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)

Deirdre Cunnane, Esq.

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, 2021

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,

2021

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

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

117

Statements

of

Operations

120

Statements

of

Changes

in

Net

Assets

123

Financial

Highlights

127

Notes

to

Financial

Statements

135

Report

of

Independent

Registered

Public

Accounting

Firm

147

Important

Tax

Information

148

Information

About

the

Approval

of

the

Applicable

Fund’s

Sub-Investment

Advisory

Agreement

149

Liquidity

Risk

Management

Program

151

Board

Members

Information

152

Officers

of

the

Trust

153

FOR

MORE

INFORMATION

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time.

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few

minutes.

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

November

1,

2020,

through

October

31,

2021,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ending

October

31,

2021,

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

produced

a

net

asset

total

return

of

42.08%

.

1

In

comparison,

the

Morningstar

®

US

Large

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

returned

42.15%

for

the

same

period.

2

Large-cap

equities

rose

during

the

reporting

period,

supported

by

government

stimulus

programs,

accommodative

central

bank

policies,

strong

corporate

earnings

and

improving

investor

sentiment

as

vaccines

for

the

COVID-19

pandemic

rolled

out.

The

difference

in

returns

between

the

fund

and

the

Index

resulted

primarily

from

transaction

costs

and

operating

expenses

that

are

not

reflected

in

Index

results.

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

Morningstar

®

US

Large

Cap

Index

SM

.

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.

Stocks

Gain

on

Economic

Growth

and

Government

Stimulus

Investor

sentiment

turned

optimistic

in

November

2020

with

the

resolution

in

the

U.S.

presidential

election

and

progress

toward

a

COVID-19

vaccine.

Vaccine

approvals

and

passage

of

the

latest

in

a

series

of

pandemic-related

U.S.

fiscal

stimulus

packages

in

December

helped

to

support

the

stock

market

rally

into

the

new

year.

A

strong

risk-on

rally

ensued,

particularly

in

areas

of

the

market

that

had

been

hard

hit

by

the

pandemic,

such

as

travel

and

leisure

names.

In

2021,

equity

strength

rotated

out

of

technology

and

growth

stocks

benefiting

from

the

pandemic

into

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

and

value-oriented

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

The

Index

continued

to

gain

ground

despite

increasing

inflationary

pressures,

weakening

consumer

confidence,

disappointing

employment

numbers,

and

the

spread

of

the

Delta

variant

of

the

virus.

Stocks

dipped

in

September

as

U.S.

economic

growth

showed

evidence

of

slowing,

and

the

U.S.

Federal

Reserve

(the

“Fed”)

raised

its

inflation

estimates

while

stating

its

intention

to

begin

tapering

its

quantitative

easing

program

in

November.

However,

equities

rebounded

in

October

as

a

majority

of

companies

reported

better-than-expected

earnings.

By

the

end

of

the

period,

the

Index

had

once

more

reached

new

record

territory.

Energy

and

Financials

Lead

the

Market

Oil

and

gas

prices

soared

during

the

period

in

response

to

increasing

demand

from

economic

reopenings

and

pandemic-

related

supply

bottlenecks.

Most

energy

stocks

benefited,

with

the

sector

leading

the

Index

higher.

Within

financials,

the

next-best

performing

sector,

banking

profitability

was

supported

by

the

steepening

yield

curve,

rising

interest

rates,

high

levels

of

capital

market

trading

and

volatility,

and

increasing

numbers

of

mergers

and

acquisitions.

Information

technology,

the

largest

sector

in

the

Index,

also

outperformed

as

a

wide

range

of

technology-

based

products

and

services

were

increasingly

integrated

into

corporate

and

daily

life.

The

weakest-performing

sectors

in

the

Index

included

utilities

and

consumer

staples.

Utilities

were

hurt

by

rising

energy

costs

that

many

were

unable

to

pass

along

to

consumers

due

to

regulatory

constraints.

Climate

change-related

extreme

weather

events

in

some

areas,

such

as

Texas,

further

undermined

utility

company

profitability.

Consumer

staples

companies

faced

increasing

costs

as

supply-chain

disruptions

and

rising

inflationary

pressures

drove

prices

for

agricultural

products

and

industrial

materials

higher.

Replicating

the

Performance

of

the

Index

In

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

We

note,

however,

that

equity

markets

are

likely

to

face

a

number

of

headwinds

in

the

coming

months,

making

the

exceptionally

strong

returns

of

the

current

reporting

period

less

likely

to

be

repeated

in

the

near

future.

Increasing

inflationary

pressures,

driven

by

strong

demand

and

supply-chain

disruptions,

have

increased

the

possibility

that

the

Fed

may

soon

taper

its

asset-buying

program

and

eventually

begin

to

raise

interest

rates,

removing

some

support

for

equity

markets

and

signaling

a

phase

of

slower

economic

growth.

At

the

same

time,

we

see

no

indications

of

an

end

to

the

current

growth

cycle

as

global

economies

continue

to

reopen

in

the

wake

of

the

pandemic,

4

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

potentially

setting

the

stage

for

further

market

appreciation.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

15,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

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.

2

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.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

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

November

1,

2020,

through

October

31,

2021,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ending

October

31,

2021,

the

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

produced

a

net

asset

total

return

of

44.87%

.

1

In

comparison,

the

Morningstar

®

US

Mid

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

produced

a

total

return

of

45.36%

for

the

same

period.

2,3

Mid-cap

equities

rose

during

the

reporting

period,

supported

by

government

stimulus

programs,

accommodative

central

bank

policies,

strong

corporate

earnings

and

improving

investor

sentiment

as

vaccines

for

the

COVID-19

pandemic

rolled

out.

The

difference

in

returns

between

the

fund

and

the

Index

resulted

primarily

from

transaction

costs

and

operating

expenses

that

are

not

reflected

in

Index

results.

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

Morningstar

®

US

Mid

Cap

Index

SM

.

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.

Stocks

Gain

on

Economic

Growth

and

Government

Stimulus

Investor

sentiment

turned

optimistic

in

November

2020

with

the

resolution

in

the

U.S.

presidential

election

and

progress

toward

a

COVID-19

vaccine.

Vaccine

approvals

and

passage

of

the

latest

in

a

series

of

pandemic-related

U.S.

fiscal

stimulus

packages

in

December

helped

to

support

the

stock

market

rally

into

the

new

year.

A

strong

risk-on

rally

ensued,

particularly

in

areas

of

the

market

that

had

been

hard

hit

by

the

pandemic,

such

as

travel

and

leisure

names.

In

2021,

equity

strength

rotated

out

of

technology

and

growth

stocks

benefiting

from

the

pandemic

into

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

and

value-oriented

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

The

Index

continued

to

gain

ground

despite

increasing

inflationary

pressures,

weakening

consumer

confidence,

disappointing

employment

numbers

and

the

spread

of

the

Delta

variant

of

the

virus.

Stocks

dipped

in

September

as

U.S.

economic

growth

showed

evidence

of

slowing,

and

the

U.S.

Federal

Reserve

(the

“Fed”)

raised

its

inflation

estimates

while

stating

its

intention

to

begin

tapering

its

quantitative

easing

program

in

November.

However,

equities

rebounded

in

October

as

a

majority

of

companies

reported

better-than-expected

earnings.

By

the

end

of

the

period,

the

Index

had

once

more

reached

new

record

territory.

For

the

period

as

a

whole,

mid-cap

stocks

tended

to

outperform

their

large-cap

counterparts.

Energy

and

Financials

Lead

the

Market

Oil

and

gas

prices

soared

during

the

period

in

response

to

increasing

demand

from

economic

reopenings

and

pandemic-

related

supply

bottlenecks.

Most

energy

stocks

benefited,

with

the

sector

leading

the

Index

higher.

Within

financials,

the

next-best

performing

sector,

banking

profitability

was

supported

by

the

steepening

yield

curve,

rising

interest

rates,

high

levels

of

capital

market

trading

and

volatility,

and

increasing

numbers

of

mergers

and

acquisitions.

Information

technology,

the

largest

sector

in

the

Index,

also

outperformed

as

a

wide

range

of

technology-

based

products

and

services

were

increasingly

integrated

into

corporate

and

daily

life.

The

weakest-performing

sectors

in

the

Index

included

utilities

and

consumer

staples.

Utilities

were

hurt

by

rising

energy

costs

that

many

were

unable

to

pass

along

to

consumers

due

to

regulatory

constraints.

Climate

change-related

extreme

weather

events

in

some

areas,

such

as

Texas,

further

undermined

utility

company

profitability.

Consumer

staples

companies

faced

increasing

costs

as

supply-chain

disruptions

and

rising

inflationary

pressures

drove

prices

for

agricultural

products

and

industrial

materials

higher.

Replicating

the

Performance

of

the

Index

In

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

We

note,

however,

that

equity

markets

are

likely

to

face

a

number

of

headwinds

in

the

coming

months,

making

the

exceptionally

strong

returns

of

current

reporting

period

less

likely

to

be

repeated

in

the

near

future.

Increasing

inflationary

pressures,

driven

by

strong

demand

and

supply-chain

disruptions,

have

increased

the

possibility

that

the

Fed

may

soon

taper

its

asset-buying

program

and

eventually

begin

to

raise

interest

rates,

removing

some

support

for

equity

markets

and

signaling

a

phase

of

slower

economic

growth.

Mid-cap

stocks

have

historically

been

more

vulnerable

to

economic

slowdowns

than

larger-cap

issues.

At

the

same

time,

we

see

no

indications

of

an

end

to

6

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

the

current

growth

cycle

as

global

economies

continue

to

reopen

in

the

wake

of

the

pandemic,

potentially

setting

the

stage

for

further

market

appreciation.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

15,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

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.

2

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.

3

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

November

1,

2020,

through

October

31,

2021,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ending

October

31,

2021,

the

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

produced

a

net

asset

total

return

of

47.08%.

1

In

comparison,

the

Morningstar

®

US

Small

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

produced

a

47.51%

total

return

for

the

same

period.

2,3

Small-cap

equities

rose

during

the

reporting

period,

supported

by

government

stimulus

programs,

accommodative

central

bank

policies,

strong

corporate

earnings

and

improving

investor

sentiment

as

vaccines

for

the

COVID-19

pandemic

rolled

out.

The

difference

in

returns

between

the

fund

and

the

Index

resulted

primarily

from

transaction

costs

and

operating

expenses

that

are

not

reflected

in

Index

results.

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

Morningstar®

US

Small

Cap

Index

SM

.

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.

Stocks

Gain

on

Economic

Growth

and

Government

Stimulus

Investor

sentiment

turned

optimistic

in

November

2020

with

the

resolution

in

the

U.S.

presidential

election

and

progress

toward

a

COVID-19

vaccine.

Vaccine

approvals

and

passage

of

the

latest

in

a

series

of

pandemic-related

U.S.

fiscal

stimulus

packages

in

December

helped

to

support

the

stock

market

rally

into

the

new

year.

A

strong

risk-on

rally

ensued,

particularly

in

areas

of

the

market

that

had

been

hard

hit

by

the

pandemic,

such

as

travel

and

leisure

names.

In

2021,

equity

strength

rotated

out

of

technology

and

growth

stocks

benefiting

from

the

pandemic

into

COVID-

19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

and

value-oriented

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

Buoyed

by

risk-on

sentiment,

small-cap

stocks

strongly

outperformed

larger-capitalization

groups

from

the

beginning

of

the

period

through

mid-March

2021.

The

Index

continued

to

gain

modest

ground

until

summer,

when

increasing

inflationary

pressures,

weakening

consumer

confidence,

disappointing

employment

numbers,

and

the

spread

of

the

Delta

variant

of

the

virus

began

to

take

a

toll.

From

mid-June

through

August,

the

Index

trended

lower

even

as

mid-

and

large-cap

indices

continued

to

climb.

Stocks

dipped

broadly

in

September

as

U.S.

economic

growth

showed

evidence

of

slowing,

and

the

U.S.

Federal

Reserve

(the

“Fed”)

raised

its

inflation

estimates

while

stating

its

intention

to

begin

tapering

its

quantitative

easing

program

in

November.

However,

equity

markets

rebounded

in

October

with

small-cap

stocks

once

again

outperforming

as

better-than-expected

earnings

reports

bolstered

investor

sentiment.

By

the

end

of

the

reporting

period,

the

Index

had

once

more

reached

new

record

territory,

outperforming

comparable

mid-

and

large-cap

indices

for

the

period

as

a

whole.

Energy

and

Financials

Lead

the

Market

Oil

and

gas

prices

soared

during

the

period

in

response

to

increasing

demand

from

economic

reopenings

and

pandemic-

related

supply

bottlenecks.

Most

energy

stocks

benefited,

with

the

sector

leading

the

Index

higher.

Within

financials,

the

next-

best

performing

sector,

banking

profitability

was

supported

by

the

steepening

yield

curve,

rising

interest

rates,

high

levels

of

capital

market

trading

and

volatility,

and

increasing

numbers

of

mergers

and

acquisitions.

Information

technology

and

industrials

also

outperformed,

supported

by

broad

economic

growth.

The

weakest-performing

sectors

in

the

Index

included

utilities

and

consumer

staples.

Utilities

were

hurt

by

rising

energy

costs

that

many

were

unable

to

pass

along

to

consumers

due

to

regulatory

constraints.

Climate

change-related

extreme

weather

events

in

some

areas,

such

as

Texas,

further

undermined

utility

company

profitability.

Consumer

staples

companies

faced

increasing

costs

as

supply

chain

disruptions

and

rising

inflationary

pressures

drove

prices

for

agricultural

products

and

industrial

materials

higher.

Replicating

the

Performance

of

the

Index

In

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

We

note,

however,

that

equity

markets

are

likely

to

face

a

number

of

headwinds

in

the

coming

months,

making

the

exceptionally

strong

returns

of

the

current

reporting

period

less

likely

to

be

repeated

in

the

near

future.

Increasing

inflationary

pressures,

driven

by

strong

demand

and

supply-chain

disruptions,

have

increased

the

possibility

that

the

Fed

may

soon

taper

its

asset-buying

program

and

eventually

begin

to

raise

interest

rates,

removing

some

support

for

equity

markets

and

signaling

a

phase

8

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

of

slower

economic

growth.

Small-cap

stocks

have

historically

been

more

vulnerable

to

economic

slowdowns

than

larger-cap

issues.

At

the

same

time,

we

see

no

indications

of

an

end

to

the

current

growth

cycle

as

global

economies

continue

to

reopen

in

the

wake

of

the

pandemic,

potentially

setting

the

stage

for

further

market

appreciation.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

15,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

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.

2

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.

3

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.

9

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

October

31,

2021,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ending

October

31,

2021,

the

BNY

Mellon

International

Equity

ETF

produced

a

net

asset

total

return

of

36.10

%.

1

This

compares

with

a

36.05%

total

return

for

the

fund’s

benchmark,

the

Morningstar

®

Developed

Markets

ex-

US

Large

Cap

Index

SM

(the

“Index”),

during

the

same

period.

2,3

International

equities

rose

during

the

reporting

period,

supported

by

accommodative

central

bank

policies,

strong

corporate

earnings

and

improving

investor

sentiment

as

vaccines

for

the

COVID-19

pandemic

rolled

out.

The

difference

in

returns

between

the

fund

and

the

Index

resulted

primarily

from

transaction

costs

and

operating

expenses

that

are

not

reflected

in

Index

results.

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.

Stocks

Gain

on

Economic

Growth

and

Monetary

Policies

Investor

sentiment

turned

optimistic

in

November

2020

with

the

resolution

in

the

U.S.

presidential

election

and

progress

toward

a

COVID-19

vaccine.

Vaccine

approvals

and

passage

of

the

latest

in

a

series

of

pandemic-related

U.S.

fiscal

stimulus

packages

in

December

helped

to

support

the

stock

market

rally

into

the

new

year,

as

did

continuing

accommodative

monetary

policies

from

most

central

banks.

A

strong

risk-on

rally

ensued,

particularly

in

areas

of

the

market

that

had

been

hard

hit

by

the

pandemic,

such

as

travel

and

leisure

names.

In

2021,

equity

strength

rotated

out

of

technology

and

growth

stocks

benefiting

from

the

pandemic

into

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

and

value-oriented

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

The

Index

continued

to

gain

ground

through

mid-June

despite

increasing

inflationary

pressures

and

the

spread

of

the

Delta

variant

of

the

virus.

However,

waning

risk-on

sentiment

began

to

take

its

toll,

forcing

international

equity

markets

to

trade

sideways

through

the

end

of

the

reporting

period

even

as

U.S.

equities

continued

to

advance.

As

a

result,

the

Index

lagged

comparable

U.S.

indices

for

the

period

as

a

whole.

Western

Europe

Outperforms

From

a

regional

perspective,

Western

European

stocks

generally

outperformed

those

of

most

Asian

nations.

Throughout

the

period,

the

European

Union

and

the

UK

steadily

ramped

up

COVID-19

vaccination

rates,

making

the

region

less

susceptible

to

later

waves

of

infection

and

allowing

for

greater

levels

of

economic

reopening.

At

the

same

time,

the

region’s

central

banks

maintained

accommodative

monetary

policies

that

supported

equity

markets

gains.

Strong

corporate

financial

reports

further

bolstered

returns.

The

commodity-rich

Canadian

market

also

outperformed

due

to

rising

prices

for

many

of

country’s

exports,

including

oil,

natural

gas

and

lumber.

Conversely,

developed

Asian

markets

generally

underperformed

the

broader

Index,

although

they

produced

positive

absolute

returns.

Japanese

equities

languished

due

to

the

long-standing

structural

problems

of

the

country’s

aging

population

and

the

economy’s

anemic

growth

rate.

Hong

Kong

shares

suffered

from

the

country’s

political

and

economic

links

to

China,

which

experienced

slowing

economic

growth

and

upheaval

in

its

real

estate

sector.

From

a

sector

perspective,

energy,

financials

and

information

technology

led

the

international

equity

market’s

gains.

Energy

stocks

rose

as

oil

and

gas

prices

soared

in

response

to

increasing

demand

from

economic

reopenings

and

pandemic-

related

supply

bottlenecks.

Financial

stocks

benefited

from

the

steepening

yield

curve,

rising

interest

rates,

high

levels

of

capital

market

trading

and

volatility,

and

increasing

numbers

of

mergers

and

acquisitions.

Information

technology

shares

gained

as

a

wide

range

of

technology-based

products

and

services

were

increasingly

integrated

into

corporate

and

daily

life.

The

weakest-

performing

sectors

included

consumer

staples,

where

input

prices

for

agricultural

products

and

industrial

materials

rose

in

response

to

supply-chain

disruptions

and

increasing

inflationary

pressures,

and

utilities,

where

company

profits

were

hurt

by

rising

energy

costs.

Replicating

the

Performance

of

the

Index

In

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

We

note,

however,

that

international

equity

markets

are

likely

to

face

a

number

of

headwinds

in

the

coming

months,

making

the

exceptionally

strong

returns

of

the

current

reporting

10

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

period

less

likely

to

be

repeated

in

the

near

future.

Increasing

inflationary

pressures

and

the

possibility

that

central

banks

may

reverse

accommodative

policies

could

remove

some

support

for

equity

markets

and

signal

a

phase

of

slower

economic

growth.

On

the

other

hand,

we

believe

Europe

is

further

from

raising

rates

than

the

U.S.

Federal

Reserve,

while

recent

political

changes

in

Japan

offer

hope

for

improvements

in

investor

sentiment.

More

generally,

we

see

no

indications

of

an

end

to

the

current

growth

cycle

as

global

economies

continue

to

reopen

in

the

wake

of

the

pandemic,

potentially

setting

the

stage

for

further

market

appreciation.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

15,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

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.

2

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.

3

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.

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

November

1,

2020,

through

October

31,

2021,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ending

October

31,

2021,

the

BNY

Mellon

Emerging

Markets

Equity

ETF

produced

a

net

asset

total

return

of

14.61%.

1

In

comparison,

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

returned

15.32%

for

the

same

period.

2,3

Emerging

markets

rose

during

the

reporting

period,

supported

by

accommodative

central

bank

policies,

strong

corporate

earnings

and

improving

investor

sentiment

as

vaccines

for

the

COVID-19

pandemic

rolled

out.

The

difference

in

returns

between

the

fund

and

the

Index

resulted

primarily

from

transaction

costs

and

operating

expenses

that

are

not

reflected

in

Index

results.

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.

Chinese

Economic

Slowdown

Limits

Gains

Investor

sentiment

turned

optimistic

in

November

2020

with

the

resolution

in

the

U.S.

presidential

election

and

progress

toward

a

COVID-19

vaccine.

Vaccine

approvals

and

passage

of

the

latest

in

a

series

of

pandemic-related

U.S.

fiscal

stimulus

packages

in

December

helped

to

support

the

stock

market

rally

into

the

new

year,

as

did

continuing

accommodative

monetary

policies

from

most

central

banks.

A

strong

risk-on

rally

ensued,

particularly

in

areas

of

the

market

that

had

been

hard

hit

by

the

pandemic,

such

as

travel

and

leisure

names,

with

emerging-

market

equities

generally

keeping

pace

with

other

global

equities.

The

positive

sentiment

carried

over

into

the

new

year,

and

emerging

markets

initially

made

relatively

strong

gains,

owing

in

large

part

to

the

strength

of

Chinese

economic

data.

However,

toward

the

end

of

February

2021,

equity

markets

experienced

a

sell-off

as

expectations

for

global

growth

and

inflation

caused

government

bond

yields

to

rise

aggressively.

The

weakness

was

exacerbated

in

the

summer

when

the

vast

Chinese

market

suffered

a

contraction

as

the

country’s

economic

growth

slowed

under

pressure

from

intrusive

government

regulation

in

the

information

technology

sector,

isolated

but

troubling

waves

of

COVID-19

infections,

and

financial

turmoil

in

the

Chinese

real

estate

sector.

Although

some

emerging

markets

continued

to

rise

during

the

remainder

of

the

reporting

period,

Asian

markets

broadly

declined

due

to

their

economic

links

with

China,

dragging

the

overall

Index

lower.

By

October

31,

2021,

the

Index

had

given

up

roughly

50%

of

the

gains

it

had

achieved

in

the

first

three

months

of

the

period.

India

and

Russia

Outperform

The

greatest

gains

and

most

significant

losses

within

emerging

markets

hinged

on

idiosyncratic

country

dynamics,

with

several

individual

country

markets

experiencing

volatile

shifts

in

direction.

The

Indian

market

started

the

period

on

a

strong

note

supported

by

central

bank

accommodation

and

positive

steps

toward

economic

reopening.

The

country

experienced

a

severe

second

wave

of

COVID-19

infections

in

the

spring,

which

drove

stocks

lower

from

mid-March

to

mid-April

2021.

However,

an

aggressive

vaccination

campaign

quickly

got

the

pandemic

under

control,

setting

the

stage

for

a

strong

market

rebound

during

the

second

half

of

the

period.

Led

by

strength

in

several

industries

and

sectors—including

financials,

infrastructure-related

companies,

health

care

firms

and

information

technology—

India’s

market

outperformed

other

emerging

markets,

as

well

as

most

developed-country

equity

markets.

Russia,

another

top

performer,

benefited

from

rising

oil

and

gas

prices,

and

the

opening

of

the

new

Nord

Stream

natural

gas

pipeline

system

to

Europe,

increasing

Russian

export

volumes

along

with

its

ability

to

set

prices.

Saudi

Arabia,

another

petroleum

exporter,

also

outperformed.

The

Brazilian

market

proved

extremely

volatile

as

the

commodity-rich

nation

struggled

with

political

instability,

high

inflation

levels

and

a

weak

public

health

response

to

the

pandemic.

However,

by

October

2021,

Brazil

seemed

to

have

turned

the

corner

on

the

virus,

and

the

country’s

equities

market

ended

the

period

in

line

with

the

Index.

As

mentioned

earlier,

the

most

significantly

underperforming

emerging

market

was

China,

followed

by

the

markets

of

other

Asian

countries

feeling

the

spillover

effects

of

China’s

economic

difficulties.

Chinese

shares

ended

the

period

in

negative

territory.

While

other

Asian

markets

generally

fared

better,

all

suffered

late-

period

declines

in

connection

with

China’s

economic

difficulties.

Notably,

the

South

Korean

market,

which

had

outperformed

most

other

markets

earlier

in

the

period,

lost

an

appreciable

percentage

of

its

earlier

gains

by

the

end

of

the

period.

Replicating

the

Performance

of

the

Index

In

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

We

note,

however,

that

emerging-market

equities

are

12

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

likely

to

face

a

number

of

headwinds

in

the

coming

months.

It

remains

an

open

question

how

much

further

Chinese

regulatory

authorities

are

willing

to

tighten

the

screws

on

their

economy,

whether

they

may

expand

the

regulatory

crackdown

into

new

areas,

and

if

they

will

step

in

and

bail

out

the

country’s

debt-

burdened

real

estate

sector.

Geopolitical

tensions

between

China

and

the

West

over

Taiwan

could

put

further

pressure

on

equities.

More

broadly,

rising

interest

rates

and

less

bullish

investor

sentiment

in

the

developed

world

could

cause

capital

to

shift

out

of

emerging

markets

into

traditionally

safer

harbors.

On

the

positive

side,

global

growth

remains

strong

as

economies

continue

to

reopen

in

the

wake

of

the

pandemic,

potentially

setting

the

stage

for

further

market

appreciation.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

15,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

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.

The

fund’s

return

reflects

the

absorption

of

certain

fund

expenses

by

BNY

Mellon

ETF

Investment

Adviser,

LLC

pursuant

to

an

agreement

in

effect

through

March

1,

2022,

at

which

time

it

may

be

extended,

modified

or

terminated.

2

Source:

Morningstar

Inc.

—

The

Morningstar

®

Emerging

Markets

Large

Cap

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.

3

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.

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

from

November

1,

2020

through

October

31,

2021,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ended

October

31,

2021,

the

BNY

Mellon

Core

Bond

ETF

produced

a

net

asset

total

return

of

-0.41%.

1

In

comparison,

the

Bloomberg

US

Aggregate

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

-0.48%

for

the

same

period.

2,3

Investment-grade,

US

fixed-income

securities

produced

negative

returns

over

the

reporting

period

in

an

environment

of

rising

rates

and

economic

recovery.

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

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.

Under

normal

circumstances,

in

seeking

to

track

the

Index's

performance,

the

fund

generally

purchases

a

representative

sample

of

the

securities

comprising

the

Index.

By

using

a

sampling

process,

the

fund

typically

will

not

invest

in

all

of

the

securities

in

the

Index.

The

fund

may

also

fully

replicate

the

Index

when

determined

to

be

in

the

best

interest

of

the

fund

in

pursuing

its

objective.

Economic

Recovery,

Inflation

and

Tapering

Concerns

Weigh

on

the

Market

Fixed-income

markets

posted

a

negative

performance

during

the

reporting

period,

which

was

driven

by

intermittent

concerns

about

the

pandemic,

worries

about

inflation

and

questions

about

when

the

Federal

Reserve

(the

“Fed”)

would

begin

tapering

its

bond

purchases.

Losses

were

largely

due

to

yield-curve

steepening

at

the

long

end

of

the

curve.

With

the

approval

of

COVID-19

vaccines

early

in

November

2020,

investors

exhibited

an

increased

risk

appetite.

As

investors

shifted

to

risk

assets,

prices

on

longer

Treasury

securities

fell,

causing

yields

to

rise.

In

addition,

the

Fed

remained

dovish,

leaving

short-term

interest

rates

unchanged

and

continuing

its

bond

purchasing

program.

In

2021,

risk

appetites

remained

strong

with

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

more

to

come.

The

Fed

also

remained

accommodative

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

As

a

result,

the

Treasury

yield

curve

experienced

continued

steepening

on

expectations

of

robust

economic

growth.

The

combination

of

increased

fiscal

stimulus

and

easy

monetary

policy

led

to

some

rising

concerns

about

inflation

and

questions

about

whether

the

Fed

would

begin

to

reduce

its

bond

purchases

sooner

than

expected.

These

concerns

also

contributed

further

to

the

yield-curve

steepening,

and

the

yield

on

the

10-year

Treasury

note

hit

a

high

of

1.74%,

while

the

Index

experienced

a

loss

of

3.37%.

In

the

second

quarter

of

2021,

the

Fed

calmed

the

market,

signaling

that

it

would

not

be

tapering

its

bond

purchase

program

in

the

near

term.

It

also

termed

the

rise

in

inflation

as

“transitory”

and

therefore

not

a

concern

to

fixed-income

investors.

The

Delta

variant

of

COVID-19

also

emerged,

casting

some

doubt

on

the

pace

of

economic

recovery.

In

the

third

quarter

of

2021,

returns

in

the

fixed-income

market

were

muted.

Inflation

remained

a

focus

as

investors

tried

to

determine

whether

the

higher

inflation

rate

was

indeed

going

to

be

“transitory”

as

the

Fed

termed

it.

Supply-chain

issues

emerged

as

a

threat

to

the

economy

and

as

a

driver

of

higher

prices.

The

stability

of

the

global

economy

also

came

into

question

with

the

financial

difficulties

of

Evergrande,

a

Chinese

real

estate

developer.

In

the

U.S.,

concerns

about

whether

the

debt

ceiling

would

be

raised

by

Congress

also

factored

into

the

market

environment.

The

Fed

met

seven

times

during

the

period

and

left

rates

unchanged.

While

it

did

not

taper

its

purchases

of

Treasury

and

mortgage

securities,

it

announced

shortly

after

the

reporting

period

that

it

would

begin

to

do

so.

Treasuries

Lead

Market

Lower

The

Index

posted

weak

results

during

the

period,

led

by

Treasuries,

which

make

up

approximately

38%

of

the

Index.

Treasuries

posted

a

loss

of

-2.45%

as

a

result

of

the

large

run-up

14

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

in

yields.

This

rise

stemmed

from

the

increase

in

risk

appetite

that

led

investors

into

other

segments

of

the

fixed-income

market

and

other

risk

assets.

Concerns

about

inflation

and

the

beginning

of

the

Fed’s

tapering

program

also

helped

drive

rates

up.

Mortgage-backed

securities

were

also

a

drag

on

performance,

underperforming

duration

neutral

Treasuries

despite

ongoing

Fed

purchases.

On

the

other

hand,

other

spread

sectors

of

the

market

performed

relatively

well.

Corporate

bonds

outperformed

duration

neutral

Treasuries

by

499

bps,

led

in

particular

by

the

financial

sector.

The

industrial

sector

also

performed

well,

and

within

this

sector,

the

energy

industry

led

the

way,

driven

in

part

by

inflation

concerns.

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

15,

2021

1

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

Investment

Adviser,

Inc.

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.

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.

2

Source:

Lipper

Inc.

—

The

Bloomberg

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.

3

Bloomberg®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

shall

not

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

from

November

1,

2020

through

October

31,

2021,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ended

October

31,

2021,

the

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

produced

a

net

asset

total

return

of

0.49%.

1

In

comparison,

the

Bloomberg

US

Corporate

Bond

1-5

Year

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

0.64%

for

the

same

period.

2,3

Short-term,

investment-grade

securities

produced

modestly

positive

returns

over

the

reporting

period,

in

an

environment

of

rising

long-term

rates

and

economic

recovery.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

operating

expenses

that

are

not

reflected

in

the

Index’s

results

as

well

as

security

selection.

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

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.

Economic

Recovery,

Inflation

and

Tapering

Concerns

Weigh

on

the

Market

Fixed-income

markets

posted

a

negative

performance

during

the

reporting

period,

which

was

driven

by

intermittent

concerns

about

the

pandemic,

worries

about

inflation

and

questions

about

when

the

Federal

Reserve

(the

“Fed”)

would

begin

tapering

its

bond

purchases.

Losses

were

largely

due

to

yield-curve

steepening

at

the

long

end

of

the

curve.

With

the

approval

of

COVID-19

vaccines

early

in

November

2020,

investors

exhibited

an

increased

risk

appetite.

As

investors

shifted

to

risk

assets,

prices

on

longer

Treasury

securities

fell,

causing

yields

to

rise.

In

addition,

the

Fed

remained

dovish,

leaving

short-term

interest

rates

unchanged

and

continuing

its

bond

purchasing

program.

In

2021,

risk

appetites

remained

strong

with

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

more

to

come.

The

Fed

also

remained

accommodative

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

As

a

result,

the

Treasury

yield

curve

experienced

continued

steepening

on

expectations

of

robust

economic

growth.

The

combination

of

increased

fiscal

stimulus

and

easy

monetary

policy

led

to

some

rising

concerns

about

inflation

and

questions

about

whether

the

Fed

would

begin

to

reduce

its

bond

purchases

sooner

than

expected.

These

concerns

also

contributed

further

to

the

yield-curve

steepening,

and

the

yield

on

the

10-year

Treasury

note

hit

a

high

of

1.74%,

while

the

Index

experienced

a

loss

of

3.37%.

In

the

second

quarter

of

2021,

the

Fed

calmed

the

market,

signaling

that

it

would

not

be

tapering

its

bond

purchase

program

in

the

near

term.

It

also

termed

the

rise

in

inflation

as

“transitory”

and

therefore

not

a

concern

to

fixed-income

investors.

The

Delta

variant

of

COVID-19

also

emerged,

casting

some

doubt

on

the

pace

of

economic

recovery.

In

the

third

quarter

of

2021,

returns

in

the

fixed-income

market

were

muted.

Inflation

remained

a

focus

as

investors

tried

to

determine

whether

the

higher

inflation

rate

was

indeed

going

to

be

“transitory”

as

the

Fed

termed

it.

Supply-chain

issues

emerged

as

a

threat

to

the

economy

and

as

a

driver

of

higher

prices.

The

stability

of

the

global

economy

also

came

into

question

with

the

financial

difficulties

of

Evergrande,

a

Chinese

real

estate

developer.

In

the

U.S.,

concerns

about

whether

the

debt

ceiling

would

be

raised

by

Congress

also

factored

into

the

market

environment.

The

Fed

met

seven

times

during

the

period

and

left

rates

unchanged.

While

it

did

not

taper

its

purchases

of

Treasury

and

mortgage

securities,

it

announced

shortly

after

the

reporting

period

that

it

would

begin

to

do

so.

Financial

and

Industrial

Sectors

Bolster

Results

The

performance

of

this

fund

relative

to

the

broader

fixed-

income

market

was

helped

primarily

by

the

lack

of

Treasury

securities

in

the

Index.

In

addition,

the

increase

in

investors’

risk

appetites

benefited

corporate

sectors

of

the

market,

and

the

fund’s

shorter

duration

also

protected

it

from

the

rise

in

longer-

term

rates.

All

sectors

of

the

shorter-term,

corporate

market

posted

positive

returns.

The

finance

sector

led

all

others,

followed

by

the

industrial

sector.

Within

the

industrial

sector,

the

energy

industry

led,

benefiting

from

inflation

concerns.

The

utilities

sector

was

the

worst-performing

sector,

with

the

natural

gas

segment

lagging

most.

16

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

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

15,

2021

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

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.

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.

2

Source:

FactSet

—

Bloomberg

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.

Investors

cannot

invest

directly

in

any

index.

3

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

BNY

Mellon

ETF

Trust,

and

does

not

approve,

endorse,

review

or

recommend

the

fund.

Bloomberg

does

not

guarantee

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

from

November

1,

2020

through

October

31,

2021,

as

provided

by

Paul

Benson,

CFA,

CAIA,

Manuel

Hayes

and

Stephanie

Shu,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

12-month

period

ended

October

31,

2021,

the

BNY

Mellon

High

Yield

Beta

ETF

produced

a

net

asset

total

return

of

10.27%.

1

In

comparison,

the

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

10.53%

for

the

same

period.

2,3

U.S.

high

yield

securities

produced

positive

returns

over

the

reporting

period,

in

an

environment

of

economic

recovery.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

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,

but

at

least

80%,

of

its

assets

in

bonds

comprising

the

Bloomberg

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.

Economic

Recovery,

Inflation

and

Tapering

Concerns

Weigh

on

the

Bond

Market

The

Bloomberg

U.S.

Aggregate

Index,

which

represents

the

entire

market,

posted

a

negative

performance

during

the

reporting

period,

which

was

driven

by

intermittent

concerns

about

the

pandemic,

worries

about

inflation

and

questions

about

when

the

Federal

Reserve

(the

“Fed”)

would

begin

tapering

its

bond

purchases.

Losses

were

largely

due

to

yield-curve

steepening

at

the

long

end

of

the

curve.

The

U.S.

high-yield

market,

however,

posted

a

gain

of

10.53%.

With

the

approval

of

COVID-19

vaccines

early

in

November

2020,

investors

exhibited

an

increased

risk

appetite.

As

investors

shifted

to

risk

assets,

prices

on

longer

Treasury

securities

fell,

causing

yields

to

rise.

In

addition,

the

Fed

remained

dovish,

leaving

short-term

interest

rates

unchanged

and

continuing

its

bond

purchasing

program.

In

2021,

risk

appetites

remained

strong

with

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

more

to

come.

The

Fed

also

remained

accommodative

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

As

a

result,

the

Treasury

yield

curve

experienced

continued

steepening

on

expectations

of

robust

economic

growth.

The

combination

of

increased

fiscal

stimulus

and

easy

monetary

policy

led

to

some

rising

concerns

about

inflation

and

questions

about

whether

the

Fed

would

begin

to

reduce

its

bond

purchases

sooner

than

expected.

These

concerns

also

contributed

further

to

the

yield-curve

steepening,

and

the

yield

on

the

10-year

Treasury

note

hit

a

high

of

1.74%,

while

the

Bloomberg

U.S.

Aggregate

Index

experienced

a

loss

of

3.37%

during

the

quarter.

In

the

second

quarter

of

2021,

the

Fed

calmed

the

market,

signaling

that

it

would

not

be

tapering

its

bond

purchase

program

in

the

near

term.

It

also

termed

the

rise

in

inflation

as

“transitory”

and

therefore

not

a

concern

to

fixed-income

investors.

The

Delta

variant

of

COVID-19

also

emerged,

casting

some

doubt

on

the

pace

of

economic

recovery.

In

the

third

quarter

of

2021,

returns

in

the

fixed-income

market

were

muted.

Inflation

remained

a

focus

as

investors

tried

to

determine

whether

the

higher

inflation

rate

was

indeed

going

to

be

“transitory”

as

the

Fed

termed

it.

Supply-chain

issues

emerged

as

a

threat

to

the

economy

and

as

a

driver

of

higher

prices.

The

stability

of

the

global

economy

also

came

into

question

with

the

financial

difficulties

of

Evergrande,

a

Chinese

real

estate

developer.

In

the

U.S.,

concerns

about

whether

the

debt

ceiling

would

be

raised

by

Congress

also

factored

into

the

market

environment.

The

Fed

met

seven

times

during

the

period

and

left

rates

unchanged.

While

it

did

not

taper

its

purchases

of

Treasury

and

mortgage

securities,

it

announced

shortly

after

the

reporting

period

that

it

would

begin

to

do

so.

Returns

Bolstered

by

Economic

Prospects

The

Index

produced

a

return

of

10.53%

for

the

12-month

period

ended

October

31,

2021.

This

highly

diversified

index

outperformed

the

more

concentrated

Bloomberg

U.S.

High

Yield

Very

Liquid

Index

and

the

iBoxx

USD

Liquid

High

Yield

Index,

which

gained

9.22%

and

9.09%,

respectively.

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

ETF’s

slight

underperformance

was

primarily

caused

by

a

defensive

underweight

to

the

lower-

quality

issuers

(most

notably

in

energy),

which

rallied

as

investors

were

in

a

“risk-on”

mood.

Participation

in

new

issue

concessions

and

a

modest

preference

for

“fallen

angel”

bonds

offset

some

losses.

18

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

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

15,

2021

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

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.

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.

2

Source:FactSet

—

The

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

is

designed

to

measure

the

U.

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.

3

Bloomberg®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

the

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

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.

High

yield

bonds

involve

increased

credit

and

liquidity

risk

than

higher

rated

bonds

and

are

considered

speculative

in

terms

of

the

issuer’s

ability

to

pay

interest

and

repay

principal

on

a

timely

basis.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

NAV

Return

4/7/20

42.08%

77.26%

Market

Price

Return

4/7/20

42.42%

77.32%

Morningstar

®

US

Large

Cap

Index

SM

4/7/20

42.15%

77.49%

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

NAV

Return

4/7/20

44.87%

91.62%

Market

Price

Return

4/7/20

45.23%

91.77%

Morningstar

®

US

Mid

Cap

Index

SM

4/7/20

45.36%

92.45%

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

NAV

Return

4/7/20

47.08%

99.02%

Market

Price

Return

4/7/20

47.59%

99.26%

Morningstar

®

US

Small

Cap

Index

SM

4/7/20

47.51%

99.49%

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

International

Equity

ETF

NAV

Return

4/22/20

36.10%

54.57%

Market

Price

Return

4/22/20

35.52%

55.43%

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

4/22/20

36.05%

54.29%

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

Emerging

Markets

Equity

ETF

NAV

Return

4/22/20

14.61%

45.00%

Market

Price

Return

4/22/20

13.83%

45.06%

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

4/22/20

15.32%

46.40%

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

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”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

noy

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

Core

Bond

ETF

NAV

Return

4/22/20

(0.41)%

0.89%

Market

Price

Return

4/22/20

(0.38)%

0.95%

Bloomberg

US

Aggregate

Total

Return

Index

4/22/20

(0.48)%

0.93%

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

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”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

NAV

Return

4/22/20

0.49%

4.46%

Market

Price

Return

4/22/20

0.44%

4.50%

Bloomberg

US

Corporate

1-5

Years

Total

Return

Index

4/22/20

0.64%

4.74%

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

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”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

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

www.

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,

2021

Inception

Date

1

Year

From

Inception

BNY

Mellon

High

Yield

Beta

ETF

NAV

Return

4/22/20

10.27%

22.33%

Market

Price

Return

4/22/20

10.25%

22.34%

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

4/22/20

10.53%

23.04%

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,

2021.

Actual

Expenses

The

information

under

each

column

in

the

table

below

entitled

“Actual”

provides

information

about

on

how

much

a

$1,000

investment

would

be

worth

at

the

close

of

the

period,

assuming

net

asset

value

total

returns

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.

(a)

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,

2021.

Expenses

are

calculated

by

multiplying

the

fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

184/365.

For

the

six

months

ended

October

31,

2021

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

1,114.40

1,025.21

0.00

0.00

0.00

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,079.00

1,025.00

0.21

0.20

0.04

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,009.50

1,025.00

0.20

0.20

0.04

BNY

Mellon

International

Equity

ETF

1,000.00

1,000.00

1,053.60

1,025.00

0.21

0.20

0.04

BNY

Mellon

Emerging

Markets

Equity

ETF

1,000.00

1,000.00

942.10

1,024.65

0.54

0.56

0.11

BNY

Mellon

Core

Bond

ETF

1,000.00

1,000.00

1,010.60

1,025.21

0.00

0.00

0.00

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

1,000.00

1,000.00

997.80

1,024.90

0.30

0.31

0.06

BNY

Mellon

High

Yield

Beta

ETF

1,000.00

1,000.00

1,022.40

1,024.10

1.12

1.12

0.22

28

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.8%

Communication

Services

–

12.3%

Activision

Blizzard,

Inc.

8,747

683,928

Alphabet,

Inc.,

Class

A

(a)

3,461

10,247,744

Alphabet,

Inc.,

Class

C

(a)

3,239

9,604,963

AT&T,

Inc.

80,971

2,045,327

Charter

Communications,

Inc.,

Class

A

(a)(b)

1,458

983,990

Comcast

Corp.,

Class

A

52,447

2,697,349

Electronic

Arts,

Inc.

3,273

459,038

Liberty

Broadband

Corp.,

Class

A

(a)

279

44,855

Liberty

Broadband

Corp.,

Class

C

(a)

1,674

271,941

Match

Group,

Inc.

(a)

3,216

484,909

Meta

Platforms,

Inc.,

Class

A

(a)

27,522

8,905,294

Netflix,

Inc.

(a)

5,090

3,513,678

Roku,

Inc.,

Class

A

(a)

1,236

376,856

Snap,

Inc.,

Class

A

(a)

9,399

494,199

T-Mobile

US,

Inc.

(a)

6,181

711,000

Twitter,

Inc.

(a)

9,546

511,093

Verizon

Communications,

Inc.

47,099

2,495,776

Walt

Disney

Co.

(The)

(a)

20,866

3,527,815

48,059,755

Consumer

Discretionary

–

13.0%

Amazon.com,

Inc.

(a)

5,009

16,892,502

Aptiv

PLC

(a)

3,082

532,847

Booking

Holdings,

Inc.

(a)

472

1,142,608

Chipotle

Mexican

Grill,

Inc.,

Class

A

(a)

322

572,848

Dollar

General

Corp.

2,861

633,769

DoorDash

,

Inc.,

Class

A

(a)

1,727

336,420

eBay,

Inc.

7,233

554,916

Ford

Motor

Co.

(a)

45,049

769,437

General

Motors

Co.

(a)

16,661

906,858

Home

Depot,

Inc.

(The)

12,208

4,538,202

Las

Vegas

Sands

Corp.

(a)

684

26,546

Lowe's

Cos.,

Inc.

8,276

1,935,094

Lucid

Group,

Inc.

(a)(b)

6,781

250,829

Lululemon

Athletica

,

Inc.

(a)

1,370

638,434

Marriott

International,

Inc.,

Class

A

(a)

3,220

515,264

McDonald's

Corp.

9,386

2,304,732

MercadoLibre

,

Inc.

(a)

463

685,712

Nike,

Inc.,

Class

B

14,908

2,493,959

O'Reilly

Automotive,

Inc.

(a)

783

487,277

Ross

Stores,

Inc.

4,273

483,704

Starbucks

Corp.

13,621

1,444,780

Target

Corp.

5,733

1,488,401

Tesla,

Inc.

(a)

9,459

10,537,326

TJX

Cos.,

Inc.

(The)

13,672

895,379

51,067,844

Consumer

Staples

–

5.7%

Altria

Group,

Inc.

21,793

961,289

Coca-Cola

Co.

(The)

44,450

2,505,647

Colgate-Palmolive

Co.

9,534

726,395

Constellation

Brands,

Inc.,

Class

A

1,944

421,479

Costco

Wholesale

Corp.

5,068

2,491,125

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

2,680

869,204

General

Mills,

Inc.

7,229

446,752

Keurig

Dr

Pepper,

Inc.

8,331

300,666

Kimberly-Clark

Corp.

4,052

524,693

Kraft

Heinz

Co.

(The)

7,560

271,328

Mondelez

International,

Inc.,

Class

A

15,909

966,313

Monster

Beverage

Corp.

(a)

4,475

380,375

PepsiCo,

Inc.

16,127

2,606,123

Philip

Morris

International,

Inc.

17,794

1,682,245

Procter

&

Gamble

Co.

(The)

27,593

3,945,523

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Consumer

Staples

–

5.7%

(continued)

SYSCO

Corp.

6,075

467,168

Walgreens

Boots

Alliance,

Inc.

8,594

404,090

Walmart,

Inc.

16,735

2,500,544

22,470,959

Energy

–

2.1%

Chevron

Corp.

22,395

2,564,003

ConocoPhillips

15,616

1,163,236

EOG

Resources,

Inc.

6,834

631,872

Exxon

Mobil

Corp.

48,561

3,130,728

Kinder

Morgan,

Inc.

22,243

372,570

Schlumberger

NV

15,966

515,063

8,377,472

Financials

–

11.3%

Allstate

Corp.

(The)

3,577

442,368

American

Express

Co.

7,396

1,285,277

American

International

Group,

Inc.

10,328

610,281

Aon

PLC,

Class

A

2,601

832,112

Bank

of

America

Corp.

86,243

4,120,690

Bank

of

New

York

Mellon

Corp.

(The)

9,668

572,346

Berkshire

Hathaway,

Inc.,

Class

B

(a)

21,237

6,095,231

BlackRock,

Inc.,

Class

A

1,639

1,546,331

Blackstone,

Inc.,

Class

A

7,942

1,099,332

Capital

One

Financial

Corp.

5,123

773,727

Charles

Schwab

Corp.

(The)

17,577

1,441,841

Chubb

Ltd.

4,857

948,961

Citigroup,

Inc.

23,100

1,597,596

CME

Group,

Inc.,

Class

A

4,149

915,062

Goldman

Sachs

Group,

Inc.

(The)

3,875

1,601,731

Intercontinental

Exchange,

Inc.

6,678

924,636

JPMorgan

Chase

&

Co.

34,145

5,800,894

Marsh

&

McLennan

Cos.,

Inc.

5,870

979,116

MetLife,

Inc.

8,565

537,882

Moody's

Corp.

1,861

752,123

Morgan

Stanley

16,974

1,744,588

MSCI,

Inc.,

Class

A

954

634,295

PNC

Financial

Services

Group,

Inc.

(The)

4,923

1,038,901

Progressive

Corp.

(The)

6,830

648,030

Prudential

Financial,

Inc.

4,590

505,129

S&P

Global,

Inc.

2,779

1,317,691

T

Rowe

Price

Group,

Inc.

2,618

567,792

Travelers

Cos.,

Inc.

(The)

2,817

453,199

Truist

Financial

Corp.

15,544

986,578

US

Bancorp

15,358

927,162

Wells

Fargo

&

Co.

46,819

2,395,260

44,096,162

Health

Care

–

13.2%

Abbott

Laboratories

20,178

2,600,742

AbbVie,

Inc.

20,060

2,300,280

Agilent

Technologies,

Inc.

3,440

541,766

Align

Technology,

Inc.

(a)

834

520,725

Amgen,

Inc.

6,527

1,350,893

Anthem,

Inc.

2,827

1,230,112

Baxter

International,

Inc.

6,003

473,997

Becton,

Dickinson

&

Co.

3,286

787,293

Biogen,

Inc.

(a)

1,699

453,089

Boston

Scientific

Corp.

(a)

15,874

684,646

Bristol-Myers

Squibb

Co.

25,476

1,487,798

Centene

Corp.

(a)

6,719

478,662

Cigna

Corp.

3,882

829,234

CVS

Health

Corp.

14,981

1,337,504

Danaher

Corp.

7,289

2,272,492

29

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Health

Care

–

13.2%

(continued)

Edwards

Lifesciences

Corp.

(a)

7,201

862,824

Eli

Lilly

&

Co.

9,298

2,368,758

Gilead

Sciences,

Inc.

14,277

926,292

HCA

Healthcare,

Inc.

2,844

712,308

Humana,

Inc.

1,497

693,351

IDEXX

Laboratories,

Inc.

(a)

981

653,483

Illumina,

Inc.

(a)

1,685

699,376

Intuitive

Surgical,

Inc.

(a)

4,107

1,483,161

IQVIA

Holdings,

Inc.

(a)

2,186

571,464

Johnson

&

Johnson

30,231

4,924,025

Medtronic

PLC

15,185

1,820,074

Merck

&

Co.,

Inc.

29,459

2,593,865

Moderna

,

Inc.

(a)

3,465

1,196,153

Pfizer,

Inc.

64,947

2,840,782

Regeneron

Pharmaceuticals,

Inc.

(a)

1,201

768,568

Stryker

Corp.

3,863

1,027,828

Thermo

Fisher

Scientific,

Inc.

4,520

2,861,476

UnitedHealth

Group,

Inc.

11,018

5,073,458

Veeva

Systems,

Inc.,

Class

A

(a)

1,606

509,118

Vertex

Pharmaceuticals,

Inc.

(a)

2,417

446,976

Zoetis,

Inc.,

Class

A

5,413

1,170,291

51,552,864

Industrials

–

6.6%

3M

Co.

6,812

1,217,169

Boeing

Co.

(The)

(a)

6,349

1,314,434

Carrier

Global

Corp.

10,254

535,566

Caterpillar,

Inc.

6,318

1,288,935

Cintas

Corp.

1,026

444,361

CSX

Corp.

25,674

928,629

Cummins,

Inc.

1,710

410,126

Deere

&

Co.

3,275

1,121,065

Eaton

Corp.

PLC

4,440

731,534

Emerson

Electric

Co.

7,183

696,823

FedEx

Corp.

2,313

544,781

General

Dynamics

Corp.

2,635

534,246

General

Electric

Co.

13,310

1,395,820

Honeywell

International,

Inc.

8,098

1,770,385

IHS

Markit

Ltd.

4,528

591,900

Illinois

Tool

Works,

Inc.

3,269

744,907

Johnson

Controls

International

PLC

7,954

583,585

L3Harris

Technologies,

Inc.

2,286

527,015

Lockheed

Martin

Corp.

2,812

934,484

Norfolk

Southern

Corp.

2,862

838,709

Northrop

Grumman

Corp.

1,724

615,847

Parker-Hannifin

Corp.

1,493

442,809

Raytheon

Technologies

Corp.

17,041

1,514,263

Roper

Technologies,

Inc.

1,223

596,665

Trane

Technologies

PLC

2,763

499,910

Uber

Technologies,

Inc.

(a)

14,343

628,510

Union

Pacific

Corp.

7,516

1,814,362

United

Parcel

Service,

Inc.,

Class

B

8,202

1,750,881

Waste

Management,

Inc.

4,665

747,473

25,765,194

Information

Technology

–

30.7%

Accenture

PLC,

Class

A

7,284

2,613,426

Adobe,

Inc.

(a)

5,480

3,563,973

Advanced

Micro

Devices,

Inc.

(a)

13,836

1,663,502

Amphenol

Corp.,

Class

A

7,226

554,740

Analog

Devices,

Inc.

6,254

1,085,006

Apple,

Inc.

180,308

27,010,138

Applied

Materials,

Inc.

10,861

1,484,156

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Information

Technology

–

30.7%

(continued)

Autodesk,

Inc.

(a)

2,534

804,824

Automatic

Data

Processing,

Inc.

4,845

1,087,654

Broadcom,

Inc.

4,867

2,587,638

Cisco

Systems,

Inc.

47,684

2,668,873

Cognizant

Technology

Solutions

Corp.,

Class

A

6,356

496,340

Crowdstrike

Holdings,

Inc.,

Class

A

(a)

2,301

648,422

DocuSign,

Inc.,

Class

A

(a)

2,250

626,152

Fidelity

National

Information

Services,

Inc.

6,368

705,192

Fiserv,

Inc.

(a)

7,099

699,181

Global

Payments,

Inc.

2,148

307,143

HP,

Inc.

13,708

415,764

Intel

Corp.

42,465

2,080,785

International

Business

Machines

Corp.

10,345

1,294,159

Intuit,

Inc.

3,158

1,976,876

KLA

Corp.

1,740

648,602

LAM

Research

Corp.

1,652

931,018

Mastercard

,

Inc.,

Class

A

10,017

3,360,904

Microchip

Technology,

Inc.

6,245

462,692

Micron

Technology,

Inc.

10,082

696,666

Microsoft

Corp.

86,202

28,586,307

NVIDIA

Corp.

28,670

7,330,059

NXP

Semiconductors

NV

3,193

641,346

Oracle

Corp.

19,156

1,837,827

Palantir

Technologies,

Inc.,

Class

A

(a)

17,979

465,297

PayPal

Holdings,

Inc.

(a)

13,407

3,118,334

QUALCOMM,

Inc.

12,858

1,710,628

salesforce.com,

Inc.

(a)

11,985

3,591,785

ServiceNow

,

Inc.

(a)

2,276

1,588,102

Snowflake,

Inc.,

Class

A

(a)

2,606

922,107

Square,

Inc.,

Class

A

(a)(b)

4,566

1,162,047

Synopsys,

Inc.

(a)

1,780

593,060

TE

Connectivity

Ltd.

3,917

571,882

Texas

Instruments,

Inc.

10,464

1,961,791

Twilio

,

Inc.,

Class

A

(a)

1,865

543,386

Visa,

Inc.,

Class

A

(b)

19,593

4,149,210

Workday,

Inc.,

Class

A

(a)

2,164

627,517

Zoom

Video

Communications,

Inc.,

Class

A

(a)

1,787

490,800

120,365,311

Materials

–

1.7%

Air

Products

&

Chemicals,

Inc.

2,572

771,111

Dow,

Inc.

9,077

508,040

DuPont

de

Nemours,

Inc.

6,178

429,989

Ecolab,

Inc.

2,871

637,994

Freeport-McMoRan,

Inc.

16,884

636,864

Linde

PLC

5,930

1,892,856

Newmont

Corp.

8,911

481,194

PPG

Industries,

Inc.

2,735

439,159

Sherwin-Williams

Co.

(The)

2,788

882,709

Southern

Copper

Corp.

984

59,030

6,738,946

Real

Estate

–

1.6%

American

Tower

Corp.

(c)

5,245

1,478,932

Crown

Castle

International

Corp.

(c)

5,016

904,385

Digital

Realty

Trust,

Inc.

(c)

3,264

515,092

Equinix

,

Inc.

(c)

1,046

875,575

Prologis,

Inc.

(c)

8,432

1,222,303

Public

Storage

(c)

1,732

575,336

Simon

Property

Group,

Inc.

(c)

3,878

568,437

6,140,060

30

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$5,663,907

and

the

value

of

the

collateral

was

$5,770,197,

consisting

of

cash

collateral

of

$140,106

and

U.S.

Government

&

Agency

securities

valued

at

$5,630,091.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021

are

as

follows:

(e)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Utilities

–

1.6%

American

Electric

Power

Co.,

Inc.

6,065

513,766

Dominion

Energy,

Inc.

9,579

727,333

Duke

Energy

Corp.

8,684

885,855

Exelon

Corp.

10,764

572,537

NextEra

Energy,

Inc.

22,597

1,928,202

Sempra

Energy

3,624

462,531

Southern

Co.

(The)

11,902

741,733

Xcel

Energy,

Inc.

5,890

380,435

6,212,392

Total

Common

Stocks

(cost

$323,739,166)

390,846,959

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$301,916)

301,916

301,916

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$140,106)

140,106

140,106

Total

Investments

(cost

$324,181,188)

99.9%

391,288,981

Cash

and

Receivables

(Net)

0.1%

197,258

Net

Assets

100.0%

391,486,239

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

116,685

5,674,305

(5,489,074)

—

—

301,916

0.1

24

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

35,514

1,105,517

(1,000,925)

—

—

140,106

0.0

7,745

2

Total

152,199

6,779,822

(6,489,999)

—

—

442,022

0.1

7,769

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.

31

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

30.7

Health

Care

13.2

Consumer

Discretionary

13.0

Communication

Services

12.3

Financials

11.3

Industrials

6.6

Consumer

Staples

5.7

Energy

2.1

Materials

1.7

Utilities

1.6

Real

Estate

1.6

Registered

Investment

Companies

0.1

99.9

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

S&P

500

E-mini

2

12/17/2021

441,274

459,700

18,426

32

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.7%

Communication

Services

–

2.7%

Altice

USA,

Inc.,

Class

A

(a)

2,145

34,964

Bumble,

Inc.,

Class

A

(a)

849

44,590

Cable

One,

Inc.

57

97,539

Discovery,

Inc.,

Class

A

(a)(b)

2,144

50,255

Discovery,

Inc.,

Class

C

(a)

3,727

84,081

DISH

Network

Corp.,

Class

A

(a)

3,019

123,990

Fox

Corp.,

Class

A

3,890

154,589

Fox

Corp.,

Class

B

1,847

68,265

IAC/InterActiveCorp

(a)

1,044

159,074

Interpublic

Group

of

Cos.,

Inc.

(The)

4,893

178,937

Liberty

Media

Corp.-Liberty

Formula

One,

Class

A

(a)

315

16,427

Liberty

Media

Corp.-Liberty

Formula

One,

Class

C

(a)

2,527

141,007

Liberty

Media

Corp.-Liberty

SiriusXM,

Class

A

(a)

1,034

51,473

Liberty

Media

Corp.-Liberty

SiriusXM,

Class

C

(a)

2,053

101,254

Live

Nation

Entertainment,

Inc.

(a)(b)

1,576

159,412

Lumen

Technologies,

Inc.

(b)

12,269

145,510

New

York

Times

Co.

(The),

Class

A

2,029

110,763

News

Corp.,

Class

A

4,869

111,500

News

Corp.,

Class

B

1,513

34,133

Omnicom

Group,

Inc.

2,647

180,208

Pinterest,

Inc.,

Class

A

(a)

6,712

299,624

Playtika

Holding

Corp.

(a)

1,283

36,283

Sirius

XM

Holdings,

Inc.

(b)

9,488

57,782

Take-Two

Interactive

Software,

Inc.

(a)

1,432

259,192

ViacomCBS,

Inc.,

Class

A

123

4,788

ViacomCBS,

Inc.,

Class

B

7,194

260,567

Zynga,

Inc.,

Class

A

(a)

12,605

93,025

3,059,232

Consumer

Discretionary

–

12.6%

Advance

Auto

Parts,

Inc.

820

184,926

Airbnb,

Inc.,

Class

A

(a)

4,013

684,859

Aramark

3,064

111,775

Autoliv,

Inc.

954

92,395

AutoNation,

Inc.

(a)

573

69,402

AutoZone,

Inc.

(a)

257

458,704

Bath

&

Body

Works,

Inc.

3,274

226,201

Best

Buy

Co.,

Inc.

2,745

335,549

BorgWarner,

Inc.

3,018

136,021

Boyd

Gaming

Corp.

(a)

1,040

66,331

Bright

Horizons

Family

Solutions,

Inc.

(a)

769

127,654

Brunswick

Corp.

964

89,739

Burlington

Stores,

Inc.

(a)

823

227,387

Caesars

Entertainment,

Inc.

(a)

2,685

293,900

Capri

Holdings

Ltd.

(a)

1,881

100,144

CarMax,

Inc.

(a)

2,008

274,935

Carnival

Corp.

(a)

9,730

215,617

Carvana

Co.,

Class

A

(a)

1,015

307,728

Chegg,

Inc.

(a)(b)

1,462

86,901

Chewy,

Inc.,

Class

A

(a)(b)

1,038

78,680

Churchill

Downs,

Inc.

418

96,140

D.R.

Horton,

Inc.

3,901

348,242

Darden

Restaurants,

Inc.

1,608

231,777

Deckers

Outdoor

Corp.

(a)

348

137,568

Dollar

Tree,

Inc.

(a)

2,798

301,513

Domino's

Pizza,

Inc.

458

223,948

Draftkings,

Inc.,

Class

A

(a)(b)

4,021

187,338

Etsy,

Inc.

(a)(b)

1,519

380,798

Expedia

Group,

Inc.

(a)

1,749

287,553

Five

Below,

Inc.

(a)

703

138,702

Floor

&

Decor

Holdings,

Inc.,

Class

A

(a)

1,310

178,055

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Consumer

Discretionary

–

12.6%

(continued)

Gamestop

Corp.,

Class

A

(a)(b)

750

137,633

Gap,

Inc.

(The)

2,674

60,673

Garmin

Ltd.

1,841

264,368

Gentex

Corp.

2,552

90,315

Genuine

Parts

Co.

1,784

233,900

Harley-Davidson,

Inc.

1,858

67,798

Hasbro,

Inc.

1,577

151,014

Hilton

Worldwide

Holdings,

Inc.

(a)

3,334

479,929

Kohl's

Corp.

1,933

93,809

Lear

Corp.

716

123,045

Lennar

Corp.,

Class

A

3,250

324,773

Lennar

Corp.,

Class

B

211

17,319

Lithia

Motors,

Inc.,

Class

A

(b)

368

117,473

LKQ

Corp.

(a)

3,481

191,734

Mattel,

Inc.

(a)

4,341

94,677

MGM

Resorts

International

4,739

223,491

Mohawk

Industries,

Inc.

(a)

657

116,427

Newell

Brands,

Inc.

4,681

107,148

Norwegian

Cruise

Line

Holdings

Ltd.

(a)(b)

4,524

116,357

NVR,

Inc.

(a)

39

190,897

Peloton

Interactive,

Inc.,

Class

A

(a)

3,153

288,310

Penn

National

Gaming,

Inc.

(a)(b)

1,881

134,680

Polaris,

Inc.

(b)

695

79,890

Pool

Corp.

493

253,974

PulteGroup,

Inc.

2,914

140,105

PVH

Corp.

(a)

856

93,587

QuantumScape

Corp.,

Class

A

(a)(b)

2,654

76,807

RH

(a)

207

136,543

Royal

Caribbean

Cruises

Ltd.

(a)

2,671

225,513

Service

Corp.

International

2,089

143,076

Tapestry,

Inc.

3,384

131,908

Tempur

Sealy

International,

Inc.

2,279

101,347

Texas

Roadhouse,

Inc.,

Class

A

793

70,426

Thor

Industries,

Inc.

642

65,458

Toll

Brothers,

Inc.

1,373

82,613

Tractor

Supply

Co.

1,361

295,568

Ulta

Beauty,

Inc.

(a)

673

247,233

Under

Armour,

Inc.,

Class

A

(a)

2,306

50,640

Under

Armour,

Inc.,

Class

C

(a)

2,232

42,140

Vail

Resorts,

Inc.

497

171,321

VF

Corp.

3,971

289,407

Wayfair,

Inc.,

Class

A

(a)(b)

912

227,179

Whirlpool

Corp.

734

154,749

Williams-Sonoma,

Inc.

891

165,485

Wynn

Resorts

Ltd.

(a)

1,311

117,728

YETI

Holdings,

Inc.

(a)

1,023

100,592

Yum!

Brands,

Inc.

3,652

456,281

14,225,822

Consumer

Staples

–

3.6%

Archer-Daniels-Midland

Co.

6,855

440,365

Beyond

Meat,

Inc.

(a)(b)

548

54,241

Boston

Beer

Co.,

Inc.

(The),

Class

A

(a)

86

42,353

Brown-Forman

Corp.,

Class

A

519

33,232

Brown-Forman

Corp.,

Class

B

2,057

139,650

Bunge

Ltd.

1,615

149,614

Campbell

Soup

Co.

2,558

102,192

Casey's

General

Stores,

Inc.

450

86,193

Church

&

Dwight

Co.,

Inc.

3,005

262,517

Clorox

Co.

(The)

1,422

231,800

ConAgra

Brands,

Inc.

5,904

190,109

Coty,

Inc.,

Class

A

(a)

3,495

29,638

33

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Consumer

Staples

–

3.6%

(continued)

Darling

Ingredients,

Inc.

(a)

2,006

169,547

Freshpet,

Inc.

(a)

528

82,320

Hershey

Co.

(The)

1,777

311,597

Hormel

Foods

Corp.

3,436

145,411

JM

Smucker

Co.

(The)

(b)

1,341

164,755

Kellogg

Co.

3,113

190,827

Kroger

Co.

(The)

8,529

341,331

Lamb

Weston

Holdings,

Inc.

1,804

101,836

McCormick

&

Co.,

Inc.

3,042

244,060

Molson

Coors

Beverage

Co.,

Class

B

2,316

102,112

Performance

Food

Group

Co.

(a)

1,893

85,620

Tyson

Foods,

Inc.,

Class

A

3,641

291,171

US

Foods

Holding

Corp.

(a)

2,746

95,204

4,087,695

Energy

–

4.7%

APA

Corp.

4,606

120,723

Baker

Hughes

Co.,

Class

A

(b)

9,845

246,913

Cheniere

Energy,

Inc.

(a)

2,824

292,002

Continental

Resources,

Inc.

(b)

740

36,119

Coterra

Energy,

Inc.

9,816

209,277

Devon

Energy

Corp.

7,728

309,738

Diamondback

Energy,

Inc.

2,029

217,488

Halliburton

Co.

10,919

272,866

Hess

Corp.

3,347

276,362

Marathon

Oil

Corp.

9,793

159,822

Marathon

Petroleum

Corp.

7,675

506,013

Occidental

Petroleum

Corp.

10,786

361,654

ONEOK,

Inc.

5,503

350,101

Phillips

66

5,286

395,287

Pioneer

Natural

Resources

Co.

2,697

504,285

Targa

Resources

Corp.

2,831

154,771

Texas

Pacific

Land

Corp.

67

85,336

Valero

Energy

Corp.

4,937

381,778

Williams

Cos.,

Inc.

(The)

14,907

418,738

5,299,273

Financials

–

12.2%

Aflac,

Inc.

7,367

395,387

AGNC

Investment

Corp.

(c)

6,628

105,518

Alleghany

Corp.

(a)

169

110,083

Ally

Financial,

Inc.

4,305

205,521

American

Financial

Group,

Inc.

755

102,710

Ameriprise

Financial,

Inc.

1,372

414,522

Annaly

Capital

Management,

Inc.

(c)

17,160

145,173

Apollo

Global

Management,

Inc.,

Class

A

(b)

2,605

200,455

Arch

Capital

Group

Ltd.

(a)

4,913

205,462

Ares

Management

Corp.,

Class

A

1,918

162,531

Arthur

J

Gallagher

&

Co.

2,526

423,534

Assurant,

Inc.

736

118,724

Athene

Holding

Ltd.,

Class

A

(a)

1,500

130,515

Brown

&

Brown,

Inc.

2,885

182,072

Carlyle

Group,

Inc.

(The)

1,640

92,086

Cincinnati

Financial

Corp.

1,855

225,271

Citizens

Financial

Group,

Inc.

5,240

248,271

Comerica,

Inc.

1,529

130,103

Commerce

Bancshares,

Inc.

1,268

89,407

Cullen/Frost

Bankers,

Inc.

684

88,578

Discover

Financial

Services

3,594

407,272

East

West

Bancorp,

Inc.

1,731

137,580

Equitable

Holdings,

Inc.

4,752

159,192

Erie

Indemnity

Co.,

Class

A

307

63,184

Everest

Re

Group

Ltd.

494

129,181

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Financials

–

12.2%

(continued)

FactSet

Research

Systems,

Inc.

466

206,853

Fidelity

National

Financial,

Inc.

3,565

170,799

Fifth

Third

Bancorp

8,175

355,858

First

Citizens

BancShares,

Inc.,

Class

A

(b)

90

73,251

First

Horizon

National

Corp.

6,654

112,918

First

Republic

Bank

2,157

466,624

Franklin

Resources,

Inc.

3,385

106,594

Globe

Life,

Inc.

1,180

105,043

Hartford

Financial

Services

Group,

Inc.

(The)

4,115

300,107

Huntington

Bancshares,

Inc.

18,093

284,784

Invesco

Ltd.

3,926

99,760

Jefferies

Financial

Group,

Inc.

2,491

107,113

KeyCorp

11,537

268,466

KKR

&

Co.,

Inc.,

Class

A

7,137

568,605

Lincoln

National

Corp.

2,208

159,307

Loews

Corp.

2,311

129,578

LPL

Financial

Holdings,

Inc.

988

162,052

M&T

Bank

Corp.

1,574

231,567

Markel

Corp.

(a)

170

223,232

MarketAxess

Holdings,

Inc.

434

177,363

Morningstar,

Inc.

260

82,355

NASDAQ,

Inc.

1,407

295,287

Northern

Trust

Corp.

2,570

316,213

Old

Republic

International

Corp.

2,978

76,922

OneMain

Holdings,

Inc.,

Class

A

1,332

70,343

People's

United

Financial,

Inc.

5,121

87,774

Principal

Financial

Group,

Inc.

3,129

209,925

Raymond

James

Financial,

Inc.

2,262

223,010

Regions

Financial

Corp.

11,781

278,974

Reinsurance

Group

of

America,

Inc.,

Class

A

849

100,250

RenaissanceRe

Holdings

Ltd.

607

86,072

SEI

Investments

Co.

1,203

75,837

Signature

Bank

711

211,750

SoFi

Technologies,

Inc.

(a)(b)

6,588

132,353

Starwood

Property

Trust,

Inc.

(c)

3,566

90,826

State

Street

Corp.

4,422

435,788

SVB

Financial

Group

(a)

703

504,332

Synchrony

Financial

6,904

320,691

Tradeweb

Markets,

Inc.,

Class

A

1,174

104,603

Upstart

Holdings,

Inc.

(a)

555

178,732

Voya

Financial,

Inc.

(b)

1,261

87,980

W.R.

Berkley

Corp.

1,698

135,161

Western

Alliance

Bancorp

1,286

149,292

Willis

Towers

Watson

PLC

1,583

383,529

Zions

Bancorp

NA

2,032

127,996

13,748,201

Health

Care

–

11.4%

10x

Genomics,

Inc.,

Class

A

(a)(b)

1,053

169,817

ABIOMED,

Inc.

(a)

529

175,649

Acceleron

Pharma,

Inc.

(a)

636

110,778

Alnylam

Pharmaceuticals,

Inc.

(a)

1,451

231,522

Amedisys,

Inc.

(a)

325

55,035

AmerisourceBergen

Corp.,

Class

A

1,840

224,517

Arrowhead

Pharmaceuticals,

Inc.

(a)

1,250

79,775

Avantor,

Inc.

(a)

6,936

280,076

BioMarin

Pharmaceutical,

Inc.

(a)

2,235

177,079

BIO-RAD

Laboratories,

Inc.,

Class

A

(a)

266

211,385

Bio-Techne

Corp.

480

251,352

Bridgebio

Pharma,

Inc.

(a)(b)

1,177

58,120

Bruker

Corp.

1,231

98,849

Cardinal

Health,

Inc.

3,562

170,299

34

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Health

Care

–

11.4%

(continued)

Catalent,

Inc.

(a)

2,099

289,368

Cerner

Corp.

3,431

254,889

Charles

River

Laboratories

International,

Inc.

(a)

621

278,630

Chemed

Corp.

199

95,968

Cooper

Cos.,

Inc.

(The)

608

253,487

CRISPR

Therapeutics

AG

(a)

884

80,736

DaVita,

Inc.

(a)

773

79,805

DENTSPLY

SIRONA,

Inc.

2,731

156,241

DexCom,

Inc.

(a)

1,177

733,518

Elanco

Animal

Health,

Inc.

(a)

5,861

192,710

Encompass

Health

Corp.

1,197

76,081

Exact

Sciences

Corp.

(a)(b)

2,125

202,343

Exelixis,

Inc.

(a)

4,045

87,008

Fate

Therapeutics,

Inc.

(a)

964

51,863

Guardant

Health,

Inc.

(a)

1,197

139,798

Henry

Schein,

Inc.

(a)

1,736

132,544

Hill-Rom

Holdings,

Inc.

813

125,934

Hologic,

Inc.

(a)

2,995

219,563

Horizon

Therapeutics

PLC

(a)

2,694

323,038

Incyte

Corp.

(a)

2,285

153,049

Insulet

Corp.

(a)

809

250,806

Jazz

Pharmaceuticals

PLC

(a)

729

96,986

Laboratory

Corp.

of

America

Holdings

(a)

1,161

333,230

LHC

Group,

Inc.

(a)

320

43,069

Masimo

Corp.

(a)

624

176,929

McKesson

Corp.

1,848

384,162

Mettler-Toledo

International,

Inc.

(a)

275

407,242

Mirati

Therapeutics,

Inc.

(a)

532

100,559

Molina

Healthcare,

Inc.

(a)

724

214,101

Natera,

Inc.

(a)

1,050

120,299

Neurocrine

Biosciences,

Inc.

(a)

1,170

123,330

Novavax,

Inc.

(a)(b)

775

115,343

Novocure

Ltd.

(a)(b)

1,056

108,314

Penumbra,

Inc.

(a)

424

117,257

PerkinElmer,

Inc.

1,386

245,170

PPD,

Inc.

(a)

1,553

73,255

Quest

Diagnostics,

Inc.

1,548

227,215

Repligen

Corp.

(a)

650

188,825

ResMed,

Inc.

1,744

458,515

Royalty

Pharma

PLC,

Class

A

4,011

158,555

Seagen,

Inc.

(a)

1,577

278,072

Sotera

Health

Co.

(a)

1,324

32,703

STERIS

PLC

1,208

282,358

Syneos

Health,

Inc.,

Class

A

(a)

1,222

114,061

Teladoc

Health,

Inc.

(a)

1,817

271,805

Teleflex,

Inc.

579

206,668

Ultragenyx

Pharmaceutical,

Inc.

(a)

770

64,618

United

Therapeutics

Corp.

(a)

540

103,010

Universal

Health

Services,

Inc.,

Class

B

875

108,588

Viatris,

Inc.

14,828

197,954

Waters

Corp.

(a)

755

277,500

West

Pharmaceutical

Services,

Inc.

910

391,191

Zimmer

Biomet

Holdings,

Inc.

2,558

366,101

12,858,617

Industrials

–

14.6%

Advanced

Drainage

Systems,

Inc.

708

79,862

AECOM

(a)

1,708

116,776

AGCO

Corp.

748

91,413

Alaska

Air

Group,

Inc.

(a)

1,557

82,210

Allegion

PLC

1,101

141,258

AMERCO

111

81,806

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Industrials

–

14.6%

(continued)

American

Airlines

Group,

Inc.

(a)

7,800

149,760

AMETEK,

Inc.

2,834

375,222

AO

Smith

Corp.

1,664

121,588

Axon

Enterprise,

Inc.

(a)

741

133,350

Azek

Co.,

Inc.

(The),

Class

A

(a)

1,289

47,293

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

1,679

145,838

Builders

FirstSource,

Inc.

(a)

2,570

149,754

Carlisle

Cos.,

Inc.

658

146,681

CH

Robinson

Worldwide,

Inc.

1,641

159,161

ChargePoint

Holdings,

Inc.

(a)(b)

1,279

31,694

Clarivate

PLC

(a)

4,381

102,734

Copart,

Inc.

(a)

2,566

398,474

CoStar

Group,

Inc.

(a)

4,840

416,482

Delta

Air

Lines,

Inc.

(a)

7,481

292,732

Donaldson

Co.,

Inc.

1,564

93,856

Dover

Corp.

1,767

298,764

Dun

&

Bradstreet

Holdings,

Inc.

(a)

1,612

30,370

Equifax,

Inc.

1,462

405,603

Expeditors

International

of

Washington,

Inc.

2,090

257,613

Fastenal

Co.

7,047

402,243

Fortive

Corp.

4,303

325,780

Fortune

Brands

Home

&

Security,

Inc.

1,579

160,111

Generac

Holdings,

Inc.

(a)

777

387,381

Graco,

Inc.

2,095

157,502

HEICO

Corp.

531

74,016

HEICO

Corp.,

Class

A

914

114,872

Howmet

Aerospace,

Inc.

4,824

143,225

Hubbell,

Inc.,

Class

B

670

133,578

Huntington

Ingalls

Industries,

Inc.

499

101,162

IAA,

Inc.

(a)

1,430

85,299

IDEX

Corp.

942

209,661

Ingersoll

Rand,

Inc.

(a)

4,806

258,371

ITT,

Inc.

1,068

100,467

Jacobs

Engineering

Group,

Inc.

1,612

226,357

JB

Hunt

Transport

Services,

Inc.

1,020

201,134

Kansas

City

Southern

1,117

346,549

Knight-Swift

Transportation

Holdings,

Inc.,

Class

A

1,839

104,253

Leidos

Holdings,

Inc.

1,749

174,865

Lennox

International,

Inc.

427

127,793

Lincoln

Electric

Holdings,

Inc.

747

106,373

Lyft,

Inc.,

Class

A

(a)

3,487

159,949

Masco

Corp.

2,804

183,802

MasTec,

Inc.

(a)

670

59,717

Middleby

Corp.

(The)

(a)

675

123,147

Nielsen

Holdings

PLC

4,444

89,991

Nordson

Corp.

667

169,558

Old

Dominion

Freight

Line,

Inc.

1,125

384,019

Oshkosh

Corp.

867

92,769

Otis

Worldwide

Corp.

5,089

408,698

Owens

Corning

1,190

111,158

PACCAR,

Inc.

4,257

381,512

Pentair

PLC

2,098

155,189

Plug

Power,

Inc.

(a)(b)

6,215

237,848

Quanta

Services,

Inc.

1,721

208,723

Republic

Services,

Inc.,

Class

A

2,473

332,866

Robert

Half

International,

Inc.

1,399

158,185

Rockwell

Automation,

Inc.

1,376

439,494

Rollins,

Inc.

2,685

94,593

Sensata

Technologies

Holding

PLC

(a)

1,975

108,822

SiteOne

Landscape

Supply,

Inc.

(a)

540

126,878

Snap-On,

Inc.

604

122,751

35

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Industrials

–

14.6%

(continued)

Southwest

Airlines

Co.

(a)

6,940

328,123

Stanley

Black

&

Decker,

Inc.

1,980

355,865

Sunrun,

Inc.

(a)(b)

2,463

142,066

Textron,

Inc.

2,796

206,485

Toro

Co.

(The)

1,327

126,689

TransDigm

Group,

Inc.

(a)

651

406,107

TransUnion

2,366

272,776

Trex

Co.,

Inc.

(a)(b)

1,448

154,067

TuSimple

Holdings,

Inc.,

Class

A

(a)(b)

108

4,225

United

Airlines

Holdings,

Inc.

(a)

3,944

181,976

United

Rentals,

Inc.

(a)

889

337,029

Verisk

Analytics,

Inc.,

Class

A

1,913

402,246

Vertiv

Holdings

Co.,

Class

A

3,468

89,058

Watsco,

Inc.

407

117,859

Westinghouse

Air

Brake

Technologies

Corp.

2,166

196,521

Woodward,

Inc.

733

82,792

WW

Grainger,

Inc.

503

232,944

XPO

Logistics,

Inc.

(a)

1,235

105,963

Xylem,

Inc.

2,203

287,690

16,471,436

Information

Technology

–

19.7%

Affirm

Holdings,

Inc.,

Class

A

(a)

1,110

180,375

Akamai

Technologies,

Inc.

(a)

2,006

211,553

Anaplan,

Inc.

(a)

1,765

115,096

ANSYS,

Inc.

(a)

1,069

405,771

AppLovin

Corp.,

Class

A

(a)

294

28,886

Arista

Networks,

Inc.

(a)

674

276,131

Arrow

Electronics,

Inc.

(a)

917

106,143

Aspen

Technology,

Inc.

(a)

846

132,560

Avalara,

Inc.

(a)

1,060

190,418

Bill.com

Holdings,

Inc.

(a)

1,068

314,323

Black

Knight,

Inc.

(a)

1,929

135,242

Broadridge

Financial

Solutions,

Inc.

1,437

256,375

Brooks

Automation,

Inc.

898

104,572

Cadence

Design

Systems,

Inc.

(a)

3,368

583,035

CDW

Corp.

1,722

321,411

Ceridian

HCM

Holding,

Inc.

(a)

1,658

207,665

Ciena

Corp.

(a)

1,937

105,160

Citrix

Systems,

Inc.

1,508

142,853

Cloudflare,

Inc.,

Class

A

(a)

3,181

619,404

Cognex

Corp.

2,193

192,085

Concentrix

Corp.

519

92,216

Corning,

Inc.

9,028

321,126

Coupa

Software,

Inc.

(a)(b)

880

200,376

Datadog,

Inc.,

Class

A

(a)

2,887

482,273

Dell

Technologies,

Inc.,

Class

C

(a)

3,302

363,187

Dropbox,

Inc.,

Class

A

(a)

3,679

112,173

DXC

Technology

Co.

(a)

3,074

100,120

Dynatrace,

Inc.

(a)

2,432

182,400

Elastic

NV

(a)

849

147,310

Enphase

Energy,

Inc.

(a)

1,562

361,806

Entegris,

Inc.

1,679

236,370

EPAM

Systems,

Inc.

(a)

695

467,902

Euronet

Worldwide,

Inc.

(a)

657

73,709

F5

Networks,

Inc.

(a)

713

150,550

Fair

Isaac

Corp.

(a)

351

139,768

First

Solar,

Inc.

(a)

1,144

136,811

Five9,

Inc.

(a)

833

131,622

FleetCor

Technologies,

Inc.

(a)

969

239,740

Flex

Ltd.

(a)

5,548

93,761

Fortinet,

Inc.

(a)

1,633

549,243

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Information

Technology

–

19.7%

(continued)

Gartner,

Inc.

(a)

1,023

339,544

Genpact

Ltd.

1,970

97,220

GoDaddy,

Inc.,

Class

A

(a)

2,091

144,635

Guidewire

Software,

Inc.

(a)

1,036

130,256

Hewlett

Packard

Enterprise

Co.

16,022

234,722

HubSpot,

Inc.

(a)

536

434,283

IPG

Photonics

Corp.

(a)

430

68,374

Jabil,

Inc.

1,792

107,448

Jack

Henry

&

Associates,

Inc.

931

154,993

Juniper

Networks,

Inc.

4,060

119,851

Keysight

Technologies,

Inc.

(a)

2,271

408,825

Manhattan

Associates,

Inc.

(a)

723

131,253

Marvell

Technology,

Inc.

9,881

676,849

MKS

Instruments,

Inc.

699

104,885

MongoDB,

Inc.,

Class

A

(a)

775

404,000

Monolithic

Power

Systems,

Inc.

532

279,545

Motorola

Solutions,

Inc.

2,096

521,045

NetApp,

Inc.

2,721

242,985

NortonLifeLock,

Inc.

7,093

180,517

Nuance

Communications,

Inc.

(a)

3,470

191,024

Okta,

Inc.,

Class

A

(a)(b)

1,534

379,174

ON

Semiconductor

Corp.

(a)

5,279

253,762

Palo

Alto

Networks,

Inc.

(a)

1,195

608,363

Paychex,

Inc.

3,785

466,615

Paycom

Software,

Inc.

(a)

578

316,657

Paylocity

Holding

Corp.

(a)

487

148,603

Pegasystems,

Inc.

477

56,629

PTC,

Inc.

(a)

1,295

164,918

Qorvo,

Inc.

(a)

1,299

218,531

RingCentral,

Inc.,

Class

A

(a)

927

225,984

Seagate

Technology

Holdings

PLC

(b)

2,443

217,598

Skyworks

Solutions,

Inc.

2,024

338,271

Smartsheet,

Inc.,

Class

A

(a)

1,484

102,411

SolarEdge

Technologies,

Inc.

(a)

641

227,350

Splunk,

Inc.

(a)

1,915

315,630

SS&C

Technologies

Holdings,

Inc.

2,591

205,907

Teledyne

Technologies,

Inc.

(a)

568

255,157

Teradyne,

Inc.

1,931

266,941

Trade

Desk,

Inc.

(The),

Class

A

(a)

5,320

398,521

Trimble,

Inc.

(a)

3,100

270,847

Tyler

Technologies,

Inc.

(a)

502

272,696

Ubiquiti,

Inc.

65

19,859

Universal

Display

Corp.

532

97,462

VeriSign,

Inc.

(a)

1,132

252,062

VMware,

Inc.,

Class

A

(a)(b)

998

151,397

Western

Digital

Corp.

(a)

3,524

184,270

Western

Union

Co.

(The)

5,106

93,031

WEX,

Inc.

(a)

565

84,581

Wolfspeed,

Inc.

(a)(b)

1,275

153,140

Xilinx,

Inc.

3,016

542,880

Zebra

Technologies

Corp.,

Class

A

(a)

657

350,805

Zendesk,

Inc.

(a)(b)

1,446

147,203

Zscaler,

Inc.

(a)

925

294,946

22,265,976

Materials

–

5.3%

Albemarle

Corp.

1,441

360,927

Amcor

PLC

18,865

227,701

AptarGroup,

Inc.

711

85,875

Avery

Dennison

Corp.

1,026

223,381

Axalta

Coating

Systems

Ltd.

(a)

2,479

77,320

Ball

Corp.

3,901

356,863

36

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Materials

–

5.3%

(continued)

Berry

Global

Group,

Inc.

(a)

1,647

107,944

Celanese

Corp.,

Class

A

1,273

205,602

CF

Industries

Holdings,

Inc.

2,695

153,076

Cleveland-Cliffs,

Inc.

(a)(b)

5,571

134,317

Corteva,

Inc.

8,630

372,384

Crown

Holdings,

Inc.

1,549

161,080

Eastman

Chemical

Co.

1,541

160,310

FMC

Corp.

1,566

142,522

International

Flavors

&

Fragrances,

Inc.,

Class

W

3,053

450,165

International

Paper

Co.

4,543

225,651

LyondellBasell

Industries

NV,

Class

A

3,179

295,075

Martin

Marietta

Materials,

Inc.

767

301,308

Mosaic

Co.

(The)

4,054

168,525

Nucor

Corp.

3,551

396,469

Packaging

Corp.

of

America

1,172

160,998

Reliance

Steel

&

Aluminum

Co.

792

115,759

Royal

Gold,

Inc.

814

80,602

RPM

International,

Inc.

1,599

139,433

Scotts

Miracle-GRO

Co.

(The)

514

76,308

Sealed

Air

Corp.

1,888

111,996

Steel

Dynamics,

Inc.

2,320

153,306

Vulcan

Materials

Co.

1,622

308,375

Westlake

Chemical

Corp.

431

41,953

Westrock

Co.

3,301

158,778

5,954,003

Real

Estate

–

8.1%

Alexandria

Real

Estate

Equities,

Inc.

(c)

1,623

331,319

American

Homes

4

Rent,

Class

A

(c)

3,400

138,040

Americold

Realty

Trust

(c)

3,218

94,834

AvalonBay

Communities,

Inc.

(c)

1,641

388,392

Boston

Properties,

Inc.

(c)

1,758

199,779

Camden

Property

Trust

(c)

1,204

196,372

CBRE

Group,

Inc.,

Class

A

(a)

3,996

415,904

CubeSmart

(c)

2,461

135,380

CyrusOne,

Inc.

(c)

1,523

124,916

Duke

Realty

Corp.

(c)

4,636

260,729

Equity

LifeStyle

Properties,

Inc.

(c)

2,063

174,344

Equity

Residential

(c)

3,992

344,909

Essex

Property

Trust,

Inc.

(c)

765

260,046

Extra

Space

Storage,

Inc.

(c)

1,642

324,082

Federal

Realty

Investment

Trust

(c)

878

105,667

Gaming

and

Leisure

Properties,

Inc.

(c)

2,765

134,075

Healthpeak

Properties,

Inc.

(c)

6,645

235,964

Host

Hotels

&

Resorts,

Inc.

(a)(c)

8,871

149,299

Invitation

Homes,

Inc.

(c)

7,021

289,616

Iron

Mountain,

Inc.

(b)(c)

3,557

162,342

Jones

Lang

LaSalle,

Inc.

(a)

633

163,460

Kilroy

Realty

Corp.

(c)

1,317

88,739

Kimco

Realty

Corp.

(c)

7,364

166,426

Lamar

Advertising

Co.,

Class

A

(c)

1,074

121,577

Medical

Properties

Trust,

Inc.

(c)

7,342

156,605

Mid-America

Apartment

Communities,

Inc.

(c)

1,406

287,119

National

Retail

Properties,

Inc.

(c)

2,177

98,749

OMEGA

Healthcare

Investors,

Inc.

(c)

2,996

87,963

Opendoor

Technologies,

Inc.

(a)(b)

4,494

106,553

Realty

Income

Corp.

(b)(c)

4,742

338,721

Regency

Centers

Corp.

(c)

2,005

141,172

SBA

Communications

Corp.,

Class

A

(c)

1,303

449,965

STORE

Capital

Corp.

(c)

2,973

102,063

Sun

Communities,

Inc.

(c)

1,382

270,844

UDR,

Inc.

(c)

3,512

195,021

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Real

Estate

–

8.1%

(continued)

Ventas,

Inc.

(c)

4,637

247,477

Vereit,

Inc.

(a)(c)

2,809

141,293

VICI

Properties,

Inc.

(b)(c)

7,425

217,924

Vornado

Realty

Trust

(c)

1,936

82,532

W.P.

Carey,

Inc.

(b)(c)

2,198

169,488

Welltower,

Inc.

(c)

5,116

411,326

Weyerhaeuser

Co.

(c)

9,250

330,410

Zillow

Group,

Inc.,

Class

A

(a)

431

45,565

Zillow

Group,

Inc.,

Class

C

(a)

1,897

196,586

9,083,587

Utilities

–

4.8%

AES

Corp.

(The)

7,627

191,666

Alliant

Energy

Corp.

3,054

172,765

Ameren

Corp.

2,985

251,606

American

Water

Works

Co.,

Inc.

2,137

372,223

Atmos

Energy

Corp.

1,612

148,497

Avangrid,

Inc.

(b)

887

46,745

CenterPoint

Energy,

Inc.

7,078

184,311

CMS

Energy

Corp.

3,559

214,786

Consolidated

Edison,

Inc.

4,209

317,359

DTE

Energy

Co.

2,393

271,246

Edison

International

4,411

277,584

Entergy

Corp.

2,482

255,696

Essential

Utilities,

Inc.

2,783

130,996

Evergy,

Inc.

2,798

178,372

Eversource

Energy

4,212

357,599

FirstEnergy

Corp.

6,299

242,700

NiSource,

Inc.

4,804

118,515

NRG

Energy,

Inc.

3,029

120,827

OGE

Energy

Corp.

2,533

86,299

PG&E

Corp.

(a)

18,304

212,326

Pinnacle

West

Capital

Corp.

1,421

91,640

PPL

Corp.

9,506

273,773

Public

Service

Enterprise

Group,

Inc.

5,946

379,355

UGI

Corp.

2,582

112,085

Vistra

Corp.

5,854

114,680

WEC

Energy

Group,

Inc.

3,868

348,352

5,472,003

Total

Common

Stocks

(cost

$85,693,394)

112,525,845

Investment

Companies

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$240,646)

240,646

240,646

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.8%

Registered

Investment

Companies

–

0.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$897,130)

897,130

897,130

Total

Investments

(cost

$86,831,170)

100.7%

113,663,621

Liabilities,

Less

Cash

and

Receivables

(0.7)%

(822,231)

Net

Assets

100.0%

112,841,390

37

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$5,928,369

and

the

value

of

the

collateral

was

$6,087,464,

consisting

of

cash

collateral

of

$897,130

and

U.S.

Government

&

Agency

securities

valued

at

$5,190,334.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021

are

as

follows:

(e)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

130,161

2,686,453

(2,575,968)

—

—

240,646

0.2

17

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

330,606

5,547,855

(4,981,331)

—

—

897,130

0.8

9,402

2

Total

460,767

8,234,308

(7,557,299)

—

—

1,137,776

1.0

9,419

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

19.7

Industrials

14.6

Consumer

Discretionary

12.6

Financials

12.2

Health

Care

11.4

Real

Estate

8.1

Materials

5.3

Utilities

4.8

Energy

4.7

Consumer

Staples

3.6

Communication

Services

2.7

Registered

Investment

Companies

1.0

100.7

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

S&P

MidCap

400

E-mini

1

12/17/2021

266,988

278,940

11,952

38

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.8%

Communication

Services

–

3.3%

Advantage

Solutions,

Inc.

(a)

6,593

56,304

AMC

Entertainment

Holdings,

Inc.,

Class

A

(a)(b)

31,223

1,104,358

Bandwidth,

Inc.,

Class

A

(a)(b)

1,436

122,462

Cardlytics,

Inc.

(a)(b)

1,984

156,061

Cargurus,

Inc.,

Class

A

(a)

5,229

175,381

Cinemark

Holdings,

Inc.

(a)(b)

6,433

120,940

Cogent

Communications

Holdings,

Inc.

2,581

197,679

Iridium

Communications,

Inc.

(a)

7,985

323,792

John

Wiley

&

Sons,

Inc.,

Class

A

2,729

147,830

Liberty

Latin

America

Ltd.,

Class

A

(a)

2,311

27,778

Liberty

Latin

America

Ltd.,

Class

C

(a)

9,479

114,032

Lions

Gate

Entertainment

Corp.,

Class

A

(a)

3,682

47,682

Lions

Gate

Entertainment

Corp.,

Class

B

(a)

7,334

83,021

Madison

Square

Garden

Sports

Corp.,

Class

A

(a)

1,015

192,353

Magnite,

Inc.

(a)

6,904

186,615

Nexstar

Media

Group,

Inc.,

Class

A

2,557

383,371

Shenandoah

Telecommunications

Co.

3,195

88,310

Skillz,

Inc.,

Class

A

(a)(b)

15,803

176,678

TEGNA,

Inc.

13,447

264,368

Telephone

&

Data

Systems,

Inc.

5,781

108,336

TripAdvisor,

Inc.

(a)

5,987

197,391

Warner

Music

Group

Corp.,

Class

A

5,937

293,822

World

Wrestling

Entertainment,

Inc.,

Class

A

(b)

2,734

167,020

Yelp,

Inc.,

Class

A

(a)

4,206

162,478

Ziff

Davis,

Inc.

(a)

2,957

379,294

ZoomInfo

Technologies,

Inc.,

Class

A

(a)

11,070

744,125

6,021,481

Consumer

Discretionary

–

12.2%

2U,

Inc.

(a)(b)

4,673

138,040

Abercrombie

&

Fitch

Co.,

Class

A

(a)

3,878

153,336

Academy

Sports

&

Outdoors,

Inc.

(a)

5,319

227,547

Acushnet

Holdings

Corp.

2,011

102,440

Adient

PLC

(a)

5,711

237,692

American

Eagle

Outfitters,

Inc.

(b)

9,248

219,548

Asbury

Automotive

Group,

Inc.

(a)

1,172

229,372

Bally's

Corp.

(a)

1,857

85,069

Bed

Bath

&

Beyond,

Inc.

(a)

6,258

87,862

Big

Lots,

Inc.

2,186

96,731

Bloomin'

Brands,

Inc.

(a)

5,072

109,657

Brinker

International,

Inc.

(a)

2,871

120,467

Callaway

Golf

Co.

(a)

7,287

197,113

Canoo,

Inc.

(a)(b)

8,924

71,571

Carter's,

Inc.

2,627

258,812

Century

Communities,

Inc.

1,838

123,256

Cheesecake

Factory,

Inc.

(The)

(a)

2,888

117,368

Choice

Hotels

International,

Inc.

1,995

280,537

Columbia

Sportswear

Co.

2,115

219,622

Coursera,

Inc.

(a)

4,834

168,755

Cracker

Barrel

Old

Country

Store,

Inc.

1,436

191,232

Crocs,

Inc.

(a)

3,762

607,375

Dana,

Inc.

9,069

201,241

Dave

&

Buster's

Entertainment,

Inc.

(a)

2,327

86,402

Dick's

Sporting

Goods,

Inc.

3,957

491,499

Dorman

Products,

Inc.

(a)

1,733

180,891

Foot

Locker,

Inc.

5,441

259,372

Fox

Factory

Holding

Corp.

(a)

2,555

411,227

Frontdoor,

Inc.

(a)

5,204

194,005

Gentherm,

Inc.

(a)

2,068

152,267

Goodyear

Tire

&

Rubber

Co.

(The)

(a)

17,043

325,862

Graham

Holdings

Co.,

Class

B

254

148,806

Grand

Canyon

Education,

Inc.

(a)

2,726

217,262

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Consumer

Discretionary

–

12.2%

(continued)

Group

1

Automotive,

Inc.

(b)

1,109

199,398

Growgeneration

Corp.

(a)(b)

3,214

67,751

H&R

Block,

Inc.

10,859

250,517

Hanesbrands,

Inc.

21,150

360,396

Hayward

Holdings,

Inc.

(a)(b)

2,605

60,410

Helen

of

Troy

Ltd.

(a)

1,457

327,752

Hilton

Grand

Vacations,

Inc.

(a)

5,366

269,803

Hyatt

Hotels

Corp.,

Class

A

(a)

2,950

251,340

Installed

Building

Products,

Inc.

1,446

183,714

iRobot

Corp.

(a)(b)

1,765

147,236

Jack

In

The

Box,

Inc.

1,275

126,161

KB

Home

5,560

223,234

Kontoor

Brands,

Inc.

2,961

156,933

Latham

Group,

Inc.

(a)

1,287

19,820

LCI

Industries

1,531

213,789

Leggett

&

Platt,

Inc.

8,077

378,407

Leslie's,

Inc.

(a)

8,046

166,391

Levi

Strauss

&

Co.,

Class

A

5,676

148,598

LGI

Homes,

Inc.

(a)(b)

1,293

193,045

Luminar

Technologies,

Inc.,

Class

A

(a)(b)

13,254

217,233

Macy's,

Inc.

18,795

497,504

Marriott

Vacations

Worldwide

Corp.

2,590

407,200

MDC

Holdings,

Inc.

3,470

169,961

Meritage

Homes

Corp.

(a)

2,245

244,054

Monro,

Inc.

2,096

129,449

Murphy

USA,

Inc.

1,427

232,530

National

Vision

Holdings,

Inc.

(a)(b)

4,899

301,974

Nordstrom,

Inc.

(a)

6,815

195,795

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a)(b)

3,732

252,507

Overstock.Com,

Inc.

(a)

2,605

248,074

Papa

John's

International,

Inc.

1,976

245,182

Penske

Automotive

Group,

Inc.

1,958

207,646

Petco

Health

&

Wellness

Co.,

Inc.,

Class

A

(a)(b)

5,113

126,445

Planet

Fitness,

Inc.,

Class

A

(a)

5,035

400,534

Purple

Innovation,

Inc.,

Class

A

(a)

3,293

63,555

Qurate

Retail,

Inc.,

Series

A

22,010

229,784

Ralph

Lauren

Corp.,

Class

A

2,917

370,955

RealReal,

Inc.

(The)

(a)

4,827

62,896

Red

Rock

Resorts,

Inc.,

Class

A

(a)

3,663

199,304

Rent-A-Center,

Inc./Tx,

Class

A

3,746

199,512

Sally

Beauty

Holdings,

Inc.

(a)

7,069

107,873

Scientific

Games

Corp.

(a)

5,864

469,413

SeaWorld

Entertainment,

Inc.

(a)

3,216

204,216

Shake

Shack,

Inc.,

Class

A

(a)

2,434

168,360

Shutterstock,

Inc.

1,443

174,819

Signet

Jewelers

Ltd.

3,193

284,752

Six

Flags

Entertainment

Corp.

(a)

4,703

193,434

Skechers

USA,

Inc.,

Class

A

(a)

8,143

376,288

Skyline

Champion

Corp.

(a)

3,267

206,866

Sleep

Number

Corp.

(a)

1,396

123,323

Sonos,

Inc.

(a)

7,630

248,891

Steven

Madden

Ltd.

4,686

211,339

Stitch

Fix,

Inc.,

Class

A

(a)

4,357

150,752

Taylor

Morrison

Home

Corp.,

Class

A

(a)

7,603

232,120

Terminix

Global

Holdings,

Inc.

(a)

7,527

304,693

TopBuild

Corp.

(a)

2,002

514,454

Travel

+

Leisure

Co.

5,180

281,481

TRI

Pointe

Group,

Inc.

(a)

6,741

163,065

Urban

Outfitters,

Inc.

(a)

3,938

125,740

Veoneer,

Inc.

(a)(b)

6,233

219,402

Visteon

Corp.

(a)

1,744

197,386

Vivint

Smart

Home,

Inc.

(a)

2,504

22,711

39

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Consumer

Discretionary

–

12.2%

(continued)

Vizio

Holding

Corp.,

Class

A

(a)(b)

785

16,124

Vroom,

Inc.

(a)(b)

7,826

149,711

Wendy's

Co.

(The)

10,801

240,862

Wingstop,

Inc.

1,796

309,756

Winnebago

Industries,

Inc.

2,100

142,149

Wolverine

World

Wide,

Inc.

4,825

160,045

Wyndham

Hotels

&

Resorts,

Inc.

5,665

478,523

21,937,573

Consumer

Staples

–

2.8%

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

8,341

487,448

Celsius

Holdings,

Inc.

(a)

2,291

221,127

Central

Garden

&

Pet

Co.

(a)

549

28,317

Central

Garden

&

Pet

Co.,

Class

A

(a)

2,553

117,949

Coca-Cola

Consolidated,

Inc.

280

112,392

Duckhorn

Portfolio,

Inc.

(The)

(a)(b)

1,832

35,431

Energizer

Holdings,

Inc.

(b)

3,728

135,960

Flowers

Foods,

Inc.

12,107

299,648

Grocery

Outlet

Holding

Corp.

(a)

5,468

121,335

Hain

Celestial

Group,

Inc.

(The)

(a)

5,137

230,497

Herbalife

Nutrition

Ltd.

(a)

6,157

285,685

Ingredion,

Inc.

4,064

387,015

Inter

Parfums,

Inc.

1,112

102,727

J&J

Snack

Foods

Corp.

876

129,254

Lancaster

Colony

Corp.

1,228

208,760

Medifast,

Inc.

689

135,230

National

Beverage

Corp.

1,469

82,852

Nu

Skin

Enterprises,

Inc.,

Class

A

3,138

125,991

Pilgrim's

Pride

Corp.

(a)

3,051

85,916

Post

Holdings,

Inc.

(a)

3,569

362,182

PriceSmart,

Inc.

1,470

105,766

Reynolds

Consumer

Products,

Inc.

3,426

92,433

Sanderson

Farms,

Inc.

1,298

245,906

Seaboard

Corp.

16

61,600

Simply

Good

Foods

Co.

(The)

(a)

5,127

203,286

Spectrum

Brands

Holdings,

Inc.

2,585

242,344

Sprouts

Farmers

Market,

Inc.

(a)

6,830

151,216

TreeHouse

Foods,

Inc.

(a)

3,524

127,357

WD-40

Co.

843

191,361

5,116,985

Energy

–

3.0%

Antero

Midstream

Corp.

(b)

19,990

212,694

Antero

Resources

Corp.

(a)

17,422

346,175

Championx

Corp.

(a)

12,295

322,498

Chesapeake

Energy

Corp.

5,934

378,233

Clean

Energy

Fuels

Corp.

(a)(b)

10,251

94,514

CNX

Resources

Corp.

(a)

13,255

193,656

Denbury,

Inc.

(a)

3,048

258,044

EQT

Corp.

(a)

18,303

364,413

Equitrans

Midstream

Corp.

24,729

254,956

Helmerich

&

Payne,

Inc.

6,563

203,715

HollyFrontier

Corp.

9,093

307,343

Matador

Resources

Co.

6,688

279,893

Murphy

Oil

Corp.

8,830

245,739

NOV,

Inc.

(a)

23,559

330,297

Ovintiv,

Inc.

15,839

594,279

PDC

Energy,

Inc.

5,935

310,460

Range

Resources

Corp.

(a)

15,801

368,479

Renewable

Energy

Group,

Inc.

(a)

3,146

201,344

Southwestern

Energy

Co.

(a)

41,495

202,496

5,469,228

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Financials

–

15.8%

Affiliated

Managers

Group,

Inc.

2,509

421,211

American

Equity

Investment

Life

Holding

Co.

4,930

157,119

American

National

Group,

Inc.

784

148,733

Ameris

Bancorp

3,977

208,355

Arbor

Realty

Trust,

Inc.

(c)

8,798

176,928

Artisan

Partners

Asset

Management,

Inc.,

Class

A

3,982

197,268

Associated

Banc-Corp.

9,304

207,293

Assured

Guaranty

Ltd.

4,450

247,331

Atlantic

Union

Bankshares

Corp.

4,617

165,612

Axis

Capital

Holdings

Ltd.

4,710

245,250

Axos

Financial,

Inc.

(a)

3,249

172,197

BancFirst

Corp.

1,162

75,542

Bank

of

Hawaii

Corp.

2,462

208,039

Bank

OZK

7,401

330,603

BankUnited,

Inc.

5,668

229,894

Blackstone

Mortgage

Trust,

Inc.,

Class

A

(c)

9,540

313,866

BOK

Financial

Corp.

1,849

187,063

Brighthouse

Financial,

Inc.

(a)

5,033

252,808

Cadence

Bank

12,132

352,071

Cannae

Holdings,

Inc.

(a)

5,189

176,945

Cathay

General

Bancorp

4,798

202,428

Chimera

Investment

Corp.

(c)

14,341

223,863

CIT

Group,

Inc.

5,971

295,744

CNO

Financial

Group,

Inc.

7,925

191,309

Cohen

&

Steers,

Inc.

1,552

147,269

Coinbase

Global,

Inc.,

Class

A

(a)

1,741

556,110

Columbia

Banking

System,

Inc.

4,703

160,513

Community

Bank

System,

Inc.

3,283

235,293

Credit

Acceptance

Corp.

(a)(b)

542

324,230

CVB

Financial

Corp.

7,951

159,179

Eastern

Bankshares,

Inc.

10,280

213,516

Enstar

Group

Ltd.

(a)

747

172,393

Essent

Group

Ltd.

6,791

325,968

Evercore,

Inc.,

Class

A

2,394

363,505

Federated

Hermes,

Inc.,

Class

B

5,995

199,693

First

American

Financial

Corp.

6,703

490,257

First

Bancorp

12,484

170,407

First

Financial

Bancorp

6,035

143,512

First

Financial

Bankshares,

Inc.

7,743

392,725

First

Hawaiian,

Inc.

7,882

217,464

First

Merchants

Corp.

3,381

140,582

First

Midwest

Bancorp,

Inc.

7,111

136,887

FirstCash,

Inc.

2,425

214,540

Flagstar

Bancorp,

Inc.

3,212

151,574

FNB

Corp.

19,434

226,406

Focus

Financial

Partners,

Inc.,

Class

A

(a)

3,155

198,323

Freedom

Holding

Corp./NV

(a)(b)

1,057

70,491

Fulton

Financial

Corp.

10,095

162,529

Genworth

Financial,

Inc.,

Class

A

(a)

32,017

131,590

Glacier

Bancorp,

Inc.

6,519

360,436

Goosehead

Insurance,

Inc.,

Class

A

1,176

169,697

Green

Dot

Corp.,

Class

A

(a)

3,405

144,236

Hamilton

Lane,

Inc.,

Class

A

2,099

219,366

Hancock

Whitney

Corp.

5,283

261,403

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

(b)(c)

4,710

284,484

Hanover

Insurance

Group,

Inc.

(The)

2,163

272,538

Hilltop

Holdings,

Inc.

3,720

131,837

Home

Bancshares,

Inc.

9,182

218,164

Houlihan

Lokey,

Inc.,

Class

A

3,068

343,861

Independent

Bank

Corp.

2,061

174,154

40

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Financials

–

15.8%

(continued)

Independent

Bank

Group,

Inc.

2,291

165,616

Interactive

Brokers

Group,

Inc.,

Class

A

5,332

377,772

International

Bancshares

Corp.

3,199

135,638

Investors

Bancorp,

Inc.

13,705

209,686

Janus

Henderson

Group

PLC

10,401

483,647

Kemper

Corp.

3,615

229,480

Kinsale

Capital

Group,

Inc.

1,300

243,295

Lemonade,

Inc.

(a)(b)

2,351

146,138

LendingTree,

Inc.

(a)

695

112,166

Live

Oak

Bancshares,

Inc.

1,952

174,079

Mercury

General

Corp.

1,661

90,508

MGIC

Investment

Corp.

20,448

330,440

Moelis

&

Co.,

Class

A

3,715

270,229

Mr

Cooper

Group,

Inc.

(a)

5,282

231,563

Navient

Corp.

10,183

200,605

New

Residential

Investment

Corp.

(c)

28,048

318,625

New

York

Community

Bancorp,

Inc.

28,096

349,233

NMI

Holdings,

Inc.,

Class

A

(a)

5,358

130,092

Old

National

Bancorp

10,252

175,104

Open

Lending

Corp.,

Class

A

(a)

6,268

197,567

Oscar

Health,

Inc.,

Class

A

(a)

2,393

41,351

Pacific

Premier

Bancorp,

Inc.

5,757

241,736

PacWest

Bancorp

7,129

338,414

PennyMac

Financial

Services,

Inc.

2,011

124,803

Pinnacle

Financial

Partners,

Inc.

4,629

447,023

Popular,

Inc.

4,854

395,310

Primerica,

Inc.

2,393

402,598

Prog

Holdings,

Inc.

3,950

159,778

Prosperity

Bancshares,

Inc.

5,628

423,845

Radian

Group,

Inc.

11,401

272,142

Renasant

Corp.

3,501

130,972

RLI

Corp.

2,386

258,428

Rocket

Cos.,

Inc.,

Class

A

(b)

8,547

140,855

Selective

Insurance

Group,

Inc.

3,614

283,229

Selectquote,

Inc.

(a)

7,431

98,758

ServisFirst

Bancshares,

Inc.

(b)

2,954

237,236

Silvergate

Capital

Corp.,

Class

A

(a)

1,626

254,664

Simmons

First

National

Corp.,

Class

A

6,757

201,967

SLM

Corp.

18,466

338,851

South

State

Corp.

4,208

328,603

Sterling

Bancorp

11,721

298,299

Stifel

Financial

Corp.

6,381

464,983

Synovus

Financial

Corp.

8,829

411,343

Texas

Capital

Bancshares,

Inc.

(a)

3,057

185,254

TFS

Financial

Corp.

2,822

54,916

Towne

Bank

4,007

126,301

Triumph

Bancorp,

Inc.

(a)

1,414

165,862

Trupanion,

Inc.

(a)(b)

2,111

216,166

UMB

Financial

Corp.

2,582

255,153

Umpqua

Holdings

Corp.

13,383

273,682

United

Bankshares,

Inc.

7,882

291,555

United

Community

Banks,

Inc.

5,165

179,949

Unum

Group

12,335

314,172

Valley

National

Bancorp

24,758

328,291

Virtu

Financial,

Inc.,

Class

A

5,393

134,178

Walker

&

Dunlop,

Inc.

1,781

231,655

Washington

Federal,

Inc.

4,171

147,487

Webster

Financial

Corp.

5,510

308,340

WesBanco,

Inc.

3,965

137,863

White

Mountains

Insurance

Group

Ltd.

191

201,503

Wintrust

Financial

Corp.

3,469

307,007

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Financials

–

15.8%

(continued)

WSFS

Financial

Corp.

2,992

155,016

28,553,625

Health

Care

–

14.9%

1Life

Healthcare,

Inc.

(a)

7,151

154,891

Acadia

Healthcare

Co.,

Inc.

(a)

5,424

336,288

ACADIA

Pharmaceuticals,

Inc.

(a)

7,335

131,663

Accolade,

Inc.

(a)(b)

3,476

138,310

AdaptHealth

Corp.,

Class

A

(a)

6,000

163,500

Adaptive

Biotechnologies

Corp.

(a)

6,645

222,009

Agios

Pharmaceuticals,

Inc.

(a)(b)

3,611

169,717

Alignment

Healthcare,

Inc.

(a)(b)

1,764

35,033

Alkermes

PLC

(a)

9,811

297,175

Allakos,

Inc.

(a)

2,139

215,141

Allogene

Therapeutics,

Inc.

(a)

4,596

79,235

Allscripts

Healthcare

Solutions,

Inc.

(a)

7,520

103,626

ALX

Oncology

Holdings,

Inc.

(a)(b)

1,304

73,076

American

Well

Corp.,

Class

A

(a)(b)

10,821

97,389

Amicus

Therapeutics,

Inc.

(a)

14,369

150,875

AMN

Healthcare

Services,

Inc.

(a)

2,851

281,394

Apellis

Pharmaceuticals,

Inc.

(a)

4,407

135,471

Arcus

Biosciences,

Inc.

(a)

2,809

93,933

Arena

Pharmaceuticals,

Inc.

(a)

3,700

212,343

Arvinas,

Inc.

(a)

2,654

229,783

Atea

Pharmaceuticals,

Inc.

(a)(b)

3,275

38,121

AtriCure,

Inc.

(a)

2,778

208,517

Aveanna

Healthcare

Holdings,

Inc.

(a)

2,397

18,505

Axonics,

Inc.

(a)

2,791

204,720

Axsome

Therapeutics,

Inc.

(a)(b)

1,768

68,068

Beam

Therapeutics,

Inc.

(a)

2,685

238,347

Berkeley

Lights,

Inc.

(a)

2,473

57,497

Biohaven

Pharmaceutical

Holding

Co

Ltd.

(a)

3,526

501,820

Bluebird

Bio,

Inc.

(a)

4,337

101,529

Blueprint

Medicines

Corp.

(a)

3,563

400,802

Brooklyn

Immunotherapeutics,

Inc.

(a)

1,729

14,731

Butterfly

Network,

Inc.

(a)

8,070

83,282

Caredx,

Inc.

(a)

3,267

166,617

Certara,

Inc.

(a)

5,704

235,632

Change

Healthcare,

Inc.

(a)

14,913

321,077

ChemoCentryx,

Inc.

(a)(b)

2,808

97,746

CONMED

Corp.

1,768

258,623

Corcept

Therapeutics,

Inc.

(a)

6,141

110,538

Covetrus,

Inc.

(a)

6,264

126,470

Cryoport,

Inc.

(a)(b)

2,863

233,449

Deciphera

Pharmaceuticals,

Inc.

(a)

2,504

83,609

Denali

Therapeutics,

Inc.

(a)

5,649

273,129

Dicerna

Pharmaceuticals,

Inc.

(a)

4,205

87,506

Eargo,

Inc.

(a)(b)

1,353

11,906

Editas

Medicine,

Inc.,

Class

A

(a)

4,077

149,707

Emergent

BioSolutions,

Inc.

(a)

2,953

140,770

Ensign

Group,

Inc.

(The)

3,174

247,604

Envista

Holdings

Corp.

(a)

9,762

381,694

FibroGen,

Inc.

(a)

5,450

60,604

Fulgent

Genetics,

Inc.

(a)(b)

1,167

96,768

Glaukos

Corp.

(a)

2,909

132,970

Global

Blood

Therapeutics,

Inc.

(a)

3,396

124,022

Globus

Medical,

Inc.,

Class

A

(a)

4,723

364,474

Haemonetics

Corp.

(a)

3,087

212,108

Halozyme

Therapeutics,

Inc.

(a)

8,696

331,057

Health

Catalyst,

Inc.

(a)

3,073

161,763

HealthEquity,

Inc.

(a)

5,035

333,216

Hims

&

Hers

Health,

Inc.

(a)(b)

7,333

57,197

41

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Health

Care

–

14.9%

(continued)

ICU

Medical,

Inc.

(a)

1,209

283,063

Immunitybio,

Inc.

(a)(b)

3,932

30,788

Inari

Medical,

Inc.

(a)

1,960

177,419

Innovage

Holding

Corp.

(a)

784

5,190

Inovalon

Holdings,

Inc.,

Class

A

(a)

4,875

198,851

Insmed,

Inc.

(a)

7,125

214,819

Inspire

Medical

Systems,

Inc.

(a)

1,649

444,537

Instil

Bio,

Inc.

(a)(b)

1,060

21,592

Integer

Holdings

Corp.

(a)

1,997

179,770

Integra

LifeSciences

Holdings

Corp.

(a)

4,453

295,946

Intellia

Therapeutics,

Inc.

(a)

4,157

552,798

Intra-Cellular

Therapies,

Inc.

(a)

4,483

193,083

Invitae

Corp.

(a)(b)

12,200

323,300

Ionis

Pharmaceuticals,

Inc.

(a)

8,506

271,086

Iovance

Biotherapeutics,

Inc.

(a)

8,109

197,130

iRhythm

Technologies,

Inc.

(a)

1,730

121,342

Karuna

Therapeutics,

Inc.

(a)

1,349

189,373

Kodiak

Sciences,

Inc.

(a)(b)

2,056

240,737

Ligand

Pharmaceuticals,

Inc.

(a)

1,040

151,778

LivaNova

PLC

(a)

3,225

247,422

Madrigal

Pharmaceuticals,

Inc.

(a)

720

55,980

Magellan

Health,

Inc.

(a)

1,457

138,167

Maravai

Lifesciences

Holdings,

Inc.,

Class

A

(a)

6,612

279,621

MEDNAX,

Inc.

(a)

5,401

147,069

Medpace

Holdings,

Inc.

(a)

1,739

393,970

Merit

Medical

Systems,

Inc.

(a)

3,096

208,237

Multiplan

Corp.

(a)(b)

15,388

66,322

Myriad

Genetics,

Inc.

(a)

4,837

148,835

Nanostring

Technologies,

Inc.

(a)

2,840

137,172

Nektar

Therapeutics,

Class

A

(a)

11,432

173,309

Neogen

Corp.

(a)

6,453

273,026

NeoGenomics,

Inc.

(a)(b)

7,490

344,540

Nevro

Corp.

(a)

2,120

241,129

NuVasive,

Inc.

(a)

3,126

166,803

Nuvation

Bio,

Inc.

(a)

6,930

63,548

Ocugen,

Inc.

(a)(b)

12,434

147,219

Omnicell,

Inc.

(a)

2,631

468,713

OPKO

Health,

Inc.

(a)

24,466

92,726

Option

Care

Health,

Inc.

(a)

8,501

232,332

Organogenesis

Holdings,

Inc.,

Class

A

(a)

3,875

42,548

Ortho-Clinical

Diagnostics

Holdings

PLC,

Class

A

(a)

6,987

138,133

Outset

Medical,

Inc.

(a)(b)

2,435

129,712

Owens

&

Minor,

Inc.

4,712

169,067

Pacific

Biosciences

of

California,

Inc.

(a)

12,014

318,131

Pacira

BioSciences,

Inc.

(a)

2,753

143,927

Patterson

Cos.,

Inc.

5,085

158,957

Perrigo

Co.

PLC

8,079

364,767

Phreesia,

Inc.

(a)

3,105

219,027

Premier,

Inc.,

Class

A

7,472

291,034

Prestige

Consumer

Healthcare,

Inc.

(a)

3,030

181,770

Privia

Health

Group,

Inc.

(a)

1,258

32,331

Progyny,

Inc.

(a)

4,214

258,866

PTC

Therapeutics,

Inc.

(a)

4,132

156,727

Quanterix

Corp.

(a)

2,020

102,232

Quidel

Corp.

(a)

2,286

303,512

R1

RCM,

Inc.

(a)

8,057

174,837

Reata

Pharmaceuticals,

Inc.,

Class

A

(a)(b)

1,669

160,241

Recursion

Pharmaceuticals,

Inc.,

Class

A

(a)(b)

1,577

30,200

Relay

Therapeutics,

Inc.

(a)(b)

4,545

151,121

REVOLUTION

Medicines,

Inc.

(a)(b)

3,714

109,303

Rocket

Pharmaceuticals,

Inc.

(a)(b)

2,788

82,831

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Health

Care

–

14.9%

(continued)

Rubius

Therapeutics,

Inc.

(a)

2,750

39,078

Sage

Therapeutics,

Inc.

(a)

3,107

125,399

Sana

Biotechnology,

Inc.

(a)(b)

5,144

106,687

Sarepta

Therapeutics,

Inc.

(a)

5,221

413,138

Schrodinger,

Inc.

(a)

2,876

156,972

Seer,

Inc.,

Class

A

(a)(b)

2,114

78,049

Select

Medical

Holdings

Corp.

6,406

212,807

Seres

Therapeutics,

Inc.

(a)(b)

4,224

25,682

Shockwave

Medical,

Inc.

(a)

2,141

457,532

Signify

Health,

Inc.,

Class

A

(a)(b)

1,473

23,671

Silk

Road

Medical,

Inc.

(a)

2,026

118,946

Sorrento

Therapeutics,

Inc.

(a)(b)

17,898

122,780

Springworks

Therapeutics,

Inc.

(a)

1,559

104,547

STAAR

Surgical

Co.

(a)

2,864

339,269

Surgery

Partners,

Inc.

(a)

1,916

78,824

Tandem

Diabetes

Care,

Inc.

(a)

3,817

520,372

Tenet

Healthcare

Corp.

(a)

6,471

463,712

TG

Therapeutics,

Inc.

(a)(b)

8,122

253,569

Turning

Point

Therapeutics,

Inc.

(a)

3,031

126,029

Twist

Bioscience

Corp.

(a)

2,986

354,737

Veracyte,

Inc.

(a)

4,350

208,278

Vericel

Corp.

(a)(b)

2,913

134,056

Vir

Biotechnology,

Inc.

(a)

4,510

170,162

Xencor,

Inc.

(a)

3,660

144,790

Zentalis

Pharmaceuticals,

Inc.

(a)

2,199

176,888

26,851,037

Industrials

–

16.1%

AAON,

Inc.

2,566

183,854

ABM

Industries,

Inc.

4,086

179,825

Acuity

Brands,

Inc.

2,172

446,194

ADT,

Inc.

8,436

70,441

Aerojet

Rocketdyne

Holdings,

Inc.

4,530

199,365

AeroVironment,

Inc.

(a)

1,398

124,576

Air

Lease

Corp.,

Class

A

6,526

261,366

Albany

International

Corp.,

Class

A

1,921

154,929

Allegiant

Travel

Co.,

Class

A

(a)

917

160,723

Allison

Transmission

Holdings,

Inc.

6,348

211,769

Altra

Industrial

Motion

Corp.

3,974

207,244

APi

Group

Corp.

(a)

11,932

259,879

Applied

Industrial

Technologies,

Inc.

2,364

230,443

Arcosa,

Inc.

2,878

148,879

Armstrong

World

Industries,

Inc.

2,875

303,744

Array

Technologies,

Inc.

(a)

7,159

152,845

ASGN,

Inc.

(a)

3,192

381,955

Atkore,

Inc.

(a)

2,775

262,321

Avis

Budget

Group,

Inc.

(a)

2,858

495,320

Barnes

Group,

Inc.

2,915

122,255

Beacon

Roofing

Supply,

Inc.

(a)

3,404

179,969

Bloom

Energy

Corp.,

Class

A

(a)(b)

8,767

274,056

Boise

Cascade

Co.

2,469

139,795

Brady

Corp.,

Class

A

3,042

158,458

Brink's

Co.

(The)

3,029

208,637

BWX

Technologies,

Inc.

5,743

325,858

CACI

International,

Inc.,

Class

A

(a)

1,423

409,312

Casella

Waste

Systems,

Inc.,

Class

A

(a)

3,063

265,623

Chart

Industries,

Inc.

(a)(b)

2,149

381,490

Cimpress

PLC

(a)(b)

1,172

104,683

Clean

Harbors,

Inc.

(a)

3,018

339,646

Colfax

Corp.

(a)(b)

7,843

404,856

Comfort

Systems

USA,

Inc.

2,272

207,820

Crane

Co.

3,039

313,868

42

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Industrials

–

16.1%

(continued)

Curtiss-Wright

Corp.

2,492

318,179

Desktop

Metal,

Inc.,

Class

A

(a)(b)

9,146

63,930

Driven

Brands

Holdings,

Inc.

(a)

3,323

107,898

Dycom

Industries,

Inc.

(a)

1,929

153,201

EMCOR

Group,

Inc.

3,248

394,599

EnerSys

2,593

207,544

ESCO

Technologies,

Inc.

1,582

133,774

Evoqua

Water

Technologies

Corp.

(a)

7,330

306,614

Exponent,

Inc.

3,169

363,801

Federal

Signal

Corp.

3,808

163,020

Flowserve

Corp.

7,826

263,110

Fluor

Corp.

(a)

8,660

168,350

Forward

Air

Corp.

1,638

164,717

Franklin

Electric

Co.,

Inc.

2,418

208,867

Frontier

Group

Holdings,

Inc.

(a)

2,003

31,347

FTI

Consulting,

Inc.

(a)

2,057

296,043

FuelCell

Energy,

Inc.

(a)(b)

20,234

161,670

Gates

Industrial

Corp.

PLC

(a)

5,845

96,092

GATX

Corp.

2,162

205,066

Gibraltar

Industries,

Inc.

(a)

2,048

133,448

GrafTech

International

Ltd.

12,207

130,615

Healthcare

Services

Group,

Inc.

4,689

89,982

Helios

Technologies,

Inc.

1,918

174,634

Herc

Holdings,

Inc.

1,508

274,516

Hexcel

Corp.

(a)

5,035

285,686

Hillenbrand,

Inc.

4,418

200,842

Hub

Group,

Inc.,

Class

A

(a)

2,122

166,725

Hydrofarm

Holdings

Group,

Inc.

(a)(b)

2,125

70,061

Insperity,

Inc.

2,184

273,000

JELD-WEN

Holding,

Inc.

(a)

5,772

158,210

JetBlue

Airways

Corp.

(a)

19,388

272,014

John

Bean

Technologies

Corp.

1,913

282,646

KAR

Auction

Services,

Inc.

(a)

7,294

107,003

KBR,

Inc.

8,543

362,565

Kennametal,

Inc.

5,086

202,168

Kirby

Corp.

(a)

3,656

191,611

Korn

Ferry

3,381

261,047

Kratos

Defense

&

Security

Solutions,

Inc.

(a)

7,763

166,051

Landstar

System,

Inc.

2,334

410,341

ManpowerGroup,

Inc.

3,304

319,332

ManTech

International

Corp.,

Class

A

1,730

149,161

Masonite

International

Corp.

(a)

1,422

170,654

Matson,

Inc.

2,650

220,692

Maxar

Technologies,

Inc.

4,505

119,608

Mercury

Systems,

Inc.

(a)

3,521

181,472

Meritor,

Inc.

(a)

4,436

107,972

Millerknoll,

Inc.

4,611

179,460

Moog,

Inc.,

Class

A

1,729

130,591

MSA

Safety,

Inc.

2,210

338,196

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

2,858

240,272

Mueller

Industries,

Inc.

3,584

188,662

Mueller

Water

Products,

Inc.,

Class

A

9,902

162,492

Nikola

Corp.

(a)(b)

12,567

148,291

nVent

Electric

PLC

10,137

359,357

Parsons

Corp.

(a)

1,642

56,879

Proto

Labs,

Inc.

(a)

1,651

98,746

RBC

Bearings,

Inc.

(a)

1,718

401,892

Regal

Rexnord

Corp.

4,124

628,209

Resideo

Technologies,

Inc.

(a)

8,793

216,835

Rush

Enterprises,

Inc.,

Class

A

2,716

141,449

Ryder

System,

Inc.

3,271

277,871

Saia,

Inc.

(a)

1,589

496,785

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Industrials

–

16.1%

(continued)

Schneider

National,

Inc.,

Class

B

2,175

54,244

Science

Applications

International

Corp.

3,491

313,422

Shoals

Technologies

Group,

Inc.,

Class

A

(a)(b)

6,226

192,944

Simpson

Manufacturing

Co.,

Inc.

2,614

277,319

SkyWest,

Inc.

(a)

3,147

135,415

Spirit

AeroSystems

Holdings,

Inc.,

Class

A

6,413

264,793

Spirit

Airlines,

Inc.

(a)

6,555

143,227

SPX

Corp.

(a)

2,838

164,859

SPX

FLOW,

Inc.

2,492

186,177

Stericycle,

Inc.

(a)

5,568

372,611

Sun

Country

Airlines

Holdings,

Inc.

(a)

1,849

55,988

Terex

Corp.

4,246

190,221

Tetra

Tech,

Inc.

3,286

577,219

Timken

Co.

(The)

4,221

299,480

TriNet

Group,

Inc.

(a)

2,481

251,201

Trinity

Industries,

Inc.

5,060

141,933

Triton

International

Ltd.

4,172

259,457

UFP

Industries,

Inc.

3,771

308,581

UniFirst

Corp.

906

179,352

Univar

Solutions,

Inc.

(a)

10,395

265,904

Upwork,

Inc.

(a)

7,322

345,013

Valmont

Industries,

Inc.

1,284

306,825

Vicor

Corp.

(a)

1,298

196,764

Virgin

Galactic

Holdings,

Inc.

(a)(b)

10,726

201,112

Watts

Water

Technologies,

Inc.,

Class

A

1,659

315,243

Welbilt,

Inc.

(a)

7,867

186,133

Werner

Enterprises,

Inc.

3,846

174,301

WESCO

International,

Inc.

(a)

2,702

350,071

Willscot

Mobile

Mini

Holdings

Corp.,

Class

A

(a)

13,541

470,550

Zurn

Water

Solutions

Corp.

7,309

265,170

29,073,392

Information

Technology

–

15.4%

3D

Systems

Corp.

(a)

7,639

215,114

8x8,

Inc.

(a)

6,900

156,354

ACI

Worldwide,

Inc.

(a)

7,047

216,202

Advanced

Energy

Industries,

Inc.

2,334

214,308

Aeva

Technologies,

Inc.

(a)

5,723

44,411

Alarm.com

Holdings,

Inc.

(a)

2,845

239,720

Allegro

Microsystems,

Inc.

(a)

3,379

112,723

Alliance

Data

Systems

Corp.

3,034

258,649

Altair

Engineering,

Inc.,

Class

A

(a)

2,877

223,802

Alteryx,

Inc.,

Class

A

(a)

3,618

264,801

Ambarella,

Inc.

(a)

2,200

408,826

Amkor

Technology,

Inc.

6,075

133,164

Appfolio,

Inc.,

Class

A

(a)

1,145

150,785

Appian

Corp.,

Class

A

(a)(b)

2,408

239,379

Asana,

Inc.,

Class

A

(a)

4,728

642,062

Avaya

Holdings

Corp.

(a)

5,113

95,204

Avnet,

Inc.

6,052

230,642

Badger

Meter,

Inc.

1,775

181,494

BigCommerce

Holdings,

Inc.,

Series

1

(a)(b)

3,580

165,432

Blackbaud,

Inc.

(a)

2,616

185,762

Blackline,

Inc.

(a)(b)

3,242

411,313

Box,

Inc.,

Class

A

(a)

9,443

243,913

BTRS

Holdings,

Inc.

(a)

4,409

37,873

C3.ai,

Inc.,

Class

A

(a)(b)

4,262

192,301

Calix,

Inc.

(a)

3,281

205,358

CDK

Global,

Inc.

7,358

320,220

Cerence,

Inc.

(a)(b)

2,312

243,061

Cirrus

Logic,

Inc.

(a)

3,471

280,492

CMC

Materials,

Inc.

1,782

228,755

43

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Information

Technology

–

15.4%

(continued)

Coherent,

Inc.

(a)

1,496

380,582

CommScope

Holding

Co,

Inc.

(a)

12,344

132,204

CommVault

Systems,

Inc.

(a)

2,798

172,077

Corsair

Gaming,

Inc.

(a)(b)

2,057

50,294

Datto

Holding

Corp.

(a)(b)

1,695

40,511

Digital

Turbine,

Inc.

(a)

5,291

455,343

Digitalocean

Holdings,

Inc.

(a)(b)

1,074

104,812

Diodes,

Inc.

(a)

2,754

264,632

Dolby

Laboratories,

Inc.,

Class

A

3,972

350,926

Duck

Creek

Technologies,

Inc.

(a)(b)

4,641

146,192

Envestnet,

Inc.

(a)

3,316

276,886

Everbridge,

Inc.

(a)(b)

2,335

371,989

EVERTEC,

Inc.

3,633

164,248

ExlService

Holdings,

Inc.

(a)

2,004

245,751

Fabrinet

(a)

2,243

215,328

Fastly,

Inc.,

Class

A

(a)(b)

6,418

324,815

FormFactor,

Inc.

(a)

4,699

186,926

II-VI,

Inc.

(a)

6,371

385,509

Insight

Enterprises,

Inc.

(a)

2,092

198,112

InterDigital,

Inc.

1,874

125,464

Itron,

Inc.

(a)

2,751

213,945

Jamf

Holding

Corp.

(a)(b)

3,389

161,486

JFrog

Ltd.

(a)

2,623

85,746

Kulicke

&

Soffa

Industries,

Inc.

3,724

212,268

Lattice

Semiconductor

Corp.

(a)

8,277

574,755

Littelfuse,

Inc.

1,499

441,530

LivePerson,

Inc.

(a)(b)

3,946

203,258

LiveRamp

Holdings,

Inc.

(a)

4,143

221,692

Lumentum

Holdings,

Inc.

(a)

4,616

381,189

MACOM

Technology

Solutions

Holdings,

Inc.

(a)

2,932

204,712

Mandiant,

Inc.

(a)

14,584

254,345

Marathon

Digital

Holdings,

Inc.

(a)(b)

6,150

321,276

MAXIMUS,

Inc.

3,712

313,924

MaxLinear,

Inc.,

Class

A

(a)

4,303

271,089

McAfee

Corp.,

Class

A

4,567

97,597

Microstrategy,

Inc.,

Class

A

(a)(b)

469

335,363

Microvision,

Inc.

(a)(b)

9,911

75,423

Mimecast

Ltd.

(a)

3,722

280,788

Momentive

Global,

Inc.

(a)

7,915

181,412

National

Instruments

Corp.

8,088

343,497

Ncino,

Inc.

(a)(b)

3,431

249,296

NCR

Corp.

(a)

7,908

312,682

New

Relic,

Inc.

(a)

3,572

289,904

Novanta,

Inc.

(a)

2,138

368,933

Nutanix,

Inc.,

Class

A

(a)

12,379

424,724

Onto

Innovation,

Inc.

(a)

2,997

237,392

PagerDuty,

Inc.

(a)

4,536

189,378

Ping

Identity

Holding

Corp.

(a)

3,044

86,237

Plexus

Corp.

(a)

1,703

148,706

Power

Integrations,

Inc.

3,670

378,781

Pure

Storage,

Inc.,

Class

A

(a)

16,222

435,723

Q2

Holdings,

Inc.

(a)(b)

3,440

269,902

Qualtrics

International,

Inc.,

Class

A

(a)

3,872

179,351

Qualys,

Inc.

(a)

2,010

250,205

Rackspace

Technology,

Inc.

(a)(b)

3,867

51,392

Rapid7,

Inc.

(a)(b)

3,400

437,750

Riot

Blockchain,

Inc.

(a)(b)

4,869

132,534

Rogers

Corp.

(a)

1,139

229,076

Sabre

Corp.

(a)(b)

19,625

203,708

Sailpoint

Technologies

Holdings,

Inc.

(a)(b)

5,653

271,231

Sanmina

Corp.

(a)

4,066

153,492

Semtech

Corp.

(a)

3,908

332,297

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Information

Technology

–

15.4%

(continued)

Shift4

Payments,

Inc.,

Class

A

(a)(b)

2,881

181,878

Silicon

Laboratories,

Inc.

(a)

2,478

467,747

Solarwinds

Corp.

3,014

48,525

Sprout

Social,

Inc.,

Class

A

(a)

2,728

348,311

SPS

Commerce,

Inc.

(a)

2,163

330,355

Sunpower

Corp.,

Class

A

(a)(b)

5,113

172,104

Switch,

Inc.,

Class

A

7,740

195,667

Synaptics,

Inc.

(a)

2,133

415,018

SYNNEX

Corp.

2,498

262,290

Telos

Corp.

(a)

3,207

83,093

Tenable

Holdings,

Inc.

(a)

5,501

292,928

Teradata

Corp.

(a)

6,633

375,162

TTEC

Holdings,

Inc.

1,156

109,115

Ultra

Clean

Holdings,

Inc.

(a)

2,749

136,268

Varonis

Systems,

Inc.,

Class

B

(a)

6,487

419,968

Velodyne

Lidar,

Inc.

(a)(b)

5,984

36,502

Verint

Systems,

Inc.

(a)

3,954

184,256

Verra

Mobility

Corp.,

Class

A

(a)

8,070

120,082

ViaSat,

Inc.

(a)

4,516

269,560

Viavi

Solutions,

Inc.

(a)

13,907

214,168

Vishay

Intertechnology,

Inc.

8,026

154,260

Vonage

Holdings

Corp.

(a)

15,416

248,506

Vontier

Corp.

10,239

346,385

Workiva,

Inc.,

Class

A

(a)

2,616

391,223

Xerox

Holdings

Corp.

8,528

151,798

27,897,879

Materials

–

5.4%

Alcoa

Corp.

11,366

522,268

Allegheny

Technologies,

Inc.

(a)

7,994

128,703

Amyris,

Inc.

(a)(b)

11,703

173,439

Arconic

Corp.

(a)

6,708

197,349

Ashland

Global

Holdings,

Inc.

3,429

329,218

Avient

Corp.

5,559

299,519

Balchem

Corp.

1,946

297,913

Cabot

Corp.

3,455

184,324

Chemours

Co.

(The)

9,915

277,818

Commercial

Metals

Co.

7,335

236,040

Compass

Minerals

International,

Inc.

2,029

133,102

Danimer

Scientific,

Inc.

(a)(b)

4,620

68,191

Diversey

Holdings

Ltd.

(a)

2,825

49,155

Domtar

Corp.

(a)

3,153

172,122

Eagle

Materials,

Inc.

2,531

375,499

Element

Solutions,

Inc.

13,092

297,319

Graphic

Packaging

Holding

Co.

17,042

339,647

Greif,

Inc.,

Class

A

1,617

104,588

HB

Fuller

Co.

3,197

225,421

Hecla

Mining

Co.

32,661

188,781

Huntsman

Corp.

12,853

418,751

Ingevity

Corp.

(a)

2,373

184,880

Innospec,

Inc.

1,545

139,993

Livent

Corp.

(a)(b)

9,996

282,087

Louisiana-Pacific

Corp.

5,792

341,323

Minerals

Technologies,

Inc.

1,975

140,107

MP

Materials

Corp.

(a)(b)

4,540

153,679

NewMarket

Corp.

439

149,264

O-I

Glass,

Inc.,

Class

I

(a)

9,886

129,012

Olin

Corp.

8,734

497,663

Pactiv

Evergreen,

Inc.

2,991

41,605

Purecycle

Technologies,

Inc.

(a)(b)

4,639

62,116

Quaker

Chemical

Corp.

(b)

824

202,572

Sensient

Technologies

Corp.

2,520

240,912

44

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Materials

–

5.4%

(continued)

Silgan

Holdings,

Inc.

5,207

209,321

Sonoco

Products

Co.

5,960

345,382

Stepan

Co.

1,337

160,467

Summit

Materials,

Inc.,

Class

A

(a)

7,178

255,896

Trinseo

PLC

2,430

136,226

Tronox

Holdings

PLC

6,914

161,235

U.S.

Steel

Corp.

(b)

16,284

429,735

Valvoline,

Inc.

10,951

371,896

Worthington

Industries,

Inc.

2,071

112,497

Zymergen,

Inc.

(a)(b)

1,147

12,158

9,779,193

Real

Estate

–

8.1%

Agree

Realty

Corp.

(c)

4,179

296,960

American

Campus

Communities,

Inc.

(c)

8,406

451,570

Apple

Hospitality

REIT,

Inc.

(c)

13,045

204,937

Brandywine

Realty

Trust

(c)

10,677

141,470

Brixmor

Property

Group,

Inc.

(c)

18,074

423,654

CareTrust

REIT,

Inc.

(c)

5,761

119,541

CoreSite

Realty

Corp.

(c)

2,693

383,645

Corporate

Office

Properties

Trust

(c)

6,838

185,446

Cousins

Properties,

Inc.

(c)

8,988

356,015

Cushman

&

Wakefield

PLC

(a)

9,236

169,850

DiamondRock

Hospitality

Co.

(a)(c)

13,200

119,328

Digitalbridge

Group,

Inc.

(a)(c)

30,524

204,511

Douglas

Emmett,

Inc.

(c)

11,101

362,781

EastGroup

Properties,

Inc.

(c)

2,514

497,219

EPR

Properties

(c)

4,533

227,602

Equity

Commonwealth

(a)(c)

7,490

194,216

Essential

Properties

Realty

Trust,

Inc.

(c)

7,162

213,356

eXp

World

Holdings,

Inc.

(b)

4,057

209,341

First

Industrial

Realty

Trust,

Inc.

(c)

7,880

458,852

Four

Corners

Property

Trust,

Inc.

(c)

4,572

132,588

Healthcare

Realty

Trust,

Inc.

(c)

8,882

293,639

Healthcare

Trust

of

America,

Inc.,

Class

A

(c)

13,313

444,521

Highwoods

Properties,

Inc.

(c)

6,234

279,532

Howard

Hughes

Corp.

(The)

(a)

2,496

217,476

Hudson

Pacific

Properties,

Inc.

(c)

9,241

237,956

Innovative

Industrial

Properties,

Inc.,

Class

A

(c)

1,451

381,744

JBG

SMITH

Properties

(c)

7,121

205,512

Kennedy-Wilson

Holdings,

Inc.

7,502

167,820

Lexington

Realty

Trust,

Class

B

(c)

16,846

245,446

Life

Storage,

Inc.

(c)

4,757

636,534

National

Health

Investors,

Inc.

(c)

2,758

148,325

National

Storage

Affiliates

Trust

(c)

5,130

320,420

Outfront

Media,

Inc.

(c)

8,822

219,580

Paramount

Group,

Inc.

(c)

10,393

88,133

Park

Hotels

&

Resorts,

Inc.

(a)(c)

14,165

262,477

Pebblebrook

Hotel

Trust

(c)

7,952

178,602

Physicians

Realty

Trust

(c)

13,176

250,476

Piedmont

Office

Realty

Trust,

Inc.,

Class

A

(c)

7,754

137,711

PotlatchDeltic

Corp.

(c)

4,065

212,477

PS

Business

Parks,

Inc.

(c)

1,217

216,261

Rayonier,

Inc.

(c)

8,572

319,993

Redfin

Corp.

(a)(b)

6,371

327,087

Rexford

Industrial

Realty,

Inc.

(c)

8,318

558,970

RLJ

Lodging

Trust

(c)

10,332

148,987

Ryman

Hospitality

Properties,

Inc.

(a)(c)

3,289

281,341

Sabra

Health

Care

REIT,

Inc.

(c)

13,504

191,082

Safehold,

Inc.

(c)

799

59,685

SITE

Centers

Corp.

(c)

11,034

175,330

SL

Green

Realty

Corp.

(b)(c)

4,168

292,052

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.8%

(continued)

Real

Estate

–

8.1%

(continued)

Spirit

Realty

Capital,

Inc.

(c)

7,215

353,030

St

Joe

Co.

(The)

1,958

92,065

STAG

Industrial,

Inc.

(c)

9,845

428,553

Sunstone

Hotel

Investors,

Inc.

(a)(c)

13,571

167,466

Terreno

Realty

Corp.

(c)

4,277

312,777

Uniti

Group,

Inc.

(c)

14,049

201,041

Urban

Edge

Properties

(c)

6,888

120,747

Xenia

Hotels

&

Resorts,

Inc.

(a)(c)

7,142

127,128

14,654,858

Utilities

–

2.8%

ALLETE,

Inc.

3,270

201,236

American

States

Water

Co.

2,246

204,027

Avista

Corp.

4,241

168,834

Black

Hills

Corp.

3,860

256,227

California

Water

Service

Group

3,193

194,390

Clearway

Energy,

Inc.,

Class

A

2,289

75,514

Clearway

Energy,

Inc.,

Class

C

5,014

177,897

Hawaiian

Electric

Industries,

Inc.

6,560

266,074

IDACORP,

Inc.

3,059

319,115

Macquarie

Infrastructure

Holdings

LLC

4,498

16,598

MDU

Resources

Group,

Inc.

12,210

375,213

MGE

Energy,

Inc.

2,214

168,020

National

Fuel

Gas

Co.

5,485

315,003

New

Jersey

Resources

Corp.

5,790

218,920

NorthWestern

Corp.

3,174

180,474

ONE

Gas,

Inc.

3,254

218,994

Ormat

Technologies,

Inc.

(b)

2,725

197,099

PNM

Resources,

Inc.

5,145

255,964

Portland

General

Electric

Co.

5,377

265,140

SJW

Group

1,704

112,328

South

Jersey

Industries,

Inc.

(b)

7,041

160,253

Southwest

Gas

Holdings,

Inc.

3,618

250,546

Spire,

Inc.

3,144

197,317

Sunnova

Energy

International,

Inc.

(a)

5,713

254,571

5,049,754

Total

Common

Stocks

(cost

$162,899,719)

180,405,005

Investment

Companies

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$353,878)

353,878

353,878

Investment

of

Cash

Collateral

for

Securities

Loaned

–

2.6%

Registered

Investment

Companies

–

2.6%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$4,718,610)

4,718,610

4,718,610

Total

Investments

(cost

$167,972,207)

102.6%

185,477,493

Liabilities,

Less

Cash

and

Receivables

(2.6)%

(4,667,744)

Net

Assets

100.0%

180,809,749

REIT—Real

Estate

Investment

Trust

45

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$13,042,448

and

the

value

of

the

collateral

was

$13,299,852,

consisting

of

cash

collateral

of

$4,718,610

and

U.S.

Government

&

Agency

securities

valued

at

$8,581,242.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021

are

as

follows:

(e)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

53,434

6,095,006

(5,794,562)

—

—

353,878

0.2

20

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

696,717

21,508,494

(17,486,601)

—

—

4,718,610

2.6

37,784

2

Total

750,151

27,603,500

(23,281,163)

—

—

5,072,488

2.8

37,804

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

(%)

Industrials

16.1

Financials

15.8

Information

Technology

15.4

Health

Care

14.9

Consumer

Discretionary

12.2

Real

Estate

8.1

Materials

5.4

Communication

Services

3.3

Energy

3.0

Consumer

Staples

2.8

Registered

Investment

Companies

2.8

Utilities

2.8

102.6

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

Russell

2000

E-mini

1

12/17/2021

113,250

114,765

1,515

46

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

International

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

98.9%

Australia

–

6.5%

Afterpay

Ltd.

(a)

1,418

131,311

APA

Group

5,563

34,263

Aristocrat

Leisure

Ltd.

3,605

126,396

ASX

Ltd.

1,014

63,229

Australia

&

New

Zealand

Banking

Group

Ltd.

14,459

305,605

BHP

Group

Ltd.

15,327

421,113

BHP

Group

PLC

11,851

314,336

BlueScope

Steel

Ltd.

2,060

31,905

Brambles

Ltd.

7,979

60,170

Cochlear

Ltd.

374

61,924

Coles

Group

Ltd.

6,705

86,319

Commonwealth

Bank

of

Australia

9,350

735,145

CSL

Ltd.

2,458

554,766

Dexus

(b)

5,823

47,542

Fortescue

Metals

Group

Ltd.

6,863

71,806

Glencore

PLC

61,196

306,388

Goodman

Group

(b)

8,995

147,960

Insurance

Australia

Group

Ltd.

34,491

124,350

Macquarie

Group

Ltd.

1,400

208,026

Mirvac

Group

(b)

21,242

44,993

National

Australia

Bank

Ltd.

17,833

384,552

Newcrest

Mining

Ltd.

4,894

91,493

Northern

Star

Resources

Ltd.

7,609

52,808

QBE

Insurance

Group

Ltd.

8,116

72,115

Ramsay

Health

Care

Ltd.

1,350

71,405

REA

Group

Ltd.

318

38,249

Rio

Tinto

Ltd.

1,390

94,265

Rio

Tinto

PLC

3,989

249,364

Santos

Ltd.

10,341

54,215

Scentre

Group

(b)

30,058

68,181

Seek

Ltd.

43

1,056

Sonic

Healthcare

Ltd.

2,589

77,842

South32

Ltd.

27,583

73,962

Stockland

(b)

12,299

42,032

Suncorp

Group

Ltd.

6,764

59,543

Sydney

Airport

(a)

6,705

41,246

Tabcorp

Holdings

Ltd.

9,428

35,124

Telstra

Corp.

Ltd.

23,489

67,395

Transurban

Group

15,161

153,047

Wesfarmers

Ltd.

6,463

277,912

Westpac

Banking

Corp.

19,615

378,192

Wisetech

Global

Ltd.

966

37,062

Woodside

Petroleum

Ltd.

3,916

68,415

Woolworths

Group

Ltd.

7,071

202,244

6,569,266

Austria

–

0.3%

Erste

Group

Bank

AG

1,628

69,896

Mondi

PLC

2,342

58,588

OMV

AG

856

51,908

Raiffeisen

Bank

International

AG

733

21,461

Verbund

AG

375

39,101

Voestalpine

AG

459

17,444

258,398

Belgium

–

0.9%

Ageas

SA/NV

682

33,227

Anheuser-Busch

InBev

SA/NV

5,960

363,965

Groupe

Bruxelles

Lambert

SA

567

65,780

KBC

Group

NV

1,999

186,363

Sofina

SA

105

46,466

Solvay

SA,

Class

A

267

31,764

UCB

SA

871

103,921

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Belgium

–

0.9%

(continued)

Umicore

SA

1,140

65,409

896,895

Brazil

–

0.2%

Wheaton

Precious

Metals

Corp.

2,561

103,221

Yara

International

ASA

959

49,972

153,193

Canada

–

9.1%

Agnico

Eagle

Mines

Ltd.

1,289

68,311

Alimentation

Couche-Tard,

Inc.,

Class

A

364

13,831

Alimentation

Couche-Tard,

Inc.,

Class

B

4,472

167,472

Bank

of

Montreal

3,579

387,972

Bank

of

Nova

Scotia

(The)

6,796

444,861

Barrick

Gold

Corp.

6,580

120,553

BCE,

Inc.

1,608

82,647

Brookfield

Asset

Management,

Inc.,

Class

A

7,810

470,786

Canadian

Imperial

Bank

of

Commerce

2,503

303,235

Canadian

National

Railway

Co.

3,488

462,834

Canadian

Natural

Resources

Ltd.

6,916

293,479

Canadian

Pacific

Railway

Ltd.

3,264

252,236

Cenovus

Energy,

Inc.

5,810

69,370

CGI,

Inc.,

Class

A

(a)

1,358

121,125

Constellation

Software,

Inc.

108

189,503

Dollarama,

Inc.

2,095

94,546

Enbridge,

Inc.

11,111

464,680

Fortis,

Inc.,

Class

Common

Subscription

Receipt

2,608

115,909

Franco-Nevada

Corp.

1,069

152,293

George

Weston

Ltd.

391

42,180

Great-West

Lifeco,

Inc.,

Class

Common

Subscription

Receipt

1,458

42,827

Hydro

One

Ltd.

(c)

2,400

57,253

Imperial

Oil

Ltd.

762

25,758

Intact

Financial

Corp.,

Class

Common

Subscription

Receipt

773

103,464

Loblaw

Cos.

Ltd.

942

70,736

Magna

International,

Inc.

1,544

125,396

Manulife

Financial

Corp.,

Class

Common

Subscription

Receipt

10,923

212,459

National

Bank

of

Canada

1,824

150,770

Nutrien

Ltd.

3,227

225,191

Pembina

Pipeline

Corp.

3,009

99,454

Power

Corp.

of

Canada

2,900

96,437

Restaurant

Brands

International,

Inc.

1,689

95,477

Rogers

Communications,

Inc.,

Class

B

2,005

93,105

Royal

Bank

of

Canada

7,778

808,327

Shaw

Communications,

Inc.,

Class

B

2,372

68,201

Shopify,

Inc.,

Class

A

(a)

624

909,669

Sun

Life

Financial,

Inc.

3,156

179,575

Suncor

Energy,

Inc.

9,161

240,564

TC

Energy

Corp.

5,223

282,102

TELUS

Corp.

2,260

51,762

Thomson

Reuters

Corp.

939

112,774

Toronto-Dominion

Bank

(The)

9,933

719,923

9,089,047

Chile

–

0.0%

Antofagasta

PLC

1,862

36,384

China

–

0.5%

China

Evergrande

New

Energy

Vehicle

Group

Ltd.

(a)

23,500

11,298

Chow

Tai

Fook

Jewellery

Group

Ltd.

10,600

21,693

Prosus

NV

4,577

403,664

47

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

China

–

0.5%

(continued)

Wilmar

International

Ltd.

18,500

59,266

495,921

Denmark

–

2.3%

AP

Moller

-

Maersk

A/S,

Class

A

24

65,784

AP

Moller

-

Maersk

A/S,

Class

B

32

92,565

Carlsberg

A/S,

Class

B

600

99,077

Coloplast

A/S,

Class

B

600

97,910

Danske

Bank

A/S

3,874

65,628

DSV

A/S

1,154

268,468

Genmab

A/S

(a)

375

168,239

Novo

Nordisk

A/S,

Class

B

9,150

1,002,488

Novozymes

A/S,

Class

B

962

70,814

Orsted

A/S

(c)

987

139,413

Vestas

Wind

Systems

A/S

5,358

231,962

2,302,348

Finland

–

1.2%

Elisa

OYJ

854

51,569

Fortum

OYJ

2,345

69,744

Kesko

OYJ,

Class

A

544

16,620

Kesko

OYJ,

Class

B

1,323

43,007

Kone

OYJ,

Class

B

2,110

143,968

Metso

Outotec

OYJ

3,073

30,868

Neste

OYJ

2,425

135,237

Nokia

OYJ

(a)

32,366

186,154

Nordea

Bank

Abp

18,075

221,105

Sampo

OYJ,

Class

A

2,777

147,829

Stora

ENSO

OYJ,

Class

A

406

7,588

Stora

ENSO

OYJ,

Class

R

3,298

54,883

UPM-Kymmene

OYJ

2,988

105,534

1,214,106

France

–

9.1%

Adevinta

ASA,

Class

B

(a)

548

9,008

Air

Liquide

SA

2,584

431,326

Airbus

SE

(a)

3,369

431,204

Alstom

SA

1,778

63,333

Amundi

SA

(c)

326

29,068

AXA

SA

11,474

334,082

bioMerieux

204

25,980

BNP

Paribas

SA

6,398

428,696

Bollore

SA

3,232

18,739

Bouygues

SA

1,419

57,475

Bureau

Veritas

SA

1,123

35,687

Capgemini

SE

886

206,398

Carrefour

SA

3,316

60,075

CIE

de

Saint-Gobain

3,069

211,533

CIE

Generale

des

Etablissements

Michelin

SCA

1,017

159,708

Credit

Agricole

SA

7,156

107,988

Danone

SA

3,678

239,846

Dassault

Systemes

Se

3,849

224,405

Edenred

1,329

71,932

Electricite

de

France

SA

2,509

36,962

Engie

SA

10,269

146,123

EssilorLuxottica

SA

1,645

340,567

Hermes

International

202

320,374

Kering

SA

407

305,303

Legrand

SA

1,493

162,825

L'Oreal

SA

1,329

607,427

LVMH

Moet

Hennessy

Louis

Vuitton

SE

1,435

1,124,594

Orange

SA

9,935

108,477

Pernod

Ricard

SA

1,128

259,378

Publicis

Groupe

SA

1,021

68,459

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

France

–

9.1%

(continued)

Safran

SA

1,892

254,071

Sanofi

6,300

630,133

Sartorius

Stedim

Biotech

136

74,947

Societe

Generale

SA

4,406

147,025

Sodexo

SA

(a)

437

42,480

Suez

SA

2,029

46,222

Teleperformance

337

140,826

Thales

SA

677

62,410

Totalenergies

SE

13,022

653,573

Veolia

Environnement

SA

3,338

109,050

Vinci

SA

2,792

298,451

Worldline

SA

(a)(c)

1,193

69,555

9,155,715

Germany

–

7.0%

Adidas

AG

1,020

334,406

Allianz

SE

1,891

440,188

BASF

SE

4,729

340,836

Bayer

AG

5,320

299,640

Bayerische

Motoren

Werke

AG

1,809

182,634

Beiersdorf

AG

565

60,088

Brenntag

SE

842

80,135

Carl

Zeiss

Meditec

AG

164

33,014

Continental

AG

(a)

620

72,840

Daimler

AG

4,300

426,657

Deutsche

Bank

AG

(a)

11,026

142,221

Deutsche

Boerse

AG

986

163,854

Deutsche

Post

AG

5,442

337,056

Deutsche

Telekom

AG

18,057

335,973

Deutsche

Wohnen

SE

322

16,504

E.ON

SE

12,267

155,673

Evonik

Industries

AG

908

29,443

Fresenius

Medical

Care

AG

&

Co.

KGaA

1,053

70,020

Fresenius

SE

&

Co.

KGaA

1,842

83,699

Hannover

Rueck

SE

349

63,813

HeidelbergCement

AG

702

52,919

Hellofresh

SE

(a)

928

75,175

Henkel

AG

&

Co.

KGaA

536

44,723

Infineon

Technologies

AG

7,257

339,244

Merck

KGaA

732

172,979

MTU

Aero

Engines

AG

274

60,992

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

815

241,637

Puma

SE

579

71,896

RWE

AG

3,405

131,098

SAP

SE

6,022

873,349

Siemens

AG

4,757

772,246

Siemens

Energy

AG

(a)

2,168

62,271

Siemens

Healthineers

AG

(c)

1,497

99,544

Symrise

AG,

Class

A

728

100,718

Uniper

SE

433

19,147

Vonovia

SE

3,104

188,442

Zalando

SE

(a)(c)

684

64,575

7,039,649

Hong

Kong

–

2.3%

AIA

Group

Ltd.

64,800

731,796

CK

Asset

Holdings

Ltd.

12,500

77,211

CK

Infrastructure

Holdings

Ltd.

1,500

9,043

CLP

Holdings

Ltd.

9,000

88,102

Hang

Seng

Bank

Ltd.

(d)

3,100

58,979

Henderson

Land

Development

Co.

Ltd.

(d)

4,000

16,763

Hong

Kong

&

China

Gas

Co.

Ltd.

53,507

83,228

48

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Hong

Kong

–

2.3%

(continued)

Hong

Kong

Exchanges

&

Clearing

Ltd.

7,200

435,755

Jardine

Matheson

Holdings

Ltd.

1,500

86,895

Link

REIT

(b)

11,213

99,459

MTR

Corp.

Ltd.

(d)

11,000

59,956

New

World

Development

Co.

Ltd.

5,250

22,777

Power

Assets

Holdings

Ltd.

11,500

70,147

Sun

Hung

KAI

Properties

Ltd.

8,500

113,092

Swire

Properties

Ltd.

9,800

26,267

Techtronic

Industries

Co.

Ltd.

11,500

236,681

Wharf

Real

Estate

Investment

Co.

Ltd.

(d)

17,000

95,937

2,312,088

Ireland

–

0.5%

CRH

PLC

3,199

153,561

Flutter

Entertainment

PLC

(a)

851

161,116

Kerry

Group

PLC,

Class

A

818

109,904

Kingspan

Group

PLC

801

92,362

516,943

Israel

–

0.3%

Azrieli

Group

Ltd.

192

17,966

Bank

Hapoalim

BM

68

670

Bank

Leumi

Le-Israel

BM

8,311

79,428

Elbit

Systems

Ltd.

133

20,981

ICL

Group

Ltd.

2,725

23,350

Mizrahi

Tefahot

Bank

Ltd.

716

26,060

Nice

Ltd.

(a)

353

99,542

Teva

Pharmaceutical

Industries

Ltd.

(a)

6,012

53,134

321,131

Italy

–

1.8%

Assicurazioni

Generali

SpA

6,807

148,489

Atlantia

SpA

(a)

2,822

54,555

Davide

Campari-Milano

NV

2,986

42,434

ENEL

SpA

42,881

359,079

ENI

SpA

14,432

207,165

Ferrari

NV

663

157,288

Finecobank

Banca

Fineco

SpA

(a)

3,227

61,674

Infrastrutture

Wireless

Italiane

SpA

(c)

713

7,885

Intesa

Sanpaolo

SpA

97,691

277,827

Moncler

SpA

1,018

73,182

Nexi

SpA

(a)(c)

1,920

33,384

Poste

Italiane

SpA

(c)

2,457

35,087

Recordati

Industria

Chimica

e

Farmaceutica

SpA

645

40,397

Snam

SpA

12,241

69,370

Telecom

Italia

SpA

101,096

36,046

Terna

Rete

Elettrica

Nazionale

SpA

7,941

59,200

UniCredit

SpA

11,847

156,622

1,819,684

Japan

–

22.2%

Advantest

Corp.

1,700

139,101

AEON

Co.

Ltd.

5,300

121,687

AGC,

Inc.

1,400

69,616

Aisin

Corp.

400

14,611

Ajinomoto

Co.,

Inc.

3,000

89,612

ANA

Holdings,

Inc.

(a)

500

11,633

Asahi

Group

Holdings

Ltd.

2,700

122,113

Asahi

Kasei

Corp.

7,900

82,897

Astellas

Pharma,

Inc.

10,600

178,208

Bandai

Namco

Holdings,

Inc.

1,900

144,752

Bridgestone

Corp.

3,000

132,050

Canon,

Inc.

5,700

127,872

Capcom

Co.

Ltd.

400

10,734

Central

Japan

Railway

Co.

1,700

251,962

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.2%

(continued)

Chubu

Electric

Power

Co.,

Inc.

5,000

51,699

Chugai

Pharmaceutical

Co.

Ltd.

1,400

52,145

Cyberagent,

Inc.

2,500

41,657

Daifuku

Co.

Ltd.

300

27,494

Dai-ichi

Life

Holdings,

Inc.

5,700

120,049

Daiichi

Sankyo

Co.

Ltd.

10,100

253,950

Daikin

Industries

Ltd.

2,000

436,571

Daito

Trust

Construction

Co.

Ltd.

200

24,766

Daiwa

House

Industry

Co.

Ltd.

4,600

151,323

Daiwa

Securities

Group,

Inc.

8,300

46,492

Denso

Corp.

2,800

201,924

Dentsu

Group,

Inc.

2,100

76,799

Disco

Corp.

100

26,836

East

Japan

Railway

Co.

2,100

130,540

Eisai

Co.

Ltd.

1,900

133,754

ENEOS

Holdings,

Inc.

18,700

75,374

FANUC

Corp.

1,600

313,054

Fast

Retailing

Co.

Ltd.

200

132,445

Fujifilm

Holdings

Corp.

2,500

192,962

Fujitsu

Ltd.

1,400

240,956

GMO

Payment

Gateway,

Inc.

200

25,328

Hamamatsu

Photonics

KK

400

23,644

Hankyu

Hanshin

Holdings,

Inc.

600

18,549

Hikari

Tsushin,

Inc.

100

15,391

Hitachi

Ltd.

5,400

310,385

Hitachi

Metals

Ltd.

(a)

500

9,458

Honda

Motor

Co.

Ltd.

9,500

279,022

Hoya

Corp.

2,300

337,360

Hulic

Co.

Ltd.

9,500

91,063

INPEX

Corp.

5,700

47,590

Isuzu

Motors

Ltd.

3,100

41,569

ITOCHU

Corp.

8,000

227,459

ITOCHU

Techno-Solutions

Corp.

1,600

50,375

Japan

Airlines

Co.

Ltd.

(a)

400

8,598

Japan

Exchange

Group,

Inc.

4,100

96,850

Japan

Post

Holdings

Co.

Ltd.

8,300

63,692

Japan

Post

Insurance

Co.

Ltd.

200

3,245

Japan

Real

Estate

Investment

Corp.

(b)

4

24,486

Japan

Tobacco,

Inc.

5,900

115,672

JFE

Holdings,

Inc.

2,700

41,272

Kansai

Electric

Power

Co.,

Inc.

(The)

3,000

27,573

KAO

Corp.

2,300

129,720

KDDI

Corp.

8,500

262,995

KEIO

Corp.

300

15,102

Keyence

Corp.

1,500

901,250

Kikkoman

Corp.

1,700

138,952

Kirin

Holdings

Co.

Ltd.

5,300

92,079

Kobayashi

Pharmaceutical

Co.

Ltd.

200

15,979

Kobe

Bussan

Co.

Ltd.

400

13,734

Koito

Manufacturing

Co.

Ltd.

1,500

84,718

Komatsu

Ltd.

5,400

140,488

Konami

Holdings

Corp.

2,400

131,761

Kubota

Corp.

7,500

159,340

Kyocera

Corp.

2,300

134,238

Kyowa

Kirin

Co.

Ltd.

2,100

68,880

Lasertec

Corp.

300

65,854

Lixil

Corp.

2,100

53,851

M3,

Inc.

2,500

147,073

Makita

Corp.

2,100

96,929

Marubeni

Corp.

10,300

86,826

MEIJI

Holdings

Co.

Ltd.

300

18,917

Mercari,

Inc.

(a)

400

21,574

49

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.2%

(continued)

Minebea

Mitsumi,

Inc.

2,600

65,556

Misumi

Group,

Inc.

2,200

91,839

Mitsubishi

Chemical

Holdings

Corp.

8,000

66,140

Mitsubishi

Corp.

8,000

253,418

Mitsubishi

Electric

Corp.

13,000

173,865

Mitsubishi

Estate

Co.

Ltd.

8,000

121,237

Mitsubishi

HC

Capital,

Inc.

2,200

10,998

Mitsubishi

Heavy

Industries

Ltd.

2,400

61,229

Mitsubishi

UFJ

Financial

Group,

Inc.

71,500

390,342

Mitsui

&

Co.

Ltd.

8,600

195,494

Mitsui

Fudosan

Co.

Ltd.

5,500

125,339

Mizuho

Financial

Group,

Inc.

13,860

182,936

Monotaro

Co.

Ltd.

2,300

52,041

MS&AD

Insurance

Group

Holdings,

Inc.

2,700

87,281

Murata

Manufacturing

Co.

Ltd.

3,100

235,249

NEC

Corp.

2,100

107,187

Nexon

Co.

Ltd.

2,600

44,031

Nidec

Corp.

2,900

319,693

Nihon

M&A

Center

Holdings,

Inc.

1,500

45,845

Nintendo

Co.

Ltd.

300

132,076

Nippon

Building

Fund,

Inc.

(b)

14

90,857

Nippon

Paint

Holdings

Co.

Ltd.

7,800

83,387

Nippon

ProLogis

REIT,

Inc.

(b)

21

70,077

Nippon

Sanso

Holdings

Corp.

2,100

49,450

Nippon

Steel

Corp.

5,400

94,669

Nippon

Telegraph

&

Telephone

Corp.

7,600

212,487

Nissan

Chemical

Corp.

400

22,206

Nissan

Motor

Co.

Ltd.

(a)

13,400

67,855

Nissin

Foods

Holdings

Co.

Ltd.

100

7,639

Nitori

Holdings

Co.

Ltd.

300

54,870

Nitto

Denko

Corp.

1,600

124,604

Nomura

Holdings,

Inc.

16,300

78,623

Nomura

Research

Institute

Ltd.

2,400

95,558

NTT

Data

Corp.

3,000

60,066

OBIC

Co.

Ltd.

200

36,816

Odakyu

Electric

Railway

Co.

Ltd.

1,800

38,881

Olympus

Corp.

7,600

163,997

Omron

Corp.

1,800

171,594

ONO

Pharmaceutical

Co.

Ltd.

2,700

56,486

Oriental

Land

Co.

Ltd.

1,800

283,201

ORIX

Corp.

7,700

152,278

Otsuka

Corp.

300

14,734

Otsuka

Holdings

Co.

Ltd.

2,900

114,296

Pan

Pacific

International

Holdings

Corp.

4,100

85,793

Panasonic

Corp.

13,400

163,644

Rakuten

Group,

Inc.

5,300

58,101

Recruit

Holdings

Co.

Ltd.

10,000

664,065

Renesas

Electronics

Corp.

(a)

9,500

116,808

Resona

Holdings,

Inc.

13,500

50,673

Ricoh

Co.

Ltd.

3,000

29,099

ROHM

Co.

Ltd.

400

36,413

Secom

Co.

Ltd.

600

40,723

Sekisui

Chemical

Co.

Ltd.

2,600

42,526

Sekisui

House

Ltd.

4,800

99,410

Seven

&

i

Holdings

Co.

Ltd.

4,900

205,497

SG

Holdings

Co.

Ltd.

2,700

67,485

Sharp

Corp.

500

5,880

Shimadzu

Corp.

2,200

89,042

Shimano,

Inc.

300

83,087

Shin-Etsu

Chemical

Co.

Ltd.

2,400

426,328

Shionogi

&

Co.

Ltd.

2,100

136,415

Shiseido

Co.

Ltd.

2,500

166,082

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.2%

(continued)

SMC

Corp.

200

119,167

SoftBank

Corp.

13,800

188,135

SoftBank

Group

Corp.

7,100

383,814

Sompo

Holdings,

Inc.

2,400

104,146

Sony

Group

Corp.

7,500

864,284

Subaru

Corp.

3,000

58,619

Sumitomo

Chemical

Co.

Ltd.

7,500

36,834

Sumitomo

Corp.

5,700

80,832

Sumitomo

Electric

Industries

Ltd.

5,000

66,060

Sumitomo

Metal

Mining

Co.

Ltd.

2,000

77,579

Sumitomo

Mitsui

Financial

Group,

Inc.

8,000

261,066

Sumitomo

Mitsui

Trust

Holdings,

Inc.

2,400

79,014

Sumitomo

Realty

&

Development

Co.

Ltd.

2,700

97,321

Suntory

Beverage

&

Food

Ltd.

400

15,488

Suzuki

Motor

Corp.

2,600

115,720

Sysmex

Corp.

500

61,697

T&D

Holdings,

Inc.

2,900

37,183

Taisei

Corp.

500

15,654

Takeda

Pharmaceutical

Co.

Ltd.

12,800

359,556

TDK

Corp.

2,100

76,062

Terumo

Corp.

4,800

211,238

Toho

Co.

Ltd.

1,500

70,379

Tokio

Marine

Holdings,

Inc.

3,200

168,328

Tokyo

Electron

Ltd.

600

278,097

Tokyu

Corp.

3,000

42,149

Toray

Industries,

Inc.

8,400

52,223

Toshiba

Corp.

2,600

111,958

Toto

Ltd.

400

19,294

Toyota

Industries

Corp.

1,600

135,549

Toyota

Motor

Corp.

70,400

1,238,830

Toyota

Tsusho

Corp.

600

25,942

Unicharm

Corp.

2,600

104,707

West

Japan

Railway

Co.

400

18,813

Yakult

Honsha

Co.

Ltd.

400

20,136

Yamaha

Corp.

1,500

94,453

Yamaha

Motor

Co.

Ltd.

2,100

58,290

Yamato

Holdings

Co.

Ltd.

2,500

61,324

Yaskawa

Electric

Corp.

2,100

90,612

Z

Holdings

Corp.

13,100

81,110

ZOZO,

Inc.

300

9,590

22,331,230

Luxembourg

–

0.2%

ArcelorMittal

SA

3,679

124,852

Eurofins

Scientific

SE

651

76,798

201,650

Macau

–

0.1%

Galaxy

Entertainment

Group

Ltd.

(a)

5,000

27,060

Sands

China

Ltd.

(a)

20,400

46,627

73,687

Netherlands

–

5.2%

Adyen

NV

(a)(c)

162

489,402

AKZO

Nobel

NV

625

71,909

Argenx

SE

(a)

292

87,487

Asm

International

NV

165

74,736

ASML

Holding

NV

2,307

1,870,177

EXOR

NV

534

50,365

HAL

Trust

490

85,625

Heineken

Holding

NV

546

50,675

Heineken

NV

1,330

147,481

ING

Groep

NV

21,415

325,146

Koninklijke

Ahold

Delhaize

NV

5,853

190,535

50

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Netherlands

–

5.2%

(continued)

Koninklijke

DSM

NV

1,025

224,247

Koninklijke

KPN

NV

16,307

48,782

Koninklijke

Philips

NV

5,054

238,190

NN

Group

NV

2,116

113,426

Royal

Dutch

Shell

PLC,

Class

A

22,893

527,507

Royal

Dutch

Shell

PLC,

Class

B

20,211

466,816

Wolters

Kluwer

NV

1,531

160,591

5,223,097

New

Zealand

–

0.2%

Auckland

International

Airport

Ltd.

(a)

7,807

44,641

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

2,982

66,604

Mercury

NZ

Ltd.

2,805

12,315

Meridian

Energy

Ltd.

8,063

28,794

Spark

New

Zealand

Ltd.

11,925

38,958

191,312

Norway

–

0.7%

AKER

BP

ASA

1,307

50,044

DNB

Bank

ASA

4,870

115,600

Equinor

ASA

5,863

148,147

Gjensidige

Forsikring

ASA

1,026

25,482

Mowi

ASA

2,557

73,935

Norsk

Hydro

ASA

8,730

63,860

Orkla

ASA

4,839

46,998

Salmar

ASA

263

19,991

Schibsted

ASA,

Class

A

534

27,504

Schibsted

ASA,

Class

B

404

18,215

Telenor

ASA

3,355

52,887

Tomra

Systems

ASA

566

36,479

679,142

Poland

–

0.3%

Allegro.Eu

SA

(a)(c)

1,239

14,023

Dino

Polska

SA

(a)(c)

335

29,949

KGHM

Polska

Miedz

SA

2,740

105,431

Polski

Koncern

Naftowy

ORLEN

SA

1,336

28,840

Polskie

Gornictwo

Naftowe

i

Gazownictwo

SA

7,463

11,262

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

(a)

3,815

46,699

Powszechny

Zaklad

Ubezpieczen

SA

2,767

27,693

Santander

Bank

Polska

SA

135

12,546

276,443

Portugal

–

0.1%

EDP

-

Energias

de

Portugal

SA

14,550

82,237

Russia

–

0.0%

Coca-Cola

HBC

AG

1,046

36,318

Evraz

PLC

1,393

11,869

48,187

Saudi

Arabia

–

0.1%

Delivery

Hero

SE

(a)(c)

1,023

127,325

Singapore

–

1.1%

Ascendas

Real

Estate

Investment

Trust

(b)

16,296

37,341

CapitaLand

Integrated

Commercial

Trust

(b)

26,954

42,974

CapitaLand

Investment

Ltd.

(a)

16,100

41,071

DBS

Group

Holdings

Ltd.

10,663

249,317

Genting

Singapore

Ltd.

164,100

94,919

Great

Eastern

Holdings

Ltd.

100

1,596

Jardine

Cycle

&

Carriage

Ltd.

100

1,668

Keppel

Corp.

Ltd.

9,400

37,502

Mapletree

Industrial

Trust

(b)

211

430

Mapletree

Logistics

Trust

(b)

11,000

16,478

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Singapore

–

1.1%

(continued)

Oversea-Chinese

Banking

Corp.

Ltd.

23,719

207,552

Singapore

Airlines

Ltd.

(a)

7,500

28,921

Singapore

Exchange

Ltd.

5,100

36,610

Singapore

Technologies

Engineering

Ltd.

10,300

29,254

Singapore

Telecommunications

Ltd.

32,400

60,067

United

Overseas

Bank

Ltd.

8,400

166,630

1,052,330

South

Africa

–

0.3%

Anglo

American

PLC

7,618

290,559

Spain

–

2.3%

Aena

SME

SA

(a)(c)

410

67,209

Amadeus

IT

Group

SA

(a)

2,648

177,245

Banco

Bilbao

Vizcaya

Argentaria

SA

36,897

258,842

Banco

Santander

SA

96,161

364,616

CaixaBank

SA

21,213

61,004

Cellnex

Telecom

SA

(c)

4,874

299,958

EDP

Renovaveis

SA

2,056

57,341

Endesa

SA

784

18,096

Ferrovial

SA

2,792

88,078

Grifols

SA

202

4,627

Iberdrola

SA

32,310

381,946

Industria

de

Diseno

Textil

SA

5,931

214,420

Naturgy

Energy

Group

SA

1,807

47,532

Repsol

SA

6,930

88,666

Siemens

Gamesa

Renewable

Energy

SA

(a)

1,235

33,486

Telefonica

SA

31,399

136,789

2,299,855

Sweden

–

3.3%

ALFA

Laval

AB

1,617

69,229

ASSA

Abloy

AB,

Class

B

5,563

162,903

Atlas

Copco

AB,

Class

A

3,624

232,837

Atlas

Copco

AB,

Class

B

2,206

119,309

Boliden

AB

1,265

44,614

Electrolux

AB,

Class

B

1,127

25,575

Embracer

Group

AB,

Class

B

(a)

2,170

20,173

Epiroc

AB,

Class

A

3,593

89,401

Epiroc

AB,

Class

B

2,366

50,276

EQT

AB

24

1,265

Essity

AB,

Class

A

307

9,937

Essity

AB,

Class

B

3,398

109,910

Evolution

AB

(c)

869

140,562

Fastighets

AB

Balder,

Class

B

(a)

534

38,686

Hennes

&

Mauritz

AB,

Class

B

4,364

81,818

Hexagon

AB,

Class

B

11,015

176,989

ICA

Gruppen

AB

718

37,118

Industrivarden

AB,

Class

A

1,009

33,271

Industrivarden

AB,

Class

C

604

19,614

Indutrade

AB

936

27,235

Investment

AB

Latour,

Class

B

675

24,458

Investor

AB,

Class

A

2,823

65,253

Investor

AB,

Class

B

10,190

234,802

Kinnevik

AB,

Class

B

(a)

2,229

87,372

L

E

Lundbergforetagen

AB,

Class

B

260

14,973

Lifco

AB,

Class

B

912

26,558

Lundin

Energy

AB

574

22,670

Nibe

Industrier

AB,

Class

B

7,833

116,604

Sagax

AB,

Class

B

455

17,801

Sagax

AB,

Class

D

1,209

4,610

Sandvik

AB

6,202

157,063

Sinch

AB

(a)(c)

3,018

57,226

51

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Sweden

–

3.3%

(continued)

Skandinaviska

Enskilda

Banken

AB,

Class

A

9,022

141,026

Skandinaviska

Enskilda

Banken

AB,

Class

C

291

4,662

Skanska

AB,

Class

B

50

1,269

SKF

AB,

Class

A

199

4,680

SKF

AB,

Class

B

2,022

46,851

Svenska

Cellulosa

AB

SCA,

Class

A

322

5,069

Svenska

Cellulosa

AB

SCA,

Class

B

3,258

50,794

Svenska

Handelsbanken

AB,

Class

A

6,511

74,552

Svenska

Handelsbanken

AB,

Class

B

1,860

23,498

Swedbank

AB,

Class

A

4,966

107,687

Swedish

Match

AB

9,577

84,279

Tele2

AB,

Class

B

2,695

38,016

Telefonaktiebolaget

LM

Ericsson,

Class

A

512

5,604

Telefonaktiebolaget

LM

Ericsson,

Class

B

14,635

160,178

Telia

Co.

AB

14,716

57,906

Volvo

AB,

Class

A

859

20,284

Volvo

AB,

Class

B

9,184

213,782

3,360,249

Switzerland

–

9.1%

ABB

Ltd.

10,242

339,513

Alcon,

Inc.

2,839

235,074

Barry

Callebaut

AG

22

50,994

Chocoladefabriken

Lindt

&

Spruengli

AG

17

200,744

CIE

Financiere

Richemont

SA,

Class

A

2,664

329,738

Credit

Suisse

Group

AG

14,178

147,901

EMS-Chemie

Holding

AG

44

43,699

Geberit

AG

218

170,535

Givaudan

SA

49

231,071

Holcim

Ltd.

5,509

275,586

Kuehne

+

Nagel

International

AG

217

68,466

Logitech

International

SA

534

44,543

Lonza

Group

AG

429

352,402

Nestle

SA

14,986

1,981,514

Novartis

AG

12,974

1,073,985

Partners

Group

Holding

AG

111

194,060

Roche

Holding

AG

3,832

1,484,782

Roche

Holding

AG,

BR

160

68,815

Schindler

Holding

AG

95

24,412

Schindler

Holding

AG,

PC

239

62,304

SGS

SA

28

82,981

Sika

AG

789

267,677

Sonova

Holding

AG

319

132,069

STMicroelectronics

NV

3,452

163,448

Straumann

Holding

AG

57

118,647

Swatch

Group

AG

(The)

234

12,456

Swatch

Group

AG

(The),

BR

106

29,141

Swiss

Life

Holding

AG

206

113,309

Swisscom

AG

138

75,271

UBS

Group

AG

21,072

383,851

Zurich

Insurance

Group

AG

859

381,579

9,140,567

United

Kingdom

–

10.2%

3i

Group

PLC

5,498

102,796

Admiral

Group

PLC

1,331

52,362

Ashtead

Group

PLC

2,564

215,234

Associated

British

Foods

PLC

1,351

33,112

AstraZeneca

PLC

8,230

1,025,918

Aveva

Group

PLC

663

32,335

Aviva

PLC

17,736

95,958

BAE

Systems

PLC

17,857

135,067

Barclays

PLC

89,346

247,698

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

United

Kingdom

–

10.2%

(continued)

BP

PLC

111,889

537,108

British

American

Tobacco

PLC

12,456

434,791

BT

Group

PLC,

Class

A

(a)

32,834

62,515

Bunzl

PLC

1,521

56,334

CK

Hutchison

Holdings

Ltd.

13,500

90,850

CNH

Industrial

NV

5,308

91,710

Coca-Cola

European

Partners

PLC

1,206

63,496

Compass

Group

PLC

(a)

9,912

210,596

Croda

International

PLC

702

91,011

Diageo

PLC

12,863

640,392

Entain

PLC

(a)

3,045

85,482

Experian

PLC

5,089

233,478

GlaxoSmithKline

PLC

26,150

540,759

Halma

PLC

2,287

92,856

HSBC

Holdings

PLC

114,086

690,432

Imperial

Brands

PLC

5,319

112,428

InterContinental

Hotels

Group

PLC

(a)

1,109

77,802

Intertek

Group

PLC

842

56,497

JD

Sports

Fashion

PLC

2,287

34,108

Just

Eat

Takeaway.com

NV

(a)(c)

829

59,595

Legal

&

General

Group

PLC

33,337

132,018

Lloyds

Banking

Group

PLC

390,191

268,604

London

Stock

Exchange

Group

PLC

1,693

164,768

National

Grid

PLC

21,837

279,994

NatWest

Group

PLC

29,723

90,082

Next

PLC

701

76,545

Ocado

Group

PLC

(a)

2,731

67,496

Persimmon

PLC

1,672

62,362

Prudential

PLC

14,760

302,371

Reckitt

Benckiser

Group

PLC

4,050

328,928

RELX

PLC

11,226

348,385

Rentokil

Initial

PLC

10,370

83,639

Rolls-Royce

Holdings

PLC

(a)

46,811

84,597

Schroders

PLC

134

4,537

Schroders

PLC

663

32,899

Segro

PLC

(b)

6,234

110,447

Smith

&

Nephew

PLC

3,720

63,995

Spirax-Sarco

Engineering

PLC

404

86,418

SSE

PLC

6,020

135,620

Standard

Chartered

PLC

15,864

107,619

Tesco

PLC

36,275

134,205

Unilever

PLC

14,364

770,251

Vodafone

Group

PLC

149,445

221,322

WPP

PLC

7,781

112,631

10,272,453

United

States

–

1.4%

Ferguson

PLC

1,307

196,983

James

Hardie

Industries

PLC,

CDI

2,839

110,137

Schneider

Electric

SE

2,987

514,703

Stellantis

NV

11,816

235,877

Swiss

RE

AG

1,695

164,427

Tenaris

SA

1,891

21,074

Waste

Connections,

Inc.

1,491

202,561

1,445,762

Zambia

–

0.1%

First

Quantum

Minerals

Ltd.

2,633

62,238

Total

Common

Stocks

(cost

$85,297,797)

99,339,091

52

STATEMENT

OF

INVESTMENTS

(continued)

(e)

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,

2021

are

as

follows:

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Rights

–

0.0%

Australia

–

0.0%

Aristocrat

Leisure

Ltd.,

Rights

expiring

11/11/2021

(a)

118

419

Total

Rights

(cost

$–)

419

Preferred

Stocks

–

0.6%

Germany

–

0.6%

Bayerische

Motoren

Werke

AG,

4.71%

299

25,467

Henkel

AG

&

Co.

KGaA,

2.14%

1,013

90,712

Porsche

Automobil

Holding

SE,

2.87%

1,137

118,184

Sartorius

AG,

0.20%

164

106,358

Volkswagen

AG,

3.54%

1,083

242,915

583,636

Spain

–

0.0%

Grifols

SA,

Class

B,

5.66%

50

658

Total

Preferred

Stocks

(cost

$518,083)

584,294

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(e)(f)

(cost

$121,575)

121,575

121,575

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(e)(f)

(cost

$145,698)

145,698

145,698

Total

Investments

(cost

$86,083,153)

99.8%

100,191,077

Cash

and

Receivables

(Net)

0.2%

218,054

Net

Assets

100.0%

100,409,131

BR—Bearer

Shares

CDI—CREST

Depository

Interest

PC—Participation

Certificate

REIT—Real

Estate

Investment

Trust

(a)

Non-income

producing

security.

(b)

Investment

in

a

real

estate

investment

trust.

(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,

2021,

these

securities

were

valued

at

$1,821,013

or

1.81%

of

net

assets.

(d)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$61,900

and

the

value

of

the

collateral

was

$145,698,

consisting

of

cash

collateral.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

45,827

1,752,417

(1,676,669)

—

—

121,575

0.1

10

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

26,856

3,386,742

(3,267,900)

—

—

145,698

0.2

65

2

Total

72,683

5,139,159

(4,944,569)

—

—

267,273

0.3

75

53

(f)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

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

19.7

Industrials

15.7

Consumer

Discretionary

11.9

Health

Care

12.0

Information

Technology

10.0

Consumer

Staples

9.5

Materials

7.2

Energy

4.8

Communication

Services

3.9

Utilities

2.9

Real

Estate

1.9

Registered

Investment

Companies

0.3

99.8

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

EAFE

Index

2

12/17/2021

227,024

233,960

6,936

54

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

Emerging

Markets

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

97.9%

Brazil

–

2.6%

Ambev

SA

25,900

78,247

Atacadao

SA

200

592

B3

SA

-

Brasil

Bolsa

Balcao

33,900

71,805

Banco

Bradesco

SA

7,880

23,848

Banco

BTG

Pactual

SA

4,800

19,287

Banco

do

Brasil

SA

7,500

37,986

Banco

Inter

SA

900

5,748

BB

Seguridade

Participacoes

SA

300

1,177

Centrais

Eletricas

Brasileiras

SA

2,600

15,636

Cia

Siderurgica

Nacional

SA

1,000

4,064

Hapvida

Participacoes

e

Investimentos

SA

(a)

9,700

19,841

Itausa

-

Investimentos

Itau

SA

5,300

9,731

Localiza

Rent

A

Car

SA

4,000

32,031

Magazine

Luiza

SA

19,900

38,197

Natura

&

Co.

Holding

SA

(b)

5,800

40,025

Notre

Dame

Intermedica

Participacoes

SA

2,700

30,789

Petroleo

Brasileiro

SA

21,400

105,387

Raia

Drogasil

SA

5,500

22,831

Rede

D'or

Sao

Luiz

SA

(a)

4,000

42,228

Suzano

SA

(b)

4,500

39,220

Telefonica

Brasil

SA

1,700

13,725

Vale

SA

22,900

291,683

WEG

SA

8,400

55,002

999,080

Chile

–

0.3%

AntarChile

SA

961

8,075

Banco

de

Chile

267,300

23,260

Banco

de

Credito

e

Inversiones

SA

302

10,197

Banco

Santander

Chile

289,838

12,718

Cencosud

SA

2,358

3,459

Empresas

CMPC

SA

10,284

19,026

Empresas

COPEC

SA

2,109

16,637

Enel

Americas

SA

10,000

1,140

Enel

Chile

SA

346,980

14,254

Falabella

SA

3,603

9,990

118,756

China

–

35.0%

360

Security

Technology,

Inc.,

Class

A

(b)

200

376

AECC

Aviation

Power

Co.

Ltd.,

Class

A

1,100

10,169

Agricultural

Bank

of

China

Ltd.,

Class

A

64,800

29,771

Agricultural

Bank

of

China

Ltd.,

Class

H

167,000

56,890

Airtac

International

Group

1,046

31,220

Alibaba

Group

Holding

Ltd.

(b)

80,080

1,677,974

Alibaba

Health

Information

Technology

Ltd.

(b)(c)

26,000

32,855

Aluminum

Corp.

of

China

Ltd.,

Class

A

(b)

4,900

4,701

Aluminum

Corp.

of

China

Ltd.,

Class

H

(b)

24,000

14,346

Anhui

Conch

Cement

Co.

Ltd.,

Class

A

700

4,165

Anhui

Conch

Cement

Co.

Ltd.,

Class

H

7,500

37,312

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

A

200

7,115

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

B

600

7,735

ANTA

Sports

Products

Ltd.

6,000

93,790

Asymchem

Laboratories

Tianjin

Co.

Ltd.,

Class

A

100

6,223

Autohome,

Inc.,

Class

A

(b)

1,700

17,286

Avary

Holding

Shenzhen

Co.

Ltd.,

Class

A

1,100

6,015

Baidu,

Inc.,

Class

A

(b)

12,250

255,108

Bank

of

Beijing

Co.

Ltd.,

Class

A

19,400

13,430

Bank

of

China

Ltd.,

Class

A

30,400

14,489

Bank

of

China

Ltd.,

Class

H

421,000

148,829

Bank

of

Communications

Co.

Ltd.,

Class

A

15,500

10,948

Bank

of

Communications

Co.

Ltd.,

Class

H

116,000

69,042

Bank

of

Hangzhou

Co.

Ltd.,

Class

A

1,800

4,017

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

China

–

35.0%

(continued)

Bank

of

Jiangsu

Co.

Ltd.,

Class

A

8,700

8,551

Bank

of

Nanjing

Co.

Ltd.,

Class

A

3,400

5,154

Bank

of

Ningbo

Co.

Ltd.,

Class

A

4,000

23,878

Bank

of

Shanghai

Co.

Ltd.,

Class

A

6,800

7,746

Baoshan

Iron

&

Steel

Co.

Ltd.,

Class

A

10,000

11,142

BeiGene

Ltd.

(b)

3,500

97,994

Beijing

New

Building

Materials

PLC,

Class

A

1,300

5,737

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co.

Ltd.,

Class

A

200

6,914

Bilibili,

Inc.,

Class

Z

(b)

1,240

93,808

BOC

Hong

Kong

Holdings

Ltd.

21,000

66,679

BOE

Technology

Group

Co.

Ltd.,

Class

A

19,700

15,115

BOE

Technology

Group

Co.

Ltd.,

Class

B

600

257

BYD

Co.

Ltd.,

Class

A

600

29,188

BYD

Co.

Ltd.,

Class

H

4,500

171,576

BYD

Electronic

International

Co.

Ltd.

5,000

14,880

Cansino

Biologics,

Inc.,

Class

H

(a),(b)

400

10,305

CGN

Power

Co.

Ltd.,

Class

H

(a)

103,000

27,805

Changchun

High

&

New

Technology

Industry

Group,

Inc.,

Class

A

200

8,525

China

CITIC

Bank

Corp.

Ltd.,

Class

H

74,000

32,534

China

Coal

Energy

Co.

Ltd.,

Class

A

3,600

3,927

China

Coal

Energy

Co.

Ltd.,

Class

H

7,000

4,265

China

Construction

Bank

Corp.,

Class

A

4,000

3,707

China

Construction

Bank

Corp.,

Class

H

545,000

370,617

China

CSSC

Holdings

Ltd.,

Class

A

1,000

3,524

China

Eastern

Airlines

Corp.

Ltd.,

Class

A

(b)

8,600

6,491

China

Eastern

Airlines

Corp.

Ltd.,

Class

H

(b)

6,000

2,360

China

Everbright

Bank

Co.

Ltd.,

Class

A

12,700

6,827

China

Everbright

Bank

Co.

Ltd.,

Class

H

16,000

5,636

China

Evergrande

Group

1,000

298

China

Feihe

Ltd.

(a)

17,000

28,322

China

Galaxy

Securities

Co.

Ltd.,

Class

A

2,000

3,088

China

Galaxy

Securities

Co.

Ltd.,

Class

H

17,500

9,763

China

Gas

Holdings

Ltd.

(c)

11,000

27,517

China

Hongqiao

Group

Ltd.

12,000

13,344

China

International

Capital

Corp.

Ltd.,

Class

H

(a)

6,800

16,923

China

Life

Insurance

Co.

Ltd.,

Class

H

39,000

67,983

China

Mengniu

Dairy

Co.

Ltd.

16,000

101,915

China

Merchants

Bank

Co.

Ltd.,

Class

A

8,000

67,470

China

Merchants

Bank

Co.

Ltd.,

Class

H

22,000

185,383

China

Merchants

Securities

Co.

Ltd.,

Class

H

(a)

9,400

14,863

China

Merchants

Shekou

Industrial

Zone

Holdings

Co.

Ltd.,

Class

A

10,200

16,625

China

Minsheng

Banking

Corp.

Ltd.,

Class

A

500

304

China

Minsheng

Banking

Corp.

Ltd.,

Class

H

53,500

21,251

China

Molybdenum

Co.

Ltd.,

Class

A

11,500

10,764

China

Molybdenum

Co.

Ltd.,

Class

H

18,000

11,176

China

National

Nuclear

Power

Co.

Ltd.,

Class

A

16,200

17,341

China

Northern

Rare

Earth

Group

High-Tech

Co.

Ltd.,

Class

A

1,300

10,279

China

Overseas

Land

&

Investment

Ltd.

19,500

43,016

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

A

3,500

14,986

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

H

15,400

47,512

China

Petroleum

&

Chemical

Corp.,

Class

A

18,400

12,220

China

Petroleum

&

Chemical

Corp.,

Class

H

140,000

68,749

China

Railway

Group

Ltd.,

Class

A

23,100

18,951

China

Railway

Group

Ltd.,

Class

H

7,000

3,428

China

Resources

Beer

Holdings

Co.

Ltd.

8,000

66,332

China

Resources

Gas

Group

Ltd.

4,000

21,494

China

Resources

Land

Ltd.

16,000

62,321

China

Resources

Mixc

Lifestyle

Services

Ltd.

(a)

3,400

17,898

55

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

China

–

35.0%

(continued)

China

Shenhua

Energy

Co.

Ltd.,

Class

A

3,400

10,568

China

Shenhua

Energy

Co.

Ltd.,

Class

H

17,500

37,704

China

Southern

Airlines

Co.

Ltd.,

Class

A

(b)

7,500

7,688

China

Southern

Airlines

Co.

Ltd.,

Class

H

(b)

14,000

8,531

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

A

900

37,756

China

Vanke

Co.

Ltd.,

Class

A

7,100

20,204

China

Vanke

Co.

Ltd.,

Class

H

6,200

14,522

China

Yangtze

Power

Co.

Ltd.,

Class

A

11,700

38,852

China

Zheshang

Bank

Co.

Ltd.,

Class

A

6,700

3,602

China

Zheshang

Bank

Co.

Ltd.,

Class

H

4,000

1,615

Chongqing

Brewery

Co.,

Class

A

(b)

300

7,053

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

A

3,220

9,812

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

B

2,380

1,536

CITIC

Pacific

Special

Steel

Group

Co.

Ltd.,

Class

A

2,500

7,442

CITIC

Securities

Co.

Ltd.,

Class

A

5,900

23,861

CITIC

Securities

Co.

Ltd.,

Class

H

11,000

28,027

CNPC

Capital

Co.

Ltd.,

Class

A

1,200

951

Country

Garden

Holdings

Co.

Ltd.

35,858

33,696

Country

Garden

Services

Holdings

Co.

Ltd.

10,000

77,773

CSPC

Pharmaceutical

Group

Ltd.

(c)

49,760

52,069

Ecovacs

Robotics

Co.

Ltd.,

Class

A

100

2,680

ENN

Energy

Holdings

Ltd.

4,500

77,921

Evergrande

Property

Services

Group

Ltd.

(a),(b)

29,600

15,144

Focus

Media

Information

Technology

Co.

Ltd.,

Class

A

13,400

15,412

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.,

Class

A

1,820

33,281

Fosun

International

Ltd.

17,000

19,996

Founder

Securities

Co.

Ltd.,

Class

A

4,700

5,993

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

A

1,100

8,492

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

H

(a)

2,400

13,853

Gan

&

Lee

Pharmaceuticals

Co.

Ltd.,

Class

A

100

1,053

Ganfeng

Lithium

Co.

Ltd.,

Class

A

300

7,848

Ganfeng

Lithium

Co.

Ltd.,

Class

H

(a)

1,600

30,009

GDS

Holdings

Ltd.,

Class

A

(b)

5,500

42,210

Geely

Automobile

Holdings

Ltd.

30,000

104,319

GF

Securities

Co.

Ltd.,

Class

A

4,000

12,576

GF

Securities

Co.

Ltd.,

Class

H

7,000

11,896

Gigadevice

Semiconductor

Beijing,

Inc.,

Class

A

280

7,417

GoerTek,

Inc.,

Class

A

1,300

8,845

Gongniu

Group

Co.

Ltd.,

Class

A

100

2,463

Great

Wall

Motor

Co.

Ltd.,

Class

A

400

4,250

Great

Wall

Motor

Co.

Ltd.,

Class

H

19,000

85,730

Greenland

Holdings

Corp.

Ltd.,

Class

A

7,265

4,666

Guangdong

Haid

Group

Co.

Ltd.,

Class

A

400

4,104

Guangdong

Investment

Ltd.

10,000

12,598

Guangzhou

Shiyuan

Electronic

Technology

Co.

Ltd.,

Class

A

200

2,375

Guosen

Securities

Co.

Ltd.,

Class

A

3,000

5,344

Guotai

Junan

Securities

Co.

Ltd.,

Class

A

4,200

11,499

Guotai

Junan

Securities

Co.

Ltd.,

Class

H

(a)

2,800

3,830

Haidilao

International

Holding

Ltd.

(a)

6,000

16,814

Haier

Smart

Home

Co.

Ltd.,

Class

A

3,600

15,302

Haier

Smart

Home

Co.

Ltd.,

Class

H

12,800

47,882

Haitong

Securities

Co.

Ltd.,

Class

A

7,100

13,702

Haitong

Securities

Co.

Ltd.,

Class

H

18,000

16,035

Hangzhou

First

Applied

Material

Co.

Ltd.,

Class

A

300

6,718

Hansoh

Pharmaceutical

Group

Co.

Ltd.

(a)

10,000

22,342

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.,

Class

A

1,800

8,298

Hengli

Petrochemical

Co.

Ltd.,

Class

A

3,400

11,710

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

China

–

35.0%

(continued)

Hengten

Networks

Group

Ltd.

(b)

24,000

8,238

Huadong

Medicine

Co.

Ltd.,

Class

A

1,000

5,726

Hualan

Biological

Engineering,

Inc.,

Class

A

1,300

6,033

Huaneng

Lancang

River

Hydropower,

Inc.,

Class

A

3,300

3,501

Huatai

Securities

Co.

Ltd.,

Class

A

5,700

14,136

Huatai

Securities

Co.

Ltd.,

Class

H

(a)

1,000

1,491

Huaxia

Bank

Co.

Ltd.,

Class

A

14,100

12,405

Huayu

Automotive

Systems

Co.

Ltd.,

Class

A

1,100

4,596

Huazhu

Group

Ltd.

(b)

8,100

37,954

Hundsun

Technologies,

Inc.,

Class

A

660

6,498

Iflytek

Co.

Ltd.,

Class

A

1,000

8,817

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

A

45,700

33,350

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

H

349,000

191,121

Industrial

Bank

Co.

Ltd.,

Class

A

8,900

25,910

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.,

Class

A

3,200

21,502

Innovent

Biologics,

Inc.

(a),(b)

5,500

49,350

JD

Health

International,

Inc.

(a),(b)

6,050

53,586

JD

Logistics,

Inc.

(a),(b)

4,100

16,207

JD.com,

Inc.,

Class

A

(b)

10,100

403,011

Jiangsu

Eastern

Shenghong

Co.

Ltd.,

Class

A

1,600

6,813

Jiangsu

Hengli

Hydraulic

Co.

Ltd.,

Class

A

544

6,979

Jiangsu

Hengrui

Medicine

Co.

Ltd.,

Class

A

840

6,463

Jiangsu

King's

Luck

Brewery

JSC

Ltd.,

Class

A

500

3,854

Jiangsu

Yanghe

Brewery

Joint-Stock

Co.

Ltd.,

Class

A

700

20,366

Jiangxi

Copper

Co.

Ltd.,

Class

A

1,100

4,003

Jiangxi

Copper

Co.

Ltd.,

Class

H

7,000

12,256

KE

Holdings,

Inc.,

ADR

(b)

2,899

52,820

Kingdee

International

Software

Group

Co.

Ltd.

(b)

14,000

46,252

Kuaishou

Technology,

Class

B

(a),(b)

5,500

73,177

Kweichow

Moutai

Co.

Ltd.,

Class

A

600

171,214

Lenovo

Group

Ltd.

36,000

39,151

Li

Auto,

Inc.,

ADR

(b)(c)

1,469

47,933

Li

Ning

Co

Ltd.

12,000

133,435

Longfor

Group

Holdings

Ltd.

(a)

9,000

43,733

LONGi

Green

Energy

Technology

Co.

Ltd.,

Class

A

2,240

34,195

Luxshare

Precision

Industry

Co.

Ltd.,

Class

A

3,100

18,718

Luzhou

Laojiao

Co.

Ltd.,

Class

A

700

25,044

Meituan,

Class

B

(a),(b)

22,500

779,787

Microport

Scientific

Corp.

4,400

20,758

Midea

Group

Co.

Ltd.,

Class

A

2,900

31,165

Muyuan

Foods

Co.

Ltd.,

Class

A

2,520

22,490

NARI

Technology

Co.

Ltd.,

Class

A

3,000

18,250

NAURA

Technology

Group

Co.

Ltd.,

Class

A

200

11,603

NetEase,

Inc.

10,100

199,558

New

China

Life

Insurance

Co.

Ltd.,

Class

A

1,000

6,121

New

China

Life

Insurance

Co.

Ltd.,

Class

H

4,700

13,624

New

Hope

Liuhe

Co.

Ltd.,

Class

A

(b)

200

450

New

Oriental

Education

&

Technology

Group,

Inc.

(b)

6,300

13,023

Ningxia

Baofeng

Energy

Group

Co.

Ltd.,

Class

A

2,600

5,932

Nio,

Inc.,

ADR

(b)

7,211

284,186

Nongfu

Spring

Co.

Ltd.,

Class

H

(a)

9,200

46,656

Offcn

Education

Technology

Co.

Ltd.,

Class

A

(b)

800

1,305

Oppein

Home

Group,

Inc.,

Class

A

100

1,989

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

H

36,000

11,246

PetroChina

Co.

Ltd.,

Class

H

118,000

57,035

56

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

China

–

35.0%

(continued)

Pinduoduo,

Inc.,

ADR

(b)

2,458

218,565

Ping

An

Bank

Co.

Ltd.,

Class

A

9,400

28,644

Ping

An

Healthcare

And

Technology

Co.

Ltd.

(a),(b)

3,600

17,516

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

A

2,600

20,140

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

35,000

251,509

Poly

Developments

and

Holdings

Group

Co.

Ltd.,

Class

A

10,500

20,608

Pop

Mart

International

Group

Ltd.

(a)

4,300

25,400

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

H

(a)

49,000

35,652

Rongsheng

Petro

Chemical

Co.

Ltd.,

Class

A

4,500

12,123

SAIC

Motor

Corp.

Ltd.,

Class

A

4,300

13,627

Sanan

Optoelectronics

Co.

Ltd.,

Class

A

1,900

9,976

Sany

Heavy

Industry

Co.

Ltd.,

Class

A

4,100

14,710

SDIC

Power

Holdings

Co.

Ltd.,

Class

A

800

1,319

Seazen

Holdings

Co.

Ltd.,

Class

A

1,100

5,886

SF

Holding

Co.

Ltd.,

Class

A

1,400

14,139

Shaanxi

Coal

Industry

Co.

Ltd.,

Class

A

5,600

10,947

Shandong

Gold

Mining

Co.

Ltd.,

Class

H

(a)

5,400

9,816

Shandong

Linglong

Tyre

Co.

Ltd.,

Class

A

700

3,859

Shanghai

Electric

Group

Co.

Ltd.,

Class

A

6,300

4,676

Shanghai

Electric

Group

Co.

Ltd.,

Class

H

6,000

1,689

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

A

800

6,251

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

H

3,500

16,512

Shanghai

International

Airport

Co.

Ltd.,

Class

A

(b)

100

825

Shanghai

International

Port

Group

Co.

Ltd.,

Class

A

4,100

3,626

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

A

(b)

100

754

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

H

(a),(b)

1,800

9,059

Shanghai

M&G

Stationery,

Inc.,

Class

A

100

992

Shanghai

Pudong

Development

Bank

Co.

Ltd.,

Class

A

8,400

11,735

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.,

Class

A

560

26,384

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

A

16,300

13,067

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

H

(a)

6,400

1,621

Shenzhen

Overseas

Chinese

Town

Co.

Ltd.,

Class

A

6,300

6,163

Shenzhou

International

Group

Holdings

Ltd.

4,500

97,068

Shimao

Property

Holdings

Ltd.

(c)

1,000

1,573

Silergy

Corp.

400

65,879

Smoore

International

Holdings

Ltd.

(a)

9,000

43,154

Sunac

China

Holdings

Ltd.

5,000

10,773

Sunny

Optical

Technology

Group

Co.

Ltd.

4,200

113,489

TCL

Technology

Group

Corp.,

Class

A

6,300

5,966

Tencent

Holdings

Ltd.

33,500

2,071,397

Tencent

Music

Entertainment

Group,

ADR

(b)

1,172

9,212

Tianjin

Zhonghuan

Semiconductor

Co.

Ltd.,

Class

A

1,100

9,000

Tingyi

Cayman

Islands

Holding

Corp.

12,000

22,460

Tongwei

Co.

Ltd.,

Class

A

2,100

18,781

Topchoice

Medical

Corp.,

Class

A

(b)

200

7,453

Trip.com

Group

Ltd.

(b)

2,350

68,092

Tsingtao

Brewery

Co.

Ltd.,

Class

A

800

13,036

Tsingtao

Brewery

Co.

Ltd.,

Class

H

2,000

17,393

Unigroup

Guoxin

Microelectronics

Co.

Ltd.,

Class

A

200

6,334

Vipshop

Holdings

Ltd.,

ADR

(b)

2,475

27,621

Wanhua

Chemical

Group

Co.

Ltd.,

Class

A

1,400

23,074

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

China

–

35.0%

(continued)

Weichai

Power

Co.

Ltd.,

Class

A

2,000

4,719

Weichai

Power

Co.

Ltd.,

Class

H

13,000

23,363

Will

Semiconductor

Ltd.,

Class

A

300

12,470

Wingtech

Technology

Co.

Ltd.,

Class

A

600

10,291

Wuliangye

Yibin

Co.

Ltd.,

Class

A

1,800

60,900

Wuxi

AppTec

Co.

Ltd.,

Class

A

1,440

31,056

Wuxi

AppTec

Co.

Ltd.,

Class

H

(a)

1,800

38,480

Wuxi

Biologics

Cayman,

Inc.

(a),(b)

18,000

273,967

Xinyi

Solar

Holdings

Ltd.

24,266

50,784

Xpeng,

Inc.,

Class

A,

ADR

(b)

1,728

80,577

Yihai

International

Holding

Ltd.

1,000

5,881

Yonyou

Network

Technology

Co.

Ltd.,

Class

A

300

1,491

Yum

China

Holdings,

Inc.

2,428

138,590

Yunnan

Baiyao

Group

Co.

Ltd.,

Class

A

700

9,801

Yunnan

Energy

New

Material

Co.

Ltd.,

Class

A

400

18,236

Zai

Lab

Ltd.

(b)

250

26,112

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.,

Class

A

300

19,358

Zhejiang

Chint

Electrics

Co.

Ltd.,

Class

A

900

8,472

Zhejiang

Dahua

Technology

Co.

Ltd.,

Class

A

1,300

4,425

Zhejiang

Huayou

Cobalt

Co.

Ltd.,

Class

A

500

8,677

Zhejiang

NHU

Co.

Ltd.,

Class

A

900

3,817

Zhejiang

Sanhua

Intelligent

Controls

Co.

Ltd.,

Class

A

1,600

5,931

Zhongsheng

Group

Holdings

Ltd.

3,000

27,131

Zhongtai

Securities

Co.

Ltd.,

Class

A

3,000

4,336

Zijin

Mining

Group

Co.

Ltd.,

Class

A

6,300

10,298

Zijin

Mining

Group

Co.

Ltd.,

Class

H

34,000

47,379

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.

2,800

3,190

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.,

Class

H

13,600

9,825

ZTE

Corp.,

Class

A

1,200

6,117

ZTE

Corp.,

Class

H

4,200

12,634

ZTO

Express

Cayman,

Inc.

3,500

105,373

13,426,575

Colombia

–

0.1%

Banco

de

Bogota

SA

654

13,080

Bancolombia

SA

2,124

18,850

Ecopetrol

SA

19,703

14,781

Grupo

Energia

Bogota

SA

Esp

17,122

12,272

58,983

Czech

Republic

–

0.1%

CEZ

AS

881

29,112

Egypt

–

0.1%

Commercial

International

Bank

Egypt

SAE

(b)

9,986

32,424

Greece

–

0.1%

Hellenic

Telecommunications

Organization

SA

1,258

22,274

Hong

Kong

–

0.2%

Orient

Overseas

International

Ltd.

1,000

18,473

Sino

Biopharmaceutical

Ltd.

(c)

47,500

35,171

Xinyi

Glass

Holdings

Ltd.

13,000

36,682

90,326

Hungary

–

0.2%

OTP

Bank

Nyrt

(b)

1,219

73,281

57

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

India

–

13.5%

Adani

Enterprises

Ltd.

1,358

25,817

Adani

Green

Energy

Ltd.

(b)

2,002

30,822

Adani

Ports

&

Special

Economic

Zone

Ltd.

4,386

40,591

Adani

Total

Gas

Ltd.

1,302

25,028

Adani

Transmission

Ltd.

(b)

1,355

31,982

Ambuja

Cements

Ltd.

4,490

24,272

Asian

Paints

Ltd.

2,525

104,536

Avenue

Supermarts

Ltd.,

Class

A

(a),(b)

800

49,523

Axis

Bank

Ltd.

(b)

12,745

126,290

Bajaj

Auto

Ltd.

427

21,140

Bajaj

Finance

Ltd.

1,496

147,843

Bajaj

Finserv

Ltd.

219

52,120

Berger

Paints

India

Ltd.

1,303

12,903

Bharat

Petroleum

Corp.

Ltd.

3,392

18,921

Bharti

Airtel

Ltd.

(b)

14,098

129,032

Britannia

Industries

Ltd.

589

28,913

Cipla

Ltd.

3,005

36,320

Coal

India

Ltd.

11,744

25,791

Dabur

India

Ltd.

2,083

16,297

Divi's

Laboratories

Ltd.

827

56,879

DLF

Ltd.

3,038

16,172

Dr.

Reddy's

Laboratories

Ltd.

721

44,861

Eicher

Motors

Ltd.

826

27,409

Gail

India

Ltd.

11,840

23,536

Godrej

Consumer

Products

Ltd.

(b)

1,770

22,613

Grasim

Industries

Ltd.

2,389

54,910

Havells

India

Ltd.

1,173

19,784

HCL

Technologies

Ltd.

6,547

100,000

HDFC

Asset

Management

Co.

Ltd.

(a)

250

8,838

HDFC

Life

Insurance

Co.

Ltd.

(a)

4,328

39,329

Hero

Motocorp

Ltd.

544

19,303

Hindalco

Industries

Ltd.

8,504

52,218

Hindustan

Unilever

Ltd.

4,901

156,632

Housing

Development

Finance

Corp.

Ltd.

9,242

351,099

ICICI

Bank

Ltd.

28,931

309,879

ICICI

Lombard

General

Insurance

Co.

Ltd.

(a)

1,173

23,208

ICICI

Prudential

Life

Insurance

Co.

Ltd.

(a)

1,906

15,741

Indian

Oil

Corp.

Ltd.

15,706

26,837

Indus

Towers

Ltd.

5,339

19,358

INFO

Edge

India

Ltd.

400

32,453

Infosys

Ltd.

20,243

450,851

Interglobe

Aviation

Ltd.

(a),(b)

625

18,155

ITC

Ltd.

15,888

47,358

JSW

Steel

Ltd.

6,193

55,342

Kotak

Mahindra

Bank

Ltd.

6,058

164,323

Larsen

&

Toubro

Infotech

Ltd.

(a)

283

25,255

Larsen

&

Toubro

Ltd.

4,077

96,187

Mahindra

&

Mahindra

Ltd.

5,052

59,658

Maruti

Suzuki

India

Ltd.

742

74,143

Motherson

Sumi

Systems

Ltd.

6,340

18,919

Nestle

India

Ltd.

175

44,404

NTPC

Ltd.

28,588

50,643

Oil

&

Natural

Gas

Corp.

Ltd.

19,048

37,915

Pidilite

Industries

Ltd.

667

20,609

Power

Grid

Corp.

of

India

Ltd.

19,125

47,263

Reliance

Industries

Ltd.

17,996

609,530

SBI

Cards

&

Payment

Services

Ltd.

(b)

1,090

15,358

SBI

Life

Insurance

Co.

Ltd.

(a)

1,979

30,275

Shree

Cement

Ltd.

54

20,650

Siemens

Ltd.

371

10,834

State

Bank

of

India

9,697

65,028

Sun

Pharmaceutical

Industries

Ltd.

6,218

66,015

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

India

–

13.5%

(continued)

Tata

Consultancy

Services

Ltd.

5,748

260,816

Tata

Consumer

Products

Ltd.

3,623

39,166

Tata

Motors

Ltd.

(b)

10,744

69,401

Tata

Motors

Ltd.,

Class

A

(b)

1,903

6,252

Tata

Steel

Ltd.

4,199

73,792

Tech

Mahindra

Ltd.

3,864

76,260

Titan

Co.

Ltd.

2,506

79,769

Ultratech

Cement

Ltd.

693

70,669

Vedanta

Ltd.

7,513

30,501

Wipro

Ltd.

8,043

69,467

5,174,008

Indonesia

–

1.5%

Astra

International

Tbk

PT

113,100

48,098

Bank

Central

Asia

Tbk

PT

319,000

168,310

Bank

Jago

TBK

PT

(b)

19,700

21,553

Bank

Mandiri

(Persero)

Tbk

PT

105,400

53,379

Bank

Negara

Indonesia

(Persero)

Tbk

PT

46,100

22,777

Bank

Rakyat

Indonesia

(Persero)

Tbk

PT

328,400

98,514

Bank

Syariah

Indonesia

TBK

PT

(b)

24,000

3,574

Barito

Pacific

Tbk

PT

179,700

11,860

Bukalapak.Com

PT

TBK

(b)

202,200

9,919

Chandra

Asri

Petrochemical

Tbk

PT

14,900

7,993

Charoen

Pokphand

Indonesia

Tbk

PT

42,800

18,730

Elang

Mahkota

Teknologi

TBK

PT

(b)

134,400

18,262

Gudang

Garam

Tbk

PT

1,000

2,365

Indofood

CBP

Sukses

Makmur

Tbk

PT

13,400

8,323

Telekomunikasi

Indonesia

(Persero)

Tbk

PT

278,500

74,699

Unilever

Indonesia

Tbk

PT

26,800

8,361

United

Tractors

Tbk

PT

6,400

10,638

587,355

Kuwait

–

0.7%

Agility

Public

Warehousing

Co.

Ksc

7,201

23,888

Boubyan

Bank

Kscp

(b)

5,250

13,619

Kuwait

Finance

House

Kscp

27,211

75,102

Mobile

Telecommunications

Co.

Kscp

4,414

8,727

National

Bank

of

Kuwait

Sakp

43,908

144,200

265,536

Malaysia

–

1.6%

Axiata

Group

BHD

28,900

27,567

CIMB

Group

Holdings

BHD

39,129

49,325

Digi.com

BHD

27,900

28,500

Genting

BHD

12,200

15,261

Hap

Seng

Consolidated

BHD

4,500

8,520

Hartalega

Holdings

BHD

12,900

18,255

Hong

Leong

Bank

BHD

4,100

18,634

Hong

Leong

Financial

Group

BHD

700

3,100

IHH

Healthcare

BHD

17,000

26,848

IOI

Corp.

BHD

19,400

18,411

Kuala

Lumpur

Kepong

BHD

3,600

18,795

Malayan

Banking

BHD

41,745

81,151

Maxis

BHD

15,100

17,029

MISC

BHD

7,600

12,976

Mr

DIY

Group

M

BHD

(a)

9,300

8,467

Nestle

Malaysia

BHD

400

12,992

Petronas

Chemicals

Group

BHD

16,800

35,255

Petronas

Dagangan

BHD

900

4,425

Petronas

Gas

BHD

4,600

18,595

PPB

Group

BHD

3,300

14,488

Press

Metal

Aluminium

Holdings

BHD

13,300

17,857

Public

Bank

BHD

82,700

83,279

RHB

Bank

BHD

11,939

16,088

58

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

Malaysia

–

1.6%

(continued)

Sime

Darby

Plantation

BHD

13,000

12,589

Telekom

Malaysia

BHD

11,900

16,639

Tenaga

Nasional

BHD

12,500

29,160

Top

Glove

Corp.

BHD

1,600

1,051

615,257

Mexico

–

1.6%

America

Movil

SAB

de

CV,

Series

L

139,000

124,026

Arca

Continental

SAB

de

CV

1,500

9,150

Becle

SAB

de

CV

600

1,373

Cemex

SAB

de

CV

(b)

78,600

50,811

Fomento

Economico

Mexicano

SAB

de

CV

10,200

84,195

Grupo

Bimbo

SAB

de

CV,

Series

A

5,100

15,194

Grupo

Carso

SAB

de

CV,

Series

A

2,200

7,442

Grupo

Elektra

SAB

de

CV

335

25,765

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

14,200

89,957

Grupo

Mexico

SAB

de

CV,

Series

B

18,900

83,004

Grupo

Televisa

Sab,

Series

C

13,600

27,580

Wal-Mart

de

Mexico

SAB

de

CV

27,800

97,069

615,566

Peru

–

0.1%

Credicorp

Ltd.

348

45,122

Philippines

–

0.7%

Ayala

Corp.

1,590

27,220

Ayala

Land,

Inc.

27,700

19,287

Bank

of

The

Philippine

Islands

9,940

17,145

BDO

Unibank,

Inc.

7,680

18,907

Globe

Telecom,

Inc.

220

13,075

International

Container

Terminal

Services,

Inc.

4,730

16,890

JG

Summit

Holdings,

Inc.

19,162

22,883

Manila

Electric

Co.

2,170

12,354

PLDT,

Inc.

380

12,378

San

Miguel

Corp.

2,550

5,913

San

Miguel

Food

and

Beverage,

Inc.

3,470

5,232

SM

Investments

Corp.

2,945

56,376

SM

Prime

Holdings,

Inc.

60,900

39,988

Universal

Robina

Corp.

5,400

14,783

282,431

Qatar

–

0.7%

Industries

Qatar

QSC

11,944

52,027

Masraf

Al

Rayan

QSC

20,421

26,781

Mesaieed

Petrochemical

Holding

Co.

15,374

10,134

Ooredoo

QPSC

2,891

5,495

Qatar

Islamic

Bank

SAQ

5,247

26,545

Qatar

National

Bank

QPSC

26,182

147,413

268,395

Russia

–

3.6%

Alrosa

PJSC

12,030

21,178

Gazprom

PJSC

68,420

337,408

LUKOIL

PJSC

2,071

211,284

MMC

Norilsk

Nickel

PJSC

338

105,390

Novatek

PJSC

5,535

140,276

Novolipetsk

Steel

PJSC

4,350

13,711

Polyus

PJSC

172

34,116

Rosneft

Oil

Co.

PJSC

13,131

117,799

Sberbank

of

Russia

PJSC

59,440

298,292

Severstal

PAO

697

15,824

Surgutneftegas

PJSC

31,300

15,045

Tatneft

PJSC

8,778

66,984

1,377,307

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

Saudi

Arabia

–

2.9%

Al

Rajhi

Bank

7,018

259,323

Almarai

Co.

JSC

1,573

22,185

Banque

Saudi

Fransi

3,115

35,087

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co.

441

19,493

Riyad

Bank

7,349

57,896

Sabic

Agri-Nutrients

Co.

1,119

48,926

Saudi

Arabian

Mining

Co.

(b)

2,361

51,363

Saudi

Arabian

Oil

Co.

(a)

10,370

104,366

Saudi

Basic

Industries

Corp.

4,886

168,038

Saudi

British

Bank

(The)

2,119

18,728

Saudi

Electricity

Co.

4,290

32,596

Saudi

National

Bank

(The)

11,439

200,973

Saudi

Telecom

Co.

3,520

109,798

1,128,772

South

Africa

–

2.5%

ABSA

Group

Ltd.

3,390

31,224

Anglo

American

Platinum

Ltd.

331

33,610

Bid

Corp.

Ltd.

1,930

41,627

Capitec

Bank

Holdings

Ltd.

446

50,080

Firstrand

Ltd.

29,247

111,620

Gold

Fields

Ltd.

5,475

51,620

Impala

Platinum

Holdings

Ltd.

4,725

61,546

Kumba

Iron

Ore

Ltd.

288

8,795

MTN

Group

Ltd.

(b)

10,227

92,164

Naspers

Ltd.,

Class

N

1,223

208,404

Northam

Platinum

Holdings

Ltd.

(b)

2,092

31,483

Sanlam

Ltd.

11,763

48,561

Sasol

Ltd.

(b)

3,219

54,344

Sibanye

Stillwater

Ltd.

15,100

52,989

Standard

Bank

Group

Ltd.

7,048

62,797

Vodacom

Group

Ltd.

3,507

31,282

972,146

South

Korea

–

12.9%

Amorepacific

Corp.

177

27,492

Celltrion

Healthcare

Co.

Ltd.

(b)

444

30,739

Celltrion,

Inc.

(b)

551

94,541

CJ

Cheiljedang

Corp.

38

12,357

Hana

Financial

Group,

Inc.

1,730

66,621

Hanon

Systems

946

11,657

Hanwha

Solutions

Corp.

(b)

604

21,115

Hmm

Co.

Ltd.

(b)

1,105

25,201

HYBE

Co.

Ltd.

(b)

101

28,955

Hyundai

Glovis

Co.

Ltd.

106

15,194

Hyundai

Mobis

Co.

Ltd.

335

72,243

Hyundai

Motor

Co.

797

141,865

Hyundai

Steel

Co.

346

13,161

Industrial

Bank

of

Korea

1,737

16,425

Kakao

Corp.

1,710

183,651

Kakaobank

Corp.

(b)

1,666

89,962

KB

Financial

Group,

Inc.

2,195

106,317

KIA

Corp.

1,526

111,131

Korea

Electric

Power

Corp.

1,037

20,056

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

(b)

251

22,124

Korea

Zinc

Co.

Ltd.

65

29,870

Korean

Air

Lines

Co.

Ltd.

(b)

755

19,674

Krafton,

Inc.

(b)

179

71,919

KT

Corp.

439

11,458

KT&G

Corp.

697

48,373

Kumho

Petrochemical

Co.

Ltd.

81

11,922

59

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

South

Korea

–

12.9%

(continued)

LG

Chem

Ltd.

259

185,293

LG

Corp.

612

47,764

LG

Display

Co.

Ltd.

(b)

1,322

22,287

LG

Electronics,

Inc.

558

57,541

LG

Household

&

Health

Care

Ltd.

51

51,107

LG

Uplus

Corp.

843

10,352

Lotte

Chemical

Corp.

81

15,562

Mirae

Asset

Securities

Co.

Ltd.

2,374

17,634

NAVER

Corp.

823

286,647

NCSoft

Corp.

91

48,827

Netmarble

Corp.

(a)

145

15,325

POSCO

437

110,694

POSCO

Chemical

Co.

Ltd.

162

20,171

Samsung

Biologics

Co.

Ltd.

(a),(b)

87

64,847

Samsung

C&T

Corp.

550

53,656

Samsung

Electro-Mechanics

Co.

Ltd.

333

45,310

Samsung

Electronics

Co.

Ltd.

28,628

1,710,012

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

181

35,780

Samsung

Life

Insurance

Co.

Ltd.

423

24,362

Samsung

SDI

Co.

Ltd.

301

189,067

Samsung

SDS

Co.

Ltd.

214

28,019

Shinhan

Financial

Group

Co.

Ltd.

2,929

95,875

SK

Biopharmaceuticals

Co.

Ltd.

(b)

170

13,762

SK

Bioscience

Co.

Ltd.

(b)

108

21,257

SK

Holdings

Co.

Ltd.

188

39,095

SK

Hynix,

Inc.

3,007

265,047

SK

Ie

Technology

Co.

Ltd.

(a),(b)

55

7,837

SK

Innovation

Co.

Ltd.

(b)

330

68,482

SK

Telecom

Co.

Ltd.

206

54,561

S-Oil

Corp.

231

20,262

Woori

Financial

Group,

Inc.

2,840

32,202

4,962,660

Taiwan

–

14.0%

Accton

Technology

Corp.

3,000

26,269

Advantech

Co.

Ltd.

2,299

30,010

ASE

Technology

Holding

Co.

Ltd.

18,000

64,599

Asia

Cement

Corp.

14,000

22,303

Asustek

Computer,

Inc.

4,000

50,776

AU

Optronics

Corp.

41,000

28,308

Catcher

Technology

Co.

Ltd.

4,000

23,158

Cathay

Financial

Holding

Co.

Ltd.

48,000

100,286

Chailease

Holding

Co.

Ltd.

7,644

73,118

Chang

Hwa

Commercial

Bank

Ltd.

25,926

15,290

Cheng

Shin

Rubber

Industry

Co.

Ltd.

14,000

17,167

China

Development

Financial

Holding

Corp.

81,000

41,361

China

Steel

Corp.

76,000

91,828

Chunghwa

Telecom

Co.

Ltd.

21,000

83,446

CTBC

Financial

Holding

Co.

Ltd.

110,000

91,770

Delta

Electronics,

Inc.

11,000

96,913

E.Sun

Financial

Holding

Co.

Ltd.

76,205

72,756

Evergreen

Marine

Corp.

Taiwan

Ltd.

15,000

53,671

Far

Eastern

New

Century

Corp.

22,000

23,022

Far

Eastone

Telecommunications

Co.

Ltd.

6,000

13,205

Feng

Tay

Enterprise

Co.

Ltd.

3,600

27,963

First

Financial

Holding

Co.

Ltd.

58,529

48,198

Formosa

Chemicals

&

Fibre

Corp.

24,000

69,475

Formosa

Petrochemical

Corp.

9,000

32,364

Formosa

Plastics

Corp.

25,000

96,643

Fubon

Financial

Holding

Co.

Ltd.

47,801

126,514

Globalwafers

Co.

Ltd.

1,000

27,330

Hon

Hai

Precision

Industry

Co.

Ltd.

71,000

273,190

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

Taiwan

–

14.0%

(continued)

Hotai

Motor

Co.

Ltd.

2,000

44,015

Hua

Nan

Financial

Holdings

Co.

Ltd.

45,589

33,362

Innolux

Corp.

10,000

6,005

Largan

Precision

Co.

Ltd.

152

11,315

MediaTek,

Inc.

9,000

295,485

Mega

Financial

Holding

Co.

Ltd.

66,000

79,271

Nan

Ya

Plastics

Corp.

27,000

82,626

Nan

Ya

Printed

Circuit

Board

Corp.

1,000

17,638

Nanya

Technology

Corp.

8,000

19,131

Novatek

Microelectronics

Corp.

3,000

44,824

Pegatron

Corp.

12,000

29,344

President

Chain

Store

Corp.

3,000

30,314

Quanta

Computer,

Inc.

18,000

50,488

Realtek

Semiconductor

Corp.

3,000

53,832

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

24,000

37,974

Taishin

Financial

Holding

Co.

Ltd.

62,036

40,713

Taiwan

Cement

Corp.

27,200

47,194

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

60,934

49,521

Taiwan

High

Speed

Rail

Corp.

11,000

11,491

Taiwan

Mobile

Co.

Ltd.

6,000

21,166

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

105,000

2,227,736

Uni-President

Enterprises

Corp.

29,000

69,454

United

Microelectronics

Corp.

66,000

137,656

Vanguard

International

Semiconductor

Corp.

5,000

25,981

Wan

HAI

Lines

Ltd.

6,600

37,974

Win

Semiconductors

Corp.

2,000

25,712

Yageo

Corp.

2,000

31,213

Yang

Ming

Marine

Transport

Corp.

(b)

5,000

17,351

Yuanta

Financial

Holding

Co.

Ltd.

68,640

60,967

5,360,686

Tanzania

–

0.1%

AngloGold

Ashanti

Ltd.

2,046

38,400

Thailand

–

1.5%

Advanced

INFO

Service

PCL,

NVDR

4,400

25,061

Airports

of

Thailand

PCL,

NVDR

22,600

43,930

Bangkok

Bank

PCL,

NVDR

4,100

15,136

Bangkok

Dusit

Medical

Services

PCL,

NVDR

28,100

19,900

Bank

of

Ayudhya

PCL,

NVDR

11,100

10,872

Central

Pattana

PCL,

NVDR

7,100

12,678

Central

Retail

Corp.

PCL,

NVDR

17,700

18,536

Charoen

Pokphand

Foods

PCL,

NVDR

26,200

19,937

CP

ALL

PCL,

NVDR

25,000

48,218

Delta

Electronics

Thailand

PCL,

NVDR

2,300

28,834

Energy

Absolute

PCL,

NVDR

9,900

19,542

Global

Power

Synergy

PCL,

NVDR

4,300

10,108

Gulf

Energy

Development

PCL,

NVDR

28,220

36,782

Home

Product

Center

PCL,

NVDR

25,000

11,000

Indorama

Ventures

PCL,

NVDR

13,900

17,594

Intouch

Holdings

PCL,

NVDR

8,500

19,276

Kasikornbank

PCL,

NVDR

5,700

24,221

Krung

Thai

Bank

PCL,

NVDR

21,500

7,451

Krungthai

Card

PCL,

NVDR

2,900

5,047

Minor

International

PCL,

NVDR

(b)

13,600

13,423

PTT

Exploration

&

Production

PCL,

NVDR

6,500

23,017

PTT

Global

Chemical

PCL,

NVDR

8,900

16,830

PTT

Oil

&

Retail

Business

PCL,

NVDR

4,500

3,729

PTT

PCL,

NVDR

49,400

56,572

Scg

Packaging

PCL,

NVDR

5,000

9,681

Siam

Cement

PCL

(The),

NVDR

1,700

20,236

60

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.9%

(continued)

Thailand

–

1.5%

(continued)

Siam

Commercial

Bank

PCL

(The),

NVDR

10,000

37,972

575,583

Turkey

–

0.2%

BIM

Birlesik

Magazalar

AS

1,842

11,906

Enka

Insaat

ve

Sanayi

AS

7,318

8,373

Eregli

Demir

ve

Celik

Fabrikalari

TAS

9,624

19,708

Ford

Otomotiv

Sanayi

AS

400

7,721

KOC

Holding

AS

5,791

14,202

Sasa

Polyester

Sanayi

As

(b)

1,695

5,472

67,382

United

Arab

Emirates

–

1.0%

Abu

Dhabi

Commercial

Bank

PJSC

14,062

31,775

Abu

Dhabi

National

Oil

Co.

For

Distribution

PJSC

19,093

22,248

Emirates

NBD

Bank

PJSC

13,186

50,078

Emirates

Telecommunications

Group

Co.

PJSC

9,400

65,513

First

Abu

Dhabi

Bank

PJSC

25,019

121,378

International

Holdings

Co.

PJSC

(b)

2,532

100,986

391,978

United

States

–

0.1%

JBS

SA

5,000

34,744

Total

Common

Stocks

(cost

$28,989,845)

37,614,139

Preferred

Stocks

–

2.3%

Brazil

–

1.1%

Banco

Bradesco

SA,

5.60%

28,050

99,272

Centrais

Eletricas

Brasileiras

SA,

Class

B,

6.13%

1,200

7,204

Gerdau

SA,

6.54%

7,200

34,550

Itau

Unibanco

Holding

SA,

2.97%

27,600

114,425

Itausa

-

Investimentos

Itau

SA,

2.99%

26,500

48,327

Petroleo

Brasileiro

SA,

8.58%

24,400

117,953

421,731

Chile

–

0.1%

Sociedad

Quimica

y

Minera

de

Chile

SA,

Class

B,

0.96%

780

42,475

Colombia

–

0.1%

Bancolombia

SA,

1.44%

2,458

21,892

Grupo

Aval

Acciones

y

Valores

SA,

4.87%

12,617

3,823

25,715

Russia

–

0.1%

Sberbank

of

Russia

PJSC,

5.63%

5,820

26,318

Surgutneftegas

PJSC,

17.40%

44,100

24,004

50,322

South

Korea

–

0.9%

Amorepacific

Corp.,

1.08%

24

1,479

CJ

Cheiljedang

Corp.,

2.06%

22

3,652

Hyundai

Motor

Co.,

4.13%

161

13,433

Hyundai

Motor

Co.,

4.14%

160

13,405

Hyundai

Motor

Co.,

4.32%

35

2,785

LG

Chem

Ltd.,

2.67%

52

17,066

LG

Corp.,

4.15%

64

3,686

LG

Electronics,

Inc.,

1.95%

157

8,612

LG

Household

&

Health

Care

Ltd.,

1.78%

13

6,664

Samsung

Electro-Mechanics

Co.

Ltd.,

1.53%

16

1,308

Samsung

Electronics

Co.

Ltd.,

4.56%

4,595

251,662

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.,

4.93%

24

3,625

Samsung

SDI

Co.

Ltd.,

0.28%

10

3,231

SK

Innovation

Co.

Ltd.,

3.49%

5

646

331,254

Total

Preferred

Stocks

(cost

$667,126)

871,497

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

0.0%

India

–

0.0%

Britannia

Industries

Ltd.,

Series

N3,

5.50%,

6/03/2024

19,575

261

Total

Corporate

Bonds

(cost

$269)

261

Description

Shares

Value

($)

Investment

Companies

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$14,285)

14,285

14,285

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.4%

Registered

Investment

Companies

–

0.4%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$151,079)

151,079

151,079

Total

Investments

(cost

$29,822,604)

100.6%

38,651,261

Liabilities,

Less

Cash

and

Receivables

(0.6)%

(240,122)

Net

Assets

100.0%

38,411,139

ADR—American

Depositary

Receipt

NVDR—Non-Voting

Depositary

Receipt

61

(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,

2021,

these

securities

were

valued

at

$2,209,995

or

5.75%

of

net

assets.

(b)

Non-income

producing

security.

(c)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$164,053

and

the

value

of

the

collateral

was

$200,688,

consisting

of

cash

collateral

of

$151,079

and

U.S.

Government

&

Agency

securities

valued

at

$49,609.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021

are

as

follows:

(e)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

28,912

12,695,130

(12,709,757)

—

—

14,285

0.0

23

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,827,114

10,957,792

(12,633,827)

—

—

151,079

0.4

957

2

Total

1,856,026

23,652,922

(25,343,584)

—

—

165,364

0.4

980

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

21.1

Information

Technology

20.1

Consumer

Discretionary

16.0

Communication

Services

11.7

Materials

8.0

Energy

6.3

Consumer

Staples

6.1

Health

Care

4.0

Industrials

3.5

Utilities

2.0

Real

Estate

1.4

Registered

Investment

Companies

0.4

100.6

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

Emerging

Markets

Index

1

12/17/2021

62,307

63,100

793

62

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

Core

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.2%

AmeriCredit

Automobile

Receivables

Trust,

Series

2021-1,

Class

A3,

0.37%,

8/18/2025

35,000

34,904

Capital

One

Multi-Asset

Execution

Trust,

Series

2019-A3,

Class

A3,

2.06%,

8/15/2028

40,000

41,429

Ford

Credit

Auto

Owner

Trust,

Series

2019-A,

Class

A4,

2.85%,

8/15/2024

100,000

102,450

GM

Financial

Leasing

Trust,

Series

2021-1,

Class

A3,

0.26%,

2/20/2024

66,000

65,890

Santander

Drive

Auto

Receivables

Trust,

Series

2021-2,

Class

A3,

0.34%,

2/18/2025

30,000

29,966

Toyota

Auto

Receivables

Owner

Trust

Series

2021-A,

Class

A3,

0.26%,

5/15/2025

40,000

39,815

Series

2020-D,

Class

A4,

0.47%,

1/15/2026

90,000

89,463

Verizon

Owner

Trust,

Series

2020-B,

Class

A,

0.47%,

2/20/2025

50,000

49,982

Total

Asset-Backed

Securities

(cost

$455,610)

453,899

Commercial

Mortgage-Backed

Securities

–

1.1%

Bank

Trust

Series

2019-BN21,

Class

A5,

2.85%,

10/17/2052

50,000

52,731

Series

2017-BNK6,

Class

A4,

3.25%,

7/15/2060

50,000

53,448

Series

2019-BN18,

Class

A4,

3.58%,

5/15/2062

45,000

49,610

Barclays

Commercial

Mortgage

Trust,

Series

2019-C4,

Class

A5,

2.92%,

8/15/2052

25,000

26,439

BBCMS

Mortgage

Trust

Series

2020-C6,

Class

A4,

2.64%,

2/15/2053

60,000

62,282

Series

2021-C9,

Class

A5,

2.30%,

2/15/2054

50,000

50,460

Benchmark

Mortgage

Trust

Series

2020-IG1,

Class

AS,

2.91%,

9/15/2043

50,000

52,157

Series

2018-B3,

Class

A3,

3.75%,

4/10/2051

175,000

185,293

Series

2021-B27,

Class

A5,

2.39%,

7/15/2054

120,000

122,061

COMM

Mortgage

Trust

Series

2015-CR26,

Class

A3,

3.36%,

10/10/2048

98,509

104,024

Series

2015-LC23,

Class

A4,

3.77%,

10/10/2048

50,000

54,144

CSAIL

Commercial

Mortgage

Trust

Series

2015-C4,

Class

C,

4.56%,

11/15/2048

108,000

114,463

Series

2018-CX11,

Class

A4,

3.77%,

4/15/2051

50,000

54,658

GS

Mortgage

Securities

Trust

Series

2017-GS8,

Class

A3,

3.21%,

11/10/2050

80,000

85,536

Series

2017-GS8,

Class

A4,

3.47%,

11/10/2050

25,000

27,124

JPMBB

Commercial

Mortgage

Securities

Trust,

Series

2014-C24,

Class

A4A1,

3.37%,

11/15/2047

100,000

104,354

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

Series

2014-C17,

Class

A5,

3.74%,

8/15/2047

35,000

37,130

Series

2016-C29,

Class

A4,

3.33%,

5/15/2049

150,000

160,253

Morgan

Stanley

Capital

I

Trust

Series

2016-UBS9,

Class

A4,

3.59%,

3/15/2049

50,000

53,849

Series

2020-L4,

Class

A3,

2.70%,

2/15/2053

100,000

104,093

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Commercial

Mortgage-Backed

Securities

–

1.1%

(continued)

UBS

Commercial

Mortgage

Trust

Series

2018-C8,

Class

A3,

3.72%,

2/15/2051

30,000

32,851

Series

2019-C16,

Class

A4,

3.60%,

4/15/2052

75,000

82,506

Wells

Fargo

Commercial

Mortgage

Trust

Series

2015-C28,

Class

A4,

3.54%,

5/15/2048

60,000

64,101

Series

2016-C34,

Class

AS,

3.48%,

6/15/2049

100,000

104,652

Series

2017-C41,

Class

A4,

3.47%,

11/15/2050

10,000

10,836

Series

2019-C50,

Class

A5,

3.73%,

5/15/2052

150,000

166,359

Series

2016-NXS5,

Class

A5,

3.37%,

1/15/2059

50,000

53,351

WFRBS

Commercial

Mortgage

Trust

Series

2014-C24,

Class

A5,

3.61%,

11/15/2047

30,000

31,829

Series

2014-C22,

Class

A5,

3.75%,

9/15/2057

10,000

10,631

Total

Commercial

Mortgage-Backed

Securities

(cost

$2,137,850)

2,111,225

Corporate

Bonds

–

26.3%

Basic

Materials

–

0.7%

Air

Products

&

Chemicals,

Inc.

2.05%,

5/15/2030

31,000

31,250

2.80%,

5/15/2050

10,000

10,255

BHP

Billiton

Finance

USA

Ltd.,

4.13%,

2/24/2042

35,000

41,658

Celulosa

Arauco

y

Constitucion

SA,

4.50%,

8/01/2024

75,000

79,875

Dow

Chemical

Co.

(The),

4.38%,

11/15/2042

20,000

23,788

DuPont

de

Nemours,

Inc.,

4.49%,

11/15/2025

15,000

16,694

Eastman

Chemical

Co.,

4.65%,

10/15/2044

50,000

59,977

Ecolab,

Inc.

4.80%,

3/24/2030

35,000

42,153

1.30%,

1/30/2031

20,000

18,727

2.13%,

8/15/2050

(a)

10,000

9,054

FMC

Corp.,

3.45%,

10/01/2029

50,000

53,815

Georgia-Pacific

LLC,

8.00%,

1/15/2024

25,000

28,808

Huntsman

International

LLC,

4.50%,

5/01/2029

10,000

11,234

International

Flavors

&

Fragrances,

Inc.,

5.00%,

9/26/2048

20,000

26,236

International

Paper

Co.

4.80%,

6/15/2044

50,000

63,588

5.15%,

5/15/2046

50,000

66,598

Kinross

Gold

Corp.,

5.95%,

3/15/2024

12,000

13,180

LYB

International

Finance

III

LLC

3.38%,

10/01/2040

20,000

20,712

3.80%,

10/01/2060

10,000

10,692

LyondellBasell

Industries

NV,

4.63%,

2/26/2055

10,000

12,369

Mosaic

Co.

(The)

4.25%,

11/15/2023

10,000

10,603

4.88%,

11/15/2041

10,000

11,939

Newmarket

Corp.,

2.70%,

3/18/2031

25,000

24,807

Newmont

Corp.,

4.88%,

3/15/2042

35,000

44,074

Nutrien

Ltd.

4.20%,

4/01/2029

20,000

22,681

2.95%,

5/13/2030

70,000

73,572

3.95%,

5/13/2050

15,000

17,535

Sherwin-Williams

Co.

(The),

4.00%,

12/15/2042

40,000

45,806

Southern

Copper

Corp.

3.88%,

4/23/2025

30,000

32,351

63

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Basic

Materials

–

0.7%

(continued)

5.88%,

4/23/2045

(a)

20,000

27,215

Suzano

Austria

GMBH

5.00%,

1/15/2030

20,000

21,542

Series

DM3N,

3.13%,

1/15/2032

130,000

122,679

Vale

Overseas

Ltd.

6.25%,

8/10/2026

80,000

92,856

3.75%,

7/08/2030

175,000

178,747

6.88%,

11/10/2039

5,000

6,626

1,373,696

Communications

–

2.9%

Alibaba

Group

Holding

Ltd.

4.00%,

12/06/2037

100,000

108,645

4.20%,

12/06/2047

50,000

55,885

3.25%,

2/09/2061

30,000

28,299

Alphabet,

Inc.

1.10%,

8/15/2030

24,000

22,537

2.05%,

8/15/2050

60,000

53,807

2.25%,

8/15/2060

10,000

8,982

Amazon.com,

Inc.

2.50%,

11/29/2022

25,000

25,429

0.80%,

6/03/2025

25,000

24,759

1.20%,

6/03/2027

100,000

98,291

1.65%,

5/12/2028

25,000

24,899

1.50%,

6/03/2030

25,000

24,183

2.88%,

5/12/2041

30,000

30,990

4.05%,

8/22/2047

35,000

43,055

2.70%,

6/03/2060

10,000

9,648

3.25%,

5/12/2061

10,000

10,888

America

Movil

SAB

de

CV

2.88%,

5/07/2030

225,000

233,507

6.13%,

3/30/2040

70,000

99,053

AT&T,

Inc.

2.63%,

12/01/2022

36,000

36,615

4.45%,

4/01/2024

24,000

25,821

3.40%,

5/15/2025

(a)

53,000

56,626

3.60%,

7/15/2025

15,000

16,133

4.13%,

2/17/2026

25,000

27,548

2.95%,

7/15/2026

50,000

52,959

3.80%,

2/15/2027

30,000

32,804

4.30%,

2/15/2030

25,000

28,393

2.75%,

6/01/2031

50,000

50,859

2.25%,

2/01/2032

50,000

48,118

2.55%,

12/01/2033

50,000

48,491

4.85%,

3/01/2039

35,000

42,090

3.50%,

6/01/2041

25,000

25,738

3.10%,

2/01/2043

40,000

38,697

4.85%,

7/15/2045

50,000

61,234

4.55%,

3/09/2049

50,000

59,264

3.50%,

9/15/2053

119,000

120,738

3.55%,

9/15/2055

50,000

50,651

3.80%,

12/01/2057

65,000

68,299

3.65%,

9/15/2059

50,000

50,821

3.85%,

6/01/2060

45,000

47,379

Baidu,

Inc.

3.88%,

9/29/2023

20,000

20,996

3.08%,

4/07/2025

20,000

20,809

4.13%,

6/30/2025

20,000

21,598

4.38%,

3/29/2028

190,000

210,583

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Communications

–

2.9%

(continued)

Bell

Telephone

Co.

of

Canada

Or

Bell

Canada

(The),

4.30%,

7/29/2049

25,000

30,689

Booking

Holdings,

Inc.,

3.65%,

3/15/2025

50,000

53,820

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.50%,

2/01/2024

25,000

26,812

4.91%,

7/23/2025

10,000

11,121

2.30%,

2/01/2032

45,000

42,640

3.50%,

6/01/2041

45,000

44,151

5.75%,

4/01/2048

50,000

63,820

4.80%,

3/01/2050

10,000

11,345

3.70%,

4/01/2051

15,000

14,703

6.83%,

10/23/2055

100,000

148,280

4.40%,

12/01/2061

10,000

10,602

Cisco

Systems,

Inc.,

2.95%,

2/28/2026

25,000

26,791

Comcast

Corp.

2.35%,

1/15/2027

45,000

46,630

3.55%,

5/01/2028

50,000

55,089

4.15%,

10/15/2028

25,000

28,517

4.60%,

10/15/2038

25,000

30,586

3.25%,

11/01/2039

25,000

26,351

3.75%,

4/01/2040

15,000

16,791

2.80%,

1/15/2051

20,000

19,265

4.95%,

10/15/2058

90,000

125,186

2.65%,

8/15/2062

50,000

44,937

Corning,

Inc.

3.90%,

11/15/2049

100,000

114,263

4.38%,

11/15/2057

35,000

42,773

5.85%,

11/15/2068

50,000

74,462

Deutsche

Telekom

International

Finance

BV,

8.75%,

6/15/2030

10,000

14,656

Discovery

Communications

LLC

3.95%,

3/20/2028

25,000

27,531

4.88%,

4/01/2043

25,000

29,690

4.00%,

9/15/2055

24,000

25,483

eBay,

Inc.,

3.65%,

5/10/2051

3,000

3,277

Fox

Corp.

4.71%,

1/25/2029

10,000

11,553

3.50%,

4/08/2030

(a)

10,000

10,846

Interpublic

Group

of

Cos.,

Inc.

(The),

3.38%,

3/01/2041

60,000

63,743

JD.com,

Inc.,

3.88%,

4/29/2026

50,000

53,622

Juniper

Networks,

Inc.

1.20%,

12/10/2025

10,000

9,864

3.75%,

8/15/2029

(a)

50,000

54,442

Motorola

Solutions,

Inc.

2.30%,

11/15/2030

45,000

43,917

5.50%,

9/01/2044

22,000

28,642

Omnicom

Group,

Inc.,

2.60%,

8/01/2031

25,000

25,187

Rogers

Communications,

Inc.,

2.90%,

11/15/2026

35,000

36,728

Telefonica

Emisiones

SA,

7.05%,

6/20/2036

30,000

42,908

TELUS

Corp.,

2.80%,

2/16/2027

40,000

41,968

Time

Warner

Cable

LLC

7.30%,

7/01/2038

10,000

14,358

6.75%,

6/15/2039

75,000

102,615

5.50%,

9/01/2041

25,000

30,541

T-Mobile

USA,

Inc.

1.50%,

2/15/2026

20,000

19,855

64

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Communications

–

2.9%

(continued)

3.75%,

4/15/2027

10,000

10,854

2.05%,

2/15/2028

30,000

29,734

3.88%,

4/15/2030

10,000

10,940

2.55%,

2/15/2031

20,000

19,848

4.38%,

4/15/2040

50,000

57,034

4.50%,

4/15/2050

10,000

11,819

TWDC

Enterprises

18

Corp.,

4.13%,

6/01/2044

15,000

17,903

VeriSign,

Inc.

5.25%,

4/01/2025

100,000

111,648

4.75%,

7/15/2027

35,000

36,697

Verizon

Communications,

Inc.

2.63%,

8/15/2026

30,000

31,407

1.75%,

1/20/2031

80,000

75,504

2.55%,

3/21/2031

150,000

151,260

2.36%,

3/15/2032

(b)

50,000

49,240

2.65%,

11/20/2040

20,000

18,933

3.40%,

3/22/2041

35,000

36,690

2.85%,

9/03/2041

50,000

48,843

3.85%,

11/01/2042

20,000

22,247

2.88%,

11/20/2050

55,000

52,440

2.99%,

10/30/2056

23,000

21,880

3.00%,

11/20/2060

10,000

9,472

3.70%,

3/22/2061

50,000

54,393

Viacomcbs,

Inc.,

5.85%,

9/01/2043

25,000

34,105

ViacomCBS,

Inc.

2.90%,

1/15/2027

37,000

38,912

4.38%,

3/15/2043

120,000

137,135

4.95%,

5/19/2050

(a)

10,000

12,628

Vodafone

Group

PLC

4.13%,

5/30/2025

54,000

59,175

4.38%,

5/30/2028

25,000

28,498

5.25%,

5/30/2048

10,000

13,205

Walt

Disney

Co.

(The)

3.70%,

10/15/2025

150,000

162,919

2.65%,

1/13/2031

50,000

51,865

3.50%,

5/13/2040

30,000

33,069

Weibo

Corp.,

3.50%,

7/05/2024

200,000

207,476

5,624,944

Consumer,

Cyclical

–

1.6%

American

Honda

Finance

Corp.

1.95%,

5/10/2023

65,000

66,315

0.88%,

7/07/2023

50,000

50,256

1.20%,

7/08/2025

20,000

19,951

Aptiv

Corp.,

4.15%,

3/15/2024

15,000

16,008

AutoNation,

Inc.,

4.75%,

6/01/2030

25,000

29,051

AutoZone,

Inc.,

3.25%,

4/15/2025

15,000

15,881

Choice

Hotels

International,

Inc.,

3.70%,

1/15/2031

50,000

53,340

Costco

Wholesale

Corp.,

3.00%,

5/18/2027

33,000

35,743

Cummins,

Inc.,

2.60%,

9/01/2050

50,000

48,077

D.R.

Horton,

Inc.,

5.75%,

8/15/2023

30,000

32,276

Darden

Restaurants,

Inc.,

4.55%,

2/15/2048

50,000

58,694

Delta

Air

Lines

Pass

Through

Trust,

Series

2019-

1,

Class

AA,

3.20%,

4/25/2024

50,000

52,032

Dollar

General

Corp.,

3.50%,

4/03/2030

10,000

10,894

General

Motors

Co.

6.60%,

4/01/2036

15,000

20,240

5.20%,

4/01/2045

50,000

62,187

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

General

Motors

Financial

Co.,

Inc.

3.70%,

5/09/2023

20,000

20,767

1.70%,

8/18/2023

10,000

10,143

4.00%,

10/06/2026

50,000

54,501

4.35%,

1/17/2027

20,000

22,086

2.35%,

1/08/2031

45,000

43,648

2.70%,

6/10/2031

50,000

49,511

Hasbro,

Inc.

3.55%,

11/19/2026

50,000

53,897

3.50%,

9/15/2027

25,000

26,929

3.90%,

11/19/2029

50,000

54,890

Home

Depot,

Inc.

(The)

3.35%,

9/15/2025

25,000

26,923

2.50%,

4/15/2027

55,000

57,741

0.90%,

3/15/2028

100,000

95,158

1.38%,

3/15/2031

61,000

57,334

3.50%,

9/15/2056

15,000

17,100

Hyatt

Hotels

Corp.

4.85%,

3/15/2026

50,000

55,119

4.38%,

9/15/2028

25,000

27,417

5.75%,

4/23/2030

25,000

30,033

Jetblue

Pass-Through

Trust,

Series

2020-1,

Class

A,

4.00%,

11/15/2032

38,691

42,210

Kohl's

Corp.,

3.38%,

5/01/2031

(a)

50,000

50,766

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

190,000

194,245

Lear

Corp.,

5.25%,

5/15/2049

(a)

50,000

63,543

Lowe's

Cos.,

Inc.

1.70%,

9/15/2028

75,000

73,582

1.70%,

10/15/2030

40,000

38,126

4.05%,

5/03/2047

10,000

11,670

3.00%,

10/15/2050

10,000

10,016

3.50%,

4/01/2051

30,000

32,765

Magna

International,

Inc.,

2.45%,

6/15/2030

20,000

20,308

Marriott

International,

Inc.

3.75%,

10/01/2025

100,000

107,206

Series

AA,

4.65%,

12/01/2028

50,000

56,714

McDonald's

Corp.

3.30%,

7/01/2025

60,000

64,065

2.63%,

9/01/2029

20,000

20,748

4.88%,

12/09/2045

30,000

39,126

4.45%,

3/01/2047

50,000

62,038

4.45%,

9/01/2048

40,000

50,197

MDC

Holdings,

Inc.,

6.00%,

1/15/2043

40,000

50,661

Mohawk

Industries,

Inc.,

3.63%,

5/15/2030

10,000

10,799

Nike,

Inc.

2.38%,

11/01/2026

40,000

41,981

3.25%,

3/27/2040

40,000

44,011

O'Reilly

Automotive,

Inc.,

1.75%,

3/15/2031

20,000

19,061

PACCAR

Financial

Corp.,

0.35%,

2/02/2024

50,000

49,533

Sands

China

Ltd.,

5.40%,

8/08/2028

50,000

54,088

Southwest

Airlines

Co.

5.25%,

5/04/2025

20,000

22,420

2.63%,

2/10/2030

5,000

5,055

Spirit

Airlines

Pass-Through

Trust,

Series

2015-

1,

Class

A,

4.10%,

4/01/2028

105,569

110,389

Starbucks

Corp.

2.00%,

3/12/2027

25,000

25,276

4.50%,

11/15/2048

25,000

31,365

65

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

4.45%,

8/15/2049

40,000

49,859

Steelcase,

Inc.,

5.13%,

1/18/2029

15,000

17,071

Stellantis

NV,

5.25%,

4/15/2023

15,000

15,932

Target

Corp.,

2.50%,

4/15/2026

50,000

52,827

Toyota

Motor

Corp.,

0.68%,

3/25/2024

50,000

49,783

Toyota

Motor

Credit

Corp.,

1.15%,

8/13/2027

20,000

19,436

United

Airlines

Pass-Through

Trust

Series

2012-1,

,

Class

A4.15%,

4/11/2024

14,541

15,217

Series

2013-1,

,

Class

A4.30%,

8/15/2025

32,648

34,663

Series

2018-1,

,

Class

AA3.50%,

3/01/2030

42,934

45,207

Walmart,

Inc.

3.40%,

6/26/2023

50,000

52,267

1.50%,

9/22/2028

50,000

49,443

2.38%,

9/24/2029

3,000

3,136

3.95%,

6/28/2038

10,000

12,064

2.50%,

9/22/2041

50,000

50,265

4.05%,

6/29/2048

10,000

12,838

Whirlpool

Corp.,

4.75%,

2/26/2029

10,000

11,619

3,167,733

Consumer,

Non-cyclical

–

4.5%

Abbott

Laboratories

3.40%,

11/30/2023

20,000

21,045

4.90%,

11/30/2046

20,000

27,790

AbbVie,

Inc.

3.85%,

6/15/2024

50,000

53,359

3.20%,

11/21/2029

20,000

21,392

4.05%,

11/21/2039

35,000

40,128

4.40%,

11/06/2042

45,000

53,972

4.25%,

11/21/2049

150,000

180,711

Advocate

Health

&

Hospitals

Corp.,

Series

2020,

2.21%,

6/15/2030

15,000

15,128

Aetna,

Inc.

2.75%,

11/15/2022

10,000

10,174

6.63%,

6/15/2036

50,000

71,578

4.75%,

3/15/2044

35,000

43,526

Ahold

Finance

USA

LLC,

6.88%,

5/01/2029

25,000

32,847

Altria

Group,

Inc.

4.40%,

2/14/2026

10,000

11,093

2.45%,

2/04/2032

10,000

9,479

5.80%,

2/14/2039

25,000

30,498

3.40%,

2/04/2041

50,000

46,673

4.50%,

5/02/2043

40,000

42,672

4.45%,

5/06/2050

15,000

15,961

4.00%,

2/04/2061

10,000

9,606

AmerisourceBergen

Corp.,

3.45%,

12/15/2027

50,000

53,916

Amgen,

Inc.

3.63%,

5/22/2024

50,000

53,068

2.30%,

2/25/2031

45,000

44,784

4.40%,

5/01/2045

25,000

30,159

4.56%,

6/15/2048

20,000

25,062

2.77%,

9/01/2053

10,000

9,442

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.,

4.90%,

2/01/2046

15,000

19,131

Anheuser-Busch

InBev

Finance,

Inc.,

4.00%,

1/17/2043

40,000

44,681

Anheuser-Busch

InBev

Worldwide,

Inc.

3.50%,

6/01/2030

110,000

120,458

4.90%,

1/23/2031

(a)

75,000

90,916

4.38%,

4/15/2038

25,000

29,413

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Non-cyclical

–

4.5%

(continued)

4.35%,

6/01/2040

100,000

118,048

4.95%,

1/15/2042

25,000

31,528

3.75%,

7/15/2042

30,000

32,841

5.80%,

1/23/2059

20,000

29,568

Anthem,

Inc.

3.30%,

1/15/2023

50,000

51,646

2.25%,

5/15/2030

10,000

9,957

6.38%,

6/15/2037

10,000

14,151

4.63%,

5/15/2042

35,000

43,027

4.65%,

8/15/2044

15,000

18,607

4.38%,

12/01/2047

10,000

12,320

3.60%,

3/15/2051

10,000

11,148

Archer-Daniels-Midland

Co.,

4.54%,

3/26/2042

87,000

111,595

Ascension

Health,

3.95%,

11/15/2046

25,000

31,126

AstraZeneca

Finance

LLC,

1.20%,

5/28/2026

75,000

74,361

AstraZeneca

PLC

3.50%,

8/17/2023

65,000

68,156

0.70%,

4/08/2026

90,000

87,297

Banner

Health,

2.34%,

1/01/2030

25,000

25,426

Baptist

Healthcare

System

Obligated

Group,

Series

20B,

3.54%,

8/15/2050

25,000

27,426

BAT

Capital

Corp.

3.22%,

8/15/2024

100,000

105,012

3.22%,

9/06/2026

40,000

42,044

4.39%,

8/15/2037

20,000

21,434

5.28%,

4/02/2050

50,000

57,682

BAT

International

Finance

PLC,

1.67%,

3/25/2026

30,000

29,655

Baxalta,

Inc.,

4.00%,

6/23/2025

15,000

16,291

Becton,

Dickinson

&

Co.

3.36%,

6/06/2024

50,000

52,720

3.73%,

12/15/2024

10,000

10,734

3.70%,

6/06/2027

10,000

10,916

3.79%,

5/20/2050

20,000

22,747

Biogen,

Inc.,

2.25%,

5/01/2030

25,000

24,609

Boston

Scientific

Corp.

3.85%,

5/15/2025

40,000

43,318

1.90%,

6/01/2025

10,000

10,182

2.65%,

6/01/2030

25,000

25,585

Bristol-Myers

Squibb

Co.

3.90%,

2/20/2028

10,000

11,241

1.45%,

11/13/2030

(a)

10,000

9,545

2.35%,

11/13/2040

20,000

19,012

4.55%,

2/20/2048

35,000

45,632

2.55%,

11/13/2050

20,000

19,105

California

Institute

of

Technology,

4.70%,

11/01/2111

25,000

36,650

Campbell

Soup

Co.

2.38%,

4/24/2030

29,000

28,993

3.13%,

4/24/2050

15,000

14,896

Cardinal

Health,

Inc.

3.08%,

6/15/2024

75,000

78,660

3.75%,

9/15/2025

100,000

108,044

4.60%,

3/15/2043

25,000

29,154

4.50%,

11/15/2044

40,000

45,426

Children's

Hospital

Medical

Center,

4.27%,

5/15/2044

45,000

56,779

Children's

Hospital

of

Philadelphia

(The),

Series

2020,

2.70%,

7/01/2050

10,000

9,985

66

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Non-cyclical

–

4.5%

(continued)

Cigna

Corp.

0.61%,

3/15/2024

50,000

49,621

4.13%,

11/15/2025

30,000

33,001

4.50%,

2/25/2026

5,000

5,568

3.40%,

3/01/2027

25,000

26,914

3.05%,

10/15/2027

50,000

53,308

2.38%,

3/15/2031

60,000

60,125

3.40%,

3/15/2051

25,000

26,406

Clorox

Co.

(The),

3.50%,

12/15/2024

47,000

50,330

Coca-Cola

Co.

(The)

1.45%,

6/01/2027

25,000

24,880

1.00%,

3/15/2028

20,000

19,131

2.13%,

9/06/2029

50,000

50,919

2.25%,

1/05/2032

25,000

25,227

3.00%,

3/05/2051

25,000

26,618

2.50%,

3/15/2051

35,000

33,904

Coca-Cola

Femsa

SAB

de

CV

2.75%,

1/22/2030

50,000

51,785

1.85%,

9/01/2032

108,000

102,119

Colgate-Palmolive

Co.,

3.70%,

8/01/2047

70,000

85,822

CommonSpirit

Health,

3.35%,

10/01/2029

60,000

63,857

Community

Health

Network,

Inc.,

Series

20-A,

3.10%,

5/01/2050

15,000

15,283

ConAgra

Brands,

Inc.

3.20%,

1/25/2023

6,000

6,149

4.30%,

5/01/2024

50,000

53,850

Constellation

Brands,

Inc.

4.65%,

11/15/2028

40,000

46,238

3.75%,

5/01/2050

15,000

16,636

CVS

Health

Corp.

2.63%,

8/15/2024

22,000

22,898

3.00%,

8/15/2026

10,000

10,614

3.63%,

4/01/2027

10,000

10,902

1.30%,

8/21/2027

20,000

19,388

4.30%,

3/25/2028

10,000

11,332

3.25%,

8/15/2029

30,000

32,045

3.75%,

4/01/2030

15,000

16,529

1.88%,

2/28/2031

45,000

43,077

5.05%,

3/25/2048

40,000

52,614

Danaher

Corp.,

2.60%,

10/01/2050

50,000

48,716

Emory

University,

Series

2020,

2.14%,

9/01/2030

15,000

15,092

Equifax,

Inc.,

2.60%,

12/15/2025

15,000

15,611

Fomento

Economico

Mexicano

SAB

de

CV,

3.50%,

1/16/2050

20,000

21,411

General

Mills,

Inc.

4.20%,

4/17/2028

25,000

28,306

2.88%,

4/15/2030

10,000

10,477

George

Washington

University

(The),

Series

2014,

4.30%,

9/15/2044

20,000

25,447

Georgetown

University

(The),

Series

B,

4.32%,

4/01/2049

20,000

25,253

Gilead

Sciences,

Inc.

3.50%,

2/01/2025

25,000

26,643

3.65%,

3/01/2026

40,000

43,340

2.95%,

3/01/2027

25,000

26,505

1.65%,

10/01/2030

25,000

23,903

2.80%,

10/01/2050

25,000

24,291

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Non-cyclical

–

4.5%

(continued)

GlaxoSmithKline

Capital,

Inc.

3.38%,

5/15/2023

40,000

41,735

6.38%,

5/15/2038

20,000

29,648

Global

Payments,

Inc.,

3.75%,

6/01/2023

20,000

20,787

Hackensack

Meridian

Health,

Inc.

Series

2020,

2.68%,

9/01/2041

45,000

44,661

4.50%,

7/01/2057

50,000

67,194

HCA,

Inc.

4.75%,

5/01/2023

150,000

158,548

5.00%,

3/15/2024

60,000

65,282

5.25%,

4/15/2025

10,000

11,209

4.13%,

6/15/2029

50,000

55,413

5.25%,

6/15/2049

5,000

6,461

Hershey

Co.

(The),

2.05%,

11/15/2024

40,000

41,346

Hormel

Foods

Corp.,

1.80%,

6/11/2030

40,000

39,195

Humana,

Inc.

2.90%,

12/15/2022

135,000

138,184

3.85%,

10/01/2024

30,000

32,203

Illumina,

Inc.,

2.55%,

3/23/2031

100,000

100,135

JM

Smucker

Co.

(The),

3.50%,

3/15/2025

40,000

42,850

Johnson

&

Johnson

2.63%,

1/15/2025

40,000

41,979

0.55%,

9/01/2025

10,000

9,819

1.30%,

9/01/2030

25,000

23,954

Kaiser

Foundation

Hospitals,

Series

2021,

3.00%,

6/01/2051

5,000

5,193

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

7,000

7,352

3.40%,

11/15/2025

20,000

21,438

4.60%,

5/25/2028

20,000

23,017

3.20%,

5/01/2030

25,000

26,541

3.80%,

5/01/2050

10,000

11,279

Kimberly-Clark

Corp.,

1.05%,

9/15/2027

45,000

43,602

Kroger

Co.

(The),

4.00%,

2/01/2024

50,000

53,085

Laboratory

Corp.

of

America

Holdings

2.30%,

12/01/2024

40,000

41,289

3.60%,

2/01/2025

10,000

10,649

2.95%,

12/01/2029

50,000

52,468

Mass

General

Brigham,

Inc.,

Series

2020,

3.19%,

7/01/2049

(a)

25,000

27,435

Massachusetts

Institute

of

Technology,

3.96%,

7/01/2038

25,000

29,703

McCormick

&

Co.,

Inc.

3.15%,

8/15/2024

10,000

10,558

0.90%,

2/15/2026

20,000

19,444

1.85%,

2/15/2031

15,000

14,392

McKesson

Corp.,

0.90%,

12/03/2025

20,000

19,539

Mead

Johnson

Nutrition

Co.,

5.90%,

11/01/2039

20,000

28,455

Medstar

Health,

Inc.,

Series

20A,

3.63%,

8/15/2049

25,000

27,838

Merck

&

Co.,

Inc.

2.90%,

3/07/2024

20,000

20,945

0.75%,

2/24/2026

15,000

14,693

3.90%,

3/07/2039

10,000

11,707

4.15%,

5/18/2043

65,000

79,337

Molson

Coors

Beverage

Co.,

5.00%,

5/01/2042

25,000

30,385

Mondelez

International,

Inc.,

2.63%,

9/04/2050

(a)

25,000

23,546

67

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Non-cyclical

–

4.5%

(continued)

Mount

Sinai

Hospitals

Group,

Inc.

Series

2017,

3.98%,

7/01/2048

20,000

23,119

Series

2019,

3.74%,

7/01/2049

25,000

27,702

Mylan,

Inc.

4.20%,

11/29/2023

25,000

26,446

4.55%,

4/15/2028

10,000

11,333

New

York

And

Presbyterian

Hospital

(The),

Series

2019,

3.95%,

8/01/2119

10,000

12,222

Novartis

Capital

Corp.

2.00%,

2/14/2027

50,000

51,129

3.10%,

5/17/2027

25,000

26,905

4.40%,

5/06/2044

70,000

89,615

NYU

Langone

Hospitals

4.78%,

7/01/2044

75,000

96,906

Series

2020,

3.38%,

7/01/2055

150,000

159,649

PayPal

Holdings,

Inc.,

1.35%,

6/01/2023

60,000

60,738

PeaceHealth

Obligated

Group,

Series

2020,

3.22%,

11/15/2050

10,000

10,615

PepsiCo,

Inc.

2.75%,

3/01/2023

11,000

11,333

2.38%,

10/06/2026

16,000

16,772

3.50%,

3/19/2040

20,000

22,817

2.88%,

10/15/2049

20,000

21,035

2.75%,

10/21/2051

10,000

10,326

PerkinElmer,

Inc.,

2.55%,

3/15/2031

50,000

50,656

Pfizer,

Inc.

3.60%,

9/15/2028

55,000

61,489

4.00%,

12/15/2036

20,000

23,702

2.55%,

5/28/2040

25,000

24,855

4.00%,

3/15/2049

25,000

30,865

Pharmacia

LLC,

6.60%,

12/01/2028

50,000

66,022

Philip

Morris

International,

Inc.

0.88%,

5/01/2026

50,000

48,578

4.13%,

3/04/2043

50,000

55,904

4.25%,

11/10/2044

15,000

17,302

Procter

&

Gamble

Co.

(The)

2.80%,

3/25/2027

35,000

37,313

3.00%,

3/25/2030

20,000

21,748

Quest

Diagnostics,

Inc.,

3.45%,

6/01/2026

50,000

53,907

Regeneron

Pharmaceuticals,

Inc.

1.75%,

9/15/2030

45,000

42,501

2.80%,

9/15/2050

50,000

47,174

Reynolds

American,

Inc.

6.15%,

9/15/2043

25,000

31,155

5.85%,

8/15/2045

100,000

122,779

S&P

Global,

Inc.,

1.25%,

8/15/2030

(a)

10,000

9,375

Sharp

Healthcare,

Series

20B,

2.68%,

8/01/2050

45,000

44,244

Shire

Acquisitions

Investments

Ireland

DAC,

3.20%,

9/23/2026

25,000

26,596

Smith

&

Nephew

PLC,

2.03%,

10/14/2030

45,000

43,716

Stryker

Corp.,

3.38%,

11/01/2025

40,000

43,013

Sutter

Health

Series

20A,

3.16%,

8/15/2040

40,000

41,561

Series

2018,

4.09%,

8/15/2048

100,000

121,438

SYSCO

Corp.

4.85%,

10/01/2045

15,000

19,093

3.30%,

2/15/2050

20,000

20,909

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Consumer,

Non-cyclical

–

4.5%

(continued)

Takeda

Pharmaceutical

Co.

Ltd.,

4.40%,

11/26/2023

50,000

53,516

Texas

Health

Resources,

4.33%,

11/15/2055

35,000

46,320

Thermo

Fisher

Scientific,

Inc.,

2.95%,

9/19/2026

10,000

10,632

Toledo

Hospital

(The)

Series

B,

5.33%,

11/15/2028

50,000

56,557

6.02%,

11/15/2048

50,000

61,303

Trinity

Health

Corp.,

Series

2021,

2.63%,

12/01/2040

45,000

44,687

Trustees

of

The

University

of

Pennsylvania

(The),

3.61%,

2/15/2119

10,000

11,758

UnitedHealth

Group,

Inc.

2.75%,

2/15/2023

50,000

51,168

3.10%,

3/15/2026

40,000

42,940

2.88%,

8/15/2029

25,000

26,595

2.30%,

5/15/2031

10,000

10,121

6.50%,

6/15/2037

50,000

74,220

3.05%,

5/15/2041

10,000

10,432

4.63%,

11/15/2041

17,000

21,408

4.25%,

6/15/2048

10,000

12,524

4.45%,

12/15/2048

10,000

12,912

3.25%,

5/15/2051

10,000

10,842

3.88%,

8/15/2059

15,000

18,047

University

of

Notre

Dame

du

Lac,

Series

2015,

3.44%,

2/15/2045

50,000

58,552

University

of

Southern

California,

5.25%,

10/01/2111

50,000

82,822

Utah

Acquisition

Sub,

Inc.,

3.95%,

6/15/2026

10,000

10,878

Viatris,

Inc.,

4.00%,

6/22/2050

10,000

10,735

William

Marsh

Rice

University,

3.57%,

5/15/2045

15,000

17,160

Wyeth

LLC,

6.50%,

2/01/2034

25,000

35,726

Zimmer

Biomet

Holdings,

Inc.

3.70%,

3/19/2023

10,000

10,380

3.05%,

1/15/2026

15,000

15,848

Zoetis,

Inc.,

3.90%,

8/20/2028

40,000

44,806

8,796,965

Energy

–

2.2%

Boardwalk

Pipelines

LP

5.95%,

6/01/2026

50,000

58,076

3.40%,

2/15/2031

15,000

15,607

BP

Capital

Markets

America,

Inc.

3.79%,

2/06/2024

10,000

10,634

3.80%,

9/21/2025

10,000

10,913

3.12%,

5/04/2026

25,000

26,738

3.59%,

4/14/2027

30,000

32,724

3.63%,

4/06/2030

10,000

11,076

1.75%,

8/10/2030

(a)

10,000

9,676

2.77%,

11/10/2050

65,000

61,641

2.94%,

6/04/2051

10,000

9,747

BP

Capital

Markets

PLC,

3.51%,

3/17/2025

35,000

37,586

Canadian

Natural

Resources

Ltd.

2.95%,

7/15/2030

136,000

139,971

7.20%,

1/15/2032

15,000

20,170

Cenovus

Energy,

Inc.

5.25%,

6/15/2037

50,000

60,110

6.75%,

11/15/2039

5,000

6,860

68

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Energy

–

2.2%

(continued)

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

10,000

11,198

Chevron

Corp.,

1.14%,

5/11/2023

100,000

100,939

Chevron

USA,

Inc.

0.43%,

8/11/2023

60,000

59,890

2.34%,

8/12/2050

15,000

14,112

CNOOC

Petroleum

North

America

Ulc,

6.40%,

5/15/2037

20,000

26,715

ConocoPhillips

2.40%,

2/15/2031

(b)

100,000

100,948

4.85%,

8/15/2048

(b)

10,000

13,328

ConocoPhillips

Co.,

4.95%,

3/15/2026

20,000

22,736

Devon

Energy

Corp.,

4.75%,

5/15/2042

25,000

28,958

Diamondback

Energy,

Inc.,

3.25%,

12/01/2026

115,000

121,617

Enbridge,

Inc.,

4.25%,

12/01/2026

25,000

27,818

Energy

Transfer

LP

4.25%,

3/15/2023

15,000

15,555

4.25%,

4/01/2024

50,000

53,089

2.90%,

5/15/2025

75,000

78,344

3.90%,

7/15/2026

50,000

54,055

5.50%,

6/01/2027

50,000

57,924

5.35%,

5/15/2045

50,000

59,218

Enterprise

Products

Operating

LLC

4.45%,

2/15/2043

40,000

45,938

4.85%,

3/15/2044

30,000

36,338

4.25%,

2/15/2048

75,000

85,665

3.95%,

1/31/2060

10,000

10,954

EOG

Resources,

Inc.,

4.15%,

1/15/2026

50,000

55,242

Equinor

ASA

2.65%,

1/15/2024

10,000

10,397

3.70%,

3/01/2024

15,000

15,988

3.25%,

11/10/2024

25,000

26,653

1.75%,

1/22/2026

20,000

20,293

3.00%,

4/06/2027

50,000

53,234

4.25%,

11/23/2041

70,000

86,016

Exxon

Mobil

Corp.

2.73%,

3/01/2023

25,000

25,644

2.28%,

8/16/2026

40,000

41,592

2.61%,

10/15/2030

25,000

26,023

4.23%,

3/19/2040

25,000

29,856

3.10%,

8/16/2049

10,000

10,389

4.33%,

3/19/2050

85,000

107,031

3.45%,

4/15/2051

25,000

27,718

Halliburton

Co.

3.50%,

8/01/2023

15,000

15,627

4.85%,

11/15/2035

30,000

35,663

4.50%,

11/15/2041

25,000

28,157

5.00%,

11/15/2045

10,000

12,418

Hess

Corp.

3.50%,

7/15/2024

(a)

10,000

10,515

7.88%,

10/01/2029

50,000

67,896

7.30%,

8/15/2031

25,000

33,651

6.00%,

1/15/2040

25,000

32,498

HollyFrontier

Corp.

2.63%,

10/01/2023

25,000

25,706

4.50%,

10/01/2030

75,000

81,769

Kinder

Morgan

Energy

Partners

LP

4.30%,

5/01/2024

40,000

42,893

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Energy

–

2.2%

(continued)

5.00%,

8/15/2042

35,000

41,446

Kinder

Morgan,

Inc.

4.30%,

3/01/2028

55,000

61,847

3.25%,

8/01/2050

10,000

9,663

3.60%,

2/15/2051

20,000

20,331

Magellan

Midstream

Partners

LP,

4.25%,

9/15/2046

50,000

57,121

Marathon

Oil

Corp.

6.80%,

3/15/2032

50,000

65,257

6.60%,

10/01/2037

25,000

33,656

Marathon

Petroleum

Corp.

6.50%,

3/01/2041

10,000

13,898

4.75%,

9/15/2044

50,000

58,870

4.50%,

4/01/2048

10,000

11,668

MPLX

LP

4.88%,

6/01/2025

75,000

83,031

1.75%,

3/01/2026

15,000

14,936

5.50%,

2/15/2049

25,000

32,233

4.90%,

4/15/2058

10,000

11,888

NOV,

Inc.,

3.60%,

12/01/2029

20,000

21,071

ONEOK

Partners

LP,

6.20%,

9/15/2043

15,000

19,711

ONEOK,

Inc.

4.35%,

3/15/2029

25,000

27,825

6.35%,

1/15/2031

50,000

63,567

Phillips

66

3.90%,

3/15/2028

20,000

22,062

2.15%,

12/15/2030

5,000

4,835

Phillips

66

Partners

LP

2.45%,

12/15/2024

50,000

51,574

3.55%,

10/01/2026

50,000

53,636

Pioneer

Natural

Resources

Co.

0.75%,

1/15/2024

50,000

49,698

2.15%,

1/15/2031

50,000

48,321

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

3.80%,

9/15/2030

50,000

52,850

5.15%,

6/01/2042

40,000

45,169

Sabine

Pass

Liquefaction

LLC,

5.00%,

3/15/2027

15,000

17,023

Schlumberger

Investment

SA,

2.65%,

6/26/2030

45,000

46,164

Shell

International

Finance

BV

4.38%,

5/11/2045

60,000

75,099

3.75%,

9/12/2046

35,000

40,681

3.13%,

11/07/2049

35,000

37,274

Spectra

Energy

Partners

LP,

4.50%,

3/15/2045

20,000

23,721

Suncor

Energy,

Inc.,

3.75%,

3/04/2051

35,000

38,212

Texas

Eastern

Transmission

LP,

7.00%,

7/15/2032

25,000

34,282

TotalEnergies

Capital

Canada

Ltd.,

2.75%,

7/15/2023

165,000

171,091

TotalEnergies

Capital

International

SA

2.43%,

1/10/2025

10,000

10,370

3.46%,

2/19/2029

10,000

11,019

TransCanada

PipeLines

Ltd.

4.88%,

1/15/2026

25,000

28,233

4.63%,

3/01/2034

40,000

46,950

69

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Energy

–

2.2%

(continued)

Transcontinental

Gas

Pipe

Line

Co.

LLC

3.25%,

5/15/2030

15,000

15,890

4.45%,

8/01/2042

35,000

41,525

Valero

Energy

Corp.

3.40%,

9/15/2026

40,000

42,774

4.00%,

4/01/2029

20,000

21,950

Williams

Cos.,

Inc.

(The)

6.30%,

4/15/2040

30,000

40,844

5.75%,

6/24/2044

15,000

19,749

4.90%,

1/15/2045

50,000

60,821

4,259,573

Financial

–

8.3%

Air

Lease

Corp.

2.25%,

1/15/2023

50,000

50,912

0.70%,

2/15/2024

20,000

19,771

3.63%,

12/01/2027

50,000

53,068

3.00%,

2/01/2030

25,000

25,331

Aircastle

Ltd.,

5.00%,

4/01/2023

15,000

15,837

Alexandria

Real

Estate

Equities,

Inc.,

3.00%,

5/18/2051

20,000

19,978

Alleghany

Corp.,

3.63%,

5/15/2030

50,000

54,628

Allstate

Corp.

(The),

Series

B,

5.75%,

8/15/2053

25,000

26,547

Ally

Financial,

Inc.

3.88%,

5/21/2024

125,000

133,253

8.00%,

11/01/2031

60,000

84,064

American

Express

Co.

3.70%,

8/03/2023

22,000

23,120

3.40%,

2/22/2024

50,000

52,773

4.20%,

11/06/2025

25,000

27,773

American

Financial

Group,

Inc.,

4.50%,

6/15/2047

25,000

31,170

American

International

Group,

Inc.

2.50%,

6/30/2025

47,000

48,831

6.25%,

5/01/2036

50,000

68,949

4.50%,

7/16/2044

20,000

24,395

4.38%,

1/15/2055

25,000

31,321

American

Tower

Corp.

3.50%,

1/31/2023

25,000

25,887

2.40%,

3/15/2025

50,000

51,589

1.60%,

4/15/2026

15,000

14,929

3.95%,

3/15/2029

25,000

27,619

2.10%,

6/15/2030

25,000

24,276

1.88%,

10/15/2030

(a)

25,000

23,783

2.70%,

4/15/2031

25,000

25,455

3.70%,

10/15/2049

10,000

10,927

3.10%,

6/15/2050

10,000

9,932

Ameriprise

Financial,

Inc.

3.70%,

10/15/2024

25,000

26,991

3.00%,

4/02/2025

10,000

10,542

AON

Corp.

2.20%,

11/15/2022

50,000

50,831

2.80%,

5/15/2030

55,000

57,016

Ares

Capital

Corp.,

3.88%,

1/15/2026

10,000

10,609

Arthur

J

Gallagher

&

Co.,

3.50%,

5/20/2051

10,000

10,916

Assurant,

Inc.,

3.70%,

2/22/2030

50,000

53,600

Athene

Holding

Ltd.,

3.95%,

5/25/2051

30,000

33,465

AvalonBay

Communities,

Inc.

2.30%,

3/01/2030

10,000

10,137

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

2.45%,

1/15/2031

20,000

20,473

Axis

Specialty

Finance

LLC,

3.90%,

7/15/2029

15,000

16,526

Bain

Capital

Specialty

Finance,

Inc.,

2.95%,

3/10/2026

65,000

65,603

Banco

Santander

SA,

2.75%,

12/03/2030

200,000

196,853

Bancorpsouth

Bank,

4.13%,

11/20/2029

100,000

104,874

Bank

of

America

Corp.

3.30%,

1/11/2023

29,000

29,964

4.13%,

1/22/2024

25,000

26,793

3.55%,

3/05/2024

25,000

25,928

4.00%,

4/01/2024

50,000

53,653

3.86%,

7/23/2024

25,000

26,252

0.81%,

10/24/2024

50,000

49,917

4.00%,

1/22/2025

20,000

21,555

3.46%,

3/15/2025

100,000

105,379

3.37%,

1/23/2026

50,000

53,033

2.02%,

2/13/2026

35,000

35,642

Series

G,

4.45%,

3/03/2026

50,000

55,405

3.50%,

4/19/2026

45,000

48,578

1.32%,

6/19/2026

10,000

9,920

6.22%,

9/15/2026

50,000

59,893

1.20%,

10/24/2026

35,000

34,398

3.56%,

4/23/2027

20,000

21,489

Series

L,

4.18%,

11/25/2027

30,000

33,038

3.71%,

4/24/2028

45,000

48,786

3.59%,

7/21/2028

50,000

54,111

4.27%,

7/23/2029

50,000

56,166

3.97%,

2/07/2030

50,000

55,528

3.19%,

7/23/2030

50,000

52,941

2.88%,

10/22/2030

50,000

51,713

1.90%,

7/23/2031

5,000

4,777

1.92%,

10/24/2031

25,000

23,837

2.69%,

4/22/2032

15,000

15,202

2.57%,

10/20/2032

20,000

20,065

4.24%,

4/24/2038

50,000

58,798

4.08%,

4/23/2040

15,000

17,357

2.68%,

6/19/2041

10,000

9,628

4.44%,

1/20/2048

50,000

63,074

4.33%,

3/15/2050

130,000

161,412

4.08%,

3/20/2051

35,000

42,217

2.97%,

7/21/2052

10,000

10,100

Bank

of

Montreal

0.45%,

12/08/2023

35,000

34,836

0.95%,

1/22/2027

20,000

19,470

4.34%,

10/05/2028

65,000

69,026

Bank

of

Nova

Scotia

(The)

0.40%,

9/15/2023

70,000

69,635

3.40%,

2/11/2024

50,000

52,776

0.70%,

4/15/2024

20,000

19,875

4.50%,

12/16/2025

20,000

22,250

1.30%,

9/15/2026

75,000

73,730

Berkshire

Hathaway

Finance

Corp.

4.20%,

8/15/2048

10,000

12,366

4.25%,

1/15/2049

25,000

31,203

Berkshire

Hathaway,

Inc.

2.75%,

3/15/2023

50,000

51,371

4.50%,

2/11/2043

25,000

31,367

BlackRock,

Inc.,

2.40%,

4/30/2030

50,000

51,506

Boston

Properties

LP,

4.50%,

12/01/2028

75,000

85,664

Brighthouse

Financial,

Inc.,

5.63%,

5/15/2030

70,000

84,017

70

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

Brixmor

Operating

Partnership

LP,

3.85%,

2/01/2025

10,000

10,715

Brookfield

Finance

LLC,

3.45%,

4/15/2050

60,000

63,034

Brookfield

Finance,

Inc.,

3.90%,

1/25/2028

50,000

55,231

Brown

&

Brown,

Inc.,

2.38%,

3/15/2031

50,000

49,341

Camden

Property

Trust,

3.35%,

11/01/2049

50,000

55,560

Canadian

Imperial

Bank

of

Commerce,

3.10%,

4/02/2024

50,000

52,578

Capital

One

Financial

Corp.

3.90%,

1/29/2024

25,000

26,542

3.75%,

4/24/2024

50,000

53,174

3.20%,

2/05/2025

20,000

21,178

4.20%,

10/29/2025

75,000

82,061

3.65%,

5/11/2027

40,000

43,506

Charles

Schwab

Corp.

(The)

3.00%,

3/10/2025

50,000

52,805

4.20%,

3/24/2025

25,000

27,406

2.75%,

10/01/2029

50,000

52,481

Chubb

INA

Holdings,

Inc.,

3.35%,

5/03/2026

15,000

16,218

CI

Financial

Corp.,

4.10%,

6/15/2051

50,000

54,912

Citigroup,

Inc.

3.50%,

5/15/2023

10,000

10,417

3.88%,

10/25/2023

50,000

53,123

1.68%,

5/15/2024

108,000

109,577

4.04%,

6/01/2024

10,000

10,515

3.35%,

4/24/2025

22,000

23,171

5.50%,

9/13/2025

75,000

85,574

3.11%,

4/08/2026

15,000

15,798

4.45%,

9/29/2027

25,000

28,003

6.63%,

1/15/2028

(a)

100,000

126,750

3.98%,

3/20/2030

20,000

22,213

2.98%,

11/05/2030

23,000

23,946

4.41%,

3/31/2031

15,000

17,196

6.63%,

6/15/2032

45,000

60,126

5.88%,

2/22/2033

40,000

51,303

6.68%,

9/13/2043

50,000

76,421

4.75%,

5/18/2046

15,000

19,032

4.65%,

7/23/2048

30,000

39,375

CNO

Financial

Group,

Inc.,

5.25%,

5/30/2029

150,000

175,077

Comerica,

Inc.,

3.70%,

7/31/2023

62,000

65,015

Corporate

Office

Properties

LP,

2.00%,

1/15/2029

50,000

48,404

Credit

Suisse

AG,

1.00%,

5/05/2023

20,000

20,103

Credit

Suisse

Group

AG

3.80%,

6/09/2023

75,000

78,500

4.88%,

5/15/2045

50,000

63,509

Crown

Castle

International

Corp.

4.45%,

2/15/2026

25,000

27,660

2.90%,

4/01/2041

60,000

57,927

5.20%,

2/15/2049

15,000

19,655

4.00%,

11/15/2049

75,000

83,983

4.15%,

7/01/2050

15,000

17,335

Cyrusone

LP

/

Cyrusone

Finance

Corp.,

3.45%,

11/15/2029

100,000

104,679

Deutsche

Bank

AG

3.70%,

5/30/2024

50,000

52,906

4.10%,

1/13/2026

25,000

27,002

4.10%,

1/13/2026

15,000

16,220

Digital

Realty

Trust

LP,

4.45%,

7/15/2028

25,000

28,537

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

Discover

Financial

Services,

4.10%,

2/09/2027

40,000

43,992

Equinix,

Inc.

2.63%,

11/18/2024

22,000

22,850

2.90%,

11/18/2026

20,000

20,994

ERP

Operating

LP

3.38%,

6/01/2025

25,000

26,652

3.00%,

7/01/2029

20,000

21,238

Essex

Portfolio

LP,

2.65%,

9/01/2050

50,000

46,016

Fidelity

National

Financial,

Inc.,

3.40%,

6/15/2030

85,000

90,626

Fifth

Third

Bancorp

3.65%,

1/25/2024

25,000

26,453

2.38%,

1/28/2025

50,000

51,605

2.55%,

5/05/2027

40,000

41,500

FS

KKR

Capital

Corp.

4.63%,

7/15/2024

25,000

26,699

4.13%,

2/01/2025

10,000

10,564

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

5.25%,

6/01/2025

20,000

22,209

5.38%,

4/15/2026

15,000

16,930

Goldman

Sachs

BDC,

Inc.,

3.75%,

2/10/2025

100,000

105,300

Goldman

Sachs

Group,

Inc.

(The)

4.00%,

3/03/2024

25,000

26,699

3.50%,

4/01/2025

15,000

16,005

4.25%,

10/21/2025

70,000

76,757

1.09%,

12/09/2026

10,000

9,762

5.95%,

1/15/2027

100,000

119,136

3.85%,

1/26/2027

125,000

135,329

1.43%,

3/09/2027

10,000

9,842

1.54%,

9/10/2027

10,000

9,831

1.95%,

10/21/2027

25,000

25,071

4.22%,

5/01/2029

20,000

22,403

2.62%,

4/22/2032

25,000

25,071

Series

D,

2.38%,

7/21/2032

20,000

19,661

2.65%,

10/21/2032

20,000

20,121

6.75%,

10/01/2037

30,000

42,822

3.21%,

4/22/2042

30,000

31,094

2.91%,

7/21/2042

5,000

4,981

Golub

Capital

BDC,

Inc.,

3.38%,

4/15/2024

45,000

46,585

Healthcare

Trust

of

America

Holdings

LP,

3.50%,

8/01/2026

5,000

5,356

HSBC

Holdings

PLC

3.03%,

11/22/2023

75,000

76,832

6.80%,

6/01/2038

162,000

232,049

Intercontinental

Exchange,

Inc.

3.75%,

12/01/2025

50,000

54,429

3.10%,

9/15/2027

15,000

16,023

2.65%,

9/15/2040

30,000

28,875

4.25%,

9/21/2048

10,000

12,046

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

25,000

25,829

3.63%,

5/13/2024

20,000

21,367

0.65%,

9/16/2024

50,000

49,912

4.02%,

12/05/2024

100,000

106,311

0.56%,

2/16/2025

20,000

19,796

2.08%,

4/22/2026

15,000

15,299

3.20%,

6/15/2026

45,000

48,025

7.63%,

10/15/2026

50,000

63,712

4.13%,

12/15/2026

50,000

55,405

71

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

1.04%,

2/04/2027

25,000

24,280

8.00%,

4/29/2027

100,000

130,738

1.05%,

6/23/2027

25,000

23,818

4.45%,

12/05/2029

50,000

56,995

2.74%,

10/15/2030

35,000

35,941

4.49%,

3/24/2031

30,000

34,745

1.76%,

11/19/2031

25,000

23,667

5.50%,

10/15/2040

85,000

115,312

3.11%,

4/22/2041

35,000

36,246

2.53%,

11/19/2041

50,000

47,535

4.26%,

2/22/2048

150,000

183,565

3.11%,

4/22/2051

50,000

51,805

3.33%,

4/22/2052

40,000

43,169

Keybank

NA,

1.25%,

3/10/2023

50,000

50,497

KeyCorp

2.25%,

4/06/2027

40,000

40,906

4.10%,

4/30/2028

50,000

56,668

Kimco

Realty

Corp.,

3.30%,

2/01/2025

10,000

10,580

Kite

Realty

Group

LP,

4.00%,

10/01/2026

15,000

15,974

Kreditanstalt

Fuer

Wiederaufbau

0.25%,

10/19/2023

70,000

69,605

2.63%,

2/28/2024

50,000

52,274

0.25%,

3/08/2024

150,000

148,586

0.38%,

7/18/2025

5,000

4,887

0.63%,

1/22/2026

195,000

190,954

0.75%,

9/30/2030

50,000

46,658

Landwirtschaftliche

Rentenbank

2.00%,

1/13/2025

50,000

51,747

2.38%,

6/10/2025

40,000

41,976

Lifestorage

LP,

3.50%,

7/01/2026

40,000

43,164

Lincoln

National

Corp.,

3.05%,

1/15/2030

25,000

26,368

Manulife

Financial

Corp.,

5.38%,

3/04/2046

100,000

142,357

Marsh

&

McLennan

Cos.,

Inc.

2.25%,

11/15/2030

50,000

49,973

4.75%,

3/15/2039

25,000

31,679

Mastercard,

Inc.

3.30%,

3/26/2027

15,000

16,293

3.85%,

3/26/2050

10,000

12,111

MetLife,

Inc.

3.60%,

4/10/2024

42,000

44,778

4.05%,

3/01/2045

15,000

18,079

MID-America

Apartments

LP,

1.10%,

9/15/2026

50,000

48,737

Mitsubishi

UFJ

Financial

Group,

Inc.

3.96%,

3/02/2028

100,000

111,444

3.20%,

7/18/2029

75,000

79,545

Mizuho

Financial

Group,

Inc.,

4.25%,

9/11/2029

75,000

84,371

Morgan

Stanley

3.13%,

1/23/2023

75,000

77,323

3.75%,

2/25/2023

25,000

26,024

4.10%,

5/22/2023

15,000

15,764

Series

F,

3.88%,

4/29/2024

100,000

106,768

4.00%,

7/23/2025

25,000

27,280

5.00%,

11/24/2025

50,000

56,331

3.13%,

7/27/2026

50,000

53,109

0.99%,

12/10/2026

45,000

43,710

3.95%,

4/23/2027

50,000

54,884

1.51%,

7/20/2027

15,000

14,756

3.59%,

7/22/2028

45,000

48,691

Series

G,

3.77%,

1/24/2029

50,000

54,874

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

4.43%,

1/23/2030

25,000

28,601

3.62%,

4/01/2031

45,000

49,118

1.93%,

4/28/2032

25,000

23,802

2.24%,

7/21/2032

15,000

14,645

2.51%,

10/20/2032

15,000

14,982

4.46%,

4/22/2039

160,000

193,553

4.38%,

1/22/2047

25,000

31,587

NASDAQ,

Inc.,

2.50%,

12/21/2040

20,000

18,528

National

Health

Investors,

Inc.,

3.00%,

2/01/2031

50,000

47,983

NatWest

Group

PLC,

5.08%,

1/27/2030

50,000

58,547

Northern

Trust

Corp.

3.15%,

5/03/2029

25,000

27,182

3.38%,

5/08/2032

50,000

53,228

Oesterreichische

Kontrollbank

AG,

Series

G,

2.88%,

3/13/2023

50,000

51,673

Office

Properties

Income

Trust

4.50%,

2/01/2025

10,000

10,637

2.65%,

6/15/2026

50,000

50,026

OMEGA

Healthcare

Investors,

Inc.

4.50%,

4/01/2027

15,000

16,557

3.63%,

10/01/2029

75,000

78,345

3.25%,

4/15/2033

50,000

49,284

Owl

Rock

Capital

Corp.

3.75%,

7/22/2025

10,000

10,440

2.88%,

6/11/2028

50,000

49,247

People's

United

Financial,

Inc.,

3.65%,

12/06/2022

65,000

66,552

PNC

Bank

NA,

2.70%,

10/22/2029

75,000

78,156

PNC

Financial

Services

Group,

Inc.

(The)

2.20%,

11/01/2024

35,000

36,352

2.60%,

7/23/2026

30,000

31,525

Principal

Financial

Group,

Inc.,

3.10%,

11/15/2026

44,000

46,814

Progressive

Corp.

(The),

4.00%,

3/01/2029

10,000

11,379

ProLogis

LP,

3.25%,

10/01/2026

49,000

52,809

Prospect

Capital

Corp.,

3.36%,

11/15/2026

40,000

39,962

Prudential

Financial,

Inc.

5.38%,

5/15/2045

50,000

54,431

3.94%,

12/07/2049

10,000

11,920

4.35%,

2/25/2050

15,000

19,123

Raymond

James

Financial,

Inc.,

4.65%,

4/01/2030

20,000

23,504

Regency

Centers

LP,

3.70%,

6/15/2030

10,000

10,947

Retail

Properties

of

America,

Inc.,

4.75%,

9/15/2030

10,000

10,991

Rexford

Industrial

Realty

LP,

2.15%,

9/01/2031

50,000

47,818

Royal

Bank

of

Canada

3.70%,

10/05/2023

50,000

52,876

0.43%,

1/19/2024

38,000

37,674

1.20%,

4/27/2026

50,000

49,279

Safehold

Operating

Partnership

LP,

2.80%,

6/15/2031

60,000

59,757

Santander

Holdings

USA,

Inc.,

3.24%,

10/05/2026

75,000

79,043

Santander

UK

Group

Holdings

PLC

1.09%,

3/15/2025

20,000

19,904

1.67%,

6/14/2027

50,000

49,266

2.90%,

3/15/2032

25,000

25,317

72

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

Simon

Property

Group

LP,

4.75%,

3/15/2042

20,000

24,576

Sixth

Street

Specialty

Lending,

Inc.,

2.50%,

8/01/2026

50,000

50,216

Spirit

Realty

LP

4.00%,

7/15/2029

15,000

16,505

3.20%,

2/15/2031

10,000

10,353

State

Street

Corp.

3.70%,

11/20/2023

40,000

42,517

3.15%,

3/30/2031

40,000

43,358

Sumitomo

Mitsui

Financial

Group,

Inc.

2.63%,

7/14/2026

45,000

46,731

3.45%,

1/11/2027

40,000

43,076

2.14%,

9/23/2030

45,000

43,229

SVB

Financial

Group

3.13%,

6/05/2030

50,000

53,063

1.80%,

2/02/2031

50,000

47,795

Synchrony

Financial

4.25%,

8/15/2024

10,000

10,730

3.70%,

8/04/2026

90,000

96,433

5.15%,

3/19/2029

125,000

145,579

Synovus

Financial

Corp.,

3.13%,

11/01/2022

50,000

51,003

Tanger

Properties

LP,

2.75%,

9/01/2031

50,000

47,745

Toronto-Dominion

Bank

(The)

0.45%,

9/11/2023

40,000

39,863

3.25%,

3/11/2024

40,000

42,194

2.65%,

6/12/2024

197,000

205,713

Travelers

Property

Casualty

Corp.,

6.38%,

3/15/2033

15,000

20,962

Truist

Bank,

3.00%,

2/02/2023

50,000

51,459

Truist

Financial

Corp.

3.75%,

12/06/2023

50,000

52,994

2.50%,

8/01/2024

30,000

31,261

3.88%,

3/19/2029

20,000

22,396

UDR,

Inc.

2.95%,

9/01/2026

40,000

42,044

3.00%,

8/15/2031

50,000

51,971

Unum

Group

4.00%,

3/15/2024

22,000

23,408

5.75%,

8/15/2042

50,000

63,718

4.50%,

12/15/2049

10,000

10,875

US

Bancorp

2.40%,

7/30/2024

75,000

77,927

3.60%,

9/11/2024

10,000

10,728

1.45%,

5/12/2025

35,000

35,320

Series

V,

2.38%,

7/22/2026

45,000

47,008

Series

D,

3.00%,

7/30/2029

25,000

26,621

1.38%,

7/22/2030

50,000

47,259

US

Bank

NA,

3.40%,

7/24/2023

75,000

78,579

Ventas

Realty

LP

3.85%,

4/01/2027

40,000

43,807

3.00%,

1/15/2030

15,000

15,571

4.38%,

2/01/2045

15,000

17,634

4.88%,

4/15/2049

10,000

12,661

Visa,

Inc.

3.15%,

12/14/2025

25,000

26,866

1.90%,

4/15/2027

25,000

25,456

2.70%,

4/15/2040

25,000

25,666

2.00%,

8/15/2050

(a)

55,000

49,149

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Financial

–

8.3%

(continued)

W.P.

Carey,

Inc.,

4.25%,

10/01/2026

35,000

38,881

Wachovia

Corp.,

5.50%,

8/01/2035

35,000

44,905

Wells

Fargo

&

Co.

Series

M,

3.45%,

2/13/2023

20,000

20,730

4.13%,

8/15/2023

10,000

10,586

4.48%,

1/16/2024

50,000

53,844

3.75%,

1/24/2024

41,000

43,500

3.55%,

9/29/2025

25,000

26,900

2.41%,

10/30/2025

50,000

51,630

2.19%,

4/30/2026

15,000

15,333

3.00%,

10/23/2026

10,000

10,560

3.20%,

6/17/2027

45,000

47,702

3.58%,

5/22/2028

100,000

107,780

4.15%,

1/24/2029

20,000

22,502

Series

B,

7.95%,

11/15/2029

15,000

20,494

2.88%,

10/30/2030

90,000

93,259

3.07%,

4/30/2041

30,000

30,695

4.65%,

11/04/2044

50,000

61,729

4.75%,

12/07/2046

20,000

25,359

Welltower,

Inc.,

3.63%,

3/15/2024

10,000

10,607

Western

Union

Co.

(The)

2.85%,

1/10/2025

65,000

67,645

1.35%,

3/15/2026

50,000

48,960

2.75%,

3/15/2031

25,000

24,947

Westpac

Banking

Corp.

3.30%,

2/26/2024

40,000

42,274

2.89%,

2/04/2030

25,000

25,706

4.11%,

7/24/2034

50,000

54,069

2.67%,

11/15/2035

45,000

43,899

2.96%,

11/16/2040

41,000

40,854

Weyerhaeuser

Co.,

4.00%,

4/15/2030

15,000

16,828

Willis

North

America,

Inc.,

5.05%,

9/15/2048

60,000

78,610

16,065,765

Industrial

–

2.2%

3M

Co.

2.88%,

10/15/2027

75,000

80,054

3.25%,

8/26/2049

(a)

10,000

10,921

Agilent

Technologies,

Inc.,

2.75%,

9/15/2029

50,000

51,999

Amphenol

Corp.,

2.80%,

2/15/2030

20,000

20,734

Berry

Global,

Inc.,

1.65%,

1/15/2027

25,000

24,474

Boeing

Co.

(The)

4.88%,

5/01/2025

10,000

11,044

2.20%,

2/04/2026

25,000

25,061

2.95%,

2/01/2030

10,000

10,113

5.15%,

5/01/2030

10,000

11,670

6.13%,

2/15/2033

30,000

37,905

3.60%,

5/01/2034

25,000

26,010

3.25%,

2/01/2035

45,000

45,030

6.63%,

2/15/2038

25,000

33,539

3.85%,

11/01/2048

50,000

52,607

5.81%,

5/01/2050

10,000

13,707

3.83%,

3/01/2059

45,000

45,688

5.93%,

5/01/2060

25,000

35,161

Burlington

Northern

Santa

Fe

LLC

3.85%,

9/01/2023

50,000

52,590

7.00%,

12/15/2025

20,000

24,439

4.90%,

4/01/2044

15,000

19,774

4.55%,

9/01/2044

27,000

34,245

73

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Industrial

–

2.2%

(continued)

Canadian

National

Railway

Co.,

3.20%,

8/02/2046

50,000

53,360

Carrier

Global

Corp.

3.38%,

4/05/2040

20,000

20,901

3.58%,

4/05/2050

62,000

67,002

Caterpillar

Financial

Services

Corp.

0.25%,

3/01/2023

60,000

59,855

3.30%,

6/09/2024

10,000

10,635

1.45%,

5/15/2025

20,000

20,202

CSX

Corp.

3.35%,

11/01/2025

25,000

26,864

4.75%,

11/15/2048

13,000

17,169

3.80%,

4/15/2050

15,000

17,471

2.50%,

5/15/2051

10,000

9,344

4.25%,

11/01/2066

50,000

62,467

Deere

&

Co.

2.75%,

4/15/2025

10,000

10,523

3.90%,

6/09/2042

25,000

30,063

Eaton

Corp.,

4.15%,

11/02/2042

55,000

65,108

Emerson

Electric

Co.,

1.95%,

10/15/2030

25,000

24,729

FedEx

Corp.

4.25%,

5/15/2030

10,000

11,406

3.88%,

8/01/2042

75,000

82,666

4.75%,

11/15/2045

15,000

18,654

4.55%,

4/01/2046

30,000

36,404

4.40%,

1/15/2047

10,000

11,919

5.25%,

5/15/2050

25,000

33,829

Flex

Ltd.

5.00%,

2/15/2023

100,000

105,188

4.88%,

6/15/2029

100,000

113,724

4.88%,

5/12/2030

175,000

200,368

GATX

Corp.

4.70%,

4/01/2029

30,000

34,581

3.10%,

6/01/2051

50,000

48,729

General

Dynamics

Corp.

3.25%,

4/01/2025

50,000

53,238

3.50%,

4/01/2027

40,000

43,756

4.25%,

4/01/2040

10,000

12,200

General

Electric

Co.

3.38%,

3/11/2024

25,000

26,396

3.45%,

5/01/2027

10,000

10,900

Honeywell

International,

Inc.

2.30%,

8/15/2024

25,000

25,978

1.75%,

9/01/2031

50,000

48,572

3.81%,

11/21/2047

70,000

84,788

Huntington

Ingalls

Industries,

Inc.,

3.84%,

5/01/2025

75,000

80,635

IDEX

Corp.,

2.63%,

6/15/2031

25,000

25,342

Illinois

Tool

Works,

Inc.,

2.65%,

11/15/2026

35,000

37,052

Jabil,

Inc.,

3.95%,

1/12/2028

10,000

10,969

John

Deere

Capital

Corp.

3.45%,

6/07/2023

100,000

104,629

3.45%,

1/10/2024

10,000

10,597

2.45%,

1/09/2030

20,000

20,698

Kansas

City

Southern,

4.30%,

5/15/2043

40,000

47,159

Keysight

Technologies,

Inc.,

3.00%,

10/30/2029

10,000

10,514

L3harris

Technologies,

Inc.

3.83%,

4/27/2025

50,000

53,978

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Industrial

–

2.2%

(continued)

1.80%,

1/15/2031

50,000

47,929

Lennox

International,

Inc.,

1.35%,

8/01/2025

50,000

49,630

Lockheed

Martin

Corp.

3.10%,

1/15/2023

10,000

10,273

3.55%,

1/15/2026

25,000

27,220

3.80%,

3/01/2045

40,000

47,069

Norfolk

Southern

Corp.

2.90%,

2/15/2023

50,000

51,194

2.90%,

8/25/2051

100,000

99,967

Northrop

Grumman

Corp.

5.05%,

11/15/2040

20,000

25,963

4.75%,

6/01/2043

35,000

44,739

Oshkosh

Corp.,

3.10%,

3/01/2030

50,000

52,138

Otis

Worldwide

Corp.,

2.29%,

4/05/2027

40,000

41,051

Parker-Hannifin

Corp.

2.70%,

6/14/2024

100,000

104,299

3.25%,

6/14/2029

25,000

26,795

4.10%,

3/01/2047

120,000

140,512

Raytheon

Technologies

Corp.

3.70%,

12/15/2023

55,000

58,074

3.20%,

3/15/2024

5,000

5,256

7.20%,

8/15/2027

25,000

32,137

4.63%,

11/16/2048

25,000

32,450

3.13%,

7/01/2050

25,000

26,027

Republic

Services,

Inc.

0.88%,

11/15/2025

20,000

19,540

2.30%,

3/01/2030

50,000

50,526

1.75%,

2/15/2032

20,000

18,927

Ryder

System,

Inc.,

2.50%,

9/01/2024

50,000

51,906

Snap-On,

Inc.,

3.10%,

5/01/2050

25,000

26,833

Textron,

Inc.

4.30%,

3/01/2024

25,000

26,682

4.00%,

3/15/2026

25,000

27,379

Union

Pacific

Corp.

4.50%,

9/10/2048

10,000

12,892

4.10%,

9/15/2067

15,000

18,489

3.80%,

4/06/2071

50,000

58,646

United

Parcel

Service,

Inc.

3.90%,

4/01/2025

50,000

54,390

3.05%,

11/15/2027

25,000

27,115

5.30%,

4/01/2050

20,000

29,736

Vontier

Corp.

2.40%,

4/01/2028

(b)

50,000

48,958

2.95%,

4/01/2031

(b)

50,000

49,411

Waste

Management,

Inc.

2.40%,

5/15/2023

85,000

87,117

3.13%,

3/01/2025

75,000

79,380

4.15%,

7/15/2049

15,000

18,889

2.50%,

11/15/2050

20,000

18,981

Westinghouse

Air

Brake

Technologies

Corp.

4.40%,

3/15/2024

50,000

53,420

3.45%,

11/15/2026

10,000

10,634

4.95%,

9/15/2028

50,000

57,387

WRKCo,

Inc.,

4.65%,

3/15/2026

25,000

28,140

4,365,428

Technology

–

1.7%

Activision

Blizzard,

Inc.,

3.40%,

9/15/2026

10,000

10,772

Adobe,

Inc.,

2.15%,

2/01/2027

40,000

41,368

74

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Technology

–

1.7%

(continued)

Amdocs

Ltd.,

2.54%,

6/15/2030

65,000

64,831

Analog

Devices,

Inc.,

2.95%,

4/01/2025

10,000

10,569

Apple,

Inc.

2.40%,

5/03/2023

96,000

98,682

3.00%,

2/09/2024

9,000

9,426

1.80%,

9/11/2024

10,000

10,254

1.13%,

5/11/2025

15,000

14,997

0.55%,

8/20/2025

10,000

9,794

0.70%,

2/08/2026

10,000

9,793

3.25%,

2/23/2026

50,000

53,866

1.25%,

8/20/2030

10,000

9,423

1.65%,

2/08/2031

60,000

58,113

2.38%,

2/08/2041

60,000

58,229

3.85%,

5/04/2043

25,000

29,541

4.65%,

2/23/2046

25,000

33,097

2.55%,

8/20/2060

50,000

46,894

2.80%,

2/08/2061

10,000

9,877

Applied

Materials,

Inc.

1.75%,

6/01/2030

30,000

29,354

5.10%,

10/01/2035

30,000

39,028

Autodesk,

Inc.,

2.85%,

1/15/2030

10,000

10,377

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.,

3.63%,

1/15/2024

10,000

10,528

Broadcom,

Inc.

4.70%,

4/15/2025

140,000

154,562

2.45%,

2/15/2031

(b)

55,000

53,172

3.50%,

2/15/2041

(b)

5,000

4,987

3.75%,

2/15/2051

(a)(b)

5,000

5,163

Broadridge

Financial

Solutions,

Inc.,

3.40%,

6/27/2026

10,000

10,750

Citrix

Systems,

Inc.,

1.25%,

3/01/2026

20,000

19,482

Dell

International

LLC

/

EMC

Corp.

4.00%,

7/15/2024

10,000

10,722

4.90%,

10/01/2026

50,000

57,007

DXC

Technology

Co.,

2.38%,

9/15/2028

30,000

29,143

Electronic

Arts,

Inc.,

1.85%,

2/15/2031

25,000

24,025

Fidelity

National

Information

Services,

Inc.,

0.38%,

3/01/2023

43,000

42,868

Fiserv,

Inc.,

2.75%,

7/01/2024

25,000

26,084

Fortinet,

Inc.,

1.00%,

3/15/2026

50,000

48,733

Hewlett

Packard

Enterprise

Co.

1.45%,

4/01/2024

10,000

10,103

6.20%,

10/15/2035

50,000

65,564

6.35%,

10/15/2045

20,000

27,449

HP,

Inc.,

6.00%,

9/15/2041

35,000

46,219

Intel

Corp.

3.15%,

5/11/2027

30,000

32,424

2.45%,

11/15/2029

30,000

30,961

4.10%,

5/11/2047

40,000

47,854

3.10%,

2/15/2060

10,000

10,054

International

Business

Machines

Corp.

3.30%,

1/27/2027

100,000

108,249

2.85%,

5/15/2040

100,000

99,329

4.00%,

6/20/2042

25,000

28,838

Intuit,

Inc.,

1.65%,

7/15/2030

10,000

9,699

KLA

Corp.,

5.00%,

3/15/2049

50,000

68,209

LAM

Research

Corp.,

3.13%,

6/15/2060

50,000

52,295

Maxim

Integrated

Products,

Inc.,

3.38%,

3/15/2023

110,000

113,610

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Technology

–

1.7%

(continued)

Micron

Technology,

Inc.,

2.50%,

4/24/2023

15,000

15,389

Microsoft

Corp.

3.63%,

12/15/2023

50,000

52,860

2.88%,

2/06/2024

30,000

31,376

2.40%,

8/08/2026

25,000

26,246

4.50%,

10/01/2040

75,000

97,560

4.25%,

2/06/2047

40,000

52,290

2.92%,

3/17/2052

20,000

21,214

3.04%,

3/17/2062

81,000

87,469

NetApp,

Inc.,

1.88%,

6/22/2025

10,000

10,164

NVIDIA

Corp.

3.50%,

4/01/2040

20,000

22,364

3.50%,

4/01/2050

40,000

45,724

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

4.88%,

3/01/2024

(b)

50,000

54,110

3.88%,

6/18/2026

(b)

10,000

10,895

3.15%,

5/01/2027

(b)

35,000

36,969

3.25%,

5/11/2041

(b)

60,000

61,242

Oracle

Corp.

1.65%,

3/25/2026

50,000

50,088

2.65%,

7/15/2026

50,000

51,987

2.95%,

4/01/2030

22,000

22,809

2.88%,

3/25/2031

10,000

10,244

4.30%,

7/08/2034

100,000

112,938

4.00%,

11/15/2047

30,000

32,383

3.60%,

4/01/2050

10,000

10,216

3.95%,

3/25/2051

150,000

162,266

4.10%,

3/25/2061

10,000

10,928

QUALCOMM,

Inc.,

2.60%,

1/30/2023

10,000

10,246

Roper

Technologies,

Inc.,

1.00%,

9/15/2025

20,000

19,692

Servicenow,

Inc.,

1.40%,

9/01/2030

50,000

46,691

Teledyne

FLIR

LLC,

2.50%,

8/01/2030

25,000

25,116

Texas

Instruments,

Inc.

1.13%,

9/15/2026

(a)

50,000

49,630

2.25%,

9/04/2029

13,000

13,365

1.90%,

9/15/2031

50,000

49,374

VMware,

Inc.

4.50%,

5/15/2025

25,000

27,567

1.40%,

8/15/2026

50,000

49,244

Xilinx,

Inc.,

2.95%,

6/01/2024

35,000

36,595

3,323,619

Utilities

–

2.2%

AEP

Texas,

Inc.,

Series

I,

2.10%,

7/01/2030

50,000

48,645

AEP

Transmission

Co.

LLC,

3.80%,

6/15/2049

30,000

34,981

AES

Corp.

(The),

1.38%,

1/15/2026

50,000

49,025

Alabama

Power

Co.,

3.13%,

7/15/2051

(a)

15,000

15,872

Ameren

Illinois

Co.,

1.55%,

11/15/2030

10,000

9,499

American

Water

Capital

Corp.

3.75%,

9/01/2028

40,000

44,623

2.80%,

5/01/2030

25,000

26,131

6.59%,

10/15/2037

90,000

131,568

4.15%,

6/01/2049

50,000

60,404

Arizona

Public

Service

Co.

4.25%,

3/01/2049

100,000

120,201

3.35%,

5/15/2050

50,000

52,941

Atmos

Energy

Corp.

1.50%,

1/15/2031

45,000

42,208

3.38%,

9/15/2049

50,000

53,771

75

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Utilities

–

2.2%

(continued)

Berkshire

Hathaway

Energy

Co.,

4.05%,

4/15/2025

40,000

43,649

Black

Hills

Corp.,

3.88%,

10/15/2049

10,000

11,163

CenterPoint

Energy

Resources

Corp.,

4.10%,

9/01/2047

25,000

29,481

Commonwealth

Edison

Co.

4.00%,

3/01/2048

20,000

24,020

4.00%,

3/01/2049

20,000

24,112

Consolidated

Edison

Co.

of

New

York,

Inc.

4.63%,

12/01/2054

30,000

38,123

Series

C,

3.00%,

12/01/2060

20,000

19,333

Dominion

Energy,

Inc.

Series

A,

1.45%,

4/15/2026

25,000

24,813

Series

B,

3.30%,

4/15/2041

25,000

26,345

Duke

Energy

Carolinas

LLC,

4.25%,

12/15/2041

30,000

35,777

Duke

Energy

Corp.

2.65%,

9/01/2026

50,000

52,231

3.75%,

9/01/2046

20,000

21,798

Duke

Energy

Florida

LLC,

1.75%,

6/15/2030

100,000

96,706

Duke

Energy

Indiana

LLC

Series

YYY,

3.25%,

10/01/2049

25,000

26,377

2.75%,

4/01/2050

45,000

43,716

Duke

Energy

Ohio,

Inc.,

3.70%,

6/15/2046

50,000

56,982

Duke

Energy

Progress

LLC,

3.38%,

9/01/2023

80,000

83,827

Eastern

Energy

Gas

Holdings

LLC,

Series

A,

2.50%,

11/15/2024

34,000

35,407

Edison

International,

4.13%,

3/15/2028

10,000

10,702

El

Paso

Electric

Co.,

6.00%,

5/15/2035

33,000

43,500

Emera

US

Finance

LP,

3.55%,

6/15/2026

10,000

10,730

ENEL

Americas

SA,

4.00%,

10/25/2026

50,000

53,389

ENEL

Generacion

Chile

SA,

4.25%,

4/15/2024

25,000

26,736

Entergy

Louisiana

LLC,

2.40%,

10/01/2026

35,000

36,075

Essential

Utilities,

Inc.,

3.35%,

4/15/2050

15,000

16,014

Evergy,

Inc.,

2.45%,

9/15/2024

100,000

103,536

Eversource

Energy,

Series

R,

1.65%,

8/15/2030

50,000

47,182

Exelon

Generation

Co.

LLC,

5.75%,

10/01/2041

30,000

36,611

Florida

Power

&

Light

Co.

2.85%,

4/01/2025

75,000

78,928

3.80%,

12/15/2042

50,000

58,524

Interstate

Power

and

Light

Co.,

2.30%,

6/01/2030

15,000

15,045

ITC

Holdings

Corp.,

3.35%,

11/15/2027

50,000

53,800

Louisville

Gas

&

Electric

Co.,

4.25%,

4/01/2049

25,000

30,953

MidAmerican

Energy

Co.

3.50%,

10/15/2024

70,000

74,844

4.25%,

7/15/2049

30,000

37,752

National

Rural

Utilities

Cooperative

Finance

Corp.

1.00%,

6/15/2026

45,000

44,237

4.30%,

3/15/2049

15,000

18,864

Nextera

Energy

Capital

Holdings,

Inc.,

0.65%,

3/01/2023

50,000

50,052

NextEra

Energy

Capital

Holdings,

Inc.

3.15%,

4/01/2024

75,000

78,806

2.25%,

6/01/2030

30,000

29,986

NiSource,

Inc.

0.95%,

8/15/2025

15,000

14,708

5.25%,

2/15/2043

35,000

45,736

Northern

States

Power

Co.,

2.90%,

3/01/2050

20,000

20,658

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Utilities

–

2.2%

(continued)

Ohio

Power

Co.,

Series

R,

2.90%,

10/01/2051

25,000

24,848

Oncor

Electric

Delivery

Co.

LLC,

3.10%,

9/15/2049

15,000

16,192

One

Gas,

Inc.,

0.85%,

3/11/2023

15,000

14,999

Pacific

Gas

&

Electric

Co.

3.85%,

11/15/2023

50,000

51,579

3.15%,

1/01/2026

10,000

10,297

2.10%,

8/01/2027

10,000

9,703

4.65%,

8/01/2028

100,000

109,260

4.55%,

7/01/2030

5,000

5,446

2.50%,

2/01/2031

50,000

47,692

4.50%,

7/01/2040

5,000

5,222

3.30%,

8/01/2040

30,000

28,271

4.20%,

6/01/2041

75,000

75,583

4.00%,

12/01/2046

50,000

49,645

4.95%,

7/01/2050

5,000

5,536

Pacificorp,

4.10%,

2/01/2042

35,000

40,483

PECO

Energy

Co.

3.00%,

9/15/2049

40,000

41,517

2.85%,

9/15/2051

50,000

50,856

Piedmont

Natural

Gas

Co.,

Inc.

2.50%,

3/15/2031

25,000

25,077

3.35%,

6/01/2050

15,000

15,723

Public

Service

Co.

of

Colorado

Series

17,

6.25%,

9/01/2037

10,000

14,769

Series

34,

3.20%,

3/01/2050

20,000

21,480

Public

Service

Electric

&

Gas

Co.,

3.95%,

5/01/2042

35,000

40,988

Public

Service

Enterprise

Group,

Inc.

0.80%,

8/15/2025

10,000

9,755

1.60%,

8/15/2030

10,000

9,365

Puget

Sound

Energy,

Inc.,

2.89%,

9/15/2051

25,000

25,170

San

Diego

Gas

&

Electric

Co.

2.50%,

5/15/2026

50,000

52,130

Series

RRR,

3.75%,

6/01/2047

60,000

68,787

Series

TTT,

4.10%,

6/15/2049

10,000

12,137

Sempra

Energy

3.55%,

6/15/2024

15,000

15,851

3.80%,

2/01/2038

15,000

16,600

Southern

California

Edison

Co.

2.25%,

6/01/2030

25,000

24,635

6.00%,

1/15/2034

160,000

208,432

4.50%,

9/01/2040

75,000

85,137

Southern

California

Gas

Co.

3.75%,

9/15/2042

35,000

38,982

Series

VV,

4.30%,

1/15/2049

15,000

18,778

Series

WW,

3.95%,

2/15/2050

15,000

18,033

Southern

Co.

(The),

Series

A,

3.70%,

4/30/2030

10,000

10,868

Southern

Co.

Gas

Capital

Corp.

4.40%,

5/30/2047

30,000

35,869

Series

21A,

3.15%,

9/30/2051

25,000

25,381

Southern

Power

Co.,

5.25%,

7/15/2043

20,000

25,120

Southwest

Gas

Corp.

2.20%,

6/15/2030

15,000

14,725

4.15%,

6/01/2049

25,000

28,666

Southwestern

Electric

Power

Co.

Series

N,

1.65%,

3/15/2026

125,000

125,055

Series

J,

3.90%,

4/01/2045

40,000

44,669

76

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

26.3%

(continued)

Utilities

–

2.2%

(continued)

Union

Electric

Co.,

3.25%,

10/01/2049

75,000

81,725

Virginia

Electric

and

Power

Co.

Series

A,

3.80%,

4/01/2028

50,000

55,564

Series

B,

3.80%,

9/15/2047

20,000

23,108

2.45%,

12/15/2050

10,000

9,360

Wisconsin

Power

and

Light

Co.,

1.95%,

9/16/2031

50,000

48,920

Xcel

Energy,

Inc.

0.50%,

10/15/2023

30,000

29,892

2.60%,

12/01/2029

10,000

10,308

4,299,285

Total

Corporate

Bonds

(cost

$51,258,590)

51,277,008

Foreign

Governmental

–

2.0%

Chile

Government

International

Bond

3.24%,

2/06/2028

40,000

42,163

2.45%,

1/31/2031

20,000

19,682

3.10%,

1/22/2061

100,000

92,091

Hungary

Government

International

Bond

5.38%,

2/21/2023

20,000

21,212

5.75%,

11/22/2023

120,000

131,681

Hydro-Quebec,

Series

HH,

8.50%,

12/01/2029

25,000

36,824

Indonesia

Government

International

Bond

2.95%,

1/11/2023

96,000

98,583

3.50%,

1/11/2028

50,000

54,124

4.10%,

4/24/2028

50,000

55,887

3.40%,

9/18/2029

20,000

21,530

1.85%,

3/12/2031

20,000

19,167

3.05%,

3/12/2051

20,000

19,665

Israel

Government

AID

Bond,

5.50%,

9/18/2033

40,000

55,303

Israel

Government

International

Bond,

3.88%,

7/03/2050

160,000

183,810

Korea

International

Bond,

4.13%,

6/10/2044

200,000

260,682

Mexico

Government

International

Bond

4.00%,

10/02/2023

50,000

53,107

4.50%,

4/22/2029

50,000

55,947

2.66%,

5/24/2031

50,000

48,215

4.75%,

4/27/2032

60,000

67,357

6.05%,

1/11/2040

40,000

49,934

4.28%,

8/14/2041

100,000

104,358

5.75%,

10/12/2110

20,000

23,165

Panama

Government

International

Bond

4.00%,

9/22/2024

50,000

53,467

3.75%,

3/16/2025

50,000

53,423

9.38%,

4/01/2029

100,000

145,038

6.70%,

1/26/2036

40,000

53,362

Peruvian

Government

International

Bond

2.39%,

1/23/2026

20,000

20,388

2.84%,

6/20/2030

20,000

20,253

8.75%,

11/21/2033

20,000

30,985

3.23%,

7/28/2121

25,000

21,235

Philippine

Government

International

Bond

9.50%,

2/02/2030

25,000

38,730

1.95%,

1/06/2032

100,000

97,141

Province

of

Alberta

Canada

3.30%,

3/15/2028

25,000

27,507

1.30%,

7/22/2030

325,000

310,276

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Foreign

Governmental

–

2.0%

(continued)

Province

of

British

Columbia

Canada

Series

10,

1.75%,

9/27/2024

20,000

20,525

0.90%,

7/20/2026

50,000

49,216

Province

of

Manitoba

Canada,

2.13%,

6/22/2026

25,000

25,905

Province

of

Ontario

Canada

1.75%,

1/24/2023

100,000

101,675

3.20%,

5/16/2024

30,000

31,821

0.63%,

1/21/2026

10,000

9,764

1.05%,

4/14/2026

15,000

14,873

2.50%,

4/27/2026

125,000

131,727

1.05%,

5/21/2027

65,000

63,541

1.60%,

2/25/2031

130,000

127,469

Province

of

Quebec

Canada

2.63%,

2/13/2023

150,000

154,248

Series

QX,

1.50%,

2/11/2025

77,000

78,343

0.60%,

7/23/2025

(a)

50,000

49,184

2.50%,

4/20/2026

20,000

21,094

2.75%,

4/12/2027

150,000

160,393

1.90%,

4/21/2031

15,000

15,131

Republic

of

Italy

Government

International

Bond

6.88%,

9/27/2023

40,000

44,483

4.00%,

10/17/2049

20,000

22,257

3.88%,

5/06/2051

55,000

60,543

Republic

of

Poland

Government

International

Bond

3.00%,

3/17/2023

150,000

154,559

4.00%,

1/22/2024

50,000

53,279

Svensk

Exportkredit

AB,

5/11/2037

(c)

30,000

19,758

Uruguay

Government

International

Bond,

4.98%,

4/20/2055

20,000

25,677

Total

Foreign

Governmental

(cost

$3,838,331)

3,821,757

Municipal

Securities

–

0.4%

California

State

University,

RB,

2.72%,

11/01/2052

50,000

49,675

New

Jersey

Turnpike

Authority,

RB,

7.10%,

1/01/2041

20,000

32,006

North

Texas

Tollway

Authority,

RB,

6.72%,

1/01/2049

15,000

25,301

Ohio

State

University

(The),

RB,

4.80%,

6/01/2111

10,000

15,311

Port

Authority

of

New

York

&

New

Jersey,

4.96%,

8/01/2046

100,000

135,810

Regents

of

The

University

of

California

Medical

Center

Pooled

Revenue,

6.58%,

5/15/2049

100,000

155,450

State

Board

of

Administration

Finance

Corp.,

1.71%,

7/01/2027

100,000

99,918

State

of

California,

7.30%,

10/01/2039

50,000

79,543

State

of

California,

GO,

7.60%,

11/01/2040

15,000

26,127

State

of

Illinois

Sales

Tax

Securitization

Corp.,

RB,

3.59%,

1/01/2043

30,000

33,403

State

of

Illinois,

GO,

5.10%,

6/01/2033

20,000

23,247

University

of

Virginia,

RB,

2.58%,

11/01/2051

50,000

51,238

Total

Municipal

Securities

(cost

$728,139)

727,029

Supranational

Bank

–

1.3%

African

Development

Bank

0.75%,

4/03/2023

75,000

75,343

3.00%,

9/20/2023

75,000

78,468

77

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Supranational

Bank

–

1.3%

(continued)

Asian

Development

Bank

2.75%,

3/17/2023

50,000

51,628

2.63%,

1/30/2024

50,000

52,226

Series

G,

1.00%,

4/14/2026

50,000

49,654

2.75%,

1/19/2028

50,000

53,916

1.75%,

9/19/2029

150,000

151,818

0.75%,

10/08/2030

150,000

139,597

Asian

Infrastructure

Investment

Bank

(The)

0.25%,

9/29/2023

50,000

49,727

0.50%,

5/28/2025

125,000

122,820

European

Bank

For

Reconstruction

&

Development,

0.25%,

7/10/2023

70,000

69,754

European

Investment

Bank

1.88%,

2/10/2025

50,000

51,601

0.38%,

12/15/2025

5,000

4,859

0.38%,

3/26/2026

10,000

9,668

2.38%,

5/24/2027

150,000

158,416

Export

Development

Canada,

1.38%,

2/24/2023

60,000

60,786

Export-Import

Bank

of

Korea,

0.63%,

6/29/2024

200,000

199,226

Inter-American

Development

Bank

2.50%,

1/18/2023

75,000

76,955

2.13%,

1/15/2025

50,000

51,962

2.00%,

6/02/2026

(a)

15,000

15,539

0.63%,

9/16/2027

50,000

47,815

1.13%,

7/20/2028

50,000

48,781

3.13%,

9/18/2028

50,000

55,282

1.13%,

1/13/2031

10,000

9,593

3.88%,

10/28/2041

150,000

191,969

International

Bank

For

Reconstruction

&

Development

2.50%,

11/25/2024

20,000

21,007

0.75%,

3/11/2025

50,000

49,720

0.38%,

7/28/2025

150,000

146,564

0.50%,

10/28/2025

75,000

73,374

3.13%,

11/20/2025

75,000

81,158

0.75%,

8/26/2030

75,000

69,950

1.25%,

2/10/2031

10,000

9,699

Japan

Bank

For

International

Cooperation

2.38%,

11/16/2022

20,000

20,409

0.63%,

7/15/2025

50,000

49,056

2.25%,

11/04/2026

50,000

51,966

Korea

Development

Bank

(The)

2.75%,

3/19/2023

150,000

154,345

2.13%,

10/01/2024

15,000

15,578

Total

Supranational

Bank

(cost

$2,641,690)

2,620,229

U.S.

Government

Agencies

–

29.7%

Federal

Farm

Credit

Banks

Funding

Corp.

0.13%,

3/09/2023

200,000

199,396

0.13%,

3/23/2023

100,000

99,684

0.25%,

2/26/2024

50,000

49,649

Federal

Home

Loan

Banks

0.13%,

10/21/2022

40,000

39,993

1.38%,

2/17/2023

25,000

25,350

0.13%,

3/17/2023

75,000

74,838

2.50%,

2/13/2024

(a)

265,000

276,734

2.75%,

12/13/2024

10,000

10,598

3.25%,

11/16/2028

165,000

184,418

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

Home

Loan

Mortgage

Corporation

0.38%,

4/20/2023

(d)

130,000

130,050

0.25%,

8/24/2023

(d)

54,000

53,799

0.25%,

9/08/2023

(d)

25,000

24,893

1.50%,

2/12/2025

(d)

92,000

93,933

0.38%,

7/21/2025

(d)

100,000

97,909

0.38%,

9/23/2025

(a)(d)

125,000

122,089

2.50%,

9/01/2027

21,233

22,081

4.00%,

7/01/2029

18,616

19,784

6.75%,

9/15/2029

(d)

50,000

69,836

3.00%,

2/01/2031

36,703

38,572

2.50%,

12/01/2031

21,803

22,723

6.25%,

7/15/2032

(d)

70,000

100,809

3.00%,

1/01/2033

7,926

8,325

3.50%,

2/01/2033

105,929

112,693

3.00%,

4/01/2033

96,772

101,829

3.00%,

4/01/2033

42,255

44,338

3.00%,

7/01/2033

116,181

122,711

2.50%,

11/01/2034

34,515

35,869

3.50%,

3/01/2035

10,626

11,361

3.00%,

4/01/2035

46,884

49,212

3.00%,

6/01/2035

61,744

64,811

2.50%,

9/01/2035

166,184

172,724

1.50%,

11/01/2035

20,480

20,632

2.50%,

5/01/2036

93,095

96,995

2.50%,

6/01/2036

433,596

451,765

2.00%,

8/01/2036

243,298

249,862

2.50%,

8/01/2036

145,436

151,530

1.50%,

9/01/2036

49,207

49,553

2.00%,

11/01/2036

50,000

51,349

3.00%,

5/01/2037

(d)

22,372

23,540

3.00%,

5/01/2037

29,829

31,381

3.00%,

11/01/2039

58,275

60,851

3.00%,

3/01/2040

61,464

64,181

2.50%,

4/01/2040

9,481

9,811

2.50%,

9/01/2040

71,568

74,060

2.50%,

10/01/2040

19,409

20,085

2.00%,

11/01/2040

21,562

21,975

4.00%,

11/01/2040

70,909

77,683

1.50%,

1/01/2041

22,821

22,632

2.00%,

3/01/2041

23,423

23,886

1.50%,

5/01/2041

96,094

95,274

2.50%,

6/01/2041

96,682

100,436

2.00%,

8/01/2041

49,197

50,168

3.00%,

12/01/2042

(d)

21,827

23,178

3.00%,

1/01/2043

(d)

57,532

61,095

3.50%,

2/01/2043

67,611

73,161

3.00%,

4/01/2043

78,629

83,535

3.00%,

1/01/2045

307,772

325,963

3.00%,

5/01/2045

12,433

13,145

3.50%,

7/01/2045

14,339

15,382

3.50%,

10/01/2045

28,070

30,111

4.50%,

10/01/2045

90,003

99,690

4.00%,

11/01/2045

218,740

237,732

3.50%,

12/01/2045

10,153

10,892

3.00%,

12/01/2046

11,209

11,809

3.00%,

1/01/2047

62,969

66,342

3.00%,

8/01/2047

56,115

59,121

4.00%,

8/01/2047

(d)

61,575

66,369

3.50%,

6/01/2048

89,963

95,223

4.50%,

8/01/2048

114,672

123,959

78

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

4.00%,

1/01/2049

69,452

74,320

4.50%,

3/01/2049

(d)

43,759

47,320

3.50%,

5/01/2049

173,308

182,905

3.00%,

9/01/2049

46,715

48,733

3.00%,

10/01/2049

53,899

56,227

5.00%,

10/01/2049

100,731

110,616

2.50%,

1/01/2050

44,754

45,955

4.50%,

2/01/2050

33,042

35,691

3.00%,

3/01/2050

44,867

46,805

2.50%,

6/01/2050

86,622

89,042

2.50%,

6/01/2050

229,972

236,397

2.50%,

6/01/2050

74,660

76,745

2.50%,

7/01/2050

459,889

472,736

2.50%,

7/01/2050

212,241

218,170

2.50%,

8/01/2050

16,998

17,473

2.50%,

10/01/2050

151,935

156,180

2.50%,

10/01/2050

175,756

180,666

3.00%,

10/01/2050

48,649

50,752

2.50%,

3/01/2051

309,081

317,715

2.00%,

4/01/2051

266,551

266,758

2.00%,

5/01/2051

120,884

120,978

2.00%,

5/01/2051

193,063

193,212

2.50%,

5/01/2051

242,978

249,848

2.50%,

5/01/2051

71,985

74,021

1.50%,

6/01/2051

195,918

189,759

3.00%,

6/01/2051

142,273

149,004

2.50%,

7/01/2051

147,199

151,361

3.00%,

7/01/2051

264,748

277,274

1.50%,

8/01/2051

197,696

191,480

2.00%,

8/01/2051

347,368

347,637

2.50%,

8/01/2051

197,698

203,288

1.50%,

9/01/2051

347,322

336,402

2.00%,

9/01/2051

346,998

347,267

2.00%,

9/01/2051

24,752

24,771

2.00%,

9/01/2051

548,878

549,304

2.00%,

9/01/2051

398,381

398,690

2.50%,

9/01/2051

371,234

381,731

2.50%,

9/01/2051

199,231

204,864

3.50%,

9/01/2051

167,762

178,619

1.50%,

10/01/2051

199,568

193,294

2.00%,

10/01/2051

224,652

224,826

Federal

Home

Loan

Mortgage

Corporation

Mutifamily

Structured

Pass-Through

Ctfs.

Series

2014-K038,

Class

A2,

3.39%,

3/25/2024

(d)

195,000

205,505

Series

2015-KS03,

Class

A4,

3.16%,

5/25/2025

(d)

35,000

36,923

Series

2019-K736,

Class

A2,

2.28%,

7/25/2026

(d)

50,000

52,065

Series

2016-K058,

Class

AM,

2.72%,

8/25/2026

(d)

90,000

95,073

Series

2017-K064,

Class

A2,

3.22%,

3/25/2027

(d)

20,000

21,797

Series

2017-K069,

Class

A2,

3.19%,

9/25/2027

(d)

150,000

164,234

Series

2018-K072,

Class

A2,

3.44%,

12/25/2027

(d)

160,000

177,977

Series

2018-K077,

Class

A1,

3.70%,

3/25/2028

(d)

27,443

29,966

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

Home

Loan

Mortgage

Corporation

Mutifamily

Structured

Pass-Through

Ctfs.

(continued)

Series

2018-K077,

Class

A2,

3.85%,

5/25/2028

(d)

50,000

56,955

Series

2018-K081,

Class

AM,

3.90%,

8/25/2028

(d)

50,000

57,136

Series

2019-K087,

Class

A2,

3.77%,

12/25/2028

(d)

30,000

34,254

Series

2019-K089,

Class

AM,

3.63%,

1/25/2029

(d)

60,000

67,872

Series

2020-K106,

Class

A1,

1.78%,

10/25/2029

(d)

59,002

60,295

Series

2019-K101,

Class

A2,

2.52%,

10/25/2029

(d)

10,000

10,663

Series

2016-K152,

Class

A1,

2.83%,

5/25/2030

(d)

40,615

43,567

Series

2021-K126,

Class

A2,

2.07%,

1/25/2031

(d)

50,000

51,652

Series

2017-K153,

Class

A3,

3.12%,

10/25/2031

(d)

50,000

55,818

Series

2019-1513,

Class

A3,

2.80%,

8/25/2034

(d)

20,000

21,513

Series

2020-K105,

Class

A2,

1.87%,

3/25/2053

(d)

90,000

91,540

Federal

National

Mortgage

Association

2.38%,

1/19/2023

(d)

20,000

20,519

0.25%,

5/22/2023

(d)

50,000

49,882

2.88%,

9/12/2023

(d)

200,000

208,824

0.25%,

11/27/2023

(d)

75,000

74,619

1.75%,

7/02/2024

(d)

25,000

25,688

2.63%,

9/06/2024

(a)(d)

25,000

26,372

1.63%,

1/07/2025

(a)(d)

50,000

51,233

0.63%,

4/22/2025

(d)

30,000

29,692

0.38%,

8/25/2025

(d)

30,000

29,319

1.88%,

9/24/2026

(d)

140,000

144,592

3.00%,

11/01/2026

(d)

32,751

34,360

3.00%,

12/01/2026

(d)

18,216

19,111

3.00%,

12/01/2026

(d)

62,705

65,785

3.00%,

12/01/2026

(d)

16,753

17,576

3.00%,

6/01/2027

(d)

17,242

18,088

3.00%,

2/01/2028

(d)

26,226

27,513

2.50%,

6/01/2028

(d)

55,472

57,676

3.00%,

9/01/2028

(d)

100,296

105,241

3.50%,

8/01/2030

(d)

31,225

33,118

0.88%,

8/05/2030

(a)(d)

165,000

155,011

2.00%,

10/01/2030

(d)

14,625

15,028

6.63%,

11/15/2030

(d)

75,000

106,236

2.50%,

3/01/2031

(d)

78,931

82,068

3.00%,

8/01/2031

(d)

23,130

24,308

2.50%,

10/01/2031

(d)

149,362

155,271

2.00%,

11/01/2031

(d)

38,157

39,222

3.50%,

11/01/2031

(d)

25,358

26,948

2.50%,

1/01/2032

(d)

91,125

94,967

2.50%,

1/01/2032

(d)

17,821

18,547

3.50%,

1/01/2032

(d)

19,867

21,221

3.00%,

2/01/2032

(d)

25,347

26,637

3.50%,

4/01/2032

(d)

24,842

26,428

3.50%,

8/01/2032

(d)

93,050

99,275

2.50%,

1/01/2033

(d)

31,653

32,906

3.00%,

2/01/2033

(d)

79,155

83,133

3.00%,

2/01/2033

(d)

23,140

24,303

79

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

National

Mortgage

Association

(continued)

3.50%,

5/01/2033

(d)

6,645

7,061

2.50%,

7/01/2033

(d)

35,394

36,887

4.00%,

4/01/2034

(d)

18,512

19,671

3.50%,

9/01/2034

(d)

28,996

31,056

3.00%,

2/01/2035

(d)

11,019

11,558

3.50%,

3/01/2035

(d)

13,156

13,981

2.00%,

7/01/2035

(d)

33,256

34,156

3.00%,

9/01/2035

(d)

33,150

34,796

2.00%,

10/01/2035

(d)

42,623

43,776

2.00%,

10/01/2035

(d)

20,517

21,072

2.00%,

10/01/2035

(d)

20,489

21,043

5.50%,

10/01/2035

(d)

18,183

20,583

1.50%,

11/01/2035

(d)

20,218

20,368

2.00%,

11/01/2035

(d)

191,894

197,085

1.50%,

11/15/2035

(d)(e)

475,000

478,097

2.00%,

11/15/2035

(e)

25,000

25,658

2.00%,

12/01/2035

(d)

43,607

44,787

2.00%,

12/15/2035

(d)(e)

100,000

102,461

1.50%,

4/01/2036

(d)

23,528

23,694

2.00%,

4/01/2036

(d)

47,622

48,907

1.50%,

5/01/2036

(d)

48,065

48,403

1.50%,

5/01/2036

(d)

94,552

95,218

2.00%,

5/01/2036

(d)

96,888

99,502

2.00%,

6/01/2036

(d)

47,734

49,022

2.00%,

6/01/2036

(d)

287,806

295,571

2.00%,

7/01/2036

(d)

73,305

75,283

2.00%,

7/01/2036

(d)

317,238

325,798

2.00%,

8/01/2036

(d)

291,846

299,721

1.50%,

9/01/2036

(d)

320,226

322,482

2.00%,

9/01/2036

(d)

49,407

50,741

1.50%,

10/01/2036

(d)

50,000

50,352

1.50%,

10/01/2036

(d)

49,702

50,052

2.00%,

10/01/2036

(d)

148,978

152,998

1.50%,

11/01/2036

(d)

75,000

75,528

3.00%,

11/15/2036

(d)(e)

75,000

78,623

1.50%,

12/15/2036

(d)(e)

75,000

75,343

3.50%,

1/01/2037

(d)

22,051

23,623

2.50%,

2/01/2037

(d)

20,366

21,124

3.50%,

11/01/2037

(d)

122,819

131,312

2.50%,

3/01/2038

(d)

24,165

25,064

3.00%,

5/01/2038

(d)

42,277

44,476

3.50%,

6/01/2039

(d)

80,137

86,475

4.50%,

6/01/2039

(d)

27,862

30,920

4.00%,

11/01/2039

(d)

23,441

25,189

6.00%,

4/01/2040

(d)

41,862

48,256

2.50%,

5/01/2040

(d)

11,860

12,273

2.00%,

8/01/2040

(d)

41,721

42,521

2.50%,

8/01/2040

(d)

17,094

17,690

2.00%,

9/01/2040

(d)

67,381

68,674

4.00%,

10/01/2040

(d)

86,491

94,754

2.00%,

11/01/2040

(d)

21,420

21,831

2.00%,

1/01/2041

(d)

115,674

117,893

2.00%,

2/01/2041

(d)

57,138

58,235

4.50%,

2/01/2041

(d)

37,762

41,938

1.50%,

5/01/2041

(d)

48,246

47,834

2.00%,

5/01/2041

(d)

120,518

122,898

1.50%,

6/01/2041

(d)

24,266

24,059

1.50%,

7/01/2041

(d)

73,050

72,426

2.00%,

7/01/2041

(d)

195,729

199,595

5.50%,

7/01/2041

(d)

20,712

23,456

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

National

Mortgage

Association

(continued)

2.50%,

11/01/2041

(d)

50,000

51,941

3.50%,

12/01/2041

(d)

28,471

30,757

3.00%,

4/01/2042

(d)

18,092

19,206

3.50%,

4/01/2042

(d)

71,540

77,412

5.00%,

4/01/2042

(d)

53,933

60,950

3.50%,

6/01/2042

(d)

22,201

24,023

4.00%,

7/01/2042

(d)

34,381

37,683

2.50%,

10/01/2042

(d)

71,350

73,988

3.00%,

4/01/2043

(d)

35,296

37,498

3.00%,

4/01/2043

(d)

207,388

220,328

4.00%,

9/01/2044

(d)

38,076

41,642

3.00%,

10/01/2044

(d)

161,232

171,292

4.00%,

11/01/2044

(d)

34,706

37,956

3.00%,

4/01/2045

(d)

63,721

67,697

3.50%,

4/01/2045

(d)

18,934

20,311

3.50%,

5/01/2045

(d)

26,168

28,071

3.50%,

6/01/2045

(d)

356,658

385,621

3.50%,

8/01/2045

(d)

127,371

136,632

3.50%,

11/01/2045

(d)

35,945

38,558

3.50%,

12/01/2045

(d)

266,445

285,819

3.50%,

1/01/2046

(d)

37,318

40,031

4.00%,

1/01/2046

(d)

83,951

91,239

3.50%,

2/01/2046

(d)

48,941

52,499

3.50%,

2/01/2046

(d)

59,877

63,970

4.50%,

6/01/2046

(d)

43,148

47,746

3.00%,

9/01/2046

(d)

90,348

95,188

3.50%,

9/01/2046

(d)

116,354

124,815

3.00%,

10/01/2046

(d)

179,804

189,436

3.00%,

11/01/2046

(d)

52,005

54,791

3.00%,

11/01/2046

(d)

19,663

20,716

3.00%,

11/01/2046

(d)

191,531

201,791

4.00%,

11/01/2046

(d)

166,893

181,110

3.50%,

2/01/2047

(d)

76,595

81,831

4.00%,

2/01/2047

(d)

302,308

328,556

3.50%,

4/01/2047

(d)

22,934

24,367

4.00%,

5/01/2047

(d)

54,690

58,933

4.50%,

5/01/2047

(d)

15,536

17,148

3.50%,

7/01/2047

(d)

213,332

230,844

3.00%,

8/01/2047

(d)

103,537

109,084

3.50%,

8/01/2047

(d)

96,496

102,526

3.50%,

10/01/2047

(d)

32,703

34,747

4.00%,

10/01/2047

(d)

94,399

101,723

3.50%,

12/01/2047

(d)

71,145

75,591

3.50%,

2/01/2048

(d)

57,125

60,695

3.50%,

3/01/2048

(d)

176,605

186,931

3.00%,

4/01/2048

(d)

226,647

240,789

3.50%,

4/01/2048

(d)

190,038

203,029

4.50%,

4/01/2048

(d)

17,959

19,414

4.50%,

8/01/2048

(d)

35,713

38,605

4.50%,

8/01/2048

(d)

295,307

323,925

4.00%,

9/01/2048

(d)

109,190

116,842

3.50%,

10/01/2048

(d)

47,862

50,854

4.50%,

10/01/2048

(d)

14,712

15,903

3.00%,

11/01/2048

(d)

155,416

163,742

3.50%,

4/01/2049

(d)

56,167

59,277

4.00%,

5/01/2049

(d)

76,675

82,048

4.50%,

5/01/2049

(d)

12,992

14,034

4.50%,

5/01/2049

(d)

30,397

32,858

4.00%,

6/01/2049

(d)

91,143

98,214

4.00%,

6/01/2049

(d)

231,546

249,511

80

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

National

Mortgage

Association

(continued)

3.50%,

7/01/2049

(d)

72,066

76,057

4.00%,

7/01/2049

(d)

74,603

79,780

5.00%,

7/01/2049

(d)

16,129

17,712

3.50%,

8/01/2049

(d)

154,099

162,632

4.50%,

8/01/2049

(d)

128,242

140,096

3.50%,

9/01/2049

(d)

101,091

106,688

4.00%,

9/01/2049

(d)

115,917

125,982

4.00%,

9/01/2049

(d)

24,702

26,417

4.50%,

9/01/2049

(d)

25,017

27,043

3.00%,

10/01/2049

(d)

136,450

142,343

3.00%,

11/01/2049

(d)

209,846

218,910

3.00%,

11/01/2049

(d)

132,237

137,949

4.50%,

11/01/2049

(d)

12,494

13,495

3.00%,

12/01/2049

(d)

84,755

88,416

3.50%,

12/01/2049

(d)

90,804

95,832

3.50%,

1/01/2050

(d)

57,931

61,139

3.00%,

2/01/2050

(d)

67,799

70,727

3.00%,

2/01/2050

(d)

122,825

128,129

3.00%,

3/01/2050

(d)

76,220

79,515

4.50%,

3/01/2050

(d)

109,592

118,467

4.00%,

4/01/2050

(d)

152,246

162,811

3.50%,

5/01/2050

(d)

141,204

149,277

3.50%,

5/01/2050

(d)

22,254

23,527

4.00%,

6/01/2050

(d)

38,645

41,327

4.00%,

6/01/2050

(d)

65,461

70,407

2.50%,

7/01/2050

(d)

104,168

107,078

3.00%,

7/01/2050

(d)

183,040

190,954

3.00%,

7/01/2050

(d)

73,449

76,624

3.00%,

7/01/2050

(d)

44,401

46,321

3.50%,

7/01/2050

(d)

37,985

40,156

4.00%,

7/01/2050

(d)

244,499

262,973

2.50%,

8/01/2050

(d)

220,214

226,366

2.50%,

8/01/2050

(d)

103,079

105,959

4.50%,

8/01/2050

(d)

53,865

58,661

2.00%,

9/01/2050

(d)

53,523

53,647

2.00%,

9/01/2050

(d)

44,654

44,757

2.00%,

9/01/2050

(d)

455,677

456,730

2.50%,

9/01/2050

(d)

83,285

85,612

3.00%,

9/01/2050

(d)

269,564

281,218

3.00%,

9/01/2050

(d)

61,272

63,918

2.00%,

10/01/2050

(d)

283,579

284,234

2.00%,

10/01/2050

(d)

90,511

90,721

2.50%,

11/01/2050

(d)

250,922

257,932

2.00%,

11/15/2050

(d)(e)

1,975,000

1,975,059

2.50%,

11/15/2050

(e)

950,000

975,868

3.00%,

11/15/2050

(d)(e)

250,000

260,793

3.50%,

11/15/2050

(d)(e)

175,000

184,875

4.00%,

11/15/2050

(d)(e)

100,000

107,054

2.00%,

12/01/2050

(d)

183,935

184,360

2.00%,

12/01/2050

(d)

140,197

140,521

2.00%,

12/15/2050

(d)(e)

500,000

499,035

2.50%,

12/15/2050

(d)(e)

350,000

358,694

2.00%,

1/01/2051

(d)

187,810

188,244

3.00%,

1/01/2051

(d)

79,323

82,752

1.50%,

2/01/2051

(d)

95,721

92,812

2.00%,

2/01/2051

(d)

92,968

93,183

2.00%,

2/01/2051

(d)

260,364

260,966

2.50%,

2/01/2051

(d)

280,036

287,859

2.50%,

2/01/2051

(d)

427,595

439,541

2.50%,

2/01/2051

(d)

93,125

95,758

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Federal

National

Mortgage

Association

(continued)

2.50%,

2/01/2051

(d)

22,530

23,160

2.50%,

2/01/2051

(d)

179,306

184,315

1.50%,

3/01/2051

(d)

72,532

70,251

2.00%,

3/01/2051

(d)

188,673

188,819

2.00%,

4/01/2051

(d)

192,919

193,069

2.00%,

4/01/2051

(d)

145,530

145,643

2.00%,

4/01/2051

(d)

239,676

239,861

2.50%,

4/01/2051

(d)

145,052

149,153

2.00%,

5/01/2051

(d)

245,292

245,482

2.00%,

5/01/2051

(d)

193,738

193,888

2.50%,

5/01/2051

(d)

391,766

402,843

3.00%,

5/01/2051

(d)

143,716

150,516

1.50%,

6/01/2051

(d)

24,548

23,776

1.50%,

6/01/2051

(d)

197,125

190,928

3.00%,

6/01/2051

(d)

193,524

202,680

2.00%,

7/01/2051

(d)

293,322

293,549

2.00%,

7/01/2051

(d)

564,336

564,774

2.50%,

7/01/2051

(d)

98,030

100,802

1.50%,

8/01/2051

(d)

98,866

95,757

2.00%,

8/01/2051

(d)

347,061

347,330

2.00%,

8/01/2051

(d)

297,501

297,732

2.00%,

8/01/2051

(d)

298,053

298,284

1.50%,

9/01/2051

(d)

124,060

120,160

2.00%,

9/01/2051

(d)

248,577

248,769

2.50%,

9/01/2051

(d)

98,695

101,485

1.50%,

10/01/2051

(d)

49,902

48,333

2.00%,

10/01/2051

(d)

398,416

398,725

2.00%,

10/01/2051

(d)

224,654

224,828

2.50%,

10/01/2051

(d)

374,255

384,837

5.00%,

11/15/2051

(d)(e)

200,000

219,968

5.50%,

11/15/2051

(d)(e)

200,000

224,125

Federal

National

Mortgage

Association

REMICs

Series

2014-M3,

Class

A2,

3.49%,

1/25/2024

(d)

15,243

15,921

Series

2018-M1,

Class

A2,

2.99%,

12/25/2027

(d)

45,952

49,583

Series

2019-M1,

Class

A2,

3.55%,

9/25/2028

(d)

25,000

28,268

Series

2019-M7,

Class

A2,

3.14%,

4/25/2029

(d)

20,000

22,112

Series

2019-M22,

Class

A2,

2.52%,

8/25/2029

(d)

40,000

42,614

Series

2020-M1,

Class

A1,

2.15%,

10/25/2029

(d)

29,879

30,963

Series

2020-M1,

Class

A2,

2.44%,

10/25/2029

(d)

200,000

212,111

Series

2018-M13,

Class

A2,

3.69%,

9/25/2030

(d)

10,000

11,512

Series

2021-M1G,

Class

A2,

1.51%,

11/25/2030

(d)

60,000

59,113

Series

2021-M13,

Class

2A1,

1.49%,

11/25/2032

(d)

99,108

99,129

Government

National

Mortgage

Association

2.00%,

11/15/2050

(e)

750,000

759,600

2.50%,

11/15/2050

(e)

450,000

462,546

3.00%,

11/15/2050

(e)

1,250,000

1,297,400

4.50%,

11/15/2050

(e)

200,000

213,224

3.50%,

11/15/2051

(e)

200,000

209,098

2.00%,

12/15/2051

(e)

100,000

101,055

81

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Government

National

Mortgage

Association

II

3.50%,

10/20/2026

30,010

31,825

5.00%,

9/20/2039

91,323

104,385

4.00%,

10/20/2040

25,485

28,006

5.00%,

10/20/2040

32,116

36,707

4.00%,

11/20/2040

67,840

74,549

4.50%,

1/20/2041

17,437

19,444

4.00%,

11/20/2041

23,112

25,374

3.00%,

6/20/2042

26,590

28,154

3.00%,

8/20/2042

65,633

69,494

3.50%,

2/20/2043

54,184

58,413

2.50%,

3/20/2043

16,037

16,639

3.00%,

4/20/2043

84,427

89,317

3.50%,

7/20/2043

108,578

117,453

4.00%,

11/20/2044

289,280

314,788

4.50%,

1/20/2045

36,256

40,200

3.50%,

2/20/2045

45,044

48,020

3.50%,

6/20/2045

192,773

204,897

3.00%,

8/20/2045

73,204

77,027

3.50%,

3/20/2046

34,433

36,466

4.00%,

3/20/2046

45,809

49,757

3.00%,

4/20/2046

20,932

21,932

4.00%,

6/20/2046

61,845

66,852

2.50%,

7/20/2046

39,372

40,739

3.00%,

9/20/2046

19,681

20,622

2.50%,

10/20/2046

12,345

12,774

3.00%,

10/20/2046

53,229

55,774

3.00%,

11/20/2046

54,432

57,033

3.50%,

11/20/2046

126,591

134,067

3.00%,

1/20/2047

120,172

125,916

3.50%,

2/20/2047

479,336

507,645

3.00%,

5/20/2047

99,096

103,496

3.50%,

5/20/2047

172,311

181,596

4.00%,

8/20/2047

36,148

38,766

4.50%,

9/20/2047

50,472

54,403

3.00%,

10/20/2047

15,320

16,000

3.50%,

2/20/2048

33,062

34,844

4.00%,

4/20/2048

89,487

95,372

4.50%,

6/20/2048

45,086

48,184

5.00%,

6/20/2048

13,227

14,355

4.00%,

7/20/2048

19,630

20,921

4.00%,

9/20/2048

20,017

21,333

4.00%,

11/20/2048

58,951

62,828

4.50%,

11/20/2048

33,502

35,804

3.50%,

1/20/2049

161,912

170,637

4.00%,

2/20/2049

31,673

33,756

3.50%,

3/20/2049

36,141

38,061

3.00%,

1/20/2050

9,560

9,925

3.50%,

4/20/2050

22,750

23,823

4.00%,

5/20/2050

23,076

24,515

5.00%,

5/20/2050

52,951

57,467

2.50%,

7/20/2050

32,296

33,209

3.00%,

7/20/2050

57,061

59,286

3.50%,

7/20/2050

42,726

44,911

3.00%,

8/20/2050

15,362

15,961

4.00%,

8/20/2050

138,048

146,657

4.50%,

8/20/2050

34,513

37,159

2.50%,

9/20/2050

37,734

38,800

4.50%,

9/20/2050

28,562

30,752

3.00%,

11/20/2050

55,014

57,159

2.00%,

12/20/2050

334,030

338,597

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

29.7%

(continued)

Government

National

Mortgage

Association

II

(continued)

3.50%,

12/20/2050

18,276

19,211

2.00%,

1/20/2051

302,325

306,457

2.50%,

1/20/2051

43,537

44,767

2.50%,

2/20/2051

241,051

248,079

3.00%,

2/20/2051

295,616

307,146

2.50%,

3/20/2051

164,308

169,099

4.00%,

3/20/2051

88,376

93,887

2.00%,

4/20/2051

313,819

318,069

2.50%,

4/20/2051

364,473

375,099

3.50%,

4/20/2051

161,290

169,539

2.00%,

5/20/2051

340,985

345,604

2.50%,

5/20/2051

339,620

349,522

2.00%,

7/20/2051

444,731

450,755

2.50%,

7/20/2051

518,092

533,197

2.50%,

8/20/2051

322,291

331,688

Tennessee

Valley

Authority,

5.25%,

9/15/2039

145,000

206,271

Total

U.S.

Government

Agencies

(cost

$58,297,582)

57,851,553

U.S.

Treasury

Government

Securities

–

37.9%

U.S.

Treasury

Bonds

7.13%,

2/15/2023

200,000

217,320

6.25%,

5/15/2030

20,000

27,634

5.38%,

2/15/2031

(a)

405,000

540,612

4.50%,

2/15/2036

(a)

95,000

130,491

4.75%,

2/15/2037

100,000

141,906

5.00%,

5/15/2037

150,000

218,414

4.50%,

5/15/2038

100,000

139,422

3.50%,

2/15/2039

100,000

124,875

4.25%,

5/15/2039

20,000

27,309

4.38%,

11/15/2039

200,000

277,250

4.63%,

2/15/2040

35,000

50,050

1.13%,

5/15/2040

445,000

385,620

4.38%,

5/15/2040

60,000

83,578

1.13%,

8/15/2040

500,000

432,500

3.88%,

8/15/2040

50,000

65,602

1.38%,

11/15/2040

380,000

343,306

4.25%,

11/15/2040

34,000

46,707

1.88%,

2/15/2041

485,000

477,119

4.75%,

2/15/2041

45,000

65,735

2.25%,

5/15/2041

595,000

621,682

4.38%,

5/15/2041

85,000

119,080

1.75%,

8/15/2041

315,000

303,286

3.75%,

8/15/2041

15,000

19,441

3.13%,

11/15/2041

250,000

298,242

3.13%,

2/15/2042

55,000

65,751

3.00%,

5/15/2042

125,000

146,816

2.75%,

8/15/2042

72,000

81,439

2.75%,

11/15/2042

417,000

471,471

3.13%,

2/15/2043

120,000

143,831

2.88%,

5/15/2043

300,000

346,547

3.63%,

8/15/2043

100,000

129,125

3.75%,

11/15/2043

300,000

394,687

3.63%,

2/15/2044

150,000

194,508

3.38%,

5/15/2044

150,000

188,086

3.13%,

8/15/2044

170,000

205,408

3.00%,

11/15/2044

115,000

136,598

2.50%,

2/15/2045

255,000

279,225

3.00%,

5/15/2045

75,000

89,543

2.88%,

8/15/2045

100,000

117,109

82

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

37.9%

(continued)

U.S.

Treasury

Bonds

(continued)

2.50%,

2/15/2046

150,000

165,164

2.50%,

5/15/2046

155,000

170,815

2.25%,

8/15/2046

150,000

158,086

2.88%,

11/15/2046

410,000

485,273

3.00%,

2/15/2047

265,000

321,271

3.00%,

5/15/2047

40,000

48,587

2.75%,

8/15/2047

190,000

220,816

2.75%,

11/15/2047

225,000

261,703

3.00%,

2/15/2048

316,000

384,730

3.13%,

5/15/2048

410,000

511,091

3.00%,

8/15/2048

375,000

457,676

3.38%,

11/15/2048

345,000

450,225

3.00%,

2/15/2049

365,000

447,125

2.88%,

5/15/2049

(a)

275,000

330,086

2.25%,

8/15/2049

355,000

378,297

2.38%,

11/15/2049

(a)

230,000

251,670

2.00%,

2/15/2050

470,000

475,287

1.25%,

5/15/2050

463,000

391,741

1.38%,

8/15/2050

580,000

505,687

1.63%,

11/15/2050

510,000

473,184

1.88%,

2/15/2051

515,000

506,712

2.38%,

5/15/2051

485,000

533,273

2.00%,

8/15/2051

450,000

456,609

U.S.

Treasury

Notes

1.63%,

11/15/2022

5,000

5,076

0.13%,

11/30/2022

300,000

299,859

2.00%,

11/30/2022

210,000

214,151

1.63%,

12/15/2022

355,000

360,672

0.13%,

12/31/2022

230,000

229,739

2.13%,

12/31/2022

400,000

408,844

1.50%,

1/15/2023

280,000

284,266

0.13%,

1/31/2023

625,000

624,023

1.75%,

1/31/2023

100,000

101,863

2.38%,

1/31/2023

300,000

307,910

1.38%,

2/15/2023

100,000

101,430

2.00%,

2/15/2023

365,000

373,170

0.13%,

2/28/2023

320,000

319,325

1.50%,

2/28/2023

171,000

173,752

2.63%,

2/28/2023

250,000

257,744

0.50%,

3/15/2023

185,000

185,499

0.13%,

3/31/2023

325,000

324,111

1.50%,

3/31/2023

25,000

25,415

2.50%,

3/31/2023

300,000

309,187

0.25%,

4/15/2023

195,000

194,787

0.13%,

4/30/2023

700,000

697,621

1.63%,

4/30/2023

100,000

101,906

2.75%,

4/30/2023

100,000

103,582

0.13%,

5/15/2023

245,000

244,120

1.75%,

5/15/2023

605,000

617,880

0.13%,

5/31/2023

470,000

468,164

1.63%,

5/31/2023

200,000

203,961

2.75%,

5/31/2023

150,000

155,631

0.25%,

6/15/2023

180,000

179,613

0.13%,

6/30/2023

(a)

475,000

472,922

1.38%,

6/30/2023

225,000

228,700

2.63%,

6/30/2023

200,000

207,375

0.13%,

7/15/2023

325,000

323,451

0.13%,

7/31/2023

300,000

298,441

1.25%,

7/31/2023

100,000

101,438

2.75%,

7/31/2023

200,000

208,109

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

37.9%

(continued)

U.S.

Treasury

Notes

(continued)

0.13%,

8/15/2023

240,000

238,688

2.50%,

8/15/2023

200,000

207,336

0.13%,

8/31/2023

(a)

385,000

382,789

1.38%,

8/31/2023

100,000

101,676

2.75%,

8/31/2023

100,000

104,180

0.13%,

9/15/2023

275,000

273,281

0.25%,

9/30/2023

(a)

420,000

418,343

1.38%,

9/30/2023

130,000

132,229

2.88%,

9/30/2023

(a)

100,000

104,543

0.13%,

10/15/2023

500,000

496,523

1.63%,

10/31/2023

200,000

204,461

2.88%,

10/31/2023

200,000

209,438

0.25%,

11/15/2023

500,000

497,305

2.75%,

11/15/2023

225,000

235,213

2.13%,

11/30/2023

200,000

206,609

2.88%,

11/30/2023

350,000

366,953

0.13%,

12/15/2023

445,000

441,071

2.25%,

12/31/2023

200,000

207,250

2.63%,

12/31/2023

200,000

208,859

0.13%,

1/15/2024

500,000

495,156

2.25%,

1/31/2024

(a)

200,000

207,469

2.50%,

1/31/2024

200,000

208,563

0.13%,

2/15/2024

(a)

430,000

425,633

2.75%,

2/15/2024

200,000

209,844

2.13%,

2/29/2024

200,000

207,078

2.38%,

2/29/2024

200,000

208,203

0.25%,

3/15/2024

520,000

515,491

2.13%,

3/31/2024

250,000

258,906

0.38%,

4/15/2024

490,000

486,746

2.00%,

4/30/2024

141,000

145,726

2.25%,

4/30/2024

200,000

207,922

0.25%,

5/15/2024

400,000

395,844

2.50%,

5/15/2024

295,000

308,667

2.00%,

5/31/2024

350,000

361,895

0.25%,

6/15/2024

415,000

410,266

1.75%,

6/30/2024

250,000

256,973

2.00%,

6/30/2024

80,000

82,775

0.38%,

7/15/2024

(a)

540,000

535,275

1.75%,

7/31/2024

300,000

308,578

2.13%,

7/31/2024

250,000

259,707

0.38%,

8/15/2024

(a)

370,000

366,589

2.38%,

8/15/2024

550,000

575,180

1.25%,

8/31/2024

100,000

101,477

1.88%,

8/31/2024

300,000

309,680

0.38%,

9/15/2024

(a)

505,000

499,911

1.50%,

9/30/2024

400,000

408,688

2.13%,

9/30/2024

100,000

103,969

1.50%,

10/31/2024

(a)

400,000

408,750

2.25%,

10/31/2024

81,000

84,575

2.25%,

11/15/2024

625,000

652,783

1.50%,

11/30/2024

200,000

204,328

2.13%,

11/30/2024

130,000

135,302

1.75%,

12/31/2024

100,000

102,961

2.25%,

12/31/2024

125,000

130,615

1.38%,

1/31/2025

75,000

76,307

2.50%,

1/31/2025

100,000

105,367

2.00%,

2/15/2025

350,000

363,180

1.13%,

2/28/2025

(a)

85,000

85,730

2.75%,

2/28/2025

175,000

185,910

0.50%,

3/31/2025

155,000

152,978

83

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

37.9%

(continued)

U.S.

Treasury

Notes

(continued)

0.38%,

4/30/2025

600,000

588,656

2.88%,

4/30/2025

500,000

533,672

2.13%,

5/15/2025

605,000

630,193

0.25%,

5/31/2025

610,000

595,036

2.88%,

5/31/2025

200,000

213,672

0.25%,

6/30/2025

300,000

292,289

0.25%,

7/31/2025

400,000

389,250

2.00%,

8/15/2025

380,000

394,428

0.25%,

8/31/2025

265,000

257,464

0.25%,

9/30/2025

635,000

616,396

3.00%,

9/30/2025

50,000

53,844

0.25%,

10/31/2025

(a)

500,000

484,492

2.25%,

11/15/2025

490,000

513,620

0.38%,

11/30/2025

450,000

437,590

2.88%,

11/30/2025

100,000

107,313

0.38%,

12/31/2025

(a)

290,000

281,663

0.38%,

1/31/2026

275,000

266,729

2.63%,

1/31/2026

40,000

42,566

1.63%,

2/15/2026

315,000

322,063

0.50%,

2/28/2026

320,000

311,750

2.50%,

2/28/2026

60,000

63,567

0.75%,

3/31/2026

285,000

280,391

2.25%,

3/31/2026

150,000

157,371

0.75%,

4/30/2026

350,000

344,039

2.38%,

4/30/2026

200,000

210,953

1.63%,

5/15/2026

545,000

556,879

0.75%,

5/31/2026

300,000

294,703

2.13%,

5/31/2026

100,000

104,430

0.88%,

6/30/2026

525,000

518,150

1.88%,

6/30/2026

140,000

144,659

0.63%,

7/31/2026

605,000

589,686

1.88%,

7/31/2026

274,000

283,098

1.50%,

8/15/2026

295,000

299,540

0.75%,

8/31/2026

790,000

774,138

1.38%,

8/31/2026

150,000

151,465

0.88%,

9/30/2026

(a)

430,000

423,684

1.63%,

9/30/2026

(a)

100,000

102,141

1.13%,

10/31/2026

445,000

443,522

1.63%,

10/31/2026

200,000

204,281

2.00%,

11/15/2026

475,000

493,629

1.63%,

11/30/2026

150,000

153,152

1.75%,

12/31/2026

(a)

250,000

256,777

1.50%,

1/31/2027

200,000

202,813

2.25%,

2/15/2027

500,000

525,820

1.13%,

2/28/2027

150,000

149,098

0.63%,

3/31/2027

(a)

300,000

290,063

0.50%,

4/30/2027

(a)

335,000

321,129

2.38%,

5/15/2027

285,000

301,677

0.50%,

5/31/2027

405,000

387,661

0.50%,

6/30/2027

(a)

400,000

382,500

0.38%,

7/31/2027

525,000

498,094

2.25%,

8/15/2027

525,000

552,316

0.50%,

8/31/2027

470,000

448,116

0.38%,

9/30/2027

300,000

283,617

0.50%,

10/31/2027

340,000

323,345

2.25%,

11/15/2027

330,000

347,273

0.63%,

11/30/2027

400,000

382,781

0.63%,

12/31/2027

330,000

315,305

0.75%,

1/31/2028

(a)

310,000

298,060

2.75%,

2/15/2028

375,000

405,967

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

37.9%

(continued)

U.S.

Treasury

Notes

(continued)

1.13%,

2/29/2028

(a)

310,000

305,084

1.25%,

3/31/2028

310,000

306,948

1.25%,

4/30/2028

405,000

400,855

2.88%,

5/15/2028

532,000

580,628

1.25%,

5/31/2028

225,000

222,504

1.25%,

6/30/2028

230,000

227,161

1.00%,

7/31/2028

310,000

300,991

2.88%,

8/15/2028

319,000

348,856

1.13%,

8/31/2028

395,000

386,421

1.25%,

9/30/2028

435,000

428,883

1.38%,

10/31/2028

455,000

452,352

3.13%,

11/15/2028

575,000

639,508

2.63%,

2/15/2029

597,000

644,853

2.38%,

5/15/2029

(a)

205,000

218,133

1.63%,

8/15/2029

(a)

240,000

242,888

1.75%,

11/15/2029

140,000

143,041

1.50%,

2/15/2030

417,000

417,456

0.63%,

5/15/2030

525,000

487,840

0.63%,

8/15/2030

725,000

671,984

0.88%,

11/15/2030

(a)

720,000

680,738

1.13%,

2/15/2031

(a)

780,000

752,822

1.63%,

5/15/2031

820,000

826,150

1.25%,

8/15/2031

(a)

750,000

728,789

Total

U.S.

Treasury

Government

Securities

(cost

$74,758,931)

73,847,375

Shares

Investment

Companies

–

4.6%

Registered

Investment

Companies

–

4.6%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$8,924,030)

8,924,030

8,924,030

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.9%

Registered

Investment

Companies

–

1.9%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$3,594,325)

3,594,325

3,594,325

Total

Investments

Before

TBA

Sale

Commitments  (cost

$206,635,078)

105.4%

205,228,430

TBA

Sale

Commitments

–

(

0.1%

)

Principal

Amount

($)

Federal

National

Mortgage

Association,

3.50%,

11/15/2036

(d)(h)

50,000

(53,074)

Government

National

Mortgage

Association,

4.00%,

11/15/2050

(h)

200,000

(212,048)

Total

TBA

Sale

Commitments

(cost

$(265,632))

(265,122)

Total

Investments

(cost

$206,369,446)

105.3%

204,963,308

Liabilities,

Less

Cash

and

Receivables

(5.3)%

(10,214,197)

Net

Assets

100.0%

194,749,111

GO—General

Obligation

RB—Revenue

Bond

REMICs—Real

Estate

Mortgage

Investment

Conduits

84

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$10,348,159

and

the

value

of

the

collateral

was

$10,629,427,

consisting

of

cash

collateral

of

$3,594,325

and

U.S.

Government

&

Agency

securities

valued

at

$7,035,102.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021,

these

securities

were

valued

at

$488,423

or

0.25%

of

net

assets.

(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,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

(h)

Sales

on

a

forward

commitment

basis.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,088,560

71,856,392

(64,020,922)

—

—

8,924,030

4.6

720

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

88,150

12,234,052

(8,727,877)

—

—

3,594,325

1.9

3,713

2

Total

1,176,710

84,090,444

(72,748,799)

—

—

12,518,355

6.5

4,433

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

(%)

Government

41.8

Financial

38.9

Registered

Investment

Companies

6.5

Consumer,

Non-cyclical

4.6

Communications

2.9

Utilities

2.3

Industrial

2.2

Energy

2.2

Technology

1.7

Consumer,

Cyclical

1.6

Basic

Materials

0.7

TBA

Sale

Commitments

(0.1)

105.3

†

Based

on

net

assets.

85

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

Basic

Materials

–

1.3%

Air

Products

&

Chemicals,

Inc.,

1.50%,

10/15/2025

25,000

25,264

Albemarle

Corp.,

4.15%,

12/01/2024

10,000

10,815

Arcelormittal

SA,

4.55%,

3/11/2026

50,000

54,917

Celanese

US

Holdings

LLC,

3.50%,

5/08/2024

25,000

26,400

Dow

Chemical

Co.

(The),

3.63%,

5/15/2026

25,000

27,095

DuPont

de

Nemours,

Inc.

4.21%,

11/15/2023

50,000

53,283

4.49%,

11/15/2025

50,000

55,645

Eastman

Chemical

Co.,

3.80%,

3/15/2025

25,000

26,831

Georgia-Pacific

LLC,

8.00%,

1/15/2024

25,000

28,808

LYB

International

Finance

BV,

4.00%,

7/15/2023

30,000

31,625

Mosaic

Co.

(The),

4.25%,

11/15/2023

25,000

26,508

Nucor

Corp.,

2.00%,

6/01/2025

25,000

25,500

PPG

Industries,

Inc.,

1.20%,

3/15/2026

25,000

24,567

Reliance

Steel

&

Aluminum

Co.,

1.30%,

8/15/2025

25,000

24,719

Rio

Tinto

Finance

USA

Ltd.,

3.75%,

6/15/2025

25,000

27,199

Steel

Dynamics,

Inc.,

2.40%,

6/15/2025

50,000

51,507

Vale

Overseas

Ltd.,

6.25%,

8/10/2026

50,000

58,035

578,718

Communications

–

5.4%

Alphabet,

Inc.

3.38%,

2/25/2024

25,000

26,502

0.45%,

8/15/2025

25,000

24,461

2.00%,

8/15/2026

50,000

51,615

Amazon.com,

Inc.

2.40%,

2/22/2023

10,000

10,237

0.25%,

5/12/2023

25,000

24,926

0.40%,

6/03/2023

10,000

9,995

0.45%,

5/12/2024

40,000

39,704

2.80%,

8/22/2024

85,000

89,291

0.80%,

6/03/2025

20,000

19,807

1.00%,

5/12/2026

70,000

69,361

AT&T,

Inc.

2.63%,

12/01/2022

25,000

25,427

0.90%,

3/25/2024

50,000

50,008

3.40%,

5/15/2025

(a)

45,000

48,079

4.13%,

2/17/2026

25,000

27,548

1.70%,

3/25/2026

50,000

50,219

2.95%,

7/15/2026

50,000

52,959

Booking

Holdings,

Inc.,

3.65%,

3/15/2025

50,000

53,820

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital,

4.91%,

7/23/2025

75,000

83,404

Cisco

Systems,

Inc.

2.20%,

9/20/2023

70,000

72,019

3.63%,

3/04/2024

10,000

10,673

Cisco

Systems,

Inc./Delaware,

2.50%,

9/20/2026

35,000

37,045

Comcast

Cable

Communications

Holdings,

Inc.,

9.46%,

11/15/2022

50,000

54,670

Comcast

Corp.

3.60%,

3/01/2024

20,000

21,281

3.38%,

2/15/2025

60,000

64,010

3.10%,

4/01/2025

20,000

21,194

3.38%,

8/15/2025

25,000

26,828

3.95%,

10/15/2025

75,000

82,393

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Communications

–

5.4%

(continued)

Discovery

Communications

LLC

2.95%,

3/20/2023

27,000

27,796

3.45%,

3/15/2025

60,000

63,570

eBay,

Inc.

2.75%,

1/30/2023

25,000

25,622

3.45%,

8/01/2024

25,000

26,495

1.90%,

3/11/2025

25,000

25,490

1.40%,

5/10/2026

35,000

34,686

Expedia

Group,

Inc.,

4.50%,

8/15/2024

15,000

16,172

Fox

Corp.,

3.05%,

4/07/2025

25,000

26,393

Juniper

Networks,

Inc.,

1.20%,

12/10/2025

25,000

24,660

Motorola

Solutions,

Inc.,

4.00%,

9/01/2024

25,000

26,908

Omnicom

Group,

Inc.

/

Omnicom

Capital,

Inc.,

3.65%,

11/01/2024

45,000

48,042

Rogers

Communications,

Inc.,

4.10%,

10/01/2023

50,000

52,702

TCI

Communications,

Inc.,

7.88%,

2/15/2026

20,000

25,280

T-Mobile

USA,

Inc.,

1.50%,

2/15/2026

110,000

109,203

TWDC

Enterprises

18

Corp.,

2.35%,

12/01/2022

25,000

25,479

VeriSign,

Inc.,

5.25%,

4/01/2025

25,000

27,912

Verizon

Communications,

Inc.

3.38%,

2/15/2025

75,000

80,111

0.85%,

11/20/2025

50,000

48,957

1.45%,

3/20/2026

70,000

69,809

2.63%,

8/15/2026

50,000

52,345

ViacomCBS,

Inc.

3.70%,

8/15/2024

45,000

47,940

4.75%,

5/15/2025

50,000

55,476

Vodafone

Group

PLC,

3.75%,

1/16/2024

50,000

53,221

Walt

Disney

Co.

(The)

3.70%,

9/15/2024

50,000

53,590

3.70%,

10/15/2025

75,000

81,459

1.75%,

1/13/2026

25,000

25,360

WPP

Finance

2010,

3.75%,

9/19/2024

50,000

53,656

2,355,810

Consumer,

Cyclical

–

7.0%

American

Honda

Finance

Corp.

0.88%,

7/07/2023

75,000

75,383

3.45%,

7/14/2023

30,000

31,418

2.15%,

9/10/2024

70,000

72,241

1.20%,

7/08/2025

25,000

24,938

1.30%,

9/09/2026

50,000

49,620

Autonation,

Inc.,

3.50%,

11/15/2024

25,000

26,531

AutoZone,

Inc.

3.13%,

7/15/2023

50,000

51,782

3.13%,

4/18/2024

15,000

15,740

Continental

Airlines

Pass-Through

Trust,

Series

2012-2,

Class

A,

4.00%,

10/29/2024

15,030

15,728

Costco

Wholesale

Corp.,

2.75%,

5/18/2024

45,000

47,104

Cummins,

Inc.,

0.75%,

9/01/2025

25,000

24,630

D.R.

Horton,

Inc.

5.75%,

8/15/2023

25,000

26,897

2.50%,

10/15/2024

10,000

10,409

Delta

Air

Lines

Pass

Through

Trust,

Series

2019-

1,

Class

AA,

3.20%,

4/25/2024

25,000

26,016

Dollar

General

Corp.,

4.15%,

11/01/2025

25,000

27,484

Dollar

Tree,

Inc.

3.70%,

5/15/2023

25,000

26,061

86

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Cyclical

–

7.0%

(continued)

4.00%,

5/15/2025

50,000

54,155

General

Motors

Co.

4.88%,

10/02/2023

75,000

80,470

5.40%,

10/02/2023

25,000

27,065

4.00%,

4/01/2025

25,000

26,962

6.13%,

10/01/2025

25,000

28,979

General

Motors

Financial

Co.,

Inc.

3.25%,

1/05/2023

100,000

102,717

3.70%,

5/09/2023

10,000

10,383

1.70%,

8/18/2023

25,000

25,358

3.95%,

4/13/2024

25,000

26,535

4.00%,

1/15/2025

50,000

53,503

2.90%,

2/26/2025

50,000

52,001

2.75%,

6/20/2025

25,000

25,953

1.25%,

1/08/2026

25,000

24,489

1.50%,

6/10/2026

25,000

24,599

Hasbro,

Inc.,

3.00%,

11/19/2024

25,000

26,320

Home

Depot,

Inc.

(The)

2.70%,

4/01/2023

25,000

25,663

3.00%,

4/01/2026

50,000

53,419

Hyatt

Hotels

Corp.

3.38%,

7/15/2023

25,000

25,858

5.38%,

4/23/2025

25,000

27,847

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

90,000

92,011

Lennar

Corp.

4.88%,

12/15/2023

10,000

10,723

4.50%,

4/30/2024

25,000

26,843

5.25%,

6/01/2026

25,000

28,430

Lowe's

Cos.,

Inc.

3.13%,

9/15/2024

15,000

15,835

4.00%,

4/15/2025

50,000

54,440

Magna

International,

Inc.,

4.15%,

10/01/2025

25,000

27,465

Marriott

International,

Inc.

Series

EE,

5.75%,

5/01/2025

6,000

6,801

Series

R,

3.13%,

6/15/2026

75,000

79,394

McDonald's

Corp.

3.30%,

7/01/2025

75,000

80,081

1.45%,

9/01/2025

25,000

25,146

3.70%,

1/30/2026

25,000

27,176

Nike,

Inc.,

2.40%,

3/27/2025

50,000

52,082

O'Reilly

Automotive,

Inc.,

3.55%,

3/15/2026

25,000

27,085

PACCAR

Financial

Corp.

0.35%,

8/11/2023

25,000

24,907

1.10%,

5/11/2026

10,000

9,906

PulteGroup,

Inc.,

5.50%,

3/01/2026

50,000

57,467

PVH

Corp.,

4.63%,

7/10/2025

25,000

27,404

Ross

Stores,

Inc.,

4.60%,

4/15/2025

25,000

27,626

Southwest

Airlines

Co.,

5.25%,

5/04/2025

50,000

56,051

Starbucks

Corp.,

3.10%,

3/01/2023

50,000

51,559

Stellantis

NV,

5.25%,

4/15/2023

25,000

26,553

Tapestry,

Inc.,

4.25%,

4/01/2025

25,000

26,987

Target

Corp.,

2.25%,

4/15/2025

50,000

51,881

Toyota

Motor

Corp.

0.68%,

3/25/2024

110,000

109,522

1.34%,

3/25/2026

25,000

24,944

Toyota

Motor

Credit

Corp.

2.90%,

3/30/2023

25,000

25,842

0.40%,

4/06/2023

75,000

74,874

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Cyclical

–

7.0%

(continued)

3.45%,

9/20/2023

50,000

52,648

2.90%,

4/17/2024

25,000

26,228

3.00%,

4/01/2025

50,000

52,942

3.40%,

4/14/2025

25,000

26,834

0.80%,

10/16/2025

40,000

39,216

1.13%,

6/18/2026

35,000

34,510

United

Airlines

Pass-Through

Trust

Series

2012-1,

,

Class

A4.15%,

4/11/2024

14,541

15,217

Series

2014-1,

,

Class

A4.00%,

4/11/2026

12,850

13,555

VF

Corp.,

2.40%,

4/23/2025

25,000

25,863

Walgreens

Boots

Alliance,

Inc.,

3.80%,

11/18/2024

50,000

53,625

Walmart,

Inc.

2.35%,

12/15/2022

125,000

127,609

2.85%,

7/08/2024

85,000

89,495

3.55%,

6/26/2025

(a)

25,000

27,293

WW

Grainger,

Inc.,

1.85%,

2/15/2025

25,000

25,668

3,033,996

Consumer,

Non-cyclical

–

13.8%

Abbott

Laboratories

3.40%,

11/30/2023

25,000

26,307

2.95%,

3/15/2025

50,000

52,939

AbbVie,

Inc.

3.20%,

11/06/2022

25,000

25,557

2.30%,

11/21/2022

75,000

76,383

2.85%,

5/14/2023

45,000

46,317

3.85%,

6/15/2024

25,000

26,680

2.60%,

11/21/2024

100,000

104,252

3.80%,

3/15/2025

50,000

53,846

3.60%,

5/14/2025

70,000

75,141

3.20%,

5/14/2026

75,000

79,895

Aetna,

Inc.,

2.80%,

6/15/2023

50,000

51,533

Altria

Group,

Inc.

2.35%,

5/06/2025

25,000

25,744

2.63%,

9/16/2026

50,000

51,933

AmerisourceBergen

Corp.,

0.74%,

3/15/2023

50,000

50,026

Amgen,

Inc.

2.25%,

8/19/2023

25,000

25,657

3.13%,

5/01/2025

25,000

26,452

2.60%,

8/19/2026

50,000

52,220

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.,

3.65%,

2/01/2026

50,000

54,343

Anheuser-Busch

InBev

Finance,

Inc.,

3.65%,

2/01/2026

50,000

54,174

Anthem,

Inc.

3.30%,

1/15/2023

25,000

25,823

3.50%,

8/15/2024

25,000

26,577

3.35%,

12/01/2024

25,000

26,649

2.38%,

1/15/2025

75,000

77,605

AstraZeneca

Finance

LLC,

1.20%,

5/28/2026

100,000

99,148

AstraZeneca

PLC

3.38%,

11/16/2025

50,000

54,071

0.70%,

4/08/2026

25,000

24,249

BAT

Capital

Corp.

3.22%,

8/15/2024

65,000

68,258

2.79%,

9/06/2024

25,000

26,013

3.22%,

9/06/2026

25,000

26,278

87

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

13.8%

(continued)

BAT

International

Finance

PLC,

1.67%,

3/25/2026

50,000

49,426

Becton,

Dickinson

&

Co.

3.36%,

6/06/2024

25,000

26,360

3.73%,

12/15/2024

35,000

37,570

Biogen,

Inc.,

4.05%,

9/15/2025

75,000

82,028

Boston

Scientific

Corp.,

3.45%,

3/01/2024

50,000

52,717

Bristol-Myers

Squibb

Co.

2.75%,

2/15/2023

45,000

46,228

2.90%,

7/26/2024

50,000

52,618

3.88%,

8/15/2025

25,000

27,281

0.75%,

11/13/2025

15,000

14,709

3.20%,

6/15/2026

75,000

81,009

Bunge

Ltd.

Finance

Corp.,

1.63%,

8/17/2025

45,000

45,169

Campbell

Soup

Co.,

3.95%,

3/15/2025

10,000

10,818

Cardinal

Health,

Inc.,

3.08%,

6/15/2024

50,000

52,440

Cigna

Corp.

3.05%,

11/30/2022

60,000

61,517

3.75%,

7/15/2023

41,000

43,052

3.50%,

6/15/2024

25,000

26,500

1.25%,

3/15/2026

(a)

50,000

49,453

Clorox

Co.

(The),

3.50%,

12/15/2024

25,000

26,771

Coca-Cola

Consolidated,

Inc.,

3.80%,

11/25/2025

25,000

27,147

Commonspirit

Health,

2.76%,

10/01/2024

25,000

26,081

ConAgra

Brands,

Inc.,

4.30%,

5/01/2024

25,000

26,925

Constellation

Brands,

Inc.,

3.20%,

2/15/2023

65,000

66,967

CVS

Health

Corp.

3.70%,

3/09/2023

41,000

42,602

4.00%,

12/05/2023

10,000

10,592

3.38%,

8/12/2024

75,000

79,403

4.10%,

3/25/2025

60,000

65,280

2.88%,

6/01/2026

25,000

26,311

DH

Europe

Finance

II

Sarl,

2.05%,

11/15/2022

50,000

50,793

Diageo

Capital

PLC,

2.63%,

4/29/2023

50,000

51,268

Equifax,

Inc.

2.60%,

12/01/2024

25,000

26,043

2.60%,

12/15/2025

50,000

52,035

Estee

Lauder

Cos.,

Inc.

(The),

2.00%,

12/01/2024

35,000

36,138

General

Mills,

Inc.

3.65%,

2/15/2024

10,000

10,568

4.00%,

4/17/2025

25,000

27,178

Gilead

Sciences,

Inc.

0.75%,

9/29/2023

100,000

99,879

3.50%,

2/01/2025

25,000

26,643

3.65%,

3/01/2026

25,000

27,088

GlaxoSmithKline

Capital

PLC,

3.00%,

6/01/2024

20,000

21,048

GlaxoSmithKline

Capital,

Inc.

2.80%,

3/18/2023

25,000

25,784

3.38%,

5/15/2023

50,000

52,169

Global

Payments,

Inc.

2.65%,

2/15/2025

50,000

51,808

4.80%,

4/01/2026

25,000

27,976

GXO

Logistics,

Inc.,

1.65%,

7/15/2026

(b)

25,000

24,568

HCA,

Inc.

4.75%,

5/01/2023

45,000

47,564

5.00%,

3/15/2024

30,000

32,641

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

13.8%

(continued)

5.25%,

4/15/2025

25,000

28,024

5.25%,

6/15/2026

50,000

56,725

Hershey

Co.

(The),

0.90%,

6/01/2025

50,000

49,653

Hormel

Foods

Corp.,

0.65%,

6/03/2024

15,000

14,943

Humana,

Inc.

2.90%,

12/15/2022

50,000

51,179

3.85%,

10/01/2024

15,000

16,102

Johnson

&

Johnson

2.05%,

3/01/2023

50,000

50,940

3.38%,

12/05/2023

25,000

26,478

2.45%,

3/01/2026

50,000

52,485

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

16,000

16,804

3.13%,

12/15/2023

25,000

26,178

0.75%,

3/15/2024

35,000

34,861

3.40%,

11/15/2025

25,000

26,797

Kimberly-Clark

Corp.,

3.05%,

8/15/2025

25,000

26,691

Kroger

Co.

(The),

3.50%,

2/01/2026

25,000

27,125

Laboratory

Corp.

of

America

Holdings

3.25%,

9/01/2024

10,000

10,561

3.60%,

2/01/2025

50,000

53,246

McCormick

&

Co.,

Inc.,

0.90%,

2/15/2026

10,000

9,722

McKesson

Corp.,

2.85%,

3/15/2023

50,000

51,174

Medtronic,

Inc.,

3.50%,

3/15/2025

34,000

36,660

Merck

&

Co.,

Inc.

2.80%,

5/18/2023

25,000

25,875

2.90%,

3/07/2024

85,000

89,018

2.75%,

2/10/2025

40,000

41,959

Molson

Coors

Beverage

Co.,

3.00%,

7/15/2026

35,000

37,089

Mondelez

International,

Inc.,

1.50%,

5/04/2025

50,000

50,420

Moody's

Corp.,

3.75%,

3/24/2025

25,000

26,937

Novartis

Capital

Corp.

1.75%,

2/14/2025

50,000

50,998

3.00%,

11/20/2025

50,000

53,375

PayPal

Holdings,

Inc.

2.40%,

10/01/2024

50,000

52,020

1.65%,

6/01/2025

30,000

30,474

PeaceHealth

Obligated

Group,

Series

2020,

1.38%,

11/15/2025

25,000

25,041

PepsiCo,

Inc.

0.75%,

5/01/2023

50,000

50,272

0.40%,

10/07/2023

25,000

24,932

2.25%,

3/19/2025

50,000

51,918

Pfizer,

Inc.

3.00%,

6/15/2023

50,000

51,966

3.20%,

9/15/2023

35,000

36,630

3.40%,

5/15/2024

10,000

10,643

2.75%,

6/03/2026

25,000

26,615

Philip

Morris

International,

Inc.

1.13%,

5/01/2023

50,000

50,460

2.88%,

5/01/2024

70,000

73,287

3.25%,

11/10/2024

25,000

26,611

2.75%,

2/25/2026

25,000

26,285

0.88%,

5/01/2026

25,000

24,289

Procter

&

Gamble

Co.

(The)

3.10%,

8/15/2023

10,000

10,461

0.55%,

10/29/2025

50,000

48,922

1.00%,

4/23/2026

25,000

24,781

88

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

13.8%

(continued)

Reynolds

American,

Inc.,

4.45%,

6/12/2025

65,000

70,932

Royalty

Pharma

PLC,

0.75%,

9/02/2023

25,000

24,960

S&P

Global,

Inc.,

4.00%,

6/15/2025

15,000

16,373

Shire

Acquisitions

Investments

Ireland

DAC

2.88%,

9/23/2023

75,000

77,706

3.20%,

9/23/2026

75,000

79,788

Stryker

Corp.

0.60%,

12/01/2023

50,000

49,885

3.38%,

11/01/2025

45,000

48,390

3.50%,

3/15/2026

25,000

27,002

SYSCO

Corp.

3.55%,

3/15/2025

25,000

26,787

3.30%,

7/15/2026

30,000

32,126

Thermo

Fisher

Scientific,

Inc.,

4.13%,

3/25/2025

50,000

54,573

Tyson

Foods,

Inc.

3.90%,

9/28/2023

35,000

37,005

4.00%,

3/01/2026

25,000

27,448

Unilever

Capital

Corp.

3.25%,

3/07/2024

10,000

10,557

2.60%,

5/05/2024

100,000

104,177

UnitedHealth

Group,

Inc.

2.75%,

2/15/2023

50,000

51,167

2.38%,

8/15/2024

50,000

51,965

3.75%,

7/15/2025

25,000

27,268

1.25%,

1/15/2026

50,000

49,893

1.15%,

5/15/2026

15,000

14,858

Utah

Acquisition

Sub,

Inc.,

3.95%,

6/15/2026

35,000

38,074

Viatris,

Inc.,

1.65%,

6/22/2025

30,000

30,051

Zimmer

Biomet

Holdings,

Inc.,

3.55%,

4/01/2025

50,000

53,274

Zoetis,

Inc.,

3.25%,

2/01/2023

10,000

10,265

5,964,385

Energy

–

6.9%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co.-

Obligor,

Inc.,

2.77%,

12/15/2022

50,000

51,121

BP

Capital

Markets

America,

Inc.

2.94%,

4/06/2023

50,000

51,614

2.75%,

5/10/2023

10,000

10,321

3.79%,

2/06/2024

10,000

10,634

3.19%,

4/06/2025

25,000

26,548

3.41%,

2/11/2026

(a)

25,000

26,974

3.12%,

5/04/2026

50,000

53,477

BP

Capital

Markets

PLC

3.81%,

2/10/2024

15,000

15,979

3.51%,

3/17/2025

50,000

53,694

Canadian

Natural

Resources

Ltd.

2.95%,

1/15/2023

20,000

20,488

2.05%,

7/15/2025

30,000

30,464

Cenovus

Energy,

Inc.,

5.38%,

7/15/2025

25,000

28,089

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

25,000

27,996

Chevron

Corp.

2.36%,

12/05/2022

95,000

96,621

2.90%,

3/03/2024

(a)

25,000

26,165

1.55%,

5/11/2025

100,000

101,455

2.95%,

5/16/2026

25,000

26,666

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Energy

–

6.9%

(continued)

Chevron

USA,

Inc.

0.43%,

8/11/2023

25,000

24,954

3.90%,

11/15/2024

10,000

10,816

0.69%,

8/12/2025

25,000

24,560

Columbia

Pipeline

Group,

Inc.,

4.50%,

6/01/2025

15,000

16,518

Diamondback

Energy,

Inc.,

4.75%,

5/31/2025

35,000

38,730

Enbridge,

Inc.

3.50%,

6/10/2024

50,000

52,884

2.50%,

1/15/2025

10,000

10,347

Energy

Transfer

LP

4.25%,

3/15/2023

35,000

36,294

4.90%,

2/01/2024

10,000

10,691

4.50%,

4/15/2024

75,000

80,517

4.05%,

3/15/2025

10,000

10,713

2.90%,

5/15/2025

50,000

52,229

Energy

Transfer

LP

/

Regency

Energy

Finance

Corp.,

4.50%,

11/01/2023

20,000

21,153

Enterprise

Products

Operating

LLC

3.90%,

2/15/2024

25,000

26,504

3.75%,

2/15/2025

25,000

26,904

3.70%,

2/15/2026

75,000

81,435

EOG

Resources,

Inc.

2.63%,

3/15/2023

20,000

20,453

4.15%,

1/15/2026

50,000

55,242

Exxon

Mobil

Corp.

2.73%,

3/01/2023

75,000

76,932

1.57%,

4/15/2023

35,000

35,541

2.02%,

8/16/2024

65,000

67,065

2.99%,

3/19/2025

125,000

132,156

HollyFrontier

Corp.,

5.88%,

4/01/2026

50,000

57,015

Kinder

Morgan

Energy

Partners

LP,

4.25%,

9/01/2024

50,000

53,942

Kinder

Morgan,

Inc.,

3.15%,

1/15/2023

25,000

25,692

Marathon

Petroleum

Corp.

4.75%,

12/15/2023

19,000

20,415

3.63%,

9/15/2024

50,000

53,213

MPLX

LP

3.50%,

12/01/2022

25,000

25,685

3.38%,

3/15/2023

25,000

25,846

4.50%,

7/15/2023

25,000

26,293

4.88%,

12/01/2024

20,000

21,959

4.88%,

6/01/2025

25,000

27,677

1.75%,

3/01/2026

25,000

24,894

ONEOK,

Inc.,

2.75%,

9/01/2024

25,000

26,007

Phillips

66

3.85%,

4/09/2025

70,000

75,471

1.30%,

2/15/2026

10,000

9,849

Phillips

66

Partners

LP,

2.45%,

12/15/2024

45,000

46,416

Pioneer

Natural

Resources

Co.

0.55%,

5/15/2023

10,000

9,968

0.75%,

1/15/2024

25,000

24,849

1.13%,

1/15/2026

25,000

24,485

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

2.85%,

1/31/2023

25,000

25,464

4.65%,

10/15/2025

25,000

27,450

89

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Energy

–

6.9%

(continued)

Sabine

Pass

Liquefaction

LLC

5.63%,

3/01/2025

67,000

75,214

5.88%,

6/30/2026

50,000

58,038

Schlumberger

Finance

Canada

Ltd.,

1.40%,

9/17/2025

20,000

20,047

Shell

International

Finance

BV

2.25%,

1/06/2023

50,000

51,039

3.40%,

8/12/2023

10,000

10,497

0.38%,

9/15/2023

20,000

19,944

3.50%,

11/13/2023

25,000

26,406

2.00%,

11/07/2024

75,000

77,234

2.38%,

4/06/2025

50,000

51,903

Spectra

Energy

Partners

LP,

4.75%,

3/15/2024

25,000

26,945

Suncor

Energy,

Inc.,

3.10%,

5/15/2025

50,000

52,793

Totalenergies

Capital

International

SA

2.70%,

1/25/2023

25,000

25,662

3.75%,

4/10/2024

95,000

101,724

Transcanada

Pipelines

Ltd.,

3.75%,

10/16/2023

25,000

26,255

Transcontinental

Gas

Pipe

Line

Co.

LLC,

7.85%,

2/01/2026

25,000

30,797

Valero

Energy

Corp.

2.70%,

4/15/2023

10,000

10,277

3.65%,

3/15/2025

50,000

53,729

2.85%,

4/15/2025

25,000

26,151

Williams

Cos.,

Inc.

(The)

4.50%,

11/15/2023

10,000

10,636

4.55%,

6/24/2024

10,000

10,825

4.00%,

9/15/2025

25,000

27,169

2,996,819

Financial

–

44.7%

Aercap

Ireland

Capital

DAC

/

Aercap

Global

Aviation

Trust

2.88%,

8/14/2024

100,000

103,567

6.50%,

7/15/2025

50,000

57,937

Aflac,

Inc.

3.63%,

11/15/2024

25,000

26,899

3.25%,

3/17/2025

50,000

53,426

Air

Lease

Corp.

2.25%,

1/15/2023

25,000

25,456

0.70%,

2/15/2024

50,000

49,427

2.30%,

2/01/2025

50,000

50,967

2.88%,

1/15/2026

50,000

51,631

1.88%,

8/15/2026

35,000

34,624

Aircastle

Ltd.,

4.13%,

5/01/2024

50,000

52,823

Alexandria

Real

Estate

Equities,

Inc.,

3.80%,

4/15/2026

25,000

27,373

Allstate

Corp.

(The)

0.75%,

12/15/2025

25,000

24,511

Series

B,

5.75%,

8/15/2053

10,000

10,619

Ally

Financial,

Inc.

3.05%,

6/05/2023

25,000

25,801

1.45%,

10/02/2023

25,000

25,241

5.13%,

9/30/2024

25,000

27,735

American

Campus

Communities

Operating

Partnership

LP,

3.30%,

7/15/2026

25,000

26,575

American

Express

Co.

3.40%,

2/27/2023

100,000

103,533

3.40%,

2/22/2024

50,000

52,773

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

2.50%,

7/30/2024

50,000

52,097

3.63%,

12/05/2024

(a)

25,000

26,862

3.13%,

5/20/2026

25,000

26,813

American

International

Group,

Inc.

2.50%,

6/30/2025

50,000

51,948

3.75%,

7/10/2025

25,000

26,955

3.90%,

4/01/2026

50,000

54,886

American

Tower

Corp.

3.50%,

1/31/2023

75,000

77,661

3.00%,

6/15/2023

35,000

36,282

0.60%,

1/15/2024

20,000

19,858

2.40%,

3/15/2025

50,000

51,589

Ameriprise

Financial,

Inc.

3.70%,

10/15/2024

50,000

53,981

3.00%,

4/02/2025

25,000

26,356

AON

Corp.,

2.20%,

11/15/2022

25,000

25,416

Aon

PLC,

3.88%,

12/15/2025

25,000

27,298

Ares

Capital

Corp.

3.50%,

2/10/2023

50,000

51,544

4.20%,

6/10/2024

25,000

26,598

4.25%,

3/01/2025

10,000

10,655

3.25%,

7/15/2025

50,000

51,992

Assurant,

Inc.,

4.20%,

9/27/2023

25,000

26,472

Assured

Guaranty

US

Holdings,

Inc.,

5.00%,

7/01/2024

25,000

27,493

AvalonBay

Communities,

Inc.,

Series

G,

2.95%,

5/11/2026

50,000

53,118

Banco

Santander

SA,

2.75%,

5/28/2025

200,000

207,795

Bank

of

America

Corp.

3.30%,

1/11/2023

60,000

61,994

3.00%,

12/20/2023

50,000

51,285

4.13%,

1/22/2024

150,000

160,761

3.55%,

3/05/2024

100,000

103,710

1.49%,

5/19/2024

25,000

25,271

0.52%,

6/14/2024

100,000

99,531

4.20%,

8/26/2024

125,000

135,206

0.81%,

10/24/2024

150,000

149,750

3.46%,

3/15/2025

75,000

79,034

Series

L,

3.95%,

4/21/2025

50,000

54,016

0.98%,

4/22/2025

25,000

24,895

3.88%,

8/01/2025

80,000

87,320

2.02%,

2/13/2026

100,000

101,835

1.32%,

6/19/2026

100,000

99,197

4.25%,

10/22/2026

50,000

55,335

Series

N,

1.66%,

3/11/2027

75,000

74,651

3.56%,

4/23/2027

75,000

80,583

1.73%,

7/22/2027

125,000

124,234

Bank

of

Montreal

2.05%,

11/01/2022

100,000

101,675

0.45%,

12/08/2023

25,000

24,883

Series

E,

3.30%,

2/05/2024

25,000

26,353

1.85%,

5/01/2025

50,000

51,040

1.25%,

9/15/2026

85,000

83,400

Bank

of

Nova

Scotia

(The)

2.00%,

11/15/2022

25,000

25,415

2.38%,

1/18/2023

25,000

25,566

3.40%,

2/11/2024

75,000

79,164

1.30%,

6/11/2025

(a)

30,000

29,981

1.05%,

3/02/2026

100,000

97,932

90

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

1.30%,

9/15/2026

50,000

49,153

BankUnited,

Inc.,

4.88%,

11/17/2025

25,000

27,869

Barclays

PLC

4.38%,

9/11/2024

200,000

216,088

3.65%,

3/16/2025

100,000

106,706

4.38%,

1/12/2026

50,000

55,063

Berkshire

Hathaway,

Inc.

2.75%,

3/15/2023

50,000

51,371

3.13%,

3/15/2026

100,000

107,629

BGC

Partners,

Inc.,

3.75%,

10/01/2024

25,000

26,446

BlackRock,

Inc.,

3.50%,

3/18/2024

25,000

26,604

Blackstone

Secured

Lending

Fund,

2.75%,

9/16/2026

50,000

50,459

BNP

Paribas

SA,

3.25%,

3/03/2023

50,000

51,816

Boston

Properties

LP

3.20%,

1/15/2025

75,000

79,056

3.65%,

2/01/2026

50,000

53,954

Brixmor

Operating

Partnership

LP,

3.65%,

6/15/2024

55,000

58,318

Brookfield

Finance,

Inc.,

4.00%,

4/01/2024

50,000

53,278

Canadian

Imperial

Bank

of

Commerce

0.95%,

6/23/2023

30,000

30,128

2.25%,

1/28/2025

100,000

103,084

0.95%,

10/23/2025

25,000

24,573

Capital

One

Financial

Corp.

3.20%,

1/30/2023

75,000

77,282

3.90%,

1/29/2024

50,000

53,085

3.75%,

4/24/2024

25,000

26,587

3.30%,

10/30/2024

50,000

53,068

4.25%,

4/30/2025

25,000

27,376

4.20%,

10/29/2025

25,000

27,354

3.75%,

7/28/2026

25,000

27,025

Charles

Schwab

Corp.

(The)

2.65%,

1/25/2023

50,000

51,264

3.75%,

4/01/2024

35,000

37,284

0.90%,

3/11/2026

75,000

73,595

1.15%,

5/13/2026

15,000

14,856

Chubb

INA

Holdings,

Inc.

2.70%,

3/13/2023

25,000

25,752

3.35%,

5/15/2024

65,000

69,092

Citigroup,

Inc.

3.88%,

10/25/2023

25,000

26,561

1.68%,

5/15/2024

50,000

50,730

4.04%,

6/01/2024

25,000

26,287

3.75%,

6/16/2024

50,000

53,544

4.00%,

8/05/2024

45,000

48,385

3.35%,

4/24/2025

125,000

131,653

3.30%,

4/27/2025

50,000

53,378

4.40%,

6/10/2025

100,000

109,403

5.50%,

9/13/2025

65,000

74,164

3.70%,

1/12/2026

75,000

81,360

4.60%,

3/09/2026

25,000

27,881

3.11%,

4/08/2026

100,000

105,318

1.12%,

1/28/2027

25,000

24,389

1.46%,

6/09/2027

75,000

73,845

Citizens

Financial

Group,

Inc.,

2.85%,

7/27/2026

50,000

52,638

CME

Group,

Inc.,

3.00%,

3/15/2025

75,000

79,135

CNA

Financial

Corp.,

3.95%,

5/15/2024

50,000

53,296

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

Comerica,

Inc.,

3.70%,

7/31/2023

50,000

52,431

Cooperatieve

Rabobank

UA,

2.75%,

1/10/2023

50,000

51,346

Credit

Suisse

Group

AG,

3.75%,

3/26/2025

250,000

267,800

Crown

Castle

International

Corp.,

3.20%,

9/01/2024

105,000

110,643

Cyrusone

LP

/

Cyrusone

Finance

Corp.,

2.90%,

11/15/2024

35,000

36,496

Deutsche

Bank

AG

3.30%,

11/16/2022

100,000

102,675

4.10%,

1/13/2026

25,000

27,034

1.69%,

3/19/2026

100,000

99,648

Discover

Bank,

3.35%,

2/06/2023

100,000

103,124

Discover

Financial

Services

3.85%,

11/21/2022

100,000

103,371

4.50%,

1/30/2026

25,000

27,696

Duke

Realty

LP,

3.75%,

12/01/2024

25,000

26,811

Equinix,

Inc.

2.63%,

11/18/2024

10,000

10,386

1.25%,

7/15/2025

30,000

29,750

1.00%,

9/15/2025

35,000

34,289

1.45%,

5/15/2026

10,000

9,882

ERP

Operating

LP,

3.38%,

6/01/2025

20,000

21,322

Essex

Portfolio

LP

3.25%,

5/01/2023

13,000

13,413

3.88%,

5/01/2024

25,000

26,546

Fifth

Third

Bancorp

1.63%,

5/05/2023

25,000

25,354

3.65%,

1/25/2024

70,000

74,069

Franklin

Resources,

Inc.,

2.85%,

3/30/2025

50,000

52,707

FS

KKR

Capital

Corp.,

3.40%,

1/15/2026

50,000

51,400

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

5.38%,

11/01/2023

10,000

10,739

5.25%,

6/01/2025

25,000

27,761

5.38%,

4/15/2026

35,000

39,504

Goldman

Sachs

BDC,

Inc.,

3.75%,

2/10/2025

25,000

26,325

Goldman

Sachs

Group,

Inc.

(The)

0.48%,

1/27/2023

100,000

99,815

3.20%,

2/23/2023

125,000

128,825

0.52%,

3/08/2023

75,000

74,859

0.63%,

11/17/2023

125,000

124,861

3.63%,

2/20/2024

35,000

37,015

4.00%,

3/03/2024

50,000

53,398

0.67%,

3/08/2024

50,000

49,903

3.85%,

7/08/2024

25,000

26,649

3.50%,

1/23/2025

50,000

53,132

3.50%,

4/01/2025

50,000

53,351

4.25%,

10/21/2025

110,000

120,618

0.86%,

2/12/2026

10,000

9,812

1.09%,

12/09/2026

50,000

48,808

1.43%,

3/09/2027

50,000

49,212

1.54%,

9/10/2027

25,000

24,576

1.95%,

10/21/2027

50,000

50,143

Golub

Capital

BDC,

Inc.,

2.50%,

8/24/2026

25,000

24,831

Hanover

Insurance

Group,

Inc.

(The),

4.50%,

4/15/2026

50,000

55,514

Healthpeak

Properties,

Inc.,

4.00%,

6/01/2025

20,000

21,696

Host

Hotels

&

Resorts

LP,

Series

E,

4.00%,

6/15/2025

20,000

21,321

91

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

HSBC

Holdings

PLC

4.29%,

9/12/2026

200,000

217,933

1.59%,

5/24/2027

200,000

196,335

HSBC

USA,

Inc.,

3.50%,

6/23/2024

150,000

159,942

Huntington

Bancshares,

Inc.,

2.63%,

8/06/2024

50,000

51,951

Intercontinental

Exchange,

Inc.

0.70%,

6/15/2023

50,000

50,050

3.75%,

12/01/2025

25,000

27,214

Invesco

Finance

PLC,

3.75%,

1/15/2026

25,000

27,178

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

50,000

51,657

3.38%,

5/01/2023

50,000

52,019

3.88%,

2/01/2024

25,000

26,669

0.70%,

3/16/2024

60,000

60,003

3.56%,

4/23/2024

75,000

78,082

3.63%,

5/13/2024

125,000

133,546

1.51%,

6/01/2024

50,000

50,607

3.88%,

9/10/2024

150,000

161,276

4.02%,

12/05/2024

50,000

53,156

3.13%,

1/23/2025

50,000

52,750

3.22%,

3/01/2025

30,000

31,445

0.82%,

6/01/2025

30,000

29,756

3.90%,

7/15/2025

40,000

43,444

2.30%,

10/15/2025

60,000

61,772

2.01%,

3/13/2026

125,000

127,259

2.08%,

4/22/2026

50,000

50,998

3.20%,

6/15/2026

50,000

53,362

1.05%,

11/19/2026

50,000

48,767

3.96%,

1/29/2027

50,000

54,461

1.04%,

2/04/2027

50,000

48,560

1.58%,

4/22/2027

50,000

49,541

1.47%,

9/22/2027

100,000

98,166

KeyCorp,

4.15%,

10/29/2025

75,000

82,713

Lincoln

National

Corp.,

3.35%,

3/09/2025

25,000

26,665

Lloyds

Banking

Group

PLC,

2.44%,

2/05/2026

200,000

205,772

M&T

Bank

Corp.,

3.55%,

7/26/2023

50,000

52,368

Manulife

Financial

Corp.,

4.15%,

3/04/2026

25,000

27,691

Marsh

&

McLennan

Cos.,

Inc.

3.30%,

3/14/2023

50,000

51,635

3.88%,

3/15/2024

25,000

26,680

Mastercard,

Inc.,

3.38%,

4/01/2024

25,000

26,538

MetLife,

Inc.,

Series

D,

4.37%,

9/15/2023

50,000

53,344

MID-America

Apartments

LP,

1.10%,

9/15/2026

35,000

34,116

Mitsubishi

UFJ

Financial

Group,

Inc.

3.46%,

3/02/2023

25,000

25,950

3.76%,

7/26/2023

85,000

89,479

3.41%,

3/07/2024

100,000

105,597

0.85%,

9/15/2024

50,000

50,002

3.78%,

3/02/2025

200,000

215,905

Mizuho

Financial

Group,

Inc.,

2.23%,

5/25/2026

200,000

204,097

Morgan

Stanley

4.88%,

11/01/2022

125,000

130,296

3.75%,

2/25/2023

50,000

52,048

4.10%,

5/22/2023

25,000

26,273

0.56%,

11/10/2023

100,000

99,904

0.73%,

4/05/2024

25,000

24,971

3.74%,

4/24/2024

10,000

10,429

Series

F,

3.88%,

4/29/2024

200,000

213,536

3.70%,

10/23/2024

75,000

80,441

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

0.79%,

5/30/2025

25,000

24,739

2.72%,

7/22/2025

25,000

25,947

4.00%,

7/23/2025

65,000

70,928

Series

I,

0.86%,

10/21/2025

25,000

24,736

5.00%,

11/24/2025

100,000

112,662

3.88%,

1/27/2026

60,000

65,493

2.19%,

4/28/2026

50,000

51,181

3.13%,

7/27/2026

75,000

79,664

1.59%,

5/04/2027

50,000

49,529

1.51%,

7/20/2027

50,000

49,188

NASDAQ,

Inc.

0.45%,

12/21/2022

25,000

24,974

4.25%,

6/01/2024

25,000

26,859

National

Bank

of

Canada,

2.10%,

2/01/2023

15,000

15,275

National

Retail

Properties,

Inc.,

4.00%,

11/15/2025

25,000

27,364

NatWest

Group

PLC

4.52%,

6/25/2024

50,000

52,896

3.75%,

11/01/2029

200,000

211,193

Northern

Trust

Corp.,

3.95%,

10/30/2025

25,000

27,611

Office

Properties

Income

Trust

4.50%,

2/01/2025

20,000

21,275

2.65%,

6/15/2026

25,000

25,013

OMEGA

Healthcare

Investors,

Inc.,

4.50%,

1/15/2025

35,000

37,835

Owl

Rock

Capital

Corp.

4.00%,

3/30/2025

50,000

52,439

3.75%,

7/22/2025

35,000

36,539

3.40%,

7/15/2026

25,000

25,698

People's

United

Financial,

Inc.,

3.65%,

12/06/2022

50,000

51,194

PNC

Financial

Services

Group,

Inc.

(The)

2.85%,

11/09/2022

(c)

25,000

25,609

3.90%,

4/29/2024

50,000

53,443

2.20%,

11/01/2024

75,000

77,898

1.15%,

8/13/2026

50,000

49,537

Prospect

Capital

Corp.,

3.71%,

1/22/2026

50,000

50,824

Prudential

Financial,

Inc.

5.63%,

6/15/2043

50,000

52,609

5.38%,

5/15/2045

25,000

27,216

Realty

Income

Corp.,

4.65%,

8/01/2023

50,000

53,036

Regions

Financial

Corp.,

2.25%,

5/18/2025

25,000

25,783

Royal

Bank

of

Canada

Series

G,

1.95%,

1/17/2023

100,000

101,774

3.70%,

10/05/2023

50,000

52,876

0.50%,

10/26/2023

25,000

24,912

2.25%,

11/01/2024

100,000

103,546

1.15%,

6/10/2025

30,000

29,855

1.20%,

4/27/2026

35,000

34,495

Series

G,

1.15%,

7/14/2026

35,000

34,388

Santander

Holdings

USA,

Inc.

3.40%,

1/18/2023

100,000

102,938

3.50%,

6/07/2024

25,000

26,385

4.50%,

7/17/2025

40,000

43,784

Santander

UK

Group

Holdings

PLC,

3.37%,

1/05/2024

25,000

25,726

Santander

UK

PLC,

4.00%,

3/13/2024

100,000

107,155

Simon

Property

Group

LP

2.75%,

6/01/2023

25,000

25,722

92

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

3.50%,

9/01/2025

25,000

26,927

3.30%,

1/15/2026

50,000

53,674

Site

Centers

Corp.,

3.63%,

2/01/2025

50,000

52,558

State

Street

Corp.

3.70%,

11/20/2023

25,000

26,573

3.78%,

12/03/2024

25,000

26,584

3.55%,

8/18/2025

30,000

32,615

2.35%,

11/01/2025

50,000

51,887

2.65%,

5/19/2026

25,000

26,456

Stifel

Financial

Corp.,

4.25%,

7/18/2024

25,000

26,993

Sumitomo

Mitsui

Financial

Group,

Inc.

3.10%,

1/17/2023

100,000

102,985

2.35%,

1/15/2025

200,000

206,151

3.78%,

3/09/2026

50,000

54,444

2.63%,

7/14/2026

100,000

103,847

3.01%,

10/19/2026

50,000

52,970

Synchrony

Financial

4.50%,

7/23/2025

40,000

43,757

3.70%,

8/04/2026

50,000

53,574

Synovus

Financial

Corp.,

3.13%,

11/01/2022

25,000

25,501

Toronto-Dominion

Bank

(The)

1.90%,

12/01/2022

50,000

50,786

0.75%,

6/12/2023

30,000

30,093

0.45%,

9/11/2023

25,000

24,915

0.55%,

3/04/2024

35,000

34,738

3.25%,

3/11/2024

50,000

52,743

2.65%,

6/12/2024

100,000

104,423

1.15%,

6/12/2025

30,000

29,894

0.75%,

9/11/2025

50,000

48,942

1.25%,

9/10/2026

35,000

34,353

Trinity

Acquisition

PLC,

4.40%,

3/15/2026

50,000

55,213

Truist

Bank

3.00%,

2/02/2023

25,000

25,730

2.15%,

12/06/2024

50,000

51,655

3.63%,

9/16/2025

100,000

108,073

Truist

Financial

Corp.

2.85%,

10/26/2024

50,000

52,655

3.70%,

6/05/2025

30,000

32,515

1.20%,

8/05/2025

80,000

79,905

1.27%,

3/02/2027

25,000

24,637

US

Bancorp

3.38%,

2/05/2024

50,000

52,780

3.60%,

9/11/2024

25,000

26,821

3.95%,

11/17/2025

50,000

55,097

Series

V,

2.38%,

7/22/2026

25,000

26,116

US

Bank

NA,

2.80%,

1/27/2025

100,000

105,122

Ventas

Realty

LP

3.50%,

4/15/2024

50,000

52,912

2.65%,

1/15/2025

25,000

25,963

VEREIT

Operating

Partnership

LP

4.60%,

2/06/2024

25,000

26,790

4.63%,

11/01/2025

75,000

83,636

Visa,

Inc.

2.80%,

12/14/2022

85,000

86,998

3.15%,

12/14/2025

50,000

53,731

Vornado

Realty

LP,

2.15%,

6/01/2026

50,000

50,368

Voya

Financial,

Inc.,

3.13%,

7/15/2024

30,000

31,652

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

44.7%

(continued)

Wells

Fargo

&

Co.

3.07%,

1/24/2023

50,000

50,291

4.13%,

8/15/2023

100,000

105,863

1.65%,

6/02/2024

25,000

25,356

3.30%,

9/09/2024

50,000

53,206

3.00%,

2/19/2025

25,000

26,321

0.81%,

5/19/2025

15,000

14,923

3.55%,

9/29/2025

50,000

53,799

2.41%,

10/30/2025

25,000

25,815

2.16%,

2/11/2026

35,000

35,818

3.00%,

4/22/2026

25,000

26,457

2.19%,

4/30/2026

175,000

178,888

3.00%,

10/23/2026

100,000

105,598

3.20%,

6/17/2027

100,000

106,005

Welltower,

Inc.

4.00%,

6/01/2025

20,000

21,673

4.25%,

4/01/2026

40,000

44,257

Western

Union

Co.

(The),

2.85%,

1/10/2025

50,000

52,035

Westpac

Banking

Corp.

2.00%,

1/13/2023

25,000

25,450

3.65%,

5/15/2023

25,000

26,196

3.30%,

2/26/2024

50,000

52,843

1.15%,

6/03/2026

50,000

49,400

2.70%,

8/19/2026

40,000

42,291

19,349,976

Industrial

–

6.3%

3M

Co.

3.25%,

2/14/2024

40,000

42,150

2.00%,

2/14/2025

25,000

25,696

2.25%,

9/19/2026

25,000

25,960

Arrow

Electronics,

Inc.,

3.25%,

9/08/2024

15,000

15,763

Avnet,

Inc.,

4.88%,

12/01/2022

25,000

26,068

Berry

Global,

Inc.,

0.95%,

2/15/2024

50,000

49,730

Boeing

Co.

(The)

4.51%,

5/01/2023

40,000

41,940

1.95%,

2/01/2024

50,000

50,929

4.88%,

5/01/2025

70,000

77,307

2.75%,

2/01/2026

75,000

77,430

2.20%,

2/04/2026

175,000

175,424

Burlington

Northern

Santa

Fe

LLC

3.85%,

9/01/2023

20,000

21,036

3.75%,

4/01/2024

50,000

53,101

3.65%,

9/01/2025

15,000

16,296

Carrier

Global

Corp.,

2.24%,

2/15/2025

50,000

51,316

Caterpillar

Financial

Services

Corp.

1.95%,

11/18/2022

50,000

50,781

0.25%,

3/01/2023

25,000

24,940

0.45%,

9/14/2023

50,000

49,910

3.75%,

11/24/2023

60,000

63,867

0.45%,

5/17/2024

20,000

19,833

3.25%,

12/01/2024

25,000

26,775

0.80%,

11/13/2025

25,000

24,612

CNH

Industrial

Capital

LLC

1.95%,

7/02/2023

25,000

25,446

1.88%,

1/15/2026

25,000

25,173

CSX

Corp.,

3.35%,

11/01/2025

25,000

26,864

FedEx

Corp.,

3.25%,

4/01/2026

25,000

26,918

93

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Industrial

–

6.3%

(continued)

Flex

Ltd.

5.00%,

2/15/2023

10,000

10,519

4.75%,

6/15/2025

20,000

21,978

GATX

Corp.,

4.35%,

2/15/2024

50,000

53,627

General

Dynamics

Corp.

2.25%,

11/15/2022

25,000

25,351

3.38%,

5/15/2023

25,000

26,061

2.38%,

11/15/2024

25,000

26,027

3.25%,

4/01/2025

25,000

26,619

3.50%,

5/15/2025

15,000

16,132

General

Electric

Co.

3.38%,

3/11/2024

25,000

26,396

3.45%,

5/15/2024

50,000

52,839

Honeywell

International,

Inc.,

1.35%,

6/01/2025

25,000

25,209

Huntington

Ingalls

Industries,

Inc.,

0.67%,

8/16/2023

(b)

60,000

59,811

Jabil,

Inc.,

1.70%,

4/15/2026

25,000

24,849

JB

Hunt

Transport

Services,

Inc.,

3.88%,

3/01/2026

50,000

54,755

John

Deere

Capital

Corp.

2.80%,

1/27/2023

10,000

10,288

2.80%,

3/06/2023

100,000

103,103

0.70%,

7/05/2023

10,000

10,024

0.40%,

10/10/2023

15,000

14,964

2.65%,

6/24/2024

65,000

68,132

2.65%,

6/10/2026

25,000

26,482

1.05%,

6/17/2026

25,000

24,633

2.25%,

9/14/2026

25,000

25,949

Legrand

France

SA,

8.50%,

2/15/2025

50,000

61,246

Lockheed

Martin

Corp.,

3.55%,

1/15/2026

50,000

54,441

Norfolk

Southern

Corp.

3.85%,

1/15/2024

10,000

10,571

3.65%,

8/01/2025

25,000

26,978

Northrop

Grumman

Corp.,

2.93%,

1/15/2025

75,000

78,810

Otis

Worldwide

Corp.,

2.06%,

4/05/2025

25,000

25,598

Packaging

Corp.

of

America,

3.65%,

9/15/2024

40,000

42,724

Raytheon

Technologies

Corp.

3.20%,

3/15/2024

20,000

21,022

3.95%,

8/16/2025

50,000

54,570

Republic

Services,

Inc.

2.50%,

8/15/2024

30,000

31,176

0.88%,

11/15/2025

25,000

24,424

Ryder

System,

Inc.

3.75%,

6/09/2023

25,000

26,148

2.50%,

9/01/2024

25,000

25,953

3.35%,

9/01/2025

25,000

26,675

Stanley

Black

&

Decker,

Inc.,

4.00%,

3/15/2060

25,000

26,509

Teledyne

Technologies,

Inc.,

1.60%,

4/01/2026

25,000

24,956

Trimble,

Inc.,

4.15%,

6/15/2023

10,000

10,491

Union

Pacific

Corp.

3.65%,

2/15/2024

32,000

33,818

3.15%,

3/01/2024

25,000

26,323

United

Parcel

Service,

Inc.

2.50%,

4/01/2023

50,000

51,300

2.20%,

9/01/2024

15,000

15,550

Vontier

Corp.,

1.80%,

4/01/2026

(b)

25,000

24,675

Vulcan

Materials

Co.,

4.50%,

4/01/2025

25,000

27,386

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Industrial

–

6.3%

(continued)

Waste

Management,

Inc.,

0.75%,

11/15/2025

25,000

24,435

Westinghouse

Air

Brake

Technologies

Corp.,

3.20%,

6/15/2025

50,000

52,901

WRKCo,

Inc.

3.00%,

9/15/2024

15,000

15,750

3.75%,

3/15/2025

25,000

26,922

2,720,365

Technology

–

8.4%

Adobe,

Inc.,

1.70%,

2/01/2023

75,000

76,189

Analog

Devices,

Inc.,

2.95%,

4/01/2025

50,000

52,843

Apple,

Inc.

2.40%,

1/13/2023

50,000

51,092

2.40%,

5/03/2023

135,000

138,771

0.75%,

5/11/2023

50,000

50,199

2.85%,

5/11/2024

25,000

26,195

1.80%,

9/11/2024

100,000

102,541

2.50%,

2/09/2025

50,000

52,218

3.20%,

5/13/2025

50,000

53,488

0.55%,

8/20/2025

25,000

24,485

0.70%,

2/08/2026

25,000

24,482

3.25%,

2/23/2026

75,000

80,798

2.45%,

8/04/2026

35,000

36,691

2.05%,

9/11/2026

50,000

51,498

Autodesk,

Inc.,

4.38%,

6/15/2025

25,000

27,421

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.,

3.63%,

1/15/2024

50,000

52,641

Broadcom,

Inc.

3.63%,

10/15/2024

20,000

21,370

3.15%,

11/15/2025

25,000

26,396

3.46%,

9/15/2026

50,000

53,366

Citrix

Systems,

Inc.,

1.25%,

3/01/2026

25,000

24,353

Dell

International

LLC

/

EMC

Corp.

4.00%,

7/15/2024

70,000

75,057

6.02%,

6/15/2026

100,000

117,782

Electronic

Arts,

Inc.,

4.80%,

3/01/2026

20,000

22,577

Fidelity

National

Information

Services,

Inc.,

1.15%,

3/01/2026

35,000

34,290

Fiserv,

Inc.

3.80%,

10/01/2023

35,000

36,932

2.75%,

7/01/2024

110,000

114,768

Genpact

Luxembourg

Sarl,

3.38%,

12/01/2024

10,000

10,587

Hewlett

Packard

Enterprise

Co.

2.25%,

4/01/2023

85,000

86,714

4.45%,

10/02/2023

10,000

10,635

1.45%,

4/01/2024

25,000

25,258

4.90%,

10/15/2025

25,000

28,001

HP,

Inc.,

2.20%,

6/17/2025

20,000

20,521

Intel

Corp.

2.70%,

12/15/2022

25,000

25,624

3.40%,

3/25/2025

25,000

26,791

3.70%,

7/29/2025

60,000

65,112

International

Business

Machines

Corp.

3.38%,

8/01/2023

25,000

26,208

3.00%,

5/15/2024

150,000

157,805

3.30%,

5/15/2026

100,000

107,888

Intuit,

Inc.,

0.95%,

7/15/2025

65,000

64,363

KLA

Corp.,

4.65%,

11/01/2024

35,000

38,330

94

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Technology

–

8.4%

(continued)

LAM

Research

Corp.

3.80%,

3/15/2025

25,000

26,973

3.75%,

3/15/2026

25,000

27,414

Leidos,

Inc.

2.95%,

5/15/2023

35,000

36,072

3.63%,

5/15/2025

10,000

10,708

Marvell

Technology,

Inc.,

1.65%,

4/15/2026

25,000

24,809

Micron

Technology,

Inc.,

2.50%,

4/24/2023

40,000

41,036

Microsoft

Corp.

2.65%,

11/03/2022

50,000

50,966

2.38%,

5/01/2023

10,000

10,239

3.63%,

12/15/2023

75,000

79,291

2.70%,

2/12/2025

25,000

26,297

3.13%,

11/03/2025

50,000

53,630

2.40%,

8/08/2026

100,000

104,985

NetApp,

Inc.,

1.88%,

6/22/2025

25,000

25,410

NVIDIA

Corp.,

3.20%,

9/16/2026

50,000

54,267

NXP

BV

/

NXP

Funding

LLC,

5.35%,

3/01/2026

(b)

25,000

28,559

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

4.88%,

3/01/2024

(b)

10,000

10,822

2.70%,

5/01/2025

(b)

25,000

25,958

Oracle

Corp.

2.63%,

2/15/2023

25,000

25,636

3.63%,

7/15/2023

25,000

26,240

2.40%,

9/15/2023

60,000

61,654

3.40%,

7/08/2024

50,000

52,840

2.95%,

11/15/2024

75,000

78,793

2.50%,

4/01/2025

50,000

51,861

2.95%,

5/15/2025

40,000

42,006

1.65%,

3/25/2026

50,000

50,088

2.65%,

7/15/2026

75,000

77,980

QUALCOMM,

Inc.

2.60%,

1/30/2023

50,000

51,229

2.90%,

5/20/2024

50,000

52,492

Roper

Technologies,

Inc.

3.65%,

9/15/2023

20,000

21,047

2.35%,

9/15/2024

20,000

20,720

1.00%,

9/15/2025

50,000

49,229

Skyworks

Solutions,

Inc.,

0.90%,

6/01/2023

20,000

20,005

Texas

Instruments,

Inc.,

2.25%,

5/01/2023

50,000

51,072

Vmware,

Inc.,

1.00%,

8/15/2024

25,000

25,039

VMware,

Inc.,

1.40%,

8/15/2026

50,000

49,244

Xilinx,

Inc.,

2.95%,

6/01/2024

65,000

67,962

3,634,853

Utilities

–

5.2%

Ameren

Corp.,

2.50%,

9/15/2024

40,000

41,482

Atmos

Energy

Corp.,

0.63%,

3/09/2023

40,000

39,994

Avangrid,

Inc.

3.15%,

12/01/2024

15,000

15,861

3.20%,

4/15/2025

20,000

21,177

Berkshire

Hathaway

Energy

Co.

2.80%,

1/15/2023

35,000

35,862

3.75%,

11/15/2023

50,000

52,703

4.05%,

4/15/2025

25,000

27,281

Black

Hills

Corp.

4.25%,

11/30/2023

35,000

37,204

3.95%,

1/15/2026

10,000

10,817

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Utilities

–

5.2%

(continued)

CenterPoint

Energy

Resources

Corp.,

3.55%,

4/01/2023

20,000

20,758

CenterPoint

Energy,

Inc.,

1.45%,

6/01/2026

10,000

9,896

Cleveland

Electric

Illuminating

Co.

(The),

5.50%,

8/15/2024

10,000

11,176

CMS

Energy

Corp.,

3.00%,

5/15/2026

10,000

10,585

Connecticut

Light

And

Power

Co.

(The),

Series

A,

0.75%,

12/01/2025

30,000

29,372

Dominion

Energy,

Inc.

3.07%,

8/15/2024

(c)

35,000

36,734

5.75%,

10/01/2054

25,000

27,265

DTE

Energy

Co.

Series

H,

0.55%,

11/01/2022

10,000

10,003

Series

C,

2.53%,

10/01/2024

25,000

26,042

Duke

Energy

Carolinas

LLC,

3.05%,

3/15/2023

20,000

20,660

Duke

Energy

Corp.,

3.75%,

4/15/2024

50,000

52,997

Duke

Energy

Progress

LLC,

3.25%,

8/15/2025

50,000

53,548

Eastern

Energy

Gas

Holdings

LLC

3.55%,

11/01/2023

10,000

10,481

Series

A,

2.50%,

11/15/2024

25,000

26,035

Edison

International,

3.55%,

11/15/2024

45,000

47,424

Entergy

Corp.,

2.95%,

9/01/2026

25,000

26,358

Entergy

Gulf

States

Louisiana

LLC,

5.59%,

10/01/2024

50,000

56,084

Entergy

Louisiana

LLC,

0.62%,

11/17/2023

40,000

39,931

Evergy

Metro,

Inc.,

3.15%,

3/15/2023

25,000

25,693

Evergy,

Inc.,

2.45%,

9/15/2024

25,000

25,884

Eversource

Energy

Series

L,

2.90%,

10/01/2024

10,000

10,480

Series

Q,

0.80%,

8/15/2025

25,000

24,385

Exelon

Corp.

3.95%,

6/15/2025

25,000

27,022

3.40%,

4/15/2026

20,000

21,429

Florida

Power

&

Light

Co.,

2.85%,

4/01/2025

50,000

52,619

Georgia

Power

Co.,

Series

A,

2.10%,

7/30/2023

100,000

102,410

Iberdrola

International

BV,

5.81%,

3/15/2025

35,000

40,148

Interstate

Power

and

Light

Co.,

3.25%,

12/01/2024

15,000

15,889

ITC

Holdings

Corp.,

2.70%,

11/15/2022

15,000

15,294

National

Fuel

Gas

Co.,

3.75%,

3/01/2023

25,000

25,760

National

Rural

Utilities

Cooperative

Finance

Corp.

2.70%,

2/15/2023

50,000

51,179

2.95%,

2/07/2024

25,000

26,085

3.25%,

11/01/2025

10,000

10,700

NextEra

Energy

Capital

Holdings,

Inc.

3.15%,

4/01/2024

85,000

89,313

2.75%,

5/01/2025

35,000

36,710

NiSource,

Inc.,

0.95%,

8/15/2025

25,000

24,513

Oklahoma

Gas

&

Electric

Co.,

0.55%,

5/26/2023

10,000

9,976

Oncor

Electric

Delivery

Co.

LLC,

2.75%,

6/01/2024

25,000

26,151

Pacific

Gas

&

Electric

Co.

3.45%,

7/01/2025

50,000

52,199

3.15%,

1/01/2026

50,000

51,484

Public

Service

Electric

&

Gas

Co.,

0.95%,

3/15/2026

75,000

74,015

Public

Service

Enterprise

Group,

Inc.

2.88%,

6/15/2024

10,000

10,453

95

(a)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$234,806

and

the

value

of

the

collateral

was

$242,348,

consisting

of

cash

collateral

of

$164,650

and

U.S.

Government

&

Agency

securities

valued

at

$77,698.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(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,

2021,

these

securities

were

valued

at

$174,393

or

0.40%

of

net

assets.

(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,

2021

are

as

follows:

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Utilities

–

5.2%

(continued)

0.80%,

8/15/2025

35,000

34,141

San

Diego

Gas

&

Electric

Co.

Series

NNN,

3.60%,

9/01/2023

10,000

10,481

2.50%,

5/15/2026

25,000

26,065

Sempra

Energy

2.90%,

2/01/2023

50,000

51,308

4.05%,

12/01/2023

10,000

10,588

3.55%,

6/15/2024

25,000

26,418

Southern

California

Edison

Co.

0.70%,

4/03/2023

50,000

49,999

Series

D,

3.40%,

6/01/2023

20,000

20,761

Series

C,

3.50%,

10/01/2023

25,000

26,132

Southern

California

Gas

Co.,

Series

TT,

2.60%,

6/15/2026

10,000

10,468

Southern

Co.

(The)

2.95%,

7/01/2023

25,000

25,815

3.25%,

7/01/2026

65,000

69,324

Series

B,

4.00%,

1/15/2051

25,000

26,203

Southern

Power

Co.,

0.90%,

1/15/2026

35,000

34,060

Southwestern

Electric

Power

Co.,

Series

N,

1.65%,

3/15/2026

85,000

85,037

Virginia

Electric

and

Power

Co.

Series

A,

3.10%,

5/15/2025

10,000

10,574

Series

A,

3.15%,

1/15/2026

25,000

26,671

Wisconsin

Electric

Power

Co.,

2.05%,

12/15/2024

20,000

20,625

Xcel

Energy,

Inc.

0.50%,

10/15/2023

10,000

9,964

3.30%,

6/01/2025

30,000

31,868

2,254,023

Total

Corporate

Bonds

(cost

$42,865,987)

42,888,945

Shares

Investment

Companies

–

1.5%

Registered

Investment

Companies

–

1.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$642,396)

642,396

642,396

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.4%

Registered

Investment

Companies

–

0.4%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$164,650)

164,650

164,650

Total

Investments

(cost

$43,673,033)

100.9%

43,695,991

Liabilities,

Less

Cash

and

Receivables

(0.9)%

(399,111)

Net

Assets

100.0%

43,296,880

96

STATEMENT

OF

INVESTMENTS

(continued)

(e)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

306,188

5,994,989

(5,658,781)

—

—

642,396

1.5

27

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

109,920

2,014,518

(1,959,788)

—

—

164,650

0.4

503

2

Total

416,108

8,009,507

(7,618,569)

—

—

807,046

1.9

530

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

44.7

Consumer,

Non-cyclical

13.8

Technology

8.4

Consumer,

Cyclical

7.0

Energy

6.9

Industrial

6.3

Communications

5.4

Utilities

5.2

Registered

Investment

Companies

1.9

Basic

Materials

1.3

100.9

†

Based

on

net

assets.

97

STATEMENT

OF

INVESTMENTS

October

31,

2021

BNY

Mellon

High

Yield

Beta

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

Basic

Materials

–

4.1%

Alcoa

Nederland

Holding

BV,

5.50%,

12/15/2027

(a)

10,000

10,725

Allegheny

Ludlum

LLC,

6.95%,

12/15/2025

20,000

21,843

Allegheny

Technologies,

Inc.,

5.88%,

12/01/2027

18,000

18,898

Arconic

Corp.

6.00%,

5/15/2025

(a)

20,000

21,001

6.13%,

2/15/2028

(a)

15,000

15,826

Ashland

LLC

3.38%,

9/01/2031

(a)

10,000

9,884

6.88%,

5/15/2043

25,000

32,452

Axalta

Coating

Systems

LLC,

3.38%,

2/15/2029

(a)

35,000

33,300

Baffinland

Iron

Mines

Corp.

/

Baffinland

Iron

Mines

LP,

8.75%,

7/15/2026

(a)

15,000

15,835

Big

River

Steel

LLC

/

Brs

Finance

Corp.,

6.63%,

1/31/2029

(a)

32,000

34,780

Carpenter

Technology

Corp.

4.45%,

3/01/2023

5,000

5,179

6.38%,

7/15/2028

15,000

15,862

Century

Aluminum

Co.,

7.50%,

4/01/2028

(a)

20,000

21,220

Chemours

Co.

(The)

5.38%,

5/15/2027

(b)

28,000

29,715

5.75%,

11/15/2028

(a)

15,000

15,444

Clearwater

Paper

Corp.,

4.75%,

8/15/2028

(a)

5,000

5,081

Cleveland-Cliffs,

Inc.

9.88%,

10/17/2025

(a)

17,000

19,455

6.75%,

3/15/2026

(a)

5,000

5,319

5.88%,

6/01/2027

20,000

20,783

4.63%,

3/01/2029

(a)

15,000

15,543

4.88%,

3/01/2031

(a)(b)

15,000

15,635

6.25%,

10/01/2040

12,000

13,121

Commercial

Metals

Co.

4.88%,

5/15/2023

35,000

36,320

5.38%,

7/15/2027

10,000

10,470

3.88%,

2/15/2031

4,000

3,983

Compass

Minerals

International,

Inc.,

4.88%,

7/15/2024

(a)

22,000

23,007

Consolidated

Energy

Finance

SA,

6.50%,

5/15/2026

(a)

30,000

31,125

Domtar

Corp.,

6.75%,

2/15/2044

30,000

31,802

Element

Solutions,

Inc.,

3.88%,

9/01/2028

(a)

20,000

19,992

FMG

Resources

(August

2006)

Pty

Ltd.

5.13%,

5/15/2024

(a)

34,000

36,249

4.50%,

9/15/2027

(a)

30,000

31,452

Freeport-McMoRan,

Inc.

3.88%,

3/15/2023

5,000

5,150

4.55%,

11/14/2024

5,000

5,404

5.00%,

9/01/2027

20,000

20,876

4.13%,

3/01/2028

15,000

15,521

4.38%,

8/01/2028

20,000

20,822

5.25%,

9/01/2029

(b)

15,000

16,398

4.25%,

3/01/2030

20,000

21,112

4.63%,

8/01/2030

(b)

30,000

32,457

5.40%,

11/14/2034

25,000

30,533

5.45%,

3/15/2043

35,000

44,016

GCP

Applied

Technologies,

Inc.,

5.50%,

4/15/2026

(a)

32,000

32,762

GPD

Cos.,

Inc.,

10.13%,

4/01/2026

(a)

15,000

16,094

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Basic

Materials

–

4.1%

(continued)

HB

Fuller

Co.

4.00%,

2/15/2027

10,000

10,492

4.25%,

10/15/2028

30,000

30,489

Hecla

Mining

Co.,

7.25%,

2/15/2028

17,000

18,298

Hexion,

Inc.,

7.88%,

7/15/2027

(a)(b)

15,000

15,900

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV,

Inc.,

9.00%,

7/01/2028

(a)

30,000

32,505

INEOS

Group

Holdings

SA,

5.63%,

8/01/2024

(a)

13,000

13,014

INEOS

Quattro

Finance

2

PLC,

3.38%,

1/15/2026

(a)

15,000

14,929

Infrabuild

Australia

Pty

Ltd.,

12.00%,

10/01/2024

(a)

5,000

5,304

Ingevity

Corp.

4.50%,

2/01/2026

(a)

26,000

26,370

3.88%,

11/01/2028

(a)

15,000

14,755

Innophos

Holdings,

Inc.,

9.38%,

2/15/2028

(a)

22,000

23,780

Iris

Holdings,

Inc.,

8.75%,

2/15/2026

(a)(c)

30,000

30,470

Joseph

T

Ryerson

&

Son,

Inc.,

8.50%,

8/01/2028

(a)

9,000

10,052

JW

Aluminum

Continuous

Cast

Co.,

10.25%,

6/01/2026

(a)

25,000

26,669

Kaiser

Aluminum

Corp.,

4.63%,

3/01/2028

(a)

38,000

38,341

Kraton

Polymers

LLC

/

Kraton

Polymers

Capital

Corp.,

4.25%,

12/15/2025

(a)

35,000

36,164

Mercer

International,

Inc.,

5.50%,

1/15/2026

10,000

10,150

Methanex

Corp.

4.25%,

12/01/2024

(b)

10,000

10,599

5.25%,

12/15/2029

20,000

21,191

5.65%,

12/01/2044

25,000

26,042

Mineral

Resources

Ltd.,

8.13%,

5/01/2027

(a)

15,000

16,223

Minerals

Technologies,

Inc.,

5.00%,

7/01/2028

(a)

15,000

15,470

New

Gold,

Inc.,

7.50%,

7/15/2027

(a)

25,000

26,992

Novelis

Corp.,

4.75%,

1/30/2030

(a)

38,000

39,489

Nufarm

Australia

Ltd.

/

Nufarm

Americas,

Inc.,

5.75%,

4/30/2026

(a)

35,000

35,785

Olin

Corp.

9.50%,

6/01/2025

(a)

10,000

12,328

5.13%,

9/15/2027

11,000

11,400

5.63%,

8/01/2029

(b)

3,000

3,281

5.00%,

2/01/2030

30,000

31,803

Polar

US

Borrower

LLC

/

Schenectady

International

Group,

Inc.,

6.75%,

5/15/2026

(a)

30,000

29,774

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp.,

7.25%,

4/01/2025

(a)

17,000

17,355

Rayonier

Am

Products,

Inc.

5.50%,

6/01/2024

(a)(b)

40,000

39,601

7.63%,

1/15/2026

(a)

11,000

11,345

Schweitzer-Mauduit

International,

Inc.,

6.88%,

10/01/2026

(a)

32,000

33,359

SCIH

Salt

Holdings,

Inc.

4.88%,

5/01/2028

(a)

50,000

48,911

6.63%,

5/01/2029

(a)(b)

35,000

32,932

TPC

Group,

Inc.,

10.50%,

8/01/2024

(a)

35,000

31,713

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance,

Inc.,

5.38%,

9/01/2025

(a)

15,000

15,282

Tronox,

Inc.,

6.50%,

5/01/2025

(a)

10,000

10,503

U.S.

Steel

Corp.

6.25%,

3/15/2026

15,000

15,469

6.88%,

3/01/2029

(b)

20,000

21,401

6.65%,

6/01/2037

25,000

26,515

98

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Basic

Materials

–

4.1%

(continued)

Unifrax

Escrow

Issuer

Corp.,

7.50%,

9/30/2029

(a)

30,000

29,826

Valvoline,

Inc.

4.25%,

2/15/2030

(a)

50,000

50,750

3.63%,

6/15/2031

(a)

40,000

39,142

WR

Grace

Holdings

LLC,

5.63%,

10/01/2024

(a)

11,000

11,802

1,956,411

Communications

–

16.3%

Advantage

Sales

&

Marketing,

Inc.,

6.50%,

11/15/2028

(a)

40,000

41,730

Altice

Financing

SA

5.00%,

1/15/2028

(a)

25,000

24,084

5.75%,

8/15/2029

(a)

70,000

68,940

Altice

France

Holding

SA

10.50%,

5/15/2027

(a)

50,000

54,177

6.00%,

2/15/2028

(a)

65,000

61,729

Altice

France

SA

8.13%,

2/01/2027

(a)

70,000

75,226

5.50%,

1/15/2028

(a)

22,000

22,052

5.13%,

1/15/2029

(a)

25,000

24,357

5.13%,

7/15/2029

(a)

85,000

82,772

AMC

Networks,

Inc.

5.00%,

4/01/2024

8,000

8,092

4.75%,

8/01/2025

7,000

7,174

4.25%,

2/15/2029

30,000

29,562

Angi

Group

LLC,

3.88%,

8/15/2028

(a)(b)

25,000

24,459

Arches

Buyer,

Inc.

4.25%,

6/01/2028

(a)

20,000

20,153

6.13%,

12/01/2028

(a)

15,000

15,169

Audacy

Capital

Corp.,

6.50%,

5/01/2027

(a)

36,000

36,195

Avaya,

Inc.,

6.13%,

9/15/2028

(a)

45,000

46,854

Belo

Corp.

7.75%,

6/01/2027

13,000

15,407

7.25%,

9/15/2027

5,000

5,828

Block

Communications,

Inc.,

4.88%,

3/01/2028

(a)

15,000

15,401

C&W

Senior

Financing

Dac,

6.88%,

9/15/2027

(a)

25,000

26,344

Cars.com,

Inc.,

6.38%,

11/01/2028

(a)

20,000

20,908

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

5.13%,

5/01/2027

(a)

100,000

103,740

5.00%,

2/01/2028

(a)

90,000

93,599

5.38%,

6/01/2029

(a)

50,000

53,738

4.75%,

3/01/2030

(a)

105,000

108,531

4.50%,

8/15/2030

(a)

120,000

122,111

4.25%,

2/01/2031

(a)

145,000

144,290

4.50%,

5/01/2032

85,000

85,706

Cengage

Learning,

Inc.,

9.50%,

6/15/2024

(a)

30,000

30,750

Cincinnati

Bell,

Inc.

7.00%,

7/15/2024

(a)

30,000

30,510

8.00%,

10/15/2025

(a)

15,000

15,644

Clear

Channel

International

BV,

6.63%,

8/01/2025

(a)

20,000

20,812

Clear

Channel

Outdoor

Holdings,

Inc.,

7.75%,

4/15/2028

(a)(b)

50,000

51,794

Clear

Channel

Worldwide

Holdings,

Inc.,

5.13%,

8/15/2027

(a)

21,000

21,552

CommScope

Technologies

LLC

6.00%,

6/15/2025

(a)

31,000

30,671

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Communications

–

16.3%

(continued)

5.00%,

3/15/2027

(a)

40,000

37,151

CommScope,

Inc.

6.00%,

3/01/2026

(a)

35,000

36,252

8.25%,

3/01/2027

(a)

21,000

21,401

7.13%,

7/01/2028

(a)

20,000

19,714

Connect

Finco

Sarl

/

Connect

US

Finco

LLC,

6.75%,

10/01/2026

(a)

75,000

77,768

Consolidated

Communications,

Inc.

5.00%,

10/01/2028

(a)(b)

10,000

10,126

6.50%,

10/01/2028

(a)

20,000

21,305

CSC

Holdings

LLC

5.88%,

9/15/2022

17,000

17,492

5.25%,

6/01/2024

25,000

26,280

5.50%,

4/15/2027

(a)

35,000

36,139

5.38%,

2/01/2028

(a)

26,000

26,797

6.50%,

2/01/2029

(a)

60,000

64,323

5.75%,

1/15/2030

(a)

70,000

69,006

4.13%,

12/01/2030

(a)

25,000

23,944

4.63%,

12/01/2030

(a)

90,000

82,481

3.38%,

2/15/2031

(a)

45,000

40,971

Cumulus

Media

New

Holdings,

Inc.,

6.75%,

7/01/2026

(a)(b)

15,000

15,622

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

5.38%,

8/15/2026

(a)

55,000

31,075

6.63%,

8/15/2027

(a)(b)

20,000

5,982

DISH

DBS

Corp.

5.88%,

11/15/2024

49,000

52,288

5.13%,

6/01/2029

75,000

72,229

DKT

Finance

ApS,

9.38%,

6/17/2023

(a)

20,000

20,346

Embarq

Corp.,

8.00%,

6/01/2036

72,000

79,601

Endure

Digital,

Inc.,

6.00%,

2/15/2029

(a)

45,000

41,578

Frontier

Communications

Holdings

LLC

5.88%,

10/15/2027

(a)

30,000

31,534

5.00%,

5/01/2028

(a)

40,000

40,806

6.75%,

5/01/2029

(a)

25,000

25,900

5.88%,

11/01/2029

20,000

19,945

Frontier

North,

Inc.,

Series

G,

6.73%,

2/15/2028

30,000

32,164

Gannett

Holdings

LLC,

6.00%,

11/01/2026

(a)

60,000

60,088

GCI

LLC,

4.75%,

10/15/2028

(a)

35,000

36,214

Getty

Images,

Inc.,

9.75%,

3/01/2027

(a)

35,000

37,170

Go

Daddy

Operating

Co.

LLC

/

GD

Finance

Co.,

Inc.,

5.25%,

12/01/2027

(a)

17,000

17,655

Gray

Escrow

II,

Inc.,

5.38%,

11/15/2031

(a)

25,000

25,323

Gray

Television,

Inc.

5.88%,

7/15/2026

(a)

2,000

2,065

7.00%,

5/15/2027

(a)

10,000

10,724

4.75%,

10/15/2030

(a)

25,000

24,678

Grubhub

Holdings,

Inc.,

5.50%,

7/01/2027

(a)

15,000

15,401

GTT

Communications,

Inc.,

7.88%,

12/31/2024

(a)(d)

15,000

1,701

Hughes

Satellite

Systems

Corp.

5.25%,

8/01/2026

20,000

22,322

6.63%,

8/01/2026

(b)

40,000

45,337

iHeartCommunications,

Inc.

6.38%,

5/01/2026

20,000

20,952

8.38%,

5/01/2027

28,000

29,820

5.25%,

8/15/2027

(a)

40,000

40,945

Iliad

Holding

SAS,

6.50%,

10/15/2026

(a)

70,000

72,239

99

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Communications

–

16.3%

(continued)

Intrado

Corp.,

8.50%,

10/15/2025

(a)(b)

34,000

33,542

Koninklijke

KPN

NV,

7.00%,

3/28/2073

(a)

50,000

52,982

Lamar

Media

Corp.

4.88%,

1/15/2029

10,000

10,491

4.00%,

2/15/2030

30,000

30,456

3.63%,

1/15/2031

15,000

14,701

LCPR

Senior

Secured

Financing

DAC,

6.75%,

10/15/2027

(a)

25,000

26,378

Level

3

Financing,

Inc.

4.63%,

9/15/2027

(a)

30,000

30,763

4.25%,

7/01/2028

(a)

35,000

34,659

3.63%,

1/15/2029

(a)

25,000

23,661

3.75%,

7/15/2029

(a)

40,000

37,814

Liberty

Interactive

LLC

8.50%,

7/15/2029

25,000

27,909

8.25%,

2/01/2030

45,000

49,109

Ligado

Networks

LLC,

15.50%,

11/01/2023

(a)(c)

45,666

40,971

LogMeIn,

Inc.,

5.50%,

9/01/2027

(a)

40,000

40,063

Lumen

Technologies,

Inc.

Series

W,

6.75%,

12/01/2023

14,000

15,373

Series

Y,

7.50%,

4/01/2024

42,000

46,246

5.63%,

4/01/2025

15,000

16,132

5.13%,

12/15/2026

(a)(b)

16,000

16,386

4.00%,

2/15/2027

(a)

41,000

41,165

Series

G,

6.88%,

1/15/2028

(b)

5,000

5,566

4.50%,

1/15/2029

(a)

50,000

48,302

Series

P,

7.60%,

9/15/2039

10,000

11,043

Series

U,

7.65%,

3/15/2042

10,000

11,044

Match

Group

Holdings

II

LLC

4.63%,

6/01/2028

(a)

30,000

31,195

3.63%,

10/01/2031

(a)

40,000

38,861

Mav

Acquisition

Corp.,

8.00%,

8/01/2029

(a)

35,000

34,299

Meredith

Corp.,

6.50%,

7/01/2025

10,000

10,669

Midcontinent

Communications

/

Midcontinent

Finance

Corp.,

5.38%,

8/15/2027

(a)

10,000

10,397

Netflix,

Inc.

5.75%,

3/01/2024

10,000

11,012

5.88%,

2/15/2025

35,000

39,656

4.38%,

11/15/2026

15,000

16,699

4.88%,

4/15/2028

25,000

28,662

5.88%,

11/15/2028

50,000

60,883

6.38%,

5/15/2029

35,000

44,075

5.38%,

11/15/2029

(a)

40,000

48,230

4.88%,

6/15/2030

(a)

31,000

36,356

Nexstar

Media,

Inc.

5.63%,

7/15/2027

(a)

50,000

52,735

4.75%,

11/01/2028

(a)(b)

45,000

45,961

Nokia

OYJ

4.38%,

6/12/2027

8,000

8,625

6.63%,

5/15/2039

10,000

13,416

NortonLifeLock,

Inc.,

5.00%,

4/15/2025

(a)

35,000

35,464

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

6.25%,

6/15/2025

(a)

30,000

31,506

5.00%,

8/15/2027

(a)

20,000

20,394

4.25%,

1/15/2029

(a)

15,000

14,696

4.63%,

3/15/2030

(a)

25,000

24,992

Photo

Holdings

Merger

Sub,

Inc.,

8.50%,

10/01/2026

(a)(b)

30,000

31,530

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Communications

–

16.3%

(continued)

Radiate

Holdco

LLC

/

Radiate

Finance,

Inc.

4.50%,

9/15/2026

(a)

25,000

25,406

6.50%,

9/15/2028

(a)

30,000

30,021

Rakuten

Group,

Inc.

5.13%

(a)(e)

50,000

50,199

6.25%

(a)(e)

50,000

52,648

Scripps

Escrow

II,

Inc.

3.88%,

1/15/2029

(a)

15,000

14,989

5.38%,

1/15/2031

(a)

30,000

29,416

Scripps

Escrow,

Inc.,

5.88%,

7/15/2027

(a)

25,000

25,522

Sinclair

Television

Group,

Inc.,

5.50%,

3/01/2030

(a)

21,000

20,083

Sirius

XM

Radio,

Inc.

3.13%,

9/01/2026

(a)

30,000

30,068

5.00%,

8/01/2027

(a)

20,000

20,900

4.00%,

7/15/2028

(a)

85,000

85,572

5.50%,

7/01/2029

(a)

45,000

48,567

4.13%,

7/01/2030

(a)

30,000

29,866

Sprint

Capital

Corp.

6.88%,

11/15/2028

84,000

106,197

8.75%,

3/15/2032

45,000

67,170

Sprint

Communications,

Inc.,

6.00%,

11/15/2022

64,000

67,127

Sprint

Corp.

7.88%,

9/15/2023

120,000

133,214

7.13%,

6/15/2024

70,000

79,086

7.63%,

2/15/2025

40,000

46,532

7.63%,

3/01/2026

65,000

78,009

Switch

Ltd.,

3.75%,

9/15/2028

(a)

15,000

14,933

TEGNA,

Inc.

4.75%,

3/15/2026

(a)

30,000

31,251

4.63%,

3/15/2028

23,000

23,226

5.00%,

9/15/2029

31,000

31,398

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

60,000

69,153

6.00%,

9/30/2034

30,000

33,377

7.20%,

7/18/2036

30,000

36,488

7.72%,

6/04/2038

10,000

12,811

Telecom

Italia

SpA,

5.30%,

5/30/2024

(a)

40,000

42,608

Telesat

Canada

/

Telesat

LLC

4.88%,

6/01/2027

(a)

13,000

11,640

6.50%,

10/15/2027

(a)(b)

10,000

8,119

Terrier

Media

Buyer,

Inc.,

8.88%,

12/15/2027

(a)

30,000

31,786

T-Mobile

USA,

Inc.

2.25%,

2/15/2026

50,000

50,284

5.38%,

4/15/2027

25,000

26,070

4.75%,

2/01/2028

45,000

47,498

2.63%,

2/15/2029

50,000

49,545

3.38%,

4/15/2029

30,000

30,838

2.88%,

2/15/2031

40,000

39,831

3.50%,

4/15/2031

65,000

67,384

Townsquare

Media,

Inc.,

6.88%,

2/01/2026

(a)

40,000

42,117

Trilogy

International

South

Pacific

LLC

/

TISP

Finance,

Inc.,

8.88%,

5/15/2023

(a)

10,200

9,926

Tripadvisor,

Inc.,

7.00%,

7/15/2025

(a)

15,000

15,910

Twitter,

Inc.,

3.88%,

12/15/2027

(a)

20,000

21,035

U.S.

Cellular

Corp.,

6.70%,

12/15/2033

55,000

68,434

100

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Communications

–

16.3%

(continued)

Uber

Technologies,

Inc.

7.50%,

5/15/2025

(a)

25,000

26,642

8.00%,

11/01/2026

(a)

70,000

74,599

7.50%,

9/15/2027

(a)

32,000

35,024

4.50%,

8/15/2029

(a)

100,000

100,743

Univision

Communications,

Inc.

5.13%,

2/15/2025

(a)

53,000

53,949

9.50%,

5/01/2025

(a)

15,000

16,295

6.63%,

6/01/2027

(a)

40,000

43,290

4.50%,

5/01/2029

(a)

45,000

45,503

UPC

Broadband

Finco

BV,

4.88%,

7/15/2031

(a)

40,000

40,680

UPC

Holding

BV,

5.50%,

1/15/2028

(a)

15,000

15,567

Veon

Holdings

BV,

4.00%,

4/09/2025

(a)

75,000

77,848

ViacomCBS,

Inc.,

6.25%,

2/28/2057

42,000

48,011

ViaSat,

Inc.

5.63%,

4/15/2027

(a)

12,000

12,480

6.50%,

7/15/2028

(a)

25,000

26,274

Videotron

Ltd.

5.38%,

6/15/2024

(a)

30,000

32,249

3.63%,

6/15/2029

(a)

40,000

40,291

Virgin

Media

Finance

PLC,

5.00%,

7/15/2030

(a)

30,000

29,838

Virgin

Media

Secured

Finance

PLC

5.50%,

5/15/2029

(a)

25,000

26,339

4.50%,

8/15/2030

(a)

25,000

24,976

Virgin

Media

Vendor

Financing

Notes

IV

DAC,

5.00%,

7/15/2028

(a)

40,000

40,663

VMED

O2

UK

Financing

I

PLC,

4.25%,

1/31/2031

(a)

50,000

48,698

Vodafone

Group

PLC

7.00%,

4/04/2079

81,000

97,866

3.25%,

6/04/2081

40,000

40,164

4.13%,

6/04/2081

50,000

49,990

5.13%,

6/04/2081

55,000

56,281

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp.,

7.75%,

8/15/2028

(a)

30,000

31,745

Zayo

Group

Holdings,

Inc.

4.00%,

3/01/2027

(a)

41,000

39,812

6.13%,

3/01/2028

(a)

38,000

37,129

Ziggo

Bond

Co.

BV,

6.00%,

1/15/2027

(a)

25,000

25,833

Ziggo

BV

5.50%,

1/15/2027

(a)

100,000

103,125

4.88%,

1/15/2030

(a)

50,000

50,785

7,786,927

Consumer,

Cyclical

–

20.8%

1011778

BC

ULC

/

New

Red

Finance,

Inc.

5.75%,

4/15/2025

(a)

15,000

15,642

3.88%,

1/15/2028

(a)

75,000

74,816

4.38%,

1/15/2028

(a)

20,000

20,115

3.50%,

2/15/2029

(a)

20,000

19,380

4.00%,

10/15/2030

(a)

60,000

58,206

Abercrombie

&

Fitch

Management

Co.,

8.75%,

7/15/2025

(a)

10,000

10,805

Adient

US

LLC,

9.00%,

4/15/2025

(a)

10,000

10,716

Affinity

Gaming,

6.88%,

12/15/2027

(a)

15,000

15,555

Allen

Media

LLC

/

Allen

Media

Co.-Issuer,

Inc.,

10.50%,

2/15/2028

(a)

30,000

32,241

Allison

Transmission,

Inc.

4.75%,

10/01/2027

(a)

10,000

10,407

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

5.88%,

6/01/2029

(a)

15,000

16,170

3.75%,

1/30/2031

(a)

20,000

19,221

AMC

Entertainment

Holdings,

Inc.,

10.50%,

4/24/2026

(a)

5,000

5,353

American

Airlines

Group,

Inc.

5.00%,

6/01/2022

(a)

25,000

25,087

3.75%,

3/01/2025

(a)(b)

7,000

6,388

American

Airlines

Pass-Through

Trust

Series

2013-2,

,

Class

A4.95%,

1/15/2023

36,451

37,237

Series

2013-1,

,

Class

A4.00%,

7/15/2025

101,588

98,598

Series

2014-1,

,

Class

A3.70%,

10/01/2026

81,298

83,087

Series

2015-1,

,

Class

A3.38%,

5/01/2027

70,164

70,600

Series

2016-1,

,

Class

A4.10%,

1/15/2028

30,475

30,325

Series

2016-2,

,

Class

A3.65%,

6/15/2028

73,191

71,465

Series

2016-3,

,

Class

A3.25%,

10/15/2028

23,150

22,477

Series

2021-1,

,

Class

B3.95%,

7/11/2030

50,000

50,207

American

Airlines,

Inc.,

11.75%,

7/15/2025

(a)

65,000

80,521

American

Airlines,

Inc./Aadvantage

Loyalty

Ip

Ltd.

5.50%,

4/20/2026

(a)

55,000

57,677

5.75%,

4/20/2029

(a)

60,000

64,580

American

Axle

&

Manufacturing,

Inc.,

5.00%,

10/01/2029

(b)

20,000

19,109

American

Builders

&

Contractors

Supply

Co.,

Inc.,

4.00%,

1/15/2028

(a)

45,000

45,782

American

Greetings

Corp.,

8.75%,

4/15/2025

(a)

20,000

20,821

Aramark

Services,

Inc.

5.00%,

4/01/2025

(a)

30,000

30,703

6.38%,

5/01/2025

(a)

35,000

36,841

5.00%,

2/01/2028

(a)

46,000

47,243

Arko

Corp.,

5.13%,

11/15/2029

(a)

125,000

122,358

Arrow

Bidco

LLC,

9.50%,

3/15/2024

(a)

10,000

10,201

Asbury

Automotive

Group,

Inc.

4.50%,

3/01/2028

10,000

10,207

4.75%,

3/01/2030

11,000

11,222

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

6.63%,

1/15/2028

(a)

5,000

5,311

4.63%,

4/01/2030

(a)

10,000

9,871

Aston

Martin

Capital

Holdings

Ltd.,

10.50%,

11/30/2025

(a)

50,000

54,875

Avient

Corp.,

5.75%,

5/15/2025

(a)

20,000

20,970

Bath

&

Body

Works,

Inc.

6.69%,

1/15/2027

5,000

5,729

5.25%,

2/01/2028

25,000

26,975

7.50%,

6/15/2029

15,000

16,948

6.63%,

10/01/2030

(a)

30,000

33,570

6.88%,

11/01/2035

10,000

12,147

6.75%,

7/01/2036

15,000

18,016

7.60%,

7/15/2037

4,000

4,772

Beacon

Roofing

Supply,

Inc.,

4.50%,

11/15/2026

(a)

13,000

13,472

Beazer

Homes

USA,

Inc.,

5.88%,

10/15/2027

(b)

10,000

10,448

Bluelinx

Holdings,

Inc.,

6.00%,

11/15/2029

(a)

125,000

122,386

Boyd

Gaming

Corp.

4.75%,

12/01/2027

(b)

15,000

15,450

4.75%,

6/15/2031

(a)

25,000

25,737

Brinker

International,

Inc.

3.88%,

5/15/2023

10,000

10,284

101

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

5.00%,

10/01/2024

(a)

10,000

10,593

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential

US

Corp.,

6.25%,

9/15/2027

(a)

35,000

36,531

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential

US

LLC,

4.88%,

2/15/2030

(a)

10,000

10,030

Caesars

Entertainment,

Inc.

6.25%,

7/01/2025

(a)

100,000

105,261

8.13%,

7/01/2027

(a)(b)

45,000

50,418

4.63%,

10/15/2029

(a)

25,000

25,149

Caesars

Resort

Collection

LLC

/

CRC

Finco,

Inc.,

5.75%,

7/01/2025

(a)

25,000

26,264

Carnival

Corp.

10.50%,

2/01/2026

(a)(b)

45,000

52,275

7.63%,

3/01/2026

(a)

45,000

47,391

5.75%,

3/01/2027

(a)

80,000

81,400

9.88%,

8/01/2027

(a)(b)

45,000

51,863

6.65%,

1/15/2028

(b)

20,000

21,144

4.00%,

8/01/2028

(a)

20,000

19,987

6.00%,

5/01/2029

(a)

125,000

125,381

Carvana

Co.

5.63%,

10/01/2025

(a)

35,000

35,774

5.88%,

10/01/2028

(a)

20,000

20,348

4.88%,

9/01/2029

(a)

25,000

24,194

CD&R

Smokey

Buyer,

Inc.,

6.75%,

7/15/2025

(a)

15,000

15,887

CEC

Entertainment

LLC,

6.75%,

5/01/2026

(a)

30,000

29,990

Cedar

Fair

LP,

5.25%,

7/15/2029

15,000

15,545

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.

/

Millennium

Op

5.50%,

5/01/2025

(a)

75,000

77,999

5.38%,

4/15/2027

30,000

30,906

6.50%,

10/01/2028

5,000

5,359

Century

Communities,

Inc.,

6.75%,

6/01/2027

16,000

17,004

Churchill

Downs,

Inc.

5.50%,

4/01/2027

(a)

15,000

15,544

4.75%,

1/15/2028

(a)

15,000

15,573

Clarios

Global

LP,

6.75%,

5/15/2025

(a)

13,000

13,691

Clarios

Global

LP

/

Clarios

US

Finance

Co.

6.25%,

5/15/2026

(a)

41,000

42,898

8.50%,

5/15/2027

(a)

50,000

53,140

Constellation

Merger

Sub,

Inc.,

8.50%,

9/15/2025

(a)

10,000

9,605

Dana

Financing

Luxembourg

Sarl,

5.75%,

4/15/2025

(a)

7,000

7,209

Dave

&

Buster's,

Inc.,

7.63%,

11/01/2025

(a)

13,000

13,955

Dealer

Tire

LLC

/

DT

Issuer

LLC,

8.00%,

2/01/2028

(a)

15,000

15,677

Delta

Air

Lines,

Inc.

3.80%,

4/19/2023

20,000

20,708

2.90%,

10/28/2024

65,000

66,328

7.38%,

1/15/2026

45,000

52,904

4.38%,

4/19/2028

(b)

20,000

21,339

3.75%,

10/28/2029

(b)

20,000

20,302

Downstream

Development

Authority

of

The

Quapaw

Tribe

of

Oklahoma,

10.50%,

2/15/2023

(a)

10,000

10,372

eG

Global

Finance

PLC,

6.75%,

2/07/2025

(a)

22,000

22,535

Empire

Communities

Corp.,

7.00%,

12/15/2025

(a)

30,000

31,216

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp.

5.38%,

4/01/2026

(a)

30,000

29,214

5.88%,

4/01/2029

(a)

20,000

19,449

FirstCash,

Inc.,

4.63%,

9/01/2028

(a)

20,000

20,615

Ford

Holdings

LLC,

9.30%,

3/01/2030

5,000

6,825

Ford

Motor

Co.

8.50%,

4/21/2023

90,000

98,622

9.00%,

4/22/2025

115,000

138,300

7.13%,

11/15/2025

65,000

75,095

4.35%,

12/08/2026

50,000

53,491

6.63%,

10/01/2028

30,000

36,130

6.38%,

2/01/2029

10,000

11,722

9.63%,

4/22/2030

25,000

36,017

7.45%,

7/16/2031

72,000

95,267

4.75%,

1/15/2043

60,000

65,560

7.40%,

11/01/2046

10,000

13,714

5.29%,

12/08/2046

35,000

40,195

9.98%,

2/15/2047

5,000

8,053

Ford

Motor

Credit

Co.

LLC

2.98%,

8/03/2022

20,000

20,177

4.25%,

9/20/2022

10,000

10,226

3.55%,

10/07/2022

15,000

15,230

3.35%,

11/01/2022

40,000

40,592

3.09%,

1/09/2023

30,000

30,486

4.14%,

2/15/2023

35,000

36,008

3.10%,

5/04/2023

20,000

20,382

4.38%,

8/06/2023

10,000

10,418

3.37%,

11/17/2023

10,000

10,257

3.81%,

1/09/2024

20,000

20,658

5.58%,

3/18/2024

50,000

53,872

3.66%,

9/08/2024

35,000

36,311

4.06%,

11/01/2024

40,000

41,999

4.69%,

6/09/2025

40,000

42,774

5.13%,

6/16/2025

35,000

38,013

4.13%,

8/04/2025

50,000

52,817

4.39%,

1/08/2026

25,000

26,710

4.54%,

8/01/2026

15,000

16,144

4.27%,

1/09/2027

20,000

21,223

4.13%,

8/17/2027

45,000

47,670

3.82%,

11/02/2027

35,000

36,408

5.11%,

5/03/2029

65,000

72,379

4.00%,

11/13/2030

25,000

26,103

Forestar

Group,

Inc.,

5.00%,

3/01/2028

(a)

5,000

5,171

Full

House

Resorts,

Inc.,

8.25%,

2/15/2028

(a)

20,000

21,109

Gap,

Inc.

(The),

3.63%,

10/01/2029

(a)

16,000

15,692

Gateway

Casinos

&

Entertainment

Ltd.,

8.25%,

3/01/2024

(a)

2,000

2,059

Genting

New

York

LLC

/

Genny

Capital,

Inc.,

3.30%,

2/15/2026

(a)

60,000

59,324

G-III

Apparel

Group

Ltd.,

7.88%,

8/15/2025

(a)

10,000

10,663

Golden

Nugget,

Inc.,

6.75%,

10/15/2024

(a)

35,000

35,129

Goodyear

Tire

&

Rubber

Co.

(The)

9.50%,

5/31/2025

45,000

48,999

5.00%,

5/31/2026

10,000

10,267

5.00%,

7/15/2029

(a)

45,000

47,462

5.63%,

4/30/2033

30,000

32,281

Group

1

Automotive,

Inc.,

4.00%,

8/15/2028

(a)

42,000

42,005

H&E

Equipment

Services,

Inc.,

3.88%,

12/15/2028

(a)

30,000

29,887

102

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

Hanesbrands,

Inc.

4.63%,

5/15/2024

(a)

23,000

24,047

5.38%,

5/15/2025

(a)

15,000

15,623

4.88%,

5/15/2026

(a)

25,000

26,735

Hilton

Domestic

Operating

Co.,

Inc.

5.38%,

5/01/2025

(a)

40,000

41,737

5.75%,

5/01/2028

(a)

15,000

16,117

3.75%,

5/01/2029

(a)

20,000

20,067

4.00%,

5/01/2031

(a)

70,000

70,355

3.63%,

2/15/2032

(a)

102,000

99,596

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Esc,

5.00%,

6/01/2029

(a)

58,000

59,191

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp.,

4.88%,

4/01/2027

30,000

31,057

IAA,

Inc.,

5.50%,

6/15/2027

(a)

37,000

38,532

IHO

Verwaltungs

GmbH

4.75%,

9/15/2026

(a)(c)

25,000

25,569

6.00%,

5/15/2027

(a)(c)

20,000

20,761

6.38%,

5/15/2029

(a)(c)

25,000

27,076

Installed

Building

Products,

Inc.,

5.75%,

2/01/2028

(a)

20,000

20,990

International

Game

Technology

PLC,

6.25%,

1/15/2027

(a)

10,000

11,264

IRB

Holding

Corp.,

7.00%,

6/15/2025

(a)

25,000

26,484

Jacobs

Entertainment,

Inc.,

7.88%,

2/01/2024

(a)

30,000

30,900

Jaguar

Land

Rover

Automotive

PLC

5.63%,

2/01/2023

(a)

16,000

16,080

5.88%,

1/15/2028

(a)(b)

29,740

29,655

5.50%,

7/15/2029

(a)

45,000

43,422

JB

Poindexter

&

Co.,

Inc.,

7.13%,

4/15/2026

(a)

15,000

15,766

K

Hovnanian

Enterprises,

Inc.,

10.50%,

2/15/2026

(a)

10,000

10,658

KAR

Auction

Services,

Inc.,

5.13%,

6/01/2025

(a)

40,000

40,188

KB

Home

7.50%,

9/15/2022

8,000

8,435

7.63%,

5/15/2023

21,000

22,363

6.88%,

6/15/2027

10,000

11,804

4.80%,

11/15/2029

36,000

38,841

KFC

Holding

Co/Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC,

4.75%,

6/01/2027

(a)

20,000

20,737

LBM

Acquisition

LLC,

6.25%,

1/15/2029

(a)

15,000

14,560

LCM

Investments

Holdings

II

LLC,

4.88%,

5/01/2029

(a)

30,000

30,802

Levi

Strauss

&

Co.,

3.50%,

3/01/2031

(a)

25,000

25,320

LGI

Homes,

Inc.,

4.00%,

7/15/2029

(a)

55,000

53,632

Life

Time,

Inc.,

8.00%,

4/15/2026

(a)

10,000

10,501

Lithia

Motors,

Inc.

4.63%,

12/15/2027

(a)

7,000

7,407

3.88%,

6/01/2029

(a)

50,000

51,813

4.38%,

1/15/2031

(a)

30,000

31,975

Live

Nation

Entertainment,

Inc.

4.88%,

11/01/2024

(a)

15,000

15,176

5.63%,

3/15/2026

(a)

26,000

26,975

4.75%,

10/15/2027

(a)

5,000

5,099

3.75%,

1/15/2028

(a)

85,000

84,236

M/I

Homes,

Inc.,

4.95%,

2/01/2028

8,000

8,336

Macy's

Retail

Holdings

LLC

2.88%,

2/15/2023

19,000

19,222

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

5.88%,

4/01/2029

(a)(b)

15,000

15,991

6.38%,

3/15/2037

10,000

10,561

5.13%,

1/15/2042

10,000

9,411

4.30%,

2/15/2043

25,000

21,459

Marriott

Ownership

Resorts,

Inc.,

6.13%,

9/15/2025

(a)

6,000

6,302

Mattamy

Group

Corp.

5.25%,

12/15/2027

(a)

15,000

15,641

4.63%,

3/01/2030

(a)

18,000

18,269

Mattel,

Inc.

3.15%,

3/15/2023

17,000

17,404

5.88%,

12/15/2027

(a)

20,000

21,541

6.20%,

10/01/2040

15,000

19,141

5.45%,

11/01/2041

5,000

5,919

Melco

Resorts

Finance

Ltd.

5.75%,

7/21/2028

(a)

15,000

14,877

5.38%,

12/04/2029

(a)

30,000

29,518

Meritage

Homes

Corp.,

6.00%,

6/01/2025

27,000

30,246

Meritor,

Inc.

6.25%,

6/01/2025

(a)

25,000

26,219

4.50%,

12/15/2028

(a)

10,000

9,995

Merlin

Entertainments

Ltd.,

5.75%,

6/15/2026

(a)

25,000

25,851

MGM

China

Holdings

Ltd.,

5.38%,

5/15/2024

(a)

35,000

35,079

MGM

Resorts

International

6.00%,

3/15/2023

23,000

24,307

6.75%,

5/01/2025

20,000

21,096

5.75%,

6/15/2025

20,000

21,684

4.63%,

9/01/2026

10,000

10,443

5.50%,

4/15/2027

15,000

16,158

4.75%,

10/15/2028

15,000

15,602

Michaels

Cos.,

Inc.

(The),

7.88%,

5/01/2029

(a)

40,000

40,526

Midwest

Gaming

Borrower

LLC

/

Midwest

Gaming

Finance

Corp.,

4.88%,

5/01/2029

(a)

30,000

30,273

Mohegan

Gaming

&

Entertainment

7.88%,

10/15/2024

(a)

10,000

10,379

8.00%,

2/01/2026

(a)

45,000

46,522

Murphy

Oil

USA,

Inc.

5.63%,

5/01/2027

17,000

17,727

4.75%,

9/15/2029

20,000

21,086

3.75%,

2/15/2031

(a)

20,000

19,707

NCL

Corp.

Ltd.

12.25%,

5/15/2024

(a)

20,000

23,599

3.63%,

12/15/2024

(a)

10,000

9,480

10.25%,

2/01/2026

(a)

30,000

34,448

Newell

Brands,

Inc.

4.35%,

4/01/2023

11,000

11,463

4.88%,

6/01/2025

30,000

32,847

4.70%,

4/01/2026

70,000

76,679

6.00%,

4/01/2046

31,000

38,913

Nordstrom,

Inc.

6.95%,

3/15/2028

20,000

23,457

4.38%,

4/01/2030

(b)

15,000

15,267

4.25%,

8/01/2031

(b)

60,000

60,078

5.00%,

1/15/2044

(b)

50,000

49,480

Papa

John's

International,

Inc.,

3.88%,

9/15/2029

(a)

33,000

32,262

Peninsula

Pacific

Entertainment

LLC

/

Peninsula

Pacific

Entertainment

Finance

In,

8.50%,

11/15/2027

(a)

25,000

26,677

103

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

Penske

Automotive

Group,

Inc.,

3.50%,

9/01/2025

15,000

15,403

Petsmart,

Inc.

/

Petsmart

Finance

Corp.

4.75%,

2/15/2028

(a)

75,000

77,083

7.75%,

2/15/2029

(a)

55,000

59,526

Picasso

Finance

Sub,

Inc.,

6.13%,

6/15/2025

(a)

29,000

30,542

PM

General

Purchaser

LLC,

9.50%,

10/01/2028

(a)

15,000

15,642

Powdr

Corp.,

6.00%,

8/01/2025

(a)

10,000

10,460

QVC,

Inc.

4.38%,

3/15/2023

35,000

36,343

4.85%,

4/01/2024

20,000

21,438

4.45%,

2/15/2025

20,000

21,425

4.75%,

2/15/2027

30,000

31,448

4.38%,

9/01/2028

15,000

15,332

5.45%,

8/15/2034

80,000

83,423

5.95%,

3/15/2043

20,000

20,772

Rite

Aid

Corp.

7.50%,

7/01/2025

(a)

30,000

30,150

8.00%,

11/15/2026

(a)

25,000

25,238

7.70%,

2/15/2027

(b)

20,000

18,062

Royal

Caribbean

Cruises

Ltd.

5.25%,

11/15/2022

50,000

51,366

10.88%,

6/01/2023

(a)

70,000

78,365

9.13%,

6/15/2023

(a)

20,000

21,720

11.50%,

6/01/2025

(a)

36,000

40,983

7.50%,

10/15/2027

35,000

40,918

3.70%,

3/15/2028

(b)

20,000

18,970

5.50%,

4/01/2028

(a)

40,000

40,652

Sally

Holdings

LLC

/

Sally

Capital,

Inc.,

8.75%,

4/30/2025

(a)

10,000

10,738

Scientific

Games

International,

Inc.

8.63%,

7/01/2025

(a)

20,000

21,618

5.00%,

10/15/2025

(a)

32,000

32,968

8.25%,

3/15/2026

(a)

25,000

26,530

7.00%,

5/15/2028

(a)

36,000

38,890

7.25%,

11/15/2029

(a)(b)

10,000

11,302

Scotts

Miracle-GRO

Co.

(The)

5.25%,

12/15/2026

10,000

10,304

4.50%,

10/15/2029

15,000

15,616

Seaworld

Parks

&

Entertainment,

Inc.,

5.25%,

8/15/2029

(a)

45,000

45,890

Shea

Homes

LP

/

Shea

Homes

Funding

Corp.,

4.75%,

2/15/2028

(a)

20,000

20,159

Six

Flags

Entertainment

Corp.

4.88%,

7/31/2024

(a)

35,000

35,425

5.50%,

4/15/2027

(a)

30,000

31,088

Six

Flags

Theme

Parks,

Inc.,

7.00%,

7/01/2025

(a)

15,000

15,953

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp.,

6.38%,

9/30/2026

(a)

20,000

20,828

Speedway

Motorsports

LLC

/

Speedway

Funding

II,

Inc.,

4.88%,

11/01/2027

(a)

11,000

11,219

Spirit

Loyalty

Cayman

Ltd.

/

Spirit

IP

Cayman

Ltd.,

8.00%,

9/20/2025

(a)

5,640

6,314

SRS

Distribution,

Inc.,

6.13%,

7/01/2029

(a)

15,000

15,430

Staples,

Inc.

7.50%,

4/15/2026

(a)

30,000

30,382

10.75%,

4/15/2027

(a)

30,000

28,638

Station

Casinos

LLC,

4.50%,

2/15/2028

(a)

35,000

35,281

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

Studio

City

Finance

Ltd.

6.00%,

7/15/2025

(a)

10,000

9,768

6.50%,

1/15/2028

(a)

10,000

9,619

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp.,

5.88%,

3/01/2027

20,000

20,792

Sugarhouse

HSP

Gaming

Prop

Mezz

LP

/

Sugarhouse

HSP

Gaming

Finance

Corp.,

5.88%,

5/15/2025

(a)

15,000

14,880

Superior

Plus

LP

/

Superior

General

Partner,

Inc.,

4.50%,

3/15/2029

(a)

20,000

20,440

Taylor

Morrison

Communities,

Inc.

6.63%,

7/15/2027

(a)

15,000

15,826

5.75%,

1/15/2028

(a)

15,000

16,507

5.13%,

8/01/2030

(a)

20,000

21,298

Taylor

Morrison

Communities,

Inc.

/

Taylor

Morrison

Holdings

II,

Inc.

5.88%,

4/15/2023

(a)

10,000

10,462

5.63%,

3/01/2024

(a)

13,000

13,906

Tenneco,

Inc.,

5.13%,

4/15/2029

(a)

10,000

9,910

TKC

Holdings,

Inc.,

6.88%,

5/15/2028

(a)

30,000

30,838

Toll

Brothers

Finance

Corp.

4.38%,

4/15/2023

10,000

10,353

3.80%,

11/01/2029

(b)

25,000

26,751

Travel

+

Leisure

Co.

3.90%,

3/01/2023

10,000

10,329

5.65%,

4/01/2024

7,000

7,587

6.60%,

10/01/2025

25,000

27,911

6.63%,

7/31/2026

(a)

23,000

25,677

6.00%,

4/01/2027

11,000

12,005

4.63%,

3/01/2030

(a)

7,000

7,258

TRI

Pointe

Group,

Inc.

5.25%,

6/01/2027

10,000

10,790

5.70%,

6/15/2028

6,000

6,524

Under

Armour,

Inc.,

3.25%,

6/15/2026

(b)

10,000

10,301

United

Airlines

Holdings,

Inc.

4.25%,

10/01/2022

25,000

25,514

5.00%,

2/01/2024

10,000

10,388

4.88%,

1/15/2025

(b)

10,000

10,340

United

Airlines,

Inc.

4.38%,

4/15/2026

(a)

55,000

56,948

4.63%,

4/15/2029

(a)

55,000

56,718

Univar

Solutions

USA,

Inc.,

5.13%,

12/01/2027

(a)

15,000

15,705

Victoria's

Secret

&

Co.,

4.63%,

7/15/2029

(a)

30,000

30,124

Viking

Cruises

Ltd.

6.25%,

5/15/2025

(a)

10,000

9,978

5.88%,

9/15/2027

(a)

30,000

29,092

VOC

Escrow

Ltd.,

5.00%,

2/15/2028

(a)

20,000

19,892

Wheel

Pros,

Inc.,

6.50%,

5/15/2029

(a)

30,000

29,200

White

Capital

Buyer

LLC,

6.88%,

10/15/2028

(a)

20,000

20,677

White

Capital

Parent

LLC,

8.25%,

3/15/2026

(a)(c)

25,000

25,264

William

Carter

Co.

(The)

5.50%,

5/15/2025

(a)

40,000

41,855

5.63%,

3/15/2027

(a)

25,000

25,937

Williams

Scotsman

International,

Inc.,

4.63%,

8/15/2028

(a)

15,000

15,510

Winnebago

Industries,

Inc.,

6.25%,

7/15/2028

(a)

30,000

32,416

WMG

Acquisition

Corp.

3.88%,

7/15/2030

(a)

15,000

15,600

3.00%,

2/15/2031

(a)

20,000

19,456

104

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Cyclical

–

20.8%

(continued)

Wolverine

Escrow

LLC,

8.50%,

11/15/2024

(a)(b)

20,000

18,550

Wyndham

Hotels

&

Resorts,

Inc.,

4.38%,

8/15/2028

(a)

30,000

31,025

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

5.50%,

3/01/2025

(a)

40,000

40,695

5.25%,

5/15/2027

(a)(b)

25,000

25,326

Wynn

Macau

Ltd.

5.50%,

1/15/2026

(a)

25,000

23,619

5.50%,

10/01/2027

(a)

45,000

41,907

5.63%,

8/26/2028

(a)

15,000

13,828

5.13%,

12/15/2029

(a)(b)

20,000

18,042

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

7.75%,

4/15/2025

(a)

30,000

31,608

5.13%,

10/01/2029

(a)

30,000

30,165

Yum!

Brands,

Inc.

3.88%,

11/01/2023

17,000

17,819

4.75%,

1/15/2030

(a)

55,000

59,028

3.63%,

3/15/2031

65,000

64,260

4.63%,

1/31/2032

75,000

78,203

6.88%,

11/15/2037

5,000

6,401

5.35%,

11/01/2043

5,000

5,568

ZF

North

America

Capital,

Inc.,

4.75%,

4/29/2025

(a)

27,000

29,178

9,931,277

Consumer,

Non-cyclical

–

17.3%

Acadia

Healthcare

Co.,

Inc.

5.50%,

7/01/2028

(a)

15,000

15,721

5.00%,

4/15/2029

(a)

20,000

20,403

AdaptHealth

LLC,

6.13%,

8/01/2028

(a)

10,000

10,606

ADT

Security

Corp.

(The)

4.13%,

8/01/2029

(a)

30,000

29,581

4.88%,

7/15/2032

(a)

35,000

34,979

Ahern

Rentals,

Inc.,

7.38%,

5/15/2023

(a)

43,000

41,312

Akumin

Escrow,

Inc.,

7.50%,

8/01/2028

(a)

55,000

51,997

Akumin,

Inc.,

7.00%,

11/01/2025

(a)

10,000

9,556

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

LP

/

Albertsons

LLC

5.75%,

3/15/2025

10,000

10,144

3.25%,

3/15/2026

(a)

20,000

20,339

7.50%,

3/15/2026

(a)

23,000

24,781

4.63%,

1/15/2027

(a)

35,000

36,620

5.88%,

2/15/2028

(a)

30,000

31,913

3.50%,

3/15/2029

(a)

55,000

54,204

4.88%,

2/15/2030

(a)

35,000

37,511

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

6.63%,

7/15/2026

(a)

55,000

57,843

9.75%,

7/15/2027

(a)

28,000

30,219

6.00%,

6/01/2029

(a)(b)

30,000

29,546

Allied

Universal

Holdco

LLC/

Allied

Universal

Finance

Corp./Atlas

Luxco

4

Sarl,

4.63%,

6/01/2028

(a)

50,000

49,557

AMN

Healthcare,

Inc.,

4.63%,

10/01/2027

(a)

15,000

15,407

Aptim

Corp.,

7.75%,

6/15/2025

(a)

35,000

28,370

APX

Group,

Inc.,

6.75%,

2/15/2027

(a)

20,000

21,163

ASGN,

Inc.,

4.63%,

5/15/2028

(a)

20,000

20,655

Avantor

Funding,

Inc.,

4.63%,

7/15/2028

(a)

45,000

46,692

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Non-cyclical

–

17.3%

(continued)

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance,

Inc.,

5.75%,

7/15/2027

(a)

10,000

10,454

Avon

Products,

Inc.

6.50%,

3/15/2023

13,000

13,697

8.45%,

3/15/2043

5,000

6,323

B&G

Foods,

Inc.,

5.25%,

9/15/2027

2,000

2,052

Bausch

Health

Americas,

Inc.

9.25%,

4/01/2026

(a)

63,000

67,032

8.50%,

1/31/2027

(a)

55,000

58,527

Bausch

Health

Cos.,

Inc.

6.13%,

4/15/2025

(a)

82,000

83,577

5.50%,

11/01/2025

(a)

10,000

10,171

9.00%,

12/15/2025

(a)

45,000

47,226

5.75%,

8/15/2027

(a)

15,000

15,711

7.00%,

1/15/2028

(a)

28,000

28,381

5.00%,

1/30/2028

(a)

55,000

50,925

6.25%,

2/15/2029

(a)

25,000

24,219

7.25%,

5/30/2029

(a)

22,000

22,306

5.25%,

1/30/2030

(a)

45,000

40,663

5.25%,

2/15/2031

(a)

55,000

49,519

Brink's

Co.

(The),

5.50%,

7/15/2025

(a)

20,000

20,984

Cano

Health

LLC,

6.25%,

10/01/2028

(a)

15,000

15,086

Catalent

Pharma

Solutions,

Inc.

5.00%,

7/15/2027

(a)

20,000

20,758

3.13%,

2/15/2029

(a)

30,000

29,282

Centene

Corp.

4.25%,

12/15/2027

100,000

104,753

4.63%,

12/15/2029

125,000

135,020

3.38%,

2/15/2030

70,000

71,963

3.00%,

10/15/2030

60,000

60,970

Central

Garden

&

Pet

Co.

5.13%,

2/01/2028

5,000

5,252

4.13%,

10/15/2030

30,000

30,248

Charles

River

Laboratories

International,

Inc.

4.25%,

5/01/2028

(a)

25,000

25,823

3.75%,

3/15/2029

(a)

50,000

50,502

4.00%,

3/15/2031

(a)

15,000

15,522

Chobani

LLC

/

Chobani

Finance

Corp.,

Inc.,

7.50%,

4/15/2025

(a)

15,000

15,592

CHS/Community

Health

Systems,

Inc.

6.63%,

2/15/2025

(a)

30,000

31,315

8.00%,

3/15/2026

(a)

50,000

52,821

5.63%,

3/15/2027

(a)

50,000

52,335

6.88%,

4/01/2028

(a)

20,000

18,801

6.00%,

1/15/2029

(a)

20,000

21,151

6.88%,

4/15/2029

(a)

50,000

51,434

4.75%,

2/15/2031

(a)

25,000

25,001

Cimpress

PLC,

7.00%,

6/15/2026

(a)

40,000

41,654

Cooke

Omega

Investments,

Inc.

/

Alpha

Vesselco

Holdings,

Inc.,

8.50%,

12/15/2022

(a)

10,000

10,205

CoreCivic,

Inc.

4.63%,

5/01/2023

(b)

13,000

13,198

4.75%,

10/15/2027

(b)

25,000

22,674

Coty,

Inc.,

6.50%,

4/15/2026

(a)

20,000

20,577

Darling

Ingredients,

Inc.,

5.25%,

4/15/2027

(a)

38,000

39,401

DaVita,

Inc.

4.63%,

6/01/2030

(a)

90,000

90,514

3.75%,

2/15/2031

(a)

50,000

47,395

105

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Non-cyclical

–

17.3%

(continued)

Del

Monte

Foods,

Inc.,

11.88%,

5/15/2025

(a)

10,000

11,228

Deluxe

Corp.,

8.00%,

6/01/2029

(a)

35,000

36,979

Edgewell

Personal

Care

Co.

5.50%,

6/01/2028

(a)

35,000

36,607

4.13%,

4/01/2029

(a)

35,000

34,544

Elanco

Animal

Health,

Inc.

5.27%,

8/28/2023

32,000

34,083

5.90%,

8/28/2028

22,000

25,699

Emergent

Biosolutions,

Inc.,

3.88%,

8/15/2028

(a)(b)

15,000

14,469

Encompass

Health

Corp.

4.50%,

2/01/2028

35,000

35,637

4.75%,

2/01/2030

35,000

36,018

4.63%,

4/01/2031

25,000

25,682

ENDO

Dac

/

ENDO

Finance

LLC

/

ENDO

Finco,

Inc.,

9.50%,

7/31/2027

(a)(b)

25,000

24,824

Envision

Healthcare

Corp.,

8.75%,

10/15/2026

(a)

15,000

10,102

Fresh

Market,

Inc.

(The),

9.75%,

5/01/2023

(a)

10,000

10,289

Garda

World

Security

Corp.

4.63%,

2/15/2027

(a)

15,000

14,889

9.50%,

11/01/2027

(a)

15,000

16,186

Gartner,

Inc.

4.50%,

7/01/2028

(a)

20,000

20,845

3.63%,

6/15/2029

(a)

50,000

50,237

3.75%,

10/01/2030

(a)

25,000

25,483

Global

Medical

Response,

Inc.,

6.50%,

10/01/2025

(a)

20,000

19,851

Graham

Holdings

Co.,

5.75%,

6/01/2026

(a)

11,000

11,468

Hadrian

Merger

Sub,

Inc.,

8.50%,

5/01/2026

(a)

15,000

15,525

HCA,

Inc.

5.88%,

5/01/2023

35,000

37,451

8.36%,

4/15/2024

21,000

24,327

5.38%,

2/01/2025

98,000

109,016

5.88%,

2/15/2026

22,000

25,057

5.38%,

9/01/2026

20,000

22,771

7.05%,

12/01/2027

5,000

6,282

5.63%,

9/01/2028

55,000

64,682

5.88%,

2/01/2029

25,000

29,756

3.50%,

9/01/2030

47,000

49,489

7.50%,

11/15/2095

5,000

7,481

Healthequity,

Inc.,

4.50%,

10/01/2029

(a)

20,000

20,246

Herbalife

Nutrition

Ltd.

/

Hlf

Financing,

Inc.,

7.88%,

9/01/2025

(a)

30,000

32,217

Herc

Holdings,

Inc.,

5.50%,

7/15/2027

(a)

40,000

41,743

H-Food

Holdings

LLC

/

Hearthside

Finance

Co.,

Inc.,

8.50%,

6/01/2026

(a)

15,000

15,525

Hill-Rom

Holdings,

Inc.,

4.38%,

9/15/2027

(a)

5,000

5,200

HLF

Financing

Sarl

LLC

/

Herbalife

International,

Inc.,

4.88%,

6/01/2029

(a)

50,000

50,398

Hologic,

Inc.

4.63%,

2/01/2028

(a)

30,000

31,275

3.25%,

2/15/2029

(a)

40,000

39,706

Horizon

Therapeutics

USA,

Inc.,

5.50%,

8/01/2027

(a)

37,000

39,154

IHS

Markit

Ltd.,

4.25%,

5/01/2029

25,000

28,511

Ingles

Markets,

Inc.,

4.00%,

6/15/2031

(a)

45,000

44,968

IQVIA,

Inc.

5.00%,

10/15/2026

(a)

25,000

25,724

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Non-cyclical

–

17.3%

(continued)

5.00%,

5/15/2027

(a)

50,000

51,834

Jaguar

Holding

Co.

II

/

Ppd

Development

LP

4.63%,

6/15/2025

(a)

10,000

10,412

5.00%,

6/15/2028

(a)

20,000

21,487

Jazz

Securities

DAC,

4.38%,

1/15/2029

(a)

20,000

20,574

JBS

Finance

Luxembourg

Sarl,

3.63%,

1/15/2032

(a)

50,000

49,567

JBS

USA

Food

Co.,

7.00%,

1/15/2026

(a)

46,000

47,963

JBS

USA

LUX

SA

/

JBS

USA

Finance,

Inc.,

6.75%,

2/15/2028

(a)

45,000

48,565

JBS

USA

LUX

SA

/

JBS

USA

Food

Co.

/

JBS

USA

Finance,

Inc.

6.50%,

4/15/2029

(a)

70,000

77,728

5.50%,

1/15/2030

(a)

35,000

38,325

3.75%,

12/01/2031

(a)

35,000

35,823

KeHE

Distributors

LLC

/

KeHE

Finance

Corp.,

8.63%,

10/15/2026

(a)

10,000

10,750

Korn

Ferry,

4.63%,

12/15/2027

(a)

10,000

10,350

Kraft

Heinz

Foods

Co.

3.00%,

6/01/2026

31,000

32,337

3.88%,

5/15/2027

30,000

32,555

4.63%,

1/30/2029

40,000

45,550

3.75%,

4/01/2030

40,000

43,358

4.25%,

3/01/2031

30,000

33,825

6.75%,

3/15/2032

30,000

40,755

5.00%,

7/15/2035

40,000

49,190

7.13%,

8/01/2039

(a)

40,000

60,782

6.50%,

2/09/2040

30,000

42,767

5.00%,

6/04/2042

30,000

37,279

5.20%,

7/15/2045

55,000

69,824

4.38%,

6/01/2046

110,000

128,387

4.88%,

10/01/2049

40,000

49,617

5.50%,

6/01/2050

40,000

53,617

Kronos

Acquisition

Holdings,

Inc.

/

Kik

Custom

Products,

Inc.

5.00%,

12/31/2026

(a)(b)

15,000

14,860

7.00%,

12/31/2027

(a)(b)

15,000

14,434

Lamb

Weston

Holdings,

Inc.

4.63%,

11/01/2024

(a)

45,000

46,094

4.88%,

11/01/2026

(a)

25,000

25,644

4.88%,

5/15/2028

(a)

25,000

26,834

Land

O'Lakes

Capital

Trust

I,

7.45%,

3/15/2028

(a)

30,000

34,610

Lannett

Co.,

Inc.,

7.75%,

4/15/2026

(a)

35,000

32,337

Legacy

LifePoint

Health

LLC

6.75%,

4/15/2025

(a)

35,000

36,750

4.38%,

2/15/2027

(a)

30,000

29,839

LifePoint

Health,

Inc.,

5.38%,

1/15/2029

(a)

35,000

34,321

Magellan

Health,

Inc.,

4.90%,

9/22/2024

61,000

66,806

MEDNAX,

Inc.,

6.25%,

1/15/2027

(a)

32,000

33,590

Metis

Merger

Sub

LLC,

6.50%,

5/15/2029

(a)

30,000

29,708

Modivcare

Escrow

Issuer,

Inc.,

5.00%,

10/01/2029

(a)

30,000

30,512

Modivcare,

Inc.,

5.88%,

11/15/2025

(a)

10,000

10,508

Molina

Healthcare,

Inc.

5.38%,

11/15/2022

25,000

25,748

4.38%,

6/15/2028

(a)

35,000

36,395

MPH

Acquisition

Holdings

LLC,

5.75%,

11/01/2028

(a)(b)

15,000

13,683

106

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Non-cyclical

–

17.3%

(continued)

Nielsen

Co.

Luxembourg

Sarl

(The),

5.00%,

2/01/2025

(a)(b)

18,000

18,341

Nielsen

Finance

LLC

/

Nielsen

Finance

Co.

5.63%,

10/01/2028

(a)

55,000

57,231

4.50%,

7/15/2029

(a)

65,000

63,546

5.88%,

10/01/2030

(a)

20,000

20,985

North

Queensland

Export

Terminal

Pty

Ltd.,

4.45%,

12/15/2022

(a)

21,000

20,244

Organon

&

Co.

/

Organon

Foreign

Debt

Co.-

Issuer

BV

4.13%,

4/30/2028

(a)

80,000

81,083

5.13%,

4/30/2031

(a)

100,000

103,141

Ortho-Clinical

Diagnostics,

Inc.

/

Ortho-Clinical

Diagnostics

SA

7.38%,

6/01/2025

(a)

6,000

6,300

7.25%,

2/01/2028

(a)

13,000

13,848

P&L

Development

LLC

/

PLD

Finance

Corp.,

7.75%,

11/15/2025

(a)

10,000

10,273

PAR

Pharmaceutical,

Inc.,

7.50%,

4/01/2027

(a)

91,000

91,805

Performance

Food

Group,

Inc.,

5.50%,

10/15/2027

(a)

35,000

36,595

Perrigo

Co.

PLC,

4.00%,

11/15/2023

30,000

31,137

Perrigo

Finance

Unlimited

Co.

4.38%,

3/15/2026

80,000

85,499

3.15%,

6/15/2030

40,000

40,301

4.90%,

12/15/2044

70,000

69,301

Pilgrim's

Pride

Corp.,

5.88%,

9/30/2027

(a)

50,000

52,699

Post

Holdings,

Inc.

5.63%,

1/15/2028

(a)

40,000

41,735

5.50%,

12/15/2029

(a)

55,000

58,494

4.50%,

9/15/2031

(a)

75,000

73,613

Prestige

Brands,

Inc.

5.13%,

1/15/2028

(a)

10,000

10,462

3.75%,

4/01/2031

(a)

25,000

24,168

Prime

Healthcare

Services,

Inc.,

7.25%,

11/01/2025

(a)

20,000

21,339

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

5.25%,

4/15/2024

(a)

40,000

42,557

5.75%,

4/15/2026

(a)

40,000

42,779

3.38%,

8/31/2027

(a)

30,000

28,752

6.25%,

1/15/2028

(a)

35,000

35,881

Radiology

Partners,

Inc.,

9.25%,

2/01/2028

(a)

20,000

21,207

RegionalCare

Hospital

Partners

Holdings,

Inc.

/

LifePoint

Health,

Inc.,

9.75%,

12/01/2026

(a)

26,000

27,435

Rent-A-Center,

Inc./Tx,

6.38%,

2/15/2029

(a)

20,000

21,041

Ritchie

Bros

Auctioneers,

Inc.,

5.38%,

1/15/2025

(a)

17,000

17,340

RP

Escrow

Issuer

LLC,

5.25%,

12/15/2025

(a)

35,000

35,023

Sabre

GLBL,

Inc.

9.25%,

4/15/2025

(a)

25,000

28,890

7.38%,

9/01/2025

(a)

75,000

79,855

Safeway,

Inc.,

7.25%,

2/01/2031

50,000

60,199

SEG

Holding

LLC

/

SEG

Finance

Corp.,

5.63%,

10/15/2028

(a)

40,000

42,236

Select

Medical

Corp.,

6.25%,

8/15/2026

(a)

86,000

90,009

Service

Corp.

International

4.63%,

12/15/2027

20,000

21,061

5.13%,

6/01/2029

23,000

24,854

3.38%,

8/15/2030

50,000

49,236

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Consumer,

Non-cyclical

–

17.3%

(continued)

4.00%,

5/15/2031

30,000

30,677

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub,

Inc.,

4.63%,

11/01/2026

(a)

10,000

10,395

Simmons

Foods,

Inc./Simmons

Prepared

Foods,

Inc./Simmons

Pet

Food,

Inc./Simmons

Feed,

4.63%,

3/01/2029

(a)

40,000

40,397

Sotheby's,

7.38%,

10/15/2027

(a)

20,000

21,086

Spectrum

Brands,

Inc.

5.75%,

7/15/2025

35,000

35,890

5.00%,

10/01/2029

(a)

20,000

21,370

5.50%,

7/15/2030

(a)

10,000

10,847

Square,

Inc.

2.75%,

6/01/2026

(a)

50,000

50,589

3.50%,

6/01/2031

(a)(b)

65,000

66,652

Surgery

Center

Holdings,

Inc.

6.75%,

7/01/2025

(a)(b)

10,000

10,207

10.00%,

4/15/2027

(a)

15,000

16,114

Syneos

Health,

Inc.,

3.63%,

1/15/2029

(a)

15,000

14,807

Team

Health

Holdings,

Inc.,

6.38%,

2/01/2025

(a)

20,000

17,848

Teleflex,

Inc.

4.63%,

11/15/2027

20,000

20,863

4.25%,

6/01/2028

(a)

15,000

15,418

Tenet

Healthcare

Corp.

6.75%,

6/15/2023

51,000

54,802

4.63%,

7/15/2024

8,000

8,106

4.63%,

9/01/2024

(a)

15,000

15,347

7.50%,

4/01/2025

(a)

20,000

21,222

4.88%,

1/01/2026

(a)

60,000

61,695

6.25%,

2/01/2027

(a)

40,000

41,544

5.13%,

11/01/2027

(a)

27,000

28,230

4.63%,

6/15/2028

(a)

15,000

15,612

6.13%,

10/01/2028

(a)

65,000

68,263

TreeHouse

Foods,

Inc.,

4.00%,

9/01/2028

(b)

15,000

14,336

Trinet

Group,

Inc.,

3.50%,

3/01/2029

(a)

30,000

30,057

Triton

Water

Holdings,

Inc.,

6.25%,

4/01/2029

(a)

40,000

39,973

United

Rentals

North

America,

Inc.

5.50%,

5/15/2027

19,000

19,911

4.88%,

1/15/2028

50,000

52,800

5.25%,

1/15/2030

20,000

21,661

4.00%,

7/15/2030

20,000

20,412

3.88%,

2/15/2031

25,000

25,173

3.75%,

1/15/2032

20,000

19,960

US

Foods,

Inc.

6.25%,

4/15/2025

(a)

35,000

36,735

4.75%,

2/15/2029

(a)

40,000

40,487

US

Renal

Care,

Inc.,

10.63%,

7/15/2027

(a)

15,000

15,596

Vector

Group

Ltd.

10.50%,

11/01/2026

(a)

40,000

42,241

5.75%,

2/01/2029

(a)

65,000

64,842

Verscend

Escrow

Corp.,

9.75%,

8/15/2026

(a)

60,000

63,572

8,253,883

Diversified

–

0.0%

Stena

International

SA,

6.13%,

2/01/2025

(a)

23,000

23,684

23,684

Energy

–

12.9%

Aethon

United

Br

LP

/

Aethon

United

Finance

Corp.,

8.25%,

2/15/2026

(a)

25,000

26,847

AI

Candelaria

Spain

SLU,

7.50%,

12/15/2028

(a)

11,000

11,895

107

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp.,

7.50%,

5/01/2025

(a)

60,000

61,332

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp.

7.88%,

5/15/2026

(a)

20,000

21,909

5.75%,

3/01/2027

(a)

20,000

20,720

5.75%,

1/15/2028

(a)

20,000

20,929

Antero

Resources

Corp.

5.00%,

3/01/2025

(b)

20,000

20,359

8.38%,

7/15/2026

(a)

12,000

13,505

7.63%,

2/01/2029

(a)

10,000

11,078

5.38%,

3/01/2030

(a)

10,000

10,592

Apache

Corp.

4.63%,

11/15/2025

10,000

10,770

4.88%,

11/15/2027

15,000

16,318

4.25%,

1/15/2030

55,000

58,559

6.00%,

1/15/2037

20,000

24,401

5.10%,

9/01/2040

35,000

39,212

5.25%,

2/01/2042

25,000

28,140

7.38%,

8/15/2047

25,000

31,583

5.35%,

7/01/2049

30,000

34,464

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp.

6.88%,

4/01/2027

(a)

10,000

10,418

6.25%,

4/01/2028

(a)

30,000

31,168

Ascent

Resources

Utica

Holdings

LLC

/

Aru

Finance

Corp.,

8.25%,

12/31/2028

(a)

20,000

21,791

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.,

7.00%,

11/01/2026

(a)

20,000

20,649

Baytex

Energy

Corp.

5.63%,

6/01/2024

(a)

3,000

3,023

8.75%,

4/01/2027

(a)

15,000

16,018

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp.

7.63%,

12/15/2025

(a)

15,000

16,124

6.63%,

7/15/2026

(a)

10,000

10,355

Buckeye

Partners

LP

4.15%,

7/01/2023

30,000

31,044

4.35%,

10/15/2024

5,000

5,237

4.13%,

3/01/2025

(a)

30,000

30,821

3.95%,

12/01/2026

16,000

16,406

4.50%,

3/01/2028

(a)

15,000

14,920

5.85%,

11/15/2043

16,000

15,773

5.60%,

10/15/2044

15,000

14,544

6.38%,

1/22/2078

30,000

27,321

California

Resources

Corp.,

7.13%,

2/01/2026

(a)

(b)

15,000

15,826

Callon

Petroleum

Co.

6.13%,

10/01/2024

30,000

29,496

8.25%,

7/15/2025

20,000

19,804

8.00%,

8/01/2028

(a)

20,000

20,151

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

7.75%,

4/15/2023

(b)

15,000

14,845

9.25%,

7/15/2024

(a)

50,000

54,162

Centennial

Resource

Production

LLC,

6.88%,

4/01/2027

(a)(b)

10,000

10,214

Cheniere

Energy

Partners

LP,

4.50%,

10/01/2029

45,000

48,047

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

Cheniere

Energy,

Inc.,

4.63%,

10/15/2028

55,000

57,747

Civitas

Resources,

Inc.,

5.00%,

10/15/2026

(a)

60,000

60,750

Comstock

Resources,

Inc.

7.50%,

5/15/2025

(a)

6,000

6,219

5.88%,

1/15/2030

(a)

50,000

52,007

Consol

Energy,

Inc.,

11.00%,

11/15/2025

(a)

10,000

10,327

Continental

Resources,

Inc.

4.50%,

4/15/2023

18,000

18,725

3.80%,

6/01/2024

25,000

26,261

4.38%,

1/15/2028

20,000

21,826

5.75%,

1/15/2031

(a)

45,000

53,907

4.90%,

6/01/2044

25,000

28,415

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp.

5.75%,

4/01/2025

15,000

15,381

5.63%,

5/01/2027

(a)

20,000

20,531

6.00%,

2/01/2029

(a)

35,000

36,298

CrownRock

LP

/

CrownRock

Finance,

Inc.,

5.63%,

10/15/2025

(a)

35,000

35,815

CVR

Energy,

Inc.

5.25%,

2/15/2025

(a)(b)

10,000

9,885

5.75%,

2/15/2028

(a)(b)

5,000

4,941

DCP

Midstream

Operating

LP

5.38%,

7/15/2025

20,000

22,166

5.63%,

7/15/2027

10,000

11,415

5.13%,

5/15/2029

20,000

22,695

6.45%,

11/03/2036

(a)

15,000

19,379

6.75%,

9/15/2037

(a)

15,000

20,045

5.85%,

5/21/2043

(a)

15,000

14,257

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp.

6.75%,

5/15/2025

18,000

18,407

7.13%,

6/01/2028

(a)

13,000

13,651

DT

Midstream,

Inc.

4.13%,

6/15/2029

(a)

50,000

50,391

4.38%,

6/15/2031

(a)

50,000

50,745

Encino

Acquisition

Partners

Holdings

LLC,

8.50%,

5/01/2028

(a)

20,000

20,906

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

6.63%,

7/15/2025

(a)

5,000

5,273

5.75%,

1/30/2028

(a)

30,000

31,489

EnLink

Midstream

LLC,

5.38%,

6/01/2029

5,000

5,178

EnLink

Midstream

Partners

LP

4.40%,

4/01/2024

10,000

10,450

4.15%,

6/01/2025

15,000

15,572

4.85%,

7/15/2026

5,000

5,190

5.45%,

6/01/2047

20,000

20,017

Ensign

Drilling,

Inc.,

9.25%,

4/15/2024

(a)(b)

35,000

34,630

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp.,

6.50%,

1/15/2026

(a)

15,000

15,512

EQM

Midstream

Partners

LP

4.75%,

7/15/2023

16,000

16,845

4.00%,

8/01/2024

30,000

31,146

6.00%,

7/01/2025

(a)

20,000

21,784

4.13%,

12/01/2026

10,000

10,311

6.50%,

7/01/2027

(a)

25,000

27,819

5.50%,

7/15/2028

15,000

16,531

4.50%,

1/15/2029

(a)

50,000

51,432

108

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

EQT

Corp.

3.00%,

10/01/2022

(b)

8,000

8,087

6.63%,

2/01/2025

30,000

33,757

3.90%,

10/01/2027

45,000

47,973

7.50%,

2/01/2030

25,000

32,014

Exterran

Energy

Solutions

LP

/

Ees

Finance

Corp.,

8.13%,

5/01/2025

5,000

4,844

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp.

5.63%,

6/15/2024

8,000

7,961

6.50%,

10/01/2025

13,000

12,808

6.25%,

5/15/2026

60,000

58,099

8.00%,

1/15/2027

20,000

20,101

7.75%,

2/01/2028

24,000

23,746

Global

Marine,

Inc.,

7.00%,

6/01/2028

30,000

22,101

Global

Partners

LP

/

GLP

Finance

Corp.,

7.00%,

8/01/2027

10,000

10,417

Gulfport

Energy

Operating

Corp.,

8.00%,

5/17/2026

35,000

38,745

Harvest

Midstream

I

LP,

7.50%,

9/01/2028

(a)

20,000

20,982

Hess

Midstream

Operations

LP

5.63%,

2/15/2026

(a)

50,000

51,772

5.13%,

6/15/2028

(a)

20,000

20,777

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

6.25%,

11/01/2028

(a)

35,000

35,909

5.75%,

2/01/2029

(a)

15,000

15,284

6.00%,

2/01/2031

(a)

20,000

20,539

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp.,

5.00%,

2/01/2028

(a)

30,000

30,079

Independence

Energy

Finance

LLC,

7.25%,

5/01/2026

(a)

30,000

31,230

ITT

Holdings

LLC,

6.50%,

8/01/2029

(a)

55,000

55,138

KCA

Deutag

UK

Finance

PLC,

9.88%,

12/01/2025

(a)

50,000

54,456

Laredo

Petroleum,

Inc.

9.50%,

1/15/2025

15,000

15,426

10.13%,

1/15/2028

25,000

26,756

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp.,

6.00%,

8/01/2026

(a)

10,000

10,254

Matador

Resources

Co.,

5.88%,

9/15/2026

30,000

30,959

Meg

Energy

Corp.,

5.88%,

2/01/2029

(a)

20,000

20,582

MEG

Energy

Corp.

6.50%,

1/15/2025

(a)

8,000

8,192

7.13%,

2/01/2027

(a)

47,000

49,383

Moss

Creek

Resources

Holdings,

Inc.

7.50%,

1/15/2026

(a)

40,000

36,365

10.50%,

5/15/2027

(a)

10,000

9,922

Murphy

Oil

Corp.

6.88%,

8/15/2024

8,000

8,161

5.75%,

8/15/2025

12,000

12,316

5.88%,

12/01/2027

(b)

15,000

15,629

6.38%,

7/15/2028

15,000

15,848

6.38%,

12/01/2042

5,000

5,080

Nabors

Industries

Ltd.,

7.25%,

1/15/2026

(a)

15,000

14,629

Nabors

Industries,

Inc.

5.75%,

2/01/2025

15,000

14,259

9.00%,

2/01/2025

(a)

5,000

5,181

Natural

Resource

Partners

LP

/

NRP

Finance

Corp.,

9.13%,

6/30/2025

(a)

42,000

42,213

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

Neptune

Energy

Bondco

PLC,

6.63%,

5/15/2025

(a)

20,000

20,429

New

Fortress

Energy,

Inc.

6.75%,

9/15/2025

(a)

40,000

38,977

6.50%,

9/30/2026

(a)

50,000

48,621

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp.,

7.50%,

2/01/2026

(a)

55,000

55,838

NGL

Energy

Partners

LP

/

NGL

Energy

Finance

Corp.

7.50%,

11/01/2023

15,000

14,471

6.13%,

3/01/2025

(b)

10,000

8,612

7.50%,

4/15/2026

(b)

15,000

12,837

Northriver

Midstream

Finance

LP,

5.63%,

2/15/2026

(a)

15,000

15,522

NuStar

Logistics

LP

4.75%,

2/01/2022

7,000

7,000

5.75%,

10/01/2025

15,000

16,061

6.00%,

6/01/2026

30,000

31,997

5.63%,

4/28/2027

30,000

31,570

6.38%,

10/01/2030

20,000

21,923

Oasis

Midstream

Partners

LP

/

Omp

Finance

Corp.,

8.00%,

4/01/2029

(a)

30,000

32,629

Oasis

Petroleum,

Inc.,

6.38%,

6/01/2026

(a)

5,000

5,286

Occidental

Petroleum

Corp.

6.95%,

7/01/2024

30,000

33,772

3.50%,

6/15/2025

35,000

36,152

8.00%,

7/15/2025

15,000

17,744

5.55%,

3/15/2026

20,000

22,079

3.40%,

4/15/2026

35,000

35,673

3.20%,

8/15/2026

45,000

45,742

3.00%,

2/15/2027

20,000

20,000

8.50%,

7/15/2027

15,000

18,753

7.15%,

5/15/2028

5,000

5,906

6.38%,

9/01/2028

15,000

17,536

3.50%,

8/15/2029

60,000

60,890

8.88%,

7/15/2030

35,000

47,466

6.63%,

9/01/2030

(b)

50,000

61,269

6.13%,

1/01/2031

(b)

30,000

35,890

7.50%,

5/01/2031

25,000

32,578

7.88%,

9/15/2031

20,000

26,705

6.45%,

9/15/2036

50,000

63,719

7.95%,

6/15/2039

13,000

17,570

4.30%,

8/15/2039

10,000

10,033

6.20%,

3/15/2040

20,000

24,199

4.50%,

7/15/2044

15,000

15,144

6.60%,

3/15/2046

35,000

44,853

4.40%,

4/15/2046

35,000

35,424

4.20%,

3/15/2048

15,000

14,617

4.40%,

8/15/2049

20,000

19,992

Oceaneering

International,

Inc.

4.65%,

11/15/2024

5,000

5,197

6.00%,

2/01/2028

5,000

5,142

Ovintiv

Exploration,

Inc.

5.63%,

7/01/2024

70,000

77,030

5.38%,

1/01/2026

38,000

42,269

Ovintiv,

Inc.

8.13%,

9/15/2030

10,000

13,724

7.20%,

11/01/2031

15,000

20,082

7.38%,

11/01/2031

20,000

27,099

6.50%,

8/15/2034

20,000

26,873

109

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

6.63%,

8/15/2037

10,000

13,576

6.50%,

2/01/2038

10,000

13,535

5.15%,

11/15/2041

5,000

5,793

PAR

Petroleum

LLC

/

PAR

Petroleum

Finance

Corp.,

7.75%,

12/15/2025

(a)

10,000

10,065

Parkland

Corp.,

5.88%,

7/15/2027

(a)

20,000

21,121

Patterson-UTI

Energy,

Inc.

3.95%,

2/01/2028

(b)

15,000

15,078

5.15%,

11/15/2029

26,000

26,815

PBF

Holding

Co.

LLC

/

PBF

Finance

Corp.

9.25%,

5/15/2025

(a)

35,000

33,961

7.25%,

6/15/2025

30,000

23,496

6.00%,

2/15/2028

40,000

29,070

PBF

Logistics

LP

/

PBF

Logistics

Finance

Corp.,

6.88%,

5/15/2023

(b)

50,000

48,681

PDC

Energy,

Inc.

6.13%,

9/15/2024

30,000

30,460

5.75%,

5/15/2026

(b)

21,000

21,598

PIC

AU

Holdings

LLC

/

PIC

AU

Holdings

Corp.,

10.00%,

12/31/2024

(a)

20,000

20,468

Precision

Drilling

Corp.,

7.13%,

1/15/2026

(a)(b)

25,000

25,718

Range

Resources

Corp.

5.00%,

3/15/2023

7,000

7,195

4.88%,

5/15/2025

15,000

15,677

9.25%,

2/01/2026

30,000

32,484

8.25%,

1/15/2029

(a)

15,000

16,884

Rattler

Midstream

LP,

5.63%,

7/15/2025

(a)

15,000

15,687

Renewable

Energy

Group,

Inc.,

5.88%,

6/01/2028

(a)

30,000

31,547

Rockcliff

Energy

II

LLC,

5.50%,

10/15/2029

(a)

13,000

13,380

Rockies

Express

Pipeline

LLC

3.60%,

5/15/2025

(a)

40,000

41,658

4.95%,

7/15/2029

(a)

30,000

32,099

4.80%,

5/15/2030

(a)

35,000

37,267

7.50%,

7/15/2038

(a)

5,000

5,712

6.88%,

4/15/2040

(a)

30,000

34,016

Ruby

Pipeline

LLC,

8.00%,

4/01/2022

(a)(b)

2,303

2,172

SM

Energy

Co.

10.00%,

1/15/2025

(a)

10,000

11,125

5.63%,

6/01/2025

10,000

10,030

6.75%,

9/15/2026

(b)

5,000

5,138

6.63%,

1/15/2027

(b)

10,000

10,331

Southeast

Supply

Header

LLC,

4.25%,

6/15/2024

(a)

50,000

52,019

Southwestern

Energy

Co.

6.45%,

1/23/2025

6,000

6,538

5.38%,

2/01/2029

(a)

20,000

21,057

Sunoco

LP

/

Sunoco

Finance

Corp.

6.00%,

4/15/2027

15,000

15,716

5.88%,

3/15/2028

16,000

16,919

4.50%,

5/15/2029

25,000

25,352

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

7.50%,

10/01/2025

(a)

20,000

21,628

6.00%,

3/01/2027

(a)

20,000

20,804

5.50%,

1/15/2028

(a)

20,000

20,068

6.00%,

12/31/2030

(a)

20,000

20,011

6.00%,

9/01/2031

(a)

35,000

34,663

Talos

Production,

Inc.,

12.00%,

1/15/2026

20,000

21,728

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Energy

–

12.9%

(continued)

Tap

Rock

Resources

LLC,

7.00%,

10/01/2026

(a)

15,000

15,444

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

5.88%,

4/15/2026

10,000

10,461

5.38%,

2/01/2027

20,000

20,701

6.50%,

7/15/2027

20,000

21,500

5.00%,

1/15/2028

35,000

36,813

6.88%,

1/15/2029

34,000

38,080

5.50%,

3/01/2030

25,000

27,488

4.88%,

2/01/2031

30,000

32,349

4.00%,

1/15/2032

(a)

30,000

30,945

TechnipFMC

PLC,

6.50%,

2/01/2026

(a)

30,000

32,035

TerraForm

Power

Operating

LLC

4.25%,

1/31/2023

(a)

10,000

10,247

5.00%,

1/31/2028

(a)

30,000

32,057

4.75%,

1/15/2030

(a)

37,000

38,368

TransMontaigne

Partners

LP

/

TLP

Finance

Corp.,

6.13%,

2/15/2026

16,000

16,301

Transocean

Guardian

Ltd.,

5.88%,

1/15/2024

(a)

23,115

22,741

Transocean

Pontus

Ltd.,

6.13%,

8/01/2025

(a)

10,050

10,067

Transocean

Poseidon

Ltd.,

6.88%,

2/01/2027

(a)

35,000

34,997

Transocean

Proteus

Ltd.,

6.25%,

12/01/2024

(a)

16,500

16,664

Transocean

Sentry

Ltd.,

5.38%,

5/15/2023

(a)

18,379

18,055

Transocean,

Inc.

7.50%,

1/15/2026

(a)

30,000

24,183

11.50%,

1/30/2027

(a)

39,000

40,209

8.00%,

2/01/2027

(a)

30,000

22,937

7.50%,

4/15/2031

30,000

19,469

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp.

6.88%,

4/01/2026

37,000

38,227

6.88%,

9/01/2027

5,000

5,185

Vantage

Drilling

International,

9.25%,

11/15/2023

(a)

5,000

4,573

Vermilion

Energy,

Inc.,

5.63%,

3/15/2025

(a)

30,000

30,189

Viper

Energy

Partners

LP,

5.38%,

11/01/2027

(a)

15,000

15,635

W&T

Offshore,

Inc.,

9.75%,

11/01/2023

(a)

35,000

34,069

Weatherford

International

Ltd.,

11.00%,

12/01/2024

(a)

8,000

8,340

Western

Midstream

Operating

LP

4.00%,

7/01/2022

20,000

20,209

4.65%,

7/01/2026

12,000

12,999

4.50%,

3/01/2028

15,000

16,242

4.75%,

8/15/2028

15,000

16,501

5.30%,

2/01/2030

40,000

43,841

5.45%,

4/01/2044

30,000

35,232

5.30%,

3/01/2048

20,000

23,395

5.50%,

8/15/2048

10,000

11,823

6.50%,

2/01/2050

10,000

11,970

6,182,791

Financial

–

10.6%

Acrisure

LLC

/

Acrisure

Finance,

Inc.

10.13%,

8/01/2026

(a)

20,000

22,255

4.25%,

2/15/2029

(a)

40,000

38,657

Advisor

Group

Holdings,

Inc.,

10.75%,

8/01/2027

(a)

25,000

27,772

Aercap

Holdings

NV,

5.88%,

10/10/2079

(b)

50,000

52,122

AG

Issuer

LLC,

6.25%,

3/01/2028

(a)

10,000

10,428

110

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Financial

–

10.6%

(continued)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co.-Issuer

4.25%,

10/15/2027

(a)

25,000

24,996

6.75%,

10/15/2027

(a)

45,000

46,554

Ally

Financial,

Inc.,

5.75%,

11/20/2025

47,000

53,316

Armor

Holdco,

Inc.,

8.50%,

11/15/2029

(a)

30,000

30,000

ASG

Finance

Designated

Activity

Co.,

7.88%,

12/03/2024

(a)

15,000

14,703

Assurant,

Inc.,

7.00%,

3/27/2048

35,000

40,820

Assuredpartners,

Inc.

7.00%,

8/15/2025

(a)

35,000

35,475

5.63%,

1/15/2029

(a)

15,000

14,933

Brightsphere

Investment

Group,

Inc.,

4.80%,

7/27/2026

35,000

37,002

Brookfield

Property

REIT,

Inc.

/

Bpr

Cumulus

LLC

/

Bpr

Nimbus

LLC

/

Ggsi

Sellco

Ll,

4.50%,

4/01/2027

(a)

265,000

258,587

CIT

Group,

Inc.

5.00%,

8/01/2023

11,000

11,681

4.75%,

2/16/2024

13,000

13,846

3.93%,

6/19/2024

20,000

20,812

5.25%,

3/07/2025

15,000

16,509

6.13%,

3/09/2028

15,000

17,844

CNG

Holdings,

Inc.,

12.50%,

6/15/2024

(a)

10,000

9,532

Coinbase

Global,

Inc.,

3.38%,

10/01/2028

(a)

125,000

120,469

Commerzbank

AG,

8.13%,

9/19/2023

(a)

25,000

27,977

Credit

Acceptance

Corp.

5.13%,

12/31/2024

(a)

23,000

23,557

6.63%,

3/15/2026

(b)

12,000

12,518

Cushman

&

Wakefield

US

Borrower

LLC,

6.75%,

5/15/2028

(a)

20,000

21,447

Deutsche

Bank

AG

4.50%,

4/01/2025

50,000

53,603

4.30%,

5/24/2028

80,000

82,918

4.88%,

12/01/2032

30,000

32,614

Enova

International,

Inc.

8.50%,

9/01/2024

(a)

8,000

8,139

8.50%,

9/15/2025

(a)

12,000

12,356

Finance

of

America

Funding

LLC,

7.88%,

11/15/2025

(a)

25,000

24,156

Five

Point

Operating

Co.

LP

/

Five

Point

Capital

Corp.,

7.88%,

11/15/2025

(a)

12,000

12,504

Freedom

Mortgage

Corp.

8.13%,

11/15/2024

(a)

30,000

30,305

8.25%,

4/15/2025

(a)

42,000

42,526

7.63%,

5/01/2026

(a)

20,000

19,594

FS

Energy

&

Power

Fund,

7.50%,

8/15/2023

(a)

12,000

12,505

Genworth

Holdings,

Inc.

4.90%,

8/15/2023

13,000

13,326

4.80%,

2/15/2024

(b)

10,000

10,223

6.50%,

6/15/2034

80,000

83,194

GEO

Group,

Inc.

(The)

5.13%,

4/01/2023

5,000

4,819

5.88%,

10/15/2024

(b)

70,000

63,252

6.00%,

4/15/2026

(b)

10,000

8,691

Global

Aircraft

Leasing

Co.

Ltd.,

6.50%,

9/15/2024

(a)(c)

64,835

62,922

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Financial

–

10.6%

(continued)

Global

NET

Lease,

Inc.

/

Global

NET

Lease

Operating

Partnership

LP,

3.75%,

12/15/2027

(a)

10,000

9,858

GoEasy

Ltd.,

5.38%,

12/01/2024

(a)

30,000

30,850

Greystar

Real

Estate

Partners

LLC,

5.75%,

12/01/2025

(a)

20,000

20,347

GTCR

AP

Finance,

Inc.,

8.00%,

5/15/2027

(a)

30,000

31,557

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

6.00%,

4/15/2025

(a)

15,000

15,624

3.38%,

6/15/2026

(a)

15,000

14,957

Home

Point

Capital,

Inc.,

5.00%,

2/01/2026

(a)

15,000

13,481

Howard

Hughes

Corp.

(The)

5.38%,

8/01/2028

(a)

26,000

27,330

4.13%,

2/01/2029

(a)

25,000

25,044

4.38%,

2/01/2031

(a)

35,000

34,999

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp.

4.75%,

9/15/2024

85,000

88,105

6.38%,

12/15/2025

25,000

25,517

5.25%,

5/15/2027

35,000

36,380

Intesa

Sanpaolo

SpA

5.02%,

6/26/2024

(a)

51,000

54,967

5.71%,

1/15/2026

(a)

35,000

38,864

4.95%,

6/01/2042

(a)

20,000

20,520

Iron

Mountain,

Inc.

4.88%,

9/15/2027

(a)

21,000

21,655

5.25%,

3/15/2028

(a)

20,000

20,854

5.00%,

7/15/2028

(a)

30,000

30,990

4.88%,

9/15/2029

(a)

21,000

21,711

5.25%,

7/15/2030

(a)

35,000

36,585

4.50%,

2/15/2031

(a)

30,000

30,253

5.63%,

7/15/2032

(a)

15,000

16,033

iStar,

Inc.

4.25%,

8/01/2025

12,000

12,345

5.50%,

2/15/2026

10,000

10,412

Jefferies

Finance

LLC

/

JFIN

Co.-Issuer

Corp.,

5.00%,

8/15/2028

(a)

55,000

55,786

Kennedy-Wilson,

Inc.,

5.00%,

3/01/2031

40,000

40,951

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

5.25%,

10/01/2025

(a)

30,000

30,385

4.25%,

2/01/2027

(a)

30,000

30,137

LD

Holdings

Group

LLC

6.50%,

11/01/2025

(a)

10,000

9,803

6.13%,

4/01/2028

(a)

60,000

54,981

LPL

Holdings,

Inc.,

4.63%,

11/15/2027

(a)

61,000

62,864

MGIC

Investment

Corp.,

5.25%,

8/15/2028

45,000

47,886

MGM

Growth

Properties

Operating

Partnership

LP

/

MGP

Finance

Co.-Issuer,

Inc.

5.63%,

5/01/2024

24,000

26,046

4.63%,

6/15/2025

(a)

20,000

21,527

4.50%,

9/01/2026

20,000

21,701

5.75%,

2/01/2027

20,000

22,834

4.50%,

1/15/2028

20,000

21,850

3.88%,

2/15/2029

(a)

20,000

21,182

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

5.25%,

8/01/2026

18,000

18,561

5.00%,

10/15/2027

26,000

27,363

3.50%,

3/15/2031

30,000

30,256

111

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Financial

–

10.6%

(continued)

Nationstar

Mortgage

Holdings,

Inc.

6.00%,

1/15/2027

(a)

10,000

10,467

5.13%,

12/15/2030

(a)

20,000

20,153

Navient

Corp.

5.50%,

1/25/2023

4,000

4,178

7.25%,

9/25/2023

15,000

16,320

6.13%,

3/25/2024

8,000

8,560

5.88%,

10/25/2024

18,000

19,238

6.75%,

6/25/2025

10,000

11,000

5.00%,

3/15/2027

20,000

20,388

5.63%,

8/01/2033

8,000

7,601

New

Residential

Investment

Corp.,

6.25%,

10/15/2025

(a)

15,000

15,037

NFP

Corp.,

6.88%,

8/15/2028

(a)

50,000

50,843

NMI

Holdings,

Inc.,

7.38%,

6/01/2025

(a)

45,000

51,732

OneMain

Finance

Corp.

5.63%,

3/15/2023

30,000

31,547

8.25%,

10/01/2023

6,000

6,693

6.13%,

3/15/2024

30,000

31,908

6.88%,

3/15/2025

31,000

34,660

8.88%,

6/01/2025

30,000

32,447

7.13%,

3/15/2026

35,000

39,749

6.63%,

1/15/2028

10,000

11,281

5.38%,

11/15/2029

17,000

18,180

4.00%,

9/15/2030

25,000

24,285

Oxford

Finance

LLC

/

Oxford

Finance

Co.-Issuer

II,

Inc.,

6.38%,

12/15/2022

(a)

10,000

10,047

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer

7.50%,

6/01/2025

(a)

15,000

15,934

5.88%,

10/01/2028

(a)

20,000

20,998

4.88%,

5/15/2029

(a)

40,000

40,607

Pennymac

Financial

Services,

Inc.

5.38%,

10/15/2025

(a)

16,000

16,504

5.75%,

9/15/2031

(a)

30,000

29,523

PHH

Mortgage

Corp.,

7.88%,

3/15/2026

(a)(b)

25,000

25,366

Provident

Financing

Trust

I,

7.41%,

3/15/2038

(b)

20,000

24,622

Provident

Funding

Associates

LP

/

PFG

Finance

Corp.,

6.38%,

6/15/2025

(a)

15,000

15,086

Radian

Group,

Inc.

4.50%,

10/01/2024

10,000

10,605

6.63%,

3/15/2025

85,000

94,927

4.88%,

3/15/2027

25,000

27,279

Realogy

Group

LLC

/

Realogy

Co.-Issuer

Corp.

4.88%,

6/01/2023

(a)

25,000

25,817

7.63%,

6/15/2025

(a)

10,000

10,685

9.38%,

4/01/2027

(a)

20,000

21,876

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.,

4.75%,

10/15/2027

20,000

20,504

RLJ

Lodging

Trust

LP,

4.00%,

9/15/2029

(a)

10,000

9,975

Rocket

Mortgage,

5.25%,

1/15/2028

(a)

45,000

48,243

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co.-

Issuer,

Inc.,

3.88%,

3/01/2031

(a)

35,000

34,566

SBA

Communications

Corp.

4.88%,

9/01/2024

20,000

20,250

3.88%,

2/15/2027

40,000

41,233

3.13%,

2/01/2029

(a)

50,000

48,010

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Financial

–

10.6%

(continued)

Service

Properties

Trust

4.65%,

3/15/2024

5,000

5,047

4.35%,

10/01/2024

20,000

20,155

5.25%,

2/15/2026

20,000

20,209

4.95%,

2/15/2027

27,000

26,598

3.95%,

1/15/2028

30,000

28,023

4.95%,

10/01/2029

20,000

19,300

4.38%,

2/15/2030

35,000

32,937

SLM

Corp.,

4.20%,

10/29/2025

15,000

15,862

Starwood

Property

Trust,

Inc.,

4.75%,

3/15/2025

18,000

18,916

Stonex

Group,

Inc.,

8.63%,

6/15/2025

(a)

40,000

42,555

Synovus

Financial

Corp.,

5.90%,

2/07/2029

20,000

21,508

Texas

Capital

Bank

NA,

5.25%,

1/31/2026

30,000

32,545

UniCredit

SpA

5.86%,

6/19/2032

(a)

25,000

27,580

7.30%,

4/02/2034

(a)

50,000

60,104

5.46%,

6/30/2035

(a)

50,000

54,732

United

Wholesale

Mortgage

LLC,

5.50%,

11/15/2025

(a)

20,000

19,916

Uniti

Group

LP

/

Uniti

Fiber

Holdings,

Inc.

/

CSL

Capital

LLC

7.13%,

12/15/2024

(a)

15,000

15,380

7.88%,

2/15/2025

(a)

60,000

63,166

6.00%,

1/15/2030

(a)

280,000

276,425

Uniti

Group

LP

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC,

6.50%,

2/15/2029

(a)

60,000

60,702

USI,

Inc.,

6.88%,

5/01/2025

(a)

30,000

30,421

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

3.50%,

2/15/2025

(a)

35,000

35,662

4.25%,

12/01/2026

(a)

55,000

56,999

3.75%,

2/15/2027

(a)

35,000

35,967

4.63%,

12/01/2029

(a)

65,000

69,414

4.13%,

8/15/2030

(a)

30,000

31,491

WeWork

Cos.,

Inc.,

7.88%,

5/01/2025

(a)

15,000

15,205

XHR

LP,

6.38%,

8/15/2025

(a)

20,000

21,099

5,051,652

Industrial

–

9.0%

Advanced

Drainage

Systems,

Inc.,

5.00%,

9/30/2027

(a)

10,000

10,411

AECOM,

5.13%,

3/15/2027

23,000

25,375

Amsted

Industries,

Inc.

5.63%,

7/01/2027

(a)

25,000

26,056

4.63%,

5/15/2030

(a)

15,000

15,409

Apex

Tool

Group

LLC

/

BC

Mountain

Finance,

Inc.,

9.00%,

2/15/2023

(a)(b)

5,000

5,009

ARD

Finance

SA,

6.50%,

6/30/2027

(a)(c)

20,000

20,948

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC,

4.00%,

9/01/2029

(a)

50,000

49,782

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA,

Inc.

5.25%,

4/30/2025

(a)

30,000

31,127

4.13%,

8/15/2026

(a)

60,000

61,215

5.25%,

8/15/2027

(a)

30,000

30,004

5.25%,

8/15/2027

(a)

50,000

49,882

Artera

Services

LLC,

9.03%,

12/04/2025

(a)

25,000

26,910

Ball

Corp.

4.00%,

11/15/2023

30,000

31,550

5.25%,

7/01/2025

25,000

27,877

112

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Industrial

–

9.0%

(continued)

4.88%,

3/15/2026

23,000

25,228

2.88%,

8/15/2030

50,000

48,040

Berry

Global,

Inc.

4.50%,

2/15/2026

(a)

15,000

15,238

5.63%,

7/15/2027

(a)

25,000

26,169

Boise

Cascade

Co.,

4.88%,

7/01/2030

(a)

15,000

15,786

Bombardier,

Inc.

7.50%,

12/01/2024

(a)

22,000

22,901

7.50%,

3/15/2025

(a)

35,000

35,908

7.13%,

6/15/2026

(a)

30,000

31,491

7.88%,

4/15/2027

(a)(b)

74,000

76,958

Brand

Industrial

Services,

Inc.,

8.50%,

7/15/2025

(a)

30,000

30,002

Brightstar

Escrow

Corp.,

9.75%,

10/15/2025

(a)

25,000

26,809

Builders

FirstSource,

Inc.

6.75%,

6/01/2027

(a)

30,000

31,711

5.00%,

3/01/2030

(a)

15,000

15,912

BWX

Technologies,

Inc.,

4.13%,

6/30/2028

(a)

10,000

10,151

Canpack

SA

/

Canpack

US

LLC,

3.88%,

11/15/2029

(a)

190,000

189,093

Cargo

Aircraft

Management,

Inc.,

4.75%,

2/01/2028

(a)

15,000

15,326

Cascades,

Inc./Cascades

USA,

Inc.,

5.38%,

1/15/2028

(a)

15,000

15,690

Clean

Harbors,

Inc.

4.88%,

7/15/2027

(a)

21,000

21,941

5.13%,

7/15/2029

(a)

8,000

8,703

Cleaver-Brooks,

Inc.,

7.88%,

3/01/2023

(a)(b)

15,000

14,805

Colfax

Corp.,

6.38%,

2/15/2026

(a)

8,000

8,340

Covanta

Holding

Corp.

6.00%,

1/01/2027

10,000

10,343

5.00%,

9/01/2030

30,000

29,851

CP

Atlas

Buyer,

Inc.,

7.00%,

12/01/2028

(a)

15,000

14,511

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

V,

4.25%,

9/30/2026

10,000

10,663

Crown

Cork

&

Seal

Co.,

Inc.,

7.38%,

12/15/2026

10,000

12,293

Energizer

Holdings,

Inc.

4.75%,

6/15/2028

(a)

15,000

14,952

4.38%,

3/31/2029

(a)

20,000

19,163

EnerSys

5.00%,

4/30/2023

(a)

23,000

23,816

4.38%,

12/15/2027

(a)

8,000

8,400

EnPro

Industries,

Inc.,

5.75%,

10/15/2026

60,000

62,811

Flex

Acquisition

Co.,

Inc.,

7.88%,

7/15/2026

(a)

20,000

20,912

Fluor

Corp.

3.50%,

12/15/2024

(b)

10,000

10,450

4.25%,

9/15/2028

(b)

35,000

36,439

Fly

Leasing

Ltd.,

7.00%,

10/15/2024

(a)

10,000

9,882

Forterra

Finance

LLC

/

Frta

Finance

Corp.,

6.50%,

7/15/2025

(a)

15,000

15,982

Fortress

Transportation

&

Infrastructure

Investors

LLC

6.50%,

10/01/2025

(a)

35,000

36,027

9.75%,

8/01/2027

(a)

25,000

28,151

5.50%,

5/01/2028

(a)

30,000

30,086

FXI

Holdings,

Inc.

7.88%,

11/01/2024

(a)

20,000

20,373

12.25%,

11/15/2026

(a)

40,000

44,514

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Industrial

–

9.0%

(continued)

Gates

Global

LLC

/

Gates

Corp.,

6.25%,

1/15/2026

(a)

29,000

29,992

GFL

Environmental,

Inc.

4.25%,

6/01/2025

(a)

30,000

30,935

3.75%,

8/01/2025

(a)

20,000

20,564

5.13%,

12/15/2026

(a)

20,000

20,943

4.00%,

8/01/2028

(a)

15,000

14,650

3.50%,

9/01/2028

(a)

35,000

34,849

4.38%,

8/15/2029

(a)

30,000

29,756

Graham

Packaging

Co.,

Inc.,

7.13%,

8/15/2028

(a)

15,000

15,432

Granite

US

Holdings

Corp.,

11.00%,

10/01/2027

(a)

10,000

10,956

Graphic

Packaging

International

LLC

4.13%,

8/15/2024

10,000

10,586

4.75%,

7/15/2027

(a)

8,000

8,659

3.50%,

3/15/2028

(a)

31,000

31,239

Great

Lakes

Dredge

&

Dock

Corp.,

5.25%,

6/01/2029

(a)

15,000

15,267

Greif,

Inc.,

6.50%,

3/01/2027

(a)

45,000

46,900

Griffon

Corp.,

5.75%,

3/01/2028

30,000

31,370

Harsco

Corp.,

5.75%,

7/31/2027

(a)

20,000

20,748

Hillenbrand,

Inc.

5.75%,

6/15/2025

15,000

15,785

5.00%,

9/15/2026

10,000

11,279

Howmet

Aerospace,

Inc.

5.13%,

10/01/2024

40,000

44,046

6.88%,

5/01/2025

35,000

40,585

5.90%,

2/01/2027

15,000

17,178

6.75%,

1/15/2028

15,000

18,320

5.95%,

2/01/2037

58,000

69,824

Husky

III

Holding

Ltd.,

13.00%,

2/15/2025

(a)(c)

5,000

5,301

Innovate

Corp.,

8.50%,

2/01/2026

(a)

30,000

29,980

Intelligent

Packaging

Ltd.

Finco,

Inc.

/

Intelligent

Packaging

Ltd.

Co.-Issuer

LLC,

6.00%,

9/15/2028

(a)

20,000

20,593

JELD-WEN,

Inc.

6.25%,

5/15/2025

(a)

10,000

10,543

4.88%,

12/15/2027

(a)

21,000

21,776

Koppers,

Inc.,

6.00%,

2/15/2025

(a)

20,000

20,477

Kratos

Defense

&

Security

Solutions,

Inc.,

6.50%,

11/30/2025

(a)

12,000

12,412

LABL

Escrow

Issuer

LLC,

10.50%,

7/15/2027

(a)

20,000

21,200

LABL,

Inc.,

6.75%,

7/15/2026

(a)

25,000

25,908

LSB

Industries,

Inc.,

6.25%,

10/15/2028

(a)

60,000

60,631

Manitowoc

Co.,

Inc.

(The),

9.00%,

4/01/2026

(a)

6,000

6,388

Masonite

International

Corp.,

5.38%,

2/01/2028

(a)

8,000

8,409

MasTec,

Inc.,

4.50%,

8/15/2028

(a)

20,000

20,543

Matthews

International

Corp.,

5.25%,

12/01/2025

(a)

23,000

23,637

Mauser

Packaging

Solutions

Holding

Co.

5.50%,

4/15/2024

(a)

73,000

73,075

8.50%,

4/15/2024

(a)

30,000

31,008

7.25%,

4/15/2025

(a)

55,000

53,292

Moog,

Inc.,

4.25%,

12/15/2027

(a)

17,000

17,515

Owens-Brockway

Glass

Container,

Inc.

5.88%,

8/15/2023

(a)

20,000

21,070

6.38%,

8/15/2025

(a)

10,000

10,976

113

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Industrial

–

9.0%

(continued)

Pactiv

Evergreen

Group

Issuer,

Inc./Pactiv

Evergreen

Group

Issuer

LLC/Reynolds

GRO,

4.00%,

10/15/2027

(a)

50,000

48,910

Pactiv

LLC

7.95%,

12/15/2025

6,000

6,687

8.38%,

4/15/2027

5,000

5,600

Park-Ohio

Industries,

Inc.,

6.63%,

4/15/2027

(b)

10,000

9,504

Patrick

Industries,

Inc.

7.50%,

10/15/2027

(a)

30,000

32,154

4.75%,

5/01/2029

(a)

50,000

49,746

PGT

Innovations,

Inc.,

4.38%,

10/01/2029

(a)

30,000

29,761

Plastipak

Holdings,

Inc.,

6.25%,

10/15/2025

(a)(b)

10,000

10,181

Rolls-Royce

PLC

3.63%,

10/14/2025

(a)

60,000

61,285

5.75%,

10/15/2027

(a)

20,000

22,206

Sealed

Air

Corp.

5.25%,

4/01/2023

(a)

15,000

15,672

5.13%,

12/01/2024

(a)

10,000

10,777

5.50%,

9/15/2025

(a)

15,000

16,570

4.00%,

12/01/2027

(a)

35,000

36,775

6.88%,

7/15/2033

(a)

13,000

16,670

Sensata

Technologies

BV

4.88%,

10/15/2023

(a)

15,000

15,910

5.63%,

11/01/2024

(a)

10,000

11,027

5.00%,

10/01/2025

(a)

20,000

21,905

Sensata

Technologies,

Inc.

4.38%,

2/15/2030

(a)

16,000

16,895

3.75%,

2/15/2031

(a)

20,000

19,780

Silgan

Holdings,

Inc.,

4.13%,

2/01/2028

20,000

20,355

Spirit

AeroSystems,

Inc.

3.95%,

6/15/2023

22,000

22,390

7.50%,

4/15/2025

(a)

50,000

52,793

SSL

Robotics

LLC,

9.75%,

12/31/2023

(a)

12,000

12,971

Standard

Industries,

Inc.

5.00%,

2/15/2027

(a)

25,000

25,661

4.75%,

1/15/2028

(a)

10,000

10,323

4.38%,

7/15/2030

(a)

60,000

60,211

3.38%,

1/15/2031

(a)

30,000

27,840

Stericycle,

Inc.

5.38%,

7/15/2024

(a)

35,000

36,002

3.88%,

1/15/2029

(a)

15,000

14,748

Stevens

Holding

Co.,

Inc.,

6.13%,

10/01/2026

(a)

5,000

5,404

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

6.50%,

3/15/2027

(a)

25,000

26,231

5.25%,

1/15/2029

(a)

5,000

5,257

Teekay

Corp.,

9.25%,

11/15/2022

(a)

45,000

46,403

Terex

Corp.,

5.00%,

5/15/2029

(a)

50,000

51,239

Tervita

Corp.,

11.00%,

12/01/2025

(a)

21,000

24,105

Titan

Acquisition

Ltd.

/

Titan

Co.-Borrower

LLC,

7.75%,

4/15/2026

(a)

20,000

20,402

TK

Elevator

US

Newco,

Inc.,

5.25%,

7/15/2027

(a)

50,000

50,964

Topbuild

Corp.,

3.63%,

3/15/2029

(a)

10,000

10,053

TransDigm,

Inc.

8.00%,

12/15/2025

(a)

55,000

58,500

6.25%,

3/15/2026

(a)

95,000

99,231

6.38%,

6/15/2026

65,000

67,250

7.50%,

3/15/2027

30,000

31,513

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Industrial

–

9.0%

(continued)

5.50%,

11/15/2027

35,000

35,886

4.63%,

1/15/2029

30,000

29,809

4.88%,

5/01/2029

25,000

25,083

Trident

TPI

Holdings,

Inc.

9.25%,

8/01/2024

(a)

5,000

5,240

6.63%,

11/01/2025

(a)

25,000

25,387

Trimas

Corp.,

4.13%,

4/15/2029

(a)

35,000

35,713

Trinity

Industries,

Inc.,

4.55%,

10/01/2024

15,000

15,903

Triumph

Group,

Inc.

6.25%,

9/15/2024

(a)

20,000

19,980

7.75%,

8/15/2025

(b)

18,000

18,294

Trivium

Packaging

Finance

BV,

5.50%,

8/15/2026

(a)

20,000

20,808

Tutor

Perini

Corp.,

6.88%,

5/01/2025

(a)(b)

20,000

20,389

Victors

Merger

Corp.,

6.38%,

5/15/2029

(a)

30,000

28,389

Waste

Pro

USA,

Inc.,

5.50%,

2/15/2026

(a)

12,000

11,883

Watco

Cos.

LLC

/

Watco

Finance

Corp.,

6.50%,

6/15/2027

(a)

10,000

10,649

Weekley

Homes

LLC

/

Weekley

Finance

Corp.,

4.88%,

9/15/2028

(a)

20,000

20,724

Werner

FinCo

LP

/

Werner

FinCo,

Inc.,

8.75%,

7/15/2025

(a)

5,000

5,215

WESCO

Distribution,

Inc.

7.13%,

6/15/2025

(a)

40,000

42,554

7.25%,

6/15/2028

(a)

35,000

38,641

XPO

CNW,

Inc.,

6.70%,

5/01/2034

10,000

12,572

XPO

Logistics,

Inc.,

6.25%,

5/01/2025

(a)

10,000

10,535

4,313,488

Technology

–

3.9%

AMS

AG,

7.00%,

7/31/2025

(a)(b)

10,000

10,607

Ascend

Learning

LLC

6.88%,

8/01/2025

(a)

10,000

10,178

6.88%,

8/01/2025

(a)

10,000

10,177

Austin

Bidco,

Inc.,

7.13%,

12/15/2028

(a)

20,000

20,651

Black

Knight

Infoserv

LLC,

3.63%,

9/01/2028

(a)

30,000

29,886

Blackboard,

Inc.,

10.38%,

11/15/2024

(a)

18,000

18,985

Booz

Allen

Hamilton,

Inc.

3.88%,

9/01/2028

(a)

20,000

20,294

4.00%,

7/01/2029

(a)

20,000

20,223

Boxer

Parent

Co.,

Inc.

7.13%,

10/02/2025

(a)

20,000

21,219

9.13%,

3/01/2026

(a)

20,000

20,941

Camelot

Finance

SA,

4.50%,

11/01/2026

(a)

15,000

15,552

Castle

US

Holding

Corp.,

9.50%,

2/15/2028

(a)

10,000

10,471

CDK

Global,

Inc.

5.00%,

10/15/2024

25,000

27,722

5.25%,

5/15/2029

(a)

15,000

16,081

Change

Healthcare

Holdings

LLC

/

Change

Healthcare

Finance,

Inc.,

5.75%,

3/01/2025

(a)

50,000

50,433

Consensus

Cloud

Solutions,

Inc.,

6.00%,

10/15/2026

(a)

120,000

122,543

Crowdstrike

Holdings,

Inc.,

3.00%,

2/15/2029

30,000

29,649

Dell,

Inc.

6.50%,

4/15/2038

7,000

9,296

5.40%,

9/10/2040

14,000

16,844

Diebold

Nixdorf,

Inc.

8.50%,

4/15/2024

(b)

10,000

10,016

9.38%,

7/15/2025

(a)

10,000

10,768

114

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Technology

–

3.9%

(continued)

Dun

&

Bradstreet

Corp.

(The)

6.88%,

8/15/2026

(a)

12,000

12,535

10.25%,

2/15/2027

(a)

10,000

10,728

Entegris,

Inc.,

4.38%,

4/15/2028

(a)

10,000

10,378

Exela

Intermediate

LLC

/

Exela

Finance,

Inc.,

10.00%,

7/15/2023

(a)

45,000

37,685

Granite

Merger

Sub

2,

Inc.,

11.00%,

7/15/2027

(a)

10,000

11,400

KBR,

Inc.,

4.75%,

9/30/2028

(a)

30,000

30,645

Microchip

Technology,

Inc.,

4.25%,

9/01/2025

50,000

51,989

MSCI,

Inc.

4.00%,

11/15/2029

(a)

25,000

26,130

3.63%,

9/01/2030

(a)

12,000

12,274

3.88%,

2/15/2031

(a)

40,000

41,306

3.25%,

8/15/2033

(a)

25,000

25,095

NCR

Corp.

5.00%,

10/01/2028

(a)

20,000

20,367

6.13%,

9/01/2029

(a)

11,000

11,824

5.25%,

10/01/2030

(a)

25,000

25,800

Nuance

Communications,

Inc.,

5.63%,

12/15/2026

30,000

30,977

Open

Text

Corp.

5.88%,

6/01/2026

(a)

45,000

46,529

3.88%,

2/15/2028

(a)

40,000

40,315

Open

Text

Holdings,

Inc.,

4.13%,

2/15/2030

(a)

65,000

66,103

Presidio

Holdings,

Inc.

4.88%,

2/01/2027

(a)

15,000

15,310

8.25%,

2/01/2028

(a)

15,000

15,973

PTC,

Inc.

3.63%,

2/15/2025

(a)

30,000

30,506

4.00%,

2/15/2028

(a)

22,000

22,347

Rackspace

Technology

Global,

Inc.

3.50%,

2/15/2028

(a)

15,000

14,293

5.38%,

12/01/2028

(a)

15,000

14,498

Roblox

Corp.,

3.88%,

5/01/2030

(a)

65,000

64,872

Rocket

Software,

Inc.,

6.50%,

2/15/2029

(a)(b)

20,000

19,277

Seagate

HDD

Cayman

4.75%,

6/01/2023

20,000

20,932

4.88%,

3/01/2024

50,000

53,344

4.75%,

1/01/2025

20,000

21,608

4.88%,

6/01/2027

30,000

33,095

4.09%,

6/01/2029

65,000

67,206

3.13%,

7/15/2029

(a)

15,000

14,378

4.13%,

1/15/2031

74,000

75,166

3.38%,

7/15/2031

(a)

10,000

9,585

SS&C

Technologies,

Inc.,

5.50%,

9/30/2027

(a)

85,000

89,536

Unisys

Corp.,

6.88%,

11/01/2027

(a)

20,000

21,801

Veritas

US,

Inc.

/

Veritas

Bermuda

Ltd.,

7.50%,

9/01/2025

(a)

55,000

57,008

Western

Digital

Corp.,

4.75%,

2/15/2026

55,000

60,426

Xerox

Corp.

4.38%,

3/15/2023

21,000

21,685

3.80%,

5/15/2024

(b)

8,000

8,327

4.80%,

3/01/2035

8,000

7,924

6.75%,

12/15/2039

26,000

28,329

Xerox

Holdings

Corp.

5.00%,

8/15/2025

(a)

20,000

20,762

5.50%,

8/15/2028

(a)(b)

40,000

40,483

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Technology

–

3.9%

(continued)

Ziff

Davis,

Inc.,

4.63%,

10/15/2030

(a)

22,000

23,045

1,886,332

Utilities

–

2.8%

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp.

5.63%,

5/20/2024

7,000

7,570

5.50%,

5/20/2025

20,000

21,710

Calpine

Corp.

5.25%,

6/01/2026

(a)

39,000

40,119

4.50%,

2/15/2028

(a)

36,000

36,459

5.13%,

3/15/2028

(a)

50,000

49,875

4.63%,

2/01/2029

(a)

30,000

29,169

5.00%,

2/01/2031

(a)

45,000

44,088

3.75%,

3/01/2031

(a)

30,000

28,790

Clearway

Energy

Operating

LLC

4.75%,

3/15/2028

(a)

40,000

42,295

3.75%,

2/15/2031

(a)

20,000

19,961

DPL,

Inc.

4.13%,

7/01/2025

25,000

26,490

4.35%,

4/15/2029

27,000

29,231

FirstEnergy

Corp.

Series

A,

3.35%,

7/15/2022

20,000

20,226

Series

B,

4.75%,

3/15/2023

30,000

31,101

2.05%,

3/01/2025

25,000

25,162

Series

A,

1.60%,

1/15/2026

10,000

9,888

Series

B,

4.40%,

7/15/2027

53,000

57,493

2.65%,

3/01/2030

25,000

24,726

Series

B,

2.25%,

9/01/2030

30,000

28,874

Series

C,

7.38%,

11/15/2031

45,000

61,086

Series

C,

5.35%,

7/15/2047

35,000

42,328

Series

C,

3.40%,

3/01/2050

35,000

34,688

FirstEnergy

Transmission

LLC

4.35%,

1/15/2025

(a)

30,000

32,494

5.45%,

7/15/2044

(a)

25,000

31,578

4.55%,

4/01/2049

(a)

20,000

23,317

NextEra

Energy

Operating

Partners

LP

4.25%,

7/15/2024

(a)

30,000

31,741

3.88%,

10/15/2026

(a)

12,000

12,774

4.50%,

9/15/2027

(a)

10,000

10,711

NRG

Energy,

Inc.

6.63%,

1/15/2027

9,000

9,354

5.75%,

1/15/2028

50,000

53,024

3.38%,

2/15/2029

(a)

10,000

9,778

5.25%,

6/15/2029

(a)

15,000

15,953

3.63%,

2/15/2031

(a)

20,000

19,479

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations,

Inc.,

4.50%,

8/15/2028

(a)

15,000

15,513

PG&E

Corp.,

5.25%,

7/01/2030

45,000

47,029

Pike

Corp.,

5.50%,

9/01/2028

(a)

15,000

15,262

Rockpoint

Gas

Storage

Canada

Ltd.,

7.00%,

3/31/2023

(a)

10,000

10,037

Solaris

Midstream

Holdings

LLC,

7.63%,

4/01/2026

(a)

20,000

21,100

Talen

Energy

Supply

LLC

7.25%,

5/15/2027

(a)

30,000

28,732

6.63%,

1/15/2028

(a)

15,000

14,185

7.63%,

6/01/2028

(a)

25,000

23,892

TerraForm

Global

Operating

LLC,

6.13%,

3/01/2026

(a)

20,000

20,497

115

(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,

2021,

these

securities

were

valued

at

$29,985,739

or

62.74%

of

net

assets.

(b)

Security,

or

portion

thereof,

on

loan.

At

October

31,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$2,109,985

and

the

value

of

the

collateral

was

$2,191,007,

consisting

of

cash

collateral

of

$1,347,194

and

U.S.

Government

&

Agency

securities

valued

at

$843,813.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(c)

Payment-in-kind

security

and

interest

may

be

paid

in

additional

par.

(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,

2021

was

$1,701,

which

represented

0.00%

of

the

Fund’s

Net

Assets.

(e)

Perpetual

bond

with

no

specified

maturity

date.

(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,

2021

are

as

follows:

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.7%

(continued)

Utilities

–

2.8%

(continued)

TransAlta

Corp.

4.50%,

11/15/2022

10,000

10,194

6.50%,

3/15/2040

5,000

5,888

Vistra

Operations

Co.

LLC

5.50%,

9/01/2026

(a)

28,000

28,825

5.63%,

2/15/2027

(a)

36,000

37,096

5.00%,

7/31/2027

(a)

35,000

35,837

4.38%,

5/01/2029

(a)

50,000

49,366

1,324,985

Total

Corporate

Bonds

(cost

$45,263,557)

46,711,430

Shares

Investment

Companies

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$81,310)

81,310

81,310

Investment

of

Cash

Collateral

for

Securities

Loaned

–

2.8%

Registered

Investment

Companies

–

2.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$1,347,194)

1,347,194

1,347,194

Total

Investments

(cost

$46,692,061)

100.7%

48,139,934

Liabilities,

Less

Cash

and

Receivables

(0.7)%

(346,525)

Net

Assets

100.0%

47,793,409

REIT—Real

Estate

Investment

Trust

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

707,896

12,701,420

(13,328,006)

—

—

81,310

0.2

94

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,613,009

8,478,996

(8,744,811)

—

—

1,347,194

2.8

11,728

2

Total

2,320,905

21,180,416

(22,072,817)

—

—

1,428,504

3.0

11,822

1

Includes

reinvested

dividends/distributions.

116

STATEMENT

OF

INVESTMENTS

(continued)

(g)

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2021.

See

Notes

to

Financial

Statements

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

20.8

Consumer,

Non-cyclical

17.3

Communications

16.3

Energy

12.9

Financial

10.6

Industrial

9.0

Basic

Materials

4.1

Technology

3.9

Registered

Investment

Companies

3.0

Utilities

2.8

Diversified

0.0

100.7

†

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

12/20/2026

2,750,000

261,814

258,736

3,078

(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.

117

STATEMENTS

OF

ASSETS

AND

LIABILITIES

October

31,

2021

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

390,846,959‌

112,525,845‌

180,405,005‌

Affiliated

issuers

442,022‌

1,137,776‌

5,072,488‌

Cash

—‌

4,400‌

2,280‌

Collateral

with

brokers

for

initial

margin—Note

4

28,000‌

32,000‌

12,000‌

Dividends

receivable

305,701‌

41,390‌

35,920‌

Tax

reclaim

receivable—Note

2(b)

2,078‌

105‌

444‌

Receivable

for

futures

variation

margin—Note

4

950‌

150‌

10‌

Securities

lending

income

receivable

671‌

600‌

5,789‌

391,626,381‌

113,742,266‌

185,533,936‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

36‌

3,746‌

5,577‌

Liability

for

securities

on

loan—Note

2(c)

140,106‌

897,130‌

4,718,610‌

140,142‌

900,876‌

4,724,187‌

Net

Assets

($)

391,486,239‌

112,841,390‌

180,809,749‌

Composition

of

Net

Assets

($):

Paid-in

capital

326,207,952‌

86,857,572‌

166,300,873‌

Total

distributable

earnings

(loss)

65,278,287‌

25,983,818‌

14,508,876‌

Net

Assets

($)

391,486,239‌

112,841,390‌

180,809,749‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

4,500,000‌

1,200,000‌

1,850,000‌

Net

asset

value

per

share

87.00‌

94.03‌

97.73‌

Market

price

per

share

87.03‌

94.11‌

97.86‌

†

Investments

at

cost

($)

Unaffiliated

issuers

323,739,166‌

85,693,394‌

162,899,719‌

Affiliated

issuers

442,022‌

1,137,776‌

5,072,488‌

††

Value

of

securities

on

loan

($)

5,663,907‌

5,928,369‌

13,042,448‌

118

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

99,923,804‌

38,485,897‌

Affiliated

issuers

267,273‌

165,364‌

Cash

2,313‌

—‌

Cash

denominated

in

foreign

currency

†††

79,451‌

90,721‌

Collateral

with

brokers

for

initial

margin—Note

4

30,000‌

9,000‌

Dividends

receivable

151,498‌

7,622‌

Tax

reclaim

receivable—Note

2(b)

75,142‌

313‌

Receivable

for

investment

securities

sold

74,363‌

13,742‌

Receivable

for

shares

of

Beneficial

Interest

subscribed

73,918‌

—‌

Securities

lending

income

receivable

5‌

14‌

Interest

receivable

—‌

6‌

Receivable

for

futures

variation

margin—Note

4

—‌

1,661‌

100,677,767‌

38,774,340‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

2,241‌

3,600‌

Liability

for

securities

on

loan—Note

2(c)

145,698‌

151,079‌

Payable

for

investment

securities

purchased

119,307‌

42,048‌

Payable

for

futures

variation

margin—Note

4

1,390‌

—‌

Payable

for

foreign

capital

gains

tax—Note

2(b)

—‌

166,474‌

268,636‌

363,201‌

Net

Assets

($)

100,409,131‌

38,411,139‌

Composition

of

Net

Assets

($):

Paid-in

capital

86,948,643‌

30,277,989‌

Total

distributable

earnings

(loss)

13,460,488‌

8,133,150‌

Net

Assets

($)

100,409,131‌

38,411,139‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

1,350,000‌

550,000‌

Net

asset

value

per

share

74.38‌

69.84‌

Market

price

per

share

74.86‌

69.90‌

†

Investments

at

cost

($)

Unaffiliated

issuers

85,815,880‌

29,657,240‌

Affiliated

issuers

267,273‌

165,364‌

††

Value

of

securities

on

loan

($)

61,900‌

164,053‌

†††

Cash

denominated

in

foreign

currency

(cost)

($)

79,393‌

90,691‌

119

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

192,710,075‌

42,888,945‌

46,711,430‌

Affiliated

issuers

12,518,355‌

807,046‌

1,428,504‌

Cash

—‌

—‌

137,595‌

Collateral

with

brokers

for

swap

agreements

—‌

—‌

238,506‌

Receivable

for

investment

securities

sold—TBA

2,030,025‌

—‌

—‌

Receivable

for

investment

securities

sold

2,022,599‌

—‌

341,004‌

Interest

receivable

958,295‌

310,066‌

663,810‌

Securities

lending

income

receivable

505‌

26‌

1,269‌

Dividends

receivable

80‌

3‌

6‌

210,239,934‌

44,006,086‌

49,522,124‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

1,590‌

2,124‌

8,927‌

TBA

sale

commitments

at

value—Note

4

†††

265,122‌

—‌

—‌

Liability

for

securities

on

loan—Note

2(c)

3,594,325‌

164,650‌

1,347,194‌

Payable

for

investment

securities

purchased—TBA

10,380,862‌

—‌

—‌

Payable

for

investment

securities

purchased

1,248,924‌

542,432‌

365,232‌

Payable

for

swaps

variation

margin—Note

4

—‌

—‌

7,362‌

15,490,823‌

709,206‌

1,728,715‌

Net

Assets

($)

194,749,111‌

43,296,880‌

47,793,409‌

Composition

of

Net

Assets

($):

Paid-in

capital

196,651,156‌

43,032,816‌

45,336,193‌

Total

distributable

earnings

(loss)

(1,902,045‌)

264,064‌

2,457,216‌

Net

Assets

($)

194,749,111‌

43,296,880‌

47,793,409‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

3,950,000‌

850,000‌

850,000‌

Net

asset

value

per

share

49.30‌

50.94‌

56.23‌

Market

price

per

share

49.33‌

50.96‌

56.24‌

†

Investments

at

cost

($)

Unaffiliated

issuers

194,116,723‌

42,865,987‌

45,263,557‌

Affiliated

issuers

12,518,355‌

807,046‌

1,428,504‌

††

Value

of

securities

on

loan

($)

10,348,159‌

234,806‌

2,109,985‌

†††

TBA

sale

commitments

proceeds

($)

265,632‌

—‌

—‌

120

STATEMENTS

OF

OPERATIONS

October

31,

2021

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

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

3,535,201‌

1,161,549‌

1,482,643‌

Affiliated

issuers

24‌

17‌

20‌

Interest

1‌

1‌

2‌

Income

from

securities

lending—Note

2(c)

7,745‌

9,402‌

37,784‌

Total

Income

3,542,971‌

1,170,969‌

1,520,449‌

Expenses:

Management

fees—Note

3(a)

—‌

36,562‌

44,058‌

Total

Expenses

—‌

36,562‌

44,058‌

Investment

Income—Net

3,542,971‌

1,134,407‌

1,476,391‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(

1,902,388‌

)

(

764,785‌

)

(

2,965,870‌

)

Net

realized

gain

(loss)

on

in-kind

redemptions

13,813,490‌

6,863,540‌

16,944,632‌

Net

realized

gain

(loss)

on

futures

37,793‌

6,008‌

15,550‌

Net

realized

gain

(loss)

11,948,895‌

6,104,763‌

13,994,312‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

61,766,509‌

19,138,264‌

8,916,068‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

18,426‌

11,952‌

1,515‌

Net

change

in

unrealized

appreciation

(depreciation)

61,784,935‌

19,150,216‌

8,917,583‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

73,733,830‌

25,254,979‌

22,911,895‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

77,276,801‌

26,389,386‌

24,388,286‌

†

Net

of

foreign

taxes

withheld

at

source

($)

714‌

–‌

734‌

121

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

1,311,230‌

852,925‌

Affiliated

issuers

10‌

23‌

Interest

20‌

31‌

Income

from

securities

lending—Note

2(c)

65‌

957‌

Total

Income

1,311,325‌

853,936‌

Expenses:

Management

fees—Note

3(a)

20,081‌

44,459‌

Total

Expenses

20,081‌

44,459‌

Less—reduction

in

fees

due

pursuant

to

undertaking—Note

3(a)

—‌

(

76‌

)

Net

Expenses

20,081‌

44,383‌

Investment

Income—Net

1,291,244‌

809,553‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

(

407,600‌

)

(

313,645‌

)

Net

realized

gain

(loss)

on

in-kind

redemptions

441,870‌

2,337,456‌

Net

realized

gain

(loss)

on

futures

25,344‌

(

25,016‌

)

Net

realized

gain

(loss)

59,614‌

1,998,795‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

10,840,748‌

2,167,326‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

19,440‌

2,087‌

Net

change

in

unrealized

appreciation

(depreciation)

10,860,188‌

2,169,413‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

10,919,802‌

4,168,208‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

12,211,046‌

4,977,761‌

†

Net

of

foreign

taxes

withheld

at

source

($)

135,495‌

121,292‌

122

STATEMENTS

OF

OPERATIONS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

720‌

27‌

94‌

Interest

1,082,048‌

488,290‌

2,376,557‌

Income

from

securities

lending—Note

2(c)

3,713‌

503‌

11,728‌

Total

Income

1,086,481‌

488,820‌

2,388,379‌

Expenses:

Management

fees—Note

3(a)

—‌

20,522‌

101,012‌

Total

Expenses

—‌

20,522‌

101,012‌

Investment

Income—Net

1,086,481‌

468,298‌

2,287,367‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(

198,233‌

)

198,278‌

947,182‌

Net

realized

gain

(loss)

on

in-kind

redemptions

(

76,550‌

)

—‌

2,013,545‌

Net

realized

gain

(loss)

on

swap

agreements

—‌

—‌

126,873‌

Net

realized

gain

(loss)

(

274,783‌

)

198,278‌

3,087,600‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(

1,354,620‌

)

(

581,431‌

)

(

448,884‌

)

Net

change

in

unrealized

appreciation

(depreciation)

on

swap

agreements

—‌

—‌

19,814‌

Net

change

in

unrealized

appreciation

(depreciation)

(

1,354,620‌

)

(

581,431‌

)

(

429,070‌

)

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

(

1,629,403‌

)

(

383,153‌

)

2,658,530‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

(

542,922‌

)

85,145‌

4,945,897‌

123

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

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

3,542,971‌

489,872‌

1,134,407‌

274,647‌

Net

realized

gain

(loss)

on

investments

11,948,895‌

(191,270‌)

6,104,763‌

568,627‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

61,784,935‌

5,341,284‌

19,150,216‌

7,694,187‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

77,276,801‌

5,639,886‌

26,389,386‌

8,537,461‌

Distributions

($):

Distributions

to

shareholders

(3,307,327‌)

(386,114‌

)

(1,097,103‌)

(255,842‌)

Capital

Contributions

($):

Capital

contributions

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(a)

120

–

–

–

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

269,191,424‌

90,618,689‌

68,930,826‌

34,179,337‌

Cost

of

shares

redeemed

(44,719,840‌)

(2,927,400‌)

(20,777,288‌)

(3,065,387‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

224,471,584‌

87,691,289‌

48,153,538‌

31,113,950‌

Total

Increase

(Decrease)

in

Net

Assets

298,441,178‌

92,945,061‌

73,445,821‌

39,395,569‌

Net

Assets

($):

Beginning

of

Period

93,045,061‌

100,000‌

39,395,569‌

—‌

End

of

Period

391,486,239‌

93,045,061‌

112,841,390‌

39,395,569‌

Changes

in

Shares

Outstanding:

Initial

shares

—‌

2,000‌

—‌

—‌

Shares

sold

3,600,000‌

1,550,000‌

850,000‌

650,020‌

Shares

redeemed

(602,000‌)

(50,000‌)

(250,020‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

2,998,000‌

1,502,000‌

599,980‌

600,020‌

(a)

Commencement

of

operations.

124

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

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

1,476,391‌

291,710‌

1,291,244‌

415,949‌

Net

realized

gain

(loss)

on

investments

13,994,312‌

1,496,139‌

59,614‌

(86,219‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

8,917,583‌

8,589,218‌

10,860,188‌

3,252,631‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

24,388,286‌

10,377,067‌

12,211,046‌

3,582,361‌

Distributions

($):

Distributions

to

shareholders

(1,262,690‌)

(277,635‌

)

(1,387,854‌)

(384,266‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

168,747,266‌

36,466,319‌

62,105,390‌

30,487,825‌

Cost

of

shares

redeemed

(51,365,306‌)

(6,263,558‌)

(3,353,413‌)

(2,851,958‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

117,381,960‌

30,202,761‌

58,751,977‌

27,635,867‌

Total

Increase

(Decrease)

in

Net

Assets

140,507,556‌

40,302,193‌

69,575,169‌

30,833,962‌

Net

Assets

($):

Beginning

of

Period

40,302,193‌

—‌

30,833,962‌

—‌

End

of

Period

180,809,749‌

40,302,193‌

100,409,131‌

30,833,962‌

Changes

in

Shares

Outstanding:

Shares

sold

1,800,000‌

700,020‌

850,000‌

600,020‌

Shares

redeemed

(

550,020‌)

(100,000‌)

(50,020‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

1,249,980‌

600,020‌

799,980‌

550,020‌

(a)

Commencement

of

operations.

125

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

809,553‌

438,617‌

1,086,481‌

195,469‌

Net

realized

gain

(loss)

on

investments

1,998,795‌

231,047‌

(274,783‌)

4,042‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

2,169,413‌

6,480,321‌

(1,354,620‌)

(51,518‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

4,977,761‌

7,149,985‌

(542,922‌)

147,993‌

Distributions

($):

Distributions

to

shareholders

(972,152‌)

(418,648‌)

(1,359,087‌)

(229,445‌)

Capital

Contributions

($):

Capital

contributions

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(a)

–

–

3,938

–

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

11,443,423‌

30,459,085‌

166,102,974‌

45,329,228‌

Cost

of

shares

redeemed

(11,388,636‌)

(2,839,679‌)

(14,703,568‌)

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

54,787‌

27,619,406‌

151,399,406‌

45,329,228‌

Total

Increase

(Decrease)

in

Net

Assets

4,060,396‌

34,350,743‌

149,501,335‌

45,247,776‌

Net

Assets

($):

Beginning

of

Period

34,350,743‌

—‌

45,247,776‌

—‌

End

of

Period

38,411,139‌

34,350,743‌

194,749,111‌

45,247,776‌

Changes

in

Shares

Outstanding:

Shares

sold

150,000‌

600,020‌

3,350,000‌

900,020‌

Shares

redeemed

(150,020‌)

(50,000‌)

(300,020‌)

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

(20‌)

550,020‌

3,049,980‌

900,020‌

(a)

Commencement

of

operations.

126

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

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

468,298‌

242,213‌

2,287,367‌

1,394,661‌

Net

realized

gain

(loss)

on

investments

198,278‌

111,233‌

3,087,600‌

273,256‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(581,431‌)

604,389‌

(429,070‌)

1,880,021‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

85,145‌

957,835‌

4,945,897‌

3,547,938‌

Distributions

($):

Distributions

to

shareholders

(575,018‌)

(203,898‌)

(2,670,999‌)

(1,142,444‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

15,408,150‌

27,625,690‌

25,188,091‌

51,656,440‌

Cost

of

shares

redeemed

(1,024‌)

—‌

(33,731,514‌)

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

15,407,126‌

27,625,690‌

(8,543,423‌)

51,656,440‌

Total

Increase

(Decrease)

in

Net

Assets

14,917,253‌

28,379,627‌

(6,268,525‌)

54,061,934‌

Net

Assets

($):

Beginning

of

Period

28,379,627‌

—‌

54,061,934‌

—‌

End

of

Period

43,296,880‌

28,379,627‌

47,793,409‌

54,061,934‌

Changes

in

Shares

Outstanding:

Shares

sold

300,000‌

550,020‌

450,000‌

1,000,020‌

Shares

redeemed

(20‌)

—‌

(600,020‌)

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

299,980‌

550,020‌

(150,020‌)

1,000,020‌

(a)

Commencement

of

operations.

127

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

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

61.95‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

1.06‌

0.56‌

Net

realized

and

unrealized

gain

(loss)

on

investments

24.90‌

11.81‌

Total

from

Investment

Operations

25.96‌

12.37‌

Distributions:

Dividends

from

investment

income—net

(0.91‌)

(0.42‌)

Net

asset

value,

end

of

period

87.00‌

61.95‌

Market

price,

end

of

period

(c)

87.03‌

61.82‌

Net

Asset

Value

Total

Return

(%)

(d)

42.08‌

24.76‌

Market

Price

Total

Return

(%)

(d)

42.42‌

24.50‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(e)

–‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1.35‌

(e)

1.63‌

(f)

Portfolio

Turnover

Rate

(g)

10.53‌

10.62‌

Net

Assets,

end

of

period

($

x

1,000)

391,486‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

128

See

Notes

to

Financial

Statements

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

65.66‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

1.07‌

0.50‌

Net

realized

and

unrealized

gain

(loss)

on

investments

28.28‌

15.63‌

Total

from

Investment

Operations

29.35‌

16.13‌

Distributions:

Dividends

from

investment

income—net

(0.98‌)

(0.47‌)

Net

asset

value,

end

of

period

94.03‌

65.66‌

Market

price,

end

of

period

(c)

94.11‌

65.55‌

Net

Asset

Value

Total

Return

(%)

(d)

44.87‌

32.27‌

Market

Price

Total

Return

(%)

(d)

45.23‌

32.06‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(e)

0.04‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1.24‌

(e)

1.43‌

(f)

Portfolio

Turnover

Rate

(g)

32.65‌

21.26‌

Net

Assets,

end

of

period

($

x

1,000)

112,841‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

129

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Year

Ended

October

31,

2021

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

67

.17‌

50

.00‌

Investment

Operations:

Investment

income—net

(b)

1

.25‌

0

.49‌

Net

realized

and

unrealized

gain

(loss)

on

investments

30

.31‌

17

.14‌

Total

from

Investment

Operations

31

.56‌

17

.63‌

Distributions:

Dividends

from

investment

income—net

(

1

.00‌

)

(

0

.46‌

)

Net

asset

value,

end

of

period

97

.73‌

67

.17‌

Market

price,

end

of

period

(c)

97

.86‌

67

.03‌

Net

Asset

Value

Total

Return

(%)

(d)

47

.08‌

35

.30‌

Market

Price

Total

Return

(%)

(d)

47

.59‌

35

.03‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.04‌

(e)

0

.04‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1

.34‌

(e)

1

.37‌

(f)

Portfolio

Turnover

Rate

(g)

50

.09‌

32

.54‌

Net

Assets,

end

of

period

($

x

1,000)

180,810‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

130

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

56

.06‌

50

.00‌

Investment

Operations:

Investment

income—net

(b)

1

.82‌

0

.76‌

Net

realized

and

unrealized

gain

(loss)

on

investments

18

.31‌

6

.00‌

Total

from

Investment

Operations

20

.13‌

6

.76‌

Distributions:

Dividends

from

investment

income—net

(

1

.81‌

)

(

0

.70‌

)

Net

asset

value,

end

of

period

74

.38‌

56

.06‌

Market

price,

end

of

period

(c)

74

.86‌

56

.66‌

Net

Asset

Value

Total

Return

(%)

(d)

36

.10‌

13

.49‌

Market

Price

Total

Return

(%)

(d)

35

.52‌

14

.69‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.04‌

(e)

0

.04‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

2

.57‌

(e)

2

.55‌

(f)

Portfolio

Turnover

Rate

(g)

13

.49‌

12

.82‌

Net

Assets,

end

of

period

($

x

1,000)

100,409‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

131

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

62

.45‌

50

.00‌

Investment

Operations:

Investment

income—net

(b)

1

.47‌

0

.81‌

Net

realized

and

unrealized

gain

(loss)

on

investments

7

.69‌

12

.40‌

Total

from

Investment

Operations

9

.16‌

13

.21‌

Distributions:

Dividends

from

investment

income—net

(

1

.77‌

)

(

0

.76‌

)

Net

asset

value,

end

of

period

69

.84‌

62

.45‌

Market

price,

end

of

period

(c)

69

.90‌

62

.92‌

Net

Asset

Value

Total

Return

(%)

(d)

14

.61‌

26

.52‌

Market

Price

Total

Return

(%)

(d)

13

.83‌

27

.44‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.11‌

(e)

0

.11‌

(f)

Ratio

of

net

expenses

to

average

net

assets

0

.11‌

(e)

0

.11‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

2

.00‌

(e)

2

.63‌

(f)

Portfolio

Turnover

Rate

(g)

17

.42‌

12

.84‌

Net

Assets,

end

of

period

($

x

1,000)

38,411‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

132

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.27‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.55‌

0.32‌

Net

realized

and

unrealized

gain

(loss)

on

investments

(0.75‌)

0.33‌

Total

from

Investment

Operations

(0.20‌)

0.65‌

Distributions:

Dividends

from

investment

income—net

(0.77‌)

(0.38‌)

Net

asset

value,

end

of

period

49.30‌

50.27‌

Market

price,

end

of

period

(c)

49.33‌

50.29‌

Net

Asset

Value

Total

Return

(%)

(d)

(0.41‌)

1.30‌

Market

Price

Total

Return

(%)

(d)

(0.38‌)

1.33‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(e)

–‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1.12‌

(e)

1.20‌

(f)

Portfolio

Turnover

Rate

(g)

105.97‌

27.32‌

Net

Assets,

end

of

period

($

x

1,000)

194,745‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

133

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

51

.60‌

50

.00‌

Investment

Operations:

Investment

income—net

(b)

0

.70‌

0

.44‌

Net

realized

and

unrealized

gain

(loss)

on

investments

(

0

.44‌

)

1

.53‌

Total

from

Investment

Operations

0

.26‌

1

.97‌

Distributions:

Dividends

from

investment

income—net

(

0

.72‌

)

(

0

.37‌

)

Dividends

from

net

realized

gain

on

investments

(

0

.20‌

)

—‌

Total

Distributions

(

0

.92‌

)

(

0

.37‌

)

Net

asset

value,

end

of

period

50

.94‌

51

.60‌

Market

price,

end

of

period

(c)

50

.96‌

51

.65‌

Net

Asset

Value

Total

Return

(%)

(d)

0

.49‌

3

.94‌

Market

Price

Total

Return

(%)

(d)

0

.44‌

4

.05‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.06‌

(e)

0

.06‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1

.37‌

(e)

1

.65‌

(f)

Portfolio

Turnover

Rate

(g)

41

.25‌

24

.94‌

Net

Assets,

end

of

period

($

x

1,000)

43,297‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

134

See

Notes

to

Financial

Statements

BNY

Mellon

High

Yield

Beta

ETF

Year

Ended

October

31,

2021

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

54

.06‌

50

.00‌

Investment

Operations:

Investment

income—net

(b)

2

.80‌

1

.70‌

Net

realized

and

unrealized

gain

(loss)

on

investments

2

.66‌

3

.74‌

Total

from

Investment

Operations

5

.46‌

5

.44‌

Distributions:

Dividends

from

investment

income—net

(

2

.87‌

)

(

1

.38‌

)

Dividends

from

net

realized

gain

on

investments

(

0

.42‌

)

—‌

Total

Distributions

(

3

.29‌

)

(

1

.38‌

)

Net

asset

value,

end

of

period

56

.23‌

54

.06‌

Market

price,

end

of

period

(c)

56

.24‌

54

.08‌

Net

Asset

Value

Total

Return

(%)

(d)

10

.27‌

10

.94‌

Market

Price

Total

Return

(%)

(d)

10

.25‌

10

.98‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.22‌

(e)

0

.22‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

4

.98‌

(e)

6

.06‌

(f)

Portfolio

Turnover

Rate

(g)

61

.03‌

39

.43‌

Net

Assets,

end

of

period

($

x

1,000)

47,793‌

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)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Annualized.

(g)

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.

135

NOTES

TO

FINANCIAL

STATEMENTS

NOTE

1—Organization:

BNY

Mellon

ETF

Trust

(the

“Trust”) is

registered 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

nine

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

("Mellon”),

a

wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

each

fund’s

sub-investment

adviser,

except

for

BNY

Mellon

High

Yield

Beta

ETF.

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”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

is

not

affiliated

with

the

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Bloomberg

does

not

guarantee

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).

Prior

to

September

1,

2021,

Mellon

served

as

BNY

Mellon

High

Yield

Beta

ETF's

sub-investment

adviser.

Effective

September

1,

2021

(the

“Effective

Date”),

Insight

North

America

LLC

(“INA”),

a

wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

BNY

Mellon

High

Yield

Beta

ETF's

sub-investment

adviser.

As

the

fund's

sub-investment

adviser,

INA

provides

the

day-to-day

management

of

the

fund's

investments,

subject

to

the

Adviser's

supervision

and

approval.

As

was

the

case

under

the

sub-investment

advisory

agreement

between

the

Adviser

and

Mellon,

the

Adviser

(and

not

the

fund)

pays INA

for

its

sub-investment

advisory

services.

The

rate

of

sub-investment

advisory

fee

payable

by

the

Adviser

to

INA is

the

same

as

was

paid

by

the

Adviser

to

Mellon

pursuant

to

the

respective

sub-investment

advisory

agreements.

As

of

the

Effective

Date,

portfolio

managers

responsible

for

managing

BNY

Mellon

High

Yield

Beta

ETF's

investments

as

employees

of

Mellon

became

employees

of

INA

and

are

no

longer

employees

of

Mellon.

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.

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

 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

US

Aggregate

Total

Return

Index

††

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Bloomberg

US

Corporate

1-5

Years

Total

Return

Index

††

BNY

Mellon

High

Yield

Beta

ETF

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

††

136

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

basis.

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.

Swap

agreements 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,

2021

in

valuing

each

fund’s

investments:

137

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

390,846,959

—

—

—

—

—

390,846,959

Investment

Companies

301,916

—

—

—

—

—

301,916

Investment

of

Cash

Collateral

for

Securities

Loaned

140,106

—

—

—

—

—

140,106

Other

Financial

Instruments:

Futures

††

18,426

—

—

—

—

—

18,426

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Common

Stocks

112,525,845

—

—

—

—

—

112,525,845

Investment

Companies

240,646

—

—

—

—

—

240,646

Investment

of

Cash

Collateral

for

Securities

Loaned

897,130

—

—

—

—

—

897,130

Other

Financial

Instruments:

Futures

††

11,952

—

—

—

—

—

11,952

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Common

Stocks

180,405,005

—

—

—

—

—

180,405,005

Investment

Companies

353,878

—

—

—

—

—

353,878

Investment

of

Cash

Collateral

for

Securities

Loaned

4,718,610

—

—

—

—

—

4,718,610

Other

Financial

Instruments:

Futures

††

1,515

—

—

—

—

—

1,515

BNY

Mellon

International

Equity

ETF

Common

Stocks

99,131,065

—

208,026

—

—

—

99,339,091

Preferred

Stocks

584,294

—

—

—

—

—

584,294

Rights

—

—

419

—

—

—

419

Investment

Companies

121,575

—

—

—

—

—

121,575

Investment

of

Cash

Collateral

for

Securities

Loaned

145,698

—

—

—

—

—

145,698

Other

Financial

Instruments:

Futures

††

6,936

—

—

—

—

—

6,936

BNY

Mellon

Emerging

Markets

Equity

ETF

Common

Stocks

37,559,578

—

54,561

—

—

—

37,614,139

Corporate

Bonds

—

—

261

—

—

—

261

Preferred

Stocks

871,497

—

—

—

—

—

871,497

Investment

Companies

14,285

—

—

—

—

—

14,285

Investment

of

Cash

Collateral

for

Securities

Loaned

151,079

—

—

—

—

—

151,079

Other

Financial

Instruments:

Futures

††

793

—

—

—

—

—

793

BNY

Mellon

Core

Bond

ETF

Asset-Backed

Securities

—

—

453,899

—

—

—

453,899

Commercial

Mortgage-Backed

Securities

—

—

2,111,225

—

—

—

2,111,225

Corporate

Bonds

—

—

51,277,008

—

—

—

51,277,008

Foreign

Governmental

—

—

3,821,757

—

—

—

3,821,757

Municipal

Securities

—

—

727,029

—

—

—

727,029

Supranational

Bank

—

—

2,620,229

—

—

—

2,620,229

U.S.

Government

Agencies

—

—

57,851,553

—

—

—

57,851,553

U.S.

Treasury

Government

Securities

—

—

73,847,375

—

—

—

73,847,375

Investment

Companies

8,924,030

—

—

—

—

—

8,924,030

Investment

of

Cash

Collateral

for

Securities

Loaned

3,594,325

—

—

—

—

—

3,594,325

TBA

Sale

Commitments

—

—

—

(265,122)

—

—

(265,122)

138

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:

Each

relevant

fund

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,

2021

,

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,

2021.

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

—

—

42,888,945

—

—

—

42,888,945

Investment

Companies

642,396

—

—

—

—

—

642,396

Investment

of

Cash

Collateral

for

Securities

Loaned

164,650

—

—

—

—

—

164,650

BNY

Mellon

High

Yield

Beta

ETF

Corporate

Bonds

—

—

46,711,430

—

—

—

46,711,430

Investment

Companies

81,310

—

—

—

—

—

81,310

Investment

of

Cash

Collateral

for

Securities

Loaned

1,347,194

—

—

—

—

—

1,347,194

Other

Financial

Instruments:

Centrally

Cleared

Credit

Default

Swaps

††

—

—

3,078

—

—

—

3,078

†

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.

139

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.

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.

The

COVID-19

pandemic

has

had,

and

any

other

outbreak

of

an

infectious

disease

or

other

serious

public

health

concern

could

have,

a

significant

negative

impact

on

economic

and

market

conditions

and

could

trigger

a

prolonged

period

of

global

economic

slowdown.

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

$

1,059

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,607

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

5,119

BNY

Mellon

International

Equity

ETF

9

BNY

Mellon

Emerging

Markets

Equity

ETF

120

BNY

Mellon

Core

Bond

ETF

504

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

67

BNY

Mellon

High

Yield

Beta

ETF

1,565

140

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

As

of

and

during

the year

ended October

31,

2021,

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 year

ended October

31,

2021,

the

funds

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

two-year

period

ended

October

31,

2021 remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities.

The

table below

summarizes

each

fund’s

components

of

accumulated

earnings

on

a

tax

basis

at October

31,

2021.

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,

2021.

Capital

Loss

Carryover

The

table below

summarizes

each

fund’s

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

periods

ended October

31,

2021 and

October

31,

2020.

The

tax

character

of

current

year

distributions

will

be

determined

at

the

end

of

the

current

fiscal

year.

Tax

Character

of

Distributions

Paid

During

the

year

ended

October

31,

2021,

as

a

result

of

permanent

book

to

tax

differences,

each

relevant

fund

increased/decreased

total

distributable

earnings

(loss)

and

increased/decreased

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

$320,293

$(1,167,135)

$

-

$66,125,129

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

16,236

(22,772)

-

25,990,354

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

93,753

-

-

14,415,123

BNY

Mellon

International

Equity

ETF

296,492

(490,678)

-

13,654,674

BNY

Mellon

Emerging

Markets

Equity

ETF

-

(431,748)

-

8,564,898

BNY

Mellon

Core

Bond

ETF

255,436

(664,158)

-

(1,493,323)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

136,202

-

105,661

22,201

BNY

Mellon

High

Yield

Beta

ETF

1,010,166

-

-

1,447,049

Short-Term

Losses

Long-Term

Losses

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$1,167,135

$

-

$1,167,135

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

22,772

-

22,772

BNY

Mellon

International

Equity

ETF

465,786

24,892

490,678

BNY

Mellon

Emerging

Markets

Equity

ETF

311,539

120,209

431,748

BNY

Mellon

Core

Bond

ETF

552,586

111,572

664,158

Ordinary

Income

†

2021

Ordinary

Income

†

2020

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$3,307,327

$386,114

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,097,103

255,842

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,262,690

277,635

BNY

Mellon

International

Equity

ETF

1,387,854

384,266

BNY

Mellon

Emerging

Markets

Equity

ETF

972,152

418,648

BNY

Mellon

Core

Bond

ETF

1,359,087

229,445

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

575,018

203,898

BNY

Mellon

High

Yield

Beta

ETF

2,670,999

1,142,444

†

Includes

short-term

capital

gain

distributions,

if

any.

141

Return

of

Capital

Statement

of

Position

(h)

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”),

and

in

January

2021,

the

FASB

issued

Accounting

Standards

Update

2021-01,

Reference

Rate

Reform

(Topic

848):

Scope

(“ASU

2021-

01”),

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

Interbank

Offered

Rate

(“IBOR”)-based

reference

rates

as

of

the

end

of

2021.

The

temporary

relief

provided

by

ASU

2020-04

and

ASU

2021-01 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

and

ASU

2021-01 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.

The

Adviser

has

contractually

agreed,

from March

1,

2021

through

March

1,

2022,

to

waive

receipt

of

its

management

fees

and/or

assume

expenses

of

BNY

Mellon

Emerging

Markets

Equity

ETF

(excluding

payments

under

the

fund’s

12b-1

plan

(if

any),

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)

do

not

exceed

0.11%

of

the

value

of

the

fund’s

average

daily

net

assets.

This

agreement

is

in

effect

March

1,

2022,

and the

Adviser

may

terminate

this

expense

limitation

at

any

time.

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

management

fees,

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.

For

financial

reporting

purposes

such

payments

pursuant

to

undertakings

above

will

be

considered

a

reduction

in

expenses

presented

in

the

Statement

of

Operations.

If

such

payments

made

to

certain

funds

would

be

excess

over

expenses

borne

directly

by

each

fund,

such

payments

will

be

considered

Capital

Contributions

from

Adviser

presented

in

the

Statement

of

Changes.

During

the

period

ended

October

31,

2021,

there

was

no

impact

on

the

Total

Return

of

each

relevant

fund

as

a

result

of

the

Capital

Contributions

from

Adviser.

The

table

below

summarizes

the

amounts

pursuant

to

undertakings

during

the

period

ended

October

31,

2021.

Total

Distributable

Earnings

(Loss)

Paid-in

Capital

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$(13,740,684)

$13,740,684

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(6,852,958)

6,852,958

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(16,794,524)

16,794,524

BNY

Mellon

International

Equity

ETF

(440,223)

440,223

BNY

Mellon

Emerging

Markets

Equity

ETF

(2,321,536)

2,321,536

BNY

Mellon

Core

Bond

ETF

81,260

(81,260)

BNY

Mellon

High

Yield

Beta

ETF

(2,223,177)

2,223,177

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%

142

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Reduction

in

expenses/Capital

Contributions

from

Adviser

Pursuant

to

undertakings

Prior

to

September

1,

2021,

Mellon

served

as

the

BNY

Mellon

High

Yield

Beta

ETF

sub-investment

adviser

and,

as

of

September

1,

2021,

INA

serves

as

the

BNY

Mellon

High

Yield

Beta

ETF

sub-investment

adviser

responsible

for

the

day-to-day

management

of

BNY

Mellon

High

Yield

Beta

ETF

portfolio.

Pursuant

to

a

sub-investment

advisory

agreement

between

Mellon

and

the

Adviser,

the

Adviser

pays

Mellon

a

monthly

fee

at

an

annual

percentage

of

the

value

of

each

fund's

average

daily

net

assets,

except

for

BNY

Mellon

High

Yield

Beta

ETF

which

previously

paid

Mellon

and

currently

pays

INA

a

monthly

fee

at

an

annual

percentage

of

the

value

of

the

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.

For

each

fund,

the

Adviser

will

pay

a

contractual

fee

rate

to

Mellon

and

INA

applicable

to

each

fund's

sub-investment

advisory

agreement,

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

Mellon

and

INA

fee

rate

applicable

to

each

fund's

sub-investment

advisory

agreement.

Sub-Investment

Advisory

Agreement

Fees

(b)

Each

fund

has

an

arrangement

with

the

custodian

whereby

the

funds

will

receive

interest

income

or

be

charged

overdraft

fees

when

cash

balances

are

maintained.

For

financial

reporting

purposes,

the

fund

includes

this

interest

income

and

overdraft

fees,

if

any,

as

interest

income

in

the

Statement

of

Operations.

The

table

below

summarized

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

(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,

2021.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

120

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

3,938

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

BNY

Mellon

High

Yield

Beta

ETF

-

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%

Management

fees

Less/Excess

Reimbursement

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

-

$

36

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

3,746

-

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

5,577

-

BNY

Mellon

International

Equity

ETF

2,241

-

BNY

Mellon

Emerging

Markets

Equity

ETF

3,602

(2)

BNY

Mellon

Core

Bond

ETF

-

1,590

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

2,124

-

BNY

Mellon

High

Yield

Beta

ETF

8,927

-

143

Purchases

and

Sales

TBA

Securities:

During

the

period

ended October

31,

2021,

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,

2021

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

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

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,

2021,

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 over-the-counter

(“OTC”) market

or

centrally

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.

Purchases

Sales

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

27,606,924

$

27,980,522

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

29,214,637

31,514,628

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

55,343,209

55,295,806

BNY

Mellon

International

Equity

ETF

7,071,811

8,753,607

BNY

Mellon

Emerging

Markets

Equity

ETF

13,353,131

6,886,459

BNY

Mellon

Core

Bond

ETF

150,988,467

103,054,105

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

14,523,955

13,935,489

BNY

Mellon

High

Yield

Beta

ETF

28,014,410

32,554,139

144

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

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

swaps

open

at

October

31,

2021

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,

2021

is

shown

below:

Statement

of

Assets

and

Liabilities

location:

(a)

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.

(b)

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 year

ended

October

31,

2021 is

shown

below:

Derivative

Assets

($)

Derivative

Liabilities

($)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

(a)

18,426

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

(a)

11,952

-

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

(a)

1,515

-

BNY

Mellon

International

Equity

ETF

Equity

risk

(a)

6,936

-

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(a)

793

-

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

(b)

3,078

-

Amount

of

realized

gain

(loss)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

37,793

-

37,793

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

6,008

-

6,008

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

15,550

-

15,550

BNY

Mellon

International

Equity

ETF

Equity

risk

25,344

-

25,344

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(25,016)

-

(25,016)

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

126,873

126,873

145

The following

table summarizes

the

average market

value of

derivatives

outstanding

during

the year

ended

October

31,

2021:

The following

table summarizes

the

average

notional

value of

derivatives

outstanding

during

the year ended

October

31,

2021:

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,

2021.

Accumulated

Net

Unrealized

Appreciation

(Depreciation)

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

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

18,426

-

18,426

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

11,952

-

11,952

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

1,515

-

1,515

BNY

Mellon

International

Equity

ETF

Equity

risk

19,440

-

19,440

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

2,087

-

2,087

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

19,814

19,814

Average

Market

Value

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

futures

$

230,797

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

futures

165,358

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

futures

120,600

BNY

Mellon

International

Equity

ETF

Equity

risk

futures

193,360

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

futures

138,619

Average

Notional

Value

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

swap

agreements

$

1,526,923

Cost

of

Investments

Gross

Appreciation

Gross

(Depreciation)

Net

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$325,163,852

$70,474,203

$(4,349,074)

$66,125,129

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

87,673,267

28,132,377

(2,142,023)

25,990,354

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

171,062,370

23,229,089

(8,813,966)

14,415,123

BNY

Mellon

International

Equity

ETF

86,536,403

14,636,244

(981,570)

13,654,674

BNY

Mellon

Emerging

Markets

Equity

ETF

30,086,363

10,229,029

(1,664,131)

8,564,898

BNY

Mellon

Core

Bond

ETF

206,456,631

795,828

(2,289,151)

(1,493,323)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

43,673,790

274,897

(252,696)

22,201

BNY

Mellon

High

Yield

Beta

ETF

46,708,927

1,805,367

(358,318)

1,447,049

146

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

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,

2021.

In-Kind

Transactions

Cost

of

Securities

Received

Value

of

Securities

Delivered

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

268,698,979

$

43,919,469

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

68,826,216

18,496,217

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

168,409,155

51,067,359

BNY

Mellon

International

Equity

ETF

61,743,418

1,584,955

BNY

Mellon

Emerging

Markets

Equity

ETF

-

6,582,334

BNY

Mellon

Core

Bond

ETF

112,668,598

10,363,689

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

15,058,374

-

BNY

Mellon

High

Yield

Beta

ETF

24,262,806

28,259,373

147

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Shareholders

of

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

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

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,

((collectively

referred

to

as

the

“Funds”),

(eight

of

the

funds

constituting

BNY

Mellon

ETF

Trust

(the

“Trust”)),

including

the

statements

of

investments,

as

of

October

31,

2021,

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

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

(eight

of

the

funds

constituting

BNY

Mellon

ETF

Trust)

at

October

31,

2021,

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,

2021,

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

20,

2021

Individual

fund

constituting

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

year

ended

October

31,

2021

For

the

year

ended

October

31,

2021

and

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

year

ended

October

31,

2021

For

the

year

ended

October

31,

2021

and

the

period

from

April

24,

2020

(commencement

of

operations)

through

October

31,

2020

148

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,

2021:

(a)

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

100.00%

93.52%

-%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

86.21%

80.35%

-%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

83.46%

84.56%

-%

BNY

Mellon

International

Equity

ETF

76.23%

-%

-%

BNY

Mellon

Emerging

Markets

Equity

ETF

49.04%

-%

-%

BNY

Mellon

Core

Bond

ETF

-%

-%

100.00%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-%

-%

100.00%

BNY

Mellon

High

Yield

Beta

ETF

-%

-%

76.90%

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

1,547,289

158,883

BNY

Mellon

Emerging

Markets

Equity

ETF

1,135,579

121,248

BNY

Mellon

Core

Bond

ETF

-

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

-

BNY

Mellon

High

Yield

Beta

ETF

-

-

149

INFORMATION

ABOUT

THE

APPROVAL

OF

THE

APPLICABLE

FUND’S

SUB-INVESTMENT

ADVISORY

AGREEMENT

(Unaudited)

At

a

meeting

of

the

BNY

Mellon

High

Yield

Beta

ETF’s

(the

“fund”)

Board

of

Trustees

held

on

May

17,

2021

(the

“Meeting”),

the

Board

discussed

with

representatives

of

the

Adviser

plans

to

realign

Mellon

Investments

Corporation’s

(“Mellon”)

fixed-

income

capabilities

with

Insight

North

America

LLC

(“INA”)

(the

“Firm

Realignment”),

which

was

scheduled

to

occur

in

the

third

quarter

of

2021

(the

“Effective

Date”).

The

Adviser

noted

that,

as

a

result

of

the

Firm

Realignment,

the

portfolio

managers

who

were

currently

responsible

for

managing

the

investments

of

the

fund

as

employees

of

Mellon

as

a

sub-investment

adviser

pursuant

to

a

sub-investment

advisory

agreement

with

the

Adviser

(the

“Current

Sub-Advisory

Agreement”),

would

become

employees

of

INA

as

of

the

Effective

Date.

Consequently,

the

Adviser

proposed

to

engage

INA

to

serve

as

the

fund’s

sub-investment

adviser,

pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

INA

(the

“New

Sub-Advisory

Agreement”),

to

be

effective

on

the

Effective

Date.

At

the

Meeting,

the

Adviser

recommended

the

approval

of

the

New

Sub-Advisory

Agreement,

pursuant

to

which

INA

would

serve

as

sub-investment

adviser

to

the

fund.

The

recommendation

for

the

approval

of

the

New

Sub-Advisory

Agreement

was

based

on

the

following

considerations,

among

others:

(i)

approval

of

the

New

Sub-Advisory

Agreement

would

permit

the

fund’s

current

portfolio

managers

to

continue

to

be

responsible

for

the

day-to-

day

management

of

the

fund’s

portfolio

after

the

Effective

Date

as

employees

of

INA;

(ii)

there

would

be

no

material

changes

to

the

fund’s

investment

objective,

strategies

or

policies,

and

no

reduction

in

the

nature

or

level

of

services

provided

to

the

fund;

(iii)

the

Adviser

(and

not

the

fund)

would

pay

INA

for

its

sub-

investment

advisory

services

and

the

rate

of

the

sub-investment

advisory

fee

payable

by

the

Adviser

to

INA

under

the

New

Sub-

Advisory

Agreement

would

be

the

same

as

that

currently

payable

by

the

Adviser

to

Mellon

under

the

Current

Sub-Advisory

Agreement;

and

(iv)

all

material

terms

and

conditions

of

the

New

Sub-Advisory

Agreement

were

substantially

identical

to

those

of

the

Current

Sub-Advisory

Agreement.

The

Board

also

considered

the

Adviser’s

stated

belief

that

there

were

no

material

changes

to

the

information

the

Board

had

previously

considered

at

a

meeting

on

February

5,

2020

(the

“15(c)

Meeting”),

at

which

the

Board

approved

the

Current

Sub-Advisory

Agreement

for

an

initial

two-year

term,

other

than

the

information

about

the

Firm

Realignment

and

INA.

At

the

Meeting,

the

Board,

none

of

whom

are

“interested

persons”

(as

defined

in

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”))

of

the

fund

(the

“Independent

Trustees”),

considered

and

approved

the

New

Sub-Advisory

Agreement.

In

determining

whether

to

approve

the

New

Sub-Advisory

Agreement

the

Board

considered

the

materials

prepared

by

the

Adviser

received

in

advance

of

the

Meeting

and

other

information

presented

at

the

Meeting,

which

included:

(i)

a

form

of

the

New

Sub-Advisory

Agreement;

(ii)

information

regarding

the

Firm

Realignment

and

how

it

is

expected

to

enhance

investment

capabilities;

(iii)

information

regarding

INA;

and

(iv)

an

opinion

of

counsel

that

the

proposed

changes

to

the

investment

advisory

arrangements

would

not

result

in

an

“assignment”

of

the

Current

Sub-Advisory

Agreement

under

the

1940

Act

and

the

Investment

Advisers

Act

of

1940,

as

amended,

and,

therefore,

did

not

require

the

approval

of

fund

shareholders.

The

Board

also

considered

the

substance

of

discussions

with

representatives

of,

and

information

provided

by,

the

Adviser

at

the

Meeting

and

the

15(c)

Meeting.

The

Board

was

provided

with

a

written

description

of

their

statutory

responsibilities

and

the

legal

standards

that

are

applicable

to

the

approval

of

investment

advisory

and

sub-investment

advisory

agreements,

and

was

advised

by

legal

counsel

through

the

process.

Nature,

Extent

and

Quality

of

Services

to

be

Provided

In

examining

the

nature,

extent

and

quality

of

the

services

that

were

expected

to

be

provided

by

INA

to

the

fund

under

the

New

Sub-Advisory

Agreement,

the

Board

considered:

(i)

INA’s

organization,

qualification

and

background,

as

well

as

the

qualifications

of

its

personnel;

(ii)

the

expertise

of

the

personnel

providing

portfolio

management

services,

which

would

remain

the

same

after

the

Effective

Date;

and

(iii)

the

investment

strategy

for

the

fund,

which

would

remain

the

same

after

the

Effective

Date.

The

Board

also

considered

the

review

process

undertaken

by

the

Adviser

and

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

sub-investment

advisory

services

expected

to

be

provided

to

the

fund

by

INA

after

the

Effective

Date.

Based

on

their

consideration

and

review

of

the

foregoing

information,

the

Board

concluded

that

the

nature,

extent

and

quality

of

the

sub-

investment

advisory

services

to

be

provided

by

INA

under

the

New

Sub-Advisory

Agreement,

as

well

as

INA’s

ability

to

render

such

services

based

on

its

resources

and

the

experience

of

the

investment

team,

which

will

include

the

fund’s

current

portfolio

managers,

were

adequate

and

appropriate

for

the

fund

in

light

of

the

fund’s

investment

objective,

and

supported

a

decision

to

approve

the

New

Sub-Advisory

Agreement.

Investment

Performance

The

Board

considered

information

provided

at

the

Meeting

regarding

the

fund’s

investment

performance.

In

particular,

the

Board

noted

the

indexed

investment

objective

of

the

fund

and

focused

on

the

extent

to

which

the

fund

achieved

its

objective.

The

Board

reviewed

information

regarding

the

fund’s

index

tracking.

The

Board

determined

that

the

fund’s

performance

supported

a

decision

to

approve

the

New

Sub-Advisory

Agreement.

Costs

of

Services

to

be

Provided

and

Profitability

The

Board

considered

the

proposed

fee

payable

under

the

New

Sub-Advisory

Agreement

(which

was

the

same

as

the

fee

payable

under

the

Current

Sub-Advisory

Agreement

that

the

Board

had

previously

considered

at

the

15(c)

Meeting),

noting

that

the

proposed

fee

would

be

paid

by

the

Adviser

and,

thus,

would

not

impact

the

fees

paid

by

the

fund.

The

Board

considered

the

fee

payable

to

INA

in

relation

to

the

fee

paid

to

the

Adviser

by

the

fund

and

the

respective

services

provided

by

INA

and

the

Adviser.

The

Board

recognized

that,

because

INA’s

fee

150

INFORMATION

ABOUT

THE

APPROVAL

OF

THE

APPLICABLE

FUND’S

SUB-INVESTMENT

ADVISORY

AGREEMENT

(Unaudited)

(continued)

would

be

paid

by

the

Adviser,

and

not

the

fund,

an

analysis

of

profitability

was

more

appropriate

in

the

context

of

the

Board’s

consideration

of

the

fund’s

Management

Agreement,

and

that

the

Board

had

received

and

considered

a

profitability

analysis

of

the

Adviser

and

certain

of

its

affiliates

at

the

15(c)

Meeting.

The

Board

concluded

that

the

proposed

fee

payable

to

INA

by

the

Adviser

was

reasonable.

Economies

of

Scale

to

be

Realized

The

Board

recognized

that,

because

the

fee

payable

to

INA

would

continue

to

be

paid

by

the

Adviser,

and

not

the

fund,

an

analysis

of

economies

of

scale

was

more

appropriate

in

the

context

of

the

Board’s

consideration

of

the

Management

Agreement,

which

had

been

done

at

the

15(c)

Meeting.

At

the

15(c)

Meeting,

the

Board

determined

the

economies

of

scale

which

may

accrue

to

the

Adviser

and

its

affiliates

in

connection

with

the

management

of

the

fund

had

been

adequately

considered

by

the

Adviser

in

connection

with

the

fee

rate

charged

to

the

fund

pursuant

to

the

Management

Agreement

and

that,

to

the

extent

in

the

future

it

were

determined

that

material

economies

of

scale

had

not

been

shared

with

the

fund,

the

Board

would

seek

to

have

those

economies

of

scale

shared

with

the

fund.

Other

Benefits

The

Board

also

considered

whether

there

were

any

ancillary

benefits

that

would

accrue

to

INA

as

a

result

of

its

relationship

with

the

fund,

and

such

ancillary

benefits,

if

any,

were

determined

to

be

reasonable.

Conclusion

After

full

consideration

of

the

factors

discussed

above,

with

no

single

factor

identified

as

being

of

paramount

importance,

the

Board,

all

of

whom

are

Independent

Trustees,

approved

the

New

Sub-Advisory

Agreement

for

the

fund

effective

as

of

the

Effective

Date.

151

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

Effective

April

9,

2020,

the

funds

adopted

a

liquidity

risk

management

program

(the

“Program”)

pursuant

to

the

requirements

of

Rule

22e-4

under

the

Investment

Company

Act

of

1940,

as

amended.

Rule

22e-4

requires

registered

open-end

funds,

including

exchange-traded

funds,

to

establish

liquidity

risk

management

programs

in

order

to

effectively

manage

fund

liquidity

and

shareholder

redemptions.

The

rule

is

designed

to

mitigate

the

risk

that

a

fund

could

not

meet

redemption

requests

without

significantly

diluting

the

interests

of

remaining

investors.

The

Board

has

appointed

BNY

Mellon

ETF

Investment

Adviser,

LLC,

the

investment

adviser

to

the

funds,

as

the

Program

Administrator.

The

rule

requires

each

fund

to

assess,

manage

and

review

its

liquidity

risk

at

least

annually,

considering

applicable

factors

such

as

investment

strategy

and

liquidity

during

normal

and

foreseeable

stressed

conditions,

including

whether

the

strategy

is

appropriate

for

an

open-end

fund

and

whether

the

fund

has

a

relatively

concentrated

portfolio

or

large

positions

in

particular

issuers.

Each

fund

must

also

assess

its

use

of

borrowings

and

derivatives,

short-

term

and

long-term

cash

flow

projections

in

normal

and

stressed

conditions,

holdings

of

cash

and

cash

equivalents,

and

borrowing

arrangements

and

other

funding

sources.

In

addition,

with

respect

to

an

exchange-traded

fund,

a

fund

must

assess

the

relationship

between

the

fund’s

portfolio

liquidity

and

the

way

in

which,

and

the

prices

and

spreads

at

which,

the

fund’s

shares

trade,

and

the

effect

of

the

composition

of

baskets

on

the

overall

liquidity

of

the

fund’s

portfolio.

The

rule

also

requires

funds

to

classify

each

of

their

investments

as

highly

liquid,

moderately

liquid,

less

liquid

or

illiquid

based

on

the

number

of

days

the

fund

expects

it

would

take

to

liquidate

the

investment,

and

to

review

these

classifications

at

least

monthly

or

more

often

under

certain

conditions.

Illiquid

investments

are

those

a

fund

does

not

expect

to

be

able

to

sell

or

dispose

of

within

seven

calendar

days

without

the

sale

or

disposition

significantly

changing

the

market

value

of

the

investment.

A

fund

is

prohibited

from

acquiring

an

investment

if,

after

the

acquisition,

its

holdings

of

illiquid

assets

will

exceed

15%

of

its

net

assets.

In

addition,

if

a

fund

permits

redemptions

in-kind,

the

rule

requires

the

fund

to

establish

redemption

in-kind

policies

and

procedures

governing

how

and

when

it

will

engage

in

such

redemptions.

Pursuant

to

the

rule’s

requirements,

the

Program

has

been

reviewed

and

approved

by

the

Board.

Furthermore,

at

its

October

2021

meeting,

the

Board

received

a

written

report

prepared

by

the

Program

Administrator,

for

the

period

April

9,

2020

to

September

30,

2021,

addressing

the

operation

of

the

Program,

assessing

the

Program’s

adequacy

and

effectiveness

and

describing

any

material

changes

made

to

the

Program.

Assessment

of

Program

In

the

opinion

of

the

Program

Administrator,

the

Program

approved

by

the

Board

continues

to

be

adequate

for

the

funds

and

the

Program

has

been

implemented

effectively.

The

Program

Administrator

has

monitored

each

fund’s

liquidity

risk

and

the

liquidity

classification

of

the

securities

held

by

the

funds

and

has

determined

that

the

Program

is

operating

effectively.

During

the

period

from

April

9,

2020

to

September

30,

2021,

there

were

no

material

changes

to

the

Program

and

no

material

liquidity

events

that

impacted

the

funds.

During

the

period,

each

fund

held

sufficient

highly

liquid

assets

to

meet

fund

redemptions.

Under

normal

expected

foreseeable

fund

redemption

forecasts

and

foreseeable

stressed

fund

redemption

forecasts,

the

Program

Administrator

believes

that

each

fund

maintains

sufficient

highly

liquid

assets

to

meet

expected

fund

redemptions.

152

BOARD

MEMBERS

INFORMATION

(Unaudited)

INDEPENDENT

BOARD

MEMBERS

J.

Charles

Cardona

(66)

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

and

Director

of

the

Distributor

(until

2016).

Other

Public

Company

Board

Memberships

During

Past

5

Years:

BNY

Mellon

Liquidity

Funds,

Director

(2004-Present)

and

Chairman

(2019-2021);

BNY

Mellon

Family

of

Funds,

Interested

Director

(2014-2018),

Independent

Director

(2019-

Present).

No.

of

Portfolios

for

which

Board

Member

Serves:

32,

including

23

managed

by

an

affiliate

of

the

Adviser

Kristen

M.

Dickey

(61)

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:

9

F.

Jack

Liebau,

Jr.

(58)

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:

9

Jill

I.

Mavro

(49)

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:

9

Kevin

W.

Quinn

(62)

Board

Member

Principal

Occupation

During

Past

5

Years:

Partner

at

PricewaterhouseCoopers,

LLC

(until

2019).

No.

of

Portfolios

for

which

Board

Member

Serves:

9

Stacy

L.

Schaus

(61)

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

(from

2019

until

2021);

Executive

Vice

President—

Defined

Contribution

Practice

Founder

at

PIMCO

Investment

Management

(until

2018).

No.

of

Portfolios

for

which

Board

Member

Serves:

9

153

OFFICERS

OF

THE

TRUST

(Unaudited)

DAVID

DIPETRILLO,

President

since

February

2020.

Vice

President

and

Director

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser

since

February

2021,

Head

of

North

America

Product,

BNY

Mellon

Investment

Management

since

January

2018,

Director

of

Product

Strategy,

BNY

Mellon

Investment

Management

from

January

2016

to

December

2017.

He

is

an

officer

of

57

investment

companies

(comprised

of

107

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

43

years

old

and

has

been

an

employee

of

BNY

Mellon

since

2005.

PETER

M.

SULLIVAN,

Chief

Legal

Officer

since

July

2021,

Vice

President

and

Assistant

Secretary

since

February

2020.

Chief

Legal

Officer

of

BNY

Mellon

Investment

Advisor

since

July

2021;

Associate

General

Counsel

of

BNY

Mellon

since

July

2021;

Senior

Managing

Counsel

of

BNY

Mellon

from

December

2020

to

July

2021;

Managing

Counsel

of

BNY

Mellon

from

March

2009

to

December

2020,

and

an

officer

of

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

53

years

old

and

has

been

an

employee

of

BNY

Mellon

since

April

2004.

JAMES

WINDELS,

Treasurer

since

February

2020.

Vice

President

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser

since

September

2020,

Director-BNY

Mellon

Fund

Administration,

and

an

officer

of

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

63

years

old

and

has

been

an

employee

of

the

Adviser

since

April

1985.

SARAH

S.

KELLEHER,

Vice

President

and

Secretary

since

February

2020.

Vice

President

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

since

February

2020;

Senior

Managing

Counsel

of

BNY

Mellon

since

September

2021;

Managing

Counsel

of

BNY

Mellon

from

December

2017

to

September

2021;

Senior

Counsel

of

BNY

Mellon

from

March

2013

to

December

2017.

She

is

an

officer

of

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

46

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,

Inc.,

and

an

officer

of

58

investment

companies

(comprised

of

129

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

December

1996.

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.

She

is

an

officer

of

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

31

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

58

investment

companies

(comprised

of

129

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

1990.

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

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

36

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

June

2019.

GAVIN

C.

REILLY,

Assistant

Treasurer

since

February

2020.

Tax

Manager-BNY

Mellon

Fund

Administration,

and

an

officer

of

58

investment

companies

(comprised

of

129

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

April

1991.

ROBERT

SALVIOLO,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration,

and

an

officer

of

58

investment

companies

(comprised

of

129

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

June

1989.

ROBERT

SVAGNA,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration,

and

an

officer

of

58

investment

companies

(comprised

of

129

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

November

1990.

NATALYA

ZELENSKY,

Vice

President

and

Assistant

Secretary

since

February

2020

and

Chief

Compliance

Officer

since

August

2021.

Chief

Compliance

Officer

since

August

2021

and

Vice

President

since

February

2020

of

BNY

Mellon

ETF

Investment

Advisor,

LLC;

Chief

Compliance

Officer

since

August

2021

and

Vice

President

and

Assistant

Secretary

since

February

2020

of

BNY

Mellon

ETF

Trust;

Managing

Counsel

of

BNY

Mellon

from

December

2019

to

August

2021;

Counsel

of

BNY

Mellon

from

May

2016

to

December

2019;

Assistant

Secretary

of

BNY

Mellon

Investment

Adviser,

Inc.

from

April

2018

to

August

2021;

She

is

an

officer

of

58

investment

companies

(comprised

of

129

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

36

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

May

2016.

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.

She

is

an

officer

of

50

investment

companies

(comprised

of

121

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

53

years

old

and

has

been

an

employee

of

the

Distributor

since

1997.

For

More

Information

2021

BNY

Mellon

Securities

Corporation

ETFAR1021

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

daily.

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

www.sec.gov

.

Additionally,

each

fund

makes

its

portfolio

holdings

for

the

first

and

third

quarters

of

the

most

recent

fiscal

year

available

at

https://

im.bnymellon.com/etfliterature

.

Each

fund

’

s

complete

schedule

of

portfolio

holdings,

as

filed

on

Form

N-PORT,

can

also

be

obtained

without

charge,

upon

request,

by

calling

1-833-383-2696.

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

www.

im.bnymellon.com

and

on

the

SEC’s

website

at

www.sec.gov

.

The

description

of

the

policies

and

procedures

is

also

available

without

charge,

upon

request,

by

calling

1-833-383-2696.

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

Insight

North

America

LLC

200

Park

Avenue,

7th

Floor

New

York,

NY

10166

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

Short

Duration

Corporate

Bond

ETF

BKSB

BNY

Mellon

High

Yield

Beta

ETF

BKHY

Item 1. Reports to Stockholders (cont.).

(b)        Not applicable.

Item 2. Code of Ethics.

(a)        As of the period ended October 31, 2021 (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 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 each of the last two fiscal years

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 those fiscal years were $156,000

in 2020 and $148,500 in 2021. 

(b)   Audit-Related Fees

The aggregate fees billed for each of the last two fiscal years 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 were $48,000 in 2020 and $48,000 in 2021. These services consisted of security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended.

(c)   Tax Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered to the Registrant by the principal accountant for tax compliance, tax advice and tax planning were $30,400 in 2020 and $30,400 in 2021. 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

.

(d)   All Other Fees

The aggregate fees billed for each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 in 2020 and $0 in 2021.

(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 each of the last two fiscal years of the Registrant were $69,187 in 2020 and $445,127 in 2021.

(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(a) 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 J. DiPetrillo                                     
                                           David DiPetrillo, President

                                           (Principal Executive Officer)

Date            12/17/2021                 

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 J. DiPetrillo                                     
                                           David DiPetrillo, President

                                           (Principal Executive Officer)

Date            12/17/2021                 

By (Signature and Title)*   /s/ James Windels                                          
                                           James Windels, Treasurer

                                           (Principal Financial and Accounting Officer)

Date            12/17/2021                 

*

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