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:  April 30, 2024

The following N-CSR relates only to the Registrant's series listed below and does not relate to any series of the Registrant with a different fiscal year end and, therefore, different N-CSR reporting requirements.  A separate N-CSR will be filed for any series with a different fiscal year end, as appropriate.

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 High Yield Beta ETF

BNY Mellon Concentrated International ETF

BNY Mellon Global Infrastructure Income ETF

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

SEMI-ANNUAL

REPORT

April

30,

2024

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

High

Yield

Beta

ETF

IMPORTANT

NOTICE

–

UPCOMING

CHANGES

TO

ANNUAL

AND

SEMI-ANNUAL

REPORTS 

The

Securities

and

Exchange

Commission

(the

“SEC”)

has

adopted

rule

and

form

amendments

that

will

result

in

changes

to

the

design

and

delivery

of

annual

and

semi-annual

fund

reports

(“Reports”).

Beginning

in

July

2024,

Reports

will

be

streamlined

to

highlight

key

information.

Certain

information

currently

included

in

Reports,

including

financial

statements,

will

no

longer

appear

in

the

Reports

but

will

be

available

online,

delivered

free

of

charge

to

shareholders

upon

request,

and

filed

with

the

SEC. 

If

you

previously

elected

to

receive

the

fund’s

Reports

electronically,

you

will

continue

to

do

so.

Otherwise,

you

will

receive

paper

copies

of

the

funds’

re-designed

Reports

by

USPS

mail

in

the

future.

If

you

would

like

to

receive

the

funds’

Reports

(and/or

other

communications)

electronically

instead

of

by

mail,

please

contact

your

financial

advisor.

Contents

The

Funds

Discussion

of

Funds’

Performance

3

Understanding

Your

Fund’s

Expenses

17

Statements

of

Investments

18

Statements

of

Assets

and

Liabilities

147

Statements

of

Operations

150

Statements

of

Changes

in

Net

Assets

153

Financial

Highlights

157

Notes

to

Financial

Statements

164

Information

About

the

Review

and

Renewal

of

Each

Fund’s

Management

and

Sub-Investment

Advisory

Agreements

177

Liquidity

Risk

Management

Program

179

FOR

MORE

INFORMATION

Back

Cover

Save

time.

Save

paper.

View

your

next

shareholder

report

online

as

soon

as

it’s

available.

Log

into

www.

im.bnymellon.com

and

sign

up

for

eCommunications.

It’s

simple

and

only

takes

a

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

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll

and

Marlene

Walker

Smith,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

21.25%.

1

In

comparison,

the

Solactive

GBS

United

States

500

Index

TR

(the

“Index”),

the

fund’s

benchmark,

returned

21.30%

for

the

same

period.

2

In

comparison,

the

Morningstar

®

US

Large

Cap

Index

SM

,

the

fund’s

former

benchmark,

returned

21.27%

for

the

same

period.

3,4

Large-cap

equities

gained

ground

during

the

reporting

period

as

inflationary

pressures

eased,

the

U.S.

Federal

Reserve

(the

“Fed”)

reduced

the

pace

of

interest-rate

hikes,

and

economic

growth

remained

positive.

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.

Effective

November

15,

2023,

the

benchmark

for

the

fund

has

changed

from

Morningstar

®

US

Large

Cap

Index

SM

to

Solactive

GBS

United

States

500

Index

TR

in

connection

with

a

change

to

the

fund’s

investment

objective.

5

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index

5

.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Index.

The

Index

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets.

The

Index’s

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

425

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

426

to

600

are

selected

until

the

total

number

of

companies

in

the

Index

equals

500.

If

the

total

number

of

companies

is

below

500,

the

highest-ranking

remaining

securities

are

selected

until

500

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Economic

Growth

Drives

Equity

Gains

Large-cap

U.S.

equities

gained

ground

during

the

reporting

period

as

the

U.S.

Federal

Reserve

(the

“Fed”)

left

the

federal

funds

rate

unchanged

and

forecast

the

possibility

of

rate

cuts

sometime

in

2024.

Inflation

proved

sticky,

remaining

in

a

range

of

3.1%−3.5%

throughout

the

period

despite

the

highest

interest

rates

in

decades.

Nevertheless,

economic

growth

remained

relatively

strong,

bolstered

by

robust

consumer

spending,

high

employment

levels

and

healthy

corporate

profits.

Investors

appeared

to

accept

the

prospect

of

rates

remaining

higher

for

longer,

bidding

large-cap

share

prices

to

new

records.

At

the

same

time,

market

strength

broadened

beyond

the

narrow

group

of

artificial

intelligence

(“AI”)-related

mega-cap

names

that

drove

most

of

the

market’s

gains

early

in

the

period.

Although

growth

stocks

continued

to

outperform

their

value-oriented

counterparts

for

the

reporting

period

as

a

whole,

the

margin

between

the

two

investment

styles

diminished

significantly,

with

all

industry

sectors

delivering

positive

returns.

Cyclically

Sensitive

Stocks

Lead

Gains

Communication

services

stocks

produced

the

strongest

returns

in

the

Index,

led

by

fast-growing,

technology-centric

social

media

and

entertainment

companies,

such

as

Spotify

Technology

SA,

Meta

Platforms,

Inc.

and

The

Walt

Disney

Company.

The

financial

sector

benefited

from

high

but

steady

interest

rates,

robust

capital

markets

activity

and

a

stable

regulatory

environment,

led

by

gains

in

shares

of

Coinbase

Global,

Inc.,

KKR

&

Co.,

Inc.

and

American

Express

Co.

Industrials

outperformed

as

well,

with

top

performers

including

General

Electric

Co.,

Eaton

Corp.

PLC.

and

Vertiv

Holdings

Co.

Conversely,

the

energy

sector

lagged

due

to

weak

oil

and

gas

prices,

undermining

returns

from

companies

such

as

Schlumberger

NV,

Cheniere

Energy,

Inc.

and

Baker

Hughes

Co.

The

interest-rate-sensitive

real

estate

sector

was

pressured

by

high

rates

and

fears

of

an

economic

slowdown,

while

companies

such

as

SBA

Communications

Corp.,

Sun

Communities,

Inc.

and

Weyerhaeuser

Co.

also

faced

competitive

challenges

that

drove

shares

lower.

Finally,

utilities

proved

weak

in

an

environment

of

high

interest

rates

and

investor

indifference

toward

defensive,

dividend-paying

shares.

Notable

underperformers

included

Xcel

Energy,

Inc.,

American

Water

Works

Co.,

Inc.

and

Exelon

Corp.

The

fund’s

use

of

derivatives

during

the

period

was

limited

to

futures

contracts

employed

solely

to

offset

the

impact

of

cash

positions,

which

the

fund

holds

pursuant

to

its

operations,

but

the

Index

does

not.

Such

holdings

helped

the

fund

more

closely

match

the

performance

of

the

Index.

Replicating

the

Performance

of

the

Index

As

of

April

30,

2024,

the

U.S.

economy

remains

robust.

While

persistent

inflation

has

delayed

the

prospect

of

interest-rate

cuts

until

later

this

year,

if

not

beyond,

markets

appear

to

have

readjusted

to

the

prevailing,

higher-for-longer

environment.

The

impact

of

the

strong

U.S.

dollar

on

exports

remains

a

concern.

However,

in

the

absence

of

unexpected

economic

shocks,

we

expect

market

volatility

to

decrease

and

inflation

to

gradually

ease,

potentially

setting

the

stage

for

additional

market

gains.

However

developments

unfold,

in

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

4

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

of

shares

outstanding.

Exchange-Traded

Funds

(“ETFs”)

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

FactSet.

—

The

Solactive

GBS

United

States

500

Index

TR

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets.

The

Index's

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

425

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

426

to

600

are

selected

until

the

total

number

of

companies

in

the

Index

equals

500.

If

the

total

number

of

companies

is

below

500,

the

highest-ranking

remaining

securities

are

selected

until

500

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Investors

cannot

invest

directly

in

any

index.

3

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.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

5

Effective

November

15,

2023,

the

fund

changed

its

investment

objective.

Please

see

Note

1

and

the

fund’s

prospectus

for

more

details.

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.

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.

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.

The

BNY

Mellon

ETFs

are

not

sponsored,

promoted,

sold

or

supported

in

any

other

manner

by

Solactive

AG

nor

does

Solactive

AG

offer

any

express

or

implicit

guarantee

or

assurance

either

with

regard

to

the

results

of

using

the

Index

and/or

Index

trade

mark

or

the

Index

Price

at

any

time

or

in

any

other

respect.

The

Index

is

calculated

and

published

by

Solactive

AG.

Solactive

AG

uses

its

best

efforts

to

ensure

that

the

Index

is

calculated

correctly.

Irrespective

of

its

obligations

towards

BNY

Mellon,

Solactive

AG

has

no

obligation

to

point

out

errors

in

the

Index

to

third

parties

including

but

not

limited

to

investors

and/or

financial

intermediaries

of

the

BNY

Mellon

ETFs.

Neither

publication

of

the

Index

by

Solactive

AG

nor

the

licensing

of

the

Index

or

Index

trade

mark

for

the

purpose

of

use

in

connection

with

the

BNY

Mellon

ETFs

constitutes

a

recommendation

by

Solactive

AG

to

invest

capital

in

said

financial

instrument

nor

does

it

in

any

way

represent

an

assurance

or

opinion

of

Solactive

AG

with

regard

to

any

investment

in

the

BNY

Mellon

ETFs.

5

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll

and

Marlene

Walker

Smith,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

21.71%.

1

In

comparison,

the

Solactive

GBS

United

States

400

Index

TR

(the

“Index”),

the

fund’s

benchmark,

returned

22.37%

for

the

same

period.

2

In

comparison,

the

Morningstar

®

US

Mid

Cap

Index

SM

,

the

fund’s

former

benchmark,

returned

22.37%

for

the

same

period.

3,4

U.S.

equities

gained

ground

during

the

reporting

period

as

inflationary

pressures

eased,

interest

rates

plateaued

and

economic

growth

remained

positive.

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.

Effective

November

15,

2023,

the

benchmark

for

the

fund

has

changed

from

Morningstar

®

US

Mid

Cap

Index

SM

to

Solactive

GBS

United

States

400

Index

TR

in

connection

with

a

change

to

the

fund’s

investment

objective.

5

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

Index.

The

Index

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

400

mid-capitalization

companies

listed

on

U.S.

stock

markets.

The

Index’s

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Solactive

GBS

United

States

500

Index

TR,

an

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets,

are

not

eligible

for

inclusion.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

340

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

341

to

480

are

selected

until

the

total

number

of

companies

in

the

Index

equals

400.

If

the

total

number

of

companies

is

below

400,

the

highest-ranking

remaining

securities

are

selected

until

400

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Economic

Growth

Drives

Equity

Gains

U.S.

equities

gained

ground

during

the

reporting

period

as

the

U.S.

Federal

Reserve

(the

“Fed”)

left

the

federal

funds

rate

unchanged

and

forecast

the

possibility

of

rate

cuts

sometime

in

2024.

Inflation

proved

sticky,

remaining

in

a

range

of

3.1%−3.5%

throughout

the

period

despite

the

highest

interest

rates

in

decades.

Nevertheless,

economic

growth

remained

relatively

strong,

bolstered

by

robust

consumer

spending,

high

employment

levels

and

healthy

corporate

profits.

Investors

appeared

to

accept

the

prospect

of

rates

remaining

higher

for

longer,

bidding

share

prices

to

new

records.

At

the

same

time,

market

strength

broadened

beyond

the

narrow

group

of

artificial

intelligence

(“AI”)-related

mega-cap

names

that

drove

most

of

the

market’s

gains

early

in

the

period.

Although

growth

stocks

continued

to

outperform

their

value-oriented

counterparts

for

the

reporting

period

as

a

whole,

the

margin

between

the

two

investment

styles

diminished

significantly.

Mid-cap

stocks

generally

matched

or

exceeded

the

gains

of

large

caps

after

underperforming

by

a

significant

margin

during

the

prior

reporting

period.

Utility

and

Growth-Oriented

Technology

Shares

Outperform

The

utilities

sector

benefited

from

its

defensive

characteristics

at

a

time

of

volatility

and

uncertainty

relating

to

the

strength

of

the

economy,

while

utilities

focusing

on

the

transition

to

renewable

energy

sources,

such

as

Vistra

Corp.,

NRG

Energy,

Inc.

and

The

AES

Corporation,

performed

particularly

well.

Information

technology

companies

leveraged

to

advances

in

AI

delivered

notably

strong

returns,

led

by

high

performance

server

manufacturer

Super

Micro

Computer,

Inc.

,

AI-related

analytics,

software

and

services

provider

MicroStrategy,

Inc.,

and

software-

based

advertising

platform

AppLovin

Corp.

In

consumer

discretionary,

names

benefiting

from

robust

personal

spending

included

Carvana

Co.,

Williams-Sonoma,

Inc.

and

DICK’S

Sporting

Goods,

Inc.

Conversely,

the

communication

services

sector

lagged

due

to

increased

competition,

rising

operational

costs

and

regulatory

challenges.

Notably

weak

performers

included

Liberty

Broadband

Corp.,

Roku,

Inc.

and

Match

Group,

Inc.

The

energy

sector

came

under

pressure

from

weak

oil

and

gas

prices,

undermining

returns

from

companies

such

as

New

Fortress

Energy,

Inc.,

Transocean

Ltd.

and

APA

Corp.

Finally,

the

interest-rate-sensitive

real

estate

sector

underperformed

in

response

to

high

interest

rates

and

fears

of

an

economic

slowdown,

while

companies

such

as

Americold

Realty

Trust,

Inc.,

Ryman

Hospitality

Properties,

Inc.

and

Equity

LifeStyle

Properties,

Inc.

also

faced

competitive

challenges

that

drove

shares

lower.

The

fund’s

use

of

derivatives

during

the

period

was

limited

to

futures

contracts

employed

solely

to

offset

the

impact

of

cash

positions,

which

the

fund

holds

pursuant

to

its

operations,

but

the

Index

does

not.

Such

holdings

helped

the

fund

more

closely

match

the

performance

of

the

Index.

Replicating

the

Performance

of

the

Index

As

of

April

30,

2024,

the

U.S.

economy

remains

robust.

While

persistent

inflation

has

delayed

the

prospect

of

interest-rate

cuts

until

later

this

year,

if

not

beyond,

markets

appear

to

have

readjusted

to

the

prevailing,

higher-for-longer

environment.

The

impact

of

the

strong

U.S.

dollar

on

exports

remains

a

concern.

However,

in

the

absence

of

unexpected

economic

shocks,

we

expect

market

volatility

to

decrease

and

inflation

to

gradually

ease,

potentially

setting

the

stage

for

additional

market

gains.

6

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

However

developments

unfold,

in

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

FactSet.

—

The

Solactive

GBS

United

States

400

Index

TR

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

400

mid-

capitalization

companies

listed

on

U.S.

stock

markets.

The

Index’s

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Solactive

GBS

United

States

500

Index

TR,

an

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets,

are

not

eligible

for

inclusion.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

340

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

341

to

480

are

selected

until

the

total

number

of

companies

in

the

Index

equals

400.

If

the

total

number

of

companies

is

below

400,

the

highest-ranking

remaining

securities

are

selected

until

400

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Investors

cannot

invest

directly

in

any

index.

3

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.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

5

Effective

November

15,

2023,

the

fund

changed

its

investment

objective.

Please

see

Note

1

and

the

fund’s

prospectus

for

more

details.

Please

note:

the

position

in

any

security

highlighted

with

italicized

typeface

was

sold

during

the

reporting

period.

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.

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.

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.

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.

The

BNY

Mellon

ETFs

are

not

sponsored,

promoted,

sold

or

supported

in

any

other

manner

by

Solactive

AG

nor

does

Solactive

AG

offer

any

express

or

implicit

guarantee

or

assurance

either

with

regard

to

the

results

of

using

the

Index

and/or

Index

trade

mark

or

the

Index

Price

at

any

time

or

in

any

other

respect.

The

Index

is

calculated

and

published

by

Solactive

AG.

Solactive

AG

uses

its

best

efforts

to

ensure

that

the

Index

is

calculated

correctly.

Irrespective

of

its

obligations

towards

BNY

Mellon,

Solactive

AG

has

no

obligation

to

point

out

errors

in

the

Index

to

third

parties

including

but

not

limited

to

investors

and/or

financial

intermediaries

of

the

BNY

Mellon

ETFs.

Neither

publication

of

the

Index

by

Solactive

AG

nor

the

licensing

of

the

Index

or

Index

trade

mark

for

the

purpose

of

use

in

connection

with

the

BNY

Mellon

ETFs

constitutes

a

recommendation

by

Solactive

AG

to

invest

capital

in

said

financial

instrument

nor

does

it

in

any

way

represent

an

assurance

or

opinion

of

Solactive

AG

with

regard

to

any

investment

in

the

BNY

Mellon

ETFs.

7

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll

and

Marlene

Walker

Smith,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

18.53%.

1

In

comparison,

the

Solactive

GBS

United

States

600

Index

TR

(the

“Index”),

the

fund’s

benchmark,

produced

a

return

of

18.89%

for

the

same

period.

2

In

comparison,

the

Morningstar

®

US

Small

Cap

Index

SM

,

the

fund’s

former

benchmark,

produced

a

return

of

18.89%

for

the

same

period.

3,4

U.S.

equities

gained

ground

during

the

reporting

period

as

inflationary

pressures

eased,

interest

rates

plateaued

and

economic

growth

remained

positive.

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.

Effective

November

15,

2023

,

the

benchmark

for

the

fund

has

changed

from

Morningstar

®

US

Small

Cap

Index

SM

to

Solactive

GBS

United

States

600

Index

TR

in

connection

with

a

change

to

the

fund’s

investment

objective.

5

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

Index.

The

Index

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

600

small-capitalization

companies

listed

on

U.S.

stock

markets.

The

Index’s

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Solactive

GBS

United

States

500

Index

TR,

an

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets,

or

the

Solactive

GBS

United

States

400

Index

TR,

an

index

designed

to

measure

the

performance

of

400

mid-capitalization

companies

listed

on

U.S.

stock

markets,

are

not

eligible

for

inclusion.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

510

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

511

to

720

are

selected

until

the

total

number

of

companies

in

the

Index

equals

600.

If

the

total

number

of

companies

is

below

600,

the

highest-ranking

remaining

securities

are

selected

until

600

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Economic

Growth

Drives

Equity

Gains

U.S.

equities

gained

ground

during

the

reporting

period

as

the

U.S.

Federal

Reserve

(the

“Fed”)

left

the

federal

funds

rate

unchanged

and

forecast

the

possibility

of

rate

cuts

sometime

in

2024.

Inflation

proved

sticky,

remaining

in

a

range

of

3.1%−3.5%

throughout

the

period

despite

the

highest

interest

rates

in

decades.

Nevertheless,

economic

growth

remained

relatively

strong,

bolstered

by

robust

consumer

spending,

high

employment

levels

and

healthy

corporate

profits.

Investors

appeared

to

accept

the

prospect

of

rates

remaining

higher

for

longer,

bidding

share

prices

to

new

records.

At

the

same

time,

market

strength

broadened

beyond

the

narrow

group

of

artificial

intelligence

(“AI”)-related

mega-cap

names

that

drove

most

of

the

market’s

gains

early

in

the

period.

Although

growth

stocks

continued

to

outperform

their

value-oriented

counterparts

for

the

reporting

period

as

a

whole,

the

margin

between

the

two

investment

styles

diminished

significantly.

Small-cap

stocks

moderately

lagged

the

gains

of

large-cap

stocks

after

underperforming

by

a

more

significant

margin

during

the

prior

reporting

period.

Cyclically

Sensitive

Sectors

Outperform

Sectors

leveraged

to

U.S.

economic

growth,

including

industrials,

consumer

discretionary

and

financials

performed

relatively

well

during

the

reporting

period.

Leading

industrial

stocks

included

aviation

and

offshore

energy

equipment

company

FTAI

Aviation,

building

products

provider

The

AZEK

Company

and

HVAC

specialist

AAON.

In

consumer

discretionary,

top

performers

included

housing

products

manufacturer

Installed

Building

Products,

restaurant

chain

CAVA

Group

and

vehicle

heating

equipment

maker

Modine

Manufacturing.

In

the

financial

space,

notably

strong

stocks

included

digital

commerce

company

Affirm

Holdings

,

retail

annuities

provider

Jackson

Financial

and

private

education

loan

originator

SLM.

Conversely,

the

energy

sector

came

under

pressure

from

weak

oil

and

gas

prices,

undermining

returns

from

companies

such

as

Kosmos

Energy,

Excelerate

Energy

and

Comstock

Resources.

Utilities

stocks

faced

challenges

related

to

high

interest

rates

and

investors’

preference

for

growth-oriented

shares.

Notable

underperformers

included

SJW

Group,

PNM

Resources

and

American

States

Water.

Finally,

the

communication

services

sector

lagged

the

Index

due

to

increased

competition,

rising

operational

costs

and

regulatory

challenges.

Particularly

weak

performers

included

AMC

Entertainment

Holdings

,

Integral

Ad

Science

Holding

and

Cable

One.

The

fund’s

use

of

derivatives

during

the

period

was

limited

to

futures

contracts

employed

solely

to

offset

the

impact

of

cash

positions,

which

the

fund

holds

pursuant

to

its

operations,

but

the

Index

does

not.

Such

holdings

helped

the

fund

more

closely

match

the

performance

of

the

Index.

Replicating

the

Performance

of

the

Index

As

of

April

30,

2024,

the

U.S.

economy

remains

robust.

While

persistent

inflation

has

delayed

the

prospect

of

interest-rate

cuts

until

later

this

year,

if

not

beyond,

markets

appear

to

have

8

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

readjusted

to

the

prevailing,

higher-for-longer

environment.

The

impact

of

the

strong

U.S.

dollar

on

exports

remains

a

concern.

However,

in

the

absence

of

unexpected

economic

shocks,

we

expect

market

volatility

to

decrease

and

inflation

to

gradually

ease,

potentially

setting

the

stage

for

additional

market

gains.

However

developments

unfold,

in

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

FactSet.

—

The

Solactive

GBS

United

States

600

Index

TR

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

600

small-

capitalization

companies

listed

on

U.S.

stock

markets.

The

Index's

universe

of

eligible

securities

includes

common

stock

and

shares

of

real

estate

investment

trusts

(REITs)

listed

on

the

New

York

Stock

Exchange,

NYSE

Market

LLC,

NYSE

Arca,

NASDAQ,

Investors

Exchange,

or

BATS

Exchange,

traded

in

U.S.

dollars,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Solactive

GBS

United

States

500

Index

TR,

an

index

designed

to

measure

the

performance

of

500

of

the

largest

companies

listed

on

U.S.

stock

markets,

or

the

Solactive

GBS

United

States

400

Index

TR,

an

index

designed

to

measure

the

performance

of

400

mid-capitalization

companies

listed

on

U.S.

stock

markets,

are

not

eligible

for

inclusion.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order.

All

securities

ranked

in

the

top

510

are

selected

for

inclusion

in

the

Index

and

current

Index

constituents

with

a

rank

from

511

to

720

are

selected

until

the

total

number

of

companies

in

the

Index

equals

600.

If

the

total

number

of

companies

is

below

600,

the

highest-ranking

remaining

securities

are

selected

until

600

is

reached.

The

Index

reconstitutes

quarterly

in

February,

May,

August,

and

November.

Investors

cannot

invest

directly

in

any

index.

3

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.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

5

Effective

November

15,

2023,

the

fund

changed

its

investment

objective.

Please

see

Note

1

and

the

fund’s

prospectus

for

more

details.

Please

note:

the

position

in

any

security

highlighted

with

italicized

typeface

was

sold

during

the

reporting

period.

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.

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.

The

prices

of

small

company

stocks

tend

to

be

more

volatile

than

the

prices

of

large

company

stocks,

mainly

because

these

companies

have

less

established

and

more

volatile

earnings

histories.

They

also

tend

to

be

less

liquid

than

larger

company

stocks.

The

fund

may,

but

is

not

required,

to

use

derivative

instruments.

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.

The

BNY

Mellon

ETFs

are

not

sponsored,

promoted,

sold

or

supported

in

any

other

manner

by

Solactive

AG

nor

does

Solactive

AG

offer

any

express

or

implicit

guarantee

or

assurance

either

with

regard

to

the

results

of

using

the

Index

and/or

Index

trade

mark

or

the

Index

Price

at

any

time

or

in

any

other

respect.

The

Index

is

calculated

and

published

by

Solactive

AG.

Solactive

AG

uses

its

best

efforts

to

ensure

that

the

Index

is

calculated

correctly.

Irrespective

of

its

obligations

towards

BNY

Mellon,

Solactive

AG

has

no

obligation

to

point

out

errors

in

the

Index

to

third

parties

including

but

not

limited

to

investors

and/or

financial

intermediaries

of

the

BNY

Mellon

ETFs.

Neither

publication

of

the

Index

by

Solactive

AG

nor

the

licensing

of

the

Index

or

Index

trade

mark

for

the

purpose

of

use

in

connection

with

the

BNY

Mellon

ETFs

constitutes

a

recommendation

by

Solactive

AG

to

invest

capital

in

said

financial

instrument

nor

does

it

in

any

way

represent

an

assurance

or

opinion

of

Solactive

AG

with

regard

to

any

investment

in

the

BNY

Mellon

ETFs.

9

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll

and

Marlene

Walker

Smith,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

International

Equity

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

18.47%.

1

This

compares

with

a

13.12%

total

return

for

the

fund’s

benchmark,

the

Solactive

GBS

Developed

Markets

ex

United

States

Large

&

Mid

Cap

USD

Index

NTR

(the

“Index”),

during

the

same

period.

2

In

comparison,

the

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

,

the

fund’s

former

benchmark,

returned

18.85%

for

the

same

period.

3,4

International

markets

gained

ground

during

the

reporting

period

as

economic

growth

remained

generally

positive,

inflation

eased

and

central

banks

slowed

or

paused

monetary

tightening

policies.

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.

Effective

November

15,

2023,

the

benchmark

for

the

fund

has

changed

from

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

to

Solactive

GBS

Developed

Markets

ex

United

States

Large

Cap

&

Mid

Cap

USD

Index

NTR

in

connection

with

a

change

to

the

fund’s

investment

objective.

5

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

Index,

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

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-

and

mid-capitalization

companies.

The

Index’s

universe

of

eligible

securities

includes

equity

securities

issued

by

developed

market

companies

(excluding

the

United

States),

listed

on

a

developed

market

exchange,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Index

may

be

denominated

in

foreign

currencies.

To

determine

if

a

company

is

a

developed

market

company,

the

Index

considers

the

company’s

country

of

primary

listing,

incorporation,

domicile,

and

risk.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order

and

securities

representing

approximately

the

top

85%

free

float

market

capitalization

of

each

developed

market

country

are

included

in

the

Index.

As

of

December

31,

2023,

the

Index

considers

the

following

countries

to

be

developed

market

countries

(excluding

the

United

States):

Australia,

Austria,

Belgium,

Canada,

Denmark,

Finland,

France,

Germany,

Hong

Kong,

Ireland,

Israel,

Italy,

Japan,

Netherlands,

New

Zealand,

Norway,

Poland,

Portugal,

Singapore,

Spain,

Sweden,

Switzerland,

and

United

Kingdom.

The

Index

reconstitutes

semi-annually

in

May

and

November.

Equities

Gain

Ground

as

Inflation

Eases,

and

Economic

Growth

Remains

Positive

International

developed-markets

equities

climbed

during

the

reporting

period

as

interest-rate

hikes

implemented

by

central

banks

gained

traction

in

the

fight

against

inflation.

In

the

eurozone,

inflation

declined

to

2.4%

in

November

2023,

down

from

a

peak

of

over

10%

a

year

earlier.

After

climbing

back

to

2.9%

in

December,

it

eased

again

over

the

ensuing

months,

once

more

reaching

2.4%

as

of

the

end

of

the

reporting

period.

Most

other

developed

economies

experienced

similar

trends,

prompting

central

banks

to

pause

or

slow

the

pace

of

interest-rate

hikes

designed

to

combat

inflation.

At

the

same

time,

most

developed

economies

continued

to

produce

positive

growth

despite

high

interest

rates.

Stocks

generally

responded

positively

to

this

economic

backdrop,

with

the

strongest

returns

seen

in

cyclical,

growth-oriented

sectors,

including

information

technology,

industrials

and

financials.

Conversely,

interest-

rate-sensitive

and

traditionally

defensive

sectors

lagged,

with

consumer

staples

and

utilities

trailing

the

Index

average

by

a

significant

margin.

The

energy

sector

fared

worst,

hurt

by

falling

oil

and

gas

prices,

as

well

as

geopolitical

challenges.

Cyclical

Shares

Lead

Markets

Higher

Better-than-expected

global

economic

growth

supported

the

performance

of

information

technology,

industrials

and

financials

companies.

On

a

country

basis,

returns

from

The

Netherlands

outperformed

the

Index

by

the

widest

margin,

bolstered

by

gains

in

companies

such

as

payments

platform

provider

Adyen

NV,

semiconductor

company

ASM

International

NV

and

semiconductor

equipment

maker

ASML

Holding

NV.

Ireland

was

the

next-strongest

performing

market,

led

by

packaging

and

container

manufacturer

Smurfit

Kappa

Group

PLC,

construction

and

building

products

maker

Kingspan

Group

PLC,

and

sports

betting

and

gaming

company

Flutter

Entertainment

PLC

.

In

Israel,

top

performers

included

Teva

Pharmaceuticals

Industries

Ltd.,

real

estate

services

provider

Azrieli

Group

Ltd.

and

cloud-based

web

development

platform

Wix.com

Ltd.

Conversely,

the

weakest-performing

markets

included

Hong

Kong,

Portugal

and

Norway.

Many

Hong

Kong

companies

were

undermined

by

disappointing

growth

in

China.

Notable

underperformers

included

real

estate

companies

New

World

Development

and

Hang

Lung

Group

Properties

Ltd.,

as

well

as

casino

and

resort

operator

Galaxy

Entertainment

Group

Ltd.

In

Portugal,

significantly

underperforming

holdings

included

renewable

utility

EDP

Renováveis

SA,

electric

utility

EDP

-

Energias

de

Portugal

SA

and

specialty

distributor

and

retailer

Jerónimo

Martins

SGPS

SA.

Finally,

in

Norway,

the

weakest

names

included

energy

companies

Equinor

ASA

and

Aker

BP

ASA,

as

well

as

agricultural

chemical

producer

Yara

International

ASA.

10

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

The

fund’s

use

of

derivatives

during

the

period

was

limited

to

futures

contracts

employed

solely

to

offset

the

impact

of

cash

positions,

which

the

fund

holds

pursuant

to

its

operations,

but

the

Index

does

not.

Such

holdings

helped

the

fund

more

closely

match

the

performance

of

the

Index.

Replicating

the

Performance

of

the

Index

As

of

April

30,

2024,

most

international

economies

have

made

significant

progress

in

curbing

inflation

and

may

be

better

positioned

than

the

United

States

to

begin

cutting

rates

in

the

near

term.

Although

growth

in

most

of

the

rest

of

the

world

has

lagged

the

U.S.

economy,

Europe,

the

UK

and

many

other

countries

appear

well

positioned

to

remain

on

a

positive

trajectory,

potentially

setting

the

stage

for

additional

market

gains.

However

developments

unfold,

in

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

FactSet.

—

The

Solactive

GBS

Developed

Markets

ex

United

States

Large

&

Mid

Cap

USD

Index

NTR

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-

and

mid-

capitalization

companies.

The

Index’s

universe

of

eligible

securities

includes

equity

securities

issued

by

developed

market

companies

(excluding

the

United

States),

listed

on

a

developed

market

exchange,

and

that

meet

certain

tradability

requirements.

Securities

included

in

the

Index

may

be

denominated

in

foreign

currencies.

To

determine

if

a

company

is

a

developed

market

company,

the

Index

considers

the

company's

country

of

primary

listing,

incorporation,

domicile,

and

risk.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order

and

securities

representing

approximately

the

top

85%

free

float

market

capitalization

of

each

developed

market

country

are

included

in

the

Index.

As

of

December

31,

2023,

the

Index

considers

the

following

countries

to

be

developed

market

countries

(excluding

the

United

States):

Australia,

Austria,

Belgium,

Canada,

Denmark,

Finland,

France,

Germany,

Hong

Kong,

Ireland,

Israel,

Italy,

Japan,

Netherlands,

New

Zealand,

Norway,

Poland,

Portugal,

Singapore,

Spain,

Sweden,

Switzerland,

and

United

Kingdom.

The

Index

reconstitutes

semi-annually

in

May

and

November.

Investors

cannot

invest

directly

in

any

index.

3

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-markets

(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-markets

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.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

5

Effective

November

15,

2023,

the

fund

changed

its

investment

objective.

Please

see

Note

1

and

the

fund’s

prospectus

for

more

details.

Please

note:

the

position

in

any

security

highlighted

with

italicized

typeface

was

sold

during

the

reporting

period.

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.

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.

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-markets

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.

The

BNY

Mellon

ETFs

are

not

sponsored,

promoted,

sold

or

supported

in

any

other

manner

by

Solactive

AG

nor

does

Solactive

AG

offer

any

express

or

implicit

guarantee

or

assurance

either

with

regard

to

the

results

of

using

the

Index

and/or

Index

trade

mark

or

the

Index

Price

at

any

time

or

in

any

other

respect.

The

Index

is

calculated

and

published

by

Solactive

AG.

Solactive

AG

uses

its

best

efforts

to

ensure

that

the

Index

is

calculated

correctly.

Irrespective

of

its

obligations

towards

BNY

Mellon,

Solactive

AG

has

no

obligation

to

point

out

errors

in

the

Index

to

third

parties

including

but

not

limited

to

investors

and/or

financial

intermediaries

of

the

BNY

Mellon

ETFs.

Neither

publication

of

the

Index

by

Solactive

AG

nor

the

licensing

of

the

Index

or

Index

trade

mark

for

the

purpose

of

use

in

connection

with

the

BNY

Mellon

ETFs

constitutes

a

recommendation

by

Solactive

AG

to

invest

capital

in

said

financial

instrument

nor

does

it

in

any

way

represent

an

assurance

or

opinion

of

Solactive

AG

with

regard

to

any

investment

in

the

BNY

Mellon

ETFs.

11

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll

and

Marlene

Walker

Smith,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

Emerging

Markets

Equity

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

14.82%.

1

This

compares

with

a

15.70%

total

return

for

the

fund’s

benchmark,

the

Solactive

GBS

Emerging

Markets

Large

&

Mid

Cap

USD

Index

NTR

(the

“Index”),

during

the

same

period.

2

In

comparison,

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

,

the

fund’s

former

benchmark,

returned

15.38%

for

the

same

period.

3

,4

Emerging-markets

equities

gained

ground

during

the

reporting

period

as

monetary

policies

promoted

local

economic

growth,

and

the

U.S.

dollar

weakened

relative

to

most

emerging-markets

currencies.

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.

Effective

November

15,

2023,

the

benchmark

for

the

fund

has

changed

from

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

to

Solactive

GBS

Emerging

Markets

Large

&

Mid

Cap

USD

Index

NTR

in

connection

with

a

change

to

the

fund’s

investment

objective.

5

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

Index,

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

free

float

market

capitalization

weighted

Index

designed

to

measure

the

performance

of

emerging

market

large-

and

mid-capitalization

companies.

The

Index’s

universe

of

eligible

securities

includes

equity

securities

issued

by

emerging

market

companies,

listed

on

a

developed

or

emerging

market

exchange,

and

that

meet

certain

tradability

and

foreign

investment

limitation

requirements.

Securities

included

in

the

Index

may

be

denominated

in

foreign

currencies.

To

determine

if

a

company

is

an

emerging

market

company,

the

Index

considers

the

company’s

country

of

primary

listing,

incorporation,

domicile,

and

risk.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order

and

securities

representing

approximately

the

top

85%

free

float

market

capitalization

of

each

emerging

market

country

are

included

in

the

Index.

As

of

December

31,

2023,

the

Index

considers

the

following

countries

to

be

emerging

market

countries:

Brazil,

Chile,

China,

Colombia,

Czech

Republic,

Egypt,

Greece,

Hungary,

India,

Indonesia,

Kuwait,

Malaysia,

Mexico,

Philippines,

Qatar,

Saudi

Arabia,

South

Africa,

South

Korea,

Taiwan,

Thailand,

Turkey,

and

United

Arab

Emirates.

The

Index

reconstitutes

semi-annually

in

May

and

November.

Macroeconomic

and

Currency

Trends

Drive

Emerging

Markets

During

the

reporting

period,

effective

monetary

policies

in

many

emerging-markets

economies

made

progress

in

balancing

inflation

control

with

stimulating

economic

activity,

thereby

increasing

investor

confidence.

At

the

same

time,

several

major

emerging-

markets

countries,

including

India,

Brazil,

Mexico

and

Turkey,

implemented

meaningful

structural

reforms

that

helped

drive

economic

growth

while

attracting

foreign

investment.

Emerging

markets

also

benefited

from

flattening

U.S.

interest

rates,

as

the

U.S.

Federal

Reserve

reached

the

end

of

its

rate

hiking

cycle,

which

led

to

the

stabilization

and

eventual

weakening

of

the

U.S.

dollar

relative

to

emerging-markets

currency.

Several

emerging-

markets

economies

also

gained

from

a

wave

of

investment

in

artificial

intelligence

(“AI”),

which

drove

soaring

demand

for

AI-

related

products

and

services,

many

of

which

were

provided

by

fast-growing

emerging-markets

companies.

Technology,

Consumer

Staples

and

Utilities

Outperform

From

a

sector

perspective,

technology-related

shares

in

communication

services

and

information

technology

delivered

the

Index’s

strongest

performance,

partly

driven

by

growing

momentum

in

AI

developments.

Consumer

staples

provided

the

next-strongest

returns,

bolstered

by

the

sector’s

defensive

characteristics

at

a

time

of

economic

uncertainty

and

market

volatility,

and

by

the

strong

pricing

power

enjoyed

by

many

of

the

sector’s

companies.

Utilities

outperformed

as

well,

benefiting

from

stable

cash

flows,

attractive

dividends

and

growth

opportunities

related

to

infrastructure

modernization

and

improvement.

From

a

country

perspective,

India

outperformed

by

the

greatest

margin,

led

by

gains

in

aircraft

engineering

firm

Hindustan

Aeronautics

Ltd.,

engineering

and

manufacturing

company

Bharat

Heavy

Electricals

Ltd.,

and

renewable

energy

provider

Adani

Green

Energy

Ltd.

Taiwan

was

the

next-strongest

performing

market,

with

notable

returns

from

shares

in

thermal

equipment

manufacturer

Asia

Vital

Components,

shipping

and

container

company

Evergreen

Marine

Corp.,

and

industrial

conglomerate

Tatung

Co.

Ltd.

In

Columbia,

top

performers

included

electric

utility

Interconexión

Eléctrica

SA

ESP

and

regional

bank

Bancolombia

SA.

Conversely,

the

health

care,

real

estate

and

materials

sectors

lagged

the

Index

most

significantly.

On

a

country

basis,

the

weakest-performing

markets

included

Egypt,

which

allowed

its

currency

to

devalue

in

March

2024,

the

Czech

Republic

and

Thailand.

The

Index

included

only

two

positions

in

the

Czech

Republic,

both

of

which

underperformed:

ČEZ

Group

AS

and

Komerční

Banka

AS.

Finally,

in

Thailand,

the

weakest

names

included

energy

companies

Banpu

Public

Co.

Ltd.

and

Energy

Absolute

PCL,

and

circuit

board

manufacturer

Kce

Electronics.

12

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

The

fund’s

use

of

derivatives

during

the

period

was

limited

to

futures

contracts

employed

solely

to

offset

the

impact

of

cash

positions,

which

the

fund

holds

pursuant

to

its

operations,

but

the

Index

does

not.

Such

holdings

helped

the

fund

more

closely

match

the

performance

of

the

Index.

Replicating

the

Performance

of

the

Index

As

of

April

30,

2024,

many

emerging-markets

economies

have

made

significant

progress

in

implementing

structural

reforms

to

improve

governance,

streamline

regulation

and

increase

transparency,

enhancing

growth

opportunities

and

creating

a

more

attractive

environment

for

offshore

investment.

Many

countries

have

also

made

strides

in

managing

local

interest

rates

to

keep

inflation

in

check.

Accordingly

while

emerging

markets

remain

sensitive

to

U.S.

and

European

interest-rate

policy

and

currency

trends,

and

vulnerable

to

slowing

growth

in

China

and

geopolitical

tensions

in

Asia

and

the

Middle

East,

we

generally

take

a

favorable

view

of

the

prospects

for

asset

class.

However

developments

unfold,

in

seeking

to

match

the

performance

of

the

Index,

we

do

not

actively

manage

investments

in

response

to

macroeconomic

trends.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

FactSet

--

The

Solactive

GBS

Emerging

Markets

Large

&

Mid

Cap

USD

Index

NTR

is

a

free

float

market

capitalization

weighted

index

designed

to

measure

the

performance

of

emerging

market

large-

and

mid-capitalization

companies.

The

Index’s

universe

of

eligible

securities

includes

equity

securities

issued

by

emerging

market

companies,

listed

on

a

developed

or

emerging

market

exchange,

and

that

meet

certain

tradability

and

foreign

investment

limitation

requirements.

Securities

included

in

the

Index

may

be

denominated

in

foreign

currencies.

To

determine

if

a

company

is

an

emerging

market

company,

the

Index

considers

the

company's

country

of

primary

listing,

incorporation,

domicile,

and

risk.

At

each

reconstitution,

eligible

securities

are

ranked

by

total

market

capitalization

in

descending

order

and

securities

representing

approximately

the

top

85%

free

float

market

capitalization

of

each

emerging

market

country

are

included

in

the

Index.

As

of

December

31,

2023,

the

Index

considers

the

following

countries

to

be

emerging

market

countries:

Brazil,

Chile,

China,

Colombia,

Czech

Republic,

Egypt,

Greece,

Hungary,

India,

Indonesia,

Kuwait,

Malaysia,

Mexico,

Philippines,

Qatar,

Saudi

Arabia,

South

Africa,

South

Korea,

Taiwan,

Thailand,

Turkey,

and

United

Arab

Emirates.

The

Index

reconstitutes

semi-annually

in

May

and

November.

Investors

cannot

invest

directly

in

any

index.

3

Source:

Morningstar

Inc.

—

The

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

is

a

float-adjusted,

market

capitalization-weighted

index

designed

to

measure

the

performance

of

emerging-markets,

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-markets

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.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

5

Effective

November

15,

2023,

the

fund

changed

its

investment

objective.

Please

see

Note

1

and

the

fund’s

prospectus

for

more

details.

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.

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.

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-markets

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-markets

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.

The

BNY

Mellon

ETFs

are

not

sponsored,

promoted,

sold

or

supported

in

any

other

manner

by

Solactive

AG

nor

does

Solactive

AG

offer

any

express

or

implicit

guarantee

or

assurance

either

with

regard

to

the

results

of

using

the

Index

and/or

Index

trade

mark

or

the

Index

Price

at

any

time

or

in

any

other

respect.

The

Index

is

calculated

and

published

by

Solactive

AG.

Solactive

AG

uses

its

best

efforts

to

ensure

that

the

Index

is

calculated

correctly.

Irrespective

of

its

obligations

towards

BNY

Mellon,

Solactive

AG

has

no

obligation

to

point

out

errors

in

the

Index

to

third

parties

including

but

not

limited

to

investors

and/or

financial

intermediaries

of

the

BNY

Mellon

ETFs.

Neither

publication

of

the

Index

by

Solactive

AG

nor

the

licensing

of

the

Index

or

Index

trade

mark

for

the

purpose

of

use

in

connection

with

the

BNY

Mellon

ETFs

constitutes

a

recommendation

by

Solactive

AG

to

invest

capital

in

said

financial

instrument

nor

does

it

in

any

way

represent

an

assurance

or

opinion

of

Solactive

AG

with

regard

to

any

investment

in

the

BNY

Mellon

ETFs.

13

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

employed

by

the

fund's

sub-adviser,

Mellon

Investments

Corporation.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

Core

Bond

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

4.94%.

1

In

comparison,

the

Bloomberg

US

Aggregate

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

4.97%

for

the

same

period.

2,3

Absolute

returns

were

positive

in

the

fixed-income

market,

and

non-Treasury

sectors

posted

excess

returns

versus

Treasuries.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

due

to

sampling

risk,

the

choice

of

securities

selected

to

replicate

the

Index’s

performance.

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,

but

at

least

80%,

of

its

assets

in

bonds

comprising

the

Index

and

To-be-

announced

(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.

Markets

Perform

Well

Despite

Disappointing

Inflation

Data

The

bond

market

performed

well

during

the

period,

supported

initially

by

declining

inflation

and

by

investor

anticipation

that

the

U.S.

Federal

Reserve

(the

“Fed”)

would

cut

the

federal

funds

rate

several

times

in

2024.

But

inflation

remained

“sticky”

during

the

period,

as

the

pace

of

the

decline

in

the

core

rate

slowed

and

even

showed

signs

of

rising.

This

prompted

the

Fed

to

leave

rates

unchanged,

and

investors

began

to

scale

back

their

rate-cut

expectations,

resulting

in

some

market

volatility

during

the

first

few

months

of

2024.

The

Fed’s

preferred

measure

of

inflation,

the

core

personal

consumption

expenditure

(“core

PCE”)

index,

which

excludes

food

and

energy

prices,

rose

to

3.2%

year

over

year

in

November

2023

but

edged

down

over

the

period.

But

higher-than-expected

consumer

price

index

(“CPI”)

and

Producer

Price

Index

(“PPI”)

data

in

February

fed

expectations

that

inflation

was

not

yet

beaten

and

that

rate

cuts

might

be

delayed.

In

March,

the

overall

PCE

edged

up,

stoking

further

concerns

that

the

Fed’s

effort

to

rein

in

inflation

could

take

longer

than

expected,

hindering

the

bond

market

somewhat.

The

economy

remained

strong

during

the

period,

helped

by

robust

consumer

spending.

After

expanding

by

4.9%

in

the

third

quarter

of

2023,

economic

growth

continued

at

an

above-trend

rate

of

3.4%

in

the

fourth

quarter.

Growth

in

the

first

quarter

of

2024

moderated

somewhat,

coming

in

at

1.6%.

The

bond

market

benefited

as

yields

declined

sharply

across

the

yield

curve

late

in

2023

but

then

rose

steadily

in

the

first

few

months

of

2024

when

anticipated

rate

cuts

appeared

likely

to

be

postponed.

Still,

rates

across

the

curve

finished

somewhat

lower

for

the

period.

Despite

the

relative

economic

strength,

the

yield

curve

remained

inverted,

with

the

two-year

Treasury

yield

exceeding

that

on

the

10-year

Treasury,

as

it

has

since

July

2022.

In

addition

to

economic

factors,

political

elements

are

also

affecting

rate

expectations.

Rate

cuts

may

not

occur

before

the

November

presidential

election

as

the

Fed

would

like

to

avoid

the

appearance

of

political

favoritism.

Nevertheless,

if

the

economy

should

weaken

enough

before

then,

the

Fed

may

not

hesitate

to

act.

Investors

are

also

monitoring

geopolitical

developments,

especially

in

the

Middle

East.

Should

the

conflict

between

Israel

and

Hamas

widen,

oil

shipments

could

be

disrupted,

potentially

leading

to

higher

energy

prices,

which

could

exacerbate

the

inflation

rate.

Market

Posts

Broad-based

Gains

All

sectors

in

the

Index

produced

a

positive

nominal

performance

and

positive

excess

return

over

risk-neutral

Treasuries.

The

corporate

sector

posted

the

strongest

performance

return

(7.34%),

with

an

excess

return

of

over

350

basis

points.

Within

corporates,

the

strongest

sector

was

utilities,

which

posted

a

total

return

of

more

than

8%.

The

securitized

sector,

benefiting

from

a

decline

in

interest

rates,

also

performed

well,

returning

5.31%.

Treasuries

posted

the

lowest

performance

for

the

period

but

still

contributed

a

return

of

more

than

3%.

No

sectors

detracted

from

performance.

14

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.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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

2

Source:

Lipper

Inc.

—

The

Bloomberg

US

Aggregate

Total

Return

Index

is

a

broad-

based,

flagship

benchmark

that

measures

the

investment-grade,

U.S.

dollar-denominated,

fixed-rate,

taxable

bond

market.

The

Index

includes

Treasuries,

government-related

and

corporate

securities,

MBS

(agency

fixed-rate),

ABS

and

CMBS

(agency

and

nonagency).

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.

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.

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.

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.

Mortgage-backed

securities

risk.

Mortgage-backed

securities

represent

a

participation

in,

or

are

secured

by,

mortgage

loans.

Certain

of

the

mortgage-backed

securities

in

which

the

fund

may

invest

are

not

backed

by

the

full

faith

and

credit

of

the

U.S.

government

and

there

can

be

no

assurance

that

the

U.S.

government

would

provide

financial

support

to

its

agencies

or

instrumentalities

where

it

was

not

obligated

to

do

so.

Mortgage-backed

securities

tend

to

increase

in

value

less

than

other

debt

securities

when

interest

rates

decline

but

are

subject

to

similar

or

greater

risk

of

decline

in

market

value

during

periods

of

rising

interest

rates.

Because

of

prepayment

and

extension

risk,

mortgage-backed

securities

react

differently

to

changes

in

interest

rates

than

other

bonds.

Small

movements

in

interest

rates

may

quickly

and

significantly

affect

the

value

of

certain

mortgage-backed

securities.

Transactions

in

mortgage-backed

pass-through

securities

often

occur

through

TBA

transactions,

as

described

in

the

"Principal

Investment

Strategy"

section

above.

Default

by

or

bankruptcy

of

a

counterparty

to

a

TBA

transaction

could

expose

the

fund

to

possible

losses

because

of

an

adverse

market

action,

expenses,

or

delays

in

connection

with

the

purchase

or

sale

of

the

pools

of

mortgage-backed

pass-through

securities

specified

in

the

TBA

transaction.

15

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

Paul

Benson,

CFA,

CAIA,

Manuel

Hayes

and

Stephanie

Shu,

CFA,

portfolio

managers

employed

by

the

fund's

sub-adviser,

Insight

North

America

LLC.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

High

Yield

Beta

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

8.86%.

1

In

comparison,

the

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

8.99%

for

the

same

period.

2,3

U.S.

high

yield

securities

produced

positive

returns

over

the

reporting

period

in

an

environment

of

easing

inflation

and

an

inverted

yield

curve.

The

performance

primarily

arose

from

positive

contributions

from

the

consumer

and

financial

sectors.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

performance

of

the

Index.

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

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

fund

may

also

invest

in

derivatives

with

economic

characteristics

similar

to

such

bonds

or

the

Index.

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.

Effective

on

or

about

July

1,

2024

(the

“Effective

Date”),

the

fund

will

no

longer

be

an

“index

fund”

that

seeks

to

track

the

performance

of

the

Index

and

instead

will

be

managed

using

an

“active”

investment

strategy,

process

and

approach.

Accordingly,

as

of

the

Effective

Date,

the

fund’s

name

will

be

changed

to

“BNY

Mellon

High

Yield

ETF”.

Also

as

of

the

Effective

Date,

the

fund’s

investment

objective

will

be

to

seek

total

return

consisting

of

capital

appreciation

and

income,

and

the

fund

will

seek

to

provide

diversified

investment

exposure

to

the

U.S.

high

yield

bond

market.

While

the

fund

will

no

longer

be

an

index

fund

and

will

not

attempt

to

replicate

any

index,

the

fund

will

normally

invest

substantially

all

of

its

assets

in

bonds

that,

at

the

time

of

purchase,

are

included

in

the

Index,

ETFs

providing

exposure

to

securities

included

in

the

Index

and

derivatives

with

economic

characteristics

similar

to

such

bonds,

ETFs

or

the

Index.

4

Markets

Perform

Well

Despite

Disappointing

Inflation

Data

The

U.S.

high

yield

bond

market

gained

as

the

market

priced

future

rate

cuts,

strong

earnings,

and

inflows

into

the

asset

class.

High

yield

bonds

produced

an

8.99%

total

return

during

the

reporting

period.

Investors

expected

the

U.S.

Federal

Reserve

(the

“Fed”)

to

cut

the

federal

funds

rate

several

times

in

2024.

Inflation

remained

“sticky”

during

the

period,

as

the

pace

of

the

decline

in

the

core

rate

slowed

and

even

showed

signs

of

rising.

This

prompted

the

Fed

to

leave

rates

unchanged,

and

investors

began

to

scale

back

their

rate-cut

expectations,

resulting

in

some

market

volatility

during

the

first

few

months

of

2024.

The

Fed’s

preferred

measure

of

inflation,

the

core

personal

consumption

expenditure

(“core

PCE”)

index,

which

excludes

food

and

energy

prices,

rose

to

3.2%

year

over

year

in

November

2023

but

edged

down

over

the

period.

Higher-than-expected

consumer

price

index

(“CPI”)

and

Producer

Price

Index

(“PPI”)

data

in

February

fed

expectations

that

inflation

was

not

yet

beaten

and

that

rate

cuts

might

be

delayed.

In

March,

the

overall

PCE

edged

up,

stoking

further

concerns

that

the

Fed’s

effort

to

rein

in

inflation

could

take

longer

than

expected,

hindering

the

bond

market

somewhat.

The

economy

remained

strong

during

the

period,

helped

by

robust

consumer

spending.

After

expanding

by

4.9%

in

the

third

quarter,

economic

growth

continued

at

an

above-trend

rate

of

3.4%

in

the

fourth

quarter.

Growth

in

the

first

quarter

of

2024

moderated

somewhat,

coming

in

at

1.6%.

The

bond

market

benefited

as

yields

declined

sharply

across

the

yield

curve

late

in

2023

but

then

rose

steadily

in

the

first

few

months

of

2024

when

anticipated

rate

cuts

appeared

likely

to

be

postponed.

Still,

rates

across

the

curve

finished

somewhat

lower

for

the

period.

Despite

the

relative

economic

strength,

the

yield

curve

remained

inverted,

with

the

two-year

Treasury

yield

exceeding

that

on

the

10-year

Treasury,

as

it

has

since

July

2022.

In

addition

to

economic

factors,

political

elements

are

also

affecting

rate

expectations.

Rate

cuts

may

not

occur

before

the

November

presidential

election

as

the

Fed

would

like

to

avoid

the

appearance

of

political

favoritism.

Nevertheless,

if

the

economy

should

weaken

enough

before

then,

the

Fed

may

not

hesitate

to

act.

Investors

are

also

monitoring

geopolitical

developments,

especially

in

the

Middle

East.

Should

the

conflict

between

Israel

and

Hamas

widen,

oil

shipments

could

be

disrupted,

potentially

leading

to

higher

energy

prices,

which

could

exacerbate

the

inflation

rate.

16

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Returns

Bolstered

by

Consumer

and

Financial

Sectors

The

fund

marginally

benefited

from

positioning

in

high

yield

corporate

bonds.

The

leading

sectors

in

the

portfolio

were

consumer

cyclical,

consumer

non-cyclical

and

financials

(excluding

REITs).

The

fund

had

marginal

underperformance

in

exposures

of

lower-quality,

wider-spread

names

relative

to

the

benchmark.

The

lagging

sectors

in

the

portfolio

were

communications,

utilities

and

energy.

Replicating

the

Composition

of

the

Index

As

an

exchange-traded

fund

that

tracks

the

Index,

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

that

affect

the

fund’s

investments.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

ETFs

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

Lipper

Inc.

—

The

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

Index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

Index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

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.

4

Please

see

Note

6

-

Subsequent

Event,

below,

and

the

fund’s

prospectus

for

more

details.

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.

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.

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.

UNDERSTANDING

YOUR

FUND’S

EXPENSES

(Unaudited)

17

As

a

shareholder

of

the

funds,

you

pay

ongoing

expenses,

such

as

management

fees

and

other

expenses.

Using

the

information

below,

you

can

estimate

how

these

expenses

affect

your

investment

and

compare

them

with

the

expenses

of

other

funds.

For

more

information,

see

your

funds’

prospectus

or

talk

to

your

financial

adviser.

Actual

Expenses

The

table

below

shows

the

expenses

you

would

have

paid

on

a

$1,000

investment

in

each

fund

from

November

1,

2023

to

April

30,

2024.

The

information

under

each

column

in

the

table

below

entitled

“Actual”

provides

information

about

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

Securities

and

Exchange

Commission

(“SEC”)

has

established

guidelines

to

help

investors

assess

fund

expenses.

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

funds

with

those

of

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

funds

with

those

of

other

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

April

30,

2024

.

Expenses

are

calculated

by

multiplying

the

fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

182/366

(to

reflect

the

one-half

period).

For

the

six

months

ended

April

30,

2024

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

1,212.50

1,024.86

0.00

0.00

0.00

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,217.10

1,024.66

0.22

0.20

0.04

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,185.30

1,024.66

0.22

0.20

0.04

BNY

Mellon

International

Equity

ETF

1,000.00

1,000.00

1,184.70

1,024.66

0.22

0.20

0.04

BNY

Mellon

Emerging

Markets

Equity

ETF

1,000.00

1,000.00

1,148.20

1,024.32

0.59

0.55

0.11

BNY

Mellon

Core

Bond

ETF

1,000.00

1,000.00

1,049.40

1,024.86

0.00

0.00

0.00

BNY

Mellon

High

Yield

Beta

ETF

1,000.00

1,000.00

1,088.60

1,023.77

1.14

1.11

0.22

18

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.7%

Communication

Services

–

9.2%

Alphabet,

Inc.,

Class

A

(a)

311,217

50,659,903

Alphabet,

Inc.,

Class

C

(a)

261,125

42,991,620

AT&T,

Inc.

369,536

6,241,463

Charter

Communications,

Inc.,

Class

A

(a)(b)

5,059

1,294,801

Comcast

Corp.,

Class

A

209,832

7,996,698

Electronic

Arts,

Inc.

14,427

1,829,632

Endeavor

Group

Holdings,

Inc.,

Class

A

4,255

112,375

Fox

Corp.,

Class

A

12,735

394,912

Fox

Corp.,

Class

B

9,030

258,980

Live

Nation

Entertainment,

Inc.

(a)

7,801

693,587

Meta

Platforms,

Inc.,

Class

A

115,669

49,757,334

Netflix,

Inc.

(a)

22,712

12,506,136

Omnicom

Group,

Inc.

10,501

974,913

Pinterest,

Inc.,

Class

A

(a)

30,374

1,016,010

ROBLOX

Corp.,

Class

A

(a)

24,493

870,971

Sirius

XM

Holdings,

Inc.

(b)

35,269

103,691

Snap,

Inc.,

Class

A

(a)

53,147

799,862

Spotify

Technology

SA

(a)

6,987

1,959,434

Take-Two

Interactive

Software,

Inc.

(a)

8,569

1,223,739

T-Mobile

US,

Inc.

24,831

4,076,505

Trade

Desk,

Inc.

(The),

Class

A

(a)

22,896

1,896,934

Verizon

Communications,

Inc.

218,240

8,618,298

Walt

Disney

Co.

(The)

95,019

10,556,611

Warner

Bros

Discovery,

Inc.

(a)

113,415

834,734

Warner

Music

Group

Corp.,

Class

A

6,588

217,404

207,886,547

Consumer

Discretionary

–

10.3%

Airbnb,

Inc.,

Class

A

(a)

21,548

3,416,866

Amazon.com,

Inc.

(a)

472,559

82,697,825

Aptiv

PLC

(a)

15,367

1,091,057

AutoZone,

Inc.

(a)

923

2,728,757

Best

Buy

Co.,

Inc.

10,796

795,017

Booking

Holdings,

Inc.

1,858

6,413,872

Carnival

Corp.

(a)

52,714

781,221

Chipotle

Mexican

Grill,

Inc.,

Class

A

(a)

1,441

4,552,984

Coupang

,

Inc.,

Class

A

(a)

57,896

1,302,660

D.R.

Horton,

Inc.

16,207

2,309,335

Darden

Restaurants,

Inc.

6,258

960,040

Deckers

Outdoor

Corp.

(a)

1,179

964,976

DoorDash

,

Inc.,

Class

A

(a)

15,674

2,026,021

DraftKings

,

Inc.,

Class

A

(a)

22,462

933,521

eBay,

Inc.

28,592

1,473,632

Expedia

Group,

Inc.

(a)

7,299

982,664

Ford

Motor

Co.

197,639

2,401,314

Garmin

Ltd.

7,851

1,134,234

General

Motors

Co.

69,194

3,081,209

Genuine

Parts

Co.

7,403

1,163,826

Hilton

Worldwide

Holdings,

Inc.

13,526

2,668,409

Home

Depot,

Inc.

(The)

52,568

17,569,277

Las

Vegas

Sands

Corp.

16,849

747,422

Lennar

Corp.,

Class

A

13,801

2,092,508

Lennar

Corp.,

Class

B

514

72,160

Lowe's

Cos.,

Inc.

30,598

6,976,038

Lululemon

Athletica

,

Inc.

(a)

5,885

2,122,131

Marriott

International,

Inc.,

Class

A

14,017

3,309,834

McDonald's

Corp.

38,466

10,502,757

MercadoLibre

,

Inc.

(a)

2,341

3,414,817

MGM

Resorts

International

(a)

16,220

639,717

Mobileye

Global,

Inc.,

Class

A

(a)(b)

4,494

123,810

NIKE,

Inc.,

Class

B

63,401

5,849,376

NVR,

Inc.

(a)

146

1,086,072

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Consumer

Discretionary

–

10.3%

(continued)

O'Reilly

Automotive,

Inc.

(a)

3,193

3,235,339

Pool

Corp.

2,005

726,873

PulteGroup,

Inc.

10,459

1,165,342

Rivian

Automotive,

Inc.,

Class

A

(a)(b)

36,453

324,432

Ross

Stores,

Inc.

17,870

2,315,058

Royal

Caribbean

Cruises

Ltd.

(a)

11,483

1,603,371

Starbucks

Corp.

58,536

5,179,851

Tesla,

Inc.

(a)

144,396

26,464,899

TJX

Cos.,

Inc.

(The)

61,145

5,753,133

Tractor

Supply

Co.

5,767

1,574,852

Ulta

Beauty,

Inc.

(a)

2,569

1,040,034

Yum

China

Holdings,

Inc.

21,218

774,669

Yum!

Brands,

Inc.

14,709

2,077,646

230,620,858

Consumer

Staples

–

6.0%

Albertsons

Cos.,

Inc.,

Class

A

19,630

400,452

Altria

Group,

Inc.

92,035

4,032,053

Archer-Daniels-Midland

Co.

26,723

1,567,571

Brown-Forman

Corp.,

Class

A

1,380

67,717

Brown-Forman

Corp.,

Class

B

17,682

846,084

Bunge

Global

SA

7,499

763,098

Campbell

Soup

Co.

11,131

508,798

Church

&

Dwight

Co.,

Inc.

12,518

1,350,567

Clorox

Co.

(The)

6,655

984,075

Coca-Cola

Co.

(The)

202,942

12,535,727

Colgate-Palmolive

Co.

43,215

3,972,323

ConAgra

Brands,

Inc.

28,324

871,813

Constellation

Brands,

Inc.,

Class

A

8,527

2,161,253

Costco

Wholesale

Corp.

23,259

16,813,931

Dollar

General

Corp.

10,639

1,480,842

Dollar

Tree,

Inc.

(a)

11,059

1,307,727

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

10,430

1,530,185

General

Mills,

Inc.

27,597

1,944,485

Hershey

Co.

(The)

8,016

1,554,463

Hormel

Foods

Corp.

16,357

581,655

JM

Smucker

Co.

(The)

5,626

646,146

Kellanova

14,933

864,023

Kenvue

,

Inc.

91,033

1,713,241

Keurig

Dr

Pepper,

Inc.

45,684

1,539,551

Kimberly-Clark

Corp.

16,846

2,299,984

Kraft

Heinz

Co.

(The)

38,510

1,486,871

Kroger

Co.

(The)

36,635

2,028,846

McCormick

&

Co.,

Inc.

13,612

1,035,329

Mondelez

International,

Inc.,

Class

A

71,896

5,172,198

Monster

Beverage

Corp.

(a)

27,181

1,452,825

PepsiCo,

Inc.

72,561

12,764,206

Philip

Morris

International,

Inc.

80,398

7,632,986

Procter

&

Gamble

Co.

(The)

123,901

20,220,643

SYSCO

Corp.

26,988

2,005,748

Target

Corp.

23,335

3,756,468

Tyson

Foods,

Inc.,

Class

A

15,967

968,399

Walgreens

Boots

Alliance,

Inc.

39,145

694,041

Walmart,

Inc.

224,313

13,312,977

134,869,301

Energy

–

4.1%

Baker

Hughes

Co.,

Class

A

52,804

1,722,466

Cheniere

Energy,

Inc.

12,346

1,948,446

Chevron

Corp.

90,313

14,564,777

ConocoPhillips

63,622

7,992,196

Coterra

Energy,

Inc.

38,514

1,053,743

Devon

Energy

Corp.

35,430

1,813,307

19

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Energy

–

4.1%

(continued)

Diamondback

Energy,

Inc.

8,590

1,727,707

EOG

Resources,

Inc.

30,320

4,006,182

EQT

Corp.

21,132

847,182

Exxon

Mobil

Corp.

209,118

24,732,386

Halliburton

Co.

48,150

1,804,180

Hess

Corp.

14,327

2,256,359

Kinder

Morgan,

Inc.

105,033

1,920,003

Marathon

Oil

Corp.

30,809

827,222

Marathon

Petroleum

Corp.

20,247

3,679,285

Occidental

Petroleum

Corp.

36,670

2,425,354

ONEOK,

Inc.

31,149

2,464,509

Phillips

66

23,556

3,373,455

Pioneer

Natural

Resources

Co.

12,441

3,350,610

Schlumberger

NV

74,952

3,558,721

Targa

Resources

Corp.

11,338

1,293,212

Valero

Energy

Corp.

17,899

2,861,513

Williams

Cos.,

Inc.

(The)

64,560

2,476,522

92,699,337

Financials

–

13.0%

Aflac,

Inc.

28,154

2,355,082

Allstate

Corp.

(The)

13,900

2,363,834

American

Express

Co.

30,760

7,198,763

American

International

Group,

Inc.

37,666

2,836,626

Ameriprise

Financial,

Inc.

5,398

2,222,842

Aon

PLC,

Class

A

10,585

2,985,076

Apollo

Global

Management,

Inc.

21,546

2,335,155

Arch

Capital

Group

Ltd.

(a)

18,240

1,706,170

Ares

Management

Corp.,

Class

A

7,633

1,015,876

Arthur

J

Gallagher

&

Co.

11,486

2,695,649

Bank

of

America

Corp.

360,654

13,347,805

Bank

of

New

York

Mellon

Corp.

(The)

40,434

2,284,117

Berkshire

Hathaway,

Inc.,

Class

B

(a)

68,223

27,066,111

BlackRock,

Inc.,

Class

A

7,590

5,727,718

Blackstone,

Inc.

36,890

4,301,743

Block,

Inc.,

Class

A

(a)

29,084

2,123,132

Blue

Owl

Capital,

Inc.,

Class

A

21,640

408,780

Brown

&

Brown,

Inc.

11,625

947,902

Capital

One

Financial

Corp.

20,081

2,880,218

Cboe

Global

Markets,

Inc.

5,152

933,285

Charles

Schwab

Corp.

(The)

71,537

5,290,161

Chubb

Ltd.

22,060

5,484,998

Cincinnati

Financial

Corp.

8,075

934,197

Citigroup,

Inc.

97,023

5,950,421

Citizens

Financial

Group,

Inc.

29,094

992,396

CME

Group,

Inc.,

Class

A

18,944

3,971,420

Coinbase

Global,

Inc.,

Class

A

(a)

8,174

1,666,924

Corpay

,

Inc.

(a)

3,669

1,108,552

Discover

Financial

Services

13,365

1,693,746

Everest

Group

Ltd.

1,560

571,600

FactSet

Research

Systems,

Inc.

1,976

823,775

Fidelity

National

Information

Services,

Inc.

31,535

2,141,857

Fifth

Third

Bancorp

38,893

1,418,039

First

Citizens

BancShares

,

Inc.,

Class

A

560

944,586

Fiserv,

Inc.

(a)

32,000

4,885,440

Franklin

Resources,

Inc.

16,921

386,476

Global

Payments,

Inc.

13,723

1,684,773

Goldman

Sachs

Group,

Inc.

(The)

17,332

7,395,738

Hartford

Financial

Services

Group,

Inc.

(The)

16,009

1,551,112

Huntington

Bancshares,

Inc.

84,850

1,142,929

Interactive

Brokers

Group,

Inc.,

Class

A

5,414

623,260

Intercontinental

Exchange,

Inc.

29,146

3,752,839

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Financials

–

13.0%

(continued)

JPMorgan

Chase

&

Co.

152,444

29,229,613

KKR

&

Co.,

Inc.

34,316

3,193,790

Loews

Corp.

8,015

602,327

LPL

Financial

Holdings,

Inc.

3,956

1,064,678

M&T

Bank

Corp.

9,052

1,307,018

Markel

Group,

Inc.

(a)

709

1,034,006

Marsh

&

McLennan

Cos.,

Inc.

26,367

5,258,371

Mastercard

,

Inc.,

Class

A

44,231

19,957,027

MetLife,

Inc.

31,560

2,243,285

Moody's

Corp.

8,388

3,106,328

Morgan

Stanley

66,424

6,033,956

MSCI,

Inc.,

Class

A

4,194

1,953,523

NASDAQ,

Inc.

18,527

1,108,841

Northern

Trust

Corp.

11,847

976,074

PayPal

Holdings,

Inc.

(a)

55,833

3,792,177

PNC

Financial

Services

Group,

Inc.

(The)

20,100

3,080,526

Principal

Financial

Group,

Inc.

13,689

1,083,347

Progressive

Corp.

(The)

30,699

6,393,067

Prudential

Financial,

Inc.

20,094

2,219,985

Raymond

James

Financial,

Inc.

10,311

1,257,942

Regions

Financial

Corp.

54,505

1,050,311

Rocket

Cos.,

Inc.,

Class

A

(a)(b)

5,430

66,680

S&P

Global,

Inc.

16,937

7,042,913

State

Street

Corp.

17,401

1,261,398

Synchrony

Financial

24,593

1,081,600

T

Rowe

Price

Group,

Inc.

12,479

1,367,324

Tradeweb

Markets,

Inc.,

Class

A

5,725

582,290

Travelers

Cos.,

Inc.

(The)

11,543

2,448,963

Truist

Financial

Corp.

66,543

2,498,690

US

Bancorp

74,946

3,045,056

Visa,

Inc.,

Class

A

(b)

83,534

22,438,068

W.R.

Berkley

Corp.

10,291

792,098

Wells

Fargo

&

Co.

189,470

11,239,360

Willis

Towers

Watson

PLC

5,553

1,394,580

293,356,335

Health

Care

–

12.2%

Abbott

Laboratories

89,895

9,526,173

AbbVie,

Inc.

92,672

15,072,174

Agilent

Technologies,

Inc.

15,667

2,147,006

Align

Technology,

Inc.

(a)

3,775

1,065,984

Alnylam

Pharmaceuticals,

Inc.

(a)

6,570

945,751

Amgen,

Inc.

28,073

7,690,318

Avantor

,

Inc.

(a)

35,417

858,154

Baxter

International,

Inc.

27,981

1,129,593

Becton,

Dickinson

&

Co.

15,067

3,534,718

Biogen,

Inc.

(a)

7,251

1,557,660

BioMarin

Pharmaceutical,

Inc.

(a)

9,600

775,296

Boston

Scientific

Corp.

(a)

77,544

5,573,087

Bristol-Myers

Squibb

Co.

103,580

4,551,305

Cardinal

Health,

Inc.

12,863

1,325,404

Cencora

,

Inc.

8,654

2,068,739

Centene

Corp.

(a)

28,723

2,098,502

Cigna

Group

(The)

15,330

5,473,423

Cooper

Cos.,

Inc.

(The)

10,395

925,779

CVS

Health

Corp.

66,512

4,503,528

Danaher

Corp.

34,304

8,460,052

DexCom

,

Inc.

(a)

19,752

2,516,207

Edwards

Lifesciences

Corp.

(a)

30,159

2,553,563

Elevance

Health,

Inc.

12,221

6,459,776

Eli

Lilly

&

Co.

44,485

34,747,233

GE

Healthcare

Technologies,

Inc.

19,309

1,472,118

20

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Health

Care

–

12.2%

(continued)

Gilead

Sciences,

Inc.

64,799

4,224,895

HCA

Healthcare,

Inc.

10,602

3,284,712

Hologic

,

Inc.

(a)

13,844

1,048,960

Humana,

Inc.

6,311

1,906,490

IDEXX

Laboratories,

Inc.

(a)

4,369

2,152,868

Illumina,

Inc.

(a)

8,557

1,052,939

Incyte

Corp.

(a)

10,504

546,733

Insulet

Corp.

(a)

3,779

649,761

Intuitive

Surgical,

Inc.

(a)

18,428

6,829,785

IQVIA

Holdings,

Inc.

(a)

9,527

2,208,073

Johnson

&

Johnson

126,226

18,251,017

Laboratory

Corp.

of

America

Holdings

4,704

947,244

McKesson

Corp.

7,166

3,849,647

Medtronic

PLC

68,528

5,498,687

Merck

&

Co.,

Inc.

133,268

17,220,891

Mettler

-Toledo

International,

Inc.

(a)

1,183

1,454,735

Moderna

,

Inc.

(a)

16,067

1,772,351

Molina

Healthcare,

Inc.

(a)

3,004

1,027,668

Pfizer,

Inc.

290,630

7,445,941

Quest

Diagnostics,

Inc.

5,899

815,124

Regeneron

Pharmaceuticals,

Inc.

(a)

5,453

4,856,769

ResMed

,

Inc.

7,876

1,685,385

Revvity

,

Inc.

6,837

700,587

Royalty

Pharma

PLC,

Class

A

22,382

619,981

Solventum

Corp.

(a)

6,961

452,535

STERIS

PLC

5,094

1,042,029

Stryker

Corp.

16,651

5,603,062

Thermo

Fisher

Scientific,

Inc.

20,033

11,393,168

UnitedHealth

Group,

Inc.

48,981

23,692,110

Veeva

Systems,

Inc.,

Class

A

(a)

7,566

1,502,305

Vertex

Pharmaceuticals,

Inc.

(a)

13,591

5,338,681

Viatris

,

Inc.

66,059

764,303

Waters

Corp.

(a)

3,282

1,014,269

West

Pharmaceutical

Services,

Inc.

3,802

1,359,139

Zimmer

Biomet

Holdings,

Inc.

11,458

1,378,168

Zoetis,

Inc.,

Class

A

24,333

3,874,787

274,497,342

Industrials

–

8.8%

3M

Co.

27,892

2,691,857

AMETEK,

Inc.

12,493

2,182,027

Automatic

Data

Processing,

Inc.

21,704

5,249,981

Axon

Enterprise,

Inc.

(a)

3,533

1,108,161

Boeing

Co.

(The)

(a)

29,280

4,914,355

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

6,587

972,702

Broadridge

Financial

Solutions,

Inc.

5,985

1,157,559

Builders

FirstSource

,

Inc.

(a)

6,242

1,141,162

Carlisle

Cos.,

Inc.

2,525

980,331

Carrier

Global

Corp.

44,296

2,723,761

Caterpillar,

Inc.

27,072

9,057,479

Cintas

Corp.

4,693

3,089,590

Copart

,

Inc.

(a)

45,240

2,456,984

CSX

Corp.

105,922

3,518,729

Cummins,

Inc.

7,526

2,126,020

Deere

&

Co.

13,436

5,258,985

Delta

Air

Lines,

Inc.

33,078

1,656,215

Dover

Corp.

7,815

1,401,229

Eaton

Corp.

PLC

21,203

6,748,067

Emerson

Electric

Co.

29,738

3,205,162

Equifax,

Inc.

6,376

1,403,931

Expeditors

International

of

Washington,

Inc.

7,532

838,387

Fastenal

Co.

29,813

2,025,495

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Industrials

–

8.8%

(continued)

FedEx

Corp.

11,986

3,137,695

Ferguson

PLC

10,252

2,151,895

Fortive

Corp.

18,778

1,413,420

GE

Vernova

,

Inc.

(a)

14,129

2,171,769

General

Dynamics

Corp.

12,050

3,459,434

General

Electric

Co.

56,805

9,192,185

HEICO

Corp.

2,400

497,760

HEICO

Corp.,

Class

A

3,503

580,973

Honeywell

International,

Inc.

34,857

6,717,990

Howmet

Aerospace,

Inc.

20,388

1,360,899

Hubbell,

Inc.,

Class

B

2,689

996,328

IDEX

Corp.

4,216

929,459

Illinois

Tool

Works,

Inc.

15,586

3,804,698

Ingersoll

Rand,

Inc.

20,837

1,944,509

Jacobs

Solutions,

Inc.

6,254

897,637

JB

Hunt

Transport

Services,

Inc.

4,482

728,639

Johnson

Controls

International

PLC

33,910

2,206,524

L3Harris

Technologies,

Inc.

10,197

2,182,668

Lennox

International,

Inc.

1,525

706,715

Lockheed

Martin

Corp.

12,952

6,021,773

Nordson

Corp.

2,717

701,502

Norfolk

Southern

Corp.

11,478

2,643,613

Northrop

Grumman

Corp.

7,934

3,848,228

Old

Dominion

Freight

Line,

Inc.

10,289

1,869,614

Otis

Worldwide

Corp.

22,013

2,007,586

PACCAR,

Inc.

26,903

2,854,677

Parker-Hannifin

Corp.

6,661

3,629,646

Paychex,

Inc.

16,905

2,008,483

Paycom

Software,

Inc.

2,683

504,350

Quanta

Services,

Inc.

7,706

1,992,463

Republic

Services,

Inc.,

Class

A

11,128

2,133,238

Rockwell

Automation,

Inc.

6,062

1,642,560

Rollins,

Inc.

15,947

710,598

RTX

Corp.

76,262

7,742,118

Southwest

Airlines

Co.

34,027

882,660

SS&C

Technologies

Holdings,

Inc.

11,629

719,719

Stanley

Black

&

Decker,

Inc.

8,250

754,050

Symbotic

,

Inc.,

Class

A

(a)(b)

1,316

50,758

Trane

Technologies

PLC

12,020

3,814,427

TransDigm

Group,

Inc.

2,763

3,448,307

TransUnion

10,230

746,790

Uber

Technologies,

Inc.

(a)

103,371

6,850,396

Union

Pacific

Corp.

32,261

7,651,019

United

Airlines

Holdings,

Inc.

(a)

17,761

913,981

United

Parcel

Service,

Inc.,

Class

B

37,428

5,519,881

United

Rentals,

Inc.

3,563

2,380,048

Veralto

Corp.

9,495

889,492

Verisk

Analytics,

Inc.,

Class

A

7,485

1,631,431

Vertiv

Holdings

Co.,

Class

A

16,947

1,576,071

Waste

Management,

Inc.

21,278

4,426,250

Westinghouse

Air

Brake

Technologies

Corp.

9,258

1,491,279

WW

Grainger,

Inc.

2,161

1,991,037

Xylem,

Inc.

12,775

1,669,693

198,707,104

Information

Technology

–

29.5%

Accenture

PLC,

Class

A

33,755

10,157,217

Adobe,

Inc.

(a)

23,901

11,062,100

Advanced

Micro

Devices,

Inc.

(a)

83,958

13,297,268

Akamai

Technologies,

Inc.

(a)

7,488

755,764

Amdocs

Ltd.

5,953

499,992

Amphenol

Corp.,

Class

A

31,548

3,810,052

21

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Information

Technology

–

29.5%

(continued)

Analog

Devices,

Inc.

26,179

5,251,769

ANSYS,

Inc.

(a)

4,407

1,431,746

Apple,

Inc.

778,567

132,613,317

Applied

Materials,

Inc.

44,238

8,787,879

Arista

Networks,

Inc.

(a)

12,543

3,218,032

Aspen

Technology,

Inc.

(a)

1,426

280,737

Atlassian

Corp.,

Class

A

(a)

8,161

1,406,140

Autodesk,

Inc.

(a)

10,740

2,286,009

Bentley

Systems,

Inc.,

Class

B

9,296

488,319

Broadcom,

Inc.

23,964

31,159,670

Cadence

Design

Systems,

Inc.

(a)

14,462

3,986,161

CDW

Corp.

6,905

1,670,043

Cisco

Systems,

Inc.

213,238

10,017,921

Cloudflare

,

Inc.,

Class

A

(a)

14,840

1,297,016

Cognizant

Technology

Solutions

Corp.,

Class

A

26,325

1,729,026

Corning,

Inc.

42,178

1,407,902

Crowdstrike

Holdings,

Inc.,

Class

A

(a)

11,734

3,432,664

Datadog

,

Inc.,

Class

A

(a)

15,323

1,923,036

Dell

Technologies,

Inc.,

Class

C

12,705

1,583,551

Enphase

Energy,

Inc.

(a)

7,124

774,806

Entegris

,

Inc.

7,087

942,004

EPAM

Systems,

Inc.

(a)

3,031

713,073

Fair

Isaac

Corp.

(a)

1,202

1,362,263

First

Solar,

Inc.

(a)

5,357

944,439

Fortinet,

Inc.

(a)

34,425

2,174,972

Gartner,

Inc.

(a)

4,108

1,694,920

GLOBALFOUNDRIES,

Inc.

(a)

4,030

196,986

Hewlett

Packard

Enterprise

Co.

66,794

1,135,498

HP,

Inc.

52,497

1,474,641

HubSpot

,

Inc.

(a)

2,401

1,452,293

Intel

Corp.

217,736

6,634,416

International

Business

Machines

Corp.

47,752

7,936,382

Intuit,

Inc.

14,380

8,996,416

Jabil,

Inc.

6,273

736,199

Keysight

Technologies,

Inc.

(a)

9,521

1,408,537

KLA

Corp.

7,296

5,029,060

LAM

Research

Corp.

7,078

6,330,634

Marvell

Technology,

Inc.

45,655

3,009,121

Microchip

Technology,

Inc.

28,523

2,623,546

Micron

Technology,

Inc.

57,209

6,462,329

Microsoft

Corp.

385,378

150,039,217

MongoDB,

Inc.,

Class

A

(a)

3,621

1,322,317

Monolithic

Power

Systems,

Inc.

2,371

1,586,981

Motorola

Solutions,

Inc.

8,929

3,028,270

NetApp,

Inc.

10,749

1,098,655

NVIDIA

Corp.

124,635

107,687,133

Okta

,

Inc.,

Class

A

(a)

7,943

738,540

ON

Semiconductor

Corp.

(a)

23,080

1,619,293

Oracle

Corp.

82,178

9,347,748

Palantir

Technologies,

Inc.,

Class

A

(a)

97,124

2,133,814

Palo

Alto

Networks,

Inc.

(a)

16,052

4,669,366

PTC,

Inc.

(a)

5,632

999,342

QUALCOMM,

Inc.

58,011

9,621,124

Roper

Technologies,

Inc.

5,685

2,907,650

Salesforce,

Inc.

49,335

13,268,155

Samsara,

Inc.,

Class

A

(a)

8,726

304,799

Seagate

Technology

Holdings

PLC

9,953

855,062

ServiceNow

,

Inc.

(a)

10,699

7,417,938

Skyworks

Solutions,

Inc.

8,596

916,248

Snowflake,

Inc.,

Class

A

(a)

14,415

2,237,208

Super

Micro

Computer,

Inc.

(a)

2,388

2,050,814

Synopsys,

Inc.

(a)

8,064

4,278,678

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Information

Technology

–

29.5%

(continued)

TE

Connectivity

Ltd.

16,956

2,398,935

Teledyne

Technologies,

Inc.

(a)

2,434

928,522

Teradyne,

Inc.

8,072

938,935

Texas

Instruments,

Inc.

46,857

8,266,512

Trimble,

Inc.

(a)

13,297

798,751

Tyler

Technologies,

Inc.

(a)

2,090

964,640

VeriSign,

Inc.

(a)

4,565

773,676

Western

Digital

Corp.

(a)

16,740

1,185,694

Workday,

Inc.,

Class

A

(a)

10,768

2,635,253

Zebra

Technologies

Corp.,

Class

A

(a)

2,751

865,355

Zoom

Video

Communications,

Inc.,

Class

A

(a)

13,798

843,058

Zscaler

,

Inc.

(a)

4,553

787,396

665,100,945

Materials

–

2.4%

Air

Products

&

Chemicals,

Inc.

10,780

2,547,745

Albemarle

Corp.

(b)

6,356

764,690

Amcor

PLC

78,793

704,409

Avery

Dennison

Corp.

4,224

917,791

Ball

Corp.

16,801

1,168,846

Celanese

Corp.,

Class

A

5,732

880,493

CF

Industries

Holdings,

Inc.

10,407

821,841

Corteva

,

Inc.

35,187

1,904,672

CRH

PLC

36,668

2,838,837

Dow,

Inc.

38,906

2,213,751

DuPont

de

Nemours,

Inc.

21,954

1,591,665

Ecolab,

Inc.

12,891

2,915,300

Freeport-McMoRan,

Inc.

72,212

3,606,267

International

Flavors

&

Fragrances,

Inc.,

Class

W

13,692

1,159,028

Linde

PLC

25,921

11,430,124

LyondellBasell

Industries

NV,

Class

A

13,732

1,372,788

Martin

Marietta

Materials,

Inc.

3,328

1,953,769

Mosaic

Co.

(The)

18,499

580,684

Newmont

Corp.

61,150

2,485,136

Nucor

Corp.

13,112

2,209,765

PPG

Industries,

Inc.

12,538

1,617,402

Sherwin-Williams

Co.

(The)

12,517

3,750,218

Southern

Copper

Corp.

(b)

4,334

505,648

Steel

Dynamics,

Inc.

7,974

1,037,577

Vulcan

Materials

Co.

6,908

1,779,708

Westlake

Corp.

1,612

237,544

52,995,698

Real

Estate

–

2.0%

Alexandria

Real

Estate

Equities,

Inc.

(c)

9,477

1,098,100

American

Tower

Corp.

(c)

24,002

4,117,783

AvalonBay

Communities,

Inc.

(c)

7,399

1,402,628

CBRE

Group,

Inc.,

Class

A

(a)

16,358

1,421,347

CoStar

Group,

Inc.

(a)

21,253

1,945,287

Crown

Castle,

Inc.

(c)

21,642

2,029,587

Digital

Realty

Trust,

Inc.

(c)

16,168

2,243,795

Equinix

,

Inc.

(c)

4,920

3,498,661

Equity

Residential

(c)

19,921

1,282,912

Essex

Property

Trust,

Inc.

(c)

3,382

832,818

Extra

Space

Storage,

Inc.

(c)

11,074

1,487,017

Healthpeak

Properties,

Inc.

(c)

34,724

646,214

Invitation

Homes,

Inc.

(c)

29,693

1,015,501

Iron

Mountain,

Inc.

(c)

14,302

1,108,691

Mid-America

Apartment

Communities,

Inc.

(c)

6,391

830,830

Prologis,

Inc.

(c)

47,466

4,843,905

Public

Storage

(c)

7,943

2,060,811

Realty

Income

Corp.

(c)

38,678

2,070,820

22

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Real

Estate

–

2.0%

(continued)

SBA

Communications

Corp.,

Class

A

(c)

5,742

1,068,701

Simon

Property

Group,

Inc.

(c)

17,284

2,428,921

Sun

Communities,

Inc.

(c)

6,620

736,938

UDR,

Inc.

(c)

16,751

637,878

Ventas,

Inc.

(c)

21,224

939,799

VICI

Properties,

Inc.,

Class

A

(c)

53,378

1,523,942

W.P.

Carey,

Inc.

(c)

11,972

656,544

Welltower

,

Inc.

(c)

27,530

2,623,058

Weyerhaeuser

Co.

(c)

38,569

1,163,627

45,716,115

Utilities

–

2.2%

Alliant

Energy

Corp.

13,108

652,778

Ameren

Corp.

13,942

1,029,896

American

Electric

Power

Co.,

Inc.

25,812

2,220,606

American

Water

Works

Co.,

Inc.

10,516

1,286,317

Atmos

Energy

Corp.

7,382

870,338

Avangrid

,

Inc.

6,927

253,043

CenterPoint

Energy,

Inc.

34,125

994,402

CMS

Energy

Corp.

15,805

957,941

Consolidated

Edison,

Inc.

17,782

1,678,621

Constellation

Energy

Corp.

17,193

3,196,866

Dominion

Energy,

Inc.

41,720

2,126,886

DTE

Energy

Co.

11,732

1,294,274

Duke

Energy

Corp.

39,333

3,864,861

Edison

International

20,019

1,422,550

Entergy

Corp.

11,698

1,247,826

Evergy

,

Inc.

13,873

727,639

Eversource

Energy

20,034

1,214,461

Exelon

Corp.

52,315

1,965,998

FirstEnergy

Corp.

29,323

1,124,244

NextEra

Energy,

Inc.

104,552

7,001,847

PG&E

Corp.

130,815

2,238,245

PPL

Corp.

40,092

1,100,926

Public

Service

Enterprise

Group,

Inc.

27,204

1,879,252

Sempra

31,690

2,269,955

Southern

Co.

(The)

56,547

4,156,204

WEC

Energy

Group,

Inc.

17,543

1,449,754

Xcel

Energy,

Inc.

29,601

1,590,462

49,816,192

Total

Common

Stocks

(cost

$1,887,104,496)

2,246,265,774

Investment

Companies

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$3,817,653)

3,817,653

3,817,653

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$511,356)

511,356

511,356

Total

Investments

(cost

$1,891,433,505)

99.9%

2,250,594,783

Cash

and

Receivables

(Net)

0.1%

1,286,585

Net

Assets

100.0%

2,251,881,368

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$23,413,922

and

the

value

of

the

collateral

was

$24,237,671,

consisting

of

cash

collateral

of

$511,356

and

U.S.

Government

&

Agency

securities

valued

at

$23,726,315.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

23

See

Notes

to

Financial

Statements

(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.

(e)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

29.5

Financials

13.0

Health

Care

12.2

Consumer

Discretionary

10.3

Communication

Services

9.2

Industrials

8.8

Consumer

Staples

6.0

Energy

4.1

Materials

2.4

Utilities

2.2

Real

Estate

2.0

Registered

Investment

Companies

0.2

99.9

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

2,097,480

21,524,447

(19,804,274)

3,817,653

113,117

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

11,438,096

(10,926,740)

511,356

41,589

2

Total

–

0.2%

2,097,480

32,962,543

(30,731,014)

4,329,009

154,706

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

(Depreciation)

($)

Futures

Long

S&P

500

E-mini

18

6/21/2024

4,716,808

4,560,300

(156,508)

Gross

Unrealized

Depreciation

(156,508)

24

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.6%

Communication

Services

–

2.3%

Interpublic

Group

of

Cos.,

Inc.

(The)

57,714

1,756,814

Liberty

Broadband

Corp.,

Class

A

(a)

2,428

121,716

Liberty

Broadband

Corp.,

Class

C

(a)

17,303

860,478

Match

Group,

Inc.

(a)

41,127

1,267,534

New

York

Times

Co.

(The),

Class

A

22,946

987,366

News

Corp.,

Class

A

56,815

1,352,197

News

Corp.,

Class

B

15,942

391,217

Nexstar

Media

Group,

Inc.,

Class

A

4,858

777,571

Paramount

Global,

Class

B

72,983

831,276

Roku,

Inc.,

Class

A

(a)

18,772

1,082,394

TKO

Group

Holdings,

Inc.,

Class

A

8,164

772,886

ZoomInfo

Technologies,

Inc.,

Class

A

(a)

41,701

661,378

10,862,827

Consumer

Discretionary

–

14.6%

ADT,

Inc.

52,809

343,258

Aramark

36,868

1,161,711

Autoliv,

Inc.

11,477

1,374,830

AutoNation,

Inc.

(a)

4,129

665,388

Bath

&

Body

Works,

Inc.

34,150

1,551,093

Birkenstock

Holding

PLC

(a)

3,552

159,023

BorgWarner,

Inc.

35,109

1,150,522

Boyd

Gaming

Corp.

10,481

560,838

Brunswick

Corp.

10,300

830,592

Burlington

Stores,

Inc.

(a)

9,719

1,748,837

Caesars

Entertainment,

Inc.

(a)

31,003

1,110,527

Capri

Holdings

Ltd.

(a)

17,402

617,423

CarMax,

Inc.

(a)

23,662

1,608,306

Carvana

Co.,

Class

A

(a)

14,370

1,191,560

Chewy,

Inc.,

Class

A

(a)

17,414

261,036

Choice

Hotels

International,

Inc.

(b)

4,618

546,125

Churchill

Downs,

Inc.

10,229

1,319,541

Crocs,

Inc.

(a)

8,858

1,101,669

Dick's

Sporting

Goods,

Inc.

8,525

1,713,013

Dillard's,

Inc.,

Class

A

1,222

535,224

Domino's

Pizza,

Inc.

5,320

2,815,716

Duolingo,

Inc.,

Class

A

(a)

4,817

1,087,438

Etsy,

Inc.

(a)

18,107

1,243,408

Five

Below,

Inc.

(a)

8,156

1,193,549

Floor

&

Decor

Holdings,

Inc.,

Class

A

(a)

15,755

1,738,249

Gap,

Inc.

(The)

29,653

608,480

Gentex

Corp.

35,023

1,201,289

H&R

Block,

Inc.

21,594

1,019,885

Hasbro,

Inc.

19,394

1,188,852

Hyatt

Hotels

Corp.,

Class

A

6,494

966,242

International

Game

Technology

PLC

15,963

315,110

Lear

Corp.

8,967

1,128,676

Levi

Strauss

&

Co.,

Class

A

14,305

303,552

Light

&

Wonder,

Inc.

(a)

13,555

1,209,919

Lithia

Motors,

Inc.,

Class

A

4,073

1,036,090

LKQ

Corp.

38,081

1,642,433

Lucid

Group,

Inc.

(a)(b)

124,982

318,704

Mattel,

Inc.

(a)

52,874

968,652

Mohawk

Industries,

Inc.

(a)

7,906

911,720

Murphy

USA,

Inc.

2,903

1,201,319

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

62,941

1,190,844

Penske

Automotive

Group,

Inc.

2,682

410,105

Planet

Fitness,

Inc.,

Class

A

(a)

12,338

738,306

Polaris,

Inc.

7,923

674,723

PVH

Corp.

9,057

985,402

Ralph

Lauren

Corp.,

Class

A

5,879

962,040

RH

(a)

2,256

557,345

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Consumer

Discretionary

–

14.6%

(continued)

Service

Corp.

International

21,736

1,558,689

SharkNinja,

Inc.

7,281

468,023

Skechers

USA,

Inc.,

Class

A

(a)

19,966

1,318,754

Tapestry,

Inc.

34,115

1,361,871

Tempur

Sealy

International,

Inc.

25,127

1,257,858

Texas

Roadhouse,

Inc.,

Class

A

10,040

1,614,231

Toll

Brothers,

Inc.

15,574

1,855,019

TopBuild

Corp.

(a)

4,732

1,914,898

Vail

Resorts,

Inc.

5,808

1,099,861

VF

Corp.

55,223

688,079

Wayfair,

Inc.,

Class

A

(a)(b)

13,394

671,709

Whirlpool

Corp.

8,021

760,872

Williams-Sonoma,

Inc.

9,054

2,596,506

Wingstop,

Inc.

4,375

1,683,456

Wyndham

Hotels

&

Resorts,

Inc.

12,257

901,012

Wynn

Resorts

Ltd.

14,640

1,341,756

68,261,158

Consumer

Staples

–

4.1%

BellRing

Brands,

Inc.

(a)

19,810

1,092,918

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

20,098

1,500,919

Casey's

General

Stores,

Inc.

5,570

1,780,060

Celsius

Holdings,

Inc.

(a)

22,799

1,624,885

Coca-Cola

Consolidated,

Inc.

724

598,024

Coty,

Inc.,

Class

A

(a)

53,888

616,479

Darling

Ingredients,

Inc.

(a)

23,792

1,008,067

e.l.f

Beauty,

Inc.

(a)

7,899

1,283,824

Ingredion,

Inc.

9,866

1,130,545

Lamb

Weston

Holdings,

Inc.

21,514

1,792,977

Maplebear,

Inc.

(a)

20,470

698,641

Molson

Coors

Beverage

Co.,

Class

B

26,160

1,497,921

Performance

Food

Group

Co.

(a)

22,794

1,547,257

Pilgrim's

Pride

Corp.

(a)

5,950

214,319

Post

Holdings,

Inc.

(a)

7,392

784,661

Reynolds

Consumer

Products,

Inc.

8,001

229,069

US

Foods

Holding

Corp.

(a)

34,209

1,719,002

19,119,568

Energy

–

5.5%

Antero

Midstream

Corp.

49,833

689,689

Antero

Resources

Corp.

(a)

41,778

1,420,870

APA

Corp.

46,284

1,455,169

Championx

Corp.

29,836

1,001,595

Chesapeake

Energy

Corp.

(b)

17,851

1,604,448

Chord

Energy

Corp.

6,061

1,072,676

Civitas

Resources,

Inc.

12,420

893,743

Hess

Midstream

LP,

Class

A

10,438

355,936

HF

Sinclair

Corp.

22,938

1,244,386

Matador

Resources

Co.

16,245

1,012,063

Murphy

Oil

Corp.

22,602

1,008,953

New

Fortress

Energy,

Inc.,

Class

A

12,227

320,347

Noble

Corp.

PLC

16,121

715,450

NOV,

Inc.

59,390

1,098,121

Ovintiv,

Inc.

36,568

1,876,670

PBF

Energy,

Inc.,

Class

A

16,242

865,211

Permian

Resources

Corp.,

Class

A

62,484

1,046,607

Range

Resources

Corp.

35,727

1,282,957

Scorpio

Tankers,

Inc.

6,909

486,117

Southwestern

Energy

Co.

(a)

162,270

1,215,402

TechnipFMC

PLC

65,799

1,685,770

Texas

Pacific

Land

Corp.

3,477

2,003,795

Weatherford

International

PLC

(a)

10,746

1,328,421

25,684,396

25

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Financials

–

13.3%

Affiliated

Managers

Group,

Inc.

5,017

783,154

Affirm

Holdings,

Inc.,

Class

A

(a)

33,983

1,083,378

AGNC

Investment

Corp.

(b)(c)

100,457

919,182

Ally

Financial,

Inc.

40,623

1,557,892

American

Financial

Group,

Inc.

10,763

1,374,973

Annaly

Capital

Management,

Inc.

(c)

73,432

1,376,116

Assurant,

Inc.

7,916

1,380,550

Axis

Capital

Holdings

Ltd.

11,466

703,210

BOK

Financial

Corp.

4,165

369,560

Carlyle

Group,

Inc.

(The)

32,780

1,468,544

CNA

Financial

Corp.

3,220

141,487

Comerica,

Inc.

19,721

989,403

Commerce

Bancshares,

Inc.

18,003

984,404

Corebridge

Financial,

Inc.

(b)

35,613

945,881

Credit

Acceptance

Corp.

(a)

1,272

653,452

Cullen/Frost

Bankers,

Inc.

8,990

938,017

Dlocal

Ltd.

(a)

12,537

178,151

East

West

Bancorp,

Inc.

21,090

1,570,994

Equitable

Holdings,

Inc.

50,723

1,872,186

Erie

Indemnity

Co.,

Class

A

3,769

1,442,246

Fidelity

National

Financial,

Inc.

38,838

1,922,481

First

American

Financial

Corp.

14,812

793,479

First

Horizon

Corp.

82,574

1,232,004

Globe

Life,

Inc.

14,033

1,068,894

Houlihan

Lokey,

Inc.,

Class

A

7,614

970,709

Invesco

Ltd.

49,724

704,589

Jack

Henry

&

Associates,

Inc.

10,876

1,769,416

Jefferies

Financial

Group,

Inc.

28,201

1,214,335

KeyCorp

140,037

2,029,136

Kinsale

Capital

Group,

Inc.

3,282

1,192,186

MarketAxess

Holdings,

Inc.

5,541

1,108,699

Morningstar,

Inc.

3,970

1,122,120

New

York

Community

Bancorp,

Inc.

99,740

264,311

Old

Republic

International

Corp.

39,489

1,179,142

Pinnacle

Financial

Partners,

Inc.

11,347

870,315

Popular,

Inc.

10,788

916,872

Primerica,

Inc.

5,256

1,113,536

Prosperity

Bancshares,

Inc.

13,418

831,513

Reinsurance

Group

of

America,

Inc.,

Class

A

9,906

1,852,323

RenaissanceRe

Holdings

Ltd.

7,550

1,655,337

RLI

Corp.

6,271

886,406

Robinhood

Markets,

Inc.,

Class

A

(a)

73,969

1,219,749

Ryan

Specialty

Holdings,

Inc.,

Class

A

14,667

723,670

SEI

Investments

Co.

15,083

994,724

Selective

Insurance

Group,

Inc.

8,915

906,210

Shift4

Payments,

Inc.,

Class

A

(a)(b)

8,468

489,958

SoFi

Technologies,

Inc.

(a)(b)

130,266

883,203

SouthState

Corp.

11,243

851,095

Starwood

Property

Trust,

Inc.

(b)(c)

44,832

850,463

Stifel

Financial

Corp.

14,849

1,186,732

Toast,

Inc.,

Class

A

(a)

54,861

1,296,365

TPG,

Inc.,

Class

A

9,703

418,199

Unum

Group

29,411

1,491,138

UWM

Holdings

Corp.

12,428

78,296

Voya

Financial,

Inc.

15,588

1,062,478

Webster

Financial

Corp.

27,342

1,198,400

Western

Alliance

Bancorp

16,167

918,771

WEX,

Inc.

(a)

6,411

1,354,388

Zions

Bancorp

NA

21,991

896,793

62,251,215

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Health

Care

–

10.1%

10X

Genomics,

Inc.,

Class

A

(a)

14,850

434,808

Acadia

Healthcare

Co.,

Inc.

(a)

13,461

995,306

Apellis

Pharmaceuticals,

Inc.

(a)

15,210

672,130

Bausch

+

Lomb

Corp.

(a)

5,576

81,075

Bio-Rad

Laboratories,

Inc.,

Class

A

(a)

3,157

851,601

Bio-Techne

Corp.

23,383

1,478,039

Bridgebio

Pharma,

Inc.

(a)

15,907

407,537

Bruker

Corp.

13,630

1,063,276

Catalent,

Inc.

(a)

27,309

1,525,208

Cerevel

Therapeutics

Holdings,

Inc.

(a)

11,191

477,968

Charles

River

Laboratories

International,

Inc.

(a)

7,532

1,724,828

Chemed

Corp.

2,196

1,247,328

Cytokinetics,

Inc.

(a)

14,549

892,145

DaVita,

Inc.

(a)

8,060

1,120,421

DENTSPLY

SIRONA,

Inc.

31,791

954,048

Elanco

Animal

Health,

Inc.

(a)

72,783

957,824

Encompass

Health

Corp.

14,956

1,247,031

Ensign

Group,

Inc.

(The)

8,113

960,255

Exact

Sciences

Corp.

(a)

26,846

1,593,310

Exelixis,

Inc.

(a)

42,336

993,203

Globus

Medical,

Inc.,

Class

A

(a)

17,584

875,507

HealthEquity,

Inc.

(a)

12,546

990,005

Henry

Schein,

Inc.

(a)

19,751

1,368,349

Inspire

Medical

Systems,

Inc.

(a)

4,318

1,043,488

Intra-Cellular

Therapies,

Inc.

(a)

13,484

968,286

Ionis

Pharmaceuticals,

Inc.

(a)

21,353

881,025

Jazz

Pharmaceuticals

PLC

(a)

9,432

1,044,594

Masimo

Corp.

(a)

6,628

890,869

Medpace

Holdings,

Inc.

(a)

3,513

1,364,274

Natera,

Inc.

(a)

16,595

1,541,344

Neurocrine

Biosciences,

Inc.

(a)

14,205

1,953,756

Option

Care

Health,

Inc.

(a)

24,999

747,220

Penumbra,

Inc.

(a)

5,528

1,086,086

QIAGEN

NV

32,921

1,393,546

Repligen

Corp.

(a)

7,809

1,282,238

Roivant

Sciences

Ltd.

(a)(b)

66,621

726,169

Sarepta

Therapeutics,

Inc.

(a)

13,158

1,666,592

Shockwave

Medical,

Inc.

(a)

5,385

1,778,073

Teleflex,

Inc.

7,037

1,468,974

Tenet

Healthcare

Corp.

(a)

15,071

1,692,323

United

Therapeutics

Corp.

(a)

6,841

1,603,051

Universal

Health

Services,

Inc.,

Class

B

7,757

1,322,025

47,365,135

Industrials

–

20.5%

Acuity

Brands,

Inc.

4,741

1,177,190

Advanced

Drainage

Systems,

Inc.

10,258

1,610,506

AECOM

20,369

1,881,281

AGCO

Corp.

9,392

1,072,472

Allegion

PLC

13,271

1,613,223

American

Airlines

Group,

Inc.

(a)

97,368

1,315,442

AO

Smith

Corp.

18,606

1,541,321

API

Group

Corp.

(a)

26,197

1,010,418

Applied

Industrial

Technologies,

Inc.

5,704

1,045,258

Atkore,

Inc.

5,548

972,564

Avis

Budget

Group,

Inc.

2,671

254,947

BWX

Technologies,

Inc.

13,675

1,309,655

CACI

International,

Inc.,

Class

A

(a)

3,295

1,325,348

CH

Robinson

Worldwide,

Inc.

17,370

1,233,270

Chart

Industries,

Inc.

(a)(b)

6,195

892,452

Clarivate

PLC

(a)

52,871

357,408

26

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Industrials

–

20.5%

(continued)

Clean

Harbors,

Inc.

(a)

7,644

1,448,156

Comfort

Systems

USA,

Inc.

5,258

1,626,878

Core

&

Main,

Inc.,

Class

A

(a)

14,217

802,834

Crane

Co.

7,301

1,022,213

Curtiss-Wright

Corp.

5,727

1,451,336

Dayforce,

Inc.

(a)

22,468

1,378,861

Donaldson

Co.,

Inc.

18,059

1,303,860

EMCOR

Group,

Inc.

7,064

2,523,049

ExlService

Holdings,

Inc.

(a)

24,070

698,030

Fluor

Corp.

(a)

25,482

1,027,689

Fortune

Brands

Innovations,

Inc.

18,982

1,387,584

FTI

Consulting,

Inc.

(a)

5,161

1,103,577

Generac

Holdings,

Inc.

(a)

9,188

1,249,200

Genpact

Ltd.

24,903

765,518

Graco,

Inc.

25,076

2,011,095

GXO

Logistics,

Inc.

(a)

17,828

885,338

Hexcel

Corp.

12,627

810,780

Huntington

Ingalls

Industries,

Inc.

5,874

1,626,687

ITT,

Inc.

12,352

1,597,608

KBR,

Inc.

20,305

1,318,607

Knight-Swift

Transportation

Holdings,

Inc.,

Class

A

23,694

1,095,374

Landstar

System,

Inc.

5,334

930,303

Leidos

Holdings,

Inc.

20,480

2,871,706

Lincoln

Electric

Holdings,

Inc.

8,420

1,848,443

Masco

Corp.

33,704

2,307,039

MasTec,

Inc.

(a)

9,639

854,883

Middleby

Corp.

(The)

(a)

7,982

1,109,258

MSA

Safety,

Inc.

5,523

996,349

NEXTracker,

Inc.,

Class

A

(a)

17,253

738,256

nVent

Electric

PLC

24,372

1,756,490

Oshkosh

Corp.

9,880

1,109,228

Owens

Corning

13,407

2,255,191

Parsons

Corp.

(a)

6,036

473,886

Paylocity

Holding

Corp.

(a)

6,511

1,010,247

Pentair

PLC

24,656

1,950,043

RBC

Bearings,

Inc.

(a)

4,277

1,045,940

Regal

Rexnord

Corp.

9,942

1,604,340

Robert

Half,

Inc.

15,802

1,092,550

Saia,

Inc.

(a)

3,985

1,581,368

Science

Applications

International

Corp.

7,747

997,039

Sensata

Technologies

Holding

PLC

22,881

876,571

Simpson

Manufacturing

Co.,

Inc.

6,345

1,103,332

SiteOne

Landscape

Supply,

Inc.

(a)

6,654

1,043,946

Snap-On,

Inc.

7,827

2,097,323

Tetra

Tech,

Inc.

7,930

1,544,130

Textron,

Inc.

29,242

2,473,581

Timken

Co.

(The)

9,582

854,906

Toro

Co.

(The)

15,579

1,364,565

Trex

Co.,

Inc.

(a)

16,185

1,433,182

TriNet

Group,

Inc.

4,849

486,694

UFP

Industries,

Inc.

9,045

1,019,371

U-Haul

Holding

Co.

(a)

1,409

89,091

U-Haul

Holding

Co.,

Class

B

15,054

923,111

Watsco,

Inc.

4,973

2,226,512

Watts

Water

Technologies,

Inc.,

Class

A

4,103

814,281

WESCO

International,

Inc.

6,690

1,021,897

Willscot

Mobile

Mini

Holdings

Corp.,

Class

A

(a)

27,984

1,034,289

Woodward,

Inc.

8,992

1,459,941

XPO,

Inc.

(a)

17,058

1,833,053

95,979,364

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Information

Technology

–

12.5%

Allegro

MicroSystems,

Inc.

(a)

10,846

322,018

Altair

Engineering,

Inc.,

Class

A

(a)

8,167

657,035

Amkor

Technology,

Inc.

17,523

566,869

Appfolio,

Inc.,

Class

A

(a)

2,819

639,293

AppLovin

Corp.,

Class

A

(a)

24,824

1,751,830

Arrow

Electronics,

Inc.

(a)

8,146

1,040,000

BILL

Holdings,

Inc.

(a)

15,060

939,142

CCC

Intelligent

Solutions

Holdings,

Inc.

(a)

29,061

326,065

Ciena

Corp.

(a)

21,591

998,152

Cognex

Corp.

26,074

1,083,114

Coherent

Corp.

(a)

19,589

1,070,147

Confluent,

Inc.,

Class

A

(a)

32,378

910,469

DocuSign,

Inc.,

Class

A

(a)

30,114

1,704,453

Dolby

Laboratories,

Inc.,

Class

A

8,735

678,360

DoubleVerify

Holdings,

Inc.

(a)

17,477

512,076

Dropbox,

Inc.,

Class

A

(a)

38,652

895,180

Dynatrace,

Inc.

(a)

39,449

1,787,434

Elastic

NV

(a)

12,401

1,267,630

F5,

Inc.

(a)

9,036

1,493,741

Fabrinet

(a)

5,423

938,559

Flex

Ltd.

(a)

64,768

1,855,603

Freshworks,

Inc.,

Class

A

(a)

25,712

458,959

GEN

Digital,

Inc.

93,210

1,877,249

Gitlab,

Inc.,

Class

A

(a)

12,127

636,304

Globant

SA

(a)

6,204

1,107,972

GoDaddy,

Inc.,

Class

A

(a)

19,941

2,440,380

Guidewire

Software,

Inc.

(a)

12,042

1,329,437

Informatica,

Inc.,

Class

A

(a)

7,589

235,031

Juniper

Networks,

Inc.

47,567

1,656,283

Klaviyo,

Inc.,

Class

A

(a)

5,645

126,448

Lattice

Semiconductor

Corp.

(a)

20,462

1,403,693

Littelfuse,

Inc.

3,613

833,302

MACOM

Technology

Solutions

Holdings,

Inc.

(a)

8,194

835,378

Manhattan

Associates,

Inc.

(a)

9,203

1,896,370

MicroStrategy,

Inc.,

Class

A

(a)(b)

2,058

2,191,832

MKS

Instruments,

Inc.

9,308

1,107,466

Novanta,

Inc.

(a)

5,342

836,023

Nutanix,

Inc.,

Class

A

(a)

36,460

2,213,122

Onto

Innovation,

Inc.

(a)

7,292

1,352,593

Procore

Technologies,

Inc.

(a)

12,290

840,882

Pure

Storage,

Inc.,

Class

A

(a)

45,089

2,272,486

Qorvo,

Inc.

(a)

14,911

1,742,201

Qualys,

Inc.

(a)

5,497

901,013

Rambus,

Inc.

(a)

16,245

890,551

SentinelOne,

Inc.,

Class

A

(a)

35,449

749,037

Smartsheet,

Inc.,

Class

A

(a)

19,302

730,195

SPS

Commerce,

Inc.

(a)

5,423

942,897

TD

Synnex

Corp.

7,715

909,136

Twilio,

Inc.,

Class

A

(a)

27,165

1,626,640

UiPath,

Inc.,

Class

A

(a)

58,399

1,107,829

Unity

Software,

Inc.

(a)(b)

37,353

906,557

Universal

Display

Corp.

6,610

1,044,248

58,638,684

Materials

–

6.6%

Alcoa

Corp.

26,758

940,276

Anglogold

Ashanti

PLC

(b)

63,015

1,448,715

AptarGroup,

Inc.

9,752

1,407,994

Arcadium

Lithium

PLC

(a)

154,604

680,258

Axalta

Coating

Systems

Ltd.

(a)

33,244

1,045,191

Berry

Global

Group,

Inc.

17,407

985,932

Cleveland-Cliffs,

Inc.

(a)

75,796

1,280,952

27

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Materials

–

6.6%

(continued)

Commercial

Metals

Co.

17,400

935,076

Crown

Holdings,

Inc.

17,929

1,471,433

Eagle

Materials,

Inc.

5,252

1,316,729

Eastman

Chemical

Co.

17,961

1,696,237

FMC

Corp.

18,722

1,104,785

Graphic

Packaging

Holding

Co.

45,550

1,177,468

International

Paper

Co.

51,655

1,804,826

Olin

Corp.

18,173

950,084

Packaging

Corp.

of

America

13,350

2,309,283

Reliance,

Inc.

8,571

2,440,335

Royal

Gold,

Inc.

9,884

1,187,365

RPM

International,

Inc.

19,146

2,046,899

Sealed

Air

Corp.

21,575

679,181

Sonoco

Products

Co.

14,887

834,416

United

States

Steel

Corp.

33,754

1,232,021

Westrock

Co.

38,206

1,832,360

30,807,816

Real

Estate

–

6.8%

Agree

Realty

Corp.

(c)

14,941

854,924

American

Homes

4

Rent,

Class

A

(c)

50,000

1,790,000

Americold

Realty

Trust,

Inc.

(c)

42,381

931,111

Apartment

Income

REIT

Corp.

(c)

21,972

843,285

Boston

Properties,

Inc.

(c)

21,583

1,335,772

Brixmor

Property

Group,

Inc.

(c)

44,943

993,240

Camden

Property

Trust

(c)

15,826

1,577,536

CubeSmart

(c)

33,518

1,355,468

EastGroup

Properties,

Inc.

(c)

6,889

1,070,275

Equity

LifeStyle

Properties,

Inc.

(c)

26,708

1,610,225

Federal

Realty

Investment

Trust

(c)

11,231

1,169,933

First

Industrial

Realty

Trust,

Inc.

(c)

20,025

909,535

Gaming

and

Leisure

Properties,

Inc.

(c)

37,907

1,619,766

Healthcare

Realty

Trust,

Inc.,

Class

A

(c)

57,490

818,083

Host

Hotels

&

Resorts,

Inc.

(c)

105,759

1,995,672

Jones

Lang

LaSalle,

Inc.

(a)

7,154

1,292,728

Kimco

Realty

Corp.

(c)

98,468

1,834,459

Lamar

Advertising

Co.,

Class

A

(c)

13,003

1,506,398

NNN

REIT,

Inc.

(c)

27,485

1,113,967

OMEGA

Healthcare

Investors,

Inc.

(c)

36,688

1,115,682

Regency

Centers

Corp.

(c)

25,004

1,480,737

Rexford

Industrial

Realty,

Inc.

(b)(c)

31,651

1,354,979

Ryman

Hospitality

Properties,

Inc.

(c)

8,810

929,279

STAG

Industrial,

Inc.

(c)

26,931

926,157

Zillow

Group,

Inc.,

Class

A

(a)

7,501

315,042

Zillow

Group,

Inc.,

Class

C

(a)

22,808

970,937

31,715,190

Utilities

–

3.3%

AES

Corp.

(The)

99,945

1,789,016

Brookfield

Renewable

Corp.,

Class

A

26,438

614,419

Essential

Utilities,

Inc.

41,073

1,502,450

NiSource,

Inc.

62,051

1,728,741

NRG

Energy,

Inc.

33,306

2,420,347

OGE

Energy

Corp.

30,219

1,047,088

Pinnacle

West

Capital

Corp.

17,241

1,269,800

UGI

Corp.

31,504

805,242

Vistra

Corp.

53,649

4,068,740

15,245,843

Total

Common

Stocks

(cost

$429,552,487)

465,931,196

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Investment

Companies

–

0.3%

Registered

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$1,189,237)

1,189,237

1,189,237

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.0%

Registered

Investment

Companies

–

1.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$4,566,967)

4,566,967

4,566,967

Total

Investments

(cost

$435,308,691)

100.9%

471,687,400

Liabilities,

Less

Cash

and

Receivables

(0.9)%

(4,088,837)

Net

Assets

100.0%

467,598,563

REIT—Real

Estate

Investment

Trust

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$11,518,681

and

the

value

of

the

collateral

was

$12,520,100,

consisting

of

cash

collateral

of

$4,566,967

and

U.S.

Government

&

Agency

securities

valued

at

$7,953,133.

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.

(e)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

28

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Industrials

20.5

Consumer

Discretionary

14.6

Financials

13.3

Information

Technology

12.5

Health

Care

10.1

Real

Estate

6.8

Materials

6.6

Energy

5.5

Consumer

Staples

4.1

Utilities

3.3

Communication

Services

2.3

Registered

Investment

Companies

1.3

100.9

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

360,984

8,864,862

(8,036,609)

1,189,237

32,892

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

992,299

43,184,620

(39,609,952)

4,566,967

26,439

2

Total

–

1.3%

1,353,283

52,049,482

(47,646,561)

5,756,204

59,331

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

(Depreciation)

($)

Futures

Long

S&P

MidCap

400

E-mini

3

6/21/2024

885,890

863,160

(22,730)

S&P

500

E-mini

2

6/21/2024

526,188

506,700

(19,488)

Gross

Unrealized

Depreciation

(42,218)

29

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.6%

Communication

Services

–

2.4%

Atlanta

Braves

Holdings,

Inc.,

Class

A

(a)

417

16,822

Atlanta

Braves

Holdings,

Inc.,

Class

C

(a)

2,729

102,147

Bumble,

Inc.,

Class

A

(a)

6,480

65,448

Cable

One,

Inc.

290

114,217

Cargurus,

Inc.,

Class

A

(a)

5,260

118,140

Cinemark

Holdings,

Inc.

(a)

6,988

119,774

Cogent

Communications

Holdings,

Inc.

2,769

177,714

EchoStar

Corp.,

Class

A

(a)

2,140

34,219

Frontier

Communications

Parent,

Inc.

(a)

14,222

329,097

IAC,

Inc.

(a)

4,779

227,289

Integral

Ad

Science

Holding

Corp.

(a)

3,739

35,857

Iridium

Communications,

Inc.

7,312

225,137

John

Wiley

&

Sons,

Inc.,

Class

A

2,711

101,852

Lions

Gate

Entertainment

Corp.,

Class

A

(a)

4,148

41,853

Lions

Gate

Entertainment

Corp.,

Class

B

(a)

8,191

77,241

Madison

Square

Garden

Sports

Corp.

(a)

1,045

194,286

Playtika

Holding

Corp.

2,925

21,206

TEGNA,

Inc.

12,640

172,410

TripAdvisor,

Inc.

(a)

6,776

178,412

United

States

Cellular

Corp.

(a)

883

32,106

Yelp,

Inc.,

Class

A

(a)

4,151

167,036

Ziff

Davis,

Inc.

(a)

2,931

146,872

2,699,135

Consumer

Discretionary

–

13.2%

Abercrombie

&

Fitch

Co.,

Class

A

(a)

3,138

381,330

Academy

Sports

&

Outdoors,

Inc.

4,735

276,050

Acushnet

Holdings

Corp.

1,927

117,508

Adient

Global

Holdings

Ltd.

5,961

178,055

Advance

Auto

Parts,

Inc.

3,794

276,886

American

Eagle

Outfitters,

Inc.

11,598

281,367

Arcos

Dorados

Holdings,

Inc.,

Class

A

7,984

86,068

Asbury

Automotive

Group,

Inc.

(a)

1,325

278,568

Boot

Barn

Holdings,

Inc.

(a)

1,918

204,209

Bowlero

Corp.

(b)

1,630

19,152

Bright

Horizons

Family

Solutions,

Inc.

(a)

3,681

381,757

Camping

World

Holdings,

Inc.,

Class

A

2,654

53,797

Carter's,

Inc.

2,365

161,790

Cava

Group,

Inc.

(a)

3,079

221,503

Cavco

Industries,

Inc.

(a)

498

181,377

Century

Communities,

Inc.

1,838

145,790

Cheesecake

Factory,

Inc.

(The)

3,067

105,873

Columbia

Sportswear

Co.

2,188

174,230

Coursera,

Inc.

(a)

6,835

69,854

Dana,

Inc.

9,168

113,958

Dorman

Products,

Inc.

(a)

1,684

147,266

Dream

Finders

Homes,

Inc.,

Class

A

(a)(b)

1,508

53,534

Dutch

Bros,

Inc.,

Class

A

(a)

3,769

106,135

Foot

Locker,

Inc.

5,221

108,858

Fox

Factory

Holding

Corp.

(a)

2,704

105,240

Frontdoor,

Inc.

(a)

5,151

158,084

GameStop

Corp.,

Class

A

(a)(b)

17,252

191,325

Goodyear

Tire

&

Rubber

Co.

(The)

(a)

18,298

218,844

Graham

Holdings

Co.,

Class

B

183

128,351

Grand

Canyon

Education,

Inc.

(a)

1,891

245,868

Group

1

Automotive,

Inc.

891

261,972

Harley-Davidson,

Inc.

8,182

281,379

Helen

of

Troy

Ltd.

(a)

1,540

142,773

Hilton

Grand

Vacations,

Inc.

(a)

4,982

207,450

Installed

Building

Products,

Inc.

1,522

358,781

KB

Home

4,893

316,871

Kohl's

Corp.

6,965

166,742

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Consumer

Discretionary

–

13.2%

(continued)

Kontoor

Brands,

Inc.

3,622

224,781

Krispy

Kreme,

Inc.

4,998

63,225

Laureate

Education,

Inc.,

Class

A

8,608

124,816

LCI

Industries

1,565

162,729

Leggett

&

Platt,

Inc.

8,474

153,125

LGI

Homes,

Inc.

(a)

1,327

119,337

Life

Time

Group

Holdings,

Inc.

(a)

3,789

51,758

M/I

Homes,

Inc.

(a)

1,780

206,872

Macy's,

Inc.

17,491

322,359

Marriott

Vacations

Worldwide

Corp.

2,143

205,964

Meritage

Homes

Corp.

2,315

383,688

Mister

Car

Wash,

Inc.

(a)(b)

5,922

39,618

Modine

Manufacturing

Co.

(a)

3,253

301,325

Newell

Brands,

Inc.

24,899

197,698

Nordstrom,

Inc.

6,280

119,383

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a)

3,966

290,073

Papa

John's

International,

Inc.

1,906

117,581

Peloton

Interactive,

Inc.,

Class

A

(a)

19,968

62,100

Penn

Entertainment,

Inc.

(a)

9,606

158,883

QuantumScape

Corp.,

Class

A

(a)(b)

22,268

120,693

Red

Rock

Resorts,

Inc.,

Class

A

3,169

168,337

Savers

Value

Village,

Inc.

(a)(b)

1,177

19,444

Shake

Shack,

Inc.,

Class

A

(a)

2,406

254,675

Signet

Jewelers

Ltd.

2,751

269,681

Skyline

Champion

Corp.

(a)

3,608

270,564

Sonos,

Inc.

(a)

7,396

124,992

Steven

Madden

Ltd.

4,630

187,098

Stride,

Inc.

(a)

2,618

174,752

Taylor

Morrison

Home

Corp.,

Class

A

(a)

6,798

380,756

Thor

Industries,

Inc.

3,274

325,501

Topgolf

Callaway

Brands

Corp.

(a)

9,091

145,638

Travel

+

Leisure

Co.

4,585

199,631

TRI

Pointe

Group,

Inc.

(a)

6,118

225,448

Under

Armour,

Inc.,

Class

A

(a)

12,130

81,635

Under

Armour,

Inc.,

Class

C

(a)

10,320

67,286

United

Parks

&

Resorts,

Inc.

(a)

2,029

103,114

Upbound

Group,

Inc.,

Class

A

3,195

99,077

Urban

Outfitters,

Inc.

(a)

4,082

159,035

Valvoline,

Inc.

(a)

8,326

354,022

Visteon

Corp.

(a)

1,800

199,134

Wendy's

Co.

(The)

10,974

219,370

Winnebago

Industries,

Inc.

1,824

112,322

Worthington

Enterprises,

Inc.

2,017

115,292

YETI

Holdings,

Inc.

(a)

5,526

197,389

14,788,796

Consumer

Staples

–

3.3%

Boston

Beer

Co.,

Inc.

(The),

Class

A

(a)

609

169,552

Cal-Maine

Foods,

Inc.

2,598

143,747

Central

Garden

&

Pet

Co.

(a)(b)

582

23,833

Central

Garden

&

Pet

Co.,

Class

A

(a)

3,303

117,025

Edgewell

Personal

Care

Co.

3,216

120,986

Energizer

Holdings,

Inc.

4,256

122,232

Flowers

Foods,

Inc.

12,059

300,751

Freshpet,

Inc.

(a)

3,013

319,589

Grocery

Outlet

Holding

Corp.

(a)

5,804

150,730

Inter

Parfums,

Inc.

1,151

133,953

J&J

Snack

Foods

Corp.

972

133,446

Lancaster

Colony

Corp.

1,244

237,368

MGP

Ingredients,

Inc.

893

70,047

National

Beverage

Corp.

(a)

1,349

60,031

PriceSmart,

Inc.

1,625

130,959

30

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Consumer

Staples

–

3.3%

(continued)

Primo

Water

Corp.

9,986

188,436

Simply

Good

Foods

Co.

(The)

(a)

5,803

211,519

Spectrum

Brands

Holdings,

Inc.

2,263

185,272

Sprouts

Farmers

Market,

Inc.

(a)

6,612

436,590

Tootsie

Roll

Industries,

Inc.

918

27,274

TreeHouse

Foods,

Inc.

(a)

3,227

121,174

Utz

Brands,

Inc.

4,256

76,736

WD-40

Co.

863

195,150

Weis

Markets,

Inc.

1,019

64,329

3,740,729

Energy

–

5.1%

Cactus,

Inc.,

Class

A

4,128

204,914

California

Resources

Corp.

4,401

232,637

CNX

Resources

Corp.

(a)

10,100

237,552

Comstock

Resources,

Inc.

(b)

5,968

60,038

CONSOL

Energy,

Inc.

1,947

161,134

Crescent

Energy

Co.,

Class

A

4,320

45,965

CVR

Energy,

Inc.

1,920

58,330

DT

Midstream,

Inc.

6,252

388,874

Equitrans

Midstream

Corp.

27,790

375,999

Expro

Group

Holdings

NV

(a)

6,687

125,448

Golar

LNG

Ltd.

6,325

155,089

Gulfport

Energy

Corp.

(a)

1,184

187,913

Helmerich

&

Payne,

Inc.

6,167

242,548

Kinetik

Holdings,

Inc.,

Class

A

1,711

65,600

Kosmos

Energy

Ltd.

(a)

29,099

164,991

Liberty

Energy,

Inc.,

Class

A

10,581

232,782

Magnolia

Oil

&

Gas

Corp.,

Class

A

11,261

282,313

Northern

Oil

&

Gas,

Inc.

5,810

236,990

Oceaneering

International,

Inc.

(a)

6,336

145,158

Patterson-UTI

Energy,

Inc.

25,021

270,727

Peabody

Energy

Corp.

7,072

155,160

Sitio

Royalties

Corp.,

Class

A

5,134

119,314

SM

Energy

Co.

7,401

358,874

Tidewater,

Inc.

(a)

3,116

286,205

Transocean

Ltd.

(a)

48,834

254,913

Uranium

Energy

Corp.

(a)

24,810

167,467

Valaris

Ltd.

(a)

4,015

261,216

Viper

Energy,

Inc.,

Class

A

5,163

197,020

5,675,171

Financials

–

16.3%

American

Equity

Investment

Life

Holding

Co.

3,952

221,747

Ameris

Bancorp

4,224

200,555

Arbor

Realty

Trust,

Inc.

(b)(c)

11,484

147,340

Artisan

Partners

Asset

Management,

Inc.,

Class

A

4,310

176,408

Associated

Banc-Corp.

9,590

202,061

Atlantic

Union

Bankshares

Corp.

4,761

151,257

Axos

Financial,

Inc.

(a)

3,344

169,240

BancFirst

Corp.

1,274

113,603

Bank

of

Hawaii

Corp.

2,496

141,498

Bank

OZK

6,978

311,568

BGC

Group,

Inc.,

Class

A

23,829

186,581

Blackstone

Mortgage

Trust,

Inc.,

Class

A

(b)(c)

10,595

186,896

Brighthouse

Financial,

Inc.

(a)

4,134

199,465

BRP

Group,

Inc.,

Class

A

(a)

4,004

106,667

Cadence

Bank

11,651

322,383

Cathay

General

Bancorp

4,440

152,914

CNO

Financial

Group,

Inc.

7,093

186,759

Cohen

&

Steers,

Inc.

(b)

1,628

111,974

Columbia

Banking

System,

Inc.

13,394

251,941

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Financials

–

16.3%

(continued)

Columbia

Financial,

Inc.

(a)

1,721

28,569

Community

Bank

System,

Inc.

3,434

148,417

CVB

Financial

Corp.

8,373

136,815

Eastern

Bankshares,

Inc.

10,135

127,296

Enact

Holdings,

Inc.

1,945

57,825

Enstar

Group

Ltd.

(a)

868

252,041

Essent

Group

Ltd.

6,707

355,270

Euronet

Worldwide,

Inc.

(a)

2,808

288,325

Evercore,

Inc.,

Class

A

2,262

410,553

EVERTEC,

Inc.

4,172

156,575

F&G

Annuities

&

Life,

Inc.

1,208

45,687

Federated

Hermes,

Inc.,

Class

B

5,239

172,101

First

BanCorp.

10,839

186,973

First

Financial

Bancorp

6,073

134,274

First

Financial

Bankshares,

Inc.

8,878

262,434

First

Hawaiian,

Inc.

8,230

173,571

First

Interstate

BancSystem,

Inc.,

Class

A

5,799

154,833

FirstCash

Holdings,

Inc.

2,448

276,575

Flywire

Corp.

(a)

6,029

123,594

FNB

Corp.

23,041

307,367

Freedom

Holding

Corp.

(a)

1,106

75,219

Fulton

Financial

Corp.

10,513

173,990

Genworth

Financial,

Inc.,

Class

A

(a)

28,849

171,075

Glacier

Bancorp,

Inc.

7,074

255,937

Goosehead

Insurance,

Inc.,

Class

A

(a)

1,377

78,365

Hamilton

Lane,

Inc.,

Class

A

2,171

242,544

Hancock

Whitney

Corp.

5,463

247,966

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

(b)

7,011

175,345

Hanover

Insurance

Group,

Inc.

(The)

2,293

297,677

Home

BancShares,

Inc.

12,060

285,581

Independent

Bank

Corp.

2,827

142,028

International

Bancshares

Corp.

3,429

190,824

Jackson

Financial,

Inc.,

Class

A

4,606

314,682

Janus

Henderson

Group

PLC

8,537

266,525

Kemper

Corp.

3,865

225,368

Lazard,

Inc.,

Class

A

7,043

271,155

Lincoln

National

Corp.

10,841

295,634

Marqeta,

Inc.,

Class

A

(a)

26,906

149,328

MGIC

Investment

Corp.

17,695

358,855

Moelis

&

Co.,

Class

A

4,247

208,443

Mr.

Cooper

Group,

Inc.

(a)

4,189

323,391

Nelnet,

Inc.,

Class

A

826

77,793

NMI

Holdings,

Inc.,

Class

A

(a)

5,067

156,368

Old

National

Bancorp

18,701

309,315

OneMain

Holdings,

Inc.,

Class

A

7,722

402,393

Pacific

Premier

Bancorp,

Inc.

6,082

130,763

Payoneer

Global,

Inc.

(a)

16,607

82,039

PennyMac

Financial

Services,

Inc.

2,550

218,382

Piper

Sandler

Cos.

1,103

215,956

Radian

Group,

Inc.

9,790

292,427

Remitly

Global,

Inc.

(a)

8,785

156,637

Rithm

Capital

Corp.

(c)

31,033

345,087

ServisFirst

Bancshares,

Inc.

3,206

189,026

Simmons

First

National

Corp.,

Class

A

8,050

137,574

SLM

Corp.

13,193

279,560

StepStone

Group,

Inc.,

Class

A

3,367

121,448

Synovus

Financial

Corp.

9,360

334,994

Texas

Capital

Bancshares,

Inc.

(a)

3,041

174,553

TFS

Financial

Corp.

3,326

39,945

Toledo

Hospital

(The)

3,527

270,521

UMB

Financial

Corp.

2,814

224,163

31

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Financials

–

16.3%

(continued)

United

Bankshares,

Inc.

8,530

276,884

United

Community

Banks,

Inc.

7,603

191,824

Upstart

Holdings,

Inc.

(a)(b)

4,741

104,918

Valley

National

Bancorp

27,464

192,523

Virtu

Financial,

Inc.,

Class

A

5,553

120,500

WaFd,

Inc.

4,121

111,638

Walker

&

Dunlop,

Inc.

2,040

186,925

Western

Union

Co.

(The)

23,477

315,531

Wintrust

Financial

Corp.

3,919

378,732

WSFS

Financial

Corp.

3,928

167,843

18,296,146

Health

Care

–

11.6%

ACADIA

Pharmaceuticals,

Inc.

(a)

10,193

170,325

agilon

health,

Inc.

(a)(b)

19,097

105,033

Alkermes

PLC

(a)

10,144

248,934

Amedisys,

Inc.

(a)

2,063

189,899

Amicus

Therapeutics,

Inc.

(a)

16,952

169,350

AMN

Healthcare

Services,

Inc.

(a)

2,428

145,631

Amphastar

Pharmaceuticals,

Inc.

(a)

2,301

94,916

Arrowhead

Pharmaceuticals,

Inc.

(a)

6,501

147,053

Arvinas,

Inc.

(a)

4,032

128,097

Astrana

Health,

Inc.

(a)

3,013

111,933

AtriCure,

Inc.

(a)

2,947

71,082

Axonics,

Inc.

(a)

3,201

213,091

Axsome

Therapeutics,

Inc.

(a)(b)

2,341

172,672

Azenta,

Inc.

(a)

3,233

169,603

Beam

Therapeutics,

Inc.

(a)

4,787

101,580

Biohaven

Ltd.

(a)

4,519

175,337

Blueprint

Medicines

Corp.

(a)

3,819

348,827

Certara,

Inc.

(a)

5,428

92,873

CONMED

Corp.

1,965

133,581

Corcept

Therapeutics,

Inc.

(a)

5,873

136,958

CorVel

Corp.

(a)

570

136,144

Crinetics

Pharmaceuticals,

Inc.

(a)

3,800

166,516

Denali

Therapeutics,

Inc.

(a)

7,266

112,187

Doximity,

Inc.,

Class

A

(a)

7,425

180,353

Enovis

Corp.

(a)

3,224

178,062

Envista

Holdings

Corp.

(a)

11,109

218,625

Evolent

Health,

Inc.,

Class

A

(a)

7,049

195,539

Fortrea

Holdings,

Inc.

(a)

5,671

207,502

Glaukos

Corp.

(a)

3,004

288,384

GoodRx

Holdings,

Inc.,

Class

A

(a)

5,726

40,655

Guardant

Health,

Inc.

(a)

7,474

134,532

Haemonetics

Corp.

(a)

3,228

296,815

Halozyme

Therapeutics,

Inc.

(a)

8,457

322,212

Harmony

Biosciences

Holdings,

Inc.

(a)

2,034

62,871

ICU

Medical,

Inc.

(a)

1,300

127,296

Immunovant,

Inc.

(a)

3,582

98,290

Inari

Medical,

Inc.

(a)

3,098

115,679

Insmed,

Inc.

(a)

9,175

226,806

Integer

Holdings

Corp.

(a)

2,129

237,660

Integra

LifeSciences

Holdings

Corp.

(a)

4,379

127,735

Intellia

Therapeutics,

Inc.

(a)

5,633

120,546

iRhythm

Technologies,

Inc.

(a)

1,950

213,681

Krystal

Biotech,

Inc.

(a)

1,541

235,958

Lantheus

Holdings,

Inc.

(a)

4,325

287,785

LifeStance

Health

Group,

Inc.

(a)

5,389

33,304

LivaNova

PLC

(a)

3,470

193,453

Madrigal

Pharmaceuticals,

Inc.

(a)(b)

937

191,167

Maravai

LifeSciences

Holdings,

Inc.,

Class

A

(a)

7,104

58,253

Merit

Medical

Systems,

Inc.

(a)

3,635

269,354

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Health

Care

–

11.6%

(continued)

Neogen

Corp.

(a)

13,870

171,017

Nuvalent,

Inc.,

Class

A

(a)

1,695

116,752

Organon

&

Co.

16,325

303,808

Pacific

Biosciences

of

California,

Inc.

(a)(b)

17,167

28,326

Patterson

Cos.,

Inc.

5,354

136,366

Perrigo

Co.

PLC

8,722

284,861

Premier,

Inc.,

Class

A

7,581

158,291

Prestige

Consumer

Healthcare,

Inc.

(a)

3,140

225,326

Privia

Health

Group,

Inc.

(a)

5,999

110,382

PROCEPT

BioRobotics

Corp.

(a)(b)

2,787

147,655

Progyny,

Inc.

(a)

5,331

170,912

PTC

Therapeutics,

Inc.

(a)

4,669

150,108

QuidelOrtho

Corp.

(a)

3,091

125,340

R1

RCM,

Inc.

(a)

12,360

151,904

Radnet,

Inc.

(a)

3,833

185,901

Recursion

Pharmaceuticals,

Inc.,

Class

A

(a)(b)

8,568

67,002

REVOLUTION

Medicines,

Inc.

(a)

9,875

368,140

Rhythm

Pharmaceuticals,

Inc.

(a)

3,651

145,164

Rocket

Pharmaceuticals,

Inc.

(a)

3,253

70,005

Schrodinger,

Inc.

(a)

3,914

95,423

Select

Medical

Holdings

Corp.

6,473

183,639

Sotera

Health

Co.

(a)

6,333

70,930

Springworks

Therapeutics,

Inc.

(a)

4,297

200,627

Surgery

Partners,

Inc.

(a)

4,827

120,434

Teladoc

Health,

Inc.

(a)(b)

10,498

133,850

TG

Therapeutics,

Inc.

(a)

8,342

113,952

TransMedics

Group,

Inc.

(a)

2,039

191,931

Ultragenyx

Pharmaceutical,

Inc.

(a)

5,060

215,252

Vaxcyte,

Inc.

(a)

5,444

329,634

12,977,071

Industrials

–

18.5%

AAON,

Inc.

4,340

408,351

ABM

Industries,

Inc.

4,002

174,887

ACV

Auctions,

Inc.,

Class

A

(a)

7,787

135,883

AeroVironment,

Inc.

(a)

1,786

285,385

Air

Lease

Corp.,

Class

A

6,660

334,598

Alamo

Group,

Inc.

608

118,183

Alaska

Air

Group,

Inc.

(a)

8,242

354,571

Albany

International

Corp.,

Class

A

2,000

159,500

Alight,

Inc.,

Class

A

(a)

25,891

233,537

Allison

Transmission

Holdings,

Inc.

5,831

428,870

ArcBest

Corp.

1,509

167,363

Arcosa,

Inc.

3,099

235,586

Armstrong

World

Industries,

Inc.

2,802

321,894

Array

Technologies,

Inc.

(a)

9,512

117,378

ASGN,

Inc.

(a)

3,029

292,147

AZEK

Co.,

Inc.

(The),

Class

A

(a)

9,198

419,797

Beacon

Roofing

Supply,

Inc.

(a)

3,749

369,389

Bloom

Energy

Corp.,

Class

A

(a)(b)

13,540

150,700

Boise

Cascade

Co.

2,535

335,304

Brady

Corp.,

Class

A

2,831

167,029

Brink's

Co.

(The)

2,847

248,999

Casella

Waste

Systems,

Inc.,

Class

A

(a)

3,648

329,779

CBIZ,

Inc.

(a)

3,065

218,167

Concentrix

Corp.

2,954

161,495

Copa

Holdings

SA,

Class

A

2,052

195,966

CSW

Industrials,

Inc.

984

233,818

Driven

Brands

Holdings,

Inc.

(a)

3,870

55,457

Dun

&

Bradstreet

Holdings,

Inc.

17,730

161,343

Dycom

Industries,

Inc.

(a)

1,814

253,996

Encore

Wire

Corp.

974

272,097

32

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Industrials

–

18.5%

(continued)

EnerSys

2,609

235,984

Enovix

Corp.

(a)(b)

8,900

55,714

Enpro,

Inc.

1,333

200,123

Esab

Corp.

3,639

385,297

ESCO

Technologies,

Inc.

1,632

165,566

Exponent,

Inc.

3,246

298,340

Federal

Signal

Corp.

3,844

312,517

First

Advantage

Corp.

3,140

51,182

Flowserve

Corp.

8,417

396,946

Fluence

Energy,

Inc.,

Class

A

(a)

3,894

69,469

Franklin

Electric

Co.,

Inc.

2,564

246,836

FTAI

Aviation

Ltd.

6,387

448,431

Gates

Industrial

Corp.

PLC

(a)

10,733

189,115

GATX

Corp.

2,253

275,677

GMS,

Inc.

(a)

2,559

236,759

Griffon

Corp.

2,908

190,532

Hayward

Holdings,

Inc.

(a)

5,550

75,369

Herc

Holdings,

Inc.

1,805

258,169

Hertz

Global

Holdings,

Inc.

(a)

8,041

36,587

Hillenbrand,

Inc.

4,439

211,829

Hub

Group,

Inc.,

Class

A

3,930

158,065

ICF

International,

Inc.

1,196

172,571

Insperity,

Inc.

2,269

233,548

JetBlue

Airways

Corp.

(a)

21,359

121,319

Joby

Aviation,

Inc.

(a)(b)

21,485

108,499

John

Bean

Technologies

Corp.

2,017

179,695

Kadant,

Inc.

741

202,878

Kennametal,

Inc.

4,922

115,815

Kirby

Corp.

(a)

3,777

412,184

Korn

Ferry

3,300

200,376

Kratos

Defense

&

Security

Solutions,

Inc.

(a)

8,042

143,308

Leonardo

DRS,

Inc.

(a)

3,352

72,135

Lyft,

Inc.,

Class

A

(a)

21,103

330,051

ManpowerGroup,

Inc.

3,089

233,065

Matson,

Inc.

2,205

237,655

MAXIMUS,

Inc.

3,885

311,888

McGrath

RentCorp

1,569

167,350

MDU

Resources

Group,

Inc.

12,368

305,490

Mercury

Systems,

Inc.

(a)

3,615

101,943

Moog,

Inc.,

Class

A

1,806

287,280

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

2,856

260,581

Mueller

Industries,

Inc.

7,264

405,477

Mueller

Water

Products,

Inc.,

Class

A

9,817

155,501

Net

Power,

Inc.

(a)

1,663

18,127

Paycor

HCM,

Inc.

(a)

4,413

76,654

Plug

Power,

Inc.

(a)(b)

35,379

81,726

Resideo

Technologies,

Inc.

(a)

9,288

181,395

Rocket

Lab

USA,

Inc.

(a)(b)

18,761

70,541

Rush

Enterprises,

Inc.,

Class

A

3,953

173,616

RXO,

Inc.

(a)

7,451

140,898

Ryder

System,

Inc.

2,817

343,251

Schneider

National,

Inc.,

Class

B

2,431

50,273

Shoals

Technologies

Group,

Inc.,

Class

A

(a)

10,658

90,060

Spirit

AeroSystems

Holdings,

Inc.,

Class

A

(a)

7,384

236,288

Spirit

Airlines,

Inc.

6,819

24,071

SPX

Technologies,

Inc.

(a)

2,820

343,504

Stericycle,

Inc.

(a)

5,946

265,965

Sterling

Infrastructure,

Inc.

(a)

1,921

195,174

Sunrun,

Inc.

(a)

13,516

139,080

Tecnoglass,

Inc.

1,469

81,603

Terex

Corp.

4,236

237,428

Trinity

Industries,

Inc.

5,220

135,824

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Industrials

–

18.5%

(continued)

UniFirst

Corp.

924

147,960

Valmont

Industries,

Inc.

1,322

270,746

Verra

Mobility

Corp.,

Class

A

(a)

9,897

233,371

Vestis

Corp.

7,946

146,365

Vicor

Corp.

(a)

1,488

48,181

Werner

Enterprises,

Inc.

4,028

137,758

Zurn

Elkay

Water

Solutions

Corp.

9,191

287,495

20,755,939

Information

Technology

–

12.6%

ACI

Worldwide,

Inc.

(a)

6,859

233,892

Advanced

Energy

Industries,

Inc.

2,382

228,291

Agilysys,

Inc.

(a)

1,475

122,499

Alarm.com

Holdings,

Inc.

(a)

3,033

201,695

Ambarella,

Inc.

(a)

2,400

110,328

Appian

Corp.,

Class

A

(a)

2,582

96,670

Asana,

Inc.,

Class

A

(a)

5,141

76,447

Aurora

Innovation,

Inc.,

Class

A

(a)

49,329

136,888

Avnet,

Inc.

5,839

285,352

Axcelis

Technologies,

Inc.

(a)

2,089

216,253

Badger

Meter,

Inc.

1,877

343,341

Belden,

Inc.

2,653

215,609

Blackbaud,

Inc.

(a)

2,778

216,462

BlackLine,

Inc.

(a)

3,271

189,882

Box,

Inc.,

Class

A

(a)

8,908

231,786

Braze,

Inc.,

Class

A

(a)

3,191

133,703

C3.ai,

Inc.,

Class

A

(a)(b)

5,455

122,901

Calix,

Inc.

(a)

3,801

105,402

Cirrus

Logic,

Inc.

(a)

3,513

311,146

Clear

Secure,

Inc.,

Class

A

5,420

94,687

Clearwater

Analytics

Holdings,

Inc.,

Class

A

(a)

7,118

112,322

CommVault

Systems,

Inc.

(a)

2,791

285,994

Crane

NXT

Co.

3,086

187,660

Credo

Technology

Group

Holding

Ltd.

(a)

8,067

144,157

DigitalOcean

Holdings,

Inc.

(a)

3,415

112,217

Diodes,

Inc.

(a)

2,858

208,663

DXC

Technology

Co.

(a)

12,438

242,417

Envestnet,

Inc.

(a)

2,218

137,671

Extreme

Networks,

Inc.

(a)

8,116

90,899

Fastly,

Inc.,

Class

A

(a)

7,820

98,923

Five9,

Inc.

(a)

4,663

268,449

FormFactor,

Inc.

(a)

4,910

218,937

HashiCorp,

Inc.,

Class

A

(a)

7,332

237,997

Insight

Enterprises,

Inc.

(a)

1,779

324,792

Instructure

Holdings,

Inc.

(a)

1,238

23,683

Intapp,

Inc.

(a)

2,082

64,375

InterDigital,

Inc.

1,654

163,299

IonQ,

Inc.

(a)(b)

10,809

92,417

IPG

Photonics

Corp.

(a)

1,871

157,127

Itron,

Inc.

(a)

2,886

265,858

Jamf

Holding

Corp.

(a)

3,495

68,048

JFrog

Ltd.

(a)

4,772

190,307

Kulicke

&

Soffa

Industries,

Inc.

3,546

164,109

Kyndryl

Holdings,

Inc.

(a)

14,495

284,972

LiveRamp

Holdings,

Inc.

(a)

4,200

134,862

Lumentum

Holdings,

Inc.

(a)

4,223

184,799

Marathon

Digital

Holdings,

Inc.

(a)

14,386

231,039

MaxLinear,

Inc.,

Class

A

(a)

4,723

98,191

N-able,

Inc.

(a)

3,917

48,022

nCino,

Inc.

(a)

3,999

116,611

NCR

Voyix

Corp.

(a)

8,343

102,202

PagerDuty,

Inc.

(a)

5,544

110,658

33

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Information

Technology

–

12.6%

(continued)

Pegasystems,

Inc.

2,513

149,322

Perficient,

Inc.

(a)

2,178

102,932

Plexus

Corp.

(a)

1,754

177,172

Power

Integrations,

Inc.

3,640

242,861

PowerSchool

Holdings,

Inc.,

Class

A

(a)

3,694

63,980

Progress

Software

Corp.

2,766

137,802

Q2

Holdings,

Inc.

(a)

3,582

184,079

Rapid7,

Inc.

(a)

3,783

169,478

RingCentral,

Inc.,

Class

A

(a)

5,312

157,341

Riot

Platforms,

Inc.

(a)(b)

13,118

132,623

Rogers

Corp.

(a)

1,189

141,598

Sanmina

Corp.

(a)

3,561

216,046

Silicon

Laboratories,

Inc.

(a)

2,022

245,653

SiTime

Corp.

(a)

1,127

100,438

SolarEdge

Technologies,

Inc.

(a)

3,631

212,958

Sprinklr,

Inc.,

Class

A

(a)(b)

7,748

90,574

Sprout

Social,

Inc.,

Class

A

(a)

2,992

150,946

Squarespace,

Inc.,

Class

A

(a)

3,659

127,553

Synaptics,

Inc.

(a)

2,472

222,381

Tenable

Holdings,

Inc.

(a)

7,289

327,786

Teradata

Corp.

(a)

6,265

232,432

Varonis

Systems,

Inc.,

Class

B

(a)

6,855

299,906

Vertex,

Inc.,

Class

A

(a)

3,110

90,594

Viasat,

Inc.

(a)(b)

6,235

99,199

Viavi

Solutions,

Inc.

(a)

14,031

110,845

Vishay

Intertechnology,

Inc.

8,179

189,262

Vontier

Corp.

9,948

404,187

Wolfspeed,

Inc.

(a)(b)

7,912

213,861

Workiva,

Inc.,

Class

A

(a)

3,187

251,136

Xerox

Holdings

Corp.

7,321

97,296

14,187,152

Materials

–

6.3%

Alpha

Metallurgical

Resources,

Inc.

725

237,162

Arch

Resources,

Inc.

(b)

1,132

179,739

Ashland,

Inc.

3,298

314,398

ATI,

Inc.

(a)

8,197

489,361

Avient

Corp.

5,460

231,613

Balchem

Corp.

2,063

291,667

Cabot

Corp.

3,575

326,147

Carpenter

Technology

Corp.

3,037

260,271

Chemours

Co.

(The)

9,546

255,356

Constellium

SE

(a)

8,053

158,564

Element

Solutions,

Inc.

14,312

331,037

Ginkgo

Bioworks

Holdings,

Inc.

(a)(b)

84,670

75,450

Greif,

Inc.,

Class

A

1,575

96,516

HB

Fuller

Co.

3,462

258,646

Hecla

Mining

Co.

37,028

175,142

Huntsman

Corp.

10,562

252,009

Innospec,

Inc.

1,593

191,160

Knife

River

Corp.

(a)

3,410

266,628

Louisiana-Pacific

Corp.

4,112

300,957

Materion

Corp.

1,311

150,686

Minerals

Technologies,

Inc.

2,083

151,830

MP

Materials

Corp.

(a)

8,591

137,456

NewMarket

Corp.

443

233,426

O-I

Glass,

Inc.,

Class

I

(a)

9,844

147,266

Quaker

Chemical

Corp.

890

166,012

Scotts

Miracle-GRO

Co.

(The)

(b)

2,690

184,373

Sensient

Technologies

Corp.

2,274

166,502

Silgan

Holdings,

Inc.

5,102

238,059

Stepan

Co.

1,371

113,779

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Materials

–

6.3%

(continued)

Summit

Materials,

Inc.,

Class

A

(a)

7,570

294,473

Tronox

Holdings

PLC,

Class

A

7,487

127,204

Warrior

Met

Coal,

Inc.

3,301

225,623

7,028,512

Real

Estate

–

6.4%

Apple

Hospitality

REIT,

Inc.

(c)

13,663

201,666

Broadstone

NET

Lease,

Inc.,

Class

A

(c)

11,943

173,890

CareTrust

REIT,

Inc.

(c)

7,627

188,539

COPT

Defense

Properties

(c)

7,202

172,632

Cousins

Properties,

Inc.

(c)

9,693

222,357

Cushman

&

Wakefield

PLC

(a)

10,605

102,338

DigitalBridge

Group,

Inc.

10,418

171,272

Douglas

Emmett,

Inc.

(c)

10,249

140,514

EPR

Properties

(c)

4,793

194,548

Equity

Commonwealth

(a)(c)

6,523

122,111

Essential

Properties

Realty

Trust,

Inc.

(c)

9,906

260,924

eXp

World

Holdings,

Inc.

(b)

4,817

47,977

Four

Corners

Property

Trust,

Inc.

(c)

5,840

136,948

Highwoods

Properties,

Inc.

(c)

6,753

176,929

Howard

Hughes

Holdings,

Inc.

(a)

3,221

209,880

Independence

Realty

Trust,

Inc.

(c)

14,387

226,883

Innovative

Industrial

Properties,

Inc.,

Class

A

(c)

1,792

185,293

JBG

SMITH

Properties

(c)

5,530

83,005

Kilroy

Realty

Corp.

(c)

7,536

254,717

Kite

Realty

Group

Trust

(c)

14,056

306,421

LXP

Industrial

Trust,

Class

B

(c)

18,562

154,993

Macerich

Co.

(The)

(c)

13,743

189,104

Medical

Properties

Trust,

Inc.

(b)(c)

37,931

174,483

National

Health

Investors,

Inc.

(c)

2,688

169,505

National

Storage

Affiliates

Trust

(c)

4,700

164,688

Opendoor

Technologies,

Inc.

(a)

36,250

72,137

Outfront

Media,

Inc.

(c)

8,554

135,666

Park

Hotels

&

Resorts,

Inc.

(c)

13,368

215,626

Phillips

Edison

&

Co.,

Inc.

(c)

7,544

246,689

PotlatchDeltic

Corp.

(c)

5,068

202,771

Rayonier,

Inc.

(c)

9,500

281,770

Retail

Opportunity

Investments

Corp.

(c)

7,954

97,596

Sabra

Health

Care

REIT,

Inc.

(c)

14,703

204,666

SITE

Centers

Corp.

(c)

12,189

164,430

SL

Green

Realty

Corp.

(c)

4,128

205,698

St.

Joe

Co.

(The)

3,546

202,831

Tanger,

Inc.

(c)

6,546

185,579

Terreno

Realty

Corp.

(c)

5,315

288,870

Vornado

Realty

Trust

(b)(c)

10,043

261,419

7,197,365

Utilities

–

3.9%

ALLETE,

Inc.

3,680

217,930

American

States

Water

Co.

2,369

167,820

Avista

Corp.

4,931

177,417

Black

Hills

Corp.

4,392

241,121

California

Water

Service

Group

3,689

181,204

Clearway

Energy,

Inc.,

Class

A

2,169

47,089

Clearway

Energy,

Inc.,

Class

C

5,247

122,675

IDACORP,

Inc.,

Class

Rights

3,230

306,139

MGE

Energy,

Inc.

2,327

182,251

National

Fuel

Gas

Co.

5,797

307,821

New

Jersey

Resources

Corp.

6,246

272,888

NextEra

Energy

Partners

LP

(b)

5,923

167,976

Northwestern

Energy

Group,

Inc.

3,840

193,690

ONE

Gas,

Inc.

3,514

226,723

Ormat

Technologies,

Inc.

3,481

222,192

34

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.6%

(continued)

Utilities

–

3.9%

(continued)

Otter

Tail

Corp.

2,404

205,205

PNM

Resources,

Inc.

5,471

202,755

Portland

General

Electric

Co.

6,517

281,730

SJW

Group

1,887

102,747

Southwest

Gas

Holdings,

Inc.

4,586

342,207

Spire,

Inc.

3,285

202,980

4,372,560

Total

Common

Stocks

(cost

$109,225,777)

111,718,576

Investment

Companies

–

0.3%

Registered

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$325,317)

325,317

325,317

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.8%

Registered

Investment

Companies

–

1.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(d)(e)

(cost

$1,998,010)

1,998,010

1,998,010

Total

Investments

(cost

$111,549,104)

101.7%

114,041,903

Liabilities,

Less

Cash

and

Receivables

(1.7)%

(1,904,801)

Net

Assets

100.0%

112,137,103

REIT—Real

Estate

Investment

Trust

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$4,015,591

and

the

value

of

the

collateral

was

$4,227,889,

consisting

of

cash

collateral

of

$1,998,010

and

U.S.

Government

&

Agency

securities

valued

at

$2,229,879.

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.

(e)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Industrials

18.5

Financials

16.3

Consumer

Discretionary

13.2

Information

Technology

12.6

Health

Care

11.6

Real

Estate

6.4

Materials

6.3

Energy

5.1

Utilities

3.9

Consumer

Staples

3.3

Communication

Services

2.4

Registered

Investment

Companies

2.1

101.7

†

Based

on

net

assets.

35

See

Notes

to

Financial

Statements

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

124,243

3,089,066

(2,887,992)

325,317

10,166

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,934,033

14,171,943

(14,107,966)

1,998,010

23,137

2

Total

–

2.1%

2,058,276

17,261,009

(16,995,958)

2,323,327

33,303

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

(Depreciation)

($)

Futures

Long

Russell

2000

E-mini

4

6/21/2024

414,428

397,120

(17,308)

Gross

Unrealized

Depreciation

(17,308)

36

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

International

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

98.7%

Australia

–

6.5%

AGL

Energy

Ltd.

19,604

120,425

Ampol

Ltd.

8,041

192,201

ANZ

Group

Holdings

Ltd.

100,035

1,829,211

APA

Group

31,277

168,977

Aristocrat

Leisure

Ltd.

20,291

525,985

ASX

Ltd.

6,385

263,734

Atlas

Arteria

Ltd.

41,764

140,750

Aurizon

Holdings

Ltd.

66,674

165,819

BHP

Group

Ltd.

156,994

4,386,657

BHP

Group

Ltd.

12,756

355,065

BlueScope

Steel

Ltd.

16,228

241,207

Brambles

Ltd.

47,030

446,480

Car

Group

Ltd.

11,142

244,762

Charter

Hall

Group

(a)

17,726

138,010

Cochlear

Ltd.

2,229

470,551

Coles

Group

Ltd.

40,325

424,722

Commonwealth

Bank

of

Australia

55,844

4,153,488

Computershare

Ltd.

17,903

316,558

CSL

Ltd.

16,079

2,889,626

Dexus

(a)

38,657

178,726

Domino's

Pizza

Enterprises

Ltd.

2,067

52,937

Ebos

Group

Ltd.

5,286

109,668

Endeavour

Group

Ltd.

35,689

124,216

Evolution

Mining

Ltd.

62,694

165,284

Fortescue

Ltd.

52,624

890,166

Goodman

Group

(a)

61,128

1,257,887

GPT

Group

(The)

(a)

70,451

193,054

IDP

Education

Ltd.

9,720

102,880

IGO

Ltd.

24,345

125,045

Insurance

Australia

Group

Ltd.

83,343

348,525

Lendlease

Corp.

Ltd.

26,490

111,292

Lottery

Corp.

Ltd.

(The)

78,381

248,376

Macquarie

Group

Ltd.

12,066

1,468,840

Medibank

Pvt

Ltd.

93,164

215,366

Mineral

Resources

Ltd.

5,616

263,259

Mirvac

Group

(a)

141,414

189,164

National

Australia

Bank

Ltd.

103,738

2,276,847

Northern

Star

Resources

Ltd.

37,359

362,431

Orica

Ltd.

16,216

190,591

Origin

Energy

Ltd.

56,479

357,578

Pilbara

Minerals

Ltd.

92,558

244,017

Pro

Medicus

Ltd.

1,585

114,665

Qantas

Airways

Ltd.

(b)

59,140

226,575

QBE

Insurance

Group

Ltd.

50,098

576,778

Ramsay

Health

Care

Ltd.

5,220

177,107

REA

Group

Ltd.

1,691

197,254

Reece

Ltd.

9,598

173,574

Rio

Tinto

Ltd.

12,535

1,062,138

Santos

Ltd.

106,295

531,475

Scentre

Group

(a)

162,617

335,794

Seek

Ltd.

11,905

187,620

Seven

Group

Holdings

Ltd.

5,207

128,653

Sonic

Healthcare

Ltd.

14,810

257,444

South32

Ltd.

127,480

297,177

Stockland

(a)

81,780

236,312

Suncorp

Group

Ltd.

42,095

454,298

Telstra

Group

Ltd.

390,881

931,515

TPG

Telecom

Ltd.

14,017

41,050

Transurban

Group

102,519

834,798

Treasury

Wine

Estates

Ltd.

28,288

222,079

Vicinity

Ltd.

(a)

136,437

170,546

Washington

H

Soul

Pattinson

&

Co.

Ltd.

7,861

166,765

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Australia

–

6.5%

(continued)

Wesfarmers

Ltd.

37,644

1,632,625

Westpac

Banking

Corp.

116,263

1,959,862

Whitehaven

Coal

Ltd.

27,926

139,993

Wisetech

Global

Ltd.

5,625

338,924

Woodside

Energy

Group

Ltd.

60,292

1,105,223

Woodside

Energy

Group

Ltd.

2,305

41,850

Woolworths

Group

Ltd.

39,882

826,127

Worley

Ltd.

12,606

123,522

40,442,120

Austria

–

0.3%

ANDRITZ

AG

2,418

132,893

Bawag

Group

AG

(c)

2,943

176,851

CA

Immobilien

Anlagen

AG

1,028

33,525

Erste

Group

Bank

AG

10,759

504,686

EVN

AG

1,573

48,524

OMV

AG

5,064

241,929

Raiffeisen

Bank

International

AG

5,131

95,353

Telekom

Austria

AG,

Class

A

6,455

55,562

Verbund

AG

1,037

79,391

Vienna

Insurance

Group

AG

Wiener

Versicherung

Gruppe

591

18,484

Voestalpine

AG

4,179

112,247

Wienerberger

AG

3,724

133,633

1,633,078

Belgium

–

0.7%

Ackermans

&

Van

Haaren

NV

793

136,939

Ageas

SA/NV

5,335

246,091

Anheuser-Busch

InBev

SA/NV

28,672

1,721,736

Azelis

Group

NV

4,365

105,668

Colruyt

Group

N.V

1,661

77,115

D'ieteren

Group

612

132,971

Elia

Group

SA

783

75,644

Groupe

Bruxelles

Lambert

NV

2,838

211,963

KBC

Group

NV

8,280

618,855

Proximus

SADP

5,760

42,589

Sofina

SA

519

122,532

Solvay

SA,

Class

A

2,239

72,804

Syensqo

SA

(b)

2,239

208,738

UCB

SA

3,884

517,255

Umicore

SA

4,740

105,724

Warehouses

de

Pauw

CVA

(a)

5,676

151,363

4,547,987

Bermuda

–

0.0%

Seadrill

Ltd.

(b)

2,421

118,818

Canada

–

10.3%

Agnico

Eagle

Mines

Ltd.

16,392

1,040,182

Air

Canada

(b)

13,174

194,851

Algonquin

Power

&

Utilities

Corp.

24,456

149,707

Alimentation

Couche-Tard,

Inc.

25,118

1,394,987

AltaGas

Ltd.,

Class

Common

Subscription

Receipt

10,383

228,088

ARC

Resources

Ltd.

19,260

349,494

Bank

of

Montreal

23,887

2,138,068

Bank

of

Nova

Scotia

(The)

38,773

1,782,511

Barrick

Gold

Corp.

57,012

949,474

BCE,

Inc.

29,181

960,699

Brookfield

Asset

Management

Ltd.,

Class

A

12,819

490,702

Brookfield

Corp.,

Class

A

51,482

2,069,248

BRP,

Inc.

959

64,652

CAE,

Inc.

(b)

11,586

223,987

37

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Canada

–

10.3%

(continued)

Cameco

Corp.

14,668

670,595

Canadian

Apartment

Properties

REIT

(a)

4,633

144,502

Canadian

Imperial

Bank

of

Commerce

30,529

1,427,953

Canadian

National

Railway

Co.

19,284

2,345,353

Canadian

Natural

Resources

Ltd.

36,153

2,745,191

Canadian

Pacific

Kansas

City

Ltd.

31,318

2,461,946

Canadian

Tire

Corp.

Ltd.,

Class

A

1,573

152,268

Canadian

Utilities

Ltd.,

Class

A

4,082

91,454

CCL

Industries,

Inc.,

Class

B

4,282

219,110

Cenovus

Energy,

Inc.

45,654

939,764

CGI,

Inc.,

Class

A

(b)

6,984

709,101

Choice

Properties

Real

Estate

Investment

Trust

(a)

11,196

106,105

Constellation

Software,

Inc.

673

1,736,216

Dollarama,

Inc.

9,744

814,500

Emera,

Inc.

10,401

351,507

Empire

Co.

Ltd.,

Class

Common

Subscription

Receipt

4,048

94,493

Enbridge,

Inc.

70,560

2,514,039

Fairfax

Financial

Holdings

Ltd.

772

841,038

First

Quantum

Minerals

Ltd.

17,309

220,229

Firstservice

Corp.

1,206

177,496

Fortis,

Inc.

15,675

616,800

Franco-Nevada

Corp.

6,334

764,036

George

Weston

Ltd.

1,995

263,081

GFL

Environmental,

Inc.

4,766

152,397

Gildan

Activewear,

Inc.

4,822

167,490

Great-West

Lifeco,

Inc.

9,568

283,520

Hydro

One

Ltd.

(c)

11,978

336,188

IA

Financial

Corp.,

Inc.

3,103

188,504

IGM

Financial,

Inc.

3,101

77,669

Imperial

Oil

Ltd.

5,754

396,416

Intact

Financial

Corp.

5,925

975,834

Ivanhoe

Mines

Ltd.,

Class

A

(b)

20,062

272,487

Keyera

Corp.

9,089

233,667

Kinross

Gold

Corp.

43,158

278,956

Loblaw

Cos.

Ltd.

4,841

531,934

Lundin

Mining

Corp.,

Class

Common

Subscription

Receipt

24,451

279,776

Magna

International,

Inc.

8,643

413,953

Manulife

Financial

Corp.

61,069

1,427,321

Metro,

Inc.,

Class

A

8,609

441,275

National

Bank

of

Canada

11,187

900,106

Northland

Power,

Inc.

10,055

153,769

Nutrien

Ltd.

16,149

853,263

Onex

Corp.

1,827

129,885

Open

Text

Corp.

8,900

314,903

Pan

American

Silver

Corp.

13,331

246,369

Pembina

Pipeline

Corp.,

Class

Common

Subscription

Receipt

18,369

647,665

Power

Corp.

of

Canada

17,642

471,018

Quebecor,

Inc.,

Class

B

4,364

90,498

Restaurant

Brands

International,

Inc.

9,534

724,774

RioCan

Real

Estate

Investment

Trust

(a)

11,528

146,339

Rogers

Communications,

Inc.,

Class

B

12,322

462,529

Royal

Bank

of

Canada

46,286

4,487,267

Saputo,

Inc.

8,512

164,001

Shopify,

Inc.,

Class

A

(b)

38,485

2,707,410

Sun

Life

Financial,

Inc.

19,368

990,921

Suncor

Energy,

Inc.

43,970

1,681,220

TC

Energy

Corp.

33,790

1,213,031

Teck

Resources

Ltd.,

Class

B

15,507

764,035

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Canada

–

10.3%

(continued)

TELUS

Corp.

47,228

760,062

TFI

International,

Inc.

2,371

309,403

Thomson

Reuters

Corp.

4,390

664,419

Toronto-Dominion

Bank

(The)

59,822

3,556,184

Tourmaline

Oil

Corp.,

Class

Common

Subscription

Receipt

11,143

545,694

Waste

Connections,

Inc.

8,550

1,389,060

West

Fraser

Timber

Co.

Ltd.

1,754

134,616

Wheaton

Precious

Metals

Corp.

15,465

807,330

WSP

Global,

Inc.

3,824

581,428

64,798,013

Chile

–

0.0%

Antofagasta

PLC

10,439

288,872

China

–

0.1%

BYD

Electronic

International

Co.

Ltd.

24,500

83,325

China

Mengniu

Dairy

Co.

Ltd.

114,000

239,334

CSPC

Pharmaceutical

Group

Ltd.

306,000

253,526

Fosun

International

Ltd.

78,000

46,374

Yangzijiang

Shipbuilding

Holdings

Ltd.

85,400

110,214

732,773

Curacao

–

0.1%

HAL

Trust

3,123

414,071

Denmark

–

3.2%

AP

Moller

-

Maersk

A/S,

Class

A

82

117,087

AP

Moller

-

Maersk

A/S,

Class

B

111

162,155

Carlsberg

A/S,

Class

B

3,035

410,390

Coloplast

A/S,

Class

B

(d)

4,271

518,250

Danske

Bank

A/S

22,421

649,292

Demant

A/S

(b)

2,914

140,533

DSV

A/S

5,876

840,542

Genmab

A/S

(b)

2,201

617,354

Novo

Nordisk

A/S,

Class

B

106,304

13,755,581

Novozymes

A/S,

Class

B

12,101

674,152

Orsted

A/S

(b)(c)

6,261

346,200

Pandora

A/S

3,047

467,183

Svitzer

A/S

(b)

386

12,996

Tryg

A/S

9,814

194,863

Vestas

Wind

Systems

A/S

(b)

33,142

895,146

19,801,724

Faroe

Islands

–

0.0%

Bakkafrost

P/F

1,719

105,399

Finland

–

0.9%

Elisa

OYJ

4,309

194,986

Fortum

OYJ

14,002

185,350

Huhtamaki

OYJ

3,740

143,805

Kesko

OYJ,

Class

B

9,915

169,945

Kone

OYJ,

Class

B

10,693

523,657

Metso

OYJ

24,371

278,178

Neste

OYJ

13,813

315,184

Nokia

OYJ

176,506

643,852

Nordea

Bank

Abp

107,657

1,266,817

Orion

OYJ,

Class

B

3,605

137,958

Sampo

OYJ,

Class

A

13,944

565,376

Stora

ENSO

OYJ,

Class

R

18,094

242,806

UPM-Kymmene

OYJ

17,752

624,869

Wartsila

OYJ

Abp

17,280

320,756

5,613,539

38

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

France

–

9.2%

Aeroports

de

Paris

SA

785

100,304

Air

Liquide

SA

17,076

3,357,393

Airbus

SE

19,554

3,234,084

AXA

SA

59,349

2,058,618

bioMerieux

1,493

159,640

BNP

Paribas

SA

33,682

2,434,952

Bollore

SE

27,376

178,559

Bouygues

SA

6,347

234,883

Capgemini

SE

5,282

1,117,701

Carrefour

SA

17,657

298,113

Cie

de

Saint-Gobain

SA

15,401

1,229,472

CIE

Generale

des

Etablissements

Michelin

SCA

21,997

850,969

Credit

Agricole

SA

37,384

581,608

Danone

SA

20,841

1,307,201

Dassault

Systemes

SE

22,540

892,461

Engie

SA

59,324

1,032,047

EssilorLuxottica

SA

9,543

2,048,945

Hermes

International

SCA

1,077

2,592,226

Kering

SA

2,348

828,502

Legrand

SA

8,653

896,175

L'Oréal

SA

7,504

3,527,617

LVMH

Moet

Hennessy

Louis

Vuitton

SE

8,698

7,202,219

Orange

SA

63,300

705,605

Pernod

Ricard

SA

6,401

971,891

Pluxee

NV

(b)

2,844

87,853

Safran

SA

11,915

2,601,545

Sanofi

SA

37,007

3,683,171

Sartorius

Stedim

Biotech

802

174,081

Schneider

Electric

SE

18,041

4,149,374

Societe

Generale

SA

24,881

675,479

Sodexo

SA

2,844

248,599

Thales

SA

3,249

548,720

TotalEnergies

SE

74,964

5,497,878

Vinci

SA

16,235

1,913,870

57,421,755

Germany

–

6.5%

adidas

AG

5,548

1,343,057

Allianz

SE

13,127

3,742,029

BASF

SE

29,822

1,567,422

Bayer

AG

31,606

924,290

Bayerische

Motoren

Werke

AG

10,087

1,104,983

Beiersdorf

AG

3,390

509,462

BioNTech

SE,

ADR

(b)

3,161

282,730

Carl

Zeiss

Meditec

AG,

BR

1,371

145,276

Continental

AG

3,689

239,982

Daimler

Truck

Holding

AG

17,547

793,830

Delivery

Hero

SE,

Class

A

(b)(c)

7,022

198,219

Deutsche

Bank

AG

64,310

1,032,145

Deutsche

Boerse

AG

6,145

1,190,260

Deutsche

Post

AG

31,472

1,321,162

Deutsche

Telekom

AG

108,107

2,484,116

E.ON

SE

74,088

982,316

Evonik

Industries

AG

7,308

152,727

Fresenius

Medical

Care

AG

6,832

289,284

Fresenius

SE

&

Co.

KGaA

13,492

403,506

Hannover

Rueck

SE

2,005

498,233

Hapag-Lloyd

AG

(c)

231

42,607

Heidelberg

Materials

AG

4,387

443,940

Henkel

AG

&

Co.

KGaA

3,285

235,865

Infineon

Technologies

AG

43,596

1,525,252

Knorr-Bremse

AG

2,423

180,191

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Germany

–

6.5%

(continued)

Mercedes-Benz

Group

AG

26,199

1,987,273

Merck

KGaA

4,316

687,391

MTU

Aero

Engines

AG

1,811

438,793

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

4,492

1,979,836

Puma

SE

3,451

160,663

RWE

AG

24,818

865,895

SAP

SE

34,323

6,228,001

Siemens

AG

24,741

4,653,339

Siemens

Energy

AG

(b)

16,575

342,052

Siemens

Healthineers

AG

(c)

8,821

491,402

Symrise

AG,

Class

A

4,434

477,427

Talanx

AG

1,581

119,518

Volkswagen

AG

1,105

156,907

Vonovia

SE

22,720

660,297

40,881,678

Hong

Kong

–

1.8%

AIA

Group

Ltd.

387,200

2,861,474

Alibaba

Health

Information

Technology

Ltd.

(b)

(d)

166,000

62,824

Budweiser

Brewing

Co.

APAC

Ltd.

(c)

60,300

84,808

Cathay

Pacific

Airways

Ltd.

23,000

24,849

China

Gas

Holdings

Ltd.

99,800

93,915

Chow

Tai

Fook

Jewellery

Group

Ltd.

66,000

90,799

CK

Asset

Holdings

Ltd.

64,000

275,354

CK

Hutchison

Holdings

Ltd.

85,500

418,142

CK

Infrastructure

Holdings

Ltd.

19,500

110,450

CLP

Holdings

Ltd.

66,500

524,606

DFI

Retail

Group

Holdings

Ltd.

(d)

11,900

23,205

ESR

Group

Ltd.

(c)

100,000

110,469

Futu

Holdings

Ltd.,

ADR

(b)(d)

2,381

153,122

Galaxy

Entertainment

Group

Ltd.

55,000

249,291

Geely

Automobile

Holdings

Ltd.

193,000

235,167

Hang

Lung

Properties

Ltd.

53,000

59,023

Hang

Seng

Bank

Ltd.

22,300

296,242

Henderson

Land

Development

Co.

Ltd.

41,000

124,764

HK

Electric

Investments

&

HK

Electric

Investments

Ltd.

96,500

57,867

HKT

Trust

&

HKT

Ltd.

136,000

150,586

Hong

Kong

&

China

Gas

Co.

Ltd.

290,507

221,747

Hong

Kong

Exchanges

&

Clearing

Ltd.

39,700

1,277,108

HongKong

Land

Holdings

Ltd.

36,700

117,807

Jardine

Matheson

Holdings

Ltd.

5,500

211,035

Link

REIT

(a)

83,103

359,668

MTR

Corp.

Ltd.

50,500

166,909

New

World

Development

Co.

Ltd.

35,000

37,501

Power

Assets

Holdings

Ltd.

52,000

299,519

Prudential

PLC

86,298

757,484

Sino

Biopharmaceutical

Ltd.

334,000

115,302

Sino

Land

Co.

Ltd.

104,000

111,829

Sun

Hung

Kai

Properties

Ltd.

53,000

492,987

Swire

Pacific

Ltd.,

Class

A

13,000

110,533

Swire

Pacific

Ltd.,

Class

B

12,500

17,037

Swire

Properties

Ltd.

42,000

87,531

Techtronic

Industries

Co.

Ltd.

50,500

706,375

WH

Group

Ltd.

(c)

254,000

185,762

Wharf

Holdings

Ltd.

(The)

(d)

28,000

90,574

Wharf

Real

Estate

Investment

Co.

Ltd.

42,000

131,297

Xinyi

Glass

Holdings

Ltd.

79,000

85,048

11,590,010

39

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Ireland

–

1.0%

AerCap

Holdings

NV

(b)

6,820

576,222

AIB

Group

PLC

46,243

240,602

Bank

of

Ireland

Group

PLC

35,955

386,181

DCC

PLC

3,391

232,894

Experian

PLC

30,122

1,223,542

ICON

PLC

(b)

2,717

809,340

James

Hardie

Industries

PLC,

CDI

(b)

14,875

523,619

Kerry

Group

PLC,

Class

A

5,242

452,887

Kingspan

Group

PLC

5,128

459,762

Ryanair

Holdings

PLC,

ADR

5,201

708,376

Smurfit

Kappa

Group

PLC

8,869

386,442

5,999,867

Israel

–

0.8%

Airport

City

Ltd.

(b)

2,027

31,411

Amot

Investments

Ltd.

7,964

33,627

Ashtrom

Group

Ltd.

(b)

1,841

25,550

Azrieli

Group

Ltd.

880

57,080

Bank

Hapoalim

BM

41,326

374,901

Bank

Leumi

Le-Israel

BM

46,543

365,366

Bezeq

The

Israeli

Telecommunication

Corp.

Ltd.

70,646

87,975

Big

Shopping

Centers

Ltd.

(b)

444

45,989

Camtek

Ltd.

1,038

86,351

Check

Point

Software

Technologies

Ltd.

(b)

3,069

458,570

CyberArk

Software

Ltd.

(b)

1,412

337,821

Delek

Group

Ltd.

322

38,218

Elbit

Systems

Ltd.

797

163,139

Energix-Renewable

Energies

Ltd.

9,374

35,186

Enlight

Renewable

Energy

Ltd.

(b)(d)

3,614

58,435

Fattal

Holdings

1998

Ltd.

(b)

222

27,051

First

International

Bank

of

Israel

Ltd.

(The)

1,874

74,861

Global-e

Online

Ltd.

(b)

2,258

75,711

Harel

Insurance

Investments

&

Financial

Services

Ltd.

5,460

50,219

ICL

Group

Ltd.

17,224

81,310

Inmode

Ltd.

(b)

2,703

46,465

Israel

Corp.

Ltd.

182

43,671

Israel

Discount

Bank

Ltd.,

Class

A

42,291

218,454

Melisron

Ltd.

1,008

69,460

Mivne

Real

Estate

Kd

Ltd.

20,339

49,179

Mizrahi

Tefahot

Bank

Ltd.

5,344

195,723

Monday.com

Ltd.

(b)

882

166,989

Nice

Ltd.

(b)

2,142

480,572

Nova

Ltd.

(b)

980

169,956

OPC

Energy

Ltd.

(b)

4,919

37,152

Phoenix

Holdings

Ltd.

(The)

5,889

56,658

Plus500

Ltd.

2,839

76,856

Shapir

Engineering

And

Industry

Ltd.

(b)

4,588

25,174

Strauss

Group

Ltd.

2,060

37,972

Teva

Pharmaceutical

Industries

Ltd.

(b)

36,651

517,687

Tower

Semiconductor

Ltd.

(b)

3,847

125,950

Wix.com

Ltd.

(b)

1,852

220,147

5,046,836

Italy

–

2.3%

A2A

SpA

49,530

98,268

Amplifon

SpA

4,380

147,197

Assicurazioni

Generali

SpA

35,012

857,302

Banca

Mediolanum

SpA

8,071

87,853

Banco

BPM

SpA

43,689

288,884

Davide

Campari-Milano

NV

17,780

179,087

DiaSorin

SpA

857

86,998

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Italy

–

2.3%

(continued)

ENEL

SpA

256,028

1,692,107

ENI

SpA

70,899

1,147,447

Ferrari

NV

4,379

1,812,975

FinecoBank

Banca

Fineco

SpA

20,685

319,377

Hera

SpA

20,641

74,819

Infrastrutture

Wireless

Italiane

SpA

(c)

11,618

125,220

Interpump

Group

SpA

2,380

104,542

Intesa

Sanpaolo

SpA

522,825

1,971,152

Leonardo

SpA

13,751

318,033

Mediobanca

Banca

di

Credito

Finanziario

SpA

20,125

287,276

Moncler

SpA

6,499

445,576

Nexi

SpA

(b)(c)

14,844

86,947

Pirelli

&

C

SpA

(c)

10,746

68,574

Poste

Italiane

SpA

(c)

14,261

181,764

Prada

SpA

17,200

141,405

Prysmian

SpA

8,313

454,925

Recordati

Industria

Chimica

e

Farmaceutica

SpA

3,465

185,434

Snam

SpA

64,988

298,941

Stevanato

Group

SpA

1,138

31,910

Telecom

Italia

SpA

(b)(d)

364,588

86,895

Telecom

Italia

SpA-RSP

(b)

223,645

55,312

Terna

Rete

Elettrica

Nazionale

SpA

47,743

384,096

UniCredit

SpA

56,002

2,070,666

UnipolSai

Assicurazioni

SpA

7,170

20,592

14,111,574

Japan

–

22.4%

ABC-Mart,

Inc.

2,900

58,160

Acom

Co.

Ltd.

14,000

36,298

Advantest

Corp.

25,200

800,046

AEON

Co.

Ltd.

27,500

577,034

AEON

Mall

Co.

Ltd.

2,600

29,798

AGC,

Inc.

7,700

285,414

Air

Water,

Inc.

7,700

116,088

Aisin

Corp.

4,400

167,567

Ajinomoto

Co.,

Inc.

17,600

657,071

Alfresa

Holdings

Corp.

7,600

112,818

Amada

Co.

Ltd.

10,800

118,559

ANA

Holdings,

Inc.

15,800

301,211

Asahi

Group

Holdings

Ltd.

16,300

559,855

Asahi

Intecc

Co.

Ltd.

8,100

119,880

Asahi

Kasei

Corp.

44,100

308,404

Asics

Corp.

5,200

223,379

Astellas

Pharma,

Inc.

56,000

538,773

Azbil

Corp.

3,600

101,275

Bandai

Namco

Holdings,

Inc.

18,700

351,980

BayCurrent

Consulting,

Inc.

4,200

89,997

Bridgestone

Corp.

18,200

807,154

Brother

Industries

Ltd.

9,700

172,716

Calbee,

Inc.

2,700

59,194

Canon,

Inc.

33,500

911,130

Capcom

Co.

Ltd.

10,200

169,919

Central

Japan

Railway

Co.

31,700

728,618

Chiba

Bank

Ltd.

(The)

25,700

218,025

Chubu

Electric

Power

Co.,

Inc.

26,800

344,867

Chugai

Pharmaceutical

Co.

Ltd.

20,700

664,284

Coca-Cola

Bottlers

Japan

Holdings,

Inc.

3,500

49,142

Concordia

Financial

Group

Ltd.

36,300

196,465

Cosmos

Pharmaceutical

Corp.

600

55,476

CyberAgent,

Inc.

16,100

101,256

Dai

Nippon

Printing

Co.

Ltd.

9,300

272,207

40

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Japan

–

22.4%

(continued)

Daifuku

Co.

Ltd.

11,500

238,382

Dai-ichi

Life

Holdings,

Inc.

32,000

742,020

Daiichi

Sankyo

Co.

Ltd.

64,400

2,195,162

Daikin

Industries

Ltd.

9,400

1,298,910

Daito

Trust

Construction

Co.

Ltd.

1,700

182,731

Daiwa

House

Industry

Co.

Ltd.

20,500

578,401

Daiwa

House

REIT

Investment

Corp.

(a)

90

151,616

Daiwa

Securities

Group,

Inc.

50,400

372,159

Denso

Corp.

61,600

1,053,579

Dentsu

Group,

Inc.

6,200

168,194

Disco

Corp.

2,800

814,921

East

Japan

Railway

Co.

38,000

698,592

Ebara

Corp.

2,800

233,267

Eisai

Co.

Ltd.

9,300

384,257

Electric

Power

Development

Co.

Ltd.

4,900

83,496

ENEOS

Holdings,

Inc.

88,200

409,655

FANUC

Corp.

31,300

920,313

Fast

Retailing

Co.

Ltd.

5,300

1,399,390

Fuji

Electric

Co.

Ltd.

3,900

244,659

Fujifilm

Holdings

Corp.

32,200

691,001

Fujitsu

Ltd.

59,600

922,415

Fukuoka

Financial

Group,

Inc.

5,000

133,352

GLP

J-REIT

(a)

168

137,184

GMO

Payment

Gateway,

Inc.

1,400

65,229

Hakuhodo

DY

Holdings,

Inc.

9,200

86,116

Hamamatsu

Photonics

KK

4,100

151,400

Hankyu

Hanshin

Holdings,

Inc.

9,300

244,312

Haseko

Corp.

9,400

113,763

Hikari

Tsushin,

Inc.

600

98,103

Hirose

Electric

Co.

Ltd.

900

95,939

Hisamitsu

Pharmaceutical

Co.,

Inc.

2,100

51,017

Hitachi

Construction

Machinery

Co.

Ltd.

3,000

86,512

Hitachi

Ltd.

31,100

2,889,346

Honda

Motor

Co.

Ltd.

170,900

1,967,851

Hoshizaki

Corp.

3,200

110,846

Hoya

Corp.

12,000

1,408,445

Hulic

Co.

Ltd.

15,500

143,609

Ibiden

Co.

Ltd.

3,500

135,538

Idemitsu

Kosan

Co.

Ltd.

38,500

262,881

IHI

Corp.

4,400

105,886

Iida

Group

Holdings

Co.

Ltd.

4,200

53,873

INPEX

Corp.

32,500

494,114

Isetan

Mitsukoshi

Holdings

Ltd.

12,100

170,891

Isuzu

Motors

Ltd.

19,300

245,228

ITO

EN

Ltd.

1,700

41,375

ITOCHU

Corp.

42,600

1,931,774

J

Front

Retailing

Co.

Ltd.

9,800

85,722

Japan

Airlines

Co.

Ltd.

15,300

272,185

Japan

Exchange

Group,

Inc.

18,100

426,376

Japan

Metropolitan

Fund

Invest

(a)

255

154,590

Japan

Post

Bank

Co.

Ltd.

15,000

152,845

Japan

Post

Holdings

Co.

Ltd.

69,400

666,371

Japan

Post

Insurance

Co.

Ltd.

4,800

90,028

Japan

Tobacco,

Inc.

37,000

998,094

JFE

Holdings,

Inc.

17,700

265,559

JGC

Holdings

Corp.

9,300

89,918

JSR

Corp.

(b)

6,600

181,729

JTEKT

Corp.

8,700

67,669

Kajima

Corp.

15,600

300,669

Kansai

Electric

Power

Co.,

Inc.

(The)

26,100

391,172

Kansai

Paint

Co.

Ltd.

5,400

70,861

KAO

Corp.

15,400

638,547

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Japan

–

22.4%

(continued)

Kawasaki

Heavy

Industries

Ltd.

4,400

136,922

Kawasaki

Kisen

Kaisha

Ltd.

10,900

153,147

KDDI

Corp.

51,200

1,431,576

Keihan

Holdings

Co.

Ltd.

3,100

65,048

Keikyu

Corp.

10,800

86,131

KEIO

Corp.

3,300

81,008

Keisei

Electric

Railway

Co.

Ltd.

4,500

168,516

Kewpie

Corp.

2,900

58,603

Keyence

Corp.

5,800

2,591,046

Kikkoman

Corp.

22,900

274,672

Kintetsu

Group

Holdings

Co.

Ltd.

5,200

133,994

Kirin

Holdings

Co.

Ltd.

26,300

384,477

Kobayashi

Pharmaceutical

Co.

Ltd.

1,600

56,897

Kobe

Bussan

Co.

Ltd.

3,700

80,529

Koei

Tecmo

Holdings

Co.

Ltd.

4,100

38,430

Koito

Manufacturing

Co.

Ltd.

8,900

120,239

Komatsu

Ltd.

30,700

927,643

Konami

Group

Corp.

2,800

169,995

Kose

Corp.

900

46,623

Kubota

Corp.

34,400

556,446

Kuraray

Co.

Ltd.

11,200

124,267

Kurita

Water

Industries

Ltd.

3,300

132,008

Kyocera

Corp.

46,400

569,809

Kyowa

Kirin

Co.

Ltd.

8,100

136,351

Kyushu

Electric

Power

Co.,

Inc.

13,600

126,740

Kyushu

Railway

Co.

4,200

90,451

Lasertec

Corp.

2,500

549,678

Lawson,

Inc.

1,500

98,418

Lion

Corp.

10,700

96,179

Lixil

Corp.

10,900

117,544

LY

Corp.

87,400

212,772

M3,

Inc.

12,000

128,987

Makita

Corp.

9,200

269,104

Marubeni

Corp.

55,600

997,772

Marui

Group

Co.

Ltd.

5,100

78,397

MatsukiyoCocokara

&

Co.

12,100

172,775

Mazda

Motor

Corp.

18,400

210,934

McDonald's

Holdings

Co.

Japan

Ltd.

2,400

105,843

Mebuki

Financial

Group,

Inc.

31,500

111,836

Medipal

Holdings

Corp.

4,600

72,202

MEIJI

Holdings

Co.

Ltd.

9,800

219,522

Mercari,

Inc.

(b)

3,800

44,492

Minebea

Mitsumi,

Inc.

13,900

263,355

Misumi

Group,

Inc.

8,500

139,520

Mitsubishi

Chemical

Group

Corp.

49,800

291,619

Mitsubishi

Corp.

123,600

2,843,275

Mitsubishi

Electric

Corp.

66,700

1,175,351

Mitsubishi

Estate

Co.

Ltd.

37,000

683,735

Mitsubishi

Gas

Chemical

Co.,

Inc.

8,200

145,616

Mitsubishi

HC

Capital,

Inc.

28,200

183,412

Mitsubishi

Heavy

Industries

Ltd.

110,800

998,055

Mitsubishi

Motors

Corp.

21,900

69,361

Mitsubishi

UFJ

Financial

Group,

Inc.

384,400

3,858,290

Mitsui

&

Co.

Ltd.

50,400

2,446,577

Mitsui

Chemicals,

Inc.

5,400

154,555

Mitsui

Fudosan

Co.

Ltd.

93,300

956,330

Mitsui

OSK

Lines

Ltd.

12,800

405,884

Miura

Co.

Ltd.

3,300

52,363

Mizuho

Financial

Group,

Inc.

84,860

1,645,809

MonotaRO

Co.

Ltd.

8,600

104,436

MS&AD

Insurance

Group

Holdings,

Inc.

43,200

781,424

Murata

Manufacturing

Co.

Ltd.

62,000

1,143,946

41

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Japan

–

22.4%

(continued)

Nagoya

Railroad

Co.

Ltd.

8,800

115,057

NEC

Corp.

8,400

613,860

Nexon

Co.

Ltd.

15,200

238,724

NGK

Insulators

Ltd.

11,000

150,427

NH

Foods

Ltd.

3,100

102,142

Nichirei

Corp.

3,400

85,473

Nidec

Corp.

15,800

740,275

Nikon

Corp.

12,100

126,179

Nintendo

Co.

Ltd.

38,000

1,864,201

Nippon

Building

Fund,

Inc.

(a)

45

172,434

Nippon

Express

Holdings,

Inc.

2,400

123,016

Nippon

Paint

Holdings

Co.

Ltd.

28,400

183,269

Nippon

ProLogis

REIT,

Inc.

(a)

94

162,834

Nippon

Sanso

Holdings

Corp.

6,800

203,311

Nippon

Shinyaku

Co.

Ltd.

2,000

55,463

Nippon

Steel

Corp.

29,800

670,554

Nippon

Telegraph

&

Telephone

Corp.

1,789,800

1,942,604

Nippon

Television

Holdings,

Inc.

4,400

64,435

Nippon

Yusen

KK

16,600

471,106

Nissan

Chemical

Corp.

3,400

116,715

Nissan

Motor

Co.

Ltd.

77,000

284,631

Nisshin

Seifun

Group,

Inc.

9,600

125,426

Nissin

Foods

Holdings

Co.

Ltd.

5,400

144,295

Niterra

Co.

Ltd.

5,200

170,905

Nitori

Holdings

Co.

Ltd.

2,500

337,512

Nitto

Denko

Corp.

4,400

365,443

Nomura

Holdings,

Inc.

100,400

574,206

Nomura

Real

Estate

Holdings,

Inc.

2,900

81,694

Nomura

Real

Estate

Master

Fund,

Inc.

(a)

150

143,742

Nomura

Research

Institute

Ltd.

13,800

336,307

NSK

Ltd.

17,500

96,538

NTT

Data

Group

Corp.

20,200

317,573

Obayashi

Corp.

22,900

256,409

OBIC

Business

Consultants

Co.

Ltd.

1,000

41,216

OBIC

Co.

Ltd.

2,000

258,761

Odakyu

Electric

Railway

Co.

Ltd.

12,400

139,866

OJI

Holdings

Corp.

32,200

126,598

Olympus

Corp.

41,600

581,710

Omron

Corp.

5,400

187,361

ONO

Pharmaceutical

Co.

Ltd.

13,300

192,360

Open

House

Group

Co.

Ltd.

2,200

67,357

Oracle

Corp.

Japan

900

68,030

Oriental

Land

Co.

Ltd.

36,500

1,011,743

ORIX

Corp.

37,300

768,210

ORIX

Jreit,

Inc.

(a)

111

117,444

Osaka

Gas

Co.

Ltd.

14,100

313,602

Otsuka

Corp.

6,200

124,028

Otsuka

Holdings

Co.

Ltd.

15,400

659,783

Pan

Pacific

International

Holdings

Corp.

14,100

333,852

Panasonic

Holdings

Corp.

72,900

640,217

Persol

Holdings

Co.

Ltd.

65,000

90,541

Pola

Orbis

Holdings,

Inc.

3,100

28,505

Rakus

Co.

Ltd.

2,400

24,623

Rakuten

Group,

Inc.

(b)

47,200

229,004

Recruit

Holdings

Co.

Ltd.

48,400

2,122,815

Renesas

Electronics

Corp.

42,800

714,897

Resona

Holdings,

Inc.

79,600

506,336

Resonac

Holdings

Corp.

5,200

113,209

Ricoh

Co.

Ltd.

18,200

158,042

Rinnai

Corp.

3,400

74,000

ROHM

Co.

Ltd.

12,100

176,427

Rohto

Pharmaceutical

Co.

Ltd.

5,400

105,794

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Japan

–

22.4%

(continued)

Ryohin

Keikaku

Co.

Ltd.

9,800

159,145

Santen

Pharmaceutical

Co.

Ltd.

12,700

123,033

SBI

Holdings,

Inc.

9,600

234,990

Screen

Holdings

Co.

Ltd.

2,700

284,644

SCSK

Corp.

3,800

69,437

Secom

Co.

Ltd.

7,700

537,261

Sega

Sammy

Holdings,

Inc.

4,400

58,018

Seibu

Holdings,

Inc.

8,800

137,510

Seiko

Epson

Corp.

10,500

173,749

Sekisui

Chemical

Co.

Ltd.

13,200

193,053

Sekisui

House

Ltd.

19,700

453,927

Seven

&

i

Holdings

Co.

Ltd.

78,600

1,018,931

Seven

Bank

Ltd.

25,900

46,380

SG

Holdings

Co.

Ltd.

15,200

178,162

Sharp

Corp.

(b)

10,400

54,919

Shimadzu

Corp.

9,900

271,210

Shimamura

Co.

Ltd.

1,200

59,487

Shimano,

Inc.

2,500

410,113

Shimizu

Corp.

17,900

111,189

Shin-Etsu

Chemical

Co.

Ltd.

66,100

2,602,164

Shinko

Electric

Industries

Co.

Ltd.

1,800

63,941

Shionogi

&

Co.

Ltd.

10,800

506,080

Shiseido

Co.

Ltd.

12,500

334,811

Shizuoka

Financial

Group,

Inc.

17,600

164,687

SMC

Corp.

1,800

955,333

SoftBank

Corp.

93,900

1,140,297

SoftBank

Group

Corp.

32,400

1,629,625

Sohgo

Security

Services

Co.

Ltd.

12,700

70,826

Sojitz

Corp.

8,600

221,824

Sompo

Holdings,

Inc.

31,700

628,501

Sony

Group

Corp.

41,700

3,467,382

Square

Enix

Holdings

Co.

Ltd.

2,600

94,473

Stanley

Electric

Co.

Ltd.

4,200

74,677

Subaru

Corp.

19,200

430,937

Sugi

Holdings

Co.

Ltd.

3,000

44,247

Sumco

Corp.

12,900

195,428

Sumitomo

Chemical

Co.

Ltd.

53,800

115,316

Sumitomo

Corp.

39,000

1,029,740

Sumitomo

Electric

Industries

Ltd.

25,800

400,202

Sumitomo

Heavy

Industries

Ltd.

3,200

89,697

Sumitomo

Metal

Mining

Co.

Ltd.

9,400

317,425

Sumitomo

Mitsui

Financial

Group,

Inc.

44,200

2,522,264

Sumitomo

Mitsui

Trust

Holdings,

Inc.

22,600

476,515

Sumitomo

Realty

&

Development

Co.

Ltd.

15,000

523,496

Sumitomo

Rubber

Industries

Ltd.

4,100

49,854

Sundrug

Co.

Ltd.

2,000

58,336

Suntory

Beverage

&

Food

Ltd.

3,600

117,266

Suzuki

Motor

Corp.

56,000

655,139

Sysmex

Corp.

15,400

247,933

T&D

Holdings,

Inc.

18,400

301,317

Taisei

Corp.

5,100

187,063

Taiyo

Yuden

Co.

Ltd.

3,700

87,748

Takeda

Pharmaceutical

Co.

Ltd.

50,500

1,332,739

TBS

Holdings,

Inc.

3,300

86,482

TDK

Corp.

13,300

598,718

Terumo

Corp.

49,000

838,697

THK

Co.

Ltd.

3,700

81,399

TIS,

Inc.

8,700

186,644

Tobu

Railway

Co.

Ltd.

5,600

111,562

Toei

Animation

Co.

Ltd.

1,500

25,002

Toho

Co.

Ltd.

2,700

90,695

Tohoku

Electric

Power

Co.,

Inc.

15,000

116,147

42

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Japan

–

22.4%

(continued)

Tokio

Marine

Holdings,

Inc.

64,600

2,048,858

Tokyo

Century

Corp.

4,800

47,919

Tokyo

Electric

Power

Co.

Holdings,

Inc.

(b)

48,900

306,734

Tokyo

Electron

Ltd.

15,200

3,392,266

Tokyo

Gas

Co.

Ltd.

14,400

323,843

Tokyu

Corp.

17,900

212,539

Tokyu

Fudosan

Holdings

Corp.

19,000

140,117

Toppan

Holdings,

Inc.

10,000

238,172

Toray

Industries,

Inc.

47,800

219,370

Tosoh

Corp.

11,000

152,350

Toto

Ltd.

4,500

122,791

Toyo

Suisan

Kaisha

Ltd.

2,500

156,340

Toyota

Boshoku

Corp.

1,300

19,273

Toyota

Industries

Corp.

5,000

477,552

Toyota

Motor

Corp.

379,900

8,782,615

Toyota

Tsusho

Corp.

8,400

538,061

Trend

Micro,

Inc.

3,900

193,556

Tsuruha

Holdings,

Inc.

1,100

69,671

Unicharm

Corp.

14,000

417,869

United

Urban

Investment

Corp.

(a)

117

112,639

USS

Co.

Ltd.

14,800

113,423

Welcia

Holdings

Co.

Ltd.

3,400

50,169

West

Japan

Railway

Co.

17,600

334,855

Workman

Co.

Ltd.

800

19,827

Yakult

Honsha

Co.

Ltd.

7,900

154,923

Yamada

Holdings

Co.

Ltd.

26,300

75,324

Yamaha

Corp.

3,900

82,701

Yamaha

Motor

Co.

Ltd.

32,200

302,019

Yamato

Holdings

Co.

Ltd.

11,300

149,862

Yamazaki

Baking

Co.

Ltd.

3,400

82,383

Yaskawa

Electric

Corp.

9,900

413,955

Yokogawa

Electric

Corp.

9,200

205,263

Yokohama

Rubber

Co.

Ltd.

(The)

3,600

94,641

Zensho

Holdings

Co.

Ltd.

2,600

101,363

ZOZO,

Inc.

2,600

56,258

140,205,414

Jordan

–

0.0%

Hikma

Pharmaceuticals

PLC

5,449

131,273

Luxembourg

–

0.2%

ArcelorMittal

SA

15,191

383,174

Eurofins

Scientific

SE

(d)

4,307

265,264

Millicom

International

Cellular

SA,

SDR

(b)(d)

3,390

70,111

Tenaris

SA

16,199

271,505

990,054

Macau

–

0.0%

Sands

China

Ltd.

(b)

80,800

192,981

Malaysia

–

0.0%

Lynas

Rare

Earths

Ltd.

(b)

32,540

138,612

Mexico

–

0.0%

Fresnillo

PLC

7,803

54,519

Netherlands

–

4.5%

Adyen

NV

(b)(c)

1,007

1,216,932

Akzo

Nobel

NV

5,890

391,353

Argenx

SE

(b)

1,909

716,056

ASM

International

NV

1,537

978,179

ASML

Holding

NV

13,230

11,779,585

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Netherlands

–

4.5%

(continued)

EXOR

NV

3,243

356,122

Heineken

Holding

NV

3,902

315,212

Heineken

NV

9,754

952,215

ING

Groep

NV

112,622

1,789,708

JDE

Peet's

NV

2,945

65,561

Koninklijke

Ahold

Delhaize

NV

31,973

972,287

Koninklijke

KPN

NV

111,682

406,972

Koninklijke

Philips

NV

(b)

26,330

710,876

NXP

Semiconductors

NV

8,685

2,225,010

Prosus

NV

49,914

1,681,715

Stellantis

NV

72,791

1,625,136

Universal

Music

Group

NV

25,762

763,029

Wolters

Kluwer

NV

8,292

1,247,927

28,193,875

New

Zealand

–

0.3%

a2

Milk

Co.

Ltd.

(The)

(b)

27,307

108,103

Auckland

International

Airport

Ltd.

40,018

185,894

Contact

Energy

Ltd.

26,455

135,727

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

18,253

307,511

Infratil

Ltd.

24,271

156,837

Mainfreight

Ltd.

(d)

3,190

128,363

Mercury

NZ

Ltd.

22,287

84,142

Meridian

Energy

Ltd.

36,501

129,597

Ryman

Healthcare

Ltd.

(b)

22,205

53,479

Spark

New

Zealand

Ltd.

62,615

176,740

Xero

Ltd.

(b)

4,240

336,116

1,802,509

Norway

–

0.6%

AKER

ASA,

Class

A

697

38,959

AKER

BP

ASA

10,085

247,705

AutoStore

Holdings

Ltd.

(b)(c)

24,412

35,271

DNB

Bank

ASA

29,392

515,163

Equinor

ASA

29,194

788,101

Frontline

PLC

5,131

122,736

Gjensidige

Forsikring

ASA

4,947

79,828

Kongsberg

Gruppen

ASA

2,741

194,546

Leroy

Seafood

Group

ASA

10,575

46,982

Mowi

ASA

14,137

250,145

Nordic

Semiconductor

ASA

(b)

6,424

71,641

Norsk

Hydro

ASA

40,497

251,960

Orkla

ASA

25,767

176,369

Salmar

ASA

2,375

150,446

Schibsted

ASA,

Class

A

3,042

87,298

Schibsted

ASA,

Class

B

3,168

89,026

Sparebank

1

Sr-Bank

ASA

6,328

77,028

Storebrand

ASA

14,627

141,196

Telenor

ASA

21,345

246,522

Tomra

Systems

ASA

8,219

102,198

Var

Energi

ASA

14,536

47,753

Wallenius

Wilhelmsen

ASA,

Class

B

3,238

32,923

Yara

International

ASA

3,849

110,352

3,904,148

Poland

–

0.4%

Allegro.eu

SA

(b)(c)

17,162

144,271

Bank

Polska

Kasa

Opieki

SA

5,668

236,733

Budimex

SA

348

59,128

CD

Projekt

SA

2,383

69,789

Cyfrowy

Polsat

SA

(b)

10,266

25,511

Dino

Polska

SA

(b)(c)

1,663

160,246

Inpost

SA

(b)

5,797

93,783

KGHM

Polska

Miedz

SA

5,207

180,996

43

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Poland

–

0.4%

(continued)

mBank

SA

(b)

468

79,320

Orlen

SA

19,192

315,131

PGE

Polska

Grupa

Energetyczna

SA

(b)

28,499

42,879

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

29,292

439,420

Powszechny

Zaklad

Ubezpieczen

SA

20,179

255,735

Santander

Bank

Polska

SA

1,146

158,831

2,261,773

Portugal

–

0.2%

Banco

Comercial

Portugues

SA,

Class

R

(b)

230,764

81,081

EDP

-

Energias

de

Portugal

SA

89,733

338,311

Galp

Energia

SGPS

SA

15,969

344,914

Jeronimo

Martins

SGPS

SA

9,424

194,983

Navigator

Co.

SA

(The)

7,191

31,925

991,214

Russia

–

0.0%

Evraz

PLC

(b),(e)

2,845

0

Singapore

–

1.3%

CapitaLand

Ascendas

REIT

(a)

111,496

212,568

CapitaLand

Integrated

Commercial

Trust

(a)

138,554

199,132

CapitaLand

Investment

Ltd.

59,900

116,835

City

Developments

Ltd.

18,100

81,624

DBS

Group

Holdings

Ltd.

67,999

1,740,176

Frasers

Logistics

&

Commercial

Trust

(a)

81,900

59,755

Genting

Singapore

Ltd.

181,500

121,776

Grab

Holdings

Ltd.,

Class

A

(b)(d)

67,048

234,668

Hafnia

Ltd.

7,615

57,899

Jardine

Cycle

&

Carriage

Ltd.

2,900

56,352

Keppel

DC

REIT

(a)

49,000

61,441

Keppel

Ltd.

44,000

221,976

Mapletree

Industrial

Trust

(a)

55,400

92,215

Mapletree

Logistics

Trust

(a)

105,600

104,535

Mapletree

Pan

Asia

Commercial

Trust

(a)

89,600

82,784

Olam

Group

Ltd.

36,000

31,149

Oversea-Chinese

Banking

Corp.

Ltd.

107,719

1,125,570

Sats

Ltd.

(b)

30,700

56,729

Sea

Ltd.,

ADR

(b)

12,181

769,717

Seatrium

Ltd.

(b)

2,187,600

157,203

SembCorp

Industries

Ltd.

28,600

112,618

Singapore

Airlines

Ltd.

(d)

45,600

218,679

Singapore

Exchange

Ltd.

30,200

207,276

Singapore

Technologies

Engineering

Ltd.

49,200

145,390

Singapore

Telecommunications

Ltd.

234,600

409,421

United

Overseas

Bank

Ltd.

45,400

1,012,033

UOL

Group

Ltd.

20,100

86,369

Venture

Corp.

Ltd.

11,700

124,571

Wilmar

International

Ltd.

68,700

162,714

8,063,175

Spain

–

2.3%

ACS

Actividades

de

Construccion

y

Servicios

SA

6,689

268,782

Aena

SME

SA

(c)

2,494

457,610

Amadeus

IT

Group

SA

15,007

958,928

Banco

Bilbao

Vizcaya

Argentaria

SA

196,148

2,134,027

Banco

Santander

SA

528,334

2,583,398

CaixaBank

SA

125,569

664,882

Cellnex

Telecom

SA

(c)

18,948

629,081

Corp.

Acciona

Energias

Renovables

SA

(d)

2,230

45,447

EDP

Renovaveis

SA

7,385

101,627

Endesa

SA

10,970

200,579

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Spain

–

2.3%

(continued)

Ferrovial

SE

16,023

579,085

Grifols

SA

(b)(d)

11,091

102,534

Iberdrola

SA

193,297

2,378,932

Industria

de

Diseno

Textil

SA

36,926

1,691,861

Naturgy

Energy

Group

SA

(d)

3,819

96,860

Redeia

Corp.

SA

14,505

242,725

Repsol

SA

42,066

662,320

Telefonica

SA

169,403

761,854

14,560,532

Sweden

–

3.0%

AAK

AB

5,598

145,154

AddTech

AB,

Class

B

8,056

170,869

ALFA

Laval

AB

9,497

409,787

ASSA

Abloy

AB,

Class

B

32,274

867,430

Atlas

Copco

AB,

Class

A

84,549

1,505,581

Atlas

Copco

AB,

Class

B

51,479

785,606

Avanza

Bank

Holding

AB

4,180

90,867

Axfood

AB

3,887

101,071

Beijer

Ref

AB,

Class

B

11,732

169,365

Boliden

AB

7,859

263,568

Castellum

AB

(b)

14,082

171,023

Electrolux

AB,

Class

B

(b)

7,642

67,759

Elekta

AB,

Class

B

12,251

88,401

Embracer

Group

AB,

Class

B

(b)(d)

29,497

75,517

Epiroc

AB,

Class

A

20,307

382,610

Epiroc

AB,

Class

B

12,139

204,162

EQT

AB

17,059

469,842

Essity

AB,

Class

B

18,822

470,897

Evolution

AB

(c)

5,923

664,833

Fabege

AB

8,007

62,227

Fastighets

AB

Balder,

Class

B

(b)

21,988

142,074

Getinge

AB,

Class

B

7,501

160,601

H

&

M

Hennes

&

Mauritz

AB,

Class

B

20,971

337,706

Hexagon

AB,

Class

B

63,467

675,095

Holmen

AB,

Class

B

3,260

128,191

Husqvarna

AB,

Class

B

13,817

114,152

Industrivarden

AB,

Class

A

4,609

149,995

Industrivarden

AB,

Class

C

4,903

159,429

Indutrade

AB

8,023

188,735

Investment

AB

Latour,

Class

B

4,637

113,856

Investor

AB,

Class

A

16,121

397,741

Investor

AB,

Class

B

59,568

1,478,088

Kinnevik

AB,

Class

B

(b)

9,831

104,348

L

E

Lundbergforetagen

AB,

Class

B

1,887

94,213

Lifco

AB,

Class

B

7,660

188,431

Nibe

Industrier

AB,

Class

B

40,229

189,125

Saab

AB,

Class

B

2,519

201,641

Sagax

AB,

Class

B

6,762

171,393

Sandvik

AB

33,949

688,822

Securitas

AB,

Class

B

17,757

180,306

Skandinaviska

Enskilda

Banken

AB,

Class

A

53,892

713,427

Skanska

AB,

Class

B

11,611

202,951

SKF

AB,

Class

B

13,221

277,046

SSAB

AB,

Class

A

8,228

46,823

SSAB

AB,

Class

B,

Series

B

22,731

129,023

Svenska

Cellulosa

AB

SCA,

Class

B

19,395

286,351

Svenska

Handelsbanken

AB,

Class

A

48,509

425,076

Svenska

Handelsbanken

AB,

Class

B

(d)

1,675

18,130

Sweco

AB,

Class

B

6,061

65,603

Swedbank

AB,

Class

A

32,638

631,594

Swedish

Orphan

Biovitrum

AB

(b)

7,891

205,185

44

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

Sweden

–

3.0%

(continued)

Tele2

AB,

Class

B

20,246

190,177

Telefonaktiebolaget

LM

Ericsson,

Class

B

93,238

477,577

Telia

Co.

AB

68,455

157,543

Thule

Group

AB

(c)

3,615

103,418

Trelleborg

AB,

Class

B

6,978

249,979

Volvo

AB,

Class

A

5,747

153,311

Volvo

AB,

Class

B

50,546

1,305,108

Volvo

Car

AB,

Class

B

(b)

19,812

63,050

18,731,883

Switzerland

–

7.5%

ABB

Ltd.

54,325

2,658,943

Alcon,

Inc.

16,336

1,266,412

CIE

Financiere

Richemont

SA,

Class

A

17,568

2,449,923

DSM-Firmenich

AG

8,703

983,616

Geberit

AG

1,106

595,237

Givaudan

SA

313

1,346,669

Glencore

PLC

306,747

1,796,396

Holcim

AG

17,333

1,458,606

Kuehne

+

Nagel

International

AG

1,713

455,169

Lonza

Group

AG

2,498

1,390,153

Nestle

SA

89,288

8,976,016

Novartis

AG

66,962

6,501,626

Partners

Group

Holding

AG

723

937,697

Roche

Holding

AG

23,523

5,657,934

Roche

Holding

AG,

BR

887

232,884

Schindler

Holding

AG

695

170,122

Schindler

Holding

AG,

PC

1,314

329,521

SGS

SA

4,975

439,703

Sika

AG

5,043

1,447,770

STMicroelectronics

NV

21,686

872,908

Straumann

Holding

AG

3,562

477,704

Swatch

Group

AG

(The)

2,091

87,092

Swatch

Group

AG

(The),

BR

869

183,483

Swiss

RE

AG

9,687

1,054,305

Swisscom

AG

841

461,695

UBS

Group

AG

100,140

2,649,946

Zurich

Insurance

Group

AG

4,879

2,363,029

47,244,559

United

Kingdom

–

12.2%

3i

Group

PLC

31,655

1,139,949

Admiral

Group

PLC

7,623

260,486

Allfunds

Group

PLC

10,525

66,848

Anglo

American

PLC

37,335

1,231,364

Ashtead

Group

PLC

14,604

1,068,287

Associated

British

Foods

PLC

11,657

387,676

AstraZeneca

PLC

50,113

7,568,749

Auto

Trader

Group

PLC

(c)

30,916

270,360

Aviva

PLC

91,110

531,284

B&M

European

Value

Retail

SA

30,788

200,080

BAE

Systems

PLC

100,928

1,684,598

Barclays

PLC

505,279

1,282,447

Barratt

Developments

PLC

32,677

186,047

Berkeley

Group

Holdings

PLC

3,696

218,160

BP

PLC

521,875

3,400,620

British

American

Tobacco

PLC

67,071

1,974,430

BT

Group

PLC,

Class

A

(d)

203,272

261,144

Bunzl

PLC

11,281

434,216

Burberry

Group

PLC

13,027

187,666

Centrica

PLC

174,751

279,972

Coca-Cola

Europacific

Partners

PLC

6,957

501,043

Compass

Group

PLC

58,389

1,631,848

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

United

Kingdom

–

12.2%

(continued)

ConvaTec

Group

PLC

(c)

52,910

165,627

Croda

International

PLC

4,925

284,290

Diageo

PLC

74,194

2,578,484

DS

Smith

PLC

45,739

200,680

Entain

PLC

21,919

215,888

GSK

PLC

135,993

2,848,832

Haleon

PLC

171,523

729,149

Halma

PLC

13,095

361,878

Hargreaves

Lansdown

PLC

13,166

134,161

HSBC

Holdings

PLC

646,691

5,632,624

Imperial

Brands

PLC

28,077

642,836

Informa

PLC

45,822

456,596

InterContinental

Hotels

Group

PLC

5,389

529,838

Intermediate

Capital

Group

PLC

10,238

269,209

International

Consolidated

Airlines

Group

SA

(b)

123,586

270,963

Intertek

Group

PLC

5,619

347,850

J

Sainsbury

PLC

58,342

192,421

JD

Sports

Fashion

PLC

85,426

123,652

Kingfisher

PLC

65,355

203,030

Land

Securities

Group

PLC

(a)

22,689

184,806

Legal

&

General

Group

PLC

197,703

584,224

Liberty

Global

Ltd.,

Class

A

(b)

5,767

91,666

Liberty

Global

Ltd.,

Class

C

(b)

6,949

113,755

Lloyds

Banking

Group

PLC

2,140,969

1,391,336

London

Stock

Exchange

Group

PLC

13,940

1,544,060

M&G

PLC

73,678

185,526

Melrose

Industries

PLC

44,882

355,064

Mondi

PLC

15,557

295,895

National

Grid

PLC

121,814

1,598,501

NatWest

Group

PLC

181,603

690,138

Next

PLC

4,109

463,467

Ocado

Group

PLC

(b)(d)

17,828

78,823

Pearson

PLC

23,835

290,570

Persimmon

PLC

10,951

178,808

Phoenix

Group

Holdings

PLC

27,833

170,700

Polestar

Automotive

Holding

UK

PLC,

Class

A,

ADR

(b)(d)

9,677

13,451

Reckitt

Benckiser

Group

PLC

23,608

1,320,769

RELX

PLC

63,357

2,620,339

Rentokil

Initial

PLC

82,357

419,813

Rightmove

PLC

28,646

184,725

Rio

Tinto

PLC

35,597

2,439,012

Rolls-Royce

Holdings

PLC

(b)

281,254

1,454,817

Sage

Group

PLC

(The)

33,210

484,866

Schroders

PLC

32,799

144,892

Segro

PLC

(a)

40,168

426,511

Severn

Trent

PLC

8,819

272,422

Shell

PLC

220,046

7,888,405

Smith

&

Nephew

PLC

30,159

369,704

Smiths

Group

PLC

11,924

241,278

Spirax-Sarco

Engineering

PLC

2,599

287,845

SSE

PLC

35,336

737,356

St.

James's

Place

PLC

20,190

110,123

Standard

Chartered

PLC

73,323

633,312

Taylor

Wimpey

PLC

118,884

196,346

Tesco

PLC

234,405

869,667

Unilever

PLC

82,897

4,297,279

United

Utilities

Group

PLC

23,596

308,604

Vodafone

Group

PLC

766,618

649,479

Weir

Group

PLC

(The)

8,750

224,603

Whitbread

PLC

6,526

258,791

45

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

United

Kingdom

–

12.2%

(continued)

Wise

PLC,

Class

A

(b)

19,587

190,442

WPP

PLC

37,522

379,716

76,597,188

United

States

–

0.1%

RB

Global,

Inc.

5,502

394,473

Total

Common

Stocks

(cost

$552,879,371)

618,006,296

Preferred

Stocks

–

0.4%

Germany

–

0.4%

Bayerische

Motoren

Werke

AG,

8.82%

1,864

192,334

Dr.

Ing.

h.c.

F.

Porsche

AG,

1.21%

(c)

3,944

352,975

Henkel

AG

&

Co.

KGaA,

2.49%

5,725

455,806

Porsche

Automobil

Holding

SE,

5.36%

5,457

279,668

Sartorius

AG,

0.26%

812

245,103

Volkswagen

AG,

7.66%

6,012

740,226

2,266,112

Spain

–

0.0%

Grifols

SA,

Class

B,

4.75%

(b)

7,114

45,678

Total

Preferred

Stocks

(cost

$2,440,494)

2,311,790

Warrants

–

0.0%

Canada

–

0.0%

Constellation

Software,

Inc.,

Warrants

expiring

3/31/2040

(b)

563

0

Total

Warrants

(cost

$0)

0

Investment

Companies

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$256,068)

256,068

256,068

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$513,181)

513,181

513,181

Total

Investments

(cost

$556,089,114)

99.2%

621,087,335

Cash

and

Receivables

(Net)

0.8%

4,971,962

Net

Assets

100.0%

626,059,297

ADR—American

Depositary

Receipt

BR—Bearer

Shares

CDI—CREST

Depositary

Interest

PC—Participation

Certificate

REIT—Real

Estate

Investment

Trust

(a)

Investment

in

a

real

estate

investment

trust.

(b)

Non-income

producing

security.

(c)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2024,

these

securities

were

valued

at

$6,635,635

or

1.06%

of

net

assets.

(d)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$2,359,928

and

the

value

of

the

collateral

was

$2,495,601,

consisting

of

cash

collateral

of

$513,181

and

U.S.

Government

&

Agency

securities

valued

at

$1,982,420.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(e)

The

fund

held

Level

3

securities

at

April

30,

2024.

These

securities

were

valued

at

$0

or

0.00%

of

net

assets.

(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.

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

46

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financials

21.0

Industrials

17.5

Health

Care

11.2

Consumer

Discretionary

10.8

Information

Technology

9.0

Consumer

Staples

7.5

Materials

7.4

Energy

6.3

Communication

Services

3.6

Utilities

3.4

Real

Estate

1.4

Registered

Investment

Companies

0.1

99.2

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

658,664

4,913,004

(5,315,600)

256,068

20,929

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

247,970

265,211

—

513,181

4,355

2

Total

–

0.1%

906,634

5,178,215

(5,315,600)

769,249

25,284

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

(Depreciation)

($)

Futures

Long

MSCI

EAFE

Index

36

6/21/2024

4,175,737

4,081,500

(94,237)

S&P/TSX

60

Index

2

6/20/2024

386,833

*

380,100

(6,733)

Gross

Unrealized

Depreciation

(100,970)

*

Notional

amounts

in

foreign

currency

have

been

converted

to

USD

using

relevant

foreign

exchange

rates.

47

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

Emerging

Markets

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

98.1%

Australia

–

0.0%

Yancoal

Australia

Ltd.

3,200

11,599

Brazil

–

4.0%

Ambev

SA

53,960

126,907

Atacadao

SA

7,429

16,024

B3

SA

-

Brasil

Bolsa

Balcao

73,425

152,287

Banco

Bradesco

SA

15,151

36,072

Banco

BTG

Pactual

SA

19,566

126,235

Banco

do

Brasil

SA

22,840

121,138

Banco

Santander

Brasil

SA

4,145

23,144

BB

Seguridade

Participacoes

SA

8,487

52,725

Caixa

Seguridade

Participacoes

S/A

7,120

21,498

CCR

SA

13,362

31,709

Centrais

Eletricas

Brasileiras

SA

14,293

104,348

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

4,378

68,832

Cia

Energetica

de

Minas

Gerais

4,973

10,890

Cia

Siderurgica

Nacional

SA

8,328

22,414

Companhia

Paranaense

de

Energia

10,610

16,847

Cosan

SA

15,674

43,788

CPFL

Energia

SA

2,724

16,855

CSN

Mineracao

SA

6,208

5,917

Energisa

S/A

3,914

34,140

Eneva

SA

(a)

8,724

20,821

Engie

Brasil

Energia

SA

2,172

17,177

Equatorial

Energia

SA

12,570

74,478

Hapvida

Participacoes

e

Investimentos

SA

(a)(b)

62,094

44,207

Hypera

SA

5,561

31,747

Itau

Unibanco

Holding

SA

2,568

13,536

JBS

S/A

8,906

40,294

Klabin

SA

10,760

47,748

Localiza

Rent-A-Car

SA

10,421

98,699

Lojas

Renner

SA

13,445

39,714

Magazine

Luiza

SA

(a)

40,882

10,806

Multiplan

Empreendimentos

Imobiliarios

SA

3,789

16,667

Natura

&

Co.

Holding

SA

11,436

36,648

Neoenergia

SA

2,514

9,284

NU

Holdings

Ltd.,

Class

A

(a)

29,948

325,235

Pagseguro

Digital

Ltd.,

Class

A

(a)

2,762

34,387

Petroleo

Brasileiro

SA

47,513

406,277

Porto

Seguro

SA

2,483

14,372

Prio

SA

9,322

86,582

Raia

Drogasil

SA

15,938

78,843

Rede

D'Or

Sao

Luiz

SA

(b)

12,521

63,172

Rumo

SA

16,176

63,011

Sendas

Distribuidora

S/A

18,001

45,635

Stoneco

Ltd.,

Class

A

(a)

3,180

49,608

Suzano

SA

9,287

104,748

Telefonica

Brasil

SA

4,742

43,668

Tim

SA

10,075

34,367

Totvs

SA

7,157

38,222

Ultrapar

Participacoes

SA

8,852

44,353

Vale

SA

49,910

609,058

Vibra

Energia

SA

14,289

64,703

WEG

SA

19,267

147,501

XP,

Inc.,

Class

A

5,083

104,049

3,891,387

Chile

–

0.4%

Banco

de

Chile

572,676

63,790

Banco

de

Credito

e

Inversiones

SA

1,149

33,650

Banco

Santander

Chile

844,382

38,417

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Chile

–

0.4%

(continued)

Cencosud

SA

15,485

26,644

Cia

Cervecerias

Unidas

SA

2,082

12,826

Cia

Sud

Americana

de

Vapores

SA

232,263

18,195

Empresas

CMPC

SA

15,663

31,061

Empresas

COPEC

SA

5,943

42,585

Enel

Americas

SA

238,192

22,422

Enel

Chile

SA

333,775

19,899

Falabella

SA

(a)

16,665

44,795

Latam

Airlines

Group

SA

(a)

5,943,255

80,748

435,032

China

–

23.2%

360

Security

Technology,

Inc.,

Class

A

(a)

9,300

10,955

37

Interactive

Entertainment

Network

Technology

Group

Co.

Ltd.,

Class

A

1,100

2,537

Advanced

Micro-Fabrication

Equipment,

Inc.

China,

Class

A

488

9,547

AECC

Aero-Engine

Control

Co.

Ltd.,

Class

A

1,700

4,592

AECC

Aviation

Power

Co.

Ltd.,

Class

A

1,000

4,883

Agricultural

Bank

of

China

Ltd.,

Class

A

84,900

51,586

Agricultural

Bank

of

China

Ltd.,

Class

H

366,000

164,254

Aier

Eye

Hospital

Group

Co.

Ltd.,

Class

A

4,700

8,373

Air

China

Ltd.,

Class

H

(a)

22,000

11,083

Aisino

Corp.,

Class

A

4,100

4,818

Akeso,

Inc.

(a)(b)

6,000

36,938

Alibaba

Group

Holding

Ltd.

205,980

1,958,090

Aluminum

Corp.

of

China

Ltd.,

Class

A

12,000

12,296

Aluminum

Corp.

of

China

Ltd.,

Class

H

46,000

30,760

Angang

Steel

Co.

Ltd.,

Class

A

20,300

6,756

Angang

Steel

Co.

Ltd.,

Class

H

38,000

6,316

Angel

Yeast

Co.

Ltd.,

Class

A

1,500

6,177

Anhui

Conch

Cement

Co.

Ltd.,

Class

A

3,200

10,155

Anhui

Conch

Cement

Co.

Ltd.,

Class

H

22,000

51,363

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

A

300

11,237

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

B

1,500

24,641

Anhui

Jianghuai

Automobile

Group

Corp.

Ltd.,

Class

A

(a)

1,800

3,893

Anhui

Yingjia

Distillery

Co.

Ltd.,

Class

A

700

6,863

Anjoy

Foods

Group

Co.

Ltd.,

Class

A

300

3,823

Anker

Innovations

Technology

Co.

Ltd.,

Class

A

400

4,771

ANTA

Sports

Products

Ltd.

16,400

188,089

ASR

Microelectronics

Co.

Ltd.,

Class

A

(a)

481

2,721

Asymchem

Laboratories

Tianjin

Co.

Ltd.,

Class

A

340

3,881

Asymchem

Laboratories

Tianjin

Co.

Ltd.,

Class

H

(b)

340

2,789

Autobio

Diagnostics

Co.

Ltd.,

Class

A

800

6,299

Autohome,

Inc.,

ADR

951

24,441

Avary

Holding

Shenzhen

Co.

Ltd.,

Class

A

2,100

7,000

Avichina

Industry

&

Technology

Co.

Ltd.,

Class

H

32,000

13,829

BAIC

BluePark

New

Energy

Technology

Co.

Ltd.,

Class

A

(a)

5,000

4,709

Baidu,

Inc.,

Class

A

(a)

28,000

374,827

Bank

of

Beijing

Co.

Ltd.,

Class

A

16,100

12,406

Bank

of

Changsha

Co.

Ltd.,

Class

A

4,400

4,958

Bank

of

Chengdu

Co.

Ltd.,

Class

A

3,800

7,766

Bank

of

China

Ltd.,

Class

A

51,200

32,453

Bank

of

China

Ltd.,

Class

H

1,058,000

477,515

Bank

of

Chongqing

Co.

Ltd.,

Class

A

5,200

5,378

Bank

of

Communications

Co.

Ltd.,

Class

A

30,200

28,692

Bank

of

Communications

Co.

Ltd.,

Class

H

109,000

78,880

Bank

of

Guiyang

Co.

Ltd.,

Class

A

7,300

5,686

Bank

of

Hangzhou

Co.

Ltd.,

Class

A

2,800

4,988

Bank

of

Jiangsu

Co.

Ltd.,

Class

A

10,800

12,051

48

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Bank

of

Nanjing

Co.

Ltd.,

Class

A

8,500

10,940

Bank

of

Ningbo

Co.

Ltd.,

Class

A

4,500

14,249

Bank

of

Shanghai

Co.

Ltd.,

Class

A

12,500

12,601

Bank

of

Suzhou

Co.

Ltd.,

Class

A

5,100

5,317

Baoshan

Iron

&

Steel

Co.

Ltd.,

Class

A

17,700

16,987

Beijing

Capital

Eco-Environment

Protection

Group

Co.

Ltd.,

Class

A

16,000

6,408

Beijing

Dabeinong

Technology

Group

Co.

Ltd.,

Class

A

5,500

3,562

Beijing

Easpring

Material

Technology

Co.

Ltd.,

Class

A

900

5,495

Beijing

Kingsoft

Office

Software,

Inc.,

Class

A

363

15,540

Beijing

New

Building

Materials

PLC,

Class

A

1,500

6,784

Beijing

Oriental

Yuhong

Waterproof

Technology

Co.

Ltd.,

Class

A

2,500

5,058

Beijing

Shiji

Information

Technology

Co.

Ltd.,

Class

A

(a)

3,290

3,271

Beijing

Tiantan

Biological

Products

Corp.

Ltd.,

Class

A

1,700

6,754

Beijing

Tongrentang

Co.

Ltd.,

Class

A

1,300

7,599

Beijing

United

Information

Technology

Co.

Ltd.,

Class

A

1,000

3,593

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co.

Ltd.,

Class

A

600

5,657

Beijing

Yanjing

Brewery

Co.

Ltd.,

Class

A

300

410

Beijing-Shanghai

High

Speed

Railway

Co.

Ltd.,

Class

A

36,600

25,726

Beiqi

Foton

Motor

Co.

Ltd.,

Class

A

(a)

11,000

3,995

Bethel

Automotive

Safety

Systems

Co.

Ltd.,

Class

A

400

3,178

Bilibili,

Inc.,

Class

Z

(a)

3,220

42,323

Bloomage

Biotechnology

Corp.

Ltd.,

Class

A

336

2,854

BOC

International

China

Co.

Ltd.,

Class

A

3,500

4,973

BOE

Technology

Group

Co.

Ltd.,

Class

A

27,100

16,316

BTG

Hotels

Group

Co.

Ltd.,

Class

A

(a)

2,500

5,296

BYD

Co.

Ltd.,

Class

A

900

27,156

BYD

Co.

Ltd.,

Class

H

12,500

344,576

By-health

Co.

Ltd.,

Class

A

2,700

5,906

Caitong

Securities

Co.

Ltd.,

Class

A

5,600

5,931

Calb

Group

Co.

Ltd.

(a)(b)

2,000

3,667

Cambricon

Technologies

Corp.

Ltd.,

Class

A

(a)

141

3,337

Canmax

Technologies

Co.

Ltd.,

Class

A

1,600

4,684

Cathay

Biotech,

Inc.,

Class

A

622

4,406

CECEP

Wind-Power

Corp.,

Class

A

6,200

2,688

CGN

Power

Co.

Ltd.,

Class

A

14,100

8,003

CGN

Power

Co.

Ltd.,

Class

H

(b)

149,000

50,104

Changchun

High

&

New

Technology

Industry

Group,

Inc.,

Class

A

300

4,684

Changjiang

Securities

Co.

Ltd.,

Class

A

7,100

5,559

Changzhou

Xingyu

Automotive

Lighting

Systems

Co.

Ltd.,

Class

A

300

5,524

Chaozhou

Three-Circle

Group

Co.

Ltd.,

Class

A

1,900

7,326

Chengxin

Lithium

Group

Co.

Ltd.,

Class

A

1,500

3,718

Chifeng

Jilong

Gold

Mining

Co.

Ltd.,

Class

A

(a)

2,200

5,444

China

Baoan

Group

Co.

Ltd.,

Class

A

4,000

5,811

China

Cinda

Asset

Management

Co.

Ltd.,

Class

H

145,000

13,163

China

CITIC

Bank

Corp.

Ltd.,

Class

H

139,000

81,752

China

Coal

Energy

Co.

Ltd.,

Class

A

5,100

8,282

China

Coal

Energy

Co.

Ltd.,

Class

H

25,000

25,252

China

Communications

Services

Corp.

Ltd.,

Class

H

34,000

16,302

China

Construction

Bank

Corp.,

Class

A

8,000

7,866

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

China

Construction

Bank

Corp.,

Class

H

1,199,000

781,837

China

CSSC

Holdings

Ltd.,

Class

A

3,500

17,641

China

Eastern

Airlines

Corp.

Ltd.,

Class

A

(a)

6,500

3,447

China

Eastern

Airlines

Corp.

Ltd.,

Class

H

(a)

32,000

8,306

China

Energy

Engineering

Corp.

Ltd.,

Class

A

10,200

3,099

China

Energy

Engineering

Corp.

Ltd.,

Class

H

128,000

12,929

China

Everbright

Bank

Co.

Ltd.,

Class

A

14,400

6,264

China

Everbright

Bank

Co.

Ltd.,

Class

H

147,000

44,732

China

Feihe

Ltd.

(b)

50,000

27,489

China

Galaxy

Securities

Co.

Ltd.,

Class

A

3,200

5,502

China

Galaxy

Securities

Co.

Ltd.,

Class

H

48,000

26,206

China

Great

Wall

Securities

Co.

Ltd.,

Class

A

5,000

5,289

China

Greatwall

Technology

Group

Co.

Ltd.,

Class

A

3,600

4,862

China

Hongqiao

Group

Ltd.

31,000

43,203

China

International

Capital

Corp.

Ltd.,

Class

A

1,500

6,906

China

International

Capital

Corp.

Ltd.,

Class

H

(b)

10,800

13,146

China

International

Marine

Containers

Group

Co.

Ltd.,

Class

A

9,700

12,149

China

Jushi

Co.

Ltd.,

Class

A

3,700

6,096

China

Lesso

Group

Holdings

Ltd.

20,000

8,439

China

Life

Insurance

Co.

Ltd.,

Class

A

900

3,811

China

Life

Insurance

Co.

Ltd.,

Class

H

92,000

122,569

China

Literature

Ltd.

(a)(b)

5,200

18,782

China

Longyuan

Power

Group

Corp.

Ltd.,

Class

H

40,000

28,180

China

Merchants

Bank

Co.

Ltd.,

Class

A

19,100

90,495

China

Merchants

Bank

Co.

Ltd.,

Class

H

52,500

230,575

China

Merchants

Energy

Shipping

Co.

Ltd.,

Class

A

10,500

12,368

China

Merchants

Expressway

Network

&

Technology

Holdings

Co.

Ltd.,

Class

A

4,100

6,273

China

Merchants

Securities

Co.

Ltd.,

Class

A

5,700

11,524

China

Merchants

Securities

Co.

Ltd.,

Class

H

(b)

3,000

2,505

China

Merchants

Shekou

Industrial

Zone

Holdings

Co.

Ltd.,

Class

A

5,000

5,848

China

Minsheng

Banking

Corp.

Ltd.,

Class

A

32,700

17,837

China

Minsheng

Banking

Corp.

Ltd.,

Class

H

67,000

24,586

China

National

Building

Material

Co.

Ltd.,

Class

H

28,000

10,919

China

National

Chemical

Engineering

Co.

Ltd.,

Class

A

7,700

7,337

China

National

Nuclear

Power

Co.

Ltd.,

Class

A

18,100

23,095

China

National

Software

&

Service

Co.

Ltd.,

Class

A

990

4,127

China

Northern

Rare

Earth

Group

High-Tech

Co.

Ltd.,

Class

A

3,700

9,861

China

Oilfield

Services

Ltd.,

Class

A

300

742

China

Oilfield

Services

Ltd.,

Class

H

26,000

27,991

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

A

4,900

17,458

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

H

32,000

70,700

China

Petroleum

&

Chemical

Corp.,

Class

A

28,700

25,167

China

Petroleum

&

Chemical

Corp.,

Class

H

312,000

188,288

China

Railway

Group

Ltd.,

Class

A

13,800

12,520

China

Railway

Group

Ltd.,

Class

H

60,000

29,765

China

Railway

Signal

&

Communication

Corp.

Ltd.,

Class

A

6,629

4,943

China

Railway

Signal

&

Communication

Corp.

Ltd.,

Class

H

(b)

10,000

3,900

China

Resources

Microelectronics

Ltd.,

Class

A

805

4,056

China

Resources

Mixc

Lifestyle

Services

Ltd.

(b)

11,800

42,018

China

Resources

Pharmaceutical

Group

Ltd.

(b)

18,500

12,016

49

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co.

Ltd.,

Class

A

1,000

8,281

China

Shenhua

Energy

Co.

Ltd.,

Class

A

4,100

22,551

China

Shenhua

Energy

Co.

Ltd.,

Class

H

44,500

186,052

China

Southern

Airlines

Co.

Ltd.,

Class

A

(a)

4,600

3,602

China

Southern

Airlines

Co.

Ltd.,

Class

H

(a)

14,000

5,084

China

Southern

Power

Grid

Energy

Storage

Co.

Ltd.,

Class

A

4,500

6,189

China

State

Construction

Engineering

Corp.

Ltd.,

Class

A

35,000

25,906

China

Suntien

Green

Energy

Corp.

Ltd.,

Class

H

31,000

12,723

China

Three

Gorges

Renewables

Group

Co.

Ltd.,

Class

A

23,800

15,414

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

H

(b)

1,100

9,782

China

Tower

Corp.

Ltd.,

Class

H

(b)

554,000

65,166

China

United

Network

Communications

Ltd.,

Class

A

26,200

16,969

China

Vanke

Co.

Ltd.,

Class

H

21,000

12,432

China

XD

Electric

Co.

Ltd.,

Class

A

4,700

4,589

China

Yangtze

Power

Co.

Ltd.,

Class

A

19,000

67,667

China

Zhenhua

Group

Science

&

Technology

Co.

Ltd.,

Class

A

600

3,868

China

Zheshang

Bank

Co.

Ltd.,

Class

A

30,000

12,428

China

Zheshang

Bank

Co.

Ltd.,

Class

H

54,000

15,604

Chongqing

Brewery

Co.

Ltd.,

Class

A

600

5,831

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

A

6,386

12,981

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

B

22,050

10,911

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

A

8,500

5,446

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

H

40,000

17,184

Chongqing

Zhifei

Biological

Products

Co.

Ltd.,

Class

A

1,100

5,332

CITIC

Ltd.

76,000

72,587

CITIC

Pacific

Special

Steel

Group

Co.

Ltd.,

Class

A

1,400

3,010

CITIC

Securities

Co.

Ltd.,

Class

A

8,935

23,456

CITIC

Securities

Co.

Ltd.,

Class

H

21,000

33,724

CMOC

Group

Ltd.,

Class

A

9,100

11,285

CMOC

Group

Ltd.,

Class

H

54,000

51,230

CNGR

Advanced

Material

Co.

Ltd.,

Class

A

800

5,794

CNPC

Capital

Co.

Ltd.,

Class

A

4,600

3,729

Contemporary

Amperex

Technology

Co.

Ltd.,

Class

A

3,500

97,922

COSCO

SHIPPING

Development

Co.

Ltd.,

Class

A

18,100

6,149

COSCO

Shipping

Energy

Transportation

Co.

Ltd.,

Class

A

1,700

3,740

COSCO

Shipping

Energy

Transportation

Co.

Ltd.,

Class

H

18,000

21,196

COSCO

Shipping

Holdings

Co.

Ltd.,

Class

A

13,100

21,292

COSCO

Shipping

Holdings

Co.

Ltd.,

Class

H

39,500

51,312

Country

Garden

Holdings

Co.

Ltd.

(a)

169,000

10,480

Country

Garden

Services

Holdings

Co.

Ltd.

30,000

20,253

CRRC

Corp.

Ltd.,

Class

A

22,400

21,622

CRRC

Corp.

Ltd.,

Class

H

58,000

32,184

CSC

Financial

Co.

Ltd.,

Class

A

1,400

4,317

Daqin

Railway

Co.

Ltd.,

Class

A

13,100

12,518

DaShenLin

Pharmaceutical

Group

Co.

Ltd.,

Class

A

1,500

4,511

Datang

International

Power

Generation

Co.

Ltd.,

Class

A

9,400

3,920

Datang

International

Power

Generation

Co.

Ltd.,

Class

H

42,000

8,324

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

DHC

Software

Co.

Ltd.,

Class

A

9,000

6,798

Do-Fluoride

New

Materials

Co.

Ltd.,

Class

A

2,700

5,157

Dong-E-E-Jiao

Co.

Ltd.,

Class

A

900

8,541

Dongfang

Electric

Corp.

Ltd.,

Class

H

10,200

13,928

Dongfeng

Motor

Group

Co.

Ltd.,

Class

H

38,000

13,847

Dongxing

Securities

Co.

Ltd.,

Class

A

5,300

6,455

East

Buy

Holding

Ltd.

(a)(b)

6,000

12,827

East

Money

Information

Co.

Ltd.,

Class

A

14,800

26,671

Eastroc

Beverage

Group

Co.

Ltd.,

Class

A

100

2,940

Ecovacs

Robotics

Co.

Ltd.,

Class

A

700

4,790

Empyrean

Technology

Co.

Ltd.,

Class

A

500

5,399

ENN

Energy

Holdings

Ltd.

9,600

83,036

ENN

Natural

Gas

Co.

Ltd.,

Class

A

1,800

4,489

Eoptolink

Technology,

Inc.

Ltd.,

Class

A

500

5,973

Eve

Energy

Co.

Ltd.,

Class

A

2,000

10,211

Everbright

Securities

Co.

Ltd.,

Class

A

4,000

9,147

Flat

Glass

Group

Co.

Ltd.,

Class

A

2,400

8,826

Flat

Glass

Group

Co.

Ltd.,

Class

H

6,000

14,591

Focus

Media

Information

Technology

Co.

Ltd.,

Class

A

12,100

10,861

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.,

Class

A

3,082

16,709

Founder

Securities

Co.

Ltd.,

Class

A

8,300

10,304

Foxconn

Industrial

Internet

Co.

Ltd.,

Class

A

8,700

29,434

Fujian

Sunner

Development

Co.

Ltd.,

Class

A

1,900

4,109

Full

Truck

Alliance

Co.

Ltd.,

ADR

10,456

90,026

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

A

2,100

14,450

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

H

(b)

7,600

45,719

GalaxyCore,

Inc.,

Class

A

1,901

4,355

Gan

&

Lee

Pharmaceuticals

Co.

Ltd.,

Class

A

(a)

800

5,528

Ganfeng

Lithium

Co.

Ltd.,

Class

H

(b)

5,560

16,493

Ganfeng

Lithium

Group

Co.

Ltd.,

Class

A

1,900

9,251

G-bits

Network

Technology

Xiamen

Co.

Ltd.,

Class

A

100

2,702

GD

Power

Development

Co.

Ltd.,

Class

A

10,200

7,226

GDS

Holdings

Ltd.,

ADR

(a)(c)

1,511

12,330

GEM

Co.

Ltd.,

Class

A

3,800

3,652

Gemdale

Corp.,

Class

A

16,500

9,069

Genscript

Biotech

Corp.

(a)

16,000

23,812

GF

Securities

Co.

Ltd.,

Class

A

2,000

3,648

GF

Securities

Co.

Ltd.,

Class

H

12,800

12,831

Giant

Biogene

Holding

Co.

Ltd.

(a)(b)

4,600

28,202

GigaDevice

Semiconductor

Beijing,

Inc.,

Class

A

480

5,220

Ginlong

Technologies

Co.

Ltd.,

Class

A

500

3,697

Glodon

Co.

Ltd.,

Class

A

2,000

3,124

GoerTek,

Inc.,

Class

A

1,400

3,055

Goldwind

Science

&

Technology

Co.

Ltd.,

Class

A

3,200

3,372

Goldwind

Science

&

Technology

Co.

Ltd.,

Class

H

15,000

6,041

Gongniu

Group

Co.

Ltd.,

Class

A

400

6,601

Gotion

High-tech

Co.

Ltd.,

Class

A

(a)

2,700

6,995

Great

Wall

Motor

Co.

Ltd.,

Class

A

1,700

6,151

Great

Wall

Motor

Co.

Ltd.,

Class

H

31,500

48,089

Gree

Electric

Appliances,

Inc.

of

Zhuhai,

Class

A

4,600

26,756

Greenland

Holdings

Corp.

Ltd.,

Class

A

(a)

16,500

4,192

Greentown

China

Holdings

Ltd.

16,000

14,136

GRG

Banking

Equipment

Co.

Ltd.,

Class

A

3,000

4,938

Guangdong

Haid

Group

Co.

Ltd.,

Class

A

800

5,509

Guanghui

Energy

Co.

Ltd.,

Class

A

3,200

3,266

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

H

20,000

8,311

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co.

Ltd.,

Class

A

300

1,329

50

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co.

Ltd.,

Class

H

4,000

10,689

Guangzhou

Haige

Communications

Group,

Inc.,

Co.,

Class

A

3,800

5,720

Guangzhou

Kingmed

Diagnostics

Group

Co.

Ltd.,

Class

A

500

2,648

Guangzhou

Shiyuan

Electronic

Technology

Co.

Ltd.,

Class

A

1,300

6,019

Guangzhou

Tinci

Materials

Technology

Co.

Ltd.,

Class

A

1,900

5,510

Guangzhou

Yuexiu

Capital

Holdings

Group

Co.

Ltd.,

Class

A

6,300

5,037

Guolian

Securities

Co.

Ltd.,

Class

H

(a)

16,000

7,446

Guosen

Securities

Co.

Ltd.,

Class

A

4,600

5,711

Guotai

Junan

Securities

Co.

Ltd.,

Class

A

4,900

9,311

Guotai

Junan

Securities

Co.

Ltd.,

Class

H

(b)

13,600

14,519

Guoyuan

Securities

Co.

Ltd.,

Class

A

4,900

4,615

H

World

Group

Ltd.

23,800

92,203

Haidilao

International

Holding

Ltd.

(b)

22,000

50,294

Haier

Smart

Home

Co.

Ltd.,

Class

A

4,900

20,476

Haier

Smart

Home

Co.

Ltd.,

Class

H

30,600

114,439

Hainan

Airlines

Holding

Co.

Ltd.,

Class

A

(a)

28,000

5,297

Hainan

Airport

Infrastructure

Co.

Ltd.,

Class

A

(a)

14,500

7,008

Haitian

International

Holdings

Ltd.

9,000

29,573

Haitong

Securities

Co.

Ltd.,

Class

H

72,000

34,614

Hangzhou

First

Applied

Material

Co.

Ltd.,

Class

A

328

1,233

Hangzhou

Lion

Microelectronics

Co.

Ltd.,

Class

A

1,900

5,799

Hangzhou

Oxygen

Plant

Group

Co.

Ltd.,

Class

A

1,000

3,773

Hangzhou

Robam

Appliances

Co.

Ltd.,

Class

A

1,500

4,907

Hangzhou

Silan

Microelectronics

Co.

Ltd.,

Class

A

3,600

9,535

Hangzhou

Tigermed

Consulting

Co.

Ltd.,

Class

A

700

5,714

Hangzhou

Tigermed

Consulting

Co.

Ltd.,

Class

H

(b)

1,800

7,997

Han's

Laser

Technology

Industry

Group

Co.

Ltd.,

Class

A

2,100

6,116

Hansoh

Pharmaceutical

Group

Co.

Ltd.

(b)

14,000

31,146

Haohua

Chemical

Science

&

Technology

Co.

Ltd.,

Class

A

1,100

4,723

Hebei

Hengshui

Laobaigan

Liquor

Co.

Ltd.,

Class

A

2,000

5,979

Heilongjiang

Agriculture

Co.

Ltd.,

Class

A

3,500

6,322

Henan

Shenhuo

Coal

&

Power

Co.

Ltd.,

Class

A

2,300

6,895

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.,

Class

A

2,300

8,556

Hengan

International

Group

Co.

Ltd.

9,000

30,379

Hengdian

Group

DMEGC

Magnetics

Co.

Ltd.,

Class

A

2,200

4,378

Hengli

Petrochemical

Co.

Ltd.,

Class

A

(a)

3,600

7,706

Hengtong

Optic-Electric

Co.

Ltd.,

Class

A

2,800

5,475

Hengyi

Petrochemical

Co.

Ltd.,

Class

A

(a)

4,600

4,758

Hisense

Home

Appliances

Group

Co.

Ltd.,

Class

H

5,000

21,128

Hithink

RoyalFlush

Information

Network

Co.

Ltd.,

Class

A

500

8,348

Hongta

Securities

Co.

Ltd.,

Class

A

4,300

4,293

Horizon

Construction

Development

Ltd.

(a)

703

178

Hoshine

Silicon

Industry

Co.

Ltd.,

Class

A

200

1,335

Hoyuan

Green

Energy

Co.

Ltd.,

Class

A

1,879

5,701

Hua

Hong

Semiconductor

Ltd.

(a)(b)

10,000

19,946

Huadian

Power

International

Corp.

Ltd.,

Class

A

3,600

3,361

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Huadian

Power

International

Corp.

Ltd.,

Class

H

24,000

13,134

Huadong

Medicine

Co.

Ltd.,

Class

A

1,200

5,459

Huafon

Chemical

Co.

Ltd.,

Class

A

5,600

6,295

Hualan

Biological

Engineering,

Inc.,

Class

A

2,600

6,991

Huaneng

Lancang

River

Hydropower,

Inc.,

Class

A

6,400

8,449

Huaneng

Power

International,

Inc.,

Class

A

(a)

6,400

8,272

Huaneng

Power

International,

Inc.,

Class

H

(a)

54,000

34,452

Huatai

Securities

Co.

Ltd.,

Class

A

3,700

7,036

Huatai

Securities

Co.

Ltd.,

Class

H

(b)

16,600

19,739

Huaxi

Securities

Co.

Ltd.,

Class

A

5,300

5,416

Huaxia

Bank

Co.

Ltd.,

Class

A

15,100

13,992

Huayu

Automotive

Systems

Co.

Ltd.,

Class

A

1,300

2,958

Hubei

Feilihua

Quartz

Glass

Co.

Ltd.,

Class

A

800

2,973

Hubei

Xingfa

Chemicals

Group

Co.

Ltd.,

Class

A

1,700

5,052

Huizhou

Desay

SV

Automaotive

Co.

Ltd.,

Class

A

500

8,691

Humanwell

Healthcare

Group

Co.

Ltd.,

Class

A

2,000

5,593

Hunan

Valin

Steel

Co.

Ltd.,

Class

A

7,400

5,334

Hundsun

Technologies,

Inc.,

Class

A

3,300

9,392

Hygeia

Healthcare

Holdings

Co.

Ltd.

(b)

4,200

17,426

Hygon

Information

Technology

Co.

Ltd.,

Class

A

1,082

11,841

IEIT

System

Co.

Ltd.,

Class

A

700

3,955

iFlytek

Co.

Ltd.,

Class

A

1,900

11,836

Imeik

Technology

Development

Co.

Ltd.,

Class

A

280

8,305

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

A

54,800

41,091

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

H

878,000

474,856

Industrial

Bank

Co.

Ltd.,

Class

A

14,700

34,205

Industrial

Securities

Co.

Ltd.,

Class

A

5,400

4,168

Ingenic

Semiconductor

Co.

Ltd.,

Class

A

100

882

Inner

Mongolia

BaoTou

Steel

Union

Co.

Ltd.,

Class

A

(a)

42,200

9,324

Inner

Mongolia

Erdos

Resources

Co.

Ltd.,

Class

B

5,200

5,273

Inner

Mongolia

Junzheng

Energy

&

Chemical

Industry

Group

Co.

Ltd.,

Class

A

8,600

5,000

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.,

Class

A

4,100

16,198

Inner

Mongolia

Yitai

Coal

Co.

Ltd.,

Class

B

12,900

25,129

Inner

Mongolia

Yuan

Xing

Energy

Co.

Ltd.,

Class

A

5,100

5,057

Innovent

Biologics,

Inc.

(a)(b)

16,000

78,249

iQIYI,

Inc.,

ADR

(a)

6,189

30,017

Isoftstone

Information

Technology

Group

Co.

Ltd.,

Class

A

(a)

800

4,656

J&T

Global

Express

Ltd.

(a)(c)

73,000

56,002

JA

Solar

Technology

Co.

Ltd.,

Class

A

3,576

7,022

Jason

Furniture

Hangzhou

Co.

Ltd.,

Class

A

1,000

4,611

JCET

Co.

Ltd.,

Class

A

300

1,068

JD

Health

International,

Inc.

(a)(b)

12,100

42,003

JD

Logistics,

Inc.

(a)(b)

29,700

32,468

JD.com,

Inc.,

Class

A

31,066

455,988

Jiangsu

Eastern

Shenghong

Co.

Ltd.,

Class

A

5,300

7,260

Jiangsu

Expressway

Co.

Ltd.,

Class

H

18,000

17,721

Jiangsu

Hengli

Hydraulic

Co.

Ltd.,

Class

A

944

6,648

Jiangsu

Hengrui

Pharmaceuticals  Co.

Ltd.,

Class

A

5,240

33,402

Jiangsu

King's

Luck

Brewery

JSC

Ltd.,

Class

A

1,000

7,929

Jiangsu

Pacific

Quartz

Co.

Ltd.,

Class

A

400

4,324

Jiangsu

Yanghe

Brewery

Joint-Stock

Co.

Ltd.,

Class

A

1,000

13,128

51

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Jiangsu

Yangnong

Chemical

Co.

Ltd.,

Class

A

700

6,228

Jiangsu

Yoke

Technology

Co.

Ltd.,

Class

A

600

5,318

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co.

Ltd.,

Class

A

1,000

5,337

Jiangsu

Zhongtian

Technology

Co.

Ltd.,

Class

A

3,700

6,934

Jiangxi

Copper

Co.

Ltd.,

Class

A

3,500

12,629

Jiangxi

Copper

Co.

Ltd.,

Class

H

12,000

24,702

Jinduicheng

Molybdenum

Co.

Ltd.,

Class

A

3,300

5,177

Jinko

Solar

Co.

Ltd.,

Class

A

5,470

5,718

JiuGui

Liquor

Co.

Ltd.,

Class

A

500

3,528

Joincare

Pharmaceutical

Group

Industry

Co.

Ltd.,

Class

A

3,300

5,537

Jonjee

High-Tech

Industrial

&

Commercial

Holding

Co.

Ltd.,

Class

A

(a)

1,100

4,481

Juewei

Food

Co.

Ltd.,

Class

A

900

2,524

Juneyao

Airlines

Co.

Ltd.,

Class

A

(a)

3,000

5,100

Kanzhun

Ltd.,

ADR

3,686

72,946

KE

Holdings,

Inc.,

Class

A

33,200

173,403

Keda

Clean

Energy

Co.

Ltd.,

Class

A

3,000

4,197

Kingdee

International

Software

Group

Co.

Ltd.

(a)

37,000

39,549

Kingfa

Sci

&

Tech

Co.

Ltd.,

Class

A

1,600

1,648

Kingnet

Network

Co.

Ltd.,

Class

A

2,500

4,070

Kingsoft

Corp.

Ltd.

12,200

40,166

Kuaishou

Technology,

Class

B

(a)(b)

26,600

190,287

Kuang-Chi

Technologies

Co.

Ltd.,

Class

A

(a)

3,200

8,666

Kunlun

Tech

Co.

Ltd.,

Class

A

(a)

1,100

6,073

Kweichow

Moutai

Co.

Ltd.,

Class

A

900

211,904

Lao

Feng

Xiang

Co.

Ltd.,

Class

B

3,000

11,964

LB

Group

Co.

Ltd.,

Class

A

3,600

10,440

Lenovo

Group

Ltd.

94,000

107,326

Lens

Technology

Co.

Ltd.,

Class

A

4,600

9,090

Lepu

Medical

Technology

Beijing

Co.

Ltd.,

Class

A

2,300

4,685

Levima

Advanced

Materials

Corp.,

Class

A

1,300

3,070

Li

Auto,

Inc.,

Class

A

(a)

13,100

174,193

Li

Ning

Co.

Ltd.

31,500

83,974

Liaoning

Port

Co.

Ltd.,

Class

A

15,300

3,042

Lingyi

iTech

Guangdong

Co.,

Class

A

1,200

863

Livzon

Pharmaceutical

Group,

Inc.,

Class

H

3,400

11,694

Longfor

Group

Holdings

Ltd.

(b)

16,500

24,894

LONGi

Green

Energy

Technology

Co.

Ltd.,

Class

A

6,036

15,170

Longshine

Technology

Group

Co.

Ltd.,

Class

A

1,700

2,341

Lufax

Holding

Ltd.,

ADR

2,999

13,166

Luxshare

Precision

Industry

Co.

Ltd.,

Class

A

5,500

22,178

Luzhou

Laojiao

Co.

Ltd.,

Class

A

1,100

28,269

Mango

Excellent

Media

Co.

Ltd.,

Class

A

1,800

5,826

Maxscend

Microelectronics

Co.

Ltd.,

Class

A

400

5,014

Meihua

Holdings

Group

Co.

Ltd.,

Class

A

4,100

6,296

Meinian

Onehealth

Healthcare

Holdings

Co.

Ltd.,

Class

A

(a)

8,900

5,432

Meituan,

Class

B

(a)(b)

57,070

799,003

Metallurgical

Corp.

of

China

Ltd.,

Class

A

12,900

5,825

Metallurgical

Corp.

of

China

Ltd.,

Class

H

71,000

13,889

Microport

Scientific

Corp.

(a)

11,100

8,927

Midea

Group

Co.

Ltd.,

Class

A

5,300

51,071

Ming

Yang

Smart

Energy

Group

Ltd.,

Class

A

300

406

MINISO

Group

Holding

Ltd.

6,400

36,946

Minth

Group

Ltd.

10,000

17,184

Montage

Technology

Co.

Ltd.,

Class

A

1,140

8,015

Muyuan

Foods

Co.

Ltd.,

Class

A

3,620

21,805

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Nanjing

King-Friend

Biochemical

Pharmaceutical

Co.

Ltd.,

Class

A

2,800

5,297

Nanjing

Securities

Co.

Ltd.,

Class

A

5,500

6,228

NARI

Technology

Co.

Ltd.,

Class

A

6,744

21,923

NAURA

Technology

Group

Co.

Ltd.,

Class

A

400

17,621

NavInfo

Co.

Ltd.,

Class

A

(a)

4,100

4,224

NetEase,

Inc.

23,400

449,678

New

China

Life

Insurance

Co.

Ltd.,

Class

A

2,000

8,700

New

China

Life

Insurance

Co.

Ltd.,

Class

H

10,700

20,685

New

Hope

Liuhe

Co.

Ltd.,

Class

A

(a)

10,800

13,303

New

Oriental

Education

&

Technology

Group,

Inc.

(a)

18,300

146,354

Ninestar

Corp.,

Class

A

300

1,049

Ningbo

Deye

Technology

Co.

Ltd.,

Class

A

440

5,680

Ningbo

Shanshan

Co.

Ltd.,

Class

A

900

1,473

Ningbo

Tuopu

Group

Co.

Ltd.,

Class

A

1,200

10,425

Ningbo

Zhoushan

Port

Co.

Ltd.,

Class

A

3,200

1,595

Ningxia

Baofeng

Energy

Group

Co.

Ltd.,

Class

A

7,200

16,495

NIO,

Inc.,

Class

A

(a)

16,490

75,374

Nongfu

Spring

Co.

Ltd.,

Class

H

(b)

23,600

139,406

North

Industries

Group

Red

Arrow

Co.

Ltd.,

Class

A

2,800

5,177

Offcn

Education

Technology

Co.

Ltd.,

Class

A

(a)

8,700

3,196

Onewo,

Inc.,

Class

H

2,600

6,931

Oppein

Home

Group,

Inc.,

Class

A

700

6,033

Orient

Securities

Co.

Ltd.,

Class

A

3,192

3,681

Orient

Securities

Co.

Ltd.,

Class

H

(b)

14,800

6,169

Oriental

Pearl

Group

Co.

Ltd.,

Class

A

7,400

7,051

Ovctek

China,

Inc.,

Class

A

2,100

5,461

Pangang

Group

Vanadium

Titanium

&

Resources

Co.

Ltd.,

Class

A

(a)

9,200

3,951

People.cn

Co.

Ltd.,

Class

A

900

3,093

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

A

8,800

6,380

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

H

122,000

40,244

Perfect

World

Co.

Ltd.,

Class

A

2,500

3,452

PetroChina

Co.

Ltd.,

Class

A

15,500

21,982

PetroChina

Co.

Ltd.,

Class

H

288,000

271,754

Pharmaron

Beijing

Co.

Ltd.,

Class

A

1,300

3,546

Pharmaron

Beijing

Co.

Ltd.,

Class

H

(b)

4,300

5,338

PICC

Property

&

Casualty

Co.

Ltd.,

Class

H

90,000

112,425

Ping

An

Bank

Co.

Ltd.,

Class

A

16,400

24,436

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

A

13,100

74,821

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

84,000

386,104

Poly

Developments

and

Holdings

Group

Co.

Ltd.,

Class

A

12,400

15,257

Poly

Property

Services

Co.

Ltd.,

Class

H

2,800

11,456

Pop

Mart

International

Group

Ltd.

(b)

8,800

38,142

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

A

15,200

10,075

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

H

(b)

127,000

66,413

Power

Construction

Corp.

of

China

Ltd.,

Class

A

7,800

5,472

Quinghai

Salt

Lake

Industry

Co.

Ltd.,

Class

A

(a)

7,300

16,724

Remegen

Co.

Ltd.,

Class

H

(a)(b)

2,000

7,147

Rongsheng

Petrochemical

Co.

Ltd.,

Class

A

6,500

10,062

SAIC

Motor

Corp.

Ltd.,

Class

A

6,400

13,133

Sailun

Group

Co.

Ltd.,

Class

A

3,400

7,794

Sanan

Optoelectronics

Co.

Ltd.,

Class

A

3,800

6,575

Sangfor

Technologies,

Inc.,

Class

A

(a)

500

3,780

52

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Sany

Heavy

Equipment

International

Holdings

Co.

Ltd.

15,000

10,567

Sany

Heavy

Industry

Co.

Ltd.,

Class

A

5,500

12,388

Satellite

Chemical

Co.

Ltd.,

Class

A

(a)

1,942

5,170

SDIC

Capital

Co.

Ltd.,

Class

A

7,100

6,275

SDIC

Power

Holdings

Co.

Ltd.,

Class

A

5,900

13,060

Sealand

Securities

Co.

Ltd.,

Class

A

12,400

5,753

Sensetime

Group,

Inc.,

Class

B

(a)(b)

230,000

35,877

Seres

Group

Co.

Ltd.,

Class

A

(a)

1,300

16,363

SF

Holding

Co.

Ltd.,

Class

A

4,200

21,025

SG

Micro

Corp.,

Class

A

500

5,308

Shaanxi

Coal

Industry

Co.

Ltd.,

Class

A

6,300

21,341

Shaanxi

Energy

Investment

Co.

Ltd.,

Class

A

4,300

5,956

Shandong

Gold

Mining

Co.

Ltd.,

Class

A

3,400

13,555

Shandong

Gold

Mining

Co.

Ltd.,

Class

H

(b)

9,900

21,569

Shandong

Hualu

Hengsheng

Chemical

Co.

Ltd.,

Class

A

1,300

5,348

Shandong

Linglong

Tyre

Co.

Ltd.,

Class

A

2,100

6,496

Shandong

Nanshan

Aluminum

Co.

Ltd.,

Class

A

19,400

9,591

Shandong

Sinocera

Functional

Material

Co.

Ltd.,

Class

A

1,500

4,018

Shandong

Sun

Paper

Industry

JSC

Ltd.,

Class

A

2,800

6,013

Shandong

Weigao

Group

Medical

Polymer

Co.

Ltd.,

Class

H

30,400

20,756

Shanghai

Aiko

Solar

Energy

Co.

Ltd.,

Class

A

1,700

2,805

Shanghai

Bairun

Investment

Holding

Group

Co.

Ltd.,

Class

A

1,200

3,381

Shanghai

Baosight

Software

Co.

Ltd.,

Class

A

1,528

8,658

Shanghai

Baosight

Software

Co.

Ltd.,

Class

B

9,920

21,239

Shanghai

Electric

Group

Co.

Ltd.,

Class

A

(a)

13,500

8,035

Shanghai

Electric

Group

Co.

Ltd.,

Class

H

(a)

38,000

7,774

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

A

500

1,634

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

H

8,000

12,602

Shanghai

Fudan

Microelectronics

Group

Co.

Ltd.,

Class

A

848

3,788

Shanghai

Fudan

Microelectronics

Group

Co.

Ltd.,

Class

H

5,000

6,943

Shanghai

International

Airport

Co.

Ltd.,

Class

A

(a)

2,200

11,435

Shanghai

International

Port

Group

Co.

Ltd.,

Class

A

7,800

6,043

Shanghai

Jinjiang

International

Hotels

Co.

Ltd.,

Class

A

1,900

7,585

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

H

(a)(b)

1,600

2,406

Shanghai

Lingang

Holdings

Corp.,

Ltd.,

Class

A

3,600

5,245

Shanghai

Microport

Medbot

Group

Co.

Ltd.

(a)

3,000

5,715

Shanghai

Pharmaceuticals

Holding

Co.

Ltd.,

Class

H

11,500

16,380

Shanghai

Pudong

Development

Bank

Co.

Ltd.,

Class

A

21,000

22,330

Shanghai

Putailai

New

Energy

Technology

Co.

Ltd.,

Class

A

730

1,866

Shanghai

RAAS

Blood

Products

Co.

Ltd.,

Class

A

8,500

8,428

Shanghai

Rural

Commercial

Bank

Co.

Ltd.,

Class

A

12,400

11,575

Shanghai

Yuyuan

Tourist

Mart

Group

Co.

Ltd.,

Class

A

5,800

4,750

Shanghai

Zhangjiang

High-Tech

Park

Development

Co.

Ltd.,

Class

A

1,400

3,584

Shanghai

Zhonggu

Logistics

Co.

Ltd.,

Class

A

3,200

3,822

Shanxi

Coking

Coal

Energy

Group

Co.

Ltd.,

Class

A

6,600

9,570

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Shanxi

Lu'an

Environmental

Energy

Development

Co.

Ltd.,

Class

A

1,900

5,547

Shanxi

Meijin

Energy

Co.

Ltd.,

Class

A

(a)

6,100

5,122

Shanxi

Securities

Co.

Ltd.,

Class

A

8,500

6,162

Shanxi

Taigang

Stainless

Steel

Co.

Ltd.,

Class

A

12,800

6,823

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.,

Class

A

860

31,152

Shede

Spirits

Co.

Ltd.,

Class

A

600

6,060

Shenergy

Co.

Ltd.,

Class

A

5,700

6,698

Shengyi

Technology

Co.

Ltd.,

Class

A

3,100

8,326

Shennan

Circuits

Co.

Ltd.,

Class

A

200

2,580

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

A

18,000

11,683

Shenzhen

Capchem

Technology

Co.

Ltd.,

Class

A

900

4,185

Shenzhen

Energy

Group

Co.

Ltd.,

Class

A

7,800

7,788

Shenzhen

Goodix

Technology

Co.

Ltd.,

Class

A

(a)

400

3,399

Shenzhen

Han's

CNC

Technology

Co.

Ltd.,

Class

A

900

4,349

Shenzhen

Inovance

Technology

Co.

Ltd.,

Class

A

2,400

19,720

Shenzhen

Kangtai

Biological

Products

Co.

Ltd.,

Class

A

1,500

4,184

Shenzhen

Mindray

Bio-Medical

Electronics

Co.

Ltd.,

Class

A

1,000

42,062

Shenzhen

New

Industries

Biomedical

Engineering

Co.

Ltd.,

Class

A

600

5,858

Shenzhen

Overseas

Chinese

Town

Co.

Ltd.,

Class

A

(a)

10,900

3,974

Shenzhen

Salubris

Pharmaceuticals

Co.

Ltd.,

Class

A

1,200

5,289

Shenzhen

Transsion

Holdings

Co.

Ltd.,

Class

A

581

11,553

Shenzhou

International

Group

Holdings

Ltd.

10,200

101,984

Shijiazhuang

Yiling

Pharmaceutical

Co.

Ltd.,

Class

A

2,100

5,461

Sichuan

Chuantou

Energy

Co.

Ltd.,

Class

A

6,300

14,572

Sichuan

Hebang

Corp.

Ltd.,

Class

A

18,200

5,278

Sichuan

Kelun

Pharmaceutical

Co.

Ltd.,

Class

A

1,800

8,439

Sichuan

Road

and

Bridge

Group

Co.

Ltd.,

Class

A

4,560

4,565

Sichuan

Swellfun

Co.

Ltd.,

Class

A

800

4,981

Sieyuan

Electric

Co.

Ltd.,

Class

A

800

7,196

Sinolink

Securities

Co.

Ltd.,

Class

A

5,100

6,169

Sinoma

International

Engineering

Co.,

Class

A

3,300

5,783

Sinoma

Science

&

Technology

Co.

Ltd.,

Class

A

2,500

5,358

Sinomach

Heavy

Equipment

Group

Co.

Ltd.,

Class

A

(a)

17,300

7,048

Sinopec

Shanghai

Petrochemical

Co.

Ltd.,

Class

H

(a)

76,000

10,786

Sinopharm

Group

Co.

Ltd.,

Class

H

18,000

45,660

Sinotrans

Ltd.,

Class

H

27,000

13,015

Sinotruk

Hong

Kong

Ltd.

9,000

22,508

Skshu

Paint

Co.

Ltd.,

Class

A

(a)

600

2,823

Smoore

International

Holdings

Ltd.

(b)

18,000

15,811

Songcheng

Performance

Development

Co.

Ltd.,

Class

A

3,600

5,399

SooChow

Securities

Co.

Ltd.,

Class

A

5,300

5,006

Spring

Airlines

Co.

Ltd.,

Class

A

(a)

1,100

8,627

StarPower

Semiconductor

Ltd.,

Class

A

100

1,925

Sungrow

Power

Supply

Co.

Ltd.,

Class

A

1,200

17,126

Sunny

Optical

Technology

Group

Co.

Ltd.

8,300

40,751

Sunresin

New

Materials

Co.

Ltd.,

Class

A

600

3,878

Sunwoda

Electronic

Co.

Ltd.,

Class

A

2,700

5,671

SUPCON

Technology

Co.

Ltd.,

Class

A

674

4,437

53

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Suzhou

Dongshan

Precision

Manufacturing

Co.

Ltd.,

Class

A

400

850

Suzhou

Maxwell

Technologies

Co.

Ltd.,

Class

A

300

4,748

Suzhou

TFC

Optical

Communication

Co.

Ltd.,

Class

A

200

4,456

TAL

Education

Group,

ADR

(a)

5,700

68,628

Tangshan

Jidong

Cement

Co.

Ltd.,

Class

A

7,400

5,273

TBEA

Co.

Ltd.,

Class

A

2,320

4,533

TCL

Technology

Group

Corp.,

Class

A

(a)

18,300

12,080

Tencent

Holdings

Ltd.

79,000

3,506,981

Tencent

Music

Entertainment

Group,

Class

A

(a)

16,700

105,907

Thunder

Software

Technology

Co.

Ltd.,

Class

A

500

3,363

Tianjin

Zhonghuan

Semiconductor

Co.

Ltd.,

Class

A

5,150

7,418

Tianqi

Lithium

Corp.,

Class

A

1,600

8,730

Tianqi

Lithium

Corp.,

Class

H

3,000

11,661

Tianshan

Aluminum

Group

Co.

Ltd.,

Class

A

5,100

5,324

Tingyi

Cayman

Islands

Holding

Corp.

24,000

26,605

Toly

Bread

Co.

Ltd.,

Class

A

6,500

5,502

Tongcheng

Travel

Holdings

Ltd.

(a)

16,800

44,571

TongKun

Group

Co.

Ltd.,

Class

A

(a)

3,300

6,275

Tongling

Nonferrous

Metals

Group

Co.

Ltd.,

Class

A

16,100

8,982

Tongwei

Co.

Ltd.,

Class

A

2,500

7,492

Topchoice

Medical

Corp.,

Class

A

(a)

900

7,555

Topsports

International

Holdings

Ltd.

(b)

36,000

25,132

Travelsky

Technology

Ltd.,

Class

H

14,000

18,330

Trina

Solar

Co.

Ltd.,

Class

A

1,935

5,686

Trip.com

Group

Ltd.

(a)

7,100

349,862

Tsingtao

Brewery

Co.

Ltd.,

Class

A

300

3,395

Tsingtao

Brewery

Co.

Ltd.,

Class

H

8,000

58,047

Unigroup

Guoxin

Microelectronics

Co.

Ltd.,

Class

A

(a)

279

2,254

Uni-President

China

Holdings

Ltd.

19,000

14,600

Unisplendour

Corp.

Ltd.,

Class

A

(a)

3,500

10,126

Venustech

Group,

Inc.,

Class

A

1,500

4,070

Verisilicon

Microelectronics

Shanghai

Co.

Ltd.,

Class

A

(a)

159

724

Vipshop

Holdings

Ltd.,

ADR

4,851

72,959

Wanda

Film

Holding

Co.

Ltd.,

Class

A

(a)

2,600

5,253

Wangfujing

Group

Co.

Ltd.,

Class

A

1,800

3,390

Wanhua

Chemical

Group

Co.

Ltd.,

Class

A

2,300

28,299

Weibo

Corp.,

ADR

1,188

10,241

Weichai

Power

Co.

Ltd.,

Class

A

8,800

21,133

Weichai

Power

Co.

Ltd.,

Class

H

23,000

47,346

Weihai

Guangwei

Composites

Co.

Ltd.,

Class

A

1,600

5,756

Wens

Foodstuffs

Group

Co.

Ltd.,

Class

A

5,600

14,832

Western

Mining

Co.

Ltd.,

Class

A

3,100

8,605

Western

Securities

Co.

Ltd.,

Class

A

6,400

6,540

Will

Semiconductor

Ltd.,

Class

A

1,040

14,591

Wingtech

Technology

Co.

Ltd.,

Class

A

(a)

1,000

4,350

Wintime

Energy

Group

Co.

Ltd.,

Class

A

(a)

36,200

6,749

Wuhan

Guide

Infrared

Co.

Ltd.,

Class

A

6,200

6,002

Wuliangye

Yibin

Co.

Ltd.,

Class

A

2,800

58,165

WUS

Printed

Circuit

Kunshan

Co.

Ltd.,

Class

A

2,300

10,640

Wuxi

AppTec

Co.

Ltd.,

Class

A

4,340

26,172

Wuxi

AppTec

Co.

Ltd.,

Class

H

(b)

6,200

28,102

Wuxi

Biologics

Cayman,

Inc.

(a)(b)

48,000

84,325

Wuxi

Lead

Intelligent

Equipment

Co.

Ltd.,

Class

A

1,700

5,235

XCMG

Construction

Machinery

Co.

Ltd.,

Class

A

8,000

7,766

Xiamen

Faratronic

Co.

Ltd.,

Class

A

300

4,081

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Xiamen

Tungsten

Co.

Ltd.,

Class

A

2,300

6,089

Xiaomi

Corp.,

Class

B

(a)(b)

207,200

458,843

Xinhu

Zhongbao

Co.

Ltd.,

Class

A

14,700

4,344

Xinjiang

Daqo

New

Energy

Co.

Ltd.,

Class

A

1,254

4,232

Xinjiang

Tianshan

Cement

Co.

Ltd.,

Class

A

1,900

1,690

Xinyi

Solar

Holdings

Ltd.

46,266

32,298

XPeng,

Inc.,

Class

A

(a)

14,700

59,298

Yadea

Group

Holdings

Ltd.

(b)

16,000

30,890

Yankuang

Energy

Group

Co.

Ltd.,

Class

A

1,500

4,785

Yankuang

Energy

Group

Co.

Ltd.,

Class

H

(c)

30,000

65,361

Yantai

Jereh

Oilfield

Services

Group

Co.

Ltd.,

Class

A

1,200

5,293

Yealink

Network

Technology

Corp.,

Ltd.,

Class

A

1,300

6,344

Yifeng

Pharmacy

Chain

Co.

Ltd.,

Class

A

1,100

6,675

Yihai

Kerry

Arawana

Holdings

Co.

Ltd.,

Class

A

1,300

5,637

Yintai

Gold

Co.

Ltd.,

Class

A

(a)

2,800

7,161

Yongan

Futures

Co.

Ltd.,

Class

A

3,700

6,882

Yonghui

Superstores

Co.

Ltd.,

Class

A

(a)

10,600

3,557

YongXing

Special

Materials

Technology

Co.

Ltd.,

Class

A

630

4,139

Yonyou

Network

Technology

Co.

Ltd.,

Class

A

5,200

8,358

Youngor

Fashion

Co.

Ltd.,

Class

A

5,800

6,255

YSB,

Inc.

(a)

3,400

3,521

YTO

Express

Group

Co.

Ltd.,

Class

A

2,600

5,702

Yunda

Holding

Co.

Ltd.,

Class

A

4,500

4,878

Yunnan

Aluminium

Co.

Ltd.,

Class

A

2,300

4,570

Yunnan

Baiyao

Group

Co.

Ltd.,

Class

A

1,180

9,329

Yunnan

Botanee

Bio-Technology

Group

Co.

Ltd.,

Class

A

600

4,736

Yunnan

Chihong

Zinc

&

Germanium

Co.

Ltd.,

Class

A

7,600

6,024

Yunnan

Energy

New

Material

Co.

Ltd.,

Class

A

1,200

6,895

Yunnan

Tin

Co.

Ltd.,

Class

A

2,700

6,148

Yunnan

Yuntianhua

Co.

Ltd.,

Class

A

2,300

6,432

Zai

Lab

Ltd.,

ADR

(a)(c)

1,209

19,102

Zangge

Mining

Co.

Ltd.,

Class

A

1,900

7,567

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.,

Class

A

400

13,104

Zhaojin

Mining

Industry

Co.

Ltd.,

Class

H

19,000

31,095

Zhejiang

Century

Huatong

Group

Co.

Ltd.,

Class

A

(a)

900

582

Zhejiang

China

Commodities

City

Group

Co.

Ltd.,

Class

A

6,500

7,854

Zhejiang

Chint

Electrics

Co.

Ltd.,

Class

A

2,400

6,844

Zhejiang

Dahua

Technology

Co.

Ltd.,

Class

A

2,500

6,211

Zhejiang

Expressway

Co.

Ltd.,

Class

H

22,000

14,430

Zhejiang

Huahai

Pharmaceutical

Co.

Ltd.,

Class

A

2,600

6,014

Zhejiang

Huayou

Cobalt

Co.

Ltd.,

Class

A

2,050

8,065

Zhejiang

Jiuzhou

Pharmaceutical

Co.

Ltd.,

Class

A

1,200

2,671

Zhejiang

Juhua

Co.

Ltd.,

Class

A

3,200

10,451

Zhejiang

Leapmotor

Technology

Co.

Ltd.

(a)(b)

8,200

28,465

Zhejiang

Longsheng

Group

Co.

Ltd.,

Class

A

3,500

4,422

Zhejiang

NHU

Co.

Ltd.,

Class

A

2,780

7,371

Zhejiang

Provincial

New

Energy

Investment

Group

Co.

Ltd.,

Class

A

6,500

6,768

Zhejiang

Sanhua

Intelligent

Controls

Co.

Ltd.,

Class

A

2,900

8,774

Zhejiang

Supor

Co.

Ltd.,

Class

A

700

5,694

Zhejiang

Weiming

Environment

Protection

Co.

Ltd.,

Class

A

1,900

5,772

54

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

China

–

23.2%

(continued)

Zhejiang

Weixing

New

Building

Materials

Co.

Ltd.,

Class

A

2,300

5,577

Zhejiang

Zheneng

Electric

Power

Co.

Ltd.,

Class

A

(a)

7,100

6,108

Zhengzhou

Coal

Mining

Machinery

Group

Co.

Ltd.,

Class

H

5,800

9,566

Zheshang

Securities

Co.

Ltd.,

Class

A

5,600

8,739

Zhongan

Online

P&c

Insurance

Co.

Ltd.,

Class

H

(a)(b)

10,100

17,123

Zhongji

Innolight

Co.

Ltd.,

Class

A

600

15,437

Zhongjin

Gold

Corp.

Ltd.,

Class

A

5,000

9,059

Zhongsheng

Group

Holdings

Ltd.

9,500

17,467

Zhongtai

Securities

Co.

Ltd.,

Class

A

9,900

9,105

Zhuzhou

CRRC

Times

Electric

Co.

Ltd.,

Class

A

3,669

24,178

Zhuzhou

CRRC

Times

Electric

Co.

Ltd.,

Class

H

800

2,884

Zijin

Mining

Group

Co.

Ltd.,

Class

A

17,600

42,800

Zijin

Mining

Group

Co.

Ltd.,

Class

H

74,000

163,683

Zjld

Group,

Inc.

(a)(b)

5,400

7,346

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.,

Class

A

7,200

8,461

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.,

Class

H

27,000

20,609

ZTE

Corp.,

Class

A

3,800

15,045

ZTE

Corp.,

Class

H

1,000

2,179

ZTO

Express

Cayman,

Inc.

4,150

88,506

ZX,

Inc.

(a)

3,000

8,554

22,728,054

Colombia

–

0.1%

Bancolombia

SA

2,956

25,672

Ecopetrol

SA

73,214

42,890

Interconexion

Electrica

SA

ESP

4,817

22,402

90,964

Czech

Republic

–

0.1%

CEZ

AS

2,084

77,005

Komercni

Banka

AS

947

34,972

111,977

Egypt

–

0.1%

Commercial

International

Bank

Egypt

SAE

37,145

55,815

Greece

–

0.5%

Alpha

Services

And

Holdings

SA

(a)

24,970

42,519

Eurobank

Ergasias

Services

&

Holdings

SA

(a)

32,941

70,797

Hellenic

Telecommunications

Organization

SA

2,335

35,653

Jumbo

SA

1,347

42,028

Motor

Oil

Hellas

Corinth

Refineries

SA

742

21,548

Mytilineos

SA

1,396

57,020

National

Bank

of

Greece

SA

(a)

6,831

55,219

OPAP

SA

2,641

44,081

Piraeus

Financial

Holdings

SA

(a)

8,225

33,200

Public

Power

Corp.

SA

(a)

2,628

31,584

Star

Bulk

Carriers

Corp.

893

21,718

Terna

Energy

SA

787

15,349

470,716

Hong

Kong

–

1.0%

Beijing

Enterprises

Holdings

Ltd.

6,500

20,860

Beijing

Enterprises

Water

Group

Ltd.

(c)

64,000

16,202

BOC

Hong

Kong

Holdings

Ltd.

39,500

121,967

C&D

International

Investment

Group

Ltd.

6,000

11,983

China

Everbright

Environment

Group

Ltd.

55,000

22,433

China

Jinmao

Holdings

Group

Ltd.

140,000

11,993

China

Medical

System

Holdings

Ltd.

17,000

15,237

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Hong

Kong

–

1.0%

(continued)

China

Merchants

Port

Holdings

Co.

Ltd.

16,000

21,194

China

Overseas

Land

&

Investment

Ltd.

56,500

105,325

China

Overseas

Property

Holdings

Ltd.

20,000

12,249

China

Power

International

Development

Ltd.

63,000

25,454

China

Resources

Beer

Holdings

Co.

Ltd.

20,000

92,057

China

Resources

Building

Materials

Technology

Holdings

Ltd.

50,000

8,503

China

Resources

Gas

Group

Ltd.

11,500

36,391

China

Resources

Land

Ltd.

36,000

130,952

China

Resources

Power

Holdings

Co.

Ltd.

20,000

49,864

China

Ruyi

Holdings

Ltd.

(a)

88,000

22,165

China

State

Construction

International

Holdings

Ltd.

24,000

25,408

China

Taiping

Insurance

Holdings

Co.

Ltd.

21,200

19,516

Far

East

Horizon

Ltd.

19,000

14,139

Guangdong

Investment

Ltd.

34,000

17,823

Kunlun

Energy

Co.

Ltd.

50,000

48,778

Orient

Overseas

International

Ltd.

1,500

21,921

Shandong

Hi-Speed

Holdings

Group

Ltd.

(a)

41,000

37,324

Want

Want

China

Holdings

Ltd.

58,000

33,148

Yuexiu

Property

Co.

Ltd.

22,000

13,220

956,106

Hungary

–

0.2%

MOL

Hungarian

Oil

&

Gas

PLC

6,279

51,701

OTP

Bank

NYRT

3,046

151,650

Richter

Gedeon

NYRT

1,740

44,457

247,808

India

–

19.3%

ABB

India

Ltd.

612

47,976

ACC

Ltd.

904

27,431

Adani

Energy

Solutions

Ltd.

(a)

3,525

45,002

Adani

Enterprises

Ltd.

4,058

148,568

Adani

Green

Energy

Ltd.

(a)

3,998

86,138

Adani

Ports

&

Special

Economic

Zone

Ltd.

9,799

155,600

Adani

Power

Ltd.

(a)

12,620

92,635

Adani

Total

Gas

Ltd.

2,925

32,571

Adani

Wilmar

Ltd.

(a)

2,203

9,442

Aditya

Birla

Capital

Ltd.

(a)

6,485

17,985

Alkem

Laboratories

Ltd.

383

22,185

Ambuja

Cements

Ltd.

8,259

61,361

APL

Apollo

Tubes

Ltd.

2,145

40,034

Apollo

Hospitals

Enterprise

Ltd.

1,271

90,593

Ashok

Leyland

Ltd.

18,220

42,069

Asian

Paints

Ltd.

5,354

184,543

Astral

Ltd.

1,528

38,790

AU

Small

Finance

Bank

Ltd.

(b)

5,929

45,024

Aurobindo

Pharma

Ltd.

3,607

49,867

Avenue

Supermarts

Ltd.

(a)(b)

1,901

104,892

Axis

Bank

Ltd.

30,083

420,366

Bajaj

Auto

Ltd.

926

98,815

Bajaj

Finance

Ltd.

3,497

290,182

Bajaj

Finserv

Ltd.

5,139

99,471

Bajaj

Holdings

&

Investment

Ltd.

353

34,338

Balkrishna

Industries

Ltd.

976

28,424

Bandhan

Bank

Ltd.

(b)

10,217

23,058

Bank

of

Baroda

12,325

41,583

Bank

of

India

9,310

17,306

Berger

Paints

India

Ltd.

3,094

18,858

Bharat

Electronics

Ltd.

49,450

138,536

Bharat

Forge

Ltd.

3,241

49,379

Bharat

Heavy

Electricals

Ltd.

16,355

55,218

55

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

India

–

19.3%

(continued)

Bharat

Petroleum

Corp.

Ltd.

11,458

83,405

Bharti

Airtel

Ltd.

31,732

502,890

Biocon

Ltd.

6,415

22,954

Bosch

Ltd.

104

36,591

Britannia

Industries

Ltd.

1,539

88,093

Canara

Bank

4,472

33,335

CG

Power

&

Industrial

Solutions

Ltd.

8,034

53,339

Cholamandalam

Investment

&

Finance

Co.

Ltd.

5,384

77,002

Cipla

Ltd.

7,146

119,905

Coal

India

Ltd.

27,946

152,163

Colgate-Palmolive

India

Ltd.

1,733

58,673

Container

Corp.

of

India

Ltd.

3,458

42,605

Cummins

India

Ltd.

1,718

67,443

Dabur

India

Ltd.

7,373

44,868

Dalmia

Bharat

Ltd.

1,020

22,471

Deepak

Nitrite

Ltd.

987

28,752

Delhivery

Ltd.

(a)

3,603

19,389

Divi's

Laboratories

Ltd.

1,563

74,976

DLF

Ltd.

9,110

97,377

Dr.

Reddy's

Laboratories

Ltd.

1,542

114,663

Eicher

Motors

Ltd.

1,818

100,173

Embassy

Office

Parks

REIT

(d)

7,540

32,504

FSN

E-Commerce

Ventures

Ltd.

(a)

13,834

29,306

Gail

India

Ltd.

34,445

86,323

General

Insurance

Corp.

of

India

(b)

2,777

11,513

Gland

Pharma

Ltd.

(a)(b)

805

16,510

Godrej

Consumer

Products

Ltd.

5,240

76,588

Godrej

Properties

Ltd.

(a)

1,401

44,457

Grasim

Industries

Ltd.

4,347

125,646

Gujarat

Fluorochemicals

Ltd.

457

19,848

Gujarat

Gas

Ltd.

2,329

15,258

Havells

India

Ltd.

2,996

59,750

HCL

Technologies

Ltd.

13,955

228,569

HDFC

Asset

Management

Co.

Ltd.

(b)

988

46,118

HDFC

Bank

Ltd.

36,232

660,100

HDFC

Life

Insurance

Co.

Ltd.

(b)

12,240

85,621

Hero

Motocorp

Ltd.

1,648

89,733

Hindalco

Industries

Ltd.

18,687

144,325

Hindustan

Aeronautics

Ltd.

2,221

104,862

Hindustan

Petroleum

Corp.

Ltd.

8,288

49,210

Hindustan

Unilever

Ltd.

11,695

312,635

Honeywell

Automation

India

Ltd.

28

15,148

ICICI

Bank

Ltd.

67,011

923,932

ICICI

Lombard

General

Insurance

Co.

Ltd.

(b)

3,127

64,111

ICICI

Prudential

Life

Insurance

Co.

Ltd.

(b)

4,024

27,630

IDFC

First

Bank

Ltd.

(a)

36,821

36,253

Indian

Bank

2,806

18,438

Indian

Hotels

Co.

Ltd.,

Class

A

10,741

74,247

Indian

Oil

Corp.

Ltd.

51,661

104,546

Indian

Railway

Catering

&

Tourism

Corp.

Ltd.

3,849

47,919

Indian

Railway

Finance

Corp.

Ltd.

(b)

22,730

42,839

Indraprastha

Gas

Ltd.

4,601

25,874

Indus

Towers

Ltd.

(a)

10,959

46,602

Indusind

Bank

Ltd.

7,796

141,622

Info

Edge

India

Ltd.

962

69,798

Infosys

Ltd.

46,577

793,000

InterGlobe

Aviation

Ltd.

(a)(b)

1,396

66,629

ITC

Ltd.

39,906

208,363

Jindal

Stainless

Ltd.

3,763

31,884

Jindal

Steel

&

Power

Ltd.

5,146

57,337

Jio

Financial

Services

Ltd.

(a)

43,267

195,498

JSW

Energy

Ltd.

4,762

35,931

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

India

–

19.3%

(continued)

JSW

Steel

Ltd.

12,473

131,881

Jubilant

Foodworks

Ltd.

5,211

28,929

Kotak

Mahindra

Bank

Ltd.

13,808

268,750

L&T

Technology

Services

Ltd.

(b)

346

19,242

Larsen

&

Toubro

Ltd.

8,866

381,933

Life

Insurance

Corp.

of

India

3,018

35,385

Linde

India

Ltd.

243

24,044

LTIMindtree

Ltd.

(b)

1,218

68,704

Lupin

Ltd.

2,989

58,962

Macrotech

Developers

Ltd.

(b)

2,967

44,045

Mahindra

&

Mahindra

Financial

Services

Ltd.

7,487

23,434

Mahindra

&

Mahindra

Ltd.

11,615

300,181

Mankind

Pharma

Ltd.

(a)

430

12,185

Marico

Ltd.

6,017

37,356

Maruti

Suzuki

India

Ltd.

1,754

269,450

Max

Financial

Services

Ltd.

(a)

2,839

34,397

Max

Healthcare

Institute

Ltd.

9,357

94,236

Mazagon

Dock

Shipbuilders

Ltd.

369

10,388

Mphasis

Ltd.

1,107

30,713

MRF

Ltd.

26

41,451

Muthoot

Finance

Ltd.

1,206

24,871

Nestle

India

Ltd.

4,780

143,647

NHPC

Ltd.

32,095

37,005

NMDC

Ltd.

14,491

44,184

NTPC

Ltd.

63,569

276,717

Oberoi

Realty

Ltd.

1,243

22,098

Oil

&

Natural

Gas

Corp.

Ltd.

51,129

173,328

One

97

Communications

Ltd.

(a)

3,739

16,688

Oracle

Financial

Services

Software

Ltd.

242

22,039

Page

Industries

Ltd.

66

27,515

Patanjali

Foods

Ltd.

875

15,843

PB

Fintech

Ltd.

(a)

3,112

47,178

Persistent

Systems

Ltd.

1,280

51,678

Petronet

LNG

Ltd.

9,370

34,875

PI

Industries

Ltd.

1,057

46,291

Pidilite

Industries

Ltd.

2,030

74,182

Polycab

India

Ltd.

551

37,421

Power

Finance

Corp.

Ltd.

18,276

96,718

Power

Grid

Corp.

of

India

Ltd.

60,589

219,195

Procter

&

Gamble

Hygiene

&

Health

Care

Ltd.

121

23,450

Punjab

National

Bank

27,009

45,659

Rail

Vikas

Nigam

Ltd.

7,232

24,824

Rec

Ltd.

15,801

96,043

Reliance

Industries

Ltd.

44,279

1,557,052

Samvardhana

Motherson

International

Ltd.

26,473

41,628

SBI

Cards

&

Payment

Services

Ltd.

3,105

27,103

SBI

Life

Insurance

Co.

Ltd.

(b)

6,156

105,990

Schaeffler

India

Ltd.

494

21,846

Shree

Cement

Ltd.

111

32,520

Shriram

Finance

Ltd.

3,062

93,644

Siemens

Ltd.

1,211

84,787

Solar

Industries

India

Ltd.

295

31,708

Sona

BLW

Precision

Forgings

Ltd.

(b)

3,539

26,525

SRF

Ltd.

1,849

58,084

State

Bank

of

India

23,812

235,805

Steel

Authority

of

India

Ltd.

19,131

37,649

Sun

Pharmaceutical

Industries

Ltd.

14,199

255,624

Supreme

Industries

Ltd.

745

45,199

Suzlon

Energy

Ltd.

(a)

127,471

63,555

Tata

Communications

Ltd.

1,451

30,083

Tata

Consultancy

Services

Ltd.

12,993

594,966

Tata

Consumer

Products

Ltd.

7,995

106,204

56

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

India

–

19.3%

(continued)

Tata

Elxsi

Ltd.

444

37,526

Tata

Motors

Ltd.

23,568

284,699

Tata

Motors

Ltd.,

Class

A

5,911

48,334

Tata

Power

Co.

Ltd.

(The)

22,002

118,467

Tata

Steel

Ltd.

104,019

205,704

Tech

Mahindra

Ltd.

8,159

123,554

Thermax

Ltd.

439

24,569

Titan

Co.

Ltd.

5,024

216,122

Torrent

Pharmaceuticals

Ltd.

1,112

35,219

Trent

Ltd.

2,298

121,457

Tube

Investments

of

India

Ltd.

1,282

57,505

TVS

Motor

Co.

Ltd.

2,788

68,834

UltraTech

Cement

Ltd.

1,539

183,933

Union

Bank

of

India

Ltd.

18,535

34,255

United

Breweries

Ltd.

691

16,877

United

Spirits

Ltd.

3,916

55,241

UPL

Ltd.

7,079

43,028

Varun

Beverages

Ltd.

6,200

109,935

Vedant

Fashions

Ltd.

390

4,457

Vedanta

Ltd.

12,693

60,524

Vodafone

Idea

Ltd.

(a)

104,194

16,484

Voltas

Ltd.

2,956

52,248

Wipro

Ltd.

18,160

100,642

Yes

Bank

Ltd.

(a)

162,543

50,943

Zomato

Ltd.

(a)

50,163

116,124

Zydus

Lifesciences

Ltd.

3,135

35,828

18,955,380

Indonesia

–

1.8%

Adaro

Energy

Indonesia

Tbk

PT

134,700

22,450

Adaro

Minerals

Indonesia

Tbk

PT

(a)

89,900

7,436

Amman

Mineral

Internasional

PT

(a)

176,100

105,054

Aneka

Tambang

Tbk

118,400

11,942

Astra

International

Tbk

PT

262,900

83,268

Bank

Central

Asia

Tbk

PT

670,000

403,813

Bank

Mandiri

(Persero)

Tbk

PT

492,200

208,867

Bank

Negara

Indonesia

(Persero)

Tbk

PT

197,300

63,704

Bank

Rakyat

Indonesia

(Persero)

Tbk

PT

925,900

281,301

Barito

Pacific

Tbk

PT

365,348

22,919

Chandra

Asri

Petrochemical

Tbk

PT

96,000

44,723

Charoen

Pokphand

Indonesia

Tbk

PT

104,200

31,721

Dayamitra

Telekomunikasi

PT

300,200

10,524

Elang

Mahkota

Teknologi

Tbk

PT

228,900

5,434

Goto

Gojek

Tokopedia

Tbk

PT,

Class

A

(a)

9,627,600

37,303

Gudang

Garam

Tbk

PT

6,900

7,734

Indah

Kiat

Pulp

&

Paper

Tbk

PT

34,600

19,949

Indocement

Tunggal

Prakarsa

Tbk

PT

22,700

10,820

Indofood

CBP

Sukses

Makmur

Tbk

PT

22,500

15,048

Indofood

Sukses

Makmur

Tbk

PT

30,900

11,877

Indosat

Tbk

PT

16,600

11,230

Kalbe

Farma

Tbk

PT

189,000

16,912

Mayora

Indah

Tbk

PT

42,700

6,303

Merdeka

Battery

Materials

Tbk

PT

(a)

152,600

5,162

Merdeka

Copper

Gold

Tbk

PT

(a)

168,800

27,303

Pantai

Indah

Kapuk

Dua

Tbk

PT

(a)

20,100

6,094

Sarana

Menara

Nusantara

Tbk

PT

261,400

12,941

Semen

Indonesia

Persero

Tbk

PT

46,500

13,355

Sumber

Alfaria

Trijaya

Tbk

PT

238,600

42,995

Telekomunikasi

Indonesia

(Persero)

Tbk

PT

604,800

117,910

Tower

Bersama

Infrastructure

Tbk

PT

23,900

2,903

Trimegah

Bangun

Persada

Tbk

PT

136,200

8,125

Unilever

Indonesia

Tbk

PT

83,300

13,422

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Indonesia

–

1.8%

(continued)

United

Tractors

Tbk

PT

17,800

27,176

Vale

Indonesia

Tbk

PT

12,500

3,267

1,720,985

Ireland

–

1.1%

PDD

Holdings,

Inc.,

ADR

(a)

8,425

1,054,641

Kuwait

–

0.8%

Agility

Public

Warehousing

Co.

KSCP

18,003

18,471

Boubyan

Bank

KSCP

12,524

23,950

Gulf

Bank

KSCP

34,404

28,819

Kuwait

Finance

House

KSCP

145,715

340,633

Mabanee

Co.

KPSC

10,410

26,633

Mobile

Telecommunications

Co.

KSCP

25,761

40,816

National

Bank

of

Kuwait

SAKP

100,664

282,709

762,031

Luxembourg

–

0.0%

Reinet

Investments

SCA

1,827

42,904

Malaysia

–

1.3%

Ammb

Holdings

BHD

27,200

23,937

Axiata

Group

BHD

44,000

26,091

Celcomdigi

BHD

37,000

32,174

CIMB

Group

Holdings

BHD

85,629

118,598

Dialog

Group

BHD

52,000

26,259

Gamuda

BHD

25,541

28,417

Genting

BHD

30,300

28,697

Genting

Malaysia

BHD

41,200

22,791

Hong

Leong

Bank

BHD

5,600

22,646

IHH

Healthcare

BHD

28,100

37,270

Inari

Amertron

BHD

39,400

25,510

IOI

Corp.

BHD

33,900

28,910

Kuala

Lumpur

Kepong

BHD

6,000

29,092

Malayan

Banking

BHD

62,199

126,809

Malaysia

Airports

Holdings

BHD

12,400

25,982

Maxis

BHD

27,100

20,840

MISC

BHD

16,300

27,187

Mr

DIY

Group

M

BHD

(b)

25,450

8,319

Nestle

Malaysia

BHD

700

18,657

Petronas

Chemicals

Group

BHD

25,000

35,516

Petronas

Dagangan

BHD

3,600

16,369

Petronas

Gas

BHD

9,000

33,944

PPB

Group

BHD

7,700

25,395

Press

Metal

Aluminium

Holdings

BHD

44,000

49,509

Public

Bank

BHD

156,800

135,362

Ql

Resources

BHD

16,300

21,927

RHB

Bank

BHD

32,417

37,358

Sime

Darby

BHD

40,300

23,644

Sime

Darby

Plantation

BHD

27,100

25,382

Telekom

Malaysia

BHD

34,200

44,358

Tenaga

Nasional

BHD

44,900

112,520

Time

Dotcom

BHD

11,700

12,650

YTL

Corp.

BHD

38,300

24,878

YTL

Power

International

BHD

24,900

24,000

1,300,998

Mexico

–

2.7%

ALFA

SAB

de

CV,

Class

A

64,331

47,346

America

Movil

SAB

de

CV,

Series

B

423,485

405,627

Arca

Continental

SAB

de

CV

6,207

60,713

Becle

SAB

de

CV

23,291

47,584

Cemex

SAB

de

CV

(a)

196,262

156,079

57

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Mexico

–

2.7%

(continued)

Coca-Cola

Femsa

SAB

de

CV

6,733

67,016

El

Puerto

de

Liverpool

SAB

de

CV,

Series

C1

2,086

16,769

Fibra

Uno

Administracion

SA

de

CV

(d)

38,587

55,530

Fomento

Economico

Mexicano

SAB

de

CV

28,170

333,110

Gruma

SAB

de

CV,

Class

B

2,306

45,476

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV,

Class

B

4,603

84,547

Grupo

Aeroportuario

del

Sureste

SAB

de

CV,

Class

B

2,147

74,333

Grupo

Bimbo

SAB

de

CV,

Series

A

17,625

74,085

Grupo

Carso

SAB

de

CV,

Series

A1

6,511

51,206

Grupo

Comercial

Chedraui

SA

de

CV

5,705

42,235

Grupo

Elektra

SAB

de

CV

696

45,138

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

36,674

365,739

Grupo

Financiero

Inbursa

SAB

de

CV,

Class

O

(a)

24,837

68,818

Grupo

Mexico

SAB

de

CV,

Series

B

41,661

258,839

Industrias

Penoles

SAB

de

CV

(a)

2,488

35,786

Kimberly-Clark

de

Mexico

SAB

de

CV,

Class

A

22,807

47,867

Orbia

Advance

Corp.

SAB

de

CV

13,416

22,078

Wal-Mart

de

Mexico

SAB

de

CV

64,964

243,446

2,649,367

Philippines

–

0.6%

ACEN

Corp.

128,900

9,260

Ayala

Corp.

2,960

31,512

Ayala

Land,

Inc.

76,800

38,222

Bank

of

The

Philippine

Islands

28,422

62,730

BDO

Unibank,

Inc.

28,014

71,867

International

Container

Terminal

Services,

Inc.

10,290

58,959

JG

Summit

Holdings,

Inc.

29,822

17,423

Jollibee

Foods

Corp.

7,410

30,195

Manila

Electric

Co.

4,440

28,361

Metropolitan

Bank

&

Trust

Co.

26,710

32,365

PLDT,

Inc.

1,045

24,240

SM

Investments

Corp.

6,195

101,876

SM

Prime

Holdings,

Inc.

138,900

67,204

Universal

Robina

Corp.

13,120

23,438

597,652

Qatar

–

0.8%

Commercial

Bank

PSQC

(The)

43,554

49,679

Dukhan

Bank

22,696

24,005

Industries

Qatar

QSC

26,088

87,772

Masraf

Al

Rayan

QSC

81,546

56,260

Mesaieed

Petrochemical

Holding

Co.

44,348

23,374

Ooredoo

QPSC

10,990

30,154

Qatar

Electricity

&

Water

Co.

QSC

6,256

26,203

Qatar

Fuel

QSC

7,920

31,454

Qatar

Gas

Transport

Co.

Ltd.

45,579

50,060

Qatar

International

Islamic

Bank

QSC

13,795

38,115

Qatar

Islamic

Bank

SAQ

21,509

108,106

Qatar

National

Bank

QPSC

56,998

217,128

742,310

Russia

–

0.0%

Alrosa

PJSC

(e)

11,270

0

Gazprom

PJSC

(a),(e)

67,050

0

GMK

Norilskiy

Nickel

PAO

(e)

34,100

0

LUKOIL

PJSC

(e)

2,071

0

Magnitogorsk

Iron

&

Steel

Works

PJSC

(a),(e)

5,210

0

Novatek

PJSC

(e)

5,535

0

Novolipetsk

Steel

PJSC

(a),(e)

6,530

0

Phosagro

PJSC

(e)

229

0

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Russia

–

0.0%

(continued)

PIK-Spetsializirovannyy

Zastroyshchik

PAO

(a),(e)

401

0

Polyus

PJSC

(a),(e)

181

0

Rosneft

Oil

Co.

PJSC

(e)

13,131

0

Sberbank

of

Russia

PJSC

(e)

59,440

0

Severstal

PAO

(a),(e)

859

0

Surgutneftegas

PJSC

(e)

45,300

0

Tatneft

PJSC

(e)

7,934

0

United

Co.

RUSAL

International

PJSC,

Class

A

(a),(e)

10,710

0

VTB

Bank

PJSC

(a),(e)

21,230,000

0

0

Saudi

Arabia

–

4.0%

ACWA

Power

Co.

1,777

189,516

Ades

Holding

Co.

(a)

4,984

26,551

Advanced

Petrochemical

Co.

2,005

22,827

Al

Rajhi

Bank

25,261

538,142

Alinma

Bank

15,953

141,853

Almarai

Co.

JSC

3,369

51,021

Arab

National

Bank

8,667

71,405

Arabian

Internet

&

Communications

Services

Co.

339

31,454

Bank

Albilad

7,698

73,273

Banque

Saudi

Fransi

7,633

74,588

Bupa

Arabia

For

Cooperative

Insurance

Co.

967

62,188

Company

For

Cooperative

Insurance

(The)

955

37,939

Dr.

Sulaiman

Al

Habib

Medical

Services

Group

Co.

1,124

93,082

Elm

Co.

349

85,105

Etihad

Etisalat

Co.

4,894

67,853

Jarir

Marketing

Co.

8,089

29,202

Mouwasat

Medical

Services

Co.

1,259

45,115

Nahdi

Medical

Co.

554

20,413

Rabigh

Refining

&

Petrochemical

Co.

(a)

5,999

12,060

Riyad

Bank

18,978

140,162

SABIC

Agri-Nutrients

Co.

2,808

86,697

Sahara

International

Petrochemical

Co.

3,715

33,974

Saudi

Arabian

Mining

Co.

(a)

15,511

209,262

Saudi

Arabian

Oil

Co.

(b)

57,309

459,927

Saudi

Aramco

Base

Oil

Co.

676

27,324

Saudi

Awwal

Bank

13,011

141,537

Saudi

Basic

Industries

Corp.

11,624

261,886

Saudi

Electricity

Co.

9,217

45,758

Saudi

Industrial

Investment

Group

4,968

30,757

Saudi

Kayan

Petrochemical

Co.

(a)

10,007

25,000

Saudi

National

Bank

(The)

38,357

384,531

Saudi

Tadawul

Group

Holding

Co.

632

44,620

Saudi

Telecom

Co.

23,731

238,221

Savola

Group

(The)

3,417

46,008

Yanbu

National

Petrochemical

Co.

4,019

41,523

3,890,774

Singapore

–

0.0%

BOC

Aviation

Ltd.

(b)

3,000

23,973

South

Africa

–

2.4%

ABSA

Group

Ltd.

9,082

70,137

African

Rainbow

Minerals

Ltd.

1,747

18,201

Anglo

American

Platinum

Ltd.

471

16,547

Aspen

Pharmacare

Holdings

Ltd.

4,836

57,581

Bid

Corp.

Ltd.

4,423

101,344

Bidvest

Group

Ltd.

(The)

4,579

59,862

Capitec

Bank

Holdings

Ltd.

1,268

156,709

58

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

South

Africa

–

2.4%

(continued)

Clicks

Group

Ltd.

3,285

50,844

Discovery

Ltd.

7,494

47,839

Exxaro

Resources

Ltd.

3,177

30,531

FirstRand

Ltd.

65,482

226,528

Gold

Fields

Ltd.

11,571

190,867

Impala

Platinum

Holdings

Ltd.

8,892

40,004

Investec

Ltd.

2,915

18,565

Kumba

Iron

Ore

Ltd.

719

17,694

MTN

Group

Ltd.

20,662

99,363

Multichoice

Group

(a)

4,947

31,632

Naspers

Ltd.,

Class

N

2,343

448,727

Nedbank

Group

Ltd.

4,919

59,739

Northam

Platinum

Holdings

Ltd.

4,712

31,303

Old

Mutual

Ltd.

68,784

40,243

Outsurance

Group

Ltd.

11,922

25,679

Pepkor

Holdings

Ltd.

(b)

23,647

22,422

Remgro

Ltd.

7,081

46,206

Sanlam

Ltd.

23,017

83,144

Sasol

Ltd.

7,343

51,951

Shoprite

Holdings

Ltd.

6,224

83,188

Sibanye

Stillwater

Ltd.

32,951

38,084

Standard

Bank

Group

Ltd.

17,407

163,658

Vodacom

Group

Ltd.

6,370

30,589

Woolworths

Holdings

Ltd.

12,004

38,334

2,397,515

South

Korea

–

11.6%

Alteogen,

Inc.

(a)

474

60,669

Amorepacific

Corp.

361

44,273

Amorepacific

Group

383

9,325

BGF

Retail

Co.

Ltd.

106

10,055

BNK

Financial

Group,

Inc.

5,044

30,619

Celltrion

Pharm,

Inc.

(a)

259

18,009

Celltrion,

Inc.

1,954

267,206

Cheil

Worldwide,

Inc.

972

13,306

Chunbo

Co.

Ltd.

(a)

96

5,397

CJ

Cheiljedang

Corp.

106

25,846

CJ

Corp.

172

15,892

CJ

ENM

Co.

Ltd.

(a)

166

9,128

CJ

Logistics

Corp.

139

12,330

Cosmo

AM&T

Co.

Ltd.

(a)

299

32,840

Coway

Co.

Ltd.

769

30,991

CS

Wind

Corp.

343

13,029

Daewoo

Engineering

&

Construction

Co.

Ltd.

(a)

3,535

9,809

DB

Hitek

Co.

Ltd.

485

14,528

DB

Insurance

Co.

Ltd.

566

39,846

DL

E&C

Co.

Ltd.

388

10,499

Doosan

Bobcat,

Inc.

675

25,494

Doosan

Co.

Ltd.

115

12,672

Doosan

Enerbility

Co.

Ltd.

(a)

4,935

59,987

Doosan

Fuel

Cell

Co.

Ltd.

(a)

795

11,464

Doosan

Robotics,

Inc.

(a)

263

13,701

Ecopro

BM

Co.

Ltd.

(a)

605

104,401

Ecopro

Co.

Ltd.

(a)

1,265

97,202

Ecopro

Materials

Co.

Ltd.

(a)

325

27,607

E-Mart,

Inc.

262

12,075

F&F

Co.

Ltd.

218

10,394

Fila

Holdings

Corp.

601

17,829

Green

Cross

Corp.

134

11,082

GS

Engineering

&

Construction

Corp.

(a)

1,015

12,103

GS

Holdings

Corp.

583

18,940

GS

Retail

Co.

Ltd.

552

7,960

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

South

Korea

–

11.6%

(continued)

Hana

Financial

Group,

Inc.

3,428

145,593

Hanjin

Kal

Corp.

339

14,668

Hankook

Tire

&

Technology

Co.

Ltd.

901

38,528

Hanmi

Pharm

Co.

Ltd.

87

19,923

Hanmi

Science

Co.

Ltd.

304

7,478

Hanmi

Semiconductor

Co.

Ltd.

554

54,113

Hanon

Systems

2,335

9,427

Hansol

Chemical

Co.

Ltd.

147

20,613

Hanssem

Co.

Ltd.

130

5,324

Hanwha

Aerospace

Co.

Ltd.

423

64,731

Hanwha

Corp.

541

10,706

Hanwha

Life

Insurance

Co.

Ltd.

3,938

8,405

Hanwha

Ocean

Co.

Ltd.

(a)

1,760

40,813

Hanwha

Solutions

Corp.

1,184

21,931

Hanwha

Systems

Co.

Ltd.

747

10,637

HD

Hyundai

Co.

Ltd.

567

27,651

HD

Hyundai

Heavy

Industries

Co.

Ltd.

(a)

240

23,911

HD

Hyundai

Infracore

Co.

Ltd.

1,723

10,372

HD

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

(a)

586

55,755

Hite

Jinro

Co.

Ltd.

433

6,595

HL

Mando

Co.

Ltd.

493

14,054

HLB,

Inc.

(a)

1,546

124,387

HMM

Co.

Ltd.

3,639

41,732

Hotel

Shilla

Co.

Ltd.

412

17,767

Hugel,

Inc.

(a)

86

13,160

HYBE

Co.

Ltd.

227

33,177

Hyosung

Advanced

Materials

Corp.

36

9,572

Hyosung

TNC

Corp.

32

8,520

Hyundai

Autoever

Corp.

99

11,031

Hyundai

Department

Store

Co.

Ltd.

185

7,041

Hyundai

Elevator

Co.

Ltd.

280

8,205

Hyundai

Engineering

&

Construction

Co.

Ltd.

1,035

26,547

Hyundai

Glovis

Co.

Ltd.

202

26,600

Hyundai

Marine

&

Fire

Insurance

Co.

Ltd.

780

17,664

Hyundai

Mipo

Dockyard

Co.

Ltd.

(a)

308

16,736

Hyundai

Mobis

Co.

Ltd.

821

135,734

Hyundai

Motor

Co.

1,729

314,000

Hyundai

Rotem

Co.

Ltd.

969

26,151

Hyundai

Steel

Co.

1,165

27,268

Industrial

Bank

of

Korea

3,961

39,980

JYP

Entertainment

Corp.

362

17,470

Kakao

Corp.

3,930

138,194

Kakao

Games

Corp.

(a)

909

14,338

KakaoBank

Corp.

2,740

49,761

KakaoPay

Corp.

(a)

390

9,961

Kangwon

Land,

Inc.

947

10,518

KB

Financial

Group,

Inc.

4,766

260,697

KCC

Corp.

59

10,758

Kepco

Engineering

&

Construction

Co.,

Inc.

195

9,270

Kepco

Plant

Service

&

Engineering

Co.

Ltd.

294

7,498

KIA

Corp.

3,252

277,647

Kiwoom

Securities

Co.

Ltd.

203

19,447

Korea

Aerospace

Industries

Ltd.

886

33,207

Korea

Electric

Power

Corp.

(a)

2,714

41,532

Korea

Gas

Corp.

(a)

420

8,387

Korea

Investment

Holdings

Co.

Ltd.

574

27,992

Korea

Zinc

Co.

Ltd.

117

39,237

Korean

Air

Lines

Co.

Ltd.

1,823

27,633

Krafton,

Inc.

(a)

368

63,770

KT

Corp.

751

18,801

KT&G

Corp.

1,143

73,934

59

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

South

Korea

–

11.6%

(continued)

Kum

Yang

Co.

Ltd.

(a)

386

26,281

Kumho

Petrochemical

Co.

Ltd.

246

24,598

L&F

Co.

Ltd.

(a)

306

36,288

Leeno

Industrial,

Inc.

142

25,788

LG

Chem

Ltd.

624

181,723

LG

Corp.

1,128

64,802

LG

Display

Co.

Ltd.

(a)

4,213

32,129

LG

Electronics,

Inc.

1,383

92,960

LG

Energy

Solution

(a)

516

145,231

LG

H&H

Co.

Ltd.

126

38,290

LG

Innotek

Co.

Ltd.

142

22,809

LG

Uplus

Corp.

551

3,927

Lotte

Chemical

Corp.

248

19,290

Lotte

Corp.

392

7,856

Lotte

Energy

Materials

Corp.

386

12,707

Lotte

Shopping

Co.

Ltd.

153

7,716

LS

Corp.

228

22,782

Meritz

Financial

Group,

Inc.

1,376

79,050

Mirae

Asset

Securities

Co.

Ltd.

3,228

17,727

NAVER

Corp.

1,779

237,354

NCSoft

Corp.

189

24,081

Netmarble

Corp.

(a)(b)

361

14,601

NH

Investment

&

Securities

Co.

Ltd.

545

4,925

Nongshim

Co.

Ltd.

40

11,519

OCI

Holdings

Co.

Ltd.

168

11,535

Orion

Corp.

291

19,560

Pan

Ocean

Co.

Ltd.

3,426

10,188

Pearl

Abyss

Corp.

(a)

410

9,508

POSCO

DX

Co.

Ltd.

669

19,725

POSCO

Future

M

Co.

Ltd.

373

76,511

POSCO

Holdings,

Inc.

935

273,985

POSCO

International

Corp.

671

22,478

S-1

Corp.

257

11,120

Samsung

Biologics

Co.

Ltd.

(a)(b)

225

127,143

Samsung

C&T

Corp.

964

104,693

Samsung

Card

Co.

Ltd.

209

5,913

Samsung

Electro-Mechanics

Co.

Ltd.

691

77,944

Samsung

Electronics

Co.

Ltd.

63,232

3,545,677

Samsung

Engineering

Co.

Ltd.

(a)

2,051

39,251

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

418

93,756

Samsung

Heavy

Industries

Co.

Ltd.

(a)

8,506

58,159

Samsung

Life

Insurance

Co.

Ltd.

989

62,613

Samsung

SDI

Co.

Ltd.

681

213,844

Samsung

SDS

Co.

Ltd.

506

58,614

Samsung

Securities

Co.

Ltd.

815

22,467

SD

Biosensor,

Inc.

(a)

742

5,659

Shinhan

Financial

Group

Co.

Ltd.

5,718

193,000

Shinsegae,

Inc.

101

12,153

SK

Biopharmaceuticals

Co.

Ltd.

(a)

394

24,972

SK

Bioscience

Co.

Ltd.

(a)

391

16,578

SK

Chemicals

Co.

Ltd.

234

10,243

SK

Hynix,

Inc.

6,973

878,878

SK

IE

Technology

Co.

Ltd.

(a)(b)

379

16,206

SK

Innovation

Co.

Ltd.

(a)

724

58,199

SK

Networks

Co.

Ltd.

1,395

5,097

SK

Square

Co.

Ltd.

(a)

1,285

71,125

SK

Telecom

Co.

Ltd.

1,378

51,148

SK,

Inc.

380

45,641

SKC

Co.

Ltd.

(a)

268

21,407

S-Oil

Corp.

471

24,775

Soulbrain

Co.

Ltd.

61

13,329

Studio

Dragon

Corp.

(a)

198

6,110

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

South

Korea

–

11.6%

(continued)

Wemade

Co.

Ltd.

(a)

254

8,693

Wonik

IPS

Co.

Ltd.

(a)

515

13,955

Woori

Financial

Group,

Inc.

8,635

88,905

Yuhan

Corp.

736

38,555

11,416,806

Taiwan

–

17.3%

Accton

Technology

Corp.

7,000

99,211

Acer,

Inc.

38,000

52,690

Advantech

Co.

Ltd.

5,928

69,180

Airtac

International

Group

2,046

72,887

Alchip

Technologies

Ltd.

1,000

95,817

ASE

Technology

Holding

Co.

Ltd.

50,000

227,259

Asia

Cement

Corp.

30,000

40,262

Asia

Vital

Components

Co.

Ltd.

4,000

80,339

Aspeed

Technology,

Inc.

1,000

94,742

Asustek

Computer,

Inc.

9,000

118,850

AUO

Corp.

68,600

38,554

Catcher

Technology

Co.

Ltd.

9,000

60,254

Cathay

Financial

Holding

Co.

Ltd.

148,836

230,828

Chailease

Holding

Co.

Ltd.

18,506

98,037

Chang

Hwa

Commercial

Bank

Ltd.

51,264

28,732

Cheng

Shin

Rubber

Industry

Co.

Ltd.

28,000

40,544

Chicony

Electronics

Co.

Ltd.

8,000

49,751

China

Airlines

Ltd.

38,000

24,449

China

Development

Financial

Holding

Corp.

(a)

195,000

81,744

China

Steel

Corp.

135,000

103,027

Chroma

ATE,

Inc.

5,000

40,922

Chunghwa

Telecom

Co.

Ltd.

50,000

190,406

Compal

Electronics,

Inc.

51,000

56,071

CTBC

Financial

Holding

Co.

Ltd.

245,000

256,572

Delta

Electronics,

Inc.

25,000

246,069

E

Ink

Holdings,

Inc.

12,000

77,391

E.Sun

Financial

Holding

Co.

Ltd.

193,714

163,005

Eclat

Textile

Co.

Ltd.

3,000

47,448

Elite

Material

Co.

Ltd.

4,000

50,611

ememory

Technology,

Inc.

1,000

68,331

Eva

Airways

Corp.

37,000

40,395

Evergreen

Marine

Corp.

Taiwan

Ltd.

12,600

73,328

Far

Eastern

New

Century

Corp.

31,000

30,941

Far

EasTone

Telecommunications

Co.

Ltd.

22,000

54,591

Feng

TAY

Enterprise

Co.

Ltd.

8,512

42,348

First

Financial

Holding

Co.

Ltd.

126,478

106,233

Formosa

Chemicals

&

Fibre

Corp.

55,000

93,744

Formosa

Petrochemical

Corp.

18,000

39,912

Formosa

Plastics

Corp.

66,000

138,843

Formosa

Sumco

Technology

Corp.

2,000

10,841

Foxconn

Technology

Co.

Ltd.

14,000

26,485

Fubon

Financial

Holding

Co.

Ltd.

110,935

235,416

Giant

Manufacturing

Co.

Ltd.

5,000

33,551

Gigabyte

Technology

Co.

Ltd.

7,000

64,277

Global

Unichip

Corp.

1,000

42,074

Globalwafers

Co.

Ltd.

3,000

48,093

Gold

Circuit

Electronics

Ltd.

4,000

24,200

Highwealth

Construction

Corp.

28,000

38,093

Hiwin

Technologies

Corp.

4,000

28,438

Hon

Hai

Precision

Industry

Co.

Ltd.

156,000

747,374

Hotai

Motor

Co.

Ltd.

4,120

78,447

Hua

Nan

Financial

Holdings

Co.

Ltd.

123,139

89,437

Innolux

Corp.

111,000

48,577

Inventec

Corp.

41,000

66,860

Largan

Precision

Co.

Ltd.

1,152

77,302

60

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Taiwan

–

17.3%

(continued)

Lite-On

Technology

Corp.

30,000

92,132

Lotes

Co.

Ltd.

1,000

44,223

Macronix

International

Co.

Ltd.

26,000

22,038

MediaTek,

Inc.

19,000

578,834

Mega

Financial

Holding

Co.

Ltd.

152,899

187,825

Merida

Industry

Co.

Ltd.

3,000

21,651

Micro-Star

International

Co.

Ltd.

9,000

44,085

Momo.com,

Inc.

1,100

14,932

Nan

Ya

Plastics

Corp.

69,000

120,149

Nan

Ya

Printed

Circuit

Board

Corp.

3,000

17,229

Nanya

Technology

Corp.

16,000

32,480

Nien

Made

Enterprise

Co.

Ltd.

3,000

35,102

Novatek

Microelectronics

Corp.

8,000

151,833

Oneness

Biotech

Co.

Ltd.

4,000

19,471

Pegatron

Corp.

26,000

78,011

PharmaEssentia

Corp.

(a)

3,000

27,041

Phison

Electronics

Corp.

2,000

43,179

Polaris

Group

(a)

4,000

8,366

Pou

Chen

Corp.

30,000

33,306

Powerchip

Semiconductor

Manufacturing

Corp.

(a)

44,000

30,876

Powertech

Technology,

Inc.

7,000

37,513

President

Chain

Store

Corp.

6,000

50,488

Quanta

Computer,

Inc.

31,000

247,528

Realtek

Semiconductor

Corp.

6,000

95,449

Ruentex

Development

Co.

Ltd.

26,000

30,701

Ruentex

Industries

Ltd.

10,000

18,488

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

54,686

78,010

Shin

Kong

Financial

Holding

Co.

Ltd.

(a)

182,000

48,236

Sino-American

Silicon

Products,

Inc.

7,000

42,028

SinoPac

Financial

Holdings

Co.

Ltd.

141,094

95,111

Synnex

Technology

International

Corp.

15,000

36,761

TA

Chen

Stainless

Pipe

27,000

30,514

Taishin

Financial

Holding

Co.

Ltd.

180,216

99,345

Taiwan

Business

Bank

81,000

42,164

Taiwan

Cement

Corp.

95,117

93,621

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

131,974

106,189

Taiwan

Fertilizer

Co.

Ltd.

10,000

20,085

Taiwan

High

Speed

Rail

Corp.

26,000

23,874

Taiwan

Mobile

Co.

Ltd.

22,000

70,266

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

310,000

7,521,037

Tatung

Co.

Ltd.

(a)

27,000

54,229

TECO

Electric

&

Machinery

Co.

Ltd.

23,000

39,273

Tripod

Technology

Corp.

6,000

36,392

Unimicron

Technology

Corp.

17,000

95,019

Uni-President

Enterprises

Corp.

62,000

145,661

United

Microelectronics

Corp.

149,000

231,997

Vanguard

International

Semiconductor

Corp.

13,000

34,335

Visera

Technologies

Co.

Ltd.

2,000

16,737

Voltronic

Power

Technology

Corp.

1,000

47,602

Walsin

Lihwa

Corp.

32,000

36,263

Walsin

Technology

Corp.

5,000

17,121

WAN

HAI

Lines

Ltd.

18,590

28,945

Win

Semiconductors

Corp.

5,000

22,419

Winbond

Electronics

Corp.

40,000

31,939

Wistron

Corp.

35,000

121,998

Wiwynn

Corp.

1,049

76,029

WPG

Holdings

Ltd.

19,000

51,523

WT

Microelectronics

Co.

Ltd.

6,593

30,371

Yageo

Corp.

4,591

88,120

Yang

Ming

Marine

Transport

Corp.

16,000

25,650

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Taiwan

–

17.3%

(continued)

Yuanta

Financial

Holding

Co.

Ltd.

146,529

137,925

Yulon

Finance

Corp.

5,000

22,726

Yulon

Motor

Co.

Ltd.

8,000

16,879

Zhen

Ding

Technology

Holding

Ltd.

9,000

32,062

17,015,169

Thailand

–

1.6%

Advanced

Info

Service

PCL,

NVDR

14,500

77,273

Airports

of

Thailand

PCL,

NVDR

53,300

93,843

Asset

World

Corp.

PCL,

NVDR

57,300

6,803

B

Grimm

Power

PCL,

NVDR

17,300

12,020

Bangkok

Bank

PCL,

NVDR

13,400

49,536

Bangkok

Dusit

Medical

Services

PCL,

NVDR

88,100

68,940

Bangkok

Expressway

&

Metro

PCL,

NVDR

89,600

20,067

Banpu

PCL,

NVDR

57,700

8,641

Berli

Jucker

PCL,

NVDR

5,800

3,834

BTS

Group

Holdings

PCL,

NVDR

105,500

18,077

Bumrungrad

Hospital

PCL,

NVDR

6,600

43,632

Carabao

Group

PCL,

NVDR

4,900

9,057

Central

Pattana

PCL,

NVDR

23,200

39,752

Central

Plaza

Hotel

PCL,

NVDR

(a)

8,400

10,200

Central

Retail

Corp.

PCL,

NVDR

37,200

34,630

Charoen

Pokphand

Foods

PCL,

NVDR

40,200

21,478

Com7

PCL,

NVDR

12,600

6,222

CP

ALL

PCL,

NVDR

59,100

91,696

CP

Axtra

PCL,

NVDR

10,300

9,033

Delta

Electronics

Thailand

PCL,

NVDR

6,100

11,522

Electricity

Generating

PCL,

NVDR

4,000

12,142

Energy

Absolute

PCL,

NVDR

17,600

14,603

Global

Power

Synergy

PCL,

NVDR

13,400

17,717

Gulf

Energy

Development

PCL,

NVDR

58,320

63,340

Home

Product

Center

PCL,

NVDR

42,500

11,927

Indorama

Ventures

PCL,

NVDR

29,300

18,896

Intouch

Holdings

PCL,

NVDR

12,700

22,960

IRPC

PCL,

NVDR

229,900

12,221

JMT

Network

Services

PCL,

NVDR

9,200

5,139

Kasikornbank

PCL,

NVDR

19,400

68,313

KCE

Electronics

PCL,

NVDR

8,600

9,108

Krung

Thai

Bank

PCL,

NVDR

60,700

27,516

Krungthai

Card

PCL,

NVDR

14,200

16,476

Land

&

Houses

PCL,

NVDR

82,200

16,524

Minor

International

PCL,

NVDR

47,600

42,385

Muangthai

Capital

PCL,

NVDR

9,400

11,541

Ngern

Tid

Lor

PCL,

NVDR

18,458

10,409

Osotspa

PCL,

NVDR

23,400

13,575

PTT

Exploration

&

Production

PCL,

NVDR

17,500

73,900

PTT

Global

Chemical

PCL,

NVDR

24,500

24,295

PTT

Oil

&

Retail

Business

PCL,

NVDR

44,600

22,505

PTT

PCL,

NVDR

126,400

115,111

Ratch

Group

PCL,

NVDR

9,500

7,370

SCB

X

PCL,

NVDR

14,900

42,818

SCG

Packaging

PCL,

NVDR

20,700

18,153

Siam

Cement

PCL

(The),

NVDR

3,700

24,860

Siam

Global

House

PCL,

NVDR

24,960

10,911

Srisawad

Corp.

PCL,

NVDR

11,600

12,833

Thai

Beverage

PCL

114,100

41,415

Thai

Life

Insurance

PCL,

NVDR

4,600

1,142

Thai

Oil

PCL,

NVDR

16,500

24,265

Thai

Union

Group

PCL,

NVDR

35,000

14,072

Tisco

Financial

Group

PCL,

NVDR

7,600

19,943

TMBThanachart

Bank

PCL,

NVDR

659,700

32,220

Toa

Paint

Thailand

PCL,

NVDR

10,200

6,949

61

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Thailand

–

1.6%

(continued)

True

Corp.

PCL,

NVDR

(a)

137,500

28,568

WHA

Corp.

PCL,

NVDR

87,400

11,792

1,564,170

Turkey

–

1.2%

AG

Anadolu

Grubu

Holding

AS,

Class

A

1,228

12,317

Ahlatci

Dogal

GAZ

Dagitim

Enerji

VE

Yatirim

AS

(a)

10,822

4,432

Akbank

T.A.S.

37,897

69,587

Akcansa

Cimento

AS

756

3,526

Aksa

Akrilik

Kimya

Sanayii

AS

1,749

6,288

Aksa

Enerji

Uretim

AS,

Class

B

4,610

5,476

Alarko

Holding

AS

2,348

8,456

ALFA

Solar

Enerji

Sanayi

ve

Ticaret

AS

1,100

3,051

Anadolu

Anonim

Turk

Sigorta

Sirketi

(a)

2,387

6,635

Anadolu

EFES

Biracilik

ve

Malt

Sanayii

AS

2,702

15,231

Arcelik

AS

1,669

8,918

Aselsan

Elektronik

Sanayi

ve

Ticaret

AS

17,240

32,348

Astor

Transformator

Enerji

Turizm

Insaat

ve

Petrol

Sanayi

Ticaret

AS,

Class

B

2,766

8,014

BIM

Birlesik

Magazalar

AS

5,701

68,145

Borusan

Birlesik

Boru

Fabrikalari

Sanayi

ve

Ticaret

AS

(a)

370

6,874

Borusan

Yatirim

ve

Pazarlama

AS

64

6,390

Can2

Termik

AS

(a)

6,298

3,556

Cimsa

Cimento

Sanayi

ve

Ticaret

AS

6,506

6,418

Coca-Cola

Icecek

AS

1,035

23,176

CW

Enerji

Muhendislik

Ticaret

ve

Sanayi

AS

(a)

434

3,844

Dogan

Sirketler

Grubu

Holding

AS

13,660

6,156

Dogus

Otomotiv

Servis

ve

Ticaret

AS

1,107

9,702

EGE

Endustri

ve

Ticaret

AS

16

8,648

Emlak

Konut

Gayrimenkul

Yatirim

Ortakligi

AS

(a)(d)

32,284

9,712

Enerjisa

Enerji

AS

(b)

3,629

7,628

Enka

Insaat

ve

Sanayi

AS

8,249

9,784

Eregli

Demir

ve

Celik

Fabrikalari

TAS

20,315

27,018

Europower

Enerji

ve

Otomasyon

Teknolojileri

Sanayi

Ticaret

AS

(a)

849

3,907

Ford

Otomotiv

Sanayi

AS

976

33,582

Girisim

Elektrik

Taahhut

Ticaret

ve

Sanayi

AS

(a)

1,883

4,132

Gubre

Fabrikalari

TAS

(a)

1,100

5,236

Haci

Omer

Sabanci

Holding

AS

13,941

39,743

Hektas

Ticaret

T.A.S.

(a)

14,575

6,852

Investco

Holding

AS

(a)

475

4,673

Is

Yatirim

Menkul

Degerler

AS

6,010

6,939

Kaleseramik

Canakkale

Kalebodur

Seramik

Sanayi

AS

(a)

1,717

3,187

Kardemir

Karabuk

Demir

Celik

Sanayi

ve

Ticaret

AS,

Class

D

13,851

11,132

Kiler

Holding

AS

(a)

3,058

4,203

KOC

Holding

AS

9,357

65,344

Kontrolmatik

Enerji

VE

Muhendislik

AS

1,143

8,332

Koza

Altin

Isletmeleri

AS

13,167

9,459

Koza

Anadolu

Metal

Madencilik

Isletmeleri

AS

(a)

2,612

4,187

Mavi

Giyim

Sanayi

ve

Ticaret

AS,

Class

B

(b)

4,462

12,748

Mia

Teknoloji

AS

(a)

3,055

5,303

Migros

Ticaret

AS

1,256

17,147

MLP

Saglik

Hizmetleri

AS,

Class

B

(a)(b)

1,093

7,900

Nuh

Cimento

Sanayi

AS

382

3,596

Odas

Elektrik

Uretim

ve

Sanayi

Ticaret

AS

(a)

15,925

4,702

Otokar

Otomotiv

ve

Savunma

Sanayi

AS

492

7,955

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.1%

(continued)

Turkey

–

1.2%

(continued)

Oyak

Cimento

Fabrikalari

AS

(a)

4,132

7,734

Pegasus

Hava

Tasimaciligi

AS

(a)

610

19,481

Petkim

Petrokimya

Holding

AS

(a)

18,485

11,830

Sarkuysan

Elektrolitik

Bakir

Sanayi

ve

Ticaret

AS

6,288

6,568

Sasa

Polyester

Sanayi

AS

(a)

17,878

22,795

Smart

Gunes

Enerjisi

Teknolojileri

Arge

Uretim

Sanayi

ve

Ticaret

AS

(a)

2,171

3,721

Sok

Marketler

Ticaret

AS

3,819

6,877

Tav

Havalimanlari

Holding

AS

(a)

2,780

18,882

Tekfen

Holding

AS

3,681

5,884

Tofas

Turk

Otomobil

Fabrikasi

AS

1,561

13,271

Torunlar

Gayrimenkul

Yatirim

Ortakligi

AS

(d)

3,617

5,032

Turk

Hava

Yollari

AO

(a)

9,327

93,914

Turk

Telekomunikasyon

AS

(a)

7,569

9,440

Turk

Traktor

ve

Ziraat

Makineleri

AS

357

10,139

Turkcell

Iletisim

Hizmetleri

AS

16,408

40,948

Turkiye

Halk

Bankasi

AS

(a)

10,928

5,498

Turkiye

Is

Bankasi

AS,

Class

C

114,084

48,309

Turkiye

Petrol

Rafinerileri

AS

11,707

70,799

Turkiye

Sigorta

AS

3,303

6,759

Turkiye

Sise

ve

CAM

Fabrikalari

AS

20,211

31,462

Ulker

Biskuvi

Sanayi

AS

(a)

2,028

7,159

Vestel

Beyaz

Esya

Sanayi

ve

Ticaret

AS

7,446

5,106

Vestel

Elektronik

Sanayi

ve

Ticaret

AS

(a)

2,689

6,935

Yapi

ve

Kredi

Bankasi

AS

39,206

39,089

Zorlu

Enerji

Elektrik

Uretim

AS

(a)

23,970

4,894

1,154,115

United

Arab

Emirates

–

1.9%

Abu

Dhabi

Commercial

Bank

PJSC

37,174

84,512

Abu

Dhabi

Islamic

Bank

PJSC

19,405

58,961

Abu

Dhabi

National

Energy

Co.

PJSC

39,016

29,637

Abu

Dhabi

National

Oil

Co.

for

Distribution

PJSC

31,857

30,271

ADNOC

Drilling

Co.

PJSC

25,358

26,650

Adnoc

Gas

PLC

98,780

80,683

Agility

Global

PLC

(a)

36,006

1,470

Aldar

Properties

PJSC

51,458

76,496

Alpha

Dhabi

Holding

PJSC

(a)

17,325

66,604

Borouge

PLC

43,562

29,058

Dubai

Electricity

&

Water

Authority

PJSC

120,818

77,302

Dubai

Islamic

Bank

PJSC

34,701

52,530

Emaar

Properties

PJSC

84,505

188,893

Emirates

NBD

Bank

PJSC

33,400

154,592

Emirates

Telecommunications

Group

Co.

PJSC

44,322

205,144

First

Abu

Dhabi

Bank

PJSC

57,729

196,155

International

Holdings

Co.

PJSC

(a)

4,571

497,186

Multiply

Group

PJSC

(a)

48,361

30,284

1,886,428

United

States

–

0.1%

BeiGene

Ltd.

(a)

8,200

99,182

Parade

Technologies

Ltd.

1,000

23,002

122,184

Total

Common

Stocks

(cost

$87,336,198)

96,296,860

Preferred

Stocks

–

2.1%

Brazil

–

1.4%

Banco

Bradesco

SA,

7.95%

69,588

188,366

Braskem

SA,

Class

A,

3.94%

(a)

2,960

12,181

Centrais

Eletricas

Brasileiras

SA,

Class

B,

4.39%

2,438

19,549

Cia

Energetica

de

Minas

Gerais,

11.04%

23,813

44,611

62

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Preferred

Stocks

–

2.1%

(continued)

Brazil

–

1.4%

(continued)

Companhia

Paranaense

de

Energia,

Class

B,

4.18%

12,149

21,260

Gerdau

SA,

6.89%

17,028

59,891

Itau

Unibanco

Holding

SA,

7.53%

64,651

391,665

Itausa

SA,

8.98%

72,519

133,758

Petroleo

Brasileiro

SA,

8.43%

59,508

481,290

Raizen

SA,

6.33%

16,548

9,770

1,362,341

Chile

–

0.1%

Sociedad

Quimica

y

Minera

de

Chile

SA,

Class

B,

9.48%

1,679

77,005

Colombia

–

0.0%

Bancolombia

SA,

11.02%

6,207

51,194

Russia

–

0.0%

Sberbank

of

Russia

PJSC,

8.09%

(e)

4,890

0

Surgutneftegas

PJSC,

1.19%

(e)

37,000

0

Tatneft

PJSC,

Series

3,

12.59%

(e)

266

0

0

South

Korea

–

0.6%

Hyundai

Motor

Co.,

13.38%

300

34,382

Hyundai

Motor

Co.,

Series

2,

13.36%

397

45,672

LG

Chem

Ltd.,

1.34%

69

13,380

LG

Electronics,

Inc.,

2.00%

309

9,614

Samsung

Electronics

Co.

Ltd.,

2.22%

10,389

490,097

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.,

6.71%

67

11,828

604,973

Total

Preferred

Stocks

(cost

$1,740,952)

2,095,513

Investment

Companies

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$219,995)

219,995

219,995

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$169,334)

169,334

169,334

Total

Investments

(cost

$89,466,479)

100.6%

98,781,702

Liabilities,

Less

Cash

and

Receivables

(0.6)%

(630,640)

Net

Assets

100.0%

98,151,062

ADR—American

Depositary

Receipt

NVDR—Non-Voting

Depositary

Receipt

REIT—Real

Estate

Investment

Trust

(a)

Non-income

producing

security.

(b)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2024,

these

securities

were

valued

at

$4,344,715

or

4.43%

of

net

assets.

(c)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$159,183

and

the

value

of

the

collateral

was

$169,334,

consisting

of

cash

collateral.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(d)

Investment

in

a

real

estate

investment

trust.

(e)

The

fund

held

Level

3

securities

at

April

30,

2024.

These

securities

were

valued

at

$0

or

0.00%

of

net

assets.

(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.

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

63

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financials

22.9

Information

Technology

21.9

Consumer

Discretionary

12.4

Communication

Services

8.8

Industrials

7.8

Materials

6.7

Energy

5.7

Consumer

Staples

5.9

Health

Care

3.4

Utilities

3.1

Real

Estate

1.6

Registered

Investment

Companies

0.4

100.6

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

49,361

1,451,296

(1,280,662)

219,995

3,338

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

11,880

872,286

(714,832)

169,334

2,986

2

Total

–

0.4%

61,241

2,323,582

(1,995,494)

389,329

6,324

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

(Depreciation)

($)

Futures

Long

MSCI

Emerging

Markets

Index

9

6/21/2024

469,872

468,900

(972)

Gross

Unrealized

Depreciation

(972)

64

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

Core

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.5%

Ally

Auto

Receivables

Trust,

Series

2022-3,

Class

A4,

5.07%,

6/15/2031

125,000

123,903

American

Express

Credit

Account

Master

Trust

Series

2022-2,

Class

A,

3.39%,

5/15/2027

250,000

244,560

Series

2022-3,

Class

A,

3.75%,

8/15/2027

100,000

97,805

Series

2023-4,

Class

A,

5.15%,

9/15/2030

500,000

498,350

BA

Credit

Card

Trust,

Series

2023-A1,

Class

A1,

4.79%,

5/15/2028

75,000

74,112

Barclays

Dryrock

Issuance

Trust,

Series

2023-

1,

Class

A,

4.72%,

2/15/2029

100,000

98,615

Capital

One

Multi-Asset

Execution

Trust

Series

2022-A1,

Class

A1,

2.80%,

3/15/2027

40,000

39,050

Series

2022-A2,

Class

A,

3.49%,

5/15/2027

100,000

97,896

Series

2023-A1,

Class

A,

4.42%,

5/15/2028

80,000

78,454

Series

2019-A3,

Class

A3,

2.06%,

8/15/2028

40,000

37,123

CarMax

Auto

Owner

Trust

Series

2021-4,

Class

A4,

0.82%,

4/15/2027

140,000

129,893

Series

2023-2,

Class

A3,

5.05%,

1/18/2028

30,000

29,753

Series

2023-3,

Class

A3,

5.28%,

5/15/2028

100,000

99,522

Chase

Issuance

Trust,

Series

2022-A1,

Class

A,

3.97%,

9/15/2027

1,000,000

979,840

CNH

Equipment

Trust,

Series

2023-A,

Class

A4,

4.77%,

10/15/2030

100,000

98,009

Discover

Card

Execution

Note

Trust

Series

2022-A4,

Class

A,

5.03%,

10/15/2027

100,000

99,305

Series

2023-A1,

Class

A,

4.31%,

3/15/2028

575,000

563,163

Ford

Credit

Auto

Owner

Trust,

Series

2023-A,

Class

A3,

4.65%,

2/15/2028

125,000

123,360

Honda

Auto

Receivables

Owner

Trust,

Series

2023-1,

Class

A4,

4.97%,

6/21/2029

800,000

791,299

Hyundai

Auto

Receivables

Trust

Series

2022-C,

Class

A4,

5.52%,

10/16/2028

1,100,000

1,099,673

Series

2023-C,

Class

A3,

5.54%,

10/16/2028

125,000

125,151

Series

2023-B,

Class

A4,

5.31%,

8/15/2029

296,000

295,122

John

Deere

Owner

Trust,

Series

2021-A,

Class

A4,

0.62%,

12/15/2027

100,000

97,713

Nissan

Auto

Lease

Trust,

Series

2023-A,

Class

A4,

4.80%,

7/15/2027

225,000

223,300

Texas

Natural

Gas

Securitization

Finance

Corp.,

Series

2023-1,

Class

A2,

5.17%,

4/01/2041

50,000

48,746

Toyota

Auto

Receivables

Owner

Trust

Series

2023-A,

Class

A3,

4.63%,

9/15/2027

160,000

157,888

Series

2023-C,

Class

A3,

5.16%,

4/17/2028

110,000

109,290

Series

2024-A,

Class

A4,

4.77%,

4/16/2029

200,000

195,558

Verizon

Master

Trust

Series

2022-7,

Class

A1A,

5.23%,

11/22/2027

100,000

99,757

Series

2022-6,

Class

A,

3.67%,

1/22/2029

100,000

97,667

Series

2023-7,

Class

A1A,

5.67%,

11/20/2029

500,000

502,553

Volkswagen

Auto

Loan

Enhanced

Trust

Series

2023-1,

Class

A3,

5.02%,

6/20/2028

100,000

99,088

Series

2021-1,

Class

A4,

1.26%,

10/20/2028

100,000

95,007

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.5%

(continued)

World

Omni

Auto

Receivables

Trust

Series

2022-B,

Class

A3,

3.25%,

7/15/2027

100,000

98,282

Series

2021-C,

Class

A4,

0.64%,

9/15/2027

100,000

94,072

Series

2022-C,

Class

A3,

3.66%,

10/15/2027

500,000

490,389

Total

Asset-Backed

Securities

(cost

$8,320,529)

8,233,268

Commercial

Mortgage-Backed

Securities

–

0.8%

Bank

Trust

Series

2019-BN16,

Class

A4,

4.01%,

2/15/2052

85,000

78,703

Series

2019-BN21,

Class

A5,

2.85%,

10/17/2052

50,000

43,037

Series

2020-BN30,

Class

A4,

1.93%,

12/15/2053

60,000

46,879

Series

2021-BN31,

Class

A4,

2.04%,

2/15/2054

150,000

119,441

Series

2022-BNK42,

Class

A5,

4.49%,

6/15/2055

90,000

83,047

Series

2023-5YR1,

Class

A3,

6.26%,

4/15/2056

110,000

111,371

Series

2023-BNK46,

Class

A4,

5.75%,

8/15/2056

200,000

201,290

Series

2017-BNK6,

Class

A4,

3.25%,

7/15/2060

50,000

46,418

Series

2018-BN10,

Class

A5,

3.69%,

2/15/2061

93,000

86,523

Series

2018-BN11,

Class

A2,

3.78%,

3/15/2061

188,258

174,066

Series

2018-BN12,

Class

A3,

3.99%,

5/15/2061

80,000

74,445

Series

2019-BN18,

Class

A4,

3.58%,

5/15/2062

1,593,000

1,405,298

Series

2021-BN37,

Class

A4,

2.37%,

11/15/2064

100,000

79,925

Barclays

Commercial

Mortgage

Trust,

Series

2019-C4,

Class

A5,

2.92%,

8/15/2052

25,000

21,816

BBCMS

Mortgage

Trust

Series

2018-C2,

Class

A4,

4.05%,

12/15/2051

85,000

78,929

Series

2020-C6,

Class

A4,

2.64%,

2/15/2053

60,000

50,736

Series

2021-C9,

Class

A5,

2.30%,

2/15/2054

250,000

201,141

Series

2021-C12,

Class

A5,

2.69%,

11/15/2054

400,000

328,221

Series

2022-C18,

Class

A5,

5.71%,

12/15/2055

100,000

100,512

Series

2023-C20,

Class

A3,

5.99%,

7/15/2056

1,000,000

1,012,667

Benchmark

Mortgage

Trust

Series

2020-IG1,

Class

AS,

2.91%,

9/15/2043

50,000

37,383

Series

2018-B2,

Class

A4,

3.61%,

2/15/2051

50,000

46,738

Series

2020-B16,

Class

AM,

2.94%,

2/15/2053

180,000

149,732

Series

2020-B21,

Class

A5,

1.98%,

12/17/2053

450,000

354,870

Series

2021-B27,

Class

A5,

2.39%,

7/15/2054

120,000

94,474

Series

2021-B30,

Class

A5,

2.58%,

11/15/2054

125,000

101,072

Series

2022-B32,

Class

A5,

3.00%,

1/15/2055

150,000

120,977

65

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Commercial

Mortgage-Backed

Securities

–

0.8%

(continued)

Benchmark

Mortgage

Trust

(continued)

Series

2022-B34,

Class

A5,

3.79%,

4/15/2055

100,000

85,434

Series

2022-B35,

Class

A5,

4.59%,

5/15/2055

240,000

216,388

Series

2023-V2,

Class

A2,

5.36%,

5/15/2055

260,000

255,566

BMO

Mortgage

Trust,

Series

2023-C4,

Class

A5,

5.12%,

2/15/2056

50,000

47,896

Citigroup

Commercial

Mortgage

Trust

Series

2015-GC35,

Class

A4,

3.82%,

11/10/2048

100,000

96,490

Series

2016-P4,

Class

AS,

3.08%,

7/10/2049

120,000

109,925

Series

2016-C3,

Class

A4,

3.15%,

11/15/2049

130,000

121,336

Series

2017-C4,

Class

A4,

3.47%,

10/12/2050

125,000

115,391

COMM

Mortgage

Trust

Series

2015-CR26,

Class

A3,

3.36%,

10/10/2048

85,728

83,180

Series

2015-LC23,

Class

A4,

3.77%,

10/10/2048

50,000

48,351

Series

2019-GC44,

Class

A5,

2.95%,

8/15/2057

200,000

172,202

CSAIL

Commercial

Mortgage

Trust

Series

2015-C3,

Class

A4,

3.72%,

8/15/2048

2,150,000

2,089,761

Series

2015-C4,

Class

C,

4.71%,

11/15/2048

108,000

101,111

Series

2017-C8,

Class

A4,

3.39%,

6/15/2050

1,000,000

908,293

Series

2018-CX11,

Class

A4,

3.77%,

4/15/2051

50,000

47,832

GS

Mortgage

Securities

Trust

Series

2016-GS2,

Class

A4,

3.05%,

5/10/2049

100,000

94,854

Series

2017-GS8,

Class

A3,

3.21%,

11/10/2050

80,000

73,511

Series

2017-GS8,

Class

A4,

3.47%,

11/10/2050

25,000

22,995

Series

2020-GC45,

Class

AAB,

2.84%,

2/13/2053

180,000

166,368

JPMBB

Commercial

Mortgage

Securities

Trust,

Series

2015-C32,

Class

A5,

3.60%,

11/15/2048

100,000

95,746

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

2017-JP6,

Class

A4,

3.22%,

7/15/2050

100,000

95,284

JPMorgan

Chase

Commercial

Mortgage

Securities

Trust,

Series

2016-JP3,

Class

A4,

2.63%,

8/15/2049

1,001,299

938,858

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

2016-C29,

Class

A4,

3.33%,

5/15/2049

150,000

142,991

Morgan

Stanley

Capital

I

Trust

Series

2016-UBS9,

Class

A4,

3.59%,

3/15/2049

50,000

47,735

Series

2017-H1,

Class

A5,

3.53%,

6/15/2050

1,700,000

1,576,032

Series

2020-L4,

Class

A3,

2.70%,

2/15/2053

100,000

85,007

Series

2021-L5,

Class

A2,

1.52%,

5/15/2054

175,000

160,848

UBS

Commercial

Mortgage

Trust

Series

2017-C7,

Class

A3,

3.42%,

12/15/2050

54,910

51,104

Series

2018-C8,

Class

A3,

3.72%,

2/15/2051

24,006

22,376

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Commercial

Mortgage-Backed

Securities

–

0.8%

(continued)

UBS

Commercial

Mortgage

Trust

(continued)

Series

2019-C16,

Class

A4,

3.60%,

4/15/2052

75,000

67,746

Wells

Fargo

Commercial

Mortgage

Trust

Series

2015-C28,

Class

A4,

3.54%,

5/15/2048

60,000

58,502

Series

2016-C34,

Class

AS,

3.48%,

6/15/2049

100,000

92,367

Series

2017-C41,

Class

A3,

3.21%,

11/15/2050

250,000

231,937

Series

2017-C41,

Class

A4,

3.47%,

11/15/2050

10,000

9,239

Series

2019-C50,

Class

A5,

3.73%,

5/15/2052

150,000

135,724

Series

2020-C55,

Class

A5,

2.73%,

2/15/2053

100,000

85,542

Series

2016-NXS5,

Class

A5,

3.37%,

1/15/2059

50,000

47,953

Total

Commercial

Mortgage-Backed

Securities

(cost

$14,502,536)

14,051,586

Corporate

Bonds

–

24.8%

Basic

Materials

–

0.6%

Air

Products

&

Chemicals,

Inc.

4.60%,

2/08/2029

100,000

97,663

2.05%,

5/15/2030

31,000

25,921

4.85%,

2/08/2034

200,000

191,160

2.70%,

5/15/2040

50,000

34,626

2.80%,

5/15/2050

120,000

75,061

Albemarle

Corp.

5.45%,

12/01/2044

50,000

43,928

5.65%,

6/01/2052

35,000

30,572

ArcelorMittal

SA

4.55%,

3/11/2026

35,000

34,169

6.55%,

11/29/2027

40,000

41,011

4.25%,

7/16/2029

75,000

70,473

6.75%,

3/01/2041

248,000

251,137

Barrick

North

America

Finance

LLC

,

5.75%

,

5/01/2043

125,000

122,666

Barrick

PD

Australia

Finance

Pty

Ltd.

,

5.95%

,

10/15/2039

120,000

118,874

BHP

Billiton

Finance

USA

Ltd.

5.25%,

9/08/2026

20,000

19,950

5.10%,

9/08/2028

110,000

109,172

5.25%,

9/08/2030

55,000

54,535

4.90%,

2/28/2033

35,000

33,527

5.25%,

9/08/2033

329,000

322,453

4.13%,

2/24/2042

355,000

292,766

5.00%,

9/30/2043

30,000

27,315

5.50%,

9/08/2053

140,000

135,408

Celanese

US

Holdings

LLC

1.40%,

8/05/2026

10,000

9,072

6.17%,

7/15/2027

35,000

35,229

6.35%,

11/15/2028

20,000

20,322

6.33%,

7/15/2029

130,000

131,910

6.55%,

11/15/2030

205,000

210,015

6.70%,

11/15/2033

20,000

20,654

CF

Industries,

Inc.

5.15%,

3/15/2034

70,000

65,982

4.95%,

6/01/2043

280,000

239,593

5.38%,

3/15/2044

60,000

53,783

66

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Basic

Materials

–

0.6%

(continued)

Dow

Chemical

Co.

(The)

7.38%,

11/01/2029

70,000

76,080

5.15%,

2/15/2034

400,000

384,786

5.25%,

11/15/2041

70,000

63,496

4.38%,

11/15/2042

60,000

48,700

4.63%,

10/01/2044

250,000

208,612

6.90%,

5/15/2053

85,000

93,226

DuPont

de

Nemours,

Inc.

4.49%,

11/15/2025

390,000

383,507

4.73%,

11/15/2028

35,000

34,314

5.32%,

11/15/2038

145,000

137,457

5.42%,

11/15/2048

110,000

102,619

Eastman

Chemical

Co.

5.63%,

2/20/2034

200,000

194,828

4.65%,

10/15/2044

180,000

146,429

Ecolab,

Inc.

3.25%,

12/01/2027

90,000

84,250

5.25%,

1/15/2028

155,000

155,265

4.80%,

3/24/2030

35,000

34,315

1.30%,

1/30/2031

120,000

94,016

2.13%,

2/01/2032

20,000

16,110

3.95%,

12/01/2047

10,000

7,925

2.75%,

8/18/2055

60,000

35,347

EIDP,

Inc.

1.70%,

7/15/2025

190,000

181,607

4.50%,

5/15/2026

10,000

9,812

4.80%,

5/15/2033

10,000

9,514

FMC

Corp.

3.20%,

10/01/2026

90,000

84,687

3.45%,

10/01/2029

50,000

44,324

5.65%,

5/18/2033

50,000

47,877

4.50%,

10/01/2049

70,000

51,285

6.38%,

5/18/2053

30,000

28,486

Freeport-McMoRan,

Inc.

5.00%,

9/01/2027

10,000

9,816

4.38%,

8/01/2028

200,000

189,827

5.25%,

9/01/2029

150,000

149,177

4.25%,

3/01/2030

205,000

189,556

5.45%,

3/15/2043

20,000

18,349

Huntsman

International

LLC

4.50%,

5/01/2029

10,000

9,329

2.95%,

6/15/2031

50,000

40,506

International

Flavors

&

Fragrances,

Inc.

,

5.00%

,

9/26/2048

96,000

79,154

International

Paper

Co.

,

4.80%

,

6/15/2044

113,000

96,733

Linde,

Inc.

3.20%,

1/30/2026

185,000

178,401

1.10%,

8/10/2030

50,000

39,524

LYB

International

Finance

III

LLC

1.25%,

10/01/2025

23,000

21,566

5.63%,

5/15/2033

(a)

10,000

9,931

3.38%,

10/01/2040

185,000

132,641

4.20%,

10/15/2049

64,000

47,738

4.20%,

5/01/2050

215,000

159,779

3.80%,

10/01/2060

204,000

134,394

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Basic

Materials

–

0.6%

(continued)

LyondellBasell

Industries

NV

,

4.63%

,

2/26/2055

10,000

7,840

Mosaic

Co.

(The)

,

4.88%

,

11/15/2041

10,000

8,580

NewMarket

Corp.

,

2.70%

,

3/18/2031

25,000

20,542

Newmont

Corp.

6.25%,

10/01/2039

500,000

518,031

4.88%,

3/15/2042

35,000

31,313

Nucor

Corp.

2.00%,

6/01/2025

160,000

154,140

4.30%,

5/23/2027

10,000

9,711

3.95%,

5/01/2028

13,000

12,360

Nutrien

Ltd.

4.20%,

4/01/2029

20,000

18,872

2.95%,

5/13/2030

70,000

61,001

4.13%,

3/15/2035

100,000

87,394

PPG

Industries,

Inc.

,

1.20%

,

3/15/2026

51,000

47,076

Rio

Tinto

Alcan,

Inc.

7.25%,

3/15/2031

26,000

28,416

6.13%,

12/15/2033

100,000

104,381

Rio

Tinto

Finance

USA

PLC

5.00%,

3/09/2033

55,000

53,729

5.13%,

3/09/2053

155,000

142,536

RPM

International,

Inc.

,

3.75%

,

3/15/2027

10,000

9,475

Sherwin-Williams

Co.

(The)

3.95%,

1/15/2026

62,000

60,428

3.45%,

6/01/2027

560,000

529,173

2.95%,

8/15/2029

125,000

110,777

2.30%,

5/15/2030

36,000

30,118

4.00%,

12/15/2042

40,000

31,304

4.50%,

6/01/2047

25,000

20,657

3.30%,

5/15/2050

75,000

49,816

Southern

Copper

Corp.

6.75%,

4/16/2040

224,000

240,796

5.25%,

11/08/2042

50,000

45,465

5.88%,

4/23/2045

25,000

24,223

Steel

Dynamics,

Inc.

3.25%,

1/15/2031

37,000

32,137

3.25%,

10/15/2050

50,000

31,769

Suzano

Austria

GmbH

6.00%,

1/15/2029

25,000

24,755

5.00%,

1/15/2030

187,000

175,746

Series

DM3N,

3.13%,

1/15/2032

170,000

136,445

Vale

Overseas

Ltd.

6.25%,

8/10/2026

(a)

200,000

202,513

3.75%,

7/08/2030

567,000

499,034

6.88%,

11/21/2036

100,000

102,468

Westlake

Corp.

3.60%,

8/15/2026

59,000

56,329

5.00%,

8/15/2046

25,000

21,238

4.38%,

11/15/2047

70,000

55,107

10,979,937

Communications

–

2.1%

Alphabet,

Inc.

0.80%,

8/15/2027

104,000

91,461

1.10%,

8/15/2030

137,000

109,311

1.90%,

8/15/2040

160,000

101,870

2.05%,

8/15/2050

285,000

158,923

2.25%,

8/15/2060

10,000

5,408

67

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

Amazon.com,

Inc.

4.60%,

12/01/2025

45,000

44,627

1.00%,

5/12/2026

200,000

184,016

3.30%,

4/13/2027

150,000

142,732

1.20%,

6/03/2027

185,000

164,650

3.15%,

8/22/2027

280,000

263,748

4.55%,

12/01/2027

245,000

241,072

1.65%,

5/12/2028

575,000

504,518

4.65%,

12/01/2029

145,000

142,696

1.50%,

6/03/2030

117,000

95,365

2.10%,

5/12/2031

87,000

71,594

3.60%,

4/13/2032

125,000

112,802

4.80%,

12/05/2034

50,000

48,606

3.88%,

8/22/2037

100,000

85,988

2.88%,

5/12/2041

201,000

144,330

4.05%,

8/22/2047

272,000

222,167

2.50%,

6/03/2050

155,000

91,900

3.10%,

5/12/2051

227,000

151,641

3.95%,

4/13/2052

134,000

105,469

4.25%,

8/22/2057

90,000

73,167

2.70%,

6/03/2060

10,000

5,734

3.25%,

5/12/2061

160,000

104,125

4.10%,

4/13/2062

190,000

148,612

America

Movil

SAB

de

CV

6.13%,

3/30/2040

70,000

70,413

4.38%,

7/16/2042

305,000

252,686

AT&T,

Inc.

3.88%,

1/15/2026

185,000

179,934

1.70%,

3/25/2026

150,000

139,759

2.95%,

7/15/2026

50,000

47,379

3.80%,

2/15/2027

35,000

33,523

4.25%,

3/01/2027

150,000

145,702

2.30%,

6/01/2027

95,000

86,623

1.65%,

2/01/2028

305,000

266,497

4.10%,

2/15/2028

365,000

348,426

4.30%,

2/15/2030

115,000

108,136

2.75%,

6/01/2031

61,000

51,045

2.25%,

2/01/2032

75,000

59,209

2.55%,

12/01/2033

300,000

231,626

5.40%,

2/15/2034

500,000

489,061

4.50%,

5/15/2035

185,000

166,056

5.25%,

3/01/2037

100,000

94,959

4.85%,

3/01/2039

35,000

31,155

3.50%,

6/01/2041

25,000

18,558

5.15%,

3/15/2042

139,000

124,862

3.10%,

2/01/2043

40,000

28,173

4.75%,

5/15/2046

500,000

423,006

4.50%,

3/09/2048

75,000

60,377

4.55%,

3/09/2049

50,000

40,545

5.15%,

2/15/2050

250,000

219,565

3.65%,

6/01/2051

150,000

103,266

3.30%,

2/01/2052

200,000

129,437

3.50%,

9/15/2053

445,000

293,018

3.55%,

9/15/2055

155,000

100,935

3.80%,

12/01/2057

615,000

415,649

3.65%,

9/15/2059

50,000

32,441

3.85%,

6/01/2060

205,000

138,633

Bell

Telephone

Co.

of

Canada

or

Bell

Canada

(The)

4.46%,

4/01/2048

24,000

19,500

4.30%,

7/29/2049

180,000

142,387

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

Booking

Holdings,

Inc.

3.60%,

6/01/2026

70,000

67,559

3.55%,

3/15/2028

25,000

23,496

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

Corp.

5.05%,

3/30/2029

150,000

141,586

2.80%,

4/01/2031

106,000

84,287

2.30%,

2/01/2032

120,000

89,577

6.65%,

2/01/2034

170,000

167,562

6.38%,

10/23/2035

25,000

23,604

5.38%,

4/01/2038

20,000

16,515

3.50%,

6/01/2041

450,000

287,716

5.75%,

4/01/2048

150,000

120,636

5.13%,

7/01/2049

275,000

201,680

4.80%,

3/01/2050

130,000

90,851

3.70%,

4/01/2051

355,000

207,289

3.90%,

6/01/2052

45,000

27,112

6.83%,

10/23/2055

41,000

37,392

3.85%,

4/01/2061

100,000

55,764

4.40%,

12/01/2061

560,000

346,695

5.50%,

4/01/2063

150,000

111,291

Cisco

Systems,

Inc.

3.50%,

6/15/2025

45,000

44,109

4.90%,

2/26/2026

300,000

298,485

2.95%,

2/28/2026

25,000

24,007

5.90%,

2/15/2039

150,000

155,952

5.50%,

1/15/2040

125,000

124,441

5.35%,

2/26/2064

200,000

190,769

Comcast

Corp.

3.38%,

8/15/2025

235,000

228,977

2.35%,

1/15/2027

195,000

180,660

3.30%,

2/01/2027

120,000

114,118

5.35%,

11/15/2027

295,000

296,612

3.55%,

5/01/2028

140,000

131,269

4.15%,

10/15/2028

250,000

239,478

4.55%,

1/15/2029

(a)

35,000

34,011

3.40%,

4/01/2030

75,000

67,496

1.95%,

1/15/2031

172,000

138,885

1.50%,

2/15/2031

50,000

39,196

4.25%,

1/15/2033

50,000

45,733

4.65%,

2/15/2033

(a)

50,000

47,316

4.80%,

5/15/2033

(a)

15,000

14,284

4.20%,

8/15/2034

150,000

134,501

5.65%,

6/15/2035

25,000

24,986

6.95%,

8/15/2037

100,000

109,965

4.60%,

10/15/2038

25,000

22,228

3.25%,

11/01/2039

93,000

68,950

3.75%,

4/01/2040

750,000

594,234

3.97%,

11/01/2047

50,000

37,855

4.00%,

3/01/2048

250,000

191,158

4.70%,

10/15/2048

160,000

137,613

4.00%,

11/01/2049

50,000

37,754

2.80%,

1/15/2051

255,000

151,833

2.89%,

11/01/2051

160,000

96,682

5.35%,

5/15/2053

(a)

25,000

23,290

2.94%,

11/01/2056

100,000

58,272

4.95%,

10/15/2058

90,000

78,344

2.65%,

8/15/2062

50,000

26,160

2.99%,

11/01/2063

235,000

133,877

68

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

Comcast

Corp.

(continued)

5.50%,

5/15/2064

525,000

489,183

Corning,

Inc.

5.35%,

11/15/2048

50,000

45,870

3.90%,

11/15/2049

50,000

37,123

5.85%,

11/15/2068

15,000

14,176

5.45%,

11/15/2079

65,000

57,459

Deutsche

Telekom

International

Finance

BV

8.75%,

6/15/2030

50,000

57,619

9.25%,

6/01/2032

100,000

122,613

Discovery

Communications

LLC

3.95%,

3/20/2028

275,000

255,510

3.63%,

5/15/2030

58,000

50,440

4.88%,

4/01/2043

25,000

19,491

5.20%,

9/20/2047

30,000

23,475

4.65%,

5/15/2050

(a)

80,000

57,751

4.00%,

9/15/2055

177,000

110,687

eBay,

Inc.

1.40%,

5/10/2026

45,000

41,442

3.60%,

6/05/2027

75,000

71,095

2.70%,

3/11/2030

17,000

14,707

6.30%,

11/22/2032

10,000

10,434

4.00%,

7/15/2042

175,000

136,470

3.65%,

5/10/2051

3,000

2,106

Expedia

Group,

Inc.

4.63%,

8/01/2027

30,000

29,115

3.80%,

2/15/2028

133,000

124,655

FactSet

Research

Systems,

Inc.

,

2.90%

,

3/01/2027

90,000

83,492

Fox

Corp.

4.71%,

1/25/2029

50,000

48,354

3.50%,

4/08/2030

115,000

102,672

6.50%,

10/13/2033

30,000

30,783

5.48%,

1/25/2039

100,000

91,606

5.58%,

1/25/2049

85,000

75,509

Grupo

Televisa

SAB

,

6.63%

,

1/15/2040

71,000

69,006

Interpublic

Group

of

Cos.,

Inc.

(The)

4.75%,

3/30/2030

20,000

19,104

3.38%,

3/01/2041

60,000

42,537

5.40%,

10/01/2048

40,000

35,879

Juniper

Networks,

Inc.

1.20%,

12/10/2025

40,000

37,203

3.75%,

8/15/2029

50,000

45,612

2.00%,

12/10/2030

110,000

86,615

Meta

Platforms,

Inc.

3.50%,

8/15/2027

70,000

66,530

4.60%,

5/15/2028

70,000

68,755

4.80%,

5/15/2030

90,000

88,281

3.85%,

8/15/2032

220,000

199,860

4.95%,

5/15/2033

(a)

30,000

29,412

4.45%,

8/15/2052

105,000

87,270

4.65%,

8/15/2062

140,000

116,333

5.75%,

5/15/2063

425,000

423,369

Motorola

Solutions,

Inc.

4.60%,

2/23/2028

20,000

19,385

2.30%,

11/15/2030

45,000

36,869

5.60%,

6/01/2032

97,000

96,470

5.50%,

9/01/2044

22,000

20,779

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

Netflix,

Inc.

4.88%,

4/15/2028

830,000

815,167

5.88%,

11/15/2028

200,000

203,996

6.38%,

5/15/2029

40,000

41,668

Nokia

OYJ

,

4.38%

,

6/12/2027

104,000

99,508

Omnicom

Group,

Inc.

,

2.60%

,

8/01/2031

190,000

156,622

Orange

SA

9.00%,

3/01/2031

227,000

268,267

5.38%,

1/13/2042

67,000

63,080

Paramount

Global

7.88%,

7/30/2030

40,000

41,352

4.20%,

5/19/2032

145,000

118,538

6.88%,

4/30/2036

177,000

164,938

5.90%,

10/15/2040

150,000

122,492

4.38%,

3/15/2043

235,000

155,576

5.85%,

9/01/2043

180,000

142,561

4.90%,

8/15/2044

125,000

87,319

4.95%,

5/19/2050

110,000

76,792

Rogers

Communications,

Inc.

2.90%,

11/15/2026

35,000

32,752

3.20%,

3/15/2027

250,000

234,518

4.50%,

3/15/2042

500,000

411,791

4.30%,

2/15/2048

160,000

122,827

4.35%,

5/01/2049

80,000

61,619

Sprint

Capital

Corp.

6.88%,

11/15/2028

60,000

62,883

8.75%,

3/15/2032

35,000

41,327

Sprint

LLC

,

7.63%

,

3/01/2026

56,000

57,449

TCI

Communications,

Inc.

,

7.88%

,

2/15/2026

100,000

104,033

Telefonica

Emisiones

SA

7.05%,

6/20/2036

120,000

128,451

4.90%,

3/06/2048

200,000

165,988

5.52%,

3/01/2049

130,000

117,704

Telefonica

Europe

BV

,

8.25%

,

9/15/2030

75,000

84,079

TELUS

Corp.

2.80%,

2/16/2027

30,000

27,905

3.70%,

9/15/2027

14,000

13,241

4.60%,

11/16/2048

60,000

49,100

Time

Warner

Cable

Enterprises

LLC

,

8.38%

,

7/15/2033

200,000

216,372

Time

Warner

Cable

LLC

6.55%,

5/01/2037

100,000

90,955

7.30%,

7/01/2038

110,000

106,641

6.75%,

6/15/2039

90,000

82,348

5.88%,

11/15/2040

100,000

82,691

5.50%,

9/01/2041

150,000

119,176

T-Mobile

USA,

Inc.

1.50%,

2/15/2026

20,000

18,609

2.25%,

2/15/2026

55,000

51,854

2.63%,

4/15/2026

65,000

61,454

3.75%,

4/15/2027

285,000

271,495

2.05%,

2/15/2028

520,000

459,502

4.95%,

3/15/2028

120,000

117,807

4.80%,

7/15/2028

450,000

438,313

2.40%,

3/15/2029

100,000

86,954

3.88%,

4/15/2030

22,000

20,133

2.55%,

2/15/2031

156,000

129,464

2.88%,

2/15/2031

150,000

127,263

2.70%,

3/15/2032

109,000

88,929

69

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

T-Mobile

USA,

Inc.

(continued)

5.05%,

7/15/2033

100,000

95,842

5.75%,

1/15/2034

160,000

161,329

4.38%,

4/15/2040

515,000

438,475

3.00%,

2/15/2041

85,000

59,451

4.50%,

4/15/2050

95,000

77,181

3.30%,

2/15/2051

260,000

170,313

3.40%,

10/15/2052

25,000

16,506

5.65%,

1/15/2053

205,000

196,496

5.75%,

1/15/2054

45,000

43,608

6.00%,

6/15/2054

90,000

90,575

3.60%,

11/15/2060

95,000

62,253

5.80%,

9/15/2062

25,000

24,239

TWDC

Enterprises

18

Corp.

Series

E,

4.13%,

12/01/2041

100,000

82,877

4.13%,

6/01/2044

135,000

110,093

3.00%,

7/30/2046

135,000

88,721

VeriSign,

Inc.

,

4.75%

,

7/15/2027

45,000

43,519

Verizon

Communications,

Inc.

2.63%,

8/15/2026

361,000

339,393

3.00%,

3/22/2027

235,000

220,270

2.10%,

3/22/2028

225,000

199,207

4.33%,

9/21/2028

517,000

495,566

3.88%,

2/08/2029

161,000

150,759

4.02%,

12/03/2029

250,000

232,932

3.15%,

3/22/2030

50,000

44,112

1.50%,

9/18/2030

205,000

163,111

1.68%,

10/30/2030

140,000

111,108

1.75%,

1/20/2031

80,000

63,205

2.55%,

3/21/2031

175,000

145,253

2.36%,

3/15/2032

455,000

362,768

5.05%,

5/09/2033

(a)

165,000

159,550

4.50%,

8/10/2033

50,000

46,165

5.25%,

3/16/2037

100,000

96,483

4.81%,

3/15/2039

500,000

452,156

3.40%,

3/22/2041

185,000

137,719

2.85%,

9/03/2041

50,000

34,127

6.55%,

9/15/2043

260,000

281,967

4.86%,

8/21/2046

50,000

44,142

5.50%,

3/16/2047

40,000

38,701

4.52%,

9/15/2048

194,000

162,226

2.88%,

11/20/2050

435,000

265,235

3.55%,

3/22/2051

15,000

10,461

3.88%,

3/01/2052

(a)

30,000

22,122

5.01%,

8/21/2054

25,000

22,138

2.99%,

10/30/2056

210,000

124,146

3.00%,

11/20/2060

(a)

454,000

263,078

3.70%,

3/22/2061

140,000

95,558

Vodafone

Group

PLC

4.13%,

5/30/2025

138,000

135,858

4.38%,

5/30/2028

71,000

68,826

4.38%,

2/19/2043

120,000

98,139

5.25%,

5/30/2048

10,000

9,008

4.88%,

6/19/2049

(a)

185,000

156,464

4.25%,

9/17/2050

25,000

19,006

5.63%,

2/10/2053

175,000

163,721

5.13%,

6/19/2059

193,000

164,952

5.75%,

2/10/2063

55,000

51,868

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Communications

–

2.1%

(continued)

Walt

Disney

Co.

(The)

3.70%,

10/15/2025

250,000

243,899

3.70%,

3/23/2027

600,000

577,383

2.00%,

9/01/2029

70,000

59,647

3.80%,

3/22/2030

100,000

92,804

2.65%,

1/13/2031

150,000

128,334

6.20%,

12/15/2034

250,000

266,396

6.40%,

12/15/2035

10,000

10,724

6.65%,

11/15/2037

120,000

132,092

4.63%,

3/23/2040

165,000

149,760

3.50%,

5/13/2040

75,000

58,403

4.75%,

9/15/2044

50,000

44,316

4.70%,

3/23/2050

(a)

270,000

238,990

3.60%,

1/13/2051

105,000

76,107

Weibo

Corp.

,

3.38%

,

7/08/2030

(a)

225,000

192,541

35,474,168

Consumer,

Cyclical

–

1.6%

American

Airlines

Pass-Through

Trust

Series

2014-1,

Class

A,

3.70%,

10/01/2026

5,051

4,792

Series

2015-1,

Class

A,

3.38%,

5/01/2027

5,753

5,387

Series

2016-2,

Class

AA,

3.20%,

6/15/2028

40,470

36,938

Series

2017-1,

Class

AA,

3.65%,

2/15/2029

33,125

30,687

Series

2017-2,

Class

AA,

3.35%,

10/15/2029

151,935

138,168

American

Honda

Finance

Corp.

5.00%,

5/23/2025

32,000

31,828

Series

G,

5.80%,

10/03/2025

20,000

20,073

Series

G,

5.25%,

7/07/2026

15,000

14,970

4.70%,

1/12/2028

15,000

14,732

Series

G,

5.13%,

7/07/2028

35,000

34,768

5.65%,

11/15/2028

75,000

76,033

2.25%,

1/12/2029

131,000

114,817

4.60%,

4/17/2030

100,000

96,175

Series

G,

5.85%,

10/04/2030

136,000

139,239

Aptiv

PLC

/

Aptiv

Corp.

,

4.15%

,

5/01/2052

70,000

50,416

AutoNation,

Inc.

4.50%,

10/01/2025

15,000

14,699

1.95%,

8/01/2028

45,000

38,342

AutoZone,

Inc.

5.05%,

7/15/2026

10,000

9,926

4.50%,

2/01/2028

19,000

18,378

6.25%,

11/01/2028

10,000

10,305

4.00%,

4/15/2030

75,000

69,401

6.55%,

11/01/2033

10,000

10,614

Best

Buy

Co.,

Inc.

,

4.45%

,

10/01/2028

308,000

296,589

Choice

Hotels

International,

Inc.

3.70%,

12/01/2029

120,000

105,824

3.70%,

1/15/2031

55,000

47,084

Costco

Wholesale

Corp.

3.00%,

5/18/2027

423,000

399,419

1.38%,

6/20/2027

70,000

62,643

Cummins,

Inc.

0.75%,

9/01/2025

60,000

56,460

4.90%,

2/20/2029

150,000

148,189

5.15%,

2/20/2034

200,000

196,124

2.60%,

9/01/2050

50,000

29,412

5.45%,

2/20/2054

250,000

240,527

70

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

Darden

Restaurants,

Inc.

3.85%,

5/01/2027

210,000

199,838

6.30%,

10/10/2033

(a)

10,000

10,135

4.55%,

2/15/2048

20,000

15,628

Dick's

Sporting

Goods,

Inc.

,

4.10%

,

1/15/2052

85,000

57,702

Dollar

General

Corp.

4.15%,

11/01/2025

60,000

58,657

4.63%,

11/01/2027

100,000

97,243

5.20%,

7/05/2028

10,000

9,870

3.50%,

4/03/2030

50,000

44,818

5.45%,

7/05/2033

15,000

14,683

4.13%,

4/03/2050

103,000

75,836

Dollar

Tree,

Inc.

4.00%,

5/15/2025

54,000

53,025

4.20%,

5/15/2028

50,000

47,510

3.38%,

12/01/2051

25,000

15,687

Ford

Motor

Co.

7.45%,

7/16/2031

(a)

127,000

134,569

3.25%,

2/12/2032

423,000

340,938

6.10%,

8/19/2032

100,000

98,030

Ford

Motor

Credit

Co.

LLC

3.38%,

11/13/2025

200,000

192,048

6.95%,

3/06/2026

220,000

223,005

2.70%,

8/10/2026

200,000

185,662

4.13%,

8/17/2027

200,000

187,870

6.80%,

5/12/2028

400,000

408,161

7.12%,

11/07/2033

700,000

729,133

General

Motors

Co.

6.13%,

10/01/2025

150,000

150,528

4.20%,

10/01/2027

115,000

109,728

5.60%,

10/15/2032

750,000

736,737

6.60%,

4/01/2036

120,000

123,219

5.15%,

4/01/2038

100,000

89,913

6.75%,

4/01/2046

31,000

31,843

5.95%,

4/01/2049

(a)

108,000

101,537

General

Motors

Financial

Co.,

Inc.

6.05%,

10/10/2025

85,000

85,212

5.25%,

3/01/2026

25,000

24,812

4.00%,

10/06/2026

225,000

216,275

2.35%,

2/26/2027

80,000

73,101

5.00%,

4/09/2027

95,000

93,349

6.00%,

1/09/2028

122,000

123,063

5.80%,

6/23/2028

275,000

275,385

2.40%,

10/15/2028

60,000

52,175

5.85%,

4/06/2030

(a)

15,000

14,954

3.60%,

6/21/2030

50,000

44,014

2.35%,

1/08/2031

45,000

36,155

2.70%,

6/10/2031

105,000

85,100

Genuine

Parts

Co.

1.88%,

11/01/2030

25,000

19,860

2.75%,

2/01/2032

20,000

16,256

Harley-Davidson,

Inc.

,

3.50%

,

7/28/2025

45,000

43,705

Harman

International

Industries,

Inc.

,

4.15%

,

5/15/2025

232,000

228,076

Hasbro,

Inc.

3.55%,

11/19/2026

50,000

47,372

3.90%,

11/19/2029

70,000

63,734

6.35%,

3/15/2040

50,000

49,760

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

Home

Depot,

Inc.

(The)

2.50%,

4/15/2027

20,000

18,547

2.88%,

4/15/2027

128,000

120,161

2.80%,

9/14/2027

240,000

222,798

3.90%,

12/06/2028

10,000

9,517

2.95%,

6/15/2029

125,000

112,700

2.70%,

4/15/2030

168,000

146,369

1.38%,

3/15/2031

127,000

98,934

4.50%,

9/15/2032

200,000

191,348

5.88%,

12/16/2036

350,000

362,833

4.25%,

4/01/2046

200,000

164,366

4.50%,

12/06/2048

80,000

67,663

2.38%,

3/15/2051

771,000

430,253

3.63%,

4/15/2052

145,000

104,861

3.50%,

9/15/2056

15,000

10,366

Honda

Motor

Co.

Ltd.

2.53%,

3/10/2027

415,000

385,359

2.97%,

3/10/2032

55,000

47,281

Hyatt

Hotels

Corp.

4.85%,

3/15/2026

50,000

49,256

5.75%,

1/30/2027

23,000

23,119

4.38%,

9/15/2028

25,000

23,820

5.75%,

4/23/2030

75,000

74,905

JetBlue

Pass-Through

Trust

,

Series

2020-1

,

Class

A

,

4.00%

,

11/15/2032

32,148

29,392

Lear

Corp.

3.50%,

5/30/2030

108,000

95,226

5.25%,

5/15/2049

45,000

39,308

Leggett

&

Platt,

Inc.

3.50%,

11/15/2027

125,000

114,100

3.50%,

11/15/2051

25,000

15,886

Lennar

Corp.

4.75%,

5/30/2025

80,000

79,093

5.25%,

6/01/2026

15,000

14,887

5.00%,

6/15/2027

135,000

133,234

4.75%,

11/29/2027

150,000

147,390

Lowe's

Cos.,

Inc.

3.38%,

9/15/2025

80,000

77,717

3.35%,

4/01/2027

135,000

127,684

3.10%,

5/03/2027

252,000

236,581

1.70%,

9/15/2028

420,000

360,907

1.70%,

10/15/2030

40,000

31,917

2.63%,

4/01/2031

110,000

92,209

3.75%,

4/01/2032

300,000

267,300

5.00%,

4/15/2040

50,000

45,406

3.70%,

4/15/2046

433,000

312,934

4.05%,

5/03/2047

105,000

79,761

3.00%,

10/15/2050

85,000

52,252

3.50%,

4/01/2051

30,000

20,236

4.25%,

4/01/2052

500,000

386,539

4.45%,

4/01/2062

129,000

98,678

5.80%,

9/15/2062

40,000

38,340

Magna

International,

Inc.

5.98%,

3/21/2026

32,000

32,004

2.45%,

6/15/2030

20,000

16,845

Marriott

International,

Inc.

Series

EE,

5.75%,

5/01/2025

75,000

74,983

3.75%,

10/01/2025

100,000

97,323

Series

R,

3.13%,

6/15/2026

75,000

71,450

71

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

Marriott

International,

Inc.

(continued)

5.45%,

9/15/2026

10,000

9,986

5.55%,

10/15/2028

15,000

15,046

Series

AA,

4.65%,

12/01/2028

50,000

48,262

Series

GG,

3.50%,

10/15/2032

150,000

127,505

Mattel,

Inc.

,

5.45%

,

11/01/2041

25,000

21,873

McDonald's

Corp.

3.38%,

5/26/2025

110,000

107,451

3.30%,

7/01/2025

61,000

59,498

3.80%,

4/01/2028

25,000

23,721

4.80%,

8/14/2028

10,000

9,832

2.63%,

9/01/2029

290,000

255,110

3.60%,

7/01/2030

118,000

107,244

4.95%,

8/14/2033

100,000

96,641

4.70%,

12/09/2035

269,000

250,226

6.30%,

3/01/2038

135,000

142,123

5.70%,

2/01/2039

17,000

16,927

4.88%,

12/09/2045

130,000

114,579

4.45%,

3/01/2047

241,000

198,645

4.45%,

9/01/2048

40,000

33,078

3.63%,

9/01/2049

105,000

75,053

4.20%,

4/01/2050

175,000

137,721

5.15%,

9/09/2052

100,000

91,176

5.45%,

8/14/2053

15,000

14,293

MDC

Holdings,

Inc.

2.50%,

1/15/2031

342,000

300,266

6.00%,

1/15/2043

40,000

39,382

3.97%,

8/06/2061

25,000

20,801

Mercedes-Benz

Finance

North

America

LLC

,

8.50%

,

1/18/2031

110,000

130,076

NIKE,

Inc.

2.38%,

11/01/2026

464,000

433,641

2.75%,

3/27/2027

280,000

262,387

2.85%,

3/27/2030

175,000

154,500

3.25%,

3/27/2040

40,000

30,601

3.88%,

11/01/2045

50,000

39,309

3.38%,

3/27/2050

85,000

60,084

O'Reilly

Automotive,

Inc.

3.55%,

3/15/2026

25,000

24,113

5.75%,

11/20/2026

50,000

50,301

3.60%,

9/01/2027

50,000

47,229

3.90%,

6/01/2029

45,000

42,026

1.75%,

3/15/2031

20,000

15,777

PACCAR

Financial

Corp.

1.10%,

5/11/2026

40,000

36,859

Series

D,

5.20%,

11/09/2026

50,000

49,979

2.00%,

2/04/2027

10,000

9,190

Polaris,

Inc.

,

6.95%

,

3/15/2029

50,000

52,055

PulteGroup,

Inc.

5.50%,

3/01/2026

75,000

74,796

5.00%,

1/15/2027

40,000

39,384

6.00%,

2/15/2035

25,000

25,136

PVH

Corp.

,

4.63%

,

7/10/2025

50,000

49,176

Ralph

Lauren

Corp.

3.75%,

9/15/2025

50,000

48,730

2.95%,

6/15/2030

110,000

96,240

Ross

Stores,

Inc.

,

0.88%

,

4/15/2026

15,000

13,730

Sands

China

Ltd.

2.30%,

3/08/2027

200,000

179,964

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

Sands

China

Ltd.

(continued)

5.40%,

8/08/2028

450,000

436,325

Southwest

Airlines

Co.

5.25%,

5/04/2025

164,000

162,982

5.13%,

6/15/2027

175,000

172,545

2.63%,

2/10/2030

75,000

63,594

Starbucks

Corp.

2.45%,

6/15/2026

300,000

282,129

2.00%,

3/12/2027

120,000

109,553

4.00%,

11/15/2028

43,000

40,938

3.55%,

8/15/2029

101,000

93,383

4.80%,

2/15/2033

(a)

165,000

158,249

3.75%,

12/01/2047

150,000

110,649

4.45%,

8/15/2049

40,000

32,602

3.35%,

3/12/2050

40,000

26,804

3.50%,

11/15/2050

202,000

140,837

Tapestry,

Inc.

7.05%,

11/27/2025

50,000

50,776

7.00%,

11/27/2026

50,000

50,929

7.85%,

11/27/2033

50,000

52,304

Target

Corp.

2.50%,

4/15/2026

80,000

76,397

3.38%,

4/15/2029

273,000

252,907

2.35%,

2/15/2030

40,000

34,398

4.50%,

9/15/2032

100,000

94,836

4.00%,

7/01/2042

134,000

110,358

3.90%,

11/15/2047

58,000

44,756

2.95%,

1/15/2052

20,000

12,671

4.80%,

1/15/2053

165,000

147,152

TJX

Cos.,

Inc.

(The)

2.25%,

9/15/2026

200,000

186,955

1.15%,

5/15/2028

10,000

8,564

1.60%,

5/15/2031

102,000

80,673

Toll

Brothers

Finance

Corp.

4.88%,

11/15/2025

148,000

145,775

4.88%,

3/15/2027

15,000

14,658

Toyota

Motor

Corp.

5.28%,

7/13/2026

10,000

9,994

5.12%,

7/13/2028

25,000

24,996

Toyota

Motor

Credit

Corp.

3.95%,

6/30/2025

65,000

63,929

5.60%,

9/11/2025

10,000

10,035

4.45%,

5/18/2026

15,000

14,753

5.00%,

8/14/2026

45,000

44,699

5.40%,

11/20/2026

50,000

50,080

3.20%,

1/11/2027

25,000

23,693

3.05%,

3/22/2027

130,000

122,396

1.15%,

8/13/2027

20,000

17,569

5.45%,

11/10/2027

520,000

523,578

4.63%,

1/12/2028

200,000

196,253

1.90%,

4/06/2028

20,000

17,685

5.25%,

9/11/2028

80,000

80,020

4.45%,

6/29/2029

70,000

67,663

5.55%,

11/20/2030

50,000

50,491

1.65%,

1/10/2031

100,000

79,447

5.10%,

3/21/2031

350,000

344,903

1.90%,

9/12/2031

168,000

133,304

72

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Cyclical

–

1.6%

(continued)

Tractor

Supply

Co.

,

5.25%

,

5/15/2033

15,000

14,663

United

Airlines

Pass-Through

Trust

Series

2013-1,

Class

A,

4.30%,

8/15/2025

26,416

25,765

Series

2020-1,

Class

B,

4.88%,

1/15/2026

161,280

158,157

Series

2018-1,

Class

AA,

3.50%,

3/01/2030

73,477

66,601

Series

2023-1,

Class

A,

5.80%,

1/15/2036

165,000

163,867

VF

Corp.

2.80%,

4/23/2027

10,000

8,950

2.95%,

4/23/2030

50,000

39,870

Walmart,

Inc.

3.05%,

7/08/2026

12,000

11,501

1.05%,

9/17/2026

(a)

65,000

59,242

5.88%,

4/05/2027

77,000

79,165

3.90%,

4/15/2028

15,000

14,461

1.50%,

9/22/2028

60,000

52,055

2.38%,

9/24/2029

3,000

2,640

4.00%,

4/15/2030

105,000

99,990

1.80%,

9/22/2031

81,000

65,270

4.10%,

4/15/2033

775,000

723,837

5.25%,

9/01/2035

70,000

70,713

3.95%,

6/28/2038

10,000

8,744

2.50%,

9/22/2041

100,000

67,771

4.05%,

6/29/2048

98,000

79,983

2.95%,

9/24/2049

200,000

132,291

2.65%,

9/22/2051

285,000

174,924

4.50%,

9/09/2052

129,000

112,007

4.50%,

4/15/2053

90,000

78,360

WarnerMedia

Holdings,

Inc.

6.41%,

3/15/2026

215,000

215,046

3.76%,

3/15/2027

220,000

207,297

4.05%,

3/15/2029

275,000

250,781

4.28%,

3/15/2032

35,000

30,171

5.05%,

3/15/2042

575,000

460,978

5.14%,

3/15/2052

255,000

195,211

5.39%,

3/15/2062

295,000

225,825

Whirlpool

Corp.

4.75%,

2/26/2029

(a)

145,000

139,627

4.70%,

5/14/2032

13,000

12,029

4.60%,

5/15/2050

(a)

50,000

38,500

WW

Grainger,

Inc.

,

4.20%

,

5/15/2047

90,000

73,400

28,064,509

Consumer,

Non-cyclical

–

4.4%

Abbott

Laboratories

3.88%,

9/15/2025

15,000

14,726

3.75%,

11/30/2026

95,000

91,902

1.15%,

1/30/2028

123,000

106,971

4.75%,

11/30/2036

345,000

326,649

6.00%,

4/01/2039

25,000

26,405

4.90%,

11/30/2046

214,000

196,424

AbbVie,

Inc.

3.60%,

5/14/2025

90,000

88,271

3.20%,

5/14/2026

75,000

71,927

2.95%,

11/21/2026

500,000

472,131

4.25%,

11/14/2028

200,000

192,746

3.20%,

11/21/2029

145,000

130,815

4.95%,

3/15/2031

500,000

490,637

4.50%,

5/14/2035

100,000

92,317

4.30%,

5/14/2036

472,000

424,568

4.05%,

11/21/2039

150,000

127,102

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

AbbVie,

Inc.

(continued)

4.40%,

11/06/2042

50,000

43,080

5.35%,

3/15/2044

45,000

43,461

4.85%,

6/15/2044

195,000

176,664

4.75%,

3/15/2045

125,000

111,397

4.70%,

5/14/2045

269,000

237,955

4.25%,

11/21/2049

382,000

311,958

Adventist

Health

System/West

,

3.63%

,

3/01/2049

82,000

57,328

Advocate

Health

&

Hospitals

Corp.

3.83%,

8/15/2028

50,000

47,224

Series

2020,

2.21%,

6/15/2030

15,000

12,633

Aetna,

Inc.

6.63%,

6/15/2036

50,000

52,555

4.75%,

3/15/2044

35,000

28,986

3.88%,

8/15/2047

58,000

41,556

Agilent

Technologies,

Inc.

2.75%,

9/15/2029

100,000

87,996

2.30%,

3/12/2031

47,000

38,563

Ahold

Finance

USA

LLC

,

6.88%

,

5/01/2029

25,000

26,482

AHS

Hospital

Corp.

5.02%,

7/01/2045

85,000

78,750

Series

2021,

2.78%,

7/01/2051

280,000

171,237

Allina

Health

System

,

Series

2019

,

3.89%

,

4/15/2049

15,000

11,323

Altria

Group,

Inc.

2.35%,

5/06/2025

60,000

58,025

4.40%,

2/14/2026

10,000

9,796

2.63%,

9/16/2026

31,000

29,028

3.40%,

5/06/2030

150,000

132,974

2.45%,

2/04/2032

120,000

94,741

5.80%,

2/14/2039

75,000

73,125

3.40%,

2/04/2041

215,000

150,238

4.25%,

8/09/2042

270,000

210,373

4.50%,

5/02/2043

40,000

32,045

3.88%,

9/16/2046

265,000

187,328

5.95%,

2/14/2049

(a)

180,000

173,471

4.45%,

5/06/2050

172,000

129,725

4.00%,

2/04/2061

50,000

33,955

American

University

(The)

,

Series

2019

,

3.67%

,

4/01/2049

25,000

19,049

Amgen,

Inc.

5.51%,

3/02/2026

150,000

149,618

2.60%,

8/19/2026

127,000

119,317

2.20%,

2/21/2027

60,000

55,031

5.15%,

3/02/2028

240,000

237,881

3.00%,

2/22/2029

180,000

162,968

4.05%,

8/18/2029

250,000

235,033

2.45%,

2/21/2030

25,000

21,336

5.25%,

3/02/2030

197,000

195,337

2.30%,

2/25/2031

190,000

156,632

2.00%,

1/15/2032

250,000

196,378

3.35%,

2/22/2032

135,000

117,143

4.20%,

3/01/2033

286,000

258,945

5.60%,

3/02/2043

612,000

590,323

4.40%,

5/01/2045

75,000

61,525

4.56%,

6/15/2048

137,000

113,182

3.38%,

2/21/2050

200,000

136,499

4.66%,

6/15/2051

65,000

54,055

73

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Amgen,

Inc.

(continued)

3.00%,

1/15/2052

60,000

37,912

4.20%,

2/22/2052

90,000

69,312

5.65%,

3/02/2053

134,000

128,891

2.77%,

9/01/2053

215,000

124,820

4.40%,

2/22/2062

75,000

57,551

5.75%,

3/02/2063

215,000

205,156

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

4.70%,

2/01/2036

225,000

209,482

4.90%,

2/01/2046

736,000

663,019

Anheuser-Busch

InBev

Finance,

Inc.

,

4.90%

,

2/01/2046

25,000

22,204

Anheuser-Busch

InBev

Worldwide,

Inc.

3.50%,

6/01/2030

160,000

145,767

4.90%,

1/23/2031

75,000

74,027

4.38%,

4/15/2038

775,000

686,078

8.20%,

1/15/2039

25,000

31,095

5.45%,

1/23/2039

25,000

24,554

8.00%,

11/15/2039

25,000

30,486

4.35%,

6/01/2040

100,000

86,189

4.95%,

1/15/2042

25,000

22,940

4.60%,

4/15/2048

35,000

30,197

5.55%,

1/23/2049

100,000

98,504

4.50%,

6/01/2050

150,000

128,916

5.80%,

1/23/2059

545,000

553,599

Archer-Daniels-Midland

Co.

2.50%,

8/11/2026

25,000

23,465

4.54%,

3/26/2042

87,000

74,934

3.75%,

9/15/2047

25,000

18,160

Ascension

Health

Series

B,

2.53%,

11/15/2029

45,000

39,306

3.95%,

11/15/2046

26,000

20,809

4.85%,

11/15/2053

25,000

22,535

AstraZeneca

Finance

LLC

1.20%,

5/28/2026

75,000

68,985

4.80%,

2/26/2027

250,000

247,024

4.88%,

3/03/2028

175,000

172,898

1.75%,

5/28/2028

160,000

139,861

AstraZeneca

PLC

3.38%,

11/16/2025

785,000

761,855

0.70%,

4/08/2026

150,000

137,491

3.13%,

6/12/2027

90,000

84,740

6.45%,

9/15/2037

125,000

135,717

4.00%,

9/18/2042

50,000

40,941

4.38%,

11/16/2045

75,000

63,122

Avery

Dennison

Corp.

,

4.88%

,

12/06/2028

130,000

126,532

Baptist

Healthcare

System

Obligated

Group

,

Series

20B

,

3.54%

,

8/15/2050

117,000

81,434

BAT

Capital

Corp.

3.22%,

9/06/2026

40,000

37,858

4.70%,

4/02/2027

20,000

19,506

3.56%,

8/15/2027

14,000

13,132

2.26%,

3/25/2028

25,000

21,975

2.73%,

3/25/2031

700,000

578,343

4.39%,

8/15/2037

20,000

16,414

3.73%,

9/25/2040

50,000

36,200

4.54%,

8/15/2047

120,000

89,630

4.76%,

9/06/2049

65,000

50,034

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

BAT

Capital

Corp.

(continued)

5.28%,

4/02/2050

50,000

41,379

5.65%,

3/16/2052

200,000

174,120

7.08%,

8/02/2053

40,000

41,903

BAT

International

Finance

PLC

1.67%,

3/25/2026

30,000

27,856

5.93%,

2/02/2029

270,000

272,501

Baxalta,

Inc.

,

4.00%

,

6/23/2025

30,000

29,432

Baxter

International,

Inc.

1.92%,

2/01/2027

170,000

154,082

2.27%,

12/01/2028

30,000

25,964

2.54%,

2/01/2032

125,000

100,089

3.13%,

12/01/2051

25,000

15,350

Becton,

Dickinson

&

Co.

3.70%,

6/06/2027

135,000

128,144

4.69%,

2/13/2028

435,000

422,973

2.82%,

5/20/2030

20,000

17,217

1.96%,

2/11/2031

120,000

95,964

4.67%,

6/06/2047

85,000

72,034

3.79%,

5/20/2050

28,000

20,521

Biogen,

Inc.

4.05%,

9/15/2025

210,000

205,233

2.25%,

5/01/2030

75,000

61,927

5.20%,

9/15/2045

45,000

40,237

3.15%,

5/01/2050

175,000

109,820

BIO-RAD

Laboratories,

Inc.

3.30%,

3/15/2027

15,000

14,095

3.70%,

3/15/2032

100,000

86,859

Block

Financial

LLC

,

5.25%

,

10/01/2025

20,000

19,789

Bon

Secours

Mercy

Health,

Inc.

3.46%,

6/01/2030

220,000

199,410

Series

20-2,

2.10%,

6/01/2031

120,000

95,738

Series

20-2,

3.21%,

6/01/2050

25,000

16,504

Boston

Scientific

Corp.

1.90%,

6/01/2025

50,000

48,070

2.65%,

6/01/2030

25,000

21,511

4.70%,

3/01/2049

80,000

69,442

Bristol-Myers

Squibb

Co.

4.95%,

2/20/2026

300,000

298,031

3.20%,

6/15/2026

200,000

191,536

1.13%,

11/13/2027

150,000

130,616

3.90%,

2/20/2028

100,000

95,492

4.90%,

2/22/2029

200,000

197,102

1.45%,

11/13/2030

10,000

7,890

5.10%,

2/22/2031

200,000

196,888

2.95%,

3/15/2032

100,000

84,547

5.20%,

2/22/2034

200,000

195,972

4.13%,

6/15/2039

250,000

211,046

2.35%,

11/13/2040

20,000

12,913

3.55%,

3/15/2042

510,000

388,144

4.35%,

11/15/2047

100,000

81,342

4.55%,

2/20/2048

28,000

23,535

4.25%,

10/26/2049

265,000

212,302

2.55%,

11/13/2050

(a)

125,000

71,983

3.70%,

3/15/2052

190,000

136,466

3.90%,

3/15/2062

110,000

78,076

5.65%,

2/22/2064

150,000

143,756

74

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Brown

University,

in

Providence

in

the

State

of

Rhode

Island

&

Providence

Plantations

,

Series

A

,

2.92%

,

9/01/2050

230,000

149,111

Bunge

Ltd.

Finance

Corp.

1.63%,

8/17/2025

65,000

61,719

3.75%,

9/25/2027

109,000

103,080

California

Endowment

(The)

,

Series

2021

,

2.50%

,

4/01/2051

100,000

58,993

California

Institute

of

Technology

,

4.70%

,

11/01/2111

35,000

28,646

Campbell

Soup

Co.

5.20%,

3/21/2029

400,000

394,262

2.38%,

4/24/2030

29,000

24,385

5.40%,

3/21/2034

400,000

389,600

3.13%,

4/24/2050

15,000

9,407

Cardinal

Health,

Inc.

3.75%,

9/15/2025

19,000

18,518

4.60%,

3/15/2043

25,000

20,807

4.50%,

11/15/2044

110,000

89,239

4.90%,

9/15/2045

90,000

76,888

Cencora,

Inc.

3.45%,

12/15/2027

50,000

46,844

2.80%,

5/15/2030

75,000

64,990

4.30%,

12/15/2047

50,000

40,957

Centene

Corp.

4.25%,

12/15/2027

190,000

179,124

2.45%,

7/15/2028

275,000

240,068

3.00%,

10/15/2030

50,000

41,873

2.50%,

3/01/2031

20,000

16,078

2.63%,

8/01/2031

165,000

132,252

Children's

Hospital

,

Series

2020

,

2.93%

,

7/15/2050

50,000

31,208

Children's

Hospital

of

Philadelphia

(The)

,

Series

2020

,

2.70%

,

7/01/2050

10,000

6,170

Cigna

Group

(The)

4.13%,

11/15/2025

155,000

151,808

4.50%,

2/25/2026

69,000

67,834

1.25%,

3/15/2026

27,000

24,947

3.40%,

3/01/2027

105,000

99,451

3.05%,

10/15/2027

50,000

46,325

4.38%,

10/15/2028

25,000

23,905

2.40%,

3/15/2030

131,000

110,452

2.38%,

3/15/2031

322,000

263,115

5.40%,

3/15/2033

250,000

245,575

5.25%,

2/15/2034

200,000

192,863

3.88%,

10/15/2047

150,000

110,782

3.40%,

3/15/2050

120,000

79,898

3.40%,

3/15/2051

125,000

82,886

5.60%,

2/15/2054

300,000

282,888

City

of

Hope

(The)

,

Series

2013

,

5.62%

,

11/15/2043

135,000

128,921

Clorox

Co.

(The)

3.10%,

10/01/2027

135,000

125,703

1.80%,

5/15/2030

80,000

65,235

4.60%,

5/01/2032

75,000

71,026

Coca-Cola

Co.

(The)

1.45%,

6/01/2027

363,000

326,675

1.65%,

6/01/2030

200,000

164,230

2.00%,

3/05/2031

40,000

32,894

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Coca-Cola

Co.

(The)

(continued)

1.38%,

3/15/2031

55,000

43,313

2.25%,

1/05/2032

(a)

85,000

70,172

2.50%,

6/01/2040

120,000

82,429

2.60%,

6/01/2050

350,000

213,008

3.00%,

3/05/2051

30,000

19,887

2.50%,

3/15/2051

135,000

79,670

Coca-Cola

Femsa

SAB

de

CV

,

2.75%

,

1/22/2030

50,000

43,202

Colgate-Palmolive

Co.

3.10%,

8/15/2027

250,000

236,142

4.60%,

3/01/2028

50,000

49,490

4.60%,

3/01/2033

35,000

33,814

3.70%,

8/01/2047

125,000

97,189

CommonSpirit

Health

6.07%,

11/01/2027

10,000

10,199

3.35%,

10/01/2029

60,000

54,074

2.78%,

10/01/2030

100,000

84,755

3.91%,

10/01/2050

145,000

106,470

Community

Health

Network,

Inc.

,

Series

20-A

,

3.10%

,

5/01/2050

65,000

41,398

ConAgra

Brands,

Inc.

4.60%,

11/01/2025

50,000

49,118

5.30%,

10/01/2026

10,000

9,930

5.40%,

11/01/2048

55,000

49,364

Constellation

Brands,

Inc.

4.40%,

11/15/2025

120,000

117,721

4.75%,

12/01/2025

40,000

39,416

4.65%,

11/15/2028

50,000

48,340

3.15%,

8/01/2029

25,000

22,310

2.25%,

8/01/2031

150,000

120,036

4.50%,

5/09/2047

105,000

85,100

5.25%,

11/15/2048

180,000

162,670

3.75%,

5/01/2050

65,000

46,621

Cottage

Health

Obligated

Group

,

Series

2020

,

3.30%

,

11/01/2049

25,000

17,288

CVS

Health

Corp.

2.88%,

6/01/2026

72,000

68,177

3.00%,

8/15/2026

10,000

9,458

1.30%,

8/21/2027

270,000

236,314

4.30%,

3/25/2028

23,000

22,060

3.25%,

8/15/2029

307,000

275,350

5.13%,

2/21/2030

50,000

48,912

3.75%,

4/01/2030

15,000

13,615

5.25%,

1/30/2031

200,000

196,278

1.88%,

2/28/2031

70,000

55,454

2.13%,

9/15/2031

150,000

118,868

5.25%,

2/21/2033

138,000

133,304

5.30%,

6/01/2033

1,000,000

967,760

4.88%,

7/20/2035

100,000

91,879

4.78%,

3/25/2038

120,000

105,605

6.13%,

9/15/2039

35,000

34,642

4.13%,

4/01/2040

20,000

15,967

5.13%,

7/20/2045

53,000

45,962

5.05%,

3/25/2048

165,000

140,801

4.25%,

4/01/2050

200,000

151,778

5.63%,

2/21/2053

260,000

239,908

5.88%,

6/01/2053

25,000

23,840

75

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Danaher

Corp.

2.60%,

10/01/2050

(a)

94,000

55,774

2.80%,

12/10/2051

95,000

58,213

DENTSPLY

SIRONA,

Inc.

,

3.25%

,

6/01/2030

50,000

43,116

DH

Europe

Finance

II

Sarl

,

3.25%

,

11/15/2039

129,000

98,728

Diageo

Capital

PLC

5.38%,

10/05/2026

200,000

200,153

5.63%,

10/05/2033

200,000

203,617

Dignity

Health

4.50%,

11/01/2042

125,000

102,423

5.27%,

11/01/2064

70,000

61,779

Duke

University

,

Series

2020

,

2.83%

,

10/01/2055

25,000

15,592

Elevance

Health,

Inc.

1.50%,

3/15/2026

200,000

185,842

4.10%,

3/01/2028

15,000

14,365

2.88%,

9/15/2029

200,000

176,342

2.25%,

5/15/2030

125,000

104,306

2.55%,

3/15/2031

20,000

16,621

5.50%,

10/15/2032

50,000

49,788

4.75%,

2/15/2033

750,000

708,069

6.38%,

6/15/2037

10,000

10,439

4.63%,

5/15/2042

35,000

30,323

4.65%,

8/15/2044

89,000

75,724

4.38%,

12/01/2047

48,000

38,779

4.55%,

3/01/2048

133,000

110,307

3.60%,

3/15/2051

50,000

35,092

Eli

Lilly

&

Co.

4.50%,

2/09/2027

200,000

197,104

5.50%,

3/15/2027

25,000

25,365

3.10%,

5/15/2027

65,000

61,386

3.38%,

3/15/2029

165,000

153,461

4.70%,

2/09/2034

100,000

95,766

2.25%,

5/15/2050

150,000

85,129

4.88%,

2/27/2053

70,000

63,934

5.00%,

2/09/2054

200,000

186,207

2.50%,

9/15/2060

190,000

103,237

5.10%,

2/09/2064

200,000

185,953

Emory

University

,

Series

2020

,

2.14%

,

9/01/2030

15,000

12,522

Equifax,

Inc.

2.60%,

12/15/2025

70,000

66,564

5.10%,

6/01/2028

10,000

9,824

2.35%,

9/15/2031

100,000

80,174

Estee

Lauder

Cos.,

Inc.

(The)

3.15%,

3/15/2027

15,000

14,195

4.38%,

5/15/2028

(a)

15,000

14,582

4.65%,

5/15/2033

(a)

10,000

9,491

4.38%,

6/15/2045

100,000

82,561

3.13%,

12/01/2049

60,000

39,046

5.15%,

5/15/2053

74,000

68,413

Flowers

Foods,

Inc.

,

2.40%

,

3/15/2031

65,000

52,795

Fomento

Economico

Mexicano

SAB

de

CV

,

3.50%

,

1/16/2050

140,000

96,804

Ford

Foundation

(The)

,

Series

2020

,

2.42%

,

6/01/2050

50,000

29,186

GE

HealthCare

Technologies,

Inc.

5.60%,

11/15/2025

100,000

99,861

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

GE

HealthCare

Technologies,

Inc.

(continued)

5.65%,

11/15/2027

250,000

251,258

5.86%,

3/15/2030

245,000

248,210

6.38%,

11/22/2052

50,000

53,369

General

Mills,

Inc.

3.20%,

2/10/2027

25,000

23,568

4.20%,

4/17/2028

25,000

23,933

5.50%,

10/17/2028

10,000

10,027

2.88%,

4/15/2030

10,000

8,703

4.95%,

3/29/2033

(a)

50,000

47,876

George

Washington

University

(The)

,

Series

2014

,

4.30%

,

9/15/2044

20,000

16,917

Georgetown

University

(The)

Series

B,

4.32%,

4/01/2049

20,000

16,695

Series

20A,

2.94%,

4/01/2050

200,000

129,982

Gilead

Sciences,

Inc.

3.65%,

3/01/2026

85,000

82,351

2.95%,

3/01/2027

50,000

46,975

1.65%,

10/01/2030

25,000

20,063

5.25%,

10/15/2033

20,000

19,711

2.60%,

10/01/2040

1,050,000

702,294

4.80%,

4/01/2044

100,000

87,875

4.50%,

2/01/2045

35,000

29,426

4.75%,

3/01/2046

257,000

222,782

2.80%,

10/01/2050

65,000

39,607

5.55%,

10/15/2053

80,000

77,734

GlaxoSmithKline

Capital,

Inc.

3.88%,

5/15/2028

50,000

47,826

5.38%,

4/15/2034

200,000

205,833

6.38%,

5/15/2038

270,000

291,890

Global

Payments,

Inc.

1.20%,

3/01/2026

116,000

107,099

2.15%,

1/15/2027

30,000

27,459

4.95%,

8/15/2027

25,000

24,503

3.20%,

8/15/2029

128,000

112,883

5.30%,

8/15/2029

12,000

11,727

5.40%,

8/15/2032

40,000

38,623

4.15%,

8/15/2049

65,000

47,910

5.95%,

8/15/2052

135,000

129,008

GXO

Logistics,

Inc.

1.65%,

7/15/2026

242,000

220,712

2.65%,

7/15/2031

50,000

39,637

Hackensack

Meridian

Health,

Inc.

Series

2020,

2.68%,

9/01/2041

45,000

30,272

Series

2020,

2.88%,

9/01/2050

25,000

16,002

4.50%,

7/01/2057

50,000

41,595

Haleon

US

Capital

LLC

,

3.38%

,

3/24/2029

278,000

253,575

HCA,

Inc.

5.88%,

2/15/2026

96,000

96,040

5.25%,

6/15/2026

224,000

221,643

4.50%,

2/15/2027

131,000

126,964

5.20%,

6/01/2028

15,000

14,740

5.63%,

9/01/2028

101,000

100,615

5.88%,

2/01/2029

200,000

201,103

4.13%,

6/15/2029

150,000

139,313

3.63%,

3/15/2032

270,000

232,054

5.50%,

6/01/2033

20,000

19,436

4.38%,

3/15/2042

10,000

7,977

5.50%,

6/15/2047

95,000

85,239

76

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

HCA,

Inc.

(continued)

5.25%,

6/15/2049

584,000

504,922

4.63%,

3/15/2052

85,000

66,599

Hershey

Co.

(The)

,

3.13%

,

11/15/2049

50,000

33,656

Hormel

Foods

Corp.

1.80%,

6/11/2030

40,000

32,754

3.05%,

6/03/2051

30,000

19,140

Humana,

Inc.

1.35%,

2/03/2027

180,000

160,675

3.95%,

3/15/2027

150,000

143,827

5.75%,

12/01/2028

50,000

50,222

3.70%,

3/23/2029

74,000

68,143

3.13%,

8/15/2029

115,000

102,323

2.15%,

2/03/2032

105,000

81,619

5.88%,

3/01/2033

95,000

94,941

5.95%,

3/15/2034

50,000

50,063

4.63%,

12/01/2042

28,000

23,214

4.80%,

3/15/2047

30,000

24,884

3.95%,

8/15/2049

65,000

47,731

5.50%,

3/15/2053

141,000

128,409

5.75%,

4/15/2054

200,000

188,052

Illumina,

Inc.

5.80%,

12/12/2025

115,000

114,831

2.55%,

3/23/2031

150,000

120,792

Indiana

University

Health,

Inc.

Obligated

Group

,

3.97%

,

11/01/2048

337,000

267,897

Inova

Health

System

Foundation

,

4.07%

,

5/15/2052

25,000

19,940

Integris

Baptist

Medical

Center,

Inc.

,

Series

A

,

3.88%

,

8/15/2050

25,000

17,989

J.M.

Smucker

Co.

(The)

5.90%,

11/15/2028

15,000

15,288

2.38%,

3/15/2030

88,000

74,511

6.20%,

11/15/2033

20,000

20,669

2.75%,

9/15/2041

115,000

74,111

6.50%,

11/15/2043

15,000

15,573

6.50%,

11/15/2053

20,000

21,000

JBS

USA

Lux

SA

/

JBS

USA

Food

Co.

/

JBS

Luxembourg

Sarl

6.75%,

3/15/2034

(b)

35,000

35,666

7.25%,

11/15/2053

(b)

90,000

92,536

JBS

USA

Lux

SA

/

JBS

USA

Food

Co.

/

JBS

USA

Finance,

Inc.

2.50%,

1/15/2027

25,000

22,885

5.13%,

2/01/2028

20,000

19,437

3.00%,

2/02/2029

10,000

8,701

5.50%,

1/15/2030

100,000

96,570

3.75%,

12/01/2031

10,000

8,430

3.00%,

5/15/2032

20,000

15,836

5.75%,

4/01/2033

100,000

95,603

4.38%,

2/02/2052

210,000

145,360

Johns

Hopkins

University

,

Series

A

,

2.81%

,

1/01/2060

(a)

25,000

15,536

Johnson

&

Johnson

2.45%,

3/01/2026

160,000

152,698

2.95%,

3/03/2027

255,000

241,704

2.90%,

1/15/2028

190,000

177,438

1.30%,

9/01/2030

(a)

305,000

245,832

4.38%,

12/05/2033

50,000

48,158

3.55%,

3/01/2036

133,000

113,369

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Johnson

&

Johnson

(continued)

3.63%,

3/03/2037

135,000

114,322

5.95%,

8/15/2037

75,000

79,909

3.40%,

1/15/2038

275,000

225,200

2.10%,

9/01/2040

300,000

194,653

3.70%,

3/01/2046

450,000

351,639

3.50%,

1/15/2048

85,000

63,535

Kaiser

Foundation

Hospitals

3.15%,

5/01/2027

70,000

66,043

4.15%,

5/01/2047

140,000

112,823

Series

2021,

3.00%,

6/01/2051

5,000

3,239

Kellanova

3.25%,

4/01/2026

225,000

215,855

4.30%,

5/15/2028

77,000

73,997

2.10%,

6/01/2030

25,000

20,758

5.25%,

3/01/2033

60,000

58,352

4.50%,

4/01/2046

30,000

24,583

Kenvue,

Inc.

5.35%,

3/22/2026

15,000

15,010

5.05%,

3/22/2028

120,000

119,622

5.00%,

3/22/2030

230,000

227,291

4.90%,

3/22/2033

215,000

208,231

5.10%,

3/22/2043

95,000

89,608

5.05%,

3/22/2053

105,000

96,870

Keurig

Dr

Pepper,

Inc.

4.42%,

5/25/2025

50,000

49,384

3.40%,

11/15/2025

61,000

59,008

2.55%,

9/15/2026

185,000

172,939

4.60%,

5/25/2028

50,000

48,509

3.95%,

4/15/2029

235,000

220,239

3.20%,

5/01/2030

28,000

24,774

5.30%,

3/15/2034

200,000

194,538

4.50%,

11/15/2045

47,000

38,948

3.80%,

5/01/2050

50,000

36,474

4.50%,

4/15/2052

(a)

170,000

138,471

Kimberly-Clark

Corp.

3.05%,

8/15/2025

17,000

16,503

1.05%,

9/15/2027

45,000

39,346

3.90%,

5/04/2047

95,000

73,217

Kraft

Heinz

Foods

Co.

3.00%,

6/01/2026

125,000

119,267

3.88%,

5/15/2027

110,000

105,469

4.25%,

3/01/2031

143,000

133,334

6.88%,

1/26/2039

65,000

70,805

5.00%,

6/04/2042

65,000

57,963

5.20%,

7/15/2045

150,000

135,158

4.38%,

6/01/2046

150,000

120,269

4.88%,

10/01/2049

85,000

72,947

5.50%,

6/01/2050

15,000

14,056

Kroger

Co.

(The)

3.50%,

2/01/2026

40,000

38,629

2.65%,

10/15/2026

25,000

23,458

3.70%,

8/01/2027

124,000

117,756

1.70%,

1/15/2031

175,000

137,665

3.95%,

1/15/2050

175,000

131,099

Laboratory

Corp.

of

America

Holdings

1.55%,

6/01/2026

110,000

101,203

2.95%,

12/01/2029

50,000

43,861

77

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Laboratory

Corp.

of

America

Holdings

(continued)

4.70%,

2/01/2045

45,000

38,259

Leland

Stanford

Junior

University

(The)

3.65%,

5/01/2048

50,000

39,645

2.41%,

6/01/2050

50,000

30,196

Mass

General

Brigham,

Inc.

,

Series

2020

,

3.19%

,

7/01/2049

90,000

61,476

Massachusetts

Institute

of

Technology

3.96%,

7/01/2038

25,000

21,998

3.07%,

4/01/2052

200,000

136,860

Mayo

Clinic

,

Series

2016

,

4.13%

,

11/15/2052

70,000

56,880

McCormick

&

Co.,

Inc.

0.90%,

2/15/2026

40,000

36,896

1.85%,

2/15/2031

15,000

11,921

4.95%,

4/15/2033

(a)

10,000

9,563

McKesson

Corp.

0.90%,

12/03/2025

100,000

92,959

1.30%,

8/15/2026

70,000

63,825

4.90%,

7/15/2028

40,000

39,387

5.10%,

7/15/2033

10,000

9,741

Mead

Johnson

Nutrition

Co.

,

5.90%

,

11/01/2039

20,000

19,837

MedStar

Health,

Inc.

,

Series

20A

,

3.63%

,

8/15/2049

25,000

18,122

Medtronic,

Inc.

4.38%,

3/15/2035

350,000

321,687

4.63%,

3/15/2045

90,000

79,912

Memorial

Health

Services

,

3.45%

,

11/01/2049

50,000

35,641

Memorial

Sloan-Kettering

Cancer

Center

4.13%,

7/01/2052

5,000

4,014

Series

2015,

4.20%,

7/01/2055

50,000

40,290

Merck

&

Co.,

Inc.

1.70%,

6/10/2027

30,000

27,064

4.05%,

5/17/2028

40,000

38,629

1.90%,

12/10/2028

30,000

26,151

3.40%,

3/07/2029

50,000

46,389

4.30%,

5/17/2030

75,000

71,721

1.45%,

6/24/2030

149,000

119,893

2.15%,

12/10/2031

20,000

16,225

4.50%,

5/17/2033

(a)

75,000

70,900

3.90%,

3/07/2039

120,000

100,940

4.15%,

5/18/2043

265,000

220,863

4.90%,

5/17/2044

15,000

13,754

3.70%,

2/10/2045

43,000

32,968

2.45%,

6/24/2050

175,000

101,340

2.75%,

12/10/2051

120,000

73,195

5.00%,

5/17/2053

136,000

124,933

2.90%,

12/10/2061

260,000

151,357

Molson

Coors

Beverage

Co.

3.00%,

7/15/2026

175,000

166,002

5.00%,

5/01/2042

40,000

35,749

Mondelez

International,

Inc.

1.50%,

5/04/2025

45,000

43,169

2.63%,

3/17/2027

30,000

27,861

2.75%,

4/13/2030

50,000

43,335

2.63%,

9/04/2050

(a)

130,000

76,795

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Montefiore

Obligated

Group

Series

18-C,

5.25%,

11/01/2048

35,000

25,491

4.29%,

9/01/2050

100,000

59,357

Moody's

Corp.

3.25%,

1/15/2028

150,000

140,587

4.25%,

8/08/2032

100,000

92,174

4.88%,

12/17/2048

75,000

66,254

Mount

Nittany

Medical

Center

Obligated

Group

,

Series

2022

,

3.80%

,

11/15/2052

25,000

18,567

Mount

Sinai

Hospital

Series

2017,

3.98%,

7/01/2048

20,000

15,483

Series

2019,

3.74%,

7/01/2049

185,000

132,965

Mylan,

Inc.

4.55%,

4/15/2028

60,000

57,018

5.20%,

4/15/2048

140,000

110,282

New

York

&

Presbyterian

Hospital

(The)

4.02%,

8/01/2045

10,000

8,127

Series

2019,

3.95%,

8/01/2119

60,000

41,195

Northwell

Healthcare,

Inc.

3.98%,

11/01/2046

25,000

19,188

4.26%,

11/01/2047

50,000

39,193

3.81%,

11/01/2049

50,000

35,689

Northwestern

University

4.64%,

12/01/2044

65,000

59,333

Series

2017,

3.66%,

12/01/2057

125,000

92,712

Novant

Health,

Inc.

,

2.64%

,

11/01/2036

92,000

67,580

Novartis

Capital

Corp.

2.00%,

2/14/2027

50,000

46,144

3.10%,

5/17/2027

150,000

141,900

2.20%,

8/14/2030

105,000

88,775

4.40%,

5/06/2044

70,000

60,813

NY

Society

For

Relief

of

Ruptured

&

Crippled

Maintaining

Hosp

Special

Surgery

,

Series

2020

,

2.67%

,

10/01/2050

200,000

120,874

NYU

Langone

Hospitals

4.78%,

7/01/2044

75,000

67,117

Series

2020,

3.38%,

7/01/2055

100,000

66,829

Ochsner

LSU

Health

System

of

North

Louisiana

,

Series

2021

,

2.51%

,

5/15/2031

100,000

68,037

Ohiohealth

Corp.

2.83%,

11/15/2041

50,000

35,015

Series

2020,

3.04%,

11/15/2050

30,000

20,608

Orlando

Health

Obligated

Group

4.09%,

10/01/2048

125,000

99,244

3.33%,

10/01/2050

100,000

69,517

PayPal

Holdings,

Inc.

2.65%,

10/01/2026

55,000

51,671

2.85%,

10/01/2029

100,000

88,754

4.40%,

6/01/2032

(a)

59,000

55,531

3.25%,

6/01/2050

150,000

100,294

5.25%,

6/01/2062

50,000

45,110

PeaceHealth

Obligated

Group

Series

2020,

1.38%,

11/15/2025

15,000

13,961

Series

2018,

4.79%,

11/15/2048

85,000

71,576

Series

2020,

3.22%,

11/15/2050

12,000

7,613

PepsiCo,

Inc.

3.50%,

7/17/2025

25,000

24,456

5.25%,

11/10/2025

50,000

50,047

78

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

PepsiCo,

Inc.

(continued)

4.55%,

2/13/2026

(a)

167,000

165,233

2.85%,

2/24/2026

25,000

24,005

2.38%,

10/06/2026

16,000

14,995

5.13%,

11/10/2026

50,000

49,979

2.63%,

3/19/2027

40,000

37,333

3.00%,

10/15/2027

85,000

79,380

3.60%,

2/18/2028

65,000

61,889

7.00%,

3/01/2029

113,000

122,437

1.40%,

2/25/2031

68,000

53,613

3.50%,

3/19/2040

20,000

15,765

3.60%,

8/13/2042

25,000

19,327

3.45%,

10/06/2046

50,000

36,667

2.88%,

10/15/2049

305,000

197,111

2.75%,

10/21/2051

180,000

111,341

4.20%,

7/18/2052

75,000

61,303

4.65%,

2/15/2053

100,000

88,555

Pfizer

Investment

Enterprises

Pte

Ltd.

4.65%,

5/19/2025

50,000

49,615

4.45%,

5/19/2026

50,000

49,142

4.45%,

5/19/2028

490,000

475,391

4.65%,

5/19/2030

50,000

48,341

4.75%,

5/19/2033

85,000

81,045

5.11%,

5/19/2043

50,000

46,591

5.30%,

5/19/2053

850,000

794,911

5.34%,

5/19/2063

70,000

64,156

Pfizer,

Inc.

3.60%,

9/15/2028

130,000

122,852

3.45%,

3/15/2029

25,000

23,247

2.63%,

4/01/2030

50,000

43,377

1.70%,

5/28/2030

70,000

57,350

4.00%,

12/15/2036

139,000

121,079

4.10%,

9/15/2038

500,000

431,152

2.55%,

5/28/2040

125,000

84,667

5.60%,

9/15/2040

200,000

198,631

4.30%,

6/15/2043

20,000

16,872

4.13%,

12/15/2046

20,000

16,152

4.00%,

3/15/2049

25,000

19,675

Pharmacia

LLC

,

6.60%

,

12/01/2028

50,000

52,569

Philip

Morris

International,

Inc.

3.38%,

8/11/2025

10,000

9,743

2.75%,

2/25/2026

50,000

47,690

0.88%,

5/01/2026

74,000

67,674

5.13%,

11/17/2027

90,000

89,156

4.88%,

2/15/2028

365,000

358,804

3.13%,

3/02/2028

40,000

36,883

5.25%,

9/07/2028

10,000

9,951

3.38%,

8/15/2029

40,000

36,439

2.10%,

5/01/2030

100,000

82,785

5.38%,

2/15/2033

750,000

734,976

4.38%,

11/15/2041

140,000

115,540

3.88%,

8/21/2042

101,000

77,120

4.13%,

3/04/2043

90,000

70,973

4.88%,

11/15/2043

100,000

86,916

Piedmont

Healthcare,

Inc.

Series

2032,

2.04%,

1/01/2032

50,000

39,444

2.86%,

1/01/2052

30,000

18,468

Pilgrim's

Pride

Corp.

4.25%,

4/15/2031

45,000

39,829

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Pilgrim’s

Pride

Corp.

(continued)

3.50%,

3/01/2032

300,000

247,606

6.25%,

7/01/2033

15,000

14,912

Procter

&

Gamble

Co.

(The)

2.80%,

3/25/2027

35,000

32,977

2.85%,

8/11/2027

50,000

46,804

3.00%,

3/25/2030

535,000

481,909

1.20%,

10/29/2030

413,000

327,429

1.95%,

4/23/2031

150,000

123,871

3.50%,

10/25/2047

50,000

37,688

Providence

St.

Joseph

Health

Obligated

Group

Series

H,

2.75%,

10/01/2026

80,000

74,465

Series

19A,

2.53%,

10/01/2029

110,000

95,006

Series

I,

3.74%,

10/01/2047

133,000

97,771

Series

A,

3.93%,

10/01/2048

100,000

76,080

Quest

Diagnostics,

Inc.

3.45%,

6/01/2026

65,000

62,368

4.20%,

6/30/2029

17,000

16,168

Regeneron

Pharmaceuticals,

Inc.

1.75%,

9/15/2030

65,000

51,833

2.80%,

9/15/2050

85,000

49,827

Relx

Capital,

Inc.

,

4.00%

,

3/18/2029

145,000

136,980

Revvity,

Inc.

3.30%,

9/15/2029

50,000

44,661

2.55%,

3/15/2031

215,000

176,532

3.63%,

3/15/2051

25,000

16,562

Reynolds

American,

Inc.

5.70%,

8/15/2035

500,000

479,882

6.15%,

9/15/2043

25,000

23,949

5.85%,

8/15/2045

235,000

211,445

Rockefeller

Foundation

(The)

,

Series

2020

,

2.49%

,

10/01/2050

50,000

30,095

Royalty

Pharma

PLC

1.20%,

9/02/2025

180,000

169,508

2.20%,

9/02/2030

40,000

32,494

3.30%,

9/02/2040

400,000

281,704

3.55%,

9/02/2050

70,000

45,148

S&P

Global,

Inc.

2.45%,

3/01/2027

195,000

180,456

2.70%,

3/01/2029

180,000

160,485

4.25%,

5/01/2029

120,000

114,795

2.50%,

12/01/2029

195,000

169,087

1.25%,

8/15/2030

10,000

7,907

2.90%,

3/01/2032

50,000

42,337

5.25%,

9/15/2033

(b)

15,000

14,866

3.25%,

12/01/2049

183,000

125,037

3.90%,

3/01/2062

100,000

72,608

Seattle

Children's

Hospital

,

Series

2021

,

2.72%

,

10/01/2050

25,000

15,316

Sharp

HealthCare

,

Series

20B

,

2.68%

,

8/01/2050

45,000

26,775

Shire

Acquisitions

Investments

Ireland

DAC

,

3.20%

,

9/23/2026

205,000

194,680

Smith

&

Nephew

PLC

,

2.03%

,

10/14/2030

45,000

36,224

SSM

Health

Care

Corp.

,

4.89%

,

6/01/2028

250,000

245,137

Stanford

Health

Care

,

Series

2018

,

3.80%

,

11/15/2048

40,000

30,672

STERIS

Irish

FinCo

UnLtd.

Co.

2.70%,

3/15/2031

150,000

124,777

79

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

STERIS

Irish

FinCo

UnLtd.

Co.

(continued)

3.75%,

3/15/2051

30,000

21,254

Stryker

Corp.

1.15%,

6/15/2025

285,000

271,010

3.38%,

11/01/2025

265,000

256,586

4.38%,

5/15/2044

185,000

155,982

4.63%,

3/15/2046

55,000

47,463

Sutter

Health

Series

2018,

3.70%,

8/15/2028

245,000

229,940

Series

2018,

4.09%,

8/15/2048

190,000

151,476

Series

20A,

3.36%,

8/15/2050

85,000

58,422

SYSCO

Corp.

5.75%,

1/17/2029

50,000

50,498

5.95%,

4/01/2030

50,000

51,066

6.00%,

1/17/2034

50,000

51,472

4.85%,

10/01/2045

205,000

176,207

3.30%,

2/15/2050

20,000

13,339

6.60%,

4/01/2050

(a)

20,000

21,715

3.15%,

12/14/2051

100,000

63,699

Takeda

Pharmaceutical

Co.

Ltd.

5.00%,

11/26/2028

205,000

201,232

3.03%,

7/09/2040

385,000

274,622

Thermo

Fisher

Scientific,

Inc.

4.95%,

8/10/2026

45,000

44,690

4.80%,

11/21/2027

100,000

98,778

1.75%,

10/15/2028

125,000

108,250

4.98%,

8/10/2030

95,000

93,289

4.95%,

11/21/2032

100,000

97,135

5.09%,

8/10/2033

20,000

19,528

5.40%,

8/10/2043

95,000

92,620

4.10%,

8/15/2047

150,000

119,993

Thomas

Jefferson

University

,

3.85%

,

11/01/2057

40,000

28,214

Toledo

Hospital

(The)

,

5.75%

,

11/15/2038

150,000

149,006

Trinity

Health

Corp.

Series

2021,

2.63%,

12/01/2040

45,000

30,802

4.13%,

12/01/2045

45,000

36,972

Trustees

of

Princeton

University

(The)

,

Series

2020

,

2.52%

,

7/01/2050

685,000

430,416

Tyson

Foods,

Inc.

4.00%,

3/01/2026

262,000

254,399

3.55%,

6/02/2027

275,000

259,595

4.35%,

3/01/2029

123,000

116,544

4.88%,

8/15/2034

10,000

9,247

5.15%,

8/15/2044

29,000

25,127

5.10%,

9/28/2048

105,000

89,874

Unilever

Capital

Corp.

2.00%,

7/28/2026

100,000

93,270

2.90%,

5/05/2027

160,000

150,086

4.88%,

9/08/2028

100,000

99,261

2.13%,

9/06/2029

215,000

185,526

5.00%,

12/08/2033

100,000

97,982

Series

30Y,

2.63%,

8/12/2051

65,000

40,055

UnitedHealth

Group,

Inc.

3.10%,

3/15/2026

107,000

102,877

3.45%,

1/15/2027

20,000

19,141

3.70%,

5/15/2027

25,000

23,932

2.95%,

10/15/2027

170,000

157,739

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

UnitedHealth

Group,

Inc.

(continued)

5.25%,

2/15/2028

70,000

70,208

3.85%,

6/15/2028

25,000

23,719

3.88%,

12/15/2028

285,000

269,308

4.25%,

1/15/2029

60,000

57,577

4.00%,

5/15/2029

110,000

104,250

2.88%,

8/15/2029

25,000

22,308

2.30%,

5/15/2031

35,000

28,782

4.20%,

5/15/2032

236,000

217,692

4.50%,

4/15/2033

25,000

23,414

4.63%,

7/15/2035

146,000

136,855

5.80%,

3/15/2036

102,000

104,758

6.50%,

6/15/2037

180,000

194,236

6.88%,

2/15/2038

67,000

75,151

3.50%,

8/15/2039

400,000

313,808

5.95%,

2/15/2041

30,000

30,786

3.05%,

5/15/2041

10,000

7,203

4.63%,

11/15/2041

17,000

15,070

3.95%,

10/15/2042

50,000

40,372

4.75%,

7/15/2045

57,000

50,622

4.20%,

1/15/2047

50,000

40,296

3.75%,

10/15/2047

185,000

138,352

4.25%,

6/15/2048

38,000

30,849

4.45%,

12/15/2048

10,000

8,393

3.70%,

8/15/2049

50,000

36,734

3.25%,

5/15/2051

75,000

50,416

4.75%,

5/15/2052

185,000

160,714

5.88%,

2/15/2053

60,000

61,159

5.05%,

4/15/2053

215,000

195,301

5.38%,

4/15/2054

300,000

285,157

3.88%,

8/15/2059

15,000

10,850

3.13%,

5/15/2060

130,000

79,698

4.95%,

5/15/2062

35,000

30,585

6.05%,

2/15/2063

65,000

67,048

5.20%,

4/15/2063

240,000

218,762

Universal

Health

Services,

Inc.

1.65%,

9/01/2026

133,000

120,762

2.65%,

1/15/2032

215,000

170,909

University

of

Chicago

(The)

Series

20B,

2.76%,

4/01/2045

50,000

37,449

3.00%,

10/01/2052

25,000

16,924

4.00%,

10/01/2053

50,000

40,161

University

of

Notre

Dame

du

Lac

,

Series

2015

,

3.44%

,

2/15/2045

30,000

23,612

University

of

Southern

California

,

Series

2017

,

3.84%

,

10/01/2047

75,000

59,445

UPMC

,

5.04%

,

5/15/2033

10,000

9,647

Utah

Acquisition

Sub,

Inc.

3.95%,

6/15/2026

143,000

137,176

5.25%,

6/15/2046

40,000

31,933

Verisk

Analytics,

Inc.

4.00%,

6/15/2025

150,000

146,929

5.50%,

6/15/2045

50,000

46,618

3.63%,

5/15/2050

45,000

31,271

Viatris,

Inc.

3.85%,

6/22/2040

187,000

132,075

4.00%,

6/22/2050

130,000

84,976

Washington

University

(The)

Series

2022,

3.52%,

4/15/2054

125,000

91,947

80

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Consumer,

Non-cyclical

–

4.4%

(continued)

Washington

University

(The)

(continued)

4.35%,

4/15/2122

25,000

19,109

William

Marsh

Rice

University

,

3.57%

,

5/15/2045

15,000

11,779

Willis-Knighton

Medical

Center

Series

2018,

4.81%,

9/01/2048

230,000

197,797

Series

2021,

3.07%,

3/01/2051

50,000

31,050

Wyeth

LLC

6.50%,

2/01/2034

25,000

26,960

5.95%,

4/01/2037

225,000

232,020

Yale

University

,

Series

2020

,

2.40%

,

4/15/2050

50,000

30,108

Yale-New

Haven

Health

Services

Corp.

,

Series

2020

,

2.50%

,

7/01/2050

200,000

113,849

Zimmer

Biomet

Holdings,

Inc.

3.05%,

1/15/2026

165,000

158,057

5.75%,

11/30/2039

35,000

33,858

4.45%,

8/15/2045

16,000

13,519

Zoetis,

Inc.

3.00%,

9/12/2027

100,000

92,587

4.70%,

2/01/2043

100,000

87,008

3.95%,

9/12/2047

60,000

45,650

4.45%,

8/20/2048

25,000

20,738

75,659,337

Energy

–

1.7%

Apache

Corp.

4.38%,

10/15/2028

100,000

93,400

4.25%,

1/15/2030

44,000

40,424

6.00%,

1/15/2037

10,000

9,698

5.10%,

9/01/2040

25,000

20,808

5.35%,

7/01/2049

76,000

61,913

Baker

Hughes

Holdings

LLC

,

5.13%

,

9/15/2040

34,000

31,857

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co.-Obligor,

Inc.

3.34%,

12/15/2027

250,000

233,343

3.14%,

11/07/2029

115,000

102,732

4.08%,

12/15/2047

(a)

75,000

58,448

Boardwalk

Pipelines

LP

5.95%,

6/01/2026

145,000

145,349

3.40%,

2/15/2031

15,000

12,894

BP

Capital

Markets

America,

Inc.

3.80%,

9/21/2025

54,000

52,854

3.12%,

5/04/2026

86,000

82,338

3.02%,

1/16/2027

115,000

108,606

3.59%,

4/14/2027

35,000

33,394

3.94%,

9/21/2028

145,000

137,955

3.63%,

4/06/2030

10,000

9,223

1.75%,

8/10/2030

110,000

89,656

2.72%,

1/12/2032

250,000

209,348

4.81%,

2/13/2033

50,000

47,822

4.89%,

9/11/2033

25,000

24,028

3.06%,

6/17/2041

180,000

129,310

3.00%,

2/24/2050

200,000

128,233

2.77%,

11/10/2050

65,000

39,384

2.94%,

6/04/2051

104,000

65,124

3.00%,

3/17/2052

75,000

47,426

3.38%,

2/08/2061

200,000

129,502

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

BP

Capital

Markets

PLC

3.28%,

9/19/2027

230,000

215,870

3.72%,

11/28/2028

41,000

38,497

Canadian

Natural

Resources

Ltd.

2.05%,

7/15/2025

240,000

229,437

3.85%,

6/01/2027

33,000

31,401

2.95%,

7/15/2030

186,000

159,821

7.20%,

1/15/2032

15,000

16,159

Cenovus

Energy,

Inc.

5.25%,

6/15/2037

27,000

24,625

6.75%,

11/15/2039

2,000

2,104

3.75%,

2/15/2052

80,000

55,463

Cheniere

Corpus

Christi

Holdings

LLC

5.13%,

6/30/2027

95,000

93,646

2.74%,

12/31/2039

50,000

39,540

Cheniere

Energy

Partners

LP

3.25%,

1/31/2032

117,000

97,581

5.95%,

6/30/2033

75,000

74,809

Chevron

Corp.

1.55%,

5/11/2025

75,000

72,135

2.00%,

5/11/2027

275,000

251,264

2.24%,

5/11/2030

35,000

29,810

3.08%,

5/11/2050

(a)

175,000

116,640

Chevron

USA,

Inc.

0.69%,

8/12/2025

60,000

56,587

1.02%,

8/12/2027

25,000

21,922

3.25%,

10/15/2029

115,000

105,146

CNOOC

Petroleum

North

America

ULC

7.88%,

3/15/2032

50,000

58,357

5.88%,

3/10/2035

100,000

104,866

Columbia

Pipeline

Group,

Inc.

,

4.50%

,

6/01/2025

150,000

147,471

ConocoPhillips

Co.

5.05%,

9/15/2033

20,000

19,477

3.76%,

3/15/2042

550,000

429,657

3.80%,

3/15/2052

135,000

99,255

5.55%,

3/15/2054

80,000

77,528

4.03%,

3/15/2062

195,000

143,623

5.70%,

9/15/2063

15,000

14,711

Coterra

Energy,

Inc.

3.90%,

5/15/2027

55,000

52,304

4.38%,

3/15/2029

50,000

47,112

DCP

Midstream

Operating

LP

5.63%,

7/15/2027

120,000

120,004

5.60%,

4/01/2044

50,000

46,853

Devon

Energy

Corp.

5.85%,

12/15/2025

70,000

70,066

5.25%,

10/15/2027

15,000

14,855

4.50%,

1/15/2030

250,000

235,975

5.60%,

7/15/2041

145,000

133,986

4.75%,

5/15/2042

(a)

175,000

145,555

Diamondback

Energy,

Inc.

3.25%,

12/01/2026

123,000

116,700

3.50%,

12/01/2029

71,000

64,479

6.25%,

3/15/2033

47,000

48,566

5.40%,

4/18/2034

300,000

291,961

4.40%,

3/24/2051

100,000

78,955

4.25%,

3/15/2052

65,000

49,922

81

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

Diamondback

Energy,

Inc.

(continued)

5.90%,

4/18/2064

200,000

190,538

Eastern

Gas

Transmission

&

Storage,

Inc.

,

4.80%

,

11/01/2043

40,000

34,103

Enbridge

Energy

Partners

LP

,

5.88%

,

10/15/2025

25,000

25,016

Enbridge,

Inc.

1.60%,

10/04/2026

160,000

145,610

5.90%,

11/15/2026

200,000

201,252

4.25%,

12/01/2026

268,000

259,807

5.25%,

4/05/2027

300,000

297,777

5.70%,

3/08/2033

500,000

494,656

5.50%,

12/01/2046

5,000

4,638

4.00%,

11/15/2049

200,000

146,805

Energy

Transfer

LP

2.90%,

5/15/2025

115,000

111,822

5.95%,

12/01/2025

215,000

215,445

3.90%,

7/15/2026

85,000

81,921

6.05%,

12/01/2026

20,000

20,229

4.20%,

4/15/2027

75,000

72,068

5.50%,

6/01/2027

208,000

206,945

4.95%,

6/15/2028

25,000

24,354

6.10%,

12/01/2028

10,000

10,183

6.40%,

12/01/2030

20,000

20,610

6.55%,

12/01/2033

35,000

36,441

4.90%,

3/15/2035

98,000

89,786

Series

20Y,

5.80%,

6/15/2038

95,000

90,793

6.50%,

2/01/2042

775,000

785,546

5.95%,

10/01/2043

25,000

23,480

5.30%,

4/01/2044

100,000

87,641

5.35%,

5/15/2045

59,000

51,807

5.40%,

10/01/2047

82,000

71,880

6.25%,

4/15/2049

15,000

14,636

5.00%,

5/15/2050

125,000

103,738

ENI

USA,

Inc.

,

7.30%

,

11/15/2027

10,000

10,464

Enterprise

Products

Operating

LLC

3.95%,

2/15/2027

170,000

164,214

4.15%,

10/16/2028

70,000

66,864

2.80%,

1/31/2030

50,000

43,795

5.95%,

2/01/2041

124,000

125,278

4.85%,

8/15/2042

25,000

22,235

4.45%,

2/15/2043

40,000

33,649

4.85%,

3/15/2044

30,000

26,482

5.10%,

2/15/2045

40,000

36,236

4.25%,

2/15/2048

85,000

68,236

4.80%,

2/01/2049

506,000

437,983

4.20%,

1/31/2050

50,000

39,542

3.70%,

1/31/2051

120,000

86,393

3.95%,

1/31/2060

10,000

7,182

EOG

Resources,

Inc.

4.15%,

1/15/2026

260,000

254,993

4.38%,

4/15/2030

25,000

23,926

4.95%,

4/15/2050

215,000

194,353

EQT

Corp.

3.90%,

10/01/2027

70,000

66,008

7.00%,

2/01/2030

286,000

298,675

Equinor

ASA

1.75%,

1/22/2026

110,000

103,627

3.00%,

4/06/2027

55,000

51,800

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

Equinor

ASA

(continued)

5.10%,

8/17/2040

40,000

38,056

4.25%,

11/23/2041

70,000

59,657

3.25%,

11/18/2049

180,000

123,082

3.70%,

4/06/2050

100,000

73,984

Equities

Corp.

,

5.00%

,

1/15/2029

262,000

252,646

Exxon

Mobil

Corp.

3.04%,

3/01/2026

200,000

192,713

2.28%,

8/16/2026

215,000

201,843

3.29%,

3/19/2027

14,000

13,398

2.44%,

8/16/2029

125,000

110,116

3.48%,

3/19/2030

164,000

150,791

4.23%,

3/19/2040

129,000

112,085

4.11%,

3/01/2046

75,000

61,083

3.10%,

8/16/2049

217,000

144,514

4.33%,

3/19/2050

(a)

180,000

149,571

3.45%,

4/15/2051

288,000

203,692

Halliburton

Co.

2.92%,

3/01/2030

104,000

91,170

4.85%,

11/15/2035

148,000

139,412

7.45%,

9/15/2039

60,000

69,360

4.50%,

11/15/2041

25,000

21,153

4.75%,

8/01/2043

55,000

47,719

5.00%,

11/15/2045

(a)

10,000

8,941

Hess

Corp.

4.30%,

4/01/2027

125,000

120,960

7.88%,

10/01/2029

30,000

33,281

7.30%,

8/15/2031

25,000

27,476

7.13%,

3/15/2033

20,000

21,900

6.00%,

1/15/2040

80,000

80,226

Kinder

Morgan

Energy

Partners

LP

7.40%,

3/15/2031

165,000

178,237

7.75%,

3/15/2032

150,000

165,627

6.95%,

1/15/2038

269,000

286,727

6.38%,

3/01/2041

50,000

49,505

5.00%,

8/15/2042

35,000

29,952

5.00%,

3/01/2043

100,000

85,391

5.50%,

3/01/2044

480,000

434,000

5.40%,

9/01/2044

100,000

89,328

Kinder

Morgan,

Inc.

1.75%,

11/15/2026

170,000

155,039

2.00%,

2/15/2031

94,000

75,354

4.80%,

2/01/2033

50,000

46,380

5.55%,

6/01/2045

75,000

68,725

5.05%,

2/15/2046

25,000

21,306

3.25%,

8/01/2050

75,000

46,875

3.60%,

2/15/2051

20,000

13,323

5.45%,

8/01/2052

30,000

27,096

Marathon

Oil

Corp.

4.40%,

7/15/2027

15,000

14,448

6.80%,

3/15/2032

50,000

52,549

6.60%,

10/01/2037

85,000

86,452

5.20%,

6/01/2045

25,000

21,395

Marathon

Petroleum

Corp.

4.70%,

5/01/2025

150,000

148,461

3.80%,

4/01/2028

88,000

82,888

6.50%,

3/01/2041

10,000

10,365

4.75%,

9/15/2044

50,000

41,907

4.50%,

4/01/2048

90,000

71,374

82

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

MPLX

LP

4.88%,

6/01/2025

95,000

94,086

1.75%,

3/01/2026

15,000

13,985

4.13%,

3/01/2027

495,000

477,176

4.00%,

3/15/2028

150,000

142,205

2.65%,

8/15/2030

200,000

168,683

4.95%,

9/01/2032

115,000

108,456

5.00%,

3/01/2033

100,000

94,151

5.20%,

3/01/2047

50,000

43,708

5.20%,

12/01/2047

100,000

87,120

4.70%,

4/15/2048

20,000

16,331

5.50%,

2/15/2049

70,000

63,502

4.95%,

3/14/2052

100,000

83,508

5.65%,

3/01/2053

50,000

46,130

4.90%,

4/15/2058

10,000

8,003

NOV,

Inc.

,

3.60%

,

12/01/2029

95,000

85,429

Occidental

Petroleum

Corp.

5.88%,

9/01/2025

41,000

41,000

5.50%,

12/01/2025

10,000

9,937

5.55%,

3/15/2026

40,000

39,815

8.50%,

7/15/2027

60,000

64,227

6.38%,

9/01/2028

10,000

10,224

6.63%,

9/01/2030

110,000

114,032

6.13%,

1/01/2031

35,000

35,466

7.50%,

5/01/2031

15,000

16,326

7.88%,

9/15/2031

292,000

323,970

6.45%,

9/15/2036

30,000

30,887

6.20%,

3/15/2040

190,000

187,768

6.60%,

3/15/2046

115,000

117,897

ONEOK

Partners

LP

,

6.20%

,

9/15/2043

15,000

14,819

ONEOK,

Inc.

5.85%,

1/15/2026

25,000

25,090

5.00%,

3/01/2026

50,000

49,463

5.55%,

11/01/2026

270,000

269,798

4.00%,

7/13/2027

25,000

23,829

5.65%,

11/01/2028

15,000

15,054

4.35%,

3/15/2029

25,000

23,704

5.80%,

11/01/2030

111,000

111,542

6.35%,

1/15/2031

100,000

103,091

6.05%,

9/01/2033

30,000

30,357

4.25%,

9/15/2046

50,000

37,783

4.20%,

10/03/2047

100,000

74,710

5.20%,

7/15/2048

75,000

65,060

3.95%,

3/01/2050

200,000

141,624

6.63%,

9/01/2053

285,000

297,372

Ovintiv,

Inc.

5.65%,

5/15/2025

90,000

89,702

5.38%,

1/01/2026

110,000

109,139

5.65%,

5/15/2028

10,000

9,993

7.20%,

11/01/2031

50,000

53,040

6.25%,

7/15/2033

10,000

10,077

7.10%,

7/15/2053

35,000

37,681

Patterson-UTI

Energy,

Inc.

3.95%,

2/01/2028

10,000

9,280

7.15%,

10/01/2033

(a)

10,000

10,405

Phillips

66

Co.

3.55%,

10/01/2026

20,000

19,136

4.95%,

12/01/2027

140,000

138,021

3.90%,

3/15/2028

75,000

70,991

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

Phillips

66

Co.

(continued)

2.15%,

12/15/2030

20,000

16,271

4.65%,

11/15/2034

50,000

45,714

4.68%,

2/15/2045

510,000

428,644

4.90%,

10/01/2046

10,000

8,658

3.30%,

3/15/2052

75,000

48,690

Pioneer

Natural

Resources

Co.

1.90%,

8/15/2030

100,000

82,117

2.15%,

1/15/2031

50,000

41,159

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

4.65%,

10/15/2025

40,000

39,334

4.50%,

12/15/2026

60,000

58,366

5.15%,

6/01/2042

40,000

34,579

4.90%,

2/15/2045

200,000

165,985

Sabine

Pass

Liquefaction

LLC

5.88%,

6/30/2026

150,000

150,227

5.00%,

3/15/2027

325,000

320,276

4.20%,

3/15/2028

100,000

95,285

5.90%,

9/15/2037

40,000

40,172

Schlumberger

Finance

Canada

Ltd.

,

1.40%

,

9/17/2025

15,000

14,202

Schlumberger

Investment

SA

4.50%,

5/15/2028

75,000

73,279

2.65%,

6/26/2030

45,000

38,970

4.85%,

5/15/2033

10,000

9,682

Shell

International

Finance

BV

3.25%,

5/11/2025

215,000

210,299

3.88%,

11/13/2028

214,000

203,492

4.38%,

5/11/2045

160,000

134,176

4.00%,

5/10/2046

746,000

588,510

3.75%,

9/12/2046

35,000

26,575

3.13%,

11/07/2049

110,000

73,001

3.00%,

11/26/2051

235,000

149,320

Spectra

Energy

Partners

LP

,

4.50%

,

3/15/2045

145,000

115,888

Suncor

Energy,

Inc.

6.80%,

5/15/2038

70,000

73,532

6.50%,

6/15/2038

141,000

144,707

4.00%,

11/15/2047

80,000

58,309

3.75%,

3/04/2051

35,000

24,322

Targa

Resources

Corp.

6.15%,

3/01/2029

50,000

50,913

4.20%,

2/01/2033

15,000

13,245

6.50%,

3/30/2034

50,000

52,122

4.95%,

4/15/2052

200,000

166,664

6.50%,

2/15/2053

150,000

153,818

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

6.50%,

7/15/2027

15,000

15,103

4.88%,

2/01/2031

250,000

234,271

TC

PipeLines

LP

,

3.90%

,

5/25/2027

47,000

44,511

Teck

Resources

Ltd.

6.13%,

10/01/2035

150,000

149,640

6.00%,

8/15/2040

25,000

23,970

83

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Energy

–

1.7%

(continued)

Texas

Eastern

Transmission

LP

,

7.00%

,

7/15/2032

25,000

26,858

Tosco

Corp.

,

8.13%

,

2/15/2030

50,000

56,729

TotalEnergies

Capital

International

SA

3.46%,

2/19/2029

10,000

9,295

2.83%,

1/10/2030

100,000

88,682

2.99%,

6/29/2041

100,000

71,321

3.13%,

5/29/2050

175,000

116,905

TotalEnergies

Capital

SA

,

5.15%

,

4/05/2034

500,000

493,310

TransCanada

PipeLines

Ltd.

4.88%,

1/15/2026

70,000

69,098

6.20%,

3/09/2026

66,000

65,966

4.25%,

5/15/2028

161,000

153,082

4.10%,

4/15/2030

195,000

179,724

4.63%,

3/01/2034

197,000

178,854

5.85%,

3/15/2036

50,000

49,338

4.75%,

5/15/2038

80,000

70,091

6.10%,

6/01/2040

25,000

24,577

5.00%,

10/16/2043

35,000

30,274

4.88%,

5/15/2048

75,000

62,856

5.10%,

3/15/2049

230,000

200,834

Transcontinental

Gas

Pipe

Line

Co.

LLC

7.85%,

2/01/2026

40,000

41,184

4.00%,

3/15/2028

53,000

50,218

3.25%,

5/15/2030

15,000

13,225

4.45%,

8/01/2042

35,000

29,563

Valero

Energy

Corp.

4.35%,

6/01/2028

250,000

239,995

2.80%,

12/01/2031

207,000

171,729

6.63%,

6/15/2037

26,000

27,468

3.65%,

12/01/2051

80,000

54,217

Western

Midstream

Operating

LP

4.05%,

2/01/2030

50,000

45,960

6.15%,

4/01/2033

50,000

49,933

5.50%,

8/15/2048

50,000

42,166

5.25%,

2/01/2050

60,000

50,865

Williams

Cos.,

Inc.

(The)

4.00%,

9/15/2025

120,000

117,285

5.30%,

8/15/2028

20,000

19,825

2.60%,

3/15/2031

175,000

144,895

4.65%,

8/15/2032

100,000

93,405

5.65%,

3/15/2033

10,000

9,927

6.30%,

4/15/2040

379,000

383,783

4.90%,

1/15/2045

50,000

42,566

5.10%,

9/15/2045

100,000

87,887

4.85%,

3/01/2048

85,000

71,674

3.50%,

10/15/2051

80,000

53,539

5.30%,

8/15/2052

50,000

45,106

30,039,749

Financial

–

8.5%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

4.45%,

10/01/2025

350,000

343,446

2.45%,

10/29/2026

200,000

184,811

6.10%,

1/15/2027

150,000

151,251

4.63%,

10/15/2027

210,000

202,512

6.15%,

9/30/2030

270,000

273,894

3.40%,

10/29/2033

50,000

40,768

Affiliated

Managers

Group,

Inc.

3.50%,

8/01/2025

75,000

72,892

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Affiliated

Managers

Group,

Inc.

(continued)

3.30%,

6/15/2030

67,000

58,423

Aflac,

Inc.

,

4.75%

,

1/15/2049

110,000

95,164

Agree

LP

,

2.00%

,

6/15/2028

140,000

121,207

Air

Lease

Corp.

3.38%,

7/01/2025

20,000

19,445

Series

G,

3.75%,

6/01/2026

200,000

191,938

1.88%,

8/15/2026

200,000

183,292

2.20%,

1/15/2027

25,000

22,795

3.63%,

12/01/2027

173,000

161,259

2.10%,

9/01/2028

25,000

21,518

3.25%,

10/01/2029

25,000

22,196

3.00%,

2/01/2030

45,000

38,987

3.13%,

12/01/2030

402,000

344,212

2.88%,

1/15/2032

23,000

18,904

Aircastle

Ltd.

,

4.25%

,

6/15/2026

408,000

394,329

Alexandria

Real

Estate

Equities,

Inc.

3.95%,

1/15/2027

50,000

47,828

4.90%,

12/15/2030

20,000

19,193

3.38%,

8/15/2031

40,000

34,561

1.88%,

2/01/2033

100,000

73,430

3.00%,

5/18/2051

92,000

54,124

3.55%,

3/15/2052

50,000

32,874

Alleghany

Corp.

,

3.63%

,

5/15/2030

57,000

52,115

Allied

World

Assurance

Co.

Holdings

Ltd.

,

4.35%

,

10/29/2025

34,000

33,159

Allstate

Corp.

(The)

0.75%,

12/15/2025

35,000

32,383

5.25%,

3/30/2033

215,000

209,722

4.50%,

6/15/2043

50,000

41,970

Ally

Financial,

Inc.

4.75%,

6/09/2027

30,000

28,851

6.99%,

6/13/2029

15,000

15,318

6.85%,

1/03/2030

30,000

30,302

8.00%,

11/01/2031

40,000

43,329

8.00%,

11/01/2031

220,000

237,308

American

Express

Co.

3.95%,

8/01/2025

115,000

112,678

4.20%,

11/06/2025

25,000

24,522

4.90%,

2/13/2026

395,000

391,060

3.13%,

5/20/2026

100,000

95,334

1.65%,

11/04/2026

114,000

103,803

2.55%,

3/04/2027

438,000

405,103

5.65%,

4/23/2027

150,000

150,112

3.30%,

5/03/2027

200,000

188,175

5.28%,

7/27/2029

40,000

39,701

5.53%,

4/25/2030

200,000

199,842

4.42%,

8/03/2033

95,000

88,197

5.04%,

5/01/2034

160,000

153,366

5.63%,

7/28/2034

45,000

44,091

5.92%,

4/25/2035

200,000

199,735

4.05%,

12/03/2042

135,000

111,302

American

Financial

Group,

Inc.

,

4.50%

,

6/15/2047

50,000

39,445

American

Homes

4

Rent

LP

3.63%,

4/15/2032

29,000

24,803

3.38%,

7/15/2051

20,000

12,571

American

International

Group,

Inc.

4.20%,

4/01/2028

25,000

23,915

84

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

American

International

Group,

Inc.

(continued)

3.40%,

6/30/2030

25,000

22,280

5.13%,

3/27/2033

50,000

47,973

4.80%,

7/10/2045

200,000

175,417

American

Tower

Corp.

1.30%,

9/15/2025

55,000

51,871

1.60%,

4/15/2026

131,000

121,235

3.38%,

10/15/2026

25,000

23,730

3.65%,

3/15/2027

10,000

9,495

5.50%,

3/15/2028

50,000

49,762

5.25%,

7/15/2028

65,000

64,121

5.80%,

11/15/2028

15,000

15,106

3.95%,

3/15/2029

596,000

552,847

3.80%,

8/15/2029

50,000

45,728

2.90%,

1/15/2030

75,000

64,697

2.10%,

6/15/2030

25,000

20,367

1.88%,

10/15/2030

25,000

19,790

2.70%,

4/15/2031

35,000

28,929

2.30%,

9/15/2031

25,000

19,872

5.55%,

7/15/2033

95,000

92,955

5.90%,

11/15/2033

39,000

39,174

3.70%,

10/15/2049

10,000

6,946

3.10%,

6/15/2050

95,000

59,124

2.95%,

1/15/2051

65,000

39,129

Ameriprise

Financial,

Inc.

,

5.70%

,

12/15/2028

50,000

50,575

AON

Corp.

4.50%,

12/15/2028

265,000

254,511

3.75%,

5/02/2029

175,000

161,947

2.80%,

5/15/2030

55,000

47,371

AON

Corp.

/

AON

Global

Holdings

PLC

2.85%,

5/28/2027

20,000

18,564

2.05%,

8/23/2031

81,000

64,167

5.00%,

9/12/2032

135,000

129,405

5.35%,

2/28/2033

60,000

58,366

2.90%,

8/23/2051

200,000

119,760

AON

Global

Ltd.

,

3.88%

,

12/15/2025

45,000

43,799

Apollo

Global

Management,

Inc.

,

6.38%

,

11/15/2033

50,000

52,100

Arch

Capital

Group

Ltd.

7.35%,

5/01/2034

100,000

109,965

3.64%,

6/30/2050

45,000

31,065

Ares

Capital

Corp.

3.25%,

7/15/2025

222,000

214,173

3.88%,

1/15/2026

110,000

105,924

Ares

Management

Corp.

,

6.38%

,

11/10/2028

50,000

51,576

Arthur

J

Gallagher

&

Co.

3.50%,

5/20/2051

10,000

6,660

3.05%,

3/09/2052

200,000

119,865

5.75%,

3/02/2053

60,000

56,719

5.75%,

7/15/2054

400,000

380,053

Assurant,

Inc.

4.90%,

3/27/2028

30,000

29,003

3.70%,

2/22/2030

155,000

136,417

Assured

Guaranty

US

Holdings,

Inc.

,

3.60%

,

9/15/2051

50,000

33,865

Athene

Holding

Ltd.

4.13%,

1/12/2028

164,000

155,978

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Athene

Holding

Ltd.

(continued)

3.95%,

5/25/2051

30,000

21,051

3.45%,

5/15/2052

50,000

31,162

6.25%,

4/01/2054

200,000

194,579

AvalonBay

Communities,

Inc.

2.30%,

3/01/2030

10,000

8,450

2.45%,

1/15/2031

20,000

16,724

5.00%,

2/15/2033

50,000

47,880

5.30%,

12/07/2033

300,000

292,668

AXIS

Specialty

Finance

LLC

,

3.90%

,

7/15/2029

15,000

14,006

AXIS

Specialty

Finance

PLC

,

4.00%

,

12/06/2027

15,000

14,210

Bain

Capital

Specialty

Finance,

Inc.

2.95%,

3/10/2026

65,000

60,927

2.55%,

10/13/2026

55,000

50,294

Banco

Bilbao

Vizcaya

Argentaria

SA

,

5.86%

,

9/14/2026

200,000

199,415

Banco

Santander

SA

1.85%,

3/25/2026

200,000

185,705

4.25%,

4/11/2027

200,000

191,675

5.29%,

8/18/2027

368,000

363,085

1.72%,

9/14/2027

200,000

181,097

5.55%,

3/14/2028

200,000

197,538

4.38%,

4/12/2028

200,000

189,689

5.59%,

8/08/2028

400,000

397,600

3.31%,

6/27/2029

200,000

179,066

5.54%,

3/14/2030

200,000

196,164

2.75%,

12/03/2030

250,800

203,700

6.92%,

8/08/2033

200,000

204,523

Bank

of

America

Corp.

4.45%,

3/03/2026

50,000

48,967

3.50%,

4/19/2026

45,000

43,402

1.32%,

6/19/2026

80,000

76,026

4.83%,

7/22/2026

225,000

222,085

6.22%,

9/15/2026

713,000

720,892

4.25%,

10/22/2026

375,000

362,874

5.08%,

1/20/2027

320,000

316,613

Series

N,

1.66%,

3/11/2027

470,000

436,126

3.56%,

4/23/2027

242,000

232,215

1.73%,

7/22/2027

220,000

201,772

5.93%,

9/15/2027

30,000

30,143

3.25%,

10/21/2027

100,000

93,590

Series

L,

4.18%,

11/25/2027

205,000

195,969

3.71%,

4/24/2028

143,000

135,384

4.38%,

4/27/2028

390,000

376,901

3.59%,

7/21/2028

150,000

140,945

4.95%,

7/22/2028

100,000

98,081

6.20%,

11/10/2028

319,000

325,603

5.20%,

4/25/2029

130,000

128,036

2.09%,

6/14/2029

125,000

108,739

4.27%,

7/23/2029

154,000

146,069

5.82%,

9/15/2029

200,000

201,172

3.97%,

2/07/2030

436,000

405,009

3.19%,

7/23/2030

150,000

133,202

2.88%,

10/22/2030

240,000

208,673

2.50%,

2/13/2031

300,000

252,323

2.59%,

4/29/2031

225,000

189,024

1.90%,

7/23/2031

200,000

160,129

1.92%,

10/24/2031

65,000

51,665

85

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Bank

of

America

Corp.

(continued)

Series

N,

2.65%,

3/11/2032

300,000

247,275

2.69%,

4/22/2032

110,000

90,695

2.30%,

7/21/2032

200,000

159,362

2.57%,

10/20/2032

430,000

346,929

2.97%,

2/04/2033

265,000

218,466

4.57%,

4/27/2033

255,000

235,223

5.02%,

7/22/2033

570,000

544,368

5.29%,

4/25/2034

375,000

361,199

5.87%,

9/15/2034

275,000

275,848

5.47%,

1/23/2035

200,000

194,411

2.48%,

9/21/2036

274,000

214,240

6.11%,

1/29/2037

111,000

112,979

4.24%,

4/24/2038

50,000

43,030

4.08%,

4/23/2040

50,000

41,208

2.68%,

6/19/2041

180,000

121,703

3.31%,

4/22/2042

1,000,000

734,607

4.33%,

3/15/2050

130,000

104,969

4.08%,

3/20/2051

160,000

123,837

2.83%,

10/24/2051

100,000

60,789

Series

N,

3.48%,

3/13/2052

(a)

104,000

72,434

2.97%,

7/21/2052

500,000

314,469

Bank

of

America

NA

5.65%,

8/18/2025

250,000

250,401

5.53%,

8/18/2026

315,000

315,759

Bank

of

Montreal

1.85%,

5/01/2025

124,000

119,519

3.70%,

6/07/2025

45,000

44,080

5.92%,

9/25/2025

25,000

25,118

1.25%,

9/15/2026

66,000

59,830

0.95%,

1/22/2027

120,000

111,012

2.65%,

3/08/2027

104,000

96,450

5.20%,

2/01/2028

10,000

9,937

5.72%,

9/25/2028

200,000

202,103

Bank

of

Nova

Scotia

(The)

1.30%,

6/11/2025

30,000

28,628

5.45%,

6/12/2025

80,000

79,819

4.50%,

12/16/2025

20,000

19,558

1.35%,

6/24/2026

185,000

169,651

1.30%,

9/15/2026

297,000

269,352

1.95%,

2/02/2027

255,000

232,502

2.95%,

3/11/2027

110,000

102,869

5.25%,

6/12/2028

(a)

240,000

238,144

4.85%,

2/01/2030

135,000

130,750

BankUnited,

Inc.

,

4.88%

,

11/17/2025

55,000

53,535

Barclays

PLC

5.83%,

5/09/2027

200,000

199,314

6.50%,

9/13/2027

200,000

202,276

2.28%,

11/24/2027

280,000

255,639

5.67%,

3/12/2028

200,000

198,421

4.84%,

5/09/2028

564,000

537,792

5.50%,

8/09/2028

225,000

221,737

6.49%,

9/13/2029

200,000

204,387

5.69%,

3/12/2030

400,000

394,984

2.67%,

3/10/2032

50,000

40,540

7.44%,

11/02/2033

310,000

335,387

6.22%,

5/09/2034

180,000

180,423

5.25%,

8/17/2045

120,000

110,081

6.04%,

3/12/2055

200,000

198,466

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Berkshire

Hathaway

Finance

Corp.

2.88%,

3/15/2032

750,000

640,786

4.40%,

5/15/2042

25,000

22,281

4.20%,

8/15/2048

127,000

105,541

4.25%,

1/15/2049

402,000

338,399

BGC

Group,

Inc.

,

8.00%

,

5/25/2028

30,000

31,194

BlackRock,

Inc.

3.20%,

3/15/2027

169,000

160,749

2.40%,

4/30/2030

50,000

42,891

Blackstone

Private

Credit

Fund

7.05%,

9/29/2025

150,000

151,317

2.63%,

12/15/2026

35,000

31,774

3.25%,

3/15/2027

28,000

25,704

7.30%,

11/27/2028

(b)

50,000

51,357

Blackstone

Secured

Lending

Fund

2.75%,

9/16/2026

186,000

170,891

2.13%,

2/15/2027

50,000

44,767

Blue

Owl

Capital

Corp.

3.75%,

7/22/2025

170,000

165,014

4.25%,

1/15/2026

200,000

193,186

Blue

Owl

Capital

Corp.

II

,

8.45%

,

11/15/2026

(b)

50,000

51,011

Blue

Owl

Capital

Corp.

III

,

3.13%

,

4/13/2027

85,000

76,784

Blue

Owl

Credit

Income

Corp.

3.13%,

9/23/2026

57,000

52,187

4.70%,

2/08/2027

50,000

47,193

7.95%,

6/13/2028

(b)

10,000

10,242

Blue

Owl

Technology

Finance

Corp.

,

2.50%

,

1/15/2027

50,000

44,553

Boston

Properties

LP

3.65%,

2/01/2026

164,000

157,329

4.50%,

12/01/2028

75,000

69,942

3.40%,

6/21/2029

52,000

45,497

2.90%,

3/15/2030

50,000

41,773

3.25%,

1/30/2031

426,000

354,143

2.55%,

4/01/2032

247,000

189,071

6.50%,

1/15/2034

15,000

14,992

BPCE

SA

,

3.38%

,

12/02/2026

250,000

238,424

Brighthouse

Financial,

Inc.

5.63%,

5/15/2030

70,000

69,140

3.85%,

12/22/2051

195,000

121,850

Brixmor

Operating

Partnership

LP

,

2.50%

,

8/16/2031

190,000

152,023

Broadstone

NET

Lease

LLC

,

2.60%

,

9/15/2031

30,000

23,299

Brookfield

Capital

Finance

LLC

,

6.09%

,

6/14/2033

10,000

10,111

Brookfield

Finance

LLC

/

Brookfield

Finance,

Inc.

,

3.45%

,

4/15/2050

280,000

185,404

Brookfield

Finance,

Inc.

3.90%,

1/25/2028

204,000

193,440

4.85%,

3/29/2029

194,000

188,444

Brown

&

Brown,

Inc.

4.50%,

3/15/2029

50,000

47,721

2.38%,

3/15/2031

50,000

40,352

4.95%,

3/17/2052

30,000

24,852

Camden

Property

Trust

5.85%,

11/03/2026

50,000

50,397

86

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Camden

Property

Trust

(continued)

4.10%,

10/15/2028

40,000

38,055

2.80%,

5/15/2030

100,000

86,336

3.35%,

11/01/2049

35,000

23,682

Canadian

Imperial

Bank

of

Commerce

5.62%,

7/17/2026

12,000

12,017

3.45%,

4/07/2027

126,000

119,416

5.00%,

4/28/2028

126,000

123,520

5.99%,

10/03/2028

55,000

55,915

5.26%,

4/08/2029

300,000

295,889

Capital

One

Financial

Corp.

4.20%,

10/29/2025

100,000

97,449

4.99%,

7/24/2026

90,000

88,976

3.75%,

7/28/2026

160,000

153,042

3.75%,

3/09/2027

200,000

189,955

3.65%,

5/11/2027

120,000

113,552

1.88%,

11/02/2027

115,000

104,322

3.80%,

1/31/2028

190,000

178,085

6.31%,

6/08/2029

30,000

30,267

2.36%,

7/29/2032

100,000

75,733

5.27%,

5/10/2033

30,000

28,432

5.82%,

2/01/2034

250,000

242,047

6.38%,

6/08/2034

30,000

30,198

CBOE

Global

Markets,

Inc.

,

1.63%

,

12/15/2030

95,000

75,352

CBRE

Services,

Inc.

4.88%,

3/01/2026

125,000

122,915

5.95%,

8/15/2034

15,000

14,914

Charles

Schwab

Corp.

(The)

3.85%,

5/21/2025

30,000

29,476

0.90%,

3/11/2026

95,000

87,419

1.15%,

5/13/2026

25,000

22,960

5.88%,

8/24/2026

20,000

20,188

2.45%,

3/03/2027

90,000

82,924

3.30%,

4/01/2027

25,000

23,624

2.00%,

3/20/2028

10,000

8,833

4.00%,

2/01/2029

90,000

85,341

5.64%,

5/19/2029

20,000

20,026

2.75%,

10/01/2029

159,000

140,108

6.20%,

11/17/2029

50,000

51,171

2.30%,

5/13/2031

50,000

40,904

5.85%,

5/19/2034

165,000

164,136

6.14%,

8/24/2034

25,000

25,339

Chubb

INA

Holdings,

Inc.

3.35%,

5/03/2026

15,000

14,417

1.38%,

9/15/2030

125,000

99,213

4.35%,

11/03/2045

500,000

418,438

CI

Financial

Corp.

3.20%,

12/17/2030

215,000

171,458

4.10%,

6/15/2051

85,000

49,849

Cincinnati

Financial

Corp.

,

6.92%

,

5/15/2028

100,000

105,306

Citigroup,

Inc.

4.40%,

6/10/2025

200,000

196,978

5.50%,

9/13/2025

75,000

74,841

4.60%,

3/09/2026

400,000

391,608

3.40%,

5/01/2026

200,000

191,910

3.20%,

10/21/2026

175,000

165,225

4.30%,

11/20/2026

200,000

193,761

1.12%,

1/28/2027

200,000

184,559

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Citigroup,

Inc.

(continued)

1.46%,

6/09/2027

115,000

105,292

4.45%,

9/29/2027

435,000

418,486

3.89%,

1/10/2028

140,000

133,836

3.07%,

2/24/2028

850,000

792,740

4.13%,

7/25/2028

122,000

114,816

3.52%,

10/27/2028

155,000

144,541

5.17%,

2/13/2030

300,000

293,476

3.98%,

3/20/2030

144,000

133,400

2.98%,

11/05/2030

418,000

364,024

2.67%,

1/29/2031

200,000

169,796

4.41%,

3/31/2031

270,000

251,783

2.57%,

6/03/2031

410,000

342,793

6.63%,

6/15/2032

145,000

151,672

2.52%,

11/03/2032

135,000

108,164

3.06%,

1/25/2033

370,000

306,426

5.88%,

2/22/2033

40,000

40,403

3.79%,

3/17/2033

225,000

195,653

4.91%,

5/24/2033

180,000

169,034

6.27%,

11/17/2033

45,000

46,228

6.17%,

5/25/2034

245,000

243,435

8.13%,

7/15/2039

125,000

152,732

5.88%,

1/30/2042

55,000

55,498

2.90%,

11/03/2042

150,000

102,370

5.30%,

5/06/2044

190,000

175,377

4.65%,

7/30/2045

210,000

179,763

4.75%,

5/18/2046

15,000

12,590

4.65%,

7/23/2048

30,000

25,633

Citizens

Financial

Group,

Inc.

4.30%,

12/03/2025

20,000

19,414

2.85%,

7/27/2026

205,000

191,726

2.50%,

2/06/2030

50,000

41,222

3.25%,

4/30/2030

150,000

128,849

6.65%,

4/25/2035

300,000

301,439

5.64%,

5/21/2037

150,000

136,675

CME

Group,

Inc.

3.75%,

6/15/2028

15,000

14,314

5.30%,

9/15/2043

450,000

440,212

CNA

Financial

Corp.

3.45%,

8/15/2027

10,000

9,356

2.05%,

8/15/2030

50,000

40,801

5.13%,

2/15/2034

200,000

188,443

CNO

Financial

Group,

Inc.

,

5.25%

,

5/30/2025

250,000

247,876

Commonwealth

Bank

of

Australia

5.50%,

9/12/2025

270,000

270,280

5.32%,

3/13/2026

250,000

250,102

Cooperatieve

Rabobank

UA

3.38%,

5/21/2025

425,000

415,836

3.75%,

7/21/2026

250,000

238,682

5.75%,

12/01/2043

320,000

310,977

5.25%,

8/04/2045

120,000

111,596

COPT

Defense

Properties

LP

,

2.00%

,

1/15/2029

52,000

43,370

Corebridge

Financial,

Inc.

3.65%,

4/05/2027

220,000

208,391

3.90%,

4/05/2032

20,000

17,440

6.05%,

9/15/2033

(b)

102,000

102,013

4.35%,

4/05/2042

10,000

8,017

4.40%,

4/05/2052

95,000

72,903

87

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Crown

Castle,

Inc.

1.35%,

7/15/2025

50,000

47,424

4.45%,

2/15/2026

25,000

24,464

3.70%,

6/15/2026

175,000

167,998

1.05%,

7/15/2026

48,000

43,447

4.80%,

9/01/2028

10,000

9,635

4.30%,

2/15/2029

140,000

131,648

3.10%,

11/15/2029

156,000

136,217

2.25%,

1/15/2031

285,000

229,193

5.10%,

5/01/2033

127,000

119,980

4.00%,

11/15/2049

150,000

110,363

4.15%,

7/01/2050

15,000

11,257

3.25%,

1/15/2051

130,000

83,278

CubeSmart

LP

,

3.13%

,

9/01/2026

100,000

94,355

Deutsche

Bank

AG

4.10%,

1/13/2026

51,000

49,575

2.31%,

11/16/2027

200,000

181,943

2.55%,

1/07/2028

200,000

182,421

3.55%,

9/18/2031

245,000

210,611

3.73%,

1/14/2032

200,000

164,939

3.74%,

1/07/2033

200,000

161,016

Digital

Realty

Trust

LP

3.70%,

8/15/2027

435,000

411,194

4.45%,

7/15/2028

95,000

90,714

3.60%,

7/01/2029

59,000

53,445

Discover

Financial

Services

4.10%,

2/09/2027

135,000

128,721

6.70%,

11/29/2032

35,000

35,873

DOC

DR,

LLC

,

3.95%

,

1/15/2028

25,000

23,683

Eaton

Vance

Corp.

,

3.50%

,

4/06/2027

197,000

186,886

Enstar

Group

Ltd.

,

3.10%

,

9/01/2031

50,000

39,962

EPR

Properties

,

4.50%

,

6/01/2027

50,000

47,141

Equinix,

Inc.

1.25%,

7/15/2025

275,000

260,063

1.00%,

9/15/2025

80,000

74,832

1.45%,

5/15/2026

135,000

123,928

2.90%,

11/18/2026

29,000

27,083

2.50%,

5/15/2031

122,000

99,463

3.90%,

4/15/2032

50,000

44,157

3.00%,

7/15/2050

249,000

152,162

2.95%,

9/15/2051

55,000

32,821

3.40%,

2/15/2052

70,000

45,955

Equitable

Holdings,

Inc.

4.35%,

4/20/2028

175,000

166,733

5.00%,

4/20/2048

195,000

168,692

ERP

Operating

LP

3.38%,

6/01/2025

75,000

73,164

4.15%,

12/01/2028

200,000

190,478

4.50%,

7/01/2044

70,000

57,295

4.00%,

8/01/2047

50,000

37,057

Essex

Portfolio

LP

2.65%,

3/15/2032

600,000

481,606

2.65%,

9/01/2050

50,000

27,428

Everest

Reinsurance

Holdings,

Inc.

,

3.13%

,

10/15/2052

55,000

33,211

Extra

Space

Storage

LP

3.50%,

7/01/2026

72,000

68,747

4.00%,

6/15/2029

125,000

115,436

5.50%,

7/01/2030

10,000

9,867

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Extra

Space

Storage

LP

(continued)

2.35%,

3/15/2032

70,000

54,655

Fairfax

Financial

Holdings

Ltd.

4.63%,

4/29/2030

25,000

23,367

6.00%,

12/07/2033

(b)

200,000

198,790

Federal

Realty

OP

LP

3.20%,

6/15/2029

76,000

67,489

4.50%,

12/01/2044

40,000

31,695

Fidelity

National

Financial,

Inc.

4.50%,

8/15/2028

74,000

70,159

3.40%,

6/15/2030

135,000

117,021

2.45%,

3/15/2031

140,000

111,905

Fifth

Third

Bancorp

4.06%,

4/25/2028

150,000

141,530

6.36%,

10/27/2028

30,000

30,252

4.77%,

7/28/2030

55,000

51,880

4.34%,

4/25/2033

60,000

53,108

Fifth

Third

Bank

NA

,

2.25%

,

2/01/2027

350,000

320,965

First

American

Financial

Corp.

,

4.00%

,

5/15/2030

25,000

22,140

First

Horizon

Corp.

,

4.00%

,

5/26/2025

38,000

37,030

Franklin

Resources,

Inc.

,

1.60%

,

10/30/2030

75,000

59,498

FS

KKR

Capital

Corp.

,

3.25%

,

7/15/2027

160,000

144,031

Globe

Life,

Inc.

,

2.15%

,

8/15/2030

49,000

38,170

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

5.38%,

4/15/2026

270,000

266,533

5.75%,

6/01/2028

40,000

39,534

5.30%,

1/15/2029

50,000

48,491

4.00%,

1/15/2030

140,000

125,127

3.25%,

1/15/2032

130,000

106,213

6.75%,

12/01/2033

50,000

51,268

Goldman

Sachs

Bank

USA

,

5.28%

,

3/18/2027

300,000

298,163

Goldman

Sachs

Group,

Inc.

(The)

3.75%,

5/22/2025

200,000

196,151

4.25%,

10/21/2025

62,000

60,700

3.75%,

2/25/2026

500,000

484,754

5.80%,

8/10/2026

45,000

44,970

3.50%,

11/16/2026

300,000

285,053

1.09%,

12/09/2026

85,000

78,813

5.95%,

1/15/2027

350,000

353,845

3.85%,

1/26/2027

460,000

441,296

1.43%,

3/09/2027

260,000

240,275

4.39%,

6/15/2027

200,000

194,973

1.54%,

9/10/2027

210,000

190,314

1.95%,

10/21/2027

250,000

228,166

2.64%,

2/24/2028

230,000

212,074

3.69%,

6/05/2028

37,000

34,986

4.48%,

8/23/2028

200,000

193,096

3.81%,

4/23/2029

10,000

9,346

4.22%,

5/01/2029

180,000

170,714

6.48%,

10/24/2029

60,000

61,930

2.60%,

2/07/2030

60,000

51,410

3.80%,

3/15/2030

200,000

182,892

5.73%,

4/25/2030

500,000

501,335

2.62%,

4/22/2032

40,000

32,768

Series

D,

2.38%,

7/21/2032

220,000

175,884

2.65%,

10/21/2032

220,000

178,083

3.10%,

2/24/2033

235,000

195,606

6.56%,

10/24/2034

30,000

31,625

88

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Goldman

Sachs

Group,

Inc.

(The)

(continued)

6.45%,

5/01/2036

25,000

25,943

6.75%,

10/01/2037

343,000

361,672

4.41%,

4/23/2039

25,000

21,512

6.25%,

2/01/2041

681,000

711,332

3.21%,

4/22/2042

100,000

71,644

2.91%,

7/21/2042

65,000

44,352

3.44%,

2/24/2043

175,000

128,577

4.80%,

7/08/2044

125,000

110,099

5.15%,

5/22/2045

270,000

247,063

4.75%,

10/21/2045

54,000

47,124

Hanover

Insurance

Group,

Inc.

(The)

4.50%,

4/15/2026

20,000

19,545

2.50%,

9/01/2030

25,000

20,512

Hartford

Financial

Services

Group,

Inc.

(The)

,

3.60%

,

8/19/2049

290,000

206,155

Healthpeak

OP

LLC

,

5.25%

,

12/15/2032

100,000

96,158

Highwoods

Realty

LP

3.88%,

3/01/2027

55,000

51,527

4.13%,

3/15/2028

60,000

55,455

3.05%,

2/15/2030

50,000

41,309

7.65%,

2/01/2034

50,000

52,530

HSBC

Holdings

PLC

4.25%,

8/18/2025

200,000

195,468

3.90%,

5/25/2026

200,000

193,215

2.10%,

6/04/2026

220,000

210,845

5.89%,

8/14/2027

275,000

275,175

7.39%,

11/03/2028

200,000

209,665

6.16%,

3/09/2029

400,000

404,666

3.97%,

5/22/2030

200,000

183,259

2.85%,

6/04/2031

700,000

590,417

2.36%,

8/18/2031

344,000

279,599

2.80%,

5/24/2032

250,000

203,995

5.40%,

8/11/2033

200,000

193,011

8.11%,

11/03/2033

250,000

278,488

6.25%,

3/09/2034

250,000

254,996

6.50%,

5/02/2036

200,000

206,090

6.50%,

9/15/2037

400,000

409,703

6.50%,

9/15/2037

160,000

161,087

6.10%,

1/14/2042

(a)

120,000

124,144

6.33%,

3/09/2044

280,000

286,204

Huntington

Bancshares,

Inc.

4.00%,

5/15/2025

20,000

19,614

6.21%,

8/21/2029

140,000

140,585

5.02%,

5/17/2033

45,000

41,518

2.49%,

8/15/2036

152,000

111,936

ING

Groep

NV

6.08%,

9/11/2027

295,000

296,422

4.55%,

10/02/2028

220,000

211,570

4.25%,

3/28/2033

100,000

90,191

6.11%,

9/11/2034

370,000

371,682

Intercontinental

Exchange,

Inc.

3.65%,

5/23/2025

525,000

514,666

3.75%,

12/01/2025

90,000

87,628

3.10%,

9/15/2027

45,000

41,950

4.35%,

6/15/2029

307,000

293,320

4.60%,

3/15/2033

25,000

23,431

2.65%,

9/15/2040

100,000

68,171

4.25%,

9/21/2048

10,000

8,094

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Intercontinental

Exchange,

Inc.

(continued)

3.00%,

6/15/2050

399,000

254,111

4.95%,

6/15/2052

25,000

22,519

3.00%,

9/15/2060

50,000

29,382

5.20%,

6/15/2062

40,000

36,506

Invesco

Finance

PLC

,

3.75%

,

1/15/2026

35,000

33,934

Invitation

Homes

Operating

Partnership

LP

2.30%,

11/15/2028

171,000

148,063

5.45%,

8/15/2030

10,000

9,792

Jackson

Financial,

Inc.

,

4.00%

,

11/23/2051

25,000

16,578

Jefferies

Financial

Group,

Inc.

6.45%,

6/08/2027

128,000

130,395

5.88%,

7/21/2028

120,000

119,497

4.15%,

1/23/2030

30,000

27,267

6.25%,

1/15/2036

50,000

49,829

Jones

Lang

Lasalle,

Inc.

,

6.88%

,

12/01/2028

50,000

51,828

JPMorgan

Chase

&

Co.

7.63%,

10/15/2026

405,000

425,058

1.05%,

11/19/2026

300,000

279,167

4.13%,

12/15/2026

75,000

72,428

3.96%,

1/29/2027

145,000

140,783

1.04%,

2/04/2027

200,000

184,368

1.58%,

4/22/2027

465,000

429,090

8.00%,

4/29/2027

400,000

429,432

4.25%,

10/01/2027

75,000

72,345

6.07%,

10/22/2027

45,000

45,511

3.78%,

2/01/2028

253,000

241,343

2.95%,

2/24/2028

245,000

228,003

5.57%,

4/22/2028

400,000

399,967

4.32%,

4/26/2028

40,000

38,670

4.85%,

7/25/2028

213,000

208,596

3.51%,

1/23/2029

75,000

69,901

4.01%,

4/23/2029

250,000

235,932

4.20%,

7/23/2029

50,000

47,393

5.30%,

7/24/2029

270,000

267,159

6.09%,

10/23/2029

50,000

51,022

4.45%,

12/05/2029

91,000

87,008

5.01%,

1/23/2030

250,000

244,173

3.70%,

5/06/2030

30,000

27,521

4.57%,

6/14/2030

215,000

205,223

2.74%,

10/15/2030

35,000

30,336

4.49%,

3/24/2031

30,000

28,346

2.52%,

4/22/2031

100,000

84,392

2.96%,

5/13/2031

195,000

166,744

1.76%,

11/19/2031

100,000

79,138

1.95%,

2/04/2032

105,000

83,389

2.58%,

4/22/2032

360,000

296,257

2.55%,

11/08/2032

565,000

457,514

2.96%,

1/25/2033

195,000

162,226

4.91%,

7/25/2033

360,000

342,486

5.72%,

9/14/2033

(a)

150,000

149,162

5.35%,

6/01/2034

140,000

136,059

6.25%,

10/23/2034

1,065,000

1,103,289

6.40%,

5/15/2038

157,000

169,327

3.88%,

7/24/2038

240,000

199,775

5.50%,

10/15/2040

153,000

150,581

3.11%,

4/22/2041

95,000

68,999

2.53%,

11/19/2041

50,000

33,063

5.40%,

1/06/2042

115,000

111,655

5.63%,

8/16/2043

(a)

116,000

115,250

89

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

JPMorgan

Chase

&

Co.

(continued)

4.85%,

2/01/2044

50,000

45,164

4.26%,

2/22/2048

250,000

202,147

4.03%,

7/24/2048

390,000

304,393

3.90%,

1/23/2049

200,000

153,292

3.11%,

4/22/2051

100,000

65,643

3.33%,

4/22/2052

315,000

214,093

Kemper

Corp.

2.40%,

9/30/2030

25,000

19,688

3.80%,

2/23/2032

45,000

37,135

Keybank

NA

4.15%,

8/08/2025

(a)

200,000

194,269

3.40%,

5/20/2026

250,000

234,691

KeyCorp

4.15%,

10/29/2025

35,000

34,031

2.25%,

4/06/2027

40,000

35,754

4.10%,

4/30/2028

50,000

46,389

4.79%,

6/01/2033

30,000

26,589

KfW

3.13%,

6/10/2025

100,000

97,599

0.38%,

7/18/2025

70,000

65,973

0.63%,

1/22/2026

395,000

365,648

5.00%,

3/16/2026

800,000

798,015

3.63%,

4/01/2026

1,200,000

1,167,393

1.00%,

10/01/2026

467,000

424,954

3.75%,

2/15/2028

100,000

96,084

3.88%,

6/15/2028

1,000,000

963,507

0.75%,

9/30/2030

50,000

39,015

4.75%,

10/29/2030

50,000

49,872

4.13%,

7/15/2033

370,000

350,856

0.00%,

4/18/2036

(c)

225,000

125,282

Kilroy

Realty

LP

4.38%,

10/01/2025

200,000

194,883

2.50%,

11/15/2032

100,000

73,027

6.25%,

1/15/2036

300,000

281,778

Kimco

Realty

OP

LLC

2.80%,

10/01/2026

25,000

23,465

6.40%,

3/01/2034

10,000

10,347

3.70%,

10/01/2049

95,000

64,901

Kite

Realty

Group

LP

,

4.00%

,

10/01/2026

40,000

37,982

Landwirtschaftliche

Rentenbank

Series

40,

0.50%,

5/27/2025

(a)

30,000

28,459

Series

G,

1.75%,

7/27/2026

155,000

144,128

Series

44,

3.88%,

6/14/2028

485,000

466,668

Lazard

Group

LLC

3.63%,

3/01/2027

100,000

94,742

4.50%,

9/19/2028

10,000

9,521

Legg

Mason,

Inc.

,

4.75%

,

3/15/2026

25,000

24,666

Lincoln

National

Corp.

3.40%,

3/01/2032

50,000

41,758

5.85%,

3/15/2034

200,000

192,169

4.35%,

3/01/2048

45,000

33,224

Lloyds

Banking

Group

PLC

4.65%,

3/24/2026

200,000

195,235

4.72%,

8/11/2026

335,000

329,799

5.99%,

8/07/2027

315,000

315,499

5.87%,

3/06/2029

405,000

405,402

5.68%,

1/05/2035

200,000

195,227

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Lloyds

Banking

Group

PLC

(continued)

5.30%,

12/01/2045

100,000

88,771

LPL

Holdings,

Inc.

,

6.75%

,

11/17/2028

50,000

51,418

M&T

Bank

Corp.

4.55%,

8/16/2028

350,000

329,861

6.08%,

3/13/2032

400,000

390,067

Main

Street

Capital

Corp.

,

3.00%

,

7/14/2026

78,000

73,010

Manulife

Financial

Corp.

4.15%,

3/04/2026

77,000

75,270

4.06%,

2/24/2032

445,000

421,348

5.38%,

3/04/2046

85,000

79,006

Markel

Group,

Inc.

5.00%,

4/05/2046

50,000

43,162

4.30%,

11/01/2047

75,000

57,635

4.15%,

9/17/2050

30,000

22,306

Marsh

&

McLennan

Cos.,

Inc.

3.75%,

3/14/2026

170,000

165,310

2.25%,

11/15/2030

50,000

41,624

2.38%,

12/15/2031

210,000

170,467

5.75%,

11/01/2032

60,000

61,327

5.40%,

9/15/2033

10,000

9,971

5.15%,

3/15/2034

200,000

195,093

4.75%,

3/15/2039

25,000

22,684

4.90%,

3/15/2049

25,000

22,027

2.90%,

12/15/2051

50,000

30,379

5.70%,

9/15/2053

176,000

173,456

Mastercard,

Inc.

2.95%,

11/21/2026

148,000

140,267

3.30%,

3/26/2027

15,000

14,265

3.50%,

2/26/2028

135,000

127,970

4.88%,

3/09/2028

95,000

94,577

2.95%,

6/01/2029

200,000

180,625

3.35%,

3/26/2030

48,000

43,711

3.65%,

6/01/2049

275,000

206,550

3.85%,

3/26/2050

10,000

7,742

MetLife,

Inc.

3.60%,

11/13/2025

370,000

359,903

6.50%,

12/15/2032

50,000

53,680

5.38%,

7/15/2033

20,000

19,865

6.38%,

6/15/2034

100,000

106,011

5.70%,

6/15/2035

200,000

201,503

4.13%,

8/13/2042

95,000

76,782

4.05%,

3/01/2045

70,000

55,091

5.25%,

1/15/2054

85,000

79,044

MGIC

Investment

Corp.

,

5.25%

,

8/15/2028

300,000

288,370

MID-America

Apartments

LP

4.00%,

11/15/2025

35,000

34,157

1.10%,

9/15/2026

50,000

45,140

3.60%,

6/01/2027

50,000

47,459

Mitsubishi

UFJ

Financial

Group,

Inc.

1.41%,

7/17/2025

205,000

194,820

1.64%,

10/13/2027

200,000

181,882

2.34%,

1/19/2028

200,000

183,467

3.96%,

3/02/2028

50,000

47,592

4.08%,

4/19/2028

309,000

296,210

5.02%,

7/20/2028

200,000

196,862

5.35%,

9/13/2028

285,000

282,653

5.48%,

2/22/2031

200,000

198,335

90

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Mitsubishi

UFJ

Financial

Group,

Inc.

(continued)

5.13%,

7/20/2033

365,000

353,062

5.47%,

9/13/2033

300,000

296,991

5.41%,

4/19/2034

(a)

200,000

196,974

3.75%,

7/18/2039

355,000

288,913

Mizuho

Financial

Group,

Inc.

1.23%,

5/22/2027

552,000

504,680

1.55%,

7/09/2027

200,000

183,083

4.25%,

9/11/2029

75,000

70,917

2.59%,

5/25/2031

50,000

41,888

2.56%,

9/13/2031

335,000

266,138

5.58%,

5/26/2035

250,000

243,424

Morgan

Stanley

4.00%,

7/23/2025

172,000

168,689

5.00%,

11/24/2025

250,000

247,367

4.68%,

7/17/2026

225,000

222,001

3.13%,

7/27/2026

250,000

237,639

6.25%,

8/09/2026

100,000

101,535

Series

G,

4.35%,

9/08/2026

195,000

189,531

0.99%,

12/10/2026

495,000

458,472

3.63%,

1/20/2027

225,000

215,014

3.95%,

4/23/2027

125,000

119,733

1.59%,

5/04/2027

300,000

276,433

1.51%,

7/20/2027

330,000

301,286

5.65%,

4/13/2028

100,000

100,171

3.59%,

7/22/2028

315,000

296,354

6.30%,

10/18/2028

55,000

56,151

Series

G,

3.77%,

1/24/2029

368,000

345,482

5.16%,

4/20/2029

245,000

241,048

5.45%,

7/20/2029

45,000

44,706

6.41%,

11/01/2029

200,000

206,202

4.43%,

1/23/2030

125,000

118,896

5.66%,

4/18/2030

150,000

150,136

Series

G,

2.70%,

1/22/2031

184,000

157,462

3.62%,

4/01/2031

125,000

112,259

1.79%,

2/13/2032

800,000

623,337

7.25%,

4/01/2032

150,000

167,362

1.93%,

4/28/2032

310,000

242,446

2.24%,

7/21/2032

54,000

42,914

2.51%,

10/20/2032

327,000

262,999

2.94%,

1/21/2033

215,000

177,314

4.89%,

7/20/2033

160,000

150,547

6.34%,

10/18/2033

235,000

243,900

5.25%,

4/21/2034

207,000

198,799

6.63%,

11/01/2034

45,000

47,545

5.83%,

4/19/2035

150,000

150,240

2.48%,

9/16/2036

20,000

15,443

5.30%,

4/20/2037

255,000

238,792

3.97%,

7/22/2038

300,000

246,334

4.46%,

4/22/2039

210,000

183,158

3.22%,

4/22/2042

40,000

28,959

6.38%,

7/24/2042

80,000

86,216

4.30%,

1/27/2045

125,000

104,004

4.38%,

1/22/2047

29,000

24,038

2.80%,

1/25/2052

245,000

149,390

NASDAQ,

Inc.

3.85%,

6/30/2026

33,000

31,860

1.65%,

1/15/2031

55,000

43,106

2.50%,

12/21/2040

25,000

15,964

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

NASDAQ,

Inc.

(continued)

3.25%,

4/28/2050

140,000

91,230

3.95%,

3/07/2052

50,000

36,250

6.10%,

6/28/2063

50,000

50,060

National

Australia

Bank

Ltd.

,

5.20%

,

5/13/2025

250,000

249,271

National

Health

Investors,

Inc.

,

3.00%

,

2/01/2031

95,000

75,999

NatWest

Group

PLC

7.47%,

11/10/2026

325,000

332,551

1.64%,

6/14/2027

310,000

283,987

5.08%,

1/27/2030

225,000

217,300

NNN

REIT,

Inc.

5.60%,

10/15/2033

10,000

9,805

3.50%,

4/15/2051

25,000

16,905

3.00%,

4/15/2052

70,000

42,214

Nomura

Holdings,

Inc.

2.33%,

1/22/2027

200,000

182,700

6.07%,

7/12/2028

235,000

237,497

2.61%,

7/14/2031

200,000

161,502

3.00%,

1/22/2032

395,000

323,975

Northern

Trust

Corp.

3.95%,

10/30/2025

75,000

73,228

4.00%,

5/10/2027

95,000

91,731

3.15%,

5/03/2029

63,000

57,534

1.95%,

5/01/2030

25,000

20,730

3.38%,

5/08/2032

60,000

55,723

6.13%,

11/02/2032

45,000

46,315

Oaktree

Strategic

Credit

Fund

,

8.40%

,

11/14/2028

(b)

50,000

52,191

Oesterreichische

Kontrollbank

AG

4.13%,

1/20/2026

(a)

190,000

186,547

5.00%,

10/23/2026

600,000

598,850

Old

Republic

International

Corp.

3.88%,

8/26/2026

70,000

67,154

3.85%,

6/11/2051

30,000

20,658

OMEGA

Healthcare

Investors,

Inc.

4.50%,

4/01/2027

15,000

14,383

4.75%,

1/15/2028

25,000

23,714

3.63%,

10/01/2029

115,000

100,482

ORIX

Corp.

,

4.00%

,

4/13/2032

150,000

135,684

PartnerRe

Finance

B

LLC

,

3.70%

,

7/02/2029

133,000

124,044

PNC

Bank

NA

4.20%,

11/01/2025

295,000

287,647

2.70%,

10/22/2029

75,000

63,983

PNC

Financial

Services

Group,

Inc.

(The)

5.81%,

6/12/2026

85,000

85,010

2.60%,

7/23/2026

180,000

169,240

4.76%,

1/26/2027

200,000

197,051

3.15%,

5/19/2027

113,000

106,072

6.62%,

10/20/2027

30,000

30,643

5.35%,

12/02/2028

115,000

113,975

3.45%,

4/23/2029

58,000

52,903

5.58%,

6/12/2029

45,000

44,797

2.55%,

1/22/2030

265,000

226,314

4.63%,

6/06/2033

50,000

45,699

5.07%,

1/24/2034

215,000

202,362

5.94%,

8/18/2034

95,000

94,831

91

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

PNC

Financial

Services

Group,

Inc.

(The)

(continued)

6.88%,

10/20/2034

50,000

53,100

Primerica,

Inc.

,

2.80%

,

11/19/2031

50,000

40,740

Principal

Financial

Group,

Inc.

3.10%,

11/15/2026

189,000

178,324

4.30%,

11/15/2046

200,000

159,510

Private

Export

Funding

Corp.

,

Series

PP

,

1.40%

,

7/15/2028

50,000

43,255

Progressive

Corp.

(The)

4.00%,

3/01/2029

31,000

29,347

4.13%,

4/15/2047

230,000

184,359

4.20%,

3/15/2048

105,000

85,517

ProLogis

LP

3.25%,

10/01/2026

114,000

108,460

4.88%,

6/15/2028

15,000

14,770

2.88%,

11/15/2029

144,000

127,112

1.75%,

2/01/2031

10,000

7,944

5.13%,

1/15/2034

250,000

241,467

5.25%,

6/15/2053

250,000

229,799

5.25%,

3/15/2054

300,000

273,977

Prospect

Capital

Corp.

3.36%,

11/15/2026

40,000

36,507

3.44%,

10/15/2028

65,000

55,040

Prudential

Financial,

Inc.

3.88%,

3/27/2028

51,000

48,387

4.60%,

5/15/2044

12,000

10,197

3.91%,

12/07/2047

100,000

74,888

4.42%,

3/27/2048

20,000

16,254

3.94%,

12/07/2049

173,000

128,556

3.70%,

3/13/2051

105,000

75,232

Public

Storage

Operating

Co.

0.88%,

2/15/2026

94,000

86,774

1.50%,

11/09/2026

30,000

27,311

1.95%,

11/09/2028

500,000

432,731

3.39%,

5/01/2029

105,000

96,146

2.25%,

11/09/2031

14,000

11,227

5.10%,

8/01/2033

46,000

44,603

Radian

Group,

Inc.

,

4.88%

,

3/15/2027

75,000

72,171

Raymond

James

Financial,

Inc.

4.65%,

4/01/2030

342,000

329,601

4.95%,

7/15/2046

33,000

28,874

Rayonier

LP

,

2.75%

,

5/17/2031

65,000

52,475

Realty

Income

Corp.

4.63%,

11/01/2025

25,000

24,644

5.05%,

1/13/2026

267,000

265,508

3.00%,

1/15/2027

50,000

46,920

3.95%,

8/15/2027

60,000

57,324

3.40%,

1/15/2028

50,000

46,564

3.25%,

6/15/2029

151,000

136,569

4.00%,

7/15/2029

119,000

110,920

3.40%,

1/15/2030

110,000

98,076

3.20%,

2/15/2031

10,000

8,595

2.70%,

2/15/2032

25,000

20,302

4.90%,

7/15/2033

60,000

56,278

4.65%,

3/15/2047

171,000

143,839

Regency

Centers

LP

2.95%,

9/15/2029

25,000

21,985

3.70%,

6/15/2030

10,000

8,999

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Regency

Centers

LP

(continued)

4.40%,

2/01/2047

25,000

19,520

4.65%,

3/15/2049

65,000

52,833

Regions

Financial

Corp.

,

1.80%

,

8/12/2028

47,000

39,954

Reinsurance

Group

of

America,

Inc.

,

3.90%

,

5/15/2029

150,000

139,257

RenaissanceRe

Finance,

Inc.

,

3.45%

,

7/01/2027

215,000

200,887

RenaissanceRe

Holdings

Ltd.

,

5.75%

,

6/05/2033

15,000

14,629

Rexford

Industrial

Realty

LP

,

2.15%

,

9/01/2031

50,000

39,106

Royal

Bank

of

Canada

1.15%,

6/10/2025

(a)

353,000

336,582

Series

G,

0.88%,

1/20/2026

200,000

185,511

1.20%,

4/27/2026

110,000

101,238

Series

G,

5.20%,

7/20/2026

25,000

24,893

3.63%,

5/04/2027

80,000

76,083

Series

G,

4.24%,

8/03/2027

(a)

100,000

96,646

6.00%,

11/01/2027

200,000

203,873

Series

G,

5.20%,

8/01/2028

(a)

235,000

233,656

Series

G,

2.30%,

11/03/2031

245,000

197,617

3.88%,

5/04/2032

36,000

32,241

Series

G,

5.00%,

2/01/2033

(a)

50,000

48,165

Sabra

Health

Care

LP

5.13%,

8/15/2026

100,000

97,865

3.90%,

10/15/2029

50,000

44,252

Safehold

GL

Holdings

LLC

,

2.80%

,

6/15/2031

60,000

49,068

Santander

Holdings

USA,

Inc.

3.45%,

6/02/2025

200,000

194,138

4.50%,

7/17/2025

140,000

137,301

3.24%,

10/05/2026

275,000

257,843

4.40%,

7/13/2027

50,000

47,884

2.49%,

1/06/2028

80,000

72,483

6.50%,

3/09/2029

135,000

136,151

6.57%,

6/12/2029

10,000

10,145

7.66%,

11/09/2031

50,000

53,437

Santander

UK

Group

Holdings

PLC

1.67%,

6/14/2027

250,000

228,142

2.47%,

1/11/2028

200,000

182,063

2.90%,

3/15/2032

125,000

102,916

Simon

Property

Group

LP

3.50%,

9/01/2025

272,000

264,900

3.30%,

1/15/2026

161,000

155,029

3.25%,

11/30/2026

34,000

32,242

1.38%,

1/15/2027

200,000

179,819

3.38%,

6/15/2027

48,000

45,288

3.38%,

12/01/2027

15,000

14,029

1.75%,

2/01/2028

17,000

14,924

2.45%,

9/13/2029

100,000

86,007

2.65%,

7/15/2030

15,000

12,803

2.20%,

2/01/2031

276,000

223,437

5.50%,

3/08/2033

30,000

29,614

6.25%,

1/15/2034

50,000

51,688

4.75%,

3/15/2042

70,000

60,448

3.25%,

9/13/2049

72,000

47,139

6.65%,

1/15/2054

50,000

53,668

92

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Sixth

Street

Specialty

Lending,

Inc.

,

2.50%

,

8/01/2026

110,000

101,257

State

Street

Corp.

3.55%,

8/18/2025

215,000

209,937

5.27%,

8/03/2026

25,000

24,934

1.68%,

11/18/2027

126,000

115,123

5.68%,

11/21/2029

50,000

50,484

2.20%,

3/03/2031

445,000

361,128

2.62%,

2/07/2033

20,000

16,281

4.16%,

8/04/2033

50,000

45,176

5.16%,

5/18/2034

50,000

48,294

3.03%,

11/01/2034

375,000

326,350

6.12%,

11/21/2034

50,000

50,826

Stewart

Information

Services

Corp.

,

3.60%

,

11/15/2031

135,000

109,853

STORE

Capital

Corp.

4.63%,

3/15/2029

115,000

106,890

2.75%,

11/18/2030

20,000

15,945

2.70%,

12/01/2031

28,000

21,659

Sumitomo

Mitsui

Financial

Group,

Inc.

1.47%,

7/08/2025

200,000

190,379

0.95%,

1/12/2026

251,000

232,252

2.63%,

7/14/2026

50,000

47,049

1.40%,

9/17/2026

200,000

181,620

3.01%,

10/19/2026

200,000

188,314

3.45%,

1/11/2027

65,000

61,726

3.36%,

7/12/2027

225,000

211,171

3.35%,

10/18/2027

25,000

23,307

5.52%,

1/13/2028

280,000

280,426

5.80%,

7/13/2028

205,000

206,964

3.94%,

7/19/2028

25,000

23,588

5.72%,

9/14/2028

285,000

287,521

2.14%,

9/23/2030

45,000

36,348

5.81%,

9/14/2033

810,000

819,118

2.30%,

1/12/2041

130,000

84,216

6.18%,

7/13/2043

15,000

15,810

Sun

Communities

Operating

LP

4.20%,

4/15/2032

35,000

30,671

5.70%,

1/15/2033

96,000

92,925

Synchrony

Bank

5.40%,

8/22/2025

605,000

597,226

5.63%,

8/23/2027

296,000

289,734

Synchrony

Financial

4.50%,

7/23/2025

55,000

53,748

3.70%,

8/04/2026

60,000

56,679

3.95%,

12/01/2027

65,000

60,179

2.88%,

10/28/2031

(a)

255,000

201,034

Synovus

Financial

Corp.

,

5.20%

,

8/11/2025

10,000

9,812

Tanger

Properties

LP

,

2.75%

,

9/01/2031

90,000

71,790

Toronto-Dominion

Bank

(The)

5.10%,

1/09/2026

70,000

69,740

1.20%,

6/03/2026

460,000

421,281

1.25%,

9/10/2026

195,000

176,869

1.95%,

1/12/2027

(a)

70,000

64,215

2.80%,

3/10/2027

100,000

93,044

4.11%,

6/08/2027

270,000

259,675

4.69%,

9/15/2027

148,000

144,557

5.16%,

1/10/2028

80,000

79,263

5.52%,

7/17/2028

89,000

89,324

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Toronto-Dominion

Bank

(The)

(continued)

2.00%,

9/10/2031

95,000

75,361

Series

G,

2.45%,

1/12/2032

50,000

40,334

3.20%,

3/10/2032

115,000

98,053

4.46%,

6/08/2032

(a)

60,000

55,679

Travelers

Cos.,

Inc.

(The)

5.35%,

11/01/2040

25,000

24,215

4.00%,

5/30/2047

110,000

86,543

Travelers

Property

Casualty

Corp.

,

6.38%

,

3/15/2033

315,000

338,504

Truist

Bank

,

3.30%

,

5/15/2026

217,000

206,767

Truist

Financial

Corp.

4.26%,

7/28/2026

139,000

136,372

5.90%,

10/28/2026

40,000

39,987

1.27%,

3/02/2027

110,000

101,386

6.05%,

6/08/2027

80,000

80,400

1.13%,

8/03/2027

50,000

43,590

4.12%,

6/06/2028

50,000

47,751

4.87%,

1/26/2029

450,000

436,298

1.89%,

6/07/2029

375,000

320,334

4.92%,

7/28/2033

100,000

90,068

6.12%,

10/28/2033

90,000

89,894

5.87%,

6/08/2034

70,000

68,701

UBS

Group

AG

4.55%,

4/17/2026

350,000

342,252

4.88%,

5/15/2045

165,000

144,919

UDR,

Inc.

2.95%,

9/01/2026

40,000

37,535

Series

G,

3.50%,

1/15/2028

50,000

46,341

3.00%,

8/15/2031

50,000

42,294

2.10%,

8/01/2032

25,000

18,929

Unum

Group

,

4.50%

,

12/15/2049

15,000

11,440

US

Bancorp

1.45%,

5/12/2025

40,000

38,393

3.95%,

11/17/2025

300,000

292,764

Series

V,

2.38%,

7/22/2026

(a)

236,000

221,341

Series

X,

3.15%,

4/27/2027

57,000

53,653

6.79%,

10/26/2027

20,000

20,512

3.90%,

4/26/2028

140,000

132,591

4.55%,

7/22/2028

332,000

321,111

4.65%,

2/01/2029

187,000

180,276

5.78%,

6/12/2029

270,000

270,212

Series

D,

3.00%,

7/30/2029

160,000

140,142

5.38%,

1/23/2030

50,000

49,261

1.38%,

7/22/2030

55,000

43,076

2.68%,

1/27/2033

95,000

76,089

4.97%,

7/22/2033

100,000

92,148

5.85%,

10/21/2033

160,000

158,709

4.84%,

2/01/2034

64,000

59,057

5.84%,

6/12/2034

130,000

128,390

Ventas

Realty

LP

3.25%,

10/15/2026

94,000

88,384

3.85%,

4/01/2027

40,000

38,063

4.40%,

1/15/2029

191,000

180,371

3.00%,

1/15/2030

15,000

12,911

4.38%,

2/01/2045

15,000

11,455

4.88%,

4/15/2049

10,000

8,107

VICI

Properties

LP

4.38%,

5/15/2025

193,000

189,892

93

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

VICI

Properties

LP

(continued)

4.95%,

2/15/2030

90,000

85,317

5.63%,

5/15/2052

35,000

30,553

Visa,

Inc.

3.15%,

12/14/2025

25,000

24,220

1.90%,

4/15/2027

125,000

114,370

2.05%,

4/15/2030

17,000

14,317

1.10%,

2/15/2031

200,000

154,994

4.15%,

12/14/2035

75,000

68,172

2.70%,

4/15/2040

105,000

74,364

4.30%,

12/14/2045

100,000

84,576

3.65%,

9/15/2047

500,000

378,888

Voya

Financial,

Inc.

5.70%,

7/15/2043

50,000

46,937

4.80%,

6/15/2046

50,000

41,066

W.P.

Carey,

Inc.

,

4.25%

,

10/01/2026

35,000

33,902

W.R.

Berkley

Corp.

4.75%,

8/01/2044

70,000

59,329

4.00%,

5/12/2050

140,000

102,573

Wachovia

Corp.

,

5.50%

,

8/01/2035

210,000

202,995

Webster

Financial

Corp.

,

4.10%

,

3/25/2029

70,000

63,140

Wells

Fargo

&

Co.

3.55%,

9/29/2025

275,000

267,487

4.10%,

6/03/2026

105,000

101,744

4.54%,

8/15/2026

255,000

250,960

3.00%,

10/23/2026

10,000

9,408

3.20%,

6/17/2027

45,000

42,737

3.58%,

5/22/2028

150,000

141,199

2.39%,

6/02/2028

170,000

154,476

4.81%,

7/25/2028

260,000

253,384

4.15%,

1/24/2029

20,000

18,916

5.57%,

7/25/2029

175,000

174,440

6.30%,

10/23/2029

60,000

61,468

Series

B,

7.95%,

11/15/2029

15,000

16,445

2.88%,

10/30/2030

575,000

499,140

2.57%,

2/11/2031

125,000

105,765

4.48%,

4/04/2031

360,000

338,281

3.35%,

3/02/2033

365,000

308,029

4.90%,

7/25/2033

170,000

159,727

5.39%,

4/24/2034

65,000

62,688

5.56%,

7/25/2034

316,000

307,864

6.49%,

10/23/2034

70,000

72,878

3.07%,

4/30/2041

535,000

380,106

5.38%,

11/02/2043

860,000

790,488

5.61%,

1/15/2044

340,000

321,169

Series

G,

4.90%,

11/17/2045

230,000

196,472

5.01%,

4/04/2051

575,000

510,955

Wells

Fargo

Bank

NA

5.55%,

8/01/2025

350,000

350,162

5.45%,

8/07/2026

350,000

349,794

Welltower

OP

LLC

4.00%,

6/01/2025

400,000

392,473

4.25%,

4/01/2026

25,000

24,365

4.25%,

4/15/2028

45,000

42,879

3.10%,

1/15/2030

52,000

45,700

2.75%,

1/15/2031

270,000

226,878

Western

Union

Co.

(The)

1.35%,

3/15/2026

105,000

96,621

2.75%,

3/15/2031

70,000

57,041

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Financial

–

8.5%

(continued)

Westpac

Banking

Corp.

3.74%,

8/26/2025

83,000

81,174

5.51%,

11/17/2025

50,000

50,108

2.85%,

5/13/2026

95,000

90,530

1.15%,

6/03/2026

50,000

45,884

4.04%,

8/26/2027

(a)

400,000

386,449

5.46%,

11/18/2027

735,000

739,844

3.40%,

1/25/2028

59,000

55,258

5.54%,

11/17/2028

50,000

50,511

1.95%,

11/20/2028

390,000

337,818

2.15%,

6/03/2031

25,000

20,402

5.41%,

8/10/2033

25,000

24,036

6.82%,

11/17/2033

50,000

52,796

4.11%,

7/24/2034

50,000

45,490

2.67%,

11/15/2035

45,000

36,337

3.02%,

11/18/2036

50,000

40,212

2.96%,

11/16/2040

41,000

27,665

3.13%,

11/18/2041

240,000

163,588

Weyerhaeuser

Co.

4.75%,

5/15/2026

20,000

19,681

4.00%,

11/15/2029

260,000

240,136

4.00%,

4/15/2030

15,000

13,823

4.00%,

3/09/2052

35,000

26,091

Willis

North

America,

Inc.

4.65%,

6/15/2027

189,000

183,720

5.35%,

5/15/2033

15,000

14,407

WP

Carey,

Inc.

,

3.85%

,

7/15/2029

25,000

23,055

XL

Group

Ltd.

,

5.25%

,

12/15/2043

25,000

22,637

146,269,703

Industrial

–

1.8%

3M

Co.

2.88%,

10/15/2027

177,000

162,653

2.38%,

8/26/2029

339,000

290,929

3.05%,

4/15/2030

(a)

35,000

30,731

3.88%,

6/15/2044

100,000

75,219

3.63%,

10/15/2047

210,000

148,202

4.00%,

9/14/2048

85,000

65,406

3.25%,

8/26/2049

(a)

50,000

33,225

Allegion

US

Holding

Co.,

Inc.

,

3.55%

,

10/01/2027

90,000

84,464

Amcor

Finance

USA,

Inc.

,

3.63%

,

4/28/2026

25,000

23,979

Amphenol

Corp.

,

2.80%

,

2/15/2030

20,000

17,490

Arrow

Electronics,

Inc.

,

2.95%

,

2/15/2032

115,000

93,557

Berry

Global,

Inc.

,

1.65%

,

1/15/2027

25,000

22,544

Boeing

Co.

(The)

4.88%,

5/01/2025

125,000

123,442

2.60%,

10/30/2025

175,000

166,128

2.20%,

2/04/2026

25,000

23,324

3.10%,

5/01/2026

20,000

18,839

2.70%,

2/01/2027

758,000

690,606

2.80%,

3/01/2027

15,000

13,664

5.04%,

5/01/2027

75,000

72,703

3.25%,

2/01/2028

184,000

166,211

3.45%,

11/01/2028

25,000

22,315

2.95%,

2/01/2030

10,000

8,403

5.15%,

5/01/2030

180,000

170,663

3.63%,

2/01/2031

110,000

94,541

6.13%,

2/15/2033

105,000

103,100

3.60%,

5/01/2034

340,000

269,489

94

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

Boeing

Co.

(The)

(continued)

3.25%,

2/01/2035

60,000

45,290

6.63%,

2/15/2038

32,000

31,912

3.63%,

3/01/2048

25,000

15,848

3.85%,

11/01/2048

125,000

82,242

3.75%,

2/01/2050

(a)

100,000

64,549

5.81%,

5/01/2050

415,000

367,585

3.83%,

3/01/2059

145,000

89,225

3.95%,

8/01/2059

235,000

146,979

5.93%,

5/01/2060

30,000

26,223

Burlington

Northern

Santa

Fe

LLC

7.00%,

12/15/2025

20,000

20,498

6.15%,

5/01/2037

25,000

26,412

5.75%,

5/01/2040

70,000

70,639

4.45%,

3/15/2043

113,000

96,456

4.90%,

4/01/2044

15,000

13,570

4.55%,

9/01/2044

27,000

23,242

4.70%,

9/01/2045

40,000

34,994

3.90%,

8/01/2046

65,000

50,053

4.15%,

12/15/2048

90,000

71,822

4.45%,

1/15/2053

155,000

129,105

5.20%,

4/15/2054

(a)

55,000

51,510

Canadian

National

Railway

Co.

2.75%,

3/01/2026

130,000

124,564

6.25%,

8/01/2034

25,000

26,722

6.20%,

6/01/2036

115,000

121,676

4.45%,

1/20/2049

100,000

85,331

2.45%,

5/01/2050

100,000

58,264

Canadian

Pacific

Railway

Co.

4.00%,

6/01/2028

13,000

12,365

2.88%,

11/15/2029

193,000

170,273

4.80%,

8/01/2045

50,000

43,663

4.95%,

8/15/2045

226,000

199,042

4.70%,

5/01/2048

50,000

41,935

3.10%,

12/02/2051

95,000

60,944

6.13%,

9/15/2115

200,000

197,873

Carrier

Global

Corp.

5.80%,

11/30/2025

50,000

50,110

2.72%,

2/15/2030

246,000

212,417

2.70%,

2/15/2031

50,000

42,104

3.38%,

4/05/2040

135,000

101,091

3.58%,

4/05/2050

177,000

125,087

Caterpillar

Financial

Services

Corp.

3.40%,

5/13/2025

95,000

93,128

1.45%,

5/15/2025

20,000

19,197

5.15%,

8/11/2025

85,000

84,774

4.80%,

1/06/2026

25,000

24,829

0.90%,

3/02/2026

373,000

344,374

Series

D,

4.35%,

5/15/2026

40,000

39,298

2.40%,

8/09/2026

105,000

98,635

1.15%,

9/14/2026

204,000

185,315

1.70%,

1/08/2027

19,000

17,356

3.60%,

8/12/2027

50,000

47,637

Caterpillar,

Inc.

5.20%,

5/27/2041

275,000

264,107

3.80%,

8/15/2042

175,000

139,935

4.75%,

5/15/2064

24,000

20,961

CNH

Industrial

Capital

LLC

3.95%,

5/23/2025

135,000

132,300

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

CNH

Industrial

Capital

LLC

(continued)

4.55%,

4/10/2028

10,000

9,629

5.50%,

1/12/2029

10,000

9,978

CSX

Corp.

3.35%,

11/01/2025

69,000

66,822

3.25%,

6/01/2027

40,000

37,716

2.40%,

2/15/2030

400,000

341,866

4.10%,

11/15/2032

100,000

91,700

5.20%,

11/15/2033

10,000

9,861

6.00%,

10/01/2036

40,000

41,523

6.22%,

4/30/2040

20,000

21,030

4.10%,

3/15/2044

110,000

88,948

4.75%,

11/15/2048

13,000

11,326

3.35%,

9/15/2049

175,000

120,019

3.80%,

4/15/2050

95,000

70,380

4.50%,

11/15/2052

100,000

83,763

4.25%,

11/01/2066

70,000

52,782

Deere

&

Co.

5.38%,

10/16/2029

50,000

50,787

3.10%,

4/15/2030

287,000

256,425

3.90%,

6/09/2042

25,000

20,500

3.75%,

4/15/2050

50,000

38,824

Dover

Corp.

,

5.38%

,

10/15/2035

25,000

24,791

Eaton

Corp.

4.35%,

5/18/2028

20,000

19,406

4.15%,

3/15/2033

155,000

142,493

4.15%,

11/02/2042

77,000

64,357

Emerson

Electric

Co.

3.15%,

6/01/2025

29,000

28,351

0.88%,

10/15/2026

80,000

72,331

1.80%,

10/15/2027

10,000

8,959

1.95%,

10/15/2030

75,000

62,188

2.20%,

12/21/2031

30,000

24,494

2.80%,

12/21/2051

200,000

122,365

FedEx

Corp.

3.25%,

4/01/2026

50,000

48,140

3.10%,

8/05/2029

120,000

107,738

4.25%,

5/15/2030

10,000

9,437

2.40%,

5/15/2031

(a)

97,000

80,174

4.90%,

1/15/2034

30,000

28,548

3.25%,

5/15/2041

120,000

84,829

3.88%,

8/01/2042

75,000

56,848

5.10%,

1/15/2044

59,000

52,284

4.75%,

11/15/2045

15,000

12,584

4.55%,

4/01/2046

30,000

24,429

4.40%,

1/15/2047

10,000

7,916

4.05%,

2/15/2048

95,000

71,035

5.25%,

5/15/2050

55,000

49,681

Flex

Ltd.

4.75%,

6/15/2025

30,000

29,622

3.75%,

2/01/2026

25,000

24,098

4.88%,

5/12/2030

75,000

71,185

Flowserve

Corp.

,

3.50%

,

10/01/2030

75,000

65,117

Fortive

Corp.

,

4.30%

,

6/15/2046

25,000

20,011

Fortune

Brands

Innovations,

Inc.

4.00%,

6/15/2025

62,000

60,668

4.50%,

3/25/2052

25,000

19,377

95

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

GATX

Corp.

3.85%,

3/30/2027

64,000

61,066

4.70%,

4/01/2029

30,000

28,894

3.50%,

6/01/2032

75,000

63,641

5.45%,

9/15/2033

30,000

28,833

6.90%,

5/01/2034

100,000

105,987

3.10%,

6/01/2051

50,000

30,557

GE

Capital

International

Funding

Co.

Unlimited

Co.

,

4.42%

,

11/15/2035

450,000

406,735

General

Dynamics

Corp.

3.50%,

5/15/2025

110,000

107,926

2.13%,

8/15/2026

705,000

657,081

3.50%,

4/01/2027

40,000

38,209

3.75%,

5/15/2028

221,000

210,038

4.25%,

4/01/2040

10,000

8,587

4.25%,

4/01/2050

141,000

115,929

HEICO

Corp.

5.25%,

8/01/2028

10,000

9,905

5.35%,

8/01/2033

110,000

108,085

Hexcel

Corp.

4.95%,

8/15/2025

330,000

327,464

4.20%,

2/15/2027

140,000

134,235

Honeywell

International,

Inc.

2.50%,

11/01/2026

50,000

46,899

1.10%,

3/01/2027

200,000

179,200

4.95%,

2/15/2028

200,000

199,268

4.25%,

1/15/2029

115,000

110,880

1.95%,

6/01/2030

125,000

104,013

1.75%,

9/01/2031

75,000

59,325

5.70%,

3/15/2036

65,000

66,580

5.70%,

3/15/2037

17,000

17,285

3.81%,

11/21/2047

160,000

122,023

Howmet

Aerospace,

Inc.

,

3.00%

,

1/15/2029

39,000

34,632

Hubbell,

Inc.

,

3.15%

,

8/15/2027

50,000

46,516

Huntington

Ingalls

Industries,

Inc.

3.84%,

5/01/2025

75,000

73,362

3.48%,

12/01/2027

60,000

55,685

4.20%,

5/01/2030

25,000

22,956

IDEX

Corp.

,

2.63%

,

6/15/2031

25,000

20,573

Illinois

Tool

Works,

Inc.

2.65%,

11/15/2026

35,000

33,029

3.90%,

9/01/2042

215,000

174,357

Ingersoll

Rand,

Inc.

5.40%,

8/14/2028

25,000

24,947

5.70%,

8/14/2033

20,000

19,866

Jabil,

Inc.

4.25%,

5/15/2027

50,000

47,919

3.95%,

1/12/2028

10,000

9,381

Jacobs

Engineering

Group,

Inc.

6.35%,

8/18/2028

10,000

10,176

5.90%,

3/01/2033

50,000

49,247

JB

Hunt

Transport

Services,

Inc.

,

3.88%

,

3/01/2026

37,000

35,950

John

Deere

Capital

Corp.

3.40%,

6/06/2025

505,000

494,354

4.95%,

6/06/2025

10,000

9,956

4.80%,

1/09/2026

183,000

181,780

4.75%,

6/08/2026

10,000

9,896

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

John

Deere

Capital

Corp.

(continued)

1.05%,

6/17/2026

35,000

32,052

5.15%,

9/08/2026

10,000

9,979

2.25%,

9/14/2026

85,000

79,288

1.70%,

1/11/2027

60,000

54,804

2.35%,

3/08/2027

(a)

50,000

46,214

4.15%,

9/15/2027

135,000

130,821

4.90%,

3/03/2028

35,000

34,703

4.95%,

7/14/2028

49,000

48,605

2.80%,

7/18/2029

50,000

44,648

2.45%,

1/09/2030

25,000

21,664

4.70%,

6/10/2030

215,000

209,397

1.45%,

1/15/2031

125,000

99,016

4.90%,

3/07/2031

300,000

293,127

Series

I,

5.15%,

9/08/2033

20,000

19,774

Johnson

Controls

International

PLC

,

4.50%

,

2/15/2047

200,000

162,180

Keysight

Technologies,

Inc.

,

3.00%

,

10/30/2029

88,000

77,147

Kirby

Corp.

,

4.20%

,

3/01/2028

65,000

62,328

L3Harris

Technologies,

Inc.

4.40%,

6/15/2028

100,000

95,746

4.40%,

6/15/2028

100,000

95,834

2.90%,

12/15/2029

80,000

69,764

4.85%,

4/27/2035

100,000

92,448

5.60%,

7/31/2053

200,000

192,796

Lafarge

SA

,

7.13%

,

7/15/2036

40,000

42,720

Lennox

International,

Inc.

,

5.50%

,

9/15/2028

20,000

19,928

Lockheed

Martin

Corp.

3.55%,

1/15/2026

54,000

52,479

5.10%,

11/15/2027

120,000

119,941

5.25%,

1/15/2033

100,000

99,859

4.75%,

2/15/2034

274,000

261,835

4.50%,

5/15/2036

125,000

114,242

4.07%,

12/15/2042

75,000

61,833

3.80%,

3/01/2045

90,000

70,080

4.09%,

9/15/2052

100,000

78,786

4.15%,

6/15/2053

250,000

198,142

5.70%,

11/15/2054

90,000

90,961

Martin

Marietta

Materials,

Inc.

3.50%,

12/15/2027

25,000

23,373

4.25%,

12/15/2047

65,000

51,859

3.20%,

7/15/2051

50,000

32,980

Masco

Corp.

,

2.00%

,

10/01/2030

345,000

275,912

Mohawk

Industries,

Inc.

5.85%,

9/18/2028

20,000

20,215

3.63%,

5/15/2030

10,000

8,965

Nordson

Corp.

,

5.80%

,

9/15/2033

10,000

10,099

Norfolk

Southern

Corp.

2.55%,

11/01/2029

189,000

163,289

5.05%,

8/01/2030

155,000

152,331

4.45%,

3/01/2033

(a)

110,000

102,463

4.84%,

10/01/2041

50,000

44,707

4.45%,

6/15/2045

25,000

20,672

4.15%,

2/28/2048

50,000

39,047

3.05%,

5/15/2050

290,000

183,794

2.90%,

8/25/2051

50,000

30,315

4.05%,

8/15/2052

145,000

109,306

4.55%,

6/01/2053

85,000

70,288

96

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

Norfolk

Southern

Corp.

(continued)

5.35%,

8/01/2054

(a)

50,000

46,555

Northrop

Grumman

Corp.

3.20%,

2/01/2027

15,000

14,235

3.25%,

1/15/2028

90,000

83,791

5.05%,

11/15/2040

20,000

18,495

4.75%,

6/01/2043

35,000

30,813

4.03%,

10/15/2047

100,000

77,264

5.25%,

5/01/2050

79,000

73,379

4.95%,

3/15/2053

350,000

310,132

nVent

Finance

Sarl

,

2.75%

,

11/15/2031

100,000

80,505

Oshkosh

Corp.

,

3.10%

,

3/01/2030

105,000

91,495

Otis

Worldwide

Corp.

2.29%,

4/05/2027

40,000

36,890

5.25%,

8/16/2028

147,000

146,569

3.11%,

2/15/2040

250,000

181,753

3.36%,

2/15/2050

50,000

34,092

Owens

Corning

3.40%,

8/15/2026

199,000

189,361

3.88%,

6/01/2030

70,000

63,902

Packaging

Corp.

of

America

3.40%,

12/15/2027

45,000

42,069

3.00%,

12/15/2029

103,000

90,586

4.05%,

12/15/2049

45,000

34,087

Parker-Hannifin

Corp.

3.25%,

6/14/2029

25,000

22,702

4.50%,

9/15/2029

260,000

250,643

4.10%,

3/01/2047

70,000

54,461

4.00%,

6/14/2049

210,000

161,877

Regal

Rexnord

Corp.

6.05%,

2/15/2026

(b)

50,000

50,060

6.05%,

4/15/2028

(b)

410,000

409,361

6.30%,

2/15/2030

(b)

100,000

100,534

6.40%,

4/15/2033

(b)

17,000

17,105

Republic

Services,

Inc.

3.38%,

11/15/2027

23,000

21,607

4.88%,

4/01/2029

100,000

98,083

2.30%,

3/01/2030

50,000

42,291

5.00%,

4/01/2034

100,000

96,433

3.05%,

3/01/2050

25,000

16,402

Rockwell

Automation,

Inc.

,

2.80%

,

8/15/2061

162,000

89,983

RTX

Corp.

5.75%,

11/08/2026

50,000

50,365

3.13%,

5/04/2027

58,000

54,432

4.13%,

11/16/2028

80,000

76,048

5.75%,

1/15/2029

50,000

50,787

2.25%,

7/01/2030

200,000

166,907

6.00%,

3/15/2031

50,000

51,277

1.90%,

9/01/2031

75,000

58,824

2.38%,

3/15/2032

77,000

61,576

6.10%,

3/15/2034

150,000

155,139

6.05%,

6/01/2036

20,000

20,321

4.45%,

11/16/2038

700,000

604,804

4.50%,

6/01/2042

27,000

22,937

4.80%,

12/15/2043

31,000

26,908

4.15%,

5/15/2045

130,000

102,346

4.35%,

4/15/2047

205,000

165,473

4.05%,

5/04/2047

200,000

153,424

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

RTX

Corp.

(continued)

4.63%,

11/16/2048

55,000

46,310

2.82%,

9/01/2051

130,000

77,604

3.03%,

3/15/2052

(a)

100,000

62,219

5.38%,

2/27/2053

50,000

46,663

6.40%,

3/15/2054

50,000

53,633

Ryder

System,

Inc.

4.63%,

6/01/2025

82,000

80,912

5.65%,

3/01/2028

45,000

45,279

5.25%,

6/01/2028

225,000

223,151

Snap-On,

Inc.

3.25%,

3/01/2027

25,000

23,792

4.10%,

3/01/2048

35,000

28,036

Sonoco

Products

Co.

2.25%,

2/01/2027

15,000

13,759

2.85%,

2/01/2032

101,000

83,068

Stanley

Black

&

Decker,

Inc.

3.40%,

3/01/2026

46,000

44,234

6.00%,

3/06/2028

150,000

152,478

4.25%,

11/15/2028

362,000

344,555

2.30%,

3/15/2030

75,000

62,286

Teledyne

Technologies,

Inc.

1.60%,

4/01/2026

45,000

41,706

2.75%,

4/01/2031

215,000

179,030

Textron,

Inc.

4.00%,

3/15/2026

25,000

24,269

3.65%,

3/15/2027

40,000

37,976

3.38%,

3/01/2028

84,000

77,540

6.10%,

11/15/2033

50,000

50,813

Trane

Technologies

Global

Holding

Co.

Ltd.

3.75%,

8/21/2028

10,000

9,395

5.75%,

6/15/2043

26,000

25,836

4.30%,

2/21/2048

80,000

64,318

Tyco

Electronics

Group

SA

,

3.13%

,

8/15/2027

135,000

126,209

Union

Pacific

Corp.

3.75%,

7/15/2025

30,000

29,401

3.00%,

4/15/2027

67,000

63,048

3.95%,

9/10/2028

95,000

90,871

3.70%,

3/01/2029

38,000

35,600

2.40%,

2/05/2030

164,000

140,745

2.80%,

2/14/2032

190,000

160,310

3.60%,

9/15/2037

50,000

41,018

3.55%,

8/15/2039

128,000

101,460

3.20%,

5/20/2041

115,000

84,980

4.05%,

3/01/2046

125,000

98,029

3.35%,

8/15/2046

35,000

24,386

4.00%,

4/15/2047

100,000

77,601

4.50%,

9/10/2048

196,000

164,231

4.30%,

3/01/2049

60,000

48,484

3.25%,

2/05/2050

75,000

51,108

3.50%,

2/14/2053

140,000

98,203

4.95%,

5/15/2053

10,000

9,083

3.95%,

8/15/2059

80,000

58,362

2.97%,

9/16/2062

366,000

212,254

4.10%,

9/15/2067

15,000

11,075

3.75%,

2/05/2070

50,000

34,088

3.80%,

4/06/2071

50,000

34,416

3.85%,

2/14/2072

15,000

10,446

97

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Industrial

–

1.8%

(continued)

United

Parcel

Service,

Inc.

3.05%,

11/15/2027

145,000

135,105

2.50%,

9/01/2029

200,000

175,693

4.88%,

3/03/2033

367,000

355,669

4.25%,

3/15/2049

202,000

164,325

5.30%,

4/01/2050

135,000

128,820

5.05%,

3/03/2053

(a)

117,000

107,921

Veralto

Corp.

5.50%,

9/18/2026

(b)

25,000

24,851

5.35%,

9/18/2028

(b)

15,000

14,890

5.45%,

9/18/2033

(b)

25,000

24,536

Vontier

Corp.

1.80%,

4/01/2026

70,000

64,746

2.40%,

4/01/2028

35,000

30,581

2.95%,

4/01/2031

365,000

297,210

Vulcan

Materials

Co.

3.90%,

4/01/2027

55,000

52,939

4.70%,

3/01/2048

50,000

42,326

Waste

Connections,

Inc.

3.20%,

6/01/2032

110,000

93,582

5.00%,

3/01/2034

200,000

191,324

3.05%,

4/01/2050

70,000

45,050

Waste

Management,

Inc.

0.75%,

11/15/2025

83,000

77,315

3.15%,

11/15/2027

30,000

28,089

4.88%,

2/15/2029

100,000

98,791

2.00%,

6/01/2029

74,000

63,521

4.15%,

4/15/2032

215,000

199,553

4.10%,

3/01/2045

25,000

20,485

4.15%,

7/15/2049

15,000

12,065

2.50%,

11/15/2050

20,000

11,642

Westinghouse

Air

Brake

Technologies

Corp.

3.20%,

6/15/2025

60,000

58,235

3.45%,

11/15/2026

150,000

142,193

4.70%,

9/15/2028

300,000

288,785

WRKCo,

Inc.

4.65%,

3/15/2026

245,000

240,369

4.00%,

3/15/2028

50,000

47,279

Xylem,

Inc.

3.25%,

11/01/2026

12,000

11,368

4.38%,

11/01/2046

25,000

20,334

31,651,551

Technology

–

1.8%

Adobe,

Inc.

,

2.15%

,

2/01/2027

240,000

222,029

Amdocs

Ltd.

,

2.54%

,

6/15/2030

140,000

117,206

Analog

Devices,

Inc.

3.45%,

6/15/2027

192,000

181,851

2.95%,

10/01/2051

105,000

66,623

Apple,

Inc.

1.13%,

5/11/2025

15,000

14,364

3.20%,

5/13/2025

125,000

122,419

4.42%,

5/08/2026

15,000

14,819

2.45%,

8/04/2026

200,000

188,589

3.35%,

2/09/2027

281,000

268,421

3.20%,

5/11/2027

25,000

23,697

3.00%,

6/20/2027

110,000

103,458

2.90%,

9/12/2027

62,000

57,876

3.00%,

11/13/2027

25,000

23,421

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Technology

–

1.8%

(continued)

Apple,

Inc.

(continued)

4.00%,

5/10/2028

250,000

241,704

1.40%,

8/05/2028

105,000

90,645

3.25%,

8/08/2029

166,000

152,543

2.20%,

9/11/2029

150,000

130,358

4.15%,

5/10/2030

116,000

111,497

1.65%,

5/11/2030

350,000

288,670

1.25%,

8/20/2030

138,000

110,170

1.65%,

2/08/2031

310,000

250,339

1.70%,

8/05/2031

50,000

39,910

3.35%,

8/08/2032

(a)

155,000

137,412

4.30%,

5/10/2033

(a)

15,000

14,448

2.38%,

2/08/2041

60,000

40,203

3.85%,

5/04/2043

411,000

336,030

4.65%,

2/23/2046

257,000

231,290

3.85%,

8/04/2046

216,000

171,475

2.95%,

9/11/2049

300,000

198,700

2.65%,

5/11/2050

535,000

330,211

2.65%,

2/08/2051

251,000

153,389

2.70%,

8/05/2051

300,000

185,091

3.95%,

8/08/2052

75,000

59,069

4.85%,

5/10/2053

(a)

85,000

78,952

2.55%,

8/20/2060

(a)

50,000

29,008

2.80%,

2/08/2061

10,000

5,883

2.85%,

8/05/2061

100,000

59,363

Applied

Materials,

Inc.

1.75%,

6/01/2030

180,000

148,349

5.10%,

10/01/2035

30,000

29,709

4.35%,

4/01/2047

75,000

63,876

2.75%,

6/01/2050

10,000

6,403

AutoDesk,

Inc.

,

2.85%

,

1/15/2030

91,000

79,298

Booz

Allen

Hamilton,

Inc.

,

5.95%

,

8/04/2033

15,000

15,099

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

3.88%,

1/15/2027

180,000

172,774

3.50%,

1/15/2028

337,000

314,447

Broadcom,

Inc.

3.15%,

11/15/2025

125,000

120,456

1.95%,

2/15/2028

(b)

30,000

26,352

4.11%,

9/15/2028

200,000

189,569

4.00%,

4/15/2029

(b)

50,000

46,759

2.45%,

2/15/2031

(b)

330,000

271,238

4.15%,

4/15/2032

(b)

115,000

103,630

4.30%,

11/15/2032

77,000

70,108

2.60%,

2/15/2033

(b)

70,000

55,062

3.42%,

4/15/2033

(b)

95,000

79,789

3.47%,

4/15/2034

(b)

1,000,000

828,417

3.19%,

11/15/2036

(b)

125,000

95,879

4.93%,

5/15/2037

(b)

50,000

45,693

3.50%,

2/15/2041

(b)

205,000

152,294

3.75%,

2/15/2051

(b)

65,000

46,613

Broadridge

Financial

Solutions,

Inc.

,

3.40%

,

6/27/2026

155,000

148,148

CDW

LLC

/

CDW

Finance

Corp.

4.13%,

5/01/2025

35,000

34,378

2.67%,

12/01/2026

55,000

50,950

4.25%,

4/01/2028

50,000

47,143

3.28%,

12/01/2028

198,000

177,107

98

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Technology

–

1.8%

(continued)

CGI,

Inc.

,

1.45%

,

9/14/2026

115,000

104,169

Concentrix

Corp.

6.65%,

8/02/2026

15,000

15,115

6.60%,

8/02/2028

(a)

310,000

309,199

Dell

International

LLC

/

EMC

Corp.

5.85%,

7/15/2025

478,000

478,751

4.90%,

10/01/2026

100,000

98,440

5.30%,

10/01/2029

168,000

166,232

6.20%,

7/15/2030

110,000

113,123

3.38%,

12/15/2041

20,000

14,215

8.35%,

7/15/2046

100,000

124,196

3.45%,

12/15/2051

40,000

26,294

DXC

Technology

Co.

,

1.80%

,

9/15/2026

45,000

40,750

Electronic

Arts,

Inc.

,

1.85%

,

2/15/2031

25,000

19,966

Fidelity

National

Information

Services,

Inc.

1.15%,

3/01/2026

15,000

13,840

1.65%,

3/01/2028

(a)

480,000

417,024

5.10%,

7/15/2032

96,000

93,086

3.10%,

3/01/2041

50,000

34,736

Fiserv,

Inc.

3.20%,

7/01/2026

127,000

120,915

5.45%,

3/02/2028

25,000

24,928

5.38%,

8/21/2028

65,000

64,587

4.20%,

10/01/2028

150,000

142,108

3.50%,

7/01/2029

188,000

171,261

2.65%,

6/01/2030

200,000

170,060

5.60%,

3/02/2033

482,000

477,409

5.63%,

8/21/2033

25,000

24,815

4.40%,

7/01/2049

130,000

103,916

Fortinet,

Inc.

,

1.00%

,

3/15/2026

65,000

59,652

Hewlett

Packard

Enterprise

Co.

4.90%,

10/15/2025

199,000

196,599

5.25%,

7/01/2028

(a)

10,000

9,933

6.20%,

10/15/2035

50,000

51,412

6.35%,

10/15/2045

80,000

81,296

HP,

Inc.

2.20%,

6/17/2025

215,000

206,636

1.45%,

6/17/2026

150,000

137,571

3.00%,

6/17/2027

220,000

204,677

4.75%,

1/15/2028

20,000

19,535

6.00%,

9/15/2041

113,000

111,938

Intel

Corp.

4.88%,

2/10/2026

115,000

113,957

2.60%,

5/19/2026

75,000

71,000

3.15%,

5/11/2027

55,000

51,718

4.88%,

2/10/2028

260,000

256,161

2.45%,

11/15/2029

155,000

133,907

5.13%,

2/10/2030

50,000

49,505

3.90%,

3/25/2030

150,000

138,563

4.00%,

12/15/2032

31,000

27,922

5.20%,

2/10/2033

550,000

536,912

4.60%,

3/25/2040

95,000

83,897

2.80%,

8/12/2041

50,000

33,665

5.63%,

2/10/2043

75,000

72,713

4.10%,

5/19/2046

9,000

7,058

3.73%,

12/08/2047

500,000

358,165

4.75%,

3/25/2050

150,000

125,868

4.90%,

8/05/2052

70,000

59,949

5.70%,

2/10/2053

70,000

66,836

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Technology

–

1.8%

(continued)

Intel

Corp.

(continued)

3.10%,

2/15/2060

120,000

70,563

5.05%,

8/05/2062

75,000

64,123

5.90%,

2/10/2063

125,000

121,615

International

Business

Machines

Corp.

4.00%,

7/27/2025

160,000

157,165

3.45%,

2/19/2026

400,000

387,060

3.30%,

1/27/2027

315,000

299,641

1.70%,

5/15/2027

50,000

44,935

4.15%,

7/27/2027

182,000

175,685

4.50%,

2/06/2028

215,000

209,628

4.15%,

5/15/2039

100,000

83,686

4.00%,

6/20/2042

110,000

87,624

4.70%,

2/19/2046

210,000

181,347

2.95%,

5/15/2050

160,000

99,031

4.90%,

7/27/2052

200,000

174,640

5.10%,

2/06/2053

65,000

58,826

7.13%,

12/01/2096

(a)

125,000

149,997

Intuit,

Inc.

0.95%,

7/15/2025

220,000

208,385

5.25%,

9/15/2026

15,000

15,027

1.35%,

7/15/2027

10,000

8,867

5.13%,

9/15/2028

175,000

174,481

1.65%,

7/15/2030

69,000

55,936

5.20%,

9/15/2033

25,000

24,680

5.50%,

9/15/2053

85,000

83,022

KLA

Corp.

4.10%,

3/15/2029

50,000

47,751

3.30%,

3/01/2050

80,000

54,696

4.95%,

7/15/2052

126,000

114,319

5.25%,

7/15/2062

220,000

203,804

Kyndryl

Holdings,

Inc.

2.70%,

10/15/2028

50,000

43,657

3.15%,

10/15/2031

132,000

107,580

6.35%,

2/20/2034

300,000

298,501

4.10%,

10/15/2041

25,000

18,318

LAM

Research

Corp.

2.88%,

6/15/2050

25,000

15,908

3.13%,

6/15/2060

115,000

70,695

Marvell

Technology,

Inc.

5.75%,

2/15/2029

10,000

10,047

5.95%,

9/15/2033

10,000

10,051

Micron

Technology,

Inc.

4.19%,

2/15/2027

225,000

217,215

5.38%,

4/15/2028

10,000

9,944

6.75%,

11/01/2029

140,000

147,181

4.66%,

2/15/2030

48,000

45,661

5.88%,

2/09/2033

50,000

50,168

5.88%,

9/15/2033

15,000

15,058

3.37%,

11/01/2041

150,000

106,479

Microsoft

Corp.

3.13%,

11/03/2025

21,000

20,375

2.40%,

8/08/2026

825,000

777,260

3.40%,

9/15/2026

(b)

30,000

28,845

3.30%,

2/06/2027

469,000

449,303

1.35%,

9/15/2030

(a)(b)

375,000

300,790

3.50%,

2/12/2035

100,000

88,285

4.20%,

11/03/2035

50,000

46,769

99

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Technology

–

1.8%

(continued)

Microsoft

Corp.

(continued)

4.50%,

10/01/2040

25,000

23,588

4.45%,

11/03/2045

55,000

49,714

3.70%,

8/08/2046

115,000

91,092

4.25%,

2/06/2047

190,000

167,527

4.50%,

6/15/2047

(b)

25,000

22,266

2.53%,

6/01/2050

539,000

329,744

2.92%,

3/17/2052

245,000

161,199

4.00%,

2/12/2055

150,000

121,580

3.95%,

8/08/2056

125,000

98,780

3.04%,

3/17/2062

181,000

115,506

NetApp,

Inc.

,

1.88%

,

6/22/2025

65,000

62,179

NVIDIA

Corp.

1.55%,

6/15/2028

175,000

153,215

2.85%,

4/01/2030

124,000

110,012

2.00%,

6/15/2031

235,000

192,446

3.50%,

4/01/2040

125,000

100,576

3.50%,

4/01/2050

40,000

29,720

NXP

BV

/

NXP

Funding

LLC

,

5.55%

,

12/01/2028

40,000

39,925

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

2.70%,

5/01/2025

105,000

102,074

3.88%,

6/18/2026

45,000

43,455

4.30%,

6/18/2029

20,000

18,867

2.65%,

2/15/2032

26,000

21,023

3.25%,

5/11/2041

152,000

107,080

3.25%,

11/30/2051

80,000

50,808

Oracle

Corp.

2.95%,

5/15/2025

150,000

145,869

5.80%,

11/10/2025

30,000

30,083

1.65%,

3/25/2026

50,000

46,463

2.65%,

7/15/2026

245,000

230,141

2.80%,

4/01/2027

322,000

299,263

3.25%,

11/15/2027

210,000

195,167

2.30%,

3/25/2028

125,000

111,217

2.95%,

4/01/2030

22,000

19,110

2.88%,

3/25/2031

10,000

8,457

6.25%,

11/09/2032

47,000

48,770

4.90%,

2/06/2033

700,000

662,919

4.30%,

7/08/2034

300,000

266,469

3.90%,

5/15/2035

163,000

137,488

3.85%,

7/15/2036

225,000

184,170

3.80%,

11/15/2037

170,000

136,077

6.13%,

7/08/2039

50,000

50,235

3.60%,

4/01/2040

500,000

374,250

4.50%,

7/08/2044

25,000

20,176

4.13%,

5/15/2045

200,000

152,381

4.00%,

11/15/2047

130,000

95,220

3.60%,

4/01/2050

185,000

125,165

3.95%,

3/25/2051

400,000

285,838

5.55%,

2/06/2053

150,000

137,665

3.85%,

4/01/2060

525,000

349,541

QUALCOMM,

Inc.

2.15%,

5/20/2030

100,000

84,701

4.65%,

5/20/2035

50,000

47,578

4.80%,

5/20/2045

277,000

250,289

4.30%,

5/20/2047

205,000

170,396

4.50%,

5/20/2052

75,000

63,151

6.00%,

5/20/2053

60,000

63,008

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Technology

–

1.8%

(continued)

Roper

Technologies,

Inc.

1.00%,

9/15/2025

70,000

65,742

3.85%,

12/15/2025

50,000

48,703

3.80%,

12/15/2026

15,000

14,413

4.20%,

9/15/2028

100,000

95,502

1.75%,

2/15/2031

125,000

98,176

Salesforce,

Inc.

3.70%,

4/11/2028

615,000

585,255

1.50%,

7/15/2028

70,000

60,517

2.70%,

7/15/2041

100,000

68,220

2.90%,

7/15/2051

75,000

47,146

ServiceNow,

Inc.

,

1.40%

,

9/01/2030

207,000

163,618

Take-Two

Interactive

Software,

Inc.

5.00%,

3/28/2026

65,000

64,209

3.70%,

4/14/2027

35,000

33,292

4.95%,

3/28/2028

129,000

126,233

Teledyne

FLIR

LLC

,

2.50%

,

8/01/2030

25,000

20,810

Texas

Instruments,

Inc.

1.13%,

9/15/2026

50,000

45,493

2.90%,

11/03/2027

14,000

13,026

4.60%,

2/15/2028

45,000

44,273

2.25%,

9/04/2029

38,000

32,991

1.90%,

9/15/2031

50,000

40,444

4.15%,

5/15/2048

350,000

283,287

4.10%,

8/16/2052

100,000

80,201

5.00%,

3/14/2053

65,000

59,473

5.05%,

5/18/2063

135,000

122,289

TSMC

Arizona

Corp.

1.75%,

10/25/2026

480,000

439,335

2.50%,

10/25/2031

260,000

216,173

3.25%,

10/25/2051

75,000

53,483

VMware

LLC

4.50%,

5/15/2025

55,000

54,342

1.40%,

8/15/2026

50,000

45,464

1.80%,

8/15/2028

45,000

38,563

4.70%,

5/15/2030

22,000

20,873

2.20%,

8/15/2031

210,000

166,005

Western

Digital

Corp.

,

3.10%

,

2/01/2032

300,000

234,062

Xilinx,

Inc.

,

2.38%

,

6/01/2030

40,000

33,989

31,660,712

Utilities

–

2.3%

AEP

Texas,

Inc.

Series

I,

2.10%,

7/01/2030

115,000

93,993

3.80%,

10/01/2047

54,000

37,813

5.25%,

5/15/2052

95,000

83,611

AEP

Transmission

Co.

LLC

4.25%,

9/15/2048

90,000

70,777

3.80%,

6/15/2049

30,000

21,795

5.40%,

3/15/2053

71,000

66,385

AES

Corp.

(The)

1.38%,

1/15/2026

200,000

185,272

5.45%,

6/01/2028

305,000

300,344

2.45%,

1/15/2031

50,000

40,239

Alabama

Power

Co.

3.94%,

9/01/2032

110,000

99,378

5.85%,

11/15/2033

500,000

510,070

3.75%,

3/01/2045

50,000

37,586

3.45%,

10/01/2049

250,000

173,747

100

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Alabama

Power

Co.

(continued)

3.13%,

7/15/2051

15,000

9,703

Ameren

Corp.

3.65%,

2/15/2026

35,000

33,733

5.70%,

12/01/2026

50,000

50,121

1.75%,

3/15/2028

50,000

43,475

Ameren

Illinois

Co.

1.55%,

11/15/2030

10,000

7,881

3.85%,

9/01/2032

20,000

17,783

2.90%,

6/15/2051

110,000

67,167

American

Electric

Power

Co.,

Inc.

5.75%,

11/01/2027

200,000

201,941

Series

J,

4.30%,

12/01/2028

40,000

37,982

2.30%,

3/01/2030

150,000

124,617

5.63%,

3/01/2033

265,000

259,231

American

Water

Capital

Corp.

2.95%,

9/01/2027

100,000

92,367

3.75%,

9/01/2028

54,000

50,691

3.45%,

6/01/2029

26,000

23,772

2.80%,

5/01/2030

25,000

21,575

6.59%,

10/15/2037

60,000

64,720

4.00%,

12/01/2046

25,000

19,449

3.75%,

9/01/2047

65,000

48,183

3.45%,

5/01/2050

250,000

172,815

Appalachian

Power

Co.

,

5.65%

,

4/01/2034

250,000

242,912

Arizona

Public

Service

Co.

2.60%,

8/15/2029

350,000

304,545

2.20%,

12/15/2031

185,000

146,405

4.25%,

3/01/2049

50,000

38,094

3.50%,

12/01/2049

65,000

43,182

Atmos

Energy

Corp.

5.90%,

11/15/2033

10,000

10,264

4.13%,

3/15/2049

115,000

90,208

3.38%,

9/15/2049

50,000

34,137

2.85%,

2/15/2052

110,000

66,737

6.20%,

11/15/2053

10,000

10,635

Avangrid,

Inc.

,

3.80%

,

6/01/2029

15,000

13,708

Avista

Corp.

,

4.00%

,

4/01/2052

60,000

43,638

Baltimore

Gas

&

Electric

Co.

3.50%,

8/15/2046

120,000

85,295

5.40%,

6/01/2053

10,000

9,447

Berkshire

Hathaway

Energy

Co.

3.25%,

4/15/2028

457,000

423,347

3.70%,

7/15/2030

142,000

129,403

1.65%,

5/15/2031

125,000

97,174

6.13%,

4/01/2036

275,000

281,191

4.50%,

2/01/2045

200,000

169,292

4.45%,

1/15/2049

150,000

120,301

2.85%,

5/15/2051

85,000

50,856

Black

Hills

Corp.

3.95%,

1/15/2026

95,000

91,996

3.15%,

1/15/2027

15,000

14,050

3.05%,

10/15/2029

507,000

444,195

6.15%,

5/15/2034

110,000

109,888

CenterPoint

Energy

Houston

Electric

LLC

5.20%,

10/01/2028

10,000

9,964

3.95%,

3/01/2048

500,000

384,840

Series

AD,

2.90%,

7/01/2050

115,000

71,890

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

CenterPoint

Energy

Houston

Electric

LLC

(continued)

Series

AJ,

4.85%,

10/01/2052

50,000

43,500

CenterPoint

Energy

Resources

Corp.

5.25%,

3/01/2028

175,000

173,582

1.75%,

10/01/2030

97,000

77,365

CenterPoint

Energy,

Inc.

5.25%,

8/10/2026

10,000

9,927

3.70%,

9/01/2049

20,000

13,881

Cleveland

Electric

Illuminating

Co.

(The)

,

5.95%

,

12/15/2036

30,000

29,284

Commonwealth

Edison

Co.

2.55%,

6/15/2026

135,000

127,610

3.70%,

8/15/2028

25,000

23,479

3.70%,

3/01/2045

100,000

74,213

Series

123,

3.75%,

8/15/2047

100,000

73,303

4.00%,

3/01/2048

20,000

15,212

4.00%,

3/01/2049

20,000

15,072

5.30%,

2/01/2053

100,000

92,344

Connecticut

Light

&

Power

Co.

(The)

Series

A,

3.20%,

3/15/2027

175,000

165,255

Series

A,

2.05%,

7/01/2031

110,000

87,850

4.30%,

4/15/2044

200,000

165,325

5.25%,

1/15/2053

42,000

39,360

Consolidated

Edison

Co.

of

New

York,

Inc.

Series

20A,

3.35%,

4/01/2030

50,000

45,012

2.40%,

6/15/2031

325,000

268,699

4.50%,

12/01/2045

200,000

166,005

Series

E,

4.65%,

12/01/2048

100,000

83,713

6.15%,

11/15/2052

100,000

103,875

4.63%,

12/01/2054

30,000

24,766

Series

C,

4.30%,

12/01/2056

25,000

19,281

Series

C,

4.00%,

11/15/2057

50,000

36,556

4.50%,

5/15/2058

75,000

59,698

3.70%,

11/15/2059

90,000

60,426

Series

C,

3.00%,

12/01/2060

20,000

11,487

3.60%,

6/15/2061

200,000

134,352

Constellation

Energy

Generation

LLC

3.25%,

6/01/2025

255,000

248,461

6.13%,

1/15/2034

45,000

46,041

5.75%,

10/01/2041

30,000

28,577

5.60%,

6/15/2042

55,000

51,650

6.50%,

10/01/2053

55,000

57,082

Consumers

Energy

Co.

4.90%,

2/15/2029

10,000

9,829

4.63%,

5/15/2033

50,000

46,949

3.75%,

2/15/2050

80,000

59,500

3.50%,

8/01/2051

100,000

70,983

4.20%,

9/01/2052

195,000

153,758

Delmarva

Power

&

Light

Co.

,

4.15%

,

5/15/2045

50,000

38,458

Dominion

Energy

South

Carolina,

Inc.

5.45%,

2/01/2041

25,000

23,784

4.60%,

6/15/2043

50,000

42,576

6.25%,

10/15/2053

10,000

10,584

5.10%,

6/01/2065

50,000

43,635

Dominion

Energy,

Inc.

Series

A,

1.45%,

4/15/2026

85,000

78,454

Series

D,

2.85%,

8/15/2026

100,000

94,125

101

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Dominion

Energy,

Inc.

(continued)

Series

C,

3.38%,

4/01/2030

70,000

62,013

5.38%,

11/15/2032

25,000

24,289

Series

E,

6.30%,

3/15/2033

25,000

25,556

Series

F,

5.25%,

8/01/2033

50,000

47,769

7.00%,

6/15/2038

112,000

118,773

Series

B,

3.30%,

4/15/2041

25,000

17,799

Series

C,

4.90%,

8/01/2041

25,000

21,660

DTE

Electric

Co.

Series

A,

1.90%,

4/01/2028

10,000

8,828

3.70%,

3/15/2045

120,000

89,930

DTE

Energy

Co.

2.85%,

10/01/2026

20,000

18,776

4.88%,

6/01/2028

20,000

19,461

Duke

Energy

Carolinas

LLC

2.95%,

12/01/2026

25,000

23,604

2.85%,

3/15/2032

115,000

96,125

4.95%,

1/15/2033

100,000

96,234

5.30%,

2/15/2040

50,000

47,443

4.25%,

12/15/2041

30,000

24,550

3.75%,

6/01/2045

75,000

55,120

3.88%,

3/15/2046

75,000

56,366

3.70%,

12/01/2047

50,000

35,753

5.35%,

1/15/2053

100,000

92,882

5.40%,

1/15/2054

29,000

27,261

Duke

Energy

Corp.

0.90%,

9/15/2025

105,000

98,374

5.00%,

12/08/2025

20,000

19,833

2.65%,

9/01/2026

308,000

288,647

5.00%,

12/08/2027

200,000

197,171

4.30%,

3/15/2028

15,000

14,404

2.45%,

6/01/2030

95,000

79,984

2.55%,

6/15/2031

50,000

41,111

5.75%,

9/15/2033

10,000

9,963

4.80%,

12/15/2045

250,000

210,110

3.75%,

9/01/2046

40,000

28,525

4.20%,

6/15/2049

25,000

18,877

3.50%,

6/15/2051

62,000

40,926

5.00%,

8/15/2052

495,000

421,499

6.10%,

9/15/2053

85,000

84,872

Duke

Energy

Florida

LLC

3.80%,

7/15/2028

20,000

18,907

1.75%,

6/15/2030

100,000

81,181

2.40%,

12/15/2031

136,000

110,850

5.88%,

11/15/2033

550,000

562,142

6.20%,

11/15/2053

50,000

52,102

Duke

Energy

Indiana

LLC

3.75%,

5/15/2046

173,000

127,121

Series

YYY,

3.25%,

10/01/2049

25,000

16,448

Duke

Energy

Ohio,

Inc.

,

3.70%

,

6/15/2046

50,000

36,416

Duke

Energy

Progress

LLC

5.25%,

3/15/2033

150,000

147,209

5.10%,

3/15/2034

200,000

193,268

4.38%,

3/30/2044

100,000

81,731

3.60%,

9/15/2047

50,000

35,142

5.35%,

3/15/2053

200,000

185,237

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Duke

Energy

Progress

NC

Storm

Funding

LLC

,

Series

A-3

,

2.80%

,

7/01/2041

50,000

35,637

Edison

International

4.13%,

3/15/2028

105,000

98,830

5.25%,

11/15/2028

10,000

9,798

El

Paso

Electric

Co.

,

6.00%

,

5/15/2035

28,000

27,332

Emera

US

Finance

LP

3.55%,

6/15/2026

10,000

9,520

2.64%,

6/15/2031

230,000

184,688

4.75%,

6/15/2046

50,000

39,042

ENEL

Americas

SA

,

4.00%

,

10/25/2026

50,000

47,719

ENEL

Chile

SA

,

4.88%

,

6/12/2028

100,000

95,232

Entergy

Arkansas

LLC

,

3.50%

,

4/01/2026

50,000

48,319

Entergy

Corp.

2.95%,

9/01/2026

72,000

67,871

2.80%,

6/15/2030

20,000

17,046

Entergy

Louisiana

LLC

2.40%,

10/01/2026

35,000

32,612

1.60%,

12/15/2030

10,000

7,827

3.05%,

6/01/2031

445,000

379,013

2.35%,

6/15/2032

101,000

79,941

4.00%,

3/15/2033

160,000

142,350

4.95%,

1/15/2045

80,000

69,665

4.20%,

9/01/2048

60,000

46,516

5.70%,

3/15/2054

200,000

192,498

Entergy

Mississippi

LLC

,

2.85%

,

6/01/2028

155,000

141,027

Entergy

Texas,

Inc.

,

5.80%

,

9/01/2053

80,000

78,351

Essential

Utilities,

Inc.

2.70%,

4/15/2030

100,000

85,001

3.35%,

4/15/2050

15,000

9,882

Evergy

Kansas

Central,

Inc.

,

4.25%

,

12/01/2045

165,000

130,607

Evergy

Metro,

Inc.

,

Series

2020

,

2.25%

,

6/01/2030

40,000

33,285

Evergy,

Inc.

,

2.90%

,

9/15/2029

100,000

87,609

Eversource

Energy

Series

Q,

0.80%,

8/15/2025

80,000

74,952

4.75%,

5/15/2026

115,000

112,937

Series

U,

1.40%,

8/15/2026

31,000

28,112

5.45%,

3/01/2028

215,000

213,308

5.95%,

2/01/2029

50,000

50,556

Series

O,

4.25%,

4/01/2029

100,000

93,804

Series

R,

1.65%,

8/15/2030

100,000

78,434

5.13%,

5/15/2033

15,000

14,152

3.45%,

1/15/2050

120,000

78,983

Exelon

Corp.

3.40%,

4/15/2026

100,000

96,121

5.15%,

3/15/2028

248,000

244,681

4.70%,

4/15/2050

110,000

91,438

Florida

Power

&

Light

Co.

4.45%,

5/15/2026

140,000

137,807

Series

A,

3.30%,

5/30/2027

30,000

28,216

5.05%,

4/01/2028

90,000

89,569

4.40%,

5/15/2028

245,000

237,602

4.63%,

5/15/2030

10,000

9,689

4.80%,

5/15/2033

15,000

14,291

5.96%,

4/01/2039

25,000

25,783

3.80%,

12/15/2042

50,000

38,967

4.05%,

10/01/2044

50,000

40,047

102

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Florida

Power

&

Light

Co.

(continued)

3.95%,

3/01/2048

95,000

73,406

3.15%,

10/01/2049

25,000

16,602

2.88%,

12/04/2051

230,000

141,649

Georgia

Power

Co.

3.25%,

4/01/2026

50,000

47,898

4.65%,

5/16/2028

110,000

106,961

Series

B,

2.65%,

9/15/2029

300,000

262,147

4.30%,

3/15/2042

100,000

82,610

4.30%,

3/15/2043

25,000

20,284

Series

A,

3.25%,

3/15/2051

316,000

206,481

5.13%,

5/15/2052

145,000

131,453

Idaho

Power

Co.

Series

K,

4.20%,

3/01/2048

25,000

19,187

5.80%,

4/01/2054

50,000

48,479

Indiana

Michigan

Power

Co.

4.25%,

8/15/2048

500,000

385,691

3.25%,

5/01/2051

50,000

31,917

5.63%,

4/01/2053

100,000

95,708

Interstate

Power

&

Light

Co.

2.30%,

6/01/2030

15,000

12,480

6.25%,

7/15/2039

40,000

40,384

Kentucky

Utilities

Co.

,

5.45%

,

4/15/2033

25,000

24,829

Louisville

Gas

&

Electric

Co.

,

4.25%

,

4/01/2049

130,000

101,948

MidAmerican

Energy

Co.

3.65%,

4/15/2029

310,000

287,858

5.80%,

10/15/2036

50,000

50,249

3.65%,

8/01/2048

50,000

36,368

4.25%,

7/15/2049

270,000

216,828

3.15%,

4/15/2050

50,000

32,525

2.70%,

8/01/2052

150,000

87,587

5.85%,

9/15/2054

20,000

20,122

Mississippi

Power

Co.

,

Series

12-A

,

4.25%

,

3/15/2042

20,000

16,082

National

Fuel

Gas

Co.

3.95%,

9/15/2027

20,000

18,797

2.95%,

3/01/2031

100,000

82,127

National

Grid

PLC

5.60%,

6/12/2028

10,000

9,994

5.81%,

6/12/2033

15,000

14,868

National

Grid

USA

,

5.80%

,

4/01/2035

25,000

24,347

National

Rural

Utilities

Cooperative

Finance

Corp.

3.45%,

6/15/2025

250,000

243,911

3.25%,

11/01/2025

330,000

318,992

4.45%,

3/13/2026

50,000

49,194

1.00%,

6/15/2026

45,000

41,034

4.80%,

3/15/2028

257,000

252,843

5.05%,

9/15/2028

95,000

93,896

1.35%,

3/15/2031

70,000

53,442

Nevada

Power

Co.

Series

CC,

3.70%,

5/01/2029

255,000

237,499

Series

EE,

3.13%,

8/01/2050

25,000

15,588

6.00%,

3/15/2054

10,000

9,969

NextEra

Energy

Capital

Holdings,

Inc.

4.45%,

6/20/2025

14,000

13,804

5.75%,

9/01/2025

40,000

40,033

1.88%,

1/15/2027

175,000

159,118

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

NextEra

Energy

Capital

Holdings,

Inc.

(continued)

3.50%,

4/01/2029

85,000

77,603

2.75%,

11/01/2029

75,000

65,437

5.00%,

2/28/2030

(a)

80,000

78,189

2.25%,

6/01/2030

347,000

288,146

2.44%,

1/15/2032

240,000

192,945

5.00%,

7/15/2032

170,000

163,558

5.05%,

2/28/2033

160,000

153,401

3.00%,

1/15/2052

67,000

40,686

5.25%,

2/28/2053

90,000

81,322

3.80%,

3/15/2082

260,000

235,443

NiSource,

Inc.

3.49%,

5/15/2027

105,000

98,993

5.25%,

3/30/2028

10,000

9,896

5.95%,

6/15/2041

235,000

230,292

5.25%,

2/15/2043

35,000

31,661

4.80%,

2/15/2044

100,000

85,068

5.65%,

2/01/2045

50,000

46,702

4.38%,

5/15/2047

185,000

146,173

5.00%,

6/15/2052

176,000

152,006

Northern

States

Power

Co.

3.40%,

8/15/2042

25,000

18,464

4.00%,

8/15/2045

40,000

30,846

2.90%,

3/01/2050

35,000

21,798

5.10%,

5/15/2053

(a)

95,000

86,118

NSTAR

Electric

Co.

,

4.55%

,

6/01/2052

40,000

33,023

Oglethorpe

Power

Corp.

,

5.38%

,

11/01/2040

50,000

45,590

Oklahoma

Gas

&

Electric

Co.

3.80%,

8/15/2028

130,000

122,705

3.25%,

4/01/2030

150,000

132,645

5.40%,

1/15/2033

26,000

25,684

4.15%,

4/01/2047

135,000

104,886

3.85%,

8/15/2047

25,000

18,371

5.60%,

4/01/2053

60,000

57,775

Oncor

Electric

Delivery

Co.

LLC

0.55%,

10/01/2025

35,000

32,650

4.30%,

5/15/2028

10,000

9,621

3.70%,

11/15/2028

100,000

93,503

5.65%,

11/15/2033

50,000

50,253

3.80%,

9/30/2047

50,000

37,122

3.10%,

9/15/2049

155,000

100,625

4.95%,

9/15/2052

40,000

35,615

One

Gas,

Inc.

,

4.50%

,

11/01/2048

45,000

37,035

Pacific

Gas

&

Electric

Co.

4.95%,

6/08/2025

30,000

29,641

3.50%,

6/15/2025

30,000

29,178

2.10%,

8/01/2027

160,000

142,404

3.00%,

6/15/2028

45,000

40,512

3.75%,

7/01/2028

205,400

189,184

4.65%,

8/01/2028

100,000

94,873

6.10%,

1/15/2029

15,000

15,134

4.55%,

7/01/2030

19,500

18,104

2.50%,

2/01/2031

335,000

271,720

3.25%,

6/01/2031

70,000

59,156

5.90%,

6/15/2032

110,000

108,640

6.40%,

6/15/2033

(a)

20,000

20,372

4.50%,

7/01/2040

100,000

81,220

3.30%,

8/01/2040

30,000

20,911

4.20%,

6/01/2041

75,000

57,667

103

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Pacific

Gas

&

Electric

Co.

(continued)

4.60%,

6/15/2043

100,000

79,372

4.00%,

12/01/2046

50,000

35,371

3.95%,

12/01/2047

50,000

34,955

4.95%,

7/01/2050

630,000

512,751

3.50%,

8/01/2050

225,000

144,530

5.25%,

3/01/2052

66,000

55,491

6.75%,

1/15/2053

110,000

113,657

PacifiCorp

6.00%,

1/15/2039

200,000

198,451

4.10%,

2/01/2042

35,000

26,702

4.13%,

1/15/2049

100,000

73,698

2.90%,

6/15/2052

205,000

116,043

5.50%,

5/15/2054

(a)

20,000

17,887

PECO

Energy

Co.

4.90%,

6/15/2033

209,000

201,670

5.95%,

10/01/2036

500,000

506,917

3.90%,

3/01/2048

500,000

385,219

3.00%,

9/15/2049

40,000

25,415

2.85%,

9/15/2051

50,000

30,300

PG&E

Energy

Recovery

Funding

LLC

,

Series

A-3

,

2.82%

,

7/15/2046

25,000

17,084

PG&E

Wildfire

Recovery

Funding

LLC

Series

A-1,

3.59%,

6/01/2030

57,630

54,624

Series

A-2,

4.72%,

6/01/2037

250,000

234,907

Series

A-4,

5.21%,

12/01/2047

160,000

149,374

Piedmont

Natural

Gas

Co.,

Inc.

2.50%,

3/15/2031

25,000

20,526

3.35%,

6/01/2050

130,000

82,845

Pinnacle

West

Capital

Corp.

,

1.30%

,

6/15/2025

245,000

232,202

PPL

Capital

Funding,

Inc.

,

3.10%

,

5/15/2026

65,000

62,158

PPL

Electric

Utilities

Corp.

,

5.25%

,

5/15/2053

170,000

159,091

Public

Service

Co.

of

Colorado

Series

17,

6.25%,

9/01/2037

10,000

10,269

3.60%,

9/15/2042

25,000

18,344

4.05%,

9/15/2049

30,000

22,358

Series

34,

3.20%,

3/01/2050

20,000

12,830

5.25%,

4/01/2053

500,000

448,509

Public

Service

Co.

of

New

Hampshire

,

5.15%

,

1/15/2053

100,000

92,118

Public

Service

Co.

of

Oklahoma

,

5.25%

,

1/15/2033

100,000

96,176

Public

Service

Electric

&

Gas

Co.

1.90%,

8/15/2031

385,000

305,890

4.90%,

12/15/2032

100,000

96,276

5.20%,

8/01/2033

10,000

9,799

3.65%,

9/01/2042

25,000

19,047

3.80%,

3/01/2046

25,000

18,900

3.85%,

5/01/2049

40,000

30,233

3.20%,

8/01/2049

110,000

73,248

5.45%,

8/01/2053

10,000

9,618

Public

Service

Enterprise

Group,

Inc.

0.80%,

8/15/2025

10,000

9,385

5.88%,

10/15/2028

15,000

15,145

1.60%,

8/15/2030

60,000

47,306

6.13%,

10/15/2033

10,000

10,179

Puget

Energy,

Inc.

3.65%,

5/15/2025

50,000

48,761

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Puget

Energy,

Inc.

(continued)

2.38%,

6/15/2028

50,000

43,907

4.10%,

6/15/2030

75,000

67,659

4.22%,

3/15/2032

260,000

227,315

Puget

Sound

Energy,

Inc.

5.80%,

3/15/2040

27,000

26,490

3.25%,

9/15/2049

184,000

118,554

2.89%,

9/15/2051

25,000

15,026

San

Diego

Gas

&

Electric

Co.

2.50%,

5/15/2026

55,000

51,925

4.95%,

8/15/2028

55,000

54,226

Series

XXX,

3.00%,

3/15/2032

100,000

84,534

Series

RRR,

3.75%,

6/01/2047

175,000

127,538

Series

TTT,

4.10%,

6/15/2049

10,000

7,651

Series

UUU,

3.32%,

4/15/2050

105,000

68,877

Sempra

Energy

5.40%,

8/01/2026

236,000

234,587

3.25%,

6/15/2027

68,000

63,362

5.50%,

8/01/2033

10,000

9,717

3.80%,

2/01/2038

160,000

126,937

6.00%,

10/15/2039

270,000

264,224

Sierra

Pacific

Power

Co.

,

5.90%

,

3/15/2054

(b)

90,000

88,274

Southern

California

Edison

Co.

5.85%,

11/01/2027

60,000

60,706

2.85%,

8/01/2029

120,000

105,865

Series

G,

2.50%,

6/01/2031

275,000

225,055

5.95%,

11/01/2032

215,000

218,716

Series

05-E,

5.35%,

7/15/2035

40,000

38,505

4.50%,

9/01/2040

75,000

63,067

Series

13-A,

3.90%,

3/15/2043

50,000

37,957

4.65%,

10/01/2043

50,000

42,097

4.00%,

4/01/2047

500,000

374,690

Series

B,

4.88%,

3/01/2049

60,000

50,861

3.65%,

2/01/2050

105,000

72,986

5.88%,

12/01/2053

10,000

9,740

Southern

California

Gas

Co.

3.20%,

6/15/2025

210,000

204,699

2.95%,

4/15/2027

158,000

147,468

5.20%,

6/01/2033

10,000

9,732

3.75%,

9/15/2042

35,000

26,466

Series

VV,

4.30%,

1/15/2049

65,000

50,874

Series

WW,

3.95%,

2/15/2050

20,000

14,765

Southern

Co.

(The)

3.25%,

7/01/2026

333,000

317,518

4.85%,

6/15/2028

15,000

14,616

5.50%,

3/15/2029

10,000

9,977

Series

A,

3.70%,

4/30/2030

10,000

9,055

5.20%,

6/15/2033

15,000

14,449

5.70%,

3/15/2034

15,000

14,969

4.40%,

7/01/2046

105,000

85,392

Southern

Co.

Gas

Capital

Corp.

5.75%,

9/15/2033

10,000

10,047

4.40%,

5/30/2047

45,000

35,694

Series

21A,

3.15%,

9/30/2051

25,000

15,355

Southern

Power

Co.

5.15%,

9/15/2041

100,000

89,507

5.25%,

7/15/2043

20,000

17,868

104

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

24.8%

(continued)

Utilities

–

2.3%

(continued)

Southwest

Gas

Corp.

2.20%,

6/15/2030

130,000

107,525

4.15%,

6/01/2049

17,000

12,570

Southwestern

Electric

Power

Co.

Series

N,

1.65%,

3/15/2026

125,000

116,316

Series

K,

2.75%,

10/01/2026

91,000

84,834

Series

J,

3.90%,

4/01/2045

40,000

28,862

Spire

Missouri,

Inc.

,

4.80%

,

2/15/2033

50,000

47,406

Tampa

Electric

Co.

2.40%,

3/15/2031

60,000

49,079

4.35%,

5/15/2044

22,000

17,613

3.63%,

6/15/2050

165,000

114,539

Toledo

Edison

Co.

(The)

,

6.15%

,

5/15/2037

25,000

25,490

Tucson

Electric

Power

Co.

1.50%,

8/01/2030

50,000

39,939

4.00%,

6/15/2050

60,000

44,096

5.50%,

4/15/2053

50,000

46,940

Union

Electric

Co.

2.95%,

3/15/2030

50,000

43,638

3.90%,

9/15/2042

50,000

39,300

4.00%,

4/01/2048

46,000

34,807

3.25%,

10/01/2049

82,000

54,043

5.45%,

3/15/2053

50,000

46,939

Virginia

Electric

&

Power

Co.

Series

A,

3.15%,

1/15/2026

200,000

192,367

Series

B,

2.95%,

11/15/2026

30,000

28,304

Series

B,

3.75%,

5/15/2027

80,000

76,248

Series

A,

3.80%,

4/01/2028

50,000

47,161

5.30%,

8/15/2033

10,000

9,730

4.45%,

2/15/2044

115,000

95,238

Series

B,

3.80%,

9/15/2047

520,000

377,467

4.60%,

12/01/2048

20,000

16,512

2.45%,

12/15/2050

235,000

128,417

5.70%,

8/15/2053

60,000

58,500

Washington

Gas

Light

Co.

Series

K,

3.80%,

9/15/2046

15,000

10,784

3.65%,

9/15/2049

55,000

38,533

WEC

Energy

Group,

Inc.

5.00%,

9/27/2025

90,000

89,196

4.75%,

1/09/2026

25,000

24,662

5.60%,

9/12/2026

10,000

10,012

5.15%,

10/01/2027

200,000

197,857

4.75%,

1/15/2028

(a)

200,000

196,063

2.20%,

12/15/2028

65,000

56,420

Wisconsin

Power

&

Light

Co.

1.95%,

9/16/2031

50,000

39,353

4.95%,

4/01/2033

50,000

47,266

Xcel

Energy,

Inc.

3.30%,

6/01/2025

35,000

34,069

1.75%,

3/15/2027

70,000

62,924

4.00%,

6/15/2028

75,000

70,549

2.60%,

12/01/2029

10,000

8,573

5.45%,

8/15/2033

15,000

14,494

3.50%,

12/01/2049

125,000

82,899

38,890,016

Total

Corporate

Bonds

(cost

$451,659,256)

428,689,682

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Foreign

Governmental

–

1.6%

Canada

Government

International

Bond

0.75%,

5/19/2026

(a)

15,000

13,756

3.75%,

4/26/2028

450,000

431,974

Chile

Government

International

Bond

2.75%,

1/31/2027

200,000

185,304

3.24%,

2/06/2028

40,000

36,916

4.85%,

1/22/2029

200,000

194,671

2.45%,

1/31/2031

20,000

16,643

2.55%,

1/27/2032

280,000

228,751

3.50%,

1/31/2034

500,000

422,268

3.10%,

5/07/2041

400,000

280,180

3.10%,

1/22/2061

351,000

205,021

Export

Development

Canada

3.88%,

2/14/2028

50,000

48,237

4.13%,

2/13/2029

500,000

484,921

Export-Import

Bank

of

Korea

2.63%,

5/26/2026

200,000

189,618

5.00%,

1/11/2028

200,000

198,828

4.50%,

1/11/2029

500,000

487,956

4.63%,

1/11/2034

500,000

473,234

2.50%,

6/29/2041

170,000

114,982

Hydro-Quebec,

Series

HH,

8.50%,

12/01/2029

25,000

28,403

Indonesia

Government

International

Bond

3.50%,

1/11/2028

390,000

364,086

3.40%,

9/18/2029

70,000

63,731

2.85%,

2/14/2030

410,000

357,911

4.85%,

1/11/2033

200,000

191,227

3.35%,

3/12/2071

926,000

570,014

Israel

Government

AID

Bond,

5.50%,

9/18/2033

40,000

41,269

Israel

Government

International

Bond

2.88%,

3/16/2026

515,000

484,657

3.88%,

7/03/2050

160,000

110,026

Korea

International

Bond,

4.13%,

6/10/2044

(a)

200,000

170,643

Mexico

Government

International

Bond

4.13%,

1/21/2026

600,000

583,443

4.50%,

4/22/2029

50,000

47,282

3.25%,

4/16/2030

75,000

65,059

2.66%,

5/24/2031

50,000

40,547

4.75%,

4/27/2032

60,000

54,914

Series

A,

7.50%,

4/08/2033

150,000

164,910

4.88%,

5/19/2033

200,000

182,704

3.50%,

2/12/2034

1,322,000

1,061,084

Series

A,

6.75%,

9/27/2034

89,000

92,041

6.05%,

1/11/2040

40,000

38,046

4.28%,

8/14/2041

1,253,000

959,883

4.75%,

3/08/2044

174,000

137,819

4.50%,

1/31/2050

150,000

111,809

6.34%,

5/04/2053

200,000

186,554

6.40%,

5/07/2054

400,000

377,087

5.75%,

10/12/2110

20,000

16,564

Panama

Government

International

Bond

8.88%,

9/30/2027

250,000

264,432

9.38%,

4/01/2029

100,000

109,162

6.70%,

1/26/2036

440,000

413,222

4.50%,

4/16/2050

237,000

152,225

4.50%,

4/01/2056

293,000

181,430

3.87%,

7/23/2060

495,000

272,147

105

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Foreign

Governmental

–

1.6%

(continued)

Peruvian

Government

International

Bond

4.13%,

8/25/2027

100,000

95,529

2.84%,

6/20/2030

200,000

170,210

2.78%,

1/23/2031

272,000

226,270

1.86%,

12/01/2032

166,000

121,706

8.75%,

11/21/2033

21,000

24,997

3.00%,

1/15/2034

427,000

334,935

3.30%,

3/11/2041

60,000

42,497

3.60%,

1/15/2072

85,000

51,734

3.23%,

7/28/2121

100,000

52,602

Philippine

Government

International

Bond

9.50%,

2/02/2030

267,000

321,087

7.75%,

1/14/2031

200,000

224,812

1.95%,

1/06/2032

900,000

701,939

3.95%,

1/20/2040

231,000

188,406

2.65%,

12/10/2045

850,000

527,021

Province

of

Alberta

Canada

1.00%,

5/20/2025

1,045,000

997,966

3.30%,

3/15/2028

230,000

216,016

1.30%,

7/22/2030

325,000

261,536

Province

of

British

Columbia

Canada

4.90%,

4/24/2029

500,000

498,208

1.30%,

1/29/2031

220,000

174,736

4.20%,

7/06/2033

215,000

201,540

Province

of

Manitoba

Canada,

2.13%,

6/22/2026

1,208,000

1,133,546

Province

of

Ontario

Canada

0.63%,

1/21/2026

498,000

460,257

1.05%,

4/14/2026

95,000

87,729

2.50%,

4/27/2026

340,000

322,809

2.30%,

6/15/2026

200,000

188,493

1.05%,

5/21/2027

65,000

57,739

2.00%,

10/02/2029

180,000

154,695

1.13%,

10/07/2030

350,000

276,183

1.60%,

2/25/2031

275,000

221,660

1.80%,

10/14/2031

235,000

188,674

2.13%,

1/21/2032

95,000

77,658

Province

of

Quebec

Canada

0.60%,

7/23/2025

2,049,000

1,932,461

2.50%,

4/20/2026

375,000

356,195

1.35%,

5/28/2030

430,000

348,693

1.90%,

4/21/2031

50,000

40,927

Province

of

Saskatchewan

Canada,

3.25%,

6/08/2027

30,000

28,406

Republic

of

Italy

Government

International

Bond

1.25%,

2/17/2026

285,000

263,457

5.38%,

6/15/2033

40,000

38,478

4.00%,

10/17/2049

475,000

331,988

3.88%,

5/06/2051

405,000

272,758

Republic

of

Poland

Government

International

Bond

3.25%,

4/06/2026

497,000

479,134

5.75%,

11/16/2032

108,000

109,980

5.13%,

9/18/2034

500,000

480,694

5.50%,

4/04/2053

150,000

142,359

5.50%,

3/18/2054

600,000

564,045

Svensk

Exportkredit

AB

Series

G,

0.63%,

5/14/2025

200,000

190,271

4.13%,

6/14/2028

350,000

338,564

0.00%,

5/11/2037

(c)

30,000

14,763

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Foreign

Governmental

–

1.6%

(continued)

Uruguay

Government

International

Bond

4.38%,

10/27/2027

1,174,000

1,156,737

4.38%,

1/23/2031

45,000

43,160

4.13%,

11/20/2045

20,000

16,800

5.10%,

6/18/2050

284,000

259,042

4.98%,

4/20/2055

275,000

242,507

Total

Foreign

Governmental

(cost

$29,897,488)

28,162,200

Municipal

Securities

–

0.4%

Bay

Area

Toll

Authority,

RB

7.04%,

4/01/2050

10,000

11,489

6.91%,

10/01/2050

380,000

434,426

California

State

University,

RB

2.98%,

11/01/2051

15,000

10,017

2.72%,

11/01/2052

50,000

31,982

Chicago

Transit

Authority

Sales

&

Transfer

Tax

Receipts,

RB,

6.90%,

12/01/2040

97,030

105,566

City

of

Los

Angeles

Department

of

Airports

Customer

Facility

Charge,

RB,

4.24%,

5/15/2048

620,000

520,149

City

of

San

Francisco,

CA

Public

Utilities

Commission

Water,

RB,

6.95%,

11/01/2050

110,000

124,419

Commonwealth

of

Massachusetts,

RB

4.11%,

7/15/2031

65,943

63,166

5.46%,

12/01/2039

320,000

321,964

Dallas

Fort

Worth

International

Airport,

RB

2.84%,

11/01/2046

175,000

123,068

4.09%,

11/01/2051

100,000

81,581

4.51%,

11/01/2051

40,000

34,700

Health

&

Educational

Facilities

Authority

of

The

State

of

Missouri,

RB,

3.23%,

5/15/2050

500,000

352,245

Idaho

Energy

Resources

Authority,

RB,

2.86%,

9/01/2046

45,000

29,787

Indiana

Finance

Authority,

RB,

3.05%,

1/01/2051

65,000

45,530

Los

Angeles

County

Metropolitan

Transportation

Authority

Sales

Tax,

RB,

5.74%,

6/01/2039

100,000

100,012

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority,

RB,

Series

2022-ELL,

Class

A4,

4.48%,

8/01/2039

100,000

91,678

Michigan

State

University,

RB,

4.17%,

8/15/2122

100,000

72,995

Municipal

Electric

Authority

of

Georgia,

RB,

6.64%,

4/01/2057

98,000

105,397

New

Jersey

Turnpike

Authority,

RB

7.41%,

1/01/2040

200,000

232,550

7.10%,

1/01/2041

345,000

391,605

New

York

City

Municipal

Water

Finance

Authority,

RB

5.72%,

6/15/2042

225,000

221,392

5.44%,

6/15/2043

790,000

751,843

North

Texas

Tollway

Authority,

RB,

6.72%,

1/01/2049

15,000

16,826

Ohio

State

University

(The),

RB

4.91%,

6/01/2040

50,000

46,950

4.80%,

6/01/2111

10,000

8,494

Oklahoma

Development

Finance

Authority,

RB,

Series

2022-ONG,

Class

A1,

3.88%,

5/01/2037

88,207

83,123

106

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Municipal

Securities

–

0.4%

(continued)

Port

Authority

of

New

York

&

New

Jersey,

RB

4.96%,

8/01/2046

100,000

91,999

3.14%,

2/15/2051

250,000

177,474

4.46%,

10/01/2062

150,000

126,591

Regents

of

The

University

of

California

Medical

Center

Pooled,

RB

6.58%,

5/15/2049

315,000

343,471

3.01%,

5/15/2050

465,000

303,435

Rutgers,

The

State

University

of

New

Jersey,

RB,

3.27%,

5/01/2043

60,000

46,566

Sales

Tax

Securitization

Corp.,

GO,

3.82%,

1/01/2048

170,000

131,473

San

Diego

County

Regional

Transportation

Commission,

RB,

5.91%,

4/01/2048

45,000

45,003

State

Board

of

Administration

Finance

Corp.,

RB,

1.71%,

7/01/2027

100,000

89,606

State

of

California,

GO

5.13%,

9/01/2029

100,000

100,266

7.50%,

4/01/2034

75,000

85,499

7.30%,

10/01/2039

85,000

96,234

7.63%,

3/01/2040

385,000

451,611

7.60%,

11/01/2040

15,000

17,722

State

of

Illinois

Sales

Tax

Securitization

Corp.,

RB,

3.59%,

1/01/2043

30,000

24,290

State

of

Illinois,

GO,

5.10%,

6/01/2033

20,000

19,537

Texas

Private

Activity

Bond

Surface

Transportation

Corp.,

RB,

3.92%,

12/31/2049

10,000

7,857

University

of

Michigan,

RB

2.44%,

4/01/2040

54,000

37,729

4.45%,

4/01/2122

50,000

39,600

University

of

Virginia,

RB,

2.58%,

11/01/2051

100,000

59,699

Total

Municipal

Securities

(cost

$7,382,697)

6,708,616

Supranational

Bank

–

1.5%

African

Development

Bank

Series

G,

3.38%,

7/07/2025

30,000

29,316

Series

G,

0.88%,

3/23/2026

290,000

267,802

Series

GDIF,

0.88%,

7/22/2026

30,000

27,356

Series

G,

4.38%,

11/03/2027

405,000

397,562

4.38%,

3/14/2028

30,000

29,419

Asian

Development

Bank

Series

G,

0.38%,

9/03/2025

95,000

89,006

4.25%,

1/09/2026

150,000

147,719

Series

G,

1.00%,

4/14/2026

788,000

728,158

Series

G,

1.50%,

1/20/2027

725,000

661,418

Series

G,

3.13%,

8/20/2027

465,000

439,454

2.75%,

1/19/2028

50,000

46,376

Series

G,

4.50%,

8/25/2028

695,000

685,503

1.75%,

9/19/2029

150,000

128,321

0.75%,

10/08/2030

150,000

116,530

Series

G,

3.88%,

6/14/2033

750,000

697,197

Series

G,

4.13%,

1/12/2034

300,000

283,780

Asian

Infrastructure

Investment

Bank

(The)

0.50%,

5/28/2025

175,000

165,846

0.50%,

1/27/2026

50,000

46,123

4.00%,

1/18/2028

85,000

82,281

4.13%,

1/18/2029

400,000

387,862

Corp.

Andina

de

Fomento

1.63%,

9/23/2025

92,000

86,790

2.25%,

2/08/2027

265,000

241,875

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Supranational

Bank

–

1.5%

(continued)

Council

of

Europe

Development

Bank

3.00%,

6/16/2025

335,000

326,085

3.75%,

5/25/2026

250,000

243,369

3.63%,

1/26/2028

10,000

9,558

European

Bank

For

Reconstruction

&

Development

0.50%,

5/19/2025

1,280,000

1,216,783

Series

G,

0.50%,

11/25/2025

110,000

102,238

Series

G,

0.50%,

1/28/2026

40,000

36,919

European

Investment

Bank

0.63%,

7/25/2025

30,000

28,340

0.38%,

12/15/2025

5,000

4,629

Series

G,

1.38%,

3/15/2027

175,000

158,443

4.38%,

3/19/2027

950,000

935,373

2.38%,

5/24/2027

150,000

139,317

0.63%,

10/21/2027

155,000

134,035

3.25%,

11/15/2027

645,000

610,862

3.88%,

3/15/2028

100,000

96,540

4.00%,

2/15/2029

300,000

289,616

1.75%,

3/15/2029

150,000

130,234

4.75%,

6/15/2029

400,000

399,214

0.88%,

5/17/2030

700,000

556,965

3.63%,

7/15/2030

900,000

844,216

1.25%,

2/14/2031

150,000

119,861

3.75%,

2/14/2033

100,000

92,741

4.13%,

2/13/2034

300,000

283,984

Inter-American

Development

Bank

Series

G,

4.50%,

5/15/2026

1,500,000

1,482,220

2.00%,

6/02/2026

15,000

14,086

1.50%,

1/13/2027

100,000

91,290

2.38%,

7/07/2027

45,000

41,633

0.63%,

9/16/2027

65,000

56,405

1.13%,

7/20/2028

535,000

459,530

4.13%,

2/15/2029

400,000

388,191

3.50%,

9/14/2029

138,000

129,390

1.13%,

1/13/2031

260,000

205,376

3.88%,

10/28/2041

150,000

127,576

International

Bank

For

Reconstruction

&

Development

0.38%,

7/28/2025

383,000

360,560

2.50%,

7/29/2025

748,000

723,005

0.50%,

10/28/2025

605,000

564,277

3.13%,

11/20/2025

50,000

48,448

3.13%,

6/15/2027

1,115,000

1,057,496

2.50%,

11/22/2027

(a)

35,000

32,304

Series

G,

4.50%,

6/26/2028

150,000

146,110

3.50%,

7/12/2028

25,000

23,738

1.13%,

9/13/2028

195,000

166,684

3.88%,

2/14/2030

50,000

47,614

0.88%,

5/14/2030

50,000

39,735

4.00%,

7/25/2030

255,000

243,904

0.75%,

8/26/2030

75,000

58,580

1.63%,

11/03/2031

2,545,000

2,037,952

2.50%,

3/29/2032

110,000

93,396

4.75%,

11/14/2033

70,000

69,657

Series

G,

4.75%,

2/15/2035

110,000

108,090

International

Finance

Corp.

Series

G,

0.38%,

7/16/2025

30,000

28,281

Series

G,

0.75%,

10/08/2026

1,004,000

907,158

Series

G,

4.38%,

1/15/2027

(a)

210,000

206,822

0.75%,

8/27/2030

80,000

62,470

107

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Supranational

Bank

–

1.5%

(continued)

Japan

Bank

For

International

Cooperation

0.63%,

7/15/2025

50,000

47,136

2.25%,

11/04/2026

384,000

357,280

2.75%,

11/16/2027

234,000

215,973

4.63%,

7/19/2028

200,000

196,716

3.50%,

10/31/2028

600,000

562,375

1.25%,

1/21/2031

260,000

204,769

4.38%,

1/24/2031

500,000

482,700

Japan

International

Cooperation

Agency

2.13%,

10/20/2026

400,000

370,962

3.38%,

6/12/2028

50,000

46,641

Korea

Development

Bank

(The)

3.38%,

9/16/2025

200,000

194,357

2.00%,

10/25/2031

100,000

79,811

Nordic

Investment

Bank,

0.38%,

9/11/2025

465,000

435,149

Total

Supranational

Bank

(cost

$26,628,781)

25,760,863

U.S.

Government

Agencies

–

27.2%

Federal

Farm

Credit

Banks

Funding

Corp.

0.73%,

5/27/2025

200,000

190,193

0.61%,

8/25/2025

118,000

110,755

4.13%,

12/08/2025

800,000

786,781

0.75%,

12/16/2026

116,000

103,352

1.12%,

9/01/2028

50,000

42,295

1.10%,

8/10/2029

96,000

78,255

1.23%,

7/29/2030

26,000

20,628

1.15%,

8/12/2030

150,000

118,152

1.24%,

9/03/2030

550,000

433,784

1.38%,

1/14/2031

150,000

117,500

2.02%,

4/01/2031

500,000

409,849

1.79%,

6/22/2035

200,000

138,720

Federal

Home

Loan

Banks

0.50%,

4/14/2025

1,445,000

1,381,897

0.38%,

9/04/2025

200,000

187,572

3.13%,

9/12/2025

140,000

135,941

0.96%,

3/05/2026

370,000

341,733

1.00%,

3/23/2026

4,875

4,509

1.88%,

9/11/2026

110,000

102,304

4.63%,

11/17/2026

700,000

694,665

1.25%,

12/21/2026

615,000

559,121

3.00%,

3/12/2027

300,000

284,525

3.25%,

11/16/2028

220,000

206,499

4.50%,

9/13/2030

700,000

684,080

Federal

Home

Loan

Mortgage

Corporation

0.38%,

7/21/2025

(d)

300,000

283,160

0.38%,

9/23/2025

(d)

1,749,000

1,636,883

0.63%,

11/25/2025

(d)

250,000

232,634

0.70%,

12/23/2025

(d)

200,000

185,251

0.80%,

10/28/2026

(d)

1,000,000

900,276

2.50%,

9/01/2027

(d)

8,158

7,859

4.00%,

7/01/2029

(d)

3,951

3,876

6.75%,

9/15/2029

(d)

50,000

54,614

0.00%,

12/14/2029

(c)(d)

200,000

151,914

3.00%,

2/01/2031

(d)

19,806

18,614

6.75%,

3/15/2031

(d)

50,000

55,641

2.50%,

12/01/2031

(d)

12,526

11,558

2.50%,

3/01/2032

(d)

72,974

67,159

6.25%,

7/15/2032

(d)

170,000

187,005

3.00%,

9/01/2032

(d)

35,850

33,346

3.00%,

10/01/2032

(d)

14,259

13,343

3.00%,

1/01/2033

(d)

4,393

4,081

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

3.00%,

2/01/2033

(d)

13,574

12,679

3.50%,

2/01/2033

(d)

19,618

18,506

3.00%,

4/01/2033

(d)

50,121

47,225

3.00%,

4/01/2033

(d)

19,729

18,834

3.00%,

7/01/2033

(d)

72,223

66,725

4.00%,

4/01/2034

(d)

19,922

18,994

3.00%,

8/01/2034

(d)

14,721

13,515

3.50%,

3/01/2035

(d)

6,821

6,357

2.50%,

4/01/2035

(d)

12,447

11,134

3.00%,

4/01/2035

(d)

97,735

89,727

3.00%,

4/01/2035

(d)

25,503

23,404

2.50%,

5/01/2035

(d)

32,107

28,671

3.00%,

6/01/2035

(d)

61,727

57,884

3.00%,

6/01/2035

(d)

36,125

33,152

2.50%,

7/01/2035

(d)

199,222

178,187

2.00%,

8/01/2035

(d)

184,880

161,597

2.50%,

9/01/2035

(d)

104,460

93,283

2.00%,

10/01/2035

(d)

306,651

267,891

2.00%,

10/01/2035

(d)

155,812

136,106

2.50%,

10/01/2035

(d)

257,920

230,325

2.50%,

10/01/2035

(d)

21,485

19,187

1.50%,

11/01/2035

(d)

688,476

583,304

2.00%,

11/01/2035

(d)

178,722

155,501

1.50%,

12/01/2035

(d)

67,543

57,212

2.00%,

12/01/2035

(d)

456,404

397,068

2.50%,

1/01/2036

(d)

31,699

28,307

1.50%,

2/01/2036

(d)

147,212

124,638

2.00%,

2/01/2036

(d)

314,646

272,019

1.50%,

3/01/2036

(d)

65,410

55,508

1.50%,

4/01/2036

(d)

98,557

84,050

2.00%,

5/01/2036

(d)

514,909

448,336

2.50%,

6/01/2036

(d)

276,742

245,726

2.00%,

8/01/2036

(d)

179,150

155,158

1.50%,

9/01/2036

(d)

37,466

31,657

1.00%,

10/01/2036

(d)

58,608

47,882

1.50%,

10/01/2036

(d)

68,645

57,987

1.50%,

10/01/2036

(d)

975,014

823,630

2.00%,

10/01/2036

(d)

92,856

80,266

1.50%,

11/01/2036

(d)

77,741

65,653

2.00%,

11/01/2036

(d)

101,254

87,611

2.00%,

12/01/2036

(d)

19,010

16,444

1.50%,

1/01/2037

(d)

183,605

154,970

2.00%,

1/01/2037

(d)

46,727

40,685

2.00%,

1/01/2037

(d)

100,523

86,924

1.50%,

2/01/2037

(d)

457,336

385,257

1.50%,

2/01/2037

(d)

152,478

128,875

1.50%,

2/01/2037

(d)

161,496

136,272

2.00%,

2/01/2037

(d)

799,702

691,306

1.50%,

3/01/2037

(d)

102,232

86,142

2.00%,

3/01/2037

(d)

192,094

167,237

2.50%,

3/01/2037

(d)

158,151

140,734

2.50%,

3/01/2037

(d)

38,923

34,551

1.50%,

4/01/2037

(d)

47,416

40,065

2.00%,

4/01/2037

(d)

69,629

60,185

2.50%,

4/01/2037

(d)

211,650

188,831

2.50%,

5/01/2037

(d)

163,402

145,048

3.00%,

5/01/2037

(d)

21,157

19,416

3.00%,

5/01/2037

(d)

18,142

16,215

3.00%,

5/01/2037

(d)

13,606

12,178

3.00%,

9/01/2037

(d)

76,079

69,114

108

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

3.50%,

9/01/2037

(d)

72,648

67,512

4.00%,

9/01/2037

(d)

58,286

55,380

3.50%,

10/01/2037

(d)

61,158

56,834

4.00%,

4/01/2038

(d)

116,569

110,723

3.00%,

5/01/2038

(d)

933,355

856,543

4.50%,

5/01/2038

(d)

21,155

20,470

3.00%,

6/01/2038

(d)

20,971

19,055

4.50%,

6/01/2038

(d)

64,416

62,330

3.00%,

7/01/2038

(d)

144,358

131,141

5.50%,

8/01/2038

(d)

60,521

60,217

5.00%,

11/01/2038

(d)

227,885

223,946

0.00%,

11/15/2038

(c)(d)

300,000

138,523

3.00%,

11/01/2039

(d)

37,955

33,255

3.00%,

3/01/2040

(d)

80,542

70,569

2.50%,

4/01/2040

(d)

6,383

5,414

2.50%,

5/01/2040

(d)

149,888

127,106

2.00%,

8/01/2040

(d)

272,573

223,634

2.50%,

9/01/2040

(d)

50,036

42,387

2.50%,

10/01/2040

(d)

14,167

12,001

2.00%,

11/01/2040

(d)

115,384

94,587

4.00%,

11/01/2040

(d)

47,237

43,855

1.50%,

1/01/2041

(d)

109,851

87,404

1.50%,

5/01/2041

(d)

177,886

140,519

4.50%,

5/01/2041

(d)

90,451

86,347

2.50%,

6/01/2041

(d)

128,863

108,422

2.00%,

8/01/2041

(d)

131,348

106,924

2.00%,

12/01/2041

(d)

227,769

184,915

2.50%,

12/01/2041

(d)

408,803

343,424

1.50%,

2/01/2042

(d)

42,892

33,726

2.00%,

3/01/2042

(d)

298,306

240,604

2.00%,

4/01/2042

(d)

43,389

35,073

2.50%,

4/01/2042

(d)

932,235

778,446

2.00%,

5/01/2042

(d)

68,499

55,370

2.50%,

5/01/2042

(d)

87,067

72,853

3.00%,

5/01/2042

(d)

64,885

55,936

3.50%,

5/01/2042

(d)

514,590

460,308

3.00%,

6/01/2042

(d)

21,732

18,763

3.00%,

7/01/2042

(d)

21,969

18,968

3.00%,

9/01/2042

(d)

576,694

505,281

4.00%,

9/01/2042

(d)

21,445

19,702

3.00%,

12/01/2042

(d)

15,244

13,245

3.00%,

1/01/2043

(d)

40,464

35,159

3.50%,

2/01/2043

(d)

45,297

40,597

4.50%,

2/01/2043

(d)

83,188

78,020

3.00%,

4/01/2043

(d)

57,824

50,024

5.00%,

6/01/2043

(d)

22,910

22,150

3.50%,

10/01/2043

(d)

151,794

135,895

4.00%,

1/01/2044

(d)

49,022

45,083

3.50%,

12/01/2044

(d)

39,532

35,202

4.00%,

12/01/2044

(d)

18,293

16,770

3.00%,

1/01/2045

(d)

289,679

247,944

4.00%,

2/01/2045

(d)

41,206

37,903

3.00%,

5/01/2045

(d)

8,651

7,378

3.50%,

7/01/2045

(d)

63,273

56,087

3.50%,

7/01/2045

(d)

47,392

41,951

4.00%,

9/01/2045

(d)

103,312

94,567

3.50%,

10/01/2045

(d)

51,488

45,807

4.50%,

10/01/2045

(d)

58,450

55,456

4.00%,

11/01/2045

(d)

178,218

163,133

3.50%,

12/01/2045

(d)

6,591

5,834

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

3.50%,

3/01/2046

(d)

282,293

249,885

3.50%,

6/01/2046

(d)

374,095

330,841

3.50%,

8/01/2046

(d)

404,333

358,835

3.50%,

8/01/2046

(d)

55,529

49,519

3.00%,

9/01/2046

(d)

263,701

225,676

3.00%,

11/01/2046

(d)

47,353

40,318

3.00%,

12/01/2046

(d)

142,308

121,166

3.00%,

1/01/2047

(d)

44,364

38,238

3.50%,

2/01/2047

(d)

2,621,408

2,308,881

3.00%,

8/01/2047

(d)

39,861

33,939

4.00%,

8/01/2047

(d)

36,417

33,186

3.00%,

9/01/2047

(d)

193,585

162,071

3.50%,

9/01/2047

(d)

16,065

14,135

4.50%,

10/01/2047

(d)

58,418

54,896

3.50%,

6/01/2048

(d)

59,536

52,568

3.50%,

7/01/2048

(d)

15,445

13,573

4.50%,

8/01/2048

(d)

70,005

65,626

4.00%,

1/01/2049

(d)

130,556

119,151

4.50%,

3/01/2049

(d)

22,139

20,783

3.50%,

5/01/2049

(d)

103,059

89,984

4.00%,

7/01/2049

(d)

170,417

155,450

4.00%,

8/01/2049

(d)

299,250

270,656

3.00%,

9/01/2049

(d)

32,453

27,352

3.00%,

10/01/2049

(d)

717,162

601,107

3.00%,

10/01/2049

(d)

37,224

31,374

3.50%,

10/01/2049

(d)

891,893

778,744

5.00%,

10/01/2049

(d)

48,243

46,467

2.50%,

1/01/2050

(d)

32,258

25,891

3.00%,

2/01/2050

(d)

47,597

40,257

4.50%,

2/01/2050

(d)

17,643

16,530

3.00%,

3/01/2050

(d)

31,013

26,138

3.00%,

4/01/2050

(d)

104,855

87,888

3.00%,

4/01/2050

(d)

143,030

119,886

2.50%,

6/01/2050

(d)

276,834

222,755

2.50%,

6/01/2050

(d)

65,201

52,111

2.50%,

6/01/2050

(d)

167,173

134,514

2.50%,

6/01/2050

(d)

55,774

44,878

2.00%,

7/01/2050

(d)

117,127

90,431

2.50%,

7/01/2050

(d)

155,102

124,755

2.50%,

7/01/2050

(d)

360,930

291,210

2.50%,

8/01/2050

(d)

12,568

10,041

2.50%,

8/01/2050

(d)

632,877

511,721

3.00%,

8/01/2050

(d)

217,763

184,078

2.00%,

9/01/2050

(d)

489,336

373,047

2.00%,

9/01/2050

(d)

121,787

92,845

2.00%,

9/01/2050

(d)

292,843

225,006

2.00%,

9/01/2050

(d)

217,951

167,831

2.00%,

9/01/2050

(d)

569,854

434,254

2.50%,

9/01/2050

(d)

253,934

201,162

4.00%,

9/01/2050

(d)

193,885

178,096

2.00%,

10/01/2050

(d)

107,816

82,160

2.00%,

10/01/2050

(d)

144,789

110,335

2.00%,

10/01/2050

(d)

191,359

146,726

2.50%,

10/01/2050

(d)

117,275

94,438

2.50%,

10/01/2050

(d)

132,583

107,466

3.00%,

10/01/2050

(d)

31,165

26,064

2.50%,

11/01/2050

(d)

481,004

389,583

2.00%,

12/01/2050

(d)

172,503

131,348

2.50%,

12/01/2050

(d)

280,705

226,047

2.50%,

12/01/2050

(d)

422,846

335,074

109

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

2.50%,

12/01/2050

(d)

248,247

200,988

3.00%,

12/01/2050

(d)

599,389

504,963

1.50%,

1/01/2051

(d)

62,918

45,307

1.50%,

1/01/2051

(d)

721,584

519,438

2.00%,

1/01/2051

(d)

3,423,278

2,605,500

2.50%,

1/01/2051

(d)

1,087,666

862,127

3.00%,

1/01/2051

(d)

265,393

222,286

1.50%,

2/01/2051

(d)

176,322

127,071

2.00%,

2/01/2051

(d)

997,828

759,150

2.00%,

2/01/2051

(d)

4,548,114

3,463,039

2.00%,

2/01/2051

(d)

73,663

56,390

2.50%,

2/01/2051

(d)

15,603

12,437

2.50%,

3/01/2051

(d)

242,279

193,474

1.50%,

4/01/2051

(d)

255,045

183,434

2.00%,

4/01/2051

(d)

443,073

343,018

2.00%,

4/01/2051

(d)

255,896

194,797

2.00%,

4/01/2051

(d)

218,961

167,149

2.50%,

4/01/2051

(d)

453,603

361,695

1.50%,

5/01/2051

(d)

2,123,602

1,527,341

2.00%,

5/01/2051

(d)

747,266

572,493

2.00%,

5/01/2051

(d)

479,343

363,932

2.00%,

5/01/2051

(d)

98,651

76,161

2.00%,

5/01/2051

(d)

307,573

233,944

2.50%,

5/01/2051

(d)

216,299

174,719

2.50%,

5/01/2051

(d)

380,975

301,811

2.50%,

5/01/2051

(d)

54,280

43,218

2.50%,

5/01/2051

(d)

194,919

156,235

1.50%,

6/01/2051

(d)

232,432

167,134

2.00%,

6/01/2051

(d)

245,151

188,022

3.00%,

6/01/2051

(d)

454,035

375,014

2.50%,

7/01/2051

(d)

118,183

94,633

2.50%,

7/01/2051

(d)

481,505

386,703

2.50%,

7/01/2051

(d)

2,455,077

1,953,725

3.00%,

7/01/2051

(d)

262,013

216,412

3.00%,

7/01/2051

(d)

283,356

239,130

3.00%,

7/01/2051

(d)

619,328

515,312

3.00%,

7/01/2051

(d)

306,753

257,449

1.50%,

8/01/2051

(d)

128,390

92,341

1.50%,

8/01/2051

(d)

51,844

37,271

2.00%,

8/01/2051

(d)

687,296

523,749

2.00%,

8/01/2051

(d)

299,786

227,328

2.50%,

8/01/2051

(d)

105,851

85,372

3.00%,

8/01/2051

(d)

848,812

711,458

1.50%,

9/01/2051

(d)

21,632

15,550

2.00%,

9/01/2051

(d)

297,420

225,441

2.00%,

9/01/2051

(d)

22,094

16,747

2.00%,

9/01/2051

(d)

21,480

16,282

2.00%,

9/01/2051

(d)

342,176

259,260

2.50%,

9/01/2051

(d)

168,278

134,673

2.50%,

9/01/2051

(d)

208,827

166,118

2.50%,

9/01/2051

(d)

60,943

48,447

3.50%,

9/01/2051

(d)

105,841

91,526

1.50%,

10/01/2051

(d)

416,320

299,233

2.00%,

10/01/2051

(d)

425,524

324,175

2.00%,

10/01/2051

(d)

194,512

148,184

2.00%,

10/01/2051

(d)

85,904

65,087

2.00%,

10/01/2051

(d)

524,141

397,456

2.00%,

10/01/2051

(d)

2,882,889

2,184,665

2.50%,

10/01/2051

(d)

333,985

265,399

2.50%,

10/01/2051

(d)

250,120

200,483

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

2.00%,

11/01/2051

(d)

384,500

291,208

2.00%,

11/01/2051

(d)

339,148

259,482

2.50%,

11/01/2051

(d)

207,168

167,023

2.50%,

11/01/2051

(d)

82,866

66,918

3.50%,

11/01/2051

(d)

107,879

94,008

2.00%,

12/01/2051

(d)

128,489

97,966

2.50%,

12/01/2051

(d)

192,340

154,113

2.50%,

12/01/2051

(d)

376,993

298,539

2.50%,

12/01/2051

(d)

224,196

180,682

3.00%,

12/01/2051

(d)

287,799

238,171

2.00%,

1/01/2052

(d)

351,857

271,095

2.00%,

1/01/2052

(d)

586,628

443,046

2.00%,

1/01/2052

(d)

295,423

223,690

2.50%,

1/01/2052

(d)

173,618

139,002

3.00%,

1/01/2052

(d)

377,707

316,005

2.00%,

2/01/2052

(d)

4,781,820

3,621,598

2.00%,

2/01/2052

(d)

282,809

214,407

2.00%,

2/01/2052

(d)

1,411,111

1,067,417

2.00%,

2/01/2052

(d)

816,481

623,283

2.50%,

2/01/2052

(d)

255,026

204,262

2.50%,

2/01/2052

(d)

192,923

154,521

2.50%,

2/01/2052

(d)

1,278,529

1,020,849

2.50%,

2/01/2052

(d)

630,287

506,326

2.50%,

2/01/2052

(d)

239,978

190,400

3.00%,

2/01/2052

(d)

252,100

208,321

3.00%,

2/01/2052

(d)

106,898

89,255

2.00%,

3/01/2052

(d)

356,047

270,101

2.00%,

3/01/2052

(d)

1,207,637

912,346

2.00%,

3/01/2052

(d)

23,123

17,479

3.00%,

3/01/2052

(d)

431,317

356,706

3.50%,

3/01/2052

(d)

340,469

296,612

2.00%,

4/01/2052

(d)

223,302

170,918

2.00%,

4/01/2052

(d)

158,664

119,867

2.50%,

4/01/2052

(d)

692,693

548,948

2.50%,

4/01/2052

(d)

5,447,867

4,350,792

2.50%,

4/01/2052

(d)

977,935

777,414

3.00%,

4/01/2052

(d)

281,233

236,527

3.50%,

4/01/2052

(d)

86,339

75,087

2.00%,

5/01/2052

(d)

246,661

186,348

2.50%,

5/01/2052

(d)

315,872

250,323

2.50%,

5/01/2052

(d)

544,537

431,537

3.00%,

5/01/2052

(d)

1,416,198

1,171,109

3.00%,

5/01/2052

(d)

67,783

56,388

3.00%,

5/01/2052

(d)

125,452

105,004

3.00%,

5/01/2052

(d)

308,885

257,512

3.50%,

5/01/2052

(d)

272,275

234,922

3.50%,

5/01/2052

(d)

22,304

19,250

3.50%,

5/01/2052

(d)

472,656

407,938

3.50%,

5/01/2052

(d)

257,017

222,680

2.50%,

6/01/2052

(d)

22,880

18,132

3.00%,

6/01/2052

(d)

166,841

139,079

3.00%,

6/01/2052

(d)

387,748

320,614

3.50%,

6/01/2052

(d)

392,467

340,095

3.50%,

6/01/2052

(d)

106,152

91,505

4.00%,

6/01/2052

(d)

279,746

250,738

4.50%,

6/01/2052

(d)

187,921

175,073

3.00%,

7/01/2052

(d)

1,083,850

896,194

3.00%,

7/01/2052

(d)

289,269

239,163

4.00%,

7/01/2052

(d)

91,878

82,151

4.50%,

7/01/2052

(d)

498,686

460,315

110

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

3.50%,

8/01/2052

(d)

281,839

245,595

4.00%,

8/01/2052

(d)

68,480

61,230

4.50%,

8/01/2052

(d)

358,822

331,229

4.50%,

8/01/2052

(d)

180,924

167,003

5.00%,

8/01/2052

(d)

188,330

179,083

5.00%,

8/01/2052

(d)

145,290

138,366

2.50%,

9/01/2052

(d)

240,781

191,037

3.00%,

9/01/2052

(d)

110,991

91,765

4.00%,

9/01/2052

(d)

23,785

21,268

4.00%,

9/01/2052

(d)

831,137

743,150

4.50%,

9/01/2052

(d)

200,051

184,611

4.50%,

9/01/2052

(d)

541,459

500,089

4.50%,

9/01/2052

(d)

295,169

272,388

5.00%,

9/01/2052

(d)

22,345

21,288

4.00%,

10/01/2052

(d)

184,274

165,964

4.00%,

10/01/2052

(d)

448,188

402,741

4.00%,

10/01/2052

(d)

95,777

85,732

4.00%,

10/01/2052

(d)

221,948

198,452

4.50%,

10/01/2052

(d)

679,526

631,370

5.50%,

10/01/2052

(d)

43,891

42,726

3.50%,

11/01/2052

(d)

2,779,916

2,397,123

5.00%,

11/01/2052

(d)

113,666

107,953

6.00%,

11/01/2052

(d)

1,454,118

1,440,941

4.50%,

12/01/2052

(d)

140,543

129,696

4.50%,

12/01/2052

(d)

182,580

170,026

4.50%,

12/01/2052

(d)

55,696

51,366

5.00%,

12/01/2052

(d)

22,801

21,749

5.00%,

12/01/2052

(d)

146,240

138,950

5.50%,

12/01/2052

(d)

22,536

21,925

4.00%,

1/01/2053

(d)

278,399

248,927

4.50%,

1/01/2053

(d)

420,811

388,216

4.50%,

1/01/2053

(d)

23,543

21,706

5.00%,

1/01/2053

(d)

46,033

43,786

5.00%,

1/01/2053

(d)

138,888

131,853

6.00%,

1/01/2053

(d)

273,422

270,944

5.00%,

2/01/2053

(d)

398,435

377,947

5.00%,

2/01/2053

(d)

477,744

456,834

5.50%,

2/01/2053

(d)

453,485

440,943

4.00%,

3/01/2053

(d)

69,903

62,957

4.50%,

3/01/2053

(d)

141,436

130,348

6.00%,

3/01/2053

(d)

21,717

21,520

4.00%,

4/01/2053

(d)

23,997

21,451

5.00%,

4/01/2053

(d)

868,957

823,851

5.50%,

4/01/2053

(d)

424,421

417,521

4.50%,

5/01/2053

(d)

265,423

244,838

5.00%,

5/01/2053

(d)

307,830

291,851

5.50%,

5/01/2053

(d)

473,783

460,190

6.00%,

5/01/2053

(d)

278,721

277,983

6.00%,

5/01/2053

(d)

453,698

449,573

4.50%,

6/01/2053

(d)

163,268

151,171

5.50%,

6/01/2053

(d)

47,932

46,832

5.50%,

6/01/2053

(d)

441,309

428,606

6.00%,

6/01/2053

(d)

137,173

135,926

4.50%,

7/01/2053

(d)

144,816

133,463

5.00%,

7/01/2053

(d)

142,809

135,584

5.50%,

7/01/2053

(d)

493,891

479,636

4.50%,

8/01/2053

(d)

24,249

22,348

5.00%,

8/01/2053

(d)

143,587

136,133

5.50%,

8/01/2053

(d)

566,138

549,754

6.00%,

8/01/2053

(d)

93,023

92,177

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

5.00%,

9/01/2053

(d)

1,260,786

1,195,340

5.50%,

9/01/2053

(d)

353,158

342,910

5.50%,

9/01/2053

(d)

120,572

117,436

5.50%,

9/01/2053

(d)

440,022

428,332

5.50%,

9/01/2053

(d)

286,549

281,471

6.00%,

9/01/2053

(d)

399,063

395,435

2.50%,

10/01/2053

(d)

786,801

624,495

4.50%,

10/01/2053

(d)

390,308

359,710

5.50%,

10/01/2053

(d)

387,613

379,369

6.50%,

10/01/2053

(d)

766,648

772,644

4.50%,

11/01/2053

(d)

97,725

90,064

5.00%,

11/01/2053

(d)

743,404

704,815

5.50%,

11/01/2053

(d)

966,885

938,754

5.50%,

11/01/2053

(d)

491,811

478,931

6.00%,

11/01/2053

(d)

369,573

368,271

6.00%,

11/01/2053

(d)

310,759

307,933

6.50%,

11/01/2053

(d)

240,334

244,738

4.50%,

12/01/2053

(d)

24,468

22,550

5.00%,

12/01/2053

(d)

171,570

162,664

5.50%,

1/01/2054

(d)

1,472,597

1,429,738

6.00%,

1/01/2054

(d)

968,571

959,764

5.50%,

2/01/2054

(d)

49,723

48,355

6.50%,

2/01/2054

(d)

192,396

193,901

Federal

Home

Loan

Mortgage

Corporation

Mutifamily

Structured

Pass-Through

Ctfs.

Series

2015-K051,

Class

A2,

3.31%,

9/25/2025

(d)

200,000

194,598

Series

2016-K052,

Class

A2,

3.15%,

11/25/2025

(d)

175,000

169,509

Series

2019-K734,

Class

A2,

3.21%,

2/25/2026

(d)

325,000

314,270

Series

2016-K055,

Class

A2,

2.67%,

3/25/2026

(d)

425,000

405,620

Series

2019-K736,

Class

A2,

2.28%,

7/25/2026

(d)

50,000

47,112

Series

2016-K057,

Class

A2,

2.57%,

7/25/2026

(d)

125,000

118,279

Series

2016-K058,

Class

AM,

2.72%,

8/25/2026

(d)

90,000

84,834

Series

2017-K064,

Class

A2,

3.22%,

3/25/2027

(d)

20,000

18,960

Series

2017-K069,

Class

A2,

3.19%,

9/25/2027

(d)

150,000

140,910

Series

2018-K072,

Class

A1,

3.25%,

11/25/2027

(d)

69,471

66,859

Series

2018-K072,

Class

A2,

3.44%,

12/25/2027

(d)

160,000

150,856

Series

2018-K077,

Class

A1,

3.70%,

3/25/2028

(d)

20,676

20,023

Series

2021-K743,

Class

A2,

1.77%,

5/25/2028

(d)

75,000

65,841

Series

2018-K077,

Class

A2,

3.85%,

5/25/2028

(d)

50,000

47,581

Series

2018-K081,

Class

AM,

3.90%,

8/25/2028

(d)

50,000

47,395

Series

2023-K508,

Class

A2,

4.74%,

8/25/2028

(d)

100,000

98,104

Series

2022-K747,

Class

AM,

1.75%,

12/25/2028

(d)

1,000,000

859,502

Series

2019-K087,

Class

A2,

3.77%,

12/25/2028

(d)

130,000

122,560

111

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

Home

Loan

Mortgage

Corporation

Mutifamily

Structured

Pass-Through

Ctfs.

(continued)

Series

2019-K089,

Class

AM,

3.63%,

1/25/2029

(d)

1,060,000

989,807

Series

2020-K110,

Class

A1,

1.02%,

9/25/2029

(d)

198,910

172,808

Series

2019-K099,

Class

A2,

2.60%,

9/25/2029

(d)

40,000

35,304

Series

2020-K106,

Class

A1,

1.78%,

10/25/2029

(d)

34,836

31,303

Series

2019-K101,

Class

A2,

2.52%,

10/25/2029

(d)

10,000

8,771

Series

2020-K105,

Class

A2,

1.87%,

1/25/2030

(d)

90,000

75,656

Series

2016-K152,

Class

A1,

2.83%,

5/25/2030

(d)

34,141

31,409

Series

2020-K116,

Class

A2,

1.38%,

7/25/2030

(d)

120,000

96,286

Series

2020-K117,

Class

A2,

1.41%,

8/25/2030

(d)

130,000

104,198

Series

2020-K118,

Class

A2,

1.49%,

9/25/2030

(d)

280,000

225,176

Series

2020-K121,

Class

A2,

1.55%,

10/25/2030

(d)

140,000

112,487

Series

2021-K123,

Class

A2,

1.62%,

12/25/2030

(d)

200,000

161,089

Series

2021-K124,

Class

A2,

1.66%,

12/25/2030

(d)

1,300,000

1,047,611

Series

2021-K126,

Class

A2,

2.07%,

1/25/2031

(d)

50,000

41,391

Series

2019-1510,

Class

A2,

3.72%,

1/25/2031

(d)

145,000

132,922

Series

2021-K135,

Class

A2,

2.15%,

10/25/2031

(d)

200,000

163,337

Series

2021-K134,

Class

A2,

2.24%,

10/25/2031

(d)

125,000

102,708

Series

2017-K153,

Class

A3,

3.12%,

10/25/2031

(d)

50,000

43,850

Series

2021-K136,

Class

A2,

2.13%,

11/25/2031

(d)

120,000

97,599

Series

2022-K137,

Class

A2,

2.35%,

11/25/2031

(d)

400,000

330,305

Series

2022-K142,

Class

A2,

2.40%,

3/25/2032

(d)

30,000

24,707

Series

2018-K154,

Class

A3,

3.46%,

11/25/2032

(d)

1,100,000

974,452

Series

2023-155,

Class

AM,

4.25%,

4/25/2033

(d)

250,000

232,523

Series

2018-K157,

Class

A2,

3.99%,

5/25/2033

(d)

260,000

243,185

Series

2023-157,

Class

A2,

4.20%,

5/25/2033

(d)

100,000

93,150

Series

2023-159,

Class

A2,

4.50%,

7/25/2033

(d)

250,000

238,037

Series

2023-161,

Class

A2,

4.90%,

10/25/2033

(d)

1,000,000

980,738

Series

2024-162,

Class

A2,

5.15%,

12/25/2033

(d)

100,000

99,849

Series

2019-1513,

Class

A3,

2.80%,

8/25/2034

(d)

20,000

16,280

Series

2020-1515,

Class

A2,

1.94%,

2/25/2035

(d)

900,000

660,409

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

0.38%,

8/25/2025

(d)

30,000

28,177

0.56%,

11/17/2025

(d)

450,000

418,881

0.64%,

12/30/2025

(d)

200,000

185,172

1.88%,

9/24/2026

(d)

755,000

702,153

3.00%,

11/01/2026

(d)

9,826

9,503

3.00%,

12/01/2026

(d)

5,484

5,299

3.00%,

12/01/2026

(d)

20,774

20,065

3.00%,

12/01/2026

(d)

5,978

5,770

3.00%,

6/01/2027

(d)

6,153

5,963

0.75%,

10/08/2027

(d)

800,000

696,654

3.00%,

2/01/2028

(d)

9,860

9,537

2.50%,

6/01/2028

(d)

23,697

22,603

3.00%,

9/01/2028

(d)

45,769

43,925

3.00%,

7/01/2030

(d)

30,413

29,136

2.00%,

8/01/2030

(d)

32,753

30,182

3.50%,

8/01/2030

(d)

7,400

7,237

0.88%,

8/05/2030

(d)

1,565,000

1,234,174

2.00%,

10/01/2030

(d)

7,402

6,843

2.50%,

3/01/2031

(d)

34,132

32,394

3.50%,

4/01/2031

(d)

27,537

26,221

3.00%,

8/01/2031

(d)

14,005

13,090

2.50%,

10/01/2031

(d)

71,947

67,793

2.00%,

11/01/2031

(d)

23,030

20,957

2.50%,

11/01/2031

(d)

263,944

244,322

3.50%,

11/01/2031

(d)

9,870

9,537

2.50%,

1/01/2032

(d)

54,884

50,674

2.50%,

1/01/2032

(d)

9,720

9,066

3.00%,

1/01/2032

(d)

140,964

131,795

3.50%,

1/01/2032

(d)

11,694

11,097

3.00%,

2/01/2032

(d)

13,617

12,753

3.50%,

4/01/2032

(d)

11,700

11,117

2.50%,

5/01/2032

(d)

73,631

68,567

3.00%,

8/01/2032

(d)

57,135

53,244

3.50%,

8/01/2032

(d)

52,851

50,245

3.00%,

9/01/2032

(d)

20,800

19,356

2.50%,

1/01/2033

(d)

16,112

15,173

3.00%,

2/01/2033

(d)

96,399

89,684

3.00%,

2/01/2033

(d)

30,396

28,209

3.50%,

5/01/2033

(d)

20,348

19,227

3.50%,

10/01/2033

(d)

24,413

22,932

4.00%,

4/01/2034

(d)

7,290

7,008

2.50%,

8/01/2034

(d)

38,456

34,408

2.50%,

9/01/2034

(d)

609,483

545,329

3.50%,

9/01/2034

(d)

18,223

17,044

4.00%,

10/01/2034

(d)

42,698

40,654

2.50%,

1/01/2035

(d)

123,433

110,441

3.00%,

1/01/2035

(d)

106,130

97,436

2.50%,

2/01/2035

(d)

121,283

108,522

3.00%,

2/01/2035

(d)

6,170

5,664

2.50%,

3/01/2035

(d)

145,795

130,466

3.50%,

3/01/2035

(d)

7,189

6,784

4.00%,

3/01/2035

(d)

26,467

25,402

2.00%,

6/01/2035

(d)

1,097,270

956,820

2.00%,

7/01/2035

(d)

922,873

804,390

2.00%,

7/01/2035

(d)

187,016

163,006

2.50%,

7/01/2035

(d)

20,360

18,182

2.50%,

7/01/2035

(d)

89,397

79,944

3.00%,

7/01/2035

(d)

473,335

434,557

3.50%,

7/01/2035

(d)

461,020

434,023

2.00%,

9/01/2035

(d)

83,391

72,620

112

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

2.50%,

9/01/2035

(d)

38,880

34,751

2.50%,

9/01/2035

(d)

77,521

69,227

3.00%,

9/01/2035

(d)

19,062

17,493

1.50%,

10/01/2035

(d)

220,995

187,278

2.00%,

10/01/2035

(d)

163,882

143,029

2.00%,

10/01/2035

(d)

242,451

211,488

2.00%,

10/01/2035

(d)

13,353

11,659

2.00%,

10/01/2035

(d)

29,626

25,790

5.50%,

10/01/2035

(d)

11,067

11,092

1.50%,

11/01/2035

(d)

14,411

12,209

2.00%,

11/01/2035

(d)

133,146

115,966

2.50%,

11/01/2035

(d)

34,490

30,800

1.50%,

12/01/2035

(d)

91,970

77,903

2.00%,

12/01/2035

(d)

85,203

73,647

2.00%,

12/01/2035

(d)

27,356

23,837

2.50%,

1/01/2036

(d)

63,856

57,006

3.00%,

1/01/2036

(d)

34,488

31,650

2.00%,

2/01/2036

(d)

65,369

56,800

2.50%,

2/01/2036

(d)

167,427

149,840

2.00%,

3/01/2036

(d)

123,282

107,217

2.50%,

3/01/2036

(d)

168,417

150,155

1.50%,

4/01/2036

(d)

17,571

14,903

1.50%,

4/01/2036

(d)

1,573,241

1,326,787

2.00%,

4/01/2036

(d)

454,781

395,953

2.50%,

4/01/2036

(d)

12,363

11,743

3.00%,

4/01/2036

(d)

59,012

53,667

1.50%,

5/01/2036

(d)

177,009

149,731

1.50%,

5/01/2036

(d)

34,519

29,423

2.00%,

5/01/2036

(d)

62,150

54,053

2.00%,

5/01/2036

(d)

298,897

261,135

1.50%,

6/01/2036

(d)

118,717

100,513

2.00%,

6/01/2036

(d)

291,049

252,279

2.00%,

6/01/2036

(d)

210,154

182,123

1.50%,

7/01/2036

(d)

87,710

74,438

2.00%,

7/01/2036

(d)

75,520

65,406

2.50%,

7/01/2036

(d)

1,572,805

1,404,520

2.00%,

8/01/2036

(d)

32,469

28,120

1.50%,

9/01/2036

(d)

247,314

208,972

1.50%,

9/01/2036

(d)

1,814,706

1,535,472

1.50%,

9/01/2036

(d)

26,060

22,020

2.00%,

9/01/2036

(d)

379,687

331,667

2.00%,

9/01/2036

(d)

176,938

153,641

2.50%,

9/01/2036

(d)

74,631

66,247

1.50%,

10/01/2036

(d)

38,683

32,768

1.50%,

10/01/2036

(d)

466,234

396,606

1.50%,

10/01/2036

(d)

38,787

32,765

2.00%,

10/01/2036

(d)

80,686

69,699

2.00%,

10/01/2036

(d)

930,828

806,167

1.50%,

11/01/2036

(d)

58,947

49,781

2.00%,

11/01/2036

(d)

211,825

183,285

2.00%,

11/01/2036

(d)

568,933

493,342

2.00%,

11/01/2036

(d)

42,190

36,529

2.00%,

11/01/2036

(d)

101,150

87,483

1.50%,

12/01/2036

(d)

146,501

123,687

2.00%,

12/01/2036

(d)

76,926

66,660

2.00%,

12/01/2036

(d)

116,027

100,256

3.50%,

12/01/2036

(d)

47,815

44,874

2.00%,

1/01/2037

(d)

1,244,271

1,075,952

2.50%,

1/01/2037

(d)

218,021

193,586

3.50%,

1/01/2037

(d)

14,187

13,163

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

1.50%,

2/01/2037

(d)

476,489

404,395

2.00%,

2/01/2037

(d)

333,054

287,910

2.50%,

2/01/2037

(d)

45,315

40,236

2.50%,

2/01/2037

(d)

14,044

12,455

2.00%,

3/01/2037

(d)

81,674

70,533

2.00%,

3/01/2037

(d)

276,242

240,496

2.00%,

3/01/2037

(d)

114,727

99,894

2.00%,

3/01/2037

(d)

933,723

809,180

2.00%,

3/01/2037

(d)

1,235,611

1,074,595

2.50%,

3/01/2037

(d)

352,606

312,999

1.50%,

4/01/2037

(d)

41,422

34,903

2.00%,

4/01/2037

(d)

687,167

593,436

2.00%,

4/01/2037

(d)

20,314

17,543

2.50%,

4/01/2037

(d)

62,281

55,152

1.50%,

5/01/2037

(d)

462,020

389,306

2.50%,

5/01/2037

(d)

41,943

37,310

3.00%,

5/01/2037

(d)

78,476

71,291

3.50%,

5/01/2037

(d)

86,904

81,554

2.50%,

6/01/2037

(d)

1,629,044

1,446,060

3.00%,

6/01/2037

(d)

40,189

36,510

3.50%,

6/01/2037

(d)

19,046

17,699

2.50%,

7/01/2037

(d)

144,773

128,511

5.63%,

7/15/2037

(d)

365,000

389,007

1.50%,

8/01/2037

(d)

266,498

224,935

1.50%,

8/01/2037

(d)

210,281

177,584

2.00%,

8/01/2037

(d)

45,313

39,132

3.50%,

9/01/2037

(d)

40,079

37,245

3.00%,

10/01/2037

(d)

1,054,191

957,672

3.50%,

11/01/2037

(d)

50,496

46,417

4.00%,

11/01/2037

(d)

61,396

58,335

4.50%,

11/01/2037

(d)

238,298

230,805

3.00%,

12/01/2037

(d)

37,141

33,198

2.50%,

3/01/2038

(d)

16,198

14,357

4.00%,

3/01/2038

(d)

135,721

130,330

3.00%,

4/01/2038

(d)

45,780

41,589

3.00%,

5/01/2038

(d)

28,493

25,528

3.50%,

6/01/2038

(d)

181,267

168,450

4.00%,

6/01/2038

(d)

22,151

21,040

6.00%,

6/01/2038

(d)

123,052

123,622

3.00%,

9/01/2038

(d)

82,010

74,501

3.50%,

11/01/2038

(d)

352,723

327,784

5.50%,

11/01/2038

(d)

143,093

143,544

1.50%,

5/15/2039

(d)(e)

1,450,000

1,221,174

2.00%,

5/15/2039

(d)(e)

800,000

690,528

3.00%,

5/15/2039

(d)(e)

275,000

249,792

4.00%,

5/15/2039

(d)(e)

150,000

142,471

4.50%,

5/15/2039

(d)(e)

100,000

96,754

5.00%,

5/15/2039

(d)(e)

175,000

171,883

5.50%,

5/15/2039

(d)(e)

125,000

124,355

3.50%,

6/01/2039

(d)

55,892

49,821

4.50%,

6/01/2039

(d)

17,866

17,096

2.00%,

6/15/2039

(d)(e)

25,000

21,607

5.50%,

6/15/2039

(d)(e)

25,000

24,861

4.00%,

11/01/2039

(d)

12,181

11,407

4.50%,

2/01/2040

(d)

20,416

19,536

6.00%,

4/01/2040

(d)

26,890

27,601

2.50%,

5/01/2040

(d)

7,995

6,779

2.00%,

8/01/2040

(d)

59,619

48,915

2.50%,

8/01/2040

(d)

89,634

75,932

2.50%,

8/01/2040

(d)

35,731

30,277

113

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

2.00%,

9/01/2040

(d)

52,921

43,624

4.00%,

10/01/2040

(d)

133,264

123,706

2.00%,

11/01/2040

(d)

154,573

126,491

2.00%,

1/01/2041

(d)

34,965

28,597

2.00%,

1/01/2041

(d)

131,070

107,354

3.00%,

1/01/2041

(d)

714,111

638,291

4.50%,

2/01/2041

(d)

22,755

21,692

2.00%,

4/01/2041

(d)

75,784

61,762

4.50%,

4/01/2041

(d)

127,415

121,635

1.50%,

5/01/2041

(d)

63,895

50,473

2.00%,

5/01/2041

(d)

2,652,071

2,157,257

2.50%,

5/01/2041

(d)

38,169

32,122

1.50%,

6/01/2041

(d)

19,999

15,792

1.50%,

7/01/2041

(d)

60,480

47,739

2.00%,

7/01/2041

(d)

395,206

321,292

5.50%,

7/01/2041

(d)

12,863

12,883

2.00%,

8/01/2041

(d)

117,935

95,041

1.50%,

9/01/2041

(d)

41,534

32,708

2.50%,

10/01/2041

(d)

77,808

65,254

1.50%,

11/01/2041

(d)

63,634

50,074

1.50%,

11/01/2041

(d)

1,529,353

1,203,454

2.50%,

11/01/2041

(d)

79,242

66,440

2.00%,

12/01/2041

(d)

131,499

106,758

3.50%,

12/01/2041

(d)

19,361

17,373

1.50%,

1/01/2042

(d)

234,451

185,286

2.00%,

1/01/2042

(d)

1,806,960

1,466,578

2.00%,

2/01/2042

(d)

22,065

17,946

2.50%,

4/01/2042

(d)

151,034

126,118

3.00%,

4/01/2042

(d)

12,885

11,179

3.00%,

4/01/2042

(d)

84,382

72,744

3.50%,

4/01/2042

(d)

50,166

44,965

5.00%,

4/01/2042

(d)

36,693

35,819

2.50%,

5/01/2042

(d)

238,073

199,206

3.00%,

5/01/2042

(d)

43,376

39,404

3.00%,

5/01/2042

(d)

252,618

217,776

4.50%,

5/01/2042

(d)

51,213

48,827

3.50%,

6/01/2042

(d)

15,822

14,182

3.00%,

7/01/2042

(d)

43,861

37,869

3.50%,

7/01/2042

(d)

44,235

39,599

4.00%,

7/01/2042

(d)

23,231

21,502

2.00%,

8/01/2042

(d)

118,285

96,205

3.50%,

8/01/2042

(d)

209,493

187,792

2.50%,

9/01/2042

(d)

22,336

18,690

4.50%,

9/01/2042

(d)

20,480

19,188

2.50%,

10/01/2042

(d)

52,773

44,266

4.00%,

10/01/2042

(d)

21,872

20,115

5.00%,

11/01/2042

(d)

85,444

82,710

3.50%,

12/01/2042

(d)

31,429

28,135

3.00%,

4/01/2043

(d)

146,184

126,464

3.00%,

4/01/2043

(d)

25,164

21,769

3.50%,

6/01/2043

(d)

94,149

84,397

4.00%,

6/01/2043

(d)

243,457

223,896

4.00%,

10/01/2043

(d)

185,586

171,728

5.50%,

1/01/2044

(d)

72,852

71,735

5.50%,

5/01/2044

(d)

103,932

104,015

4.00%,

9/01/2044

(d)

24,257

22,237

3.00%,

10/01/2044

(d)

114,586

99,128

4.00%,

11/01/2044

(d)

23,537

21,620

4.00%,

1/01/2045

(d)

79,260

73,211

4.00%,

2/01/2045

(d)

53,595

49,602

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

3.00%,

4/01/2045

(d)

45,406

39,281

3.50%,

4/01/2045

(d)

13,443

11,959

3.50%,

5/01/2045

(d)

17,474

15,498

3.50%,

6/01/2045

(d)

245,881

220,127

3.50%,

8/01/2045

(d)

82,990

73,463

4.00%,

8/01/2045

(d)

673,545

618,697

3.50%,

11/01/2045

(d)

23,602

20,892

3.50%,

11/01/2045

(d)

483,483

433,727

3.50%,

12/01/2045

(d)

170,828

151,217

3.50%,

12/01/2045

(d)

1,105,400

978,498

3.50%,

1/01/2046

(d)

116,027

102,706

4.00%,

1/01/2046

(d)

51,223

46,887

4.00%,

1/01/2046

(d)

219,096

200,550

3.50%,

2/01/2046

(d)

90,762

80,616

3.50%,

2/01/2046

(d)

39,916

35,425

4.50%,

6/01/2046

(d)

27,444

26,037

3.00%,

9/01/2046

(d)

64,552

55,477

3.50%,

9/01/2046

(d)

78,453

69,447

4.50%,

9/01/2046

(d)

90,634

86,402

3.00%,

10/01/2046

(d)

70,712

60,207

3.00%,

10/01/2046

(d)

163,083

138,866

3.00%,

11/01/2046

(d)

363,783

309,738

3.00%,

11/01/2046

(d)

124,159

105,714

3.00%,

11/01/2046

(d)

47,962

41,046

3.00%,

11/01/2046

(d)

829,365

706,151

4.00%,

11/01/2046

(d)

14,830

13,539

3.50%,

1/01/2047

(d)

414,043

369,352

3.00%,

2/01/2047

(d)

190,423

164,765

3.50%,

2/01/2047

(d)

52,097

45,886

4.00%,

2/01/2047

(d)

11,213

10,264

3.00%,

3/01/2047

(d)

469,939

400,123

4.00%,

3/01/2047

(d)

575,396

527,956

3.50%,

4/01/2047

(d)

16,697

14,841

4.00%,

5/01/2047

(d)

37,486

34,285

4.50%,

5/01/2047

(d)

48,103

45,538

4.00%,

6/01/2047

(d)

284,039

259,306

3.50%,

7/01/2047

(d)

144,225

129,262

3.00%,

8/01/2047

(d)

73,866

63,307

3.50%,

8/01/2047

(d)

67,391

59,293

3.50%,

9/01/2047

(d)

214,893

188,353

3.50%,

10/01/2047

(d)

105,346

93,632

3.50%,

10/01/2047

(d)

197,561

175,293

3.50%,

10/01/2047

(d)

294,531

259,139

4.00%,

10/01/2047

(d)

58,394

53,140

3.50%,

11/01/2047

(d)

224,186

197,247

3.50%,

12/01/2047

(d)

47,922

42,444

3.50%,

12/01/2047

(d)

170,333

149,865

3.00%,

1/01/2048

(d)

94,708

80,574

3.50%,

1/01/2048

(d)

76,228

67,068

4.00%,

1/01/2048

(d)

88,994

80,987

3.50%,

2/01/2048

(d)

458,900

403,757

3.50%,

2/01/2048

(d)

38,863

34,366

4.00%,

2/01/2048

(d)

63,153

57,471

3.50%,

3/01/2048

(d)

173,649

152,604

3.00%,

4/01/2048

(d)

163,138

141,131

3.50%,

4/01/2048

(d)

127,885

113,098

4.50%,

4/01/2048

(d)

9,941

9,319

3.50%,

5/01/2048

(d)

339,643

298,480

4.00%,

6/01/2048

(d)

801,022

739,883

4.50%,

8/01/2048

(d)

23,974

22,474

114

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

4.50%,

8/01/2048

(d)

132,440

124,723

3.00%,

9/01/2048

(d)

382,898

328,166

3.50%,

10/01/2048

(d)

139,615

122,838

4.50%,

10/01/2048

(d)

22,112

20,728

3.00%,

11/01/2048

(d)

132,343

112,681

4.00%,

11/01/2048

(d)

57,238

52,088

4.00%,

11/01/2048

(d)

25,664

23,329

3.00%,

2/01/2049

(d)

4,678,286

3,983,261

4.00%,

2/01/2049

(d)

16,572

15,065

4.00%,

3/01/2049

(d)

115,133

104,660

3.50%,

4/01/2049

(d)

38,464

33,745

3.50%,

4/01/2049

(d)

468,269

408,883

4.50%,

4/01/2049

(d)

44,314

41,544

4.00%,

5/01/2049

(d)

48,549

44,262

4.50%,

5/01/2049

(d)

16,595

15,558

4.50%,

5/01/2049

(d)

7,165

6,713

3.50%,

6/01/2049

(d)

100,200

87,488

4.00%,

6/01/2049

(d)

515,088

468,743

4.00%,

6/01/2049

(d)

134,554

122,448

4.00%,

6/01/2049

(d)

2,925,486

2,662,266

4.00%,

6/01/2049

(d)

52,547

47,819

3.50%,

7/01/2049

(d)

39,159

34,194

4.00%,

7/01/2049

(d)

9,901

8,987

5.00%,

7/01/2049

(d)

8,548

8,233

3.50%,

8/01/2049

(d)

108,682

94,111

3.50%,

8/01/2049

(d)

190,941

167,516

3.50%,

8/01/2049

(d)

3,682,918

3,240,364

4.50%,

8/01/2049

(d)

79,517

74,713

3.00%,

9/01/2049

(d)

454,207

380,752

3.00%,

9/01/2049

(d)

33,720

27,960

3.50%,

9/01/2049

(d)

34,624

30,231

3.50%,

9/01/2049

(d)

64,276

56,390

4.00%,

9/01/2049

(d)

130,476

118,438

4.00%,

9/01/2049

(d)

79,873

73,237

4.00%,

9/01/2049

(d)

943,641

858,583

4.50%,

9/01/2049

(d)

12,697

11,893

5.00%,

9/01/2049

(d)

164,011

159,514

5.00%,

9/01/2049

(d)

55,090

53,061

3.00%,

10/01/2049

(d)

99,689

84,021

2.50%,

11/01/2049

(d)

200,606

161,012

3.00%,

11/01/2049

(d)

96,363

81,335

3.00%,

11/01/2049

(d)

123,510

103,523

3.50%,

11/01/2049

(d)

233,000

203,440

4.50%,

11/01/2049

(d)

6,138

5,751

5.00%,

11/01/2049

(d)

144,462

140,365

3.00%,

12/01/2049

(d)

59,842

50,510

3.50%,

12/01/2049

(d)

50,722

44,291

2.50%,

1/01/2050

(d)

1,708,375

1,371,190

3.50%,

1/01/2050

(d)

398,862

350,933

3.50%,

1/01/2050

(d)

36,652

32,156

3.00%,

2/01/2050

(d)

79,017

66,694

3.00%,

2/01/2050

(d)

412,441

348,839

3.00%,

2/01/2050

(d)

48,780

41,258

3.00%,

3/01/2050

(d)

50,569

42,540

4.00%,

3/01/2050

(d)

299,531

272,282

4.50%,

3/01/2050

(d)

57,653

54,049

5.00%,

3/01/2050

(d)

82,799

79,773

2.50%,

4/01/2050

(d)

47,861

38,630

3.00%,

4/01/2050

(d)

952,023

803,555

3.00%,

4/01/2050

(d)

49,941

41,860

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

3.50%,

4/01/2050

(d)

223,070

196,488

4.00%,

4/01/2050

(d)

28,982

26,308

2.50%,

5/01/2050

(d)

468,899

379,280

2.50%,

5/01/2050

(d)

213,068

172,043

3.50%,

5/01/2050

(d)

13,253

11,559

3.50%,

5/01/2050

(d)

157,126

137,960

2.50%,

6/01/2050

(d)

162,412

131,090

4.00%,

6/01/2050

(d)

19,176

17,427

4.00%,

6/01/2050

(d)

35,676

32,318

5.00%,

6/01/2050

(d)

1,639,617

1,579,258

2.50%,

7/01/2050

(d)

78,910

63,617

3.00%,

7/01/2050

(d)

4,335,571

3,688,566

3.00%,

7/01/2050

(d)

50,298

42,224

3.00%,

7/01/2050

(d)

115,120

96,416

3.00%,

7/01/2050

(d)

26,308

22,029

3.00%,

7/01/2050

(d)

54,934

46,187

3.50%,

7/01/2050

(d)

445,449

394,456

3.50%,

7/01/2050

(d)

21,675

18,892

4.00%,

7/01/2050

(d)

148,431

133,815

2.50%,

8/01/2050

(d)

150,954

121,418

2.50%,

8/01/2050

(d)

609,414

482,768

2.50%,

8/01/2050

(d)

73,097

58,772

4.00%,

8/01/2050

(d)

448,167

408,599

4.00%,

8/01/2050

(d)

203,101

185,415

2.00%,

9/01/2050

(d)

297,680

226,938

2.00%,

9/01/2050

(d)

28,414

21,786

2.00%,

9/01/2050

(d)

697,430

534,313

2.00%,

9/01/2050

(d)

28,872

22,352

2.00%,

9/01/2050

(d)

369,239

283,311

2.00%,

9/01/2050

(d)

367,245

282,908

2.00%,

9/01/2050

(d)

36,530

27,837

2.00%,

9/01/2050

(d)

43,884

33,441

2.50%,

9/01/2050

(d)

65,002

52,269

2.50%,

9/01/2050

(d)

667,489

542,757

3.00%,

9/01/2050

(d)

715,678

598,766

3.00%,

9/01/2050

(d)

37,382

31,337

3.00%,

9/01/2050

(d)

172,448

144,289

3.50%,

9/01/2050

(d)

30,698

26,976

4.50%,

9/01/2050

(d)

173,832

162,950

2.00%,

10/01/2050

(d)

224,998

173,188

2.00%,

10/01/2050

(d)

28,377

21,758

2.00%,

10/01/2050

(d)

70,527

54,190

3.00%,

10/01/2050

(d)

77,863

65,263

4.00%,

10/01/2050

(d)

38,664

35,025

1.50%,

11/01/2050

(d)

1,686,546

1,214,336

2.00%,

11/01/2050

(d)

714,520

544,274

2.00%,

11/01/2050

(d)

1,908,795

1,464,587

2.00%,

11/01/2050

(d)

444,024

335,658

2.00%,

11/01/2050

(d)

128,580

99,154

2.00%,

11/01/2050

(d)

1,063,531

803,973

2.50%,

11/01/2050

(d)

192,892

155,512

3.50%,

11/01/2050

(d)

190,136

165,835

1.50%,

12/01/2050

(d)

108,275

77,951

1.50%,

12/01/2050

(d)

77,660

56,008

2.00%,

12/01/2050

(d)

236,145

179,953

2.00%,

12/01/2050

(d)

691,521

526,540

2.00%,

12/01/2050

(d)

112,013

86,220

2.00%,

12/01/2050

(d)

56,664

43,145

2.00%,

12/01/2050

(d)

250,880

191,026

2.00%,

12/01/2050

(d)

427,660

325,560

115

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

2.00%,

12/01/2050

(d)

148,461

113,695

2.00%,

12/01/2050

(d)

517,471

397,277

2.50%,

12/01/2050

(d)

860,595

681,991

2.50%,

12/01/2050

(d)

238,013

191,113

3.00%,

12/01/2050

(d)

103,835

87,032

3.00%,

12/01/2050

(d)

746,099

623,524

1.50%,

1/01/2051

(d)

1,527,821

1,099,815

2.00%,

1/01/2051

(d)

4,602,192

3,502,787

2.00%,

1/01/2051

(d)

152,007

116,911

2.00%,

1/01/2051

(d)

176,417

134,218

2.00%,

1/01/2051

(d)

454,683

345,990

2.00%,

1/01/2051

(d)

1,211,652

936,929

3.00%,

1/01/2051

(d)

208,070

173,822

1.50%,

2/01/2051

(d)

1,961,378

1,411,762

1.50%,

2/01/2051

(d)

76,885

55,409

2.00%,

2/01/2051

(d)

1,304,628

992,564

2.00%,

2/01/2051

(d)

214,244

164,120

2.50%,

2/01/2051

(d)

210,496

169,441

2.50%,

2/01/2051

(d)

510,960

407,272

2.50%,

2/01/2051

(d)

823,895

664,224

2.50%,

2/01/2051

(d)

16,932

13,592

2.50%,

2/01/2051

(d)

131,088

105,176

2.50%,

2/01/2051

(d)

231,483

183,160

3.50%,

2/01/2051

(d)

164,741

144,820

1.50%,

3/01/2051

(d)

60,155

43,693

2.00%,

3/01/2051

(d)

244,668

185,012

2.00%,

3/01/2051

(d)

847,629

644,071

4.00%,

3/01/2051

(d)

3,038,605

2,765,207

2.00%,

4/01/2051

(d)

554,735

421,344

2.00%,

4/01/2051

(d)

118,120

90,290

2.00%,

4/01/2051

(d)

43,806

33,084

2.00%,

4/01/2051

(d)

161,454

122,605

2.00%,

4/01/2051

(d)

86,675

65,806

2.50%,

4/01/2051

(d)

2,913,139

2,320,329

2.50%,

4/01/2051

(d)

155,496

123,162

3.00%,

4/01/2051

(d)

899,172

755,105

2.00%,

5/01/2051

(d)

303,303

230,277

2.00%,

5/01/2051

(d)

1,839,939

1,397,508

2.00%,

5/01/2051

(d)

475,308

358,972

2.50%,

5/01/2051

(d)

439,603

350,010

2.50%,

5/01/2051

(d)

4,584,110

3,656,711

2.50%,

5/01/2051

(d)

167,368

132,544

2.50%,

5/01/2051

(d)

629,534

501,543

2.50%,

5/01/2051

(d)

104,672

82,921

3.00%,

5/01/2051

(d)

846,912

699,840

3.00%,

5/01/2051

(d)

101,423

84,871

1.50%,

6/01/2051

(d)

165,633

120,280

1.50%,

6/01/2051

(d)

105,940

76,068

2.50%,

6/01/2051

(d)

113,809

91,997

3.00%,

6/01/2051

(d)

217,583

179,715

3.00%,

6/01/2051

(d)

137,100

114,657

2.00%,

7/01/2051

(d)

311,672

236,437

2.00%,

7/01/2051

(d)

113,943

86,830

2.00%,

7/01/2051

(d)

1,691,195

1,288,765

2.00%,

7/01/2051

(d)

278,725

211,915

2.00%,

7/01/2051

(d)

248,278

190,748

2.00%,

7/01/2051

(d)

172,796

131,192

2.50%,

7/01/2051

(d)

78,470

62,970

2.50%,

7/01/2051

(d)

1,471,444

1,164,279

2.50%,

7/01/2051

(d)

250,585

200,620

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

2.50%,

7/01/2051

(d)

535,809

430,315

3.50%,

7/01/2051

(d)

863,921

760,109

1.50%,

8/01/2051

(d)

87,534

62,929

2.00%,

8/01/2051

(d)

21,387

16,217

2.00%,

8/01/2051

(d)

592,511

449,116

2.00%,

8/01/2051

(d)

232,665

177,322

2.50%,

8/01/2051

(d)

452,494

362,271

2.50%,

8/01/2051

(d)

134,450

106,383

2.50%,

8/01/2051

(d)

463,612

372,476

2.50%,

8/01/2051

(d)

405,532

324,717

2.50%,

8/01/2051

(d)

120,097

96,711

2.50%,

8/01/2051

(d)

363,511

293,520

2.50%,

8/01/2051

(d)

275,559

219,143

2.00%,

9/01/2051

(d)

3,780,961

2,876,564

2.00%,

9/01/2051

(d)

517,605

393,216

2.00%,

9/01/2051

(d)

535,347

405,621

2.00%,

9/01/2051

(d)

341,680

258,051

2.50%,

9/01/2051

(d)

381,710

303,442

2.50%,

9/01/2051

(d)

81,655

65,333

2.50%,

9/01/2051

(d)

274,486

217,417

1.50%,

10/01/2051

(d)

1,250,659

898,007

2.00%,

10/01/2051

(d)

105,102

80,479

2.00%,

10/01/2051

(d)

167,605

128,391

2.00%,

10/01/2051

(d)

3,692,555

2,797,770

2.00%,

10/01/2051

(d)

1,103,529

846,455

2.00%,

10/01/2051

(d)

172,350

130,878

2.00%,

10/01/2051

(d)

189,417

145,041

2.50%,

10/01/2051

(d)

1,100,486

874,495

2.50%,

10/01/2051

(d)

427,780

342,220

2.00%,

11/01/2051

(d)

76,684

57,915

2.00%,

11/01/2051

(d)

5,811,206

4,422,983

2.50%,

11/01/2051

(d)

264,955

210,594

2.50%,

11/01/2051

(d)

262,333

212,056

2.50%,

11/01/2051

(d)

406,379

328,260

2.50%,

11/01/2051

(d)

5,681,456

4,512,976

3.00%,

11/01/2051

(d)

103,410

86,043

2.00%,

12/01/2051

(d)

217,047

166,350

2.00%,

12/01/2051

(d)

129,218

98,864

2.50%,

12/01/2051

(d)

254,398

201,998

2.50%,

12/01/2051

(d)

197,217

156,280

2.50%,

12/01/2051

(d)

986,529

792,506

2.50%,

12/01/2051

(d)

509,555

407,378

2.50%,

12/01/2051

(d)

83,369

66,618

2.50%,

12/01/2051

(d)

1,054,739

842,935

3.00%,

12/01/2051

(d)

160,455

132,616

3.00%,

12/01/2051

(d)

3,490,485

2,925,634

3.00%,

12/01/2051

(d)

41,091

34,417

3.50%,

12/01/2051

(d)

370,877

325,866

3.50%,

12/01/2051

(d)

239,663

209,562

2.00%,

1/01/2052

(d)

1,383,352

1,046,848

2.50%,

1/01/2052

(d)

408,373

329,526

2.50%,

1/01/2052

(d)

230,596

186,546

2.50%,

1/01/2052

(d)

142,915

113,174

2.50%,

1/01/2052

(d)

426,175

340,413

2.50%,

1/01/2052

(d)

145,988

116,974

2.50%,

1/01/2052

(d)

141,936

112,307

3.50%,

1/01/2052

(d)

68,164

60,018

2.00%,

2/01/2052

(d)

3,811,681

2,885,663

2.00%,

2/01/2052

(d)

237,463

181,850

2.00%,

2/01/2052

(d)

271,091

205,523

116

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

2.00%,

2/01/2052

(d)

2,941,070

2,226,526

2.00%,

2/01/2052

(d)

2,782,355

2,106,753

2.00%,

2/01/2052

(d)

424,386

322,207

2.50%,

2/01/2052

(d)

685,141

548,960

2.50%,

2/01/2052

(d)

261,661

207,603

2.50%,

2/01/2052

(d)

3,492,668

2,773,263

2.50%,

2/01/2052

(d)

83,687

66,821

2.50%,

2/01/2052

(d)

98,638

79,401

2.50%,

2/01/2052

(d)

86,264

69,245

3.00%,

2/01/2052

(d)

266,391

222,228

2.00%,

3/01/2052

(d)

386,230

298,384

2.00%,

3/01/2052

(d)

512,868

393,032

2.50%,

3/01/2052

(d)

567,863

451,602

2.50%,

3/01/2052

(d)

150,948

120,751

2.50%,

3/01/2052

(d)

91,624

72,610

3.00%,

3/01/2052

(d)

48,006

39,896

3.00%,

3/01/2052

(d)

616,023

509,047

3.00%,

3/01/2052

(d)

172,787

143,800

3.00%,

3/01/2052

(d)

261,895

218,299

3.00%,

3/01/2052

(d)

89,272

73,951

3.50%,

3/01/2052

(d)

173,763

149,787

3.50%,

3/01/2052

(d)

41,856

36,082

1.50%,

4/01/2052

(d)

543,582

390,787

2.00%,

4/01/2052

(d)

113,883

86,036

2.00%,

4/01/2052

(d)

632,703

484,918

2.00%,

4/01/2052

(d)

4,040,672

3,065,292

2.50%,

4/01/2052

(d)

654,326

518,702

3.00%,

4/01/2052

(d)

923,104

764,681

3.50%,

4/01/2052

(d)

137,075

118,671

3.50%,

4/01/2052

(d)

169,300

146,708

3.50%,

4/01/2052

(d)

116,454

100,509

2.00%,

5/01/2052

(d)

937,738

709,922

2.50%,

5/01/2052

(d)

97,006

76,756

2.50%,

5/01/2052

(d)

136,440

108,127

3.00%,

5/01/2052

(d)

385,763

322,496

3.50%,

5/01/2052

(d)

45,263

39,002

3.50%,

5/01/2052

(d)

182,120

157,952

3.50%,

5/01/2052

(d)

93,211

80,448

4.00%,

5/01/2052

(d)

23,500

21,012

4.00%,

5/01/2052

(d)

90,867

81,251

2.00%,

6/01/2052

(d)

1,119,412

848,502

2.00%,

6/01/2052

(d)

227,383

172,088

3.00%,

6/01/2052

(d)

477,694

398,121

3.00%,

6/01/2052

(d)

1,677,729

1,387,249

3.50%,

6/01/2052

(d)

194,063

168,280

3.50%,

6/01/2052

(d)

180,712

156,702

3.50%,

6/01/2052

(d)

22,730

19,615

4.00%,

6/01/2052

(d)

248,283

222,617

2.50%,

7/01/2052

(d)

675,458

535,290

3.50%,

7/01/2052

(d)

35,412

30,913

4.00%,

7/01/2052

(d)

208,597

186,719

4.50%,

7/01/2052

(d)

22,451

20,724

4.50%,

7/01/2052

(d)

135,939

126,094

4.50%,

7/01/2052

(d)

3,828,044

3,588,412

2.50%,

8/01/2052

(d)

22,773

18,048

3.50%,

8/01/2052

(d)

479,221

413,477

3.50%,

8/01/2052

(d)

291,973

252,667

3.50%,

8/01/2052

(d)

361,070

313,902

4.00%,

8/01/2052

(d)

91,430

81,755

4.50%,

8/01/2052

(d)

160,356

148,422

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

5.00%,

8/01/2052

(d)

21,804

20,733

5.00%,

8/01/2052

(d)

69,259

66,537

5.00%,

8/01/2052

(d)

43,161

41,041

2.50%,

9/01/2052

(d)

924,278

732,475

2.50%,

9/01/2052

(d)

1,987,668

1,580,106

2.50%,

9/01/2052

(d)

820,885

652,566

2.50%,

9/01/2052

(d)

91,361

72,486

4.00%,

9/01/2052

(d)

91,495

81,809

4.50%,

9/01/2052

(d)

262,214

241,965

4.50%,

9/01/2052

(d)

90,378

83,402

4.50%,

9/01/2052

(d)

240,127

221,527

5.00%,

9/01/2052

(d)

39,707

37,742

5.00%,

9/01/2052

(d)

4,098,598

3,897,366

5.00%,

9/01/2052

(d)

46,257

43,966

5.00%,

9/01/2052

(d)

134,677

128,005

3.50%,

10/01/2052

(d)

201,108

173,447

4.00%,

10/01/2052

(d)

22,838

20,420

4.50%,

10/01/2052

(d)

3,690,429

3,404,575

5.00%,

10/01/2052

(d)

287,960

273,599

5.50%,

10/01/2052

(d)

272,485

265,257

5.50%,

10/01/2052

(d)

21,271

20,707

3.50%,

11/01/2052

(d)

46,777

40,329

4.00%,

11/01/2052

(d)

23,385

20,909

4.50%,

11/01/2052

(d)

138,230

127,484

5.50%,

11/01/2052

(d)

182,040

177,287

4.50%,

12/01/2052

(d)

125,280

115,541

5.50%,

12/01/2052

(d)

67,121

65,307

6.00%,

12/01/2052

(d)

175,310

175,406

4.00%,

1/01/2053

(d)

189,050

169,036

5.50%,

1/01/2053

(d)

1,679,916

1,633,923

4.00%,

2/01/2053

(d)

4,102,387

3,668,093

4.00%,

2/01/2053

(d)

117,538

105,100

4.50%,

2/01/2053

(d)

349,973

322,571

5.00%,

2/01/2053

(d)

162,062

153,729

5.50%,

2/01/2053

(d)

143,486

140,182

5.50%,

2/01/2053

(d)

1,040,974

1,011,211

6.00%,

2/01/2053

(d)

181,110

180,630

6.00%,

2/01/2053

(d)

22,764

22,751

4.00%,

3/01/2053

(d)

71,737

64,463

4.00%,

3/01/2053

(d)

224,715

200,926

5.00%,

3/01/2053

(d)

46,283

43,881

5.50%,

3/01/2053

(d)

116,726

113,395

5.00%,

4/01/2053

(d)

48,140

45,641

5.00%,

4/01/2053

(d)

71,020

67,336

5.50%,

4/01/2053

(d)

91,371

88,756

5.00%,

5/01/2053

(d)

162,802

154,352

5.00%,

5/01/2053

(d)

71,210

67,514

5.50%,

5/01/2053

(d)

509,987

495,347

4.50%,

6/01/2053

(d)

24,035

22,188

5.50%,

6/01/2053

(d)

69,859

67,849

5.50%,

6/01/2053

(d)

47,364

46,005

5.50%,

6/01/2053

(d)

94,726

92,021

4.00%,

7/01/2053

(d)

239,491

214,089

4.50%,

7/01/2053

(d)

192,100

177,041

5.00%,

7/01/2053

(d)

71,287

68,105

5.00%,

7/01/2053

(d)

285,860

271,021

5.00%,

7/01/2053

(d)

23,370

22,176

5.50%,

7/01/2053

(d)

331,554

323,601

6.00%,

7/01/2053

(d)

468,511

466,361

6.00%,

7/01/2053

(d)

478,739

474,386

117

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

(continued)

6.50%,

7/01/2053

(d)

1,135,156

1,144,035

4.00%,

8/01/2053

(d)

145,554

130,115

5.00%,

8/01/2053

(d)

96,733

91,792

6.00%,

8/01/2053

(d)

241,453

239,257

4.00%,

9/01/2053

(d)

72,620

64,918

4.50%,

9/01/2053

(d)

97,582

89,932

6.00%,

9/01/2053

(d)

373,758

370,992

6.00%,

9/01/2053

(d)

95,414

94,609

6.50%,

9/01/2053

(d)

236,300

240,119

3.00%,

10/01/2053

(d)

149,255

123,448

6.00%,

10/01/2053

(d)

287,454

285,327

6.00%,

10/01/2053

(d)

491,658

490,858

6.00%,

10/01/2053

(d)

490,823

486,361

6.50%,

10/01/2053

(d)

241,738

244,745

6.50%,

10/01/2053

(d)

239,496

244,304

5.50%,

11/01/2053

(d)

289,849

284,262

5.50%,

11/01/2053

(d)

242,431

235,378

6.00%,

11/01/2053

(d)

741,792

735,048

6.50%,

11/01/2053

(d)

233,371

235,197

5.50%,

12/01/2053

(d)

975,725

947,328

6.00%,

12/01/2053

(d)

383,731

380,242

6.50%,

1/01/2054

(d)

98,027

99,365

6.50%,

1/01/2054

(d)

948,673

956,093

7.00%,

1/01/2054

(d)

94,079

96,039

5.00%,

2/01/2054

(d)

99,230

94,495

6.50%,

2/01/2054

(d)

481,653

485,421

1.50%,

5/15/2054

(d)(e)

575,000

412,608

2.00%,

5/15/2054

(d)(e)

1,675,000

1,264,744

2.50%,

5/15/2054

(d)(e)

1,525,000

1,206,460

3.00%,

5/15/2054

(d)(e)

500,000

412,899

3.50%,

5/15/2054

(d)(e)

1,325,000

1,141,643

4.00%,

5/15/2054

(d)(e)

675,000

603,360

4.50%,

5/15/2054

(d)(e)

425,000

391,664

5.00%,

5/15/2054

(d)(e)

2,125,000

2,014,549

5.50%,

5/15/2054

(d)(e)

1,225,000

1,189,237

6.00%,

5/15/2054

(d)(e)

2,900,000

2,873,210

6.50%,

5/15/2054

(d)(e)

3,400,000

3,426,282

7.00%,

5/15/2054

(d)(e)

2,625,000

2,678,261

5.00%,

6/15/2054

(d)(e)

200,000

189,595

5.50%,

6/15/2054

(d)(e)

1,000,000

970,702

6.00%,

6/15/2054

(d)(e)

600,000

594,271

6.50%,

6/15/2054

(d)(e)

275,000

276,941

Federal

National

Mortgage

Association

REMICs

Series

2017-M13,

Class

A2,

3.03%,

9/25/2027

(d)

220,042

205,654

Series

2022-M11,

Class

A2,

3.05%,

10/25/2027

(d)

175,315

163,822

Series

2018-M1,

Class

A2,

3.09%,

12/25/2027

(d)

33,501

31,292

Series

2019-M1,

Class

A2,

3.67%,

9/25/2028

(d)

21,597

20,331

Series

2019-M5,

Class

A2,

3.27%,

2/25/2029

(d)

38,858

35,981

Series

2019-M7,

Class

A2,

3.14%,

4/25/2029

(d)

15,704

14,389

Series

2019-M12,

Class

A2,

2.89%,

6/25/2029

(d)

98,090

88,738

Series

2019-M22,

Class

A2,

2.52%,

8/25/2029

(d)

35,626

31,609

Series

2020-M20,

Class

A2,

1.44%,

10/25/2029

(d)

200,000

164,505

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Federal

National

Mortgage

Association

REMICs

(continued)

Series

2020-M1,

Class

A1,

2.15%,

10/25/2029

(d)

16,966

15,893

Series

2020-M1,

Class

A2,

2.44%,

10/25/2029

(d)

200,000

174,695

Series

2019-M25,

Class

A2,

2.33%,

11/25/2029

(d)

735,453

641,707

Series

2018-M12,

Class

A2,

3.76%,

8/25/2030

(d)

750,000

688,437

Series

2018-M13,

Class

A2,

3.86%,

9/25/2030

(d)

7,702

7,125

Series

2021-M1G,

Class

A2,

1.52%,

11/25/2030

(d)

60,000

47,833

Series

2022-M3,

Class

A2,

1.76%,

11/25/2031

(d)

100,000

78,599

Series

2022-M13,

Class

A2,

2.68%,

6/25/2032

(d)

240,000

200,005

Series

2021-M13,

Class

2A1,

1.49%,

11/25/2032

(d)

78,538

70,292

Series

2023-M8,

Class

A2,

4.62%,

3/25/2033

(d)

500,000

475,740

Government

National

Mortgage

Association

II

3.50%,

10/20/2026

9,224

8,960

2.50%,

12/20/2037

35,899

31,907

5.00%,

9/20/2039

59,718

58,776

4.50%,

2/20/2040

25,898

24,817

4.00%,

10/20/2040

16,961

15,800

5.00%,

10/20/2040

20,467

20,114

4.00%,

11/20/2040

44,940

41,863

4.50%,

1/20/2041

11,885

11,393

4.50%,

9/20/2041

22,735

21,815

4.00%,

11/20/2041

15,632

14,525

3.00%,

6/20/2042

18,832

16,443

3.00%,

8/20/2042

45,397

39,637

2.50%,

2/20/2043

222,878

186,198

3.50%,

2/20/2043

37,020

33,408

3.50%,

3/20/2043

27,841

25,175

3.00%,

4/20/2043

58,414

50,772

3.50%,

7/20/2043

74,241

66,799

4.00%,

6/20/2044

1,450,588

1,341,579

3.50%,

9/20/2044

160,792

144,626

4.00%,

11/20/2044

185,628

171,679

4.50%,

1/20/2045

22,571

21,505

3.50%,

2/20/2045

28,626

25,748

3.50%,

6/20/2045

216,223

194,146

3.00%,

8/20/2045

256,818

222,559

3.50%,

11/20/2045

196,585

176,513

3.50%,

12/20/2045

38,690

34,740

3.50%,

3/20/2046

201,344

179,765

4.00%,

3/20/2046

90,948

83,937

3.00%,

4/20/2046

36,101

31,200

3.00%,

6/20/2046

434,008

375,087

3.50%,

6/20/2046

72,222

64,481

4.00%,

6/20/2046

109,723

100,970

3.00%,

9/20/2046

174,852

151,114

2.50%,

10/20/2046

8,080

6,746

3.00%,

10/20/2046

178,419

154,402

3.00%,

11/20/2046

391,552

338,394

3.50%,

11/20/2046

76,971

68,721

2.50%,

12/20/2046

135,479

113,107

3.00%,

12/20/2046

97,134

83,947

118

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Government

National

Mortgage

Association

II

(continued)

3.00%,

1/20/2047

75,850

65,552

4.00%,

1/20/2047

94,845

87,279

3.00%,

2/20/2047

345,444

298,546

3.50%,

2/20/2047

296,130

264,392

4.00%,

2/20/2047

63,241

58,196

3.00%,

5/20/2047

63,760

55,025

3.50%,

5/20/2047

104,927

93,531

4.00%,

8/20/2047

164,902

151,718

4.50%,

9/20/2047

28,829

27,236

3.00%,

10/20/2047

9,442

8,148

3.00%,

1/20/2048

414,504

357,716

3.50%,

1/20/2048

360,470

321,321

3.50%,

2/20/2048

139,676

124,507

4.50%,

3/20/2048

154,435

145,901

4.00%,

4/20/2048

303,963

279,035

3.50%,

5/20/2048

130,184

116,045

4.50%,

5/20/2048

125,529

118,592

4.50%,

6/20/2048

78,404

74,051

5.00%,

6/20/2048

65,489

63,683

4.00%,

7/20/2048

11,034

10,129

4.00%,

9/20/2048

11,469

10,528

3.50%,

10/20/2048

1,348,745

1,201,099

4.00%,

11/20/2048

33,599

30,843

4.50%,

11/20/2048

83,852

79,196

5.00%,

12/20/2048

36,451

35,400

3.50%,

1/20/2049

93,625

83,457

4.50%,

1/20/2049

21,180

20,004

4.00%,

2/20/2049

1,433,218

1,315,680

4.50%,

2/20/2049

1,359,706

1,284,212

5.00%,

2/20/2049

30,424

29,547

3.50%,

3/20/2049

19,989

17,801

4.00%,

3/20/2049

75,308

69,132

3.50%,

4/20/2049

484,725

431,663

4.00%,

5/20/2049

48,191

44,238

3.00%,

6/20/2049

3,198,096

2,759,951

3.00%,

7/20/2049

1,485,177

1,275,786

3.00%,

8/20/2049

30,790

26,425

3.50%,

9/20/2049

166,623

147,943

4.00%,

9/20/2049

147,576

135,321

3.00%,

10/20/2049

158,244

135,733

4.50%,

10/20/2049

71,382

67,419

2.50%,

11/20/2049

1,589,745

1,309,733

2.50%,

12/20/2049

74,457

61,319

3.50%,

12/20/2049

40,808

36,233

3.00%,

1/20/2050

211,810

181,685

3.00%,

2/20/2050

341,203

292,588

3.50%,

4/20/2050

76,254

67,705

2.00%,

5/20/2050

394,010

311,596

4.00%,

5/20/2050

12,600

11,554

5.00%,

5/20/2050

27,812

27,168

2.50%,

6/20/2050

673,411

554,394

2.50%,

7/20/2050

532,991

438,627

3.00%,

7/20/2050

52,603

45,014

3.50%,

7/20/2050

1,295,872

1,150,593

2.00%,

8/20/2050

1,179,195

931,526

3.00%,

8/20/2050

28,504

24,384

4.00%,

8/20/2050

76,206

69,878

4.50%,

8/20/2050

17,811

16,823

2.50%,

9/20/2050

510,454

419,764

4.50%,

9/20/2050

14,777

13,956

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Government

National

Mortgage

Association

II

(continued)

2.00%,

10/20/2050

128,450

101,416

2.50%,

10/20/2050

3,761,438

3,091,998

2.00%,

11/20/2050

2,857,091

2,255,152

3.00%,

11/20/2050

1,736,037

1,484,698

3.50%,

11/20/2050

20,091

17,839

2.00%,

12/20/2050

312,221

246,374

2.50%,

12/20/2050

276,558

227,166

3.50%,

12/20/2050

10,973

9,746

2.00%,

1/20/2051

3,555,477

2,804,860

2.50%,

1/20/2051

340,687

279,738

3.00%,

1/20/2051

541,415

462,763

1.50%,

2/20/2051

74,027

56,156

2.50%,

2/20/2051

220,190

181,102

3.00%,

2/20/2051

175,221

149,723

2.00%,

3/20/2051

1,096,317

864,870

2.50%,

3/20/2051

322,390

265,099

4.00%,

3/20/2051

47,881

43,905

2.00%,

4/20/2051

199,245

157,151

2.50%,

4/20/2051

293,270

240,863

3.50%,

4/20/2051

92,705

82,078

2.00%,

5/20/2051

333,133

262,701

2.50%,

5/20/2051

351,161

288,627

2.00%,

6/20/2051

131,245

103,477

2.50%,

6/20/2051

194,790

160,066

2.00%,

7/20/2051

174,308

137,401

2.50%,

7/20/2051

19,084

15,679

3.50%,

7/20/2051

85,631

75,759

2.50%,

8/20/2051

427,864

351,433

2.00%,

9/20/2051

1,103,949

869,866

2.50%,

9/20/2051

185,987

152,729

3.00%,

9/20/2051

2,218,381

1,890,683

2.00%,

10/20/2051

677,274

533,559

2.50%,

10/20/2051

4,163,404

3,418,131

3.50%,

10/20/2051

385,681

340,318

2.00%,

11/20/2051

1,021,437

804,535

2.50%,

11/20/2051

408,699

335,464

3.00%,

11/20/2051

327,406

278,890

2.00%,

12/20/2051

4,660,187

3,669,872

2.50%,

12/20/2051

248,783

204,204

3.00%,

12/20/2051

174,760

148,823

2.00%,

1/20/2052

2,366,253

1,863,045

2.50%,

1/20/2052

4,855,107

3,984,213

3.00%,

1/20/2052

1,176,738

1,001,820

3.50%,

1/20/2052

573,683

505,930

2.00%,

2/20/2052

129,293

101,921

2.50%,

2/20/2052

1,185,216

972,396

3.50%,

2/20/2052

470,395

414,803

2.00%,

3/20/2052

306,050

240,899

2.50%,

3/20/2052

920,228

754,999

3.00%,

3/20/2052

1,277,143

1,086,311

2.00%,

4/20/2052

30,648

24,121

3.00%,

4/20/2052

195,952

166,673

3.50%,

4/20/2052

551,747

486,099

2.50%,

5/20/2052

1,047,279

859,109

3.00%,

5/20/2052

88,143

74,972

3.50%,

5/20/2052

93,086

82,003

2.00%,

6/20/2052

748,522

590,055

2.50%,

6/20/2052

30,298

24,854

3.00%,

6/20/2052

110,503

93,992

4.00%,

6/20/2052

156,915

142,348

119

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Government

National

Mortgage

Association

II

(continued)

3.00%,

7/20/2052

604,616

514,273

3.50%,

7/20/2052

90,133

79,388

4.50%,

7/20/2052

405,661

378,401

5.00%,

7/20/2052

120,593

115,555

3.00%,

8/20/2052

151,726

129,055

3.50%,

8/20/2052

3,106,040

2,735,996

4.00%,

8/20/2052

205,718

186,375

4.50%,

8/20/2052

494,322

461,494

3.50%,

9/20/2052

91,557

80,639

4.00%,

9/20/2052

252,733

228,970

4.50%,

9/20/2052

297,460

277,471

5.50%,

9/20/2052

129,433

127,127

4.00%,

10/20/2052

23,218

21,035

4.50%,

10/20/2052

216,877

202,303

3.00%,

11/20/2052

268,911

229,330

4.00%,

11/20/2052

46,599

42,217

4.00%,

12/20/2052

344,709

312,297

6.50%,

12/20/2052

69,412

70,274

5.00%,

1/20/2053

233,470

223,715

3.50%,

2/20/2053

45,585

40,429

4.50%,

2/20/2053

491,976

458,915

5.00%,

2/20/2053

2,807,955

2,690,634

5.50%,

2/20/2053

911,593

894,310

4.50%,

3/20/2053

204,690

190,935

4.00%,

4/20/2053

95,145

86,199

4.50%,

4/20/2053

240,132

223,686

5.50%,

4/20/2053

191,455

187,771

4.00%,

5/20/2053

33,500

30,350

5.50%,

5/20/2053

71,400

70,026

6.50%,

5/20/2053

136,010

137,747

3.50%,

6/20/2053

244,035

216,165

4.00%,

6/20/2053

72,127

65,345

4.50%,

6/20/2053

48,605

45,276

5.00%,

6/20/2053

48,583

46,500

4.50%,

7/20/2053

195,499

182,110

5.00%,

7/20/2053

454,188

434,713

5.50%,

7/20/2053

265,686

260,573

3.50%,

8/20/2053

70,893

62,945

4.00%,

8/20/2053

2,071,539

1,876,760

4.50%,

8/20/2053

980,865

913,688

5.00%,

8/20/2053

1,033,604

989,284

4.00%,

9/20/2053

292,275

264,794

5.00%,

9/20/2053

614,767

588,406

4.00%,

10/20/2053

171,234

155,413

5.00%,

10/20/2053

222,461

212,922

5.50%,

10/20/2053

2,367,746

2,322,178

3.50%,

11/20/2053

73,464

65,090

4.00%,

11/20/2053

523,376

474,165

4.50%,

11/20/2053

24,796

23,098

6.00%,

11/20/2053

2,594,917

2,602,598

4.00%,

12/20/2053

99,053

89,739

5.00%,

12/20/2053

99,118

94,868

6.50%,

12/20/2053

98,729

99,990

5.50%,

2/20/2054

248,889

244,099

5.00%,

4/20/2054

125,000

119,626

2.00%,

5/15/2054

(e)

1,125,000

885,341

2.50%,

5/15/2054

(e)

525,000

430,438

3.00%,

5/15/2054

(e)

200,000

170,083

3.50%,

5/15/2054

(e)

1,675,000

1,475,172

4.50%,

5/15/2054

(e)

2,025,000

1,886,510

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

–

27.2%

(continued)

Government

National

Mortgage

Association

II

(continued)

5.00%,

5/15/2054

(e)

1,550,000

1,483,556

5.50%,

5/15/2054

(e)

2,250,000

2,206,107

6.00%,

5/15/2054

(e)

2,375,000

2,381,104

6.50%,

5/15/2054

(e)

2,625,000

2,656,972

7.00%,

5/15/2054

(e)

1,125,000

1,144,114

5.50%,

6/15/2054

(e)

350,000

342,544

6.00%,

6/15/2054

(e)

100,000

99,754

Tennessee

Valley

Authority

3.88%,

3/15/2028

700,000

675,339

Series

B,

4.70%,

7/15/2033

157,000

154,416

5.25%,

9/15/2039

210,000

211,028

4.25%,

9/15/2065

200,000

162,523

Total

U.S.

Government

Agencies

(cost

$501,322,656)

471,133,018

U.S.

Treasury

Government

Securities

–

42.4%

U.S.

Treasury

Bonds

6.88%,

8/15/2025

800,000

817,719

6.00%,

2/15/2026

(a)

1,215,000

1,233,462

4.50%,

8/15/2039

1,600,000

1,554,500

1.13%,

5/15/2040

6,195,000

3,645,370

4.38%,

5/15/2040

290,000

276,225

1.13%,

8/15/2040

2,815,000

1,640,177

3.88%,

8/15/2040

1,855,000

1,657,906

1.38%,

11/15/2040

6,635,000

4,019,359

4.25%,

11/15/2040

685,000

639,940

1.88%,

2/15/2041

6,715,000

4,411,965

2.25%,

5/15/2041

6,769,600

4,716,507

4.38%,

5/15/2041

240,000

226,987

1.75%,

8/15/2041

4,044,000

2,566,676

3.75%,

8/15/2041

155,000

134,898

2.00%,

11/15/2041

1,657,000

1,094,397

3.13%,

11/15/2041

345,000

273,628

2.38%,

2/15/2042

5,850,000

4,102,313

3.13%,

2/15/2042

1,215,000

960,230

3.00%,

5/15/2042

1,845,000

1,425,262

3.25%,

5/15/2042

1,305,000

1,048,078

2.75%,

8/15/2042

717,000

530,580

3.38%,

8/15/2042

5,330,000

4,348,114

2.75%,

11/15/2042

508,000

374,491

4.00%,

11/15/2042

5,465,000

4,869,827

3.13%,

2/15/2043

235,000

183,484

3.88%,

2/15/2043

5,100,000

4,456,125

2.88%,

5/15/2043

2,611,800

1,954,361

3.63%,

8/15/2043

59,000

49,477

4.38%,

8/15/2043

2,568,000

2,398,673

3.75%,

11/15/2043

279,600

238,446

4.75%,

11/15/2043

330,000

323,761

3.63%,

2/15/2044

1,150,000

961,687

4.50%,

2/15/2044

3,030,000

2,876,606

3.38%,

5/15/2044

3,345,000

2,688,544

3.13%,

8/15/2044

140,000

107,844

3.00%,

11/15/2044

150,000

112,898

2.50%,

2/15/2045

2,702,300

1,854,031

2.88%,

8/15/2045

251,800

184,050

2.50%,

2/15/2046

6,975,000

4,728,832

2.50%,

5/15/2046

5,855,000

3,957,614

2.25%,

8/15/2046

5,275,000

3,376,824

2.88%,

11/15/2046

145,000

104,808

3.00%,

2/15/2047

10,000

7,380

3.00%,

5/15/2047

957,000

704,890

2.75%,

8/15/2047

1,165,000

816,228

120

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

42.4%

(continued)

U.S.

Treasury

Bonds

(continued)

2.75%,

11/15/2047

925,000

646,922

3.00%,

2/15/2048

1,231,000

902,092

3.00%,

8/15/2048

2,175,000

1,589,109

3.38%,

11/15/2048

302,000

236,409

3.00%,

2/15/2049

525,000

382,840

2.88%,

5/15/2049

1,125,000

799,453

2.25%,

8/15/2049

2,955,000

1,833,947

2.38%,

11/15/2049

7,265,000

4,632,573

2.00%,

2/15/2050

4,583,000

2,666,733

1.25%,

5/15/2050

158,700

74,961

1.38%,

8/15/2050

6,195,000

3,022,966

1.63%,

11/15/2050

4,225,000

2,208,223

1.88%,

2/15/2051

12,083,000

6,747,600

2.38%,

5/15/2051

1,985,000

1,252,411

2.00%,

8/15/2051

4,000,000

2,296,875

1.88%,

11/15/2051

6,745,000

3,741,367

2.25%,

2/15/2052

3,654,900

2,228,918

2.88%,

5/15/2052

1,980,300

1,393,636

3.00%,

8/15/2052

2,208,700

1,594,750

4.00%,

11/15/2052

4,650,000

4,075,289

3.63%,

2/15/2053

6,100,000

4,983,891

3.63%,

5/15/2053

6,115,000

4,998,057

4.13%,

8/15/2053

6,540,000

5,855,344

4.75%,

11/15/2053

600,000

596,813

4.25%,

2/15/2054

1,865,000

1,707,932

U.S.

Treasury

Notes

2.13%,

5/15/2025

4,290,000

4,155,602

2.75%,

5/15/2025

2,950,000

2,875,904

0.25%,

5/31/2025

3,486,000

3,304,074

2.88%,

5/31/2025

2,955,000

2,881,587

4.25%,

5/31/2025

(a)

7,130,000

7,054,522

2.88%,

6/15/2025

5,580,000

5,436,577

0.25%,

6/30/2025

1,825,000

1,723,342

4.63%,

6/30/2025

6,740,000

6,693,926

3.00%,

7/15/2025

1,500,000

1,461,680

0.25%,

7/31/2025

1,800,000

1,692,984

4.75%,

7/31/2025

(a)

2,240,000

2,228,013

2.00%,

8/15/2025

3,180,000

3,054,663

3.13%,

8/15/2025

910,000

886,788

0.25%,

8/31/2025

2,013,800

1,886,758

2.75%,

8/31/2025

920,000

891,214

5.00%,

8/31/2025

905,000

902,631

3.50%,

9/15/2025

3,415,000

3,338,829

0.25%,

9/30/2025

1,535,000

1,432,707

3.00%,

9/30/2025

326,200

316,529

5.00%,

9/30/2025

2,095,000

2,089,681

4.25%,

10/15/2025

1,130,000

1,115,522

0.25%,

10/31/2025

1,610,000

1,496,986

5.00%,

10/31/2025

5,960,000

5,945,798

2.25%,

11/15/2025

2,390,000

2,287,678

4.50%,

11/15/2025

(a)

1,645,000

1,629,000

0.38%,

11/30/2025

2,425,000

2,250,893

2.88%,

11/30/2025

315,100

304,318

4.88%,

11/30/2025

8,721,000

8,684,549

4.00%,

12/15/2025

1,465,000

1,439,019

0.38%,

12/31/2025

1,595,000

1,475,188

2.63%,

12/31/2025

450,000

432,158

4.25%,

12/31/2025

3,696,000

3,644,314

3.88%,

1/15/2026

5,690,000

5,575,311

0.38%,

1/31/2026

8,120,000

7,481,184

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

42.4%

(continued)

U.S.

Treasury

Notes

(continued)

2.63%,

1/31/2026

325,000

311,568

4.25%,

1/31/2026

(a)

4,035,000

3,978,258

1.63%,

2/15/2026

5,600,000

5,269,469

4.00%,

2/15/2026

4,451,500

4,368,904

0.50%,

2/28/2026

4,990,000

4,593,724

2.50%,

2/28/2026

1,536,100

1,467,036

4.63%,

2/28/2026

(a)

4,065,000

4,033,560

4.63%,

3/15/2026

900,000

892,863

0.75%,

3/31/2026

(a)

4,540,000

4,187,263

2.25%,

3/31/2026

580,000

550,683

4.50%,

3/31/2026

(a)

4,250,000

4,207,500

3.75%,

4/15/2026

3,620,000

3,533,177

0.75%,

4/30/2026

5,760,000

5,294,925

2.38%,

4/30/2026

245,000

232,712

4.88%,

4/30/2026

4,525,000

4,511,566

1.63%,

5/15/2026

1,269,500

1,186,387

3.63%,

5/15/2026

5,180,000

5,039,978

0.75%,

5/31/2026

6,579,200

6,027,678

2.13%,

5/31/2026

183,600

173,186

4.13%,

6/15/2026

905,600

889,398

0.88%,

6/30/2026

3,375,100

3,092,435

1.88%,

6/30/2026

321,600

301,199

4.50%,

7/15/2026

725,000

717,297

0.63%,

7/31/2026

6,439,400

5,847,277

1.88%,

7/31/2026

199,000

185,941

1.50%,

8/15/2026

1,580,900

1,462,209

4.38%,

8/15/2026

5,405,000

5,333,637

0.75%,

8/31/2026

2,450,000

2,223,949

1.38%,

8/31/2026

1,030,000

949,048

4.63%,

9/15/2026

710,000

704,453

0.88%,

9/30/2026

2,363,400

2,146,447

1.63%,

9/30/2026

1,525,800

1,411,365

4.63%,

10/15/2026

3,995,200

3,964,924

1.13%,

10/31/2026

(a)

6,320,000

5,756,631

1.63%,

10/31/2026

(a)

1,770,000

1,633,240

2.00%,

11/15/2026

1,120,000

1,042,125

4.63%,

11/15/2026

(a)

3,089,000

3,065,833

1.25%,

11/30/2026

3,260,000

2,971,694

1.63%,

11/30/2026

375,000

345,234

4.38%,

12/15/2026

2,542,000

2,507,842

1.25%,

12/31/2026

2,385,700

2,169,869

1.75%,

12/31/2026

(a)

488,800

450,536

4.00%,

1/15/2027

2,280,000

2,227,809

1.50%,

1/31/2027

4,505,000

4,114,332

2.25%,

2/15/2027

1,085,700

1,011,482

4.13%,

2/15/2027

3,485,000

3,415,300

1.88%,

2/28/2027

980,100

902,611

4.25%,

3/15/2027

(a)

3,605,000

3,544,447

0.63%,

3/31/2027

2,375,700

2,104,722

2.50%,

3/31/2027

1,046,800

979,985

4.50%,

4/15/2027

3,200,000

3,167,750

0.50%,

4/30/2027

1,826,500

1,605,893

2.75%,

4/30/2027

7,200,000

6,777,563

2.38%,

5/15/2027

5,846,100

5,437,786

0.50%,

5/31/2027

1,650,000

1,445,813

2.63%,

5/31/2027

6,700,000

6,273,922

0.50%,

6/30/2027

2,936,700

2,565,712

3.25%,

6/30/2027

5,000,000

4,767,188

0.38%,

7/31/2027

4,429,700

3,838,958

2.75%,

7/31/2027

5,460,000

5,117,897

121

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

42.4%

(continued)

U.S.

Treasury

Notes

(continued)

2.25%,

8/15/2027

1,755,000

1,617,479

0.50%,

8/31/2027

1,850,000

1,605,164

3.13%,

8/31/2027

3,095,000

2,932,754

0.38%,

9/30/2027

2,170,000

1,868,234

4.13%,

9/30/2027

1,572,000

1,537,121

0.50%,

10/31/2027

5,965,000

5,140,618

4.13%,

10/31/2027

3,705,000

3,620,190

2.25%,

11/15/2027

1,125,000

1,031,484

0.63%,

11/30/2027

2,130,000

1,838,623

3.88%,

11/30/2027

1,355,700

1,313,440

0.63%,

12/31/2027

2,795,800

2,405,262

3.88%,

12/31/2027

786,700

761,931

0.75%,

1/31/2028

7,000,000

6,033,125

3.50%,

1/31/2028

2,807,900

2,681,983

2.75%,

2/15/2028

5,780,000

5,369,981

1.13%,

2/29/2028

5,275,000

4,602,438

4.00%,

2/29/2028

2,979,600

2,896,032

1.25%,

3/31/2028

1,374,300

1,201,761

3.63%,

3/31/2028

6,000,000

5,750,625

1.25%,

4/30/2028

2,312,700

2,017,108

3.50%,

4/30/2028

1,892,800

1,804,667

2.88%,

5/15/2028

1,768,100

1,645,162

1.25%,

5/31/2028

5,805,000

5,051,711

3.63%,

5/31/2028

(a)

1,554,800

1,488,721

1.25%,

6/30/2028

4,315,800

3,745,980

4.00%,

6/30/2028

1,804,800

1,752,348

1.00%,

7/31/2028

5,129,300

4,392,364

4.13%,

7/31/2028

(a)

8,005,400

7,807,767

2.88%,

8/15/2028

1,234,000

1,143,860

1.13%,

8/31/2028

1,490,000

1,279,770

4.38%,

8/31/2028

5,350,000

5,268,496

1.25%,

9/30/2028

3,986,600

3,434,394

4.63%,

9/30/2028

1,100,000

1,093,813

1.38%,

10/31/2028

3,115,000

2,692,772

4.88%,

10/31/2028

(a)

3,573,900

3,590,653

3.13%,

11/15/2028

6,025,000

5,626,785

1.50%,

11/30/2028

4,930,000

4,277,160

4.38%,

11/30/2028

6,120,000

6,027,722

1.38%,

12/31/2028

(a)

3,780,200

3,252,153

1.75%,

1/31/2029

3,880,500

3,390,587

4.00%,

1/31/2029

(a)

4,095,000

3,968,311

2.63%,

2/15/2029

2,195,900

1,998,441

1.88%,

2/28/2029

4,174,800

3,663,387

4.25%,

2/28/2029

1,300,000

1,273,695

2.38%,

3/31/2029

900,000

807,469

4.13%,

3/31/2029

5,490,000

5,347,174

2.88%,

4/30/2029

6,247,700

5,734,705

4.63%,

4/30/2029

4,590,000

4,572,429

2.38%,

5/15/2029

4,665,000

4,177,362

2.75%,

5/31/2029

3,115,000

2,838,787

3.25%,

6/30/2029

1,965,400

1,832,736

2.63%,

7/31/2029

2,150,000

1,941,887

1.63%,

8/15/2029

440,000

377,403

3.13%,

8/31/2029

5,770,000

5,338,152

3.88%,

9/30/2029

545,000

522,987

4.00%,

10/31/2029

2,274,800

2,195,360

1.75%,

11/15/2029

4,050,000

3,481,734

3.88%,

11/30/2029

555,000

532,063

3.88%,

12/31/2029

6,980,000

6,687,167

3.50%,

1/31/2030

6,650,000

6,243,207

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

42.4%

(continued)

U.S.

Treasury

Notes

(continued)

1.50%,

2/15/2030

8,047,600

6,748,667

4.00%,

2/28/2030

6,150,000

5,925,141

3.63%,

3/31/2030

5,600,000

5,286,750

3.50%,

4/30/2030

2,380,000

2,229,948

0.63%,

5/15/2030

7,760,000

6,108,575

3.75%,

5/31/2030

595,000

564,692

3.75%,

6/30/2030

300,000

284,555

4.00%,

7/31/2030

842,000

809,504

0.63%,

8/15/2030

8,530,000

6,650,734

4.13%,

8/31/2030

930,300

900,283

4.63%,

9/30/2030

1,548,500

1,540,878

4.88%,

10/31/2030

(a)

1,047,800

1,056,968

0.88%,

11/15/2030

5,365,000

4,224,938

4.38%,

11/30/2030

40,400

39,630

3.75%,

12/31/2030

2,886,000

2,729,074

4.00%,

1/31/2031

3,750,000

3,597,656

1.13%,

2/15/2031

(a)

2,010,000

1,601,091

4.25%,

2/28/2031

2,725,100

2,653,566

4.13%,

3/31/2031

4,170,000

4,026,656

4.63%,

4/30/2031

2,885,000

2,871,927

1.63%,

5/15/2031

4,585,000

3,751,820

1.25%,

8/15/2031

7,405,900

5,848,347

1.38%,

11/15/2031

7,700,000

6,090,219

1.88%,

2/15/2032

7,415,000

6,060,604

2.88%,

5/15/2032

8,440,000

7,415,331

2.75%,

8/15/2032

11,430,000

9,911,953

4.13%,

11/15/2032

4,520,000

4,339,906

3.50%,

2/15/2033

6,293,400

5,756,494

3.38%,

5/15/2033

6,950,000

6,281,063

3.88%,

8/15/2033

7,780,000

7,304,691

4.50%,

11/15/2033

(a)

10,300,000

10,150,328

4.00%,

2/15/2034

(a)

6,570,000

6,221,995

Total

U.S.

Treasury

Government

Securities

(cost

$766,640,670)

733,037,082

Shares

Investment

Companies

–

2.8%

Registered

Investment

Companies

–

2.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$47,837,433)

47,837,433

47,837,433

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(f)(g)

(cost

$4,701,289)

4,701,289

4,701,289

Total

Investments

Before

TBA

Sale

Commitments  (cost

$1,858,893,335)

102.2%

1,768,315,037

TBA

Sale

Commitments

–

(

0.0%

)

Principal

Amount

($)

Federal

National

Mortgage

Association

(h)

2.50%,

5/15/2039

(d)

75,000

(66,486)

3.50%,

5/15/2039

(d)

75,000

(69,688)

2.50%,

6/15/2039

(d)

50,000

(44,377)

Total

TBA

Sale

Commitments

(proceeds

$(183,963))

(180,551)

Total

Investments

(cost

net

of

proceeds

$1,858,709,372)

102.2%

1,768,134,486

Liabilities,

Less

Cash

and

Receivables

(2.2)%

(38,263,112)

Net

Assets

100.0%

1,729,871,374

122

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

GO—General

Obligation

RB—Revenue

Bond

REIT—Real

Estate

Investment

Trust

REMICs—Real

Estate

Mortgage

Investment

Conduits

(a)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$80,602,536

and

the

value

of

the

collateral

was

$83,366,777,

consisting

of

cash

collateral

of

$4,701,289

and

U.S.

Government

&

Agency

securities

valued

at

$78,665,488.

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

April

30,

2024,

these

securities

were

valued

at

$3,441,910

or

0.20%

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.

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

(h)

Sales

on

a

forward

commitment

basis.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Government

45.9

Financial

36.9

Consumer,

Non-cyclical

4.4

Registered

Investment

Companies

3.0

Utilities

2.4

Communications

2.1

Technology

1.8

Industrial

1.8

Energy

1.7

Consumer,

Cyclical

1.6

Basic

Materials

0.6

102.2

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

2.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

13,640,121

132,774,668

(98,577,356)

47,837,433

925,167

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

2,568,411

37,064,030

(34,931,152)

4,701,289

44,442

2

Total

–

3.0%

16,208,532

169,838,698

(133,508,508)

52,538,722

969,609

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.

123

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

BNY

Mellon

High

Yield

Beta

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

Basic

Materials

–

4.3%

Ahlstrom

Holding

3

Oy

,

4.88%

,

2/04/2028

(a)

16,000

14,738

Alcoa

Nederland

Holding

BV

,

7.13%

,

3/15/2031

(a)

280,000

283,366

Algoma

Steel,

Inc.

,

9.13%

,

4/15/2029

(a)

200,000

198,443

Allegheny

Ludlum

LLC

,

6.95%

,

12/15/2025

30,000

30,390

AngloGold

Ashanti

Holdings

PLC

,

6.50%

,

4/15/2040

25,000

24,518

Arsenal

AIC

Parent

LLC

8.00%,

10/01/2030

(a)

104,000

108,498

11.50%,

10/01/2031

(a)

120,000

133,576

Ashland,

Inc.

3.38%,

9/01/2031

(a)

115,000

95,535

6.88%,

5/15/2043

80,000

80,689

ASP

Unifrax

Holdings,

Inc.

5.25%,

9/30/2028

(a)

160,000

101,552

7.50%,

9/30/2029

(a)

87,000

44,523

ATI,

Inc.

5.88%,

12/01/2027

13,000

12,760

4.88%,

10/01/2029

137,000

127,550

7.25%,

8/15/2030

95,000

97,297

5.13%,

10/01/2031

5,000

4,572

Avient

Corp.

,

7.13%

,

8/01/2030

(a)

278,000

281,556

Axalta

Coating

Systems

Dutch

Holding

B

BV

,

7.25%

,

2/15/2031

(a)

10,000

10,239

Axalta

Coating

Systems

LLC

,

3.38%

,

2/15/2029

(a)

40,000

35,197

Axalta

Coating

Systems

LLC

/

Axalta

Coating

Systems

Dutch

Holding

B

BV

,

4.75%

,

6/15/2027

(a)

120,000

115,038

Baffinland

Iron

Mines

Corp.

/

Baffinland

Iron

Mines

LP

,

8.75%

,

7/15/2026

(a)

300,000

276,168

Big

River

Steel

LLC

/

BRS

Finance

Corp.

,

6.63%

,

1/31/2029

(a)

3,000

2,994

Carpenter

Technology

Corp.

6.38%,

7/15/2028

5,000

4,966

7.63%,

3/15/2030

85,000

86,761

Century

Aluminum

Co.

,

7.50%

,

4/01/2028

(a)

34,000

34,058

Cerdia

Finanz

GmbH

,

10.50%

,

2/15/2027

(a)

80,000

82,926

Chemours

Co.

(The)

5.38%,

5/15/2027

150,000

141,863

5.75%,

11/15/2028

(a)

580,000

532,680

4.63%,

11/15/2029

(a)

53,000

45,440

Cleveland-Cliffs,

Inc.

5.88%,

6/01/2027

(b)

2,000

1,977

4.63%,

3/01/2029

(a)

1,000

926

6.75%,

4/15/2030

(a)

6,000

5,855

4.88%,

3/01/2031

(a)(b)

11,000

9,657

7.00%,

3/15/2032

(a)

184,000

179,687

6.25%,

10/01/2040

96,000

81,118

Coeur

Mining,

Inc.

,

5.13%

,

2/15/2029

(a)

19,000

17,816

Commercial

Metals

Co.

4.13%,

1/15/2030

30,000

26,870

3.88%,

2/15/2031

9,000

7,820

4.38%,

3/15/2032

20,000

17,568

Compass

Minerals

International,

Inc.

,

6.75%

,

12/01/2027

(a)

53,000

49,790

Consolidated

Energy

Finance

SA

6.50%,

5/15/2026

(a)

315,000

297,897

5.63%,

10/15/2028

(a)

206,000

174,201

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Basic

Materials

–

4.3%

(continued)

Consolidated

Energy

Finance

SA

(continued)

12.00%,

2/15/2031

(a)

210,000

217,323

Constellium

SE

5.63%,

6/15/2028

(a)

85,000

82,033

3.75%,

4/15/2029

(a)

5,000

4,436

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp.

,

6.13%

,

6/15/2028

(a)(b)

95,000

88,515

Domtar

Corp.

,

6.75%

,

10/01/2028

(a)

115,000

100,403

Element

Solutions,

Inc.

,

3.88%

,

9/01/2028

(a)

5,000

4,506

FMG

Resources

(August

2006)

Pty

Ltd.

4.50%,

9/15/2027

(a)

252,000

237,609

5.88%,

4/15/2030

(a)

5,000

4,805

4.38%,

4/01/2031

(a)

316,000

278,081

6.13%,

4/15/2032

(a)

154,000

149,128

Glatfelter

Corp.

,

4.75%

,

11/15/2029

(a)

208,000

175,021

GPD

Cos.,

Inc.

,

10.13%

,

4/01/2026

(a)

250,000

235,335

HB

Fuller

Co.

4.00%,

2/15/2027

65,000

61,934

4.25%,

10/15/2028

15,000

13,851

Hecla

Mining

Co.

,

7.25%

,

2/15/2028

95,000

94,985

Herens

Holdco

Sarl

,

4.75%

,

5/15/2028

(a)

45,000

39,143

Hudbay

Minerals,

Inc.

4.50%,

4/01/2026

30,000

29,046

6.13%,

4/01/2029

20,000

19,616

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV,

Inc.

,

9.00%

,

7/01/2028

(a)

15,000

14,668

INEOS

Finance

PLC

,

6.75%

,

5/15/2028

(a)(b)

5,000

4,915

INEOS

Quattro

Finance

2

PLC

,

9.63%

,

3/15/2029

(a)(b)

240,000

253,459

Infrabuild

Australia

Pty

Ltd.

,

14.50%

,

11/15/2028

(a)

1,000

1,031

Ingevity

Corp.

,

3.88%

,

11/01/2028

(a)

2,000

1,782

Innophos

Holdings,

Inc.

,

9.38%

,

2/15/2028

(a)

2,000

1,728

Iris

Holdings,

Inc.

,

8.75%

,

2/15/2026

(a)(c)

65,000

54,982

JW

Aluminum

Continuous

Cast

Co.

,

10.25%

,

6/01/2026

(a)

17,000

17,147

Kaiser

Aluminum

Corp.

4.63%,

3/01/2028

(a)

11,000

10,250

4.50%,

6/01/2031

(a)

7,000

6,132

Kobe

US

Midco

2,

Inc.

,

9.25%

,

11/01/2026

(a)(c)

65,750

54,688

LSF11

A5

HoldCo

LLC

,

6.63%

,

10/15/2029

(a)

76,000

70,789

Mativ

Holdings,

Inc.

,

6.88%

,

10/01/2026

(a)

72,000

70,967

Mercer

International,

Inc.

5.50%,

1/15/2026

20,000

19,390

12.88%,

10/01/2028

(a)

195,000

212,625

5.13%,

2/01/2029

8,000

6,991

Methanex

Corp.

5.13%,

10/15/2027

134,000

128,830

5.25%,

12/15/2029

15,000

14,230

Mineral

Resources

Ltd.

8.13%,

5/01/2027

(a)

119,000

120,036

8.00%,

11/01/2027

(a)

11,000

11,131

9.25%,

10/01/2028

(a)

230,000

241,338

8.50%,

5/01/2030

(a)

489,000

501,163

Minerals

Technologies,

Inc.

,

5.00%

,

7/01/2028

(a)

85,000

80,975

New

Gold,

Inc.

,

7.50%

,

7/15/2027

(a)

33,000

32,784

Novelis

Corp.

3.25%,

11/15/2026

(a)

2,000

1,870

124

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Basic

Materials

–

4.3%

(continued)

Novelis

Corp.

(continued)

4.75%,

1/30/2030

(a)

49,000

44,645

3.88%,

8/15/2031

(a)

415,000

351,571

Olin

Corp.

5.13%,

9/15/2027

196,000

189,294

5.63%,

8/01/2029

144,000

138,817

5.00%,

2/01/2030

(b)

191,000

178,254

Olympus

Water

US

Holding

Corp.

4.25%,

10/01/2028

(a)

570,000

513,554

9.75%,

11/15/2028

(a)

383,000

406,748

6.25%,

10/01/2029

(a)

156,000

140,214

Perenti

Finance

Pty

Ltd.

6.50%,

10/07/2025

(a)

60,000

60,142

7.50%,

4/26/2029

(a)

283,000

287,268

Polar

US

Borrower

LLC

/

Schenectady

International

Group,

Inc.

,

6.75%

,

5/15/2026

(a)

25,000

6,837

Rain

Carbon,

Inc.

,

12.25%

,

9/01/2029

(a)(b)

4,000

4,160

Rayonier

AM

Products,

Inc.

,

7.63%

,

1/15/2026

(a)

200,000

177,648

SCIH

Salt

Holdings,

Inc.

4.88%,

5/01/2028

(a)

139,000

129,236

6.63%,

5/01/2029

(a)

119,000

109,730

SCIL

IV

LLC

/

SCIL

USA

Holdings

LLC

,

5.38%

,

11/01/2026

(a)

295,000

283,344

SK

Invictus

Intermediate

II

Sarl

,

5.00%

,

10/30/2029

(a)

10,000

8,717

SNF

Group

SACA

3.13%,

3/15/2027

(a)

131,000

120,626

3.38%,

3/15/2030

(a)

11,000

9,462

Tacora

Resources,

Inc.

,

8.25%

,

5/15/2026

(a)(d)

64,000

31,497

TMS

International

Corp.

,

6.25%

,

4/15/2029

(a)

1,000

922

TPC

Group,

Inc.

,

13.00%

,

12/16/2027

(a)

8,572

8,720

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance,

Inc.

,

5.13%

,

4/01/2029

(a)

40,000

10,140

Tronox,

Inc.

,

4.63%

,

3/15/2029

(a)

170,000

151,834

United

States

Steel

Corp.

,

6.88%

,

3/01/2029

98,000

98,131

Vibrantz

Technologies,

Inc.

,

9.00%

,

2/15/2030

(a)

160,000

147,960

WR

Grace

Holdings

LLC

4.88%,

6/15/2027

(a)

217,000

206,088

5.63%,

8/15/2029

(a)

259,000

232,259

7.38%,

3/01/2031

(a)

5,000

5,069

11,701,633

Communications

–

15.3%

Acuris

Finance

US,

Inc.

/

Acuris

Finance

Sarl

,

5.00%

,

5/01/2028

(a)

35,000

31,783

Advantage

Sales

&

Marketing,

Inc.

,

6.50%

,

11/15/2028

(a)

135,000

125,589

Altice

Financing

SA

5.00%,

1/15/2028

(a)

185,000

147,244

5.75%,

8/15/2029

(a)

520,000

393,732

Altice

France

Holding

SA

10.50%,

5/15/2027

(a)

333,000

118,857

6.00%,

2/15/2028

(a)

250,000

73,420

Altice

France

SA

8.13%,

2/01/2027

(a)

400,000

301,023

5.50%,

1/15/2028

(a)

349,000

235,388

5.13%,

1/15/2029

(a)

89,000

58,101

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Communications

–

15.3%

(continued)

Altice

France

SA

(continued)

5.13%,

7/15/2029

(a)

374,000

244,378

5.50%,

10/15/2029

(a)

400,000

261,910

AMC

Networks,

Inc.

10.25%,

1/15/2029

(a)

61,000

61,001

4.25%,

2/15/2029

(b)

125,000

84,556

Angi

Group

LLC

,

3.88%

,

8/15/2028

(a)

7,000

5,938

Arches

Buyer,

Inc.

4.25%,

6/01/2028

(a)

637,000

546,404

6.13%,

12/01/2028

(a)

186,000

152,870

Belo

Corp.

7.75%,

6/01/2027

10,000

10,198

7.25%,

9/15/2027

(b)

75,000

75,744

Block

Communications,

Inc.

,

4.88%

,

3/01/2028

(a)

40,000

34,624

British

Telecommunications

PLC

4.25%,

11/23/2081

(a)(b)

184,000

173,335

4.88%,

11/23/2081

(a)

40,000

35,753

Cable

One,

Inc.

,

4.00%

,

11/15/2030

(a)(b)

98,000

74,945

Cablevision

Lightpath

LLC

3.88%,

9/15/2027

(a)

14,000

12,340

5.63%,

9/15/2028

(a)

185,000

149,398

Cars.com,

Inc.

,

6.38%

,

11/01/2028

(a)

120,000

114,710

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

5.13%,

5/01/2027

(a)

670,000

628,334

5.00%,

2/01/2028

(a)

505,000

460,061

5.38%,

6/01/2029

(a)

525,000

462,111

6.38%,

9/01/2029

(a)

441,000

403,884

4.75%,

3/01/2030

(a)

654,000

543,879

4.50%,

8/15/2030

(a)

640,000

520,174

4.25%,

2/01/2031

(a)

940,000

737,885

7.38%,

3/01/2031

(a)(b)

260,000

246,761

4.75%,

2/01/2032

(a)

460,000

361,229

4.50%,

5/01/2032

9,000

6,895

4.50%,

6/01/2033

(a)

377,000

283,538

4.25%,

1/15/2034

(a)

556,000

403,024

Ciena

Corp.

,

4.00%

,

1/31/2030

(a)

5,000

4,386

Clear

Channel

Outdoor

Holdings,

Inc.

5.13%,

8/15/2027

(a)(b)

180,000

166,950

7.75%,

4/15/2028

(a)

119,000

100,861

9.00%,

9/15/2028

(a)

12,000

12,345

7.50%,

6/01/2029

(a)

107,000

86,170

7.88%,

4/01/2030

(a)

159,000

155,708

CMG

Media

Corp.

,

8.88%

,

12/15/2027

(a)

317,000

176,178

Cogent

Communications

Group,

Inc.

3.50%,

5/01/2026

(a)

155,000

145,827

7.00%,

6/15/2027

(a)

125,000

123,404

CommScope

Technologies

LLC

6.00%,

6/15/2025

(a)

289,000

228,265

5.00%,

3/15/2027

(a)

26,000

9,024

CommScope,

Inc.

6.00%,

3/01/2026

(a)

388,000

346,901

8.25%,

3/01/2027

(a)

215,000

82,321

7.13%,

7/01/2028

(a)

110,000

36,850

4.75%,

9/01/2029

(a)

350,000

244,311

125

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Communications

–

15.3%

(continued)

Connect

Finco

Sarl

/

Connect

US

Finco

LLC

,

6.75%

,

10/01/2026

(a)

609,000

589,938

Consolidated

Communications,

Inc.

,

5.00%

,

10/01/2028

(a)

370,000

307,082

CSC

Holdings

LLC

5.50%,

4/15/2027

(a)

200,000

163,946

5.38%,

2/01/2028

(a)

147,000

113,125

7.50%,

4/01/2028

(a)

235,000

127,231

11.25%,

5/15/2028

(a)

204,000

180,496

11.75%,

1/31/2029

(a)

425,000

379,498

6.50%,

2/01/2029

(a)

392,000

293,431

5.75%,

1/15/2030

(a)

499,000

218,350

4.13%,

12/01/2030

(a)

156,000

99,504

4.63%,

12/01/2030

(a)

467,000

202,319

3.38%,

2/15/2031

(a)

260,000

160,900

4.50%,

11/15/2031

(a)

108,000

68,553

5.00%,

11/15/2031

(a)

110,000

46,811

Cumulus

Media

New

Holdings,

Inc.

,

6.75%

,

7/01/2026

(a)

36,000

21,039

DIRECTV

Financing

LLC

,

8.88%

,

2/01/2030

(a)

193,000

187,599

DIRECTV

Financing

LLC

/

DIRECTV

Financing

Co.-Obligor,

Inc.

,

5.88%

,

8/15/2027

(a)

1,470,000

1,369,312

DISH

DBS

Corp.

5.25%,

12/01/2026

(a)

758,000

596,780

5.75%,

12/01/2028

(a)

626,000

424,273

DISH

Network

Corp.

,

11.75%

,

11/15/2027

(a)

905,000

912,724

Embarq

Corp.

,

8.00%

,

6/01/2036

318,000

130,009

Frontier

Communications

Holdings

LLC

5.88%,

10/15/2027

(a)

11,000

10,558

5.00%,

5/01/2028

(a)

149,000

137,053

6.75%,

5/01/2029

(a)

245,000

215,840

5.88%,

11/01/2029

249,000

207,779

6.00%,

1/15/2030

(a)

249,000

207,976

8.75%,

5/15/2030

(a)

368,000

374,762

8.63%,

3/15/2031

(a)

310,000

313,088

Frontier

Florida

LLC

,

Series

E

,

6.86%

,

2/01/2028

80,000

76,094

Frontier

North,

Inc.

,

Series

G

,

6.73%

,

2/15/2028

21,000

19,863

Gannett

Holdings

LLC

,

6.00%

,

11/01/2026

(a)

181,000

167,528

GCI

LLC

,

4.75%

,

10/15/2028

(a)

48,000

42,813

Gen

Digital,

Inc.

5.00%,

4/15/2025

(a)

50,000

49,416

6.75%,

9/30/2027

(a)

221,000

221,830

7.13%,

9/30/2030

(a)(b)

167,000

168,892

Getty

Images,

Inc.

,

9.75%

,

3/01/2027

(a)

12,000

12,011

Go

Daddy

Operating

Co.

LLC

/

GD

Finance

Co.,

Inc.

5.25%,

12/01/2027

(a)

164,000

158,396

3.50%,

3/01/2029

(a)

138,000

122,486

Gray

Television,

Inc.

7.00%,

5/15/2027

(a)(b)

452,000

411,699

4.75%,

10/15/2030

(a)

24,000

14,441

5.38%,

11/15/2031

(a)

300,000

179,785

GrubHub

Holdings,

Inc.

,

5.50%

,

7/01/2027

(a)

111,000

99,179

Hughes

Satellite

Systems

Corp.

5.25%,

8/01/2026

235,000

195,139

6.63%,

8/01/2026

147,000

84,544

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Communications

–

15.3%

(continued)

iHeartCommunications,

Inc.

6.38%,

5/01/2026

105,000

88,720

8.38%,

5/01/2027

212,000

112,514

5.25%,

8/15/2027

(a)(b)

179,000

131,137

4.75%,

1/15/2028

(a)

104,000

74,234

Iliad

Holding

SASU

6.50%,

10/15/2026

(a)

367,000

365,163

7.00%,

10/15/2028

(a)

65,000

63,571

8.50%,

4/15/2031

(a)

200,000

201,507

Intelsat

Jackson

Holdings

SA

,

6.50%

,

3/15/2030

(a)

863,000

826,291

ION

Trading

Technologies

Sarl

,

5.75%

,

5/15/2028

(a)

5,000

4,567

Lamar

Media

Corp.

3.75%,

2/15/2028

227,000

209,615

4.88%,

1/15/2029

73,000

68,860

4.00%,

2/15/2030

198,000

176,627

3.63%,

1/15/2031

154,000

131,633

LCPR

Senior

Secured

Financing

DAC

6.75%,

10/15/2027

(a)

306,000

283,130

5.13%,

7/15/2029

(a)

212,000

176,891

Level

3

Financing,

Inc.

3.40%,

3/01/2027

(a)

141,000

84,600

4.63%,

9/15/2027

(a)

210,000

120,899

4.25%,

7/01/2028

(a)

261,000

100,563

3.63%,

1/15/2029

(a)

149,000

50,668

3.75%,

7/15/2029

(a)

90,000

30,712

3.88%,

11/15/2029

(a)

93,000

34,177

10.50%,

5/15/2030

(a)

2,000

1,998

Liberty

Interactive

LLC

8.50%,

7/15/2029

60,000

33,407

8.25%,

2/01/2030

105,000

58,273

Lumen

Technologies,

Inc.

4.00%,

2/15/2027

(a)

190,000

100,667

4.50%,

1/15/2029

(a)

269,000

78,292

Series

P,

7.60%,

9/15/2039

130,000

39,281

Series

U,

7.65%,

3/15/2042

70,000

21,290

Match

Group

Holdings

II

LLC

5.00%,

12/15/2027

(a)

80,000

75,978

4.63%,

6/01/2028

(a)

160,000

148,066

5.63%,

2/15/2029

(a)

13,000

12,407

4.13%,

8/01/2030

(a)

155,000

134,213

3.63%,

10/01/2031

(a)

9,000

7,431

McGraw-Hill

Education,

Inc.

5.75%,

8/01/2028

(a)

94,000

87,198

8.00%,

8/01/2029

(a)

141,000

129,773

Midcontinent

Communications

/

Midcontinent

Finance

Corp.

,

5.38%

,

8/15/2027

(a)

28,000

26,757

Millennium

Escrow

Corp.

,

6.63%

,

8/01/2026

(a)

263,000

151,243

Newfold

Digital

Holdings

Group,

Inc.

11.75%,

10/15/2028

(a)

145,000

155,444

6.00%,

2/15/2029

(a)

211,000

158,230

News

Corp.

3.88%,

5/15/2029

(a)

75,000

67,358

5.13%,

2/15/2032

(a)

100,000

91,677

Nexstar

Media,

Inc.

5.63%,

7/15/2027

(a)

921,000

865,960

126

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Communications

–

15.3%

(continued)

Nexstar

Media,

Inc.

(continued)

4.75%,

11/01/2028

(a)

73,000

64,833

Northwest

Fiber

LLC

/

Northwest

Fiber

Finance

Sub,

Inc.

,

10.75%

,

6/01/2028

(a)

10,000

10,292

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

5.00%,

8/15/2027

(a)

87,000

82,911

4.25%,

1/15/2029

(a)(b)

70,000

62,304

4.63%,

3/15/2030

(a)(b)

23,000

20,319

7.38%,

2/15/2031

(a)

90,000

92,381

Paramount

Global

6.25%,

2/28/2057

100,000

87,645

6.38%,

3/30/2062

162,000

149,852

Qwest

Corp.

,

7.25%

,

9/15/2025

13,000

12,870

Radiate

Holdco

LLC

/

Radiate

Finance,

Inc.

4.50%,

9/15/2026

(a)

290,000

221,516

6.50%,

9/15/2028

(a)

205,000

85,720

Rakuten

Group,

Inc.

5.13%

(a)(e)

119,000

98,778

6.25%

(a)(e)

74,000

53,280

11.25%,

2/15/2027

(a)

475,000

494,113

9.75%,

4/15/2029

(a)

360,000

356,588

Rogers

Communications,

Inc.

,

5.25%

,

3/15/2082

(a)

310,000

294,108

Scripps

Escrow

II,

Inc.

3.88%,

1/15/2029

(a)

10,000

7,389

5.38%,

1/15/2031

(a)

15,000

8,853

Scripps

Escrow,

Inc.

,

5.88%

,

7/15/2027

(a)

55,000

43,425

Sinclair

Television

Group,

Inc.

5.13%,

2/15/2027

(a)

5,000

4,496

5.50%,

3/01/2030

(a)

190,000

131,627

4.13%,

12/01/2030

(a)

4,000

2,750

Sirius

XM

Radio,

Inc.

3.13%,

9/01/2026

(a)

188,000

175,348

5.00%,

8/01/2027

(a)

71,000

67,058

4.00%,

7/15/2028

(a)

362,000

322,505

5.50%,

7/01/2029

(a)

208,000

193,798

4.13%,

7/01/2030

(a)

631,000

536,350

3.88%,

9/01/2031

(a)(b)

265,000

213,033

Spanish

Broadcasting

System,

Inc.

,

9.75%

,

3/01/2026

(a)

25,000

11,779

Stagwell

Global

LLC

,

5.63%

,

8/15/2029

(a)(b)

668,000

598,409

Summer

BC

Bidco

B

LLC

,

5.50%

,

10/31/2026

(a)

65,000

62,098

Sunrise

Finco

I

BV

,

4.88%

,

7/15/2031

(a)

253,000

221,264

TEGNA,

Inc.

4.63%,

3/15/2028

290,000

262,715

5.00%,

9/15/2029

576,000

507,849

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

190,000

167,584

6.00%,

9/30/2034

135,000

113,733

7.20%,

7/18/2036

458,000

418,059

7.72%,

6/04/2038

75,000

69,868

Telenet

Finance

Luxembourg

Notes

Sarl

,

5.50%

,

3/01/2028

(a)

600,000

568,193

Telesat

Canada

/

Telesat

LLC

5.63%,

12/06/2026

(a)

66,000

32,061

4.88%,

6/01/2027

(a)

50,000

22,704

6.50%,

10/15/2027

(a)

40,000

11,682

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Communications

–

15.3%

(continued)

Townsquare

Media,

Inc.

,

6.88%

,

2/01/2026

(a)

74,000

71,825

TripAdvisor,

Inc.

,

7.00%

,

7/15/2025

(a)

65,000

65,021

Uber

Technologies,

Inc.

8.00%,

11/01/2026

(a)

277,000

279,774

7.50%,

9/15/2027

(a)

728,000

741,218

6.25%,

1/15/2028

(a)

501,000

500,115

4.50%,

8/15/2029

(a)

340,000

317,716

Univision

Communications,

Inc.

6.63%,

6/01/2027

(a)

475,000

458,725

8.00%,

8/15/2028

(a)

298,000

298,210

4.50%,

5/01/2029

(a)(b)

186,000

161,439

7.38%,

6/30/2030

(a)(b)

155,000

148,561

Urban

One,

Inc.

,

7.38%

,

2/01/2028

(a)

179,000

145,224

ViaSat,

Inc.

5.63%,

9/15/2025

(a)

100,000

96,115

5.63%,

4/15/2027

(a)

336,000

307,898

6.50%,

7/15/2028

(a)(b)

20,000

15,276

7.50%,

5/30/2031

(a)(b)

200,000

141,144

Viavi

Solutions,

Inc.

,

3.75%

,

10/01/2029

(a)

20,000

16,913

Videotron

Ltd.

5.13%,

4/15/2027

(a)

15,000

14,528

3.63%,

6/15/2029

(a)

5,000

4,445

Virgin

Media

Finance

PLC

,

5.00%

,

7/15/2030

(a)(b)

142,000

116,256

Virgin

Media

Secured

Finance

PLC

5.50%,

5/15/2029

(a)

700,000

636,836

4.50%,

8/15/2030

(a)

307,000

259,441

Virgin

Media

Vendor

Financing

Notes

IV

DAC

,

5.00%

,

7/15/2028

(a)

139,000

123,865

VMED

O2

UK

Financing

I

PLC

4.25%,

1/31/2031

(a)

6,000

4,919

4.75%,

7/15/2031

(a)

186,000

155,380

7.75%,

4/15/2032

(a)

415,000

408,797

Vodafone

Group

PLC

7.00%,

4/04/2079

683,000

695,334

4.13%,

6/04/2081

305,000

255,114

5.13%,

6/04/2081

55,000

40,438

VZ

Secured

Financing

BV

,

5.00%

,

1/15/2032

(a)

610,000

514,817

Warner

Media

LLC

,

7.63%

,

4/15/2031

10,000

10,435

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp.

,

7.75%

,

8/15/2028

(a)

300,000

289,156

Zayo

Group

Holdings,

Inc.

4.00%,

3/01/2027

(a)(b)

465,000

370,418

6.13%,

3/01/2028

(a)

235,000

156,455

Ziff

Davis,

Inc.

,

4.63%

,

10/15/2030

(a)

97,000

84,376

Ziggo

Bond

Co.

BV

,

5.13%

,

2/28/2030

(a)

65,000

53,992

Ziggo

BV

,

4.88%

,

1/15/2030

(a)

5,000

4,381

41,292,328

Consumer,

Cyclical

–

21.6%

1011778

BC

ULC

/

New

Red

Finance,

Inc.

3.88%,

1/15/2028

(a)

597,000

551,137

4.38%,

1/15/2028

(a)

148,000

137,902

3.50%,

2/15/2029

(a)(b)

152,000

135,792

4.00%,

10/15/2030

(a)

864,000

744,400

127

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

99

Cents

Only

Stores

LLC

,

7.50%

,

1/15/2026

(a)

(d)

30,000

9,070

Academy

Ltd.

,

6.00%

,

11/15/2027

(a)

49,000

47,877

Acushnet

Co.

,

7.38%

,

10/15/2028

(a)

472,000

484,526

Adams

Homes,

Inc.

,

9.25%

,

10/15/2028

(a)

270,000

278,828

Adient

Global

Holdings

Ltd.

4.88%,

8/15/2026

(a)

175,000

168,370

7.00%,

4/15/2028

(a)

23,000

23,301

8.25%,

4/15/2031

(a)(b)

335,000

347,828

Advance

Auto

Parts,

Inc.

1.75%,

10/01/2027

215,000

184,507

5.95%,

3/09/2028

(b)

155,000

153,163

3.50%,

3/15/2032

(b)

10,000

8,360

Affinity

Interactive

,

6.88%

,

12/15/2027

(a)

334,000

299,409

Air

Canada

,

3.88%

,

8/15/2026

(a)

250,000

237,262

Air

Canada

Pass-Through

Trust

,

Series

2020-1

,

Class

C

,

10.50%

,

7/15/2026

(a)

20,000

21,763

Allegiant

Travel

Co.

,

7.25%

,

8/15/2027

(a)

2,000

1,935

Allen

Media

LLC

/

Allen

Media

Co.-Issuer,

Inc.

,

10.50%

,

2/15/2028

(a)

105,000

49,643

Allison

Transmission,

Inc.

4.75%,

10/01/2027

(a)

115,000

110,041

5.88%,

6/01/2029

(a)

235,000

229,637

3.75%,

1/30/2031

(a)

300,000

256,556

AMC

Entertainment

Holdings,

Inc.

10.00%,

6/15/2026

(a)(c)

310,000

225,582

7.50%,

2/15/2029

(a)

264,000

181,473

American

Airlines

Pass-Through

Trust

,

Series

2013-1

,

Class

A

,

4.00%

,

7/15/2025

221,063

212,959

American

Airlines,

Inc.

7.25%,

2/15/2028

(a)

4,000

4,016

8.50%,

5/15/2029

(a)

238,000

247,891

American

Airlines,

Inc.

/Aadvantage

Loyalty

IP

Ltd.

5.50%,

4/20/2026

(a)

561,231

554,950

5.75%,

4/20/2029

(a)

550,000

531,183

American

Axle

&

Manufacturing,

Inc.

6.50%,

4/01/2027

(b)

115,000

113,530

6.88%,

7/01/2028

(b)

10,000

9,939

5.00%,

10/01/2029

(b)

136,000

122,498

American

Builders

&

Contractors

Supply

Co.,

Inc.

4.00%,

1/15/2028

(a)

269,000

247,612

3.88%,

11/15/2029

(a)

242,000

212,119

Aramark

Services,

Inc.

5.00%,

4/01/2025

(a)

10,000

9,901

5.00%,

2/01/2028

(a)

196,000

186,292

Arko

Corp.

,

5.13%

,

11/15/2029

(a)

40,000

32,214

Asbury

Automotive

Group,

Inc.

4.50%,

3/01/2028

81,000

75,993

4.63%,

11/15/2029

(a)

16,000

14,496

4.75%,

3/01/2030

144,000

130,352

5.00%,

2/15/2032

(a)

265,000

235,534

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

6.63%,

1/15/2028

(a)

110,000

109,737

4.63%,

8/01/2029

(a)

6,000

5,429

4.63%,

4/01/2030

(a)

41,000

36,614

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Aston

Martin

Capital

Holdings

Ltd.

,

10.00%

,

3/31/2029

(a)

165,000

161,295

At

Home

Group,

Inc.

7.13%,

5/12/2028

(a)(c)

100,000

42,958

4.88%,

7/15/2028

(a)

42,000

19,880

Banijay

Entertainment

SASU

,

8.13%

,

5/01/2029

(a)

105,000

107,471

Bath

&

Body

Works,

Inc.

9.38%,

7/01/2025

(a)

144,000

149,258

6.69%,

1/15/2027

68,000

68,477

5.25%,

2/01/2028

53,000

50,988

6.63%,

10/01/2030

(a)

231,000

230,945

6.95%,

3/01/2033

331,000

321,617

6.88%,

11/01/2035

13,000

12,912

6.75%,

7/01/2036

10,000

9,753

7.60%,

7/15/2037

410,000

395,035

BCPE

Empire

Holdings,

Inc.

,

7.63%

,

5/01/2027

(a)

121,000

117,975

BCPE

Ulysses

Intermediate,

Inc.

,

7.75%

,

4/01/2027

(a)(c)

85,000

82,652

Beacon

Roofing

Supply,

Inc.

4.50%,

11/15/2026

(a)

3,000

2,879

4.13%,

5/15/2029

(a)

20,000

17,879

6.50%,

8/01/2030

(a)

377,000

376,416

Beazer

Homes

USA,

Inc.

5.88%,

10/15/2027

80,000

77,620

7.25%,

10/15/2029

75,000

74,142

7.50%,

3/15/2031

(a)

5,000

4,948

BlueLinx

Holdings,

Inc.

,

6.00%

,

11/15/2029

(a)

300,000

285,461

Boyd

Gaming

Corp.

4.75%,

12/01/2027

57,000

54,084

4.75%,

6/15/2031

(a)

271,000

240,301

Boyne

USA,

Inc.

,

4.75%

,

5/15/2029

(a)

14,000

12,745

Brinker

International,

Inc.

,

8.25%

,

7/15/2030

(a)

95,000

99,099

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential

US

LLC

6.25%,

9/15/2027

(a)

18,000

17,289

4.88%,

2/15/2030

(a)

461,000

399,018

Caesars

Entertainment,

Inc.

8.13%,

7/01/2027

(a)

25,000

25,365

4.63%,

10/15/2029

(a)(b)

183,000

163,162

7.00%,

2/15/2030

(a)

318,000

320,284

6.50%,

2/15/2032

(a)

39,000

38,418

Carnival

Corp.

5.75%,

3/01/2027

(a)

789,000

769,263

6.65%,

1/15/2028

40,000

39,570

4.00%,

8/01/2028

(a)

319,000

291,171

6.00%,

5/01/2029

(a)

540,000

523,000

7.00%,

8/15/2029

(a)

57,000

58,492

10.50%,

6/01/2030

(a)

246,000

267,358

Carnival

Holdings

Bermuda

Ltd.

,

10.38%

,

5/01/2028

(a)

462,000

500,859

Carnival

PLC

,

7.88%

,

6/01/2027

51,000

53,607

Carvana

Co.

12.00%,

12/01/2028

(a)(c)

179,293

175,294

13.00%,

6/01/2030

(a)(c)

305,101

302,790

14.00%,

6/01/2031

(a)(c)

319,133

319,965

128

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

CCM

Merger,

Inc.

,

6.38%

,

5/01/2026

(a)

10,000

9,963

CD&R

Smokey

Buyer,

Inc.

,

6.75%

,

7/15/2025

(a)

1,000

995

CEC

Entertainment

LLC

,

6.75%

,

5/01/2026

(a)

10,000

9,848

Cedar

Fair

LP

,

5.25%

,

7/15/2029

50,000

46,666

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.

/

Millennium

Operations

LLC

5.50%,

5/01/2025

(a)

153,000

153,000

5.38%,

4/15/2027

10,000

9,718

6.50%,

10/01/2028

36,000

35,929

Century

Communities,

Inc.

6.75%,

6/01/2027

149,000

149,327

3.88%,

8/15/2029

(a)

102,000

89,282

Churchill

Downs,

Inc.

5.50%,

4/01/2027

(a)

141,000

137,188

4.75%,

1/15/2028

(a)

220,000

207,744

5.75%,

4/01/2030

(a)

319,000

304,213

6.75%,

5/01/2031

(a)

342,000

339,449

Cinemark

USA,

Inc.

8.75%,

5/01/2025

(a)

7,000

7,000

5.88%,

3/15/2026

(a)

135,000

133,087

5.25%,

7/15/2028

(a)(b)

26,000

24,160

Clarios

Global

LP

,

6.75%

,

5/15/2025

(a)

38,000

38,041

Clarios

Global

LP

/

Clarios

US

Finance

Co.

6.25%,

5/15/2026

(a)

170,000

169,827

8.50%,

5/15/2027

(a)

411,000

411,522

6.75%,

5/15/2028

(a)

63,000

63,226

Crocs,

Inc.

4.25%,

3/15/2029

(a)

75,000

67,324

4.13%,

8/15/2031

(a)

76,000

63,962

Dana,

Inc.

5.38%,

11/15/2027

85,000

82,185

4.25%,

9/01/2030

11,000

9,534

4.50%,

2/15/2032

76,000

64,395

Dave

&

Buster's,

Inc.

,

7.63%

,

11/01/2025

(a)

91,000

91,534

Dealer

Tire

LLC

/

DT

Issuer

LLC

,

8.00%

,

2/01/2028

(a)

70,000

68,833

Delta

Air

Lines,

Inc.

7.38%,

1/15/2026

180,000

183,946

4.38%,

4/19/2028

(b)

88,000

84,175

3.75%,

10/28/2029

200,000

180,218

Dornoch

Debt

Merger

Sub,

Inc.

,

6.63%

,

10/15/2029

(a)

129,000

106,464

Dream

Finders

Homes,

Inc.

,

8.25%

,

8/15/2028

(a)

30,000

30,902

eG

Global

Finance

PLC

,

12.00%

,

11/30/2028

(a)

250,000

258,287

Empire

Communities

Corp.

,

9.75%

,

5/01/2029

(a)

101,000

103,069

Empire

Resorts,

Inc.

,

7.75%

,

11/01/2026

(a)

229,000

213,005

Evergreen

Acqco

1

LP

/

TVI,

Inc.

,

9.75%

,

4/26/2028

(a)

70,000

74,143

Everi

Holdings,

Inc.

,

5.00%

,

7/15/2029

(a)

42,000

41,214

Ferrellgas

LP

/

Ferrellgas

Finance

Corp.

5.38%,

4/01/2026

(a)

262,000

256,930

5.88%,

4/01/2029

(a)

10,000

9,479

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co.,

Inc.

4.63%,

1/15/2029

(a)

5,000

4,523

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co.,

Inc.

(continued)

6.75%,

1/15/2030

(a)

351,000

305,736

FirstCash,

Inc.

4.63%,

9/01/2028

(a)

160,000

147,857

5.63%,

1/01/2030

(a)

242,000

228,474

Foot

Locker,

Inc.

,

4.00%

,

10/01/2029

(a)(b)

10,000

8,040

Forestar

Group,

Inc.

3.85%,

5/15/2026

(a)

190,000

180,439

5.00%,

3/01/2028

(a)

12,000

11,395

Foundation

Building

Materials,

Inc.

,

6.00%

,

3/01/2029

(a)

85,000

74,977

Full

House

Resorts,

Inc.

,

8.25%

,

2/15/2028

(a)

185,000

176,197

Gap,

Inc.

(The)

3.63%,

10/01/2029

(a)

1,000

847

3.88%,

10/01/2031

(a)

17,000

13,885

Genting

New

York

LLC

/

Genny

Capital,

Inc.

,

3.30%

,

2/15/2026

(a)

13,000

12,403

G-III

Apparel

Group

Ltd.

,

7.88%

,

8/15/2025

(a)

350,000

351,123

Global

Auto

Holdings

Ltd./AAG

FH

UK

Ltd.

,

8.38%

,

1/15/2029

(a)

40,000

38,278

Goodyear

Tire

&

Rubber

Co.

(The)

5.00%,

5/31/2026

110,000

106,553

4.88%,

3/15/2027

(b)

100,000

95,995

5.00%,

7/15/2029

(b)

130,000

118,240

5.25%,

4/30/2031

129,000

115,802

5.25%,

7/15/2031

(b)

162,000

143,293

5.63%,

4/30/2033

(b)

82,000

72,017

GPS

Hospitality

Holding

Co.

LLC

/

GPS

Finco,

Inc.

,

7.00%

,

8/15/2028

(a)

139,000

105,697

Group

1

Automotive,

Inc.

,

4.00%

,

8/15/2028

(a)

147,000

133,901

Guitar

Center,

Inc.

,

8.50%

,

1/15/2026

(a)

7,000

6,176

GYP

Holdings

III

Corp.

,

4.63%

,

5/01/2029

(a)

95,000

87,741

H&E

Equipment

Services,

Inc.

,

3.88%

,

12/15/2028

(a)

2,000

1,770

Hanesbrands,

Inc.

4.88%,

5/15/2026

(a)(b)

250,000

241,795

9.00%,

2/15/2031

(a)(b)

142,000

141,245

Hawaiian

Airlines

Pass-Through

Certificates

,

Series

2013-1

,

Class

A

,

3.90%

,

1/15/2026

470,957

438,785

Hawaiian

Brand

Intellectual

Property

Ltd.

/

HawaiianMiles

Loyalty

Ltd.

,

5.75%

,

1/20/2026

(a)

469,200

440,645

Hilton

Domestic

Operating

Co.,

Inc.

5.38%,

5/01/2025

(a)

20,000

19,904

5.75%,

5/01/2028

(a)

539,000

532,418

5.88%,

4/01/2029

(a)

182,000

179,721

3.75%,

5/01/2029

(a)

70,000

62,876

4.88%,

1/15/2030

339,000

318,281

4.00%,

5/01/2031

(a)

290,000

253,969

3.63%,

2/15/2032

(a)

393,000

330,260

6.13%,

4/01/2032

(a)

2,000

1,972

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

5.00%,

6/01/2029

(a)

69,000

62,559

4.88%,

7/01/2031

(a)

77,000

67,033

6.63%,

1/15/2032

(a)

245,000

241,198

129

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp.

,

4.88%

,

4/01/2027

81,000

78,750

IHO

Verwaltungs

GmbH

4.75%,

9/15/2026

(a)(c)

115,000

111,080

6.00%,

5/15/2027

(a)(c)

150,000

147,348

6.38%,

5/15/2029

(a)(c)

120,000

118,252

Installed

Building

Products,

Inc.

,

5.75%

,

2/01/2028

(a)

10,000

9,699

Interface,

Inc.

,

5.50%

,

12/01/2028

(a)

35,000

32,953

International

Game

Technology

PLC

4.13%,

4/15/2026

(a)

155,000

149,237

6.25%,

1/15/2027

(a)

344,000

343,485

5.25%,

1/15/2029

(a)

205,000

193,615

IRB

Holding

Corp.

,

7.00%

,

6/15/2025

(a)

94,000

94,050

Jacobs

Entertainment,

Inc.

,

6.75%

,

2/15/2029

(a)

8,000

7,624

Jaguar

Land

Rover

Automotive

PLC

7.75%,

10/15/2025

(a)

85,000

85,463

4.50%,

10/01/2027

(a)(b)

100,000

92,996

5.88%,

1/15/2028

(a)

122,740

118,637

5.50%,

7/15/2029

(a)

86,000

80,866

JB

Poindexter

&

Co.,

Inc.

,

8.75%

,

12/15/2031

(a)

47,000

48,007

K

Hovnanian

Enterprises,

Inc.

,

11.75%

,

9/30/2029

(a)

5,000

5,557

KB

Home

6.88%,

6/15/2027

120,000

122,827

4.80%,

11/15/2029

12,000

11,115

7.25%,

7/15/2030

30,000

30,735

4.00%,

6/15/2031

31,000

26,844

Ken

Garff

Automotive

LLC

,

4.88%

,

9/15/2028

(a)

50,000

46,533

KFC

Holding

Co.

/

Pizza

Hut

Holdings

LLC

/

Taco

Bell

of

America

LLC

,

4.75%

,

6/01/2027

(a)

617,000

596,185

Kohl's

Corp.

4.25%,

7/17/2025

5,000

4,885

4.63%,

5/01/2031

264,000

218,028

5.55%,

7/17/2045

60,000

41,155

Kontoor

Brands,

Inc.

,

4.13%

,

11/15/2029

(a)

14,000

12,519

Landsea

Homes

Corp.

,

8.88%

,

4/01/2029

(a)

65,000

63,781

LBM

Acquisition

LLC

,

6.25%

,

1/15/2029

(a)

153,000

140,495

LCM

Investments

Holdings

II

LLC

4.88%,

5/01/2029

(a)

190,000

173,541

8.25%,

8/01/2031

(a)

130,000

135,172

Levi

Strauss

&

Co.

,

3.50%

,

3/01/2031

(a)

90,000

76,845

LGI

Homes,

Inc.

8.75%,

12/15/2028

(a)

227,000

236,359

4.00%,

7/15/2029

(a)

234,000

200,091

Life

Time,

Inc.

,

5.75%

,

1/15/2026

(a)

6,000

5,933

Light

&

Wonder

International,

Inc.

7.00%,

5/15/2028

(a)

127,000

127,497

7.25%,

11/15/2029

(a)

160,000

161,649

7.50%,

9/01/2031

(a)

255,000

259,996

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Lindblad

Expeditions

Holdings,

Inc.

,

9.00%

,

5/15/2028

(a)

25,000

26,150

Lindblad

Expeditions

LLC

,

6.75%

,

2/15/2027

(a)

10,000

9,912

Lions

Gate

Capital

Holdings

LLC

,

5.50%

,

4/15/2029

(a)

180,000

136,927

Lithia

Motors,

Inc.

4.63%,

12/15/2027

(a)

227,000

214,133

3.88%,

6/01/2029

(a)

158,000

139,925

4.38%,

1/15/2031

(a)

47,000

41,125

Live

Nation

Entertainment,

Inc.

5.63%,

3/15/2026

(a)

10,000

9,822

6.50%,

5/15/2027

(a)

392,000

392,726

4.75%,

10/15/2027

(a)(b)

516,000

486,535

3.75%,

1/15/2028

(a)

85,000

77,362

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp.

,

7.75%

,

2/15/2026

(a)

6,000

5,881

M/I

Homes,

Inc.

4.95%,

2/01/2028

156,000

147,748

3.95%,

2/15/2030

37,000

32,072

Macy's

Retail

Holdings

LLC

5.88%,

4/01/2029

(a)

11,000

10,608

5.88%,

3/15/2030

(a)(b)

115,000

109,729

6.13%,

3/15/2032

(a)

340,000

321,888

6.70%,

7/15/2034

(a)

15,000

12,607

4.50%,

12/15/2034

20,000

17,068

6.38%,

3/15/2037

110,000

99,912

5.13%,

1/15/2042

55,000

46,229

4.30%,

2/15/2043

51,000

40,271

MajorDrive

Holdings

IV

LLC

,

6.38%

,

6/01/2029

(a)

189,000

177,167

Marks

&

Spencer

PLC

,

7.13%

,

12/01/2037

(a)

10,000

10,287

Marriott

Ownership

Resorts,

Inc.

4.75%,

1/15/2028

22,000

20,309

4.50%,

6/15/2029

(a)(b)

9,000

8,089

Mattamy

Group

Corp.

5.25%,

12/15/2027

(a)

200,000

191,622

4.63%,

3/01/2030

(a)

163,000

146,076

Melco

Resorts

Finance

Ltd.

4.88%,

6/06/2025

111,000

108,140

5.25%,

4/26/2026

14,000

13,453

5.63%,

7/17/2027

64,000

60,416

5.75%,

7/21/2028

(a)

225,000

209,349

5.38%,

12/04/2029

(a)

378,000

337,198

7.63%,

4/17/2032

(a)

200,000

197,116

Merlin

Entertainments

Ltd.

,

5.75%

,

6/15/2026

(a)

4,000

3,957

MGM

China

Holdings

Ltd.

5.25%,

6/18/2025

(a)(b)

14,000

13,745

5.88%,

5/15/2026

(a)

130,000

127,562

4.75%,

2/01/2027

(a)

164,000

154,670

MGM

Resorts

International

5.75%,

6/15/2025

24,000

23,876

4.63%,

9/01/2026

3,000

2,887

5.50%,

4/15/2027

10,000

9,750

4.75%,

10/15/2028

(b)

5,000

4,656

6.50%,

4/15/2032

571,000

553,883

Michaels

Cos.,

Inc.

(The)

5.25%,

5/01/2028

(a)

320,000

270,954

130

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Michaels

Cos.,

Inc.

(The)

(continued)

7.88%,

5/01/2029

(a)

304,000

222,198

Midwest

Gaming

Borrower

LLC

/

Midwest

Gaming

Finance

Corp.

,

4.88%

,

5/01/2029

(a)

530,000

484,253

Mohegan

Tribal

Gaming

Authority

8.00%,

2/01/2026

(a)

420,000

398,738

13.25%,

12/15/2027

(a)

50,000

54,950

Motion

Bondco

DAC

,

6.63%

,

11/15/2027

(a)

140,000

134,980

Murphy

Oil

USA,

Inc.

5.63%,

5/01/2027

12,000

11,856

4.75%,

9/15/2029

134,000

124,853

3.75%,

2/15/2031

(a)

113,000

97,165

NCL

Corp.

Ltd.

5.88%,

3/15/2026

(a)

321,000

314,385

5.88%,

2/15/2027

(a)

173,000

168,952

8.38%,

2/01/2028

(a)

65,000

67,791

8.13%,

1/15/2029

(a)

124,000

129,178

7.75%,

2/15/2029

(a)(b)

1,000

1,023

NCL

Finance

Ltd.

,

6.13%

,

3/15/2028

(a)

305,000

297,364

New

Home

Co.,

Inc.

(The)

,

9.25%

,

10/01/2029

(a)

374,000

374,696

Newell

Brands,

Inc.

4.88%,

6/01/2025

99,000

97,434

5.70%,

4/01/2026

395,000

389,190

6.38%,

9/15/2027

(b)

100,000

98,124

6.63%,

9/15/2029

(b)

450,000

435,543

6.88%,

4/01/2036

20,000

17,501

7.00%,

4/01/2046

115,000

93,380

NMG

Holding

Co.,

Inc.

/

Neiman

Marcus

Group

LLC

,

7.13%

,

4/01/2026

(a)

526,000

522,548

Nordstrom,

Inc.

4.00%,

3/15/2027

(b)

70,000

66,361

6.95%,

3/15/2028

50,000

49,650

4.38%,

4/01/2030

361,000

322,297

4.25%,

8/01/2031

(b)

57,000

49,176

5.00%,

1/15/2044

35,000

26,566

Odeon

Finco

PLC

,

12.75%

,

11/01/2027

(a)

80,000

82,429

Ontario

Gaming

GTA

LP/OTG

Co.-Issuer,

Inc.

,

8.00%

,

8/01/2030

(a)

13,000

13,257

OPENLANE,

Inc.

,

5.13%

,

6/01/2025

(a)

36,000

35,464

Papa

John's

International,

Inc.

,

3.88%

,

9/15/2029

(a)

7,000

6,097

Park

River

Holdings,

Inc.

5.63%,

2/01/2029

(a)

100,000

82,812

6.75%,

8/01/2029

(a)

25,000

21,536

Patrick

Industries,

Inc.

,

4.75%

,

5/01/2029

(a)

1,000

909

Penn

Entertainment,

Inc.

5.63%,

1/15/2027

(a)(b)

35,000

33,342

4.13%,

7/01/2029

(a)

4,000

3,348

Penske

Automotive

Group,

Inc.

3.50%,

9/01/2025

115,000

111,171

3.75%,

6/15/2029

68,000

59,722

PetSmart,

Inc.

/

PetSmart

Finance

Corp.

4.75%,

2/15/2028

(a)

146,000

134,756

7.75%,

2/15/2029

(a)

371,000

352,583

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Phinia,

Inc.

,

6.75%

,

4/15/2029

(a)

6,000

6,022

PM

General

Purchaser

LLC

,

9.50%

,

10/01/2028

(a)

19,000

19,252

Premier

Entertainment

Sub

LLC

/

Premier

Entertainment

Finance

Corp.

5.63%,

9/01/2029

(a)

136,000

101,544

5.88%,

9/01/2031

(a)

458,000

328,891

QVC,

Inc.

4.75%,

2/15/2027

200,000

173,976

4.38%,

9/01/2028

75,000

57,578

5.95%,

3/15/2043

66,000

40,591

Raising

Cane's

Restaurants

LLC

,

9.38%

,

5/01/2029

(a)

111,000

119,049

Raptor

Acquisition

Corp.

/

Raptor

Co.-Issuer

LLC

,

4.88%

,

11/01/2026

(a)

35,000

33,397

Real

Hero

Merger

Sub

2,

Inc.

,

6.25%

,

2/01/2029

(a)

271,000

232,976

Resideo

Funding,

Inc.

,

4.00%

,

9/01/2029

(a)

5,000

4,382

Resorts

World

Las

Vegas

LLC/RWLV

Capital

Inc.

4.63%,

4/16/2029

200,000

176,708

8.45%,

7/27/2030

(a)

200,000

209,618

4.63%,

4/06/2031

(a)

100,000

84,887

Ritchie

Bros

Holdings,

Inc.

6.75%,

3/15/2028

(a)

120,000

121,218

7.75%,

3/15/2031

(a)

365,000

378,651

Royal

Caribbean

Cruises

Ltd.

5.50%,

8/31/2026

(a)

148,000

145,220

5.38%,

7/15/2027

(a)

318,000

309,426

7.50%,

10/15/2027

50,000

52,159

3.70%,

3/15/2028

7,000

6,432

5.50%,

4/01/2028

(a)

1,000

974

9.25%,

1/15/2029

(a)

181,000

193,420

7.25%,

1/15/2030

(a)

520,000

535,477

6.25%,

3/15/2032

(a)

87,000

85,716

Scientific

Games

Holdings

LP/Scientific

Games

US

FinCo,

Inc.

,

6.63%

,

3/01/2030

(a)

94,000

88,978

Scotts

Miracle-GRO

Co.

(The)

5.25%,

12/15/2026

33,000

32,130

4.50%,

10/15/2029

55,000

48,975

4.00%,

4/01/2031

55,000

46,385

4.38%,

2/01/2032

54,000

45,437

SeaWorld

Parks

&

Entertainment,

Inc.

,

5.25%

,

8/15/2029

(a)

266,000

245,165

Shea

Homes

LP

/

Shea

Homes

Funding

Corp.

4.75%,

2/15/2028

141,000

132,331

4.75%,

4/01/2029

43,000

39,461

Six

Flags

Entertainment

Corp.

5.50%,

4/15/2027

(a)

35,000

33,791

7.25%,

5/15/2031

(a)

356,000

355,242

Six

Flags

Theme

Parks,

Inc.

,

7.00%

,

7/01/2025

(a)

77,000

77,071

Sizzling

Platter

LLC

/

Sizzling

Platter

Finance

Corp.

,

8.50%

,

11/28/2025

(a)

15,000

15,155

Sonic

Automotive,

Inc.

4.63%,

11/15/2029

(a)(b)

121,000

108,302

4.88%,

11/15/2031

(a)

46,000

40,159

131

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp.

,

6.38%

,

9/30/2026

(a)

158,000

156,600

Speedway

Motorsports

LLC

/

Speedway

Funding

II,

Inc.

,

4.88%

,

11/01/2027

(a)

11,000

10,370

Spirit

Loyalty

Cayman

Ltd.

/

Spirit

IP

Cayman

Ltd.

8.00%,

9/20/2025

(a)

93,000

72,681

8.00%,

9/20/2025

(a)

110,000

86,075

SRS

Distribution,

Inc.

4.63%,

7/01/2028

(a)

156,000

155,451

6.13%,

7/01/2029

(a)

150,000

152,468

6.00%,

12/01/2029

(a)

269,000

272,527

Staples,

Inc.

7.50%,

4/15/2026

(a)

536,000

514,709

10.75%,

4/15/2027

(a)

229,000

209,805

Station

Casinos

LLC

4.50%,

2/15/2028

(a)

600,000

556,452

4.63%,

12/01/2031

(a)

105,000

92,211

6.63%,

3/15/2032

(a)

220,000

216,284

Steelcase,

Inc.

,

5.13%

,

1/18/2029

60,000

56,126

Studio

City

Co.

Ltd.

,

7.00%

,

2/15/2027

(a)

10,000

9,902

Studio

City

Finance

Ltd.

6.00%,

7/15/2025

(a)

480,000

473,092

6.50%,

1/15/2028

(a)

236,000

220,373

5.00%,

1/15/2029

(a)

67,000

57,648

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp.

,

5.00%

,

6/01/2031

(a)

5,000

4,434

Sugarhouse

HSP

Gaming

Prop

Mezz

LP

/

Sugarhouse

HSP

Gaming

Finance

Corp.

,

5.88%

,

5/15/2025

(a)

15,000

14,925

SWF

Escrow

Issuer

Corp.

,

6.50%

,

10/01/2029

(a)

139,000

85,920

Taylor

Morrison

Communities,

Inc.

5.88%,

6/15/2027

(a)

125,000

123,203

5.75%,

1/15/2028

(a)

115,000

111,999

5.13%,

8/01/2030

(a)

80,000

74,493

Tempur

Sealy

International,

Inc.

4.00%,

4/15/2029

(a)

96,000

85,440

3.88%,

10/15/2031

(a)

106,000

87,616

Tenneco,

Inc.

,

8.00%

,

11/17/2028

(a)

480,000

449,624

Thor

Industries,

Inc.

,

4.00%

,

10/15/2029

(a)

280,000

242,518

Titan

International,

Inc.

,

7.00%

,

4/30/2028

110,000

106,332

TKC

Holdings,

Inc.

6.88%,

5/15/2028

(a)

115,000

108,961

10.50%,

5/15/2029

(a)

140,000

133,938

Travel

+

Leisure

Co.

6.60%,

10/01/2025

124,000

124,733

6.63%,

7/31/2026

(a)

172,000

172,190

6.00%,

4/01/2027

351,000

346,553

4.50%,

12/01/2029

(a)

145,000

130,554

TRI

Pointe

Group,

Inc.

5.25%,

6/01/2027

116,000

111,781

5.70%,

6/15/2028

11,000

10,627

Under

Armour,

Inc.

,

3.25%

,

6/15/2026

87,000

81,939

United

Airlines

Pass-Through

Trust

,

Series

2016-2

,

Class

A

,

3.10%

,

10/07/2028

6,664

5,876

United

Airlines,

Inc.

4.38%,

4/15/2026

(a)

380,000

365,708

4.63%,

4/15/2029

(a)

401,000

369,794

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

Vail

Resorts,

Inc.

,

6.25%

,

5/15/2025

(a)

8,000

8,004

Verde

Purchaser

LLC

,

10.50%

,

11/30/2030

(a)

235,000

247,699

Victoria's

Secret

&

Co.

,

4.63%

,

7/15/2029

(a)(b)

138,000

108,461

Viking

Cruises

Ltd.

6.25%,

5/15/2025

(a)

12,000

11,967

5.88%,

9/15/2027

(a)

598,000

579,613

7.00%,

2/15/2029

(a)

11,000

10,957

9.13%,

7/15/2031

(a)

247,000

264,798

Viking

Ocean

Cruises

Ship

VII

Ltd.

,

5.63%

,

2/15/2029

(a)

73,000

69,936

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding,

Inc.

,

9.50%

,

6/01/2028

(a)(b)

75,000

67,057

VistaJet

Malta

Finance

PLC

/

XO

Management

Holding,

Inc.

7.88%,

5/01/2027

(a)

150,000

133,542

6.38%,

2/01/2030

(a)(b)

69,000

53,485

VOC

Escrow

Ltd.

,

5.00%

,

2/15/2028

(a)

10,000

9,538

Wabash

National

Corp.

,

4.50%

,

10/15/2028

(a)

380,000

341,742

Walgreens

Boots

Alliance,

Inc.

3.45%,

6/01/2026

355,000

335,104

3.20%,

4/15/2030

75,000

64,310

4.80%,

11/18/2044

(b)

11,000

8,899

4.65%,

6/01/2046

25,000

20,288

4.10%,

4/15/2050

19,000

13,364

White

Capital

Buyer

LLC

,

6.88%

,

10/15/2028

(a)

125,000

120,758

White

Capital

Parent

LLC

,

8.25%

,

3/15/2026

(a)(c)

10,000

10,015

William

Carter

Co.

(The)

,

5.63%

,

3/15/2027

(a)

57,000

55,418

Windsor

Holdings

III

LLC

,

8.50%

,

6/15/2030

(a)

326,000

340,221

Winnebago

Industries,

Inc.

,

6.25%

,

7/15/2028

(a)

25,000

24,491

WMG

Acquisition

Corp.

3.75%,

12/01/2029

(a)

129,000

113,431

3.88%,

7/15/2030

(a)

221,000

192,609

3.00%,

2/15/2031

(a)

136,000

112,976

Wolverine

World

Wide,

Inc.

,

4.00%

,

8/15/2029

(a)

4,000

3,196

Wyndham

Hotels

&

Resorts,

Inc.

,

4.38%

,

8/15/2028

(a)

120,000

110,208

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

,

5.25%

,

5/15/2027

(a)

160,000

155,190

Wynn

Macau

Ltd.

5.50%,

1/15/2026

(a)

1,000

971

5.63%,

8/26/2028

(a)

359,000

331,496

5.13%,

12/15/2029

(a)

234,000

206,647

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

5.13%,

10/01/2029

(a)

89,000

82,601

7.13%,

2/15/2031

(a)

131,000

132,924

Yum!

Brands,

Inc.

4.75%,

1/15/2030

(a)

358,000

335,418

3.63%,

3/15/2031

6,000

5,181

4.63%,

1/31/2032

284,000

255,858

5.38%,

4/01/2032

300,000

283,309

6.88%,

11/15/2037

71,000

75,511

5.35%,

11/01/2043

60,000

55,722

132

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Cyclical

–

21.6%

(continued)

ZF

North

America

Capital,

Inc.

6.88%,

4/14/2028

(a)

289,000

291,092

7.13%,

4/14/2030

(a)

9,000

9,205

6.75%,

4/23/2030

(a)

271,000

271,961

58,201,545

Consumer,

Non-cyclical

–

14.4%

180

Medical,

Inc.

,

3.88%

,

10/15/2029

(a)

7,000

6,202

Acadia

Healthcare

Co.,

Inc.

5.50%,

7/01/2028

(a)

25,000

24,083

5.00%,

4/15/2029

(a)

106,000

99,339

ACCO

Brands

Corp.

,

4.25%

,

3/15/2029

(a)

220,000

191,675

AdaptHealth

LLC

6.13%,

8/01/2028

(a)

96,000

89,965

4.63%,

8/01/2029

(a)

9,000

7,586

5.13%,

3/01/2030

(a)(b)

97,000

82,594

ADT

Security

Corp.

(The)

4.13%,

8/01/2029

(a)

200,000

180,700

4.88%,

7/15/2032

(a)

13,000

11,583

Adtalem

Global

Education,

Inc.

,

5.50%

,

3/01/2028

(a)

46,000

43,759

AHP

Health

Partners,

Inc.

,

5.75%

,

7/15/2029

(a)

15,000

13,732

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

LP

/

Albertsons

LLC

3.25%,

3/15/2026

(a)

236,000

224,012

7.50%,

3/15/2026

(a)

99,000

100,501

4.63%,

1/15/2027

(a)

450,000

429,920

5.88%,

2/15/2028

(a)

190,000

186,086

6.50%,

2/15/2028

(a)

138,000

137,856

3.50%,

3/15/2029

(a)

292,000

257,373

4.88%,

2/15/2030

(a)

181,000

168,741

Albion

Financing

1

Sarl

/

Aggreko

Holdings,

Inc.

,

6.13%

,

10/15/2026

(a)

170,000

166,554

Albion

Financing

2

Sarl

,

8.75%

,

4/15/2027

(a)

115,000

115,913

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

6.63%,

7/15/2026

(a)

457,000

456,098

9.75%,

7/15/2027

(a)

250,000

249,066

6.00%,

6/01/2029

(a)

285,000

242,534

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

/

Atlas

Luxco

4

Sarl

4.63%,

6/01/2028

(a)

235,000

211,117

4.63%,

6/01/2028

(a)

124,000

111,333

Alta

Equipment

Group,

Inc.

,

5.63%

,

4/15/2026

(a)

9,000

8,701

AMN

Healthcare,

Inc.

4.63%,

10/01/2027

(a)

40,000

37,585

4.00%,

4/15/2029

(a)

35,000

30,978

APi

Group

DE,

Inc.

4.13%,

7/15/2029

(a)

26,000

22,910

4.75%,

10/15/2029

(a)

85,000

77,316

Aptim

Corp.

,

7.75%

,

6/15/2025

(a)

17,000

16,824

APX

Group,

Inc.

6.75%,

2/15/2027

(a)

9,000

8,948

5.75%,

7/15/2029

(a)

305,000

283,290

Arrow

Bidco

LLC

,

10.75%

,

6/15/2025

(a)

300,000

309,002

Avantor

Funding,

Inc.

4.63%,

7/15/2028

(a)

348,000

323,393

3.88%,

11/01/2029

(a)

5,000

4,423

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance,

Inc.

5.75%,

7/15/2027

(a)

96,000

91,234

5.75%,

7/15/2027

(a)

130,000

122,844

4.75%,

4/01/2028

(a)

14,000

12,386

5.38%,

3/01/2029

(a)

8,000

7,142

8.00%,

2/15/2031

(a)(b)

3,000

2,872

B&G

Foods,

Inc.

5.25%,

4/01/2025

30,000

29,638

8.00%,

9/15/2028

(a)

82,000

84,912

Bausch

+

Lomb

Corp.

,

8.38%

,

10/01/2028

(a)

455,000

469,623

Bausch

Health

Americas,

Inc.

9.25%,

4/01/2026

(a)

200,000

185,067

8.50%,

1/31/2027

(a)

120,000

78,272

Bausch

Health

Cos.,

Inc.

5.50%,

11/01/2025

(a)

295,000

275,564

9.00%,

12/15/2025

(a)

181,000

171,008

6.13%,

2/01/2027

(a)

10,000

7,334

5.75%,

8/15/2027

(a)

70,000

48,171

7.00%,

1/15/2028

(a)

100,000

49,612

5.00%,

1/30/2028

(a)

90,000

40,947

4.88%,

6/01/2028

(a)

350,000

226,025

11.00%,

9/30/2028

(a)

368,000

287,694

5.00%,

2/15/2029

(a)

97,000

41,496

6.25%,

2/15/2029

(a)

217,000

94,653

5.25%,

1/30/2030

(a)

218,000

93,297

14.00%,

10/15/2030

(a)

1,000

645

5.25%,

2/15/2031

(a)

190,000

79,085

BellRing

Brands,

Inc.

,

7.00%

,

3/15/2030

(a)

214,000

216,949

Block,

Inc.

2.75%,

6/01/2026

202,000

189,746

3.50%,

6/01/2031

44,000

37,209

Boost

Newco

Borrower

LLC

,

7.50%

,

1/15/2031

(a)

520,000

536,321

Brink's

Co.

(The)

5.50%,

7/15/2025

(a)

217,000

215,755

4.63%,

10/15/2027

(a)

85,000

79,733

C&S

Group

Enterprises

LLC

,

5.00%

,

12/15/2028

(a)

95,000

72,675

Carriage

Services,

Inc.

,

4.25%

,

5/15/2029

(a)

13,000

11,449

Catalent

Pharma

Solutions,

Inc.

,

5.00%

,

7/15/2027

(a)

111,000

108,626

Central

Garden

&

Pet

Co.

5.13%,

2/01/2028

115,000

110,279

4.13%,

10/15/2030

3,000

2,622

4.13%,

4/30/2031

(a)

11,000

9,536

Champions

Financing,

Inc.

,

8.75%

,

2/15/2029

(a)

30,000

30,691

Charles

River

Laboratories

International,

Inc.

4.25%,

5/01/2028

(a)

34,000

31,705

3.75%,

3/15/2029

(a)

201,000

180,910

4.00%,

3/15/2031

(a)

174,000

151,953

Cheplapharm

Arzneimittel

GmbH

,

5.50%

,

1/15/2028

(a)

105,000

98,714

Chobani

LLC

/

Chobani

Finance

Corp.,

Inc.

4.63%,

11/15/2028

(a)

155,000

143,613

7.63%,

7/01/2029

(a)

145,000

146,803

CHS/Community

Health

Systems,

Inc.

8.00%,

3/15/2026

(a)

339,000

337,503

133

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

CHS/Community

Health

Systems,

Inc.

(continued)

5.63%,

3/15/2027

(a)

526,000

481,808

8.00%,

12/15/2027

(a)

95,000

92,867

6.88%,

4/01/2028

(a)

140,000

96,437

6.00%,

1/15/2029

(a)

155,000

135,321

6.88%,

4/15/2029

(a)

115,000

85,213

6.13%,

4/01/2030

(a)

383,000

270,887

5.25%,

5/15/2030

(a)

250,000

204,762

4.75%,

2/15/2031

(a)

279,000

218,040

10.88%,

1/15/2032

(a)(b)

79,000

80,974

Cimpress

PLC

,

7.00%

,

6/15/2026

15,000

14,922

CoreCivic,

Inc.

,

4.75%

,

10/15/2027

475,000

442,829

CoreLogic,

Inc.

,

4.50%

,

5/01/2028

(a)(b)

130,000

112,409

Coty,

Inc.

5.00%,

4/15/2026

(a)

144,000

141,209

6.50%,

4/15/2026

(a)

145,000

145,051

Coty,

Inc.

/

HFC

Prestige

Products,

Inc.

/

HFC

Prestige

International

US

LLC

4.75%,

1/15/2029

(a)

189,000

176,276

6.63%,

7/15/2030

(a)

155,000

155,194

CPI

CG,

Inc.

,

8.63%

,

3/15/2026

(a)

230,000

228,647

Darling

Ingredients,

Inc.

5.25%,

4/15/2027

(a)

58,000

56,231

6.00%,

6/15/2030

(a)

175,000

170,224

DaVita,

Inc.

4.63%,

6/01/2030

(a)

627,000

549,880

3.75%,

2/15/2031

(a)

262,000

215,748

Deluxe

Corp.

,

8.00%

,

6/01/2029

(a)

5,000

4,514

Edgewell

Personal

Care

Co.

5.50%,

6/01/2028

(a)

252,000

243,388

4.13%,

4/01/2029

(a)

5,000

4,532

Elanco

Animal

Health,

Inc.

,

6.65%

,

8/28/2028

15,000

14,988

Embecta

Corp.

5.00%,

2/15/2030

(a)(b)

41,000

31,610

6.75%,

2/15/2030

(a)

197,000

169,121

Emergent

Biosolutions,

Inc.

,

3.88%

,

8/15/2028

(a)

85,000

42,802

Encompass

Health

Corp.

5.75%,

9/15/2025

10,000

9,930

4.50%,

2/01/2028

374,000

350,720

4.75%,

2/01/2030

351,000

321,989

4.63%,

4/01/2031

380,000

341,036

Endo

Finance

Holdings,

Inc.

,

8.50%

,

4/15/2031

(a)

50,000

50,869

Fiesta

Purchaser,

Inc.

,

7.88%

,

3/01/2031

(a)

70,000

71,239

Fortrea

Holdings,

Inc.

,

7.50%

,

7/01/2030

(a)(b)

69,000

69,875

Garda

World

Security

Corp.

4.63%,

2/15/2027

(a)

15,000

14,271

9.50%,

11/01/2027

(a)

33,000

32,844

7.75%,

2/15/2028

(a)

87,000

87,960

6.00%,

6/01/2029

(a)

205,000

180,909

Geo

Group,

Inc.

(The)

8.63%,

4/15/2029

(a)

66,000

66,782

10.25%,

4/15/2031

(a)

221,000

228,021

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

Graham

Holdings

Co.

,

5.75%

,

6/01/2026

(a)

193,000

190,978

Grand

Canyon

University

,

5.13%

,

10/01/2028

(b)

46,000

41,240

Grifols

SA

,

4.75%

,

10/15/2028

(a)

243,000

195,386

HealthEquity,

Inc.

,

4.50%

,

10/01/2029

(a)

83,000

75,736

Heartland

Dental

LLC

/

Heartland

Dental

Finance

Corp.

8.50%,

5/01/2026

(a)

12,000

11,949

10.50%,

4/30/2028

(a)(b)

230,000

243,354

Herbalife

Nutrition

Ltd.

/

HLF

Financing,

Inc.

,

7.88%

,

9/01/2025

(a)

170,000

163,137

Herc

Holdings,

Inc.

,

5.50%

,

7/15/2027

(a)

544,000

528,397

Hertz

Corp.

(The)

4.63%,

12/01/2026

(a)

81,000

62,777

5.00%,

12/01/2029

(a)(b)

84,000

57,967

H-Food

Holdings

LLC

/

Hearthside

Finance

Co.,

Inc.

,

8.50%

,

6/01/2026

(a)

31,000

2,218

HLF

Financing

Sarl

LLC

/

Herbalife

International,

Inc.

12.25%,

4/15/2029

(a)

390,000

372,930

4.88%,

6/01/2029

(a)

110,000

64,714

Hologic,

Inc.

4.63%,

2/01/2028

(a)

192,000

182,233

3.25%,

2/15/2029

(a)

240,000

211,332

Ingles

Markets,

Inc.

,

4.00%

,

6/15/2031

(a)

115,000

99,683

IQVIA,

Inc.

5.00%,

10/15/2026

(a)

132,000

129,127

5.00%,

5/15/2027

(a)

230,000

222,039

6.50%,

5/15/2030

(a)

215,000

216,309

Jazz

Securities

DAC

,

4.38%

,

1/15/2029

(a)

530,000

484,950

Kedrion

SpA

,

6.50%

,

9/01/2029

(a)(b)

5,000

4,492

KeHE

Distributors

LLC

/

KeHE

Finance

Corp.

/

NextWave

Distribution,

Inc.

,

9.00%

,

2/15/2029

(a)

242,000

244,656

Korn

Ferry

,

4.63%

,

12/15/2027

(a)

10,000

9,490

Kronos

Acquisition

Holdings,

Inc.

/

KIK

Custom

Products,

Inc.

5.00%,

12/31/2026

(a)

29,000

27,983

7.00%,

12/31/2027

(a)

55,000

53,115

Lamb

Weston

Holdings,

Inc.

4.88%,

5/15/2028

(a)

160,000

152,794

4.13%,

1/31/2030

(a)

189,000

168,442

Land

O'Lakes

Capital

Trust

I

,

7.45%

,

3/15/2028

(a)

5,000

4,899

Legacy

LifePoint

Health

LLC

,

4.38%

,

2/15/2027

(a)

266,000

249,416

LifePoint

Health,

Inc.

5.38%,

1/15/2029

(a)

56,000

44,771

9.88%,

8/15/2030

(a)

25,000

26,048

11.00%,

10/15/2030

(a)

301,000

320,645

Mallinckrodt

International

Finance

SA

/

Mallinckrodt

CB

LLC

,

14.75%

,

11/14/2028

(a)

170,000

185,226

Matthews

International

Corp.

,

5.25%

,

12/01/2025

(a)

10,000

9,796

Mavis

Tire

Express

Services

Topco

Corp.

,

6.50%

,

5/15/2029

(a)

50,000

46,342

Medline

Borrower

LP

3.88%,

4/01/2029

(a)

996,000

891,669

5.25%,

10/01/2029

(a)

460,000

428,336

134

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

Medline

Borrower

LP/Medline

Co.-Issuer,

Inc.

,

6.25%

,

4/01/2029

(a)

220,000

218,566

Mobius

Merger

Sub,

Inc.

,

9.00%

,

6/01/2030

(a)

70,000

69,532

ModivCare

Escrow

Issuer,

Inc.

,

5.00%

,

10/01/2029

(a)(b)

96,000

66,879

ModivCare,

Inc.

,

5.88%

,

11/15/2025

(a)(b)

346,000

337,629

Molina

Healthcare,

Inc.

4.38%,

6/15/2028

(a)

263,000

243,981

3.88%,

11/15/2030

(a)

165,000

143,339

3.88%,

5/15/2032

(a)

195,000

163,162

MPH

Acquisition

Holdings

LLC

5.50%,

9/01/2028

(a)

242,000

197,350

5.75%,

11/01/2028

(a)

300,000

220,642

Neogen

Food

Safety

Corp.

,

8.63%

,

7/20/2030

(a)

70,000

73,776

Neptune

Bidco

US,

Inc.

,

9.29%

,

4/15/2029

(a)

140,000

132,153

NESCO

Holdings

II,

Inc.

,

5.50%

,

4/15/2029

(a)

155,000

144,610

Option

Care

Health,

Inc.

,

4.38%

,

10/31/2029

(a)

3,000

2,692

Organon

&

Co.

/

Organon

Foreign

Debt

Co.-

Issuer

BV

4.13%,

4/30/2028

(a)

576,000

524,790

5.13%,

4/30/2031

(a)

605,000

523,273

Oriflame

Investment

Holding

PLC

,

5.13%

,

5/04/2026

(a)

125,000

32,779

Owens

&

Minor,

Inc.

4.50%,

3/31/2029

(a)

14,000

12,534

6.63%,

4/01/2030

(a)

7,000

6,798

P&L

Development

LLC

/

PLD

Finance

Corp.

,

7.75%

,

11/15/2025

(a)

100,000

84,693

Paysafe

Finance

PLC

/

Paysafe

Holdings

US

Corp.

,

4.00%

,

6/15/2029

(a)

503,000

441,743

PECF

USS

Intermediate

Holding

III

Corp.

,

8.00%

,

11/15/2029

(a)

116,000

50,782

Performance

Food

Group,

Inc.

6.88%,

5/01/2025

(a)

10,000

10,000

5.50%,

10/15/2027

(a)

250,000

242,045

4.25%,

8/01/2029

(a)

285,000

255,420

Perrigo

Finance

Unlimited

Co.

4.38%,

3/15/2026

45,000

43,524

4.65%,

6/15/2030

73,000

66,876

4.90%,

12/15/2044

20,000

15,700

Port

of

Newcastle

Investments

Financing

Pty

Ltd.

,

5.90%

,

11/24/2031

(a)

11,000

10,033

Post

Holdings,

Inc.

5.63%,

1/15/2028

(a)

622,000

603,692

5.50%,

12/15/2029

(a)

343,000

325,210

4.63%,

4/15/2030

(a)

247,000

222,924

4.50%,

9/15/2031

(a)

140,000

123,310

6.25%,

2/15/2032

(a)

70,000

69,142

Prestige

Brands,

Inc.

,

5.13%

,

1/15/2028

(a)

185,000

177,659

Prime

Healthcare

Services,

Inc.

,

7.25%

,

11/01/2025

(a)

191,000

190,430

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

5.75%,

4/15/2026

(a)

405,000

400,210

3.38%,

8/31/2027

(a)

310,000

282,351

6.25%,

1/15/2028

(a)(b)

161,000

157,368

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

Primo

Water

Holdings,

Inc.

,

4.38%

,

4/30/2029

(a)

7,000

6,383

Radiology

Partners,

Inc.

,

9.78%

,

2/15/2030

(a)

(c)

130,000

102,008

RegionalCare

Hospital

Partners

Holdings,

Inc.

/

LifePoint

Health,

Inc.

,

9.75%

,

12/01/2026

(a)

274,000

272,717

Sabre

GLBL,

Inc.

8.63%,

6/01/2027

(a)

200,000

176,750

11.25%,

12/15/2027

(a)

138,000

128,882

Select

Medical

Corp.

,

6.25%

,

8/15/2026

(a)

196,000

196,031

Service

Corp.

International

7.50%,

4/01/2027

2,000

2,057

4.63%,

12/15/2027

11,000

10,449

5.13%,

6/01/2029

2,000

1,916

3.38%,

8/15/2030

10,000

8,490

4.00%,

5/15/2031

380,000

328,350

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub,

Inc.

,

4.63%

,

11/01/2026

(a)

60,000

57,765

Sigma

Holdco

BV

,

7.88%

,

5/15/2026

(a)

179,000

169,440

Signal

Parent,

Inc.

,

6.13%

,

4/01/2029

(a)

200,000

153,447

Simmons

Foods,

Inc./Simmons

Prepared

Foods,

Inc./Simmons

Pet

Food,

Inc./

Simmons

Feed

Ingredients,

Inc.

,

4.63%

,

3/01/2029

(a)

120,000

103,685

Sotheby's

,

7.38%

,

10/15/2027

(a)

292,000

272,393

Sotheby's

/

Bidfair

Holdings,

Inc.

,

5.88%

,

6/01/2029

(a)

11,000

9,147

Spectrum

Brands,

Inc.

5.00%,

10/01/2029

(a)

302,000

294,428

5.50%,

7/15/2030

(a)

50,000

48,489

3.88%,

3/15/2031

(a)(b)

145,000

135,949

Star

Parent,

Inc.

,

9.00%

,

10/01/2030

(a)

187,000

195,852

StoneMor,

Inc.

,

8.50%

,

5/15/2029

(a)

85,000

67,809

Surgery

Center

Holdings,

Inc.

,

7.25%

,

4/15/2032

(a)

60,000

59,912

Teleflex,

Inc.

4.63%,

11/15/2027

10,000

9,500

4.25%,

6/01/2028

(a)

210,000

194,403

Tenet

Healthcare

Corp.

5.13%,

11/01/2027

311,000

300,955

4.63%,

6/15/2028

105,000

98,854

6.13%,

10/01/2028

(b)

416,000

411,170

4.25%,

6/01/2029

216,000

197,799

4.38%,

1/15/2030

300,000

272,652

6.13%,

6/15/2030

425,000

418,710

6.75%,

5/15/2031

(a)

305,000

305,910

Toledo

Hospital

(The)

Series

B,

5.33%,

11/15/2028

85,000

79,817

4.98%,

11/15/2045

30,000

20,408

Tower

Health

,

Series

2020

,

4.45%

,

2/01/2050

40,000

19,668

TreeHouse

Foods,

Inc.

,

4.00%

,

9/01/2028

5,000

4,411

TriNet

Group,

Inc.

3.50%,

3/01/2029

(a)

5,000

4,383

7.13%,

8/15/2031

(a)

4,000

4,021

135

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Consumer,

Non-cyclical

–

14.4%

(continued)

Triton

Water

Holdings,

Inc.

,

6.25%

,

4/01/2029

(a)

160,000

143,508

Turning

Point

Brands,

Inc.

,

5.63%

,

2/15/2026

(a)

165,000

161,268

United

Natural

Foods,

Inc.

,

6.75%

,

10/15/2028

(a)

13,000

9,980

United

Rentals

North

America,

Inc.

5.50%,

5/15/2027

88,000

86,780

3.88%,

11/15/2027

197,000

183,921

4.88%,

1/15/2028

164,000

157,180

5.25%,

1/15/2030

3,000

2,879

4.00%,

7/15/2030

163,000

145,061

3.88%,

2/15/2031

(b)

24,000

21,048

3.75%,

1/15/2032

568,000

485,241

6.13%,

3/15/2034

(a)

292,000

285,142

Upbound

Group,

Inc.

,

6.38%

,

2/15/2029

(a)

98,000

94,081

US

Acute

Care

Solutions

LLC

,

6.38%

,

3/01/2026

(a)

123,000

124,288

US

Foods,

Inc.

6.88%,

9/15/2028

(a)

442,000

446,537

4.75%,

2/15/2029

(a)

190,000

177,352

4.63%,

6/01/2030

(a)

90,000

81,951

7.25%,

1/15/2032

(a)

65,000

66,502

Valvoline,

Inc.

,

3.63%

,

6/15/2031

(a)

280,000

236,128

Varex

Imaging

Corp.

,

7.88%

,

10/15/2027

(a)

70,000

71,110

Vector

Group

Ltd.

,

5.75%

,

2/01/2029

(a)

1,000

909

VT

Topco,

Inc.

,

8.50%

,

8/15/2030

(a)

50,000

51,761

Wand

NewCo

3,

Inc.

,

7.63%

,

1/30/2032

(a)

165,000

168,095

WASH

Multifamily

Acquisition,

Inc.

,

5.75%

,

4/15/2026

(a)

8,000

7,760

Williams

Scotsman,

Inc.

6.13%,

6/15/2025

(a)

13,000

12,955

4.63%,

8/15/2028

(a)

80,000

73,911

7.38%,

10/01/2031

(a)

86,000

87,838

WW

International,

Inc.

,

4.50%

,

4/15/2029

(a)

79,000

32,957

ZipRecruiter,

Inc.

,

5.00%

,

1/15/2030

(a)(b)

280,000

246,504

38,676,164

Diversified

–

0.3%

Benteler

International

AG

,

10.50%

,

5/15/2028

(a)

254,000

270,423

Stena

International

SA

7.25%,

1/15/2031

(a)

435,000

436,297

7.63%,

2/15/2031

(a)

90,000

91,065

797,785

Energy

–

12.0%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp.

,

8.25%

,

2/15/2026

(a)

315,000

317,287

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp.

,

7.50%

,

5/01/2025

(a)

21,000

20,966

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp.

5.75%,

3/01/2027

(a)

120,000

117,913

5.75%,

1/15/2028

(a)

213,000

208,595

5.38%,

6/15/2029

(a)

169,000

161,323

6.63%,

2/01/2032

(a)

100,000

99,597

Antero

Resources

Corp.

7.63%,

2/01/2029

(a)

96,000

98,557

5.38%,

3/01/2030

(a)

167,000

158,772

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Energy

–

12.0%

(continued)

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp.

6.88%,

4/01/2027

(a)

86,000

85,837

6.25%,

4/01/2028

(a)

149,000

146,094

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.

7.00%,

11/01/2026

(a)

29,000

29,025

8.25%,

12/31/2028

(a)

108,000

110,100

5.88%,

6/30/2029

(a)

223,000

212,383

Athabasca

Oil

Corp.

,

9.75%

,

11/01/2026

(a)

71,000

74,447

Baytex

Energy

Corp.

8.50%,

4/30/2030

(a)

363,000

378,215

7.38%,

3/15/2032

(a)

60,000

60,694

Berry

Petroleum

Co.

LLC

,

7.00%

,

2/15/2026

(a)

220,000

218,023

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp.

7.63%,

12/15/2025

(a)

106,000

106,450

6.63%,

7/15/2026

(a)

20,000

19,948

Bristow

Group,

Inc.

,

6.88%

,

3/01/2028

(a)

116,000

112,540

Buckeye

Partners

LP

3.95%,

12/01/2026

127,000

119,566

4.13%,

12/01/2027

178,000

165,658

5.85%,

11/15/2043

10,000

8,353

5.60%,

10/15/2044

65,000

50,129

California

Resources

Corp.

,

7.13%

,

2/01/2026

(a)

527,000

530,528

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

11.00%,

4/15/2025

(a)

9,000

8,987

8.13%,

1/15/2027

(a)

70,400

67,272

9.75%,

7/15/2028

(a)

138,000

132,800

CGG

SA

,

8.75%

,

4/01/2027

(a)(b)

107,000

99,390

Chesapeake

Energy

Corp.

5.50%,

2/01/2026

(a)

378,000

374,074

5.88%,

2/01/2029

(a)

150,000

147,108

6.75%,

4/15/2029

(a)

285,000

284,866

Chord

Energy

Corp.

,

6.38%

,

6/01/2026

(a)

95,000

95,000

Civitas

Resources,

Inc.

5.00%,

10/15/2026

(a)

60,000

58,083

8.38%,

7/01/2028

(a)

512,000

534,250

8.63%,

11/01/2030

(a)

344,000

367,094

8.75%,

7/01/2031

(a)

283,000

300,692

CNX

Resources

Corp.

6.00%,

1/15/2029

(a)

9,000

8,739

7.38%,

1/15/2031

(a)(b)

172,000

174,291

7.25%,

3/01/2032

(a)

164,000

164,632

Comstock

Resources,

Inc.

6.75%,

3/01/2029

(a)

210,000

197,757

6.75%,

3/01/2029

(a)

500,000

476,766

5.88%,

1/15/2030

(a)

101,000

92,114

Conuma

Resources

Ltd.

,

13.13%

,

5/01/2028

(a)

55,000

55,485

Coronado

Finance

Pty

Ltd.

,

10.75%

,

5/15/2026

(a)

55,000

57,256

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

,

5.50%

,

6/15/2031

(a)

193,000

177,536

Crescent

Energy

Finance

LLC

9.25%,

2/15/2028

(a)

121,000

127,869

7.63%,

4/01/2032

(a)

121,000

121,494

136

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Energy

–

12.0%

(continued)

CVR

Energy,

Inc.

5.75%,

2/15/2028

(a)

334,000

310,582

8.50%,

1/15/2029

(a)

184,000

184,415

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp.

7.13%,

6/01/2028

(a)

93,000

90,890

8.63%,

3/15/2029

(a)

180,000

181,322

DT

Midstream,

Inc.

4.13%,

6/15/2029

(a)

105,000

95,117

4.38%,

6/15/2031

(a)

319,000

283,588

Encino

Acquisition

Partners

Holdings

LLC

8.50%,

5/01/2028

(a)

228,000

230,653

8.75%,

5/01/2031

(a)

56,000

57,092

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

,

5.75%

,

1/30/2028

(a)

10,000

10,192

Enerflex

Ltd.

,

9.00%

,

10/15/2027

(a)

225,000

230,442

EnQuest

PLC

,

11.63%

,

11/01/2027

(a)(b)

65,000

66,111

EQM

Midstream

Partners

LP

6.00%,

7/01/2025

(a)

460,000

459,454

4.13%,

12/01/2026

100,000

95,686

6.50%,

7/01/2027

(a)

153,000

153,466

5.50%,

7/15/2028

12,000

11,690

6.38%,

4/01/2029

(a)

92,000

91,302

7.50%,

6/01/2030

(a)

311,000

326,157

4.75%,

1/15/2031

(a)

6,000

5,486

6.50%,

7/15/2048

150,000

148,218

FORESEA

Holding

SA

,

7.50%

,

6/15/2030

(a)

55,000

51,062

FTAI

Infra

Escrow

Holdings

LLC

,

10.50%

,

6/01/2027

(a)

94,000

98,331

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp.

6.25%,

5/15/2026

181,000

179,568

8.00%,

1/15/2027

51,000

51,577

7.75%,

2/01/2028

220,000

219,909

8.88%,

4/15/2030

82,000

84,837

Global

Marine,

Inc.

,

7.00%

,

6/01/2028

25,000

23,119

Global

Partners

LP

/

GLP

Finance

Corp.

7.00%,

8/01/2027

68,000

67,506

6.88%,

1/15/2029

55,000

53,816

8.25%,

1/15/2032

(a)

98,000

100,509

Greenfire

Resources

Ltd.

,

12.00%

,

10/01/2028

(a)

155,000

164,360

Gulfport

Energy

Corp.

,

8.00%

,

5/17/2026

5,000

5,071

Harbour

Energy

PLC

,

5.50%

,

10/15/2026

(a)

220,000

215,692

Harvest

Midstream

I

LP

7.50%,

9/01/2028

(a)

164,000

164,410

7.50%,

5/15/2032

(a)

386,000

388,412

Helix

Energy

Solutions

Group,

Inc.

,

9.75%

,

3/01/2029

(a)

260,000

276,431

Hess

Midstream

Operations

LP

5.13%,

6/15/2028

(a)

211,000

201,918

4.25%,

2/15/2030

(a)

369,000

333,622

5.50%,

10/15/2030

(a)

27,000

25,834

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

6.25%,

11/01/2028

(a)

22,000

21,671

5.75%,

2/01/2029

(a)

15,000

14,450

6.00%,

4/15/2030

(a)

200,000

191,765

6.00%,

2/01/2031

(a)

96,000

91,950

6.25%,

4/15/2032

(a)

92,000

89,091

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Energy

–

12.0%

(continued)

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

(continued)

8.38%,

11/01/2033

(a)

45,000

48,289

Howard

Midstream

Energy

Partners

LLC

6.75%,

1/15/2027

(a)

2,000

1,976

8.88%,

7/15/2028

(a)

55,000

57,564

Ithaca

Energy

North

Sea

PLC

,

9.00%

,

7/15/2026

(a)

20,000

20,207

ITT

Holdings

LLC

,

6.50%

,

8/01/2029

(a)

299,000

270,364

KCA

Deutag

UK

Finance

PLC

,

9.88%

,

12/01/2025

(a)(b)

201,000

202,622

Kinetik

Holdings

LP

6.63%,

12/15/2028

(a)

75,000

75,447

5.88%,

6/15/2030

(a)

256,000

247,602

KLX

Energy

Services

Holdings,

Inc.

,

11.50%

,

11/01/2025

(a)

15,000

15,090

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp.

,

6.00%

,

8/01/2026

(a)

92,000

90,712

Martin

Midstream

Partners

LP

/

Martin

Midstream

Finance

Corp.

,

11.50%

,

2/15/2028

(a)

85,000

90,124

Matador

Resources

Co.

,

6.88%

,

4/15/2028

(a)

110,000

110,878

MEG

Energy

Corp.

,

5.88%

,

2/01/2029

(a)

257,000

248,557

Moss

Creek

Resources

Holdings,

Inc.

,

10.50%

,

5/15/2027

(a)

250,000

255,656

Murphy

Oil

Corp.

5.88%,

12/01/2027

106,000

104,884

6.38%,

7/15/2028

105,000

104,944

5.88%,

12/01/2042

45,000

39,606

Nabors

Industries

Ltd.

7.25%,

1/15/2026

(a)

199,000

197,072

7.50%,

1/15/2028

(a)(b)

8,000

7,583

Nabors

Industries,

Inc.

7.38%,

5/15/2027

(a)

9,000

8,919

9.13%,

1/31/2030

(a)

167,000

172,761

New

Fortress

Energy,

Inc.

6.75%,

9/15/2025

(a)

660,000

652,361

6.50%,

9/30/2026

(a)(b)

738,000

706,411

8.75%,

3/15/2029

(a)(b)

26,000

25,351

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp.

,

8.38%

,

2/15/2032

(a)

216,000

219,427

Nine

Energy

Service,

Inc.

,

13.00%

,

2/01/2028

105,000

82,698

Noble

Finance

II

LLC

,

8.00%

,

4/15/2030

(a)

105,000

108,370

Northern

Oil

&

Gas,

Inc.

8.13%,

3/01/2028

(a)

264,000

267,074

8.75%,

6/15/2031

(a)

180,000

189,620

Northriver

Midstream

Finance

LP

,

5.63%

,

2/15/2026

(a)

135,000

132,197

NuStar

Logistics

LP

5.75%,

10/01/2025

125,000

124,409

6.00%,

6/01/2026

195,000

193,787

5.63%,

4/28/2027

100,000

97,901

6.38%,

10/01/2030

150,000

148,541

Oceaneering

International,

Inc.

6.00%,

2/01/2028

222,000

213,502

6.00%,

2/01/2028

54,000

53,154

Parkland

Corp.

5.88%,

7/15/2027

(a)

151,000

147,552

137

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Energy

–

12.0%

(continued)

Parkland

Corp.

(continued)

4.50%,

10/01/2029

(a)

107,000

97,145

4.63%,

5/01/2030

(a)

214,000

193,535

PBF

Holding

Co.

LLC

/

PBF

Finance

Corp.

6.00%,

2/15/2028

547,000

533,576

7.88%,

9/15/2030

(a)

53,000

54,561

Permian

Resources

Operating

LLC

7.75%,

2/15/2026

(a)

12,000

12,109

8.00%,

4/15/2027

(a)

209,000

214,785

5.88%,

7/01/2029

(a)

115,000

111,996

9.88%,

7/15/2031

(a)

15,000

16,586

7.00%,

1/15/2032

(a)

111,000

113,305

Petrofac

Ltd.

,

9.75%

,

11/15/2026

(a)(d)

110,000

21,294

Prairie

Acquiror

LP

,

9.00%

,

8/01/2029

(a)

129,000

131,845

Precision

Drilling

Corp.

,

6.88%

,

1/15/2029

(a)

8,000

7,927

Range

Resources

Corp.

4.88%,

5/15/2025

25,000

24,775

8.25%,

1/15/2029

146,000

152,311

4.75%,

2/15/2030

(a)

42,000

38,717

Rockcliff

Energy

II

LLC

,

5.50%

,

10/15/2029

(a)

303,000

279,614

Rockies

Express

Pipeline

LLC

3.60%,

5/15/2025

(a)

147,000

142,583

4.80%,

5/15/2030

(a)

86,000

77,687

7.50%,

7/15/2038

(a)

15,000

15,367

6.88%,

4/15/2040

(a)

125,000

119,297

Seadrill

Finance

Ltd.

,

8.38%

,

8/01/2030

(a)

65,000

67,700

Sitio

Royalties

Operating

Partnership

LP

/

Sitio

Finance

Corp.

,

7.88%

,

11/01/2028

(a)

95,000

97,869

SM

Energy

Co.

5.63%,

6/01/2025

30,000

29,836

6.75%,

9/15/2026

189,000

188,496

6.63%,

1/15/2027

90,000

89,881

6.50%,

7/15/2028

10,000

9,926

Solaris

Midstream

Holdings

LLC

,

7.63%

,

4/01/2026

(a)

25,000

25,116

Southwestern

Energy

Co.

5.38%,

3/15/2030

158,000

150,007

4.75%,

2/01/2032

470,000

423,237

Strathcona

Resources

Ltd.

,

6.88%

,

8/01/2026

(a)(b)

105,000

103,988

Summit

Midstream

Holdings

LLC

/

Summit

Midstream

Finance

Corp.

,

9.50%

,

10/15/2026

(a)(f)

273,000

278,622

SunCoke

Energy,

Inc.

,

4.88%

,

6/30/2029

(a)

85,000

75,062

Sunnova

Energy

Corp.

5.88%,

9/01/2026

(a)

130,000

80,464

11.75%,

10/01/2028

(a)(b)

25,000

15,245

Sunoco

LP

7.00%,

5/01/2029

(a)

161,000

163,576

7.25%,

5/01/2032

(a)

114,000

115,818

Sunoco

LP

/

Sunoco

Finance

Corp.

6.00%,

4/15/2027

141,000

139,442

5.88%,

3/15/2028

150,000

146,958

7.00%,

9/15/2028

(a)

140,000

141,731

4.50%,

5/15/2029

168,000

153,461

4.50%,

4/30/2030

318,000

286,535

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

6.00%,

3/01/2027

(a)

55,000

53,623

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Energy

–

12.0%

(continued)

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

(continued)

5.50%,

1/15/2028

(a)

20,000

18,991

7.38%,

2/15/2029

(a)

60,000

60,124

6.00%,

12/31/2030

(a)

188,000

176,898

6.00%,

9/01/2031

(a)

333,000

310,030

Talos

Production,

Inc.

,

9.00%

,

2/01/2029

(a)

170,000

179,375

TechnipFMC

PLC

,

6.50%

,

2/01/2026

(a)

115,000

114,099

TerraForm

Power

Operating

LLC

5.00%,

1/31/2028

(a)

649,000

607,318

4.75%,

1/15/2030

(a)

163,000

145,463

Topaz

Solar

Farms

LLC

,

5.75%

,

9/30/2039

(a)

58,473

57,348

TransMontaigne

Partners

LP

/

TLP

Finance

Corp.

,

6.13%

,

2/15/2026

11,000

10,530

Transocean

Aquila

Ltd.

,

8.00%

,

9/30/2028

(a)

168,000

170,872

Transocean

Poseidon

Ltd.

,

6.88%

,

2/01/2027

(a)

25,650

25,571

Transocean

Titan

Financing

Ltd.

,

8.38%

,

2/01/2028

(a)

120,000

123,188

Transocean,

Inc.

8.00%,

2/01/2027

(a)

178,000

178,663

8.25%,

5/15/2029

(a)

170,000

169,210

8.75%,

2/15/2030

(a)

38,925

40,605

7.50%,

4/15/2031

10,000

9,045

8.50%,

5/15/2031

(a)

170,000

169,345

6.80%,

3/15/2038

130,000

105,300

9.35%,

12/15/2041

76,000

70,604

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp.

6.88%,

9/01/2027

164,000

163,623

7.13%,

3/15/2029

(a)

220,000

218,455

Valaris

Ltd.

,

8.38%

,

4/30/2030

(a)

365,000

375,036

Venture

Global

Calcasieu

Pass

LLC

6.25%,

1/15/2030

(a)

5,000

4,950

4.13%,

8/15/2031

(a)

364,000

318,691

3.88%,

11/01/2033

(a)

470,000

385,379

Venture

Global

LNG,

Inc.

8.13%,

6/01/2028

(a)

898,000

918,636

9.50%,

2/01/2029

(a)

585,000

628,969

8.38%,

6/01/2031

(a)

517,000

530,738

9.88%,

2/01/2032

(a)

375,000

399,962

Vermilion

Energy,

Inc.

,

6.88%

,

5/01/2030

(a)

85,000

82,687

Viper

Energy,

Inc.

5.38%,

11/01/2027

(a)

25,000

24,390

7.38%,

11/01/2031

(a)

75,000

77,303

Vital

Energy,

Inc.

7.75%,

7/31/2029

(a)

60,000

60,371

7.88%,

4/15/2032

(a)

121,000

122,823

W&T

Offshore,

Inc.

,

11.75%

,

2/01/2026

(a)

80,000

81,604

Warrior

Met

Coal,

Inc.

,

7.88%

,

12/01/2028

(a)

66,000

66,965

Weatherford

International

Ltd.

,

8.63%

,

4/30/2030

(a)

351,000

364,284

Welltec

International

ApS

,

8.25%

,

10/15/2026

(a)

10,000

10,205

32,387,799

Financial

–

12.1%

Acrisure

LLC

/

Acrisure

Finance,

Inc.

10.13%,

8/01/2026

(a)

156,000

161,203

8.25%,

2/01/2029

(a)

207,000

205,552

138

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

Acrisure

LLC

/

Acrisure

Finance,

Inc.

(continued)

4.25%,

2/15/2029

(a)

5,000

4,485

6.00%,

8/01/2029

(a)

108,000

97,892

AG

Issuer

LLC

,

6.25%

,

3/01/2028

(a)

367,000

355,237

AG

TTMT

Escrow

Issuer

LLC

,

8.63%

,

9/30/2027

(a)

223,000

229,692

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co.-Issuer

4.25%,

10/15/2027

(a)

126,000

117,555

6.75%,

10/15/2027

(a)

231,000

226,751

6.75%,

4/15/2028

(a)

271,000

270,803

5.88%,

11/01/2029

(a)

176,000

162,061

7.00%,

1/15/2031

(a)

105,000

105,388

Ally

Financial,

Inc.

5.75%,

11/20/2025

212,000

210,273

6.70%,

2/14/2033

101,000

98,972

AmWINS

Group,

Inc.

,

4.88%

,

6/30/2029

(a)

118,000

107,260

Anywhere

Real

Estate

Group

LLC

/

Anywhere

Co.-Issuer

Corp.

,

7.00%

,

4/15/2030

(a)

5,000

4,385

Apollo

Commercial

Real

Estate

Finance,

Inc.

,

4.63%

,

6/15/2029

(a)

64,000

52,923

Ardonagh

Finco

Ltd.

,

7.75%

,

2/15/2031

(a)

120,000

117,900

Ardonagh

Group

Finance

Ltd.

,

8.88%

,

2/15/2032

(a)

500,000

486,981

Aretec

Group,

Inc.

7.50%,

4/01/2029

(a)

165,000

155,583

10.00%,

8/15/2030

(a)

155,000

168,397

Armor

Holdco,

Inc.

,

8.50%

,

11/15/2029

(a)

5,000

4,651

Assurant,

Inc.

,

7.00%

,

3/27/2048

15,000

14,977

AssuredPartners,

Inc.

5.63%,

1/15/2029

(a)

53,000

48,330

7.50%,

2/15/2032

(a)

30,000

29,227

Banc

of

California

,

3.25%

,

5/01/2031

35,000

32,060

Blackstone

Mortgage

Trust,

Inc.

,

3.75%

,

1/15/2027

(a)

136,000

121,910

Brandywine

Operating

Partnership

LP

3.95%,

11/15/2027

(b)

450,000

402,800

4.55%,

10/01/2029

(b)

5,000

4,293

Bread

Financial

Holdings,

Inc.

,

9.75%

,

3/15/2029

(a)

369,000

383,815

Brightsphere

Investment

Group,

Inc.

,

4.80%

,

7/27/2026

19,000

18,275

Broadstreet

Partners,

Inc.

,

5.88%

,

4/15/2029

(a)

126,000

114,869

Brookfield

Property

REIT,

Inc.

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LLC

5.75%,

5/15/2026

(a)

200,000

193,561

4.50%,

4/01/2027

(a)

271,000

242,480

Burford

Capital

Global

Finance

LLC

6.25%,

4/15/2028

(a)

135,000

129,966

6.88%,

4/15/2030

(a)

110,000

106,595

9.25%,

7/01/2031

(a)

290,000

302,429

Castlelake

Aviation

Finance

DAC

,

5.00%

,

4/15/2027

(a)

22,000

21,167

Cobra

Acquisitionco

LLC

,

6.38%

,

11/01/2029

(a)

15,000

12,424

Coinbase

Global,

Inc.

3.38%,

10/01/2028

(a)

210,000

176,202

3.63%,

10/01/2031

(a)

90,000

70,384

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

Compass

Group

Diversified

Holdings

LLC

5.25%,

4/15/2029

(a)

171,000

159,836

5.00%,

1/15/2032

(a)(b)

11,000

9,735

Constellation

Insurance,

Inc.

,

6.80%

,

1/24/2030

(a)

31,000

29,825

Credit

Acceptance

Corp.

,

9.25%

,

12/15/2028

(a)

146,000

154,779

CTR

Partnership

LP

/

CareTrust

Capital

Corp.

,

3.88%

,

6/30/2028

(a)

140,000

126,669

Curo

Group

Holdings

Corp.

7.50%,

8/01/2028

(a)(d)

35,000

1,476

7.50%,

8/01/2028

(a)(d)

7,000

1,674

Cushman

&

Wakefield

US

Borrower

LLC

6.75%,

5/15/2028

(a)

160,000

157,758

8.88%,

9/01/2031

(a)(b)

208,000

216,159

Diversified

Healthcare

Trust

9.75%,

6/15/2025

196,000

196,318

1/15/2026

(a)(g)

30,000

25,806

4.75%,

2/15/2028

157,000

123,496

4.38%,

3/01/2031

45,000

32,584

Dresdner

Funding

Trust

I

,

8.15%

,

6/30/2031

(a)

110,000

117,753

Enova

International,

Inc.

8.50%,

9/15/2025

(a)

53,000

52,881

11.25%,

12/15/2028

(a)

154,000

163,629

Finance

of

America

Funding

LLC

,

7.88%

,

11/15/2025

(a)

140,000

110,600

Freedom

Mortgage

Corp.

7.63%,

5/01/2026

(a)

485,000

482,991

6.63%,

1/15/2027

(a)

65,000

62,558

12.00%,

10/01/2028

(a)

309,000

331,614

12.25%,

10/01/2030

(a)

65,000

70,559

Genworth

Holdings,

Inc.

,

6.50%

,

6/15/2034

115,000

107,063

GGAM

Finance

Ltd.

7.75%,

5/15/2026

(a)

140,000

142,432

8.00%,

2/15/2027

(a)

40,000

41,078

8.00%,

6/15/2028

(a)

125,000

128,726

Global

Atlantic

Finance

Co.

,

4.70%

,

10/15/2051

(a)

274,000

242,123

Global

NET

Lease,

Inc.

/

Global

NET

Lease

Operating

Partnership

LP

,

3.75%

,

12/15/2027

(a)

19,000

16,168

goeasy

Ltd.

4.38%,

5/01/2026

(a)

35,000

33,622

9.25%,

12/01/2028

(a)

3,000

3,172

7.63%,

7/01/2029

(a)

405,000

405,297

Greystar

Real

Estate

Partners

LLC

,

7.75%

,

9/01/2030

(a)

55,000

56,883

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

6.00%,

4/15/2025

(a)

163,000

162,102

3.38%,

6/15/2026

(a)

69,000

64,356

8.00%,

6/15/2027

(a)(b)

70,000

71,819

3.75%,

9/15/2030

(a)(b)

209,000

173,086

Hightower

Holding

LLC

,

6.75%

,

4/15/2029

(a)

66,000

61,959

Howard

Hughes

Corp.

(The)

5.38%,

8/01/2028

(a)

172,000

162,448

4.13%,

2/01/2029

(a)

130,000

115,376

4.38%,

2/01/2031

(a)

129,000

109,621

139

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

Howden

UK

Refinance

PLC

/

Howden

UK

Refinance

2

PLC

/

Howden

US

Refinance

LLC

,

8.13%

,

2/15/2032

(a)

230,000

226,833

HUB

International

Ltd.

5.63%,

12/01/2029

(a)

369,000

339,785

7.25%,

6/15/2030

(a)

250,000

253,948

7.38%,

1/31/2032

(a)

425,000

422,495

Hudson

Pacific

Properties

LP

3.95%,

11/01/2027

165,000

145,742

5.95%,

2/15/2028

150,000

137,083

4.65%,

4/01/2029

(b)

210,000

176,984

3.25%,

1/15/2030

15,000

11,387

Hunt

Cos.,

Inc.

,

5.25%

,

4/15/2029

(a)

75,000

67,248

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp.

6.38%,

12/15/2025

289,000

284,027

6.25%,

5/15/2026

400,000

389,198

5.25%,

5/15/2027

310,000

284,707

9.75%,

1/15/2029

(a)

258,000

267,683

4.38%,

2/01/2029

160,000

134,472

Intesa

Sanpaolo

SpA

5.71%,

1/15/2026

(a)

311,000

306,553

4.20%,

6/01/2032

(a)

153,000

125,289

4.95%,

6/01/2042

(a)

120,000

86,293

Iron

Mountain

Information

Management

Services,

Inc.

,

5.00%

,

7/15/2032

(a)

135,000

119,611

Iron

Mountain,

Inc.

4.88%,

9/15/2027

(a)

316,000

301,460

5.25%,

3/15/2028

(a)

205,000

196,233

5.00%,

7/15/2028

(a)

92,000

86,619

7.00%,

2/15/2029

(a)

431,000

433,337

4.88%,

9/15/2029

(a)

6,000

5,542

5.25%,

7/15/2030

(a)

105,000

97,533

4.50%,

2/15/2031

(a)

285,000

251,456

5.63%,

7/15/2032

(a)

603,000

557,030

Jane

Street

Group

/

JSG

Finance,

Inc.

4.50%,

11/15/2029

(a)(b)

115,000

104,650

7.13%,

4/30/2031

(a)

301,000

303,777

Jefferies

Finance

LLC

/

JFIN

Co.-Issuer

Corp.

,

5.00%

,

8/15/2028

(a)

369,000

332,020

Jefferson

Capital

Holdings

LLC

6.00%,

8/15/2026

(a)

18,000

17,673

9.50%,

2/15/2029

(a)

95,000

96,652

Jones

Deslauriers

Insurance

Management,

Inc.

8.50%,

3/15/2030

(a)

235,000

241,664

10.50%,

12/15/2030

(a)

15,000

15,890

Kennedy-Wilson,

Inc.

4.75%,

3/01/2029

180,000

148,847

4.75%,

2/01/2030

51,000

40,413

5.00%,

3/01/2031

216,000

167,786

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

5.25%,

10/01/2025

(a)

210,000

206,329

4.25%,

2/01/2027

(a)

4,000

3,706

4.75%,

6/15/2029

(a)

5,000

4,458

LD

Holdings

Group

LLC

6.50%,

11/01/2025

(a)

105,000

99,607

6.13%,

4/01/2028

(a)

43,000

32,574

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

LFS

Topco

LLC

,

5.88%

,

10/15/2026

(a)

15,000

13,896

Liberty

Mutual

Group,

Inc.

4.13%,

12/15/2051

(a)

80,000

72,850

4.30%,

2/01/2061

(a)

341,000

209,689

Macquarie

Airfinance

Holdings

Ltd.

8.38%,

5/01/2028

(a)

45,000

47,309

8.13%,

3/30/2029

(a)

365,000

382,302

Midcap

Financial

Issuer

Trust

6.50%,

5/01/2028

(a)

371,000

335,842

5.63%,

1/15/2030

(a)

1,000

841

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

5.00%,

10/15/2027

(b)

281,000

230,351

4.63%,

8/01/2029

170,000

127,344

3.50%,

3/15/2031

301,000

201,823

Nationstar

Mortgage

Holdings,

Inc.

5.00%,

2/01/2026

(a)

95,000

92,409

6.00%,

1/15/2027

(a)

98,000

96,072

5.50%,

8/15/2028

(a)

5,000

4,703

5.13%,

12/15/2030

(a)

5,000

4,489

5.75%,

11/15/2031

(a)

253,000

230,475

7.13%,

2/01/2032

(a)

102,000

100,560

Navient

Corp.

6.75%,

6/25/2025

3,000

2,993

6.75%,

6/15/2026

9,000

8,981

5.00%,

3/15/2027

(b)

184,000

173,646

5.50%,

3/15/2029

155,000

138,920

9.38%,

7/25/2030

164,000

168,945

11.50%,

3/15/2031

94,000

102,785

5.63%,

8/01/2033

104,000

82,695

Necessity

Retail

REIT,

Inc.

(The)

/

American

Finance

Operating

Partner

LP

,

4.50%

,

9/30/2028

(a)

60,000

51,182

Office

Properties

Income

Trust

2.65%,

6/15/2026

65,000

36,977

2.40%,

2/01/2027

70,000

33,889

3.45%,

10/15/2031

69,000

28,515

OneMain

Finance

Corp.

7.13%,

3/15/2026

126,000

127,169

3.50%,

1/15/2027

192,000

176,863

6.63%,

1/15/2028

(b)

114,000

113,695

3.88%,

9/15/2028

150,000

132,082

9.00%,

1/15/2029

16,000

16,810

5.38%,

11/15/2029

149,000

137,762

7.88%,

3/15/2030

566,000

577,635

4.00%,

9/15/2030

130,000

109,435

Osaic

Holdings,

Inc.

,

10.75%

,

8/01/2027

(a)

10,000

10,353

Oxford

Finance

LLC

/

Oxford

Finance

Co.-

Issuer

II,

Inc.

,

6.38%

,

2/01/2027

(a)

435,000

407,531

Panther

Escrow

Issuer

LLC

,

7.13%

,

6/01/2031

(a)

650,000

653,384

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer

7.50%,

6/01/2025

(a)

7,000

7,004

5.88%,

10/01/2028

(a)

169,000

163,442

4.88%,

5/15/2029

(a)

589,000

539,307

PennyMac

Financial

Services,

Inc.

5.38%,

10/15/2025

(a)

146,000

144,236

140

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

PennyMac

Financial

Services,

Inc.

(continued)

4.25%,

2/15/2029

(a)

104,000

92,370

5.75%,

9/15/2031

(a)

252,000

228,908

PHH

Mortgage

Corp.

,

7.88%

,

3/15/2026

(a)

10,000

9,606

PRA

Group,

Inc.

7.38%,

9/01/2025

(a)

5,000

4,982

8.38%,

2/01/2028

(a)

191,000

186,550

5.00%,

10/01/2029

(a)

45,000

37,235

Provident

Financing

Trust

I

,

7.41%

,

3/15/2038

20,000

21,619

Provident

Funding

Associates

LP

/

PFG

Finance

Corp.

,

6.38%

,

6/15/2025

(a)

93,000

89,554

Realogy

Group

LLC

/

Realogy

Co.-Issuer

Corp.

5.75%,

1/15/2029

(a)(b)

105,000

73,267

5.25%,

4/15/2030

(a)(b)

7,000

4,694

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.

4.75%,

10/15/2027

45,000

42,734

7.25%,

7/15/2028

(a)

470,000

477,613

4.50%,

2/15/2029

(a)

145,000

133,548

6.50%,

4/01/2032

(a)

183,000

179,426

Rithm

Capital

Corp.

6.25%,

10/15/2025

(a)

63,000

62,393

8.00%,

4/01/2029

(a)

170,000

166,244

RLJ

Lodging

Trust

LP

3.75%,

7/01/2026

(a)

395,000

372,253

4.00%,

9/15/2029

(a)

65,000

56,339

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co.-

Issuer,

Inc.

2.88%,

10/15/2026

(a)

3,000

2,756

3.63%,

3/01/2029

(a)(b)

82,000

72,277

3.88%,

3/01/2031

(a)

208,000

177,007

4.00%,

10/15/2033

(a)

567,000

462,854

Ryan

Specialty

LLC

,

4.38%

,

2/01/2030

(a)

70,000

64,242

Sagicor

Financial

Co.

Ltd.

,

5.30%

,

5/13/2028

(a)

(b)

6,000

5,745

SBA

Communications

Corp.

3.88%,

2/15/2027

378,000

355,097

3.13%,

2/01/2029

310,000

269,974

Service

Properties

Trust

7.50%,

9/15/2025

220,000

221,865

5.25%,

2/15/2026

125,000

120,192

4.75%,

10/01/2026

63,000

58,635

4.95%,

2/15/2027

(b)

22,000

20,263

5.50%,

12/15/2027

17,000

16,077

3.95%,

1/15/2028

10,000

8,550

4.95%,

10/01/2029

85,000

69,505

4.38%,

2/15/2030

225,000

171,380

8.63%,

11/15/2031

(a)

10,000

10,556

SLM

Corp.

4.20%,

10/29/2025

108,000

104,457

3.13%,

11/02/2026

108,000

100,175

Starwood

Property

Trust,

Inc.

3.63%,

7/15/2026

(a)

136,000

125,947

4.38%,

1/15/2027

(a)

182,000

168,758

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Financial

–

12.1%

(continued)

StoneX

Group,

Inc.

,

8.63%

,

6/15/2025

(a)

110,000

110,346

Synchrony

Financial

,

7.25%

,

2/02/2033

57,000

55,830

Texas

Capital

Bancshares,

Inc.

,

4.00%

,

5/06/2031

95,000

84,901

UniCredit

SpA

5.86%,

6/19/2032

(a)

592,000

572,977

7.30%,

4/02/2034

(a)

259,000

261,546

5.46%,

6/30/2035

(a)

350,000

321,722

United

Wholesale

Mortgage

LLC

5.50%,

11/15/2025

(a)

300,000

295,411

5.75%,

6/15/2027

(a)

7,000

6,722

5.50%,

4/15/2029

(a)

270,000

251,008

Uniti

Group

LP

/

Uniti

Fiber

Holdings,

Inc.

/

CSL

Capital

LLC

,

6.00%

,

1/15/2030

(a)

242,000

188,550

Uniti

Group

LP

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC

10.50%,

2/15/2028

(a)

300,000

311,297

4.75%,

4/15/2028

(a)

89,000

78,185

6.50%,

2/15/2029

(a)

262,000

210,331

Valley

National

Bancorp

3.00%,

6/15/2031

13,000

9,697

6.25%,

9/30/2032

5,000

4,227

Vornado

Realty

LP

2.15%,

6/01/2026

15,000

13,611

3.40%,

6/01/2031

70,000

54,454

Western

Alliance

Bancorp

,

3.00%

,

6/15/2031

14,000

11,953

Western

Alliance

Bank

,

5.25%

,

6/01/2030

10,000

9,571

Wilton

RE

Ltd.

,

6.00%

(a)(e)

5,000

4,432

World

Acceptance

Corp.

,

7.00%

,

11/01/2026

(a)

11,000

10,220

XHR

LP

6.38%,

8/15/2025

(a)

384,000

383,428

4.88%,

6/01/2029

(a)

40,000

36,420

32,450,010

Industrial

–

10.9%

AAR

Escrow

Issuer

LLC

,

6.75%

,

3/15/2029

(a)

120,000

120,959

Acproducts

Holdings,

Inc.

,

6.38%

,

5/15/2029

(a)

110,000

76,627

Advanced

Drainage

Systems,

Inc.

5.00%,

9/30/2027

(a)

73,000

70,713

6.38%,

6/15/2030

(a)

4,000

3,981

AECOM

,

5.13%

,

3/15/2027

595,000

577,919

AerCap

Global

Aviation

Trust

,

6.50%

,

6/15/2045

(a)

4,000

3,975

Ameritex

Holdco

Intermediate

LLC

,

10.25%

,

10/15/2028

(a)

250,000

263,260

Amsted

Industries,

Inc.

,

4.63%

,

5/15/2030

(a)

25,000

22,435

Arcosa,

Inc.

,

4.38%

,

4/15/2029

(a)

25,000

22,837

ARD

Finance

SA

,

6.50%

,

6/30/2027

(a)(c)

210,000

57,585

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

6.00%,

6/15/2027

(a)

24,000

23,287

3.25%,

9/01/2028

(a)

100,000

86,573

4.00%,

9/01/2029

(a)

300,000

247,523

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA,

Inc.

5.25%,

4/30/2025

(a)

292,000

289,283

4.13%,

8/15/2026

(a)

224,000

186,852

5.25%,

8/15/2027

(a)

244,000

124,395

5.25%,

8/15/2027

(a)

176,000

89,767

141

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Industrial

–

10.9%

(continued)

Artera

Services

LLC

,

8.50%

,

2/15/2031

(a)

6,000

6,139

Atkore,

Inc.

,

4.25%

,

6/01/2031

(a)

40,000

35,105

ATS

Corp.

,

4.13%

,

12/15/2028

(a)

65,000

58,467

Ball

Corp.

6.88%,

3/15/2028

160,000

162,636

6.00%,

6/15/2029

7,000

6,963

2.88%,

8/15/2030

19,000

15,876

3.13%,

9/15/2031

155,000

128,669

Berry

Global,

Inc.

4.50%,

2/15/2026

(a)

80,000

77,911

5.63%,

7/15/2027

(a)

22,000

21,467

Boise

Cascade

Co.

,

4.88%

,

7/01/2030

(a)

25,000

22,920

Bombardier,

Inc.

7.88%,

4/15/2027

(a)

5,000

4,980

6.00%,

2/15/2028

(a)

4,000

3,897

7.50%,

2/01/2029

(a)(b)

98,000

100,228

8.75%,

11/15/2030

(a)

29,000

30,844

7.25%,

7/01/2031

(a)(b)

1,000

1,003

7.45%,

5/01/2034

(a)

85,000

92,350

Brand

Industrial

Services,

Inc.

,

10.38%

,

8/01/2030

(a)

433,000

464,902

Brightline

East

LLC

,

11.00%

,

1/31/2030

(a)

294,492

291,751

Brundage-Bone

Concrete

Pumping

Holdings,

Inc.

,

6.00%

,

2/01/2026

(a)

54,000

53,261

Builders

FirstSource,

Inc.

4.25%,

2/01/2032

(a)

235,000

204,792

6.38%,

6/15/2032

(a)

154,000

152,682

6.38%,

3/01/2034

(a)

205,000

201,184

BWX

Technologies,

Inc.

4.13%,

6/30/2028

(a)

32,000

29,229

4.13%,

4/15/2029

(a)

86,000

78,326

Calderys

Financing

LLC

,

11.25%

,

6/01/2028

(a)

100,000

105,890

Camelot

Return

Merger

Sub,

Inc.

,

8.75%

,

8/01/2028

(a)

440,000

433,073

Cargo

Aircraft

Management,

Inc.

,

4.75%

,

2/01/2028

(a)

12,000

10,846

Carriage

Purchaser,

Inc.

,

7.88%

,

10/15/2029

(a)

15,000

13,287

Cascades,

Inc.

/

Cascades

USA,

Inc.

5.13%,

1/15/2026

(a)

31,000

30,146

5.38%,

1/15/2028

(a)

15,000

14,113

Chart

Industries,

Inc.

7.50%,

1/01/2030

(a)

369,000

377,650

9.50%,

1/01/2031

(a)

73,000

78,406

Clean

Harbors,

Inc.

4.88%,

7/15/2027

(a)

2,000

1,927

5.13%,

7/15/2029

(a)

225,000

214,718

6.38%,

2/01/2031

(a)

105,000

103,995

Clearwater

Paper

Corp.

,

4.75%

,

8/15/2028

(a)

45,000

40,872

Clydesdale

Acquisition

Holdings,

Inc.

6.63%,

4/15/2029

(a)

122,000

121,695

8.75%,

4/15/2030

(a)

233,000

225,179

Coherent

Corp.

,

5.00%

,

12/15/2029

(a)

92,000

84,839

Cornerstone

Building

Brands,

Inc.

,

6.13%

,

1/15/2029

(a)

8,000

6,768

Covanta

Holding

Corp.

4.88%,

12/01/2029

(a)

210,000

184,068

5.00%,

9/01/2030

10,000

8,683

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Industrial

–

10.9%

(continued)

CP

Atlas

Buyer,

Inc.

,

7.00%

,

12/01/2028

(a)

163,000

146,883

Crown

Americas

LLC

,

5.25%

,

4/01/2030

8,000

7,627

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

V

,

4.25%

,

9/30/2026

70,000

67,103

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

VI

,

4.75%

,

2/01/2026

109,000

106,772

Crown

Cork

&

Seal

Co.,

Inc.

,

7.38%

,

12/15/2026

40,000

41,135

Danaos

Corp.

,

8.50%

,

3/01/2028

(a)

75,000

76,215

Dycom

Industries,

Inc.

,

4.50%

,

4/15/2029

(a)

65,000

59,797

Eco

Material

Technologies,

Inc.

,

7.88%

,

1/31/2027

(a)

257,000

258,896

Emrld

Borrower

LP

/

Emerald

Co.-Issuer,

Inc.

,

6.63%

,

12/15/2030

(a)

511,000

507,391

Energizer

Holdings,

Inc.

6.50%,

12/31/2027

(a)

25,000

24,759

4.75%,

6/15/2028

(a)

158,000

143,974

4.38%,

3/31/2029

(a)

159,000

140,396

EnerSys

4.38%,

12/15/2027

(a)

13,000

12,173

6.63%,

1/15/2032

(a)

26,000

25,856

Enpro,

Inc.

,

5.75%

,

10/15/2026

18,000

17,784

Enviri

Corp.

,

5.75%

,

7/31/2027

(a)

10,000

9,361

Equipmentshare.com,

Inc.

9.00%,

5/15/2028

(a)

256,000

262,800

8.63%,

5/15/2032

(a)

28,000

28,570

Esab

Corp.

,

6.25%

,

4/15/2029

(a)

408,000

406,607

F-Brasile

SpA

/

F-Brasile

US

LLC

,

Series

XR

,

7.38%

,

8/15/2026

(a)

60,000

60,321

First

Student

Bidco,

Inc.

/

First

Transit

Parent,

Inc.

,

4.00%

,

7/31/2029

(a)

4,000

3,514

Fluor

Corp.

,

4.25%

,

9/15/2028

10,000

9,324

Fortress

Transportation

and

Infrastructure

Investors

LLC

9.75%,

8/01/2027

(a)

84,000

86,822

5.50%,

5/01/2028

(a)

39,000

37,459

7.88%,

12/01/2030

(a)

10,000

10,408

FXI

Holdings,

Inc.

12.25%,

11/15/2026

(a)

62,000

61,671

12.25%,

11/15/2026

(a)

80,000

79,282

Gates

Global

LLC

/

Gates

Corp.

,

6.25%

,

1/15/2026

(a)

49,000

49,010

GFL

Environmental,

Inc.

4.25%,

6/01/2025

(a)

143,000

141,079

3.75%,

8/01/2025

(a)

138,000

134,316

5.13%,

12/15/2026

(a)

409,000

399,496

4.00%,

8/01/2028

(a)

600,000

544,628

3.50%,

9/01/2028

(a)

112,000

100,487

4.75%,

6/15/2029

(a)

168,000

155,018

4.38%,

8/15/2029

(a)

138,000

124,511

6.75%,

1/15/2031

(a)

5,000

5,044

Global

Infrastructure

Solutions,

Inc.

5.63%,

6/01/2029

(a)

105,000

94,440

7.50%,

4/15/2032

(a)

255,000

243,244

GN

Bondco

LLC

,

9.50%

,

10/15/2031

(a)(b)

475,000

456,009

GrafTech

Finance,

Inc.

,

4.63%

,

12/15/2028

(a)

65,000

41,939

GrafTech

Global

Enterprises,

Inc.

,

9.88%

,

12/15/2028

(a)(b)

95,000

71,533

Graphic

Packaging

International

LLC

4.75%,

7/15/2027

(a)

115,000

110,212

142

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Industrial

–

10.9%

(continued)

Graphic

Packaging

International

LLC

(continued)

3.50%,

3/15/2028

(a)

91,000

82,724

3.50%,

3/01/2029

(a)

23,000

20,344

3.75%,

2/01/2030

(a)

140,000

121,995

Great

Lakes

Dredge

&

Dock

Corp.

,

5.25%

,

6/01/2029

(a)(b)

10,000

8,422

Griffon

Corp.

,

5.75%

,

3/01/2028

394,000

379,395

Hillenbrand,

Inc.

5.75%,

6/15/2025

2,000

1,989

5.00%,

9/15/2026

66,000

64,559

6.25%,

2/15/2029

251,000

249,089

3.75%,

3/01/2031

10,000

8,510

Imola

Merger

Corp.

,

4.75%

,

5/15/2029

(a)

548,000

504,542

Intelligent

Packaging

Ltd.

Finco,

Inc.

/

Intelligent

Packaging

Ltd.

Co.-Issuer

LLC

,

6.00%

,

9/15/2028

(a)

1,000

955

Iris

Holdings,

Inc.

,

10.00%

,

12/15/2028

(a)

75,000

66,538

James

Hardie

International

Finance

DAC

,

5.00%

,

1/15/2028

(a)

55,000

52,843

JELD-WEN,

Inc.

4.63%,

12/15/2025

(a)

6,000

5,853

4.88%,

12/15/2027

(a)

31,000

29,422

Knife

River

Corp.

,

7.75%

,

5/01/2031

(a)

87,000

90,461

LABL,

Inc.

6.75%,

7/15/2026

(a)

180,000

177,664

10.50%,

7/15/2027

(a)

300,000

294,783

5.88%,

11/01/2028

(a)

200,000

178,263

9.50%,

11/01/2028

(a)

30,000

30,013

8.25%,

11/01/2029

(a)

190,000

161,064

Likewize

Corp.

,

9.75%

,

10/15/2025

(a)

15,000

15,159

Louisiana-Pacific

Corp.

,

3.63%

,

3/15/2029

(a)

5,000

4,475

LSB

Industries,

Inc.

,

6.25%

,

10/15/2028

(a)

15,000

14,218

Madison

IAQ

LLC

4.13%,

6/30/2028

(a)

106,000

98,313

5.88%,

6/30/2029

(a)

213,000

197,781

Masonite

International

Corp.

,

3.50%

,

2/15/2030

(a)

55,000

48,177

Mauser

Packaging

Solutions

Holding

Co.

7.88%,

4/15/2027

(a)

555,000

564,891

9.25%,

4/15/2027

(a)

21,000

20,611

Maxim

Crane

Works

Holdings

Capital

LLC

,

11.50%

,

9/01/2028

(a)

15,000

15,883

Miter

Brands

Acquisition

Holdco,

Inc.

/

MIWID

Borrower

LLC

,

6.75%

,

4/01/2032

(a)

121,000

120,127

MIWD

Holdco

II

LLC

/

MIWD

Finance

Corp.

,

5.50%

,

2/01/2030

(a)

11,000

9,953

Moog,

Inc.

,

4.25%

,

12/15/2027

(a)

26,000

24,305

Mueller

Water

Products,

Inc.

,

4.00%

,

6/15/2029

(a)

95,000

85,975

NAC

Aviation

29

DAC

,

4.75%

,

6/30/2026

98,796

93,685

New

Enterprise

Stone

&

Lime

Co.,

Inc.

5.25%,

7/15/2028

(a)

64,000

60,119

9.75%,

7/15/2028

(a)

170,000

173,846

OI

European

Group

BV

,

4.75%

,

2/15/2030

(a)

4,000

3,658

Oscar

AcquisitionCo

LLC

/

Oscar

Finance,

Inc.

,

9.50%

,

4/15/2030

(a)

203,000

195,689

OT

Merger

Corp.

,

7.88%

,

10/15/2029

(a)

73,000

47,570

Owens-Brockway

Glass

Container,

Inc.

6.38%,

8/15/2025

(a)

34,000

34,154

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Industrial

–

10.9%

(continued)

Owens-Brockway

Glass

Container,

Inc.

(continued)

6.63%,

5/13/2027

(a)

82,000

81,934

7.25%,

5/15/2031

(a)

135,000

135,228

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer,

Inc.

,

4.38%

,

10/15/2028

(a)

214,000

197,284

Pactiv

Evergreen

Group

Issuer,

Inc.

/

Pactiv

Evergreen

Group

Issuer

LLC

,

4.00%

,

10/15/2027

(a)

97,000

90,130

Pactiv

LLC

7.95%,

12/15/2025

32,000

32,850

8.38%,

4/15/2027

5,000

5,186

Park-Ohio

Industries,

Inc.

,

6.63%

,

4/15/2027

71,000

67,474

Railworks

Holdings

LP

/

Railworks

Rally,

Inc.

,

8.25%

,

11/15/2028

(a)

20,000

20,020

Roller

Bearing

Co.

of

America,

Inc.

,

4.38%

,

10/15/2029

(a)

2,000

1,809

Sealed

Air

Corp.

5.50%,

9/15/2025

(a)

5,000

4,966

4.00%,

12/01/2027

(a)

123,000

113,745

6.13%,

2/01/2028

(a)

143,000

141,306

5.00%,

4/15/2029

(a)(b)

155,000

145,772

6.88%,

7/15/2033

(a)

93,000

93,650

Sealed

Air

Corp./Sealed

Air

Corp.

US

,

7.25%

,

2/15/2031

(a)(b)

10,000

10,171

Seaspan

Corp.

,

5.50%

,

8/01/2029

(a)

287,000

246,525

Sensata

Technologies

BV

5.00%,

10/01/2025

(a)

120,000

118,467

4.00%,

4/15/2029

(a)

160,000

143,196

5.88%,

9/01/2030

(a)

204,000

196,804

Sensata

Technologies,

Inc.

4.38%,

2/15/2030

(a)

162,000

145,087

3.75%,

2/15/2031

(a)

52,000

43,990

Silgan

Holdings,

Inc.

,

4.13%

,

2/01/2028

173,000

161,138

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(a)

349,000

337,721

8.88%,

11/15/2031

(a)

555,000

584,304

Spirit

AeroSystems,

Inc.

4.60%,

6/15/2028

11,000

10,129

9.38%,

11/30/2029

(a)

374,000

404,872

9.75%,

11/15/2030

(a)

505,000

558,721

SPX

Flow,

Inc.

,

8.75%

,

4/01/2030

(a)

73,000

74,844

Standard

Industries,

Inc.

5.00%,

2/15/2027

(a)

138,000

132,859

4.75%,

1/15/2028

(a)

265,000

249,569

4.38%,

7/15/2030

(a)

578,000

512,135

3.38%,

1/15/2031

(a)

325,000

267,608

Stericycle,

Inc.

,

3.88%

,

1/15/2029

(a)

15,000

13,397

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

5.25%,

1/15/2029

(a)

115,000

110,533

7.25%,

1/15/2031

(a)

90,000

92,445

143

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Industrial

–

10.9%

(continued)

Terex

Corp.

,

5.00%

,

5/15/2029

(a)

185,000

173,075

TK

Elevator

Holdco

GmbH

,

7.63%

,

7/15/2028

(a)

205,000

200,876

TK

Elevator

US

Newco,

Inc.

,

5.25%

,

7/15/2027

(a)

557,000

532,741

TopBuild

Corp.

3.63%,

3/15/2029

(a)

30,000

26,939

4.13%,

2/15/2032

(a)

82,000

70,907

TransDigm,

Inc.

5.50%,

11/15/2027

614,000

596,455

6.75%,

8/15/2028

(a)

588,000

590,435

4.63%,

1/15/2029

390,000

357,335

6.38%,

3/01/2029

(a)

745,000

740,311

4.88%,

5/01/2029

193,000

177,749

6.88%,

12/15/2030

(a)

490,000

493,252

7.13%,

12/01/2031

(a)

235,000

239,668

6.63%,

3/01/2032

(a)

607,000

606,547

Trident

TPI

Holdings,

Inc.

,

12.75%

,

12/31/2028

(a)

146,000

157,848

TriMas

Corp.

,

4.13%

,

4/15/2029

(a)

105,000

94,346

Triumph

Group,

Inc.

,

9.00%

,

3/15/2028

(a)

247,000

255,722

Trivium

Packaging

Finance

BV

5.50%,

8/15/2026

(a)

369,000

362,465

8.50%,

8/15/2027

(a)

301,000

298,197

TTM

Technologies,

Inc.

,

4.00%

,

3/01/2029

(a)(b)

12,000

10,742

Tutor

Perini

Corp.

6.88%,

5/01/2025

(a)

77,000

77,000

11.88%,

4/30/2029

(a)

100,000

102,555

Vallourec

SACA

,

7.50%

,

4/15/2032

(a)

180,000

182,184

Vertiv

Group

Corp.

,

4.13%

,

11/15/2028

(a)

75,000

69,447

VM

Consolidated,

Inc.

,

5.50%

,

4/15/2029

(a)

65,000

61,177

Waste

Pro

USA,

Inc.

,

5.50%

,

2/15/2026

(a)

82,000

80,213

Watco

Cos.

LLC

/

Watco

Finance

Corp.

,

6.50%

,

6/15/2027

(a)

10,000

9,876

Weekley

Homes

LLC

/

Weekley

Finance

Corp.

,

4.88%

,

9/15/2028

(a)

85,000

77,764

Werner

FinCo

LP

/

Werner

FinCo,

Inc.

,

11.50%

,

6/15/2028

(a)

95,000

104,882

WESCO

Distribution,

Inc.

7.13%,

6/15/2025

(a)

212,000

212,191

7.25%,

6/15/2028

(a)

181,000

184,086

6.38%,

3/15/2029

(a)

193,000

191,908

XPO

CNW,

Inc.

,

6.70%

,

5/01/2034

10,000

10,172

XPO,

Inc.

7.13%,

6/01/2031

(a)

80,000

80,408

7.13%,

2/01/2032

(a)

125,000

125,769

29,392,702

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Technology

–

4.7%

Ahead

DB

Holdings

LLC

,

6.63%

,

5/01/2028

(a)

5,000

4,544

Alteryx,

Inc.

,

8.75%

,

3/15/2028

(a)

225,000

228,484

Amkor

Technology,

Inc.

,

6.63%

,

9/15/2027

(a)

11,000

10,976

ams-OSRAM

AG

,

12.25%

,

3/30/2029

(a)(b)

300,000

299,949

ASGN,

Inc.

,

4.63%

,

5/15/2028

(a)

10,000

9,339

AthenaHealth

Group,

Inc.

,

6.50%

,

2/15/2030

(a)

615,000

554,014

Boxer

Parent

Co.,

Inc.

,

7.13%

,

10/02/2025

(a)

74,000

74,126

Camelot

Finance

SA

,

4.50%

,

11/01/2026

(a)

247,000

235,333

Capstone

Borrower,

Inc.

,

8.00%

,

6/15/2030

(a)

85,000

85,666

Castle

US

Holding

Corp.

,

9.50%

,

2/15/2028

(a)

63,000

30,306

Central

Parent,

Inc.

/

CDK

Global,

Inc.

,

7.25%

,

6/15/2029

(a)

311,000

314,384

Clarivate

Science

Holdings

Corp.

3.88%,

7/01/2028

(a)

215,000

195,820

4.88%,

7/01/2029

(a)

207,000

188,568

Cloud

Software

Group,

Inc.

6.50%,

3/31/2029

(a)

820,000

777,625

9.00%,

9/30/2029

(a)

880,000

847,851

Conduent

Business

Services

LLC

/

Conduent

State

&

Local

Solutions,

Inc.

,

6.00%

,

11/01/2029

(a)

124,000

111,717

Consensus

Cloud

Solutions,

Inc.

,

6.50%

,

10/15/2028

(a)

21,000

18,377

Crane

NXT

Co.

,

4.20%

,

3/15/2048

340,000

232,766

Crowdstrike

Holdings,

Inc.

,

3.00%

,

2/15/2029

100,000

87,723

Dun

&

Bradstreet

Corp.

(The)

,

5.00%

,

12/15/2029

(a)(b)

512,000

466,048

Dye

&

Durham

Ltd.

,

8.63%

,

4/15/2029

(a)

63,000

63,677

Entegris,

Inc.

4.38%,

4/15/2028

(a)

220,000

205,117

3.63%,

5/01/2029

(a)

57,000

50,448

5.95%,

6/15/2030

(a)

147,000

143,176

Fair

Isaac

Corp.

5.25%,

5/15/2026

(a)

11,000

10,813

4.00%,

6/15/2028

(a)

159,000

146,484

Helios

Software

Holdings,

Inc.

/

ION

Corporate

Solutions

Finance

Sarl

,

4.63%

,

5/01/2028

(a)

25,000

22,018

KBR,

Inc.

,

4.75%

,

9/30/2028

(a)

71,000

66,246

McAfee

Corp.

,

7.38%

,

2/15/2030

(a)

274,000

254,105

MicroStrategy,

Inc.

,

6.13%

,

6/15/2028

(a)

335,000

310,468

NCR

Atleos

Corp.

,

9.50%

,

4/01/2029

(a)

485,000

515,486

NCR

Voyix

Corp.

5.00%,

10/01/2028

(a)

180,000

165,658

5.13%,

4/15/2029

(a)

420,000

385,975

ON

Semiconductor

Corp.

,

3.88%

,

9/01/2028

(a)

30,000

27,212

Open

Text

Corp.

3.88%,

2/15/2028

(a)

5,000

4,564

3.88%,

12/01/2029

(a)

60,000

52,580

Open

Text

Holdings,

Inc.

4.13%,

2/15/2030

(a)

514,000

451,598

4.13%,

12/01/2031

(a)

200,000

171,613

Pitney

Bowes,

Inc.

6.88%,

3/15/2027

(a)

111,000

99,966

7.25%,

3/15/2029

(a)

55,000

46,911

Playtika

Holding

Corp.

,

4.25%

,

3/15/2029

(a)

145,000

124,725

Presidio

Holdings,

Inc.

4.88%,

2/01/2027

(a)

50,000

49,917

8.25%,

2/01/2028

(a)

180,000

181,980

144

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Technology

–

4.7%

(continued)

PTC,

Inc.

,

4.00%

,

2/15/2028

(a)

113,000

104,693

Rackspace

Technology

Global,

Inc.

,

5.38%

,

12/01/2028

(a)

57,000

15,210

RingCentral,

Inc.

,

8.50%

,

8/15/2030

(a)

120,000

122,098

ROBLOX

Corp.

,

3.88%

,

5/01/2030

(a)

88,000

76,068

Rocket

Software,

Inc.

9.00%,

11/28/2028

(a)

452,000

454,087

6.50%,

2/15/2029

(a)

150,000

125,088

RRD

Parent,

Inc.

,

10.00%

,

10/15/2031

(a)(c)

54,600

95,106

Science

Applications

International

Corp.

,

4.88%

,

4/01/2028

(a)

90,000

84,952

Seagate

HDD

Cayman

4.88%,

6/01/2027

45,000

43,505

4.09%,

6/01/2029

124,000

112,740

3.13%,

7/15/2029

7,000

5,927

4.13%,

1/15/2031

15,000

13,030

8.50%,

7/15/2031

(a)

65,000

69,280

9.63%,

12/01/2032

305,000

341,810

5.75%,

12/01/2034

10,000

9,481

SS&C

Technologies,

Inc.

,

5.50%

,

9/30/2027

(a)

548,000

533,225

Twilio,

Inc.

3.63%,

3/15/2029

17,000

15,087

3.88%,

3/15/2031

19,000

16,460

UKG,

Inc.

,

6.88%

,

2/01/2031

(a)

20,000

20,036

Unisys

Corp.

,

6.88%

,

11/01/2027

(a)

5,000

4,342

Vericast

Corp.

11.00%,

9/15/2026

(a)

283,000

304,231

12.50%,

12/15/2027

(a)

15,000

17,137

Veritas

US,

Inc.

/

Veritas

Bermuda

Ltd.

,

7.50%

,

9/01/2025

(a)

541,000

491,518

Virtusa

Corp.

,

7.13%

,

12/15/2028

(a)

29,000

26,064

West

Technology

Group

LLC

,

8.50%

,

4/10/2027

(a)

100,000

85,501

Western

Digital

Corp.

,

4.75%

,

2/15/2026

243,000

236,515

Xerox

Corp.

4.80%,

3/01/2035

16,000

10,818

6.75%,

12/15/2039

85,000

65,106

Xerox

Holdings

Corp.

5.00%,

8/15/2025

(a)

1,000

972

5.50%,

8/15/2028

(a)

408,000

353,981

8.88%,

11/30/2029

(a)

110,000

104,890

ZoomInfo

Technologies

LLC

/

ZoomInfo

Finance

Corp.

,

3.88%

,

2/01/2029

(a)

525,000

463,909

12,747,220

Utilities

–

2.5%

Algonquin

Power

&

Utilities

Corp.

,

4.75%

,

1/18/2082

125,000

108,352

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp.

5.50%,

5/20/2025

128,000

127,561

5.88%,

8/20/2026

275,000

269,986

5.75%,

5/20/2027

353,000

342,798

9.38%,

6/01/2028

(a)

111,000

115,421

Atlantica

Sustainable

Infrastructure

PLC

,

4.13%

,

6/15/2028

(a)

5,000

4,493

Calpine

Corp.

5.25%,

6/01/2026

(a)

219,000

215,805

4.50%,

2/15/2028

(a)

474,000

442,796

5.13%,

3/15/2028

(a)

364,000

344,972

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Utilities

–

2.5%

(continued)

Calpine

Corp.

(continued)

4.63%,

2/01/2029

(a)

154,000

141,463

5.00%,

2/01/2031

(a)

369,000

335,312

3.75%,

3/01/2031

(a)

110,000

95,278

Clearway

Energy

Operating

LLC

4.75%,

3/15/2028

(a)

164,000

154,644

3.75%,

2/15/2031

(a)

210,000

177,561

3.75%,

1/15/2032

(a)

11,000

9,113

DPL,

Inc.

4.13%,

7/01/2025

85,000

82,596

4.35%,

4/15/2029

461,000

415,685

Drax

Finco

PLC

,

6.63%

,

11/01/2025

(a)

45,000

45,000

Edison

International

,

8.13%

,

6/15/2053

110,000

112,394

Leeward

Renewable

Energy

Operations

LLC

,

4.25%

,

7/01/2029

(a)

10,000

8,276

NextEra

Energy

Operating

Partners

LP

3.88%,

10/15/2026

(a)

5,000

4,679

4.50%,

9/15/2027

(a)

66,000

61,504

7.25%,

1/15/2029

(a)(b)

47,000

47,652

NRG

Energy,

Inc.

6.63%,

1/15/2027

5,000

4,992

5.75%,

1/15/2028

15,000

14,750

3.38%,

2/15/2029

(a)

10,000

8,781

5.25%,

6/15/2029

(a)

127,000

120,243

3.63%,

2/15/2031

(a)

225,000

190,669

3.88%,

2/15/2032

(a)

340,000

286,554

Panoche

Energy

Center

LLC

,

6.89%

,

7/31/2029

(a)

14,791

14,036

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations,

Inc.

,

4.50%

,

8/15/2028

(a)

145,000

129,697

PG&E

Corp.

5.00%,

7/01/2028

81,000

77,212

5.25%,

7/01/2030

165,000

154,591

Pike

Corp.

5.50%,

9/01/2028

(a)

156,000

147,972

8.63%,

1/31/2031

(a)

207,000

217,622

Talen

Energy

Supply

LLC

,

8.63%

,

6/01/2030

(a)

137,000

144,904

TerraForm

Global

Operating

LP

,

6.13%

,

3/01/2026

(a)

35,000

34,470

TransAlta

Corp.

7.75%,

11/15/2029

7,000

7,168

6.50%,

3/15/2040

10,000

9,695

Vistra

Operations

Co.

LLC

5.50%,

9/01/2026

(a)

491,000

479,136

5.63%,

2/15/2027

(a)

6,000

5,837

5.00%,

7/31/2027

(a)

281,000

267,424

4.38%,

5/01/2029

(a)

382,000

348,237

7.75%,

10/15/2031

(a)

57,000

58,600

6.88%,

4/15/2032

(a)

220,000

219,254

145

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.1%

(continued)

Utilities

–

2.5%

(continued)

WGL

Holdings,

Inc.

,

4.60%

,

11/01/2044

100,000

78,386

6,683,571

Total

Corporate

Bonds

(cost

$268,134,170)

264,330,757

Shares

Investment

Companies

–

1.5%

Registered

Investment

Companies

–

1.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(h)(i)

(cost

$3,970,666)

3,970,666

3,970,666

Investment

of

Cash

Collateral

for

Securities

Loaned

–

4.2%

Registered

Investment

Companies

–

4.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(h)(i)

(cost

$11,503,526)

11,503,526

11,503,526

Total

Investments

(cost

$283,608,362)

103.8%

279,804,949

Liabilities,

Less

Cash

and

Receivables

(3.8)%

(10,368,186)

Net

Assets

100.0%

269,436,763

REIT—Real

Estate

Investment

Trust

(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

April

30,

2024,

these

securities

were

valued

at

$222,547,043

or

82.60%

of

net

assets.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$12,111,314

and

the

value

of

the

collateral

was

$13,670,291,

consisting

of

cash

collateral

of

$11,503,526

and

U.S.

Government

&

Agency

securities

valued

at

$2,166,765.

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

April

30,

2024

was

$65,011,

which

represented

0.02%

of

the

Fund’s

Net

Assets.

(e)

Perpetual

bond

with

no

specified

maturity

date.

(f)

Step

coupon

bond.

The

interest

rate

represents

the

coupon

rate

at

which

the

bond

will

accrue

at

a

specified

future

date.

(g)

Denotes

a

zero

coupon

security

issued

at

a

substantial

discount

from

its

value

at

maturity.

(h)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

(i)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Consumer,

Cyclical

21.6

Communications

15.3

Consumer,

Non-cyclical

14.4

Financial

12.1

Energy

12.0

Industrial

10.9

Registered

Investment

Companies

5.7

Technology

4.7

Basic

Materials

4.3

Utilities

2.5

Diversified

0.3

103.8

†

Based

on

net

assets.

146

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

1.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

191,178

22,647,481

(18,867,993)

3,970,666

46,288

Investment

of

Cash

Collateral

for

Securities

Loaned

–

4.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,756,613

31,566,954

(21,820,041)

11,503,526

42,318

2

Total

–

5.7%

1,947,791

54,214,435

(40,688,034)

15,474,192

88,606

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.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

U.S.

Treasury

10

Year

Notes

22

6/18/2024

2,370,726

2,363,625

(7,101)

U.S.

Treasury

Long

Bonds

5

6/18/2024

589,384

569,063

(20,322)

U.S.

Treasury

Ultra

Bonds

2

6/18/2024

250,035

239,125

(10,910)

Futures

Short

U.S.

Treasury

10

Year

Ultra

Notes

2

6/18/2024

220,528

220,438

91

U.S.

Treasury

2

Year

Notes

4

6/28/2024

813,306

810,625

2,681

U.S.

Treasury

5

Year

Notes

20

6/28/2024

2,095,645

2,094,844

801

Gross

Unrealized

Appreciation

3,573

Gross

Unrealized

Depreciation

(38,333)

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

Index,

Series

42

6/20/2029

1,500,000

87,645

87,645

0

(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.

147

STATEMENTS

OF

ASSETS

AND

LIABILITIES

April

30,

2024

(Unaudited)

See

Notes

to

Financial

Statements

36

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

2,246,265,774‌

465,931,196‌

111,718,576‌

Affiliated

issuers

4,329,009‌

5,756,204‌

2,323,327‌

Cash

collateral

held

by

broker—Note

4

535,000‌

274,000‌

68,000‌

Dividends

receivable

1,322,689‌

229,495‌

33,774‌

Tax

reclaim

receivable—Note

2(b)

12,632‌

3,460‌

—‌

Securities

lending

income

receivable

3,989‌

6,806‌

2,867‌

Receivable

for

shares

of

Beneficial

Interest

subscribed

—‌

3,311‌

493‌

Due

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

344‌

—‌

—‌

2,252,469,437‌

472,204,472‌

114,147,037‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

15,192‌

3,624‌

Liability

for

securities

on

loan—Note

2(c)

511,356‌

4,566,967‌

1,998,010‌

Payable

for

futures

variation

margin—Note

4

72,000‌

23,750‌

8,300‌

Payable

for

shares

of

Beneficial

Interest

redeemed

4,713‌

—‌

—‌

588,069‌

4,605,909‌

2,009,934‌

Net

Assets

($)

2,251,881,368‌

467,598,563‌

112,137,103‌

Composition

of

Net

Assets

($):

Paid-in

capital

1,877,805,539‌

427,944,421‌

120,487,900‌

Total

distributable

earnings

(loss)

374,075,829‌

39,654,142‌

(8,350,797‌)

Net

Assets

($)

2,251,881,368‌

467,598,563‌

112,137,103‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

23,590,000‌

5,090,000‌

1,250,000‌

Net

asset

value

per

share

95.46‌

91.87‌

89.71‌

Market

price

per

share

95.55‌

91.78‌

89.75‌

†

Investments

at

cost

($)

Unaffiliated

issuers

1,887,104,496‌

429,552,487‌

109,225,777‌

Affiliated

issuers

4,329,009‌

5,756,204‌

2,323,327‌

††

Value

of

securities

on

loan

($)

23,413,922‌

11,518,681‌

4,015,591‌

148

STATEMENTS

OF

ASSETS

AND

LIABILITIES

(continued)

See

Notes

to

Financial

Statements

69

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

620,318,086‌

98,392,373‌

Affiliated

issuers

769,249‌

389,329‌

Cash

denominated

in

foreign

currency

†††

1,803,100‌

592,451‌

Cash

collateral

held

by

broker—Note

4

164,000‌

53,000‌

Dividends

receivable

2,396,933‌

120,994‌

Tax

reclaim

receivable—Note

2(b)

1,193,900‌

1,838‌

Receivable

for

investment

securities

sold

3,970‌

6,670‌

Securities

lending

income

receivable

932‌

1,125‌

Receivable

for

shares

of

Beneficial

Interest

subscribed

342‌

—‌

626,650,512‌

99,557,780‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

20,146‌

8,761‌

Liability

for

securities

on

loan—Note

2(c)

513,181‌

169,334‌

Payable

for

futures

variation

margin—Note

4

57,888‌

6,902‌

Payable

for

investment

securities

purchased

—‌

558,555‌

Payable

for

foreign

capital

gains

tax—Note

2(b)

—‌

663,166‌

591,215‌

1,406,718‌

Net

Assets

($)

626,059,297‌

98,151,062‌

Composition

of

Net

Assets

($):

Paid-in

capital

577,826,816‌

96,415,749‌

Total

distributable

earnings

(loss)

48,232,481‌

1,735,313‌

Net

Assets

($)

626,059,297‌

98,151,062‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

8,600,000‌

1,700,000‌

Net

asset

value

per

share

72.80‌

57.74‌

Market

price

per

share

72.20‌

57.01‌

†

Investments

at

cost

($)

Unaffiliated

issuers

555,319,865‌

89,077,150‌

Affiliated

issuers

769,249‌

389,329‌

††

Value

of

securities

on

loan

($)

2,359,928‌

159,183‌

†††

Cash

denominated

in

foreign

currency

(cost)

($)

1,804,745‌

592,791‌

149

See

Notes

to

Financial

Statements

BNY

Mellon

Core

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

1,715,776,315‌

264,330,757‌

Affiliated

issuers

52,538,722‌

15,474,192‌

Cash

172,438‌

—‌

Cash

collateral

held

by

broker—Note

4

—‌

96,395‌

Receivable

for

investment

securities

sold

17,730,840‌

23,793,704‌

Interest

receivable

12,633,800‌

4,448,487‌

Receivable

for

investment

securities

sold—TBA

3,362,154‌

—‌

Dividends

receivable

184,583‌

12,736‌

Receivable

for

shares

of

Beneficial

Interest

subscribed

23,824‌

—‌

Securities

lending

income

receivable

7,227‌

8,977‌

Receivable

for

futures

variation

margin—Note

4

—‌

49,632‌

Due

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

3,505‌

—‌

1,802,433,408‌

308,214,880‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

49,792‌

TBA

sale

commitments

at

value—Note

4

†††

180,551‌

—‌

Liability

for

securities

on

loan—Note

2(c)

4,701,289‌

11,503,526‌

Payable

for

investment

securities

purchased—TBA

41,544,323‌

—‌

Payable

for

investment

securities

purchased

26,135,871‌

27,216,049‌

Payable

for

swaps

variation

margin—Note

4

—‌

8,750‌

72,562,034‌

38,778,117‌

Net

Assets

($)

1,729,871,374‌

269,436,763‌

Composition

of

Net

Assets

($):

Paid-in

capital

1,834,825,684‌

274,979,079‌

Total

distributable

earnings

(loss)

(104,954,310‌)

(5,542,316‌)

Net

Assets

($)

1,729,871,374‌

269,436,763‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

42,550,000‌

5,750,000‌

Net

asset

value

per

share

40.66‌

46.86‌

Market

price

per

share

40.68‌

46.80‌

†

Investments

at

cost

($)

Unaffiliated

issuers

1,806,354,613‌

268,134,170‌

Affiliated

issuers

52,538,722‌

15,474,192‌

††

Value

of

securities

on

loan

($)

80,602,536‌

12,111,314‌

†††

TBA

sale

commitments

proceeds

($)

183,963‌

—‌

150

STATEMENTS

OF

OPERATIONS

Six

Months

Ended

April

30,

2024

(Unaudited)

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

†

15,599,373‌

3,782,298‌

919,505‌

Affiliated

issuers

113,117‌

32,892‌

10,166‌

Income

from

securities

lending—Note

2(c)

41,589‌

26,439‌

23,137‌

Total

Income

15,754,079‌

3,841,629‌

952,808‌

Expenses:

Management

fee—Note

3(a)

—‌

93,214‌

21,854‌

Total

Expenses

—‌

93,214‌

21,854‌

Net

Investment

Income

15,754,079‌

3,748,415‌

930,954‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(38,794,961‌)

(16,702,750‌)

(4,085,117‌)

Net

realized

gain

(loss)

on

in-kind

redemptions

73,362,749‌

33,069,213‌

5,207,802‌

Net

realized

gain

(loss)

on

futures

1,006,865‌

361,736‌

93,007‌

Net

realized

gain

(loss)

35,574,653‌

16,728,199‌

1,215,692‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

323,740,404‌

74,313,771‌

16,068,030‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

(54,761‌)

(22,689‌)

(5,152‌)

Net

change

in

unrealized

appreciation

(depreciation)

323,685,643‌

74,291,082‌

16,062,878‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

359,260,296‌

91,019,281‌

17,278,570‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

375,014,375‌

94,767,696‌

18,209,524‌

†

Net

of

foreign

taxes

withheld

at

source

($)

72‌

4,452‌

573‌

151

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

8,689,203‌

929,834‌

Affiliated

issuers

20,929‌

3,338‌

Income

from

securities

lending—Note

2(c)

4,355‌

2,986‌

Total

Income

8,714,487‌

936,158‌

Expenses:

Management

fee—Note

3(a)

111,373‌

51,584‌

Total

Expenses

111,373‌

51,584‌

Net

Investment

Income

8,603,114‌

884,574‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

(5,715,001‌)

(2,819,540‌)

Net

realized

gain

(loss)

on

futures

304,199‌

28,334‌

Net

realized

gain

(loss)

on

foreign

capital

gains

tax—Note

2(b)

—‌

(45,544‌)

Net

realized

gain

(loss)

(5,410,802‌)

(2,836,750‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

83,398,973‌

15,161,809‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

(2,159‌)

6,737‌

Net

change

in

unrealized

appreciation

(depreciation)

on

deferred

foreign

capital

gains

tax—Note

2(b)

—‌

(458,279‌)

Net

change

in

unrealized

appreciation

(depreciation)

83,396,814‌

14,710,267‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

77,986,012‌

11,873,517‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

86,589,126‌

12,758,091‌

†

Net

of

foreign

taxes

withheld

at

source

($)

1,000,825‌

99,179‌

152

STATEMENTS

OF

OPERATIONS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

925,167‌

46,288‌

Interest

†

29,190,955‌

8,364,892‌

Income

from

securities

lending—Note

2(c)

44,442‌

42,318‌

Total

Income

30,160,564‌

8,453,498‌

Expenses:

Management

fee—Note

3(a)

—‌

237,874‌

Total

Expenses

—‌

237,874‌

Net

Investment

Income

30,160,564‌

8,215,624‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(5,567,073‌)

(641,487‌)

Net

realized

gain

(loss)

on

in-kind

redemptions

(1,555,760‌)

(200,944‌)

Net

realized

gain

(loss)

on

futures

—‌

(35,903‌)

Net

realized

gain

(loss)

(7,122,833‌)

(878,334‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(25,767,019‌)

963,439‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

—‌

(34,760‌)

Net

change

in

unrealized

appreciation

(depreciation)

(25,767,019‌)

928,679‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

(32,889,852‌)

50,345‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

(2,729,288‌)

8,265,969‌

†

Net

of

foreign

taxes

withheld

at

source

($)

–‌

472‌

153

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

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Operations

($):

Net

investment

income

15,754,079‌

22,217,220‌

3,748,415‌

5,251,098‌

Net

realized

gain

(loss)

on

investments

35,574,653‌

47,464,910‌

16,728,199‌

(16,812,307‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

323,685,643‌

74,994,670‌

74,291,082‌

(39,446,369‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

375,014,375‌

144,676,800‌

94,767,696‌

(51,007,578‌)

Distributions

($):

Distributions

to

shareholders

(15,650,303‌)

(20,945,065‌)

(3,625,333‌)

(5,046,679‌)

Capital

Contributions

($):

Capital

contributions

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(a)

2,123

2,614

—

—

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

483,410,280‌

1,505,088,913‌

168,186,852‌

746,766,023‌

Cost

of

shares

redeemed

(285,369,470‌)

(372,505,231‌)

(212,246,320‌)

(356,623,557‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

198,040,810‌

1,132,583,682‌

(44,059,468‌)

390,142,466‌

Total

Increase

(Decrease)

in

Net

Assets

557,407,005‌

1,256,318,031‌

47,082,895‌

334,088,209‌

Net

Assets

($):

Beginning

of

Period

1,694,474,363‌

438,156,332‌

420,515,668‌

86,427,459‌

End

of

Period

2,251,881,368‌

1,694,474,363‌

467,598,563‌

420,515,668‌

Changes

in

Shares

Outstanding:

Shares

sold

5,400,000‌

19,960,000‌

2,040,000‌

8,920,000‌

Shares

redeemed

(3,180,000‌)

(4,740,000‌)

(2,480,000‌)

(4,500,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

2,220,000‌

15,220,000‌

(440,000‌)

4,420,000‌

154

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

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Operations

($):

Net

investment

income

930,954‌

1,241,450‌

8,603,114‌

12,283,018‌

Net

realized

gain

(loss)

on

investments

1,215,692‌

(3,840,108‌)

(5,410,802‌)

(6,068,876‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

16,062,878‌

(7,294,768‌)

83,396,814‌

(6,706,956‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

18,209,524‌

(9,893,426‌)

86,589,126‌

(492,814‌)

Distributions

($):

Distributions

to

shareholders

(941,454‌)

(1,210,938‌)

(7,107,832‌)

(12,099,003‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

18,546,804‌

128,271,521‌

101,951,971‌

330,181,592‌

Cost

of

shares

redeemed

(19,045,681‌)

(57,552,862‌)

—‌

—‌

Transaction

fees—Note

5

—‌

—‌

1,788‌

13,918‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

(498,877‌)

70,718,659‌

101,953,759‌

330,195,510‌

Total

Increase

(Decrease)

in

Net

Assets

16,769,193‌

59,614,295‌

181,435,053‌

317,603,693‌

Net

Assets

($):

Beginning

of

Period

95,367,910‌

35,753,615‌

444,624,244‌

127,020,551‌

End

of

Period

112,137,103‌

95,367,910‌

626,059,297‌

444,624,244‌

Changes

in

Shares

Outstanding:

Shares

sold

220,000‌

1,520,000‌

1,450,000‌

4,900,000‌

Shares

redeemed

(220,000‌)

(720,000‌)

—‌

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

—‌

800,000‌

1,450,000‌

4,900,000‌

155

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Operations

($):

Net

investment

income

884,574‌

2,070,377‌

30,160,564‌

15,570,099‌

Net

realized

gain

(loss)

on

investments

(2,836,750‌)

(2,430,694‌)

(7,122,833‌)

(11,040,164‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

14,710,267‌

(3,294,583‌)

(25,767,019‌)

(9,764,935‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

12,758,091‌

(3,654,900‌)

(2,729,288‌)

(5,235,000‌)

Distributions

($):

Distributions

to

shareholders

(910,401‌)

(2,258,499‌)

(24,801,678‌)

(14,363,073‌)

Capital

Contributions

($):

Capital

contributions

from

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(a)

—

—

17,384

9,696

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

—‌

66,084,881‌

1,281,245,649‌

240,849,540‌

Cost

of

shares

redeemed

—‌

—‌

(65,767,459‌)

(52,681,766‌)

Transaction

fees—Note

5

—‌

85,652‌

991,957‌

147,929‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

—‌

66,170,533‌

1,216,470,147‌

188,315,703‌

Total

Increase

(Decrease)

in

Net

Assets

11,847,690‌

60,257,134‌

1,188,956,565‌

168,727,326‌

Net

Assets

($):

Beginning

of

Period

86,303,372‌

26,046,238‌

540,914,809‌

372,187,483‌

End

of

Period

98,151,062‌

86,303,372‌

1,729,871,374‌

540,914,809‌

Changes

in

Shares

Outstanding:

Shares

sold

—‌

1,150,000‌

30,450,000‌

5,800,000‌

Shares

redeemed

—‌

—‌

(1,600,000‌)

(1,250,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

—‌

1,150,000‌

28,850,000‌

4,550,000‌

156

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

High

Yield

Beta

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Operations

($):

Net

investment

income

8,215,624‌

12,062,480‌

Net

realized

gain

(loss)

on

investments

(878,334‌)

(11,978,094‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

928,679‌

(79,114‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

8,265,969‌

5,272‌

Distributions

($):

Distributions

to

shareholders

(6,900,754‌)

(11,992,910‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

233,027,991‌

370,594,918‌

Cost

of

shares

redeemed

(18,468,390‌)

(355,512,001‌)

Transaction

fees—Note

5

179‌

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

214,559,780‌

15,082,917‌

Total

Increase

(Decrease)

in

Net

Assets

215,924,995‌

3,095,279‌

Net

Assets

($):

Beginning

of

Period

53,511,768‌

50,416,489‌

End

of

Period

269,436,763‌

53,511,768‌

Changes

in

Shares

Outstanding:

Shares

sold

4,950,000‌

7,800,000‌

Shares

redeemed

(400,000‌)

(7,700,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

4,550,000‌

100,000‌

157

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

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

9,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

79.29‌

71.24‌

87.00‌

61.95‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.69‌

1.23‌

1.15‌

1.06‌

0.56‌

Net

realized

and

unrealized

gain

(loss)

on

investments

16.16‌

7.99‌

(15.81‌)

24.90‌

11.81‌

Total

from

Investment

Operations

16.85‌

9.22‌

(14.66‌)

25.96‌

12.37‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.68‌)

(1.17‌)

(1.10‌)

(0.91‌)

(0.42‌)

Net

asset

value,

end

of

period

95.46‌

79.29‌

71.24‌

87.00‌

61.95‌

Market

price,

end

of

period

95.55‌

79.24‌

71.29‌

87.03‌

61.82‌

Net

Asset

Value

Total

Return

(%)

(c)

21.25‌

13.00‌

(16.91‌)

42.08‌

24.76‌

Market

Price

Total

Return

(%)

(c)

21.44‌

12.85‌

(16.90‌)

42.42‌

24.50‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(d),(e)

–‌

(e)

–‌

(e)

–‌

(e)

–‌

(d)

Ratio

of

net

investment

income

to

average

net

assets

1.50‌

(d),(e)

1.57‌

(e)

1.47‌

(e)

1.35‌

(e)

1.63‌

(d)

Portfolio

Turnover

Rate

(f)

16.31‌

5.33‌

5.74‌

10.53‌

10.62‌

Net

Assets,

end

of

period

($

x

1,000)

2,251,881‌

1,694,474‌

438,156‌

391,486‌

93,045‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

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.

(d)

Annualized.

(e)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

158

See

Notes

to

Financial

Statements

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

9,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

76.04‌

77.86‌

94.03‌

65.66‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.72‌

1.35‌

1.32‌

1.07‌

0.50‌

Net

realized

and

unrealized

gain

(loss)

on

investments

15.82‌

(1.99‌)

(16.18‌)

28.28‌

15.63‌

Total

from

Investment

Operations

16.54‌

(0.64‌)

(14.86‌)

29.35‌

16.13‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.71‌)

(1.18‌)

(1.31‌)

(0.98‌)

(0.47‌)

Net

asset

value,

end

of

period

91.87‌

76.04‌

77.86‌

94.03‌

65.66‌

Market

price,

end

of

period

91.78‌

76.08‌

77.86‌

94.11‌

65.55‌

Net

Asset

Value

Total

Return

(%)

(c)

21.71‌

(0.89‌)

(15.88‌)

44.87‌

32.27‌

Market

Price

Total

Return

(%)

(c)

21.54‌

(0.83‌)

(15.94‌)

45.23‌

32.06‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(d),(e)

0.04‌

(e)

0.04‌

(e)

0.04‌

(e)

0.04‌

(d)

Ratio

of

net

investment

income

to

average

net

assets

1.61‌

(d),(e)

1.66‌

(e)

1.55‌

(e)

1.24‌

(e)

1.43‌

(d)

Portfolio

Turnover

Rate

(f)

81.96‌

11.76‌

25.97‌

32.65‌

21.26‌

Net

Assets,

end

of

period

($

x

1,000)

467,599‌

420,516‌

86,427‌

112,841‌

39,396‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

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.

(d)

Annualized.

(e)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

159

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

9,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

76.29‌

79.45‌

97.73‌

67.17‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.76‌

1.30‌

1.22‌

1.25‌

0.49‌

Net

realized

and

unrealized

gain

(loss)

on

investments

13.43‌

(3.30‌)

(18.22‌)

30.31‌

17.14‌

Total

from

Investment

Operations

14.19‌

(2.00‌)

(17.00‌)

31.56‌

17.63‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.77‌)

(1.16‌)

(1.28‌)

(1.00‌)

(0.46‌)

Net

asset

value,

end

of

period

89.71‌

76.29‌

79.45‌

97.73‌

67.17‌

Market

price,

end

of

period

89.75‌

76.35‌

79.50‌

97.86‌

67.03‌

Net

Asset

Value

Total

Return

(%)

(c)

18.53‌

(2.59‌)

(17.45‌)

47.08‌

35.30‌

Market

Price

Total

Return

(%)

(c)

18.51‌

(2.57‌)

(17.50‌)

47.59‌

35.03‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(d),(e)

0.04‌

(e)

0.04‌

(e)

0.04‌

(e)

0.04‌

(d)

Ratio

of

net

investment

income

to

average

net

assets

1.70‌

(d),(e)

1.58‌

(e)

1.36‌

(e)

1.34‌

(e)

1.37‌

(d)

Portfolio

Turnover

Rate

(f)

50.72‌

20.13‌

37.93‌

50.09‌

32.54‌

Net

Assets,

end

of

period

($

x

1,000)

112,137‌

95,368‌

35,754‌

180,810‌

40,302‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

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.

(d)

Annualized.

(e)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

160

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

24,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

62.19‌

56.45‌

74.38‌

56.06‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

1.09‌

2.19‌

2.03‌

1.82‌

0.76‌

Net

realized

and

unrealized

gain

(loss)

on

investments

10.40‌

5.43‌

(c)

(17.83‌)

18.31‌

6.00‌

Total

from

Investment

Operations

11.49‌

7.62‌

(15.80‌)

20.13‌

6.76‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.88‌)

(1.88‌)

(2.13‌)

(1.81‌)

(0.70‌)

Transaction

fees

(b)

0.00‌

(d)

0.00‌

(d)

—‌

—‌

—‌

Net

asset

value,

end

of

period

72.80‌

62.19‌

56.45‌

74.38‌

56.06‌

Market

price,

end

of

period

72.20‌

62.88‌

56.52‌

74.86‌

56.66‌

Net

Asset

Value

Total

Return

(%)

(e)

18.47‌

13.32‌

(21.49‌)

36.10‌

13.49‌

Market

Price

Total

Return

(%)

(e)

16.19‌

14.43‌

(21.92‌)

35.52‌

14.69‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(f),(g)

0.04‌

(g)

0.04‌

(g)

0.04‌

(g)

0.04‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

3.09‌

(f),(g)

3.30‌

(g)

3.15‌

(g)

2.57‌

(g)

2.55‌

(f)

Portfolio

Turnover

Rate

(h)

12.72‌

13.57‌

19.30‌

13.49‌

12.82‌

Net

Assets,

end

of

period

($

x

1,000)

626,059‌

444,624‌

127,021‌

100,409‌

30,834‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

In

addition

to

net

realized

and

unrealized

gains

(losses)

on

investments,

this

amount

includes

an

increase

in

net

asset

value

per

share

resulting

from

the

timing

of

issuances

and

redemptions

of

shares

in

relation

to

fluctuating

market

values

for

the

fund's

investments.

(d)

Amount

represents

less

than

$0.01

per

share.

(e)

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.

(f)

Annualized.

(g)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(h)

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.

161

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

24,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.77‌

47.36‌

69.84‌

62.45‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.52‌

1.55‌

1.76‌

1.47‌

0.81‌

Net

realized

and

unrealized

gain

(loss)

on

investments

6.99‌

3.28‌

(c)

(22.41‌)

7.69‌

12.40‌

Total

from

Investment

Operations

7.51‌

4.83‌

(20.65‌)

9.16‌

13.21‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.54‌)

(1.48‌)

(1.83‌)

(1.77‌)

(0.76‌)

Transaction

fees

(b)

—‌

0.06‌

—‌

—‌

—‌

Net

asset

value,

end

of

period

57.74‌

50.77‌

47.36‌

69.84‌

62.45‌

Market

price,

end

of

period

57.01‌

50.67‌

47.53‌

69.90‌

62.92‌

Net

Asset

Value

Total

Return

(%)

(d)

14.82‌

10.14‌

(29.91‌)

14.61‌

26.52‌

Market

Price

Total

Return

(%)

(d)

13.59‌

9.55‌

(29.76‌)

13.83‌

27.44‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.11‌

(e),(f)

0.11‌

(f)

0.11‌

(f)

0.11‌

(f)

0.11‌

(e)

Ratio

of

net

expenses

to

average

net

assets

0.11‌

(e),(f)

0.11‌

(f)

0.11‌

(f)

0.11‌

(f)

0.11‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.89‌

(e),(f)

2.8

4‌

(f)

2.90‌

(f)

2.00‌

(f)

2.63‌

(e)

Portfolio

Turnover

Rate

(g)

19.14‌

19.90‌

15.00‌

17.42‌

12.84‌

Net

Assets,

end

of

period

($

x

1,000)

98,151‌

86,303‌

26,046‌

38,411‌

34,351‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

In

addition

to

net

realized

and

unrealized

gains

(losses)

on

investments,

this

amount

includes

an

increase

in

net

asset

value

per

share

resulting

from

the

timing

of

issuances

and

redemptions

of

shares

in

relation

to

fluctuating

market

values

for

the

fund's

investments.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(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.

162

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

24,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

39.48‌

40.68‌

49.30‌

50.27‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.90‌

1.47‌

0.96‌

0.55‌

0.32‌

Net

realized

and

unrealized

gain

(loss)

on

investments

1.04‌

(c)

(1.31‌)

(8.68‌)

(0.75‌)

0.33‌

Total

from

Investment

Operations

1.94‌

0.16‌

(7.72‌)

(0.20‌)

0.65‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(0.79‌)

(1.37‌)

(0.92‌)

(0.77‌)

(0.38‌)

Transaction

fees

(b)

0.03‌

0.01‌

0.02‌

—‌

—‌

Net

asset

value,

end

of

period

40.66‌

39.48‌

40.68‌

49.30‌

50.27‌

Market

price,

end

of

period

40.68‌

39.52‌

40.66‌

49.33‌

50.29‌

Net

Asset

Value

Total

Return

(%)

(d)

4.94‌

0.31‌

(15.82‌)

(0.41‌)

1.30‌

Market

Price

Total

Return

(%)

(d)

4.91‌

0.44‌

(15.89‌)

(0.38‌)

1.33‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(e),(f)

–‌

(f)

–‌

(f)

–‌

(f)

–‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

4.35‌

(e),(f)

3.53‌

(f)

2.15‌

(f)

1.12‌

(f)

1.20‌

(e)

Portfolio

Turnover

Rate

(g)

32.06‌

64.39‌

84.75‌

105.97‌

27.32‌

Net

Assets,

end

of

period

($

x

1,000)

1,729,871‌

540,915‌

372,187‌

194,745‌

45,248‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

In

addition

to

net

realized

and

unrealized

gains

(losses)

on

investments,

this

amount

includes

an

increase

in

net

asset

value

per

share

resulting

from

the

timing

of

issuances

and

redemptions

of

shares

in

relation

to

fluctuating

market

values

for

the

fund's

investments.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(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.

163

See

Notes

to

Financial

Statements

BNY

Mellon

High

Yield

Beta

ETF

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

For

the

Period

from

April

24,

2020

(a)

to

October

31,

2020

2023

2022

2021

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

44.59‌

45.83‌

56.23‌

54.06‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

1.77‌

3.53‌

2.76‌

2.80‌

1.70‌

Net

realized

and

unrealized

gain

(loss)

on

investments

2.15‌

(0.67‌)

(9.25‌)

2.66‌

3.74‌

Total

from

Investment

Operations

3.92‌

2.86‌

(6.49‌)

5.46‌

5.44‌

Distributions:

–

–

–

–

–

Dividends

from

net

investment

income

(1.65‌)

(4.10‌)

(2.93‌)

(2.87‌)

(1.38‌)

Dividends

from

net

realized

gain

on

investments

—‌

—‌

(0.98‌)

(0.42‌)

—‌

Total

Distributions

(1.65‌)

(4.10‌)

(3.91‌)

(3.29‌)

(1.38‌)

Transaction

fees

(b)

0.00‌

(c)

—‌

—‌

—‌

—‌

Net

asset

value,

end

of

period

46.86‌

44.59‌

45.83‌

56.23‌

54.06‌

Market

price,

end

of

period

46.80‌

44.61‌

45.76‌

56.24‌

54.08‌

Net

Asset

Value

Total

Return

(%)

(d)

8.86‌

6.30‌

(12.09‌)

10.27‌

10.94‌

Market

Price

Total

Return

(%)

(d)

8.68‌

6.53‌

(12.26‌)

10.25‌

10.98‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.22‌

(e),(f)

0.22‌

(f)

0.22‌

(f)

0.22‌

(f)

0.22‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

7.60‌

(e),(f)

7.60‌

(f)

5.51‌

(f)

4.98‌

(f)

6.06‌

(e)

Portfolio

Turnover

Rate

(g)

56.15‌

39.89‌

35.81‌

61.03‌

39.43‌

Net

Assets,

end

of

period

($

x

1,000)

269,437‌

53,512‌

50,416‌

47,793‌

54,062‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

Amount

represents

less

than

$0.01

per

share.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Amounts

do

not

include

the

expenses

of

the

underlying

fund.

(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.

164

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

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

thirteen

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

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”),

an

indirect wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

each

fund’s

sub-adviser,

except

for

BNY

Mellon

High

Yield

Beta

ETF.

Insight

North

America

LLC

(“INA”),

an

indirect wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

BNY

Mellon

High

Yield

Beta

ETF’s

sub-adviser.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

each

fund’s

shares.

Effective

November

15,

2023,

each

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

and

BNY

Mellon

Emerging

Markets

Equity

ETF

changed

its

benchmark

and

its

investment

objective.

Beginning

November

15,

2023,

the

objective

of

each

fund

is

to

seek

to

track

the

performance

of

the

underlying

index

as

reflected

in

the

table

below. 

†

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.

††

Solactive

AG

(“Solactive”)

is

the

licensor

of

Solactive

GBS

United

States

500

Index

TR,

Solactive

GBS

United

States

400

Index

TR,

Solactive

GBS

United

States

600

Index

TR,

Solactive

GBS

Developed

Markets

ex

United

States

Large

&

Mid

Cap

USD

Index

NTR,

and

Solactive

GBS

Emerging

Markets

Large

&

Mid

Cap

USD

Index

NTR

(the

“Solactive

Indexes”).

The

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

(collectively,

and

solely

for

the

purposes

of

this

section,

the

"BNY

Mellon

Equity

ETFs")

are

not

sponsored,

endorsed,

promoted

or

sold

by

Solactive

in

any

way

and

Solactive

makes

no

express

or

implied

representation,

guarantee

or

assurance

with

regard

to:

(a)

the

advisability

in

investing

in

the

funds;

(b)

the

quality,

accuracy

and/or

completeness

of

the

Solactive

Indexes;

and/or

(c)

the

results

obtained

or

to

be

obtained

by

any

person

or

entity

from

the

use

of

the

Solactive

Indexes.

Solactive

does

not

guarantee

the

accuracy

and/or

the

completeness

of

the

Solactive

Indexes

and

shall

not

have

any

liability

for

any

errors

or

omissions

with

respect

thereto.

Notwithstanding

Solactive’s

obligations

to

its

licensees,

Solactive

reserves

the

right

to

change

the

methods

of

calculation

or

publication

with

respect

to

the

Solactive

Indexes

and

Solactive

shall

not

be

liable

for

any

miscalculation

of

or

any

incorrect,

delayed

or

interrupted

publication

with

respect

to

the

Solactive

Indexes.

Solactive

shall

not

be

liable

for

any

damages,

including,

without

limitation,

any

loss

of

profits

or

business,

or

any

special,

incidental,

punitive,

indirect

or

consequential

damages

suffered

or

incurred

as

a

result

of

the

use

(or

inability

to

use)

of

the

Solactive

Indexes.

†††

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

Shares.”

Fund

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

a

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

each

fund

issues

and

redeems

Shares

on

a

continuous

basis,

at

NAV,

only

in

a

large

specified

number

of

Shares,

each

called

a

“Creation

Unit”.

Creation

Units

are

issued

and

redeemed

principally

in

exchange

for

the

deposit

or

delivery

of

a

basket

of

securities.

Except

when

aggregated

in

Creation

Units

by

Authorized

Participants,

the

Shares

are

not

individually

redeemable

securities

of

the

funds.

Individual

Fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

Fund

Shares

trade

at

market

prices

rather

than

at

NAV,

Fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask).

NOTE

2—Significant

Accounting

Policies:

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

 Fund

Name

Previous

Underlying

Index

Underlying

Index

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Morningstar

®

US

Large

Cap

Index

SM

†

Solactive

GBS

United

States

500

Index

TR

††

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Morningstar

®

US

Mid

Cap

Index

SM

†

Solactive

GBS

United

States

400

Index

TR

††

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Morningstar

®

US

Small

Cap

Index

SM

†

Solactive

GBS

United

States

600

Index

TR

††

BNY

Mellon

International

Equity

ETF

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

†

Solactive

GBS

Developed

Markets

ex

United

States

Large

&

Mid

Cap

USD

Index

NTR

††

BNY

Mellon

Emerging

Markets

Equity

ETF

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

†

Solactive

GBS

Emerging

Markets

Large

&

Mid

Cap

USD

Index

NTR

††

BNY

Mellon

Core

Bond

ETF

Bloomberg

US

Aggregate

Total

Return

Index

†††

BNY

Mellon

High

Yield

Beta

ETF

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

†††

165

of

the

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

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:

The

Trust’s

Board

of

Trustees

(the

“Board”)

has

designated

the

Adviser

as

each

fund’s

valuation

designee to

make

all

fair

value

determinations

with

respect

to

each

fund’s

portfolio

of

investments,

subject

to

the

Board’s

oversight

and

pursuant

to

Rule

2a-5

under

the

Act.

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

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.

Each

Service

and

independent

valuation

firm

is

engaged

under

the

general

oversight

of

the

Board.

These

securities

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

fair

value

accurately,

they are

valued

at

fair

value as

determined

in

good

faith based

on

procedures

approved

by

the

Board.

Fair

value

of

investments

may

be

determined

by

valuation

designee

using

such

information

as

it deems

appropriate

under

the

circumstances. 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.

166

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

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 April

30,

2024

in

valuing

each

fund’s

investments:

Fair

Value

Measurements

Marie

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-  Significant

Unobservable

Inputs

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Assets

($)

Investments

In

Securities:

†

Common

Stocks

2,246,265,774

—

—

2,246,265,774

Investment

Companies

3,817,653

—

—

3,817,653

Investment

of

Cash

Collateral

for

Securities

Loaned

511,356

—

—

511,356

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(156,508)

—

—

(156,508)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Assets

($)

Investments

In

Securities:

†

Common

Stocks

465,931,196

—

—

465,931,196

Investment

Companies

1,189,237

—

—

1,189,237

Investment

of

Cash

Collateral

for

Securities

Loaned

4,566,967

—

—

4,566,967

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(42,218)

—

—

(42,218)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Assets

($)

Investments

In

Securities:

†

Common

Stocks

111,718,576

—

—

111,718,576

Investment

Companies

325,317

—

—

325,317

Investment

of

Cash

Collateral

for

Securities

Loaned

1,998,010

—

—

1,998,010

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(17,308)

—

—

(17,308)

BNY

Mellon

International

Equity

ETF

Assets

($)

Investments

In

Securities:

†

Common

Stocks

618,006,296

—

0

618,006,296

Preferred

Stocks

2,311,790

—

—

2,311,790

Warrants

—

—

—

—

Investment

Companies

256,068

—

—

256,068

Investment

of

Cash

Collateral

for

Securities

Loaned

513,181

—

—

513,181

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(100,970)

—

—

(100,970)

BNY

Mellon

Emerging

Markets

Equity

ETF

Assets

($)

Investments

In

Securities:

†

Common

Stocks

96,296,860

—

0

96,296,860

Preferred

Stocks

2,095,513

—

0

2,095,513

Investment

Companies

219,995

—

—

219,995

Investment

of

Cash

Collateral

for

Securities

Loaned

169,334

—

—

169,334

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(972)

—

—

(972)

167

†

Securities

deemed

as

Level

3

due

to

the

lack

of

observable

inputs

by

management

assessment.

The

following

is

a

reconciliation

of

Level

3

assets

for

which

significant

unobservable

inputs

were

used

to

determine

fair

value:

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-  Significant

Unobservable

Inputs

Total

BNY

Mellon

Core

Bond

ETF

Assets

($)

Investments

In

Securities:

†

Asset-Backed

Securities

—

8,233,268

—

8,233,268

Commercial

Mortgage-Backed

Securities

—

14,051,586

—

14,051,586

Corporate

Bonds

—

428,689,682

—

428,689,682

Foreign

Governmental

—

29,578,236

—

29,578,236

Municipal

Securities

—

6,708,616

—

6,708,616

Supranational

Bank

—

24,344,827

—

24,344,827

U.S.

Government

Agencies

—

471,133,018

—

471,133,018

U.S.

Treasury

Government

Securities

—

733,037,082

—

733,037,082

Investment

Companies

47,837,433

—

—

47,837,433

Investment

of

Cash

Collateral

for

Securities

Loaned

4,701,289

—

—

4,701,289

Liabilities

($)

TBA

Sale

Commitments

—

(180,551)

—

(180,551)

BNY

Mellon

High

Yield

Beta

ETF

Assets

($)

Investments

In

Securities:

†

Corporate

Bonds

—

264,330,757

—

264,330,757

Investment

Companies

3,970,666

—

—

3,970,666

Investment

of

Cash

Collateral

for

Securities

Loaned

11,503,526

—

—

11,503,526

Other

Financial

Instruments:

Futures

††

3,573

—

—

3,573

Centrally

Cleared

Credit

Default

Swaps

††

—

0

—

0

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(38,333)

—

—

(38,333)

†

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.

Common

Stocks

($)

BNY

Mellon

International

Equity

ETF

Balance

as

of

10/31/2023

†

0

Purchases/Issuances

—

Sales/Dispositions

—

Net

realized

gain

(loss)

—

Change

in

unrealized

appreciation

(depreciation)

—

Transfers

into

Level

3

—

Transfers

out

of

Level

3

—

Balance

as

of

4/30/2024

†

0

The

amount

of

total

net

gain

(loss)

for

the

period

included

in

earnings

attributable

to

the

change

in

unrealized

appreciation

(depreciation)

relating

to

investments

still

held

at

4/30/2024

—

Common

Stocks

($)

BNY

Mellon

Emerging

Markets

Equity

ETF

Balance

as

of

10/31/2023

†

0

Purchases/Issuances

—

Sales/Dispositions

—

Net

realized

gain

(loss)

—

Change

in

unrealized

appreciation

(depreciation)

—

Transfers

into

Level

3

—

Transfers

out

of

Level

3

—

Balance

as

of

4/30/2024

†

0

The

amount

of

total

net

gain

(loss)

for

the

period

included

in

earnings

attributable

to

the

change

in

unrealized

appreciation

(depreciation)

relating

to

investments

still

held

at

4/30/2024

—

168

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

(b)

Foreign

currency

transactions:

Each

relevant

fund

does

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 

April

30,

2024

,

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.

Any

non-

cash

collateral

received

cannot

be

sold

or

re-pledged

by

each

fund,

except

in

the

event

of

borrower

default.

The

securities

on

loan,

if

any,

are

also

disclosed

in

each

fund’s

Statement

of

Investments.

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

period

ended

April

30,

2024.

For

financial

reporting

purposes,

the

funds

elects

not

to

offset

assets

and

liabilities

subject

to

a

securities

lending

agreement,

if

any,

in

the

Statements

of

Assets

and

Liabilities.

Therefore,

all

qualifying

transactions

are

presented

on

a

gross

basis

in

the

Statements

of

Assets

and

Liabilities.

As

of

April

30,

2024,

the

funds

had

securities

lending

and

the

impact

of

netting

of

assets

and

liabilities

and

the

offsetting

of

collateral

pledged

or

received,

if

any,

based

on

contractual

netting/set-off

provisions

in

the

securities

lending

agreement

are

detailed

in

the

following

table:

Securities

Lending

Agreement

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

5,672

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

3,622

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

3,144

BNY

Mellon

International

Equity

ETF

597

BNY

Mellon

Emerging

Markets

Equity

ETF

411

BNY

Mellon

Core

Bond

ETF

6,078

BNY

Mellon

High

Yield

Beta

ETF

5,799

Assets

($)

Liabilities

($)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Securities

Lending

23,413,922

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

23,413,922

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(23,413,922)

†

—

Net

Amount

—

—

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Securities

Lending

11,518,681

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

11,518,681

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(11,518,681)

†

—

Net

Amount

—

—

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Securities

Lending

4,015,591

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

4,015,591

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(4,015,591)

†

—

Net

Amount

—

—

169

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

or

its

affiliates

are

defined

as

“affiliated”

under

the

Act.

(e)

Market

Risk:

The

value

of

the

securities

in

which

each

fund

invests

may

be

affected

by

political,

regulatory,

economic

and

social

developments,

and

developments

that

impact

specific

economic

sectors,

industries

or

segments

of

the

market.

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.

Foreign

Investment

Risk:

To

the

extent

each

relevant

fund

invests

in

foreign

securities,

each

fund’s

performance

will

be

influenced

by

political,

social

and

economic

factors

affecting

investments

in

foreign

issuers.

Special

risks

associated

with

investments

in

foreign

issuers

include

exposure

to

currency

fluctuations,

less

liquidity,

less

developed

or

less

efficient

trading

markets,

lack

of

comprehensive

company

information,

political

and

economic

instability

and

differing

auditing

and

legal

standards.

The

imposition

of

sanctions,

confiscations,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

United

States

and

other

governments,

or

problems

in

share

registration,

settlement

or

custody,

may

result

in

losses

and/or

may

impact

the

correlation

between

each

fund

and

index

performance.

Investments

denominated

in

foreign

currencies

are

subject

to

the

risk

that

such

currencies

will

decline

in

value

relative

to

the

U.S.

dollar

and

affect

the

value

of

these

investments

held

by

each

fund.

To

the

extent

securities

held

by

each

fund

trade

in

a

market

that

is

closed

when

the

exchange

on

which

each

fund’s

shares

trade

is

open,

there

may

be

deviations

between

the

current

price

of

a

security

and

the

last

quoted

price

for

the

security

in

the

closed

foreign

market.

These

deviations

could

result

in

each

fund

experiencing

premiums

or

discounts

greater

than

those

of

ETFs

that

invest

in

domestic

securities.

Emerging

Market

Risk:

The

securities

of

issuers

located

or

doing

substantial

business

in

emerging

market

countries

tend

to

be

more

volatile

and

less

liquid

than

the

securities

of

issuers

located

in

countries

with

more

mature

economies.

There

may

be

less

information

publicly

available

about

an

emerging

market

issuer

than

about

a

developed

market

issuer

and/

or

the

available

information

may

be

outdated

or

unreliable.

In

addition,

emerging

market

issuers

may

not

be

subject

to

accounting,

auditing,

legal

and

financial

reporting

standards

comparable

to

those

in

developed

markets,

potentially

making

it

difficult

to

evaluate

such

issuers.

Emerging

markets

generally

have

less

diverse

and

less

mature

economic

structures

and

less

stable

political

systems

than

those

of

developed

countries.

Additionally,

investments

in

these

countries

may

have

restrictions

that

make

it

difficult

or

impossible

for

each

fund

to

exercise

rights,

pursue

legal

remedies,

and

obtain

judgments

in

foreign

courts.

Investments

in

these

countries

may

be

subject

to

political,

economic,

legal,

market

and

currency

risks.

The

risks

may

include

less

protection

of

property

rights

and

uncertain

political

and

economic

policies,

greater

vulnerability

to

market

manipulation,

the

imposition

of

capital

controls

and/or

foreign

investment

limitations

by

a

Assets

($)

Liabilities

($)

BNY

Mellon

International

Equity

ETF

Securities

Lending

2,359,928

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

2,359,928

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(2,359,928)

†

—

Net

Amount

—

—

BNY

Mellon

Emerging

Markets

Equity

ETF

Securities

Lending

159,183

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

159,183

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(159,183)

†

—

Net

Amount

—

—

BNY

Mellon

Core

Bond

ETF

Securities

Lending

80,602,536

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

80,602,536

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(80,602,536)

†

—

Net

Amount

—

—

BNY

Mellon

High

Yield

Beta

ETF

Securities

Lending

12,111,314

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

12,111,314

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(12,111,314)

†

—

Net

Amount

—

—

†

The

value

of

the

related

collateral

received

by

each

fund

normally

exceeded

the

value

of

the

securities

loaded

by

each

fund

pursuant

to

the

securities

lending

agreement.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

See

Statement

of

Investments

for

detailed

information

regarding

the

collateral

received

for

open

securities

lending.

170

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

country,

nationalization

of

businesses

and

the

imposition

of

sanctions

by

other

countries,

such

as

the

United

States.

These

risks

may

impact

the

correlation

between

each

fund

and

index

performance.

Fixed-Income

Market Risk:

Each

of

BNY

Mellon

Core

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

invests

in

fixed-income

securities.

The

market

value

of

a

fixed-income

security

may

decline

due

to

general

market

conditions

that

are

not

specifically

related

to

a

particular

company,

such

as

real

or

perceived

adverse

economic

conditions,

changes

in

the

outlook

for

corporate

earnings,

changes

in

interest

or

currency

rates

or

adverse

investor

sentiment

generally.

The

fixed-income

securities

market

can

be

susceptible

to

increases

in

volatility

and

decreases

in

liquidity.

Liquidity

can

decline

unpredictably

in

response

to

overall

economic

conditions

or

credit

tightening.

Increases

in

volatility

and

decreases

in

liquidity

may

be

caused

by

a

rise

in

interest

rates

(or

the

expectation

of

a

rise

in

interest

rates).

High

Yield

Securities

Risk:

BNY

Mellon

High

Yield

Beta

ETF

invests

in

high

yield

securities.

High

yield

(“junk”)

securities

involve

greater

credit

risk,

including

the

risk

of

default,

than

investment

grade

securities,

and

are

considered

predominantly

speculative

with

respect

to

the

issuer's

ability

to

make

principal

and

interest

payments.

The

prices

of

high

yield

securities

can

fall

in

response

to

bad

news

about

the

issuer

or

its

industry,

or

the

economy

in

general,

to

a

greater

extent

than

those

of

higher

rated

securities.

Authorized

Participants,

Market

Makers

and

Liquidity

Providers

Risk:

Each

fund

has

a

limited

number

of

financial

institutions

that

may

act

as

Authorized

Participants,

which

are

responsible

for

the

creation

and

redemption

activity

for

each

fund.

In

addition,

there

may

be

a

limited

number

of

market

makers

and/or

liquidity

providers

in

the

marketplace.

To

the

extent

either

of

the

following

events

occur,

fund

shares

may

trade

at

a

material

discount

to

net

asset

value

and

possibly

face

delisting:

(i)

Authorized

Participants

exit

the

business

or

otherwise

become

unable

to

process

creation

and/or

redemption

orders

and

no

other

Authorized

Participants

step

forward

to

perform

these

services,

or

(ii)

market

makers

and/

or

liquidity

providers

exit

the

business

or

significantly

reduce

their

business

activities

and

no

other

entities

step

forward

to

perform

their

functions.

(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

net investment

income

quarterly.

BNY

Mellon

Core

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

normally

declare

and

pay

dividends

from

net

investment

income

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.

As

of

and

during

the period ended April

30,

2024,

the

funds

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

Each

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statements

of

Operations.

During

the period

ended April

30,

2024,

the

funds

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

four-year

period

ended October

31,

2023 remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities.

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. 

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,

2023.

Capital

Loss

Carryover

Short-Term

Losses

Long-Term

Losses

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

11,461,233

$

6,266,265

$17,727,498

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

6,152,170

4,995,072

11,147,242

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

6,321,163

5,123,505

11,444,668

BNY

Mellon

International

Equity

ETF

6,083,116

2,906,206

8,989,322

BNY

Mellon

Emerging

Markets

Equity

ETF

1,794,704

1,381,233

3,175,937

BNY

Mellon

Core

Bond

ETF

5,647,114

7,080,236

12,727,350

BNY

Mellon

High

Yield

Beta

ETF

1,535,041

943,335

2,478,376

171

The

table below

summarizes

each

fund’s

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

period

ended October

31,

2023.

The

tax

character

of

current

year

distributions

will

be

determined

at

the

end

of

the

current

fiscal

year.

Tax

Character

of

Distributions

Paid

NOTE

3—Management

Fee,

Sub-Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Pursuant

to

a

management

agreement

with

the

Adviser,

the

management

fee

is

payable

monthly

and 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

and

BNY

Mellon

High

Yield

Beta

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

pays

substantially

all

expenses

of

such

fund,

except

for

the

management

fees,

payments

under

the

fund’s

12b-1

plan

(if

any),

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

For

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

pays

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

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

pays

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

April

30,

2024,

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

April

30,

2024.

Reduction

in

expenses/Capital

Contributions

from

Adviser

Pursuant

to

undertakings

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

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-advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

each

fund

from

disclosing

the

sub-advisory

fee

paid

by

the

Adviser

Ordinary

Income

†

2023

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$20,945,065

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

5,046,679

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,210,938

BNY

Mellon

International

Equity

ETF

12,099,003

BNY

Mellon

Emerging

Markets

Equity

ETF

2,258,499

BNY

Mellon

Core

Bond

ETF

14,363,073

BNY

Mellon

High

Yield

Beta

ETF

11,992,910

†

Includes

short-term

capital

gain

distributions,

if

any.

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

High

Yield

Beta

ETF

0.22%

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

2,123

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

17,384

BNY

Mellon

High

Yield

Beta

ETF

—

172

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

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-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

pays

a

contractual

fee

rate

to

Mellon

and

INA

as

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

as

applicable

to

each

fund’s

sub-investment

advisory

agreement.

Sub-Investment

Advisory

Agreement

Fees

(b)

Each

fund

has

an

arrangement

with

The

Bank

of

New

York

Mellon

(the

“Custodian”),

a

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser, whereby

the

funds

will

receive

interest

income

or

be

charged

overdraft

fees

when

cash

balances

are

maintained.

For

financial

reporting

purposes,

each

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.

The

Board

members

are

not

compensated

directly

by

the

funds.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds.

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

period

ended

April

30,

2024.

TBA

Securities:

During

the

period

ended April

30,

2024,

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.

Rule

18f-4

under

the

Act

regulates

the

use

of

derivatives

transactions

for

certain

funds

registered

under

the

Act.

Each

relevant

fund

is

deemed

a

“limited”

derivatives

user

under

the

rule

and

is

required

to

limit

its

derivatives exposure

so

that

the total

notional

value

of

applicable

derivatives

does

not

exceed

10%

of

the

fund’s

net

assets,

and

is

subject

to

certain

reporting

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

High

Yield

Beta

ETF

0.11%

Management

Fees

Less/Excess

Reimbursement

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

—

$

344

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

15,192

—

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

3,624

—

BNY

Mellon

International

Equity

ETF

20,146

—

BNY

Mellon

Emerging

Markets

Equity

ETF

8,76

1

—

BNY

Mellon

Core

Bond

ETF

—

3,505

BNY

Mellon

High

Yield

Beta

ETF

49,792

—

Purchases

and

Sales

Purchases

Sales

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

338,565,931

$

339,212,994

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

379,899,758

380,456,241

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

55,356,034

55,201,051

BNY

Mellon

International

Equity

ETF

71,344,355

70,664,056

BNY

Mellon

Emerging

Markets

Equity

ETF

18,029,630

18,239,380

BNY

Mellon

Core

Bond

ETF

814,071,810

436,811,031

BNY

Mellon

High

Yield

Beta

ETF

118,196,765

117,972,584

173

requirements. Each

type

of

derivative

instrument

that

was

held

by

the

fund

during

the 

period

ended

April

30,

2024

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,

BNY

Mellon

Emerging

Markets

Equity ETF

and

BNY

Mellon

High

Yield

Beta

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 April

30,

2024,

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.

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

April

30,

2024

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

174

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

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

Statements

of

Assets

and

Liabilities

and

the

Statements

of

Operations,

respectively. 

Fair

value

of

derivative

instruments

as

of April

30,

2024

is

shown

below:

Statement

of

Assets

and

Liabilities

location:

The

effect

of

derivative

instruments

in

the

Statements of

Operations

during

the period

ended

April

30,

2024 is

shown

below:

The following

table summarizes

the

monthly

average market

value of

derivatives

outstanding

during

the period

ended

April

30,

2024:

Derivative

Assets

($)

Derivative

Liabilities

($)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

(a)

–

(156,508)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

(a)

–

(42,218)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

(a)

–

(17,308)

BNY

Mellon

International

Equity

ETF

Equity

risk

(a)

–

(100,970)

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(a)

–

(972)

BNY

Mellon

High

Yield

Beta

ETF

Interest

rate

risk

(a)

3,573

(38,333)

Credit

risk

(b)

0

–

(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.

Amount

of

realized

gain

(loss)

on

derivatives

($)

Underlying

Risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

1,006,865

—

1,006,865

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

361,736

—

361,736

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

93,007

—

93,007

BNY

Mellon

International

Equity

ETF

Equity

risk

304,199

—

304,199

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

28,334

—

28,334

BNY

Mellon

High

Yield

Beta

ETF

Interest

rate

risk

(35,903)

—

(35,903)

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

($)

Underlying

Risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

(54,761)

—

(54,761)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

(22,689)

—

(22,689)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

(5,152)

—

(5,152)

BNY

Mellon

International

Equity

ETF

Equity

risk

(2,159)

—

(2,159)

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

6,737

—

6,737

BNY

Mellon

High

Yield

Beta

ETF

Interest

rate

risk

(34,760)

—

(34,760)

175

The following

table summarizes

the

monthly

average

notional

value of

derivatives

outstanding

during

the period ended

April

30,

2024:

The

table

below

summarizes

the

gross

appreciation,

gross

depreciation

and

accumulated

net

unrealized

appreciation

(depreciation)

on

investments

for

each

fund

at

April

30,

2024.

At

April

30,

2024,

the

cost

of

investments

inclusive

of

derivative

contracts

for

federal

income

tax

purposes

was

substantially

the

same

as

the

cost

for

financial

reporting

purposes

(see

the

Statements

of

Investments).

NOTE

5—Shareholder

Transactions:

Each

fund

issues

and

redeems

its

shares

on

a

continuous

basis,

at

NAV,

to

certain

institutional

investors

known

as

“Authorized

Participants”

(typically

market

makers

or

other

broker-dealers)

only

in

a

large

specified

number

of

shares

called

a

Creation

Unit.

Except

when

aggregated

in

Creation

Units,

shares

of

each

fund

are

not

redeemable.

The

value

of

each

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for

a

fund

may

change.

Authorized

Participants

will

be

notified

of

such

change.

Creation

Unit

transactions

may

be

made

in-kind,

for

cash,

or

for

a

combination

of

securities

and

cash.

The

principal

consideration

for

creations

and

redemptions

for

each

fund

is

in-

kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

each

fund

only:

in

Creation

Units

on

a

continuous

basis

through

the

Distributor,

without

a

sales

load,

at

their

NAV

per

share

determined

after

receipt

of

an

order,

on

any

Business

Day,

in

proper

form

pursuant

to

the

terms

of

the

Authorized

Participant

Agreement.

Transactions

in

capital

shares

for

each

fund

are

disclosed

in

detail

in

the

Statements

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of

a

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Transaction

fees”

in

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

period

ended

April

30,

2024.

Average

Market

Value

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

futures-long

$

5,597,109

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

futures-long

1,763,338

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

futures-long

432,805

BNY

Mellon

International

Equity

ETF

Equity

risk

futures-long

2,589,187

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

futures-long

390,649

BNY

Mellon

High

Yield

Beta

ETF

Interest

rate

risk

futures-long

922,431

Interest

rate

risk

futures-short

1,743,531

Average

Notional

Value

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

swap

agreements-sell

protection

$

214,286

Accumulated

Net

Unrealized

Appreciation

(Depreciation)

Gross

Appreciation

Gross

(Depreciation)

Net

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

405,951,288

$

(46,946,518)

$

359,004,770

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

53,162,656

(16,826,165)

36,336,491

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

10,998,114

(8,522,623)

2,475,491

BNY

Mellon

International

Equity

ETF

88,173,954

(23,276,703)

64,897,251

BNY

Mellon

Emerging

Markets

Equity

ETF

17,663,995

(8,349,744)

9,314,251

BNY

Mellon

Core

Bond

ETF

561,510

(91,136,396)

(90,574,886)

BNY

Mellon

High

Yield

Beta

ETF

1,802,980

(5,641,15

3

)

(3,838,17

3

)

176

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

NOTE

6—Subsequent

Event:

Effective

on

or

about

July

1,

2024

(the

“Effective

Date”),

BNY

Mellon

High

Yield

Beta

ETF

(the

“fund”)

will

no

longer

be

an

“index

fund”

that

seeks

to

track

the

performance

of

its

benchmark

index

and

instead

will

be

managed

using

an

“active”

investment

strategy,

process

and

approach.

Accordingly,

as

of

the

Effective

Date,

the

fund’s

name

will

be

changed

to

“BNY

Mellon

High

Yield

ETF”.

Also

as

of

the

Effective

Date,

the

fund’s

investment

objective

will

be

to

seek

total

return

consisting

of

capital

appreciation

and

income,

and

the

fund

will

seek

to

provide

diversified

investment

exposure

to

the

U.S.

high

yield

bond

market.

While

the

fund

will

no

longer

be

an

index

fund

and

will

not

attempt

to

replicate

any

index,

the

fund

will

normally

invest

substantially

all

of

its

assets

in

bonds

that,

at

the

time

of

purchase,

are

included

in

the

Bloomberg

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”),

ETFs

providing

exposure

to

securities

included

in

the

Index

and

derivatives

with

economic

characteristics

similar

to

such

bonds,

ETFs

or

the

Index.

The

fund’s

derivatives

investments

may

include

futures,

total

return

swaps,

structured

notes

and

credit

default

swap

indexes.

Under

normal

circumstances,

the

fund

will

invest

at

least

80%

of

its

net

assets,

plus

any

borrowings

for

investment

purposes,

in

high

yield

securities

and

ETFs

providing

exposure

to

such

securities.

The

fund’s

policy

with

respect

to

the

investment

of

at

least

80%

of

its

net

assets

may

be

changed

by

the

fund’s

board,

upon

60

days’

prior

notice

to

shareholders.

The

fund

considers

high

yield

securities

to

be

securities

with

ratings

that

qualify

for

inclusion

in

the

Index.

Please

see

the

fund’s

prospectus

for

more

details.

In-Kind

Transactions

Cost

of

Securities

Received

Value

of

Securities

Delivered

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

482,706,390

$

284,591,138

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

168,173,593

211,961,915

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

18,531,449

19,274,341

BNY

Mellon

International

Equity

ETF

100,146,912

—

BNY

Mellon

Emerging

Markets

Equity

ETF

—

—

BNY

Mellon

Core

Bond

ETF

900,911,885

50,086,675

BNY

Mellon

High

Yield

Beta

ETF

228,342,529

18,218,736

177

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

EACH

FUND’S

MANAGEMENT

AND

SUB-INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

At

a

meeting

held

February

23,

2024,

the

Board

of

Trustees

of

the

Trust

(the

“Board”),

all

the

members

of

which

are

not

“interested

persons”

of

the

Trust

as

defined

in

the

Investment

Company

Act

of

1940,

as

amended,

evaluated

(i)

proposals

to

continue

the

Management

Agreement

(the

“Agreement”)

between

the

Trust

and

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”)

with

respect

to

the

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,

and

BNY

Mellon

High

Yield

Beta

ETF

(each

a

“fund”

and

collectively,

the

“funds”);

(ii)

proposals

to

continue

the

sub-investment

advisory

agreement

between

the

Adviser

and

Mellon

Investments

Corporation

(“Mellon”),

an

affiliate

of

the

Adviser,

on

behalf

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,

and

BNY

Mellon

Core

Bond

ETF;

and

(iii)

a

proposal

to

continue

the

sub-investment

advisory

agreement

between

the

Adviser

and

Insight

North

America

LLC

(“INA”),

an

affiliate

of

the

Adviser,

on

behalf

of

BNY

Mellon

High

Yield

Beta

ETF

(each

sub-investment

advisory

agreement

collectively

with

the

Agreement,

the

“Agreements”;

Mellon

and

INA

each,

a

“Sub-

Adviser”

and

collectively,

the

“Sub-Advisers”).

The

Trustees

also

met

separately

to

consider

the

Agreements.

The

Trustees

were

advised

by

legal

counsel

throughout

the

process.

To

evaluate

the

Agreements,

the

Board

requested,

and

the

Adviser

and

each

Sub-Adviser

provided,

such

materials

as

the

Board,

with

the

advice

of

counsel,

deemed

reasonably

necessary.

In

addition,

the

Board

considered

information

it

reviewed

at

other

Board

and

Board

committee

meetings.

In

deciding

whether

to

approve

the

Agreements,

the

Board

considered

various

factors,

including

the

(i)

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

each

Sub-Adviser

under

each

respective

Agreement,

(ii)

investment

performance

of

the

funds,

(iii)

profits

realized

by

the

Adviser

and

its

affiliates

from

its

relationship

with

the

funds,

(iv)

fees

charged

to

comparable

funds,

(v)

other

benefits

to

the

Adviser,

each

Sub-Adviser

and/or

their

affiliates,

and

(vi)

extent

to

which

economies

of

scale

would

be

shared

as

the

funds

grow.

The

Board

considered

the

Agreements

for

each

fund

and

the

engagement

of

the

Adviser

and

each

Sub-Adviser

separately.

The

Board

reviewed

reports

prepared

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data,

which

included

information

(i)

measuring

each

fund’s

performance

by

how

well

it

tracked

the

relevant

benchmark

index;

(ii)

comparing

each

fund’s

performance

with

the

performance

of

comparable

funds

selected

by

Broadridge

for

periods

ended

December

31,

2023;

and

(iii)

comparing

each

fund’s

actual

management

fees

and

total

expenses

with

those

of

comparable

funds

selected

by

Broadridge,

information

for

which

was

derived

in

part

from

fund

financial

statements

available

to

Broadridge

as

of

the

date

of

its

analysis.

Nature,

Extent

and

Quality

of

Services

The

Board

considered

the

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

each

Sub-Adviser.

In

doing

so,

the

Trustees

relied

on

their

prior

experience

in

overseeing

the

management

of

the

funds

and

the

materials

provided

prior

to

and

at

the

meeting.

The

Board

reviewed

the

Agreements

and

the

Adviser’s

and

each

Sub-Adviser’s

responsibilities

for

managing

investment

operations

of

each

of

the

applicable

funds

in

accordance

with

each

such

fund’s

investment

objective

and

policies,

and

applicable

legal

and

regulatory

requirements.

The

Board

appreciated

the

nature

of

the

funds

as

exchange-traded

funds

and

considered

the

background

and

experience

of

the

Adviser’s

and

each

Sub-Adviser’s

senior

management,

including

those

individuals

responsible

for

portfolio

management

and

regulatory

compliance

of

the

funds.

The

Board

also

considered

the

portfolio

management

resources,

structures

and

practices

of

the

Adviser

and

each

Sub-Adviser,

including

those

associated

with

monitoring

and

ensuring

each

applicable

fund’s

compliance

with

its

investment

objective

and

policies

and

with

applicable

laws

and

regulations.

The

Board

further

considered

information

about

each

Sub-Adviser’s

best

execution

procedures

as

well

as

the

Adviser’s

and

each

Sub-Adviser’s

overall

investment

management

business.

The

Board

looked

at

the

Adviser’s

general

knowledge

of

the

investment

management

business

and

that

of

its

affiliates,

including

each

Sub-Adviser.

With

respect

to

the

Sub-Advisers,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

services

provided

by

each

Sub-

Adviser.

Investment

Performance

The

Board

then

reviewed

the

funds’

performance,

noting

that

the

distinctive

indexed

investment

objective

of

each

of

the

funds

made

analysis

of

investment

performance,

in

absolute

terms,

less

of

a

priority

than

that

which

normally

attaches

to

the

performance

of

actively-managed

funds.

Instead,

the

Board

focused

on

the

extent

to

which

each

fund

achieved

its

objective

as

a

passively-

managed

index

fund.

The

Board

reviewed

information

regarding

the

funds’

index

tracking.

Profits

Realized

by

the

Adviser

The

Board

considered

the

profitability

of

the

advisory

arrangement

with

the

funds

to

the

Adviser

and

its

affiliates.

The

Board

had

the

opportunity

to

discuss

with

representatives

of

the

Adviser

the

process

and

methodology

used

to

calculate

profitability.

Fees

Charged

to

Comparable

Funds

The

Board

evaluated

each

fund’s

unitary

fee

through

review

of

comparative

information

with

respect

to

fees

paid

by

similar

funds

-

i.e.,

exchange-traded

funds

tracking

similar

indices.

The

Board

reviewed

the

universe

of

similar

exchange-traded

funds

for

each

fund

based

upon

data

independently

obtained

from

Broadridge

and

related

comparative

information

for

similar

exchange-traded

funds.

In

doing

so,

the

Board

used

a

fund-by-fund

analysis

of

178

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

EACH

FUND’S

MANAGEMENT

AND

SUB-INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

(continued)

the

data.

In

certain

instances,

as

considered

appropriate

by

the

Board,

the

Board

explored

with

management

the

differences

between

a

fund’s

fee

and

fees

paid

by

similar

funds.

The

Board

considered

the

fee

paid

to

each

Sub-Adviser

in

relation

to

the

fee

paid

to

the

Adviser

by

each

fund

and

the

respective

services

provided

by

each

Sub-Adviser

and

the

Adviser.

The

Board

also

took

into

consideration

that

each

Sub-Adviser’s

fee

is

paid

by

the

Adviser

and

not

the

funds.

Other

Benefits

The

Board

also

considered

whether

the

Adviser,

each

Sub-Adviser

or

their

affiliates

benefited

in

other

ways

from

their

relationship

with

the

funds,

noting

that

neither

the

Adviser

nor

each

Sub-

Adviser

maintains

soft-dollar

arrangements

in

connection

with

the

funds’

brokerage

transactions.

The

Board

noted

The

Bank

of

New

York

Mellon

Corporation

may

derive

certain

benefits

from

an

incremental

growth

in

its

businesses

that

may

possibly

result

from

the

availability

of

the

funds

to

clients.

Economies

of

Scale

The

Board

reviewed

information

regarding

economies

of

scale

or

other

efficiencies

that

may

result

as

each

fund’s

assets

grow

in

size.

The

Board

noted

that

the

advisory

fee

rate

for

each

fund

did

not

provide

for

breakpoints

as

assets

of

the

fund

increases.

However,

the

Board

further

noted

the

Adviser’s

assertion

that

future

economies

of

scale

(among

several

factors)

had

been

taken

into

consideration

for

the

funds

by

fixing

relatively

low

advisory

fees,

effectively

sharing

the

benefits

of

lower

fees

with

the

funds

from

inception.

The

Adviser

also

asserted

that

one

of

the

benefits

of

the

unitary

fee

was

to

provide

an

unvarying

expense

structure,

which

could

be

lost

or

diluted

with

the

addition

of

breakpoints.

The

Board

noted

that

it

intends

to

continue

to

monitor

fees

as

the

funds

grow

in

size

and

assess

whether

fee

breakpoints

may

be

warranted.

Conclusion

After

weighing

the

foregoing

factors,

none

of

which

was

dispositive

in

itself

and

may

have

been

weighed

differently

by

each

Trustee,

the

Board

approved

the

continuation

of

the

Agreements

for

each

applicable

fund.

In

approving

the

continuance

of

the

Agreements,

the

Board

found

that

the

terms

of

the

Agreements

are

fair

and

reasonable

and

that

the

continuance

of

the

Agreements

is

in

the

best

interests

of

the

applicable

fund

and

its

shareholders.

179

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

The

funds

of

the

Trust

have

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

reasonably

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

reasonably

foreseeable

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

generally

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

November

2023

meeting,

the

Board

received

a

written

report

prepared

by

the

Program

Administrator,

for

the

period

October

1,

2022

to

September

30,

2023,

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

October

1,

2022

to

September

30,

2023,

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.

For

More

Information

2024

BNY

Mellon

Securities

Corporation

ETFSA0424

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

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

High

Yield

Beta

ETF

BKHY

BNY

Mellon

ETF

Trust

SEMI-ANNUAL

REPORT

April

30,

2024

BNY

Mellon

Concentrated

International

ETF

IMPORTANT

NOTICE

–

UPCOMING

CHANGES

TO

ANNUAL

AND

SEMI-ANNUAL

REPORTS 

The

Securities

and

Exchange

Commission

(the

“SEC”)

has

adopted

rule

and

form

amendments

that

will

result

in

changes

to

the

design

and

delivery

of

annual

and

semi-annual

fund

reports

(“Reports”).

Beginning

in

July

2024,

Reports

will

be

streamlined

to

highlight

key

information.

Certain

information

currently

included

in

Reports,

including

financial

statements,

will

no

longer

appear

in

the

Reports

but

will

be

available

online,

delivered

free

of

charge

to

shareholders

upon

request,

and

filed

with

the

SEC. 

If

you

previously

elected

to

receive

the

fund’s

Reports

electronically,

you

will

continue

to

do

so.

Otherwise,

you

will

receive

paper

copies

of

the

fund’s

re-designed

Reports

by

USPS

mail

in

the

future.

If

you

would

like

to

receive

the

fund’s

Reports

(and/or

other

communications)

electronically

instead

of

by

mail,

please

contact

your

financial

advisor.

Contents

The

Fund

Save

time.

Save

paper.

View

your

next

shareholder

report

online

as

soon

as

it’s

available.

Log

into

www.

im.bnymellon.com

and

sign

up

for

eCommunications.

It’s

simple

and

only

takes

a

few

minutes.

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

fund’s

portfolio

is

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

Discussion

of

Fund

Performance

3

Understanding

Your

Fund’s

Expenses

7

Statement

of

Investments

8

Statement

of

Assets

and

Liabilities

11

Statement

of

Operations

12

Statement

of

Changes

in

Net

Assets

13

Financial

Highlights

14

Notes

to

Financial

Statements

15

Information

About

the

Review

and

Renewal

of

the

Fund’s

Management

and

Sub-Investment

Advisory

Agreements

24

Liquidity

Risk

Management

Program

27

FOR

MORE

INFORMATION

Back

Cover

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

3

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

Fraser

Fox,

Jane

Henderson,

Roy

Leckie,

Charlie

Macquaker

and

Maxim

Skorniakov,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Walter

Scott

&

Partners

Limited.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

Concentrated

International

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

15.35%.

1

In

comparison,

the

fund’s

benchmark,

the

Morgan

Stanley

Capital

International

(MSCI)

Europe,

Australasia

and

Far

East

(EAFE

®

)

Index

(the

“Index”),

produced

a

total

return

of

18.63%

for

the

same

period.

2

International

equity

markets

gained

ground

during

the

reporting

period

as

economic

growth

remained

generally

positive,

inflation

eased

and

central

banks

slowed

or

paused

monetary

tightening

policies.

The

fund

underperformed

the

Index,

primarily

due

to

relative

weakness

in

a

few

Canadian

and

Asian

holdings.

The

Fund’s

Investment

Approach

The

fund

seeks

long-term

total

return.

To

pursue

its

goal,

the

fund

normally

invests

primarily

in

equity

securities

of

foreign

companies

located

in

developed

markets,

excluding

the

United

States.

The

fund

considers

“developed

markets”

to

be

countries

included

in

the

Index

and

Canada.

“Foreign

companies”

are

companies:

(i)

that

are

organized

under

the

laws

of

a

foreign

country;

(ii)

whose

principal

trading

market

is

in

a

foreign

country;

or

(iii)

that

have

a

majority

of

their

assets,

or

that

derive

a

majority

of

their

revenue

or

profits

from

businesses,

investments

or

sales,

outside

the

United

States.

The

fund

ordinarily

invests

in

at

least

three

countries

and

is

not

geographically

limited

in

its

investment

selection.

The

fund

invests

principally

in

common

stocks,

including

common

stocks

listed

on

foreign

exchanges.

The

fund

may

invest

in

equity

securities

of

companies

of

any

market

capitalization.

In

addition,

the

fund

may,

from

time

to

time,

invest

a

significant

portion

(more

than

20%)

of

its

total

assets

in

equity

securities

of

companies

in

certain

sectors

or

located

in

particular

regions

or

countries.

Economic

Growth

Drives

Equity

Gains

International

equities

generally

appreciated

during

the

reporting

period

as

interest-rate

hikes

implemented

by

central

banks

gained

traction

in

the

fight

against

inflation.

In

the

eurozone,

inflation

declined

to

2.4%

in

November

2023,

down

from

a

peak

of

over

10%

a

year

earlier.

After

climbing

back

to

2.9%

in

December,

it

eased

again

over

the

ensuing

months,

once

more

reaching

2.4%

as

of

the

end

of

the

reporting

period.

Most

other

developed

economies

experienced

similar

trends,

prompting

central

banks

to

pause

or

slow

the

pace

of

interest-rate

hikes

designed

to

combat

inflation.

At

the

same

time,

most

developed

economies

continued

to

produce

positive

growth

despite

high

interest

rates,

although

eurozone

growth

was

lackluster

compared

with

the

United

States.

Although

Chinese

economic

data

improved,

the

woes

of

some

of

the

weaker

players

in

the

property

market,

along

with

Sino-Western

political

and

economic

rifts,

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

4

dampened

sentiment

toward

China-related

stocks.

Nevertheless,

stocks

in

most

of

the

world

generally

responded

positively

to

this

economic

backdrop,

with

the

strongest

returns

seen

in

cyclical,

growth-oriented

sectors,

including

information

technology,

industrials

and

financials.

Conversely,

interest-rate-sensitive

and

traditionally

defensive

sectors

lagged,

with

consumer

staples

and

utilities

trailing

the

Index

average

by

a

significant

margin.

The

energy

sector

fared

worst,

hurt

by

falling

oil

and

gas

prices,

as

well

as

geopolitical

challenges.

Stock

Selections

Drive

Outperformance

As

we

have

noted

in

previous

reports,

the

fund’s

sector

and

country

exposures

are

a

function

of

individual

stock

selections,

and

performance

within

sectors

and

countries

is

determined

by

those

individual

selections.

It

is

also

important

to

point

out

that

the

fund

does

not

adopt

a

deliberate

bias

in

favor

of

growth

over

value;

rather

we

seek

solely

to

invest

the

fund’s

assets

in

quality

businesses

that

can

deliver

sustainable,

long-term

growth

based

on

all

of

a

company’s

fundamental

aspects,

including

growth,

profitability,

return

structure,

balance

sheet

strength,

sustainability

credentials

and

valuation.

The

fund’s

underperformance

relative

to

the

Index

during

the

reporting

period

was

caused

by

the

disappointing

performance

of

certain

individual

holdings,

primarily

in

Canada

and

Asia.

In

Canada,

shares

in

convenience

store

company

Alimentation

Couche-Tard,

Inc.

lagged

after

the

company

reported

weaker-than-expected

demand

in

its

third

quarter

2023

report.

In

Asia,

shares

in

Hong-Kong-based

insurers

AIA

Group

Ltd.

and

Prudential

PLC

were

hurt

by

negative

sentiment

toward

China.

In

Japan,

shares

in

air

conditioning

company

Daikin

Industries

Ltd.

lost

ground

after

the

company

reported

weakness

in

its

European

and

U.S.

markets.

On

the

positive

side,

shares

in

Taiwan

Semiconductor

Manufacturing

Company

Co.

Ltd.

(“TSMC”)

rose

sharply,

reflecting

the

company’s

strong

outlook

for

2024,

with

artificial

intelligence

infrastructure-related

demand

expected

to

drive

growth.

Other

strong-performing

information

technology

holdings

included

Netherlands-

based

semiconductor

lithography

company

ASML

Holding

NV

and

Germany-based

enterprise

software

business

SAP

SE.

In

other

sectors,

shares

in

Denmark-based

pharmaceutical

company

Novo

Nordisk

A/S

and

Japan-based

special

chemicals

producer

Shin-Etsu

Chemical

Co.

Ltd.

significantly

outperformed

the

Index.

Monitoring

Developments

in

Interest

Rates

and

Inflation

While

inflation

remains

an

issue

in

the

United

States,

the

world’s

largest

economy

continues

to

display

reasonably

strong

growth

despite

high

interest

rates.

Growth

has

lagged

in

Europe,

but

with

inflation

slowing

and

labor

markets

remaining

tight,

some

of

the

economic

clouds

seem

to

be

lifting,

albeit

slowly,

and

the

European

Central

Bank

appears

close

to

cutting

interest

rates.

In

Japan,

with

wages

continuing

to

rise,

5

there

are

hopes

of

a

sustained

move

toward

real

wage

growth,

which

may

help

propel

the

economy

out

of

its

deflationary

orbit.

The

Japanese

market

may

also

be

supported

by

corporate

governance

reforms

and

the

beneficial

impact

on

competitiveness

of

yen

weakness,

although

currency

factors

are

likely

to

prove

dilutive

of

returns

for

overseas

investors.

A

number

of

Japanese

companies

have

endured

difficult

conditions

in

China

but

are

now

showing

signs

of

improvement.

Indeed,

while

China

remains

on

a

slower

growth

trajectory

and

Sino-Western

tensions

continue

to

run

high,

China

is

still

intertwined

with

the

global

economy

and

offers

opportunities

for

international

and

domestic

companies

alike.

Our

optimistic

long-term

view

of

equity

returns

is

not

founded

on

making

macro

calls

but

on

the

fundamental

merits

of

each

company

held

in

the

fund.

Some

are

continuing

to

navigate

macro

headwinds,

but

we

believe

all

remain

well

positioned

to

take

advantage

of

long-term

trends

that

will

outlast

any

short-term

market

or

economic

shifts.

As

of

April

30,

2024,

the

fund

held

materially

overweight

exposure,

relative

to

the

Index,

to

the

information

technology

and

health

care

sectors,

and

more

mildly

overweight

positions

in

consumer

staples

and

consumer

discretionary.

As

of

the

same

date,

the

fund

held

significantly

underweight

exposure

to

financials

and

no

exposure

to

communication

services.

On

a

geographic

basis,

the

fund

held

an

out-of-

Index

position

in

Canada

and

underweight

exposure

to

Japan,

relative

to

the

Index.

The

portfolio’s

sector

and

country

exposures

are

entirely

a

function

of

bottom-up

stock

selection.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

Exchange-Traded

Funds

(“ETFs”)

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

Lipper

Inc.

—

The

MSCI

EAFE

®

Index

(Europe,

Australasia,

Far

East)

is

a

free

float-adjusted,

market

capitalization-weighted

index

that

is

designed

to

measure

the

equity

market

performance

of

developed

markets,

excluding

the

U.S.

and

Canada.

It

reflects

reinvestment

of

net

dividends

and,

where

applicable,

capital

gain

distributions.

Investors

cannot

invest

directly

in

any

index.

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.

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.

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

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

6

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.

The

fund

is

non-diversified,

which

means

that

the

fund

may

invest

a

relatively

high

percentage

of

its

assets

in

a

limited

number

of

issuers.

Therefore,

the

fund’s

performance

may

be

more

vulnerable

to

changes

in

the

market

value

of

a

single

issuer

or

group

of

issuers

and

more

susceptible

to

risks

associated

with

a

single

economic,

political

or

regulatory

occurrence

than

a

diversified

fund.

UNDERSTANDING

YOUR

FUND’S

EXPENSES

(Unaudited)

7

As

a

shareholder

of

the

fund,

you

pay

ongoing

expenses,

such

as

management

fees

and

other

expenses.

Using

the

information

below,

you

can

estimate

how

these

expenses

affect

your

investment

and

compare

them

with

the

expenses

of

other

funds.

For

more

information,

see

your

fund’s

prospectus

or

talk

to

your

financial

adviser.

Actual

Expenses

The

table

below

shows

the

expenses

you

would

have

paid

on

a

$1,000

investment

in

the

fund

from

November

1,

2023

to

April

30,

2024

.

The

information

under

each

column

in

the

table

below

entitled

“Actual”

provides

information

about

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

the

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

Securities

and

Exchange

Commission

(“SEC”)

has

established

guidelines

to

help

investors

assess

fund

expenses.

The

information

under

each

column

in

the

table

entitled

“Hypothetical”

provides

information

about

hypothetical

account

values

and

hypothetical

expenses

based

on

the

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

fund

with

those

of

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

fund

with

those

of

other

funds.

In

addition,

if

these

transactional

costs

were

included,

your

costs

would

have

been

higher.

For

the

six

months

ended

April

30,

2024

(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

April

30,

2024

.

Expenses

are

calculated

by

multiplying

the

fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

182/366

(to

reflect

the

one-half

period).

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)

1,000.00

1,000.00

1,153.50

1,020.89

4.28

4.02

0.80

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

8

Description

Shares

Value

($)

Common

Stocks

–

98.4%

Australia

–

2.9%

CSL

Ltd.

18,565

3,328,420

Canada

–

8.2%

Alimentation

Couche-Tard,

Inc.

111,626

6,186,804

Canadian

National

Railway

Co.

26,770

3,249,191

9,435,995

Denmark

–

8.0%

Coloplast

A/S,

Class

B

25,145

3,045,219

Novo

Nordisk

A/S,

Class

B

48,136

6,216,651

9,261,870

Finland

–

2.5%

Kone

OYJ,

Class

B

59,924

2,928,955

France

–

14.8%

Air

Liquide

SA

22,088

4,334,484

L'Oréal

SA

7,019

3,293,281

LVMH

Moet

Hennessy

Louis

Vuitton

SE

5,311

4,389,228

TotalEnergies

SE

70,356

5,150,015

17,167,008

Germany

–

10.4%

adidas

AG

14,100

3,406,764

Merck

KGaA

24,985

3,971,608

SAP

SE

25,770

4,667,053

12,045,425

Hong

Kong

–

7.2%

AIA

Group

Ltd.

387,804

2,865,388

CLP

Holdings

Ltd.

423,095

3,337,078

Prudential

PLC

241,540

2,115,728

8,318,194

Ireland

–

3.2%

Experian

PLC

91,094

3,692,523

Japan

–

13.7%

Daikin

Industries

Ltd.

18,800

2,592,055

Hoya

Corp.

28,200

3,302,501

Keyence

Corp.

8,800

3,922,519

Shin-Etsu

Chemical

Co.

Ltd.

91,800

3,605,878

SMC

Corp.

4,700

2,488,945

15,911,898

Netherlands

–

4.0%

ASML

Holding

NV

5,170

4,594,366

9

Description

Shares

Value

($)

Common

Stocks

–

98.4%

(continued)

Singapore

–

3.1%

CapitaLand

Ascendas

REIT

(a)

1,880,000

3,580,821

Spain

–

3.6%

Amadeus

IT

Group

SA

65,690

4,189,444

Switzerland

–

7.6%

Nestle

SA

31,960

3,205,561

Roche

Holding

AG

10,481

2,515,212

SGS

SA

35,489

3,129,441

8,850,214

Taiwan

–

4.2%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR

35,250

4,841,235

United

Kingdom

–

5.0%

Compass

Group

PLC

206,841

5,768,773

Total

Common

Stocks

(cost

$105,040,686)

113,915,141

Investment

Companies

–

1.2%

Registered

Investment

Companies

–

1.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(b)(c)

(cost

$1,368,554)

1,368,554

1,368,554

Total

Investments

(cost

$106,409,240)

99.6%

115,283,695

Cash

and

Receivables

(Net)

0.4%

454,850

Net

Assets

100.0%

115,738,545

ADR—American

Depositary

Receipt

REIT—Real

Estate

Investment

Trust

(a)

Investment

in

a

real

estate

investment

trust.

(b)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

(c)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

STATEMENT

OF

INVESTMENTS

(continued)

10

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Health

Care

19.4

Industrials

15.5

Information

Technology

15.6

Consumer

Discretionary

15.4

Consumer

Staples

10.9

Materials

6.8

Energy

4.5

Financials

4.3

Real

Estate

3.1

Utilities

2.9

Registered

Investment

Companies

1.2

99.6

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

1.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,327,741

3,287,450

(3,246,637)

1,368,554

46,061

Total

–

1.2%

1,327,741

3,287,450

(3,246,637)

1,368,554

46,061

1

Includes

reinvested

dividends/distributions.

STATEMENT

OF

ASSETS

AND

LIABILITIES

April

30,

2024

(Unaudited)

11

See

Notes

to

Financial

Statements

Cost

Value

Assets

($):

Investments

in

securities—See

Statement

of

Investments:

–

Unaffiliated

issuers

105,040,686

113,915,141‌

Affiliated

issuers

1,368,554

1,368,554‌

Cash

denominated

in

foreign

currency

137,384

136,837‌

Tax

reclaim

receivable—Note

2(b)

233,704‌

Dividends

receivable

157,754‌

115,811,990‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—

Note

3(b)

73,445‌

73,445‌

Net

Assets

($)

115,738,545‌

Composition

of

Net

Assets

($):

Paid-in

capital

105,947,457‌

Total

distributable

earnings

(loss)

9,791,088‌

Net

Assets

($)

115,738,545‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

2,350,001‌

Net

asset

value

per

share

49.25‌

Market

price

per

share

48.99‌

STATEMENT

OF

OPERATIONS

Six

Months

Ended

April

30,

2024

(Unaudited)

12

See

Notes

to

Financial

Statements

Investment

Income

($):

Income:

Cash

dividends

(net

of

$148,601

foreign

taxes

withheld

at

source):

Unaffiliated

issuers

1,215,356‌

Affiliated

issuers

46,061‌

Total

Income

1,261,417‌

Expenses:

Management

fee—Note

3(a)

415,643‌

Total

Expenses

415,643‌

Net

Investment

Income

845,774‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

109,776‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

10,438,694‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

10,548,470‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

11,394,244‌

STATEMENT

OF

CHANGES

IN

NET

ASSETS

13

See

Notes

to

Financial

Statements

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

Operations

($):

Net

investment

income

845,774‌

876,071‌

Net

realized

gain

(loss)

on

investments

109,776‌

(16,328‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

10,438,694‌

7,432,115‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

11,394,244‌

8,291,858‌

Distributions

($):

Distributions

to

shareholders

(826,298‌)

(281,640‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

36,355,864‌

4,522,946‌

Transaction

fees—Note

5

981‌

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

36,356,845‌

4,522,946‌

Total

Increase

(Decrease)

in

Net

Assets

46,924,791‌

12,533,164‌

Net

Assets

($):

Beginning

of

Period

68,813,754‌

56,280,590‌

End

of

Period

115,738,545‌

68,813,754‌

Changes

in

Shares

Outstanding:

Shares

sold

750,000‌

100,000‌

Net

Increase

(Decrease)

in

Shares

Outstanding

750,000‌

100,000‌

FINANCIAL

HIGHLIGHTS

14

The

following

table

describes

the

performance

for

the

fiscal

periods

indicated

and

these

figures

have

been

derived

from

the

fund’s

financial

statements.

See

Notes

to

Financial

Statements

Six

Months

Ended

April

30,

2024

(Unaudited)

Year

Ended

October

31,

2023

For

the

Period

from

December

8,

2021

(a)

to

October

31,

2022

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

43.01‌

37.52‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

0.40‌

0.56‌

0.30‌

Net

realized

and

unrealized

gain

(loss)

on

investments

6.20‌

5.12‌

(12.78‌)

Total

from

Investment

Operations

6.60‌

5.68‌

(12.48‌)

Distributions:

–

–

–

Dividends

from

net

investment

income

(0.36‌)

(0.19‌)

—‌

Transaction

fees

(b)

0.00‌

(c)

—‌

0.00‌

(c)

Net

asset

value,

end

of

period

49.25‌

43.01‌

37.52‌

Market

price,

end

of

period

48.99‌

43.32‌

37.12‌

Net

Asset

Value

Total

Return

(%)

(d)

15.35‌

15.14‌

(24.96‌)

(e)

Market

Price

Total

Return

(%)

(d)

13.92‌

17.23‌

(25.76‌)

(e)

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.80‌

(f)

0.80‌

0.80‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

1.63‌

(f)

1.23‌

0.82‌

(f)

Portfolio

Turnover

Rate

(g)

5.31‌

2.37‌

–‌

Net

Assets,

end

of

period

($

x

1,000)

115,739‌

68,814‌

56,281‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

Amount

represents

less

than

$0.01

per

share.

(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)

The

net

asset

value

total

return

and

the

market

price

total

return

is

calculated

from

fund

inception.

The

inception

date

is

the

first

date

the

fund

was

available

on

NYSE

Arca,

Inc.

(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.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

15

NOTE

1—Organization:

BNY

Mellon

Concentrated

International

ETF (the “fund”) is a

separate

non-

diversified series

of

BNY

Mellon

ETF

Trust

(the

“Trust”),

which is

registered as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-ended

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

thirteen

series,

including

the

fund.

The

investment

objective

of

the

fund

is

to

seek

long-term

total

return.

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY

Mellon”),

serves

as

the

fund’s

investment

adviser. Walter

Scott

&

Partners

Limited (the

“Sub-Adviser”),

an

indirect wholly-

owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

the

fund’s

sub-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.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

the

fund’s

shares.

The

shares

of

the

fund

are

referred

to

herein

as

“Shares”

or

“Fund

Shares.”

Fund

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

the

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

the

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

fund.

Individual

Fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

Fund

Shares

trade

at

market

prices

rather

than

at

NAV,

Fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask). 

NOTE

2—Significant

Accounting

Policies: 

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

SEC

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants. The

fund

is an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies. The

fund’s

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

16

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

series.

Expenses

directly

attributable

to

each

series

are

charged

to

that

series’

operations;

expenses

which

are

applicable

to

all

series

are

allocated

among

them

on

a

pro

rata

basis.

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

fund’s

maximum

exposure

under

these

arrangements

is

unknown.

The

fund

does

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

the

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

fund’s

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

the

fund’s

investments

are

as

follows:

The

Trust’s Board

of

Trustees

(the

“Board”)

has

designated

the

Adviser

as

the

fund’s

valuation

designee

to

make

all

fair

value

determinations

with

respect

to

the

fund’s

portfolio

of

investments,

subject

to

the

Board’s

oversight

and

pursuant

to

Rule

2a-5

under

the

Act.

17

Investments

in

equity

securities,

including

ETFs

(but

not

including

investments

in

other

open-end

registered

investment

companies),

generally

are

valued

at

the

last

sales

price

on

the

day

of

valuation

on

the

securities

exchange

or

national

securities

market

on

which

such

securities

primarily

are

traded.

Securities

listed

on

the

National

Association

of

Securities

Dealers

Automated

Quotation

System

(“NASDAQ”)

for

which

market

quotations

are

available

will

be

valued

at

the

official

closing

price.

If

there

are

no

transactions

in

a

security,

or

no

official

closing

prices

for

a

NASDAQ

market-listed

security

on

that

day,

the

security

will

be

valued

at

the

average

of

the

most

recent

bid

and

asked

prices.

Bid

price

is

used

when

no

asked

price

is

available.

Open

short

positions

for

which

there

is

no

sale

price

on

a

given

day

are

valued

at

the

lowest

asked

price.

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. 

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

fair

value

accurately,

they are

valued

at

fair

value

as

determined

in

good

faith

based

on

procedures

approved

by

the

Board.

Fair

value

of

investments

may

be

determined

by

valuation

designee

using

such

information

as

it

deems

appropriate

under

the

circumstances.

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.

The

table

below

summarizes

the

inputs

used

as

of April

30,

2024

in

valuing

the

fund’s

investments:

Fair

Value

Measurements

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Total

Assets

($)

Investments

In

Securities:

†

Common

Stocks

113,915,141

—

—

113,915,141

Investment

Companies

1,368,554

—

—

1,368,554

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

18

(b)

Foreign

currency

transactions:

The

fund

does

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

fund’s

books

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

the

value

of

assets

and

liabilities

other

than

investments

resulting

from

changes

in

exchange

rates.

Foreign

currency

gains

and

losses

on

foreign

currency

transactions

are

also

included

with

net

realized

and

unrealized

gain

or

loss

on

investments.

Foreign

Taxes:

The

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

fund

invests.

These

foreign

taxes,

if

any,

are

paid

by

the

fund

and

are

reflected

in

the

Statement

of

Operations,

if

applicable.

Foreign

taxes

payable

or

deferred

or

those

subject

to

reclaims

as

of

April

30,

2024,

if

any,

are

disclosed

in

the

fund’s

Statement

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.

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

or

its

affiliates are

defined

as

“affiliated”

under

the

Act. 

(e)

Market

Risk:

The

value

of

the

securities

in

which

the

fund

invests

may

be

affected

by

political,

regulatory,

economic

and

social

developments,

and

developments

that

impact

specific

economic

sectors,

industries

or

segments

of

the

market.

In

addition,

turbulence

in

financial

markets

and

reduced

liquidity

in

equity,

credit

and/

or

fixed

income

markets

may

negatively

affect

many

issuers,

which

could

adversely

affect

the

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.

19

Foreign

Investment

Risk:

Because

the

fund

invests

in

foreign

securities,

the

fund’s

performance

will

be

influenced

by

political,

social

and

economic

factors

affecting

investments

in

foreign

issuers.

Special

risks

associated

with

investments

in

foreign

issuers

include

exposure

to

currency

fluctuations,

less

liquidity,

less

developed

or

less

efficient

trading

markets,

lack

of

comprehensive

company

information,

political

and

economic

instability

and

differing

auditing

and

legal

standards.

The

imposition

of

sanctions,

confiscations,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

United

States

and

other

governments,

or

problems

in

share

registration,

settlement

or

custody,

may

result

in

losses

for

the

fund.

Investments

denominated

in

foreign

currencies

are

subject

to

the

risk

that

such

currencies

will

decline

in

value

relative

to

the

U.S.

dollar

and

affect

the

value

of

these

investments

held

by

the

fund.

To

the

extent

securities

held

by

the

fund

trade

in

a

market

that

is

closed

when

the

exchange

on

which

the

fund’s

shares

trade

is

open,

there

may

be

deviations

between

the

current

price

of

a

security

and

the

last

quoted

price

for

the

security

in

the

closed

foreign

market.

These

deviations

could

result

in

the

fund

experiencing

premiums

or

discounts

greater

than

those

of

ETFs

that

invest

in

domestic

securities.

To

the

extent

the

fund’s

investments

are

focused

in

a

limited

number

of

foreign

countries,

the

fund’s

performance

could

be

more

volatile

than

that

of

more

geographically

diversified

funds.

Non-Diversification

Risk:

The

fund

is

non-diversified,

which

means

that

the

fund

may

invest

a

relatively

high

percentage

of

its

assets

in

a

limited

number

of

issuers.

Therefore,

the

fund’s

performance

may

be

more

vulnerable

to

changes

in

the

market

value

of

a

single

issuer

or

group

of

issuers

and

more

susceptible

to

risks

associated

with

a

single

economic,

political

or

regulatory

occurrence

than

a

diversified

fund.

Authorized

Participants,

Market

Makers

and

Liquidity

Providers Risk:

The

fund

has

a

limited

number

of

financial

institutions

that

may

act

as

Authorized

Participants, which

are

responsible

for

the

creation

and

redemption

activity

for

the

fund.

In

addition,

there

may

be

a

limited

number

of

market

makers

and/or

liquidity

providers

in

the

marketplace.

To

the

extent

either

of

the

following

events

occur,

fund

shares

may

trade

at

a

material

discount

to

net

asset

value

and

possibly

face

delisting:

(i)

Authorized

Participants

exit

the

business

or

otherwise

become

unable

to

process

creation

and/or

redemption

orders

and

no

other

Authorized

Participants

step

forward

to

perform

these

services,

or

(ii)

market

makers

and/or

liquidity

providers

exit

the

business

or

significantly

reduce

their

business

activities

and

no

other

entities

step

forward

to

perform

their

functions.

(f)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions are

recorded

on

the

ex-dividend

date.

Dividends

from

net

investment

income

and

dividends

from net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

the

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

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

20

fund,

it

is

the

policy

of

the

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

the

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

and

net

realized

capital

gain sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

As

of

and

during

the period

ended April

30,

2024,

the

fund

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

The

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statement

of

Operations.

During

the period

ended April

30,

2024,

the

fund

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

two-year

period

ended October

31,

2023

remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities. 

The

fund

is

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.

The

fund

has

an

unused

capital

loss

carryover

of

$10,873

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to

October

31,

2023.

These

long-term

capital

losses

can

be

carried

forward

for

an

unlimited

period. 

The

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

year

ended

October

31,

2023

were

as

follows:

ordinary

income

$281,640.

The

tax

character

of

current

year

distributions

will

be

determined

at

the

end

of

the

current

fiscal

year. 

NOTE

3—Management

Fee,

Sub-Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Pursuant

to

a

management

agreement

with

the

Adviser,

the

management

fee

is computed

at

an

annual

rate of

0.80%

of

the

value

of

the

fund’s

average

daily

net

assets

and

is

payable

monthly.

The

fund’s

management

agreement

provides

that

the

Adviser

pays

substantially

all

expenses

of

the

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.

21

The

Adviser

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended

April

30,

2024,

there

was

no

reduction

in

expenses

pursuant

to

the

undertaking.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-

Adviser,

the

Sub-Adviser

serves

as

the

fund’s

sub-adviser

responsible

for

the

day-to-day

management

of

the

fund’s

portfolio.

The

Adviser

pays

the

Sub-Adviser

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

the

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-advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

the

fund

from

disclosing

the

sub-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-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.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-

Adviser,

the

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

rate

of

0.40%

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser,

and

not

the

fund,

pays

the

Sub-Adviser

fee

rate.

(b)

The

fund

has

an

arrangement

with

The

Bank

of

New

York

Mellon

(the

“Custodian”),

a

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser, whereby

the

fund

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

components

of

“Due

to

BNY

Mellon

ETF Investment

Adviser,

LLC”

in

the

Statement

of

Assets

and

Liabilities

consist

of:

management

fee

of $73,445.

(c)

Each

Board

member

serves

as

a

Board

member

of

each

fund

within

the

Trust.

The

Board

members

are

not

compensated

directly

by

the

fund.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Trust,

including

the

fund.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

22

NOTE

4—Securities

Transactions:

The

aggregate

amount

of

purchases

and

sales

of

investment

securities,

excluding

short-term

securities

and

in-kind

transactions,

during

the

period

ended

April

30,

2024, amounted

to $6,065,331

and

$5,408,626,

respectively.

At April

30,

2024,

accumulated

net

unrealized

appreciation on

investments

was

$8,874,455,

consisting

of

gross

appreciation

of

$14,838,122

and

gross

depreciation

of

$5,963,667.

At

April

30,

2024,

the

cost

of

investments

for

federal

income

tax

purposes

was

substantially

the

same

as

the

cost

for

financial

reporting

purposes

(see

the

Statement

of

Investments).

NOTE

5—Shareholder

Transactions:

The

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

the

fund

are

not

redeemable.

The

value

of

the

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for the

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

the

fund

is

in-kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

the

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

the

fund

are

disclosed

in

detail

in

the

Statement

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of the

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

The

Adviser

or

its

affiliates

(the

“Selling

Shareholder”)

may

purchase

Creation

Units

through

a

broker-dealer

to

“seed”

(in

whole

or

in

part)

funds

as

they

are

launched

or

may

purchase shares

from

broker-dealers

or

other

investors

that

have

previously

provided

“seed”

for

funds

when

they

were

launched

or

otherwise

in

secondary

market

transactions.

Because

the

Selling

Shareholder

may

be

deemed

an

affiliate

of

such

funds,

the

fund shares

are

being

registered

to

permit

the

resale

of

these

shares

from

time

to

time

after

purchase.

The

fund

will

not

receive

any

of

the

proceeds

from

resale

by

the

Selling

Shareholders

of

these

fund

shares. An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Transaction

fees”

on

the

Statement

of

Changes

in

Net

Assets.

23

Seed

Capital:

As

of

April

30,

2024,

MBC

Investments

Corporation,

a

wholly-owned

subsidiary

of

BNY

Mellon,

held

123,252

shares

of

the

fund.

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

fund.

Because

such

gains

or

losses

are

not

taxable

to

the

fund

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

fund’s

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

During

the

period

ended

April

30,

2024,

the

fund

had

in-kind

transactions

associated

with

creations

of

$35,353,706

and

redemptions

of

$0.

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

THE

FUND’S

MANAGEMENT

AND

SUB-

INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

24

At

a

meeting

held

February

23,

2024,

the

Board

of

Trustees

of

the

Trust

(the

“Board”),

all

the

members

of

which

are

not

“interested

persons”

of

the

Trust

as

defined

in

the

Investment

Company

Act

of

1940,

as

amended,

evaluated

(i)

a

proposal

to

continue

the

Management

Agreement

(the

“Agreement”)

between

the

Trust

and

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”)

with

respect

to

the

BNY

Mellon

Concentrated

International

ETF

(the

“fund”);

and

(ii)

a

proposal

to

continue

the

sub-investment

advisory

agreement

between

the

Adviser

and

Walter

Scott

&

Partners

Limited

(the

“Sub-Adviser”),

an

affiliate

of

the

Adviser,

on

behalf

of

the

fund

(the

sub-investment

advisory

agreement

collectively

with

the

Agreement,

the

“Agreements”).

The

Trustees

also

met

separately

to

consider

the

Agreements.

The

Trustees

were

advised

by

legal

counsel

throughout

the

process.

To

evaluate

the

Agreements,

the

Board

requested,

and

the

Adviser

and

the

Sub-

Adviser

provided,

such

materials

as

the

Board,

with

the

advice

of

counsel,

deemed

reasonably

necessary.

In

addition,

the

Board

considered

information

it

reviewed

at

other

Board

and

Board

committee

meetings.

In

deciding

whether

to

approve

the

Agreements,

the

Board

considered

various

factors,

including

the

(i)

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

the

Sub-Adviser

under

each

respective

Agreement,

(ii)

investment

performance

of

the

fund,

(iii)

profits

realized

by

the

Adviser

and

its

affiliates

from

its

relationship

with

the

fund,

(iv)

fees

charged

to

comparable

funds,

(v)

other

benefits

to

the

Adviser,

the

Sub-Adviser

and/or

their

affiliates,

and

(vi)

extent

to

which

economies

of

scale

would

be

shared

as

the

fund

grows.

The

Board

considered

the

Agreements

for

the

fund

and

the

engagement

of

the

Adviser

and

the

Sub-Adviser

separately.

The

Board

reviewed

reports

prepared

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data,

which

included

information

(i)

comparing

the

fund’s

performance

with

the

performance

of

a

group

of

other

actively-managed

foreign

large

growth

exchange-traded

funds

(“ETFs”)

(the

“Performance

Group”)

and

with

a

broader

group

of

retail

and

institutional

foreign

large

growth

funds

and

ETFs

(the

“Performance

Universe”)

for

the

periods

ended

December

31,

2023;

and

(ii)

comparing

the

fund’s

contractual

management

fees

and

total

expenses

with

a

group

of

actively-managed

foreign

large

growth

ETFs

(the

“Expense

Group”)

and,

with

respect

to

total

expenses,

with

a

broader

group

of

actively-

managed

foreign

large

growth

ETFs

(the

“Expense

Universe”),

the

information

for

which

was

derived

in

part

from

fund

financial

statements

available

to

Broadridge

as

of

the

date

of

its

analysis.

Nature,

Extent

and

Quality

of

Services

The

Board

considered

the

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

the

Sub-Adviser.

In

doing

so,

the

Trustees

relied

on

their

prior

experience

in

overseeing

the

management

of

the

fund

and

the

materials

provided

prior

to

and

at

the

meeting.

The

Board

reviewed

the

Agreements

and

the

Adviser’s

and

the

Sub-Adviser’s

responsibilities

for

managing

investment

operations

of

the

fund

in

accordance

with

25

the

fund’s

investment

objective

and

policies,

and

applicable

legal

and

regulatory

requirements.

The

Board

appreciated

the

nature

of

the

fund

as

an

exchange-traded

fund

and

considered

the

background

and

experience

of

the

Adviser’s

and

the

Sub-

Adviser’s

senior

management,

including

those

individuals

responsible

for

portfolio

management

and

regulatory

compliance

of

the

fund.

The

Board

also

considered

the

portfolio

management

resources,

structures

and

practices

of

the

Adviser

and

the

Sub-Adviser,

including

those

associated

with

monitoring

and

ensuring

the

fund’s

compliance

with

its

investment

objective

and

policies

and

with

applicable

laws

and

regulations.

The

Board

further

considered

information

about

the

Sub-Adviser’s

best

execution

procedures

as

well

as

the

Adviser’s

and

the

Sub-Adviser’s

overall

investment

management

business.

The

Board

looked

at

the

Adviser’s

general

knowledge

of

the

investment

management

business

and

that

of

its

affiliates,

including

the

Sub-Adviser.

With

respect

to

the

Sub-Adviser,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

services

provided

by

the

Sub-Adviser.

Investment

Performance

The

Board

then

reviewed

the

results

of

the

fund’s

performance

comparisons

and

considered

that

the

fund’s

total

return

performance

was

above

the

Performance

Group

and

Performance

Universe

medians

for

the

one-year

and

two-year

periods.

Representatives

of

the

Adviser

indicated

that

the

usefulness

of

performance

comparisons

may

be

affected

by

a

number

of

factors,

including

different

investment

limitations

and

policies

that

may

be

applicable

to

the

fund

and

comparison

funds

and

the

end

date

selected.

Profits

Realized

by

the

Adviser

The

Board

considered

the

profitability

of

the

advisory

arrangement

with

the

fund

to

the

Adviser

and

its

affiliates.

The

Board

had

the

opportunity

to

discuss

with

representatives

of

the

Adviser

the

process

and

methodology

used

to

calculate

profitability.

Fees

Charged

to

Comparable

Funds

The

Board

evaluated

the

fund’s

unitary

fee

through

review

of

comparative

information

with

respect

to

fees

paid

by

similar

funds

-

i.e.,

other

actively-managed

foreign

large

growth

ETFs.

The

Board

explored

with

management

the

differences

between

the

fund’s

fee

and

fees

paid

by

similar

funds.

The

Board

noted

the

fund’s

contractual

management

fee

was

higher

than

the

Expense

Group

median

and

the

fund’s

total

expenses

were

higher

than

the

Expense

Group

median

and

the

Expense

Universe

median

total

expenses;

however,

the

Board

further

noted

the

limited

number

of

funds

in

the

Expense

Group

and

the

Expense

Universe.

The

Board

considered

the

fee

paid

to

the

Sub-Adviser

in

relation

to

the

fee

paid

to

the

Adviser

by

the

fund

and

the

respective

services

provided

by

the

Sub-Adviser

and

the

Adviser.

The

Board

also

took

into

consideration

that

the

Sub-Adviser’s

fee

is

paid

by

the

Adviser

and

not

the

fund.

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

THE

FUND’S

MANAGEMENT

AND

SUB-

INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

(continued)

26

Other

Benefits

The

Board

also

considered

whether

the

Adviser,

the

Sub-Adviser

or

their

affiliates

benefited

in

other

ways

from

their

relationship

with

the

fund,

noting

that

neither

the

Adviser

nor

the

Sub-Adviser

maintains

soft-dollar

arrangements

in

connection

with

the

fund’s

brokerage

transactions.

The

Board

noted

The

Bank

of

New

York

Mellon

Corporation

may

derive

certain

benefits

from

an

incremental

growth

in

its

businesses

that

may

possibly

result

from

the

availability

of

the

fund

to

clients.

Economies

of

Scale

The

Board

reviewed

information

regarding

economies

of

scale

or

other

efficiencies

that

may

result

as

the

fund’s

assets

grow

in

size.

The

Board

noted

that

the

advisory

fee

rate

for

the

fund

did

not

provide

for

breakpoints

as

assets

of

the

fund

increase.

The

Adviser

asserted

that

one

of

the

benefits

of

the

unitary

fee

was

to

provide

an

unvarying

expense

structure,

which

could

be

lost

or

diluted

with

the

addition

of

breakpoints.

The

Board

noted

that

it

intends

to

continue

to

monitor

fees

as

the

fund

grows

in

size

and

assess

whether

fee

breakpoints

may

be

warranted.

Conclusion

After

weighing

the

foregoing

factors,

none

of

which

was

dispositive

in

itself

and

may

have

been

weighed

differently

by

each

Trustee,

the

Board

approved

the

continuation

of

the

Agreements

for

the

fund.

In

approving

the

continuance

of

the

Agreements,

the

Board

found

that

the

terms

of

the

Agreements

are

fair

and

reasonable,

and

that

the

continuance

of

the

Agreements

is

in

the

best

interests

of

the

fund

and

its

shareholders.

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

27

The

funds

of

the

Trust

have

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

reasonably

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

reasonably

foreseeable

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

generally

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

November

2023

meeting,

the

Board

received

a

written

report

prepared

by

the

Program

Administrator,

for

the

period

October

1,

2022

to

September

30,

2023,

addressing

the

operation

of

the

Program,

assessing

the

Program’s

adequacy

and

effectiveness

and

describing

any

material

changes

made

to

the

Program.

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

(continued)

28

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

October

1,

2022

to

September

30,

2023,

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.

For

More

Information

2024

BNY

Mellon

Securities

Corporation

4864SA0424

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

the

fund

daily.

The

fund

files

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(

“

SEC

”

)

for

the

first

and

third

quarters

of

the

fiscal

year

on

Form

N-PORT.

The

fund

’

s

Forms

N-PORT

are

available

on

the

SEC

’

s

website

at

www.sec.gov

.

Additionally,

the

fund

makes

its

portfolio

holdings

for

the

first

and

third

quarters

of

the

most

recent

fiscal

year

available

at

https://im.bnymellon.com/etfliterature

.

The

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

the

fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities,

and

information

regarding

how

the

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

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

Walter

Scott

&

Partners

Limited

One

Charlotte

Square

Edinburgh,

Scotland,

UK

BNY

Mellon

Securities

Corporation

240

Greenwich

Street

New

York,

NY

10286

Ticker

Symbol:

BNY

Mellon

Concentrated

International

ETF

BKCI

BNY

Mellon

ETF

Trust

SEMI-ANNUAL

REPORT

April

30,

2024

BNY

Mellon

Global

Infrastructure

Income

ETF

IMPORTANT

NOTICE

–

UPCOMING

CHANGES

TO

ANNUAL

AND

SEMI-ANNUAL

REPORTS 

The

Securities

and

Exchange

Commission

(the

“SEC”)

has

adopted

rule

and

form

amendments

that

will

result

in

changes

to

the

design

and

delivery

of

annual

and

semi-annual

fund

reports

(“Reports”).

Beginning

in

July

2024,

Reports

will

be

streamlined

to

highlight

key

information.

Certain

information

currently

included

in

Reports,

including

financial

statements,

will

no

longer

appear

in

the

Reports

but

will

be

available

online,

delivered

free

of

charge

to

shareholders

upon

request,

and

filed

with

the

SEC. 

If

you

previously

elected

to

receive

the

fund’s

Reports

electronically,

you

will

continue

to

do

so.

Otherwise,

you

will

receive

paper

copies

of

the

fund’s

re-designed

Reports

by

USPS

mail

in

the

future.

If

you

would

like

to

receive

the

fund’s

Reports

(and/or

other

communications)

electronically

instead

of

by

mail,

please

contact

your

financial

advisor.

Contents

The

Fund

Save

time.

Save

paper.

View

your

next

shareholder

report

online

as

soon

as

it’s

available.

Log

into

www.

im.bnymellon.com

and

sign

up

for

eCommunications.

It’s

simple

and

only

takes

a

few

minutes.

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

fund’s

portfolio

is

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

Discussion

of

Fund

Performance

3

Understanding

Your

Fund’s

Expenses

6

Statement

of

Investments

7

Statement

of

Assets

and

Liabilities

9

Statement

of

Operations

10

Statement

of

Changes

in

Net

Assets

11

Financial

Highlights

12

Notes

to

Financial

Statements

13

Information

About

the

Review

and

Renewal

of

the

Fund’s

Management,

Sub-

Investment

Advisory,

and

Sub-Sub-Investment

Advisory

Agreements

22

Liquidity

Risk

Management

Program

25

FOR

MORE

INFORMATION

Back

Cover

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

3

For

the

period

from

November

1,

2023,

through

April

30,

2024,

as

provided

by

James

A.

Lydotes

and

Brock

Campbell,

Portfolio

Managers

employed

by

the

fund’s

sub-adviser,

Newton

Investment

Management

North

America,

LLC.

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2024,

the

BNY

Mellon

Global

Infrastructure

Income

ETF

(the

“fund”)

produced

a

net

asset

value

total

return

of

12.00%.

1

In

comparison,

the

fund’s

benchmark,

the

S&P

Global

Infrastructure

NR

Index

(the

“Index”),

produced

a

total

return

of

14.81%

for

the

same

period.

2

Equities

gained

ground

as

economic

growth

remained

generally

positive,

inflation

eased,

and

central

banks

slowed

or

paused

monetary

tightening

policies.

The

fund

underperformed

the

Index

due

to

certain

allocation

positions

and

security

selections.

The

Fund’s

Investment

Approach

The

fund

seeks

long-term

total

return

(consisting

of

capital

growth

and

income).

To

pursue

its

goal,

the

fund

normally

invests

at

least

80%

of

its

net

assets

(plus

the

amount

of

any

borrowings

for

investment

purposes)

in

securities

issued

by

dividend-

paying

infrastructure

companies.

The

fund’s

sub-adviser,

Newton

Investment

Management

North

America,

LLC

(“NIMNA”),

an

affiliate

of

the

BNY

Mellon

ETF

Investment

Adviser,

LLC,

seeks

to

select

for

the

fund

securities

of

infrastructure

companies

that

NIMNA

believes

benefit

from

consistent

regulatory

environments

(a

feature

more

common

in

developed

markets

than

emerging

markets),

stable

cash

flows

driven

by

sustainable

business

models,

and

consistent

dividend

payment

profiles.

NIMNA

utilizes

quantitative

and

fundamental

research

to

select

investments

by

focusing

on

infrastructure

companies

that

it

believes

possess

the

most

favorable

combination

of

cash

flow

stability,

dividend

payment

potential

and

valuation

metrics

(such

as

price

to

earnings

ratio,

price

to

book

ratio

and

price

to

cash

flow

ratio).

NIMNA’s

fundamental

research

includes

evaluating

key

areas

such

as

balance

sheet

strength,

competitive

landscape,

stock-price

valuations,

liquidity

and

analysis

of

regulatory

environment.

Equities

Gain

Ground

as

Inflation

Eases

Global

equities

climbed

during

the

reporting

period

as

interest-rate

hikes

implemented

by

central

banks

gained

traction

in

the

fight

against

inflation.

In

the

United

States,

the

U.S.

Federal

Reserve

(the

“Fed”)

left

the

federal

funds

rate

unchanged

and

forecast

the

possibility

of

rate

cuts

sometime

in

2024.

Inflation

proved

sticky,

remaining

in

a

range

of

3.1%−3.5%

throughout

the

period

despite

the

highest

interest

rates

in

decades.

In

the

eurozone,

inflation

declined

to

2.4%

in

November

2023,

down

from

a

peak

of

over

10%

a

year

earlier.

After

climbing

back

to

2.9%

in

December,

it

eased

again

over

the

ensuing

months,

once

more

reaching

2.4%

as

of

the

end

of

the

reporting

period.

Most

other

developed

economies

experienced

similar

trends,

prompting

central

banks

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

4

to

pause

or

slow

the

pace

of

interest-rate

hikes

designed

to

combat

inflation.

At

the

same

time,

most

advanced

economies

continued

to

produce

positive

growth,

led

by

the

United

States,

despite

high

interest

rates.

Stocks

generally

responded

positively

to

this

economic

backdrop,

with

the

strongest

returns

seen

in

cyclical,

growth-oriented

sectors,

while

interest-rate-sensitive

and

traditionally

defensive

sectors

lagged.

Infrastructure

stocks

performed

particularly

well

in

the

United

States,

bolstered

by

infrastructure-

targeted

federal

stimulus

measures.

Certain

Selections

and

Allocations

Detract

The

fund’s

returns

relative

to

the

Index

were

hurt

by

an

underweight

allocation

to

Mexico,

with

lack

of

exposure

to

Grupo

Aeroportuario

del

Centro

Norte

a

key

detractor.

Weak

security

selection

in

Spain,

particularly

holdings

in

utility

Enagás

SA,

undermined

returns

as

well.

From

a

sector

perspective,

overweight

exposure

to

communication

services

and

disappointing

selection

in

industrials

detracted.

On

the

positive

side,

security

selection

in

the

United

States

bolstered

the

fund’s

performance

relative

to

the

Index,

with

U.S.

based

utility

company

Vistra

Corp.

the

main

positive

driver

of

performance.

Vistra

Corp.,

an

independent

power

and

renewables

company,

performed

very

well

as

investors

began

pricing

in

increased

demand

for

energy,

driven,

in

part,

by

the

increased

demand

for

energy

from

the

growth

of

data

centers.

Data

centers

proliferated

during

the

period,

due

to

increasing

demand

related

to

artificial

intelligence

and

the

reshoring

of

supply

chains,

as

well

as

incentives

in

the

federal

CHIPS

and

Science

Act

aimed

at

expanding

semiconductor-

related

infrastructure.

We

believe

Vistra

Corp.

is

well

positioned

to

benefit

from

the

supply/demand

dynamics

in

energy,

especially

based

on

their

geographical

footprint

in

Texas,

which

is

the

second-largest

data

center

market

in

the

United

States.

Bullish

on

Infrastructure

We

remain

bullish

on

the

outlook

for

infrastructure,

given

the

evolving

macro

backdrop.

The

recent

macroeconomic

trends

of

slowing

gross

domestic

product

(“GDP”),

rising

inflation,

lower-than-expected

change

in

nonfarm

payrolls

and

increasing

unemployment

bode

well

for

infrastructure,

due

to

its

relatively

defensive

nature

and

ability

to

pass

through

inflation.

In

addition,

we

believe

the

impact

of

the

billions

being

spent

on

AI

infrastructure

is

underappreciated

across

utilities,

industrials

and

the

energy

complex.

We

continue

to

seek

infrastructure

companies

within

the

fund’s

investable

universe

that

are

well

positioned

to

benefit

from

this

long-term

secular

trend.

As

of

April

30,

2024,

the

fund

continues

to

hold

overweight

exposure

to

communication

services

and

utilities,

and

underweight

exposure

to

industrials.

At

the

country

level,

the

fund

holds

overweight

exposure

to

the

United

States

and

France,

and

underweight

exposure

to

Australia

and

Canada.

Within

communication

services,

we

remain

positive

on

the

outlook

for

the

telecommunications

industry,

expressed

through

exposure

to

5

U.S.

and

French

telecommunications

companies.

We

believe

these

companies

are

on

the

other

side

of

a

decade-long

capital

expenditure

(“capex”)

binge

and

are

starting

to

pull

capex

budgets

down

now

that

much

of

the

5G

buildout

has

been

done.

As

they

reduce

capex

spending,

we

expect

free

cash

flow

to

increase,

creating

significant

opportunities

for

valuation

expansion

and

share

price

appreciation.

We

are

currently

seeking

additional

exposure

to

that

same

theme.

We

also

remain

bullish

on

the

utilities

sector,

which

remains

the

largest

allocation

in

the

fund.

We

are

finding

especially

attractive

opportunities

in

beaten-down

U.S.

shares,

which

significantly

underperformed

their

European

counterparts

in

2023

and

now

appear

attractively

valued,

given

our

view

of

industry

dynamics.

May

15,

2024

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

A

fund’s

net

asset

value

(NAV)

is

the

sum

of

all

its

assets

less

any

liabilities,

divided

by

the

number

of

shares

outstanding.

Exchange-Traded

Funds

(“ETFs”)

are

bought

and

sold

at

market

prices,

not

NAV,

therefore

an

investor’s

return

at

market

price

may

differ

from

NAV.

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.

2

Source:

Lipper

Inc.

—

The

S&P

Global

Infrastructure

NR

Index

is

designed

to

track

75

companies

from

around

the

world

chosen

to

represent

the

listed

infrastructure

industry

while

maintaining

liquidity

and

tradability.

To

create

diversified

exposure,

the

index

includes

three

distinct

infrastructure

clusters:

energy,

transportation,

and

utilities.

It

reflects

reinvestment

of

net

dividends

and,

where

applicable,

capital

gain

distributions.

Investors

cannot

invest

directly

in

any

index.

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.

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.

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

is

non-diversified,

which

means

that

the

fund

may

invest

a

relatively

high

percentage

of

its

assets

in

a

limited

number

of

issuers.

Therefore,

the

fund’s

performance

may

be

more

vulnerable

to

changes

in

the

market

value

of

a

single

issuer

or

group

of

issuers

and

more

susceptible

to

risks

associated

with

a

single

economic,

political

or

regulatory

occurrence

than

a

diversified

fund.

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.

UNDERSTANDING

YOUR

FUND’S

EXPENSES

(Unaudited)

6

As

a

shareholder

of

the

fund,

you

pay

ongoing

expenses,

such

as

management

fees

and

other

expenses.

Using

the

information

below,

you

can

estimate

how

these

expenses

affect

your

investment

and

compare

them

with

the

expenses

of

other

funds.

For

more

information,

see

your

fund’s

prospectus

or

talk

to

your

financial

adviser.

Actual

Expenses

The

table

below

shows

the

expenses

you

would

have

paid

on

a

$1,000

investment

in

the

fund

from

November

1,

2023

to

April

30,

2024

.

The

information

under

each

column

in

the

table

below

entitled

“Actual”

provides

information

about

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

the

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

Securities

and

Exchange

Commission

(“SEC”)

has

established

guidelines

to

help

investors

assess

fund

expenses.

The

information

under

each

column

in

the

table

entitled

“Hypothetical”

provides

information

about

hypothetical

account

values

and

hypothetical

expenses

based

on

the

fund’s

actual

expense

ratio

and

assuming

a

hypothetical

5%

annualized

return,

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

fund

with

those

of

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

expenses

(but

not

transaction

expenses

or

total

cost)

of

investing

in

the

fund

with

those

of

other

funds.

In

addition,

if

these

transactional

costs

were

included,

your

costs

would

have

been

higher.

For

the

six

months

ended

April

30,

2024

(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

April

30,

2024

.

Expenses

are

calculated

by

multiplying

the

fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

182/366

(to

reflect

the

one-half

period).

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)

1,000.00

1,000.00

1,120.00

1,021.63

3.43

3.27

0.65

STATEMENT

OF

INVESTMENTS

April

30,

2024

(Unaudited)

7

Description

Shares

Value

($)

Common

Stocks

–

98.7%

Belgium

–

3.0%

Proximus

SADP

86,223

636,300

Canada

–

2.5%

Enbridge,

Inc.

14,745

524,293

China

–

3.1%

Jiangsu

Expressway

Co.

Ltd.,

Class

H

671,897

661,358

Finland

–

2.0%

Fortum

OYJ

32,418

428,305

France

–

18.6%

Bouygues

SA

20,984

775,062

Engie

SA

16,407

284,881

Orange

SA

126,444

1,406,763

Veolia

Environnement

SA

20,506

638,795

Vinci

SA

7,151

841,379

3,946,880

Germany

–

2.4%

Deutsche

Post

AG

11,949

500,643

Italy

–

5.7%

ENEL

SpA

98,315

648,523

Italgas

SpA

99,038

549,606

1,198,129

Norway

–

2.4%

SFL

Corp.

Ltd.

37,411

498,689

Spain

–

2.8%

Enagas

SA

8,435

123,865

Endesa

SA

13,332

243,298

Redeia

Corp.

SA

13,755

229,732

596,895

United

Kingdom

–

6.4%

Drax

Group

PLC

117,761

762,226

SSE

PLC

29,027

604,450

1,366,676

United

States

–

49.8%

Antero

Midstream

Corp.

71,441

988,743

AT&T,

Inc.

45,011

760,236

Clearway

Energy,

Inc.,

Class

C

43,414

1,015,019

Dominion

Energy,

Inc.

38,140

1,944,377

Exelon

Corp.

23,263

874,223

Hess

Midstream

LP,

Class

A

24,339

829,960

STATEMENT

OF

INVESTMENTS

(continued)

8

See

Notes

to

Financial

Statements

Description

Shares

Value

($)

Common

Stocks

–

98.7%

(continued)

United

States

–

49.8%

(continued)

NextEra

Energy

Partners

LP

35,522

1,007,404

OMEGA

Healthcare

Investors,

Inc.

(a)

20,256

615,985

ONEOK,

Inc.

10,910

863,199

PPL

Corp.

22,121

607,443

Vistra

Corp.

3,495

265,061

Williams

Cos.,

Inc.

(The)

20,166

773,568

10,545,218

Total

Common

Stocks

(cost

$19,882,820)

20,903,386

Investment

Companies

–

0.5%

Registered

Investment

Companies

–

0.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.28%

(b)(c)

(cost

$116,003)

116,003

116,003

Total

Investments

(cost

$19,998,823)

99.2%

21,019,389

Cash

and

Receivables

(Net)

0.8%

159,467

Net

Assets

100.0%

21,178,856

(a)

Investment

in

a

real

estate

investment

trust.

(b)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

(c)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2024.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Utilities

48.2

Energy

21.2

Communication

Services

13.2

Industrials

13.2

Real

Estate

2.9

Registered

Investment

Companies

0.5

99.2

†

Based

on

net

assets.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2024

are

as

follows:

Description

Value

($)

10/31/23

Purchases

($)

1

Sales

($)

Value

($)

4/30/24

Dividends/

Distributions

($)

Investment

Companies

–

0.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

408,439

903,342

(1,195,778)

116,003

3,324

Total

–

0.5%

408,439

903,342

(1,195,778)

116,003

3,324

1

Includes

reinvested

dividends/distributions.

STATEMENT

OF

ASSETS

AND

LIABILITIES

April

30,

2024

(Unaudited)

9

See

Notes

to

Financial

Statements

Cost

Value

Assets

($):

Investments

in

securities—See

Statement

of

Investments:

–

Unaffiliated

issuers

19,882,820

20,903,386‌

Affiliated

issuers

116,003

116,003‌

Cash

denominated

in

foreign

currency

6

6‌

Dividends

receivable

122,432‌

Tax

reclaim

receivable—Note

2(b)

47,889‌

21,189,716‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—

Note

3(b)

10,860‌

10,860‌

Net

Assets

($)

21,178,856‌

Composition

of

Net

Assets

($):

Paid-in

capital

19,848,245‌

Total

distributable

earnings

(loss)

1,330,611‌

Net

Assets

($)

21,178,856‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

750,001‌

Net

asset

value

per

share

28.24‌

Market

price

per

share

28.28‌

STATEMENT

OF

OPERATIONS

Six

Months

Ended

April

30,

2024

(Unaudited)

10

See

Notes

to

Financial

Statements

Investment

Income

($):

Income:

Cash

dividends

(net

of

$38,391

foreign

taxes

withheld

at

source):

Unaffiliated

issuers

432,548‌

Affiliated

issuers

3,324‌

Total

Income

435,872‌

Expenses:

Management

fee—Note

3(a)

54,168‌

Total

Expenses

54,168‌

Net

Investment

Income

381,704‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

330,545‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

957,966‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

1,288,511‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

1,670,215‌

STATEMENT

OF

CHANGES

IN

NET

ASSETS

11

See

Notes

to

Financial

Statements

Six

Months

Ended

April

30,

2024

(Unaudited)

For

the

Period

from

November

3,

2022

(a)

to

October

31,

2023

Operations

($):

Net

investment

income

381,704‌

595,822‌

Net

realized

gain

(loss)

on

investments

330,545‌

(80,748‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

957,966‌

61,846‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

1,670,215‌

576,920‌

Distributions

($):

Distributions

to

shareholders

(316,248‌)

(600,276‌)

Return

of

capital

—‌

(23,072‌)

Total

distributions

(316,248‌)

(623,348‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

5,685,712‌

14,182,951‌

Transaction

fees—Note

5

2,390‌

264‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

5,688,102‌

14,183,215‌

Total

Increase

(Decrease)

in

Net

Assets

7,042,069‌

14,136,787‌

Net

Assets

($):

Beginning

of

Period

14,136,787‌

—‌

End

of

Period

21,178,856‌

14,136,787‌

Changes

in

Shares

Outstanding:

Shares

sold

200,000‌

550,001‌

Net

Increase

(Decrease)

in

Shares

Outstanding

200,000‌

550,001‌

(a)

Commencement

of

operations.

FINANCIAL

HIGHLIGHTS

12

The

following

table

describes

the

performance

for

the

fiscal

period

indicated

and

these

figures

have

been

derived

from

the

fund’s

financial

statements.

See

Notes

to

Financial

Statements

Six

Months

Ended

April

30,

2024

(Unaudited)

For

the

Period

from

November

3,

2022

(a)

to

October

31,

2023

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

25.70‌

25.00‌

Investment

Operations:

Net

investment

income

(b)

0.63‌

1.22‌

Net

realized

and

unrealized

gain

(loss)

on

investments

2.46‌

0.65‌

(c)

Total

from

Investment

Operations

3.09‌

1.87‌

Distributions:

–

–

Dividends

from

net

investment

income

(0.55‌)

(1.13‌)

Return

of

capital

—‌

(0.04‌)

Total

Distributions

(0.55‌)

(1.17‌)

Transaction

fees

(b)

0.00‌

(d)

0.00‌

(d)

Net

asset

value,

end

of

period

28.24‌

25.70‌

Market

price,

end

of

period

28.28‌

25.76‌

Net

Asset

Value

Total

Return

(%)

(e)

12.00‌

7.33‌

(f)

Market

Price

Total

Return

(%)

(e)

11.91‌

7.56‌

(f)

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.65‌

(g)

0.65‌

(g)

Ratio

of

net

investment

income

to

average

net

assets

4.58‌

(g)

4.46‌

(g)

Portfolio

Turnover

Rate

(h)

14.73‌

53.98‌

Net

Assets,

end

of

period

($

x

1,000)

21,179‌

14,137‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

In

addition

to

net

realized

and

unrealized

gains

(losses)

on

investments,

this

amount

includes

an

increase

in

net

asset

value

per

share

resulting

from

the

timing

of

issuances

and

redemptions

of

shares

in

relation

to

fluctuating

market

values

for

the

fund's

investments.

(d)

Amount

represents

less

than

$0.01

per

share.

(e)

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.

(f)

The

net

asset

value

total

return

and

the

market

price

total

return

is

calculated

from

fund

inception.

The

inception

date

is

the

first

date

the

fund

was

available

on

Cboe

BZX

Exchange,

Inc.

(g)

Annualized.

(h)

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.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

13

NOTE

1—Organization:

BNY

Mellon

Global

Infrastructure

Income

ETF (the “fund”) is a

separate

non-

diversified series

of

BNY

Mellon

ETF

Trust

(the

“Trust”),

which is

registered as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-ended

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

thirteen

series,

including

the

fund.

The

investment

objective

of

the

fund

is

to

seek

long-term

total

return

(consisting

of

capital

growth

and

income).

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY

Mellon”),

serves

as

the

fund’s

investment

adviser. Newton

Investment

Management

North

America,

LLC (the

“Sub-Adviser”),

an

indirect wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

the

fund’s

sub-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.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

the

fund’s

shares.

The

shares

of

the

fund

are

referred

to

herein

as

“Shares”

or

“Fund

Shares.”

Fund

Shares

are

listed

and

traded

on

Cboe

BZX

Exchange,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

the

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

the

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

fund.

Individual

Fund

Shares

may

only

be

purchased

and

sold

on

the

Cboe

BZX

Exchange,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

Fund

Shares

trade

at

market

prices

rather

than

at

NAV,

Fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask). 

NOTE

2—Significant

Accounting

Policies: 

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

SEC

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants. The

fund

is an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies. The

fund’s

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

14

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

series.

Expenses

directly

attributable

to

each

series

are

charged

to

that

series’

operations;

expenses

which

are

applicable

to

all

series

are

allocated

among

them

on

a

pro

rata

basis.

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

fund’s

maximum

exposure

under

these

arrangements

is

unknown.

The

fund

does

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

the

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

fund’s

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

the

fund’s

investments

are

as

follows:

The

Trust’s Board

of

Trustees

(the

“Board”)

has

designated

the

Adviser

as

the

fund’s

valuation

designee

to

make

all

fair

value

determinations

with

respect

to

the

fund’s

portfolio

of

investments,

subject

to

the

Board’s

oversight

and

pursuant

to

Rule

2a-5

under

the

Act.

15

Investments

in

equity

securities,

including

ETFs

(but

not

including

investments

in

other

open-end

registered

investment

companies),

generally

are

valued

at

the

last

sales

price

on

the

day

of

valuation

on

the

securities

exchange

or

national

securities

market

on

which

such

securities

primarily

are

traded.

Securities

listed

on

the

National

Association

of

Securities

Dealers

Automated

Quotation

System

(“NASDAQ”)

for

which

market

quotations

are

available

will

be

valued

at

the

official

closing

price.

If

there

are

no

transactions

in

a

security,

or

no

official

closing

prices

for

a

NASDAQ

market-listed

security

on

that

day,

the

security

will

be

valued

at

the

average

of

the

most

recent

bid

and

asked

prices.

Bid

price

is

used

when

no

asked

price

is

available.

Open

short

positions

for

which

there

is

no

sale

price

on

a

given

day

are

valued

at

the

lowest

asked

price.

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. 

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

fair

value

accurately,

they are

valued

at

fair

value

as

determined

in

good

faith

based

on

procedures

approved

by

the

Board.

Fair

value

of

investments

may

be

determined

by

valuation

designee

using

such

information

as

it

deems

appropriate

under

the

circumstances.

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.

The

table

below

summarizes

the

inputs

used

as

of April

30,

2024

in

valuing

the

fund’s

investments:

Fair

Value

Measurements

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Total

Assets

($)

Investments

In

Securities:

†

Common

Stocks

20,903,386

—

—

20,903,386

Investment

Companies

116,003

—

—

116,003

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

16

(b)

Foreign

currency

transactions:

The

fund

does

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

fund’s

books

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

the

value

of

assets

and

liabilities

other

than

investments

resulting

from

changes

in

exchange

rates.

Foreign

currency

gains

and

losses

on

foreign

currency

transactions

are

also

included

with

net

realized

and

unrealized

gain

or

loss

on

investments.

Foreign

Taxes:

The

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

fund

invests.

These

foreign

taxes,

if

any,

are

paid

by

the

fund

and

are

reflected

in

the

Statement

of

Operations,

if

applicable.

Foreign

taxes

payable

or

deferred

or

those

subject

to

reclaims

as

of

April

30,

2024,

if

any,

are

disclosed

in

the

fund’s

Statement

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.

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

or

its

affiliates are

defined

as

“affiliated”

under

the

Act. 

(e)

Market

Risk:

The

value

of

the

securities

in

which

the

fund

invests

may

be

affected

by

political,

regulatory,

economic

and

social

developments,

and

developments

that

impact

specific

economic

sectors,

industries

or

segments

of

the

market.

In

addition,

turbulence

in

financial

markets

and

reduced

liquidity

in

equity,

credit

and/

or

fixed

income

markets

may

negatively

affect

many

issuers,

which

could

adversely

affect

the

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.

17

Foreign

Investment

Risk:

Because

the

fund

invests

in

foreign

securities,

the

fund’s

performance

will

be

influenced

by

political,

social

and

economic

factors

affecting

investments

in

foreign

issuers.

Special

risks

associated

with

investments

in

foreign

issuers

include

exposure

to

currency

fluctuations,

less

liquidity,

less

developed

or

less

efficient

trading

markets,

lack

of

comprehensive

company

information,

political

and

economic

instability

and

differing

auditing

and

legal

standards.

The

imposition

of

sanctions,

confiscations,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

United

States

and

other

governments,

or

problems

in

share

registration,

settlement

or

custody,

may

result

in

losses

for

the

fund.

Investments

denominated

in

foreign

currencies

are

subject

to

the

risk

that

such

currencies

will

decline

in

value

relative

to

the

U.S.

dollar

and

affect

the

value

of

these

investments

held

by

the

fund.

To

the

extent

securities

held

by

the

fund

trade

in

a

market

that

is

closed

when

the

exchange

on

which

the

fund’s

shares

trade

is

open,

there

may

be

deviations

between

the

current

price

of

a

security

and

the

last

quoted

price

for

the

security

in

the

closed

foreign

market.

These

deviations

could

result

in

the

fund

experiencing

premiums

or

discounts

greater

than

those

of

ETFs

that

invest

in

domestic

securities.

To

the

extent

the

fund’s

investments

are

focused

in

a

limited

number

of

foreign

countries,

the

fund’s

performance

could

be

more

volatile

than

that

of

more

geographically

diversified

funds.

Infrastructure

company

risk:

Because

the

fund

invests

significantly

in

companies

that

are

engaged

in

the

infrastructure

business,

the

fund

is

more

susceptible

to

adverse

economic,

regulatory,

political,

legal

and

other

changes

affecting

such

companies.

Infrastructure

companies

are

subject

to

a

variety

of

factors

that

may

adversely

affect

their

business

or

operations,

including

high

interest

costs

in

connection

with

capital

construction

programs,

costs

associated

with

environmental

and

other

regulations,

difficulty

in

raising

capital

in

adequate

amounts

on

reasonable

terms

in

periods

of

high

inflation

or

unsettled

capital

markets,

the

effects

of

economic

slowdown

and

surplus

capacity,

increased

competition

from

other

providers

of

services,

uncertainties

concerning

the

availability

of

fuel

at

reasonable

prices,

the

effects

of

energy

conservation

policies,

service

interruption

due

to

environmental,

operational

or

other

mishaps,

and

other

factors.

Additionally,

infrastructure

companies

may

be

subject

to

regulation

by

various

governmental

authorities

and

may

also

be

affected

by

governmental

regulation

of

rates

charged

to

customers;

service

interruption

and/or

legal

challenges

due

to

environmental,

operational

or

other

mishaps;

the

imposition

of

special

tariffs

and

changes

in

tax

laws,

regulatory

policies

and

accounting

standards;

nationalization;

and

general

changes

in

market

sentiment

towards

infrastructure

assets.  There

is

also

the

risk

that

corruption

may

negatively

affect

publicly-funded

infrastructure

projects,

resulting

in

delays

and

cost

overruns.  At

times,

the

performance

of

securities

of

companies

in

the

infrastructure

group

of

industries

may

lag

the

performance

of

other

industries

or

the

broader

market

as

a

whole.

A

downturn

in

the

infrastructure

group

of

industries

could

have

an

adverse

impact

on

the

fund.

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

18

Non-Diversification

Risk:

The

fund

is

non-diversified,

which

means

that

the

fund

may

invest

a

relatively

high

percentage

of

its

assets

in

a

limited

number

of

issuers.

Therefore,

the

fund’s

performance

may

be

more

vulnerable

to

changes

in

the

market

value

of

a

single

issuer

or

group

of

issuers

and

more

susceptible

to

risks

associated

with

a

single

economic,

political

or

regulatory

occurrence

than

a

diversified

fund.

Authorized

Participants,

Market

Makers

and

Liquidity

Providers Risk:

The

fund

has

a

limited

number

of

financial

institutions

that

may

act

as

Authorized

Participants, which

are

responsible

for

the

creation

and

redemption

activity

for

the

fund.

In

addition,

there

may

be

a

limited

number

of

market

makers

and/or

liquidity

providers

in

the

marketplace.

To

the

extent

either

of

the

following

events

occur,

fund

shares

may

trade

at

a

material

discount

to

net

asset

value

and

possibly

face

delisting:

(i)

Authorized

Participants

exit

the

business

or

otherwise

become

unable

to

process

creation

and/or

redemption

orders

and

no

other

Authorized

Participants

step

forward

to

perform

these

services,

or

(ii)

market

makers

and/or

liquidity

providers

exit

the

business

or

significantly

reduce

their

business

activities

and

no

other

entities

step

forward

to

perform

their

functions.

(f)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions are

recorded

on

the

ex-dividend

date.

Dividends

from

net

investment

income

and

dividends

from net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

the

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

the

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

the

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

and

net

realized

capital

gain sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

As

of

and

during

the period

ended April

30,

2024,

the

fund

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

The

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statement

of

Operations.

During

the period

ended April

30,

2024,

the

fund

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

one-year

period

ended October

31,

2023

remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities. 

The

fund

is

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. 

19

The

fund

has

an

unused

capital

loss

carryover

of

$35,005

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to

October

31,

2023.

These

short-term

capital

losses

can

be

carried

forward

for

an

unlimited

period. 

The

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

year

ended

October

31,

2023

were

as

follows:

ordinary

income

$600,276

and

return

of

capital

$23,072.

The

tax

character

of

current

year

distributions

will

be

determined

at

the

end

of

the

current

fiscal

year. 

NOTE

3—Management

Fee,

Sub-Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Pursuant

to

a

management

agreement

with

the

Adviser,

the

management

fee

is computed

at

an

annual

rate of

0.65%

of

the

value

of

the

fund’s

average

daily

net

assets

and

is

payable

monthly.

The

fund’s

management

agreement

provides

that

the

Adviser

pays

substantially

all

expenses

of

the

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

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended

April

30,

2024,

there

was

no

reduction

in

expenses

pursuant

to

the

undertaking.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-

Adviser,

the

Sub-Adviser

serves

as

the

fund’s

sub-adviser

responsible

for

the

day-to-day

management

of

the

fund’s

portfolio.

The

Adviser

pays

the

Sub-Adviser

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

the

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-advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

the

fund

from

disclosing

the

sub-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-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

NOTES

TO

FINANCIAL

STATEMENTS

(Unaudited)

(continued)

20

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.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-

Adviser,

the

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

rate

of

0.325%

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser,

and

not

the

fund,

pays

the

Sub-Adviser

fee

rate.

(b)

The

fund

has

an

arrangement

with

The

Bank

of

New

York

Mellon

(the

“Custodian”),

a

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser, whereby

the

fund

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

components

of

“Due

to

BNY

Mellon

ETF Investment

Adviser,

LLC”

in

the

Statement

of

Assets

and

Liabilities

consist

of:

management

fee

of $10,860.

(c)

Each

Board

member

serves

as

a

Board

member

of

each

fund

within

the

Trust.

The

Board

members

are

not

compensated

directly

by

the

fund.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Trust,

including

the

fund.

NOTE

4—Securities

Transactions:

The

aggregate

amount

of

purchases

and

sales

of

investment

securities,

excluding

short-term

securities

and

in-kind

transactions,

during

the

period

ended

April

30,

2024, amounted

to $2,423,392

and

$2,489,641,

respectively.

At April

30,

2024,

accumulated

net

unrealized

appreciation on

investments

was

$1,020,566,

consisting

of

gross

appreciation

of

$1,645,398

and

gross

depreciation

of

$624,832.

At

April

30,

2024,

the

cost

of

investments

for

federal

income

tax

purposes

was

substantially

the

same

as

the

cost

for

financial

reporting

purposes

(see

the

Statement

of

Investments).

NOTE

5—Shareholder

Transactions:

The

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

the

fund

are

not

redeemable.

The

value

of

the

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for the

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

the

fund

is

21

in-kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

the

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

the

fund

are

disclosed

in

detail

in

the

Statement

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of the

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

The

Adviser

or

its

affiliates

(the

“Selling

Shareholder”)

may

purchase

Creation

Units

through

a

broker-dealer

to

“seed”

(in

whole

or

in

part)

funds

as

they

are

launched

or

may

purchase shares

from

broker-dealers

or

other

investors

that

have

previously

provided

“seed”

for

funds

when

they

were

launched

or

otherwise

in

secondary

market

transactions.

Because

the

Selling

Shareholder

may

be

deemed

an

affiliate

of

such

funds,

the

fund shares

are

being

registered

to

permit

the

resale

of

these

shares

from

time

to

time

after

purchase.

The

fund

will

not

receive

any

of

the

proceeds

from

resale

by

the

Selling

Shareholders

of

these

fund

shares. An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Transaction

fees”

on

the

Statement

of

Changes

in

Net

Assets.

Seed

Capital:

As

of

April

30,

2024,

MBC

Investments

Corporation,

a

wholly-owned

subsidiary

of

BNY

Mellon,

held

246,201

shares

of

the

fund.

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

fund.

Because

such

gains

or

losses

are

not

taxable

to

the

fund

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

fund’s

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

During

the

period

ended

April

30,

2024,

the

fund

had

in-kind

transactions

associated

with

creations

of

$5,730,458

and

redemptions

of

$0.

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

THE

FUND’S

MANAGEMENT,

SUB-INVESTMENT

ADVISORY,

AND

SUB-SUB-

INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

22

At

a

meeting

held

February

23,

2024,

the

Board

of

Trustees

of

the

Trust

(the

“Board”),

all

the

members

of

which

are

not

“interested

persons”

of

the

Trust

as

defined

in

the

Investment

Company

Act

of

1940,

as

amended,

evaluated

(i)

a

proposal

to

continue

the

Management

Agreement

(the

“Management

Agreement”)

between

the

Trust

and

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”)

with

respect

to

the

BNY

Mellon

Global

Infrastructure

Income

ETF

(the

“fund”);

(ii)

a

proposal

to

continue

the

sub-

investment

advisory

agreement

(the

“Sub-Advisory

Agreement”)

between

the

Adviser

and

Newton

Investment

Management

North

America,

LLC

(the

"Sub-Adviser"),

an

affiliate

of

the

Adviser,

on

behalf

of

the

fund;

and

(iii)

a

proposal

to

continue

the

sub-sub-investment

advisory

agreement

(the

“SSIA

Agreement”)

between

the

Sub-

Adviser

and

Newton

Investment

Management

Limited

(“NIM”),

also

an

affiliate

of

the

Adviser,

which

permits

the

Sub-Adviser

to

use

the

investment

advisory

personnel,

resources

and

capabilities

(“Investment

Advisory

Services”)

available

at

its

sister

company,

NIM,

in

providing

the

day-to-day

management

of

the

fund’s

investments.

The

Management

Agreement,

the

Sub-Advisory

Agreement

and

the

SSIA

Agreement

are

each

referred

to

herein

as

an

“Agreement”

and

collectively,

as

the

“Agreements”.

The

Trustees

also

met

separately

to

consider

the

Agreements.

The

Trustees

were

advised

by

legal

counsel

throughout

the

process.

To

evaluate

the

Agreements,

the

Board

requested,

and

the

Adviser,

the

Sub-Adviser

and

NIM

provided,

such

materials

as

the

Board,

with

the

advice

of

counsel,

deemed

reasonably

necessary.

In

addition,

the

Board

considered

information

it

reviewed

at

other

Board

and

Board

committee

meetings.

In

deciding

whether

to

approve

the

Agreements,

the

Board

considered

various

factors,

including

the

(i)

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

Sub-Adviser

under

the

respective

Management

Agreement

and

Sub-Advisory

Agreement,

(ii)

nature,

extent

and

quality

of

services

expected

to

be

provided

by

NIM

under

the

SSIA

Agreement,

(iii)

investment

performance

of

the

fund,

(iv)

profits

realized

by

the

Adviser

and

its

affiliates

from

its

relationship

with

the

fund,

(v)

fees

charged

to

comparable

funds,

(vi)

other

benefits

to

the

Adviser,

the

Sub-Adviser,

NIM

and/or

their

affiliates,

and

(vii)

extent

to

which

economies

of

scale

would

be

shared

as

the

fund

grows.

The

Board

considered

the

Agreements

for

the

fund

and

the

engagement

of

the

Adviser,

the

Sub-Adviser

and

NIM

separately.

The

Board

reviewed

reports

prepared

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data,

which

included

information

(i)

comparing

the

fund’s

performance

with

the

performance

of

a

group

of

other

infrastructure

exchange-traded

funds

(“ETFs”)

(the

“Performance

Group”)

and

with

a

broader

group

of

retail

and

institutional

infrastructure

funds

and

ETFs

(the

“Performance

Universe”)

for

the

one-year

period

ended

December

31,

2023;

and

(ii)

comparing

the

fund’s

contractual

management

fees

and

total

expenses

with

a

group

of

other

infrastructure

ETFs

(the

“Expense

Group”)

and,

with

respect

to

total

23

expenses,

with

a

broader

group

of

infrastructure

ETFs

(the

“Expense

Universe”),

the

information

for

which

was

derived

in

part

from

fund

financial

statements

available

to

Broadridge

as

of

the

date

of

its

analysis.

Nature,

Extent

and

Quality

of

Services

The

Board

considered

the

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

the

Sub-Adviser,

as

well

as

the

nature,

extent

and

quality

of

services

expected

to

be

provided

by

NIM.

In

doing

so,

the

Trustees

relied

on

their

prior

experience

in

overseeing

the

management

of

the

fund

and

the

materials

provided

prior

to

and

at

the

meeting.

The

Board

reviewed

the

Agreements

and

the

Adviser’s

and

the

Sub-Adviser’s

responsibilities

for

managing

investment

operations

of

the

fund

in

accordance

with

the

fund’s

investment

objective

and

policies,

and

applicable

legal

and

regulatory

requirements.

The

Board

appreciated

the

nature

of

the

fund

as

an

exchange-traded

fund

and

considered

the

background

and

experience

of

the

Adviser’s,

the

Sub-Adviser’s

and

NIM’s

senior

management,

including

those

individuals

responsible

for

portfolio

management

and

regulatory

compliance

of

the

fund.

The

Board

also

considered

the

portfolio

management

resources,

structures

and

practices

of

the

Adviser,

the

Sub-Adviser

and

NIM,

including

those

associated

with

monitoring

and

ensuring

the

fund’s

compliance

with

its

investment

objective

and

policies

and

with

applicable

laws

and

regulations.

The

Board

further

considered

information

about

the

Sub-Adviser’s

and

NIM’s

best

execution

procedures

as

well

as

the

Adviser’s,

the

Sub-

Adviser’s

and

NIM’s

overall

investment

management

business.

The

Board

looked

at

the

Adviser’s

general

knowledge

of

the

investment

management

business

and

that

of

its

affiliates,

including

the

Sub-Adviser

and

NIM.

With

respect

to

the

Sub-Adviser,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

services

provided

by

the

Sub-Adviser.

With

respect

to

NIM,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

services

expected

to

be

provided

by

NIM.

Investment

Performance

The

Board

then

reviewed

the

results

of

the

fund’s

performance

comparisons

and

considered

that

the

fund’s

total

return

performance

was

at

the

top

of

the

Performance

Group

and

above

the

Performance

Universe

median

for

the

one-year

period.

Representatives

of

the

Adviser

indicated

that

the

usefulness

of

performance

comparisons

may

be

affected

by

a

number

of

factors,

including

different

investment

limitations

and

policies

that

may

be

applicable

to

the

fund

and

comparison

funds

and

the

end

date

selected.

Profits

Realized

by

the

Adviser

The

Board

considered

the

profitability

of

the

advisory

arrangement

with

the

fund

to

the

Adviser

and

its

affiliates.

The

Board

had

the

opportunity

to

discuss

with

representatives

of

the

Adviser

the

process

and

methodology

used

to

calculate

profitability.

INFORMATION

ABOUT

THE

REVIEW

AND

RENEWAL

OF

THE

FUND’S

MANAGEMENT,

SUB-INVESTMENT

ADVISORY,

AND

SUB-SUB-

INVESTMENT

ADVISORY

AGREEMENTS

(Unaudited)

(continued)

24

Fees

Charged

to

Comparable

Funds

The

Board

evaluated

the

fund’s

unitary

fee

through

review

of

comparative

information

with

respect

to

fees

paid

by

similar

funds

–

i.e.,

other

infrastructure

ETFs.

The

Board

explored

with

management

the

differences

between

the

fund’s

fee

and

fees

paid

by

similar

funds.

The

Board

noted

the

fund’s

contractual

management

fee

was

higher

than

the

Expense

Group

median

and

the

fund’s

total

expenses

were

higher

than

the

Expense

Group

median

and

the

Expense

Universe

median

total

expenses;

however,

the

Board

further

noted

the

relatively

small

number

of

funds

in

the

Expense

Group

and

the

Expense

Universe.

Representatives

of

the

Adviser

also

discussed

the

Adviser’s

pricing

strategy

for

the

fund.

The

Board

considered

the

fee

paid

to

the

Sub-Adviser

in

relation

to

the

fee

paid

to

the

Adviser

by

the

fund

and

the

respective

services

provided

by

the

Sub-Adviser

and

the

Adviser.

The

Board

also

took

into

consideration

that

the

Sub-Adviser’s

fee

is

paid

by

the

Adviser

and

not

the

fund.

Furthermore,

the

Board

noted

NIM

would

not

receive

a

fee

in

connection

with

providing

the

Investment

Advisory

Services.

Other

Benefits

The

Board

also

considered

whether

the

Adviser,

the

Sub-Adviser,

NIM

or

their

affiliates

benefited

in

other

ways

from

their

relationship

with

the

fund,

including

any

soft

dollar

arrangements

maintained

with

respect

to

the

fund’s

brokerage

transactions.

The

Board

noted

The

Bank

of

New

York

Mellon

Corporation

may

derive

certain

benefits

from

an

incremental

growth

in

its

businesses

that

may

possibly

result

from

the

availability

of

the

fund

to

clients.

Economies

of

Scale

The

Board

reviewed

information

regarding

economies

of

scale

or

other

efficiencies

that

may

result

as

the

fund’s

assets

grow

in

size.

The

Board

noted

that

the

advisory

fee

rate

for

the

fund

did

not

provide

for

breakpoints

as

assets

of

the

fund

increase.

The

Adviser

asserted

that

one

of

the

benefits

of

the

unitary

fee

was

to

provide

an

unvarying

expense

structure,

which

could

be

lost

or

diluted

with

the

addition

of

breakpoints.

The

Board

noted

that

it

intends

to

continue

to

monitor

fees

as

the

fund

grows

in

size

and

assess

whether

fee

breakpoints

may

be

warranted.

Conclusion

After

weighing

the

foregoing

factors,

none

of

which

was

dispositive

in

itself

and

may

have

been

weighed

differently

by

each

Trustee,

the

Board

approved

the

continuation

of

the

Agreements

for

the

fund.

In

approving

the

continuance

of

the

Agreements,

the

Board

found

that

the

terms

of

the

Agreements

are

fair

and

reasonable,

and

that

the

continuance

of

the

Agreements

is

in

the

best

interests

of

the

fund

and

its

shareholders.

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

25

The

funds

of

the

Trust

have

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

reasonably

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

reasonably

foreseeable

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

generally

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

November

2023

meeting,

the

Board

received

a

written

report

prepared

by

the

Program

Administrator,

for

the

period

October

1,

2022

to

September

30,

2023,

addressing

the

operation

of

the

Program,

assessing

the

Program’s

adequacy

and

effectiveness

and

describing

any

material

changes

made

to

the

Program.

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(Unaudited)

(continued)

26

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

October

1,

2022

to

September

30,

2023,

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.

For

More

Information

2024

BNY

Mellon

Securities

Corporation

4865SA0424

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

the

fund

daily.

The

fund

files

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(

“

SEC

”

)

for

the

first

and

third

quarters

of

the

fiscal

year

on

Form

N-PORT.

The

fund

’

s

Forms

N-PORT

are

available

on

the

SEC

’

s

website

at

www.sec.gov

.

Additionally,

the

fund

makes

its

portfolio

holdings

for

the

first

and

third

quarters

of

the

most

recent

fiscal

year

available

at

https://im.bnymellon.com/etfliterature

.

The

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

the

fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities,

and

information

regarding

how

the

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

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

Newton

Investment

Management

North

America,

LLC

BNY

Mellon

Center

201

Washington

Street

Boston,

MA

02108

BNY

Mellon

Securities

Corporation

240

Greenwich

Street

New

York,

NY

10286

Ticker

Symbol:

BNY

Mellon

Global

Infrastructure

Income

ETF

BKGI

Item 1. Reports to Stockholders (cont.).

(b)Not applicable.

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

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)   Not applicable.

(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)(2)(1) Not applicable.

(a)(2)(2) 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 J. DiPetrillo, President

                                                (Principal Executive Officer)

Date    6/25/2024                               

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 J. DiPetrillo, President

                                                (Principal Executive Officer)

Date    6/25/2024                               

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

                                                (Principal Financial and Accounting Officer)

Date    6/24/2024                               

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