Goldman Sachs ETF Trust (GPRF) NPORT-P Goldman Sachs Access Investment Grade Corporate Bond ETF (May 2023 report)

GOLDMAN SACHS ACCESS EMERGING MARKETS USD BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – 85.1%
Angola – 1.7%
Angolan Government International Bond (NR/B3)
$	400,000		8.250	%	05/09/28	$     356,538
	200,000		8.000		11/26/29	170,110
	400,000		9.375		05/08/48	307,000
	200,000		9.125		11/26/49	150,000
						983,648
Bahamas – 0.3%
Bahamas Government International Bond (B+/B1)
	200,000		8.950		10/15/32	164,500
Bahrain – 2.9%
Bahrain Government International Bond (B+/NR)
	550,000		7.000		01/26/26	560,631
	225,000		7.375		05/14/30	227,605
	200,000		5.625		09/30/31	182,634
	225,000		5.625		05/18/34	192,372
	325,000		6.000		09/19/44	248,219
	200,000		7.500		09/20/47	174,969
	200,000		6.250		01/25/51	152,750
						1,739,180
Brazil – 2.5%
Brazilian Government International Bond (NR/NR)
	200,000		4.250		01/07/25	197,801
	779,000		6.000		10/20/33	769,286
	585,000		5.625		01/07/41	513,338
						1,480,425
Chile – 3.0%
Chile Government International Bond (A/A2)
	610,000		3.125		01/21/26	588,654
	400,000		3.240		02/06/28	380,883
	600,000		3.500		01/31/34	533,181
	200,000		4.000		01/31/52	162,351
	225,000		3.250		09/21/71	145,720
						1,810,789
China – 2.6%
China Government International Bond (NR/NR)
	200,000		0.750		10/26/24	189,751
	400,000		1.250		10/26/26	361,022
	200,000		3.500		10/19/28	196,658
	400,000		2.750		12/03/39	322,946
	250,000		4.000		10/19/48	234,621
	400,000		2.250		10/21/50	263,029
						1,568,027
Colombia – 4.9%
Colombia Government International Bond (BB+/Baa2)
	300,000		3.875		04/25/27	271,549
	460,000		3.000		01/30/30	355,586
	500,000		3.125		04/15/31	374,315

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Colombia – (continued)
Colombia Government International Bond (BB+/Baa2) – (continued)
$	250,000		3.250	%	04/22/32	$     182,056
	580,000		7.375		09/18/37	543,628
	300,000		6.125		01/18/41	238,700
	275,000		5.625		02/26/44	200,593
	550,000		5.000		06/15/45	368,730
	400,000		5.200		05/15/49	270,281
	200,000		4.125		05/15/51	118,451
						2,923,889
Costa Rica – 1.4%
Costa Rica Government International Bond (B+/B2)
	450,000		6.125		02/19/31	452,812
	400,000		7.158		03/12/45	398,500
						851,312
Dominican Republic – 4.3%
Dominican Republic International Bond (BB/Ba3)
	200,000		5.500		01/27/25	198,500
	150,000		6.875		01/29/26	152,250
	450,000		5.950		01/25/27	442,688
	425,000		6.000		07/19/28	412,781
	225,000		4.500		01/30/30	195,469
	450,000		4.875		09/23/32	380,250
	175,000		7.450		04/30/44	168,875
	225,000		6.850		01/27/45	200,812
	200,000		6.400		06/05/49	167,000
	300,000		5.875		01/30/60	225,375
						2,544,000
Ecuador – 1.1%
Ecuador Government International Bond (B-/NR)
	450,000		5.500	(a)	07/31/30	222,187
	850,000		2.500	(a)	07/31/35	299,625
	450,000		1.500	(a)	07/31/40	142,313
						664,125
Egypt – 3.4%
Egypt Government International Bond (B/NR)
	300,000		5.750		05/29/24	269,867
	200,000		5.875		06/11/25	153,701
	200,000		3.875		02/16/26	134,986
	200,000		7.500		01/31/27	135,500
	300,000		5.800		09/30/27	187,231
	200,000		6.588		02/21/28	124,837
	350,000		7.625		05/29/32	194,143
	200,000		7.300		09/30/33	106,960
	125,000		6.875		04/30/40	64,687
	450,000		8.500		01/31/47	228,375
	200,000		7.903		02/21/48	98,750
	200,000		8.700		03/01/49	102,750

GOLDMAN SACHS ACCESS EMERGING MARKETS USD BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Egypt – (continued)
Egypt Government International Bond (B/NR) – (continued)
$	200,000		8.875	%	05/29/50	$     103,750
	200,000		7.500		02/16/61	95,750
						2,001,287
Guatemala – 1.4%
Guatemala Government Bond (BB/NR)
	300,000		5.375		04/24/32	287,625
	425,000		3.700		10/07/33	346,906
	200,000		6.125		06/01/50	183,750
						818,281
Hungary – 3.0%
Hungary Government International Bond (BBB-/Baa2)
	400,000		5.375		03/25/24	400,232
	200,000		6.125		05/22/28	203,679
	200,000		5.250		06/16/29	193,883
	200,000		5.500		06/16/34	191,365
	550,000		7.625		03/29/41	611,825
	200,000		6.750		09/25/52	202,278
						1,803,262
Indonesia – 4.0%
Indonesia Government International Bond (BBB/Baa2)
	330,000		4.125		01/15/25	325,539
	200,000		3.850		07/18/27	193,745
	350,000		2.850		02/14/30	315,344
	400,000		4.650		09/20/32	397,451
	125,000		8.500		10/12/35	163,059
	325,000		7.750		01/17/38	408,752
	225,000		4.200		10/15/50	193,054
	275,000		3.050		03/12/51	200,408
	200,000		4.300		03/31/52	172,942
						2,370,294
Jamaica – 1.7%
Jamaica Government International Bond (B+/B2)
	400,000		6.750		04/28/28	423,000
	100,000		8.000		03/15/39	120,250
	400,000		7.875		07/28/45	465,500
						1,008,750
Jordan – 0.9%
Jordan Government International Bond (B+/B1)
	200,000		6.125		01/29/26	193,849
	350,000		5.850		07/07/30	314,134
						507,983
Kazakhstan – 1.0%
Kazakhstan Government International Bond (BBB-/Baa2)
	400,000		4.875		10/14/44	358,704
	225,000		6.500		07/21/45	234,052
						592,756

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Kenya – 1.7%
Republic of Kenya Government International Bond (B/NR)
$	606,000		6.875	%	06/24/24	$     556,541
	350,000		7.000		05/22/27	300,251
	200,000		8.250		02/28/48	147,250
						1,004,042
Kuwait – 0.7%
Kuwait International Government Bond (A+/NR)
	400,000		3.500		03/20/27	391,388
Mexico – 3.2%
Mexico Government International Bond (BBB/Baa2)
	200,000		3.750		01/11/28	191,319
	325,000		4.500		04/22/29	316,754
	600,000		4.875		05/19/33	575,224
	50,000		6.050		01/11/40	50,804
	150,000		5.550		01/21/45	142,170
	200,000		6.338		05/04/53	202,606
Mexico Government International Bond, MTN (BBB/Baa2)
	50,000		8.300		08/15/31	59,251
	175,000		7.500		04/08/33	201,980
	150,000		4.750		03/08/44	127,594
						1,867,702
Mongolia – 0.3%
Mongolia Government International Bond (B/B3)
	200,000		5.125		04/07/26	178,750
Morocco – 0.4%
Morocco Government International Bond (BB+/NR)
	350,000		4.000		12/15/50	233,188
Nigeria – 2.2%
Nigeria Government International Bond (B-/Caa1)
	200,000		6.500		11/28/27	169,750
	249,000		6.125		09/28/28	200,780
	200,000		8.747		01/21/31	167,655
	275,000		7.875		02/16/32	216,472
	200,000		7.375		09/28/33	147,718
	200,000		7.696		02/23/38	138,513
	200,000		7.625		11/28/47	131,750
	200,000		8.250		09/28/51	135,440
						1,308,078
Panama – 4.5%
Panama Government International Bond (BBB/Baa2)
	225,000		3.750		03/16/25	219,937
	260,000		8.875		09/30/27	302,900
	200,000		3.875		03/17/28	191,500
	50,000		9.375		04/01/29	61,000
	410,000		3.160		01/23/30	362,338
	400,000		2.252		09/29/32	309,000
	150,000		6.700		01/26/36	160,875
	250,000		4.500		04/16/50	192,500

GOLDMAN SACHS ACCESS EMERGING MARKETS USD BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Panama – (continued)
Panama Government International Bond (BBB/Baa2) – (continued)
$	200,000		4.300	%	04/29/53	$     146,750
	200,000		6.853		03/28/54	206,000
	275,000		4.500		04/01/56	205,563
	245,000		3.870		07/23/60	161,087
	200,000		4.500		01/19/63	145,000
						2,664,450
Paraguay – 1.1%
Paraguay Government International Bond (BB/Ba1)
	100,000		5.000		04/15/26	98,461
	200,000		4.950		04/28/31	192,500
	425,000		5.400		03/30/50	355,938
						646,899
Peru – 4.0%
Peruvian Government International Bond (BBB/Baa1)
	610,000		2.392		01/23/26	572,223
	200,000		4.125		08/25/27	196,313
	350,000		2.783		01/23/31	299,404
	100,000		1.862		12/01/32	76,002
	200,000		8.750		11/21/33	253,185
	150,000		3.000		01/15/34	122,518
	75,000		6.550		03/14/37	82,554
	450,000		5.625		11/18/50	453,477
	150,000		3.550		03/10/51	108,923
	340,000		2.780		12/01/60	198,840
	60,000		3.600		01/15/72	39,173
						2,402,612
Philippines – 2.4%
Philippine Government International Bond (BBB+/Baa2)
	200,000		6.375		10/23/34	225,420
	200,000		3.700		03/01/41	165,635
	200,000		3.700		02/02/42	164,960
	480,000		2.950		05/05/45	344,876
	450,000		2.650		12/10/45	305,943
	283,000		3.200		07/06/46	210,516
						1,417,350
Poland – 1.7%
Republic of Poland Government International Bond (A-/A2)
	1,000,000		5.500		11/16/27	1,036,332
Qatar – 2.8%
Qatar Government International Bond (AA/Aa3)
	200,000		3.400		04/16/25	195,423
	350,000		3.750		04/16/30	340,373
	200,000		4.625		06/02/46	190,146
	220,000		5.103		04/23/48	218,592
	350,000		4.817		03/14/49	334,056
	400,000		4.400		04/16/50	362,088
						1,640,678

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Romania – 2.6%
Romanian Government International Bond (BBB-/Baa3)
$	460,000		5.250	%	11/25/27	$     453,049
	170,000		3.000		02/14/31	140,410
	250,000		3.625		03/27/32	210,734
	300,000		7.125		01/17/33	316,334
	180,000		6.125		01/22/44	168,542
	280,000		5.125		06/15/48	229,343
						1,518,412
Saudi Arabia – 3.9%
Saudi Government International Bond (NR/NR)
	502,000		2.900		10/22/25	481,952
	400,000		2.500		02/03/27	373,596
	225,000		4.375		04/16/29	222,239
	225,000		4.500		04/17/30	222,899
	400,000		3.250		10/22/30	366,392
	350,000		4.500		10/26/46	306,383
	200,000		4.625		10/04/47	176,413
	200,000		4.500		04/22/60	173,262
						2,323,136
Senegal – 0.2%
Senegal Government International Bond (B+/Ba3)
	200,000		6.750		03/13/48	133,000
South Africa – 3.6%
Republic of South Africa Government International Bond (BB-/Ba2)
	350,000		5.875		09/16/25	345,734
	335,000		4.850		09/27/27	309,501
	350,000		4.300		10/12/28	302,048
	350,000		5.875		06/22/30	315,886
	200,000		5.375		07/24/44	136,328
	600,000		5.750		09/30/49	406,767
	400,000		7.300		04/20/52	321,330
						2,137,594
Trinidad and Tobago – 0.3%
Trinidad & Tobago Government International Bond (NR/NR)
	200,000		4.500		08/04/26	195,500
Turkey – 4.9%
Turkey Government International Bond (NR/B3)
	325,000		6.350		08/10/24	314,381
	525,000		5.600		11/14/24	498,109
	350,000		7.375		02/05/25	338,707
	330,000		4.250		03/13/25	302,451
	525,000		4.875		10/09/26	457,772
	100,000		11.875		01/15/30	111,125
	362,000		6.875		03/17/36	293,131
	200,000		6.000		01/14/41	140,908
	725,000		5.750		05/11/47	477,594
						2,934,178

GOLDMAN SACHS ACCESS EMERGING MARKETS USD BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
United Arab Emirates – 1.2%
UAE Government International Bond (NR/Aa2)
$	350,000		2.000	%	10/19/31	$     297,266
	200,000		2.875		10/19/41	154,434
	375,000		3.250		10/19/61	269,721
						721,421
Uruguay – 3.3%
Uruguay Government International Bond (BBB+/Baa2)
	150,000		4.375		10/27/27	150,563
	408,000		4.375		01/23/31	408,000
	50,000		7.875		01/15/33	62,375
	200,000		5.750		10/28/34	219,500
	200,000		7.625		03/21/36	249,500
	200,000		4.125		11/20/45	181,000
	450,000		5.100		06/18/50	443,531
	240,000		4.975		04/20/55	232,500
						1,946,969
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $53,907,464)						$50,534,187
Corporate Obligations – 13.0%
Brazil – 1.0%
Petrobras Global Finance BV (BB-/Ba1)
$	200,000		7.375	%	01/17/27	$     209,250
	200,000		5.999		01/27/28	200,250
	209,000		6.850		06/05/15	179,217
						588,717
Chile – 2.0%
Corp. Nacional del Cobre de Chile (A/A3)
	200,000		3.625		08/01/27	189,513
	200,000		3.000		09/30/29	176,937
	200,000		3.150		01/14/30	177,438
	400,000		4.500		08/01/47	334,292
	200,000		3.700		01/30/50	147,500
Empresa de Transporte de Pasajeros Metro SA (NR/NR)
	200,000		4.700		05/07/50	166,686
						1,192,366
China – 1.2%
China Development Bank, Series EMTN (A+/A1)
	200,000		3.000		06/01/26	190,810
China Development Bank Financial Leasing Co. Ltd.(b) (BBB+/NR) (US 5 Year CMT T-Note + 2.750%)
	200,000		2.875		09/28/30	187,590
Export-Import Bank of China (The) (A+/A1)
	350,000		3.625		07/31/24	344,060
						722,460
India – 2.8%
Export-Import Bank of India (BBB-/Baa3)
	200,000		3.375		08/05/26	188,524

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
India – (continued)
Export-Import Bank of India (BBB-/Baa3) – (continued)
$	200,000		3.875	%	02/01/28	$     189,640
	250,000		3.250		01/15/30	222,881
Export-Import Bank of India, GMTN (NR/Baa3)
	275,000		3.875		03/12/24	271,593
Indian Railway Finance Corp Ltd. (BBB-/Baa3)
	350,000		2.800		02/10/31	294,325
	200,000		3.570		01/21/32	176,198
REC Ltd. (NR/Baa3)
	303,000		5.625		04/11/28	303,920
						1,647,081
Indonesia – 1.5%
Pertamina Persero PT (NR/Baa2)
	757,000		3.100		08/27/30	668,999
	200,000		6.450		05/30/44	207,500
						876,499
Mexico – 2.0%
Petroleos Mexicanos (BBB/B1)
	100,000		6.875		10/16/25	95,947
	200,000		4.500		01/23/26	177,234
	180,000		6.500		03/13/27	155,698
	25,000		5.350		02/12/28	20,213
	50,000		6.500		01/23/29	41,090
	100,000		6.840		01/23/30	77,850
	250,000		5.950		01/28/31	179,687
	25,000		6.625		06/15/35	16,934
	25,000		6.500		06/02/41	15,510
	50,000		5.625		01/23/46	27,493
	428,000		6.750		09/21/47	258,402
	75,000		7.690		01/23/50	48,531
	100,000		6.950		01/28/60	59,622
						1,174,211
Peru – 0.2%
Petroleos del Peru SA (BB/NR)
	200,000		5.625		06/19/47	123,000
Philippines – 0.3%
Power Sector Assets & Liabilities Management Corp. (BBB+/Baa2)
	200,000		7.390		12/02/24	208,000
Qatar – 0.8%
QatarEnergy (NR/NR)
	309,000		2.250		07/12/31	260,357
	300,000		3.300		07/12/51	215,800
						476,157
Saudi Arabia – 0.9%
Saudi Arabian Oil Co. (NR/A1)
	375,000		3.500		04/16/29	349,414
	200,000		4.250		04/16/39	177,870
						527,284

GOLDMAN SACHS ACCESS EMERGING MARKETS USD BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
South Africa – 0.3%
Eskom Holdings SOC Ltd. (BB-/Ba2)
$	200,000		4.314	%	07/23/27	$     172,500
TOTAL CORPORATE OBLIGATIONS (Cost $8,129,679)						$  7,708,275
Shares		Dividend Rate				Value
Investment Company – 0.4%(c)
Goldman Sachs Financial Square Government Fund – Institutional Shares
	243,138		5.003%			$     243,138
(Cost $243,138)
TOTAL INVESTMENTS – 98.5% (Cost $62,280,281)						$58,485,600
OTHER ASSETS IN EXCESS OF     LIABILITIES – 1.5%						901,213
NET ASSETS – 100.0%						$59,386,813

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Step coupon.
(b)	Variable rate security. Interest rate or distribution rate disclosed is that which is in effect on May 31, 2023.
(c)	Represents an affiliated issuer.

Investment Abbreviations:
CMT	— Constant Maturity Treasury Index
GMTN	— Global Medium Term Note
MTN	— Medium Term Note

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – 91.2%
Advertising – 1.2%
Clear Channel Outdoor Holdings, Inc. (B/B1)
$	316,000		5.125	%(a)	08/15/27	$     277,685
	136,000		7.500	(a)	06/01/29	97,240
Lamar Media Corp. (BB/Ba3)
	179,000		3.750		02/15/28	161,995
	234,000		4.000		02/15/30	205,920
Outfront Media Capital LLC / Outfront Media Capital Corp.(a) (B+/B2)
	365,000		6.250		06/15/25	365,456
						1,108,296
Aerospace & Defense – 2.7%
Howmet Aerospace, Inc. (BB+/Ba1)
	590,000		6.875		05/01/25	604,013
TransDigm, Inc. (B+/Ba3)
	758,000		6.250	(a)	03/15/26	754,210
	62,000		6.375		06/15/26	61,612
	46,000		7.500		03/15/27	46,058
	523,000		5.500		11/15/27	493,581
	730,000		4.625		01/15/29	649,700
						2,609,174
Banks – 0.4%
Freedom Mortgage Corp. (B/B2)
	179,000		8.250	(a)	04/15/25	170,945
	197,000		7.625	(a)	05/01/26	172,868
						343,813
Basic Industry – 2.3%
Axalta Coating Systems LLC(a) (BB-/B1)
	280,000		3.375		02/15/29	241,150
Chemours Co. (The)(a) (BB/B1)
	213,000		5.750		11/15/28	189,037
Olin Corp. (BB+/Ba1)
	289,000		5.625		08/01/29	278,163
	170,000		5.000		02/01/30	155,762
Olympus Water US Holding Corp.(a) (B-/B3)
	280,000		4.250		10/01/28	225,750
SCIH Salt Holdings, Inc.(a) (CCC+/Caa2)
	317,000		6.625		05/01/29	263,506
Tronox, Inc.(a) (BB-/B1)
	438,000		4.625		03/15/29	355,328
Valvoline, Inc.(a) (B+/Ba3)
	247,000		3.625		06/15/31	204,393
WR Grace Holdings LLC (B/B1)
	200,000		4.875	(a)	06/15/27	186,250
	160,000		5.625	(a)	08/15/29	133,800
						2,233,139

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Broadcasting – 3.2%
CMG Media Corp.(a) (CCC+/Caa1)
$	315,000		8.875	%	12/15/27	$     203,963
Gray Escrow II, Inc.(a) (B/B3)
	165,000		5.375		11/15/31	106,219
Gray Television, Inc.(a) (B/B3)
	228,000		4.750		10/15/30	149,340
Nexstar Media, Inc.(a) (BB+/B2)
	407,000		5.625		07/15/27	373,931
Scripps Escrow, Inc.(a) (B/B3)
	77,000		5.875		07/15/27	59,675
Sinclair Television Group, Inc.(a) (BB-/Ba2)
	219,000		4.125		12/01/30	143,445
Sirius XM Radio, Inc. (BB/Ba3)
	476,000		5.000	(a)	08/01/27	431,970
	494,000		4.000	(a)	07/15/28	414,960
	326,000		3.875	(a)	09/01/31	241,444
TEGNA, Inc. (BB+/Ba3)
	126,000		4.625		03/15/28	110,565
	361,000		5.000		09/15/29	309,557
Univision Communications, Inc. (B+/B1)
	144,000		5.125	(a)	02/15/25	140,220
	94,000		6.625	(a)	06/01/27	89,300
	280,000		4.500	(a)	05/01/29	235,900
						3,010,489
Brokerage – 0.9%
Coinbase Global, Inc.(a) (BB-/B1)
	348,000		3.375		10/01/28	219,675
Jefferies Finance LLC / JFIN Co.-Issuer Corp.(a) (BB-/B1)
	470,000		5.000		08/15/28	382,187
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.(a) (BB-/Ba2)
	297,000		4.750		06/15/29	233,145
						835,007
Building Materials – 1.1%
American Builders & Contractors Supply Co., Inc.(a) (BB+/Ba2)
	177,000		4.000		01/15/28	161,513
Builders FirstSource, Inc. (BB-/Ba2)
	88,000		5.000	(a)	03/01/30	81,730
	301,000		4.250	(a)	02/01/32	259,236
Camelot Return Merger Sub, Inc.(a) (B/B2)
	103,000		8.750		08/01/28	97,335
Standard Industries, Inc. (BB/B1)
	329,000		4.375	(a)	07/15/30	278,825
	179,000		3.375	(a)	01/15/31	140,295
						1,018,934

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Capital Goods – 4.8%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC(a) (B+/Caa1)
$	700,000		4.000	%	09/01/29	$     549,937
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. (B-/Caa1)
	400,000		5.250	(a)	08/15/27	339,000
	200,000		5.250	(a)	08/15/27	169,000
ASP Unifrax Holdings, Inc.(a) (CCC+/Caa2)
	204,000		7.500		09/30/29	143,820
Chart Industries, Inc.(a) (B+/Ba3)
	302,000		7.500		01/01/30	306,530
Clydesdale Acquisition Holdings, Inc. (CCC+/Caa2)
	51,000		6.625	(a)	04/15/29	48,514
	215,000		8.750	(a)	04/15/30	186,781
Covanta Holding Corp.(a) (B/B2)
	337,000		4.875		12/01/29	293,530
Crown Americas LLC / Crown Americas Capital Corp V (BB+/Ba2)
	213,000		4.250		09/30/26	203,415
Crown Americas LLC / Crown Americas Capital Corp. VI (BB+/Ba2)
	148,000		4.750		02/01/26	144,300
Herc Holdings, Inc.(a) (B+/Ba3)
	226,000		5.500		07/15/27	215,830
LABL, Inc. (B-/B2)
	233,000		6.750	(a)	07/15/26	224,845
	152,000		10.500	(a)	07/15/27	141,740
Mauser Packaging Solutions Holding Co.(a) (B/B2)
	645,000		7.875		08/15/26	640,969
Sealed Air Corp. (BB+/Ba2)
	91,000		5.125	(a)	12/01/24	90,659
	120,000		5.500	(a)	09/15/25	119,700
	167,000		6.875	(a)	07/15/33	171,384
Sensata Technologies, Inc.(a) (BB+/Ba3)
	428,000		3.750		02/15/31	364,870
Stericycle, Inc.(a) (BB-/NR)
	306,000		3.875		01/15/29	271,193
						4,626,017
Communications – 5.8%
CCO Holdings LLC / CCO Holdings Capital Corp. (BB-/B1)
	300,000		5.125	(a)	05/01/27	278,250
	400,000		5.000	(a)	02/01/28	364,000
	300,000		5.375	(a)	06/01/29	270,375
	450,000		4.750	(a)	03/01/30	380,250
	300,000		4.500	(a)	08/15/30	248,250
	350,000		4.250	(a)	02/01/31	279,125
	440,000		7.375	(a)	03/01/31	421,300
	450,000		4.500		05/01/32	353,812
	300,000		4.250	(a)	01/15/34	222,000

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Communications – (continued)
CSC Holdings LLC (B/B1)
$	76,000		5.250	%	06/01/24	$       70,870
	200,000		5.500	(a)	04/15/27	164,500
	250,000		7.500	(a)	04/01/28	135,625
	400,000		6.500	(a)	02/01/29	317,000
	240,000		5.750	(a)	01/15/30	105,900
	250,000		4.125	(a)	12/01/30	174,375
	400,000		4.625	(a)	12/01/30	172,000
	250,000		3.375	(a)	02/15/31	171,250
	435,000		4.500	(a)	11/15/31	303,413
Directv Financing LLC / Directv Financing Co.-Obligor, Inc.(a) (BB/Ba3)
	508,000		5.875		08/15/27	448,310
Live Nation Entertainment, Inc.(a) (B/B2)
	442,000		4.750		10/15/27	411,060
WMG Acquisition Corp. (BB+/Ba2)
	232,000		3.875	(a)	07/15/30	198,940
	93,000		3.000	(a)	02/15/31	75,446
						5,566,051
Consumer Cyclical – 15.5%
ADT Security Corp. (The) (BB/Ba3)
	86,000		4.125	(a)	08/01/29	74,390
	46,000		4.875	(a)	07/15/32	39,387
Allison Transmission, Inc.(a) (NR/Ba2)
	289,000		3.750		01/30/31	244,205
American Axle & Manufacturing, Inc. (B+/B2)
	263,000		6.875		07/01/28	236,700
	126,000		5.000		10/01/29	102,690
APX Group, Inc.(a) (BB/Ba2)
	200,000		6.750		02/15/27	197,750
Asbury Automotive Group, Inc.(a) (BB/B1)
	200,000		4.625		11/15/29	176,250
Boyd Gaming Corp. (BB/B1)
	108,000		4.750		12/01/27	102,330
	146,000		4.750	(a)	06/15/31	130,305
Caesars Entertainment, Inc. (B/Ba3)
	680,000		6.250	(a)	07/01/25	680,000
	305,000		8.125	(a)	07/01/27	311,160
	375,000		4.625	(a)	10/15/29	324,375
Carnival Corp. (B/B3)
	100,000		10.500	(a)	02/01/26	104,000
	841,000		7.625	(a)	03/01/26	801,052
	908,000		6.000	(a)	05/01/29	754,775
Carnival Holdings Bermuda Ltd.(a) (B+/B2)
	273,000		10.375		05/01/28	296,205
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op(a) (BB+/Ba2)
	185,000		5.500		05/01/25	184,075

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
Churchill Downs, Inc. (B+/B1)
$	277,000		5.500	%(a)	04/01/27	$     267,305
	215,000		4.750	(a)	01/15/28	199,950
Clarios Global LP / Clarios US Finance Co.(a) (B-/Caa1)
	296,000		8.500		05/15/27	297,480
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. (B/B2)
	147,000		4.625	(a)	01/15/29	128,257
	44,000		6.750	(a)	01/15/30	35,860
Gap, Inc. (The)(a) (BB/B1)
	212,000		3.875		10/01/31	146,810
Hilton Domestic Operating Co., Inc. (BB+/Ba2)
	220,000		5.750	(a)	05/01/28	217,250
	145,000		3.750	(a)	05/01/29	128,325
	45,000		4.875		01/15/30	41,794
	303,000		4.000	(a)	05/01/31	263,011
	259,000		3.625	(a)	02/15/32	214,832
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc(a) (B/B2)
	438,000		5.000		06/01/29	391,462
Iron Mountain, Inc. (BB-/Ba3)
	200,000		4.875	(a)	09/15/27	188,250
	256,000		5.250	(a)	03/15/28	240,320
	341,000		5.250	(a)	07/15/30	306,900
	250,000		4.500	(a)	02/15/31	213,906
LCM Investments Holdings II LLC(a) (BB-/B2)
	300,000		4.875		05/01/29	250,500
Macy’s Retail Holdings LLC (BB+/Ba2)
	200,000		5.875	(a)	04/01/29	177,500
	101,000		6.125	(a)	03/15/32	86,102
MGM Resorts International (BB-/B1)
	79,000		5.750		06/15/25	78,901
	173,000		4.625		09/01/26	164,350
	190,000		5.500		04/15/27	182,638
	160,000		4.750		10/15/28	146,600
Mohegan Tribal Gaming Authority(a) (B-/B3)
	209,000		8.000		02/01/26	182,353
NCL Corp Ltd.(a) (B-/Caa1)
	207,000		3.625		12/15/24	198,720
NCL Corp. Ltd. (B-/Caa1)
	290,000		5.875	(a)	03/15/26	265,350
	119,000		7.750	(a)	02/15/29	107,100
Nordstrom, Inc. (BB+/Ba1)
	251,000		4.375		04/01/30	199,545
PetSmart, Inc. / PetSmart Finance Corp. (B-/B3)
	250,000		4.750	(a)	02/15/28	232,813
	250,000		7.750	(a)	02/15/29	243,750

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
Prime Security Services Borrower LLC / Prime Finance, Inc. (B/B3)
$	88,000		3.375	%(a)	08/31/27	$       76,890
	358,000		6.250	(a)	01/15/28	329,808
RHP Hotel Properties LP / RHP Finance Corp.(a) (B+/B1)
	205,000		4.500		02/15/29	181,425
Royal Caribbean Cruises Ltd. (B/B3)
	216,000		11.500	(a)	06/01/25	228,150
	437,000		4.250	(a)	07/01/26	402,040
	150,000		3.700		03/15/28	128,250
	351,000		5.500	(a)	04/01/28	323,798
Scientific Games International, Inc. (B+/B3)
	145,000		7.000	(a)	05/15/28	143,912
	46,000		7.250	(a)	11/15/29	45,943
Six Flags Entertainment Corp.(a) (B/B3)
	150,000		5.500		04/15/27	142,313
Staples, Inc. (B/B3)
	238,000		7.500	(a)	04/15/26	196,945
	176,000		10.750	(a)	04/15/27	108,240
Taylor Morrison Communities, Inc.(a) (BB/Ba2)
	143,000		5.125		08/01/30	132,811
Travel + Leisure Co.(a) (BB-/Ba3)
	260,000		6.625		07/31/26	258,700
Williams Scotsman International, Inc.(a) (B+/B2)
	223,000		6.125		06/15/25	223,000
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. (B+/B2)
	430,000		5.500	(a)	03/01/25	421,938
	100,000		5.250	(a)	05/15/27	94,875
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.(a) (B+/B2)
	200,000		5.125		10/01/29	179,500
Yum! Brands, Inc. (BB/Ba3)
	161,000		4.750	(a)	01/15/30	151,742
	164,000		3.625		03/15/31	141,040
	375,000		5.375		04/01/32	357,188
						14,826,091
Consumer Noncyclical – 5.2%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (BB/Ba3)
	616,000		4.625	(a)	01/15/27	585,970
	239,000		3.500	(a)	03/15/29	209,125
	205,000		4.875	(a)	02/15/30	190,650
Allied Universal Holdco LLC / Allied Universal Finance Corp. (CCC+/Caa1)
	62,000		6.625	(a)	07/15/26	58,590
	680,000		6.000	(a)	06/01/29	506,600
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl(a) (B/B2)
	200,000		4.625		06/01/28	166,750

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Avantor Funding, Inc.(a) (BB/B2)
$	396,000		4.625	%	07/15/28	$     367,785
Hologic, Inc. (BB+/Ba2)
	104,000		4.625	(a)	02/01/28	98,800
	199,000		3.250	(a)	02/15/29	174,622
Medline Borrower LP (B+/B1)
	998,000		3.875	(a)	04/01/29	863,270
	121,000		5.250	(a)	10/01/29	104,060
Molina Healthcare, Inc.(a) (BB-/Ba3)
	470,000		4.375		06/15/28	431,225
Organon & Co. / Organon Foreign Debt Co.-Issuer BV (BB/Ba2)
	730,000		4.125	(a)	04/30/28	651,525
	290,000		5.125	(a)	04/30/31	247,588
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc.(a) (CCC+/Caa2)
	343,000		9.750		12/01/26	257,250
Vector Group Ltd.(a) (B-/Caa1)
	60,000		10.500		11/01/26	60,225
						4,974,035
Consumer Products – 1.0%
Coty, Inc.(a) (BB/Ba2)
	382,000		5.000		04/15/26	367,675
Newell Brands, Inc. (BB+/Ba1)
	200,000		6.625		09/15/29	189,714
	100,000		5.875		04/01/36	80,100
Scotts Miracle-Gro Co. (The) (B/B1)
	200,000		4.500		10/15/29	171,500
Tempur Sealy International, Inc.(a) (BB+/Ba2)
	200,000		4.000		04/15/29	170,750
						979,739
Distribution & Logistics – 0.2%
WESCO Distribution, Inc.(a) (BB/Ba3)
	171,000		7.250		06/15/28	175,275
Electric – 3.4%
Calpine Corp. (BB+/Ba2)
	191,000		5.250	(a)	06/01/26	185,747
	150,000		4.625	(a)	02/01/29	127,500
	68,000		5.000	(a)	02/01/31	55,250
	277,000		3.750	(a)	03/01/31	226,448
Clearway Energy Operating LLC(a) (BB/Ba2)
	497,000		3.750		02/15/31	418,722
FirstEnergy Corp. (BB+/Ba1)
	520,000		2.650		03/01/30	443,950
FirstEnergy Corp., Series B (BB+/Ba1)
	126,000		4.150		07/15/27	120,960
NRG Energy, Inc. (BB/Ba2)
	310,000		5.250	(a)	06/15/29	279,775

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
NRG Energy, Inc. (BB/Ba2) – (continued)
$	92,000		3.625	%(a)	02/15/31	$       72,916
	322,000		3.875	(a)	02/15/32	250,355
PG&E Corp. (BB-/B1)
	514,000		5.250		07/01/30	465,170
Vistra Operations Co. LLC (BB/Ba2)
	187,000		5.625	(a)	02/15/27	179,754
	385,000		5.000	(a)	07/31/27	361,900
	84,000		4.375	(a)	05/01/29	73,710
						3,262,157
Energy – 10.8%
Antero Midstream Partners LP / Antero Midstream Finance Corp. (BB/Ba3)
	167,000		5.750	(a)	03/01/27	160,737
	71,000		5.750	(a)	01/15/28	67,983
Antero Resources Corp.(a) (BB+/Ba2)
	126,000		7.625		02/01/29	128,520
Apache Corp. (BB+/Ba1)
	159,000		6.000		01/15/37	147,075
Archrock Partners LP / Archrock Partners Finance Corp.(a) (B+/B2)
	297,000		6.875		04/01/27	286,234
Ascent Resources Utica Holdings LLC / ARU Finance Corp.(a) (B+/B3)
	159,000		5.875		06/30/29	140,119
Buckeye Partners LP (BB-/B1)
	68,000		3.950		12/01/26	60,860
	144,000		4.125		12/01/27	127,099
	152,000		4.500	(a)	03/01/28	134,140
Callon Petroleum Co.(a) (BB-/B3)
	351,000		8.000		08/01/28	343,980
Comstock Resources, Inc. (B+/B2)
	108,000		6.750	(a)	03/01/29	95,310
	132,000		5.875	(a)	01/15/30	110,550
CQP Holdco LP / BIP-V Chinook Holdco LLC(a) (BB/B1)
	500,000		5.500		06/15/31	448,750
CrownRock LP / CrownRock Finance, Inc.(a) (BB-/B1)
	391,000		5.625		10/15/25	386,112
DT Midstream, Inc.(a) (BB+/Ba2)
	197,000		4.375		06/15/31	165,972
Endeavor Energy Resources LP / EER Finance, Inc.(a) (BB+/Ba2)
	193,000		5.750		01/30/28	192,035
EnLink Midstream LLC (BB+/Ba1)
	143,000		5.375		06/01/29	136,005
EnLink Midstream Partners LP (BB+/Ba1)
	335,000		4.850		07/15/26	324,386
EQM Midstream Partners LP (BB-/Ba3)
	315,000		6.000	(a)	07/01/25	313,425
	170,000		6.500	(a)	07/01/27	166,812
	67,000		5.500		07/15/28	62,980

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
EQM Midstream Partners LP (BB-/Ba3) – (continued)
$	210,000		4.500	%(a)	01/15/29	$     184,800
	246,000		4.750	(a)	01/15/31	212,483
Hess Midstream Operations LP (BB+/Ba2)
	82,000		5.125	(a)	06/15/28	77,182
	248,000		4.250	(a)	02/15/30	214,830
	100,000		5.500	(a)	10/15/30	91,000
Hilcorp Energy I LP / Hilcorp Finance Co. (BB+/Ba3)
	75,000		6.250	(a)	11/01/28	70,312
	277,000		5.750	(a)	02/01/29	251,378
ITT Holdings LLC(a) (B/B2)
	260,000		6.500		08/01/29	208,650
Moss Creek Resources Holdings, Inc. (B+/B3)
	139,000		7.500	(a)	01/15/26	128,575
	265,000		10.500	(a)	05/15/27	255,725
Nabors Industries Ltd.(a) (CCC/B3)
	199,000		7.250		01/15/26	182,831
Nabors Industries, Inc. (CCC/Caa1)
	81,000		5.750		02/01/25	77,557
New Fortress Energy, Inc.(a) (BB/B1)
	578,000		6.500		09/30/26	512,975
PBF Holding Co. LLC / PBF Finance Corp. (BB/B1)
	81,000		7.250		06/15/25	80,797
	340,000		6.000		02/15/28	317,900
Range Resources Corp. (BB/Ba3)
	199,000		4.875		05/15/25	196,513
	164,000		8.250		01/15/29	170,765
SM Energy Co. (BB-/B2)
	90,000		6.750		09/15/26	87,525
	199,000		6.625		01/15/27	193,528
Southwestern Energy Co. (BB+/Ba2)
	293,000		5.375		03/15/30	270,293
	100,000		4.750		02/01/32	86,750
Sunoco LP / Sunoco Finance Corp. (BB/Ba3)
	130,000		6.000		04/15/27	128,050
	200,000		4.500		05/15/29	178,500
Transocean Titan Financing Ltd.(a) (B-/B2)
	100,000		8.375		02/01/28	101,125
Transocean, Inc. (B-/B2)
	87,000		11.500	(a)	01/30/27	89,175
	610,000		8.750	(a)	02/15/30	610,763
USA Compression Partners LP / USA Compression Finance Corp. (B+/B3)
	340,000		6.875		04/01/26	326,400
Venture Global Calcasieu Pass LLC (BB+/Ba2)
	548,000		3.875	(a)	08/15/29	478,815
	247,000		3.875	(a)	11/01/33	202,849

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
Weatherford International Ltd.(a) (BB-/Ba3)
$	300,000		6.500	%	09/15/28	$     297,750
						10,284,880
Financial Company – 4.3%
Coinbase Global, Inc.(a) (BB-/B1)
	250,000		3.625		10/01/31	145,937
Curo Group Holdings Corp.(a) (CCC-/Caa3)
	323,000		7.500		08/01/28	74,290
HUB International Ltd.(a) (B-/Caa2)
	290,000		7.000		05/01/26	287,100
Icahn Enterprises LP / Icahn Enterprises Finance Corp. (BB/Ba3)
	591,000		6.375		12/15/25	534,444
	317,000		5.250		05/15/27	262,317
LD Holdings Group LLC(a) (CCC+/Caa1)
	239,000		6.125		04/01/28	155,350
Midcap Financial Issuer Trust(a) (B+/B1)
	500,000		6.500		05/01/28	441,250
Nationstar Mortgage Holdings, Inc. (B/B1)
	130,000		6.000	(a)	01/15/27	119,275
	253,000		5.500	(a)	08/15/28	220,110
Navient Corp. (B+/Ba3)
	108,000		5.875		10/25/24	106,178
	164,000		6.750		06/25/25	159,695
	121,000		6.750		06/15/26	114,726
Navient Corp., MTN (B+/Ba3)
	197,000		5.625		08/01/33	142,086
NFP Corp.(a) (CCC+/Caa2)
	342,000		6.875		08/15/28	285,143
PennyMac Financial Services, Inc.(a) (B+/Ba3)
	302,000		5.375		10/15/25	281,615
Rocket Mortgage LLC(a) (BB/Ba1)
	244,000		5.250		01/15/28	230,052
Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc.(a) (BB/Ba1)
	386,000		3.875		03/01/31	306,090
United Wholesale Mortgage LLC(a) (NR/Ba3)
	281,000		5.500		04/15/29	236,040
						4,101,698
Food and Beverage – 3.0%
Aramark Services, Inc.(a) (BB-/B1)
	413,000		5.000		02/01/28	392,350
Darling Ingredients, Inc.(a) (BB+/Ba2)
	452,000		5.250		04/15/27	440,417
HLF Financing Sarl LLC / Herbalife International, Inc.(a) (B+/B1)
	50,000		4.875		06/01/29	34,250
Lamb Weston Holdings, Inc.(a) (BB+/Ba3)
	455,000		4.125		01/31/30	408,363

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Food and Beverage – (continued)
Performance Food Group, Inc.(a) (BB-/B2)
$	488,000		5.500	%	10/15/27	$     471,530
Post Holdings, Inc. (B+/B2)
	279,000		5.750	(a)	03/01/27	274,117
	180,000		5.625	(a)	01/15/28	174,375
	273,000		5.500	(a)	12/15/29	254,573
	270,000		4.500	(a)	09/15/31	229,500
US Foods, Inc.(a) (BB-/B3)
	200,000		4.750		02/15/29	182,750
						2,862,225
Hardware – 1.8%
CommScope Technologies LLC(a) (CCC+/Caa1)
	300,000		5.000		03/15/27	203,250
CommScope, Inc. (B/B1)
	879,000		6.000	(a)	03/01/26	824,062
	80,000		7.125	(a)	07/01/28	54,600
NCR Corp. (B/B3)
	341,000		5.750	(a)	09/01/27	341,171
	54,000		5.000	(a)	10/01/28	48,060
	62,000		6.125	(a)	09/01/29	61,690
	190,000		5.250	(a)	10/01/30	163,400
						1,696,233
Healthcare – 5.5%
AdaptHealth LLC(a) (B/B1)
	200,000		5.125		03/01/30	155,250
CHS/Community Health Systems, Inc. (B-/B3)
	226,000		6.000	(a)	01/15/29	183,060
	238,000		6.875	(a)	04/15/29	134,470
	437,000		5.250	(a)	05/15/30	328,843
	419,000		4.750	(a)	02/15/31	302,727
DaVita, Inc. (B+/B1)
	376,000		4.625	(a)	06/01/30	323,360
	163,000		3.750	(a)	02/15/31	129,585
Encompass Health Corp. (B+/B1)
	421,000		4.750		02/01/30	382,058
IQVIA, Inc.(a) (BB/Ba2)
	280,000		5.000		05/15/27	272,300
Legacy LifePoint Health LLC(a) (B/B2)
	292,000		4.375		02/15/27	220,460
MPH Acquisition Holdings LLC(a) (CCC+/Caa1)
	297,000		5.750		11/01/28	213,840
MPT Operating Partnership LP / MPT Finance Corp. (BB+/Ba1)
	300,000		5.000		10/15/27	246,562
	175,000		3.500		03/15/31	118,340
Service Corp. International (BB/Ba3)
	115,000		4.625		12/15/27	109,250
	468,000		5.125		06/01/29	446,940

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare – (continued)
Tenet Healthcare Corp. (B-/B3)
$	94,000		4.625	%	07/15/24	$       94,000
	397,000		4.875		01/01/26	386,579
	290,000		6.250		02/01/27	285,650
	205,000		5.125		11/01/27	196,800
	93,000		4.625		06/15/28	86,722
	468,000		6.125		10/01/28	445,185
	220,000		4.250		06/01/29	197,450
						5,259,431
Insurance – 1.1%
Acrisure LLC / Acrisure Finance, Inc. (CCC+/Caa2)
	80,000		7.000	(a)	11/15/25	76,033
	163,000		10.125	(a)	08/01/26	164,630
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer(a) (B/B2)
	783,000		4.250		10/15/27	704,700
AssuredPartners, Inc.(a) (CCC+/Caa2)
	80,000		5.625		01/15/29	69,200
						1,014,563
Metals – 0.5%
Novelis Corp. (BB/Ba3)
	471,000		4.750	(a)	01/30/30	420,368
	60,000		3.875	(a)	08/15/31	49,500
						469,868
Metals and Mining – 0.4%
Cleveland-Cliffs, Inc.(a) (BB+/Ba2)
	386,000		6.750		03/15/26	391,307
Natural Gas – 2.6%
AmeriGas Partners LP / AmeriGas Finance Corp. (NR/B1)
	295,000		5.500		05/20/25	285,412
	75,000		5.750		05/20/27	67,875
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. (BB/Ba3)
	69,000		5.625	(a)	05/01/27	65,377
	382,000		6.000	(a)	02/01/29	354,305
Ferrellgas LP / Ferrellgas Finance Corp.(a) (B/B2)
	376,000		5.375		04/01/26	342,160
Genesis Energy LP / Genesis Energy Finance Corp. (B/B2)
	601,000		8.000		01/15/27	587,478
NGL Energy Operating LLC / NGL Energy Finance Corp.(a) (B+/B2)
	128,000		7.500		02/01/26	122,720
NuStar Logistics LP (BB-/Ba3)
	100,000		6.000		06/01/26	97,250
	100,000		5.625		04/28/27	95,500
Rockies Express Pipeline LLC(a) (BB+/Ba2)
	268,000		4.950		07/15/29	241,200
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. (BB-/B1)
	153,000		6.000	(a)	03/01/27	144,203

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Natural Gas – (continued)
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. (BB-/B1) – (continued)
$	111,000		5.500	%(a)	01/15/28	$     100,177
						2,503,657
Pharmaceuticals – 1.4%
Bausch Health Americas, Inc.(a) (CCC-/Ca)
	206,000		9.250		04/01/26	170,980
Bausch Health Cos., Inc. (CCC+/Caa1)
	699,000		5.500	(a)	11/01/25	622,110
	400,000		4.875	(a)	06/01/28	243,000
	414,000		11.000	(a)	09/30/28	314,640
						1,350,730
REITs and Real Estate – 2.3%
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL(a) (BB+/B1)
	500,000		5.750		05/15/26	444,621
Diversified Healthcare Trust (B/Caa3)
	268,000		4.375		03/01/31	192,290
Howard Hughes Corp. (The)(a) (BB-/Ba3)
	236,000		4.375		02/01/31	188,210
Kennedy-Wilson, Inc. (BB-/B2)
	249,000		5.000		03/01/31	186,750
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer(a) (B+/B1)
	316,000		4.875		05/15/29	272,550
Service Properties Trust (BB/B1)
	239,000		7.500		09/15/25	234,582
	60,000		4.950		10/01/29	45,750
	278,000		4.375		02/15/30	203,635
Starwood Property Trust, Inc. (BB-/Ba3)
	434,000		3.750	(a)	12/31/24	408,025
	60,000		4.750		03/15/25	56,550
						2,232,963
Rental Equipment – 1.6%
Avis Budget Car Rental LLC / Avis Budget Finance, Inc.(a) (BB-/B1)
	229,000		5.375		03/01/29	206,386
H&E Equipment Services, Inc.(a) (BB-/B1)
	460,000		3.875		12/15/28	393,875
Hertz Corp. (The)(a) (B+/Caa1)
	300,000		5.000		12/01/29	240,750
United Rentals North America, Inc. (BB+/Ba2)
	178,000		5.500		05/15/27	176,238
	180,000		4.875		01/15/28	172,575
	140,000		5.250		01/15/30	133,350
	281,000		3.875		02/15/31	242,714
						1,565,888

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Software – 1.4%
Cloud Software Group, Inc.(a) (B/B2)
$	587,000		6.500	%	03/31/29	$     522,430
Gartner, Inc.(a) (BB+/Ba1)
	479,000		4.500		07/01/28	453,254
SS&C Technologies, Inc.(a) (B+/B2)
	412,000		5.500		09/30/27	393,316
						1,369,000
Technology – 2.0%
Arches Buyer, Inc. (CCC+/Caa1)
	152,000		4.250	(a)	06/01/28	128,820
	247,000		6.125	(a)	12/01/28	214,272
Imola Merger Corp.(a) (BB-/B1)
	328,000		4.750		05/15/29	282,900
McAfee Corp.(a) (CCC+/Caa2)
	302,000		7.375		02/15/30	254,813
Uber Technologies, Inc.(a) (B/B1)
	500,000		4.500		08/15/29	458,750
Veritas US, Inc. / Veritas Bermuda Ltd.(a) (B-/B3)
	260,000		7.500		09/01/25	194,116
Verscend Escrow Corp.(a) (CCC+/Caa2)
	215,000		9.750		08/15/26	215,414
Xerox Holdings Corp.(a) (BB/Ba2)
	200,000		5.500		08/15/28	170,500
						1,919,585
Transportation – 2.5%
American Airlines, Inc.(a) (B+/Ba3)
	371,000		11.750		07/15/25	407,636
American Airlines, Inc./AAdvantage Loyalty IP Ltd. (NR/Ba2)
	605,000		5.500	(a)	04/20/26	596,681
	726,000		5.750	(a)	04/20/29	695,330
Fortress Transportation and Infrastructure Investors LLC(a) (B/Ba2)
	95,000		6.500		10/01/25	92,863
United Airlines, Inc. (BB/Ba1)
	88,000		4.375	(a)	04/15/26	83,435
	535,000		4.625	(a)	04/15/29	485,328
						2,361,273
Wireless – 0.3%
SBA Communications Corp. (BB/Ba3)
	300,000		3.875		02/15/27	277,076
Wirelines – 2.0%
Cablevision Lightpath LLC(a) (B-/Caa1)
	200,000		5.625		09/15/28	146,000
Consolidated Communications, Inc.(a) (B-/B3)
	208,000		6.500		10/01/28	156,780
Frontier Communications Holdings LLC (B/B3)
	300,000		5.000	(a)	05/01/28	251,625
	200,000		6.750	(a)	05/01/29	148,000

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Wirelines – (continued)
Frontier Communications Holdings LLC (B/B3) – (continued)
$	150,000		6.000	%(a)	01/15/30	$     105,562
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC(a) (B/B2)
	589,000		10.500		02/15/28	572,066
Windstream Escrow LLC / Windstream Escrow Finance Corp.(a) (B-/B3)
	452,000		7.750		08/15/28	368,945
Zayo Group Holdings, Inc.(a) (B-/B3)
	225,000		4.000		03/01/27	158,344
						1,907,322
TOTAL CORPORATE OBLIGATIONS (Cost $94,267,732)						$87,135,916
Foreign Corporate Debt – 6.4%
Aerospace & Defense – 1.1%
Bombardier, Inc. (Canada) (B/B2)
$	704,000		7.125	%(a)	06/15/26	$     695,200
	359,000		7.875	(a)	04/15/27	355,410
						1,050,610
Basic Industry – 0.8%
Methanex Corp. (Canada) (BB/Ba1)
	200,000		5.125		10/15/27	186,500
	102,000		5.250		12/15/29	93,196
NOVA Chemicals Corp. (Canada) (BB/Ba3)
	201,000		5.000	(a)	05/01/25	195,221
	283,000		5.250	(a)	06/01/27	256,823
						731,740
Capital Goods – 0.8%
ARD Finance SA(a)(b) (Luxembourg) (PIK 7.250%, Cash 6.500%) (B-/Caa3)
	200,000		6.500		06/30/27	156,000
GFL Environmental, Inc. (Canada) (B-/B3)
	271,000		4.250	(a)	06/01/25	261,176
	342,000		4.750	(a)	06/15/29	310,793
						727,969
Consumer Cyclical – 1.7%
1011778 BC ULC / New Red Finance, Inc. (Canada) (B+/B2)
	316,000		3.875	(a)	01/15/28	290,325
	54,000		4.375	(a)	01/15/28	49,747
	117,000		3.500	(a)	02/15/29	103,984
	469,000		4.000	(a)	10/15/30	405,685
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC(a) (Canada) (B+/B1)
	80,000		4.875		02/15/30	60,700
Garda World Security Corp. (Canada) (B/B2)
	167,000		4.625	(a)	02/15/27	152,179
	135,000		9.500	(a)	11/01/27	126,562

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Consumer Cyclical – (continued)
Mattamy Group Corp. (Canada) (BB/Ba3)
$	197,000		5.250	%(a)	12/15/27	$     182,270
	67,000		4.625	(a)	03/01/30	57,788
Odeon Finco PLC(a) (United Kingdom) (B/B3)
	260,000		12.750		11/01/27	251,550
						1,680,790
Energy – 0.1%
MEG Energy Corp.(a) (Canada) (BB-/B1)
	70,000		7.125		02/01/27	71,225
Mining – 1.0%
First Quantum Minerals Ltd. (Zambia) (B+/NR)
	207,000		7.500	(a)	04/01/25	206,310
	410,000		6.875	(a)	03/01/26	398,970
Hudbay Minerals, Inc.(a) (Canada) (B/B2)
	435,000		4.500		04/01/26	399,656
						1,004,936
Natural Gas – 0.3%
Parkland Corp.(a) (Canada) (BB/Ba3)
	363,000		4.625		05/01/30	315,810
Software – 0.2%
Open Text Corp.(a) (Canada) (BB-/Ba3)
	200,000		3.875		02/15/28	175,500
Wireless – 0.4%
Intelsat Jackson Holdings SA(a) (Luxembourg) (B+/B3)
	392,000		6.500		03/15/30	362,600
TOTAL FOREIGN CORPORATE DEBT (Cost $6,378,025)						$  6,121,180
Shares		Dividend Rate				Value
Investment Company – 0.6%(c)
Goldman Sachs Financial Square Government Fund – Institutional Shares
	576,771		5.003%			$     576,771
(Cost $576,771)
TOTAL INVESTMENTS – 98.2% (Cost $101,222,528)						$93,833,867
OTHER ASSETS IN EXCESS OF     LIABILITIES – 1.8%						1,756,620
NET ASSETS – 100.0%						$95,590,487

GOLDMAN SACHS ACCESS HIGH YIELD CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(b)	Pay-in-kind securities.
(c)	Represents an affiliated issuer.

Investment Abbreviations:
LP	— Limited Partnership
MTN	— Medium Term Note
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACCESS INFLATION PROTECTED USD BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount			Interest Rate			Maturity Date	Value
U.S. Treasury Inflation Indexed Bonds – 99.5%
U.S. Treasury Inflation Indexed Bonds
$		1,652,534		0.125	%	07/15/24	$    1,603,401
		6,806,940		0.125		10/15/24	6,581,559
		4,860,371		0.250		01/15/25	4,681,497
		4,027,139		0.375		07/15/25	3,882,781
		10,973,220		0.125		10/15/25	10,491,204
		10,778,411		0.625		01/15/26	10,384,626
		9,155,807		0.125		04/15/26	8,667,172
		6,387,952		0.375		07/15/27	6,060,267
		10,833,062		0.500		01/15/28	10,254,374
		4,777,334		0.750		07/15/28	4,584,449
		2,989,106		3.875		04/15/29	3,356,072
		5,174,300		0.250		07/15/29	4,792,989
		9,720,804		0.125		01/15/30	8,851,582
		5,543,670		0.125		07/15/30	5,039,666
		3,957,361		0.125		07/15/31	3,557,868
		4,538,368		0.125		01/15/32	4,051,412
		4,113,846		0.625		07/15/32	3,834,156
		5,489,602		2.125		02/15/40	5,922,475
		5,694,473		0.750		02/15/42	4,853,724
		3,935,009		0.875		02/15/47	3,309,800
		2,484,740		1.000		02/15/48	2,143,025
		1,572,545		1.000		02/15/49	1,352,826
		3,411,731		0.250		02/15/50	2,385,437
		1,409,564		0.125		02/15/52	935,001
TOTAL U.S. TREASURY INFLATION INDEXED BONDS (Cost $138,843,651)							$121,577,363
	Shares		Dividend Rate				Value
Investment Company – 0.3%(a)
Goldman Sachs Financial Square Government Fund – Institutional Shares
		336,835		5.003%			$       336,835
(Cost $336,835)
TOTAL INVESTMENTS – 99.8% (Cost $139,180,486)							$121,914,198
OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.2%							233,958
NET ASSETS – 100.0%							$122,148,156

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Represents an affiliated issuer.

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – 85.3%
Aerospace & Defense – 2.4%
Boeing Co. (The)
$	10,000		4.875	%	05/01/25	$       9,926
	20,000		2.196		02/04/26	18,439
	70,000		3.250		03/01/28	64,061
General Dynamics Corp.
	16,000		1.150		06/01/26	14,581
Huntington Ingalls Industries, Inc.
	20,000		3.483		12/01/27	18,510
L3Harris Technologies, Inc.
	16,000		3.850		12/15/26	15,440
Lockheed Martin Corp.
	50,000		3.550		01/15/26	48,857
Northrop Grumman Corp.
	8,000		3.200		02/01/27	7,627
Raytheon Technologies Corp.
	16,000		3.500		03/15/27	15,360
Textron, Inc.
	13,000		3.650		03/15/27	12,410
						225,211
Banks – 19.8%
American Express Co.
	29,000		3.125		05/20/26	27,664
	20,000		5.850		11/05/27	20,803
Bank of America Corp.
(SOFR + 0.960%)
	32,000		1.734	(a)	07/22/27	28,428
(SOFR + 1.580%)
	32,000		4.376	(a)	04/27/28	30,980
Bank of America Corp., MTN
	27,000		4.200		08/26/24	26,604
	21,000		4.000		01/22/25	20,534
(SOFR + 1.010%)
	21,000		1.197	(a)	10/24/26	18,865
(3M U.S. T-Bill MMY + 1.322%)
	25,000		3.559	(a)	04/23/27	23,766
(SOFR + 1.050%)
	51,000		2.551	(a)	02/04/28	46,187
Bank of America Corp.(a), Series N
(SOFR + 0.910%)
	17,000		1.658		03/11/27	15,292
Bank of New York Mellon Corp. (The), MTN
	20,000		1.600		04/24/25	18,788
	50,000		3.350		04/25/25	48,300
(3M U.S. T-Bill MMY + 1.331%)
	34,000		3.442	(a)	02/07/28	32,282
Charles Schwab Corp. (The)
	33,000		3.000		03/10/25	31,442
	10,000		3.850		05/21/25	9,666

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Charles Schwab Corp. (The) – (continued)
$	40,000		3.300	%	04/01/27	$     36,979
Citigroup, Inc.
(SOFR + 1.372%)
	34,000		4.140	(a)	05/24/25	33,508
(SOFR + 0.694%)
	50,000		2.014	(a)	01/25/26	47,097
	34,000		4.450		09/29/27	32,575
(3M U.S. T-Bill MMY + 1.825%)
	24,000		3.887	(a)	01/10/28	22,824
Citizens Financial Group, Inc.
	50,000		2.850		07/27/26	42,932
Comerica, Inc.
	13,000		3.800		07/22/26	11,055
Discover Financial Services
	40,000		3.750		03/04/25	38,021
	20,000		4.100		02/09/27	18,664
Fifth Third Bancorp(a)
(SOFRINDX + 2.192%)
	65,000		6.361		10/27/28	65,359
Huntington Bancshares, Inc.
	50,000		2.625		08/06/24	46,922
	18,000		4.000		05/15/25	16,893
JPMorgan Chase & Co.
	34,000		3.875		09/10/24	33,287
(3M U.S. T-Bill MMY + 1.585%)
	28,000		2.005	(a)	03/13/26	26,372
(SOFR + 1.850%)
	21,000		2.083	(a)	04/22/26	19,761
	27,000		3.200		06/15/26	25,755
	30,000		2.950		10/01/26	28,305
(SOFR + 0.800%)
	17,000		1.045	(a)	11/19/26	15,313
(SOFR + 0.885%)
	25,000		1.578	(a)	04/22/27	22,393
(SOFR + 1.560%)
	47,000		4.323	(a)	04/26/28	45,728
KeyCorp, MTN
	35,000		2.250		04/06/27	28,949
M&T Bank Corp.(a)
(SOFRINDX + 1.780%)
	20,000		4.553		08/16/28	18,715
Morgan Stanley
(SOFR + 1.990%)
	20,000		2.188	(a)	04/28/26	18,914
(SOFR + 0.879%)
	19,000		1.593	(a)	05/04/27	17,090
(SOFR + 1.610%)
	34,000		4.210	(a)	04/20/28	32,868

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Morgan Stanley – (continued)
$	34,000		3.591	%(a)	07/22/28	$     31,637
Morgan Stanley, GMTN
	34,000		3.875		01/27/26	33,124
	27,000		4.350		09/08/26	26,184
(SOFR + 0.858%)
	21,000		1.512	(a)	07/20/27	18,744
Morgan Stanley, MTN
	31,000		3.125		07/27/26	29,271
Northern Trust Corp.(a)
(3M USD LIBOR + 1.131%)
	50,000		3.375		05/08/32	44,665
PNC Financial Services Group, Inc. (The)(a)
(SOFR + 1.620%)
	20,000		5.354		12/02/28	19,974
Santander Holdings USA, Inc.
	13,000		3.450		06/02/25	12,395
	20,000		4.500		07/17/25	19,361
(SOFR + 1.249%)
	20,000		2.490	(a)	01/06/28	17,523
(SOFR + 2.356%)
	20,000		6.499	(a)	03/09/29	20,312
State Street Corp.
	20,000		3.300		12/16/24	19,417
(SOFR + 2.600%)
	13,000		2.901	(a)	03/30/26	12,423
Synchrony Financial
	31,000		4.250		08/15/24	29,406
Synovus Financial Corp.
	30,000		5.200		08/11/25	27,658
Truist Financial Corp., MTN
	30,000		2.850		10/26/24	28,754
(SOFR + 1.626%)
	50,000		5.900	(a)	10/28/26	49,533
(SOFR + 1.435%)
	20,000		4.873	(a)	01/26/29	19,365
US Bancorp, MTN
(SOFR + 0.730%)
	10,000		2.215	(a)	01/27/28	8,926
(SOFR + 1.660%)
	30,000		4.548	(a)	07/22/28	28,947
US Bancorp, Series X
	21,000		3.150		04/27/27	19,604
Wells Fargo & Co.
	6,000		3.000		04/22/26	5,681
(SOFR + 2.000%)
	26,000		2.188	(a)	04/30/26	24,496
	23,000		3.000		10/23/26	21,488

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Wells Fargo & Co., MTN
(3M U.S. T-Bill MMY + 1.012%)
$	51,000		2.164	%(a)	02/11/26	$     48,194
(3M U.S. T-Bill MMY + 1.432%)
	11,000		3.196	(a)	06/17/27	10,336
(SOFR + 1.510%)
	16,000		3.526	(a)	03/24/28	15,026
(3M U.S. T-Bill MMY + 1.572%)
	15,000		3.584	(a)	05/22/28	14,090
(SOFR + 2.100%)
	15,000		2.393	(a)	06/02/28	13,419
(SOFR + 1.980%)
	16,000		4.808	(a)	07/25/28	15,743
						1,831,576
Basic Industry – 0.3%
Linde, Inc.
	24,000		3.200		01/30/26	23,326
Building Materials – 0.7%
Allegion US Holding Co., Inc.
	50,000		3.200		10/01/24	48,180
Owens Corning
	16,000		4.200		12/01/24	15,717
						63,897
Capital Goods – 6.1%
3M Co., MTN
	20,000		3.000		08/07/25	19,307
Berry Global, Inc.
	20,000		1.650		01/15/27	17,254
Carrier Global Corp.
	12,000		2.242		02/15/25	11,380
Caterpillar Financial Services Corp.
	17,000		0.900		03/02/26	15,372
Caterpillar Financial Services Corp., MTN
	60,000		4.900		01/17/25	60,060
	20,000		3.600		08/12/27	19,424
Honeywell International, Inc.
	60,000		4.850		11/01/24	60,011
Hubbell, Inc.
	40,000		3.500		02/15/28	37,420
John Deere Capital Corp., MTN
	50,000		5.150		03/03/25	50,376
	17,000		2.350		03/08/27	15,768
	20,000		4.750		01/20/28	20,234
	20,000		1.500		03/06/28	17,440
Johnson Controls International PLC
	24,000		3.900		02/14/26	23,312
Lennox International, Inc.
	40,000		1.350		08/01/25	36,684

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Capital Goods – (continued)
Otis Worldwide Corp.
$	30,000		2.293	%	04/05/27	$     27,402
Republic Services, Inc.
	7,000		2.500		08/15/24	6,771
	9,000		2.900		07/01/26	8,518
Roper Technologies, Inc.
	16,000		1.000		09/15/25	14,601
	16,000		3.850		12/15/25	15,551
Sonoco Products Co.
	16,000		2.250		02/01/27	14,495
Trane Technologies Luxembourg Finance SA
	40,000		3.500		03/21/26	38,372
Westinghouse Air Brake Technologies Corp.
	16,000		4.400		03/15/24	15,776
	16,000		3.200		06/15/25	15,217
						560,745
Communications – 1.4%
Charter Communications Operating LLC / Charter Communications Operating Capital
	17,000		4.908		07/23/25	16,717
Moody’s Corp.
	50,000		3.750		03/24/25	48,525
Netflix, Inc.
	6,000		5.750		03/01/24	6,033
	16,000		5.875		02/15/25	16,200
	16,000		4.375		11/15/26	15,780
TWDC Enterprises 18 Corp., MTN
	8,000		1.850		07/30/26	7,382
Walt Disney Co. (The)
	24,000		3.350		03/24/25	23,427
						134,064
Consumer Cyclical – 10.4%
Amazon.com, Inc.
	80,000		3.800		12/05/24	78,698
	20,000		0.800		06/03/25	18,553
	33,000		1.000		05/12/26	29,923
	15,000		4.550		12/01/27	15,124
American Honda Finance Corp., GMTN
	20,000		3.500		02/15/28	19,153
American Honda Finance Corp., MTN
	13,000		1.200		07/08/25	12,040
	13,000		1.300		09/09/26	11,652
AutoNation, Inc.
	18,000		3.500		11/15/24	17,417
Booking Holdings, Inc.
	43,000		3.600		06/01/26	41,596
DR Horton, Inc.
	13,000		2.500		10/15/24	12,493

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
DR Horton, Inc. – (continued)
$	10,000		1.300	%	10/15/26	$       8,861
General Motors Co.
	34,000		6.800		10/01/27	35,760
General Motors Financial Co., Inc.
	70,000		4.000		01/15/25	68,260
	21,000		1.250		01/08/26	18,849
	20,000		2.700		08/20/27	17,834
Home Depot, Inc. (The)
	40,000		4.000		09/15/25	39,535
	21,000		2.800		09/14/27	19,703
Las Vegas Sands Corp.
	16,000		3.200		08/08/24	15,435
	10,000		3.500		08/18/26	9,276
Lennar Corp.
	32,000		4.750		05/30/25	31,571
	20,000		4.750		11/29/27	19,638
Marriott International, Inc., Series EE
	8,000		5.750		05/01/25	8,096
McDonald’s Corp., MTN
	70,000		3.300		07/01/25	67,830
NIKE, Inc.
	50,000		2.750		03/27/27	47,290
Ross Stores, Inc.
	13,000		4.600		04/15/25	12,859
Starbucks Corp.
	16,000		2.000		03/12/27	14,550
	20,000		3.500		03/01/28	19,018
Toll Brothers Finance Corp.
	16,000		4.875		11/15/25	15,720
Toyota Motor Credit Corp., MTN
	16,000		0.800		01/09/26	14,492
	40,000		3.050		03/22/27	37,864
Visa, Inc.
	16,000		1.900		04/15/27	14,758
	50,000		2.750		09/15/27	47,165
Walmart, Inc.
	60,000		2.850		07/08/24	58,665
	24,000		1.050		09/17/26	21,661
Western Union Co. (The)
	40,000		1.350		03/15/26	35,499
						956,838
Consumer Noncyclical – 4.4%
AbbVie, Inc.
	25,000		2.600		11/21/24	24,097
	31,000		3.600		05/14/25	30,181
Amgen, Inc.
	15,000		5.150		03/02/28	15,150

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Becton Dickinson & Co.
$	18,000		3.734	%	12/15/24	$     17,619
Equifax, Inc.
	19,000		2.600		12/01/24	18,175
Gilead Sciences, Inc.
	60,000		3.500		02/01/25	58,484
	20,000		1.200		10/01/27	17,400
Merck & Co., Inc.
	16,000		0.750		02/24/26	14,546
Philip Morris International, Inc.
	22,000		2.875		05/01/24	21,482
	50,000		4.875		02/13/26	49,913
Royalty Pharma PLC
	50,000		1.200		09/02/25	45,089
Shire Acquisitions Investments Ireland DAC
	50,000		3.200		09/23/26	47,233
Utah Acquisition Sub, Inc.
	13,000		3.950		06/15/26	12,377
Walgreens Boots Alliance, Inc.
	37,000		3.800		11/18/24	36,151
						407,897
Consumer Products – 0.6%
Procter & Gamble Co. (The)
	50,000		4.100		01/26/26	49,798
	8,000		1.900		02/01/27	7,400
						57,198
Electric – 7.1%
AEP Transmission Co. LLC
	17,000		3.100		12/01/26	15,991
AES Corp. (The)
	17,000		1.375		01/15/26	15,212
Black Hills Corp.
	20,000		5.950		03/15/28	20,528
CenterPoint Energy, Inc.
	17,000		1.450		06/01/26	15,281
CMS Energy Corp.
	17,000		3.000		05/15/26	16,066
Dominion Energy, Inc.(b)
	50,000		3.071		08/15/24	48,412
Dominion Energy, Inc., Series A
	17,000		1.450		04/15/26	15,344
DTE Energy Co., Series F
	24,000		1.050		06/01/25	22,065
Duke Energy Corp.
	20,000		0.900		09/15/25	18,229
	16,000		2.650		09/01/26	14,844
	40,000		4.300		03/15/28	38,745

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Eastern Energy Gas Holdings LLC
$	40,000		3.600	%	12/15/24	$     38,708
Edison International
	40,000		4.125		03/15/28	37,558
Entergy Louisiana LLC
	50,000		5.590		10/01/24	50,127
Exelon Corp.
	11,000		3.400		04/15/26	10,491
NextEra Energy Capital Holdings, Inc.
	13,000		1.875		01/15/27	11,670
	27,000		3.550		05/01/27	25,582
	30,000		4.900		02/28/28	29,866
(US 5 Year CMT T-Note + 2.547%)
	20,000		3.800	(a)	03/15/82	16,589
Pacific Gas and Electric Co.
	7,000		3.450		07/01/25	6,660
	28,000		3.300		03/15/27	25,663
	20,000		5.450		06/15/27	19,594
Public Service Electric and Gas Co., MTN
	50,000		3.050		11/15/24	48,511
Sempra Energy
	34,000		3.250		06/15/27	31,728
Southern California Edison Co.
	15,000		5.850		11/01/27	15,512
Southern Co. (The)
	16,000		3.250		07/01/26	15,176
Southern Co. Gas Capital Corp.
	16,000		3.875		11/15/25	15,411
Southwestern Electric Power Co., Series N
	13,000		1.650		03/15/26	11,817
						651,380
Energy – 8.1%
Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc.
	15,000		3.337		12/15/27	14,003
Boardwalk Pipelines LP
	40,000		4.450		07/15/27	38,547
BP Capital Markets America, Inc.
	20,000		3.796		09/21/25	19,580
	40,000		3.017		01/16/27	37,981
Chevron Corp.
	25,000		3.326		11/17/25	24,461
	50,000		1.995		05/11/27	45,767
DCP Midstream Operating LP
	40,000		5.375		07/15/25	39,700
Energy Transfer LP
	40,000		4.750		01/15/26	39,439
	40,000		5.550		02/15/28	40,153

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
Enterprise Products Operating LLC
$	16,000		3.750	%	02/15/25	$     15,695
Exxon Mobil Corp.
	24,000		3.043		03/01/26	23,159
	13,000		2.275		08/16/26	12,200
Hercules Capital, Inc.
	20,000		3.375		01/20/27	16,984
Kinder Morgan, Inc.
	16,000		4.300		06/01/25	15,716
Magellan Midstream Partners LP
	24,000		5.000		03/01/26	23,876
Marathon Petroleum Corp.
	11,000		4.700		05/01/25	10,869
MPLX LP
	24,000		4.875		12/01/24	23,756
	12,000		1.750		03/01/26	10,947
National Fuel Gas Co.
	16,000		5.500		01/15/26	15,894
Occidental Petroleum Corp.
	50,000		5.875		09/01/25	50,052
ONEOK Partners LP
	50,000		4.900		03/15/25	49,277
Plains All American Pipeline LP / PAA Finance Corp.
	16,000		4.650		10/15/25	15,712
Sabine Pass Liquefaction LLC
	10,000		5.625		03/01/25	9,997
	31,000		5.000		03/15/27	30,718
Spectra Energy Partners LP
	17,000		4.750		03/15/24	16,837
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
	40,000		6.500		07/15/27	40,275
Western Midstream Operating LP
	16,000		3.350		02/01/25	15,300
	16,000		3.950		06/01/25	15,400
Williams Cos., Inc. (The)
	34,000		4.000		09/15/25	33,016
						745,311
Financial Company – 2.4%
Air Lease Corp.
	37,000		3.625		04/01/27	34,366
Ally Financial, Inc.
	50,000		5.125		09/30/24	48,762
	15,000		7.100		11/15/27	15,289
Ares Capital Corp.
	17,000		2.875		06/15/27	14,842
Bain Capital Specialty Finance, Inc.
	20,000		2.550		10/13/26	17,071

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Financial Company – (continued)
BGC Partners, Inc.
$	40,000		4.375	%	12/15/25	$     37,200
FS KKR Capital Corp.
	13,000		4.625		07/15/24	12,580
	16,000		3.250		07/15/27	13,752
GATX Corp.
	16,000		3.250		09/15/26	14,945
Sixth Street Specialty Lending, Inc.
	16,000		3.875		11/01/24	15,385
						224,192
Food and Beverage – 2.1%
Coca-Cola Co. (The)
	50,000		1.500		03/05/28	44,416
General Mills, Inc.
	20,000		4.000		04/17/25	19,632
	30,000		5.241		11/18/25	30,045
Kellogg Co.
	50,000		3.250		04/01/26	47,722
McCormick & Co., Inc.
	16,000		0.900		02/15/26	14,345
PepsiCo, Inc.
	26,000		2.250		03/19/25	24,926
	11,000		2.850		02/24/26	10,583
						191,669
Hardware – 0.7%
CDW LLC / CDW Finance Corp.
	50,000		4.125		05/01/25	48,188
Micron Technology, Inc.
	16,000		4.185		02/15/27	15,420
						63,608
Healthcare – 1.5%
CVS Health Corp.
	13,000		3.000		08/15/26	12,258
Evernorth Health, Inc.
	33,000		3.500		06/15/24	32,275
HCA, Inc.
	24,000		5.000		03/15/24	23,835
	10,000		5.375		02/01/25	9,950
	16,000		4.500		02/15/27	15,570
Quest Diagnostics, Inc.
	16,000		3.450		06/01/26	15,362
UnitedHealth Group, Inc.
	16,000		3.375		04/15/27	15,393
	15,000		5.250		02/15/28	15,441
						140,084
Insurance – 0.4%
CNA Financial Corp.
	13,000		3.950		05/15/24	12,746

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Insurance – (continued)
Lincoln National Corp.
$	30,000		3.800	%	03/01/28	$     27,359
						40,105
Pharmaceuticals – 0.1%
Viatris, Inc.
	16,000		2.300		06/22/27	14,004
REITs and Real Estate – 3.5%
Boston Properties LP
	20,000		3.200		01/15/25	18,955
Brandywine Operating Partnership LP
	20,000		3.950		11/15/27	14,667
Brixmor Operating Partnership LP
	20,000		3.900		03/15/27	18,557
Equinix, Inc.
	23,000		1.800		07/15/27	19,932
ERP Operating LP
	16,000		3.375		06/01/25	15,446
GLP Capital LP / GLP Financing II, Inc.
	40,000		3.350		09/01/24	38,611
	9,000		5.375		04/15/26	8,723
Healthpeak OP LLC
	16,000		3.250		07/15/26	15,002
Highwoods Realty LP
	20,000		4.125		03/15/28	17,227
Public Storage
	13,000		1.500		11/09/26	11,671
Simon Property Group LP
	16,000		3.500		09/01/25	15,433
	16,000		3.300		01/15/26	15,293
Spirit Realty LP
	7,000		3.200		01/15/27	6,356
Tanger Properties LP
	30,000		3.875		07/15/27	27,070
VICI Properties LP
	50,000		4.375		05/15/25	48,232
Vornado Realty LP
	20,000		2.150		06/01/26	16,325
Welltower OP LLC
	16,000		4.000		06/01/25	15,513
						323,013
Software – 0.2%
Oracle Corp.
	20,000		2.300		03/25/28	17,730
Technology – 8.1%
Activision Blizzard, Inc.
	40,000		3.400		09/15/26	38,529
Alphabet, Inc.
	16,000		1.998		08/15/26	14,976

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – (continued)
Apple, Inc.
$	20,000		1.800	%	09/11/24	$   19,252
	25,000		2.450		08/04/26	23,643
	17,000		2.050		09/11/26	15,873
	32,000		3.350		02/09/27	31,193
Arrow Electronics, Inc.
	50,000		4.000		04/01/25	48,275
Autodesk, Inc.
	40,000		3.500		06/15/27	38,404
Broadcom Corp. / Broadcom Cayman Finance Ltd.
	17,000		3.875		01/15/27	16,361
Fiserv, Inc.
	12,000		3.850		06/01/25	11,675
	24,000		3.200		07/01/26	22,727
Genpact Luxembourg Sarl
	16,000		3.375		12/01/24	15,500
Hewlett Packard Enterprise Co.
	15,000		4.900		10/15/25	14,944
International Business Machines Corp.
	90,000		6.220		08/01/27	94,809
Intuit, Inc.
	16,000		1.350		07/15/27	13,991
Jabil, Inc.
	40,000		4.250		05/15/27	38,377
Keysight Technologies, Inc.
	40,000		4.600		04/06/27	39,761
Microchip Technology, Inc.
	16,000		4.250		09/01/25	15,622
Microsoft Corp.
	31,000		3.300		02/06/27	30,336
Motorola Solutions, Inc.
	13,000		7.500		05/15/25	13,370
NetApp, Inc.
	13,000		3.300		09/29/24	12,633
	40,000		2.375		06/22/27	36,685
QUALCOMM, Inc.
	7,000		3.450		05/20/25	6,819
TD SYNNEX Corp.
	50,000		1.250		08/09/24	46,962
Tyco Electronics Group SA
	50,000		3.450		08/01/24	48,995
VeriSign, Inc.
	40,000		5.250		04/01/25	39,650
						749,362
Transportation – 2.5%
CSX Corp.
	17,000		3.250		06/01/27	16,116

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Transportation – (continued)
Delta Air Lines, Inc.
$	20,000		2.900	%	10/28/24	$     19,338
Norfolk Southern Corp.
	40,000		5.590		05/17/25	40,331
Ryder System, Inc., MTN
	5,000		1.750		09/01/26	4,474
	8,000		2.900		12/01/26	7,387
	20,000		5.650		03/01/28	20,229
Southwest Airlines Co.
	16,000		5.250		05/04/25	15,911
	40,000		5.125		06/15/27	39,865
Union Pacific Corp.
	17,000		3.250		08/15/25	16,536
United Airlines Pass Through Trust, Series A
	20,820		4.150		04/11/24	20,253
United Airlines Pass Through Trust, Class A, Series 20-1
	15,092		5.875		10/15/27	14,979
United Airlines Pass Through Trust, Series A
	16,189		4.300		08/15/25	15,437
						230,856
Wireless – 2.5%
American Tower Corp.
	13,000		3.375		10/15/26	12,258
AT&T, Inc.
	21,000		1.700		03/25/26	19,178
	10,000		1.650		02/01/28	8,661
Crown Castle, Inc.
	33,000		3.200		09/01/24	32,068
Sprint LLC
	56,000		7.625		03/01/26	58,625
T-Mobile USA, Inc.
	16,000		3.750		04/15/27	15,183
	70,000		2.050		02/15/28	60,998
Verizon Communications, Inc.
	25,000		2.100		03/22/28	22,105
						229,076
TOTAL CORPORATE OBLIGATIONS (Cost $8,126,864)						$7,881,142
Foreign Corporate Debt – 13.2%
Banks – 7.0%
Bank of Montreal, MTN (Canada)
$	50,000		1.250	%	09/15/26	$     44,144
	30,000		2.650		03/08/27	27,507
Bank of Montreal(a) (Canada)
(5 Year USD Swap + 1.432%)
	40,000		3.803		12/15/32	35,644
Bank of Nova Scotia (The) (Canada)
	17,000		1.050		03/02/26	15,215

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Bank of Nova Scotia (The) (Canada) – (continued)
$	17,000		2.700	%	08/03/26	$     15,797
	21,000		1.300		09/15/26	18,566
Canadian Imperial Bank of Commerce (Canada)
	77,000		1.250		06/22/26	68,560
Deutsche Bank AG (Germany)
	50,000		4.100		01/13/26	47,326
Mitsubishi UFJ Financial Group, Inc. (Japan)
	20,000		3.287		07/25/27	18,659
Royal Bank of Canada (Canada)
	21,000		3.625		05/04/27	20,012
Royal Bank of Canada, GMTN (Canada)
	20,000		4.240		08/03/27	19,438
Royal Bank of Canada, MTN (Canada)
	23,000		1.150		06/10/25	21,210
Sumitomo Mitsui Financial Group, Inc. (Japan)
	20,000		3.446		01/11/27	18,904
	51,000		3.364		07/12/27	48,000
	30,000		3.352		10/18/27	27,917
	50,000		3.544		01/17/28	46,733
Toronto-Dominion Bank (The), MTN (Canada)
	34,000		0.750		01/06/26	30,430
	16,000		1.250		09/10/26	14,124
Toronto-Dominion Bank (The) (Canada)
	15,000		5.156		01/10/28	15,027
Westpac Banking Corp. (Australia)
	23,000		1.150		06/03/26	20,678
	70,000		5.457		11/18/27	71,790
						645,681
Brokerage – 0.1%
Brookfield Finance, Inc. (Canada)
	9,000		4.000		04/01/24	8,835
Consumer Cyclical – 0.3%
Toyota Motor Corp. (Japan)
	28,000		1.339		03/25/26	25,592
Consumer Noncyclical – 1.6%
AstraZeneca PLC (United Kingdom)
	50,000		3.375		11/16/25	48,489
BAT Capital Corp. (United Kingdom)
	20,000		2.789		09/06/24	19,290
BAT International Finance PLC (United Kingdom)
	67,000		1.668		03/25/26	60,258
Bayer US Finance II LLC(c) (Germany)
	18,000		3.375		07/15/24	17,574
						145,611

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Energy – 2.6%
BP Capital Markets PLC (United Kingdom)
$	21,000		3.279	%	09/19/27	$     20,025
Canadian Natural Resources Ltd. (Canada)
	50,000		2.050		07/15/25	46,957
Enbridge, Inc. (Canada)
	7,000		3.500		06/10/24	6,856
(3M USD LIBOR + 3.641%)
	50,000		6.250	(a)	03/01/78	45,875
Equinor ASA (Norway)
	60,000		1.750		01/22/26	55,806
Shell International Finance BV (Netherlands)
	50,000		2.000		11/07/24	48,099
	16,000		3.250		05/11/25	15,591
						239,209
Oil Company-Integrated – 0.3%
Ecopetrol SA (Colombia)
	31,000		4.125		01/16/25	29,799
Technology – 0.5%
NXP BV / NXP Funding LLC (China)
	10,000		4.875		03/01/24	9,929
NXP BV / NXP Funding LLC / NXP USA, Inc. (China)
	40,000		4.400		06/01/27	38,992
						48,921
Transportation – 0.4%
Canadian Pacific Railway Co. (Canada)
	40,000		3.700		02/01/26	38,677
Wireless – 0.4%
Rogers Communications, Inc.(c) (Canada)
	34,000		3.200		03/15/27	31,656
TOTAL FOREIGN CORPORATE DEBT (Cost $1,243,052)						$1,213,981
TOTAL INVESTMENTS – 98.5% (Cost $9,369,916)						$9,095,123
OTHER ASSETS IN EXCESS OF     LIABILITIES – 1.5%						141,184
NET ASSETS – 100.0%						$9,236,307

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Variable rate security. Interest rate or distribution rate disclosed is that which is in effect on May 31, 2023.
(b)	Step coupon.
(c)	Exempt from registration under Rule 144A of the Securities Act of 1933.

Investment Abbreviations:
CMT	— Constant Maturity Treasury Index
GMTN	— Global Medium Term Note
LIBOR	— London Interbank Offered Rate
LP	— Limited Partnership
MTN	— Medium Term Note
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust
SOFR	— Secured Overnight Financing Rate
SOFRINDX	— Secured Overnight Financing Rate Index

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – 79.5%
Aerospace & Defense – 2.4%
Boeing Co. (The)
$	300,000		2.196	%	02/04/26	$       276,587
	290,000		2.700		02/01/27	266,982
	400,000		3.250		02/01/28	369,570
	400,000		3.200		03/01/29	360,849
	290,000		2.950		02/01/30	253,600
	1,500,000		5.150		05/01/30	1,490,814
	500,000		3.600		05/01/34	425,237
	300,000		3.250		02/01/35	241,945
	300,000		5.705		05/01/40	295,860
	275,000		3.900		05/01/49	206,587
	300,000		3.750		02/01/50	220,453
	400,000		5.805		05/01/50	392,633
	500,000		5.930		05/01/60	489,660
General Dynamics Corp.
	50,000		3.250		04/01/25	48,648
	600,000		3.500		04/01/27	577,801
	250,000		4.250		04/01/40	228,980
	384,000		4.250		04/01/50	346,618
Lockheed Martin Corp.
	250,000		5.100		11/15/27	256,667
	533,000		4.070		12/15/42	471,271
	260,000		3.800		03/01/45	217,084
	100,000		4.700		05/15/46	95,191
	168,000		4.090		09/15/52	144,635
	100,000		4.150		06/15/53	86,860
	428,000		5.900		11/15/63	479,912
Northrop Grumman Corp.
	476,000		2.930		01/15/25	458,439
	290,000		3.200		02/01/27	276,475
	738,000		3.250		01/15/28	695,828
	400,000		4.400		05/01/30	391,955
	1,016,000		4.030		10/15/47	849,316
	267,000		5.250		05/01/50	266,317
Raytheon Technologies Corp.
	187,000		3.200		03/15/24	183,715
	1,080,000		3.950		08/16/25	1,058,098
	100,000		3.125		05/04/27	94,470
	300,000		4.125		11/16/28	290,615
	620,000		1.900		09/01/31	498,232
	243,000		4.450		11/16/38	225,275
	500,000		4.500		06/01/42	458,306
	870,000		4.150		05/15/45	737,234
	208,000		3.750		11/01/46	164,412
	304,000		4.350		04/15/47	265,701
	292,000		4.625		11/16/48	266,161

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Aerospace & Defense – (continued)
Raytheon Technologies Corp. – (continued)
$	406,000		3.125	%	07/01/50	$       287,107
	260,000		2.820		09/01/51	172,075
						15,884,175
Agriculture – 0.1%
Archer-Daniels-Midland Co.
	462,000		3.250		03/27/30	427,532
	500,000		2.900		03/01/32	436,529
						864,061
Banks – 19.4%
American Express Co.
	170,000		2.500		07/30/24	164,588
	2,912,000		3.000		10/30/24	2,817,229
	649,000		4.200		11/06/25	635,495
	470,000		3.125		05/20/26	448,343
	250,000		1.650		11/04/26	223,935
(SOFR + 2.255%)
	192,000		4.989	(a)	05/26/33	186,670
Bank of America Corp.
(SOFR + 0.690%)
	220,000		0.976	(a)	04/22/25	211,004
(3M U.S. T-Bill MMY + 1.072%)
	584,000		3.366	(a)	01/23/26	561,777
(SOFR + 0.960%)
	696,000		1.734	(a)	07/22/27	618,298
(3M U.S. T-Bill MMY + 1.512%)
	485,000		3.705	(a)	04/24/28	457,236
(SOFR + 1.990%)
	800,000		6.204	(a)	11/10/28	825,817
(3M U.S. T-Bill MMY + 1.040%)
	1,148,000		3.419	(a)	12/20/28	1,056,470
(SOFR + 2.150%)
	519,000		2.592	(a)	04/29/31	436,492
(SOFR + 1.320%)
	1,130,000		2.687	(a)	04/22/32	937,288
(SOFR + 1.220%)
	1,140,000		2.299	(a)	07/21/32	908,229
(SOFR + 1.210%)
	700,000		2.572	(a)	10/20/32	569,280
(SOFR + 1.910%)
	630,000		5.288	(a)	04/25/34	628,157
(US 5 Year CMT T-Note + 1.200%)
	278,000		2.482	(a)	09/21/36	213,063
	860,000		6.110		01/29/37	900,039
(3M U.S. T-Bill MMY + 2.076%)
	418,000		4.244	(a)	04/24/38	369,382

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp. – (continued)
$	370,000		7.750	%	05/14/38	$       439,503
(SOFR + 1.580%)
	519,000		3.311	(a)	04/22/42	388,295
(3M U.S. T-Bill MMY + 1.452%)
	500,000		3.946	(a)	01/23/49	396,888
(SOFR + 1.560%)
	457,000		2.972	(a)	07/21/52	303,463
Bank of America Corp., GMTN
	220,000		3.500		04/19/26	212,274
(3M U.S. T-Bill MMY + 1.632%)
	588,000		3.593	(a)	07/21/28	548,754
Bank of America Corp., Series L
	110,000		3.950		04/21/25	107,249
	580,000		4.183		11/25/27	556,251
Bank of America Corp., MTN
	260,000		4.000		04/01/24	256,909
	596,000		4.200		08/26/24	587,255
	340,000		4.000		01/22/25	332,450
(3M U.S. T-Bill MMY + 1.232%)
	292,000		3.458	(a)	03/15/25	286,532
	215,000		3.875		08/01/25	210,101
(3M U.S. T-Bill MMY + 1.090%)
	820,000		3.093	(a)	10/01/25	791,174
(3M U.S. T-Bill MMY + 1.132%)
	1,000,000		2.456	(a)	10/22/25	955,451
(3M U.S. T-Bill MMY + 0.902%)
	700,000		2.015	(a)	02/13/26	656,557
	180,000		4.450		03/03/26	176,459
(SOFR + 1.150%)
	1,718,000		1.319	(a)	06/19/26	1,576,999
	629,000		4.250		10/22/26	608,802
(3M U.S. T-Bill MMY + 1.322%)
	760,000		3.559	(a)	04/23/27	722,495
	670,000		3.248		10/21/27	628,114
(3M U.S. T-Bill MMY + 1.837%)
	628,000		3.824	(a)	01/20/28	594,168
(3M U.S. T-Bill MMY + 1.332%)
	150,000		3.970	(a)	03/05/29	141,068
(3M U.S. T-Bill MMY + 1.572%)
	710,000		4.271	(a)	07/23/29	674,727
(3M U.S. T-Bill MMY + 1.472%)
	504,000		3.974	(a)	02/07/30	467,770
(3M U.S. T-Bill MMY + 1.442%)
	200,000		3.194	(a)	07/23/30	176,004
(3M U.S. T-Bill MMY + 1.452%)
	281,000		2.884	(a)	10/22/30	242,067

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp., MTN – (continued)
(3M U.S. T-Bill MMY + 1.252%)
$	1,345,000		2.496	%(a)	02/13/31	$    1,128,510
(SOFR + 1.530%)
	830,000		1.898	(a)	07/23/31	662,066
(SOFR + 1.370%)
	500,000		1.922	(a)	10/24/31	395,458
(3M U.S. T-Bill MMY + 1.582%)
	208,000		4.078	(a)	04/23/40	175,708
(SOFR + 1.930%)
	704,000		2.676	(a)	06/19/41	483,405
	248,000		5.875		02/07/42	260,116
	334,000		5.000		01/21/44	316,686
(3M U.S. T-Bill MMY + 2.252%)
	354,000		4.443	(a)	01/20/48	308,558
(3M U.S. T-Bill MMY + 1.782%)
	477,000		4.330	(a)	03/15/50	402,447
(3M U.S. T-Bill MMY + 3.412%)
	826,000		4.083	(a)	03/20/51	663,589
Bank of America Corp.(a), Series N
(SOFR + 1.220%)
	500,000		2.651		03/11/32	415,057
Bank of New York Mellon Corp. (The), MTN
	100,000		2.100		10/24/24	95,757
	50,000		2.800		05/04/26	47,376
	290,000		3.250		05/16/27	274,155
	636,000		3.400		01/29/28	598,678
(3M U.S. T-Bill MMY + 1.331%)
	887,000		3.442	(a)	02/07/28	842,184
	400,000		3.850		04/28/28	383,759
	144,000		3.300		08/23/29	129,719
Capital One Financial Corp.
	50,000		4.200		10/29/25	47,507
(SOFR + 1.290%)
	550,000		2.636	(a)	03/03/26	512,208
(SOFR + 2.160%)
	150,000		4.985	(a)	07/24/26	146,083
	250,000		3.750		03/09/27	234,824
	490,000		3.800		01/31/28	454,658
(SOFR + 1.337%)
	500,000		2.359	(a)	07/29/32	356,474
Charles Schwab Corp. (The)
	244,000		0.750		03/18/24	234,275
	450,000		2.000		03/20/28	386,185
	700,000		2.300		05/13/31	559,934
	300,000		1.950		12/01/31	227,779

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Citigroup, Inc.
$	250,000		4.000	%	08/05/24	$     246,386
	500,000		3.875		03/26/25	485,739
(3M U.S. T-Bill MMY + 1.158%)
	340,000		3.352	(a)	04/24/25	332,453
(SOFR + 0.669%)
	100,000		0.981	(a)	05/01/25	95,545
	100,000		3.700		01/12/26	96,721
(SOFR + 0.694%)
	1,018,000		2.014	(a)	01/25/26	958,897
(SOFR + 2.842%)
	640,000		3.106	(a)	04/08/26	614,336
(SOFR + 0.765%)
	1,857,000		1.122	(a)	01/28/27	1,660,994
(SOFR + 0.770%)
	275,000		1.462	(a)	06/09/27	245,194
	700,000		4.450		09/29/27	670,670
(3M U.S. T-Bill MMY + 1.825%)
	100,000		3.887	(a)	01/10/28	95,099
(SOFR + 1.280%)
	1,530,000		3.070	(a)	02/24/28	1,419,464
(SOFR + 1.887%)
	300,000		4.658	(a)	05/24/28	294,714
(3M U.S. T-Bill MMY + 1.652%)
	700,000		3.668	(a)	07/24/28	657,943
	600,000		4.125		07/25/28	563,654
(3M U.S. T-Bill MMY + 1.413%)
	1,150,000		3.520	(a)	10/27/28	1,071,618
(3M U.S. T-Bill MMY + 1.600%)
	200,000		3.980	(a)	03/20/30	185,683
(SOFR + 1.422%)
	800,000		2.976	(a)	11/05/30	694,146
(SOFR + 2.107%)
	1,000,000		2.572	(a)	06/03/31	836,443
(SOFR + 1.167%)
	800,000		2.561	(a)	05/01/32	659,600
	544,000		6.625		06/15/32	574,439
(SOFR + 1.939%)
	600,000		3.785	(a)	03/17/33	534,065
(SOFR + 2.086%)
	500,000		4.910	(a)	05/24/33	484,843
(SOFR + 2.338%)
	1,000,000		6.270	(a)	11/17/33	1,070,930
(3M U.S. T-Bill MMY + 1.430%)
	300,000		3.878	(a)	01/24/39	251,706
	540,000		5.300		05/06/44	495,264
	500,000		4.750		05/18/46	423,169

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Citizens Bank NA(a)
(SOFR + 2.000%)
$	300,000		4.575	%	08/09/28	$     273,736
Discover Financial Services
	100,000		6.700		11/29/32	103,783
Fifth Third Bancorp
	506,000		2.550		05/05/27	442,286
(SOFRINDX + 2.192%)
	100,000		6.361	(a)	10/27/28	100,552
	190,000		8.250		03/01/38	213,150
Fifth Third Bank NA
	560,000		3.850		03/15/26	508,124
Huntington Bancshares, Inc.
	870,000		2.625		08/06/24	816,451
	328,000		2.550		02/04/30	258,098
JPMorgan Chase & Co.
	150,000		3.625		05/13/24	147,465
	325,000		3.875		09/10/24	318,183
	240,000		3.125		01/23/25	232,546
(3M U.S. T-Bill MMY + 1.417%)
	204,000		3.220	(a)	03/01/25	200,230
(3M U.S. T-Bill MMY + 0.580%)
	250,000		0.969	(a)	06/23/25	237,835
	378,000		3.900		07/15/25	371,503
(SOFR + 1.160%)
	630,000		2.301	(a)	10/15/25	602,738
(SOFR + 0.915%)
	250,000		2.595	(a)	02/24/26	238,302
(3M U.S. T-Bill MMY + 1.585%)
	170,000		2.005	(a)	03/13/26	160,115
	730,000		3.300		04/01/26	702,378
(SOFR + 1.850%)
	840,000		2.083	(a)	04/22/26	790,466
	690,000		3.200		06/15/26	658,190
	290,000		4.125		12/15/26	283,893
(3M U.S. T-Bill MMY + 1.507%)
	300,000		3.960	(a)	01/29/27	288,888
(SOFR + 0.885%)
	600,000		1.578	(a)	04/22/27	537,433
	293,000		4.250		10/01/27	286,263
	184,000		3.625		12/01/27	173,714
(3M U.S. T-Bill MMY + 1.599%)
	213,000		3.782	(a)	02/01/28	202,772
(3M U.S. T-Bill MMY + 1.642%)
	1,064,000		3.540	(a)	05/01/28	1,005,514
(SOFR + 1.890%)
	1,002,000		2.182	(a)	06/01/28	893,458

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
JPMorgan Chase & Co. – (continued)
(3M U.S. T-Bill MMY + 0.945%)
$	2,142,000		3.509	%(a)	01/23/29	$    1,995,698
(3M U.S. T-Bill MMY + 1.382%)
	518,000		4.005	(a)	04/23/29	490,770
(3M U.S. T-Bill MMY + 1.592%)
	450,000		4.452	(a)	12/05/29	435,171
(3M U.S. T-Bill MMY + 1.422%)
	114,000		3.702	(a)	05/06/30	105,364
(3M U.S. T-Bill MMY + 1.510%)
	692,000		2.739	(a)	10/15/30	599,549
(3M U.S. T-Bill MMY + 3.790%)
	400,000		4.493	(a)	03/24/31	385,476
(SOFR + 2.040%)
	1,130,000		2.522	(a)	04/22/31	959,037
(3M U.S. T-Bill MMY + 2.515%)
	422,000		2.956	(a)	05/13/31	361,657
(3M U.S. T-Bill MMY + 1.105%)
	80,000		1.764	(a)	11/19/31	63,046
(SOFR + 1.065%)
	1,052,000		1.953	(a)	02/04/32	835,500
(3M U.S. T-Bill MMY + 1.250%)
	1,104,000		2.580	(a)	04/22/32	918,690
(SOFR + 1.180%)
	1,067,000		2.545	(a)	11/08/32	873,938
(SOFR + 1.260%)
	600,000		2.963	(a)	01/25/33	509,884
	513,000		6.400		05/15/38	572,056
(3M U.S. T-Bill MMY + 1.622%)
	485,000		3.882	(a)	07/24/38	417,964
	147,000		5.500		10/15/40	148,385
(3M U.S. T-Bill MMY + 2.460%)
	80,000		3.109	(a)	04/22/41	60,043
	126,000		5.600		07/15/41	130,852
	328,000		5.400		01/06/42	328,489
(SOFR + 1.460%)
	100,000		3.157	(a)	04/22/42	74,510
	10,000		5.625		08/16/43	10,069
	423,000		4.850		02/01/44	399,780
	614,000		4.950		06/01/45	569,986
(3M U.S. T-Bill MMY + 1.842%)
	471,000		4.260	(a)	02/22/48	403,181
(3M U.S. T-Bill MMY + 1.722%)
	268,000		4.032	(a)	07/24/48	218,847
(3M U.S. T-Bill MMY + 1.642%)
	622,000		3.964	(a)	11/15/48	501,975

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
JPMorgan Chase & Co. – (continued)
(3M U.S. T-Bill MMY + 1.482%)
$	140,000		3.897	%(a)	01/23/49	$       111,586
(SOFR + 2.440%)
	368,000		3.109	(a)	04/22/51	255,928
(SOFR + 1.580%)
	570,000		3.328	(a)	04/22/52	410,691
KeyBank NA
	300,000		4.900		08/08/32	240,363
KeyCorp, MTN
	467,000		2.250		04/06/27	386,262
	516,000		4.100		04/30/28	451,621
	274,000		2.550		10/01/29	208,579
M&T Bank Corp.(a)
(SOFR + 1.850%)
	260,000		5.053		01/27/34	240,378
Manufacturers & Traders Trust Co.
	340,000		2.900		02/06/25	317,614
Morgan Stanley
(SOFR + 0.525%)
	150,000		0.790	(a)	05/30/25	142,374
	565,000		5.000		11/24/25	564,143
(SOFR + 0.720%)
	500,000		0.985	(a)	12/10/26	447,002
	328,000		3.625		01/20/27	314,686
	862,000		3.950		04/23/27	819,873
(SOFR + 1.000%)
	1,500,000		2.475	(a)	01/21/28	1,360,717
	85,000		3.591	(a)	07/22/28	79,092
(SOFR + 2.240%)
	300,000		6.296	(a)	10/18/28	311,633
	120,000		7.250		04/01/32	138,785
(US 5 Year CMT T-Note + 2.430%)
	200,000		5.948	(a)	01/19/38	198,219
(3M USD LIBOR + 1.455%)
	68,000		3.971	(a)	07/22/38	58,095
(SOFR + 1.485%)
	290,000		3.217	(a)	04/22/42	218,023
	758,000		6.375		07/24/42	833,063
	528,000		4.300		01/27/45	456,616
	690,000		4.375		01/22/47	603,532
Morgan Stanley, Series F
	605,000		3.875		04/29/24	596,768
Morgan Stanley, GMTN
	125,000		3.700		10/23/24	122,017
	427,000		4.000		07/23/25	418,156
	538,000		3.875		01/27/26	524,137

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Morgan Stanley, GMTN – (continued)
$	752,000		4.350	%	09/08/26	$       729,271
(3M U.S. T-Bill MMY + 1.628%)
	960,000		4.431	(a)	01/23/30	922,343
(SOFR + 1.143%)
	1,293,000		2.699	(a)	01/22/31	1,107,667
(SOFR + 1.178%)
	350,000		2.239	(a)	07/21/32	280,145
(SOFR + 4.840%)
	629,000		5.597	(a)	03/24/51	649,739
Morgan Stanley(a), Series I
(SOFR + 0.745%)
	770,000		0.864		10/21/25	714,520
Morgan Stanley, MTN
(SOFR + 1.152%)
	850,000		2.720	(a)	07/22/25	820,669
(SOFR + 0.560%)
	576,000		1.164	(a)	10/21/25	537,963
(SOFR + 0.940%)
	200,000		2.630	(a)	02/18/26	190,133
	836,000		3.125		07/27/26	789,365
(SOFR + 3.120%)
	380,000		3.622	(a)	04/01/31	344,044
(SOFR + 1.034%)
	841,000		1.794	(a)	02/13/32	656,189
(SOFR + 1.020%)
	425,000		1.928	(a)	04/28/32	332,584
(SOFR + 1.200%)
	1,000,000		2.511	(a)	10/20/32	810,899
(SOFR + 1.430%)
	500,000		2.802	(a)	01/25/52	322,092
Northern Trust Corp.
	300,000		6.125		11/02/32	315,398
PNC Bank NA
	1,150,000		3.100		10/25/27	1,053,576
	260,000		2.700		10/22/29	223,601
PNC Financial Services Group, Inc. (The)
	408,000		3.900		04/29/24	397,019
	502,000		2.600		07/23/26	463,944
	290,000		3.150		05/19/27	270,868
(SOFR + 1.620%)
	300,000		5.354	(a)	12/02/28	299,606
	100,000		3.450		04/23/29	91,209
	410,000		2.550		01/22/30	347,243
(SOFR + 0.979%)
	500,000		2.307	(a)	04/23/32	406,415

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Santander Holdings USA, Inc.
$	1,310,000		3.500	%	06/07/24	$    1,274,048
	440,000		3.450		06/02/25	419,539
(SOFR + 1.249%)
	444,000		2.490	(a)	01/06/28	389,020
State Street Corp.
	40,000		3.550		08/18/25	38,756
	160,000		2.650		05/19/26	150,877
	100,000		2.200		03/03/31	81,082
Synchrony Financial
	770,000		4.250		08/15/24	730,404
	392,000		4.500		07/23/25	363,898
	724,000		3.950		12/01/27	624,745
Truist Bank
	380,000		3.200		04/01/24	372,250
	500,000		1.500		03/10/25	461,086
(US 5 Year CMT T-Note + 1.150%)
	750,000		2.636	(a)	09/17/29	692,819
	550,000		2.250		03/11/30	434,957
Truist Financial Corp., MTN
	250,000		2.500		08/01/24	240,222
	605,000		2.850		10/26/24	579,883
	280,000		3.700		06/05/25	266,411
	150,000		1.200		08/05/25	135,266
(SOFR + 0.609%)
	550,000		1.267	(a)	03/02/27	489,533
	750,000		1.950		06/05/30	594,094
US Bancorp
	80,000		2.400		07/30/24	76,901
	250,000		1.450		05/12/25	231,357
(US 5 Year CMT T-Note + 0.950%)
	300,000		2.491	(a)	11/03/36	221,216
US Bancorp, MTN
	290,000		3.600		09/11/24	279,292
	286,000		3.100		04/27/26	264,574
(SOFR + 0.730%)
	300,000		2.215	(a)	01/27/28	267,793
	755,000		3.900		04/26/28	708,682
	387,000		3.000		07/30/29	332,220
	300,000		1.375		07/22/30	228,118
(SOFR + 1.020%)
	950,000		2.677	(a)	01/27/33	765,795
US Bancorp, Series V
	100,000		2.375		07/22/26	91,337
US Bancorp, Series X
	535,000		3.150		04/27/27	499,435

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
US Bank NA
$	550,000		2.050	%	01/21/25	$       520,293
	800,000		2.800		01/27/25	763,807
Wells Fargo & Co.
	815,000		3.000		04/22/26	771,652
(SOFR + 2.000%)
	600,000		2.188	(a)	04/30/26	565,288
	1,234,000		3.000		10/23/26	1,152,879
(SOFR + 2.530%)
	1,119,000		3.068	(a)	04/30/41	816,692
	550,000		5.375		11/02/43	516,358
	492,000		3.900		05/01/45	390,417
Wells Fargo & Co., GMTN
	250,000		4.300		07/22/27	240,462
	404,000		4.900		11/17/45	354,215
Wells Fargo & Co., MTN
	50,000		3.300		09/09/24	48,766
	460,000		3.000		02/19/25	442,919
	272,000		3.550		09/29/25	262,545
(3M U.S. T-Bill MMY + 1.087%)
	500,000		2.406	(a)	10/30/25	478,423
(3M U.S. T-Bill MMY + 1.012%)
	530,000		2.164	(a)	02/11/26	500,844
(SOFR + 1.320%)
	150,000		3.908	(a)	04/25/26	146,029
	250,000		4.100		06/03/26	241,016
(SOFR + 1.560%)
	200,000		4.540	(a)	08/15/26	196,676
(3M U.S. T-Bill MMY + 1.432%)
	320,000		3.196	(a)	06/17/27	300,677
(3M U.S. T-Bill MMY + 1.572%)
	168,000		3.584	(a)	05/22/28	157,810
(SOFR + 2.100%)
	955,000		2.393	(a)	06/02/28	854,324
	775,000		4.150		01/24/29	733,845
(3M U.S. T-Bill MMY + 1.432%)
	976,000		2.879	(a)	10/30/30	844,724
(SOFR + 1.262%)
	900,000		2.572	(a)	02/11/31	758,309
(SOFR + 4.032%)
	200,000		4.478	(a)	04/04/31	190,440
(SOFR + 1.500%)
	750,000		3.350	(a)	03/02/33	643,908
(SOFR + 2.100%)
	100,000		4.897	(a)	07/25/33	96,740
	293,000		4.400		06/14/46	234,915
	400,000		4.750		12/07/46	339,347

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Wells Fargo & Co., MTN – (continued)
(3M U.S. T-Bill MMY + 4.502%)
$	1,192,000		5.013	%(a)	04/04/51	$    1,086,372
Wells Fargo Bank NA
	400,000		6.600		01/15/38	439,024
						127,389,205
Basic Industry – 0.8%
Air Products and Chemicals, Inc.
	300,000		2.700		05/15/40	222,605
CF Industries, Inc.
	500,000		5.150		03/15/34	475,338
	220,000		4.950		06/01/43	184,250
	375,000		5.375		03/15/44	330,509
Dow Chemical Co. (The)
	440,000		7.375		11/01/29	490,874
	200,000		4.375		11/15/42	167,200
	450,000		5.550		11/30/48	432,350
	200,000		3.600		11/15/50	145,575
DuPont de Nemours, Inc.
	500,000		4.493		11/15/25	494,346
	400,000		5.319		11/15/38	395,947
LYB International Finance BV
	753,000		4.875		03/15/44	652,300
LYB International Finance III LLC
	240,000		4.200		10/15/49	180,036
	308,000		4.200		05/01/50	230,741
	200,000		3.625		04/01/51	137,232
LyondellBasell Industries NV
	200,000		4.625		02/26/55	159,260
Sherwin-Williams Co. (The)
	288,000		3.450		06/01/27	273,825
	300,000		4.500		06/01/47	255,591
						5,227,979
Broadcasting – 0.1%
Fox Corp.
	690,000		4.709		01/25/29	673,263
	280,000		5.476		01/25/39	259,945
						933,208
Brokerage – 0.5%
BlackRock, Inc.
	70,000		3.500		03/18/24	68,925
	200,000		2.400		04/30/30	173,505
	200,000		1.900		01/28/31	164,254
	150,000		2.100		02/25/32	122,525
CME Group, Inc.
	50,000		2.650		03/15/32	42,898

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Brokerage – (continued)
CME Group, Inc. – (continued)
$	100,000		5.300	%	09/15/43	$       103,222
Intercontinental Exchange, Inc.
	340,000		2.100		06/15/30	285,475
	830,000		1.850		09/15/32	645,099
	360,000		4.600		03/15/33	351,774
	566,000		3.000		06/15/50	387,277
	392,000		4.950		06/15/52	372,763
	416,000		3.000		09/15/60	264,062
Jefferies Financial Group, Inc.
	125,000		4.150		01/23/30	113,077
						3,094,856
Capital Goods – 1.2%
3M Co.
	500,000		2.375		08/26/29	434,067
Carrier Global Corp.
	40,000		2.493		02/15/27	36,679
	565,000		2.722		02/15/30	487,686
	307,000		2.700		02/15/31	260,114
	438,000		3.377		04/05/40	331,735
	250,000		3.577		04/05/50	179,859
Caterpillar, Inc.
	155,000		3.400		05/15/24	152,107
	40,000		2.600		04/09/30	35,585
	80,000		5.200		05/27/41	82,671
	88,000		3.803		08/15/42	76,314
	246,000		3.250		09/19/49	190,751
Deere & Co.
	266,000		3.900		06/09/42	237,686
	190,000		3.750		04/15/50	165,404
Emerson Electric Co.
	180,000		2.800		12/21/51	118,444
General Electric Co., MTN
	135,000		6.750		03/15/32	152,059
Honeywell International, Inc.
	112,000		2.300		08/15/24	108,529
	763,000		2.500		11/01/26	720,387
	80,000		2.700		08/15/29	72,534
	290,000		1.750		09/01/31	234,935
	300,000		5.000		02/15/33	309,389
Illinois Tool Works, Inc.
	321,000		2.650		11/15/26	305,045
	290,000		3.900		09/01/42	253,281
Otis Worldwide Corp.
	624,000		2.565		02/15/30	540,238

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Capital Goods – (continued)
Parker-Hannifin Corp.
$	300,000		3.650	%	06/15/24	$       294,799
Regal Rexnord Corp.
	350,000		6.050	(b)	02/15/26	351,422
	350,000		6.050	(b)	04/15/28	345,873
	100,000		6.300	(b)	02/15/30	99,971
	200,000		6.400	(b)	04/15/33	197,571
Republic Services, Inc.
	390,000		3.950		05/15/28	375,801
Westinghouse Air Brake Technologies Corp.
	326,000		3.450		11/15/26	307,265
	340,000		4.950		09/15/28	331,307
						7,789,508
Communications – 3.7%
Charter Communications Operating LLC / Charter Communications Operating Capital
	798,000		4.908		07/23/25	784,714
	261,000		3.750		02/15/28	239,285
	414,000		4.200		03/15/28	388,359
	250,000		2.250		01/15/29	207,481
	128,000		5.050		03/30/29	122,791
	370,000		2.800		04/01/31	296,330
	425,000		6.384		10/23/35	412,421
	338,000		5.375		04/01/38	286,341
	300,000		3.500		06/01/41	197,907
	590,000		6.484		10/23/45	534,841
	466,000		5.375		05/01/47	369,308
	432,000		5.750		04/01/48	358,757
	430,000		5.125		07/01/49	329,051
	350,000		4.800		03/01/50	257,580
	748,000		3.700		04/01/51	459,534
	250,000		3.900		06/01/52	157,453
	354,000		3.850		04/01/61	209,743
	254,000		4.400		12/01/61	166,031
	282,000		3.950		06/30/62	169,469
Comcast Corp.
	400,000		3.150		02/15/28	376,030
	400,000		3.550		05/01/28	380,292
	400,000		4.150		10/15/28	390,222
	400,000		3.400		04/01/30	370,274
	500,000		4.650		02/15/33	496,585
	300,000		7.050		03/15/33	348,577
	250,000		4.800		05/15/33	249,636
	150,000		4.200		08/15/34	140,717
	880,000		3.900		03/01/38	765,441
	400,000		3.969		11/01/47	327,766

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Communications – (continued)
Comcast Corp. – (continued)
$	300,000		4.000	%	03/01/48	$       246,575
	400,000		4.700		10/15/48	368,327
	400,000		3.999		11/01/49	326,253
	400,000		3.450		02/01/50	296,727
	400,000		2.800		01/15/51	262,255
	450,000		2.887		11/01/51	297,072
	400,000		2.450		08/15/52	240,605
	750,000		5.350		05/15/53	749,063
	400,000		2.937		11/01/56	256,148
	400,000		4.950		10/15/58	375,251
	560,000		2.650		08/15/62	327,011
	400,000		2.987		11/01/63	247,387
Netflix, Inc.
	400,000		5.875		02/15/25	405,000
	325,000		4.375		11/15/26	320,531
	690,000		5.875		11/15/28	716,738
	227,000		6.375		05/15/29	240,756
Omnicom Group, Inc.
	125,000		2.600		08/01/31	104,363
Omnicom Group, Inc. / Omnicom Capital, Inc.
	362,000		3.650		11/01/24	353,280
	850,000		3.600		04/15/26	821,397
S&P Global, Inc.
	300,000		2.900		03/01/32	261,130
Time Warner Cable Enterprises LLC
	216,000		8.375		07/15/33	239,834
Time Warner Cable LLC
	70,000		6.550		05/01/37	66,828
	304,000		7.300		07/01/38	309,732
	322,000		6.750		06/15/39	304,970
	180,000		5.875		11/15/40	155,895
	431,000		5.500		09/01/41	356,683
TWDC Enterprises 18 Corp., GMTN
	290,000		4.125		06/01/44	250,961
TWDC Enterprises 18 Corp., MTN
	705,000		1.850		07/30/26	650,526
	202,000		2.950		06/15/27	191,039
Walt Disney Co. (The)
	632,000		1.750		08/30/24	606,678
	400,000		3.350		03/24/25	390,455
	202,000		2.200		01/13/28	183,744
	330,000		2.000		09/01/29	283,134
	498,000		3.800		03/22/30	472,161
	1,180,000		2.650		01/13/31	1,027,312
	75,000		6.400		12/15/35	84,209
	100,000		6.650		11/15/37	114,524

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Communications – (continued)
Walt Disney Co. (The) – (continued)
$	250,000		4.625	%	03/23/40	$       236,093
	1,100,000		2.750		09/01/49	733,182
	270,000		4.700		03/23/50	251,631
	383,000		3.800		05/13/60	299,465
						24,217,861
Consumer Cyclical – 6.3%
Amazon.com, Inc.
	250,000		2.730		04/13/24	245,207
	732,000		0.450		05/12/24	699,237
	212,000		2.800		08/22/24	206,657
	379,000		3.800		12/05/24	372,832
	70,000		0.800		06/03/25	64,936
	18,000		5.200		12/03/25	18,203
	200,000		1.200		06/03/27	177,147
	780,000		3.150		08/22/27	745,418
	575,000		1.500		06/03/30	473,781
	600,000		3.600		04/13/32	562,731
	420,000		4.800		12/05/34	429,097
	715,000		3.875		08/22/37	656,328
	400,000		2.875		05/12/41	305,133
	284,000		4.950		12/05/44	287,198
	731,000		4.050		08/22/47	646,380
	444,000		2.500		06/03/50	289,293
	1,086,000		3.100		05/12/51	794,818
	482,000		4.250		08/22/57	428,430
	400,000		2.700		06/03/60	254,675
	400,000		3.250		05/12/61	283,594
	500,000		4.100		04/13/62	423,128
American Honda Finance Corp., MTN
	430,000		2.150		09/10/24	413,889
	40,000		1.200		07/08/25	37,046
Aptiv PLC
	300,000		3.100		12/01/51	180,000
Aptiv PLC / Aptiv Corp.
	216,000		4.150		05/01/52	159,311
Booking Holdings, Inc.
	150,000		4.625		04/13/30	148,670
Costco Wholesale Corp.
	232,000		3.000		05/18/27	221,987
	200,000		1.375		06/20/27	178,739
	100,000		1.600		04/20/30	83,756
	876,000		1.750		04/20/32	709,818
Dollar Tree, Inc.
	236,000		4.200		05/15/28	227,092

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
eBay, Inc.
$	250,000		1.900	%	03/11/25	$       236,097
Expedia Group, Inc.
	300,000		3.250		02/15/30	259,579
General Motors Co.
	500,000		6.125		10/01/25	507,508
	500,000		5.600		10/15/32	482,590
	300,000		6.600		04/01/36	304,391
	300,000		5.150		04/01/38	266,081
	404,000		6.750		04/01/46	401,981
	200,000		5.400		04/01/48	168,281
	550,000		5.950		04/01/49	501,404
General Motors Financial Co., Inc.
	200,000		5.250		03/01/26	198,941
	400,000		2.350		02/26/27	358,035
	100,000		5.000		04/09/27	98,159
	600,000		2.700		08/20/27	535,006
	200,000		6.000		01/09/28	203,016
	650,000		2.350		01/08/31	507,469
	250,000		2.700		06/10/31	197,919
Global Payments, Inc.
	500,000		2.900		11/15/31	408,131
Home Depot, Inc. (The)
	220,000		3.350		09/15/25	213,725
	800,000		4.000		09/15/25	790,698
	556,000		3.000		04/01/26	535,408
	244,000		3.900		12/06/28	237,952
	390,000		2.950		06/15/29	358,192
	400,000		1.375		03/15/31	316,681
	400,000		1.875		09/15/31	326,535
	680,000		5.875		12/16/36	746,459
	460,000		3.300		04/15/40	369,691
	500,000		4.200		04/01/43	439,634
	150,000		4.875		02/15/44	143,877
	130,000		4.400		03/15/45	116,524
	300,000		4.250		04/01/46	262,429
	300,000		4.500		12/06/48	273,016
	300,000		3.125		12/15/49	213,695
	300,000		3.350		04/15/50	223,743
	406,000		2.375		03/15/51	245,549
	300,000		3.500		09/15/56	226,168
Las Vegas Sands Corp.
	116,000		3.200		08/08/24	111,909
	190,000		3.500		08/18/26	176,239
	320,000		3.900		08/08/29	283,958
Marriott International, Inc., Series FF
	236,000		4.625		06/15/30	226,568

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
Marriott International, Inc., Series GG
$	300,000		3.500	%	10/15/32	$       259,081
Marriott International, Inc., Series R
	200,000		3.125		06/15/26	188,722
Mastercard, Inc.
	90,000		2.000		03/03/25	86,063
	143,000		2.950		11/21/26	136,644
	144,000		3.300		03/26/27	138,743
	132,000		2.950		06/01/29	122,078
	508,000		3.350		03/26/30	476,959
	162,000		3.650		06/01/49	134,071
	400,000		3.850		03/26/50	341,808
McDonald’s Corp., MTN
	370,000		3.700		01/30/26	361,262
	304,000		3.500		03/01/27	292,853
	350,000		3.800		04/01/28	339,487
	100,000		2.625		09/01/29	89,415
	282,000		2.125		03/01/30	241,643
	150,000		3.600		07/01/30	140,500
	941,000		4.700		12/09/35	916,929
	150,000		4.875		12/09/45	140,501
	500,000		4.450		03/01/47	441,900
	296,000		4.450		09/01/48	261,890
	122,000		4.200		04/01/50	102,909
NIKE, Inc.
	80,000		2.400		03/27/25	76,982
	115,000		2.375		11/01/26	107,954
	290,000		2.750		03/27/27	274,280
	204,000		2.850		03/27/30	186,042
	250,000		3.250		03/27/40	204,265
	140,000		3.875		11/01/45	121,474
	340,000		3.375		03/27/50	270,949
Starbucks Corp.
	2,012,000		3.800		08/15/25	1,970,348
	100,000		4.000		11/15/28	97,072
	300,000		3.000		02/14/32	263,344
	358,000		4.450		08/15/49	311,682
	290,000		3.500		11/15/50	216,617
Toyota Motor Credit Corp., MTN
	20,000		1.800		02/13/25	19,022
	500,000		3.000		04/01/25	483,260
	1,428,000		1.900		01/13/27	1,299,264
	200,000		3.050		03/22/27	189,319
	535,000		2.150		02/13/30	461,249
	487,000		3.375		04/01/30	450,508
Visa, Inc.
	473,000		3.150		12/14/25	458,091

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
Visa, Inc. – (continued)
$	100,000		1.900	%	04/15/27	$         92,238
	55,000		2.750		09/15/27	51,881
	201,000		2.050		04/15/30	173,959
	980,000		4.150		12/14/35	945,551
	300,000		2.700		04/15/40	231,038
	729,000		4.300		12/14/45	674,639
	40,000		3.650		09/15/47	34,018
	200,000		2.000		08/15/50	122,506
Walmart, Inc.
	150,000		2.850		07/08/24	146,662
	466,000		3.700		06/26/28	457,274
	300,000		1.500		09/22/28	261,871
	220,000		1.800		09/22/31	183,477
	455,000		5.250		09/01/35	489,322
	330,000		6.500		08/15/37	390,948
	465,000		4.050		06/29/48	421,884
	400,000		2.650		09/22/51	279,757
	1,000,000		4.500		09/09/52	957,975
						41,787,949
Consumer Noncyclical – 8.7%
Abbott Laboratories
	763,000		2.950		03/15/25	742,233
	68,000		3.750		11/30/26	67,000
	538,000		4.750		11/30/36	543,599
	540,000		4.900		11/30/46	541,799
AbbVie, Inc.
	100,000		2.600		11/21/24	96,388
	1,452,000		3.800		03/15/25	1,421,056
	2,482,000		3.600		05/14/25	2,416,408
	291,000		3.200		05/14/26	279,650
	250,000		4.250		11/14/28	244,923
	625,000		3.200		11/21/29	566,586
	425,000		4.550		03/15/35	404,887
	1,006,000		4.050		11/21/39	865,850
	300,000		4.850		06/15/44	276,319
	379,000		4.750		03/15/45	343,517
	500,000		4.700		05/14/45	450,462
	304,000		4.450		05/14/46	262,830
	320,000		4.875		11/14/48	296,792
	950,000		4.250		11/21/49	807,817
Altria Group, Inc.
	800,000		2.350		05/06/25	758,325
	780,000		4.800		02/14/29	763,267
	370,000		2.450		02/04/32	289,716
	100,000		5.800		02/14/39	96,589

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Altria Group, Inc. – (continued)
$	270,000		3.400	%	02/04/41	$       185,343
	220,000		4.250		08/09/42	169,702
	310,000		5.375		01/31/44	287,590
	348,000		3.875		09/16/46	241,510
	360,000		5.950		02/14/49	334,231
	70,000		3.700		02/04/51	45,305
	150,000		4.000		02/04/61	102,522
Amgen, Inc.
	300,000		3.125		05/01/25	289,495
	500,000		2.200		02/21/27	459,984
	800,000		5.150		03/02/28	808,017
	400,000		1.650		08/15/28	345,279
	500,000		2.000		01/15/32	396,085
	460,000		4.200		03/01/33	433,105
	300,000		3.150		02/21/40	225,596
	610,000		4.563		06/15/48	529,081
	712,000		3.375		02/21/50	507,295
	900,000		4.663		06/15/51	794,758
	334,000		2.770		09/01/53	203,858
	1,280,000		4.400		02/22/62	1,029,691
	360,000		5.750		03/02/63	359,369
Biogen, Inc.
	372,000		5.200		09/15/45	363,446
Bristol-Myers Squibb Co.
	1,922,000		0.750		11/13/25	1,758,076
	430,000		4.550		02/20/48	395,784
	714,000		4.250		10/26/49	623,617
	600,000		2.550		11/13/50	382,884
	750,000		3.700		03/15/52	600,987
	400,000		3.900		03/15/62	314,367
Centene Corp.
	860,000		4.250		12/15/27	812,511
	400,000		2.450		07/15/28	343,000
	904,000		4.625		12/15/29	840,720
	550,000		3.000		10/15/30	460,625
	546,000		2.500		03/01/31	437,145
Elevance Health, Inc.
	400,000		6.100		10/15/52	431,519
Eli Lilly & Co.
	190,000		3.950		03/15/49	167,814
	300,000		2.250		05/15/50	191,521
	292,000		2.500		09/15/60	180,369
Gilead Sciences, Inc.
	292,000		3.700		04/01/24	287,485
	500,000		2.950		03/01/27	471,064
	476,000		4.000		09/01/36	431,981

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Gilead Sciences, Inc. – (continued)
$	300,000		4.800	%	04/01/44	$       282,657
	300,000		4.750		03/01/46	279,977
	528,000		4.150		03/01/47	452,874
	500,000		2.800		10/01/50	334,079
Johnson & Johnson
	110,200		2.625		01/15/25	106,966
	100,000		0.550		09/01/25	92,085
	98,000		2.450		03/01/26	93,493
	83,000		2.950		03/03/27	79,798
	212,000		0.950		09/01/27	186,494
	250,000		2.900		01/15/28	238,066
	50,000		1.300		09/01/30	41,398
	190,000		4.375		12/05/33	192,887
	995,000		3.550		03/01/36	905,144
	872,000		3.625		03/03/37	792,765
	250,000		5.950		08/15/37	287,634
	245,000		3.400		01/15/38	216,586
	46,000		2.100		09/01/40	32,138
	208,000		3.700		03/01/46	180,330
	218,000		3.750		03/03/47	190,423
	125,000		2.450		09/01/60	78,475
Kroger Co. (The)
	500,000		3.950		01/15/50	397,953
Medtronic, Inc.
	580,000		4.375		03/15/35	564,212
	385,000		4.625		03/15/45	368,447
Merck & Co., Inc.
	950,000		2.900		03/07/24	932,218
	528,000		2.750		02/10/25	512,382
	102,000		0.750		02/24/26	92,733
	240,000		3.400		03/07/29	228,321
	500,000		2.150		12/10/31	418,220
	100,000		3.900		03/07/39	88,817
	250,000		4.150		05/18/43	225,806
	540,000		3.700		02/10/45	456,155
	300,000		4.000		03/07/49	262,015
	846,000		2.450		06/24/50	548,453
Mylan, Inc.
	195,000		4.550		04/15/28	184,648
	254,000		5.200		04/15/48	191,751
Pfizer Investment Enterprises Pte Ltd.
	1,000,000		4.650		05/19/25	996,396
	1,000,000		4.450		05/19/28	998,906
	1,000,000		4.750		05/19/33	1,006,454
	1,000,000		5.110		05/19/43	996,079
	1,000,000		5.300		05/19/53	1,030,423

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Pfizer Investment Enterprises Pte Ltd. – (continued)
$	380,000		5.340	%	05/19/63	$       381,206
Pfizer, Inc.
	200,000		2.950		03/15/24	196,565
	50,000		3.400		05/15/24	49,102
	92,000		0.800		05/28/25	85,384
	276,000		3.450		03/15/29	263,068
	618,000		2.625		04/01/30	550,550
	400,000		3.900		03/15/39	353,022
	425,000		7.200		03/15/39	529,085
	260,000		2.550		05/28/40	188,556
	100,000		4.300		06/15/43	91,013
	110,000		4.400		05/15/44	103,471
	300,000		4.125		12/15/46	264,134
	352,000		4.200		09/15/48	316,366
	100,000		4.000		03/15/49	86,847
	525,000		2.700		05/28/50	364,595
Philip Morris International, Inc.
	50,000		3.250		11/10/24	48,698
	1,190,000		3.375		08/11/25	1,151,390
	500,000		5.000		11/17/25	500,176
	394,000		2.750		02/25/26	372,174
	500,000		5.625		11/17/29	511,976
	100,000		5.125		02/15/30	99,058
	200,000		2.100		05/01/30	164,826
	300,000		5.375		02/15/33	297,257
	274,000		6.375		05/16/38	293,298
	200,000		4.375		11/15/41	167,917
	110,000		3.875		08/21/42	85,329
	241,000		4.125		03/04/43	190,889
	150,000		4.875		11/15/43	131,241
	145,000		4.250		11/10/44	116,613
Regeneron Pharmaceuticals, Inc.
	346,000		2.800		09/15/50	222,078
Stryker Corp.
	220,000		4.625		03/15/46	198,146
Utah Acquisition Sub, Inc.
	565,000		3.950		06/15/26	537,937
	200,000		5.250		06/15/46	152,750
Viatris, Inc.
	423,000		4.000		06/22/50	271,599
Walgreens Boots Alliance, Inc.
	574,000		3.800		11/18/24	560,823
	450,000		3.450		06/01/26	427,261
	106,000		4.800		11/18/44	88,322
	50,000		4.100		04/15/50	36,431

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Wyeth LLC
$	388,000		6.500	%	02/01/34	$       439,293
	300,000		5.950		04/01/37	330,627
Zoetis, Inc.
	158,000		3.000		09/12/27	148,666
	410,000		4.700		02/01/43	374,685
						57,085,826
Consumer Products – 0.4%
Haleon US Capital LLC
	300,000		3.625		03/24/32	269,336
	400,000		4.000		03/24/52	324,554
Procter & Gamble Co. (The)
	80,000		0.550		10/29/25	73,049
	50,000		2.450		11/03/26	47,054
	214,000		1.900		02/01/27	197,947
	250,000		2.850		08/11/27	237,508
	680,000		3.000		03/25/30	633,685
	500,000		1.200		10/29/30	405,995
	300,000		1.950		04/23/31	256,257
	110,000		2.300		02/01/32	96,539
						2,541,924
Electric – 2.8%
American Electric Power Co., Inc.(a)
(US 5 Year CMT T-Note + 2.675%)
	270,000		3.875		02/15/62	216,000
Consolidated Edison Co. of New York, Inc.
	250,000		4.625		12/01/54	214,095
	134,000		3.600		06/15/61	95,872
Consolidated Edison Co. of New York, Inc., Series 20B
	400,000		3.950		04/01/50	322,345
Duke Energy Carolinas LLC
	345,000		3.200		08/15/49	245,935
Duke Energy Corp.
	372,000		3.750		04/15/24	366,323
	390,000		2.650		09/01/26	361,815
	480,000		2.450		06/01/30	401,435
	504,000		3.750		09/01/46	375,799
	350,000		3.500		06/15/51	248,055
Duke Energy Florida LLC
	300,000		6.400		06/15/38	333,312
Entergy Louisiana LLC
	250,000		0.950		10/01/24	236,251
	1,030,000		4.000		03/15/33	946,347
	242,000		4.200		09/01/48	202,768
Exelon Corp.
	92,000		4.050		04/15/30	86,466

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Exelon Corp. – (continued)
$	288,000		4.700	%	04/15/50	$       250,347
Florida Power & Light Co.
	200,000		5.050		04/01/28	204,463
	250,000		3.950		03/01/48	208,569
	342,000		3.150		10/01/49	246,985
Georgia Power Co.
	1,000,000		4.950		05/17/33	988,483
	100,000		5.125		05/15/52	95,282
Georgia Power Co., Series A
	436,000		3.250		03/15/51	302,814
NextEra Energy Capital Holdings, Inc.
	1,050,000		6.051		03/01/25	1,062,557
	1,060,000		2.250		06/01/30	882,518
	500,000		2.440		01/15/32	405,773
NiSource, Inc.
	100,000		0.950		08/15/25	91,142
	192,000		3.600		05/01/30	173,635
	926,000		1.700		02/15/31	727,181
	264,000		4.375		05/15/47	222,449
	276,000		3.950		03/30/48	217,316
Pacific Gas and Electric Co.
	50,000		3.450		07/01/25	47,568
	421,000		2.100		08/01/27	363,185
	650,000		3.300		12/01/27	579,669
	70,000		3.750		07/01/28	63,495
	600,000		4.550		07/01/30	544,181
	352,000		3.300		08/01/40	235,453
	340,000		3.950		12/01/47	228,103
	300,000		4.950		07/01/50	233,860
	400,000		3.500		08/01/50	248,261
	100,000		6.750		01/15/53	98,027
PacifiCorp
	1,000,000		5.500		05/15/54	1,013,329
Sempra Energy
	548,000		3.250		06/15/27	511,375
	250,000		3.400		02/01/28	232,127
	300,000		6.000		10/15/39	306,215
	240,000		4.000		02/01/48	186,809
(US 5 Year CMT T-Note + 2.868%)
	640,000		4.125	(a)	04/01/52	520,000
Southern California Edison Co.
	437,000		4.000		04/01/47	343,893
	318,000		3.650		02/01/50	235,947
Southern California Edison Co., Series 20A
	220,000		2.950		02/01/51	142,110

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Southern California Edison Co., Series C
$	200,000		4.125	%	03/01/48	$       160,747
Southern Co. (The)
	856,000		3.250		07/01/26	811,931
	430,000		4.400		07/01/46	358,327
Southern Co. (The)(a), Series B
(US 5 Year CMT T-Note + 3.733%)
	300,000		4.000		01/15/51	278,794
Virginia Electric and Power Co.
	492,000		2.450		12/15/50	290,486
						18,766,224
Energy – 6.6%
Baker Hughes Holdings LLC
	50,000		5.125		09/15/40	47,462
Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc.
	240,000		3.337		12/15/27	224,051
	300,000		4.080		12/15/47	236,532
BP Capital Markets America, Inc.
	150,000		3.119		05/04/26	143,957
	1,842,000		3.017		01/16/27	1,749,015
	230,000		1.749		08/10/30	189,248
	700,000		2.721		01/12/32	598,094
	548,000		2.772		11/10/50	355,884
	578,000		2.939		06/04/51	388,705
Cheniere Corpus Christi Holdings LLC
	617,000		5.875		03/31/25	617,771
	1,196,000		5.125		06/30/27	1,185,535
Cheniere Energy Partners LP
	400,000		4.500		10/01/29	367,000
	400,000		4.000		03/01/31	353,500
	400,000		3.250		01/31/32	328,820
Chevron Corp.
	150,000		2.895		03/03/24	147,727
	200,000		1.554		05/11/25	188,653
	110,000		3.326		11/17/25	107,628
	255,000		1.995		05/11/27	233,411
	590,000		2.236		05/11/30	516,302
	352,000		3.078		05/11/50	258,745
Chevron USA, Inc.
	174,000		0.687		08/12/25	160,069
ConocoPhillips
	410,000		6.500		02/01/39	467,154
ConocoPhillips Co.
	100,000		6.950		04/15/29	111,612
	100,000		3.758		03/15/42	82,845
	300,000		4.300		11/15/44	263,285

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
ConocoPhillips Co. – (continued)
$	150,000		4.025	%	03/15/62	$       119,875
Devon Energy Corp.
	170,000		5.600		07/15/41	158,294
	355,000		4.750		05/15/42	297,821
	100,000		5.000		06/15/45	86,237
Diamondback Energy, Inc.
	515,000		3.250		12/01/26	490,538
	92,000		3.500		12/01/29	82,962
	896,000		6.250		03/15/33	933,038
Energy Transfer LP
	200,000		4.500		04/15/24	197,454
	608,000		4.050		03/15/25	593,683
	668,000		2.900		05/15/25	635,573
	200,000		4.750		01/15/26	197,195
	200,000		5.500		06/01/27	200,864
	100,000		4.000		10/01/27	94,728
	230,000		4.950		06/15/28	225,351
	151,000		5.250		04/15/29	149,324
	100,000		3.750		05/15/30	90,344
	100,000		6.500		02/01/42	99,726
	201,000		5.300		04/15/47	170,166
	283,000		5.400		10/01/47	243,437
	277,000		6.000		06/15/48	254,497
	431,000		6.250		04/15/49	410,191
	480,000		5.000		05/15/50	392,368
Enterprise Products Operating LLC
	207,000		3.750		02/15/25	203,059
	326,000		3.125		07/31/29	294,328
	150,000		2.800		01/31/30	132,051
	150,000		5.950		02/01/41	153,619
	207,000		4.850		08/15/42	187,674
	220,000		4.450		02/15/43	189,774
	268,000		4.850		03/15/44	241,709
	176,000		5.100		02/15/45	163,599
	220,000		4.900		05/15/46	198,578
	414,000		4.800		02/01/49	371,080
	368,000		4.200		01/31/50	299,178
	775,000		3.950		01/31/60	577,559
Enterprise Products Operating LLC(a), Series E
(3M USD LIBOR + 3.033%)
	164,000		5.250		08/16/77	143,632
EOG Resources, Inc.
	916,000		4.150		01/15/26	904,933
	216,000		4.375		04/15/30	212,966
	236,000		4.950		04/15/50	229,214

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
EQT Corp.
$	400,000		6.125	%	02/01/25	$       400,460
	200,000		3.900		10/01/27	186,250
Exxon Mobil Corp.
	302,000		2.019		08/16/24	291,954
	742,000		2.992		03/19/25	719,499
	310,000		3.043		03/01/26	299,145
	130,000		2.275		08/16/26	121,998
	100,000		3.294		03/19/27	97,146
	476,000		3.482		03/19/30	448,673
	100,000		4.227		03/19/40	91,474
	430,000		3.567		03/06/45	348,231
	100,000		4.114		03/01/46	86,763
	408,000		3.095		08/16/49	294,542
	628,000		4.327		03/19/50	558,342
	260,000		3.452		04/15/51	199,490
Halliburton Co.
	368,000		2.920		03/01/30	324,948
	493,000		4.850		11/15/35	466,527
	500,000		7.450		09/15/39	569,924
	200,000		5.000		11/15/45	177,327
Hess Corp.
	290,000		4.300		04/01/27	281,145
	148,000		6.000		01/15/40	146,149
	373,000		5.600		02/15/41	350,202
Kinder Morgan Energy Partners LP
	388,000		5.500		03/01/44	348,247
Kinder Morgan, Inc.
	396,000		5.550		06/01/45	357,139
	402,000		5.050		02/15/46	338,912
	100,000		3.600		02/15/51	67,476
Kinder Morgan, Inc., GMTN
	1,000,000		7.750		01/15/32	1,134,066
Marathon Petroleum Corp.
	250,000		3.625		09/15/24	243,960
	200,000		4.750		09/15/44	165,469
MPLX LP
	136,000		4.125		03/01/27	132,199
	100,000		4.800		02/15/29	97,624
	914,000		2.650		08/15/30	768,081
	350,000		4.500		04/15/38	300,708
	310,000		5.200		03/01/47	268,022
	520,000		5.500		02/15/49	463,265
Occidental Petroleum Corp.
	1,600,000		0.000	(c)	10/10/36	842,747
	350,000		6.600		03/15/46	358,049

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
ONEOK, Inc.
$	200,000		4.550	%	07/15/28	$       192,204
	378,000		3.100		03/15/30	325,637
	680,000		6.100		11/15/32	689,218
	100,000		5.200		07/15/48	83,537
Phillips 66
	100,000		3.900		03/15/28	96,166
	390,000		4.650		11/15/34	366,155
	150,000		5.875		05/01/42	153,849
	450,000		4.875		11/15/44	406,975
Plains All American Pipeline LP / PAA Finance Corp.
	750,000		3.600		11/01/24	728,229
	766,000		4.650		10/15/25	752,225
	240,000		4.500		12/15/26	232,177
	339,000		3.550		12/15/29	299,608
Sabine Pass Liquefaction LLC
	600,000		5.750		05/15/24	598,875
	500,000		5.625		03/01/25	499,862
	1,252,000		5.875		06/30/26	1,269,622
	430,000		5.000		03/15/27	426,087
	108,000		4.200		03/15/28	102,870
Spectra Energy Partners LP
	330,000		4.750		03/15/24	326,837
Targa Resources Corp.
	400,000		4.950		04/15/52	317,929
Transcontinental Gas Pipe Line Co. LLC
	144,000		7.850		02/01/26	152,736
Valero Energy Corp.
	820,000		6.625		06/15/37	879,246
Western Midstream Operating LP
	470,000		5.500		02/01/50	377,175
Williams Cos., Inc. (The)
	280,000		4.000		09/15/25	271,892
	318,000		3.750		06/15/27	303,261
	384,000		3.500		11/15/30	343,907
	432,000		6.300		04/15/40	448,092
	200,000		5.100		09/15/45	176,415
	240,000		4.850		03/01/48	204,095
						43,320,658
Financial Company – 0.9%
Air Lease Corp.
	80,000		1.875		08/15/26	70,600
	550,000		3.125		12/01/30	455,418
Air Lease Corp., MTN
	1,170,000		2.875		01/15/26	1,089,030

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Financial Company – (continued)
Ally Financial, Inc.
$	770,000		3.875	%	05/21/24	$       745,207
	100,000		5.750		11/20/25	97,189
	469,000		8.000		11/01/31	489,586
Ares Capital Corp.
	475,000		2.150		07/15/26	413,250
	300,000		2.875		06/15/28	249,686
Blackstone Private Credit Fund
	49,000		2.625		12/15/26	41,726
	500,000		3.250		03/15/27	428,903
GE Capital International Funding Co. Unlimited
	1,772,000		4.418		11/15/35	1,683,319
						5,763,914
Food and Beverage – 2.2%
Coca-Cola Co. (The)
	50,000		3.375		03/25/27	48,687
	250,000		1.450		06/01/27	226,419
	240,000		1.000		03/15/28	207,534
	102,000		2.125		09/06/29	89,919
	852,000		3.450		03/25/30	808,684
	226,000		1.650		06/01/30	189,432
	300,000		2.000		03/05/31	253,331
	500,000		1.375		03/15/31	402,164
	360,000		2.500		06/01/40	269,009
	110,000		2.875		05/05/41	85,601
	430,000		2.600		06/01/50	297,541
	100,000		3.000		03/05/51	74,862
	250,000		2.500		03/15/51	168,244
	220,000		2.750		06/01/60	149,718
Hormel Foods Corp.
	300,000		1.800		06/11/30	251,103
Keurig Dr Pepper, Inc.
	220,000		0.750		03/15/24	211,804
	1,019,000		3.200		05/01/30	921,091
	100,000		3.800		05/01/50	76,930
	560,000		4.500		04/15/52	482,068
Kraft Heinz Foods Co.
	565,000		3.000		06/01/26	537,112
	250,000		6.875		01/26/39	279,773
	507,000		5.000		06/04/42	472,868
	552,000		4.375		06/01/46	464,244
	410,000		4.875		10/01/49	371,349
Molson Coors Beverage Co.
	880,000		3.000		07/15/26	829,597
	190,000		5.000		05/01/42	176,196
	370,000		4.200		07/15/46	298,213

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Food and Beverage – (continued)
Mondelez International, Inc.
$	435,000		2.750	%	04/13/30	$       383,380
	490,000		2.625		09/04/50	314,171
PepsiCo, Inc.
	599,000		3.600		03/01/24	593,193
	456,000		2.250		03/19/25	437,170
	112,000		2.750		04/30/25	108,269
	160,000		2.850		02/24/26	153,931
	166,000		2.375		10/06/26	155,585
	68,000		3.000		10/15/27	64,787
	96,000		2.625		07/29/29	87,086
	210,000		2.750		03/19/30	189,722
	210,000		1.625		05/01/30	175,346
	100,000		1.400		02/25/31	81,156
	400,000		1.950		10/21/31	334,043
	290,000		2.625		10/21/41	216,962
	300,000		4.450		04/14/46	287,851
	280,000		3.450		10/06/46	227,825
	200,000		2.875		10/15/49	147,132
	130,000		3.625		03/19/50	109,093
Sysco Corp.
	604,000		3.300		07/15/26	577,465
	547,000		3.250		07/15/27	515,926
	329,000		5.950		04/01/30	347,239
	270,000		6.600		04/01/50	300,884
						14,451,709
Hardware – 0.2%
Micron Technology, Inc.
	543,000		4.185		02/15/27	523,316
	470,000		4.663		02/15/30	444,738
	728,000		2.703		04/15/32	575,868
						1,543,922
Healthcare – 4.9%
Aetna, Inc.
	450,000		3.500		11/15/24	437,905
	140,000		6.625		06/15/36	153,513
	348,000		3.875		08/15/47	268,181
Cigna Group (The)
	2,482,000		4.125		11/15/25	2,433,874
	800,000		4.375		10/15/28	779,090
	500,000		2.400		03/15/30	426,668
	300,000		4.800		08/15/38	281,735
	130,000		4.800		07/15/46	116,641
	674,000		4.900		12/15/48	614,887
	290,000		3.400		03/15/50	207,228
	472,000		3.400		03/15/51	337,376

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare – (continued)
CVS Health Corp.
$	850,000		2.625	%	08/15/24	$       823,685
	1,154,000		4.100		03/25/25	1,141,191
	556,000		3.875		07/20/25	544,906
	100,000		2.875		06/01/26	94,799
	368,000		3.000		08/15/26	347,000
	488,000		3.625		04/01/27	466,772
	750,000		1.300		08/21/27	647,596
	825,000		4.300		03/25/28	804,639
	523,000		3.250		08/15/29	472,673
	150,000		5.125		02/21/30	149,517
	150,000		5.250		02/21/33	150,722
	1,116,000		4.780		03/25/38	1,036,344
	246,000		4.125		04/01/40	204,689
	520,000		2.700		08/21/40	360,609
	176,000		5.300		12/05/43	167,919
	616,000		5.125		07/20/45	563,470
	1,208,000		5.050		03/25/48	1,094,131
	50,000		4.250		04/01/50	40,486
Danaher Corp.
	340,000		2.800		12/10/51	227,986
Elevance Health, Inc.
	506,000		3.500		08/15/24	494,784
	50,000		3.350		12/01/24	48,578
	552,000		3.650		12/01/27	526,886
	300,000		2.550		03/15/31	254,593
	84,000		4.625		05/15/42	75,348
	309,000		4.650		01/15/43	278,867
	174,000		4.650		08/15/44	155,785
	340,000		4.375		12/01/47	292,429
	318,000		4.550		03/01/48	278,890
	300,000		3.125		05/15/50	206,813
HCA, Inc.
	476,000		5.000		03/15/24	472,728
	820,000		5.250		04/15/25	811,800
	528,000		5.250		06/15/26	522,720
	308,000		5.375		09/01/26	307,230
	555,000		4.500		02/15/27	540,084
	300,000		5.625		09/01/28	302,625
	404,000		4.125		06/15/29	375,398
	500,000		3.500		09/01/30	441,588
	100,000		5.125		06/15/39	91,366
	315,000		5.500		06/15/47	289,020
	410,000		5.250		06/15/49	362,005
	220,000		3.500		07/15/51	148,809
	415,000		4.625	(b)	03/15/52	334,050

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare – (continued)
Humana, Inc.
$	300,000		3.700	%	03/23/29	$       279,042
	1,000,000		5.875		03/01/33	1,051,691
UnitedHealth Group, Inc.
	548,000		3.750		07/15/25	537,484
	100,000		3.100		03/15/26	96,588
	100,000		3.450		01/15/27	96,876
	600,000		2.300		05/15/31	512,177
	688,000		4.200		05/15/32	663,666
	500,000		5.350		02/15/33	522,925
	758,000		4.625		07/15/35	743,973
	838,000		4.250		03/15/43	751,935
	631,000		4.450		12/15/48	565,899
	300,000		3.700		08/15/49	238,878
	700,000		3.250		05/15/51	513,652
	511,000		4.750		05/15/52	478,899
	500,000		3.875		08/15/59	395,170
	1,500,000		6.050		02/15/63	1,658,475
						32,115,958
Insurance – 1.6%
American International Group, Inc.
	386,000		2.500		06/30/25	365,123
	50,000		3.900		04/01/26	48,524
	204,000		4.800		07/10/45	179,778
	301,000		4.750		04/01/48	261,506
	100,000		4.375		06/30/50	82,664
American International Group, Inc.(a), Series A-9
(3M USD LIBOR + 2.868%)
	338,000		5.750		04/01/48	326,385
Aon Corp.
	200,000		2.800		05/15/30	174,584
Aon Corp. / Aon Global Holdings PLC
	352,000		3.900		02/28/52	274,507
Berkshire Hathaway Finance Corp.
	130,000		1.450		10/15/30	106,114
	530,000		2.875		03/15/32	470,817
	50,000		2.500		01/15/51	32,050
	850,000		3.850		03/15/52	693,633
Berkshire Hathaway, Inc.
	100,000		4.500		02/11/43	94,835
Chubb INA Holdings, Inc.
	472,000		4.350		11/03/45	422,149
Corebridge Financial, Inc.
	444,000		3.650		04/05/27	415,296
	250,000		3.900		04/05/32	216,595

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Insurance – (continued)
Equitable Holdings, Inc.
$	426,000		5.000	%	04/20/48	$       361,695
Everest Reinsurance Holdings, Inc.
	470,000		3.500		10/15/50	329,562
Marsh & McLennan Cos., Inc.
	175,000		4.375		03/15/29	171,188
	100,000		2.250		11/15/30	83,425
	206,000		4.900		03/15/49	190,824
MetLife, Inc.
	270,000		3.600		04/10/24	265,919
	150,000		4.550		03/23/30	148,121
	400,000		5.700		06/15/35	412,164
	556,000		6.400		12/15/36	548,886
	304,000		4.125		08/13/42	249,703
	250,000		4.875		11/13/43	226,534
	200,000		4.600		05/13/46	175,007
Prudential Financial, Inc.
(3M USD LIBOR + 3.031%)
	1,162,000		5.375	(a)	05/15/45	1,113,406
(3M USD LIBOR + 2.380%)
	228,000		4.500	(a)	09/15/47	206,188
	210,000		3.905		12/07/47	162,769
	246,000		3.935		12/07/49	192,339
(US 5 Year CMT T-Note + 3.035%)
	192,000		3.700	(a)	10/01/50	163,011
Prudential Financial, Inc., MTN
	300,000		5.700		12/14/36	314,894
	307,000		4.350		02/25/50	257,098
	308,000		3.700		03/13/51	231,367
Travelers Cos., Inc. (The)
	440,000		3.050		06/08/51	305,781
						10,274,441
Metals and Mining – 0.0%
Newmont Corp.
	300,000		2.250		10/01/30	248,379
Mining – 0.1%
Freeport-McMoRan, Inc.
	400,000		4.625		08/01/30	377,000
	70,000		5.400		11/14/34	67,463
	294,000		5.450		03/15/43	268,642
						713,105
Pharmaceuticals – 0.1%
Viatris, Inc.
	610,000		3.850		06/22/40	410,039

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
REITs and Real Estate – 0.9%
Boston Properties LP
$	726,000		2.550	%	04/01/32	$       535,204
	390,000		2.450		10/01/33	273,650
Digital Realty Trust LP
	900,000		3.600		07/01/29	784,826
Equinix, Inc.
	80,000		2.625		11/18/24	76,591
	270,000		3.200		11/18/29	237,519
	204,000		2.150		07/15/30	165,317
	200,000		2.500		05/15/31	163,266
GLP Capital LP / GLP Financing II, Inc.
	594,000		5.375		04/15/26	575,736
	236,000		5.300		01/15/29	225,080
	150,000		3.250		01/15/32	121,735
Simon Property Group LP
	440,000		3.300		01/15/26	420,548
	68,000		3.250		11/30/26	63,976
	440,000		2.450		09/13/29	373,898
	204,000		2.650		07/15/30	173,137
	284,000		3.250		09/13/49	187,241
	220,000		3.800		07/15/50	160,004
VICI Properties LP
	300,000		4.750		02/15/28	285,789
	400,000		4.950		02/15/30	373,228
	400,000		5.125		05/15/32	372,653
Welltower OP LLC
	170,000		3.625		03/15/24	166,755
	300,000		4.250		04/15/28	285,852
	276,000		3.100		01/15/30	239,463
						6,261,468
Revenue – 0.4%
Ascension Health
	200,000		3.945		11/15/46	169,145
Ascension Health, Series B
	440,000		2.532		11/15/29	383,109
CommonSpirit Health
	1,100,000		2.760		10/01/24	1,064,101
	220,000		3.347		10/01/29	196,514
	239,000		4.350		11/01/42	203,532
	200,000		4.187		10/01/49	160,385
Kaiser Foundation Hospitals
	295,000		4.150		05/01/47	257,482
Kaiser Foundation Hospitals, Series 2019
	286,000		3.266		11/01/49	212,319
Kaiser Foundation Hospitals, Series 2021
	125,000		2.810		06/01/41	91,276

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Revenue – (continued)
Kaiser Foundation Hospitals, Series 2021 – (continued)
$	300,000		3.002	%	06/01/51	$       209,003
						2,946,866
Software – 1.5%
Oracle Corp.
	500,000		3.400		07/08/24	489,056
	1,500,000		6.150		11/09/29	1,576,743
	300,000		2.950		04/01/30	262,731
	2,000,000		6.250		11/09/32	2,113,679
	600,000		3.900		05/15/35	513,731
	490,000		4.000		11/15/47	365,919
	2,530,000		6.900		11/09/52	2,767,121
	500,000		3.850		04/01/60	338,359
	500,000		4.100		03/25/61	360,017
Salesforce, Inc.
	500,000		1.950		07/15/31	415,347
	700,000		2.900		07/15/51	480,852
						9,683,555
Technology – 7.0%
Activision Blizzard, Inc.
	280,000		2.500		09/15/50	176,792
Adobe, Inc.
	192,000		3.250		02/01/25	187,653
	82,000		2.150		02/01/27	75,643
	500,000		2.300		02/01/30	441,205
Alphabet, Inc.
	182,000		1.998		08/15/26	170,357
	50,000		0.800		08/15/27	43,947
	132,000		1.100		08/15/30	107,594
	1,500,000		1.900		08/15/40	1,026,441
	823,000		2.050		08/15/50	506,502
	497,000		2.250		08/15/60	298,082
Analog Devices, Inc.
	75,000		3.500		12/05/26	72,690
	250,000		1.700		10/01/28	217,763
Apple, Inc.
	448,000		3.450		05/06/24	440,525
	138,000		2.850		05/11/24	134,886
	184,000		2.750		01/13/25	178,772
	112,000		2.500		02/09/25	108,242
	91,000		1.125		05/11/25	85,240
	40,000		3.200		05/13/25	39,019
	50,000		0.550		08/20/25	46,015
	129,000		0.700		02/08/26	117,016
	361,000		3.250		02/23/26	350,486
	144,000		2.450		08/04/26	136,186

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – (continued)
Apple, Inc. – (continued)
$	150,000		2.050	%	09/11/26	$       140,056
	100,000		3.000		06/20/27	96,136
	692,000		2.900		09/12/27	658,554
	218,000		3.000		11/13/27	207,886
	88,000		1.200		02/08/28	77,087
	330,000		1.400		08/05/28	288,744
	400,000		1.650		05/11/30	340,804
	250,000		1.250		08/20/30	205,111
	850,000		1.650		02/08/31	709,322
	300,000		1.700		08/05/31	248,779
	625,000		4.500		02/23/36	641,334
	102,000		2.375		02/08/41	74,809
	545,000		3.850		05/04/43	484,166
	310,000		4.450		05/06/44	303,789
	305,000		3.450		02/09/45	256,287
	350,000		4.375		05/13/45	331,429
	642,000		4.650		02/23/46	638,021
	306,000		3.850		08/04/46	268,072
	208,000		4.250		02/09/47	195,900
	270,000		3.750		09/12/47	231,236
	446,000		3.750		11/13/47	381,738
	793,000		2.950		09/11/49	585,066
	594,000		2.650		05/11/50	409,922
	239,000		2.400		08/20/50	157,745
	680,000		2.650		02/08/51	464,498
	325,000		2.800		02/08/61	215,168
Applied Materials, Inc.
	130,000		3.300		04/01/27	125,273
	650,000		1.750		06/01/30	542,085
	236,000		4.350		04/01/47	217,066
Broadcom Corp. / Broadcom Cayman Finance Ltd.
	659,000		3.875		01/15/27	634,220
	598,000		3.500		01/15/28	555,360
Broadcom, Inc.
	440,000		3.150		11/15/25	419,504
	380,000		3.459		09/15/26	362,815
	605,000		4.750		04/15/29	590,678
	274,000		4.150		11/15/30	251,723
	570,000		2.450	(b)	02/15/31	461,124
	470,000		4.300		11/15/32	428,220
	805,000		3.419	(b)	04/15/33	670,521
	290,000		3.469	(b)	04/15/34	237,844
	600,000		3.137	(b)	11/15/35	459,171
	500,000		3.187	(b)	11/15/36	374,085
	600,000		3.500	(b)	02/15/41	443,763
	360,000		3.750	(b)	02/15/51	260,835

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – (continued)
Fiserv, Inc.
$	400,000		2.750	%	07/01/24	$       387,926
	150,000		3.850		06/01/25	145,938
	440,000		3.200		07/01/26	416,667
	300,000		4.200		10/01/28	289,745
	500,000		3.500		07/01/29	458,190
	400,000		4.400		07/01/49	330,438
Hewlett Packard Enterprise Co.
	340,000		1.450		04/01/24	328,697
	300,000		4.900		10/15/25	298,879
	300,000		6.350		10/15/45	306,616
International Business Machines Corp.
	250,000		3.450		02/19/26	241,567
	1,510,000		3.300		05/15/26	1,452,641
	300,000		1.700		05/15/27	269,009
	1,086,000		1.950		05/15/30	903,642
	540,000		4.150		05/15/39	469,873
	200,000		4.000		06/20/42	165,936
	300,000		4.250		05/15/49	251,803
	300,000		2.950		05/15/50	197,053
	500,000		4.900		07/27/52	455,945
KLA Corp.
	87,000		4.650		11/01/24	86,349
	130,000		4.100		03/15/29	126,501
	100,000		3.300		03/01/50	74,429
Lam Research Corp.
	238,000		4.000		03/15/29	231,305
	228,000		1.900		06/15/30	190,665
	220,000		4.875		03/15/49	210,649
	352,000		2.875		06/15/50	242,502
Leidos, Inc.
	300,000		4.375		05/15/30	274,500
	50,000		2.300		02/15/31	39,031
	500,000		5.750		03/15/33	495,217
Meta Platforms, Inc.
	1,000,000		4.600		05/15/28	1,002,104
	750,000		4.950		05/15/33	750,067
Microchip Technology, Inc.
	120,000		4.250		09/01/25	117,166
Microsoft Corp.
	1,348,000		2.700		02/12/25	1,308,411
	154,000		3.125		11/03/25	149,509
	80,000		2.400		08/08/26	75,898
	87,000		3.300		02/06/27	85,135
	960,000		3.500		02/12/35	905,251
	470,000		3.450		08/08/36	429,270
	81,000		4.100		02/06/37	79,219

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – (continued)
Microsoft Corp. – (continued)
$	264,000		4.450	%	11/03/45	$       261,059
	300,000		3.700		08/08/46	262,271
	470,000		4.250		02/06/47	455,840
	1,047,000		2.525		06/01/50	723,119
	1,040,000		2.921		03/17/52	768,419
	632,000		2.675		06/01/60	422,486
	400,000		3.041		03/17/62	291,080
Motorola Solutions, Inc.
	692,000		4.600		05/23/29	678,553
NVIDIA Corp.
	2,198,000		0.584		06/14/24	2,095,297
	80,000		1.550		06/15/28	70,438
	400,000		2.000		06/15/31	336,072
	400,000		3.500		04/01/50	321,525
PayPal Holdings, Inc.
	400,000		2.400		10/01/24	386,281
	250,000		1.650		06/01/25	235,023
	1,060,000		4.400		06/01/32	1,021,929
	50,000		3.250		06/01/50	35,086
QUALCOMM, Inc.
	152,000		2.900		05/20/24	148,419
	135,000		3.450		05/20/25	131,515
	304,000		3.250		05/20/27	291,368
	126,000		2.150		05/20/30	107,744
	320,000		4.650		05/20/35	317,007
	396,000		4.800		05/20/45	378,540
	250,000		4.300		05/20/47	221,154
	470,000		4.500		05/20/52	418,613
Texas Instruments, Inc.
	232,000		2.250		09/04/29	204,241
	300,000		4.900		03/14/33	308,008
	669,000		4.150		05/15/48	593,123
						46,334,955
Transportation – 1.3%
CSX Corp.
	400,000		4.100		03/15/44	340,330
FedEx Corp.
	408,000		5.100		01/15/44	376,129
	510,000		4.750		11/15/45	445,964
	934,000		4.550		04/01/46	788,529
FedEx Corp. Pass Through Trust, Series 2020-1
	43,316		1.875		02/20/34	35,519
Norfolk Southern Corp.
	450,000		3.155		05/15/55	299,912

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Transportation – (continued)
Southwest Airlines Co.
$	270,000		5.250	%	05/04/25	$       268,496
	125,000		5.125		06/15/27	124,580
Union Pacific Corp.
	500,000		2.400		02/05/30	438,722
	1,950,000		2.800		02/14/32	1,689,388
	278,000		3.799		10/01/51	225,546
	95,000		2.950		03/10/52	65,021
	408,000		3.839		03/20/60	318,401
	646,000		3.799		04/06/71	487,783
United Parcel Service, Inc.
	292,000		3.050		11/15/27	277,815
	792,000		3.400		03/15/29	750,939
	570,000		3.750		11/15/47	472,500
	500,000		4.250		03/15/49	441,936
	448,000		5.300		04/01/50	468,111
						8,315,621
Wireless – 5.4%
American Tower Corp.
	250,000		4.000		06/01/25	243,293
	556,000		3.375		10/15/26	524,279
	200,000		2.750		01/15/27	183,873
	361,000		3.800		08/15/29	333,444
	80,000		2.900		01/15/30	69,405
	300,000		1.875		10/15/30	237,968
	251,000		3.100		06/15/50	160,789
AT&T, Inc.
	611,000		3.800		02/15/27	590,757
	346,000		4.250		03/01/27	339,645
	339,000		2.300		06/01/27	306,981
	75,000		1.650		02/01/28	64,961
	300,000		4.100		02/15/28	289,955
	912,000		4.350		03/01/29	885,946
	459,000		4.300		02/15/30	439,064
	389,000		2.750		06/01/31	328,371
	428,000		2.250		02/01/32	343,163
	630,000		2.550		12/01/33	494,048
	685,000		4.500		05/15/35	630,034
	140,000		4.850		03/01/39	129,036
	330,000		4.350		06/15/45	272,723
	435,000		4.750		05/15/46	378,467
	293,000		4.500		03/09/48	245,288
	225,000		4.550		03/09/49	188,865
	538,000		3.650		06/01/51	389,546
	130,000		3.300		02/01/52	89,940
	1,560,000		3.500		09/15/53	1,087,759

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Wireless – (continued)
AT&T, Inc. – (continued)
$	1,358,000		3.550	%	09/15/55	$       933,569
	530,000		3.800		12/01/57	375,591
	1,319,000		3.650		09/15/59	907,676
	92,000		3.850		06/01/60	65,326
Crown Castle, Inc.
	467,000		4.450		02/15/26	457,721
	506,000		3.700		06/15/26	484,615
	649,000		1.050		07/15/26	570,470
	98,000		3.650		09/01/27	92,263
	200,000		3.800		02/15/28	188,225
	220,000		3.300		07/01/30	194,153
	180,000		2.250		01/15/31	147,519
	301,000		2.100		04/01/31	242,656
	300,000		2.900		04/01/41	208,008
	100,000		3.250		01/15/51	66,630
Sprint Capital Corp.
	400,000		6.875		11/15/28	428,182
	600,000		8.750		03/15/32	728,250
T-Mobile USA, Inc.
	500,000		2.250		02/15/26	464,614
	800,000		3.750		04/15/27	759,162
	300,000		4.950		03/15/28	298,718
	100,000		2.625		02/15/29	87,399
	700,000		3.375		04/15/29	634,526
	900,000		3.875		04/15/30	833,918
	700,000		2.550		02/15/31	586,681
	300,000		2.875		02/15/31	255,869
	408,000		2.250		11/15/31	328,796
	408,000		2.700		03/15/32	338,920
	500,000		5.050		07/15/33	492,665
	700,000		4.375		04/15/40	613,662
	500,000		3.000		02/15/41	361,306
	600,000		4.500		04/15/50	510,057
	400,000		3.300		02/15/51	277,534
	500,000		5.750		01/15/54	509,572
	300,000		3.600		11/15/60	206,369
Verizon Communications, Inc.
	394,000		3.500		11/01/24	384,617
	184,000		3.376		02/15/25	179,110
	1,988,000		0.850		11/20/25	1,806,266
	559,000		4.125		03/16/27	548,055
	710,000		2.100		03/22/28	627,787
	722,000		4.329		09/21/28	701,374
	786,000		4.016		12/03/29	739,537
	471,000		3.150		03/22/30	420,511
	280,000		1.500		09/18/30	222,521

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Wireless – (continued)
Verizon Communications, Inc. – (continued)
$	100,000		1.680	%	10/30/30	$         79,335
	1,330,000		2.550		03/21/31	1,115,709
	50,000		2.355		03/15/32	40,407
	1,000,000		5.050		05/09/33	991,613
	220,000		4.272		01/15/36	198,090
	478,000		5.250		03/16/37	472,505
	550,000		2.650		11/20/40	376,365
	510,000		3.400		03/22/41	387,798
	60,000		6.550		09/15/43	65,806
	704,000		4.862		08/21/46	641,946
	455,000		4.522		09/15/48	391,776
	400,000		2.875		11/20/50	254,963
	800,000		3.550		03/22/51	582,924
	364,000		5.012		08/21/54	335,141
	150,000		2.987		10/30/56	92,795
	500,000		3.000		11/20/60	305,168
	555,000		3.700		03/22/61	397,322
						35,257,663
TOTAL CORPORATE OBLIGATIONS (Cost $588,954,350)						$523,225,029
Foreign Corporate Debt – 19.3%
Banks – 10.6%
Australia & New Zealand Banking Group Ltd. (Australia)
$	300,000		5.088	%	12/08/25	$       300,580
Banco Bilbao Vizcaya Argentaria SA (Spain)
	200,000		1.125		09/18/25	181,107
Banco Santander SA (Spain)
	200,000		2.706		06/27/24	193,513
	1,432,000		2.746		05/28/25	1,340,839
	800,000		5.179		11/19/25	785,294
	600,000		1.849		03/25/26	539,589
	600,000		4.250		04/11/27	572,844
(US 1 Year CMT T-Note + 0.900%)
	600,000		1.722	(a)	09/14/27	524,942
	325,000		3.490		05/28/30	284,648
(US 1 Year CMT T-Note + 1.600%)
	336,000		3.225	(a)	11/22/32	264,820
Bank of Montreal (Canada)
(5 Year USD Swap + 1.432%)
	341,000		3.803	(a)	12/15/32	303,864
(US 5 Year CMT T-Note + 1.400%)
	204,000		3.088	(a)	01/10/37	162,048
Bank of Montreal, MTN (Canada)
	230,000		0.625		07/09/24	218,280
	150,000		1.500		01/10/25	141,234

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Bank of Montreal, MTN (Canada) – (continued)
$	75,000		1.250	%	09/15/26	$         66,215
(SOFR + 0.603%)
	40,000		0.949	(a)	01/22/27	35,875
	264,000		2.650		03/08/27	242,062
Bank of Nova Scotia (The) (Canada)
	224,000		0.700		04/15/24	214,298
	75,000		0.650		07/31/24	70,820
	198,000		1.300		06/11/25	182,568
	626,000		4.500		12/16/25	609,920
	220,000		2.700		08/03/26	204,428
	80,000		1.950		02/02/27	72,050
	530,000		2.450		02/02/32	436,965
Barclays PLC (United Kingdom)
	1,140,000		3.650		03/16/25	1,096,243
	1,035,000		4.375		01/12/26	1,000,515
(SOFR + 2.714%)
	200,000		2.852	(a)	05/07/26	188,272
	210,000		5.200		05/12/26	203,996
	850,000		4.836		05/09/28	787,553
(US 1 Year CMT T-Note + 1.200%)
	424,000		2.667	(a)	03/10/32	336,402
(SOFR + 2.980%)
	1,000,000		6.224	(a)	05/09/34	1,012,042
(US 5 Year CMT T-Note + 2.900%)
	960,000		3.564	(a)	09/23/35	761,091
(US 1 Year CMT T-Note + 1.700%)
	500,000		3.811	(a)	03/10/42	358,887
	330,000		5.250		08/17/45	304,222
	436,000		4.950		01/10/47	382,855
Canadian Imperial Bank of Commerce (Canada)
	258,000		3.100		04/02/24	252,638
	110,000		2.250		01/28/25	104,439
	300,000		1.250		06/22/26	267,118
	150,000		3.600		04/07/32	135,299
Cooperatieve Rabobank UA (Netherlands)
	1,105,000		3.750		07/21/26	1,037,686
	186,000		5.250		05/24/41	192,912
	250,000		5.750		12/01/43	248,358
	485,000		5.250		08/04/45	453,026
Credit Suisse AG (Switzerland)
	750,000		7.950		01/09/25	759,375
	1,210,000		2.950		04/09/25	1,134,375
	1,350,000		1.250		08/07/26	1,157,625
Credit Suisse Group AG (Switzerland)
	660,000		3.750		03/26/25	622,875

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Credit Suisse Group AG (Switzerland) – (continued)
$	250,000		4.550	%	04/17/26	$       235,625
(SOFR + 3.730%)
	621,000		4.194	(a)(b)	04/01/31	548,033
	300,000		4.875		05/15/45	253,500
Deutsche Bank AG (Germany)
	130,000		3.700		05/30/24	126,180
(SOFR + 1.131%)
	200,000		1.447	(a)	04/01/25	189,184
(SOFR + 2.581%)
	800,000		3.961	(a)	11/26/25	761,416
(SOFR + 1.870%)
	1,000,000		2.129	(a)	11/24/26	887,169
(SOFR + 1.219%)
	1,694,000		2.311	(a)	11/16/27	1,462,103
(SOFR + 1.318%)
	1,702,000		2.552	(a)	01/07/28	1,485,300
(SOFR + 3.180%)
	800,000		6.720	(a)	01/18/29	802,848
(SOFR + 3.043%)
	260,000		3.547	(a)	09/18/31	216,581
(SOFR + 1.718%)
	370,000		3.035	(a)	05/28/32	294,020
ING Groep NV (Netherlands)
	300,000		3.550		04/09/24	294,854
(SOFR + 1.640%)
	260,000		3.869	(a)	03/28/26	251,499
	200,000		3.950		03/29/27	191,028
(SOFR + 1.005%)
	800,000		1.726	(a)	04/01/27	718,200
(SOFR + 1.830%)
	500,000		4.017	(a)	03/28/28	472,486
	490,000		4.550		10/02/28	474,524
	330,000		4.050		04/09/29	311,444
(SOFR + 1.316%)
	690,000		2.727	(a)	04/01/32	573,131
Lloyds Banking Group PLC (United Kingdom)
	940,000		4.450		05/08/25	916,911
(US 1 Year CMT T-Note + 3.500%)
	300,000		3.870	(a)	07/09/25	292,386
	400,000		4.582		12/10/25	385,250
	1,500,000		3.750		01/11/27	1,419,277
	940,000		4.375		03/22/28	905,939
(3M USD LIBOR + 1.205%)
	1,220,000		3.574	(a)	11/07/28	1,118,941
	200,000		5.300		12/01/45	172,148

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Lloyds Banking Group PLC (United Kingdom) – (continued)
$	490,000		4.344	%	01/09/48	$       368,873
Mitsubishi UFJ Financial Group, Inc. (Japan)
	290,000		2.193		02/25/25	273,810
(US 1 Year CMT T-Note + 1.080%)
	260,000		5.719	(a)	02/20/26	260,434
(US 1 Year CMT T-Note + 0.830%)
	1,300,000		2.341	(a)	01/19/28	1,166,300
	290,000		3.961		03/02/28	276,909
(US 1 Year CMT T-Note + 1.950%)
	800,000		5.017	(a)	07/20/28	792,362
(US 1 Year CMT T-Note + 1.900%)
	300,000		5.354	(a)	09/13/28	300,594
(US 1 Year CMT T-Note + 1.380%)
	1,800,000		5.422	(a)	02/22/29	1,803,588
	250,000		3.741		03/07/29	232,798
(US 1 Year CMT T-Note + 1.100%)
	300,000		2.852	(a)	01/19/33	249,049
(US 1 Year CMT T-Note + 1.630%)
	1,000,000		5.441	(a)	02/22/34	1,007,403
Mizuho Financial Group, Inc. (Japan)
	490,000		2.839		09/13/26	453,344
(US 1 Year CMT T-Note + 0.670%)
	500,000		1.234	(a)	05/22/27	441,144
(3M U.S. T-Bill MMY + 1.532%)
	800,000		4.254	(a)	09/11/29	757,067
	300,000		2.564		09/13/31	237,471
National Australia Bank Ltd. (Australia)
	940,000		2.500		07/12/26	878,061
NatWest Group PLC (United Kingdom)
(3M USD LIBOR + 1.762%)
	665,000		4.269	(a)	03/22/25	653,660
	846,000		4.800		04/05/26	832,942
(US 1 Year CMT T-Note + 2.550%)
	355,000		3.073	(a)	05/22/28	322,486
(3M USD LIBOR + 1.754%)
	345,000		4.892	(a)	05/18/29	333,220
(US 5 Year CMT T-Note + 2.100%)
	748,000		3.754	(a)	11/01/29	706,599
(3M USD LIBOR + 1.905%)
	470,000		5.076	(a)	01/27/30	455,606
(3M USD LIBOR + 1.871%)
	370,000		4.445	(a)	05/08/30	346,715
(US 5 Year CMT T-Note + 2.350%)
	420,000		3.032	(a)	11/28/35	325,542

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Royal Bank of Canada (Canada)
$	130,000		1.200	%	04/27/26	$       116,713
	800,000		3.625		05/04/27	762,380
Royal Bank of Canada, GMTN (Canada)
	500,000		2.250		11/01/24	478,481
	50,000		0.875		01/20/26	45,073
	308,000		4.650		01/27/26	302,259
	264,000		1.400		11/02/26	234,392
	500,000		4.240		08/03/27	485,944
	250,000		2.300		11/03/31	203,432
	300,000		5.000		02/01/33	294,912
Royal Bank of Canada, MTN (Canada)
	257,000		1.150		06/10/25	237,001
Santander UK Group Holdings PLC (United Kingdom)
(SOFR + 0.787%)
	200,000		1.089	(a)	03/15/25	190,913
(SOFR + 2.749%)
	870,000		6.833	(a)	11/21/26	880,020
(SOFR + 0.989%)
	1,790,000		1.673	(a)	06/14/27	1,552,636
(3M USD LIBOR + 1.400%)
	800,000		3.823	(a)	11/03/28	728,316
Sumitomo Mitsui Financial Group, Inc. (Japan)
	500,000		2.696		07/16/24	483,908
	300,000		1.474		07/08/25	276,189
	400,000		3.784		03/09/26	385,097
	664,000		3.364		07/12/27	624,950
	200,000		5.520		01/13/28	203,241
	290,000		3.544		01/17/28	271,051
	1,000,000		3.040		07/16/29	882,822
	490,000		2.750		01/15/30	425,665
	500,000		2.130		07/08/30	410,150
	500,000		2.222		09/17/31	401,128
	500,000		5.766		01/13/33	520,475
Toronto-Dominion Bank (The) (Canada)
	50,000		1.950		01/12/27	44,888
	290,000		4.108		06/08/27	278,898
(5 Year USD Swap + 2.205%)
	338,000		3.625	(a)	09/15/31	315,255
Toronto-Dominion Bank (The), MTN (Canada)
	830,000		2.650		06/12/24	805,568
	270,000		1.150		06/12/25	248,656
	643,000		0.750		01/06/26	575,492
	330,000		1.250		09/10/26	291,297
	440,000		2.800		03/10/27	404,926
	340,000		2.000		09/10/31	269,466

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Toronto-Dominion Bank (The), MTN (Canada) – (continued)
$	481,000		3.200	%	03/10/32	$       415,499
Westpac Banking Corp. (Australia)
	1,000,000		5.350		10/18/24	1,004,146
	112,000		1.019		11/18/24	105,698
	40,000		2.350		02/19/25	38,370
	200,000		2.850		05/13/26	189,928
	550,000		1.150		06/03/26	494,470
	40,000		3.350		03/08/27	38,029
	350,000		5.457		11/18/27	358,950
	40,000		3.400		01/25/28	38,028
	247,000		2.650		01/16/30	217,992
(US 5 Year CMT T-Note + 1.350%)
	1,126,000		2.894	(a)	02/04/30	1,050,086
	400,000		2.150		06/03/31	334,106
(US 5 Year CMT T-Note + 2.000%)
	400,000		4.110	(a)	07/24/34	353,934
(US 5 Year CMT T-Note + 1.750%)
	300,000		2.668	(a)	11/15/35	230,323
	186,000		4.421		07/24/39	153,774
	100,000		2.963		11/16/40	66,464
Westpac Banking Corp.(a), GMTN (Australia)
(5 Year USD Swap + 2.236%)
	146,000		4.322		11/23/31	136,490
						69,840,442
Beverages – 0.0%
Coca-Cola Femsa SAB de CV (Mexico)
	280,000		2.750		01/22/30	248,865
Brokerage – 0.4%
Brookfield Finance, Inc. (Canada)
	814,000		3.900		01/25/28	761,978
	120,000		4.850		03/29/29	116,000
	425,000		4.350		04/15/30	395,320
	237,000		4.700		09/20/47	197,120
Nomura Holdings, Inc. (Japan)
	300,000		2.679		07/16/30	245,560
	550,000		2.608		07/14/31	437,043
	780,000		2.999		01/22/32	633,699
						2,786,720
Consumer Cyclical – 0.0%
Honda Motor Co., Ltd. (Japan)
	300,000		2.967		03/10/32	266,795
Toyota Motor Corp. (Japan)
	80,000		1.339		03/25/26	73,121
						339,916

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Consumer Noncyclical – 1.2%
AstraZeneca PLC (United Kingdom)
$	400,000		6.450	%	09/15/37	$       462,467
BAT Capital Corp. (United Kingdom)
	150,000		3.222		08/15/24	145,658
	634,000		3.215		09/06/26	592,515
	352,000		4.700		04/02/27	343,356
	792,000		3.557		08/15/27	725,740
	330,000		2.259		03/25/28	284,086
	410,000		2.726		03/25/31	326,736
	524,000		4.390		08/15/37	415,095
	353,000		4.540		08/15/47	252,413
	204,000		4.758		09/06/49	151,046
	318,000		3.984		09/25/50	209,336
BAT International Finance PLC (United Kingdom)
	259,000		1.668		03/25/26	232,935
	1,346,000		4.448		03/16/28	1,273,653
GlaxoSmithKline Capital, Inc. (United Kingdom)
	910,000		3.875		05/15/28	885,894
	511,000		6.375		05/15/38	585,123
Reynolds American, Inc. (United Kingdom)
	500,000		5.700		08/15/35	467,961
	324,000		5.850		08/15/45	284,358
						7,638,372
Consumer Products – 0.2%
Unilever Capital Corp. (United Kingdom)
	100,000		2.900		05/05/27	94,763
	500,000		3.500		03/22/28	482,523
	500,000		2.125		09/06/29	438,258
	132,000		5.900		11/15/32	145,348
						1,160,892
Energy – 1.8%
BP Capital Markets PLC (United Kingdom)
	764,000		3.279		09/19/27	728,522
	168,000		3.723		11/28/28	161,065
(US 5 Year CMT T-Note + 4.036%)
	400,000		4.375	(a)	09/22/71	385,500
(US 5 Year CMT T-Note + 4.398%)
	400,000		4.875	(a)	12/22/71	367,500
Canadian Natural Resources Ltd. (Canada)
	513,000		3.850		06/01/27	487,290
Canadian Natural Resources Ltd., GMTN (Canada)
	214,000		4.950		06/01/47	186,956
Cenovus Energy, Inc. (Canada)
	172,000		6.750		11/15/39	180,777
	322,000		5.400		06/15/47	288,115

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Energy – (continued)
Enbridge, Inc. (Canada)
$	484,000		3.125	%	11/15/29	$       433,283
	400,000		2.500		08/01/33	312,895
(3M USD LIBOR + 3.641%)
	570,000		6.250	(a)	03/01/78	522,975
Equinor ASA (Norway)
	70,000		3.700		03/01/24	68,971
	460,000		2.875		04/06/25	444,835
	200,000		1.750		01/22/26	186,019
	204,000		3.125		04/06/30	187,415
	100,000		2.375		05/22/30	87,274
	430,000		3.950		05/15/43	366,197
	114,000		3.250		11/18/49	84,218
	250,000		3.700		04/06/50	201,911
Shell International Finance BV (Netherlands)
	662,000		2.000		11/07/24	636,834
	682,000		3.250		05/11/25	664,540
	330,000		2.875		05/10/26	316,234
	130,000		2.500		09/12/26	122,149
	352,000		3.875		11/13/28	343,776
	240,000		2.375		11/07/29	211,444
	300,000		2.750		04/06/30	268,100
	328,000		4.125		05/11/35	304,676
	521,000		6.375		12/15/38	581,394
	352,000		4.375		05/11/45	312,622
	306,000		4.000		05/10/46	255,445
	230,000		3.750		09/12/46	185,273
	282,000		3.125		11/07/49	202,750
	300,000		3.000		11/26/51	207,645
Suncor Energy, Inc. (Canada)
	80,000		6.800		05/15/38	84,954
	264,000		4.000		11/15/47	201,663
	100,000		3.750		03/04/51	72,608
TotalEnergies Capital International SA (France)
	184,000		3.750		04/10/24	181,258
	192,000		2.829		01/10/30	173,038
	231,000		2.986		06/29/41	175,166
	370,000		3.461		07/12/49	283,417
	220,000		3.386		06/29/60	158,042
TotalEnergies Capital SA (France)
	344,000		3.883		10/11/28	335,666
						11,960,412
Financial Company – 0.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland)
	500,000		3.500		01/15/25	478,584
	450,000		6.500		07/15/25	453,356

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Financial Company – (continued)
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) – (continued)
$	952,000		2.450	%	10/29/26	$       848,320
	300,000		3.000		10/29/28	259,610
	432,000		3.300		01/30/32	350,883
	300,000		3.400		10/29/33	238,287
	480,000		3.850		10/29/41	361,713
						2,990,753
Food and Beverage – 1.7%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium)
	458,000		3.650		02/01/26	446,260
	1,630,000		4.700		02/01/36	1,596,670
	2,466,000		4.900		02/01/46	2,343,692
Anheuser-Busch InBev Finance, Inc. (Belgium)
	1,026,000		4.625		02/01/44	952,814
	600,000		4.900		02/01/46	571,156
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
	536,000		4.000		04/13/28	524,622
	628,000		4.750		01/23/29	632,843
	281,000		4.900		01/23/31	289,237
	293,000		4.375		04/15/38	274,913
	340,000		5.450		01/23/39	353,533
	100,000		4.350		06/01/40	91,819
	244,000		4.950		01/15/42	236,153
	299,000		4.600		04/15/48	274,594
	146,000		4.439		10/06/48	131,268
	632,000		5.550		01/23/49	662,604
	280,000		4.500		06/01/50	253,117
	214,000		4.750		04/15/58	197,571
	262,000		5.800		01/23/59	283,281
Diageo Capital PLC (United Kingdom)
	200,000		1.375		09/29/25	185,205
	700,000		2.375		10/24/29	612,795
						10,914,147
Forest Products & Paper – 0.1%
Suzano Austria GmbH (Brazil)
	450,000		3.750		01/15/31	382,598
Insurance – 0.1%
Manulife Financial Corp. (Canada)
	600,000		3.703		03/16/32	549,820
	186,000		5.375		03/04/46	182,665
						732,485
Internet – 0.5%
Alibaba Group Holding Ltd. (China)
	760,000		3.600		11/28/24	740,535

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Internet – (continued)
Alibaba Group Holding Ltd. (China) – (continued)
$	744,000		3.400	%	12/06/27	$       697,181
	560,000		2.125		02/09/31	460,997
	400,000		4.000		12/06/37	340,003
	550,000		4.200		12/06/47	435,415
	300,000		3.150		02/09/51	194,572
	200,000		4.400		12/06/57	157,973
						3,026,676
Lodging – 0.2%
Sands China Ltd. (Macau)
	290,000		5.625		08/08/25	282,025
	500,000		4.300		01/08/26	468,125
	490,000		5.900		08/08/28	463,050
						1,213,200
Metals and Mining – 0.2%
BHP Billiton Finance USA Ltd. (Australia)
	351,000		4.125		02/24/42	311,222
	274,000		5.000		09/30/43	267,721
Rio Tinto Finance USA Ltd. (Australia)
	80,000		7.125		07/15/28	89,188
	306,000		5.200		11/02/40	306,553
Rio Tinto Finance USA PLC (Australia)
	80,000		4.125		08/21/42	69,975
						1,044,659
Mining – 0.3%
Southern Copper Corp. (Mexico)
	941,000		7.500		07/27/35	1,072,830
	242,000		6.750		04/16/40	259,645
	166,000		5.250		11/08/42	156,258
	306,000		5.875		04/23/45	310,504
						1,799,237
Oil Company-Exploration & Production – 0.0%
CNOOC Finance 2015 USA LLC (China)
	200,000		4.375		05/02/28	199,023
Oil Company-Integrated – 0.2%
Ecopetrol SA (Colombia)
	150,000		4.125		01/16/25	144,187
	200,000		5.375		06/26/26	190,625
	598,000		6.875		04/29/30	534,463
	178,000		7.375		09/18/43	142,845
	400,000		5.875		05/28/45	262,000
						1,274,120
Pharmaceuticals – 0.0%
Astrazeneca Finance LLC (United Kingdom)
	300,000		2.250		05/28/31	255,361

GOLDMAN SACHS ACCESS INVESTMENT GRADE CORPORATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Semiconductors – 0.2%
TSMC Arizona Corp. (Taiwan)
$	260,000		1.750	%	10/25/26	$       233,859
	300,000		2.500		10/25/31	253,368
	720,000		3.250		10/25/51	543,704
						1,030,931
Technology – 0.2%
NXP BV / NXP Funding LLC (China)
	192,000		4.875		03/01/24	190,633
NXP BV / NXP Funding LLC / NXP USA, Inc. (China)
	226,000		3.400		05/01/30	200,945
	263,000		2.500		05/11/31	215,192
	289,000		2.650		02/15/32	233,709
	300,000		5.000		01/15/33	289,369
						1,129,848
Telecommunications – 0.2%
America Movil SAB de CV (Mexico)
	300,000		3.625		04/22/29	275,969
	266,000		2.875		05/07/30	231,547
	640,000		6.125		03/30/40	682,398
	470,000		4.375		04/22/49	408,523
						1,598,437
Transportation – 0.0%
Canadian Pacific Railway Co. (Canada)
	400,000		3.100		12/02/51	277,771
Wireless – 0.4%
Rogers Communications, Inc. (Canada)
	594,000		4.300		02/15/48	459,016
	500,000		4.350		05/01/49	389,488
	500,000		3.700		11/15/49	349,955
Vodafone Group PLC (United Kingdom)
	150,000		4.125		05/30/25	147,257
	419,000		6.150		02/27/37	436,374
	50,000		4.375		02/19/43	41,319
	450,000		4.875		06/19/49	388,825
	330,000		4.250		09/17/50	260,841
						2,473,075
Wirelines – 0.3%
Deutsche Telekom International Finance BV (Germany)
	650,000		8.750		06/15/30	783,312
Orange SA (France)
	800,000		9.000		03/01/31	999,596
	100,000		5.375		01/13/42	100,035

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Wirelines – (continued)
Telefonica Emisiones SA (Spain)
$	500,000		4.895	%	03/06/48	$       404,235
						2,287,178
TOTAL FOREIGN CORPORATE DEBT (Cost $138,708,836)						$126,605,118
Shares		Dividend Rate				Value
Investment Company – 0.3%(d)
Goldman Sachs Financial Square Government Fund – Institutional Shares
	1,993,891		5.003%			$    1,993,891
(Cost $1,993,891)
TOTAL INVESTMENTS – 99.1% (Cost $729,657,077)						$651,824,038
OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.9%						6,178,052
NET ASSETS – 100.0%						$658,002,090

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Variable rate security. Interest rate or distribution rate disclosed is that which is in effect on May 31, 2023.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Issued with a zero coupon. Income is recognized through the accretion of discount.
(d)	Represents an affiliated issuer.

Investment Abbreviations:
CMT	— Constant Maturity Treasury Index
GMTN	— Global Medium Term Note
LIBOR	— London Interbank Offered Rate
LP	— Limited Partnership
MTN	— Medium Term Note
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust
SOFR	— Secured Overnight Financing Rate
SOFRINDX	— Secured Overnight Financing Rate Index

GOLDMAN SACHS ACCESS TREASURY 0-1 YEAR ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – 92.9%
U.S. Treasury Bills
$	488,960,000		4.933	%	07/05/23	$   486,724,749
	170,469,900		4.964		07/05/23	169,690,607
	2,620,000		4.969		07/05/23	2,608,023
	9,818,000		4.971		07/05/23	9,773,118
	24,327,800		4.997		07/06/23	24,212,468
	39,500,000		5.000		07/06/23	39,312,740
	80,000,000		5.005		07/06/23	79,620,740
	392,869,500		5.007		07/06/23	391,007,002
	872,000		5.009		07/06/23	867,866
	9,736,400		3.442		08/10/23	9,639,236
	198,000		3.485		08/10/23	196,024
	126,000		3.516		08/10/23	124,743
	576,000		3.522		08/10/23	570,252
	702,000		3.560		08/10/23	694,994
	95,220,200		3.778		08/10/23	94,269,952
	129,000		4.514		08/10/23	127,713
	1,892,000		4.527		08/10/23	1,873,119
	774,000		4.538		08/10/23	766,276
	430,000		4.555		08/10/23	425,709
	1,677,000		4.559		08/10/23	1,660,264
	817,000		4.562		08/10/23	808,847
	559,000		4.568		08/10/23	553,421
	1,333,000		4.571		08/10/23	1,319,697
	3,440,000		4.582		08/10/23	3,405,671
	25,542,000		4.586		08/10/23	25,287,104
	1,720,000		4.594		08/10/23	1,702,835
	1,161,000		4.601		08/10/23	1,149,414
	215,000		4.606		08/10/23	212,854
	774,000		4.611		08/10/23	766,276
	387,000		4.615		08/10/23	383,138
	1,118,000		4.616		08/10/23	1,106,843
	430,000		4.617		08/10/23	425,709
	896,000		4.622		08/10/23	887,058
	301,000		4.624		08/10/23	297,996
	258,000		4.637		08/10/23	255,425
	903,000		4.640		08/10/23	893,989
	43,000		4.644		08/10/23	42,571
	946,000		4.661		08/10/23	936,559
	258,000		4.672		08/10/23	255,425
	86,000		4.721		08/10/23	85,142
	301,000		4.730		08/10/23	297,996
	946,000		4.737		08/10/23	936,559
	4,644,000		4.750		08/10/23	4,597,655
	172,000		4.762		08/10/23	170,284
	1,849,000		4.763		08/10/23	1,830,548
	521,000		4.776		08/10/23	515,801
	344,000		4.790		08/10/23	340,567

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – (continued)
U.S. Treasury Bills – (continued)
$	172,000		4.796	%	08/10/23	$          170,284
	1,075,000		4.824		08/10/23	1,064,272
	6,622,000		4.870		08/10/23	6,555,916
	2,494,000		4.885		08/10/23	2,469,111
	301,000		4.893		08/10/23	297,996
	559,000		4.896		08/10/23	553,421
	473,000		4.899		08/10/23	468,280
	5,160,000		4.904		08/10/23	5,108,506
	301,000		4.917		08/10/23	297,996
	1,591,000		4.922		08/10/23	1,575,123
	2,881,000		4.927		08/10/23	2,852,249
	473,000		4.947		08/10/23	468,280
	1,487,000		4.950		08/10/23	1,472,161
	495,000		4.964		08/10/23	490,060
	3,913,000		4.975		08/10/23	3,873,950
	645,000		4.979		08/10/23	638,563
	946,000		4.980		08/10/23	936,559
	645,000		4.981		08/10/23	638,563
	476,935,100		4.987		08/10/23	472,175,536
	172,000		4.988		08/10/23	170,284
	903,000		5.004		08/10/23	893,989
	21,543,000		5.005		08/10/23	21,328,012
	1,333,000		5.006		08/10/23	1,319,697
	172,000		5.007		08/10/23	170,284
	1,200,000		5.022		08/10/23	1,188,025
	688,000		5.026		08/10/23	681,134
	903,000		5.027		08/10/23	893,989
	344,000		5.060		08/10/23	340,567
	860,000		5.100		08/10/23	851,418
	559,000		5.127		08/10/23	553,421
	2,527,000		5.128		08/10/23	2,501,782
	64,000		5.137		08/10/23	63,361
	1,064,000		5.140		08/10/23	1,053,382
	688,000		5.145		08/10/23	681,134
	1,330,000		5.162		08/10/23	1,316,727
	3,724,000		5.201		08/10/23	3,686,836
	798,000		5.204		08/10/23	790,036
	1,596,000		5.211		08/10/23	1,580,073
	170,000,000		4.974		08/24/23	167,959,991
	110,800,000		5.000		08/24/23	109,470,394
	92,249,000		5.046		08/24/23	91,142,007
	568,000		5.098		08/24/23	561,184
	710,000		5.127		08/24/23	701,480
	1,349,000		5.138		08/24/23	1,332,812
	1,988,000		5.158		08/24/23	1,964,144
	852,000		5.190		08/24/23	841,776
	744,000		5.024		09/05/23	733,969

GOLDMAN SACHS ACCESS TREASURY 0-1 YEAR ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – (continued)
U.S. Treasury Bills – (continued)
$	80,710,600		5.035	%	09/05/23	$     79,622,383
	1,767,000		5.043		09/05/23	1,743,176
	930,000		5.063		09/05/23	917,461
	488,515,000		5.165		09/05/23	481,928,374
	396,000		4.456		10/05/23	388,767
	126,000		4.458		10/05/23	123,699
	774,000		4.476		10/05/23	759,862
	450,000		4.483		10/05/23	441,780
	126,000		4.531		10/05/23	123,699
	558,000		4.544		10/05/23	547,808
	720,000		4.568		10/05/23	706,849
	648,000		4.575		10/05/23	636,164
	162,000		4.584		10/05/23	159,041
	108,000		4.587		10/05/23	106,027
	1,044,000		4.588		10/05/23	1,024,931
	180,000		4.589		10/05/23	176,712
	90,000		4.595		10/05/23	88,356
	1,080,000		4.597		10/05/23	1,060,273
	702,000		4.601		10/05/23	689,177
	234,000		4.605		10/05/23	229,726
	72,000		4.618		10/05/23	70,685
	10,692,000		4.620		10/05/23	10,496,704
	1,440,000		4.626		10/05/23	1,413,697
	54,000		4.628		10/05/23	53,014
	324,000		4.630		10/05/23	318,082
	108,000		4.631		10/05/23	106,027
	72,000		4.634		10/05/23	70,685
	18,000		4.635		10/05/23	17,671
	324,000		4.645		10/05/23	318,082
	468,000		4.648		10/05/23	459,452
	216,000		4.652		10/05/23	212,055
	378,000		4.653		10/05/23	371,096
	378,000		4.658		10/05/23	371,096
	36,517,800		4.660		10/05/23	35,850,779
	36,000		4.662		10/05/23	35,342
	92,000		4.663		10/05/23	90,320
	342,000		4.668		10/05/23	335,753
	252,000		4.675		10/05/23	247,397
	180,000		4.683		10/05/23	176,712
	1,944,000		4.684		10/05/23	1,908,492
	468,000		4.690		10/05/23	459,452
	486,000		4.694		10/05/23	477,123
	126,000		4.696		10/05/23	123,699
	108,000		4.713		10/05/23	106,027
	378,000		4.717		10/05/23	371,096
	368,000		4.721		10/05/23	361,278
	90,000		4.724		10/05/23	88,356

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – (continued)
U.S. Treasury Bills – (continued)
$	306,000		4.728	%	10/05/23	$          300,411
	144,000		4.729		10/05/23	141,370
	828,000		4.731		10/05/23	812,876
	108,000		4.744		10/05/23	106,027
	144,000		4.756		10/05/23	141,370
	72,000		4.767		10/05/23	70,685
	198,000		4.795		10/05/23	194,383
	2,160,000		4.801		10/05/23	2,120,546
	2,772,000		4.802		10/05/23	2,721,368
	666,000		4.811		10/05/23	653,835
	460,000		4.837		10/05/23	451,598
	630,000		4.838		10/05/23	618,493
	126,000		4.850		10/05/23	123,699
	270,000		4.872		10/05/23	265,068
	207,000		4.880		10/05/23	203,219
	72,000		4.887		10/05/23	70,685
	126,000		4.900		10/05/23	123,699
	198,000		4.905		10/05/23	194,383
	558,000		4.910		10/05/23	547,808
	378,000		4.924		10/05/23	371,096
	900,000		4.927		10/05/23	883,561
	1,296,000		4.938		10/05/23	1,272,328
	270,000		4.942		10/05/23	265,068
	306,000		4.943		10/05/23	300,411
	9,396,000		4.961		10/05/23	9,224,376
	162,000		4.967		10/05/23	159,041
	500,000		4.970		10/05/23	490,867
	407,813,900		4.983		10/05/23	400,364,914
	342,000		4.988		10/05/23	335,753
	564,000		4.989		10/05/23	553,698
	72,000		4.994		10/05/23	70,685
	288,000		5.000		10/05/23	282,739
	2,632,000		5.005		10/05/23	2,583,925
	144,000		5.025		10/05/23	141,370
	752,000		5.027		10/05/23	738,264
	1,128,000		5.032		10/05/23	1,107,396
	360,000		5.044		10/05/23	353,424
	752,000		5.088		10/05/23	738,264
	940,000		5.093		10/05/23	922,830
	234,000		5.095		10/05/23	229,726
	288,000		5.121		10/05/23	282,739
	1,786,000		5.131		10/05/23	1,753,378
	94,787,900		5.360		10/05/23	93,056,537
	145,370,900		4.668		11/02/23	142,128,643
	20,476,000		4.711		11/02/23	20,019,317
	432,000		4.766		11/02/23	422,365
	1,998,000		4.837		11/02/23	1,953,438

GOLDMAN SACHS ACCESS TREASURY 0-1 YEAR ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – (continued)
U.S. Treasury Bills – (continued)
$	6,480,000		4.842	%	11/02/23	$       6,335,474
	702,000		4.849		11/02/23	686,343
	2,120,000		4.860		11/02/23	2,072,717
	378,000		4.880		11/02/23	369,569
	56,856,800		4.891		11/02/23	55,588,703
	378,000		4.914		11/02/23	369,569
	630,000		4.932		11/02/23	615,949
	1,140,000		4.940		11/02/23	1,114,574
	1,672,000		4.941		11/02/23	1,634,709
	2,700,000		4.942		11/02/23	2,639,781
	1,400,000		4.948		11/02/23	1,368,775
	594,000		4.952		11/02/23	580,752
	810,000		4.954		11/02/23	791,934
	918,000		4.966		11/02/23	897,526
	318,000		4.970		11/02/23	310,908
	486,000		4.980		11/02/23	475,161
	1,026,000		5.007		11/02/23	1,003,117
	4,312,000		5.022		11/02/23	4,215,828
	1,484,000		5.035		11/02/23	1,450,902
	27,054,000		5.042		11/02/23	26,450,605
	636,000		5.043		11/02/23	621,815
	424,000		5.097		11/02/23	414,543
	530,000		5.115		11/02/23	518,179
	1,216,000		5.146		11/02/23	1,188,879
	1,007,000		5.153		11/02/23	984,541
	126,871,600		5.404		11/02/23	124,041,940
	292,300		4.437		01/25/24	283,037
	10,164,000		4.452		01/25/24	9,841,909
	726,000		4.514		01/25/24	702,993
	3,828,000		4.549		01/25/24	3,706,693
	462,000		4.578		01/25/24	447,359
	264,000		4.602		01/25/24	255,634
	336,000		4.624		01/25/24	325,352
	1,650,000		4.661		01/25/24	1,597,713
	121,321,300		4.755		01/25/24	117,476,703
	296,000		4.819		01/25/24	286,620
	1,056,000		4.897		01/25/24	1,022,536
	528,000		4.912		01/25/24	511,268
	481,000		4.916		01/25/24	465,757
	432,000		4.948		01/25/24	418,310
	990,000		4.964		01/25/24	958,628
	960,000		4.976		01/25/24	929,578
	264,000		4.979		01/25/24	255,634
	555,000		5.000		01/25/24	537,412
	159,569,400		5.003		01/25/24	154,512,744
	1,452,000		5.004		01/25/24	1,405,987
	407,000		5.014		01/25/24	394,102

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Bills – (continued)
U.S. Treasury Bills – (continued)
$	1,386,000		5.017	%	01/25/24	$       1,342,079
	333,000		5.032		01/25/24	322,447
	2,664,000		5.052		01/25/24	2,579,579
	703,000		5.064		01/25/24	680,722
	18,537,000		5.067		01/25/24	17,949,574
	858,000		5.130		01/25/24	830,811
	1,056,000		5.171		01/25/24	1,022,536
	3,850,000		4.483		02/22/24	3,712,924
	275,000		4.536		02/22/24	265,209
	1,450,000		4.541		02/22/24	1,398,374
	625,000		4.630		02/22/24	602,747
	140,308,700		4.670		02/22/24	135,313,145
	400,000		4.938		02/22/24	385,758
	200,000		4.952		02/22/24	192,879
	100,000		5.059		02/22/24	96,440
	375,000		5.063		02/22/24	361,648
	525,000		5.087		02/22/24	506,308
	550,000		5.089		02/22/24	530,418
	100,706,600		5.107		02/22/24	97,121,039
	325,000		5.207		02/22/24	313,429
	105,844,500		4.657		03/21/24	101,592,528
	651,000		4.688		03/21/24	624,848
	84,000		4.820		03/21/24	80,626
	420,000		4.834		03/21/24	403,128
	115,144,800		4.862		03/21/24	110,519,217
	580,000		4.906		03/21/24	556,700
	352,000		4.943		03/21/24	337,859
	108,000		4.676		04/18/24	103,243
	216,000		4.761		04/18/24	206,486
	180,000		4.787		04/18/24	172,072
	144,000		4.794		04/18/24	137,658
	342,000		4.798		04/18/24	326,937
	93,359,800		4.828		04/18/24	89,247,764
	504,000		4.851		04/18/24	481,801
	199,065,500		5.260		04/18/24	190,297,653
	84,318,500		5.259		05/16/24	80,303,116
TOTAL U.S. TREASURY BILLS (Cost $4,975,801,218)						$4,971,760,290
U.S. Treasury Notes – 7.1%
U.S. Treasury Notes
$	868,000		4.544	%	09/15/23	$          854,946
	69,813,900		4.546		09/15/23	68,763,964
	3,024,000		4.547		09/15/23	2,978,522
	2,240,000		4.549		09/15/23	2,206,313
	1,092,000		4.580		09/15/23	1,075,577
	1,232,000		4.581		09/15/23	1,213,472

GOLDMAN SACHS ACCESS TREASURY 0-1 YEAR ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Notes – (continued)
U.S. Treasury Notes – (continued)
$	504,000		4.591	%	09/15/23	$          496,420
	84,000		4.604		09/15/23	82,737
	112,000		4.613		09/15/23	110,316
	280,000		4.623		09/15/23	275,789
	1,120,000		4.625		09/15/23	1,103,156
	1,044,000		4.629		09/15/23	1,028,299
	252,000		4.642		09/15/23	248,210
	504,000		4.650		09/15/23	496,420
	196,000		4.656		09/15/23	193,052
	616,000		4.668		09/15/23	606,736
	588,000		4.678		09/15/23	579,157
	168,000		4.679		09/15/23	165,473
	280,000		4.682		09/15/23	275,789
	532,000		4.685		09/15/23	523,999
	174,000		4.689		09/15/23	171,383
	1,204,000		4.690		09/15/23	1,185,893
	348,000		4.695		09/15/23	342,766
	112,000		4.709		09/15/23	110,316
	756,000		4.711		09/15/23	744,630
	28,000		4.717		09/15/23	27,579
	196,000		4.723		09/15/23	193,052
	1,092,000		4.725		09/15/23	1,075,577
	168,000		4.728		09/15/23	165,473
	144,000		4.732		09/15/23	141,834
	196,000		4.734		09/15/23	193,052
	16,772,000		4.736		09/15/23	16,519,765
	168,000		4.740		09/15/23	165,473
	448,000		4.747		09/15/23	441,263
	406,000		4.753		09/15/23	399,894
	1,334,000		4.757		09/15/23	1,313,938
	56,000		4.766		09/15/23	55,158
	493,000		4.775		09/15/23	485,586
	145,000		4.779		09/15/23	142,819
	232,000		4.785		09/15/23	228,511
	576,000		4.789		09/15/23	567,338
	308,000		4.796		09/15/23	303,368
	700,000		4.801		09/15/23	689,473
	868,000		4.822		09/15/23	854,946
	588,000		4.824		09/15/23	579,157
	1,624,000		4.845		09/15/23	1,599,577
	4,312,000		4.858		09/15/23	4,247,152
	224,000		4.861		09/15/23	220,631
	3,360,000		4.882		09/15/23	3,309,469
	560,000		4.893		09/15/23	551,578
	196,000		4.898		09/15/23	193,052
	1,036,000		4.903		09/15/23	1,020,420
	112,000		4.908		09/15/23	110,316

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Notes – (continued)
U.S. Treasury Notes – (continued)
$	168,000		4.932	%	09/15/23	$          165,473
	196,000		4.965		09/15/23	193,052
	364,000		4.970		09/15/23	358,526
	780,000		4.972		09/15/23	768,270
	1,400,000		4.988		09/15/23	1,378,945
	224,000		4.990		09/15/23	220,631
	476,000		5.014		09/15/23	468,841
	280,000		5.017		09/15/23	275,789
	336,000		5.033		09/15/23	330,947
	252,000		5.046		09/15/23	248,210
	308,000		5.065		09/15/23	303,368
	2,016,000		5.066		09/15/23	1,985,681
	532,000		5.070		09/15/23	523,999
	720,000		5.072		09/15/23	709,172
	784,000		5.077		09/15/23	772,209
	14,028,000		5.091		09/15/23	13,817,032
	616,000		5.093		09/15/23	606,736
	324,000		5.097		09/15/23	319,127
	588,000		5.100		09/15/23	579,157
	112,000		5.104		09/15/23	110,316
	224,000		5.107		09/15/23	220,631
	420,000		5.122		09/15/23	413,684
	448,000		5.135		09/15/23	441,263
	420,000		5.137		09/15/23	413,684
	224,000		5.162		09/15/23	220,631
	532,000		5.168		09/15/23	523,999
	364,000		5.221		09/15/23	358,526
	448,000		5.253		09/15/23	441,263
	146,597,800		4.761		12/15/23	142,600,719
	264,000		4.799		12/15/23	256,802
	1,880,000		4.861		12/15/23	1,828,741
	440,000		4.862		12/15/23	428,003
	528,000		4.864		12/15/23	513,604
	352,000		4.876		12/15/23	342,403
	1,232,000		4.886		12/15/23	1,198,409
	352,000		4.922		12/15/23	342,403
	9,800		4.967		12/15/23	9,533
	294,000		4.984		12/15/23	285,984
	836,000		5.020		12/15/23	813,206
	378,000		5.079		12/15/23	367,694
	462,000		5.089		12/15/23	449,403
	798,000		5.101		12/15/23	776,242
	3,024,000		5.113		12/15/23	2,941,549
	1,080,000		5.117		12/15/23	1,050,553
	51,709,300		5.118		12/15/23	50,299,414
	21,042,000		5.131		12/15/23	20,468,277
	1,005,000		5.154		12/15/23	977,598

GOLDMAN SACHS ACCESS TREASURY 0-1 YEAR ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate(a)			Maturity Date	Value
U.S. Treasury Notes – (continued)
U.S. Treasury Notes – (continued)
$	1,474,000		5.176	%	12/15/23	$       1,433,810
	871,000		5.306		12/15/23	847,252
	1,072,000		5.350		12/15/23	1,042,771
TOTAL U.S. TREASURY NOTES (Cost $378,822,364)						$   378,072,318
TOTAL INVESTMENTS – 100.0% (Cost $5,354,623,582)						5,349,832,608
OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.0%						646,136
NET ASSETS – 100.0%						$5,350,478,744

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – 32.5%
Federal Home Loan Mortgage Corporation
$	264,706		4.500	%	07/01/48	$       258,752
	240,887		2.500		11/01/50	208,852
	1,949,215		2.000		05/01/51	1,607,287
	2,790,884		2.500		05/01/51	2,385,594
	929,934		2.500		11/01/51	796,006
	10,950,337		2.000		03/01/52	9,000,618
	7,831,671		2.000		03/01/52	6,440,370
	1,253,355		2.000		03/01/52	1,030,555
	9,828,934		2.000		05/01/52	8,082,434
	206,121		4.500		05/01/52	199,237
	508,290		2.000		07/01/52	417,898
	3,878,123		3.000		08/01/52	3,477,603
	27,725		2.500		01/01/53	23,716
	249,702		5.000		01/01/53	245,710
	895,188		5.000		02/01/53	880,887
	822,161		5.000		04/01/53	813,164
Federal National Mortgage Association
	1,000,000		1.750		07/02/24	966,104
	5,000,000		1.500		TBA-15yr(a)	4,353,906
	8,000,000		2.000		TBA-15yr(a)	7,159,375
	2,000,000		2.500		TBA-15yr(a)	1,837,188
	2,000,000		3.000		TBA-15yr(a)	1,884,063
	2,640,423		3.500		07/01/45	2,474,261
	67,214		4.500		06/01/48	66,002
	362,051		4.500		07/01/48	355,526
	26,016		5.000		12/01/48	26,015
	47,827		4.500		01/01/49	46,798
	39,328		4.500		08/01/49	38,625
	666,887		4.500		08/01/49	654,990
	195,743		5.000		12/01/49	194,945
	28,886		4.500		01/01/50	28,317
	120,765		4.500		03/01/50	118,186
	109,192		5.000		04/01/50	110,839
	1,588,684		2.500		06/01/50	1,377,605
	53,339		4.500		10/01/50	52,322
	81,405		4.500		10/01/50	79,187
	102,315		2.500		02/01/51	88,079
	538,214		2.500		03/01/51	464,273
	685,247		2.500		09/01/51	591,259
	2,739,472		2.500		10/01/51	2,362,750
	1,237,577		2.500		11/01/51	1,067,319
	1,603,666		2.500		11/01/51	1,382,954
	7,847,166		2.000		02/01/52	6,453,085
	6,969,948		2.500		04/01/52	5,959,961
	85,903		2.000		10/01/52	70,599
	799,091		5.000		10/01/52	785,920
	995,578		5.000		11/01/52	979,459

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – (continued)
Federal National Mortgage Association – (continued)
$	40,452		2.500	%	12/01/52	$         34,603
	1,322,278		5.000		02/01/53	1,301,161
	448,924		5.000		03/01/53	441,749
	397,030		5.000		03/01/53	390,689
	197,755		5.000		04/01/53	194,595
	9,185,265		5.000		04/01/53	9,038,473
	597,457		5.000		05/01/53	587,908
	3,900,000		1.500		TBA-30yr(a)	3,036,820
	10,000,000		3.000		TBA-30yr(a)	8,864,063
	9,000,000		3.500		TBA-30yr(a)	8,256,797
	7,000,000		4.000		TBA-30yr(a)	6,607,344
	1,000,000		4.500		TBA-30yr(a)	966,406
	4,000,000		5.500		TBA-30yr(a)	3,989,375
Government National Mortgage Association
	55,388		5.000		12/20/48	55,571
	30,084		5.000		05/20/49	30,059
	298,118		3.000		09/20/49	268,883
	110,040		4.500		03/20/50	108,435
	60,315		5.000		05/20/50	60,456
	233,523		4.000		09/20/50	224,843
	784,584		3.000		07/20/51	709,021
	3,556,097		2.000		09/20/51	3,022,440
	2,357,587		4.500		10/20/52	2,286,060
	4,000,000		2.000		TBA-30yr(a)	3,385,625
	8,000,000		2.500		TBA-30yr(a)	6,983,125
	7,000,000		3.000		TBA-30yr(a)	6,294,531
	6,000,000		3.500		TBA-30yr(a)	5,557,969
	3,000,000		4.000		TBA-30yr(a)	2,847,187
	1,000,000		5.000		TBA-30yr(a)	985,234
	1,000,000		5.500		TBA-30yr(a)	997,266
TOTAL MORTGAGE-BACKED SECURITIES (Cost $156,925,891)						$155,425,283
U.S. Treasury Notes – 32.3%
U.S. Treasury Notes
$	27,266,000		1.500	%	10/31/24	$  26,043,693
	19,564,000		2.500		01/31/25	18,896,012
	21,549,000		2.000		02/15/25	20,638,309
	43,473,000		0.250		10/31/25	39,567,892
	10,000,000		1.625		05/15/26	9,327,116
	16,803,000		2.875		08/15/28	16,078,877
	6,630,000		2.875		04/30/29	6,318,654
	5,981,000		2.375		05/15/29	5,542,174
	4,928,000		2.750		05/31/29	4,662,081
	3,860,000		3.250		06/30/29	3,753,668

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
U.S. Treasury Notes – (continued)
U.S. Treasury Notes – (continued)
$	3,707,000		1.625	%	08/15/29	$    3,283,385
TOTAL U.S. TREASURY NOTES (Cost $156,327,626)						$154,111,861
Corporate Obligations – 20.1%
Aerospace & Defense – 0.5%
Boeing Co. (The)
$	500,000		4.875	%	05/01/25	$       496,316
	500,000		3.625		02/01/31	451,427
	300,000		5.805		05/01/50	294,475
General Dynamics Corp.
	215,000		3.625		04/01/30	201,846
Hexcel Corp.
	40,000		4.200		02/15/27	38,044
Lockheed Martin Corp.
	335,000		5.250		01/15/33	348,653
Northrop Grumman Corp.
	40,000		4.030		10/15/47	33,437
Raytheon Technologies Corp.
	200,000		3.950		08/16/25	195,944
	100,000		2.375		03/15/32	82,829
	30,000		4.450		11/16/38	27,812
	60,000		4.875		10/15/40	56,527
	400,000		2.820		09/01/51	264,731
Textron, Inc.
	80,000		3.000		06/01/30	70,512
						2,562,553
Banks – 4.0%
American Express Co.
	80,000		3.625		12/05/24	77,724
	400,000		3.950		08/01/25	390,534
Bank of America Corp.
(SOFR + 0.690%)
	425,000		0.976	(b)	04/22/25	407,621
(SOFR + 0.960%)
	300,000		1.734	(b)	07/22/27	266,508
(3M U.S. T-Bill MMY + 1.040%)
	200,000		3.419	(b)	12/20/28	184,054
(SOFR + 2.150%)
	180,000		2.592	(b)	04/29/31	151,384
(US 5 Year CMT T-Note + 1.200%)
	200,000		2.482	(b)	09/21/36	153,283
(3M U.S. T-Bill MMY + 2.076%)
	264,000		4.244	(b)	04/24/38	233,294
	100,000		7.750		05/14/38	118,784
Bank of America Corp., Series L
	125,000		4.183		11/25/27	119,882
	73,000		4.750		04/21/45	66,872

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp., MTN
$	100,000		3.875	%	08/01/25	$         97,722
(SOFR + 1.010%)
	100,000		1.197	(b)	10/24/26	89,834
(3M U.S. T-Bill MMY + 1.322%)
	80,000		3.559	(b)	04/23/27	76,052
	75,000		3.248		10/21/27	70,311
(SOFR + 2.040%)
	900,000		4.948	(b)	07/22/28	891,650
(3M U.S. T-Bill MMY + 1.472%)
	300,000		3.974	(b)	02/07/30	278,435
(3M U.S. T-Bill MMY + 1.252%)
	200,000		2.496	(b)	02/13/31	167,808
(SOFR + 1.530%)
	40,000		1.898	(b)	07/23/31	31,907
(SOFR + 1.930%)
	700,000		2.676	(b)	06/19/41	480,659
(3M U.S. T-Bill MMY + 3.412%)
	300,000		4.083	(b)	03/20/51	241,013
(SOFR + 1.880%)
	60,000		2.831	(b)	10/24/51	38,251
Bank of America Corp.(b), Series N
(SOFR + 1.650%)
	100,000		3.483		03/13/52	73,286
Bank of New York Mellon Corp. (The), MTN
	300,000		2.800		05/04/26	284,257
	155,000		1.650		01/28/31	123,339
	646,000		1.800		07/28/31	510,788
Charles Schwab Corp. (The)
	610,000		3.200		03/02/27	558,563
	150,000		2.900		03/03/32	122,865
Citigroup, Inc.
(SOFR + 1.372%)
	800,000		4.140	(b)	05/24/25	788,414
(SOFR + 0.765%)
	100,000		1.122	(b)	01/28/27	89,445
(3M U.S. T-Bill MMY + 1.825%)
	100,000		3.887	(b)	01/10/28	95,099
(SOFR + 1.887%)
	300,000		4.658	(b)	05/24/28	294,714
(SOFR + 2.086%)
	700,000		4.910	(b)	05/24/33	678,780
Comerica, Inc.
	25,000		4.000		02/01/29	20,229
Fifth Third Bancorp
	40,000		8.250		03/01/38	44,874

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
JPMorgan Chase & Co.
(3M U.S. T-Bill MMY + 0.540%)
$	300,000		0.824	%(b)	06/01/25	$       285,264
(SOFR + 0.490%)
	300,000		0.768	(b)	08/09/25	282,526
(3M U.S. T-Bill MMY + 1.585%)
	165,000		2.005	(b)	03/13/26	155,405
	40,000		7.625		10/15/26	43,114
(SOFR + 0.800%)
	100,000		1.045	(b)	11/19/26	90,075
	300,000		8.000		04/29/27	332,456
	80,000		4.250		10/01/27	78,161
(3M U.S. T-Bill MMY + 1.599%)
	400,000		3.782	(b)	02/01/28	380,793
(3M U.S. T-Bill MMY + 1.642%)
	50,000		3.540	(b)	05/01/28	47,252
(3M U.S. T-Bill MMY + 1.592%)
	40,000		4.452	(b)	12/05/29	38,682
(3M U.S. T-Bill MMY + 1.510%)
	90,000		2.739	(b)	10/15/30	77,976
(3M U.S. T-Bill MMY + 3.790%)
	342,000		4.493	(b)	03/24/31	329,582
(3M U.S. T-Bill MMY + 1.105%)
	25,000		1.764	(b)	11/19/31	19,702
(SOFR + 1.180%)
	300,000		2.545	(b)	11/08/32	245,718
(3M U.S. T-Bill MMY + 1.622%)
	152,000		3.882	(b)	07/24/38	130,991
	15,000		5.400		01/06/42	15,022
	40,000		4.850		02/01/44	37,804
(3M U.S. T-Bill MMY + 1.642%)
	40,000		3.964	(b)	11/15/48	32,281
(SOFR + 2.440%)
	660,000		3.109	(b)	04/22/51	459,002
KeyCorp, MTN
	120,000		4.100		04/30/28	105,028
	80,000		2.550		10/01/29	60,899
(SOFRINDX + 2.060%)
	250,000		4.789	(b)	06/01/33	215,757
M&T Bank Corp.(b)
(SOFR + 1.850%)
	400,000		5.053		01/27/34	369,813
Manufacturers & Traders Trust Co.
	280,000		3.400		08/17/27	239,667
Morgan Stanley
(SOFR + 0.525%)
	40,000		0.790	(b)	05/30/25	37,966
(SOFR + 1.295%)
	500,000		5.050	(b)	01/28/27	499,669

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Morgan Stanley – (continued)
(SOFR + 1.360%)
$	100,000		2.484	%(b)	09/16/36	$         75,398
(SOFR + 1.485%)
	300,000		3.217	(b)	04/22/42	225,541
	80,000		4.300		01/27/45	69,184
	75,000		4.375		01/22/47	65,601
Morgan Stanley, GMTN
	340,000		3.700		10/23/24	331,886
	120,000		4.350		09/08/26	116,373
(SOFR + 1.143%)
	250,000		2.699	(b)	01/22/31	214,166
(SOFR + 1.178%)
	200,000		2.239	(b)	07/21/32	160,083
Morgan Stanley, MTN
	100,000		6.250		08/09/26	102,920
(SOFR + 1.430%)
	300,000		2.802	(b)	01/25/52	193,255
Northern Trust Corp.
	315,000		3.950		10/30/25	305,459
	56,000		3.650		08/03/28	53,898
	135,000		3.150		05/03/29	124,668
PNC Bank NA
	300,000		2.700		10/22/29	258,001
PNC Financial Services Group, Inc. (The)
	290,000		3.450		04/23/29	264,506
State Street Corp.
(SOFR + 0.560%)
	40,000		1.684	(b)	11/18/27	35,749
(3M USD LIBOR + 1.030%)
	50,000		4.141	(b)	12/03/29	47,975
	100,000		2.200		03/03/31	81,082
(SOFR + 1.490%)
	40,000		3.031	(b)	11/01/34	34,482
Synchrony Financial
	150,000		3.950		12/01/27	129,436
	100,000		2.875		10/28/31	71,780
Truist Financial Corp., MTN
	80,000		3.875		03/19/29	71,765
US Bancorp, MTN
	80,000		3.900		04/26/28	75,092
	80,000		3.000		07/30/29	68,676
	40,000		1.375		07/22/30	30,416
US Bancorp, Series V
	300,000		2.375		07/22/26	274,010
US Bancorp, Series X
	150,000		3.150		04/27/27	140,028

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
US Bank NA
$	300,000		2.050	%	01/21/25	$       283,796
Wells Fargo & Co.
(SOFR + 2.000%)
	300,000		2.188	(b)	04/30/26	282,644
	400,000		3.000		10/23/26	373,704
	128,000		5.606		01/15/44	122,067
	60,000		3.900		05/01/45	47,612
Wells Fargo & Co., MTN
(3M U.S. T-Bill MMY + 1.572%)
	50,000		3.584	(b)	05/22/28	46,967
	25,000		4.150		01/24/29	23,672
(SOFR + 1.262%)
	400,000		2.572	(b)	02/11/31	337,026
(SOFR + 4.032%)
	340,000		4.478	(b)	04/04/31	323,749
	290,000		4.750		12/07/46	246,027
Wells Fargo Bank NA
	300,000		6.600		01/15/38	329,268
						18,966,802
Basic Industry – 0.3%
CF Industries, Inc.
	272,000		5.150		03/15/34	258,584
	100,000		5.375		03/15/44	88,136
Dow Chemical Co. (The)
	60,000		3.600		11/15/50	43,672
DuPont de Nemours, Inc.
	400,000		5.419		11/15/48	392,114
FMC Corp.
	302,000		4.500		10/01/49	236,524
Huntsman International LLC
	70,000		4.500		05/01/29	63,793
Linde, Inc.
	85,000		1.100		08/10/30	67,101
LYB International Finance III LLC
	40,000		2.250		10/01/30	32,712
	180,000		3.625		04/01/51	123,509
Mosaic Co. (The)
	80,000		4.875		11/15/41	67,822
Sherwin-Williams Co. (The)
	200,000		3.450		06/01/27	190,156
						1,564,123
Broadcasting – 0.0%
Fox Corp.
	40,000		4.709		01/25/29	39,030
	40,000		5.576		01/25/49	36,152
						75,182

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Brokerage – 0.3%
Affiliated Managers Group, Inc.
$	130,000		3.300	%	06/15/30	$       109,678
CME Group, Inc.
	375,000		3.000		03/15/25	362,415
Eaton Vance Corp.
	50,000		3.500		04/06/27	46,965
Intercontinental Exchange, Inc.
	185,000		2.100		06/15/30	155,332
	482,000		4.600		03/15/33	470,985
Jefferies Financial Group, Inc.
	40,000		4.850		01/15/27	39,389
	40,000		4.150		01/23/30	36,184
	200,000		6.250		01/15/36	201,415
	20,000		6.500		01/20/43	19,759
Morgan Stanley Domestic Holdings, Inc.
	80,000		4.500		06/20/28	78,326
						1,520,448
Capital Goods – 0.7%
3M Co.
	250,000		3.050		04/15/30	222,450
Carrier Global Corp.
	100,000		3.577		04/05/50	71,944
Caterpillar Financial Services Corp., MTN
	400,000		3.400		05/13/25	389,491
Caterpillar, Inc.
	50,000		3.803		08/15/42	43,360
	230,000		3.250		04/09/50	178,429
CNH Industrial Capital LLC
	50,000		1.450		07/15/26	44,451
Cummins, Inc.
	411,000		2.600		09/01/50	260,290
Deere & Co.
	25,000		3.900		06/09/42	22,339
	40,000		2.875		09/07/49	29,622
	25,000		3.750		04/15/50	21,764
Emerson Electric Co.
	45,000		1.950		10/15/30	37,460
	15,000		6.000		08/15/32	15,986
Fortive Corp.
	15,000		4.300		06/15/46	11,950
Honeywell International, Inc.
	100,000		2.700		08/15/29	90,667
	188,000		1.950		06/01/30	158,564
Illinois Tool Works, Inc.
	115,000		3.900		09/01/42	100,439
John Deere Capital Corp., MTN
	300,000		4.750		01/20/28	303,514
	35,000		2.800		07/18/29	31,847

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Capital Goods – (continued)
John Deere Capital Corp., MTN – (continued)
$	80,000		2.450	%	01/09/30	$         70,430
Leggett & Platt, Inc.
	80,000		4.400		03/15/29	76,980
	100,000		3.500		11/15/51	72,077
Otis Worldwide Corp.
	60,000		2.293		04/05/27	54,804
Regal Rexnord Corp.(c)
	200,000		6.400		04/15/33	197,571
Republic Services, Inc.
	150,000		2.375		03/15/33	122,734
Trane Technologies Luxembourg Finance SA
	50,000		3.800		03/21/29	47,193
Waste Management, Inc.
	50,000		0.750		11/15/25	45,162
	50,000		2.500		11/15/50	31,392
Westinghouse Air Brake Technologies Corp.
	133,000		3.450		11/15/26	125,356
	415,000		4.950		09/15/28	404,390
WW Grainger, Inc.
	100,000		1.850		02/15/25	95,094
	60,000		4.600		06/15/45	55,861
	100,000		3.750		05/15/46	79,847
Xylem, Inc.
	15,000		3.250		11/01/26	14,265
						3,527,723
Communications – 0.9%
Charter Communications Operating LLC / Charter Communications Operating Capital
	190,000		4.908		07/23/25	186,837
	140,000		3.750		02/15/28	128,352
	82,000		4.200		03/15/28	76,922
	90,000		5.050		03/30/29	86,337
	40,000		2.800		04/01/31	32,036
	130,000		6.384		10/23/35	126,152
	300,000		5.375		04/01/38	254,149
	240,000		6.484		10/23/45	217,562
	60,000		5.750		04/01/48	49,827
	40,000		5.125		07/01/49	30,610
	40,000		6.834		10/23/55	37,224
	100,000		3.850		04/01/61	59,249
	60,000		4.400		12/01/61	39,220
Comcast Corp.
	500,000		3.950		10/15/25	491,763
	500,000		4.250		01/15/33	478,157
	300,000		2.887		11/01/51	198,048
Omnicom Group, Inc.
	511,000		2.450		04/30/30	430,672

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Communications – (continued)
Omnicom Group, Inc. – (continued)
$	80,000		4.200	%	06/01/30	$         75,777
Time Warner Cable Enterprises LLC
	115,000		8.375		07/15/33	127,689
Time Warner Cable LLC
	115,000		6.750		06/15/39	108,918
	15,000		5.875		11/15/40	12,991
	15,000		5.500		09/01/41	12,414
TWDC Enterprises 18 Corp.
	15,000		4.375		08/16/41	13,485
TWDC Enterprises 18 Corp., GMTN
	15,000		4.125		06/01/44	12,981
TWDC Enterprises 18 Corp., MTN
	250,000		2.950		06/15/27	236,434
Walt Disney Co. (The)
	400,000		1.750		08/30/24	383,973
	80,000		2.000		09/01/29	68,639
	80,000		3.800		03/22/30	75,849
	90,000		3.500		05/13/40	73,921
	15,000		4.750		09/15/44	13,979
	50,000		3.600		01/13/51	38,641
						4,178,808
Consumer Cyclical – 1.5%
Amazon.com, Inc.
	500,000		3.300		04/13/27	482,207
	250,000		3.150		08/22/27	238,916
	100,000		2.100		05/12/31	84,617
	80,000		4.050		08/22/47	70,739
	15,000		2.500		06/03/50	9,774
	200,000		3.950		04/13/52	171,708
	75,000		4.250		08/22/57	66,664
	50,000		2.700		06/03/60	31,834
Costco Wholesale Corp.
	40,000		3.000		05/18/27	38,274
DR Horton, Inc.
	80,000		2.500		10/15/24	76,881
	90,000		2.600		10/15/25	84,550
	100,000		1.400		10/15/27	86,149
General Motors Co.
	400,000		5.600		10/15/32	386,072
General Motors Financial Co., Inc.
	500,000		6.050		10/10/25	503,950
Home Depot, Inc. (The)
	250,000		2.800		09/14/27	234,555
	300,000		4.500		09/15/32	297,758
	237,000		3.125		12/15/49	168,819
	300,000		3.625		04/15/52	233,413

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Cyclical – (continued)
Las Vegas Sands Corp.
$	473,000		3.900	%	08/08/29	$       419,726
Marriott International, Inc., Series EE
	50,000		5.750		05/01/25	50,600
Mastercard, Inc.
	60,000		2.000		03/03/25	57,375
	15,000		3.300		03/26/27	14,452
	100,000		3.950		02/26/48	87,517
	50,000		3.850		03/26/50	42,726
McDonald’s Corp., MTN
	200,000		3.500		07/01/27	191,905
	45,000		4.700		12/09/35	43,849
	60,000		4.450		09/01/48	53,086
MDC Holdings, Inc.
	434,000		2.500		01/15/31	336,860
	40,000		6.000		01/15/43	35,050
NIKE, Inc.
	20,000		3.375		03/27/50	15,938
O’Reilly Automotive, Inc.
	80,000		4.200		04/01/30	75,895
PulteGroup, Inc.
	264,000		6.375		05/15/33	273,413
Starbucks Corp.
	250,000		3.800		08/15/25	244,825
	30,000		3.750		12/01/47	23,469
Tapestry, Inc.
	33,000		4.125		07/15/27	31,268
Toyota Motor Credit Corp.
	100,000		0.625		09/13/24	94,653
	40,000		3.650		01/08/29	38,143
Toyota Motor Credit Corp., MTN
	300,000		0.800		01/09/26	271,724
	100,000		1.150		08/13/27	87,527
	80,000		3.375		04/01/30	74,005
Visa, Inc.
	40,000		1.900		04/15/27	36,895
	135,000		0.750		08/15/27	118,702
	405,000		2.750		09/15/27	382,035
	40,000		4.300		12/14/45	37,017
Walmart, Inc.
	340,000		2.850		07/08/24	332,434
	200,000		2.650		09/22/51	139,878
Western Union Co. (The)
	50,000		1.350		03/15/26	44,374
						6,922,221
Consumer Noncyclical – 1.7%
Abbott Laboratories
	60,000		3.875		09/15/25	58,993

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Abbott Laboratories – (continued)
$	150,000		4.750	%	11/30/36	$       151,561
	100,000		6.000		04/01/39	111,463
	40,000		4.750		04/15/43	39,210
AbbVie, Inc.
	600,000		2.950		11/21/26	566,764
	100,000		4.625		10/01/42	88,337
	200,000		4.400		11/06/42	175,434
	200,000		4.700		05/14/45	180,185
	150,000		4.250		11/21/49	127,550
Agilent Technologies, Inc.
	100,000		2.750		09/15/29	88,755
Altria Group, Inc.
	115,000		3.400		05/06/30	101,638
	40,000		4.500		05/02/43	31,470
	40,000		5.375		01/31/44	37,108
	75,000		3.875		09/16/46	52,050
	150,000		5.950		02/14/49	139,263
	55,000		4.450		05/06/50	39,969
Amgen, Inc.
	200,000		3.625		05/22/24	196,361
	200,000		2.600		08/19/26	186,940
	200,000		2.200		02/21/27	183,993
	500,000		5.250		03/02/33	501,926
	400,000		5.600		03/02/43	398,000
	200,000		4.663		06/15/51	176,613
Bristol-Myers Squibb Co.
	300,000		0.750		11/13/25	274,414
	300,000		3.200		06/15/26	289,399
	50,000		3.250		02/27/27	48,342
Centene Corp.
	400,000		4.250		12/15/27	377,912
Elevance Health, Inc.
	300,000		5.500		10/15/32	311,516
Eli Lilly & Co.
	15,000		3.100		05/15/27	14,321
	102,000		3.375		03/15/29	96,843
Equifax, Inc.
	40,000		3.250		06/01/26	37,991
	100,000		2.350		09/15/31	79,922
Gilead Sciences, Inc.
	479,000		2.800		10/01/50	320,048
Johnson & Johnson
	76,000		0.550		09/01/25	69,985
	15,000		0.950		09/01/27	13,195
	90,000		2.900		01/15/28	85,704
	170,000		6.950		09/01/29	197,185
	40,000		1.300		09/01/30	33,118

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Noncyclical – (continued)
Johnson & Johnson – (continued)
$	25,000		3.625	%	03/03/37	$         22,728
	40,000		2.100		09/01/40	27,946
	25,000		4.500		12/05/43	24,463
	35,000		3.700		03/01/46	30,344
Kroger Co. (The)
	25,000		3.875		10/15/46	19,454
Medtronic, Inc.
	50,000		4.375		03/15/35	48,639
Merck & Co., Inc.
	150,000		1.700		06/10/27	135,937
	100,000		3.600		09/15/42	84,165
	250,000		3.700		02/10/45	211,183
Mylan, Inc.
	210,000		5.400		11/29/43	167,499
	135,000		5.200		04/15/48	101,915
Pfizer, Inc.
	290,000		0.800		05/28/25	269,146
	245,000		4.000		12/15/36	228,856
	10,000		4.100		09/15/38	9,179
	40,000		2.700		05/28/50	27,779
Philip Morris International, Inc.
	40,000		3.250		11/10/24	38,958
	450,000		5.125		11/17/27	455,221
	50,000		5.750		11/17/32	51,344
	15,000		4.375		11/15/41	12,594
	15,000		4.875		11/15/43	13,124
	10,000		4.250		11/10/44	8,042
Royalty Pharma PLC
	200,000		1.750		09/02/27	173,136
Utah Acquisition Sub, Inc.
	75,000		5.250		06/15/46	57,281
Viatris, Inc.
	150,000		2.700		06/22/30	120,468
	15,000		4.000		06/22/50	9,631
Walgreens Boots Alliance, Inc.
	40,000		4.800		11/18/44	33,329
	15,000		4.650		06/01/46	12,395
Wyeth LLC
	10,000		6.500		02/01/34	11,322
						8,289,556
Consumer Products – 0.3%
Clorox Co. (The)
	747,000		4.600		05/01/32	736,181
Colgate-Palmolive Co., MTN
	40,000		4.000		08/15/45	36,411
	15,000		3.700		08/01/47	13,067

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Consumer Products – (continued)
Haleon US Capital LLC
$	250,000		4.000	%	03/24/52	$       202,846
Procter & Gamble Co. (The)
	40,000		0.550		10/29/25	36,524
	40,000		1.000		04/23/26	36,414
	300,000		2.450		11/03/26	282,323
	15,000		2.850		08/11/27	14,250
						1,358,016
Electric – 2.0%
AEP Texas, Inc., Series G
	100,000		4.150		05/01/49	80,413
AEP Transmission Co. LLC
	100,000		3.750		12/01/47	79,215
AEP Transmission Co. LLC, Series M
	110,000		3.650		04/01/50	85,054
Alabama Power Co., Series 20-A
	15,000		1.450		09/15/30	11,934
Alabama Power Co., Series A
	100,000		4.300		07/15/48	84,636
American Electric Power Co., Inc.
	300,000		2.300		03/01/30	249,066
	40,000		3.250		03/01/50	26,957
American Electric Power Co., Inc., Series J
	36,000		4.300		12/01/28	34,883
Black Hills Corp.
	20,000		2.500		06/15/30	16,592
Cleco Corporate Holdings LLC
	80,000		3.375		09/15/29	68,925
Cleco Power LLC
	15,000		6.000		12/01/40	14,854
CMS Energy Corp.(b)
(US 5 Year CMT T-Note + 4.116%)
	150,000		4.750		06/01/50	132,375
Commonwealth Edison Co.
	300,000		3.650		06/15/46	233,869
Commonwealth Edison Co., Series 123
	40,000		3.750		08/15/47	31,742
Consolidated Edison Co. of New York, Inc.
	170,000		3.850		06/15/46	132,652
	40,000		4.625		12/01/54	34,255
	100,000		4.500		05/15/58	82,932
Consolidated Edison Co. of New York, Inc., Series 08-B
	10,000		6.750		04/01/38	11,310
Consolidated Edison Co. of New York, Inc., Series 12-A
	40,000		4.200		03/15/42	34,046
Consolidated Edison Co. of New York, Inc., Series A
	15,000		4.125		05/15/49	12,276

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Dominion Energy, Inc.
$	80,000		4.250	%	06/01/28	$         77,223
Dominion Energy, Inc., Series C
	300,000		3.375		04/01/30	268,715
DTE Electric Co.
	15,000		3.700		03/15/45	11,788
DTE Electric Co., Series A
	40,000		4.000		04/01/43	33,117
DTE Energy Co.(d), Series C
	60,000		2.529		10/01/24	57,695
Duke Energy Carolinas LLC
	350,000		3.700		12/01/47	269,928
	50,000		3.950		03/15/48	40,454
Duke Energy Corp.
	300,000		3.750		09/01/46	223,690
Duke Energy Florida LLC
	25,000		3.400		10/01/46	18,460
Duke Energy Indiana LLC
	50,000		6.350		08/15/38	55,829
	40,000		6.450		04/01/39	43,767
Duke Energy Progress LLC
	100,000		3.450		03/15/29	92,995
	15,000		4.100		05/15/42	12,829
Edison International
	485,000		5.750		06/15/27	488,577
Entergy Corp.
	50,000		2.800		06/15/30	42,849
Entergy Louisiana LLC
	250,000		0.950		10/01/24	236,251
	230,000		4.200		04/01/50	191,594
Entergy Texas, Inc.
	85,000		1.750		03/15/31	67,513
Evergy Kansas Central, Inc.
	40,000		4.250		12/01/45	33,464
	250,000		5.700		03/15/53	252,005
Evergy Metro, Inc.
	200,000		4.200		03/15/48	162,041
Evergy Metro, Inc., Series 2019
	15,000		4.125		04/01/49	12,083
Eversource Energy
	60,000		3.450		01/15/50	43,526
Exelon Corp.
	100,000		4.450		04/15/46	83,999
Florida Power & Light Co.
	80,000		4.950		06/01/35	79,469
	300,000		5.690		03/01/40	314,159
	15,000		4.125		02/01/42	13,033
	140,000		4.050		10/01/44	118,620

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Georgia Power Co., Series B
$	400,000		2.650	%	09/15/29	$       348,540
	15,000		3.700		01/30/50	11,302
Interstate Power and Light Co.
	200,000		2.300		06/01/30	166,780
	40,000		3.500		09/30/49	28,752
National Rural Utilities Cooperative Finance Corp.
	40,000		2.400		03/15/30	34,069
	100,000		2.750		04/15/32	83,964
	300,000		4.023		11/01/32	279,476
NiSource, Inc.
	100,000		1.700		02/15/31	78,529
Northern States Power Co.
	200,000		4.500		06/01/52	178,963
NSTAR Electric Co.
	15,000		3.200		05/15/27	14,199
	100,000		3.950		04/01/30	94,770
Ohio Power Co., Series D
	15,000		6.600		03/01/33	16,518
Pacific Gas and Electric Co.
	100,000		3.450		07/01/25	95,135
	200,000		2.100		08/01/27	172,534
	210,000		4.300		03/15/45	150,385
	150,000		4.000		12/01/46	101,587
PPL Capital Funding, Inc.
	25,000		5.000		03/15/44	21,657
Public Service Electric and Gas Co., MTN
	100,000		1.900		08/15/31	80,482
	300,000		3.800		03/01/46	240,519
	100,000		3.000		03/01/51	69,222
Public Service Enterprise Group, Inc.
	40,000		2.450		11/15/31	32,461
Puget Sound Energy, Inc.
	205,000		4.223		06/15/48	172,464
Sempra Energy
	400,000		3.800		02/01/38	332,712
	100,000		4.000		02/01/48	77,837
Southern California Edison Co.
	40,000		2.850		08/01/29	35,086
Southern Co. (The)
	110,000		5.113		08/01/27	109,906
	250,000		4.400		07/01/46	208,330
Southern Co. (The)(b), Series 21-A
(US 5 Year CMT T-Note + 2.915%)
	100,000		3.750		09/15/51	85,029
Southern Co. Gas Capital Corp.
	15,000		3.950		10/01/46	11,494
	100,000		4.400		05/30/47	82,201

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Southwestern Electric Power Co., Series L
$	100,000		3.850	%	02/01/48	$         74,783
Tucson Electric Power Co.
	300,000		4.850		12/01/48	266,792
Union Electric Co.
	100,000		3.500		03/15/29	93,185
Virginia Electric and Power Co., Series A
	100,000		3.500		03/15/27	95,547
Virginia Electric and Power Co., Series B
	100,000		6.000		01/15/36	104,988
Virginia Electric and Power Co., Series C
	150,000		4.000		11/15/46	118,846
Xcel Energy, Inc.
	400,000		1.750		03/15/27	357,518
						9,330,221
Energy – 1.5%
Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc.
	185,000		4.080		12/15/47	145,861
Boardwalk Pipelines LP
	100,000		4.800		05/03/29	96,772
BP Capital Markets America, Inc.
	300,000		4.234		11/06/28	295,313
Cheniere Corpus Christi Holdings LLC
	80,000		5.875		03/31/25	80,100
	40,000		5.125		06/30/27	39,650
	300,000		2.742		12/31/39	239,976
Chevron Corp.
	300,000		3.326		11/17/25	293,531
Chevron USA, Inc.
	200,000		2.343		08/12/50	126,073
ConocoPhillips Co.
	250,000		3.758		03/15/42	207,111
Devon Energy Corp.
	9,000		4.500		01/15/30	8,476
Energy Transfer LP
	140,000		3.750		05/15/30	126,481
	75,000		6.125		12/15/45	70,040
	225,000		5.300		04/15/47	190,485
	55,000		6.250		04/15/49	52,345
Enterprise Products Operating LLC
	100,000		2.800		01/31/30	88,034
	160,000		4.850		08/15/42	145,062
	60,000		4.200		01/31/50	48,779
	15,000		3.950		01/31/60	11,179
Enterprise Products Operating LLC, Series D
	80,000		6.875		03/01/33	90,395
EOG Resources, Inc.
	60,000		3.900		04/01/35	54,390

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
Exxon Mobil Corp.
$	75,000		2.709	%	03/06/25	$         72,443
	200,000		2.275		08/16/26	187,689
	200,000		4.227		03/19/40	182,949
Halliburton Co.
	50,000		5.000		11/15/45	44,332
Hess Corp.
	120,000		4.300		04/01/27	116,336
	55,000		6.000		01/15/40	54,312
	75,000		5.600		02/15/41	70,416
	100,000		5.800		04/01/47	95,616
Kinder Morgan Energy Partners LP
	300,000		7.300		08/15/33	327,055
Kinder Morgan, Inc.
	40,000		4.300		06/01/25	39,289
	56,000		2.000		02/15/31	44,349
	200,000		5.200		03/01/48	171,702
Magellan Midstream Partners LP
	300,000		4.200		10/03/47	220,098
Marathon Oil Corp.
	300,000		6.800		03/15/32	310,933
MPLX LP
	100,000		4.875		12/01/24	98,984
	200,000		1.750		03/01/26	182,446
	476,000		2.650		08/15/30	400,007
	140,000		4.700		04/15/48	112,672
	100,000		5.500		02/15/49	89,089
NOV, Inc.
	15,000		3.950		12/01/42	10,790
ONEOK Partners LP
	15,000		6.650		10/01/36	15,205
ONEOK, Inc.
	80,000		2.200		09/15/25	74,141
	100,000		3.400		09/01/29	88,227
	25,000		6.350		01/15/31	25,653
	140,000		5.200		07/15/48	116,952
Ovintiv, Inc.
	40,000		7.375		11/01/31	42,806
	65,000		6.500		08/15/34	65,462
Phillips 66 Co.
	250,000		3.550		10/01/26	236,465
Plains All American Pipeline LP / PAA Finance Corp.
	90,000		3.600		11/01/24	87,387
	50,000		4.650		10/15/25	49,101
	40,000		4.500		12/15/26	38,696
	92,000		3.550		12/15/29	81,310
	35,000		6.700		05/15/36	35,014
	40,000		6.650		01/15/37	40,217

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Energy – (continued)
Plains All American Pipeline LP / PAA Finance Corp. – (continued)
$	15,000		4.700	%	06/15/44	$         11,598
Sabine Pass Liquefaction LLC
	120,000		5.750		05/15/24	119,775
	110,000		5.625		03/01/25	109,970
	120,000		4.200		03/15/28	114,300
	15,000		4.500		05/15/30	14,156
Spectra Energy Partners LP
	125,000		3.375		10/15/26	118,308
Transcontinental Gas Pipe Line Co. LLC
	50,000		5.400		08/15/41	47,757
	40,000		3.950		05/15/50	30,545
Valero Energy Corp.
	200,000		3.400		09/15/26	190,835
	15,000		4.900		03/15/45	13,163
	60,000		3.650		12/01/51	40,967
Williams Cos., Inc. (The)
	200,000		3.750		06/15/27	190,730
	15,000		6.300		04/15/40	15,559
						7,255,859
Financial Company – 0.2%
Air Lease Corp.
	300,000		2.200		01/15/27	265,266
Aircastle Ltd.
	15,000		4.250		06/15/26	14,127
Blackstone Private Credit Fund
	150,000		3.250		03/15/27	128,671
GE Capital Funding LLC
	300,000		4.550		05/15/32	290,992
GE Capital International Funding Co. Unlimited
	200,000		4.418		11/15/35	189,991
Lazard Group LLC
	110,000		4.500		09/19/28	103,411
						992,458
Food and Beverage – 0.6%
Coca-Cola Co. (The)
	155,000		1.750		09/06/24	149,939
	50,000		2.250		01/05/32	42,706
	593,000		3.000		03/05/51	443,929
Conagra Brands, Inc.
	100,000		1.375		11/01/27	85,582
Constellation Brands, Inc.
	40,000		3.150		08/01/29	36,114
	291,000		4.750		05/09/32	283,414
Hershey Co. (The)
	40,000		3.375		08/15/46	30,737
	100,000		3.125		11/15/49	73,357

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Food and Beverage – (continued)
J M Smucker Co. (The)
$	40,000		2.125	%	03/15/32	$         32,271
	15,000		4.375		03/15/45	12,926
	100,000		3.550		03/15/50	73,021
Kellogg Co.
	100,000		4.500		04/01/46	88,620
Keurig Dr Pepper, Inc.
	100,000		4.420		12/15/46	84,910
	300,000		4.500		04/15/52	258,251
Kraft Heinz Foods Co.
	159,000		3.000		06/01/26	151,152
	40,000		3.875		05/15/27	38,751
	80,000		3.750		04/01/30	74,626
	22,000		5.000		07/15/35	21,691
	285,000		5.200		07/15/45	270,438
	110,000		4.375		06/01/46	92,512
	40,000		4.875		10/01/49	36,229
Molson Coors Beverage Co.
	120,000		4.200		07/15/46	96,718
PepsiCo, Inc.
	300,000		3.500		07/17/25	292,328
	146,000		2.750		03/19/30	131,902
Sysco Corp.
	80,000		2.400		02/15/30	68,616
						2,970,740
Hardware – 0.1%
Micron Technology, Inc.
	150,000		6.750		11/01/29	156,750
	370,000		3.366		11/01/41	253,256
						410,006
Healthcare – 1.0%
Aetna, Inc.
	40,000		4.750		03/15/44	35,402
Bio-Rad Laboratories, Inc.
	100,000		3.700		03/15/32	88,134
Cigna Group (The)
	400,000		4.375		10/15/28	389,545
CVS Health Corp.
	200,000		3.250		08/15/29	180,755
	250,000		3.750		04/01/30	230,071
	76,000		1.750		08/21/30	61,187
	280,000		4.780		03/25/38	260,015
	370,000		5.050		03/25/48	335,123
	100,000		4.250		04/01/50	80,972
Elevance Health, Inc.
	150,000		2.550		03/15/31	127,297
	15,000		4.650		08/15/44	13,429
	40,000		4.850		08/15/54	34,338

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare – (continued)
Evernorth Health, Inc.
$	120,000		4.500	%	02/25/26	$       118,604
HCA, Inc.
	70,000		5.875		02/15/26	70,262
	46,000		5.250		06/15/26	45,540
	90,000		5.375		09/01/26	89,775
	40,000		4.500		02/15/27	38,925
	25,000		5.625		09/01/28	25,219
	785,000		5.875		02/01/29	796,775
	75,000		4.125		06/15/29	69,690
	50,000		3.500		09/01/30	44,159
	40,000		5.500		06/15/47	36,701
Humana, Inc.
	100,000		2.150		02/03/32	79,390
McKesson Corp.
	200,000		3.950		02/16/28	193,260
Quest Diagnostics, Inc.
	100,000		2.800		06/30/31	85,826
UnitedHealth Group, Inc.
	250,000		4.625		07/15/35	245,374
	250,000		4.750		07/15/45	235,290
	450,000		3.750		10/15/47	360,092
	25,000		2.900		05/15/50	17,383
	300,000		5.200		04/15/63	295,960
						4,684,493
Insurance – 0.7%
American International Group, Inc.
	50,000		3.900		04/01/26	48,524
Aon Global Ltd.
	100,000		4.600		06/14/44	87,417
Arch Capital Group Ltd.
	90,000		3.635		06/30/50	65,885
Arch Capital Group US, Inc.
	40,000		5.144		11/01/43	36,157
Assurant, Inc.
	100,000		2.650		01/15/32	76,550
AXIS Specialty Finance LLC
	40,000		3.900		07/15/29	37,139
Berkshire Hathaway Finance Corp.
	150,000		4.250		01/15/49	135,412
Berkshire Hathaway, Inc.
	350,000		3.125		03/15/26	339,866
Brighthouse Financial, Inc.
	40,000		5.625		05/15/30	37,671
	75,000		4.700		06/22/47	55,054
Chubb INA Holdings, Inc.
	150,000		3.350		05/03/26	146,164
	100,000		1.375		09/15/30	79,553

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Insurance – (continued)
CNO Financial Group, Inc.
$	200,000		5.250	%	05/30/29	$       189,750
Fidelity National Financial, Inc.
	230,000		3.400		06/15/30	199,406
Hartford Financial Services Group, Inc. (The)
	30,000		3.600		08/19/49	22,406
Jackson Financial, Inc.
	100,000		3.125		11/23/31	77,700
Marsh & McLennan Cos., Inc.
	80,000		3.500		06/03/24	78,454
	100,000		2.375		12/15/31	82,084
	100,000		4.350		01/30/47	84,547
MetLife, Inc.
	15,000		4.125		08/13/42	12,321
	80,000		4.600		05/13/46	70,003
PartnerRe Finance B LLC
	150,000		3.700		07/02/29	140,497
(US 5 Year CMT T-Note + 3.815%)
	300,000		4.500	(b)	10/01/50	248,130
Prudential Financial, Inc.
	40,000		3.935		12/07/49	31,275
Prudential Financial, Inc., MTN
	15,000		6.625		06/21/40	16,333
	15,000		4.350		02/25/50	12,562
	60,000		3.700		03/13/51	45,071
Radian Group, Inc.
	250,000		4.500		10/01/24	242,500
Reinsurance Group of America, Inc.
	430,000		3.900		05/15/29	397,457
Travelers Cos., Inc. (The)
	150,000		3.750		05/15/46	120,266
Voya Financial, Inc.(b)
(3M USD LIBOR + 2.084%)
	40,000		4.700		01/23/48	32,674
W R Berkley Corp.
	40,000		4.750		08/01/44	35,195
Willis North America, Inc.
	200,000		5.050		09/15/48	171,228
						3,455,251
Metals – 0.2%
Nucor Corp.
	500,000		3.950		05/23/25	490,285
Steel Dynamics, Inc.
	80,000		3.450		04/15/30	71,300
	145,000		3.250		01/15/31	126,513
						688,098

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
REITs and Real Estate – 0.8%
Alexandria Real Estate Equities, Inc.
$	100,000		3.375	%	08/15/31	$         86,134
Brandywine Operating Partnership LP
	100,000		3.950		11/15/27	73,333
CBRE Services, Inc.
	129,000		2.500		04/01/31	103,652
Corporate Office Properties LP
	490,000		2.750		04/15/31	364,748
Digital Realty Trust LP
	40,000		3.700		08/15/27	36,612
Equinix, Inc.
	95,000		3.000		07/15/50	61,188
GLP Capital LP / GLP Financing II, Inc.
	50,000		3.350		09/01/24	48,263
	90,000		5.250		06/01/25	88,054
	40,000		5.750		06/01/28	39,005
	255,000		4.000		01/15/30	223,002
	72,000		4.000		01/15/31	62,254
Healthcare Realty Holdings LP
	410,000		2.000		03/15/31	316,471
Life Storage LP
	140,000		2.400		10/15/31	111,494
Mid-America Apartments LP
	100,000		2.875		09/15/51	63,794
Prologis LP
	80,000		4.000		09/15/28	77,339
	200,000		2.250		04/15/30	170,205
	40,000		1.250		10/15/30	31,089
	120,000		2.125		10/15/50	66,627
Public Storage
	60,000		3.094		09/15/27	56,392
Realty Income Corp.
	200,000		5.625		10/13/32	204,732
Sabra Health Care LP
	85,000		5.125		08/15/26	80,240
	100,000		3.200		12/01/31	74,064
Simon Property Group LP
	200,000		2.450		09/13/29	169,954
	100,000		2.200		02/01/31	80,629
	10,000		6.750		02/01/40	10,828
	250,000		5.850		03/08/53	245,932
UDR, Inc., MTN
	100,000		1.900		03/15/33	73,687
Vornado Realty LP
	220,000		3.500		01/15/25	203,383
Welltower OP LLC
	200,000		4.000		06/01/25	193,919

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
REITs and Real Estate – (continued)
Welltower OP LLC – (continued)
$	200,000		4.250	%	04/15/28	$       190,568
						3,607,592
Revenue – 0.1%
California Institute of Technology
	15,000		3.650		09/01/19	10,204
Hackensack Meridian Health, Inc., Series 2020
	15,000		2.675		09/01/41	10,531
Stanford Health Care
	100,000		3.027		08/15/51	69,395
University of Chicago (The), Series 20B
	40,000		2.761		04/01/45	30,988
Yale University, Series 2020
	190,000		1.482		04/15/30	156,164
	80,000		2.402		04/15/50	51,829
						329,111
Software – 0.3%
Oracle Corp.
	800,000		2.300		03/25/28	709,197
	500,000		4.900		02/06/33	482,472
	300,000		3.600		04/01/40	227,760
Salesforce, Inc.
	20,000		2.900		07/15/51	13,739
						1,433,168
Technology – 1.2%
Adobe, Inc.
	40,000		2.300		02/01/30	35,296
Alphabet, Inc.
	150,000		2.250		08/15/60	89,965
Apple, Inc.
	90,000		3.450		05/06/24	88,498
	400,000		1.800		09/11/24	385,049
	50,000		3.200		05/13/25	48,774
	40,000		2.450		08/04/26	37,829
	15,000		3.350		02/09/27	14,622
	15,000		3.200		05/11/27	14,473
	60,000		2.900		09/12/27	57,100
	40,000		1.650		02/08/31	33,380
	45,000		4.500		02/23/36	46,176
	80,000		3.850		05/04/43	71,070
	80,000		4.450		05/06/44	78,397
	300,000		4.650		02/23/46	298,140
	50,000		3.750		11/13/47	42,796
	300,000		2.650		02/08/51	204,926
	160,000		2.550		08/20/60	103,901
Applied Materials, Inc.
	125,000		3.900		10/01/25	122,726
	256,000		3.300		04/01/27	246,692

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – (continued)
Broadcom, Inc.
$	300,000		4.110	%	09/15/28	$       285,206
	90,000		3.469	(c)	04/15/34	73,814
	60,000		3.187	(c)	11/15/36	44,890
	160,000		3.500	(c)	02/15/41	118,337
Corning, Inc.
	125,000		5.350		11/15/48	120,824
	45,000		4.375		11/15/57	36,324
Fiserv, Inc.
	235,000		4.400		07/01/49	194,132
Hewlett Packard Enterprise Co.
	100,000		6.350		10/15/45	102,205
International Business Machines Corp.
	15,000		5.875		11/29/32	16,162
	150,000		4.150		05/15/39	130,520
	250,000		4.000		06/20/42	207,420
Jabil, Inc.
	80,000		3.600		01/15/30	71,356
KLA Corp.
	60,000		3.300		03/01/50	44,657
Kyndryl Holdings, Inc.
	323,000		2.700		10/15/28	266,738
	100,000		3.150		10/15/31	74,058
	100,000		4.100		10/15/41	64,603
Lam Research Corp.
	40,000		3.125		06/15/60	26,743
Leidos, Inc.
	100,000		4.375		05/15/30	91,500
Microsoft Corp.
	65,000		3.300		02/06/27	63,607
	15,000		3.500		02/12/35	14,145
	203,000		4.200		11/03/35	201,630
	220,000		4.250		02/06/47	213,372
	200,000		4.000		02/12/55	181,757
	20,000		2.675		06/01/60	13,370
Motorola Solutions, Inc.
	624,000		2.750		05/24/31	514,667
NVIDIA Corp.
	250,000		3.500		04/01/50	200,953
QUALCOMM, Inc.
	250,000		4.300		05/20/47	221,154
VeriSign, Inc.
	350,000		2.700		06/15/31	292,688
						5,906,642
Transportation – 0.3%
CSX Corp.
	250,000		4.100		11/15/32	237,804
	100,000		4.500		11/15/52	88,855

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Transportation – (continued)
FedEx Corp.
$	40,000		3.900	%	02/01/35	$         35,096
	300,000		4.750		11/15/45	262,332
	40,000		4.400		01/15/47	33,258
	40,000		4.950		10/17/48	36,143
Norfolk Southern Corp.
	120,000		3.050		05/15/50	81,298
Southwest Airlines Co.
	40,000		5.250		05/04/25	39,777
Union Pacific Corp.
	40,000		3.700		03/01/29	38,443
	70,000		4.050		03/01/46	58,502
	10,000		4.500		09/10/48	8,826
	80,000		3.799		10/01/51	64,905
	60,000		3.839		03/20/60	46,824
	15,000		3.750		02/05/70	11,269
Union Pacific Railroad Co. Pass-Through Trust, Series 2015-1
	181,330		2.695		05/12/27	165,764
United Airlines Pass-Through Trust, Series A
	127,993		2.900		05/01/28	108,363
United Parcel Service, Inc.
	40,000		3.625		10/01/42	33,227
	15,000		4.250		03/15/49	13,258
	15,000		5.300		04/01/50	15,673
						1,379,617
Water – 0.0%
Essential Utilities, Inc.
	100,000		3.351	%	04/15/50	69,268
Wireless – 0.9%
American Tower Corp.
	200,000		3.375		10/15/26	188,590
	40,000		3.950		03/15/29	37,279
	100,000		3.700		10/15/49	70,568
	20,000		3.100		06/15/50	12,812
AT&T, Inc.
	320,000		2.750		06/01/31	270,125
	395,000		2.250		02/01/32	316,704
	250,000		4.500		05/15/35	229,939
	400,000		3.500		06/01/41	304,435
	140,000		3.650		06/01/51	101,369
	100,000		3.300		02/01/52	69,185
	300,000		3.500		09/15/53	209,184
	310,000		3.550		09/15/55	213,112
Crown Castle, Inc.
	40,000		3.300		07/01/30	35,301
	140,000		4.150		07/01/50	109,147
T-Mobile USA, Inc.
	400,000		3.750		04/15/27	379,581

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Wireless – (continued)
T-Mobile USA, Inc. – (continued)
$	400,000		4.500	%	04/15/50	$       340,038
	100,000		5.650		01/15/53	100,303
Verizon Communications, Inc.
	500,000		0.850		11/20/25	454,292
	500,000		2.355		03/15/32	404,066
	350,000		3.400		03/22/41	266,136
	300,000		2.987		10/30/56	185,589
	40,000		3.700		03/22/61	28,636
						4,326,391
TOTAL CORPORATE OBLIGATIONS (Cost $106,578,959)						$  95,804,347
U.S. Treasury Bonds – 7.7%(e)
U.S. Treasury Bonds
$	1,450,000		4.500	%	02/15/36	$    1,584,382
	5,480,000		4.375		02/15/38	5,887,272
	7,889,000		3.875		08/15/40	7,901,327
	13,791,000		2.500		02/15/45	10,724,381
	5,673,000		2.500		05/15/46	4,381,582
	8,946,000		2.250		02/15/52	6,461,521
TOTAL U.S. TREASURY BONDS (Cost $43,489,650)						$  36,940,465
Foreign Corporate Debt – 5.0%
Banks – 2.0%
Banco Bilbao Vizcaya Argentaria SA (Spain)
$	200,000		1.125	%	09/18/25	$       181,107
Banco Santander SA (Spain)
	280,000		3.892		05/24/24	274,698
	200,000		1.849		03/25/26	179,863
	200,000		3.800		02/23/28	184,559
Bank of Montreal(b) (Canada)
(5 Year USD Swap + 1.432%)
	110,000		3.803		12/15/32	98,021
Bank of Montreal, MTN (Canada)
	200,000		2.500		06/28/24	193,985
Barclays PLC (United Kingdom)
	200,000		4.375		09/11/24	195,209
	200,000		5.200		05/12/26	194,282
(US 1 Year CMT T-Note + 3.050%)
	300,000		7.325	(b)	11/02/26	311,777
Credit Suisse Group AG (Switzerland)
	400,000		3.750		03/26/25	377,500
Deutsche Bank AG(b) (Germany)
(SOFR + 1.318%)
	500,000		2.552		01/07/28	436,339

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Export-Import Bank of China/The(c) (China)
$	400,000		3.625	%	07/31/24	$       393,294
Export-Import Bank of Korea (South Korea)
	340,000		2.625		05/26/26	317,886
	300,000		1.250		09/21/30	240,728
	300,000		2.500		06/29/41	221,671
ING Groep NV (Netherlands)
	354,000		4.550		10/02/28	342,819
Korea Development Bank (The) (South Korea)
	300,000		0.800		07/19/26	263,353
	400,000		4.375		02/15/33	393,978
Landwirtschaftliche Rentenbank (Germany)
	15,000		3.125		11/14/23	14,819
	70,000		0.875		03/30/26	63,909
Lloyds Banking Group PLC (United Kingdom)
	300,000		4.375		03/22/28	289,130
Mitsubishi UFJ Financial Group, Inc. (Japan)
	500,000		2.193		02/25/25	472,087
(US 1 Year CMT T-Note + 1.950%)
	500,000		5.017	(b)	07/20/28	495,226
(US 1 Year CMT T-Note + 1.970%)
	400,000		5.406	(b)	04/19/34	403,476
Mizuho Financial Group, Inc. (Japan)
(US 1 Year CMT T-Note + 0.750%)
	200,000		1.554	(b)	07/09/27	177,191
	400,000		3.170		09/11/27	370,419
NatWest Group PLC(b) (United Kingdom)
(US 5 Year CMT T-Note + 2.350%)
	300,000		3.032		11/28/35	232,530
Royal Bank of Canada (Canada)
	285,000		3.875		05/04/32	260,770
Santander UK Group Holdings PLC(b) (United Kingdom)
(SOFR + 1.475%)
	340,000		2.896		03/15/32	276,715
Sumitomo Mitsui Financial Group, Inc. (Japan)
	400,000		3.364		07/12/27	376,476
	400,000		2.930		09/17/41	283,996
Svensk Exportkredit AB, GMTN (Sweden)
	200,000		0.375		07/30/24	189,446
	200,000		0.625		05/14/25	185,004
Toronto-Dominion Bank (The)(b) (Canada)
(5 Year USD Swap + 2.205%)
	375,000		3.625		09/15/31	349,765
Westpac Banking Corp. (Australia)
	200,000		2.850		05/13/26	189,929
	75,000		3.350		03/08/27	71,305

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Westpac Banking Corp. (Australia) – (continued)
$	40,000		2.150	%	06/03/31	$         33,411
(US 5 Year CMT T-Note + 2.000%)
	10,000		4.110	(b)	07/24/34	8,848
(US 5 Year CMT T-Note + 1.530%)
	100,000		3.020	(b)	11/18/36	77,172
						9,622,693
Basic Industry – 0.0%
Nutrien Ltd. (Canada)
	100,000		2.950		05/13/30	87,525
Brokerage – 0.1%
Brookfield Finance, Inc. (Canada)
	150,000		4.350		04/15/30	139,525
	15,000		3.500		03/30/51	9,841
Nomura Holdings, Inc. (Japan)
	300,000		5.709		01/09/26	300,550
						449,916
Capital Goods – 0.0%
Johnson Controls International PLC
	100,000		4.500		02/15/47	85,532
Communications – 0.0%
RELX Capital, Inc. (United Kingdom)
	100,000		3.000		05/22/30	88,654
Consumer Cyclical – 0.1%
Honda Motor Co. Ltd. (Japan)
	400,000		2.534		03/10/27	372,263
Consumer Noncyclical – 0.4%
Ahold Finance USA LLC (Netherlands)
	360,000		6.875		05/01/29	391,270
BAT Capital Corp. (United Kingdom)
	400,000		2.789		09/06/24	385,806
	100,000		3.462		09/06/29	87,248
	80,000		3.984		09/25/50	52,663
	140,000		5.650		03/16/52	118,749
BAT International Finance PLC (United Kingdom)
	50,000		1.668		03/25/26	44,968
Bayer US Finance II LLC (Germany)
	100,000		3.375	(c)	07/15/24	97,635
	15,000		4.200	(c)	07/15/34	13,504
	50,000		4.400	(c)	07/15/44	40,154
	170,000		4.700	(c)	07/15/64	134,467
GlaxoSmithKline Capital, Inc. (United Kingdom)
	200,000		6.375		05/15/38	229,011
Reynolds American, Inc. (United Kingdom)
	250,000		5.850		08/15/45	219,412

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Consumer Noncyclical – (continued)
Takeda Pharmaceutical Co., Ltd. (Japan)
$	250,000		2.050	%	03/31/30	$       209,290
						2,024,177
Consumer Products – 0.0%
Unilever Capital Corp. (United Kingdom)
	100,000		0.626		08/12/24	94,812
Electric – 0.0%
Emera US Finance LP (Canada)
	50,000		4.750		06/15/46	39,986
Energy – 0.5%
BP Capital Markets PLC (United Kingdom)
	300,000		3.279		09/19/27	286,069
Canadian Natural Resources Ltd. (Canada)
	85,000		6.250		03/15/38	87,101
Canadian Natural Resources Ltd., GMTN (Canada)
	100,000		4.950		06/01/47	87,363
Cenovus Energy, Inc. (Canada)
	100,000		2.650		01/15/32	81,075
	50,000		5.250		06/15/37	46,428
Enbridge, Inc. (Canada)
	110,000		3.125		11/15/29	98,473
	15,000		5.500		12/01/46	14,060
(3M USD LIBOR + 3.641%)
	15,000		6.250	(b)	03/01/78	13,763
Equinor ASA (Norway)
	140,000		1.750		01/22/26	130,214
	40,000		3.625		09/10/28	38,675
	210,000		3.125		04/06/30	192,927
	510,000		3.700		04/06/50	411,898
Shell International Finance BV (Netherlands)
	40,000		2.000		11/07/24	38,479
	55,000		3.250		05/11/25	53,592
	75,000		4.375		05/11/45	66,610
	462,000		4.000		05/10/46	385,671
TotalEnergies Capital International SA (France)
	250,000		2.434		01/10/25	240,192
	185,000		3.455		02/19/29	174,592
	100,000		3.127		05/29/50	71,358
						2,518,540
Financial Company – 0.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland)
	455,000		3.300		01/30/32	369,565
Food and Beverage – 0.3%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium)
	180,000		4.900		02/01/46	171,073

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Food and Beverage – (continued)
Anheuser-Busch InBev Finance, Inc. (Belgium)
$	55,000		4.700	%	02/01/36	$         53,875
	100,000		4.900		02/01/46	95,193
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
	300,000		3.500		06/01/30	281,067
	46,000		4.375		04/15/38	43,160
	40,000		4.600		04/15/48	36,735
	40,000		5.550		01/23/49	41,937
	500,000		4.500		06/01/50	451,995
	90,000		4.750		04/15/58	83,090
						1,258,125
Forest Products & Paper – 0.1%
Suzano Austria GmbH (Brazil)
	200,000		5.000		01/15/30	186,287
Suzano Austria GmbH, Series DM3N (Brazil)
	120,000		3.125		01/15/32	95,083
						281,370
Insurance – 0.1%
Fairfax Financial Holdings Ltd. (Canada)
	400,000		3.375		03/03/31	335,922
Internet – 0.3%
Alibaba Group Holding Ltd. (China)
	440,000		3.400		12/06/27	412,311
Baidu, Inc. (China)
	690,000		1.720		04/09/26	623,593
JD.com, Inc. (China)
	200,000		3.875		04/29/26	192,984
						1,228,888
Media – 0.0%
Grupo Televisa SAB (Mexico)
	100,000		6.625		03/18/25	101,618
Metals and Mining – 0.0%
Rio Tinto Finance USA PLC (Australia)
	200,000		5.125		03/09/53	198,302
Mining – 0.0%
Southern Copper Corp. (Mexico)
	55,000		3.875		04/23/25	53,496
	100,000		5.875		04/23/45	101,472
Teck Resources Ltd. (Canada)
	40,000		6.250		07/15/41	40,070
						195,038
Oil Company-Integrated – 0.4%
Ecopetrol SA (Colombia)
	200,000		8.875		01/13/33	195,250
Petroleos Mexicanos (Mexico)
	225,000		6.875		08/04/26	205,263

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Oil Company-Integrated – (continued)
Petroleos Mexicanos (Mexico) – (continued)
$	100,000		5.350	%	02/12/28	$         80,851
	250,000		5.950		01/28/31	179,687
	250,000		10.000	(c)	02/07/33	224,560
	140,000		6.950		01/28/60	83,471
QatarEnergy(c) (Qatar)
	400,000		3.300		07/12/51	289,423
Saudi Arabian Oil Co. (Saudi Arabia)
	200,000		2.875	(c)	04/16/24	195,705
	300,000		2.250	(c)	11/24/30	251,393
						1,705,603
Pharmaceuticals – 0.1%
Astrazeneca Finance LLC (United Kingdom)
	350,000		2.250		05/28/31	297,921
Technology – 0.1%
NXP BV / NXP Funding LLC (China)
	40,000		5.350		03/01/26	40,027
NXP BV / NXP Funding LLC / NXP USA, Inc. (China)
	120,000		3.400		05/01/30	106,697
	244,000		2.500		05/11/31	199,645
	375,000		5.000		01/15/33	361,711
						708,080
Telecommunications – 0.1%
America Movil SAB de CV (Mexico)
	280,000		3.625		04/22/29	257,571
	200,000		2.875		05/07/30	174,096
						431,667
Transportation – 0.1%
Canadian National Railway Co. (Canada)
	40,000		4.450		01/20/49	36,236
Canadian Pacific Railway Co. (Canada)
	250,000		2.450		12/02/31	220,804
						257,040
Wireless – 0.1%
Rogers Communications, Inc.(c) (Canada)
	170,000		4.500		03/15/42	140,124
Vodafone Group PLC (United Kingdom)
	250,000		4.125		05/30/25	245,428
	300,000		4.375		05/30/28	294,672
						680,224
Wirelines – 0.1%
Bell Telephone Co of Canada or Bell Canada/The (Canada)
	80,000		4.300		07/29/49	65,846
Deutsche Telekom International Finance BV (Germany)
	15,000		8.750		06/15/30	18,077

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Wirelines – (continued)
Orange SA (France)
$	140,000		9.000	%	03/01/31	$       174,929
						258,852
TOTAL FOREIGN CORPORATE DEBT (Cost $25,585,807)						$  23,692,313
Sovereign Debt Obligations – 2.3%
Sovereign – 2.3%
Abu Dhabi Government International Bond (United Arab Emirates)
$	340,000		2.125	%(c)	09/30/24	$       326,474
	200,000		2.500	(c)	04/16/25	191,994
	200,000		1.625	(c)	06/02/28	177,764
	200,000		2.700	(c)	09/02/70	121,427
Chile Government International Bond (Chile)
	400,000		2.750		01/31/27	376,237
	200,000		2.450		01/31/31	174,745
	600,000		3.500		01/25/50	448,100
China Government International Bond(c) (China)
	200,000		0.750		10/26/24	189,793
Colombia Government International Bond (Colombia)
	200,000		3.875		04/25/27	181,033
	200,000		4.500		03/15/29	174,838
	100,000		6.125		01/18/41	79,567
	220,000		5.000		06/15/45	147,492
Hungary Government International Bond(c) (Hungary)
	300,000		6.125		05/22/28	305,518
Indonesia Government International Bond (Indonesia)
	200,000		3.850		10/15/30	190,062
	200,000		4.650		09/20/32	198,726
	300,000		4.850		01/11/33	304,133
	200,000		5.650		01/11/53	210,467
Malaysia Sovereign Sukuk BHD(c) (Malaysia)
	300,000		3.043		04/22/25	291,762
Mexico Government International Bond (Mexico)
	400,000		4.150		03/28/27	393,622
	250,000		3.250		04/16/30	223,097
	400,000		4.750		04/27/32	383,758
	250,000		3.500		02/12/34	211,127
	320,000		3.771		05/24/61	215,078
Panama Government International Bond (Panama)
	250,000		6.700		01/26/36	268,125
	360,000		4.500		04/01/56	269,100
	400,000		4.500		01/19/63	290,000
Perusahaan Penerbit SBSN Indonesia III (Indonesia)
	400,000		4.550	(c)	03/29/26	400,000
	200,000		2.800	(c)	06/23/30	179,250
	400,000		2.550	(c)	06/09/31	347,500

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Sovereign – (continued)
Peruvian Government International Bond (Peru)
$	200,000		2.783	%	01/23/31	$       171,088
	350,000		1.862		12/01/32	266,009
	100,000		8.750		11/21/33	126,592
	100,000		3.300		03/11/41	75,049
Philippine Government International Bond (Philippines)
	200,000		3.750		01/14/29	192,422
	400,000		2.457		05/05/30	348,679
	220,000		5.609		04/13/33	234,909
	250,000		6.375		10/23/34	281,775
Province of Alberta Canada (Canada)
	50,000		3.300		03/15/28	48,194
Province of Ontario Canada (Canada)
	30,000		1.050		05/21/27	26,606
	30,000		1.600		02/25/31	25,120
Province of Quebec Canada (Canada)
	90,000		0.600		07/23/25	83,009
	25,000		2.750		04/12/27	23,730
Qatar Government International Bond (Qatar)
	280,000		3.400	(c)	04/16/25	273,513
	200,000		4.817	(c)	03/14/49	191,423
Republic of Poland Government International Bond (Poland)
	30,000		3.250		04/06/26	29,190
	100,000		5.750		11/16/32	106,367
Romanian Government International Bond (Romania)
	16,000		3.000	(c)	02/14/31	13,231
	50,000		5.125	(c)	06/15/48	41,088
Saudi Government International Bond (Saudi Arabia)
	300,000		2.900	(c)	10/22/25	288,290
	500,000		4.875	(c)	07/18/33	505,175
	300,000		5.000	(c)	01/18/53	278,088
Uruguay Government International Bond (Uruguay)
	15,000		4.375		01/23/31	15,000
	250,000		5.100		06/18/50	246,406
						11,161,742
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $11,806,463)						$  11,161,742
U.S. Treasury Obligations – 4.5%(e)
U.S. Treasury Bonds
$	14,386,000		2.750	%	08/15/42	$  11,941,805
	4,940,000		2.375		11/15/49	3,692,215
	8,551,000		2.000		02/15/50	5,861,705
TOTAL U.S. TREASURY OBLIGATIONS (Cost $23,508,692)						$  21,495,725

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares	Dividend Rate		Value
Investment Company – 9.2%(f)
Goldman Sachs Financial Square Government Fund – Institutional Shares
44,019,538		5.003%		$  44,019,538
(Cost $44,019,538)
TOTAL INVESTMENTS – 113.6% (Cost $568,242,626)				$542,651,274
LIABILITIES IN EXCESS OF     ASSETS – (13.6)%				(64,924,820)
NET ASSETS – 100.0%				$477,726,454

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $74,006,274 which represents approximately 15.5% of the Fund’s net assets as of May 31, 2023.
(b)	Variable rate security. Interest rate or distribution rate disclosed is that which is in effect on May 31, 2023.
(c)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(d)	Step coupon.
(e)	Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.
(f)	Represents an affiliated issuer.

Investment Abbreviations:
CMT	— Constant Maturity Treasury Index
GMTN	— Global Medium Term Note
LIBOR	— London Interbank Offered Rate
LP	— Limited Partnership
MTN	— Medium Term Note
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust
SOFR	— Secured Overnight Financing Rate
SOFRINDX	— Secured Overnight Financing Rate Index

GOLDMAN SACHS ACCESS U.S. AGGREGATE BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At May 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate			Maturity Date(a)		Settlement Date		Principal Amount			Value
Federal National Mortgage Association		2.000	%		TBA-30yr		06/15/53	$	(14,000,000	)	$	(11,506,250	)
Federal National Mortgage Association		5.000			TBA-30yr		06/15/53		(15,000,000	)		(14,751,563	)
Total (Proceed Receivable $(26,601,641))											$	(26,257,813	)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – 21.9%
Access to Loans for Learning Student Loan Corp., Series 2010-I, Class A3(a)
(3M USD LIBOR + 0.800%)
$	462,333		6.055	%	04/25/37	$       463,475
Access to Loans for Learning Student Loan Corp., Series 2012-1, Class A(a)
(1M USD LIBOR + 0.700%)
	15,848		5.838		07/25/36	15,751
Ally Auto Receivables Trust, Series 2022-1, Class A3
	3,170,000		3.310		11/15/26	3,087,087
American Express Credit Account Master Trust, Series 2022-2, Class A
	6,000,000		3.390		05/15/27	5,827,486
Anchorage Capital CLO Ltd., Series 2014-4RA, Class A(a)(b)
(3M USD LIBOR + 1.050%) (Cayman Islands)
	946,072		6.323		01/28/31	936,514
Atlas Senior Loan Fund III Ltd., Series 2013-1A, Class AR(a)(b)
(3M USD LIBOR + 0.830%) (Cayman Islands)
	37,554		6.160		11/17/27	37,360
BA Credit Card Trust, Series 2021-A1, Class A1
	500,000		0.440		09/15/26	477,716
BA Credit Card Trust, Series 2022-A2, Class A2
	2,100,000		5.000		04/15/28	2,112,093
Barclays Dryrock Issuance Trust, Series 2021-1, Class A
	2,400,000		0.630		07/15/27	2,255,009
Barings CLO Ltd., Series 2018-3A, Class A1(a)(b)
(3M USD LIBOR + 0.950%) (Cayman Islands)
	209,342		6.200		07/20/29	208,137
BBCMS Mortgage Trust, Series 2018-C2, Class ASB
	575,963		4.236		12/15/51	551,784
BlueMountain CLO Ltd., Series 2017-2A, Class A1R(a)(b)
(3M USD LIBOR + 1.180%) (Cayman Islands)
	874,206		6.453		10/22/30	866,914
BSPDF Issuer Ltd., Series 2021-FL1, Class A(a)(b)
(1M USD LIBOR + 1.200%) (Cayman Islands)
	1,150,000		6.307		10/15/36	1,114,628
BX, Series 2021-MFM1, Class A(a)(b)
(1M U.S. T-Bill MMY + 0.810%)
	90,425		5.874		01/15/34	88,222
BX Trust, Series 2021-ARIA, Class A(a)(b)
(1M USD LIBOR + 0.899%)
	1,300,000		6.006		10/15/36	1,257,646
BXHPP Trust, Series 2021-FILM, Class A(a)(b)
(1M USD LIBOR + 0.650%)
	1,850,000		5.757		08/15/36	1,751,205

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
CARDS II Trust, Series 2021-1A, Class A(b) (Canada)
$	3,125,000		0.602	%	04/15/27	$    2,986,209
Carlyle US CLO Ltd., Series 2017-2A, Class A1R(a)(b)
(3M USD LIBOR + 1.050%) (Cayman Islands)
	2,000,000		6.300		07/20/31	1,976,462
CIFC Funding Ltd., Series 2017-3A, Class A1(a)(b)
(3M USD LIBOR + 1.220%) (Cayman Islands)
	2,182,712		6.470		07/20/30	2,166,385
CIFC Funding Ltd., Series 2021-2A, Class AR(a)(b)
(3M USD LIBOR + 0.950%) (Cayman Islands)
	489,355		6.200		04/20/30	483,804
Citigroup Commercial Mortgage Trust, Series 2014-GC19, Class A4
	2,400,000		4.023		03/11/47	2,361,458
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class A5
	600,000		3.855		05/10/47	586,395
Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class AAB
	132,349		2.984		04/10/48	129,437
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A4
	3,000,000		3.778		09/10/58	2,843,795
COMM Mortgage Trust, Series 2013-CR12, Class A4
	800,000		4.046		10/10/46	780,872
COMM Mortgage Trust, Series 2015-CR24, Class ASB
	215,663		3.445		08/10/48	207,699
COMM Mortgage Trust, Series 2015-CR26, Class ASB
	450,902		3.373		10/10/48	438,230
DBJPM Mortgage Trust, Series 2016-C3, Class ASB
	229,208		2.756		08/10/49	218,671
Discover Card Execution Note Trust, Series 2017-A5, Class A5(a)
(1M USD LIBOR + 0.600%)
	2,000,000		5.707		12/15/26	2,000,371
Discover Card Execution Note Trust, Series 2023-A1, Class A
	2,925,000		4.310		03/15/28	2,891,450
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR(a)(b)
(3M USD LIBOR + 0.900%) (Cayman Islands)
	209,523		6.160		04/15/29	207,526
Edsouth Indenture No 3 LLC, Series 2012-2, Class A(a)(b)
(1M USD LIBOR + 0.730%)
	20,017		5.868		04/25/39	19,986

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Educational Funding of the South, Inc., Series 2011-1, Class A2(a)
(3M USD LIBOR + 0.650%)
$	307,461		5.905	%	04/25/35	$       306,569
EFS Volunteer LLC, Series 2010-1, Class A2(a)(b)
(3M USD LIBOR + 0.850%)
	211,382		6.105		10/25/35	211,264
Extended Stay America Trust, Series 2021-ESH, Class A(a)(b)
(1M USD LIBOR + 1.080%)
	1,411,966		6.188		07/15/38	1,381,962
Flatiron CLO 19 Ltd., Series 2021-1A, Class AR(a)(b)
(3M USD LIBOR + 1.080%) (Cayman Islands)
	1,000,000		6.398		11/16/34	981,494
Ford Credit Auto Owner Trust, Series 2018-2, Class A(b)
	1,500,000		3.470		01/15/30	1,496,050
Ford Credit Auto Owner Trust 2022-A, Series 2022-A, Class A3
	3,000,000		1.290		06/15/26	2,875,466
GM Financial Consumer Automobile Receivables Trust, Series 2019-4, Class A4
	2,068,049		1.760		01/16/25	2,061,258
GM Financial Consumer Automobile Receivables Trust, Series 2022-1, Class A3
	4,520,000		1.260		11/16/26	4,304,094
GMF Floorplan Owner Revolving Trust, Series 2020-2, Class A(b)
	1,000,000		0.690		10/15/25	980,949
Goal Capital Funding Trust, Series 2010-1, Class A(a)(b)
(3M USD LIBOR + 0.700%)
	138,577		6.096		08/25/48	134,875
Great Wolf Trust, Series 2019-WOLF, Class A(a)(b)
(1M U.S. T-Bill MMY + 1.150%)
	3,250,000		6.208		12/15/36	3,206,643
GS Mortgage Securities Trust, Series 2014-GC18, Class A4
	4,500,000		4.074		01/10/47	4,425,467
HalseyPoint CLO Ltd., Series 2020-3A, Class A1A(a)(b)
(3M USD LIBOR + 1.450%) (Cayman Islands)
	500,000		6.749		11/30/32	493,663
Hayfin US Ltd., Series 2018-8A, Class A(a)(b)
(3M USD LIBOR + 1.120%) (Cayman Islands)
	3,000,000		6.370		04/20/31	2,951,154
Honda Auto Receivables 2021-3 Owner Trust, Series 2021-3, Class A3
	1,029,670		0.410		11/18/25	990,201
Honda Auto Receivables 2021-4 Owner Trust, Series 2021-4, Class A3
	2,500,000		0.880		01/21/26	2,390,002

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Honda Auto Receivables 2023-2 Owner Trust, Series 2023-2, Class A2
$	1,900,000		5.410	%	04/15/26	$    1,903,059
Hyundai Auto Lease Securitization Trust 2022-A, Series 2022-A, Class A4(b)
	3,800,000		1.320		12/15/25	3,646,933
Hyundai Auto Lease Securitization Trust 2023-B, Series 2023-B, Class A2A(b)
	1,800,000		5.470		09/15/25	1,799,344
Hyundai Auto Receivables Trust 2020-C, Series 2020-C, Class A4
	4,000,000		0.490		11/16/26	3,759,249
Hyundai Auto Receivables Trust 2021-C, Series 2021-C, Class A3
	1,939,000		0.740		05/15/26	1,856,595
Hyundai Auto Receivables Trust 2022-C, Series 2022-C, Class A3
	3,625,000		5.390		06/15/27	3,647,513
ICG US CLO Ltd., Series 2018-1A, Class A1R(a)(b)
(3M USD LIBOR + 1.140%) (Cayman Islands)
	468,973		6.405		10/19/28	463,677
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2013-C13, Class A4(a)
	57,031		3.994		01/15/46	56,924
JPMBB Commercial Mortgage Securities Trust, Series 2014-C18, Class ASB
	57,890		3.566		02/15/47	57,463
KKR Industrial Portfolio Trust, Series 2021-KDIP, Class A(a)(b)
(1M U.S. T-Bill MMY + 0.660%)
	409,014		5.724		12/15/37	401,860
LCM XV LP, Series 2021-15A, Class AR2(a)(b)
(3M USD LIBOR + 1.000%) (Cayman Islands)
	1,920,216		6.250		07/20/30	1,900,027
LCM XX LP, Series 2018-20A, Class AR(a)(b)
(3M USD LIBOR + 1.040%) (Cayman Islands)
	251,091		6.290		10/20/27	250,380
Madison Park Funding Ltd., Series 2021-37A, Class AR(a)(b)
(3M USD LIBOR + 1.070%) (Cayman Islands)
	1,500,000		6.330		07/15/33	1,477,525
Madison Park Funding XLI Ltd., Series 2017-12A, Class AR(a)(b)
(3M USD LIBOR + 0.830%) (Cayman Islands)
	144,578		6.103		04/22/27	143,395
Marathon CLO Ltd., Series 2021-1A, Class AANR(a)(b)
(3M USD LIBOR + 1.320%) (Cayman Islands)
	2,200,000		6.580		04/15/32	2,167,053
Master Credit Card Trust, Series 2021-1A, Class A(b) (Canada)
	1,400,000		0.530		11/21/25	1,330,241

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Mercedes-Benz Auto Lease Trust 2021-B, Series 2021-B, Class A3
$	648,854		0.400	%	11/15/24	$       636,862
Mercedes-Benz Auto Receivables Trust 2022-1, Series 2022-1, Class A2
	955,969		5.260		10/15/25	953,566
Morgan Stanley Capital I Trust, Series 2016-BNK2, Class ASB
	497,579		2.860		11/15/49	476,361
Nelnet Student Loan Trust, Series 2014-2A, Class A2(a)(b)
(1M USD LIBOR + 0.600%)
	58,112		5.738		03/25/30	58,037
Nelnet Student Loan Trust, Series 2016-1A, Class A(a)(b)
(1M USD LIBOR + 0.800%)
	350,227		5.938		09/25/65	346,189
Northstar Education Finance, Inc., Series 2012-1, Class A(a)(b)
(1M USD LIBOR + 0.700%)
	44,804		5.838		12/26/31	44,578
NorthStar Student Loan Trust III, Series 2016-1, Class A(a)(b)
(1M USD LIBOR + 1.250%)
	247,055		6.388		05/27/36	247,174
ONE PARK Mortgage Trust, Series 2021-PARK, Class A(a)(b)
(1M U.S. T-Bill MMY + 0.810%)
	908,000		5.874		03/15/36	852,719
OZLM Ltd., Series 2017-11A, Class A1R(a)(b)
(3M USD LIBOR + 1.250%) (Cayman Islands)
	197,067		6.549		10/30/30	195,460
Regata Funding Ltd., Series 2021-1A, Class AR(a)(b)
(3M USD LIBOR + 1.100%) (Cayman Islands)
	2,000,000		6.360		10/15/32	1,964,992
Rhode Island Student Loan Authority, Series 2012-1, Class A1(a)
(1M USD LIBOR + 0.900%)
	596,708		6.070		07/01/31	596,248
Rhode Island Student Loan Authority, Series 2014-1, Class A1(a)
(1M USD LIBOR + 0.700%)
	71,995		5.870		10/02/28	70,274
Shackleton 2015-VIII CLO Ltd., Series 2017-8A, Class A2R(a)(b)
(3M USD LIBOR + 0.920%) (Cayman Islands)
	139,519		6.170		10/20/27	138,781
SLC Student Loan Trust, Series 2005-5, Class A4(a)
(3M USD LIBOR + 0.140%)
	49,285		5.395		10/25/28	49,215
SLC Student Loan Trust, Series 2007-1, Class A4(a)
(3M USD LIBOR + 0.060%)
	829,845		5.381		05/15/29	824,634
SLC Student Loan Trust, Series 2010-1, Class A(a)
(3M USD LIBOR + 0.875%)
	189,582		6.271		11/25/42	187,706

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
SLM Student Loan Trust, Series 2005-7, Class A4(a)
(3M USD LIBOR + 0.150%)
$	51,854		5.405	%	10/25/29	$         51,625
SLM Student Loan Trust, Series 2018-10, Class A7B(a)(b)
(3M USD LIBOR + 0.600%)
	59,019		5.855		10/25/29	58,913
SOUND POINT CLO XXII Ltd., Series 2019-1A, Class AR(a)(b)
(3M USD LIBOR + 1.080%) (Cayman Islands)
	600,000		6.330		01/20/32	588,061
State of Illinois
	567,273		4.950		06/01/23	567,273
Stratus CLO 2021-2 Ltd., Series 2021-2A, Class A(a)(b)
(3M USD LIBOR + 0.900%) (Cayman Islands)
	3,701,892		6.150		12/28/29	3,664,892
STWD Trust, Series 2021-FLWR, Class A(a)(b)
(1M USD LIBOR + 0.577%)
	1,350,000		5.684		07/15/36	1,302,752
Sycamore Tree CLO 2023-2 Ltd., Series 2023-2A, Class A(a)(b)
(3M U.S. T-Bill MMY + 2.330%) (Cayman Islands)
	2,200,000		7.237		04/20/35	2,196,698
TCW CLO 2019-2 Ltd., Series 2022-2A, Class A1R(a)(b)
(3M U.S. T-Bill MMY + 1.280%) (Cayman Islands)
	3,500,000		6.329		10/20/32	3,440,720
TCW CLO AMR Ltd., Series 2021-1A, Class ASNR(a)(b)
(3M USD LIBOR + 1.220%) (Cayman Islands)
	1,100,000		6.538		08/16/34	1,073,205
TCW CLO Ltd., Series 2022-1A, Class A1(a)(b)
(3M U.S. T-Bill MMY + 1.340%) (Cayman Islands)
	3,500,000		6.411		04/22/33	3,420,494
Toyota Auto Receivables 2021-D Owner Trust, Series 2021-D, Class A3
	2,305,000		0.710		04/15/26	2,203,987
Toyota Auto Receivables 2022-D Owner Trust, Series 2022-D, Class A3
	1,825,000		5.300		09/15/27	1,836,047
Tralee CLO II Ltd., Series 2017-1A, Class AR(a)(b)
(3M USD LIBOR + 1.320%) (Cayman Islands)
	231,789		6.570		07/20/29	230,373
Trimaran Cavu Ltd., Series 2021-1A, Class A(a)(b)
(3M USD LIBOR + 1.210%) (Cayman Islands)
	1,000,000		6.483		04/23/32	981,278
Trysail CLO Ltd., Series 2021-1A, Class A1(a)(b)
(3M USD LIBOR + 1.320%) (Cayman Islands)
	3,000,000		6.570		07/20/32	2,953,494
Voya CLO 2019-2 Ltd., Series 2019-2A, Class A(a)(b)
(3M USD LIBOR + 1.270%) (Cayman Islands)
	700,000		6.520		07/20/32	691,422

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Voya CLO Ltd., Series 2015-1A, Class A1R(a)(b)
(3M USD LIBOR + 0.900%) (Cayman Islands)
$	143,971		6.162	%	01/18/29	$       142,753
Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class ASB
	69,077		3.487		11/15/48	66,785
World Omni Automobile Lease Securitization Trust 2023-A, Series 2023-A, Class A2A
	1,400,000		5.470		11/17/25	1,399,412
Zais CLO Ltd., Series 2021-15A, Class A1R(a)(b)
(3M USD LIBOR + 1.350%) (Cayman Islands)
	1,000,000		6.623		07/28/32	978,985
TOTAL ASSET- BACKED SECURITIES (Cost $132,529,541)						$130,894,091
Mortgage-Backed Securities – 17.0%
Federal Home Loan Mortgage Corporation Series MTN
$	1,438,000		5.400	%	06/11/24	$    1,431,879
	1,438,000		5.380		06/12/24	1,431,891
FHLMC REMIC(a) (12M USD LIBOR + 1.803%)
	3,541,868		4.134		10/01/43	3,603,478
FHLMC REMIC(a) (12M USD LIBOR + 1.618%)
	7,067,212		4.080		01/01/46	7,165,601
FHLMC REMIC(a) (12M USD LIBOR + 1.773%)
	668,878		3.974		10/01/44	676,770
FHLMC REMIC Series 2003-2682, Class FB(a) (1M USD LIBOR + 0.900%)
	157,906		6.007		10/15/33	158,226
FHLMC REMIC Series 2003-2711, Class FA(a) (1M USD LIBOR + 1.000%)
	165,760		6.107		11/15/33	168,696
FHLMC REMIC Series 2005-3033, Class FG(a) (1M USD LIBOR + 0.350%)
	464,330		5.457		09/15/35	456,961
FHLMC REMIC Series 2007-3298, Class FC(a) (1M USD LIBOR + 0.420%)
	129,388		5.527		04/15/37	126,903
FHLMC REMIC Series 2007-3314, Class FC(a) (1M USD LIBOR + 0.400%)
	22,265		5.507		12/15/36	21,914
FHLMC REMIC Series 2007-3316, Class FB(a) (1M USD LIBOR + 0.300%)
	542,916		5.407		08/15/35	533,611
FHLMC REMIC Series 2007-3371, Class FA(a) (1M USD LIBOR + 0.600%)
	106,324		5.707		09/15/37	105,366
FHLMC REMIC Series 2009-3593, Class CF(a) (1M USD LIBOR + 0.600%)
	1,215,768		5.707		02/15/36	1,213,780
FHLMC REMIC Series 2011-3895, Class FM(a) (1M USD LIBOR + 0.350%)
	46,643		5.457		12/15/40	46,527
FHLMC REMIC Series 2012-4040, Class FW(a) (1M USD LIBOR + 0.370%)
	350,966		5.477		05/15/32	347,771
FHLMC REMIC Series 2012-4057, Class FE(a) (1M USD LIBOR + 0.450%)
	724,449		5.557		06/15/42	715,324

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – (continued)
FHLMC REMIC Series 2012-4068, Class UF(a) (1M USD LIBOR + 0.500%)
$	183,799		5.607	%	06/15/42	$       179,539
FHLMC REMIC Series 2012-4098, Class MF(a) (1M USD LIBOR + 0.300%)
	167,377		5.407		11/15/41	165,670
FHLMC REMIC Series 2012-4107, Class MF(a) (1M USD LIBOR + 0.400%)
	1,570,212		5.507		09/15/42	1,541,101
FHLMC REMIC Series 2012-4126, Class GF(a) (1M USD LIBOR + 0.400%)
	2,018,626		5.507		11/15/42	1,979,087
FHLMC REMIC Series 2013-4203, Class QF(a) (1M USD LIBOR + 0.250%)
	1,053,011		5.357		05/15/43	1,029,344
FHLMC REMIC Series 2013-4215, Class NF(a) (1M USD LIBOR + 0.350%)
	720,246		5.457		06/15/43	700,882
FHLMC REMIC Series 2013-4240, Class FA(a) (1M USD LIBOR + 0.500%)
	2,489,669		5.607		08/15/43	2,433,862
FHLMC REMIC Series 2013-4248, Class FL(a) (1M USD LIBOR + 0.450%)
	77,290		5.557		05/15/41	76,270
FHLMC REMIC Series 2013-4263, Class FB(a) (1M USD LIBOR + 0.400%)
	56,338		5.507		11/15/43	55,182
FHLMC REMIC Series 2013-4272, Class FD(a) (1M USD LIBOR + 0.350%)
	61,535		5.457		11/15/43	60,620
FHLMC REMIC Series 2017-4678, Class AF(a) (1M USD LIBOR + 0.400%)
	1,757,803		4.104		12/15/42	1,736,113
FHLMC REMIC Series 2017-4719, Class AF(a) (1M USD LIBOR + 0.350%)
	3,018,810		5.457		09/15/47	2,941,994
FHLMC REMIC Series 2018-4787, Class ZS
	765,539		5.000		07/01/48	766,106
FHLMC REMIC Series 2018-4818, Class FC(a) (1M USD LIBOR + 0.300%)
	203,356		5.407		04/15/48	195,918
FHLMC REMIC Series 2018-4852, Class BF(a) (1M USD LIBOR + 0.400%)
	1,322,774		5.507		12/15/48	1,288,221
FHLMC REMIC Series 2019-4897, Class F(a) (1M USD LIBOR + 0.400%)
	1,119,762		5.507		07/15/49	1,096,592
FHLMC REMIC Series 2019-4903, Class F(a) (1M USD LIBOR + 0.450%)
	171,514		5.557		09/15/48	166,489
FHLMC REMIC Series 2019-4906, Class NF(a) (1M USD LIBOR + 0.400%)
	1,464,938		4.270		03/15/38	1,427,092
FHLMC REMIC Series 2019-4942, Class FA(a) (1M USD LIBOR + 0.500%)
	1,072,108		5.638		01/25/50	1,040,733
FHLMC REMIC Series 2020-5002, Class FJ(a) (1M USD LIBOR + 0.400%)
	185,103		5.538		07/25/50	179,263
FHLMC REMIC Series 2020-5031, Class FA(a) (SOFR + 0.300%)
	2,415,702		5.172		08/15/43	2,318,359
FHLMC STRIPS Series 2006-239, Class F22(a) (1M USD LIBOR + 0.350%)
	162,260		5.457		08/15/36	159,535
FHLMC STRIPS Series 2006-239, Class F30(a) (1M USD LIBOR + 0.300%)
	405,649		5.407		08/15/36	398,908
FNMA REMIC Series 2002-53, Class FY(a) (1M USD LIBOR + 0.500%)
	192,920		5.638		08/25/32	191,924

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – (continued)
FNMA REMIC Series 2004-54, Class FL(a) (1M USD LIBOR + 0.400%)
$	100,149		5.538	%	07/25/34	$         99,675
FNMA REMIC Series 2004-54, Class FN(a) (1M USD LIBOR + 0.450%)
	256,874		5.588		07/25/34	255,180
FNMA REMIC Series 2005-103, Class FC(a) (1M USD LIBOR + 0.500%)
	8,043,089		5.638		07/25/35	7,969,703
FNMA REMIC Series 2005-120, Class FE(a) (1M USD LIBOR + 0.520%)
	383,681		5.658		01/25/36	380,136
FNMA REMIC Series 2005-87, Class FE(a) (1M USD LIBOR + 0.450%)
	404,263		5.588		10/25/35	399,785
FNMA REMIC Series 2006-110, Class AF(a) (1M USD LIBOR + 0.330%)
	2,228,043		5.468		11/25/36	2,191,753
FNMA REMIC Series 2006-16, Class FC(a) (1M USD LIBOR + 0.300%)
	98,101		5.438		03/25/36	96,883
FNMA REMIC Series 2006-36, Class FB(a) (1M USD LIBOR + 0.300%)
	43,035		5.438		05/25/36	42,229
FNMA REMIC Series 2006-42, Class PF(a) (1M USD LIBOR + 0.410%)
	84,373		5.548		06/25/36	83,404
FNMA REMIC Series 2006-44, Class FP(a) (1M USD LIBOR + 0.400%)
	899,270		5.538		06/25/36	887,859
FNMA REMIC Series 2006-61, Class FD(a) (1M USD LIBOR + 0.360%)
	160,810		5.498		07/25/36	158,235
FNMA REMIC Series 2006-79, Class DF(a) (1M USD LIBOR + 0.350%)
	377,632		5.488		08/25/36	372,791
FNMA REMIC Series 2006-88, Class AF(a) (1M USD LIBOR + 0.460%)
	338,019		5.598		09/25/36	333,796
FNMA REMIC Series 2007-35, Class PF(a) (1M USD LIBOR + 0.250%)
	60,397		5.388		04/25/37	59,137
FNMA REMIC Series 2007-67, Class FB(a) (1M USD LIBOR + 0.320%)
	141,641		5.458		07/25/37	138,810
FNMA REMIC Series 2008-1, Class CF(a) (1M USD LIBOR + 0.700%)
	43,592		5.838		02/25/38	43,288
FNMA REMIC Series 2009-110, Class FG(a) (1M USD LIBOR + 0.750%)
	192,611		5.888		01/25/40	192,393
FNMA REMIC Series 2010-113, Class FA(a) (1M USD LIBOR + 0.400%)
	135,070		5.538		10/25/40	133,450
FNMA REMIC Series 2010-116, Class FE(a) (1M USD LIBOR + 0.400%)
	168,375		5.538		10/25/40	166,188
FNMA REMIC Series 2010-141, Class FB(a) (1M USD LIBOR + 0.470%)
	102,490		5.608		12/25/40	100,981
FNMA REMIC Series 2010-15, Class FJ(a) (1M USD LIBOR + 0.930%)
	328,096		6.068		06/25/36	329,824
FNMA REMIC Series 2010-39, Class FE(a) (1M USD LIBOR + 0.770%)
	515,358		5.908		06/25/37	515,283
FNMA REMIC Series 2010-39, Class FG(a) (1M USD LIBOR + 0.920%)
	224,741		6.058		03/25/36	225,857
FNMA REMIC Series 2010-46, Class WF(a) (1M USD LIBOR + 0.750%)
	1,598,319		5.888		05/25/40	1,586,994

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – (continued)
FNMA REMIC Series 2010-49, Class FB(a) (1M USD LIBOR + 0.750%)
$	153,002		5.888	%	05/25/40	$       152,381
FNMA REMIC Series 2010-59, Class FN(a) (1M USD LIBOR + 0.730%)
	1,730,952		5.868		06/25/40	1,721,285
FNMA REMIC Series 2011-53, Class FT(a) (1M USD LIBOR + 0.580%)
	147,847		5.718		06/25/41	146,377
FNMA REMIC Series 2011-87, Class FJ(a) (1M USD LIBOR + 0.550%)
	137,281		5.688		09/25/41	134,965
FNMA REMIC Series 2012-101, Class FC(a) (1M USD LIBOR + 0.500%)
	115,714		5.638		09/25/42	113,342
FNMA REMIC Series 2012-14, Class BF(a) (1M USD LIBOR + 0.600%)
	727,640		5.738		03/25/42	714,954
FNMA REMIC Series 2012-37, Class BF(a) (1M USD LIBOR + 0.500%)
	152,304		5.638		12/25/35	150,809
FNMA REMIC Series 2013-10, Class KF(a) (1M USD LIBOR + 0.300%)
	98,741		5.438		02/25/43	96,694
FNMA REMIC Series 2013-130, Class FB(a) (1M USD LIBOR + 0.450%)
	93,887		5.588		01/25/44	91,994
FNMA REMIC Series 2013-19, Class DF(a) (1M USD LIBOR + 0.300%)
	538,992		5.438		09/25/41	534,136
FNMA REMIC Series 2013-2, Class QF(a) (1M USD LIBOR + 0.500%)
	70,278		5.638		02/25/43	69,007
FNMA REMIC Series 2014-17, Class FE(a) (1M USD LIBOR + 0.550%)
	787,158		5.688		04/25/44	774,820
FNMA REMIC Series 2014-28, Class FD(a) (1M USD LIBOR + 0.450%)
	1,686,255		5.588		05/25/44	1,665,912
FNMA REMIC Series 2014-47, Class AF(a) (1M USD LIBOR + 0.350%)
	339,501		4.204		08/25/44	335,519
FNMA REMIC Series 2015-27, Class KF(a) (1M USD LIBOR + 0.300%)
	88,628		5.438		05/25/45	87,099
FNMA REMIC Series 2015-87, Class BF(a) (1M USD LIBOR + 0.300%)
	375,459		5.438		12/25/45	365,542
FNMA REMIC Series 2016-49, Class EF(a) (1M USD LIBOR + 0.400%)
	865,855		5.538		08/25/46	853,417
FNMA REMIC Series 2017-16, Class FA(a) (1M USD LIBOR + 0.450%)
	714,236		5.588		03/25/47	695,819
FNMA REMIC Series 2017-91, Class GF(a) (1M USD LIBOR + 0.350%)
	1,711,544		5.488		11/25/47	1,657,427
FNMA REMIC Series 2018-15, Class JF(a) (1M USD LIBOR + 0.300%)
	910,984		5.438		03/25/48	879,178
FNMA REMIC Series 2018-3385, Class MA
	867,311		4.500		06/01/48	851,586
FNMA REMIC Series 2018-4, Class FM(a) (1M USD LIBOR + 0.300%)
	2,278,267		5.438		02/25/48	2,198,648
FNMA REMIC Series 2019-41, Class FM(a) (1M USD LIBOR + 0.450%)
	1,099,152		5.588		08/25/49	1,069,093
FNMA REMIC Series 2019-6, Class KF(a) (1M USD LIBOR + 0.450%)
	1,818,902		5.588		03/25/49	1,780,773

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Securities – (continued)
FNMA REMIC Series 2020-6347, Class BM(a) (12M USD LIBOR + 1.736%)
$	10,014,078		4.130	%	02/01/41	$  10,228,473
GNMA Series 2004-59, Class FP(a) (1M USD LIBOR + 0.300%)
	393,016		5.405		08/16/34	387,839
GNMA Series 2005-4, Class FA(a) (1M USD LIBOR + 0.370%)
	340,875		5.475		01/16/35	336,642
GNMA Series 2007-26, Class FL(a) (1M USD LIBOR + 0.200%)
	2,362,417		5.348		05/20/37	2,306,653
GNMA Series 2007-59, Class FA(a) (1M USD LIBOR + 0.500%)
	114,174		5.648		10/20/37	112,916
GNMA Series 2013-99, Class PF(a) (1M USD LIBOR + 0.300%)
	1,585,303		5.448		07/20/43	1,543,870
GNMA Series 2018-164, Class AF(a) (1M USD LIBOR + 0.400%)
	2,549,652		5.548		12/20/48	2,490,790
GNMA Series 2019-110, Class F(a) (1M USD LIBOR + 0.450%)
	1,716,870		5.598		09/20/49	1,673,854
GNMA Series 2019-56, Class FB(a) (1M USD LIBOR + 0.450%)
	1,940,926		5.598		05/20/49	1,904,455
GNMA Series 2019-58, Class FA(a) (1M USD LIBOR + 0.400%)
	834,055		5.548		05/20/49	814,757
JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP2, Class ASB
	438,539		2.713		08/15/49	417,971
JPMBB Commercial Mortgage Securities Trust Series 2015-C31, Class ASB
	336,228		3.540		08/15/48	322,712
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C14, Class A5
	2,308,223		4.064		02/15/47	2,273,797
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C23, Class A4
	550,000		3.719		07/15/50	524,619
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C24, Class A3
	2,053,239		3.479		05/15/48	1,948,749
Wells Fargo Commercial Mortgage Trust Series 2013-LC12, Class A4(a)
	225,565		4.218		07/15/46	219,599
TOTAL MORTGAGE-BACKED SECURITIES (Cost $104,363,491)						$101,745,609
Corporate Obligations – 16.1%
Banks – 5.4%
American Express Co.
(SOFR + 0.930%)
$	1,854,000		6.042	%(a)	03/04/25	$    1,854,505
(SOFR + 0.760%)
	2,800,000		5.866	(a)	02/13/26	2,787,500
Bank of America Corp.
(SOFR + 0.690%)
	1,133,000		5.764	(a)	04/22/25	1,127,722
(SOFR + 1.100%)
	737,000		6.165	(a)	04/25/25	737,948

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp.(a), Series 2025
(SOFR + 0.660%)
$	1,288,000		5.765	%	02/04/25	$    1,280,622
Bank of America Corp.(a), MTN
(SOFR + 0.670%)
	1,608,000		1.843		02/04/25	1,563,626
Capital One Financial Corp.(a)
(SOFR + 0.690%)
	3,534,000		5.573		12/06/24	3,469,532
Charles Schwab Corp. (The)(a)
(SOFRINDX + 0.500%)
	1,000,000		5.438		03/18/24	989,881
Huntington National Bank (The)(a)
(SOFRINDX + 1.190%)
	1,600,000		6.298		05/16/25	1,528,050
JPMorgan Chase & Co.
(SOFR + 0.420%)
	1,780,000		0.563	(a)	02/16/25	1,715,710
(3M U.S. T-Bill MMY + 1.417%)
	4,127,000		3.220	(a)	03/01/25	4,048,634
KeyBank NA
(SOFRINDX + 0.340%)
	691,000		5.340	(a)	01/03/24	680,838
(SOFRINDX + 0.320%)
	250,000		5.231	(a)	06/14/24	241,710
Morgan Stanley
(SOFR + 0.625%)
	1,764,000		5.699	(a)	01/24/25	1,756,819
(SOFR + 1.160%)
	1,430,000		3.620	(a)	04/17/25	1,401,350
Morgan Stanley(a), MTN
(SOFR + 0.466%)
	2,700,000		5.572		11/10/23	2,698,232
National Securities Clearing Corp.
	2,550,000		5.050	(b)	11/21/24	2,546,697
	1,165,000		5.150	(b)	05/30/25	1,168,313
Wells Fargo & Co.
	462,000		4.125		08/15/23	460,134
						32,057,823
Basic Industry – 0.5%
Ecolab, Inc.
	272,000		0.900		12/15/23	265,040
Sherwin-Williams Co. (The)
	3,107,000		4.050		08/08/24	3,055,318
						3,320,358
Broadcasting – 0.1%
Fox Corp.
	705,000		4.030		01/25/24	695,848

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Capital Goods – 0.2%
Carlisle Cos., Inc.
$	1,117,000		0.550	%	09/01/23	$    1,101,833
Consumer Cyclical – 1.5%
7-Eleven, Inc.(b)
	544,000		0.800		02/10/24	524,404
General Motors Financial Co., Inc.
	1,914,000		1.700		08/18/23	1,896,942
(SOFRINDX + 1.300%)
	3,000,000		6.317	(a)	04/07/25	2,985,778
Starbucks Corp.(a)
(SOFRINDX + 0.420%)
	479,000		5.526		02/14/24	479,072
Toyota Motor Credit Corp.(a)
(SOFRINDX + 0.890%)
	3,044,000		5.998		05/18/26	3,059,395
						8,945,591
Consumer Noncyclical – 3.0%
AbbVie, Inc.
	2,000,000		3.750		11/14/23	1,983,913
	2,000,000		2.600		11/21/24	1,925,770
Baxter International, Inc.(a)
(SOFRINDX + 0.440%)
	1,356,000		5.551		11/29/24	1,334,824
GE HealthCare Technologies, Inc.(b)
	3,067,000		5.550		11/15/24	3,065,532
Pfizer Investment Enterprises Pte Ltd.
	3,171,000		4.650		05/19/25	3,164,908
Philip Morris International, Inc.
	3,078,000		5.125		11/15/24	3,079,316
Revvity, Inc.
	1,505,000		0.550		09/15/23	1,483,327
Thermo Fisher Scientific, Inc.
	1,671,000		0.797		10/18/23	1,641,189
						17,678,779
Consumer Products – 0.2%
Haleon US Capital LLC
	1,183,000		3.024		03/24/24	1,154,916
Electric – 1.1%
American Electric Power Co., Inc.(a), Series A
(3M USD LIBOR + 0.480%)
	625,000		5.779		11/01/23	623,998
CenterPoint Energy, Inc.(a)
(SOFRINDX + 0.650%)
	2,131,000		5.756		05/13/24	2,123,748
Eversource Energy
	1,002,000		4.200		06/27/24	986,306

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electric – (continued)
Florida Power & Light Co.(a)
(SOFRINDX + 0.380%)
$	1,250,000		5.411	%	01/12/24	$    1,246,115
National Rural Utilities Cooperative Finance Corp.(a), MTN
(SOFR + 0.400%)
	1,884,000		5.505		08/07/23	1,885,326
NextEra Energy Capital Holdings, Inc.
	41,000		6.051		03/01/25	41,471
						6,906,964
Energy – 0.1%
Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc.
	373,000		1.231		12/15/23	364,462
Food and Beverage – 0.2%
Kellogg Co.
	1,542,000		2.650		12/01/23	1,518,005
Insurance – 1.7%
Corebridge Global Funding(a)(b)
(SOFR + 0.380%)
	1,390,000		5.303		12/15/23	1,388,766
Jackson National Life Global Funding(a)(b)
(SOFR + 1.150%)
	1,397,000		6.138		06/28/24	1,397,378
MassMutual Global Funding II
(SOFR + 0.360%)
	986,000		5.391	(a)(b)	04/12/24	982,445
(SOFR + 0.270%)
	1,466,000		5.329	(a)(b)	10/21/24	1,461,182
Metropolitan Life Global Funding I(b)
	710,000		3.600		01/11/24	701,427
New York Life Global Funding
(SOFRINDX + 0.610%)
	219,000		5.669	(a)(b)	04/21/25	218,555
(SOFR + 0.650%)
	1,467,000		5.738	(a)(b)	05/02/25	1,469,525
Pacific Life Global Funding II(a)(b)
(SOFR + 0.400%)
	750,000		5.477		01/27/25	743,065
Protective Life Global Funding(a)(b)
(SOFR + 0.980%)
	1,691,000		5.968		03/28/25	1,683,340
						10,045,683
REITs and Real Estate – 0.2%
Public Storage(a) (SOFR + 0.470%)
	1,385,000		5.532		04/23/24	1,382,146
Software – 0.4%
Oracle Corp.
	2,600,000		2.400		09/15/23	2,576,433

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Technology – 0.2%
Hewlett Packard Enterprise Co.
$	785,000		5.900	%	10/01/24	$       788,509
Take-Two Interactive Software, Inc.
	571,000		3.300		03/28/24	560,263
						1,348,772
Transportation – 0.7%
Penske Truck Leasing Co. LP / PTL Finance Corp.(b)
	4,000,000		4.125		08/01/23	3,988,115
Wireless – 0.6%
AT&T, Inc.(a)
(SOFRINDX + 0.640%)
	2,154,000		5.619		03/25/24	2,153,434
Verizon Communications, Inc.(a)
(SOFRINDX + 0.500%)
	1,176,000		5.464		03/22/24	1,175,061
						3,328,495
TOTAL CORPORATE OBLIGATIONS (Cost $96,746,457)						$  96,414,223
Foreign Corporate Debt – 15.5%
Banks – 13.5%
ANZ New Zealand Int’l Ltd/London(a)(b) (New Zealand)
(SOFR + 0.600%)
$	500,000		5.708	%	02/18/25	$       497,149
Banco Santander SA (Spain)
	200,000		3.892		05/24/24	196,152
(SOFR + 1.240%)
	1,400,000		6.348	(a)	05/24/24	1,404,432
(US 1 Year CMT T-Note + 0.450%)
	1,000,000		0.701	(a)	06/30/24	995,198
	800,000		3.496		03/24/25	771,644
Bank of Montreal(a) (Canada)
(SOFRINDX + 1.330%)
	2,108,000		6.442		06/05/26	2,117,844
Bank of Montreal(a), MTN (Canada)
(SOFRINDX + 0.465%)
	3,000,000		5.484		01/10/25	2,980,042
Bank of Nova Scotia (The) (Canada)
(SOFRINDX + 0.550%)
	551,000		5.473	(a)	09/15/23	550,884
	1,620,000		5.250		12/06/24	1,615,329
Bank of Nova Scotia (The)(a), Series FRN (Canada)
(SOFRINDX + 0.445%)
	425,000		5.485		04/15/24	424,098
Bank of Nova Scotia (The)(a), MTN (Canada)
(SOFRINDX + 0.960%)
	1,400,000		5.856		03/11/24	1,403,393

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Banque Federative du Credit Mutuel SA(b) (France)
$	1,298,000		0.650	%	02/27/24	$    1,248,857
BNP Paribas SA(b) (France)
	1,970,000		3.800		01/10/24	1,942,004
BPCE SA(a)(b) (France)
(SOFR + 0.570%)
	1,100,000		5.607		01/14/25	1,087,568
Canadian Imperial Bank of Commerce(a) (Canada)
(SOFR + 0.940%)
	2,433,000		5.957		04/07/25	2,433,396
Credit Suisse AG (Switzerland)
	396,000		7.950		01/09/25	401,260
Credit Suisse AG(a), Series FRN (Switzerland)
(SOFRINDX + 1.260%)
	3,000,000		6.368		02/21/25	2,903,021
Deutsche Bank AG, Series E (Germany)
	298,000		0.962		11/08/23	290,085
(SOFR + 0.500%)
	3,125,000		5.605	(a)	11/08/23	3,111,976
DNB Bank ASA(a)(b) (Norway)
(SOFRINDX + 0.810%)
	753,000		2.968		03/28/25	735,233
Federation des Caisses Desjardins du Quebec(a)(b) (Canada)
(SOFR + 0.430%)
	1,895,000		5.539		05/21/24	1,887,533
HSBC Holdings PLC (United Kingdom)
(SOFR + 0.534%)
	1,422,000		0.732	(a)	08/17/24	1,404,669
(SOFR + 0.580%)
	1,713,000		5.688	(a)	11/22/24	1,693,096
ING Groep NV (Netherlands)
	4,181,000		3.550		04/09/24	4,105,263
Intesa Sanpaolo SpA(b), Series XR (Italy)
	2,171,000		3.250		09/23/24	2,086,923
Lloyds Banking Group PLC (United Kingdom)
	1,367,000		4.050		08/16/23	1,360,754
	1,000,000		4.450		05/08/25	976,150
Mitsubishi UFJ Financial Group, Inc. (Japan)
	1,000,000		2.193		02/25/25	943,889
(SOFR + 1.385%)
	1,529,000		6.264	(a)	09/12/25	1,532,329
(SOFR + 0.940%)
	2,400,000		6.047	(a)	02/20/26	2,387,245
Mizuho Financial Group, Inc. (Japan)
(SOFR + 1.252%)
	1,358,000		1.241	(a)	07/10/24	1,350,886

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Mizuho Financial Group, Inc. (Japan) – (continued)
(SOFR + 0.872%)
$	1,259,000		0.849	%(a)	09/08/24	$    1,240,699
MUFG Bank Ltd.(b) (Japan)
	671,000		4.100		09/09/23	667,861
National Australia Bank Ltd.(a)(b) (Australia)
(SOFR + 0.380%)
	2,300,000		5.411		01/12/25	2,282,797
National Bank of Canada(a) (Canada)
(SOFR + 0.490%)
	655,000		5.595		08/06/24	652,325
NatWest Group PLC (United Kingdom)
	325,000		3.875		09/12/23	322,453
Nordea Bank Abp (Finland)
	800,000		3.750	(b)	08/30/23	795,414
	200,000		0.625	(b)	05/24/24	190,366
Royal Bank of Canada, GMTN (Canada)
(SOFRINDX + 0.340%)
	819,000		5.357	(a)	10/07/24	814,396
(SOFRINDX + 0.440%)
	2,000,000		5.499	(a)	01/21/25	1,987,203
Societe Generale SA(b) (France)
	1,133,000		4.250		09/14/23	1,124,640
Standard Chartered PLC(a)(b) (United Kingdom)
(US 1 Year CMT T-Note + 0.780%)
	1,452,000		0.991		01/12/25	1,403,273
Sumitomo Mitsui Trust Bank Ltd. (Japan)
(SOFR + 0.440%)
	1,854,000		5.348	(a)(b)	09/16/24	1,840,442
(SOFR + 1.120%)
	3,400,000		5.979	(a)(b)	03/09/26	3,400,423
Toronto-Dominion Bank (The), MTN (Canada)
(SOFR + 0.910%)
	781,000		5.793	(a)	03/08/24	781,858
(SOFR + 0.410%)
	4,000,000		5.429	(a)	01/10/25	3,975,809
Toronto-Dominion Bank (The)(a) (Canada)
(SOFR + 0.355%)
	1,362,000		5.467		03/04/24	1,358,316
Toronto-Dominion Bank (The), GMTN (Canada)
	859,000		3.250		03/11/24	843,737
UBS AG/London (Switzerland)
	1,588,000		0.700	(b)	08/09/24	1,495,388
(SOFR + 0.450%)
	1,462,000		5.556	(a)(b)	08/09/24	1,453,980
(SOFR + 0.470%)
	3,500,000		5.504	(a)(b)	01/13/25	3,472,636

Principal Amount		Interest Rate			Maturity Date	Value
Foreign Corporate Debt – (continued)
Banks – (continued)
Westpac Banking Corp. (Australia)
$	2,567,000		5.350	%	10/18/24	$    2,578,519
(SOFR + 0.300%)
	1,186,000		5.408	(a)	11/18/24	1,179,620
						80,700,457
Capital Goods – 0.1%
Siemens Financieringsmaatschappij NV(a)(b) (Germany) (SOFR + 0.430%)
	620,000		5.328		03/11/24	620,134
Consumer Cyclical – 0.7%
BMW US Capital LLC (Germany)
(SOFRINDX + 0.530%)
	710,000		5.530	(a)(b)	04/01/24	711,172
(SOFRINDX + 0.840%)
	1,231,000		5.840	(a)(b)	04/01/25	1,233,340
Volkswagen Group of America Finance LLC (Germany)
	1,586,000		0.875	(b)	11/22/23	1,549,205
(SOFR + 0.950%)
	1,000,000		5.815	(a)(b)	06/07/24	999,806
						4,493,523
Energy – 0.7%
Enbridge, Inc. (Canada)
	726,000		0.550		10/04/23	712,375
(SOFRINDX + 0.630%)
	344,000		5.738	(a)	02/16/24	343,500
TransCanada PipeLines Ltd. (Canada)
	3,000,000		3.750		10/16/23	2,986,778
						4,042,653
Food and Beverage – 0.5%
Danone SA(b) (France)
	3,000,000		2.589		11/02/23	2,961,617
TOTAL FOREIGN CORPORATE DEBT (Cost $93,166,882)						$  92,818,384
Certificate of Deposits – 6.8%(c)
Banco Santander SA (SOFR + 0.490%)
$	2,000,000		5.570	%	02/09/24	$    1,998,700
Barclays Bank PLC (SOFR + 0.700%)
	2,300,000		5.780		10/04/23	2,302,530
Bayerische Landesbank/New York
	2,204,000		5.810		03/08/24	2,204,066
BNP Paribas
	2,403,000		5.430		02/16/24	2,396,848
Commonwealth Bank of Australia (SOFR + 0.400%)
	2,579,000		5.530		11/22/23	2,577,169
	1,123,000		5.480		01/29/24	1,123,314
Cooperatieve Rabobank UA (SOFR + 0.490%)
	2,635,000		5.570		03/21/24	2,634,473

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Certificate of Deposits – (continued)
Landesbank Baden-Wuerttemberg/New York
$	2,437,000		5.220	%	01/17/24	$    2,428,056
Lloyds Bank Corporate Markets PLC (SOFR + 0.540%)
	1,395,000		5.620		01/31/24	1,381,918
Mizuho Bank Ltd. (SOFR + 0.520%)
	1,280,000		5.600		10/02/23	1,280,589
Nordea Bank Abp (SOFR + 0.610%)
	2,333,000		5.690		01/04/24	2,335,706
Royal Bank of Canada (SOFR + 0.700%)
	968,000		5.780		03/27/24	969,365
Skandinaviska Enskilda Banken AB (SOFR + 0.680%)
	2,000,000		5.730		08/18/23	2,002,084
Standard Chartered Bank (SOFR + 0.640%)
	2,388,000		5.720		02/20/24	2,389,409
Sumitomo Mitsui Banking Corp. (SOFR + 0.950%)
	1,278,000		6.030		10/25/23	1,280,812
Sumitomo Mitsui Banking Corp. New York Branch
	2,000,000		5.000		10/06/23	1,995,360
Svenska Handelsbanken (SOFR + 0.570%)
	2,436,000		5.650		01/09/24	2,437,730
Toronto Dominion Bank
	814,000		4.070		07/18/23	812,714
	1,633,000		0.000		04/03/24	1,634,037
	1,282,000		5.820		05/23/24	1,284,778
Wells Fargo Bank NA (SOFR + 0.610%)
	2,966,000		5.690		04/19/24	2,971,792
TOTAL CERTIFICATE OF DEPOSITS (Cost $40,454,550)						$  40,441,450
U.S. Treasury Notes – 5.7%(c)
U.S. Treasury Floating Rate Notes (3M USD T-Bill + 0.309%)
$	10,803,600		5.512	%	10/31/24	$  10,810,230
	3,104,300		5.541		04/30/25	3,105,326
U.S. Treasury Notes
	7,600,000		4.625		02/28/25	7,604,711
	8,149,000		3.875		03/31/25	8,054,777
	4,322,000		3.875		04/30/25	4,275,066
TOTAL U.S. TREASURY NOTES (Cost $33,850,450)						$  33,850,110
U.S. Government Agency Obligations – 4.2%(c)
Federal Farm Credit Banks Funding Corp.
$	2,095,000		5.070	%	01/11/24	$    2,090,193
Federal Home Loan Banks
	1,460,000		4.660		11/14/23	1,454,044
	600,000		4.660		11/15/23	597,621

Principal Amount			Interest Rate			Maturity Date	Value
U.S. Government Agency Obligations – (continued)
Federal Home Loan Banks – (continued)
$		600,000		4.670	%	11/17/23	$       597,446
		600,000		4.680		11/29/23	597,442
		2,550,000		5.000		02/21/24	2,541,449
		1,885,000		5.000		02/21/24	1,878,645
		5,230,000		5.165		03/08/24	5,198,818
		4,780,000		5.340		04/23/24	4,750,896
		2,785,000		5.540		04/24/24	2,777,101
		2,770,000		5.330		04/26/24	2,747,745
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $25,349,867)							$  25,231,400
	Shares		Dividend Rate				Value
Investment Company – 1.9%(d)
Goldman Sachs Financial Square Government Fund – Institutional Shares
		11,318,044		5.003%			$  11,318,044
(Cost $11,318,044)
Principal Amount			Interest Rate			Maturity Date	Value
Short-Term Investments – 10.7%
Commercial Paper – 10.7%
3M Co.
$		1,487,000		5.630	%	09/07/23	$    1,465,825
American Electric Power Co., Inc.
		1,269,000		5.358		07/20/23	1,259,356
B A T Intl Fin
		2,827,000		6.173		06/20/23	2,818,661
Bank of Montreal
		1,210,000		5.580		02/14/24	1,209,950
Bank of Nova Scotia
		1,214,000		5.598		10/10/23	1,189,040
		3,951,000		5.580		02/09/24	3,791,656
Barton Capital S.A.
		982,000		5.480		09/15/23	966,032
BASF SE
		1,290,000		5.787		12/18/23	1,249,520
Bayer Corp.
		2,856,000		6.232		09/14/23	2,808,533
BofA Securities, Inc.
		964,000		5.440		02/08/24	961,686
Citigroup Global Markets, Inc.(a) (SOFR + 0.650%)
		1,093,000		5.700		09/21/23	1,094,137
DNB Bank ASA
		2,731,000		5.450		11/22/23	2,659,038

GOLDMAN SACHS ACCESS ULTRA SHORT BOND ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Short-Term Investments – (continued)
Commercial Paper – (continued)
EIDP, Inc.
$	3,000,000		5.788	%	10/02/23	$    2,942,610
	522,000		5.842		11/24/23	507,609
Federation des Caisses Desjardins du Quebec
	2,365,000		5.452		02/14/24	2,272,008
General Motors
	5,060,000		5.480		06/01/23	5,059,241
HSBC Bank USA NA(a) (SOFR + 0.610%)
	1,000,000		5.690		04/26/24	999,780
HSBC USA Inc.
	1,053,000		6.219		05/24/24	993,965
La Fayette Asset Securitization LLC
	1,207,000		5.810		11/28/23	1,173,494
Lloyds Bank Corporate Markets PLC
	2,718,000		5.520		02/14/24	2,711,749
Macquarie Bank
	1,725,000		5.570		02/15/24	1,724,993
Nordea Bank Abp(a) (SOFR + 0.450%)
	1,238,000		5.498		01/18/27	1,238,359
Northrop Gruman Corp.
	2,141,000		5.896		08/22/23	2,113,467
Nutrien Ltd.
	1,000,000		5.581		07/14/23	993,340
Societe Generale SA
	2,716,000		5.540		11/15/23	2,646,742
	1,355,000		5.413		02/09/24	1,302,101
Starbird Funding Corp.
	5,000,000		5.220		09/06/23	4,998,000
Telus Corp.
	1,390,000		5.853		10/17/23	1,359,100
Thermo Fisher Scientific Inc.
	1,243,000		5.651		08/21/23	1,227,226
TotalEnergies SE
	3,232,000		5.781		11/27/23	3,141,343
TransCanada
	3,000,000		5.641		07/25/23	2,974,830
VW Credit, Inc.
	897,000		5.308		06/07/23	896,094

Principal Amount		Interest Rate			Maturity Date	Value
Short-Term Investments – (continued)
Commercial Paper – (continued)
Westpac Banking Corp.
$	1,279,000		5.394	%	02/20/24	$    1,275,508
TOTAL SHORT-TERM INVESTMENTS (Cost $64,062,825)						$  64,024,993
TOTAL INVESTMENTS – 99.8% (Cost $601,842,107)						$596,738,304
OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.2%						1,026,134
NET ASSETS – 100.0%						$597,764,438

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Variable rate security. Interest rate or distribution rate disclosed is that which is in effect on May 31, 2023.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.
(d)	Represents an affiliated issuer.

Investment Abbreviations:
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury Index
FHLMC	— Federal Home Loan Mortgage Corp.
FNMA	— Federal National Mortgage Association
GNMA	— Government National Mortgage Association
GMTN	— Global Medium Term Note
LIBOR	— London Interbank Offered Rate
LP	— Limited Partnership
MTN	— Medium Term Note
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust
SOFR	— Secured Overnight Financing Rate
SOFRINDX	— Secured Overnight Financing Rate Index

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The Funds’ valuation policy is to value investments at fair value.

Investments and Fair Value Measurements — 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 to valuation techniques used to measure fair value. The 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). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these investments. The three levels of the fair value hierarchy are described below:

Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2 — Quoted prices in markets that are not active or financial instruments for which significant inputs are observable (including, but not limited to, quoted prices for similar investments, interest rates, foreign exchange rates, volatility and credit spreads), either directly or indirectly;

Level 3 — Prices or valuations that require significant unobservable inputs (including GSAM’s assumptions in determining fair value measurement).

The Board of Trustees (“Trustees”) has approved Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. The Trustees have delegated to GSAM day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds’ portfolio investments. To assess the continuing appropriateness of pricing sources and methodologies, GSAM regularly performs price verification procedures and issues challenges as necessary to third party pricing vendors or brokers, and any differences are reviewed in accordance with the Valuation Procedures.

A. Level 1 and Level 2 Fair Value Investments — The valuation techniques and significant inputs used in determining the fair values for investments classified as Level 1 and Level 2 are as follows:

Debt Securities — Debt securities for which market quotations are readily available are valued daily on the basis of quotations supplied by dealers or an independent pricing service. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from securities dealers to determine current value. With the exception of treasury securities of G7 countries, which are generally classified as Level 1, these investments are generally classified as Level 2 of the fair value hierarchy.

i. Commercial Paper — Commercial paper normally represents short-term unsecured promissory notes issued in bearer form by banks or bank holding companies, corporations, finance companies and other issuers. Commercial paper consists of direct U.S. dollar-denominated obligations of domestic or foreign issuers. Asset-backed commercial paper is issued by a special purpose entity that is organized to issue the commercial paper and to purchase trade receivables or other financial assets.

ii. Mortgage-Backed and Asset-Backed Securities — Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by residential and/or commercial real estate property. Asset-backed securities include securities whose principal and interest payments are collateralized by pools of other assets or receivables. The value of certain mortgage-backed and asset-backed securities (including adjustable rate mortgage loans) may be particularly sensitive to changes in prevailing interest rates. The value of these securities may also fluctuate in response to the market’s perception of the creditworthiness of the issuers.

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Asset-backed securities may present credit risks that are not presented by mortgage-backed securities because they generally do not have the benefit of a security interest in collateral that is comparable to mortgage assets. Some asset-backed securities may only have a subordinated claim on collateral. Stripped mortgage-backed securities are usually structured with two different classes: one that receives substantially all interest payments (interest-only, or “IO” and/or high coupon rate with relatively low principal amount, or “IOette”), and the other that receives substantially all principal payments (principal-only, or “PO”) from a pool of mortgage loans. Little to no principal will be received at the maturity of an IO; as a result, periodic adjustments are recorded to reduce the cost of the security until maturity.

iii. Treasury Inflation Protected Securities — TIPS are treasury securities in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index for Urban Consumers. The repayment of the original bond principal upon maturity is guaranteed by the full faith and credit of the U.S. Government.

iv. When-Issued Securities and Forward Commitments — When-issued securities, including TBA (“To Be Announced”) securities, are securities that are authorized but not yet issued in the market and purchased in order to secure what is considered to be an advantageous price or yield to a Fund. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended settlement basis, for a fixed price at a future date. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. Although a Fund will generally purchase securities on a when-issued or forward commitment basis with the intention of acquiring the securities for its portfolio, the Fund may dispose of when-issued securities or forward commitments prior to settlement, which may result in a realized gain or loss.

Money Market Funds — Investments in the Goldman Sachs Financial Square Government Fund (“Underlying Money Market Fund”) are valued at the NAV per share of the Institutional Share class on the day of valuation. These investments are generally classified as Level 1 of the fair value hierarchy. For information regarding the Underlying Money Market Fund’s accounting policies and investment holdings, please see the Underlying Money Market Fund’s shareholder report.

B. Level 3 Fair Value Investments — To the extent that significant inputs to valuation models and other alternative pricing sources are unobservable, or if quotations are not readily available, or if GSAM believes that such quotations do not accurately reflect fair value, the fair value of the Funds’ investments may be determined under Valuation Procedures approved by the Trustees. GSAM, consistent with its procedures and applicable regulatory guidance, may make an adjustment to the most recent valuation prices of either domestic or foreign securities in light of significant events to reflect what it believes to be the fair value of the securities at the time of determining a Fund’s NAV. To the extent investments are valued using single source broker quotations obtained directly from the broker or passed through from third party pricing vendors, such investments are classified as Level 3 investments.

C. Fair Value Hierarchy — The following is a summary of the Funds’ investments and classified in the fair value hierarchy as of May 31, 2023:

ACCESS EMERGING MARKETS USD BOND ETF
Investment Type	Level 1		Level 2		Level 3
Assets
Fixed Income
Sovereign Debt Obligations	$	—	$	50,534,187	$	—
Corporate Obligations		—		7,708,275		—
Investment Company		243,138		—		—
Total	$	243,138	$	58,242,462	$	—
ACCESS HIGH YIELD CORPORATE BOND ETF
Investment Type	Level 1		Level 2		Level 3
Assets
Fixed Income
Corporate Obligations	$	—	$	87,135,916	$	—
Foreign Corporate Debt		—		6,121,180		—
Investment Company		576,771		—		—
Total	$	576,771	$	93,257,096	$	—
ACCESS INFLATION PROTECTED USD BOND ETF
Investment Type	Level 1		Level 2		Level 3
Assets
Fixed Income
U.S. Treasury Inflation Indexed Bonds	$	121,577,363	$	—	$	—
Investment Company		336,835		—		—
Total	$	121,914,198	$	—	$	—
ACCESS INVESTMENT GRADE CORPORATE 1-5 YEAR BOND ETF
Investment Type	Level 1		Level 2		Level 3
Assets
Fixed Income
Corporate Obligations	$	—	$	7,881,142	$	—
Foreign Corporate Debt		—		1,213,981		—
Total	$	—	$	9,095,123	$	—

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

ACCESS INVESTMENT GRADE CORPORATE BOND ETF
Investment Type	Level 1		Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—	$	523,225,029		$	—
Foreign Corporate Debt		—		126,605,118			—
Investment Company		1,993,891		—			—
Total	$	1,993,891	$	649,830,147		$	—
ACCESS TREASURY 0-1 YEAR ETF
Investment Type	Level 1		Level 2			Level 3
Assets
Fixed Income
U.S. Treasury Bills	$	4,971,760,290	$	—		$	—
U.S. Treasury Notes		378,072,318		—			—
Total	$	5,349,832,608	$	—		$	—
ACCESS U.S. AGGREGATE BOND ETF
Investment Type	Level 1		Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Securities	$	—	$	155,425,283		$	—
U.S. Treasury Notes		154,111,861		—			—
Corporate Obligations		—		95,804,347			—
U.S. Treasury Bonds		36,940,465		—			—
Foreign Corporate Debt		—		23,692,313			—
U.S. Treasury Obligations		21,495,725		—			—
Sovereign Debt Obligations		206,659		10,955,083			—
Investment Company		44,019,538		—			—
Total	$	256,774,248	$	285,877,026		$	—
Liabilities
Forward Sales Contracts		—		(26,257,813	)		—
ACCESS ULTRA SHORT BOND ETF
Investment Type	Level 1		Level 2			Level 3
Assets
Fixed Income
Asset- Backed Securities	$	—	$	130,894,091		$	—
Mortgage-Backed Securities		—		101,745,609			—
Corporate Obligations		—		96,414,223			—
Foreign Corporate Debt		—		92,818,384			—
Commercial Paper		—		64,024,993			—
Certificate of Deposits		—		40,441,450			—
U.S. Treasury Notes		33,850,110		—			—
U.S. Government Agency Obligations		—		25,231,400			—
Investment Company		11,318,044		—			—
Total	$	45,168,154	$	551,570,150		$	—

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

The Funds’ risks include, but are not limited to, the following:

Floating and Variable Rate Obligations Risk — Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semiannually) in response to changes in the market rate of interest on which the interest rate is based. Such market rates are generally the Secured Overnight Financing Rate, London Interbank Offered Rate (“LIBOR”), the Prime Rate of a designated U.S. bank, the Federal Funds Rate, or another base lending rate used by commercial lenders. For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit a Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent a Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, a Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

At the end of 2021, certain LIBORs were discontinued, but the most widely used LIBORs may continue to be provided on a representative basis until June, 2023. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain Fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any pricing adjustments to a Fund’s investments resulting from a substitute reference rate may also adversely affect a Fund’s performance and/or NAV.

Foreign and Emerging Countries Risk — Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of more or less foreign government regulation; less public information; less stringent investor protections; less stringent accounting, corporate governance, financial reporting and disclosure standards; and less economic, political and social stability in the countries in which a Fund invests. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscation of assets and property, trade restrictions (including tariffs) and other government restrictions by the U.S. or other governments, or from problems in registration, settlement or custody, may also result in losses. The type and severity of sanctions and other similar measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, and their impact is impossible to predict. For example, the imposition of sanctions and other similar measures could, among other things, cause a decline in the value and/or liquidity of securities issued by the sanctioned country or companies located in or economically tied to the sanctioned country and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions and other similar measures could limit or prevent a Fund from buying and selling securities (in the sanctioned country and other markets), significantly delay or prevent the settlement of securities transactions, and significantly impact a Fund’s liquidity and performance. Foreign risk also involves the risk of negative foreign currency exchange rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which a Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that a Fund also invests in securities of issuers located in, or economically tied to, emerging markets, these risks may be more pronounced.

Interest Rate Risk — When interest rates increase, fixed income securities or instruments held by a Fund will generally decline in value. A Fund may face a heightened level of interest rate risk in connection with the type and extent of certain monetary policy changes made by the Federal Reserve, such as target interest rate changes. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short term fixed income securities or instruments. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. The risks associated with changing interest rates may have unpredictable effects on the markets and a Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Funds. A sudden or unpredictable increase in interest rates may cause volatility in the market and may decrease the liquidity of the Fund’s investments, which would make it harder for the Fund to sell its investments at an advantageous time.

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Index Risk (each Fund except the Access Ultra Short Bond ETF) — FTSE Fixed Income LLC (the “Index Provider”) constructs each Fund’s Index in accordance with a rules-based methodology. A Fund will be negatively affected by general declines in the securities and asset classes represented in its Index. In addition, because the Funds are not “actively” managed, unless a specific security is removed from an Index, a Fund generally would not sell a security because the security’s issuer was in financial trouble. Market disruptions and regulatory restrictions could have an adverse effect on a Fund’s ability to adjust its exposure to the required levels in order to track the Index. A Fund also does not attempt to take defensive positions under any market conditions, including declining markets. Therefore, a Fund’s performance could be lower than funds that may actively shift their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline or a decline in the value of one or more issuers. When the Index is rebalanced and a Fund in turn rebalances its portfolio to attempt to increase the correlation between the Fund’s portfolio and the Index, any transaction costs and market exposure arising from such portfolio rebalancing may be borne directly by the Fund and its shareholders. The Index Provider may utilize third party data in constructing each Index, but it does not guarantee the accuracy or availability of any such third party data. The FTSE Goldman Sachs Emerging Markets USD Bond Index, FTSE Goldman Sachs Investment Grade Corporate Bond 1-5 Years Index and FTSE Goldman Sachs US Broad Bond Market Index are new and have limited performance history. Errors in index data, index computation or the construction of an Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the applicable Fund and its shareholders. In addition, neither a Fund, the Investment Adviser nor the Index Provider can guarantee the availability or timeliness of the production of the Index.

Investments in Other Investment Companies Risk — As a shareholder of another investment company, a Fund will indirectly bear its proportionate share of any net management fees and other expenses paid by such other investment companies, in addition to the fees and expenses regularly borne by the Fund.

Liquidity Risk — A Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that a Fund will not be able to pay redemption proceeds within the allowable time period or without significant dilution to remaining investors’ interests because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, a Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions. If a Fund is forced to sell securities at an unfavorable time and/or under unfavorable conditions, such sales may adversely affect the Fund’s NAV and dilute remaining investors’ interests. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income funds may be higher than normal, potentially causing increased supply in the market due to selling activity. These risks may be more pronounced in connection with a Fund’s investments in securities of issuers located in emerging market countries. Redemptions by large shareholders may have a negative impact on a Fund’s liquidity.

Market and Credit Risks — In the normal course of business, a Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk). The value of the securities in which a Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets. Events such as war, acts of terrorism, social unrest, natural disasters, the spread of infectious illness or other public health threats could also significantly impact a Fund and its investments. Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.

Market Trading Risk — Each Fund faces numerous market trading risks, including disruptions to creations and redemptions, the existence of extreme market volatility or potential lack of an active trading market for Shares. If a shareholder purchases Shares at a time when the market price is at a premium to the NAV or sells Shares at a time when the market price is at a discount to the NAV, the shareholder may sustain losses. The Investment Adviser cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the securities of a Fund’s Index (except the Access Ultra Short Bond ETF) trading individually or in the aggregate at any point in time.

GOLDMAN SACHS ACCESS FIXED INCOME ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Tracking Error Risk (each Fund except the Access Ultra Short Bond ETF) — Tracking error is the divergence of a Fund’s performance from that of its Index. The performance of a Fund may diverge from that of its Index for a number of reasons. Tracking error may occur because of transaction costs, a Fund’s holding of cash, differences in accrual of dividends, changes to its Index or the need to meet new or existing regulatory requirements. Unlike a Fund, the returns of an Index are not reduced by investment and other operating expenses, including the trading costs associated with implementing changes to its portfolio of investments. Tracking error risk may be heightened during times of market volatility or other unusual market conditions.