Goldman Sachs ETF Trust (GPRF) NPORT-P Goldman Sachs ActiveBeta(R) U.S. Small Cap Equity ETF (May 2023 report)

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 97.3%
	Australia – 0.1%
	28,200	AngloGold Ashanti Ltd. (Materials)	$       687,203
	Brazil – 3.7%
	713,208	Ambev SA (Consumer Staples)	2,006,546
	646,409	B3 SA – Brasil Bolsa Balcao (Financials)	1,681,050
	430,438	Banco Bradesco SA (Financials)	1,115,194
	98,260	Banco do Brasil SA (Financials)	856,003
	69,330	Banco Santander Brasil SA (Financials)	387,129
	585,317	BB Seguridade Participacoes SA (Financials)	3,534,598
	202,938	CCR SA (Industrials)	537,666
	129,682	Centrais Eletricas Brasileiras SA (Utilities)	893,765
	100,409	CPFL Energia SA (Utilities)	593,605
	51,348	Energisa SA (Utilities)	441,509
	82,026	Engie Brasil Energia SA (Utilities)	673,100
	298,301	Equatorial Energia SA (Utilities)	1,639,465
	51,409	Hypera SA (Health Care)	409,714
	90,254	Klabin SA (Materials)	369,693
	142,594	Lojas Renner SA (Consumer Discretionary)	541,489
	183,107	Natura & Co. Holding SA (Consumer Staples)*	496,565
	527,025	Petroleo Brasileiro SA (Energy)	3,005,603
	81,217	PRIO SA (Energy)*	542,144
	594,732	Raia Drogasil SA (Consumer Staples)	3,289,552
	144,817	Suzano SA (Materials)	1,266,113
	215,470	Telefonica Brasil SA (Communication Services)	1,682,735
	292,144	TIM SA (Communication Services)	796,253
	509,262	Vale SA (Materials)	6,344,522
	142,931	Vibra Energia SA (Consumer Discretionary)	449,005
	252,875	WEG SA (Industrials)	1,856,856
			35,409,874
	Chile – 0.5%
	981,009	Cencosud SA (Consumer Staples)	1,843,379
	197,692	Cia Cervecerias Unidas SA (Consumer Staples)	1,444,629
	247,234	Empresas CMPC SA (Materials)	420,541
	87,626	Empresas Copec SA (Energy)	629,563
	6,452,716	Enel Americas SA (Utilities)*	827,674
			5,165,786

Shares		Description	Value
	Common Stocks – (continued)
	China – 31.9%
	207,200	360 Security Technology, Inc., Class A (Information Technology)	$       405,630
	391,045	37 Interactive Entertainment Network Technology Group Co. Ltd., Class A (Communication Services)	1,791,197
	1,221,169	3SBio, Inc. (Health Care)(a)	1,235,482
	2,901,346	Agricultural Bank of China Ltd., Class A (Financials)	1,433,206
	4,552,020	Agricultural Bank of China Ltd., Class H (Financials)	1,715,385
	103,162	Aier Eye Hospital Group Co. Ltd., Class A (Health Care)	387,990
	485,228	Air China Ltd., Class H (Industrials)*	368,806
	21,168	Airtac International Group (Industrials)	683,383
	87,822	Akeso, Inc., Class B (Health Care)*(a)(b)	391,529
	1,821,574	Alibaba Group Holding Ltd. (Consumer Discretionary)*	18,126,735
	656,138	Alibaba Health Information Technology Ltd. (Consumer Staples)*	388,909
	1,339,976	Aluminum Corp. of China Ltd., Class H (Materials)	592,255
	30,235	Amlogic Shanghai Co. Ltd., Class A (Information Technology)*	380,897
	67,479	Anhui Conch Cement Co. Ltd., Class A (Materials)	237,310
	71,324	Anhui Conch Cement Co. Ltd., Class H (Materials)	189,511
	182,191	ANTA Sports Products Ltd. (Consumer Discretionary)	1,860,719
	17,087	Autohome, Inc. ADR (Communication Services)	489,030
	604,411	AVIC Industry-Finance Holdings Co. Ltd., Class A (Financials)	327,406
	173,434	Baidu, Inc., Class A (Communication Services)*	2,645,294
	1,945,928	Bank of Beijing Co. Ltd., Class A (Financials)	1,291,678
	397,432	Bank of Changsha Co. Ltd., Class A (Financials)	447,305
	3,121,342	Bank of China Ltd., Class A (Financials)	1,708,332
	9,649,693	Bank of China Ltd., Class H (Financials)	3,784,314
	2,064,534	Bank of Communications Co. Ltd., Class A (Financials)	1,694,901

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	2,546,360	Bank of Communications Co. Ltd., Class H (Financials)	$    1,642,656
	206,704	Bank of Hangzhou Co. Ltd., Class A (Financials)	336,781
	1,407,402	Bank of Jiangsu Co. Ltd., Class A (Financials)*	1,465,509
	649,864	Bank of Nanjing Co. Ltd., Class A (Financials)	769,717
	1,065,268	Bank of Shanghai Co. Ltd., Class A (Financials)	922,381
	366,520	Bank of Suzhou Co. Ltd., Class A (Financials)	349,762
	487,206	Baoshan Iron & Steel Co. Ltd., Class A (Materials)	402,028
	1,470,422	BBMG Corp., Class A (Materials)	449,847
	40,092	BeiGene Ltd. (Health Care)*	682,177
	522,198	Beijing Capital International Airport Co. Ltd., Class H (Industrials)*	364,219
	325,113	Beijing Enterprises Holdings Ltd. (Utilities)	1,256,305
	6,782	Beijing Kingsoft Office Software, Inc., Class A (Information Technology)*	411,157
	49,406	Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A (Health Care)*	644,806
	199,858	Beijing Yanjing Brewery Co. Ltd., Class A (Consumer Staples)	324,224
	503,200	Beijing-Shanghai High Speed Railway Co. Ltd., Class A (Industrials)	407,458
	66,511	Bloomage Biotechnology Corp. Ltd., Class A (Health Care)*	822,217
	47,240	BOC Aviation Ltd. (Industrials)(a)	347,289
	1,113,218	BOE Technology Group Co. Ltd., Class A (Information Technology)*	620,208
	2,169,677	Bosideng International Holdings Ltd. (Consumer Discretionary)	900,770
	13,323	BYD Co. Ltd., Class A (Consumer Discretionary)	474,264
	60,351	BYD Co. Ltd., Class H (Consumer Discretionary)	1,822,499
	122,216	BYD Electronic International Co. Ltd. (Information Technology)	355,958
	178,193	By-health Co. Ltd., Class A (Consumer Staples)	568,653

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	145,262	C&D International Investment Group Ltd. (Real Estate)*	$       365,185
	387,744	Caitong Securities Co. Ltd., Class A (Financials)	407,017
	100,826	Canmax Technologies Co. Ltd., Class A (Materials)	473,440
	4,034,475	CGN Power Co. Ltd., Class H (Utilities)(a)	968,903
	13,199	Changchun High & New Technology Industry Group, Inc., Class A (Health Care)	295,254
	429,716	Changjiang Securities Co. Ltd., Class A (Financials)	362,429
	56,561	Chengxin Lithium Group Co. Ltd., Class A (Materials)	239,871
	4,019,015	China Cinda Asset Management Co. Ltd., Class H (Financials)	446,657
	2,882,458	China CITIC Bank Corp. Ltd., Class H (Financials)	1,517,035
	1,235,951	China Communications Services Corp. Ltd., Class H (Industrials)	587,326
	1,243,713	China Construction Bank Corp., Class A (Financials)	1,117,034
	11,937,470	China Construction Bank Corp., Class H (Financials)	7,639,859
	1,341,824	China Everbright Bank Co. Ltd., Class A (Financials)	593,161
	2,643,894	China Everbright Bank Co. Ltd., Class H (Financials)*	813,948
	1,644,834	China Feihe Ltd. (Consumer Staples)(a)	956,024
	311,618	China Galaxy Securities Co. Ltd., Class A (Financials)	496,784
	1,129,021	China Galaxy Securities Co. Ltd., Class H (Financials)	608,625
	72,600	China Life Insurance Co. Ltd., Class A (Financials)	380,432
	625,929	China Life Insurance Co. Ltd., Class H (Financials)	1,057,041
	1,255,465	China Medical System Holdings Ltd. (Health Care)	1,764,138
	571,820	China Mengniu Dairy Co. Ltd. (Consumer Staples)*	2,220,589
	213,830	China Merchants Bank Co. Ltd., Class A (Financials)	969,254

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	414,166	China Merchants Bank Co. Ltd., Class H (Financials)	$    1,925,800
	313,130	China Merchants Port Holdings Co. Ltd. (Industrials)	454,400
	185,296	China Merchants Securities Co. Ltd., Class A (Financials)	361,709
	289,295	China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A (Real Estate)	514,786
	1,835,357	China Minsheng Banking Corp. Ltd., Class A (Financials)	1,019,958
	3,114,703	China Minsheng Banking Corp. Ltd., Class H (Financials)	1,233,428
	71,000	China National Medicines Corp. Ltd., Class A (Health Care)	398,552
	415,345	China National Nuclear Power Co. Ltd., Class A (Utilities)	410,344
	34,382	China National Software & Service Co. Ltd., Class A (Information Technology)	293,022
	61,592	China Northern Rare Earth Group High-Tech Co. Ltd., Class A (Materials)	206,234
	305,269	China Oilfield Services Ltd., Class H (Energy)	311,187
	131,700	China Pacific Insurance Group Co. Ltd., Class A (Financials)	514,727
	191,990	China Pacific Insurance Group Co. Ltd., Class H (Financials)	485,601
	1,859,414	China Petroleum & Chemical Corp., Class A (Energy)	1,659,585
	4,104,864	China Petroleum & Chemical Corp., Class H (Energy)	2,585,122
	614,704	China Railway Group Ltd., Class A (Industrials)	680,627
	971,955	China Railway Group Ltd., Class H (Industrials)	640,665
	616,292	China Railway Signal & Communication Corp. Ltd., Class A (Information Technology)	515,465
	179,956	China Resources Beer Holdings Co. Ltd. (Consumer Staples)	1,135,608
	131,066	China Resources Land Ltd. (Real Estate)	490,561
	793,856	China Resources Pharmaceutical Group Ltd. (Health Care)(a)	761,583

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	107,248	China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A (Health Care)	$       983,109
	168,899	China Shenhua Energy Co. Ltd., Class A (Energy)	669,120
	687,894	China Shenhua Energy Co. Ltd., Class H (Energy)	2,174,864
	1,012,237	China State Construction Engineering Corp. Ltd., Class A (Industrials)	838,109
	314,314	China Taiping Insurance Holdings Co. Ltd. (Financials)	327,634
	606,800	China Three Gorges Renewables Group Co. Ltd., Class A (Utilities)	462,394
	12,131,116	China Tower Corp. Ltd., Class H (Communication Services)(a)	1,332,707
	1,603,981	China Traditional Chinese Medicine Holdings Co. Ltd. (Health Care)	772,460
	1,849,979	China United Network Communications Ltd., Class A (Communication Services)	1,277,316
	258,527	China Yangtze Power Co. Ltd., Class A (Utilities)	816,672
	2,107,227	China Zheshang Bank Co. Ltd., Class A (Financials)	848,711
	65,708	Chongqing Brewery Co. Ltd., Class A (Consumer Staples)	822,618
	785,539	Chongqing Rural Commercial Bank Co. Ltd., Class A (Financials)	435,443
	49,846	Chongqing Zhifei Biological Products Co. Ltd., Class A (Health Care)	491,689
	234,894	Chow Tai Fook Jewellery Group Ltd. (Consumer Discretionary)	415,882
	1,447,908	CITIC Ltd. (Industrials)	1,672,033
	148,582	CITIC Securities Co. Ltd., Class A (Financials)	418,068
	223,736	CITIC Securities Co. Ltd., Class H (Financials)	412,132
	157,392	COSCO SHIPPING Energy Transportation Co. Ltd., Class A (Energy)*	247,161
	276,598	COSCO SHIPPING Holdings Co. Ltd., Class A (Industrials)	405,243
	615,895	COSCO SHIPPING Holdings Co. Ltd., Class H (Industrials)	542,864

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	1,531,127	Country Garden Holdings Co. Ltd. (Real Estate)(b)	$       281,650
	764,485	CRRC Corp. Ltd., Class A (Industrials)	755,280
	2,120,676	CRRC Corp. Ltd., Class H (Industrials)	1,313,867
	2,323,798	CSPC Pharmaceutical Group Ltd. (Health Care)	2,024,501
	247,484	Daan Gene Co. Ltd., Class A (Health Care)*	425,104
	1,382,466	Dali Foods Group Co. Ltd. (Consumer Staples)(a)	460,925
	436,290	Daqin Railway Co. Ltd., Class A (Industrials)	467,773
	13,562	Daqo New Energy Corp. ADR (Information Technology)*	487,554
	81,882	DaShenLin Pharmaceutical Group Co. Ltd., Class A (Consumer Staples)	374,029
	461,831	DHC Software Co. Ltd., Class A (Information Technology)	477,658
	115,296	Dong-E-E-Jiao Co. Ltd., Class A (Health Care)	798,810
	909,349	Dongfeng Motor Group Co. Ltd., Class H (Consumer Discretionary)	393,791
	342,046	Dongxing Securities Co. Ltd., Class A (Financials)	393,129
	302,657	Dongyue Group Ltd. (Materials)	264,836
	144,674	East Buy Holding Ltd. (Consumer Discretionary)*(a)(b)	536,873
	84,617	Ecovacs Robotics Co. Ltd., Class A (Consumer Discretionary)	822,207
	36,306	ENN Energy Holdings Ltd. (Utilities)	422,041
	186,958	ENN Natural Gas Co. Ltd., Class A (Utilities)	507,944
	434,819	Fangda Carbon New Material Co. Ltd., Class A (Industrials)*	385,649
	479,549	Far East Horizon Ltd. (Financials)	401,858
	407,500	Founder Securities Co. Ltd., Class A (Financials)	399,162
	268,734	Foxconn Industrial Internet Co. Ltd., Class A (Information Technology)	680,716
	66,297	Fuyao Glass Industry Group Co. Ltd., Class A (Consumer Discretionary)	301,815
	11,857	G-bits Network Technology Xiamen Co. Ltd., Class A (Communication Services)	931,598

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	363,734	Geely Automobile Holdings Ltd. (Consumer Discretionary)	$       423,290
	127,578	GF Securities Co. Ltd., Class A (Financials)	266,765
	162,000	Giant Network Group Co. Ltd., Class A (Communication Services)	473,783
	79,947	Gree Electric Appliances Inc of Zhuhai, Class A (Consumer Discretionary)	370,015
	55,100	Guangdong Haid Group Co. Ltd., Class A (Consumer Staples)	357,549
	169,404	Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A (Health Care)	853,463
	293,731	Guangzhou Haige Communications Group, Inc. Co., Class A (Information Technology)	413,444
	80,914	Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A (Health Care)	784,976
	65,586	Guangzhou Tinci Materials Technology Co. Ltd., Class A (Materials)	376,352
	266,767	Guosen Securities Co. Ltd., Class A (Financials)	344,793
	192,337	Guotai Junan Securities Co. Ltd., Class A (Financials)	399,476
	407,497	Guoyuan Securities Co. Ltd., Class A (Financials)	383,147
	12,826	H World Group Ltd. ADR (Consumer Discretionary)*	469,688
	681,129	Haidilao International Holding Ltd. (Consumer Discretionary)*(a)	1,433,910
	231,201	Haier Smart Home Co. Ltd., Class A (Consumer Discretionary)	696,932
	459,454	Haier Smart Home Co. Ltd., Class H (Consumer Discretionary)	1,317,631
	142,583	Haitian International Holdings Ltd. (Industrials)	323,843
	290,630	Haitong Securities Co. Ltd., Class A (Financials)	383,792
	549,593	Haitong Securities Co. Ltd., Class H (Financials)	365,073
	234,600	Hangzhou Binjiang Real Estate Group Co. Ltd., Class A (Real Estate)	277,538
	80,340	Hangzhou Robam Appliances Co. Ltd., Class A (Consumer Discretionary)	263,373

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	137,573	Hansoh Pharmaceutical Group Co. Ltd. (Health Care)(a)	$       227,758
	220,242	Heilongjiang Agriculture Co. Ltd., Class A (Consumer Staples)	413,236
	108,723	Henan Shuanghui Investment & Development Co. Ltd., Class A (Consumer Staples)	375,033
	79,710	Hengan International Group Co. Ltd. (Consumer Staples)	339,072
	1,301,980	Hesteel Co. Ltd., Class A (Materials)	418,414
	52,357	Hithink RoyalFlush Information Network Co. Ltd., Class A (Financials)	1,181,776
	643,954	Huadian Power International Corp. Ltd., Class A (Utilities)	644,334
	120,584	Huadong Medicine Co. Ltd., Class A (Health Care)	658,949
	202,525	Huatai Securities Co. Ltd., Class A (Financials)	384,541
	352,829	Huatai Securities Co. Ltd., Class H (Financials)(a)	441,248
	328,156	Huaxi Securities Co. Ltd., Class A (Financials)	382,230
	1,419,877	Huaxia Bank Co. Ltd., Class A (Financials)	1,151,715
	183,526	Huayu Automotive Systems Co. Ltd., Class A (Consumer Discretionary)	449,685
	154,600	Hubei Jumpcan Pharmaceutical Co. Ltd., Class A (Health Care)*	687,974
	97,642	Hubei Xingfa Chemicals Group Co. Ltd., Class A (Materials)	293,099
	69,616	Hygeia Healthcare Holdings Co. Ltd. (Health Care)*(a)	409,519
	1,950,748	Industrial & Commercial Bank of China Ltd., Class A (Financials)	1,322,253
	6,634,568	Industrial & Commercial Bank of China Ltd., Class H (Financials)	3,551,093
	443,824	Industrial Bank Co. Ltd., Class A (Financials)	1,031,425
	107,754	Inner Mongolia Yili Industrial Group Co. Ltd., Class A (Consumer Staples)	435,655
	96,276	Innovent Biologics, Inc. (Health Care)*(a)	451,356
	136,104	iQIYI, Inc. ADR (Communication Services)*	552,582
	101,935	Jafron Biomedical Co. Ltd., Class A (Health Care)	395,249

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	56,596	JD Health International, Inc. (Consumer Staples)*(a)	$       348,834
	219,988	JD.com, Inc., Class A (Consumer Discretionary)	3,538,018
	438,404	Jiangsu Expressway Co. Ltd., Class H (Industrials)	423,941
	265,376	Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A (Health Care)	1,696,354
	39,632	Jiangsu Pacific Quartz Co. Ltd., Class A (Information Technology)	632,873
	196,675	Jiangxi Copper Co. Ltd., Class A (Materials)	510,608
	339,497	Jiangxi Copper Co. Ltd., Class H (Materials)	510,877
	26,435	JiuGui Liquor Co. Ltd., Class A (Consumer Staples)	351,351
	455,978	Jiumaojiu International Holdings Ltd. (Consumer Discretionary)(a)	780,520
	232,332	Joincare Pharmaceutical Group Industry Co. Ltd., Class A (Health Care)	447,658
	330,387	Jointown Pharmaceutical Group Co. Ltd., Class A (Health Care)	752,039
	16,560	JOYY, Inc. ADR (Communication Services)	410,688
	314,031	Kingboard Holdings Ltd. (Information Technology)	846,429
	103,800	Kingsoft Corp. Ltd. (Communication Services)*	377,238
	221,693	Kuaishou Technology (Communication Services)*(a)	1,500,939
	65,000	Kunlun Tech Co. Ltd., Class A (Communication Services)	523,317
	10,153	Kweichow Moutai Co. Ltd., Class A (Consumer Staples)	2,320,893
	2,354,771	Lenovo Group Ltd. (Information Technology)	2,213,919
	274,613	Li Ning Co. Ltd. (Consumer Discretionary)	1,473,349
	1,604,167	Liaoning Port Co. Ltd., Class A (Industrials)	353,440
	277,436	Longfor Group Holdings Ltd. (Real Estate)(a)	533,732
	16,405	Luzhou Laojiao Co. Ltd., Class A (Consumer Staples)	469,717
	461,489	Meituan, Class B (Consumer Discretionary)*(a)	6,496,482

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	1,163,496	Metallurgical Corp. of China Ltd., Class A (Industrials)	$       658,016
	24,118	MINISO Group Holding Ltd. ADR (Consumer Discretionary)	366,594
	44,730	Muyuan Foods Co. Ltd., Class A (Consumer Staples)	251,401
	211,476	NetEase, Inc. (Communication Services)	3,582,118
	80,141	New China Life Insurance Co. Ltd., Class A (Financials)	413,762
	174,384	New China Life Insurance Co. Ltd., Class H (Financials)	451,094
	270,314	New Oriental Education & Technology Group, Inc. (Consumer Discretionary)*	1,032,464
	336,424	Nongfu Spring Co. Ltd., Class H (Consumer Staples)(a)	1,804,977
	748,192	Offshore Oil Engineering Co. Ltd., Class A (Energy)	644,685
	56,248	PDD Holdings, Inc. ADR (Consumer Discretionary)*	3,674,119
	540,023	People’s Insurance Co. Group of China Ltd. (The), Class A (Financials)	463,799
	2,442,976	People’s Insurance Co. Group of China Ltd. (The), Class H (Financials)	923,733
	2,777,930	PetroChina Co. Ltd., Class A (Energy)	2,923,809
	4,682,489	PetroChina Co. Ltd., Class H (Energy)	3,026,653
	1,873,960	PICC Property & Casualty Co. Ltd., Class H (Financials)	2,233,455
	211,507	Ping An Bank Co. Ltd., Class A (Financials)	344,310
	126,132	Ping An Insurance Group Co. of China Ltd., Class A (Financials)	831,935
	622,877	Ping An Insurance Group Co. of China Ltd., Class H (Financials)	3,954,522
	1,428,184	Postal Savings Bank of China Co. Ltd., Class A (Financials)	1,030,181
	1,376,705	Postal Savings Bank of China Co. Ltd., Class H (Financials)(a)	865,249
	228,104	Power Construction Corp. of China Ltd., Class A (Industrials)	212,233
	60,914	Qifu Technology, Inc. ADR (Financials)	837,568
	277,096	Qinghai Salt Lake Industry Co. Ltd., Class A (Materials)*	730,674

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	207,867	SAIC Motor Corp. Ltd., Class A (Consumer Discretionary)	$       391,475
	34,224	Sangfor Technologies, Inc., Class A (Information Technology)	598,481
	477,900	SDIC Capital Co. Ltd., Class A (Financials)	495,619
	217,100	SDIC Power Holdings Co. Ltd., Class A (Utilities)	401,856
	181,429	Seazen Holdings Co. Ltd., Class A (Real Estate)*	355,943
	22,280	SG Micro Corp., Class A (Information Technology)	339,056
	134,279	Shaanxi Coal Industry Co. Ltd., Class A (Energy)	315,826
	194,997	Shandong Buchang Pharmaceuticals Co. Ltd., Class A (Health Care)	620,363
	181,778	Shandong Gold Mining Co. Ltd., Class A (Materials)	644,123
	225,492	Shandong Weigao Group Medical Polymer Co. Ltd., Class H (Health Care)	333,561
	1,055,200	Shanghai Construction Group Co. Ltd., Class A (Industrials)	390,935
	640,566	Shanghai Electric Group Co. Ltd., Class A (Industrials)*	434,188
	97,452	Shanghai Fudan Microelectronics Group Co. Ltd., Class H (Information Technology)	262,046
	693,298	Shanghai International Port Group Co. Ltd., Class A (Industrials)	512,740
	186,383	Shanghai Lingang Holdings Corp. Ltd., Class A (Real Estate)	342,645
	207,708	Shanghai Pharmaceuticals Holding Co. Ltd., Class A (Health Care)	683,538
	1,035,892	Shanghai Pudong Development Bank Co. Ltd., Class A (Financials)	1,068,484
	449,223	Shanghai RAAS Blood Products Co. Ltd., Class A (Health Care)	423,641
	495,008	Shanghai Rural Commercial Bank Co. Ltd., Class A (Financials)	409,855
	330,710	Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A (Consumer Discretionary)	329,977
	481,939	Shanxi Securities Co. Ltd., Class A (Financials)	393,624
	834,876	Shanxi Taigang Stainless Steel Co. Ltd., Class A (Materials)	466,306

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	28,441	Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A (Consumer Staples)	$       837,488
	161,028	Shengyi Technology Co. Ltd., Class A (Information Technology)	344,844
	706,669	Shenwan Hongyuan Group Co. Ltd., Class A (Financials)	468,085
	411,200	Shenzhen Energy Group Co. Ltd., Class A (Utilities)	398,747
	325,576	Shenzhen International Holdings Ltd. (Industrials)	258,273
	53,804	Shenzhen Kstar Science And Technology Co. Ltd., Class A (Industrials)	292,434
	15,545	Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A (Health Care)	655,718
	708,693	Shenzhen Overseas Chinese Town Co. Ltd., Class A (Consumer Discretionary)	472,409
	74,018	Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A (Health Care)	364,284
	214,873	Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A (Health Care)	863,919
	459,262	Shimao Group Holdings Ltd. (Real Estate)*(b)(c)	129,655
	176,866	Sichuan Chuantou Energy Co. Ltd., Class A (Utilities)	369,826
	209,331	Sichuan Kelun Pharmaceutical Co. Ltd., Class A (Health Care)	909,790
	250,255	Sichuan Road and Bridge Group Co. Ltd., Class A (Industrials)	533,817
	78,714	Sichuan Swellfun Co. Ltd., Class A (Consumer Staples)	644,112
	64,469	Silergy Corp. (Information Technology)	840,284
	223,500	Sinoma International Engineering Co., Class A (Industrials)	417,153
	869,700	Sinopec Shanghai Petrochemical Co. Ltd., Class A (Materials)	383,235
	253,698	Sinopharm Group Co. Ltd., Class H (Health Care)	831,265
	380,230	SooChow Securities Co. Ltd., Class A (Financials)	383,656
	623,927	Southwest Securities Co. Ltd., Class A (Financials)	325,719
	36,247	Sunny Optical Technology Group Co. Ltd. (Information Technology)	340,789

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	108,219	TAL Education Group ADR (Consumer Discretionary)*	$       587,629
	313,123	Tangshan Jidong Cement Co. Ltd., Class A (Materials)	338,794
	65,501	TBEA Co. Ltd., Class A (Industrials)	205,627
	683,085	TCL Technology Group Corp., Class A (Consumer Discretionary)	370,023
	758,343	Tencent Holdings Ltd. (Communication Services)	30,088,632
	137,243	Tencent Music Entertainment Group ADR (Communication Services)*	952,466
	274,026	Tianma Microelectronics Co. Ltd., Class A (Information Technology)*	371,864
	60,900	Tianqi Lithium Corp., Class A (Materials)*	614,829
	1,125,383	Tingyi Cayman Islands Holding Corp. (Consumer Staples)	1,687,733
	75,827	Tongwei Co. Ltd., Class A (Information Technology)	363,077
	2,048,675	Topsports International Holdings Ltd. (Consumer Discretionary)(a)	1,591,153
	27,190	Trip.com Group Ltd. ADR (Consumer Discretionary)*	858,660
	56,888	Tsingtao Brewery Co. Ltd., Class H (Consumer Staples)	489,797
	1,338,040	Uni-President China Holdings Ltd. (Consumer Staples)*	1,162,287
	185,339	Vipshop Holdings Ltd. ADR (Consumer Discretionary)*	2,654,054
	1,820,841	Want Want China Holdings Ltd. (Consumer Staples)	1,218,817
	389,742	Western Securities Co. Ltd., Class A (Financials)	354,420
	1,814,900	Wintime Energy Group Co. Ltd. (Utilities)*	379,494
	916,065	Wuchan Zhongda Group Co. Ltd., Class A (Consumer Discretionary)	662,064
	28,889	Wuliangye Yibin Co. Ltd., Class A (Consumer Staples)	653,446
	88,596	Wuxi Biologics Cayman, Inc. (Health Care)*(a)	453,265
	521,317	XCMG Construction Machinery Co. Ltd., Class A (Industrials)	437,491
	411,887	Xiamen C & D, Inc., Class A (Industrials)	671,084

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	567,994	Xiaomi Corp., Class B (Information Technology)*(a)	$       750,239
	280,235	Yadea Group Holdings Ltd. (Consumer Discretionary)(a)	558,447
	251,050	Yankuang Energy Group Co. Ltd., Class H (Energy)	636,264
	225,456	Yihai International Holding Ltd. (Consumer Staples)*	499,973
	69,463	YongXing Special Materials Technology Co. Ltd., Class A (Materials)	616,567
	452,836	Youngor Group Co. Ltd., Class A (Real Estate)	436,580
	25,420	Youngy Co. Ltd., Class A (Materials)*	219,426
	137,988	YTO Express Group Co. Ltd., Class A (Industrials)	298,021
	712,854	Yuexiu Property Co. Ltd. (Real Estate)(b)	772,203
	62,153	Yum China Holdings, Inc. (Consumer Discretionary)	3,509,158
	50,130	Yunnan Baiyao Group Co. Ltd., Class A (Health Care)	378,835
	63,446	Yunnan Botanee Bio-Technology Group Co. Ltd., Class A (Consumer Staples)	821,010
	144,800	Zangge Mining Co. Ltd., Class A (Materials)	466,966
	8,997	Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A (Health Care)	384,081
	341,500	Zhaojin Mining Industry Co. Ltd., Class H (Materials)*	485,099
	670,500	Zhefu Holding Group Co. Ltd., Class A (Industrials)	382,965
	346,800	Zhejiang China Commodities City Group Co. Ltd., Class A (Real Estate)	400,539
	611,341	Zhejiang Expressway Co. Ltd., Class H (Industrials)(b)	452,946
	293,400	Zhejiang Longsheng Group Co. Ltd., Class A (Materials)	391,156
	63,836	Zhejiang Supor Co. Ltd., Class A (Consumer Discretionary)	400,532
	280,781	Zhejiang Weixing New Building Materials Co. Ltd., Class A (Industrials)	760,880
	49,765	Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., Class A (Health Care)	266,291

Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	38,800	Zhongji Innolight Co. Ltd., Class A, 02/28/23 (Information Technology)*	$       585,338
	327,500	Zhongjin Gold Corp. Ltd., Class A (Materials)	516,128
	160,162	Zhongsheng Group Holdings Ltd. (Consumer Discretionary)	591,279
	365,164	Zhongtai Securities Co. Ltd., Class A (Financials)	348,981
	427,540	Zijin Mining Group Co. Ltd., Class H (Materials)	580,011
	463,437	Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A (Industrials)	411,681
	136,500	ZTE Corp., Class H, 02/28/23 (Information Technology)	419,356
	13,900	ZTO Express Cayman, Inc. ADR (Industrials)	350,836
			302,557,932
	Czech Republic – 0.2%
	14,471	CEZ AS (Utilities)	648,129
	20,066	Komercni banka AS (Financials)	595,396
	162,712	Moneta Money Bank AS (Financials)(a)	578,042
			1,821,567
	Egypt – 0.4%
	1,453,033	Commercial International Bank Egypt SAE (Financials)	2,459,341
	2,710,543	Eastern Co. SAE (Consumer Staples)	1,672,817
			4,132,158
	Greece – 0.8%
	604,133	Eurobank Ergasias Services and Holdings SA (Financials)*	940,337
	185,456	Hellenic Telecommunications Organization SA (Communication Services)	2,831,274
	19,990	JUMBO SA (Consumer Discretionary)	462,456
	15,132	Motor Oil Hellas Corinth Refineries SA (Energy)	389,109
	25,898	Mytilineos SA (Industrials)	813,939
	80,900	National Bank of Greece SA (Financials)*	500,236
	92,434	OPAP SA (Consumer Discretionary)	1,574,732
			7,512,083

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Hong Kong – 0.2%
	51,557	Orient Overseas International Ltd. (Industrials)	$       628,636
	2,499,806	Sino Biopharmaceutical Ltd. (Health Care)	1,191,106
			1,819,742
	Hungary – 0.2%
	136,896	MOL Hungarian Oil & Gas PLC (Energy)	1,110,011
	17,060	OTP Bank Nyrt (Financials)	529,528
	16,510	Richter Gedeon Nyrt (Health Care)	414,191
			2,053,730
	India – 13.5%
	8,200	ABB India Ltd. (Industrials)	408,940
	20,780	ACC Ltd. (Materials)*	446,384
	21,228	Adani Enterprises Ltd. (Industrials)	639,763
	225,197	Adani Power Ltd. (Utilities)*	679,550
	55,003	Asian Paints Ltd. (Materials)	2,122,783
	168,956	Aurobindo Pharma Ltd. (Health Care)	1,345,000
	21,603	Avenue Supermarts Ltd. (Consumer Staples)*(a)	906,415
	170,703	Axis Bank Ltd. (Financials)	1,887,635
	13,430	Bajaj Finance Ltd. (Financials)	1,134,673
	20,925	Bajaj Finserv Ltd. (Financials)	367,007
	335,094	Bank of Baroda (Financials)	749,317
	68,834	Berger Paints India Ltd. (Materials)	541,183
	314,700	Bharat Electronics Ltd. (Industrials)	426,602
	126,626	Bharat Petroleum Corp. Ltd. (Energy)	556,358
	170,065	Bharti Airtel Ltd. (Communication Services)	1,747,068
	52,029	Britannia Industries Ltd. (Consumer Staples)	2,928,757
	156,692	CG Power & Industrial Solutions Ltd. (Industrials)	744,047
	39,614	Cholamandalam Investment and Finance Co. Ltd. (Financials)	503,196
	175,081	Cipla Ltd. (Health Care)	2,016,888
	204,490	Coal India Ltd. (Energy)	596,302
	101,864	Colgate-Palmolive India Ltd. (Consumer Staples)	1,959,480
	205,172	Dabur India Ltd. (Consumer Staples)	1,377,371
	22,798	Divi’s Laboratories Ltd. (Health Care)	948,935
	32,599	Dr. Reddy’s Laboratories Ltd. (Health Care)	1,773,557

Shares		Description	Value
	Common Stocks – (continued)
	India – (continued)
	12,373	Eicher Motors Ltd. (Consumer Discretionary)	$       549,160
	387,120	GAIL India Ltd. (Utilities)	490,381
	45,472	Grasim Industries Ltd. (Materials)	944,458
	89,413	Havells India Ltd. (Industrials)	1,413,575
	288,195	HCL Technologies Ltd. (Information Technology)	3,988,934
	108,076	HDFC Life Insurance Co. Ltd. (Financials)*(a)	773,811
	214,413	Hindalco Industries Ltd. (Materials)	1,051,955
	13,300	Hindustan Aeronautics Ltd. (Industrials)	501,098
	87,935	Hindustan Unilever Ltd. (Consumer Staples)	2,835,315
	167,959	Housing Development Finance Corp. Ltd. (Financials)	5,360,435
	445,187	ICICI Bank Ltd. (Financials)	5,107,452
	46,339	ICICI Lombard General Insurance Co. Ltd. (Financials)(a)	662,107
	151,634	Indian Hotels Co. Ltd. (Consumer Discretionary)	714,256
	924,527	Indian Oil Corp. Ltd. (Energy)	1,005,748
	441,899	Infosys Ltd. (Information Technology)	7,041,485
	485,876	ITC Ltd. (Consumer Staples)	2,616,376
	154,347	Jindal Steel & Power Ltd. (Materials)	964,996
	102,316	JSW Steel Ltd. (Materials)	861,126
	169,229	Jubilant Foodworks Ltd. (Consumer Discretionary)	988,595
	25,054	Kotak Mahindra Bank Ltd. (Financials)	610,013
	73,069	Larsen & Toubro Ltd. (Industrials)	1,948,035
	43,777	LTIMindtree Ltd. (Information Technology)(a)	2,644,868
	54,630	Lupin Ltd. (Health Care)	531,232
	137,766	Mahindra & Mahindra Ltd. (Consumer Discretionary)	2,196,412
	339,401	Marico Ltd. (Consumer Staples)	2,227,819
	6,282	Maruti Suzuki India Ltd. (Consumer Discretionary)	711,308
	33,129	Mphasis Ltd. (Information Technology)	779,593
	412	MRF Ltd. (Consumer Discretionary)	484,109
	59,996	Muthoot Finance Ltd. (Financials)	808,945
	10,167	Nestle India Ltd. (Consumer Staples)	2,663,427
	652,632	NTPC Ltd. (Utilities)	1,371,419
	377,320	Oil & Natural Gas Corp. Ltd. (Energy)	706,461

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	India – (continued)
	4,617	Page Industries Ltd. (Consumer Discretionary)	$    2,163,944
	9,310	PI Industries Ltd. (Materials)	407,006
	50,954	Pidilite Industries Ltd. (Materials)	1,606,157
	679,240	Power Grid Corp. of India Ltd. (Utilities)	1,919,940
	278,738	Reliance Industries Ltd. (Energy)	8,321,518
	48,524	SBI Life Insurance Co. Ltd. (Financials)(a)	724,353
	37,023	Siemens Ltd. (Industrials)	1,589,384
	15,076	SRF Ltd. (Materials)	459,167
	218,635	State Bank of India (Financials)	1,532,365
	81,837	Sun Pharmaceutical Industries Ltd. (Health Care)	964,800
	153,004	Tata Consultancy Services Ltd. (Information Technology)	6,083,586
	79,473	Tata Consumer Products Ltd. (Consumer Staples)	767,190
	7,852	Tata Elxsi Ltd. (Information Technology)	704,372
	361,537	Tata Motors Ltd. (Consumer Discretionary)*	2,299,922
	161,321	Tata Power Co. Ltd. (The) (Utilities)	416,406
	2,053,244	Tata Steel Ltd. (Materials)	2,625,749
	216,931	Tech Mahindra Ltd. (Information Technology)	2,925,079
	24,692	Titan Co. Ltd. (Consumer Discretionary)	842,622
	70,649	Torrent Pharmaceuticals Ltd. (Health Care)	1,567,684
	21,694	Tube Investments of India Ltd. (Consumer Discretionary)	750,724
	28,774	TVS Motor Co. Ltd. (Consumer Discretionary)	453,111
	17,481	UltraTech Cement Ltd. (Materials)	1,662,918
	103,300	UPL Ltd. (Materials)	855,424
	58,148	Varun Beverages Ltd. (Consumer Staples)	1,190,942
	404,872	Vedanta Ltd. (Materials)	1,361,940
	284,460	Wipro Ltd. (Information Technology)	1,387,884
			127,946,302
	Indonesia – 2.0%
	1,899,325	Adaro Energy Indonesia Tbk PT (Energy)	258,480
	5,193,209	Aneka Tambang Tbk (Materials)	656,513
	4,116,009	Astra International Tbk PT (Industrials)	1,771,065
	4,090,105	Bank Central Asia Tbk PT (Financials)	2,469,343
	3,085,596	Bank Mandiri Persero Tbk PT (Financials)	1,039,510

Shares		Description	Value
	Common Stocks – (continued)
	Indonesia – (continued)
	1,449,466	Bank Negara Indonesia Persero Tbk PT (Financials)	$       875,095
	3,386,283	Bank Rakyat Indonesia Persero Tbk PT (Financials)	1,259,408
	966,300	Indah Kiat Pulp & Paper Tbk PT (Materials)	444,795
	2,257,637	Indofood CBP Sukses Makmur Tbk PT (Consumer Staples)	1,762,132
	3,133,953	Indofood Sukses Makmur Tbk PT (Consumer Staples)	1,484,394
	12,180,453	Kalbe Farma Tbk PT (Health Care)	1,649,521
	7,038,334	Sumber Alfaria Trijaya Tbk PT (Consumer Staples)	1,239,573
	10,824,229	Telkom Indonesia Persero Tbk PT (Communication Services)	2,917,270
	4,189,201	Unilever Indonesia Tbk PT (Consumer Staples)	1,265,983
			19,093,082
	Kuwait – 0.6%
	333,299	Agility Public Warehousing Co. KSC (Industrials)	661,724
	215,952	Boubyan Bank KSCP (Financials)	421,028
	821,079	Kuwait Finance House KSCP (Financials)	1,886,281
	937,898	National Bank of Kuwait SAKP (Financials)	2,803,789
			5,772,822
	Luxembourg – 0.1%
	43,376	Reinet Investments SCA (Financials)	853,675
	Mexico – 2.8%
	859,368	Alfa SAB de CV, Class A (Industrials)	524,092
	3,615,302	America Movil SAB de CV, Series B (Communication Services)	3,843,673
	54,592	Arca Continental SAB de CV (Consumer Staples)	549,755
	2,709,052	Cemex SAB de CV, Series CPO (Materials)*	1,623,151
	110,927	Coca-Cola Femsa SAB de CV (Consumer Staples)	907,555
	859,368	Controladora Axtel SAB de CV (Communication Services)*	13,114
	352,489	Fomento Economico Mexicano SAB de CV (Consumer Staples)	3,535,559

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Mexico – (continued)
	139,688	Gruma SAB de CV, Class B (Consumer Staples)	$    2,138,633
	754,086	Grupo Bimbo SAB de CV, Series A (Consumer Staples)	4,015,394
	80,194	Grupo Carso SAB de CV, Series A1 (Industrials)	475,205
	341,148	Grupo Financiero Banorte SAB de CV, Class O (Financials)	2,723,882
	262,826	Grupo Mexico SAB de CV, Series B (Materials)	1,161,965
	257,700	Kimberly-Clark de Mexico SAB de CV, Class A (Consumer Staples)	522,126
	230,803	Orbia Advance Corp. SAB de CV (Materials)	477,248
	43,702	Promotora y Operadora de Infraestructura SAB de CV (Industrials)	420,329
	969,082	Wal-Mart de Mexico SAB de CV (Consumer Staples)	3,668,249
			26,599,930
	Philippines – 0.1%
	614,678	Bank of the Philippine Islands (Financials)	1,093,965
	40,720	Manila Electric Co. (Utilities)	237,098
			1,331,063
	Poland – 0.8%
	34,316	Bank Pekao SA (Financials)	776,643
	15,668	CD Projekt SA (Communication Services)(b)	446,473
	24,031	Dino Polska SA (Consumer Staples)*(a)	2,350,979
	533	LPP SA (Consumer Discretionary)*	1,503,791
	108,809	Powszechna Kasa Oszczednosci Bank Polski SA (Financials)	820,689
	196,636	Powszechny Zaklad Ubezpieczen SA (Financials)	1,783,628
			7,682,203
	Qatar – 1.0%
	547,675	Commercial Bank PSQC (The) (Financials)	842,577
	98,165	Industries Qatar QSC (Industrials)	323,082
	301,880	Masraf Al Rayan QSC (Financials)	211,482
	700,250	Ooredoo QPSC (Communication Services)	2,041,113

Shares		Description	Value
	Common Stocks – (continued)
	Qatar – (continued)
	391,573	Qatar International Islamic Bank QSC (Financials)	$    1,074,674
	347,684	Qatar Islamic Bank (Financials)	1,673,468
	740,312	Qatar National Bank QPSC (Financials)	3,256,152
			9,422,548
	Romania – 0.1%
	124,372	NEPI Rockcastle NV (Real Estate)	706,958
	Russia – 0.0%
	1,256,908	Gazprom PJSC (Energy)(c)	—
	35,708,229	Inter RAO UES PJSC (Utilities)(c)	—
	62,206	LUKOIL PJSC (Energy)(c)	—
	11,906	MMC Norilsk Nickel PJSC (Materials)(c)	—
	824,628	Moscow Exchange MICEX-RTS PJSC (Financials)*(c)	—
	5,200	Novatek PJSC GDR (Energy)*(c)	—
	839,494	Novolipetsk Steel PJSC (Materials)*(c)	—
	127,440	PhosAgro PJSC GDR (Materials)*(c)	—
	820	PhosAgro PJSC (Materials)*(c)	—
	73,809	Polymetal International PLC (Materials)*(c)	—
	11,287	Polyus PJSC (Materials)*(c)	—
	90,086	Rosneft Oil Co. PJSC (Energy)(c)	—
	1,661,273	Sberbank of Russia PJSC (Financials)(c)	—
	152,107	Severstal PAO (Materials)*(c)	—
	3,362,523	Surgutneftegas PJSC (Energy)(c)	—
	277,377	Tatneft PJSC (Energy)(c)	—
	29,482	TCS Group Holding PLC GDR (Financials)*(c)	—
	799,132,583	VTB Bank PJSC (Financials)*(c)	—
	69,395	X5 Retail Group NV GDR (Consumer Staples)*(c)	—
	41,484	Yandex NV, Class A (Communication Services)*(c)	—
			—
	Saudi Arabia – 3.9%
	12,484	ACWA Power Co. (Utilities)	496,591
	33,113	Advanced Petrochemical Co. (Materials)	385,795
	213,465	Al Rajhi Bank (Financials)	4,023,668
	77,714	Alinma Bank (Financials)	676,486
	30,926	Almarai Co. JSC (Consumer Staples)	451,011
	57,445	Arab National Bank (Financials)	389,777

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Saudi Arabia – (continued)
	5,200	Arabian Internet & Co.mmunications Services Co. (Information Technology)	$       407,593
	43,296	Bank AlBilad (Financials)	429,405
	60,308	Bank Al-Jazira (Financials)	282,020
	47,256	Banque Saudi Fransi (Financials)	501,437
	32,269	Bupa Arabia for Cooperative Insurance Co. (Financials)	1,445,343
	138,130	Dar Al Arkan Real Estate Development Co. (Real Estate)*	567,133
	11,735	Dr Sulaiman Al Habib Medical Services Group Co. (Health Care)	835,354
	5,076	Elm Co. (Information Technology)	607,366
	200,177	Etihad Etisalat Co. (Communication Services)*	2,294,873
	95,220	Jarir Marketing Co. (Consumer Discretionary)	446,804
	183,460	Mobile Telecommunications Co Saudi Arabia (Communication Services)*	674,011
	20,842	Nahdi Medical Co. (Consumer Staples)	945,747
	158,070	Rabigh Refining & Petrochemical Co. (Energy)*	463,573
	81,886	Riyad Bank (Financials)	714,985
	31,090	SABIC Agri-Nutrients Co. (Materials)	1,036,112
	108,387	Sahara International Petrochemical Co. (Materials)	1,028,734
	67,417	Saudi Arabian Mining Co. (Materials)*	1,116,187
	493,374	Saudi Arabian Oil Co. (Energy)(a)	4,143,458
	95,559	Saudi Basic Industries Corp. (Materials)	2,247,068
	76,397	Saudi British Bank (The) (Financials)	753,623
	258,825	Saudi Electricity Co. (Utilities)	1,490,514
	90,830	Saudi Investment Bank (The) (Financials)	407,316
	310,033	Saudi Kayan Petrochemical Co. (Materials)*	1,054,714
	298,515	Saudi National Bank (The) (Financials)	2,936,761
	217,739	Saudi Telecom Co. (Communication Services)	2,510,721
	112,031	Savola Group (The) (Consumer Staples)	1,072,281
			36,836,461
	South Africa – 3.2%
	158,689	Absa Group Ltd. (Financials)	1,231,874
	53,675	African Rainbow Minerals Ltd. (Materials)	558,656
	4,332	Anglo American Platinum Ltd. (Materials)	248,285

Shares		Description	Value
	Common Stocks – (continued)
	South Africa – (continued)
	119,758	Aspen Pharmacare Holdings Ltd. (Health Care)	$    1,036,689
	90,302	Bid Corp. Ltd. (Consumer Staples)	1,913,972
	45,935	Bidvest Group Ltd. (The) (Industrials)	551,278
	7,577	Capitec Bank Holdings Ltd. (Financials)	516,190
	94,007	Clicks Group Ltd. (Consumer Staples)	1,112,453
	30,554	Discovery Ltd. (Financials)*	204,189
	577,577	FirstRand Ltd. (Financials)	1,756,668
	133,091	Gold Fields Ltd. (Materials)	2,024,951
	199,170	Impala Platinum Holdings Ltd. (Materials)	1,591,852
	55,644	Kumba Iron Ore Ltd. (Materials)	1,217,408
	143,746	Mr Price Group Ltd. (Consumer Discretionary)	899,997
	282,967	MTN Group Ltd. (Communication Services)	1,741,676
	347,786	MultiChoice Group (Communication Services)	1,721,358
	9,570	Naspers Ltd., Class N (Consumer Discretionary)	1,437,626
	124,320	Nedbank Group Ltd. (Financials)	1,305,983
	646,080	Old Mutual Ltd. (Financials)	347,880
	299,722	OUTsurance Group Ltd. (Financials)	478,708
	315,548	Pepkor Holdings Ltd. (Consumer Discretionary)(a)	224,683
	98,299	Remgro Ltd. (Financials)	650,920
	273,466	Sanlam Ltd. (Financials)	716,225
	43,630	Sasol Ltd. (Materials)	508,643
	229,090	Shoprite Holdings Ltd. (Consumer Staples)	2,256,651
	372,418	Sibanye Stillwater Ltd. (Materials)	657,963
	202,364	Standard Bank Group Ltd. (Financials)	1,547,530
	160,142	Vodacom Group Ltd. (Communication Services)	891,938
	224,136	Woolworths Holdings Ltd. (Consumer Discretionary)	672,988
			30,025,234
	South Korea – 11.6%
	15,814	Amorepacific Corp. (Consumer Staples)	1,245,103
	10,344	BGF retail Co. Ltd. (Consumer Staples)	1,483,894
	4,489	Celltrion, Inc. (Health Care)	579,368
	3,555	CJ CheilJedang Corp. (Consumer Staples)	830,326
	13,340	CJ Corp. (Industrials)	890,506
	4,000	CosmoAM&T Co. Ltd. (Information Technology)*	538,557

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	South Korea – (continued)
	34,935	Coway Co. Ltd. (Consumer Discretionary)	$    1,267,373
	9,588	DB Insurance Co. Ltd. (Financials)	534,573
	16,054	Doosan Bobcat, Inc. (Industrials)	647,119
	30,722	Doosan Enerbility Co. Ltd. (Industrials)*	372,206
	7,700	Ecopro BM Co. Ltd. (Industrials)(b)	1,444,566
	6,281	E-MART, Inc. (Consumer Staples)	398,936
	12,785	F&F Co. Ltd. (Consumer Discretionary)	1,246,471
	46,072	GS Holdings Corp. (Industrials)	1,336,426
	47,166	Hana Financial Group, Inc. (Financials)	1,472,994
	39,139	Hankook Tire & Technology Co. Ltd. (Consumer Discretionary)	1,017,363
	6,473	Hanmi Pharm Co. Ltd. (Health Care)	1,426,523
	4,900	Hanwha Aerospace Co. Ltd. (Industrials)	391,705
	7,690	HD Hyundai Co. Ltd. (Energy)	330,834
	73,816	HMM Co. Ltd. (Industrials)	987,180
	27,250	Hotel Shilla Co. Ltd. (Consumer Discretionary)	1,585,007
	1,900	HYBE Co. Ltd. (Communication Services)*	392,240
	7,017	Hyundai Mobis Co. Ltd. (Consumer Discretionary)	1,178,972
	11,967	Hyundai Motor Co. (Consumer Discretionary)	1,803,277
	21,133	Hyundai Steel Co. (Materials)	519,070
	168,082	Industrial Bank of Korea (Financials)	1,292,987
	15,526	Kakao Corp. (Communication Services)	657,420
	39,560	Kangwon Land, Inc. (Consumer Discretionary)	543,363
	46,526	KB Financial Group, Inc. (Financials)	1,682,613
	38,968	Kia Corp. (Consumer Discretionary)	2,522,020
	16,240	Korea Aerospace Industries Ltd. (Industrials)	630,145
	46,544	Korea Electric Power Corp. (Utilities)*(b)	669,097
	6,170	Korea Investment Holdings Co. Ltd. (Financials)	257,539
	1,215	Korea Zinc Co. Ltd. (Materials)	439,863
	25,146	Korean Air Lines Co. Ltd. (Industrials)(b)	418,705
	20,678	KT&G Corp. (Consumer Staples)	1,302,453
	3,769	Kumho Petrochemical Co. Ltd. (Materials)	360,359
	1,808	L&F Co. Ltd. (Information Technology)(b)	367,798
	2,476	LG Chem Ltd. (Materials)	1,292,799
	5,903	LG Corp. (Industrials)	382,489
	32,565	LG Electronics, Inc. (Consumer Discretionary)	3,012,983

Shares		Description	Value
	Common Stocks – (continued)
	South Korea – (continued)
	2,008	LG Energy Solution Ltd. (Industrials)*	$       906,229
	3,386	LG H&H Co. Ltd. (Consumer Staples)	1,344,451
	2,660	LG Innotek Co. Ltd. (Information Technology)	615,272
	223,747	LG Uplus Corp. (Communication Services)(b)	1,894,832
	1,748	Lotte Chemical Corp. (Materials)	219,809
	74,655	Mirae Asset Securities Co. Ltd. (Financials)	410,610
	8,651	NAVER Corp. (Communication Services)	1,300,339
	4,005	NCSoft Corp. (Communication Services)	968,623
	91,620	NH Investment & Securities Co. Ltd. (Financials)	689,609
	20,095	Orion Corp. (Consumer Staples)	1,956,130
	10,987	Pearl Abyss Corp. (Communication Services)*	413,073
	3,704	POSCO Future M Co. Ltd. (Materials)	976,757
	8,623	POSCO Holdings, Inc. (Materials)	2,338,881
	1,176	Samsung Biologics Co. Ltd. (Health Care)*(a)	694,657
	14,528	Samsung C&T Corp. (Industrials)	1,210,621
	13,825	Samsung Electro-Mechanics Co. Ltd. (Information Technology)	1,536,400
	639,889	Samsung Electronics Co. Ltd. (Information Technology)	34,423,111
	25,674	Samsung Engineering Co. Ltd. (Industrials)*	547,428
	10,592	Samsung Fire & Marine Insurance Co. Ltd. (Financials)	1,799,583
	128,064	Samsung Heavy Industries Co. Ltd. (Industrials)*	590,508
	7,137	Samsung Life Insurance Co. Ltd. (Financials)	356,514
	3,702	Samsung SDI Co. Ltd. (Information Technology)	2,002,664
	11,576	Samsung SDS Co. Ltd. (Information Technology)	1,084,119
	46,196	Samsung Securities Co. Ltd. (Financials)	1,279,113
	57,277	Shinhan Financial Group Co. Ltd. (Financials)	1,512,570
	19,311	SK Biopharmaceuticals Co. Ltd. (Health Care)*	1,069,398
	57,092	SK Hynix, Inc. (Information Technology)	4,671,457

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	South Korea – (continued)
	18,209	SK Square Co. Ltd. (Information Technology)*	$       633,148
	2,379	SK, Inc. (Industrials)	300,769
	117,685	Woori Financial Group, Inc. (Financials)	1,062,246
	24,300	Yuhan Corp. (Health Care)	1,085,696
			109,647,839
	Taiwan – 15.4%
	162,441	Accton Technology Corp. (Information Technology)	1,866,135
	594,564	Acer, Inc. (Information Technology)	596,934
	174,575	Advantech Co. Ltd. (Information Technology)	2,312,327
	481,794	ASE Technology Holding Co. Ltd. (Information Technology)	1,748,272
	463,530	Asia Cement Corp. (Materials)	662,994
	88,546	Asustek Computer, Inc. (Information Technology)	878,904
	347,002	AUO Corp. (Information Technology)	198,755
	202,334	Catcher Technology Co. Ltd. (Information Technology)	1,221,478
	1,200,580	Cathay Financial Holding Co. Ltd. (Financials)	1,730,883
	242,707	Chailease Holding Co. Ltd. (Financials)	1,599,485
	366,247	Cheng Shin Rubber Industry Co. Ltd. (Consumer Discretionary)	464,849
	3,716,462	China Development Financial Holding Corp. (Financials)	1,536,053
	749,198	China Steel Corp. (Materials)	707,078
	420,726	Chunghwa Telecom Co. Ltd. (Communication Services)	1,725,213
	1,479,891	Compal Electronics, Inc. (Information Technology)	1,341,305
	2,026,160	CTBC Financial Holding Co. Ltd. (Financials)	1,602,333
	264,424	Delta Electronics, Inc. (Information Technology)	2,723,625
	61,396	E Ink Holdings, Inc. (Information Technology)	413,603
	12,918	eMemory Technology, Inc. (Information Technology)	773,546
	943,155	E.Sun Financial Holding Co. Ltd. (Financials)	794,979

Shares		Description	Value
	Common Stocks – (continued)
	Taiwan – (continued)
	368,493	Evergreen Marine Corp. Taiwan Ltd. (Industrials)	$    1,834,820
	861,560	Far Eastern New Century Corp. (Industrials)	905,651
	260,185	Feng TAY Enterprise Co. Ltd. (Consumer Discretionary)	1,617,292
	1,051,227	First Financial Holding Co. Ltd. (Financials)	961,337
	357,701	Formosa Plastics Corp. (Materials)	1,095,425
	1,046,954	Fubon Financial Holding Co. Ltd. (Financials)	2,071,591
	18,200	Global Unichip Corp. (Information Technology)	885,493
	32,031	Globalwafers Co. Ltd. (Information Technology)	525,380
	1,233,432	Hon Hai Precision Industry Co. Ltd. (Information Technology)	4,275,014
	909,369	Hua Nan Financial Holdings Co. Ltd. (Financials)	658,481
	852,943	Inventec Corp. (Information Technology)	1,022,893
	9,742	Largan Precision Co. Ltd. (Information Technology)	718,107
	566,546	Lite-On Technology Corp. (Information Technology)	1,640,960
	194,875	MediaTek, Inc. (Information Technology)	4,813,608
	795,719	Mega Financial Holding Co. Ltd. (Financials)	927,076
	395,390	Micro-Star International Co. Ltd. (Information Technology)	2,136,026
	450,979	Nan Ya Plastics Corp. (Materials)	1,140,381
	52,525	Nan Ya Printed Circuit Board Corp. (Information Technology)	517,942
	519,593	Nanya Technology Corp. (Information Technology)	1,242,863
	130,292	Nien Made Enterprise Co. Ltd. (Consumer Discretionary)	1,494,685
	208,613	Novatek Microelectronics Corp. (Information Technology)	2,888,775
	544,988	Pegatron Corp. (Information Technology)	1,335,533
	821,132	Pou Chen Corp. (Consumer Discretionary)	845,784
	358,896	President Chain Store Corp. (Consumer Staples)	3,264,549
	268,939	Quanta Computer, Inc. (Information Technology)	1,019,653

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Taiwan – (continued)
	170,015	Realtek Semiconductor Corp. (Information Technology)	$    2,113,603
	1,672,759	SinoPac Financial Holdings Co. Ltd. (Financials)	941,786
	413,222	Synnex Technology International Corp. (Information Technology)	859,324
	2,132,702	Taishin Financial Holding Co. Ltd. (Financials)	1,273,618
	1,027,060	Taiwan Business Bank (Financials)	471,289
	396,804	Taiwan Cement Corp. (Materials)	489,427
	674,236	Taiwan Cooperative Financial Holding Co. Ltd. (Financials)	613,291
	188,305	Taiwan Mobile Co. Ltd. (Communication Services)	634,271
	3,207,826	Taiwan Semiconductor Manufacturing Co. Ltd. (Information Technology)	58,252,930
	99,905	Unimicron Technology Corp. (Information Technology)	586,864
	1,484,668	Uni-President Enterprises Corp. (Consumer Staples)	3,589,971
	2,102,725	United Microelectronics Corp. (Information Technology)*	3,544,745
	194,109	Vanguard International Semiconductor Corp. (Information Technology)	586,860
	9,200	Voltronic Power Technology Corp. (Industrials)	580,848
	311,742	Walsin Lihwa Corp. (Industrials)	468,716
	263,240	Wan Hai Lines Ltd. (Industrials)	496,881
	627,333	Winbond Electronics Corp. (Information Technology)	544,087
	490,100	Wistron Corp. (Information Technology)	1,063,857
	400,891	WPG Holdings Ltd. (Information Technology)	694,082
	466,806	Yang Ming Marine Transport Corp. (Industrials)	923,661
	2,571,916	Yuanta Financial Holding Co. Ltd. (Financials)	1,996,264
	103,250	Zhen Ding Technology Holding Ltd. (Information Technology)	389,781
			145,854,226

Shares		Description	Value
	Common Stocks – (continued)
	Thailand – 1.8%
	293,916	Advanced Info Service PCL NVDR (Communication Services)	$    1,782,077
	449,400	Airports of Thailand PCL NVDR (Industrials)*	913,651
	2,577,300	Asset World Corp. PCL NVDR (Consumer Discretionary)	364,377
	1,706,700	Bangkok Dusit Medical Services PCL NVDR (Health Care)	1,385,468
	350,400	Berli Jucker PCL NVDR (Consumer Staples)	365,000
	189,300	Bumrungrad Hospital PCL NVDR (Health Care)	1,213,043
	332,200	Central Pattana PCL NVDR (Real Estate)	644,353
	747,000	Charoen Pokphand Foods PCL NVDR (Consumer Staples)	431,457
	891,977	CP ALL PCL NVDR (Consumer Staples)	1,634,010
	544,700	Delta Electronics Thailand PCL NVDR (Information Technology)	1,549,578
	135,500	Electricity Generating PCL NVDR (Utilities)	562,637
	297,000	Gulf Energy Development PCL NVDR (Utilities)	416,056
	315,100	Indorama Ventures PCL NVDR (Materials)	287,483
	285,300	Intouch Holdings PCL NVDR (Communication Services)	612,821
	1,225,100	Krung Thai Bank PCL NVDR (Financials)	668,876
	309,400	Krungthai Card PCL NVDR (Financials)	453,431
	206,200	Muangthai Capital PCL NVDR (Financials)	244,418
	194,200	PTT Exploration & Production PCL NVDR (Energy)	778,474
	364,800	PTT Global Chemical PCL NVDR (Materials)	369,517
	753,200	PTT PCL NVDR (Energy)	649,310
	536,300	Ratch Group PCL NVDR (Utilities)	558,646
	58,900	Siam Cement PCL (The) NVDR (Materials)	539,917
	253,000	Thai Oil PCL NVDR (Energy)	314,432
			16,739,032
	Turkey – 0.8%
	305,052	BIM Birlesik Magazalar AS (Consumer Staples)	2,078,016
	486,712	KOC Holding AS (Industrials)	1,852,909
	118,531	Sasa Polyester Sanayi AS (Materials)*	309,229

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description				Value
	Common Stocks – (continued)
	Turkey – (continued)
	50,400	Tofas Turk Otomobil Fabrikasi AS (Consumer Discretionary)				$       522,292
	116,257	Turk Hava Yollari AO (Industrials)*				807,670
	183,866	Turkiye Petrol Rafinerileri AS (Energy)				595,158
	486,910	Turkiye Sise ve Cam Fabrikalari AS (Industrials)				949,414
						7,114,688
	United Arab Emirates – 1.5%
	691,352	Abu Dhabi Commercial Bank PJSC (Financials)				1,503,921
	460,412	Abu Dhabi Islamic Bank PJSC (Financials)				1,253,504
	1,233,966	Abu Dhabi National Oil Co. for Distribution PJSC (Consumer Discretionary)				1,390,857
	884,475	Aldar Properties PJSC (Real Estate)				1,228,103
	850,600	Americana Restaurants International PLC (Consumer Discretionary)				958,749
	1,129,456	Dubai Islamic Bank PJSC (Financials)				1,617,462
	1,003,976	Emaar Properties PJSC (Real Estate)				1,681,038
	517,502	Emirates NBD Bank PJSC (Financials)				1,923,197
	181,606	Emirates Telecommunications Group Co. PJSC (Communication Services)				1,141,156
	440,560	First Abu Dhabi Bank PJSC (Financials)				1,523,309
						14,221,296
	United States – 0.1%
	255,772	JBS SA (Consumer Staples)				838,941
	10,786	Parade Technologies Ltd. (Information Technology)				358,041
						1,196,982
	TOTAL COMMON STOCKS (Cost $882,930,543)					$922,204,416
Shares		Description	Rate			Value
	Preferred Stocks – 2.0%
	Brazil – 1.2%
	576,474	Banco Bradesco SA (Financials)		6.50	%	$    1,745,663
	41,406	Centrais Eletricas Brasileiras SA, Class B (Utilities)		3.79		318,514
	258,146	Cia Energetica de Minas Gerais (Utilities)		9.37		589,685

Shares		Description	Rate			Value
	Preferred Stocks – (continued)
	Brazil – (continued)
	110,184	Gerdau SA (Materials)		14.29	%	$       515,651
	633,783	Itau Unibanco Holding SA (Financials)		4.81		3,258,070
	796,199	Itausa SA (Financials)		5.22		1,364,850
	676,812	Petroleo Brasileiro SA (Energy)		19.32		3,451,518
						11,243,951
	Chile – 0.1%
	12,889	Sociedad Quimica y Minera de Chile SA, Class B (Materials)		17.69		826,304
	Colombia – 0.0%
	80,167	Bancolombia SA (Financials)		12.42		470,701
	Russia – 0.0%
	3,212,489	Surgutneftegas PJSC (Energy)(c)		14.95		—
	South Korea – 0.7%
	9,648	Hyundai Motor Co. (Consumer Discretionary)		6.76		766,897
	9,279	Hyundai Motor Co. (Consumer Discretionary)		6.79		736,867
	112,888	Samsung Electronics Co. Ltd. (Information Technology)		2.44		4,984,168
						6,487,932
	TOTAL PREFERRED STOCKS (Cost $17,144,316)					$  19,028,888
Shares		Description				Value
	Exchange-Traded Fund – 0.6%
	United States – 0.6%
	257,264	iShares MSCI Malaysia ETF
	(Cost $7,732,869)					$    5,279,057
	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE (Cost $907,807,728)					$946,512,361

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Dividend Rate	Value
	Securities Lending Reinvestment Vehicle – 0.5%(d)
	Goldman Sachs Financial Square Government Fund – Institutional Shares
	5,102,111	5.003%	$      5,102,111
	(Cost $5,102,111)
	TOTAL INVESTMENTS – 100.4% (Cost $912,909,839)		$  951,614,472
	LIABILITIES IN EXCESS OF     OTHER ASSETS – (0.4)%		(4,046,217)
	NET ASSETS – 100.0%		$  947,568,255

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(b)	All or a portion of security is on loan.
(c)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(d)	Represents an affiliated issuer.

Investment Abbreviations:
ADR	— American Depositary Receipt
GDR	— Global Depositary Receipt
NVDR	— Non-Voting Depository Receipt
PLC	— Public Limited Company

GOLDMAN SACHS ACTIVEBETA^® EMERGING MARKETS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

Sector Name	% of Market Value
Information Technology		20.9	%
Financials		20.8
Consumer Discretionary		11.1
Consumer Staples		11.0
Communication Services		8.9
Materials		7.1
Industrials		6.0
Health Care		5.2
Energy		4.5
Utilities		2.4
Real Estate		1.0
Exchange-Traded Fund		0.6
Securities Lending Reinvestment Vehicle		0.5
TOTAL INVESTMENTS		100.0	%

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 98.9%
	Australia – 1.0%
	87	Flutter Entertainment PLC (Consumer Discretionary)*	$       16,941
	10,662	Glencore PLC (Materials)	54,371
	702	Rio Tinto PLC (Materials)	41,606
			112,918
	Austria – 0.5%
	395	Erste Group Bank AG (Financials)	12,747
	292	Mondi PLC (Materials)	4,506
	706	OMV AG (Energy)	31,371
	402	voestalpine AG (Materials)	12,420
			61,044
	Belgium – 1.1%
	417	Ageas SA/NV (Financials)(a)	16,596
	714	Anheuser-Busch InBev SA/NV (Consumer Staples)	37,991
	44	D’ieteren Group (Consumer Discretionary)	7,585
	50	Elia Group SA/NV (Utilities)	6,029
	119	Groupe Bruxelles Lambert NV (Financials)	9,145
	87	KBC Group NV (Financials)	5,674
	133	Solvay SA (Materials)	13,847
	263	UCB SA (Health Care)	22,857
			119,724
	Brazil – 0.1%
	247	Yara International ASA (Materials)(a)	9,181
	Burkina Faso – 0.0%
	94	Endeavour Mining PLC (Materials)	2,507
	China – 0.2%
	352	Prosus NV (Consumer Discretionary)*	23,105
	Denmark – 4.8%
	20	AP Moller – Maersk A/S, Class A (Industrials)	33,471
	20	AP Moller – Maersk A/S, Class B (Industrials)	33,542
	162	Carlsberg AS, Class B (Consumer Staples)	24,340
	75	Chr Hansen Holding A/S (Materials)	5,424

Shares		Description	Value
	Common Stocks – (continued)
	Denmark – (continued)
	80	Coloplast A/S, Class B (Health Care)	$       10,044
	1,040	Danske Bank A/S (Financials)*	21,097
	82	Demant A/S (Health Care)*	3,109
	64	DSV A/S (Industrials)	12,300
	58	Genmab A/S (Health Care)*	22,626
	1,954	Novo Nordisk A/S, Class B (Health Care)	312,240
	171	Novozymes A/S, Class B (Materials)	8,218
	36	Orsted AS (Utilities)(b)	3,144
	304	Pandora A/S (Consumer Discretionary)	24,154
	33	ROCKWOOL A/S, Class B (Industrials)	7,847
	679	Tryg A/S (Financials)	15,407
	134	Vestas Wind Systems A/S (Industrials)*	3,805
			540,768
	Finland – 1.5%
	275	Elisa OYJ (Communication Services)	15,362
	147	Kone OYJ, Class B (Industrials)	7,439
	499	Metso Corp. (Industrials)	5,445
	117	Neste OYJ (Energy)	4,412
	5,841	Nokia OYJ (Information Technology)	23,632
	2,601	Nordea Bank Abp (Financials)	25,495
	1,090	Orion OYJ, Class B (Health Care)	46,005
	498	Sampo OYJ, Class A (Financials)	22,840
	533	Stora Enso OYJ, Class R (Materials)	6,731
	271	UPM-Kymmene OYJ (Materials)	8,110
	307	Wartsila OYJ Abp (Industrials)	3,466
			168,937
	France – 17.3%
	74	Aeroports de Paris (Industrials)*	11,211
	388	Air Liquide SA (Materials)	64,794
	317	Airbus SE (Industrials)	41,413
	250	Alstom SA (Industrials)	6,860
	75	Amundi SA (Financials)(a)(b)	4,206
	204	Arkema SA (Materials)	17,725
	2,217	AXA SA (Financials)	62,433
	268	BioMerieux (Health Care)	26,754
	944	BNP Paribas SA (Financials)(a)	54,356
	3,451	Bollore SE (Communication Services)	22,038
	416	Bouygues SA (Industrials)	13,287
	636	Bureau Veritas SA (Industrials)	16,090

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	France – (continued)
	206	Capgemini SE (Information Technology)	$       35,754
	2,523	Carrefour SA (Consumer Staples)	46,224
	1,025	Cie de Saint-Gobain (Industrials)(a)	56,605
	555	Cie Generale des Etablissements Michelin (Consumer Discretionary)	15,715
	63	Covivio SA REIT (Real Estate)	3,072
	2,994	Credit Agricole SA (Financials)(a)	34,128
	746	Danone SA (Consumer Staples)	44,013
	121	Dassault Aviation SA (Industrials)	20,408
	602	Dassault Systemes (Information Technology)	26,384
	360	Edenred (Financials)	23,058
	658	Eiffage SA (Industrials)	69,883
	2,347	Engie SA (Utilities)	35,135
	244	EssilorLuxottica SA (Health Care)(a)	43,816
	312	Eurazeo SE (Financials)	21,255
	50	Gecina SA REIT (Real Estate)	5,104
	596	Getlink SE (Industrials)	10,090
	41	Hermes International (Consumer Discretionary)	83,128
	534	Ipsen SA (Health Care)*	61,541
	66	Kering (Consumer Discretionary)	35,065
	135	Klepierre SA REIT (Real Estate)	3,048
	1,614	La Francaise des Jeux SAEM (Consumer Discretionary)(b)	62,048
	292	Legrand SA (Industrials)*	27,538
	300	L’Oreal SA (Consumer Staples)	127,612
	285	LVMH Moet Hennessy Louis Vuitton SE (Consumer Discretionary)	247,294
	1,326	Orange SA (Communication Services)(a)	15,793
	149	Pernod Ricard SA (Consumer Staples)	32,103
	304	Publicis Groupe SA (Communication Services)	22,466
	77	Remy Cointreau SA (Consumer Staples)	11,800
	270	Renault SA (Consumer Discretionary)	9,005
	248	Safran SA (Industrials)	35,809
	46	Sartorius Stedim Biotech (Health Care)	12,044
	164	SEB SA (Consumer Discretionary)	15,351
	462	Societe Generale SA (Financials)	10,654
	158	Sodexo SA (Consumer Discretionary)	17,021
	166	Thales SA (Industrials)	23,060

Shares		Description	Value
	Common Stocks – (continued)
	France – (continued)
	2,386	TotalEnergies SE (Energy)	$     135,020
	684	Valeo (Consumer Discretionary)	13,097
	589	Veolia Environnement SA (Utilities)	17,293
	488	Vinci SA (Industrials)	55,314
	1,102	Vivendi SE (Communication Services)	9,739
	468	Wendel SE (Financials)	49,045
			1,963,699
	Germany – 13.2%
	288	adidas AG (Consumer Discretionary)	46,516
	299	Allianz SE (Financials)	63,746
	463	BASF SE (Materials)	21,924
	973	Bayer AG (Health Care)	54,086
	476	Bayerische Motoren Werke AG (Consumer Discretionary)	51,721
	94	Bechtle AG (Information Technology)	3,676
	204	Beiersdorf AG (Consumer Staples)	25,913
	261	Brenntag SE (Industrials)	20,418
	82	Carl Zeiss Meditec AG (Health Care)	9,166
	2,595	Commerzbank AG (Financials)*	26,005
	388	Daimler Truck Holding AG (Industrials)*	11,706
	4,267	Deutsche Bank AG (Financials)	43,107
	145	Deutsche Boerse AG (Financials)	24,965
	4,801	Deutsche Lufthansa AG (Industrials)*	46,884
	1,732	Deutsche Post AG (Industrials)	77,645
	2,630	Deutsche Telekom AG (Communication Services)	58,166
	4,841	E.ON SE (Utilities)	58,371
	262	Evonik Industries AG (Materials)*	5,236
	738	Fresenius Medical Care AG & Co. KGaA (Health Care)	31,432
	1,124	Fresenius SE & Co. KGaA (Health Care)	30,664
	311	GEA Group AG (Industrials)	13,027
	97	Hannover Rueck SE (Financials)	20,703
	450	Heidelberg Materials AG (Materials)	32,085
	1,933	HelloFresh SE (Consumer Staples)*	45,811
	142	Henkel AG & Co. KGaA (Consumer Staples)	10,161
	701	Infineon Technologies AG (Information Technology)	25,955
	258	Knorr-Bremse AG (Industrials)	17,598

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Germany – (continued)
	815	Mercedes-Benz Group AG (Consumer Discretionary)	$       60,621
	186	Merck KGaA (Health Care)	32,273
	59	MTU Aero Engines AG (Industrials)	13,574
	114	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Financials)	40,593
	652	Nemetschek SE (Information Technology)	50,909
	497	Puma SE (Consumer Discretionary)	23,589
	49	Rational AG (Industrials)	32,780
	50	Rheinmetall AG (Industrials)	12,601
	547	RWE AG (Utilities)	22,813
	969	SAP SE (Information Technology)	126,218
	83	Scout24 SE (Communication Services)(b)	5,309
	592	Siemens AG (Industrials)	96,778
	1,160	Siemens Energy AG (Industrials)*	29,359
	145	Siemens Healthineers AG (Health Care)(b)	8,178
	89	Symrise AG (Materials)	9,486
	253	Talanx AG (Financials)	14,066
	3,619	Telefonica Deutschland Holding AG (Communication Services)	10,166
	16	Volkswagen AG (Consumer Discretionary)	2,395
	1,218	Zalando SE (Consumer Discretionary)*(b)	35,112
			1,503,507
	Hong Kong – 0.1%
	945	Prudential PLC (Financials)	12,368
	Ireland – 0.9%
	358	AerCap Holdings NV (Industrials)*	20,435
	2,765	AIB Group PLC (Financials)	11,296
	1,199	Bank of Ireland Group PLC (Financials)	11,241
	616	CRH PLC (Materials)	28,961
	106	Kerry Group PLC, Class A (Consumer Staples)	10,304
	177	Kingspan Group PLC (Industrials)	11,715
	294	Smurfit Kappa Group PLC (Materials)	10,415
			104,367
	Italy – 3.7%
	1,437	Assicurazioni Generali SpA (Financials)	27,139
	588	Coca-Cola HBC AG (Consumer Staples)*	17,403

Shares		Description	Value
	Common Stocks – (continued)
	Italy – (continued)
	1,036	Davide Campari-Milano NV (Consumer Staples)	$       13,486
	83	DiaSorin SpA (Health Care)	8,512
	5,309	Enel SpA (Utilities)	33,156
	3,647	Eni SpA (Energy)	48,406
	174	Ferrari NV (Consumer Discretionary)	49,455
	951	FinecoBank Banca Fineco SpA (Financials)	12,582
	641	Infrastrutture Wireless Italiane SpA (Communication Services)(b)	8,132
	7,493	Intesa Sanpaolo SpA (Financials)	17,219
	713	Mediobanca Banca di Credito Finanziario SpA (Financials)	7,826
	733	Moncler SpA (Consumer Discretionary)	49,481
	2,703	Poste Italiane SpA (Financials)(b)	27,941
	562	Prysmian SpA (Industrials)	20,772
	402	Recordati Industria Chimica e Farmaceutica SpA (Health Care)	17,409
	2,750	Snam SpA (Utilities)	14,336
	1,592	Terna - Rete Elettrica Nazionale (Utilities)	13,293
	1,977	UniCredit SpA (Financials)	37,757
			424,305
	Jordan – 0.2%
	758	Hikma Pharmaceuticals PLC (Health Care)	16,831
	Luxembourg – 0.7%
	2,520	ArcelorMittal (Materials)	62,409
	174	Eurofins Scientific SE (Health Care)	11,434
			73,843
	Netherlands – 8.2%
	884	ABN AMRO Bank NV (Financials)(b)	12,822
	8	Adyen NV (Financials)*(b)	13,022
	1,177	Aegon NV (Financials)	5,163
	190	Akzo Nobel NV (Materials)	14,268
	27	Argenx SE (Health Care)*	10,495
	57	ASM International NV (Information Technology)	24,635
	400	ASML Holding NV (Information Technology)	286,355
	94	Euronext NV (Financials)(b)	6,228
	432	EXOR NV (Financials)*	35,767

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Netherlands – (continued)
	315	Heineken Holding NV (Consumer Staples)	$       26,715
	213	Heineken NV (Consumer Staples)	21,454
	61	IMCD NV (Industrials)	9,140
	2,085	ING Groep NV (Financials)	25,580
	514	JDE Peet’s NV (Consumer Staples)	14,894
	2,761	Koninklijke Ahold Delhaize NV (Consumer Staples)	87,304
	5,525	Koninklijke KPN NV (Communication Services)	18,955
	612	Koninklijke Philips NV (Health Care)*	11,513
	431	NN Group NV (Financials)	15,494
	657	OCI NV (Materials)	14,562
	682	Randstad NV (Industrials)	33,344
	6,176	Shell PLC (Energy)	169,969
	472	Universal Music Group NV (Communication Services)	9,309
	508	Wolters Kluwer NV (Industrials)	57,841
			924,829
	Norway – 1.1%
	314	Aker BP ASA (Energy)	6,797
	825	DNB Bank ASA (Financials)	13,756
	1,736	Equinor ASA (Energy)	44,207
	919	Gjensidige Forsikring ASA (Financials)	15,381
	238	Kongsberg Gruppen ASA (Industrials)	9,496
	330	Mowi ASA (Consumer Staples)	5,642
	1,208	Norsk Hydro ASA (Materials)	7,272
	2,112	Orkla ASA (Consumer Staples)	15,136
	702	Telenor ASA (Communication Services)	7,182
			124,869
	Portugal – 0.6%
	1,510	EDP – Energias de Portugal SA (Utilities)	7,344
	344	Galp Energia SGPS SA (Energy)	3,629
	2,586	Jeronimo Martins SGPS SA (Consumer Staples)	62,252
			73,225

Shares		Description	Value
	Common Stocks – (continued)
	Singapore – 0.3%
	764	STMicroelectronics NV (Information Technology)	$       33,065
	South Africa – 0.1%
	460	Anglo American PLC (Materials)	12,677
	Spain – 4.3%
	61	Acciona SA (Utilities)	9,839
	1,513	ACS Actividades de Construccion y Servicios SA (Industrials)	50,197
	17	Aena SME SA (Industrials)(b)	2,650
	306	Amadeus IT Group SA (Consumer Discretionary)*	21,825
	6,498	Banco Bilbao Vizcaya Argentaria SA (Financials)	42,396
	18,310	Banco Santander SA (Financials)	59,439
	3,648	CaixaBank SA (Financials)	13,328
	90	Cellnex Telecom SA (Communication Services)*(b)	3,637
	101	Corp ACCIONA Energias Renovables SA (Utilities)*	3,351
	438	Enagas SA (Utilities)	8,338
	368	Endesa SA (Utilities)	7,937
	516	Ferrovial SA (Industrials)	15,926
	465	Grifols SA (Health Care)*	5,376
	5,373	Iberdrola SA (Utilities)	65,301
	2,101	Industria de Diseno Textil SA (Consumer Discretionary)	70,086
	579	Naturgy Energy Group SA (Utilities)	16,432
	1,074	Red Electrica Corp. SA (Utilities)	18,142
	3,735	Repsol SA (Energy)	50,530
	5,886	Telefonica SA (Communication Services)	24,912
			489,642
	Sweden – 3.6%
	303	Alfa Laval AB (Industrials)	10,852
	567	Assa Abloy AB, Class B (Industrials)	12,545
	1,715	Atlas Copco AB, Class A (Industrials)	24,905
	1,167	Atlas Copco AB, Class B (Industrials)	14,647
	238	Epiroc AB, Class A (Industrials)	4,155
	178	Epiroc AB, Class B (Industrials)	2,681

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Sweden – (continued)
	717	Essity AB, Class B (Consumer Staples)	$       19,000
	79	Evolution AB (Consumer Discretionary)(b)	10,348
	241	Getinge AB, Class B (Health Care)	5,525
	3,646	H & M Hennes & Mauritz AB, Class B (Consumer Discretionary)(a)	45,372
	1,623	Hexagon AB, Class B (Information Technology)	18,760
	178	Holmen AB, Class B (Materials)	6,712
	749	Husqvarna AB, Class B (Industrials)	5,512
	297	Industrivarden AB, Class A (Financials)	7,968
	304	Industrivarden AB, Class C (Financials)	8,103
	501	Investor AB, Class A (Financials)	10,270
	1,206	Investor AB, Class B (Financials)	24,450
	137	L E Lundbergforetagen AB, Class B (Financials)	5,682
	346	Lifco AB, Class B (Industrials)	7,283
	743	Nibe Industrier AB, Class B (Industrials)	7,069
	134	Saab AB, Class B (Industrials)	7,274
	225	Sandvik AB (Industrials)	3,941
	1,491	Skandinaviska Enskilda Banken AB, Class A (Financials)	15,542
	417	Svenska Cellulosa AB SCA, Class B (Materials)	5,514
	1,498	Svenska Handelsbanken AB, Class A (Financials)	11,801
	991	Swedbank AB, Class A (Financials)	15,120
	510	Swedish Orphan Biovitrum AB (Health Care)*	10,215
	1,156	Tele2 AB, Class B (Communication Services)	10,473
	4,479	Telefonaktiebolaget LM Ericsson, Class B (Information Technology)	23,095
	3,116	Telia Co. AB (Communication Services)	7,235
	500	Volvo AB, Class A (Industrials)	9,611
	1,028	Volvo AB, Class B (Industrials)	18,914
	3,973	Volvo Car AB, Class B (Consumer Discretionary)*	13,609
			404,183
	Switzerland – 8.5%
	1,103	ABB Ltd. (Industrials)	40,131

Shares		Description	Value
	Common Stocks – (continued)
	Switzerland – (continued)
	155	Adecco Group AG (Industrials)	$         4,605
	170	Alcon, Inc. (Health Care)	13,140
	22	Bachem Holding AG (Health Care)	2,301
	86	Baloise Holding AG (Financials)	13,161
	164	Banque Cantonale Vaudoise (Financials)	16,442
	7	Barry Callebaut AG (Consumer Staples)	14,097
	96	BKW AG (Utilities)	17,149
	2	Chocoladefabriken Lindt & Spruengli AG (Consumer Staples)	23,825
	408	Cie Financiere Richemont SA, Class A (Consumer Discretionary)	64,515
	314	Clariant AG (Materials)*	4,510
	74	DSM-Firmenich AG (Materials)*	8,208
	18	EMS-Chemie Holding AG (Materials)	13,882
	64	Geberit AG (Industrials)	33,773
	4	Givaudan SA (Materials)	13,110
	65	Helvetia Holding AG (Financials)	9,194
	183	Julius Baer Group Ltd. (Financials)	11,138
	196	Kuehne + Nagel International AG (Industrials)	55,553
	527	Logitech International SA (Information Technology)	33,644
	24	Lonza Group AG (Health Care)	14,949
	2,172	Novartis AG (Health Care)	207,090
	44	Partners Group Holding AG (Financials)	39,507
	35	Schindler Holding AG (Industrials)	6,991
	47	Schindler Holding AG Participation Certificates (Industrials)	9,697
	522	SGS SA (Industrials)	46,161
	159	SIG Group AG (Materials)*	4,321
	28	Sika AG (Materials)	7,608
	39	Sonova Holding AG (Health Care)	9,958
	201	Straumann Holding AG (Health Care)	29,266
	70	Swatch Group AG (The) – Bearer (Consumer Discretionary)	20,721
	362	Swatch Group AG (The) – Registered (Consumer Discretionary)	20,235
	38	Swiss Life Holding AG (Financials)	21,865
	116	Swiss Prime Site AG (Real Estate)	9,752
	26	Swisscom AG (Communication Services)	16,405
	2,218	UBS Group AG (Financials)	41,829

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Switzerland – (continued)
	36	VAT Group AG (Industrials)(b)	$       14,780
	116	Zurich Insurance Group AG (Financials)	54,057
			967,570
	United Kingdom – 17.6%
	1,611	3i Group PLC (Financials)	39,045
	1,873	abrdn PLC (Financials)	4,608
	975	Admiral Group PLC (Financials)	28,096
	270	Ashtead Group PLC (Industrials)	16,397
	903	Associated British Foods PLC (Consumer Staples)	20,431
	1,509	AstraZeneca PLC (Health Care)	218,072
	7,085	Auto Trader Group PLC (Communication Services)(b)	55,321
	1,639	Aviva PLC (Financials)	8,008
	3,258	BAE Systems PLC (Industrials)	37,480
	17,779	Barclays PLC (Financials)	33,348
	3,061	Barratt Developments PLC (Consumer Discretionary)	17,558
	286	Berkeley Group Holdings PLC (Consumer Discretionary)	13,916
	16,463	BP PLC (Energy)	92,492
	2,038	British American Tobacco PLC (Consumer Staples)	64,524
	925	British Land Co. PLC (The) REIT (Real Estate)	3,932
	2,695	BT Group PLC (Communication Services)	4,905
	563	Bunzl PLC (Industrials)	21,938
	2,231	Burberry Group PLC (Consumer Discretionary)	59,560
	11,083	Centrica PLC (Utilities)	16,161
	1,807	CNH Industrial NV (Industrials)	23,021
	360	Coca-Cola Europacific Partners PLC (Consumer Staples)	22,460
	1,664	Compass Group PLC (Consumer Discretionary)	45,413
	118	Croda International PLC (Materials)	8,921
	222	DCC PLC (Industrials)	12,649
	2,021	Diageo PLC (Consumer Staples)	83,837
	368	Entain PLC (Consumer Discretionary)	6,016
	268	Halma PLC (Information Technology)	8,002

Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	3,321	Hargreaves Lansdown PLC (Financials)	$       33,019
	13,759	HSBC Holdings PLC (Financials)	100,697
	1,561	Imperial Brands PLC (Consumer Staples)	32,793
	1,659	Informa PLC (Communication Services)	14,331
	182	InterContinental Hotels Group PLC (Consumer Discretionary)	11,883
	125	Intertek Group PLC (Industrials)	6,436
	17,051	J Sainsbury PLC (Consumer Staples)	57,186
	28,087	JD Sports Fashion PLC (Consumer Discretionary)	52,913
	7,227	Kingfisher PLC (Consumer Discretionary)	20,691
	631	Land Securities Group PLC REIT (Real Estate)	4,708
	4,495	Legal & General Group PLC (Financials)	12,708
	58,578	Lloyds Banking Group PLC (Financials)	32,068
	252	London Stock Exchange Group PLC (Financials)	26,704
	1,609	M&G PLC (Financials)	3,952
	2,715	National Grid PLC (Utilities)	37,217
	4,313	NatWest Group PLC (Financials)	13,877
	414	Next PLC (Consumer Discretionary)	32,562
	613	Pearson PLC (Consumer Discretionary)	6,064
	178	Persimmon PLC (Consumer Discretionary)	2,651
	1,337	Phoenix Group Holdings PLC (Financials)	9,154
	502	Reckitt Benckiser Group PLC (Consumer Staples)	38,861
	1,821	RELX PLC (Industrials)	56,649
	1,822	Rentokil Initial PLC (Industrials)	14,421
	6,051	Rolls-Royce Holdings PLC (Industrials)*	10,747
	4,379	Sage Group PLC (The) (Information Technology)	47,272
	1,010	Schroders PLC (Financials)	5,703
	391	Segro PLC REIT (Real Estate)	3,865
	321	Severn Trent PLC (Utilities)	11,032
	1,137	Smith & Nephew PLC (Health Care)	16,939
	706	Smiths Group PLC (Industrials)	14,053
	53	Spirax-Sarco Engineering PLC (Industrials)	7,176
	908	SSE PLC (Utilities)	21,174
	1,590	St James’s Place PLC (Financials)	21,973
	2,014	Standard Chartered PLC (Financials)	15,816

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description				Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	5,796	Taylor Wimpey PLC (Consumer Discretionary)				$         8,204
	16,124	Tesco PLC (Consumer Staples)				52,119
	2,005	Unilever PLC (Consumer Staples)				100,121
	1,136	United Utilities Group PLC (Utilities)				14,256
	39,390	Vodafone Group PLC (Communication Services)				37,284
	150	Whitbread PLC (Consumer Discretionary)				6,109
	911	Wise PLC, Class A (Financials)*				6,553
	658	WPP PLC (Communication Services)				6,963
						1,995,015
	United States – 9.3%
	924	Experian PLC (Industrials)				32,432
	4,606	GSK PLC (Health Care)				76,862
	4,442	Haleon PLC (Consumer Staples)				17,518
	663	Holcim AG (Materials)*				40,716
	2,637	Nestle SA (Consumer Staples)				311,253
	404	QIAGEN NV (Health Care)*				18,180
	805	Roche Holding AG (Health Care)				253,789
	90	Roche Holding AG (Health Care)(a)				30,225
	1,195	Sanofi (Health Care)(a)				120,876
	513	Schneider Electric SE (Industrials)				88,238
	2,667	Stellantis NV (Consumer Discretionary)				40,324
	232	Swiss Re AG (Financials)				23,151
	536	Tenaris SA (Energy)				6,669
						1,060,233
	TOTAL COMMON STOCKS (Cost $10,881,322)					$11,222,412
Shares		Description	Rate			Value
	Preferred Stocks – 0.5%
	Germany – 0.5%
	304	Bayerische Motoren Werke AG (Consumer Discretionary)		8.75	%	$       31,162
	244	Henkel AG & Co. KGaA (Consumer Staples)		2.48		19,390
	11	Sartorius AG (Health Care)		0.45		3,676

Shares		Description	Rate			Value
	Preferred Stocks – (continued)
	Germany – (continued)
	57	Volkswagen AG (Consumer Discretionary)		23.46	%	$         7,084
	TOTAL PREFERRED STOCKS (Cost $64,978)					$       61,312
	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE (Cost $10,946,300)					$11,283,724
Shares		Dividend Rate				Value
	Securities Lending Reinvestment Vehicle – 2.5%(c)
	Goldman Sachs Financial Square Government Fund – Institutional Shares
	278,459	5.003%				$     278,459
	(Cost $278,459)
	TOTAL INVESTMENTS – 101.9% (Cost $11,224,759)					$11,562,183
	LIABILITIES IN EXCESS OF     OTHER ASSETS – (1.9)%					(211,147)
	NET ASSETS – 100.0%					$11,351,036

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	All or a portion of security is on loan.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Represents an affiliated issuer.

Investment Abbreviations:
CVA	— Dutch Certification
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® EUROPE EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At May 31, 2023, the Portfolio had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount		Unrealized Appreciation/ (Depreciation)
Long position contracts:
MSCI Europe Index	2	06/16/23	$	61,844	$	(1,295	)

Sector Name	% of Market Value
Health Care		15.9	%
Industrials		15.4
Financials		15.3
Consumer Staples		13.5
Consumer Discretionary		13.1
Information Technology		6.7
Energy		5.1
Materials		5.0
Utilities		4.0
Communication Services		3.3
Real Estate		0.3
Securities Lending Reinvestment Vehicle		2.4
TOTAL INVESTMENTS		100.0	%

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 99.1%
	Australia – 6.3%
	45,089	Ampol Ltd. (Energy)	$          916,523
	420,189	ANZ Group Holdings Ltd. (Financials)	6,232,529
	208,793	APA Group (Utilities)	1,356,609
	85,348	Aristocrat Leisure Ltd. (Consumer Discretionary)	2,051,905
	32,220	ASX Ltd. (Financials)	1,405,995
	519,149	Aurizon Holdings Ltd. (Industrials)	1,196,044
	800,543	BHP Group Ltd. (Materials)	21,769,365
	693,674	BlueScope Steel Ltd. (Materials)	8,313,836
	323,607	Brambles Ltd. (Industrials)	2,877,463
	32,073	Cochlear Ltd. (Health Care)	5,052,229
	638,921	Coles Group Ltd. (Consumer Staples)	7,434,331
	233,005	Commonwealth Bank of Australia (Financials)	14,593,380
	97,838	Computershare Ltd. (Industrials)	1,415,743
	222,449	Dexus REIT (Real Estate)	1,181,894
	255,356	Endeavour Group Ltd. (Consumer Staples)	1,019,615
	14,494	Flutter Entertainment PLC (Consumer Discretionary)*	2,822,318
	238,137	Fortescue Metals Group Ltd. (Materials)	2,962,002
	1,894,337	Glencore PLC (Materials)	9,660,199
	58,177	Goodman Group REIT (Real Estate)	739,055
	393,185	GPT Group (The) REIT (Real Estate)	1,066,144
	83,619	IDP Education Ltd. (Consumer Discretionary)	1,180,768
	110,688	IGO Ltd. (Materials)	1,021,469
	214,536	Insurance Australia Group Ltd. (Financials)	720,564
	1,674,723	Lottery Corp. Ltd. (The) (Consumer Discretionary)	5,397,310
	51,228	Macquarie Group Ltd. (Financials)	5,660,408
	855,323	Medibank Pvt Ltd. (Financials)	1,976,075
	20,468	Mineral Resources Ltd. (Materials)	937,675
	425,113	National Australia Bank Ltd. (Financials)	7,144,657
	45,626	Newcrest Mining Ltd. (Materials)	758,545
	199,856	Northern Star Resources Ltd. (Materials)	1,669,739
	65,919	Orica Ltd. (Materials)	652,264
	1,641,840	Pilbara Minerals Ltd. (Materials)	4,685,700
	200,223	QBE Insurance Group Ltd. (Financials)	1,894,377
	17,994	Ramsay Health Care Ltd. (Health Care)	668,063
	27,408	REA Group Ltd. (Communication Services)	2,439,382
	29,790	Rio Tinto Ltd. (Materials)	2,062,810
	77,055	Rio Tinto PLC (Materials)	4,566,907
	467,469	Santos Ltd. (Energy)	2,205,390

Shares		Description	Value
	Common Stocks – (continued)
	Australia – (continued)
	93,795	Sonic Healthcare Ltd. (Health Care)	$       2,136,014
	1,431,278	South32 Ltd. (Materials)	3,593,857
	294,806	Stockland REIT (Real Estate)	812,739
	371,037	Suncorp Group Ltd. (Financials)	3,193,551
	1,005,573	Telstra Group Ltd. (Communication Services)	2,837,299
	367,689	Transurban Group (Industrials)	3,531,178
	267,779	Treasury Wine Estates Ltd. (Consumer Staples)	2,013,667
	696,244	Vicinity Ltd. REIT (Real Estate)	835,816
	80,085	Washington H Soul Pattinson & Co. Ltd. (Financials)	1,664,684
	261,002	Wesfarmers Ltd. (Consumer Discretionary)	8,051,819
	450,579	Westpac Banking Corp. (Financials)	6,030,128
	27,391	WiseTech Global Ltd. (Information Technology)	1,326,443
	242,322	Woodside Energy Group Ltd. (Energy)	5,378,882
	409,025	Woolworths Group Ltd. (Consumer Staples)	9,936,860
			191,052,219
	Austria – 0.2%
	38,183	Erste Group Bank AG (Financials)	1,232,198
	49,892	Mondi PLC (Materials)	769,861
	110,249	OMV AG (Energy)	4,898,921
	26,421	voestalpine AG (Materials)	816,292
			7,717,272
	Belgium – 0.7%
	83,194	Ageas SA/NV (Financials)(a)	3,310,915
	98,319	Anheuser-Busch InBev SA/NV (Consumer Staples)	5,231,463
	8,356	D’ieteren Group (Consumer Discretionary)	1,440,478
	8,151	Elia Group SA/NV (Utilities)	982,815
	21,962	Groupe Bruxelles Lambert NV (Financials)	1,687,659
	16,696	KBC Group NV (Financials)	1,088,980
	32,779	Solvay SA (Materials)	3,412,797
	44,466	UCB SA (Health Care)	3,864,473
			21,019,580
	Brazil – 0.1%
	27,504	Wheaton Precious Metals Corp. (Materials)	1,244,792

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Brazil – (continued)
	25,733	Yara International ASA (Materials)(a)	$          956,534
			2,201,326
	Canada – 11.1%
	20,366	Agnico Eagle Mines Ltd. (Materials)	1,035,006
	179,946	Alimentation Couche-Tard, Inc. (Consumer Staples)	8,701,428
	61,175	AltaGas Ltd. (Utilities)	1,036,010
	555,742	ARC Resources Ltd. (Energy)	6,688,692
	89,582	Bank of Montreal (Financials)	7,461,542
	154,922	Bank of Nova Scotia (The) (Financials)	7,473,137
	30,160	BCE, Inc. (Communication Services)	1,358,786
	72,987	Brookfield Asset Management Ltd., Class A (Financials)	2,228,324
	47,080	Brookfield Corp. (Financials)	1,412,088
	36,427	Cameco Corp. (Energy)	1,012,710
	30,635	Canadian Apartment Properties REIT (Real Estate)	1,105,456
	129,073	Canadian Imperial Bank of Commerce (Financials)	5,314,659
	48,615	Canadian National Railway Co. (Industrials)	5,474,150
	146,807	Canadian Natural Resources Ltd. (Energy)	7,898,180
	74,181	Canadian Pacific Kansas City Ltd. (Industrials)	5,645,025
	8,087	Canadian Tire Corp. Ltd., Class A (Consumer Discretionary)	970,107
	53,226	Canadian Utilities Ltd., Class A (Utilities)	1,427,270
	30,849	CCL Industries, Inc., Class B (Materials)	1,435,444
	612,579	Cenovus Energy, Inc. (Energy)	9,774,765
	60,154	CGI, Inc. (Information Technology)*	6,222,065
	8,569	Constellation Software, Inc. (Information Technology)	17,449,480
	20,337	Descartes Systems Group, Inc. (The) (Information Technology)*	1,570,346
	146,715	Dollarama, Inc. (Consumer Discretionary)	8,913,209
	146,920	Element Fleet Management Corp. (Financials)	2,225,471
	39,224	Emera, Inc. (Utilities)	1,615,072
	470,445	Empire Co. Ltd., Class A (Consumer Staples)	11,981,760
	171,671	Enbridge, Inc. (Energy)	6,035,575
	9,039	Fairfax Financial Holdings Ltd. (Financials)	6,479,380
	22,986	FirstService Corp. (Real Estate)	3,334,686

Shares		Description	Value
	Common Stocks – (continued)
	Canada – (continued)
	44,983	Fortis, Inc. (Utilities)	$       1,889,597
	8,368	Franco-Nevada Corp. (Materials)	1,214,477
	92,452	George Weston Ltd. (Consumer Staples)	10,860,542
	25,543	GFL Environmental, Inc. (Industrials)	920,773
	128,354	Great-West Lifeco, Inc. (Financials)(a)	3,628,812
	96,415	Hydro One Ltd. (Utilities)(b)	2,744,277
	124,900	iA Financial Corp., Inc. (Financials)	7,949,936
	57,392	IGM Financial, Inc. (Financials)	1,683,803
	166,598	Imperial Oil Ltd. (Energy)(a)	7,552,247
	29,752	Intact Financial Corp. (Financials)	4,378,861
	46,844	Keyera Corp. (Energy)	1,044,194
	159,670	Loblaw Cos. Ltd. (Consumer Staples)	13,941,906
	463,970	Manulife Financial Corp. (Financials)	8,584,452
	66,332	Metro, Inc. (Consumer Staples)	3,484,711
	73,158	National Bank of Canada (Financials)	5,237,796
	65,333	Northland Power, Inc. (Utilities)	1,431,337
	90,025	Nutrien Ltd. (Materials)	4,736,694
	36,361	Open Text Corp. (Information Technology)	1,509,759
	128,869	Parkland Corp. (Energy)	3,210,111
	83,977	Pembina Pipeline Corp. (Energy)	2,539,141
	231,254	Power Corp. of Canada (Financials)	5,978,272
	63,302	Quebecor, Inc., Class B (Communication Services)	1,507,457
	23,161	RB Global, Inc. (Industrials)	1,208,230
	47,102	Restaurant Brands International, Inc. (Consumer Discretionary)	3,415,267
	43,437	RioCan Real Estate Investment Trust REIT (Real Estate)	639,747
	37,019	Rogers Communications, Inc., Class B (Communication Services)	1,629,947
	219,038	Royal Bank of Canada (Financials)	19,567,266
	124,821	Saputo, Inc. (Consumer Staples)	3,224,979
	51,298	Shopify, Inc., Class A (Information Technology)*	2,931,153
	98,346	Sun Life Financial, Inc. (Financials)(a)	4,757,044
	283,283	Suncor Energy, Inc. (Energy)	7,925,589
	45,792	TC Energy Corp. (Energy)	1,780,070
	118,126	Teck Resources Ltd., Class B (Materials)	4,604,941
	78,402	TELUS Corp. (Communication Services)	1,483,484
	14,732	TFI International, Inc. (Industrials)	1,549,824
	30,270	Thomson Reuters Corp. (Industrials)	3,844,043
	17,581	TMX Group Ltd. (Financials)	1,911,108
	29,822	Toromont Industries Ltd. (Industrials)	2,303,619

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Canada – (continued)
	254,264	Toronto-Dominion Bank (The) (Financials)	$     14,373,314
	40,362	Tourmaline Oil Corp. (Energy)	1,685,090
	150,468	West Fraser Timber Co. Ltd. (Materials)	10,140,788
	85,998	WSP Global, Inc. (Industrials)	10,643,304
			338,927,785
	China – 0.5%
	1,481,860	BOC Hong Kong Holdings Ltd. (Financials)	4,401,143
	54,894	Prosus NV (Consumer Discretionary)*	3,603,231
	4,021,884	SITC International Holdings Co. Ltd. (Industrials)	6,987,209
	239,682	Wilmar International Ltd. (Consumer Staples)	691,705
			15,683,288
	Denmark – 2.9%
	3,407	AP Moller – Maersk A/S, Class A (Industrials)	5,701,745
	3,427	AP Moller – Maersk A/S, Class B (Industrials)	5,747,481
	25,725	Carlsberg AS, Class B (Consumer Staples)	3,865,084
	14,463	Chr Hansen Holding A/S (Materials)	1,046,027
	23,462	Coloplast A/S, Class B (Health Care)	2,945,681
	178,769	Danske Bank A/S (Financials)*	3,626,463
	54,931	Demant A/S (Health Care)*	2,082,364
	9,821	DSV A/S (Industrials)	1,887,518
	8,313	Genmab A/S (Health Care)*	3,242,989
	305,083	Novo Nordisk A/S, Class B (Health Care)	48,750,737
	29,879	Novozymes A/S, Class B (Materials)	1,435,947
	53,845	Pandora A/S (Consumer Discretionary)	4,278,185
	4,699	ROCKWOOL A/S, Class B (Industrials)	1,117,368
	113,970	Tryg A/S (Financials)	2,586,074
			88,313,663
	Finland – 0.9%
	31,688	Elisa OYJ (Communication Services)	1,770,208
	24,011	Kone OYJ, Class B (Industrials)	1,215,143
	98,579	Metso Corp. (Industrials)	1,075,648
	780,413	Nokia OYJ (Information Technology)	3,157,435
	403,722	Nordea Bank Abp (Financials)	3,957,244
	173,193	Orion OYJ, Class B (Health Care)	7,309,942
	103,904	Sampo OYJ, Class A (Financials)	4,765,415
	126,301	Stora Enso OYJ, Class R (Materials)	1,594,924

Shares			Description	Value
	Common Stocks – (continued)
	Finland – (continued)
	43,278		UPM-Kymmene OYJ (Materials)	$       1,295,113
	54,726		Wartsila OYJ Abp (Industrials)	617,857
				26,758,929
	France – 10.5%
	13,191		Aeroports de Paris (Industrials)*	1,998,342
	48,138		Air Liquide SA (Materials)	8,038,755
	44,677		Airbus SE (Industrials)	5,836,600
	89,362		Alstom SA (Industrials)	2,452,220
	30,219		Arkema SA (Materials)	2,625,644
	339,796		AXA SA (Financials)	9,569,009
	42,525		BioMerieux (Health Care)	4,245,255
	147,914		BNP Paribas SA (Financials)(a)	8,516,900
	1,001,791		Bollore SE (Communication Services)	6,397,378
	65,087		Bouygues SA (Industrials)	2,078,903
	74,511		Bureau Veritas SA (Industrials)	1,885,021
	42,328		Capgemini SE (Information Technology)	7,346,496
	465,348		Carrefour SA (Consumer Staples)	8,525,610
	168,701		Cie de Saint-Gobain (Industrials)	9,316,344
	69,631	��	Cie Generale des Etablissements Michelin (Consumer Discretionary)	1,971,645
	357,265		Credit Agricole SA (Financials)(a)	4,072,373
	97,033		Danone SA (Consumer Staples)	5,724,752
	16,192		Dassault Aviation SA (Industrials)	2,730,895
	106,668		Dassault Systemes (Information Technology)	4,674,980
	61,670		Edenred (Financials)	3,950,044
	106,100		Eiffage SA (Industrials)	11,268,342
	364,906		Engie SA (Utilities)	5,462,709
	40,041		EssilorLuxottica SA (Health Care)(a)	7,190,320
	35,158		Eurazeo SE (Financials)	2,395,097
	8,162		Gecina SA REIT (Real Estate)	833,170
	104,903		Getlink SE (Industrials)	1,775,974
	7,345		Hermes International (Consumer Discretionary)	14,892,058
	115,393		Ipsen SA (Health Care)*	13,298,518
	10,420		Kering (Consumer Discretionary)	5,536,053
	40,087		Klepierre SA REIT (Real Estate)	905,165
	225,330		La Francaise des Jeux SAEM (Consumer Discretionary)(b)	8,662,492
	36,122		Legrand SA (Industrials)*	3,406,566
	49,141		L’Oreal SA (Consumer Staples)	20,903,306

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	France – (continued)
	46,628	LVMH Moet Hennessy Louis Vuitton SE (Consumer Discretionary)	$     40,459,073
	238,436	Orange SA (Communication Services)	2,839,886
	20,138	Pernod Ricard SA (Consumer Staples)	4,338,911
	53,131	Publicis Groupe SA (Communication Services)	3,926,491
	17,219	Remy Cointreau SA (Consumer Staples)	2,638,845
	63,495	Renault SA (Consumer Discretionary)	2,117,745
	37,765	Safran SA (Industrials)	5,452,988
	12,139	Sartorius Stedim Biotech (Health Care)	3,178,406
	29,424	SEB SA (Consumer Discretionary)(a)	2,754,193
	120,172	Societe Generale SA (Financials)(a)	2,771,136
	24,941	Sodexo SA (Consumer Discretionary)	2,686,880
	23,335	Thales SA (Industrials)	3,241,532
	366,669	TotalEnergies SE (Energy)	20,749,288
	47,720	Valeo (Consumer Discretionary)	913,703
	89,441	Veolia Environnement SA (Utilities)	2,626,024
	82,381	Vinci SA (Industrials)	9,337,704
	177,437	Vivendi SE (Communication Services)	1,568,183
	83,815	Wendel SE (Financials)	8,783,616
			318,871,540
	Germany – 7.3%
	44,058	adidas AG (Consumer Discretionary)	7,115,993
	44,567	Allianz SE (Financials)	9,501,629
	50,818	BASF SE (Materials)	2,406,275
	151,375	Bayer AG (Health Care)	8,414,402
	65,774	Bayerische Motoren Werke AG (Consumer Discretionary)	7,146,802
	21,753	Bechtle AG (Information Technology)	850,642
	38,848	Beiersdorf AG (Consumer Staples)	4,934,700
	39,376	Brenntag SE (Industrials)	3,080,402
	10,348	Carl Zeiss Meditec AG (Health Care)	1,156,706
	421,624	Commerzbank AG (Financials)*	4,225,239
	30,394	Daimler Truck Holding AG (Industrials)*	917,006
	524,909	Deutsche Bank AG (Financials)	5,302,823
	29,158	Deutsche Boerse AG (Financials)	5,020,285
	475,588	Deutsche Lufthansa AG (Industrials)*	4,644,345
	298,905	Deutsche Post AG (Industrials)	13,399,768
	403,656	Deutsche Telekom AG (Communication Services)	8,927,358
	743,950	E.ON SE (Utilities)	8,970,248
	47,910	Evonik Industries AG (Materials)*	957,436

Shares		Description	Value
	Common Stocks – (continued)
	Germany – (continued)
	67,114	Fresenius Medical Care AG & Co. KGaA (Health Care)	$       2,858,433
	180,181	Fresenius SE & Co. KGaA (Health Care)	4,915,609
	45,415	GEA Group AG (Industrials)	1,902,302
	15,739	Hannover Rueck SE (Financials)	3,359,227
	93,259	Heidelberg Materials AG (Materials)	6,649,441
	255,047	HelloFresh SE (Consumer Staples)*	6,044,464
	26,951	Henkel AG & Co. KGaA (Consumer Staples)	1,928,523
	64,192	Infineon Technologies AG (Information Technology)	2,376,751
	37,171	Knorr-Bremse AG (Industrials)	2,535,400
	130,726	Mercedes-Benz Group AG (Consumer Discretionary)	9,723,638
	31,732	Merck KGaA (Health Care)	5,505,751
	8,586	MTU Aero Engines AG (Industrials)	1,975,333
	17,196	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Financials)	6,123,109
	91,414	Nemetschek SE (Information Technology)	7,137,714
	85,442	Puma SE (Consumer Discretionary)	4,055,315
	6,694	Rational AG (Industrials)	4,478,139
	10,872	Rheinmetall AG (Industrials)	2,740,028
	52,933	RWE AG (Utilities)	2,207,616
	137,297	SAP SE (Information Technology)	17,883,777
	11,468	Scout24 SE (Communication Services)(b)	733,562
	75,535	Siemens AG (Industrials)	12,348,147
	279,024	Siemens Energy AG (Industrials)*	7,061,880
	24,753	Siemens Healthineers AG (Health Care)(b)	1,395,988
	14,699	Symrise AG (Materials)	1,566,747
	39,152	Talanx AG (Financials)	2,176,739
	678,890	Telefonica Deutschland Holding AG (Communication Services)	1,907,120
	164,269	Zalando SE (Consumer Discretionary)*(b)	4,735,441
			223,298,253
	Hong Kong – 1.6%
	735,250	AIA Group Ltd. (Financials)	7,053,591
	231,678	CK Asset Holdings Ltd. (Real Estate)	1,248,914
	122,229	CK Infrastructure Holdings Ltd. (Utilities)	676,079
	145,117	CLP Holdings Ltd. (Utilities)	1,057,570
	15,809	Futu Holdings Ltd. ADR (Financials)*	582,720
	76,527	Hang Seng Bank Ltd. (Financials)	1,023,521

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Hong Kong – (continued)
	1,252,326	HKT Trust & HKT Ltd. (Communication Services)	$       1,599,752
	971,584	Hong Kong & China Gas Co. Ltd. (Utilities)	876,235
	166,820	Hong Kong Exchanges & Clearing Ltd. (Financials)	6,107,446
	175,026	Hongkong Land Holdings Ltd. (Real Estate)	750,862
	372	Jardine Matheson Holdings Ltd. (Industrials)	17,716
	48,319	Jardine Matheson Holdings Ltd. (Industrials)	2,319,795
	164,494	Link REIT (Real Estate)	956,086
	214,110	MTR Corp. Ltd. (Industrials)	986,001
	1,672,768	New World Development Co. Ltd. (Real Estate)	3,995,882
	259,349	Power Assets Holdings Ltd. (Utilities)	1,396,424
	162,777	Prudential PLC (Financials)	2,130,437
	208,626	Sun Hung Kai Properties Ltd. (Real Estate)	2,657,045
	168,722	Swire Pacific Ltd., Class A (Real Estate)	1,127,220
	396,088	Techtronic Industries Co. Ltd. (Industrials)	3,675,891
	12,359,689	WH Group Ltd. (Consumer Staples)(b)	6,457,526
	222,281	Wharf Real Estate Investment Co. Ltd. (Real Estate)	1,097,456
			47,794,169
	Ireland – 0.6%
	78,258	AerCap Holdings NV (Industrials)*	4,466,967
	486,332	AIB Group PLC (Financials)	1,986,811
	210,144	Bank of Ireland Group PLC (Financials)	1,970,160
	94,640	CRH PLC (Materials)	4,449,502
	16,413	Kerry Group PLC, Class A (Consumer Staples)	1,595,459
	24,947	Kingspan Group PLC (Industrials)	1,651,080
	81,374	Smurfit Kappa Group PLC (Materials)	2,882,797
			19,002,776
	Israel – 0.7%
	201,114	Bank Hapoalim BM (Financials)	1,616,472
	240,414	Bank Leumi Le-Israel BM (Financials)	1,683,242
	28,142	Check Point Software Technologies Ltd. (Information Technology)*	3,512,403
	213,837	ICL Group Ltd. (Materials)	1,163,381
	290,595	Israel Discount Bank Ltd., Class A (Financials)	1,398,142
	26,356	Mizrahi Tefahot Bank Ltd. (Financials)	844,674

Shares		Description	Value
	Common Stocks – (continued)
	Israel – (continued)
	1,047,517	Teva Pharmaceutical Industries Ltd. ADR (Health Care)*	$       7,542,122
	20,923	Tower Semiconductor Ltd. (Information Technology)*	864,941
	23,398	Wix.com Ltd. (Information Technology)*	1,783,396
			20,408,773
	Italy – 2.1%
	262,302	Assicurazioni Generali SpA (Financials)	4,953,827
	110,749	Coca-Cola HBC AG (Consumer Staples)*	3,277,826
	147,919	Davide Campari-Milano NV (Consumer Staples)	1,925,474
	16,405	DiaSorin SpA (Health Care)	1,682,478
	443,489	Enel SpA (Utilities)	2,769,684
	541,755	Eni SpA (Energy)	7,190,687
	29,847	Ferrari NV (Consumer Discretionary)	8,483,185
	196,297	FinecoBank Banca Fineco SpA (Financials)	2,597,069
	90,827	Infrastrutture Wireless Italiane SpA (Communication Services)(b)	1,152,285
	1,123,736	Intesa Sanpaolo SpA (Financials)	2,582,322
	58,099	Mediobanca Banca di Credito Finanziario SpA (Financials)	637,666
	115,183	Moncler SpA (Consumer Discretionary)	7,775,483
	379,830	Poste Italiane SpA (Financials)(b)	3,926,268
	97,123	Prysmian SpA (Industrials)	3,589,831
	86,279	Recordati Industria Chimica e Farmaceutica SpA (Health Care)	3,736,312
	328,549	Snam SpA (Utilities)	1,712,802
	191,931	Terna - Rete Elettrica Nazionale (Utilities)	1,602,566
	264,637	UniCredit SpA (Financials)	5,054,070
			64,649,835
	Japan – 20.0%
	61,536	Advantest Corp. (Information Technology)	7,888,271
	76,650	Aeon Co. Ltd. (Consumer Staples)	1,514,182
	17,091	AGC, Inc. (Industrials)	622,648
	76,592	Ajinomoto Co., Inc. (Consumer Staples)	2,971,801
	56,582	ANA Holdings, Inc. (Industrials)*	1,253,418
	94,606	Asahi Group Holdings Ltd. (Consumer Staples)	3,662,626
	44,196	Asahi Intecc Co. Ltd. (Health Care)	839,855
	92,664	Asahi Kasei Corp. (Materials)	629,079
	537,535	Astellas Pharma, Inc. (Health Care)	8,493,065

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	40,730	Azbil Corp. (Information Technology)	$       1,287,070
	189,926	Bandai Namco Holdings, Inc. (Consumer Discretionary)	4,446,537
	99,594	BayCurrent Consulting, Inc. (Industrials)	3,642,596
	82,656	Bridgestone Corp. (Consumer Discretionary)	3,359,129
	225,736	Brother Industries Ltd. (Information Technology)	3,270,155
	141,030	Canon, Inc. (Information Technology)	3,493,575
	102,572	Capcom Co. Ltd. (Communication Services)	3,993,785
	10,381	Central Japan Railway Co. (Industrials)	1,262,007
	242,281	Chiba Bank Ltd. (The) (Financials)	1,510,409
	138,419	Chubu Electric Power Co., Inc. (Utilities)	1,647,574
	109,031	Chugai Pharmaceutical Co. Ltd. (Health Care)	2,930,333
	249,555	Concordia Financial Group Ltd. (Financials)	964,533
	420,127	CyberAgent, Inc. (Communication Services)	2,970,944
	21,437	Dai Nippon Printing Co. Ltd. (Industrials)	609,899
	88,794	Dai-ichi Life Holdings, Inc. (Financials)	1,521,792
	186,907	Daiichi Sankyo Co. Ltd. (Health Care)	6,073,491
	17,085	Daikin Industries Ltd. (Industrials)	3,247,880
	27,368	Daito Trust Construction Co. Ltd. (Real Estate)	2,595,469
	78,637	Daiwa House Industry Co. Ltd. (Real Estate)	2,049,858
	531	Daiwa House REIT Investment Corp. REIT (Real Estate)	1,111,674
	247,370	Daiwa Securities Group, Inc. (Financials)	1,120,747
	13,680	Denso Corp. (Consumer Discretionary)	843,134
	72,830	Dentsu Group, Inc. (Communication Services)	2,335,314
	14,637	Disco Corp. (Information Technology)	2,131,933
	39,679	East Japan Railway Co. (Industrials)	2,183,389
	72,151	Eisai Co. Ltd. (Health Care)	4,579,573
	308,240	ENEOS Holdings, Inc. (Energy)	1,023,238
	22,185	FANUC Corp. (Industrials)	761,863
	26,238	Fast Retailing Co. Ltd. (Consumer Discretionary)	6,137,192
	54,512	FUJIFILM Holdings Corp. (Information Technology)	3,329,284
	42,998	Fujitsu Ltd. (Information Technology)	5,453,420
	1,202	GLP J REIT (Real Estate)	1,271,557
	24,312	GMO Payment Gateway, Inc. (Financials)	1,917,605

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	168,033	Hakuhodo DY Holdings, Inc. (Communication Services)	$       1,758,324
	25,516	Hamamatsu Photonics KK (Information Technology)	1,298,492
	74,811	Hankyu Hanshin Holdings, Inc. (Industrials)	2,374,740
	9,096	Hikari Tsushin, Inc. (Industrials)	1,313,147
	6,330	Hirose Electric Co. Ltd. (Information Technology)	857,199
	114,312	Hitachi Ltd. (Industrials)	6,583,075
	460,109	Honda Motor Co. Ltd. (Consumer Discretionary)	13,189,253
	28,301	Hoshizaki Corp. (Industrials)	1,016,863
	93,353	Hoya Corp. (Health Care)	11,736,359
	71,457	Hulic Co. Ltd. (Real Estate)	594,814
	68,408	Ibiden Co. Ltd. (Information Technology)	3,730,945
	83,137	Iida Group Holdings Co. Ltd. (Consumer Discretionary)	1,370,988
	655,622	Inpex Corp. (Energy)(a)	6,944,999
	174,622	Isuzu Motors Ltd. (Consumer Discretionary)	2,029,747
	274,667	ITOCHU Corp. (Industrials)	9,281,057
	43,047	Itochu Techno-Solutions Corp. (Information Technology)	1,118,424
	201,401	Japan Airlines Co. Ltd. (Industrials)	3,843,074
	47,754	Japan Exchange Group, Inc. (Financials)	779,465
	1,710	Japan Metropolitan Fund Invest REIT (Real Estate)	1,206,785
	259,548	Japan Post Bank Co. Ltd. (Financials)	1,933,862
	855,212	Japan Post Holdings Co. Ltd. (Financials)	6,026,241
	250,002	Japan Post Insurance Co. Ltd. (Financials)	3,752,311
	273	Japan Real Estate Investment Corp. REIT (Real Estate)	1,035,608
	190,253	Japan Tobacco, Inc. (Consumer Staples)	4,139,635
	53,051	JFE Holdings, Inc. (Materials)	654,618
	117,387	Kajima Corp. (Industrials)	1,642,569
	145,901	Kansai Electric Power Co., Inc. (The) (Utilities)	1,666,664
	80,490	Kao Corp. (Consumer Staples)	2,809,646
	280,841	KDDI Corp. (Communication Services)	8,625,335
	16,856	Keio Corp. (Industrials)	592,370
	49,633	Keisei Electric Railway Co. Ltd. (Industrials)	1,900,559
	14,720	Keyence Corp. (Information Technology)	7,143,227
	44,003	Kikkoman Corp. (Consumer Staples)	2,592,024

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	60,640	Kintetsu Group Holdings Co. Ltd. (Industrials)	$       2,003,032
	126,452	Kirin Holdings Co. Ltd. (Consumer Staples)	1,882,095
	17,910	Kobayashi Pharmaceutical Co. Ltd. (Consumer Staples)	1,010,134
	21,018	Kobe Bussan Co. Ltd. (Consumer Staples)	578,422
	36,442	Koei Tecmo Holdings Co. Ltd. (Communication Services)	612,170
	77,432	Komatsu Ltd. (Industrials)	1,824,472
	55,513	Kose Corp. (Consumer Staples)	5,562,624
	36,905	Kyocera Corp. (Information Technology)	2,093,612
	42,305	Kyowa Kirin Co. Ltd. (Health Care)	811,491
	59,143	M3, Inc. (Health Care)	1,315,653
	684,342	Marubeni Corp. (Industrials)	9,757,072
	48,636	MatsukiyoCocokara & Co. (Consumer Staples)	2,600,372
	631,157	Mazda Motor Corp. (Consumer Discretionary)	5,393,848
	60,838	McDonald’s Holdings Co. Japan Ltd. (Consumer Discretionary)	2,495,092
	60,709	MEIJI Holdings Co. Ltd. (Consumer Staples)	1,357,876
	146,955	MISUMI Group, Inc. (Industrials)	3,208,050
	375,784	Mitsubishi Chemical Group Corp. (Materials)	2,106,800
	277,957	Mitsubishi Corp. (Industrials)	11,113,107
	214,520	Mitsubishi Electric Corp. (Industrials)	2,792,913
	99,400	Mitsubishi Estate Co. Ltd. (Real Estate)	1,140,452
	463,205	Mitsubishi HC Capital, Inc. (Financials)	2,509,725
	26,777	Mitsubishi Heavy Industries Ltd. (Industrials)	1,131,911
	1,115,178	Mitsubishi UFJ Financial Group, Inc. (Financials)	7,443,034
	308,294	Mitsui & Co. Ltd. (Industrials)	9,717,831
	56,475	Mitsui Fudosan Co. Ltd. (Real Estate)	1,076,224
	111,757	Mitsui OSK Lines Ltd. (Industrials)	2,539,659
	375,736	Mizuho Financial Group, Inc. (Financials)	5,521,140
	325,579	MonotaRO Co. Ltd. (Industrials)	4,520,798
	89,890	MS&AD Insurance Group Holdings, Inc. (Financials)	3,086,943
	53,018	Murata Manufacturing Co. Ltd. (Information Technology)	3,111,295
	136,039	NEC Corp. (Information Technology)	6,377,665
	70,882	Nexon Co. Ltd. (Communication Services)	1,443,869

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	62,568	NGK Insulators Ltd. (Industrials)	$          753,691
	111,679	Nintendo Co. Ltd. (Communication Services)	4,744,849
	222	Nippon Building Fund, Inc. REIT (Real Estate)	886,634
	74,882	Nippon Paint Holdings Co. Ltd. (Materials)	574,016
	396	Nippon Prologis REIT, Inc. REIT (Real Estate)	828,195
	98,513	Nippon Steel Corp. (Materials)	1,914,698
	444,760	Nippon Telegraph & Telephone Corp. (Communication Services)	12,590,100
	186,219	Nippon Yusen KK (Industrials)	3,961,894
	22,878	Nissan Chemical Corp. (Materials)	992,311
	452,728	Nissan Motor Co. Ltd. (Consumer Discretionary)	1,694,388
	71,039	Nisshin Seifun Group, Inc. (Consumer Staples)	889,290
	22,118	Nissin Foods Holdings Co. Ltd. (Consumer Staples)	1,882,282
	33,973	Nitori Holdings Co. Ltd. (Consumer Discretionary)	4,132,492
	19,849	Nitto Denko Corp. (Materials)	1,410,733
	188,338	Nomura Holdings, Inc. (Financials)	659,180
	38,798	Nomura Real Estate Holdings, Inc. (Real Estate)	937,217
	1,001	Nomura Real Estate Master Fund, Inc. REIT (Real Estate)	1,174,276
	63,694	Nomura Research Institute Ltd. (Information Technology)	1,600,157
	69,264	NTT Data Corp. (Information Technology)	990,017
	512,380	Obayashi Corp. (Industrials)	4,122,071
	5,571	Obic Co. Ltd. (Information Technology)	900,754
	208,726	Oji Holdings Corp. (Materials)	802,246
	278,658	Olympus Corp. (Health Care)	4,223,300
	52,345	Omron Corp. (Information Technology)	3,156,473
	117,614	Ono Pharmaceutical Co. Ltd. (Health Care)	2,195,871
	47,216	Oracle Corp. Japan (Information Technology)	3,609,254
	102,873	Oriental Land Co. Ltd. (Consumer Discretionary)	3,848,672
	118,492	ORIX Corp. (Financials)	2,014,657
	57,321	Osaka Gas Co. Ltd. (Utilities)	906,288
	23,164	Otsuka Corp. (Information Technology)	872,080

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	119,953	Otsuka Holdings Co. Ltd. (Health Care)	$       4,441,305
	69,271	Pan Pacific International Holdings Corp. (Consumer Discretionary)	1,179,513
	326,312	Panasonic Holdings Corp. (Consumer Discretionary)	3,411,077
	248,082	Persol Holdings Co. Ltd. (Industrials)	4,680,558
	279,845	Recruit Holdings Co. Ltd. (Industrials)	8,592,743
	310,874	Renesas Electronics Corp. (Information Technology)*	5,095,383
	472,483	Resona Holdings, Inc. (Financials)	2,142,347
	721,743	Ricoh Co. Ltd. (Information Technology)	6,023,350
	53,526	SBI Holdings, Inc. (Financials)	999,913
	26,746	Secom Co. Ltd. (Industrials)	1,748,928
	171,722	Seiko Epson Corp. (Information Technology)	2,604,437
	86,318	Sekisui Chemical Co. Ltd. (Consumer Discretionary)	1,189,294
	103,887	Sekisui House Ltd. (Consumer Discretionary)	2,025,096
	157,063	Seven & i Holdings Co. Ltd. (Consumer Staples)	6,570,756
	59,183	Shimadzu Corp. (Information Technology)	1,829,944
	9,343	Shimano, Inc. (Consumer Discretionary)	1,465,162
	206,307	Shimizu Corp. (Industrials)	1,249,227
	119,046	Shin-Etsu Chemical Co. Ltd. (Materials)	3,661,315
	24,956	Shionogi & Co. Ltd. (Health Care)	1,121,024
	153,700	Shiseido Co. Ltd. (Consumer Staples)	6,980,113
	230,233	Shizuoka Financial Group, Inc. (Financials)	1,690,721
	371,444	SoftBank Corp. (Communication Services)	3,949,326
	142,636	SoftBank Group Corp. (Communication Services)	5,589,465
	38,285	Sompo Holdings, Inc. (Financials)	1,559,186
	64,640	Sony Group Corp. (Consumer Discretionary)	6,088,555
	46,100	Square Enix Holdings Co. Ltd. (Communication Services)	2,062,234
	333,886	Subaru Corp. (Consumer Discretionary)	5,733,046
	73,150	SUMCO Corp. (Information Technology)	1,042,420
	314,274	Sumitomo Chemical Co. Ltd. (Materials)	935,748
	275,417	Sumitomo Corp. (Industrials)	5,197,272
	86,897	Sumitomo Electric Industries Ltd. (Consumer Discretionary)	1,028,720

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	178,206	Sumitomo Mitsui Financial Group, Inc. (Financials)	$       7,242,269
	65,629	Sumitomo Mitsui Trust Holdings, Inc. (Financials)	2,304,049
	76,563	Suntory Beverage & Food Ltd. (Consumer Staples)	2,811,210
	18,579	Suzuki Motor Corp. (Consumer Discretionary)	611,964
	56,422	Sysmex Corp. (Health Care)	3,686,622
	119,602	Taisei Corp. (Industrials)	3,796,549
	407,914	Takeda Pharmaceutical Co. Ltd. (Health Care)	12,907,618
	53,843	Terumo Corp. (Health Care)	1,636,312
	52,452	TIS, Inc. (Information Technology)	1,467,898
	84,581	Tobu Railway Co. Ltd. (Industrials)	2,209,646
	29,321	Toho Co. Ltd. (Communication Services)	1,152,148
	223,779	Tokio Marine Holdings, Inc. (Financials)	5,035,688
	62,620	Tokyo Electron Ltd. (Information Technology)	8,656,947
	204,385	Tokyo Gas Co. Ltd. (Utilities)	4,343,264
	177,325	Tokyu Corp. (Industrials)	2,287,082
	132,919	TOPPAN, Inc. (Industrials)	2,837,901
	211,392	Toray Industries, Inc. (Materials)	1,115,401
	32,384	Toshiba Corp. (Industrials)	1,042,806
	62,803	Tosoh Corp. (Materials)	721,460
	26,602	TOTO Ltd. (Industrials)	806,352
	693,640	Toyota Motor Corp. (Consumer Discretionary)	9,475,088
	40,858	Toyota Tsusho Corp. (Industrials)	1,795,570
	44,199	Trend Micro, Inc. (Information Technology)	2,100,572
	58,387	Unicharm Corp. (Consumer Staples)	2,218,635
	95,386	USS Co. Ltd. (Consumer Discretionary)	1,549,088
	234,015	Welcia Holdings Co. Ltd. (Consumer Staples)	4,937,739
	41,711	West Japan Railway Co. (Industrials)	1,743,792
	38,871	Yakult Honsha Co. Ltd. (Consumer Staples)	2,517,858
	37,387	Yamaha Motor Co. Ltd. (Consumer Discretionary)	920,526
	63,172	Yamato Holdings Co. Ltd. (Industrials)	1,154,336
	14,899	Yaskawa Electric Corp. (Industrials)	629,167
	103,528	Yokogawa Electric Corp. (Information Technology)	1,950,297

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	279,549	ZOZO, Inc. (Consumer Discretionary)	$       5,690,422
			611,146,244
	Jordan – 0.1%
	135,289	Hikma Pharmaceuticals PLC (Health Care)	3,003,939
	Luxembourg – 0.4%
	440,253	ArcelorMittal (Materials)	10,903,090
	35,596	Eurofins Scientific SE (Health Care)	2,339,171
			13,242,261
	Macau – 0.1%
	142,045	Galaxy Entertainment Group Ltd. (Consumer Discretionary)*	880,948
	469,149	Sands China Ltd. (Consumer Discretionary)*	1,519,232
			2,400,180
	Netherlands – 4.5%
	125,537	ABN AMRO Bank NV (Financials)(b)	1,820,826
	502	Adyen NV (Financials)*(b)	817,116
	179,258	Aegon NV (Financials)	786,405
	21,915	Akzo Nobel NV (Materials)	1,645,731
	4,569	Argenx SE (Health Care)*	1,775,971
	8,193	ASM International NV (Information Technology)	3,540,991
	51,322	ASML Holding NV (Information Technology)	36,740,721
	14,270	Euronext NV (Financials)(b)	945,504
	51,350	EXOR NV (Financials)*	4,251,439
	55,493	Heineken Holding NV (Consumer Staples)	4,706,266
	33,558	Heineken NV (Consumer Staples)	3,380,135
	7,079	IMCD NV (Industrials)	1,060,720
	385,014	ING Groep NV (Financials)	4,723,615
	98,937	JDE Peet’s NV (Consumer Staples)	2,866,859
	486,896	Koninklijke Ahold Delhaize NV (Consumer Staples)	15,395,913
	750,105	Koninklijke KPN NV (Communication Services)	2,573,393
	93,041	Koninklijke Philips NV (Health Care)*	1,750,325
	53,445	NN Group NV (Financials)	1,921,289
	52,629	OCI NV (Materials)	1,166,481
	106,305	Randstad NV (Industrials)	5,197,396
	975,834	Shell PLC (Energy)	26,855,825

Shares		Description	Value
	Common Stocks – (continued)
	Netherlands – (continued)
	67,086	Universal Music Group NV (Communication Services)	$       1,323,128
	100,410	Wolters Kluwer NV (Industrials)	11,432,634
			136,678,683
	New Zealand – 0.3%
	115,336	Auckland International Airport Ltd. (Industrials)*	613,499
	186,314	Fisher & Paykel Healthcare Corp. Ltd. (Health Care)	2,596,265
	157,698	Mercury NZ Ltd. (Utilities)	620,027
	184,080	Meridian Energy Ltd. (Utilities)	585,843
	523,624	Spark New Zealand Ltd. (Communication Services)	1,619,384
	33,834	Xero Ltd. (Information Technology)*	2,407,430
			8,442,448
	Norway – 0.7%
	52,636	Aker BP ASA (Energy)	1,139,357
	148,759	DNB Bank ASA (Financials)	2,480,440
	258,974	Equinor ASA (Energy)	6,594,652
	244,622	Gjensidige Forsikring ASA (Financials)	4,094,248
	40,399	Kongsberg Gruppen ASA (Industrials)	1,611,907
	267,769	Norsk Hydro ASA (Materials)	1,611,956
	337,227	Orkla ASA (Consumer Staples)	2,416,860
	94,270	Telenor ASA (Communication Services)(a)	964,447
			20,913,867
	Portugal – 0.4%
	240,437	EDP – Energias de Portugal SA (Utilities)	1,169,377
	77,858	Galp Energia SGPS SA (Energy)	821,412
	409,869	Jeronimo Martins SGPS SA (Consumer Staples)	9,866,591
			11,857,380
	Singapore – 1.6%
	561,945	CapitaLand Integrated Commercial Trust REIT (Real Estate)	829,531
	148,312	City Developments Ltd. (Real Estate)	738,905
	381,862	DBS Group Holdings Ltd. (Financials)	8,540,000
	2,191,197	Genting Singapore Ltd. (Consumer Discretionary)	1,633,472
	56,545	Jardine Cycle & Carriage Ltd. (Industrials)	1,349,301

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Singapore – (continued)
	382,736	Keppel Corp. Ltd. (Industrials)	$       1,782,533
	704,317	Mapletree Logistics Trust REIT (Real Estate)	862,949
	872,341	Oversea-Chinese Banking Corp. Ltd. (Financials)	7,900,228
	7,310,258	Seatrium Ltd. (Industrials)*	663,661
	384,374	Singapore Airlines Ltd. (Industrials)	1,818,531
	1,318,591	Singapore Exchange Ltd. (Financials)	9,031,645
	1,007,994	Singapore Telecommunications Ltd. (Communication Services)	1,852,534
	129,000	STMicroelectronics NV (Information Technology)	5,582,906
	246,594	United Overseas Bank Ltd. (Financials)	5,087,133
			47,673,329
	South Africa – 0.0%
	47,699	Anglo American PLC (Materials)	1,314,493
	Spain – 2.5%
	9,029	Acciona SA (Utilities)	1,456,387
	220,427	ACS Actividades de Construccion y Servicios SA (Industrials)	7,313,116
	45,332	Amadeus IT Group SA (Consumer Discretionary)*	3,233,174
	982,006	Banco Bilbao Vizcaya Argentaria SA (Financials)	6,407,132
	2,544,624	Banco Santander SA (Financials)	8,260,551
	531,815	CaixaBank SA (Financials)	1,943,000
	22,882	Corp ACCIONA Energias Renovables SA (Utilities)*(a)	759,157
	75,138	Enagas SA (Utilities)	1,430,268
	72,563	Endesa SA (Utilities)	1,564,981
	86,349	Ferrovial SA (Industrials)	2,665,041
	735,425	Iberdrola SA (Utilities)	8,938,020
	385,357	Industria de Diseno Textil SA (Consumer Discretionary)	12,854,847
	78,736	Naturgy Energy Group SA (Utilities)	2,234,496
	132,206	Red Electrica Corp. SA (Utilities)	2,233,271
	758,620	Repsol SA (Energy)	10,263,228
	924,013	Telefonica SA (Communication Services)	3,910,810
			75,467,479

Shares		Description	Value
	Common Stocks – (continued)
	Sweden – 2.1%
	49,670	Alfa Laval AB (Industrials)	$       1,778,949
	77,998	Assa Abloy AB, Class B (Industrials)	1,725,708
	346,547	Atlas Copco AB, Class A (Industrials)	5,032,503
	237,538	Atlas Copco AB, Class B (Industrials)	2,981,338
	71,930	Epiroc AB, Class A (Industrials)	1,255,715
	53,443	Epiroc AB, Class B (Industrials)	804,817
	113,472	Essity AB, Class B (Consumer Staples)	3,006,848
	11,420	Evolution AB (Consumer Discretionary)(b)	1,495,861
	32,718	Getinge AB, Class B (Health Care)	750,041
	558,233	H & M Hennes & Mauritz AB, Class B (Consumer Discretionary)	6,946,881
	85,273	Hexagon AB, Class B (Information Technology)	985,643
	29,962	Holmen AB, Class B (Materials)	1,129,810
	126,819	Husqvarna AB, Class B (Industrials)(a)	933,349
	49,557	Industrivarden AB, Class A (Financials)	1,329,583
	59,714	Industrivarden AB, Class C (Financials)	1,591,664
	70,164	Investor AB, Class A (Financials)	1,438,273
	182,064	Investor AB, Class B (Financials)	3,691,097
	23,033	L E Lundbergforetagen AB, Class B (Financials)	955,299
	35,625	Lifco AB, Class B (Industrials)	749,907
	155,364	Nibe Industrier AB, Class B (Industrials)	1,478,182
	17,242	Saab AB, Class B (Industrials)	935,956
	57,196	Sandvik AB (Industrials)	1,001,913
	186,129	Skandinaviska Enskilda Banken AB, Class A (Financials)	1,940,198
	81,385	Svenska Cellulosa AB SCA, Class B (Materials)	1,076,050
	250,922	Svenska Handelsbanken AB, Class A (Financials)	1,976,740
	160,786	Swedbank AB, Class A (Financials)	2,453,096
	86,312	Swedish Orphan Biovitrum AB (Health Care)*	1,728,841
	185,436	Tele2 AB, Class B (Communication Services)	1,679,958
	682,655	Telefonaktiebolaget LM Ericsson, Class B (Information Technology)	3,520,030
	602,494	Telia Co. AB (Communication Services)	1,398,896
	81,363	Volvo AB, Class A (Industrials)	1,563,926
	174,824	Volvo AB, Class B (Industrials)	3,216,629

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Sweden – (continued)
	354,128	Volvo Car AB, Class B (Consumer Discretionary)*	$       1,213,008
			63,766,709
	Switzerland – 4.8%
	153,613	ABB Ltd. (Industrials)	5,588,982
	26,707	Adecco Group AG (Industrials)	793,483
	26,637	Alcon, Inc. (Health Care)	2,058,929
	17,162	Baloise Holding AG (Financials)	2,626,444
	25,863	Banque Cantonale Vaudoise (Financials)	2,592,949
	994	Barry Callebaut AG (Consumer Staples)	2,001,809
	10,689	BKW AG (Utilities)	1,909,439
	368	Chocoladefabriken Lindt & Spruengli AG (Consumer Staples)	4,383,876
	55,454	Cie Financiere Richemont SA, Class A (Consumer Discretionary)	8,768,666
	41,709	Clariant AG (Materials)*	599,069
	13,732	DSM-Firmenich AG (Materials)*	1,523,113
	3,388	EMS-Chemie Holding AG (Materials)	2,612,853
	7,727	Geberit AG (Industrials)	4,077,564
	562	Givaudan SA (Materials)	1,841,877
	11,508	Helvetia Holding AG (Financials)	1,627,724
	27,233	Julius Baer Group Ltd. (Financials)	1,657,544
	33,455	Kuehne + Nagel International AG (Industrials)	9,482,241
	66,642	Logitech International SA (Information Technology)	4,254,474
	2,766	Lonza Group AG (Health Care)	1,722,869
	326,418	Novartis AG (Health Care)	31,122,456
	8,048	Partners Group Holding AG (Financials)	7,226,165
	7,199	Schindler Holding AG (Industrials)	1,437,989
	6,227	Schindler Holding AG Participation Certificates (Industrials)	1,284,704
	69,406	SGS SA (Industrials)	6,137,703
	5,026	Sika AG (Materials)	1,365,704
	6,162	Sonova Holding AG (Health Care)	1,573,277
	39,947	Straumann Holding AG (Health Care)	5,816,273
	13,947	Swatch Group AG (The) – Bearer (Consumer Discretionary)	4,128,489
	62,866	Swatch Group AG (The) – Registered (Consumer Discretionary)	3,514,142
	6,203	Swiss Life Holding AG (Financials)	3,569,193
	20,029	Swiss Prime Site AG (Real Estate)	1,683,781

Shares		Description	Value
	Common Stocks – (continued)
	Switzerland – (continued)
	4,335	Swisscom AG (Communication Services)	$       2,735,249
	308,118	UBS Group AG (Financials)	5,810,813
	5,370	VAT Group AG (Industrials)(b)	2,204,628
	15,920	Zurich Insurance Group AG (Financials)	7,418,826
			147,153,297
	United Kingdom – 10.5%
	302,151	3i Group PLC (Financials)	7,323,078
	388,760	abrdn PLC (Financials)	956,431
	247,445	Admiral Group PLC (Financials)	7,130,392
	23,590	Ashtead Group PLC (Industrials)	1,432,636
	165,756	Associated British Foods PLC (Consumer Staples)	3,750,273
	211,263	AstraZeneca PLC (Health Care)	30,530,489
	1,194,194	Auto Trader Group PLC (Communication Services)(b)	9,324,536
	268,013	Aviva PLC (Financials)	1,309,436
	512,944	BAE Systems PLC (Industrials)	5,900,968
	2,188,413	Barclays PLC (Financials)	4,104,826
	1,032,765	Barratt Developments PLC (Consumer Discretionary)	5,923,885
	59,377	Berkeley Group Holdings PLC (Consumer Discretionary)	2,889,218
	2,617,417	BP PLC (Energy)	14,705,182
	344,135	British American Tobacco PLC (Consumer Staples)	10,895,484
	82,281	Bunzl PLC (Industrials)	3,206,224
	383,271	Burberry Group PLC (Consumer Discretionary)	10,232,068
	1,470,079	Centrica PLC (Utilities)	2,143,603
	897,491	CK Hutchison Holdings Ltd. (Industrials)	5,428,569
	343,413	CNH Industrial NV (Industrials)	4,375,047
	73,678	Coca-Cola Europacific Partners PLC (Consumer Staples)	4,596,770
	292,364	Compass Group PLC (Consumer Discretionary)	7,979,083
	15,511	Croda International PLC (Materials)	1,172,685
	42,809	DCC PLC (Industrials)	2,439,054
	234,856	Diageo PLC (Consumer Staples)	9,742,472
	86,344	Entain PLC (Consumer Discretionary)	1,411,526
	43,750	Halma PLC (Information Technology)	1,306,251
	465,031	Hargreaves Lansdown PLC (Financials)	4,623,558
	1,866,450	HSBC Holdings PLC (Financials)	13,659,916

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	264,680	Imperial Brands PLC (Consumer Staples)	$       5,560,356
	290,188	Informa PLC (Communication Services)	2,506,825
	30,622	InterContinental Hotels Group PLC (Consumer Discretionary)	1,999,360
	27,529	Intertek Group PLC (Industrials)	1,417,323
	3,121,313	J Sainsbury PLC (Consumer Staples)	10,468,318
	3,997,353	JD Sports Fashion PLC (Consumer Discretionary)	7,530,570
	1,382,180	Kingfisher PLC (Consumer Discretionary)	3,957,203
	94,465	Land Securities Group PLC REIT (Real Estate)	704,822
	1,133,546	Legal & General Group PLC (Financials)	3,204,618
	12,214,603	Lloyds Banking Group PLC (Financials)	6,686,803
	38,283	London Stock Exchange Group PLC (Financials)	4,056,802
	236,952	National Grid PLC (Utilities)	3,248,084
	790,258	NatWest Group PLC (Financials)	2,542,643
	73,471	Next PLC (Consumer Discretionary)	5,778,669
	98,865	Pearson PLC (Consumer Discretionary)	978,061
	241,240	Phoenix Group Holdings PLC (Financials)	1,651,638
	74,842	Reckitt Benckiser Group PLC (Consumer Staples)	5,793,742
	288,772	RELX PLC (Industrials)	8,983,397
	295,528	Rentokil Initial PLC (Industrials)	2,339,049
	931,383	Rolls-Royce Holdings PLC (Industrials)*	1,654,193
	804,457	Sage Group PLC (The) (Information Technology)	8,684,259
	124,999	Schroders PLC (Financials)	705,833
	55,601	Severn Trent PLC (Utilities)	1,910,928
	227,741	Smith & Nephew PLC (Health Care)	3,392,794
	118,270	Smiths Group PLC (Industrials)	2,354,138
	9,055	Spirax-Sarco Engineering PLC (Industrials)	1,226,088
	153,373	SSE PLC (Utilities)	3,576,555
	277,781	St James’s Place PLC (Financials)	3,838,744
	320,469	Standard Chartered PLC (Financials)	2,516,593
	1,091,501	Taylor Wimpey PLC (Consumer Discretionary)	1,544,906
	2,337,322	Tesco PLC (Consumer Staples)	7,555,060
	266,428	Unilever PLC (Consumer Staples)	13,304,204
	144,893	United Utilities Group PLC (Utilities)	1,818,253
	4,792,286	Vodafone Group PLC (Communication Services)	4,536,044
	15,248	Whitbread PLC (Consumer Discretionary)	621,001

Shares		Description				Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	136,056	Wise PLC, Class A (Financials)*				$          978,716
	79,682	WPP PLC (Communication Services)				843,195
						318,963,447
	United States – 5.6%
	37,199	BRP, Inc. (Consumer Discretionary)				2,641,121
	40,720	CSL Ltd. (Health Care)				8,073,975
	142,998	Experian PLC (Industrials)				5,019,206
	693,541	GSK PLC (Health Care)				11,573,321
	596,066	Haleon PLC (Consumer Staples)				2,350,749
	96,409	Holcim AG (Materials)*				5,920,693
	91,696	James Hardie Industries PLC CDI (Materials)*				2,248,433
	7,126	Monday.com Ltd. (Information Technology)*				1,284,105
	382,632	Nestle SA (Consumer Staples)				45,163,259
	59,117	QIAGEN NV (Health Care)*				2,660,271
	13,860	Roche Holding AG (Health Care)(a)				4,654,619
	121,954	Roche Holding AG (Health Care)				38,447,894
	173,549	Sanofi (Health Care)(a)				17,554,759
	66,664	Schneider Electric SE (Industrials)				11,466,517
	344,483	Stellantis NV (Consumer Discretionary)				5,208,388
	38,919	Swiss Re AG (Financials)				3,883,598
	144,907	Tenaris SA (Energy)				1,802,845
						169,953,753
	Zambia – 0.0%
	79,407	First Quantum Minerals Ltd. (Materials)				1,661,396
	TOTAL COMMON STOCKS (Cost $2,809,067,810)					$3,019,338,313
Shares		Description	Rate			Value
	Preferred Stocks – 0.3%
	Germany – 0.3%
	48,225	Bayerische Motoren Werke AG (Consumer Discretionary)		8.75	%	$       4,943,330
	36,228	Henkel AG & Co. KGaA (Consumer Staples)		2.48		2,878,935
	3,377	Sartorius AG (Health Care)		0.45		1,128,669

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Rate			Value
	Preferred Stocks – (continued)
	Germany – (continued)
	8,905	Volkswagen AG (Consumer Discretionary)		23.46	%	$       1,106,767
	TOTAL PREFERRED STOCKS (Cost $9,813,849)					$     10,057,701
	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE (Cost $2,818,881,659)					$3,029,396,014
Shares		Dividend Rate				Value
	Securities Lending Reinvestment Vehicle – 2.2%(c)
	Goldman Sachs Financial Square Government Fund – Institutional Shares
	67,483,623	5.003%				$     67,483,623
	(Cost $67,483,623)
	TOTAL INVESTMENTS – 101.6% (Cost $2,886,365,282)					$3,096,879,637
	LIABILITIES IN EXCESS OF     OTHER ASSETS – (1.6)%					(50,174,973)
	NET ASSETS – 100.0%					$3,046,704,664

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	All or a portion of security is on loan.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Represents an affiliated issuer.

Investment Abbreviations:
ADR	— American Depositary Receipt
CVA	— Dutch Certification
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® INTERNATIONAL EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At May 31, 2023, the Portfolio had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount		Unrealized Appreciation/ (Depreciation)
Long position contracts:
E-Mini MSCI EAFE Index Future	153	06/16/23	$	15,708,510	$	(644,329	)

Sector Name	% of Market Value
Financials		18.0	%
Industrials		15.6
Health Care		12.3
Consumer Staples		12.3
Consumer Discretionary		12.0
Information Technology		7.9
Materials		5.9
Energy		5.4
Communication Services		4.2
Utilities		2.8
Real Estate		1.4
Securities Lending Reinvestment Vehicle		2.2
TOTAL INVESTMENTS		100.0	%

GOLDMAN SACHS ACTIVEBETA^® JAPAN EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 98.9%
	Communication Services – 7.6%
	1,433	Capcom Co. Ltd.	$       55,796
	3,625	CyberAgent, Inc.	25,634
	1,312	Dentsu Group, Inc.	42,070
	4,726	Hakuhodo DY Holdings, Inc.	49,454
	5,325	KDDI Corp.	163,544
	816	Koei Tecmo Holdings Co. Ltd.	13,708
	268	Konami Group Corp.	14,175
	1,272	Nexon Co. Ltd.	25,911
	3,452	Nintendo Co. Ltd.	146,663
	5,552	Nippon Telegraph & Telephone Corp.	157,164
	10,333	SoftBank Corp.	109,864
	3,361	SoftBank Group Corp.	131,707
	686	Square Enix Holdings Co. Ltd.	30,687
	357	Toho Co. Ltd.	14,028
	5,452	Z Holdings Corp.	13,545
			993,950
	Consumer Discretionary – 17.7%
	444	Aisin Corp.	12,743
	2,278	Bandai Namco Holdings, Inc.	53,332
	2,099	Bridgestone Corp.(a)	85,303
	914	Denso Corp.	56,332
	584	Fast Retailing Co. Ltd.	136,600
	9,205	Honda Motor Co. Ltd.	263,866
	1,521	Iida Group Holdings Co. Ltd.	25,082
	2,236	Isuzu Motors Ltd.	25,991
	308	Koito Manufacturing Co. Ltd.	5,780
	12,273	Mazda Motor Corp.	104,885
	975	McDonald’s Holdings Co. Japan Ltd.	39,987
	15,776	Nissan Motor Co. Ltd.	59,044
	415	Nitori Holdings Co. Ltd.	50,481
	180	Open House Group Co. Ltd.	6,905
	2,787	Oriental Land Co. Ltd.	104,267
	1,830	Pan Pacific International Holdings Corp.	31,160
	9,883	Panasonic Holdings Corp.	103,311
	1,417	Rakuten Group, Inc.	5,842
	1,959	Sekisui Chemical Co. Ltd.	26,991
	2,419	Sekisui House Ltd.	47,154
	1,197	Sharp Corp.*	6,854
	191	Shimano, Inc.	29,952
	3,541	Sony Group Corp.	333,533
	5,804	Subaru Corp.	99,659
	4,729	Sumitomo Electric Industries Ltd.	55,984

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	829	Suzuki Motor Corp.	$       27,306
	31,626	Toyota Motor Corp.	432,010
	989	USS Co. Ltd.	16,062
	410	Yamaha Corp.	16,228
	1,380	Yamaha Motor Co. Ltd.	33,978
	1,324	ZOZO, Inc.	26,951
			2,323,573
	Consumer Staples – 8.2%
	3,342	Aeon Co. Ltd.	66,020
	2,268	Ajinomoto Co., Inc.	87,999
	2,043	Asahi Group Holdings Ltd.	79,094
	4,884	Japan Tobacco, Inc.(a)	106,269
	1,518	Kao Corp.	52,988
	574	Kikkoman Corp.	33,812
	3,646	Kirin Holdings Co. Ltd.	54,267
	321	Kobayashi Pharmaceutical Co. Ltd.	18,105
	308	Kobe Bussan Co. Ltd.	8,476
	333	Kose Corp.	33,368
	1,106	MatsukiyoCocokara & Co.	59,133
	1,019	MEIJI Holdings Co. Ltd.	22,792
	1,267	Nisshin Seifun Group, Inc.	15,861
	562	Nissin Foods Holdings Co. Ltd.	47,827
	3,494	Seven & i Holdings Co. Ltd.	146,172
	1,365	Shiseido Co. Ltd.	61,990
	1,164	Suntory Beverage & Food Ltd.	42,739
	1,278	Unicharm Corp.	48,562
	1,408	Welcia Holdings Co. Ltd.	29,709
	921	Yakult Honsha Co. Ltd.	59,658
			1,074,841
	Energy – 1.0%
	3,756	ENEOS Holdings, Inc.	12,469
	254	Idemitsu Kosan Co. Ltd.	4,923
	10,191	Inpex Corp.(a)	107,953
			125,345
	Financials – 11.2%
	4,408	Chiba Bank Ltd. (The)	27,480
	5,926	Concordia Financial Group Ltd.	22,904
	1,767	Dai-ichi Life Holdings, Inc.	30,284
	3,582	Daiwa Securities Group, Inc.	16,229
	282	GMO Payment Gateway, Inc.	22,243

GOLDMAN SACHS ACTIVEBETA^® JAPAN EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	2,081	Japan Exchange Group, Inc.	$       33,967
	3,963	Japan Post Bank Co. Ltd.	29,528
	21,290	Japan Post Holdings Co. Ltd.	150,020
	6,471	Japan Post Insurance Co. Ltd.	97,124
	11,473	Mitsubishi HC Capital, Inc.	62,163
	33,324	Mitsubishi UFJ Financial Group, Inc.	222,414
	10,922	Mizuho Financial Group, Inc.	160,490
	1,413	MS&AD Insurance Group Holdings, Inc.	48,524
	4,408	Nomura Holdings, Inc.	15,428
	2,359	ORIX Corp.	40,109
	8,986	Resona Holdings, Inc.	40,744
	704	SBI Holdings, Inc.	13,151
	4,465	Shizuoka Financial Group, Inc.	32,789
	671	Sompo Holdings, Inc.	27,327
	4,564	Sumitomo Mitsui Financial Group, Inc.	185,480
	1,291	Sumitomo Mitsui Trust Holdings, Inc.	45,323
	1,078	T&D Holdings, Inc.	14,675
	5,644	Tokio Marine Holdings, Inc.	127,007
			1,465,403
	Health Care – 9.7%
	1,196	Asahi Intecc Co. Ltd.	22,728
	8,759	Astellas Pharma, Inc.	138,392
	2,264	Chugai Pharmaceutical Co. Ltd.	60,848
	5,846	Daiichi Sankyo Co. Ltd.	189,964
	1,188	Eisai Co. Ltd.	75,405
	1,242	Hoya Corp.	156,145
	1,287	Kyowa Kirin Co. Ltd.	24,687
	1,191	M3, Inc.	26,494
	413	Nippon Shinyaku Co. Ltd.	18,859
	4,501	Olympus Corp.	68,216
	2,937	Ono Pharmaceutical Co. Ltd.	54,834
	2,251	Otsuka Holdings Co. Ltd.	83,344
	920	Shionogi & Co. Ltd.	41,326
	684	Sysmex Corp.	44,693
	6,875	Takeda Pharmaceutical Co. Ltd.	217,546
	1,697	Terumo Corp.	51,573
			1,275,054
	Industrials – 21.8%
	431	AGC, Inc.(a)	15,702
	931	ANA Holdings, Inc.*	20,624
	571	BayCurrent Consulting, Inc.	20,884

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	217	Central Japan Railway Co.	$       26,380
	728	Dai Nippon Printing Co. Ltd.	20,712
	296	Daifuku Co. Ltd.	5,994
	633	Daikin Industries Ltd.	120,334
	747	East Japan Railway Co.	41,105
	1,787	FANUC Corp.	61,368
	286	Fuji Electric Co. Ltd.	12,016
	1,205	Hankyu Hanshin Holdings, Inc.	38,251
	181	Hikari Tsushin, Inc.	26,130
	148	Hitachi Construction Machinery Co. Ltd.	3,655
	3,237	Hitachi Ltd.	186,414
	523	Hoshizaki Corp.	18,792
	4,608	ITOCHU Corp.	155,705
	2,046	Japan Airlines Co. Ltd.	39,041
	2,363	Kajima Corp.	33,065
	927	Kawasaki Kisen Kaisha Ltd.	20,801
	281	Keio Corp.	9,875
	984	Keisei Electric Railway Co. Ltd.	37,680
	1,098	Kintetsu Group Holdings Co. Ltd.	36,269
	2,317	Komatsu Ltd.	54,594
	1,197	Kubota Corp.	16,509
	402	Kurita Water Industries Ltd.	16,429
	961	Lixil Corp.	12,381
	127	Makita Corp.	3,436
	11,512	Marubeni Corp.	164,133
	404	MINEBEA MITSUMI, Inc.	7,775
	1,345	MISUMI Group, Inc.	29,362
	6,040	Mitsubishi Corp.	241,488
	6,056	Mitsubishi Electric Corp.	78,845
	531	Mitsubishi Heavy Industries Ltd.	22,446
	6,398	Mitsui & Co. Ltd.	201,673
	799	Mitsui OSK Lines Ltd.	18,157
	1,934	MonotaRO Co. Ltd.	26,854
	1,501	NGK Insulators Ltd.	18,081
	528	NIDEC Corp.	26,227
	827	NIPPON EXPRESS HOLDINGS, Inc.	46,347
	2,626	Nippon Yusen KK	55,869
	14,019	Obayashi Corp.	112,782
	801	Odakyu Electric Railway Co. Ltd.	11,650
	2,107	Persol Holdings Co. Ltd.	39,753
	4,822	Recruit Holdings Co. Ltd.	148,061
	593	Secom Co. Ltd.	38,776
	693	SG Holdings Co. Ltd.	10,158

GOLDMAN SACHS ACTIVEBETA^® JAPAN EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	3,254	Shimizu Corp.	$       19,704
	117	SMC Corp.	62,873
	4,434	Sumitomo Corp.	83,672
	1,143	Taisei Corp.	36,282
	1,032	Tobu Railway Co. Ltd.	26,961
	3,056	Tokyu Corp.	39,415
	1,551	TOPPAN, Inc.	33,115
	947	Toshiba Corp.	30,495
	657	TOTO Ltd.	19,915
	177	Toyota Industries Corp.	10,920
	1,717	Toyota Tsusho Corp.	75,456
	819	West Japan Railway Co.	34,240
	651	Yamato Holdings Co. Ltd.	11,896
	571	Yaskawa Electric Corp.	24,113
			2,861,640
	Information Technology – 15.0%
	798	Advantest Corp.	102,295
	628	Azbil Corp.	19,845
	2,792	Brother Industries Ltd.	40,447
	4,559	Canon, Inc.(a)	112,935
	387	Disco Corp.	56,368
	1,152	FUJIFILM Holdings Corp.	70,358
	728	Fujitsu Ltd.	92,332
	803	Hamamatsu Photonics KK	40,864
	193	Hirose Electric Co. Ltd.	26,136
	512	Ibiden Co. Ltd.	27,924
	781	Itochu Techno-Solutions Corp.	20,292
	581	Keyence Corp.	281,944
	942	Kyocera Corp.	53,439
	126	Lasertec Corp.	19,525
	1,773	Murata Manufacturing Co. Ltd.	104,046
	1,617	NEC Corp.	75,807
	1,339	Nomura Research Institute Ltd.	33,639
	1,714	NTT Data Corp.	24,499
	152	Obic Co. Ltd.	24,576
	687	Omron Corp.	41,427
	543	Oracle Corp. Japan	41,508
	658	Otsuka Corp.	24,772
	5,124	Renesas Electronics Corp.*	83,985
	6,482	Ricoh Co. Ltd.	54,096
	123	Rohm Co. Ltd.	10,397
	1,031	SCSK Corp.	16,294

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	3,106	Seiko Epson Corp.	$       47,107
	1,130	Shimadzu Corp.	34,940
	1,619	SUMCO Corp.	23,071
	623	TDK Corp.	23,811
	1,597	TIS, Inc.	44,693
	1,479	Tokyo Electron Ltd.	204,465
	959	Trend Micro, Inc.	45,577
	2,296	Yokogawa Electric Corp.	43,253
			1,966,667
	Materials – 3.8%
	2,662	Asahi Kasei Corp.	18,072
	4,067	JFE Holdings, Inc.	50,185
	120	JSR Corp.	2,890
	9,720	Mitsubishi Chemical Group Corp.	54,494
	301	Mitsui Chemicals, Inc.	7,594
	1,404	Nippon Paint Holdings Co. Ltd.	10,763
	453	Nippon Sanso Holdings Corp.	9,273
	2,565	Nippon Steel Corp.	49,853
	663	Nissan Chemical Corp.	28,757
	452	Nitto Denko Corp.	32,125
	3,463	Oji Holdings Corp.	13,310
	5,545	Shin-Etsu Chemical Co. Ltd.	170,539
	3,982	Sumitomo Chemical Co. Ltd.	11,856
	155	Sumitomo Metal Mining Co. Ltd.	4,693
	4,674	Toray Industries, Inc.	24,662
	1,053	Tosoh Corp.	12,097
			501,163
	Real Estate – 1.7%
	433	Daito Trust Construction Co. Ltd.	41,064
	1,377	Daiwa House Industry Co. Ltd.	35,895
	6	Daiwa House REIT Investment Corp. REIT	12,561
	10	GLP J REIT	10,579
	1,590	Hulic Co. Ltd.	13,235
	16	Japan Metropolitan Fund Invest REIT	11,291
	3	Japan Real Estate Investment Corp. REIT	11,380
	1,197	Mitsubishi Estate Co. Ltd.	13,734
	1,097	Mitsui Fudosan Co. Ltd.	20,905
	3	Nippon Building Fund, Inc. REIT	11,981
	4	Nippon Prologis REIT, Inc. REIT	8,366
	394	Nomura Real Estate Holdings, Inc.	9,518
	10	Nomura Real Estate Master Fund, Inc. REIT	11,731

GOLDMAN SACHS ACTIVEBETA^® JAPAN EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Real Estate – (continued)
	284	Sumitomo Realty & Development Co. Ltd.	$         6,848
			219,088
	Utilities – 1.2%
	1,480	Chubu Electric Power Co., Inc.	17,616
	1,493	Kansai Electric Power Co., Inc. (The)	17,055
	646	Osaka Gas Co. Ltd.	10,214
	5,439	Tokyo Gas Co. Ltd.	115,581
			160,466
	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE (Cost $11,945,991)		$12,967,190
Shares		Dividend Rate	Value
	Securities Lending Reinvestment Vehicle – 3.4%(b)
	Goldman Sachs Financial Square Government Fund – Institutional Shares
	440,597	5.003%	$     440,597
	(Cost $440,597)
	TOTAL INVESTMENTS – 102.3% (Cost $12,386,588)		$13,407,787
	LIABILITIES IN EXCESS OF     OTHER ASSETS – (2.3)%		(300,033)
	NET ASSETS – 100.0%		$13,107,754

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	All or a portion of security is on loan.
(b)	Represents an affiliated issuer.

Investment Abbreviations:
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® JAPAN EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At May 31, 2023, the Portfolio had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount		Unrealized Appreciation/ (Depreciation)
Long position contracts:
E-Mini Topix Index Future	8	06/08/23	$	121,734	$	8,665

GOLDMAN SACHS ACTIVEBETA^® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 99.7%
	Communication Services – 8.6%
	144	Activision Blizzard, Inc.*	$     11,549
	1,447	Alphabet, Inc., Class A*	177,793
	1,425	Alphabet, Inc., Class C*	175,802
	1,824	AT&T, Inc.	28,691
	28	Charter Communications, Inc., Class A*	9,132
	1,293	Comcast Corp., Class A	50,880
	71	Electronic Arts, Inc.	9,088
	152	Interpublic Group of Cos., Inc. (The)	5,653
	569	Meta Platforms, Inc., Class A*	150,626
	61	Netflix, Inc.*	24,109
	142	Omnicom Group, Inc.	12,523
	337	Pinterest, Inc., Class A*	8,068
	63	ROBLOX Corp., Class A*	2,637
	160	T-Mobile US, Inc.*	21,960
	604	Verizon Communications, Inc.	21,521
	88	Walt Disney Co. (The)*	7,740
	2,500	Warner Bros Discovery, Inc.*	28,200
			745,972
	Consumer Discretionary – 8.2%
	23	AutoZone, Inc.*	54,897
	11	Booking Holdings, Inc.*	27,597
	21	Burlington Stores, Inc.*	3,160
	49	Darden Restaurants, Inc.	7,768
	41	Deckers Outdoor Corp.*	19,475
	37	Domino’s Pizza, Inc.	10,724
	114	D.R. Horton, Inc.	12,180
	456	eBay, Inc.	19,398
	199	Etsy, Inc.*	16,129
	110	Expedia Group, Inc.*	10,528
	121	Garmin Ltd.	12,481
	283	Genuine Parts Co.	42,147
	181	Home Depot, Inc. (The)	51,304
	57	Las Vegas Sands Corp.*	3,142
	314	Lennar Corp., Class A	33,636
	334	LKQ Corp.	17,619
	135	Lowe’s Cos., Inc.	27,153
	94	McDonald’s Corp.	26,800
	643	MGM Resorts International	25,263
	279	NIKE, Inc., Class B	29,368
	4	NVR, Inc.*	22,217
	69	O’Reilly Automotive, Inc.*	62,328
	48	Pool Corp.	15,179

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	54	PulteGroup, Inc.	$       3,568
	195	Ross Stores, Inc.	20,206
	161	Starbucks Corp.	15,720
	554	TJX Cos., Inc. (The)	42,542
	117	Tractor Supply Co.	24,522
	108	Ulta Beauty, Inc.*	44,262
	100	Yum! Brands, Inc.	12,869
			714,182
	Consumer Staples – 8.3%
	174	Archer-Daniels-Midland Co.	12,293
	190	Brown-Forman Corp., Class B	11,736
	221	Church & Dwight Co., Inc.	20,431
	133	Clorox Co. (The)	21,038
	758	Coca-Cola Co. (The)	45,222
	306	Colgate-Palmolive Co.	22,760
	331	Conagra Brands, Inc.	11,542
	79	Constellation Brands, Inc., Class A	19,195
	107	Dollar General Corp.	21,517
	119	Dollar Tree, Inc.*	16,051
	122	Estee Lauder Cos., Inc. (The), Class A	22,452
	337	General Mills, Inc.	28,362
	153	Hershey Co. (The)	39,734
	135	Hormel Foods Corp.	5,164
	100	J M Smucker Co. (The)	14,659
	271	Kellogg Co.	18,095
	681	Keurig Dr Pepper, Inc.	21,193
	98	Kimberly-Clark Corp.	13,159
	413	Kraft Heinz Co. (The)	15,785
	120	Lamb Weston Holdings, Inc.	13,344
	88	McCormick & Co., Inc.	7,544
	393	Mondelez International, Inc., Class A	28,850
	548	Monster Beverage Corp.*	32,124
	343	PepsiCo, Inc.	62,546
	483	Procter & Gamble Co. (The)	68,827
	277	Sysco Corp.	19,376
	92	Target Corp.	12,046
	539	Walgreens Boots Alliance, Inc.	16,369
	516	Walmart, Inc.	75,785
			717,199
	Financials – 12.1%
	386	Aflac, Inc.	24,785

GOLDMAN SACHS ACTIVEBETA^® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	22	Allstate Corp. (The)	$       2,386
	155	American Express Co.	24,577
	568	American International Group, Inc.	30,007
	65	Ameriprise Financial, Inc.	19,401
	59	Aon PLC, Class A	18,189
	151	Apollo Global Management, Inc.	10,094
	297	Arch Capital Group Ltd.*	20,701
	39	Ares Management Corp., Class A	3,397
	50	Arthur J Gallagher & Co.	10,017
	1,341	Bank of America Corp.	37,266
	452	Bank of New York Mellon Corp. (The)	18,170
	220	Berkshire Hathaway, Inc., Class B*	70,638
	10	BlackRock, Inc.	6,576
	119	Brown & Brown, Inc.	7,417
	387	Capital One Financial Corp.	40,329
	64	Cboe Global Markets, Inc.	8,475
	205	Charles Schwab Corp. (The)	10,801
	85	Chubb Ltd.	15,793
	677	Citigroup, Inc.	30,005
	152	Citizens Financial Group, Inc.	3,919
	42	CME Group, Inc.	7,508
	191	Discover Financial Services	19,623
	17	Everest Re Group Ltd.	5,780
	6	FactSet Research Systems, Inc.	2,309
	88	Fifth Third Bancorp	2,136
	173	Fiserv, Inc.*	19,409
	46	FleetCor Technologies, Inc.*	10,421
	194	Hartford Financial Services Group, Inc. (The)	13,293
	385	Huntington Bancshares, Inc.	3,969
	56	Intercontinental Exchange, Inc.	5,933
	45	Jack Henry & Associates, Inc.	6,880
	675	JPMorgan Chase & Co.	91,604
	544	KeyCorp	5,081
	36	LPL Financial Holdings, Inc.	7,012
	31	M&T Bank Corp.	3,694
	4	Markel Group, Inc.*	5,259
	14	MarketAxess Holdings, Inc.	3,814
	157	Marsh & McLennan Cos., Inc.	27,189
	169	Mastercard, Inc., Class A	61,688
	256	MetLife, Inc.	12,685
	46	Moody’s Corp.	14,577
	199	Morgan Stanley	16,270
	13	MSCI, Inc.	6,117
	155	Nasdaq, Inc.	8,579

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	37	Northern Trust Corp.	$       2,661
	39	PNC Financial Services Group, Inc. (The)	4,517
	374	Principal Financial Group, Inc.	24,482
	131	Progressive Corp. (The)	16,756
	17	Prudential Financial, Inc.	1,338
	130	Raymond James Financial, Inc.	11,746
	158	Regions Financial Corp.	2,729
	17	S&P Global, Inc.	6,246
	297	State Street Corp.	20,202
	1,175	Synchrony Financial	36,378
	59	T. Rowe Price Group, Inc.	6,322
	89	Travelers Cos., Inc. (The)	15,062
	142	Truist Financial Corp.	4,327
	149	US Bancorp	4,455
	310	Visa, Inc., Class A	68,519
	214	W R Berkley Corp.	11,916
	681	Wells Fargo & Co.	27,111
	57	Willis Towers Watson PLC	12,474
			1,051,014
	Health Care – 18.3%
	385	Abbott Laboratories	39,270
	447	AbbVie, Inc.	61,668
	138	Agilent Technologies, Inc.	15,962
	53	Align Technology, Inc.*	14,981
	86	AmerisourceBergen Corp.	14,633
	98	Amgen, Inc.	21,624
	412	Avantor, Inc.*	8,215
	77	Baxter International, Inc.	3,135
	65	Becton Dickinson & Co.	15,714
	42	Biogen, Inc.*	12,449
	9	BioMarin Pharmaceutical, Inc.*	782
	71	Bio-Techne Corp.	5,807
	440	Boston Scientific Corp.*	22,651
	804	Bristol-Myers Squibb Co.	51,810
	417	Centene Corp.*	26,025
	31	Charles River Laboratories International, Inc.*	5,995
	150	Cigna Group (The)	37,112
	21	Cooper Cos., Inc. (The)	7,802
	711	CVS Health Corp.	48,369
	155	Danaher Corp.	35,591
	93	Dexcom, Inc.*	10,905
	294	Edwards Lifesciences Corp.*	24,764

GOLDMAN SACHS ACTIVEBETA^® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Health Care – (continued)
	83	Elevance Health, Inc.	$     37,169
	238	Eli Lilly & Co.	102,212
	83	GE HealthCare Technologies, Inc.	6,599
	465	Gilead Sciences, Inc.	35,777
	32	HCA Healthcare, Inc.	8,454
	233	Hologic, Inc.*	18,381
	15	Horizon Therapeutics PLC*	1,500
	73	Humana, Inc.	36,637
	65	IDEXX Laboratories, Inc.*	30,210
	4	Illumina, Inc.*	787
	225	Incyte Corp.*	13,849
	25	Insulet Corp.*	6,856
	55	Intuitive Surgical, Inc.*	16,931
	80	IQVIA Holdings, Inc.*	15,753
	650	Johnson & Johnson	100,789
	67	Laboratory Corp. of America Holdings	14,240
	144	Medtronic PLC	11,917
	738	Merck & Co., Inc.	81,483
	25	Mettler-Toledo International, Inc.*	33,047
	200	Moderna, Inc.*	25,542
	12	Molina Healthcare, Inc.*	3,287
	1,798	Pfizer, Inc.	68,360
	155	Quest Diagnostics, Inc.	20,561
	46	Regeneron Pharmaceuticals, Inc.*	33,836
	88	ResMed, Inc.	18,550
	100	Revvity, Inc.	11,532
	467	Royalty Pharma PLC, Class A	15,290
	31	STERIS PLC	6,199
	83	Stryker Corp.	22,873
	6	Teleflex, Inc.	1,409
	96	Thermo Fisher Scientific, Inc.	48,812
	206	UnitedHealth Group, Inc.	100,371
	103	Vertex Pharmaceuticals, Inc.*	33,328
	5,369	Viatris, Inc.	49,126
	82	Waters Corp.*	20,600
	36	West Pharmaceutical Services, Inc.	12,047
	123	Zimmer Biomet Holdings, Inc.	15,663
	139	Zoetis, Inc.	22,658
			1,587,899
	Industrials – 6.8%
	30	3M Co.	2,799
	47	AMETEK, Inc.	6,818

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	45	Automatic Data Processing, Inc.	$       9,405
	36	Axon Enterprise, Inc.*	6,945
	338	Builders FirstSource, Inc.*	39,191
	81	Carlisle Cos., Inc.	17,208
	310	Carrier Global Corp.	12,679
	104	C.H. Robinson Worldwide, Inc.	9,832
	45	Cintas Corp.	21,246
	147	Copart, Inc.*	12,876
	552	CSX Corp.	16,930
	23	Deere & Co.	7,957
	82	Delta Air Lines, Inc.*	2,979
	6	Dover Corp.	800
	159	Expeditors International of Washington, Inc.	17,539
	630	Fastenal Co.	33,925
	55	FedEx Corp.	11,989
	183	General Electric Co.	18,580
	136	Graco, Inc.	10,403
	381	Howmet Aerospace, Inc.	16,288
	66	IDEX Corp.	13,145
	82	Illinois Tool Works, Inc.	17,936
	40	J.B. Hunt Transport Services, Inc.	6,679
	171	Masco Corp.	8,263
	50	Norfolk Southern Corp.	10,409
	60	Old Dominion Freight Line, Inc.	18,626
	307	Otis Worldwide Corp.	24,410
	12	PACCAR, Inc.	825
	84	Parker-Hannifin Corp.	26,917
	76	Paychex, Inc.	7,975
	110	Republic Services, Inc.	15,579
	37	Rockwell Automation, Inc.	10,308
	30	Snap-on, Inc.	7,466
	223	SS&C Technologies Holdings, Inc.	12,256
	142	Uber Technologies, Inc.*	5,386
	53	Union Pacific Corp.	10,204
	527	United Airlines Holdings, Inc.*	25,014
	139	United Parcel Service, Inc., Class B	23,213
	33	United Rentals, Inc.	11,015
	10	Verisk Analytics, Inc.	2,191
	99	Waste Management, Inc.	16,030
	11	Westinghouse Air Brake Technologies Corp.	1,019
	41	W.W. Grainger, Inc.	26,610
	82	Xylem, Inc.	8,216
			586,081

GOLDMAN SACHS ACTIVEBETA^® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – 32.2%
	185	Accenture PLC, Class A	$     56,595
	103	Adobe, Inc.*	43,032
	391	Advanced Micro Devices, Inc.*	46,220
	207	Akamai Technologies, Inc.*	19,069
	260	Amphenol Corp., Class A	19,617
	135	Analog Devices, Inc.	23,988
	6	ANSYS, Inc.*	1,942
	3,898	Apple, Inc.	690,920
	394	Applied Materials, Inc.	52,520
	168	Arista Networks, Inc.*	27,945
	63	Atlassian Corp., Class A*	11,390
	33	Autodesk, Inc.*	6,580
	86	Broadcom, Inc.	69,485
	114	Cadence Design Systems, Inc.*	26,324
	74	CDW Corp.	12,705
	1,293	Cisco Systems, Inc.	64,223
	406	Cognizant Technology Solutions Corp., Class A	25,371
	170	Corning, Inc.	5,238
	51	Enphase Energy, Inc.*	8,868
	6	EPAM Systems, Inc.*	1,540
	27	Fair Isaac Corp.*	21,267
	57	First Solar, Inc.*	11,569
	272	Fortinet, Inc.*	18,586
	85	Gartner, Inc.*	29,143
	283	Gen Digital, Inc.	4,964
	125	GoDaddy, Inc., Class A*	9,173
	1,115	Hewlett Packard Enterprise Co.	16,078
	19	HubSpot, Inc.*	9,842
	533	Intel Corp.	16,758
	275	International Business Machines Corp.	35,362
	67	Intuit, Inc.	28,081
	193	Keysight Technologies, Inc.*	31,227
	74	KLA Corp.	32,781
	67	Lam Research Corp.	41,319
	197	Lattice Semiconductor Corp.*	16,018
	223	Marvell Technology, Inc.	13,043
	305	Microchip Technology, Inc.	22,954
	114	Micron Technology, Inc.	7,775
	1,839	Microsoft Corp.	603,909
	32	Monolithic Power Systems, Inc.	15,677
	120	Motorola Solutions, Inc.	33,830
	375	NetApp, Inc.	24,881
	544	NVIDIA Corp.	205,817

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	370	ON Semiconductor Corp.*	$     30,932
	248	Oracle Corp.	26,273
	49	Palo Alto Networks, Inc.*	10,456
	23	PTC, Inc.*	3,091
	407	QUALCOMM, Inc.	46,158
	12	Roper Technologies, Inc.	5,451
	168	Salesforce, Inc.*	37,528
	18	ServiceNow, Inc.*	9,806
	189	Skyworks Solutions, Inc.	19,563
	10	Splunk, Inc.*	993
	33	Synopsys, Inc.*	15,014
	2	Teledyne Technologies, Inc.*	777
	267	Teradyne, Inc.	26,751
	244	Texas Instruments, Inc.	42,427
	193	Trimble, Inc.*	9,007
	89	VeriSign, Inc.*	19,875
	76	VMware, Inc., Class A*	10,358
	33	Zebra Technologies Corp., Class A*	8,665
	113	Zoom Video Communications, Inc., Class A*	7,586
			2,794,337
	Materials – 1.5%
	32	Air Products and Chemicals, Inc.	8,612
	19	Albemarle Corp.	3,677
	31	Avery Dennison Corp.	4,995
	228	Corteva, Inc.	12,196
	58	DuPont de Nemours, Inc.	3,897
	37	Ecolab, Inc.	6,107
	60	FMC Corp.	6,245
	142	Freeport-McMoRan, Inc.	4,876
	60	Linde PLC	21,220
	211	Mosaic Co. (The)	6,743
	101	Nucor Corp.	13,338
	34	Packaging Corp. of America	4,217
	12	PPG Industries, Inc.	1,575
	49	RPM International, Inc.	3,910
	54	Sherwin-Williams Co. (The)	12,300
	113	Steel Dynamics, Inc.	10,385
	18	Vulcan Materials Co.	3,519
			127,812
	Real Estate – 3.3%
	69	Alexandria Real Estate Equities, Inc. REIT	7,829

GOLDMAN SACHS ACTIVEBETA^® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Real Estate – (continued)
	30	American Tower Corp. REIT	$       5,533
	58	AvalonBay Communities, Inc. REIT	10,091
	167	Camden Property Trust REIT	17,446
	29	Crown Castle, Inc. REIT	3,283
	20	Digital Realty Trust, Inc. REIT	2,049
	10	Equinix, Inc. REIT	7,455
	68	Equity LifeStyle Properties, Inc. REIT	4,296
	158	Equity Residential REIT	9,606
	51	Essex Property Trust, Inc. REIT	11,019
	21	Extra Space Storage, Inc. REIT	3,030
	260	Gaming and Leisure Properties, Inc. REIT	12,516
	366	Healthpeak Properties, Inc. REIT	7,305
	1,426	Host Hotels & Resorts, Inc. REIT	23,672
	147	Invitation Homes, Inc. REIT	4,980
	150	Iron Mountain, Inc. REIT	8,013
	678	Kimco Realty Corp. REIT	12,462
	76	Mid-America Apartment Communities, Inc. REIT	11,177
	63	Prologis, Inc. REIT	7,847
	19	Public Storage REIT	5,383
	211	Realty Income Corp. REIT	12,542
	11	SBA Communications Corp. REIT	2,440
	87	Simon Property Group, Inc. REIT	9,148
	134	Sun Communities, Inc. REIT	16,968
	180	UDR, Inc. REIT	7,141
	258	Ventas, Inc. REIT	11,130
	690	VICI Properties, Inc. REIT	21,342
	86	Welltower, Inc. REIT	6,416
	394	Weyerhaeuser Co. REIT	11,292
	147	W.P. Carey, Inc. REIT	10,196
			283,607
	Utilities – 0.4%
	10	American Water Works Co., Inc.	1,445
	179	Edison International	12,086

Shares		Description	Value
	Common Stocks – (continued)
	Utilities – (continued)
	285	NextEra Energy, Inc.	$     20,936
			34,467
	TOTAL INVESTMENTS – 99.7% (Cost $8,847,412)		$8,642,570
	OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.3%		23,555
	NET ASSETS – 100.0%		$8,666,125

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.

Investment Abbreviations:
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 99.8%
	Communication Services – 7.7%
	145,316	Activision Blizzard, Inc.*	$       11,654,343
	1,587,051	Alphabet, Inc., Class A*	195,000,956
	1,498,177	Alphabet, Inc., Class C*	184,830,096
	1,621,706	AT&T, Inc.	25,509,435
	33,273	Charter Communications, Inc., Class A*	10,851,989
	1,416,619	Comcast Corp., Class A	55,743,958
	164,489	Electronic Arts, Inc.	21,054,592
	204,948	Interpublic Group of Cos., Inc. (The)	7,622,016
	668,029	Meta Platforms, Inc., Class A*	176,840,637
	57,929	Netflix, Inc.*	22,895,279
	154,031	Omnicom Group, Inc.	13,583,994
	375,139	Pinterest, Inc., Class A*	8,980,828
	158,126	T-Mobile US, Inc.*	21,702,794
	702,869	Verizon Communications, Inc.	25,043,222
	126,541	Walt Disney Co. (The)*	11,130,546
	2,938,157	Warner Bros Discovery, Inc.*	33,142,411
			825,587,096
	Consumer Discretionary – 11.5%
	2,262,072	Amazon.com, Inc.*	272,760,642
	25,807	AutoZone, Inc.*	61,597,180
	329,081	Best Buy Co., Inc.	23,914,316
	11,713	Booking Holdings, Inc.*	29,385,223
	15,066	Burlington Stores, Inc.*	2,266,830
	2,293	Chipotle Mexican Grill, Inc.*	4,761,392
	78,589	Darden Restaurants, Inc.	12,457,928
	34,346	Deckers Outdoor Corp.*	16,314,350
	78,608	Domino’s Pizza, Inc.	22,784,529
	69,835	D.R. Horton, Inc.	7,461,171
	395,058	eBay, Inc.	16,805,767
	103,463	Etsy, Inc.*	8,385,676
	186,065	Expedia Group, Inc.*	17,808,281
	398,531	Ford Motor Co.	4,782,372
	111,295	Garmin Ltd.	11,480,079
	184,838	Genuine Parts Co.	27,527,923
	27,700	Hilton Worldwide Holdings, Inc.	3,770,524
	337,276	Home Depot, Inc. (The)	95,600,882
	83,212	Las Vegas Sands Corp.*	4,587,478
	367,978	Lennar Corp., Class A	39,417,803
	283,440	LKQ Corp.	14,951,460
	317,441	Lowe’s Cos., Inc.	63,846,908
	36,021	Marriott International, Inc., Class A	6,043,964
	156,364	McDonald’s Corp.	44,580,940

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	588,918	MGM Resorts International	$       23,138,588
	348,700	NIKE, Inc., Class B	36,704,162
	1,526	NVR, Inc.*	8,475,740
	68,908	O’Reilly Automotive, Inc.*	62,245,286
	51,958	Pool Corp.	16,430,678
	148,071	PulteGroup, Inc.	9,784,532
	91,516	Ross Stores, Inc.	9,482,888
	194,394	Starbucks Corp.	18,980,630
	2,556,115	Stellantis NV	39,108,560
	417,997	Tesla, Inc.*	85,242,128
	348,772	TJX Cos., Inc. (The)	26,782,202
	154,467	Tractor Supply Co.	32,374,739
	64,997	Ulta Beauty, Inc.*	26,637,721
	231,780	Yum! Brands, Inc.	29,827,768
			1,238,509,240
	Consumer Staples – 9.2%
	493,836	Altria Group, Inc.	21,936,195
	431,683	Archer-Daniels-Midland Co.	30,498,404
	222,834	Brown-Forman Corp., Class B	13,764,456
	65,520	Bunge Ltd.	6,069,773
	157,980	Church & Dwight Co., Inc.	14,605,251
	146,780	Clorox Co. (The)	23,217,660
	680,952	Coca-Cola Co. (The)	40,625,596
	390,611	Colgate-Palmolive Co.	29,053,646
	385,350	Conagra Brands, Inc.	13,437,155
	53,045	Constellation Brands, Inc., Class A	12,888,344
	152,405	Costco Wholesale Corp.	77,964,302
	120,203	Dollar General Corp.	24,171,621
	151,981	Dollar Tree, Inc.*	20,499,197
	126,697	Estee Lauder Cos., Inc. (The), Class A	23,316,049
	237,090	General Mills, Inc.	19,953,494
	158,455	Hershey Co. (The)	41,150,764
	205,142	Hormel Foods Corp.	7,846,682
	92,392	J M Smucker Co. (The)	13,543,743
	174,541	Kellogg Co.	11,654,103
	581,902	Keurig Dr Pepper, Inc.	18,108,790
	160,048	Kimberly-Clark Corp.	21,491,246
	547,613	Kraft Heinz Co. (The)	20,929,769
	1,244,107	Kroger Co. (The)	56,395,370
	128,112	Lamb Weston Holdings, Inc.	14,246,054
	95,621	McCormick & Co., Inc.	8,197,588
	272,475	Mondelez International, Inc., Class A	20,002,390

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Staples – (continued)
	453,523	Monster Beverage Corp.*	$       26,585,518
	386,569	PepsiCo, Inc.	70,490,857
	484,473	Philip Morris International, Inc.	43,607,415
	528,042	Procter & Gamble Co. (The)	75,245,985
	272,659	Sysco Corp.	19,072,497
	188,088	Target Corp.	24,626,362
	328,420	Tyson Foods, Inc., Class A	16,631,189
	645,149	Walgreens Boots Alliance, Inc.	19,593,175
	593,301	Walmart, Inc.	87,138,118
			988,558,758
	Energy – 3.6%
	238,766	APA Corp.	7,587,983
	64,145	Cheniere Energy, Inc.	8,965,547
	316,965	Chevron Corp.	47,741,268
	207,706	ConocoPhillips	20,625,206
	242,744	Coterra Energy, Inc.	5,643,798
	268,416	Devon Energy Corp.	12,373,978
	74,213	Diamondback Energy, Inc.	9,436,183
	123,611	EOG Resources, Inc.	13,262,224
	331,501	EQT Corp.	11,526,290
	894,431	Exxon Mobil Corp.	91,392,960
	64,107	Hess Corp.	8,120,434
	525,313	Kinder Morgan, Inc.	8,462,792
	350,612	Marathon Oil Corp.	7,769,562
	281,346	Marathon Petroleum Corp.	29,516,009
	284,591	Occidental Petroleum Corp.	16,409,517
	129,779	ONEOK, Inc.	7,353,278
	210,555	Phillips 66	19,288,943
	54,114	Pioneer Natural Resources Co.	10,792,496
	151,296	Schlumberger NV	6,480,008
	43,015	Targa Resources Corp.	2,927,171
	4,446	Texas Pacific Land Corp.	5,796,250
	280,202	Valero Energy Corp.	29,992,822
	266,986	Williams Cos., Inc. (The)	7,651,819
			389,116,538
	Financials – 9.8%
	233,600	Aflac, Inc.	14,999,456
	53,234	Allstate Corp. (The)	5,773,227
	111,394	American Express Co.	17,662,633
	495,554	American International Group, Inc.	26,180,118
	57,131	Ameriprise Financial, Inc.	17,051,890

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	67,936	Aon PLC, Class A	$       20,943,989
	192,020	Apollo Global Management, Inc.	12,836,537
	260,647	Arch Capital Group Ltd.*	18,167,096
	57,129	Ares Management Corp., Class A	4,975,365
	106,783	Arthur J Gallagher & Co.	21,391,838
	1,272,626	Bank of America Corp.	35,366,277
	466,794	Bank of New York Mellon Corp. (The)	18,765,119
	204,853	Berkshire Hathaway, Inc., Class B*	65,774,201
	14,997	BlackRock, Inc.	9,861,277
	94,189	Brown & Brown, Inc.	5,870,800
	376,117	Capital One Financial Corp.	39,195,153
	73,054	Cboe Global Markets, Inc.	9,673,811
	245,573	Charles Schwab Corp. (The)	12,939,241
	75,113	Chubb Ltd.	13,955,995
	30,303	Cincinnati Financial Corp.	2,924,240
	683,250	Citigroup, Inc.	30,281,640
	272,437	Citizens Financial Group, Inc.	7,023,426
	56,073	CME Group, Inc.	10,023,049
	138,907	Discover Financial Services	14,271,305
	14,072	Everest Re Group Ltd.	4,784,761
	28,891	FactSet Research Systems, Inc.	11,119,857
	170,314	Fiserv, Inc.*	19,107,528
	27,456	FleetCor Technologies, Inc.*	6,220,157
	181,877	Hartford Financial Services Group, Inc. (The)	12,462,212
	91,871	Intercontinental Exchange, Inc.	9,733,732
	69,348	Jack Henry & Associates, Inc.	10,602,616
	621,491	JPMorgan Chase & Co.	84,342,544
	281,718	KeyCorp	2,631,246
	41,884	LPL Financial Holdings, Inc.	8,158,166
	28,702	M&T Bank Corp.	3,420,130
	6,551	Markel Group, Inc.*	8,612,796
	17,863	MarketAxess Holdings, Inc.	4,866,060
	169,669	Marsh & McLennan Cos., Inc.	29,383,277
	177,524	Mastercard, Inc., Class A	64,799,810
	156,846	MetLife, Inc.	7,771,719
	86,954	Moody’s Corp.	27,553,984
	143,382	Morgan Stanley	11,722,912
	15,843	MSCI, Inc.	7,454,607
	149,720	Nasdaq, Inc.	8,287,002
	29,240	Northern Trust Corp.	2,102,941
	44,015	PNC Financial Services Group, Inc. (The)	5,098,257
	328,153	Principal Financial Group, Inc.	21,480,895
	202,484	Progressive Corp. (The)	25,899,728

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	90,384	Prudential Financial, Inc.	$         7,112,317
	113,136	Raymond James Financial, Inc.	10,221,838
	189,212	Regions Financial Corp.	3,267,691
	28,362	S&P Global, Inc.	10,421,050
	240,524	State Street Corp.	16,360,442
	1,190,400	Synchrony Financial	36,854,784
	85,392	Travelers Cos., Inc. (The)	14,451,742
	86,427	Truist Financial Corp.	2,633,431
	147,592	US Bancorp	4,413,001
	335,796	Visa, Inc.	74,220,990
	136,509	W R Berkley Corp.	7,600,821
	633,092	Wells Fargo & Co.	25,203,393
	48,199	Willis Towers Watson PLC	10,548,351
			1,056,834,471
	Health Care – 14.6%
	330,968	Abbott Laboratories	33,758,736
	478,172	AbbVie, Inc.	65,968,609
	124,305	Agilent Technologies, Inc.	14,378,359
	38,267	Align Technology, Inc.*	10,816,550
	16,056	Alnylam Pharmaceuticals, Inc.*	2,970,521
	97,437	AmerisourceBergen Corp.	16,578,906
	164,838	Amgen, Inc.	36,371,505
	160,547	Avantor, Inc.*	3,201,307
	82,085	Baxter International, Inc.	3,342,501
	40,105	Becton Dickinson & Co.	9,695,785
	65,560	Biogen, Inc.*	19,432,640
	355,568	Boston Scientific Corp.*	18,304,641
	713,896	Bristol-Myers Squibb Co.	46,003,458
	203,089	Cardinal Health, Inc.	16,714,225
	512,160	Centene Corp.*	31,963,906
	20,206	Charles River Laboratories International, Inc.*	3,907,436
	181,097	Cigna Group (The)	44,805,209
	14,124	Cooper Cos., Inc. (The)	5,247,490
	697,575	CVS Health Corp.	47,456,027
	131,223	Danaher Corp.	30,131,425
	85,373	Dexcom, Inc.*	10,010,838
	313,985	Edwards Lifesciences Corp.*	26,446,957
	81,142	Elevance Health, Inc.	36,337,010
	255,122	Eli Lilly & Co.	109,564,694
	61,232	GE HealthCare Technologies, Inc.	4,868,556
	399,177	Gilead Sciences, Inc.	30,712,678
	20,079	HCA Healthcare, Inc.	5,304,671

Shares		Description	Value
	Common Stocks – (continued)
	Health Care – (continued)
	161,677	Hologic, Inc.*	$       12,754,699
	31,344	Horizon Therapeutics PLC*	3,135,340
	60,383	Humana, Inc.	30,304,416
	68,249	IDEXX Laboratories, Inc.*	31,720,088
	205,627	Incyte Corp.*	12,656,342
	31,008	Insulet Corp.*	8,503,944
	51,284	Intuitive Surgical, Inc.*	15,787,267
	58,493	IQVIA Holdings, Inc.*	11,517,857
	682,364	Johnson & Johnson	105,807,362
	75,577	Laboratory Corp. of America Holdings	16,062,380
	57,438	McKesson Corp.	22,449,068
	124,889	Medtronic PLC	10,335,814
	673,254	Merck & Co., Inc.	74,333,974
	24,878	Mettler-Toledo International, Inc.*	32,885,482
	173,570	Moderna, Inc.*	22,166,625
	24,951	Molina Healthcare, Inc.*	6,834,079
	1,167,021	Pfizer, Inc.	44,370,138
	104,303	Quest Diagnostics, Inc.	13,835,793
	44,060	Regeneron Pharmaceuticals, Inc.*	32,408,774
	58,527	ResMed, Inc.	12,336,906
	91,303	Revvity, Inc.	10,529,062
	207,711	Royalty Pharma PLC, Class A	6,800,458
	90,145	Seagen, Inc.*	17,641,376
	27,090	STERIS PLC	5,417,187
	66,248	Stryker Corp.	18,256,624
	89,792	Thermo Fisher Scientific, Inc.	45,655,640
	232,723	UnitedHealth Group, Inc.	113,391,954
	36,719	Veeva Systems, Inc., Class A*	6,084,338
	101,950	Vertex Pharmaceuticals, Inc.*	32,987,961
	5,316,381	Viatris, Inc.	48,644,886
	55,181	Waters Corp.*	13,862,571
	42,575	West Pharmaceutical Services, Inc.	14,246,872
	54,971	Zimmer Biomet Holdings, Inc.	7,000,007
	147,312	Zoetis, Inc.	24,013,329
			1,569,033,253
	Industrials – 9.3%
	143,686	3M Co.	13,407,341
	106,154	AMETEK, Inc.	15,399,761
	54,804	Automatic Data Processing, Inc.	11,453,488
	33,862	Axon Enterprise, Inc.*	6,532,318
	65,457	Boeing Co. (The)*	13,464,505
	123,774	Booz Allen Hamilton Holding Corp.	12,449,189

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	50,565	Broadridge Financial Solutions, Inc.	$         7,418,897
	522,903	Builders FirstSource, Inc.*	60,630,603
	36,071	Carlisle Cos., Inc.	7,662,923
	323,907	Carrier Global Corp.	13,247,796
	65,313	Caterpillar, Inc.	13,438,150
	95,638	C.H. Robinson Worldwide, Inc.	9,041,616
	63,423	Cintas Corp.	29,944,535
	148,383	Copart, Inc.*	12,996,867
	231,758	CSX Corp.	7,108,018
	74,182	Cummins, Inc.	15,163,543
	39,604	Deere & Co.	13,702,192
	72,243	Dover Corp.	9,632,159
	79,792	Eaton Corp. PLC	14,035,413
	131,646	Emerson Electric Co.	10,226,261
	111,684	Expeditors International of Washington, Inc.	12,319,862
	670,855	Fastenal Co.	36,125,542
	60,270	FedEx Corp.	13,137,655
	136,809	Fortive Corp.	8,907,634
	101,178	General Dynamics Corp.	20,658,524
	249,579	General Electric Co.	25,339,756
	104,781	Graco, Inc.	8,014,699
	107,826	Honeywell International, Inc.	20,659,462
	256,783	Howmet Aerospace, Inc.	10,977,473
	49,019	Hubbell, Inc.	13,845,907
	48,442	IDEX Corp.	9,647,709
	103,443	Illinois Tool Works, Inc.	22,626,087
	128,794	Ingersoll Rand, Inc.	7,297,468
	55,613	Jacobs Solutions, Inc.	6,095,185
	17,645	J.B. Hunt Transport Services, Inc.	2,946,186
	124,946	Johnson Controls International PLC	7,459,276
	74,842	L3Harris Technologies, Inc.	13,166,205
	195,564	Leidos Holdings, Inc.	15,265,726
	62,792	Lockheed Martin Corp.	27,880,276
	220,812	Masco Corp.	10,669,636
	29,879	Norfolk Southern Corp.	6,220,210
	36,374	Northrop Grumman Corp.	15,840,513
	48,235	Old Dominion Freight Line, Inc.	14,974,073
	103,119	Otis Worldwide Corp.	8,198,992
	184,994	PACCAR, Inc.	12,723,887
	57,602	Parker-Hannifin Corp.	18,457,985
	133,182	Paychex, Inc.	13,974,787
	59,982	Quanta Services, Inc.	10,651,604
	249,629	Raytheon Technologies Corp.	23,000,816

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	135,528	Republic Services, Inc.	$       19,194,831
	30,131	Rockwell Automation, Inc.	8,394,497
	27,547	Snap-on, Inc.	6,855,346
	439,618	SS&C Technologies Holdings, Inc.	24,161,405
	512,552	Textron, Inc.	31,711,592
	66,209	Trane Technologies PLC	10,807,295
	10,121	TransDigm Group, Inc.	7,830,112
	55,339	Union Pacific Corp.	10,653,864
	698,204	United Airlines Holdings, Inc.*	33,140,253
	139,048	United Parcel Service, Inc., Class B	23,221,016
	12,682	United Rentals, Inc.	4,233,125
	41,765	Verisk Analytics, Inc.	9,151,129
	115,645	Waste Management, Inc.	18,725,238
	281,161	Westinghouse Air Brake Technologies Corp.	26,043,943
	72,617	W.W. Grainger, Inc.	47,129,885
	73,686	Xylem, Inc.	7,383,337
			1,002,675,578
	Information Technology – 27.6%
	262,257	Accenture PLC, Class A	80,229,661
	144,447	Adobe, Inc.*	60,348,512
	327,181	Advanced Micro Devices, Inc.*	38,676,066
	137,149	Akamai Technologies, Inc.*	12,634,166
	167,738	Amphenol Corp., Class A	12,655,832
	116,292	Analog Devices, Inc.	20,663,926
	14,359	ANSYS, Inc.*	4,646,429
	4,117,029	Apple, Inc.	729,743,390
	318,718	Applied Materials, Inc.	42,485,109
	102,146	Arista Networks, Inc.*	16,990,966
	85,546	Atlassian Corp., Class A*	15,465,861
	105,202	Autodesk, Inc.*	20,976,227
	98,273	Broadcom, Inc.	79,400,653
	242,241	Cadence Design Systems, Inc.*	55,935,869
	47,322	CDW Corp.	8,124,714
	1,031,044	Cisco Systems, Inc.	51,211,956
	319,418	Cognizant Technology Solutions Corp., Class A	19,960,431
	156,567	Corning, Inc.	4,823,829
	25,919	Crowdstrike Holdings, Inc., Class A*	4,150,410
	48,946	Datadog, Inc., Class A*	4,645,465
	45,672	Enphase Energy, Inc.*	7,941,447
	25,594	EPAM Systems, Inc.*	6,567,932
	26,512	Fair Isaac Corp.*	20,882,707

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	51,384	First Solar, Inc.*	$       10,428,897
	549,171	Fortinet, Inc.*	37,524,854
	70,920	Gartner, Inc.*	24,315,631
	255,642	Gen Digital, Inc.	4,483,961
	58,605	GoDaddy, Inc., Class A*	4,300,435
	1,531,434	Hewlett Packard Enterprise Co.	22,083,278
	407,729	HP, Inc.	11,848,605
	28,605	HubSpot, Inc.*	14,817,104
	605,326	Intel Corp.	19,031,449
	308,444	International Business Machines Corp.	39,662,814
	71,181	Intuit, Inc.	29,833,381
	84,034	Keysight Technologies, Inc.*	13,596,701
	46,806	KLA Corp.	20,734,590
	68,619	Lam Research Corp.	42,317,337
	190,209	Lattice Semiconductor Corp.*	15,465,894
	55,353	Marvell Technology, Inc.	3,237,597
	156,038	Microchip Technology, Inc.	11,743,420
	139,575	Micron Technology, Inc.	9,519,015
	1,973,649	Microsoft Corp.	648,126,595
	17,203	Monolithic Power Systems, Inc.	8,427,922
	93,769	Motorola Solutions, Inc.	26,435,357
	187,947	NetApp, Inc.	12,470,283
	577,246	NVIDIA Corp.	218,395,252
	284,462	ON Semiconductor Corp.*	23,781,023
	262,701	Oracle Corp.	27,830,544
	113,764	Palo Alto Networks, Inc.*	24,276,100
	249,775	QUALCOMM, Inc.	28,326,983
	23,243	Roper Technologies, Inc.	10,557,436
	201,198	Salesforce, Inc.*	44,943,609
	77,082	Seagate Technology Holdings PLC	4,632,628
	54,398	ServiceNow, Inc.*	29,634,942
	134,510	Skyworks Solutions, Inc.	13,923,130
	40,872	Splunk, Inc.*	4,058,181
	104,330	Synopsys, Inc.*	47,465,977
	23,267	Teledyne Technologies, Inc.*	9,042,720
	142,107	Teradyne, Inc.	14,237,700
	276,095	Texas Instruments, Inc.	48,007,399
	87,399	Trimble, Inc.*	4,078,911
	8,880	Tyler Technologies, Inc.*	3,525,005
	108,451	VeriSign, Inc.*	24,219,277
	100,439	VMware, Inc., Class A*	13,688,831
	209,481	Western Digital Corp.*	8,113,199
	35,146	Workday, Inc., Class A*	7,450,601

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	20,983	Zebra Technologies Corp., Class A*	$         5,509,506
	105,910	Zoom Video Communications, Inc., Class A*	7,109,738
			2,972,375,370
	Materials – 1.8%
	40,176	Air Products and Chemicals, Inc.	10,812,969
	22,692	Albemarle Corp.	4,391,583
	31,034	Avery Dennison Corp.	5,000,508
	82,475	CF Industries Holdings, Inc.	5,073,037
	208,507	Corteva, Inc.	11,153,039
	243,405	Dow, Inc.	11,873,296
	45,132	DuPont de Nemours, Inc.	3,032,419
	29,626	Ecolab, Inc.	4,889,771
	41,172	FMC Corp.	4,285,182
	152,042	International Paper Co.	4,476,116
	64,864	Linde PLC	22,939,802
	35,131	LyondellBasell Industries NV, Class A	3,005,106
	9,799	Martin Marietta Materials, Inc.	3,900,394
	335,409	Mosaic Co. (The)	10,719,672
	256,997	Nucor Corp.	33,939,024
	19,177	Packaging Corp. of America	2,378,523
	42,946	PPG Industries, Inc.	5,638,380
	31,223	Reliance Steel & Aluminum Co.	7,327,414
	68,339	RPM International, Inc.	5,452,769
	83,335	Sherwin-Williams Co. (The)	18,982,046
	156,094	Steel Dynamics, Inc.	14,345,039
			193,616,089
	Real Estate – 1.9%
	41,077	Alexandria Real Estate Equities, Inc. REIT	4,660,596
	32,665	American Tower Corp. REIT	6,024,733
	40,501	AvalonBay Communities, Inc. REIT	7,046,364
	97,063	Camden Property Trust REIT	10,140,172
	157,628	CBRE Group, Inc., Class A*	11,809,490
	47,599	Crown Castle, Inc. REIT	5,388,683
	8,097	Equinix, Inc. REIT	6,036,718
	36,812	Equity LifeStyle Properties, Inc. REIT	2,325,414
	124,373	Equity Residential REIT	7,561,878
	31,462	Essex Property Trust, Inc. REIT	6,797,680
	202,147	Gaming and Leisure Properties, Inc. REIT	9,731,357
	146,152	Healthpeak Properties, Inc. REIT	2,917,194
	1,177,048	Host Hotels & Resorts, Inc. REIT	19,538,997
	159,835	Invitation Homes, Inc. REIT	5,415,210

GOLDMAN SACHS ACTIVEBETA^® U.S. LARGE CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Real Estate – (continued)
	92,632	Iron Mountain, Inc. REIT	$         4,948,401
	46,984	Mid-America Apartment Communities, Inc. REIT	6,909,467
	47,137	Prologis, Inc. REIT	5,870,913
	23,106	Public Storage REIT	6,545,930
	156,791	Realty Income Corp. REIT	9,319,657
	12,245	SBA Communications Corp. REIT	2,715,696
	32,585	Simon Property Group, Inc. REIT	3,426,313
	92,528	Sun Communities, Inc. REIT	11,716,821
	160,326	UDR, Inc. REIT	6,360,132
	142,007	Ventas, Inc. REIT	6,126,182
	412,872	VICI Properties, Inc. REIT	12,770,131
	73,618	Welltower, Inc. REIT	5,492,639
	425,735	Weyerhaeuser Co. REIT	12,201,565
	126,454	W.P. Carey, Inc. REIT	8,770,849
			208,569,182
	Utilities – 2.8%
	422,026	AES Corp. (The)	8,330,793
	184,686	Alliant Energy Corp.	9,503,942
	129,325	Ameren Corp.	10,484,378
	153,710	American Electric Power Co., Inc.	12,776,375
	43,321	American Water Works Co., Inc.	6,257,718
	92,430	Atmos Energy Corp.	10,655,330
	394,978	CenterPoint Energy, Inc.	11,142,329
	123,177	CMS Energy Corp.	7,141,803
	177,436	Consolidated Edison, Inc.	16,554,779
	131,500	Constellation Energy Corp.	11,048,630
	159,004	Dominion Energy, Inc.	7,994,721
	88,569	DTE Energy Co.	9,530,024
	148,582	Duke Energy Corp.	13,266,887
	199,670	Edison International	13,481,718
	81,390	Entergy Corp.	7,992,498
	189,292	Evergy, Inc.	10,950,542
	90,317	Eversource Energy	6,252,646
	440,749	Exelon Corp.	17,475,698
	276,111	FirstEnergy Corp.	10,323,790
	275,450	NextEra Energy, Inc.	20,234,557
	143,454	NiSource, Inc.	3,857,478
	514,670	PG&E Corp.*	8,718,510
	231,135	PPL Corp.	6,055,737
	163,902	Public Service Enterprise Group, Inc.	9,793,145
	105,323	Sempra Energy	15,117,010

Shares		Description	Value
	Common Stocks – (continued)
	Utilities – (continued)
	249,342	Southern Co. (The)	$       17,391,605
	86,777	WEC Energy Group, Inc.	7,579,971
	163,734	Xcel Energy, Inc.	10,690,193
			300,602,807
	TOTAL INVESTMENTS – 99.8% (Cost $8,527,104,502)		$10,745,478,382
	OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.2%		20,230,059
	NET ASSETS – 100.0%		$10,765,708,441

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.

Investment Abbreviations:
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 99.0%
	Communication Services – 2.3%
	5,330	AMC Networks, Inc., Class A*	$         60,282
	9,798	Arena Group Holdings, Inc. (The)*	41,152
	4,768	Bumble, Inc., Class A*	72,950
	22,185	Cargurus, Inc.*	416,856
	26,572	Cars.com, Inc.*	468,996
	10,477	Cinemark Holdings, Inc.*	167,737
	7,757	Cogent Communications Holdings, Inc.	477,211
	7,424	Consolidated Communications Holdings, Inc.*	27,098
	31,265	DHI Group, Inc.*	114,430
	13,579	EchoStar Corp., Class A*	214,141
	18,251	EverQuote, Inc., Class A*	166,267
	18,486	EW Scripps Co. (The), Class A*	145,670
	85,777	Gannett Co., Inc.*	190,425
	1,135	Globalstar, Inc.*	1,294
	15,129	Gogo, Inc.*	227,691
	19,167	Gray Television, Inc.	134,744
	13,665	IDT Corp., Class B*	415,279
	22,488	iHeartMedia, Inc., Class A*	53,296
	10,625	Iridium Communications, Inc.	637,925
	12,698	John Wiley & Sons, Inc., Class A	457,128
	1,534	Liberty Latin America Ltd., Class A (Puerto Rico) *	11,229
	35,607	Liberty Latin America Ltd., Class C (Puerto Rico) *	259,931
	4,764	Liberty Media Corp.-Liberty Braves, Class A*(a)	178,031
	4,434	Liberty Media Corp.-Liberty Braves, Class C*	162,639
	14,915	Magnite, Inc.*	177,190
	9,064	Marcus Corp. (The)	138,498
	20,741	Ooma, Inc.*	276,270
	28,667	Playstudios, Inc.*	129,861
	12,060	QuinStreet, Inc.*	111,193
	5,994	Radius Global Infrastructure, Inc., Class A*	88,711
	12,208	Scholastic Corp.	518,596
	7,546	Shutterstock, Inc.	375,564
	7,624	Sinclair Broadcast Group, Inc., Class A(a)	117,257
	25,618	Stagwell, Inc.*	158,832
	39,926	TEGNA, Inc.	618,454
	14,350	Telephone and Data Systems, Inc.	95,858
	11,853	Thryv Holdings, Inc.*	276,175
	84,504	TrueCar, Inc.*	190,979
	9,481	United States Cellular Corp.*	135,578
	21,520	Yelp, Inc.*	720,920

Shares		Description	Value
	Common Stocks – (continued)
	Communication Services – (continued)
	6,348	Ziff Davis, Inc.*	$       374,786
	7,859	ZipRecruiter, Inc., Class A*	121,579
			9,728,703
	Consumer Discretionary – 11.3%
	20,271	1-800-Flowers.com, Inc., Class A*	164,601
	19,762	2U, Inc.*	79,048
	19,490	Aaron’s Co., Inc. (The)	238,558
	17,571	Abercrombie & Fitch Co., Class A*	545,228
	12,843	Academy Sports & Outdoors, Inc.	628,793
	9,901	Acushnet Holdings Corp.	443,169
	13,334	Adient PLC*	449,222
	11,977	Adtalem Global Education, Inc.*	497,045
	35,256	American Axle & Manufacturing Holdings, Inc.*	237,978
	17,991	American Eagle Outfitters, Inc.	182,968
	14,471	American Public Education, Inc.*	72,500
	4,422	Asbury Automotive Group, Inc.*	924,684
	4,894	Bally’s Corp.*	66,509
	84,619	Beachbody Co., Inc. (The)*	41,108
	9,444	Beazer Homes USA, Inc.*	191,430
	4,522	Big 5 Sporting Goods Corp.(a)	34,186
	11,134	Big Lots, Inc.(a)	55,893
	4,452	BJ’s Restaurants, Inc.*	132,581
	14,160	Bloomin’ Brands, Inc.	338,282
	7,924	Bluegreen Vacations Holding Corp.	226,468
	4,766	Boot Barn Holdings, Inc.*	322,277
	7,204	Brinker International, Inc.*	263,522
	10,131	Buckle, Inc. (The)	311,123
	15,460	Caleres, Inc.	266,840
	5,508	Camping World Holdings, Inc., Class A	148,441
	21,086	CarParts.com, Inc.*	87,929
	7,906	Carriage Services, Inc.	206,821
	1,460	Cavco Industries, Inc.*	363,511
	3,435	Century Communities, Inc.	218,569
	5,326	Cheesecake Factory, Inc. (The)	166,864
	6,161	Chegg, Inc.*	55,326
	33,088	Chico’s FAS, Inc.*	150,220
	4,442	Children’s Place, Inc. (The)*	66,763
	4,636	Chuy’s Holdings, Inc.*	170,790
	6,823	Citi Trends, Inc.*	99,752
	3,880	Conn’s, Inc.*	15,753
	5,472	Container Store Group, Inc. (The)*	13,461

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	7,523	Coursera, Inc.*	$         95,241
	1,836	Cracker Barrel Old Country Store, Inc.	179,965
	10,583	Crocs, Inc.*	1,188,259
	24,926	Dana, Inc.	320,798
	5,249	Dave & Buster’s Entertainment, Inc.*	168,755
	17,312	Denny’s Corp.*	191,644
	12,157	Designer Brands, Inc., Class A	76,224
	28,753	Destination XL Group, Inc.*	119,612
	2,354	Dillard’s, Inc., Class A	648,080
	1,862	Dine Brands Global, Inc.	111,403
	6,645	Dorman Products, Inc.*	545,222
	5,411	Duluth Holdings, Inc., Class B*	29,219
	1,372	Duolingo, Inc.*	205,210
	11,967	El Pollo Loco Holdings, Inc.	109,378
	19,390	Ethan Allen Interiors, Inc.	485,332
	12,602	Everi Holdings, Inc.*	175,168
	5,727	Foot Locker, Inc.	145,008
	40,506	Fossil Group, Inc.*	82,227
	6,179	Fox Factory Holding Corp.*	549,437
	4,423	Franchise Group, Inc.(a)	128,709
	20,588	Frontdoor, Inc.*	634,728
	11,977	Funko, Inc., Class A*	146,119
	9,321	Genesco, Inc.*	168,058
	7,107	Gentherm, Inc.*	390,601
	10,976	G-III Apparel Group Ltd.*	176,494
	5,191	Golden Entertainment, Inc.*	218,749
	45,297	Goodyear Tire & Rubber Co. (The)*	621,928
	38,713	GoPro, Inc., Class A*	162,595
	826	Graham Holdings Co., Class B	466,483
	6,583	Green Brick Partners, Inc.*	315,128
	3,947	Group 1 Automotive, Inc.	882,194
	15,450	Groupon, Inc.*(a)	83,430
	8,652	Guess?, Inc.(a)	166,205
	14,079	Haverty Furniture Cos., Inc.	371,545
	3,306	Helen of Troy Ltd.*	318,302
	6,187	Hibbett, Inc.	222,856
	10,786	Hilton Grand Vacations, Inc.*	461,101
	2,153	Hovnanian Enterprises, Inc., Class A*	180,766
	20,612	Inspired Entertainment, Inc.*	283,003
	4,285	Installed Building Products, Inc.	447,954
	15,798	International Game Technology PLC	387,525
	6,665	iRobot Corp.*	236,274
	3,649	Jack in the Box, Inc.	315,857

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	3,918	Johnson Outdoors, Inc., Class A	$       222,386
	8,440	KB Home	365,705
	10,717	Kontoor Brands, Inc.	419,678
	2,847	Lands’ End, Inc.*	17,851
	23,484	Laureate Education, Inc.	284,156
	15,274	La-Z-Boy, Inc.	408,121
	6,957	LCI Industries	751,634
	1,114	LGI Homes, Inc.*	126,740
	4,316	Lifetime Brands, Inc.	21,148
	9,492	Light & Wonder, Inc.*	553,289
	6,861	Lovesac Co. (The)*	144,630
	18,643	Luminar Technologies, Inc.*(a)	126,959
	6,460	M/I Homes, Inc.*	456,528
	5,478	Malibu Boats, Inc., Class A*	287,321
	1,761	Marine Products Corp.	26,908
	8,469	MarineMax, Inc.*	240,266
	14,691	MasterCraft Boat Holdings, Inc.*	389,311
	6,676	MDC Holdings, Inc.	268,909
	6,131	Meritage Homes Corp.	707,088
	14,278	Modine Manufacturing Co.*	389,647
	3,787	Monarch Casino & Resort, Inc.	245,738
	4,102	Monro, Inc.	169,700
	8,924	Movado Group, Inc.	227,116
	5,664	Murphy USA, Inc.	1,565,643
	9,617	National Vision Holdings, Inc.*	242,829
	9,476	ODP Corp. (The)*	379,609
	3,981	OneWater Marine, Inc., Class A*	110,632
	7,635	Overstock.com, Inc.*	143,004
	6,540	Oxford Industries, Inc.	653,608
	7,853	Papa John’s International, Inc.	550,574
	8,224	Patrick Industries, Inc.	538,919
	63,961	Perdoceo Education Corp.*	754,100
	8,134	PetMed Express, Inc.	120,627
	3,390	RCI Hospitality Holdings, Inc.	244,860
	8,222	Red Rock Resorts, Inc., Class A	374,841
	5,590	Revolve Group, Inc.*	85,080
	26,875	Rush Street Interactive, Inc.*	80,625
	24,693	Sally Beauty Holdings, Inc.*	278,043
	5,572	SeaWorld Entertainment, Inc.*	310,695
	14,601	Shoe Carnival, Inc.	285,742
	8,903	Signet Jewelers Ltd.	565,251
	7,669	Skyline Champion Corp.*	445,799
	9,441	Sleep Number Corp.*	171,260

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Discretionary – (continued)
	22,584	Smith & Wesson Brands, Inc.	$       264,910
	4,983	Sonic Automotive, Inc., Class A	206,496
	24,258	Sonos, Inc.*	352,469
	18,474	Sportsman’s Warehouse Holdings, Inc.*	83,687
	10,436	Standard Motor Products, Inc.	368,600
	17,616	Steven Madden Ltd.	549,795
	33,716	Stitch Fix, Inc., Class A*	121,040
	14,940	Stoneridge, Inc.*	244,418
	4,150	Strategic Education, Inc.	327,476
	21,017	Stride, Inc.*	849,297
	6,343	Sturm Ruger & Co., Inc.	327,045
	5,187	Target Hospitality Corp.*	73,292
	21,757	Taylor Morrison Home Corp.*	923,150
	9,055	Texas Roadhouse, Inc.	977,035
	11,975	Topgolf Callaway Brands Corp.*	204,413
	22,985	Tri Pointe Homes, Inc.*	671,392
	6,101	Tupperware Brands Corp.*	5,431
	18,826	Udemy, Inc.*	188,260
	3,169	Universal Technical Institute, Inc.*	20,377
	21,750	Upbound Group, Inc.	650,542
	8,007	Urban Outfitters, Inc.*	246,776
	13,586	Vista Outdoor, Inc.*	361,795
	2,488	Visteon Corp.*	332,347
	8,048	Warby Parker, Inc., Class A*(a)	88,608
	6,409	Wingstop, Inc.	1,277,698
	2,300	Winmark Corp.	749,777
	10,882	Winnebago Industries, Inc.	605,474
	13,986	Wolverine World Wide, Inc.	187,133
	42,902	WW International, Inc.*	281,437
	8,837	XPEL, Inc.*	608,604
	12,115	Zumiez, Inc.*	194,688
			48,787,031
	Consumer Staples – 4.0%
	69	Alico, Inc.	1,597
	3,779	Andersons, Inc. (The)	147,419
	11,090	B&G Foods, Inc.(a)	142,063
	9,327	Beauty Health Co. (The)*	74,989
	12,695	BellRing Brands, Inc.*	464,891
	10,222	Cal-Maine Foods, Inc.	486,056
	5,787	Celsius Holdings, Inc.*	726,442
	5,275	Central Garden & Pet Co.*	191,482
	8,691	Central Garden & Pet Co., Class A*	298,536

Shares		Description	Value
	Common Stocks – (continued)
	Consumer Staples – (continued)
	4,016	Chefs’ Warehouse, Inc. (The)*	$       124,938
	2,287	Coca-Cola Consolidated, Inc.	1,513,399
	11,568	Edgewell Personal Care Co.	450,574
	6,782	elf Beauty, Inc.*	705,464
	6,078	Energizer Holdings, Inc.	198,143
	8,622	Fresh Del Monte Produce, Inc.	227,276
	10,545	Hain Celestial Group, Inc. (The)*	128,754
	21,233	Herbalife Ltd.*	251,399
	31,858	Hostess Brands, Inc.*	792,627
	8,930	Ingles Markets, Inc., Class A	716,811
	3,935	Inter Parfums, Inc.	494,236
	1,772	J & J Snack Foods Corp.	272,799
	4,537	John B. Sanfilippo & Son, Inc.	527,335
	3,520	Lancaster Colony Corp.	691,962
	3,184	Medifast, Inc.	250,581
	1,959	MGP Ingredients, Inc.	186,223
	11,822	National Beverage Corp.*	584,243
	10,651	Nu Skin Enterprises, Inc., Class A	354,998
	2,550	PriceSmart, Inc.	184,824
	36,393	Primo Water Corp.	468,378
	26,424	Rite Aid Corp.*(a)	47,299
	10,323	Simply Good Foods Co. (The)*	373,589
	18,102	SpartanNash Co.	414,536
	24,091	Sprouts Farmers Market, Inc.*	832,585
	2,748	Tootsie Roll Industries, Inc.	107,364
	10,908	TreeHouse Foods, Inc.*	516,494
	7,497	Turning Point Brands, Inc.	156,987
	17,246	United Natural Foods, Inc.*	460,641
	6,735	Universal Corp.	347,189
	5,524	USANA Health Sciences, Inc.*	335,141
	7,611	Utz Brands, Inc.	125,201
	39,753	Vector Group Ltd.	465,508
	7,971	Village Super Market, Inc., Class A	165,438
	14,264	Vital Farms, Inc.*	206,685
	3,027	WD-40 Co.	574,071
	5,786	Weis Markets, Inc.	344,498
			17,131,665
	Energy – 5.8%
	33,587	Amplify Energy Corp.*	228,392
	5,394	Arch Resources, Inc.	557,470
	27,610	Archrock, Inc.	248,490
	9,033	Ardmore Shipping Corp. (Ireland)	105,776

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Energy – (continued)
	21,388	Berry Corp.	$       134,744
	6,950	Bristow Group, Inc.*	169,927
	8,275	Cactus, Inc., Class A	261,324
	12,616	California Resources Corp.	473,605
	10,344	Callon Petroleum Co.*	316,837
	3,177	Centrus Energy Corp., Class A*	93,690
	23,759	ChampionX Corp.	600,152
	6,924	Chord Energy Corp.	990,409
	13,390	Civitas Resources, Inc.	894,452
	24,915	CNX Resources Corp.*	384,937
	55,626	Comstock Resources, Inc.(a)	518,434
	12,626	CONSOL Energy, Inc.	681,299
	7,195	CVR Energy, Inc.	168,435
	14,290	Delek US Holdings, Inc.	314,666
	4,868	Denbury, Inc.*	438,948
	33,732	DHT Holdings, Inc.	259,399
	17,283	Diamond Offshore Drilling, Inc.*	189,249
	13,128	Dorian LPG Ltd.	302,994
	5,394	Dril-Quip, Inc.*	120,556
	4,990	Empire Petroleum Corp.*	47,205
	19,652	Energy Fuels, Inc.*(a)	115,554
	56,693	Equitrans Midstream Corp.	483,591
	5,995	Expro Group Holdings NV*	99,457
	3,564	FLEX LNG Ltd. (Norway)(a)	106,172
	7,276	Frontline PLC (Norway)	102,810
	8,705	Golar LNG Ltd. (Cameroon) *	179,062
	4,369	Green Plains, Inc.*	126,701
	2,416	Gulfport Energy Corp.*	234,400
	51,844	Helix Energy Solutions Group, Inc.*	325,580
	8,026	Helmerich & Payne, Inc.	247,843
	6,164	International Seaways, Inc.	222,212
	72,533	Kosmos Energy Ltd. (Ghana) *	432,297
	20,973	Liberty Energy, Inc.	246,223
	56,726	Magnolia Oil & Gas Corp., Class A	1,096,514
	22,751	Matador Resources Co.	1,000,361
	21,401	Murphy Oil Corp.	744,755
	3,034	Nabors Industries Ltd.*	253,946
	3,816	NACCO Industries, Inc., Class A	120,013
	41,191	NexTier Oilfield Solutions, Inc.*	310,580
	8,088	Noble Corp. PLC*	305,241
	9,111	Northern Oil and Gas, Inc.	272,510
	20,033	Oceaneering International, Inc.*	306,705
	26,248	Oil States International, Inc.*	166,937

Shares		Description	Value
	Common Stocks – (continued)
	Energy – (continued)
	9,158	Par Pacific Holdings, Inc.*	$       195,249
	16,675	Patterson-UTI Energy, Inc.	162,414
	19,605	PBF Energy, Inc., Class A	721,660
	17,412	Peabody Energy Corp.	316,202
	47,261	Permian Resources Corp.	440,945
	7,590	ProFrac Holding Corp., Class A*	85,160
	40,552	ProPetro Holding Corp.*	270,482
	9,233	Ranger Oil Corp., Class A	339,313
	6,970	REX American Resources Corp.*	229,592
	56,610	Ring Energy, Inc.*	96,237
	57,769	RPC, Inc.	384,164
	21,082	SandRidge Energy, Inc.	283,974
	7,047	Scorpio Tankers, Inc. (Monaco)	322,541
	21,208	SFL Corp. Ltd. (Norway)	181,965
	10,628	SilverBow Resources, Inc.*	253,797
	10,419	Sitio Royalties Corp., Class A	265,476
	37,608	SM Energy Co.	988,714
	16,379	Solaris Oilfield Infrastructure, Inc., Class A	120,058
	31,348	Talos Energy, Inc.*	385,894
	3,421	Teekay Tankers Ltd., Class A (Canada)	123,601
	46,252	TETRA Technologies, Inc.*	120,255
	3,976	Tidewater, Inc.*	178,165
	43,851	Uranium Energy Corp.*	113,574
	19,566	US Silica Holdings, Inc.*	221,683
	75,273	VAALCO Energy, Inc.	290,554
	6,879	Valaris Ltd.*	397,125
	8,453	Vital Energy, Inc.*	350,715
	86,771	W&T Offshore, Inc.*	335,804
	7,362	Weatherford International PLC*	415,511
	14,435	World Fuel Services Corp.	330,128
			24,921,806
	Financials – 17.4%
	3,731	1st Source Corp.	153,456
	1,910	ACNB Corp.	56,249
	11,133	A-Mark Precious Metals, Inc.	377,075
	12,627	Ambac Financial Group, Inc.*	175,894
	4,902	Amerant Bancorp, Inc.	86,520
	24,418	American Equity Investment Life Holding Co.	963,290
	4,261	American National Bankshares, Inc.	122,419
	13,913	Ameris Bancorp	439,094
	6,649	AMERISAFE, Inc.	339,498

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	28,720	Apollo Commercial Real Estate Finance, Inc. REIT	$       289,785
	27,101	Arbor Realty Trust, Inc. REIT	341,744
	15,120	Ares Commercial Real Estate Corp. REIT	138,953
	4,797	Argo Group International Holdings Ltd.	140,600
	20,188	ARMOUR Residential REIT, Inc. REIT	101,344
	8,467	Arrow Financial Corp.	154,438
	18,123	Artisan Partners Asset Management, Inc., Class A	579,936
	23,134	Associated Banc-Corp.	342,615
	12,247	Atlantic Union Bankshares Corp.	313,033
	2,471	Atlanticus Holdings Corp.*	86,386
	7,592	Avantax, Inc.*	160,647
	20,213	Axos Financial, Inc.*	764,456
	8,381	Banc of California, Inc.	89,593
	6,573	BancFirst Corp.	555,879
	11,080	Banco Latinoamericano de Comercio Exterior SA, Class E (Panama)	215,949
	14,534	Bancorp, Inc. (The)*	448,519
	2,447	Bank First Corp.(a)	186,266
	3,872	Bank of Marin Bancorp	62,610
	20,478	Bank of NT Butterfield & Son Ltd. (The) (Bermuda)	513,383
	15,428	BankUnited, Inc.	291,898
	5,305	Bankwell Financial Group, Inc.	121,219
	5,737	Banner Corp.	248,240
	2,252	BayCom Corp.	36,505
	12,044	BCB Bancorp, Inc.	127,787
	6,385	Berkshire Hills Bancorp, Inc.	130,573
	29,860	BGC Partners, Inc., Class A	121,530
	20,404	Blackstone Mortgage Trust, Inc., Class A REIT	371,149
	6,927	Blue Ridge Bankshares, Inc.	60,196
	7,998	Bread Financial Holdings, Inc.	225,384
	10,653	Brightsphere Investment Group, Inc.	228,933
	23,290	Brookline Bancorp, Inc.	191,444
	4,294	BRP Group, Inc., Class A*	86,138
	5,508	Byline Bancorp, Inc.	97,602
	31,322	Cadence Bank	562,543
	1,643	Cambridge Bancorp	83,037
	8,605	Camden National Corp.	253,934
	5,980	Cannae Holdings, Inc.*	117,507
	8,461	Capital City Bank Group, Inc.	254,422

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	15,795	Capitol Federal Financial, Inc.	$         94,454
	4,702	Cass Information Systems, Inc.	181,591
	16,782	Cathay General Bancorp	490,706
	11,443	Central Pacific Financial Corp.	167,182
	22,223	Chimera Investment Corp. REIT	107,115
	6,260	City Holding Co.	539,549
	10,554	Civista Bancshares, Inc.	158,099
	7,684	Claros Mortgage Trust, Inc.	80,144
	7,192	CNB Financial Corp.	119,459
	33,462	CNO Financial Group, Inc.	726,460
	8,853	Cohen & Steers, Inc.	481,692
	3,604	Colony Bankcorp, Inc.	33,517
	6,753	Columbia Financial, Inc.*	109,061
	8,293	Community Bank System, Inc.	410,006
	5,209	Community Trust Bancorp, Inc.	175,543
	6,847	ConnectOne Bancorp, Inc.	92,982
	8,572	Consumer Portfolio Services, Inc.*	99,521
	376	Crawford & Co., Class A	3,715
	11,659	Curo Group Holdings Corp.	12,592
	15,995	Customers Bancorp, Inc.*	368,205
	18,133	CVB Financial Corp.	217,777
	1,799	Diamond Hill Investment Group, Inc.	285,627
	10,774	Dime Community Bancshares, Inc.	174,539
	11,812	Donnelley Financial Solutions, Inc.*	523,862
	19,689	Dynex Capital, Inc. REIT	221,304
	8,911	Eagle Bancorp, Inc.	177,596
	15,189	Eastern Bankshares, Inc.	164,801
	11,424	Ellington Financial, Inc. REIT	143,257
	10,901	Employers Holdings, Inc.	394,180
	10,004	Enact Holdings, Inc.	243,497
	12,058	Encore Capital Group, Inc.*	519,338
	17,233	Enova International, Inc.*	801,679
	883	Enstar Group Ltd.*	207,841
	6,988	Enterprise Financial Services Corp.	283,853
	3,760	Esquire Financial Holdings, Inc.	159,161
	23,598	Essent Group Ltd.	1,042,324
	13,190	EVERTEC, Inc. (Puerto Rico)	454,791
	18,853	EZCORP, Inc., Class A*	157,234
	3,314	Farmers & Merchants Bancorp, Inc.	65,915
	11,904	Farmers National Banc Corp.	140,229
	9,001	FB Financial Corp.	239,967
	7,159	Federal Agricultural Mortgage Corp., Class C	957,946
	24,243	Federated Hermes, Inc.	834,686

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	10,229	Financial Institutions, Inc.	$       160,698
	8,110	First Bancorp	244,111
	47,133	First BanCorp. (Puerto Rico)	526,004
	6,017	First Bancorp, Inc. (The)	142,603
	4,235	First Bancshares, Inc. (The)	110,279
	9,705	First Busey Corp.	181,483
	7,551	First Business Financial Services, Inc.	202,140
	22,035	First Commonwealth Financial Corp.	278,743
	19,590	First Financial Bancorp	371,426
	25,143	First Financial Bankshares, Inc.	651,204
	4,141	First Financial Corp.	134,334
	16,755	First Foundation, Inc.	65,009
	4,724	First Guaranty Bancshares, Inc.(a)	62,357
	5,020	First Internet Bancorp	61,646
	10,526	First Interstate BancSystem, Inc., Class A	232,098
	13,537	First Merchants Corp.	358,054
	4,673	First Mid Bancshares, Inc.	112,105
	9,099	First of Long Island Corp. (The)	92,901
	2,075	First Western Financial, Inc.*	35,316
	5,486	FirstCash Holdings, Inc.	540,590
	12,925	Flushing Financial Corp.	150,576
	4,593	Focus Financial Partners, Inc., Class A*	239,249
	31,429	Fulton Financial Corp.	350,748
	4,254	FVCBankcorp, Inc.*	43,476
	109,736	Genworth Financial, Inc., Class A*	587,088
	10,145	German American Bancorp, Inc.	280,002
	18,542	Glacier Bancorp, Inc.	534,380
	6,432	Great Southern Bancorp, Inc.	312,788
	7,817	Green Dot Corp., Class A*	142,504
	6,376	Greene County Bancorp, Inc.	170,558
	8,360	Hamilton Lane, Inc., Class A	567,728
	14,124	Hancock Whitney Corp.	515,950
	11,794	Hanmi Financial Corp.	169,834
	4,871	Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT	114,615
	14,964	HarborOne Bancorp, Inc.	122,705
	8,277	Heartland Financial USA, Inc.	228,362
	18,263	Heritage Commerce Corp.	132,955
	6,306	Heritage Financial Corp.	103,103
	13,427	Hilltop Holdings, Inc.	396,365
	1,243	Hingham Institution For Savings (The)	239,675
	3,786	Home Bancorp, Inc.	116,571
	28,975	Home BancShares, Inc.	622,093

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	9,285	HomeStreet, Inc.	$         48,653
	5,963	HomeTrust Bancshares, Inc.	116,815
	27,047	Hope Bancorp, Inc.	216,917
	11,258	Horace Mann Educators Corp.	338,303
	12,988	Horizon Bancorp, Inc.	115,463
	10,210	Houlihan Lokey, Inc.	891,435
	6,538	I3 Verticals, Inc., Class A*	149,393
	7,211	Independent Bank Corp.	318,294
	13,358	Independent Bank Corp.	218,403
	6,431	Independent Bank Group, Inc.	214,602
	10,666	International Bancshares Corp.	455,651
	10,086	International Money Express, Inc.*	235,004
	1,203	Investors Title Co.	159,458
	19,301	Jackson Financial, Inc., Class A	534,638
	11,463	Kearny Financial Corp.	78,292
	4,374	Kinsale Capital Group, Inc.	1,325,234
	13,056	KKR Real Estate Finance Trust, Inc. REIT	146,619
	14,702	Ladder Capital Corp. REIT	140,110
	12,057	Lakeland Bancorp, Inc.	156,862
	8,968	Lakeland Financial Corp.	450,463
	30,403	LendingClub Corp.*	249,305
	9,553	Live Oak Bancshares, Inc.	206,727
	20,386	Macatawa Bank Corp.	177,766
	32,932	MBIA, Inc.*	262,139
	7,176	Mercantile Bank Corp.	186,791
	3,609	Metropolitan Bank Holding Corp.*(a)	102,135
	10,339	MFA Financial, Inc. REIT	109,387
	5,590	Midland States Bancorp, Inc.	108,111
	4,606	MidWestOne Financial Group, Inc.	86,961
	13,261	Moelis & Co., Class A	502,194
	19,518	MoneyGram International, Inc.*	214,503
	30,009	Mr Cooper Group, Inc.*	1,388,216
	5,571	National Bank Holdings Corp., Class A	166,740
	812	National Western Life Group, Inc., Class A	302,908
	46,313	Navient Corp.	701,642
	8,748	NBT Bancorp, Inc.	293,495
	5,201	Nelnet, Inc., Class A	481,092
	9,828	New York Mortgage Trust, Inc. REIT	96,020
	7,382	Nexpoint Real Estate Finance, Inc. REIT	98,107
	4,495	Nicolet Bankshares, Inc.	279,005
	21,616	NMI Holdings, Inc., Class A*	543,642
	6,328	Northeast Bank	226,796
	16,934	Northwest Bancshares, Inc.	177,976

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	8,485	OceanFirst Financial Corp.	$       120,487
	16,858	OFG Bancorp (Puerto Rico)	408,975
	42,728	Old National Bancorp	530,682
	16,078	Old Second Bancorp, Inc.	190,364
	18,754	Open Lending Corp., Class A*	190,166
	7,311	Oppenheimer Holdings, Inc., Class A	286,664
	3,246	Origin Bancorp, Inc.	92,349
	12,441	Pacific Premier Bancorp, Inc.	234,264
	2,016	Palomar Holdings, Inc.*	110,195
	4,275	Park National Corp.	422,156
	9,517	Parke Bancorp, Inc.	152,843
	11,440	Pathward Financial, Inc.	502,674
	15,122	Paysafe Ltd.*	146,079
	10,957	PCB Bancorp	154,384
	7,534	Peapack-Gladstone Financial Corp.	198,822
	13,622	PennyMac Financial Services, Inc.	831,487
	11,538	PennyMac Mortgage Investment Trust REIT	134,302
	13,962	Peoples Bancorp, Inc.	358,405
	3,946	Peoples Financial Services Corp.	156,183
	3,690	Piper Sandler Cos.	469,995
	6,720	PJT Partners, Inc., Class A	452,928
	9,128	PRA Group, Inc.*	170,694
	8,006	Preferred Bank	369,237
	7,640	Premier Financial Corp.	106,502
	9,246	Primis Financial Corp.	68,143
	9,554	ProAssurance Corp.	116,081
	13,620	PROG Holdings, Inc.*	444,421
	15,510	Provident Financial Services, Inc.	246,299
	6,420	QCR Holdings, Inc.	246,656
	45,673	Radian Group, Inc.	1,166,488
	36,409	Ready Capital Corp. REIT	368,097
	13,847	Redwood Trust, Inc. REIT	81,974
	6,536	Regional Management Corp.	170,916
	15,438	Remitly Global, Inc.*	283,133
	10,036	Renasant Corp.	262,140
	27,747	Repay Holdings Corp.*	175,638
	5,918	Republic Bancorp, Inc., Class A	249,385
	7,385	RLI Corp.	914,632
	8,109	S&T Bancorp, Inc.	217,483
	4,880	Safety Insurance Group, Inc.	355,362
	11,141	Sandy Spring Bancorp, Inc.	233,293
	8,497	Seacoast Banking Corp. of Florida	175,718
	12,119	Selective Insurance Group, Inc.	1,172,271

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	14,086	ServisFirst Bancshares, Inc.	$       567,666
	6,972	Shore Bancshares, Inc.	78,505
	7,005	Sierra Bancorp	112,010
	16,242	Simmons First National Corp., Class A	264,257
	24,442	SiriusPoint Ltd. (Bermuda) *	227,555
	6,009	Southern First Bancshares, Inc.*	138,027
	6,453	Southern Missouri Bancorp, Inc.	239,729
	6,462	Southside Bancshares, Inc.	171,243
	9,791	SouthState Corp.	612,133
	8,148	Stellar Bancorp, Inc.	189,522
	6,843	StepStone Group, Inc., Class A	147,193
	10,160	Stewart Information Services Corp.	455,574
	7,006	Stock Yards Bancorp, Inc.	293,551
	39,876	StoneCo Ltd., Class A (Brazil)*	499,646
	6,200	StoneX Group, Inc.*	497,798
	7,365	Texas Capital Bancshares, Inc.*	348,364
	3,634	Tompkins Financial Corp.	190,058
	13,518	Towne Bank	314,158
	14,160	TPG RE Finance Trust, Inc. REIT	89,633
	8,853	TriCo Bancshares	288,254
	6,699	Triumph Financial, Inc.*	347,812
	5,643	TrustCo Bank Corp.	155,916
	12,492	Trustmark Corp.	260,833
	20,984	Two Harbors Investment Corp. REIT	261,041
	8,501	UMB Financial Corp.	481,497
	17,403	United Bankshares, Inc.	511,996
	17,651	United Community Banks, Inc.	399,089
	967	United Fire Group, Inc.	20,771
	6,629	Unity Bancorp, Inc.	150,810
	12,565	Universal Insurance Holdings, Inc.	180,308
	6,703	Univest Financial Corp.	118,844
	68,204	Valley National Bancorp	503,346
	9,875	Veritex Holdings, Inc.	170,541
	2,412	Virtus Investment Partners, Inc.	460,161
	7,718	Walker & Dunlop, Inc.	564,880
	14,469	Washington Federal, Inc.	376,339
	6,629	Washington Trust Bancorp, Inc.	168,774
	16,330	Waterstone Financial, Inc.	220,782
	11,344	WesBanco, Inc.	273,844
	12,657	West BanCorp, Inc.	212,638
	6,772	Westamerica BanCorp	256,185
	1,515	World Acceptance Corp.*	168,453

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Financials – (continued)
	12,236	WSFS Financial Corp.	$       409,172
			74,787,237
	Health Care – 12.7%
	52,957	AbCellera Biologics, Inc. (Canada)*	369,110
	38,843	ACADIA Pharmaceuticals, Inc.*	912,810
	14,877	AdaptHealth Corp.*	155,911
	3,541	Addus HomeCare Corp.*	319,221
	12,449	Alector, Inc.*	92,621
	50,232	Alkermes PLC*	1,453,212
	12,031	Alphatec Holdings, Inc.*	182,390
	15,699	Amicus Therapeutics, Inc.*	176,771
	13,013	AMN Healthcare Services, Inc.*	1,235,714
	89,727	Amneal Pharmaceuticals, Inc.*	209,961
	23,327	Amphastar Pharmaceuticals, Inc.*	1,035,019
	15,283	AngioDynamics, Inc.*	144,577
	3,443	ANI Pharmaceuticals, Inc.*	155,417
	12,218	Anika Therapeutics, Inc.*	330,986
	5,837	Apellis Pharmaceuticals, Inc.*	501,106
	20,310	Arcus Biosciences, Inc.*	417,167
	5,981	Arrowhead Pharmaceuticals, Inc.*	205,806
	17,489	Atea Pharmaceuticals, Inc.*	69,781
	7,038	AtriCure, Inc.*	316,499
	234	Atrion Corp.	121,764
	12,406	Avanos Medical, Inc.*	303,947
	3,117	Axonics, Inc.*	150,832
	1,510	Axsome Therapeutics, Inc.*	111,408
	3,542	Beam Therapeutics, Inc.*	112,990
	19,114	BioCryst Pharmaceuticals, Inc.*	158,073
	30,469	CareDx, Inc.*	243,143
	72,096	Catalyst Pharmaceuticals, Inc.*	832,709
	4,059	Celldex Therapeutics, Inc.*	129,076
	3,608	Cerevel Therapeutics Holdings, Inc.*	117,621
	47,412	Cerus Corp.*	101,462
	4,022	Chinook Therapeutics, Inc.*	97,292
	29,368	Coherus Biosciences, Inc.*	120,115
	31,986	Collegium Pharmaceutical, Inc.*	705,931
	13,431	Computer Programs and Systems, Inc.*	320,464
	2,005	CONMED Corp.	243,206
	58,766	Corcept Therapeutics, Inc.*	1,380,413
	3,128	CorVel Corp.*	611,336
	27,571	Cross Country Healthcare, Inc.*	703,060
	5,340	CryoPort, Inc.*	98,309

Shares		Description	Value
	Common Stocks – (continued)
	Health Care – (continued)
	2,773	Cue Health, Inc.*	$           2,112
	6,392	Cytokinetics, Inc.*	240,914
	7,564	Deciphera Pharmaceuticals, Inc.*	102,114
	62,616	Dynavax Technologies Corp.*	715,701
	9,765	Eagle Pharmaceuticals, Inc.*	202,624
	15,063	Embecta Corp.	416,793
	36,130	Emergent BioSolutions, Inc.*	308,189
	9,619	Ensign Group, Inc. (The)	852,340
	11,543	Evolent Health, Inc., Class A*	336,363
	49,214	Figs, Inc., Class A*	405,523
	10,141	Fulgent Genetics, Inc.*	403,308
	38,435	Geron Corp.*	125,682
	2,933	Glaukos Corp.*	167,240
	4,133	Haemonetics Corp.*	349,652
	19,533	Halozyme Therapeutics, Inc.*	633,455
	16,136	Harmony Biosciences Holdings, Inc.*	557,983
	8,711	HealthEquity, Inc.*	477,363
	9,273	HealthStream, Inc.	213,464
	7,338	Inari Medical, Inc.*	443,215
	45,957	Innoviva, Inc.*	619,960
	6,967	Insmed, Inc.*	132,582
	4,481	Inspire Medical Systems, Inc.*	1,310,648
	6,649	Integer Holdings Corp.*	544,287
	3,894	Intellia Therapeutics, Inc.*	145,090
	6,682	Intra-Cellular Therapies, Inc.*	396,777
	1,455	iRadimed Corp.	68,429
	6,386	iRhythm Technologies, Inc.*	729,728
	61,553	Ironwood Pharmaceuticals, Inc.*	669,697
	22,154	iTeos Therapeutics, Inc.*	360,667
	9,585	IVERIC bio, Inc.*	361,834
	10,579	Joint Corp. (The)*	150,010
	2,089	Karuna Therapeutics, Inc.*	473,263
	69,365	Karyopharm Therapeutics, Inc.*	156,765
	1,275	Krystal Biotech, Inc.*	150,259
	11,039	Lantheus Holdings, Inc.*	955,867
	9,037	LeMaitre Vascular, Inc.	567,885
	5,744	Ligand Pharmaceuticals, Inc.*	402,540
	6,745	LivaNova PLC*	298,669
	398	Madrigal Pharmaceuticals, Inc.*	110,807
	24,238	MannKind Corp.*	112,464
	6,633	Medpace Holdings, Inc.*	1,372,832
	7,778	Merit Medical Systems, Inc.*	640,907
	877	Mesa Laboratories, Inc.	113,563

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Health Care – (continued)
	88,509	MiMedx Group, Inc.*	$       518,663
	2,982	ModivCare, Inc.*	133,981
	133,314	Multiplan Corp.*	185,306
	36,785	Myriad Genetics, Inc.*	811,477
	5,200	National HealthCare Corp.	315,640
	8,152	National Research Corp.	366,025
	8,352	Neogen Corp.*	146,076
	11,870	NeoGenomics, Inc.*	203,927
	6,147	Nevro Corp.*	169,411
	36,288	NextGen Healthcare, Inc.*	565,004
	11,792	NuVasive, Inc.*	449,983
	1,368	OmniAb, Inc. 12.5 Earnout*(b)	—
	1,368	OmniAb, Inc. 15.00 Earnout*(b)	—
	6,624	Omnicell, Inc.*	486,334
	138,707	OPKO Health, Inc.*	192,803
	22,529	Option Care Health, Inc.*	620,674
	65,892	Organogenesis Holdings, Inc.*	239,188
	16,639	Orthofix Medical, Inc.*	310,983
	19,793	Owens & Minor, Inc.*	401,996
	10,434	Pacira BioSciences, Inc.*	396,805
	20,865	Patterson Cos., Inc.	546,454
	17,426	Pediatrix Medical Group, Inc.*	231,766
	15,482	PetIQ, Inc.*	197,086
	19,204	Phibro Animal Health Corp., Class A	255,413
	2,593	Phreesia, Inc.*	77,842
	16,412	Prestige Consumer Healthcare, Inc.*	939,259
	5,779	Progyny, Inc.*	215,268
	3,385	Prometheus Biosciences, Inc.*	672,600
	3,349	Prothena Corp. PLC (Ireland) *	222,474
	12,650	PTC Therapeutics, Inc.*	530,921
	9,422	RadNet, Inc.*	272,673
	2,555	Reata Pharmaceuticals, Inc., Class A*	230,078
	11,932	REGENXBIO, Inc.*	205,588
	5,411	Revance Therapeutics, Inc.*	165,360
	3,843	REVOLUTION Medicines, Inc.*	95,806
	2,240	Sage Therapeutics, Inc.*	110,880
	14,856	Select Medical Holdings Corp.	406,609
	5,472	Shockwave Medical, Inc.*	1,505,292
	10,613	SI-BONE, Inc.*	267,235
	45,563	SIGA Technologies, Inc.	255,608
	6,600	Silk Road Medical, Inc.*	199,254
	9,300	STAAR Surgical Co.*	539,586
	33,258	Supernus Pharmaceuticals, Inc.*	1,102,170

Shares		Description	Value
	Common Stocks – (continued)
	Health Care – (continued)
	6,438	Surgery Partners, Inc.*	$       241,296
	6,566	Surmodics, Inc.*	120,355
	7,969	Syndax Pharmaceuticals, Inc.*	159,141
	18,262	Tactile Systems Technology, Inc.*	383,867
	1,536	TransMedics Group, Inc.*	111,606
	18,645	Travere Therapeutics, Inc.*	333,559
	4,476	UFP Technologies, Inc.*	692,124
	2,616	US Physical Therapy, Inc.	267,224
	52,268	Vanda Pharmaceuticals, Inc.*	310,995
	14,226	Varex Imaging Corp.*	313,541
	4,273	Vaxcyte, Inc.*	211,599
	8,062	Veracyte, Inc.*	208,645
	37,068	Veradigm, Inc.*	436,661
	23,270	Vericel Corp.*	747,432
	36,484	Vir Biotechnology, Inc.*	973,028
	11,098	Xencor, Inc.*	300,756
	2,455	Zimvie, Inc.*	24,501
	20,852	Zynex, Inc.*(a)	195,592
			54,538,215
	Industrials – 18.3%
	6,391	AAON, Inc.	553,525
	8,964	AAR Corp.*	449,186
	12,258	ABM Industries, Inc.	541,313
	27,449	ACCO Brands Corp.	132,853
	14,801	ACV Auctions, Inc., Class A*	252,209
	7,193	Aerojet Rocketdyne Holdings, Inc.*	391,875
	1,549	AeroVironment, Inc.*	144,692
	7,417	Air Transport Services Group, Inc.*	123,864
	3,085	Alamo Group, Inc.	513,529
	4,223	Albany International Corp., Class A	358,617
	36,833	Alight, Inc., Class A*	311,607
	1,756	Allegiant Travel Co.*	171,192
	10,577	Allied Motion Technologies, Inc.	358,878
	2,384	Ameresco, Inc., Class A*	102,703
	4,114	American Woodmark Corp.*	244,783
	25,664	API Group Corp.*	580,006
	10,188	Apogee Enterprises, Inc.	376,039
	12,057	Applied Industrial Technologies, Inc.	1,482,529
	6,438	ArcBest Corp.	539,376
	9,345	Arcosa, Inc.	613,593
	3,278	Argan, Inc.	132,595
	6,784	Array Technologies, Inc.*	150,401

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	12,037	ASGN, Inc.*	$       787,581
	7,084	Astec Industries, Inc.	261,116
	13,718	Atkore, Inc.*	1,601,851
	5,017	AZZ, Inc.	175,144
	22,109	Babcock & Wilcox Enterprises, Inc.*	106,123
	7,188	Barnes Group, Inc.	282,848
	2,555	Barrett Business Services, Inc.	214,620
	12,734	Beacon Roofing Supply, Inc.*	814,212
	8,563	Bloom Energy Corp., Class A*	117,484
	6,056	Blue Bird Corp.*	153,580
	8,474	BlueLinx Holdings, Inc.*	696,732
	18,274	Boise Cascade Co.	1,312,439
	13,930	Brady Corp., Class A	664,182
	5,006	Brink’s Co. (The)	333,049
	9,258	Caesarstone Ltd.	42,957
	5,262	Casella Waste Systems, Inc., Class A*	474,422
	12,392	CBIZ, Inc.*	624,805
	3,869	Chart Industries, Inc.*	424,545
	9,240	Cimpress PLC (Ireland)*	441,487
	5,511	CIRCOR International, Inc.*	159,709
	8,188	Columbus McKinnon Corp.	298,698
	9,936	Comfort Systems USA, Inc.	1,470,329
	85,045	Conduent, Inc.*	257,686
	34,057	CoreCivic, Inc.*	293,571
	14,565	Costamare, Inc. (Monaco)	112,442
	3,930	Covenant Logistics Group, Inc.	150,008
	3,833	CRA International, Inc.	355,204
	11,908	CSG Systems International, Inc.	571,346
	4,279	CSW Industrials, Inc.	606,420
	168	Daseke, Inc.*	1,008
	16,323	Deluxe Corp.	248,436
	4,444	Distribution Solutions Group, Inc.*	200,202
	3,309	Douglas Dynamics, Inc.	93,512
	2,540	Ducommun, Inc.*	104,038
	14,338	DXP Enterprises, Inc.*	458,386
	3,974	Dycom Industries, Inc.*	403,083
	5,139	Eagle Bulk Shipping, Inc.(a)	201,860
	11,700	EMCOR Group, Inc.	1,928,628
	7,832	Encore Wire Corp.	1,281,863
	22,345	Energy Recovery, Inc.*	532,034
	11,498	Enerpac Tool Group Corp.	292,279
	4,459	EnerSys	433,727
	7,254	Ennis, Inc.	140,510

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	4,885	EnPro Industries, Inc.	$       493,776
	3,421	ESCO Technologies, Inc.	307,890
	6,633	ExlService Holdings, Inc.*	1,001,185
	4,431	Exponent, Inc.	404,639
	8,629	Federal Signal Corp.	457,251
	10,256	First Advantage Corp.*	138,559
	19,068	Fluor Corp.*	506,446
	6,033	Forrester Research, Inc.*	173,147
	10,275	Forward Air Corp.	999,449
	11,765	Franklin Covey Co.*	434,364
	11,641	Franklin Electric Co., Inc.	1,058,865
	3,472	GATX Corp.	412,856
	12,407	Genco Shipping & Trading Ltd.	153,971
	49,223	GEO Group, Inc. (The)*	367,204
	5,708	Gibraltar Industries, Inc.*	298,528
	12,148	Global Industrial Co.	302,242
	23,192	GMS, Inc.*	1,468,749
	11,903	Golden Ocean Group Ltd. (Norway)(a)	84,035
	3,879	Gorman-Rupp Co. (The)	92,824
	78,039	GrafTech International Ltd.	334,787
	4,731	Granite Construction, Inc.	171,215
	16,527	Great Lakes Dredge & Dock Corp.*	104,781
	3,407	Greenbrier Cos., Inc. (The)	92,568
	11,665	Griffon Corp.	367,681
	6,951	H&E Equipment Services, Inc.	249,958
	7,331	Heartland Express, Inc.	114,364
	5,281	Heidrick & Struggles International, Inc.	128,064
	3,353	Helios Technologies, Inc.	165,806
	3,537	Herc Holdings, Inc.	358,723
	6,737	Heritage-Crystal Clean, Inc.*	223,399
	13,996	Hillenbrand, Inc.	671,388
	16,924	HNI Corp.	431,562
	11,910	Hub Group, Inc., Class A*	876,100
	37,998	Hudson Technologies, Inc.*	332,103
	5,872	Huron Consulting Group, Inc.*	477,276
	5,130	ICF International, Inc.	574,509
	8,177	IES Holdings, Inc.*	387,753
	8,858	Insperity, Inc.	980,758
	6,838	Insteel Industries, Inc.	204,661
	22,966	Interface, Inc.	159,154
	11,519	JELD-WEN Holding, Inc.*	150,784
	34,585	Joby Aviation, Inc.*(a)	194,368
	5,001	John Bean Technologies Corp.	533,157

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	4,325	Kadant, Inc.	$       820,539
	5,246	Kaman Corp.	109,012
	16,471	Kelly Services, Inc., Class A	287,913
	10,252	Kennametal, Inc.	255,480
	14,649	Kforce, Inc.	843,636
	31,657	Kimball International, Inc., Class B	389,381
	10,328	Korn Ferry	485,416
	34,318	Legalzoom.com, Inc.*	384,018
	16,653	Li-Cycle Holdings Corp. (Canada)*(a)	78,602
	2,014	Lindsay Corp.	237,249
	11,538	Manitowoc Co., Inc. (The)*	165,570
	7,631	Marten Transport Ltd.	161,396
	4,818	Masonite International Corp.*	424,321
	11,861	Matson, Inc.	810,462
	6,979	Matthews International Corp., Class A	268,692
	11,415	Maximus, Inc.	924,158
	2,526	McGrath RentCorp	224,334
	2,760	Miller Industries, Inc.	90,694
	13,068	MillerKnoll, Inc.	177,071
	5,683	Moog, Inc., Class A	552,444
	27,765	MRC Global, Inc.*	241,278
	17,255	Mueller Industries, Inc.	1,281,356
	20,973	Mueller Water Products, Inc., Class A	287,330
	5,574	MYR Group, Inc.*	710,685
	364	National Presto Industries, Inc.	27,133
	5,435	Northwest Pipe Co.*	144,354
	65,074	NOW, Inc.*	578,508
	6,858	NV5 Global, Inc.*	621,472
	2,920	Omega Flex, Inc.	304,176
	3,748	PAM Transportation Services, Inc.*	98,048
	10,673	Parsons Corp.*	476,976
	20,673	PGT Innovations, Inc.*	514,138
	5,353	Powell Industries, Inc.	307,798
	2,354	Preformed Line Products Co.	361,833
	12,211	Primoris Services Corp.	327,255
	6,547	Proto Labs, Inc.*	201,386
	14,972	Quanex Building Products Corp.	314,562
	35,681	Radiant Logistics, Inc.*	223,006
	2,715	RBC Bearings, Inc.*	538,357
	2,674	Red Violet, Inc.*	52,731
	26,540	Resideo Technologies, Inc.*	425,436
	29,066	Resources Connection, Inc.	444,129
	15,655	REV Group, Inc.	158,742

Shares		Description	Value
	Common Stocks – (continued)
	Industrials – (continued)
	13,596	Rush Enterprises, Inc., Class A	$       710,663
	6,260	Rush Enterprises, Inc., Class B	364,269
	45,240	Safe Bulkers, Inc. (Greece)	143,411
	3,626	Saia, Inc.*	1,030,364
	5,497	Shoals Technologies Group, Inc., Class A*	129,125
	13,411	Shyft Group, Inc. (The)	315,293
	11,148	Simpson Manufacturing Co., Inc.	1,317,582
	7,370	SP Plus Corp.*	268,342
	6,349	Spirit Airlines, Inc.	96,568
	6,499	SPX Technologies, Inc.*	496,264
	2,358	Standex International Corp.	321,136
	32,630	Steelcase, Inc., Class A	211,769
	7,978	Sterling Infrastructure, Inc.*	367,546
	7,725	Tennant Co.	564,698
	12,147	Terex Corp.	563,256
	9,360	Textainer Group Holdings Ltd. (China)	331,999
	14,983	Titan International, Inc.*	148,182
	14,283	Titan Machinery, Inc.*	360,646
	6,704	Transcat, Inc.*	566,689
	6,229	TriNet Group, Inc.*	553,571
	6,041	Trinity Industries, Inc.	127,767
	8,217	Triton International Ltd. (Bermuda)	679,053
	25,053	TrueBlue, Inc.*	414,377
	4,941	TTEC Holdings, Inc.	156,729
	16,859	Tutor Perini Corp.*	91,039
	16,231	UFP Industries, Inc.	1,267,641
	2,814	UniFirst Corp.	481,504
	17,575	Upwork, Inc.*	144,115
	6,766	V2X, Inc.*	279,098
	9,804	Veritiv Corp.	1,035,204
	20,791	Verra Mobility Corp.*	366,545
	7,131	Vicor Corp.*	394,701
	10,015	View, Inc.*	1,561
	12,055	Wabash National Corp.	282,690
	7,576	Watts Water Technologies, Inc., Class A	1,200,417
	9,152	Werner Enterprises, Inc.	401,956
	8,139	Willdan Group, Inc.*	135,596
	10,097	Zurn Elkay Water Solutions Corp.	227,283
			78,970,146
	Information Technology – 12.9%
	70,748	8x8, Inc.*	288,652
	44,775	A10 Networks, Inc.	666,700

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	19,012	ACI Worldwide, Inc.*	$       433,664
	33,387	Adeia, Inc.	327,526
	10,860	ADTRAN Holdings, Inc.	96,763
	6,838	Advanced Energy Industries, Inc.	671,150
	8,533	Agilysys, Inc.*	634,343
	9,851	Alarm.com Holdings, Inc.*	494,717
	10,163	Alpha & Omega Semiconductor Ltd.*	281,413
	9,733	Altair Engineering, Inc., Class A*	713,721
	5,286	Ambarella, Inc.*	382,284
	11,884	American Software, Inc., Class A	151,283
	30,357	Amkor Technology, Inc.	752,246
	5,111	Appfolio, Inc., Class A*	731,640
	8,502	Appian Corp., Class A*	364,141
	9,894	Asana, Inc., Class A*	236,269
	25,627	Avid Technology, Inc.*	615,048
	9,565	Axcelis Technologies, Inc.*	1,506,966
	7,894	Badger Meter, Inc.	1,088,346
	6,854	Belden, Inc.	599,656
	10,927	Benchmark Electronics, Inc.	257,986
	10,161	BigCommerce Holdings, Inc.Series 1*	80,983
	7,792	Blackbaud, Inc.*	571,621
	2,354	BlackLine, Inc.*	122,573
	31,335	Box, Inc., Class A*	882,707
	37,253	Brightcove, Inc.*	155,718
	13,805	Calix, Inc.*	643,451
	8,433	Cambium Networks Corp.*	132,229
	33,305	Casa Systems, Inc.*	34,970
	5,853	Cerence, Inc.*	166,928
	5,603	CEVA, Inc.*	140,187
	6,372	Clearfield, Inc.*	249,209
	13,114	Cohu, Inc.*	502,791
	12,854	CommVault Systems, Inc.*	895,795
	9,249	Comtech Telecommunications Corp.	106,178
	5,339	Consensus Cloud Solutions, Inc.*	194,607
	6,693	Corsair Gaming, Inc.*	131,986
	7,736	Couchbase, Inc.*	158,743
	6,516	CTS Corp.	297,586
	24,102	Cvent Holding Corp.*(a)	204,626
	11,570	Digi International, Inc.*	415,941
	12,703	Digital Turbine, Inc.*	116,105
	13,212	Diodes, Inc.*	1,186,966
	20,691	Domo, Inc., Class B*	278,294
	14,139	Ebix, Inc.	281,649

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	9,658	Edgio, Inc.*	$           4,976
	18,792	eGain Corp.*	136,242
	5,997	Envestnet, Inc.*	313,823
	8,363	ePlus, Inc.*	413,049
	58,916	Extreme Networks, Inc.*	1,213,670
	6,199	Fabrinet (Thailand) *	701,851
	5,484	FARO Technologies, Inc.*	82,754
	19,098	FormFactor, Inc.*	597,576
	11,063	Grid Dynamics Holdings, Inc.*	106,205
	21,554	Hackett Group, Inc. (The)	417,932
	24,814	Harmonic, Inc.*	436,975
	12,171	Identiv, Inc.*	88,483
	6,400	Impinj, Inc.*	654,976
	24,724	Infinera Corp.*	121,148
	33,461	Information Services Group, Inc.	170,651
	32,843	Inseego Corp.*	35,142
	8,244	Insight Enterprises, Inc.*	1,114,754
	3,974	InterDigital, Inc.	330,001
	4,751	Itron, Inc.*	321,785
	9,875	Kimball Electronics, Inc.*	244,900
	22,789	Knowles Corp.*	409,746
	15,948	Kulicke & Soffa Industries, Inc. (Singapore)	843,330
	11,628	LiveRamp Holdings, Inc.*	283,025
	6,242	MACOM Technology Solutions Holdings, Inc.*	373,459
	18,010	MaxLinear, Inc.*	526,072
	9,640	Methode Electronics, Inc.	415,002
	20,378	Mitek Systems, Inc.*	212,339
	11,050	Model N, Inc.*	352,716
	18,187	Momentive Global, Inc.*	171,867
	21,745	Napco Security Technologies, Inc.	808,697
	9,551	NETGEAR, Inc.*	134,001
	17,714	NetScout Systems, Inc.*	540,631
	5,756	Novanta, Inc.*	953,194
	14,510	OneSpan, Inc.*	219,681
	11,840	Onto Innovation, Inc.*	1,271,024
	3,806	OSI Systems, Inc.*	452,952
	4,625	PagerDuty, Inc.*	125,846
	10,577	PC Connection, Inc.	475,648
	5,584	PDF Solutions, Inc.*	235,924
	8,516	Perficient, Inc.*	651,218
	26,498	Photronics, Inc.*	562,553
	5,600	Plexus Corp.*	507,808
	10,752	Power Integrations, Inc.	928,973

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	12,370	Progress Software Corp.	$       742,200
	5,487	PROS Holdings, Inc.*	166,366
	4,152	Q2 Holdings, Inc.*	120,906
	6,805	Qualys, Inc.*	859,199
	55,714	Rackspace Technology, Inc.*	86,914
	23,920	Rambus, Inc.*	1,529,923
	8,065	Rapid7, Inc.*	384,862
	43,798	Ribbon Communications, Inc.*	121,758
	933	Rogers Corp.*	146,919
	14,451	Sanmina Corp.*	766,481
	9,084	Sapiens International Corp. NV (Israel)	225,647
	8,767	ScanSource, Inc.*	252,139
	6,117	SecureWorks Corp., Class A*	49,364
	12,964	Semtech Corp.*	281,837
	3,669	Silicon Laboratories, Inc.*	516,118
	926	SiTime Corp.*	91,831
	17,753	SMART Global Holdings, Inc.*	400,863
	5,190	SoundThinking, Inc.*	132,293
	7,213	Sprout Social, Inc., Class A*	312,395
	7,943	SPS Commerce, Inc.*	1,237,519
	10,223	Squarespace, Inc., Class A*	300,454
	7,375	Super Micro Computer, Inc.*	1,651,631
	8,766	Synaptics, Inc.*	754,227
	12,907	Tenable Holdings, Inc.*	529,058
	30,085	TTM Technologies, Inc.*	412,164
	8,885	Turtle Beach Corp.*	101,111
	12,012	Ultra Clean Holdings, Inc.*	411,771
	31,263	Unisys Corp.*	122,864
	20,320	Upland Software, Inc.*	57,099
	14,569	Varonis Systems, Inc.*	382,873
	10,401	Veeco Instruments, Inc.*	253,888
	12,903	Verint Systems, Inc.*	462,960
	3,195	Veritone, Inc.*(a)	12,588
	38,278	Viavi Solutions, Inc.*	376,656
	27,346	Vishay Intertechnology, Inc.	704,980
	7,877	Vishay Precision Group, Inc.*	275,065
	7,667	Workiva, Inc.*	742,626
	24,069	Xerox Holdings Corp.	338,651
	8,930	Xperi, Inc.*	105,642
	36,201	Yext, Inc.*	332,687
	29,314	Zeta Global Holdings Corp., Class A*	264,412

Shares		Description	Value
	Common Stocks – (continued)
	Information Technology – (continued)
	23,764	Zuora, Inc., Class A*	$       256,414
			55,484,311
	Materials – 4.3%
	9,035	AdvanSix, Inc.	297,251
	6,377	Alpha Metallurgical Resources, Inc.	860,704
	22,540	Alto Ingredients, Inc.*	45,305
	18,965	American Vanguard Corp.	323,543
	9,537	Arconic Corp.*	275,715
	10,441	ATI, Inc.*	361,050
	15,431	Avient Corp.	563,231
	3,468	Balchem Corp.	428,749
	8,857	Cabot Corp.	606,527
	7,455	Carpenter Technology Corp.	340,022
	5,110	Chase Corp.	600,936
	5,980	Clearwater Paper Corp.*	181,732
	27,243	Commercial Metals Co.	1,164,638
	2,967	Compass Minerals International, Inc.	94,143
	18,029	Constellium SE*	268,632
	8,614	Ecovyst, Inc.*	86,485
	5,588	Greif, Inc., Class A	335,839
	2,870	Hawkins, Inc.	134,718
	8,670	HB Fuller Co.	545,690
	38,377	Hecla Mining Co.	204,549
	7,193	Ingevity Corp.*	339,438
	7,030	Innospec, Inc.	649,291
	3,859	Intrepid Potash, Inc.*	67,841
	2,716	Kaiser Aluminum Corp.	164,046
	4,989	Koppers Holdings, Inc.	144,481
	11,472	Livent Corp.*	264,430
	8,213	LSB Industries, Inc.*	76,381
	4,173	Materion Corp.	418,719
	6,452	Mativ Holdings, Inc.	97,167
	6,187	Minerals Technologies, Inc.	344,059
	32,084	Myers Industries, Inc.	599,971
	20,791	Novagold Resources, Inc. (Canada)*	107,074
	22,776	O-I Glass, Inc.*	471,919
	8,938	Olympic Steel, Inc.	373,787
	24,020	Orion Engineered Carbons SA (Germany)	557,024
	7,028	Pactiv Evergreen, Inc.	49,337
	2,143	Perimeter Solutions SA*	11,615
	1,779	Piedmont Lithium, Inc.*	97,436
	1,170	Quaker Chemical Corp.	222,078

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Materials – (continued)
	21,109	Ramaco Resources, Inc.	$       156,418
	37,172	Rayonier Advanced Materials, Inc.*	126,385
	18,457	Ryerson Holding Corp.	627,353
	14,317	Schnitzer Steel Industries, Inc., Class A	393,861
	8,073	Sensient Technologies Corp.	581,498
	3,843	Stepan Co.	353,364
	15,380	Summit Materials, Inc., Class A*	486,469
	39,040	SunCoke Energy, Inc.	265,082
	4,438	Sylvamo Corp.	174,946
	20,167	TimkenSteel Corp.*	343,444
	11,450	Tredegar Corp.	80,493
	9,550	TriMas Corp.	241,710
	100	Trinseo PLC	1,242
	22,628	Tronox Holdings PLC	240,762
	1,910	United States Lime & Minerals, Inc.	346,512
	23,536	Warrior Met Coal, Inc.	771,510
	6,886	Worthington Industries, Inc.	386,511
			18,353,113
	Real Estate – 6.2%
	15,343	Acadia Realty Trust REIT	197,464
	8,496	Agree Realty Corp. REIT	547,907
	24,540	Alexander & Baldwin, Inc. REIT	449,573
	542	Alexander’s, Inc. REIT	88,975
	8,253	American Assets Trust, Inc. REIT	157,220
	68,546	Anywhere Real Estate, Inc.*	416,074
	59,537	Apartment Investment and Management Co., Class A REIT	482,845
	39,290	Apple Hospitality REIT, Inc. REIT	570,884
	10,901	Armada Hoffler Properties, Inc. REIT	120,347
	27,001	Braemar Hotels & Resorts, Inc. REIT	110,434
	27,776	Brandywine Realty Trust REIT	108,326
	21,863	Broadstone Net Lease, Inc. REIT	342,812
	8,972	BRT Apartments Corp. REIT	164,726
	16,810	CareTrust REIT, Inc. REIT	326,114
	6,338	CBL & Associates Properties, Inc. REIT	146,154
	2,612	Centerspace REIT	153,612
	16,514	Chatham Lodging Trust REIT	155,066
	14,800	City Office REIT, Inc. REIT	67,044
	6,064	Community Healthcare Trust, Inc. REIT	198,899
	258,485	Compass, Inc., Class A*	956,394
	17,547	Corporate Office Properties Trust REIT	400,423
	11,225	CTO Realty Growth, Inc. REIT	178,926

Shares		Description	Value
	Common Stocks – (continued)
	Real Estate – (continued)
	65,820	Cushman & Wakefield PLC*	$       521,953
	31,464	DiamondRock Hospitality Co. REIT	246,992
	13,387	DigitalBridge Group, Inc.	166,802
	24,608	Diversified Healthcare Trust REIT	33,467
	41,049	Douglas Elliman, Inc.	119,453
	14,224	Easterly Government Properties, Inc. REIT	197,429
	10,500	Elme Communities REIT	158,655
	39,748	Empire State Realty Trust, Inc., Class A REIT	245,245
	10,417	Equity Commonwealth REIT	213,028
	11,606	Essential Properties Realty Trust, Inc. REIT	277,732
	64,600	eXp World Holdings, Inc.(a)	994,194
	11,320	Farmland Partners, Inc. REIT	128,482
	11,191	Forestar Group, Inc.*	227,513
	15,439	Four Corners Property Trust, Inc. REIT	396,782
	18,763	Franklin Street Properties Corp. REIT	27,019
	3,785	FRP Holdings, Inc.*	199,886
	8,588	Getty Realty Corp. REIT	294,311
	11,496	Gladstone Commercial Corp. REIT	134,388
	6,214	Gladstone Land Corp. REIT	98,243
	9,656	Global Medical REIT, Inc. REIT	84,200
	22,680	Global Net Lease, Inc. REIT	218,182
	29,575	Hersha Hospitality Trust, Class A REIT	171,239
	22,361	Independence Realty Trust, Inc. REIT	386,174
	32,565	Industrial Logistics Properties Trust REIT	58,943
	2,798	Innovative Industrial Properties, Inc. REIT	184,948
	6,896	InvenTrust Properties Corp. REIT	148,195
	18,010	Kennedy-Wilson Holdings, Inc.	277,894
	36,930	Kite Realty Group Trust REIT	717,919
	7,222	LTC Properties, Inc. REIT	231,898
	38,464	LXP Industrial Trust REIT	397,718
	28,081	Macerich Co. (The) REIT	270,701
	24,348	Marcus & Millichap, Inc.	714,614
	6,870	National Health Investors, Inc. REIT	357,996
	34,982	Necessity Retail REIT, Inc. (The) REIT	223,535
	5,485	NETSTREIT Corp. REIT	95,713
	32,306	Newmark Group, Inc., Class A	184,790
	6,038	NexPoint Residential Trust, Inc. REIT	247,800
	32,147	Offerpad Solutions, Inc.*	20,677
	17,810	Office Properties Income Trust REIT	128,944
	17,449	Orion Office REIT, Inc. REIT	96,842
	16,279	Outfront Media, Inc. REIT	233,115
	42,725	Paramount Group, Inc. REIT	185,426
	21,444	Pebblebrook Hotel Trust REIT	290,781

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Real Estate – (continued)
	9,653	Phillips Edison & Co., Inc. REIT	$       280,034
	31,592	Physicians Realty Trust REIT	431,547
	27,634	Piedmont Office Realty Trust, Inc., Class A REIT	172,160
	6,504	Plymouth Industrial REIT, Inc. REIT	142,503
	11,496	Postal Realty Trust, Inc., Class A REIT	168,761
	22,233	PotlatchDeltic Corp. REIT	1,034,501
	14,955	RE/MAX Holdings, Inc., Class A	279,509
	56,282	Redfin Corp.*	551,001
	20,282	Retail Opportunity Investments Corp. REIT	247,440
	23,077	RLJ Lodging Trust REIT	237,232
	11,181	RMR Group, Inc. (The), Class A	240,727
	24,253	RPT Realty REIT	226,038
	5,889	Ryman Hospitality Properties, Inc. REIT	540,198
	35,676	Sabra Health Care REIT, Inc. REIT	401,712
	3,141	Safehold, Inc. REIT	81,101
	2,541	Saul Centers, Inc. REIT	85,911
	36,767	Service Properties Trust REIT	301,857
	25,788	SITE Centers Corp. REIT	307,393
	5,929	St Joe Co. (The)	275,758
	23,404	STAG Industrial, Inc. REIT	814,459
	3,003	Star Holdings*	46,547
	36,274	Summit Hotel Properties, Inc. REIT	237,595
	31,592	Sunstone Hotel Investors, Inc. REIT	311,813
	22,053	Tanger Factory Outlet Centers, Inc. REIT	449,220
	10,250	Terreno Realty Corp. REIT	628,633
	11,049	UMH Properties, Inc. REIT	168,055
	43,948	Uniti Group, Inc. REIT	163,487
	3,027	Universal Health Realty Income Trust REIT	132,219
	12,395	Urban Edge Properties REIT	165,225
	467	Urstadt Biddle Properties, Inc., Class A REIT	9,036
	19,937	Veris Residential, Inc. REIT*	322,182
	21,848	Whitestone REIT	191,825
	16,482	Xenia Hotels & Resorts, Inc. REIT	192,015
			26,787,731
	Utilities – 3.8%
	11,489	ALLETE, Inc.	684,400
	11,014	American States Water Co.	978,263
	13,645	Avista Corp.	564,221
	12,321	Black Hills Corp.	750,965
	22,948	Brookfield Infrastructure Corp., Class A (Canada)(a)	1,057,903

Shares		Description	Value
	Common Stocks – (continued)
	Utilities – (continued)
	8,982	California Water Service Group	$       511,166
	4,592	Chesapeake Utilities Corp.	586,398
	27,424	Clearway Energy, Inc., Class A	753,612
	30,977	Clearway Energy, Inc., Class C	889,969
	7,417	MGE Energy, Inc.	532,244
	3,106	Middlesex Water Co.	252,704
	41,178	Montauk Renewables, Inc.*	285,775
	16,653	New Jersey Resources Corp.	806,838
	5,458	Northwest Natural Holding Co.	233,057
	10,860	NorthWestern Corp.	614,567
	12,282	ONE Gas, Inc.	994,105
	10,228	Ormat Technologies, Inc.	870,403
	13,237	Otter Tail Corp.	982,318
	17,636	PNM Resources, Inc.	809,845
	19,545	Portland General Electric Co.	952,428
	18,335	Pure Cycle Corp.*	178,216
	5,333	SJW Group	408,134
	11,322	Southwest Gas Holdings, Inc.	662,677
	9,288	Spire, Inc.	599,726
	6,669	Sunnova Energy International, Inc.*(a)	117,775
	5,181	Unitil Corp.	272,987
	47	Via Renewables, Inc.	494
	4,936	York Water Co. (The)	209,336
			16,560,526
Units		Description	Value
	Rights – 0.0%
	Health Care – 0.0%
	45,824	Radius Health, Inc.*(b)	$           3,666
	Industrials – 0.0%
	4,360	Distribution Solutions Group Inc*	0
	Materials – 0.0%
	15,501	Resolute Forest Products*(b)	22,011
	TOTAL RIGHTS (Cost $0)		$      ��  25,677
	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE (Cost $456,981,245)		$426,076,161

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Dividend Rate	Value
	Securities Lending Reinvestment Vehicle – 0.9%(c)
	Goldman Sachs Financial Square Government Fund – Institutional Shares
	3,875,402	5.003%	$    3,875,402
	(Cost $3,875,402)
	TOTAL INVESTMENTS – 99.9% (Cost $460,856,647)		$429,951,563
	OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.1%		382,477
	NET ASSETS – 100.0%		$430,334,040

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	All or a portion of security is on loan.
(b)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(c)	Represents an affiliated issuer.

Investment Abbreviations:
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® U.S. SMALL CAP EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At May 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount		Unrealized Appreciation/ (Depreciation)
Long position contracts:
E-Mini Russell 2000 Index	42	06/16/23	$	3,678,780	$	(59,751	)

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 99.4%
	Australia – 2.4%
	44,866	ANZ Group Holdings Ltd. (Financials)	$       665,483
	636	ASX Ltd. (Financials)	27,753
	104,626	Brambles Ltd. (Industrials)	930,318
	247,474	Coles Group Ltd. (Consumer Staples)	2,879,548
	63,583	Computershare Ltd. (Industrials)	920,064
	36,024	EBOS Group Ltd. (Health Care)	908,549
	471,605	Medibank Pvt Ltd. (Financials)	1,089,561
	59,648	National Australia Bank Ltd. (Financials)	1,002,473
	30,547	Sonic Healthcare Ltd. (Health Care)	695,653
	743,893	Telstra Group Ltd. (Communication Services)	2,098,950
	76,416	Wesfarmers Ltd. (Consumer Discretionary)	2,357,407
	23,063	Westpac Banking Corp. (Financials)	308,654
	95,721	Woolworths Group Ltd. (Consumer Staples)	2,325,447
			16,209,860
	Austria – 0.3%
	18,293	ANDRITZ AG (Industrials)	978,034
	9,249	Vienna Insurance Group AG Wiener Versicherung Gruppe (Financials)	239,607
	27,799	Wienerberger AG (Materials)	783,590
			2,001,231
	Belgium – 0.3%
	5,605	Ackermans & van Haaren NV (Industrials)	916,043
	1,888	Groupe Bruxelles Lambert NV (Financials)	145,082
	21,625	Warehouses De Pauw CVA REIT (Real Estate)	604,948
			1,666,073
	Canada – 4.3%
	10,008	Atco Ltd., Class I (Utilities)	307,242
	16,552	Bank of Montreal (Financials)	1,378,664
	34,848	Bank of Nova Scotia (The) (Financials)	1,681,000
	11,593	BCE, Inc. (Communication Services)	522,295
	5,819	Brookfield Asset Management Ltd., Class A (Financials)	177,657
	30,134	Canadian Imperial Bank of Commerce (Financials)	1,240,786
	13,069	Canadian Utilities Ltd., Class A (Utilities)	350,449
	28,351	CGI, Inc. (Information Technology)*	2,932,502
	5,877	Enbridge, Inc. (Energy)	206,622
	7,067	George Weston Ltd. (Consumer Staples)	830,176

Shares		Description	Value
	Common Stocks – (continued)
	Canada – (continued)
	72,954	Great-West Lifeco, Inc. (Financials)	$    2,062,549
	25,852	Hydro One Ltd. (Utilities)(a)	735,830
	10,840	Intact Financial Corp. (Financials)	1,595,417
	31,341	Loblaw Cos. Ltd. (Consumer Staples)	2,736,602
	14,190	Metro, Inc. (Consumer Staples)	745,463
	24,258	National Bank of Canada (Financials)	1,736,768
	24,123	Pembina Pipeline Corp. (Energy)	729,387
	100,310	Power Corp. of Canada (Financials)	2,593,168
	20,156	Quebecor, Inc., Class B (Communication Services)	479,989
	21,021	Royal Bank of Canada (Financials)	1,877,864
	32,674	Sun Life Financial, Inc. (Financials)	1,580,457
	3,787	TELUS Corp. (Communication Services)	71,656
	10,233	Thomson Reuters Corp. (Industrials)	1,299,507
	25,404	Toronto-Dominion Bank (The) (Financials)	1,436,065
			29,308,115
	Denmark – 0.1%
	15,308	Tryg A/S (Financials)	347,351
	Finland – 0.5%
	7,947	Elisa OYJ (Communication Services)	443,949
	26,878	Orion OYJ, Class B (Health Care)	1,134,437
	29,692	Sampo OYJ, Class A (Financials)	1,361,783
	24,824	UPM-Kymmene OYJ (Materials)	742,869
			3,683,038
	France – 2.6%
	7,626	Air Liquide SA (Materials)	1,273,496
	82,037	AXA SA (Financials)	2,310,247
	31,637	Bouygues SA (Industrials)	1,010,497
	6,620	Capgemini SE (Information Technology)	1,148,975
	89,730	Cie Generale des Etablissements Michelin (Consumer Discretionary)	2,540,761
	9,443	Dassault Systemes (Information Technology)	413,862
	3,460	Legrand SA (Industrials)*	326,303
	5,342	L’Oreal SA (Consumer Staples)	2,272,348
	399,351	Orange SA (Communication Services)	4,756,459
	2,055	Pernod Ricard SA (Consumer Staples)	442,768
	10,268	Thales SA (Industrials)	1,426,358
			17,922,074

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Germany – 1.8%
	3,208	Allianz SE (Financials)	$       683,942
	12,376	Beiersdorf AG (Consumer Staples)	1,572,072
	6,804	Deutsche Boerse AG (Financials)	1,171,480
	126,210	Deutsche Telekom AG (Communication Services)	2,791,292
	75,355	E.ON SE (Utilities)	908,600
	53,578	Evonik Industries AG (Materials)*	1,070,706
	3,268	Hannover Rueck SE (Financials)	697,500
	3,872	Henkel AG & Co. KGaA (Consumer Staples)	277,067
	2,877	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Financials)	1,024,435
	10,124	SAP SE (Information Technology)	1,318,713
	533	Symrise AG (Materials)	56,812
	11,939	Talanx AG (Financials)	663,774
			12,236,393
	Hong Kong – 0.4%
	151,504	CK Asset Holdings Ltd. (Real Estate)	816,717
	31,974	CLP Holdings Ltd. (Utilities)	233,017
	118,274	Link REIT (Real Estate)	687,442
	77,669	Power Assets Holdings Ltd. (Utilities)	418,197
	36,764	Sun Hung Kai Properties Ltd. (Real Estate)	468,224
			2,623,597
	Ireland – 0.1%
	4,825	Kerry Group PLC, Class A (Consumer Staples)	469,024
	Israel – 0.6%
	14,304	Check Point Software Technologies Ltd. (Information Technology)*	1,785,282
	13,155	First International Bank Of Israel Ltd. (The) (Financials)	495,212
	140,891	Mivne Real Estate KD Ltd. (Real Estate)	346,517
	37,973	Mizrahi Tefahot Bank Ltd. (Financials)	1,216,983
	67,319	Shufersal Ltd. (Consumer Staples)*	352,911
			4,196,905
	Italy – 0.6%
	172,268	Assicurazioni Generali SpA (Financials)	3,253,448
	61,251	Snam SpA (Utilities)	319,315
	48,698	Terna - Rete Elettrica Nazionale (Utilities)	406,614

Shares		Description	Value
	Common Stocks – (continued)
	Italy – (continued)
	108,004	UnipolSai Assicurazioni SpA (Financials)	$       254,927
			4,234,304
	Japan – 8.3%
	14,890	ANA Holdings, Inc. (Industrials)*	329,847
	54,491	Asahi Kasei Corp. (Materials)	369,930
	62,867	Astellas Pharma, Inc. (Health Care)	993,300
	21,073	Bridgestone Corp. (Consumer Discretionary)	856,404
	36,058	Brother Industries Ltd. (Information Technology)	522,359
	115,232	Canon, Inc. (Information Technology)	2,854,511
	35,531	Daiwa House Industry Co. Ltd. (Real Estate)	926,199
	124	Daiwa House REIT Investment Corp. REIT (Real Estate)	259,600
	76,193	Daiwa Securities Group, Inc. (Financials)	345,204
	48,156	FUJIFILM Holdings Corp. (Information Technology)	2,941,095
	5,621	Hankyu Hanshin Holdings, Inc. (Industrials)	178,428
	2,425	Hirose Electric Co. Ltd. (Information Technology)	328,390
	19,936	Hulic Co. Ltd. (Real Estate)	165,949
	78,274	Japan Post Bank Co. Ltd. (Financials)	583,210
	425,864	Japan Post Holdings Co. Ltd. (Financials)	3,000,845
	165,099	Japan Tobacco, Inc. (Consumer Staples)	3,592,320
	24,212	KDDI Corp. (Communication Services)	743,612
	45,956	Kirin Holdings Co. Ltd. (Consumer Staples)	684,003
	47,504	Kyocera Corp. (Information Technology)	2,694,891
	27,929	Kyushu Railway Co. (Industrials)	596,301
	20,448	McDonald’s Holdings Co. Japan Ltd. (Consumer Discretionary)	838,615
	43,408	MEIJI Holdings Co. Ltd. (Consumer Staples)	970,905
	77,035	Mitsubishi Estate Co. Ltd. (Real Estate)	883,850
	205,951	Mitsubishi HC Capital, Inc. (Financials)	1,115,878
	230,844	Mizuho Financial Group, Inc. (Financials)	3,392,068
	17,529	MS&AD Insurance Group Holdings, Inc. (Financials)	601,969
	10,979	NEC Corp. (Information Technology)	514,708
	9,645	NH Foods Ltd. (Consumer Staples)	262,327
	13,778	Nichirei Corp. (Consumer Staples)	294,465
	206,827	Nippon Telegraph & Telephone Corp. (Communication Services)	5,854,781
	38,789	Nisshin Seifun Group, Inc. (Consumer Staples)	485,574

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	5,508	Nissin Foods Holdings Co. Ltd. (Consumer Staples)	$       468,741
	128,238	Nomura Holdings, Inc. (Financials)	448,831
	56,956	Obayashi Corp. (Industrials)	458,208
	1,428	Obic Co. Ltd. (Information Technology)	230,888
	22,200	Ono Pharmaceutical Co. Ltd. (Health Care)	414,477
	26,776	Otsuka Holdings Co. Ltd. (Health Care)	991,391
	7,317	Secom Co. Ltd. (Industrials)	478,461
	12,058	Sekisui Chemical Co. Ltd. (Consumer Discretionary)	166,136
	129,280	Sekisui House Ltd. (Consumer Discretionary)	2,520,088
	399,383	SoftBank Corp. (Communication Services)	4,246,383
	68,430	Sumitomo Mitsui Financial Group, Inc. (Financials)	2,780,987
	88,780	Takeda Pharmaceutical Co. Ltd. (Health Care)	2,809,264
	5,880	Tobu Railway Co. Ltd. (Industrials)	153,613
	15,387	Tokyu Corp. (Industrials)	198,457
	14,279	Tosoh Corp. (Materials)	164,032
	31,199	Trend Micro, Inc. (Information Technology)	1,482,742
	20,933	USS Co. Ltd. (Consumer Discretionary)	339,956
			56,534,193
	Netherlands – 1.4%
	4,598	HAL Trust (Financials)	605,878
	1,550	Heineken Holding NV (Consumer Staples)	131,453
	149,842	Koninklijke Ahold Delhaize NV (Consumer Staples)	4,738,084
	106,340	Koninklijke KPN NV (Communication Services)	364,822
	32,120	Wolters Kluwer NV (Industrials)	3,657,168
			9,497,405
	New Zealand – 0.1%
	18,317	Mainfreight Ltd. (Industrials)	761,894
	Norway – 0.5%
	42,513	DNB Bank ASA (Financials)	708,871
	48,299	Gjensidige Forsikring ASA (Financials)	808,383
	43,784	SpareBank 1 SR-Bank ASA (Financials)	465,229
	96,902	Storebrand ASA (Financials)	697,440

Shares		Description	Value
	Common Stocks – (continued)
	Norway – (continued)
	94,202	Telenor ASA (Communication Services)	$       963,751
			3,643,674
	Portugal – 0.0%
	41,450	EDP – Energias de Portugal SA (Utilities)	201,594
	Singapore – 0.9%
	106,033	CapitaLand Ascendas REIT (Real Estate)	211,307
	7,799	DBS Group Holdings Ltd. (Financials)	174,417
	629,844	Genting Singapore Ltd. (Consumer Discretionary)	469,530
	232,846	Oversea-Chinese Banking Corp. Ltd. (Financials)	2,108,735
	86,450	Singapore Airlines Ltd. (Industrials)	409,008
	184,606	Singapore Exchange Ltd. (Financials)	1,264,453
	1,037	Singapore Telecommunications Ltd. (Communication Services)	1,906
	41,015	United Overseas Bank Ltd. (Financials)	846,123
	116,063	UOL Group Ltd. (Real Estate)	543,972
	33,692	Venture Corp. Ltd. (Information Technology)	377,243
			6,406,694
	Spain – 0.5%
	13,170	ACS Actividades de Construccion y Servicios SA (Industrials)	436,942
	8,615	Ferrovial SA (Industrials)	265,890
	33,973	Iberdrola SA (Utilities)	412,892
	33,313	Naturgy Energy Group SA (Utilities)	945,409
	51,215	Red Electrica Corp. SA (Utilities)	865,142
	157,039	Telefonica SA (Communication Services)	664,655
			3,590,930
	Sweden – 1.0%
	28,057	Axfood AB (Consumer Staples)	603,232
	9,102	Essity AB, Class B (Consumer Staples)	241,190
	6,069	Industrivarden AB, Class C (Financials)	161,768
	126,213	Investor AB, Class A (Financials)	2,587,207
	19,156	Investor AB, Class B (Financials)	388,362
	93,213	Svenska Handelsbanken AB, Class A (Financials)	734,323
	52,713	Swedbank AB, Class A (Financials)	804,237
	35,075	Tele2 AB, Class B (Communication Services)	317,762

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	Sweden – (continued)
	260,274	Telia Co. AB (Communication Services)	$       604,315
			6,442,396
	Switzerland – 1.5%
	33,868	Novartis AG (Health Care)	3,229,158
	28,065	SGS SA (Industrials)	2,481,841
	3,234	Swisscom AG (Communication Services)	2,040,553
	5,018	Zurich Insurance Group AG (Financials)	2,338,421
			10,089,973
	United Kingdom – 2.7%
	316,830	BAE Systems PLC (Industrials)	3,644,850
	37,928	British American Tobacco PLC (Consumer Staples)	1,200,819
	18,666	Bunzl PLC (Industrials)	727,354
	508,354	CK Hutchison Holdings Ltd. (Industrials)	3,074,833
	14,301	Diageo PLC (Consumer Staples)	593,245
	2,478	Halma PLC (Information Technology)	73,986
	77,898	National Grid PLC (Utilities)	1,067,808
	99,884	RELX PLC (Industrials)	3,107,287
	248,540	Sage Group PLC (The) (Information Technology)	2,683,034
	4,182	Severn Trent PLC (Utilities)	143,729
	596,601	Tesco PLC (Consumer Staples)	1,928,428
	6,030	Unilever PLC (Consumer Staples)	301,111
			18,546,484
	United States – 68.5%
	15,080	3M Co. (Industrials)	1,407,115
	9,013	Abbott Laboratories (Health Care)	919,326
	26,104	AbbVie, Inc. (Health Care)	3,601,308
	17,670	Accenture PLC, Class A (Information Technology)	5,405,606
	14,587	Activision Blizzard, Inc. (Communication Services)*	1,169,877
	8,354	Adobe, Inc. (Information Technology)*	3,490,218
	41,767	Aflac, Inc. (Financials)	2,681,859
	4,456	Agilent Technologies, Inc. (Health Care)	515,426
	4,167	Air Products and Chemicals, Inc. (Materials)	1,121,506
	21,715	Akamai Technologies, Inc. (Information Technology)*	2,000,386
	3,479	Alexandria Real Estate Equities, Inc. REIT (Real Estate)	394,727

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	35,875	Alphabet, Inc., Class A (Communication Services)*	$    4,407,961
	34,882	Alphabet, Inc., Class C (Communication Services)*	4,303,392
	6,967	Altria Group, Inc. (Consumer Staples)	309,474
	51,980	Amazon.com, Inc. (Consumer Discretionary)*	6,267,748
	31,780	Amdocs Ltd. (Information Technology)	2,992,723
	1,801	Ameren Corp. (Utilities)	146,007
	5,165	American Electric Power Co., Inc. (Utilities)	429,315
	13,947	AmerisourceBergen Corp. (Health Care)	2,373,082
	10,185	AMETEK, Inc. (Industrials)	1,477,538
	5,186	Amgen, Inc. (Health Care)	1,144,291
	38,911	Amphenol Corp., Class A (Information Technology)	2,935,835
	11,005	Analog Devices, Inc. (Information Technology)	1,955,478
	2,215	Aon PLC, Class A (Financials)	682,862
	126,249	Apple, Inc. (Information Technology)	22,377,635
	20,467	Arch Capital Group Ltd. (Financials)*	1,426,550
	39,910	Archer-Daniels-Midland Co. (Consumer Staples)	2,819,642
	10,515	Arthur J Gallagher & Co. (Financials)	2,106,470
	148,792	AT&T, Inc. (Communication Services)	2,340,498
	3,329	Automatic Data Processing, Inc. (Industrials)	695,728
	2,907	AutoZone, Inc. (Consumer Discretionary)*	6,938,544
	69,479	Bank of America Corp. (Financials)	1,930,821
	5,276	Baxter International, Inc. (Health Care)	214,839
	4,826	Becton Dickinson & Co. (Health Care)	1,166,734
	6,034	Berkshire Hathaway, Inc., Class B (Financials)*	1,937,397
	21,526	Boston Scientific Corp. (Health Care)*	1,108,158
	59,396	Bristol-Myers Squibb Co. (Health Care)	3,827,478
	2,966	Broadcom, Inc. (Information Technology)	2,396,409
	6,288	Broadridge Financial Solutions, Inc. (Industrials)	922,575
	17,590	Campbell Soup Co. (Consumer Staples)	889,175
	36,616	Cardinal Health, Inc. (Health Care)	3,013,497
	4,873	Cboe Global Markets, Inc. (Financials)	645,283
	16,216	CDW Corp. (Information Technology)	2,784,125
	30,528	C.H. Robinson Worldwide, Inc. (Industrials)	2,886,117
	20,579	Chevron Corp. (Energy)	3,099,609
	2,238	Chubb Ltd. (Financials)	415,820

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	10,611	Church & Dwight Co., Inc. (Consumer Staples)	$       980,987
	5,524	Cintas Corp. (Industrials)	2,608,101
	113,980	Cisco Systems, Inc. (Information Technology)	5,661,387
	53,051	Citigroup, Inc. (Financials)	2,351,220
	57,793	Coca-Cola Co. (The) (Consumer Staples)	3,447,930
	60,116	Cognizant Technology Solutions Corp., Class A (Information Technology)	3,756,649
	73,051	Colgate-Palmolive Co. (Consumer Staples)	5,433,533
	65,300	Comcast Corp., Class A (Communication Services)	2,569,555
	27,960	Conagra Brands, Inc. (Consumer Staples)	974,965
	18,888	Consolidated Edison, Inc. (Utilities)	1,762,250
	1,354	Constellation Brands, Inc., Class A (Consumer Staples)	328,981
	772	Cooper Cos., Inc. (The) (Health Care)	286,821
	23,509	Corning, Inc. (Information Technology)	724,312
	6,170	Corteva, Inc. (Materials)	330,033
	6,305	Costco Wholesale Corp. (Consumer Staples)	3,225,386
	1,795	CSL Ltd. (Health Care)	355,913
	11,672	CSX Corp. (Industrials)	357,980
	2,836	Cummins, Inc. (Industrials)	579,707
	60,159	CVS Health Corp. (Health Care)	4,092,617
	15,507	Dell Technologies, Inc., Class C (Information Technology)	694,869
	6,797	Dollar General Corp. (Consumer Staples)	1,366,809
	2,837	Dover Corp. (Industrials)	378,257
	52,961	Dow, Inc. (Materials)	2,583,438
	4,495	Eaton Corp. PLC (Industrials)	790,671
	5,759	Edison International (Utilities)	388,848
	6,046	Electronic Arts, Inc. (Communication Services)	773,888
	6,023	Elevance Health, Inc. (Health Care)	2,697,220
	7,321	Eli Lilly & Co. (Health Care)	3,144,077
	1,598	Everest Re Group Ltd. (Financials)	543,352
	16,455	Expeditors International of Washington, Inc. (Industrials)	1,815,151
	31,189	Exxon Mobil Corp. (Energy)	3,186,892
	80,716	Fastenal Co. (Industrials)	4,346,557
	51,903	Fidelity National Financial, Inc. (Financials)	1,771,968
	11,866	Fiserv, Inc. (Financials)*	1,331,247
	8,682	FleetCor Technologies, Inc. (Financials)*	1,966,907

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	18,480	Fortive Corp. (Industrials)	$    1,203,233
	7,719	Gartner, Inc. (Information Technology)*	2,646,536
	29,834	Gen Digital, Inc. (Information Technology)	523,288
	15,613	General Dynamics Corp. (Industrials)	3,187,862
	26,818	General Mills, Inc. (Consumer Staples)	2,257,003
	33,299	Genuine Parts Co. (Consumer Discretionary)	4,959,220
	60,111	Gilead Sciences, Inc. (Health Care)	4,624,940
	170,002	GSK PLC (Health Care)	2,836,873
	69,602	Haleon PLC (Consumer Staples)	274,495
	19,683	Hartford Financial Services Group, Inc. (The) (Financials)	1,348,679
	33,981	Henry Schein, Inc. (Health Care)*	2,511,196
	26,314	Hershey Co. (The) (Consumer Staples)	6,833,746
	147,597	Hewlett Packard Enterprise Co. (Information Technology)	2,128,349
	13,367	Hologic, Inc. (Health Care)*	1,054,523
	17,101	Home Depot, Inc. (The) (Consumer Discretionary)	4,847,278
	2,525	Honeywell International, Inc. (Industrials)	483,790
	17,506	Illinois Tool Works, Inc. (Industrials)	3,829,087
	10,136	Intel Corp. (Information Technology)	318,676
	28,154	International Business Machines Corp. (Information Technology)	3,620,323
	47,106	International Paper Co. (Materials)	1,386,801
	1,625	Intuit, Inc. (Information Technology)	681,070
	3,880	IQVIA Holdings, Inc. (Health Care)*	764,011
	5,651	J M Smucker Co. (The) (Consumer Staples)	828,380
	39,815	Johnson & Johnson (Health Care)	6,173,714
	17,481	JPMorgan Chase & Co. (Financials)	2,372,347
	14,527	Kellogg Co. (Consumer Staples)	969,968
	33,726	Keurig Dr Pepper, Inc. (Consumer Staples)	1,049,553
	26,439	Keysight Technologies, Inc. (Information Technology)*	4,277,830
	9,738	Kimberly-Clark Corp. (Consumer Staples)	1,307,619
	27,629	Kinder Morgan, Inc. (Energy)	445,103
	15,679	Kraft Heinz Co. (The) (Consumer Staples)	599,251
	4,131	L3Harris Technologies, Inc. (Industrials)	726,726
	11,875	Laboratory Corp. of America Holdings (Health Care)	2,523,794
	2,294	Linde PLC (Materials)	811,296
	4,870	Lockheed Martin Corp. (Industrials)	2,162,329
	36,792	Loews Corp. (Financials)	2,060,352
	24,416	Lowe’s Cos., Inc. (Consumer Discretionary)	4,910,790

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	388	Markel Group, Inc. (Financials)*	$       510,115
	28,474	Marsh & McLennan Cos., Inc. (Financials)	4,931,127
	54,593	Masco Corp. (Industrials)	2,637,934
	10,933	Mastercard, Inc., Class A (Financials)	3,990,764
	18,359	McDonald’s Corp. (Consumer Discretionary)	5,234,334
	8,901	McKesson Corp. (Health Care)	3,478,867
	41,531	Merck & Co., Inc. (Health Care)	4,585,438
	22,232	Meta Platforms, Inc., Class A (Communication Services)*	5,885,255
	10,262	MetLife, Inc. (Financials)	508,482
	55,297	Microsoft Corp. (Information Technology)	18,158,982
	36,087	Mondelez International, Inc., Class A (Consumer Staples)	2,649,147
	12,588	Monster Beverage Corp. (Consumer Staples)*	737,909
	12,197	Moody’s Corp. (Financials)	3,864,985
	19,163	Motorola Solutions, Inc. (Information Technology)	5,402,433
	14,322	Nasdaq, Inc. (Financials)	792,723
	13,074	Nestle SA (Consumer Staples)	1,543,165
	30,122	NetApp, Inc. (Information Technology)	1,998,595
	16,752	NiSource, Inc. (Utilities)	450,461
	2,236	Northrop Grumman Corp. (Industrials)	973,756
	9,033	NVIDIA Corp. (Information Technology)	3,417,545
	12,824	Omnicom Group, Inc. (Communication Services)	1,130,949
	11,335	Oracle Corp. (Information Technology)	1,200,830
	10,142	O’Reilly Automotive, Inc. (Consumer Discretionary)*	9,161,370
	14,984	Otis Worldwide Corp. (Industrials)	1,191,378
	32,023	PACCAR, Inc. (Industrials)	2,202,542
	1,713	Packaging Corp. of America (Materials)	212,463
	14,386	Paychex, Inc. (Industrials)	1,509,523
	36,747	PepsiCo, Inc. (Consumer Staples)	6,700,815
	48,361	Pfizer, Inc. (Health Care)	1,838,685
	20,940	Philip Morris International, Inc. (Consumer Staples)	1,884,809
	27,215	PPL Corp. (Utilities)	713,033
	28,340	Procter & Gamble Co. (The) (Consumer Staples)	4,038,450
	11,483	Progressive Corp. (The) (Financials)	1,468,791
	18,203	Quest Diagnostics, Inc. (Health Care)	2,414,628
	14,249	Raytheon Technologies Corp. (Industrials)	1,312,903
	13,004	Realty Income Corp. REIT (Real Estate)	772,958

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	3,705	Regeneron Pharmaceuticals, Inc. (Health Care)*	$    2,725,250
	22,065	Republic Services, Inc. (Industrials)	3,125,066
	5,972	Roche Holding AG (Health Care)	2,005,583
	6,585	Roche Holding AG (Health Care)	2,076,024
	4,717	Rockwell Automation, Inc. (Industrials)	1,314,156
	873	Roper Technologies, Inc. (Information Technology)	396,534
	20,521	Royalty Pharma PLC, Class A (Health Care)	671,858
	5,202	Salesforce, Inc. (Information Technology)*	1,162,023
	25,060	Sanofi (Health Care)	2,534,859
	5,574	Sherwin-Williams Co. (The) (Materials)	1,269,646
	176,035	Sirius XM Holdings, Inc. (Communication Services)	626,685
	2,870	Snap-on, Inc. (Industrials)	714,228
	12,551	Southern Co. (The) (Utilities)	875,432
	39,596	SS&C Technologies Holdings, Inc. (Industrials)	2,176,196
	13,620	Starbucks Corp. (Consumer Discretionary)	1,329,857
	3,585	Stryker Corp. (Health Care)	987,954
	7,616	Swiss Re AG (Financials)	759,975
	8,473	TE Connectivity Ltd. (Information Technology)	1,037,773
	19,974	Texas Instruments, Inc. (Information Technology)	3,473,079
	477	Thermo Fisher Scientific, Inc. (Health Care)	242,535
	31,312	TJX Cos., Inc. (The) (Consumer Discretionary)	2,404,448
	4,422	T-Mobile US, Inc. (Communication Services)*	606,920
	9,063	Travelers Cos., Inc. (The) (Financials)	1,533,822
	10,071	Tyson Foods, Inc., Class A (Consumer Staples)	509,995
	3,207	United Parcel Service, Inc., Class B (Industrials)	535,569
	13,029	UnitedHealth Group, Inc. (Health Care)	6,348,250
	24,169	VeriSign, Inc. (Information Technology)*	5,397,421
	111,644	Verizon Communications, Inc. (Communication Services)	3,977,876
	7,578	Vertex Pharmaceuticals, Inc. (Health Care)*	2,452,013
	24,069	VICI Properties, Inc. REIT (Real Estate)	744,454
	20,235	Visa, Inc., Class A (Financials)	4,472,542
	13,131	VMware, Inc., Class A (Information Technology)*	1,789,624

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – (continued)
	United States – (continued)
	20,044	W R Berkley Corp. (Financials)	$    1,116,050
	5,050	Walgreens Boots Alliance, Inc. (Consumer Staples)	153,369
	46,679	Walmart, Inc. (Consumer Staples)	6,855,745
	3,685	Waste Connections, Inc. (Industrials)	502,936
	21,796	Waste Management, Inc. (Industrials)	3,529,208
	12,977	W.P. Carey, Inc. REIT (Real Estate)	900,085
	8,541	W.W. Grainger, Inc. (Industrials)	5,543,280
	9,635	Xylem, Inc. (Industrials)	965,427
	43,261	Yum! Brands, Inc. (Consumer Discretionary)	5,567,258
	3,086	Zebra Technologies Corp., Class A (Information Technology)*	810,291
	8,611	Zoetis, Inc. (Health Care)	1,403,679
			466,355,792
	TOTAL COMMON STOCKS (Cost $687,628,888)		$676,968,994

Shares	Description	Rate	Value
Preferred Stock – 0.1%
Germany – 0.1%
4,584	Henkel AG & Co. KGaA (Consumer Staples)
(Cost $375,308)		2.48%	$       364,277
TOTAL INVESTMENTS – 99.5% (Cost $688,004,196)			$677,333,271
OTHER ASSETS IN EXCESS OF     LIABILITIES – 0.5%			3,444,159
NET ASSETS – 100.0%			$680,777,430

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*	Non-income producing security.
(a)	Exempt from registration under Rule 144A of the Securities Act of 1933.

Investment Abbreviations:
CVA	— Dutch Certification
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust

GOLDMAN SACHS ACTIVEBETA^® WORLD LOW VOL PLUS EQUITY ETF

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

Sector Name	% of Market Value
Information Technology		20.4	%
Financials		16.3
Health Care		13.9
Consumer Staples		13.4
Industrials		12.8
Consumer Discretionary		9.1
Communication Services		8.1
Materials		1.8
Utilities		1.8
Real Estate		1.3
Energy		1.1
TOTAL INVESTMENTS		100.0	%

GOLDMAN SACHS ACTIVE BETA® 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 — U.S. GAAP defines the fair value of a financial instrument as 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); the Funds’ policy is to use the market approach. 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 I measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. 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 I — 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. With respect to the Funds’ investments that do not have readily available market quotations, the Trustees have designated the Adviser as the valuation designee to perform fair valuations pursuant to rule 2a-5 under the Investment Company Action of 1940 (“Valuation Designee”) GSAM has day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds’ 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 l and Level 2 are as follows:

Equity Securities — Equity securities traded on a United States (“U.S.”) securities exchange or the NASDAQ system, or those located on certain foreign exchanges, including but not limited to the Americas, are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If there is no sale or official closing price or such price is believed by GSAM to not represent fair value, equity securities will be valued at the valid closing bid price for long positions and at the valid closing ask price for short positions (i.e. where there is sufficient volume, during normal exchange trading hours). If no valid bid/ask price is available, the equity security will be valued pursuant to the Valuation Procedures and consistent with applicable regulatory guidance. To the extent these investments are actively traded, they are classified as Level l of the fair value hierarchy, otherwise they are generally classified as Level 2. Certain equity securities containing unique attributes may be classified as Level 2.

Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price for long positions or the last ask price for short positions, and are generally classified as Level 2.

Underlying Funds (including Money Market Funds) — Underlying funds (“Underlying Funds”) include other investment companies and exchange-traded funds (“ETFs”). Investments in the Underlying Funds (except ETFs) are valued at the NAY per share on the day of valuation. ETFs are valued daily at the last sale price or official closing price on the principal exchange or system on which the investment is traded. Because the Funds invest in Underlying Funds that fluctuate in value, the Funds’ shares will correspondingly fluctuate in value. Underlying Funds are generally classified as Level I of the fair value hierarchy. To the extent that underlying ETFs are actively traded, they are classified as Level I of the fair value hierarchy, otherwise they are generally classified as Level 2. For information regarding an Underlying Fund’s accounting policies and investment holdings, please see the Underlying Fund’s shareholder report.

GOLDMAN SACHS ACTIVE BETA® ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Derivative Contracts — A derivative is an instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors. A Fund enters into derivative transactions to hedge against changes in interest rates, securities prices, and/or currency exchange rates, to increase total return, or to gain access to certain markets or attain exposure to other underliers. For financial reporting purposes, cash collateral that has been pledged to cover obligations of a Fund and cash collateral received, if any, is reported separately on the Statements of Assets and Liabilities as either due to broker/receivable for collateral on certain derivative contracts. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments.

Exchange-traded derivatives, including futures and options contracts, are generally valued at the last sale or settlement price on the exchange where they are principally traded. Exchange-traded options without settlement prices are generally valued at the last bid price for long positions and the last ask price for short positions on the exchange where they are principally traded. Exchange-traded derivatives typically fall within Level l of the fair value hierarchy. Over-the-counter (“OTC”) and centrally cleared derivatives are valued using market transactions and other market evidence, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources. Where models are used, the selection of a particular model to value OTC and centrally cleared derivatives depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC and centrally cleared derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC and centrally cleared derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence.

Futures Contracts — Futures contracts are contracts to buy or sell a standardized quantity of a specified commodity or security. Upon entering into a futures contract, a Fund deposits cash or securities in an account on behalf of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by a Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses.

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 a Fund’s investments may be determined under the Valuation Procedures. 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 NAY. 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 classified in the fair value hierarchy as of May 31, 2023:

ACTIVEBETA® EMERGING MARKETS EQUITY ETF
Investment Type	Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
Africa	$	34,157,392		$	—	$	—
Asia		781,488,346			23,226,964		129,655
Europe		20,630,216			—		—
North America		33,075,969			—		—
Oceania		687,203			—		—
South America		41,401,964			11,714,652		—
Securities Lending Reinvestment Vehicle		5,102,111			—		—
Total	$	916,543,201		$	34,941,616	$	129,655
ACTIVEBETA® EUROPE EQUITY ETF
Investment Type	Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
Africa	$	15,184		$	—	$	—
Asia		85,369			—		—
Europe		9,926,705			74,134		—
North America		1,060,233			—		—
Oceania		112,918			—		—
South America		9,181			—		—
Securities Lending Reinvestment Vehicle		278,459			—		—
Total	$	11,488,049		$	74,134	$	—
Derivative Type
Liabilities(b)
Futures Contracts	$	(1,295	)	$	—	$	—

GOLDMAN SACHS ACTIVE BETA® ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

ACTIVEBETA® INTERNATIONAL EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
Africa		$	2,975,888		$	—	$	—
Asia			748,109,922			—		—
Europe			1,555,854,146			11,878,527		—
North America			506,633,105			2,248,433		—
Oceania			199,494,667			—		—
South America			2,201,326			—		—
Securities Lending Reinvestment Vehicle			67,483,623			—		—
Total		$	3,082,752,677		$	14,126,960	$	—
Derivative Type
Liabilities(b)
Futures Contracts		$	(644,329	)	$	—	$	—
ACTIVEBETA® JAPAN EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
Asia		$	12,967,190		$	—	$	—
Securities Lending Reinvestment Vehicle			440,597			—		—
Total		$	13,407,787		$	—	$	—
Derivative Type
Assets(b)
Futures Contracts		$	8,665		$	—	$	—
ACTIVEBETA® PARIS-ALIGNED CLIMATE U.S. LARGE CAP EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
North America		$	8,642,570		$	—	$	—
Total		$	8,642,570		$	—	$	—
ACTIVEBETA® U.S. LARGE CAP EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
North America		$	10,745,478,382		$	—	$	—
Total		$	10,745,478,382		$	—	$	—
ACTIVEBETA® U.S. SMALL CAP EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets	��
Common Stock and/or Other Equity Investments(a)
Africa		$	611,359		$	—	$	—
Asia			2,102,827			—		—
Europe			2,380,137			—		—
North America			420,456,515			—		25,677
South America			499,646			—		—
Securities Lending Reinvestment Vehicle			3,875,402			—		—
Total		$	429,925,886		$	—	$	25,677
Derivative Type
Liabilities(b)
Futures Contracts		$	(59,751	)	$	—	$	—
ACTIVEBETA® WORLD LOW VOL PLUS EQUITY ETF
Investment Type		Level 1			Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)
Asia		$	69,761,389		$	—	$	—
Europe			94,571,944			364,277		—
North America			495,663,907			—		—
Oceania			16,971,754			—		—
Total		$	676,968,994		$	364,277	$	—

(a) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of NAV. Security valuations are based on the principal exchange or system on which they are traded, which may differ from country of domicile noted in table.

(b) Amount shown represents unrealized gain (loss) at period end.

GOLDMAN SACHS ACTIVE BETA® ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

For further information regarding security characteristics, see the Schedules of Investments.

D. Securities Lending — The Funds may lend their securities through a securities lending agent, the Bank of New York Mellon (“BNYM”), to certain qualified borrowers. In accordance with the Funds’ securities lending procedures, the Funds receive cash collateral at least equal to the market value of the securities on loan. The market value of the loaned securities is determined at the close of business of the Funds, at their last sale price or official closing price on the principal exchange or system on which they are traded, and any additional required collateral is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or become insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Dividend income received from securities on loan may not be subject to withholding taxes and therefore withholding taxes paid may differ from the amounts listed in the Statements of Operations. Loans of securities are terminable at any time and as such l) the remaining contractual maturities of the outstanding securities lending transactions are considered to be overnight and continuous and 2) the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

The Funds invest the cash collateral received in connection with securities lending transactions in the Goldman Sachs Financial Square Government Fund (“Government Money Market Fund”), an affiliated series of the Goldman Sachs Trust. The Government Money Market Fund is registered under the Act as an open end investment company, is subject to Rule 2a-7 under the Act, and is managed by GSAM, for which GSAM may receive a management fee of up to 0.16% on an annualized basis of the average daily net assets of the Government Money Market Fund.

In the event of a default by a borrower with respect to any loan, BNYM may exercise any and all remedies provided under the applicable borrower agreement to make the Funds whole. These remedies include purchasing replacement securities by applying the collateral held from the defaulting broker against the purchase cost of the replacement securities. If BNYM is unable to purchase replacement securities, BNYM will indemnify the Funds by paying the Funds an amount equal to the market value of the securities loaned minus the value of cash collateral received from the borrower for the loan, subject to an exclusion for any shortfalls resulting from a loss of value in such cash collateral due to reinvestment risk. The Funds’ master netting agreements with certain borrowers provide the right, in the event of a default (including bankruptcy or insolvency), for the non-defaulting party to liquidate the collateral and calculate net exposure to the defaulting party or request additional collateral. However, in the event of a default by a borrower, a resolution authority could determine that such rights are not enforceable due to the restrictions or prohibitions against the right of set-off that may be imposed in accordance with a particular jurisdiction’s bankruptcy or insolvency laws. The Funds’ loaned securities were all subject to enforceable Securities Lending Agreements and the value of the collateral was at least equal to the value of the cash received. The amounts of the Funds’ overnight and continuous agreements, which represent the gross amounts of recognized liabilities for securities lending transactions outstanding as of August 31, 2022, are disclosed as “Payable upon return of securities loaned” on the Statements of Assets and Liabilities, where applicable.

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

Derivatives Risk — The Funds’ use of derivatives and other similar instruments (collectively referred to in this paragraph as “derivatives”) may result in loss, including due to adverse market movements. Derivatives, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other assets and instruments, may increase market exposure and be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of the underlying assets or instruments may produce disproportionate losses to the Funds. Certain derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not, or lacks the capacity or authority to, fulfill its contractual obligations, liquidity risk, which includes the risk that the Funds will not be able to exit the derivative when it is advantageous to do so, and risks arising from margin requirements, which include the risk that the Funds will be required to pay additional margin or set aside additional collateral to maintain open derivative positions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Losses from derivatives can also result from a lack of correlation between changes in the value of derivative instruments and the portfolio assets (if any) being hedged.

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.

GOLDMAN SACHS ACTIVE BETA® ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Foreign Custody Risk — A Fund invests in foreign securities, and as such the Fund may hold such securities and cash with foreign banks, agents, and securities depositories appointed by the Fund’s custodian (each a “Foreign Custodian”). Some foreign custodians may be recently organized or new to the foreign custody business. In some countries, Foreign Custodians may be subject to little or no regulatory oversight over, or independent evaluation of, their operations. Further, the laws of certain countries may place limitations on a Fund’s ability to recover its assets if a Foreign Custodian enters bankruptcy. Investments in emerging markets may be subject to even greater custody risks than investments in more developed markets. Custody services in emerging market countries are very often undeveloped and may be considerably less well regulated than in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries.

Geographic Risk — If a Fund focuses its investments in securities of issuers located in a particular country or geographic region, the Fund may be subjected, to a greater extent than if its investments were less focused, to the risks of volatile economic cycles and/or conditions and developments that may be particular to that country or region, such as: adverse securities markets; adverse exchange rates; adverse social, political, regulatory, economic, business, environmental or other developments; or natural disasters.

Index Risk — GSAM (the “Index Provider”) constructs each Fund’s index (an “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. The Index Provider relies on third party data it believes to be reliable in constructing each Index, but it does not guarantee the accuracy or availability of such third party data. 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, the Calculation Agent 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, including an ETF, 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. ETFs are subject to risks that do not apply to conventional mutual funds, including, but not limited to, the following: (i) the market price of the ETF’s shares may trade at a premium or a discount to their NAY; and (ii) an active trading market for an ETF’s shares may not develop or be maintained.

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 NAY or sells Shares at a time when the market price is at a discount to the NAY, the shareholder may sustain losses. The Investment Adviser cannot predict whether Shares will trade below, at or above their NAY. 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 trading individually or in the aggregate at any point in time.

GOLDMAN SACHS ACTIVE BETA® ETFS

Schedule of Investments (continued)

May 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Tracking Error Risk — 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.