Goldman Sachs ETF Trust (GPRF) NPORT-P Goldman Sachs MarketBeta International Equity ETF (May 2024 report)

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

97.3%

Australia

–

0.0%

3,310

Yancoal

Australia

Ltd.

(Energy)

(a)

$

14,089

Brazil

–

3.7%

62,891

Ambev

SA

(Consumer

Staples)

138,326

8,387

Atacadao

SA

(Consumer

Staples)

15,830

78,976

B3

SA

–

Brasil

Bolsa

Balcao

(Financials)

160,781

21,868

Banco

Bradesco

SA

(Financials)

47,640

21,299

Banco

BTG

Pactual

SA

(Financials)

128,016

24,530

Banco

do

Brasil

SA

(Financials)

126,574

5,596

Banco

Santander

Brasil

SA

(Financials)

29,546

9,582

BB

Seguridade

Participacoes

SA

(Financials)

58,886

8,086

Caixa

Seguridade

Participacoes

SA

(Financials)

22,877

14,961

CCR

SA

(Industrials)

34,272

16,553

Centrais

Eletricas

Brasileiras

SA

(Utilities)

109,569

4,851

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

(Utilities)

68,171

5,689

Cia

Energetica

de

Minas

Gerais

(Utilities)

13,075

11,034

Cia

Paranaense

de

Energia

(Utilities)

17,089

9,407

Cia

Siderurgica

Nacional

SA

(Materials)

23,411

17,504

Cosan

SA

(Energy)*

45,360

2,945

CPFL

Energia

SA

(Utilities)

19,107

6,619

CSN

Mineracao

SA

(Materials)

6,221

4,051

Energisa

SA

(Utilities)

35,231

9,002

Eneva

SA

(Utilities)*

21,290

2,743

Engie

Brasil

Energia

SA

(Utilities)

22,619

13,961

Equatorial

Energia

SA

(Utilities)

77,643

66,899

Hapvida

Participacoes

e

Investimentos

SA

(Health

Care)*

(a)

50,787

5,947

Hypera

SA

(Health

Care)

30,720

6,424

Itau

Unibanco

Holding

SA

(Financials)

32,940

13,103

Klabin

SA

(Materials)

50,658

12,222

Localiza

Rent

a

Car

SA

(Industrials)

99,365

14,294

Lojas

Renner

SA

(Consumer

Discretionary)

35,682

4,270

Multiplan

Empreendimentos

Imobiliarios

SA

(Real

Estate)

18,442

12,724

Natura

&

Co.

Holding

SA

(Consumer

Staples)

35,951

3,057

Neoenergia

SA

(Utilities)

10,993

32,770

NU

Holdings

Ltd.,

Class

A

(Financials)*

389,308

2,841

Pagseguro

Digital

Ltd.,

Class

A

(Financials)*

34,802

52,818

Petroleo

Brasileiro

SA

(Energy)

409,009

Shares

Description

Value

a

Common

Stocks

–

(continued)

Brazil

–

(continued)

2,952

Porto

Seguro

SA

(Financials)

$

17,046

10,265

PRIO

SA

(Energy)

81,267

17,948

Raia

Drogasil

SA

(Consumer

Staples)

85,611

14,544

Rede

D’Or

Sao

Luiz

SA

(Health

Care)

(a)

75,987

17,383

Rumo

SA

(Industrials)

65,188

19,938

Sendas

Distribuidora

SA

(Consumer

Staples)*

46,205

3,607

StoneCo

Ltd.,

Class

A

(Financials)*

49,921

9,886

Suzano

SA

(Materials)

91,602

6,100

Telefonica

Brasil

SA

(Communication

Services)

50,254

11,796

TIM

SA

(Communication

Services)

35,595

7,829

TOTVS

SA

(Information

Technology)

42,781

10,322

Ultrapar

Participacoes

SA

(Energy)

45,504

55,986

Vale

SA

(Materials)

673,215

15,907

Vibra

Energia

SA

(Consumer

Discretionary)

65,192

21,165

WEG

SA

(Industrials)

151,212

5,534

XP,

Inc.,

Class

A

(Financials)

105,091

4,101,862

Chile

–

0.5%

645,675

Banco

de

Chile

(Financials)

76,603

1,319

Banco

de

Credito

e

Inversiones

SA

(Financials)

37,399

912,575

Banco

Santander

Chile

(Financials)

43,159

19,641

Cencosud

SA

(Consumer

Staples)

36,854

226,468

Cia

Sud

Americana

de

Vapores

SA

(Industrials)

14,659

17,654

Empresas

CMPC

SA

(Materials)

36,915

6,202

Empresas

Copec

SA

(Energy)

51,436

288,881

Enel

Americas

SA

(Utilities)

28,550

387,868

Enel

Chile

SA

(Utilities)

22,211

17,698

Falabella

SA

(Consumer

Discretionary)*

53,571

6,274,098

Latam

Airlines

Group

SA

(Industrials)

84,339

4,057

Quinenco

SA

(Industrials)

14,572

500,268

China

–

25.2%

6,365

360

Security

Technology,

Inc.,

Class

A

(Information

Technology)*

7,208

1,268

37

Interactive

Entertainment

Network

Technology

Group

Co.

Ltd.,

Class

A

(Communication

Services)

2,533

9,992

AAC

Technologies

Holdings,

Inc.

(Information

Technology)

30,716

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

700

Accelink

Technologies

Co.

Ltd.,

Class

A

(Information

Technology)

$

3,178

578

Advanced

Micro-Fabrication

Equipment

Inc

China,

Class

A

(Information

Technology)

10,319

724

AECC

Aero-Engine

Control

Co.

Ltd.,

Class

A

(Industrials)

2,042

2,062

AECC

Aviation

Power

Co.

Ltd.,

Class

A

(Industrials)

10,585

73,344

Agricultural

Bank

of

China

Ltd.,

Class

A

(Financials)

44,301

403,620

Agricultural

Bank

of

China

Ltd.,

Class

H

(Financials)

168,705

8,502

Aier

Eye

Hospital

Group

Co.

Ltd.,

Class

A

(Health

Care)

14,178

450

AIMA

Technology

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,144

6,084

Air

China

Ltd.,

Class

A

(Industrials)*

6,253

26,611

Air

China

Ltd.,

Class

H

(Industrials)*

(b)

14,150

2,426

Airtac

International

Group

(Industrials)

76,388

1,300

Aisino

Corp.,

Class

A

(Information

Technology)

1,436

5,776

Akeso,

Inc.

(Health

Care)*

(a)

32,485

226,707

Alibaba

Group

Holding

Ltd.

(Consumer

Discretionary)

2,170,471

12,764

Aluminum

Corp.

of

China

Ltd.,

Class

A

(Materials)

14,383

55,647

Aluminum

Corp.

of

China

Ltd.,

Class

H

(Materials)

41,540

578

Amlogic

Shanghai

Co.

Ltd.,

Class

A

(Information

Technology)

4,628

5,654

Angang

Steel

Co.

Ltd.,

Class

A

(Materials)

1,781

21,822

Angang

Steel

Co.

Ltd.,

Class

H

(Materials)

3,905

731

Angel

Yeast

Co.

Ltd.,

Class

A

(Consumer

Staples)

3,076

3,673

Anhui

Conch

Cement

Co.

Ltd.,

Class

A

(Materials)

12,134

17,450

Anhui

Conch

Cement

Co.

Ltd.,

Class

H

(Materials)

43,138

5,716

Anhui

Expressway

Co.

Ltd.,

Class

H

(Industrials)

7,204

895

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

A

(Consumer

Staples)

30,872

1,800

Anhui

Jianghuai

Automobile

Group

Corp.

Ltd.,

Class

A

(Consumer

Discretionary)*

3,990

305

Anhui

Kouzi

Distillery

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,763

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

562

Anhui

Yingjia

Distillery

Co.

Ltd.,

Class

A

(Consumer

Staples)

$

5,380

181

Anjoy

Foods

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,270

390

Anker

Innovations

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

3,763

18,268

ANTA

Sports

Products

Ltd.

(Consumer

Discretionary)

194,394

843

Apeloa

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

1,686

700

Asia

-

Potash

International

Investment

Guangzhou

Co.

Ltd.,

Class

A

(Materials)*

1,840

174

Asymchem

Laboratories

Tianjin

Co.

Ltd.,

Class

A

(Health

Care)

1,836

353

Asymchem

Laboratories

Tianjin

Co.

Ltd.,

Class

H

(Health

Care)

(a)

2,432

300

Autobio

Diagnostics

Co.

Ltd.,

Class

A

(Health

Care)

2,117

1,065

Autohome,

Inc.

ADR

(Communication

Services)

30,246

1,439

Avary

Holding

Shenzhen

Co.

Ltd.,

Class

A

(Information

Technology)

5,920

8,230

AVIC

Industry-Finance

Holdings

Co.

Ltd.,

Class

A

(Financials)

3,261

35,300

AviChina

Industry

&

Technology

Co.

Ltd.,

Class

H

(Industrials)

15,973

300

AVICOPTER

PLC,

Class

A

(Industrials)

1,719

4,400

BAIC

BluePark

New

Energy

Technology

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

4,474

4,038

Baidu,

Inc.

ADR

(Communication

Services)*

392,494

20,523

Bank

of

Beijing

Co.

Ltd.,

Class

A

(Financials)

16,434

3,400

Bank

of

Changsha

Co.

Ltd.,

Class

A

(Financials)

4,018

3,395

Bank

of

Chengdu

Co.

Ltd.,

Class

A

(Financials)

7,380

38,211

Bank

of

China

Ltd.,

Class

A

(Financials)

23,343

1,193,108

Bank

of

China

Ltd.,

Class

H

(Financials)

564,272

36,203

Bank

of

Communications

Co.

Ltd.,

Class

A

(Financials)

35,117

107,276

Bank

of

Communications

Co.

Ltd.,

Class

H

(Financials)

80,765

2,900

Bank

of

Guiyang

Co.

Ltd.,

Class

A

(Financials)

2,338

5,510

Bank

of

Hangzhou

Co.

Ltd.,

Class

A

(Financials)

10,303

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

13,562

Bank

of

Jiangsu

Co.

Ltd.,

Class

A

(Financials)

$

15,432

9,184

Bank

of

Nanjing

Co.

Ltd.,

Class

A

(Financials)

13,104

5,952

Bank

of

Ningbo

Co.

Ltd.,

Class

A

(Financials)

20,285

13,454

Bank

of

Shanghai

Co.

Ltd.,

Class

A

(Financials)

14,457

2,900

Bank

of

Suzhou

Co.

Ltd.,

Class

A

(Financials)*

3,192

6,736

Bank

of

Zhengzhou

Co.

Ltd.,

Class

A

(Financials)*

1,770

18,647

Baoshan

Iron

&

Steel

Co.

Ltd.,

Class

A

(Materials)

17,703

7,827

BBMG

Corp.,

Class

A

(Materials)

1,842

723

BeiGene

Ltd.

ADR

(Health

Care)*

107,619

6,100

Beijing

Capital

Eco-

Environment

Protection

Group

Co.

Ltd.,

Class

A

(Utilities)

2,459

300

Beijing

Compass

Technology

Development

Co.

Ltd.,

Class

A

(Financials)*

1,759

3,954

Beijing

Dabeinong

Technology

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,535

181

Beijing

Easpring

Material

Technology

Co.

Ltd.,

Class

A

(Industrials)

988

700

Beijing

E-Hualu

Information

Technology

Co.

Ltd.,

Class

A

(Information

Technology)*

1,793

2,349

Beijing

Enlight

Media

Co.

Ltd.,

Class

A

(Communication

Services)

2,938

7,380

Beijing

Enterprises

Holdings

Ltd.

(Utilities)

25,942

60,179

Beijing

Enterprises

Water

Group

Ltd.

(Utilities)

19,154

378

Beijing

Kingsoft

Office

Software,

Inc.,

Class

A

(Information

Technology)

13,460

1,011

Beijing

New

Building

Materials

PLC,

Class

A

(Industrials)

4,496

2,200

Beijing

Oriental

Yuhong

Waterproof

Technology

Co.

Ltd.,

Class

A

(Materials)

4,465

2,730

Beijing

Originwater

Technology

Co.

Ltd.,

Class

A

(Industrials)

1,758

200

Beijing

Roborock

Technology

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

11,471

1,443

Beijing

Shiji

Information

Technology

Co.

Ltd.,

Class

A

(Information

Technology)*

1,310

2,068

Beijing

Shougang

Co.

Ltd.,

Class

A

(Materials)*

888

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,300

Beijing

Tiantan

Biological

Products

Corp.

Ltd.,

Class

A

(Health

Care)

$

5,069

1,124

Beijing

Tongrentang

Co.

Ltd.,

Class

A

(Health

Care)

6,893

571

Beijing

United

Information

Technology

Co.

Ltd.,

Class

A

(Industrials)

1,746

590

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co.

Ltd.,

Class

A

(Health

Care)

5,530

2,200

Beijing

Yanjing

Brewery

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,833

36,200

Beijing-Shanghai

High

Speed

Railway

Co.

Ltd.,

Class

A

(Industrials)

25,203

6,900

Beiqi

Foton

Motor

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

2,335

253

Bethel

Automotive

Safety

Systems

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

1,249

181

Betta

Pharmaceuticals

Co.

Ltd.,

Class

A

(Health

Care)

942

434

BGI

Genomics

Co.

Ltd.,

Class

A

(Health

Care)

2,344

3,472

Bilibili,

Inc.,

Class

Z

(Communication

Services)*

(b)

49,351

578

Bloomage

Biotechnology

Corp.

Ltd.,

Class

A

(Health

Care)

4,663

2,200

Bluefocus

Intelligent

Communications

Group

Co.

Ltd.,

Class

A

(Communication

Services)*

1,825

3,253

BOC

Aviation

Ltd.

(Industrials)

(a)

24,117

51,199

BOC

Hong

Kong

Holdings

Ltd.

(Financials)

160,337

2,068

BOC

International

China

Co.

Ltd.,

Class

A

(Financials)

2,786

35,037

BOE

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)

19,669

41,750

Brilliance

China

Automotive

Holdings

Ltd.

(Consumer

Discretionary)

32,820

1,000

BTG

Hotels

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

1,979

1,595

BYD

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

50,260

14,238

BYD

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

399,658

849

By-health

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,766

10,514

C&D

International

Investment

Group

Ltd.

(Real

Estate)

21,180

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

2,200

Caida

Securities

Co.

Ltd.,

Class

A

(Financials)

$

2,031

3,957

Caitong

Securities

Co.

Ltd.,

Class

A

(Financials)

3,931

357

Cambricon

Technologies

Corp.

Ltd.,

Class

A

(Information

Technology)*

8,586

710

Canmax

Technologies

Co.

Ltd.,

Class

A

(Materials)

1,887

712

Cathay

Biotech,

Inc.,

Class

A

(Materials)

4,765

3,400

CECEP

Solar

Energy

Co.

Ltd.,

Class

A

(Utilities)

2,437

5,097

CECEP

Wind-Power

Corp.,

Class

A

(Utilities)

2,258

562

CETC

Cyberspace

Security

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

1,234

13,586

CGN

Power

Co.

Ltd.,

Class

A

(Utilities)

7,832

153,626

CGN

Power

Co.

Ltd.,

Class

H

(Utilities)*

(a)

58,714

381

Changchun

High-Tech

Industry

Group

Co.

Ltd.,

Class

A

(Health

Care)

5,494

5,088

Changjiang

Securities

Co.

Ltd.,

Class

A

(Financials)

3,864

181

Changzhou

Xingyu

Automotive

Lighting

Systems

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,060

1,421

Chaozhou

Three-Circle

Group

Co.

Ltd.,

Class

A

(Information

Technology)

5,688

843

Chengxin

Lithium

Group

Co.

Ltd.,

Class

A

(Materials)

1,878

1,300

Chifeng

Jilong

Gold

Mining

Co.

Ltd.,

Class

A

(Materials)

3,130

700

China

Automotive

Engineering

Research

Institute

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

1,857

2,349

China

Baoan

Group

Co.

Ltd.,

Class

A

(Industrials)

3,200

132,516

China

Cinda

Asset

Management

Co.

Ltd.,

Class

H

(Financials)

12,704

5,401

China

CITIC

Bank

Corp.

Ltd.,

Class

A

(Financials)

5,358

147,828

China

CITIC

Bank

Corp.

Ltd.,

Class

H

(Financials)

90,133

3,005

China

Coal

Energy

Co.

Ltd.,

Class

A

(Energy)

5,491

32,708

China

Coal

Energy

Co.

Ltd.,

Class

H

(Energy)

41,181

35,258

China

Communications

Services

Corp.

Ltd.,

Class

H

(Industrials)

16,991

8,788

China

Construction

Bank

Corp.,

Class

A

(Financials)

8,512

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,343,618

China

Construction

Bank

Corp.,

Class

H

(Financials)

$

951,465

3,668

China

CSSC

Holdings

Ltd.,

Class

A

(Industrials)

18,744

14,691

China

Eastern

Airlines

Corp.

Ltd.,

Class

A

(Industrials)*

7,984

30,778

China

Eastern

Airlines

Corp.

Ltd.,

Class

H

(Industrials)*

8,655

28,957

China

Energy

Engineering

Corp.

Ltd.,

Class

A

(Industrials)

8,725

91,667

China

Energy

Engineering

Corp.

Ltd.,

Class

H

(Industrials)*

10,428

39,151

China

Everbright

Bank

Co.

Ltd.,

Class

A

(Financials)

17,453

114,004

China

Everbright

Bank

Co.

Ltd.,

Class

H

(Financials)

36,576

54,833

China

Everbright

Environment

Group

Ltd.

(Industrials)

25,512

49,856

China

Feihe

Ltd.

(Consumer

Staples)

(a)

24,662

1,300

China

Film

Co.

Ltd.,

Class

A

(Communication

Services)*

2,057

5,800

China

First

Heavy

Industries

Co.

Ltd.,

Class

A

(Industrials)*

2,027

5,505

China

Galaxy

Securities

Co.

Ltd.,

Class

A

(Financials)

8,718

52,339

China

Galaxy

Securities

Co.

Ltd.,

Class

H

(Financials)

28,165

2,068

China

Great

Wall

Securities

Co.

Ltd.,

Class

A

(Financials)

2,063

2,737

China

Greatwall

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)

3,498

35,704

China

Hongqiao

Group

Ltd.

(Materials)

58,873

1,305

China

International

Capital

Corp.

Ltd.,

Class

A

(Financials)

5,660

22,275

China

International

Capital

Corp.

Ltd.,

Class

H

(Financials)

(a)

26,479

2,374

China

International

Marine

Containers

Group

Co.

Ltd.,

Class

A

(Industrials)

3,129

6,058

China

International

Marine

Containers

Group

Co.

Ltd.,

Class

H

(Industrials)

5,328

3,662

China

Jushi

Co.

Ltd.,

Class

A

(Materials)

5,774

1,674

China

Life

Insurance

Co.

Ltd.,

Class

A

(Financials)

7,221

106,169

China

Life

Insurance

Co.

Ltd.,

Class

H

(Financials)

150,364

5,397

China

Literature

Ltd.

(Communication

Services)*

(a)

18,143

49,285

China

Longyuan

Power

Group

Corp.

Ltd.,

Class

H

(Utilities)

44,917

18,561

China

Medical

System

Holdings

Ltd.

(Health

Care)

15,682

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

17,998

China

Merchants

Bank

Co.

Ltd.,

Class

A

(Financials)

$

84,889

53,993

China

Merchants

Bank

Co.

Ltd.,

Class

H

(Financials)

240,173

7,446

China

Merchants

Energy

Shipping

Co.

Ltd.,

Class

A

(Energy)

9,087

3,168

China

Merchants

Expressway

Network

&

Technology

Holdings

Co.

Ltd.,

Class

A

(Industrials)

5,122

18,828

China

Merchants

Port

Holdings

Co.

Ltd.

(Industrials)

26,762

6,879

China

Merchants

Securities

Co.

Ltd.,

Class

A

(Financials)

13,431

6,873

China

Merchants

Securities

Co.

Ltd.,

Class

H

(Financials)

(a)

5,719

5,941

China

Merchants

Shekou

Industrial

Zone

Holdings

Co.

Ltd.,

Class

A

(Real

Estate)*

7,888

33,132

China

Minsheng

Banking

Corp.

Ltd.,

Class

A

(Financials)

17,824

103,619

China

Minsheng

Banking

Corp.

Ltd.,

Class

H

(Financials)

39,205

64,648

China

National

Building

Material

Co.

Ltd.,

Class

H

(Materials)

25,865

5,659

China

National

Chemical

Engineering

Co.

Ltd.,

Class

A

(Industrials)

6,369

700

China

National

Medicines

Corp.

Ltd.,

Class

A

(Health

Care)

3,275

17,459

China

National

Nuclear

Power

Co.

Ltd.,

Class

A

(Utilities)

23,013

460

China

National

Software

&

Service

Co.

Ltd.,

Class

A

(Information

Technology)

1,941

16,252

China

Nonferrous

Mining

Corp.

Ltd.

(Materials)

15,560

3,172

China

Northern

Rare

Earth

Group

High-Tech

Co.

Ltd.,

Class

A

(Materials)

8,249

843

China

Oilfield

Services

Ltd.,

Class

A

(Energy)

2,096

28,285

China

Oilfield

Services

Ltd.,

Class

H

(Energy)

30,117

52,938

China

Overseas

Land

&

Investment

Ltd.

(Real

Estate)

99,741

19,129

China

Overseas

Property

Holdings

Ltd.

(Real

Estate)

12,935

6,072

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

A

(Financials)

24,044

36,045

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

H

(Financials)*

93,990

28,438

China

Petroleum

&

Chemical

Corp.,

Class

A

(Energy)

25,238

342,609

China

Petroleum

&

Chemical

Corp.,

Class

H

(Energy)

217,214

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

4,400

China

Petroleum

Engineering

Corp.,

Class

A

(Energy)

$

1,986

72,545

China

Power

International

Development

Ltd.

(Utilities)

34,124

4,113

China

Railway

Construction

Heavy

Industry

Corp.

Ltd.,

Class

A

(Industrials)

2,224

19,086

China

Railway

Group

Ltd.,

Class

A

(Industrials)

17,279

62,464

China

Railway

Group

Ltd.,

Class

H

(Industrials)

33,534

5,826

China

Railway

Signal

&

Communication

Corp.

Ltd.,

Class

A

(Information

Technology)

4,401

25,329

China

Railway

Signal

&

Communication

Corp.

Ltd.,

Class

H

(Information

Technology)

(a)

10,684

843

China

Rare

Earth

Resources

And

Technology

Co.

Ltd.,

Class

A

(Materials)

3,173

22,260

China

Resources

Beer

Holdings

Co.

Ltd.

(Consumer

Staples)

89,201

13,169

China

Resources

Gas

Group

Ltd.

(Utilities)

45,701

41,155

China

Resources

Land

Ltd.

(Real

Estate)

149,399

851

China

Resources

Microelectronics

Ltd.,

Class

A

(Information

Technology)

4,469

9,001

China

Resources

Mixc

Lifestyle

Services

Ltd.

(Real

Estate)

(a)

31,294

24,373

China

Resources

Pharmaceutical

Group

Ltd.

(Health

Care)

(a)

18,038

26,299

China

Resources

Power

Holdings

Co.

Ltd.

(Utilities)

74,460

843

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

7,057

75,800

China

Ruyi

Holdings

Ltd.

(Communication

Services)*

20,734

5,268

China

Shenhua

Energy

Co.

Ltd.,

Class

A

(Energy)

30,682

48,189

China

Shenhua

Energy

Co.

Ltd.,

Class

H

(Energy)

233,758

1,300

China

South

Publishing

&

Media

Group

Co.

Ltd.,

Class

A

(Communication

Services)

2,322

10,189

China

Southern

Airlines

Co.

Ltd.,

Class

A

(Industrials)*

8,243

25,846

China

Southern

Airlines

Co.

Ltd.,

Class

H

(Industrials)*

10,539

2,200

China

Southern

Power

Grid

Energy

Efficiency

&

Clean

Energy

Co.

Ltd.,

Class

A

(Industrials)

1,495

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,000

China

Southern

Power

Grid

Energy

Storage

Co.

Ltd.,

Class

A

(Utilities)

$

1,494

39,273

China

State

Construction

Engineering

Corp.

Ltd.,

Class

A

(Industrials)

30,422

27,572

China

State

Construction

International

Holdings

Ltd.

(Industrials)

36,512

1,305

China

Suntien

Green

Energy

Corp.

Ltd.,

Class

A

(Energy)

1,643

27,014

China

Suntien

Green

Energy

Corp.

Ltd.,

Class

H

(Energy)*

12,707

21,878

China

Taiping

Insurance

Holdings

Co.

Ltd.

(Financials)

23,630

26,711

China

Three

Gorges

Renewables

Group

Co.

Ltd.,

Class

A

(Utilities)

17,163

1,704

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

A

(Consumer

Discretionary)

16,646

1,326

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

H

(Consumer

Discretionary)

(a)(b)

10,568

619,052

China

Tower

Corp.

Ltd.,

Class

H

(Communication

Services)

(a)

72,798

48,527

China

Traditional

Chinese

Medicine

Holdings

Co.

Ltd.

(Health

Care)

26,176

29,541

China

United

Network

Communications

Ltd.,

Class

A

(Communication

Services)

18,575

9,061

China

Vanke

Co.

Ltd.,

Class

A

(Real

Estate)

10,285

33,070

China

Vanke

Co.

Ltd.,

Class

H

(Real

Estate)

22,699

4,400

China

XD

Electric

Co.

Ltd.,

Class

A

(Industrials)

4,105

20,527

China

Yangtze

Power

Co.

Ltd.,

Class

A

(Utilities)

75,155

562

China

Zhenhua

Group

Science

&

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

3,491

17,076

China

Zheshang

Bank

Co.

Ltd.,

Class

A

(Financials)*

7,001

49,757

China

Zheshang

Bank

Co.

Ltd.,

Class

H

(Financials)*

14,374

447

Chongqing

Brewery

Co.

Ltd.,

Class

A

(Consumer

Staples)

4,240

13,297

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

25,229

8,770

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

A

(Financials)

6,226

36,420

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

H

(Financials)

16,759

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

300

Chongqing

Taiji

Industry

Group

Co.

Ltd.,

Class

A

(Health

Care)*

$

1,472

1,922

Chongqing

Zhifei

Biological

Products

Co.

Ltd.,

Class

A

(Health

Care)

8,674

90,772

CITIC

Ltd.

(Industrials)

91,661

1,305

Citic

Pacific

Special

Steel

Group

Co.

Ltd.,

Class

A

(Materials)

2,709

10,487

CITIC

Securities

Co.

Ltd.,

Class

A

(Financials)

26,867

26,162

CITIC

Securities

Co.

Ltd.,

Class

H

(Financials)

40,597

15,998

CMOC

Group

Ltd.,

Class

A

(Materials)

18,358

51,801

CMOC

Group

Ltd.,

Class

H

(Materials)

47,740

786

CNGR

Advanced

Material

Co.

Ltd.,

Class

A

(Materials)

3,822

5,400

CNOOC

Energy

Technology

&

Services

Ltd.,

Class

A

(Energy)

3,106

3,392

CNPC

Capital

Co.

Ltd.,

Class

A

(Financials)

2,651

3,809

Contemporary

Amperex

Technology

Co.

Ltd.,

Class

A

(Industrials)

103,642

9,051

COSCO

SHIPPING

Development

Co.

Ltd.,

Class

A

(Industrials)

3,313

3,392

COSCO

SHIPPING

Energy

Transportation

Co.

Ltd.,

Class

A

(Energy)

8,223

20,242

COSCO

SHIPPING

Energy

Transportation

Co.

Ltd.,

Class

H

(Energy)

28,513

11,833

COSCO

SHIPPING

Holdings

Co.

Ltd.,

Class

A

(Industrials)

24,487

46,496

COSCO

SHIPPING

Holdings

Co.

Ltd.,

Class

H

(Industrials)

77,619

203,775

Country

Garden

Holdings

Co.

Ltd.

(Real

Estate)*

(b)(c)

—

33,517

Country

Garden

Services

Holdings

Co.

Ltd.

(Real

Estate)

24,377

22,300

CRRC

Corp.

Ltd.,

Class

A

(Industrials)

21,386

67,555

CRRC

Corp.

Ltd.,

Class

H

(Industrials)

40,412

2,592

CSC

Financial

Co.

Ltd.,

Class

A

(Financials)

7,546

14,194

CSC

Financial

Co.

Ltd.,

Class

H

(Financials)

(a)

11,339

840

CSPC

Innovation

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

3,620

1,000

CSSC

Science

&

Technology

Co.

Ltd.,

Class

A

(Industrials)*

2,120

13,868

Daqin

Railway

Co.

Ltd.,

Class

A

(Industrials)

13,490

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

718

DaShenLin

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

$

1,983

5,654

Datang

International

Power

Generation

Co.

Ltd.,

Class

A

(Utilities)

2,357

43,804

Datang

International

Power

Generation

Co.

Ltd.,

Class

H

(Utilities)

9,015

2,730

DHC

Software

Co.

Ltd.,

Class

A

(Information

Technology)

1,882

726

Do-Fluoride

New

Materials

Co.

Ltd.,

Class

A

(Materials)

1,328

458

Dong-E-E-Jiao

Co.

Ltd.,

Class

A

(Health

Care)

4,267

2,203

Dongfang

Electric

Corp.

Ltd.,

Class

A

(Industrials)

5,571

5,296

Dongfang

Electric

Corp.

Ltd.,

Class

H

(Industrials)

(b)

8,530

29,489

Dongfeng

Motor

Group

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

9,536

2,765

Dongxing

Securities

Co.

Ltd.,

Class

A

(Financials)

3,184

6,721

East

Buy

Holding

Ltd.

(Consumer

Staples)*

(a)(b)

15,756

13,881

East

Money

Information

Co.

Ltd.,

Class

A

(Financials)

23,702

1,200

Eastern

Air

Logistics

Co.

Ltd.,

Class

A

(Industrials)*

3,296

181

Eastroc

Beverage

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

5,329

5,100

Easyhome

New

Retail

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

1,986

562

Ecovacs

Robotics

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,858

300

Empyrean

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

3,276

10,872

ENN

Energy

Holdings

Ltd.

(Utilities)

99,640

1,930

ENN

Natural

Gas

Co.

Ltd.,

Class

A

(Utilities)

4,830

440

Eoptolink

Technology,

Inc.

Ltd.,

Class

A

(Information

Technology)

5,251

1,800

Eve

Energy

Co.

Ltd.,

Class

A

(Industrials)

9,703

3,547

Everbright

Securities

Co.

Ltd.,

Class

A

(Financials)

7,701

8,870

Everdisplay

Optronics

Shanghai

Co.

Ltd.,

Class

A

(Information

Technology)*

2,526

4,120

Fangda

Carbon

New

Material

Co.

Ltd.,

Class

A

(Industrials)*

2,749

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

19,845

Far

East

Horizon

Ltd.

(Financials)

$

15,930

945

Farasis

Energy

Gan

Zhou

Co.

Ltd.,

Class

A

(Industrials)*

1,538

2,083

FAW

Jiefang

Group

Co.

Ltd.,

Class

A

(Industrials)*

2,413

1,000

Fiberhome

Telecommunication

Technologies

Co.

Ltd.,

Class

A

(Information

Technology)

2,214

3,954

First

Capital

Securities

Co.

Ltd.,

Class

A

(Financials)

2,938

979

Flat

Glass

Group

Co.

Ltd.,

Class

A

(Information

Technology)

3,316

6,661

Flat

Glass

Group

Co.

Ltd.,

Class

H

(Information

Technology)

(b)

13,470

13,340

Focus

Media

Information

Technology

Co.

Ltd.,

Class

A

(Communication

Services)

11,637

3,692

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.,

Class

A

(Consumer

Staples)

18,186

7,300

Founder

Securities

Co.

Ltd.,

Class

A

(Financials)

8,276

9,194

Foxconn

Industrial

Internet

Co.

Ltd.,

Class

A

(Information

Technology)

28,981

1,800

Fujian

Funeng

Co.

Ltd.,

Class

A

(Utilities)

2,655

300

Fujian

Kuncai

Material

Technology

Co.

Ltd.,

Class

A

(Materials)*

1,649

864

Fujian

Sunner

Development

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,953

11,321

Full

Truck

Alliance

Co.

Ltd.

ADR

(Industrials)

100,078

1,674

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

10,650

8,952

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

(a)

50,519

1,433

GalaxyCore,

Inc.,

Class

A

(Information

Technology)

2,670

300

Gan

&

Lee

Pharmaceuticals

Co.

Ltd.,

Class

A

(Health

Care)*

2,003

1,122

Ganfeng

Lithium

Group

Co.

Ltd.,

Class

A

(Materials)

5,192

6,053

Ganfeng

Lithium

Group

Co.

Ltd.,

Class

H

(Materials)

(a)(b)

16,673

17,078

GD

Power

Development

Co.

Ltd.,

Class

A

(Utilities)

12,618

10,329

GDS

Holdings

Ltd.,

Class

A

(Information

Technology)*

9,968

4,235

GEM

Co.

Ltd.,

Class

A

(Materials)

3,822

3,824

Gemdale

Corp.,

Class

A

(Real

Estate)

2,226

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

17,141

Genscript

Biotech

Corp.

(Health

Care)*

$

21,910

5,652

GF

Securities

Co.

Ltd.,

Class

A

(Financials)

10,008

15,205

GF

Securities

Co.

Ltd.,

Class

H

(Financials)

13,760

5,328

Giant

Biogene

Holding

Co.

Ltd.

(Consumer

Staples)*

(a)

33,677

1,800

Giant

Network

Group

Co.

Ltd.,

Class

A

(Communication

Services)

2,573

448

GigaDevice

Semiconductor,

Inc.,

Class

A

(Information

Technology)

5,123

322

Ginlong

Technologies

Co.

Ltd.,

Class

A

(Industrials)

2,543

1,000

Glodon

Co.

Ltd.,

Class

A

(Information

Technology)

1,608

2,890

GoerTek,

Inc.,

Class

A

(Information

Technology)

6,835

2,761

Goldwind

Science

&

Technology

Co.

Ltd.,

Class

A

(Industrials)

2,963

12,100

Goldwind

Science

&

Technology

Co.

Ltd.,

Class

H

(Industrials)

5,599

348

Goneo

Group

Co.

Ltd.,

Class

A

(Industrials)

5,796

1,124

Gotion

High-tech

Co.

Ltd.,

Class

A

(Industrials)*

3,139

1,955

Great

Wall

Motor

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

6,986

34,750

Great

Wall

Motor

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

59,876

5,097

Gree

Electric

Appliances,

Inc.

of

Zhuhai,

Class

A

(Consumer

Discretionary)

28,543

8,900

Greenland

Holdings

Corp.

Ltd.,

Class

A

(Real

Estate)*

2,302

15,572

Greentown

China

Holdings

Ltd.

(Real

Estate)

15,187

2,200

GRG

Banking

Equipment

Co.

Ltd.,

Class

A

(Information

Technology)

3,260

1,800

Guangdong

Electric

Power

Development

Co.

Ltd.,

Class

A

(Utilities)*

1,424

1,268

Guangdong

Haid

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

8,838

2,600

Guangdong

HEC

Technology

Holding

Co.

Ltd.,

Class

A

(Materials)*

2,994

43,797

Guangdong

Investment

Ltd.

(Utilities)

24,744

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

181

Guangdong

Kinlong

Hardware

Products

Co.

Ltd.,

Class

A

(Industrials)

$

947

6,222

Guanghui

Energy

Co.

Ltd.,

Class

A

(Energy)

6,857

20,423

Guangshen

Railway

Co.

Ltd.,

Class

H

(Industrials)*

5,717

2,097

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,429

44,107

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

18,323

1,800

Guangzhou

Baiyun

International

Airport

Co.

Ltd.,

Class

A

(Industrials)*

2,511

1,116

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co.

Ltd.,

Class

A

(Health

Care)

4,822

3,414

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co.

Ltd.,

Class

H

(Health

Care)

9,710

181

Guangzhou

Great

Power

Energy

&

Technology

Co.

Ltd.,

Class

A

(Industrials)

561

1,800

Guangzhou

Haige

Communications

Group,

Inc.

Co.,

Class

A

(Information

Technology)

2,682

447

Guangzhou

Kingmed

Diagnostics

Group

Co.

Ltd.,

Class

A

(Health

Care)

2,071

458

Guangzhou

Shiyuan

Electronic

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,068

1,786

Guangzhou

Tinci

Materials

Technology

Co.

Ltd.,

Class

A

(Materials)

4,804

2,385

Guangzhou

Yuexiu

Capital

Holdings

Group

Co.

Ltd.,

Class

A

(Financials)

1,818

1,800

Guolian

Securities

Co.

Ltd.,

Class

A

(Financials)*

2,700

6,160

Guolian

Securities

Co.

Ltd.,

Class

H

(Financials)*

2,653

4,262

Guosen

Securities

Co.

Ltd.,

Class

A

(Financials)

5,243

6,742

Guotai

Junan

Securities

Co.

Ltd.,

Class

A

(Financials)

12,931

12,924

Guotai

Junan

Securities

Co.

Ltd.,

Class

H

(Financials)

(a)

13,711

4,236

Guoyuan

Securities

Co.

Ltd.,

Class

A

(Financials)

3,742

2,714

H

World

Group

Ltd.

ADR

(Consumer

Discretionary)

101,042

25,331

Haidilao

International

Holding

Ltd.

(Consumer

Discretionary)

(a)

56,209

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

5,655

Haier

Smart

Home

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

$

22,984

33,126

Haier

Smart

Home

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

119,829

38,200

Hainan

Airlines

Holding

Co.

Ltd.,

Class

A

(Industrials)*

7,148

10,200

Hainan

Airport

Infrastructure

Co.

Ltd.,

Class

A

(Real

Estate)*

4,800

300

Hainan

Drinda

New

Energy

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,143

700

Haisco

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Health

Care)

2,951

9,465

Haitian

International

Holdings

Ltd.

(Industrials)

28,855

8,626

Haitong

Securities

Co.

Ltd.,

Class

A

(Financials)

9,839

39,476

Haitong

Securities

Co.

Ltd.,

Class

H

(Financials)

19,376

705

Han’s

Laser

Technology

Industry

Group

Co.

Ltd.,

Class

A

(Industrials)

1,986

1,000

Hang

Zhou

Great

Star

Industrial

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,496

980

Hangcha

Group

Co.

Ltd.,

Class

A

(Industrials)

2,698

700

Hangjin

Technology

Co.

Ltd.,

Class

A

(Materials)

2,413

2,730

Hangzhou

Binjiang

Real

Estate

Group

Co.

Ltd.,

Class

A

(Real

Estate)

3,114

562

Hangzhou

Chang

Chuan

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,196

1,666

Hangzhou

First

Applied

Material

Co.

Ltd.,

Class

A

(Information

Technology)*

5,944

562

Hangzhou

Lion

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)

1,648

843

Hangzhou

Oxygen

Plant

Group

Co.

Ltd.,

Class

A

(Materials)

2,900

711

Hangzhou

Robam

Appliances

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,356

843

Hangzhou

Silan

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)*

2,179

574

Hangzhou

Tigermed

Consulting

Co.

Ltd.,

Class

A

(Health

Care)

4,259

1,930

Hangzhou

Tigermed

Consulting

Co.

Ltd.,

Class

H

(Health

Care)*

(a)

8,116

15,331

Hansoh

Pharmaceutical

Group

Co.

Ltd.

(Health

Care)

(a)

31,472

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

562

Haohua

Chemical

Science

&

Technology

Co.

Ltd.,

Class

A

(Materials)

$

2,339

700

Hebei

Hengshui

Laobaigan

Liquor

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,154

300

Hebei

Sinopack

Electronic

Technology

Co.

Ltd.,

Class

A

(Information

Technology)*

2,600

1,000

Hebei

Yangyuan

Zhihui

Beverage

Co.

Ltd.,

Class

A

(Consumer

Staples)*

3,517

700

Hefei

Meiya

Optoelectronic

Technology,

Inc.,

Class

A

(Industrials)

1,626

1,300

Heilongjiang

Agriculture

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,322

2,068

Henan

Shenhuo

Coal

Industry

&

Electricity

Power

Co.

Ltd.,

Class

A

(Materials)

6,581

2,730

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.,

Class

A

(Consumer

Staples)

9,518

8,602

Hengan

International

Group

Co.

Ltd.

(Consumer

Staples)

29,907

1,305

Hengdian

Group

DMEGC

Magnetics

Co.

Ltd.,

Class

A

(Information

Technology)

2,487

5,659

Hengli

Petrochemical

Co.

Ltd.,

Class

A

(Materials)

11,158

2,068

Hengtong

Optic-electric

Co.

Ltd.,

Class

A

(Information

Technology)

4,257

3,952

Hengyi

Petrochemical

Co.

Ltd.,

Class

A

(Materials)*

3,899

9,199

Hesteel

Co.

Ltd.,

Class

A

(Materials)

2,721

800

Hisense

Home

Appliances

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

4,477

4,936

Hisense

Home

Appliances

Group

Co.

Ltd.,

Class

H

(Consumer

Discretionary)

22,398

1,000

Hisense

Visual

Technology

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,769

424

Hithink

RoyalFlush

Information

Network

Co.

Ltd.,

Class

A

(Financials)

6,805

2,900

HLA

Group

Corp.

Ltd.,

Class

A

(Consumer

Discretionary)

3,858

1,800

Hongta

Securities

Co.

Ltd.,

Class

A

(Financials)

1,704

562

Hoshine

Silicon

Industry

Co.

Ltd.,

Class

A

(Materials)*

4,083

459

Hoyuan

Green

Energy

Co.

Ltd.,

Class

A

(Information

Technology)

1,334

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

11,852

Hua

Hong

Semiconductor

Ltd.

(Information

Technology)*

(a)

$

29,390

4,100

Huaan

Securities

Co.

Ltd.,

Class

A

(Financials)

2,595

6,095

Huadian

Power

International

Corp.

Ltd.,

Class

A

(Utilities)

5,543

27,464

Huadian

Power

International

Corp.

Ltd.,

Class

H

(Utilities)

(b)

15,938

1,421

Huadong

Medicine

Co.

Ltd.,

Class

A

(Health

Care)

6,184

4,373

Huafon

Chemical

Co.

Ltd.,

Class

A

(Materials)

4,543

700

Huagong

Tech

Co.

Ltd.,

Class

A

(Information

Technology)*

2,886

2,068

Huaibei

Mining

Holdings

Co.

Ltd.,

Class

A

(Materials)

5,611

1,302

Hualan

Biological

Engineering,

Inc.,

Class

A

(Health

Care)

3,255

300

Huali

Industrial

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,793

4,511

Huaneng

Lancang

River

Hydropower,

Inc.,

Class

A

(Utilities)

6,138

6,765

Huaneng

Power

International,

Inc.,

Class

A

(Utilities)*

8,340

59,876

Huaneng

Power

International,

Inc.,

Class

H

(Utilities)*

39,645

7,165

Huatai

Securities

Co.

Ltd.,

Class

A

(Financials)

13,388

19,890

Huatai

Securities

Co.

Ltd.,

Class

H

(Financials)

(a)

22,627

2,613

Huaxi

Securities

Co.

Ltd.,

Class

A

(Financials)

2,513

11,848

Huaxia

Bank

Co.

Ltd.,

Class

A

(Financials)

11,232

300

Huaxia

Eye

Hospital

Group

Co.

Ltd.,

Class

A

(Health

Care)

1,008

1,124

Huaxin

Cement

Co.

Ltd.,

Class

A

(Materials)

2,293

2,731

Huayu

Automotive

Systems

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

6,038

3,673

Hubei

Energy

Group

Co.

Ltd.,

Class

A

(Utilities)

2,992

300

Hubei

Feilihua

Quartz

Glass

Co.

Ltd.,

Class

A

(Materials)

1,327

700

Hubei

Jumpcan

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

3,669

843

Hubei

Xingfa

Chemicals

Group

Co.

Ltd.,

Class

A

(Materials)

2,507

562

Huizhou

Desay

Sv

Automotive

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

7,766

1,124

Humanwell

Healthcare

Group

Co.

Ltd.,

Class

A

(Health

Care)

2,985

1,527

Hunan

Changyuan

Lico

Co.

Ltd.,

Class

A

(Industrials)

1,086

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

6,884

Hunan

Valin

Steel

Co.

Ltd.,

Class

A

(Materials)

$

5,001

1,654

Hundsun

Technologies,

Inc.,

Class

A

(Information

Technology)

4,567

200

Hwatsing

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

4,842

5,191

Hygeia

Healthcare

Holdings

Co.

Ltd.

(Health

Care)

(a)

21,730

1,442

Hygon

Information

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

14,146

1,124

IEIT

Systems

Co.

Ltd.,

Class

A

(Information

Technology)

5,631

2,066

Iflytek

Co.

Ltd.,

Class

A

(Information

Technology)

11,996

700

IKD

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

1,673

253

Imeik

Technology

Development

Co.

Ltd.,

Class

A

(Health

Care)

7,001

55,958

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

A

(Financials)

41,807

986,105

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

H

(Financials)

557,125

18,411

Industrial

Bank

Co.

Ltd.,

Class

A

(Financials)

45,319

6,203

Industrial

Securities

Co.

Ltd.,

Class

A

(Financials)

4,575

181

Ingenic

Semiconductor

Co.

Ltd.,

Class

A

(Information

Technology)

1,450

42,621

Inner

Mongolia

BaoTou

Steel

Union

Co.

Ltd.,

Class

A

(Materials)*

9,031

1,800

Inner

Mongolia

Dian

Tou

Energy

Corp.

Ltd.,

Class

A

(Energy)

5,634

3,911

Inner

Mongolia

ERDOS

Resources

Co.

Ltd.,

Class

A

(Materials)

6,474

7,700

Inner

Mongolia

Junzheng

Energy

&

Chemical

Industry

Group

Co.

Ltd.,

Class

A

(Materials)

4,630

5,800

Inner

Mongolia

MengDian

HuaNeng

Thermal

Power

Corp.

Ltd.,

Class

A

(Utilities)

3,623

5,787

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

22,541

2,558

Inner

Mongolia

Yitai

Coal

Co.

Ltd.,

Class

H

(Energy)*

(c)

—

3,392

Inner

Mongolia

Yuan

Xing

Energy

Co.

Ltd.,

Class

A

(Materials)

3,402

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

17,385

Innovent

Biologics,

Inc.

(Health

Care)*

(a)

$

78,221

6,923

iQIYI,

Inc.

ADR

(Communication

Services)*

32,054

3,100

IRICO

Display

Devices

Co.

Ltd.,

Class

A

(Information

Technology)*

3,024

450

Isoftstone

Information

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)*

2,463

2,900

JA

Solar

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

6,025

574

Jafron

Biomedical

Co.

Ltd.,

Class

A

(Health

Care)

2,178

711

Jason

Furniture

Hangzhou

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,506

1,305

JCET

Group

Co.

Ltd.,

Class

A

(Information

Technology)

4,663

500

JCHX

Mining

Management

Co.

Ltd.,

Class

A

(Materials)

3,912

14,799

JD

Health

International,

Inc.

(Consumer

Staples)*

(a)

49,467

26,911

JD

Logistics,

Inc.

(Industrials)*

(a)

29,307

34,803

JD.com,

Inc.,

Class

A

(Consumer

Discretionary)

506,696

5,673

Jiangsu

Eastern

Shenghong

Co.

Ltd.,

Class

A

(Materials)*

6,978

843

Jiangsu

Expressway

Co.

Ltd.,

Class

A

(Industrials)

1,362

19,080

Jiangsu

Expressway

Co.

Ltd.,

Class

H

(Industrials)

19,828

1,118

Jiangsu

Hengli

Hydraulic

Co.

Ltd.,

Class

A

(Industrials)

7,633

5,541

Jiangsu

Hengrui

Pharmaceuticals

Co.

Ltd.,

Class

A

(Health

Care)

32,295

864

Jiangsu

King's

Luck

Brewery

JSC

Ltd.,

Class

A

(Consumer

Staples)

6,305

700

Jiangsu

Nhwa

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

2,296

450

Jiangsu

Pacific

Quartz

Co.

Ltd.,

Class

A

(Information

Technology)

2,406

1,800

Jiangsu

Phoenix

Publishing

&

Media

Corp.

Ltd.,

Class

A

(Communication

Services)

2,657

300

Jiangsu

Xinquan

Automotive

Trim

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

1,802

1,273

Jiangsu

Yanghe

Distillery

Co.

Ltd.,

Class

A

(Consumer

Staples)

16,347

305

Jiangsu

Yangnong

Chemical

Co.

Ltd.,

Class

A

(Materials)

2,520

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

300

Jiangsu

Yoke

Technology

Co.

Ltd.,

Class

A

(Materials)

$

2,442

711

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co.

Ltd.,

Class

A

(Health

Care)

3,808

2,730

Jiangsu

Zhongtian

Technology

Co.

Ltd.,

Class

A

(Industrials)

5,657

1,655

Jiangxi

Copper

Co.

Ltd.,

Class

A

(Materials)

5,804

16,682

Jiangxi

Copper

Co.

Ltd.,

Class

H

(Materials)

35,994

1,305

Jiangxi

Special

Electric

Motor

Co.

Ltd.,

Class

A

(Industrials)*

1,690

2,200

Jinduicheng

Molybdenum

Co.

Ltd.,

Class

A

(Materials)

3,526

5,676

Jinko

Solar

Co.

Ltd.,

Class

A

(Information

Technology)

6,365

181

JiuGui

Liquor

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,326

2,600

Jizhong

Energy

Resources

Co.

Ltd.,

Class

A

(Energy)

2,908

1,000

JL

Mag

Rare-Earth

Co.

Ltd.,

Class

A

(Industrials)

1,984

1,300

Joincare

Pharmaceutical

Group

Industry

Co.

Ltd.,

Class

A

(Health

Care)

2,230

459

Joinn

Laboratories

China

Co.

Ltd.,

Class

A

(Health

Care)

962

1,370

Joinn

Laboratories

China

Co.

Ltd.,

Class

H

(Health

Care)

(a)

1,480

3,813

Jointown

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Health

Care)

3,882

562

Jonjee

Hi-Tech

Industrial

And

Commercial

Holding

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,043

562

Juewei

Food

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,427

1,786

Juneyao

Airlines

Co.

Ltd.,

Class

A

(Industrials)

3,050

4,075

Kanzhun

Ltd.

ADR

(Communication

Services)

86,594

12,701

KE

Holdings,

Inc.

ADR

(Real

Estate)

215,536

300

Keboda

Technology

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,872

1,786

Keda

Industrial

Group

Co.

Ltd.,

Class

A

(Industrials)*

2,374

40,897

Kingdee

International

Software

Group

Co.

Ltd.

(Information

Technology)*

41,820

2,200

Kingfa

Sci

&

Tech

Co.

Ltd.,

Class

A

(Materials)

2,225

1,800

Kingnet

Network

Co.

Ltd.,

Class

A

(Communication

Services)

2,695

14,189

Kingsoft

Corp.

Ltd.

(Communication

Services)

45,342

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

29,173

Kuaishou

Technology

(Communication

Services)*

(a)

$

206,771

1,942

Kuang-Chi

Technologies

Co.

Ltd.,

Class

A

(Industrials)*

4,871

54,175

Kunlun

Energy

Co.

Ltd.

(Utilities)

56,229

1,000

Kunlun

Tech

Co.

Ltd.,

Class

A

(Communication

Services)*

4,801

1,036

Kweichow

Moutai

Co.

Ltd.,

Class

A

(Consumer

Staples)

234,976

1,300

Lao

Feng

Xiang

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

13,453

2,083

LB

Group

Co.

Ltd.,

Class

A

(Materials)

5,999

103,725

Lenovo

Group

Ltd.

(Information

Technology)

148,759

4,398

Lens

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

9,258

1,786

Lepu

Medical

Technology

Beijing

Co.

Ltd.,

Class

A

(Health

Care)

4,047

562

Levima

Advanced

Materials

Corp.,

Class

A

(Materials)

1,274

16,620

Li

Auto,

Inc.,

Class

A

(Consumer

Discretionary)*

166,023

33,665

Li

Ning

Co.

Ltd.

(Consumer

Discretionary)

87,569

13,059

Liaoning

Port

Co.

Ltd.,

Class

A

(Industrials)

2,498

6,222

Lingyi

iTech

Guangdong

Co.,

Class

A

(Information

Technology)

4,221

305

Livzon

Pharmaceutical

Group,

Inc.,

Class

A

(Health

Care)

1,624

2,139

Livzon

Pharmaceutical

Group,

Inc.,

Class

H

(Health

Care)

7,245

29,809

Longfor

Group

Holdings

Ltd.

(Real

Estate)

(a)

46,866

6,764

LONGi

Green

Energy

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

17,301

700

Longshine

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)*

1,036

302

Loongson

Technology

Corp.

Ltd.,

Class

A

(Information

Technology)*

4,234

2,584

Lufax

Holding

Ltd.

ADR

(Financials)

11,576

1,786

Luxi

Chemical

Group

Co.

Ltd.,

Class

A

(Materials)

3,005

6,387

Luxshare

Precision

Industry

Co.

Ltd.,

Class

A

(Information

Technology)

27,937

1,119

Luzhou

Laojiao

Co.

Ltd.,

Class

A

(Consumer

Staples)

26,921

1,406

Mango

Excellent

Media

Co.

Ltd.,

Class

A

(Communication

Services)

4,473

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

430

Maxscend

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)

$

5,136

2,600

Meihua

Holdings

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)*

3,928

3,673

Meinian

Onehealth

Healthcare

Holdings

Co.

Ltd.,

Class

A

(Health

Care)*

2,118

65,049

Meituan,

Class

B

(Consumer

Discretionary)*

(a)

873,878

17,474

Metallurgical

Corp.

of

China

Ltd.,

Class

A

(Industrials)

7,838

44,860

Metallurgical

Corp.

of

China

Ltd.,

Class

H

(Industrials)

9,748

11,545

Microport

Scientific

Corp.

(Health

Care)*

8,559

6,000

Midea

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

53,462

1,786

Ming

Yang

Smart

Energy

Group

Ltd.,

Class

A

(Industrials)

2,499

5,670

MINISO

Group

Holding

Ltd.

(Consumer

Discretionary)

32,469

3,700

Minmetals

Capital

Co.

Ltd.,

Class

A

(Financials)

2,255

10,482

Minth

Group

Ltd.

(Consumer

Discretionary)

20,767

40,063

MMG

Ltd.

(Materials)*

(b)

19,562

851

Montage

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

6,206

4,528

Muyuan

Foods

Co.

Ltd.,

Class

A

(Consumer

Staples)

29,375

5,400

Nanjing

Iron

&

Steel

Co.

Ltd.,

Class

A

(Materials)

3,819

1,116

Nanjing

King-Friend

Biochemical

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

1,924

2,900

Nanjing

Securities

Co.

Ltd.,

Class

A

(Financials)

3,184

7,300

NARI

Technology

Co.

Ltd.,

Class

A

(Industrials)

22,609

2,158

National

Silicon

Industry

Group

Co.

Ltd.,

Class

A

(Information

Technology)*

4,017

405

NAURA

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)

16,347

2,068

NavInfo

Co.

Ltd.,

Class

A

(Information

Technology)*

1,915

25,310

NetEase,

Inc.

(Communication

Services)

445,162

1,302

New

China

Life

Insurance

Co.

Ltd.,

Class

A

(Financials)

5,831

13,780

New

China

Life

Insurance

Co.

Ltd.,

Class

H

(Financials)

28,147

4,235

New

Hope

Liuhe

Co.

Ltd.,

Class

A

(Consumer

Staples)*

5,839

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

2,137

New

Oriental

Education

&

Technology

Group,

Inc.

ADR

(Consumer

Discretionary)*

$

170,810

1,145

Ninestar

Corp.,

Class

A

(Information

Technology)

4,285

623

Ningbo

Deye

Technology

Co.

Ltd.,

Class

A

(Industrials)

5,788

1,000

Ningbo

Joyson

Electronic

Corp.,

Class

A

(Consumer

Discretionary)*

2,162

562

Ningbo

Orient

Wires

&

Cables

Co.

Ltd.,

Class

A

(Industrials)*

3,721

578

Ningbo

Ronbay

New

Energy

Technology

Co.

Ltd.,

Class

A

(Industrials)*

2,290

1,000

Ningbo

Sanxing

Medical

Electric

Co.

Ltd.,

Class

A

(Industrials)

4,674

1,786

Ningbo

Shanshan

Co.

Ltd.,

Class

A

(Materials)

2,600

979

Ningbo

Tuopu

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

7,757

5,088

Ningbo

Zhoushan

Port

Co.

Ltd.,

Class

A

(Industrials)

2,485

5,676

Ningxia

Baofeng

Energy

Group

Co.

Ltd.,

Class

A

(Materials)*

12,823

19,042

NIO,

Inc.

ADR

(Consumer

Discretionary)*

(b)

102,636

25,716

Nongfu

Spring

Co.

Ltd.,

Class

H

(Consumer

Staples)

(a)

136,743

1,000

North

Industries

Group

Red

Arrow

Co.

Ltd.,

Class

A

(Industrials)

1,844

5,386

Offcn

Education

Technology

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

1,742

3,700

Offshore

Oil

Engineering

Co.

Ltd.,

Class

A

(Energy)

3,126

2,730

OFILM

Group

Co.

Ltd.,

Class

A

(Information

Technology)*

3,039

3,281

Onewo,

Inc.,

Class

H

(Real

Estate)

9,835

174

Oppein

Home

Group,

Inc.,

Class

A

(Consumer

Discretionary)

1,629

5,673

Orient

Securities

Co.

Ltd.,

Class

A

(Financials)

6,315

13,632

Orient

Securities

Co.

Ltd.,

Class

H

(Financials)

(a)

5,524

2,900

Oriental

Pearl

Group

Co.

Ltd.,

Class

A

(Communication

Services)

2,610

562

Ovctek

China,

Inc.,

Class

A

(Health

Care)

1,388

5,800

Pacific

Securities

Co.

Ltd.

(The),

Class

A

(Financials)*

2,626

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

8,489

Pangang

Group

Vanadium

Titanium

&

Resources

Co.

Ltd.,

Class

A

(Materials)*

$

3,434

9,229

PDD

Holdings,

Inc.

ADR

(Consumer

Discretionary)*

1,382,320

700

People.cn

Co.

Ltd.,

Class

A

(Communication

Services)

2,111

7,165

People’s

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

A

(Financials)

5,225

131,288

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

H

(Financials)

45,646

1,786

Perfect

World

Co.

Ltd.,

Class

A

(Communication

Services)*

2,271

19,918

PetroChina

Co.

Ltd.,

Class

A

(Energy)

27,789

301,036

PetroChina

Co.

Ltd.,

Class

H

(Energy)

306,679

1,000

Pharmaron

Beijing

Co.

Ltd.,

Class

A

(Health

Care)

2,840

4,225

Pharmaron

Beijing

Co.

Ltd.,

Class

H

(Health

Care)

(a)

5,309

98,438

PICC

Property

&

Casualty

Co.

Ltd.,

Class

H

(Financials)

127,839

18,132

Ping

An

Bank

Co.

Ltd.,

Class

A

(Financials)

27,717

9,195

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

A

(Financials)

54,490

88,281

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

(Financials)

446,294

2,068

Pingdingshan

Tianan

Coal

Mining

Co.

Ltd.,

Class

A

(Energy)

3,693

200

Piotech,

Inc.,

Class

A

(Information

Technology)

5,098

11,038

Poly

Developments

and

Holdings

Group

Co.

Ltd.,

Class

A

(Real

Estate)

15,521

2,285

Poly

Property

Services

Co.

Ltd.,

Class

H

(Real

Estate)

9,522

10,375

Pop

Mart

International

Group

Ltd.

(Consumer

Discretionary)

(a)

49,200

22,972

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

A

(Financials)

15,898

159,925

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

H

(Financials)

(a)

90,149

14,265

Power

Construction

Corp.

of

China

Ltd.,

Class

A

(Industrials)

10,501

712

Qi

An

Xin

Technology

Group,

Inc.,

Class

A

(Information

Technology)*

2,553

1,058

Qifu

Technology,

Inc.

ADR

(Financials)

20,441

980

Qingdao

Sentury

Tire

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,345

5,097

Qinghai

Salt

Lake

Industry

Co.

Ltd.,

Class

A

(Materials)*

12,125

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,000

Range

Intelligent

Computing

Technology

Group

Co.

Ltd.,

Class

A

(Information

Technology)

$

3,532

578

Raytron

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,398

732

Red

Star

Macalline

Group

Corp.

Ltd.,

Class

A

(Real

Estate)

310

2,183

Remegen

Co.

Ltd.,

Class

H

(Health

Care)*

(a)

7,074

1,656

REPT

BATTERO

Energy

Co.

Ltd.

(Industrials)*

3,150

1,000

Risen

Energy

Co.

Ltd.,

Class

A

(Information

Technology)

1,981

11,272

RLX

Technology,

Inc.

ADR

(Consumer

Staples)

21,304

181

Rockchip

Electronics

Co.

Ltd.,

Class

A

(Information

Technology)

1,425

7,829

Rongsheng

Petrochemical

Co.

Ltd.,

Class

A

(Materials)*

10,793

6,886

SAIC

Motor

Corp.

Ltd.,

Class

A

(Consumer

Discretionary)

13,331

2,600

Sailun

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

5,323

4,100

Sanan

Optoelectronics

Co.

Ltd.,

Class

A

(Information

Technology)

7,068

153

Sangfor

Technologies,

Inc.,

Class

A

(Information

Technology)*

1,153

16,072

Sany

Heavy

Equipment

International

Holdings

Co.

Ltd.

(Industrials)

12,265

7,710

Sany

Heavy

Industry

Co.

Ltd.,

Class

A

(Industrials)*

17,164

2,234

Satellite

Chemical

Co.

Ltd.,

Class

A

(Materials)

5,607

5,400

SDIC

Capital

Co.

Ltd.,

Class

A

(Financials)

4,569

6,100

SDIC

Power

Holdings

Co.

Ltd.,

Class

A

(Utilities)

14,872

4,400

Sealand

Securities

Co.

Ltd.,

Class

A

(Financials)*

1,913

1,814

Seazen

Holdings

Co.

Ltd.,

Class

A

(Real

Estate)*

2,656

267,319

SenseTime

Group,

Inc.,

Class

B

(Information

Technology)*

(a)(b)

45,104

1,300

Seres

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

15,907

3,971

SF

Holding

Co.

Ltd.,

Class

A

(Industrials)

20,134

453

SG

Micro

Corp.,

Class

A

(Information

Technology)

4,835

7,839

Shaanxi

Coal

Industry

Co.

Ltd.,

Class

A

(Energy)

28,075

1,800

Shaanxi

Energy

Investment

Co.

Ltd.,

Class

A

(Utilities)

2,739

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

3,152

Shan

Xi

Hua

Yang

Group

New

Energy

Co.

Ltd.,

Class

A

(Energy)

$

4,762

3,392

Shandong

Gold

Mining

Co.

Ltd.,

Class

A

(Materials)

13,446

11,799

Shandong

Gold

Mining

Co.

Ltd.,

Class

H

(Materials)

(a)

25,337

700

Shandong

Himile

Mechanical

Science

&

Technology

Co.

Ltd.,

Class

A

(Industrials)

3,720

1,800

Shandong

Hi-speed

Co.

Ltd.,

Class

A

(Industrials)

2,189

50,210

Shandong

Hi-Speed

Holdings

Group

Ltd.

(Financials)*

(b)

37,738

1,803

Shandong

Hualu

Hengsheng

Chemical

Co.

Ltd.,

Class

A

(Materials)

7,127

1,124

Shandong

Linglong

Tyre

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,207

11,600

Shandong

Nanshan

Aluminum

Co.

Ltd.,

Class

A

(Materials)

6,145

700

Shandong

Sinocera

Functional

Material

Co.

Ltd.,

Class

A

(Materials)

1,840

2,200

Shandong

Sun

Paper

Industry

JSC

Ltd.,

Class

A

(Materials)

4,565

37,800

Shandong

Weigao

Group

Medical

Polymer

Co.

Ltd.,

Class

H

(Health

Care)

22,033

1,420

Shanghai

Aiko

Solar

Energy

Co.

Ltd.,

Class

A

(Information

Technology)

2,276

385

Shanghai

Allist

Pharmaceuticals

Co.

Ltd.,

Class

A

(Health

Care)

3,079

859

Shanghai

Bairun

Investment

Holding

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,504

4,381

Shanghai

Baosight

Software

Co.

Ltd.,

Class

A

(Information

Technology)

23,840

280

Shanghai

BOCHU

Electronic

Technology

Corp.

Ltd.,

Class

A

(Information

Technology)

7,692

7,700

Shanghai

Construction

Group

Co.

Ltd.,

Class

A

(Industrials)

2,469

10,630

Shanghai

Electric

Group

Co.

Ltd.,

Class

A

(Industrials)*

6,157

2,200

Shanghai

Electric

Power

Co.

Ltd.,

Class

A

(Utilities)*

3,042

1,674

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Health

Care)

5,337

7,382

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

H

(Health

Care)

(b)

11,549

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

578

Shanghai

Fudan

Microelectronics

Group

Co.

Ltd.,

Class

A

(Information

Technology)

$

2,481

4,223

Shanghai

Fudan

Microelectronics

Group

Co.

Ltd.,

Class

H

(Information

Technology)

6,424

2,068

Shanghai

International

Airport

Co.

Ltd.,

Class

A

(Industrials)*

9,888

7,010

Shanghai

International

Port

Group

Co.

Ltd.,

Class

A

(Industrials)

5,488

843

Shanghai

Jinjiang

International

Hotels

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,256

578

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

A

(Health

Care)*

2,135

2,444

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

H

(Health

Care)*

(a)

3,855

2,077

Shanghai

Lingang

Holdings

Corp.

Ltd.,

Class

A

(Real

Estate)

3,072

1,625

Shanghai

Lujiazui

Finance

&

Trade

Zone

Development

Co.

Ltd.,

Class

A

(Real

Estate)*

2,267

711

Shanghai

M&G

Stationery,

Inc.,

Class

A

(Industrials)

3,481

3,660

Shanghai

MicroPort

MedBot

Group

Co.

Ltd.

(Health

Care)*

6,793

300

Shanghai

Moons'

Electric

Co.

Ltd.,

Class

A

(Industrials)

2,025

1,955

Shanghai

Pharmaceuticals

Holding

Co.

Ltd.,

Class

A

(Health

Care)

4,885

10,375

Shanghai

Pharmaceuticals

Holding

Co.

Ltd.,

Class

H

(Health

Care)

15,383

27,361

Shanghai

Pudong

Development

Bank

Co.

Ltd.,

Class

A

(Financials)

31,397

1,800

Shanghai

Putailai

New

Energy

Technology

Co.

Ltd.,

Class

A

(Materials)*

4,039

4,384

Shanghai

RAAS

Blood

Products

Co.

Ltd.,

Class

A

(Health

Care)

4,283

8,770

Shanghai

Rural

Commercial

Bank

Co.

Ltd.,

Class

A

(Financials)

9,533

4,109

Shanghai

Yuyuan

Tourist

Mart

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,268

1,000

Shanghai

Zhangjiang

High-Tech

Park

Development

Co.

Ltd.,

Class

A

(Real

Estate)

2,748

1,800

Shanghai

Zhonggu

Logistics

Co.

Ltd.,

Class

A

(Industrials)

2,353

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,800

Shanxi

Coal

International

Energy

Group

Co.

Ltd.,

Class

A

(Industrials)

$

3,921

3,673

Shanxi

Coking

Coal

Energy

Group

Co.

Ltd.,

Class

A

(Energy)

5,574

2,730

Shanxi

Lu’an

Environmental

Energy

Development

Co.

Ltd.,

Class

A

(Energy)

8,519

3,957

Shanxi

Meijin

Energy

Co.

Ltd.,

Class

A

(Materials)*

3,022

2,900

Shanxi

Securities

Co.

Ltd.,

Class

A

(Financials)

2,063

5,240

Shanxi

Taigang

Stainless

Steel

Co.

Ltd.,

Class

A

(Materials)

2,725

1,002

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.,

Class

A

(Consumer

Staples)

33,272

300

Shede

Spirits

Co.

Ltd.,

Class

A

(Consumer

Staples)

2,972

4,100

Shenergy

Co.

Ltd.,

Class

A

(Utilities)

4,936

2,068

Shengyi

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

5,628

562

Shennan

Circuits

Co.

Ltd.,

Class

A

(Information

Technology)

6,954

19,500

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

A

(Financials)

12,208

140

Shenyang

Xingqi

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

3,968

446

Shenzhen

Capchem

Technology

Co.

Ltd.,

Class

A

(Materials)

1,927

29

Shenzhen

Dynanonic

Co.

Ltd.,

Class

A

(Materials)*

136

3,392

Shenzhen

Energy

Group

Co.

Ltd.,

Class

A

(Utilities)

3,398

1,300

Shenzhen

Fastprint

Circuit

Tech

Co.

Ltd.,

Class

A

(Information

Technology)

2,127

300

Shenzhen

Goodix

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,551

562

Shenzhen

Hepalink

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Health

Care)

769

2,097

Shenzhen

Inovance

Technology

Co.

Ltd.,

Class

A

(Industrials)

16,717

1,300

Shenzhen

Kaifa

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,361

453

Shenzhen

Kangtai

Biological

Products

Co.

Ltd.,

Class

A

(Health

Care)

1,137

181

Shenzhen

Kedali

Industry

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,307

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

300

Shenzhen

Kstar

Science

And

Technology

Co.

Ltd.,

Class

A

(Industrials)

$

838

300

Shenzhen

Longsys

Electronics

Co.

Ltd.,

Class

A

(Information

Technology)*

3,582

992

Shenzhen

Mindray

Bio-Medical

Electronics

Co.

Ltd.,

Class

A

(Health

Care)

39,601

3,700

Shenzhen

MTC

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,520

700

Shenzhen

New

Industries

Biomedical

Engineering

Co.

Ltd.,

Class

A

(Health

Care)

7,293

8,492

Shenzhen

Overseas

Chinese

Town

Co.

Ltd.,

Class

A

(Real

Estate)*

3,026

1,000

Shenzhen

Salubris

Pharmaceuticals

Co.

Ltd.,

Class

A

(Health

Care)*

3,760

181

Shenzhen

SC

New

Energy

Technology

Corp.,

Class

A

(Information

Technology)

1,609

1,000

Shenzhen

SED

Industry

Co.

Ltd.,

Class

A

(Industrials)

2,152

700

Shenzhen

Sunlord

Electronics

Co.

Ltd.,

Class

A

(Information

Technology)

2,401

778

Shenzhen

Transsion

Holdings

Co.

Ltd.,

Class

A

(Information

Technology)

14,023

700

Shenzhen

YUTO

Packaging

Technology

Co.

Ltd.,

Class

A

(Materials)

2,402

11,251

Shenzhou

International

Group

Holdings

Ltd.

(Consumer

Discretionary)

112,462

1,305

Shijiazhuang

Yiling

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

3,261

1,300

Shuangliang

Eco-Energy

Systems

Co.

Ltd.,

Class

A

(Industrials)

1,079

3,700

Sichuan

Changhong

Electric

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,505

4,125

Sichuan

Chuantou

Energy

Co.

Ltd.,

Class

A

(Utilities)

10,222

7,700

Sichuan

Hebang

Biotechnology

Co.

Ltd.,

Class

A

(Materials)

2,087

716

Sichuan

Kelun

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

3,153

468

Sichuan

Kelun-Biotech

Biopharmaceutical

Co.

Ltd.

(Health

Care)*

10,301

5,675

Sichuan

Road

and

Bridge

Group

Co.

Ltd.,

Class

A

(Industrials)

6,137

181

Sichuan

Swellfun

Co.

Ltd.,

Class

A

(Consumer

Staples)

1,126

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

843

Sichuan

Yahua

Industrial

Group

Co.

Ltd.,

Class

A

(Materials)

$

1,217

700

Sieyuan

Electric

Co.

Ltd.,

Class

A

(Industrials)

6,792

2,900

Sinolink

Securities

Co.

Ltd.,

Class

A

(Financials)

3,272

2,200

Sinoma

International

Engineering

Co.,

Class

A

(Industrials)

3,850

1,124

Sinoma

Science

&

Technology

Co.

Ltd.,

Class

A

(Materials)

2,318

6,100

Sinomach

Heavy

Equipment

Group

Co.

Ltd.,

Class

A

(Industrials)*

2,451

313

Sinomine

Resource

Group

Co.

Ltd.,

Class

A

(Materials)

1,331

5,959

Sinopec

Oilfield

Service

Corp.,

Class

A

(Energy)*

1,484

5,378

Sinopec

Shanghai

Petrochemical

Co.

Ltd.,

Class

A

(Materials)*

2,042

50,764

Sinopec

Shanghai

Petrochemical

Co.

Ltd.,

Class

H

(Materials)*

7,332

19,790

Sinopharm

Group

Co.

Ltd.,

Class

H

(Health

Care)

53,628

3,419

Sinotrans

Ltd.,

Class

A

(Industrials)

2,832

29,762

Sinotrans

Ltd.,

Class

H

(Industrials)

16,206

10,332

Sinotruk

Hong

Kong

Ltd.

(Industrials)

23,957

313

Skshu

Paint

Co.

Ltd.,

Class

A

(Materials)*

1,862

26,605

Smoore

International

Holdings

Ltd.

(Consumer

Staples)

(a)

29,518

2,349

Songcheng

Performance

Development

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,300

300

Sonoscape

Medical

Corp.,

Class

A

(Health

Care)

1,618

4,109

SooChow

Securities

Co.

Ltd.,

Class

A

(Financials)

3,647

5,800

Southwest

Securities

Co.

Ltd.,

Class

A

(Financials)

3,072

700

Spring

Airlines

Co.

Ltd.,

Class

A

(Industrials)*

5,408

253

StarPower

Semiconductor

Ltd.,

Class

A

(Information

Technology)

3,041

3,400

State

Grid

Yingda

Co.

Ltd.,

Class

A

(Industrials)

2,241

1,143

Sungrow

Power

Supply

Co.

Ltd.,

Class

A

(Industrials)

15,521

9,964

Sunny

Optical

Technology

Group

Co.

Ltd.

(Information

Technology)

54,702

450

Sunresin

New

Materials

Co.

Ltd.,

Class

A

(Materials)

2,995

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,129

Sunwoda

Electronic

Co.

Ltd.,

Class

A

(Industrials)

$

2,411

810

SUPCON

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

4,753

1,124

Suzhou

Dongshan

Precision

Manufacturing

Co.

Ltd.,

Class

A

(Information

Technology)

2,428

29

Suzhou

Maxwell

Technologies

Co.

Ltd.,

Class

A

(Information

Technology)

524

420

Suzhou

TFC

Optical

Communication

Co.

Ltd.,

Class

A

(Information

Technology)

5,118

6,200

TAL

Education

Group

ADR

(Consumer

Discretionary)*

70,432

1,000

Talkweb

Information

System

Co.

Ltd.,

Class

A

(Communication

Services)*

1,650

1,268

Tangshan

Jidong

Cement

Co.

Ltd.,

Class

A

(Materials)*

815

5,100

TangShan

Port

Group

Co.

Ltd.,

Class

A

(Industrials)

2,891

1,000

Tasly

Pharmaceutical

Group

Co.

Ltd.,

Class

A

(Health

Care)

1,917

4,263

TBEA

Co.

Ltd.,

Class

A

(Industrials)

8,751

14,128

TCL

Technology

Group

Corp.,

Class

A

(Information

Technology)*

8,320

3,556

TCL

Zhonghuan

Renewable

Energy

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

5,406

87,631

Tencent

Holdings

Ltd.

(Communication

Services)

4,030,196

8,999

Tencent

Music

Entertainment

Group

ADR

(Communication

Services)

130,036

181

Thunder

Software

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

1,407

3,400

Tian

Di

Science

&

Technology

Co.

Ltd.,

Class

A

(Industrials)

3,312

7,300

Tianfeng

Securities

Co.

Ltd.,

Class

A

(Financials)*

2,822

1,955

Tianma

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)*

2,020

1,124

Tianqi

Lithium

Corp.,

Class

A

(Materials)

5,580

2,090

Tianqi

Lithium

Corp.,

Class

H

(Materials)

7,868

4,235

Tianshan

Aluminum

Group

Co.

Ltd.,

Class

A

(Materials)

5,000

3,400

TianShan

Material

Co.

Ltd.,

Class

A

(Materials)

2,774

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

2,600

Tianshui

Huatian

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

$

2,926

28,791

Tingyi

Cayman

Islands

Holding

Corp.

(Consumer

Staples)

35,145

1,300

Titan

Wind

Energy

Suzhou

Co.

Ltd.,

Class

A

(Industrials)*

1,909

847

Toly

Bread

Co.

Ltd.,

Class

A

(Consumer

Staples)

696

18,310

Tongcheng

Travel

Holdings

Ltd.

(Consumer

Discretionary)*

41,800

1,000

TongFu

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)*

3,160

1,300

Tonghua

Dongbao

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

1,642

2,068

Tongkun

Group

Co.

Ltd.,

Class

A

(Materials)*

4,291

10,476

Tongling

Nonferrous

Metals

Group

Co.

Ltd.,

Class

A

(Materials)

5,708

3,961

Tongwei

Co.

Ltd.,

Class

A

(Information

Technology)*

12,540

153

Topchoice

Medical

Corp.,

Class

A

(Health

Care)*

1,252

41,717

Topsports

International

Holdings

Ltd.

(Consumer

Discretionary)

(a)

27,195

14,402

TravelSky

Technology

Ltd.,

Class

H

(Consumer

Discretionary)

18,888

1,794

Trina

Solar

Co.

Ltd.,

Class

A

(Information

Technology)

5,448

8,022

Trip.com

Group

Ltd.

ADR

(Consumer

Discretionary)*

413,213

2,900

Tsinghua

Tongfang

Co.

Ltd.,

Class

A

(Information

Technology)*

2,286

458

Tsingtao

Brewery

Co.

Ltd.,

Class

A

(Consumer

Staples)

4,892

8,800

Tsingtao

Brewery

Co.

Ltd.,

Class

H

(Consumer

Staples)

62,147

583

Unigroup

Guoxin

Microelectronics

Co.

Ltd.,

Class

A

(Information

Technology)*

4,441

18,623

Uni-President

China

Holdings

Ltd.

(Consumer

Staples)

16,330

2,349

Unisplendour

Corp.

Ltd.,

Class

A

(Information

Technology)*

7,117

843

Universal

Scientific

Industrial

Shanghai

Co.

Ltd.,

Class

A

(Information

Technology)*

1,762

700

Venustech

Group,

Inc.,

Class

A

(Information

Technology)

1,756

712

Verisilicon

Microelectronics

Shanghai

Co.

Ltd.,

Class

A

(Information

Technology)*

3,122

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

4,952

Vipshop

Holdings

Ltd.

ADR

(Consumer

Discretionary)

$

79,579

1,268

Walvax

Biotechnology

Co.

Ltd.,

Class

A

(Health

Care)

2,331

1,800

Wanda

Film

Holding

Co.

Ltd.,

Class

A

(Communication

Services)*

3,252

1,000

Wangfujing

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

1,813

2,665

Wanhua

Chemical

Group

Co.

Ltd.,

Class

A

(Materials)

32,103

63,180

Want

Want

China

Holdings

Ltd.

(Consumer

Staples)

38,037

1,068

Weibo

Corp.

ADR

(Communication

Services)

9,452

6,512

Weichai

Power

Co.

Ltd.,

Class

A

(Industrials)

14,255

28,645

Weichai

Power

Co.

Ltd.,

Class

H

(Industrials)

51,187

859

Weihai

Guangwei

Composites

Co.

Ltd.,

Class

A

(Materials)*

3,079

5,822

Wens

Foodstuffs

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)

17,151

2,068

Western

Mining

Co.

Ltd.,

Class

A

(Materials)

5,290

3,986

Western

Securities

Co.

Ltd.,

Class

A

(Financials)

3,718

802

Western

Superconducting

Technologies

Co.

Ltd.,

Class

A

(Materials)

4,713

842

Will

Semiconductor

Co.

Ltd.

Shanghai,

Class

A

(Information

Technology)

10,893

864

Wingtech

Technology

Co.

Ltd.,

Class

A

(Information

Technology)*

3,628

440

Winner

Medical

Co.

Ltd.,

Class

A

(Health

Care)

1,805

1,800

Winning

Health

Technology

Group

Co.

Ltd.,

Class

A

(Health

Care)

1,536

19,800

Wintime

Energy

Group

Co.

Ltd.,

Class

A

(Utilities)*

3,460

4,400

Wuchan

Zhongda

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

2,906

3,677

Wuhan

Guide

Infrared

Co.

Ltd.,

Class

A

(Information

Technology)

3,314

300

Wuhan

Jingce

Electronic

Group

Co.

Ltd.,

Class

A

(Information

Technology)

2,536

3,327

Wuliangye

Yibin

Co.

Ltd.,

Class

A

(Consumer

Staples)

67,154

1,786

WUS

Printed

Circuit

Kunshan

Co.

Ltd.,

Class

A

(Information

Technology)

7,679

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

1,938

WuXi

AppTec

Co.

Ltd.,

Class

A

(Health

Care)

$

11,229

5,240

WuXi

AppTec

Co.

Ltd.,

Class

H

(Health

Care)

(a)

22,806

52,017

Wuxi

Biologics

Cayman,

Inc.

(Health

Care)*

(a)

74,069

1,305

Wuxi

Lead

Intelligent

Equipment

Co.

Ltd.,

Class

A

(Industrials)

3,589

2,819

WuXi

XDC

Cayman,

Inc.

(Health

Care)*

5,520

9,053

XCMG

Construction

Machinery

Co.

Ltd.,

Class

A

(Industrials)

9,031

2,349

Xiamen

C

&

D,

Inc.,

Class

A

(Industrials)

3,109

181

Xiamen

Faratronic

Co.

Ltd.,

Class

A

(Information

Technology)

2,117

1,124

Xiamen

Tungsten

Co.

Ltd.,

Class

A

(Materials)

2,943

1,800

Xiangcai

Co.

Ltd.,

Class

A

(Real

Estate)

1,647

1,000

Xiangtan

Electric

Manufacturing

Co.

Ltd.,

Class

A

(Industrials)*

1,574

226,289

Xiaomi

Corp.,

Class

B

(Information

Technology)*

(a)

505,606

7,300

Xinhu

Zhongbao

Co.

Ltd.,

Class

A

(Real

Estate)

2,129

1,344

Xinjiang

Daqo

New

Energy

Co.

Ltd.,

Class

A

(Information

Technology)*

4,950

68,115

Xinyi

Solar

Holdings

Ltd.

(Information

Technology)

44,752

15,394

XPeng,

Inc.,

Class

A

(Consumer

Discretionary)*

63,655

900

Xuji

Electric

Co.

Ltd.,

Class

A

(Industrials)

3,674

17,450

Yadea

Group

Holdings

Ltd.

(Consumer

Discretionary)

(a)

27,837

562

Yangzhou

Yangjie

Electronic

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

2,805

2,889

Yankuang

Energy

Group

Co.

Ltd.,

Class

A

(Energy)

10,013

30,925

Yankuang

Energy

Group

Co.

Ltd.,

Class

H

(Energy)

77,161

562

Yantai

Jereh

Oilfield

Services

Group

Co.

Ltd.,

Class

A

(Energy)

2,701

734

Yealink

Network

Technology

Corp.

Ltd.,

Class

A

(Information

Technology)

3,746

847

Yifeng

Pharmacy

Chain

Co.

Ltd.,

Class

A

(Consumer

Staples)

5,251

1,424

Yihai

Kerry

Arawana

Holdings

Co.

Ltd.,

Class

A

(Consumer

Staples)

5,894

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

2,349

Yintai

Gold

Co.

Ltd.,

Class

A

(Materials)

$

6,254

8,100

Yonghui

Superstores

Co.

Ltd.,

Class

A

(Consumer

Staples)*

2,931

305

YongXing

Special

Materials

Technology

Co.

Ltd.,

Class

A

(Materials)

1,805

2,752

Yonyou

Network

Technology

Co.

Ltd.,

Class

A

(Information

Technology)*

4,260

4,100

Youngor

Fashion

Co.

Ltd.,

Class

A

(Real

Estate)

4,485

2,349

YTO

Express

Group

Co.

Ltd.,

Class

A

(Industrials)

5,239

24,422

Yuexiu

Property

Co.

Ltd.

(Real

Estate)

17,700

2,730

Yunda

Holding

Co.

Ltd.,

Class

A

(Industrials)

3,336

2,730

Yunnan

Aluminium

Co.

Ltd.,

Class

A

(Materials)

5,428

1,563

Yunnan

Baiyao

Group

Co.

Ltd.,

Class

A

(Health

Care)

11,372

181

Yunnan

Botanee

Bio-

Technology

Group

Co.

Ltd.,

Class

A

(Consumer

Staples)*

1,330

4,400

Yunnan

Chihong

Zinc&Germanium

Co.

Ltd.,

Class

A

(Materials)

3,481

1,700

Yunnan

Copper

Co.

Ltd.,

Class

A

(Materials)

3,183

839

Yunnan

Energy

New

Material

Co.

Ltd.,

Class

A

(Materials)

4,568

1,305

Yunnan

Tin

Co.

Ltd.,

Class

A

(Materials)

3,017

1,305

Yunnan

Yuntianhua

Co.

Ltd.,

Class

A

(Materials)

3,722

1,800

Yutong

Bus

Co.

Ltd.,

Class

A

(Industrials)

6,031

12,840

Zai

Lab

Ltd.

(Health

Care)*

24,028

1,124

Zangge

Mining

Co.

Ltd.,

Class

A

(Materials)

4,035

505

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

15,773

21,622

Zhaojin

Mining

Industry

Co.

Ltd.,

Class

H

(Materials)

38,030

3,954

Zhefu

Holding

Group

Co.

Ltd.,

Class

A

(Industrials)

1,719

4,665

Zhejiang

Century

Huatong

Group

Co.

Ltd.,

Class

A

(Communication

Services)*

2,574

4,400

Zhejiang

China

Commodities

City

Group

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

4,771

1,926

Zhejiang

Chint

Electrics

Co.

Ltd.,

Class

A

(Industrials)

5,663

2,356

Zhejiang

Dahua

Technology

Co.

Ltd.,

Class

A

(Information

Technology)

5,313

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

181

Zhejiang

Dingli

Machinery

Co.

Ltd.,

Class

A

(Industrials)

$

1,583

19,683

Zhejiang

Expressway

Co.

Ltd.,

Class

H

(Industrials)

12,856

1,300

Zhejiang

Hailiang

Co.

Ltd.,

Class

A

(Materials)

1,536

1,124

Zhejiang

Huahai

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

2,682

1,142

Zhejiang

Huayou

Cobalt

Co.

Ltd.,

Class

A

(Materials)

4,525

1,124

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co.

Ltd.,

Class

A

(Information

Technology)

4,963

2,900

Zhejiang

Jinke

Tom

Culture

Industry

Co.

Ltd.,

Class

A

(Communication

Services)*

1,528

562

Zhejiang

Jiuzhou

Pharmaceutical

Co.

Ltd.,

Class

A

(Health

Care)

1,167

2,349

Zhejiang

Juhua

Co.

Ltd.,

Class

A

(Materials)

7,686

9,771

Zhejiang

Leapmotor

Technology

Co.

Ltd.

(Consumer

Discretionary)*

(a)

35,595

2,600

Zhejiang

Longsheng

Group

Co.

Ltd.,

Class

A

(Materials)

3,162

2,370

Zhejiang

NHU

Co.

Ltd.,

Class

A

(Health

Care)

6,186

3,011

Zhejiang

Sanhua

Intelligent

Controls

Co.

Ltd.,

Class

A

(Industrials)

9,537

700

Zhejiang

Shuanghuan

Driveline

Co.

Ltd.,

Class

A

(Consumer

Discretionary)*

2,199

181

Zhejiang

Supor

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

1,322

1,800

Zhejiang

Wanfeng

Auto

Wheel

Co.

Ltd.,

Class

A

(Consumer

Discretionary)

3,712

1,116

Zhejiang

Weiming

Environment

Protection

Co.

Ltd.,

Class

A

(Industrials)

3,323

1,305

Zhejiang

Weixing

New

Building

Materials

Co.

Ltd.,

Class

A

(Industrials)

3,056

10,600

Zhejiang

Zheneng

Electric

Power

Co.

Ltd.,

Class

A

(Utilities)*

9,772

1,000

Zhengzhou

Coal

Mining

Machinery

Group

Co.

Ltd.,

Class

A

(Industrials)

2,241

3,567

Zhengzhou

Coal

Mining

Machinery

Group

Co.

Ltd.,

Class

H

(Industrials)

5,763

3,691

Zheshang

Securities

Co.

Ltd.,

Class

A

(Financials)

5,571

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

10,374

ZhongAn

Online

P&C

Insurance

Co.

Ltd.,

Class

H

(Financials)*

(a)

$

17,636

712

Zhongfu

Shenying

Carbon

Fiber

Co.

Ltd.,

Class

A

(Materials)

2,564

562

Zhongji

Innolight

Co.

Ltd.,

Class

A

(Information

Technology)

12,161

4,100

Zhongjin

Gold

Corp.

Ltd.,

Class

A

(Materials)

8,135

10,990

Zhongsheng

Group

Holdings

Ltd.

(Consumer

Discretionary)

19,863

5,378

Zhongtai

Securities

Co.

Ltd.,

Class

A

(Financials)

4,632

859

Zhuhai

CosMX

Battery

Co.

Ltd.,

Class

A

(Industrials)

1,689

1,800

Zhuhai

Huafa

Properties

Co.

Ltd.,

Class

A

(Real

Estate)*

1,771

578

Zhuzhou

CRRC

Times

Electric

Co.

Ltd.,

Class

A

(Industrials)

3,818

7,629

Zhuzhou

CRRC

Times

Electric

Co.

Ltd.,

Class

H

(Industrials)

29,791

2,349

Zhuzhou

Kibing

Group

Co.

Ltd.,

Class

A

(Industrials)

2,443

17,867

Zijin

Mining

Group

Co.

Ltd.,

Class

A

(Materials)

42,799

81,568

Zijin

Mining

Group

Co.

Ltd.,

Class

H

(Materials)

172,450

7,433

ZJLD

Group,

Inc.

(Consumer

Staples)*

(a)

9,881

7,039

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.,

Class

A

(Industrials)

7,777

20,493

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.,

Class

H

(Industrials)

14,643

3,673

ZTE

Corp.,

Class

A

(Information

Technology)*

13,625

11,800

ZTE

Corp.,

Class

H

(Information

Technology)*

24,223

5,737

ZTO

Express

Cayman,

Inc.

ADR

(Industrials)

130,746

28,075,735

Colombia

–

0.1%

3,556

Bancolombia

SA

(Financials)

32,976

70,958

Ecopetrol

SA

(Energy)

43,257

41,918

Grupo

Energia

Bogota

SA

ESP

(Utilities)

27,557

6,669

Interconexion

Electrica

SA

ESP

(Utilities)

32,972

136,762

Czech

Republic

–

0.1%

2,302

CEZ

AS

(Utilities)

95,941

1,113

Komercni

Banka

AS

(Financials)

38,048

133,989

Shares

Description

Value

a

Common

Stocks

–

(continued)

Egypt

–

0.1%

4,298

Abou

Kir

Fertilizers

&

Chemical

Industries

(Materials)

$

5,637

33,675

Commercial

International

Bank

-

Egypt

(CIB)

(Financials)

55,710

14,148

Eastern

Co.

SAE

(Consumer

Staples)

8,261

14,617

EFG

Holding

S.A.E.

(Financials)*

4,762

6,588

E-Finance

for

Digital

&

Financial

Investments

(Financials)

3,378

7,281

ElSewedy

Electric

Co.

(Industrials)

6,856

2,782

Ezz

Steel

Co.

SAE

(Materials)*

4,449

4,613

Misr

Fertilizers

Production

Co.

SAE

(Materials)

4,294

13,237

Talaat

Moustafa

Group

(Real

Estate)

15,144

7,475

Telecom

Egypt

Co.

(Communication

Services)

4,877

113,368

Greece

–

0.5%

29,709

Alpha

Services

and

Holdings

SA

(Financials)*

50,023

1,049

Athens

International

Airport

SA

(Industrials)

9,406

34,482

Eurobank

Ergasias

Services

and

Holdings

SA

(Financials)*

75,317

2,644

Hellenic

Telecommunications

Organization

SA

(Communication

Services)

38,577

1,574

JUMBO

SA

(Consumer

Discretionary)

45,111

870

Motor

Oil

Hellas

Corinth

Refineries

SA

(Energy)

24,613

1,481

Mytilineos

SA

(Industrials)

58,877

8,038

National

Bank

of

Greece

SA

(Financials)*

69,634

2,894

OPAP

SA

(Consumer

Discretionary)

46,026

9,116

Piraeus

Financial

Holdings

SA

(Financials)*

35,706

3,099

Public

Power

Corp.

SA

(Utilities)*

37,747

1,064

Star

Bulk

Carriers

Corp.

(Industrials)

28,813

818

Terna

Energy

SA

(Utilities)

16,171

536,021

Hong

Kong

–

0.1%

81,964

J&T

Global

Express

Ltd.

(Industrials)*

79,938

1,979

Orient

Overseas

International

Ltd.

(Industrials)

33,593

113,531

Hungary

–

0.2%

6,616

MOL

Hungarian

Oil

&

Gas

PLC

(Energy)

51,374

3,357

OTP

Bank

Nyrt

(Financials)

161,733

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Hungary

–

(continued)

2,086

Richter

Gedeon

Nyrt

(Health

Care)

$

52,833

265,940

India

–

20.1%

768

ABB

India

Ltd.

(Industrials)

76,532

1,022

ACC

Ltd.

(Materials)

31,177

4,105

Adani

Energy

Solutions

Ltd.

(Utilities)*

55,218

4,452

Adani

Enterprises

Ltd.

(Industrials)

181,947

4,405

Adani

Green

Energy

Ltd.

(Utilities)*

100,709

10,337

Adani

Ports

&

Special

Economic

Zone

Ltd.

(Industrials)

178,006

14,247

Adani

Power

Ltd.

(Utilities)*

129,001

4,165

Adani

Total

Gas

Ltd.

(Utilities)

51,858

2,490

Adani

Wilmar

Ltd.

(Consumer

Staples)*

10,612

6,916

Aditya

Birla

Capital

Ltd.

(Financials)*

18,547

463

Alkem

Laboratories

Ltd.

(Health

Care)

26,683

8,947

Ambuja

Cements

Ltd.

(Materials)

67,962

2,444

APL

Apollo

Tubes

Ltd.

(Materials)

44,063

1,445

Apollo

Hospitals

Enterprise

Ltd.

(Health

Care)

101,084

21,519

Ashok

Leyland

Ltd.

(Industrials)

57,747

5,808

Asian

Paints

Ltd.

(Materials)

200,476

1,782

Astral

Ltd.

(Industrials)

44,765

6,864

AU

Small

Finance

Bank

Ltd.

(Financials)

(a)

53,706

4,224

Aurobindo

Pharma

Ltd.

(Health

Care)

60,001

2,068

Avenue

Supermarts

Ltd.

(Consumer

Staples)*

(a)

106,586

32,582

Axis

Bank

Ltd.

(Financials)

453,631

969

Bajaj

Auto

Ltd.

(Consumer

Discretionary)

105,463

3,868

Bajaj

Finance

Ltd.

(Financials)

310,367

5,454

Bajaj

Finserv

Ltd.

(Financials)

99,879

409

Bajaj

Holdings

&

Investment

Ltd.

(Financials)

38,971

1,218

Balkrishna

Industries

Ltd.

(Consumer

Discretionary)

44,506

11,394

Bandhan

Bank

Ltd.

(Financials)

(a)

25,703

15,259

Bank

of

Baroda

(Financials)

48,425

12,991

Bank

of

India

(Financials)

20,030

13,678

Bank

of

Maharashtra

(Financials)

11,315

3,663

Berger

Paints

India

Ltd.

(Materials)

20,186

50,958

Bharat

Electronics

Ltd.

(Industrials)

180,673

Shares

Description

Value

a

Common

Stocks

–

(continued)

India

–

(continued)

3,636

Bharat

Forge

Ltd.

(Consumer

Discretionary)

$

67,716

18,919

Bharat

Heavy

Electricals

Ltd.

(Industrials)

67,747

13,720

Bharat

Petroleum

Corp.

Ltd.

(Energy)

103,190

32,761

Bharti

Airtel

Ltd.

(Communication

Services)

538,780

6,713

Biocon

Ltd.

(Health

Care)

24,871

127

Bosch

Ltd.

(Consumer

Discretionary)

46,244

1,699

Britannia

Industries

Ltd.

(Consumer

Staples)*

105,431

25,885

Canara

Bank

(Financials)

36,593

9,355

CG

Power

&

Industrial

Solutions

Ltd.

(Industrials)

72,114

5,956

Cholamandalam

Investment

and

Finance

Co.

Ltd.

(Financials)

88,557

7,663

Cipla

Ltd.

(Health

Care)

132,859

29,781

Coal

India

Ltd.

(Energy)

175,251

1,987

Colgate-Palmolive

India

Ltd.

(Consumer

Staples)

63,257

4,022

Container

Corp.

Of

India

Ltd.

(Industrials)

51,791

1,938

Cummins

India

Ltd.

(Industrials)

82,453

8,856

Dabur

India

Ltd.

(Consumer

Staples)

57,833

1,217

Dalmia

Bharat

Ltd.

(Materials)

25,889

1,117

Deepak

Nitrite

Ltd.

(Materials)

29,324

5,512

Delhivery

Ltd.

(Industrials)*

25,430

1,804

Divi's

Laboratories

Ltd.

(Health

Care)

93,088

8,840

DLF

Ltd.

(Real

Estate)

86,381

1,736

Dr.

Reddy's

Laboratories

Ltd.

(Health

Care)

120,456

1,983

Eicher

Motors

Ltd.

(Consumer

Discretionary)

112,451

9,111

Embassy

Office

Parks

REIT

(Real

Estate)

38,188

15,359

FSN

E-Commerce

Ventures

Ltd.

(Consumer

Discretionary)*

30,213

38,482

GAIL

India

Ltd.

(Utilities)

94,187

3,666

General

Insurance

Corp.

of

India

(Financials)

(a)

15,640

918

Gland

Pharma

Ltd.

(Health

Care)*

(a)

20,238

35,386

GMR

Airports

Infrastructure

Ltd.

(Industrials)*

35,864

5,545

Godrej

Consumer

Products

Ltd.

(Consumer

Staples)

84,389

1,729

Godrej

Properties

Ltd.

(Real

Estate)*

57,557

4,675

Grasim

Industries

Ltd.

(Materials)

129,727

558

Gujarat

Fluorochemicals

Ltd.

(Materials)

20,309

2,695

Gujarat

Gas

Ltd.

(Utilities)

17,801

3,132

Havells

India

Ltd.

(Industrials)

71,566

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

India

–

(continued)

15,112

HCL

Technologies

Ltd.

(Information

Technology)

$

239,721

1,173

HDFC

Asset

Management

Co.

Ltd.

(Financials)

(a)

54,585

80,210

HDFC

Bank

Ltd.

(Financials)

1,471,712

13,965

HDFC

Life

Insurance

Co.

Ltd.

(Financials)

(a)

91,992

1,859

Hero

MotoCorp

Ltd.

(Consumer

Discretionary)

114,019

20,799

Hindalco

Industries

Ltd.

(Materials)

171,769

2,371

Hindustan

Aeronautics

Ltd.

(Industrials)

141,282

9,126

Hindustan

Petroleum

Corp.

Ltd.

(Energy)

58,749

12,769

Hindustan

Unilever

Ltd.

(Consumer

Staples)

356,286

32

Honeywell

Automation

India

Ltd.

(Information

Technology)

19,714

73,872

ICICI

Bank

Ltd.

(Financials)

992,128

3,365

ICICI

Lombard

General

Insurance

Co.

Ltd.

(Financials)

(a)

63,725

5,751

ICICI

Prudential

Life

Insurance

Co.

Ltd.

(Financials)

(a)

37,580

53,513

IDFC

First

Bank

Ltd.

(Financials)*

48,980

3,564

Indian

Bank

(Financials)

24,231

12,091

Indian

Hotels

Co.

Ltd.

(Consumer

Discretionary)

80,741

53,493

Indian

Oil

Corp.

Ltd.

(Energy)

104,075

4,522

Indian

Railway

Catering

&

Tourism

Corp.

Ltd.

(Industrials)

55,277

26,298

Indian

Railway

Finance

Corp.

Ltd.

(Financials)

(a)

56,017

5,241

Indraprastha

Gas

Ltd.

(Utilities)

27,749

12,515

Indus

Towers

Ltd.

(Communication

Services)*

52,199

8,193

IndusInd

Bank

Ltd.

(Financials)

143,486

982

Info

Edge

India

Ltd.

(Communication

Services)

67,024

51,210

Infosys

Ltd.

(Information

Technology)

863,140

1,582

InterGlobe

Aviation

Ltd.

(Industrials)*

(a)

79,394

42,557

ITC

Ltd.

(Consumer

Staples)

217,421

4,939

Jindal

Stainless

Ltd.

(Materials)

46,951

5,700

Jindal

Steel

&

Power

Ltd.

(Materials)

70,209

48,371

Jio

Financial

Services

Ltd.

(Financials)*

199,548

5,549

JSW

Energy

Ltd.

(Utilities)

40,751

3,596

JSW

Infrastructure

Ltd.

(Industrials)*

12,194

13,530

JSW

Steel

Ltd.

(Materials)

142,730

5,851

Jubilant

Foodworks

Ltd.

(Consumer

Discretionary)

34,627

15,590

Kotak

Mahindra

Bank

Ltd.

(Financials)

313,850

Shares

Description

Value

a

Common

Stocks

–

(continued)

India

–

(continued)

362

L&T

Technology

Services

Ltd.

(Industrials)

(a)

$

19,476

9,610

Larsen

&

Toubro

Ltd.

(Industrials)

422,445

3,159

Life

Insurance

Corp.

of

India

(Financials)

38,326

306

Linde

India

Ltd.

(Materials)

31,929

1,313

LTIMindtree

Ltd.

(Information

Technology)

(a)

73,961

3,428

Lupin

Ltd.

(Health

Care)

64,992

3,878

Macrotech

Developers

Ltd.

(Real

Estate)

(a)

64,018

7,052

Mahindra

&

Mahindra

Financial

Services

Ltd.

(Financials)

22,608

12,641

Mahindra

&

Mahindra

Ltd.

(Consumer

Discretionary)

379,550

802

MakeMyTrip

Ltd.

(Consumer

Discretionary)*

60,623

507

Mankind

Pharma

Ltd.

(Health

Care)*

12,997

7,831

Marico

Ltd.

(Consumer

Staples)

55,873

1,876

Maruti

Suzuki

India

Ltd.

(Consumer

Discretionary)

278,672

3,309

Max

Financial

Services

Ltd.

(Financials)*

36,398

10,561

Max

Healthcare

Institute

Ltd.

(Health

Care)

95,120

456

Mazagon

Dock

Shipbuilders

Ltd.

(Industrials)

17,394

1,271

Mphasis

Ltd.

(Information

Technology)

34,780

33

MRF

Ltd.

(Consumer

Discretionary)

49,589

1,521

Muthoot

Finance

Ltd.

(Financials)

30,676

5,142

Nestle

India

Ltd.

(Consumer

Staples)

145,067

41,351

NHPC

Ltd.

(Utilities)

53,131

17,239

NMDC

Ltd.

(Materials)

53,728

67,501

NTPC

Ltd.

(Utilities)

290,314

1,835

Oberoi

Realty

Ltd.

(Real

Estate)

40,002

55,248

Oil

&

Natural

Gas

Corp.

Ltd.

(Energy)

174,968

5,179

Oil

India

Ltd.

(Energy)

39,442

4,231

One

97

Communications

Ltd.

(Financials)*

18,286

355

Oracle

Financial

Services

Software

Ltd.

(Information

Technology)

31,706

75

Page

Industries

Ltd.

(Consumer

Discretionary)

32,306

1,073

Patanjali

Foods

Ltd.

(Consumer

Staples)

18,384

3,556

PB

Fintech

Ltd.

(Financials)*

55,143

1,424

Persistent

Systems

Ltd.

(Information

Technology)

58,182

8,763

Petronet

LNG

Ltd.

(Energy)

31,216

1,341

Phoenix

Mills

Ltd.

(The)

(Real

Estate)

49,797

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

India

–

(continued)

1,218

PI

Industries

Ltd.

(Materials)

$

51,651

2,174

Pidilite

Industries

Ltd.

(Materials)

77,340

661

Polycab

India

Ltd.

(Industrials)

53,386

20,717

Power

Finance

Corp.

Ltd.

(Financials)

122,223

64,571

Power

Grid

Corp.

of

India

Ltd.

(Utilities)

239,807

1,974

Prestige

Estates

Projects

Ltd.

(Real

Estate)

37,780

150

Procter

&

Gamble

Hygiene

&

Health

Care

Ltd.

(Consumer

Staples)

28,701

31,845

Punjab

National

Bank

(Financials)

49,386

8,344

Rail

Vikas

Nigam

Ltd.

(Industrials)

38,156

17,793

REC

Ltd.

(Financials)

114,629

48,864

Reliance

Industries

Ltd.

(Energy)

1,674,710

30,730

Samvardhana

Motherson

International

Ltd.

(Consumer

Discretionary)

55,683

4,379

SBI

Cards

&

Payment

Services

Ltd.

(Financials)

36,308

6,361

SBI

Life

Insurance

Co.

Ltd.

(Financials)

(a)

105,652

615

Schaeffler

India

Ltd.

(Industrials)

31,251

141

Shree

Cement

Ltd.

(Materials)

41,691

3,410

Shriram

Finance

Ltd.

(Financials)

96,169

1,270

Siemens

Ltd.

(Industrials)

106,016

10,178

SJVN

Ltd.

(Utilities)

17,034

362

Solar

Industries

India

Ltd.

(Materials)

40,638

4,122

Sona

Blw

Precision

Forgings

Ltd.

(Consumer

Discretionary)

(a)

32,153

2,083

SRF

Ltd.

(Materials)

55,184

25,467

State

Bank

of

India

(Financials)

253,339

21,673

Steel

Authority

of

India

Ltd.

(Materials)

41,154

15,381

Sun

Pharmaceutical

Industries

Ltd.

(Health

Care)

268,993

915

Sundaram

Finance

Ltd.

(Financials)

46,999

865

Supreme

Industries

Ltd.

(Materials)

54,691

145,737

Suzlon

Energy

Ltd.

(Industrials)*

83,195

1,685

Tata

Communications

Ltd.

(Communication

Services)

35,898

14,456

Tata

Consultancy

Services

Ltd.

(Information

Technology)

635,755

8,857

Tata

Consumer

Products

Ltd.

(Consumer

Staples)

112,501

513

Tata

Elxsi

Ltd.

(Information

Technology)

42,679

Shares

Description

Value

a

Common

Stocks

–

(continued)

India

–

(continued)

24,624

Tata

Motors

Ltd.

(Consumer

Discretionary)

$

272,285

6,556

Tata

Motors

Ltd.,

Class

A

(Consumer

Discretionary)

48,574

24,213

Tata

Power

Co.

Ltd.

(The)

(Utilities)

126,691

119,079

Tata

Steel

Ltd.

(Materials)

238,525

711

Tata

Technologies

Ltd.

(Information

Technology)*

8,775

8,868

Tech

Mahindra

Ltd.

(Information

Technology)

130,511

436

Thermax

Ltd.

(Industrials)

28,230

5,307

Titan

Co.

Ltd.

(Consumer

Discretionary)

206,116

1,321

Torrent

Pharmaceuticals

Ltd.

(Health

Care)

42,667

2,305

Torrent

Power

Ltd.

(Utilities)

41,471

2,587

Trent

Ltd.

(Consumer

Discretionary)

141,300

1,437

Tube

Investments

of

India

Ltd.

(Consumer

Discretionary)

61,577

3,272

TVS

Motor

Co.

Ltd.

(Consumer

Discretionary)

85,425

1,641

UltraTech

Cement

Ltd.

(Materials)

194,933

21,873

Union

Bank

of

India

Ltd.

(Financials)

41,966

986

United

Breweries

Ltd.

(Consumer

Staples)

21,976

4,242

United

Spirits

Ltd.

(Consumer

Staples)

58,921

7,786

UPL

Ltd.

(Materials)

47,460

6,628

Varun

Beverages

Ltd.

(Consumer

Staples)

113,294

562

Vedant

Fashions

Ltd.

(Consumer

Discretionary)

7,024

19,656

Vedanta

Ltd.

(Materials)

105,967

119,486

Vodafone

Idea

Ltd.

(Communication

Services)*

21,830

3,459

Voltas

Ltd.

(Industrials)

56,345

20,037

Wipro

Ltd.

(Information

Technology)

105,188

190,254

Yes

Bank

Ltd.

(Financials)*

52,423

86,341

Zomato

Ltd.

(Consumer

Discretionary)*

185,309

3,809

Zydus

Lifesciences

Ltd.

(Health

Care)

45,639

22,325,343

Indonesia

–

1.7%

165,022

Adaro

Energy

Indonesia

Tbk

PT

(Energy)

28,130

100,320

Adaro

Minerals

Indonesia

Tbk

PT

(Materials)*

8,952

182,667

Amman

Mineral

Internasional

PT

(Materials)*

135,736

130,266

Aneka

Tambang

Tbk

(Materials)

11,744

288,056

Astra

International

Tbk

PT

(Industrials)

76,047

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Indonesia

–

(continued)

746,207

Bank

Central

Asia

Tbk

PT

(Financials)

$

424,764

518,506

Bank

Mandiri

Persero

Tbk

PT

(Financials)

188,257

206,751

Bank

Negara

Indonesia

Persero

Tbk

PT

(Financials)

55,982

1,002,712

Bank

Rakyat

Indonesia

Persero

Tbk

PT

(Financials)

267,801

402,522

Barito

Pacific

Tbk

PT

(Materials)

26,381

223,925

Barito

Renewables

Energy

Tbk

PT

(Utilities)

113,340

103,006

Chandra

Asri

Pacific

Tbk

PT

(Materials)

58,159

113,080

Charoen

Pokphand

Indonesia

Tbk

PT

(Consumer

Staples)

36,186

189,058

Dayamitra

Telekomunikasi

PT

(Communication

Services)*

7,097

11,307,051

GoTo

Gojek

Tokopedia

Tbk

PT

(Consumer

Discretionary)*

45,228

7,127

Gudang

Garam

Tbk

PT

(Consumer

Staples)

8,201

32,898

Indah

Kiat

Pulp

&

Paper

Tbk

PT

(Materials)*

18,423

35,456

Indofood

CBP

Sukses

Makmur

Tbk

PT

(Consumer

Staples)

21,274

68,465

Indofood

Sukses

Makmur

Tbk

PT

(Consumer

Staples)

24,753

20,400

Indosat

Tbk

PT

(Communication

Services)*

12,805

284,651

Kalbe

Farma

Tbk

PT

(Health

Care)

26,100

51,021

Mayora

Indah

Tbk

PT

(Consumer

Staples)

7,127

155,906

Merdeka

Battery

Materials

Tbk

PT

(Materials)*

6,428

185,780

Merdeka

Copper

Gold

Tbk

PT

(Materials)*

30,868

23,808

Pantai

Indah

Kapuk

Dua

Tbk

PT

(Materials)*

7,509

300,430

Sarana

Menara

Nusantara

Tbk

PT

(Communication

Services)

12,757

50,048

Semen

Indonesia

Persero

Tbk

PT

(Materials)

10,749

283,490

Sumber

Alfaria

Trijaya

Tbk

PT

(Consumer

Staples)

46,231

677,158

Telkom

Indonesia

Persero

Tbk

PT

(Communication

Services)

120,847

117,963

Trimegah

Bangun

Persada

Tbk

PT

(Materials)

7,295

88,768

Unilever

Indonesia

Tbk

PT

(Consumer

Staples)

17,043

21,167

United

Tractors

Tbk

PT

(Energy)

28,754

31,588

Vale

Indonesia

Tbk

PT

(Materials)*

9,661

1,900,629

Shares

Description

Value

a

Common

Stocks

–

(continued)

Kazakhstan

–

–%

1,389

Polymetal

International

PLC

(Materials)*

(c)

$

—

Kuwait

–

0.8%

45,582

Agility

Global

PLC

(Industrials)

15,637

22,791

Agility

Public

Warehousing

Co.

KSC

(Industrials)

21,755

20,598

Boubyan

Bank

KSCP

(Financials)

38,854

32,958

Gulf

Bank

KSCP

(Financials)

27,273

174,057

Kuwait

Finance

House

KSCP

(Financials)

413,949

10,358

Mabanee

Co

KPSC

(Real

Estate)

28,008

31,442

Mobile

Telecommunications

Co.

KSCP

(Communication

Services)

45,890

111,815

National

Bank

of

Kuwait

SAKP

(Financials)

312,186

903,552

Luxembourg

–

0.1%

2,033

Reinet

Investments

SCA

(Financials)

51,119

Mexico

–

2.5%

451,972

America

Movil

SAB

de

CV,

Series

B

(Communication

Services)

416,630

6,652

Arca

Continental

SAB

de

CV

(Consumer

Staples)

67,505

26,449

Becle

SAB

de

CV

(Consumer

Staples)

48,575

215,675

Cemex

SAB

de

CV,

Series

CPO

(Materials)*

161,502

7,485

Coca-Cola

Femsa

SAB

de

CV

(Consumer

Staples)

69,484

2,817

El

Puerto

de

Liverpool

SAB

de

CV

(Consumer

Discretionary)

21,160

40,940

Fibra

Uno

Administracion

SA

de

CV

REIT

(Real

Estate)

58,144

30,835

Fomento

Economico

Mexicano

SAB

de

CV

(Consumer

Staples)

351,754

2,650

Gruma

SAB

de

CV,

Class

B

(Consumer

Staples)

51,171

5,405

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV,

Class

B

(Industrials)

101,178

2,595

Grupo

Aeroportuario

del

Sureste

SAB

de

CV,

Class

B

(Industrials)

86,821

20,088

Grupo

Bimbo

SAB

de

CV,

Series

A

(Consumer

Staples)

75,259

6,977

Grupo

Carso

SAB

de

CV,

Series

A1

(Industrials)

53,620

6,664

Grupo

Comercial

Chedraui

SA

de

CV

(Consumer

Staples)

49,061

769

Grupo

Elektra

SAB

DE

CV

(Financials)

49,575

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Mexico

–

(continued)

41,141

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

(Financials)

$

389,300

27,945

Grupo

Financiero

Inbursa

SAB

de

CV,

Class

O

(Financials)*

74,707

44,560

Grupo

Mexico

SAB

de

CV,

Series

B

(Materials)

274,046

2,802

Industrias

Penoles

SAB

de

CV

(Materials)*

44,120

22,839

Kimberly-Clark

de

Mexico

SAB

de

CV,

Class

A

(Consumer

Staples)

47,664

13,687

Orbia

Advance

Corp.

SAB

de

CV

(Materials)

22,200

11,010

Prologis

Property

Mexico

SA

de

CV

REIT

(Real

Estate)

44,580

71,079

Wal-Mart

de

Mexico

SAB

de

CV

(Consumer

Staples)

265,877

2,823,933

Philippines

–

0.6%

3,585

Ayala

Corp.

(Industrials)

36,450

86,936

Ayala

Land,

Inc.

(Real

Estate)

38,996

30,018

Bank

of

the

Philippine

Islands

(Financials)

61,657

31,040

BDO

Unibank,

Inc.

(Financials)

68,954

11,596

International

Container

Terminal

Services,

Inc.

(Industrials)

67,690

45,912

JG

Summit

Holdings,

Inc.

(Industrials)

24,321

7,077

Jollibee

Foods

Corp.

(Consumer

Discretionary)

26,170

4,537

Manila

Electric

Co.

(Utilities)

28,469

28,005

Metropolitan

Bank

&

Trust

Co.

(Financials)

29,694

1,294

PLDT,

Inc.

(Communication

Services)

32,726

7,144

SM

Investments

Corp.

(Industrials)

106,208

168,187

SM

Prime

Holdings,

Inc.

(Real

Estate)

77,455

13,747

Universal

Robina

Corp.

(Consumer

Staples)

25,135

623,925

Qatar

–

0.7%

50,509

Commercial

Bank

PSQC

(The)

(Financials)

53,824

26,503

Dukhan

Bank

(Financials)

25,789

28,348

Industries

Qatar

QSC

(Industrials)

89,926

98,404

Masraf

Al

Rayan

QSC

(Financials)

62,242

67,348

Mesaieed

Petrochemical

Holding

Co.

(Materials)

31,815

10,479

Ooredoo

QPSC

(Communication

Services)

27,126

7,279

Qatar

Electricity

&

Water

Co.

QSC

(Utilities)

29,848

8,795

Qatar

Fuel

QSC

(Energy)

32,489

Shares

Description

Value

a

Common

Stocks

–

(continued)

Qatar

–

(continued)

52,956

Qatar

Gas

Transport

Co.

Ltd.

(Energy)

$

57,625

16,640

Qatar

International

Islamic

Bank

QSC

(Financials)

45,839

23,408

Qatar

Islamic

Bank

(Financials)

110,579

63,348

Qatar

National

Bank

QPSC

(Financials)

234,880

801,982

Russia

–

0.0%

12,708

Alrosa

PJSC

(Materials)

(c)

—

801

Gazprom

Neft

PJSC

(Energy)

(c)

—

49,291

Gazprom

PJSC

(Energy)*

(c)

—

26,300

GMK

Norilskiy

Nickel

PAO

(Materials)

(c)

—

1,413

LUKOIL

PJSC

(Energy)

(c)

—

4,560

Mobile

TeleSystems

PJSC

(Communication

Services)

(c)

—

3,099

Novatek

PJSC

(Energy)

(c)

—

5,287

Novolipetsk

Steel

PJSC

(Materials)

(c)

—

780

PIK-Spetsializirovannyy

Zastroyshchik

PAO

(Consumer

Discretionary)*

(c)

—

128

Polyus

PJSC

(Materials)*

(c)

—

5,078

Rosneft

Oil

Co.

PJSC

(Energy)

(c)

—

44,370

Sberbank

of

Russia

PJSC

(Financials)*

(c)

—

969

Severstal

PAO

(Materials)*

(c)

—

146,300

Surgutneftegas

PJSC

(Energy)

(c)

—

6,047

Tatneft

PJSC

(Energy)

(c)

—

6,503

United

Co

RUSAL

International

PJSC

(Materials)*

(c)

—

1,289

Yandex

NV,

Class

A

(Communication

Services)*

(c)

—

—

Saudi

Arabia

–

3.6%

1,902

ACWA

Power

Co.

(Utilities)

204,059

5,442

Ades

Holding

Co.

(Energy)*

26,204

1,986

Advanced

Petrochemical

Co.

(Materials)*

21,233

27,965

Al

Rajhi

Bank

(Financials)

567,397

17,478

Alinma

Bank

(Financials)

142,594

3,669

Almarai

Co.

JSC

(Consumer

Staples)

51,161

12,661

Arab

National

Bank

(Financials)

66,500

361

Arabian

Internet

&

Co.mmunications

Services

Co.

(Information

Technology)

25,410

8,739

Bank

AlBilad

(Financials)

75,607

7,166

Bank

Al-Jazira

(Financials)*

28,659

8,701

Banque

Saudi

Fransi

(Financials)

77,714

1,057

Bupa

Arabia

for

Cooperative

Insurance

Co.

(Financials)

65,099

1,072

Co.

for

Cooperative

Insurance

(The)

(Financials)

37,556

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Saudi

Arabia

–

(continued)

1,227

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co.

(Health

Care)

$

87,739

377

Elm

Co.

(Information

Technology)

80,090

5,383

Etihad

Etisalat

Co.

(Communication

Services)

67,096

9,102

Jarir

Marketing

Co.

(Consumer

Discretionary)

30,868

1,380

Mouwasat

Medical

Services

Co.

(Health

Care)

39,369

566

Nahdi

Medical

Co.

(Consumer

Staples)

19,769

6,557

Rabigh

Refining

&

Petrochemical

Co.

(Energy)*

11,958

20,974

Riyad

Bank

(Financials)

136,445

3,328

SABIC

Agri-Nutrients

Co.

(Materials)

94,054

5,293

Sahara

International

Petrochemical

Co.

(Materials)

42,124

342

SAL

Saudi

Logistics

Services

(Industrials)

23,197

17,282

Saudi

Arabian

Mining

Co.

(Materials)*

212,874

62,496

Saudi

Arabian

Oil

Co.

(Energy)

(a)

483,212

760

Saudi

Aramco

Base

Oil

Co.

(Materials)

26,382

14,286

Saudi

Awwal

Bank

(Financials)

145,880

12,841

Saudi

Basic

Industries

Corp.

(Materials)

260,196

11,542

Saudi

Electricity

Co.

(Utilities)

51,452

5,446

Saudi

Industrial

Investment

Group

(Materials)

31,102

11,395

Saudi

Kayan

Petrochemical

Co.

(Materials)*

24,214

41,947

Saudi

National

Bank

(The)

(Financials)

378,571

459

Saudi

Research

&

Media

Group

(Communication

Services)*

24,989

711

Saudi

Tadawul

Group

Holding

Co.

(Financials)

44,624

25,682

Saudi

Telecom

Co.

(Communication

Services)

246,501

3,733

Savola

Group

(The)

(Consumer

Staples)*

42,946

4,175

Yanbu

National

Petrochemical

Co.

(Materials)

40,295

4,035,140

South

Africa

–

2.4%

11,498

Absa

Group

Ltd.

(Financials)

91,098

819

Anglo

American

Platinum

Ltd.

(Materials)

(b)

26,559

5,118

Aspen

Pharmacare

Holdings

Ltd.

(Health

Care)

63,164

4,765

Bid

Corp.

Ltd.

(Consumer

Staples)

105,244

4,990

Bidvest

Group

Ltd.

(The)

(Industrials)

65,099

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Africa

–

(continued)

1,390

Capitec

Bank

Holdings

Ltd.

(Financials)

$

157,247

3,451

Clicks

Group

Ltd.

(Consumer

Staples)

54,211

7,983

Discovery

Ltd.

(Financials)

46,509

3,612

Exxaro

Resources

Ltd.

(Energy)

(b)

34,807

71,391

FirstRand

Ltd.

(Financials)

246,470

12,551

Gold

Fields

Ltd.

(Materials)

195,110

7,753

Harmony

Gold

Mining

Co.

Ltd.

(Materials)

70,379

13,080

Impala

Platinum

Holdings

Ltd.

(Materials)

66,840

3,159

Investec

Ltd.

(Financials)

20,644

861

Kumba

Iron

Ore

Ltd.

(Materials)

22,420

23,989

MTN

Group

Ltd.

(Communication

Services)

104,556

4,780

MultiChoice

Group

(Communication

Services)*

28,575

2,574

Naspers

Ltd.,

Class

N

(Consumer

Discretionary)

509,718

6,414

Nedbank

Group

Ltd.

(Financials)

77,837

4,986

Northam

Platinum

Holdings

Ltd.

(Materials)

34,353

74,011

Old

Mutual

Ltd.

(Financials)

41,787

12,666

OUTsurance

Group

Ltd.

(Financials)

26,943

24,010

Pepkor

Holdings

Ltd.

(Consumer

Discretionary)

(a)

21,654

7,585

Remgro

Ltd.

(Financials)

48,626

24,263

Sanlam

Ltd.

(Financials)

91,291

8,702

Sasol

Ltd.

(Materials)

57,359

6,763

Shoprite

Holdings

Ltd.

(Consumer

Staples)

89,691

42,475

Sibanye

Stillwater

Ltd.

(Materials)

53,264

19,271

Standard

Bank

Group

Ltd.

(Financials)

183,401

8,896

Vodacom

Group

Ltd.

(Communication

Services)

43,683

13,588

Woolworths

Holdings

Ltd.

(Consumer

Discretionary)

39,297

2,717,836

South

Korea

–

11.0%

532

Alteogen,

Inc.

(Health

Care)*

71,430

415

Amorepacific

Corp.

(Consumer

Staples)

58,209

401

AMOREPACIFIC

Group

(Consumer

Staples)

11,078

105

BGF

retail

Co.

Ltd.

(Consumer

Staples)

8,835

4,319

BNK

Financial

Group,

Inc.

(Financials)

26,359

307

Celltrion

Pharm,

Inc.

(Health

Care)*

19,779

2,163

Celltrion,

Inc.

(Health

Care)

275,267

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Korea

–

(continued)

1,022

Cheil

Worldwide,

Inc.

(Communication

Services)

$

13,796

106

CJ

CheilJedang

Corp.

(Consumer

Staples)

26,757

203

CJ

Corp.

(Industrials)

20,219

151

CJ

ENM

Co.

Ltd.

(Communication

Services)*

9,761

105

CJ

Logistics

Corp.

(Industrials)

7,864

310

CosmoAM&T

Co.

Ltd.

(Information

Technology)*

34,704

813

Coway

Co.

Ltd.

(Consumer

Discretionary)

33,118

355

CS

Wind

Corp.

(Industrials)

13,538

2,900

Daewoo

Engineering

&

Construction

Co.

Ltd.

(Industrials)*

7,656

554

DB

HiTek

Co.

Ltd.

(Information

Technology)

16,225

660

DB

Insurance

Co.

Ltd.

(Financials)

49,337

402

DL

E&C

Co.

Ltd.

(Industrials)

9,872

463

Dongsuh

Cos.,

Inc.

(Consumer

Staples)

6,270

718

Doosan

Bobcat,

Inc.

(Industrials)

29,922

100

Doosan

Co.

Ltd.

(Industrials)

14,878

6,124

Doosan

Enerbility

Co.

Ltd.

(Industrials)*

92,000

617

Doosan

Fuel

Cell

Co.

Ltd.

(Industrials)*

10,918

301

Doosan

Robotics,

Inc.

(Industrials)*

15,740

665

Ecopro

BM

Co.

Ltd.

(Industrials)*

91,881

1,415

Ecopro

Co.

Ltd.

(Industrials)*

96,476

308

Ecopro

Materials

Co.

Ltd.

(Industrials)*

17,663

257

E-MART,

Inc.

(Consumer

Staples)

11,379

153

Enchem

Co.

Ltd.

(Materials)*

32,433

250

F&F

Co.

Ltd.

(Consumer

Discretionary)

12,098

612

Fila

Holdings

Corp.

(Consumer

Discretionary)

17,416

57

Green

Cross

Corp.

(Health

Care)

4,722

663

GS

Holdings

Corp.

(Industrials)

20,878

615

GS

Retail

Co.

Ltd.

(Consumer

Staples)

8,808

4,114

Hana

Financial

Group,

Inc.

(Financials)

183,333

355

Hanjin

Kal

Corp.

(Industrials)

16,333

1,017

Hankook

Tire

&

Technology

Co.

Ltd.

(Consumer

Discretionary)

32,209

101

Hanmi

Pharm

Co.

Ltd.

(Health

Care)

20,681

302

Hanmi

Science

Co.

Ltd.

(Health

Care)

6,882

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Korea

–

(continued)

614

Hanmi

Semiconductor

Co.

Ltd.

(Information

Technology)

$

71,708

2,393

Hanon

Systems

(Consumer

Discretionary)

8,659

149

Hansol

Chemical

Co.

Ltd.

(Materials)

20,393

476

Hanwha

Aerospace

Co.

Ltd.

(Industrials)

70,478

508

Hanwha

Corp.

(Industrials)

9,925

4,123

Hanwha

Life

Insurance

Co.

Ltd.

(Financials)

8,353

2,077

Hanwha

Ocean

Co.

Ltd.

(Industrials)*

44,554

1,528

Hanwha

Solutions

Corp.

(Materials)

34,708

816

Hanwha

Systems

Co.

Ltd.

(Industrials)

10,284

612

HD

Hyundai

Co.

Ltd.

(Energy)

30,367

303

HD

Hyundai

Electric

Co.

Ltd.

(Industrials)

65,872

301

HD

Hyundai

Heavy

Industries

Co.

Ltd.

(Industrials)*

27,979

1,836

HD

Hyundai

Infracore

Co.

Ltd.

(Industrials)*

11,020

352

HD

HYUNDAI

MIPO

(Industrials)*

18,356

665

HD

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

(Industrials)*

62,631

404

Hite

Jinro

Co.

Ltd.

(Consumer

Staples)

5,865

463

HL

Mando

Co.

Ltd.

(Consumer

Discretionary)

14,513

1,658

HLB,

Inc.

(Health

Care)*

73,287

4,236

HMM

Co.

Ltd.

(Industrials)

55,071

413

Hotel

Shilla

Co.

Ltd.

(Consumer

Discretionary)

16,973

78

Hugel,

Inc.

(Health

Care)*

10,760

292

HYBE

Co.

Ltd.

(Communication

Services)

42,180

46

Hyosung

Advanced

Materials

Corp.

(Materials)

12,359

34

Hyosung

TNC

Corp.

(Materials)

9,860

101

Hyundai

Autoever

Corp.

(Information

Technology)

10,796

306

Hyundai

Elevator

Co.

Ltd.

(Industrials)

8,874

1,073

Hyundai

Engineering

&

Construction

Co.

Ltd.

(Industrials)

25,729

261

Hyundai

Glovis

Co.

Ltd.

(Industrials)

33,837

869

Hyundai

Marine

&

Fire

Insurance

Co.

Ltd.

(Financials)

20,587

889

Hyundai

Mobis

Co.

Ltd.

(Consumer

Discretionary)

137,727

1,933

Hyundai

Motor

Co.

(Consumer

Discretionary)

353,219

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Korea

–

(continued)

1,022

Hyundai

Rotem

Co.

Ltd.

(Industrials)

$

26,536

1,227

Hyundai

Steel

Co.

(Materials)

26,276

3,760

Industrial

Bank

of

Korea

(Financials)

37,368

407

JYP

Entertainment

Corp.

(Communication

Services)

17,079

4,308

Kakao

Corp.

(Communication

Services)

134,727

557

Kakao

Games

Corp.

(Communication

Services)*

8,589

3,049

KakaoBank

Corp.

(Financials)

48,998

312

Kakaopay

Corp.

(Financials)*

6,986

1,785

Kangwon

Land,

Inc.

(Consumer

Discretionary)

19,222

5,326

KB

Financial

Group,

Inc.

(Financials)

305,431

53

KCC

Corp.

(Materials)

11,254

201

KEPCO

Engineering

&

Construction

Co.,

Inc.

(Industrials)

10,148

256

KEPCO

Plant

Service

&

Engineering

Co.

Ltd.

(Industrials)

6,869

3,526

Kia

Corp.

(Consumer

Discretionary)

299,744

201

KIWOOM

Securities

Co.

Ltd.

(Financials)

19,424

1,064

Korea

Aerospace

Industries

Ltd.

(Industrials)

39,807

3,664

Korea

Electric

Power

Corp.

(Utilities)*

51,471

413

Korea

Gas

Corp.

(Utilities)*

8,889

608

Korea

Investment

Holdings

Co.

Ltd.

(Financials)

28,631

148

Korea

Zinc

Co.

Ltd.

(Materials)

56,333

2,804

Korean

Air

Lines

Co.

Ltd.

(Industrials)

42,226

419

Krafton,

Inc.

(Communication

Services)*

75,656

961

KT

Corp.

(Communication

Services)

25,404

1,440

KT&G

Corp.

(Consumer

Staples)

86,844

453

Kum

Yang

Co.

Ltd.

(Materials)*

27,254

213

Kumho

Petrochemical

Co.

Ltd.

(Materials)

22,676

361

L&F

Co.

Ltd.

(Industrials)*

40,779

150

LEENO

Industrial,

Inc.

(Information

Technology)

29,035

671

LG

Chem

Ltd.

(Materials)

170,349

1,320

LG

Corp.

(Industrials)

77,510

4,109

LG

Display

Co.

Ltd.

(Information

Technology)*

29,470

1,580

LG

Electronics,

Inc.

(Consumer

Discretionary)

119,594

578

LG

Energy

Solution

Ltd.

(Industrials)*

138,181

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Korea

–

(continued)

133

LG

H&H

Co.

Ltd.

(Consumer

Staples)

$

40,105

205

LG

Innotek

Co.

Ltd.

(Information

Technology)

36,720

3,359

LG

Uplus

Corp.

(Communication

Services)

23,411

259

Lotte

Chemical

Corp.

(Materials)

21,157

460

Lotte

Corp.

(Industrials)

8,688

303

Lotte

Energy

Materials

Corp.

(Information

Technology)

10,417

153

Lotte

Shopping

Co.

Ltd.

(Consumer

Discretionary)

7,282

258

LS

Corp.

(Industrials)

31,697

1,422

Meritz

Financial

Group,

Inc.

(Financials)

78,980

3,860

Mirae

Asset

Securities

Co.

Ltd.

(Financials)

20,101

1,937

NAVER

Corp.

(Communication

Services)

238,112

204

NCSoft

Corp.

(Communication

Services)

28,039

310

Netmarble

Corp.

(Communication

Services)*

(a)

13,479

1,988

NH

Investment

&

Securities

Co.

Ltd.

(Financials)

17,632

50

NongShim

Co.

Ltd.

(Consumer

Staples)

16,594

198

OCI

Holdings

Co.

Ltd.

(Materials)

13,857

350

Orion

Corp.

(Consumer

Staples)

23,181

3,203

Pan

Ocean

Co.

Ltd.

(Industrials)

9,959

455

Pearl

Abyss

Corp.

(Communication

Services)*

13,622

760

Posco

DX

Co.

Ltd.

(Information

Technology)

19,404

410

POSCO

Future

M

Co.

Ltd.

(Industrials)

74,179

1,017

POSCO

Holdings,

Inc.

(Materials)

271,043

764

Posco

International

Corp.

(Industrials)

23,755

257

S-1

Corp.

(Industrials)

11,805

256

Samsung

Biologics

Co.

Ltd.

(Health

Care)*

(a)

134,975

1,151

Samsung

C&T

Corp.

(Industrials)

112,311

358

Samsung

Card

Co.

Ltd.

(Financials)

10,472

2,336

Samsung

E&A

Co.

Ltd.

(Industrials)*

39,480

783

Samsung

Electro-Mechanics

Co.

Ltd.

(Information

Technology)

87,657

69,333

Samsung

Electronics

Co.

Ltd.

(Information

Technology)

3,680,601

443

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

(Financials)

111,506

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

South

Korea

–

(continued)

9,242

Samsung

Heavy

Industries

Co.

Ltd.

(Industrials)*

$

61,144

1,082

Samsung

Life

Insurance

Co.

Ltd.

(Financials)

65,879

732

Samsung

SDI

Co.

Ltd.

(Information

Technology)

197,995

518

Samsung

SDS

Co.

Ltd.

(Information

Technology)

57,317

919

Samsung

Securities

Co.

Ltd.

(Financials)

23,962

557

SD

Biosensor,

Inc.

(Health

Care)*

4,039

6,428

Shinhan

Financial

Group

Co.

Ltd.

(Financials)

218,902

103

Shinsegae,

Inc.

(Consumer

Discretionary)

12,141

410

SK

Biopharmaceuticals

Co.

Ltd.

(Health

Care)*

25,289

356

SK

Bioscience

Co.

Ltd.

(Health

Care)*

13,293

7,672

SK

Hynix,

Inc.

(Information

Technology)

1,048,386

407

SK

IE

Technology

Co.

Ltd.

(Industrials)*

(a)

12,684

820

SK

Innovation

Co.

Ltd.

(Energy)*

59,225

1,411

SK

Square

Co.

Ltd.

(Industrials)*

79,082

765

SK

Telecom

Co.

Ltd.

(Communication

Services)

28,179

513

SK,

Inc.

(Industrials)

65,285

256

SKC

Co.

Ltd.

(Materials)*

25,738

612

S-Oil

Corp.

(Energy)

30,146

55

Soulbrain

Co.

Ltd.

(Materials)

13,089

198

Studio

Dragon

Corp.

(Communication

Services)*

6,435

257

Wemade

Co.

Ltd.

(Communication

Services)*

7,926

463

WONIK

IPS

Co.

Ltd.

(Information

Technology)*

11,838

9,405

Woori

Financial

Group,

Inc.

(Financials)

96,254

780

Yuhan

Corp.

(Health

Care)

38,759

12,265,616

Taiwan

–

18.0%

7,204

Accton

Technology

Corp.

(Information

Technology)

112,083

41,777

Acer,

Inc.

(Information

Technology)

68,223

6,146

Advantech

Co.

Ltd.

(Information

Technology)

66,973

1,064

Alchip

Technologies

Ltd.

(Information

Technology)

94,267

52,578

ASE

Technology

Holding

Co.

Ltd.

(Information

Technology)

254,823

38,511

Asia

Cement

Corp.

(Materials)

49,396

4,570

Asia

Vital

Components

Co.

Ltd.

(Information

Technology)

108,487

Shares

Description

Value

a

Common

Stocks

–

(continued)

Taiwan

–

(continued)

405

ASMedia

Technology,

Inc.

(Information

Technology)

$

25,005

456

ASPEED

Technology,

Inc.

(Information

Technology)

51,309

10,011

Asustek

Computer,

Inc.

(Information

Technology)

158,537

87,701

AUO

Corp.

(Information

Technology)*

48,190

9,313

Catcher

Technology

Co.

Ltd.

(Information

Technology)

64,542

159,807

Cathay

Financial

Holding

Co.

Ltd.

(Financials)*

277,247

21,562

Chailease

Holding

Co.

Ltd.

(Financials)

101,174

88,202

Chang

Hwa

Commercial

Bank

Ltd.

(Financials)

49,555

32,449

Cheng

Shin

Rubber

Industry

Co.

Ltd.

(Consumer

Discretionary)

60,903

8,847

Chicony

Electronics

Co.

Ltd.

(Information

Technology)

50,934

42,879

China

Airlines

Ltd.

(Industrials)

29,650

231,442

China

Development

Financial

Holding

Corp.

(Financials)*

100,739

173,697

China

Steel

Corp.

(Materials)

127,348

6,107

Chroma

ATE,

Inc.

(Information

Technology)

53,729

54,234

Chunghwa

Telecom

Co.

Ltd.

(Communication

Services)

214,297

56,844

Compal

Electronics,

Inc.

(Information

Technology)

65,014

259,410

CTBC

Financial

Holding

Co.

Ltd.

(Financials)

283,482

27,410

Delta

Electronics,

Inc.

(Information

Technology)

274,997

12,861

E

Ink

Holdings,

Inc.

(Information

Technology)

87,145

214,520

E.Sun

Financial

Holding

Co.

Ltd.

(Financials)

189,395

3,363

Eclat

Textile

Co.

Ltd.

(Consumer

Discretionary)

50,351

4,321

Elite

Material

Co.

Ltd.

(Information

Technology)

54,489

913

eMemory

Technology,

Inc.

(Information

Technology)

62,005

39,885

Eva

Airways

Corp.

(Industrials)

44,079

14,847

Evergreen

Marine

Corp.

Taiwan

Ltd.

(Industrials)

96,478

44,105

Far

Eastern

New

Century

Corp.

(Industrials)

46,019

24,013

Far

EasTone

Telecommunications

Co.

Ltd.

(Communication

Services)

61,897

9,408

Feng

TAY

Enterprise

Co.

Ltd.

(Consumer

Discretionary)

44,871

154,415

First

Financial

Holding

Co.

Ltd.

(Financials)

131,086

63,297

Formosa

Chemicals

&

Fibre

Corp.

(Materials)

103,365

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Taiwan

–

(continued)

20,801

Formosa

Petrochemical

Corp.

(Energy)

$

43,279

77,265

Formosa

Plastics

Corp.

(Materials)

155,751

1,475

Formosa

Sumco

Technology

Corp.

(Information

Technology)

7,718

2,598

Fortune

Electric

Co.

Ltd.

(Industrials)

57,263

14,188

Foxconn

Technology

Co.

Ltd.

(Information

Technology)

32,017

120,163

Fubon

Financial

Holding

Co.

Ltd.

(Financials)

272,272

4,827

Giant

Manufacturing

Co.

Ltd.

(Consumer

Discretionary)

32,409

7,939

Gigabyte

Technology

Co.

Ltd.

(Information

Technology)

77,934

1,246

Global

Unichip

Corp.

(Information

Technology)

55,965

3,102

Globalwafers

Co.

Ltd.

(Information

Technology)

50,465

4,777

Gold

Circuit

Electronics

Ltd.

(Information

Technology)*

29,346

26,451

Highwealth

Construction

Corp.

(Real

Estate)

37,398

4,176

Hiwin

Technologies

Corp.

(Industrials)

28,683

170,341

Hon

Hai

Precision

Industry

Co.

Ltd.

(Information

Technology)

904,447

4,566

Hotai

Motor

Co.

Ltd.

(Consumer

Discretionary)

86,545

142,154

Hua

Nan

Financial

Holdings

Co.

Ltd.

(Financials)

109,707

121,099

Innolux

Corp.

(Information

Technology)*

52,149

1,809

International

Games

System

Co.

Ltd.

(Communication

Services)

56,402

44,752

Inventec

Corp.

(Information

Technology)

73,910

1,460

Jentech

Precision

Industrial

Co.

Ltd.

(Information

Technology)

46,648

1,106

King

Slide

Works

Co.

Ltd.

(Information

Technology)

38,410

15,945

King

Yuan

Electronics

Co.

Ltd.

(Information

Technology)

43,414

1,359

Largan

Precision

Co.

Ltd.

(Information

Technology)

95,441

31,742

Lite-On

Technology

Corp.

(Information

Technology)

105,336

1,322

Lotes

Co.

Ltd.

(Information

Technology)

65,500

27,265

Macronix

International

Co.

Ltd.

(Information

Technology)

22,851

21,463

MediaTek,

Inc.

(Information

Technology)

818,263

159,021

Mega

Financial

Holding

Co.

Ltd.

(Financials)

191,695

3,308

Merida

Industry

Co.

Ltd.

(Consumer

Discretionary)

23,385

Shares

Description

Value

a

Common

Stocks

–

(continued)

Taiwan

–

(continued)

10,153

Micro-Star

International

Co.

Ltd.

(Information

Technology)

$

60,020

1,165

momo.com,

Inc.

(Consumer

Discretionary)

15,788

79,990

Nan

Ya

Plastics

Corp.

(Materials)

131,366

3,203

Nan

Ya

Printed

Circuit

Board

Corp.

(Information

Technology)

19,330

17,446

Nanya

Technology

Corp.

(Information

Technology)

34,737

2,843

Nien

Made

Enterprise

Co.

Ltd.

(Consumer

Discretionary)

30,805

8,079

Novatek

Microelectronics

Corp.

(Information

Technology)

147,893

4,683

Oneness

Biotech

Co.

Ltd.

(Health

Care)

21,757

27,634

Pegatron

Corp.

(Information

Technology)

90,424

3,764

PharmaEssentia

Corp.

(Health

Care)*

48,453

2,487

Phison

Electronics

Corp.

(Information

Technology)

45,680

3,971

Polaris

Group

(Health

Care)*

8,826

35,206

Pou

Chen

Corp.

(Consumer

Discretionary)

40,701

44,363

Powerchip

Semiconductor

Manufacturing

Corp.

(Information

Technology)*

34,100

9,973

Powertech

Technology,

Inc.

(Information

Technology)

54,800

7,844

President

Chain

Store

Corp.

(Consumer

Staples)

65,379

33,700

Quanta

Computer,

Inc.

(Information

Technology)

285,047

6,477

Realtek

Semiconductor

Corp.

(Information

Technology)

108,570

24,925

Ruentex

Development

Co.

Ltd.

(Real

Estate)*

34,317

10,227

Ruentex

Industries

Ltd.

(Consumer

Discretionary)*

21,563

64,835

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

(Financials)

92,167

3,823

Shihlin

Electric

&

Engineering

Corp.

(Industrials)

27,439

200,786

Shin

Kong

Financial

Holding

Co.

Ltd.

(Financials)*

58,573

7,885

Sino-American

Silicon

Products,

Inc.

(Information

Technology)

50,751

153,791

SinoPac

Financial

Holdings

Co.

Ltd.

(Financials)

109,430

18,927

Synnex

Technology

International

Corp.

(Information

Technology)

49,313

32,408

TA

Chen

Stainless

Pipe

(Materials)

38,367

185,788

Taishin

Financial

Holding

Co.

Ltd.

(Financials)

105,529

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Taiwan

–

(continued)

92,575

Taiwan

Business

Bank

(Financials)

$

48,297

104,764

Taiwan

Cement

Corp.

(Materials)

106,724

151,749

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

(Financials)

119,688

9,915

Taiwan

Fertilizer

Co.

Ltd.

(Materials)

19,528

31,586

Taiwan

High

Speed

Rail

Corp.

(Industrials)

29,252

25,846

Taiwan

Mobile

Co.

Ltd.

(Communication

Services)

84,175

341,578

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

(Information

Technology)

8,657,021

29,074

Tatung

Co.

Ltd.

(Industrials)*

48,645

26,093

Teco

Electric

and

Machinery

Co.

Ltd.

(Industrials)

45,268

7,122

Tripod

Technology

Corp.

(Information

Technology)

46,609

18,618

Unimicron

Technology

Corp.

(Information

Technology)

104,889

67,531

Uni-President

Enterprises

Corp.

(Consumer

Staples)

166,774

164,638

United

Microelectronics

Corp.

(Information

Technology)

279,530

12,784

Vanguard

International

Semiconductor

Corp.

(Information

Technology)

42,424

1,473

VisEra

Technologies

Co.

Ltd.

(Information

Technology)

12,550

1,066

Voltronic

Power

Technology

Corp.

(Industrials)

55,778

41,249

Walsin

Lihwa

Corp.

(Industrials)

47,050

5,742

Walsin

Technology

Corp.

(Information

Technology)

20,296

21,016

Wan

Hai

Lines

Ltd.

(Industrials)

51,706

5,241

Win

Semiconductors

Corp.

(Information

Technology)

22,893

42,532

Winbond

Electronics

Corp.

(Information

Technology)

32,824

38,471

Wistron

Corp.

(Information

Technology)

133,011

1,333

Wiwynn

Corp.

(Information

Technology)

101,639

23,343

WPG

Holdings

Ltd.

(Information

Technology)

62,115

11,008

WT

Microelectronics

Co.

Ltd.

(Information

Technology)

39,249

5,553

Yageo

Corp.

(Information

Technology)

113,480

24,908

Yang

Ming

Marine

Transport

Corp.

(Industrials)

54,977

157,709

Yuanta

Financial

Holding

Co.

Ltd.

(Financials)

154,087

5,344

Yulon

Finance

Corp.

(Financials)

24,498

Shares

Description

Value

a

Common

Stocks

–

(continued)

Taiwan

–

(continued)

8,596

Yulon

Motor

Co.

Ltd.

(Consumer

Discretionary)

$

18,708

9,559

Zhen

Ding

Technology

Holding

Ltd.

(Information

Technology)

36,000

19,987,497

Thailand

–

1.6%

15,488

Advanced

Info

Service

PCL,

NVDR

(Communication

Services)

85,460

62,593

Airports

of

Thailand

PCL,

NVDR

(Industrials)

110,588

126,837

Asset

World

Corp.

PCL,

NVDR

(Consumer

Discretionary)

13,101

15,278

B

Grimm

Power

PCL,

NVDR

(Utilities)

10,340

14,254

Bangkok

Bank

PCL,

NVDR

(Financials)

52,886

97,244

Bangkok

Dusit

Medical

Services

PCL,

NVDR

(Health

Care)

71,367

116,460

Bangkok

Expressway

&

Metro

PCL,

NVDR

(Industrials)

24,849

61,540

Banpu

PCL,

NVDR

(Energy)

9,033

15,269

Berli

Jucker

PCL,

NVDR

(Consumer

Staples)

9,214

121,815

BTS

Group

Holdings

PCL,

NVDR

(Industrials)

15,893

7,300

Bumrungrad

Hospital

PCL,

NVDR

(Health

Care)

48,018

5,216

Carabao

Group

PCL,

NVDR

(Consumer

Staples)

9,960

25,211

Central

Pattana

PCL,

NVDR

(Real

Estate)

39,232

9,885

Central

Plaza

Hotel

PCL,

NVDR

(Consumer

Discretionary)

11,016

45,860

Central

Retail

Corp.

PCL,

NVDR

(Consumer

Discretionary)

38,019

56,577

Charoen

Pokphand

Foods

PCL,

NVDR

(Consumer

Staples)*

35,063

10,851

Com7

PCL,

NVDR

(Consumer

Discretionary)

5,221

77,127

CP

ALL

PCL,

NVDR

(Consumer

Staples)

120,544

20,631

CP

Axtra

PCL,

NVDR

(Consumer

Staples)

16,122

3,458

Electricity

Generating

PCL,

NVDR

(Utilities)

9,775

30,479

Energy

Absolute

PCL,

NVDR

(Utilities)

18,972

10,151

Global

Power

Synergy

PCL,

NVDR

(Utilities)

12,968

74,501

Gulf

Energy

Development

PCL,

NVDR

(Utilities)

82,014

71,150

Home

Product

Center

PCL,

NVDR

(Consumer

Discretionary)

17,986

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Thailand

–

(continued)

25,563

Indorama

Ventures

PCL,

NVDR

(Materials)

$

16,051

12,994

Intouch

Holdings

PCL,

NVDR

(Communication

Services)

23,752

159,475

IRPC

PCL,

NVDR

(Energy)

8,236

20,794

Kasikornbank

PCL,

NVDR

(Financials)

74,042

10,122

KCE

Electronics

PCL,

NVDR

(Information

Technology)

11,349

70,775

Krung

Thai

Bank

PCL,

NVDR

(Financials)

33,089

14,918

Krungthai

Card

PCL,

NVDR

(Financials)

18,551

76,905

Land

&

Houses

PCL,

NVDR

(Real

Estate)

13,796

46,303

Minor

International

PCL,

NVDR

(Consumer

Discretionary)

38,701

10,320

Muangthai

Capital

PCL,

NVDR

(Financials)

12,483

20,967

Ngern

Tid

Lor

PCL,

NVDR

(Financials)

11,341

25,317

Osotspa

PCL,

NVDR

(Consumer

Staples)

15,690

19,661

PTT

Exploration

&

Production

PCL,

NVDR

(Energy)

82,299

26,925

PTT

Global

Chemical

PCL,

NVDR

(Materials)

25,432

41,319

PTT

Oil

&

Retail

Business

PCL,

NVDR

(Consumer

Discretionary)

20,328

142,762

PTT

PCL,

NVDR

(Energy)

127,085

10,370

Ratch

Group

PCL,

NVDR

(Utilities)

8,033

15,481

SCB

X

PCL,

NVDR

(Financials)

44,604

15,842

SCG

Packaging

PCL,

NVDR

(Materials)

14,318

5,823

Siam

Cement

PCL

(The),

NVDR

(Materials)

37,353

26,327

Siam

Global

House

PCL,

NVDR

(Consumer

Discretionary)

11,879

11,885

Srisawad

Corp.

PCL,

NVDR

(Financials)

13,407

127,622

Thai

Beverage

PCL

(Consumer

Staples)

46,736

36,056

Thai

Life

Insurance

PCL,

NVDR

(Financials)

8,526

15,677

Thai

Oil

PCL,

NVDR

(Energy)

22,052

40,671

Thai

Union

Group

PCL,

NVDR

(Consumer

Staples)

16,472

5,689

Tisco

Financial

Group

PCL,

NVDR

(Financials)

15,116

600,350

TMBThanachart

Bank

PCL,

NVDR

(Financials)

27,578

152,263

True

Corp.

PCL,

NVDR

(Communication

Services)*

35,593

Shares

Description

Value

a

Common

Stocks

–

(continued)

Thailand

–

(continued)

121,679

WHA

Corp.

PCL,

NVDR

(Real

Estate)

$

18,025

1,719,558

Turkey

–

1.2%

1,329

AG

Anadolu

Grubu

Holding

AS

(Industrials)

13,792

4,280

Agrotech

Yueksek

Teknoloji

VE

Yatirim

AS

(Consumer

Staples)*

2,452

9,872

Ahlatci

Dogal

Gaz

Dagitim

Enerji

VE

Yatirim

AS

(Utilities)*

4,469

40,132

Akbank

TAS

(Financials)

82,733

565

Akcansa

Cimento

AS

(Materials)

2,500

4,583

Akfen

Yenilenebilir

Enerji

AS

(Utilities)*

3,842

1,983

Aksa

Akrilik

Kimya

Sanayii

AS

(Consumer

Discretionary)

7,296

2,954

Aksa

Enerji

Uretim

AS

(Utilities)*

4,274

2,035

Alarko

Holding

AS

(Industrials)

7,588

1,067

Alfa

Solar

Enerji

Sanayi

VE

Ticaret

AS

(Information

Technology)*

2,506

2,547

Anadolu

Anonim

Turk

Sigorta

Sirketi

(Financials)*

9,070

3,051

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS

(Consumer

Staples)

18,850

144

Anadolu

Isuzu

Otomotiv

Sanayi

Ve

Ticaret

AS,

Class

C

(Industrials)

442

1,470

Arcelik

AS

(Consumer

Discretionary)

8,261

18,370

Aselsan

Elektronik

Sanayi

Ve

Ticaret

AS

(Industrials)

33,450

3,201

Astor

Transformator

Enerji

Turizm

Insaat

Ve

Petrol

Sanayi

Ticaret

AS

(Industrials)*

9,819

2,187

Aydem

Yenilenebilir

Enerji

AS

(Utilities)*

2,305

1,121

Aygaz

AS

(Utilities)

6,508

1,221

Baskent

Dogalgaz

Dagitim

Gayrimenkul

Yatirim

Ortakligi

AS

(Utilities)

1,179

1,032

Baticim

Bati

Anadolu

Cimento

Sanayii

AS

(Materials)*

4,354

6,353

Bera

Holding

AS

(Industrials)

3,481

6,059

BIM

Birlesik

Magazalar

AS

(Consumer

Staples)

90,295

406

Borusan

Birlesik

Boru

Fabrikalari

Sanayi

ve

Ticaret

AS

(Materials)*

6,224

53

Borusan

Yatirim

ve

Pazarlama

AS

(Financials)

4,015

758

Brisa

Bridgestone

Sabanci

Sanayi

ve

Ticaret

AS

(Consumer

Discretionary)

2,744

3,108

Can2

Termik

AS

(Utilities)*

1,608

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Turkey

–

(continued)

48

Celebi

Hava

Servisi

AS

(Industrials)

$

3,188

5,802

Cimsa

Cimento

Sanayi

VE

Ticaret

AS

(Materials)

5,581

1,072

Coca-Cola

Icecek

AS

(Consumer

Staples)

25,344

452

CW

Enerji

Muhendislik

Ticaret

VE

Sanayi

AS

(Industrials)*

3,313

607

Deva

Holding

AS

(Health

Care)*

1,722

14,652

Dogan

Sirketler

Grubu

Holding

AS

(Consumer

Discretionary)

6,446

707

Dogu

Aras

Enerji

Yatirimlari

AS

(Utilities)

1,371

1,119

Dogus

Otomotiv

Servis

ve

Ticaret

AS

(Consumer

Discretionary)

10,527

261

Eczacibasi

Yatirim

Holding

Ortakligi

AS

(Industrials)*

1,923

16

EGE

Endustri

VE

Ticaret

AS

(Consumer

Discretionary)

6,393

2,286

EIS

Eczacibasi

Ilac

ve

Sinai

ve

Finansal

Yatirimlar

Sanayi

ve

Ticaret

AS

(Consumer

Staples)*

3,747

30,065

Emlak

Konut

Gayrimenkul

Yatirim

Ortakligi

AS

REIT

(Real

Estate)*

8,261

3,669

Enerjisa

Enerji

AS

(Utilities)

(a)

6,886

563

Enerya

Enerji

AS

(Utilities)*

3,099

7,880

Enka

Insaat

ve

Sanayi

AS

(Industrials)

10,173

24,568

Eregli

Demir

ve

Celik

Fabrikalari

TAS

(Materials)

36,567

914

Europower

Enerji

VE

Otomasyon

Teknolojileri

Sanayi

Ticaret

AS

(Industrials)*

3,377

916

Ford

Otomotiv

Sanayi

AS

(Consumer

Discretionary)

31,084

1,368

GEN

Ilac

VE

Saglik

Urunleri

Sanayi

VE

Ticaret

AS

(Health

Care)*

2,567

1,978

Girisim

Elektrik

Taahhut

Ticaret

Ve

Sanayi

AS

(Industrials)*

3,691

1,166

Gubre

Fabrikalari

TAS

(Materials)*

5,513

15,204

Haci

Omer

Sabanci

Holding

AS

(Financials)

46,118

14,951

Hektas

Ticaret

TAS

(Materials)*

6,777

558

Investco

Holding

AS

(Financials)*

5,717

7,224

Is

Gayrimenkul

Yatirim

Ortakligi

AS

REIT

(Real

Estate)*

3,732

8,645

Is

Yatirim

Menkul

Degerler

AS

(Financials)

10,435

2,035

Izdemir

Enerji

Elektrik

Uretim

AS

(Utilities)*

1,486

8,648

Izmir

Demir

Celik

Sanayi

AS

(Materials)*

1,759

Shares

Description

Value

a

Common

Stocks

–

(continued)

Turkey

–

(continued)

2,784

Jantsa

Jant

Sanayi

Ve

Ticaret

AS

(Industrials)

$

2,877

1,624

Kaleseramik

Canakkale

Kalebodur

Seramik

Sanayi

AS

(Industrials)*

2,524

3,465

Kardemir

Karabuk

Demir

Celik

Sanayi

ve

Ticaret

AS,

Class

A

(Materials)

2,689

615

Kardemir

Karabuk

Demir

Celik

Sanayi

ve

Ticaret

AS,

Class

B

(Materials)

423

11,647

Kardemir

Karabuk

Demir

Celik

Sanayi

ve

Ticaret

AS,

Class

D

(Materials)

10,515

792

Katilimevim

Tasarruf

Finansman

AS

(Financials)

1,333

1,573

Kayseri

Seker

Fabrikasi

AS

(Consumer

Staples)

1,369

3,504

Kiler

Holding

AS

(Industrials)*

3,564

968

Kimteks

Poliuretan

Sanayi

VE

Ticaret

AS

(Materials)

1,752

9,871

KOC

Holding

AS

(Industrials)

73,000

2,334

Kocaer

Celik

Sanayi

Ve

Ticaret

AS

(Materials)*

3,884

1,065

Kontrolmatik

Enerji

Ve

Muhendislik

AS

(Industrials)

6,712

3

Konya

Cimento

Sanayii

AS

(Materials)*

841

1,012

Kordsa

Teknik

Tekstil

AS

(Consumer

Discretionary)*

2,839

15,007

Koza

Altin

Isletmeleri

AS

(Materials)

9,728

2,898

Koza

Anadolu

Metal

Madencilik

Isletmeleri

AS

(Materials)*

4,465

4,015

Margun

Enerji

Uretim

Sanayi

VE

Ticaret

AS

(Utilities)*

3,034

4,268

Mavi

Giyim

Sanayi

Ve

Ticaret

AS,

Class

B

(Consumer

Discretionary)

(a)

12,648

3,557

MIA

Teknoloji

AS

(Information

Technology)*

5,504

1,374

Migros

Ticaret

AS

(Consumer

Staples)

20,273

1,173

MLP

Saglik

Hizmetleri

AS

(Health

Care)*

(a)

9,842

401

Nuh

Cimento

Sanayi

AS

(Materials)

3,196

17,345

ODAS

Elektrik

Uretim

ve

Sanayi

Ticaret

AS

(Utilities)*

4,685

503

Otokar

Otomotiv

Ve

Savunma

Sanayi

A.S.

(Industrials)

9,518

3,872

Oyak

Cimento

Fabrikalari

AS

(Materials)*

7,291

3,220

Pegasus

Hava

Tasimaciligi

AS

(Industrials)*

20,174

15,927

Petkim

Petrokimya

Holding

AS

(Materials)*

10,077

11

Politeknik

Metal

Sanayi

ve

Ticaret

AS

(Materials)

5,533

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Turkey

–

(continued)

9,773

Qua

Granite

Hayal

(Industrials)*

$

1,029

3,065

Reeder

Teknoloji

Sanayi

VE

Ticaret

AS

(Information

Technology)*

3,492

6,201

Sarkuysan

Elektrolitik

Bakir

Sanayi

ve

Ticaret

AS

(Industrials)

6,264

19,796

Sasa

Polyester

Sanayi

AS

(Materials)*

27,030

198

SDT

Uzay

VE

Savunma

Teknolojileri

AS

(Industrials)

1,830

1,833

Selcuk

Ecza

Deposu

Ticaret

ve

Sanayi

A.S.

(Health

Care)

2,775

2,346

Smart

Gunes

Enerjisi

Teknolojileri

ArGE

Uretim

Sanayi

ve

Ticaret

AS

(Information

Technology)*

3,656

4,066

Sok

Marketler

Ticaret

AS

(Consumer

Staples)

7,391

748

TAB

Gida

Sanayi

Ve

Ticaret

AS

(Consumer

Discretionary)*

4,180

2,702

TAV

Havalimanlari

Holding

AS

(Industrials)*

20,192

2,851

Tekfen

Holding

AS

(Industrials)*

4,660

1,928

Tofas

Turk

Otomobil

Fabrikasi

AS

(Consumer

Discretionary)

18,481

2,803

Torunlar

Gayrimenkul

Yatirim

Ortakligi

AS

REIT

(Real

Estate)*

4,146

9,934

Turk

Hava

Yollari

AO

(Industrials)*

93,374

7,835

Turk

Telekomunikasyon

AS

(Communication

Services)*

11,219

403

Turk

Traktor

ve

Ziraat

Makineleri

AS

(Industrials)

12,487

16,934

Turkcell

Iletisim

Hizmetleri

AS

(Communication

Services)

52,365

9,667

Turkiye

Halk

Bankasi

AS

(Financials)*

5,294

120,307

Turkiye

Is

Bankasi

AS,

Class

C

(Financials)

60,173

13,220

Turkiye

Petrol

Rafinerileri

AS

(Energy)

72,525

3,208

Turkiye

Sigorta

AS

(Financials)

7,560

15,977

Turkiye

Sinai

Kalkinma

Bankasi

AS

(Financials)*

5,481

22,084

Turkiye

Sise

ve

Cam

Fabrikalari

AS

(Industrials)

34,049

2,189

Ulker

Biskuvi

Sanayi

AS

(Consumer

Staples)*

9,277

3,973

Vestel

Beyaz

Esya

Sanayi

ve

Ticaret

AS

(Consumer

Discretionary)

2,941

1,420

Vestel

Elektronik

Sanayi

ve

Ticaret

AS

(Consumer

Discretionary)*

3,690

Shares

Description

Value

a

Common

Stocks

–

(continued)

Turkey

–

(continued)

48,326

Yapi

ve

Kredi

Bankasi

AS

(Financials)

$

48,492

2,546

Yayla

Agro

Gida

Sanayi

VE

Nakliyat

AS

(Consumer

Staples)

999

503

YEO

Teknoloji

Enerji

VE

Endustri

AS

(Industrials)*

2,855

21,414

Zorlu

Enerji

Elektrik

Uretim

AS

(Utilities)*

3,736

1,362,787

United

Arab

Emirates

–

2.4%

41,567

Abu

Dhabi

Commercial

Bank

PJSC

(Financials)

88,271

20,728

Abu

Dhabi

Islamic

Bank

PJSC

(Financials)

63,317

45,118

Abu

Dhabi

National

Energy

Co.

PJSC

(Utilities)

31,937

43,242

Abu

Dhabi

National

Oil

Co.

for

Distribution

PJSC

(Consumer

Discretionary)

38,144

27,673

ADNOC

Drilling

Co.

PJSC

(Energy)

30,136

109,508

Adnoc

Gas

PLC

(Energy)

88,845

53,872

Aldar

Properties

PJSC

(Real

Estate)

80,668

19,775

Alpha

Dhabi

Holding

PJSC

(Industrials)*

58,468

44,352

Borouge

PLC

(Materials)

28,618

128,411

Dubai

Electricity

&

Water

Authority

PJSC

(Utilities)

80,059

42,728

Dubai

Islamic

Bank

PJSC

(Financials)

64,213

88,617

Emaar

Properties

PJSC

(Real

Estate)

184,807

35,067

Emirates

NBD

Bank

PJSC

(Financials)

148,458

49,633

Emirates

Telecommunications

Group

Co.

PJSC

(Communication

Services)

217,555

63,050

First

Abu

Dhabi

Bank

PJSC

(Financials)

199,121

10,547

International

Holding

Co.

PJSC

(Industrials)*

1,168,682

38,048

Pure

Health

Holding

PJSC

(Health

Care)*

37,188

2,608,487

United

States

–

0.1%

10,224

JBS

SA

(Consumer

Staples)

56,101

1,120

Parade

Technologies

Ltd.

(Information

Technology)

26,588

82,689

TOTAL

COMMON

STOCKS

(Cost

$97,319,620)

108,201,658

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Rate

Value

a

Preferred

Stocks

–

2.0%

Brazil

–

1.3%

74,084

Banco

Bradesco

SA

(Financials)

8.64

%

$

178,590

3,007

Braskem

SA

(Materials)*

0.00

10,813

3,809

Centrais

Eletricas

Brasileiras

SA,

Class

B

(Utilities)

4.66

28,358

28,113

Cia

Energetica

de

Minas

Gerais

(Utilities)

10.84

53,221

15,256

Cia

Paranaense

de

Energia

(Utilities)

4.19

26,356

19,582

Gerdau

SA

(Materials)

6.15

67,472

69,091

Itau

Unibanco

Holding

SA

(Financials)

7.55

407,906

77,134

Itausa

SA

(Financials)

8.60

142,796

1

Klabin

SA

(Materials)

5.22

1

65,158

Petroleo

Brasileiro

SA

(Energy)

13.69

480,889

18,264

Raizen

SA

(Consumer

Discretionary)

6.80

9,904

1,406,306

Chile

–

0.1%

2,080

Sociedad

Quimica

y

Minera

de

Chile

SA,

Class

B

(Industrials)

1.83

97,355

Colombia

–

0.0%

6,812

Bancolombia

SA

(Financials)

10.38

59,968

Russia

–

0.0%

4,252

Sberbank

of

Russia

PJSC

(Financials)*

(c)

7.99

—

31,665

Surgutneftegas

PJSC

(Energy)

(c)

1.17

—

640

Tatneft

PJSC

(Energy)

(c)

13.28

—

—

South

Korea

–

0.6%

512

Hyundai

Motor

Co.

(Consumer

Discretionary)

13.14

56,801

309

Hyundai

Motor

Co.

(Consumer

Discretionary)

13.19

34,235

34

Hyundai

Motor

Co.

(Consumer

Discretionary)

13.31

3,742

Shares

Description

Rate

Value

a

Preferred

Stocks

–

(continued)

South

Korea

–

(continued)

107

LG

Chem

Ltd.

(Materials)

1.45

%

$

18,316

301

LG

Electronics,

Inc.

(Consumer

Discretionary)

1.81

10,207

11,726

Samsung

Electronics

Co.

Ltd.

(Information

Technology)

2.34

510,691

50

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

(Financials)

5.90

9,570

643,562

TOTAL

PREFERRED

STOCKS

(Cost

$2,192,321)

2,207,191

Shares

Description

Value

Exchange-Traded

Fund

–

0.2%

United

States

–

0.2%

12,873

iShares

MSCI

Malaysia

ETF

(Cost

$302,161)

295,693

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.9%

(d)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

953,141

5.180%

953,141

(Cost

$953,141)

TOTAL

INVESTMENTS

BEFORE

SECURITIES

LENDING

REINVESTMENT

VEHICLE

(Cost

$100,767,243)

111,657,683

a

Securities

Lending

Reinvestment

Vehicle

–

0.4%

(d)

a

a

a

a

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

430,908

5.227%

430,908

(Cost

$430,908)

TOTAL

INVESTMENTS

–

100.8%

(Cost

$101,198,151)

$

112,088,591

LIABILITIES

IN

EXCESS

OF

OTHER

ASSETS

–

(0.8)%

(862,247)

NET

ASSETS

–

100.0%

$

111,226,344

  a

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.

GOLDMAN

SACHS

MARKETBETA

®

EMERGING

MARKETS

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

Investment

Abbreviations:

ADR

—

American

Depositary

Receipt

NVDR

—

Non-Voting

Depository

Receipt

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

Sector

Name

%

of

Market

Value

Information

Technology

22.1

%

Financials

21.8

Consumer

Discretionary

11.9

Industrials

8.9

Communication

Services

8.2

Materials

7.2

Energy

5.4

Consumer

Staples

5.1

Utilities

3.2

Health

Care

3.1

Real

Estate

1.6

Investment

Company

0.9

Exchange-Traded

Fund

0.2

Securities

Lending

Reinvestment

Vehicle

0.4

TOTAL

INVESTMENTS

100.0%

FUTURES

CONTRACTS

—

At

May

31,

2024,

the

Portfolio

had

the

following

futures

contracts:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

position

contracts:

MSCI

Emerging

Markets

Index

7

06/21/24

$

369,775

$

(1,399)

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

98.5%

Australia

–

7.5%

28,218

AGL

Energy

Ltd.

(Utilities)

$

191,980

11,206

Ampol

Ltd.

(Energy)

258,753

142,866

ANZ

Group

Holdings

Ltd.

(Financials)

2,684,119

60,328

APA

Group

(Utilities)

330,598

27,799

Aristocrat

Leisure

Ltd.

(Consumer

Discretionary)

830,654

9,018

ASX

Ltd.

(Financials)

373,939

55,682

Atlas

Arteria

Ltd.

(Industrials)

197,007

86,351

Aurizon

Holdings

Ltd.

(Industrials)

211,334

241,215

BHP

Group

Ltd.

(Materials)

7,140,297

21,359

BlueScope

Steel

Ltd.

(Materials)

300,290

65,278

Brambles

Ltd.

(Industrials)

618,203

15,847

CAR

Group

Ltd.

(Communication

Services)

367,707

21,863

Charter

Hall

Group

REIT

(Real

Estate)

176,225

3,083

Cochlear

Ltd.

(Health

Care)

661,361

60,926

Coles

Group

Ltd.

(Consumer

Staples)

665,319

79,546

Commonwealth

Bank

of

Australia

(Financials)

6,323,915

24,757

Computershare

Ltd.

(Industrials)

436,972

49,897

Dexus

REIT

(Real

Estate)

224,988

7,142

EBOS

Group

Ltd.

(Health

Care)

145,025

63,463

Endeavour

Group

Ltd.

(Consumer

Staples)

209,342

93,048

Evolution

Mining

Ltd.

(Materials)

242,576

75,072

Fortescue

Ltd.

(Materials)

1,235,185

442,693

Glencore

PLC

(Materials)

2,709,686

87,456

Goodman

Group

REIT

(Real

Estate)

1,949,611

89,997

GPT

Group

(The)

REIT

(Real

Estate)

250,782

13,083

IDP

Education

Ltd.

(Consumer

Discretionary)

138,779

31,077

IGO

Ltd.

(Materials)

144,468

114,638

Insurance

Australia

Group

Ltd.

(Financials)

472,688

32,352

Lendlease

Corp.

Ltd.

(Real

Estate)

128,234

104,661

Lottery

Corp.

Ltd.

(The)

(Consumer

Discretionary)

338,975

43,517

Lynas

Rare

Earths

Ltd.

(Materials)*

192,747

17,240

Macquarie

Group

Ltd.

(Financials)

2,189,331

129,460

Medibank

Pvt

Ltd.

(Financials)

320,282

7,894

Mineral

Resources

Ltd.

(Materials)

376,208

185,023

Mirvac

Group

REIT

(Real

Estate)

241,177

148,657

National

Australia

Bank

Ltd.

(Financials)

3,352,490

Shares

Description

Value

a

Common

Stocks

–

(continued)

Australia

–

(continued)

52,864

Northern

Star

Resources

Ltd.

(Materials)

$

504,506

22,928

Orica

Ltd.

(Materials)

279,348

80,344

Origin

Energy

Ltd.

(Utilities)

544,480

129,044

Pilbara

Minerals

Ltd.

(Materials)

325,261

2,293

Pro

Medicus

Ltd.

(Health

Care)

183,178

80,715

Qantas

Airways

Ltd.

(Industrials)*

330,129

70,095

QBE

Insurance

Group

Ltd.

(Financials)

829,777

8,519

Ramsay

Health

Care

Ltd.

(Health

Care)

266,905

2,368

REA

Group

Ltd.

(Communication

Services)

294,038

13,858

Reece

Ltd.

(Industrials)

239,254

17,630

Rio

Tinto

Ltd.

(Materials)

1,512,035

50,842

Rio

Tinto

PLC

(Materials)

3,544,729

152,572

Santos

Ltd.

(Energy)

774,201

243,885

Scentre

Group

REIT

(Real

Estate)

510,917

16,106

SEEK

Ltd.

(Communication

Services)

240,362

7,250

Seven

Group

Holdings

Ltd.

(Industrials)

188,959

21,151

Sonic

Healthcare

Ltd.

(Health

Care)

342,237

212,533

South32

Ltd.

(Materials)

561,140

112,186

Stockland

REIT

(Real

Estate)

335,742

59,396

Suncorp

Group

Ltd.

(Financials)

628,466

548,964

Telstra

Group

Ltd.

(Communication

Services)

1,266,857

18,415

TPG

Telecom

Ltd.

(Communication

Services)

56,948

144,683

Transurban

Group

(Industrials)

1,203,730

38,302

Treasury

Wine

Estates

Ltd.

(Consumer

Staples)

288,606

180,519

Vicinity

Ltd.

REIT

(Real

Estate)

234,106

10,878

Washington

H

Soul

Pattinson

&

Co.

Ltd.

(Financials)

224,556

53,508

Wesfarmers

Ltd.

(Consumer

Discretionary)

2,309,143

166,178

Westpac

Banking

Corp.

(Financials)

2,871,224

36,885

Whitehaven

Coal

Ltd.

(Energy)

197,715

8,042

WiseTech

Global

Ltd.

(Information

Technology)

517,023

90,238

Woodside

Energy

Group

Ltd.

(Energy)

1,662,354

56,821

Woolworths

Group

Ltd.

(Consumer

Staples)

1,194,127

17,491

Worley

Ltd.

(Industrials)

170,415

61,263,715

Austria

–

0.3%

3,352

ANDRITZ

AG

(Industrials)

199,959

3,675

BAWAG

Group

AG

(Financials)*

(a)

241,769

1,597

CA

Immobilien

Anlagen

AG

(Real

Estate)

51,699

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Austria

–

(continued)

15,386

Erste

Group

Bank

AG

(Financials)

$

753,308

1,674

EVN

AG

(Utilities)

52,247

20,750

Mondi

PLC

(Materials)

412,399

6,655

OMV

AG

(Energy)

334,069

6,995

Raiffeisen

Bank

International

AG

(Financials)

128,487

6,416

Telekom

Austria

AG

(Communication

Services)*

60,528

1,528

Verbund

AG

(Utilities)

125,737

1,665

Vienna

Insurance

Group

AG

Wiener

Versicherung

Gruppe

(Financials)

53,322

5,258

voestalpine

AG

(Materials)

153,319

5,020

Wienerberger

AG

(Materials)

188,015

2,754,858

Belgium

–

0.8%

1,033

Ackermans

&

van

Haaren

NV

(Industrials)

182,680

7,127

Ageas

SA/NV

(Financials)

353,585

44,784

Anheuser-Busch

InBev

SA/NV

(Consumer

Staples)

2,801,343

5,377

Azelis

Group

NV

(Industrials)

113,477

2,379

Colruyt

Group

NV

(Consumer

Staples)

121,591

983

D’ieteren

Group

(Consumer

Discretionary)

213,002

1,311

Elia

Group

SA/NV

(Utilities)

132,929

4,287

Groupe

Bruxelles

Lambert

NV

(Financials)

326,709

11,742

KBC

Group

NV

(Financials)

852,273

7,782

Liberty

Global

Ltd.,

Class

A

(Communication

Services)*

129,726

8,239

Liberty

Global

Ltd.,

Class

C

(Communication

Services)*

140,639

704

Sofina

SA

(Financials)

169,819

3,283

Solvay

SA

(Materials)

(b)

119,858

3,283

Syensqo

SA

(Materials)

325,823

5,656

UCB

SA

(Health

Care)

789,931

9,498

Umicore

SA

(Materials)

186,939

8,290

Warehouses

De

Pauw

CVA

REIT

(Real

Estate)

240,830

7,201,154

Brazil

–

0.0%

7,231

Yara

International

ASA

(Materials)

223,715

Chile

–

0.1%

15,400

Antofagasta

PLC

(Materials)

431,949

China

–

1.0%

236,771

Alibaba

Health

Information

Technology

Ltd.

(Consumer

Staples)*

(b)

99,268

79,593

Budweiser

Brewing

Co.

APAC

Ltd.

(Consumer

Staples)

(a)

100,517

Shares

Description

Value

a

Common

Stocks

–

(continued)

China

–

(continued)

35,341

BYD

Electronic

International

Co.

Ltd.

(Information

Technology)

$

152,687

126,808

China

Gas

Holdings

Ltd.

(Utilities)

119,784

139,832

China

Mengniu

Dairy

Co.

Ltd.

(Consumer

Staples)*

256,666

82,124

Chow

Tai

Fook

Jewellery

Group

Ltd.

(Consumer

Discretionary)

105,393

392,480

CSPC

Pharmaceutical

Group

Ltd.

(Health

Care)

332,612

130,153

ESR

Group

Ltd.

(Real

Estate)

(a)

(b)

183,001

98,082

Fosun

International

Ltd.

(Industrials)

54,912

270,736

Geely

Automobile

Holdings

Ltd.

(Consumer

Discretionary)

327,720

12,347

NXP

Semiconductors

NV

(Information

Technology)

3,359,619

71,004

Prosus

NV

(Consumer

Discretionary)*

2,572,997

44,954

Wharf

Holdings

Ltd.

(The)

(Real

Estate)

133,598

111,901

Wilmar

International

Ltd.

(Consumer

Staples)

255,807

74,253

Xinyi

Glass

Holdings

Ltd.

(Industrials)

91,780

124,723

Yangzijiang

Shipbuilding

Holdings

Ltd.

(Industrials)

210,378

8,356,739

Denmark

–

3.6%

126

AP

Moller

–

Maersk

A/S,

Class

A

(Industrials)

220,798

154

AP

Moller

–

Maersk

A/S,

Class

B

(Industrials)

279,391

4,280

Carlsberg

AS,

Class

B

(Consumer

Staples)

578,707

6,142

Coloplast

A/S,

Class

B

(Health

Care)

737,322

31,498

Danske

Bank

A/S

(Financials)

965,932

3,977

Demant

A/S

(Health

Care)*

190,437

8,329

DSV

A/S

(Industrials)

1,277,711

3,038

Genmab

A/S

(Health

Care)*

856,478

151,021

Novo

Nordisk

A/S,

Class

B

(Health

Care)

20,382,461

17,030

Novonesis

(

Novozymes

)

B,

Class

B

(Materials)

1,012,773

8,871

Orsted

AS

(Utilities)*

(a)

540,856

4,162

Pandora

A/S

(Consumer

Discretionary)

680,875

560

Svitzer

A/S

(Industrials)*

21,966

14,991

Tryg

A/S

(Financials)

308,080

47,882

Vestas

Wind

Systems

A/S

(Industrials)*

1,343,974

29,397,761

Faroe

Islands

–

0.0%

2,327

Bakkafrost

P/F

(Consumer

Staples)

127,855

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Finland

–

1.0%

6,606

Elisa

OYJ

(Communication

Services)

$

306,222

20,263

Fortum

OYJ

(Utilities)

308,296

4,907

Huhtamaki

OYJ

(Materials)

197,847

12,668

Kesko

OYJ,

Class

B

(Consumer

Staples)

229,940

15,585

Kone

OYJ,

Class

B

(Industrials)

791,644

32,740

Metso

Corp.

(Industrials)

397,721

20,182

Neste

OYJ

(Energy)

422,088

248,391

Nokia

OYJ

(Information

Technology)

968,326

151,707

Nordea

Bank

Abp

(Financials)

1,860,210

4,995

Orion

OYJ,

Class

B

(Health

Care)

203,238

20,787

Sampo

OYJ,

Class

A

(Financials)

890,018

26,811

Stora

Enso

OYJ,

Class

R

(Materials)

390,312

24,814

UPM-

Kymmene

OYJ

(Materials)

946,874

22,814

Wartsila

OYJ

Abp

(Industrials)

475,648

8,388,384

France

–

8.6%

1,286

Aeroports

de

Paris

SA

(Industrials)

183,026

24,258

Air

Liquide

SA

(Materials)

4,752,324

27,864

Airbus

SE

(Industrials)

4,715,847

84,661

AXA

SA

(Financials)

3,037,561

47,698

BNP

Paribas

SA

(Financials)

(b)

3,505,573

37,364

Bollore

SE

(Communication

Services)

250,270

9,151

Bouygues

SA

(Industrials)

357,636

7,528

Capgemini

SE

(Information

Technology)

1,516,798

22,138

Cie

de

Saint-Gobain

SA

(Industrials)

1,936,581

31,569

Cie

Generale

des

Etablissements

Michelin

SCA

(Consumer

Discretionary)

1,273,180

52,119

Credit

Agricole

SA

(Financials)

(b)

844,463

30,000

Danone

SA

(Consumer

Staples)

1,925,421

32,302

Dassault

Systemes

(Information

Technology)

1,299,936

83,291

Engie

SA

(Utilities)

1,404,687

13,644

EssilorLuxottica

SA

(Health

Care)

3,040,891

1,541

Hermes

International

SCA

(Consumer

Discretionary)

3,640,254

3,361

Kering

(Consumer

Discretionary)

1,157,369

12,053

Legrand

SA

(Industrials)

1,296,698

10,663

L'Oreal

SA

(Consumer

Staples)

5,233,401

12,366

LVMH

Moet

Hennessy

Louis

Vuitton

SE

(Consumer

Discretionary)

9,865,693

88,039

Orange

SA

(Communication

Services)

(b)

1,025,044

Shares

Description

Value

a

Common

Stocks

–

(continued)

France

–

(continued)

9,230

Pernod

Ricard

SA

(Consumer

Staples)

$

1,372,252

16,865

Safran

SA

(Industrials)

3,919,883

1,320

Sartorius

Stedim

Biotech

(Health

Care)

261,736

35,126

Societe

Generale

SA

(Financials)

1,044,458

4,569

Thales

SA

(Industrials)

826,602

106,725

TotalEnergies

SE

(Energy)

7,763,828

23,074

Vinci

SA

(Industrials)

2,866,875

70,318,287

Germany

–

7.4%

7,886

adidas

AG

(Consumer

Discretionary)

1,981,882

18,643

Allianz

SE

(Financials)

5,430,084

42,542

BASF

SE

(Materials)

2,235,749

46,758

Bayer

AG

(Health

Care)

1,433,477

14,478

Bayerische

Motoren

Werke

AG

(Consumer

Discretionary)

1,464,540

4,595

Beiersdorf

AG

(Consumer

Staples)

720,066

4,380

BioNTech

SE

ADR

(Health

Care)*

438,642

1,717

Carl

Zeiss

Meditec

AG

(Health

Care)

157,786

5,086

Continental

AG

(Consumer

Discretionary)

343,650

25,333

Daimler

Truck

Holding

AG

(Industrials)

1,077,235

92,727

Deutsche

Bank

AG

(Financials)

1,532,718

8,738

Deutsche

Boerse

AG

(Financials)

1,734,985

44,985

Deutsche

Post

AG

(Industrials)

1,887,990

153,649

Deutsche

Telekom

AG

(Communication

Services)

3,718,005

105,322

E.ON

SE

(Utilities)

1,404,066

9,445

Evonik

Industries

AG

(Materials)

206,813

9,364

Fresenius

Medical

Care

AG

(Health

Care)

398,287

19,359

Fresenius

SE

&

Co.

KGaA

(Health

Care)*

615,353

2,828

Hannover

Rueck

SE

(Financials)

700,592

296

Hapag

-Lloyd

AG

(Industrials)

(a)

55,945

6,187

Heidelberg

Materials

AG

(Materials)

642,914

4,530

Henkel

AG

&

Co.

KGaA

(Consumer

Staples)

361,948

61,981

Infineon

Technologies

AG

(Information

Technology)

2,477,830

3,111

Knorr-

Bremse

AG

(Industrials)

238,438

37,415

Mercedes-Benz

Group

AG

(Consumer

Discretionary)

2,697,019

6,082

Merck

KGaA

(Health

Care)

1,099,337

2,530

MTU

Aero

Engines

AG

(Industrials)

627,591

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Germany

–

(continued)

6,486

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

(Financials)

$

3,224,168

2,067

Rheinmetall

AG

(Industrials)

1,184,350

35,403

RWE

AG

(Utilities)

1,339,024

48,712

SAP

SE

(Information

Technology)

8,776,260

35,224

Siemens

AG

(Industrials)

6,740,041

23,549

Siemens

Energy

AG

(Industrials)*

634,519

12,667

Siemens

Healthineers

AG

(Health

Care)

(a)

734,045

6,246

Symrise

AG

(Materials)

741,465

2,849

Talanx

AG

(Financials)

226,244

1,336

Volkswagen

AG

(Consumer

Discretionary)

190,142

32,725

Vonovia

SE

(Real

Estate)

1,023,157

60,496,357

Guatemala

–

0.0%

6,072

Millicom

International

Cellular

SA

SDR,

SDR

(Communication

Services)*

151,609

Hong

Kong

–

1.7%

538,356

AIA

Group

Ltd.

(Financials)

4,159,806

28,343

Cathay

Pacific

Airways

Ltd.

(Industrials)

29,671

89,221

CK

Asset

Holdings

Ltd.

(Real

Estate)

351,827

28,547

CK

Infrastructure

Holdings

Ltd.

(Utilities)

164,568

89,178

CLP

Holdings

Ltd.

(Utilities)

705,025

14,265

DFI

Retail

Group

Holdings

Ltd.

(Consumer

Staples)

26,248

3,351

Futu

Holdings

Ltd.

ADR

(Financials)*

251,794

81,809

Hang

Lung

Properties

Ltd.

(Real

Estate)

74,559

33,894

Hang

Seng

Bank

Ltd.

(Financials)

470,500

61,899

Henderson

Land

Development

Co.

Ltd.

(Real

Estate)

192,264

106,388

HK

Electric

Investments

&

HK

Electric

Investments

Ltd.

(Utilities)

65,138

169,779

HKT

Trust

&

HKT

Ltd.

(Communication

Services)

197,267

430,382

Hong

Kong

&

China

Gas

Co.

Ltd.

(Utilities)

333,926

56,817

Hong

Kong

Exchanges

&

Clearing

Ltd.

(Financials)

1,908,582

48,580

Hongkong

Land

Holdings

Ltd.

(Real

Estate)

164,686

9,278

Jardine

Matheson

Holdings

Ltd.

(Industrials)

341,430

119,876

Link

REIT

(Real

Estate)

502,589

73,617

MTR

Corp.

Ltd.

(Industrials)

249,363

Shares

Description

Value

a

Common

Stocks

–

(continued)

Hong

Kong

–

(continued)

64,129

Power

Assets

Holdings

Ltd.

(Utilities)

$

354,936

129,409

Prudential

PLC

(Financials)

1,230,785

461,057

Sino

Biopharmaceutical

Ltd.

(Health

Care)

167,371

158,389

Sino

Land

Co.

Ltd.

(Real

Estate)

168,039

68,467

Sun

Hung

Kai

Properties

Ltd.

(Real

Estate)

658,997

19,263

Swire

Pacific

Ltd.,

Class

A

(Real

Estate)

167,309

35,940

Swire

Pacific

Ltd.,

Class

B

(Real

Estate)

47,961

49,471

Swire

Properties

Ltd.

(Real

Estate)

90,679

64,145

Techtronic

Industries

Co.

Ltd.

(Industrials)

784,661

357,037

WH

Group

Ltd.

(Consumer

Staples)

(a)

242,791

72,786

Wharf

Real

Estate

Investment

Co.

Ltd.

(Real

Estate)

210,729

14,313,501

Ireland

–

0.5%

9,303

AerCap

Holdings

NV

(Industrials)

862,481

73,448

AIB

Group

PLC

(Financials)

416,218

49,626

Bank

of

Ireland

Group

PLC

(Financials)

566,485

7,379

Kerry

Group

PLC,

Class

A

(Consumer

Staples)

623,228

7,208

Kingspan

Group

PLC

(Industrials)

690,166

12,172

Smurfit

Kappa

Group

PLC

(Materials)

590,663

3,749,241

Israel

–

0.8%

2,712

Airport

City

Ltd.

(Real

Estate)*

40,166

10,155

Amot

Investments

Ltd.

(Real

Estate)

39,579

1,717

Azrieli

Group

Ltd.

(Real

Estate)

103,473

58,435

Bank

Hapoalim

BM

(Financials)

534,040

68,898

Bank

Leumi

Le-Israel

BM

(Financials)

568,548

94,125

Bezeq

The

Israeli

Telecommunication

Corp.

Ltd.

(Communication

Services)

113,093

738

Big

Shopping

Centers

Ltd.

(Real

Estate)*

72,029

1,162

Camtek

Ltd.

(Information

Technology)

126,092

4,302

Check

Point

Software

Technologies

Ltd.

(Information

Technology)*

647,451

436

Delek

Group

Ltd.

(Energy)

49,550

1,161

Elbit

Systems

Ltd.

(Industrials)

219,386

12,204

Energix

-Renewable

Energies

Ltd.

(Utilities)

50,255

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Israel

–

(continued)

5,447

Enlight

Renewable

Energy

Ltd.

(Utilities)*

(b)

$

93,851

309

Fattal

Holdings

1998

Ltd.

(Consumer

Discretionary)*

35,457

2,434

First

International

Bank

Of

Israel

Ltd.

(The)

(Financials)

98,530

3,201

Global-e

Online

Ltd.

(Consumer

Discretionary)*

99,935

5,169

Harel

Insurance

Investments

&

Financial

Services

Ltd.

(Financials)

44,114

32,785

ICL

Group

Ltd.

(Materials)

152,544

172

Israel

Corp.

Ltd.

(Materials)

40,186

58,184

Israel

Discount

Bank

Ltd.,

Class

A

(Financials)

296,996

1,175

Melisron

Ltd.

(Real

Estate)

77,506

27,538

Mivne

Real

Estate

KD

Ltd.

(Real

Estate)

63,836

7,078

Mizrahi

Tefahot

Bank

Ltd.

(Financials)

256,652

2,977

Nice

Ltd.

(Information

Technology)*

565,024

1,344

Nova

Ltd.

(Information

Technology)*

289,081

4,791

OPC

Energy

Ltd.

(Utilities)*

36,960

7,692

Phoenix

Holdings

Ltd.

(The)

(Financials)

73,233

3,693

Plus500

Ltd.

(Financials)

105,135

6,674

Shapir

Engineering

and

Industry

Ltd.

(Industrials)*

33,708

2,364

Strauss

Group

Ltd.

(Consumer

Staples)

38,679

52,415

Teva

Pharmaceutical

Industries

Ltd.

(Health

Care)*

865,059

5,164

Tower

Semiconductor

Ltd.

(Information

Technology)*

191,969

2,577

Wix.com

Ltd.

(Information

Technology)*

415,155

6,437,272

Italy

–

2.6%

73,128

A2A

SpA

(Utilities)

153,139

6,156

Amplifon

SpA

(Health

Care)

226,218

48,291

Assicurazioni

Generali

SpA

(Financials)

(b)

1,237,224

9,543

Banca

Mediolanum

SpA

(Financials)

109,297

64,725

Banco

BPM

SpA

(Financials)

464,033

23,045

Davide

Campari-Milano

NV

(Consumer

Staples)

229,512

365,479

Enel

SpA

(Utilities)

2,640,863

100,955

Eni

SpA

(Energy)

1,588,716

6,214

Ferrari

NV

(Consumer

Discretionary)

2,545,911

28,681

FinecoBank

Banca

Fineco

SpA

(Financials)

462,216

14,635

Infrastrutture

Wireless

Italiane

SpA

(Communication

Services)

(a)

159,672

Shares

Description

Value

a

Common

Stocks

–

(continued)

Italy

–

(continued)

738,342

Intesa

Sanpaolo

SpA

(Financials)

$

2,890,370

18,834

Leonardo

SpA

(Industrials)*

481,917

28,448

Mediobanca

Banca

di

Credito

Finanziario

SpA

(Financials)

448,424

9,122

Moncler

SpA

(Consumer

Discretionary)

606,451

22,844

Nexi

SpA

(Financials)*

(a)

151,029

11,852

Pirelli

&

C

SpA

(Consumer

Discretionary)

(a)

78,177

21,428

Poste

Italiane

SpA

(Financials)

(a)

293,104

24,095

PRADA

SpA

(Consumer

Discretionary)

198,652

12,597

Prysmian

SpA

(Industrials)

820,792

4,585

Recordati

Industria

Chimica

e

Farmaceutica

SpA

(Health

Care)

240,910

8,210

Ryanair

Holdings

PLC

ADR

(Industrials)

998,665

96,303

Snam

SpA

(Utilities)

454,673

2,306

Stevanato

Group

SpA

(Health

Care)

46,858

506,558

Telecom

Italia

SpA

(Communication

Services)*

(b)

133,081

283,494

Telecom

Italia

SpA

-RSP

(Communication

Services)*

81,187

65,989

Terna

-

Rete

Elettrica

Nazionale

(Utilities)

553,186

77,997

UniCredit

SpA

(Financials)

3,080,849

21,375,126

Japan

–

24.4%

4,302

ABC-Mart,

Inc.

(Consumer

Discretionary)

82,730

17,849

Acom

Co.

Ltd.

(Financials)

45,694

34,482

Advantest

Corp.

(Information

Technology)

1,165,821

36,815

Aeon

Co.

Ltd.

(Consumer

Staples)

793,486

4,254

Aeon

Mall

Co.

Ltd.

(Real

Estate)

51,204

9,577

AGC,

Inc.

(Industrials)

334,398

9,508

Air

Water,

Inc.

(Materials)

139,070

6,847

Aisin

Corp.

(Consumer

Discretionary)

254,412

24,611

Ajinomoto

Co.,

Inc.

(Consumer

Staples)

877,818

8,820

Alfresa

Holdings

Corp.

(Health

Care)

124,236

15,872

Amada

Co.

Ltd.

(Industrials)

178,875

21,000

ANA

Holdings,

Inc.

(Industrials)

399,835

22,384

Asahi

Group

Holdings

Ltd.

(Consumer

Staples)

817,758

10,037

Asahi

Intecc

Co.

Ltd.

(Health

Care)

144,476

63,843

Asahi

Kasei

Corp.

(Materials)

416,425

7,939

Asics

Corp.

(Consumer

Discretionary)

439,526

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

83,987

Astellas

Pharma,

Inc.

(Health

Care)

$

827,604

6,141

Azbil

Corp.

(Information

Technology)

169,445

27,252

Bandai

Namco

Holdings,

Inc.

(Consumer

Discretionary)

496,326

6,079

BayCurrent

Consulting,

Inc.

(Industrials)

123,944

25,782

Bridgestone

Corp.

(Consumer

Discretionary)

1,122,205

11,819

Brother

Industries

Ltd.

(Information

Technology)

226,911

3,657

Calbee

,

Inc.

(Consumer

Staples)

71,955

47,656

Canon,

Inc.

(Information

Technology)

1,380,446

15,730

Capcom

Co.

Ltd.

(Communication

Services)

290,286

3,394

Cellebrite

DI

Ltd.

(Information

Technology)*

36,146

43,793

Central

Japan

Railway

Co.

(Industrials)

978,442

34,374

Chiba

Bank

Ltd.

(The)

(Financials)

326,689

34,042

Chubu

Electric

Power

Co.,

Inc.

(Utilities)

469,324

30,073

Chugai

Pharmaceutical

Co.

Ltd.

(Health

Care)

914,945

6,599

Coca-Cola

Bottlers

Japan

Holdings,

Inc.

(Consumer

Staples)

76,952

52,723

Concordia

Financial

Group

Ltd.

(Financials)

316,885

889

Cosmos

Pharmaceutical

Corp.

(Consumer

Staples)

71,790

19,428

CyberAgent

,

Inc.

(Communication

Services)

116,893

11,172

Dai

Nippon

Printing

Co.

Ltd.

(Industrials)

347,221

16,080

Daifuku

Co.

Ltd.

(Industrials)

280,731

45,375

Dai-ichi

Life

Holdings,

Inc.

(Financials)

1,214,755

91,222

Daiichi

Sankyo

Co.

Ltd.

(Health

Care)

3,238,005

12,791

Daikin

Industries

Ltd.

(Industrials)

1,867,635

2,823

Daito

Trust

Construction

Co.

Ltd.

(Real

Estate)

298,207

29,146

Daiwa

House

Industry

Co.

Ltd.

(Real

Estate)

774,346

110

Daiwa

House

REIT

Investment

Corp.

REIT

(Real

Estate)

174,158

67,273

Daiwa

Securities

Group,

Inc.

(Financials)

528,269

84,773

Denso

Corp.

(Consumer

Discretionary)

1,371,840

9,357

Dentsu

Group,

Inc.

(Communication

Services)

247,583

4,280

Disco

Corp.

(Information

Technology)

1,674,741

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

51,412

East

Japan

Railway

Co.

(Industrials)

$

892,991

4,345

Ebara

Corp.

(Industrials)

316,865

13,295

Eisai

Co.

Ltd.

(Health

Care)

571,327

7,905

Electric

Power

Development

Co.

Ltd.

(Utilities)

132,777

130,803

ENEOS

Holdings,

Inc.

(Energy)

674,554

44,731

FANUC

Corp.

(Industrials)

1,252,166

7,950

Fast

Retailing

Co.

Ltd.

(Consumer

Discretionary)

2,034,233

6,401

Fuji

Electric

Co.

Ltd.

(Industrials)

380,691

43,132

FUJIFILM

Holdings

Corp.

(Information

Technology)

982,338

90,433

Fujitsu

Ltd.

(Information

Technology)

1,305,465

8,604

Fukuoka

Financial

Group,

Inc.

(Financials)

250,709

234

GLP

J

REIT

(Real

Estate)

194,324

2,070

GMO

Payment

Gateway,

Inc.

(Financials)

89,297

10,288

Hakuhodo

DY

Holdings,

Inc.

(Communication

Services)

85,043

6,565

Hamamatsu

Photonics

KK

(Information

Technology)

193,134

11,102

Hankyu

Hanshin

Holdings,

Inc.

(Industrials)

291,282

11,970

Haseko

Corp.

(Consumer

Discretionary)

135,052

895

Hikari

Tsushin,

Inc.

(Industrials)

146,599

1,384

Hirose

Electric

Co.

Ltd.

(Information

Technology)

154,125

4,855

Hitachi

Construction

Machinery

Co.

Ltd.

(Industrials)

131,304

43,593

Hitachi

Ltd.

(Industrials)

4,478,723

230,960

Honda

Motor

Co.

Ltd.

(Consumer

Discretionary)

2,600,679

5,092

Hoshizaki

Corp.

(Industrials)

182,430

16,484

Hoya

Corp.

(Health

Care)

1,999,332

23,859

Hulic

Co.

Ltd.

(Real

Estate)

220,454

5,853

Ibiden

Co.

Ltd.

(Information

Technology)

235,878

55,697

Idemitsu

Kosan

Co.

Ltd.

(Energy)

380,304

6,889

IHI

Corp.

(Industrials)

177,458

7,520

Iida

Group

Holdings

Co.

Ltd.

(Consumer

Discretionary)

102,503

40,330

Inpex

Corp.

(Energy)

621,972

15,934

Isetan

Mitsukoshi

Holdings

Ltd.

(Consumer

Discretionary)

330,655

28,384

Isuzu

Motors

Ltd.

(Consumer

Discretionary)

378,766

2,605

Ito

En

Ltd.

(Consumer

Staples)

62,180

59,134

ITOCHU

Corp.

(Industrials)

2,788,399

11,724

J

Front

Retailing

Co.

Ltd.

(Consumer

Discretionary)

113,700

20,203

Japan

Airlines

Co.

Ltd.

(Industrials)

340,370

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

24,849

Japan

Exchange

Group,

Inc.

(Financials)

$

582,859

322

Japan

Metropolitan

Fund

Invest

REIT

(Real

Estate)

189,538

18,122

Japan

Post

Bank

Co.

Ltd.

(Financials)

179,092

99,334

Japan

Post

Holdings

Co.

Ltd.

(Financials)

957,657

8,585

Japan

Post

Insurance

Co.

Ltd.

(Financials)

165,040

52,734

Japan

Tobacco,

Inc.

(Consumer

Staples)

1,493,982

24,918

JFE

Holdings,

Inc.

(Materials)

377,072

10,583

JGC

Holdings

Corp.

(Industrials)

83,980

9,470

JSR

Corp.

(Materials)*

261,239

10,529

JTEKT

Corp.

(Consumer

Discretionary)

76,248

20,804

Kajima

Corp.

(Industrials)

351,952

34,475

Kansai

Electric

Power

Co.,

Inc.

(The)

(Utilities)

622,391

9,180

Kansai

Paint

Co.

Ltd.

(Materials)

153,054

21,248

Kao

Corp.

(Consumer

Staples)

931,345

7,356

Kawasaki

Heavy

Industries

Ltd.

(Industrials)

279,457

17,824

Kawasaki

Kisen

Kaisha

Ltd.

(Industrials)

264,448

73,350

KDDI

Corp.

(Communication

Services)

2,024,366

5,041

Keihan

Holdings

Co.

Ltd.

(Industrials)

93,477

5,160

Keio

Corp.

(Industrials)

124,251

7,422

Keisei

Electric

Railway

Co.

Ltd.

(Industrials)

266,568

4,844

Kewpie

Corp.

(Consumer

Staples)

95,958

8,753

Keyence

Corp.

(Information

Technology)

3,937,444

36,165

Kikkoman

Corp.

(Consumer

Staples)

418,621

8,888

Kintetsu

Group

Holdings

Co.

Ltd.

(Industrials)

188,851

38,357

Kirin

Holdings

Co.

Ltd.

(Consumer

Staples)

530,889

2,387

Kobayashi

Pharmaceutical

Co.

Ltd.

(Consumer

Staples)

82,465

6,651

Kobe

Bussan

Co.

Ltd.

(Consumer

Staples)

147,330

5,308

Koei

Tecmo

Holdings

Co.

Ltd.

(Communication

Services)

46,208

11,262

Koito

Manufacturing

Co.

Ltd.

(Consumer

Discretionary)

158,992

3,348

Kokusai

Electric

Corp.

(Information

Technology)

(b)

91,612

42,657

Komatsu

Ltd.

(Industrials)

1,247,855

4,506

Konami

Group

Corp.

(Communication

Services)

314,412

1,573

Kose

Corp.

(Consumer

Staples)

103,902

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

49,997

Kubota

Corp.

(Industrials)

$

706,630

15,256

Kuraray

Co.

Ltd.

(Materials)

185,476

5,283

Kurita

Water

Industries

Ltd.

(Industrials)

225,917

62,607

Kyocera

Corp.

(Information

Technology)

711,547

11,702

Kyowa

Kirin

Co.

Ltd.

(Health

Care)

197,745

21,714

Kyushu

Electric

Power

Co.,

Inc.

(Utilities)

253,073

6,605

Kyushu

Railway

Co.

(Industrials)

145,344

3,688

Lasertec

Corp.

(Information

Technology)

950,251

11,990

Lion

Corp.

(Consumer

Staples)

96,289

13,086

Lixil

Corp.

(Industrials)

143,647

122,931

LY

Corp.

(Communication

Services)

291,711

19,229

M3,

Inc.

(Health

Care)

186,484

11,464

Makita

Corp.

(Industrials)

337,985

79,775

Marubeni

Corp.

(Industrials)

1,553,416

8,362

Marui

Group

Co.

Ltd.

(Financials)

124,277

16,707

MatsukiyoCocokara

&

Co.

(Consumer

Staples)

235,808

27,059

Mazda

Motor

Corp.

(Consumer

Discretionary)

285,407

4,007

McDonald's

Holdings

Co.

Japan

Ltd.

(Consumer

Discretionary)

164,212

49,742

Mebuki

Financial

Group,

Inc.

(Financials)

199,354

8,635

Medipal

Holdings

Corp.

(Health

Care)

127,043

12,455

MEIJI

Holdings

Co.

Ltd.

(Consumer

Staples)

278,750

18,219

MINEBEA

MITSUMI,

Inc.

(Industrials)

381,203

13,381

MISUMI

Group,

Inc.

(Industrials)

229,651

66,991

Mitsubishi

Chemical

Group

Corp.

(Materials)

354,128

175,322

Mitsubishi

Corp.

(Industrials)

3,685,059

93,258

Mitsubishi

Electric

Corp.

(Industrials)

1,620,124

53,294

Mitsubishi

Estate

Co.

Ltd.

(Real

Estate)

895,157

8,520

Mitsubishi

Gas

Chemical

Co.,

Inc.

(Materials)

159,779

39,146

Mitsubishi

HC

Capital,

Inc.

(Financials)

259,196

153,832

Mitsubishi

Heavy

Industries

Ltd.

(Industrials)

1,339,159

30,492

Mitsubishi

Motors

Corp.

(Consumer

Discretionary)

84,814

544,143

Mitsubishi

UFJ

Financial

Group,

Inc.

(Financials)

5,741,125

69,184

Mitsui

&

Co.

Ltd.

(Industrials)

3,508,839

8,361

Mitsui

Chemicals,

Inc.

(Materials)

252,780

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

129,741

Mitsui

Fudosan

Co.

Ltd.

(Real

Estate)

$

1,189,296

16,991

Mitsui

OSK

Lines

Ltd.

(Industrials)

560,510

120,073

Mizuho

Financial

Group,

Inc.

(Financials)

2,455,787

11,599

MonotaRO

Co.

Ltd.

(Industrials)

122,378

59,972

MS&AD

Insurance

Group

Holdings,

Inc.

(Financials)

1,252,144

87,987

Murata

Manufacturing

Co.

Ltd.

(Information

Technology)

1,660,972

9,245

Nagoya

Railroad

Co.

Ltd.

(Industrials)

105,925

11,943

NEC

Corp.

(Information

Technology)

883,499

20,958

Nexon

Co.

Ltd.

(Communication

Services)

358,958

13,589

NGK

Insulators

Ltd.

(Industrials)

181,207

4,559

NH

Foods

Ltd.

(Consumer

Staples)

139,748

5,965

Nichirei

Corp.

(Consumer

Staples)

134,943

22,544

NIDEC

Corp.

(Industrials)

1,125,156

15,300

Nikon

Corp.

(Consumer

Discretionary)

158,701

54,732

Nintendo

Co.

Ltd.

(Communication

Services)

2,979,619

78

Nippon

Building

Fund,

Inc.

REIT

(Real

Estate)

291,361

3,880

NIPPON

EXPRESS

HOLDINGS,

Inc.

(Industrials)

191,278

41,809

Nippon

Paint

Holdings

Co.

Ltd.

(Materials)

281,219

112

Nippon

Prologis

REIT,

Inc.

REIT

(Real

Estate)

184,736

8,780

Nippon

Sanso

Holdings

Corp.

(Materials)

258,967

40,143

Nippon

Steel

Corp.

(Materials)

876,711

2,550,925

Nippon

Telegraph

&

Telephone

Corp.

(Communication

Services)

2,504,742

7,614

Nippon

Television

Holdings,

Inc.

(Communication

Services)

102,743

22,150

Nippon

Yusen

KK

(Industrials)

702,649

6,136

Nissan

Chemical

Corp.

(Materials)

170,205

114,252

Nissan

Motor

Co.

Ltd.

(Consumer

Discretionary)

405,984

12,016

Nisshin

Seifun

Group,

Inc.

(Consumer

Staples)

134,730

8,571

Nissin

Foods

Holdings

Co.

Ltd.

(Consumer

Staples)

215,877

9,037

Niterra

Co.

Ltd.

(Consumer

Discretionary)

271,780

3,847

Nitori

Holdings

Co.

Ltd.

(Consumer

Discretionary)

425,228

6,959

Nitto

Denko

Corp.

(Materials)

531,186

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

141,742

Nomura

Holdings,

Inc.

(Financials)

$

857,334

4,851

Nomura

Real

Estate

Holdings,

Inc.

(Real

Estate)

124,682

193

Nomura

Real

Estate

Master

Fund,

Inc.

REIT

(Real

Estate)

181,400

18,260

Nomura

Research

Institute

Ltd.

(Information

Technology)

488,498

22,823

NSK

Ltd.

(Industrials)

111,817

29,184

NTT

Data

Group

Corp.

(Information

Technology)

447,292

32,500

Obayashi

Corp.

(Industrials)

378,369

1,346

OBIC

Business

Consultants

Co.

Ltd.

(Information

Technology)

53,953

3,065

Obic

Co.

Ltd.

(Information

Technology)

397,205

14,927

Odakyu

Electric

Railway

Co.

Ltd.

(Industrials)

156,399

43,653

Oji

Holdings

Corp.

(Materials)

176,118

58,961

Olympus

Corp.

(Health

Care)

928,060

8,808

Omron

Corp.

(Information

Technology)

287,986

20,680

Ono

Pharmaceutical

Co.

Ltd.

(Health

Care)

299,386

3,524

Open

House

Group

Co.

Ltd.

(Consumer

Discretionary)

101,586

1,565

Oracle

Corp.

Japan

(Information

Technology)

110,843

52,393

Oriental

Land

Co.

Ltd.

(Consumer

Discretionary)

1,462,650

54,044

ORIX

Corp.

(Financials)

1,175,834

132

Orix

JREIT,

Inc.

REIT

(Real

Estate)

133,894

19,305

Osaka

Gas

Co.

Ltd.

(Utilities)

438,814

10,328

Otsuka

Corp.

(Information

Technology)

195,919

20,821

Otsuka

Holdings

Co.

Ltd.

(Health

Care)

857,776

17,963

Pan

Pacific

International

Holdings

Corp.

(Consumer

Discretionary)

461,463

104,454

Panasonic

Holdings

Corp.

(Consumer

Discretionary)

919,610

86,558

Persol

Holdings

Co.

Ltd.

(Industrials)

124,540

66,757

Rakuten

Group,

Inc.

(Consumer

Discretionary)*

346,646

68,508

Recruit

Holdings

Co.

Ltd.

(Industrials)

3,464,963

61,295

Renesas

Electronics

Corp.

(Information

Technology)

1,145,198

111,605

Resona

Holdings,

Inc.

(Financials)

769,861

8,317

Resonac

Holdings

Corp.

(Materials)

183,758

26,610

Ricoh

Co.

Ltd.

(Information

Technology)

237,660

5,121

Rinnai

Corp.

(Consumer

Discretionary)

122,823

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

16,520

Rohm

Co.

Ltd.

(Information

Technology)

$

213,195

9,254

Rohto

Pharmaceutical

Co.

Ltd.

(Consumer

Staples)

162,591

12,101

Ryohin

Keikaku

Co.

Ltd.

(Consumer

Discretionary)

198,866

17,135

Santen

Pharmaceutical

Co.

Ltd.

(Health

Care)

177,516

11,354

SBI

Holdings,

Inc.

(Financials)

293,487

4,386

SCREEN

Holdings

Co.

Ltd.

(Information

Technology)

418,797

6,742

SCSK

Corp.

(Information

Technology)

127,722

9,774

Secom

Co.

Ltd.

(Industrials)

607,792

7,272

Sega

Sammy

Holdings,

Inc.

(Consumer

Discretionary)

102,339

10,491

Seibu

Holdings,

Inc.

(Industrials)

156,051

12,933

Seiko

Epson

Corp.

(Information

Technology)

207,972

17,729

Sekisui

Chemical

Co.

Ltd.

(Consumer

Discretionary)

254,182

28,081

Sekisui

House

Ltd.

(Consumer

Discretionary)

631,150

108,879

Seven

&

i

Holdings

Co.

Ltd.

(Consumer

Staples)

1,405,114

21,280

SG

Holdings

Co.

Ltd.

(Industrials)

215,041

13,030

Sharp

Corp.

(Consumer

Discretionary)*

80,446

12,880

Shimadzu

Corp.

(Information

Technology)

333,424

2,226

Shimamura

Co.

Ltd.

(Consumer

Discretionary)

106,664

3,691

Shimano,

Inc.

(Consumer

Discretionary)

603,403

25,497

Shimizu

Corp.

(Industrials)

141,110

93,278

Shin-Etsu

Chemical

Co.

Ltd.

(Materials)

3,475,406

3,015

Shinko

Electric

Industries

Co.

Ltd.

(Information

Technology)

107,346

13,795

Shionogi

&

Co.

Ltd.

(Health

Care)

618,008

18,411

Shiseido

Co.

Ltd.

(Consumer

Staples)

582,399

25,791

Shizuoka

Financial

Group,

Inc.

(Financials)

266,288

2,657

SMC

Corp.

(Industrials)

1,332,516

133,086

SoftBank

Corp.

(Communication

Services)

1,598,523

46,373

SoftBank

Group

Corp.

(Communication

Services)

2,668,266

16,647

Sohgo

Security

Services

Co.

Ltd.

(Industrials)

100,256

10,509

Sojitz

Corp.

(Industrials)

274,453

43,206

Sompo

Holdings,

Inc.

(Financials)

914,187

58,651

Sony

Group

Corp.

(Consumer

Discretionary)

4,812,782

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

4,140

Square

Enix

Holdings

Co.

Ltd.

(Communication

Services)

$

124,059

7,009

Stanley

Electric

Co.

Ltd.

(Consumer

Discretionary)

128,699

28,854

Subaru

Corp.

(Consumer

Discretionary)

642,649

4,808

Sugi

Holdings

Co.

Ltd.

(Consumer

Staples)

74,562

16,011

SUMCO

Corp.

(Information

Technology)

240,249

67,311

Sumitomo

Chemical

Co.

Ltd.

(Materials)

138,053

56,066

Sumitomo

Corp.

(Industrials)

1,456,014

34,294

Sumitomo

Electric

Industries

Ltd.

(Consumer

Discretionary)

555,290

7,810

Sumitomo

Forestry

Co.

Ltd.

(Consumer

Discretionary)

269,669

5,391

Sumitomo

Heavy

Industries

Ltd.

(Industrials)

146,143

12,056

Sumitomo

Metal

Mining

Co.

Ltd.

(Materials)

392,417

62,181

Sumitomo

Mitsui

Financial

Group,

Inc.

(Financials)

4,071,669

31,286

Sumitomo

Mitsui

Trust

Holdings,

Inc.

(Financials)

725,285

19,994

Sumitomo

Realty

&

Development

Co.

Ltd.

(Real

Estate)

623,822

8,233

Sumitomo

Rubber

Industries

Ltd.

(Consumer

Discretionary)

92,785

3,182

Sundrug

Co.

Ltd.

(Consumer

Staples)

80,914

5,880

Suntory

Beverage

&

Food

Ltd.

(Consumer

Staples)

215,189

74,671

Suzuki

Motor

Corp.

(Consumer

Discretionary)

885,484

22,385

Sysmex

Corp.

(Health

Care)

381,690

25,391

T&D

Holdings,

Inc.

(Financials)

456,535

7,842

Taisei

Corp.

(Industrials)

297,771

5,770

Taiyo

Yuden

Co.

Ltd.

(Information

Technology)

121,425

72,630

Takeda

Pharmaceutical

Co.

Ltd.

(Health

Care)

1,928,696

6,329

TBS

Holdings,

Inc.

(Communication

Services)

147,930

17,840

TDK

Corp.

(Information

Technology)

891,290

67,555

Terumo

Corp.

(Health

Care)

1,147,805

5,768

THK

Co.

Ltd.

(Industrials)

111,510

11,081

TIS,

Inc.

(Information

Technology)

202,341

9,817

Tobu

Railway

Co.

Ltd.

(Industrials)

173,294

2,185

Toei

Animation

Co.

Ltd.

(Communication

Services)

33,148

5,072

Toho

Co.

Ltd.

(Communication

Services)

160,185

21,697

Tohoku

Electric

Power

Co.,

Inc.

(Utilities)

219,600

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

90,552

Tokio

Marine

Holdings,

Inc.

(Financials)

$

3,128,364

7,748

Tokyo

Century

Corp.

(Financials)

71,517

70,086

Tokyo

Electric

Power

Co.

Holdings,

Inc.

(Utilities)*

419,058

21,562

Tokyo

Electron

Ltd.

(Information

Technology)

4,614,401

19,423

Tokyo

Gas

Co.

Ltd.

(Utilities)

435,687

25,901

Tokyu

Corp.

(Industrials)

302,449

27,941

Tokyu

Fudosan

Holdings

Corp.

(Real

Estate)

193,095

12,225

TOPPAN

Holdings,

Inc.

(Industrials)

316,623

71,117

Toray

Industries,

Inc.

(Materials)

355,619

14,090

Tosoh

Corp.

(Materials)

178,697

7,181

TOTO

Ltd.

(Industrials)

179,177

4,289

Toyo

Suisan

Kaisha

Ltd.

(Consumer

Staples)

308,687

3,418

Toyota

Boshoku

Corp.

(Consumer

Discretionary)

49,809

7,813

Toyota

Industries

Corp.

(Industrials)

735,833

541,855

Toyota

Motor

Corp.

(Consumer

Discretionary)

11,727,060

10,955

Toyota

Tsusho

Corp.

(Industrials)

664,989

6,226

Trend

Micro,

Inc.

(Information

Technology)

280,427

1,766

Tsuruha

Holdings,

Inc.

(Consumer

Staples)

104,536

19,422

Unicharm

Corp.

(Consumer

Staples)

624,268

145

United

Urban

Investment

Corp.

REIT

(Real

Estate)

129,088

18,620

USS

Co.

Ltd.

(Consumer

Discretionary)

145,090

4,314

Welcia

Holdings

Co.

Ltd.

(Consumer

Staples)

59,476

22,343

West

Japan

Railway

Co.

(Industrials)

446,163

12,487

Yakult

Honsha

Co.

Ltd.

(Consumer

Staples)

227,340

30,515

Yamada

Holdings

Co.

Ltd.

(Consumer

Discretionary)

85,519

7,617

Yamaha

Corp.

(Consumer

Discretionary)

172,994

43,138

Yamaha

Motor

Co.

Ltd.

(Consumer

Discretionary)

420,688

14,491

Yamato

Holdings

Co.

Ltd.

(Industrials)

166,170

6,232

Yamazaki

Baking

Co.

Ltd.

(Consumer

Staples)

137,096

12,301

Yaskawa

Electric

Corp.

(Industrials)

468,651

11,255

Yokogawa

Electric

Corp.

(Information

Technology)

289,065

Shares

Description

Value

a

Common

Stocks

–

(continued)

Japan

–

(continued)

6,175

Yokohama

Rubber

Co.

Ltd.

(The)

(Consumer

Discretionary)

$

154,822

4,422

Zensho

Holdings

Co.

Ltd.

(Consumer

Discretionary)

173,368

5,508

ZOZO,

Inc.

(Consumer

Discretionary)

128,915

200,501,238

Jordan

–

0.0%

7,413

Hikma

Pharmaceuticals

PLC

(Health

Care)

182,158

Luxembourg

–

0.1%

21,556

ArcelorMittal

(Materials)

565,373

6,099

Eurofins

Scientific

SE

(Health

Care)

366,543

931,916

Macau

–

0.1%

87,432

Galaxy

Entertainment

Group

Ltd.

(Consumer

Discretionary)

419,092

114,043

Sands

China

Ltd.

(Consumer

Discretionary)*

271,720

690,812

Mexico

–

0.0%

8,667

Fresnillo

PLC

(Materials)

68,361

Netherlands

–

4.2%

1,429

Adyen

NV

(Financials)*

(a)

1,838,008

8,021

Akzo

Nobel

NV

(Materials)

558,506

2,784

Argenx

SE

ADR

(Health

Care)*

1,032,920

2,188

ASM

International

NV

(Information

Technology)

1,520,663

18,780

ASML

Holding

NV

(Information

Technology)

17,753,506

4,681

EXOR

NV

(Financials)

522,906

5,219

Heineken

Holding

NV

(Consumer

Staples)

425,498

13,677

Heineken

NV

(Consumer

Staples)

1,364,212

157,917

ING

Groep

NV

(Financials)

2,805,359

45,146

Koninklijke

Ahold

Delhaize

NV

(Consumer

Staples)

1,398,760

155,638

Koninklijke

KPN

NV

(Communication

Services)

581,901

38,370

Koninklijke

Philips

NV

(Health

Care)*

1,036,364

36,151

Universal

Music

Group

NV

(Communication

Services)

1,121,638

11,808

Wolters

Kluwer

NV

(Industrials)

1,872,182

33,832,423

New

Zealand

–

0.3%

31,770

a2

Milk

Co.

Ltd.

(The)

(Consumer

Staples)*

150,105

56,733

Auckland

International

Airport

Ltd.

(Industrials)

271,883

36,463

Contact

Energy

Ltd.

(Utilities)

206,554

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

New

Zealand

–

(continued)

25,798

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

(Health

Care)

$

467,584

37,940

Infratil

Ltd.

(Industrials)

247,090

3,887

Mainfreight

Ltd.

(Industrials)

164,903

30,661

Mercury

NZ

Ltd.

(Utilities)

125,839

59,484

Meridian

Energy

Ltd.

(Utilities)

247,058

85,903

Spark

New

Zealand

Ltd.

(Communication

Services)

220,351

5,974

Xero

Ltd.

(Information

Technology)*

536,356

2,637,723

Norway

–

0.8%

1,033

Aker

ASA,

Class

A

(Industrials)

61,479

14,429

Aker

BP

ASA

(Energy)

369,465

34,665

AutoStore

Holdings

Ltd.

(Industrials)*

(a)

48,854

41,784

DNB

Bank

ASA

(Financials)

816,458

41,179

Equinor

ASA

(Energy)

1,187,545

6,717

Frontline

PLC

(Energy)

192,398

8,518

Gjensidige

Forsikring

ASA

(Financials)

149,002

3,938

Kongsberg

Gruppen

ASA

(Industrials)

338,056

12,624

Leroy

Seafood

Group

ASA

(Consumer

Staples)

55,321

20,823

Mowi

ASA

(Consumer

Staples)

372,379

61,455

Norsk

Hydro

ASA

(Materials)

415,023

37,386

Orkla

ASA

(Consumer

Staples)

297,442

3,043

Salmar

ASA

(Consumer

Staples)

185,016

3,230

Schibsted

ASA,

Class

A

(Communication

Services)

93,502

4,491

Schibsted

ASA,

Class

B

(Communication

Services)

121,282

3,393

Seadrill

Ltd.

(Energy)*

170,756

7,994

SpareBank

1

SR-Bank

ASA

(Financials)

103,222

20,432

Storebrand

ASA

(Financials)

220,633

30,274

Telenor

ASA

(Communication

Services)

352,856

10,967

TOMRA

Systems

ASA

(Industrials)

143,908

26,378

Var

Energi

ASA

(Energy)

93,314

4,774

Wallenius

Wilhelmsen

ASA

(Industrials)

50,779

5,838,690

Poland

–

0.4%

22,231

Allegro.eu

SA

(Consumer

Discretionary)*

(a)

213,303

8,300

Bank

Pekao

SA

(Financials)

337,313

594

Budimex

SA

(Industrials)

112,780

3,255

CD

Projekt

SA

(Communication

Services)

(b)

107,728

2,255

Dino

Polska

SA

(Consumer

Staples)*

(a)

224,584

8,158

InPost

SA

(Industrials)*

146,218

6,413

KGHM

Polska

Miedz

SA

(Materials)

247,105

Shares

Description

Value

a

Common

Stocks

–

(continued)

Poland

–

(continued)

52

LPP

SA

(Consumer

Discretionary)

$

229,027

608

mBank

SA

(Financials)*

96,675

27,358

ORLEN

SA

(Energy)

441,744

41,319

PGE

Polska

Grupa

Energetyczna

SA

(Utilities)*

71,093

40,337

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

(Financials)

608,180

26,726

Powszechny

Zaklad

Ubezpieczen

SA

(Financials)

339,421

1,566

Santander

Bank

Polska

SA

(Financials)

200,633

3,375,804

Portugal

–

0.2%

344,455

Banco

Comercial

Portugues

SA,

Class

R

(Financials)*

138,994

131,900

EDP

–

Energias

de

Portugal

SA

(Utilities)

534,244

22,494

Galp

Energia

SGPS

SA

(Energy)

471,663

12,928

Jeronimo

Martins

SGPS

SA

(Consumer

Staples)

288,833

10,037

Navigator

Co.

SA

(The)

(Materials)*

43,737

1,477,471

Russia

–

–%

12,172

Evraz

PLC

(Materials)*

(c)

—

Singapore

–

1.6%

166,945

CapitaLand

Ascendas

REIT

REIT

(Real

Estate)

322,354

213,673

CapitaLand

Integrated

Commercial

Trust

REIT

(Real

Estate)

309,831

112,888

CapitaLand

Investment

Ltd.

(Real

Estate)

222,151

20,746

City

Developments

Ltd.

(Real

Estate)

86,103

95,665

DBS

Group

Holdings

Ltd.

(Financials)

2,547,151

131,336

Frasers

Logistics

&

Commercial

Trust

REIT

(Real

Estate)

96,192

266,654

Genting

Singapore

Ltd.

(Consumer

Discretionary)

179,518

115,071

Grab

Holdings

Ltd.,

Class

A

(Industrials)*

422,311

10,714

Hafnia

Ltd.

(Energy)

93,810

4,450

Jardine

Cycle

&

Carriage

Ltd.

(Industrials)

84,740

65,217

Keppel

Ltd.

(Industrials)

324,227

96,628

Mapletree

Industrial

Trust

REIT

(Real

Estate)

157,270

154,845

Mapletree

Logistics

Trust

REIT

(Real

Estate)

152,359

107,942

Mapletree

Pan

Asia

Commercial

Trust

REIT

(Real

Estate)

97,425

42,081

Olam

Group

Ltd.

(Consumer

Staples)

35,490

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Singapore

–

(continued)

152,836

Oversea-Chinese

Banking

Corp.

Ltd.

(Financials)

$

1,640,638

40,860

SATS

Ltd.

(Industrials)*

84,036

17,111

Sea

Ltd.

ADR

(Communication

Services)*

1,155,335

151,780

Seatrium

Ltd.

(Industrials)*

(b)

197,627

42,166

Sembcorp

Industries

Ltd.

(Utilities)

158,782

62,266

Singapore

Airlines

Ltd.

(Industrials)

311,860

38,463

Singapore

Exchange

Ltd.

(Financials)

272,032

71,402

Singapore

Technologies

Engineering

Ltd.

(Industrials)

220,804

335,931

Singapore

Telecommunications

Ltd.

(Communication

Services)

616,342

30,598

STMicroelectronics

NV

(Information

Technology)

1,257,437

63,605

United

Overseas

Bank

Ltd.

(Financials)

1,448,841

24,695

UOL

Group

Ltd.

(Real

Estate)

98,473

12,712

Venture

Corp.

Ltd.

(Information

Technology)

131,850

12,724,989

South

Africa

–

0.2%

54,953

Anglo

American

PLC

(Materials)

1,758,601

South

Korea

–

0.0%

9,396

Delivery

Hero

SE

(Consumer

Discretionary)*

(a)

284,690

Spain

–

2.5%

9,594

ACS

Actividades

de

Construccion

y

Servicios

SA

(Industrials)

428,275

3,450

Aena

SME

SA

(Industrials)

(a)

672,660

21,385

Amadeus

IT

Group

SA

(Consumer

Discretionary)

1,516,905

277,638

Banco

Bilbao

Vizcaya

Argentaria

SA

(Financials)

2,995,956

752,618

Banco

Santander

SA

(Financials)

3,949,993

177,548

CaixaBank

SA

(Financials)

1,015,773

26,777

Cellnex

Telecom

SA

(Communication

Services)*

(a)

974,688

13,865

EDP

Renovaveis

SA

(Utilities)

221,563

14,865

Endesa

SA

(Utilities)

295,315

275,103

Iberdrola

SA

(Utilities)

3,613,689

52,585

Industria

de

Diseno

Textil

SA

(Consumer

Discretionary)

2,486,680

5,867

Naturgy

Energy

Group

SA

(Utilities)

157,192

18,984

Redeia

Corp.

SA

(Utilities)

340,874

60,047

Repsol

SA

(Energy)

979,110

242,935

Telefonica

SA

(Communication

Services)

1,130,085

20,778,758

Shares

Description

Value

a

Common

Stocks

–

(continued)

Sweden

–

3.4%

8,253

AAK

AB

(Consumer

Staples)

$

231,020

11,231

AddTech

AB,

Class

B

(Industrials)

264,832

13,266

Alfa

Laval

AB

(Industrials)

612,013

46,207

Assa

Abloy

AB,

Class

B

(Industrials)

1,349,674

120,477

Atlas

Copco

AB,

Class

A

(Industrials)

2,300,211

70,727

Atlas

Copco

AB,

Class

B

(Industrials)

1,165,087

5,568

Avanza

Bank

Holding

AB

(Financials)

(b)

145,061

5,098

Axfood

AB

(Consumer

Staples)

135,094

17,561

Beijer

Ref

AB

(Industrials)

284,106

12,640

Boliden

AB

(Materials)

440,835

19,114

Castellum

AB

(Real

Estate)*

237,262

16,292

Elekta

AB,

Class

B

(Health

Care)

133,453

38,220

Embracer

Group

AB

(Communication

Services)*

(b)

95,139

29,211

Epiroc

AB,

Class

A

(Industrials)

607,428

17,720

Epiroc

AB,

Class

B

(Industrials)

330,906

24,605

EQT

AB

(Financials)

743,961

28,343

Essity

AB,

Class

B

(Consumer

Staples)

726,281

8,402

Evolution

AB

(Consumer

Discretionary)

(a)

901,139

10,436

Fabege

AB

(Real

Estate)

88,660

30,909

Fastighets

AB

Balder,

Class

B

(Real

Estate)*

207,663

10,229

Getinge

AB,

Class

B

(Health

Care)

181,876

28,802

H

&

M

Hennes

&

Mauritz

AB,

Class

B

(Consumer

Discretionary)

(b)

508,277

90,709

Hexagon

AB,

Class

B

(Information

Technology)

993,580

4,262

Holmen

AB,

Class

B

(Materials)

178,063

18,043

Husqvarna

AB,

Class

B

(Industrials)

148,740

5,594

Industrivarden

AB,

Class

A

(Financials)

198,395

6,076

Industrivarden

AB,

Class

C

(Financials)

212,659

12,559

Indutrade

AB

(Industrials)

322,895

6,329

Investment

AB

Latour

,

Class

B

(Industrials)

175,659

22,550

Investor

AB,

Class

A

(Financials)

605,067

86,326

Investor

AB,

Class

B

(Financials)

2,334,378

11,181

Kinnevik

AB,

Class

B

(Financials)*

129,115

2,118

L

E

Lundbergforetagen

AB,

Class

B

(Financials)

107,338

10,590

Lifco

AB,

Class

B

(Industrials)

279,723

69,365

Nibe

Industrier

AB,

Class

B

(Industrials)

(b)

352,062

14,440

Saab

AB,

Class

B

(Industrials)

347,915

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

Sweden

–

(continued)

10,144

Sagax

AB,

Class

B

(Real

Estate)

$

266,785

49,204

Sandvik

AB

(Industrials)

1,078,379

23,622

Securitas

AB,

Class

B

(Industrials)

(b)

242,123

74,561

Skandinaviska

Enskilda

Banken

AB,

Class

A

(Financials)

1,057,389

15,576

Skanska

AB,

Class

B

(Industrials)

274,356

17,534

SKF

AB,

Class

B

(Industrials)

382,283

10,359

SSAB

AB,

Class

A

(Materials)

60,122

29,814

SSAB

AB,

Class

B

(Materials)

172,355

28,084

Svenska

Cellulosa

AB

SCA,

Class

B

(Materials)

429,517

68,867

Svenska

Handelsbanken

AB,

Class

A

(Financials)

645,898

1,665

Svenska

Handelsbanken

AB,

Class

B

(Financials)

(b)

19,203

8,507

Sweco

AB,

Class

B

(Industrials)

118,903

46,860

Swedbank

AB,

Class

A

(Financials)

971,757

10,931

Swedish

Orphan

Biovitrum

AB

(Health

Care)*

293,511

25,977

Tele2

AB,

Class

B

(Communication

Services)

253,417

136,850

Telefonaktiebolaget

LM

Ericsson,

Class

B

(Information

Technology)

840,316

106,008

Telia

Co.

AB

(Communication

Services)

274,666

4,968

Thule

Group

AB

(Consumer

Discretionary)

(a)

149,269

9,839

Trelleborg

AB,

Class

B

(Industrials)

382,626

8,937

Volvo

AB,

Class

A

(Industrials)

242,009

71,044

Volvo

AB,

Class

B

(Industrials)

1,904,918

30,212

Volvo

Car

AB,

Class

B

(Consumer

Discretionary)*

100,901

28,236,270

Switzerland

–

5.1%

76,944

ABB

Ltd.

(Industrials)

4,213,306

23,396

Alcon,

Inc.

(Health

Care)

2,083,506

25,098

Cie

Financiere

Richemont

SA

(Consumer

Discretionary)

4,007,501

12,505

DSM-

Firmenich

AG

(Materials)

1,434,245

1,554

Geberit

AG

(Industrials)

948,092

438

Givaudan

SA

(Materials)

2,057,092

2,409

Kuehne

+

Nagel

International

AG

(Industrials)

682,258

3,529

Lonza

Group

AG

(Health

Care)

1,902,683

90,458

Novartis

AG

(Health

Care)

9,342,096

1,025

Partners

Group

Holding

AG

(Financials)

1,370,227

939

Schindler

Holding

AG

(Industrials)

237,313

1,903

Schindler

Holding

AG

Participation

Certificates

(Industrials)

492,757

6,975

SGS

SA

(Industrials)

649,449

7,204

Sika

AG

(Materials)

2,179,207

Shares

Description

Value

a

Common

Stocks

–

(continued)

Switzerland

–

(continued)

5,005

Straumann

Holding

AG

(Health

Care)

$

649,099

1,317

Swatch

Group

AG

(The)

–

Bearer

(Consumer

Discretionary)

281,969

2,472

Swatch

Group

AG

(The)

–

Registered

(Consumer

Discretionary)

103,029

1,186

Swisscom

AG

(Communication

Services)

654,952

156,767

UBS

Group

AG

(Financials)

4,950,720

6,901

Zurich

Insurance

Group

AG

(Financials)

3,623,570

41,863,071

United

Kingdom

–

10.6%

44,880

3i

Group

PLC

(Financials)

1,635,954

11,139

Admiral

Group

PLC

(Financials)

384,905

13,976

Allfunds

Group

PLC

(Financials)

82,993

20,824

Ashtead

Group

PLC

(Industrials)

1,508,067

16,269

Associated

British

Foods

PLC

(Consumer

Staples)

528,200

71,296

AstraZeneca

PLC

(Health

Care)

11,065,367

42,871

Auto

Trader

Group

PLC

(Communication

Services)

(a)

445,510

128,670

Aviva

PLC

(Financials)

786,185

43,820

B&M

European

Value

Retail

SA

(Consumer

Discretionary)

303,841

145,088

BAE

Systems

PLC

(Industrials)

2,571,388

723,493

Barclays

PLC

(Financials)

2,026,534

45,751

Barratt

Developments

PLC

(Consumer

Discretionary)

293,115

4,927

Berkeley

Group

Holdings

PLC

(Consumer

Discretionary)

328,708

97,574

British

American

Tobacco

PLC

(Consumer

Staples)

3,000,186

296,386

BT

Group

PLC

(Communication

Services)

492,831

15,796

Bunzl

PLC

(Industrials)

590,473

17,408

Burberry

Group

PLC

(Consumer

Discretionary)

229,396

262,817

Centrica

PLC

(Utilities)

473,653

124,881

CK

Hutchison

Holdings

Ltd.

(Industrials)

608,175

9,539

Coca-Cola

Europacific

Partners

PLC

(Consumer

Staples)

703,120

82,477

Compass

Group

PLC

(Consumer

Discretionary)

2,301,815

77,564

ConvaTec

Group

PLC

(Health

Care)

(a)

245,504

6,553

Croda

International

PLC

(Materials)

378,785

4,652

DCC

PLC

(Industrials)

337,015

106,883

Diageo

PLC

(Consumer

Staples)

3,579,677

62,745

DS

Smith

PLC

(Materials)

304,369

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

United

Kingdom

–

(continued)

30,016

Entain

PLC

(Consumer

Discretionary)

$

258,037

8,403

Flutter

Entertainment

PLC

(Consumer

Discretionary)*

1,594,107

17,734

Halma

PLC

(Information

Technology)

502,607

16,623

Hargreaves

Lansdown

PLC

(Financials)

223,391

916,951

HSBC

Holdings

PLC

(Financials)

8,130,211

39,106

Imperial

Brands

PLC

(Consumer

Staples)

966,420

65,835

Informa

PLC

(Communication

Services)

710,636

7,534

InterContinental

Hotels

Group

PLC

(Consumer

Discretionary)

757,791

13,589

Intermediate

Capital

Group

PLC

(Financials)

399,665

87,034

International

Consolidated

Airlines

Group

SA

ADR

(Industrials)*

376,875

7,563

Intertek

Group

PLC

(Industrials)

459,892

82,594

J

Sainsbury

PLC

(Consumer

Staples)

291,500

117,450

JD

Sports

Fashion

PLC

(Consumer

Discretionary)

190,660

89,178

Kingfisher

PLC

(Consumer

Discretionary)

299,863

32,269

Land

Securities

Group

PLC

REIT

(Real

Estate)

268,079

279,166

Legal

&

General

Group

PLC

(Financials)

888,586

3,060,172

Lloyds

Banking

Group

PLC

(Financials)

2,163,178

20,032

London

Stock

Exchange

Group

PLC

(Financials)

2,336,746

104,824

M&G

PLC

(Financials)

265,723

62,907

Melrose

Industries

PLC

(Industrials)

493,214

175,178

National

Grid

PLC

(Utilities)

1,968,077

257,620

NatWest

Group

PLC

(Financials)

1,033,206

5,619

Next

PLC

(Consumer

Discretionary)

668,051

27,721

Ocado

Group

PLC

(Consumer

Staples)*

131,860

33,627

Pearson

PLC

(Consumer

Discretionary)

405,876

15,011

Persimmon

PLC

(Consumer

Discretionary)

276,169

35,179

Phoenix

Group

Holdings

PLC

(Financials)

222,248

34,035

Reckitt

Benckiser

Group

PLC

(Consumer

Staples)

1,929,203

89,850

RELX

PLC

(Industrials)

3,907,805

117,871

Rentokil

Initial

PLC

(Industrials)

621,754

Shares

Description

Value

a

Common

Stocks

–

(continued)

United

Kingdom

–

(continued)

38,247

Rightmove

PLC

(Communication

Services)

$

259,648

400,554

Rolls-Royce

Holdings

PLC

(Industrials)*

2,312,275

47,989

Sage

Group

PLC

(The)

(Information

Technology)

624,744

41,372

Schroders

PLC

(Financials)

206,380

60,723

Segro

PLC

REIT

(Real

Estate)

704,472

12,413

Severn

Trent

PLC

(Utilities)

377,089

41,071

Smith

&

Nephew

PLC

(Health

Care)

517,896

16,453

Smiths

Group

PLC

(Industrials)

360,724

3,449

Spirax-Sarco

Engineering

PLC

(Industrials)

391,262

51,267

SSE

PLC

(Utilities)

1,145,545

103,736

Standard

Chartered

PLC

(Financials)

1,026,765

165,944

Taylor

Wimpey

PLC

(Consumer

Discretionary)

310,899

339,548

Tesco

PLC

(Consumer

Staples)

1,344,493

118,626

Unilever

PLC

(Consumer

Staples)

6,462,776

32,062

United

Utilities

Group

PLC

(Utilities)

414,745

1,145,613

Vodafone

Group

PLC

(Communication

Services)

1,102,990

12,204

Weir

Group

PLC

(The)

(Industrials)

330,030

9,126

Whitbread

PLC

(Consumer

Discretionary)

343,116

27,544

Wise

PLC,

Class

A

(Financials)*

285,637

50,462

WPP

PLC

(Communication

Services)

524,780

86,993,462

United

States

–

8.7%

734,098

BP

PLC

(Energy)

4,562,515

22,832

CSL

Ltd.

(Health

Care)

4,253,157

1,991

CyberArk

Software

Ltd.

(Information

Technology)*

456,437

43,737

Experian

PLC

(Industrials)

2,008,594

22,147

Ferrovial

SE

(Industrials)

871,792

194,785

GSK

PLC

(Health

Care)

4,380,928

239,085

Haleon

PLC

(Consumer

Staples)

989,615

24,389

Holcim

AG

(Materials)*

2,129,763

3,828

ICON

PLC

(Health

Care)*

1,243,411

3,380

Inmode

Ltd.

(Health

Care)*

64,659

20,690

James

Hardie

Industries

PLC

CDI

(Materials)*

643,825

1,596

Monday.com

Ltd.

(Information

Technology)*

360,552

126,888

Nestle

SA

(Consumer

Staples)

13,440,578

33,428

Roche

Holding

AG

(Health

Care)

8,559,406

1,338

Roche

Holding

AG

(Health

Care)

374,934

52,620

Sanofi

SA

(Health

Care)

5,127,478

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

a

Common

Stocks

–

(continued)

United

States

–

(continued)

25,620

Schneider

Electric

SE

(Industrials)

$

6,326,087

305,662

Shell

PLC

(Energy)

10,941,490

100,200

Stellantis

NV

(Consumer

Discretionary)

2,197,299

13,744

Swiss

Re

AG

(Financials)

1,747,422

21,669

Tenaris

SA

(Energy)

355,093

71,035,035

TOTAL

COMMON

STOCKS

(Cost

$719,649,060)

808,198,995

Shares

Description

Rate

Value

a

Preferred

Stocks

–

0.3%

Germany

–

0.3%

2,755

Bayerische

Motoren

Werke

AG

(Consumer

Discretionary)

6.82

%

264,389

5,363

Dr.

Ing

hc

F

Porsche

AG

(Consumer

Discretionary)

(a)

1.33

441,896

7,752

Henkel

AG

&

Co.

KGaA

(Consumer

Staples)

2.23

699,503

7,209

Porsche

Automobil

Holding

SE

(Consumer

Discretionary)

5.08

395,374

1,154

Sartorius

AG

(Health

Care)

0.31

302,547

8,613

Volkswagen

AG

(Consumer

Discretionary)

7.88

1,075,282

TOTAL

PREFERRED

STOCKS

(Cost

$3,574,309)

3,178,991

Units

Description

Expiration

Month

Value

aa

Right

–

0.0%

United

Kingdom

–

0.0%

51,093

National

Grid

PLC*

(Cost

$0)

06/24

127,534

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.6%

(d)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

4,771,320

5.180%

4,771,320

(Cost

$4,771,320)

TOTAL

INVESTMENTS

BEFORE

SECURITIES

LENDING

REINVESTMENT

VEHICLE

(Cost

$727,994,689)

816,276,840

Shares

Dividend

Rate

Value

a

Securities

Lending

Reinvestment

Vehicle

–

0.3%

(d)

a

a

a

a

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

2,082,863

5.227%

$

2,082,863

(Cost

$2,082,863)

TOTAL

INVESTMENTS

–

99.7%

(Cost

$730,077,552)

$

818,359,703

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.3%

2,206,973

NET

ASSETS

–

100.0%

$

820,566,676

  a

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

CVA

—

Dutch

Certification

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

SDR

—

Swedish

Depositary

Receipt

Sector

Name

%

of

Market

Value

Financials

19.4

%

Industrials

17.3

Health

Care

12.5

Consumer

Discretionary

11.7

Information

Technology

9.0

Consumer

Staples

8.6

Materials

6.9

Energy

4.3

Communication

Services

4.1

Utilities

3.1

Real

Estate

2.2

Investment

Company

0.6

Securities

Lending

Reinvestment

Vehicle

0.3

TOTAL

INVESTMENTS

100.0%

GOLDMAN

SACHS

MARKETBETA

®

INTERNATIONAL

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

FUTURES

CONTRACTS

—

At

May

31,

2024,

the

Portfolio

had

the

following

futures

contracts:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

position

contracts:

MSCI

EAFE

E-Mini

Index

60

06/21/24

$

7,110,600

$

123,922

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

GROWTH

EQUITY

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

99.8%

Communication

Services

–

10.7%

70,072

Alphabet,

Inc.,

Class

A*

$

12,087,420

59,186

Alphabet,

Inc.,

Class

C*

10,295,996

2,369

Charter

Communications,

Inc.,

Class

A*

680,187

2,698

Iridium

Communications,

Inc.

81,237

435

Liberty

Broadband

Corp.,

Class

C*

23,529

812

Live

Nation

Entertainment,

Inc.*

76,117

5,598

Match

Group,

Inc.*

171,467

43,026

Meta

Platforms,

Inc.,

Class

A

20,085,827

10,043

Netflix,

Inc.*

6,443,790

216

Nexstar

Media

Group,

Inc.

35,789

13,759

Pinterest,

Inc.,

Class

A*

570,861

431

Playtika

Holding

Corp.

3,767

11,049

ROBLOX

Corp.,

Class

A*

371,467

219

Roku,

Inc.*

12,571

3,268

Spotify

Technology

SA*

969,877

1,452

TKO

Group

Holdings,

Inc.

158,370

10,275

Trade

Desk,

Inc.

(The),

Class

A*

953,314

3,456

ZoomInfo

Technologies,

Inc.*

42,440

53,064,026

Consumer

Discretionary

–

14.7%

9,740

Airbnb,

Inc.,

Class

A*

1,411,618

121,563

Amazon.com,

Inc.*

21,448,576

337

AutoZone,

Inc.*

933,470

648

Best

Buy

Co.,

Inc.

54,963

3

Birkenstock

Holding

PLC

(Luxembourg)*

171

821

Booking

Holdings,

Inc.

3,100,383

204

Bright

Horizons

Family

Solutions,

Inc.*

21,444

216

Brunswick

Corp.

17,826

1,519

Burlington

Stores,

Inc.*

364,636

1,731

Caesars

Entertainment,

Inc.*

61,554

216

CarMax,

Inc.*

15,176

841

Cava

Group,

Inc.*

77,835

646

Chipotle

Mexican

Grill,

Inc.*

2,021,670

648

Choice

Hotels

International,

Inc.

73,347

1,632

Churchill

Downs,

Inc.

211,344

25,759

Coupang,

Inc.

(South

Korea)*

585,760

1,396

Crocs,

Inc.*

217,273

1,294

Darden

Restaurants,

Inc.

194,605

601

Deckers

Outdoor

Corp.*

657,446

89

Dick's

Sporting

Goods,

Inc.

20,260

821

Domino's

Pizza,

Inc.

417,544

5,708

DoorDash,

Inc.,

Class

A*

628,508

9,827

DraftKings,

Inc.,

Class

A*

345,222

648

eBay,

Inc.

35,135

1,512

Etsy,

Inc.*

95,967

2,288

Expedia

Group,

Inc.*

258,224

1,249

Five

Below,

Inc.*

172,524

2,446

Floor

&

Decor

Holdings,

Inc.,

Class

A*

285,840

198

Grand

Canyon

Education,

Inc.*

28,207

2,185

H&R

Block,

Inc.

108,463

2,683

Hilton

Worldwide

Holdings,

Inc.

538,210

23,530

Home

Depot,

Inc.

(The)

7,879,491

8,078

Las

Vegas

Sands

Corp.

363,752

9,959

Lowe’s

Cos.,

Inc.

2,203,827

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Discretionary

–

(continued)

2,594

Lululemon

Athletica,

Inc.*

$

809,302

5,643

Marriott

International,

Inc.,

Class

A

1,304,492

7,086

McDonald's

Corp.

1,834,495

432

Murphy

USA,

Inc.

189,540

14,731

NIKE,

Inc.,

Class

B

1,400,182

2,163

Norwegian

Cruise

Line

Holdings

Ltd.*

35,906

5

NVR,

Inc.*

38,404

432

Ollie's

Bargain

Outlet

Holdings,

Inc.*

35,610

1,179

O'Reilly

Automotive,

Inc.*

1,135,684

6,724

Peloton

Interactive,

Inc.,

Class

A*

24,475

864

Planet

Fitness,

Inc.,

Class

A*

54,985

3

Polaris,

Inc.

251

893

Pool

Corp.

324,650

55

RH*

14,956

7,252

Ross

Stores,

Inc.

1,013,539

1,612

Royal

Caribbean

Cruises

Ltd.*

238,060

1,228

Service

Corp.

International

87,998

216

Skechers

USA,

Inc.,

Class

A*

15,427

26,147

Starbucks

Corp.

2,097,512

219

Tapestry,

Inc.

9,524

651

Tempur

Sealy

International,

Inc.

33,435

64,913

Tesla,

Inc.*

11,559,707

1,571

Texas

Roadhouse,

Inc.

271,265

26,817

TJX

Cos.,

Inc.

(The)

2,764,833

44

TopBuild

Corp.*

18,390

2,541

Tractor

Supply

Co.

724,922

648

Travel

+

Leisure

Co.

28,473

1,140

Ulta

Beauty,

Inc.*

450,403

80

Vail

Resorts,

Inc.

15,098

864

Valvoline,

Inc.*

35,078

651

Victoria's

Secret

&

Co.*

14,836

648

Wayfair,

Inc.,

Class

A*

38,550

3,675

Wendy's

Co.

(The)

64,129

212

Williams-Sonoma,

Inc.

62,163

691

Wingstop,

Inc.

254,737

216

Wyndham

Hotels

&

Resorts,

Inc.

15,284

188

Wynn

Resorts

Ltd.

17,837

2,036

YETI

Holdings,

Inc.*

82,947

5,741

Yum!

Brands,

Inc.

788,986

72,756,336

Consumer

Staples

–

5.0%

651

Albertsons

Cos.,

Inc.,

Class

A

13,437

1,055

BJ's

Wholesale

Club

Holdings,

Inc.*

92,914

216

Boston

Beer

Co.,

Inc.

(The),

Class

A*

67,753

864

Brown-Forman

Corp.,

Class

A

39,571

3,303

Brown-Forman

Corp.,

Class

B

151,476

128

Casey's

General

Stores,

Inc.

42,468

3,376

Celsius

Holdings,

Inc.*

270,012

5,146

Church

&

Dwight

Co.,

Inc.

550,673

2,907

Clorox

Co.

(The)

382,445

45,448

Coca-Cola

Co.

(The)

2,860,043

368

Constellation

Brands,

Inc.,

Class

A

92,085

GOLDMAN

SACHS

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Investments

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May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Staples

–

(continued)

10,423

Costco

Wholesale

Corp.

$

8,441,483

5,109

Dollar

General

Corp.

699,473

1,643

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

202,680

216

Freshpet,

Inc.*

28,333

2,616

Hershey

Co.

(The)

517,523

15,287

Kenvue,

Inc.

295,039

7,392

Kimberly-Clark

Corp.

985,354

3,225

Lamb

Weston

Holdings,

Inc.

284,735

346

Maplebear,

Inc.*

10,546

17,351

Monster

Beverage

Corp.*

900,864

22,396

PepsiCo,

Inc.

3,872,268

1,692

Performance

Food

Group

Co.*

117,763

10,413

Procter &

Gamble

Co.

(The)

1,713,355

11,612

Sysco

Corp.

845,586

10,820

Target

Corp.

1,689,651

25,167,530

Energy

–

0.6%

2,379

Antero

Midstream

Corp.

34,852

6,138

APA

Corp.

187,393

5,587

Cheniere

Energy,

Inc.

881,573

4,136

Halliburton

Co.

151,791

3,646

Hess

Corp.

561,849

1,299

New

Fortress

Energy,

Inc.

32,930

648

ONEOK,

Inc.

52,488

2,673

Ovintiv,

Inc.

138,114

5,197

Targa

Resources

Corp.

614,441

435

Texas

Pacific

Land

Corp.

267,225

2,922,656

Financials

–

7.6%

4,439

American

Express

Co.

1,065,360

2,356

Ameriprise

Financial,

Inc.

1,028,653

12,268

Apollo

Global

Management,

Inc.

1,425,051

1,186

Arch

Capital

Group

Ltd.*

121,719

3,929

Ares

Management

Corp.,

Class

A

550,728

273

Arthur

J

Gallagher

&

Co.

69,159

16,763

Blackstone,

Inc.

2,019,941

4,824

Block,

Inc.*

309,122

1,287

Blue

Owl

Capital,

Inc.

23,153

216

Brighthouse

Financial,

Inc.*

9,614

2,119

Brown

&

Brown,

Inc.

189,672

1,510

Corpay,

Inc.*

404,182

7,719

Equitable

Holdings,

Inc.

320,261

513

Euronet

Worldwide,

Inc.*

59,806

142

Everest

Group

Ltd.

55,512

902

FactSet

Research

Systems,

Inc.

364,643

23

First

Citizens

BancShares,

Inc.,

Class

A

39,064

3,854

Fiserv,

Inc.*

577,175

88

Houlihan

Lokey,

Inc.

11,911

524

Jack

Henry

&

Associates,

Inc.

86,292

513

Kinsale

Capital

Group,

Inc.

196,797

3,838

KKR

&

Co.,

Inc.

394,700

374

Lincoln

National

Corp.

12,338

1,772

LPL

Financial

Holdings,

Inc.

507,164

862

MarketAxess

Holdings,

Inc.

171,478

9,327

Marsh

&

McLennan

Cos.,

Inc.

1,936,099

19,534

Mastercard,

Inc.,

Class

A

8,733,065

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Financials

–

(continued)

3,404

Moody's

Corp.

$

1,351,354

584

Morningstar,

Inc.

168,338

903

MSCI,

Inc.

447,148

37,647

NU

Holdings

Ltd.,

Class

A

(Brazil)*

447,246

22,978

PayPal

Holdings,

Inc.*

1,447,384

510

Primerica,

Inc.

115,204

10,298

Progressive

Corp.

(The)

2,174,732

305

RenaissanceRe

Holdings

Ltd.

(Bermuda)

69,497

216

RLI

Corp.

31,532

864

Rocket

Cos.,

Inc.,

Class

A*

12,010

2,204

Ryan

Specialty

Holdings,

Inc.

122,388

620

S&P

Global,

Inc.

265,056

1,260

Shift4

Payments,

Inc.,

Class

A*

84,773

1,944

SLM

Corp.

41,718

8,287

Toast,

Inc.,

Class

A*

200,794

432

TPG,

Inc.

18,109

864

Tradeweb

Markets,

Inc.,

Class

A

94,185

650

UWM

Holdings

Corp.

4,790

37,528

Visa,

Inc.,

Class

A

10,224,879

1,083

Western

Union

Co.

(The)

13,862

432

WEX,

Inc.*

80,922

288

Willis

Towers

Watson

PLC

73,523

648

XP,

Inc.,

Class

A

(Brazil)

12,306

38,184,409

Health

Care

–

12.9%

1,947

10X

Genomics,

Inc.,

Class

A*

43,652

2,503

Abbott

Laboratories

255,782

41,516

AbbVie,

Inc.

6,694,040

5,540

Agilent

Technologies,

Inc.

722,471

5,414

agilon

health,

Inc.*

34,108

1,795

Align

Technology,

Inc.*

461,692

2,367

Alnylam

Pharmaceuticals,

Inc.*

351,334

8,546

Amgen,

Inc.

2,613,794

2,163

Apellis

Pharmaceuticals,

Inc.*

84,898

432

BioMarin

Pharmaceutical,

Inc.*

32,430

3,449

Bio-Techne

Corp.

266,228

2,353

Bruker

Corp.

154,145

2,969

Cardinal

Health,

Inc.

294,733

3,920

Cencora,

Inc.

888,154

867

Certara,

Inc.*

14,696

239

Chemed

Corp.

132,495

479

Cigna

Group

(The)

165,073

1,224

DaVita,

Inc.*

180,075

9,095

Dexcom,

Inc.*

1,080,213

1,080

Doximity,

Inc.,

Class

A*

29,949

14,161

Edwards

Lifesciences

Corp.*

1,230,449

742

Elevance

Health,

Inc.

399,552

19,910

Eli

Lilly

&

Co.

16,332,970

160

Encompass

Health

Corp.

13,822

1,296

Exact

Sciences

Corp.*

58,903

4,971

Exelixis,

Inc.*

107,821

648

GE

HealthCare

Technologies,

Inc.

50,544

791

Globus

Medical,

Inc.,

Class

A*

53,084

968

HCA

Healthcare,

Inc.

328,878

1,248

Humana,

Inc.

446,934

272

ICON

PLC*

88,351

GOLDMAN

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May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

1,920

IDEXX

Laboratories,

Inc.*

$

954,144

1,080

Illumina,

Inc.*

112,622

3,112

Incyte

Corp.*

179,843

648

Inspire

Medical

Systems,

Inc.*

102,896

1,585

Insulet

Corp.*

280,846

8,216

Intuitive

Surgical,

Inc.*

3,303,818

2,881

Ionis

Pharmaceuticals,

Inc.*

108,239

3,932

IQVIA

Holdings,

Inc.*

861,462

743

Jazz

Pharmaceuticals

PLC*

78,201

1,315

Maravai

LifeSciences

Holdings,

Inc.,

Class

A*

11,401

992

Masimo

Corp.*

123,504

1,193

McKesson

Corp.

679,521

547

Medpace

Holdings,

Inc.*

211,328

10,996

Merck &

Co.,

Inc.

1,380,438

503

Mettler-Toledo

International,

Inc.*

706,257

739

Molina

Healthcare,

Inc.*

232,475

2,557

Natera,

Inc.*

272,397

2,271

Neurocrine

Biosciences,

Inc.*

307,516

2,163

Novocure

Ltd.*

47,608

862

Penumbra,

Inc.*

163,323

164

Regeneron

Pharmaceuticals,

Inc.*

160,746

568

Repligen

Corp.*

84,683

3,414

ResMed,

Inc.

704,411

8,084

Roivant

Sciences

Ltd.*

83,750

2,052

Sarepta

Therapeutics,

Inc.*

266,473

822

Shockwave

Medical,

Inc.*

275,370

1,518

Sotera

Health

Co.*

16,971

2,123

Stryker

Corp.

724,134

206

Tandem

Diabetes

Care,

Inc.*

10,553

5,591

Thermo

Fisher

Scientific,

Inc.

3,175,576

1,797

Ultragenyx

Pharmaceutical,

Inc.*

72,132

18,392

UnitedHealth

Group,

Inc.

9,110,845

3,377

Veeva

Systems,

Inc.,

Class

A*

588,442

5,545

Vertex

Pharmaceuticals,

Inc.*

2,524,860

1,377

Waters

Corp.*

425,355

1,740

West

Pharmaceutical

Services,

Inc.

576,653

10,889

Zoetis,

Inc.

1,846,339

64,376,402

Industrials

–

6.7%

216

A

O

Smith

Corp.

18,066

1,574

Advanced

Drainage

Systems,

Inc.

273,073

1,862

Allegion

PLC

226,829

216

Allison

Transmission

Holdings,

Inc.

16,375

5,664

American

Airlines

Group,

Inc.*

65,136

301

Armstrong

World

Industries,

Inc.

34,856

8,348

Automatic

Data

Processing,

Inc.

2,044,592

216

Avis

Budget

Group,

Inc.

24,566

1,655

Axon

Enterprise,

Inc.*

466,164

1,809

Boeing

Co.

(The)*

321,296

3,013

Booz

Allen

Hamilton

Holding

Corp.

458,609

2,303

Broadridge

Financial

Solutions,

Inc.

462,373

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

432

BWX

Technologies,

Inc.

$

39,800

2,105

C.H.

Robinson

Worldwide,

Inc.

181,809

9,003

Caterpillar,

Inc.

3,047,696

6,485

ChargePoint

Holdings,

Inc.*

(a)

10,895

1,813

Cintas

Corp.

1,229,160

20,006

Copart,

Inc.*

1,061,518

5,018

CSX

Corp.

169,358

216

Dayforce,

Inc.*

10,683

5,668

Deere

&

Co.

2,124,140

648

Delta

Air

Lines,

Inc.

33,061

1,080

Donaldson

Co.,

Inc.

79,574

366

EMCOR

Group,

Inc.

142,250

1,983

Equifax,

Inc.

458,846

432

Expeditors

International

of

Washington,

Inc.

52,229

10,056

Fastenal

Co.

663,495

216

Ferguson

PLC

44,440

143

FTI

Consulting,

Inc.*

30,716

867

Genpact

Ltd.

28,663

1,512

Graco,

Inc.

122,094

928

HEICO

Corp.

205,803

1,666

HEICO

Corp.,

Class

A

292,649

2,021

Honeywell

International,

Inc.

408,626

566

Hubbell,

Inc.

220,112

142

IDEX

Corp.

29,627

5,739

Illinois

Tool

Works,

Inc.

1,393,142

370

J.B.

Hunt

Transport

Services,

Inc.

59,477

1,080

KBR,

Inc.

70,913

648

Landstar

System,

Inc.

117,955

1,185

Lincoln

Electric

Holdings,

Inc.

232,687

5,076

Lockheed

Martin

Corp.

2,387,446

7,900

Lyft,

Inc.,

Class

A*

123,319

145

MSA

Safety,

Inc.

26,100

184

Northrop

Grumman

Corp.

82,942

4,283

Old

Dominion

Freight

Line,

Inc.

750,596

574

Otis

Worldwide

Corp.

56,941

7,514

Paychex,

Inc.

902,882

1,163

Paycom

Software,

Inc.

169,007

435

Paycor

HCM,

Inc.*

5,381

959

Paylocity

Holding

Corp.*

136,341

864

Quanta

Services,

Inc.

238,412

3,161

RB

Global,

Inc.

(Canada)

229,741

2,678

Rockwell

Automation,

Inc.

689,665

6,000

Rollins,

Inc.

274,140

57

Saia,

Inc.*

23,340

326

SiteOne

Landscape

Supply,

Inc.*

50,471

216

Spirit

AeroSystems

Holdings,

Inc.,

Class

A*

6,549

216

Tetra

Tech,

Inc.

45,250

2,354

Toro

Co.

(The)

188,767

1,580

Trane

Technologies

PLC

517,387

211

TransDigm

Group,

Inc.

283,422

2,450

Trex

Co.,

Inc.*

211,876

46,297

Uber

Technologies,

Inc.*

2,988,934

864

U-Haul

Holding

Co.

52,523

6,138

Union

Pacific

Corp.

1,429,049

4,719

United

Parcel

Service,

Inc.,

Class

B

655,611

326

United

Rentals,

Inc.

218,228

3,326

Verisk

Analytics,

Inc.

840,746

GOLDMAN

SACHS

MARKETBETA

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Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

589

Vertiv

Holdings

Co.,

Class

A

$

57,763

1,038

W.W.

Grainger,

Inc.

956,475

8,600

Waste

Management,

Inc.

1,812,278

198

Watsco,

Inc.

94,030

1,080

WillScot

Mobile

Mini

Holdings

Corp.*

42,584

648

Xylem,

Inc.

91,381

33,612,930

Information

Technology

–

39.7%

14,865

Accenture

PLC,

Class

A

4,196,241

10,622

Adobe,

Inc.*

4,724,241

21,457

Advanced

Micro

Devices,

Inc.*

3,581,173

1,515

Allegro

MicroSystems,

Inc.

(Japan)*

45,662

6,839

Amphenol

Corp.,

Class

A

905,278

1,683

ANSYS,

Inc.*

534,268

196,017

Apple,

Inc.

37,684,268

16,610

Applied

Materials,

Inc.

3,572,479

1,213

AppLovin

Corp.,

Class

A*

98,835

5,897

Arista

Networks,

Inc.*

1,755,242

3,615

Atlassian

Corp.,

Class

A*

567,049

5,054

Autodesk,

Inc.*

1,018,886

4,077

Bentley

Systems,

Inc.,

Class

B

204,829

10,143

Broadcom,

Inc.

13,475,483

6,359

Cadence

Design

Systems,

Inc.*

1,820,645

2,969

CDW

Corp.

663,928

6,910

Cloudflare,

Inc.,

Class

A*

467,738

4,384

Confluent,

Inc.,

Class

A*

113,853

5,019

Crowdstrike

Holdings,

Inc.,

Class

A*

1,574,310

6,549

Datadog,

Inc.,

Class

A*

721,569

4,754

DocuSign,

Inc.*

260,234

3,221

DoubleVerify

Holdings,

Inc.*

58,622

5,332

Dropbox,

Inc.,

Class

A*

120,130

6,069

Dynatrace,

Inc.*

277,535

1,887

Elastic

NV*

196,342

3,129

Enphase

Energy,

Inc.*

400,199

216

Entegris,

Inc.

27,292

1,259

EPAM

Systems,

Inc.*

224,014

570

Fair

Isaac

Corp.*

735,260

1,515

Five9,

Inc.*

70,841

15,127

Fortinet,

Inc.*

897,334

1,762

Gartner,

Inc.*

739,459

1,731

Gen

Digital,

Inc.

42,981

2,060

Gitlab,

Inc.,

Class

A*

97,211

941

Globant

SA*

151,614

1,944

GoDaddy,

Inc.,

Class

A*

271,441

1,299

HashiCorp,

Inc.,

Class

A*

43,620

4,145

HP,

Inc.

151,293

1,090

HubSpot,

Inc.*

666,045

6,427

Intuit,

Inc.

3,704,780

1,841

Jabil,

Inc.

218,895

1,078

Keysight

Technologies,

Inc.*

149,281

3,181

KLA

Corp.

2,416,065

2,932

Lam

Research

Corp.

2,733,914

3,202

Lattice

Semiconductor

Corp.*

237,717

1,448

Manhattan

Associates,

Inc.*

317,894

8,832

Microchip

Technology,

Inc.

858,735

95,918

Microsoft

Corp.

39,818,439

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Information

Technology

–

(continued)

1,577

MongoDB,

Inc.*

$

372,267

1,080

Monolithic

Power

Systems,

Inc.

794,480

3,575

Motorola

Solutions,

Inc.

1,304,553

216

nCino,

Inc.*

6,595

1,880

NetApp,

Inc.

226,408

1,333

Nutanix,

Inc.,

Class

A*

73,735

32,865

NVIDIA

Corp.

36,030,886

216

Okta,

Inc.*

19,155

14,918

Oracle

Corp.

1,748,240

45,271

Palantir

Technologies,

Inc.,

Class

A*

981,475

7,181

Palo

Alto

Networks,

Inc.*

2,117,749

864

Pegasystems,

Inc.

49,646

1,870

Procore

Technologies,

Inc.*

125,533

1,369

PTC,

Inc.*

241,273

5,302

Pure

Storage,

Inc.,

Class

A*

319,658

22,887

QUALCOMM,

Inc.

4,670,092

1,731

RingCentral,

Inc.,

Class

A*

59,200

16,601

Salesforce,

Inc.

3,891,939

648

SentinelOne,

Inc.,

Class

A*

10,906

4,790

ServiceNow,

Inc.*

3,146,695

2,932

Smartsheet,

Inc.,

Class

A*

108,484

7,394

Snowflake,

Inc.,

Class

A*

1,006,915

3,573

Synopsys,

Inc.*

2,003,738

2,160

Teradata

Corp.*

70,438

3,018

Teradyne,

Inc.

425,357

8,713

Texas

Instruments,

Inc.

1,699,122

648

Twilio,

Inc.,

Class

A*

37,195

740

Tyler

Technologies,

Inc.*

355,466

82

Ubiquiti,

Inc.

11,739

6,683

UiPath,

Inc.,

Class

A*

81,934

2,379

Unity

Software,

Inc.*

43,464

496

Universal

Display

Corp.

87,147

107

VeriSign,

Inc.*

18,652

1,083

Vontier

Corp.

43,298

4,681

Workday,

Inc.,

Class

A*

989,798

216

Zebra

Technologies

Corp.,

Class

A*

67,465

2,080

Zscaler,

Inc.*

353,517

197,207,378

Materials

–

0.8%

2,973

Ardagh

Metal

Packaging

SA

11,743

648

Avery

Dennison

Corp.

147,478

432

Axalta

Coating

Systems

Ltd.*

15,375

503

Eagle

Materials,

Inc.

116,892

4,508

Ecolab,

Inc.

1,046,758

432

FMC

Corp.

26,330

3,226

Ginkgo

Bioworks

Holdings,

Inc.*

(a)

1,705

3,828

Graphic

Packaging

Holding

Co.

108,409

1,072

Linde

PLC

466,878

1,385

PPG

Industries,

Inc.

182,003

560

RPM

International,

Inc.

62,776

864

Scotts

Miracle-Gro

Co.

(The)

60,212

1,728

Sealed

Air

Corp.

67,167

4,660

Sherwin-Williams

Co.

(The)

1,415,708

2,025

Southern

Copper

Corp.

(Mexico)

240,226

685

Vulcan

Materials

Co.

175,203

4,144,863

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

GROWTH

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

**End

swaps

header**

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Real

Estate

–

1.0%

10,952

American

Tower

Corp.

REIT

$

2,143,744

4,087

CoStar

Group,

Inc.*

319,481

1,039

Crown

Castle,

Inc.

REIT

106,497

1,093

Equinix,

Inc.

REIT

833,937

1,296

Equity

LifeStyle

Properties,

Inc.

REIT

81,350

3,370

Iron

Mountain,

Inc.

REIT

271,925

1,511

Lamar

Advertising

Co.,

Class

A

REIT

178,464

2,141

Public

Storage

REIT

586,270

216

SBA

Communications

Corp.

REIT

42,483

1,625

Simon

Property

Group,

Inc.

REIT

245,879

648

Sun

Communities,

Inc.

REIT

76,458

432

UDR,

Inc.

REIT

16,684

4,903,172

Utilities

–

0.1%

9,345

AES

Corp.

(The)

201,759

2,417

Vistra

Corp.

239,476

441,235

TOTAL

COMMON

STOCKS

(Cost

$459,981,687)

496,780,937

Shares

Dividend

Rate

Value

aa

Investment

Company

–

0.1%

(b)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

578,437

5.180%

$

578,437

(Cost

$578,437)

TOTAL

INVESTMENTS

BEFORE

SECURITIES

LENDING

REINVESTMENT

VEHICLE

(Cost

$460,560,124)

497,359,374

a

Securities

Lending

Reinvestment

Vehicle

–

0.0%

(b)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

13,787

5.227%

13,787

(Cost

$13,787)

TOTAL

INVESTMENTS

–

99.9%

(Cost

$460,573,911)

$

497,373,161

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.1%

275,504

NET

ASSETS

–

100.0%

$

497,648,665

  a

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:

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

FUTURES

CONTRACTS

—

At

May

31,

2024,

the

Portfolio

had

the

following

futures

contracts:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

position

contracts:

E-Mini

Russell

1000

Index

3

06/21/24

$

517,410

$

16,653

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

99.7%

Communication

Services

–

4.5%

1,409

AMC

Entertainment

Holdings,

Inc.,

Class

A*

$

6,101

160,385

AT&T,

Inc.

2,922,215

90

Cable

One,

Inc.

34,732

88,339

Comcast

Corp.,

Class

A

3,536,210

5,950

Electronic

Arts,

Inc.

790,636

5,944

Fox

Corp.,

Class

A

204,652

2,975

Fox

Corp.,

Class

B

95,022

5,525

Frontier

Communications

Parent,

Inc.*

147,297

1,700

IAC,

Inc.*

84,643

8,500

Interpublic

Group

of

Cos.,

Inc.

(The)

266,645

425

Liberty

Broadband

Corp.,

Class

A*

23,052

2,125

Liberty

Broadband

Corp.,

Class

C*

114,941

425

Liberty

Media

Corp.-Liberty

Formula

One,

Class

A*

29,074

4,250

Liberty

Media

Corp.-Liberty

Formula

One,

Class

C*

315,095

425

Liberty

Media

Corp.-Liberty

Live,

Class

A*

15,568

850

Liberty

Media

Corp.-Liberty

Live,

Class

C*

32,359

3,400

Liberty

Media

Corp.-Liberty

SiriusXM*

77,044

1,700

Liberty

Media

Corp.-Liberty

SiriusXM,

Class

A*

38,641

2,550

Live

Nation

Entertainment,

Inc.*

239,037

425

Madison

Square

Garden

Sports

Corp.*

78,476

425

Match

Group,

Inc.*

13,018

3,406

New

York

Times

Co.

(The),

Class

A

174,387

8,500

News

Corp.,

Class

A

231,115

2,550

News

Corp.,

Class

B

71,094

425

Nexstar

Media

Group,

Inc.

70,418

4,250

Omnicom

Group,

Inc.

395,080

6

Paramount

Global,

Class

A

124

12,756

Paramount

Global,

Class

B

151,924

2,550

Roku,

Inc.*

146,370

14,500

Sirius

XM

Holdings,

Inc.

(a)

40,890

3,825

Take-Two

Interactive

Software,

Inc.*

613,377

10,989

T-Mobile

US,

Inc.

1,922,636

2,550

TripAdvisor,

Inc.*

46,793

94,216

Verizon

Communications,

Inc.

3,876,988

40,762

Walt

Disney

Co.

(The)

4,235,579

49,246

Warner

Bros

Discovery,

Inc.*

405,787

3,400

ZoomInfo

Technologies,

Inc.*

41,752

21,488,772

Consumer

Discretionary

–

4.8%

4,693

ADT,

Inc.

33,367

1,275

Advance

Auto

Parts,

Inc.

90,066

5,950

Aptiv

PLC*

495,397

5,112

Aramark

164,351

848

AutoNation,

Inc.*

144,372

50

AutoZone,

Inc.*

138,497

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Discretionary

–

(continued)

5,100

Bath

&

Body

Works,

Inc.

$

264,894

3,825

Best

Buy

Co.,

Inc.

324,437

6

Birkenstock

Holding

PLC

(Luxembourg)*

342

5,100

BorgWarner,

Inc.

181,866

1,700

Boyd

Gaming

Corp.

90,644

1,275

Bright

Horizons

Family

Solutions,

Inc.*

134,028

1,275

Brunswick

Corp.

105,226

2,550

Caesars

Entertainment,

Inc.*

90,678

2,550

Capri

Holdings

Ltd.*

88,102

3,400

CarMax,

Inc.*

238,884

22,064

Carnival

Corp.*

332,725

850

Carter's,

Inc.

58,140

6

Cava

Group,

Inc.*

555

850

Columbia

Sportswear

Co.

72,777

6,800

D.R.

Horton,

Inc.

1,005,040

1,275

Darden

Restaurants,

Inc.

191,747

1,275

Dick's

Sporting

Goods,

Inc.

290,241

1,281

DoorDash,

Inc.,

Class

A*

141,051

11,050

eBay,

Inc.

599,131

1,275

Etsy,

Inc.*

80,924

850

Expedia

Group,

Inc.*

95,931

87,989

Ford

Motor

Co.

1,067,307

5,950

GameStop

Corp.,

Class

A*

137,683

4,250

Gap,

Inc.

(The)

123,080

3,400

Garmin

Ltd.

557,090

25,837

General

Motors

Co.

1,162,407

5,100

Gentex

Corp.

178,500

2,975

Genuine

Parts

Co.

428,817

425

Grand

Canyon

Education,

Inc.*

60,545

1,275

H&R

Block,

Inc.

63,291

2,975

Harley-Davidson,

Inc.

106,743

2,975

Hasbro,

Inc.

177,846

2,975

Hilton

Worldwide

Holdings,

Inc.

596,785

850

Hyatt

Hotels

Corp.,

Class

A

125,350

2,550

Kohl's

Corp.

57,094

425

Las

Vegas

Sands

Corp.

19,138

1,275

Lear

Corp.

159,821

2,975

Leggett

&

Platt,

Inc.

34,510

5,525

Lennar

Corp.,

Class

A

885,934

425

Lennar

Corp.,

Class

B

62,160

566

Lithia

Motors,

Inc.

143,277

5,950

LKQ

Corp.

256,029

3,400

Lowe’s

Cos.,

Inc.

752,386

16,761

Lucid

Group,

Inc.*

(a)

47,601

5,950

Macy’s,

Inc.

115,906

850

Marriott

Vacations

Worldwide

Corp.

76,729

7,656

Mattel,

Inc.*

136,200

9,637

McDonald's

Corp.

2,494,923

6,375

MGM

Resorts

International*

256,084

1,700

Mister

Car

Wash,

Inc.*

11,951

1,275

Mohawk

Industries,

Inc.*

155,461

8,500

Newell

Brands,

Inc.

65,620

12,325

NIKE,

Inc.,

Class

B

1,171,491

2,550

Nordstrom,

Inc.

56,355

7,225

Norwegian

Cruise

Line

Holdings

Ltd.*

119,935

46

NVR,

Inc.*

353,314

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Discretionary

–

(continued)

850

Ollie's

Bargain

Outlet

Holdings,

Inc.*

$

70,065

243

O'Reilly

Automotive,

Inc.*

234,072

3,400

Penn

Entertainment,

Inc.*

59,500

425

Penske

Automotive

Group,

Inc.

64,643

1,886

Petco

Health

&

Wellness

Co.,

Inc.*

7,280

850

Phinia,

Inc.

38,046

850

Planet

Fitness,

Inc.,

Class

A*

54,094

1,275

Polaris,

Inc.

106,590

4,675

PulteGroup,

Inc.

548,471

1,275

PVH

Corp.

153,013

6,393

QuantumScape

Corp.*

37,783

850

Ralph

Lauren

Corp.

158,848

321

RH*

87,290

14,889

Rivian

Automotive,

Inc.,

Class

A*

162,588

425

Ross

Stores,

Inc.

59,398

3,825

Royal

Caribbean

Cruises

Ltd.*

564,876

2,125

Service

Corp.

International

152,277

2,556

Skechers

USA,

Inc.,

Class

A*

182,550

5,094

Tapestry,

Inc.

221,538

2,975

Tempur

Sealy

International,

Inc.

152,796

1,275

Thor

Industries,

Inc.

126,531

2,550

Toll

Brothers,

Inc.

310,182

705

TopBuild

Corp.*

294,655

850

Travel

+

Leisure

Co.

37,349

4,250

Under

Armour,

Inc.,

Class

A*

30,557

4,675

Under

Armour,

Inc.,

Class

C*

32,538

850

Vail

Resorts,

Inc.

160,412

2,544

Valvoline,

Inc.*

103,286

7,656

VF

Corp.

101,672

850

Victoria's

Secret

&

Co.*

19,371

1,275

Wayfair,

Inc.,

Class

A*

75,850

1,275

Whirlpool

Corp.

118,613

1,275

Williams-Sonoma,

Inc.

373,856

1,700

Wyndham

Hotels

&

Resorts,

Inc.

120,292

2,125

Wynn

Resorts

Ltd.

201,620

850

Yum!

Brands,

Inc.

116,815

23,010,093

Consumer

Staples

–

7.9%

8,500

Albertsons

Cos.,

Inc.,

Class

A

175,440

39,912

Altria

Group,

Inc.

1,845,930

11,900

Archer-Daniels-Midland

Co.

743,036

2,125

BJ's

Wholesale

Club

Holdings,

Inc.*

187,149

425

Brown-Forman

Corp.,

Class

A

19,465

850

Brown-Forman

Corp.,

Class

B

38,981

3,400

Bunge

Global

SA

365,806

4,250

Campbell

Soup

Co.

188,615

744

Casey's

General

Stores,

Inc.

246,844

425

Church

&

Dwight

Co.,

Inc.

45,479

43,737

Coca-Cola

Co.

(The)

2,752,369

18,239

Colgate-Palmolive

Co.

1,695,497

10,625

Conagra

Brands,

Inc.

317,475

3,282

Constellation

Brands,

Inc.,

Class

A

821,255

8,081

Coty,

Inc.,

Class

A*

83,719

3,400

Darling

Ingredients,

Inc.*

137,360

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Staples

–

(continued)

4,675

Dollar

Tree,

Inc.*

$

551,416

3,400

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

419,424

4,250

Flowers

Foods,

Inc.

98,685

850

Freshpet,

Inc.*

111,494

13,177

General

Mills,

Inc.

905,919

2,125

Grocery

Outlet

Holding

Corp.*

46,729

850

Hershey

Co.

(The)

168,156

6,375

Hormel

Foods

Corp.

197,498

1,275

Ingredion,

Inc.

149,915

2,125

J

M

Smucker

Co.

(The)

237,235

5,950

Kellanova

359,023

25,472

Kenvue,

Inc.

491,610

21,214

Keurig

Dr

Pepper,

Inc.

726,579

425

Kimberly-Clark

Corp.

56,653

17,814

Kraft

Heinz

Co.

(The)

630,081

14,464

Kroger

Co.

(The)

757,480

5,525

McCormick

&

Co.,

Inc.

399,016

3,825

Molson

Coors

Beverage

Co.,

Class

B

209,648

30,147

Mondelez

International,

Inc.,

Class

A

2,065,974

3,298

Olaplex

Holdings,

Inc.*

5,870

9,356

PepsiCo,

Inc.

1,617,652

1,700

Performance

Food

Group

Co.*

118,320

34,806

Philip

Morris

International,

Inc.

3,528,632

850

Pilgrim's

Pride

Corp.*

30,540

1,275

Post

Holdings,

Inc.*

135,877

42,872

Procter &

Gamble

Co.

(The)

7,054,159

1,275

Reynolds

Consumer

Products,

Inc.

36,261

850

Spectrum

Brands

Holdings,

Inc.

76,279

6,375

Tyson

Foods,

Inc.,

Class

A

364,969

5,100

US

Foods

Holding

Corp.*

269,433

16,108

Walgreens

Boots

Alliance,

Inc.

261,272

95,604

Walmart,

Inc.

6,286,919

1,275

WK

Kellogg

Co.

24,212

38,057,350

Energy

–

8.0%

5,100

Antero

Midstream

Corp.

74,715

6,375

Antero

Resources

Corp.*

227,141

850

APA

Corp.

25,950

22,483

Baker

Hughes

Co.

752,731

2,975

Chesapeake

Energy

Corp.

270,517

38,597

Chevron

Corp.

6,264,293

26,747

ConocoPhillips

3,115,491

16,539

Coterra

Energy,

Inc.

471,692

14,458

Devon

Energy

Corp.

709,599

3,959

Diamondback

Energy,

Inc.

788,870

2,125

DT

Midstream,

Inc.

142,545

13,175

EOG

Resources,

Inc.

1,640,946

8,075

EQT

Corp.

331,802

101,522

Exxon

Mobil

Corp.

11,904,470

16,108

Halliburton

Co.

591,164

2,556

Hess

Corp.

393,880

3,613

HF

Sinclair

Corp.

199,546

43,721

Kinder

Morgan,

Inc.

852,122

14,021

Marathon

Oil

Corp.

406,048

8,213

Marathon

Petroleum

Corp.

1,450,498

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Energy

–

(continued)

8,925

NOV,

Inc.

$

167,968

15,727

Occidental

Petroleum

Corp.

982,938

12,324

ONEOK,

Inc.

998,244

3,400

Ovintiv,

Inc.

175,678

9,776

Phillips

66

1,389,267

5,100

Range

Resources

Corp.

188,241

31,837

Schlumberger

NV

1,461,000

24,973

Southwestern

Energy

Co.*

188,047

9,775

TechnipFMC

PLC

(United

Kingdom)

256,007

7,650

Valero

Energy

Corp.

1,202,121

27,172

Williams

Cos.,

Inc.

(The)

1,127,910

38,751,441

Financials

–

22.8%

850

Affiliated

Managers

Group,

Inc.

138,210

4,681

Affirm

Holdings,

Inc.*

137,013

13,183

Aflac,

Inc.

1,184,756

13,212

AGNC

Investment

Corp.

REIT

126,703

5,950

Allstate

Corp.

(The)

996,744

5,950

Ally

Financial,

Inc.

231,872

8,780

American

Express

Co.

2,107,200

1,700

American

Financial

Group,

Inc.

220,847

16,102

American

International

Group,

Inc.

1,269,160

11,050

Annaly

Capital

Management,

Inc.

REIT

217,685

4,494

Aon

PLC,

Class

A

1,265,690

6,800

Arch

Capital

Group

Ltd.*

697,884

4,673

Arthur

J

Gallagher

&

Co.

1,183,811

1,275

Assurant,

Inc.

221,174

1,275

Assured

Guaranty

Ltd.

99,093

1,700

Axis

Capital

Holdings

Ltd.

125,596

154,434

Bank

of

America

Corp.

6,175,816

17,377

Bank

of

New

York

Mellon

Corp.

(The)

1,035,843

2,550

Bank

OZK

106,794

41,091

Berkshire

Hathaway,

Inc.,

Class

B*

17,028,110

3,347

BlackRock,

Inc.

2,583,984

7,650

Block,

Inc.*

490,212

8,486

Blue

Owl

Capital,

Inc.

152,663

425

BOK

Financial

Corp.

38,513

1,275

Brighthouse

Financial,

Inc.*

56,750

3,400

Brown

&

Brown,

Inc.

304,334

8,500

Capital

One

Financial

Corp.

1,169,855

4,675

Carlyle

Group,

Inc.

(The)

200,838

2,548

Cboe

Global

Markets,

Inc.

440,779

33,112

Charles

Schwab

Corp.

(The)

2,426,447

9,141

Chubb

Ltd.

2,475,566

3,400

Cincinnati

Financial

Corp.

399,772

42,879

Citigroup,

Inc.

2,671,790

10,625

Citizens

Financial

Group,

Inc.

374,956

8,075

CME

Group,

Inc.

1,639,064

425

CNA

Financial

Corp.

19,524

3,825

Coinbase

Global,

Inc.,

Class

A*

864,144

4,675

Columbia

Banking

System,

Inc.

90,134

2,975

Comerica,

Inc.

152,439

2,551

Commerce

Bancshares,

Inc.

141,938

4,262

Corebridge

Financial,

Inc.

124,323

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Financials

–

(continued)

86

Corpay,

Inc.*

$

23,020

109

Credit

Acceptance

Corp.*

53,500

1,275

Cullen/Frost

Bankers,

Inc.

129,515

5,525

Discover

Financial

Services

677,697

2,975

East

West

Bancorp,

Inc.

220,715

425

Euronet

Worldwide,

Inc.*

49,547

850

Evercore,

Inc.,

Class

A

172,499

850

Everest

Group

Ltd.

332,290

5,950

Fidelity

National

Financial,

Inc.

299,642

13,175

Fidelity

National

Information

Services,

Inc.

999,719

15,308

Fifth

Third

Bancorp

572,825

2,125

First

American

Financial

Corp.

118,107

263

First

Citizens

BancShares,

Inc.,

Class

A

446,687

2,975

First

Hawaiian,

Inc.

60,482

12,325

First

Horizon

Corp.

195,228

9,775

Fiserv,

Inc.*

1,463,904

8,075

FNB

Corp.

111,193

6,381

Franklin

Resources,

Inc.

150,592

5,948

Global

Payments,

Inc.

605,804

2,125

Globe

Life,

Inc.

175,865

7,105

Goldman

Sachs

Group,

Inc.

(The)

3,243,575

850

Hanover

Insurance

Group,

Inc.

(The)

112,141

6,800

Hartford

Financial

Services

Group,

Inc.

(The)

703,460

856

Houlihan

Lokey,

Inc.

115,860

32,256

Huntington

Bancshares,

Inc.

449,004

2,131

Interactive

Brokers

Group,

Inc.,

Class

A

267,909

12,750

Intercontinental

Exchange,

Inc.

1,707,225

8,075

Invesco

Ltd.

126,858

1,273

Jack

Henry

&

Associates,

Inc.

209,638

2,975

Janus

Henderson

Group

PLC

99,662

4,250

Jefferies

Financial

Group,

Inc.

197,710

64,781

JPMorgan

Chase &

Co.

13,126,574

1,275

Kemper

Corp.

76,296

20,783

KeyCorp

298,652

11,056

KKR

&

Co.,

Inc.

1,136,999

2,550

Lazard,

Inc.

102,586

3,400

Lincoln

National

Corp.

112,166

4,250

Loews

Corp.

326,400

3,825

M&T

Bank

Corp.

579,870

323

Markel

Group,

Inc.*

530,234

2,125

Marsh

&

McLennan

Cos.,

Inc.

441,107

14,452

MetLife,

Inc.

1,045,891

6,375

MGIC

Investment

Corp.

133,875

338

Moody's

Corp.

134,183

26,250

Morgan

Stanley

2,568,300

850

MSCI,

Inc.

420,903

7,650

Nasdaq,

Inc.

451,579

1,275

NCR

Atleos

Corp.*

35,483

15,689

New

York

Community

Bancorp,

Inc.

51,617

4,675

Northern

Trust

Corp.

393,822

16,114

NU

Holdings

Ltd.,

Class

A

(Brazil)*

191,434

5,950

Old

Republic

International

Corp.

189,091

GOLDMAN

SACHS

MARKETBETA

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VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Financials

–

(continued)

2,550

OneMain

Holdings,

Inc.

$

125,256

2,544

PayPal

Holdings,

Inc.*

160,247

1,700

Pinnacle

Financial

Partners,

Inc.

135,167

8,925

PNC

Financial

Services

Group,

Inc.

(The)

1,404,706

1,700

Popular,

Inc.

(Puerto

Rico)

151,317

425

Primerica,

Inc.

96,003

5,525

Principal

Financial

Group,

Inc.

453,271

3,400

Progressive

Corp.

(The)

718,012

2,125

Prosperity

Bancshares,

Inc.

132,388

8,075

Prudential

Financial,

Inc.

971,826

4,250

Raymond

James

Financial,

Inc.

521,688

20,783

Regions

Financial

Corp.

402,151

1,536

Reinsurance

Group

of

America,

Inc.

322,253

850

RenaissanceRe

Holdings

Ltd.

(Bermuda)

193,681

10,631

Rithm

Capital

Corp.

REIT

119,174

850

RLI

Corp.

124,083

14,877

Robinhood

Markets,

Inc.,

Class

A*

310,929

1,700

Rocket

Cos.,

Inc.,

Class

A*

23,630

6,482

S&P

Global,

Inc.

2,771,120

2,125

SEI

Investments

Co.

143,884

2,975

SLM

Corp.

63,843

20,354

SoFi

Technologies,

Inc.*

140,443

6,381

Starwood

Property

Trust,

Inc.

REIT

124,047

7,219

State

Street

Corp.

545,684

2,125

Stifel

Financial

Corp.

172,019

9,344

Synchrony

Financial

409,267

3,400

Synovus

Financial

Corp.

134,946

5,100

T.

Rowe

Price

Group,

Inc.

600,933

1,275

TFS

Financial

Corp.

16,804

856

TPG,

Inc.

35,884

1,700

Tradeweb

Markets,

Inc.,

Class

A

185,317

5,100

Travelers

Cos.,

Inc.

(The)

1,100,070

29,716

Truist

Financial

Corp.

1,121,779

4,250

Unum

Group

228,905

34,906

US

Bancorp

1,415,438

1,275

UWM

Holdings

Corp.

9,397

2,125

Virtu

Financial,

Inc.,

Class

A

46,750

2,125

Voya

Financial,

Inc.

161,118

4,675

W

R

Berkley

Corp.

378,815

3,825

Webster

Financial

Corp.

169,141

80,744

Wells

Fargo &

Co.

4,838,180

2,550

Western

Alliance

Bancorp

160,726

7,219

Western

Union

Co.

(The)

92,403

425

WEX,

Inc.*

79,611

43

White

Mountains

Insurance

Group

Ltd.

77,701

2,125

Willis

Towers

Watson

PLC

542,491

1,275

Wintrust

Financial

Corp.

125,728

6,800

XP,

Inc.,

Class

A

(Brazil)

129,132

3,400

Zions

Bancorp

NA

146,846

110,361,165

Health

Care

–

13.8%

36,405

Abbott

Laboratories

3,720,227

2,125

Acadia

Healthcare

Co.,

Inc.*

146,391

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

1,275

Agilent

Technologies,

Inc.

$

166,273

850

agilon

health,

Inc.*

5,355

425

Alnylam

Pharmaceuticals,

Inc.*

63,083

850

Amedisys,

Inc.*

77,477

3,825

Amgen,

Inc.

1,169,876

14,889

Avantor,

Inc.*

358,527

1,275

Azenta,

Inc.*

64,400

11,475

Baxter

International,

Inc.

391,183

6,375

Becton

Dickinson

&

Co.

1,478,809

3,398

Biogen,

Inc.*

764,346

3,825

BioMarin

Pharmaceutical,

Inc.*

287,143

425

Bio-Rad

Laboratories,

Inc.,

Class

A*

121,916

32,686

Boston

Scientific

Corp.*

2,470,081

45,421

Bristol-Myers

Squibb

Co.

1,866,349

2,551

Cardinal

Health,

Inc.

253,238

3,831

Catalent,

Inc.*

206,069

11,900

Centene

Corp.*

851,921

1,700

Certara,

Inc.*

28,815

1,275

Charles

River

Laboratories

International,

Inc.*

265,761

73

Chemed

Corp.

40,469

5,950

Cigna

Group

(The)

2,050,489

4,331

Cooper

Cos.,

Inc.

(The)

408,457

28,447

CVS

Health

Corp.

1,695,441

14,881

Danaher

Corp.

3,821,441

4,675

DENTSPLY

SIRONA,

Inc.

130,947

1,694

Doximity,

Inc.,

Class

A*

46,975

11,050

Elanco

Animal

Health,

Inc.*

195,364

4,674

Elevance

Health,

Inc.

2,516,856

2,125

Encompass

Health

Corp.

183,579

1,275

Enovis

Corp.*

64,094

3,825

Envista

Holdings

Corp.*

74,052

2,550

Exact

Sciences

Corp.*

115,897

1,700

Exelixis,

Inc.*

36,873

2,125

Fortrea

Holdings,

Inc.*

53,954

8,604

GE

HealthCare

Technologies,

Inc.

671,112

28,016

Gilead

Sciences,

Inc.

1,800,588

1,706

Globus

Medical,

Inc.,

Class

A*

114,490

3,505

HCA

Healthcare,

Inc.

1,190,824

2,975

Henry

Schein,

Inc.*

206,287

5,519

Hologic,

Inc.*

407,192

1,583

Humana,

Inc.

566,904

1,586

ICON

PLC*

515,165

425

ICU

Medical,

Inc.*

45,194

2,550

Illumina,

Inc.*

265,914

1,275

Incyte

Corp.*

73,682

1,700

Integra

LifeSciences

Holdings

Corp.*

52,530

425

Ionis

Pharmaceuticals,

Inc.*

15,967

425

IQVIA

Holdings,

Inc.*

93,113

850

Jazz

Pharmaceuticals

PLC*

89,462

53,919

Johnson &

Johnson

7,908,300

1,949

Labcorp

Holdings,

Inc.

379,880

856

Maravai

LifeSciences

Holdings,

Inc.,

Class

A*

7,422

1,815

McKesson

Corp.

1,033,806

29,716

Medtronic

PLC

2,417,991

46,271

Merck &

Co.,

Inc.

5,808,861

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

7,231

Moderna,

Inc.*

$

1,030,779

554

Molina

Healthcare,

Inc.*

174,277

5,531

Organon

&

Co.

117,976

2,975

Perrigo

Co.

PLC

81,902

126,798

Pfizer,

Inc.

3,634,031

2,550

Premier,

Inc.,

Class

A

48,246

4,959

QIAGEN

NV*

214,526

2,550

Quest

Diagnostics,

Inc.

362,024

1,275

QuidelOrtho

Corp.*

56,342

3,400

R1

RCM,

Inc.*

43,724

2,125

Regeneron

Pharmaceuticals,

Inc.*

2,082,840

848

Repligen

Corp.*

126,428

2,975

Revvity,

Inc.

325,048

425

Roivant

Sciences

Ltd.*

4,403

8,081

Royalty

Pharma

PLC,

Class

A

221,500

3,059

Solventum

Corp.*

181,521

850

Sotera

Health

Co.*

9,503

2,125

STERIS

PLC

473,620

5,950

Stryker

Corp.

2,029,485

1,275

Tandem

Diabetes

Care,

Inc.*

65,318

3,825

Teladoc

Health,

Inc.*

42,993

1,102

Teleflex,

Inc.

230,395

2,125

Tenet

Healthcare

Corp.*

287,342

3,339

Thermo

Fisher

Scientific,

Inc.

1,896,485

975

United

Therapeutics

Corp.*

268,252

3,333

UnitedHealth

Group,

Inc.

1,651,068

1,275

Universal

Health

Services,

Inc.,

Class

B

241,995

426

Vertex

Pharmaceuticals,

Inc.*

193,975

26,741

Viatris,

Inc.

283,455

4,675

Zimmer

Biomet

Holdings,

Inc.

538,326

66,774,591

Industrials

–

14.4%

12,325

3M

Co.

1,234,226

2,550

A

O

Smith

Corp.

213,282

726

Acuity

Brands,

Inc.

188,477

2,975

AECOM

259,837

1,275

AGCO

Corp.

136,846

2,131

Air

Lease

Corp.

101,521

2,975

Alaska

Air

Group,

Inc.*

125,010

1,700

Allison

Transmission

Holdings,

Inc.

128,877

8,931

American

Airlines

Group,

Inc.*

102,706

5,100

AMETEK,

Inc.

864,858

850

Armstrong

World

Industries,

Inc.

98,430

1,275

Automatic

Data

Processing,

Inc.

312,273

425

Avis

Budget

Group,

Inc.

48,335

2,981

AZEK

Co.,

Inc.

(The)*

142,969

10,975

Boeing

Co.

(The)*

1,949,270

425

Broadridge

Financial

Solutions,

Inc.

85,327

2,680

Builders

FirstSource,

Inc.*

430,917

1,700

BWX

Technologies,

Inc.

156,621

425

C.H.

Robinson

Worldwide,

Inc.

36,707

425

CACI

International,

Inc.,

Class

A*

180,404

1,126

Carlisle

Cos.,

Inc.

470,995

18,658

Carrier

Global

Corp.

1,178,999

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

2,885

Caterpillar,

Inc.

$

976,630

260

Cintas

Corp.

176,272

10,625

Clarivate

PLC*

60,562

1,275

Clean

Harbors,

Inc.*

276,152

21,639

CNH

Industrial

NV

228,508

850

Concentrix

Corp.

52,130

3,873

Core

&

Main,

Inc.,

Class

A*

222,930

1,275

Crane

Co.

190,077

39,062

CSX

Corp.

1,318,343

3,226

Cummins,

Inc.

908,861

850

Curtiss-Wright

Corp.

240,397

2,975

Dayforce,

Inc.*

147,144

425

Deere

&

Co.

159,273

13,608

Delta

Air

Lines,

Inc.

694,280

1,700

Donaldson

Co.,

Inc.

125,256

2,975

Dover

Corp.

546,865

1,275

Driven

Brands

Holdings,

Inc.*

14,650

5,950

Dun

&

Bradstreet

Holdings,

Inc.

57,060

8,925

Eaton

Corp.

PLC

2,970,686

717

EMCOR

Group,

Inc.

278,669

12,750

Emerson

Electric

Co.

1,430,040

850

Equifax,

Inc.

196,681

1,275

Esab

Corp.

131,095

2,975

Expeditors

International

of

Washington,

Inc.

359,677

3,400

Fastenal

Co.

224,332

5,100

FedEx

Corp.

1,295,196

4,250

Ferguson

PLC

874,395

2,975

Flowserve

Corp.

147,857

8,075

Fortive

Corp.

601,103

2,975

Fortune

Brands

Innovations,

Inc.

208,429

567

FTI

Consulting,

Inc.*

121,792

2,568

Gates

Industrial

Corp.

PLC*

44,735

6,026

GE

Vernova,

Inc.*

1,059,973

1,275

Generac

Holdings,

Inc.*

187,693

5,524

General

Dynamics

Corp.

1,655,929

24,191

General

Electric

Co.

3,994,902

2,975

Genpact

Ltd.

98,353

2,125

Graco,

Inc.

171,594

2,550

GXO

Logistics,

Inc.*

128,086

2,975

Hayward

Holdings,

Inc.*

43,108

2,975

Hertz

Global

Holdings,

Inc.*

12,971

1,700

Hexcel

Corp.

117,079

13,173

Honeywell

International,

Inc.

2,663,449

8,500

Howmet

Aerospace,

Inc.

719,525

696

Hubbell,

Inc.

270,667

850

Huntington

Ingalls

Industries,

Inc.

215,135

1,700

IDEX

Corp.

354,688

1,275

Illinois

Tool

Works,

Inc.

309,506

8,925

Ingersoll

Rand,

Inc.

830,471

1,700

ITT,

Inc.

225,896

1,529

J.B.

Hunt

Transport

Services,

Inc.

245,787

2,973

Jacobs

Solutions,

Inc.

414,258

15,308

Johnson

Controls

International

PLC

1,100,798

2,125

KBR,

Inc.

139,527

1,275

Kirby

Corp.*

158,317

3,400

Knight-Swift

Transportation

Holdings,

Inc.

164,050

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

4,250

L3Harris

Technologies,

Inc.

$

955,527

2

Landstar

System,

Inc.

364

2,975

Leidos

Holdings,

Inc.

437,474

746

Lennox

International,

Inc.

374,940

1,275

ManpowerGroup,

Inc.

95,141

5,100

Masco

Corp.

356,592

1,275

MasTec,

Inc.*

143,119

4,675

MDU

Resources

Group,

Inc.

117,997

1,275

Mercury

Systems,

Inc.*

39,461

1,275

Middleby

Corp.

(The)*

164,360

848

MSA

Safety,

Inc.

152,640

850

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

73,015

1,275

Nordson

Corp.

299,268

5,100

Norfolk

Southern

Corp.

1,146,480

2,975

Northrop

Grumman

Corp.

1,341,041

3,825

nVent

Electric

PLC

311,278

326

Old

Dominion

Freight

Line,

Inc.

57,131

1,275

Oshkosh

Corp.

145,006

8,506

Otis

Worldwide

Corp.

843,795

2,125

Owens

Corning

384,774

11,475

PACCAR,

Inc.

1,233,563

2,888

Parker-Hannifin

Corp.

1,535,030

850

Paycor

HCM,

Inc.*

10,514

3,825

Pentair

PLC

311,278

11,859

Plug

Power,

Inc.*

(a)

39,490

2,413

Quanta

Services,

Inc.

665,843

850

RB

Global,

Inc.

(Canada)

61,778

681

RBC

Bearings,

Inc.*

201,086

1,530

Regal

Rexnord

Corp.

228,796

4,675

Republic

Services,

Inc.

865,763

2,544

Robert

Half,

Inc.

163,401

32,264

RTX

Corp.

3,478,382

850

Ryder

System,

Inc.

103,250

506

Saia,

Inc.*

207,197

1,275

Schneider

National,

Inc.,

Class

B

28,662

1,275

Science

Applications

International

Corp.

171,679

3,400

Sensata

Technologies

Holding

PLC

140,488

848

SiteOne

Landscape

Supply,

Inc.*

131,287

1,274

Snap-on,

Inc.

347,624

13,189

Southwest

Airlines

Co.

353,993

2,125

Spirit

AeroSystems

Holdings,

Inc.,

Class

A*

64,430

4,681

SS&C

Technologies

Holdings,

Inc.

290,456

3,400

Stanley

Black

&

Decker,

Inc.

296,378

2,125

Stericycle,

Inc.*

109,523

4,675

Sunrun,

Inc.*

67,600

850

Tetra

Tech,

Inc.

178,066

4,250

Textron,

Inc.

372,343

1,275

Timken

Co.

(The)

110,785

3,648

Trane

Technologies

PLC

1,194,574

956

TransDigm

Group,

Inc.

1,284,128

4,250

TransUnion

305,660

1,275

U-Haul

Holding

Co.

77,507

7,787

Union

Pacific

Corp.

1,812,969

7,225

United

Airlines

Holdings,

Inc.*

382,853

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

11,898

United

Parcel

Service,

Inc.,

Class

B

$

1,652,989

1,221

United

Rentals,

Inc.

817,350

425

Valmont

Industries,

Inc.

106,845

5,100

Veralto

Corp.

502,758

7,225

Vertiv

Holdings

Co.,

Class

A

708,556

2,550

Vestis

Corp.

31,416

850

Waste

Management,

Inc.

179,121

535

Watsco,

Inc.

254,072

850

WESCO

International,

Inc.

152,566

3,825

Westinghouse

Air

Brake

Technologies

Corp.

647,305

3,394

WillScot

Mobile

Mini

Holdings

Corp.*

133,825

1,275

Woodward,

Inc.

237,787

2,550

XPO,

Inc.*

272,799

4,675

Xylem,

Inc.

659,269

69,631,163

Information

Technology

–

9.1%

15,540

Advanced

Micro

Devices,

Inc.*

2,593,626

3,400

Akamai

Technologies,

Inc.*

313,616

2,550

Amdocs

Ltd.

201,450

6,375

Amphenol

Corp.,

Class

A

843,859

11,051

Analog

Devices,

Inc.

2,591,349

424

ANSYS,

Inc.*

134,599

2,975

Applied

Materials,

Inc.

639,863

3,400

AppLovin

Corp.,

Class

A*

277,032

1,275

Arrow

Electronics,

Inc.*

167,420

573

Aspen

Technology,

Inc.*

120,702

2,125

Avnet,

Inc.

116,025

425

Bentley

Systems,

Inc.,

Class

B

21,352

2,125

BILL

Holdings,

Inc.*

110,606

7,598

CCC

Intelligent

Solutions

Holdings,

Inc.*

84,946

137

CDW

Corp.

30,636

3,400

Ciena

Corp.*

163,778

1,275

Cirrus

Logic,

Inc.*

146,243

90,515

Cisco

Systems,

Inc.

4,208,948

3,825

Cognex

Corp.

174,114

11,475

Cognizant

Technology

Solutions

Corp.,

Class

A

759,071

2,556

Coherent

Corp.*

145,845

16,958

Corning,

Inc.

631,855

1,275

Crane

NXT

Co.

80,605

1,275

Dolby

Laboratories,

Inc.,

Class

A

103,288

850

Dropbox,

Inc.,

Class

A*

19,151

4,669

DXC

Technology

Co.*

72,603

2,981

Entegris,

Inc.

376,649

1,275

F5,

Inc.*

215,437

2,548

First

Solar,

Inc.*

692,444

10,625

Gen

Digital,

Inc.

263,819

1,700

GLOBALFOUNDRIES,

Inc.*

83,300

1,275

GoDaddy,

Inc.,

Class

A*

178,028

1,700

Guidewire

Software,

Inc.*

193,664

850

HashiCorp,

Inc.,

Class

A*

28,543

28,872

Hewlett

Packard

Enterprise

Co.

509,591

15,308

HP,

Inc.

558,742

850

Informatica,

Inc.,

Class

A*

24,522

94,424

Intel

Corp.

2,912,980

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Information

Technology

–

(continued)

20,358

International

Business

Machines

Corp.

$

3,396,732

850

IPG

Photonics

Corp.*

73,720

850

Jabil,

Inc.

101,065

7,225

Juniper

Networks,

Inc.

257,716

2,975

Keysight

Technologies,

Inc.*

411,978

5,100

Kyndryl

Holdings,

Inc.*

135,711

122

Lam

Research

Corp.

113,758

425

Littelfuse,

Inc.

109,055

1,700

Lumentum

Holdings,

Inc.*

73,950

19,083

Marvell

Technology,

Inc.

1,313,101

3,400

Microchip

Technology,

Inc.

330,582

24,197

Micron

Technology,

Inc.

3,024,625

1,281

MKS

Instruments,

Inc.

162,162

325

Motorola

Solutions,

Inc.

118,596

1,275

nCino,

Inc.*

38,926

2,975

NCR

Voyix

Corp.*

39,211

2,975

NetApp,

Inc.

358,279

3,831

Nutanix,

Inc.,

Class

A*

211,912

2,981

Okta,

Inc.*

264,355

9,775

ON

Semiconductor

Corp.*

713,966

20,378

Oracle

Corp.

2,388,098

1,275

PTC,

Inc.*

224,706

1,275

Pure

Storage,

Inc.,

Class

A*

76,870

2,125

Qorvo,

Inc.*

209,079

3,398

QUALCOMM,

Inc.

693,362

2,409

Roper

Technologies,

Inc.

1,283,419

5,100

Salesforce,

Inc.

1,195,644

4,256

SentinelOne,

Inc.,

Class

A*

71,628

3,400

Skyworks

Solutions,

Inc.

315,044

1,295

TD

SYNNEX

Corp.

169,438

1,003

Teledyne

Technologies,

Inc.*

398,141

425

Teradyne,

Inc.

59,900

11,906

Texas

Instruments,

Inc.

2,321,789

5,525

Trimble,

Inc.*

307,632

2,981

Twilio,

Inc.,

Class

A*

171,109

271

Tyler

Technologies,

Inc.*

130,178

2,125

UiPath,

Inc.,

Class

A*

26,052

3,825

Unity

Software,

Inc.*

69,883

425

Universal

Display

Corp.

74,672

1,845

VeriSign,

Inc.*

321,620

2,550

Viasat,

Inc.*

43,069

2,125

Vontier

Corp.

84,958

7,225

Western

Digital

Corp.*

543,970

2,975

Wolfspeed,

Inc.*

76,457

850

Zebra

Technologies

Corp.,

Class

A*

265,489

5,531

Zoom

Video

Communications,

Inc.,

Class

A*

339,272

43,901,180

Materials

–

4.8%

5,099

Air

Products

and

Chemicals,

Inc.

1,359,903

2,550

Albemarle

Corp.

312,604

3,825

Alcoa

Corp.

169,333

33,509

Amcor

PLC

340,787

1,275

AptarGroup,

Inc.

188,305

425

Ardagh

Metal

Packaging

SA

1,679

856

Ashland,

Inc.

85,746

1,275

Avery

Dennison

Corp.

290,177

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Materials

–

(continued)

4,250

Axalta

Coating

Systems

Ltd.*

$

151,257

6,800

Ball

Corp.

472,124

2,550

Berry

Global

Group,

Inc.

152,694

2,125

Celanese

Corp.

323,085

4,250

CF

Industries

Holdings,

Inc.

338,853

3,400

Chemours

Co.

(The)

84,388

11,469

Cleveland-Cliffs,

Inc.*

198,184

15,733

Corteva,

Inc.

880,104

2,550

Crown

Holdings,

Inc.

214,685

15,739

Dow,

Inc.

907,039

9,669

DuPont

de

Nemours,

Inc.

794,405

297

Eagle

Materials,

Inc.

69,020

2,550

Eastman

Chemical

Co.

258,392

1,275

Ecolab,

Inc.

296,055

5,100

Element

Solutions,

Inc.

122,553

2,550

FMC

Corp.

155,423

31,837

Freeport-McMoRan,

Inc.

1,678,765

31,342

Ginkgo

Bioworks

Holdings,

Inc.*

(a)

16,564

2,981

Graphic

Packaging

Holding

Co.

84,422

3,825

Huntsman

Corp.

94,860

5,531

International

Flavors

&

Fragrances,

Inc.

531,972

7,650

International

Paper

Co.

344,938

9,829

Linde

PLC

4,280,726

1,275

Louisiana-Pacific

Corp.

116,892

5,950

LyondellBasell

Industries

NV,

Class

A

591,549

1,359

Martin

Marietta

Materials,

Inc.

777,457

7,225

Mosaic

Co.

(The)

223,469

2,131

MP

Materials

Corp.*

34,565

109

NewMarket

Corp.

58,323

25,891

Newmont

Corp.

1,085,869

5,525

Nucor

Corp.

932,896

2,969

Olin

Corp.

159,613

2,125

Packaging

Corp.

of

America

389,916

3,825

PPG

Industries,

Inc.

502,643

1,275

Reliance,

Inc.

383,494

1,275

Royal

Gold,

Inc.

163,442

2,125

RPM

International,

Inc.

238,213

1,275

Sealed

Air

Corp.

49,559

850

Sherwin-Williams

Co.

(The)

258,230

1,700

Silgan

Holdings,

Inc.

80,325

2,125

Sonoco

Products

Co.

130,411

4,675

SSR

Mining,

Inc.

(Canada)

24,964

3,400

Steel

Dynamics,

Inc.

455,158

5,100

United

States

Steel

Corp.

195,585

2,273

Vulcan

Materials

Co.

581,365

850

Westlake

Corp.

136,476

5,525

Westrock

Co.

296,361

23,065,817

Real

Estate

–

4.4%

2,125

Agree

Realty

Corp.

REIT

129,115

3,825

Alexandria

Real

Estate

Equities,

Inc.

REIT

455,175

7,231

American

Homes

4

Rent,

Class

A

REIT

260,605

5,956

Americold

Realty

Trust,

Inc.

REIT

158,847

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Real

Estate

–

(continued)

3,400

Apartment

Income

REIT

Corp.

REIT

$

131,750

3,225

AvalonBay

Communities,

Inc.

REIT

621,393

3,400

Boston

Properties,

Inc.

REIT

206,278

6,800

Brixmor

Property

Group,

Inc.

REIT

153,068

2,131

Camden

Property

Trust

REIT

218,747

6,800

CBRE

Group,

Inc.,

Class

A*

598,876

5,100

CoStar

Group,

Inc.*

398,667

3,400

Cousins

Properties,

Inc.

REIT

78,642

8,506

Crown

Castle,

Inc.

REIT

871,865

5,100

CubeSmart

REIT

215,781

6,800

Digital

Realty

Trust,

Inc.

REIT

988,312

986

EastGroup

Properties,

Inc.

REIT

162,867

1,700

EPR

Properties

REIT

69,768

1,000

Equinix,

Inc.

REIT

762,980

2,550

Equity

LifeStyle

Properties,

Inc.

REIT

160,064

8,500

Equity

Residential

REIT

552,755

1,396

Essex

Property

Trust,

Inc.

REIT

362,667

4,675

Extra

Space

Storage,

Inc.

REIT

676,800

1,700

Federal

Realty

Investment

Trust

REIT

171,615

2,975

First

Industrial

Realty

Trust,

Inc.

REIT

140,182

5,531

Gaming

and

Leisure

Properties,

Inc.

REIT

248,342

8,500

Healthcare

Realty

Trust,

Inc.

REIT

137,955

15,871

Healthpeak

Properties,

Inc.

REIT

315,833

2,131

Highwoods

Properties,

Inc.

REIT

55,342

15,733

Host

Hotels

&

Resorts,

Inc.

REIT

282,250

850

Howard

Hughes

Holdings,

Inc.*

56,355

13,608

Invitation

Homes,

Inc.

REIT

473,422

3,400

Iron

Mountain,

Inc.

REIT

274,346

1,108

Jones

Lang

LaSalle,

Inc.*

223,894

2,550

Kilroy

Realty

Corp.

REIT

85,502

13,626

Kimco

Realty

Corp.

REIT

263,799

425

Lamar

Advertising

Co.,

Class

A

REIT

50,197

13,139

Medical

Properties

Trust,

Inc.

REIT

70,425

2,550

Mid-America

Apartment

Communities,

Inc.

REIT

340,961

1,700

National

Storage

Affiliates

Trust

REIT

62,186

425

NET

Lease

Office

Properties

REIT

10,089

4,250

NNN

REIT,

Inc.

REIT

177,522

5,106

Omega

Healthcare

Investors,

Inc.

REIT

165,077

4,675

Park

Hotels

&

Resorts,

Inc.

REIT

74,145

20,782

Prologis,

Inc.

REIT

2,296,203

1,522

Public

Storage

REIT

416,769

3,400

Rayonier,

Inc.

REIT

102,068

18,351

Realty

Income

Corp.

REIT

973,704

3,831

Regency

Centers

Corp.

REIT

235,223

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Real

Estate

–

(continued)

4,675

Rexford

Industrial

Realty,

Inc.

REIT

$

212,058

2,125

SBA

Communications

Corp.

REIT

417,945

5,525

Simon

Property

Group,

Inc.

REIT

835,988

3,831

STAG

Industrial,

Inc.

REIT

134,315

2,125

Sun

Communities,

Inc.

REIT

250,729

6,800

UDR,

Inc.

REIT

262,616

8,925

Ventas,

Inc.

REIT

448,571

22,495

VICI

Properties,

Inc.

REIT

645,831

3,825

Vornado

Realty

Trust

REIT

93,789

4,675

W.P.

Carey,

Inc.

REIT

263,670

12,397

Welltower,

Inc.

REIT

1,285,197

16,164

Weyerhaeuser

Co.

REIT

485,405

1,275

Zillow

Group,

Inc.,

Class

A*

51,191

3,400

Zillow

Group,

Inc.,

Class

C*

139,230

21,464,963

Utilities

–

5.2%

5,950

AES

Corp.

(The)

128,461

5,531

Alliant

Energy

Corp.

284,791

5,950

Ameren

Corp.

436,551

11,481

American

Electric

Power

Co.,

Inc.

1,036,160

4,250

American

Water

Works

Co.,

Inc.

555,772

3,400

Atmos

Energy

Corp.

394,128

1,700

Avangrid,

Inc.

61,217

2,975

Brookfield

Renewable

Corp.,

Class

A

(a)

93,831

14,033

CenterPoint

Energy,

Inc.

428,147

850

Clearway

Energy,

Inc.,

Class

A

21,828

1,700

Clearway

Energy,

Inc.,

Class

C

47,600

6,375

CMS

Energy

Corp.

401,179

7,650

Consolidated

Edison,

Inc.

723,308

7,225

Constellation

Energy

Corp.

1,569,631

18,658

Dominion

Energy,

Inc.

1,006,039

4,675

DTE

Energy

Co.

544,778

16,964

Duke

Energy

Corp.

1,756,961

8,500

Edison

International

653,225

4,675

Entergy

Corp.

525,891

5,525

Essential

Utilities,

Inc.

208,458

5,100

Evergy,

Inc.

278,766

7,650

Eversource

Energy

453,110

22,064

Exelon

Corp.

828,503

12,325

FirstEnergy

Corp.

496,205

2,550

Hawaiian

Electric

Industries,

Inc.

28,024

1,275

IDACORP,

Inc.

121,724

2,125

National

Fuel

Gas

Co.

121,465

46,084

NextEra

Energy,

Inc.

3,687,642

9,350

NiSource,

Inc.

271,711

5,100

NRG

Energy,

Inc.

413,100

4,256

OGE

Energy

Corp.

154,493

44,583

PG&E

Corp.

826,569

2,550

Pinnacle

West

Capital

Corp.

201,093

16,533

PPL

Corp.

484,913

11,050

Public

Service

Enterprise

Group,

Inc.

837,148

14,033

Sempra

1,080,962

24,197

Southern

Co.

(The)

1,939,148

GOLDMAN

SACHS

MARKETBETA

®

 RUSSELL

1000

VALUE

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

**End

swaps

header**

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Utilities

–

(continued)

4,675

UGI

Corp.

$

119,025

5,944

Vistra

Corp.

588,932

7,225

WEC

Energy

Group,

Inc.

585,442

12,325

Xcel

Energy,

Inc.

683,421

25,079,352

TOTAL

COMMON

STOCKS

(Cost

$456,013,699)

481,585,887

Shares

Dividend

Rate

Value

aa

Investment

Company

–

0.2%

(b)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

963,971

5.180%

963,971

(Cost

$963,971)

TOTAL

INVESTMENTS

BEFORE

SECURITIES

LENDING

REINVESTMENT

VEHICLE

(Cost

$456,977,670)

482,549,858

Shares

Dividend

Rate

Value

a

Securities

Lending

Reinvestment

Vehicle

–

0.0%

(b)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

234,446

5.227%

$

234,446

(Cost

$234,446)

TOTAL

INVESTMENTS

–

99.9%

(Cost

$457,212,116)

$

482,784,304

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.1%

675,452

NET

ASSETS

–

100.0%

$

483,459,756

  a

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:

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

FUTURES

CONTRACTS

—

At

May

31,

2024,

the

Portfolio

had

the

following

futures

contracts:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

position

contracts:

E-Mini

Russell

1000

Index

13

06/21/24

$

1,132,430

$

7,829

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

99.8%

Communication

Services

–

9.6%

284,654

Alphabet,

Inc.,

Class

A*

$

49,102,815

235,027

Alphabet,

Inc.,

Class

C*

40,885,297

342,399

AT&T,

Inc.

6,238,510

4,603

Charter

Communications,

Inc.,

Class

A*

1,321,613

190,575

Comcast

Corp.,

Class

A

7,628,717

12,960

Electronic

Arts,

Inc.

1,722,125

11,359

Fox

Corp.,

Class

A

391,090

6,200

Fox

Corp.,

Class

B

198,028

6,998

Live

Nation

Entertainment,

Inc.*

655,992

105,504

Meta

Platforms,

Inc.,

Class

A

49,252,432

20,236

Netflix,

Inc.*

12,983,822

9,380

Omnicom

Group,

Inc.

871,965

28,418

Pinterest,

Inc.,

Class

A*

1,179,063

22,968

ROBLOX

Corp.,

Class

A*

772,184

30,419

Sirius

XM

Holdings,

Inc.

(a)

85,782

49,563

Snap,

Inc.,

Class

A*

744,436

6,569

Spotify

Technology

SA*

1,949,548

8,035

Take-Two

Interactive

Software,

Inc.*

1,288,493

24,733

T-Mobile

US,

Inc.

4,327,286

21,182

Trade

Desk,

Inc.

(The),

Class

A*

1,965,266

201,407

Verizon

Communications,

Inc.

8,287,898

87,546

Walt

Disney

Co.

(The)

9,096,905

106,986

Warner

Bros

Discovery,

Inc.*

881,565

5,956

Warner

Music

Group

Corp.,

Class

A

177,370

202,008,202

Consumer

Discretionary

–

9.8%

20,615

Airbnb,

Inc.,

Class

A*

2,987,732

431,182

Amazon.com,

Inc.*

76,077,752

13,020

Aptiv

PLC*

1,084,045

821

AutoZone,

Inc.*

2,274,121

9,315

Best

Buy

Co.,

Inc.

790,098

1,627

Booking

Holdings,

Inc.

6,144,121

7,559

CarMax,

Inc.*

531,095

47,695

Carnival

Corp.*

719,241

1,310

Chipotle

Mexican

Grill,

Inc.*

4,099,671

52,312

Coupang,

Inc.

(South

Korea)*

1,189,575

14,357

D.R.

Horton,

Inc.

2,121,965

5,774

Darden

Restaurants,

Inc.

868,352

1,685

Domino's

Pizza,

Inc.

856,957

14,707

DoorDash,

Inc.,

Class

A*

1,619,388

22,200

DraftKings,

Inc.,

Class

A*

779,886

24,766

eBay,

Inc.

1,342,813

6,357

Expedia

Group,

Inc.*

717,451

187,981

Ford

Motor

Co.

2,280,210

7,301

Garmin

Ltd.

1,196,269

55,156

General

Motors

Co.

2,481,468

6,588

Genuine

Parts

Co.

949,594

12,060

Hilton

Worldwide

Holdings,

Inc.

2,419,236

48,091

Home

Depot,

Inc.

(The)

16,104,233

17,522

Las

Vegas

Sands

Corp.

789,016

11,571

Lennar

Corp.,

Class

A

1,855,410

359

Lennar

Corp.,

Class

B

52,507

12,144

LKQ

Corp.

522,556

27,403

Lowe’s

Cos.,

Inc.

6,064,010

5,313

Lululemon

Athletica,

Inc.*

1,657,603

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Discretionary

–

(continued)

12,084

Marriott

International,

Inc.,

Class

A

$

2,793,458

34,928

McDonald's

Corp.

9,042,510

2,154

MercadoLibre,

Inc.

(Brazil)*

3,716,899

11,789

MGM

Resorts

International*

473,564

4,268

Mobileye

Global,

Inc.,

Class

A

(Israel)*

109,517

58,409

NIKE,

Inc.,

Class

B

5,551,775

140

NVR,

Inc.*

1,075,302

2,822

O'Reilly

Automotive,

Inc.*

2,718,320

10,093

PulteGroup,

Inc.

1,184,111

15,998

Ross

Stores,

Inc.

2,235,880

10,564

Royal

Caribbean

Cruises

Ltd.*

1,560,092

53,855

Starbucks

Corp.

4,320,248

131,634

Tesla,

Inc.*

23,441,383

55,019

TJX

Cos.,

Inc.

(The)

5,672,459

5,238

Tractor

Supply

Co.

1,494,349

2,327

Ulta

Beauty,

Inc.*

919,374

18,239

Yum

China

Holdings,

Inc.

(China)

652,227

13,411

Yum!

Brands,

Inc.

1,843,074

209,380,917

Consumer

Staples

–

6.0%

85,474

Altria

Group,

Inc.

3,953,173

24,286

Archer-Daniels-Midland

Co.

1,516,418

2,334

Brown-Forman

Corp.,

Class

A

106,897

14,639

Brown-Forman

Corp.,

Class

B

671,345

9,153

Campbell

Soup

Co.

406,210

11,685

Church

&

Dwight

Co.,

Inc.

1,250,412

5,918

Clorox

Co.

(The)

778,572

186,381

Coca-Cola

Co.

(The)

11,728,956

39,724

Colgate-Palmolive

Co.

3,692,743

22,749

Conagra

Brands,

Inc.

679,740

7,533

Constellation

Brands,

Inc.,

Class

A

1,884,983

21,185

Costco

Wholesale

Corp.

17,157,520

10,448

Dollar

General

Corp.

1,430,436

9,947

Dollar

Tree,

Inc.*

1,173,249

10,259

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

1,265,550

27,179

General

Mills,

Inc.

1,868,556

7,041

Hershey

Co.

(The)

1,392,921

13,840

Hormel

Foods

Corp.

428,763

4,932

J

M

Smucker

Co.

(The)

550,608

12,399

Kellanova

748,156

83,025

Kenvue,

Inc.

1,602,382

43,332

Keurig

Dr

Pepper,

Inc.

1,484,121

16,123

Kimberly-Clark

Corp.

2,149,196

37,753

Kraft

Heinz

Co.

(The)

1,335,324

33,966

Kroger

Co.

(The)

1,778,799

12,034

McCormick

&

Co.,

Inc.

869,095

8,358

Molson

Coors

Beverage

Co.,

Class

B

458,102

65,059

Mondelez

International,

Inc.,

Class

A

4,458,493

24,161

Monster

Beverage

Corp.*

1,254,439

65,953

PepsiCo,

Inc.

11,403,274

74,281

Philip

Morris

International,

Inc.

7,530,608

112,818

Procter &

Gamble

Co.

(The)

18,563,074

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Staples

–

(continued)

24,251

Sysco

Corp.

$

1,765,958

22,078

Target

Corp.

3,447,700

13,464

Tyson

Foods,

Inc.,

Class

A

770,814

34,119

Walgreens

Boots

Alliance,

Inc.

553,410

204,006

Walmart,

Inc.

13,415,435

125,525,432

Energy

–

3.8%

48,459

Baker

Hughes

Co.

1,622,407

11,116

Cheniere

Energy,

Inc.

1,753,994

82,350

Chevron

Corp.

13,365,405

56,324

ConocoPhillips

6,560,619

35,693

Coterra

Energy,

Inc.

1,017,964

30,508

Devon

Energy

Corp.

1,497,333

8,152

Diamondback

Energy,

Inc.

1,624,367

27,954

EOG

Resources,

Inc.

3,481,671

217,701

Exxon

Mobil

Corp.

25,527,619

43,075

Halliburton

Co.

1,580,852

13,270

Hess

Corp.

2,044,907

93,846

Kinder

Morgan,

Inc.

1,829,059

17,297

Marathon

Petroleum

Corp.

3,054,823

33,430

Occidental

Petroleum

Corp.

2,089,375

27,833

ONEOK,

Inc.

2,254,473

20,460

Phillips

66

2,907,571

68,167

Schlumberger

NV

3,128,184

15,851

Valero

Energy

Corp.

2,490,826

58,272

Williams

Cos.,

Inc.

(The)

2,418,871

80,250,320

Financials

–

12.9%

24,882

Aflac,

Inc.

2,236,145

12,526

Allstate

Corp.

(The)

2,098,356

27,529

American

Express

Co.

6,606,960

32,574

American

International

Group,

Inc.

2,567,483

4,794

Ameriprise

Financial,

Inc.

2,093,108

9,393

Aon

PLC,

Class

A

2,645,445

19,381

Apollo

Global

Management,

Inc.

2,251,297

17,092

Arch

Capital

Group

Ltd.*

1,754,152

8,335

Ares

Management

Corp.,

Class

A

1,168,317

10,146

Arthur

J

Gallagher

&

Co.

2,570,286

331,922

Bank

of

America

Corp.

13,273,561

36,067

Bank

of

New

York

Mellon

Corp.

(The)

2,149,954

61,885

Berkshire

Hathaway,

Inc.,

Class

B*

25,645,144

7,097

BlackRock,

Inc.

5,479,097

33,643

Blackstone,

Inc.

4,053,982

26,379

Block,

Inc.*

1,690,366

18,066

Capital

One

Financial

Corp.

2,486,424

5,037

Cboe

Global

Markets,

Inc.

871,351

66,131

Charles

Schwab

Corp.

(The)

4,846,080

19,369

Chubb

Ltd.

5,245,513

7,407

Cincinnati

Financial

Corp.

870,915

90,589

Citigroup,

Inc.

5,644,601

22,239

Citizens

Financial

Group,

Inc.

784,814

17,176

CME

Group,

Inc.

3,486,384

8,197

Coinbase

Global,

Inc.,

Class

A*

1,851,866

3,339

Corpay,

Inc.*

893,750

11,926

Discover

Financial

Services

1,462,843

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Financials

–

(continued)

1,593

Everest

Group

Ltd.

$

622,751

12,402

Fidelity

National

Financial,

Inc.

624,565

27,551

Fidelity

National

Information

Services,

Inc.

2,090,570

32,516

Fifth

Third

Bancorp

1,216,749

28,136

Fiserv,

Inc.*

4,213,647

15,115

Franklin

Resources,

Inc.

356,714

12,283

Global

Payments,

Inc.

1,251,024

15,531

Goldman

Sachs

Group,

Inc.

(The)

(b)

7,090,212

14,184

Hartford

Financial

Services

Group,

Inc.

(The)

1,467,335

68,847

Huntington

Bancshares,

Inc.

958,350

4,862

Interactive

Brokers

Group,

Inc.,

Class

A

611,251

27,121

Intercontinental

Exchange,

Inc.

3,631,502

138,915

JPMorgan

Chase &

Co.

28,148,346

44,663

KeyCorp

641,807

32,042

KKR

&

Co.,

Inc.

3,295,199

8,788

Loews

Corp.

674,918

7,917

M&T

Bank

Corp.

1,200,217

631

Markel

Group,

Inc.*

1,035,843

23,654

Marsh

&

McLennan

Cos.,

Inc.

4,910,097

40,167

Mastercard,

Inc.,

Class

A

17,957,461

28,991

MetLife,

Inc.

2,098,079

7,593

Moody's

Corp.

3,014,345

60,655

Morgan

Stanley

5,934,485

3,716

MSCI,

Inc.

1,840,089

16,349

Nasdaq,

Inc.

965,081

9,783

Northern

Trust

Corp.

824,120

52,550

PayPal

Holdings,

Inc.*

3,310,125

19,070

PNC

Financial

Services

Group,

Inc.

(The)

3,001,427

11,280

Principal

Financial

Group,

Inc.

925,411

27,967

Progressive

Corp.

(The)

5,906,071

17,470

Prudential

Financial,

Inc.

2,102,515

9,031

Raymond

James

Financial,

Inc.

1,108,555

43,943

Regions

Financial

Corp.

850,297

6,215

Rocket

Cos.,

Inc.,

Class

A*

86,388

15,037

S&P

Global,

Inc.

6,428,468

14,417

State

Street

Corp.

1,089,781

19,385

Synchrony

Financial

849,063

10,566

T.

Rowe

Price

Group,

Inc.

1,244,992

11,023

Travelers

Cos.,

Inc.

(The)

2,377,661

63,652

Truist

Financial

Corp.

2,402,863

70,852

US

Bancorp

2,873,049

75,702

Visa,

Inc.,

Class

A

20,625,767

9,697

W

R

Berkley

Corp.

785,748

171,298

Wells

Fargo &

Co.

10,264,176

4,943

Willis

Towers

Watson

PLC

1,261,898

270,897,206

Health

Care

–

12.0%

82,904

Abbott

Laboratories

8,471,960

84,538

AbbVie,

Inc.

13,630,907

14,122

Agilent

Technologies,

Inc.

1,841,650

3,431

Align

Technology,

Inc.*

882,488

5,938

Alnylam

Pharmaceuticals,

Inc.*

881,377

25,516

Amgen,

Inc.

7,804,069

31,210

Avantor,

Inc.*

751,537

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

24,160

Baxter

International,

Inc.

$

823,614

13,892

Becton

Dickinson

&

Co.

3,222,527

6,893

Biogen,

Inc.*

1,550,511

8,874

BioMarin

Pharmaceutical,

Inc.*

666,171

69,878

Boston

Scientific

Corp.*

5,280,680

97,442

Bristol-Myers

Squibb

Co.

4,003,892

11,650

Cardinal

Health,

Inc.

1,156,495

8,063

Cencora,

Inc.

1,826,834

25,533

Centene

Corp.*

1,827,907

14,089

Cigna

Group

(The)

4,855,351

9,466

Cooper

Cos.,

Inc.

(The)

892,738

61,347

CVS

Health

Corp.

3,656,281

31,571

Danaher

Corp.

8,107,433

18,505

Dexcom,

Inc.*

2,197,839

28,805

Edwards

Lifesciences

Corp.*

2,502,866

11,319

Elevance

Health,

Inc.

6,095,055

40,499

Eli

Lilly

&

Co.

33,222,950

17,456

GE

HealthCare

Technologies,

Inc.

1,361,568

59,680

Gilead

Sciences,

Inc.

3,835,634

9,397

HCA

Healthcare,

Inc.

3,192,631

11,163

Hologic,

Inc.*

823,606

5,775

Humana,

Inc.

2,068,143

3,943

IDEXX

Laboratories,

Inc.*

1,959,474

7,567

Illumina,

Inc.*

789,087

8,924

Incyte

Corp.*

515,718

16,690

Intuitive

Surgical,

Inc.*

6,711,383

8,533

IQVIA

Holdings,

Inc.*

1,869,495

115,341

Johnson &

Johnson

16,917,064

4,059

Labcorp

Holdings,

Inc.

791,140

6,290

McKesson

Corp.

3,582,721

63,731

Medtronic

PLC

5,185,791

121,518

Merck &

Co.,

Inc.

15,255,370

1,012

Mettler-Toledo

International,

Inc.*

1,420,939

15,872

Moderna,

Inc.*

2,262,554

270,463

Pfizer,

Inc.

7,751,470

5,335

Quest

Diagnostics,

Inc.

757,410

4,949

Regeneron

Pharmaceuticals,

Inc.*

4,850,812

6,949

ResMed,

Inc.

1,433,787

17,990

Royalty

Pharma

PLC,

Class

A

493,106

4,713

STERIS

PLC

1,050,433

15,153

Stryker

Corp.

5,168,537

18,462

Thermo

Fisher

Scientific,

Inc.

10,486,047

44,435

UnitedHealth

Group,

Inc.

22,011,766

7,047

Veeva

Systems,

Inc.,

Class

A*

1,227,940

12,326

Vertex

Pharmaceuticals,

Inc.*

5,612,521

57,305

Viatris,

Inc.

607,433

2,816

Waters

Corp.*

869,862

3,536

West

Pharmaceutical

Services,

Inc.

1,171,866

9,995

Zimmer

Biomet

Holdings,

Inc.

1,150,924

22,132

Zoetis,

Inc.

3,752,702

253,092,066

Industrials

–

8.1%

26,438

3M

Co.

2,647,501

5,769

A

O

Smith

Corp.

482,519

11,013

AMETEK,

Inc.

1,867,585

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

19,794

Automatic

Data

Processing,

Inc.

$

4,847,946

26,709

Boeing

Co.

(The)*

4,743,785

5,613

Broadridge

Financial

Solutions,

Inc.

1,126,922

38,149

Carrier

Global

Corp.

2,410,635

24,367

Caterpillar,

Inc.

8,248,717

4,140

Cintas

Corp.

2,806,796

40,608

Copart,

Inc.*

2,154,660

93,604

CSX

Corp.

3,159,135

6,533

Cummins,

Inc.

1,840,542

12,278

Deere

&

Co.

4,601,303

30,698

Delta

Air

Lines,

Inc.

1,566,212

6,667

Dover

Corp.

1,225,528

18,999

Eaton

Corp.

PLC

6,323,817

27,298

Emerson

Electric

Co.

3,061,744

5,825

Equifax,

Inc.

1,347,847

6,851

Expeditors

International

of

Washington,

Inc.

828,286

27,320

Fastenal

Co.

1,802,574

10,835

FedEx

Corp.

2,751,657

9,270

Ferguson

PLC

1,907,210

16,814

Fortive

Corp.

1,251,634

10,815

General

Dynamics

Corp.

3,242,013

52,207

General

Electric

Co.

8,621,464

31,224

Honeywell

International,

Inc.

6,313,181

14,525

Illinois

Tool

Works,

Inc.

3,525,944

19,350

Ingersoll

Rand,

Inc.

1,800,517

3,936

J.B.

Hunt

Transport

Services,

Inc.

632,712

32,645

Johnson

Controls

International

PLC

2,347,502

9,050

L3Harris

Technologies,

Inc.

2,034,711

6,536

Leidos

Holdings,

Inc.

961,119

11,521

Lockheed

Martin

Corp.

5,418,787

10,399

Masco

Corp.

727,098

10,810

Norfolk

Southern

Corp.

2,430,088

7,088

Northrop

Grumman

Corp.

3,195,058

9,142

Old

Dominion

Freight

Line,

Inc.

1,602,135

19,796

Otis

Worldwide

Corp.

1,963,763

24,705

PACCAR,

Inc.

2,655,787

6,109

Parker-Hannifin

Corp.

3,247,056

15,412

Paychex,

Inc.

1,851,906

6,879

Quanta

Services,

Inc.

1,898,191

9,884

Republic

Services,

Inc.

1,830,418

5,492

Rockwell

Automation,

Inc.

1,414,355

14,214

Rollins,

Inc.

649,438

63,559

RTX

Corp.

6,852,296

2,491

Snap-on,

Inc.

679,694

28,428

Southwest

Airlines

Co.

763,008

10,419

SS&C

Technologies

Holdings,

Inc.

646,499

7,255

Stanley

Black

&

Decker,

Inc.

632,418

9,082

Textron,

Inc.

795,674

10,907

Trane

Technologies

PLC

3,571,606

2,472

TransDigm

Group,

Inc.

3,320,465

9,243

TransUnion

664,757

95,815

Uber

Technologies,

Inc.*

6,185,816

29,170

Union

Pacific

Corp.

6,791,359

15,648

United

Airlines

Holdings,

Inc.*

829,188

34,722

United

Parcel

Service,

Inc.,

Class

B

4,823,927

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

3,213

United

Rentals,

Inc.

$

2,150,814

6,909

Verisk

Analytics,

Inc.

1,746,457

1,899

W.W.

Grainger,

Inc.

1,749,853

19,456

Waste

Management,

Inc.

4,099,963

8,528

Westinghouse

Air

Brake

Technologies

Corp.

1,443,193

11,379

Xylem,

Inc.

1,604,667

170,719,452

Information

Technology

–

31.1%

30,113

Accenture

PLC,

Class

A

8,500,599

21,788

Adobe,

Inc.*

9,690,431

76,602

Advanced

Micro

Devices,

Inc.*

12,784,874

7,136

Akamai

Technologies,

Inc.*

658,225

5,513

Amdocs

Ltd.

435,527

28,286

Amphenol

Corp.,

Class

A

3,744,218

24,151

Analog

Devices,

Inc.

5,663,168

4,140

ANSYS,

Inc.*

1,314,243

709,602

Apple,

Inc.

136,420,985

40,142

Applied

Materials,

Inc.

8,633,741

11,319

Arista

Networks,

Inc.*

3,369,100

4,577

ARM

Holdings

PLC

ADR*

551,620

7,411

Atlassian

Corp.,

Class

A*

1,162,489

10,236

Autodesk,

Inc.*

2,063,578

21,992

Broadcom,

Inc.

29,217,472

12,933

Cadence

Design

Systems,

Inc.*

3,702,847

6,443

CDW

Corp.

1,440,784

195,250

Cisco

Systems,

Inc.

9,079,125

13,692

Cloudflare,

Inc.,

Class

A*

926,811

24,291

Cognizant

Technology

Solutions

Corp.,

Class

A

1,606,850

36,810

Corning,

Inc.

1,371,541

10,599

Crowdstrike

Holdings,

Inc.,

Class

A*

3,324,588

12,509

Datadog,

Inc.,

Class

A*

1,378,242

14,206

Dell

Technologies,

Inc.,

Class

C

1,982,589

6,345

Enphase

Energy,

Inc.*

811,526

2,692

EPAM

Systems,

Inc.*

478,988

1,172

Fair

Isaac

Corp.*

1,511,798

29,367

Fortinet,

Inc.*

1,742,050

3,662

Gartner,

Inc.*

1,536,832

29,678

Gen

Digital,

Inc.

736,905

3,635

GLOBALFOUNDRIES,

Inc.*

178,115

61,658

Hewlett

Packard

Enterprise

Co.

1,088,264

47,178

HP,

Inc.

1,721,997

2,324

HubSpot,

Inc.*

1,420,080

199,790

Intel

Corp.

6,163,521

43,481

International

Business

Machines

Corp.

7,254,805

13,045

Intuit,

Inc.

7,519,660

8,337

Keysight

Technologies,

Inc.*

1,154,508

6,561

KLA

Corp.

4,983,276

6,270

Lam

Research

Corp.

5,846,399

41,034

Marvell

Technology,

Inc.

2,823,550

25,613

Microchip

Technology,

Inc.

2,490,352

52,255

Micron

Technology,

Inc.

6,531,875

351,273

Microsoft

Corp.

145,823,960

3,340

MongoDB,

Inc.*

788,440

8,011

Motorola

Solutions,

Inc.

2,923,294

9,839

NetApp,

Inc.

1,184,911

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Information

Technology

–

(continued)

113,631

NVIDIA

Corp.

$

124,577,074

7,633

Okta,

Inc.*

676,894

20,613

ON

Semiconductor

Corp.*

1,505,574

74,457

Oracle

Corp.

8,725,616

94,383

Palantir

Technologies,

Inc.,

Class

A*

2,046,223

15,320

Palo

Alto

Networks,

Inc.*

4,518,021

53,304

QUALCOMM,

Inc.

10,876,681

5,095

Roper

Technologies,

Inc.

2,714,412

45,057

Salesforce,

Inc.

10,563,163

9,236

Seagate

Technology

Holdings

PLC

861,165

9,744

ServiceNow,

Inc.*

6,401,126

7,606

Skyworks

Solutions,

Inc.

704,772

15,122

Snowflake,

Inc.,

Class

A*

2,059,314

2,392

Super

Micro

Computer,

Inc.*

1,876,548

7,244

Synopsys,

Inc.*

4,062,435

14,768

TE

Connectivity

Ltd.

2,210,770

7,408

Teradyne,

Inc.

1,044,084

43,297

Texas

Instruments,

Inc.

8,443,348

11,824

Trimble,

Inc.*

658,360

4,173

VeriSign,

Inc.*

727,437

15,304

Western

Digital

Corp.*

1,152,238

9,932

Workday,

Inc.,

Class

A*

2,100,121

2,448

Zebra

Technologies

Corp.,

Class

A*

764,608

12,162

Zoom

Video

Communications,

Inc.,

Class

A*

746,017

4,213

Zscaler,

Inc.*

716,041

656,470,795

Materials

–

2.2%

10,487

Air

Products

and

Chemicals,

Inc.

2,796,883

5,606

Albemarle

Corp.

687,240

69,164

Amcor

PLC

703,398

14,839

Ball

Corp.

1,030,272

5,314

Celanese

Corp.

807,941

33,607

Corteva,

Inc.

1,879,976

33,148

CRH

PLC

2,710,180

33,860

Dow,

Inc.

1,951,352

18,118

DuPont

de

Nemours,

Inc.

1,488,575

12,090

Ecolab,

Inc.

2,807,298

68,370

Freeport-McMoRan,

Inc.

3,605,150

12,207

International

Flavors

&

Fragrances,

Inc.

1,174,069

16,456

International

Paper

Co.

742,001

23,420

Linde

PLC

10,199,878

12,199

LyondellBasell

Industries

NV,

Class

A

1,212,825

2,955

Martin

Marietta

Materials,

Inc.

1,690,496

55,160

Newmont

Corp.

2,313,410

11,509

Nucor

Corp.

1,943,295

4,249

Packaging

Corp.

of

America

779,649

11,259

PPG

Industries,

Inc.

1,479,545

11,340

Sherwin-Williams

Co.

(The)

3,445,092

4,126

Southern

Copper

Corp.

(Mexico)

489,467

6,353

Vulcan

Materials

Co.

1,624,907

47,562,899

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Real

Estate

–

2.0%

7,453

Alexandria

Real

Estate

Equities,

Inc.

REIT

$

886,907

22,303

American

Tower

Corp.

REIT

4,365,589

6,789

AvalonBay

Communities,

Inc.

REIT

1,308,105

14,821

CBRE

Group,

Inc.,

Class

A*

1,305,285

19,416

CoStar

Group,

Inc.*

1,517,749

20,679

Crown

Castle,

Inc.

REIT

2,119,597

14,938

Digital

Realty

Trust,

Inc.

REIT

2,171,089

4,472

Equinix,

Inc.

REIT

3,412,047

16,366

Equity

Residential

REIT

1,064,281

3,050

Essex

Property

Trust,

Inc.

REIT

792,360

10,007

Extra

Space

Storage,

Inc.

REIT

1,448,713

33,803

Healthpeak

Properties,

Inc.

REIT

672,680

33,683

Host

Hotels

&

Resorts,

Inc.

REIT

604,273

27,399

Invitation

Homes,

Inc.

REIT

953,211

13,857

Iron

Mountain,

Inc.

REIT

1,118,121

5,561

Mid-America

Apartment

Communities,

Inc.

REIT

743,561

44,153

Prologis,

Inc.

REIT

4,878,465

7,571

Public

Storage

REIT

2,073,167

41,197

Realty

Income

Corp.

REIT

2,185,913

5,129

SBA

Communications

Corp.

REIT

1,008,772

15,517

Simon

Property

Group,

Inc.

REIT

2,347,877

19,220

Ventas,

Inc.

REIT

965,997

49,472

VICI

Properties,

Inc.

REIT

1,420,341

28,307

Welltower,

Inc.

REIT

2,934,587

35,021

Weyerhaeuser

Co.

REIT

1,051,681

43,350,368

Utilities

–

2.3%

12,033

Alliant

Energy

Corp.

619,579

12,526

Ameren

Corp.

919,033

25,192

American

Electric

Power

Co.,

Inc.

2,273,578

9,315

American

Water

Works

Co.,

Inc.

1,218,123

7,189

Atmos

Energy

Corp.

833,349

3,393

Avangrid,

Inc.

122,182

30,214

CenterPoint

Energy,

Inc.

921,829

14,230

CMS

Energy

Corp.

895,494

16,523

Consolidated

Edison,

Inc.

1,562,250

15,153

Constellation

Energy

Corp.

3,291,989

40,025

Dominion

Energy,

Inc.

2,158,148

9,818

DTE

Energy

Co.

1,144,091

36,890

Duke

Energy

Corp.

3,820,697

18,335

Edison

International

1,409,045

10,092

Entergy

Corp.

1,135,249

10,864

Evergy,

Inc.

593,826

16,678

Eversource

Energy

987,838

47,563

Exelon

Corp.

1,785,991

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Utilities

–

(continued)

26,052

FirstEnergy

Corp.

$

1,048,853

96,884

NextEra

Energy,

Inc.

7,752,658

21,393

NiSource,

Inc.

621,681

97,556

PG&E

Corp.

1,808,688

35,312

PPL

Corp.

1,035,701

23,892

Public

Service

Enterprise

Group,

Inc.

1,810,058

30,148

Sempra

2,322,300

52,118

Southern

Co.

(The)

4,176,736

15,096

WEC

Energy

Group,

Inc.

1,223,229

26,358

Xcel

Energy,

Inc.

1,461,551

48,953,746

TOTAL

COMMON

STOCKS

(Cost

$1,763,199,958)

2,108,211,403

Shares

Dividend

Rate

Value

aa

Investment

Company

–

0.1%

(b)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

2,468,780

5.180%

2,468,780

(Cost

$2,468,780)

TOTAL

INVESTMENTS

BEFORE

SECURITIES

LENDING

REINVESTMENT

VEHICLE

(Cost

$1,765,668,738)

2,110,680,183

a

Securities

Lending

Reinvestment

Vehicle

–

0.0%

(b)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

80,752

5.227%

80,752

(Cost

$80,752)

TOTAL

INVESTMENTS

–

99.9%

(Cost

$1,765,749,490)

$

2,110,760,935

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.1%

2,329,473

NET

ASSETS

–

100.0%

$

2,113,090,408

  a

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:

ADR

—

American

Depositary

Receipt

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

GOLDMAN

SACHS

MARKETBETA

®

U.S.

EQUITY

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

**End

swaps

header**

FUTURES

CONTRACTS

—

At

May

31,

2024,

the

Portfolio

had

the

following

futures

contracts:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

position

contracts:

S&P

500

E-Mini

Index

4

06/21/24

$

1,059,100

$

12,559

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

May

31,

2024

(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

1

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

1

—

Unadjusted

quoted

prices

in

active

markets

that

are

accessible

at

the

measurement

date

for

identical,

unrestricted

assets

or

liabilities;

Level

2

—

Quoted

prices

in

markets

that

are

not

active

or

financial

instruments

for

which

significant

inputs

are

observable

(including,

but

not

limited

to,

quoted

prices

for

similar

investments,

interest

rates,

foreign

exchange

rates,

volatility

and

credit

spreads),

either

directly

or

indirectly;

Level

3

—

Prices

or

valuations

that

require

significant

unobservable

inputs

(including

GSAM’s

assumptions

in

determining

fair

value

measurement).

The

Board

of

Trustees

(“Trustees”)

has

approved

Valuation

Procedures

that

govern

the

valuation

of

the

portfolio

investments

held

by

the

Funds,

including

investments

for

which

market

quotations

are

not

readily

available.

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.

Level

1

and

Level

2

Fair

Value

Investments

—

The

valuation

techniques

and

significant

inputs

used

in

determining

the

fair

values

for

investments

classified

as

Level

1

and

Level

2

are

as

follows:

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

1

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.

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

or

receivable

for

collateral

on

certain

derivatives

contracts.

Non-cash

collateral

pledged

by

a

Fund,

if

any,

is

noted

in

the

Schedules

of

Investments.

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

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

1

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.

i.

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.

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

NAV

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

1

of

the

fair

value

hierarchy.

To

the

extent

that

underlying

ETFs

are

actively

traded,

they

are

classified

as

Level

1

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.

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

Valuation

Procedures

approved

by

the

Trustees.

GSAM,

consistent

with

its

procedures

and

applicable

regulatory

guidance,

may

make

an

adjustment

to

the

most

recent

valuation

prices

of

either

domestic

or

foreign

securities

in

light

of

significant

events

to

reflect

what

it

believes

to

be

the

fair

value

of

the

securities

at

the

time

of

determining

a

Fund’s

NAV.

To

the

extent

investments

are

valued

using

single

source

broker

quotations

obtained

directly

from

the

broker

or

passed

through

from

third

party

pricing

vendors,

such

investments

are

classified

as

Level

3

investments.

Fair

Value

Hierarchy

—

The

following

is

a

summary

of

the

Funds’

investments

classified

in

the

fair

value

hierarchy

as

of

May

31,

2024:

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

MarketBeta

®

Emerging

Markets

Equity

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Africa

$

2,831,204

$

—

$

—

Asia

95,063,228

2,304,116

—

Europe

987,069

—

—

North

America

2,906,622

—

—

Oceania

14,089

—

—

South

America

4,836,248

1,466,273

—

Exchange-Traded

Fund

295,693

—

—

Investment

Company

953,141

—

—

Securities

Lending

Reinvestment

Vehicle

430,908

—

—

Total

$

108,318,202

$

3,770,389

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Liabilities

Futures

Contracts

(b)

$

(1,399)

$

$

—

$

—

€

1.00

€

1.00

€

1.00

MarketBeta

®

International

Equity

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Africa

$

1,758,601

$

—

$

—

Asia

243,491,399

—

—

Europe

427,578,784

2,864,629

—

North

America

70,459,571

795,434

—

Oceania

63,901,438

—

—

South

America

655,664

—

—

Investment

Company

4,771,320

—

—

Securities

Lending

Reinvestment

Vehicle

2,082,863

—

—

Total

$

814,699,640

$

3,660,063

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Assets

Futures

Contracts

(b)

$

123,922

$

—

$

$

—

1.00

€

1.00

€

1.00

MarketBeta

®

Russell

1000

Growth

Equity

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Asia

$

631,422

$

—

$

—

Europe

171

—

—

North

America

495,414,422

275,370

—

South

America

459,552

—

—

Investment

Company

578,437

—

—

Securities

Lending

Reinvestment

Vehicle

13,787

—

—

Total

$

497,097,791

$

275,370

$

—

€

1.00

€

1.00

€

1.00

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

Derivative

Type

Assets

Futures

Contracts

(b)

$

16,653

$

$

—

$

$

—

€

1.00

€

1.00

€

1.00

MarketBeta

®

Russell

1000

Value

Equity

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Europe

$

256,349

$

—

$

—

North

America

481,008,972

—

—

South

America

320,566

—

—

Investment

Company

963,971

—

—

Securities

Lending

Reinvestment

Vehicle

234,446

—

—

Total

$

482,784,304

$

—

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Assets

Futures

Contracts

(b)

$

7,829

$

—

$

$

—

1.00

€

1.00

€

1.00

MarketBeta

®

U.S.

Equity

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Asia

$

1,951,319

$

—

$

—

North

America

2,102,543,185

—

—

South

America

3,716,899

—

—

Investment

Company

2,468,780

—

—

Securities

Lending

Reinvestment

Vehicle

80,752

—

—

Total

$

2,110,760,935

$

—

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Assets

Futures

Contracts

(b)

$

12,559

$

—

$

$

—

1.00

€

1.00

€

1.00

(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.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

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

1)

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

November

30,

2023,

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:

Calculation

Methodology

Risk

—

The

Index

relies

on

various

sources

of

information

to

assess

the

criteria

of

issuers

included

in

the

Index,

(or

a

Reference

Index

if

applicable)

including

fundamental

information

that

may

be

based

on

assumptions

and

estimates.

Neither

the

Fund,

the

Investment

Adviser

nor

the

Index

Provider

can

offer

assurances

that

the

Index’s

calculation

methodology

or

sources

of

information

will

provide

a

correct

valuation

of

securities,

nor

can

they

guarantee

the

availability

or

timeliness

of

the

production

of

the

Index.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Depositary

Receipts

Risk

—

Foreign

securities

may

trade

in

the

form

of

depositary

receipts,

which

include

American

Depositary

Receipts

(“ADRs”)

and

Global

Depositary

Receipts

(“GDRs”)

(collectively

“Depositary

Receipts”).

To

the

extent

the

Fund

acquires

Depositary

Receipts

through

banks

which

do

not

have

a

contractual

relationship

with

the

foreign

issuer

of

the

security

underlying

the

Depositary

Receipts

to

issue

and

service

such

unsponsored

Depositary

Receipts,

there

may

be

an

increased

possibility

that

the

Fund

would

not

become

aware

of

and

be

able

to

respond

to

corporate

actions

such

as

stock

splits

or

rights

offerings

involving

the

foreign

issuer

in

a

timely

manner.

In

addition,

the

lack

of

information

may

result

in

inefficiencies

in

the

valuation

of

such

instruments.

Investment

in

Depositary

Receipts

does

not

eliminate

all

the

risks

inherent

in

investing

in

securities

of

non-U.S.

issuers.

The

market

value

of

Depositary

Receipts

is

dependent

upon

the

market

value

of

the

underlying

securities

and

fluctuations

in

the

relative

value

of

the

currencies

in

which

the

Depositary

Receipts

and

the

underlying

securities

are

quoted.

The

issuers

of

Depositary

Receipts

may

discontinue

issuing

new

Depositary

Receipts

and

withdraw

existing

Depositary

Receipts

at

any

time,

which

may

result

in

costs

and

delays

in

the

distribution

of

the

underlying

assets

to

the

Fund

and

may

negatively

impact

the

Fund’s

performance.

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

the

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.

Geographic

Risk

—

If

the

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

—

Solactive

AG

(the

“Index

Provider”)

constructs

each

Fund’s

Index

in

accordance

with

a

rules-based

methodology.

A

Fund

will

be

negatively

affected

by

general

declines

in

the

securities

and

asset

classes

represented

in

its

Index.

In

addition,

because

the

Funds

are

not

“actively”

managed,

unless

a

specific

security

is

removed

from

an

Index,

a

Fund

generally

would

not

sell

a

security

because

the

security’s

issuer

was

in

financial

trouble.

Market

disruptions

and

regulatory

restrictions

could

have

an

adverse

effect

on

a

Fund’s

ability

to

adjust

its

exposure

to

the

required

levels

in

order

to

track

the

Index.

A

Fund

also

does

not

attempt

to

take

defensive

positions

under

any

market

conditions,

including

declining

markets.

Therefore,

a

Fund’s

performance

could

be

lower

than

funds

that

may

actively

shift

their

portfolio

assets

to

take

advantage

of

market

opportunities

or

to

lessen

the

impact

of

a

market

decline

or

a

decline

in

the

value

of

one

or

more

issuers.

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.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

MarketBeta

®

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Industry

Concentration

Risk

—

In

following

its

methodology,

an

Index

from

time

to

time

may

be

concentrated

to

a

significant

degree

in

securities

of

issuers

located

in

a

single

industry

or

group

of

industries.

To

the

extent

that

an

Index

concentrates

in

the

securities

of

issuers

in

a

particular

industry

or

group

of

industries,

the

Fund

also

will

concentrate

its

investments

to

approximately

the

same

extent.

By

concentrating

its

investments

in

an

industry

or

group

of

industries,

the

applicable

Fund

may

face

more

risks

than

if

it

were

diversified

broadly

over

numerous

industries

or

groups

of

industries.

If

an

Index

is

not

concentrated

in

a

particular

industry

or

group

of

industries,

the

applicable

Fund

will

not

concentrate

in

a

particular

industry

or

group

of

industries.

Large

Shareholder

Transactions

Risk

—

Certain

shareholders,

including

other

funds

advised

by

the

Investment

Adviser,

may

from

time

to

time

own

a

substantial

amount

of

the

Fund’s

Shares.

In

addition,

a

third

party

investor,

the

Investment

Adviser

or

an

affiliate

of

the

Investment

Adviser,

an

authorized

participant,

a

lead

market

maker,

or

another

entity

(i.e.,

a

seed

investor)

may

invest

in

the

Fund

and

hold

its

investment

solely

to

facilitate

commencement

of

the

Fund

or

to

facilitate

the

Fund’s

achieving

a

specificed

size

or

scale.

Any

such

investment

may

be

held

for

a

limited

period

of

time.

There

can

be

no

assurance

that

any

large

shareholder

would

not

redeem

its

investment,

that

the

size

of

the

Fund

would

be

maintained

at

such

levels

or

that

the

Fund

would

continue

to

meet

applicable

listing

requirements.

Redemptions

by

large

shareholders

could

have

a

significant

negative

impact

on

the

Fund,

including

on

the

Fund’s

liquidity.

In

addition,

transactions

by

large

shareholders

may

account

for

a

large

percentage

of

the

trading

volume

on

Cboe

BZX

Exchange,

Inc.

and

may,

therefore,

have

a

material

upward

or

downward

effect

on

the

market

price

of

the

Shares.

Market

and

Credit

Risks

—

In

the

normal

course

of

business,

a

Fund

trades

financial

instruments

and

enters

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk).

The

value

of

the

securities

in

which

a

Fund

invests

may

go

up

or

down

in

response

to

the

prospects

of

individual

companies,

particular

sectors

or

governments

and/or

general

economic

conditions

throughout

the

world

due

to

increasingly

interconnected

global

economies

and

financial

markets.

Events

such

as

war,

acts

of

terrorism,

social

unrest,

natural

disasters,

the

spread

of

infectious

illness

or

other

public

health

threats

could

also

significantly

impact

a

Fund

and

its

investments.

Additionally,

a

Fund

may

also

be

exposed

to

credit

risk

in

the

event

that

an

issuer

or

guarantor

fails

to

perform

or

that

an

institution

or

entity

with

which

the

Fund

has

unsettled

or

open

transactions

defaults.

Market

Trading

Risk

—

Each

Fund

faces

numerous

market

trading

risks,

including

disruptions

to

creations

and

redemptions,

the

existence

of

extreme

market

volatility

or

potential

lack

of

an

active

trading

market

for

Shares.

If

a

shareholder

purchases

Shares

at

a

time

when

the

market

price

is

at

a

premium

to

the

NAV

or

sells

Shares

at

a

time

when

the

market

price

is

at

a

discount

to

the

NAV,

the

shareholder

may

sustain

losses.

The

Investment

Adviser

cannot

predict

whether

Shares

will

trade

below,

at

or

above

their

NAV.

Price

differences

may

be

due,

in

large

part,

to

the

fact

that

supply

and

demand

forces

at

work

in

the

secondary

trading

market

for

Shares

will

be

closely

related

to,

but

not

identical

to,

the

same

forces

influencing

the

prices

of

the

securities

of

a

Fund’s

Index

trading

individually

or

in

the

aggregate

at

any

point

in

time.

Mid-Cap

Risk

—

Investments

in

mid-capitalization

companies

involve

greater

risks

than

those

associated

with

larger,

more

established

companies.

These

securities

may

be

subject

to

more

abrupt

or

erratic

price

movements

and

may

lack

sufficient

market

liquidity,

and

these

issuers

often

face

greater

business

risks.

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.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)