Goldman Sachs ETF Trust (GPRF) NPORT-P Goldman Sachs Access Ultra Short Bond ETF (May 2024 report)

GOLDMAN

SACHS

ACCESS

EMERGING

MARKETS

USD

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

–

85.2%

Bahamas

–

0.3%

Bahamas

Government

International

Bond

(

B+

/

B1

)

$

200,000

8.950

%

10/15/32

$

195,612

Bahrain

–

2.9%

Bahrain

Government

International

Bond

(

B+

/

B2

)

200,000

5.625

09/30/31

188,831

200,000

6.250

01/25/51

168,500

200,000

7.500

09/20/47

193,078

200,000

6.000

09/19/44

165,000

550,000

7.000

01/26/26

554,975

225,000

5.625

05/18/34

203,907

UAE

Government

International

Bond

(

B+

/

B2

)

225,000

7.375

05/14/30

235,126

1,709,417

Brazil

–

3.7%

Brazilian

Government

International

Bond

(

BB

/

Ba2

)

779,000

6.000

10/20/33

755,729

585,000

5.625

01/07/41

516,718

270,000

5.000

01/27/45

208,575

200,000

3.875

06/12/30

177,194

300,000

4.625

01/13/28

289,836

200,000

7.125

01/20/37

210,250

2,158,302

Côte

d'Ivoire

–

0.3%

Ivory

Coast

Government

International

Bond

(

BB-

/

Ba2

)

200,000

8.250

01/30/37

195,352

Chile

–

2.9%

Chile

Government

International

Bond

(

A

/

A2

)

600,000

3.500

01/31/34

518,141

200,000

4.000

01/31/52

154,419

200,000

5.330

01/05/54

188,104

400,000

3.240

02/06/28

374,160

210,000

3.125

01/21/26

202,150

200,000

3.100

01/22/61

122,349

225,000

3.250

09/21/71

137,805

1,697,128

China

–

2.8%

China

Government

International

Bond

(

NR

/

NR

)

200,000

2.750

12/03/39

156,414

200,000

3.500

10/19/28

192,007

200,000

1.750

10/26/31

166,554

632,000

1.200

10/21/30

518,569

400,000

1.250

10/26/26

367,723

250,000

4.000

10/19/48

221,155

1,622,422

Colombia

–

4.9%

Colombia

Government

International

Bond

(

BB+

/

Baa2

)

500,000

3.125

04/15/31

393,394

550,000

5.000

06/15/45

387,460

400,000

5.200

05/15/49

281,826

300,000

3.875

04/25/27

280,912

250,000

3.250

04/22/32

191,118

200,000

8.750

11/14/53

209,567

200,000

7.375

09/18/37

194,803

275,000

5.625

02/26/44

210,787

300,000

6.125

01/18/41

251,825

460,000

3.000

01/30/30

374,306

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

(Continued)

Colombia

–

(continued)

Colombia

Government

International

Bond

(BB+/Baa2)

(continued)

$

200,000

4.125

%

05/15/51

$

119,131

2,895,129

Costa

Rica

–

1.8%

Costa

Rica

Government

International

Bond

(

BB-

/

B1

)

450,000

6.125

02/19/31

451,688

400,000

7.158

03/12/45

416,000

200,000

6.550

04/03/34

204,250

1,071,938

Dominican

Republic

–

4.8%

Dominican

Republic

International

Bond

(

BB

/

Ba3

)

425,000

6.000

07/19/28

422,344

450,000

4.875

09/23/32

402,188

150,000

6.875

01/29/26

152,062

200,000

5.500

02/22/29

193,250

175,000

7.450

04/30/44

183,094

200,000

6.400

06/05/49

186,000

225,000

6.850

01/27/45

221,062

300,000

5.875

01/30/60

253,500

225,000

4.500

01/30/30

205,031

450,000

5.950

01/25/27

448,313

150,000

6.500

02/15/48

141,375

2,808,219

Ecuador

–

1.6%

Ecuador

Government

International

Bond

(a)

(

B-

/

Ba3

)

850,000

3.500

07/31/35

443,062

450,000

6.000

07/31/30

306,000

450,000

2.500

07/31/40

214,313

963,375

Egypt

–

4.4%

Egypt

Government

International

Bond

(

B-

/

Caa1

)

200,000

7.300

09/30/33

165,033

200,000

5.875

06/11/25

196,690

200,000

7.903

02/21/48

149,750

200,000

7.500

01/31/27

195,750

200,000

8.875

05/29/50

161,500

200,000

3.875

02/16/26

186,297

200,000

6.588

02/21/28

185,695

200,000

8.700

03/01/49

159,500

300,000

5.800

09/30/27

275,481

350,000

7.625

05/29/32

299,645

450,000

8.500

01/31/47

353,250

200,000

7.500

02/16/61

141,750

134,000

6.875

04/30/40

97,317

2,567,658

Guatemala

–

1.5%

Guatemala

Government

Bond

(

BB

/

NR

)

225,000

3.700

10/07/33

182,531

200,000

6.125

06/01/50

181,500

300,000

5.375

04/24/32

283,875

200,000

6.600

06/13/36

200,750

848,656

Honduras

–

0.2%

Honduras

Government

International

Bond

(

BB-

/

B1

)

150,000

6.250

01/19/27

143,250

GOLDMAN

SACHS

ACCESS

EMERGING

MARKETS

USD

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

(Continued)

Hungary

–

2.8%

Hungary

Government

International

Bond

(

BBB-

/

Baa2

)

$

550,000

7.625

%

03/29/41

$

622,181

403,000

5.250

06/16/29

394,190

200,000

5.500

06/16/34

192,876

200,000

6.125

05/22/28

203,831

200,000

6.750

09/25/52

212,351

1,625,429

Indonesia

–

4.0%

Indonesia

Government

International

Bond

(

BBB

/

Baa2

)

275,000

3.050

03/12/51

187,130

200,000

4.300

03/31/52

166,533

200,000

3.850

07/18/27

191,555

125,000

8.500

10/12/35

157,635

225,000

4.200

10/15/50

185,090

400,000

4.650

09/20/32

384,335

325,000

7.750

01/17/38

398,525

423,000

3.550

03/31/32

377,105

350,000

2.850

02/14/30

308,902

2,356,810

Ivory

Coast

–

0.7%

Ivory

Coast

Government

International

Bond

(

BB-

/

Ba2

)

426,000

6.125

06/15/33

379,140

Jordan

–

1.2%

Jordan

Government

International

Bond

(

B+

/

Ba3

)

200,000

7.500

01/13/29

200,828

350,000

5.850

07/07/30

321,890

Jordan

Government

International

Bond

,

Series

RegS

(

B+

/

Ba3

)

200,000

6.125

01/29/26

196,052

718,770

Kazakhstan

–

1.1%

Kazakhstan

Government

International

Bond

(

BBB-

/

Baa2

)

200,000

5.125

07/21/25

199,948

225,000

6.500

07/21/45

253,296

200,000

4.875

10/14/44

190,876

644,120

Kenya

–

1.2%

Republic

of

Kenya

Government

International

Bond

(

B

/

B3

)

200,000

8.250

02/28/48

167,500

200,000

8.000

05/22/32

182,953

350,000

7.000

05/22/27

337,320

687,773

Kuwait

–

0.7%

Kuwait

International

Government

Bond

(

A+

/

NR

)

400,000

3.500

03/20/27

382,742

Mexico

–

3.4%

Mexico

Government

International

Bond

(

BBB

/

Baa2

)

600,000

4.875

05/19/33

558,650

200,000

6.338

05/04/53

191,888

200,000

3.750

01/11/28

188,871

325,000

4.500

04/22/29

311,353

200,000

6.000

05/07/36

197,225

150,000

5.550

01/21/45

136,335

50,000

6.050

01/11/40

48,945

Mexico

Government

International

Bond

,

MTN

(

BBB

/

Baa2

)

175,000

7.500

04/08/33

195,960

150,000

4.750

03/08/44

121,764

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

(Continued)

Mexico

–

(continued)

Mexico

Government

International

Bond,

MTN

(BBB/Baa2)

(continued)

$

50,000

8.300

%

08/15/31

$

59,495

2,010,486

Morocco

–

1.3%

Morocco

Government

International

Bond

(

BB+

/

Ba1

)

200,000

6.500

09/08/33

205,064

350,000

4.000

12/15/50

237,563

300,000

5.950

03/08/28

300,373

743,000

Nigeria

–

2.5%

Nigeria

Government

International

Bond

(

B-

/

Caa1

)

200,000

7.375

09/28/33

167,042

200,000

8.747

01/21/31

188,690

200,000

8.250

09/28/51

157,575

200,000

6.500

11/28/27

187,000

200,000

7.696

02/23/38

158,660

249,000

6.125

09/28/28

221,283

275,000

7.875

02/16/32

242,659

200,000

7.625

11/28/47

150,000

1,472,909

Panama

–

4.8%

Panama

Bonos

del

Tesoro

(b)

,

Series

DOM

(

BBB

/

Baa3

)

200,000

6.375

07/25/33

189,500

Panama

Government

International

Bond

(

BBB

/

Baa3

)

275,000

4.500

04/01/56

178,063

200,000

6.853

03/28/54

182,500

200,000

3.875

03/17/28

184,000

250,000

4.500

04/16/50

167,500

150,000

6.700

01/26/36

144,750

400,000

2.252

09/29/32

287,000

260,000

8.875

09/30/27

280,475

225,000

3.750

03/16/25

221,625

232,000

9.375

04/01/29

258,680

410,000

3.160

01/23/30

343,375

245,000

3.870

07/23/60

139,650

200,000

4.500

01/19/63

127,500

200,000

4.300

04/29/53

127,000

2,831,618

Philippines

–

4.4%

Philippine

Government

International

Bond

(

BBB+

/

Baa2

)

650,000

10.625

03/16/25

676,331

283,000

3.200

07/06/46

197,889

200,000

3.700

03/01/41

159,572

200,000

3.700

02/02/42

157,864

770,000

2.950

05/05/45

523,625

400,000

3.000

02/01/28

371,423

450,000

2.650

12/10/45

289,333

200,000

6.375

10/23/34

217,302

2,593,339

Poland

–

4.0%

Republic

of

Poland

Government

International

Bond

(

A-

/

A2

)

1,000,000

3.250

04/06/26

970,435

500,000

4.875

10/04/33

483,630

500,000

5.500

04/04/53

485,483

400,000

5.500

11/16/27

406,090

2,345,638

GOLDMAN

SACHS

ACCESS

EMERGING

MARKETS

USD

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

(Continued)

Qatar

–

3.5%

Qatar

Government

International

Bond

(

AA

/

Aa2

)

$

300,000

4.000

%

03/14/29

$

288,410

350,000

4.817

03/14/49

318,486

550,000

3.750

04/16/30

517,990

200,000

3.400

04/16/25

196,271

200,000

4.625

06/02/46

179,548

220,000

5.103

04/23/48

209,116

UAE

Government

International

Bond

(

AA

/

Aa2

)

400,000

4.400

04/16/50

341,510

2,051,331

Romania

–

3.6%

Romanian

Government

International

Bond

(

BBB-

/

Baa3

)

380,000

6.125

01/22/44

361,315

400,000

3.625

03/27/32

336,751

420,000

3.000

02/14/31

348,050

460,000

5.250

11/25/27

452,028

300,000

7.125

01/17/33

315,052

280,000

5.125

06/15/48

234,592

50,000

7.625

01/17/53

54,280

2,102,068

Saudi

Arabia

–

3.7%

Saudi

Government

International

Bond

(

NR

/

A1

)

200,000

4.500

04/22/60

159,914

200,000

5.500

10/25/32

203,356

200,000

5.750

01/16/54

192,977

200,000

4.625

10/04/47

169,313

400,000

2.500

02/03/27

372,650

400,000

3.250

10/22/30

358,148

225,000

4.375

04/16/29

217,839

225,000

4.500

04/17/30

216,847

350,000

4.500

10/26/46

292,759

2,183,803

Serbia

–

0.6%

Serbia

International

Bond

(

BB+

/

Ba2

)

200,000

6.500

09/26/33

200,987

200,000

2.125

12/01/30

159,000

359,987

Trinidad

and

Tobago

–

0.3%

Trinidad

&

Tobago

Government

International

Bond

(

BBB-

/

Ba2

)

200,000

4.500

08/04/26

193,750

Turkey

–

4.2%

Turkiye

Government

International

Bond

(

NR

/

B3

)

525,000

5.750

05/11/47

402,281

400,000

7.625

05/15/34

403,087

525,000

4.875

10/09/26

507,454

362,000

6.875

03/17/36

341,384

330,000

4.250

03/13/25

324,468

200,000

9.375

03/14/29

217,882

200,000

6.000

01/14/41

165,303

100,000

11.875

01/15/30

124,750

2,486,609

United

Arab

Emirates

–

1.5%

UAE

Government

International

Bond

(

NR

/

Aa2

)

477,000

2.875

10/19/41

343,345

350,000

2.000

10/19/31

287,178

375,000

3.250

10/19/61

246,583

877,106

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

(Continued)

Uruguay

–

3.3%

Uruguay

Government

International

Bond

(c)

(

BBB+

/

Baa1

)

$

350,000

5.100

%

06/18/50

$

327,469

380,000

4.975

04/20/55

345,800

200,000

5.750

10/28/34

208,000

200,000

7.625

03/21/36

238,250

408,000

4.375

01/23/31

395,760

200,000

4.125

11/20/45

172,500

150,000

4.375

10/27/27

148,875

60,000

7.875

01/15/33

71,025

1,907,679

Uzbekistan

–

0.3%

Republic

of

Uzbekistan

International

Bond

(

BB-

/

NR

)

200,000

3.900

10/19/31

163,252

TOTAL

SOVEREIGN

DEBT

OBLIGATIONS

(Cost

$51,702,595)

49,993,817

a

Corporate

Obligations

–

13.2%

Brazil

–

1.7%

Petrobras

Global

Finance

BV

(

BB

/

Ba1

)

200,000

7.375

01/17/27

207,000

200,000

5.999

01/27/28

200,000

301,000

6.500

07/03/33

301,771

216,000

6.850

06/05/15

190,890

71,000

6.900

03/19/49

66,868

966,529

Chile

–

2.0%

Corp.

Nacional

del

Cobre

de

Chile

(

BBB+

/

Baa1

)

200,000

3.700

01/30/50

134,979

200,000

3.000

09/30/29

175,250

200,000

3.150

01/14/30

175,750

200,000

3.625

08/01/27

188,484

400,000

4.500

08/01/47

311,068

Empresa

de

Transporte

de

Pasajeros

Metro

SA

(

NR

/

A3

)

200,000

4.700

05/07/50

162,113

1,147,644

China

–

0.3%

China

Development

Bank

Financial

Leasing

Co.

Ltd.

(d)

(

BBB+

/

NR

)

(US

5

Year

CMT

T-Note

+

2.750%)

200,000

2.875

09/28/30

192,104

Hungary

–

0.4%

Magyar

Export-Import

Bank

Zrt

(

BBB-

/

NR

)

200,000

6.125

12/04/27

201,335

India

–

3.0%

Export-Import

Bank

of

India

(

NR

/

Baa3

)

200,000

3.875

02/01/28

190,537

400,000

3.375

08/05/26

383,210

250,000

3.250

01/15/30

224,200

Indian

Railway

Finance

Corp.

Ltd.

(

BBB-

/

Baa3

)

350,000

2.800

02/10/31

297,586

200,000

3.570

01/21/32

176,284

Power

Finance

Corp.

Ltd.

(

NR

/

Baa3

)

200,000

3.950

04/23/30

182,250

GOLDMAN

SACHS

ACCESS

EMERGING

MARKETS

USD

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

(Continued)

India

–

(continued)

REC

Ltd.

(

NR

/

Baa3

)

$

303,000

5.625

%

04/11/28

$

303,995

1,758,062

Indonesia

–

1.0%

Pertamina

Persero

PT

(

NR

/

Baa2

)

457,000

3.100

08/27/30

401,589

200,000

6.450

05/30/44

208,000

609,589

Mexico

–

2.2%

Petroleos

Mexicanos

(

BBB

/

B3

)

175,000

5.350

02/12/28

156,196

200,000

4.500

01/23/26

188,645

180,000

6.500

03/13/27

170,085

428,000

6.750

09/21/47

287,426

100,000

6.840

01/23/30

88,139

75,000

7.690

01/23/50

54,780

100,000

6.950

01/28/60

66,534

50,000

6.500

01/23/29

45,186

100,000

6.875

10/16/25

98,563

199,000

5.625

01/23/46

121,438

25,000

6.625

06/15/35

19,191

25,000

6.500

06/02/41

17,281

1,313,464

Poland

–

0.3%

Bank

Gospodarstwa

Krajowego

(

NR

/

A2

)

200,000

5.375

05/22/33

198,965

Qatar

–

0.8%

QatarEnergy

(

AA

/

Aa2

)

300,000

3.300

07/12/51

205,813

309,000

2.250

07/12/31

255,536

461,349

Saudi

Arabia

–

1.5%

Gaci

First

Investment

Co.

(

NR

/

A1

)

200,000

4.875

02/14/35

187,784

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

(Continued)

Saudi

Arabia

–

(continued)

Gaci

First

Investment

Co.

(NR/A1)

(continued)

$

200,000

5.250

%

01/29/34

$

195,180

Saudi

Arabian

Oil

Co.

(

NR

/

A1

)

200,000

4.250

04/16/39

171,701

375,000

3.500

04/16/29

347,724

902,389

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$8,051,618)

7,751,430

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.2%

(e)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

116,933

5.227%

116,933

(Cost

$116,933)

TOTAL

INVESTMENTS

–

98.6%

(Cost

$59,871,146)

$

57,862,180

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

1.4%

845,734

NET

ASSETS

–

100.0%

$

58,707,914

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Step

coupon.

(b)

Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

(c)

Pay-in-kind

securities.

(d)

Variable

rate

security.

Interest

rate

or

distribution

rate

disclosed

is

that

which

is

in

effect

on

May

31,

2024.

(e)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

CMT

—

Constant

Maturity

Treasury

Index

MTN

—

Medium

Term

Note

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

91.6%

Advertising

–

1.4%

Clear

Channel

Outdoor

Holdings,

Inc.

$

516,000

5.125

%

08/15/27

(a)

$

490,200

100,000

7.750

04/15/28

(a)

86,625

300,000

9.000

09/15/28

(a)

311,625

236,000

7.500

06/01/29

(a)

193,520

Lamar

Media

Corp.

279,000

3.750

02/15/28

259,470

234,000

4.000

02/15/30

210,308

200,000

3.625

01/15/31

173,250

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

460,000

4.625

03/15/30

(a)

410,550

2,135,548

Aerospace

&

Defense

–

1.9%

Spirit

AeroSystems,

Inc.

100,000

4.600

06/15/28

91,500

170,000

9.375

11/30/29

(a)

182,962

100,000

9.750

11/15/30

(a)

109,625

TransDigm,

Inc.

523,000

5.500

11/15/27

510,579

152,000

6.750

08/15/28

(a)

154,090

698,000

4.625

01/15/29

645,650

350,000

6.875

12/15/30

(a)

353,937

300,000

7.125

12/01/31

(a)

306,938

640,000

6.625

03/01/32

(a)

642,800

2,998,081

Banks

–

0.5%

Freedom

Mortgage

Corp.

297,000

7.625

05/01/26

(a)

295,886

200,000

6.625

01/15/27

(a)

193,750

100,000

12.000

10/01/28

(a)

108,250

180,000

12.250

10/01/30

(a)

197,775

795,661

Basic

Industry

–

1.4%

Axalta

Coating

Systems

LLC

280,000

3.375

02/15/29

(a)

249,900

Chemours

Co.

(The)

213,000

5.750

11/15/28

(a)

195,960

Olin

Corp.

269,000

5.625

08/01/29

262,611

210,000

5.000

02/01/30

198,713

Olympus

Water  U.S.

Holding

Corp.

280,000

4.250

10/01/28

(a)

258,650

200,000

6.250

10/01/29

(a)

185,250

SCIH

Salt

Holdings,

Inc.

303,000

6.625

05/01/29

(a)

285,956

Tronox,

Inc.

417,000

4.625

03/15/29

(a)

378,428

WR

Grace

Holdings

LLC

188,000

4.875

06/15/27

(a)

181,420

2,196,888

Broadcasting

–

1.7%

iHeartCommunications,

Inc.

450,000

6.375

05/01/26

344,250

200,000

8.375

05/01/27

73,000

250,000

5.250

08/15/27

(a)

139,375

Nexstar

Media,

Inc.

100,000

5.625

07/15/27

(a)

94,750

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Broadcasting

–

(continued)

Sirius

XM

Radio,

Inc.

$

350,000

3.125

%

09/01/26

(a)

$

327,687

476,000

5.000

08/01/27

(a)

451,605

326,000

4.000

07/15/28

(a)

291,770

639,000

3.875

09/01/31

(a)

510,801

TEGNA,

Inc.

300,000

4.750

03/15/26

(a)

291,750

2,524,988

Brokerage

–

0.4%

Coinbase

Global,

Inc.

138,000

3.375

10/01/28

(a)

117,818

Jefferies

Finance

LLC

/

JFIN

Co.-Issuer

Corp.

200,000

5.000

08/15/28

(a)

184,687

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

284,000

4.750

06/15/29

(a)

257,375

559,880

Building

Materials

–

1.7%

American

Builders

&

Contractors

Supply

Co.,

Inc.

171,000

4.000

01/15/28

(a)

159,671

120,000

3.875

11/15/29

(a)

106,050

Builders

FirstSource,

Inc.

88,000

5.000

03/01/30

(a)

82,830

292,000

4.250

02/01/32

(a)

255,500

240,000

6.375

06/15/32

(a)

239,400

100,000

6.375

03/01/34

(a)

98,375

Smyrna

Ready

Mix

Concrete

LLC

100,000

6.000

11/01/28

(a)

96,625

500,000

8.875

11/15/31

(a)

526,875

SRS

Distribution,

Inc.

100,000

4.625

07/01/28

(a)

99,563

Standard

Industries,

Inc.

300,000

5.000

02/15/27

(a)

291,750

329,000

4.375

07/15/30

(a)

293,547

201,000

3.375

01/15/31

(a)

168,054

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

100,000

7.250

01/15/31

(a)

103,125

2,521,365

Capital

Goods

–

4.0%

ASP

Unifrax

Holdings,

Inc.

320,000

5.250

09/30/28

(a)

162,000

Ball

Corp.

300,000

6.875

03/15/28

306,000

250,000

6.000

06/15/29

250,625

482,000

2.875

08/15/30

409,700

Chart

Industries,

Inc.

100,000

7.500

01/01/30

(a)

103,000

Clean

Harbors,

Inc.

300,000

4.875

07/15/27

(a)

290,250

Clydesdale

Acquisition

Holdings,

Inc.

151,000

6.625

04/15/29

(a)

149,112

210,000

8.750

04/15/30

(a)

202,913

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

V

198,000

4.250

09/30/26

191,565

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

VI

148,000

4.750

02/01/26

145,410

Emerald

Debt

Merger

Sub

LLC

400,000

6.625

12/15/30

(a)

402,000

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Capital

Goods

–

(continued)

EquipmentShare.com,

Inc.

$

300,000

9.000

%

05/15/28

(a)

$

310,500

Graham

Packaging

Co.,

Inc.

100,000

7.125

08/15/28

(a)

94,375

Herc

Holdings,

Inc.

214,000

5.500

07/15/27

(a)

209,453

LABL,

Inc.

233,000

6.750

07/15/26

(a)

230,961

152,000

10.500

07/15/27

(a)

148,770

170,000

5.875

11/01/28

(a)

153,425

100,000

8.250

11/01/29

(a)

85,375

Madison

IAQ

LLC

100,000

4.125

06/30/28

(a)

92,750

Mauser

Packaging

Solutions

Holding

Co.

645,000

7.875

04/15/27

(a)

659,512

300,000

9.250

04/15/27

(a)

298,875

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer,

Inc.

190,000

4.375

10/15/28

(a)

176,937

Pactiv

Evergreen

Group

Issuer,

Inc./Pactiv

Evergreen

Group

Issuer

LLC

100,000

4.000

10/15/27

(a)

93,375

Reworld

Holding

Corp.

321,000

4.875

12/01/29

(a)

293,142

Sealed

Air

Corp.

450,000

6.875

07/15/33

(a)

465,188

Sensata

Technologies,

Inc.

100,000

3.750

02/15/31

(a)

86,625

6,011,838

Communications

–

7.0%

AMC

Networks,

Inc.

175,000

4.250

02/15/29

124,250

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

560,000

5.125

05/01/27

(a)

535,500

775,000

5.000

02/01/28

(a)

717,844

279,000

5.375

06/01/29

(a)

250,751

200,000

6.375

09/01/29

(a)

187,500

478,000

4.750

03/01/30

(a)

408,092

430,000

4.500

08/15/30

(a)

358,512

350,000

4.250

02/01/31

(a)

282,188

440,000

7.375

03/01/31

(a)

426,250

350,000

4.750

02/01/32

(a)

283,063

532,000

4.500

05/01/32

422,275

200,000

4.500

06/01/33

(a)

155,250

388,000

4.250

01/15/34

(a)

291,485

CSC

Holdings

LLC

200,000

5.500

04/15/27

(a)

153,750

250,000

5.375

02/01/28

(a)

176,875

250,000

7.500

04/01/28

(a)

140,625

200,000

11.250

05/15/28

(a)

162,500

500,000

11.750

01/31/29

(a)

398,750

200,000

6.500

02/01/29

(a)

136,000

240,000

5.750

01/15/30

(a)

102,600

250,000

4.125

12/01/30

(a)

155,000

400,000

4.625

12/01/30

(a)

170,000

250,000

3.375

02/15/31

(a)

147,812

250,000

4.500

11/15/31

(a)

154,063

Directv

Financing

LLC

350,000

8.875

02/01/30

(a)

336,875

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Communications

–

(continued)

Directv

Financing

LLC

/

Directv

Financing

Co.-Obligor,

Inc.

$

543,000

5.875

%

08/15/27

(a)

$

511,778

DISH

DBS

Corp.

450,000

7.750

07/01/26

289,125

450,000

5.250

12/01/26

(a)

360,562

450,000

5.750

12/01/28

(a)

316,125

280,000

5.125

06/01/29

114,100

DISH

Network

Corp.

600,000

11.750

11/15/27

(a)

601,125

Live

Nation

Entertainment,

Inc.

425,000

4.750

10/15/27

(a)

403,750

150,000

3.750

01/15/28

(a)

138,375

McGraw-Hill

Education,

Inc.

440,000

5.750

08/01/28

(a)

412,500

News

Corp.

250,000

3.875

05/15/29

(a)

228,437

130,000

5.125

02/15/32

(a)

121,063

Radiate

Holdco

LLC

/

Radiate

Finance,

Inc.

250,000

4.500

09/15/26

(a)

185,625

WMG

Acquisition

Corp.

232,000

3.875

07/15/30

(a)

206,480

293,000

3.000

02/15/31

(a)

249,783

10,816,638

Consumer

Cyclical

–

18.3%

Adient

Global

Holdings

Ltd.

500,000

8.250

04/15/31

(a)

521,287

ADT

Security

Corp.

(The)

86,000

4.125

08/01/29

(a)

78,152

196,000

4.875

07/15/32

(a)

177,625

Allison

Transmission,

Inc.

279,000

3.750

01/30/31

(a)

241,335

AMC

Entertainment

Holdings,

Inc.

200,000

10.000

06/15/26

(a)(b)

171,000

100,000

7.500

02/15/29

(a)

74,250

American

Axle

&

Manufacturing,

Inc.

246,000

6.875

07/01/28

244,770

126,000

5.000

10/01/29

114,660

Anywhere

Real

Estate

Group

LLC

/

Anywhere

Co.-Issuer

Corp.

250,000

7.000

04/15/30

(a)

217,812

Asbury

Automotive

Group,

Inc.

292,000

4.625

11/15/29

(a)

269,005

150,000

5.000

02/15/32

(a)

134,625

Bath

&

Body

Works,

Inc.

500,000

7.500

06/15/29

515,625

100,000

6.625

10/01/30

(a)

100,375

194,000

6.875

11/01/35

196,182

100,000

6.750

07/01/36

99,563

Boyd

Gaming

Corp.

108,000

4.750

12/01/27

103,005

146,000

4.750

06/15/31

(a)

131,217

Brink's

Co.

(The)

200,000

5.500

07/15/25

(a)

199,500

Caesars

Entertainment,

Inc.

305,000

8.125

07/01/27

(a)

310,576

358,000

4.625

10/15/29

(a)

324,437

200,000

7.000

02/15/30

(a)

202,750

140,000

6.500

02/15/32

(a)

138,950

Carnival

Corp.

841,000

7.625

03/01/26

(a)

846,256

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Carnival

Corp.

–

(continued)

$

250,000

5.750

%

03/01/27

(a)

$

246,250

200,000

4.000

08/01/28

(a)

184,250

871,000

6.000

05/01/29

(a)

851,403

Carnival

Holdings

Bermuda

Ltd.

273,000

10.375

05/01/28

(a)

295,181

Carvana

Co.

120,000

12.000

12/01/28

(a)(b)

125,550

460,000

13.000

06/01/30

(a)(b)

474,375

460,000

14.000

06/01/31

(a)(b)

485,875

Century

Communities,

Inc.

150,000

6.750

06/01/27

150,375

200,000

3.875

08/15/29

(a)

176,500

Cinemark

USA,

Inc.

100,000

5.250

07/15/28

(a)

93,875

Clarios

Global

LP

/

Clarios  U.S.

Finance

Co.

289,000

8.500

05/15/27

(a)

290,806

100,000

6.750

05/15/28

(a)

101,125

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co.,

Inc.

147,000

4.625

01/15/29

(a)

132,851

564,000

6.750

01/15/30

(a)

499,140

FirstCash,

Inc.

200,000

4.625

09/01/28

(a)

187,750

240,000

6.875

03/01/32

(a)

238,200

Gap,

Inc.

(The)

100,000

3.625

10/01/29

(a)

86,750

207,000

3.875

10/01/31

(a)

173,362

GEO

Group,

Inc.

(The)

200,000

8.625

04/15/29

(a)

205,750

200,000

10.250

04/15/31

(a)

211,250

Goodyear

Tire

&

Rubber

Co.

(The)

50,000

9.500

05/31/25

50,094

50,000

5.000

05/31/26

48,750

150,000

4.875

03/15/27

144,188

170,000

5.000

07/15/29

156,825

180,000

5.250

04/30/31

163,800

103,000

5.250

07/15/31

92,957

Guitar

Center,

Inc.

250,000

8.500

01/15/26

(a)

221,875

Hilton

Domestic

Operating

Co.,

Inc.

50,000

5.375

05/01/25

(a)

49,937

220,000

5.750

05/01/28

(a)

218,350

225,000

3.750

05/01/29

(a)

204,469

45,000

4.875

01/15/30

42,525

283,000

4.000

05/01/31

(a)

249,785

289,000

3.625

02/15/32

(a)

245,400

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Esc

419,000

5.000

06/01/29

(a)

388,622

300,000

6.625

01/15/32

(a)

298,500

Iron

Mountain

Information

Management

Services,

Inc.

100,000

5.000

07/15/32

(a)

90,375

Iron

Mountain,

Inc.

200,000

4.875

09/15/27

(a)

193,500

239,000

5.250

03/15/28

(a)

230,337

100,000

5.000

07/15/28

(a)

95,375

200,000

7.000

02/15/29

(a)

203,500

100,000

4.875

09/15/29

(a)

92,875

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Iron

Mountain,

Inc.

–

(continued)

$

319,000

5.250

%

07/15/30

(a)

$

299,461

400,000

4.500

02/15/31

(a)

357,750

KFC

Holding

Co./Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC

150,000

4.750

06/01/27

(a)

146,063

LCM

Investments

Holdings

II

LLC

290,000

4.875

05/01/29

(a)

269,700

Liberty

Interactive

LLC

200,000

8.250

02/01/30

106,000

Life

Time,

Inc.

60,000

8.000

04/15/26

(a)

60,675

Light

&

Wonder

International,

Inc.

145,000

7.000

05/15/28

(a)

146,631

146,000

7.250

11/15/29

(a)

148,373

250,000

7.500

09/01/31

(a)

257,187

Lithia

Motors,

Inc.

200,000

4.625

12/15/27

(a)

190,500

100,000

4.375

01/15/31

(a)

88,250

Macy's

Retail

Holdings

LLC

190,000

5.875

04/01/29

(a)

183,825

170,000

5.875

03/15/30

(a)

162,350

141,000

6.125

03/15/32

(a)

134,479

MGM

Resorts

International

79,000

5.750

06/15/25

78,902

161,000

4.625

09/01/26

156,371

180,000

5.500

04/15/27

177,300

160,000

4.750

10/15/28

150,200

Mohegan

Tribal

Gaming

Authority

354,000

8.000

02/01/26

(a)

330,105

200,000

13.250

12/15/27

(a)

225,750

NCL

Corp.

Ltd.

327,000

5.875

03/15/26

(a)

322,504

500,000

5.875

02/15/27

(a)

493,750

114,000

7.750

02/15/29

(a)

116,992

NCL

Finance

Ltd.

50,000

6.125

03/15/28

(a)

48,875

NMG

Holding

Co.,

Inc.

/

Neiman

Marcus

Group

LLC

240,000

7.125

04/01/26

(a)

239,400

Nordstrom,

Inc.

100,000

4.250

08/01/31

88,500

Penske

Automotive

Group,

Inc.

110,000

3.750

06/15/29

98,038

PetSmart,

Inc.

/

PetSmart

Finance

Corp.

250,000

4.750

02/15/28

(a)

233,125

250,000

7.750

02/15/29

(a)

238,750

Premier

Entertainment

Sub

LLC

/

Premier

Entertainment

Finance

Corp.

100,000

5.625

09/01/29

(a)

72,625

100,000

5.875

09/01/31

(a)

69,875

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

100,000

5.750

04/15/26

(a)

99,750

338,000

3.375

08/31/27

(a)

310,115

358,000

6.250

01/15/28

(a)

352,183

QVC,

Inc.

450,000

4.750

02/15/27

387,563

50,000

4.375

09/01/28

37,500

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.

100,000

4.750

10/15/27

96,375

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.

–

(continued)

$

100,000

7.250

%

07/15/28

(a)

$

102,250

329,000

4.500

02/15/29

(a)

304,736

Royal

Caribbean

Cruises

Ltd.

420,000

4.250

07/01/26

(a)

405,300

200,000

5.500

08/31/26

(a)

197,250

100,000

5.375

07/15/27

(a)

97,875

140,000

3.700

03/15/28

129,850

351,000

5.500

04/01/28

(a)

343,980

100,000

7.250

01/15/30

(a)

103,000

Sabre

GLBL,

Inc.

400,000

8.625

06/01/27

(a)

369,500

Six

Flags

Entertainment

Corp.

250,000

5.500

04/15/27

(a)

245,313

200,000

7.250

05/15/31

(a)

199,375

Staples,

Inc.

333,000

7.500

04/15/26

(a)

333,000

Station

Casinos

LLC

100,000

4.500

02/15/28

(a)

93,250

Taylor

Morrison

Communities,

Inc.

100,000

5.875

06/15/27

(a)

99,125

243,000

5.125

08/01/30

(a)

229,027

Tenneco,

Inc.

300,000

8.000

11/17/28

(a)

274,125

TKC

Holdings,

Inc.

100,000

6.875

05/15/28

(a)

97,750

Travel

+

Leisure

Co.

155,000

6.625

07/31/26

(a)

156,163

100,000

6.000

04/01/27

99,500

150,000

4.500

12/01/29

(a)

136,500

Wand

NewCo

3,

Inc.

540,000

7.625

01/30/32

(a)

554,850

Williams

Scotsman,

Inc.

254,000

6.125

06/15/25

(a)

253,365

290,000

7.375

10/01/31

(a)

298,700

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

200,000

5.250

05/15/27

(a)

195,000

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

200,000

5.125

10/01/29

(a)

189,500

Yum!

Brands,

Inc.

161,000

4.750

01/15/30

(a)

152,145

164,000

3.625

03/15/31

143,090

200,000

4.625

01/31/32

184,250

354,000

5.375

04/01/32

338,513

27,407,688

Consumer

Noncyclical

–

4.1%

Albertsons

Cos.

Inc

/

Safeway,

Inc.

/

New

Albertsons

LP

/

Albertsons

LLC

580,000

3.500

03/15/29

(a)

520,550

650,000

4.875

02/15/30

(a)

611,812

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

3,000

6.625

07/15/26

(a)

3,004

207,000

9.750

07/15/27

(a)

205,577

200,000

6.000

06/01/29

(a)

171,000

Allied

Universal

Holdco

LLC

/Allied

Universal

Finance

Corp.

/

Atlas

Luxco

4

Sarl

200,000

4.625

06/01/28

(a)

181,000

Avantor

Funding,

Inc.

550,000

4.625

07/15/28

(a)

519,062

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Noncyclical

–

(continued)

Hologic,

Inc.

$

104,000

4.625

%

02/01/28

(a)

$

100,230

375,000

3.250

02/15/29

(a)

334,688

LifePoint

Health,

Inc.

200,000

5.375

01/15/29

(a)

169,000

Medline

Borrower

LP

986,000

3.875

04/01/29

(a)

898,493

471,000

5.250

10/01/29

(a)

446,272

Molina

Healthcare,

Inc.

450,000

4.375

06/15/28

(a)

420,188

140,000

3.875

11/15/30

(a)

122,850

100,000

3.875

05/15/32

(a)

85,000

Organon

&

Co

/

Organon

Foreign

Debt

Co.-Issuer

BV

330,000

4.125

04/30/28

(a)

304,838

550,000

5.125

04/30/31

(a)

488,125

RegionalCare

Hospital

Partners

Holdings

Inc

/

LifePoint

Health,

Inc.

393,000

9.750

12/01/26

(a)

393,491

Teleflex,

Inc.

100,000

4.625

11/15/27

95,875

140,000

4.250

06/01/28

(a)

130,900

Vector

Group

Ltd.

154,000

10.500

11/01/26

(a)

155,733

150,000

5.750

02/01/29

(a)

138,000

6,495,688

Consumer

Products

–

1.3%

Coty

Inc/HFC

Prestige

Products,

Inc./HFC

Prestige

International  U.S.

LLC

280,000

6.625

07/15/30

(a)

283,150

Coty,

Inc.

200,000

5.000

04/15/26

(a)

197,750

Edgewell

Personal

Care

Co.

100,000

5.500

06/01/28

(a)

97,250

100,000

4.125

04/01/29

(a)

90,875

Energizer

Holdings,

Inc.

260,000

4.750

06/15/28

(a)

240,170

100,000

4.375

03/31/29

(a)

89,500

Newell

Brands,

Inc.

170,000

6.375

09/15/27

167,817

320,000

6.625

09/15/29

313,028

Scotts

Miracle-Gro

Co.

(The)

200,000

4.375

02/01/32

171,000

Tempur

Sealy

International,

Inc.

300,000

4.000

04/15/29

(a)

269,625

240,000

3.875

10/15/31

(a)

202,800

2,122,965

Distribution

&

Logistics

–

0.6%

WESCO

Distribution,

Inc.

300,000

7.125

06/15/25

(a)

299,437

171,000

7.250

06/15/28

(a)

173,993

200,000

6.375

03/15/29

(a)

201,000

200,000

6.625

03/15/32

(a)

201,500

875,930

Electric

–

3.3%

Artera

Services

LLC

280,000

8.500

02/15/31

(a)

285,950

Calpine

Corp.

191,000

5.250

06/01/26

(a)

188,851

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

Calpine

Corp.

–

(continued)

$

100,000

5.125

%

03/15/28

(a)

$

95,625

150,000

4.625

02/01/29

(a)

139,875

168,000

5.000

02/01/31

(a)

155,190

277,000

3.750

03/01/31

(a)

241,336

Clearway

Energy

Operating

LLC

473,000

3.750

02/15/31

(a)

414,466

NextEra

Energy

Operating

Partners

LP

100,000

3.875

10/15/26

(a)

94,750

200,000

4.500

09/15/27

(a)

188,500

NRG

Energy,

Inc.

640,000

3.375

02/15/29

(a)

564,992

PG&E

Corp.

487,000

5.250

07/01/30

464,762

Pike

Corp.

100,000

8.625

01/31/31

(a)

105,375

Talen

Energy

Supply

LLC

100,000

8.625

06/01/30

(a)

107,375

TerraForm

Power

Operating

LLC

300,000

5.000

01/31/28

(a)

286,875

200,000

4.750

01/15/30

(a)

182,250

Vistra

Operations

Co.

LLC

100,000

5.500

09/01/26

(a)

98,625

187,000

5.625

02/15/27

(a)

183,961

385,000

5.000

07/31/27

(a)

372,006

414,000

4.375

05/01/29

(a)

383,985

200,000

7.750

10/15/31

(a)

207,750

90,000

6.875

04/15/32

(a)

90,675

4,853,174

Energy

–

10.0%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp.

167,000

5.750

03/01/27

(a)

165,330

71,000

5.750

01/15/28

(a)

69,580

250,000

6.625

02/01/32

(a)

249,687

Antero

Resources

Corp.

126,000

7.625

02/01/29

(a)

129,937

150,000

5.375

03/01/30

(a)

144,000

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp.

297,000

6.875

04/01/27

(a)

299,599

50,000

6.250

04/01/28

(a)

49,500

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.

152,000

5.875

06/30/29

(a)

146,110

Buckeye

Partners

LP

68,000

3.950

12/01/26

64,855

134,000

4.125

12/01/27

124,414

146,000

4.500

03/01/28

(a)

136,328

Chesapeake

Energy

Corp.

400,000

5.875

02/01/29

(a)

394,000

CITGO

Petroleum

Corp.

300,000

7.000

06/15/25

(a)

300,187

170,000

6.375

06/15/26

(a)

169,788

100,000

8.375

01/15/29

(a)

103,750

CNX

Resources

Corp.

370,000

6.000

01/15/29

(a)

361,675

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

500,000

5.500

06/15/31

(a)

470,625

CrownRock

LP

/

CrownRock

Finance,

Inc.

364,000

5.625

10/15/25

(a)

363,545

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp.

$

100,000

8.625

%

03/15/29

(a)

$

102,500

DT

Midstream,

Inc.

250,000

4.125

06/15/29

(a)

229,687

297,000

4.375

06/15/31

(a)

266,929

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

343,000

5.750

01/30/28

(a)

346,859

EQM

Midstream

Partners

LP

293,000

6.000

07/01/25

(a)

293,366

50,000

7.500

06/01/27

(a)

51,125

270,000

6.500

07/01/27

(a)

273,375

167,000

5.500

07/15/28

164,078

199,000

4.500

01/15/29

(a)

186,314

239,000

4.750

01/15/31

(a)

219,282

Hess

Midstream

Operations

LP

77,000

5.125

06/15/28

(a)

74,305

233,000

4.250

02/15/30

(a)

211,739

100,000

5.500

10/15/30

(a)

95,750

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

75,000

6.250

11/01/28

(a)

74,250

269,000

5.750

02/01/29

(a)

260,257

150,000

6.000

02/01/31

(a)

143,250

100,000

8.375

11/01/33

(a)

106,750

ITT

Holdings

LLC

260,000

6.500

08/01/29

(a)

238,875

Kinetik

Holdings

LP

500,000

5.875

06/15/30

(a)

489,375

Moss

Creek

Resources

Holdings,

Inc.

130,000

7.500

01/15/26

(a)

129,594

265,000

10.500

05/15/27

(a)

270,134

Nabors

Industries

Ltd.

189,000

7.250

01/15/26

(a)

189,473

Nabors

Industries,

Inc.

200,000

9.125

01/31/30

(a)

206,875

Northern

Oil

&

Gas,

Inc.

100,000

8.125

03/01/28

(a)

102,125

150,000

8.750

06/15/31

(a)

157,125

PBF

Holding

Co.

LLC

/

PBF

Finance

Corp.

323,000

6.000

02/15/28

316,540

Permian

Resources

Operating

LLC

500,000

8.000

04/15/27

(a)

515,625

200,000

5.875

07/01/29

(a)

196,250

240,000

7.000

01/15/32

(a)

245,100

Range

Resources

Corp.

185,000

4.875

05/15/25

183,844

250,000

4.750

02/15/30

(a)

231,562

SM

Energy

Co.

90,000

6.750

09/15/26

90,112

199,000

6.625

01/15/27

198,254

Southwestern

Energy

Co.

293,000

5.375

03/15/30

281,646

341,000

4.750

02/01/32

309,031

Sunoco

LP

/

Sunoco

Finance

Corp.

130,000

6.000

04/15/27

129,188

200,000

4.500

05/15/29

183,750

90,000

4.500

04/30/30

81,675

Transocean

Titan

Financing

Ltd.

93,000

8.375

02/01/28

(a)

96,023

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Transocean,

Inc.

$

130,000

8.250

%

05/15/29

(a)

$

130,244

594,000

8.750

02/15/30

(a)

620,730

230,000

8.500

05/15/31

(a)

229,281

Valaris

Ltd.

300,000

8.375

04/30/30

(a)

310,896

Venture

Global

Calcasieu

Pass

LLC

520,000

3.875

08/15/29

(a)

469,300

30,000

4.125

08/15/31

(a)

26,587

247,000

3.875

11/01/33

(a)

207,789

Venture

Global

LNG,

Inc.

510,000

8.125

06/01/28

(a)

522,112

670,000

9.500

02/01/29

(a)

726,112

200,000

9.875

02/01/32

(a)

215,000

Vital

Energy,

Inc.

200,000

9.750

10/15/30

218,500

15,361,453

Financial

Company

–

5.3%

AG

TTMT

Escrow

Issuer

LLC

100,000

8.625

09/30/27

(a)

103,625

Boost

Newco

Borrower

LLC

200,000

7.500

01/15/31

(a)

207,500

Coinbase

Global,

Inc.

250,000

3.625

10/01/31

(a)

198,750

Compass

Group

Diversified

Holdings

LLC

260,000

5.250

04/15/29

(a)

244,400

Credit

Acceptance

Corp.

180,000

9.250

12/15/28

(a)

190,125

HUB

International

Ltd.

170,000

5.625

12/01/29

(a)

157,887

540,000

7.250

06/15/30

(a)

550,125

400,000

7.375

01/31/32

(a)

401,500

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp.

564,000

6.375

12/15/25

564,024

470,000

5.250

05/15/27

434,163

125,000

9.750

01/15/29

(a)

128,750

LD

Holdings

Group

LLC

226,000

6.125

04/01/28

(a)

157,352

Midcap

Financial

Issuer

Trust

200,000

6.500

05/01/28

(a)

187,250

Nationstar

Mortgage

Holdings,

Inc.

130,000

6.000

01/15/27

(a)

128,862

353,000

5.500

08/15/28

(a)

337,998

200,000

5.125

12/15/30

(a)

181,233

100,000

5.750

11/15/31

(a)

92,500

Navient

Corp.

440,000

9.375

07/25/30

458,496

180,000

11.500

03/15/31

198,102

OneMain

Finance

Corp.

450,000

7.125

03/15/26

458,438

120,000

3.500

01/15/27

111,150

535,000

3.875

09/15/28

476,150

100,000

9.000

01/15/29

105,125

100,000

7.875

03/15/30

102,125

235,000

4.000

09/15/30

200,631

Osaic

Holdings,

Inc.

100,000

10.750

08/01/27

(a)

103,375

PennyMac

Financial

Services,

Inc.

402,000

5.375

10/15/25

(a)

398,482

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Financial

Company

–

(continued)

PennyMac

Financial

Services,

Inc.

–

(continued)

$

150,000

5.750

%

09/15/31

(a)

$

138,000

Rocket

Mortgage

LLC

244,000

5.250

01/15/28

(a)

234,908

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co.-Issuer,

Inc.

100,000

2.875

10/15/26

(a)

93,205

371,000

3.875

03/01/31

(a)

321,779

270,000

4.000

10/15/33

(a)

226,152

SLM

Corp.

100,000

4.200

10/29/25

97,500

140,000

3.125

11/02/26

130,025

United

Wholesale

Mortgage

LLC

200,000

5.750

06/15/27

(a)

194,250

140,000

5.500

04/15/29

(a)

131,600

8,445,537

Food

and

Beverage

–

2.1%

Aramark

Services,

Inc.

395,000

5.000

02/01/28

(a)

377,719

B&G

Foods,

Inc.

250,000

5.250

09/15/27

229,856

Fiesta

Purchaser,

Inc.

350,000

7.875

03/01/31

(a)

360,937

HLF

Financing

Sarl

LLC

/

Herbalife

International,

Inc.

225,000

4.875

06/01/29

(a)

146,813

Lamb

Weston

Holdings,

Inc.

320,000

4.125

01/31/30

(a)

289,200

240,000

4.375

01/31/32

(a)

213,000

Performance

Food

Group,

Inc.

488,000

5.500

10/15/27

(a)

478,240

Post

Holdings,

Inc.

180,000

5.625

01/15/28

(a)

176,400

273,000

5.500

12/15/29

(a)

261,056

370,000

4.500

09/15/31

(a)

326,525

70,000

6.250

02/15/32

(a)

69,650

U.S.

Foods,

Inc.

250,000

6.875

09/15/28

(a)

254,687

300,000

4.750

02/15/29

(a)

281,625

100,000

4.625

06/01/30

(a)

92,000

3,557,708

Hardware

–

0.4%

NCR

Voyix

Corp.

354,000

5.000

10/01/28

(a)

331,875

200,000

5.125

04/15/29

(a)

186,750

190,000

5.250

10/01/30

(a)

173,138

691,763

Healthcare

–

4.8%

Charles

River

Laboratories

International,

Inc.

450,000

4.000

03/15/31

(a)

396,281

CHS/Community

Health

Systems,

Inc.

350,000

5.625

03/15/27

(a)

332,937

226,000

6.000

01/15/29

(a)

202,835

238,000

6.875

04/15/29

(a)

187,425

200,000

6.125

04/01/30

(a)

143,500

476,000

5.250

05/15/30

(a)

396,270

399,000

4.750

02/15/31

(a)

317,205

DaVita,

Inc.

526,000

4.625

06/01/30

(a)

474,058

313,000

3.750

02/15/31

(a)

263,311

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Healthcare

–

(continued)

Encompass

Health

Corp.

$

400,000

4.750

%

02/01/30

$

371,000

IQVIA,

Inc.

280,000

5.000

05/15/27

(a)

272,650

250,000

6.500

05/15/30

(a)

252,527

Legacy

LifePoint

Health

LLC

323,000

4.375

02/15/27

(a)

306,850

Owens

&

Minor,

Inc.

400,000

6.625

04/01/30

(a)

381,000

RP

Escrow

Issuer

LLC

100,000

5.250

12/15/25

(a)

96,000

Select

Medical

Corp.

100,000

6.250

08/15/26

(a)

100,250

Service

Corp.

International

115,000

4.625

12/15/27

110,400

468,000

5.125

06/01/29

452,790

Star

Parent,

Inc.

100,000

9.000

10/01/30

(a)

104,875

Tenet

Healthcare

Corp.

290,000

6.250

02/01/27

289,637

305,000

5.125

11/01/27

297,375

193,000

4.625

06/15/28

184,556

451,000

6.125

10/01/28

447,054

420,000

4.250

06/01/29

388,500

50,000

6.125

06/15/30

49,625

450,000

6.750

05/15/31

(a)

455,063

7,273,974

Insurance

–

1.5%

Acrisure

LLC

/

Acrisure

Finance,

Inc.

157,000

10.125

08/01/26

(a)

161,710

275,000

8.250

02/01/29

(a)

276,375

240,000

6.000

08/01/29

(a)

219,000

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co.-Issuer

403,000

4.250

10/15/27

(a)

378,820

244,000

6.750

10/15/27

(a)

239,120

100,000

6.750

04/15/28

(a)

100,500

30,000

5.875

11/01/29

(a)

27,938

350,000

7.000

01/15/31

(a)

352,187

AssuredPartners,

Inc.

150,000

5.625

01/15/29

(a)

139,875

Panther

Escrow

Issuer

LLC

400,000

7.125

06/01/31

(a)

404,000

2,299,525

Metals

–

0.9%

Alcoa

Nederland

Holding

BV

200,000

5.500

12/15/27

(a)

196,970

200,000

7.125

03/15/31

(a)

205,750

Arsenal

AIC

Parent

LLC

200,000

11.500

10/01/31

(a)

223,250

Kaiser

Aluminum

Corp.

150,000

4.500

06/01/31

(a)

133,125

Novelis

Corp.

451,000

4.750

01/30/30

(a)

417,175

220,000

3.875

08/15/31

(a)

189,200

1,365,470

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Metals

and

Mining

–

0.1%

Cleveland-Cliffs,

Inc.

$

200,000

6.750

%

04/15/30

(a)

$

197,750

Natural

Gas

–

2.2%

Ferrellgas

LP

/

Ferrellgas

Finance

Corp.

359,000

5.375

04/01/26

(a)

351,371

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp.

570,000

8.000

01/15/27

583,538

Hess

Midstream

Operations

LP

200,000

5.625

02/15/26

(a)

199,000

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp.

350,000

8.375

02/15/32

(a)

357,437

NuStar

Logistics

LP

193,000

6.000

06/01/26

192,035

100,000

5.625

04/28/27

98,750

Rockies

Express

Pipeline

LLC

251,000

4.950

07/15/29

(a)

233,430

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

153,000

6.000

03/01/27

(a)

150,323

111,000

5.500

01/15/28

(a)

105,866

100,000

7.375

02/15/29

(a)

100,500

300,000

6.000

09/01/31

(a)

282,750

Venture

Global

Calcasieu

Pass

LLC

100,000

6.250

01/15/30

(a)

100,125

Venture

Global

LNG,

Inc.

550,000

8.375

06/01/31

(a)

568,563

3,323,688

Other

–

0.3%

Brand

Industrial

Services,

Inc.

410,000

10.375

08/01/30

(a)

441,775

Pharmaceuticals

–

1.4%

Bausch

Health

Americas,

Inc.

200,000

9.250

04/01/26

(a)

185,000

Bausch

Health

Cos.,

Inc.

250,000

5.500

11/01/25

(a)

236,562

150,000

9.000

12/15/25

(a)

141,750

200,000

6.125

02/01/27

(a)

166,750

70,000

5.000

01/30/28

(a)

39,900

500,000

4.875

06/01/28

(a)

363,750

250,000

11.000

09/30/28

(a)

219,375

50,000

5.000

02/15/29

(a)

25,375

230,000

6.250

02/15/29

(a)

120,750

110,000

5.250

01/30/30

(a)

55,000

300,000

5.250

02/15/31

(a)

150,000

Endo

Finance

Holdings,

Inc.

400,000

8.500

04/15/31

(a)

409,500

2,113,712

REITs

and

Real

Estate

–

2.0%

Anywhere

Real

Estate

Group

LLC

/

Realogy

Co.-Issuer

Corp.

100,000

5.750

01/15/29

(a)

69,000

Brookfield

Property

REIT,

Inc.

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LL

250,000

5.750

05/15/26

(a)

245,469

Diversified

Healthcare

Trust

100,000

9.750

06/15/25

100,004

100,000

–

01/15/26

(a)(c)

86,634

100,000

4.750

02/15/28

82,324

150,000

4.375

03/01/31

109,125

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

REITs

and

Real

Estate

–

(continued)

Global

Net

Lease,

Inc.

/

Global

Net

Lease

Operating

Partnership

LP

$

150,000

3.750

%

12/15/27

(a)

$

130,814

Howard

Hughes

Corp.

(The)

150,000

5.375

08/01/28

(a)

141,750

329,000

4.375

02/01/31

(a)

281,295

Hudson

Pacific

Properties

LP

250,000

3.950

11/01/27

215,313

Kennedy-Wilson,

Inc.

50,000

4.750

03/01/29

42,687

100,000

4.750

02/01/30

82,125

241,000

5.000

03/01/31

192,499

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer

440,000

4.875

05/15/29

(a)

409,750

RLJ

Lodging

Trust

LP

200,000

3.750

07/01/26

(a)

189,250

Service

Properties

Trust

239,000

7.500

09/15/25

243,481

60,000

4.950

10/01/29

46,950

263,000

4.375

02/15/30

191,990

150,000

8.625

11/15/31

(a)

157,371

Starwood

Property

Trust,

Inc.

200,000

7.250

04/01/29

(a)

199,591

3,217,422

Rental

Equipment

–

1.2%

EquipmentShare.com,

Inc.

100,000

8.625

05/15/32

(a)

103,375

H&E

Equipment

Services,

Inc.

440,000

3.875

12/15/28

(a)

394,350

Hertz

Corp.

(The)

75,000

4.625

12/01/26

(a)

58,313

125,000

5.000

12/01/29

(a)

82,187

United

Rentals

North

America,

Inc.

228,000

5.500

05/15/27

225,033

280,000

4.875

01/15/28

270,550

281,000

3.875

02/15/31

250,090

150,000

3.750

01/15/32

128,625

200,000

6.125

03/15/34

(a)

196,250

1,708,773

Software

–

2.8%

Clarivate

Science

Holdings

Corp.

350,000

3.875

07/01/28

(a)

320,250

100,000

4.875

07/01/29

(a)

91,500

Cloud

Software

Group,

Inc.

813,000

6.500

03/31/29

(a)

773,366

650,000

9.000

09/30/29

(a)

628,063

Fair

Isaac

Corp.

450,000

4.000

06/15/28

(a)

417,375

Gen

Digital,

Inc.

450,000

6.750

09/30/27

(a)

453,938

ROBLOX

Corp.

100,000

3.875

05/01/30

(a)

87,000

SS&C

Technologies,

Inc.

412,000

5.500

09/30/27

(a)

402,000

100,000

6.500

06/01/32

(a)

100,375

UKG,

Inc.

400,000

6.875

02/01/31

(a)

404,000

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Software

–

(continued)

Veritas  U.S.,

Inc.

/

Veritas

Bermuda

Ltd.

$

500,000

7.500

%

09/01/25

(a)

$

455,753

4,133,620

Technology

–

3.7%

Arches

Buyer,

Inc.

152,000

4.250

06/01/28

(a)

133,000

334,000

6.125

12/01/28

(a)

268,870

Block,

Inc.

250,000

2.750

06/01/26

236,563

530,000

3.500

06/01/31

453,812

Entegris,

Inc.

300,000

4.375

04/15/28

(a)

280,875

100,000

5.950

06/15/30

(a)

98,500

Go

Daddy

Operating

Co

LLC

/

GD

Finance

Co.,

Inc.

450,000

5.250

12/01/27

(a)

439,875

Imola

Merger

Corp.

328,000

4.750

05/15/29

(a)

306,680

Match

Group

Holdings

II

LLC

250,000

5.000

12/15/27

(a)

237,813

400,000

4.625

06/01/28

(a)

372,500

100,000

3.625

10/01/31

(a)

83,125

McAfee

Corp.

377,000

7.375

02/15/30

(a)

350,610

NCR

Atleos

Corp.

300,000

9.500

04/01/29

(a)

324,375

Newfold

Digital

Holdings

Group,

Inc.

570,000

11.750

10/15/28

(a)

583,537

100,000

6.000

02/15/29

(a)

72,375

Presidio

Holdings,

Inc.

225,000

8.250

02/01/28

(a)

229,500

Seagate

HDD

Cayman

150,000

8.250

12/15/29

(a)

161,063

385,000

9.625

12/01/32

437,456

Uber

Technologies,

Inc.

617,000

4.500

08/15/29

(a)

582,294

Vericast

Corp.

200,000

11.000

09/15/26

(a)

212,250

Western

Digital

Corp.

200,000

4.750

02/15/26

196,000

6,061,073

Transportation

–

1.9%

American

Airlines,

Inc.

200,000

7.250

02/15/28

(a)

199,920

American

Airlines,

Inc.

/AAdvantage

Loyalty

IP

Ltd.

388,000

5.500

04/20/26

(a)

384,605

698,000

5.750

04/20/29

(a)

675,122

Fortress

Transportation

and

Infrastructure

Investors

LLC

550,000

5.500

05/01/28

(a)

531,437

160,000

7.875

12/01/30

(a)

167,400

United

Airlines,

Inc.

188,000

4.375

04/15/26

(a)

181,269

613,000

4.625

04/15/29

(a)

567,303

XPO,

Inc.

100,000

7.125

06/01/31

(a)

102,000

100,000

7.125

02/01/32

(a)

102,000

2,911,056

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Wireless

–

0.7%

Hughes

Satellite

Systems

Corp.

$

200,000

5.250

%

08/01/26

$

136,250

300,000

6.625

08/01/26

124,500

SBA

Communications

Corp.

300,000

3.875

02/15/27

284,411

220,000

3.125

02/01/29

193,600

Viasat,

Inc.

325,000

6.500

07/15/28

(a)

240,094

978,855

Wirelines

–

2.7%

Cablevision

Lightpath

LLC

200,000

5.625

09/15/28

(a)

157,000

Consolidated

Communications,

Inc.

202,000

6.500

10/01/28

(a)

171,700

Embarq

Corp.

200,000

7.995

06/01/36

62,250

Frontier

Communications

Holdings

LLC

75,000

5.875

10/15/27

(a)

72,891

500,000

5.000

05/01/28

(a)

466,875

200,000

6.750

05/01/29

(a)

183,000

273,000

5.875

11/01/29

236,486

350,000

6.000

01/15/30

(a)

304,062

260,000

8.750

05/15/30

(a)

269,100

100,000

8.625

03/15/31

(a)

102,875

Level

3

Financing,

Inc.

175,000

4.875

06/15/29

(a)

104,781

150,000

4.500

04/01/30

(a)

86,812

100,000

3.875

10/15/30

(a)

54,875

390,000

10.750

12/15/30

(a)

390,488

125,000

4.000

04/15/31

(a)

68,594

Lumen

Technologies,

Inc.

200,000

4.500

01/15/29

(a)

60,000

85,000

4.125

04/15/29

(a)

55,144

85,000

4.125

04/15/30

(a)

54,931

Uniti

Group

LP

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC

300,000

10.500

02/15/28

(a)

301,125

491,000

4.750

04/15/28

(a)

411,213

150,000

6.500

02/15/29

(a)

104,812

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp.

202,000

7.750

08/15/28

(a)

189,880

Zayo

Group

Holdings,

Inc.

420,000

4.000

03/01/27

(a)

328,650

4,237,544

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$142,796,000)

140,637,030

a

Foreign

Corporate

Debt

–

5.6%

Aerospace

&

Defense

–

0.6%

Bombardier,

Inc.

(

Canada

)

241,000

7.875

04/15/27

(a)

241,452

200,000

6.000

02/15/28

(a)

197,000

100,000

8.750

11/15/30

(a)

107,562

200,000

7.250

07/01/31

(a)

203,250

200,000

7.450

05/01/34

(a)

223,000

972,264

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Basic

Industry

–

0.7%

Methanex

Corp.

(

Canada

)

$

188,000

5.125

%

10/15/27

$

181,890

102,000

5.250

12/15/29

97,627

NOVA

Chemicals

Corp.

(

Canada

)

190,000

5.000

05/01/25

(a)

187,625

273,000

5.250

06/01/27

(a)

261,739

200,000

8.500

11/15/28

(a)

212,500

100,000

9.000

02/15/30

(a)

105,875

1,047,256

Capital

Goods

–

0.6%

ARD

Finance

SA

(

Luxembourg

)

200,000

6.500

06/30/27

(a)(b)

48,000

GFL

Environmental,

Inc.

(

United

States

)

271,000

4.250

06/01/25

(a)

268,968

250,000

3.750

08/01/25

(a)

244,062

342,000

4.750

06/15/29

(a)

320,625

100,000

6.750

01/15/31

(a)

102,375

984,030

Communications

–

0.2%

Videotron

Ltd.

(

Canada

)

300,000

5.125

04/15/27

(a)

294,750

Consumer

Cyclical

–

1.5%

1011778

BC

ULC

/

New

Red

Finance,

Inc.

(

Canada

)

301,000

3.875

01/15/28

(a)

279,930

154,000

4.375

01/15/28

(a)

144,375

212,000

3.500

02/15/29

(a)

191,065

517,000

4.000

10/15/30

(a)

451,729

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential  U.S.

LLC

(

Canada

)

100,000

6.250

09/15/27

(a)

97,500

250,000

4.875

02/15/30

(a)

219,062

Garda

World

Security

Corp.

(

Canada

)

167,000

4.625

02/15/27

(a)

159,068

135,000

9.500

11/01/27

(a)

135,000

Mattamy

Group

Corp.

(

Canada

)

186,000

5.250

12/15/27

(a)

179,955

117,000

4.625

03/01/30

(a)

106,909

Odeon

Finco

PLC

(

United

Kingdom

)

260,000

12.750

11/01/27

(a)

269,750

2,234,343

Consumer

Products

–

0.3%

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products,

Inc.

(

Canada

)

400,000

5.000

12/31/26

(a)

389,000

Energy

–

0.0%

MEG

Energy

Corp.

(

Canada

)

29,000

7.125

02/01/27

(a)

29,363

Mining

–

0.3%

Hudbay

Minerals,

Inc.

(

Canada

)

405,000

4.500

04/01/26

(a)

394,875

Natural

Gas

–

0.2%

Parkland

Corp.

(

Canada

)

347,000

4.625

05/01/30

(a)

315,336

Software

–

0.5%

Open

Text

Corp.

(

Canada

)

640,000

3.875

02/15/28

(a)

589,600

100,000

3.875

12/01/29

(a)

88,000

GOLDMAN

SACHS

ACCESS

HIGH

YIELD

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Software

–

(continued)

Open

Text

Holdings,

Inc.

(

Canada

)

$

100,000

4.125

%

12/01/31

(a)

$

86,500

764,100

Transportation

–

0.4%

Air

Canada

(

Canada

)

190,000

3.875

08/15/26

(a)

180,262

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding,

Inc.

(

Switzerland

)

200,000

7.875

05/01/27

(a)

183,750

100,000

9.500

06/01/28

(a)

91,218

200,000

6.375

02/01/30

(a)

161,000

616,230

Wireless

–

0.3%

Intelsat

Jackson

Holdings

SA

(

Luxembourg

)

485,000

6.500

03/15/30

(a)

458,931

TOTAL

FOREIGN

CORPORATE

DEBT

(Cost

$8,682,267)

8,500,478

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

1.1%

(d)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

1,752,062

5.227%

1,752,062

(Cost

$1,752,062)

TOTAL

INVESTMENTS

–

98.3%

(Cost

$153,230,329)

$

150,889,570

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

1.7%

2,637,404

NET

ASSETS

–

100.0%

$

153,526,974

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

(b)

Pay-in-kind

securities.

(c)

Issued

with

a

zero

coupon.

Income

is

recognized

through

the

accretion

of

discount.

(d)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

LP

—

Limited

Partnership

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

GOLDMAN

SACHS

ACCESS

INFLATION

PROTECTED

USD

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

U.S.

Treasury

Inflation

Indexed

Bonds

–

98.7%

a

U.S.

Treasury

Inflation

Indexed

Bonds

$

1,703,722

0.250

%

01/15/25

$

1,670,634

4,154,007

0.375

07/15/25

4,050,844

1,172,433

0.125

10/15/25

1,134,055

4,140,581

0.625

01/15/26

4,005,980

3,210,855

0.125

04/15/26

3,065,551

6,225,734

0.125

07/15/26

5,943,733

8,167,807

0.125

10/15/26

7,761,132

5,193,901

0.375

01/15/27

4,928,995

2,278,772

0.125

04/15/27

2,137,702

9,413,920

0.375

07/15/27

8,900,657

10,890,758

0.500

01/15/28

10,229,685

3,466,536

0.750

07/15/28

3,282,070

1,791,615

3.875

04/15/29

1,933,005

4,330,993

0.250

07/15/29

3,958,263

8,995,444

0.125

01/15/30

8,064,111

8,627,222

0.125

07/15/30

7,692,491

6,916,234

0.125

07/15/31

6,045,158

5,687,733

0.125

01/15/32

4,900,428

7,617,237

0.625

07/15/32

6,801,189

3,854,443

1.375

07/15/33

3,627,112

4,491,215

2.125

02/15/40

4,434,711

8,188,390

0.750

02/15/42

6,379,418

3,061,320

0.875

02/15/47

2,286,208

2,633,199

1.000

02/15/48

2,004,093

2,088,956

1.000

02/15/49

1,580,835

2,789,296

0.250

02/15/50

1,691,638

4,100,837

0.125

02/15/52

2,309,687

TOTAL

U.S.

TREASURY

INFLATION

INDEXED

BONDS

(Cost

$133,204,445)

120,819,385

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.4%

(a)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

475,624

5.227%

475,624

(Cost

$475,624)

TOTAL

INVESTMENTS

–

99.1%

(Cost

$133,680,069)

$

121,295,009

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.9%

1,134,316

NET

ASSETS

–

100.0%

$

122,429,325

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Represents

an

affiliated

issuer.

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

82.9%

Aerospace

&

Defense

–

0.1%

Boeing

Co.

(The)

$

10,000

4.875

%

05/01/25

$

9,896

Aerospace/Defense

–

2.1%

Boeing

Co.

(The)

20,000

2.196

02/04/26

18,802

40,000

5.040

05/01/27

39,164

General

Dynamics

Corp.

16,000

1.150

06/01/26

14,800

Huntington

Ingalls

Industries,

Inc.

20,000

3.483

12/01/27

18,725

Lockheed

Martin

Corp.

50,000

3.550

01/15/26

48,698

RTX

Corp.

40,000

5.750

01/15/29

41,029

Textron,

Inc.

13,000

3.650

03/15/27

12,426

193,644

Banks

–

22.8%

American

Express

Co.

50,000

4.900

02/13/26

49,642

51,000

3.125

05/20/26

48,939

20,000

5.850

11/05/27

20,485

Bank

of

America

Corp.

(

SOFR

+

1.290%

)

80,000

5.080

01/20/27

(a)

79,578

(

SOFR

+

0.960%

)

32,000

1.734

07/22/27

(a)

29,443

(

SOFR

+

1.580%

)

32,000

4.376

04/27/28

(a)

31,149

(

SOFR

+

1.630%

)

30,000

5.202

04/25/29

(a)

29,875

Bank

of

America

Corp.

,

GMTN

(

3M

U.S.

T-Bill

MMY  +

1.632

)

40,000

3.593

07/21/28

(a)

38,001

Bank

of

America

Corp.

,

MTN

(

SOFR

+

1.010%

)

21,000

1.197

10/24/26

(a)

19,772

(

3M

U.S.

T-Bill

MMY

+

1.322%

)

25,000

3.559

04/23/27

(a)

24,124

(

SOFR

+

2.040%

)

50,000

4.948

07/22/28

(a)

49,408

(

3M

U.S.

T-Bill

MMY  +

1.572

)

60,000

4.271

07/23/29

(a)

57,681

Bank

of

America

Corp.

,

Series

N

(

SOFR

+

0.910%

)

17,000

1.658

03/11/27

(a)

15,914

Bank

of

New

York

Mellon

Corp.

(The)

,

MTN

20,000

1.600

04/24/25

19,340

68,000

3.400

01/29/28

64,208

(

3M

U.S.

T-Bill

MMY  +

1.331

)

34,000

3.442

02/07/28

(a)

32,490

Capital

One

Financial

Corp.

(

SOFR

+

2.080%

)

20,000

5.468

02/01/29

(a)

19,850

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

SOFR

+

2.640%

)

$

60,000

6.312

%

06/08/29

(a)

$

61,053

(

SOFR

+

1.905%

)

50,000

5.700

02/01/30

(a)

49,882

Citizens

Financial

Group,

Inc.

50,000

2.850

07/27/26

47,082

Fifth

Third

Bancorp

20,000

2.550

05/05/27

18,560

Huntington

Bancshares,

Inc.

(

SOFR

+

2.020%

)

40,000

6.208

08/21/29

(a)

40,854

JPMorgan

Chase

&

Co.

27,000

3.200

06/15/26

25,974

30,000

2.950

10/01/26

28,524

(

SOFR

+

0.800%

)

17,000

1.045

11/19/26

(a)

15,912

(

SOFR

+

0.885%

)

25,000

1.578

04/22/27

(a)

23,257

(

SOFR

+

1.170%

)

25,000

2.947

02/24/28

(a)

23,474

(

SOFR

+

1.560%

)

47,000

4.323

04/26/28

(a)

45,774

(

SOFR

+

1.990%

)

40,000

4.851

07/25/28

(a)

39,466

(

SOFR

+

1.015%

)

30,000

2.069

06/01/29

(a)

26,378

(

3M

U.S.

T-Bill

MMY  +

1.522

)

20,000

4.203

07/23/29

(a)

19,178

(

SOFR

+

1.450%

)

80,000

5.299

07/24/29

(a)

79,577

(

SOFR

+

1.570%

)

50,000

6.087

10/23/29

(a)

51,484

Morgan

Stanley

(

SOFR

+

1.990%

)

34,000

2.188

04/28/26

(a)

32,971

(

SOFR

+

1.770%

)

50,000

6.138

10/16/26

(a)

50,304

(

SOFR

+

1.295%

)

20,000

5.050

01/28/27

(a)

19,846

20,000

3.591

07/22/28

(a)

18,978

(

SOFR

+

2.240%

)

40,000

6.296

10/18/28

(a)

41,027

Morgan

Stanley

,

GMTN

20,000

3.875

01/27/26

19,484

Morgan

Stanley

,

MTN

(

SOFR

+

0.940%

)

28,000

2.630

02/18/26

(a)

27,409

(

SOFR

+

1.590%

)

100,000

5.164

04/20/29

(a)

99,420

PNC

Financial

Services

Group,

Inc.

(The)

(

SOFR

+

1.620%

)

20,000

5.354

12/02/28

(a)

19,930

(

SOFR

+

1.841%

)

50,000

5.582

06/12/29

(a)

50,404

Santander

Holdings

USA,

Inc.

45,000

3.450

06/02/25

43,954

(

SOFR

+

1.249%

)

20,000

2.490

01/06/28

(a)

18,262

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

SOFR

+

2.356%

)

$

20,000

6.499

%

03/09/29

(a)

$

20,446

Synchrony

Financial

20,000

3.950

12/01/27

18,731

Truist

Financial

Corp.

,

MTN

(

SOFR

+

2.446%

)

30,000

7.161

10/30/29

(a)

31,789

(

SOFR

+

1.620%

)

30,000

5.435

01/24/30

(a)

29,835

U.S.

Bancorp

,

MTN

40,000

3.950

11/17/25

39,160

(

SOFR

+

0.730%

)

10,000

2.215

01/27/28

(a)

9,209

(

SOFR

+

1.660%

)

8,000

4.548

07/22/28

(a)

7,785

U.S.

Bancorp

,

Series

X

21,000

3.150

04/27/27

19,916

US

Bancorp

(

SOFR

+

2.020%

)

30,000

5.775

06/12/29

(a)

30,207

Wells

Fargo

&

Co.

6,000

3.000

04/22/26

5,733

23,000

3.000

10/23/26

21,752

(

SOFR

+

1.790%

)

50,000

6.303

10/23/29

(a)

51,607

(

SOFR

+

1.500%

)

50,000

5.198

01/23/30

(a)

49,418

Wells

Fargo

&

Co.

,

MTN

(

3M

U.S.

T-Bill

MMY  +

1.432

)

11,000

3.196

06/17/27

(a)

10,529

(

SOFR

+

1.510%

)

16,000

3.526

03/24/28

(a)

15,205

(

3M

U.S.

T-Bill

MMY

+

1.572%

)

15,000

3.584

05/22/28

(a)

14,252

(

SOFR

+

2.100%

)

15,000

2.393

06/02/28

(a)

13,777

(

SOFR

+

1.980%

)

16,000

4.808

07/25/28

(a)

15,746

(

SOFR

+

1.740%

)

50,000

5.574

07/25/29

(a)

50,347

2,123,761

Basic

Industry

–

0.3%

Linde,

Inc.

24,000

3.200

01/30/26

23,225

Broadcasting

–

0.2%

Discovery

Communications

LLC

20,000

3.950

03/20/28

18,745

Building

Materials

–

0.6%

Stanley

Black

&

Decker,

Inc.

40,000

3.400

03/01/26

38,594

Vulcan

Materials

Co.

20,000

4.500

04/01/25

19,815

58,409

Capital

Goods

–

2.5%

Berry

Global,

Inc.

20,000

1.650

01/15/27

18,123

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Capital

Goods

–

(continued)

John

Deere

Capital

Corp.

,

MTN

$

20,000

4.750

%

01/20/28

$

19,892

20,000

1.500

03/06/28

17,652

Otis

Worldwide

Corp.

30,000

2.293

04/05/27

27,807

Republic

Services,

Inc.

9,000

2.900

07/01/26

8,612

Roper

Technologies,

Inc.

16,000

1.000

09/15/25

15,093

16,000

3.850

12/15/25

15,618

Trane

Technologies

Financing

Ltd.

40,000

3.500

03/21/26

38,759

Waste

Management,

Inc.

20,000

7.000

07/15/28

21,546

Westinghouse

Air

Brake

Technologies

Corp.

16,000

3.200

06/15/25

15,600

20,000

4.700

09/15/28

19,553

Xylem,

Inc.

20,000

1.950

01/30/28

17,893

236,148

Communications

–

1.9%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4,000

4.908

07/23/25

3,958

20,000

5.050

03/30/29

19,169

Comcast

Corp.

40,000

5.350

11/15/27

40,448

40,000

3.550

05/01/28

37,793

TWDC

Enterprises

18

Corp.

,

MTN

8,000

1.850

07/30/26

7,453

Walt

Disney

Co.

(The)

40,000

3.700

03/23/27

38,707

Warnermedia

Holdings,

Inc.

30,000

4.054

03/15/29

27,670

175,198

Consumer

Cyclical

–

10.1%

Amazon.com,

Inc.

15,000

4.550

12/01/27

14,863

American

Honda

Finance

Corp.

20,000

5.650

11/15/28

20,442

American

Honda

Finance

Corp.

,

GMTN

20,000

3.500

02/15/28

18,944

American

Honda

Finance

Corp.

,

MTN

13,000

1.200

07/08/25

12,419

Booking

Holdings,

Inc.

43,000

3.600

06/01/26

41,703

Dollar

Tree,

Inc.

30,000

4.200

05/15/28

28,770

DR

Horton,

Inc.

10,000

1.300

10/15/26

9,098

Ford

Motor

Co.

50,000

4.346

12/08/26

48,571

50,000

6.625

10/01/28

51,942

General

Motors

Co.

34,000

6.800

10/01/27

35,268

General

Motors

Financial

Co.,

Inc.

40,000

4.350

04/09/25

39,544

21,000

1.250

01/08/26

19,637

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

General

Motors

Financial

Co.,

Inc.

–

(continued)

$

20,000

2.700

%

08/20/27

$

18,430

30,000

3.850

01/05/28

28,394

Global

Payments,

Inc.

40,000

1.200

03/01/26

37,076

10,000

4.450

06/01/28

9,631

Home

Depot,

Inc.

(The)

40,000

4.000

09/15/25

39,377

21,000

2.800

09/14/27

19,654

Las

Vegas

Sands

Corp.

10,000

3.500

08/18/26

9,502

Lennar

Corp.

20,000

4.750

11/29/27

19,775

Lowe's

Cos.,

Inc.

50,000

4.800

04/01/26

49,640

20,000

1.700

09/15/28

17,397

Marriott

International,

Inc.

,

Series

EE

8,000

5.750

05/01/25

8,004

McDonald's

Corp.

,

MTN

40,000

3.500

03/01/27

38,349

Starbucks

Corp.

16,000

2.000

03/12/27

14,718

20,000

3.500

03/01/28

18,922

Toll

Brothers

Finance

Corp.

16,000

4.875

11/15/25

15,880

Toyota

Motor

Credit

Corp.

50,000

5.400

11/20/26

50,267

Toyota

Motor

Credit

Corp.

,

MTN

16,000

0.800

01/09/26

14,914

40,000

3.050

03/22/27

37,826

Visa,

Inc.

40,000

0.750

08/15/27

35,309

50,000

2.750

09/15/27

46,780

Walmart,

Inc.

50,000

3.900

09/09/25

49,254

24,000

1.050

09/17/26

22,017

942,317

Consumer

Noncyclical

–

3.2%

Abbott

Laboratories

20,000

1.150

01/30/28

17,591

AbbVie,

Inc.

30,000

4.800

03/15/27

29,823

30,000

4.800

03/15/29

29,755

Bristol-Myers

Squibb

Co.

50,000

4.900

02/22/29

49,716

Centene

Corp.

20,000

4.250

12/15/27

19,125

Eli

Lilly

&

Co.

24,000

3.100

05/15/27

22,864

Gilead

Sciences,

Inc.

20,000

1.200

10/01/27

17,705

Johnson

&

Johnson

30,000

2.900

01/15/28

28,232

Merck

&

Co.,

Inc.

16,000

0.750

02/24/26

14,882

Merck

Sharp

&

Dohme

Corp.

20,000

6.400

03/01/28

20,990

Philip

Morris

International,

Inc.

30,000

4.875

02/15/28

29,681

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Noncyclical

–

(continued)

Utah

Acquisition

Sub,

Inc.

$

13,000

3.950

%

06/15/26

$

12,560

292,924

Consumer

Products

–

0.8%

Kenvue,

Inc.

20,000

5.050

03/22/28

20,058

Procter

&

Gamble

Co.

(The)

50,000

4.100

01/26/26

49,319

8,000

1.900

02/01/27

7,427

76,804

Electric

–

7.1%

Black

Hills

Corp.

20,000

5.950

03/15/28

20,414

Dominion

Energy,

Inc.

,

Series

A

20,000

3.300

03/15/25

19,618

17,000

1.450

04/15/26

15,798

DTE

Electric

Co.

20,000

3.375

03/01/25

19,659

DTE

Energy

Co.

20,000

4.875

06/01/28

19,707

DTE

Energy

Co.

,

Series

F

24,000

1.050

06/01/25

22,973

Duke

Energy

Corp.

20,000

0.900

09/15/25

18,871

16,000

2.650

09/01/26

15,098

40,000

4.300

03/15/28

38,782

Edison

International

14,000

4.125

03/15/28

13,338

Exelon

Corp.

11,000

3.400

04/15/26

10,643

30,000

5.150

03/15/28

29,901

FirstEnergy

Corp.

,

Series

B

20,000

4.150

07/15/27

19,087

National

Rural

Utilities

Cooperative

Finance

Corp.

,

MTN

40,000

3.450

06/15/25

39,147

NextEra

Energy

Capital

Holdings,

Inc.

40,000

4.900

02/28/28

39,622

NSTAR

Electric

Co.

50,000

2.700

06/01/26

47,325

Pacific

Gas

and

Electric

Co.

7,000

3.450

07/01/25

6,830

28,000

3.300

03/15/27

26,376

20,000

5.450

06/15/27

19,978

Public

Service

Co.

of

Colorado

30,000

2.900

05/15/25

29,309

Public

Service

Electric

and

Gas

Co.

,

MTN

30,000

3.650

09/01/28

28,428

San

Diego

Gas

&

Electric

Co.

40,000

6.000

06/01/26

40,522

Southern

California

Edison

Co.

15,000

5.850

11/01/27

15,297

Southern

Co.

(The)

16,000

3.250

07/01/26

15,362

Southern

Co.

Gas

Capital

Corp.

16,000

3.875

11/15/25

15,617

Southern

Power

Co.

50,000

0.900

01/15/26

46,439

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

Southwestern

Electric

Power

Co.

,

Series

M

$

30,000

4.100

%

09/15/28

$

28,456

662,597

Electrical

–

0.2%

Hubbell,

Inc.

22,000

3.500

02/15/28

20,739

Energy

–

5.9%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co.-Obligor,

Inc.

15,000

3.337

12/15/27

14,115

Boardwalk

Pipelines

LP

40,000

4.450

07/15/27

38,959

Chevron

Corp.

35,000

1.995

05/11/27

32,262

DCP

Midstream

Operating

LP

26,000

5.375

07/15/25

25,968

Energy

Transfer

LP

40,000

4.750

01/15/26

39,502

40,000

5.550

02/15/28

40,272

Exxon

Mobil

Corp.

24,000

3.043

03/01/26

23,184

13,000

2.275

08/16/26

12,253

Hercules

Capital,

Inc.

20,000

3.375

01/20/27

18,402

Kinder

Morgan,

Inc.

16,000

4.300

06/01/25

15,793

20,000

5.000

02/01/29

19,721

Marathon

Petroleum

Corp.

11,000

4.700

05/01/25

10,895

MPLX

LP

12,000

1.750

03/01/26

11,251

Occidental

Petroleum

Corp.

50,000

5.875

09/01/25

50,026

ONEOK,

Inc.

24,000

5.000

03/01/26

23,812

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

16,000

4.650

10/15/25

15,790

Sabine

Pass

Liquefaction

LLC

31,000

5.000

03/15/27

30,768

Targa

Resources

Corp.

20,000

6.150

03/01/29

20,549

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

40,000

6.500

07/15/27

40,325

Western

Midstream

Operating

LP

16,000

3.950

06/01/25

15,708

Williams

Cos.,

Inc.

(The)

54,000

4.000

09/15/25

53,020

552,575

Financial

Company

–

3.1%

Air

Lease

Corp.

37,000

3.625

04/01/27

35,246

20,000

3.625

12/01/27

18,838

Air

Lease

Corp.

,

GMTN

40,000

3.750

06/01/26

38,586

Ally

Financial,

Inc.

30,000

4.625

03/30/25

29,690

15,000

7.100

11/15/27

15,585

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Financial

Company

–

(continued)

Ares

Capital

Corp.

$

17,000

2.875

%

06/15/27

$

15,617

Bain

Capital

Specialty

Finance,

Inc.

20,000

2.950

03/10/26

18,826

20,000

2.550

10/13/26

18,415

BGC

Group,

Inc.

40,000

4.375

12/15/25

38,959

FS

KKR

Capital

Corp.

16,000

3.250

07/15/27

14,519

GATX

Corp.

50,000

3.850

03/30/27

47,888

292,169

Food

and

Beverage

–

1.0%

Campbell

Soup

Co.

20,000

4.150

03/15/28

19,296

Coca-Cola

Co.

(The)

50,000

1.500

03/05/28

44,458

McCormick

&

Co.,

Inc.

16,000

0.900

02/15/26

14,840

PepsiCo,

Inc.

11,000

2.850

02/24/26

10,607

89,201

Hardware

–

0.5%

CDW

LLC

/

CDW

Finance

Corp.

50,000

4.125

05/01/25

49,000

Healthcare

–

3.5%

Cigna

Group

(The)

50,000

1.250

03/15/26

46,521

CVS

Health

Corp.

13,000

3.000

08/15/26

12,367

50,000

4.300

03/25/28

48,221

Evernorth

Health,

Inc.

40,000

4.500

02/25/26

39,354

HCA,

Inc.

16,000

4.500

02/15/27

15,600

40,000

5.875

02/01/29

40,550

Illumina,

Inc.

50,000

5.800

12/12/25

49,962

Quest

Diagnostics,

Inc.

16,000

3.450

06/01/26

15,445

UnitedHealth

Group,

Inc.

16,000

3.375

04/15/27

15,323

40,000

5.250

02/15/28

40,425

323,768

Insurance

–

2.0%

Berkshire

Hathaway

Finance

Corp.

40,000

2.300

03/15/27

37,416

Horace

Mann

Educators

Corp.

30,000

7.250

09/15/28

31,542

Lincoln

National

Corp.

30,000

3.800

03/01/28

28,464

Loews

Corp.

50,000

3.750

04/01/26

48,640

Prudential

Financial,

Inc.

(

3M

USD

LIBOR

+

2.665%

)

20,000

5.700

09/15/48

(a)

19,725

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Insurance

–

(continued)

Radian

Group,

Inc.

$

20,000

4.875

%

03/15/27

$

19,475

185,262

Media

Non

Cable

–

0.2%

Netflix,

Inc.

16,000

4.375

11/15/26

15,768

Mining

–

0.1%

Freeport-McMoRan,

Inc.

10,000

4.125

03/01/28

9,550

Pharmaceuticals

–

0.2%

Viatris,

Inc.

16,000

2.300

06/22/27

14,525

REITs

and

Real

Estate

–

2.8%

AvalonBay

Communities,

Inc.

,

MTN

20,000

3.200

01/15/28

18,746

Boston

Properties

LP

20,000

4.500

12/01/28

18,853

Brixmor

Operating

Partnership

LP

20,000

3.900

03/15/27

19,133

EPR

Properties

8,000

4.500

06/01/27

7,623

Equinix,

Inc.

23,000

1.800

07/15/27

20,666

ERP

Operating

LP

16,000

3.375

06/01/25

15,658

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

9,000

5.375

04/15/26

8,929

Realty

Income

Corp.

35,000

5.050

01/13/26

34,782

Simon

Property

Group

LP

16,000

3.500

09/01/25

15,625

16,000

3.300

01/15/26

15,488

Ventas

Realty

LP

20,000

4.400

01/15/29

19,149

VICI

Properties

LP

50,000

4.375

05/15/25

49,335

Welltower

OP

LLC

16,000

4.000

06/01/25

15,737

259,724

REVENUE

–

0.3%

CommonSpirit

Health

16,000

1.547

10/01/25

15,134

SSM

Health

Care

Corp.

10,000

4.894

06/01/28

9,901

25,035

Software

–

0.9%

Oracle

Corp.

35,000

1.650

03/25/26

32,763

50,000

3.250

11/15/27

47,004

79,767

Technology

–

5.3%

Apple,

Inc.

32,000

3.350

02/09/27

30,772

50,000

4.000

05/10/28

48,907

Autodesk,

Inc.

22,000

3.500

06/15/27

20,981

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

$

17,000

3.875

%

01/15/27

$

16,413

Cisco

Systems,

Inc.

35,000

4.800

02/26/27

34,886

Dell

International

LLC

/

EMC

Corp.

35,000

5.250

02/01/28

35,165

Fiserv,

Inc.

12,000

3.850

06/01/25

11,769

24,000

3.200

07/01/26

22,986

Hewlett

Packard

Enterprise

Co.

15,000

4.900

10/15/25

14,858

Intel

Corp.

40,000

4.875

02/10/28

39,714

International

Business

Machines

Corp.

46,000

6.220

08/01/27

47,512

Intuit,

Inc.

16,000

1.350

07/15/27

14,311

Jabil,

Inc.

40,000

4.250

05/15/27

38,666

Keysight

Technologies,

Inc.

8,000

4.600

04/06/27

7,831

Microsoft

Corp.

31,000

3.300

02/06/27

29,863

Motorola

Solutions,

Inc.

13,000

7.500

05/15/25

13,207

TD

SYNNEX

Corp.

10,000

2.375

08/09/28

8,832

VeriSign,

Inc.

28,000

5.250

04/01/25

27,790

VMware

LLC

20,000

4.500

05/15/25

19,794

Vontier

Corp.

10,000

2.400

04/01/28

8,787

493,044

Transportation

–

1.3%

CSX

Corp.

17,000

3.250

06/01/27

16,144

Ryder

System,

Inc.

,

MTN

5,000

1.750

09/01/26

4,609

8,000

2.900

12/01/26

7,534

20,000

5.650

03/01/28

20,248

Union

Pacific

Corp.

17,000

3.250

08/15/25

16,569

Union

Pacific

Railroad

Co.

Pass-Through

Trust

,

Series

14-1

32,800

3.227

05/14/26

31,565

United

Airlines,

Inc.

Pass-Through

Trust

,

Series

20-1

11,570

5.875

10/15/27

11,626

United

Airlines,

Inc.

Pass-Through

Trust

,

Series

A

14,793

4.300

08/15/25

14,539

122,834

Water

–

0.2%

American

Water

Capital

Corp.

20,000

3.750

09/01/28

18,976

Wireless

–

3.7%

American

Tower

Corp.

13,000

3.375

10/15/26

12,410

40,000

5.500

03/15/28

40,189

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Wireless

–

(continued)

AT&T,

Inc.

$

30,000

5.539

%

02/20/26

$

29,993

21,000

1.700

03/25/26

19,643

10,000

1.650

02/01/28

8,850

20,000

4.350

03/01/29

19,273

Crown

Castle,

Inc.

35,000

5.000

01/11/28

34,500

Sprint

LLC

30,000

7.625

03/01/26

30,769

T-Mobile

USA,

Inc.

16,000

3.750

04/15/27

15,368

70,000

2.050

02/15/28

62,657

Verizon

Communications,

Inc.

25,000

2.100

03/22/28

22,439

50,000

4.329

09/21/28

48,449

344,540

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$7,780,948)

7,710,145

a

Foreign

Corporate

Debt

–

15.4%

Banks

–

10.6%

Bank

of

Montreal

(

Canada

)

30,000

5.203

02/01/28

30,035

25,000

5.717

09/25/28

25,501

Bank

of

Nova

Scotia

(The)

(

Canada

)

17,000

1.050

03/02/26

15,792

17,000

2.700

08/03/26

16,067

50,000

2.951

03/11/27

47,088

Barclays

PLC

(

United

Kingdom

)

(

3M

USD

LIBOR

+

1.902%

)

200,000

4.972

05/16/29

(a)

194,920

Canadian

Imperial

Bank

of

Commerce

(

Canada

)

40,000

5.001

04/28/28

39,615

HSBC

Holdings

PLC

(

United

Kingdom

)

(

SOFR

+

1.970%

)

200,000

6.161

03/09/29

(a)

204,365

Mitsubishi

UFJ

Financial

Group,

Inc.

(

Japan

)

100,000

3.777

03/02/25

98,680

20,000

3.287

07/25/27

18,917

Royal

Bank

of

Canada

(

Canada

)

31,000

3.625

05/04/27

29,746

Royal

Bank

of

Canada

,

GMTN

(

Canada

)

40,000

1.150

07/14/26

36,700

20,000

4.240

08/03/27

19,483

Sumitomo

Mitsui

Financial

Group,

Inc.

(

Japan

)

20,000

3.446

01/11/27

19,128

30,000

3.352

10/18/27

28,258

50,000

3.544

01/17/28

47,078

20,000

3.944

07/19/28

19,113

Westpac

Banking

Corp.

(

Australia

)

23,000

1.150

06/03/26

21,256

70,000

5.457

11/18/27

70,963

982,705

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Brokerage

–

0.5%

Brookfield

Finance,

Inc.

(

Canada

)

$

50,000

3.900

%

01/25/28

$

47,870

Consumer

Cyclical

–

0.8%

Magna

International,

Inc.

(

Canada

)

50,000

4.150

10/01/25

49,093

Toyota

Motor

Corp.

(

Japan

)

28,000

1.339

03/25/26

26,189

75,282

Consumer

Noncyclical

–

0.5%

AstraZeneca

PLC

(

United

Kingdom

)

50,000

3.375

11/16/25

48,750

Energy

–

1.0%

Canadian

Natural

Resources

Ltd.

(

Canada

)

50,000

2.050

07/15/25

47,990

Enbridge,

Inc.

(

Canada

)

(

3M

U.S.

T-Bill

MMY

+

3.903%

)

16,000

6.250

03/01/78

(a)

15,260

TransCanada

PipeLines

Ltd.

(

Canada

)

30,000

6.203

03/09/26

29,868

93,118

Financial

Company

–

0.3%

ORIX

Corp.

(

Japan

)

30,000

5.000

09/13/27

29,640

Food

and

Beverage

–

0.6%

Anheuser-Busch

InBev

Worldwide,

Inc.

(

Belgium

)

50,000

4.750

01/23/29

49,635

Insurance

–

0.6%

Manulife

Financial

Corp.

(

Canada

)

60,000

2.484

05/19/27

55,618

Oil

Company-Integrated

–

0.1%

Ecopetrol

SA

(

Colombia

)

10,000

8.625

01/19/29

10,467

Technology

–

0.4%

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

(

China

)

40,000

3.875

06/18/26

38,897

TOTAL

FOREIGN

CORPORATE

DEBT

(Cost

$1,430,723)

1,431,982

TOTAL

INVESTMENTS

–

98.3%

(Cost

$9,211,671)

$

9,142,127

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

1.7%

156,154

NET

ASSETS

–

100.0%

$

9,298,281

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Variable

rate

security.

Interest

rate

or

distribution

rate

disclosed

is

that

which

is

in

effect

on

May

31,

2024.

Investment

Abbreviations:

GMTN

—

Global

Medium

Term

Note

LIBOR

—

London

Interbank

Offered

Rate

LP

—

Limited

Partnership

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

1-5

YEAR

BOND

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Investment

Abbreviations:

(continued)

MMY

—

Money

Market

Yield

MTN

—

Medium

Term

Note

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

SOFR

—

Secured

Overnight

Financing

Rate

T-Bill

—

Treasury

Bill

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

80.5%

Aerospace

&

Defense

–

2.1%

Boeing

Co.

(The)

$

300,000

2.196

%

02/04/26

$

282,027

262,000

2.700

02/01/27

240,509

540,000

3.250

02/01/28

492,604

360,000

3.200

03/01/29

316,107

262,000

2.950

02/01/30

223,276

1,400,000

5.150

05/01/30

1,332,452

450,000

3.625

02/01/31

392,138

480,000

3.600

05/01/34

381,591

300,000

3.250

02/01/35

225,893

800,000

5.705

05/01/40

733,469

249,000

3.900

05/01/49

167,656

270,000

3.750

02/01/50

177,610

1,000,000

5.805

05/01/50

900,532

990,000

6.858

05/01/54

(a)

1,006,463

500,000

5.930

05/01/60

444,321

General

Dynamics

Corp.

600,000

3.500

04/01/27

577,094

250,000

4.250

04/01/40

220,076

384,000

4.250

04/01/50

321,983

L3Harris

Technologies,

Inc.

620,000

4.400

06/15/28

600,104

Lockheed

Martin

Corp.

250,000

5.100

11/15/27

251,377

620,000

5.250

01/15/33

628,286

1,000,000

4.750

02/15/34

970,247

193,000

4.070

12/15/42

162,543

260,000

3.800

03/01/45

206,228

100,000

4.700

05/15/46

90,244

168,000

4.090

09/15/52

134,652

220,000

4.150

06/15/53

177,703

200,000

5.700

11/15/54

206,126

148,000

5.900

11/15/63

156,066

RTX

Corp.

330,000

5.750

11/08/26

333,143

1,600,000

6.000

03/15/31

1,659,458

1,000,000

6.100

03/15/34

1,047,591

520,000

4.500

06/01/42

451,329

960,000

4.150

05/15/45

774,804

300,000

4.625

11/16/48

258,941

16,544,643

Agriculture

–

0.2%

Archer-Daniels-Midland

Co.

462,000

3.250

03/27/30

418,744

500,000

2.900

03/01/32

424,595

JBS

USA

Holding

Lux

Sarl/

JBS

USA

Food

Co/

JBS

Lux

Co.

Sarl

250,000

2.500

01/15/27

230,625

100,000

3.000

05/15/32

81,375

200,000

5.750

04/01/33

197,500

150,000

7.250

11/15/53

(a)

164,625

1,517,464

Banks

–

18.1%

American

Express

Co.

649,000

4.200

11/06/25

638,989

660,000

4.900

02/13/26

655,273

470,000

3.125

05/20/26

451,004

250,000

1.650

11/04/26

229,370

300,000

3.300

05/03/27

285,085

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

American

Express

Co.

–

(continued)

$

200,000

5.850

%

11/05/27

$

204,855

600,000

4.050

05/03/29

575,181

200,000

4.050

12/03/42

168,317

(

SOFR

+

1.330%

)

850,000

6.338

10/30/26

(b)

860,107

(

SOFR

+

0.970%

)

200,000

5.389

07/28/27

(b)

200,054

(

SOFRINDX

+

1.280%

)

1,000,000

5.282

07/27/29

(b)

998,912

(

SOFR

+

2.255%

)

192,000

4.989

05/26/33

(b)

184,481

Bank

of

America

Corp.

(

SOFR

+

0.960%

)

1,739,000

1.734

07/22/27

(b)

1,600,025

(

SOFR

+

1.340%

)

660,000

5.933

09/15/27

(b)

664,189

(

3M

U.S.

T-Bill

MMY  +

1.774

)

485,000

3.705

04/24/28

(b)

460,959

(

SOFR

+

1.990%

)

720,000

6.204

11/10/28

(b)

741,910

(

3M

U.S.

T-Bill

MMY  +

1.302%

)

1,148,000

3.419

12/20/28

(b)

1,073,904

(

SOFR

+

2.150%

)

519,000

2.592

04/29/31

(b)

445,844

(

SOFR

+

1.320%

)

1,070,000

2.687

04/22/32

(b)

896,124

(

SOFR

+

1.220%

)

882,000

2.299

07/21/32

(b)

715,278

(

SOFR

+

1.210%

)

700,000

2.572

10/20/32

(b)

578,230

(

SOFR

+

1.910%

)

930,000

5.288

04/25/34

(b)

919,633

(

US

5

Year

CMT

T-Note

+

1.200%

)

234,000

2.482

09/21/36

(b)

187,485

860,000

6.110

01/29/37

893,418

370,000

7.750

05/14/38

441,099

(

US

5

Year

CMT

T-Note

+

2.000%

)

100,000

3.846

03/08/37

(b)

87,522

(

3M

U.S.

T-Bill

MMY  +

2.076%

)

418,000

4.244

04/24/38

(b)

368,840

(

SOFR

+

1.580%

)

619,000

3.311

04/22/42

(b)

467,994

(

3M

U.S.

T-Bill

MMY  +

1.452

)

210,000

3.946

01/23/49

(b)

165,754

Bank

of

America

Corp.

,

GMTN

320,000

3.500

04/19/26

309,921

(

3M

U.S.

T-Bill

MMY  +

1.632

)

588,000

3.593

07/21/28

(b)

558,609

Bank

of

America

Corp.

,

MTN

215,000

3.875

08/01/25

211,396

253,000

4.450

03/03/26

248,043

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Bank

of

America

Corp.,

MTN

–

(continued)

$

423,000

4.250

%

10/22/26

$

411,923

594,000

3.248

10/21/27

558,439

248,000

5.875

02/07/42

261,220

334,000

5.000

01/21/44

315,631

(

SOFR

+

1.150%

)

1,718,000

1.319

06/19/26

(b)

1,642,089

(

SOFR

+

1.750%

)

300,000

4.827

07/22/26

(b)

297,237

(

SOFR

+

1.010%

)

960,000

1.197

10/24/26

(b)

903,866

(

3M

U.S.

T-Bill

MMY  +

1.322%

)

760,000

3.559

04/23/27

(b)

733,365

(

3M

U.S.

T-Bill

MMY  +

1.837

)

628,000

3.824

01/20/28

(b)

604,296

(

SOFR

+

1.050%

)

490,000

2.551

02/04/28

(b)

454,055

(

SOFR

+

2.040%

)

900,000

4.948

07/22/28

(b)

889,344

(

3M

U.S.

T-Bill

MMY  +

1.332

)

150,000

3.970

03/05/29

(b)

142,863

(

SOFR

+

1.060%

)

680,000

2.087

06/14/29

(b)

597,239

(

3M

U.S.

T-Bill

MMY  +

1.572

)

1,445,000

4.271

07/23/29

(b)

1,389,155

(

3M

U.S.

T-Bill

MMY  +

1.472%

)

504,000

3.974

02/07/30

(b)

474,152

(

3M

U.S.

T-Bill

MMY  +

1.442

)

200,000

3.194

07/23/30

(b)

180,722

(

3M

U.S.

T-Bill

MMY  +

1.452

)

281,000

2.884

10/22/30

(b)

248,294

(

3M

U.S.

T-Bill

MMY  +

1.252%

)

525,000

2.496

02/13/31

(b)

449,683

(

SOFR

+

1.530%

)

830,000

1.898

07/23/31

(b)

677,007

(

SOFR

+

1.370%

)

600,000

1.922

10/24/31

(b)

487,097

(

SOFR

+

1.330%

)

622,000

2.972

02/04/33

(b)

522,570

(

3M

U.S.

T-Bill

MMY  +

1.582

)

208,000

4.078

04/23/40

(b)

176,087

(

SOFR

+

1.930%

)

704,000

2.676

06/19/41

(b)

494,051

(

3M

U.S.

T-Bill

MMY  +

2.252

)

354,000

4.443

01/20/48

(b)

302,502

(

3M

U.S.

T-Bill

MMY  +

1.782

)

477,000

4.330

03/15/50

(b)

398,384

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

3M

U.S.

T-Bill

MMY  +

3.412%

)

$

2,826,000

4.083

%

03/20/51

(b)

$

2,258,272

Bank

of

America

Corp.

,

Series

L

1,123,000

4.183

11/25/27

1,082,827

Bank

of

America

Corp.

,

Series

N

(

SOFR

+

1.220%

)

500,000

2.651

03/11/32

(b)

418,857

Bank

of

America

NA

250,000

5.526

08/18/26

251,607

500,000

6.000

10/15/36

520,352

Bank

of

New

York

Mellon

Corp.

(The)

,

MTN

50,000

2.800

05/04/26

47,828

1,000,000

2.050

01/26/27

926,604

290,000

3.250

05/16/27

276,177

636,000

3.400

01/29/28

600,538

372,000

3.850

04/28/28

357,564

144,000

3.300

08/23/29

131,056

(

3M

U.S.

T-Bill

MMY  +

1.331

)

1,087,000

3.442

02/07/28

(b)

1,038,724

(

SOFR

+

1.845%

)

810,000

6.474

10/25/34

(b)

872,777

Capital

One

Financial

Corp.

50,000

4.200

10/29/25

49,006

450,000

3.750

03/09/27

430,744

300,000

3.650

05/11/27

286,651

690,000

3.800

01/31/28

653,754

(

SOFR

+

2.160%

)

150,000

4.985

07/24/26

(b)

148,644

(

SOFR

+

0.855%

)

200,000

1.878

11/02/27

(b)

182,185

(

SOFR

+

2.057%

)

250,000

4.927

05/10/28

(b)

246,526

(

SOFR

+

2.080%

)

200,000

5.468

02/01/29

(b)

198,502

(

SOFR

+

2.640%

)

1,000,000

6.312

06/08/29

(b)

1,017,548

(

SOFR

+

1.337%

)

180,000

2.359

07/29/32

(b)

140,621

(

SOFR

+

2.370%

)

1,200,000

5.268

05/10/33

(b)

1,158,970

(

SOFR

+

2.600%

)

1,000,000

5.817

02/01/34

(b)

988,023

(

SOFR

+

2.860%

)

500,000

6.377

06/08/34

(b)

511,913

Charles

Schwab

Corp.

(The)

1,220,000

0.900

03/11/26

1,129,438

Citibank

NA

2,000,000

5.570

04/30/34

2,030,041

Citigroup,

Inc.

(

SOFR

+

2.086%

)

600,000

4.910

05/24/33

(b)

577,414

(

SOFR

+

4.548%

)

240,000

5.316

03/26/41

(b)

233,224

Citizens

Bank

NA

(

SOFR

+

2.000%

)

655,000

4.575

08/09/28

(b)

627,673

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Citizens

Financial

Group,

Inc.

$

100,000

3.250

%

04/30/30

$

87,164

Discover

Financial

Services

100,000

4.100

02/09/27

95,845

1,640,000

6.700

11/29/32

1,711,901

Fifth

Third

Bancorp

456,000

2.550

05/05/27

423,179

190,000

8.250

03/01/38

222,447

(

SOFRINDX

+

2.192%

)

300,000

6.361

10/27/28

(b)

305,437

(

SOFRINDX

+

2.127%

)

1,100,000

4.772

07/28/30

(b)

1,059,199

Fifth

Third

Bank

NA

560,000

3.850

03/15/26

541,201

JPMorgan

Chase

&

Co.

138,000

3.900

07/15/25

135,791

730,000

3.300

04/01/26

706,017

690,000

3.200

06/15/26

663,770

290,000

4.125

12/15/26

282,057

251,000

4.250

10/01/27

244,201

184,000

3.625

12/01/27

175,170

513,000

6.400

05/15/38

569,194

147,000

5.500

10/15/40

147,963

226,000

5.600

07/15/41

231,249

328,000

5.400

01/06/42

329,449

60,000

5.625

08/16/43

61,552

381,000

4.850

02/01/44

353,077

554,000

4.950

06/01/45

521,279

(

SOFR

+

0.800%

)

800,000

1.045

11/19/26

(b)

748,816

(

3M

U.S.

T-Bill

MMY  +

1.507

)

500,000

3.960

01/29/27

(b)

487,570

(

SOFR

+

0.885%

)

600,000

1.578

04/22/27

(b)

558,177

(

3M

U.S.

T-Bill

MMY  +

1.599%

)

653,000

3.782

02/01/28

(b)

624,465

(

SOFR

+

1.170%

)

655,000

2.947

02/24/28

(b)

615,025

(

SOFR

+

0.930%

)

120,000

5.571

04/22/28

(b)

120,775

(

SOFR

+

1.560%

)

950,000

4.323

04/26/28

(b)

925,209

(

3M

U.S.

T-Bill

MMY  +

1.642%

)

1,064,000

3.540

05/01/28

(b)

1,013,425

622,000

3.964

11/15/48

(b)

500,320

(

SOFR

+

1.890%

)

1,002,000

2.182

06/01/28

(b)

916,036

(

SOFR

+

1.990%

)

535,000

4.851

07/25/28

(b)

527,856

(

3M

U.S.

T-Bill

MMY  +

1.207

)

1,922,000

3.509

01/23/29

(b)

1,809,151

(

3M

U.S.

T-Bill

MMY  +

1.382

)

518,000

4.005

04/23/29

(b)

492,435

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

SOFR

+

1.015%

)

$

450,000

2.069

%

06/01/29

(b)

$

395,666

(

SOFR

+

1.570%

)

1,000,000

6.087

10/23/29

(b)

1,029,674

(

3M

U.S.

T-Bill

MMY  +

1.592%

)

2,450,000

4.452

12/05/29

(b)

2,372,484

(

3M

U.S.

T-Bill

MMY  +

1.422

)

114,000

3.702

05/06/30

(b)

106,073

(

SOFR

+

1.750%

)

230,000

4.565

06/14/30

(b)

222,307

(

3M

U.S.

T-Bill

MMY  +

1.510%

)

692,000

2.739

10/15/30

(b)

604,255

(

3M

U.S.

T-Bill

MMY  +

3.790%

)

400,000

4.493

03/24/31

(b)

384,941

(

SOFR

+

2.040%

)

1,130,000

2.522

04/22/31

(b)

970,232

(

3M

U.S.

T-Bill

MMY  +

2.515

)

358,000

2.956

05/13/31

(b)

310,086

(

3M

U.S.

T-Bill

MMY  +

1.105%

)

80,000

1.764

11/19/31

(b)

64,447

(

SOFR

+

1.065%

)

1,052,000

1.953

02/04/32

(b)

851,441

(

3M

U.S.

T-Bill

MMY  +

1.25

)

1,104,000

2.580

04/22/32

(b)

922,611

(

SOFR

+

1.180%

)

1,067,000

2.545

11/08/32

(b)

882,465

(

SOFR

+

1.260%

)

600,000

2.963

01/25/33

(b)

507,109

(

SOFR

+

1.800%

)

500,000

4.586

04/26/33

(b)

474,056

(

SOFR

+

1.845%

)

1,000,000

5.350

06/01/34

(b)

994,841

(

SOFR

+

1.810%

)

680,000

6.254

10/23/34

(b)

718,731

(

3M

U.S.

T-Bill

MMY  +

1.622%

)

485,000

3.882

07/24/38

(b)

414,367

(

3M

U.S.

T-Bill

MMY  +

2.46

)

110,000

3.109

04/22/41

(b)

82,977

(

3M

U.S.

T-Bill

MMY  +

1.51

)

360,000

2.525

11/19/41

(b)

246,079

(

SOFR

+

1.460%

)

100,000

3.157

04/22/42

(b)

74,615

(

3M

U.S.

T-Bill

MMY  +

1.842

)

271,000

4.260

02/22/48

(b)

227,853

(

3M

U.S.

T-Bill

MMY  +

1.722

)

268,000

4.032

07/24/48

(b)

217,983

(

3M

U.S.

T-Bill

MMY  +

1.482

)

290,000

3.897

01/23/49

(b)

230,720

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

SOFR

+

2.440%

)

$

368,000

3.109

%

04/22/51

(b)

$

249,858

(

SOFR

+

1.580%

)

760,000

3.328

04/22/52

(b)

535,272

JPMorgan

Chase

Bank

NA

250,000

5.110

12/08/26

249,295

KeyBank

NA

640,000

4.900

08/08/32

566,537

KeyCorp

,

MTN

690,000

2.550

10/01/29

582,738

M&T

Bank

Corp.

(

SOFR

+

2.800%

)

700,000

7.413

10/30/29

(b)

737,382

Manufacturers

&

Traders

Trust

Co.

1,610,000

4.700

01/27/28

1,540,330

Morgan

Stanley

(

SOFR

+

1.669%

)

200,000

4.679

07/17/26

(b)

197,925

(

SOFR

+

1.770%

)

500,000

6.138

10/16/26

(b)

503,038

250,000

3.950

04/23/27

240,868

600,000

3.591

07/22/28

(b)

569,334

645,000

3.971

07/22/38

(b)

545,948

600,000

6.375

07/24/42

666,592

510,000

4.300

01/27/45

436,944

(

SOFR

+

1.610%

)

450,000

4.210

04/20/28

(b)

434,427

(

SOFR

+

1.290%

)

3,780,000

2.943

01/21/33

(b)

3,189,706

(

SOFR

+

1.360%

)

755,000

2.484

09/16/36

(b)

593,970

(

SOFR

+

2.620%

)

2,015,000

5.297

04/20/37

(b)

1,920,989

(

US

5

Year

CMT

T-Note

+

2.430%

)

100,000

5.948

01/19/38

(b)

99,357

(

3M

U.S.

T-Bill

MMY  +

1.693

)

1,340,000

4.457

04/22/39

(b)

1,197,189

(

SOFR

+

1.485%

)

300,000

3.217

04/22/42

(b)

224,221

Morgan

Stanley

,

GMTN

200,000

4.000

07/23/25

197,206

920,000

3.875

01/27/26

896,283

(

3M

U.S.

T-Bill

MMY  +

1.402

)

460,000

3.772

01/24/29

(b)

434,173

(

SOFR

+

1.143%

)

650,000

2.699

01/22/31

(b)

563,396

(

SOFR

+

4.840%

)

100,000

5.597

03/24/51

(b)

101,572

Morgan

Stanley

,

MTN

(

SOFR

+

1.034%

)

2,280,000

1.794

02/13/32

(b)

1,818,393

815,000

4.375

01/22/47

695,149

(

SOFR

+

1.430%

)

4,820,000

2.802

01/25/52

(b)

3,027,806

Morgan

Stanley

Bank

NA

880,000

5.479

07/16/25

881,338

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Morgan

Stanley

Bank

NA

–

(continued)

$

250,000

4.754

%

04/21/26

$

247,501

250,000

5.882

10/30/26

252,992

Northern

Trust

Corp.

1,000,000

3.950

10/30/25

979,794

PNC

Bank

NA

250,000

3.250

06/01/25

244,583

250,000

2.700

10/22/29

216,328

PNC

Financial

Services

Group,

Inc.

(The)

1,000,000

2.600

07/23/26

946,060

1,220,000

3.450

04/23/29

1,122,858

(

SOFRINDX

+

1.085%

)

100,000

4.758

01/26/27

(b)

98,862

(

SOFR

+

1.841%

)

1,300,000

5.582

06/12/29

(b)

1,310,497

(

SOFRINDX

+

2.140%

)

250,000

6.037

10/28/33

(b)

256,498

(

SOFR

+

2.284%

)

500,000

6.875

10/20/34

(b)

542,246

Santander

Holdings

USA,

Inc.

380,000

3.450

06/02/25

371,167

770,000

3.244

10/05/26

725,784

(

SOFR

+

1.249%

)

444,000

2.490

01/06/28

(b)

405,414

(

SOFR

+

2.356%

)

223,000

6.499

03/09/29

(b)

227,976

Synchrony

Bank

400,000

5.400

08/22/25

396,416

Synchrony

Financial

392,000

4.500

07/23/25

385,474

724,000

3.950

12/01/27

678,050

Truist

Financial

Corp.

,

MTN

(

SOFR

+

2.050%

)

570,000

6.047

06/08/27

(b)

574,522

(

SOFR

+

1.435%

)

1,250,000

4.873

01/26/29

(b)

1,224,114

(

SOFR

+

1.620%

)

1,000,000

5.435

01/24/30

(b)

994,486

(

SOFR

+

2.240%

)

1,610,000

4.916

07/28/33

(b)

1,484,550

(

SOFR

+

1.922%

)

330,000

5.711

01/24/35

(b)

329,084

U.S.

Bancorp

250,000

1.450

05/12/25

240,693

(

US

5

Year

CMT

T-Note

+

0.950%

)

300,000

2.491

11/03/36

(b)

234,240

U.S.

Bancorp

,

MTN

386,000

3.100

04/27/26

369,658

755,000

3.900

04/26/28

721,815

787,000

3.000

07/30/29

698,614

300,000

1.375

07/22/30

239,718

(

SOFR

+

0.730%

)

300,000

2.215

01/27/28

(b)

276,271

(

SOFR

+

1.660%

)

200,000

4.548

07/22/28

(b)

194,619

(

SOFR

+

1.020%

)

950,000

2.677

01/27/33

(b)

778,370

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

U.S.

Bancorp

,

Series

V

$

100,000

2.375

%

07/22/26

$

94,290

U.S.

Bancorp

,

Series

X

535,000

3.150

04/27/27

507,379

Wells

Fargo

&

Co.

815,000

3.000

04/22/26

778,727

1,234,000

3.000

10/23/26

1,167,056

550,000

5.375

11/02/43

519,852

1,007,000

3.900

05/01/45

803,268

(

SOFR

+

2.000%

)

540,000

2.188

04/30/26

(b)

523,590

(

SOFR

+

1.070%

)

550,000

5.707

04/22/28

(b)

554,247

(

SOFR

+

2.060%

)

1,345,000

6.491

10/23/34

(b)

1,430,180

(

SOFR

+

2.530%

)

1,119,000

3.068

04/30/41

(b)

827,741

Wells

Fargo

&

Co.

,

GMTN

450,000

4.300

07/22/27

436,870

404,000

4.900

11/17/45

357,817

Wells

Fargo

&

Co.

,

MTN

272,000

3.550

09/29/25

264,608

226,000

4.100

06/03/26

220,332

293,000

4.400

06/14/46

239,915

400,000

4.750

12/07/46

343,922

(

SOFR

+

1.560%

)

501,000

4.540

08/15/26

(b)

495,004

(

3M

U.S.

T-Bill

MMY  +

1.432

)

320,000

3.196

06/17/27

(b)

306,296

976,000

2.879

10/30/30

(b)

853,640

(

SOFR

+

1.510%

)

50,000

3.526

03/24/28

(b)

47,517

(

3M

U.S.

T-Bill

MMY  +

1.572%

)

168,000

3.584

05/22/28

(b)

159,619

(

SOFR

+

2.100%

)

955,000

2.393

06/02/28

(b)

877,137

900,000

4.897

07/25/33

(b)

863,461

(

SOFR

+

1.980%

)

500,000

4.808

07/25/28

(b)

492,074

(

SOFR

+

1.740%

)

1,825,000

5.574

07/25/29

(b)

1,837,668

(

3M

U.S.

T-Bill

MMY  +

1.262%

)

900,000

2.572

02/11/31

(b)

775,139

(

3M

U.S.

T-Bill

MMY  +

4.032%

)

200,000

4.478

04/04/31

(b)

190,275

(

SOFR

+

1.500%

)

750,000

3.350

03/02/33

(b)

645,077

(

SOFR

+

1.990%

)

1,215,000

5.557

07/25/34

(b)

1,206,322

(

3M

U.S.

T-Bill

MMY  +

4.502

)

1,192,000

5.013

04/04/51

(b)

1,086,843

(

SOFR

+

2.130%

)

830,000

4.611

04/25/53

(b)

706,886

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Wells

Fargo

Bank

NA

$

1,310,000

5.550

%

08/01/25

$

1,312,102

400,000

6.600

01/15/38

434,550

145,031,445

Basic

Industry

–

0.9%

Air

Products

and

Chemicals,

Inc.

270,000

2.700

05/15/40

192,492

Celanese  U.S.

Holdings

LLC

200,000

6.165

07/15/27

202,821

300,000

6.350

11/15/28

308,058

100,000

6.550

11/15/30

104,601

500,000

6.700

11/15/33

526,484

CF

Industries,

Inc.

360,000

5.150

03/15/34

343,998

187,000

4.950

06/01/43

165,261

115,000

5.375

03/15/44

106,111

Dow

Chemical

Co.

(The)

568,000

7.375

11/01/29

624,143

200,000

4.375

11/15/42

167,101

390,000

5.550

11/30/48

372,991

200,000

3.600

11/15/50

141,110

LYB

International

Finance

BV

1,090,000

5.250

07/15/43

997,650

693,000

4.875

03/15/44

609,902

LYB

International

Finance

III

LLC

240,000

4.200

10/15/49

184,894

263,000

4.200

05/01/50

201,780

200,000

3.625

04/01/51

139,675

LyondellBasell

Industries

NV

200,000

4.625

02/26/55

159,775

Sherwin-Williams

Co.

(The)

288,000

3.450

06/01/27

274,513

1,000,000

2.950

08/15/29

895,144

300,000

4.500

06/01/47

254,914

6,973,418

Broadcasting

–

0.4%

Discovery

Communications

LLC

310,000

5.200

09/20/47

250,767

780,000

5.300

05/15/49

636,153

500,000

4.000

09/15/55

320,979

Fox

Corp.

1,780,000

6.500

10/13/33

1,858,869

3,066,768

Brokerage

–

0.7%

BlackRock,

Inc.

580,000

3.250

04/30/29

537,922

300,000

2.400

04/30/30

260,847

200,000

1.900

01/28/31

165,300

150,000

2.100

02/25/32

122,150

1,870,000

4.750

05/25/33

1,826,616

Intercontinental

Exchange,

Inc.

330,000

2.100

06/15/30

277,579

290,000

1.850

09/15/32

223,828

360,000

4.600

03/15/33

343,496

510,000

3.000

06/15/50

333,745

392,000

4.950

06/15/52

359,691

416,000

3.000

09/15/60

251,178

450,000

5.200

06/15/62

421,277

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Brokerage

–

(continued)

Jefferies

Financial

Group,

Inc.

$

200,000

5.875

%

07/21/28

$

201,659

125,000

4.150

01/23/30

114,902

244,000

2.625

10/15/31

196,295

Nasdaq,

Inc.

100,000

5.950

08/15/53

101,761

100,000

6.100

06/28/63

102,918

5,841,164

Capital

Goods

–

2.1%

3M

Co.

600,000

3.250

08/26/49

410,496

Carrier

Global

Corp.

40,000

2.493

02/15/27

37,280

505,000

2.722

02/15/30

443,442

107,000

2.700

02/15/31

91,771

378,000

3.377

04/05/40

291,876

350,000

3.577

04/05/50

256,246

Caterpillar

Financial

Services

Corp.

,

MTN

100,000

4.350

05/15/26

98,627

Caterpillar,

Inc.

40,000

2.600

04/09/30

35,321

80,000

5.200

05/27/41

78,514

388,000

3.803

08/15/42

318,267

246,000

3.250

09/19/49

175,165

Cummins,

Inc.

1,000,000

5.150

02/20/34

1,002,240

Deere

&

Co.

266,000

3.900

06/09/42

222,029

190,000

3.750

04/15/50

150,865

Eaton

Corp.

581,000

4.150

03/15/33

541,597

General

Electric

Co.

,

MTN

135,000

6.750

03/15/32

147,612

Honeywell

International,

Inc.

1,000,000

1.350

06/01/25

961,479

263,000

2.500

11/01/26

248,198

80,000

2.700

08/15/29

71,896

290,000

1.750

09/01/31

234,314

300,000

5.000

02/15/33

299,587

Illinois

Tool

Works,

Inc.

121,000

2.650

11/15/26

114,549

1,710,000

3.900

09/01/42

1,419,827

John

Deere

Capital

Corp.

,

MTN

1,100,000

3.400

06/06/25

1,079,878

100,000

0.700

01/15/26

93,218

100,000

4.700

06/10/30

98,685

John

Deere

Capital

Corp.

,

Series

I

540,000

5.150

09/08/33

543,602

Otis

Worldwide

Corp.

624,000

2.565

02/15/30

543,217

Parker-Hannifin

Corp.

660,000

3.250

06/14/29

603,762

200,000

4.500

09/15/29

194,477

Regal

Rexnord

Corp.

1,140,000

6.400

04/15/33

1,168,138

Republic

Services,

Inc.

390,000

3.950

05/15/28

374,186

1,000,000

4.875

04/01/29

987,753

500,000

5.000

04/01/34

487,466

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Capital

Goods

–

(continued)

Waste

Management,

Inc.

$

1,000,000

4.875

%

02/15/29

$

995,436

900,000

4.625

02/15/30

881,141

304,000

1.500

03/15/31

242,426

Westinghouse

Air

Brake

Technologies

Corp.

316,000

3.450

11/15/26

301,234

306,000

4.700

09/15/28

299,159

16,544,976

Communications

–

3.9%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

184,000

4.908

07/23/25

182,054

237,000

3.750

02/15/28

219,775

374,000

4.200

03/15/28

351,666

194,000

2.250

01/15/29

164,940

128,000

5.050

03/30/29

122,685

323,000

2.800

04/01/31

263,213

180,000

2.300

02/01/32

138,083

405,000

6.384

10/23/35

395,399

388,000

5.375

04/01/38

335,698

300,000

3.500

06/01/41

200,970

572,000

6.484

10/23/45

527,548

401,000

5.375

05/01/47

323,080

432,000

5.750

04/01/48

363,076

410,000

5.125

07/01/49

314,809

430,000

4.800

03/01/50

318,002

674,000

3.700

04/01/51

411,401

350,000

3.900

06/01/52

220,540

100,000

5.250

04/01/53

79,067

354,000

3.850

04/01/61

208,507

254,000

4.400

12/01/61

165,453

262,000

3.950

06/30/62

156,201

580,000

5.500

04/01/63

452,111

Comcast

Corp.

1,000,000

3.375

08/15/25

978,954

400,000

3.150

02/15/28

374,286

400,000

3.550

05/01/28

377,927

400,000

4.150

10/15/28

386,109

700,000

4.550

01/15/29

685,843

150,000

2.650

02/01/30

131,847

400,000

3.400

04/01/30

364,853

270,000

4.250

10/15/30

256,807

500,000

5.500

11/15/32

509,916

600,000

4.250

01/15/33

557,788

500,000

4.650

02/15/33

480,385

300,000

7.050

03/15/33

334,329

250,000

4.800

05/15/33

241,784

150,000

4.200

08/15/34

136,727

320,000

5.650

06/15/35

326,428

400,000

4.400

08/15/35

367,019

540,000

3.900

03/01/38

456,210

400,000

3.969

11/01/47

311,505

200,000

4.000

03/01/48

156,827

400,000

4.700

10/15/48

355,125

400,000

3.999

11/01/49

310,501

400,000

3.450

02/01/50

281,943

400,000

2.800

01/15/51

245,791

800,000

2.887

11/01/51

496,280

400,000

2.450

08/15/52

224,254

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Communications

–

(continued)

Comcast

Corp.

–

(continued)

$

210,000

5.350

%

05/15/53

$

200,346

750,000

2.937

11/01/56

449,978

336,000

4.950

10/15/58

298,285

472,000

2.650

08/15/62

255,934

400,000

2.987

11/01/63

233,363

Meta

Platforms,

Inc.

50,000

4.800

05/15/30

49,829

Netflix,

Inc.

325,000

4.375

11/15/26

320,281

600,000

4.875

04/15/28

596,860

690,000

5.875

11/15/28

710,466

227,000

6.375

05/15/29

238,382

Omnicom

Group

Inc

/

Omnicom

Capital,

Inc.

770,000

3.600

04/15/26

746,446

Omnicom

Group,

Inc.

113,000

2.600

08/01/31

94,766

Paramount

Global

800,000

4.375

03/15/43

547,932

1,000,000

5.850

09/01/43

813,426

Time

Warner

Cable

Enterprises

LLC

216,000

8.375

07/15/33

239,268

Time

Warner

Cable

LLC

170,000

6.550

05/01/37

160,836

304,000

7.300

07/01/38

307,311

422,000

6.750

06/15/39

408,850

180,000

5.875

11/15/40

155,731

431,000

5.500

09/01/41

360,920

TWDC

Enterprises

18

Corp.

,

GMTN

290,000

4.125

06/01/44

242,243

TWDC

Enterprises

18

Corp.

,

MTN

245,000

1.850

07/30/26

228,260

102,000

2.950

06/15/27

96,430

Walt

Disney

Co.

(The)

557,000

2.200

01/13/28

508,700

110,000

2.000

09/01/29

94,747

422,000

3.800

03/22/30

396,310

960,000

2.650

01/13/31

833,199

300,000

6.200

12/15/34

324,733

75,000

6.400

12/15/35

81,531

400,000

6.650

11/15/37

446,988

250,000

4.625

03/23/40

231,038

940,000

2.750

09/01/49

595,721

270,000

4.700

03/23/50

243,460

200,000

3.600

01/13/51

149,048

383,000

3.800

05/13/60

283,936

Warnermedia

Holdings,

Inc.

300,000

6.412

03/15/26

300,319

1,200,000

3.755

03/15/27

1,138,388

500,000

4.054

03/15/29

461,168

1,300,000

5.050

03/15/42

1,075,973

700,000

5.141

03/15/52

554,787

690,000

5.391

03/15/62

544,784

31,284,689

Consumer

Cyclical

–

7.7%

Amazon.com,

Inc.

391,000

0.800

06/03/25

374,040

203,000

5.200

12/03/25

203,285

200,000

1.200

06/03/27

179,850

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Amazon.com,

Inc.

–

(continued)

$

780,000

3.150

%

08/22/27

$

740,698

473,000

1.500

06/03/30

392,866

600,000

3.600

04/13/32

546,926

420,000

4.800

12/05/34

414,386

715,000

3.875

08/22/37

625,822

400,000

2.875

05/12/41

294,127

232,000

4.950

12/05/44

225,273

659,000

4.050

08/22/47

550,987

400,000

2.500

06/03/50

244,039

1,278,000

3.100

05/12/51

876,380

582,000

4.250

08/22/57

485,955

400,000

2.700

06/03/60

235,463

500,000

3.250

05/12/61

333,202

420,000

4.100

04/13/62

334,261

American

Honda

Finance

Corp.

1,000,000

5.000

05/23/25

996,005

American

Honda

Finance

Corp.

,

GMTN

200,000

5.800

10/03/25

201,180

250,000

5.125

07/07/28

250,323

American

Honda

Finance

Corp.

,

MTN

40,000

1.200

07/08/25

38,211

Booking

Holdings,

Inc.

100,000

3.600

06/01/26

96,984

136,000

4.625

04/13/30

132,813

Costco

Wholesale

Corp.

232,000

3.000

05/18/27

221,470

555,000

1.375

06/20/27

500,853

100,000

1.600

04/20/30

83,513

876,000

1.750

04/20/32

699,461

Dollar

Tree,

Inc.

414,000

4.200

05/15/28

397,029

eBay,

Inc.

490,000

4.000

07/15/42

392,729

Expedia

Group,

Inc.

300,000

3.250

02/15/30

268,204

Ford

Motor

Co.

100,000

4.346

12/08/26

97,142

1,000,000

3.250

02/12/32

820,069

550,000

5.291

12/08/46

481,125

Ford

Motor

Credit

Co.

LLC

500,000

4.134

08/04/25

490,745

500,000

4.542

08/01/26

486,952

200,000

4.271

01/09/27

192,140

1,455,000

5.800

03/05/27

1,452,236

500,000

2.900

02/16/28

451,008

400,000

6.800

05/12/28

411,892

1,500,000

6.798

11/07/28

1,551,159

300,000

2.900

02/10/29

263,118

500,000

5.113

05/03/29

482,610

500,000

7.350

03/06/30

524,682

1,000,000

7.122

11/07/33

1,064,773

General

Motors

Co.

450,000

6.125

10/01/25

451,902

545,000

5.000

10/01/28

537,304

408,000

5.600

10/15/32

405,291

880,000

6.600

04/01/36

920,892

273,000

5.150

04/01/38

250,242

368,000

6.750

04/01/46

386,629

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

General

Motors

Co.

–

(continued)

$

200,000

5.400

%

04/01/48

$

178,889

190,000

5.950

04/01/49

182,934

General

Motors

Financial

Co.,

Inc.

100,000

4.300

07/13/25

98,521

300,000

5.250

03/01/26

298,581

100,000

4.000

10/06/26

96,579

400,000

2.350

02/26/27

368,662

100,000

5.000

04/09/27

98,832

600,000

2.700

08/20/27

552,910

300,000

6.000

01/09/28

304,717

500,000

5.850

04/06/30

504,101

1,040,000

2.350

01/08/31

848,040

250,000

2.700

06/10/31

205,814

Global

Payments,

Inc.

1,000,000

2.900

05/15/30

867,651

510,000

2.900

11/15/31

426,226

Home

Depot,

Inc.

(The)

220,000

3.350

09/15/25

214,784

205,000

4.000

09/15/25

201,806

318,000

3.000

04/01/26

306,515

244,000

3.900

12/06/28

234,762

390,000

2.950

06/15/29

355,253

400,000

1.375

03/15/31

316,221

400,000

1.875

09/15/31

323,537

680,000

5.875

12/16/36

717,648

460,000

3.300

04/15/40

356,971

500,000

4.200

04/01/43

422,893

150,000

4.875

02/15/44

137,663

130,000

4.400

03/15/45

111,885

300,000

4.250

04/01/46

250,702

300,000

4.500

12/06/48

257,064

300,000

3.125

12/15/49

202,846

300,000

3.350

04/15/50

210,626

406,000

2.375

03/15/51

229,962

1,000,000

4.950

09/15/52

920,266

300,000

3.500

09/15/56

211,295

Las

Vegas

Sands

Corp.

190,000

3.500

08/18/26

180,532

396,000

3.900

08/08/29

359,882

Lowe's

Cos.,

Inc.

500,000

4.800

04/01/26

496,402

390,000

3.100

05/03/27

369,606

200,000

1.300

04/15/28

173,620

352,000

1.700

09/15/28

306,185

252,000

1.700

10/15/30

204,332

226,000

3.750

04/01/32

204,544

1,590,000

5.150

07/01/33

1,575,802

1,000,000

3.000

10/15/50

625,627

850,000

4.250

04/01/52

668,720

700,000

5.625

04/15/53

678,530

Marriott

International,

Inc.

100,000

4.900

04/15/29

98,407

Marriott

International,

Inc.

,

Series

FF

236,000

4.625

06/15/30

227,611

Marriott

International,

Inc.

,

Series

GG

300,000

3.500

10/15/32

259,108

Marriott

International,

Inc.

,

Series

R

170,000

3.125

06/15/26

162,601

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Mastercard,

Inc.

$

143,000

2.950

%

11/21/26

$

136,331

144,000

3.300

03/26/27

137,940

1,000,000

4.875

03/09/28

1,003,495

132,000

2.950

06/01/29

120,403

368,000

3.350

03/26/30

338,913

250,000

2.000

11/18/31

204,446

162,000

3.650

06/01/49

123,971

400,000

3.850

03/26/50

316,267

McDonald's

Corp.

900,000

5.450

08/14/53

873,926

McDonald's

Corp.

,

MTN

230,000

3.700

01/30/26

224,272

304,000

3.500

03/01/27

291,456

350,000

3.800

04/01/28

334,682

100,000

2.625

09/01/29

88,981

254,000

2.125

03/01/30

216,072

150,000

3.600

07/01/30

138,132

321,000

4.700

12/09/35

302,534

360,000

6.300

10/15/37

384,262

100,000

6.300

03/01/38

106,981

150,000

4.875

12/09/45

135,097

300,000

4.450

03/01/47

252,457

296,000

4.450

09/01/48

249,383

372,000

4.200

04/01/50

297,927

NIKE,

Inc.

115,000

2.375

11/01/26

108,185

190,000

2.750

03/27/27

179,300

204,000

2.850

03/27/30

182,718

250,000

3.250

03/27/40

195,538

390,000

3.875

11/01/45

315,486

340,000

3.375

03/27/50

245,884

Starbucks

Corp.

2,012,000

3.800

08/15/25

1,972,530

100,000

4.000

11/15/28

95,906

300,000

3.000

02/14/32

258,232

250,000

4.500

11/15/48

208,640

102,000

4.450

08/15/49

84,080

710,000

3.500

11/15/50

499,141

Tapestry,

Inc.

100,000

7.000

11/27/26

102,559

600,000

7.350

11/27/28

621,975

Target

Corp.

300,000

2.950

01/15/52

193,891

250,000

4.800

01/15/53

226,619

Toyota

Motor

Credit

Corp.

150,000

4.625

01/12/28

148,395

Toyota

Motor

Credit

Corp.

,

MTN

700,000

0.800

10/16/25

659,791

1,428,000

1.900

01/13/27

1,317,373

400,000

3.050

03/22/27

378,255

400,000

4.550

09/20/27

393,888

100,000

4.450

06/29/29

97,553

475,000

2.150

02/13/30

407,946

427,000

3.375

04/01/30

390,625

Visa,

Inc.

123,000

3.150

12/14/25

119,402

100,000

1.900

04/15/27

92,193

267,000

2.750

09/15/27

249,804

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Visa,

Inc.

–

(continued)

$

174,000

2.050

%

04/15/30

$

148,740

288,000

1.100

02/15/31

227,125

920,000

4.150

12/14/35

857,089

100,000

2.700

04/15/40

72,713

729,000

4.300

12/14/45

635,221

100,000

3.650

09/15/47

77,730

200,000

2.000

08/15/50

111,003

Walmart,

Inc.

190,000

3.550

06/26/25

186,781

100,000

3.050

07/08/26

96,378

166,000

3.700

06/26/28

160,337

252,000

1.500

09/22/28

221,112

220,000

1.800

09/22/31

180,061

455,000

5.250

09/01/35

467,003

330,000

6.500

08/15/37

372,952

315,000

4.050

06/29/48

262,102

400,000

2.650

09/22/51

250,965

940,000

4.500

09/09/52

831,618

61,847,678

Consumer

Noncyclical

–

6.7%

Abbott

Laboratories

568,000

3.750

11/30/26

552,252

538,000

4.750

11/30/36

519,174

540,000

4.900

11/30/46

510,558

AbbVie,

Inc.

291,000

3.200

05/14/26

280,967

250,000

4.250

11/14/28

242,996

625,000

3.200

11/21/29

571,721

525,000

4.550

03/15/35

496,646

290,000

4.500

05/14/35

272,776

806,000

4.050

11/21/39

700,269

2,000,000

5.350

03/15/44

1,984,683

300,000

4.850

06/15/44

278,841

379,000

4.750

03/15/45

346,987

600,000

4.700

05/14/45

544,880

304,000

4.450

05/14/46

265,613

420,000

4.875

11/14/48

387,378

950,000

4.250

11/21/49

791,925

800,000

5.400

03/15/54

790,834

Altria

Group,

Inc.

800,000

2.350

05/06/25

776,304

780,000

4.800

02/14/29

764,462

370,000

2.450

02/04/32

297,557

100,000

5.800

02/14/39

99,584

270,000

3.400

02/04/41

193,485

220,000

4.250

08/09/42

175,398

280,000

5.375

01/31/44

266,144

148,000

3.875

09/16/46

107,392

690,000

5.950

02/14/49

676,557

670,000

3.700

02/04/51

452,021

150,000

4.000

02/04/61

104,388

Baxter

International,

Inc.

300,000

1.915

02/01/27

273,820

100,000

3.132

12/01/51

62,885

Becton

Dickinson

&

Co.

200,000

3.700

06/06/27

191,367

200,000

4.693

02/13/28

196,608

820,000

4.669

06/06/47

714,315

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Noncyclical

–

(continued)

Bristol-Myers

Squibb

Co.

$

1,922,000

0.750

%

11/13/25

$

1,805,975

1,000,000

4.950

02/20/26

994,214

750,000

3.200

06/15/26

722,922

400,000

3.900

02/20/28

386,777

100,000

1.450

11/13/30

80,426

100,000

5.750

02/01/31

103,618

100,000

2.950

03/15/32

86,337

1,000,000

5.900

11/15/33

1,046,142

100,000

4.125

06/15/39

87,000

100,000

2.350

11/13/40

66,675

200,000

4.350

11/15/47

168,259

630,000

4.550

02/20/48

543,626

714,000

4.250

10/26/49

588,808

600,000

2.550

11/13/50

356,128

950,000

3.700

03/15/52

703,307

800,000

5.550

02/22/54

788,554

315,000

3.900

03/15/62

229,280

Centene

Corp.

1,083,000

4.250

12/15/27

1,035,619

400,000

2.450

07/15/28

353,000

760,000

4.625

12/15/29

715,350

471,000

3.000

10/15/30

400,939

638,000

2.500

03/01/31

521,476

511,000

2.625

08/01/31

416,465

Elevance

Health,

Inc.

120,000

5.375

06/15/34

119,430

304,000

6.100

10/15/52

319,292

Eli

Lilly

&

Co.

1,140,000

4.500

02/09/29

1,124,431

540,000

4.700

02/09/34

525,527

190,000

3.950

03/15/49

154,349

300,000

2.250

05/15/50

174,200

892,000

2.500

09/15/60

499,061

Gilead

Sciences,

Inc.

500,000

2.950

03/01/27

473,456

900,000

5.250

10/15/33

901,029

430,000

4.000

09/01/36

376,040

180,000

5.650

12/01/41

181,129

500,000

4.800

04/01/44

452,718

270,000

4.750

03/01/46

240,269

528,000

4.150

03/01/47

428,041

500,000

2.800

10/01/50

316,663

Johnson

&

Johnson

1,490,000

0.550

09/01/25

1,407,244

230,000

2.450

03/01/26

220,521

300,000

1.300

09/01/30

245,201

600,000

3.700

03/01/46

481,289

1,000,000

3.750

03/03/47

801,146

250,000

2.450

09/01/60

139,340

Kroger

Co.

(The)

500,000

3.950

01/15/50

384,516

Medtronic

Global

Holdings

SCA

1,000,000

4.500

03/30/33

960,109

Medtronic,

Inc.

580,000

4.375

03/15/35

544,260

385,000

4.625

03/15/45

351,508

Merck

&

Co.,

Inc.

750,000

0.750

02/24/26

697,587

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Noncyclical

–

(continued)

Merck

&

Co.,

Inc.

–

(continued)

$

1,100,000

4.500

%

05/17/33

$

1,060,287

500,000

2.750

12/10/51

314,060

100,000

5.000

05/17/53

94,105

100,000

2.900

12/10/61

59,892

1,000,000

5.150

05/17/63

950,540

Mylan,

Inc.

195,000

4.550

04/15/28

186,806

254,000

5.200

04/15/48

205,484

Philip

Morris

International,

Inc.

1,000,000

3.375

08/11/25

977,266

1,290,000

5.000

11/17/25

1,282,718

200,000

0.875

05/01/26

184,020

1,000,000

4.750

02/12/27

991,416

400,000

5.125

11/17/27

399,262

800,000

5.625

09/07/33

805,729

100,000

3.875

08/21/42

78,097

250,000

4.250

11/10/44

202,869

Regeneron

Pharmaceuticals,

Inc.

346,000

2.800

09/15/50

212,988

Shire

Acquisitions

Investments

Ireland

DAC

1,500,000

3.200

09/23/26

1,430,310

Stryker

Corp.

640,000

4.625

03/15/46

559,246

Thermo

Fisher

Scientific,

Inc.

1,000,000

5.086

08/10/33

992,106

470,000

2.800

10/15/41

337,860

Utah

Acquisition

Sub,

Inc.

455,000

3.950

06/15/26

439,600

200,000

5.250

06/15/46

164,708

Viatris,

Inc.

900,000

2.700

06/22/30

756,546

423,000

4.000

06/22/50

287,965

Walgreens

Boots

Alliance,

Inc.

450,000

3.450

06/01/26

428,474

106,000

4.800

11/18/44

88,616

50,000

4.100

04/15/50

36,424

Zoetis,

Inc.

158,000

3.000

09/12/27

147,723

410,000

4.700

02/01/43

366,316

53,651,473

Consumer

Products

–

0.5%

Haleon  U.S.

Capital

LLC

300,000

3.375

03/24/29

277,357

Haleon

US

Capital

LLC

300,000

3.625

03/24/32

268,930

400,000

4.000

03/24/52

318,691

Kenvue,

Inc.

300,000

5.050

03/22/28

300,869

500,000

5.100

03/22/43

482,543

100,000

5.050

03/22/53

94,128

150,000

5.200

03/22/63

141,646

Procter

&

Gamble

Co.

(The)

180,000

0.550

10/29/25

168,972

200,000

2.450

11/03/26

188,744

214,000

1.900

02/01/27

198,685

350,000

2.850

08/11/27

329,869

512,000

3.000

03/25/30

468,526

350,000

1.200

10/29/30

282,484

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Products

–

(continued)

Procter

&

Gamble

Co.

(The)

–

(continued)

$

300,000

1.950

%

04/23/31

$

251,634

110,000

2.300

02/01/32

93,438

3,866,516

Electric

–

3.5%

American

Electric

Power

Co.,

Inc.

100,000

5.625

03/01/33

99,374

(

US

5

Year

CMT

T-Note

+

2.675%

)

300,000

3.875

02/15/62

(b)

274,524

Berkshire

Hathaway

Energy

Co.

100,000

5.150

11/15/43

94,125

300,000

4.450

01/15/49

246,652

600,000

4.250

10/15/50

468,098

Consolidated

Edison

Co.

of

New

York,

Inc.

600,000

5.900

11/15/53

618,644

250,000

4.625

12/01/54

212,378

134,000

3.600

06/15/61

92,526

Consolidated

Edison

Co.

of

New

York,

Inc.

,

Series

20B

400,000

3.950

04/01/50

312,135

Constellation

Energy

Generation

LLC

100,000

5.600

03/01/28

101,037

100,000

6.500

10/01/53

107,109

Dominion

Energy,

Inc.

500,000

5.375

11/15/32

495,258

Dominion

Energy,

Inc.

,

Series

A

(

US

5

Year

CMT

T-Note

+

2.386%

)

610,000

6.875

02/01/55

(b)

618,316

Duke

Energy

Carolinas

LLC

1,000,000

4.950

01/15/33

978,962

345,000

3.200

08/15/49

232,011

Duke

Energy

Corp.

390,000

2.650

09/01/26

368,024

480,000

2.450

06/01/30

416,564

100,000

2.550

06/15/31

83,655

604,000

3.750

09/01/46

446,340

350,000

3.500

06/15/51

238,280

316,000

5.000

08/15/52

276,316

100,000

6.100

09/15/53

102,726

Duke

Energy

Florida

LLC

400,000

6.400

06/15/38

427,515

Entergy

Louisiana

LLC

1,730,000

4.000

03/15/33

1,561,646

242,000

4.200

09/01/48

192,707

Exelon

Corp.

200,000

3.400

04/15/26

193,508

1,500,000

5.150

03/15/28

1,495,046

230,000

4.700

04/15/50

196,137

Georgia

Power

Co.

1,000,000

4.950

05/17/33

972,509

100,000

5.125

05/15/52

93,293

Georgia

Power

Co.

,

Series

A

756,000

3.250

03/15/51

510,881

NextEra

Energy

Capital

Holdings,

Inc.

200,000

4.450

06/20/25

198,152

500,000

4.950

01/29/26

497,141

550,000

3.550

05/01/27

523,921

400,000

4.625

07/15/27

393,302

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

NextEra

Energy

Capital

Holdings,

Inc.

–

(continued)

$

260,000

4.900

%

02/28/28

$

257,544

200,000

5.250

03/15/34

195,594

450,000

5.550

03/15/54

437,225

NiSource,

Inc.

100,000

2.950

09/01/29

89,521

250,000

3.950

03/30/48

188,203

Northern

States

Power

Co.

100,000

5.100

05/15/53

92,940

Pacific

Gas

and

Electric

Co.

1,000,000

6.100

01/15/29

1,022,331

100,000

4.550

07/01/30

94,594

270,000

2.500

02/01/31

223,037

789,000

3.250

06/01/31

679,935

300,000

3.300

08/01/40

213,712

100,000

3.950

12/01/47

72,297

600,000

4.950

07/01/50

502,495

100,000

3.500

08/01/50

66,067

1,100,000

6.750

01/15/53

1,164,012

495,000

6.700

04/01/53

524,129

PacifiCorp

260,000

2.900

06/15/52

151,951

600,000

5.350

12/01/53

540,956

940,000

5.500

05/15/54

860,687

Public

Service

Co.

of

Colorado

550,000

5.750

05/15/54

548,832

San

Diego

Gas

&

Electric

Co.

,

Series

VVV

100,000

1.700

10/01/30

81,040

Sempra

538,000

3.250

06/15/27

506,465

250,000

3.400

02/01/28

234,991

450,000

6.000

10/15/39

453,047

240,000

4.000

02/01/48

182,861

(

US

5

Year

CMT

T-Note

+

2.868%

)

405,000

4.125

04/01/52

(b)

377,081

Southern

California

Edison

Co.

100,000

5.850

11/01/27

101,981

100,000

5.950

11/01/32

103,389

250,000

4.650

10/01/43

216,079

587,000

4.000

04/01/47

451,662

318,000

3.650

02/01/50

227,628

Southern

California

Edison

Co.

,

Series

20A

220,000

2.950

02/01/51

137,307

Southern

California

Edison

Co.

,

Series

C

200,000

4.125

03/01/48

156,353

Southern

Co.

(The)

1,056,000

3.250

07/01/26

1,013,914

430,000

4.400

07/01/46

362,342

Southern

Co.

(The)

,

Series

B

(

US

5

Year

CMT

T-Note

+

3.733%

)

300,000

4.000

01/15/51

(b)

290,296

Virginia

Electric

and

Power

Co.

100,000

5.000

04/01/33

96,904

444,000

2.450

12/15/50

251,801

Virginia

Electric

and

Power

Co.

,

Series

A

600,000

3.500

03/15/27

574,137

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

Xcel

Energy,

Inc.

$

100,000

5.450

%

08/15/33

$

98,402

27,982,554

Electrical

–

0.0%

Emerson

Electric

Co.

270,000

2.200

12/21/31

223,945

180,000

2.800

12/21/51

113,045

336,990

Energy

–

6.4%

Baker

Hughes

Holdings

LLC

50,000

5.125

09/15/40

47,696

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co.-Obligor,

Inc.

394,000

3.337

12/15/27

370,743

300,000

4.080

12/15/47

238,251

BP

Capital

Markets

PLC

(

US

5

Year

CMT

T-Note

+

4.036%

)

385,000

4.375

09/22/72

(b)

379,706

Cheniere

Corpus

Christi

Holdings

LLC

1,136,000

5.125

06/30/27

1,126,060

Cheniere

Energy

Partners

LP

550,000

4.500

10/01/29

523,875

600,000

4.000

03/01/31

541,875

500,000

3.250

01/31/32

424,375

Cheniere

Energy,

Inc.

448,000

4.625

10/15/28

432,880

Chevron

Corp.

360,000

1.995

05/11/27

331,839

ConocoPhillips

Co.

1,850,000

5.550

03/15/54

1,823,637

Diamondback

Energy,

Inc.

1,000,000

3.500

12/01/29

917,344

Energy

Transfer

LP

668,000

2.900

05/15/25

649,982

200,000

4.750

01/15/26

197,508

100,000

6.050

12/01/26

101,627

200,000

5.500

06/01/27

200,531

100,000

4.000

10/01/27

95,769

230,000

4.950

06/15/28

226,341

551,000

5.250

04/15/29

546,728

540,000

3.750

05/15/30

493,322

410,000

6.400

12/01/30

429,214

400,000

6.500

02/01/42

413,510

201,000

5.300

04/15/47

177,011

283,000

5.400

10/01/47

253,416

277,000

6.000

06/15/48

267,706

431,000

6.250

04/15/49

428,505

480,000

5.000

05/15/50

409,555

400,000

5.950

05/15/54

385,522

Enterprise

Products

Operating

LLC

326,000

3.125

07/31/29

297,182

150,000

2.800

01/31/30

133,193

1,460,000

5.350

01/31/33

1,463,104

150,000

5.950

02/01/41

154,657

207,000

4.850

08/15/42

188,491

220,000

4.450

02/15/43

190,158

268,000

4.850

03/15/44

242,975

176,000

5.100

02/15/45

163,714

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Enterprise

Products

Operating

LLC

–

(continued)

$

220,000

4.900

%

05/15/46

$

199,653

414,000

4.800

02/01/49

367,592

368,000

4.200

01/31/50

296,963

753,000

3.950

01/31/60

552,165

Enterprise

Products

Operating

LLC

,

Series

E

(

3M

U.S.

T-Bill

MMY  +

3.295

)

249,000

5.250

08/16/77

(b)

239,583

EOG

Resources,

Inc.

233,000

4.150

01/15/26

229,126

186,000

4.375

04/15/30

180,039

236,000

4.950

04/15/50

216,719

Exxon

Mobil

Corp.

262,000

3.043

03/01/26

253,093

130,000

2.275

08/16/26

122,529

100,000

3.294

03/19/27

96,167

476,000

3.482

03/19/30

441,367

300,000

2.610

10/15/30

261,809

560,000

4.227

03/19/40

493,431

430,000

3.567

03/06/45

329,052

600,000

4.114

03/01/46

498,624

408,000

3.095

08/16/49

277,868

628,000

4.327

03/19/50

530,217

460,000

3.452

04/15/51

331,591

Halliburton

Co.

112,000

2.920

03/01/30

99,601

493,000

4.850

11/15/35

471,481

486,000

6.700

09/15/38

535,140

270,000

7.450

09/15/39

319,292

200,000

5.000

11/15/45

182,530

Hess

Corp.

248,000

4.300

04/01/27

241,507

148,000

6.000

01/15/40

151,816

323,000

5.600

02/15/41

319,496

Kinder

Morgan

Energy

Partners

LP

188,000

5.500

03/01/44

174,364

Kinder

Morgan

Energy

Partners

LP

,

MTN

1,100,000

6.950

01/15/38

1,196,986

Kinder

Morgan,

Inc.

690,000

4.300

06/01/25

681,086

420,000

2.000

02/15/31

342,232

396,000

5.550

06/01/45

370,644

142,000

5.050

02/15/46

124,499

500,000

5.200

03/01/48

443,091

200,000

3.600

02/15/51

137,262

100,000

5.450

08/01/52

91,787

Kinder

Morgan,

Inc.

,

GMTN

910,000

7.750

01/15/32

1,025,798

Marathon

Petroleum

Corp.

420,000

4.700

05/01/25

415,997

800,000

6.500

03/01/41

846,081

200,000

4.750

09/15/44

171,981

MPLX

LP

1,000,000

1.750

03/01/26

937,568

136,000

4.125

03/01/27

131,912

200,000

4.000

03/15/28

191,344

530,000

4.800

02/15/29

519,140

314,000

2.650

08/15/30

267,639

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

MPLX

LP

–

(continued)

$

350,000

4.500

%

04/15/38

$

304,065

310,000

5.200

03/01/47

278,294

320,000

4.700

04/15/48

264,279

180,000

5.500

02/15/49

166,359

600,000

4.950

03/14/52

511,414

Occidental

Petroleum

Corp.

350,000

6.625

09/01/30

366,625

165,000

6.125

01/01/31

168,919

230,000

7.500

05/01/31

253,771

854,000

6.450

09/15/36

893,497

350,000

6.600

03/15/46

368,131

ONEOK,

Inc.

450,000

5.550

11/01/26

451,674

180,000

4.550

07/15/28

174,953

342,000

3.100

03/15/30

303,176

640,000

6.100

11/15/32

658,837

200,000

5.200

07/15/48

176,918

928,000

6.625

09/01/53

996,264

Phillips

66

300,000

3.900

03/15/28

286,435

390,000

4.650

11/15/34

362,410

250,000

5.875

05/01/42

252,960

710,000

4.875

11/15/44

637,514

Pioneer

Natural

Resources

Co.

270,000

1.125

01/15/26

252,678

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

766,000

4.650

10/15/25

755,952

240,000

4.500

12/15/26

234,603

339,000

3.550

12/15/29

308,712

Sabine

Pass

Liquefaction

LLC

1,176,000

5.875

06/30/26

1,181,145

430,000

5.000

03/15/27

426,775

498,000

4.200

03/15/28

479,325

Shell

International

Finance

BV

350,000

5.500

03/25/40

353,617

Targa

Resources

Corp.

200,000

4.950

04/15/52

170,884

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

450,000

5.500

03/01/30

443,813

900,000

4.875

02/01/31

858,375

1,100,000

4.000

01/15/32

983,125

Transcontinental

Gas

Pipe

Line

Co.

LLC

744,000

7.850

02/01/26

768,706

Valero

Energy

Corp.

560,000

6.625

06/15/37

598,407

100,000

3.650

12/01/51

69,304

Western

Midstream

Operating

LP

1,000,000

4.050

02/01/30

924,101

270,000

5.250

02/01/50

235,676

Williams

Cos.,

Inc.

(The)

280,000

4.000

09/15/25

274,919

100,000

5.400

03/02/26

100,317

518,000

3.750

06/15/27

498,016

384,000

3.500

11/15/30

346,227

250,000

2.600

03/15/31

210,782

642,000

6.300

04/15/40

666,663

200,000

5.100

09/15/45

182,254

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Williams

Cos.,

Inc.

(The)

–

(continued)

$

240,000

4.850

%

03/01/48

$

207,620

50,984,355

Financial

Company

–

1.3%

Air

Lease

Corp.

180,000

1.875

08/15/26

166,406

100,000

2.200

01/15/27

91,999

362,000

3.125

12/01/30

314,582

Air

Lease

Corp.

,

MTN

1,000,000

2.875

01/15/26

955,824

400,000

2.875

01/15/32

334,516

Ally

Financial,

Inc.

400,000

5.750

11/20/25

398,194

439,000

7.100

11/15/27

456,129

569,000

8.000

11/01/31

621,953

(

SOFR

+

2.820%

)

100,000

6.848

01/03/30

(b)

103,565

Ares

Capital

Corp.

250,000

3.250

07/15/25

241,715

429,000

2.150

07/15/26

396,190

500,000

2.875

06/15/28

442,714

Blackstone

Private

Credit

Fund

1,000,000

7.050

09/29/25

1,010,716

349,000

2.625

12/15/26

318,472

630,000

3.250

03/15/27

580,756

GE

Capital

International

Funding

Co

Unlimited

Co.

1,772,000

4.418

11/15/35

1,630,507

Morgan

Stanley

(

SOFR

+

2.050%

)

2,300,000

6.627

11/01/34

(b)

2,468,136

10,532,374

Food

and

Beverage

–

2.1%

Coca-Cola

Co.

(The)

700,000

3.375

03/25/27

673,773

250,000

1.450

06/01/27

226,880

250,000

1.500

03/05/28

222,289

240,000

1.000

03/15/28

209,156

102,000

2.125

09/06/29

89,399

656,000

3.450

03/25/30

608,737

193,000

1.650

06/01/30

160,478

255,000

2.000

03/05/31

212,697

240,000

1.375

03/15/31

191,582

210,000

2.500

06/01/40

147,471

110,000

2.875

05/05/41

81,094

430,000

2.600

06/01/50

266,383

200,000

3.000

03/05/51

135,142

250,000

2.500

03/15/51

150,544

220,000

2.750

06/01/60

132,249

Conagra

Brands,

Inc.

200,000

1.375

11/01/27

175,251

200,000

5.300

11/01/38

186,532

Constellation

Brands,

Inc.

498,000

3.150

08/01/29

449,732

J

M

Smucker

Co.

(The)

500,000

6.500

11/15/53

533,599

Keurig

Dr

Pepper,

Inc.

299,000

3.200

05/01/30

268,337

100,000

3.800

05/01/50

74,731

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Food

and

Beverage

–

(continued)

Keurig

Dr

Pepper,

Inc.

–

(continued)

$

412,000

4.500

%

04/15/52

$

344,399

Kraft

Heinz

Foods

Co.

765,000

3.000

06/01/26

731,825

200,000

3.875

05/15/27

193,327

250,000

6.875

01/26/39

277,215

507,000

5.000

06/04/42

462,450

552,000

4.375

06/01/46

453,565

410,000

4.875

10/01/49

358,613

Molson

Coors

Beverage

Co.

820,000

3.000

07/15/26

781,437

190,000

5.000

05/01/42

173,700

370,000

4.200

07/15/46

297,393

Mondelez

International,

Inc.

435,000

2.750

04/13/30

382,109

490,000

2.625

09/04/50

295,999

PepsiCo,

Inc.

467,000

2.750

04/30/25

456,599

1,000,000

5.250

11/10/25

1,002,446

260,000

2.850

02/24/26

250,720

166,000

2.375

10/06/26

156,405

218,000

3.000

10/15/27

205,404

96,000

2.625

07/29/29

86,473

210,000

2.750

03/19/30

186,775

210,000

1.625

05/01/30

174,759

100,000

1.400

02/25/31

79,907

400,000

1.950

10/21/31

327,492

262,000

2.625

10/21/41

184,164

300,000

4.450

04/14/46

265,492

252,000

3.450

10/06/46

189,612

180,000

2.875

10/15/49

119,580

130,000

3.625

03/19/50

99,315

Pilgrim's

Pride

Corp.

300,000

4.250

04/15/31

271,125

590,000

6.250

07/01/33

601,062

Sysco

Corp.

200,000

3.750

10/01/25

195,299

550,000

3.300

07/15/26

527,764

547,000

3.250

07/15/27

516,739

329,000

5.950

04/01/30

341,588

270,000

6.600

04/01/50

301,655

16,488,463

Hardware

–

0.0%

CDW

LLC

/

CDW

Finance

Corp.

300,000

2.670

12/01/26

279,702

Healthcare

–

4.6%

Aetna,

Inc.

140,000

6.625

06/15/36

149,316

314,000

3.875

08/15/47

229,567

Cigna

Group

(The)

2,382,000

4.125

11/15/25

2,339,044

1,210,000

4.375

10/15/28

1,170,816

300,000

4.800

08/15/38

275,511

130,000

4.800

07/15/46

115,139

674,000

4.900

12/15/48

593,897

290,000

3.400

03/15/50

198,799

472,000

3.400

03/15/51

320,997

790,000

5.600

02/15/54

760,169

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Healthcare

–

(continued)

CVS

Health

Corp.

$

656,000

3.875

%

07/20/25

$

643,651

90,000

2.875

06/01/26

85,714

358,000

3.000

08/15/26

340,572

478,000

3.625

04/01/27

456,216

350,000

1.300

08/21/27

308,201

815,000

4.300

03/25/28

786,007

570,000

5.400

06/01/29

568,684

613,000

3.250

08/15/29

554,207

140,000

5.125

02/21/30

137,528

210,000

1.750

08/21/30

169,861

1,680,000

5.550

06/01/31

1,679,739

400,000

5.250

02/21/33

389,456

1,016,000

4.780

03/25/38

907,946

246,000

4.125

04/01/40

198,799

160,000

2.700

08/21/40

106,497

176,000

5.300

12/05/43

161,139

520,000

5.125

07/20/45

461,118

968,000

5.050

03/25/48

837,481

50,000

4.250

04/01/50

38,106

1,078,000

5.875

06/01/53

1,041,693

Danaher

Corp.

340,000

2.800

12/10/51

213,098

Elevance

Health,

Inc.

200,000

1.500

03/15/26

187,060

552,000

3.650

12/01/27

525,490

1,000,000

4.101

03/01/28

964,676

150,000

2.875

09/15/29

133,713

300,000

2.550

03/15/31

255,013

84,000

4.625

05/15/42

74,553

309,000

4.650

01/15/43

273,610

174,000

4.650

08/15/44

152,791

340,000

4.375

12/01/47

285,321

118,000

4.550

03/01/48

100,533

300,000

3.125

05/15/50

200,345

GE

HealthCare

Technologies,

Inc.

100,000

5.600

11/15/25

100,031

1,780,000

5.905

11/22/32

1,823,847

HCA,

Inc.

430,000

5.875

02/15/26

431,075

628,000

5.250

06/15/26

624,860

388,000

5.375

09/01/26

387,515

555,000

4.500

02/15/27

541,125

180,000

5.200

06/01/28

178,487

100,000

5.625

09/01/28

100,625

680,000

5.875

02/01/29

689,350

404,000

4.125

06/15/29

379,848

500,000

3.500

09/01/30

447,106

100,000

5.125

06/15/39

92,500

315,000

5.500

06/15/47

291,178

410,000

5.250

06/15/49

365,590

220,000

3.500

07/15/51

147,242

415,000

4.625

03/15/52

323,699

Humana,

Inc.

300,000

3.700

03/23/29

279,619

864,000

5.875

03/01/33

878,501

Solventum

Corp.

1,460,000

5.400

03/01/29

(a)

1,453,074

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Healthcare

–

(continued)

UnitedHealth

Group,

Inc.

$

288,000

3.750

%

07/15/25

$

283,492

100,000

3.100

03/15/26

96,659

100,000

3.450

01/15/27

96,203

400,000

2.950

10/15/27

375,092

590,000

2.300

05/15/31

495,846

678,000

4.200

05/15/32

636,326

500,000

5.350

02/15/33

506,354

748,000

4.625

07/15/35

714,578

390,000

5.800

03/15/36

405,979

828,000

4.250

03/15/43

718,035

1,000,000

4.750

07/15/45

913,506

573,000

4.450

12/15/48

491,251

300,000

3.700

08/15/49

226,378

700,000

3.250

05/15/51

483,758

311,000

4.750

05/15/52

276,370

500,000

3.875

08/15/59

371,802

766,000

6.050

02/15/63

812,927

36,831,901

Insurance

–

1.9%

American

International

Group,

Inc.

204,000

4.800

07/10/45

184,228

301,000

4.750

04/01/48

266,904

200,000

4.375

06/30/50

167,325

American

International

Group,

Inc.

,

Series

A-9

(

3M

USD

LIBOR

+

2.868%

)

262,000

5.750

04/01/48

(b)

257,618

Aon

Corp.

340,000

2.800

05/15/30

296,271

Aon

Corp.

/

Aon

Global

Holdings

PLC

352,000

3.900

02/28/52

260,468

Aon

North

America,

Inc.

2,000,000

5.450

03/01/34

1,977,175

Berkshire

Hathaway

Finance

Corp.

112,000

1.450

10/15/30

91,125

530,000

2.875

03/15/32

461,417

100,000

4.250

01/15/49

85,362

430,000

2.850

10/15/50

276,739

50,000

2.500

01/15/51

30,338

850,000

3.850

03/15/52

653,836

Berkshire

Hathaway,

Inc.

100,000

4.500

02/11/43

93,590

Chubb

INA

Holdings

LLC

472,000

4.350

11/03/45

407,288

Corebridge

Financial,

Inc.

410,000

3.650

04/05/27

392,603

320,000

3.900

04/05/32

287,070

1,000,000

5.750

01/15/34

1,007,770

(

US

5

Year

CMT

T-Note

+

3.846%

)

200,000

6.875

12/15/52

(b)

202,666

Equitable

Holdings,

Inc.

650,000

4.350

04/20/28

622,484

426,000

5.000

04/20/48

381,556

Everest

Reinsurance

Holdings,

Inc.

424,000

3.500

10/15/50

283,881

Marsh

&

McLennan

Cos.,

Inc.

1,265,000

4.375

03/15/29

1,233,628

100,000

2.250

11/15/30

84,410

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Insurance

–

(continued)

Marsh

&

McLennan

Cos.,

Inc.

–

(continued)

$

206,000

4.900

%

03/15/49

$

184,571

MetLife,

Inc.

150,000

4.550

03/23/30

146,837

400,000

5.700

06/15/35

408,015

468,000

6.400

12/15/36

476,520

256,000

4.125

08/13/42

212,503

250,000

4.875

11/13/43

227,820

350,000

4.600

05/13/46

305,230

270,000

5.000

07/15/52

246,421

Prudential

Financial,

Inc.

(

3M

USD

LIBOR

+

3.031%

)

1,007,000

5.375

05/15/45

(b)

997,022

(

3M

USD

LIBOR

+

2.380%

)

195,000

4.500

09/15/47

(b)

184,196

210,000

3.905

12/07/47

161,357

246,000

3.935

12/07/49

187,069

(

US

5

Year

CMT

T-Note

+

3.035%

)

192,000

3.700

10/01/50

(b)

166,261

Prudential

Financial,

Inc.

,

MTN

300,000

5.700

12/14/36

307,872

250,000

4.600

05/15/44

218,754

235,000

4.350

02/25/50

191,910

260,000

3.700

03/13/51

189,825

Travelers

Cos.,

Inc.

(The)

440,000

3.050

06/08/51

293,791

15,111,726

Metals

and

Mining

–

0.0%

Newmont

Corp.

270,000

2.250

10/01/30

227,754

Pharmaceuticals

–

0.1%

Viatris,

Inc.

540,000

3.850

06/22/40

393,183

REITs

and

Real

Estate

–

1.0%

Boston

Properties

LP

200,000

3.650

02/01/26

192,819

1,000,000

2.450

10/01/33

738,878

Digital

Realty

Trust

LP

450,000

5.550

01/15/28

453,210

830,000

3.600

07/01/29

765,038

Equinix,

Inc.

270,000

3.200

11/18/29

242,172

204,000

2.150

07/15/30

169,173

200,000

2.500

05/15/31

166,178

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

580,000

5.375

04/15/26

575,394

336,000

5.300

01/15/29

330,253

130,000

3.250

01/15/32

107,843

Prologis

LP

100,000

2.250

04/15/30

85,239

140,000

1.250

10/15/30

111,198

1,000,000

5.125

01/15/34

985,210

Realty

Income

Corp.

200,000

3.250

01/15/31

177,125

Simon

Property

Group

LP

160,000

3.300

01/15/26

154,877

68,000

3.250

11/30/26

64,922

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

REITs

and

Real

Estate

–

(continued)

Simon

Property

Group

LP

–

(continued)

$

200,000

3.375

%

12/01/27

$

189,085

332,000

2.450

09/13/29

289,597

174,000

2.650

07/15/30

150,741

384,000

3.250

09/13/49

259,085

220,000

3.800

07/15/50

162,803

VICI

Properties

LP

300,000

4.750

02/15/28

291,062

750,000

4.950

02/15/30

720,293

400,000

5.125

05/15/32

378,848

Welltower

OP

LLC

290,000

4.250

04/15/28

279,489

276,000

3.100

01/15/30

246,808

8,287,340

Revenue

–

0.3%

Ascension

Health

200,000

3.945

11/15/46

166,073

Ascension

Health

,

Series

B

352,000

2.532

11/15/29

310,898

CommonSpirit

Health

220,000

3.347

10/01/29

201,506

217,000

4.350

11/01/42

185,866

400,000

4.187

10/01/49

319,274

Kaiser

Foundation

Hospitals

295,000

4.150

05/01/47

245,815

Kaiser

Foundation

Hospitals

,

Series

2019

286,000

3.266

11/01/49

203,034

Kaiser

Foundation

Hospitals

,

Series

2021

125,000

2.810

06/01/41

90,558

400,000

3.002

06/01/51

267,534

1,990,558

Software

–

1.6%

Oracle

Corp.

1,440,000

6.150

11/09/29

1,502,358

300,000

2.950

04/01/30

264,657

1,900,000

6.250

11/09/32

2,000,344

600,000

3.900

05/15/35

518,987

645,000

3.800

11/15/37

528,872

1,165,000

3.600

04/01/40

898,308

360,000

3.650

03/25/41

275,590

1,079,000

4.125

05/15/45

848,948

490,000

4.000

11/15/47

373,508

1,566,000

6.900

11/09/52

1,756,642

900,000

4.375

05/15/55

700,280

1,173,000

3.850

04/01/60

808,614

470,000

4.100

03/25/61

338,475

Salesforce,

Inc.

800,000

3.700

04/11/28

767,860

500,000

1.950

07/15/31

409,323

700,000

2.900

07/15/51

449,478

Workday,

Inc.

400,000

3.500

04/01/27

382,343

180,000

3.800

04/01/32

161,711

12,986,298

Technology

–

7.8%

Adobe,

Inc.

82,000

2.150

02/01/27

76,327

450,000

2.300

02/01/30

391,302

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

Alphabet,

Inc.

$

182,000

1.998

%

08/15/26

$

170,858

50,000

0.800

08/15/27

44,303

114,000

1.100

08/15/30

92,463

1,240,000

1.900

08/15/40

808,159

823,000

2.050

08/15/50

469,168

747,000

2.250

08/15/60

414,795

Analog

Devices,

Inc.

75,000

3.500

12/05/26

72,251

204,000

1.700

10/01/28

178,318

Apple,

Inc.

91,000

1.125

05/11/25

87,475

50,000

0.550

08/20/25

47,358

479,000

0.700

02/08/26

445,637

717,000

3.250

02/23/26

696,396

424,000

2.450

08/04/26

402,069

750,000

2.050

09/11/26

703,418

120,000

3.000

06/20/27

114,018

692,000

2.900

09/12/27

652,467

218,000

3.000

11/13/27

206,132

488,000

1.200

02/08/28

429,137

210,000

1.400

08/05/28

183,730

320,000

3.250

08/08/29

298,109

336,000

1.650

05/11/30

281,503

118,000

1.250

08/20/30

95,871

712,000

1.650

02/08/31

584,922

300,000

1.700

08/05/31

244,379

625,000

4.500

02/23/36

609,179

102,000

2.375

02/08/41

70,515

695,000

3.850

05/04/43

579,974

310,000

4.450

05/06/44

283,975

505,000

3.450

02/09/45

394,786

350,000

4.375

05/13/45

312,599

422,000

4.650

02/23/46

391,306

306,000

3.850

08/04/46

250,069

208,000

4.250

02/09/47

183,277

270,000

3.750

09/12/47

215,751

446,000

3.750

11/13/47

356,641

793,000

2.950

09/11/49

538,768

594,000

2.650

05/11/50

377,536

239,000

2.400

08/20/50

144,524

940,000

2.650

02/08/51

594,097

570,000

3.950

08/08/52

461,031

325,000

2.800

02/08/61

197,494

960,000

2.850

08/05/61

587,035

Applied

Materials,

Inc.

130,000

3.300

04/01/27

124,657

650,000

1.750

06/01/30

542,302

236,000

4.350

04/01/47

206,756

Automatic

Data

Processing,

Inc.

350,000

3.375

09/15/25

342,430

500,000

1.700

05/15/28

444,706

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

659,000

3.875

01/15/27

636,250

598,000

3.500

01/15/28

563,724

Broadcom,

Inc.

100,000

3.150

11/15/25

96,713

380,000

3.459

09/15/26

364,909

550,000

1.950

02/15/28

(a)

488,413

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

Broadcom,

Inc.

–

(continued)

$

605,000

4.750

%

04/15/29

$

595,035

248,000

4.150

11/15/30

232,046

514,000

2.450

02/15/31

(a)

429,989

470,000

4.300

11/15/32

436,192

805,000

3.419

04/15/33

(a)

688,480

290,000

3.469

04/15/34

(a)

245,472

600,000

3.137

11/15/35

(a)

478,651

604,000

3.187

11/15/36

(a)

471,703

600,000

3.500

02/15/41

(a)

459,218

460,000

3.750

02/15/51

(a)

340,318

Cisco

Systems,

Inc.

600,000

5.900

02/15/39

637,424

Dell

International

LLC

/

EMC

Corp.

1,425,000

4.900

10/01/26

1,411,079

100,000

5.250

02/01/28

100,470

200,000

5.300

10/01/29

200,699

50,000

5.750

02/01/33

51,261

250,000

8.100

07/15/36

298,278

450,000

3.375

12/15/41

330,522

Fidelity

National

Information

Services,

Inc.

570,000

1.150

03/01/26

528,674

Fiserv,

Inc.

150,000

3.850

06/01/25

147,115

440,000

3.200

07/01/26

421,404

1,000,000

5.450

03/02/28

1,005,688

300,000

4.200

10/01/28

286,719

500,000

3.500

07/01/29

461,185

400,000

4.400

07/01/49

326,582

Hewlett

Packard

Enterprise

Co.

400,000

4.900

10/15/25

396,209

300,000

6.350

10/15/45

318,443

HP,

Inc.

1,000,000

5.500

01/15/33

999,602

IBM

International

Capital

Pte

Ltd.

910,000

5.300

02/05/54

852,857

Intel

Corp.

1,000,000

3.700

07/29/25

979,402

1,200,000

4.875

02/10/26

1,192,901

290,000

3.150

05/11/27

275,072

200,000

3.750

08/05/27

192,357

1,600,000

4.000

08/05/29

1,522,776

700,000

5.125

02/10/30

700,759

250,000

3.900

03/25/30

233,611

500,000

4.900

07/29/45

460,765

500,000

4.100

05/19/46

401,376

250,000

3.734

12/08/47

184,789

260,000

4.900

08/05/52

229,037

1,000,000

5.700

02/10/53

979,575

500,000

3.100

02/15/60

303,750

500,000

3.200

08/12/61

305,291

International

Business

Machines

Corp.

260,000

4.000

07/27/25

255,792

550,000

3.450

02/19/26

533,944

655,000

1.700

05/15/27

595,347

1,086,000

1.950

05/15/30

909,262

540,000

4.150

05/15/39

461,831

180,000

4.000

06/20/42

146,476

300,000

4.250

05/15/49

242,146

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

International

Business

Machines

Corp.

–

(continued)

$

300,000

2.950

%

05/15/50

$

190,682

500,000

4.900

07/27/52

446,844

Intuit,

Inc.

500,000

5.200

09/15/33

500,551

100,000

5.500

09/15/53

100,186

KLA

Corp.

130,000

4.100

03/15/29

125,668

100,000

3.300

03/01/50

70,232

100,000

4.950

07/15/52

92,988

412,000

5.250

07/15/62

394,506

Lam

Research

Corp.

238,000

4.000

03/15/29

227,880

228,000

1.900

06/15/30

191,030

220,000

4.875

03/15/49

201,879

352,000

2.875

06/15/50

230,795

Leidos,

Inc.

300,000

4.375

05/15/30

280,875

565,000

2.300

02/15/31

462,804

300,000

5.750

03/15/33

302,741

Meta

Platforms,

Inc.

1,000,000

4.600

05/15/28

993,753

100,000

3.850

08/15/32

92,162

750,000

4.950

05/15/33

750,095

800,000

4.450

08/15/52

682,244

Microchip

Technology,

Inc.

490,000

5.050

03/15/29

485,137

Microsoft

Corp.

133,000

3.125

11/03/25

129,380

240,000

2.400

08/08/26

227,381

87,000

3.300

02/06/27

83,810

960,000

3.500

02/12/35

862,346

470,000

3.450

08/08/36

406,963

81,000

4.100

02/06/37

75,280

238,000

4.450

11/03/45

221,153

300,000

3.700

08/08/46

245,419

270,000

4.250

02/06/47

244,946

1,047,000

2.525

06/01/50

658,136

620,000

2.500

09/15/50

(a)

381,565

1,540,000

2.921

03/17/52

1,039,307

632,000

2.675

06/01/60

383,592

400,000

3.041

03/17/62

260,463

Motorola

Solutions,

Inc.

624,000

4.600

05/23/29

606,573

430,000

2.750

05/24/31

362,678

NVIDIA

Corp.

475,000

1.550

06/15/28

420,384

400,000

2.000

06/15/31

333,723

150,000

3.500

04/01/40

123,960

660,000

3.500

04/01/50

504,874

PayPal

Holdings,

Inc.

250,000

1.650

06/01/25

240,773

1,060,000

4.400

06/01/32

1,008,774

50,000

3.250

06/01/50

34,140

QUALCOMM,

Inc.

235,000

3.450

05/20/25

230,739

304,000

3.250

05/20/27

290,594

200,000

1.300

05/20/28

174,547

126,000

2.150

05/20/30

107,846

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

QUALCOMM,

Inc.

–

(continued)

$

1,000,000

1.650

%

05/20/32

$

779,416

320,000

4.650

05/20/35

310,520

358,000

4.800

05/20/45

332,724

250,000

4.300

05/20/47

214,642

570,000

4.500

05/20/52

491,084

100,000

6.000

05/20/53

107,429

Texas

Instruments,

Inc.

1,000,000

4.150

05/15/48

829,287

VMware

LLC

300,000

1.400

08/15/26

274,520

100,000

3.900

08/21/27

95,496

62,725,072

Transportation

–

1.2%

Burlington

Northern

Santa

Fe

LLC

100,000

4.450

03/15/43

87,688

200,000

4.900

04/01/44

184,704

200,000

4.150

04/01/45

165,758

100,000

3.900

08/01/46

79,405

280,000

4.150

12/15/48

228,509

600,000

3.300

09/15/51

416,767

1,112,000

4.450

01/15/53

946,208

CSX

Corp.

250,000

3.800

03/01/28

240,174

270,000

4.100

03/15/44

223,245

700,000

3.800

11/01/46

544,943

300,000

4.500

11/15/52

256,953

FedEx

Corp.

200,000

4.250

05/15/30

191,481

180,000

2.400

05/15/31

151,072

344,000

5.100

01/15/44

311,421

430,000

4.750

11/15/45

369,258

878,000

4.550

04/01/46

730,070

FedEx

Corp.

2020-1

Class

AA

Pass

Through

Trust

,

Series

20-1,

AA

121,927

1.875

02/20/34

99,667

Southwest

Airlines

Co.

300,000

5.125

06/15/27

298,091

Union

Pacific

Corp.

180,000

2.400

02/05/30

156,515

1,588,000

2.800

02/14/32

1,361,573

278,000

3.799

10/01/51

213,266

95,000

2.950

03/10/52

61,509

408,000

3.839

03/20/60

298,595

446,000

3.799

04/06/71

314,347

United

Parcel

Service,

Inc.

100,000

3.400

03/15/29

93,813

940,000

4.875

03/03/33

923,492

1,000,000

3.750

11/15/47

766,981

9,715,505

Water

–

0.0%

American

Water

Capital

Corp.

355,000

4.450

06/01/32

337,989

Wireless

–

5.4%

American

Tower

Corp.

400,000

4.000

06/01/25

393,613

556,000

3.375

10/15/26

530,755

200,000

2.750

01/15/27

187,648

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Wireless

–

(continued)

American

Tower

Corp.

–

(continued)

$

361,000

3.800

%

08/15/29

$

334,345

80,000

2.900

01/15/30

70,228

300,000

1.875

10/15/30

242,306

590,000

5.900

11/15/33

604,385

251,000

3.100

06/15/50

160,922

AT&T,

Inc.

900,000

5.539

02/20/26

899,787

551,000

3.800

02/15/27

532,007

346,000

4.250

03/01/27

338,328

539,000

2.300

06/01/27

495,990

75,000

1.650

02/01/28

66,374

300,000

4.100

02/15/28

289,275

912,000

4.350

03/01/29

878,874

1,629,000

4.300

02/15/30

1,551,861

389,000

2.750

06/01/31

330,605

428,000

2.250

02/01/32

345,272

1,630,000

2.550

12/01/33

1,283,936

690,000

5.400

02/15/34

683,659

685,000

4.500

05/15/35

625,824

140,000

4.850

03/01/39

128,128

330,000

4.350

06/15/45

275,291

435,000

4.750

05/15/46

379,784

293,000

4.500

03/09/48

242,408

225,000

4.550

03/09/49

187,063

538,000

3.650

06/01/51

381,195

130,000

3.300

02/01/52

87,028

1,560,000

3.500

09/15/53

1,055,179

1,358,000

3.550

09/15/55

916,626

530,000

3.800

12/01/57

368,987

1,119,000

3.650

09/15/59

750,986

192,000

3.850

06/01/60

134,432

Crown

Castle,

Inc.

420,000

3.700

06/15/26

405,733

500,000

5.000

01/11/28

492,853

Sprint

Capital

Corp.

576,000

6.875

11/15/28

606,960

994,000

8.750

03/15/32

1,185,966

T-Mobile

USA,

Inc.

390,000

1.500

02/15/26

365,086

600,000

2.250

02/15/26

568,966

900,000

3.750

04/15/27

864,486

655,000

4.950

03/15/28

649,501

50,000

4.800

07/15/28

49,308

300,000

2.625

02/15/29

267,719

700,000

3.375

04/15/29

644,190

900,000

3.875

04/15/30

835,956

1,060,000

2.550

02/15/31

895,146

270,000

2.875

02/15/31

232,896

408,000

2.250

11/15/31

331,343

408,000

2.700

03/15/32

339,916

500,000

5.050

07/15/33

486,683

1,430,000

5.750

01/15/34

1,466,773

640,000

4.375

04/15/40

558,101

500,000

3.000

02/15/41

359,222

750,000

4.500

04/15/50

626,463

500,000

3.300

02/15/51

337,329

100,000

3.400

10/15/52

68,057

200,000

5.650

01/15/53

196,766

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Wireless

–

(continued)

T-Mobile

USA,

Inc.

–

(continued)

$

500,000

5.750

%

01/15/54

$

499,255

400,000

3.600

11/15/60

269,928

100,000

5.800

09/15/62

99,875

Verizon

Communications,

Inc.

1,825,000

0.850

11/20/25

1,709,850

930,000

1.450

03/20/26

869,554

559,000

4.125

03/16/27

545,324

250,000

3.000

03/22/27

236,239

710,000

2.100

03/22/28

637,270

922,000

4.329

09/21/28

893,394

771,000

4.016

12/03/29

728,831

384,000

3.150

03/22/30

344,478

236,000

1.500

09/18/30

191,077

85,000

1.680

10/30/30

68,539

670,000

2.550

03/21/31

564,850

650,000

2.355

03/15/32

528,867

985,000

5.050

05/09/33

968,655

800,000

4.400

11/01/34

739,783

220,000

4.272

01/15/36

198,630

445,000

5.250

03/16/37

438,682

1,460,000

2.650

11/20/40

1,009,914

610,000

3.400

03/22/41

468,240

60,000

6.550

09/15/43

66,117

650,000

4.862

08/21/46

595,147

401,000

4.522

09/15/48

342,072

400,000

2.875

11/20/50

252,337

800,000

3.550

03/22/51

574,516

150,000

2.987

10/30/56

91,886

446,000

3.000

11/20/60

267,144

555,000

3.700

03/22/61

391,491

43,180,465

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$695,782,683)

644,562,463

a

Foreign

Corporate

Debt

–

17.8%

Banks

–

12.0%

Australia

&

New

Zealand

Banking

Group

Ltd.

(

Australia

)

590,000

5.088

12/08/25

588,557

Australia

&

New

Zealand

Banking

Group

Ltd.

,

MTN

(

Australia

)

400,000

3.700

11/16/25

390,951

250,000

4.750

01/18/27

247,755

Banco

Bilbao

Vizcaya

Argentaria

SA

(

Spain

)

200,000

1.125

09/18/25

188,779

Banco

Santander

SA

(

Spain

)

1,432,000

2.746

05/28/25

1,391,222

800,000

5.179

11/19/25

792,193

600,000

1.849

03/25/26

561,991

800,000

4.250

04/11/27

773,947

2,000,000

5.294

08/18/27

1,983,558

310,000

4.379

04/12/28

297,334

600,000

6.607

11/07/28

630,324

325,000

3.490

05/28/30

288,676

(

US

1

Year

CMT

T-Note

+

0.900%

)

600,000

1.722

09/14/27

(b)

549,054

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

(

US

1

Year

CMT

T-Note

+

1.600%

)

$

336,000

3.225

%

11/22/32

(b)

$

281,215

Bank

of

Montreal

(

Canada

)

100,000

5.920

09/25/25

100,583

750,000

5.203

02/01/28

750,873

(

5

Year

USD

Swap

+

1.432%

)

810,000

3.803

12/15/32

(b)

757,392

(

US

5

Year

CMT

T-Note

+

1.400%

)

670,000

3.088

01/10/37

(b)

543,559

Bank

of

Montreal

,

MTN

(

Canada

)

750,000

1.850

05/01/25

725,535

Bank

of

Nova

Scotia

(The)

(

Canada

)

448,000

1.300

06/11/25

429,221

566,000

4.500

12/16/25

553,734

1,000,000

1.050

03/02/26

928,942

220,000

2.700

08/03/26

207,927

80,000

1.950

02/02/27

73,541

750,000

4.850

02/01/30

733,581

530,000

2.450

02/02/32

434,409

490,000

5.650

02/01/34

496,013

Barclays

PLC

(

United

Kingdom

)

1,035,000

4.375

01/12/26

1,015,278

210,000

5.200

05/12/26

207,328

850,000

4.836

05/09/28

821,880

330,000

5.250

08/17/45

315,213

436,000

4.950

01/10/47

393,011

(

SOFR

+

2.714%

)

200,000

2.852

05/07/26

(b)

194,998

(

US

1

Year

CMT

T-Note

+

3.300%

)

1,000,000

7.385

11/02/28

(b)

1,049,631

(

US

1

Year

CMT

T-Note

+

1.200%

)

424,000

2.667

03/10/32

(b)

351,284

(

US

1

Year

CMT

T-Note

+

3.000%

)

595,000

5.746

08/09/33

(b)

595,050

(

SOFR

+

2.980%

)

1,000,000

6.224

05/09/34

(b)

1,022,674

(

SOFR

+

3.570%

)

500,000

7.119

06/27/34

(b)

528,589

(

US

5

Year

CMT

T-Note

+

2.900%

)

960,000

3.564

09/23/35

(b)

824,433

(

US

1

Year

CMT

T-Note

+

1.700%

)

500,000

3.811

03/10/42

(b)

385,662

(

US

1

Year

CMT

T-Note

+

1.300%

)

1,000,000

3.330

11/24/42

(b)

724,922

Canadian

Imperial

Bank

of

Commerce

(

Canada

)

1,880,000

3.945

08/04/25

1,846,361

1,000,000

3.600

04/07/32

880,764

Cooperatieve

Rabobank

UA

(

Netherlands

)

1,105,000

3.750

07/21/26

1,063,703

145,000

5.250

05/24/41

143,333

250,000

5.750

12/01/43

250,541

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

Cooperatieve

Rabobank

UA

(Netherlands)

–

(continued)

$

485,000

5.250

%

08/04/45

$

463,061

Deutsche

Bank

AG

(

Germany

)

(

SOFR

+

1.870%

)

1,000,000

2.129

11/24/26

(b)

946,751

(

SOFR

+

1.219%

)

1,574,000

2.311

11/16/27

(b)

1,441,350

(

SOFR

+

3.180%

)

800,000

6.720

01/18/29

(b)

828,095

(

SOFR

+

3.043%

)

410,000

3.547

09/18/31

(b)

360,382

(

SOFR

+

1.718%

)

370,000

3.035

05/28/32

(b)

309,887

(

SOFR

+

2.257%

)

600,000

3.742

01/07/33

(b)

497,690

HSBC

Holdings

PLC

(

United

Kingdom

)

260,000

4.375

11/23/26

252,794

694,000

6.500

09/15/37

717,962

302,000

6.100

01/14/42

322,682

(

3M

U.S.

T-Bill

MMY  +

1.808

)

1,455,000

4.041

03/13/28

(b)

1,400,737

(

SOFR

+

2.610%

)

710,000

5.210

08/11/28

(b)

701,477

(

SOFR

+

1.732%

)

200,000

2.013

09/22/28

(b)

179,099

(

SOFR

+

3.350%

)

290,000

7.390

11/03/28

(b)

305,377

(

SOFR

+

1.970%

)

1,155,000

6.161

03/09/29

(b)

1,180,207

(

3M

U.S.

T-Bill

MMY  +

1.796

)

1,100,000

4.583

06/19/29

(b)

1,058,266

(

SOFR

+

1.460%

)

2,000,000

5.546

03/04/30

(b)

2,002,846

(

3M

U.S.

T-Bill

MMY  +

1.872

)

771,000

3.973

05/22/30

(b)

718,654

(

SOFR

+

2.870%

)

502,000

5.402

08/11/33

(b)

496,691

(

SOFR

+

4.250%

)

1,036,000

8.113

11/03/33

(b)

1,178,171

(

SOFR

+

2.390%

)

1,420,000

6.254

03/09/34

(b)

1,474,742

(

SOFR

+

2.980%

)

1,000,000

6.547

06/20/34

(b)

1,035,373

(

SOFR

+

3.020%

)

300,000

7.399

11/13/34

(b)

326,976

(

SOFR

+

2.650%

)

400,000

6.332

03/09/44

(b)

422,138

ING

Groep

NV

(

Netherlands

)

200,000

3.950

03/29/27

192,850

490,000

4.550

10/02/28

475,892

330,000

4.050

04/09/29

313,605

(

SOFR

+

1.005%

)

800,000

1.726

04/01/27

(b)

747,414

(

SOFR

+

1.830%

)

500,000

4.017

03/28/28

(b)

481,666

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

(

SOFR

+

1.316%

)

$

690,000

2.727

%

04/01/32

(b)

$

582,919

(

SOFR

+

2.090%

)

940,000

6.114

09/11/34

(b)

971,239

Lloyds

Banking

Group

PLC

(

United

Kingdom

)

740,000

4.450

05/08/25

732,847

400,000

4.582

12/10/25

392,248

1,500,000

3.750

01/11/27

1,440,700

940,000

4.375

03/22/28

907,542

200,000

5.300

12/01/45

184,553

490,000

4.344

01/09/48

383,842

(

3M

USD

LIBOR

+

1.205%

)

1,420,000

3.574

11/07/28

(b)

1,330,794

Mitsubishi

UFJ

Financial

Group,

Inc.

(

Japan

)

(

US

1

Year

CMT

T-Note

+

0.830%

)

1,300,000

2.341

01/19/28

(b)

1,205,316

190,000

3.961

03/02/28

182,346

194,000

3.741

03/07/29

182,677

440,000

3.751

07/18/39

367,166

(

US

1

Year

CMT

T-Note

+

1.950%

)

800,000

5.017

07/20/28

(b)

794,116

(

US

1

Year

CMT

T-Note

+

1.900%

)

300,000

5.354

09/13/28

(b)

300,148

(

US

1

Year

CMT

T-Note

+

1.380%

)

1,800,000

5.422

02/22/29

(b)

1,808,816

(

US

1

Year

CMT

T-Note

+

0.950%

)

200,000

2.309

07/20/32

(b)

163,948

(

US

1

Year

CMT

T-Note

+

1.100%

)

300,000

2.852

01/19/33

(b)

253,449

(

US

1

Year

CMT

T-Note

+

2.125%

)

200,000

5.133

07/20/33

(b)

196,501

(

US

1

Year

CMT

T-Note

+

1.630%

)

1,000,000

5.441

02/22/34

(b)

1,008,478

Mizuho

Financial

Group,

Inc.

(

Japan

)

490,000

2.839

09/13/26

463,375

300,000

2.564

09/13/31

243,322

(

US

1

Year

CMT

T-Note

+

0.670%

)

500,000

1.234

05/22/27

(b)

459,970

(

US

1

Year

CMT

T-Note

+

1.500%

)

300,000

5.667

05/27/29

(b)

302,033

(

3M

U.S.

T-Bill

MMY  +

1.532

)

800,000

4.254

09/11/29

(b)

765,468

300,000

1.979

09/08/31

(b)

244,056

(

3M

U.S.

T-Bill

MMY  +

1.392

)

430,000

3.153

07/16/30

(b)

384,844

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

(

US

1

Year

CMT

T-Note

+

1.300%

)

$

1,000,000

5.579

%

05/26/35

(b)

$

997,247

National

Australia

Bank

Ltd.

(

Australia

)

500,000

4.787

01/10/29

493,430

NatWest

Group

PLC

(

United

Kingdom

)

846,000

4.800

04/05/26

835,403

(

US

1

Year

CMT

T-Note

+

0.900%

)

870,000

1.642

06/14/27

(b)

800,337

(

US

1

Year

CMT

T-Note

+

2.550%

)

355,000

3.073

05/22/28

(b)

331,643

(

3M

USD

LIBOR

+

1.754%

)

345,000

4.892

05/18/29

(b)

335,318

(

3M

USD

LIBOR

+

1.905%

)

470,000

5.076

01/27/30

(b)

460,095

(

3M

USD

LIBOR

+

1.871%

)

370,000

4.445

05/08/30

(b)

352,835

(

US

5

Year

CMT

T-Note

+

2.350%

)

420,000

3.032

11/28/35

(b)

352,624

Royal

Bank

of

Canada

(

Canada

)

230,000

1.200

04/27/26

213,118

800,000

3.625

05/04/27

767,647

Royal

Bank

of

Canada

,

GMTN

(

Canada

)

920,000

0.875

01/20/26

859,557

243,000

4.650

01/27/26

239,908

250,000

5.200

07/20/26

249,418

264,000

1.400

11/02/26

241,646

500,000

4.240

08/03/27

487,073

1,000,000

4.900

01/12/28

990,547

1,000,000

4.950

02/01/29

992,959

250,000

2.300

11/03/31

205,171

300,000

5.000

02/01/33

294,123

300,000

5.000

05/02/33

295,205

Royal

Bank

of

Canada

,

MTN

(

Canada

)

230,000

1.150

06/10/25

220,405

Santander

UK

Group

Holdings

PLC

(

United

Kingdom

)

(

SOFR

+

0.989%

)

820,000

1.673

06/14/27

(b)

757,205

(

3M

USD

LIBOR

+

1.400%

)

1,260,000

3.823

11/03/28

(b)

1,183,779

Sumitomo

Mitsui

Financial

Group,

Inc.

(

Japan

)

900,000

2.632

07/14/26

850,022

580,000

1.402

09/17/26

529,732

240,000

3.446

01/11/27

229,535

2,550,000

5.808

09/14/33

2,637,000

Toronto-Dominion

Bank

(The)

(

Canada

)

2,000,000

5.156

01/10/28

1,994,668

(

5

Year

USD

Swap

+

2.205%

)

2,000,000

3.625

09/15/31

(b)

1,913,417

Toronto-Dominion

Bank

(The)

,

MTN

(

Canada

)

120,000

2.000

09/10/31

96,696

UBS

AG

(

Switzerland

)

930,000

5.000

07/09/27

917,147

500,000

4.500

06/26/48

440,278

UBS

Group

AG

(

Switzerland

)

440,000

4.550

04/17/26

432,495

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

UBS

Group

AG

(Switzerland)

–

(continued)

$

1,000,000

4.875

%

05/15/45

$

910,753

(

SOFR

+

3.730%

)

3,800,000

4.194

04/01/31

(a)(b)

3,546,981

Westpac

Banking

Corp.

(

Australia

)

200,000

2.850

05/13/26

191,137

190,000

1.150

06/03/26

175,590

290,000

3.350

03/08/27

277,632

130,000

5.457

11/18/27

131,789

40,000

3.400

01/25/28

37,852

211,000

2.650

01/16/30

186,691

400,000

2.150

06/03/31

332,141

186,000

4.421

07/24/39

162,823

100,000

2.963

11/16/40

69,840

550,000

3.133

11/18/41

384,737

(

US

5

Year

CMT

T-Note

+

2.000%

)

340,000

4.110

07/24/34

(b)

313,943

(

US

5

Year

CMT

T-Note

+

1.750%

)

300,000

2.668

11/15/35

(b)

246,646

(

US

5

Year

CMT

T-Note

+

1.530%

)

450,000

3.020

11/18/36

(b)

370,229

Westpac

Banking

Corp.

,

GMTN

(

Australia

)

(

5

Year

USD

Swap

+

2.236%

)

386,000

4.322

11/23/31

(b)

371,825

96,109,361

Beverages

–

0.0%

Coca-Cola

Femsa

SAB

de

CV

(

Mexico

)

280,000

2.750

01/22/30

246,955

Brokerage

–

0.4%

Brookfield

Finance,

Inc.

(

Canada

)

686,000

3.900

01/25/28

656,769

120,000

4.850

03/29/29

117,491

279,000

4.350

04/15/30

263,867

237,000

4.700

09/20/47

199,962

Nomura

Holdings,

Inc.

(

Japan

)

300,000

2.172

07/14/28

263,461

300,000

2.679

07/16/30

254,252

550,000

2.608

07/14/31

451,895

780,000

2.999

01/22/32

653,074

2,860,771

Consumer

Cyclical

–

0.0%

Honda

Motor

Co.

Ltd.

(

Japan

)

243,000

2.967

03/10/32

212,053

Toyota

Motor

Corp.

(

Japan

)

80,000

1.339

03/25/26

74,825

286,878

Consumer

Noncyclical

–

0.9%

Astrazeneca

Finance

LLC

(

United

Kingdom

)

100,000

1.200

05/28/26

92,563

400,000

4.875

03/03/28

398,443

1,000,000

4.850

02/26/29

992,789

300,000

2.250

05/28/31

252,790

AstraZeneca

PLC

(

United

Kingdom

)

1,000,000

3.375

11/16/25

974,997

1,000,000

4.000

01/17/29

961,408

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Consumer

Noncyclical

–

(continued)

AstraZeneca

PLC

(United

Kingdom)

–

(continued)

$

500,000

6.450

%

09/15/37

$

554,272

200,000

4.375

08/17/48

173,190

100,000

3.000

05/28/51

67,413

GlaxoSmithKline

Capital,

Inc.

(

United

Kingdom

)

900,000

3.875

05/15/28

867,755

511,000

6.375

05/15/38

564,020

Novartis

Capital

Corp.

(

Switzerland

)

1,000,000

2.000

02/14/27

930,056

200,000

4.400

05/06/44

178,167

120,000

4.000

11/20/45

100,342

200,000

2.750

08/14/50

128,549

Takeda

Pharmaceutical

Co.

Ltd.

(

Japan

)

250,000

3.175

07/09/50

168,635

7,405,389

Consumer

Products

–

0.1%

Unilever

Capital

Corp.

(

United

Kingdom

)

100,000

2.900

05/05/27

94,740

500,000

3.500

03/22/28

476,182

500,000

2.125

09/06/29

436,383

132,000

5.900

11/15/32

140,023

1,147,328

Electric

–

0.0%

Emera  U.S.

Finance

LP

(

Canada

)

200,000

4.750

06/15/46

161,566

Energy

–

0.8%

Canadian

Natural

Resources

Ltd.

(

Canada

)

409,000

3.850

06/01/27

392,092

300,000

6.250

03/15/38

308,741

Canadian

Natural

Resources

Ltd.

,

GMTN

(

Canada

)

214,000

4.950

06/01/47

186,417

Enbridge,

Inc.

(

Canada

)

100,000

5.900

11/15/26

101,100

484,000

3.125

11/15/29

435,590

170,000

6.200

11/15/30

177,684

400,000

2.500

08/01/33

315,121

(

3M

U.S.

T-Bill

MMY  +

3.903%

)

570,000

6.250

03/01/78

(b)

543,637

TotalEnergies

Capital

International

SA

(

France

)

174,000

2.829

01/10/30

155,405

231,000

2.986

06/29/41

168,135

370,000

3.461

07/12/49

269,275

500,000

3.127

05/29/50

339,452

340,000

3.386

06/29/60

229,400

TotalEnergies

Capital

SA

(

France

)

96,000

3.883

10/11/28

92,186

950,000

5.150

04/05/34

951,265

1,490,000

5.488

04/05/54

1,479,161

6,144,661

Financial

Company

–

0.4%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

(

Ireland

)

450,000

6.500

07/15/25

453,665

952,000

2.450

10/29/26

884,489

300,000

3.000

10/29/28

271,541

200,000

5.100

01/19/29

196,505

632,000

3.300

01/30/32

540,348

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Financial

Company

–

(continued)

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

(Ireland)

–

(continued)

$

300,000

3.400

%

10/29/33

$

249,775

480,000

3.850

10/29/41

375,120

2,971,443

Food

and

Beverage

–

1.2%

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

(

Belgium

)

1,480,000

4.700

02/01/36

1,397,790

1,866,000

4.900

02/01/46

1,712,834

Anheuser-Busch

InBev

Finance,

Inc.

(

Belgium

)

780,000

4.625

02/01/44

693,991

600,000

4.900

02/01/46

543,044

Anheuser-Busch

InBev

Worldwide,

Inc.

(

Belgium

)

628,000

4.750

01/23/29

623,413

281,000

4.900

01/23/31

280,241

293,000

4.375

04/15/38

264,646

340,000

5.450

01/23/39

341,192

100,000

4.350

06/01/40

87,761

244,000

4.950

01/15/42

229,177

58,000

4.600

04/15/48

50,915

756,000

4.439

10/06/48

644,663

632,000

5.550

01/23/49

632,009

214,000

4.750

04/15/58

188,514

832,000

5.800

01/23/59

860,177

Diageo

Capital

PLC

(

United

Kingdom

)

200,000

1.375

09/29/25

189,499

700,000

2.375

10/24/29

614,672

420,000

5.625

10/05/33

434,120

9,788,658

Forest

Products

&

Paper

–

0.2%

Suzano

Austria

GmbH

(

Brazil

)

800,000

6.000

01/15/29

792,577

Suzano

Austria

GmbH

,

Series

DM3N

(

Brazil

)

968,000

3.125

01/15/32

784,833

1,577,410

Insurance

–

0.2%

AXA

SA

(

France

)

560,000

8.600

12/15/30

650,880

Manulife

Financial

Corp.

(

Canada

)

(

5

Year

USD

Swap

+

1.647%

)

100,000

4.061

02/24/32

(b)

95,851

530,000

3.703

03/16/32

481,330

186,000

5.375

03/04/46

178,524

1,406,585

Internet

–

0.0%

Alibaba

Group

Holding

Ltd.

(

China

)

400,000

4.400

12/06/57

321,425

Lodging

–

0.2%

Sands

China

Ltd.

(

Macau

)

290,000

5.125

08/08/25

287,463

500,000

4.050

01/08/26

485,625

740,000

5.400

08/08/28

727,975

1,501,063

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Metals

–

0.0%

ArcelorMittal

SA

(

Luxembourg

)

$

370,000

6.550

%

11/29/27

$

383,054

Mining

–

0.2%

Southern

Copper

Corp.

(

Mexico

)

941,000

7.500

07/27/35

1,079,544

186,000

6.750

04/16/40

203,013

166,000

5.250

11/08/42

153,782

206,000

5.875

04/23/45

203,256

1,639,595

Oil

Company-Integrated

–

0.1%

Ecopetrol

SA

(

Colombia

)

1,000,000

4.625

11/02/31

818,677

Technology

–

0.3%

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

(

China

)

1,000,000

4.300

06/18/29

955,287

226,000

3.400

05/01/30

204,859

263,000

2.500

05/11/31

219,625

533,000

2.650

02/15/32

440,148

285,000

5.000

01/15/33

277,672

2,097,591

Telecommunications

–

0.2%

America

Movil

SAB

de

CV

(

Mexico

)

200,000

4.700

07/21/32

192,430

916,000

6.375

03/01/35

986,046

100,000

6.125

03/30/40

103,942

440,000

4.375

07/16/42

375,423

1,657,841

Transportation

–

0.1%

Canadian

Pacific

Railway

Co.

(

Canada

)

530,000

2.450

12/02/31

480,475

Wirelines

–

0.5%

Bell

Telephone

Co.

of

Canada

or

Bell

Canada

(

Canada

)

1,000,000

5.100

05/11/33

973,741

Deutsche

Telekom

International

Finance

BV

(

Germany

)

590,000

8.750

06/15/30

687,911

Orange

SA

(

France

)

740,000

9.000

03/01/31

887,590

100,000

5.375

01/13/42

96,924

Telefonica

Emisiones

SA

(

Spain

)

500,000

7.045

06/20/36

545,199

700,000

4.895

03/06/48

601,431

3,792,796

TOTAL

FOREIGN

CORPORATE

DEBT

(Cost

$148,081,889)

142,799,522

GOLDMAN

SACHS

ACCESS

INVESTMENT

GRADE

CORPORATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.6%

(c)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

4,800,912

5.227%

$

4,800,912

(Cost

$4,800,912)

TOTAL

INVESTMENTS

–

98.9%

(Cost

$848,665,484)

$

792,162,897

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

1.1%

8,461,157

NET

ASSETS

–

100.0%

$

800,624,054

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

(b)

Variable

rate

security.

Interest

rate

or

distribution

rate

disclosed

is

that

which

is

in

effect

on

May

31,

2024.

(c)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

CMT

—

Constant

Maturity

Treasury

Index

GMTN

—

Global

Medium

Term

Note

LIBOR

—

London

Interbank

Offered

Rate

LP

—

Limited

Partnership

MMY

—

Money

Market

Yield

MTN

—

Medium

Term

Note

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

SOFR

—

Secured

Overnight

Financing

Rate

SOFRINDX

—

Secured

Overnight

Financing

Rate

Index

T-Bill

—

Treasury

Bill

GOLDMAN

SACHS

ACCESS

TREASURY

0-1

YEAR

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

(a)

Maturity

Date

Value

a

U.S.

Treasury

Bills

-

88.8%

U.S.

Treasury

Bills

$

615,000

5.330%

07/05/24

$

612,144

1,608,000

5.340

07/05/24

1,600,531

328,000

5.350

07/05/24

326,477

4,612,000

5.360

07/05/24

4,590,580

140,488,000

5.370

07/05/24

139,835,495

348,000

5.380

07/05/24

346,384

64,437,900

5.400

07/05/24

64,138,614

754,000

5.430

07/05/24

750,498

12,000

5.340

07/11/24

11,934

633,000

5.350

07/11/24

629,506

225,158,200

5.390

07/11/24

223,915,168

48,000

5.391

07/11/24

47,735

20,000

5.396

07/11/24

19,890

13,677,000

5.400

07/11/24

13,601,493

72,000

5.350

07/16/24

71,549

632,000

5.360

07/16/24

628,041

312,000

5.370

07/16/24

310,045

123,560,000

5.400

07/16/24

122,785,945

1,236,000

5.340

07/23/24

1,227,001

2,065,000

5.350

07/23/24

2,049,965

188,922,900

5.360

07/23/24

187,547,415

4,396,000

5.370

07/23/24

4,363,995

247,807,700

5.380

07/23/24

246,003,494

86,041,400

5.390

07/23/24

85,414,961

300,000,000

5.400

07/23/24

297,815,799

594,000

5.410

07/23/24

589,675

2,288,000

5.450

07/23/24

2,271,342

305,000

5.320

07/25/24

302,693

183,000

5.340

07/25/24

181,616

14,751,400

5.400

07/25/24

14,639,840

180,000

5.340

08/06/24

178,324

375,000

5.350

08/06/24

371,508

185,000

5.370

08/06/24

183,278

13,903,200

5.380

08/06/24

13,773,752

64,586,400

5.400

08/06/24

63,985,061

15,883,300

5.260

08/08/24

15,731,426

38,819,800

5.330

08/08/24

38,448,610

8,867,400

5.340

08/08/24

8,782,611

304,000

5.350

08/08/24

301,093

180,000

5.390

08/08/24

178,279

255,000

5.340

08/13/24

252,372

1,496,000

5.350

08/13/24

1,480,580

156,000

5.360

08/13/24

154,392

1,292,000

5.370

08/13/24

1,278,683

765,000

5.390

08/13/24

757,115

71,316,800

5.400

08/13/24

70,581,720

116,564,500

5.410

08/13/24

115,363,040

75,346,200

5.420

08/13/24

74,569,588

962,000

5.450

08/13/24

952,084

179,165,000

5.330

08/22/24

177,094,526

48,556,700

5.350

08/22/24

47,995,567

784,000

5.360

08/22/24

774,940

3,036,000

5.370

08/22/24

3,000,915

4,325,000

5.380

08/22/24

4,275,019

20,000,000

5.390

08/22/24

19,768,875

213,830,800

5.400

08/22/24

211,359,719

1,196,000

5.430

08/22/24

1,182,179

324,000

5.360

09/03/24

319,681

601,000

5.370

09/03/24

592,988

718,000

5.380

09/03/24

708,429

Principal

Amount

Interest

Rate

(a)

Maturity

Date

Value

a

U.S.

Treasury

Bills

–

(continued)

U.S.

Treasury

Bills

–

(continued)

$

135,951,000

5.420%

09/03/24

$

134,138,717

63,000

5.330

09/05/24

62,148

162,000

5.340

09/05/24

159,810

32,000

5.350

09/05/24

31,568

22,120,600

5.470

09/05/24

21,821,378

494,000

5.290

09/19/24

486,283

1,300,000

5.310

09/19/24

1,279,692

126,409,600

5.320

09/19/24

124,434,884

390,000

5.330

09/19/24

383,908

364,000

5.350

09/19/24

358,314

442,000

5.360

09/19/24

435,095

4,112,000

5.370

09/19/24

4,047,765

1,196,000

5.380

09/19/24

1,177,316

676,000

5.400

09/19/24

665,440

910,000

5.370

09/24/24

895,171

364,999,000

5.410

09/24/24

359,050,978

75,000

5.350

09/26/24

73,756

2,751,700

5.370

09/26/24

2,706,074

25,000,000

5.380

09/26/24

24,585,470

15,000

5.390

09/26/24

14,751

288,000

5.370

10/17/24

282,363

216,000

5.376

10/17/24

211,772

54,000

5.378

10/17/24

52,943

92,712,000

5.380

10/17/24

90,897,337

216,000

5.381

10/17/24

211,772

90,000

5.382

10/17/24

88,238

90,000

5.383

10/17/24

88,238

270,000

5.386

10/17/24

264,715

468,000

5.387

10/17/24

458,840

216,000

5.390

10/17/24

211,772

468,000

5.410

10/17/24

458,840

900,000

5.340

10/24/24

881,510

1,020,000

5.360

10/24/24

999,045

1,340,000

5.370

10/24/24

1,312,470

247,834,900

5.390

10/24/24

242,743,275

300,000

5.393

10/24/24

293,837

60,798,200

5.400

10/24/24

59,549,136

67,883,400

5.166

10/31/24

66,427,926

260,000

5.340

10/31/24

254,425

169,000

5.350

10/31/24

165,377

275,000

5.360

10/31/24

269,104

65,000

5.363

10/31/24

63,606

780,000

5.375

11/07/24

762,528

36,770,600

5.380

11/07/24

35,946,948

881,000

5.381

11/07/24

861,266

780,000

5.383

11/07/24

762,528

325,000

5.387

11/07/24

317,720

195,000

5.388

11/07/24

190,632

609,000

5.389

11/07/24

595,359

216,978,900

5.390

11/07/24

212,118,628

325,000

5.393

11/07/24

317,720

81,076,000

5.394

11/07/24

79,259,918

15,000,000

5.382

11/14/24

14,648,707

16,561,700

5.210

11/29/24

16,140,674

144,000

5.270

11/29/24

140,340

30,000

5.300

11/29/24

29,237

468,000

5.330

11/29/24

456,103

49,000

5.340

11/29/24

47,754

30,000

5.350

11/29/24

29,237

18,000

5.360

11/29/24

17,542

GOLDMAN

SACHS

ACCESS

TREASURY

0-1

YEAR

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

(a)

Maturity

Date

Value

a

U.S.

Treasury

Bills

–

(continued)

U.S.

Treasury

Bills

–

(continued)

$

2,315,200

5.387%

11/29/24

$

2,256,344

160,990,800

5.390

11/29/24

156,898,147

9,524,900

5.393

11/29/24

9,282,761

184,235,200

5.011

02/20/25

177,562,189

539,000

5.080

02/20/25

519,477

111,000

5.220

02/20/25

106,980

444,000

5.240

02/20/25

427,918

1,443,000

5.250

02/20/25

1,390,734

2,405,000

5.260

02/20/25

2,317,891

3,223,000

5.270

02/20/25

3,106,263

495,000

5.273

02/20/25

477,071

888,000

5.280

02/20/25

855,836

267,357,900

5.054

03/20/25

256,651,324

11,124,100

5.058

03/20/25

10,678,626

2,900,000

5.060

03/20/25

2,783,867

385,000

5.101

03/20/25

369,582

3,119,200

5.134

03/20/25

2,994,289

26,242,800

5.135

03/20/25

25,191,885

1,632,000

5.140

03/20/25

1,566,645

324,000

5.240

03/20/25

311,025

1,640,000

5.250

03/20/25

1,574,324

305,000

5.270

03/20/25

292,786

183,000

5.280

03/20/25

175,672

84,000

5.200

04/17/25

80,333

35,000

5.210

04/17/25

33,472

96,000

5.230

04/17/25

91,809

91,000

5.240

04/17/25

87,028

70,000

5.250

04/17/25

66,944

38,370,600

5.260

04/17/25

36,695,589

64,000

5.280

04/17/25

61,206

105,000

5.297

04/17/25

100,416

21,000

5.305

04/17/25

20,083

533,000

5.216

05/15/25

507,862

56,000

5.221

05/15/25

53,359

5,506,700

5.222

05/15/25

5,246,981

181,456,300

5.260

05/15/25

172,898,076

5,506,700

5.263

05/15/25

5,246,981

4,221,400

5.266

05/15/25

4,022,301

15,030,300

5.284

05/15/25

14,321,409

4,693,989,564

TOTAL

U.S.

TREASURY

BILLS

(Cost

$4,693,020,015)

4,693,989,564

a

U.S.

Treasury

Notes

-

11.0%

U.S.

Treasury

Notes

22,406,000

5.120

08/15/24

22,187,191

105,000

5.130

08/15/24

103,975

85,000

5.150

08/15/24

84,170

357,000

5.160

08/15/24

353,514

255,000

5.170

08/15/24

252,510

595,000

5.230

08/15/24

589,189

47,981,700

5.240

08/15/24

47,513,129

48,000

5.260

08/15/24

47,531

714,000

5.280

08/15/24

707,027

761,000

5.310

08/15/24

753,568

51,000

5.320

08/15/24

50,502

493,000

5.330

08/15/24

488,186

221,000

5.340

08/15/24

218,842

64,000

5.350

08/15/24

63,375

930,000

5.360

08/15/24

920,918

Principal

Amount

Interest

Rate

(a)

Maturity

Date

Value

a

U.S.

Treasury

Notes

–

(continued)

U.S.

Treasury

Notes

–

(continued)

$

534,000

5.370%

08/15/24

$

528,785

468,000

5.400

08/15/24

463,430

80,000

5.410

08/15/24

79,219

104,000

5.440

08/15/24

102,984

80,000

5.450

08/15/24

79,219

512,000

5.460

08/15/24

507,000

32,000

5.470

08/15/24

31,687

32,000

5.480

08/15/24

31,688

11,446,700

5.510

08/15/24

11,334,916

160,000

5.530

08/15/24

158,438

28,447,900

5.140

11/15/24

28,065,631

15,643,600

5.199

11/15/24

15,330,728

85,000

5.310

11/15/24

83,858

113,000

5.320

11/15/24

111,482

90,000

5.330

11/15/24

88,790

156,000

4.805

12/31/24

155,046

207,597,000

5.064

12/31/24

206,327,900

371,000

5.066

12/31/24

368,732

520,000

5.069

12/31/24

516,821

44,368,600

5.300

01/31/25

43,571,352

204,512,000

5.310

01/31/25

200,837,175

583,108,508

TOTAL

U.S.

TREASURY

NOTES

(Cost

$583,559,264)

583,108,508

TOTAL

INVESTMENTS

-

99.8%

(Cost

$5,276,579,279)

$

5,277,098,072

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

-

0.2%

9,151,464

NET

ASSETS

-

100.0%

$

5,286,249,536

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Interest

rates

represent

either

the

stated

coupon

rate,

annualized

yield

on

date

of

purchase

for

discounted

securities,

or,

for

floating

rate

securities,

the

current

reset

rate,

which

is

based

upon

current

interest

rate

indices.

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Asset-Backed

Securities

–

30.8%

Ally

Auto

Receivables

Trust

,

Series

2022-1,

Class

A3

$

2,140,760

3.310

%

11/15/26

$

2,113,925

American

Express

Credit

Account

Master

Trust

,

Series

2022-3,

Class

A

2,450,000

3.750

08/15/27

2,402,246

American

Express

Credit

Account

Master

Trust

,

Series

2023-1,

Class

A

2,100,000

4.870

05/15/28

2,088,822

BA

Credit

Card

Trust

,

Series

2022-A1,

Class

A1

3,075,000

3.530

11/15/27

3,016,609

BA

Credit

Card

Trust

,

Series

2022-A2,

Class

A2

2,100,000

5.000

04/15/28

2,087,443

Barclays

Dryrock

Issuance

Trust

,

Series

2021-1,

Class

A

2,400,000

0.630

07/15/27

2,365,534

Barclays

Dryrock

Issuance

Trust

,

Series

2022-1,

Class

A

4,500,000

3.070

02/15/28

4,407,627

BBCMS

Mortgage

Trust

,

Series

2018-C2,

Class

ASB

481,507

4.236

12/15/51

465,239

BSPDF

Issuer

Ltd.

,

Series

2021-FL1,

Class

A

(

1M

U.S.

T-Bill

MMY

+

1.314%

)

830,627

6.631

10/15/36

(a)(b)

819,447

BX

,

Series

2021-MFM1,

Class

A

(

1M

U.S.

T-Bill

MMY

+

0.814%

)

76,626

6.131

01/15/34

(a)(b)

76,171

BX

Trust

,

Series

2021-ARIA,

Class

A

(

1M

U.S.

T-Bill

MMY

+

1.014%

)

1,300,000

6.331

10/15/36

(a)(b)

1,289,908

BXHPP

Trust

,

Series

2021-FILM,

Class

A

(

1M

U.S.

T-Bill

MMY

+

0.764%

)

1,850,000

6.081

08/15/36

(a)(b)

1,777,075

CFCRE

Commercial

Mortgage

Trust

,

Series

2016-C3,

Class

A3

245,000

3.865

01/10/48

237,664

Chase

Auto

Owner

Trust

,

Series

2024-2A,

Class

A2

2,025,000

5.660

05/26/27

(a)

2,026,211

Citigroup

Commercial

Mortgage

Trust

,

Series

2015-GC29,

Class

AAB

24,732

2.984

04/10/48

24,630

Citigroup

Commercial

Mortgage

Trust

,

Series

2015-GC33,

Class

A4

3,000,000

3.778

09/10/58

2,900,751

Citigroup

Commercial

Mortgage

Trust

,

Series

2016-GC37,

Class

A3

2,738,532

3.050

04/10/49

2,646,408

COMM

Mortgage

Trust

,

Series

2014-CR19,

Class

A5

110,655

3.796

08/10/47

110,395

COMM

Mortgage

Trust

,

Series

2015-CR24,

Class

ASB

80,508

3.445

08/10/48

79,756

COMM

Mortgage

Trust

,

Series

2015-CR25,

Class

A3

1,877,302

3.505

08/10/48

1,845,417

COMM

Mortgage

Trust

,

Series

2015-CR26,

Class

ASB

221,095

3.373

10/10/48

218,467

COMM

Mortgage

Trust

,

Series

2016-DC2,

Class

A4

467,107

3.497

02/10/49

456,115

CSAIL

Commercial

Mortgage

Trust

,

Series

2015-C3,

Class

A4

1,300,000

3.718

08/15/48

1,267,648

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Asset-Backed

Securities

–

(continued)

DBJPM

Mortgage

Trust

,

Series

2016-C3,

Class

ASB

$

152,191

2.756

%

08/10/49

$

147,498

Discover

Card

Execution

Note

Trust

,

Series

2017-A5,

Class

A5

(

1M

U.S.

T-Bill

MMY

+

0.714%

)

2,000,000

6.031

12/15/26

(b)

2,000,335

Discover

Card

Execution

Note

Trust

,

Series

2022-A2,

Class

A

4,500,000

3.320

05/15/27

4,408,479

Extended

Stay

America

Trust

,

Series

2021-ESH,

Class

A

(

1M

U.S.

T-Bill

MMY

+

1.194%

)

1,323,848

6.511

07/15/38

(a)(b)

1,322,606

Ford

Credit

Auto

Owner

Trust

,

Series

2022-A,

Class

A3

1,496,646

1.290

06/15/26

1,466,386

GM

Financial

Automobile

Leasing

Trust

,

Series

2023-2,

Class

A3

5,235,000

5.050

07/20/26

5,213,156

GM

Financial

Automobile

Leasing

Trust

,

Series

2023-3,

Class

A3

3,500,000

5.380

11/20/26

3,496,692

GM

Financial

Consumer

Automobile

Receivables

Trust

,

Series

2022-1,

Class

A3

2,651,211

1.260

11/16/26

2,587,118

GMF

Floorplan

Owner

Revolving

Trust

,

Series

2023-1,

Class

A1

1,500,000

5.340

06/15/28

(a)

1,495,600

Honda

Auto

Receivables

2021-3

Owner

Trust

,

Series

2021-3,

Class

A3

332,927

0.410

11/18/25

327,322

Honda

Auto

Receivables

2021-4

Owner

Trust

,

Series

2021-4,

Class

A3

1,116,023

0.880

01/21/26

1,091,920

Honda

Auto

Receivables

2023-2

Owner

Trust

,

Series

2023-2,

Class

A2

1,323,962

5.410

04/15/26

1,322,630

Honda

Auto

Receivables

2023-4

Owner

Trust

,

Series

2023-4,

Class

A2

2,900,000

5.870

06/22/26

2,904,356

Hyundai

Auto

Lease

Securitization

Trust

,

Series

2023-B,

Class

A2A

1,037,979

5.470

09/15/25

(a)

1,038,052

Hyundai

Auto

Lease

Securitization

Trust

,

Series

2024-B,

Class

A3

2,400,000

5.410

05/17/27

(a)

2,403,461

Hyundai

Auto

Receivables

Trust

,

Series

2020-C,

Class

A4

2,812,115

0.490

11/16/26

2,779,162

Hyundai

Auto

Receivables

Trust

,

Series

2021-C,

Class

A3

829,486

0.740

05/15/26

814,127

Hyundai

Auto

Receivables

Trust

,

Series

2022-C,

Class

A3

3,625,000

5.390

06/15/27

3,621,350

Hyundai

Auto

Receivables

Trust

,

Series

2023-C,

Class

A2A

2,993,942

5.800

01/15/27

2,998,446

Mercedes-Benz

Auto

Receivables

Trust

,

Series

2022-1,

Class

A2

96,430

5.260

10/15/25

96,412

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

Series

2016-C29,

Class

A3

4,367,304

3.058

05/15/49

4,198,229

Morgan

Stanley

Capital

I

Trust

,

Series

2016-BNK2,

Class

ASB

291,173

2.860

11/15/49

281,633

Nelnet

Student

Loan

Trust

,

Series

2016-1A,

Class

A

(

SOFR

+

0.914%

)

247,929

6.238

09/25/65

(a)(b)

247,188

Nissan

Auto

Lease

Trust

,

Series

2023-A,

Class

A3

6,000,000

4.910

01/15/26

5,987,357

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Asset-Backed

Securities

–

(continued)

Nissan

Auto

Lease

Trust

,

Series

2023-B,

Class

A2A

$

1,256,906

5.740

%

08/15/25

$

1,257,355

Northstar

Education

Finance,

Inc.

,

Series

2012-1,

Class

A

(

SOFR

+

0.814%

)

4,571

6.138

12/26/31

(a)(b)

4,562

ONE

PARK

Mortgage

Trust

,

Series

2021-PARK,

Class

A

(

1M

U.S.

T-Bill

MMY

+

0.814%

)

908,000

6.131

03/15/36

(a)(b)

884,022

Rhode

Island

Student

Loan

Authority

,

Series

2012-1,

Class

A1

(

SOFR

+

1.014%

)

384,232

6.336

07/01/31

(b)

384,143

Rhode

Island

Student

Loan

Authority

,

Series

2014-1,

Class

A1

(

SOFR

+

0.814%

)

26,544

6.143

10/02/28

(b)

26,301

SLC

Student

Loan

Trust

,

Series

2007-1,

Class

A4

(

SOFR

+

0.322%

)

349,138

5.669

05/15/29

(b)

348,376

SLC

Student

Loan

Trust

,

Series

2010-1,

Class

A

(

SOFR

+

1.137%

)

57,827

6.485

11/25/42

(b)

57,886

SLM

Student

Loan

Trust

,

Series

2004-10,

Class

A7B

(

SOFR

+

0.862%

)

21,265

6.209

10/25/29

(a)(b)

21,264

STWD

Trust

,

Series

2021-FLWR,

Class

A

(

1M

U.S.

T-Bill

MMY

+

0.691%

)

1,350,000

6.008

07/15/36

(a)(b)

1,336,494

Toyota

Auto

Receivables

Owner

Trust

,

Series

2021-D,

Class

A3

1,065,387

0.710

04/15/26

1,042,328

Toyota

Auto

Receivables

Owner

Trust

,

Series

2022-D,

Class

A3

1,825,000

5.300

09/15/27

1,823,681

Trinitas

CLO

VI

Ltd.

,

Series

2017-6A,

Class

ARRR

(

3M

U.S.

T-Bill

MMY

+

1.330%

)

5,900,000

–

01/25/34

(a)(b)(c)(d)

5,900,000

UBS

Commercial

Mortgage

Trust

,

Series

2017-C2,

Class

ASB

623,481

3.264

08/15/50

603,873

Wells

Fargo

Commercial

Mortgage

Trust

,

Series

2015-C31,

Class

ASB

38,036

3.487

11/15/48

37,290

Wells

Fargo

Commercial

Mortgage

Trust

,

Series

2016-C32,

Class

A3

1,422,360

3.294

01/15/59

1,373,569

World

Omni

Automobile

Lease

Securitization

Trust

,

Series

2023-

A,

Class

A2A

762,946

5.470

11/17/25

762,812

102,836,979

1988

CLO

3

Ltd.

,

Series

2023-3A,

Class

A1

(

3M

U.S.

T-Bill

MMY

+

2.000%

)

6,500,000

7.329

10/15/38

(a)(b)

6,587,626

Barings

CLO

Ltd.

,

Series

2018-3A,

Class

A1

(

3M

U.S.

T-Bill

MMY

+

1.212%

)

40,933

6.536

07/20/29

(a)(b)

40,960

Barings

CLO

Ltd.

,

Series

2022-4A,

Class

A

(

3M

U.S.

T-Bill

MMY

+

1.990%

)

1,150,000

7.315

10/20/34

(a)(b)

1,154,874

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Asset-Backed

Securities

–

(continued)

Battalion

CLO

XXIV

Ltd.

,

Series

2022-24A,

Class

A

(

3M

U.S.

T-Bill

MMY

+

2.650%

)

$

1,800,000

7.979

%

01/14/34

(a)(b)

$

1,806,620

BlueMountain

CLO

Ltd.

,

Series

2013-2A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.442%

)

448,800

6.766

10/22/30

(a)(b)

449,903

Bryant

Park

Funding

Ltd.

,

Series

2023-21A,

Class

A1

(

3M

U.S.

T-Bill

MMY

+

2.050%

)

4,200,000

7.377

10/18/36

(a)(b)

4,258,720

Carlyle

US

CLO

Ltd.

,

Series

2017-2A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.312%

)

1,342,460

6.636

07/20/31

(a)(b)

1,343,118

CIFC

Falcon

2020

Ltd.

,

Series

2019-FAL,

Class

A

(

3M

U.S.

T-Bill

MMY

+

1.262%

)

3,800,000

6.586

01/20/33

(a)(b)

3,806,452

CIFC

Funding

Ltd.

,

Series

2017-2A,

Class

AR

(

3M

U.S.

T-Bill

MMY

+

1.212%

)

363,440

6.536

04/20/30

(a)(b)

364,122

Dryden

XXVI

Senior

Loan

Fund

,

Series

2013-26A,

Class

AR

(

3M

U.S.

T-Bill

MMY

+

1.162%

)

165,875

6.490

04/15/29

(a)(b)

166,090

Flatiron

CLO

19

Ltd.

,

Series

2019-1A,

Class

AR

(

3M

U.S.

T-Bill

MMY

+

1.342%

)

1,000,000

6.668

11/16/34

(a)(b)

1,002,811

HalseyPoint

CLO

Ltd.

,

Series

2020-3A,

Class

A1A

(

3M

U.S.

T-Bill

MMY

+

1.712%

)

500,000

7.041

11/30/32

(a)(b)

500,383

Hayfin

US

XII

Ltd.

,

Series

2018-8A,

Class

A

(

3M

U.S.

T-Bill

MMY

+

1.382%

)

1,966,498

6.706

04/20/31

(a)(b)

1,969,517

Jamestown

CLO

XV

Ltd.

,

Series

2020-15A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.370%

)

4,400,000

–

07/15/35

(a)(b)(c)(d)

4,402,367

LCM

XV

LP

,

Series

2021-15A,

Class

AR2

(

3M

U.S.

T-Bill

MMY

+

1.262%

)

775,104

6.586

07/20/30

(a)(b)

775,879

Marathon

CLO

XIII

Ltd.

,

Series

2019-1A,

Class

AAR2

(

3M

U.S.

T-Bill

MMY

+

1.200%

)

2,200,000

6.534

04/15/32

(a)(b)

2,201,100

Mountain

View

CLO

XVI

Ltd.

,

Series

2022-1A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.460%

)

2,325,000

6.789

04/15/34

(a)(b)

2,327,000

OZLM

Ltd.

,

Series

2015-11A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.512%

)

64,592

6.841

10/30/30

(a)(b)

64,704

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Asset-Backed

Securities

–

(continued)

Regata

Funding

Ltd.

,

Series

2019-1A,

Class

AR

(

3M

U.S.

T-Bill

MMY

+

1.362%

)

$

2,000,000

6.690

%

10/15/32

(a)(b)

$

2,005,196

SOUND

POINT

CLO

XXII

Ltd.

,

Series

2019-1A,

Class

AR

(

3M

U.S.

T-Bill

MMY

+

1.342%

)

600,000

6.666

01/20/32

(a)(b)

601,208

TCW

CLO

AMR

Ltd.

,

Series

2019-1A,

Class

ASNR

(

3M

U.S.

T-Bill

MMY

+

1.482%

)

1,100,000

6.808

08/16/34

(a)(b)

1,101,009

TCW

CLO

Ltd.

,

Series

2019-2A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.280%

)

3,500,000

6.605

10/20/32

(a)(b)

3,504,001

TCW

CLO

Ltd.

,

Series

2022-1A,

Class

A1

(

3M

U.S.

T-Bill

MMY

+

1.340%

)

3,500,000

6.665

04/22/33

(a)(b)

3,509,408

Trimaran

Cavu

Ltd.

,

Series

2021-1A,

Class

A

(

3M

U.S.

T-Bill

MMY

+

1.472%

)

1,000,000

6.798

04/23/32

(a)(b)

1,002,390

Trysail

CLO

Ltd.

,

Series

2021-1A,

Class

A1

(

3M

U.S.

T-Bill

MMY

+

1.300%

)

2,700,000

6.625

07/20/32

(a)(b)

2,701,102

Zais

CLO

Ltd.

,

Series

2020-15A,

Class

A1R

(

3M

U.S.

T-Bill

MMY

+

1.612%

)

1,000,000

6.936

07/28/32

(a)(b)

1,001,001

48,647,561

American

Express

Credit

Account

Master

Trust

,

Series

2022-2,

Class

A

6,000,000

3.390

05/15/27

5,882,657

Bank

of

America

Auto

Trust

,

Series

2023-2A,

Class

A2

1,325,000

5.850

08/17/26

(a)

1,326,324

Barclays

Dryrock

Issuance

Trust

,

Series

2023-2,

Class

A

(

SOFR

+

0.900%

)

2,050,000

6.224

08/15/28

(b)

2,063,328

Capital

One

Multi-Asset

Execution

Trust

,

Series

2022-A2,

Class

A

8,975,000

3.490

05/15/27

8,806,840

Capital

One

Multi-Asset

Execution

Trust

,

Series

2022-A3,

Class

A

3,000,000

4.950

10/15/27

2,983,778

Citibank

Credit

Card

Issuance

Trust

,

Series

2023-A1,

Class

A1

1,300,000

5.230

12/08/27

1,297,263

Discover

Card

Execution

Note

Trust

,

Series

2023-A1,

Class

A

2,925,000

4.310

03/15/28

2,875,890

Ford

Credit

Auto

Owner

Trust

,

Series

2023-C,

Class

A2A

2,425,000

5.680

09/15/26

2,426,925

Hyundai

Auto

Lease

Securitization

Trust

,

Series

2022-A,

Class

A4

826,044

1.320

12/15/25

(a)

824,223

Toyota

Auto

Receivables

Owner

Trust

,

Series

2023-B,

Class

A3

2,595,000

4.710

02/15/28

2,568,447

31,055,675

TOTAL

ASSET-BACKED

SECURITIES

(Cost

$182,261,331)

182,540,215

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

19.7%

a

FHLMC

REMIC

(

RFUCCT1Y

+

1.796%

)

$

2,785,019

6.113

%

10/01/43

(b)

$

2,841,032

(

RFUCCT1Y

+

1.780%

)

548,328

5.990

10/01/44

(b)

558,468

(

RFUCCT1Y

+

1.619%

)

5,684,965

6.032

01/01/46

(b)

5,784,061

FHLMC

REMIC

,

Series

2003-2682,

Class

FB

(

SOFR

+

1.014%

)

133,746

6.338

10/15/33

(b)

133,967

FHLMC

REMIC

,

Series

2003-2711,

Class

FA

(

SOFR

+

1.114%

)

130,740

6.438

11/15/33

(b)

131,395

FHLMC

REMIC

,

Series

2005-3033,

Class

FG

(

SOFR

+

0.464%

)

400,173

5.788

09/15/35

(b)

393,561

FHLMC

REMIC

,

Series

2007-3298,

Class

FC

(

SOFR

+

0.534%

)

80,251

5.858

04/15/37

(b)

78,466

FHLMC

REMIC

,

Series

2007-3314,

Class

FC

(

SOFR

+

0.514%

)

19,192

5.838

12/15/36

(b)

18,867

FHLMC

REMIC

,

Series

2007-3316,

Class

FB

(

SOFR

+

0.414%

)

469,592

5.738

08/15/35

(b)

461,641

FHLMC

REMIC

,

Series

2007-3371,

Class

FA

(

SOFR

+

0.714%

)

97,501

6.038

09/15/37

(b)

96,363

FHLMC

REMIC

,

Series

2009-3593,

Class

CF

(

SOFR

+

0.714%

)

1,037,099

6.038

02/15/36

(b)

1,031,020

FHLMC

REMIC

,

Series

2011-3895,

Class

FM

(

SOFR

+

0.464%

)

13,846

5.788

12/15/40

(b)

13,836

FHLMC

REMIC

,

Series

2012-4040,

Class

FW

(

SOFR

+

0.484%

)

289,173

5.808

05/15/32

(b)

286,506

FHLMC

REMIC

,

Series

2012-4057,

Class

FE

(

SOFR

+

0.564%

)

661,716

5.888

06/15/42

(b)

649,592

FHLMC

REMIC

,

Series

2012-4068,

Class

UF

(

SOFR

+

0.614%

)

165,182

5.938

06/15/42

(b)

162,976

FHLMC

REMIC

,

Series

2012-4098,

Class

MF

(

SOFR

+

0.414%

)

127,714

5.738

11/15/41

(b)

126,695

FHLMC

REMIC

,

Series

2012-4107,

Class

MF

(

SOFR

+

0.514%

)

1,396,798

5.838

09/15/42

(b)

1,363,772

FHLMC

REMIC

,

Series

2012-4126,

Class

GF

(

SOFR

+

0.514%

)

1,937,838

5.838

11/15/42

(b)

1,889,092

FHLMC

REMIC

,

Series

2013-4203,

Class

QF

(

SOFR

+

0.364%

)

904,682

5.688

05/15/43

(b)

885,928

FHLMC

REMIC

,

Series

2013-4215,

Class

NF

(

SOFR

+

0.464%

)

651,067

5.788

06/15/43

(b)

630,799

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

FHLMC

REMIC

,

Series

2013-4240,

Class

FA

(

SOFR

+

0.614%

)

$

2,225,574

5.938

%

08/15/43

(b)

$

2,193,618

FHLMC

REMIC

,

Series

2013-4248,

Class

FL

(

SOFR

+

0.564%

)

65,808

5.888

05/15/41

(b)

64,852

FHLMC

REMIC

,

Series

2013-4263,

Class

FB

(

SOFR

+

0.514%

)

47,134

5.838

11/15/43

(b)

46,504

FHLMC

REMIC

,

Series

2013-4272,

Class

FD

(

SOFR

+

0.464%

)

50,301

5.788

11/15/43

(b)

49,577

FHLMC

REMIC

,

Series

2017-4678,

Class

AF

(

SOFR

+

0.514%

)

1,487,421

5.837

12/15/42

(b)

1,466,272

FHLMC

REMIC

,

Series

2017-4719,

Class

AF

(

SOFR

+

0.464%

)

2,721,003

5.788

09/15/47

(b)

2,633,299

FHLMC

REMIC

,

Series

2018-4787,

Class

ZS

667,499

5.000

07/01/48

654,272

FHLMC

REMIC

,

Series

2018-4818,

Class

FC

(

SOFR

+

0.414%

)

185,366

5.738

04/15/48

(b)

177,177

FHLMC

REMIC

,

Series

2018-4852,

Class

BF

(

SOFR

+

0.514%

)

1,199,585

5.838

12/15/48

(b)

1,158,249

FHLMC

REMIC

,

Series

2019-4897,

Class

F

(

SOFR

+

0.514%

)

988,537

5.838

07/15/49

(b)

964,632

FHLMC

REMIC

,

Series

2019-4903,

Class

F

(

SOFR

+

0.564%

)

153,896

5.888

09/15/48

(b)

148,128

FHLMC

REMIC

,

Series

2019-4906,

Class

NF

(

SOFR

+

0.514%

)

1,204,600

5.837

03/15/38

(b)

1,173,662

FHLMC

REMIC

,

Series

2019-4942,

Class

FA

(

SOFR

+

0.614%

)

970,539

5.938

01/25/50

(b)

949,008

FHLMC

REMIC

,

Series

2020-5002,

Class

FJ

(

SOFR

+

0.514%

)

166,118

5.838

07/25/50

(b)

162,559

FHLMC

REMIC

,

Series

2020-5031,

Class

FA

(

SOFR

+

0.300%

)

2,196,662

5.624

08/15/43

(b)

2,109,187

FHLMC

STRIPS

,

Series

2006-239,

Class

F22

(

SOFR

+

0.464%

)

142,630

5.788

08/15/36

(b)

140,164

FHLMC

STRIPS

,

Series

2006-239,

Class

F30

(

SOFR

+

0.414%

)

356,574

5.738

08/15/36

(b)

350,617

FNMA

REMIC

,

Series

2002-53,

Class

FY

(

SOFR

+

0.614%

)

150,226

5.938

08/25/32

(b)

149,448

FNMA

REMIC

,

Series

2004-54,

Class

FL

(

SOFR

+

0.514%

)

69,486

5.838

07/25/34

(b)

69,207

FNMA

REMIC

,

Series

2004-54,

Class

FN

(

SOFR

+

0.564%

)

208,919

5.888

07/25/34

(b)

207,915

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

FNMA

REMIC

,

Series

2005-103,

Class

FC

(

SOFR

+

0.614%

)

$

7,026,543

5.938

%

07/25/35

(b)

$

6,956,645

FNMA

REMIC

,

Series

2005-120,

Class

FE

(

SOFR

+

0.634%

)

301,564

5.958

01/25/36

(b)

298,175

FNMA

REMIC

,

Series

2005-87,

Class

FE

(

SOFR

+

0.564%

)

337,608

5.888

10/25/35

(b)

333,400

FNMA

REMIC

,

Series

2006-110,

Class

AF

(

SOFR

+

0.444%

)

1,905,263

5.768

11/25/36

(b)

1,872,405

FNMA

REMIC

,

Series

2006-16,

Class

FC

(

SOFR

+

0.414%

)

73,204

5.738

03/25/36

(b)

72,270

FNMA

REMIC

,

Series

2006-36,

Class

FB

(

SOFR

+

0.414%

)

37,796

5.738

05/25/36

(b)

37,068

FNMA

REMIC

,

Series

2006-42,

Class

PF

(

SOFR

+

0.524%

)

69,266

5.848

06/25/36

(b)

68,450

FNMA

REMIC

,

Series

2006-44,

Class

FP

(

SOFR

+

0.514%

)

756,692

5.838

06/25/36

(b)

746,782

FNMA

REMIC

,

Series

2006-61,

Class

FD

(

SOFR

+

0.474%

)

143,803

5.798

07/25/36

(b)

141,365

FNMA

REMIC

,

Series

2006-79,

Class

DF

(

SOFR

+

0.464%

)

321,040

5.788

08/25/36

(b)

316,933

FNMA

REMIC

,

Series

2006-88,

Class

AF

(

SOFR

+

0.574%

)

298,545

5.898

09/25/36

(b)

294,145

FNMA

REMIC

,

Series

2007-35,

Class

PF

(

SOFR

+

0.364%

)

51,736

5.688

04/25/37

(b)

50,620

FNMA

REMIC

,

Series

2007-67,

Class

FB

(

SOFR

+

0.434%

)

123,325

5.758

07/25/37

(b)

120,512

FNMA

REMIC

,

Series

2008-1,

Class

CF

(

SOFR

+

0.814%

)

40,831

6.138

02/25/38

(b)

40,395

FNMA

REMIC

,

Series

2009-110,

Class

FG

(

SOFR

+

0.864%

)

154,712

6.188

01/25/40

(b)

154,370

FNMA

REMIC

,

Series

2010-113,

Class

FA

(

SOFR

+

0.514%

)

113,913

5.838

10/25/40

(b)

112,535

FNMA

REMIC

,

Series

2010-116,

Class

FE

(

SOFR

+

0.514%

)

143,262

5.838

10/25/40

(b)

141,357

FNMA

REMIC

,

Series

2010-141,

Class

FB

(

SOFR

+

0.584%

)

87,630

5.908

12/25/40

(b)

86,048

FNMA

REMIC

,

Series

2010-15,

Class

FJ

(

SOFR

+

1.044%

)

275,807

6.368

06/25/36

(b)

276,818

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

FNMA

REMIC

,

Series

2010-39,

Class

FE

(

SOFR

+

0.884%

)

$

444,628

6.208

%

06/25/37

(b)

$

443,944

FNMA

REMIC

,

Series

2010-39,

Class

FG

(

SOFR

+

1.034%

)

187,293

6.358

03/25/36

(b)

187,855

FNMA

REMIC

,

Series

2010-46,

Class

WF

(

SOFR

+

0.864%

)

1,413,770

6.188

05/25/40

(b)

1,396,493

FNMA

REMIC

,

Series

2010-49,

Class

FB

(

SOFR

+

0.864%

)

131,321

6.188

05/25/40

(b)

130,410

FNMA

REMIC

,

Series

2010-59,

Class

FN

(

SOFR

+

0.844%

)

1,463,165

6.168

06/25/40

(b)

1,448,198

FNMA

REMIC

,

Series

2011-53,

Class

FT

(

SOFR

+

0.694%

)

125,561

6.018

06/25/41

(b)

123,901

FNMA

REMIC

,

Series

2011-87,

Class

FJ

(

SOFR

+

0.664%

)

122,985

5.988

09/25/41

(b)

120,573

FNMA

REMIC

,

Series

2012-101,

Class

FC

(

SOFR

+

0.614%

)

106,779

5.938

09/25/42

(b)

103,985

FNMA

REMIC

,

Series

2012-14,

Class

BF

(

SOFR

+

0.714%

)

627,697

6.038

03/25/42

(b)

622,860

FNMA

REMIC

,

Series

2012-37,

Class

BF

(

SOFR

+

0.614%

)

133,642

5.938

12/25/35

(b)

132,140

FNMA

REMIC

,

Series

2013-10,

Class

KF

(

SOFR

+

0.414%

)

84,526

5.738

02/25/43

(b)

82,733

FNMA

REMIC

,

Series

2013-130,

Class

FB

(

SOFR

+

0.564%

)

82,546

5.888

01/25/44

(b)

81,296

FNMA

REMIC

,

Series

2013-19,

Class

DF

(

SOFR

+

0.414%

)

449,976

5.738

09/25/41

(b)

446,468

FNMA

REMIC

,

Series

2013-2,

Class

QF

(

SOFR

+

0.614%

)

55,324

5.938

02/25/43

(b)

54,416

FNMA

REMIC

,

Series

2014-17,

Class

FE

(

SOFR

+

0.664%

)

708,335

5.988

04/25/44

(b)

692,272

FNMA

REMIC

,

Series

2014-28,

Class

FD

(

SOFR

+

0.564%

)

1,464,451

5.888

05/25/44

(b)

1,438,786

FNMA

REMIC

,

Series

2014-47,

Class

AF

(

SOFR

+

0.464%

)

280,373

5.787

08/25/44

(b)

277,107

FNMA

REMIC

,

Series

2015-27,

Class

KF

(

SOFR

+

0.414%

)

70,082

5.738

05/25/45

(b)

69,068

FNMA

REMIC

,

Series

2015-87,

Class

BF

(

SOFR

+

0.414%

)

320,122

5.738

12/25/45

(b)

312,911

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

FNMA

REMIC

,

Series

2016-49,

Class

EF

(

SOFR

+

0.514%

)

$

730,590

5.838

%

08/25/46

(b)

$

719,293

FNMA

REMIC

,

Series

2016-9335,

Class

AL

(

RFUCCT1Y

+

1.797%

)

7,726,803

6.135

12/01/40

(b)

7,927,125

FNMA

REMIC

,

Series

2017-16,

Class

FA

(

SOFR

+

0.564%

)

640,819

5.888

03/25/47

(b)

619,272

FNMA

REMIC

,

Series

2017-91,

Class

GF

(

SOFR

+

0.464%

)

1,509,277

5.788

11/25/47

(b)

1,451,014

FNMA

REMIC

,

Series

2018-15,

Class

JF

(

SOFR

+

0.414%

)

848,095

5.738

03/25/48

(b)

812,580

FNMA

REMIC

,

Series

2018-3385,

Class

MA

772,685

4.500

06/01/48

734,526

FNMA

REMIC

,

Series

2018-4,

Class

FM

(

SOFR

+

0.414%

)

2,027,196

5.738

02/25/48

(b)

1,941,746

FNMA

REMIC

,

Series

2019-41,

Class

FM

(

SOFR

+

0.564%

)

998,183

5.888

08/25/49

(b)

961,277

FNMA

REMIC

,

Series

2019-6,

Class

KF

(

SOFR

+

0.564%

)

1,650,894

5.888

03/25/49

(b)

1,604,684

FNMA

REMIC

,

Series

2020-6347,

Class

BM

(

RFUCCT1Y

+

1.735%

)

8,516,517

6.125

02/01/41

(b)

8,714,976

FNMA

REMIC

,

Series

2023-7262,

Class

BM

(

RFUCCT1Y

+

1.796%

)

9,755,117

6.388

02/01/45

(b)

9,951,233

FNMA

REMIC

,

Series

2023-7266,

Class

BM

(

RFUCCT1Y

+

1.801%

)

15,230,843

6.233

05/01/44

(b)

15,516,654

GNMA

,

Series

2004-59,

Class

FP

(

1M

U.S.

T-Bill

MMY

+

0.414%

)

328,419

5.734

08/16/34

(b)

324,875

GNMA

,

Series

2005-4,

Class

FA

(

1M

U.S.

T-Bill

MMY

+

0.484%

)

273,970

5.804

01/16/35

(b)

271,119

GNMA

,

Series

2007-26,

Class

FL

(

1M

U.S.

T-Bill

MMY

+

0.314%

)

2,063,996

5.635

05/20/37

(b)

2,019,756

GNMA

,

Series

2007-59,

Class

FA

(

1M

U.S.

T-Bill

MMY

+

0.614%

)

100,903

5.935

10/20/37

(b)

99,999

GNMA

,

Series

2013-99,

Class

PF

(

1M

U.S.

T-Bill

MMY

+

0.414%

)

1,431,611

5.735

07/20/43

(b)

1,398,410

GNMA

,

Series

2018-164,

Class

AF

(

1M

U.S.

T-Bill

MMY

+

0.514%

)

2,269,874

5.835

12/20/48

(b)

2,204,900

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

GNMA

,

Series

2019-110,

Class

F

(

1M

U.S.

T-Bill

MMY

+

0.564%

)

$

1,521,157

5.885

%

09/20/49

(b)

$

1,473,514

GNMA

,

Series

2019-56,

Class

FB

(

1M

U.S.

T-Bill

MMY

+

0.564%

)

1,754,491

5.885

05/20/49

(b)

1,721,043

GNMA

,

Series

2019-58,

Class

FA

(

1M

U.S.

T-Bill

MMY

+

0.514%

)

741,710

5.835

05/20/49

(b)

719,830

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

Series

2016-JP2,

Class

ASB

236,892

2.713

08/15/49

231,111

JPMBB

Commercial

Mortgage

Securities

Trust

,

Series

2015-C31,

Class

ASB

178,946

3.540

08/15/48

175,298

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

Series

2015-C23,

Class

A4

550,000

3.719

07/15/50

537,878

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

Series

2015-C24,

Class

A3

2,053,239

3.479

05/15/48

2,011,715

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost

$118,887,187)

116,835,921

a

Foreign

Corporate

Debt

–

19.2%

Banks

–

16.1%

Banco

Santander

SA

(

Spain

)

1,200,000

2.746

05/28/25

1,165,344

Bank

of

Montreal

(

Canada

)

1,760,000

5.920

09/25/25

1,770,003

(

SOFRINDX

+

1.160%

)

3,133,000

6.512

12/11/26

(b)

3,169,310

Bank

of

Nova

Scotia

(The)

(

Canada

)

2,866,000

5.450

06/12/25

2,863,657

Banque

Federative

du

Credit

Mutuel

SA

(

France

)

2,089,000

4.524

07/13/25

(a)

2,067,089

(

SOFR

+

1.130%

)

3,096,000

6.488

01/23/27

(a)(b)

3,129,537

BPCE

SA

(

France

)

(

SOFR

+

0.960%

)

2,244,000

6.314

09/25/25

(a)(b)

2,257,677

2,062,000

1.000

01/20/26

(a)

1,921,563

3,133,000

5.100

01/26/26

(a)

3,100,357

Canadian

Imperial

Bank

of

Commerce

(

Canada

)

(

SOFR

+

1.220%

)

1,851,000

6.576

10/02/26

(b)

1,873,366

Cooperatieve

Rabobank

UA

(

Netherlands

)

(

SOFRINDX

+

0.900%

)

1,156,000

6.254

10/05/26

(b)

1,164,698

Credit

Agricole

SA

(

France

)

(

SOFR

+

0.870%

)

2,500,000

6.222

03/11/27

(a)(b)

2,512,605

Deutsche

Bank

AG

(

Germany

)

(

SOFR

+

2.581%

)

3,015,000

3.961

11/26/25

(b)

2,985,020

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

DNB

Bank

ASA

(

Norway

)

(

US

1

Year

CMT

T-Note

+

0.330%

)

$

1,353,000

0.856

%

09/30/25

(a)(b)

$

1,330,526

HSBC

Holdings

PLC

(

United

Kingdom

)

(

3M

U.S.

T-Bill

MMY

+

1.402%

)

5,336,000

2.633

11/07/25

(b)

5,261,977

ING

Groep

NV

(

Netherlands

)

2,143,000

4.625

01/06/26

(a)

2,116,119

(

SOFRINDX

+

1.640%

)

2,716,000

6.996

03/28/26

(b)

2,738,911

Intesa

Sanpaolo

SpA

(

Italy

)

3,147,000

7.000

11/21/25

(a)

3,193,790

Intesa

Sanpaolo

SpA

,

Series

XR

(

Italy

)

2,827,000

3.250

09/23/24

(a)

2,804,318

Lloyds

Banking

Group

PLC

(

United

Kingdom

)

(

US

1

Year

CMT

T-Note

+

3.500%

)

1,913,000

3.870

07/09/25

(b)

1,908,862

Macquarie

Bank

Ltd.

(

Australia

)

(

SOFR

+

1.240%

)

1,851,000

6.593

06/15/26

(a)(b)

1,868,164

Mitsubishi

UFJ

Financial

Group,

Inc.

(

Japan

)

(

US

1

Year

CMT

T-Note

+

0.450%

)

1,961,000

0.962

10/11/25

(b)

1,926,549

(

SOFR

+

0.940%

)

2,546,000

6.303

02/20/26

(b)

2,552,260

NatWest

Markets

PLC

(

United

Kingdom

)

(

SOFR

+

0.900%

)

4,600,000

6.263

05/17/27

(a)(b)

4,607,325

Nordea

Bank

Abp

(

Finland

)

2,236,000

4.750

09/22/25

(a)

2,217,807

Skandinaviska

Enskilda

Banken

AB

(

Sweden

)

1,708,000

0.850

09/02/25

(a)

1,614,257

(

SOFR

+

0.890%

)

2,627,000

6.242

03/05/27

(a)(b)

2,639,637

Societe

Generale

SA

(

France

)

(

US

1

Year

CMT

T-Note

+

1.050%

)

3,455,000

2.226

01/21/26

(a)(b)

3,371,219

Standard

Chartered

PLC

(

United

Kingdom

)

(

3M

USD

LIBOR

+

1.209%

)

1,848,000

2.819

01/30/26

(a)(b)

1,810,627

Sumitomo

Mitsui

Financial

Group,

Inc.

(

Japan

)

2,405,000

1.474

07/08/25

2,302,444

Svenska

Handelsbanken

AB

(

Sweden

)

2,268,000

3.650

06/10/25

(a)

2,226,962

(

SOFR

+

1.250%

)

2,647,000

6.603

06/15/26

(a)(b)

2,686,264

Swedbank

AB

(

Sweden

)

(

SOFRINDX

+

1.380%

)

3,688,000

6.733

06/15/26

(a)(b)

3,742,768

Toronto-Dominion

Bank

(The)

,

MTN

(

Canada

)

(

SOFR

+

1.080%

)

2,506,000

6.437

07/17/26

(b)

2,534,719

UBS

AG

(

Switzerland

)

3,633,000

7.950

01/09/25

3,677,871

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

(

SOFRINDX

+

1.260%

)

$

3,000,000

6.624

%

02/21/25

(b)

$

3,011,710

UBS

AG/London

(

Switzerland

)

(

SOFR

+

0.930%

)

1,462,000

6.282

09/11/25

(b)

1,471,266

UBS

Group

AG

(

Switzerland

)

(

US

1

Year

CMT

T-Note

+

1.600%

)

602,000

4.490

08/05/25

(a)(b)

600,363

1,300,000

4.125

09/24/25

(a)

1,273,038

95,469,979

Consumer

Cyclical

–

1.2%

Mercedes-Benz

Finance

North

America

LLC

(

Germany

)

(

SOFR

+

0.670%

)

1,519,000

6.024

01/09/26

(a)(b)

1,524,891

Volkswagen

Group

of

America

Finance

LLC

(

Germany

)

1,427,000

3.350

05/13/25

(a)

1,398,053

1,203,000

5.400

03/20/26

(a)

1,199,287

(

SOFR

+

0.930%

)

1,467,000

6.283

09/12/25

(a)(b)

1,474,962

(

SOFR

+

0.830%

)

1,641,000

6.183

03/20/26

(a)(b)

1,644,857

7,242,050

Consumer

Noncyclical

–

0.2%

BAT

Capital

Corp.

(

United

Kingdom

)

1,000,000

3.222

08/15/24

994,437

Distributors

–

0.4%

Daimler

Truck

Finance

North

America

LLC

(

Germany

)

2,421,000

5.600

08/08/25

(a)

2,420,861

Financial

Company

–

0.7%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

(

Ireland

)

4,584,000

1.650

10/29/24

4,507,143

Financials

Company

–

0.3%

LeasePlan

Corp.

NV

(

Netherlands

)

1,666,000

2.875

10/24/24

(a)

1,646,529

Insurance

–

0.3%

Great-West

Lifeco  U.S.

Finance

2020

LP

(

Canada

)

1,674,000

0.904

08/12/25

(a)

1,584,789

TOTAL

FOREIGN

CORPORATE

DEBT

(Cost

$113,366,504)

113,865,788

a

Corporate

Obligations

–

16.9%

Banks

–

7.9%

American

Express

Co.

(

SOFRINDX

+

1.350%

)

1,116,000

6.709

10/30/26

(b)

1,127,725

(

SOFR

+

0.750%

)

3,055,000

6.107

04/23/27

(b)

3,061,086

Bank

of

America

Corp.

,

MTN

(

3M

U.S.

T-Bill

MMY

+

1.352%

)

2,592,000

3.093

10/01/25

(b)

2,568,177

(

3M

U.S.

T-Bill

MMY

+

1.132%

)

2,403,000

2.456

10/22/25

(b)

2,371,869

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Bank

of

America

NA

(

SOFR

+

1.020%

)

$

1,695,000

6.383

%

08/18/26

(b)

$

1,713,822

Charles

Schwab

Corp.

(The)

(

SOFRINDX

+

0.520%

)

1,259,000

5.882

05/13/26

(b)

1,258,182

Citibank

NA

(

SOFR

+

0.805%

)

1,229,000

6.161

09/29/25

(b)

1,234,603

(

SOFRINDX

+

0.590%

)

1,610,000

5.949

04/30/26

(b)

1,611,667

(

SOFRINDX

+

1.060%

)

2,366,000

6.410

12/04/26

(b)

2,392,309

Citigroup,

Inc.

(

SOFR

+

0.528%

)

1,000,000

1.281

11/03/25

(b)

980,870

(

SOFR

+

1.528%

)

1,419,000

6.882

03/17/26

(b)

1,429,550

HSBC

USA,

Inc.

(

SOFR

+

0.960%

)

3,602,000

6.310

03/04/27

(b)

3,627,506

JPMorgan

Chase

&

Co.

(

3M

U.S.

T-Bill

MMY

+

0.540%

)

1,043,000

0.824

06/01/25

(b)

1,043,000

(

SOFR

+

0.605%

)

2,886,000

1.561

12/10/25

(b)

2,823,367

JPMorgan

Chase

Bank

NA

(

SOFR

+

1.000%

)

2,161,000

6.352

12/08/26

(b)

2,189,166

Morgan

Stanley

(

SOFR

+

0.745%

)

2,089,000

0.864

10/21/25

(b)

2,048,895

Morgan

Stanley

,

MTN

(

SOFR

+

1.152%

)

1,000,000

2.720

07/22/25

(b)

995,541

(

SOFR

+

0.560%

)

3,248,000

1.164

10/21/25

(b)

3,189,379

Morgan

Stanley

Bank

NA

(

SOFR

+

1.165%

)

1,529,000

6.524

10/30/26

(b)

1,550,858

PNC

Bank

NA

1,504,000

3.250

06/01/25

1,470,386

State

Street

Corp.

(

SOFR

+

0.940%

)

1,278,000

2.354

11/01/25

(b)

1,259,809

(

SOFRINDX

+

0.845%

)

1,383,000

6.205

08/03/26

(b)

1,388,553

Wells

Fargo

&

Co.

,

MTN

(

3M

U.S.

T-Bill

MMY

+

1.087%

)

1,220,000

2.406

10/30/25

(b)

1,203,188

(

3M

U.S.

T-Bill

MMY

+

1.012%

)

1,822,000

2.164

02/11/26

(b)

1,777,400

Wells

Fargo

Bank

NA

,

Series

BNKT

(

SOFR

+

1.060%

)

2,339,000

6.421

08/07/26

(b)

2,362,370

46,679,278

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Brokerage

–

0.5%

Jefferies

Financial

Group,

Inc.

,

MTN

$

3,000,000

6.050

%

03/12/25

$

3,000,407

Consumer

Cyclical

–

1.2%

American

Honda

Finance

Corp.

,

GMTN

(

SOFRINDX

+

0.790%

)

1,450,000

6.145

10/03/25

(b)

1,454,130

1,055,000

4.950

01/09/26

1,049,940

American

Honda

Finance

Corp.

,

MTN

(

SOFR

+

0.600%

)

2,307,000

5.963

08/14/25

(b)

2,312,095

General

Motors

Co.

1,164,000

6.125

10/01/25

1,169,793

General

Motors

Financial

Co.,

Inc.

1,278,000

4.300

07/13/25

1,259,317

7,245,275

Distributors

–

1.6%

Hyundai

Capital

America

1,264,000

5.800

06/26/25

(a)

1,264,405

3,275,000

6.250

11/03/25

(a)

3,297,086

(

SOFR

+

1.500%

)

4,524,000

6.855

01/08/27

(a)(b)

4,583,671

9,145,162

Electric

–

1.1%

Avangrid,

Inc.

3,066,000

3.150

12/01/24

3,024,430

National

Rural

Utilities

Cooperative

Finance

Corp.

,

GMTN

(

SOFR

+

0.800%

)

3,304,000

6.160

02/05/27

(b)

3,318,575

6,343,005

Financial

Company

–

0.5%

Air

Lease

Corp.

,

MTN

2,724,000

2.300

02/01/25

2,658,541

Food

and

Beverage

–

0.4%

Keurig

Dr

Pepper,

Inc.

(SOFRINDX

+

0.880%)

2,500,000

6.236

03/15/27

(b)

2,511,840

Insurance

–

3.2%

Equitable

Financial

Life

Global

Funding

1,757,000

5.500

12/02/25

(a)

1,751,253

6,162,000

1.000

01/09/26

(a)

5,727,716

Guardian

Life

Global

Funding

1,883,000

0.875

12/10/25

(a)

1,758,448

Pacific

Life

Global

Funding

II

(

SOFRINDX

+

1.050%

)

3,915,000

6.409

07/28/26

(a)(b)

3,950,294

Principal

Life

Global

Funding

II

(

SOFR

+

0.900%

)

2,340,000

6.266

08/28/25

(a)(b)

2,350,680

Protective

Life

Global

Funding

1,005,000

1.170

07/15/25

(a)

957,715

(

SOFR

+

0.700%

)

2,666,000

6.055

04/10/26

(a)(b)

2,670,354

19,166,460

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Metals

and

Mining

–

0.5%

Newmont

Corp.

/

Newcrest

Finance

Pty

Ltd.

$

3,100,000

5.300

%

03/15/26

(a)

$

3,093,604

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$99,326,823)

99,843,572

a

U.S.

Treasury

Notes

–

4.6%

U.S.

Treasury

Notes

592,700

4.982

(e)

07/31/25

590,177

2,391,000

5.097

(e)

08/31/25

2,387,419

7,262,500

5.057

(e)

10/31/25

7,256,540

5,317,200

4.721

(e)

01/31/26

5,256,440

United

States

Treasury

Floating

Rate

Note

(

3

Mo.

U.S.

T-Bill

MMY

+

0.140%

)

7,818,800

5.476

(e)

10/31/24

(b)

7,821,800

(

3

Mo.

U.S.

T-Bill

MMY

+

0.169%

)

1,215,400

5.495

(e)

04/30/25

(b)

1,216,446

(

3

Mo.

U.S.

T-Bill

MMY

+

0.125%

)

2,972,900

5.456

(e)

07/31/25

(b)

2,974,504

TOTAL

U.S.

TREASURY

NOTES

(Cost

$27,514,460)

27,503,326

a

Certificate

of

Deposits

–

3.4%

Bank

of

America,

National

Association

1,997,000

5.170

02/07/25

1,991,568

Bank

of

Montreal

1,211,000

5.930

09/03/24

1,212,473

Credit

Agricole

Corporate

and

Investment

Bank

(

SOFR

+

0.590%

)

2,987,000

5.920

08/28/25

(b)

2,993,943

Kookmin

Bank

(

SOFR

+

0.650%

)

3,412,000

5.980

01/29/25

(b)

3,417,136

Lloyds

Bank

Corporate

Markets

PLC

3,237,000

6.050

10/07/24

3,241,532

Lloyds

Bank

Corporate

Markets

PLC

(New

York)

1,718,000

5.510

05/22/25

1,717,948

National

Bank

of

Kuwait

2,774,000

5.730

08/20/24

2,774,472

Standard

Chartered

Bank

2,388,000

–

09/05/24

(d)

2,390,077

Sumitomo

Mitsui

Banking

Corp.

(

SOFR

+

0.700%

)

460,000

6.030

08/14/24

(b)

460,534

TOTAL

CERTIFICATE

OF

DEPOSITS

(Cost

$20,184,061)

20,199,683

a

U.S.

Government

Agency

Obligations

–

0.0%

(f)

Federal

Farm

Credit

Bank

(

SOFR

+

0.115%

)

58,000

5.445

12/03/24

(b)

58,029

(

SOFR

+

0.200%

)

25,000

5.530

12/05/24

(b)

25,024

GOLDMAN

SACHS

ACCESS

ULTRA

SHORT

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

**End

swaps

header**

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

U.S.

Government

Agency

Obligations

–

(continued)

Federal

Farm

Credit

Banks

Funding

Corp.

(

Prime

Rate

-

3.010%

)

$

29,000

5.490

%

08/07/25

(b)

$

29,046

TOTAL

U.S.

GOVERNMENT

AGENCY

OBLIGATIONS

(Cost

$112,009)

112,099

Aaa

a

Short-Term

Investment

–

5.2%

Commercial

Paper

–

4.7%

ASB

Bank

Limited

$

1,591,000

5.680

%

1,590,907

Banco

Santander

SA

1,500,000

5.750

1,500,301

Bank

of

Nova

Scotia

(The)

(SOFR

+

0.780%)

1,806,000

–

(b)(c)(d)

1,807,066

Deutsche

Bank

AG

2,882,000

5.790

2,883,873

Enel

Finance

America

LLC

1,531,000

5.807

1,490,352

First

Abu

Dhabi

Bank

USA

N.V.

1,205,000

5.593

1,166,464

General

Motors

Co.

1,215,000

5.777

1,187,079

HSBC

USA

Inc.

1,696,000

6.412

1,655,415

JP

Morgan

Securities

LLC

1,696,000

5.930

1,696,640

Macquarie

Bank

Ltd.

1,569,000

5.930

1,571,729

National

Bank

of

Canada,

GMTN

(SOFRINDX

+

0.900%)

5,000,000

6.245

(b)

5,008,814

Societe

Generale

4,038,000

5.610

3,923,078

Wells

Fargo

Bank

NA

(SOFR

+

1.070%)

2,122,000

6.415

(b)

2,149,414

27,631,132

U.S.

Treasury

Bills

–

0.5%

U.S.

Treasury

Bills

$

3,137,600

5.221

%

2,988,796

TOTAL

SHORT-TERM

INVESTMENT

(Cost

$30,575,326)

30,619,928

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

0.2%

(g)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

1,296,855

5.227%

$

1,296,855

(Cost

$1,296,855)

TOTAL

INVESTMENTS

–

100.0%

(Cost

$593,524,556)

$

592,817,387

OTHER

ASSETS

IN

EXCESS

OF

LIABILITIES

–

0.0%

69,912

NET

ASSETS

–

100.0%

$

592,887,299

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

(b)

Variable

or

floating

rate

security.

Except

for

floating

rate

notes

(for

which

final

maturity

is

disclosed),

maturity

date

disclosed

is

the

next

interest

reset

date.

Interest

rate

disclosed

is

that

which

is

in

effect

on

May

31,

2024.

(c)

When-issued

security.

(d)

Zero

coupon

bond

until

next

reset

date.

(e)

Interest

rates

represent

either

the

stated

coupon

rate,

annualized

yield

on

date

of

purchase

for

discounted

securities,

or,

for

floating

rate

securities,

the

current

reset

rate,

which

is

based

upon

current

interest

rate

indices.

(f)

Less

than

0.05%

(g)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

BA

—

Banker

Acceptance

Rate

CLO

—

Collateralized

Loan

Obligation

CMT

—

Constant

Maturity

Treasury

Index

FHLMC

—

Federal

Home

Loan

Mortgage

Corp.

FNMA

—

Federal

National

Mortgage

Association

GMTN

—

Global

Medium

Term

Note

GNMA

—

Insured

by

Government

National

Mortgage

Association

LIBOR

—

London

Interbank

Offered

Rate

LP

—

Limited

Partnership

MMY

—

Money

Market

Yield

MTN

—

Medium

Term

Note

PLC

—

Public

Limited

Company

Prime

—

Federal

Reserve

Bank

Prime

Loan

Rate

US

SOFR

—

Secured

Overnight

Financing

Rate

SOFRINDX

—

Secured

Overnight

Financing

Rate

Index

T-Bill

—

Treasury

Bill

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

U.S.

Treasury

Notes

–

30.7%

U.S.

Treasury

Notes

$

9,910,000

5.000

%

(a)

09/30/25

$

9,900,123

48,246,000

0.250

(a)

10/31/25

45,129,926

30,649,000

1.625

(a)

05/15/26

28,803,865

20,697,000

1.625

(a)

09/30/26

19,276,237

17,774,000

1.500

(a)

01/31/27

16,356,947

3,429,000

2.875

(a)

04/30/29

3,183,506

3,763,000

2.750

(a)

05/31/29

3,469,492

1,966,000

1.125

(a)

02/15/31

1,589,639

TOTAL

U.S.

TREASURY

NOTES

(Cost

$128,907,356)

127,709,735

a

Mortgage-Backed

Securities

–

26.6%

a

Federal

Home

Loan

Mortgage

Corporation

1,538,687

2.000

04/01/36

1,355,097

2,155,720

2.000

09/01/36

1,893,986

259,373

4.500

07/01/48

245,559

220,930

2.500

11/01/50

182,322

9,074,152

2.000

03/01/51

7,067,213

2,728,477

2.000

05/01/51

2,116,294

2,570,451

2.500

05/01/51

2,094,125

10,728,999

2.500

08/01/51

8,846,349

2,555,611

3.000

05/01/52

2,155,357

959,521

3.500

05/01/52

841,978

189,699

4.500

05/01/52

177,975

3,544,910

3.000

08/01/52

3,028,690

1,273,372

4.000

08/01/52

1,158,340

Federal

National

Mortgage

Association

386,000

1.750

07/02/24

384,876

100,000

0.375

08/25/25

94,378

3,717,173

2.000

08/01/36

3,254,701

4,000,000

1.500

TBA-15yr

(b)

3,400,625

3,000,000

2.500

TBA-15yr

(b)

2,693,203

2,000,000

3.000

TBA-15yr

(b)

1,838,438

2,397,509

3.500

07/01/45

2,155,506

61,663

4.500

06/01/48

58,381

321,105

4.500

07/01/48

304,008

23,498

5.000

12/01/48

23,191

42,768

4.500

01/01/49

40,794

34,623

4.500

08/01/49

33,155

525,252

4.500

08/01/49

500,671

192,351

5.000

12/01/49

189,415

25,190

4.500

01/01/50

23,888

105,323

4.500

03/01/50

99,819

106,912

5.000

04/01/50

106,405

1,464,020

2.500

06/01/50

1,201,299

47,541

4.500

10/01/50

45,099

79,780

4.500

10/01/50

75,358

1,895,772

2.500

11/01/50

1,561,103

1,890,496

2.500

01/01/51

1,542,892

94,093

2.500

02/01/51

77,719

507,432

2.500

03/01/51

418,084

903,335

2.000

04/01/51

698,244

3,950,613

2.000

05/01/51

3,064,260

634,818

2.500

09/01/51

518,116

2,512,330

2.500

10/01/51

2,069,807

1,154,001

2.500

11/01/51

951,754

1,485,517

2.500

11/01/51

1,223,787

2,390,246

4.500

10/01/52

2,242,406

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Mortgage-Backed

Securities

–

(continued)

a

Federal

National

Mortgage

Association

–

(continued)

$

775,048

5.000

%

10/01/52

$

747,275

926,587

5.000

11/01/52

892,814

1,256,621

3.500

12/01/52

1,103,916

1,250,160

4.000

12/01/52

1,136,189

2,000,000

1.500

TBA-30yr

(b)

1,467,031

1,000,000

2.000

TBA-30yr

(b)

770,859

4,000,000

3.000

TBA-30yr

(b)

3,366,562

5,000,000

4.000

TBA-30yr

(b)

4,540,234

1,000,000

5.500

TBA-30yr

(b)

984,453

3,000,000

6.000

TBA-30yr

(b)

3,004,922

5,000,000

3.500

TBA-30yr

(b)

4,382,422

Government

National

Mortgage

Association

48,714

5.000

12/20/48

48,110

26,136

5.000

05/20/49

25,755

268,037

3.000

09/20/49

234,597

96,732

4.500

03/20/50

91,476

52,359

5.000

05/20/50

51,722

203,996

4.000

09/20/50

190,067

3,057,048

2.000

11/20/50

2,453,199

714,609

3.000

07/20/51

618,579

3,277,715

2.000

09/20/51

2,625,469

5,494,327

2.500

09/20/51

4,579,639

2,197,983

4.500

10/20/52

2,080,354

1,701,891

4.000

05/20/53

1,565,460

5,000,000

3.000

TBA-30yr

(b)

4,322,266

6,000,000

3.500

TBA-30yr

(b)

5,355,938

1,000,000

5.000

TBA-30yr

(b)

971,172

1,000,000

5.500

TBA-30yr

(b)

992,656

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost

$112,877,791)

110,657,803

a

Corporate

Obligations

–

21.4%

Aerospace

&

Defense

–

0.5%

Boeing

Co.

(The)

195,000

4.875

05/01/25

192,973

326,000

3.625

02/01/31

284,082

300,000

5.805

05/01/50

270,160

General

Dynamics

Corp.

215,000

3.625

04/01/30

200,499

Hexcel

Corp.

40,000

4.200

02/15/27

38,325

Lockheed

Martin

Corp.

335,000

5.250

01/15/33

339,477

200,000

5.700

11/15/54

206,127

RTX

Corp.

400,000

6.100

03/15/34

419,037

200,000

6.400

03/15/54

217,447

Textron,

Inc.

80,000

3.000

06/01/30

70,019

2,238,146

Banks

–

3.7%

American

Express

Co.

400,000

3.950

08/01/25

393,299

Bank

of

America

Corp.

(

SOFR

+

0.960%

)

102,000

1.734

07/22/27

(c)

93,849

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

3M

U.S.

T-Bill

MMY

+

1.302%

)

$

160,000

3.419

%

12/20/28

(c)

$

149,673

(

SOFR

+

1.630%

)

500,000

5.202

04/25/29

(c)

497,912

(

SOFR

+

2.150%

)

180,000

2.592

04/29/31

(c)

154,628

(

SOFR

+

1.650%

)

500,000

5.468

01/23/35

(c)

498,047

(

US

5

Year

CMT

T-Note

+

1.200%

)

84,000

2.482

09/21/36

(c)

67,302

(

3M

U.S.

T-Bill

MMY

+

2.076%

)

204,000

4.244

04/24/38

(c)

180,008

100,000

7.750

05/14/38

119,216

Bank

of

America

Corp.

,

MTN

80,000

3.875

08/01/25

78,659

75,000

3.248

10/21/27

70,510

(

SOFR

+

1.010%

)

42,000

1.197

10/24/26

(c)

39,544

(

3M

U.S.

T-Bill

MMY

+

1.322%

)

80,000

3.559

04/23/27

(c)

77,196

(

SOFR

+

2.040%

)

210,000

4.948

07/22/28

(c)

207,514

(

3M

U.S.

T-Bill

MMY

+

1.472%

)

300,000

3.974

02/07/30

(c)

282,233

(

3M

U.S.

T-Bill

MMY

+

1.252%

)

160,000

2.496

02/13/31

(c)

137,046

(

SOFR

+

1.530%

)

40,000

1.898

07/23/31

(c)

32,627

(

SOFR

+

1.930%

)

176,000

2.676

06/19/41

(c)

123,513

(

3M

U.S.

T-Bill

MMY

+

3.412%

)

154,000

4.083

03/20/51

(c)

123,062

(

SOFR

+

1.880%

)

60,000

2.831

10/24/51

(c)

37,695

Bank

of

America

Corp.

,

Series

L

67,000

4.183

11/25/27

64,603

73,000

4.750

04/21/45

65,333

Bank

of

America

Corp.

,

Series

N

(

SOFR

+

1.650%

)

42,000

3.483

03/13/52

(c)

30,276

Bank

of

New

York

Mellon

Corp.

(The)

,

MTN

300,000

2.800

05/04/26

286,971

250,000

3.400

01/29/28

236,060

180,000

1.800

07/28/31

144,121

Capital

One

Financial

Corp.

(

SOFR

+

1.290%

)

88,000

2.636

03/03/26

(c)

85,823

(

SOFR

+

2.600%

)

349,000

5.817

02/01/34

(c)

344,820

Citizens

Bank

NA

250,000

2.250

04/28/25

242,049

376,000

3.750

02/18/26

363,127

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

Citizens

Financial

Group,

Inc.

$

215,000

2.850

%

07/27/26

$

202,454

Fifth

Third

Bancorp

88,000

2.550

05/05/27

81,666

300,000

3.950

03/14/28

284,573

40,000

8.250

03/01/38

46,831

JPMorgan

Chase

&

Co.

(

3M

U.S.

T-Bill

MMY

+

1.585%

)

121,000

2.005

03/13/26

(c)

117,606

40,000

7.625

10/15/26

42,104

245,000

8.000

04/29/27

263,610

80,000

4.250

10/01/27

77,833

15,000

5.400

01/06/42

15,066

40,000

4.850

02/01/44

37,068

(

SOFR

+

0.800%

)

42,000

1.045

11/19/26

(c)

39,313

(

3M

U.S.

T-Bill

MMY

+

1.599%

)

400,000

3.782

02/01/28

(c)

382,521

(

3M

U.S.

T-Bill

MMY

+

1.642%

)

50,000

3.540

05/01/28

(c)

47,623

40,000

3.964

11/15/48

(c)

32,175

(

SOFR

+

1.990%

)

718,000

4.851

07/25/28

(c)

708,413

(

3M

U.S.

T-Bill

MMY

+

1.592%

)

40,000

4.452

12/05/29

(c)

38,734

(

3M

U.S.

T-Bill

MMY

+

1.510%

)

190,000

2.739

10/15/30

(c)

165,908

(

3M

U.S.

T-Bill

MMY

+

3.790%

)

342,000

4.493

03/24/31

(c)

329,125

(

3M

U.S.

T-Bill

MMY

+

1.105%

)

25,000

1.764

11/19/31

(c)

20,140

(

SOFR

+

1.180%

)

240,000

2.545

11/08/32

(c)

198,493

(

3M

U.S.

T-Bill

MMY

+

1.622%

)

152,000

3.882

07/24/38

(c)

129,863

(

SOFR

+

2.440%

)

660,000

3.109

04/22/51

(c)

448,116

Morgan

Stanley

(

SOFR

+

0.879%

)

50,000

1.593

05/04/27

(c)

46,435

(

SOFR

+

1.360%

)

96,000

2.484

09/16/36

(c)

75,525

Morgan

Stanley

,

GMTN

980,000

3.875

01/27/26

954,736

Morgan

Stanley

,

MTN

(

SOFR

+

1.870%

)

832,000

5.250

04/21/34

(c)

815,258

244,000

4.375

01/22/47

208,118

PNC

Financial

Services

Group,

Inc.

(The)

(

SOFR

+

1.730%

)

299,000

6.615

10/20/27

(c)

306,129

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Banks

–

(continued)

(

SOFR

+

2.284%

)

$

200,000

6.875

%

10/20/34

(c)

$

216,898

Synchrony

Financial

150,000

3.950

12/01/27

140,480

100,000

2.875

10/28/31

80,651

Truist

Financial

Corp.

,

MTN

(

SOFR

+

1.620%

)

400,000

5.435

01/24/30

(c)

397,794

(

SOFR

+

1.922%

)

200,000

5.711

01/24/35

(c)

199,445

U.S.

Bancorp

,

MTN

80,000

3.900

04/26/28

76,484

80,000

3.000

07/30/29

71,015

40,000

1.375

07/22/30

31,962

U.S.

Bancorp

,

Series

V

300,000

2.375

07/22/26

282,870

U.S.

Bancorp

,

Series

X

150,000

3.150

04/27/27

142,256

Wells

Fargo

&

Co.

286,000

3.000

04/22/26

273,271

400,000

3.000

10/23/26

378,300

128,000

5.606

01/15/44

125,030

60,000

3.900

05/01/45

47,861

(

SOFR

+

2.000%

)

207,000

2.188

04/30/26

(c)

200,710

Wells

Fargo

&

Co.

,

MTN

(

3M

U.S.

T-Bill

MMY

+

1.572%

)

50,000

3.584

05/22/28

(c)

47,506

25,000

4.150

01/24/29

23,947

290,000

4.750

12/07/46

249,343

(

3M

U.S.

T-Bill

MMY

+

1.262%

)

400,000

2.572

02/11/31

(c)

344,506

(

3M

U.S.

T-Bill

MMY

+

4.032%

)

340,000

4.478

04/04/31

(c)

323,468

Wells

Fargo

Bank

NA

300,000

6.600

01/15/38

325,912

15,321,861

Basic

Industry

–

0.3%

Celanese  U.S.

Holdings

LLC

126,000

6.700

11/15/33

132,674

CF

Industries,

Inc.

100,000

5.150

03/15/34

95,555

100,000

5.375

03/15/44

92,271

Dow

Chemical

Co.

(The)

60,000

3.600

11/15/50

42,333

Linde,

Inc.

61,000

1.100

08/10/30

48,782

LYB

International

Finance

III

LLC

40,000

2.250

10/01/30

33,802

323,000

3.625

04/01/51

225,576

Sherwin-Williams

Co.

(The)

200,000

3.450

06/01/27

190,634

Westlake

Corp.

425,000

3.125

08/15/51

268,839

1,130,466

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Brokerage

–

0.3%

Affiliated

Managers

Group,

Inc.

$

130,000

3.300

%

06/15/30

$

114,615

Cboe

Global

Markets,

Inc.

110,000

3.650

01/12/27

106,207

CME

Group,

Inc.

105,000

3.000

03/15/25

103,105

Intercontinental

Exchange,

Inc.

100,000

3.100

09/15/27

93,881

185,000

2.100

06/15/30

155,613

308,000

4.600

03/15/33

293,880

78,000

3.000

06/15/50

51,043

Jefferies

Financial

Group,

Inc.

40,000

4.850

01/15/27

39,368

40,000

4.150

01/23/30

36,769

84,000

6.250

01/15/36

84,999

20,000

6.500

01/20/43

20,501

1,099,981

Capital

Goods

–

0.6%

Carrier

Global

Corp.

100,000

3.577

04/05/50

73,213

Caterpillar

Financial

Services

Corp.

,

MTN

110,000

3.400

05/13/25

108,048

Caterpillar,

Inc.

50,000

3.803

08/15/42

41,014

114,000

3.250

04/09/50

81,418

CNH

Industrial

Capital

LLC

50,000

1.450

07/15/26

46,069

Cummins,

Inc.

53,000

2.600

09/01/50

31,908

Deere

&

Co.

25,000

3.900

06/09/42

20,867

40,000

2.875

09/07/49

26,898

25,000

3.750

04/15/50

19,851

Flowserve

Corp.

140,000

3.500

10/01/30

124,156

Honeywell

International,

Inc.

100,000

2.700

08/15/29

89,870

188,000

1.950

06/01/30

159,173

Illinois

Tool

Works,

Inc.

115,000

3.900

09/01/42

95,485

John

Deere

Capital

Corp.

,

MTN

126,000

4.800

01/09/26

125,390

300,000

4.750

01/20/28

298,384

35,000

2.800

07/18/29

31,648

80,000

2.450

01/09/30

70,340

Otis

Worldwide

Corp.

60,000

2.293

04/05/27

55,614

Republic

Services,

Inc.

150,000

2.375

03/15/33

119,441

Trane

Technologies

Financing

Ltd.

50,000

3.800

03/21/29

47,344

Waste

Management,

Inc.

50,000

0.750

11/15/25

46,840

100,000

3.150

11/15/27

94,279

50,000

2.500

11/15/50

29,689

Westinghouse

Air

Brake

Technologies

Corp.

75,000

3.450

11/15/26

71,496

117,000

4.700

09/15/28

114,384

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Capital

Goods

–

(continued)

WW

Grainger,

Inc.

$

60,000

4.600

%

06/15/45

$

53,700

100,000

3.750

05/15/46

77,663

Xylem,

Inc.

15,000

3.250

11/01/26

14,294

420,000

1.950

01/30/28

375,749

2,544,225

Communications

–

0.8%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

18,000

4.908

07/23/25

17,810

82,000

3.750

02/15/28

76,040

82,000

4.200

03/15/28

77,103

90,000

5.050

03/30/29

86,263

40,000

2.800

04/01/31

32,596

72,000

6.384

10/23/35

70,293

66,000

5.375

04/01/38

57,103

85,000

6.484

10/23/45

78,394

60,000

5.750

04/01/48

50,427

40,000

5.125

07/01/49

30,713

40,000

6.834

10/23/55

37,863

85,000

3.850

04/01/61

50,065

60,000

4.400

12/01/61

39,083

Comcast

Corp.

420,000

3.950

10/15/25

412,301

360,000

4.550

01/15/29

352,719

442,000

4.250

01/15/33

410,904

126,000

2.887

11/01/51

78,164

110,000

5.350

05/15/53

104,943

300,000

2.937

11/01/56

179,991

Meta

Platforms,

Inc.

200,000

5.600

05/15/53

202,610

Time

Warner

Cable

Enterprises

LLC

94,000

8.375

07/15/33

104,126

Time

Warner

Cable

LLC

57,000

6.750

06/15/39

55,224

15,000

5.875

11/15/40

12,978

57,000

5.500

09/01/41

47,732

TWDC

Enterprises

18

Corp.

15,000

4.375

08/16/41

13,059

TWDC

Enterprises

18

Corp.

,

GMTN

15,000

4.125

06/01/44

12,530

TWDC

Enterprises

18

Corp.

,

MTN

250,000

2.950

06/15/27

236,347

Walt

Disney

Co.

(The)

100,000

3.700

10/15/25

98,018

226,000

2.200

01/13/28

206,402

80,000

2.000

09/01/29

68,907

80,000

3.800

03/22/30

75,130

90,000

3.500

05/13/40

71,590

15,000

4.750

09/15/44

13,627

50,000

3.600

01/13/51

37,262

3,498,317

Consumer

Cyclical

–

2.0%

Amazon.com,

Inc.

152,000

3.300

04/13/27

145,356

250,000

3.150

08/22/27

237,403

42,000

2.100

05/12/31

35,142

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

Amazon.com,

Inc.

–

(continued)

$

80,000

4.050

%

08/22/47

$

66,888

15,000

2.500

06/03/50

9,151

200,000

3.950

04/13/52

161,203

75,000

4.250

08/22/57

62,623

50,000

2.700

06/03/60

29,433

American

Honda

Finance

Corp.

,

GMTN

160,000

5.125

07/07/28

160,206

Best

Buy

Co.,

Inc.

190,000

4.450

10/01/28

184,256

Booking

Holdings,

Inc.

84,000

4.625

04/13/30

82,032

Costco

Wholesale

Corp.

40,000

3.000

05/18/27

38,184

116,000

1.750

04/20/32

92,623

DR

Horton,

Inc.

90,000

2.600

10/15/25

86,452

100,000

1.400

10/15/27

88,432

eBay,

Inc.

84,000

6.300

11/22/32

88,952

Expedia

Group,

Inc.

250,000

3.250

02/15/30

223,503

Ford

Motor

Credit

Co.

LLC

290,000

6.798

11/07/28

299,891

250,000

7.122

11/07/33

266,193

General

Motors

Co.

110,000

5.600

10/15/32

109,270

108,000

5.950

04/01/49

103,983

General

Motors

Financial

Co.,

Inc.

500,000

6.050

10/10/25

502,151

Home

Depot,

Inc.

(The)

250,000

2.800

09/14/27

233,975

300,000

4.500

09/15/32

290,759

63,000

3.125

12/15/49

42,598

300,000

3.625

04/15/52

220,085

Las

Vegas

Sands

Corp.

125,000

3.900

08/08/29

113,599

Lennar

Corp.

152,000

4.750

11/29/27

150,288

Lowe's

Cos.,

Inc.

92,000

2.625

04/01/31

78,188

340,000

5.150

07/01/33

336,964

200,000

5.625

04/15/53

193,866

100,000

4.450

04/01/62

77,629

Marriott

International,

Inc.

,

Series

EE

84,000

5.750

05/01/25

84,038

Marriott

International,

Inc.

,

Series

FF

200,000

4.625

06/15/30

192,890

Mastercard,

Inc.

60,000

2.000

03/03/25

58,419

15,000

3.300

03/26/27

14,369

100,000

3.950

02/26/48

81,729

50,000

3.850

03/26/50

39,533

McDonald's

Corp.

,

MTN

160,000

3.500

03/01/27

153,398

84,000

3.500

07/01/27

80,224

45,000

4.700

12/09/35

42,411

60,000

4.450

09/01/48

50,551

170,000

5.150

09/09/52

158,052

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Cyclical

–

(continued)

MDC

Holdings,

Inc.

$

121,000

2.500

%

01/15/31

$

106,783

40,000

6.000

01/15/43

40,000

NIKE,

Inc.

20,000

3.375

03/27/50

14,464

O'Reilly

Automotive,

Inc.

80,000

4.200

04/01/30

75,627

PulteGroup,

Inc.

88,000

6.375

05/15/33

92,117

Starbucks

Corp.

250,000

3.800

08/15/25

245,096

30,000

3.750

12/01/47

22,462

Tapestry,

Inc.

33,000

4.125

07/15/27

31,352

Target

Corp.

550,000

2.250

04/15/25

535,929

Toyota

Motor

Credit

Corp.

76,000

3.950

06/30/25

74,957

40,000

3.650

01/08/29

37,781

126,000

5.550

11/20/30

128,869

Toyota

Motor

Credit

Corp.

,

MTN

126,000

0.800

01/09/26

117,450

100,000

1.150

08/13/27

88,691

80,000

3.375

04/01/30

73,185

Visa,

Inc.

40,000

1.900

04/15/27

36,877

77,000

0.750

08/15/27

67,970

115,000

2.750

09/15/27

107,594

40,000

4.300

12/14/45

34,854

Walmart,

Inc.

100,000

7.550

02/15/30

114,412

384,000

1.800

09/22/31

314,288

200,000

2.650

09/22/51

125,482

Western

Union

Co.

(The)

50,000

1.350

03/15/26

46,347

8,299,479

Consumer

Noncyclical

–

1.5%

Abbott

Laboratories

60,000

3.875

09/15/25

59,010

150,000

4.750

11/30/36

144,751

100,000

6.000

04/01/39

107,358

40,000

4.750

04/15/43

37,514

AbbVie,

Inc.

194,000

2.950

11/21/26

184,254

100,000

4.625

10/01/42

90,803

200,000

4.400

11/06/42

176,750

84,000

4.700

05/14/45

76,283

150,000

4.250

11/21/49

125,041

Agilent

Technologies,

Inc.

100,000

2.750

09/15/29

88,670

Altria

Group,

Inc.

115,000

3.400

05/06/30

103,421

40,000

4.500

05/02/43

32,832

40,000

5.375

01/31/44

38,021

75,000

3.875

09/16/46

54,422

92,000

5.950

02/14/49

90,207

55,000

4.450

05/06/50

42,152

Bristol-Myers

Squibb

Co.

300,000

0.750

11/13/25

281,890

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Noncyclical

–

(continued)

Bristol-Myers

Squibb

Co.

–

(continued)

$

126,000

3.200

%

06/15/26

$

121,451

50,000

3.250

02/27/27

48,012

152,000

3.550

03/15/42

119,129

500,000

5.500

02/22/44

495,953

Centene

Corp.

400,000

4.250

12/15/27

382,500

Elevance

Health,

Inc.

300,000

5.500

10/15/32

303,417

Eli

Lilly

&

Co.

15,000

3.100

05/15/27

14,290

102,000

3.375

03/15/29

95,706

400,000

4.700

02/09/34

389,279

44,000

3.950

03/15/49

35,744

Equifax,

Inc.

40,000

3.250

06/01/26

38,281

42,000

2.350

09/15/31

34,426

Gilead

Sciences,

Inc.

479,000

2.800

10/01/50

303,363

Johnson

&

Johnson

384,000

2.100

09/01/40

255,284

Kroger

Co.

(The)

25,000

3.875

10/15/46

18,719

Medtronic,

Inc.

50,000

4.375

03/15/35

46,919

Merck

&

Co.,

Inc.

450,000

4.050

05/17/28

439,382

200,000

5.000

05/17/53

188,209

Mylan,

Inc.

92,000

5.400

11/29/43

79,698

77,000

5.200

04/15/48

62,292

Philip

Morris

International,

Inc.

350,000

4.875

02/13/26

347,599

250,000

5.375

02/15/33

248,819

Thermo

Fisher

Scientific,

Inc.

300,000

5.086

08/10/33

297,632

Utah

Acquisition

Sub,

Inc.

75,000

5.250

06/15/46

61,765

Viatris,

Inc.

92,000

2.700

06/22/30

77,336

15,000

4.000

06/22/50

10,211

Walgreens

Boots

Alliance,

Inc.

112,000

3.450

06/01/26

106,642

40,000

4.800

11/18/44

33,440

15,000

4.650

06/01/46

12,280

6,401,157

Consumer

Products

–

0.2%

Clorox

Co.

(The)

115,000

4.600

05/01/32

110,941

Colgate-Palmolive

Co.

,

MTN

40,000

4.000

08/15/45

33,593

15,000

3.700

08/01/47

11,914

Haleon

US

Capital

LLC

250,000

4.000

03/24/52

199,182

Kimberly-Clark

Corp.

125,000

6.625

08/01/37

142,228

Procter

&

Gamble

Co.

(The)

40,000

0.550

10/29/25

37,549

40,000

1.000

04/23/26

37,174

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Consumer

Products

–

(continued)

Procter

&

Gamble

Co.

(The)

–

(continued)

$

126,000

2.450

%

11/03/26

$

118,909

15,000

2.850

08/11/27

14,137

705,627

Electric

–

2.5%

AEP

Transmission

Co.

LLC

200,000

5.400

03/15/53

193,016

Alabama

Power

Co.

,

Series

20-A

15,000

1.450

09/15/30

12,108

Alabama

Power

Co.

,

Series

A

100,000

4.300

07/15/48

82,894

Ameren

Illinois

Co.

126,000

4.950

06/01/33

123,099

122,000

5.900

12/01/52

126,853

American

Electric

Power

Co.,

Inc.

226,000

5.625

03/01/33

224,585

Atmos

Energy

Corp.

80,000

2.850

02/15/52

49,991

80,000

5.750

10/15/52

82,042

Berkshire

Hathaway

Energy

Co.

110,000

4.050

04/15/25

108,674

260,000

4.600

05/01/53

216,327

Black

Hills

Corp.

20,000

2.500

06/15/30

16,624

CenterPoint

Energy

Resources

Corp.

400,000

5.250

03/01/28

399,854

Cleco

Corporate

Holdings

LLC

80,000

3.375

09/15/29

69,350

Cleco

Power

LLC

15,000

6.000

12/01/40

14,944

Commonwealth

Edison

Co.

300,000

3.650

06/15/46

225,011

Commonwealth

Edison

Co.

,

Series

123

40,000

3.750

08/15/47

30,078

Consolidated

Edison

Co.

of

New

York,

Inc.

170,000

3.850

06/15/46

131,127

40,000

4.625

12/01/54

33,980

80,000

4.500

05/15/58

65,475

Consolidated

Edison

Co.

of

New

York,

Inc.

,

Series

08-B

10,000

6.750

04/01/38

11,037

Consolidated

Edison

Co.

of

New

York,

Inc.

,

Series

12-A

40,000

4.200

03/15/42

33,405

Consolidated

Edison

Co.

of

New

York,

Inc.

,

Series

A

15,000

4.125

05/15/49

11,883

Constellation

Energy

Generation

LLC

150,000

6.125

01/15/34

156,546

Consumers

Energy

Co.

250,000

4.625

05/15/33

239,209

Dominion

Energy,

Inc.

80,000

4.250

06/01/28

77,098

Dominion

Energy,

Inc.

,

Series

C

300,000

3.375

04/01/30

269,380

DTE

Electric

Co.

150,000

3.950

06/15/42

119,610

15,000

3.700

03/15/45

11,608

DTE

Electric

Co.

,

Series

A

40,000

4.000

04/01/43

32,780

Duke

Energy

Carolinas

LLC

118,000

3.700

12/01/47

87,702

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

Duke

Energy

Carolinas

LLC

–

(continued)

$

50,000

3.950

%

03/15/48

$

38,658

Duke

Energy

Corp.

102,000

2.550

06/15/31

85,328

268,000

3.750

09/01/46

198,045

Duke

Energy

Florida

LLC

25,000

3.400

10/01/46

17,876

Duke

Energy

Indiana

LLC

50,000

6.350

08/15/38

53,121

40,000

6.450

04/01/39

42,974

130,000

2.750

04/01/50

78,576

Duke

Energy

Progress

LLC

100,000

3.450

03/15/29

93,092

200,000

6.300

04/01/38

212,307

15,000

4.100

05/15/42

12,298

Edison

International

214,000

5.750

06/15/27

215,653

184,000

4.125

03/15/28

175,300

Entergy

Corp.

50,000

2.800

06/15/30

43,448

Entergy

Louisiana

LLC

194,000

4.200

04/01/50

154,041

Exelon

Corp.

240,000

5.300

03/15/33

237,734

100,000

4.450

04/15/46

83,406

Georgia

Power

Co.

,

Series

B

168,000

2.650

09/15/29

148,986

15,000

3.700

01/30/50

11,144

Interstate

Power

and

Light

Co.

200,000

2.300

06/01/30

169,054

40,000

3.500

09/30/49

27,896

National

Rural

Utilities

Cooperative

Finance

Corp.

40,000

2.400

03/15/30

34,335

100,000

2.750

04/15/32

83,431

300,000

4.023

11/01/32

273,561

NextEra

Energy

Capital

Holdings,

Inc.

400,000

4.900

02/28/28

396,221

300,000

5.250

03/15/34

293,392

160,000

5.250

02/28/53

149,212

NiSource,

Inc.

184,000

5.250

03/30/28

183,599

Northern

States

Power

Co.

172,000

4.500

06/01/52

145,580

NSTAR

Electric

Co.

15,000

3.200

05/15/27

14,202

100,000

3.950

04/01/30

93,390

Oncor

Electric

Delivery

Co.

LLC

250,000

3.100

09/15/49

167,213

Pacific

Gas

and

Electric

Co.

100,000

3.450

07/01/25

97,576

200,000

2.100

08/01/27

180,194

210,000

4.300

03/15/45

161,962

150,000

4.000

12/01/46

109,766

50,000

5.250

03/01/52

43,284

PacifiCorp

214,000

5.500

05/15/54

195,944

PECO

Energy

Co.

100,000

4.800

10/15/43

90,145

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Electric

–

(continued)

Public

Service

Electric

and

Gas

Co.

,

MTN

$

42,000

1.900

%

08/15/31

$

33,850

248,000

3.800

03/01/46

198,956

80,000

3.000

03/01/51

52,591

Public

Service

Enterprise

Group,

Inc.

40,000

2.450

11/15/31

32,793

Puget

Sound

Energy,

Inc.

173,000

4.223

06/15/48

137,827

Sempra

110,000

3.800

02/01/38

90,034

100,000

4.000

02/01/48

76,192

Southern

California

Edison

Co.

40,000

2.850

08/01/29

35,655

200,000

5.700

03/01/53

195,380

Southern

Co.

(The)

110,000

5.113

08/01/27

109,343

202,000

4.400

07/01/46

170,217

Southern

Co.

(The)

,

Series

21-A

(

US

5

Year

CMT

T-Note

+

2.915%

)

100,000

3.750

09/15/51

(c)

93,528

Southern

Co.

Gas

Capital

Corp.

15,000

3.950

10/01/46

11,327

100,000

4.400

05/30/47

81,582

Tucson

Electric

Power

Co.

126,000

4.850

12/01/48

109,583

Virginia

Electric

and

Power

Co.

,

Series

A

100,000

3.500

03/15/27

95,690

Virginia

Electric

and

Power

Co.

,

Series

B

100,000

6.000

01/15/36

103,129

Virginia

Electric

and

Power

Co.

,

Series

C

150,000

4.000

11/15/46

117,867

Xcel

Energy,

Inc.

400,000

1.750

03/15/27

362,763

10,176,541

Electrical

–

0.0%

Emerson

Electric

Co.

45,000

1.950

10/15/30

37,833

15,000

6.000

08/15/32

15,743

Fortive

Corp.

15,000

4.300

06/15/46

12,444

66,020

Energy

–

1.4%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co.-Obligor,

Inc.

69,000

4.080

12/15/47

54,798

Boardwalk

Pipelines

LP

100,000

4.800

05/03/29

97,597

BP

Capital

Markets

America,

Inc.

300,000

4.234

11/06/28

290,356

Cheniere

Corpus

Christi

Holdings

LLC

40,000

5.125

06/30/27

39,650

126,000

2.742

12/31/39

100,261

Chevron

Corp.

300,000

3.326

11/17/25

291,132

Chevron

USA,

Inc.

200,000

2.343

08/12/50

115,865

ConocoPhillips

Co.

192,000

3.758

03/15/42

152,767

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Energy

Transfer

LP

$

140,000

3.750

%

05/15/30

$

127,898

300,000

6.550

12/01/33

316,807

75,000

6.125

12/15/45

73,717

192,000

5.300

04/15/47

169,085

55,000

6.250

04/15/49

54,682

Enterprise

Products

Operating

LLC

100,000

2.800

01/31/30

88,796

160,000

4.850

08/15/42

145,694

100,000

4.800

02/01/49

88,790

60,000

4.200

01/31/50

48,418

15,000

3.950

01/31/60

10,999

Enterprise

Products

Operating

LLC

,

Series

D

80,000

6.875

03/01/33

88,761

EOG

Resources,

Inc.

60,000

3.900

04/01/35

53,872

Exxon

Mobil

Corp.

75,000

2.709

03/06/25

73,486

200,000

2.275

08/16/26

188,506

200,000

4.227

03/19/40

176,226

Halliburton

Co.

50,000

5.000

11/15/45

45,633

Hess

Corp.

62,000

4.300

04/01/27

60,377

55,000

6.000

01/15/40

56,418

75,000

5.600

02/15/41

74,186

42,000

5.800

04/01/47

42,044

Kinder

Morgan

Energy

Partners

LP

126,000

7.300

08/15/33

140,130

Kinder

Morgan,

Inc.

40,000

4.300

06/01/25

39,483

56,000

2.000

02/15/31

45,631

84,000

5.200

03/01/48

74,439

MPLX

LP

200,000

1.750

03/01/26

187,514

110,000

2.650

08/15/30

93,759

125,000

4.700

04/15/48

103,234

85,000

5.500

02/15/49

78,558

NOV,

Inc.

15,000

3.950

12/01/42

11,289

Occidental

Petroleum

Corp.

50,000

5.550

03/15/26

49,729

234,000

–

10/10/36

(d)

124,101

ONEOK

Partners

LP

15,000

6.650

10/01/36

15,807

ONEOK,

Inc.

80,000

2.200

09/15/25

76,629

100,000

3.400

09/01/29

91,302

25,000

6.350

01/15/31

26,133

126,000

4.200

10/03/47

96,829

140,000

5.200

07/15/48

123,842

Phillips

66

Co.

76,000

3.550

10/01/26

72,953

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

50,000

4.650

10/15/25

49,344

40,000

4.500

12/15/26

39,101

92,000

3.550

12/15/29

83,780

35,000

6.700

05/15/36

36,144

40,000

6.650

01/15/37

42,033

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Energy

–

(continued)

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

–

(continued)

$

15,000

4.700

%

06/15/44

$

12,413

Sabine

Pass

Liquefaction

LLC

52,000

5.625

03/01/25

51,903

120,000

4.200

03/15/28

115,500

15,000

4.500

05/15/30

14,306

Spectra

Energy

Partners

LP

67,000

3.375

10/15/26

64,005

Targa

Resources

Corp.

126,000

6.150

03/01/29

129,459

Transcontinental

Gas

Pipe

Line

Co.

LLC

50,000

5.400

08/15/41

48,672

40,000

3.950

05/15/50

30,631

Valero

Energy

Corp.

84,000

3.400

09/15/26

80,488

15,000

4.900

03/15/45

13,437

60,000

3.650

12/01/51

41,582

Williams

Cos.,

Inc.

(The)

200,000

3.750

06/15/27

192,284

15,000

6.300

04/15/40

15,576

140,000

4.900

01/15/45

122,926

XTO

Energy,

Inc.

50,000

6.750

08/01/37

55,857

5,817,624

Financial

Company

–

0.3%

Air

Lease

Corp.

300,000

2.200

01/15/27

275,998

Ally

Financial,

Inc.

(

SOFR

+

3.260%

)

100,000

6.992

06/13/29

(c)

103,136

Blackstone

Private

Credit

Fund

150,000

3.250

03/15/27

138,275

GATX

Corp.

50,000

4.000

06/30/30

46,176

GE

Capital

Funding

LLC

300,000

4.550

05/15/32

286,335

GE

Capital

International

Funding

Co

Unlimited

Co.

200,000

4.418

11/15/35

184,030

1,033,950

Food

and

Beverage

–

0.4%

Coca-Cola

Co.

(The)

50,000

2.250

01/05/32

41,804

187,000

3.000

03/05/51

126,358

Conagra

Brands,

Inc.

100,000

1.375

11/01/27

87,625

Constellation

Brands,

Inc.

40,000

3.150

08/01/29

36,123

117,000

4.750

05/09/32

112,140

Hershey

Co.

(The)

40,000

3.375

08/15/46

29,495

42,000

3.125

11/15/49

28,903

J

M

Smucker

Co.

(The)

40,000

2.125

03/15/32

31,890

15,000

4.375

03/15/45

12,447

100,000

3.550

03/15/50

68,395

Kellanova

100,000

4.500

04/01/46

84,304

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Food

and

Beverage

–

(continued)

Keurig

Dr

Pepper,

Inc.

$

100,000

4.420

%

12/15/46

$

83,725

100,000

4.500

04/15/52

83,592

Kraft

Heinz

Foods

Co.

43,000

3.000

06/01/26

41,135

40,000

3.875

05/15/27

38,665

80,000

3.750

04/01/30

74,421

22,000

5.000

07/15/35

21,395

111,000

5.200

07/15/45

102,629

52,000

4.375

06/01/46

42,727

40,000

4.875

10/01/49

34,987

McCormick

&

Co.,

Inc.

60,000

2.500

04/15/30

51,550

Molson

Coors

Beverage

Co.

120,000

4.200

07/15/46

96,452

PepsiCo,

Inc.

126,000

3.500

07/17/25

123,488

146,000

2.750

03/19/30

129,853

44,000

4.600

07/17/45

38,519

84,000

4.650

02/15/53

75,647

Sysco

Corp.

80,000

2.400

02/15/30

68,814

1,767,083

Healthcare

–

1.0%

Aetna,

Inc.

40,000

4.750

03/15/44

34,087

Bio-Rad

Laboratories,

Inc.

100,000

3.700

03/15/32

88,379

Cigna

Group

(The)

400,000

4.375

10/15/28

387,047

200,000

4.900

12/15/48

176,231

CVS

Health

Corp.

200,000

3.250

08/15/29

180,818

250,000

3.750

04/01/30

228,548

76,000

1.750

08/21/30

61,473

280,000

4.780

03/25/38

250,221

256,000

5.050

03/25/48

221,483

85,000

4.250

04/01/50

64,780

Elevance

Health,

Inc.

92,000

2.550

03/15/31

78,204

15,000

4.650

08/15/44

13,172

40,000

4.850

08/15/54

33,290

Evernorth

Health,

Inc.

120,000

4.500

02/25/26

118,061

HCA,

Inc.

70,000

5.875

02/15/26

70,175

46,000

5.250

06/15/26

45,770

90,000

5.375

09/01/26

89,888

40,000

4.500

02/15/27

39,000

25,000

5.625

09/01/28

25,156

205,000

5.875

02/01/29

207,819

75,000

4.125

06/15/29

70,516

50,000

3.500

09/01/30

44,711

40,000

5.500

06/15/47

36,975

200,000

5.900

06/01/53

194,731

Humana,

Inc.

100,000

2.150

02/03/32

79,438

McKesson

Corp.

200,000

3.950

02/16/28

192,075

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Healthcare

–

(continued)

Quest

Diagnostics,

Inc.

$

100,000

2.800

%

06/30/31

$

85,723

UnitedHealth

Group,

Inc.

400,000

4.250

01/15/29

386,928

190,000

4.625

07/15/35

181,510

74,000

4.750

07/15/45

67,599

160,000

3.750

10/15/47

123,291

25,000

2.900

05/15/50

16,258

240,000

5.200

04/15/63

224,216

4,117,573

Insurance

–

0.9%

Allstate

Corp.

(The)

120,000

3.850

08/10/49

90,068

American

International

Group,

Inc.

100,000

4.750

04/01/48

88,672

American

International

Group,

Inc.

,

Series

A-9

(

3M

USD

LIBOR

+

2.868%

)

140,000

5.750

04/01/48

(c)

137,659

Aon

Global

Ltd.

100,000

4.600

06/14/44

84,710

Arch

Capital

Group

Ltd.

90,000

3.635

06/30/50

65,353

Arch

Capital

Group

US,

Inc.

40,000

5.144

11/01/43

36,614

Assurant,

Inc.

100,000

2.650

01/15/32

81,373

AXIS

Specialty

Finance

LLC

40,000

3.900

07/15/29

37,729

Berkshire

Hathaway

Finance

Corp.

200,000

4.200

08/15/48

168,842

92,000

4.250

01/15/49

78,533

Berkshire

Hathaway,

Inc.

118,000

3.125

03/15/26

114,191

Brighthouse

Financial,

Inc.

40,000

5.625

05/15/30

39,924

75,000

4.700

06/22/47

58,039

Chubb

INA

Holdings

LLC

150,000

3.350

05/03/26

144,869

42,000

1.375

09/15/30

34,053

116,000

3.050

12/15/61

73,433

CNO

Financial

Group,

Inc.

200,000

5.250

05/30/29

193,250

Fidelity

National

Financial,

Inc.

230,000

3.400

06/15/30

201,789

Hartford

Financial

Services

Group,

Inc.

(The)

30,000

3.600

08/19/49

21,765

Jackson

Financial,

Inc.

100,000

3.125

11/23/31

83,061

Marsh

&

McLennan

Cos.,

Inc.

100,000

2.375

12/15/31

82,579

100,000

4.350

01/30/47

83,583

MetLife,

Inc.

126,000

5.375

07/15/33

127,355

15,000

4.125

08/13/42

12,451

80,000

4.600

05/13/46

69,767

Old

Republic

International

Corp.

150,000

3.875

08/26/26

144,852

PartnerRe

Finance

B

LLC

92,000

3.700

07/02/29

85,471

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Insurance

–

(continued)

(

US

5

Year

CMT

T-Note

+

3.815%

)

$

207,000

4.500

%

10/01/50

(c)

$

186,792

Progressive

Corp.

(The)

100,000

4.125

04/15/47

82,444

Prudential

Financial,

Inc.

40,000

3.935

12/07/49

30,418

Prudential

Financial,

Inc.

,

MTN

15,000

6.625

06/21/40

16,582

50,000

4.600

05/15/44

43,751

62,000

4.418

03/27/48

51,345

15,000

4.350

02/25/50

12,250

60,000

3.700

03/13/51

43,806

Reinsurance

Group

of

America,

Inc.

430,000

3.900

05/15/29

400,616

Travelers

Cos.,

Inc.

(The)

92,000

3.750

05/15/46

71,637

Voya

Financial,

Inc.

(

3M

USD

LIBOR

+

2.084%

)

40,000

4.700

01/23/48

(c)

34,329

W

R

Berkley

Corp.

40,000

4.750

08/01/44

35,038

Willis

North

America,

Inc.

200,000

5.050

09/15/48

175,666

3,624,659

Media

Non

Cable

–

0.3%

FactSet

Research

Systems,

Inc.

50,000

2.900

03/01/27

46,682

Omnicom

Group,

Inc.

163,000

2.450

04/30/30

139,310

80,000

4.200

06/01/30

75,565

Paramount

Global

300,000

4.200

05/19/32

250,242

180,000

4.950

05/19/50

129,475

Warnermedia

Holdings,

Inc.

300,000

4.279

03/15/32

262,978

200,000

5.050

03/15/42

165,534

200,000

5.141

03/15/52

158,511

1,228,297

Metals

–

0.1%

Nucor

Corp.

152,000

3.950

05/23/25

149,753

150,000

3.950

05/01/28

143,619

Steel

Dynamics,

Inc.

80,000

3.450

04/15/30

72,500

145,000

3.250

01/15/31

127,962

493,834

Mining

–

0.0%

Freeport-McMoRan,

Inc.

200,000

4.125

03/01/28

191,000

Publishing

–

0.0%

S&P

Global,

Inc.

126,000

2.900

03/01/32

108,524

REITs

and

Real

Estate

–

0.8%

CBRE

Services,

Inc.

71,000

2.500

04/01/31

58,525

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

REITs

and

Real

Estate

–

(continued)

COPT

Defense

Properties

LP

$

430,000

2.750

%

04/15/31

$

353,742

Digital

Realty

Trust

LP

450,000

3.700

08/15/27

429,198

Equinix,

Inc.

82,000

3.900

04/15/32

73,993

95,000

3.000

07/15/50

59,943

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

90,000

5.250

06/01/25

89,371

40,000

5.750

06/01/28

39,830

50,000

5.300

01/15/29

49,145

85,000

4.000

01/15/30

77,084

51,000

4.000

01/15/31

45,465

Invitation

Homes

Operating

Partnership

LP

300,000

2.000

08/15/31

235,679

Kimco

Realty

OP

LLC

268,000

3.200

04/01/32

228,461

Mid-America

Apartments

LP

100,000

2.875

09/15/51

61,675

Prologis

LP

80,000

4.000

09/15/28

76,760

84,000

2.250

04/15/30

71,601

40,000

1.250

10/15/30

31,771

62,000

2.125

10/15/50

33,369

Realty

Income

Corp.

200,000

5.625

10/13/32

202,087

Sabra

Health

Care

LP

85,000

5.125

08/15/26

83,492

100,000

3.200

12/01/31

82,310

Simon

Property

Group

LP

140,000

2.450

09/13/29

122,119

70,000

2.200

02/01/31

57,704

84,000

2.650

02/01/32

69,899

10,000

6.750

02/01/40

10,917

190,000

5.850

03/08/53

188,221

UDR,

Inc.

,

MTN

100,000

1.900

03/15/33

75,328

Welltower

OP

LLC

200,000

4.000

06/01/25

196,712

200,000

4.250

04/15/28

192,751

3,297,152

Revenue

–

0.1%

California

Institute

of

Technology

15,000

3.650

09/01/19

9,896

Hackensack

Meridian

Health,

Inc.

,

Series

2020

15,000

2.675

09/01/41

10,420

NYU

Langone

Hospitals

300,000

4.784

07/01/44

281,411

Stanford

Health

Care

100,000

3.027

08/15/51

67,904

University

of

Chicago

(The)

,

Series

20B

40,000

2.761

04/01/45

30,138

Yale

University

,

Series

2020

190,000

1.482

04/15/30

157,650

80,000

2.402

04/15/50

49,278

606,697

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Software

–

0.3%

Oracle

Corp.

$

701,000

2.300

%

03/25/28

$

630,355

210,000

4.900

02/06/33

202,848

300,000

3.600

04/01/40

231,324

326,000

4.000

07/15/46

249,907

Salesforce,

Inc.

20,000

2.900

07/15/51

12,842

1,327,276

Technology

–

1.8%

Adobe,

Inc.

40,000

2.300

02/01/30

34,782

Alphabet,

Inc.

150,000

2.250

08/15/60

83,292

Apple,

Inc.

50,000

3.200

05/13/25

49,068

84,000

4.421

05/08/26

83,511

114,000

2.450

08/04/26

108,103

15,000

3.350

02/09/27

14,424

15,000

3.200

05/11/27

14,338

60,000

2.900

09/12/27

56,572

40,000

1.650

02/08/31

32,861

45,000

4.500

02/23/36

43,861

80,000

3.850

05/04/43

66,760

80,000

4.450

05/06/44

73,284

100,000

3.450

02/09/45

78,176

126,000

4.650

02/23/46

116,835

50,000

4.250

02/09/47

44,057

50,000

3.750

11/13/47

39,982

300,000

2.650

02/08/51

189,606

44,000

2.550

08/20/60

26,360

Applied

Materials,

Inc.

125,000

3.900

10/01/25

122,845

82,000

3.300

04/01/27

78,630

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

152,000

3.875

01/15/27

146,753

Broadcom,

Inc.

300,000

4.110

09/15/28

287,786

90,000

3.469

04/15/34

(e)

76,181

60,000

3.187

11/15/36

(e)

46,858

160,000

3.500

02/15/41

(e)

122,458

Cisco

Systems,

Inc.

300,000

4.850

02/26/29

298,916

200,000

5.050

02/26/34

198,659

Corning,

Inc.

67,000

5.350

11/15/48

62,647

45,000

4.375

11/15/57

35,097

Dell

International

LLC

/

EMC

Corp.

108,000

6.020

06/15/26

109,191

137,000

4.900

10/01/26

135,662

150,000

5.250

02/01/28

150,705

66,000

5.750

02/01/33

67,664

Fiserv,

Inc.

460,000

3.200

07/01/26

440,559

175,000

4.400

07/01/49

142,880

Hewlett

Packard

Enterprise

Co.

100,000

6.350

10/15/45

106,148

Intel

Corp.

500,000

4.875

02/10/28

496,420

305,000

5.700

02/10/53

298,770

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Technology

–

(continued)

International

Business

Machines

Corp.

$

402,000

4.500

%

02/06/26

$

398,244

15,000

5.875

11/29/32

15,647

150,000

4.150

05/15/39

128,286

250,000

4.000

06/20/42

203,439

Jabil,

Inc.

80,000

3.600

01/15/30

71,586

KLA

Corp.

60,000

3.300

03/01/50

42,139

Kyndryl

Holdings,

Inc.

227,000

2.700

10/15/28

201,438

42,000

3.150

10/15/31

35,312

70,000

4.100

10/15/41

53,781

Lam

Research

Corp.

40,000

3.125

06/15/60

25,436

Leidos,

Inc.

100,000

4.375

05/15/30

93,625

Meta

Platforms,

Inc.

300,000

4.950

05/15/33

300,038

Microsoft

Corp.

65,000

3.300

02/06/27

62,616

15,000

3.500

02/12/35

13,474

143,000

4.200

11/03/35

136,293

104,000

4.250

02/06/47

94,349

300,000

2.525

06/01/50

188,578

84,000

4.000

02/12/55

70,108

20,000

2.675

06/01/60

12,139

Motorola

Solutions,

Inc.

158,000

2.750

05/24/31

133,263

NVIDIA

Corp.

76,000

3.500

04/01/50

58,137

QUALCOMM,

Inc.

76,000

4.300

05/20/47

65,251

Texas

Instruments,

Inc.

400,000

4.900

03/14/33

397,649

VeriSign,

Inc.

118,000

2.700

06/15/31

98,383

7,479,912

Transportation

–

0.5%

Burlington

Northern

Santa

Fe

LLC

302,000

5.200

04/15/54

287,103

CSX

Corp.

250,000

4.100

11/15/32

232,704

100,000

4.500

11/15/52

85,651

FedEx

Corp.

40,000

3.900

02/01/35

35,250

126,000

4.750

11/15/45

108,201

40,000

4.400

01/15/47

32,317

40,000

4.950

10/17/48

35,130

Norfolk

Southern

Corp.

200,000

5.350

08/01/54

190,855

Union

Pacific

Corp.

40,000

3.700

03/01/29

37,936

300,000

4.500

01/20/33

287,424

70,000

4.050

03/01/46

56,586

10,000

4.500

09/10/48

8,590

80,000

3.799

10/01/51

61,372

60,000

3.839

03/20/60

43,911

15,000

3.750

02/05/70

10,492

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Corporate

Obligations

–

(continued)

Transportation

–

(continued)

Union

Pacific

Railroad

Co.

Pass-Through

Trust

,

Series

2015-1

$

172,747

2.695

%

05/12/27

$

160,751

United

Parcel

Service,

Inc.

400,000

4.875

03/03/33

392,975

2,067,248

Water

–

0.0%

Essential

Utilities,

Inc.

100,000

3.351

04/15/50

67,110

Wireless

–

1.1%

American

Tower

Corp.

84,000

3.375

10/15/26

80,186

160,000

3.600

01/15/28

150,402

40,000

3.950

03/15/29

37,531

42,000

3.700

10/15/49

30,415

20,000

3.100

06/15/50

12,822

AT&T,

Inc.

50,000

1.650

02/01/28

44,249

88,000

2.750

06/01/31

74,790

395,000

2.250

02/01/32

318,650

250,000

4.500

05/15/35

228,403

400,000

3.500

06/01/41

304,749

140,000

3.650

06/01/51

99,196

100,000

3.300

02/01/52

66,945

207,000

3.500

09/15/53

140,014

213,000

3.550

09/15/55

143,771

Crown

Castle,

Inc.

400,000

5.800

03/01/34

403,445

T-Mobile

USA,

Inc.

110,000

3.750

04/15/27

105,659

50,000

4.750

02/01/28

48,938

300,000

4.950

03/15/28

297,481

340,000

4.500

04/15/50

283,997

100,000

5.650

01/15/53

98,383

Verizon

Communications,

Inc.

500,000

0.850

11/20/25

468,452

145,000

3.000

03/22/27

137,018

152,000

2.355

03/15/32

123,673

290,000

3.400

03/22/41

222,606

474,000

3.550

03/22/51

340,401

111,000

2.987

10/30/56

67,995

40,000

3.700

03/22/61

28,216

4,358,387

TOTAL

CORPORATE

OBLIGATIONS

(Cost

$96,442,052)

89,068,146

a

U.S.

Treasury

Bonds

–

10.2%

U.S.

Treasury

Bonds

4,349,000

4.500

(a)

02/15/36

4,384,901

6,043,000

4.375

(a)

02/15/38

5,971,664

5,980,000

3.875

(a)

08/15/40

5,472,123

14,816,000

2.500

(a)

02/15/45

10,443,021

10,650,000

2.500

(a)

05/15/46

7,400,241

14,136,600

2.250

(a)

02/15/52

8,857,865

TOTAL

U.S.

TREASURY

BONDS

(Cost

$50,021,308)

42,529,815

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

6.0%

Banks

–

3.0%

Banco

Bilbao

Vizcaya

Argentaria

SA

(

Spain

)

$

200,000

1.125

%

09/18/25

$

188,779

Banco

Santander

SA

(

Spain

)

200,000

1.849

03/25/26

187,330

200,000

3.800

02/23/28

187,401

Bank

of

Montreal

(

Canada

)

400,000

5.300

06/05/26

399,554

Bank

of

Nova

Scotia

(The)

(

Canada

)

268,000

5.250

06/12/28

268,339

Barclays

PLC

(

United

Kingdom

)

200,000

5.200

05/12/26

197,455

(

US

1

Year

CMT

T-Note

+

3.050%

)

300,000

7.325

11/02/26

(c)

305,488

(

US

1

Year

CMT

T-Note

+

3.000%

)

300,000

5.746

08/09/33

(c)

300,025

Canadian

Imperial

Bank

of

Commerce

(

Canada

)

300,000

5.926

10/02/26

303,923

Cooperatieve

Rabobank

UA

(

Netherlands

)

300,000

5.500

10/05/26

301,763

Deutsche

Bank

AG

(

Germany

)

(

SOFR

+

1.318%

)

393,000

2.552

01/07/28

(c)

362,106

Export-Import

Bank

of

China

(The)

(

China

)

284,000

3.625

07/31/24

(e)

283,016

Export-Import

Bank

of

Korea

(

South

Korea

)

340,000

2.625

05/26/26

323,958

270,000

1.250

09/21/30

215,515

280,000

2.500

06/29/41

194,564

HSBC

Holdings

PLC

(

United

Kingdom

)

(

SOFR

+

3.030%

)

407,000

7.336

11/03/26

(c)

417,071

370,000

4.950

03/31/30

361,723

(

SOFR

+

1.187%

)

290,000

2.804

05/24/32

(c)

243,197

(

SOFR

+

2.390%

)

400,000

6.254

03/09/34

(c)

415,420

(

SOFR

+

2.650%

)

200,000

6.332

03/09/44

(c)

211,069

ING

Groep

NV

(

Netherlands

)

354,000

4.550

10/02/28

343,808

Japan

Bank

for

International

Cooperation

(

Japan

)

400,000

0.625

07/15/25

380,431

Korea

Development

Bank

(The)

(

South

Korea

)

270,000

0.800

07/19/26

246,927

320,000

4.375

02/15/33

304,246

Kreditanstalt

fuer

Wiederaufbau

(

Germany

)

500,000

0.375

07/18/25

474,820

Landwirtschaftliche

Rentenbank

(

Germany

)

70,000

0.875

03/30/26

65,149

Lloyds

Banking

Group

PLC

(

United

Kingdom

)

(

US

1

Year

CMT

T-Note

+

1.480%

)

280,000

5.985

08/07/27

(c)

280,370

300,000

4.375

03/22/28

289,641

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Banks

–

(continued)

Mitsubishi

UFJ

Financial

Group,

Inc.

(

Japan

)

(

US

1

Year

CMT

T-Note

+

1.950%

)

$

458,000

5.017

%

07/20/28

(c)

$

454,631

(

US

1

Year

CMT

T-Note

+

1.970%

)

400,000

5.406

04/19/34

(c)

402,460

Mizuho

Financial

Group,

Inc.

(

Japan

)

(

US

1

Year

CMT

T-Note

+

0.750%

)

200,000

1.554

07/09/27

(c)

183,758

400,000

3.170

09/11/27

374,776

NatWest

Group

PLC

(

United

Kingdom

)

(

US

5

Year

CMT

T-Note

+

2.350%

)

300,000

3.032

11/28/35

(c)

251,874

Royal

Bank

of

Canada

(

Canada

)

111,000

3.875

05/04/32

101,223

Royal

Bank

of

Canada

,

GMTN

(

Canada

)

126,000

5.200

07/20/26

125,707

172,000

2.300

11/03/31

141,158

Santander

UK

Group

Holdings

PLC

(

United

Kingdom

)

(

SOFR

+

1.475%

)

282,000

2.896

03/15/32

(c)

236,264

Sumitomo

Mitsui

Financial

Group,

Inc.

(

Japan

)

400,000

5.520

01/13/28

403,489

400,000

5.766

01/13/33

410,181

Svensk

Exportkredit

AB

,

GMTN

(

Sweden

)

200,000

0.375

07/30/24

198,425

200,000

0.625

05/14/25

191,343

UBS

AG

(

Switzerland

)

400,000

7.500

02/15/28

427,666

Westpac

Banking

Corp.

(

Australia

)

84,000

2.850

05/13/26

80,278

75,000

3.350

03/08/27

71,801

40,000

2.150

06/03/31

33,214

100,000

2.963

11/16/40

69,840

272,000

3.133

11/18/41

190,270

(

US

5

Year

CMT

T-Note

+

2.000%

)

10,000

4.110

07/24/34

(c)

9,234

(

US

5

Year

CMT

T-Note

+

1.530%

)

42,000

3.020

11/18/36

(c)

34,555

12,445,235

Brokerage

–

0.2%

Brookfield

Finance,

Inc.

(

Canada

)

300,000

4.350

04/15/30

283,728

15,000

3.500

03/30/51

10,317

Nomura

Holdings,

Inc.

(

Japan

)

300,000

5.709

01/09/26

300,162

594,207

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Capital

Goods

–

0.0%

Johnson

Controls

International

PLC

(

United

States

)

$

100,000

4.500

%

02/15/47

$

83,568

Communications

–

0.0%

RELX

Capital,

Inc.

(

United

Kingdom

)

100,000

3.000

05/22/30

88,902

Consumer

Cyclical

–

0.0%

Honda

Motor

Co.

Ltd.

(

Japan

)

110,000

2.534

03/10/27

102,841

Consumer

Noncyclical

–

0.1%

Ahold

Finance

USA

LLC

(

Netherlands

)

128,000

6.875

05/01/29

136,910

GlaxoSmithKline

Capital,

Inc.

(

United

Kingdom

)

84,000

6.375

05/15/38

92,716

Novartis

Capital

Corp.

(

Switzerland

)

126,000

2.000

02/14/27

117,187

Takeda

Pharmaceutical

Co.

Ltd.

(

Japan

)

250,000

2.050

03/31/30

209,913

556,726

Electric

–

0.0%

Emera  U.S.

Finance

LP

(

Canada

)

50,000

4.750

06/15/46

40,392

Energy

–

0.3%

Canadian

Natural

Resources

Ltd.

(

Canada

)

85,000

6.250

03/15/38

87,477

Canadian

Natural

Resources

Ltd.

,

GMTN

(

Canada

)

100,000

4.950

06/01/47

87,111

Cenovus

Energy,

Inc.

(

Canada

)

100,000

2.650

01/15/32

82,351

19,000

5.250

06/15/37

17,838

Enbridge,

Inc.

(

Canada

)

110,000

3.125

11/15/29

98,998

84,000

6.200

11/15/30

87,797

15,000

5.500

12/01/46

14,238

100,000

3.400

08/01/51

67,382

(

3M

U.S.

T-Bill

MMY

+

3.903%

)

15,000

6.250

03/01/78

(c)

14,306

TotalEnergies

Capital

International

SA

(

France

)

185,000

3.455

02/19/29

173,530

200,000

2.829

01/10/30

178,626

100,000

3.127

05/29/50

67,890

TransCanada

PipeLines

Ltd.

(

Canada

)

250,000

4.250

05/15/28

240,304

Transcanada

Trust

,

Series

16-A

(

Canada

)

(

3M

USD

LIBOR

+

4.640%

)

160,000

5.875

08/15/76

(c)

156,800

1,374,648

Financial

Company

–

0.1%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

(

Ireland

)

455,000

3.300

01/30/32

389,016

Food

and

Beverage

–

0.2%

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

(

Belgium

)

180,000

4.900

02/01/46

165,225

Anheuser-Busch

InBev

Finance,

Inc.

(

Belgium

)

55,000

4.700

02/01/36

51,945

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Food

and

Beverage

–

(continued)

Anheuser-Busch

InBev

Finance,

Inc.

(Belgium)

–

(continued)

$

100,000

4.900

%

02/01/46

$

90,507

Anheuser-Busch

InBev

Worldwide,

Inc.

(

Belgium

)

300,000

3.500

06/01/30

277,345

46,000

4.375

04/15/38

41,549

8,000

4.600

04/15/48

7,023

108,000

5.550

01/23/49

108,001

90,000

4.750

04/15/58

79,282

820,877

Forest

Products

&

Paper

–

0.1%

Suzano

Austria

GmbH

(

Brazil

)

200,000

6.000

01/15/29

198,144

Insurance

–

0.1%

Fairfax

Financial

Holdings

Ltd.

(

Canada

)

400,000

3.375

03/03/31

346,406

Internet

–

0.1%

JD.com,

Inc.

(

China

)

200,000

3.875

04/29/26

194,279

Lodging

–

0.1%

Sands

China

Ltd.

(

Macau

)

299,000

3.250

08/08/31

252,281

Media

–

0.0%

Grupo

Televisa

SAB

(

Mexico

)

100,000

6.625

03/18/25

100,372

Mining

–

0.0%

Southern

Copper

Corp.

(

Mexico

)

55,000

3.875

04/23/25

53,923

85,000

5.875

04/23/45

83,868

Teck

Resources

Ltd.

(

Canada

)

40,000

6.250

07/15/41

39,872

177,663

Multi-National

–

1.0%

Asian

Development

Bank

,

GMTN

(

Supranational

)

380,000

0.625

10/08/24

373,794

360,000

1.000

04/14/26

334,854

400,000

2.625

01/12/27

378,997

400,000

2.750

01/19/28

374,067

European

Investment

Bank

(

Supranational

)

400,000

0.375

03/26/26

369,078

400,000

3.875

03/15/28

389,134

Inter-American

Development

Bank

,

GMTN

(

Supranational

)

300,000

1.750

03/14/25

291,985

400,000

2.000

06/02/26

377,661

International

Bank

for

Reconstruction

&

Development

,

Series

GDIF

(

Supranational

)

400,000

2.500

07/29/25

388,292

International

Finance

Corp.

,

GMTN

(

Supranational

)

370,000

3.625

09/15/25

362,944

320,000

0.750

10/08/26

290,909

3,931,715

Oil

Company-Integrated

–

0.3%

Petroleos

Mexicanos

(

Mexico

)

170,000

6.875

08/04/26

165,275

100,000

5.350

02/12/28

89,255

235,000

5.950

01/28/31

190,697

229,000

10.000

02/07/33

230,756

70,000

6.375

01/23/45

45,868

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Foreign

Corporate

Debt

–

(continued)

Oil

Company-Integrated

–

(continued)

Petroleos

Mexicanos

(Mexico)

–

(continued)

$

140,000

6.950

%

01/28/60

$

93,147

QatarEnergy

(

Qatar

)

284,000

3.300

07/12/51

(e)

194,992

Saudi

Arabian

Oil

Co.

(

Saudi

Arabia

)

300,000

2.250

11/24/30

(e)

250,116

1,260,106

Pharmaceuticals

–

0.1%

Astrazeneca

Finance

LLC

(

United

Kingdom

)

118,000

2.250

05/28/31

99,430

400,000

5.000

02/26/34

395,673

495,103

Technology

–

0.1%

NXP

BV

/

NXP

Funding

LLC

(

China

)

40,000

5.350

03/01/26

39,847

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

(

China

)

102,000

3.400

05/01/30

92,459

129,000

2.500

05/11/31

107,725

83,000

5.000

01/15/33

80,866

320,897

Telecommunications

–

0.1%

America

Movil

SAB

de

CV

(

Mexico

)

280,000

3.625

04/22/29

260,142

200,000

2.875

05/07/30

175,493

435,635

Transportation

–

0.0%

Canadian

Pacific

Railway

Co.

(

Canada

)

192,000

2.450

12/02/31

174,059

Wirelines

–

0.1%

Deutsche

Telekom

International

Finance

BV

(

Germany

)

15,000

8.750

06/15/30

17,489

Orange

SA

(

France

)

82,000

9.000

03/01/31

98,355

Telefonica

Emisiones

SA

(

Spain

)

260,000

4.895

03/06/48

223,389

Telefonica

Europe

BV

(

Spain

)

50,000

8.250

09/15/30

56,504

395,737

TOTAL

FOREIGN

CORPORATE

DEBT

(Cost

$25,571,708)

24,778,809

a

Sovereign

Debt

Obligations

–

2.6%

Sovereign

–

2.6%

Abu

Dhabi

Government

International

Bond

282,000

2.125

09/30/24

(e)

278,338

200,000

2.500

04/16/25

(e)

194,727

200,000

1.625

06/02/28

(e)

175,943

200,000

2.700

09/02/70

(e)

112,401

Chile

Government

International

Bond

350,000

2.750

01/31/27

327,123

200,000

2.450

01/31/31

169,457

200,000

3.860

06/21/47

154,775

200,000

3.500

01/25/50

142,975

China

Government

International

Bond

200,000

0.750

10/26/24

(e)

196,360

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

–

(continued)

Sovereign

–

(continued)

Colombia

Government

International

Bond

$

200,000

3.875

%

04/25/27

$

187,275

200,000

4.500

03/15/29

181,500

100,000

6.125

01/18/41

83,942

220,000

5.000

06/15/45

154,984

Finance

Department

Government

of

Sharjah

300,000

4.000

07/28/50

(e)

193,293

Hungary

Government

International

Bond

300,000

6.125

05/22/28

(e)

305,751

Indonesia

Government

International

Bond

200,000

3.850

10/15/30

184,581

200,000

4.650

09/20/32

192,167

280,000

4.850

01/11/33

273,143

200,000

3.700

10/30/49

150,994

200,000

5.650

01/11/53

201,760

Israel

Government

International

Bond

200,000

4.500

01/17/33

180,125

Malaysia

Sovereign

Sukuk

Bhd

300,000

3.043

04/22/25

(e)

293,740

Mexico

Government

International

Bond

338,000

4.150

03/28/27

326,655

250,000

3.250

04/16/30

219,895

282,000

4.750

04/27/32

262,953

250,000

3.500

02/12/34

204,836

200,000

4.350

01/15/47

151,689

262,000

3.771

05/24/61

163,644

Panama

Government

International

Bond

192,000

6.700

01/26/36

185,280

244,000

4.500

04/01/56

157,990

200,000

4.500

01/19/63

127,500

Perusahaan

Penerbit

SBSN

Indonesia

III

350,000

4.550

03/29/26

(e)

346,938

200,000

2.800

06/23/30

(e)

175,333

200,000

2.550

06/09/31

(e)

168,117

Peruvian

Government

International

Bond

119,000

2.783

01/23/31

100,555

150,000

1.862

12/01/32

112,113

100,000

8.750

11/21/33

120,362

85,000

3.300

03/11/41

62,048

Philippine

Government

International

Bond

200,000

3.750

01/14/29

187,892

338,000

2.457

05/05/30

291,077

220,000

5.609

04/13/33

225,286

229,000

6.375

10/23/34

248,811

200,000

2.650

12/10/45

128,592

Province

of

Alberta

Canada

50,000

3.300

03/15/28

47,381

Province

of

Ontario

Canada

30,000

1.050

05/21/27

26,900

30,000

1.600

02/25/31

24,633

Province

of

Quebec

Canada

90,000

0.600

07/23/25

85,350

25,000

2.750

04/12/27

23,609

Qatar

Government

International

Bond

280,000

3.400

04/16/25

(e)

274,608

270,000

3.750

04/16/30

(e)

254,365

200,000

4.817

03/14/49

(e)

182,470

Republic

of

Poland

Government

International

Bond

30,000

3.250

04/06/26

29,113

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

**End

swaps

header**

Principal

Amount

Interest

Rate

Maturity

Date

Value

a

Sovereign

Debt

Obligations

–

(continued)

Sovereign

–

(continued)

Republic

of

Poland

Government

International

Bond

–

(continued)

$

100,000

5.750

%

11/16/32

$

103,303

Romanian

Government

International

Bond

16,000

3.000

02/14/31

(e)

13,273

108,000

5.125

06/15/48

(e)

90,845

Saudi

Government

International

Bond

300,000

2.900

10/22/25

(e)

289,773

300,000

4.750

01/18/28

(e)

296,462

326,000

4.875

07/18/33

(e)

316,878

300,000

5.000

01/18/53

(e)

262,976

Uruguay

Government

International

Bond

15,000

4.375

01/23/31

14,550

174,000

5.100

06/18/50

162,799

TOTAL

SOVEREIGN

DEBT

OBLIGATIONS

(Cost

$11,625,179)

10,802,208

a

U.S.

Government

Agency

Obligations

–

0.2%

Federal

Home

Loan

Banks

200,000

0.375

09/04/25

188,557

250,000

1.250

12/21/26

229,068

Federal

Home

Loan

Mortgage

Corp.

,

MTN

700,000

–

11/15/38

(d)

341,381

TOTAL

U.S.

GOVERNMENT

AGENCY

OBLIGATIONS

(Cost

$797,636)

759,006

a

U.S.

Treasury

Obligations

–

4.2%

a

U.S.

Treasury

Bonds

10,493,000

2.750

(a)

08/15/42

7,971,810

6,084,000

2.375

(a)

11/15/49

3,981,355

9,291,000

2.000

(a)

02/15/50

5,557,244

TOTAL

U.S.

TREASURY

OBLIGATIONS

(Cost

$21,200,192)

17,510,409

Shares

Dividend

Rate

Value

aa

a

Investment

Company

–

5.2%

(f)

Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

21,498,916

5.227%

$

21,498,916

(Cost

$21,498,916)

TOTAL

INVESTMENTS

–

107.1%

(Cost

$468,942,138)

$

445,314,847

LIABILITIES

IN

EXCESS

OF

OTHER

ASSETS

–

(7.1)%

(29,429,414)

NET

ASSETS

–

100.0%

$

415,885,433

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a)

Interest

rates

represent

either

the

stated

coupon

rate,

annualized

yield

on

date

of

purchase

for

discounted

securities,

or,

for

floating

rate

securities,

the

current

reset

rate,

which

is

based

upon

current

interest

rate

indices.

(b)

TBA

(To

Be

Announced)

Securities

are

purchased

on

a

forward

commitment

basis

with

an

approximate

principal

amount

and

no

defined

maturity

date.

The

actual

principal

and

maturity

date

will

be

determined

upon

settlement

when

the

specific

mortgage

pools

are

assigned.

Total

market

value

of

TBA

securities

(excluding

forward

sales

contracts,

if

any)

amounts

to

$38,090,781

which

represents

approximately

9.2%

of

the

Fund’s

net

assets

as

of

May

31,

2024.

(c)

Variable

rate

security.

Interest

rate

or

distribution

rate

disclosed

is

that

which

is

in

effect

on

May

31,

2024.

(d)

Issued

with

a

zero

coupon.

Income

is

recognized

through

the

accretion

of

discount.

(e)

Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

(f)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

CMT

—

Constant

Maturity

Treasury

Index

FNMA

—

Federal

National

Mortgage

Association

GMTN

—

Global

Medium

Term

Note

GNMA

—

Insured

by

Government

National

Mortgage

Association

LIBOR

—

London

Interbank

Offered

Rate

LP

—

Limited

Partnership

MMY

—

Money

Market

Yield

MTN

—

Medium

Term

Note

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

SOFR

—

Secured

Overnight

Financing

Rate

T-Bill

—

Treasury

Bill

FORWARD

SALES

CONTRACTS

—

At

May

31,

2024,

the

Fund

had

the

following

forward

sales

contracts:

Description

Interest

Rate

Maturity

Date

 (a)

Settlement

Date

Principal

Amount

Value

FNMA

2.000

%

TBA-15yr

06/01/39

$

(1,000,000)

$

(874,141)

FNMA

2.500

TBA-30yr

06/01/54

(11,000,000)

(8,880,781)

FNMA

4.500

TBA-30yr

06/01/54

(1,000,000)

(936,953)

FNMA

5.000

TBA-30yr

06/01/54

(2,000,000)

(1,926,250)

GOLDMAN

SACHS

ACCESS

U.S.

AGGREGATE

BOND

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Description

Interest

Rate

Maturity

Date

 (a)

Settlement

Date

Principal

Amount

Value

GNMA

2.500

%

TBA-30yr

06/20/54

$

(1,000,000)

$

(832,578)

Total

(Proceed

Receivable

$13,508,945)

$

(13,450,703)

TBA

(To

Be

Announced)

Securities

are

purchased

on

a

forward

commitment

basis

with

an

approximate

principal

amount

and

no

defined

maturity

date.

The

actual

principal

and

maturity

date

will

be

determined

upon

settlement

when

the

specific

mortgage

pools

are

assigned.

Additional

Investment

Information 

(

continued

)

**End

swaps

header**

(continued)

Goldman

Sachs

Access

Fixed

Income

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

—

The

fair

value

of

a

financial

instrument

is

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price).

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

to

valuation

techniques

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

The

levels

used

for

classifying

investments

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

these

investments.

The

three

levels

of

the

fair

value

hierarchy

are

described

below:

Level

1

—

Unadjusted

quoted

prices

in

active

markets

that

are

accessible

at

the

measurement

date

for

identical,

unrestricted

assets

or

liabilities;

Level

2

—

Quoted

prices

in

markets

that

are

not

active

or

financial

instruments

for

which

significant

inputs

are

observable

(including,

but

not

limited

to,

quoted

prices

for

similar

investments,

interest

rates,

foreign

exchange

rates,

volatility

and

credit

spreads),

either

directly

or

indirectly;

Level

3

—

Prices

or

valuations

that

require

significant

unobservable

inputs

(including

GSAM’s

assumptions

in

determining

fair

value

measurement).

The

Board

of

Trustees

(“Trustees”)

has

approved

Valuation

Procedures

that

govern

the

valuation

of

the

portfolio

investments

held

by

the

Funds,

including

investments

for

which

market

quotations

are

not

readily

available.

With

respect

to

a

Fund’s

investments

that

do

not

have

readily

available

market

quotations,

the

Trustees

have

designated

the

Advisor

as

the

valuation

designee

to

perform

fair

valuations

pursuant

to

Rule

2a-5

under

the

Act

(the

“Valuation

Designee”.)

GSAM

has

day-to-day

responsibility

for

implementing

and

maintaining

internal

controls

and

procedures

related

to

the

valuation

of

the

Funds’

portfolio

investments.

To

assess

the

continuing

appropriateness

of

pricing

sources

and

methodologies,

GSAM

regularly

performs

price

verification

procedures

and

issues

challenges

as

necessary

to

third

party

pricing

vendors

or

brokers,

and

any

differences

are

reviewed

in

accordance

with

the

Valuation

Procedures.

Level

1

and

Level

2

Fair

Value

Investments

—

The

valuation

techniques

and

significant

inputs

used

in

determining

the

fair

values

for

investments

classified

as

Level

1

and

Level

2

are

as

follows:

Debt

Securities

—

Debt

securities

for

which

market

quotations

are

readily

available

are

valued

daily

on

the

basis

of

quotations

supplied

by

dealers

or

an

independent

pricing

service.

The

pricing

services

may

use

valuation

models

or

matrix

pricing,

which

consider:

(i)

yield

or

price

with

respect

to

bonds

that

are

considered

comparable

in

characteristics

such

as

rating,

interest

rate

and

maturity

date

or

(ii)

quotations

from

securities

dealers

to

determine

current

value.

With

the

exception

of

treasury

securities

of

G7

countries,

which

are

generally

classified

as

Level

1,

these

investments

are

generally

classified

as

Level

2

of

the

fair

value

hierarchy.

i.

Commercial

Paper

—

Commercial

paper

normally

represents

short-term

unsecured

promissory

notes

issued

in

bearer

form

by

banks

or

bank

holding

companies,

corporations,

finance

companies

and

other

issuers.

Commercial

paper

consists

of

direct

U.S.

dollar-

denominated

obligations

of

domestic

or

foreign

issuers.

Asset-backed

commercial

paper

is

issued

by

a

special

purpose

entity

that

is

organized

to

issue

the

commercial

paper

and

to

purchase

trade

receivables

or

other

financial

assets.

ii.

Mortgage-Backed

and

Asset-Backed

Securities

—

Mortgage-backed

securities

represent

direct

or

indirect

participations

in,

or

are

collateralized

by

and

payable

from,

mortgage

loans

secured

by

residential

and/or

commercial

real

estate

property.

Asset-backed

securities

include

securities

whose

principal

and

interest

payments

are

collateralized

by

pools

of

other

assets

or

receivables.

The

value

of

certain

mortgage-backed

and

asset-backed

securities

(including

adjustable

rate

mortgage

loans)

may

be

particularly

sensitive

to

changes

in

prevailing

interest

rates.

The

value

of

these

securities

may

also

fluctuate

in

response

to

the

market’s

perception

of

the

creditworthiness

of

the

issuers.

Asset-backed

securities

may

present

credit

risks

that

are

not

presented

by

mortgage-backed

securities

because

they

generally

do

not

have

the

benefit

of

a

security

interest

in

collateral

that

is

comparable

to

mortgage

assets.

Some

asset-backed

securities

may

only

have

a

subordinated

claim

on

collateral.

Goldman

Sachs

Access

Fixed

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Stripped

mortgage-backed

securities

are

usually

structured

with

two

different

classes:

one

that

receives

substantially

all

interest

payments

(interest-only,

or

“IO”

and/or

high

coupon

rate

with

relatively

low

principal

amount,

or

“IOette”),

and

the

other

that

receives

substantially

all

principal

payments

(principal-only,

or

“PO”)

from

a

pool

of

mortgage

loans.

Little

to

no

principal

will

be

received

at

the

maturity

of

an

IO;

as

a

result,

periodic

adjustments

are

recorded

to

reduce

the

cost

of

the

security

until

maturity.

These

adjustments

are

included

in

interest

income.

iii.

Treasury

Inflation

Protected

Securities

—

TIPS

are

treasury

securities

in

which

the

principal

amount

is

adjusted

daily

to

keep

pace

with

inflation,

as

measured

by

the

U.S.

Consumer

Pricing

Index

for

Urban

Consumers.

The

repayment

of

the

original

bond

principal

upon

maturity

is

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

Government.

iv.

When-Issued

Securities

and

Forward

Commitments

—

When-issued

securities,

including

TBA

(“To

Be

Announced”)

securities,

are

securities

that

are

authorized

but

not

yet

issued

in

the

market

and

purchased

in

order

to

secure

what

is

considered

to

be

an

advantageous

price

or

yield

to

a

Fund.

A

forward

commitment

involves

entering

into

a

contract

to

purchase

or

sell

securities,

typically

on

an

extended

settlement

basis,

for

a

fixed

price

at

a

future

date.

The

purchase

of

securities

on

a

when-issued

or

forward

commitment

basis

involves

a

risk

of

loss

if

the

value

of

the

security

to

be

purchased

declines

before

the

settlement

date.

Conversely,

the

sale

of

securities

on

a

forward

commitment

basis

involves

the

risk

that

the

value

of

the

securities

sold

may

increase

before

the

settlement

date.

Although

a

Fund

will

generally

purchase

securities

on

a

when-issued

or

forward

commitment

basis

with

the

intention

of

acquiring

the

securities

for

its

portfolio,

the

Fund

may

dispose

of

when-issued

securities

or

forward

commitments

prior

to

settlement,

which

may

result

in

a

realized

gain

or

loss.

Money

Market

Funds

—

Investments

in

the

Goldman

Sachs

Financial

Square

Government

Fund

(“Underlying

Money

Market

Fund”)

are

valued

at

the

NAV

per

share

of

the

Institutional

Share

class

on

the

day

of

valuation.

These

investments

are

generally

classified

as

Level

1

of

the

fair

value

hierarchy.

For

information

regarding

the

Underlying

Money

Market

Fund’s

accounting

policies

and

investment

holdings,

please

see

the

Underlying

Money

Market

Fund’s

shareholder

report.

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:

Access

Emerging

Markets

USD

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Corporate

Obligations

$

—

$

7,751,430

$

—

Sovereign

Debt

Obligations

—

49,993,817

—

Investment

Company

116,933

—

—

Total

$

116,933

$

57,745,247

$

—

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Access

Fixed

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

€

1.00

€

1.00

€

1.00

Access

High

Yield

Corporate

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Corporate

Obligations

$

—

$

140,637,030

$

—

Foreign

Corporate

Debt

—

8,500,478

—

Investment

Company

1,752,062

—

—

Total

$

1,752,062

$

149,137,508

$

—

€

1.00

€

1.00

€

1.00

Access

Inflation

Protected

USD

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

U.S.

Treasury

Inflation

Indexed

Bond

$

120,819,385

$

—

$

—

Investment

Company

475,624

—

—

Total

$

121,295,009

$

—

$

—

€

1.00

€

1.00

€

1.00

Access

Investment

Grade

Corporate

1-5

Year

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Corporate

Obligations

$

—

$

7,710,145

$

—

Foreign

Corporate

Debt

—

1,431,982

—

Total

$

—

$

9,142,127

$

—

€

1.00

€

1.00

€

1.00

Access

Investment

Grade

Corporate

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Corporate

Obligations

$

—

$

644,562,463

$

—

Foreign

Corporate

Debt

—

142,799,522

—

Investment

Company

4,800,912

—

—

Total

$

4,800,912

$

787,361,985

$

—

€

1.00

€

1.00

€

1.00

Access

Treasury

0-1

Year

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

$

102,684,353

$

—

$

—

U.S.

Treasury

Bills

4,606,635,939

—

—

U.S.

Treasury

Notes

567,777,780

—

—

Total

$

5,277,098,072

$

—

$

—

€

1.00

€

1.00

€

1.00

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Access

Fixed

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

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.

Index

Risk

(each

Fund

except

Goldman

Sachs

Access

Ultra

Short

Bond

ETF)

—

FTSE

Fixed

Income

LLC

(the

“Index

Provider”)

constructs

each

Fund’s

Index

in

accordance

with

a

rules-based

methodology.

A

Fund

will

be

negatively

affected

by

general

declines

in

the

securities

and

asset

classes

represented

in

its

Index.

In

addition,

because

the

Funds

are

not

“actively”

managed,

unless

a

specific

security

is

removed

from

an

Index,

a

Fund

generally

would

not

sell

a

security

because

the

security’s

issuer

was

in

financial

trouble.

Market

disruptions

and

regulatory

restrictions

could

have

an

adverse

effect

on

a

Fund’s

ability

to

adjust

its

exposure

to

the

required

levels

in

order

to

track

the

Index.

A

Fund

also

does

not

attempt

to

take

defensive

positions

under

any

market

conditions,

including

declining

markets.

Therefore,

a

Fund’s

performance

could

be

lower

than

funds

that

may

actively

shift

their

portfolio

assets

Derivative

Type

Access

Ultra

Short

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Asset-Backed

Securities

$

—

$

182,540,215

$

—

Certificate

of

Deposit

—

20,199,683

—

Corporate

Obligations

—

99,843,572

—

Foreign

Corporate

Debt

—

113,865,788

—

Mortgage-Backed

Securities

—

116,835,921

—

U.S.

Government

Agency

Obligations

—

112,099

—

U.S.

Treasury

Notes

27,503,326

—

—

Short-Term

Investment

2,988,796

27,631,132

—

Investment

Company

1,296,855

—

—

Total

$

31,788,977

$

561,028,410

$

—

€

1.00

€

1.00

€

1.00

Access

U.S.

Aggregate

Bond

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Fixed

Income

Corporate

Obligations

$

—

$

89,068,146

$

—

Foreign

Corporate

Debt

—

24,778,809

—

Mortgage-Backed

Securities

—

110,657,803

—

Sovereign

Debt

Obligations

207,873

10,594,335

—

U.S.

Government

Agency

Obligations

—

759,006

—

U.S.

Treasury

Bonds

42,529,815

—

—

U.S.

Treasury

Notes

127,709,735

—

—

U.S.

Treasury

Obligations

17,510,409

—

—

Investment

Company

21,498,916

—

—

Total

$

209,456,748

$

235,858,099

$

—

Liabilities

Fixed

Income

Forward

Sales

Contracts

$

—

$

(13,450,703)

$

—

€

1.00

€

1.00

€

1.00

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Access

Fixed

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

to

take

advantage

of

market

opportunities

or

to

lessen

the

impact

of

a

market

decline

or

a

decline

in

the

value

of

one

or

more

issuers.

When

the

Index

is

rebalanced

and

a

Fund

in

turn

rebalances

its

portfolio

to

attempt

to

increase

the

correlation

between

the

Fund’s

portfolio

and

the

Index,

any

transaction

costs

and

market

exposure

arising

from

such

portfolio

rebalancing

may

be

borne

directly

by

the

Fund

and

its

shareholders.

The

FTSE

Goldman

Sachs

Emerging

Markets

USD

Bond

Index

is

new

and

has

limited

performance

history.

Errors

in

index

data,

index

computation

or

the

construction

of

an

Index

in

accordance

with

its

methodology

may

occur

from

time

to

time

and

may

not

be

identified

and

corrected

by

the

Index

Provider

for

a

period

of

time

or

at

all,

which

may

have

a

adverse

impact

on

the

applicable

Fund

and

its

shareholders.

In

addition,

neither

a

Fund,

the

Investment

Adviser

nor

the

Index

Provider

can

guarantee

the

availability

or

timeliness

of

the

production

of

the

Index.

Industry

Concentration

Risk

—

In

following

its

methodology,

the

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

the

Index

concentrates

in

the

securities

of

issuers

in

a

particular

industry

or

group

of

industries,

the

Fund

also

may

concentrate

its

investments

to

approximately

the

same

extent.

By

concentrating

its

investments

in

an

industry

or

group

of

industries,

the

Fund

may

face

more

risks

than

if

it

were

diversified

broadly

over

numerous

industries

or

groups

of

industries.

If

the

Index

is

not

concentrated

in

a

particular

industry

or

group

of

industries,

the

Fund

will

not

concentrate

in

a

particular

industry

or

group

of

industries.

Interest

Rate

Risk

—

When

interest

rates

increase,

fixed

income

securities

or

instruments

held

by

a

Fund

will

generally

decline

in

value.

A

Fund

may

face

a

heightened

level

of

interest

rate

risk

in

connection

with

the

type

and

extent

of

certain

monetary

policy

changes

made

by

the

Federal

Reserve,

such

as

target

interest

rate

changes.

Long-term

fixed

income

securities

or

instruments

will

normally

have

more

price

volatility

because

of

this

risk

than

short

term

fixed

income

securities

or

instruments.

A

wide

variety

of

market

factors

can

cause

interest

rates

to

rise,

including

central

bank

monetary

policy,

rising

inflation

and

changes

in

general

economic

conditions.

The

risks

associated

with

changing

interest

rates

may

have

unpredictable

effects

on

the

markets

and

a

Fund’s

investments.

Fluctuations

in

interest

rates

may

also

affect

the

liquidity

of

fixed

income

securities

and

instruments

held

by

the

Funds.

A

sudden

or

unpredictable

increase

in

interest

rates

may

cause

volatility

in

the

market

and

may

decrease

the

liquidity

of

the

Fund’s

investments,

which

would

make

it

harder

for

the

Fund

to

sell

its

investments

at

an

advantageous

time.

Large

Shareholder

Transactions

Risk

—

A

Fund

may

experience

adverse

effects

when

certain

large

shareholders,

such

as

other

funds,

institutional

investors

(including

those

trading

by

use

of

non-discretionary

mathematical

formulas),

financial

intermediaries

(who

may

make

investment

decisions

on

behalf

of

underlying

clients

and/or

include

a

Fund

in

their

investment

model),

individuals,

accounts

and

Goldman

Sachs

affiliates,

purchase

or

redeem

large

amounts

of

shares

of

a

Fund.

Such

large

shareholder

redemptions,

which

may

occur

rapidly

or

unexpectedly,

may

cause

a

Fund

to

sell

portfolio

securities

at

times

when

it

would

not

otherwise

do

so,

which

may

negatively

impact

a

Fund’s

NAV

and

liquidity.

These

transactions

may

also

accelerate

the

realization

of

taxable

income

to

shareholders

if

such

sales

of

investments

resulted

in

gains,

and

may

also

increase

transaction

costs.

In

addition,

a

large

redemption

could

result

in

a

Fund’s

current

expenses

being

allocated

over

a

smaller

asset

base,

leading

to

an

increase

in

the

Fund’s

expense

ratio.

Similarly,

large

Fund

share

purchases

may

adversely

affect

a

Fund’s

performance

to

the

extent

that

the

Fund

is

delayed

in

investing

new

cash

or

otherwise

maintains

a

larger

cash

position

than

it

ordinarily

would.

Liquidity

Risk

—

A

Fund

may

make

investments

that

are

illiquid

or

that

may

become

less

liquid

in

response

to

market

developments

or

adverse

investor

perceptions.

Illiquid

investments

may

be

more

difficult

to

value.

Liquidity

risk

may

also

refer

to

the

risk

that

a

Fund

will

not

be

able

to

pay

redemption

proceeds

within

the

allowable

time

period

or

without

significant

dilution

to

remaining

investors’

interests

because

of

unusual

market

conditions,

an

unusually

high

volume

of

redemption

requests,

or

other

reasons.

To

meet

redemption

requests,

a

Fund

may

be

forced

to

sell

investments

at

an

unfavorable

time

and/or

under

unfavorable

conditions.

If

a

Fund

is

forced

to

sell

securities

at

an

unfavorable

time

and/or

under

unfavorable

conditions,

such

sales

may

adversely

affect

the

Fund’s

NAV

and

dilute

remaining

investors’

interests.

Liquidity

risk

may

be

the

result

of,

among

other

things,

the

reduced

number

and

capacity

of

traditional

market

participants

to

make

a

market

in

fixed

income

securities

or

the

lack

of

an

active

market.

The

potential

for

liquidity

risk

may

be

magnified

by

a

rising

interest

rate

environment

or

other

circumstances

where

investor

redemptions

from

fixed

income

funds

may

be

higher

than

normal,

potentially

causing

increased

supply

in

the

market

due

to

selling

activity.

These

risks

may

be

more

pronounced

in

connection

with

a

Fund’s

investments

in

securities

of

issuers

located

in

emerging

market

countries.

Redemptions

by

large

shareholders

may

have

a

negative

impact

on

a

Fund’s

liquidity.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Access

Fixed

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Market

and

Credit

Risks

—

In

the

normal

course

of

business,

a

Fund

trades

financial

instruments

and

enters

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk).

The

value

of

the

securities

in

which

a

Fund

invests

may

go

up

or

down

in

response

to

the

prospects

of

individual

companies,

particular

sectors

or

governments

and/or

general

economic

conditions

throughout

the

world

due

to

increasingly

interconnected

global

economies

and

financial

markets.

Events

such

as

war,

acts

of

terrorism,

social

unrest,

natural

disasters,

the

spread

of

infectious

illness

or

other

public

health

threats

could

also

significantly

impact

a

Fund

and

its

investments.

Additionally,

a

Fund

may

also

be

exposed

to

credit

risk

in

the

event

that

an

issuer

or

guarantor

fails

to

perform

or

that

an

institution

or

entity

with

which

the

Fund

has

unsettled

or

open

transactions

defaults.

Market

Trading

Risk

—

Each

Fund

faces

numerous

market

trading

risks,

including

disruptions

to

creations

and

redemptions,

the

existence

of

extreme

market

volatility

or

potential

lack

of

an

active

trading

market

for

Shares.

If

a

shareholder

purchases

Shares

at

a

time

when

the

market

price

is

at

a

premium

to

the

NAV

or

sells

Shares

at

a

time

when

the

market

price

is

at

a

discount

to

the

NAV,

the

shareholder

may

sustain

losses.

The

Investment

Adviser

cannot

predict

whether

Shares

will

trade

below,

at

or

above

their

NAV.

Price

differences

may

be

due,

in

large

part,

to

the

fact

that

supply

and

demand

forces

at

work

in

the

secondary

trading

market

for

Shares

will

be

closely

related

to,

but

not

identical

to,

the

same

forces

influencing

the

prices

of

the

securities

of

a

Fund’s

Index

(except

the

Access

Ultra

Short

Bond

ETF)

trading

individually

or

in

the

aggregate

at

any

point

in

time.

Sampling

Risk

—

The

Fund’s

use

of

a

representative

sampling

approach

will

result

in

its

holding

a

smaller

number

of

securities

than

are

in

the

Index.

As

a

result,

an

adverse

development

respecting

a

security

held

by

the

Fund

could

result

in

a

greater

decline

in

NAV

than

would

be

the

case

if

the

Fund

held

all

of

the

securities

in

the

Index.

Conversely,

a

positive

development

relating

to

a

security

in

the

Index

that

is

not

held

by

the

Fund

could

cause

the

Fund

to

underperform

the

Index.

To

the

extent

the

assets

in

the

Fund

are

smaller,

these

risks

will

be

greater.

Tracking

Error

Risk

(each

Fund

except

the

Access

Ultra

Short

Bond

ETF)

—

Tracking

error

is

the

divergence

of

a

Fund’s

performance

from

that

of

its

Index.

The

performance

of

a

Fund

may

diverge

from

that

of

its

Index

for

a

number

of

reasons.

Tracking

error

may

occur

because

of

transaction

costs,

a

Fund’s

holding

of

cash,

differences

in

accrual

of

dividends,

changes

to

its

Index

or

the

need

to

meet

new

or

existing

regulatory

requirements.

Unlike

a

Fund,

the

returns

of

an

Index

are

not

reduced

by

investment

and

other

operating

expenses,

including

the

trading

costs

associated

with

implementing

changes

to

its

portfolio

of

investments.

Tracking

error

risk

may

be

heightened

during

times

of

market

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)