BNY Mellon Core Bond ETF (BKAG) N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number            811-23477                  

                                    BNY Mellon ETF Trust                                 
(Exact name of registrant as specified in charter)

240 Greenwich Street

                        New York, New York 10286                         
(Address of principal executive offices) (Zip code)

Bennett A. MacDougall, Esq.

240 Greenwich Street

                        New York, New York 10286                         

(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 922-6400

Date of fiscal year end:  October 31

Date of reporting period:  April 30, 2021

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission,

100 F Street, NE

, Washington, DC 20549

. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

(a)The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).

BNY

Mellon

ETF

Trust

SEMIANNUAL

REPORT

April

30,

2021

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Contents

The

Funds

Discussion

of

Funds’

Performance

3

Understanding

Your

Fund’s

Expenses

19

Statements

of

Investments

20

Statements

of

Assets

and

Liabilities

101

Statements

of

Operations

104

Statements

of

Changes

in

Net

Assets

107

Financial

Highlights

111

Notes

to

Financial

Statements

119

FOR

MORE

INFORMATION

Back

Cover

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time.

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paper.

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few

minutes.

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

funds’

portfolios

are

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

3

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

through

April

30,

2021,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ending

April

30,

2021,

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

produced

a

total

return

of

27.50%.

1

In

comparison,

the

Morningstar

®

US

Large

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

returned

27.57%

for

the

same

period.

2

Large-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence,

the

implementation

of

a

COVID-19

vaccine

rollout

and

impending

economic

reopening.

The

difference

in

returns

between

the

fund

and

the

Index

during

the

reporting

period

was

primarily

the

result

of

transaction

costs

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

US

Large

Cap

Index

SM

.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

U.S.

large-

capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

Index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

top

70%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

Stimulus

and

Optimism

Supports

Equity

Rally

After

a

bout

of

fall

volatility,

investor

sentiment

turned

optimistic

in

November

2020.

Resolution

in

the

U.S.

presidential

election

and

promising

progress

towards

a

COVID-19

vaccine

helped

stocks

resurrect

their

upward

momentum.

December

2020

brought

vaccine

approvals

and

passage

of

another

U.S.

fiscal

stimulus

package,

both

of

which

helped

to

support

the

rally.

Ten-year

U.S.

Treasury

rates

began

to

rise

as

market

participants

anticipated

the

beginning

of

a

strong

global

economic

recovery.

A

strong

rotation

began

out

of

companies

that

were

able

to

benefit

in

the

COVID-19

economy,

such

as

technology

and

growth

stocks.

Investors

began

to

support

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

As

the

equity

rally

continued

and

sentiment

strengthened,

global

bond

yields

rose

and

investors

pulled

back

in

March

2021.

Economic

centers

of

Europe

such

as

Italy,

France

and

Spain

reinstituted

lockdown

measures

as

COVID-19

cases

once

again

began

to

surge.

During

the

month,

the

U.S.

government

passed

another

COVID-19

relief

bill.

The

Biden

administration

also

began

to

lay

the

groundwork

for

an

infrastructure

plan.

Investor

concerns

were

mollified

as

earnings

season

brought

positive

financial

news

from

reporting

companies.

The

equity

rally

continued

in

April.

Stocks

produced

strong

results

for

the

six

months.

Information

Technology

Stocks

Lead

the

Market

The

information

technology

sector

was

among

the

leading

contributors

to

returns

during

the

period.

During

a

time

when

people

were

still

mostly

at

home,

companies

that

produce

products

and

services

that

support

or

facilitate

working

from

home,

online

payments

and

gaming

were

among

the

strongest

performers.

Semiconductor

and

chip

manufacturers,

software

companies,

financial

technology

companies

and

cybersecurity

companies

all

saw

heavy

demand

for

their

products

and

services.

The

financial

sector

was

also

a

leading

performer.

An

improvement

in

the

stock

prices

of

banks

supported

sector

returns.

As

interest

rates

increase,

banks

are

able

to

make

more

money

on

lending

products,

which

increases

their

profitability.

Banks

are

also

well

capitalized

due

to

regulations

put

in

place

after

the

2008

financial

crisis.

The

communication

services

sector

was

also

a

leading

contributor

to

results.

Companies

such

as

Facebook

and

Alphabet,

which

have

seen

increased

usage

since

the

start

of

the

pandemic,

drove

returns.

In

a

period

of

such

strong

equity

returns,

few

sectors

lagged

the

broader

market.

The

consumer

staples

sector

faced

a

headwind

from

household

products

companies.

People

stockpiled

cleaning

supplies

at

the

start

of

the

pandemic,

so

demand

fell

during

the

six-month

reporting

period

since

people

already

had

these

products

on

hand.

The

utilities

sector

was

also

a

laggard.

It

is

typically

viewed

as

more

defensive

in

nature,

which

was

out

of

favor

during

the

period.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

We

expect

the

vaccine

rollout

and

resulting

economic

reopening

to

support

markets

as

well.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

4

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

May

17,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Large

Cap

Index

SM

is

a

float-

adjusted,

market-

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

large-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

top

70%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

5

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

through

April

30,

2021,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

produced

a

total

return

of

34.25%.

1

In

comparison,

the

Morningstar

®

US

Mid

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

produced

a

total

return

of

34.64%

for

the

same

period.

2,3

Mid-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence,

the

implementation

of

a

COVID-19

vaccine

rollout

and

impending

economic

reopening.

The

difference

in

returns

between

the

fund

and

the

Index

during

the

reporting

period

was

primarily

the

result

of

transaction

costs

and

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

US

Mid

Cap

Index

SM

.

The

Index

is

a

float-adjusted,

market

capitalization-weighted

index

designed

to

measure

the

performance

of

U.S.

medium-

capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

Index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

falls

approximately

between

the

bottom

10%-30%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

Stimulus

and

Optimism

Supports

Equity

Rally

After

a

bout

of

fall

volatility,

investor

sentiment

turned

optimistic

in

November

2020.

Resolution

in

the

U.S.

presidential

election

and

promising

progress

towards

a

COVID-19

vaccine

helped

stocks

resurrect

their

upward

momentum.

December

2020

brought

vaccine

approvals

and

passage

of

another

U.S.

fiscal

stimulus

package,

both

of

which

helped

to

support

the

rally.

Ten-year

U.S.

Treasury

rates

began

to

rise

as

market

participants

anticipated

the

beginning

of

a

strong

global

economic

recovery.

A

strong

rotation

began

out

of

companies

that

were

able

to

benefit

in

the

COVID-19

economy,

such

as

technology

and

growth

stocks.

Investors

began

to

support

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

As

the

equity

rally

continued

and

sentiment

strengthened,

global

bond

yields

rose

and

investors

pulled

back

in

March

2021.

Economic

centers

of

Europe

such

as

Italy,

France

and

Spain

reinstituted

lockdown

measures

as

COVID-19

cases

once

again

began

to

surge.

During

the

month,

the

U.S.

government

passed

another

COVID-19

relief

bill.

The

Biden

administration

also

began

to

lay

the

groundwork

for

an

infrastructure

plan.

Investor

concerns

were

mollified

as

earnings

season

brought

positive

financial

news

from

reporting

companies.

The

equity

rally

continued

in

April.

Stocks

produced

strong

results

for

the

six

months.

Strong

Performance

from

Industrials

Companies

During

the

six

months,

demand

surged

for

products

provided

by

industrials

companies.

Supply

chain

and

production

difficulties

that

existed

in

the

beginning

of

the

pandemic

have

since

been

remedied,

causing

a

backlog

of

demand.

This

backlog

has

also

given

increased

pricing

power

to

manufacturers,

allowing

them

to

raise

prices.

Future

earnings

reports

for

these

companies

are

expected

to

be

high

due

to

these

factors.

In

addition,

the

renewed

emphasis

on

“green

initiatives”

from

global

governments

and

anticipated

U.S.

infrastructure

spending

is

raising

the

outlook

for

the

sector.

The

machinery

and

building

products

industries

were

among

the

leading

performers

for

the

period.

The

consumer

discretionary

sector

was

also

a

strong

contributor.

The

prospect

of

economic

reopening

led

companies

in

the

hotels,

restaurants

and

leisure

industry

to

outperform

the

broader

market.

Specialty

retail

has

also

seen

a

boost

due

to

increased

consumer

spending

and

shoppers

once

again

visiting

bricks-and-mortar

stores.

The

financials

sector

benefited

from

rising

rates

and

an

increased

demand

for

lending

products.

Bank

deposits

and

brokerage

account

balances

have

also

increased.

Retirement

benefit

companies

are

seeing

a

boost

from

an

aging

population.

Banks

are

also

well

capitalized

due

to

regulations

put

in

place

during

the

2008

financial

crisis.

During

a

period

of

such

strong

returns,

some

sectors

did

lag

the

broader

market.

The

health

care

sector

was

one

of

the

weakest

performers,

although

it

was

still

up

over

20%.

The

utilities

sector

also

trailed.

Its

label

as

a

defensive

sector

worked

against

it

during

the

period,

as

defensive

sectors

were

not

in

favor.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

6

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

We

expect

the

vaccine

rollout

and

resulting

economic

reopening

to

support

markets

as

well.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

17,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Mid

Cap

Index

SM

is

a

float-adjusted,

market

capitalization-weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

mid-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

falls

approximately

between

the

bottom

10%-30%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

The

prices

of

mid-cap

company

stocks

tend

to

be

more

volatile

than

the

prices

of

large

company

stocks,

mainly

because

these

companies

have

less

established

and

more

volatile

earnings

histories.

They

also

tend

to

be

less

liquid

than

larger

company

stocks.

7

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

through

April

30,

2021,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

the

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

produced

a

total

return

of

45.70%.

1

In

comparison,

the

Morningstar

®

US

Small

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

produced

a

46.09%

total

return

for

the

same

period.

2,3

Small-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence,

the

implementation

of

a

COVID-19

vaccine

rollout

and

impending

economic

reopening.

The

difference

in

returns

between

the

fund

and

the

Index

during

the

reporting

period

was

primarily

the

result

of

transaction

costs

and

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

US

Small

Cap

Index

SM

.

The

Index

is

a

float-adjusted,

market

capitalization-weighted

index

designed

to

measure

the

performance

of

U.S.

small-

capitalization

stocks.

The

index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

Index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

bottom

3%-10%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

Stimulus

and

Optimism

Supports

Equity

Rally

After

a

bout

of

fall

volatility,

investor

sentiment

turned

optimistic

in

November

2020.

Resolution

in

the

U.S.

presidential

election

and

promising

progress

towards

a

COVID-19

vaccine

helped

stocks

resurrect

their

upward

momentum.

December

2020

brought

vaccine

approvals

and

passage

of

another

U.S.

fiscal

stimulus

package,

both

of

which

helped

to

support

the

rally.

Ten-year

U.S.

Treasury

rates

began

to

rise

as

market

participants

anticipated

the

beginning

of

a

strong

global

economic

recovery.

A

strong

rotation

began

out

of

companies

that

were

able

to

benefit

in

the

COVID-19

economy,

such

as

technology

and

growth

stocks.

Investors

began

to

support

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

As

the

equity

rally

continued

and

sentiment

strengthened,

global

bond

yields

rose,

and

investors

pulled

back

in

March

2021.

Economic

centers

of

Europe

such

as

Italy,

France

and

Spain

reinstituted

lockdown

measures

as

COVID-19

cases

once

again

began

to

surge.

During

the

month,

the

U.S.

government

passed

another

COVID-19

relief

bill.

The

Biden

administration

also

began

to

lay

the

groundwork

for

an

infrastructure

plan.

Investor

concerns

were

mollified

as

earnings

season

brought

positive

financial

news

from

reporting

companies.

The

equity

rally

continued

in

April.

Stocks

produced

strong

results

for

the

six

months.

Strong

Performance

from

Industrials

Companies

During

the

six

months,

demand

surged

for

products

provided

by

industrials

companies.

Supply

chain

and

production

difficulties

that

existed

in

the

beginning

of

the

pandemic

have

since

been

remedied,

causing

a

backlog

of

demand.

This

backlog

has

also

given

increased

pricing

power

to

manufacturers,

allowing

them

to

raise

prices.

Future

earnings

reports

for

these

companies

are

expected

to

be

high

due

to

these

factors.

In

addition,

the

renewed

emphasis

on

“green

initiatives”

from

global

governments

and

anticipated

U.S.

infrastructure

spending

is

also

raising

the

outlook

for

the

sector.

The

building

products,

transportation

and

air

freight

industries

were

among

the

leading

performers

for

the

period.

The

industrials

sector

is

sensitive

to

economic

cycles,

and

the

prospect

of

economic

reopening

is

providing

a

tailwind

to

stock

prices.

The

anticipated

increase

in

global

trade

in

the

coming

year

is

also

working

to

support

valuations.

The

financials

sector

was

another

strong

performer

and

benefited

from

rising

rates

and

an

increased

demand

for

lending

products.

Bank

deposits

and

brokerage

account

balances

have

also

increased.

Banks

are

also

well

capitalized

due

to

regulations

put

in

place

during

the

2008

financial

crisis.

Within

information

technology,

the

switch

to

5G

technology

is

stoking

demand

for

chips.

It

is

worth

mentioning

that

the

energy

sector

appreciated

considerably

during

the

period,

but

it

is

a

very

small

portion

of

the

Index,

so

it

was

not

a

significant

driver

of

Index

returns.

During

a

period

of

such

strong

returns,

some

sectors

did

lag

the

broader

market.

The

consumer

staples

sector

was

one

of

the

weakest

performers.

The

household

products

industry

provided

the

largest

headwind.

Consumers

stockpiled

items

such

as

cleaning

products

at

the

outset

of

the

pandemic,

leading

to

decreased

demand

during

the

recent

six-month

period.

The

utilities

sector

also

trailed.

Its

label

as

a

defensive

sector

worked

against

it

during

the

period,

as

defensive

sectors

were

not

in

favor.

8

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

the

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

We

expect

the

vaccine

rollout

and

resulting

economic

reopening

to

support

markets

as

well.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

17,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Small

Cap

Index

SM

is

a

float-

adjusted,

market

capitalization-weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

small-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

bottom

3%-10%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

is

a

service

mark

of Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of investing

in

the

fund.

4

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

The

prices

of

small

company

stocks

tend

to

be

more

volatile

than

the

prices

of

large

company

stocks,

mainly

because

these

companies

have

less

established

and

more

volatile

earnings

histories.

They

also

tend

to

be

less

liquid

than

larger

company

stocks.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

9

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

through

April

30,

2021,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

the

BNY

Mellon

International

Equity

ETF

produced

a

total

return

of

29.18%.

1

This

compares

with

a

29.13%

total

return

for

the

fund’s

benchmark,

the

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

(the

“Index”),

during

the

same

period.

2,3

International

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence,

the

implementation

of

a

COVID-19

vaccine

rollout

and

impending

economic

reopening.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

transaction

costs

and

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

,

depositary

receipts

based

on

securities

comprising

the

Index,

exchange-traded

funds

(ETFs)

providing

exposure

to

such

securities,

and

derivatives

with

economic

characteristics

similar

to

such

securities

or

the

Index.

The

fund’s

derivatives

investments

may

include

futures,

currency

forwards,

total

return

swaps

and

structured

notes.

The

Index

is

a

float-adjusted,

market

capitalization-weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

developed

market

companies

(excluding

the

United

States)

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

Stimulus

and

Optimism

Supports

Equity

Rally

After

a

bout

of

fall

volatility,

investor

sentiment

turned

optimistic

in

November

2020.

Resolution

in

the

U.S.

presidential

election

and

promising

progress

towards

a

COVID-19

vaccine

helped

stocks

resurrect

their

upward

momentum.

December

2020

brought

vaccine

approvals

and

passage

of

another

U.S.

fiscal

stimulus

package,

both

of

which

helped

to

support

the

rally.

Ten-year

U.S.

Treasury

rates

began

to

rise

as

market

participants

anticipated

the

beginning

of

a

strong

global

economic

recovery.

A

strong

rotation

began

out

of

companies

that

were

able

to

benefit

in

the

COVID-19

economy,

such

as

technology

and

growth

stocks.

Investors

began

to

support

COVID-19-sensitive

sectors

of

the

market,

which

had

previously

lagged,

as

well

as

cyclical

areas

of

the

market

on

the

theory

that

these

sectors

were

offering

more

attractive

valuations

and

would

benefit

most

from

economic

reopening.

As

the

equity

rally

continued

and

sentiment

strengthened,

global

bond

yields

rose,

and

investors

pulled

back

in

March

2021.

Economic

centers

of

Europe

such

as

Italy,

France

and

Spain

reinstituted

lockdown

measures

as

COVID-19

cases

once

again

began

to

surge.

During

the

month,

the

U.S.

government

passed

another

COVID-19

relief

bill.

The

Biden

administration

also

began

to

lay

the

groundwork

for

an

infrastructure

plan.

Investor

concerns

were

mollified

as

earnings

season

brought

positive

financial

news

from

reporting

companies.

The

equity

rally

continued

in

April.

Stocks

produced

strong

results

for

the

six

months.

Consumer

Discretionary

Sector

Drives

Index

Returns

The

consumer

discretionary

sector

was

among

the

leading

contributors

to

returns

during

the

period.

High

demand

from

Chinese

consumers,

which

was

one

of

the

first

markets

impacted

by

COVID-19

and

one

of

the

first

to

recover,

supported

sales

of

several

consumer

brands

during

the

six

months.

Luxury

goods

saw

the

highest

demand.

Companies

that

provide

online

gambling

services

also

posted

strong

performance.

Information

technology

was

another

standout

performer.

A

shortage

of

chips

and

other

semiconductor

products

has

led

to

price

increases

for

these

goods.

Widespread

5G

technology

rollout

and

an

increased

need

for

cloud

storage

has

increased

demand

for

these

items.

Software

companies

also

saw

increased

demand

for

their

products,

as

people

continued

to

work

from

home

and

upgrade

their

software.

From

a

country

perspective,

companies

based

in

Japan

made

the

largest

contribution

to

returns,

as

performance

was

positive,

and

it

is

the

largest

country

in

the

Index.

European

companies

also

posted

strong

performance.

Banks

based

in

France

were

among

the

standout

leaders,

as

were

financial

companies

based

in

the

United

Kingdom.

In

a

period

of

such

strong

equity

returns,

a

few

sectors

trailed

the

broader

market.

The

utilities

sector

lagged,

due

in

part

to

its

positioning

as

a

defensive

investment.

Defensive

investments

were

out

of

favor

during

the

period.

In

addition,

the

real

estate

sector

faced

several

headwinds.

REITs

that

own

office

and

commercial

real

estate,

as

well

as

commuter

transportation

such

as

trains,

faced

difficulties

as

people

in

developed-world

major

metropolitan

hubs

largely

continued

to

work

from

home.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

We

expect

the

vaccine

rollout

and

resulting

economic

reopening

to

support

markets

as

well.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

10

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

May

17,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Morningstar

Inc.

—

The

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-capitalization

stocks.

A

country

is

considered

developed

if

it

meets

the

following

criteria:

(i)

its

annual

per

capita

gross

national

income

falls

in

the

World

Bank’s

high-income

category

for

the

most

recent

three

years;

(ii)

it

has

not

had

any

broad-based

discriminatory

controls

against

non-domiciled

investors

for

the

most

recent

three

years;

and

(iii)

its

stock

markets

exhibit

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

developed

market

companies

(excluding

the

United

States)

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Currencies

are

subject

to

the

risk

that

those

currencies

will

decline

in

value

relative

to

a

local

currency,

or,

in

the

case

of

hedged

positions,

that

the

local

currency

will

decline

relative

to

the

currency

being

hedged.

Each

of

these

risks

could

increase

the

fund’s

volatility.

Investing

in

foreign-denominated

and/or

domiciled

securities

involves

special

risks,

including

changes

in

currency

exchange

rates,

political,

economic

and

social

instability,

limited

company

information,

differing

auditing

and

legal

standards

and

less

market

liquidity.

These

risks

generally

are

greater

with

emerging-market

countries.

Diversification

cannot

assure

a

profit

or

protect

against

loss.

The

fund

may,

but

is

not

required

to,

use

derivative

instruments.

A

small

investment

in

derivatives

could

have

a

potentially

large

impact

on

the

fund's

performance.

The

use

of

derivatives

involves

risks

different

from,

or

possibly

greater

than,

the

risks

associated

with

investing

directly

in

the

underlying

assets.

11

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

November

1,

2020,

through

April

30,

2021,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

the

BNY

Mellon

Emerging

Markets

Equity

ETF

produced

a

total

return

of

21.65%.

1

In

comparison,

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

returned

21.88%

for

the

same

period.

2

Emerging-market

equities

gained

value

during

the

reporting

period,

due

largely

to

supportive

central

bank

policies,

increases

in

energy

prices

and

the

rollout

of

a

COVID-19

vaccine.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

transaction

costs

and

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

,

depositary

receipts

based

on

securities

comprising

the

Index,

exchange-traded

funds

(ETFs)

providing

exposure

to

such

securities,

and

derivatives

with

economic

characteristics

similar

to

such

securities

or

the

Index.

The

fund’s

derivatives

investments

may

include

futures,

currency

forwards,

total

return

swaps

and

structured

notes.

The

Index

is

a

float-adjusted,

market-capitalization

weighted

Index

designed

to

measure

the

performance

of

emerging-

market,

large-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

emerging-market

companies

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

pre-

ceding

six-month

period,

and

market

capitalization.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

Stimulus

and

Optimism

Support

Equity

Rally

The

rebound

in

emerging-equity

market

indices

continued

and

indeed

accelerated

during

the

final

two

months

of

2020

as

investors

looked

beyond

near-term

challenges,

with

investor

sentiment

boosted

by

a

raft

of

positive

vaccine

news.

Risk

appetite

was

also

bolstered

by

a

series

of

well-received

geopolitical

developments,

not

least

the

U.S.

presidential

election

outcome

in

early

November,

which

saw

Joe

Biden

voted

in

as

president.

Additional

fiscal

support

has

also

been

forthcoming,

with

a

$900

billion

U.S.

stimulus

package

agreed

towards

the

end

of

December.

The

positive

sentiment

carried

over

into

the

new

year,

and

emerging

markets

initially

made

strong

gains,

owing

in

large

part

to

the

strength

of

Chinese

economic

data.

China’s

GDP

(gross

domestic

product)

rose

by

2.3%

in

2020,

after

growth

for

the

final

quarter

came

in

at

6.5%

on

a

year-on-year

basis,

while

the

trade

surplus

rose

to

a

record

monthly

level

of

U.S.$78

billion

in

December.

Additional

fiscal

stimulus

proposed

by

the

new

U.S.

administration

of

$1.9

trillion,

along

with

the

positive

progress

of

mass

vaccination

programs

across

countries,

further

supported

equity

markets.

However,

towards

the

end

of

February

2021,

equity

markets

experienced

a

sell-off

as

expectations

for

global

growth

and

inflation

caused

government

bond

yields

to

rise

aggressively.

The

weakness

continued

through

to

the

end

of

the

reporting

period,

with

China

and

India

notable

laggards.

The

key

drivers

to

weakness

in

the

Chinese

market

were

regulatory

and

geopolitical

news

flow,

expectations

of

monetary-policy

normalization

and

forced

selling

in

positions

held

by

private

investment

firm

Archegos

Capital

Management,

while

India

is

suffering

from

a

devastating

second

wave

of

COVID-19

infections

and

deaths.

Technology

Stocks

Lead

the

Market

The

information

technology

sector

was

among

the

leading

contributors

to

returns

for

the

period.

China-based

software,

online

payment

provider

and

semiconductor

companies

saw

high

demand

for

their

products.

Consumers

spent

a

lot

of

time

at

home

during

the

six

months,

stoking

demand

for

online

activities

such

as

browsing

social

media,

shopping,

gaming

and

working.

Companies

that

provide

products

and

services

which

support

these

activities

led

the

market.

The

financials

sector

was

another

strong

performer.

Banks

were

a

leading

source

of

returns

within

the

sector,

particularly

those

based

in

Russia,

the

Middle

East

and

Brazil.

Within

the

materials

sector,

which

was

also

among

the

leading

performers,

metals

and

mining

companies

were

a

standout

leader.

Iron

ore

prices

rose

during

the

period

to

seven-

year

highs.

The

manufacturing

industry

also

did

well.

Chinese

economic

activity

helped

support

demand

for

these

companies’

products.

In

a

period

of

such

strong

equity

returns,

there

were

a

few

sectors

that

lagged

the

broader

market.

The

consumer

discretionary

sector

was

pulled

down

by

Alibaba,

which

had

difficulties

with

Chinese

regulators

during

the

six

months.

In

addition,

the

real

estate

sector

was

flat

for

the

period.

Chinese

regulators

were

concerned

over

possible

default

rates

on

property

loans,

so

they

ordered

banks

to

unload

some

of

their

real

estate

holdings.

The

mass

liquidation

drove

down

prices.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

12

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

We

expect

the

vaccine

rollout

and

resulting

economic

reopening

to

support

markets

as

well.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

May

17,

2021

1

DUE

TO

RECENT

MARKET

VOLATILITY,

CURRENT

PERFORMANCE

MAY

BE

DIFFERENT

THAN

THE

FIGURES

SHOWN.

Investors

should

note

that

the

fund’s

short-term

performance

is

highly

unusual,

in

part

due

to

unusually

favorable

market

conditions,

and

is

unlikely

to

be

repeated

or

consistently

achieved

in

the

future.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

The

fund’s

return

reflects

the

absorption

of

certain

fund

expenses

by

BNY

Mellon

ETF

Investment

Adviser,

LLC

pursuant

to

an

agreement

in

effect

through

March

1,

2022,

at

which

time

it

may

be

extended,

modified

or

terminated.

2

Source:

Morningstar

Inc.

—

The

Morningstar

®

Emerging

Markets

Large

Cap

Index

is

a

float-adjusted,

market-

capitalization

weighted

index

designed

to

measure

the

performance

of

emerging

market,

large-capitalization

stocks.

A

country

is

considered

emerging

if:

(i)

its

annual

per

capita

gross

national

income

does

not

fall

in

the

World

Bank’s

high

income

category

for

the

most

recent

three

years;

(ii)

it

has

had

broad-based

discriminatory

controls

against

non-domiciled

investors

during

the

most

recent

three

years;

and

(iii)

its

stock

markets

do

not

exhibit

any

of

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

emerging

market

companies

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

Index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

3

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Emerging

markets

tend

to

be

more

volatile

than

the

markets

of

more

mature

economies

and

generally

have

less

diverse

and

less

mature

economic

structures

and

less

stable

political

systems

than

those

of

developed

countries.

The

securities

of

companies

located

in

emerging

markets

are

often

subject

to

rapid

and

large

changes

in

price.

An

investment

in

this

fund

should

be

considered

only

as

a

supplement

to

a

complete

investment

program

for

those

investors

willing

to

accept

the

greater

risks

associated

with

investing

in

emerging

market

countries.

Investing

internationally

involves

special

risks,

including

changes

in

currency

exchange

rates,

political,

economic,

and

social

instability,

a

lack

of

comprehensive

company

information,

differing

auditing

and

legal

standards

and

less

market

liquidity.

These

risks

generally

are

greater

with

emerging-market

countries

than

with

more

economically

and

politically

established

foreign

countries.

The

fund

may,

but

is

not

required

to,

use

derivative

instruments.

A

small

investment

in

derivatives

could

have

a

potentially

large

impact

on

the

fund's

performance.

The

use

of

derivatives

involves

risks

different

from,

or

possibly

greater

than,

the

risks

associated

with

investing

directly

in

the

underlying

assets.

13

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2020

through

April

30,

2021,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

from

November

1,

2020

through

April

30,

2021,

the

BNY

Mellon

Core

Bond

ETF

produced

a

total

return

of

-1.45%.

1

In

comparison,

the

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

-1.52%

for

the

same

period.

2

Investment-grade,

U.S.

fixed-income

securities

produced

negative

returns

over

the

reporting

period

in

an

environment

of

rising

rates

and

economic

recovery.

Because

the

fund

cannot

hold

all

of

the

securities

in

the

Index,

the

difference

in

returns

between

the

fund

and

the

Index

is

due

primarily

to

sampling

risk,

the

choice

of

securities

selected

to

replicate

the

Index’s

performance

The

Fund’s

Investment

Approach

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Index

and

TBA

transactions

representing

bonds

included

in

the

Index.

The

Index

is

designed

to

measure

the

investment

grade,

U.S.

dollar-denominated,

fixed-rate

taxable

bond

market.

The

index

includes

Treasuries,

government-related

and

corporate

securities,

mortgage-

backed

pass-through

securities

(agency

fixed-rate),

commercial

mortgage-backed

securities

(agency

and

non-agency)

and

other

asset-backed

securities

having

at

least

one

year

until

final

maturity.

Treasury,

government-related

and

corporate

securities

must

have

$300

million

or

more

par

amount

outstanding.

For

mortgage-backed

pass-through

securities,

pool

aggregates

must

have

$1

billion

or

more

par

amount

outstanding.

Asset-backed

securities

must

have

a

minimum

deal

size

of

$500

million

and

a

minimum

tranche

size

of

$25

million.

Commercial

mortgage-

backed

securities

must

have

a

minimum

deal

size

of

$500

million

with

at

least

$300

million

outstanding

and

a

minimum

tranche

size

of

$25

million.

To

be

included

in

the

Index,

securities

must

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

Index.

Economic

Recovery,

Inflation

and

Tapering

Concerns

Lead

to

Yield

Curve

Steepening

Fixed-income

markets

posted

a

negative

performance

during

the

reporting

period,

largely

due

to

yield

curve

steepening.

Yields

at

the

longer

end

of

the

curve

rose

dramatically

due

to

the

strengthening

economic

recovery,

worries

about

inflation

and

concerns

about

when

the

Federal

Reserve

(the

“Fed”)

would

begin

tapering

its

bond

purchases.

A

number

of

economic

and

political

factors

contributed

to

losses

in

fixed-income

markets

early

in

the

reporting

period.

A

$900

billion

government

relief

package,

including

paycheck

protection

programs

and

the

approval

of

COVID-19

vaccines,

sustained

and

strengthened

the

economic

recovery.

In

addition,

the

Fed

left

short-term

interest

rates

unchanged

and

continued

its

bond

purchasing

program,

making

it

clear

that

it

would

continue

the

program

until

the

economy

reached

full

employment.

The

November

election

also

resolved

the

uncertainty

that

had

characterized

the

political

environment

until

then.

The

improved

prospects

of

economic

recovery,

combined

with

a

decline

in

political

uncertainty,

led

to

an

increase

in

investor

risk

appetite.

As

investors

shifted

to

risk

assets,

prices

on

longer

Treasury

securities

fell,

causing

yields

to

rise.

In

2021,

risk

appetites

remained

strong

on

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

infrastructure

bill

to

come.

The

Fed

also

remained

accommodative

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

As

a

result,

the

Treasury

yield

curve

experienced

continued

steepening

on

expectations

of

robust

economic

growth.

The

combination

of

increased

fiscal

stimulus

and

easy

monetary

policy,

led

to

some

rising

concerns

about

inflation

and

questions

about

whether

the

Fed

would

begin

to

reduce

it

bond

purchases

sooner

than

expected.

These

concerns

also

contributed

to

the

yield

curve

steepening.

While

the

short

end

of

the

curve

remained

largely

flat,

the

longer

end

rose

significantly.

The

yield

on

the

10-year

Treasury

rose

from

0.87%

to

1.63%,

or

76

basis

points,

one

of

the

largest

moves

in

decades.

This

yield

bottomed

after

the

November

election

at

0.76%

and

reached

a

high

of

1.74%

in

March

2021.

Weak

Treasury

Performance

Led

the

Market

The

Index

posted

weak

results

during

the

period,

led

by

Treasuries,

which

make

up

approximately

one-third

of

the

Index.

Treasuries

posted

a

loss

of

-3.42%

as

a

result

of

the

large

run-up

in

yields.

This

rise

stemmed

from

the

increase

in

risk

appetite

that

led

investors

into

other

segments

of

the

fixed-income

market

and

other

risk

assets.

On

the

other

hand,

other

spread

sectors

of

the

market

performed

relatively

well.

Corporate

bonds

outperformed

Treasuries

by

over

400

bps,

led

in

particular

by

the

industrial

sector.

Higher

risk

industrial

sectors,

including

energy,

performed

especially

well.

The

commercial

mortgage-backed

market

also

posted

strong

excess

returns,

exceeding

Treasuries

by

over

200

bps.

The

residential

mortgage-backed

market

outperformed

Treasuries

as

well,

posting

an

excess

return

of

47

bps,

helped

in

part

by

purchases

from

the

Fed.

14

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

May

17,

2021

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Lipper

Inc.

—

The

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

is

designed

to

measure

the

investment

grade,

U.S.

dollar-denominated,

fixed-rate

taxable

bond

market.

The

index

includes

Treasuries,

government-related

and

corporate

securities,

mortgage-backed

pass-through

securities

(agency

fixed-rate),

commercial

mortgage-backed

securities

(agency

and

non-agency)

and

other

asset-backed

securities

having

at

least

one

year

until

final

maturity.

Treasury,

government-related

and

corporate

securities

must

have

$300

million

or

more

par

amount

outstanding.

For

mortgage-backed

pass-through

securities,

pool

aggregates

must

have

$1

billion

or

more

par

amount

outstanding.

Asset-backed

securities

must

have

a

minimum

deal

size

of

$500

million

and

a

minimum

tranche

size

of

$25

million.

Commercial

mortgage-backed

securities

must

have

a

minimum

deal

size

of

$500

million

with

at

least

$300

million

outstanding

and

a

minimum

tranche

size

of

$25

million.

To

be

included

in

the

index,

securities

must

be

rated

investment

grade

(Baa3/BBB-/

BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

the

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Investors

cannot

invest

directly

in

any

index.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

index

performance.

The

correlation

between

fund

and

Index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

Index,

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

15

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2020

through

April

30,

2021,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

the

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

produced

a

total

return

of

0.72%.

In

comparison,

the

Bloomberg

Barclays

US

Corporate

Bond

1-5

Years

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

0.80%

for

the

same

period.

2

Short-term,

investment-grade

securities

produced

modestly

positive

returns

over

the

reporting

period,

in

an

environment

of

rising

long-term

rates

and

economic

recovery.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Index.

For

bonds,

“duration”

refers

to

an

investment’s

“interest-rate

risk,”

or

how

sensitive

a

bond

may

be

to

changes

in

interest

rates.

For

example,

the

market

price

of

a

fixed-income

security

with

a

duration

of

three

years

would

be

expected

to

decline

3%

if

interest

rates

rose

1%.

Conversely,

the

market

price

of

the

same

security

would

be

expected

to

increase

3%

if

interest

rates

fell

1%.

The

Index

is

designed

to

measure

the

market

for

investment

grade,

US

dollar-denominated,

fixed-rate,

taxable

corporate

bonds

with

one

to

five

years

left

to

maturity.

To

be

included

in

the

Index,

securities

must

have

$300

million

or

more

par

amount

outstanding

and

be

rated

investment

grade

(Baa3/BBB-/BBB

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

Index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

US

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

Index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

Index.

Economic

Recovery

and

Policy

Support

Benefit

the

Market

Fixed-income

markets

broadly

posted

a

negative

performance

during

the

reporting

period,

but

a

number

of

economic

and

political

factors

supported

the

corporate

portion

of

the

market.

Early

in

the

reporting

period,

a

$900

billion

government

relief

package,

including

paycheck

protection

programs,

and

the

approval

of

COVID-19

vaccines

sustained

and

strengthened

the

economic

recovery.

In

addition,

the

Federal

Reserve

(the

“Fed”)

left

short-term

interest

rates

unchanged

and

continued

its

bond

purchasing

program,

saying

it

would

continue

it

until

the

economy

reached

full

employment.

The

November

election

also

resolved

the

uncertainty

that

had

characterized

the

political

environment.

In

2021,

prospects

for

economic

recovery

remained

strong

in

part

due

to

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

infrastructure

bill

to

come.

The

Fed

also

remained

accommodative

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

To

support

asset

prices,

the

Fed

also

purchased

corporate

bonds

and

fixed-

income

exchange-traded

funds

through

December

31,

2021.

Financial

and

Higher-Risk

Industrial

Segments

Bolster

Results

The

performance

of

this

fund

relative

to

the

broader

fixed-

income

market

was

helped

primarily

by

the

lack

of

Treasury

securities

in

the

Index.

In

addition,

the

increase

in

investors’

risk

appetites

benefited

corporate

sectors

of

the

market,

and

the

fund’s

shorter

duration

also

protected

it

from

the

rise

in

longer-

term

rates.

All

sectors

of

the

shorter-term

corporate

market

posted

positive

returns.

The

finance

sector

posted

a

return

of

0.86%,

and

the

utilities

sector

gained

0.41%.

The

industrial

sector

returned

0.79%,

led

primarily

by

higher

risk

segments,

including

energy,

consumer

cyclicals

and

transportation.

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

May

17,

2021

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Lipper

Inc.

—

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

is

designed

to

measure

the

market

for

investment

grade,

U.S.

dollar-denominated,

fixed

rate,

taxable

corporate

bonds

with

one

to

five

years

left

to

maturity.

To

be

included

in

the

index,

securities

must

have

$300

million

or

more

par

amount

outstanding

and

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Investors

cannot

invest

directly

in

any

index.

BARCLAYS®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

16

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

index

performance.

The

correlation

between

fund

and

Index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

Index,

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

17

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

from

November

1,

2020

through

April

30,

2021,

as

provided

by

Paul

Benson,

CFA,

CAIA,

Manuel

Hayes

and

Stephanie

Shu,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

six-month

period

ended

April

30,

2021,

the

BNY

Mellon

High

Yield

Beta

ETF

produced

a

total

return

of

7.86%.

1

In

comparison,

the

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

7.97%

for

the

same

period.

2

U.S.

high-yield

securities

produced

positive

returns

over

the

reporting

period,

in

an

environment

of

economic

recovery.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

uses

a

rules-based,

systematic

investment

strategy

that

seeks

to

track

an

index

designed

to

measure

the

performance

of

the

high

yield

bond

market.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

and

derivatives

with

economic

characteristics

similar

to

such

bonds

or

the

Index.

The

fund’s

derivatives

investments

may

include

credit

default

swap

indexes,

total

return

swaps,

structured

notes

and

futures.

The

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

Index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

Index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

Index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

Index.

Economic

Recovery,

Policy

Support

and

Increased

Risk

Appetites

Benefit

Market

While

yields

at

the

longer

end

of

the

Treasury

curve

rose

dramatically

during

the

reporting

period

due

to

the

strengthening

economic

recovery

and

worries

about

inflation,

a

number

of

economic

and

political

factors

contributed

to

recovery

in

higher-

risk

portions

of

the

bond

market.

A

$900

billion

government

relief

package,

including

paycheck

protection

programs

and

the

approval

of

COVID-19

vaccines,

sustained

and

strengthened

the

economic

recovery.

In

addition,

the

Federal

Reserve

(the

“Fed”)

left

short-term

interest

rates

unchanged

and

continued

its

bond

purchasing

program,

making

it

clear

that

it

would

continue

it

until

the

economy

reached

full

employment.

The

November

election

also

resolved

the

uncertainty

that

had

characterized

the

political

environment.

High

yield

bonds

benefited

early

in

the

reporting

period

from

improved

prospects

of

economic

recovery

and

the

decline

in

political

uncertainty,

which

led

investors

to

shift

into

risk

assets,

including

high

yield

bonds.

Prospects

for

continued

economic

recovery

remained

strong

in

2021

due

in

part

to

the

passage

of

an

additional

$1.9

trillion

federal

stimulus

and

a

proposal

for

$2.3

trillion

more

to

come.

These

improved

growth

prospects

provided

additional

support

to

higher-risk

portions

of

the

bond

market,

such

as

high

yield

bonds.

The

Fed

also

remained

accommodative

in

2021

and

was

expected

to

remain

so

through

at

least

the

end

of

the

year.

To

support

asset

prices,

the

Fed

continued

purchasing

corporate

bonds

and

fixed-income,

exchange-traded

funds.

Returns

Bolstered

by

Economic

Prospects

and

Federal

Reserve

Support

The

Index

outperformed

the

more

concentrated

Bloomberg

Barclays

U.S.

High

Yield

Very

Liquid

Index

by

0.15%

for

the

period

and

also

outperformed

the

iBoxx

USD

Liquid

High

Yield

Index

by

.70%.

This

relative

outperformance

came

in

part

due

to

the

Index’s

less

liquid

nature,

as

it

offers

an

illiquidity

premium

that

is

not

as

available

in

more

liquid

indexes.

The

fund

was

able

to

approximately

match

the

performance

of

the

Index

during

this

period

due

to

its

practice

of

maintaining

a

beta

of

1.0

versus

the

Index.

All

segments

of

the

Index

benefited

from

improved

economic

prospects

and

an

increase

in

risk

appetites.

Monetary

policy

also

provided

support

as

the

Fed

continued

its

purchases

of

a

variety

of

bonds.

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

May

17,

2021

1

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

2

Source:

Lipper

Inc.

—

The

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

Index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

18

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

available,

the

Index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

the

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

Index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

Index

or

any

data

included

therein.

Investors

cannot

invest

directly

in

any

index.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

High

yield

bonds

involve

increased

credit

and

liquidity

risk

than

higher

rated

bonds

and

are

considered

speculative

in

terms

of

the

issuer’s

ability

to

pay

interest

and

repay

principal

on

a

timely

basis.

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

Index

performance.

The

correlation

between

fund

and

Index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

Index

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

UNDERSTANDING

YOUR

FUND’S

EXPENSES

(Unaudited)

19

As

a

shareholder

of

a

Fund,

you

incur

ongoing

costs,

including

investment

management

fees.

The

following

example

is

intended

to

help

you

understand

your

ongoing

costs

(in

dollars

and

cents)

of

investing

in

a

fund

and

to

compare

these

costs

with

the

ongoing

costs

of

investing

in

other

funds.

For

more

information,

see

your

Fund’s

prospectus

or

talk

to

your

financial

adviser.

The

examples

are

based

on

an

initial

investment

of

$1,000

invested

at

the

beginning

of

the

period

and

held

for

the

period

ended

April

30,

2021.

Actual

Expenses

The

information

under

each

column

in

the

table

below

entitled

“Actual”

provides

information

about

on

how

much

a

$1,000

investment

would

be

worth

at

the

close

of

the

period,

assuming

net

asset

value

total

returns

and

actual

expenses.

You

may

use

the

information

in

these

columns,

together

with

the

amount

you

invested,

to

estimate

the

expenses

that

you

paid

over

the

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.6),

then

multiply

the

result

by

the

number

for

your

Fund

under

the

heading

entitled

“Expenses

paid

for

the

period”

to

estimate

the

expenses

you

paid

on

your

account

during

this

period.

Hypothetical

Example

For

Comparison

Purposes

The

information

under

each

column

in

the

table

entitled

“Hypothetical”

provides

information

about

hypothetical

account

values

and

hypothetical

expenses

based

on

each

Fund’s

actual

expense

ratio

and

an

assumed

rate

of

return

of

5%

per

year

before

expenses,

which

is

not

the

Fund’s

actual

return.

The

hypothetical

account

values

and

expenses

may

not

be

used

to

estimate

the

actual

ending

account

balance

or

expenses

you

paid

for

the

period.

You

may

use

this

information

to

compare

the

ongoing

costs

of

investing

in

your

Fund

and

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

the

other

funds.

Please

note

that

the

expenses

shown

in

the

table

are

meant

to

highlight

your

ongoing

costs

only

and

do

not

reflect

any

transactional

costs,

such

as

brokerage

commissions

paid

on

purchases

and

sales

of

Fund

shares.

Therefore,

the

ending

account

values

and

expenses

paid

for

the

period

in

the

table

are

useful

in

comparing

ongoing

Fund

costs

only

and

will

not

help

you

determine

the

relative

total

costs

of

owning

different

funds.

In

addition,

if

these

transactional

costs

were

included,

your

costs

would

have

been

higher.

(a)

Expenses

are

calculated

using

the

annualized

expense

ratio,

which

represents

the

ongoing

expenses

as

a

percentage

of

net

assets

for

the

six-month

period

ended

April

30,

2021.

Expenses

are

calculated

by

multiplying

the

Fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

181/365.

For

the

six

months

ended

April

30,

2021

Beginning

account

value

($)

Ending

account

value($)

Expense

paid

for

the

period

($)

Annualized

expense

ratios

for

the

period

(%)

Actual

Hypothetical

Actual

Hypothetical

Actual

(a)

Hypothetical

(a)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,275.00

1,024.79

0.00

0.00

0.00

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,342.50

1,024.60

0.23

0.20

0.04

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,457.00

1,024.60

0.24

0.20

0.04

BNY

Mellon

International

Equity

ETF

1,000.00

1,000.00

1,291.80

1,024.60

0.23

0.20

0.04

BNY

Mellon

Emerging

Markets

Equity

ETF

1,000.00

1,000.00

1,216.50

1,024.25

0.60

0.55

0.11

BNY

Mellon

Core

Bond

ETF

1,000.00

1,000.00

985.50

1,024.79

0.00

0.00

0.00

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

1,000.00

1,000.00

1,007.20

1,024.50

0.30

0.30

0.06

BNY

Mellon

High

Yield

Beta

ETF

1,000.00

1,000.00

1,078.60

1,023.70

1.13

1.10

0.22

20

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.9%

Communication

Services

–

13.1%

Activision

Blizzard,

Inc.

7,381

673,073

Alphabet,

Inc.,

Class

A

(a)

2,928

6,891,048

Alphabet,

Inc.,

Class

C

(a)

2,807

6,765,207

AT&T,

Inc.

69,831

2,193,392

Charter

Communications,

Inc.,

Class

A

(a)(b)

1,407

947,544

Comcast

Corp.,

Class

A

44,187

2,481,100

Electronic

Arts,

Inc.

2,919

414,732

Facebook,

Inc.,

Class

A

(a)

23,437

7,618,900

Netflix,

Inc.

(a)

4,319

2,217,677

Snap,

Inc.,

Class

A

(a)(b)

9,140

565,035

T-Mobile

US,

Inc.

(a)

5,576

736,757

Twitter,

Inc.

(a)

7,761

428,562

Verizon

Communications,

Inc.

40,508

2,340,957

Walt

Disney

Co.

(The)

(a)

17,635

3,280,463

37,554,447

Consumer

Discretionary

–

12.8%

Amazon.com,

Inc.

(a)

4,168

14,452,206

Booking

Holdings,

Inc.

(a)

398

981,500

Chipotle

Mexican

Grill,

Inc.,

Class

A

(a)

280

417,768

Dollar

General

Corp.

2,416

518,836

DoorDash

,

Inc.,

Class

A

(a)(b)

317

45,385

eBay,

Inc.

6,519

363,695

General

Motors

Co.

(a)

12,272

702,204

Home

Depot,

Inc.

(The)

10,528

3,407,598

Las

Vegas

Sands

Corp.

(a)

3,195

195,726

Lowe's

Cos.,

Inc.

7,139

1,401,029

Lululemon

Athletica

,

Inc.

(a)

1,179

395,283

Marriott

International,

Inc.,

Class

A

(a)

2,605

386,895

McDonald's

Corp.

7,312

1,726,217

MercadoLibre

,

Inc.

(a)

446

700,657

Nike,

Inc.,

Class

B

12,263

1,626,319

O'Reilly

Automotive,

Inc.

(a)

691

382,040

Ross

Stores,

Inc.

3,464

453,576

Starbucks

Corp.

11,491

1,315,605

Target

Corp.

4,813

997,542

Tesla,

Inc.

(a)

7,488

5,312,287

TJX

Cos.,

Inc.

(The)

11,490

815,790

36,598,158

Consumer

Staples

–

6.1%

Altria

Group,

Inc.

18,193

868,716

Brown-Forman

Corp.,

Class

A

374

26,685

Brown-Forman

Corp.,

Class

B

1,674

127,693

Coca-Cola

Co.

(The)

37,918

2,046,814

Colgate-Palmolive

Co.

8,392

677,234

Constellation

Brands,

Inc.,

Class

A

1,600

384,512

Costco

Wholesale

Corp.

4,321

1,607,801

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

2,238

702,284

General

Mills,

Inc.

5,849

355,970

Keurig

Dr

Pepper,

Inc.

(b)

6,052

216,964

Kimberly-Clark

Corp.

3,291

438,756

Kraft

Heinz

Co.

(The)

6,132

253,190

Mondelez

International,

Inc.,

Class

A

13,882

844,165

Monster

Beverage

Corp.

(a)

3,445

334,337

PepsiCo,

Inc.

13,536

1,951,350

Philip

Morris

International,

Inc.

15,176

1,441,720

Procter

&

Gamble

Co.

(The)

23,938

3,193,808

Walmart,

Inc.

13,591

1,901,517

17,373,516

Energy

–

1.7%

Chevron

Corp.

18,878

1,945,755

ConocoPhillips

12,976

663,593

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Energy

–

1.7%

(continued)

Exxon

Mobil

Corp.

41,461

2,373,228

4,982,576

Financials

–

10.9%

American

Express

Co.

6,354

974,386

Aon

PLC,

Class

A

2,252

566,243

Bank

of

America

Corp.

74,223

3,008,258

Bank

of

New

York

Mellon

Corp.

(The)

8,030

400,536

Berkshire

Hathaway,

Inc.,

Class

B

(a)

18,633

5,123,143

BlackRock,

Inc.,

Class

A

1,376

1,127,357

Blackstone

Group,

Inc.

(The),

Class

A

6,663

589,609

Capital

One

Financial

Corp.

4,456

664,300

Charles

Schwab

Corp.

(The)

14,508

1,021,363

Chubb

Ltd.

4,312

739,896

Citigroup,

Inc.

20,310

1,446,884

CME

Group,

Inc.,

Class

A

3,574

721,912

Goldman

Sachs

Group,

Inc.

(The)

3,354

1,168,701

Intercontinental

Exchange,

Inc.

5,343

628,925

JPMorgan

Chase

&

Co.

29,699

4,568,003

Marsh

&

McLennan

Cos.,

Inc.

4,918

667,373

MetLife,

Inc.

7,351

467,744

Moody's

Corp.

1,549

506,074

Morgan

Stanley

14,458

1,193,508

PNC

Financial

Services

Group,

Inc.

(The)

4,117

769,673

Progressive

Corp.

(The)

5,694

573,614

S&P

Global,

Inc.

2,343

914,684

Truist

Financial

Corp.

13,055

774,292

US

Bancorp

13,390

794,697

Wells

Fargo

&

Co.

40,199

1,810,965

31,222,140

Health

Care

–

13.3%

Abbott

Laboratories

17,387

2,087,831

AbbVie,

Inc.

17,087

1,905,200

Align

Technology,

Inc.

(a)

702

418,062

Amgen,

Inc.

5,716

1,369,782

Anthem,

Inc.

2,380

902,948

Baxter

International,

Inc.

4,885

418,596

Becton,

Dickinson

&

Co.

2,839

706,372

Biogen,

Inc.

(a)

1,488

397,787

Boston

Scientific

Corp.

(a)

13,901

606,084

Bristol-Myers

Squibb

Co.

22,003

1,373,427

Centene

Corp.

(a)

5,558

343,151

Cigna

Corp.

3,413

849,871

CVS

Health

Corp.

12,753

974,329

Danaher

Corp.

6,204

1,575,444

Edwards

Lifesciences

Corp.

(a)

6,051

577,992

Eli

Lilly

&

Co.

7,732

1,413,178

Gilead

Sciences,

Inc.

12,124

769,510

HCA

Healthcare,

Inc.

2,577

518,132

Humana,

Inc.

1,258

560,112

IDEXX

Laboratories,

Inc.

(a)

820

450,172

Illumina,

Inc.

(a)

1,425

559,797

Intuitive

Surgical,

Inc.

(a)

1,152

996,480

Johnson

&

Johnson

25,602

4,166,213

Medtronic

PLC

13,219

1,730,631

Merck

&

Co.,

Inc.

24,789

1,846,780

Pfizer,

Inc.

54,482

2,105,729

Regeneron

Pharmaceuticals,

Inc.

(a)

1,035

498,146

Stryker

Corp.

3,136

823,608

Thermo

Fisher

Scientific,

Inc.

3,880

1,824,492

UnitedHealth

Group,

Inc.

9,240

3,684,912

Veeva

Systems,

Inc.,

Class

A

(a)

1,379

389,499

21

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

13.3%

(continued)

Vertex

Pharmaceuticals,

Inc.

(a)

2,572

561,210

Zoetis,

Inc.,

Class

A

4,661

806,493

38,211,970

Industrials

–

7.1%

3M

Co.

5,635

1,110,884

Boeing

Co.

(The)

(a)

5,323

1,247,232

Caterpillar,

Inc.

5,282

1,204,877

Cintas

Corp.

884

305,104

CoStar

Group,

Inc.

(a)

381

325,538

CSX

Corp.

7,447

750,285

Cummins,

Inc.

1,493

376,296

Deere

&

Co.

3,057

1,133,688

Eaton

Corp.

PLC

3,786

541,133

Emerson

Electric

Co.

5,684

514,345

FedEx

Corp.

2,324

674,680

General

Dynamics

Corp.

2,343

445,709

General

Electric

Co.

85,357

1,119,884

Honeywell

International,

Inc.

6,885

1,535,630

Illinois

Tool

Works,

Inc.

2,782

641,140

L3Harris

Technologies,

Inc.

2,017

422,017

Lockheed

Martin

Corp.

2,407

916,008

Norfolk

Southern

Corp.

2,486

694,191

Northrop

Grumman

Corp.

1,518

538,040

Raytheon

Technologies

Corp.

14,923

1,242,191

Roper

Technologies,

Inc.

1,019

454,922

Uber

Technologies,

Inc.

(a)

14,224

779,048

Union

Pacific

Corp.

6,557

1,456,244

United

Parcel

Service,

Inc.,

Class

B

6,935

1,413,769

Waste

Management,

Inc.

3,740

516,008

20,358,863

Information

Technology

–

29.8%

Accenture

PLC,

Class

A

6,129

1,777,226

Adobe,

Inc.

(a)

4,687

2,382,590

Advanced

Micro

Devices,

Inc.

(a)

11,765

960,259

Amphenol

Corp.,

Class

A

5,659

381,077

Analog

Devices,

Inc.

3,508

537,285

Apple,

Inc.

153,785

20,216,576

Applied

Materials,

Inc.

8,893

1,180,190

Autodesk,

Inc.

(a)

2,109

615,638

Automatic

Data

Processing,

Inc.

4,098

766,285

Broadcom,

Inc.

3,953

1,803,359

Cisco

Systems,

Inc.

40,986

2,086,597

Cognizant

Technology

Solutions

Corp.,

Class

A

5,044

405,538

DocuSign,

Inc.,

Class

A

(a)

1,886

420,465

Fidelity

National

Information

Services,

Inc.

6,063

927,033

Fiserv,

Inc.

(a)

5,609

673,753

Global

Payments,

Inc.

2,850

611,696

Intel

Corp.

39,764

2,287,623

International

Business

Machines

Corp.

8,701

1,234,498

Intuit,

Inc.

2,647

1,090,988

LAM

Research

Corp.

1,383

858,082

Mastercard

,

Inc.,

Class

A

8,558

3,269,669

Micron

Technology,

Inc.

(a)

10,845

933,429

Microsoft

Corp.

73,461

18,525,395

NVIDIA

Corp.

6,040

3,626,295

NXP

Semiconductors

NV

2,791

537,295

Oracle

Corp.

18,074

1,369,828

PayPal

Holdings,

Inc.

(a)

11,419

2,995,090

Qualcomm,

Inc.

10,946

1,519,305

salesforce.com,

Inc.

(a)

8,976

2,067,352

ServiceNow

,

Inc.

(a)

1,911

967,673

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

29.8%

(continued)

Square,

Inc.,

Class

A

(a)

3,797

929,582

Synopsys,

Inc.

(a)

1,536

379,484

Texas

Instruments,

Inc.

8,936

1,613,037

Twilio

,

Inc.,

Class

A

(a)

1,551

570,458

Visa,

Inc.,

Class

A

(b)

16,508

3,855,608

Workday,

Inc.,

Class

A

(a)

1,818

449,046

Zoom

Video

Communications,

Inc.,

Class

A

(a)

1,970

629,553

85,454,857

Materials

–

1.6%

Air

Products

&

Chemicals,

Inc.

2,132

615,039

Dow,

Inc.

7,001

437,563

DuPont

de

Nemours,

Inc.

5,230

403,285

Ecolab,

Inc.

2,395

536,767

Linde

PLC

5,176

1,479,508

Newmont

Corp.

7,758

484,177

Sherwin-Williams

Co.

(The)

2,394

655,645

Southern

Copper

Corp.

1,029

71,423

4,683,407

Real

Estate

–

1.6%

American

Tower

Corp.

(c)

4,318

1,100,097

Crown

Castle

International

Corp.

(c)

4,231

799,913

Digital

Realty

Trust,

Inc.

(c)

2,769

427,284

Equinix

,

Inc.

(c)

866

624,178

Prologis,

Inc.

(c)

7,165

834,937

Public

Storage

(c)

1,457

409,650

SBA

Communications

Corp.,

Class

A

(c)

1,037

310,810

4,506,869

Utilities

–

1.9%

American

Electric

Power

Co.,

Inc.

4,734

419,953

Dominion

Energy,

Inc.

8,111

648,069

Duke

Energy

Corp.

7,310

736,044

Exelon

Corp.

9,347

420,054

NextEra

Energy,

Inc.

19,210

1,488,967

Sempra

Energy

2,948

405,557

Southern

Co.

(The)

10,300

681,551

WEC

Energy

Group,

Inc.

2,995

291,024

Xcel

Energy,

Inc.

5,030

358,639

5,449,858

Total

Common

Stocks

(cost

$253,254,774)

286,396,661

Principal

Amount

($)

Short-Term

Investments

–

0.0%

U.S.

Treasury

Securities

–

0.0%

U.S.

Treasury

Bills,

0.03%,

6/24/2021

(d)(e)

(cost

$17,000)

17,000

17,000

Total

Short-Term

Investments

(cost

$17,000)

17,000

Shares

Investment

Companies

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$123,441)

123,441

123,441

22

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$5,573,216

and

the

value

of

the

collateral

was

$5,743,425,

consisting

of

cash

collateral

of

$47,936

and

U.S.

Government

&

Agency

securities

valued

at

$5,695,489.

(c)

Investment

in

a

real

estate

investment

trust.

(d)

Held

by

a

counterparty

for

open

exchange

traded

derivative

contracts.

(e)

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

(f)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.0%

Registered

Investment

Companies

–

0.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$47,936)

47,936

47,936

Total

Investments

(cost

$253,443,151)

99.9%

286,585,038

Cash

and

Receivables

(Net)

0.1%

165,412

Net

Assets

100.0%

286,750,450

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

116,685

2,278,232

(2,271,476)

—

—

123,441

0.0

12

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

35,514

705,707

(693,285)

—

—

47,936

0.0

3,526

2

Total

152,199

2,983,939

(2,964,761)

—

—

171,377

0.0

3,538

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

29.8

Health

Care

13.3

Communication

Services

13.1

Consumer

Discretionary

12.8

Financials

10.9

Industrials

7.1

Consumer

Staples

6.1

Utilities

1.9

Energy

1.7

Materials

1.6

Real

Estate

1.6

Registered

Investment

Companies

0.0

U.S.

Treasury

Securities

0.0

99.9

†

Based

on

net

assets.

23

See

Notes

to

Financial

Statements

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

S&P

500

E-mini

1

6/18/2021

196,647

208,720

12,073

24

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.9%

Communication

Services

–

4.7%

Altice

USA,

Inc.,

Class

A

(a)

2,831

102,794

Cable

One,

Inc.

61

109,190

Discovery,

Inc.,

Class

A

(a)(b)

1,847

69,558

Discovery,

Inc.,

Class

C

(a)

3,538

114,313

DISH

Network

Corp.,

Class

A

(a)

3,019

135,221

Fox

Corp.,

Class

A

4,026

150,653

Fox

Corp.,

Class

B

1,847

67,194

IAC/InterActiveCorp

(a)

973

246,626

Interpublic

Group

of

Cos.,

Inc.

(The)

4,577

145,320

Liberty

Broadband

Corp.,

Class

A

(a)

307

48,405

Liberty

Broadband

Corp.,

Class

C

(a)

2,440

397,037

Liberty

Media

Corp.-Liberty

Formula

One,

Class

A

(a)

315

13,047

Liberty

Media

Corp.-Liberty

Formula

One,

Class

C

(a)

2,445

114,768

Liberty

Media

Corp.-Liberty

SiriusXM

,

Class

A

(a)

1,034

46,726

Liberty

Media

Corp.-Liberty

SiriusXM

,

Class

C

(a)

2,053

92,857

Live

Nation

Entertainment,

Inc.

(a)(b)

1,705

139,605

Lumen

Technologies,

Inc.

11,777

151,099

Match

Group,

Inc.

(a)(b)

3,111

484,165

News

Corp.,

Class

A

4,700

123,116

News

Corp.,

Class

B

1,513

36,781

Omnicom

Group,

Inc.

2,519

207,213

Pinterest,

Inc.,

Class

A

(a)

6,169

409,437

Playtika

Holding

Corp.

(a)

721

20,029

Roku,

Inc.,

Class

A

(a)

1,297

444,832

Sirius

XM

Holdings,

Inc.

(b)

13,389

81,673

Skillz

,

Inc.,

Class

A

(a)(b)

2,935

51,421

Take-Two

Interactive

Software,

Inc.

(a)

1,343

235,535

ViacomCBS

,

Inc.,

Class

A

(b)

123

5,560

ViacomCBS

,

Inc.,

Class

B

6,711

275,285

Zillow

Group,

Inc.,

Class

A

(a)

431

57,474

Zillow

Group,

Inc.,

Class

C

(a)

1,781

231,744

Zynga,

Inc.,

Class

A

(a)

11,580

125,296

4,933,974

Consumer

Discretionary

–

11.5%

Advance

Auto

Parts,

Inc.

767

153,523

Airbnb,

Inc.,

Class

A

(a)(b)

871

150,430

Aptiv

PLC

(a)

3,118

448,649

Aramark

3,043

118,281

Autoliv

,

Inc.

(a)

954

96,030

AutoZone,

Inc.

(a)

264

386,528

Best

Buy

Co.,

Inc.

2,651

308,232

BorgWarner,

Inc.

2,813

136,656

Bright

Horizons

Family

Solutions,

Inc.

(a)

697

100,947

Burlington

Stores,

Inc.

(a)

788

257,148

Caesars

Entertainment,

Inc.

(a)

2,406

235,403

CarMax,

Inc.

(a)

1,918

255,554

Carnival

Corp.

(a)(b)

9,325

260,727

Carvana

Co.,

Class

A

(a)(b)

725

206,813

Chegg

,

Inc.

(a)(b)

1,627

146,967

Contextlogic

,

Inc.,

Class

A

(a)(b)

527

7,309

D.R.

Horton,

Inc.

3,834

376,844

Darden

Restaurants,

Inc.

1,530

224,482

Deckers

Outdoor

Corp.

(a)

316

106,871

Dollar

Tree,

Inc.

(a)

2,714

311,839

Domino's

Pizza,

Inc.

460

194,276

Draftkings

,

Inc.,

Class

A

(a)(b)

3,666

207,716

Etsy,

Inc.

(a)

1,468

291,824

Expedia

Group,

Inc.

(a)

1,625

286,374

Five

Below,

Inc.

(a)

646

130,020

Floor

&

Decor

Holdings,

Inc.,

Class

A

(a)

1,199

132,993

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Discretionary

–

11.5%

(continued)

Ford

Motor

Co.

(a)

45,344

523,270

Gap,

Inc.

(The)

2,345

77,619

Garmin

Ltd.

1,706

234,131

Gentex

Corp.

2,857

100,509

Genuine

Parts

Co.

1,700

212,449

Grubhub

,

Inc.

(a)

1,076

73,211

Hasbro,

Inc.

1,530

152,159

Hilton

Worldwide

Holdings,

Inc.

(a)

3,219

414,285

L

Brands,

Inc.

(a)

2,687

177,073

Lear

Corp.

652

119,864

Lennar

Corp.,

Class

A

3,149

326,236

Lennar

Corp.,

Class

B

211

17,000

LKQ

Corp.

(a)

3,263

152,415

MGM

Resorts

International

4,897

199,406

Mohawk

Industries,

Inc.

(a)

665

136,658

Newell

Brands,

Inc.

4,458

120,188

NVR,

Inc.

(a)

40

200,724

Peloton

Interactive,

Inc.,

Class

A

(a)

3,086

303,508

Penn

National

Gaming,

Inc.

(a)

1,704

151,860

Pool

Corp.

454

191,824

PulteGroup,

Inc.

3,160

186,819

Quantumscape

Corp.,

Class

A

(a)(b)

1,526

55,760

Royal

Caribbean

Cruises

Ltd.

(a)

2,507

217,984

Service

Corp.

International

1,890

101,002

Tractor

Supply

Co.

1,365

257,439

Ulta

Beauty,

Inc.

(a)

641

211,113

Vail

Resorts,

Inc.

(a)

481

156,402

VF

Corp.

3,764

329,952

Wayfair,

Inc.,

Class

A

(a)(b)

844

249,461

Whirlpool

Corp.

753

178,047

Williams-Sonoma,

Inc.

884

150,943

Wynn

Resorts

Ltd.

(a)

1,226

157,418

Yum!

Brands,

Inc.

3,498

418,081

12,087,246

Consumer

Staples

–

4.4%

Archer-Daniels-Midland

Co.

6,487

409,524

Beyond

Meat,

Inc.

(a)(b)

575

75,716

Boston

Beer

Co.,

Inc.

(The),

Class

A

(a)(b)

106

128,948

Bunge

Ltd.

1,656

139,800

Campbell

Soup

Co.

2,323

110,923

Casey's

General

Stores,

Inc.

450

99,985

Church

&

Dwight

Co.,

Inc.

2,880

246,931

Clorox

Co.

(The)

1,483

270,648

ConAgra

Brands,

Inc.

5,739

212,860

Darling

Ingredients,

Inc.

(a)

1,854

128,760

Hershey

Co.

(The)

1,688

277,338

Hormel

Foods

Corp.

3,305

152,691

JM

Smucker

Co.

(The)

(b)

1,262

165,309

Kellogg

Co.

2,949

184,077

Kroger

Co.

(The)

8,840

323,014

Lamb

Weston

Holdings,

Inc.

1,749

140,795

McCormick

&

Co.,

Inc.

2,922

264,032

Molson

Coors

Beverage

Co.,

Class

B

(a)

2,133

117,208

Reynolds

Consumer

Products,

Inc.

577

16,918

SYSCO

Corp.

5,899

499,822

Tyson

Foods,

Inc.,

Class

A

3,448

267,048

Walgreens

Boots

Alliance,

Inc.

8,304

440,942

4,673,289

Energy

–

4.4%

Baker

Hughes

Co.,

Class

A

8,598

172,648

Cabot

Oil

&

Gas

Corp.

4,521

75,365

25

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Energy

–

4.4%

(continued)

Cheniere

Energy,

Inc.

(a)

2,704

209,614

EOG

Resources,

Inc.

6,732

495,744

Halliburton

Co.

10,478

204,950

Hess

Corp.

3,208

239,028

Kinder

Morgan,

Inc.

22,470

383,113

Marathon

Petroleum

Corp.

7,537

419,434

Occidental

Petroleum

Corp.

9,833

249,365

Oneok

,

Inc.

5,137

268,871

Phillips

66

5,049

408,515

Pioneer

Natural

Resources

Co.

2,387

367,192

Schlumberger

NV

16,362

442,592

Valero

Energy

Corp.

4,706

348,056

Williams

Cos.,

Inc.

(The)

13,989

340,772

4,625,259

Financials

–

12.1%

Aflac,

Inc.

7,493

402,599

AGNC

Investment

Corp.

(c)

6,014

107,831

Alleghany

Corp.

(a)

169

114,746

Allstate

Corp.

(The)

3,509

444,941

Ally

Financial,

Inc.

4,370

224,837

American

Financial

Group,

Inc.

787

96,691

American

International

Group,

Inc.

9,956

482,368

Ameriprise

Financial,

Inc.

1,344

347,290

Annaly

Capital

Management,

Inc.

(c)

16,005

145,325

Apollo

Global

Management,

Inc.,

Class

A

(b)

2,421

134,051

Arch

Capital

Group

Ltd.

(a)

4,583

181,991

Arthur

J

Gallagher

&

Co.

2,233

323,673

Assurant,

Inc.

649

100,984

Brown

&

Brown,

Inc.

2,788

148,266

Carlyle

Group,

Inc.

(The)

1,424

60,748

Cincinnati

Financial

Corp.

1,706

192,232

Citizens

Financial

Group,

Inc.

5,017

232,187

Commerce

Bancshares,

Inc.

1,268

98,663

Discover

Financial

Services

3,556

405,384

Equitable

Holdings,

Inc.

(b)

4,752

162,661

Erie

Indemnity

Co.,

Class

A

307

65,704

Everest

Re

Group

Ltd.

477

132,105

FactSet

Research

Systems,

Inc.

454

152,644

Fidelity

National

Financial,

Inc.

3,434

156,659

Fifth

Third

Bancorp

8,271

335,306

First

Republic

Bank

2,060

377,474

Franklin

Resources,

Inc.

3,238

97,140

Globe

Life,

Inc.

1,078

110,484

Hartford

Financial

Services

Group,

Inc.

(The)

4,225

278,681

Huntington

Bancshares,

Inc.

11,535

176,716

KeyCorp

11,175

243,168

KKR

&

Co.,

Inc.,

Class

A

6,747

381,745

Lincoln

National

Corp.

2,138

137,110

Loews

Corp.

2,612

145,619

M&T

Bank

Corp.

1,468

231,489

Markel

Corp.

(a)

158

185,874

MarketAxess

Holdings,

Inc.

434

211,992

Morningstar,

Inc.

260

68,903

MSCI,

Inc.,

Class

A

956

464,396

NASDAQ,

Inc.

1,347

217,594

Northern

Trust

Corp.

2,379

270,730

Principal

Financial

Group,

Inc.

2,883

184,137

Prudential

Financial,

Inc.

4,623

463,964

Raymond

James

Financial,

Inc.

1,381

180,607

Regions

Financial

Corp.

10,975

239,255

Reinsurance

Group

of

America,

Inc.,

Class

A

816

106,513

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

12.1%

(continued)

RenaissanceRe

Holdings

Ltd.

565

95,378

SEI

Investments

Co.

1,458

89,580

State

Street

Corp.

4,105

344,615

SVB

Financial

Group

(a)

626

357,966

Synchrony

Financial

6,335

277,093

T

Rowe

Price

Group,

Inc.

2,667

477,926

Travelers

Cos.,

Inc.

(The)

2,928

452,844

Voya

Financial,

Inc.

(b)

1,467

99,492

Willis

Towers

Watson

PLC

1,487

384,925

WR

Berkley

Corp.

1,698

135,365

12,738,661

Health

Care

–

12.3%

10x

Genomics,

Inc.,

Class

A

(a)

851

168,328

ABIOMED,

Inc.

(a)

514

164,855

ACADIA

Pharmaceuticals,

Inc.

(a)

1,308

26,893

Agilent

Technologies,

Inc.

3,572

477,362

Alexion

Pharmaceuticals,

Inc.

(a)

2,531

426,929

Alnylam

Pharmaceuticals,

Inc.

(a)

1,346

189,302

Amedisys

,

Inc.

(a)

378

102,003

AmerisourceBergen

Corp.,

Class

A

1,750

211,400

Avantor

,

Inc.

(a)

6,206

198,840

BioMarin

Pharmaceutical,

Inc.

(a)

2,105

164,022

BIO-RAD

Laboratories,

Inc.,

Class

A

(a)

242

152,492

Bio-

Techne

Corp.

456

194,935

Bruker

Corp.

1,231

84,348

Cardinal

Health,

Inc.

3,379

203,889

Catalent

,

Inc.

(a)

2,001

225,053

Cerner

Corp.

3,488

261,774

Charles

River

Laboratories

International,

Inc.

(a)

596

198,140

Chemed

Corp.

191

91,033

Cooper

Cos.,

Inc.

(The)

580

238,316

DaVita,

Inc.

(a)

821

95,671

DENTSPLY

SIRONA,

Inc.

2,569

173,433

DexCom

,

Inc.

(a)

1,122

433,204

Elanco

Animal

Health,

Inc.

(a)

5,442

172,566

Encompass

Health

Corp.

1,197

101,577

Exact

Sciences

Corp.

(a)(b)

1,959

258,235

Exelixis

,

Inc.

(a)

3,574

87,992

Guardant

Health,

Inc.

(a)

985

156,595

Henry

Schein,

Inc.

(a)

1,676

121,510

Hill-Rom

Holdings,

Inc.

762

83,988

Hologic

,

Inc.

(a)

2,911

190,816

Horizon

Therapeutics

PLC

(a)

2,566

242,795

Incyte

Corp.

(a)

2,156

184,079

Insulet

Corp.

(a)

771

227,615

Ionis

Pharmaceuticals,

Inc.

(a)(b)

1,606

68,769

IQVIA

Holdings,

Inc.

(a)

2,229

523,124

Jazz

Pharmaceuticals

PLC

(a)

669

109,984

Laboratory

Corp.

of

America

Holdings

(a)

1,113

295,913

LHC

Group,

Inc.

(a)

359

74,769

Masimo

Corp.

(a)

597

138,904

McKesson

Corp.

1,872

351,112

Mettler

-Toledo

International,

Inc.

(a)

270

354,596

Mirati

Therapeutics,

Inc.

(a)

470

78,123

Moderna

,

Inc.

(a)

3,504

626,585

Molina

Healthcare,

Inc.

(a)

667

170,152

Neurocrine

Biosciences,

Inc.

(a)(b)

1,106

104,506

Novocure

Ltd.

(a)

1,002

204,508

Penumbra,

Inc.

(a)

385

117,806

PerkinElmer,

Inc.

1,314

170,334

Perrigo

Co.

PLC

1,601

66,650

26

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

12.3%

(continued)

PPD,

Inc.

(a)

1,319

60,938

PRA

Health

Sciences,

Inc.

(a)

767

128,005

Quest

Diagnostics,

Inc.

1,580

208,370

Quidel

Corp.

(a)(b)

367

38,458

Repligen

Corp.

(a)

594

125,756

ResMed

,

Inc.

1,706

320,677

Royalty

Pharma

PLC,

Class

A

934

41,096

Sarepta

Therapeutics,

Inc.

(a)(b)

921

65,244

Seagen

,

Inc.

(a)

1,467

210,896

STERIS

PLC

1,010

213,130

Tandem

Diabetes

Care,

Inc.

(a)

719

66,076

Teladoc

Health,

Inc.

(a)

1,497

258,008

Teleflex,

Inc.

552

233,209

Universal

Health

Services,

Inc.,

Class

B

934

138,615

Viatris

,

Inc.

(a)

14,131

187,942

Waters

Corp.

(a)

724

217,106

West

Pharmaceutical

Services,

Inc.

879

288,769

Zimmer

Biomet

Holdings,

Inc.

2,396

424,475

12,992,595

Industrials

–

14.4%

AECOM

(a)

1,712

113,728

Allegion

PLC

1,024

137,605

AMERCO

98

58,470

AMETEK,

Inc.

2,709

365,525

AO

Smith

Corp.

1,581

107,113

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

1,626

134,877

Carlisle

Cos.,

Inc.

601

115,182

Carrier

Global

Corp.

9,324

406,340

CH

Robinson

Worldwide,

Inc.

1,582

153,581

Clarivate

PLC

(a)

2,999

83,762

Copart

,

Inc.

(a)

2,442

304,053

Delta

Air

Lines,

Inc.

(a)

7,412

347,771

Dover

Corp.

1,634

243,777

Dun

&

Bradstreet

Holdings,

Inc.

(a)(b)

1,508

35,830

Equifax,

Inc.

1,436

329,174

Expeditors

International

of

Washington,

Inc.

1,962

215,545

Fastenal

Co.

6,765

353,674

Fortive

Corp.

3,884

275,065

Fortune

Brands

Home

&

Security,

Inc.

1,636

171,747

Generac

Holdings,

Inc.

(a)

748

242,315

Graco

,

Inc.

1,950

149,760

HEICO

Corp.

498

70,118

HEICO

Corp.,

Class

A

867

109,485

Howmet

Aerospace,

Inc.

(a)

4,626

147,847

Hubbell,

Inc.,

Class

B

649

124,615

Huntington

Ingalls

Industries,

Inc.

474

100,640

IAA,

Inc.

(a)

1,540

96,727

IDEX

Corp.

894

200,435

IHS

Markit

Ltd.

4,305

463,132

Ingersoll

Rand,

Inc.

(a)

4,268

210,882

Jacobs

Engineering

Group,

Inc.

1,535

205,091

JB

Hunt

Transport

Services,

Inc.

946

161,492

Johnson

Controls

International

PLC

8,407

524,092

Kansas

City

Southern

1,039

303,606

Knight-Swift

Transportation

Holdings,

Inc.,

Class

A

1,418

66,816

Leidos

Holdings,

Inc.

1,534

155,364

Lennox

International,

Inc.

384

128,771

Lyft,

Inc.,

Class

A

(a)

2,999

166,924

Masco

Corp.

2,926

186,913

Nikola

Corp.

(a)(b)

988

11,431

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

14.4%

(continued)

Nordson

Corp.

619

130,863

Old

Dominion

Freight

Line,

Inc.

1,105

284,880

Otis

Worldwide

Corp.

4,773

371,674

Owens

Corning

1,221

118,205

PACCAR,

Inc.

3,993

358,891

Parker-Hannifin

Corp.

1,499

470,401

Pentair

PLC

1,939

125,085

Quanta

Services,

Inc.

1,605

155,107

Republic

Services,

Inc.,

Class

A

2,473

262,880

Rockwell

Automation,

Inc.

1,343

354,901

Rollins,

Inc.

2,685

100,097

Sensata

Technologies

Holding

PLC

(a)

1,880

108,551

Snap-On,

Inc.

650

154,440

Southwest

Airlines

Co.

(a)

6,791

426,339

Stanley

Black

&

Decker,

Inc.

1,882

389,141

Sunrun

,

Inc.

(a)(b)

1,628

79,772

Teledyne

Technologies,

Inc.

(a)

426

190,742

Textron,

Inc.

2,552

163,941

Toro

Co.

(The)

1,291

147,949

Trane

Technologies

PLC

2,769

481,335

TransDigm

Group,

Inc.

(a)

642

394,021

TransUnion

2,234

233,654

Trex

Co.,

Inc.

(a)(b)

1,341

144,815

United

Airlines

Holdings,

Inc.

(a)

3,685

200,464

United

Rentals,

Inc.

(a)

832

266,198

Verisk

Analytics,

Inc.,

Class

A

1,862

350,428

Watsco

,

Inc.

391

114,508

Westinghouse

Air

Brake

Technologies

Corp.

2,033

166,848

WW

Grainger,

Inc.

523

226,741

XPO

Logistics,

Inc.

(a)

1,178

163,883

Xylem,

Inc.

2,113

233,803

15,149,832

Information

Technology

–

18.9%

Affirm

Holdings,

Inc.,

Class

A

(a)(b)

354

24,957

Akamai

Technologies,

Inc.

(a)

1,916

208,269

Alteryx

,

Inc.,

Class

A

(a)

625

51,094

Anaplan,

Inc.

(a)

1,483

88,461

ANSYS,

Inc.

(a)

1,016

371,511

Arista

Networks,

Inc.

(a)

645

203,285

Aspen

Technology,

Inc.

(a)

814

106,504

Avalara,

Inc.

(a)

1,027

145,536

Bill.com

Holdings,

Inc.

(a)

690

106,695

Black

Knight,

Inc.

(a)

1,874

135,715

Broadridge

Financial

Solutions,

Inc.

1,347

213,675

C3.Ai,

Inc.,

Class

A

(a)(b)

163

10,800

Cadence

Design

Systems,

Inc.

(a)

3,229

425,485

CDW

Corp.

1,629

290,500

Ceridian

HCM

Holding,

Inc.

(a)

1,402

132,461

Ciena

Corp.

(a)

1,752

88,424

Citrix

Systems,

Inc.

1,419

175,743

Cloudflare

,

Inc.,

Class

A

(a)(b)

2,187

185,326

Cognex

Corp.

2,059

177,321

Corning,

Inc.

8,953

395,812

Coupa

Software,

Inc.

(a)

835

224,648

Cree,

Inc.

(a)

1,350

134,217

Crowdstrike

Holdings,

Inc.,

Class

A

(a)

2,201

458,931

Datadog

,

Inc.,

Class

A

(a)(b)

2,381

204,218

Dell

Technologies,

Inc.,

Class

C

(a)

2,710

266,474

Dynatrace

,

Inc.

(a)

2,166

112,719

Elastic

NV

(a)

700

84,434

Enphase

Energy,

Inc.

(a)

1,467

204,280

27

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

18.9%

(continued)

Entegris

,

Inc.

1,590

179,002

EPAM

Systems,

Inc.

(a)

642

293,876

F5

Networks,

Inc.

(a)

716

133,720

Fair

Isaac

Corp.

(a)

340

177,279

First

Solar,

Inc.

(a)

972

74,387

Five9,

Inc.

(a)

769

144,549

FleetCor

Technologies,

Inc.

(a)

962

276,787

Flex

Ltd.

(a)

5,688

98,971

Fortinet,

Inc.

(a)

1,603

327,381

Gartner,

Inc.

(a)

1,009

197,643

Genpact

Ltd.

1,970

93,634

GoDaddy

,

Inc.,

Class

A

(a)

1,965

170,601

Guidewire

Software,

Inc.

(a)

988

104,244

Hewlett

Packard

Enterprise

Co.

15,340

245,747

HP,

Inc.

14,917

508,819

HubSpot

,

Inc.

(a)

498

262,172

IPG

Photonics

Corp.

(a)

430

93,357

Jack

Henry

&

Associates,

Inc.

866

141,011

Juniper

Networks,

Inc.

3,883

98,589

Keysight

Technologies,

Inc.

(a)

2,136

308,332

KLA

Corp.

1,785

562,900

Lumentum

Holdings,

Inc.

(a)(b)

864

73,483

Marvell

Technology,

Inc.

9,216

416,655

Maxim

Integrated

Products,

Inc.

3,142

295,348

Microchip

Technology,

Inc.

3,144

472,512

MongoDB,

Inc.,

Class

A

(a)(b)

606

180,261

Monolithic

Power

Systems,

Inc.

501

181,051

Motorola

Solutions,

Inc.

1,961

369,256

Ncino

,

Inc.

(a)

153

10,005

NetApp,

Inc.

2,593

193,671

NortonLifeLock

,

Inc.

6,712

145,046

Nuance

Communications,

Inc.

(a)

3,263

173,494

Okta

,

Inc.,

Class

A

(a)(b)

1,413

381,086

ON

Semiconductor

Corp.

(a)

4,803

187,317

Palo

Alto

Networks,

Inc.

(a)

1,123

396,857

Paychex,

Inc.

3,738

364,418

Paycom

Software,

Inc.

(a)

572

219,883

Paylocity

Holding

Corp.

(a)

426

82,320

Pegasystems

,

Inc.

477

60,550

PTC,

Inc.

(a)

1,248

163,413

Qorvo

,

Inc.

(a)

1,314

247,255

RingCentral,

Inc.,

Class

A

(a)(b)

939

299,494

Seagate

Technology

PLC

2,443

226,808

Skyworks

Solutions,

Inc.

1,905

345,434

Slack

Technologies,

Inc.,

Class

A

(a)

5,707

241,977

Smartsheet

,

Inc.,

Class

A

(a)

1,317

78,098

Snowflake,

Inc.,

Class

A

(a)

702

162,576

SolarEdge

Technologies,

Inc.

(a)(b)

596

157,070

SolarWinds

Corp.

(a)(b)

814

13,724

Splunk

,

Inc.

(a)

1,803

227,935

SS&C

Technologies

Holdings,

Inc.

2,633

195,421

SYNNEX

Corp.

452

54,782

TE

Connectivity

Ltd.

3,862

519,323

Teradyne,

Inc.

1,946

243,406

Trade

Desk,

Inc.

(The),

Class

A

(a)

494

360,279

Trimble,

Inc.

(a)

2,864

234,848

Tyler

Technologies,

Inc.

(a)

477

202,658

Ubiquiti,

Inc.

100

28,533

Universal

Display

Corp.

506

113,187

VeriSign,

Inc.

(a)

1,171

256,180

VMware,

Inc.,

Class

A

(a)(b)

957

153,914

Western

Digital

Corp.

3,498

247,064

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

18.9%

(continued)

Western

Union

Co.

(The)

4,670

120,299

Xilinx,

Inc.

2,874

367,757

Zebra

Technologies

Corp.,

Class

A

(a)

628

306,301

Zendesk

,

Inc.

(a)(b)

1,367

199,787

Zscaler

,

Inc.

(a)(b)

861

161,558

19,852,790

Materials

–

6.0%

Albemarle

Corp.

1,341

225,516

Amcor

PLC

17,978

211,242

AptarGroup,

Inc.

729

109,941

Avery

Dennison

Corp.

949

203,247

Ball

Corp.

3,845

360,046

Celanese

Corp.,

Class

A

1,343

210,381

CF

Industries

Holdings,

Inc.

2,496

121,381

Corteva

,

Inc.

8,620

420,311

Crown

Holdings,

Inc.

1,581

173,594

Eastman

Chemical

Co.

1,541

177,816

FMC

Corp.

1,464

173,103

Freeport-McMoRan,

Inc.

16,860

635,791

International

Flavors

&

Fragrances,

Inc.,

Class

W

2,873

408,454

International

Paper

Co.

4,628

268,424

LyondellBasell

Industries

NV,

Class

A

3,028

314,125

Martin

Marietta

Materials,

Inc.

715

252,481

Mosaic

Co.

(The)

4,136

145,504

Nucor

Corp.

3,547

291,776

Packaging

Corp.

of

America

1,131

166,992

PPG

Industries,

Inc.

2,717

465,259

Reliance

Steel

&

Aluminum

Co.

767

122,958

Royal

Gold,

Inc.

698

78,078

RPM

International,

Inc.

1,531

145,200

Scotts

Miracle-GRO

Co.

(The)

458

105,871

Vulcan

Materials

Co.

1,560

278,054

Westlake

Chemical

Corp.

431

40,467

Westrock

Co.

3,040

169,480

6,275,492

Real

Estate

–

6.4%

Alexandria

Real

Estate

Equities,

Inc.

(c)

1,488

269,477

American

Homes

4

Rent,

Class

A

(c)

2,992

110,824

Americold

Realty

Trust

(c)

2,942

118,827

AvalonBay

Communities,

Inc.

(c)

1,601

307,392

Boston

Properties,

Inc.

(c)

1,609

175,944

Camden

Property

Trust

(c)

1,171

141,082

CBRE

Group,

Inc.,

Class

A

(a)

3,878

330,406

CyrusOne

,

Inc.

(c)

1,386

100,942

Duke

Realty

Corp.

(c)

4,339

201,850

Equity

LifeStyle

Properties,

Inc.

(c)

1,921

133,318

Equity

Residential

(c)

4,019

298,330

Essex

Property

Trust,

Inc.

(c)

743

215,856

Extra

Space

Storage,

Inc.

(c)

1,539

228,834

Gaming

and

Leisure

Properties,

Inc.

(c)

2,540

118,085

Healthpeak

Properties,

Inc.

(c)

6,338

217,647

Host

Hotels

&

Resorts,

Inc.

(a)(c)

8,271

150,201

Invitation

Homes,

Inc.

(c)

6,457

226,383

Iron

Mountain,

Inc.

(b)(c)

3,460

138,815

Medical

Properties

Trust,

Inc.

(c)

6,841

150,844

Mid-America

Apartment

Communities,

Inc.

(c)

1,366

214,913

OMEGA

Healthcare

Investors,

Inc.

(c)

2,708

102,904

Opendoor

Technologies,

Inc.

(a)(b)

3,671

74,411

Realty

Income

Corp.

(c)

4,329

299,350

Regency

Centers

Corp.

(c)

1,844

117,389

Simon

Property

Group,

Inc.

(c)

3,795

462,003

28

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Non-income

producing

security.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$5,734,046

and

the

value

of

the

collateral

was

$5,940,558,

consisting

of

cash

collateral

of

$369,462

and

U.S.

Government

&

Agency

securities

valued

at

$5,571,096.

(c)

Investment

in

a

real

estate

investment

trust.

(d)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Real

Estate

–

6.4%

(continued)

Sun

Communities,

Inc.

(c)

1,295

216,045

UDR,

Inc.

(c)

3,506

162,854

Ventas,

Inc.

(c)

4,455

247,074

Vereit

,

Inc.

(c)

2,588

123,810

VICI

Properties,

Inc.

(b)(c)

6,134

194,448

Vornado

Realty

Trust

(c)

1,721

78,736

Welltower

,

Inc.

(c)

4,801

360,219

Weyerhaeuser

Co.

(c)

8,799

341,137

WP

Carey,

Inc.

(c)

2,061

154,348

6,784,698

Utilities

–

4.8%

AES

Corp.

(The)

7,890

219,500

Alliant

Energy

Corp.

2,873

161,376

Ameren

Corp.

2,974

252,314

American

Water

Works

Co.,

Inc.

2,130

332,259

Atmos

Energy

Corp.

1,547

160,254

Avangrid

,

Inc.

694

35,325

CenterPoint

Energy,

Inc.

6,457

158,132

CMS

Energy

Corp.

3,294

212,101

Consolidated

Edison,

Inc.

3,980

308,092

DTE

Energy

Co.

2,276

318,685

Edison

International

4,395

261,283

Entergy

Corp.

2,349

256,722

Essential

Utilities,

Inc.

2,566

120,935

Evergy

,

Inc.

2,798

178,988

Eversource

Energy

4,014

346,087

FirstEnergy

Corp.

6,228

236,166

NiSource,

Inc.

4,389

114,202

NRG

Energy,

Inc.

2,885

103,341

OGE

Energy

Corp.

2,374

79,671

PG&E

Corp.

(a)

17,292

195,745

Pinnacle

West

Capital

Corp.

1,300

110,045

PPL

Corp.

8,879

258,645

Public

Service

Enterprise

Group,

Inc.

5,929

374,476

UGI

Corp.

2,454

107,264

Vistra

Energy

Corp.

5,854

98,757

5,000,365

Total

Common

Stocks

(cost

$82,084,226)

105,114,201

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$71,393)

71,393

71,393

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.3%

Registered

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$369,462)

369,462

369,462

Total

Investments

(cost

$82,525,081)

100.3%

105,555,056

Liabilities,

Less

Cash

and

Receivables

(0.3)%

(328,805)

Net

Assets

100.0%

105,226,251

29

(e)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

130,161

1,266,101

(1,324,869)

—

—

71,393

0.1

7

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

330,606

2,080,751

(2,041,895)

—

—

369,462

0.3

3,438

2

Total

460,767

3,346,852

(3,366,764)

—

—

440,855

0.4

3,445

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

18.9

Industrials

14.4

Health

Care

12.3

Financials

12.1

Consumer

Discretionary

11.5

Real

Estate

6.4

Materials

6.0

Utilities

4.8

Communication

Services

4.7

Consumer

Staples

4.4

Energy

4.4

Registered

Investment

Companies

0.4

100.3

†

Based

on

net

assets.

30

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.9%

Communication

Services

–

2.0%

Bandwidth,

Inc.,

Class

A

(a),(b)

904

119,509

Cardlytics,

Inc.

(a),(b)

1,321

181,677

Cargurus

,

Inc.,

Class

A

(b)

3,589

88,576

Cogent

Communications

Holdings,

Inc.

1,820

137,428

Iridium

Communications,

Inc.

(b)

4,886

185,619

John

Wiley

&

Sons,

Inc.,

Class

A

1,700

96,798

Liberty

Latin

America

Ltd.,

Class

A

(b)

2,445

33,949

Liberty

Latin

America

Ltd.,

Class

C

(b)

6,216

86,713

Madison

Square

Garden

Sports

Corp.,

Class

A

(b)

732

135,303

New

York

Times

Co.

(The),

Class

A

6,008

272,823

Nexstar

Media

Group,

Inc.,

Class

A

1,903

280,521

Shenandoah

Telecommunications

Co.

2,118

100,097

TEGNA,

Inc.

9,350

187,561

Telephone

&

Data

Systems,

Inc.

4,340

99,733

TripAdvisor,

Inc.

(b)

4,236

199,643

Vonage

Holdings

Corp.

(b)

9,869

133,725

Warner

Music

Group

Corp.,

Class

A

3,636

138,023

World

Wrestling

Entertainment,

Inc.,

Class

A

(a)

1,987

109,504

Zoominfo

Technologies,

Inc.,

Class

A

(a),(b)

3,922

203,395

2,790,597

Consumer

Discretionary

–

14.4%

2U,

Inc.

(a),(b)

3,101

121,714

Acushnet

Holdings

Corp.

1,365

57,753

Adient

PLC

(b)

3,947

182,904

American

Eagle

Outfitters,

Inc.

(a)

6,307

218,033

Asbury

Automotive

Group,

Inc.

(b)

817

162,264

AutoNation,

Inc.

(b)

2,467

252,818

Bed

Bath

&

Beyond,

Inc.

(b)

5,124

129,740

Big

Lots,

Inc.

1,452

100,101

Boyd

Gaming

Corp.

(b)

3,423

226,431

Brinker

International,

Inc.

(b)

1,931

129,628

Brunswick

Corp.

3,394

363,599

Capri

Holdings

Ltd.

(b)

6,409

353,008

Carter's,

Inc.

(b)

1,824

198,433

Chewy,

Inc.,

Class

A

(a),(b)

3,239

258,213

Choice

Hotels

International,

Inc.

(b)

1,265

143,957

Churchill

Downs,

Inc.

1,508

318,942

Columbia

Sportswear

Co.

1,258

137,135

Cracker

Barrel

Old

Country

Store,

Inc.

1,014

169,815

Crocs,

Inc.

(b)

2,838

284,141

Dana,

Inc.

6,185

156,480

Dick's

Sporting

Goods,

Inc.

2,782

229,738

Dorman

Products,

Inc.

(b)

1,237

122,686

Extended

Stay

America,

Inc.

7,012

139,469

Foot

Locker,

Inc.

4,476

263,994

Fox

Factory

Holding

Corp.

(b)

1,764

270,298

Frontdoor

,

Inc.

(b)

3,588

192,066

Goodyear

Tire

&

Rubber

Co.

(The)

(b)

9,967

171,532

Grand

Canyon

Education,

Inc.

(b)

1,966

212,898

Group

1

Automotive,

Inc.

(a)

728

119,508

H&R

Block,

Inc.

7,782

173,227

Hanesbrands,

Inc.

14,792

311,519

Harley-Davidson,

Inc.

6,329

306,134

Helen

of

Troy

Ltd.

(a),(b)

1,003

211,844

Hilton

Grand

Vacations,

Inc.

(b)

3,640

162,198

Hyatt

Hotels

Corp.,

Class

A

(b)

1,511

124,401

Installed

Building

Products,

Inc.

895

120,512

iRobot

Corp.

(a),(b)

1,177

128,058

KB

Home

3,723

179,560

Kohl's

Corp.

6,630

388,916

Kontoor

Brands,

Inc.

(a)

1,967

123,587

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Discretionary

–

14.4%

(continued)

LCI

Industries

1,038

152,067

Leggett

&

Platt,

Inc.

(a)

5,551

275,718

Leslie's,

Inc.

(a),(b)

2,849

80,969

LGI

Homes,

Inc.

(a),(b)

944

156,496

Lithia

Motors,

Inc.,

Class

A

1,115

428,584

Macy's,

Inc.

(b)

13,259

219,834

Marriott

Vacations

Worldwide

Corp.

(b)

1,730

307,300

Mattel,

Inc.

(b)

14,787

317,329

MDC

Holdings,

Inc.

2,330

136,678

Meritage

Homes

Corp.

(b)

1,588

168,947

Murphy

USA,

Inc.

1,073

149,576

National

Vision

Holdings,

Inc.

(a),(b)

3,244

163,530

Nordstrom,

Inc.

(b)

4,597

168,618

Norwegian

Cruise

Line

Holdings

Ltd.

(a),(b)

15,183

471,432

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a),(b)

2,362

217,942

Overstock.Com,

Inc.

(b)

1,785

145,477

Papa

John's

International,

Inc.

1,336

129,218

Penske

Automotive

Group,

Inc.

1,421

124,607

Planet

Fitness,

Inc.,

Class

A

(b)

3,499

293,881

Polaris,

Inc.

2,438

341,393

PVH

Corp.

(b)

3,017

341,464

Qurate

Retail,

Inc.,

Series

A

15,854

188,663

Ralph

Lauren

Corp.,

Class

A

(b)

2,023

269,646

RH

(b)

682

469,230

Scientific

Games

Corp.,

Class

A

(b)

2,314

135,415

Shake

Shack,

Inc.,

Class

A

(a),(b)

1,519

165,191

Shutterstock

,

Inc.

916

79,857

Six

Flags

Entertainment

Corp.

(b)

3,366

158,135

Skechers

USA,

Inc.,

Class

A

(b)

5,719

277,314

Stamps.com,

Inc.

(b)

757

155,465

Steven

Madden

Ltd.

3,251

132,218

Stitch

Fix,

Inc.,

Class

A

(b)

2,491

107,910

Strategic

Education,

Inc.

955

71,682

Tapestry,

Inc.

(b)

11,774

563,386

Taylor

Morrison

Home

Corp.,

Class

A

(b)

5,566

173,715

Tempur

Sealy

International,

Inc.

8,066

307,637

Terminix

Global

Holdings,

Inc.

(b)

5,453

277,503

Texas

Roadhouse,

Inc.,

Class

A

(b)

2,794

299,014

Thor

Industries,

Inc.

2,372

335,851

Toll

Brothers,

Inc.

4,774

299,330

TopBuild

Corp.

(b)

1,363

303,104

Travel

+

Leisure

Co.

3,667

236,631

TRI

Pointe

Group,

Inc.

(b)

5,160

122,911

Under

Armour

,

Inc.,

Class

A

(b)

8,205

199,464

Under

Armour

,

Inc.,

Class

C

(b)

8,178

162,824

Urban

Outfitters,

Inc.

(b)

3,018

108,346

Visteon

Corp.

(b)

1,141

138,985

Vivint

Smart

Home,

Inc.

(b)

1,526

18,282

Vroom,

Inc.

(a),(b)

1,486

68,757

Wendy's

Co.

(The)

7,201

162,527

Wingstop

,

Inc.

1,221

193,419

Wolverine

World

Wide,

Inc.

3,473

144,894

Wyndham

Hotels

&

Resorts,

Inc.

3,918

286,445

YETI

Holdings,

Inc.

(b)

3,148

268,902

19,590,967

Consumer

Staples

–

3.2%

BJ's

Wholesale

Club

Holdings,

Inc.

(a),(b)

5,711

255,110

Cal-Maine

Foods,

Inc.

1,590

59,402

Central

Garden

&

Pet

Co.,

Class

A

(b)

1,659

81,739

Central

Garden

&

Pet

Co.,

Class

A

(b)

414

22,414

Coca-Cola

Consolidated,

Inc.

197

57,770

31

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Staples

–

3.2%

(continued)

Coty,

Inc.,

Class

A

(b)

12,206

122,182

Energizer

Holdings,

Inc.

2,542

125,321

Flowers

Foods,

Inc.

8,329

199,563

Freshpet

,

Inc.

(b)

1,828

337,851

Grocery

Outlet

Holding

Corp.

(b)

3,585

144,798

Hain

Celestial

Group,

Inc.

(The)

(b)

3,558

145,914

Herbalife

Nutrition

Ltd.

(b)

3,612

165,321

Ingredion,

Inc.

2,832

264,537

J&J

Snack

Foods

Corp.

642

105,680

Lancaster

Colony

Corp.

846

156,265

National

Beverage

Corp.

1,004

48,784

Nu

Skin

Enterprises,

Inc.,

Class

A

2,114

111,746

Performance

Food

Group

Co.

(b)

5,657

332,066

Pilgrim's

Pride

Corp.

(b)

2,152

51,562

Post

Holdings,

Inc.

(b)

2,516

286,270

PriceSmart

,

Inc.

951

79,922

Sanderson

Farms,

Inc.

845

139,028

Seaboard

Corp.

10

35,780

Simply

Good

Foods

Co.

(The)

(b)

3,650

126,107

Spectrum

Brands

Holdings,

Inc.

1,712

150,896

Sprouts

Farmers

Market,

Inc.

(b)

4,990

127,794

TreeHouse

Foods,

Inc.

(b)

2,300

109,480

US

Foods

Holding

Corp.

(b)

9,365

388,273

WD-40

Co.

571

142,031

4,373,606

Energy

–

3.0%

Antero

Midstream

Corp.

12,081

104,380

APA

Corp.

15,860

317,200

Cimarex

Energy

Co.

4,371

289,360

CNX

Resources

Corp.

(b)

9,412

126,309

Continental

Resources,

Inc.

(a),(b)

2,578

70,225

Devon

Energy

Corp.

25,215

589,527

Diamondback

Energy,

Inc.

7,583

619,759

EQT

Corp.

(b)

11,565

220,892

Equitrans

Midstream

Corp.

16,586

135,342

HollyFrontier

Corp.

6,161

215,635

Marathon

Oil

Corp.

33,172

373,517

NOV,

Inc.

(b)

16,311

243,849

Ovintiv

,

Inc.

10,897

260,765

Renewable

Energy

Group,

Inc.

(a),(b)

1,824

101,268

Southwestern

Energy

Co.

(b)

27,035

115,439

Targa

Resources

Corp.

9,767

338,817

4,122,284

Financials

–

17.7%

Affiliated

Managers

Group,

Inc.

1,880

303,000

American

Equity

Investment

Life

Holding

Co.

3,609

111,807

American

National

Group,

Inc.

391

44,320

Ameris

Bancorp

2,939

158,970

Ares

Management

Corp.,

Class

A

4,540

238,441

Artisan

Partners

Asset

Management,

Inc.,

Class

A

2,550

129,846

Associated

Banc-Corp.

6,604

144,562

Assured

Guaranty

Ltd.

3,300

167,805

Athene

Holding

Ltd.,

Class

A

(b)

5,233

312,253

Atlantic

Union

Bankshares

Corp.

3,584

138,593

Axis

Capital

Holdings

Ltd.

3,411

190,334

BancorpSouth

Bank

4,313

127,622

Bank

of

Hawaii

Corp.

1,689

153,513

Bank

OZK

5,179

212,287

BankUnited

,

Inc.

3,972

185,135

Blackstone

Mortgage

Trust,

Inc.,

Class

A

(c)

6,266

203,582

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

17.7%

(continued)

BOK

Financial

Corp.

(a)

1,312

115,377

Brighthouse

Financial,

Inc.

(b)

3,732

174,620

Cannae

Holdings,

Inc.

(b)

3,486

138,394

Capitol

Federal

Financial,

Inc.

4,914

63,513

Cathay

General

Bancorp

3,108

125,812

Chimera

Investment

Corp.

(c)

9,826

129,114

CIT

Group,

Inc.

4,262

227,122

CNO

Financial

Group,

Inc.

5,994

153,027

Cohen

&

Steers,

Inc.

892

60,674

Columbia

Banking

System,

Inc.

3,192

138,948

Comerica,

Inc.

5,712

429,314

Community

Bank

System,

Inc.

2,234

173,425

Credit

Acceptance

Corp.

(a),(b)

489

193,052

Cullen/Frost

Bankers,

Inc.

2,345

281,541

CVB

Financial

Corp.

4,956

105,117

East

West

Bancorp,

Inc.

5,992

456,291

Eastern

Bankshares

,

Inc.

7,689

164,006

eHealth,

Inc.

(a),(b)

1,021

72,226

Enstar

Group

Ltd.

(b)

553

138,903

Essent

Group

Ltd.

4,622

243,025

Evercore

,

Inc.,

Class

A

1,761

246,769

Federated

Hermes,

Inc.,

Class

B

3,783

108,950

First

American

Financial

Corp.

4,454

287,283

First

Citizens

BancShares

,

Inc.,

Class

A

(a)

328

284,527

First

Financial

Bankshares

,

Inc.

(a)

6,060

297,425

First

Hawaiian,

Inc.

5,460

149,932

First

Horizon

National

Corp.

23,695

433,382

FirstCash

,

Inc.

1,679

120,938

FNB

Corp.

13,537

174,492

Fulton

Financial

Corp.

6,835

116,537

Genworth

Financial,

Inc.,

Class

A

(b)

21,303

92,029

Glacier

Bancorp,

Inc.

4,062

239,455

Goosehead

Insurance,

Inc.,

Class

A

711

78,167

Green

Dot

Corp.,

Class

A

(b)

2,181

99,803

Hamilton

Lane,

Inc.,

Class

A

1,317

119,123

Hancock

Whitney

Corp.

3,811

176,221

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

(a)(c)

3,125

163,750

Hanover

Insurance

Group,

Inc.

(The)

1,566

216,593

Hilltop

Holdings,

Inc.

2,770

97,504

Home

Bancshares,

Inc.

6,584

183,233

Houlihan

Lokey

,

Inc.,

Class

A

2,075

137,510

Independent

Bank

Corp.

1,395

114,250

Independent

Bank

Group,

Inc.

1,483

111,981

Interactive

Brokers

Group,

Inc.,

Class

A

3,392

242,596

International

Bancshares

Corp.

2,495

118,238

Invesco

Ltd.

15,827

427,329

Investors

Bancorp,

Inc.

9,810

143,618

Janus

Henderson

Group

PLC

7,183

247,023

Jefferies

Financial

Group,

Inc.

8,925

290,152

Kemper

Corp.

2,579

201,317

Kinsale

Capital

Group,

Inc.

877

152,607

Lemonade,

Inc.

(a),(b)

691

62,466

LendingTree

,

Inc.

(a),(b)

427

88,171

LPL

Financial

Holdings,

Inc.

3,358

526,199

Mercury

General

Corp.

1,168

72,731

MGIC

Investment

Corp.

14,534

221,498

Moelis

&

Co.,

Class

A

2,415

131,086

Mr

Cooper

Group,

Inc.

(b)

3,031

104,509

New

Residential

Investment

Corp.

(c)

18,349

196,701

New

York

Community

Bancorp,

Inc.

18,729

223,999

Old

National

Bancorp

7,035

132,961

32

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

17.7%

(continued)

Old

Republic

International

Corp.

11,880

292,486

OneMain

Holdings,

Inc.,

Class

A

3,444

195,860

Open

Lending

Corp.,

Class

A

(b)

4,138

161,589

Pacific

Premier

Bancorp,

Inc.

3,986

175,504

PacWest

Bancorp

4,919

213,534

Palomar

Holdings,

Inc.,

Class

A

(b)

832

58,539

PennyMac

Financial

Services,

Inc.

1,593

95,915

People's

United

Financial,

Inc.

17,331

314,211

Pinnacle

Financial

Partners,

Inc.

3,224

282,551

Popular,

Inc.

3,562

263,445

Primerica,

Inc.

1,651

263,780

Prog

Holdings,

Inc.

2,726

138,862

Prosperity

Bancshares,

Inc.

3,917

287,351

Radian

Group,

Inc.

8,371

206,261

RLI

Corp.

1,673

186,473

Rocket

Cos.,

Inc.,

Class

A

4,983

111,868

Root,

Inc.,

Class

A

(a),(b)

1,168

12,579

Santander

Consumer

USA

Holdings,

Inc.

2,962

100,530

Selective

Insurance

Group,

Inc.

2,554

194,462

Selectquote

,

Inc.

(b)

1,796

55,909

ServisFirst

Bancshares,

Inc.

1,983

125,405

Signature

Bank

2,403

604,379

Simmons

First

National

Corp.,

Class

A

4,598

131,043

SLM

Corp.

15,799

310,608

South

State

Corp.

3,054

257,513

Starwood

Property

Trust,

Inc.

(c)

11,997

309,763

Sterling

Bancorp

8,349

209,810

Stifel

Financial

Corp.

4,398

304,298

Synovus

Financial

Corp.

6,353

297,702

TCF

Financial

Corp.

6,451

293,650

Texas

Capital

Bancshares,

Inc.

(b)

2,133

146,388

TFS

Financial

Corp.

2,632

51,482

Tradeweb

Markets,

Inc.,

Class

A

4,246

345,115

Trupanion

,

Inc.

(b)

1,338

108,512

UMB

Financial

Corp.

1,900

184,357

Umpqua

Holdings

Corp.

9,964

185,729

United

Bankshares

,

Inc.

5,566

218,577

United

Community

Banks,

Inc.

3,922

128,328

Unum

Group

8,647

244,364

Valley

National

Bancorp

17,109

235,591

Virtu

Financial,

Inc.,

Class

A

3,390

100,446

Walker

&

Dunlop,

Inc.

1,229

136,235

Washington

Federal,

Inc.

3,074

100,059

Webster

Financial

Corp.

4,002

211,746

WesBanco

,

Inc.

2,963

107,527

Western

Alliance

Bancorp

4,353

457,370

White

Mountains

Insurance

Group

Ltd.

122

142,182

Wintrust

Financial

Corp.

2,465

190,051

Zions

Bancorp

NA

6,804

379,663

24,168,228

Health

Care

–

12.4%

1Life

Healthcare,

Inc.

(b)

3,140

136,621

Acadia

Healthcare

Co.,

Inc.

(b)

3,808

231,983

Acceleron

Pharma,

Inc.

(b)

2,237

279,558

Accolade,

Inc.

(a),(b)

563

28,234

Adaptive

Biotechnologies

Corp.

(b)

3,562

148,179

Agios

Pharmaceuticals,

Inc.

(b)

2,526

140,951

Alkermes

PLC

(b)

6,543

143,979

Allakos

,

Inc.

(b)

1,338

146,003

Allogene

Therapeutics,

Inc.

(a),(b)

2,834

87,627

American

Well

Corp.,

Class

A

(a),(b)

2,123

32,673

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

12.4%

(continued)

Amicus

Therapeutics,

Inc.

(b)

10,991

108,151

AMN

Healthcare

Services,

Inc.

(b)

2,013

159,631

Apellis

Pharmaceuticals,

Inc.

(b)

2,518

127,587

Arena

Pharmaceuticals,

Inc.

(b)

2,580

177,065

Arrowhead

Pharmaceuticals,

Inc.

(a),(b)

4,370

317,961

Atea

Pharmaceuticals,

Inc.

(a),(b)

503

12,429

Axsome

Therapeutics,

Inc.

(a),(b)

1,093

66,083

Berkeley

Lights,

Inc.

(a),(b)

353

17,336

Biohaven

Pharmaceutical

Holding

Co

Ltd.

(b)

2,253

169,200

Bluebird

Bio,

Inc.

(b)

2,689

80,670

Blueprint

Medicines

Corp.

(b)

2,460

236,947

Bridgebio

Pharma,

Inc.

(b)

4,113

229,999

Cantel

Medical

Corp.

(b)

1,592

139,953

Caredx

,

Inc.

(b)

2,207

174,507

Change

Healthcare,

Inc.

(b)

9,625

220,894

ChemoCentryx

,

Inc.

(b)

2,082

100,623

CONMED

Corp.

1,227

172,946

Corcept

Therapeutics,

Inc.

(b)

4,515

102,897

Covetrus

,

Inc.

(a),(b)

4,112

117,809

CRISPR

Therapeutics

AG

(b)

2,740

359,680

Deciphera

Pharmaceuticals,

Inc.

(b)

1,634

75,769

Denali

Therapeutics,

Inc.

(b)

3,379

204,227

Editas

Medicine,

Inc.,

Class

A

(a),(b)

2,870

106,219

Emergent

BioSolutions

,

Inc.

(b)

1,862

113,545

Ensign

Group,

Inc.

(The)

2,159

185,350

Envista

Holdings

Corp.

(a),(b)

6,815

294,953

Fate

Therapeutics,

Inc.

(b)

3,373

294,766

FibroGen

,

Inc.

(a),(b)

3,423

76,401

Forma

Therapeutics

Holdings,

Inc.

(b)

808

21,776

Glaukos

Corp.

(a),(b)

1,958

184,365

Global

Blood

Therapeutics,

Inc.

(b)

2,575

105,008

Globus

Medical,

Inc.,

Class

A

(b)

3,260

233,970

Goodrx

Holdings,

Inc.,

Class

A

(a),(b)

1,667

66,697

Haemonetics

Corp.

(b)

2,126

142,995

Halozyme

Therapeutics,

Inc.

(b)

5,345

266,983

HealthEquity

,

Inc.

(b)

3,498

265,743

ICU

Medical,

Inc.

(b)

814

169,532

Immunovant

,

Inc.

(a),(b)

2,114

33,148

Inari

Medical,

Inc.

(b)

358

40,916

Inovio

Pharmaceuticals,

Inc.

(a),(b)

8,774

59,751

Insmed

,

Inc.

(b)

4,317

145,612

Inspire

Medical

Systems,

Inc.

(b)

1,153

273,053

Integer

Holdings

Corp.

(b)

1,393

130,775

Integra

LifeSciences

Holdings

Corp.

(b)

2,971

220,092

Intra-Cellular

Therapies,

Inc.

(b)

2,960

101,913

Invitae

Corp.

(a),(b)

7,316

255,328

Iovance

Biotherapeutics

,

Inc.

(a),(b)

5,827

183,201

iRhythm

Technologies,

Inc.

(b)

1,171

91,174

Karuna

Therapeutics,

Inc.

(b)

795

88,253

Kodiak

Sciences,

Inc.

(a),(b)

1,340

161,926

LivaNova

PLC

(b)

2,097

177,972

Madrigal

Pharmaceuticals,

Inc.

(b)

428

58,251

Medpace

Holdings,

Inc.

(b)

1,155

195,980

Merit

Medical

Systems,

Inc.

(b)

2,122

134,959

Natera

,

Inc.

(b)

3,311

364,276

Nektar

Therapeutics,

Class

A

(b)

7,574

148,526

Neogen

Corp.

(b)

2,265

217,463

NeoGenomics

,

Inc.

(a),(b)

4,940

242,011

Nevro

Corp.

(b)

1,429

246,945

Novavax

,

Inc.

(a),(b)

2,860

677,620

NuVasive

,

Inc.

(b)

2,187

156,261

Omnicell

,

Inc.

(b)

1,815

263,211

33

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

12.4%

(continued)

OPKO

Health,

Inc.

(a),(b)

17,925

73,493

Option

Care

Health,

Inc.

(b)

3,673

70,081

Outset

Medical,

Inc.

(b)

820

49,134

Pacific

Biosciences

of

California,

Inc.

(b)

8,146

243,158

Pacira

BioSciences

,

Inc.

(b)

1,854

117,136

Patterson

Cos.,

Inc.

3,694

118,725

Premier,

Inc.,

Class

A

2,943

104,035

Prestige

Consumer

Healthcare,

Inc.

(b)

2,155

93,872

Progyny

,

Inc.

(b)

1,567

89,178

PTC

Therapeutics,

Inc.

(b)

3,006

123,877

R1

RCM,

Inc.

(b)

5,194

141,692

Reata

Pharmaceuticals,

Inc.,

Class

A

(a),(b)

1,111

112,655

Relay

Therapeutics,

Inc.

(b)

874

27,715

Replimune

Group,

Inc.

(b)

1,112

40,688

REVOLUTION

Medicines,

Inc.

(b)

2,021

67,077

Sage

Therapeutics,

Inc.

(a),(b)

2,182

171,854

Schrodinger,

Inc.

(a),(b)

1,553

118,401

Select

Medical

Holdings

Corp.

(b)

4,596

173,361

Seres

Therapeutics,

Inc.

(b)

2,277

47,384

Shockwave

Medical,

Inc.

(b)

1,341

219,200

Silk

Road

Medical,

Inc.

(b)

1,430

87,430

Springworks

Therapeutics,

Inc.

(b)

1,129

81,130

STAAR

Surgical

Co.

(b)

1,964

269,088

Syneos

Health,

Inc.,

Class

A

(b)

3,462

293,751

Tenet

Healthcare

Corp.

(b)

4,479

265,426

TG

Therapeutics,

Inc.

(a),(b)

4,876

218,006

Turning

Point

Therapeutics,

Inc.

(b)

1,773

135,156

Twist

Bioscience

Corp.

(b)

1,759

236,040

Ultragenyx

Pharmaceutical,

Inc.

(a),(b)

2,623

292,832

Uniqure

NV

(b)

1,606

51,826

United

Therapeutics

Corp.

(b)

1,883

379,537

Vaxcyte

,

Inc.

(a),(b)

759

14,095

Veracyte

,

Inc.

(b)

2,847

141,638

Vir

Biotechnology,

Inc.

(b)

2,749

131,237

Xencor

,

Inc.

(a),(b)

2,403

102,272

16,847,272

Industrials

–

17.1%

AAON,

Inc.

(a)

1,682

110,020

ABM

Industries,

Inc.

2,856

146,827

Acuity

Brands,

Inc.

1,564

290,153

ADT,

Inc.

5,772

53,102

Advanced

Drainage

Systems,

Inc.

2,065

230,578

Aerojet

Rocketdyne

Holdings,

Inc.

2,945

137,590

AGCO

Corp.

2,667

389,169

Air

Lease

Corp.,

Class

A

4,530

211,596

Alaska

Air

Group,

Inc.

(b)

5,232

361,740

Allegiant

Travel

Co.,

Class

A

(b)

556

131,066

Allison

Transmission

Holdings,

Inc.

4,660

193,250

Altra

Industrial

Motion

Corp.

2,663

157,144

American

Airlines

Group,

Inc.

(a),(b)

26,869

583,595

APi

Group

Corp.

(b)(d)

6,273

133,364

Applied

Industrial

Technologies,

Inc.

1,656

158,413

Arcosa

,

Inc.

1,914

115,395

Armstrong

World

Industries,

Inc.

2,020

209,373

Array

Technologies,

Inc.

(b)

4,514

127,114

ASGN,

Inc.

(b)

2,247

236,339

Avis

Budget

Group,

Inc.

(b)

2,184

195,708

Axon

Enterprise,

Inc.

(b)

2,659

403,131

Azek

Co.,

Inc.

(The),

Class

A

(b)

5,181

250,139

Barnes

Group,

Inc.

1,968

98,243

Beacon

Roofing

Supply,

Inc.

(b)

2,576

145,106

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

17.1%

(continued)

Brady

Corp.,

Class

A

2,094

114,270

Brink's

Co.

(The)

2,076

165,914

Builders

FirstSource

,

Inc.

(b)

8,690

422,942

BWX

Technologies,

Inc.

4,032

269,821

CACI

International,

Inc.,

Class

A

(b)

1,054

268,622

Casella

Waste

Systems,

Inc.,

Class

A

(b)

2,008

134,757

Chart

Industries,

Inc.

(a),(b)

1,489

239,178

Cimpress

PLC

(b)

881

83,924

Clean

Harbors,

Inc.

(b)

2,188

194,644

Colfax

Corp.

(a),(b)

4,838

218,629

CoreLogic

,

Inc.

3,038

242,129

Crane

Co.

2,094

196,962

Curtiss-Wright

Corp.

1,759

224,976

Donaldson

Co.,

Inc.

5,276

331,755

Dycom

Industries,

Inc.

(b)

1,306

122,516

EMCOR

Group,

Inc.

2,325

278,535

EnerSys

1,817

166,401

ESCO

Technologies,

Inc.

1,118

121,594

Evoqua

Water

Technologies

Corp.

(b)

4,984

142,443

Exponent,

Inc.

2,187

210,674

Federal

Signal

Corp.

2,579

106,848

Flowserve

Corp.

5,443

215,760

Franklin

Electric

Co.,

Inc.

1,645

133,689

FTI

Consulting,

Inc.

(b)

1,414

196,334

Gates

Industrial

Corp.

PLC

(b)

2,818

48,610

GATX

Corp.

(a)

1,420

138,748

GrafTech

International

Ltd.

5,629

71,601

Healthcare

Services

Group,

Inc.

3,130

93,743

Hexcel

Corp.

(a),(b)

3,482

196,420

Hillenbrand,

Inc.

3,195

156,843

Hyliion

Holdings

Corp.

(a),(b)

4,106

42,826

Insperity

,

Inc.

1,565

137,000

ITT,

Inc.

3,698

348,758

JELD-WEN

Holding,

Inc.

(b)

3,022

88,152

JetBlue

Airways

Corp.

(a),(b)

13,325

271,297

John

Bean

Technologies

Corp.

1,307

190,012

KAR

Auction

Services,

Inc.

(b)

5,058

75,819

KBR,

Inc.

6,087

240,802

Kennametal,

Inc.

3,555

142,769

Kirby

Corp.

(b)

2,543

161,989

Korn

Ferry

2,357

160,017

Kratos

Defense

&

Security

Solutions,

Inc.

(b)

5,054

135,144

Landstar

System,

Inc.

1,647

283,745

Lincoln

Electric

Holdings,

Inc.

2,521

322,814

Macquarie

Infrastructure

Corp.

2,875

95,766

ManpowerGroup

,

Inc.

2,384

288,202

ManTech

International

Corp.,

Class

A

1,121

95,677

Masonite

International

Corp.

(b)

1,028

129,826

MasTec

,

Inc.

(a),(b)

2,378

248,168

Matson,

Inc.

1,822

119,031

Mercury

Systems,

Inc.

(b)

2,315

174,181

Meritor,

Inc.

(b)

3,101

83,820

Middleby

Corp.

(The)

(a),(b)

2,355

427,009

Moog,

Inc.,

Class

A

1,289

111,563

MSA

Safety,

Inc.

1,535

246,767

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

1,966

177,255

Navistar

International

Corp.

(b)

2,197

97,217

Nielsen

Holdings

PLC

15,006

384,904

nVent

Electric

PLC

7,095

216,043

Oshkosh

Corp.

2,888

359,354

Parsons

Corp.

(a),(b)

930

41,227

Plug

Power,

Inc.

(b)

21,173

603,642

34

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

17.1%

(continued)

Proto

Labs,

Inc.

(b)

1,099

123,154

RBC

Bearings,

Inc.

(b)

1,056

210,598

Regal

Beloit

Corp.

1,735

250,586

Rexnord

Corp.

5,135

256,391

Robert

Half

International,

Inc.

4,695

411,329

Rush

Enterprises,

Inc.,

Class

A

1,788

88,256

Ryder

System,

Inc.

2,299

183,552

Saia,

Inc.

(b)

1,117

261,936

Schneider

National,

Inc.,

Class

B

1,644

39,834

Science

Applications

International

Corp.

2,439

218,095

Simpson

Manufacturing

Co.,

Inc.

1,816

204,663

SiteOne

Landscape

Supply,

Inc.

(a),(b)

1,873

335,979

Spirit

AeroSystems

Holdings,

Inc.,

Class

A

4,422

202,041

SPX

Corp.

(b)

1,907

115,679

Stericycle,

Inc.

(b)

3,833

292,381

Tetra

Tech,

Inc.

2,289

292,145

Timken

Co.

(The)

2,890

242,384

TriNet

Group,

Inc.

(b)

1,661

130,737

Trinity

Industries,

Inc.

(a)

3,364

92,981

Triton

International

Ltd.

2,879

144,439

UFP

Industries,

Inc.

2,614

219,681

UniFirst

Corp.

614

137,653

Univar

Solutions,

Inc.

(b)

6,927

161,745

Upwork

,

Inc.

(b)

3,864

177,976

Valmont

Industries,

Inc.

898

221,671

Vicor

Corp.

(b)

895

82,546

Virgin

Galactic

Holdings,

Inc.

(a),(b)

5,360

118,724

Watts

Water

Technologies,

Inc.,

Class

A

1,137

141,613

Werner

Enterprises,

Inc.

2,435

112,570

WESCO

International,

Inc.

(b)

1,841

168,857

Willscot

Mobile

Mini

Holdings

Corp.,

Class

A

(b)

7,844

229,594

Woodward,

Inc.

2,435

304,399

23,252,422

Information

Technology

–

13.9%

8x8,

Inc.

(b)

4,596

151,162

ACI

Worldwide,

Inc.

(b)

4,864

183,762

Advanced

Energy

Industries,

Inc.

1,582

174,510

Alarm.com

Holdings,

Inc.

(b)

1,930

173,237

Allegro

Microsystems,

Inc.

(b)

1,775

43,807

Alliance

Data

Systems

Corp.

2,067

243,596

Ambarella

,

Inc.

(b)

1,448

141,166

Amkor

Technology,

Inc.

4,367

88,301

Appfolio

,

Inc.,

Class

A

(a),(b)

748

108,183

Appian

Corp.,

Class

A

(a),(b)

1,647

199,583

Arrow

Electronics,

Inc.

(b)

3,239

369,473

Avnet,

Inc.

4,229

185,738

Badger

Meter,

Inc.

1,206

112,628

BigCommerce

Holdings,

Inc.,

Series

1

(a),(b)

502

30,090

Blackbaud

,

Inc.

(b)

2,125

151,130

Blackline,

Inc.

(a),(b)

2,201

255,448

Box,

Inc.,

Class

A

(b)

6,108

130,100

Brooks

Automation,

Inc.

3,158

320,000

CDK

Global,

Inc.

5,187

277,971

Cerence

,

Inc.

(a),(b)

1,598

154,063

Cirrus

Logic,

Inc.

(b)

2,407

179,105

Cloudera,

Inc.

(b)

8,728

110,758

CMC

Materials,

Inc.

1,252

229,654

Coherent,

Inc.

(b)

1,029

267,530

CommScope

Holding

Co,

Inc.

(b)

8,542

140,516

CommVault

Systems,

Inc.

(b)

2,023

140,619

Cornerstone

OnDemand

,

Inc.

(b)

2,493

110,353

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

13.9%

(continued)

Corsair

Gaming,

Inc.

(a),(b)

875

29,032

Datto

Holding

Corp.

(a),(b)

1,001

25,576

Digital

Turbine,

Inc.

(b)

3,191

240,697

Diodes,

Inc.

(b)

1,814

139,333

Dolby

Laboratories,

Inc.,

Class

A

2,754

279,448

Dropbox,

Inc.,

Class

A

(b)

12,527

321,944

Duck

Creek

Technologies,

Inc.

(a),(b)

1,294

53,804

DXC

Technology

Co.

(b)

10,786

354,967

Envestnet

,

Inc.

(b)

2,217

163,681

Euronet

Worldwide,

Inc.

(b)

2,208

316,693

Everbridge

,

Inc.

(a),(b)

1,541

204,506

EVERTEC,

Inc.

2,449

97,715

ExlService

Holdings,

Inc.

(b)

1,477

136,445

Fabrinet

(b)

1,560

133,567

Fastly

,

Inc.,

Class

A

(a),(b)

3,582

228,782

FireEye,

Inc.

(b)

10,054

199,823

FLIR

Systems,

Inc.

5,480

328,636

FormFactor

,

Inc.

(b)

3,225

126,259

II-VI,

Inc.

(a),(b)

4,353

292,260

Insight

Enterprises,

Inc.

(b)

1,511

151,659

InterDigital

,

Inc.

1,316

91,357

Itron

,

Inc.

(b)

1,840

165,490

J2

Global,

Inc.

(a),(b)

1,819

220,099

Jabil,

Inc.

5,880

308,230

Jamf

Holding

Corp.

(b)

1,174

42,875

Lattice

Semiconductor

Corp.

(b)

5,764

289,987

Littelfuse

,

Inc.

1,024

271,606

LivePerson

,

Inc.

(a),(b)

2,708

147,992

LiveRamp

Holdings,

Inc.

(b)

2,717

133,079

MACOM

Technology

Solutions

Holdings,

Inc.

(b)

1,988

112,541

Manhattan

Associates,

Inc.

(b)

2,669

366,294

MAXIMUS,

Inc.

2,635

241,471

MaxLinear

,

Inc.,

Class

A

(b)

2,828

101,780

McAfee

Corp.,

Class

A

(a)

1,596

38,751

Medallia

,

Inc.

(a),(b)

3,307

97,523

Mimecast

Ltd.

(b)

2,347

101,907

MKS

Instruments,

Inc.

2,307

413,207

National

Instruments

Corp.

5,509

228,128

NCR

Corp.

(b)

5,471

250,298

New

Relic,

Inc.

(b)

2,314

148,790

Novanta

,

Inc.

(b)

1,459

192,165

Nutanix

,

Inc.,

Class

A

(b)

8,242

222,864

PagerDuty

,

Inc.

(a),(b)

2,309

98,040

Palantir

Technologies,

Inc.,

Class

A

(a),(b)

18,437

424,788

Perspecta

,

Inc.

5,991

175,357

Ping

Identity

Holding

Corp.

(a),(b)

1,316

31,953

Plexus

Corp.

(b)

1,255

116,012

Power

Integrations,

Inc.

2,484

205,700

Progress

Software

Corp.

1,901

82,998

Proofpoint

,

Inc.

(b)

2,416

415,818

Pure

Storage,

Inc.,

Class

A

(b)

10,307

208,408

Q2

Holdings,

Inc.

(a),(b)

2,229

231,861

Qualys

,

Inc.

(b)

1,389

140,789

Rackspace

Technology,

Inc.

(b)

1,446

35,962

Rapid7,

Inc.

(a),(b)

2,267

184,194

Rogers

Corp.

(b)

806

157,847

Sabre

Corp.

(a),(b)

13,606

203,818

Sailpoint

Technologies

Holdings,

Inc.

(a),(b)

3,812

186,140

Sanmina

Corp.

(b)

2,723

111,207

Semtech

Corp.

(b)

2,702

183,033

Silicon

Laboratories,

Inc.

(b)

1,843

259,771

SPS

Commerce,

Inc.

(b)

1,504

154,070

35

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

13.9%

(continued)

Sunpower

Corp.,

Class

A

(a),(b)

3,354

86,164

SVMK,

Inc.

(b)

4,794

86,244

Synaptics

,

Inc.

(a),(b)

1,477

206,588

Tenable

Holdings,

Inc.

(b)

2,736

102,586

Teradata

Corp.

(b)

4,561

225,633

TTEC

Holdings,

Inc.

756

76,908

Varonis

Systems,

Inc.,

Class

B

(b)

4,343

229,962

Velodyne

Lidar,

Inc.

(b)

1,382

19,030

Verint

Systems,

Inc.

(a),(b)

2,834

137,647

ViaSat

,

Inc.

(b)

2,653

137,399

Viavi

Solutions,

Inc.

(b)

9,381

153,473

Vishay

Intertechnology

,

Inc.

5,688

139,754

Vontier

Corp.

(b)

6,992

219,129

WEX,

Inc.

(b)

1,855

380,665

Workiva

,

Inc.,

Class

A

(b)

1,781

167,414

Xerox

Holdings

Corp.

7,179

173,301

Yext

,

Inc.

(b)

4,061

56,651

18,890,058

Materials

–

5.4%

Alcoa

Corp.

(b)

7,958

291,581

Arconic

Corp.

(b)

3,969

113,513

Ashland

Global

Holdings,

Inc.

2,430

209,490

Avient

Corp.

3,917

198,866

Axalta

Coating

Systems

Ltd.

(b)

8,719

278,049

Balchem

Corp.

1,394

177,303

Berry

Global

Group,

Inc.

(b)

5,585

355,318

Cabot

Corp.

2,428

133,249

Chemours

Co.

(The)

6,805

205,511

Cleveland-Cliffs,

Inc.

(a)

19,162

342,233

Commercial

Metals

Co.

5,096

148,905

Compass

Minerals

International,

Inc.

1,453

98,688

Eagle

Materials,

Inc.

1,786

246,718

Element

Solutions,

Inc.

9,382

205,278

Graphic

Packaging

Holding

Co.

11,522

213,733

Greif,

Inc.,

Class

A

1,119

67,711

HB

Fuller

Co.

2,206

147,405

Hecla

Mining

Co.

22,445

132,650

Huntsman

Corp.

8,426

241,573

Ingevity

Corp.

(b)

1,767

137,967

Innospec

,

Inc.

1,039

101,209

Louisiana-Pacific

Corp.

4,745

312,601

Minerals

Technologies,

Inc.

1,461

114,163

NewMarket

Corp.

279

96,699

Olin

Corp.

6,016

258,868

Pactiv

Evergreen,

Inc.

1,459

21,476

Quaker

Chemical

Corp.

(a)

510

123,599

Sealed

Air

Corp.

6,301

311,269

Sensient

Technologies

Corp.

1,816

149,348

Silgan

Holdings,

Inc.

3,325

140,215

Sonoco

Products

Co.

4,256

278,598

Steel

Dynamics,

Inc.

8,453

458,322

Stepan

Co.

888

116,026

Summit

Materials,

Inc.,

Class

A

(b)

4,839

139,315

U.S.

Steel

Corp.

(a)

10,958

252,144

Valvoline,

Inc.

7,931

249,033

Worthington

Industries,

Inc.

1,567

102,262

WR

Grace

&

Co.

2,497

171,619

7,342,507

Real

Estate

–

8.3%

Agree

Realty

Corp.

(c)

2,649

186,384

American

Campus

Communities,

Inc.

(c)

5,803

262,354

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Real

Estate

–

8.3%

(continued)

Apartment

Investment

&

Management

Co.,

Class

A

(c)

6,138

42,598

Apple

Hospitality

REIT,

Inc.

(c)

8,986

142,518

Brixmor

Property

Group,

Inc.

(c)

12,462

278,401

Broadstone

Net

Lease,

Inc.,

Class

A

(c)

1,522

30,714

CareTrust

REIT,

Inc.

(c)

4,262

103,055

CoreSite

Realty

Corp.

(c)

1,765

214,430

Corporate

Office

Properties

Trust

(c)

4,731

132,657

Cousins

Properties,

Inc.

(c)

6,270

229,921

CubeSmart

(c)

8,367

354,259

Cushman

&

Wakefield

PLC

(b)

4,380

74,460

Douglas

Emmett,

Inc.

(c)

6,956

233,304

Easterly

Government

Properties,

Inc.

(c)

3,137

67,226

EastGroup

Properties,

Inc.

(c)

1,674

265,597

EPR

Properties

(c)

3,169

151,193

Equity

Commonwealth

(c)

5,037

145,066

eXp

World

Holdings,

Inc.

(a),(b)

2,341

80,437

Federal

Realty

Investment

Trust

(c)

2,908

328,139

First

Industrial

Realty

Trust,

Inc.

(c)

5,454

271,446

Four

Corners

Property

Trust,

Inc.

(c)

2,990

86,321

Healthcare

Realty

Trust,

Inc.

(c)

5,794

186,335

Healthcare

Trust

of

America,

Inc.,

Class

A

(c)

9,184

269,734

Highwoods

Properties,

Inc.

(c)

4,451

199,360

Howard

Hughes

Corp.

(The)

(b)

1,897

204,762

Hudson

Pacific

Properties,

Inc.

(c)

6,423

180,550

Innovative

Industrial

Properties,

Inc.,

Class

A

(a)(c)

1,015

185,877

JBG

SMITH

Properties

(c)

4,540

148,049

Jones

Lang

LaSalle,

Inc.

(b)

2,181

409,832

Kennedy-Wilson

Holdings,

Inc.

5,500

113,025

Kilroy

Realty

Corp.

(c)

4,478

306,922

Kimco

Realty

Corp.

(c)

18,231

382,851

Lamar

Advertising

Co.,

Class

A

(c)

3,689

365,358

Lexington

Realty

Trust,

Class

B

(c)

11,857

145,130

Life

Storage,

Inc.

(c)

3,149

302,493

National

Health

Investors,

Inc.

(c)

1,987

145,866

National

Retail

Properties,

Inc.

(c)

7,336

340,537

National

Storage

Affiliates

Trust

(c)

2,862

130,049

Outfront

Media,

Inc.

(b)(c)

6,182

150,655

Park

Hotels

&

Resorts,

Inc.

(b)(c)

10,302

229,838

Physicians

Realty

Trust

(c)

8,873

166,191

PotlatchDeltic

Corp.

(c)

2,785

165,318

PS

Business

Parks,

Inc.

(c)

920

149,380

QTS

Realty

Trust,

Inc.,

Class

A

(a)(c)

2,634

175,135

Rayonier,

Inc.

(c)

5,654

205,127

Redfin

Corp.

(a),(b)

4,371

309,379

Rexford

Industrial

Realty,

Inc.

(c)

5,476

304,192

Ryman

Hospitality

Properties,

Inc.

(b)(c)

2,354

185,142

Sabra

Health

Care

REIT,

Inc.

(c)

8,799

159,878

Safehold

,

Inc.

(a)(c)

541

38,254

SL

Green

Realty

Corp.

(c)

3,005

222,400

Spirit

Realty

Capital,

Inc.

(c)

4,809

228,620

STAG

Industrial,

Inc.

(c)

6,635

242,244

STORE

Capital

Corp.

(c)

10,098

361,407

Terreno

Realty

Corp.

(c)

2,820

181,946

Weingarten

Realty

Investors

(c)

5,155

166,713

11,339,029

Utilities

–

2.5%

ALLETE,

Inc.

2,186

153,807

American

States

Water

Co.

1,669

132,168

Avista

Corp.

2,888

132,906

Black

Hills

Corp.

2,635

181,762

36

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$14,559,623

and

the

value

of

the

collateral

was

$15,005,449,

consisting

of

cash

collateral

of

$1,224,797

and

U.S.

Government

&

Agency

securities

valued

at

$13,780,652.

(b)

Non-income

producing

security.

(c)

Investment

in

a

real

estate

investment

trust.

(d)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$133,364

or

0.10%

of

net

assets.

(e)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Utilities

–

2.5%

(continued)

California

Water

Service

Group

2,079

122,141

Clearway

Energy,

Inc.,

Class

A

2,800

74,424

Clearway

Energy,

Inc.,

Class

C

1,838

52,732

Hawaiian

Electric

Industries,

Inc.

4,489

193,296

IDACORP,

Inc.

2,233

228,838

MDU

Resources

Group,

Inc.

8,523

285,179

MGE

Energy,

Inc.

1,674

125,232

National

Fuel

Gas

Co.

3,955

196,405

New

Jersey

Resources

Corp.

4,346

182,315

NorthWestern

Corp.

2,125

144,564

ONE

Gas,

Inc.

2,145

172,608

Ormat

Technologies,

Inc.

(a)

1,792

129,741

PNM

Resources,

Inc.

3,666

180,954

Portland

General

Electric

Co.

3,757

191,081

SJW

Group

1,052

68,959

South

Jersey

Industries,

Inc.

(a)

3,922

97,069

Southwest

Gas

Holdings,

Inc.

2,358

164,400

Spire,

Inc.

2,176

163,940

Sunnova

Energy

International,

Inc.

(b)

2,653

93,704

3,468,225

Total

Common

Stocks

(cost

$109,190,312)

136,185,195

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(e)(f)

(cost

$75,174)

75,174

75,174

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.9%

Registered

Investment

Companies

–

0.9%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(b)(e)(f)

(cost

$1,224,797)

1,224,797

1,224,797

Total

Investments

(cost

$110,490,283)

100.9%

137,485,166

Liabilities,

Less

Cash

and

Receivables

(0.9)%

(1,200,378)

Net

Assets

100.0%

136,284,788

REIT—Real

Estate

Investment

Trust

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

53,434

2,625,010

(2,603,270)

—

—

75,174

0.1

9

37

(f)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

See

Notes

to

Financial

Statements

Value

Description

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

696,717

8,620,920

(8,092,840)

—

—

1,224,797

0.9

14,092

2

Total

750,151

11,245,930

(10,696,110)

—

—

1,299,971

1.0

14,101

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financials

17.7

Industrials

17.1

Consumer

Discretionary

14.4

Information

Technology

13.9

Health

Care

12.4

Real

Estate

8.3

Materials

5.4

Consumer

Staples

3.2

Energy

3.0

Utilities

2.5

Communication

Services

2.0

Registered

Investment

Companies

1.0

100.9

†

Based

on

net

assets.

38

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

International

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

98.9%

Australia

–

7.3%

Afterpay

Ltd.

(a)

578

52,528

APA

Group

3,013

23,344

Aristocrat

Leisure

Ltd.

1,625

46,657

ASX

Ltd.

493

27,792

Australia

&

New

Zealand

Banking

Group

Ltd.

7,294

161,928

BHP

Group

Ltd.

7,302

269,049

BHP

Group

PLC

5,348

161,753

Brambles

Ltd.

4,044

32,487

Cochlear

Ltd.

164

28,187

Coles

Group

Ltd.

3,275

41,286

Commonwealth

Bank

of

Australia

4,384

301,527

CSL

Ltd.

1,128

236,268

Dexus

(b)

2,625

20,622

Evolution

Mining

Ltd.

2,615

9,352

Fortescue

Metals

Group

Ltd.

4,339

75,714

Glencore

PLC

(a)

27,629

112,925

Goodman

Group

(b)

4,058

59,275

Insurance

Australia

Group

Ltd.

6,596

24,966

Macquarie

Group

Ltd.

882

109,342

Magellan

Financial

Group

Ltd.

185

6,931

Mirvac

Group

(b)

9,588

19,923

National

Australia

Bank

Ltd.

8,051

165,798

Newcrest

Mining

Ltd.

2,387

48,899

Northern

Star

Resources

Ltd.

2,018

16,383

QBE

Insurance

Group

Ltd.

3,660

27,876

Ramsay

Health

Care

Ltd.

463

24,077

REA

Group

Ltd.

118

14,434

Rio

Tinto

Ltd.

938

87,780

Rio

Tinto

PLC

2,684

225,792

Santos

Ltd.

4,665

25,152

Scentre

Group

(b)

13,568

28,507

Sonic

Healthcare

Ltd.

1,165

32,289

South32

Ltd.

12,449

27,695

Stockland

(b)

5,537

20,017

Suncorp

Group

Ltd.

3,049

24,753

Sydney

Airport

(a)

3,020

14,440

Telstra

Corp.

Ltd.

10,601

27,760

Tpg

Telecom

Ltd.

1,564

6,657

Transurban

Group

6,964

76,225

Wesfarmers

Ltd.

2,859

119,498

Westpac

Banking

Corp.

8,852

170,806

Wisetech

Global

Ltd.

371

9,007

Woodside

Petroleum

Ltd.

2,538

44,817

Woolworths

Group

Ltd.

3,108

94,350

3,154,868

Austria

–

0.2%

Erste

Group

Bank

AG

(a)

729

25,976

OMV

AG

384

18,957

Raiffeisen

Bank

International

AG

328

7,182

Verbund

AG,

Class

A

165

13,566

Voestalpine

AG

204

8,866

74,547

Belgium

–

0.9%

Ageas

456

27,644

Anheuser-Busch

InBev

SA/NV

2,132

150,987

Etablissements

Franz

Colruyt

NV

199

11,817

Groupe

Bruxelles

Lambert

SA

252

27,599

KBC

Group

NV

(a)

898

69,855

Sofina

SA

45

17,129

Solvay

SA,

Class

A

177

22,543

UCB

SA

321

29,778

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Belgium

–

0.9%

(continued)

Umicore

SA

511

31,102

388,454

Brazil

–

0.2%

Wheaton

Precious

Metals

Corp.

1,133

46,961

Yara

International

ASA

427

22,342

69,303

Canada

–

8.6%

Agnico

Eagle

Mines

Ltd.

609

38,029

Alimentation

Couche-Tard,

Inc.,

Class

A

161

5,465

Alimentation

Couche-Tard,

Inc.,

Class

B

2,199

74,450

Bank

of

Montreal

1,614

152,203

Bank

of

Nova

Scotia

(The)

3,064

194,943

Barrick

Gold

Corp.

4,277

91,054

BCE,

Inc.

723

34,146

Brookfield

Asset

Management,

Inc.,

Class

A

3,523

160,457

Canadian

Imperial

Bank

of

Commerce

1,125

116,853

Canadian

National

Railway

Co.

1,706

183,511

Canadian

Natural

Resources

Ltd.

2,919

88,529

Canadian

Pacific

Railway

Ltd.

347

129,387

CGI,

Inc.,

Class

A

(a)

609

53,836

Constellation

Software,

Inc.

48

70,386

Enbridge,

Inc.

5,012

193,155

Fortis,

Inc.,

Class

Common

Subscription

Receipt

1,170

52,147

Franco-Nevada

Corp.

477

66,393

George

Weston

Ltd.

173

15,262

Great-West

Lifeco

,

Inc.,

Class

Common

Subscription

Receipt

653

18,918

Hydro

One

Ltd.

(c)

900

21,560

Intact

Financial

Corp.,

Class

Common

Subscription

Receipt

346

45,951

Kirkland

Lake

Gold

Ltd.

700

25,987

Loblaw

Cos.

Ltd.

424

23,523

Magna

International,

Inc.

690

65,107

Manulife

Financial

Corp.,

Class

Common

Subscription

Receipt

4,929

107,539

Metro,

Inc.,

Class

A

700

32,047

National

Bank

of

Canada

819

59,491

Nutrien

Ltd.

1,451

80,028

Pembina

Pipeline

Corp.

1,353

41,727

Power

Corp.

of

Canada

1,400

40,741

Restaurant

Brands

International,

Inc.

759

52,079

Rogers

Communications,

Inc.,

Class

B

903

44,438

Royal

Bank

of

Canada

3,507

334,422

Shopify,

Inc.,

Class

A

(a)

281

331,412

Sun

Life

Financial,

Inc.

1,489

80,260

Suncor

Energy,

Inc.

3,700

79,071

TC

Energy

Corp.

2,354

116,360

TELUS

Corp.

1,017

21,081

Thomson

Reuters

Corp.

422

39,102

Toronto-Dominion

Bank

(The)

4,479

307,654

3,688,704

Chile

–

0.1%

Antofagasta

PLC

836

21,593

China

–

0.5%

Budweiser

Brewing

Co.

Apac

Ltd.

(c)

3,800

12,011

China

Evergrande

New

Energy

Vehicle

Group

Ltd.

(a)

5,500

42,524

Chow

Tai

Fook

Jewellery

Group

Ltd.

4,600

7,427

Prosus

NV

(a)

1,063

115,462

39

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

China

–

0.5%

(continued)

Wilmar

International

Ltd.

8,000

31,389

208,813

Denmark

–

2.1%

AP

Moller

-

Maersk

A/S,

Class

A

9

21,197

AP

Moller

-

Maersk

A/S,

Class

B

15

37,320

Carlsberg

A/S,

Class

B

269

47,267

Chr

Hansen

Holding

A/S

(a)

265

24,391

Coloplast

A/S,

Class

B

296

49,041

Danske

Bank

A/S

1,744

33,326

DSV

Panalpina

A/S

517

115,449

Genmab

A/S

(a)

165

60,630

Novo

Nordisk

A/S,

Class

B

4,125

302,515

Novozymes

A/S,

Class

B

545

38,844

Orsted

A/S

(c)

424

61,922

Vestas

Wind

Systems

A/S

2,510

104,907

896,809

Finland

–

1.2%

Elisa

OYJ

382

21,700

Fortum

OYJ

1,056

27,776

Kesko

OYJ,

Class

A

244

6,991

Kesko

OYJ,

Class

B

593

18,089

Kone

OYJ,

Class

B

1,020

80,229

Neste

OYJ

1,091

66,193

Nokia

OYJ

(a)

14,222

67,497

Nordea

Bank

Abp

8,158

84,863

Sampo

OYJ,

Class

A

1,248

59,358

Stora

ENSO

OYJ,

Class

A

181

3,770

Stora

ENSO

OYJ,

Class

R

1,485

28,477

UPM-

Kymmene

OYJ

1,347

52,780

517,723

France

–

9.7%

Adevinta

ASA,

Class

B

(a)

548

10,059

Air

Liquide

SA

1,176

198,363

Airbus

SE

(a)

1,516

182,387

Amundi

SA

(a)(c)

146

13,023

AXA

SA

5,174

146,525

bioMerieux

123

14,647

BNP

Paribas

SA

(a)

2,883

185,293

Bouygues

SA

639

27,415

Capgemini

SE

399

73,200

Carrefour

SA

1,493

28,945

CIE

de

Saint-Gobain

(a)

1,383

87,405

CIE

Generale

des

Etablissements

Michelin

SCA

455

65,919

Credit

Agricole

SA

(a)

3,224

49,957

Danone

SA

1,661

117,231

Dassault

Systemes

SE

346

80,367

Edenred

585

33,204

Electricite

de

France

SA

(a)

1,109

16,180

Engie

SA

(a)

4,630

68,945

EssilorLuxottica

SA

733

122,122

Hermes

International

87

109,339

Kering

SA

182

146,025

Legrand

SA

669

65,233

L'Oreal

SA

595

244,710

LVMH

Moet

Hennessy

Louis

Vuitton

SE

669

504,305

Orange

SA

5,009

62,409

Pernod

Ricard

SA

506

103,977

Safran

SA

(a)

856

127,962

Sanofi

2,861

300,564

Sartorius

Stedim

Biotech

61

28,051

Schneider

Electric

SE

1,346

215,534

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

France

–

9.7%

(continued)

Societe

Generale

SA

(a)

1,984

56,532

Suez

SA

912

21,804

Teleperformance

149

57,594

Thales

SA

302

30,822

Total

SE

6,291

278,880

Veolia

Environnement

SA

1,262

40,243

Vinci

SA

1,257

138,304

Vivendi

SA

2,168

75,685

Worldline

SA

(a)(c)

534

52,474

4,181,634

Germany

–

7.5%

Adidas

AG

(a)

464

143,467

Allianz

SE

1,043

271,704

BASF

SE

2,340

188,957

Bayer

AG

2,431

157,501

Bayerische

Motoren

Werke

AG

813

81,623

Beiersdorf

AG

250

28,259

Carl

Zeiss

Meditec

AG

74

13,055

Continental

AG

(a)

275

37,289

Daimler

AG

2,099

187,108

Deutsche

Bank

AG

(a)

4,973

69,479

Deutsche

Boerse

AG

479

82,630

Deutsche

Post

AG

2,451

144,442

Deutsche

Telekom

AG

8,149

156,956

Deutsche

Wohnen

SE

910

49,296

E.ON

SE

5,533

66,779

Evonik

Industries

AG

406

14,232

Fresenius

Medical

Care

AG

&

Co.

KGaA

536

42,689

Fresenius

SE

&

Co.

KGaA

1,019

50,146

Hannover

Rueck

SE

154

28,512

HeidelbergCement

AG

312

28,627

Henkel

AG

&

Co.

KGaA

259

25,785

Infineon

Technologies

AG

3,273

132,247

Just

Eat

Takeaway.com

NV

(a)(c)

207

21,430

Merck

KGaA

327

57,531

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

364

105,449

Puma

Se

(a)

215

22,703

RWE

AG

1,672

63,482

SAP

SE

2,717

381,890

Siemens

AG

2,012

336,228

Siemens

Healthineers

AG

(c)

585

33,437

Symrise

AG,

Class

A

323

41,760

Uniper

SE

175

6,392

Vonovia

SE

1,408

92,612

Zalando

SE

(a)(c)

407

42,400

3,206,097

Hong

Kong

–

2.6%

AIA

Group

Ltd.

30,200

384,555

CK

Asset

Holdings

Ltd.

5,000

31,383

CK

Infrastructure

Holdings

Ltd.

1,500

9,193

CLP

Holdings

Ltd.

4,500

44,410

Hang

Lung

Properties

Ltd.

4,000

10,918

Hang

Seng

Bank

Ltd.

1,800

35,342

Henderson

Land

Development

Co.

Ltd.

4,000

17,794

Hong

Kong

&

China

Gas

Co.

Ltd.

27,150

43,555

Hong

Kong

Exchanges

&

Clearing

Ltd.

3,000

181,541

Jardine

Matheson

Holdings

Ltd.

600

40,344

Link

REIT

(b)

5,213

49,299

MTR

Corp.

Ltd.

4,500

25,087

New

World

Development

Co.

Ltd.

3,250

17,198

40

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Hong

Kong

–

2.6%

(continued)

Power

Assets

Holdings

Ltd.

4,000

24,592

Sun

Hung

KAI

Properties

Ltd.

4,000

60,411

Swire

Properties

Ltd.

3,800

11,351

Techtronic

Industries

Co.

Ltd.

4,500

82,041

WH

Group

Ltd.

(c)

23,500

20,544

Wharf

Real

Estate

Investment

Co.

Ltd.

4,000

23,021

1,112,579

Ireland

–

0.6%

CRH

PLC

1,995

94,214

Flutter

Entertainment

PLC

(a)

359

73,403

Kerry

Group

PLC,

Class

A

382

49,572

Kingspan

Group

PLC

359

32,006

249,195

Israel

–

0.3%

Azrieli

Group

Ltd.

87

6,129

Bank

Hapoalim

BM

(a)

2,708

21,625

Bank

Leumi

Le-Israel

BM

(a)

3,748

26,440

Elbit

Systems

Ltd.

58

7,992

ICL

Group

Ltd.

1,226

7,881

Mizrahi

Tefahot

Bank

Ltd.

(a)

319

9,000

Nice

Ltd.

(a)

158

38,232

Teva

Pharmaceutical

Industries

Ltd.

(a)

2,709

28,273

145,572

Italy

–

1.8%

Assicurazioni

Generali

SpA

(a)

3,070

61,662

Atlantia

SpA

(a)

1,271

24,825

Davide

Campari-Milano

NV

1,013

11,965

DiaSorin

SpA

43

7,312

ENEL

SpA

19,359

192,657

ENI

SpA

6,514

77,867

Ferrari

NV

323

69,270

Finecobank

Banca

Fineco

SpA

(a)

1,451

25,013

Infrastrutture

Wireless

Italiane

SpA

(c)

951

11,105

Intesa

Sanpaolo

SpA

(a)

44,107

123,236

Moncler

SpA

(a)

456

28,006

Nexi

SpA

(a)(c)

748

14,353

Poste

Italiane

SpA

(c)

1,108

14,538

Recordati

Industria

Chimica

e

Farmaceutica

SpA

244

13,464

Snam

SpA

5,522

31,110

Terna

Rete

Elettrica

Nazionale

SpA

3,580

26,418

UniCredit

SpA

5,345

55,090

787,891

Japan

–

22.3%

ACOM

Co.

Ltd.

1,100

4,720

Advantest

Corp.

500

47,482

AEON

Co.

Ltd.

2,200

60,029

AGC,

Inc.

500

22,780

Aisin

Corp.

400

15,406

Ajinomoto

Co.,

Inc.

1,500

30,005

ANA

Holdings,

Inc.

(a)

300

6,875

Asahi

Group

Holdings

Ltd.

1,200

50,117

Asahi

Intecc

Co.

Ltd.

500

13,458

Asahi

Kasei

Corp.

3,400

35,818

Astellas

Pharma,

Inc.

4,600

69,039

Bandai

Namco

Holdings,

Inc.

600

44,057

Bridgestone

Corp.

1,500

60,066

Canon,

Inc.

2,700

64,298

Capcom

Co.

Ltd.

400

12,991

Central

Japan

Railway

Co.

500

73,121

Chubu

Electric

Power

Co.,

Inc.

1,500

18,121

Chugai

Pharmaceutical

Co.

Ltd.

1,600

60,030

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.3%

(continued)

Cyberagent,

Inc.

800

16,453

DAI

Nippon

Printing

Co.

Ltd.

800

15,889

Daifuku

Co.

Ltd.

300

29,697

Dai-ichi

Life

Holdings,

Inc.

2,700

48,551

Daiichi

Sankyo

Co.

Ltd.

4,600

117,288

Daikin

Industries

Ltd.

700

140,442

Daito

Trust

Construction

Co.

Ltd.

200

21,262

Daiwa

House

Industry

Co.

Ltd.

1,800

53,273

Daiwa

Securities

Group,

Inc.

3,800

20,237

Denso

Corp.

1,300

83,955

Dentsu

Group,

Inc.

700

21,518

Disco

Corp.

100

32,386

East

Japan

Railway

Co.

900

61,581

Eisai

Co.

Ltd.

800

52,177

ENEOS

Holdings,

Inc.

8,200

35,349

FANUC

Corp.

500

115,159

Fast

Retailing

Co.

Ltd.

200

164,146

Fujifilm

Holdings

Corp.

1,000

64,837

Fujitsu

Ltd.

500

79,617

GMO

Payment

Gateway,

Inc.

100

12,762

Hamamatsu

Photonics

KK

300

17,401

Hankyu

Hanshin

Holdings,

Inc.

600

18,883

Hikari

Tsushin,

Inc.

100

20,109

Hitachi

Ltd.

2,400

118,150

Honda

Motor

Co.

Ltd.

4,400

130,102

Hoya

Corp.

900

102,388

Hulic

Co.

Ltd.

1,200

13,657

Idemitsu

Kosan

Co.

Ltd.

700

16,760

INPEX

Corp.

2,700

18,427

Isuzu

Motors

Ltd.

1,400

14,166

ITOCHU

Corp.

3,500

109,126

ITOCHU

Techno-Solutions

Corp.

200

6,935

Japan

Exchange

Group,

Inc.

1,300

30,465

Japan

Post

Holdings

Co.

Ltd.

(a)

3,800

31,900

Japan

Post

Insurance

Co.

Ltd.

300

5,780

Japan

Real

Estate

Investment

Corp.

(b)

3

18,608

Japan

Tobacco,

Inc.

2,700

50,490

Kansai

Electric

Power

Co.,

Inc.

(The)

2,000

19,798

Kansai

Paint

Co.

Ltd.

600

15,112

KAO

Corp.

1,100

70,515

KDDI

Corp.

3,900

117,958

KEIO

Corp.

300

19,487

Keyence

Corp.

400

192,196

Kikkoman

Corp.

500

30,694

Kintetsu

Group

Holdings

Co.

Ltd.

(a)

500

17,909

Kirin

Holdings

Co.

Ltd.

2,300

43,147

Kobayashi

Pharmaceutical

Co.

Ltd.

100

8,920

Kobe

Bussan

Co.

Ltd.

200

5,346

Koito

Manufacturing

Co.

Ltd.

300

18,691

Komatsu

Ltd.

2,400

70,372

Kose

Corp.

100

15,059

Kubota

Corp.

3,000

70,537

Kyocera

Corp.

900

54,648

Kyowa

Kirin

Co.

Ltd.

700

21,262

Lasertec

Corp.

200

35,387

Lion

Corp.

900

16,879

M3,

Inc.

1,100

76,252

Makita

Corp.

700

31,476

Marubeni

Corp.

4,300

35,744

McDonald's

Holdings

Co.

Japan

Ltd.

200

9,130

MEIJI

Holdings

Co.

Ltd.

400

24,775

Minebea

Mitsumi,

Inc.

1,100

27,584

41

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.3%

(continued)

Misumi

Group,

Inc.

800

22,542

Mitsubishi

Chemical

Holdings

Corp.

3,500

26,049

Mitsubishi

Corp.

3,500

96,702

Mitsubishi

Electric

Corp.

5,500

84,635

Mitsubishi

Estate

Co.

Ltd.

3,500

57,493

Mitsubishi

Heavy

Industries

Ltd.

900

26,735

Mitsubishi

UFJ

Financial

Group,

Inc.

31,800

168,157

Mitsui

&

Co.

Ltd.

4,100

86,404

Mitsui

Fudosan

Co.

Ltd.

2,500

54,206

Mizuho

Financial

Group,

Inc.

6,360

89,315

Monotaro

Co.

Ltd.

600

15,315

MS&AD

Insurance

Group

Holdings,

Inc.

1,200

33,978

Murata

Manufacturing

Co.

Ltd.

1,600

127,394

NEC

Corp.

700

40,730

Nexon

Co.

Ltd.

1,200

39,797

Nidec

Corp.

1,400

162,088

Nihon

M&a

Center,

Inc.

800

20,962

Nintendo

Co.

Ltd.

300

172,060

Nippon

Building

Fund,

Inc.

(b)

4

26,275

Nippon

Paint

Holdings

Co.

Ltd.

3,300

47,158

Nippon

ProLogis

REIT,

Inc.

(b)

7

22,478

Nippon

Sanso

Holdings

Corp.

600

11,275

Nippon

Steel

Corp.

2,400

41,872

Nippon

Telegraph

&

Telephone

Corp.

3,200

80,655

Nissan

Chemical

Corp.

300

15,425

Nissan

Motor

Co.

Ltd.

(a)

5,900

29,563

Nissin

Foods

Holdings

Co.

Ltd.

200

14,180

Nitori

Holdings

Co.

Ltd.

200

35,881

Nitto

Denko

Corp.

400

33,155

Nomura

Holdings,

Inc.

7,300

39,196

Nomura

Research

Institute

Ltd.

1,000

30,785

NTT

Data

Corp.

1,500

23,302

Obayashi

Corp.

1,300

11,858

OBIC

Co.

Ltd.

200

38,662

Odakyu

Electric

Railway

Co.

Ltd.

1,000

27,034

Olympus

Corp.

3,300

67,854

Omron

Corp.

500

37,921

ONO

Pharmaceutical

Co.

Ltd.

1,300

32,719

Oracle

Corp.

Japan

100

9,377

Oriental

Land

Co.

Ltd.

500

70,788

ORIX

Corp.

3,400

54,668

Osaka

Gas

Co.

Ltd.

1,100

21,214

Otsuka

Corp.

200

10,082

Otsuka

Holdings

Co.

Ltd.

1,400

53,807

Pan

Pacific

International

Holdings

Corp.

1,500

32,318

Panasonic

Corp.

5,900

69,577

Rakuten

Group,

Inc.

2,100

26,686

Recruit

Holdings

Co.

Ltd.

4,200

189,779

Renesas

Electronics

Corp.

(a)

2,500

29,161

Resona

Holdings,

Inc.

6,000

24,647

ROHM

Co.

Ltd.

200

19,816

Santen

Pharmaceutical

Co.

Ltd.

600

7,685

Secom

Co.

Ltd.

500

41,517

Sekisui

Chemical

Co.

Ltd.

1,100

19,141

Sekisui

House

Ltd.

1,800

36,377

Seven

&

i

Holdings

Co.

Ltd.

1,900

81,681

SG

Holdings

Co.

Ltd.

1,300

29,543

Sharp

Corp.

400

6,759

Shimadzu

Corp.

800

27,995

Shimano,

Inc.

200

45,808

Shin-Etsu

Chemical

Co.

Ltd.

1,000

168,794

Shionogi

&

Co.

Ltd.

700

36,804

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Japan

–

22.3%

(continued)

Shiseido

Co.

Ltd.

1,000

72,531

SMC

Corp.

100

58,049

Softbank

Corp.

3,800

49,001

SoftBank

Group

Corp.

4,100

370,784

Sompo

Holdings,

Inc.

1,000

37,144

Sony

Group

Corp.

3,200

319,107

Square

Enix

Holdings

Co.

Ltd.

200

11,125

Subaru

Corp.

1,500

27,823

Sumitomo

Corp.

2,700

36,756

Sumitomo

Electric

Industries

Ltd.

2,000

29,752

Sumitomo

Metal

Mining

Co.

Ltd.

700

29,709

Sumitomo

Mitsui

Financial

Group,

Inc.

3,500

121,742

Sumitomo

Mitsui

Trust

Holdings,

Inc.

900

30,630

Sumitomo

Realty

&

Development

Co.

Ltd.

1,200

39,951

Suntory

Beverage

&

Food

Ltd.

300

10,128

Suzuki

Motor

Corp.

1,200

45,528

Sysmex

Corp.

400

39,980

T&D

Holdings,

Inc.

1,400

17,150

Taisei

Corp.

500

18,435

Takeda

Pharmaceutical

Co.

Ltd.

3,900

129,697

TDK

Corp.

300

40,757

Terumo

Corp.

1,900

71,825

Tobu

Railway

Co.

Ltd.

500

12,854

Toho

Co.

Ltd.

400

15,919

Tokio

Marine

Holdings,

Inc.

1,800

86,126

Tokyo

Electron

Ltd.

400

176,826

Tokyo

Gas

Co.

Ltd.

900

18,221

Tokyu

Corp.

1,500

19,281

Toray

Industries,

Inc.

3,900

24,234

Toshiba

Corp.

1,100

45,437

Toto

Ltd.

300

15,562

Toyota

Industries

Corp.

500

40,026

Toyota

Motor

Corp.

6,400

475,850

Toyota

Tsusho

Corp.

500

21,133

Trend

Micro,

Inc.

300

14,272

Tsuruha

Holdings,

Inc.

100

11,546

Unicharm

Corp.

1,100

42,710

Welcia

Holdings

Co.

Ltd.

200

6,239

West

Japan

Railway

Co.

500

27,592

Workman

Co.

Ltd.

100

6,532

Yakult

Honsha

Co.

Ltd.

400

19,468

Yamaha

Corp.

400

21,774

Yamato

Holdings

Co.

Ltd.

900

25,401

Yaskawa

Electric

Corp.

700

32,277

Z

Holdings

Corp.

6,800

31,417

ZOZO,

Inc.

200

6,752

9,558,104

Luxembourg

–

0.2%

ArcelorMittal

SA

(a)

1,724

50,327

Eurofins

Scientific

Se

(a)

291

28,848

79,175

Macau

–

0.2%

Galaxy

Entertainment

Group

Ltd.

(a)

5,000

44,033

Sands

China

Ltd.

(a)

6,000

28,506

72,539

Mexico

–

0.0%

Fresnillo

PLC

597

6,808

Netherlands

–

4.7%

Adyen

NV

(a)(c)

75

184,317

AKZO

Nobel

NV

512

61,585

42

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Netherlands

–

4.7%

(continued)

Argenx

Se

(a)

120

34,727

ASML

Holding

NV

1,061

691,238

EXOR

NV

234

19,245

HAL

Trust

217

38,923

Heineken

Holding

NV

245

24,361

Heineken

NV

596

69,192

ING

Groep

NV

9,838

125,891

Jde

Peet's

NV

(a)

31

1,206

Koninklijke

Ahold

Delhaize

NV

2,775

74,795

Koninklijke

DSM

NV

467

83,876

Koninklijke

KPN

NV

8,062

27,815

Koninklijke

Philips

NV

(a)

2,326

131,266

NN

Group

NV

702

35,130

Royal

Dutch

Shell

PLC,

Class

A

10,218

193,111

Royal

Dutch

Shell

PLC,

Class

B

9,235

166,094

Wolters

Kluwer

NV

689

62,422

2,025,194

New

Zealand

–

0.2%

a2

Milk

Co.

Ltd.

(a)

870

4,775

Auckland

International

Airport

Ltd.

(a)

3,521

19,175

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

1,464

37,763

Mercury

NZ

Ltd.

1,261

6,279

Meridian

Energy

Ltd.

3,043

11,637

Spark

New

Zealand

Ltd.

5,378

16,978

96,607

Norway

–

0.6%

AKER

BP

ASA

241

6,927

DNB

ASA

2,288

49,309

Equinor

ASA

2,642

53,901

Gjensidige

Forsikring

ASA

461

10,512

Mowi

ASA

1,149

28,434

Norsk

Hydro

ASA

3,937

25,191

Orkla

ASA

2,180

22,293

Salmar

ASA

113

7,859

Schibsted

ASA,

Class

A

(a)

182

9,187

Schibsted

ASA,

Class

B

(a)

230

10,104

Telenor

ASA

1,650

29,482

Tomra

Systems

ASA

251

12,592

265,791

Poland

–

0.0%

Inpost

SA

(a)

291

5,552

Portugal

–

0.1%

EDP

-

Energias

de

Portugal

SA

6,566

36,533

Russia

–

0.0%

Polymetal

International

PLC

733

15,177

Saudi

Arabia

–

0.1%

Delivery

Hero

SE

(a)(c)

364

57,862

Singapore

–

1.0%

Ascendas

Real

Estate

Investment

Trust

(b)

8,296

19,393

Capitaland

Integrated

Commercial

Trust

(b)

10,900

17,615

CapitaLand

Ltd.

7,100

19,853

DBS

Group

Holdings

Ltd.

4,635

104,204

Genting

Singapore

Ltd.

13,800

8,972

Jardine

Cycle

&

Carriage

Ltd.

100

1,742

Keppel

Corp.

Ltd.

2,700

11,000

Mapletree

Industrial

Trust

(b)

3,200

6,807

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Singapore

–

1.0%

(continued)

Mapletree

Logistics

Trust

(b)

5,000

7,479

Oversea-Chinese

Banking

Corp.

Ltd.

10,085

92,481

Singapore

Airlines

Ltd.

(a)

3,900

14,833

Singapore

Exchange

Ltd.

2,100

16,495

Singapore

Technologies

Engineering

Ltd.

4,300

12,476

Singapore

Telecommunications

Ltd.

14,400

27,060

United

Overseas

Bank

Ltd.

3,900

77,947

438,357

South

Africa

–

0.3%

Anglo

American

PLC

3,491

148,387

Spain

–

2.3%

Aena

SME

SA

(a)(c)

185

32,225

Amadeus

IT

Group

SA

(a)

1,132

77,265

Banco

Bilbao

Vizcaya

Argentaria

SA

16,654

93,635

Banco

Santander

SA

43,418

168,037

CaixaBank

SA

9,574

30,738

Cellnex

Telecom

SA

(c)

1,360

77,012

EDP

Renovaveis

SA

467

11,142

Endesa

SA

857

22,552

Ferrovial

SA

1,247

35,487

Grifols

SA

784

21,282

Iberdrola

SA

14,633

197,907

Industria

de

Diseno

Textil

SA

2,673

95,310

Naturgy

Energy

Group

SA

811

20,824

Siemens

Gamesa

Renewable

Energy

SA

(a)

520

18,842

Telefonica

SA

13,499

62,620

964,878

Sweden

–

3.4%

ALFA

Laval

AB

726

24,590

ASSA

Abloy

AB,

Class

B

2,507

71,542

Atlas

Copco

AB,

Class

A

1,631

98,951

Atlas

Copco

AB,

Class

B

993

51,613

Boliden

AB

567

22,115

Electrolux

AB,

Class

B,

Series

B

505

14,190

Embracer

Group

AB,

Class

B

(a)

444

13,684

Epiroc

AB,

Class

A

1,517

32,921

Epiroc

AB,

Class

B

946

18,583

EQT

AB

538

18,216

Essity

AB,

Class

A

134

4,437

Essity

AB,

Class

B

1,530

49,994

Evolution

Gaming

Group

AB

(c)

407

80,478

Fastighets

AB

Balder,

Class

B

(a)

234

13,496

Hennes

&

Mauritz

AB,

Class

B

(a)

1,967

48,572

Hexagon

AB,

Class

B

710

67,795

Holmen

AB,

Class

B

169

7,975

ICA

Gruppen

AB

225

10,378

Industrivarden

AB,

Class

A

391

15,019

Industrivarden

AB,

Class

C

405

14,637

Investment

AB

Latour

,

Class

B

300

9,189

Investor

AB,

Class

A

318

27,077

Investor

AB,

Class

B

1,149

97,687

Kinnevik

AB,

Class

B

(a)

550

30,441

L

E

Lundbergforetagen

AB,

Class

B

170

9,727

Lifco

AB,

Class

B

82

8,834

Nibe

Industrier

AB,

Class

B

883

32,351

Nordnet

AB

Publ

265

4,985

Sandvik

AB

2,794

69,158

Skandinaviska

Enskilda

Banken

AB,

Class

A

4,070

52,296

Skandinaviska

Enskilda

Banken

AB,

Class

C

126

1,609

Skanska

AB,

Class

B

872

23,677

43

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

Sweden

–

3.4%

(continued)

SKF

AB,

Class

A

86

2,263

SKF

AB,

Class

B

906

23,422

Svenska

Cellulosa

AB

SCA,

Class

A

142

2,563

Svenska

Cellulosa

AB

SCA,

Class

B

1,467

25,763

Svenska

Handelsbanken

AB,

Class

A

3,841

44,598

Svenska

Handelsbanken

AB,

Class

B

163

1,995

Swedbank

AB,

Class

A

2,358

41,478

Swedish

Match

AB

432

35,477

Tele2

AB,

Class

B

1,211

15,661

Telefonaktiebolaget

LM

Ericsson,

Class

A

227

3,119

Telefonaktiebolaget

LM

Ericsson,

Class

B

6,606

90,577

Telia

Co.

AB

6,642

27,524

Volvo

AB,

Class

A

579

14,585

Volvo

AB,

Class

B

4,142

101,324

1,476,566

Switzerland

–

8.9%

ABB

Ltd.

4,861

158,027

Alcon,

Inc.

1,233

92,605

Barry

Callebaut

AG

7

15,473

Chocoladefabriken

Lindt

&

Spruengli

AG

5

46,434

CIE

Financiere

Richemont

SA,

Class

A

1,316

135,113

Coca-Cola

HBC

AG

469

16,247

Credit

Suisse

Group

AG

5,659

59,230

EMS-

Chemie

Holding

AG

19

17,759

Geberit

AG

94

61,880

Givaudan

SA

21

88,048

Kuehne

+

Nagel

International

AG

145

43,402

LafargeHolcim

Ltd.

(a)

1,228

75,803

Logitech

International

SA

411

46,145

Lonza

Group

AG

189

120,357

Nestle

SA

7,159

854,637

Novartis

AG

6,076

519,363

Partners

Group

Holding

AG

47

66,992

Roche

Holding

AG

1,726

563,190

Roche

Holding

AG,

BR

70

24,345

Schindler

Holding

AG

104

29,625

Schindler

Holding

AG

47

13,089

SGS

SA

13

38,485

Sika

AG

353

105,430

Sonova

Holding

AG

(a)

139

41,164

STMicroelectronics

NV

1,657

62,155

Straumann

Holding

AG

27

38,618

Swatch

Group

AG

(The)

142

8,524

Swatch

Group

AG

(The),

BR

70

21,459

Swiss

Life

Holding

AG

85

41,463

Swiss

RE

AG

737

68,589

Swisscom

AG

63

34,213

UBS

Group

AG

9,647

147,289

Zurich

Insurance

Group

AG

379

155,706

3,810,859

United

Kingdom

–

10.3%

3i

Group

PLC

2,477

43,967

Admiral

Group

PLC

597

25,864

Ashtead

Group

PLC

1,155

74,377

Associated

British

Foods

PLC

(a)

908

29,016

AstraZeneca

PLC

3,274

349,722

Aviva

PLC

10,015

55,507

BAE

Systems

PLC

8,060

56,489

Barclays

PLC

40,340

98,022

BP

PLC

50,519

211,937

British

American

Tobacco

PLC

5,749

213,481

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.9%

(continued)

United

Kingdom

–

10.3%

(continued)

BT

Group

PLC,

Class

A

(a)

22,230

50,769

Bunzl

PLC

807

26,000

CK

Hutchison

Holdings

Ltd.

6,000

49,209

CNH

Industrial

NV

2,392

35,619

Coca-Cola

European

Partners

PLC

539

30,626

Compass

Group

PLC

(a)

4,472

97,365

Croda

International

PLC

312

29,219

Diageo

PLC

5,806

261,338

Dr.

Martens

PLC

(a)

1,146

7,673

Experian

PLC

2,295

88,717

GlaxoSmithKline

PLC

12,164

225,611

Halma

PLC

1,029

36,871

HSBC

Holdings

PLC

51,540

323,117

Imperial

Brands

PLC

2,398

50,051

InterContinental

Hotels

Group

PLC

(a)

425

30,316

Intertek

Group

PLC

411

34,928

JD

Sports

Fashion

PLC

(a)

1,029

13,085

Legal

&

General

Group

PLC

15,636

58,971

Lloyds

Banking

Group

PLC

176,181

110,830

London

Stock

Exchange

Group

PLC

745

76,330

Mondi

PLC

1,054

28,676

National

Grid

PLC

9,631

121,425

Natwest

Group

PLC

13,418

36,524

Next

PLC

(a)

311

33,595

Ocado

Group

PLC

(a)

1,488

43,203

Persimmon

PLC

751

32,567

Prudential

PLC

6,547

139,097

Reckitt

Benckiser

Group

PLC

1,825

163,004

RELX

PLC

5,063

131,753

Rentokil

Initial

PLC

4,679

32,418

Sage

Group

PLC

(The)

2,558

22,596

Schroders

PLC

296

14,787

Schroders

PLC

59

2,153

Segro

PLC

(b)

2,793

38,883

Smith

&

Nephew

PLC

2,370

51,534

Spirax-Sarco

Engineering

PLC

166

27,155

SSE

PLC

2,615

53,150

Standard

Chartered

PLC

7,160

51,510

Tesco

PLC

17,789

54,432

Unilever

PLC

6,570

384,918

Vodafone

Group

PLC

67,473

127,798

WPP

PLC

3,180

42,954

4,429,159

United

States

–

0.7%

Ferguson

PLC

588

74,345

James

Hardie

Industries

PLC

1,218

40,362

Stellantis

NV

5,329

88,682

Waste

Connections,

Inc.

667

79,387

282,776

Total

Common

Stocks

(cost

$30,742,660)

42,474,106

Preferred

Stocks

–

0.6%

Germany

–

0.6%

Bayerische

Motoren

Werke

AG,

2.79%

134

11,001

Henkel

AG

&

Co.

KGaA

,

1.93%

451

51,881

Sartorius

AG,

0.22%

86

48,575

Volkswagen

AG,

2.18%

461

120,258

231,715

Spain

–

0.0%

Grifols

SA,

Class

B,

2.56%

777

13,796

Total

Preferred

Stocks

(cost

$147,212)

245,511

44

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Non-income

producing

security.

(b)

Investment

in

a

real

estate

investment

trust.

(c)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$750,691

or

1.75%

of

net

assets.

(d)

Held

by

a

counterparty

for

open

exchange

traded

derivative

contracts.

(e)

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

(f)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Rights

–

0.0%

Switzerland

–

0.0%

Credit

Suisse

Group

AG,

Rights

expiring

5/11/2021

(a)

5,659

248

Total

Rights

(cost

$0)

248

Principal

Amount

($)

Short-Term

Investments

–

0.0%

U.S.

Treasury

Securities

–

0.0%

U.S.

Treasury

Bills,

0.03%,

6/24/2021

(d)(e)

(cost

$8,000)

8,000

8,000

Shares

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$23,416)

23,416

23,416

Total

Investments

(cost

$30,921,288)

99.6%

42,751,281

Cash

and

Receivables

(Net)

0.4%

192,703

Net

Assets

100.0%

42,943,984

BR—Bearer

Shares

REIT—Real

Estate

Investment

Trust

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

45,827

639,633

(662,044)

—

—

23,416

0.1

9

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

26,856

374,114

(400,970)

—

—

—

—

20

2

Total

72,683

1,013,747

(1,063,014)

—

—

23,416

0.1

29

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

45

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financials

19.8

Industrials

15.5

Consumer

Discretionary

11.8

Health

Care

11.4

Consumer

Staples

10.1

Information

Technology

9.1

Materials

8.4

Communication

Services

4.5

Energy

4.0

Utilities

3.0

Real

Estate

1.9

Registered

Investment

Companies

0.1

U.S.

Treasury

Securities

0.0

99.6

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

EAFE

Index

1

6/18/2021

109,749

112,865

3,116

46

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

Emerging

Markets

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

97.4%

Brazil

–

3.0%

Ambev

SA

27,800

76,760

Atacadao

SA

2,000

8,007

B2W

Cia

Digital

(a)

1,300

16,229

B3

SA

-

Brasil

Bolsa

Balcao

11,700

111,172

Banco

Bradesco

SA

7,480

28,554

Banco

BTG

Pactual

SA

1,200

23,667

Banco

do

Brasil

SA

7,800

42,413

BB

Seguridade

Participacoes

SA

4,500

18,497

Centrais

Eletricas

Brasileiras

SA

2,200

14,975

Hapvida

Participacoes

e

Investimentos

SA

(b)

7,200

19,111

Itausa

-

Investimentos

Itau

SA

5,300

10,687

Localiza

Rent

A

Car

SA

3,400

40,065

Magazine

Luiza

SA

16,000

59,131

Natura

&

Co.

Holding

SA

(a)

5,700

50,904

Notre

Dame

Intermedica

Participacoes

SA

(a)

3,100

46,261

Petroleo

Brasileiro

SA

21,400

91,276

Raia

Drogasil

SA

6,300

30,633

Rede

D'or

Sao

Luiz

SA

(b)

2,700

35,066

Suzano

SA

(a)

3,700

47,024

Telefonica

Brasil

SA,

Class

Preference

1,900

15,077

Vale

SA

19,900

402,420

WEG

SA

9,200

58,894

1,246,823

Chile

–

0.4%

Banco

de

Chile

267,300

28,481

Banco

de

Credito

e

Inversiones

SA

435

20,102

Banco

Santander

Chile

235,039

12,834

Cencosud

SA

7,241

14,959

Empresas

CMPC

SA

4,075

11,269

Empresas

COPEC

SA

2,529

27,102

Enel

Americas

SA

175,240

24,823

Enel

Chile

SA

(a)

123,437

8,382

Falabella

SA

3,603

16,194

164,146

China

–

38.6%

360

Security

Technology,

Inc.,

Class

A

2,200

4,287

Agricultural

Bank

of

China

Ltd.,

Class

A

56,700

28,037

Agricultural

Bank

of

China

Ltd.,

Class

H

169,000

65,713

Airtac

International

Group

1,000

42,244

Alibaba

Group

Holding

Ltd.

(a)

84,980

2,461,809

Alibaba

Health

Information

Technology

Ltd.

(a)

24,000

73,234

Anhui

Conch

Cement

Co.

Ltd.,

Class

A

2,400

18,183

Anhui

Conch

Cement

Co.

Ltd.,

Class

H

8,000

47,844

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

A

200

7,026

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

B

600

8,055

ANTA

Sports

Products

Ltd.

5,000

89,805

Autobio

Diagnostics

Co.

Ltd.,

Class

A

100

1,888

Autohome

,

Inc.,

ADR

343

31,806

Avary

Holding

Shenzhen

Co.

Ltd.,

Class

A

500

2,408

AVIC

Shenyang

Aircraft

Co.

Ltd.,

Class

A

600

5,353

AVIC

Xi'an

Aircraft

Industry

Group

Co.

Ltd.,

Class

A

1,300

4,831

Baidu,

Inc.,

ADR

(a)

1,574

331,059

Bank

of

Beijing

Co.

Ltd.,

Class

A

19,400

14,269

Bank

of

China

Ltd.,

Class

A

21,700

10,898

Bank

of

China

Ltd.,

Class

H

410,000

163,116

Bank

of

Communications

Co.

Ltd.,

Class

A

10,000

7,433

Bank

of

Communications

Co.

Ltd.,

Class

H

116,000

74,228

Bank

of

Jiangsu

Co.

Ltd.,

Class

A

5,200

5,681

Bank

of

Nanjing

Co.

Ltd.,

Class

A

3,400

4,818

Bank

of

Ningbo

Co.

Ltd.,

Class

A

4,000

26,102

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

China

–

38.6%

(continued)

Bank

of

Shanghai

Co.

Ltd.,

Class

A

6,800

8,595

Baoshan

Iron

&

Steel

Co.

Ltd.,

Class

A

10,000

13,335

BeiGene

Ltd.

(a)

2,800

75,346

Beijing

Oriental

Yuhong

Waterproof

Technology

Co.

Ltd.,

Class

A

300

2,678

Bilibili

,

Inc.,

ADR

(a)(c)

1,068

118,398

Blue

Moon

Group

Holdings

Ltd.

(a)(b)

1,300

1,814

BOC

Hong

Kong

Holdings

Ltd.

21,000

74,084

BOE

Technology

Group

Co.

Ltd.,

Class

A

18,900

21,407

BOE

Technology

Group

Co.

Ltd.,

Class

B

600

318

BYD

Co.

Ltd.,

Class

A

600

14,702

BYD

Co.

Ltd.,

Class

H

4,000

82,556

CGN

Power

Co.

Ltd.,

Class

H

(b)

103,000

23,738

Changchun

High

&

New

Technology

Industry

Group,

Inc.,

Class

A

200

15,378

China

CITIC

Bank

Corp.

Ltd.,

Class

H

74,000

38,778

China

Construction

Bank

Corp.,

Class

A

4,000

4,160

China

Construction

Bank

Corp.,

Class

H

581,000

460,051

China

CSSC

Holdings

Ltd.,

Class

A

(a)

1,000

2,411

China

Eastern

Airlines

Corp.

Ltd.,

Class

A

8,600

6,937

China

Eastern

Airlines

Corp.

Ltd.,

Class

H

4,000

1,756

China

Everbright

Bank

Co.

Ltd.,

Class

A

12,700

7,418

China

Everbright

Bank

Co.

Ltd.,

Class

H

16,000

6,695

China

Evergrande

Group

15,000

25,416

China

Feihe

Ltd.

(b)

17,000

48,482

China

Galaxy

Securities

Co.

Ltd.,

Class

A

2,000

3,084

China

Galaxy

Securities

Co.

Ltd.,

Class

H

17,500

10,432

China

Gas

Holdings

Ltd.

11,800

42,616

China

Life

Insurance

Co.

Ltd.,

Class

H

45,000

91,659

China

Mengniu

Dairy

Co.

Ltd.

16,000

85,698

China

Merchants

Bank

Co.

Ltd.,

Class

A

8,000

65,147

China

Merchants

Bank

Co.

Ltd.,

Class

H

22,000

177,459

China

Merchants

Securities

Co.

Ltd.,

Class

A

5,460

15,794

China

Merchants

Securities

Co.

Ltd.,

Class

H

(b)

2,600

3,642

China

Merchants

Shekou

Industrial

Zone

Holdings

Co.

Ltd.,

Class

A

2,800

5,028

China

Minsheng

Banking

Corp.

Ltd.,

Class

A

3,000

2,179

China

Minsheng

Banking

Corp.

Ltd.,

Class

H

29,500

15,155

China

Molybdenum

Co.

Ltd.,

Class

A

11,500

10,325

China

Molybdenum

Co.

Ltd.,

Class

H

18,000

12,213

China

National

Nuclear

Power

Co.

Ltd.,

Class

A

16,200

13,067

China

Overseas

Land

&

Investment

Ltd.

17,000

43,032

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

A

3,500

17,788

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

H

14,200

51,375

China

Petroleum

&

Chemical

Corp.,

Class

A

18,400

12,169

China

Petroleum

&

Chemical

Corp.,

Class

H

170,000

84,706

China

Railway

Group

Ltd.,

Class

A

23,100

19,240

China

Railway

Group

Ltd.,

Class

H

4,000

2,070

China

Resources

Beer

Holdings

Co.

Ltd.

8,000

64,634

China

Resources

Cement

Holdings

Ltd.

18,000

19,630

China

Resources

Gas

Group

Ltd.

4,000

21,708

China

Resources

Land

Ltd.

18,000

84,474

China

Resources

Mixc

Lifestyle

Services

Ltd.

(a)(b)

1,600

9,445

China

Satellite

Communications

Co.

Ltd.,

Class

A

1,700

4,101

China

Shenhua

Energy

Co.

Ltd.,

Class

A

3,400

10,093

China

Shenhua

Energy

Co.

Ltd.,

Class

H

23,500

49,016

China

Shipbuilding

Industry

Co.

Ltd.,

Class

A

(a)

3,700

2,338

China

Southern

Airlines

Co.

Ltd.,

Class

A

(a)

7,500

7,359

China

Southern

Airlines

Co.

Ltd.,

Class

H

(a)

14,000

9,517

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

A

900

43,389

China

Vanke

Co.

Ltd.,

Class

A

4,900

21,329

47

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

China

–

38.6%

(continued)

China

Vanke

Co.

Ltd.,

Class

H

8,500

29,768

China

Yangtze

Power

Co.

Ltd.,

Class

A

11,700

36,104

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

A

(a)

2,300

5,818

Chongqing

Changan

Automobile

Co.

Ltd.,

Class

B

(a)

1,700

1,375

CITIC

Pacific

Special

Steel

Group

Co.

Ltd.,

Class

A

1,000

3,999

CITIC

Securities

Co.

Ltd.,

Class

A

5,900

21,744

CITIC

Securities

Co.

Ltd.,

Class

H

11,000

26,541

Cosco

Shipping

Holdings

Co.

Ltd.,

Class

H

(a)

15,500

27,740

Country

Garden

Holdings

Co.

Ltd.

45,858

54,615

Country

Garden

Services

Holdings

Co.

Ltd.

9,000

94,440

CSPC

Pharmaceutical

Group

Ltd.

49,760

61,633

Daqin

Railway

Co.

Ltd.,

Class

A

300

319

ENN

Energy

Holdings

Ltd.

4,500

76,711

Everbright

Securities

Co.

Ltd.,

Class

A

2,100

4,864

Evergrande

Property

Services

Group

Ltd.

(a)(b)

6,100

10,618

Flat

Glass

Group

Co

Ltd.,

Class

A

100

439

Flat

Glass

Group

Co.

Ltd.,

Class

H

2,000

6,180

Focus

Media

Information

Technology

Co.

Ltd.,

Class

A

7,000

11,660

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.,

Class

A

1,400

36,668

Fosun

International

Ltd.

11,000

15,834

Founder

Securities

Co.

Ltd.,

Class

A

(a)

4,700

6,689

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

H

(b)

2,800

16,277

Ganfeng

Lithium

Co.

Ltd.,

Class

A

300

5,076

Ganfeng

Lithium

Co.

Ltd.,

Class

H

(b)

1,200

16,161

GDS

Holdings

Ltd.,

ADR

(a)(c)

519

43,061

Geely

Automobile

Holdings

Ltd.

32,000

83,019

Gemdale

Corp.,

Class

A

4,200

7,632

GF

Securities

Co.

Ltd.,

Class

A

4,000

9,179

GF

Securities

Co.

Ltd.,

Class

H

7,000

10,148

Gigadevice

Semiconductor

Beijing,

Inc.,

Class

A

200

5,972

Glodon

Co.

Ltd.,

Class

A

800

9,033

GoerTek

,

Inc.,

Class

A

1,300

7,573

Great

Wall

Motor

Co.

Ltd.,

Class

A

200

1,033

Great

Wall

Motor

Co.

Ltd.,

Class

H

19,000

47,018

Greenland

Holdings

Corp.

Ltd.,

Class

A

7,300

6,396

Guangdong

Haid

Group

Co.

Ltd.,

Class

A

400

5,155

Guangdong

Investment

Ltd.

14,000

21,558

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

H

16,000

13,658

Guosen

Securities

Co.

Ltd.,

Class

A

3,000

4,867

Guotai

Junan

Securities

Co.

Ltd.,

Class

A

4,200

10,747

Guotai

Junan

Securities

Co.

Ltd.,

Class

H

(b)

4,200

5,981

Haidilao

International

Holding

Ltd.

(b)

5,000

32,413

Haier

Smart

Home

Co.

Ltd.,

Class

A

3,600

18,430

Haier

Smart

Home

Co.

Ltd.,

Class

H

(a)

12,800

55,374

Haitong

Securities

Co.

Ltd.,

Class

A

4,800

8,211

Haitong

Securities

Co.

Ltd.,

Class

H

18,000

16,107

Hansoh

Pharmaceutical

Group

Co.

Ltd.

(a)(b)

6,000

25,918

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.,

Class

A

1,200

6,794

Hengli

Petrochemical

Co.

Ltd.,

Class

A

3,000

13,745

Hongta

Securities

Co.

Ltd.,

Class

A

1,000

1,949

Hualan

Biological

Engineering,

Inc.,

Class

A

1,000

6,502

Huaneng

Lancang

River

Hydropower,

Inc.,

Class

A

3,300

2,988

Huaneng

Power

International,

Inc.,

Class

A

5,400

3,521

Huaneng

Power

International,

Inc.,

Class

H

18,000

6,489

Huatai

Securities

Co.

Ltd.,

Class

A

4,000

9,840

Huatai

Securities

Co.

Ltd.,

Class

H

(b)

8,600

12,291

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

China

–

38.6%

(continued)

Huaxia

Bank

Co.

Ltd.,

Class

A

14,100

13,596

Huayu

Automotive

Systems

Co.

Ltd.,

Class

A

2,000

8,072

Huazhu

Group

Ltd.,

ADR

(a)(c)

835

49,232

Hundsun

Technologies,

Inc.,

Class

A

400

5,680

Iflytek

Co.

Ltd.,

Class

A

1,000

7,876

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

A

45,700

36,227

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

H

436,000

284,048

Industrial

Bank

Co.

Ltd.,

Class

A

10,100

33,929

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.,

Class

A

3,200

20,249

Innovent

Biologics,

Inc.

(a)(b)

5,000

54,333

JD

Health

International,

Inc.

(a)(b)

1,700

26,484

JD.Com,

Inc.,

Class

A

(a)

10,500

403,948

Jiangsu

Hengli

Hydraulic

Co.

Ltd.,

Class

A

444

5,900

Jiangsu

Hengrui

Medicine

Co.

Ltd.,

Class

A

2,700

35,088

Jiangsu

King's

Luck

Brewery

JSC

Ltd.,

Class

A

700

5,779

Jiangsu

Yanghe

Brewery

Joint-Stock

Co.

Ltd.,

Class

A

800

23,797

KE

Holdings,

Inc.,

ADR

(a)(c)

937

48,771

Kuaishou

Technology,

Class

B

(a)(b)

4,800

162,537

Kweichow

Moutai

Co.

Ltd.,

Class

A

600

186,057

Li

Auto,

Inc.,

ADR

(a)

951

18,773

Li

Ning

Co

Ltd.

12,000

97,955

Lingyi

iTech

Guangdong

Co,

Class

A

700

891

Logan

Group

Co.

Ltd.

8,000

12,731

Longfor

Group

Holdings

Ltd.

(b)

9,000

56,142

LONGi

Green

Energy

Technology

Co.

Ltd.,

Class

A

2,000

30,719

Luxshare

Precision

Industry

Co.

Ltd.,

Class

A

2,300

13,136

Luzhou

Laojiao

Co.

Ltd.,

Class

A

700

27,645

Meinian

Onehealth

Healthcare

Holdings

Co.

Ltd.,

Class

A

(a)

200

380

Meituan

,

Class

B

(a)(b)

24,200

928,510

Microport

Cardioflow

Medtech

Corp.

(a)(b)

200

450

Muyuan

Foods

Co.

Ltd.,

Class

A

1,800

31,461

NARI

Technology

Co.

Ltd.,

Class

A

2,500

12,354

NAURA

Technology

Group

Co.

Ltd.,

Class

A

100

2,559

NetEase

,

Inc.

11,500

259,410

New

China

Life

Insurance

Co.

Ltd.,

Class

A

1,000

7,511

New

China

Life

Insurance

Co.

Ltd.,

Class

H

4,700

18,124

New

Hope

Liuhe

Co.

Ltd.,

Class

A

1,800

4,623

New

Oriental

Education

&

Technology

Group,

Inc.,

ADR

(a)

8,660

132,152

Ningxia

Baofeng

Energy

Group

Co.

Ltd.,

Class

A

1,000

2,505

Nio

,

Inc.,

ADR

(a)

7,403

294,936

Nongfu

Spring

Co.

Ltd.,

Class

H

(a)(b)

8,400

44,505

Offcn

Education

Technology

Co.

Ltd.,

Class

A

1,100

4,334

Oppein

Home

Group,

Inc.,

Class

A

300

7,732

Orient

Securities

Co.

Ltd.,

Class

A

4,700

6,398

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

H

32,000

10,959

PetroChina

Co.

Ltd.,

Class

H

118,000

42,996

Pinduoduo

,

Inc.,

ADR

(a)

2,020

270,539

Ping

An

Bank

Co.

Ltd.,

Class

A

10,000

35,989

Ping

An

Healthcare

And

Technology

Co.

Ltd.

(a)(b)

3,500

41,008

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

A

5,700

63,857

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

32,500

355,469

Poly

Developments

and

Holdings

Group

Co.

Ltd.,

Class

A

5,600

12,115

48

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

China

–

38.6%

(continued)

Pop

Mart

International

Group

Ltd.

(a)(b)

700

5,795

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

H

(b)

49,000

31,923

Power

Construction

Corp.

of

China

Ltd.,

Class

A

6,000

3,542

Rongsheng

Petro

Chemical

Co.

Ltd.,

Class

A

3,400

14,884

SAIC

Motor

Corp.

Ltd.,

Class

A

4,300

13,329

Sanan

Optoelectronics

Co.

Ltd.,

Class

A

1,900

7,369

Sany

Heavy

Industry

Co.

Ltd.,

Class

A

3,800

18,132

SDIC

Power

Holdings

Co.

Ltd.,

Class

A

800

1,224

Seazen

Holdings

Co.

Ltd.,

Class

A

1,000

6,960

SF

Holding

Co.

Ltd.,

Class

A

2,300

22,870

Shaanxi

Coal

Industry

Co.

Ltd.,

Class

A

7,800

13,559

Shandong

Gold

Mining

Co.

Ltd.,

Class

A

3,120

9,334

Shandong

Gold

Mining

Co.

Ltd.,

Class

H

(b)

2,150

3,947

Shanghai

Electric

Group

Co.

Ltd.,

Class

A

(a)

6,300

4,975

Shanghai

Electric

Group

Co.

Ltd.,

Class

H

(a)

2,000

695

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

A

700

6,516

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

H

3,500

22,239

Shanghai

International

Airport

Co.

Ltd.,

Class

A

800

6,075

Shanghai

International

Port

Group

Co.

Ltd.,

Class

A

4,100

2,933

Shanghai

M&G

Stationery,

Inc.,

Class

A

500

7,062

Shanghai

Pudong

Development

Bank

Co.

Ltd.,

Class

A

6,300

9,784

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.,

Class

A

500

31,697

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

A

16,300

11,385

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

H

(b)

6,400

1,747

Shenzhen

Goodix

Technology

Co.

Ltd.,

Class

A

100

1,758

Shenzhou

International

Group

Holdings

Ltd.

4,500

98,959

Shimao

Property

Holdings

Ltd.

6,000

17,382

Silergy

Corp.

400

41,886

Smoore

International

Holdings

Ltd.

(a)(b)

9,000

63,790

Sun

Art

Retail

Group

Ltd.

10,000

9,219

Sunac

China

Holdings

Ltd.

15,000

58,421

Sunac

Services

Holdings

Ltd.

(a)(b)

3,000

9,347

Suning.com

Co.

Ltd.,

Class

A

1,400

1,441

Sunny

Optical

Technology

Group

Co.

Ltd.

4,200

102,420

TAL

Education

Group,

ADR

(a)

2,351

133,889

TCL

Technology

Group

Corp.,

Class

A

4,400

6,119

Tencent

Holdings

Ltd.

34,700

2,783,381

Tencent

Music

Entertainment

Group,

ADR

(a)

2,373

41,338

Tianjin

Zhonghuan

Semiconductor

Co.

Ltd.,

Class

A

3,300

14,089

Tingyi

Cayman

Islands

Holding

Corp.

12,000

21,599

Tongwei

Co.

Ltd.,

Class

A

2,100

11,432

Topchoice

Medical

Corp.,

Class

A

(a)

200

9,679

Topsports

International

Holdings

Ltd.

(b)

5,000

6,759

Trip.com

Group

Ltd.,

ADR

(a)

2,723

106,415

Tsingtao

Brewery

Co.

Ltd.,

Class

A

800

11,251

Tsingtao

Brewery

Co.

Ltd.,

Class

H

2,000

18,154

Unigroup

Guoxin

Microelectronics

Co.

Ltd.,

Class

A

200

3,619

Unisplendour

Corp.

Ltd.,

Class

A

1,740

4,912

Vipshop

Holdings

Ltd.,

ADR

(a)

2,246

69,109

Wanhua

Chemical

Group

Co.

Ltd.,

Class

A

1,600

25,401

Weichai

Power

Co.

Ltd.,

Class

A

2,000

5,597

Weichai

Power

Co.

Ltd.,

Class

H

11,000

25,521

Will

Semiconductor

Ltd.,

Class

A

400

18,698

Wingtech

Technology

Co.

Ltd.,

Class

A

300

3,954

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

China

–

38.6%

(continued)

Wuhu

Sanqi

Interactive

Entertainment

Network

Technology

Group

Co.

Ltd.,

Class

A

1,500

5,113

Wuliangye

Yibin

Co.

Ltd.,

Class

A

1,900

83,675

Wuxi

AppTec

Co.

Ltd.,

Class

A

1,200

29,437

Wuxi

AppTec

Co.

Ltd.,

Class

H

(b)

1,500

35,478

Wuxi

Biologics

Cayman,

Inc.

(a)(b)

18,000

253,771

Xinyi

Solar

Holdings

Ltd.

20,000

33,476

Yidu

Tech,

Inc.

(a)(b)

1,800

9,780

Yihai

International

Holding

Ltd.

3,000

29,240

Yonghui

Superstores

Co.

Ltd.,

Class

A

2,000

1,721

Yonyou

Network

Technology

Co.

Ltd.,

Class

A

100

513

Yum

China

Holdings,

Inc.

2,428

152,770

Yunnan

Baiyao

Group

Co.

Ltd.,

Class

A

600

9,971

Yunnan

Energy

New

Material

Co.

Ltd.,

Class

A

400

8,316

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.,

Class

A

300

15,729

Zhejiang

Century

Huatong

Group

Co.

Ltd.,

Class

A

(a)

5,980

6,126

Zhejiang

NHU

Co.

Ltd.,

Class

A

500

3,022

Zhejiang

Sanhua

Intelligent

Controls

Co.

Ltd.,

Class

A

1,600

5,296

Zhejiang

Supor

Co.

Ltd.,

Class

A

500

5,826

Zhongsheng

Group

Holdings

Ltd.

3,000

22,731

Zijin

Mining

Group

Co.

Ltd.,

Class

A

7,000

11,931

Zijin

Mining

Group

Co.

Ltd.,

Class

H

34,000

47,891

ZTE

Corp.,

Class

A

1,400

6,263

ZTE

Corp.,

Class

H

6,200

15,518

ZTO

Express

Cayman,

Inc.,

ADR

(c)

3,697

118,896

15,955,842

Colombia

–

0.1%

Banco

de

Bogota

SA

922

19,347

Bancolombia

SA

1,027

7,665

Ecopetrol

SA

26,057

15,393

Interconexion

Electrica

SA

Esp

3,336

19,065

61,470

Czech

Republic

–

0.1%

CEZ

AS

1,020

28,455

Egypt

–

0.1%

Commercial

International

Bank

Egypt

SAE

8,436

31,385

Greece

–

0.1%

Hellenic

Telecommunications

Organization

SA

1,437

24,408

Hong

Kong

–

0.2%

Sino

Biopharmaceutical

Ltd.

61,500

66,276

Hungary

–

0.1%

OTP

Bank

Nyrt

(a)

1,278

57,540

India

–

9.8%

Adani

Green

Energy

Ltd.

(a)

1,670

22,973

Adani

Ports

&

Special

Economic

Zone

Ltd.

(a)

4,386

43,228

Ambuja

Cements

Ltd.

5,401

22,534

Asian

Paints

Ltd.

2,629

90,023

Avenue

Supermarts

Ltd.,

Class

A

(a)(b)

825

31,775

Axis

Bank

Ltd.

(a)

12,745

123,007

Bajaj

Auto

Ltd.

(a)

297

15,372

Bajaj

Finance

Ltd.

(a)

1,546

113,789

Bajaj

Finserv

Ltd.

(a)

233

34,732

49

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

India

–

9.8%

(continued)

Bandhan

Bank

Ltd.

(a)(b)

3,363

14,971

Berger

Paints

India

Ltd.

1,011

9,609

Bharat

Petroleum

Corp.

Ltd.

4,972

28,313

Bharti

Airtel

Ltd.

14,266

103,375

Biocon

Ltd.

(a)

2,159

11,066

Britannia

Industries

Ltd.

675

31,430

Cipla

Ltd./India

(a)

3,683

45,264

Coal

India

Ltd.

5,880

10,562

Dabur

India

Ltd.

2,627

19,082

Divi's

Laboratories

Ltd.

(a)

827

45,355

Dr

Reddy's

Laboratories

Ltd.

827

57,645

Eicher

Motors

Ltd.

(a)

884

28,901

Godrej

Consumer

Products

Ltd.

(a)

2,112

19,724

Grasim

Industries

Ltd.

2,595

49,108

HCL

Technologies

Ltd.

6,547

79,455

HDFC

Asset

Management

Co.

Ltd.

(b)

152

5,697

HDFC

Life

Insurance

Co.

Ltd.

(a)(b)

3,700

33,222

Hero

Motocorp

Ltd.

708

26,946

Hindustan

Unilever

Ltd.

5,031

159,867

Housing

Development

Finance

Corp.

Ltd.

10,243

334,660

ICICI

Bank

Ltd.

(a)

29,415

238,465

ICICI

Lombard

General

Insurance

Co.

Ltd.

(b)

1,238

23,633

ICICI

Prudential

Life

Insurance

Co.

Ltd.

(a)(b)

1,312

9,245

Indian

Oil

Corp.

Ltd.

15,706

19,263

Infosys

Ltd.

21,324

389,890

Interglobe

Aviation

Ltd.

(a)(b)

625

13,866

ITC

Ltd.

16,883

46,178

Jsw

Steel

Ltd.

6,954

67,392

Kotak

Mahindra

Bank

Ltd.

(a)

6,280

148,266

Larsen

&

Toubro

Infotech

Ltd.

(b)

283

14,863

Larsen

&

Toubro

Ltd.

4,077

73,779

Mahindra

&

Mahindra

Ltd.

5,701

57,920

Maruti

Suzuki

India

Ltd.

804

70,071

Nestle

India

Ltd.

185

40,733

NTPC

Ltd.

28,588

39,540

Oil

&

Natural

Gas

Corp.

Ltd.

13,187

19,254

Pidilite

Industries

Ltd.

(a)

812

19,905

Power

Grid

Corp.

of

India

Ltd.

13,924

41,365

Reliance

Industries

Ltd.

18,784

505,784

SBI

Cards

&

Payment

Services

Ltd.

523

6,949

SBI

Life

Insurance

Co.

Ltd.

(b)

1,979

24,812

Shree

Cement

Ltd.

(a)

34

12,811

State

Bank

of

India

(a)

9,697

46,278

Sun

Pharmaceutical

Industries

Ltd.

6,669

58,922

Tata

Consultancy

Services

Ltd.

6,068

248,680

Tech

Mahindra

Ltd.

3,864

50,099

Titan

Co.

Ltd.

2,566

51,673

Ultratech

Cement

Ltd.

731

61,965

Wipro

Ltd.

6,868

45,688

4,058,974

Indonesia

–

1.1%

Astra

International

Tbk

PT

113,100

43,063

Bank

Central

Asia

Tbk

PT

69,700

154,527

Bank

Mandiri

(

Persero

)

Tbk

PT

105,400

45,057

Bank

Negara

Indonesia

(

Persero

)

Tbk

PT

40,200

15,863

Bank

Rakyat

Indonesia

(

Persero

)

Tbk

PT

301,100

84,420

Barito

Pacific

Tbk

PT

(a)

179,700

12,440

Chandra

Asri

Petrochemical

Tbk

PT

14,900

10,392

Charoen

Pokphand

Indonesia

Tbk

PT

42,800

20,889

Gudang

Garam

Tbk

PT

(a)

4,900

12,246

Indofood

CBP

Sukses

Makmur

Tbk

PT

14,100

8,492

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

Indonesia

–

1.1%

(continued)

Telekomunikasi

Indonesia

(

Persero

)

Tbk

PT

230,600

51,085

Unilever

Indonesia

Tbk

PT

41,300

17,155

United

Tractors

Tbk

PT

100

147

475,776

Kuwait

–

0.6%

Agility

Public

Warehousing

Co.

Ksc

7,797

24,532

Boubyan

Bank

Kscp

5,250

11,413

Kuwait

Finance

House

Kscp

29,129

69,898

Mobile

Telecommunications

Co.

Kscp

8,472

16,956

National

Bank

of

Kuwait

Sakp

42,863

117,080

239,879

Malaysia

–

1.6%

Axiata

Group

BHD

28,900

27,303

CIMB

Group

Holdings

BHD

38,200

38,607

Dialog

Group

BHD

25,300

18,776

Digi.com

BHD

24,800

25,367

Hap

Seng

Consolidated

BHD

2,300

4,509

Hartalega

Holdings

BHD

9,500

23,840

Hong

Leong

Bank

BHD

4,100

17,836

Hong

Leong

Financial

Group

BHD

700

2,833

IHH

Healthcare

BHD

20,200

26,530

IOI

Corp.

BHD

15,100

15,076

Kossan

Rubber

Industries

4,100

4,444

Kuala

Lumpur

Kepong

BHD

2,200

11,815

Malayan

Banking

BHD

39,900

80,162

Maxis

BHD

19,800

22,234

MISC

BHD

2,000

3,310

Nestle

Malaysia

BHD

400

13,251

Petronas

Chemicals

Group

BHD

19,800

39,635

Petronas

Dagangan

BHD

1,700

8,366

Petronas

Gas

BHD

4,600

17,675

PPB

Group

BHD

2,400

10,839

Press

Metal

Aluminium

Holdings

BHD

13,800

17,518

Public

Bank

BHD

95,000

96,243

RHB

Bank

BHD

11,500

14,626

Sime

Darby

BHD

17,800

9,820

Sime

Darby

Plantation

BHD

12,900

14,297

Supermax

Corp.

BHD

9,300

13,690

Tenaga

Nasional

BHD

13,600

33,067

Top

Glove

Corp.

BHD

30,500

42,067

653,736

Mexico

–

1.4%

America

Movil

SAB

de

CV,

Series

L

139,000

97,767

Arca

Continental

SAB

de

CV

2,200

11,885

Becle

SAB

de

CV

3,200

7,710

Cemex

SAB

de

CV

(a)

83,600

66,302

Fomento

Economico

Mexicano

SAB

de

CV

10,700

83,390

Grupo

Bimbo

SAB

de

CV,

Series

A

7,000

14,032

Grupo

Elektra

SAB

de

CV

335

25,208

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

13,900

79,247

Grupo

Mexico

SAB

de

CV,

Series

B

19,600

89,264

Industrias

Penoles

SAB

de

CV

(a)

700

9,029

Infraestructura

Energetica

Nova

SAB

de

CV

(a)

2,800

12,075

Wal-Mart

de

Mexico

SAB

de

CV

29,100

95,820

591,729

Peru

–

0.1%

Credicorp

Ltd.

313

37,372

Philippines

–

0.6%

Aboitiz

Equity

Ventures,

Inc.

12,900

9,511

50

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

Philippines

–

0.6%

(continued)

Ayala

Corp.

1,590

24,469

Ayala

Land,

Inc.

32,900

22,002

Bank

of

The

Philippine

Islands

9,940

17,093

BDO

Unibank

,

Inc.

5,850

12,526

Globe

Telecom,

Inc.

160

6,091

JG

Summit

Holdings,

Inc.

19,162

20,993

Manila

Electric

Co.

790

4,476

PLDT,

Inc.

535

14,178

San

Miguel

Corp.

2,550

6,090

San

Miguel

Food

and

Beverage,

Inc.

4,820

6,672

SM

Investments

Corp.

3,140

62,670

SM

Prime

Holdings,

Inc.

60,900

43,572

Universal

Robina

Corp.

5,010

14,244

264,587

Poland

–

0.5%

Allegro.Eu

SA

(a)(b)

1,067

16,372

CD

Projekt

SA

(a)

418

19,209

Cyfrowy

Polsat

SA

1,745

13,595

Dino

Polska

SA

(a)(b)

268

17,414

KGHM

Polska

Miedz

SA

(a)

869

44,631

Polski

Koncern

Naftowy

ORLEN

SA

1,826

32,153

Polskie

Gornictwo

Naftowe

i

Gazownictwo

SA

8,796

15,275

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

(a)

5,277

49,120

Powszechny

Zaklad

Ubezpieczen

SA

(a)

1,844

15,899

223,668

Qatar

–

0.6%

Industries

Qatar

QSC

13,141

48,652

Masraf

Al

Rayan

QSC

20,421

25,059

Mesaieed

Petrochemical

Holding

Co.

23,347

12,375

Ooredoo

QPSC

5,087

9,934

Qatar

Islamic

Bank

SAQ

7,740

36,989

Qatar

National

Bank

QPSC

27,000

132,738

265,747

Russia

–

2.6%

Gazprom

PJSC

69,520

213,071

LUKOIL

PJSC

2,071

159,898

MMC

Norilsk

Nickel

PJSC

338

115,524

Novatek

PJSC

6,294

113,848

Novolipetsk

Steel

PJSC

4,350

15,391

Polyus

PJSC

172

31,777

Rosneft

Oil

Co.

PJSC

13,520

94,643

Sberbank

of

Russia

PJSC

60,410

239,560

Severstal

PAO

697

16,471

Surgutneftegas

PJSC

51,900

23,546

Tatneft

PJSC

9,000

60,802

1,084,531

Saudi

Arabia

–

2.3%

Al

Rajhi

Bank

7,691

202,832

Almarai

Co.

JSC

1,105

15,853

Banque

Saudi

Fransi

3,115

32,395

Riyad

Bank

7,950

56,496

Saudi

Arabian

Mining

Co.

(a)

2,085

31,858

Saudi

Arabian

Oil

Co.

(b)

10,226

96,531

Saudi

Basic

Industries

Corp.

4,886

161,559

Saudi

British

Bank

(The)

1,992

16,334

Saudi

Electricity

Co.

3,502

24,280

Saudi

National

Bank

(a)

12,756

193,206

Saudi

Telecom

Co.

3,812

129,096

960,440

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

South

Africa

–

3.2%

Anglo

American

Platinum

Ltd.

301

41,181

Bid

Corp.

Ltd.

(a)

2,121

41,802

Capitec

Bank

Holdings

Ltd.

(a)

446

45,696

Firstrand

Ltd.

30,944

108,867

Gold

Fields

Ltd.

5,229

49,452

Impala

Platinum

Holdings

Ltd.

4,885

91,430

Kumba

Iron

Ore

Ltd.

288

13,069

MTN

Group

Ltd.

(a)

10,202

64,429

Naspers

Ltd.,

Class

N

2,517

574,344

Northam

Platinum

Ltd.

(a)

1,828

31,500

Sanlam

Ltd.

11,963

46,194

Shoprite

Holdings

Ltd.

2,661

26,521

Sibanye

Stillwater

Ltd.

15,972

74,556

Standard

Bank

Group

Ltd.

7,781

63,294

Vodacom

Group

Ltd.

3,936

34,111

1,306,446

South

Korea

–

13.8%

Amorepacific

Corp.

153

37,206

Celltrion

Healthcare

Co.

Ltd.

(a)

484

48,820

Celltrion

,

Inc.

(a)

569

136,067

Cj

Cheiljedang

Corp.

38

13,511

Coway

Co.

Ltd.

322

19,366

Hana

Financial

Group,

Inc.

1,832

75,184

Hanjin

Kal

Corp.

(a)

28

1,397

Hanon

Systems

1,214

17,680

Hanwha

Solutions

Corp.

(a)

606

25,088

HLB,

Inc.

(a)

425

12,647

HYBE

Co.

Ltd.

(a)

72

15,729

Hyundai

Glovis

Co.

Ltd.

106

18,296

Hyundai

Mobis

Co.

Ltd.

388

94,179

Hyundai

Motor

Co.

797

151,898

Industrial

Bank

of

Korea

1,737

15,131

Kakao

Corp.

1,710

174,482

Kangwon

Land,

Inc.

(a)

295

6,710

KB

Financial

Group,

Inc.

2,277

111,972

KIA

Corp.

1,578

109,234

Korea

Electric

Power

Corp.

1,143

24,302

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

(a)

309

42,641

Korea

Zinc

Co.

Ltd.

64

25,661

KT&G

Corp.

697

51,632

LG

Chem

Ltd.

284

237,954

LG

Corp.

824

93,708

LG

Display

Co.

Ltd.

(a)

1,280

27,962

LG

Electronics,

Inc.

637

90,194

LG

Household

&

Health

Care

Ltd.

51

70,561

LG

Uplus

Corp.

332

3,940

Lotte

Chemical

Corp.

80

21,864

Mirae

Asset

Securities

Co.

Ltd.

2,374

21,342

NAVER

Corp.

823

265,985

NCSoft

Corp.

97

72,378

Netmarble

Corp.

(b)

145

16,881

POSCO

477

156,091

Samsung

Biologics

Co.

Ltd.

(a)(b)

92

66,497

Samsung

C&T

Corp.

583

71,280

Samsung

Electro-Mechanics

Co.

Ltd.

360

57,931

Samsung

Electronics

Co.

Ltd.

29,359

2,151,084

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

203

36,134

Samsung

Life

Insurance

Co.

Ltd.

423

31,069

Samsung

SDI

Co.

Ltd.

343

201,665

Samsung

SDS

Co.

Ltd.

214

35,207

51

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

South

Korea

–

13.8%

(continued)

Seegene

,

Inc.

160

13,463

Shin

Poong

Pharmaceutical

Co.

Ltd.

134

8,408

Shinhan

Financial

Group

Co.

Ltd.

2,929

105,327

SK

Biopharmaceuticals

Co.

Ltd.

(a)

50

4,900

SK

Holdings

Co.

Ltd.

204

50,617

SK

Hynix,

Inc.

3,138

361,095

SK

Innovation

Co.

Ltd.

(a)

351

85,356

SK

Telecom

Co.

Ltd.

234

63,846

S-Oil

Corp.

(a)

228

17,853

Woori

Financial

Group,

Inc.

2,840

27,319

5,696,744

Taiwan

–

14.0%

Accton

Technology

Corp.

3,000

34,153

Advantech

Co.

Ltd.

3,299

42,045

ASE

Technology

Holding

Co.

Ltd.

18,000

76,039

Asia

Cement

Corp.

14,000

25,035

Asustek

Computer,

Inc.

5,000

67,304

Catcher

Technology

Co.

Ltd.

4,000

28,282

Cathay

Financial

Holding

Co.

Ltd.

55,000

102,979

Chailease

Holding

Co.

Ltd.

7,280

52,646

Chang

Hwa

Commercial

Bank

Ltd.

32,600

20,891

Cheng

Shin

Rubber

Industry

Co.

Ltd.

14,000

27,115

China

Development

Financial

Holding

Corp.

81,000

37,842

China

Steel

Corp.

78,000

109,741

Chunghwa

Telecom

Co.

Ltd.

21,000

85,705

CTBC

Financial

Holding

Co.

Ltd.

110,000

89,786

Delta

Electronics,

Inc.

12,000

129,954

E.Sun

Financial

Holding

Co.

Ltd.

71,817

69,290

Far

Eastern

New

Century

Corp.

22,000

26,188

Far

Eastone

Telecommunications

Co.

Ltd.

8,000

18,645

Feng

Tay

Enterprise

Co.

Ltd.

3,600

26,743

First

Financial

Holding

Co.

Ltd.

57,950

47,508

Formosa

Chemicals

&

Fibre

Corp.

23,000

74,847

Formosa

Petrochemical

Corp.

9,000

33,348

Formosa

Plastics

Corp.

25,000

94,870

Fubon

Financial

Holding

Co.

Ltd.

42,000

96,531

Globalwafers

Co.

Ltd.

1,000

30,931

Hon

Hai

Precision

Industry

Co.

Ltd.

72,000

299,001

Hotai

Motor

Co.

Ltd.

2,000

43,246

Hua

Nan

Financial

Holdings

Co.

Ltd.

70,417

47,898

Largan

Precision

Co.

Ltd.

452

50,325

Lite-On

Technology

Corp.

15,000

34,314

MediaTek

,

Inc.

9,000

381,806

Mega

Financial

Holding

Co.

Ltd.

66,000

77,145

Nan

Ya

Plastics

Corp.

28,000

88,412

Nanya

Technology

Corp.

8,000

26,234

Novatek

Microelectronics

Corp.

4,000

89,357

Pegatron

Corp.

12,000

31,618

Powerchip

Semiconductor

Manufacturing

Corp.

6,610

16,470

President

Chain

Store

Corp.

3,000

29,105

Quanta

Computer,

Inc.

18,000

63,409

Realtek

Semiconductor

Corp.

3,000

57,137

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

21,000

32,666

SinoPac

Financial

Holdings

Co.

Ltd.

85,000

40,472

Taishin

Financial

Holding

Co.

Ltd.

76,341

38,535

Taiwan

Cement

Corp.

25,200

47,002

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

65,740

50,365

Taiwan

High

Speed

Rail

Corp.

12,000

13,511

Taiwan

Mobile

Co.

Ltd.

6,000

21,480

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

108,000

2,319,837

Uni

-President

Enterprises

Corp.

34,000

91,412

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

97.4%

(continued)

Taiwan

–

14.0%

(continued)

United

Microelectronics

Corp.

68,000

138,030

Vanguard

International

Semiconductor

Corp.

5,000

21,390

Win

Semiconductors

Corp.

2,000

26,241

Wiwynn

Corp.

1,000

32,721

Yageo

Corp.

2,000

38,879

Yuanta

Financial

Holding

Co.

Ltd.

68,640

63,890

Zhen

Ding

Technology

Holding

Ltd.

4,000

15,179

5,775,505

Tanzania

–

0.1%

AngloGold

Ashanti

Ltd.

2,192

45,359

Thailand

–

1.5%

Advanced

INFO

Service

PCL,

NVDR

5,100

28,008

Airports

of

Thailand

PCL,

NVDR

22,600

45,000

Bangkok

Bank

PCL,

NVDR

4,100

15,998

Bangkok

Dusit

Medical

Services

PCL,

NVDR

28,100

19,583

Bangkok

Expressway

&

Metro

PCL,

NVDR

15,500

3,982

Bank

of

Ayudhya

PCL,

NVDR

14,900

17,945

Central

Pattana

PCL,

NVDR

7,500

12,585

Central

Retail

Corp.

PCL,

NVDR

17,700

19,896

Charoen

Pokphand

Foods

PCL,

NVDR

23,800

22,166

CP

ALL

PCL,

NVDR

(a)

25,400

50,984

Delta

Electronics

Thailand

PCL,

NVDR

2,300

26,149

Energy

Absolute

PCL,

NVDR

12,000

23,509

Global

Power

Synergy

PCL,

NVDR

3,000

7,009

Gulf

Energy

Development

PCL,

NVDR

32,820

36,364

Home

Product

Center

PCL,

NVDR

25,000

11,321

Indorama

Ventures

PCL,

NVDR

13,900

21,428

Intouch

Holdings

PCL,

NVDR

9,000

18,426

Kasikornbank

PCL,

NVDR

6,600

27,979

PTT

Exploration

&

Production

PCL,

NVDR

6,500

24,841

PTT

Global

Chemical

PCL,

NVDR

8,900

19,365

PTT

PCL,

NVDR

49,400

63,460

Scg

Packaging

PCL,

NVDR

2,000

3,581

Siam

Cement

PCL

(The),

NVDR

2,800

41,545

Siam

Commercial

Bank

PCL

(The),

NVDR

10,000

33,721

Sri

Trang

Gloves

Thailand

PCL,

NVDR

5,100

7,248

602,093

Turkey

–

0.2%

Aselsan

Elektronik

Sanayi

ve

Ticaret

AS

3,722

6,733

BIM

Birlesik

Magazalar

AS

2,602

20,397

Enka

Insaat

ve

Sanayi

AS

12,338

11,681

Eregli

Demir

ve

Celik

Fabrikalari

TAS

5,966

13,699

Ford

Otomotiv

Sanayi

AS

370

7,844

KOC

Holding

AS

6,953

15,353

75,707

United

Arab

Emirates

–

0.6%

Abu

Dhabi

Commercial

Bank

PJSC

17,599

30,041

Abu

Dhabi

National

Oil

Co.

For

Distribution

PJSC

7,530

9,287

Emirates

NBD

Bank

PJSC

8,011

27,153

Emirates

Telecommunications

Group

Co.

PJSC

8,663

49,952

First

Abu

Dhabi

Bank

PJSC

25,019

96,993

International

Holdings

Co.

PJSC

(a)

2,205

54,448

267,874

United

States

–

0.1%

JBS

SA

5,700

31,729

Total

Common

Stocks

(cost

$29,058,292)

40,294,241

52

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Preferred

Stocks

–

2.4%

Brazil

–

1.1%

Banco

Bradesco

SA,

0.98%

28,050

123,207

Centrais

Eletricas

Brasileiras

SA,

Class

B,

4.75%

1,700

11,603

Itau

Unibanco

Holding

SA,

0.65%

27,600

139,545

Itausa

-

Investimentos

Itau

SA,

0.79%

26,500

49,188

Lojas

Americanas

SA,

1.19%

8,200

31,438

Petroleo

Brasileiro

SA,

6.43%

23,800

103,882

458,863

Chile

–

0.1%

Sociedad

Quimica

y

Minera

de

Chile

SA,

Class

B,

2.25%

925

48,501

Colombia

–

0.0%

Bancolombia

SA,

1.06%

1,896

14,191

Russia

–

0.2%

Sberbank

of

Russia

PJSC,

6.60%

4,890

18,459

Surgutneftegas

PJSC,

5.81%

65,000

37,095

Tatneft

PJSC,

Series

3,

17.79%

1,085

6,756

62,310

South

Korea

–

1.0%

Amorepacific

Corp.,

0.95%

126

10,081

Hyundai

Motor

Co.,

3.68%

229

21,925

Hyundai

Motor

Co.,

3.85%

160

15,247

Hyundai

Motor

Co.,

4.01%

35

3,147

LG

Chem

Ltd.,

2.35%

40

16,020

LG

Electronics,

Inc.,

1.72%

102

6,795

LG

Household

&

Health

Care

Ltd.,

1.54%

16

10,299

Samsung

Electro-Mechanics

Co.

Ltd.,

1.35%

16

1,568

Samsung

Electronics

Co.

Ltd.,

1.91%

5,000

329,483

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.,

5.60%

24

3,387

Samsung

Sdi

Co.

Ltd.,

0.24%

10

4,050

Shin

Poong

Pharmaceutical

Co.

Ltd.,

0.18%

10

655

422,657

Total

Preferred

Stocks

(cost

$685,966)

1,006,522

Rights

–

0.0%

South

Korea

–

0.0%

HYBE

Co.

Ltd.,

Rights

expiring

5/10/2021

(a)

4

155

Taiwan

–

0.0%

Powerchip

Semiconductor

Manufacturing

Corp.,

Rights

expiring

5/21/2021

(a)

574

608

Total

Rights

(cost

$0)

763

Principal

Amount

($)

Short-Term

Investments

–

0.0%

U.S.

Treasury

Securities

–

0.0%

U.S.

Treasury

Bills,

0.03%,

6/24/2021

(d)(e)

(cost

$5,000)

5,000

5,000

Shares

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$33,688)

33,688

33,688

Total

Investments

(cost

$29,782,946)

99.9%

41,340,214

Cash

and

Receivables

(Net)

0.1%

33,872

Net

Assets

100.0%

41,374,086

ADR—American

Depositary

Receipt

NVDR—Non-Voting

Depositary

Receipt

53

(a)

Non-income

producing

security.

(b)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$2,383,042

or

5.76%

of

net

assets.

(c)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$374,400

and

the

value

of

the

collateral

was

$386,127,

consisting

of

U.S.

Government

&

Agency

securities.

(d)

Held

by

a

counterparty

for

open

exchange

traded

derivative

contracts.

(e)

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

(f)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

28,912

8,159,760

(8,154,984)

—

—

33,688

0.1

16

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,827,114

10,166,058

(11,993,172)

—

—

—

—

810

2

Total

1,856,026

18,325,818

(20,148,156)

—

—

33,688

0.1

826

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

20.4

Financials

19.9

Consumer

Discretionary

18.2

Communication

Services

12.7

Materials

7.7

Consumer

Staples

5.8

Energy

5.0

Health

Care

3.7

Industrials

3.2

Utilities

1.8

Real

Estate

1.4

Registered

Investment

Companies

0.1

U.S.

Treasury

Securities

0.0

99.9

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

Emerging

Markets

Index

1

6/18/2021

66,687

66,830

143

54

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

Core

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.1%

Ally

Auto

Receivables

Trust,

Series

2019-2,

Class

A3,

2.23%,

1/16/2024

20,268

20,506

Carmax

Auto

Owner

Trust,

Series

2018-4,

Class

A3,

3.36%,

9/15/2023

31,406

31,948

GM

Financial

Automobile

Leasing

Trust

2020-1,

Series

2020-1,

Class

A4,

1.70%,

12/20/2023

50,000

50,717

Hyundai

Auto

Receivables

Trust,

Series

2020-B,

Class

A3,

0.48%,

12/16/2024

10,000

10,018

Nissan

Auto

Receivables

2020-A

Owner

Trust,

Series

2020-A,

Class

A3,

1.38%,

12/16/2024

25,000

25,347

Total

Asset-Backed

Securities

(cost

$138,668)

138,536

Commercial

Mortgage-Backed

Securities

–

1.3%

Bank

Trust

Series

2019-BN21,

Class

A5,

2.85%,

10/17/2052

50,000

52,690

Series

2019-BN18,

Class

A4,

3.58%,

5/15/2062

45,000

49,978

Barclays

Commercial

Mortgage

Trust,

Series

2019-C4,

Class

A5,

2.92%,

8/15/2052

25,000

26,423

Bbcms

Mortgage

Trust

2020-C6,

Series

2020-C6,

Class

A4,

2.64%,

2/15/2053

60,000

62,280

Benchmark

2020-Ig1

Mortgage

Trust,

Series

2020-IG1,

Class

AS,

2.91%,

9/15/2043

50,000

51,636

COMM

Mortgage

Trust,

Series

2015-LC23,

Class

A4,

3.77%,

10/10/2048

50,000

55,076

CSAIL

Commercial

Mortgage

Trust,

Series

2018-

CX11,

Class

A4,

3.77%,

4/15/2051

50,000

55,321

GS

Mortgage

Securities

Trust

Series

2017-GS8,

Class

A3,

3.21%,

11/10/2050

80,000

86,318

Series

2017-GS8,

Class

A4,

3.47%,

11/10/2050

25,000

27,407

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

2014-C17,

Class

A5,

3.74%,

8/15/2047

35,000

37,825

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2016-C29,

Series

2016-C29,

Class

A4,

3.33%,

5/15/2049

150,000

162,517

Morgan

Stanley

Capital

I

Trust

2016-Ubs9,

Series

2016-UBS9,

Class

A4,

3.59%,

3/15/2049

50,000

54,850

Morgan

Stanley

Capital

I

Trust

2020-L4,

Series

2020-L4,

Class

A3,

2.70%,

2/15/2053

100,000

104,050

UBS

Commercial

Mortgage

Trust,

Series

2018-

C8,

Class

A3,

3.72%,

2/15/2051

30,000

33,185

Wells

Fargo

Commercial

Mortgage

Trust

Series

2015-C28,

Class

A4,

3.54%,

5/15/2048

60,000

65,395

Series

2016-NXS5,

Class

A5,

3.37%,

1/15/2059

50,000

54,332

WFRBS

Commercial

Mortgage

Trust

Series

2013-C14,

Class

A4,

3.07%,

6/15/2046

39,000

40,560

Series

2014-C24,

Class

A5,

3.61%,

11/15/2047

30,000

32,441

Series

2014-C22,

Class

A5,

3.75%,

9/15/2057

10,000

10,870

Total

Commercial

Mortgage-Backed

Securities

(cost

$1,066,101)

1,063,154

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

Basic

Materials

–

0.6%

Air

Products

And

Chemicals,

Inc.

2.05%,

5/15/2030

10,000

10,007

2.80%,

5/15/2050

10,000

9,484

Dow

Chemical

Co.

(The),

4.38%,

11/15/2042

20,000

23,013

DuPont

de

Nemours,

Inc.,

4.49%,

11/15/2025

15,000

17,046

Ecolab,

Inc.

4.80%,

3/24/2030

5,000

5,999

1.30%,

1/30/2031

20,000

18,389

2.13%,

8/15/2050

10,000

8,336

Huntsman

International

LLC,

4.50%,

5/01/2029

10,000

11,229

Kinross

Gold

Corp.,

5.95%,

3/15/2024

12,000

13,457

LYB

International

Finance

III

LLC

3.38%,

10/01/2040

20,000

20,170

3.80%,

10/01/2060

10,000

9,840

LyondellBasell

Industries

NV,

4.63%,

2/26/2055

10,000

11,502

Mosaic

Co.

(The)

4.25%,

11/15/2023

10,000

10,801

4.88%,

11/15/2041

10,000

11,367

Newmarket

Corp.,

2.70%,

3/18/2031

25,000

24,639

Newmont

Corp.,

4.88%,

3/15/2042

35,000

43,320

Nucor

Corp.,

4.13%,

9/15/2022

25,000

26,013

Nutrien

Ltd.

4.20%,

4/01/2029

20,000

22,699

2.95%,

5/13/2030

40,000

41,764

3.95%,

5/13/2050

15,000

16,630

Sherwin-Williams

Co.

(The),

4.00%,

12/15/2042

40,000

43,971

Southern

Copper

Corp.

3.88%,

4/23/2025

30,000

32,793

5.88%,

4/23/2045

(a)

20,000

26,322

Suzano

Austria

GMBH,

5.00%,

1/15/2030

20,000

22,088

Vale

Overseas

Ltd.

6.25%,

8/10/2026

20,000

23,924

6.88%,

11/10/2039

5,000

6,907

511,710

Communications

–

2.7%

Alphabet,

Inc.

1.10%,

8/15/2030

10,000

9,291

2.25%,

8/15/2060

10,000

8,325

Amazon.com,

Inc.

2.50%,

11/29/2022

25,000

25,746

1.50%,

6/03/2030

25,000

24,079

4.05%,

8/22/2047

35,000

41,359

2.70%,

6/03/2060

10,000

9,044

America

Movil

SAB

de

CV

2.88%,

5/07/2030

50,000

51,711

6.13%,

3/30/2040

20,000

27,835

55

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Communications

–

2.7%

(continued)

AT&T,

Inc.

3.40%,

5/15/2025

10,000

10,892

3.60%,

7/15/2025

15,000

16,467

4.13%,

2/17/2026

25,000

28,135

4.30%,

2/15/2030

25,000

28,184

2.25%,

2/01/2032

50,000

47,388

4.85%,

3/01/2039

25,000

29,142

3.50%,

6/01/2041

50,000

49,357

3.10%,

2/01/2043

40,000

37,121

3.50%,

9/15/2053

(b)

69,000

63,676

3.80%,

12/01/2057

(b)

15,000

14,319

3.85%,

6/01/2060

45,000

43,202

Baidu,

Inc.

3.88%,

9/29/2023

20,000

21,321

3.08%,

4/07/2025

20,000

21,099

4.13%,

6/30/2025

20,000

21,986

Booking

Holdings,

Inc.,

3.65%,

3/15/2025

50,000

54,657

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.50%,

2/01/2024

25,000

27,324

4.91%,

7/23/2025

10,000

11,367

2.30%,

2/01/2032

45,000

42,178

3.50%,

6/01/2041

45,000

43,227

4.80%,

3/01/2050

10,000

10,990

3.70%,

4/01/2051

15,000

14,161

Cisco

Systems,

Inc.,

2.95%,

2/28/2026

25,000

27,280

Comcast

Corp.

2.35%,

1/15/2027

45,000

47,178

4.15%,

10/15/2028

25,000

28,757

4.60%,

10/15/2038

25,000

30,416

3.25%,

11/01/2039

25,000

25,906

3.75%,

4/01/2040

15,000

16,573

2.80%,

1/15/2051

20,000

18,551

4.95%,

10/15/2058

40,000

53,345

2.65%,

8/15/2062

50,000

43,663

Corning,

Inc.,

4.38%,

11/15/2057

35,000

38,668

Deutsche

Telekom

International

Finance

BV,

8.75%,

6/15/2030

10,000

14,899

Discovery

Communications

LLC

3.95%,

3/20/2028

25,000

27,467

4.00%,

9/15/2055

(b)

24,000

23,509

Fox

Corp.

4.71%,

1/25/2029

10,000

11,608

3.50%,

4/08/2030

(a)

10,000

10,740

Interpublic

Group

of

Cos.,

Inc.

(The),

3.38%,

3/01/2041

40,000

39,957

Juniper

Networks,

Inc.,

1.20%,

12/10/2025

10,000

9,907

Motorola

Solutions,

Inc.

2.30%,

11/15/2030

45,000

43,471

5.50%,

9/01/2044

22,000

27,324

Omnicom

Group,

Inc.,

2.60%,

8/01/2031

25,000

24,969

Rogers

Communications,

Inc.,

2.90%,

11/15/2026

35,000

37,399

TD

Ameritrade

Holding

Corp.,

2.75%,

10/01/2029

(a)

50,000

52,591

Telefonica

Emisiones

SA,

7.05%,

6/20/2036

20,000

28,101

TELUS

Corp.,

2.80%,

2/16/2027

40,000

42,607

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Communications

–

2.7%

(continued)

Time

Warner

Cable

LLC

7.30%,

7/01/2038

10,000

14,166

5.50%,

9/01/2041

25,000

30,007

T-Mobile

USA,

Inc.

1.50%,

2/15/2026

(b)

20,000

20,035

3.75%,

4/15/2027

(b)

10,000

11,015

2.05%,

2/15/2028

(b)

30,000

29,805

3.88%,

4/15/2030

(b)

10,000

10,912

2.55%,

2/15/2031

(b)

20,000

19,725

4.50%,

4/15/2050

(b)

10,000

11,280

TWDC

Enterprises

18

Corp.,

4.13%,

6/01/2044

15,000

17,350

VeriSign,

Inc.,

4.75%,

7/15/2027

35,000

37,284

Verizon

Communications,

Inc.

2.63%,

8/15/2026

30,000

31,865

1.75%,

1/20/2031

5,000

4,696

2.55%,

3/21/2031

50,000

50,177

2.65%,

11/20/2040

20,000

18,561

3.40%,

3/22/2041

10,000

10,236

3.85%,

11/01/2042

20,000

21,773

2.88%,

11/20/2050

55,000

49,969

2.99%,

10/30/2056

(b)

23,000

20,615

3.00%,

11/20/2060

10,000

8,951

3.70%,

3/22/2061

50,000

50,608

ViacomCBS

,

Inc.

4.38%,

3/15/2043

20,000

21,665

4.95%,

5/19/2050

(a)

10,000

11,680

Vodafone

Group

PLC

4.38%,

5/30/2028

25,000

28,781

5.25%,

5/30/2048

10,000

12,730

Walt

Disney

Co.

(The)

3.70%,

10/15/2025

50,000

55,317

2.65%,

1/13/2031

50,000

51,416

3.50%,

5/13/2040

30,000

32,047

Weibo

Corp.,

3.50%,

7/05/2024

20,000

21,023

2,262,158

Consumer,

Cyclical

–

1.7%

American

Honda

Finance

Corp.

0.40%,

10/21/2022

20,000

20,029

0.88%,

7/07/2023

50,000

50,485

1.20%,

7/08/2025

20,000

20,141

Aptiv

Corp.,

4.15%,

3/15/2024

15,000

16,360

AutoNation,

Inc.,

4.75%,

6/01/2030

25,000

29,176

AutoZone,

Inc.,

3.25%,

4/15/2025

15,000

16,116

Continental

Airlines

Pass-Through

Trust,

Series

2012-1,

Class

A,

4.15%,

4/11/2024

15,156

15,987

D.R.

Horton,

Inc.,

5.75%,

8/15/2023

30,000

33,098

Delta

Air

Lines

Pass

Through

Trust,

Series

2019-

1,

Class

AA,

3.20%,

4/25/2024

50,000

52,184

Dollar

General

Corp.,

3.50%,

4/03/2030

10,000

10,805

General

Motors

Co.,

6.60%,

4/01/2036

15,000

19,967

General

Motors

Financial

Co.,

Inc.

5.20%,

3/20/2023

50,000

54,134

3.70%,

5/09/2023

20,000

21,058

1.70%,

8/18/2023

10,000

10,210

4.35%,

1/17/2027

20,000

22,332

2.35%,

1/08/2031

45,000

43,087

Hasbro,

Inc.,

2.60%,

11/19/2022

15,000

15,460

56

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Consumer,

Cyclical

–

1.7%

(continued)

Home

Depot,

Inc.

(The)

3.35%,

9/15/2025

25,000

27,475

1.38%,

3/15/2031

19,000

17,697

3.50%,

9/15/2056

15,000

16,126

Hyatt

Hotels

Corp.,

4.38%,

9/15/2028

25,000

27,242

Jetblue

Pass-Through

Trust,

Series

2020-1,

Class

A,

4.00%,

11/15/2032

38,691

41,899

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

15,000

15,729

Lear

Corp.,

5.25%,

5/15/2049

25,000

29,511

Lowe's

Cos.,

Inc.

4.05%,

5/03/2047

10,000

11,100

3.00%,

10/15/2050

10,000

9,450

Magna

International,

Inc.,

2.45%,

6/15/2030

10,000

10,138

McDonald's

Corp.

3.30%,

7/01/2025

60,000

65,347

2.63%,

9/01/2029

20,000

20,722

4.88%,

12/09/2045

15,000

18,549

4.45%,

9/01/2048

10,000

11,806

Mohawk

Industries,

Inc.,

3.63%,

5/15/2030

10,000

10,831

Nike,

Inc.

2.38%,

11/01/2026

40,000

42,630

3.25%,

3/27/2040

40,000

42,510

O'Reilly

Automotive,

Inc.,

1.75%,

3/15/2031

20,000

18,740

PACCAR

Financial

Corp.,

0.35%,

2/02/2024

50,000

49,837

Southwest

Airlines

Co.

5.25%,

5/04/2025

20,000

22,913

2.63%,

2/10/2030

5,000

5,039

Starbucks

Corp.

2.00%,

3/12/2027

25,000

25,638

4.50%,

11/15/2048

10,000

11,778

4.45%,

8/15/2049

40,000

47,198

Target

Corp.,

2.50%,

4/15/2026

50,000

53,633

Toyota

Motor

Corp.,

0.68%,

3/25/2024

50,000

50,221

Toyota

Motor

Credit

Corp.

0.35%,

10/14/2022

70,000

70,136

1.15%,

8/13/2027

20,000

19,567

Walmart,

Inc.

3.40%,

6/26/2023

50,000

53,243

3.25%,

7/08/2029

15,000

16,601

2.38%,

9/24/2029

25,000

26,099

3.95%,

6/28/2038

10,000

11,686

4.00%,

4/11/2043

15,000

17,635

4.05%,

6/29/2048

10,000

12,028

1,381,383

Consumer,

Non-cyclical

–

5.2%

Abbott

Laboratories

3.40%,

11/30/2023

20,000

21,440

4.90%,

11/30/2046

20,000

26,272

AbbVie,

Inc.

3.20%,

11/21/2029

20,000

21,367

4.05%,

11/21/2039

35,000

39,128

4.40%,

11/06/2042

45,000

52,108

Advocate

Health

&

Hospitals

Corp.,

Series

2020,

2.21%,

6/15/2030

15,000

14,987

Aetna,

Inc.

2.75%,

11/15/2022

10,000

10,291

4.75%,

3/15/2044

35,000

41,717

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Consumer,

Non-cyclical

–

5.2%

(continued)

Altria

Group,

Inc.

4.40%,

2/14/2026

10,000

11,294

2.45%,

2/04/2032

10,000

9,404

5.80%,

2/14/2039

15,000

18,158

3.40%,

2/04/2041

50,000

45,998

4.50%,

5/02/2043

15,000

15,658

4.45%,

5/06/2050

15,000

15,227

4.00%,

2/04/2061

10,000

9,161

Amgen,

Inc.

2.30%,

2/25/2031

45,000

44,647

4.56%,

6/15/2048

20,000

23,955

2.77%,

9/01/2053

(b)

10,000

8,891

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

3.65%,

2/01/2026

50,000

55,351

4.90%,

2/01/2046

15,000

17,919

Anheuser-Busch

InBev

Finance,

Inc.,

4.00%,

1/17/2043

40,000

43,251

Anheuser-Busch

InBev

Worldwide,

Inc.

3.50%,

6/01/2030

10,000

10,902

4.38%,

4/15/2038

25,000

28,478

4.95%,

1/15/2042

25,000

30,194

3.75%,

7/15/2042

20,000

20,860

5.80%,

1/23/2059

20,000

27,268

Anthem,

Inc.

2.25%,

5/15/2030

10,000

9,861

6.38%,

6/15/2037

10,000

13,823

4.63%,

5/15/2042

35,000

41,864

4.65%,

8/15/2044

15,000

17,989

4.38%,

12/01/2047

10,000

11,656

3.60%,

3/15/2051

10,000

10,413

Ascension

Health,

3.95%,

11/15/2046

25,000

29,197

Banner

Health,

2.34%,

1/01/2030

25,000

25,128

Baptist

Healthcare

System

Obligated

Group,

Series

20B,

3.54%,

8/15/2050

25,000

25,898

BAT

Capital

Corp.

3.22%,

9/06/2026

40,000

42,348

4.39%,

8/15/2037

20,000

20,605

BAT

International

Finance

PLC,

1.67%,

3/25/2026

30,000

29,849

Baxalta

,

Inc.,

4.00%,

6/23/2025

15,000

16,643

Becton

Dickinson

And

Co.

3.70%,

6/06/2027

10,000

11,111

3.79%,

5/20/2050

20,000

21,297

Becton,

Dickinson

&

Co.,

3.73%,

12/15/2024

10,000

10,948

Boston

Scientific

Corp.

3.85%,

5/15/2025

40,000

44,270

1.90%,

6/01/2025

10,000

10,353

2.65%,

6/01/2030

25,000

25,344

Bristol-Myers

Squibb

Co.

2.60%,

5/16/2022

40,000

40,995

3.90%,

2/20/2028

10,000

11,320

1.45%,

11/13/2030

10,000

9,421

2.35%,

11/13/2040

20,000

18,510

4.55%,

2/20/2048

15,000

18,463

2.55%,

11/13/2050

20,000

17,957

Campbell

Soup

Co.

2.38%,

4/24/2030

19,000

18,889

3.13%,

4/24/2050

15,000

14,096

57

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Consumer,

Non-cyclical

–

5.2%

(continued)

Cigna

Corp.

4.13%,

11/15/2025

30,000

33,682

4.50%,

2/25/2026

5,000

5,699

2.38%,

3/15/2031

60,000

59,242

Clorox

Co.

(The),

3.50%,

12/15/2024

10,000

10,954

Coca-Cola

Co.

(The)

1.45%,

6/01/2027

25,000

25,089

1.00%,

3/15/2028

20,000

19,177

2.25%,

1/05/2032

25,000

25,008

2.88%,

5/05/2041

25,000

24,926

2.50%,

3/15/2051

10,000

8,927

Coca-Cola

Femsa

SAB

de

CV,

2.75%,

1/22/2030

50,000

51,175

Colgate-Palmolive

Co.,

3.70%,

8/01/2047

20,000

23,226

CommonSpirit

Health,

3.35%,

10/01/2029

10,000

10,684

Community

Health

Network,

Inc.,

Series

20-A,

3.10%,

5/01/2050

15,000

14,367

Conagra

Brands,

Inc.,

3.20%,

1/25/2023

6,000

6,236

Constellation

Brands,

Inc.

4.65%,

11/15/2028

10,000

11,592

3.75%,

5/01/2050

15,000

15,841

CVS

Health

Corp.

3.00%,

8/15/2026

10,000

10,759

3.63%,

4/01/2027

10,000

11,055

1.30%,

8/21/2027

20,000

19,504

4.30%,

3/25/2028

10,000

11,380

3.75%,

4/01/2030

15,000

16,476

1.88%,

2/28/2031

45,000

42,644

5.05%,

3/25/2048

40,000

49,227

Danaher

Corp.,

2.60%,

10/01/2050

50,000

44,671

Eli

Lilly

&

Co.,

3.95%,

3/15/2049

15,000

17,210

Emory

University,

Series

2020,

2.14%,

9/01/2030

15,000

15,018

Equifax,

Inc.,

2.60%,

12/15/2025

15,000

15,826

Fomento

Economico

Mexicano

SAB

de

CV,

3.50%,

1/16/2050

20,000

20,313

General

Mills,

Inc.

4.20%,

4/17/2028

25,000

28,467

2.88%,

4/15/2030

10,000

10,380

George

Washington

University

(The),

Series

2014,

4.30%,

9/15/2044

20,000

24,034

Georgetown

University

(The),

Series

B,

4.32%,

4/01/2049

20,000

24,029

Gilead

Sciences,

Inc.

3.50%,

2/01/2025

25,000

27,206

3.65%,

3/01/2026

40,000

44,162

2.95%,

3/01/2027

25,000

26,812

1.65%,

10/01/2030

25,000

23,337

2.80%,

10/01/2050

25,000

22,311

GlaxoSmithKline

Capital,

Inc.

3.38%,

5/15/2023

40,000

42,443

6.38%,

5/15/2038

20,000

29,181

Global

Payments,

Inc.,

3.75%,

6/01/2023

20,000

21,167

Hackensack

Meridian

Health,

Inc.,

Series

2020,

2.68%,

9/01/2041

45,000

42,493

HCA,

Inc.

4.75%,

5/01/2023

50,000

53,888

5.00%,

3/15/2024

10,000

11,143

5.25%,

4/15/2025

10,000

11,495

5.25%,

6/15/2049

5,000

6,157

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Consumer,

Non-cyclical

–

5.2%

(continued)

Hershey

Co.

(The),

2.05%,

11/15/2024

40,000

41,891

Hormel

Foods

Corp.,

1.80%,

6/11/2030

40,000

38,730

Humana,

Inc.,

3.85%,

10/01/2024

30,000

32,676

J

M

Smucker

Co.

(The),

3.50%,

3/15/2025

40,000

43,626

Johnson

&

Johnson

2.63%,

1/15/2025

40,000

42,738

0.55%,

9/01/2025

10,000

9,920

1.30%,

9/01/2030

25,000

23,661

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

7,000

7,492

3.40%,

11/15/2025

20,000

21,858

4.60%,

5/25/2028

20,000

23,274

3.80%,

5/01/2050

10,000

10,655

Kimberly-Clark

Corp.,

1.05%,

9/15/2027

45,000

43,984

Laboratory

Corp.

of

America

Holdings

2.30%,

12/01/2024

40,000

41,780

3.60%,

2/01/2025

10,000

10,863

Mass

General

Brigham,

Inc.,

Series

2020,

3.19%,

7/01/2049

25,000

25,353

Massachusetts

Institute

of

Technology,

3.96%,

7/01/2038

25,000

29,871

McCormick

&

Co.,

Inc.

3.15%,

8/15/2024

10,000

10,712

0.90%,

2/15/2026

20,000

19,584

1.85%,

2/15/2031

15,000

14,251

McKesson

Corp.,

0.90%,

12/03/2025

20,000

19,714

Mead

Johnson

Nutrition

Co.,

5.90%,

11/01/2039

20,000

27,813

Merck

&

Co.,

Inc.

2.90%,

3/07/2024

20,000

21,354

0.75%,

2/24/2026

15,000

14,870

3.90%,

3/07/2039

10,000

11,461

4.15%,

5/18/2043

15,000

17,746

Moody's

Corp.,

4.50%,

9/01/2022

100,000

104,275

Mount

Sinai

Hospitals

Group,

Inc.

Series

2017,

3.98%,

7/01/2048

20,000

21,708

Series

2019,

3.74%,

7/01/2049

25,000

26,421

Mylan,

Inc.

4.20%,

11/29/2023

25,000

26,938

4.55%,

4/15/2028

10,000

11,350

New

York

And

Presbyterian

Hospital

(The),

Series

2019,

3.95%,

8/01/2119

10,000

11,139

Novartis

Capital

Corp.,

4.40%,

5/06/2044

20,000

24,655

Paypal

Holdings,

Inc.,

1.35%,

6/01/2023

60,000

61,120

PayPal

Holdings,

Inc.,

2.20%,

9/26/2022

100,000

102,557

Peacehealth

Obligated

Group,

Series

2020,

3.22%,

11/15/2050

10,000

9,924

PepsiCo,

Inc.

2.75%,

3/01/2023

11,000

11,498

3.50%,

3/19/2040

20,000

22,087

2.88%,

10/15/2049

20,000

19,509

Pfizer,

Inc.

3.60%,

9/15/2028

55,000

61,572

4.00%,

12/15/2036

20,000

23,448

2.55%,

5/28/2040

25,000

23,997

4.00%,

3/15/2049

25,000

29,065

Philip

Morris

International,

Inc.,

4.25%,

11/10/2044

15,000

16,894

58

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Consumer,

Non-cyclical

–

5.2%

(continued)

Procter

&

Gamble

Co.

(The)

2.80%,

3/25/2027

35,000

38,059

3.00%,

3/25/2030

20,000

21,670

Regeneron

Pharmaceuticals,

Inc.

1.75%,

9/15/2030

45,000

41,930

2.80%,

9/15/2050

50,000

43,561

S&P

Global,

Inc.,

1.25%,

8/15/2030

10,000

9,229

Sharp

Healthcare,

Series

20B,

2.68%,

8/01/2050

45,000

41,704

Shire

Acquisitions

Investments

Ireland

DAC,

3.20%,

9/23/2026

25,000

27,161

Smith

&

Nephew

PLC,

2.03%,

10/14/2030

45,000

42,950

Stryker

Corp.,

3.38%,

11/01/2025

(a)

40,000

43,776

Sutter

Health,

Series

20A,

3.16%,

8/15/2040

40,000

40,431

SYSCO

Corp.

4.85%,

10/01/2045

15,000

17,973

3.30%,

2/15/2050

20,000

19,336

Takeda

Pharmaceutical

Co.

Ltd.,

4.40%,

11/26/2023

50,000

54,624

Texas

Health

Resources,

4.33%,

11/15/2055

35,000

43,428

Thermo

Fisher

Scientific,

Inc.,

2.95%,

9/19/2026

10,000

10,793

Trinity

Health

Corp.,

Series

2021,

2.63%,

12/01/2040

45,000

43,278

Trustees

of

The

University

of

Pennsylvania

(The),

3.61%,

2/15/2119

10,000

10,338

UnitedHealth

Group,

Inc.

3.10%,

3/15/2026

40,000

43,649

2.88%,

8/15/2029

25,000

26,575

4.25%,

6/15/2048

10,000

11,840

4.45%,

12/15/2048

10,000

12,239

3.88%,

8/15/2059

15,000

16,768

Utah

Acquisition

Sub,

Inc.,

3.95%,

6/15/2026

10,000

11,051

Viatris

,

Inc.,

4.00%,

6/22/2050

(b)

10,000

9,952

William

Marsh

Rice

University,

3.57%,

5/15/2045

15,000

17,036

Wyeth

LLC,

6.50%,

2/01/2034

25,000

35,715

Zimmer

Biomet

Holdings,

Inc.

3.70%,

3/19/2023

10,000

10,554

3.05%,

1/15/2026

15,000

16,180

Zoetis,

Inc.,

3.90%,

8/20/2028

40,000

44,953

4,321,574

Energy

–

2.5%

Boardwalk

Pipelines

LP,

3.40%,

2/15/2031

15,000

15,546

BP

Capital

Markets

America,

Inc.

3.79%,

2/06/2024

10,000

10,842

3.12%,

5/04/2026

25,000

27,023

3.59%,

4/14/2027

30,000

33,124

3.63%,

4/06/2030

10,000

11,013

1.75%,

8/10/2030

(a)

10,000

9,513

2.94%,

6/04/2051

10,000

9,113

BP

Capital

Markets

PLC,

3.51%,

3/17/2025

10,000

10,962

Canadian

Natural

Resources

Ltd.

2.95%,

7/15/2030

25,000

25,287

7.20%,

1/15/2032

15,000

20,024

Cenovus

Energy,

Inc.,

6.75%,

11/15/2039

5,000

6,349

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

10,000

11,459

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Energy

–

2.5%

(continued)

Chevron

Corp.

2.36%,

12/05/2022

120,000

123,348

1.14%,

5/11/2023

100,000

101,758

Chevron

USA,

Inc.

0.43%,

8/11/2023

60,000

60,219

2.34%,

8/12/2050

15,000

12,785

Cimarex

Energy

Co.,

4.38%,

3/15/2029

10,000

11,227

CNOOC

Petroleum

North

America

Ulc

,

6.40%,

5/15/2037

20,000

26,333

ConocoPhillips,

4.85%,

8/15/2048

(b)

10,000

12,439

ConocoPhillips

Co.,

4.95%,

3/15/2026

(a)

20,000

23,350

Devon

Energy

Corp.,

4.75%,

5/15/2042

25,000

26,958

Diamondback

Energy,

Inc.,

3.25%,

12/01/2026

15,000

15,930

Ecopetrol

SA

5.88%,

9/18/2023

40,000

43,981

5.88%,

5/28/2045

11,000

11,744

Energy

Transfer

LP

4.25%,

3/15/2023

15,000

15,801

3.90%,

7/15/2026

50,000

54,089

3.75%,

5/15/2030

25,000

26,011

6.25%,

4/15/2049

20,000

23,924

Enterprise

Products

Operating

LLC

4.45%,

2/15/2043

40,000

44,971

4.85%,

3/15/2044

30,000

35,002

3.95%,

1/31/2060

10,000

10,061

Equinor

ASA

2.65%,

1/15/2024

10,000

10,561

3.70%,

3/01/2024

15,000

16,308

3.25%,

11/10/2024

25,000

27,161

3.00%,

4/06/2027

50,000

54,035

4.25%,

11/23/2041

70,000

80,999

Exxon

Mobil

Corp.

2.73%,

3/01/2023

25,000

26,008

2.28%,

8/16/2026

40,000

42,030

2.61%,

10/15/2030

25,000

25,597

4.23%,

3/19/2040

25,000

28,642

3.10%,

8/16/2049

10,000

9,632

4.33%,

3/19/2050

10,000

11,679

3.45%,

4/15/2051

25,000

25,543

Halliburton

Co.,

3.50%,

8/01/2023

15,000

15,897

Hess

Corp.

3.50%,

7/15/2024

(a)

10,000

10,617

6.00%,

1/15/2040

25,000

30,584

5.60%,

2/15/2041

30,000

35,242

HollyFrontier

Corp.

2.63%,

10/01/2023

25,000

25,904

4.50%,

10/01/2030

25,000

25,984

Kinder

Morgan

Energy

Partners

LP,

5.00%,

8/15/2042

25,000

28,666

Kinder

Morgan,

Inc.

4.30%,

3/01/2028

25,000

28,148

3.25%,

8/01/2050

10,000

9,075

3.60%,

2/15/2051

20,000

19,132

Marathon

Petroleum

Corp.

6.50%,

3/01/2041

10,000

13,303

4.50%,

4/01/2048

10,000

10,759

59

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Energy

–

2.5%

(continued)

MPLX

LP

4.88%,

6/01/2025

60,000

67,726

1.75%,

3/01/2026

15,000

15,109

4.90%,

4/15/2058

10,000

11,147

NOV,

Inc.,

3.60%,

12/01/2029

10,000

10,155

ONEOK

Partners

LP,

6.20%,

9/15/2043

15,000

18,684

ONEOK,

Inc.,

4.35%,

3/15/2029

25,000

27,578

Phillips

66

3.90%,

3/15/2028

20,000

22,074

2.15%,

12/15/2030

5,000

4,760

Phillips

66

Partners

LP,

2.45%,

12/15/2024

50,000

52,084

Sabine

Pass

Liquefaction

LLC,

5.00%,

3/15/2027

15,000

17,241

Schlumberger

Investment

SA,

2.65%,

6/26/2030

45,000

45,826

Shell

International

Finance

BV

4.38%,

5/11/2045

10,000

11,847

3.75%,

9/12/2046

35,000

37,961

3.13%,

11/07/2049

10,000

9,776

Spectra

Energy

Partners

LP,

4.50%,

3/15/2045

20,000

22,398

Texas

Eastern

Transmission

LP,

7.00%,

7/15/2032

25,000

34,079

Total

Capital

International

SA

2.43%,

1/10/2025

10,000

10,542

3.46%,

2/19/2029

10,000

10,951

TransCanada

PipeLines

Ltd.,

4.88%,

1/15/2026

25,000

28,823

Transcontinental

Gas

Pipe

Line

Co.

LLC

3.25%,

5/15/2030

15,000

15,855

4.45%,

8/01/2042

35,000

39,122

Valero

Energy

Corp.

3.40%,

9/15/2026

40,000

42,904

4.00%,

4/01/2029

20,000

21,828

Williams

Cos.,

Inc.

(The)

6.30%,

4/15/2040

20,000

26,144

5.75%,

6/24/2044

15,000

18,636

2,104,942

Financial

–

8.2%

Air

Lease

Corp.

0.70%,

2/15/2024

20,000

19,842

3.00%,

2/01/2030

25,000

24,953

Aircastle

Ltd.,

5.00%,

4/01/2023

15,000

16,068

Alexandria

Real

Estate

Equities,

Inc.,

3.00%,

5/18/2051

20,000

18,752

Alleghany

Corp.,

3.63%,

5/15/2030

50,000

54,432

Ally

Financial,

Inc.

3.88%,

5/21/2024

25,000

27,107

8.00%,

11/01/2031

60,000

82,364

American

Express

Co.,

3.40%,

2/22/2024

50,000

53,897

American

Financial

Group,

Inc.,

4.50%,

6/15/2047

25,000

28,526

American

International

Group,

Inc.

4.50%,

7/16/2044

20,000

23,120

4.38%,

1/15/2055

25,000

28,494

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Financial

–

8.2%

(continued)

American

Tower

Corp.

3.50%,

1/31/2023

25,000

26,321

1.60%,

4/15/2026

15,000

15,085

2.10%,

6/15/2030

25,000

24,072

1.88%,

10/15/2030

(a)

25,000

23,649

2.70%,

4/15/2031

25,000

25,277

3.70%,

10/15/2049

10,000

10,325

3.10%,

6/15/2050

10,000

9,325

Ameriprise

Financial,

Inc.

3.70%,

10/15/2024

25,000

27,456

3.00%,

4/02/2025

10,000

10,727

AON

Corp.,

2.80%,

5/15/2030

25,000

25,795

Ares

Capital

Corp.,

3.88%,

1/15/2026

10,000

10,669

AvalonBay

Communities,

Inc.,

2.45%,

1/15/2031

20,000

20,101

Axis

Specialty

Finance

LLC,

3.90%,

7/15/2029

15,000

16,272

Bain

Capital

Specialty

Finance,

Inc.,

2.95%,

3/10/2026

15,000

15,103

Bancolombia

SA,

3.00%,

1/29/2025

20,000

20,546

Bancorpsouth

Bank,

4.13%,

11/20/2029

(a)

50,000

51,635

Bank

of

America

Corp.

3.30%,

1/11/2023

29,000

30,468

4.13%,

1/22/2024

25,000

27,388

3.55%,

3/05/2024

25,000

26,334

3.86%,

7/23/2024

25,000

26,718

4.00%,

1/22/2025

20,000

22,014

3.37%,

1/23/2026

50,000

54,003

2.02%,

2/13/2026

10,000

10,320

3.50%,

4/19/2026

45,000

49,665

1.32%,

6/19/2026

10,000

10,025

1.20%,

10/24/2026

10,000

9,930

3.56%,

4/23/2027

20,000

21,932

Series

L,

4.18%,

11/25/2027

20,000

22,374

3.71%,

4/24/2028

45,000

49,579

3.97%,

2/07/2030

50,000

55,794

2.59%,

4/29/2031

50,000

50,387

1.90%,

7/23/2031

5,000

4,746

1.92%,

10/24/2031

25,000

23,743

2.69%,

4/22/2032

15,000

15,178

4.08%,

4/23/2040

15,000

16,963

2.68%,

6/19/2041

10,000

9,427

4.33%,

3/15/2050

30,000

34,829

4.08%,

3/20/2051

35,000

39,234

Bank

of

Montreal

0.45%,

12/08/2023

35,000

35,012

0.95%,

1/22/2027

20,000

19,607

4.34%,

10/05/2028

40,000

43,209

Bank

of

Nova

Scotia

(The)

3.40%,

2/11/2024

50,000

53,827

0.70%,

4/15/2024

20,000

20,035

4.50%,

12/16/2025

20,000

22,758

Berkshire

Hathaway

Finance

Corp.

4.20%,

8/15/2048

10,000

11,793

4.25%,

1/15/2049

25,000

29,807

Berkshire

Hathaway,

Inc.

2.75%,

3/15/2023

25,000

26,031

4.50%,

2/11/2043

25,000

30,907

Boston

Properties

LP,

4.50%,

12/01/2028

75,000

86,192

Brighthouse

Financial,

Inc.,

5.63%,

5/15/2030

20,000

23,868

60

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Financial

–

8.2%

(continued)

Brixmor

Operating

Partnership

LP,

3.85%,

2/01/2025

10,000

10,870

Brookfield

Finance

LLC,

3.45%,

4/15/2050

10,000

9,823

Canadian

Imperial

Bank

of

Commerce,

3.10%,

4/02/2024

50,000

53,367

Capital

One

Financial

Corp.

3.90%,

1/29/2024

25,000

27,122

3.20%,

2/05/2025

20,000

21,556

3.65%,

5/11/2027

40,000

44,268

Charles

Schwab

Corp.

(The),

4.20%,

3/24/2025

25,000

28,054

Chubb

INA

Holdings,

Inc.,

3.35%,

5/03/2026

15,000

16,480

Citigroup,

Inc.

4.05%,

7/30/2022

15,000

15,650

3.50%,

5/15/2023

10,000

10,582

4.04%,

6/01/2024

10,000

10,706

3.11%,

4/08/2026

15,000

16,086

4.45%,

9/29/2027

15,000

17,056

6.63%,

1/15/2028

100,000

127,541

3.98%,

3/20/2030

20,000

22,325

4.41%,

3/31/2031

15,000

17,173

4.75%,

5/18/2046

15,000

18,139

4.65%,

7/23/2048

30,000

37,341

Comerica,

Inc.,

3.70%,

7/31/2023

12,000

12,836

Credit

Suisse

AG/New

York

NY,

1.00%,

5/05/2023

20,000

20,176

Crown

Castle

International

Corp.

2.90%,

4/01/2041

35,000

32,586

5.20%,

2/15/2049

15,000

18,657

4.15%,

7/01/2050

15,000

16,290

Deutsche

Bank

AG

4.10%,

1/13/2026

25,000

27,381

4.10%,

1/13/2026

15,000

16,470

Discover

Financial

Services,

4.10%,

2/09/2027

40,000

44,724

Equinix

,

Inc.

2.63%,

11/18/2024

22,000

23,216

2.90%,

11/18/2026

20,000

21,262

ERP

Operating

LP

3.38%,

6/01/2025

25,000

27,127

3.00%,

7/01/2029

20,000

21,087

Fidelity

National

Financial,

Inc.,

3.40%,

6/15/2030

25,000

26,466

Fifth

Third

Bancorp

3.65%,

1/25/2024

25,000

26,948

2.55%,

5/05/2027

40,000

42,053

Fs

KKR

Capital

Corp.,

4.13%,

2/01/2025

10,000

10,499

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

5.25%,

6/01/2025

20,000

22,570

5.38%,

4/15/2026

15,000

16,978

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Financial

–

8.2%

(continued)

Goldman

Sachs

Group,

Inc.

(The)

4.00%,

3/03/2024

25,000

27,313

3.50%,

4/01/2025

15,000

16,320

4.25%,

10/21/2025

20,000

22,416

1.09%,

12/09/2026

10,000

9,860

5.95%,

1/15/2027

100,000

121,178

3.85%,

1/26/2027

75,000

83,007

1.43%,

3/09/2027

10,000

9,963

4.22%,

5/01/2029

20,000

22,638

2.62%,

4/22/2032

25,000

25,129

6.75%,

10/01/2037

20,000

28,477

3.21%,

4/22/2042

(a)

30,000

30,352

Healthcare

Trust

of

America

Holdings

LP,

3.50%,

8/01/2026

5,000

5,512

Intercontinental

Exchange,

Inc.

3.75%,

12/01/2025

50,000

55,471

3.10%,

9/15/2027

15,000

16,325

2.65%,

9/15/2040

30,000

27,951

4.25%,

9/21/2048

10,000

11,318

International

Lease

Finance

Corp.,

5.88%,

8/15/2022

50,000

53,327

Jefferies

Financial

Group,

Inc.,

5.50%,

10/18/2023

25,000

27,004

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

25,000

26,277

3.63%,

5/13/2024

20,000

21,827

0.65%,

9/16/2024

50,000

50,076

0.56%,

2/16/2025

20,000

19,886

2.08%,

4/22/2026

15,000

15,509

3.20%,

6/15/2026

45,000

48,908

2.74%,

10/15/2030

35,000

35,916

4.49%,

3/24/2031

30,000

34,775

5.50%,

10/15/2040

75,000

98,988

3.11%,

4/22/2041

35,000

34,912

2.53%,

11/19/2041

50,000

45,615

3.11%,

4/22/2051

50,000

48,608

3.33%,

4/22/2052

40,000

40,123

KeyCorp,

2.25%,

4/06/2027

40,000

41,544

Kimco

Realty

Corp.,

3.30%,

2/01/2025

10,000

10,766

Kite

Realty

Group

LP,

4.00%,

10/01/2026

15,000

16,129

Korea

Development

Bank

(The)

2.75%,

3/19/2023

150,000

156,342

2.13%,

10/01/2024

15,000

15,770

Kreditanstalt

Fuer

Wiederaufbau

0.25%,

10/19/2023

25,000

24,968

2.63%,

2/28/2024

50,000

53,149

0.25%,

3/08/2024

100,000

99,646

0.38%,

7/18/2025

5,000

4,929

0.75%,

9/30/2030

50,000

45,984

Landwirtschaftliche

Rentenbank

,

2.38%,

6/10/2025

40,000

42,679

Lifestorage

LP,

3.50%,

7/01/2026

40,000

43,574

Lincoln

National

Corp.,

3.05%,

1/15/2030

25,000

26,188

Marsh

&

McLennan

Cos.,

Inc.

2.25%,

11/15/2030

50,000

49,713

4.75%,

3/15/2039

25,000

31,327

Mastercard

,

Inc.

3.30%,

3/26/2027

15,000

16,564

3.85%,

3/26/2050

10,000

11,473

61

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Financial

–

8.2%

(continued)

MetLife,

Inc.,

4.05%,

3/01/2045

15,000

17,357

Mitsubishi

UFJ

Financial

Group,

Inc.,

3.96%,

3/02/2028

100,000

112,118

Morgan

Stanley

3.75%,

2/25/2023

25,000

26,493

4.10%,

5/22/2023

15,000

16,044

4.00%,

7/23/2025

25,000

27,882

3.13%,

7/27/2026

50,000

54,202

0.99%,

12/10/2026

20,000

19,626

3.95%,

4/23/2027

40,000

44,711

3.59%,

7/22/2028

45,000

49,529

4.43%,

1/23/2030

25,000

28,833

3.62%,

4/01/2031

45,000

49,290

4.38%,

1/22/2047

25,000

30,086

NASDAQ,

Inc.,

2.50%,

12/21/2040

20,000

18,045

Northern

Trust

Corp.,

3.15%,

5/03/2029

25,000

27,056

Office

Properties

Income

Trust,

4.50%,

2/01/2025

10,000

10,728

OMEGA

Healthcare

Investors,

Inc.

4.50%,

4/01/2027

15,000

16,622

3.25%,

4/15/2033

(a)

50,000

48,938

Owl

Rock

Capital

Corp.,

3.75%,

7/22/2025

10,000

10,608

PNC

Financial

Services

Group,

Inc.

(The)

2.20%,

11/01/2024

35,000

36,973

2.60%,

7/23/2026

30,000

31,915

Progressive

Corp.

(The),

4.00%,

3/01/2029

10,000

11,431

ProLogis

LP,

3.25%,

10/01/2026

49,000

53,799

Prudential

Financial,

Inc.

3.50%,

5/15/2024

12,000

13,078

5.88%,

9/15/2042

15,000

15,878

5.38%,

5/15/2045

50,000

55,066

3.94%,

12/07/2049

10,000

11,185

4.35%,

2/25/2050

15,000

17,812

Raymond

James

Financial,

Inc.,

4.65%,

4/01/2030

10,000

11,841

Retail

Properties

of

America,

Inc.,

4.75%,

9/15/2030

10,000

10,819

Royal

Bank

of

Canada,

0.43%,

1/19/2024

38,000

37,892

Santander

UK

Group

Holdings

PLC

1.09%,

3/15/2025

20,000

20,045

2.90%,

3/15/2032

25,000

25,177

Simon

Property

Group

LP,

4.75%,

3/15/2042

20,000

23,894

Spirit

Realty

LP

4.00%,

7/15/2029

15,000

16,433

3.20%,

2/15/2031

10,000

10,295

State

Street

Corp.

3.70%,

11/20/2023

40,000

43,399

3.15%,

3/30/2031

40,000

42,969

Sumitomo

Mitsui

Financial

Group,

Inc.

2.63%,

7/14/2026

45,000

47,475

3.45%,

1/11/2027

40,000

43,892

2.14%,

9/23/2030

45,000

42,632

Synchrony

Financial

4.25%,

8/15/2024

10,000

10,921

3.70%,

8/04/2026

15,000

16,295

5.15%,

3/19/2029

50,000

58,094

Toronto-Dominion

Bank

(The),

3.25%,

3/11/2024

25,000

26,901

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Financial

–

8.2%

(continued)

Travelers

Property

Casualty

Corp.,

6.38%,

3/15/2033

15,000

21,085

Truist

Bank,

3.00%,

2/02/2023

50,000

52,238

Truist

Financial

Corp.

3.75%,

12/06/2023

50,000

54,080

2.50%,

8/01/2024

10,000

10,562

3.88%,

3/19/2029

10,000

11,175

UDR,

Inc.,

2.95%,

9/01/2026

40,000

42,776

Unum

Group,

4.50%,

12/15/2049

10,000

10,250

US

Bancorp

2.40%,

7/30/2024

25,000

26,440

3.60%,

9/11/2024

10,000

10,961

1.45%,

5/12/2025

35,000

35,738

Series

V,

2.38%,

7/22/2026

45,000

47,509

Ventas

Realty

LP

3.85%,

4/01/2027

40,000

44,492

3.00%,

1/15/2030

15,000

15,528

4.88%,

4/15/2049

10,000

11,689

Visa,

Inc.

3.15%,

12/14/2025

25,000

27,359

1.90%,

4/15/2027

25,000

25,842

2.70%,

4/15/2040

25,000

24,835

2.00%,

8/15/2050

55,000

45,738

Wachovia

Corp.,

5.50%,

8/01/2035

35,000

44,118

Wells

Fargo

&

Co.

2.63%,

7/22/2022

24,000

24,673

Series

M,

3.45%,

2/13/2023

20,000

21,087

4.13%,

8/15/2023

10,000

10,804

3.75%,

1/24/2024

41,000

44,368

3.55%,

9/29/2025

25,000

27,500

2.19%,

4/30/2026

15,000

15,554

3.00%,

10/23/2026

10,000

10,783

3.20%,

6/17/2027

45,000

48,546

4.15%,

1/24/2029

20,000

22,734

Series

B,

7.95%,

11/15/2029

15,000

20,465

3.07%,

4/30/2041

30,000

29,681

4.75%,

12/07/2046

20,000

23,831

Welltower

,

Inc.,

3.63%,

3/15/2024

10,000

10,802

Western

Union

Co.

(The),

2.85%,

1/10/2025

15,000

15,860

Westpac

Banking

Corp.

3.30%,

2/26/2024

40,000

43,145

2.67%,

11/15/2035

45,000

43,239

2.96%,

11/16/2040

41,000

38,664

Weyerhaeuser

Co.,

4.00%,

4/15/2030

15,000

16,807

Willis

North

America,

Inc.,

5.05%,

9/15/2048

10,000

12,711

Wp

Carey,

Inc.,

4.25%,

10/01/2026

35,000

39,413

6,888,562

Industrial

–

2.4%

3M

Co.,

2.88%,

10/15/2027

75,000

81,069

Amphenol

Corp.,

2.80%,

2/15/2030

20,000

20,704

62

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Industrial

–

2.4%

(continued)

Boeing

Co.

(The)

4.88%,

5/01/2025

10,000

11,226

2.20%,

2/04/2026

25,000

25,030

2.95%,

2/01/2030

10,000

10,028

5.15%,

5/01/2030

10,000

11,639

6.13%,

2/15/2033

30,000

37,428

3.60%,

5/01/2034

25,000

25,393

3.25%,

2/01/2035

45,000

44,275

6.63%,

2/15/2038

25,000

32,611

5.81%,

5/01/2050

10,000

12,832

3.83%,

3/01/2059

45,000

42,773

5.93%,

5/01/2060

25,000

32,639

Burlington

Northern

Santa

Fe

LLC

3.85%,

9/01/2023

50,000

53,687

7.00%,

12/15/2025

20,000

25,109

4.90%,

4/01/2044

15,000

19,100

Carrier

Global

Corp.,

3.38%,

4/05/2040

20,000

20,178

Caterpillar

Financial

Services

Corp.

0.95%,

5/13/2022

50,000

50,358

0.25%,

3/01/2023

20,000

19,995

3.30%,

6/09/2024

10,000

10,835

1.45%,

5/15/2025

(a)

20,000

20,447

CSX

Corp.

3.35%,

11/01/2025

25,000

27,345

4.75%,

11/15/2048

13,000

15,968

3.80%,

4/15/2050

15,000

16,208

2.50%,

5/15/2051

(a)

10,000

8,630

Deere

&

Co.

2.75%,

4/15/2025

10,000

10,729

3.90%,

6/09/2042

25,000

29,169

Emerson

Electric

Co.,

1.95%,

10/15/2030

25,000

24,686

FedEx

Corp.

4.25%,

5/15/2030

10,000

11,446

4.75%,

11/15/2045

15,000

17,988

4.40%,

1/15/2047

10,000

11,440

FLIR

Systems,

Inc.,

2.50%,

8/01/2030

25,000

24,844

GATX

Corp.,

4.70%,

4/01/2029

30,000

34,775

General

Dynamics

Corp.

3.50%,

4/01/2027

10,000

11,138

4.25%,

4/01/2040

10,000

11,940

General

Electric

Co.

3.38%,

3/11/2024

25,000

26,870

3.45%,

5/01/2027

(a)

10,000

10,927

Honeywell

International,

Inc.,

3.81%,

11/21/2047

20,000

22,720

Illinois

Tool

Works,

Inc.,

2.65%,

11/15/2026

35,000

37,719

Jabil,

Inc.,

3.95%,

1/12/2028

10,000

11,161

John

Deere

Capital

Corp.

1.95%,

6/13/2022

50,000

50,935

3.45%,

6/07/2023

100,000

106,399

3.45%,

1/10/2024

10,000

10,804

2.45%,

1/09/2030

20,000

20,650

Keysight

Technologies,

Inc.,

3.00%,

10/30/2029

10,000

10,435

L3harris

Technologies,

Inc.,

3.83%,

4/27/2025

50,000

55,022

Lockheed

Martin

Corp.

3.10%,

1/15/2023

10,000

10,426

3.55%,

1/15/2026

25,000

27,750

3.80%,

3/01/2045

40,000

44,659

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Industrial

–

2.4%

(continued)

Northrop

Grumman

Corp.

5.05%,

11/15/2040

20,000

25,215

4.75%,

6/01/2043

35,000

43,258

Otis

Worldwide

Corp.,

2.29%,

4/05/2027

40,000

41,410

Parker-Hannifin

Corp.

2.70%,

6/14/2024

25,000

26,460

3.25%,

6/14/2029

25,000

26,926

Raytheon

Technologies

Corp.

3.70%,

12/15/2023

55,000

59,078

3.20%,

3/15/2024

5,000

5,336

7.20%,

8/15/2027

25,000

32,828

4.63%,

11/16/2048

25,000

30,593

3.13%,

7/01/2050

25,000

24,332

Republic

Services,

Inc.

0.88%,

11/15/2025

20,000

19,773

1.75%,

2/15/2032

20,000

18,551

Ryder

System,

Inc.

2.88%,

6/01/2022

15,000

15,369

2.50%,

9/01/2022

15,000

15,379

Snap-On,

Inc.,

3.10%,

5/01/2050

25,000

25,352

Textron,

Inc.,

4.30%,

3/01/2024

25,000

27,193

Union

Pacific

Corp.

4.50%,

9/10/2048

10,000

11,872

4.10%,

9/15/2067

15,000

16,505

3.80%,

4/06/2071

(b)

30,000

31,137

United

Parcel

Service,

Inc.

3.05%,

11/15/2027

25,000

27,510

5.30%,

4/01/2050

20,000

27,782

Waste

Management,

Inc.

2.40%,

5/15/2023

10,000

10,376

0.75%,

11/15/2025

20,000

19,775

4.15%,

7/15/2049

15,000

17,916

2.50%,

11/15/2050

20,000

17,599

Westinghouse

Air

Brake

Technologies

Corp.,

4.40%,

3/15/2024

50,000

54,527

1,982,191

Technology

–

2.1%

Activision

Blizzard,

Inc.,

3.40%,

9/15/2026

(a)

10,000

11,030

Adobe,

Inc.,

2.15%,

2/01/2027

40,000

41,930

Amdocs

Ltd.,

2.54%,

6/15/2030

50,000

49,092

Analog

Devices,

Inc.,

2.95%,

4/01/2025

(a)

10,000

10,706

Apple,

Inc.

1.80%,

9/11/2024

10,000

10,415

1.13%,

5/11/2025

15,000

15,174

0.55%,

8/20/2025

(a)

10,000

9,889

0.70%,

2/08/2026

10,000

9,882

3.25%,

2/23/2026

50,000

54,939

1.25%,

8/20/2030

10,000

9,392

1.65%,

2/08/2031

10,000

9,628

2.38%,

2/08/2041

10,000

9,408

3.85%,

5/04/2043

25,000

28,760

4.65%,

2/23/2046

25,000

31,929

2.55%,

8/20/2060

50,000

44,030

2.80%,

2/08/2061

10,000

9,191

Applied

Materials,

Inc.

1.75%,

6/01/2030

30,000

29,143

5.10%,

10/01/2035

30,000

38,500

Autodesk,

Inc.,

2.85%,

1/15/2030

10,000

10,432

63

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Technology

–

2.1%

(continued)

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.,

3.63%,

1/15/2024

10,000

10,711

Broadcom,

Inc.

4.70%,

4/15/2025

10,000

11,293

2.45%,

2/15/2031

(b)

50,000

47,778

3.50%,

2/15/2041

(b)

5,000

4,825

3.75%,

2/15/2051

(a)(b)

5,000

4,841

Broadridge

Financial

Solutions,

Inc.,

3.40%,

6/27/2026

10,000

10,908

Citrix

Systems,

Inc.,

1.25%,

3/01/2026

20,000

19,822

Dell

International

LLC

/

EMC

Corp.

4.00%,

7/15/2024

(b)

10,000

10,887

4.90%,

10/01/2026

(b)

50,000

57,474

Electronic

Arts,

Inc.,

1.85%,

2/15/2031

25,000

23,782

Fidelity

National

Information

Services,

Inc.,

0.38%,

3/01/2023

10,000

9,984

Fiserv,

Inc.,

2.75%,

7/01/2024

25,000

26,530

Hewlett

Packard

Enterprise

Co.

1.45%,

4/01/2024

10,000

10,200

6.35%,

10/15/2045

20,000

26,220

Hp

,

Inc.,

6.00%,

9/15/2041

25,000

32,591

Intel

Corp.

3.15%,

5/11/2027

30,000

32,842

2.45%,

11/15/2029

30,000

30,909

4.10%,

5/11/2047

40,000

45,957

3.10%,

2/15/2060

10,000

9,616

International

Business

Machines

Corp.

3.30%,

1/27/2027

100,000

109,856

4.00%,

6/20/2042

25,000

28,481

Intuit,

Inc.,

1.65%,

7/15/2030

10,000

9,615

Maxim

Integrated

Products,

Inc.,

3.38%,

3/15/2023

60,000

62,753

Micron

Technology,

Inc.,

2.50%,

4/24/2023

15,000

15,553

Microsoft

Corp.

3.63%,

12/15/2023

50,000

53,991

2.88%,

2/06/2024

30,000

31,948

2.40%,

8/08/2026

25,000

26,609

4.50%,

10/01/2040

25,000

31,950

4.25%,

2/06/2047

40,000

49,545

3.04%,

3/17/2062

31,000

31,116

NetApp,

Inc.,

1.88%,

6/22/2025

10,000

10,269

NVIDIA

Corp.,

3.50%,

4/01/2040

20,000

21,872

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

3.88%,

6/18/2026

(b)

10,000

11,071

3.15%,

5/01/2027

(b)

10,000

10,714

Oracle

Corp.

2.50%,

5/15/2022

25,000

25,476

1.65%,

3/25/2026

50,000

50,511

2.65%,

7/15/2026

50,000

52,671

2.95%,

4/01/2030

22,000

22,736

2.88%,

3/25/2031

10,000

10,186

4.30%,

7/08/2034

40,000

45,308

4.00%,

11/15/2047

30,000

31,382

3.60%,

4/01/2050

10,000

9,856

4.10%,

3/25/2061

10,000

10,464

QUALCOMM,

Inc.,

2.60%,

1/30/2023

10,000

10,383

Roper

Technologies,

Inc.,

1.00%,

9/15/2025

20,000

19,837

Servicenow

,

Inc.,

1.40%,

9/01/2030

50,000

45,668

Texas

Instruments,

Inc.,

2.25%,

9/04/2029

13,000

13,230

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Technology

–

2.1%

(continued)

VMware,

Inc.,

2.95%,

8/21/2022

20,000

20,582

1,734,273

Utilities

–

2.0%

Ameren

Illinois

Co.,

1.55%,

11/15/2030

10,000

9,460

American

Water

Capital

Corp.,

3.75%,

9/01/2028

40,000

44,678

Arizona

Public

Service

Co.,

3.35%,

5/15/2050

25,000

25,638

Atmos

Energy

Corp.,

1.50%,

1/15/2031

45,000

41,818

Berkshire

Hathaway

Energy

Co.,

4.05%,

4/15/2025

10,000

11,157

Black

Hills

Corp.,

3.88%,

10/15/2049

10,000

10,338

Commonwealth

Edison

Co.

4.00%,

3/01/2048

20,000

22,914

4.00%,

3/01/2049

20,000

22,946

Consolidated

Edison

Co.

of

New

York,

Inc.

4.63%,

12/01/2054

30,000

36,049

Series

C,

3.00%,

12/01/2060

20,000

18,183

Dominion

Energy,

Inc.

Series

A,

1.45%,

4/15/2026

25,000

25,030

Series

B,

3.30%,

4/15/2041

25,000

25,325

Duke

Energy

Carolinas

LLC,

4.25%,

12/15/2041

30,000

35,396

Duke

Energy

Corp.,

3.75%,

9/01/2046

20,000

20,665

Duke

Energy

Indiana

LLC,

2.75%,

4/01/2050

45,000

41,611

Edison

International,

4.13%,

3/15/2028

10,000

10,806

El

Paso

Electric

Co.,

6.00%,

5/15/2035

33,000

43,561

Emera

US

Finance

LP,

3.55%,

6/15/2026

10,000

10,932

Enel

Generacion

Chile

SA,

4.25%,

4/15/2024

25,000

26,886

Entergy

Louisiana

LLC,

2.40%,

10/01/2026

35,000

36,671

Essential

Utilities,

Inc.,

3.35%,

4/15/2050

15,000

14,842

Eversource

Energy,

Series

R,

1.65%,

8/15/2030

45,000

42,287

Exelon

Generation

Co.

LLC,

5.75%,

10/01/2041

30,000

33,609

Florida

Power

&

Light

Co.,

2.85%,

4/01/2025

25,000

26,795

Hydro-Quebec,

Series

HH,

8.50%,

12/01/2029

25,000

37,179

Interstate

Power

And

Light

Co.,

2.30%,

6/01/2030

15,000

14,949

ITC

Holdings

Corp.,

3.35%,

11/15/2027

50,000

54,467

Louisville

Gas

And

Electric

Co.,

4.25%,

4/01/2049

25,000

29,331

MidAmerican

Energy

Co.,

4.25%,

7/15/2049

30,000

36,167

National

Rural

Utilities

Cooperative

Finance

Corp.

1.00%,

6/15/2026

45,000

44,128

4.30%,

3/15/2049

15,000

17,941

Nextera

Energy

Capital

Holdings,

Inc.,

2.25%,

6/01/2030

30,000

29,699

NiSource,

Inc.

0.95%,

8/15/2025

15,000

14,840

5.25%,

2/15/2043

35,000

44,195

Oncor

Electric

Delivery

Co.

LLC,

3.10%,

9/15/2049

15,000

15,060

One

Gas,

Inc.,

0.85%,

3/11/2023

15,000

15,011

Pacific

Gas

and

Electric

Co.,

3.15%,

1/01/2026

10,000

10,419

Pacific

Gas

And

Electric

Co.

2.10%,

8/01/2027

10,000

9,761

4.55%,

7/01/2030

5,000

5,375

2.50%,

2/01/2031

50,000

47,054

4.50%,

7/01/2040

5,000

5,034

3.30%,

8/01/2040

30,000

26,806

4.20%,

6/01/2041

25,000

24,819

4.95%,

7/01/2050

5,000

5,115

64

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

27.4%

(continued)

Utilities

–

2.0%

(continued)

Pacificorp

,

4.10%,

2/01/2042

35,000

40,163

PECO

Energy

Co.,

3.00%,

9/15/2049

40,000

39,760

Piedmont

Natural

Gas

Co.,

Inc.,

3.35%,

6/01/2050

15,000

14,911

Public

Service

Co.

of

Colorado

Series

17,

6.25%,

9/01/2037

10,000

14,344

Series

34,

3.20%,

3/01/2050

20,000

20,491

Public

Service

Electric

And

Gas

Co.,

3.95%,

5/01/2042

35,000

40,238

Public

Service

Enterprise

Group,

Inc.

0.80%,

8/15/2025

10,000

9,834

1.60%,

8/15/2030

10,000

9,307

San

Diego

Gas

&

Electric

Co.,

Series

TTT,

4.10%,

6/15/2049

10,000

11,624

Sempra

Energy

3.55%,

6/15/2024

15,000

16,161

3.80%,

2/01/2038

15,000

16,471

Southern

California

Edison

Co.

2.25%,

6/01/2030

25,000

24,401

4.50%,

9/01/2040

25,000

28,561

Southern

California

Gas

Co.

3.75%,

9/15/2042

10,000

10,896

Series

VV,

4.30%,

1/15/2049

15,000

18,086

Series

WW,

3.95%,

2/15/2050

15,000

17,059

Southern

Co.

(The),

Series

A,

3.70%,

4/30/2030

10,000

10,921

Southern

Power

Co.,

5.25%,

7/15/2043

20,000

23,333

Southwest

Gas

Corp.,

2.20%,

6/15/2030

15,000

14,778

Southwestern

Electric

Power

Co.,

Series

J,

3.90%,

4/01/2045

40,000

42,696

Virginia

Electric

and

Power

Co.

Series

A,

3.80%,

4/01/2028

50,000

55,884

Series

B,

3.80%,

9/15/2047

20,000

22,169

2.45%,

12/15/2050

10,000

8,774

Xcel

Energy,

Inc.

0.50%,

10/15/2023

30,000

30,055

2.60%,

12/01/2029

10,000

10,246

1,676,110

Total

Corporate

Bonds

(cost

$22,952,966)

22,862,903

Foreign

Governmental

–

2.2%

Chile

Government

International

Bond,

2.45%,

1/31/2031

20,000

20,367

Colombia

Government

International

Bond

8.13%,

5/21/2024

20,000

23,847

3.88%,

4/25/2027

20,000

21,331

Hungary

Government

International

Bond

5.38%,

2/21/2023

20,000

21,790

5.75%,

11/22/2023

70,000

79,132

Indonesia

Government

International

Bond

2.95%,

1/11/2023

20,000

20,734

3.40%,

9/18/2029

20,000

21,413

1.85%,

3/12/2031

(a)

20,000

19,184

3.05%,

3/12/2051

(a)

20,000

19,866

Korea

International

Bond,

4.13%,

6/10/2044

200,000

246,251

Mexico

Government

International

Bond

4.75%,

4/27/2032

60,000

67,491

6.05%,

1/11/2040

40,000

48,813

5.75%,

10/12/2110

20,000

22,741

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Foreign

Governmental

–

2.2%

(continued)

Panama

Government

International

Bond

9.38%,

4/01/2029

100,000

147,211

6.70%,

1/26/2036

40,000

53,720

Peruvian

Government

International

Bond

2.39%,

1/23/2026

20,000

20,573

2.84%,

6/20/2030

20,000

20,246

8.75%,

11/21/2033

20,000

30,948

Philippine

Government

International

Bond,

9.50%,

2/02/2030

25,000

39,271

Province

of

Alberta

Canada

2.20%,

7/26/2022

25,000

25,598

3.30%,

3/15/2028

25,000

27,717

Province

of

British

Columbia

Canada

2.00%,

10/23/2022

40,000

41,051

Series

10,

1.75%,

9/27/2024

20,000

20,807

Province

of

Manitoba

Canada,

2.13%,

6/22/2026

25,000

26,268

Province

of

Ontario

Canada

1.75%,

1/24/2023

100,000

102,529

3.20%,

5/16/2024

30,000

32,419

0.63%,

1/21/2026

10,000

9,831

1.05%,

4/14/2026

15,000

15,007

2.50%,

4/27/2026

25,000

26,764

1.05%,

5/21/2027

55,000

54,188

1.60%,

2/25/2031

30,000

29,060

Province

of

Quebec

Canada

Series

QX,

1.50%,

2/11/2025

77,000

79,312

0.60%,

7/23/2025

50,000

49,524

2.50%,

4/20/2026

20,000

21,447

2.75%,

4/12/2027

50,000

54,312

1.90%,

4/21/2031

15,000

14,993

Republic

of

Italy

Government

International

Bond

6.88%,

9/27/2023

40,000

45,699

4.00%,

10/17/2049

20,000

20,573

Republic

of

Poland

Government

International

Bond,

3.00%,

3/17/2023

100,000

104,842

Svensk

Exportkredit

AB,

5/11/2037

(c)

30,000

18,563

Uruguay

Government

International

Bond

8.00%,

11/18/2022

20,000

21,635

4.98%,

4/20/2055

20,000

24,698

Total

Foreign

Governmental

(cost

$1,815,839)

1,811,766

Municipal

Securities

–

0.2%

New

Jersey

Turnpike

Authority,

RB,

7.10%,

1/01/2041

20,000

31,370

North

Texas

Tollway

Authority,

RB,

6.72%,

1/01/2049

15,000

24,024

Ohio

State

University

(The),

RB,

4.80%,

6/01/2111

10,000

13,043

State

of

California,

GO,

7.60%,

11/01/2040

15,000

25,392

State

of

Illinois

Sales

Tax

Securitization

Corp.,

RB,

3.59%,

1/01/2043

30,000

31,370

State

of

Illinois,

GO,

5.10%,

6/01/2033

20,000

22,713

Total

Municipal

Securities

(cost

$148,275)

147,912

Supranational

Bank

–

1.6%

Asian

Development

Bank

2.75%,

3/17/2023

50,000

52,355

2.75%,

1/19/2028

50,000

54,520

0.75%,

10/08/2030

50,000

45,843

65

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Supranational

Bank

–

1.6%

(continued)

Asian

Infrastructure

Investment

Bank

(The),

0.25%,

9/29/2023

50,000

49,924

European

Bank

For

Reconstruction

&

Development,

0.25%,

7/10/2023

70,000

69,992

European

Investment

Bank

1.88%,

2/10/2025

50,000

52,351

0.38%,

12/15/2025

5,000

4,898

0.38%,

3/26/2026

10,000

9,759

2.38%,

5/24/2027

150,000

160,962

Export

Development

Canada,

1.38%,

2/24/2023

50,000

51,037

Inter-American

Development

Bank

2.50%,

1/18/2023

75,000

77,924

2.00%,

6/02/2026

(a)

15,000

15,769

0.63%,

9/16/2027

50,000

47,991

1.13%,

1/13/2031

10,000

9,472

3.88%,

10/28/2041

150,000

185,624

International

Bank

For

Reconstruction

&

Development

2.50%,

11/25/2024

20,000

21,373

0.75%,

3/11/2025

50,000

50,210

0.38%,

7/28/2025

150,000

147,675

0.50%,

10/28/2025

75,000

74,038

0.75%,

8/26/2030

75,000

69,042

1.25%,

2/10/2031

10,000

9,582

Japan

Bank

For

International

Cooperation

2.38%,

11/16/2022

20,000

20,636

0.63%,

7/15/2025

50,000

49,440

2.25%,

11/04/2026

50,000

52,793

Total

Supranational

Bank

(cost

$1,394,828)

1,383,210

U.S.

Government

Agencies

–

30.4%

Federal

Farm

Credit

Banks

Funding

Corp.

0.13%,

3/23/2023

100,000

99,903

0.25%,

2/26/2024

50,000

49,883

Federal

Home

Loan

Banks

2.00%,

9/09/2022

20,000

20,504

2.50%,

2/13/2024

225,000

239,111

3.25%,

11/16/2028

15,000

16,997

Federal

Home

Loan

Mortgage

Corporation

0.25%,

6/08/2022

(d)

120,000

120,201

0.38%,

4/20/2023

(d)

80,000

80,308

0.25%,

8/24/2023

(d)

54,000

54,020

0.25%,

9/08/2023

(d)

25,000

25,008

1.50%,

2/12/2025

(d)

30,000

31,057

0.38%,

7/21/2025

(a)(d)

100,000

98,640

2.50%,

9/01/2027

(d)

25,592

26,766

3.00%,

2/01/2031

(d)

44,872

47,468

6.25%,

7/15/2032

(d)

10,000

14,490

3.00%,

1/01/2033

(d)

10,115

10,686

3.50%,

2/01/2033

(d)

128,094

137,988

2.50%,

11/01/2034

(d)

39,857

41,634

3.50%,

3/01/2035

(d)

13,094

14,112

3.00%,

4/01/2035

(d)

63,168

66,719

2.50%,

9/01/2035

(d)

41,594

43,445

1.50%,

11/01/2035

(d)

23,480

23,779

3.00%,

5/01/2037

(d)

37,725

39,768

3.00%,

11/01/2039

(d)

78,041

81,684

3.00%,

3/01/2040

(d)

87,173

91,243

2.50%,

4/01/2040

(d)

12,965

13,496

2.50%,

10/01/2040

(d)

22,836

23,771

2.00%,

11/01/2040

(d)

23,909

24,391

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies–

30.4%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

4.00%,

11/01/2040

(d)

84,949

93,626

1.50%,

1/01/2041

(d)

24,444

24,301

2.00%,

3/01/2041

(d)

24,799

25,310

3.00%,

12/01/2042

(d)

26,554

28,299

3.00%,

1/01/2043

(d)

65,150

69,431

3.50%,

2/01/2043

(d)

87,523

95,229

3.00%,

4/01/2043

(d)

92,291

98,229

3.00%,

5/01/2045

(d)

15,580

16,466

3.50%,

7/01/2045

(d)

18,880

20,271

4.50%,

10/01/2045

(d)

105,411

117,711

4.00%,

11/01/2045

(d)

223,915

244,491

3.50%,

12/01/2045

(d)

13,285

14,263

3.00%,

12/01/2046

(d)

14,222

14,992

3.00%,

1/01/2047

(d)

72,516

76,443

4.00%,

8/01/2047

(d)

83,697

90,203

3.50%,

6/01/2048

(d)

119,406

126,980

4.00%,

10/01/2048

(d)

48,025

51,470

4.00%,

1/01/2049

(d)

92,317

98,941

3.00%,

9/01/2049

(d)

58,788

61,509

3.00%,

10/01/2049

(d)

65,023

68,033

5.00%,

10/01/2049

(d)

141,907

156,915

2.50%,

1/01/2050

(d)

56,487

58,535

4.50%,

2/01/2050

(d)

49,077

53,434

3.00%,

3/01/2050

(d)

52,484

54,913

3.50%,

4/01/2050

(d)

34,055

36,232

2.50%,

6/01/2050

(d)

100,220

103,966

2.00%,

7/01/2050

(d)

20,702

20,923

2.50%,

7/01/2050

(d)

244,787

253,937

2.50%,

8/01/2050

(d)

20,425

21,188

2.50%,

10/01/2050

(d)

167,644

173,910

3.00%,

10/01/2050

(d)

64,606

67,644

2.00%,

5/01/2051

200,000

202,160

Federal

Home

Loan

Mortgage

Corporation

Mutifamilty

Structured

Pass-Through

Ctfs

.

Series

2019-K736,

Class

A2,

2.28%,

7/25/2026

(d)

50,000

52,871

Series

2017-K064,

Class

A2,

3.22%,

3/25/2027

(d)

20,000

22,129

Series

2018-K077,

Class

A2,

3.85%,

5/25/2028

(d)

50,000

57,658

Series

2019-K087,

Class

A2,

3.77%,

12/25/2028

(d)

30,000

34,566

Series

2016-K152,

Class

A1,

2.83%,

5/25/2030

(d)

41,745

45,179

Series

2017-K153,

Class

A3,

3.12%,

10/25/2031

50,000

55,251

Series

2019-1513,

Class

A3,

2.80%,

8/25/2034

(d)

20,000

21,365

Federal

National

Mortgage

Association

2.38%,

1/19/2023

(d)

20,000

20,756

0.25%,

5/22/2023

(d)

50,000

50,063

1.75%,

7/02/2024

(d)

25,000

26,072

1.63%,

1/07/2025

(d)

50,000

51,960

0.63%,

4/22/2025

(d)

30,000

29,991

0.38%,

8/25/2025

(d)

30,000

29,576

1.88%,

9/24/2026

(d)

25,000

26,234

3.00%,

12/01/2026

(d)

20,582

21,710

3.00%,

12/01/2026

(d)

21,711

22,902

3.00%,

6/01/2027

(d)

21,210

22,377

3.00%,

2/01/2028

(d)

32,186

33,957

66

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies–

30.4%

(continued)

Federal

National

Mortgage

Association

(continued)

2.50%,

6/01/2028

(d)

65,081

68,058

3.00%,

9/01/2028

(d)

123,393

130,313

3.50%,

8/01/2030

(d)

39,602

42,341

0.88%,

8/05/2030

(d)

125,000

116,705

2.00%,

10/01/2030

(d)

17,281

17,905

6.63%,

11/15/2030

(d)

75,000

107,427

3.00%,

8/01/2031

(d)

28,041

29,663

2.50%,

10/01/2031

(d)

185,867

194,373

2.00%,

11/01/2031

(d)

45,310

46,958

3.50%,

11/01/2031

(d)

31,336

33,729

2.50%,

1/01/2032

(d)

106,192

111,419

2.50%,

1/01/2032

(d)

22,024

23,084

3.50%,

1/01/2032

(d)

23,778

25,603

3.00%,

2/01/2032

(d)

30,738

32,516

3.50%,

4/01/2032

(d)

34,045

36,675

2.50%,

1/01/2033

(d)

37,782

39,511

3.50%,

5/01/2033

(d)

9,084

9,731

2.50%,

7/01/2033

(d)

42,662

44,761

4.00%,

4/01/2034

(d)

24,767

26,517

3.50%,

9/01/2034

(d)

34,820

37,504

3.00%,

2/01/2035

(d)

15,341

16,156

3.50%,

3/01/2035

(d)

17,313

18,546

2.00%,

7/01/2035

(d)

39,672

40,982

2.50%,

8/01/2035

(d)

22,008

22,988

3.00%,

9/01/2035

(d)

41,554

43,890

2.00%,

10/01/2035

(d)

47,054

48,607

2.00%,

10/01/2035

(d)

23,525

24,302

5.50%,

10/01/2035

(d)

20,582

23,427

1.50%,

11/01/2035

(d)

23,884

24,188

2.00%,

4/01/2036

(d)

50,000

51,679

1.50%,

5/01/2036

(d)

100,000

101,264

1.50%,

5/15/2036

(d)(e)

150,000

151,807

2.00%,

5/15/2036

(d)(e)

475,000

490,604

2.50%,

5/15/2036

(d)(e)

100,000

104,481

1.50%,

6/15/2036

(d)(e)

75,000

75,801

2.00%,

6/15/2036

(d)(e)

50,000

51,578

2.50%,

6/15/2036

(d)(e)

25,000

26,112

3.50%,

1/01/2037

(d)

26,874

28,843

2.50%,

2/01/2037

(d)

25,000

26,105

2.50%,

3/01/2038

(d)

29,676

30,988

4.50%,

6/01/2039

(d)

34,728

38,854

4.00%,

11/01/2039

(d)

32,022

34,520

6.00%,

4/01/2040

(d)

48,266

55,882

2.50%,

5/01/2040

(d)

15,609

16,248

2.00%,

8/01/2040

(d)

48,083

49,052

2.50%,

8/01/2040

(d)

20,817

21,670

4.00%,

10/01/2040

(d)

110,176

121,429

2.00%,

11/01/2040

(d)

23,893

24,374

2.00%,

2/01/2041

(d)

30,587

31,204

4.50%,

2/01/2041

(d)

46,602

52,105

1.50%,

5/01/2041

(d)

50,000

49,688

2.00%,

5/01/2041

(d)

75,000

76,548

5.50%,

7/01/2041

(d)

23,824

27,107

3.50%,

12/01/2041

(d)

33,266

36,187

3.00%,

4/01/2042

(d)

22,532

24,003

3.50%,

4/01/2042

(d)

43,450

47,276

5.00%,

4/01/2042

(d)

64,785

73,579

3.50%,

6/01/2042

(d)

26,064

28,358

4.00%,

7/01/2042

(d)

38,732

42,700

2.50%,

10/01/2042

(d)

84,508

88,298

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies–

30.4%

(continued)

Federal

National

Mortgage

Association

(continued)

3.00%,

4/01/2043

(d)

41,128

43,774

3.00%,

10/01/2044

(d)

192,712

205,112

4.00%,

11/01/2044

(d)

42,168

46,112

3.00%,

4/01/2045

(d)

76,620

81,550

3.50%,

4/01/2045

(d)

22,451

24,105

3.50%,

5/01/2045

(d)

31,964

34,318

3.50%,

8/01/2045

(d)

173,211

185,970

3.50%,

11/01/2045

(d)

48,180

51,729

3.50%,

12/01/2045

(d)

79,598

85,462

3.50%,

1/01/2046

(d)

49,869

53,542

4.00%,

1/01/2046

(d)

110,067

120,182

3.50%,

2/01/2046

(d)

57,936

62,204

3.50%,

2/01/2046

(d)

73,383

78,708

4.50%,

6/01/2046

(d)

50,573

56,552

3.00%,

9/01/2046

(d)

103,970

109,600

3.00%,

11/01/2046

(d)

66,646

70,255

3.00%,

11/01/2046

(d)

22,613

23,837

3.00%,

11/01/2046

(d)

83,023

87,518

3.50%,

12/01/2046

(d)

102,913

110,381

3.50%,

4/01/2047

(d)

25,969

27,692

4.00%,

5/01/2047

(d)

66,864

72,053

4.50%,

5/01/2047

(d)

20,016

22,409

3.50%,

8/01/2047

(d)

132,503

141,293

3.50%,

10/01/2047

(d)

44,962

47,945

3.50%,

12/01/2047

(d)

84,528

90,136

3.50%,

2/01/2048

(d)

70,337

75,004

4.50%,

4/01/2048

(d)

23,479

25,526

4.50%,

8/01/2048

(d)

49,087

53,367

4.50%,

10/01/2048

(d)

101,274

110,103

3.00%,

11/01/2048

(d)

193,813

204,307

3.50%,

4/01/2049

(d)

78,916

83,802

4.00%,

5/01/2049

(d)

109,696

117,567

4.50%,

5/01/2049

(d)

18,323

19,950

4.50%,

5/01/2049

(d)

41,011

44,586

3.50%,

7/01/2049

(d)

107,943

114,626

4.00%,

7/01/2049

(d)

109,159

117,020

5.00%,

7/01/2049

(d)

23,181

25,633

3.50%,

8/01/2049

(d)

182,102

193,376

3.50%,

9/01/2049

(d)

135,558

143,950

4.00%,

9/01/2049

(d)

36,356

38,974

4.50%,

9/01/2049

(d)

33,773

36,717

3.00%,

10/01/2049

(d)

163,564

171,136

2.50%,

11/01/2049

(d)

32,193

33,360

3.00%,

11/01/2049

(d)

154,515

161,668

4.50%,

11/01/2049

(d)

18,633

20,287

3.00%,

12/01/2049

(d)

100,617

105,274

3.50%,

12/01/2049

(d)

267,280

283,827

3.50%,

1/01/2050

(d)

73,020

77,540

4.00%,

1/01/2050

(d)

46,986

50,370

3.00%,

2/01/2050

(d)

79,055

82,715

3.00%,

2/01/2050

(d)

148,595

155,474

3.00%,

3/01/2050

(d)

92,862

97,228

4.50%,

3/01/2050

(d)

150,860

164,012

4.00%,

4/01/2050

(d)

231,423

248,088

3.50%,

5/01/2050

(d)

31,684

33,710

4.00%,

6/01/2050

(d)

52,057

55,806

4.00%,

6/01/2050

(d)

89,980

96,992

2.00%,

7/01/2050

(d)

63,549

64,229

2.50%,

7/01/2050

(d)

114,472

118,751

3.00%,

7/01/2050

(d)

87,580

91,697

67

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies–

30.4%

(continued)

Federal

National

Mortgage

Association

(continued)

3.00%,

7/01/2050

(d)

58,726

61,487

2.50%,

8/01/2050

(d)

115,561

119,880

2.50%,

8/01/2050

(d)

248,013

257,283

2.00%,

9/01/2050

(d)

57,132

57,743

2.00%,

9/01/2050

(d)

47,931

48,444

2.50%,

9/01/2050

(d)

94,771

98,313

2.50%,

9/01/2050

(d)

46,512

48,250

2.00%,

10/01/2050

(d)

96,090

97,119

2.00%,

12/01/2050

(d)

196,230

198,332

2.00%,

2/01/2051

(d)

98,859

99,917

2.00%,

2/01/2051

(d)

272,833

275,755

2.50%,

2/01/2051

(d)

99,415

103,351

2.00%,

4/01/2051

(d)

200,000

202,160

2.00%,

5/01/2051

(d)

200,000

202,160

1.50%,

5/15/2051

(d)(e)

550,000

538,769

2.00%,

5/15/2051

(d)(e)

1,625,000

1,641,153

2.50%,

5/15/2051

(d)(e)

725,000

752,108

3.00%,

5/15/2051

(d)(e)

325,000

340,376

5.50%,

5/15/2051

(d)(e)

100,000

111,957

1.50%,

6/15/2051

(d)(e)

75,000

73,334

2.00%,

6/15/2051

(d)(e)

350,000

352,821

2.50%,

6/15/2051

(d)(e)

100,000

103,497

Federal

National

Mortgage

Association

REMICs

Series

2014-M3,

Class

A2,

3.50%,

1/25/2024

(d)

19,914

21,190

Series

2018-M1,

Class

A2,

3.08%,

12/25/2027

(d)

100,000

109,642

Series

2019-M1,

Class

A2,

3.67%,

9/25/2028

(d)

25,000

28,525

Series

2020-M1,

Class

A1,

2.15%,

10/25/2029

(d)

29,920

31,397

Series

2020-M1,

Class

A2,

2.44%,

10/25/2029

(d)

200,000

211,988

Series

2018-M13,

Class

A2,

3.82%,

9/25/2030

(d)

10,000

11,569

Government

National

Mortgage

Association

3.50%,

11/20/2046

168,104

180,735

3.50%,

5/20/2047

236,258

252,428

4.00%,

8/20/2050

218,882

234,250

4.50%,

8/20/2050

85,271

92,640

2.00%,

1/20/2051

222,637

227,266

2.50%,

3/20/2051

174,327

181,446

2.00%,

5/15/2051

(e)

400,000

407,964

2.50%,

5/15/2051

(e)

550,000

571,643

3.00%,

5/15/2051

(e)

550,000

575,339

2.00%,

6/15/2051

(e)

150,000

152,742

2.50%,

6/15/2051

(e)

50,000

51,864

Government

National

Mortgage

Association

II

3.50%,

10/20/2026

37,514

40,102

4.00%,

10/20/2040

31,097

34,301

5.00%,

10/20/2040

37,222

42,312

4.50%,

1/20/2041

20,660

23,141

4.00%,

11/20/2041

27,627

30,490

3.00%,

8/20/2042

78,307

83,395

3.50%,

2/20/2043

64,767

70,305

2.50%,

3/20/2043

18,752

19,751

3.00%,

4/20/2043

101,243

108,163

3.50%,

7/20/2043

130,610

141,665

4.50%,

1/20/2045

43,658

48,668

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies–

30.4%

(continued)

Government

National

Mortgage

Association

II

(continued)

3.50%,

2/20/2045

57,369

61,975

3.50%,

3/20/2046

45,207

48,604

4.00%,

3/20/2046

58,108

63,486

3.00%,

4/20/2046

27,870

29,478

4.00%,

6/20/2046

80,343

86,872

2.50%,

7/20/2046

46,589

48,625

2.50%,

10/20/2046

15,834

16,526

3.00%,

10/20/2046

70,503

74,570

3.00%,

11/20/2046

71,512

75,636

3.00%,

5/20/2047

129,234

136,400

4.00%,

8/20/2047

50,185

54,117

4.50%,

9/20/2047

69,550

75,729

3.00%,

10/20/2047

20,851

22,007

3.50%,

2/20/2048

46,469

49,649

5.00%,

6/20/2048

19,552

21,514

4.00%,

9/20/2048

29,451

31,609

4.50%,

11/20/2048

51,042

55,336

3.50%,

1/20/2049

115,385

123,283

4.00%,

2/20/2049

48,328

51,868

3.50%,

3/20/2049

52,963

56,520

3.00%,

1/20/2050

13,524

14,161

3.50%,

2/20/2050

67,824

72,105

3.50%,

4/20/2050

32,801

34,871

4.00%,

5/20/2050

34,387

36,801

5.00%,

5/20/2050

31,223

34,355

2.50%,

7/20/2050

41,489

43,110

3.00%,

7/20/2050

82,220

86,045

3.50%,

7/20/2050

61,773

66,007

3.00%,

8/20/2050

23,030

24,102

2.50%,

9/20/2050

48,351

50,240

3.00%,

11/20/2050

48,147

50,387

Tennessee

Valley

Authority

1.88%,

8/15/2022

50,000

51,079

5.25%,

9/15/2039

100,000

139,568

Total

U.S.

Government

Agencies

(cost

$25,485,350)

25,422,743

U.S.

Treasury

Government

Securities

–

36.6%

U.S.

Treasury

Bonds

6.25%,

5/15/2030

(a)

105,000

147,213

5.38%,

2/15/2031

105,000

141,258

4.50%,

2/15/2036

(a)

80,000

107,062

3.50%,

2/15/2039

(a)

100,000

121,687

4.25%,

5/15/2039

10,000

13,333

4.38%,

11/15/2039

200,000

271,375

4.63%,

2/15/2040

35,000

49,011

1.13%,

5/15/2040

195,000

163,160

4.38%,

5/15/2040

60,000

81,759

1.13%,

8/15/2040

200,000

166,750

3.88%,

8/15/2040

50,000

64,156

1.38%,

11/15/2040

300,000

261,469

4.25%,

11/15/2040

34,000

45,730

1.88%,

2/15/2041

(a)

60,000

57,103

4.75%,

2/15/2041

45,000

64,420

4.38%,

5/15/2041

85,000

116,530

3.13%,

11/15/2041

60,000

69,647

3.13%,

2/15/2042

55,000

63,955

3.00%,

5/15/2042

125,000

142,500

2.75%,

8/15/2042

72,000

78,874

2.75%,

11/15/2042

117,000

128,042

68

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.6%

(continued)

U.S.

Treasury

Bonds

(continued)

3.13%,

2/15/2043

50,000

58,039

2.88%,

5/15/2043

100,000

111,609

3.63%,

2/15/2044

50,000

62,687

3.38%,

5/15/2044

50,000

60,391

3.13%,

8/15/2044

40,000

46,469

3.00%,

11/15/2044

60,000

68,297

2.50%,

2/15/2045

55,000

57,423

3.00%,

5/15/2045

75,000

85,406

2.88%,

8/15/2045

100,000

111,547

2.25%,

8/15/2046

200,000

198,687

2.88%,

11/15/2046

50,000

55,828

3.00%,

2/15/2047

65,000

74,293

3.00%,

5/15/2047

150,000

171,539

2.75%,

8/15/2047

90,000

98,367

2.75%,

11/15/2047

75,000

82,031

3.00%,

2/15/2048

66,000

75,622

3.13%,

5/15/2048

210,000

246,225

3.00%,

8/15/2048

225,000

258,152

3.38%,

11/15/2048

165,000

202,589

3.00%,

2/15/2049

240,000

275,962

2.88%,

5/15/2049

155,000

174,205

2.25%,

8/15/2049

235,000

233,017

2.38%,

11/15/2049

(a)

140,000

142,691

2.00%,

2/15/2050

230,000

215,841

1.25%,

5/15/2050

(a)

248,000

192,549

1.38%,

8/15/2050

(a)

275,000

220,602

1.63%,

11/15/2050

(a)

220,000

188,306

1.88%,

2/15/2051

(a)

125,000

113,750

U.S.

Treasury

Notes

0.13%,

5/31/2022

50,000

50,025

1.75%,

5/31/2022

30,000

30,540

1.88%,

5/31/2022

180,000

183,473

1.75%,

6/15/2022

280,000

285,206

0.13%,

6/30/2022

50,000

50,020

1.75%,

6/30/2022

100,000

101,922

1.75%,

7/15/2022

200,000

203,977

0.13%,

7/31/2022

100,000

100,035

1.88%,

7/31/2022

100,000

102,219

2.00%,

7/31/2022

100,000

102,367

1.50%,

8/15/2022

105,000

106,895

0.13%,

8/31/2022

345,000

345,094

1.63%,

8/31/2022

100,000

102,012

1.88%,

8/31/2022

200,000

204,680

1.50%,

9/15/2022

105,000

106,989

0.13%,

9/30/2022

200,000

200,023

1.75%,

9/30/2022

300,000

306,914

1.88%,

9/30/2022

75,000

76,857

1.38%,

10/15/2022

180,000

183,270

0.13%,

10/31/2022

150,000

150,006

1.88%,

10/31/2022

300,000

307,816

2.00%,

10/31/2022

50,000

51,398

1.63%,

11/15/2022

50,000

51,145

0.13%,

11/30/2022

100,000

99,996

2.00%,

11/30/2022

75,000

77,206

1.63%,

12/15/2022

100,000

102,406

0.13%,

12/31/2022

130,000

129,970

2.13%,

12/31/2022

100,000

103,285

1.50%,

1/15/2023

100,000

102,305

0.13%,

1/31/2023

175,000

174,938

2.38%,

1/31/2023

50,000

51,938

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.6%

(continued)

U.S.

Treasury

Notes

(continued)

2.00%,

2/15/2023

115,000

118,778

0.13%,

2/28/2023

120,000

119,939

1.50%,

2/28/2023

21,000

21,514

0.50%,

3/15/2023

185,000

186,178

0.13%,

3/31/2023

325,000

324,797

1.50%,

3/31/2023

25,000

25,637

0.25%,

4/15/2023

195,000

195,320

0.13%,

4/30/2023

200,000

199,852

1.63%,

4/30/2023

100,000

102,883

0.13%,

5/15/2023

245,000

244,732

1.75%,

5/15/2023

105,000

108,339

1.63%,

5/31/2023

200,000

205,969

0.25%,

6/15/2023

180,000

180,239

1.38%,

6/30/2023

225,000

230,713

2.63%,

6/30/2023

200,000

210,516

0.13%,

7/15/2023

125,000

124,795

1.25%,

7/31/2023

100,000

102,336

2.75%,

7/31/2023

200,000

211,391

0.13%,

8/15/2023

240,000

239,531

2.50%,

8/15/2023

200,000

210,406

1.38%,

8/31/2023

150,000

154,031

2.75%,

8/31/2023

200,000

211,750

0.13%,

9/15/2023

250,000

249,434

1.38%,

9/30/2023

80,000

82,200

2.88%,

9/30/2023

200,000

212,734

0.13%,

10/15/2023

100,000

99,734

1.63%,

10/31/2023

200,000

206,875

0.25%,

11/15/2023

100,000

100,008

2.75%,

11/15/2023

125,000

132,900

2.13%,

11/30/2023

200,000

209,625

0.13%,

12/15/2023

125,000

124,541

2.25%,

12/31/2023

200,000

210,484

2.63%,

12/31/2023

200,000

212,469

0.13%,

1/15/2024

100,000

99,586

2.25%,

1/31/2024

200,000

210,766

2.50%,

1/31/2024

200,000

212,109

0.13%,

2/15/2024

(a)

130,000

129,421

2.75%,

2/15/2024

(a)

200,000

213,641

2.13%,

2/29/2024

200,000

210,266

2.38%,

2/29/2024

200,000

211,656

0.25%,

3/15/2024

(a)

320,000

319,475

2.13%,

3/31/2024

250,000

263,066

0.38%,

4/15/2024

190,000

190,223

2.00%,

4/30/2024

141,000

147,962

2.50%,

5/15/2024

80,000

85,219

2.00%,

5/31/2024

150,000

157,523

1.75%,

6/30/2024

50,000

52,148

2.00%,

6/30/2024

80,000

84,069

2.13%,

7/31/2024

50,000

52,781

2.38%,

8/15/2024

50,000

53,215

2.13%,

9/30/2024

100,000

105,688

2.25%,

10/31/2024

81,000

85,999

2.25%,

11/15/2024

125,000

132,773

1.50%,

11/30/2024

200,000

207,125

2.13%,

11/30/2024

130,000

137,546

1.75%,

12/31/2024

100,000

104,477

2.25%,

12/31/2024

(a)

125,000

132,920

1.38%,

1/31/2025

75,000

77,326

2.50%,

1/31/2025

100,000

107,336

2.00%,

2/15/2025

150,000

158,238

69

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.6%

(continued)

U.S.

Treasury

Notes

(continued)

1.13%,

2/28/2025

(a)

85,000

86,820

2.75%,

2/28/2025

175,000

189,602

0.50%,

3/31/2025

35,000

34,888

0.38%,

4/30/2025

100,000

99,109

2.13%,

5/15/2025

105,000

111,366

0.25%,

5/31/2025

(a)

10,000

9,846

0.25%,

6/30/2025

100,000

98,352

0.25%,

7/31/2025

100,000

98,227

2.00%,

8/15/2025

80,000

84,519

0.25%,

8/31/2025

(a)

85,000

83,373

0.25%,

9/30/2025

135,000

132,289

0.25%,

10/31/2025

(a)

100,000

97,852

2.25%,

11/15/2025

190,000

202,870

0.38%,

11/30/2025

150,000

147,422

2.88%,

11/30/2025

100,000

109,586

0.38%,

12/31/2025

(a)

105,000

103,056

0.38%,

1/31/2026

(a)

275,000

269,543

2.63%,

1/31/2026

40,000

43,428

1.63%,

2/15/2026

315,000

327,108

0.50%,

2/28/2026

320,000

315,225

2.50%,

2/28/2026

60,000

64,814

0.75%,

3/31/2026

(a)

325,000

323,730

2.25%,

3/31/2026

150,000

160,266

0.75%,

4/30/2026

200,000

199,047

2.38%,

4/30/2026

200,000

214,969

1.63%,

5/15/2026

345,000

357,964

2.13%,

5/31/2026

150,000

159,375

1.88%,

6/30/2026

50,000

52,488

1.88%,

7/31/2026

134,000

140,637

1.50%,

8/15/2026

245,000

252,216

1.38%,

8/31/2026

50,000

51,145

1.63%,

9/30/2026

100,000

103,539

1.63%,

10/31/2026

150,000

155,203

2.00%,

11/15/2026

100,000

105,461

1.63%,

11/30/2026

100,000

103,422

1.50%,

1/31/2027

200,000

205,219

2.25%,

2/15/2027

200,000

213,563

0.63%,

3/31/2027

100,000

97,406

0.50%,

4/30/2027

35,000

33,778

2.38%,

5/15/2027

75,000

80,613

0.50%,

5/31/2027

245,000

235,985

0.50%,

6/30/2027

250,000

240,391

0.38%,

7/31/2027

225,000

214,277

2.25%,

8/15/2027

125,000

133,301

0.50%,

8/31/2027

220,000

210,856

0.38%,

9/30/2027

100,000

94,898

0.50%,

10/31/2027

90,000

85,950

2.25%,

11/15/2027

30,000

31,959

0.63%,

11/30/2027

100,000

96,141

0.63%,

12/31/2027

(a)

130,000

124,800

0.75%,

1/31/2028

135,000

130,486

2.75%,

2/15/2028

(a)

175,000

192,008

1.13%,

2/29/2028

135,000

133,671

1.25%,

3/31/2028

130,000

129,634

1.25%,

4/30/2028

205,000

204,199

2.88%,

5/15/2028

132,000

146,004

2.88%,

8/15/2028

124,000

137,253

3.13%,

11/15/2028

275,000

309,504

2.63%,

2/15/2029

267,000

290,905

2.38%,

5/15/2029

250,000

267,695

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.6%

(continued)

U.S.

Treasury

Notes

(continued)

1.63%,

8/15/2029

(a)

100,000

101,250

1.75%,

11/15/2029

(a)

140,000

142,931

1.50%,

2/15/2030

(a)

177,000

176,475

0.63%,

5/15/2030

380,000

349,659

0.63%,

8/15/2030

(a)

410,000

375,727

0.88%,

11/15/2030

(a)

245,000

229,113

1.13%,

2/15/2031

(a)

100,000

95,484

Total

U.S.

Treasury

Government

Securities

(cost

$31,375,864)

30,595,181

Shares

Investment

Companies

–

7.1%

Registered

Investment

Companies

–

7.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$5,932,957)

5,932,957

5,932,957

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.1%

Registered

Investment

Companies

–

1.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$891,874)

891,874

891,874

Total

Investments

Before

TBA

Sale

Commitments  (cost

$91,202,722)

108.0%

90,250,236

TBA

Sale

Commitments

–

(

0.5

)

%

Principal

Amount

($)

Federal

National

Mortgage

Association

(h)

3.50%,

5/15/2036

(d)

75,000

(80,230)

3.50%,

5/15/2051

(d)

125,000

(133,054)

4.00%,

5/15/2051

(d)

75,000

(80,578)

4.50%,

5/15/2051

(d)

75,000

(81,703)

Government

National

Mortgage

Association

(h)

4.00%,

5/15/2051

25,000

(26,685)

4.50%,

5/15/2051

25,000

(27,039)

Total

TBA

Sale

Commitments

(cost

$(428,204))

(429,289)

Total

Investments

(cost

$90,774,518)

107.5%

89,820,947

Liabilities,

Less

Cash

and

Receivables

(7.5)%

(6,291,629)

Net

Assets

100.0%

83,529,318

GO—General

Obligation

RB—Revenue

Bond

REMICs—Real

Estate

Mortgage

Investment

Conduits

70

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$5,027,604

and

the

value

of

the

collateral

was

$5,149,683,

consisting

of

cash

collateral

of

$891,874

and

U.S.

Government

&

Agency

securities

valued

at

$4,257,809.

(b)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$434,900

or

0.52%

of

net

assets.

(c)

Denotes

a

zero

coupon

security

issued

at

a

substantial

discount

from

its

value

at

maturity.

(d)

The

Federal

Housing

Finance

Agency

(“FHFA”)

placed

the

Federal

Home

Loan

Mortgage

Corporation

and

Federal

National

Mortgage

Association

into

conservatorship

with

FHFA

as

the

conservator.

As

such,

the

FHFA

oversees

the

continuing

affairs

of

these

companies.

(e)

Purchased

on

a

forward

commitment

basis.

(f)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

(h)

Sales

on

a

forward

commitment

basis.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,088,560

13,860,292

(9,015,895)

—

—

5,932,957

7.1

228

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

88,150

2,302,795

(1,499,071)

—

—

891,874

1.1

1,145

2

Total

1,176,710

16,163,087

(10,514,966)

—

—

6,824,831

8.2

1,373

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Government

41.1

Financial

39.3

Registered

Investment

Companies

8.2

Consumer,

Non-cyclical

5.2

Communications

2.7

Energy

2.5

Industrial

2.4

Utilities

2.2

Technology

2.1

Consumer,

Cyclical

1.7

Basic

Materials

0.6

TBA

Sale

Commitments

(0.5)

107.5

†

Based

on

net

assets.

71

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

Basic

Materials

–

1.5%

Air

Products

&

Chemicals,

Inc.,

1.50%,

10/15/2025

25,000

25,537

Dow

Chemical

Co.

(The),

3.50%,

10/01/2024

17,000

18,361

DuPont

de

Nemours,

Inc.

4.21%,

11/15/2023

50,000

54,278

4.49%,

11/15/2025

50,000

56,821

LYB

International

Finance

BV,

4.00%,

7/15/2023

50,000

53,677

Mosaic

Co.

(The),

4.25%,

11/15/2023

25,000

27,003

Nucor

Corp.,

2.00%,

6/01/2025

25,000

25,886

Nutrien

Ltd.,

3.15%,

10/01/2022

65,000

66,988

PPG

Industries,

Inc.,

1.20%,

3/15/2026

25,000

24,830

Reliance

Steel

&

Aluminum

Co.,

1.30%,

8/15/2025

25,000

24,985

Rio

Tinto

Finance

USA

Ltd.,

3.75%,

6/15/2025

25,000

27,703

Steel

Dynamics,

Inc.

2.80%,

12/15/2024

50,000

53,061

2.40%,

6/15/2025

50,000

52,284

511,414

Communications

–

5.8%

Alphabet,

Inc.,

0.45%,

8/15/2025

25,000

24,772

Amazon.com,

Inc.

2.80%,

8/22/2024

85,000

91,165

0.80%,

6/03/2025

20,000

20,024

Amazon.Com,

Inc.,

0.40%,

6/03/2023

10,000

10,036

AT&T,

Inc.

3.00%,

6/30/2022

50,000

51,297

3.40%,

5/15/2025

95,000

103,477

1.70%,

3/25/2026

50,000

50,223

Booking

Holdings,

Inc.,

3.65%,

3/15/2025

50,000

54,657

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.46%,

7/23/2022

50,000

52,034

4.91%,

7/23/2025

75,000

85,255

Cisco

Systems,

Inc.

2.20%,

9/20/2023

70,000

73,031

3.63%,

3/04/2024

10,000

10,894

Comcast

Cable

Communications

Holdings,

Inc.,

9.46%,

11/15/2022

50,000

56,979

Comcast

Corp.

3.00%,

2/01/2024

50,000

53,407

3.60%,

3/01/2024

20,000

21,758

3.38%,

2/15/2025

50,000

54,588

3.10%,

4/01/2025

20,000

21,674

3.95%,

10/15/2025

25,000

28,063

Discovery

Communications

LLC

2.95%,

3/20/2023

(a)

27,000

28,165

3.45%,

3/15/2025

60,000

64,508

E*Trade

Financial

Corp.,

2.95%,

8/24/2022

50,000

51,519

eBay,

Inc.

3.45%,

8/01/2024

25,000

26,969

1.90%,

3/11/2025

25,000

25,829

Expedia

Group,

Inc.,

4.50%,

8/15/2024

15,000

16,473

Fox

Corp.,

3.05%,

4/07/2025

25,000

26,740

Juniper

Networks,

Inc.,

1.20%,

12/10/2025

25,000

24,768

Omnicom

Group,

Inc.

/

Omnicom

Capital,

Inc.,

3.65%,

11/01/2024

45,000

49,105

Rogers

Communications,

Inc.,

4.10%,

10/01/2023

50,000

53,798

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Communications

–

5.8%

(continued)

TCI

Communications,

Inc.,

7.88%,

2/15/2026

20,000

25,974

T-Mobile

USA,

Inc.,

3.50%,

4/15/2025

(b)

50,000

54,201

Verizon

Communications,

Inc.

5.15%,

9/15/2023

70,000

77,231

3.38%,

2/15/2025

75,000

81,812

0.85%,

11/20/2025

25,000

24,660

1.45%,

3/20/2026

70,000

70,411

ViacomCBS

,

Inc.

3.70%,

8/15/2024

45,000

48,847

4.75%,

5/15/2025

50,000

56,669

Vodafone

Group

PLC,

3.75%,

1/16/2024

50,000

54,274

Walt

Disney

Co.

(The)

1.65%,

9/01/2022

50,000

50,898

3.70%,

10/15/2025

75,000

82,975

1.75%,

1/13/2026

25,000

25,678

WPP

Finance

2010,

3.75%,

9/19/2024

50,000

54,645

1,939,483

Consumer,

Cyclical

–

7.7%

American

Honda

Finance

Corp.

1.95%,

5/20/2022

25,000

25,417

2.20%,

6/27/2022

45,000

45,976

3.45%,

7/14/2023

30,000

31,972

2.15%,

9/10/2024

70,000

73,233

1.20%,

7/08/2025

25,000

25,177

AutoZone,

Inc.

3.13%,

7/15/2023

50,000

52,583

3.13%,

4/18/2024

15,000

16,028

Continental

Airlines

Pass-Through

Trust,

Series

2012-1,

Class

A,

4.15%,

4/11/2024

15,156

15,987

Costco

Wholesale

Corp.,

2.75%,

5/18/2024

70,000

74,688

Cummins,

Inc.,

0.75%,

9/01/2025

25,000

24,747

D.R.

Horton,

Inc.

5.75%,

8/15/2023

25,000

27,582

2.50%,

10/15/2024

50,000

52,679

Dollar

General

Corp.,

4.15%,

11/01/2025

25,000

28,016

Dollar

Tree,

Inc.

3.70%,

5/15/2023

25,000

26,533

4.00%,

5/15/2025

50,000

55,319

General

Motors

Co.

4.88%,

10/02/2023

75,000

82,081

5.40%,

10/02/2023

25,000

27,662

6.13%,

10/01/2025

25,000

29,667

General

Motors

Financial

Co.,

Inc.

3.55%,

7/08/2022

100,000

103,449

1.70%,

8/18/2023

25,000

25,526

3.95%,

4/13/2024

25,000

27,023

4.00%,

1/15/2025

50,000

54,472

2.90%,

2/26/2025

50,000

52,771

2.75%,

6/20/2025

25,000

26,283

1.25%,

1/08/2026

25,000

24,676

Hasbro,

Inc.,

3.00%,

11/19/2024

25,000

26,628

Home

Depot,

Inc.

(The)

2.63%,

6/01/2022

50,000

51,202

2.70%,

4/01/2023

25,000

26,054

Hyatt

Hotels

Corp.,

5.38%,

4/23/2025

25,000

28,199

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

65,000

68,158

Lennar

Corp.,

4.50%,

4/30/2024

25,000

27,331

72

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Cyclical

–

7.7%

(continued)

Lowe's

Cos.,

Inc.

3.13%,

9/15/2024

15,000

16,110

4.00%,

4/15/2025

50,000

55,539

Magna

International,

Inc.,

4.15%,

10/01/2025

25,000

28,159

Marriott

International,

Inc.,

Series

EE,

5.75%,

5/01/2025

50,000

57,583

McDonald's

Corp.

3.30%,

7/01/2025

25,000

27,228

1.45%,

9/01/2025

25,000

25,431

3.70%,

1/30/2026

25,000

27,763

Nike,

Inc.,

2.40%,

3/27/2025

50,000

52,943

PACCAR

Financial

Corp.

2.65%,

5/10/2022

50,000

51,258

0.35%,

8/11/2023

25,000

24,984

PVH

Corp.,

4.63%,

7/10/2025

25,000

27,764

Ross

Stores,

Inc.,

4.60%,

4/15/2025

25,000

28,248

Southwest

Airlines

Co.,

5.25%,

5/04/2025

50,000

57,281

Starbucks

Corp.,

3.10%,

3/01/2023

50,000

52,400

Tapestry,

Inc.,

4.25%,

4/01/2025

25,000

27,185

Target

Corp.,

2.25%,

4/15/2025

50,000

52,651

TJX

Cos.,

Inc.

(The),

3.50%,

4/15/2025

25,000

27,368

Toyota

Motor

Corp.,

0.68%,

3/25/2024

100,000

100,441

Toyota

Motor

Credit

Corp.

2.15%,

9/08/2022

70,000

71,782

2.90%,

3/30/2023

25,000

26,243

3.45%,

9/20/2023

50,000

53,587

2.90%,

4/17/2024

25,000

26,712

3.00%,

4/01/2025

50,000

53,970

3.40%,

4/14/2025

25,000

27,363

0.80%,

10/16/2025

15,000

14,891

United

Airlines

2014-1

Class

A

Pass-Through

Trust,

Series

A,

4.00%,

4/11/2026

13,391

13,847

VF

Corp.,

2.40%,

4/23/2025

25,000

26,258

Walgreens

Boots

Alliance,

Inc.,

3.80%,

11/18/2024

50,000

54,383

Walmart,

Inc.

2.35%,

12/15/2022

100,000

103,229

2.85%,

7/08/2024

75,000

80,510

WW

Grainger,

Inc.,

1.85%,

2/15/2025

25,000

25,977

2,576,207

Consumer,

Non-cyclical

–

14.5%

Abbott

Laboratories

3.40%,

11/30/2023

25,000

26,801

2.95%,

3/15/2025

50,000

53,808

AbbVie,

Inc.

2.30%,

11/21/2022

75,000

77,165

2.85%,

5/14/2023

45,000

47,038

3.85%,

6/15/2024

25,000

27,215

2.60%,

11/21/2024

75,000

79,377

3.80%,

3/15/2025

50,000

54,795

3.60%,

5/14/2025

70,000

76,528

Aetna,

Inc.,

2.80%,

6/15/2023

50,000

52,237

Altria

Group,

Inc.

2.85%,

8/09/2022

35,000

36,077

2.35%,

5/06/2025

25,000

26,105

AmerisourceBergen

Corp.,

0.74%,

3/15/2023

50,000

50,130

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

14.5%

(continued)

Amgen,

Inc.

2.65%,

5/11/2022

50,000

51,114

3.13%,

5/01/2025

25,000

26,939

Anheuser-Busch

InBev

Finance,

Inc.,

3.65%,

2/01/2026

50,000

55,229

Anheuser-Busch

InBev

Worldwide,

Inc.,

4.15%,

1/23/2025

50,000

55,772

Anthem,

Inc.

3.30%,

1/15/2023

25,000

26,215

3.50%,

8/15/2024

50,000

54,129

3.35%,

12/01/2024

25,000

27,098

2.38%,

1/15/2025

50,000

52,455

Archer-Daniels-Midland

Co.,

2.75%,

3/27/2025

25,000

26,729

AstraZeneca

PLC,

3.38%,

11/16/2025

50,000

54,825

BAT

Capital

Corp.,

3.22%,

8/15/2024

65,000

69,160

Becton,

Dickinson

&

Co.

3.36%,

6/06/2024

75,000

80,765

3.73%,

12/15/2024

35,000

38,319

Biogen,

Inc.,

4.05%,

9/15/2025

50,000

55,626

Boston

Scientific

Corp.,

3.45%,

3/01/2024

50,000

53,640

Bristol-Myers

Squibb

Co.

2.60%,

5/16/2022

80,000

81,991

2.75%,

2/15/2023

45,000

46,893

2.90%,

7/26/2024

50,000

53,584

3.88%,

8/15/2025

25,000

27,899

0.75%,

11/13/2025

15,000

14,870

Bunge

Ltd.

Finance

Corp.,

1.63%,

8/17/2025

20,000

20,242

Campbell

Soup

Co.,

2.50%,

8/02/2022

50,000

51,342

Cardinal

Health,

Inc.,

3.08%,

6/15/2024

50,000

53,259

Cigna

Corp.

3.05%,

11/30/2022

35,000

36,329

3.75%,

7/15/2023

41,000

43,792

1.25%,

3/15/2026

50,000

49,947

Coca-Cola

Co.

(The),

2.95%,

3/25/2025

25,000

27,045

Commonspirit

Health,

2.76%,

10/01/2024

25,000

26,452

ConAgra

Brands,

Inc.,

4.30%,

5/01/2024

25,000

27,588

Constellation

Brands,

Inc.,

3.20%,

2/15/2023

65,000

67,986

CVS

Health

Corp.

3.70%,

3/09/2023

(a)

41,000

43,382

3.38%,

8/12/2024

50,000

53,894

4.10%,

3/25/2025

60,000

66,822

Diageo

Investment

Corp.,

2.88%,

5/11/2022

50,000

51,322

Equifax,

Inc.

2.60%,

12/01/2024

25,000

26,471

2.60%,

12/15/2025

50,000

52,754

Estee

Lauder

Cos.,

Inc.

(The),

2.00%,

12/01/2024

25,000

26,247

General

Mills,

Inc.

2.60%,

10/12/2022

25,000

25,746

4.00%,

4/17/2025

25,000

27,723

Gilead

Sciences,

Inc.

3.25%,

9/01/2022

50,000

51,676

0.75%,

9/29/2023

75,000

75,096

3.50%,

2/01/2025

25,000

27,206

3.65%,

3/01/2026

25,000

27,601

GlaxoSmithKline

Capital

PLC,

3.00%,

6/01/2024

70,000

75,088

73

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

14.5%

(continued)

GlaxoSmithKline

Capital,

Inc.

2.80%,

3/18/2023

25,000

26,158

3.38%,

5/15/2023

50,000

53,054

Global

Payments,

Inc.,

2.65%,

2/15/2025

50,000

52,732

HCA,

Inc.

4.75%,

5/01/2023

25,000

26,944

5.00%,

3/15/2024

30,000

33,428

Hershey

Co.

(The),

0.90%,

6/01/2025

25,000

24,982

Humana,

Inc.,

3.85%,

10/01/2024

15,000

16,338

Johnson

&

Johnson,

2.45%,

3/01/2026

50,000

53,438

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

16,000

17,124

3.13%,

12/15/2023

25,000

26,522

0.75%,

3/15/2024

35,000

35,011

Kimberly-Clark

Corp.,

3.05%,

8/15/2025

25,000

27,071

Kroger

Co.

(The),

3.50%,

2/01/2026

25,000

27,518

Laboratory

Corp.

of

America

Holdings,

3.60%,

2/01/2025

50,000

54,317

McCormick

&

Co.,

Inc.

2.70%,

8/15/2022

70,000

71,931

0.90%,

2/15/2026

10,000

9,792

Medtronic,

Inc.,

3.50%,

3/15/2025

34,000

37,428

Merck

&

Co.,

Inc.

2.80%,

5/18/2023

25,000

26,276

2.90%,

3/07/2024

50,000

53,384

2.75%,

2/10/2025

40,000

42,738

Mondelez

International,

Inc.

0.63%,

7/01/2022

45,000

45,142

1.50%,

5/04/2025

50,000

51,052

Moody's

Corp.

4.50%,

9/01/2022

15,000

15,641

3.75%,

3/24/2025

25,000

27,451

Novartis

Capital

Corp.

2.40%,

5/17/2022

75,000

76,559

3.00%,

11/20/2025

50,000

54,237

PayPal

Holdings,

Inc.

2.40%,

10/01/2024

50,000

52,704

1.65%,

6/01/2025

30,000

30,823

Peacehealth

Obligated

Group,

Series

2020,

1.38%,

11/15/2025

25,000

25,142

PepsiCo,

Inc.

3.10%,

7/17/2022

25,000

25,743

0.75%,

5/01/2023

50,000

50,504

2.25%,

3/19/2025

50,000

52,752

Pfizer,

Inc.

3.00%,

6/15/2023

40,000

42,264

2.95%,

3/15/2024

50,000

53,376

Philip

Morris

International,

Inc.

2.38%,

8/17/2022

25,000

25,627

2.88%,

5/01/2024

70,000

74,489

2.75%,

2/25/2026

25,000

26,794

Procter

&

Gamble

Co.

(The)

3.10%,

8/15/2023

10,000

10,656

0.55%,

10/29/2025

50,000

49,630

Reynolds

American,

Inc.,

4.45%,

6/12/2025

65,000

72,357

Royalty

Pharma

PLC,

0.75%,

9/02/2023

(b)

25,000

24,993

S&P

Global,

Inc.,

4.00%,

6/15/2025

15,000

16,707

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

14.5%

(continued)

Shire

Acquisitions

Investments

Ireland

DAC,

2.88%,

9/23/2023

25,000

26,256

Stryker

Corp.

3.38%,

11/01/2025

(a)

35,000

38,304

3.50%,

3/15/2026

25,000

27,501

SYSCO

Corp.,

3.55%,

3/15/2025

25,000

27,240

Thermo

Fisher

Scientific,

Inc.,

4.13%,

3/25/2025

50,000

55,642

Tyson

Foods,

Inc.

3.90%,

9/28/2023

35,000

37,661

4.00%,

3/01/2026

25,000

27,951

Unilever

Capital

Corp.,

2.60%,

5/05/2024

100,000

106,001

UnitedHealth

Group,

Inc.

3.35%,

7/15/2022

60,000

62,199

2.38%,

10/15/2022

50,000

51,534

3.75%,

7/15/2025

25,000

27,832

1.25%,

1/15/2026

50,000

50,398

Viatris

,

Inc.,

1.65%,

6/22/2025

(b)

30,000

30,294

Zimmer

Biomet

Holdings,

Inc.,

3.55%,

4/01/2025

50,000

54,543

4,839,723

Energy

–

7.5%

BP

Capital

Markets

America,

Inc.

3.25%,

5/06/2022

75,000

77,268

3.79%,

2/06/2024

10,000

10,842

3.19%,

4/06/2025

25,000

27,024

3.41%,

2/11/2026

25,000

27,464

BP

Capital

Markets

PLC

3.81%,

2/10/2024

15,000

16,345

3.51%,

3/17/2025

50,000

54,809

Canadian

Natural

Resources

Ltd.

2.95%,

1/15/2023

20,000

20,748

2.05%,

7/15/2025

30,000

30,631

Cenovus

Energy,

Inc.

4.00%,

4/15/2024

25,000

26,772

5.38%,

7/15/2025

25,000

28,408

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

25,000

28,647

Chevron

Corp.

2.36%,

12/05/2022

85,000

87,372

1.55%,

5/11/2025

75,000

76,923

Chevron

USA,

Inc.

0.43%,

8/11/2023

25,000

25,091

0.69%,

8/12/2025

25,000

24,756

Columbia

Pipeline

Group,

Inc.,

4.50%,

6/01/2025

15,000

16,895

Diamondback

Energy,

Inc.,

4.75%,

5/31/2025

35,000

39,439

Enbridge,

Inc.

2.90%,

7/15/2022

25,000

25,674

3.50%,

6/10/2024

50,000

53,619

Energy

Transfer

LP

4.25%,

3/15/2023

25,000

26,335

4.50%,

4/15/2024

75,000

82,373

2.90%,

5/15/2025

50,000

52,560

Energy

Transfer

LP

/

Regency

Energy

Finance

Corp.,

4.50%,

11/01/2023

20,000

21,522

74

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Energy

–

7.5%

(continued)

Enterprise

Products

Operating

LLC

3.90%,

2/15/2024

25,000

27,039

3.75%,

2/15/2025

25,000

27,360

3.70%,

2/15/2026

25,000

27,609

Series

D,

4.88%,

8/16/2077

10,000

9,683

EOG

Resources,

Inc.

2.63%,

3/15/2023

20,000

20,722

4.15%,

1/15/2026

25,000

28,284

Exxon

Mobil

Corp.

2.73%,

3/01/2023

50,000

52,016

2.02%,

8/16/2024

40,000

41,812

2.99%,

3/19/2025

125,000

134,641

HollyFrontier

Corp.,

5.88%,

4/01/2026

40,000

45,898

Kinder

Morgan

Energy

Partners

LP

3.95%,

9/01/2022

50,000

51,882

4.25%,

9/01/2024

50,000

55,039

Kinder

Morgan,

Inc.,

3.15%,

1/15/2023

25,000

26,063

Marathon

Petroleum

Corp.

4.75%,

12/15/2023

19,000

20,840

3.63%,

9/15/2024

50,000

54,005

MPLX

LP

3.38%,

3/15/2023

25,000

26,203

4.88%,

12/01/2024

70,000

78,491

ONEOK

Partners

LP,

3.38%,

10/01/2022

75,000

77,443

ONEOK,

Inc.,

2.75%,

9/01/2024

25,000

26,315

Phillips

66,

3.85%,

4/09/2025

70,000

76,908

Phillips

66

Partners

LP,

2.45%,

12/15/2024

20,000

20,834

Pioneer

Natural

Resources

Co.,

1.13%,

1/15/2026

25,000

24,668

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.

2.85%,

1/31/2023

25,000

25,679

4.65%,

10/15/2025

25,000

27,715

Sabine

Pass

Liquefaction

LLC,

5.63%,

3/01/2025

67,000

76,845

Schlumberger

Finance

Canada

Ltd.,

1.40%,

9/17/2025

20,000

20,266

Shell

International

Finance

BV

2.25%,

1/06/2023

50,000

51,683

3.40%,

8/12/2023

10,000

10,693

0.38%,

9/15/2023

20,000

20,011

2.00%,

11/07/2024

50,000

52,219

2.38%,

4/06/2025

50,000

52,861

Suncor

Energy,

Inc.,

3.10%,

5/15/2025

50,000

53,564

Total

Capital

International

SA

2.70%,

1/25/2023

25,000

26,039

3.75%,

4/10/2024

70,000

76,595

Transcontinental

Gas

Pipe

Line

Co.

LLC,

7.85%,

2/01/2026

25,000

31,857

Valero

Energy

Corp.,

3.65%,

3/15/2025

50,000

54,136

Williams

Cos.,

Inc.

(The)

3.35%,

8/15/2022

50,000

51,423

4.00%,

9/15/2025

25,000

27,688

2,494,546

Financial

–

41.7%

Aercap

Ireland

Capital

DAC

/

Aercap

Global

Aviation

Trust,

6.50%,

7/15/2025

50,000

58,700

Aflac,

Inc.,

3.25%,

3/17/2025

50,000

54,169

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.7%

(continued)

Air

Lease

Corp.

2.63%,

7/01/2022

50,000

51,061

2.30%,

2/01/2025

50,000

51,397

2.88%,

1/15/2026

50,000

52,074

Aircastle

Ltd.,

4.13%,

5/01/2024

50,000

53,066

Allstate

Corp.

(The)

0.75%,

12/15/2025

25,000

24,761

Series

B,

5.75%,

8/15/2053

10,000

10,700

Ally

Financial,

Inc.

1.45%,

10/02/2023

25,000

25,397

5.13%,

9/30/2024

25,000

28,336

American

Express

Co.

2.50%,

8/01/2022

200,000

205,089

3.40%,

2/22/2024

50,000

53,897

2.50%,

7/30/2024

50,000

53,072

American

International

Group,

Inc.

4.88%,

6/01/2022

50,000

52,337

2.50%,

6/30/2025

25,000

26,352

3.75%,

7/10/2025

25,000

27,530

American

Tower

Corp.

3.50%,

1/31/2023

50,000

52,642

3.00%,

6/15/2023

50,000

52,527

0.60%,

1/15/2024

10,000

9,986

2.40%,

3/15/2025

50,000

52,285

Ameriprise

Financial,

Inc.

3.70%,

10/15/2024

50,000

54,913

3.00%,

4/02/2025

25,000

26,818

Aon

PLC,

3.88%,

12/15/2025

25,000

27,811

Ares

Capital

Corp.

3.50%,

2/10/2023

50,000

52,079

4.20%,

6/10/2024

25,000

26,971

3.25%,

7/15/2025

50,000

52,250

Assured

Guaranty

US

Holdings,

Inc.,

5.00%,

7/01/2024

(a)

25,000

28,080

Banco

Santander

SA,

2.75%,

5/28/2025

200,000

210,561

Bank

of

America

Corp.

3.30%,

1/11/2023

60,000

63,036

3.00%,

12/20/2023

50,000

51,969

4.13%,

1/22/2024

75,000

82,163

3.55%,

3/05/2024

100,000

105,336

1.49%,

5/19/2024

25,000

25,435

4.20%,

8/26/2024

100,000

110,270

0.81%,

10/24/2024

125,000

125,287

3.46%,

3/15/2025

75,000

80,445

Series

L,

3.95%,

4/21/2025

50,000

54,996

3.88%,

8/01/2025

30,000

33,437

2.02%,

2/13/2026

100,000

103,202

1.32%,

6/19/2026

100,000

100,254

Series

N,

1.66%,

3/11/2027

75,000

75,637

3.56%,

4/23/2027

75,000

82,244

Bank

of

Montreal

0.45%,

12/08/2023

25,000

25,008

Series

E,

3.30%,

2/05/2024

25,000

26,885

1.85%,

5/01/2025

50,000

51,575

75

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.7%

(continued)

Bank

of

Nova

Scotia

(The)

2.00%,

11/15/2022

25,000

25,650

2.38%,

1/18/2023

25,000

25,874

3.40%,

2/11/2024

75,000

80,741

1.30%,

6/11/2025

30,000

30,269

4.50%,

12/16/2025

100,000

113,790

Bankunited

,

Inc.,

4.88%,

11/17/2025

25,000

28,424

Barclays

PLC,

4.38%,

9/11/2024

200,000

218,261

Berkshire

Hathaway

Finance

Corp.,

3.00%,

5/15/2022

70,000

71,951

BlackRock,

Inc.,

3.50%,

3/18/2024

100,000

108,931

BNP

Paribas

SA,

3.25%,

3/03/2023

50,000

52,764

Boston

Properties

LP,

3.20%,

1/15/2025

75,000

80,385

Brixmor

Operating

Partnership

LP

3.25%,

9/15/2023

50,000

52,837

3.65%,

6/15/2024

55,000

59,394

Canadian

Imperial

Bank

of

Commerce

2.55%,

6/16/2022

100,000

102,600

0.95%,

6/23/2023

30,000

30,308

2.25%,

1/28/2025

25,000

26,165

0.95%,

10/23/2025

(a)

25,000

24,935

Capital

One

Financial

Corp.

3.20%,

1/30/2023

75,000

78,528

3.90%,

1/29/2024

50,000

54,244

3.30%,

10/30/2024

50,000

54,103

4.20%,

10/29/2025

25,000

27,865

Charles

Schwab

Corp.

(The),

2.65%,

1/25/2023

50,000

51,974

Chubb

INA

Holdings,

Inc.

2.70%,

3/13/2023

25,000

26,067

3.35%,

5/15/2024

65,000

70,581

Citigroup,

Inc.

4.05%,

7/30/2022

25,000

26,084

2.88%,

7/24/2023

100,000

102,934

1.68%,

5/15/2024

50,000

51,133

3.75%,

6/16/2024

50,000

54,609

4.00%,

8/05/2024

45,000

49,186

3.35%,

4/24/2025

100,000

107,190

3.30%,

4/27/2025

50,000

54,391

4.40%,

6/10/2025

75,000

83,857

5.50%,

9/13/2025

40,000

46,855

3.11%,

4/08/2026

100,000

107,239

Comerica,

Inc.,

3.70%,

7/31/2023

50,000

53,484

Cooperatieve

Rabobank

UA,

2.75%,

1/10/2023

50,000

52,036

Credit

Suisse

Group

AG,

3.75%,

3/26/2025

250,000

271,037

Crown

Castle

International

Corp.,

3.20%,

9/01/2024

95,000

101,824

Deutsche

Bank

AG

3.30%,

11/16/2022

100,000

103,857

4.10%,

1/13/2026

(a)

25,000

27,451

Discover

Financial

Services,

3.85%,

11/21/2022

100,000

105,143

Equinix

,

Inc.

1.25%,

7/15/2025

(a)

30,000

29,954

1.00%,

9/15/2025

25,000

24,677

ERP

Operating

LP,

3.38%,

6/01/2025

20,000

21,702

Essex

Portfolio

LP,

3.25%,

5/01/2023

13,000

13,600

Fidelity

National

Financial,

Inc.,

5.50%,

9/01/2022

50,000

53,210

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.7%

(continued)

Fifth

Third

Bancorp

1.63%,

5/05/2023

25,000

25,567

3.65%,

1/25/2024

145,000

156,301

Franklin

Resources,

Inc.

2.80%,

9/15/2022

25,000

25,826

2.85%,

3/30/2025

50,000

53,530

Fs

KKR

Capital

Corp.,

3.40%,

1/15/2026

50,000

51,123

GLP

Capital

LP

/

GLP

Financing

II,

Inc.,

5.25%,

6/01/2025

25,000

28,213

Goldman

Sachs

Group,

Inc.

(The)

3.20%,

2/23/2023

50,000

52,433

2.91%,

7/24/2023

100,000

102,946

3.63%,

2/20/2024

25,000

26,962

4.00%,

3/03/2024

40,000

43,701

3.85%,

7/08/2024

100,000

108,797

3.50%,

1/23/2025

50,000

54,198

3.50%,

4/01/2025

50,000

54,401

3.27%,

9/29/2025

100,000

107,425

4.25%,

10/21/2025

150,000

168,121

0.86%,

2/12/2026

10,000

9,913

1.09%,

12/09/2026

50,000

49,302

1.43%,

3/09/2027

50,000

49,813

Healthpeak

Properties,

Inc.,

4.00%,

6/01/2025

20,000

22,202

Host

Hotels

&

Resorts

LP,

Series

E,

4.00%,

6/15/2025

20,000

21,487

HSBC

Holdings

PLC,

4.29%,

9/12/2026

200,000

222,026

HSBC

USA,

Inc.,

3.50%,

6/23/2024

150,000

162,452

Huntington

Bancshares,

Inc.,

2.63%,

8/06/2024

100,000

105,768

Huntington

National

Bank

(The),

3.13%,

4/01/2022

100,000

102,414

Intercontinental

Exchange,

Inc.,

0.70%,

6/15/2023

50,000

50,270

Jefferies

Financial

Group,

Inc.,

5.50%,

10/18/2023

25,000

27,004

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

50,000

52,554

0.70%,

3/16/2024

(a)

35,000

35,118

3.56%,

4/23/2024

75,000

79,438

3.63%,

5/13/2024

75,000

81,851

1.51%,

6/01/2024

50,000

50,969

3.88%,

9/10/2024

100,000

109,329

3.13%,

1/23/2025

50,000

53,863

3.22%,

3/01/2025

105,000

112,099

3.90%,

7/15/2025

40,000

44,309

2.30%,

10/15/2025

60,000

62,631

2.08%,

4/22/2026

50,000

51,696

1.05%,

11/19/2026

50,000

49,252

3.96%,

1/29/2027

50,000

55,567

1.04%,

2/04/2027

50,000

49,054

1.58%,

4/22/2027

50,000

50,251

KeyCorp,

4.15%,

10/29/2025

25,000

28,263

Lincoln

National

Corp.,

3.35%,

3/09/2025

25,000

27,157

Lloyds

Banking

Group

PLC,

2.44%,

2/05/2026

200,000

208,503

M&T

Bank

Corp.,

3.55%,

7/26/2023

50,000

53,418

Manulife

Financial

Corp.,

4.15%,

3/04/2026

25,000

28,247

Marsh

&

McLennan

Cos.,

Inc.,

3.30%,

3/14/2023

50,000

52,509

MetLife,

Inc.,

Series

D,

4.37%,

9/15/2023

50,000

54,543

76

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.7%

(continued)

Mitsubishi

UFJ

Financial

Group,

Inc.

2.67%,

7/25/2022

100,000

102,811

3.46%,

3/02/2023

25,000

26,334

3.41%,

3/07/2024

100,000

107,407

3.78%,

3/02/2025

75,000

82,273

Morgan

Stanley

4.88%,

11/01/2022

100,000

106,470

0.56%,

11/10/2023

(a)

100,000

100,073

Series

F,

3.88%,

4/29/2024

100,000

109,168

3.70%,

10/23/2024

25,000

27,352

2.72%,

7/22/2025

100,000

105,683

4.00%,

7/23/2025

65,000

72,493

5.00%,

11/24/2025

100,000

115,394

3.88%,

1/27/2026

60,000

66,909

2.19%,

4/28/2026

50,000

51,995

NASDAQ,

Inc.

0.45%,

12/21/2022

25,000

25,002

4.25%,

6/01/2024

25,000

27,454

National

Bank

of

Canada

2.10%,

2/01/2023

15,000

15,428

0.90%,

8/15/2023

100,000

100,531

Northern

Trust

Corp.,

3.95%,

10/30/2025

25,000

28,297

Office

Properties

Income

Trust,

4.50%,

2/01/2025

20,000

21,456

OMEGA

Healthcare

Investors,

Inc.,

4.50%,

1/15/2025

35,000

38,172

Owl

Rock

Capital

Corp.,

4.00%,

3/30/2025

50,000

53,456

People's

United

Financial,

Inc.,

3.65%,

12/06/2022

100,000

104,200

PNC

Financial

Services

Group,

Inc.

(The)

2.85%,

11/09/2022

(c)

25,000

25,955

3.90%,

4/29/2024

50,000

54,645

2.20%,

11/01/2024

75,000

79,227

Prospect

Capital

Corp.,

3.71%,

1/22/2026

50,000

50,582

Prudential

Financial,

Inc.

5.63%,

6/15/2043

50,000

54,111

5.38%,

5/15/2045

25,000

27,533

Public

Storage,

2.37%,

9/15/2022

50,000

51,317

Realty

Income

Corp.,

4.65%,

8/01/2023

50,000

54,108

Regions

Financial

Corp.

3.80%,

8/14/2023

75,000

80,383

2.25%,

5/18/2025

25,000

26,094

Royal

Bank

of

Canada

3.70%,

10/05/2023

50,000

53,928

2.25%,

11/01/2024

100,000

104,984

1.15%,

6/10/2025

30,000

30,149

1.20%,

4/27/2026

35,000

34,926

Sabra

Health

Care

LP,

4.80%,

6/01/2024

25,000

27,411

Santander

Holdings

USA,

Inc.

3.40%,

1/18/2023

50,000

52,127

4.50%,

7/17/2025

40,000

44,458

Santander

UK

PLC,

4.00%,

3/13/2024

100,000

109,692

Simon

Property

Group

LP

2.63%,

6/15/2022

70,000

71,382

2.75%,

6/01/2023

25,000

26,007

3.50%,

9/01/2025

25,000

27,320

Site

Centers

Corp.,

3.63%,

2/01/2025

50,000

52,512

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.7%

(continued)

State

Street

Corp.

3.70%,

11/20/2023

100,000

108,496

3.78%,

12/03/2024

25,000

27,097

3.55%,

8/18/2025

30,000

33,279

Stifel

Financial

Corp.,

4.25%,

7/18/2024

25,000

27,675

Sumitomo

Mitsui

Financial

Group,

Inc.

2.78%,

7/12/2022

25,000

25,718

2.35%,

1/15/2025

200,000

208,253

Synchrony

Financial,

4.50%,

7/23/2025

40,000

44,641

Toronto-Dominion

Bank

(The)

0.75%,

6/12/2023

30,000

30,232

0.45%,

9/11/2023

25,000

25,026

0.55%,

3/04/2024

35,000

34,994

2.65%,

6/12/2024

100,000

106,210

1.15%,

6/12/2025

30,000

30,173

Truist

Bank,

2.15%,

12/06/2024

50,000

52,431

Truist

Financial

Corp.

3.05%,

6/20/2022

100,000

102,928

2.85%,

10/26/2024

50,000

53,671

3.70%,

6/05/2025

30,000

33,086

1.20%,

8/05/2025

30,000

30,198

1.27%,

3/02/2027

25,000

24,895

US

Bancorp

2.95%,

7/15/2022

50,000

51,479

3.38%,

2/05/2024

50,000

53,928

3.60%,

9/11/2024

75,000

82,207

US

Bank

NA,

2.80%,

1/27/2025

100,000

107,075

Ventas

Realty

LP,

3.50%,

4/15/2024

50,000

53,886

VEREIT

Operating

Partnership

LP,

4.63%,

11/01/2025

65,000

73,823

Visa,

Inc.

2.80%,

12/14/2022

85,000

88,180

3.15%,

12/14/2025

25,000

27,359

Voya

Financial,

Inc.,

3.13%,

7/15/2024

65,000

69,759

Wells

Fargo

&

Co.

2.63%,

7/22/2022

50,000

51,403

4.13%,

8/15/2023

100,000

108,043

1.65%,

6/02/2024

25,000

25,567

3.30%,

9/09/2024

150,000

162,446

3.00%,

2/19/2025

25,000

26,840

2.16%,

2/11/2026

25,000

25,911

3.00%,

4/22/2026

25,000

26,975

2.19%,

4/30/2026

100,000

103,694

Welltower

,

Inc.,

4.00%,

6/01/2025

20,000

22,186

Western

Union

Co.

(The),

2.85%,

1/10/2025

25,000

26,434

Westpac

Banking

Corp.

2.50%,

6/28/2022

50,000

51,307

2.00%,

1/13/2023

25,000

25,724

3.30%,

2/26/2024

50,000

53,932

13,927,320

Industrial

–

6.8%

3M

Co.

3.25%,

2/14/2024

90,000

96,679

2.00%,

2/14/2025

25,000

26,113

Arrow

Electronics,

Inc.,

3.25%,

9/08/2024

65,000

69,595

77

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Industrial

–

6.8%

(continued)

Boeing

Co.

(The)

4.51%,

5/01/2023

40,000

42,719

1.95%,

2/01/2024

50,000

51,395

4.88%,

5/01/2025

45,000

50,516

2.75%,

2/01/2026

50,000

51,886

2.20%,

2/04/2026

125,000

125,150

Burlington

Northern

Santa

Fe

LLC

3.85%,

9/01/2023

10,000

10,737

3.75%,

4/01/2024

50,000

54,164

3.65%,

9/01/2025

15,000

16,577

Carrier

Global

Corp.,

2.24%,

2/15/2025

25,000

26,088

Caterpillar

Financial

Services

Corp.

1.90%,

9/06/2022

70,000

71,557

0.45%,

9/14/2023

50,000

50,152

3.75%,

11/24/2023

60,000

65,162

0.80%,

11/13/2025

25,000

24,793

CNH

Industrial

Capital

LLC

1.95%,

7/02/2023

25,000

25,699

1.88%,

1/15/2026

25,000

25,405

Flex

Ltd.,

4.75%,

6/15/2025

20,000

22,319

General

Dynamics

Corp.

2.25%,

11/15/2022

25,000

25,641

2.38%,

11/15/2024

25,000

26,446

3.50%,

5/15/2025

15,000

16,514

General

Electric

Co.

3.38%,

3/11/2024

25,000

26,870

3.45%,

5/15/2024

50,000

53,927

Honeywell

International,

Inc.

2.15%,

8/08/2022

70,000

71,591

1.35%,

6/01/2025

25,000

25,503

JB

Hunt

Transport

Services,

Inc.,

3.88%,

3/01/2026

25,000

27,827

John

Deere

Capital

Corp.

1.95%,

6/13/2022

65,000

66,216

2.15%,

9/08/2022

70,000

71,758

2.80%,

3/06/2023

50,000

52,377

2.65%,

6/24/2024

65,000

69,213

Lockheed

Martin

Corp.,

3.55%,

1/15/2026

50,000

55,501

Northrop

Grumman

Corp.,

2.93%,

1/15/2025

75,000

80,307

Otis

Worldwide

Corp.,

2.06%,

4/05/2025

25,000

25,987

Packaging

Corp.

of

America

4.50%,

11/01/2023

25,000

27,158

3.65%,

9/15/2024

30,000

32,597

Parker-Hannifin

Corp.,

3.50%,

9/15/2022

15,000

15,628

Raytheon

Technologies

Corp.,

3.20%,

3/15/2024

20,000

21,344

Republic

Services,

Inc.

2.50%,

8/15/2024

20,000

21,107

0.88%,

11/15/2025

25,000

24,716

Ryder

System,

Inc.

2.50%,

9/01/2024

50,000

52,569

3.35%,

9/01/2025

25,000

27,156

Stanley

Black

&

Decker,

Inc.,

4.00%,

3/15/2060

25,000

26,600

Union

Pacific

Corp.

4.16%,

7/15/2022

25,000

25,896

3.65%,

2/15/2024

32,000

34,458

3.15%,

3/01/2024

25,000

26,756

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Industrial

–

6.8%

(continued)

United

Parcel

Service,

Inc.

2.50%,

4/01/2023

50,000

52,027

2.20%,

9/01/2024

15,000

15,767

Vulcan

Materials

Co.,

4.50%,

4/01/2025

25,000

28,033

Waste

Management,

Inc.

2.90%,

9/15/2022

65,000

66,881

0.75%,

11/15/2025

25,000

24,718

Westinghouse

Air

Brake

Technologies

Corp.,

3.20%,

6/15/2025

50,000

53,324

WRKCo

,

Inc.

3.00%,

9/15/2024

65,000

69,167

3.75%,

3/15/2025

25,000

27,364

2,275,650

Technology

–

8.4%

Adobe,

Inc.,

1.70%,

2/01/2023

75,000

76,894

Analog

Devices,

Inc.,

2.95%,

4/01/2025

(a)

50,000

53,530

Apple,

Inc.

2.30%,

5/11/2022

75,000

76,445

1.70%,

9/11/2022

50,000

51,000

2.10%,

9/12/2022

50,000

51,228

2.40%,

1/13/2023

50,000

51,803

2.40%,

5/03/2023

10,000

10,418

0.75%,

5/11/2023

50,000

50,519

1.80%,

9/11/2024

100,000

104,153

2.50%,

2/09/2025

50,000

53,169

3.20%,

5/13/2025

50,000

54,707

0.55%,

8/20/2025

(a)

25,000

24,722

3.25%,

2/23/2026

50,000

54,939

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

3.63%,

1/15/2024

50,000

53,554

3.13%,

1/15/2025

30,000

32,015

Broadcom,

Inc.

3.63%,

10/15/2024

20,000

21,750

3.15%,

11/15/2025

25,000

26,788

Dell

International

LLC

/

EMC

Corp.,

4.00%,

7/15/2024

(b)

70,000

76,206

Electronic

Arts,

Inc.,

4.80%,

3/01/2026

20,000

23,137

Fidelity

National

Information

Services,

Inc.,

1.15%,

3/01/2026

35,000

34,648

Fiserv,

Inc.,

2.75%,

7/01/2024

110,000

116,731

Hewlett

Packard

Enterprise

Co.

4.40%,

10/15/2022

50,000

52,465

2.25%,

4/01/2023

75,000

77,263

1.45%,

4/01/2024

40,000

40,800

HP,

Inc.,

2.20%,

6/17/2025

(a)

20,000

20,820

Intel

Corp.

2.35%,

5/11/2022

70,000

71,331

3.40%,

3/25/2025

25,000

27,370

3.70%,

7/29/2025

60,000

66,565

International

Business

Machines

Corp.

3.38%,

8/01/2023

25,000

26,710

3.00%,

5/15/2024

150,000

160,970

Intuit,

Inc.,

0.95%,

7/15/2025

40,000

40,128

KLA

Corp.,

4.65%,

11/01/2024

35,000

39,171

LAM

Research

Corp.

3.80%,

3/15/2025

25,000

27,536

3.75%,

3/15/2026

25,000

27,925

78

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Technology

–

8.4%

(continued)

Leidos

,

Inc.,

2.95%,

5/15/2023

(b)

25,000

26,106

Micron

Technology,

Inc.,

2.50%,

4/24/2023

30,000

31,107

Microsoft

Corp.

2.65%,

11/03/2022

50,000

51,624

3.63%,

12/15/2023

75,000

80,986

2.70%,

2/12/2025

25,000

26,836

3.13%,

11/03/2025

50,000

54,722

NetApp,

Inc.,

1.88%,

6/22/2025

25,000

25,674

Oracle

Corp.

2.50%,

5/15/2022

75,000

76,428

3.63%,

7/15/2023

25,000

26,702

2.40%,

9/15/2023

60,000

62,422

3.40%,

7/08/2024

25,000

26,941

2.95%,

11/15/2024

50,000

53,450

2.50%,

4/01/2025

50,000

52,646

2.95%,

5/15/2025

25,000

26,710

1.65%,

3/25/2026

25,000

25,256

QUALCOMM,

Inc.

2.60%,

1/30/2023

50,000

51,916

2.90%,

5/20/2024

50,000

53,406

Roper

Technologies,

Inc.

3.65%,

9/15/2023

20,000

21,394

2.35%,

9/15/2024

70,000

73,525

Texas

Instruments,

Inc.,

1.85%,

5/15/2022

50,000

50,746

VMware,

Inc.,

2.95%,

8/21/2022

50,000

51,454

Xilinx,

Inc.,

2.95%,

6/01/2024

55,000

58,490

2,785,951

Utilities

–

5.1%

Ameren

Corp.,

2.50%,

9/15/2024

40,000

42,099

Atmos

Energy

Corp.,

0.63%,

3/09/2023

15,000

15,014

Avangrid

,

Inc.

3.15%,

12/01/2024

15,000

16,138

3.20%,

4/15/2025

20,000

21,572

Berkshire

Hathaway

Energy

Co.

3.75%,

11/15/2023

50,000

53,774

4.05%,

4/15/2025

25,000

27,893

Black

Hills

Corp.,

4.25%,

11/30/2023

10,000

10,808

CenterPoint

Energy

Resources

Corp.,

3.55%,

4/01/2023

20,000

21,136

CenterPoint

Energy,

Inc.,

2.50%,

9/01/2022

50,000

51,262

Connecticut

Light

And

Power

Co.

(The),

Series

A,

0.75%,

12/01/2025

20,000

19,707

Dominion

Energy

Gas

Holdings

LLC,

3.60%,

12/15/2024

50,000

54,427

Dominion

Energy,

Inc.

3.07%,

8/15/2024

(c)

60,000

63,999

5.75%,

10/01/2054

25,000

27,405

DTE

Energy

Co.

Series

B,

2.60%,

6/15/2022

50,000

51,150

Series

C,

2.53%,

10/01/2024

25,000

26,301

Duke

Energy

Carolinas

LLC,

3.05%,

3/15/2023

20,000

20,991

Duke

Energy

Corp.,

3.75%,

4/15/2024

50,000

54,089

Duke

Energy

Progress

LLC,

3.25%,

8/15/2025

50,000

54,418

Edison

International,

3.55%,

11/15/2024

45,000

48,462

Entergy

Gulf

States

Louisiana

LLC,

5.59%,

10/01/2024

50,000

57,799

Entergy

Louisiana

LLC,

0.62%,

11/17/2023

15,000

15,017

Evergy

Metro,

Inc.,

3.15%,

3/15/2023

25,000

26,118

Evergy

,

Inc.,

2.45%,

9/15/2024

25,000

26,242

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Utilities

–

5.1%

(continued)

Eversource

Energy,

Series

Q,

0.80%,

8/15/2025

25,000

24,596

Florida

Power

&

Light

Co.,

2.85%,

4/01/2025

25,000

26,795

Iberdrola

International

BV,

5.81%,

3/15/2025

35,000

40,765

Interstate

Power

And

Light

Co.,

3.25%,

12/01/2024

15,000

16,217

ITC

Holdings

Corp.,

2.70%,

11/15/2022

15,000

15,457

National

Fuel

Gas

Co.,

3.75%,

3/01/2023

25,000

26,164

National

Rural

Utilities

Cooperative

Finance

Corp.,

2.30%,

9/15/2022

65,000

66,554

NextEra

Energy

Capital

Holdings,

Inc.,

3.15%,

4/01/2024

85,000

91,020

NiSource,

Inc.,

0.95%,

8/15/2025

25,000

24,733

Oncor

Electric

Delivery

Co.

LLC,

2.75%,

6/01/2024

25,000

26,497

Pacific

Gas

and

Electric

Co.

1.75%,

6/16/2022

50,000

50,041

3.45%,

7/01/2025

50,000

52,996

3.15%,

1/01/2026

50,000

52,092

PECO

Energy

Co.,

2.38%,

9/15/2022

65,000

66,442

PPL

Capital

Funding,

Inc.,

3.50%,

12/01/2022

50,000

52,017

Public

Service

Electric

and

Gas

Co.,

0.95%,

3/15/2026

50,000

49,563

Public

Service

Enterprise

Group,

Inc.,

0.80%,

8/15/2025

25,000

24,585

Sempra

Energy

2.88%,

10/01/2022

20,000

20,557

2.90%,

2/01/2023

50,000

51,996

4.05%,

12/01/2023

10,000

10,782

Southern

California

Edison

Co.,

Series

D,

3.40%,

6/01/2023

20,000

21,084

Southern

Co.

(The),

Series

B,

4.00%,

1/15/2051

25,000

26,625

Virginia

Electric

and

Power

Co.,

Series

A,

3.10%,

5/15/2025

10,000

10,740

Wisconsin

Electric

Power

Co.,

2.05%,

12/15/2024

20,000

20,967

Xcel

Energy,

Inc.,

3.30%,

6/01/2025

30,000

32,438

1,707,544

Total

Corporate

Bonds

(cost

$32,579,179)

33,057,838

Shares

Investment

Companies

–

0.8%

Registered

Investment

Companies

–

0.8%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$270,977)

270,977

270,977

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.3%

Registered

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(d)(e)

(cost

$113,650)

113,650

113,650

Total

Investments

(cost

$32,963,806)

100.1%

33,442,465

Liabilities,

Less

Cash

and

Receivables

(0.1)%

(48,074)

Net

Assets

100.0%

33,394,391

79

(a)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$454,534

and

the

value

of

the

collateral

was

$465,859,

consisting

of

cash

collateral

of

$113,650

and

U.S.

Government

&

Agency

securities

valued

at

$352,209.

(b)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$211,800

or

0.63%

of

net

assets.

(c)

Step

coupon

bond.

The

interest

rate

represents

the

coupon

rate

at

which

the

bond

will

accrue

at

a

specified

future

date.

(d)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(e)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

306,188

2,212,314

(2,247,525)

—

—

270,977

0.8

16

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

109,920

1,025,107

(1,021,377)

—

—

113,650

0.3

165

2

Total

416,108

3,237,421

(3,268,902)

—

—

384,627

1.1

181

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financial

41.7

Consumer,

Non-cyclical

14.5

Technology

8.4

Consumer,

Cyclical

7.7

Energy

7.5

Industrial

6.8

Communications

5.8

Utilities

5.1

Basic

Materials

1.5

Registered

Investment

Companies

1.1

100.1

†

Based

on

net

assets.

80

STATEMENT

OF

INVESTMENTS

April

30,

2021

(Unaudited)

BNY

Mellon

High

Yield

Beta

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

Basic

Materials

–

4.6%

Alcoa

Nederland

Holding

BV,

5.50%,

12/15/2027

(a)

10,000

10,823

Allegheny

Ludlum

LLC,

6.95%,

12/15/2025

20,000

21,770

Allegheny

Technologies,

Inc.

7.88%,

8/15/2023

15,000

16,327

5.88%,

12/01/2027

(b)

18,000

19,020

Arcelormittal

SA

4.55%,

3/11/2026

55,000

60,998

4.25%,

7/16/2029

50,000

54,235

7.25%,

10/15/2039

20,000

28,180

7.00%,

3/01/2041

25,000

34,718

ArcelorMittal

SA,

3.60%,

7/16/2024

35,000

37,239

Arconic

Corp.

6.00%,

5/15/2025

(a)

20,000

21,388

6.13%,

2/15/2028

(a)

15,000

15,950

Ashland

LLC

4.75%,

8/15/2022

10,000

10,404

6.88%,

5/15/2043

10,000

12,576

Axalta

Coating

Systems

LLC,

3.38%,

2/15/2029

(a)

35,000

33,978

Baffinland

Iron

Mines

Corp.

/

Baffinland

Iron

Mines

LP,

8.75%,

7/15/2026

(a)

15,000

15,965

Big

River

Steel

LLC

/

Brs

Finance

Corp.,

6.63%,

1/31/2029

(a)

40,000

43,347

Carpenter

Technology

Corp.

4.45%,

3/01/2023

5,000

5,211

6.38%,

7/15/2028

15,000

16,399

CF

Industries,

Inc.

3.45%,

6/01/2023

20,000

20,844

5.15%,

3/15/2034

20,000

23,446

4.95%,

6/01/2043

15,000

17,471

5.38%,

3/15/2044

20,000

24,473

Chemours

Co.

(The)

7.00%,

5/15/2025

(b)

40,000

41,158

5.38%,

5/15/2027

(b)

13,000

13,928

5.75%,

11/15/2028

(a)

15,000

15,940

Clearwater

Paper

Corp.,

4.75%,

8/15/2028

(a)

5,000

5,044

Cleveland-Cliffs,

Inc.

5.75%,

3/01/2025

(b)

13,000

13,360

9.88%,

10/17/2025

(a)

17,000

19,958

6.75%,

3/15/2026

(a)

5,000

5,435

5.88%,

6/01/2027

(b)

20,000

20,964

4.63%,

3/01/2029

(a)(b)

15,000

15,272

6.25%,

10/01/2040

12,000

12,226

Commercial

Metals

Co.

4.88%,

5/15/2023

15,000

15,725

5.38%,

7/15/2027

10,000

10,638

3.88%,

2/15/2031

4,000

3,982

Compass

Minerals

International,

Inc.,

4.88%,

7/15/2024

(a)

22,000

22,744

Consolidated

Energy

Finance

SA

6.88%,

6/15/2025

(a)

30,000

30,090

6.50%,

5/15/2026

(a)

30,000

29,774

Cornerstone

Chemical

Co.,

6.75%,

8/15/2024

(a)

(b)

20,000

19,186

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp.,

9.25%,

6/15/2023

(a)

35,000

35,200

Element

Solutions,

Inc.,

3.88%,

9/01/2028

(a)

20,000

19,953

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Basic

Materials

–

4.6%

(continued)

FMG

Resources

(August

2006)

Pty

Ltd.

5.13%,

5/15/2024

(a)

34,000

36,997

4.50%,

9/15/2027

(a)

30,000

32,429

Freeport-McMoRan,

Inc.

3.88%,

3/15/2023

5,000

5,222

4.55%,

11/14/2024

5,000

5,464

5.00%,

9/01/2027

20,000

21,245

4.13%,

3/01/2028

15,000

15,803

4.38%,

8/01/2028

20,000

21,320

5.25%,

9/01/2029

15,000

16,633

4.25%,

3/01/2030

20,000

21,493

4.63%,

8/01/2030

(b)

30,000

33,043

5.40%,

11/14/2034

25,000

30,063

5.45%,

3/15/2043

35,000

42,740

GCP

Applied

Technologies,

Inc.,

5.50%,

4/15/2026

(a)

12,000

12,325

Gpd

Cos.,

Inc.,

10.13%,

4/01/2026

(a)

15,000

16,332

HB

Fuller

Co.

4.00%,

2/15/2027

10,000

10,334

4.25%,

10/15/2028

30,000

30,527

Hecla

Mining

Co.,

7.25%,

2/15/2028

17,000

18,598

Hexion,

Inc.,

7.88%,

7/15/2027

(a)(b)

15,000

16,152

INEOS

Group

Holdings

SA,

5.63%,

8/01/2024

(a)

13,000

13,090

Ineos

Quattro

Finance

2

PLC,

3.38%,

1/15/2026

(a)

15,000

15,000

Infrabuild

Australia

Pty

Ltd.,

12.00%,

10/01/2024

(a)(b)

5,000

5,052

Ingevity

Corp.

4.50%,

2/01/2026

(a)

11,000

11,233

3.88%,

11/01/2028

(a)

15,000

14,944

Innophos

Holdings,

Inc.,

9.38%,

2/15/2028

(a)

22,000

23,925

Joseph

T

Ryerson

&

Son,

Inc.,

8.50%,

8/01/2028

(a)

15,000

16,600

Jw

Aluminum

Continuous

Cast

Co.,

10.25%,

6/01/2026

(a)

15,000

15,831

Kaiser

Aluminum

Corp.

6.50%,

5/01/2025

(a)

20,000

21,271

4.63%,

3/01/2028

(a)

23,000

23,637

Kraton

Polymers

LLC

/

Kraton

Polymers

Capital

Corp.,

4.25%,

12/15/2025

(a)

35,000

35,526

Mercer

International,

Inc.,

5.50%,

1/15/2026

10,000

10,278

Methanex

Corp.

4.25%,

12/01/2024

10,000

10,538

5.25%,

12/15/2029

20,000

21,075

5.65%,

12/01/2044

25,000

25,435

Mineral

Resources

Ltd.,

8.13%,

5/01/2027

(a)

15,000

16,618

Minerals

Technologies,

Inc.,

5.00%,

7/01/2028

(a)

15,000

15,716

New

Gold,

Inc.,

7.50%,

7/15/2027

(a)

10,000

10,859

Novelis

Corp.

5.88%,

9/30/2026

(a)

35,000

36,515

4.75%,

1/30/2030

(a)

38,000

39,592

Nufarm

Australia

Ltd.

/

Nufarm

Americas,

Inc.,

5.75%,

4/30/2026

(a)

20,000

20,595

Olin

Corp.

5.50%,

8/15/2022

5,000

5,238

9.50%,

6/01/2025

(a)

10,000

12,538

5.13%,

9/15/2027

11,000

11,494

5.63%,

8/01/2029

3,000

3,249

5.00%,

2/01/2030

30,000

31,600

81

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Basic

Materials

–

4.6%

(continued)

PQ

Corp.,

5.75%,

12/15/2025

(a)

25,000

25,643

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp.,

7.25%,

4/01/2025

(a)

17,000

17,541

Rayonier

Am

Products,

Inc.

5.50%,

6/01/2024

(a)

10,000

9,775

7.63%,

1/15/2026

(a)

15,000

15,966

Schweitzer-Mauduit

International,

Inc.,

6.88%,

10/01/2026

(a)

17,000

18,032

Scih

Salt

Holdings,

Inc.,

4.88%,

5/01/2028

(a)

50,000

49,919

TPC

Group,

Inc.,

10.50%,

8/01/2024

(a)

25,000

23,365

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance,

Inc.,

5.38%,

9/01/2025

(a)

15,000

15,329

Tronox,

Inc.,

6.50%,

5/01/2025

(a)

10,000

10,679

U.S.

Steel

Corp.

6.88%,

8/15/2025

(b)

25,000

25,634

6.25%,

3/15/2026

(b)

15,000

15,328

6.88%,

3/01/2029

20,000

20,868

6.65%,

6/01/2037

25,000

25,563

Valvoline,

Inc.

4.25%,

2/15/2030

(a)

50,000

51,307

3.63%,

6/15/2031

(a)

10,000

9,776

WR

Grace

&

Co.-Conn,

5.63%,

10/01/2024

(a)

11,000

12,229

2,096,462

Communications

–

16.6%

Altice

Financing

SA

7.50%,

5/15/2026

(a)

45,000

46,763

5.00%,

1/15/2028

(a)

25,000

24,656

Altice

France

Holding

SA

10.50%,

5/15/2027

(a)

50,000

56,324

6.00%,

2/15/2028

(a)(b)

65,000

64,434

Altice

France

SA

7.38%,

5/01/2026

(a)

205,000

212,939

8.13%,

2/01/2027

(a)

70,000

76,789

5.50%,

1/15/2028

(a)

22,000

22,658

5.13%,

1/15/2029

(a)

25,000

25,063

Altice

France

SA/France,

5.13%,

7/15/2029

(a)

115,000

115,588

AMC

Networks,

Inc.

5.00%,

4/01/2024

8,000

8,113

4.75%,

8/01/2025

7,000

7,208

4.25%,

2/15/2029

30,000

29,569

Angi

Group

LLC,

3.88%,

8/15/2028

(a)(b)

10,000

9,932

Arches

Buyer,

Inc.

4.25%,

6/01/2028

(a)

20,000

19,903

6.13%,

12/01/2028

(a)

15,000

15,440

Avaya,

Inc.,

6.13%,

9/15/2028

(a)

30,000

31,916

Belo

Corp.

7.75%,

6/01/2027

13,000

15,346

7.25%,

9/15/2027

5,000

5,863

Block

Communications,

Inc.,

4.88%,

3/01/2028

(a)

15,000

15,307

C&W

Senior

Financing

Dac,

6.88%,

9/15/2027

(a)

25,000

26,599

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Communications

–

16.6%

(continued)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

5.13%,

5/01/2027

(a)

100,000

104,739

5.88%,

5/01/2027

(a)

10,000

10,332

5.00%,

2/01/2028

(a)

80,000

83,577

5.38%,

6/01/2029

(a)

45,000

48,819

4.75%,

3/01/2030

(a)

105,000

109,561

4.50%,

8/15/2030

(a)

135,000

137,604

4.25%,

2/01/2031

(a)

95,000

95,013

4.50%,

5/01/2032

(a)

85,000

85,874

Cengage

Learning,

Inc.,

9.50%,

6/15/2024

(a)

15,000

15,321

Cincinnati

Bell,

Inc.

7.00%,

7/15/2024

(a)

30,000

30,944

8.00%,

10/15/2025

(a)

15,000

15,907

Clear

Channel

International

BV,

6.63%,

8/01/2025

(a)

20,000

21,015

Clear

Channel

Worldwide

Holdings,

Inc.

9.25%,

2/15/2024

26,000

27,098

5.13%,

8/15/2027

(a)

21,000

21,321

Cogent

Communications

Group,

Inc.,

5.38%,

3/01/2022

(a)

15,000

15,404

CommScope

Technologies

LLC

6.00%,

6/15/2025

(a)

61,000

62,091

5.00%,

3/15/2027

(a)

40,000

39,591

Commscope,

Inc.

5.50%,

3/01/2024

(a)

25,000

25,774

6.00%,

3/01/2026

(a)

35,000

36,887

8.25%,

3/01/2027

(a)

21,000

22,491

7.13%,

7/01/2028

(a)

20,000

21,565

Connect

Finco

Sarl

/

Connect

US

Finco

LLC,

6.75%,

10/01/2026

(a)

75,000

78,221

Consolidated

Communications,

Inc.

5.00%,

10/01/2028

(a)

10,000

10,155

6.50%,

10/01/2028

(a)

20,000

21,546

CSC

Holdings

LLC

5.88%,

9/15/2022

17,000

17,882

5.25%,

6/01/2024

25,000

27,087

5.50%,

5/15/2026

(a)

50,000

51,412

5.50%,

4/15/2027

(a)

55,000

57,714

5.38%,

2/01/2028

(a)

26,000

27,373

6.50%,

2/01/2029

(a)

60,000

66,271

5.75%,

1/15/2030

(a)

70,000

74,460

4.13%,

12/01/2030

(a)

25,000

24,873

4.63%,

12/01/2030

(a)

90,000

87,995

3.38%,

2/15/2031

(a)

45,000

42,305

Cumulus

Media

New

Holdings,

Inc.,

6.75%,

7/01/2026

(a)(b)

15,000

15,454

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

5.38%,

8/15/2026

(a)

115,000

83,919

6.63%,

8/15/2027

(a)(b)

50,000

27,001

DISH

DBS

Corp.

5.88%,

7/15/2022

53,000

55,457

5.00%,

3/15/2023

47,000

49,154

5.88%,

11/15/2024

49,000

53,038

7.75%,

7/01/2026

50,000

57,639

7.38%,

7/01/2028

10,000

10,797

DKT

Finance

ApS,

9.38%,

6/17/2023

(a)

20,000

20,600

Embarq

Corp.,

8.00%,

6/01/2036

42,000

48,910

Endure

Digital,

Inc.,

6.00%,

2/15/2029

(a)

30,000

28,715

82

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Communications

–

16.6%

(continued)

Entercom

Media

Corp.,

6.50%,

5/01/2027

(a)(b)

11,000

11,355

EW

Scripps

Co.

(The),

5.13%,

5/15/2025

(a)

10,000

10,263

Frontier

Communications

Corp.

5.88%,

10/15/2027

(a)

30,000

31,884

5.00%,

5/01/2028

(a)

40,000

40,902

6.75%,

5/01/2029

(a)

25,000

26,350

Getty

Images,

Inc.,

9.75%,

3/01/2027

(a)

15,000

15,995

Go

Daddy

Operating

Co.

LLC

/

GD

Finance

Co.,

Inc.,

5.25%,

12/01/2027

(a)

17,000

17,828

Gray

Television,

Inc.

5.88%,

7/15/2026

(a)

2,000

2,075

7.00%,

5/15/2027

(a)

10,000

10,915

4.75%,

10/15/2030

(a)

25,000

24,980

Grubhub

Holdings,

Inc.,

5.50%,

7/01/2027

(a)

15,000

15,787

GTT

Communications,

Inc.,

7.88%,

12/31/2024

(a)

15,000

2,248

Houghton

Mifflin

Harcourt

Publishers,

Inc.,

9.00%,

2/15/2025

(a)

10,000

10,696

Hughes

Satellite

Systems

Corp.

5.25%,

8/01/2026

20,000

22,041

6.63%,

8/01/2026

20,000

22,161

iHeartcommunications,

Inc.,

5.25%,

8/15/2027

(a)

40,000

41,399

iHeartCommunications,

Inc.

6.38%,

5/01/2026

20,000

21,281

8.38%,

5/01/2027

68,000

72,906

Intrado

Corp.,

8.50%,

10/15/2025

(a)

40,000

40,675

Koninklijke

KPN

NV,

7.00%,

3/28/2073

(a)

30,000

31,960

Lamar

Media

Corp.

3.75%,

2/15/2028

35,000

35,301

4.88%,

1/15/2029

10,000

10,553

4.00%,

2/15/2030

30,000

30,304

3.63%,

1/15/2031

(a)

15,000

14,613

LCPR

Senior

Secured

Financing

DAC,

6.75%,

10/15/2027

(a)

25,000

26,870

Level

3

Financing,

Inc.

4.63%,

9/15/2027

(a)

30,000

30,924

4.25%,

7/01/2028

(a)

35,000

35,248

3.63%,

1/15/2029

(a)

75,000

72,721

Liberty

Interactive

LLC

8.50%,

7/15/2029

5,000

5,723

8.25%,

2/01/2030

25,000

28,805

Ligado

Networks

LLC,

15.50%,

11/01/2023

(a)(c)

70,000

68,947

LogMeIn,

Inc.,

5.50%,

9/01/2027

(a)

40,000

41,644

Lumen

Technologies,

Inc.

Series

T,

5.80%,

3/15/2022

15,000

15,496

Series

W,

6.75%,

12/01/2023

14,000

15,490

Series

Y,

7.50%,

4/01/2024

42,000

46,976

5.63%,

4/01/2025

15,000

16,197

5.13%,

12/15/2026

(a)(b)

16,000

16,776

4.00%,

2/15/2027

(a)

41,000

41,713

Series

G,

6.88%,

1/15/2028

5,000

5,647

Series

P,

7.60%,

9/15/2039

10,000

11,486

Series

U,

7.65%,

3/15/2042

10,000

11,423

Match

Group

Holdings

II

LLC

5.00%,

12/15/2027

(a)

13,000

13,705

4.63%,

6/01/2028

(a)

30,000

30,968

5.63%,

2/15/2029

(a)

10,000

10,825

4.13%,

8/01/2030

(a)

15,000

15,062

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Communications

–

16.6%

(continued)

McGraw-Hill

LLC

/

McGraw-Hill

Global

Education

Finance,

Inc.,

8.00%,

11/30/2024

(a)

20,000

20,323

MDC

Partners,

Inc.,

7.50%,

5/01/2024

(a)(d)

13,000

13,218

Meredith

Corp.

6.50%,

7/01/2025

(a)

10,000

10,711

6.88%,

2/01/2026

(b)

25,000

25,681

Midcontinent

Communications

/

Midcontinent

Finance

Corp.,

5.38%,

8/15/2027

(a)

10,000

10,438

National

CineMedia

LLC,

5.88%,

4/15/2028

(a)(b)

21,000

20,149

Netflix,

Inc.

5.75%,

3/01/2024

10,000

11,231

5.88%,

2/15/2025

35,000

40,471

4.38%,

11/15/2026

(b)

15,000

16,921

4.88%,

4/15/2028

25,000

28,786

5.88%,

11/15/2028

50,000

60,866

6.38%,

5/15/2029

35,000

44,100

5.38%,

11/15/2029

(a)

40,000

47,513

4.88%,

6/15/2030

(a)

41,000

47,565

Nexstar

Broadcasting,

Inc.

5.63%,

7/15/2027

(a)

50,000

52,814

4.75%,

11/01/2028

(a)(b)

45,000

45,812

Nokia

OYJ

3.38%,

6/12/2022

13,000

13,333

4.38%,

6/12/2027

8,000

8,756

6.63%,

5/15/2039

10,000

12,853

NortonLifeLock,

Inc.

3.95%,

6/15/2022

20,000

20,422

5.00%,

4/15/2025

(a)

50,000

50,642

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

5.00%,

8/15/2027

(a)

20,000

20,671

4.25%,

1/15/2029

(a)

15,000

14,875

4.63%,

3/15/2030

(a)

25,000

24,842

Photo

Holdings

Merger

Sub,

Inc.,

8.50%,

10/01/2026

(a)

30,000

32,875

Plantronics,

Inc.,

5.50%,

5/31/2023

(a)(b)

12,000

12,010

Qualitytech

LP

/

Qts

Finance

Corp.,

3.88%,

10/01/2028

(a)

15,000

15,135

Quebecor

Media,

Inc.,

5.75%,

1/15/2023

35,000

37,386

Qwest

Corp.,

7.25%,

9/15/2025

10,000

11,795

Radiate

Holdco

LLC

/

Radiate

Finance,

Inc.

4.50%,

9/15/2026

(a)

25,000

25,437

6.50%,

9/15/2028

(a)

30,000

31,303

Salem

Media

Group,

Inc.,

6.75%,

6/01/2024

(a)(b)

20,000

19,850

Scripps

Escrow

II,

Inc.

3.88%,

1/15/2029

(a)

15,000

14,892

5.38%,

1/15/2031

(a)

30,000

30,429

Scripps

Escrow,

Inc.,

5.88%,

7/15/2027

(a)

25,000

26,287

Sinclair

Television

Group,

Inc.

5.88%,

3/15/2026

(a)

12,000

12,356

5.13%,

2/15/2027

(a)

26,000

25,759

5.50%,

3/01/2030

(a)

6,000

5,972

Sirius

XM

Radio,

Inc.

3.88%,

8/01/2022

(a)

20,000

20,098

4.63%,

7/15/2024

(a)

55,000

56,584

5.38%,

7/15/2026

(a)

30,000

30,980

5.00%,

8/01/2027

(a)

20,000

20,934

5.50%,

7/01/2029

(a)

45,000

48,651

4.13%,

7/01/2030

(a)

30,000

30,016

83

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Communications

–

16.6%

(continued)

Sprint

Capital

Corp.

6.88%,

11/15/2028

44,000

55,409

8.75%,

3/15/2032

45,000

66,689

Sprint

Communications,

Inc.,

6.00%,

11/15/2022

64,000

68,358

Sprint

Corp.

7.88%,

9/15/2023

120,000

136,902

7.13%,

6/15/2024

70,000

80,874

7.63%,

2/15/2025

40,000

47,606

7.63%,

3/01/2026

45,000

55,187

Switch

Ltd.,

3.75%,

9/15/2028

(a)

15,000

14,905

TEGNA,

Inc.

4.75%,

3/15/2026

(a)

30,000

31,967

4.63%,

3/15/2028

23,000

23,464

5.00%,

9/15/2029

31,000

32,212

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

60,000

70,554

6.00%,

9/30/2034

30,000

33,798

7.20%,

7/18/2036

30,000

37,303

7.72%,

6/04/2038

10,000

13,106

Telecom

Italia

SpA,

5.30%,

5/30/2024

(a)

40,000

43,658

Telesat

Canada

/

Telesat

LLC

4.88%,

6/01/2027

(a)

13,000

12,733

6.50%,

10/15/2027

(a)

35,000

34,383

Terrier

Media

Buyer,

Inc.,

8.88%,

12/15/2027

(a)

30,000

32,555

T-Mobile

USA,

Inc.

6.00%,

4/15/2024

5,000

5,036

5.13%,

4/15/2025

25,000

25,423

4.50%,

2/01/2026

10,000

10,247

2.25%,

2/15/2026

50,000

50,342

5.38%,

4/15/2027

(b)

25,000

26,516

4.75%,

2/01/2028

35,000

37,398

2.63%,

2/15/2029

50,000

48,707

3.38%,

4/15/2029

30,000

30,527

2.88%,

2/15/2031

40,000

39,003

Trilogy

International

Partners

LLC

/

Trilogy

International

Finance,

Inc.,

8.88%,

5/01/2022

(a)(b)

10,000

9,854

Tripadvisor,

Inc.,

7.00%,

7/15/2025

(a)

15,000

16,206

Twitter,

Inc.,

3.88%,

12/15/2027

(a)

20,000

21,045

U.S.

Cellular

Corp.,

6.70%,

12/15/2033

25,000

31,230

Uber

Technologies,

Inc.

7.50%,

5/15/2025

(a)

25,000

27,018

8.00%,

11/01/2026

(a)

70,000

75,757

7.50%,

9/15/2027

(a)

62,000

68,505

6.25%,

1/15/2028

(a)(b)

15,000

16,282

Univision

Communications,

Inc.

5.13%,

2/15/2025

(a)

53,000

53,878

9.50%,

5/01/2025

(a)

15,000

16,682

6.63%,

6/01/2027

(a)

40,000

43,358

UPC

Holding

BV,

5.50%,

1/15/2028

(a)

15,000

15,600

Veon

Holdings

BV,

4.00%,

4/09/2025

(a)

75,000

78,816

ViacomCBS,

Inc.,

6.25%,

2/28/2057

27,000

30,126

ViaSat,

Inc.

5.63%,

9/15/2025

(a)

35,000

35,809

5.63%,

4/15/2027

(a)

12,000

12,603

6.50%,

7/15/2028

(a)(b)

25,000

26,342

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Communications

–

16.6%

(continued)

Videotron

Ltd.

5.00%,

7/15/2022

12,000

12,494

5.38%,

6/15/2024

(a)

30,000

33,003

Virgin

Media

Finance

PLC,

5.00%,

7/15/2030

(a)

30,000

29,925

Virgin

Media

Secured

Finance

PLC

5.50%,

8/15/2026

(a)

5,000

5,193

5.50%,

5/15/2029

(a)

25,000

26,702

4.50%,

8/15/2030

(a)

25,000

25,182

Vmed

O2

UK

Financing

I

PLC,

4.25%,

1/31/2031

(a)

50,000

48,900

Vodafone

Group

PLC,

7.00%,

4/04/2079

81,000

98,811

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp.,

7.75%,

8/15/2028

(a)

30,000

31,241

Zayo

Group

Holdings,

Inc.

4.00%,

3/01/2027

(a)

41,000

40,704

6.13%,

3/01/2028

(a)

38,000

39,222

Ziggo

Bond

Co.

BV,

6.00%,

1/15/2027

(a)

25,000

26,235

Ziggo

BV

5.50%,

1/15/2027

(a)

100,000

103,968

4.88%,

1/15/2030

(a)

30,000

30,824

7,494,553

Consumer,

Cyclical

–

22.6%

1011778

BC

ULC

/

New

Red

Finance,

Inc.

4.25%,

5/15/2024

(a)

20,000

20,267

5.75%,

4/15/2025

(a)

15,000

15,921

3.88%,

1/15/2028

(a)

25,000

25,296

4.38%,

1/15/2028

(a)

20,000

20,271

3.50%,

2/15/2029

(a)

20,000

19,602

4.00%,

10/15/2030

(a)

60,000

58,542

Abercrombie

&

Fitch

Management

Co.,

8.75%,

7/15/2025

(a)

10,000

11,081

Adient

Global

Holdings

Ltd.,

4.88%,

8/15/2026

(a)(b)

20,000

20,502

Adient

US

LLC,

9.00%,

4/15/2025

(a)

30,000

33,246

Affinity

Gaming,

6.88%,

12/15/2027

(a)

15,000

15,929

Allen

Media

LLC

/

Allen

Media

Co.-Issuer,

Inc.,

10.50%,

2/15/2028

(a)

5,000

5,334

Allison

Transmission,

Inc.

4.75%,

10/01/2027

(a)

10,000

10,494

5.88%,

6/01/2029

(a)

15,000

16,219

3.75%,

1/30/2031

(a)

20,000

19,301

AMC

Entertainment

Holdings,

Inc.,

10.50%,

4/24/2026

(a)

5,000

5,286

American

Airlines

Group,

Inc.

5.00%,

6/01/2022

(a)(b)

25,000

24,812

3.75%,

3/01/2025

(a)(b)

7,000

6,155

American

Airlines

Pass-Through

Trust

Series

2013-2,

,

Class

A4.95%,

1/15/2023

42,224

42,472

Series

2013-1,

,

Class

A4.00%,

7/15/2025

112,643

104,071

Series

2014-1,

,

Class

A3.70%,

10/01/2026

84,624

83,774

Series

2015-1,

,

Class

A3.38%,

5/01/2027

72,694

71,056

Series

2016-1,

,

Class

A4.10%,

1/15/2028

31,425

30,916

Series

2016-2,

,

Class

A3.65%,

6/15/2028

115,759

110,957

American

Airlines,

Inc.,

11.75%,

7/15/2025

(a)

45,000

56,474

American

Airlines,

Inc./Aadvantage

Loyalty

Ip

Ltd.,

5.50%,

4/20/2026

(a)

40,000

42,001

84

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

American

Axle

&

Manufacturing,

Inc.

6.25%,

4/01/2025

(b)

15,000

15,537

6.25%,

3/15/2026

10,000

10,277

6.50%,

4/01/2027

(b)

30,000

31,688

6.88%,

7/01/2028

(b)

15,000

16,028

American

Builders

&

Contractors

Supply

Co.,

Inc.

5.88%,

5/15/2026

(a)

30,000

30,956

4.00%,

1/15/2028

(a)

45,000

45,868

Aramark

Services,

Inc.

5.00%,

4/01/2025

(a)

30,000

30,795

6.38%,

5/01/2025

(a)

35,000

37,229

4.75%,

6/01/2026

15,000

15,383

5.00%,

2/01/2028

(a)

46,000

48,133

Arrow

Bidco

LLC,

9.50%,

3/15/2024

(a)

10,000

9,989

Asbury

Automotive

Group,

Inc.

4.50%,

3/01/2028

10,000

10,329

4.75%,

3/01/2030

11,000

11,495

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

6.75%,

8/01/2025

(a)

25,000

26,010

9.88%,

4/01/2027

(a)

5,000

5,686

6.63%,

1/15/2028

(a)

5,000

5,380

Aston

Martin

Capital

Holdings

Ltd.,

10.50%,

11/30/2025

(a)

50,000

54,445

Avient

Corp.

5.25%,

3/15/2023

3,000

3,231

5.75%,

5/15/2025

(a)

20,000

21,133

Bally's

Corp.,

6.75%,

6/01/2027

(a)

15,000

15,972

Beacon

Roofing

Supply,

Inc.

4.88%,

11/01/2025

(a)

17,000

17,439

4.50%,

11/15/2026

(a)

13,000

13,478

Beazer

Homes

USA,

Inc.,

5.88%,

10/15/2027

10,000

10,565

Bed

Bath

&

Beyond,

Inc.

3.75%,

8/01/2024

7,000

7,193

4.92%,

8/01/2034

(b)

9,000

8,408

5.17%,

8/01/2044

5,000

4,604

Boyd

Gaming

Corp.

8.63%,

6/01/2025

(a)

15,000

16,610

6.38%,

4/01/2026

20,000

20,652

6.00%,

8/15/2026

20,000

20,739

4.75%,

12/01/2027

15,000

15,375

Boyne

USA,

Inc.,

7.25%,

5/01/2025

(a)

15,000

15,568

Brinker

International,

Inc.

3.88%,

5/15/2023

20,000

20,456

5.00%,

10/01/2024

(a)

10,000

10,472

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential

US

Corp.

6.38%,

5/15/2025

(a)

25,000

25,595

6.25%,

9/15/2027

(a)

35,000

37,071

4.88%,

2/15/2030

(a)

10,000

10,002

Burlington

Coat

Factory

Warehouse

Corp.,

6.25%,

4/15/2025

(a)

20,000

21,288

Caesars

Entertainment,

Inc.

6.25%,

7/01/2025

(a)

100,000

106,345

8.13%,

7/01/2027

(a)(b)

45,000

50,019

Caesars

Resort

Collection

LLC

/

CRC

Finco,

Inc.

5.75%,

7/01/2025

(a)

25,000

26,342

5.25%,

10/15/2025

(a)

42,000

42,364

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

Caleres,

Inc.,

6.25%,

8/15/2023

6,000

6,020

Carnival

Corp.

11.50%,

4/01/2023

(a)

110,000

126,337

10.50%,

2/01/2026

(a)

45,000

53,114

7.63%,

3/01/2026

(a)

25,000

27,379

5.75%,

3/01/2027

(a)

130,000

137,209

9.88%,

8/01/2027

(a)

45,000

52,953

6.65%,

1/15/2028

20,000

21,419

Carvana

Co.

5.63%,

10/01/2025

(a)

35,000

36,070

5.88%,

10/01/2028

(a)

20,000

20,760

Cd&r

Smokey

Buyer,

Inc.,

6.75%,

7/15/2025

(a)

15,000

16,026

Cedar

Fair

LP,

5.25%,

7/15/2029

15,000

15,414

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.,

5.38%,

6/01/2024

15,000

15,131

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.

/

Millennium

Op,

5.50%,

5/01/2025

(a)

75,000

78,731

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.

/

Millennium

Operations

LLC

5.38%,

4/15/2027

30,000

30,977

6.50%,

10/01/2028

(a)

5,000

5,369

Century

Communities,

Inc.

5.88%,

7/15/2025

17,000

17,649

6.75%,

6/01/2027

16,000

17,245

Churchill

Downs,

Inc.

5.50%,

4/01/2027

(a)

15,000

15,592

4.75%,

1/15/2028

(a)

15,000

15,454

Cinemark

USA,

Inc.,

4.88%,

6/01/2023

15,000

14,981

Clarios

Global

LP,

6.75%,

5/15/2025

(a)

15,000

16,101

Clarios

Global

LP

/

Clarios

US

Finance

Co.

6.25%,

5/15/2026

(a)

45,000

47,761

8.50%,

5/15/2027

(a)

50,000

53,979

Constellation

Merger

Sub,

Inc.,

8.50%,

9/15/2025

(a)

10,000

9,708

Cooper-Standard

Automotive,

Inc.,

5.63%,

11/15/2026

(a)

30,000

26,122

Core

&

Main

Holdings

LP,

8.63%,

9/15/2024

(a)(c)

10,000

10,242

Core

&

Main

LP,

6.13%,

8/15/2025

(a)

5,000

5,114

Dana

Financing

Luxembourg

Sarl

5.75%,

4/15/2025

(a)

7,000

7,224

6.50%,

6/01/2026

(a)

7,000

7,258

Dave

&

Buster's,

Inc.,

7.63%,

11/01/2025

(a)(b)

15,000

16,213

Dealer

Tire

LLC

/

Dt

Issuer

LLC,

8.00%,

2/01/2028

(a)

15,000

15,878

Delta

Air

Lines,

Inc.

3.80%,

4/19/2023

20,000

20,680

2.90%,

10/28/2024

65,000

65,584

7.38%,

1/15/2026

30,000

35,169

4.38%,

4/19/2028

20,000

21,125

3.75%,

10/28/2029

20,000

19,904

Diamond

Resorts

International,

Inc.

7.75%,

9/01/2023

(a)

10,000

10,402

10.75%,

9/01/2024

(a)

15,000

15,869

Downstream

Development

Authority

of

The

Quapaw

Tribe

of

Oklahoma,

10.50%,

2/15/2023

(a)

10,000

10,407

85

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

eG

Global

Finance

PLC,

6.75%,

2/07/2025

(a)

22,000

22,648

Ferrellgas

LP

/

Ferrellgas

Finance

Corp.,

5.38%,

4/01/2026

(a)

145,000

143,370

FirstCash,

Inc.,

4.63%,

9/01/2028

(a)

15,000

15,484

Ford

Holdings

LLC,

9.30%,

3/01/2030

5,000

6,681

Ford

Motor

Co.

8.50%,

4/21/2023

90,000

100,802

9.00%,

4/22/2025

115,000

140,483

7.13%,

11/15/2025

25,000

28,916

4.35%,

12/08/2026

50,000

52,853

6.63%,

10/01/2028

30,000

35,248

6.38%,

2/01/2029

10,000

11,419

9.63%,

4/22/2030

20,000

28,056

7.45%,

7/16/2031

72,000

92,595

4.75%,

1/15/2043

60,000

60,623

7.40%,

11/01/2046

10,000

12,563

5.29%,

12/08/2046

35,000

37,034

9.98%,

2/15/2047

5,000

7,548

Ford

Motor

Credit

Co.

LLC

2.98%,

8/03/2022

20,000

20,285

4.25%,

9/20/2022

10,000

10,326

3.55%,

10/07/2022

15,000

15,376

3.35%,

11/01/2022

40,000

40,912

3.09%,

1/09/2023

30,000

30,601

4.14%,

2/15/2023

35,000

36,314

3.10%,

5/04/2023

20,000

20,440

4.38%,

8/06/2023

10,000

10,552

3.37%,

11/17/2023

10,000

10,321

3.81%,

1/09/2024

20,000

20,750

5.58%,

3/18/2024

50,000

54,501

3.66%,

9/08/2024

35,000

36,440

4.06%,

11/01/2024

40,000

42,106

4.69%,

6/09/2025

40,000

42,999

5.13%,

6/16/2025

75,000

81,944

4.13%,

8/04/2025

50,000

52,713

4.39%,

1/08/2026

25,000

26,693

4.54%,

8/01/2026

15,000

16,094

4.27%,

1/09/2027

20,000

21,106

4.13%,

8/17/2027

45,000

47,046

3.82%,

11/02/2027

35,000

36,006

5.11%,

5/03/2029

65,000

70,976

4.00%,

11/13/2030

25,000

25,518

Forestar

Group,

Inc.

8.00%,

4/15/2024

(a)

13,000

13,528

5.00%,

3/01/2028

(a)

5,000

5,204

Gap,

Inc.

(The)

8.63%,

5/15/2025

(a)

21,000

23,281

8.88%,

5/15/2027

(a)

40,000

46,800

Gateway

Casinos

&

Entertainment

Ltd.,

8.25%,

3/01/2024

(a)

2,000

1,930

G-III

Apparel

Group

Ltd.,

7.88%,

8/15/2025

(a)

10,000

10,859

Golden

Nugget,

Inc.

6.75%,

10/15/2024

(a)

35,000

35,445

8.75%,

10/01/2025

(a)

35,000

36,771

Goodyear

Tire

&

Rubber

Co.

(The)

9.50%,

5/31/2025

20,000

22,537

5.00%,

5/31/2026

(b)

10,000

10,252

4.88%,

3/15/2027

15,000

15,663

7.00%,

3/15/2028

5,000

5,600

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

H&E

Equipment

Services,

Inc.,

3.88%,

12/15/2028

(a)

30,000

29,412

Hanesbrands,

Inc.

4.63%,

5/15/2024

(a)

23,000

24,252

5.38%,

5/15/2025

(a)

15,000

15,778

4.88%,

5/15/2026

(a)

5,000

5,361

Hilton

Domestic

Operating

Co.,

Inc.

5.38%,

5/01/2025

(a)

15,000

15,781

5.75%,

5/01/2028

(a)

15,000

16,138

3.75%,

5/01/2029

(a)

20,000

20,099

4.88%,

1/15/2030

30,000

31,942

4.00%,

5/01/2031

(a)

20,000

20,244

3.63%,

2/15/2032

(a)

60,000

59,215

Hilton

Grand

Vacations

Borrower

LLC

/

Hilton

Grand

Vacations

Borrower,

Inc.,

6.13%,

12/01/2024

28,000

29,372

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp.,

4.88%,

4/01/2027

30,000

31,196

IAA,

Inc.,

5.50%,

6/15/2027

(a)

22,000

23,130

IHO

Verwaltungs

GmbH

4.75%,

9/15/2026

(a)(c)

25,000

25,574

6.00%,

5/15/2027

(a)(c)

20,000

21,091

6.38%,

5/15/2029

(a)(c)

25,000

27,390

Installed

Building

Products,

Inc.,

5.75%,

2/01/2028

(a)

20,000

21,050

International

Game

Technology

PLC

6.50%,

2/15/2025

(a)

23,000

25,456

6.25%,

1/15/2027

(a)

10,000

11,224

5.25%,

1/15/2029

(a)

25,000

26,515

IRB

Holding

Corp.

7.00%,

6/15/2025

(a)

25,000

26,936

6.75%,

2/15/2026

(a)

15,000

15,533

Jacobs

Entertainment,

Inc.,

7.88%,

2/01/2024

(a)

30,000

31,275

Jaguar

Land

Rover

Automotive

PLC

5.63%,

2/01/2023

(a)(b)

16,000

16,053

5.88%,

1/15/2028

(a)

29,740

30,220

JB

Poindexter

&

Co.,

Inc.,

7.13%,

4/15/2026

(a)

15,000

15,838

K

Hovnanian

Enterprises,

Inc.,

10.50%,

2/15/2026

(a)

10,000

10,900

KAR

Auction

Services,

Inc.,

5.13%,

6/01/2025

(a)

(b)

25,000

25,313

KB

Home

7.50%,

9/15/2022

8,000

8,678

7.63%,

5/15/2023

21,000

22,904

6.88%,

6/15/2027

10,000

11,865

4.80%,

11/15/2029

11,000

11,900

KFC

Holding

Co/Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC,

4.75%,

6/01/2027

(a)

20,000

21,015

L

Brands,

Inc.

5.63%,

10/15/2023

5,000

5,433

9.38%,

7/01/2025

(a)

5,000

6,338

6.69%,

1/15/2027

5,000

5,790

5.25%,

2/01/2028

25,000

27,400

7.50%,

6/15/2029

15,000

17,392

6.88%,

11/01/2035

30,000

36,378

6.75%,

7/01/2036

15,000

18,098

7.60%,

7/15/2037

4,000

4,795

Lbm

Acquisition

LLC,

6.25%,

1/15/2029

(a)

15,000

15,374

Levi

Strauss

&

Co.,

3.50%,

3/01/2031

(a)

25,000

24,895

86

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

LGI

Homes,

Inc.,

6.88%,

7/15/2026

(a)

17,000

17,737

Life

Time,

Inc.,

5.75%,

1/15/2026

(a)

40,000

41,442

Lithia

Motors,

Inc.

5.25%,

8/01/2025

(a)

9,000

9,309

4.63%,

12/15/2027

(a)

7,000

7,351

4.38%,

1/15/2031

(a)

30,000

31,653

Live

Nation

Entertainment,

Inc.

4.88%,

11/01/2024

(a)

35,000

35,657

5.63%,

3/15/2026

(a)

26,000

27,015

6.50%,

5/15/2027

(a)

10,000

11,102

4.75%,

10/15/2027

(a)

5,000

5,046

3.75%,

1/15/2028

(a)

15,000

14,938

M/I

Homes,

Inc.

5.63%,

8/01/2025

10,000

10,369

4.95%,

2/01/2028

8,000

8,416

Macy's

Retail

Holdings

LLC

2.88%,

2/15/2023

19,000

19,010

3.63%,

6/01/2024

(b)

5,000

5,055

5.88%,

4/01/2029

(a)(b)

15,000

15,379

6.38%,

3/15/2037

10,000

9,823

5.13%,

1/15/2042

10,000

8,688

4.30%,

2/15/2043

25,000

19,577

Marriott

Ownership

Resorts,

Inc.

6.13%,

9/15/2025

(a)

10,000

10,614

6.50%,

9/15/2026

35,000

36,551

Mattamy

Group

Corp.

5.25%,

12/15/2027

(a)

15,000

15,796

4.63%,

3/01/2030

(a)

18,000

18,279

Mattel,

Inc.

3.15%,

3/15/2023

37,000

37,909

6.75%,

12/31/2025

(a)

24,000

25,236

5.88%,

12/15/2027

(a)

20,000

21,968

6.20%,

10/01/2040

15,000

18,204

5.45%,

11/01/2041

5,000

5,715

Melco

Resorts

Finance

Ltd.

5.75%,

7/21/2028

(a)

15,000

16,097

5.38%,

12/04/2029

(a)

90,000

95,692

Meritage

Homes

Corp.,

6.00%,

6/01/2025

27,000

30,733

Meritor,

Inc.

6.25%,

6/01/2025

(a)

25,000

26,783

4.50%,

12/15/2028

(a)

10,000

10,132

Merlin

Entertainments

Ltd.,

5.75%,

6/15/2026

(a)

25,000

26,501

MGM

China

Holdings

Ltd.,

5.38%,

5/15/2024

(a)

35,000

35,998

MGM

Resorts

International

6.00%,

3/15/2023

23,000

24,623

6.75%,

5/01/2025

20,000

21,452

5.75%,

6/15/2025

20,000

22,025

4.63%,

9/01/2026

10,000

10,532

5.50%,

4/15/2027

15,000

16,379

4.75%,

10/15/2028

15,000

15,835

Michael

Kors

USA,

Inc.,

4.50%,

11/01/2024

(a)

30,000

31,818

Mohegan

Gaming

&

Entertainment

7.88%,

10/15/2024

(a)(b)

30,000

31,303

8.00%,

2/01/2026

(a)

45,000

45,680

Murphy

Oil

USA,

Inc.

5.63%,

5/01/2027

17,000

17,896

4.75%,

9/15/2029

20,000

21,106

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

Navistar

International

Corp.,

9.50%,

5/01/2025

(a)

25,000

27,129

NCL

Corp.

Ltd.

12.25%,

5/15/2024

(a)

20,000

24,393

3.63%,

12/15/2024

(a)

40,000

38,288

10.25%,

2/01/2026

(a)

30,000

35,355

Newell

Brands,

Inc.

4.00%,

6/15/2022

5,000

5,136

4.35%,

4/01/2023

11,000

11,585

4.88%,

6/01/2025

30,000

33,232

4.70%,

4/01/2026

70,000

77,975

5.88%,

4/01/2036

11,000

13,658

6.00%,

4/01/2046

31,000

39,629

Peninsula

Pacific

Entertainment

LLC

/

Peninsula

Pacific

Entertainment

Finance

In,

8.50%,

11/15/2027

(a)

25,000

26,577

Penn

National

Gaming,

Inc.,

5.63%,

1/15/2027

(a)

15,000

15,589

Penske

Automotive

Group,

Inc.

3.50%,

9/01/2025

15,000

15,375

5.50%,

5/15/2026

(b)

31,000

31,995

Performance

Food

Group,

Inc.

5.50%,

6/01/2024

(a)

15,000

15,019

5.50%,

10/15/2027

(a)

20,000

21,065

Petsmart,

Inc.

/

Petsmart

Finance

Corp.

4.75%,

2/15/2028

(a)

75,000

77,299

7.75%,

2/15/2029

(a)

55,000

59,654

Picasso

Finance

Sub,

Inc.,

6.13%,

6/15/2025

(a)

33,000

35,098

Pm

General

Purchaser

LLC,

9.50%,

10/01/2028

(a)

15,000

16,504

Powdr

Corp.,

6.00%,

8/01/2025

(a)

10,000

10,582

QVC,

Inc.

4.38%,

3/15/2023

35,000

36,926

4.85%,

4/01/2024

20,000

21,705

4.45%,

2/15/2025

20,000

21,317

4.75%,

2/15/2027

30,000

31,800

4.38%,

9/01/2028

15,000

15,370

5.45%,

8/15/2034

25,000

25,656

5.95%,

3/15/2043

20,000

19,950

Resideo

Funding,

Inc.,

6.13%,

11/01/2026

(a)

8,000

8,451

Rite

Aid

Corp.

7.50%,

7/01/2025

(a)

30,000

31,079

8.00%,

11/15/2026

(a)

25,000

25,964

7.70%,

2/15/2027

(b)

10,000

9,766

Royal

Caribbean

Cruises

Ltd.

5.25%,

11/15/2022

60,000

61,803

10.88%,

6/01/2023

(a)

70,000

80,349

9.13%,

6/15/2023

(a)

20,000

22,058

11.50%,

6/01/2025

(a)

60,000

69,527

7.50%,

10/15/2027

35,000

41,276

3.70%,

3/15/2028

(b)

20,000

18,993

5.50%,

4/01/2028

(a)

40,000

41,949

Sally

Holdings

LLC

/

Sally

Capital,

Inc.,

8.75%,

4/30/2025

(a)

10,000

11,059

Scientific

Games

International,

Inc.

5.00%,

10/15/2025

(a)

17,000

17,556

8.25%,

3/15/2026

(a)

25,000

27,011

7.00%,

5/15/2028

(a)

36,000

38,816

7.25%,

11/15/2029

(a)

10,000

11,011

87

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

Scotts

Miracle-GRO

Co.

(The)

5.25%,

12/15/2026

10,000

10,484

4.50%,

10/15/2029

15,000

15,749

Seaworld

Parks

&

Entertainment,

Inc.,

9.50%,

8/01/2025

(a)

40,000

43,423

Shea

Homes

LP

/

Shea

Homes

Funding

Corp.,

4.75%,

2/15/2028

(a)

20,000

20,411

Silversea

Cruise

Finance

Ltd.,

7.25%,

2/01/2025

(a)

40,000

41,385

Six

Flags

Entertainment

Corp.

4.88%,

7/31/2024

(a)

35,000

35,364

5.50%,

4/15/2027

(a)(b)

30,000

31,062

Six

Flags

Theme

Parks,

Inc.,

7.00%,

7/01/2025

(a)

15,000

16,178

Specialty

Building

Products

Holdings

LLC

/

Sbp

Finance

Corp.,

6.38%,

9/30/2026

(a)

20,000

21,073

Speedway

Motorsports

LLC

/

Speedway

Funding

II,

Inc.,

4.88%,

11/01/2027

(a)

11,000

11,036

Spirit

Loyalty

Cayman

Ltd.

/

Spirit

Ip

Cayman

Ltd.,

8.00%,

9/20/2025

(a)

9,400

10,642

SRS

Distribution,

Inc.,

8.25%,

7/01/2026

(a)

49,000

51,422

Staples,

Inc.

7.50%,

4/15/2026

(a)

55,000

56,963

10.75%,

4/15/2027

(a)

30,000

31,038

Stars

Group

Holdings

BV

/

Stars

Group

US

Co.-

Borrower

LLC,

7.00%,

7/15/2026

(a)

16,000

16,710

Station

Casinos

LLC

5.00%,

10/01/2025

(a)

7,000

7,102

4.50%,

2/15/2028

(a)

35,000

35,100

Studio

City

Finance

Ltd.

6.00%,

7/15/2025

(a)

10,000

10,581

6.50%,

1/15/2028

(a)

10,000

10,835

5.00%,

1/15/2029

(a)

35,000

35,690

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp.

5.50%,

6/01/2024

10,000

10,116

5.75%,

3/01/2025

25,000

25,514

5.88%,

3/01/2027

20,000

20,869

Sugarhouse

HSP

Gaming

Prop

Mezz

LP

/

Sugarhouse

HSP

Gaming

Finance

Corp.,

5.88%,

5/15/2025

(a)

15,000

14,662

Superior

Plus

LP

/

Superior

General

Partner,

Inc.,

4.50%,

3/15/2029

(a)

20,000

20,423

Taylor

Morrison

Communities,

Inc.

6.63%,

7/15/2027

(a)

15,000

16,257

5.75%,

1/15/2028

(a)

15,000

16,925

Taylor

Morrison

Communities,

Inc.

/

Taylor

Morrison

Holdings

II,

Inc.

5.88%,

4/15/2023

(a)

10,000

10,738

5.63%,

3/01/2024

(a)

13,000

14,160

Tempur

Sealy

International,

Inc.,

5.50%,

6/15/2026

15,000

15,465

Tenneco,

Inc.,

5.13%,

4/15/2029

(a)

20,000

19,876

Tesla,

Inc.,

5.30%,

8/15/2025

(a)

70,000

72,538

Titan

International,

Inc.

6.50%,

11/30/2023

5,000

5,165

7.00%,

4/30/2028

(a)

20,000

20,664

Toll

Brothers

Finance

Corp.

4.38%,

4/15/2023

10,000

10,514

4.88%,

3/15/2027

17,000

19,258

3.80%,

11/01/2029

25,000

26,688

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

Travel

+

Leisure

Co.

4.25%,

3/01/2022

17,000

17,234

3.90%,

3/01/2023

10,000

10,328

5.65%,

4/01/2024

7,000

7,624

6.60%,

10/01/2025

25,000

28,352

6.63%,

7/31/2026

(a)

23,000

26,356

6.00%,

4/01/2027

11,000

12,314

4.63%,

3/01/2030

(a)

7,000

7,269

TRI

Pointe

Group,

Inc.

5.25%,

6/01/2027

10,000

10,786

5.70%,

6/15/2028

6,000

6,673

TRI

Pointe

Group,

Inc.

/

TRI

Pointe

Homes,

Inc.,

5.88%,

6/15/2024

15,000

16,725

Under

Armour,

Inc.,

3.25%,

6/15/2026

20,000

20,326

United

Airlines

Holdings,

Inc.

4.25%,

10/01/2022

25,000

25,501

5.00%,

2/01/2024

(b)

10,000

10,288

4.88%,

1/15/2025

(b)

10,000

10,139

United

Airlines,

Inc.

4.38%,

4/15/2026

(a)

55,000

57,150

4.63%,

4/15/2029

(a)

55,000

57,180

Univar

Solutions

USA,

Inc.,

5.13%,

12/01/2027

(a)

15,000

15,675

Vail

Resorts,

Inc.,

6.25%,

5/15/2025

(a)

15,000

15,943

Viking

Cruises

Ltd.

6.25%,

5/15/2025

(a)

10,000

10,012

13.00%,

5/15/2025

(a)

25,000

29,230

5.88%,

9/15/2027

(a)

30,000

29,402

VOC

Escrow

Ltd.,

5.00%,

2/15/2028

(a)

20,000

20,400

Wabash

National

Corp.,

5.50%,

10/01/2025

(a)

38,000

38,756

White

Capital

Buyer

LLC,

6.88%,

10/15/2028

(a)

20,000

21,230

William

Carter

Co.

(The)

5.50%,

5/15/2025

(a)

15,000

15,869

5.63%,

3/15/2027

(a)

25,000

26,365

Williams

Scotsman

International,

Inc.,

4.63%,

8/15/2028

(a)

30,000

30,678

Winnebago

Industries,

Inc.,

6.25%,

7/15/2028

(a)

10,000

10,825

WMG

Acquisition

Corp.

3.88%,

7/15/2030

(a)

15,000

15,182

3.00%,

2/15/2031

(a)

20,000

18,765

Wolverine

Escrow

LLC

8.50%,

11/15/2024

(a)

20,000

19,696

9.00%,

11/15/2026

(a)

25,000

24,726

13.13%,

11/15/2027

(a)(b)

30,000

25,397

Wolverine

World

Wide,

Inc.,

6.38%,

5/15/2025

(a)

20,000

21,393

Wyndham

Hotels

&

Resorts,

Inc.,

4.38%,

8/15/2028

(a)

30,000

30,917

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

4.25%,

5/30/2023

(a)

30,000

30,778

5.50%,

3/01/2025

(a)

40,000

42,610

5.25%,

5/15/2027

(a)

25,000

26,509

Wynn

Macau

Ltd.

5.50%,

1/15/2026

(a)

95,000

99,600

5.50%,

10/01/2027

(a)

75,000

78,755

5.63%,

8/26/2028

(a)

15,000

15,766

5.13%,

12/15/2029

(a)

70,000

71,283

88

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Cyclical

–

22.6%

(continued)

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

7.75%,

4/15/2025

(a)

30,000

32,385

5.13%,

10/01/2029

(a)

10,000

10,343

Yum!

Brands,

Inc.

3.88%,

11/01/2023

(b)

17,000

17,908

7.75%,

4/01/2025

(a)

15,000

16,391

4.75%,

1/15/2030

(a)

35,000

37,557

3.63%,

3/15/2031

30,000

29,631

4.63%,

1/31/2032

75,000

78,380

6.88%,

11/15/2037

5,000

6,100

5.35%,

11/01/2043

5,000

5,136

ZF

North

America

Capital,

Inc.

4.50%,

4/29/2022

(a)

20,000

20,578

4.75%,

4/29/2025

(a)

27,000

29,125

10,194,027

Consumer,

Non-cyclical

–

16.2%

Acadia

Healthcare

Co.,

Inc.

5.50%,

7/01/2028

(a)

15,000

15,878

5.00%,

4/15/2029

(a)

20,000

20,671

Adapthealth

LLC,

6.13%,

8/01/2028

(a)

10,000

10,534

ADT

Security

Corp.

(The)

3.50%,

7/15/2022

35,000

35,825

4.13%,

6/15/2023

3,000

3,144

4.88%,

7/15/2032

(a)

15,000

15,709

Advanz

Pharma

Corp.

Ltd.,

8.00%,

9/06/2024

30,000

30,574

Ahern

Rentals,

Inc.,

7.38%,

5/15/2023

(a)

13,000

11,700

AHP

Health

Partners,

Inc.,

9.75%,

7/15/2026

(a)

10,000

10,858

Air

Methods

Corp.,

8.00%,

5/15/2025

(a)

15,000

14,190

Akumin,

Inc.,

7.00%,

11/01/2025

(a)

10,000

10,441

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

2/15/2023

(a)

35,000

36,024

5.75%,

3/15/2025

(b)

10,000

10,310

3.25%,

3/15/2026

(a)

20,000

19,957

7.50%,

3/15/2026

(a)

23,000

25,354

4.63%,

1/15/2027

(a)

35,000

36,389

5.88%,

2/15/2028

(a)

30,000

31,963

3.50%,

3/15/2029

(a)

55,000

52,976

4.88%,

2/15/2030

(a)

35,000

36,453

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

6.63%,

7/15/2026

(a)

55,000

58,245

9.75%,

7/15/2027

(a)

28,000

30,810

AMN

Healthcare,

Inc.,

4.63%,

10/01/2027

(a)

15,000

15,544

Aptim

Corp.,

7.75%,

6/15/2025

(a)

35,000

29,930

APX

Group,

Inc.

7.88%,

12/01/2022

20,000

20,094

7.63%,

9/01/2023

25,000

25,699

6.75%,

2/15/2027

(a)

20,000

21,538

ASGN,

Inc.,

4.63%,

5/15/2028

(a)

20,000

20,812

Avantor

Funding,

Inc.,

4.63%,

7/15/2028

(a)

45,000

47,125

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance,

Inc.

5.25%,

3/15/2025

(a)

7,000

7,128

5.75%,

7/15/2027

(a)(b)

10,000

10,581

Avon

Products,

Inc.

6.50%,

3/15/2023

13,000

13,926

8.45%,

3/15/2043

5,000

6,387

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Non-cyclical

–

16.2%

(continued)

B&G

Foods,

Inc.,

5.25%,

9/15/2027

2,000

2,069

Bausch

Health

Americas,

Inc.

9.25%,

4/01/2026

(a)

63,000

69,779

8.50%,

1/31/2027

(a)

55,000

61,236

Bausch

Health

Cos.,

Inc.

7.00%,

3/15/2024

(a)

25,000

25,640

6.13%,

4/15/2025

(a)

100,000

102,220

5.50%,

11/01/2025

(a)

10,000

10,310

9.00%,

12/15/2025

(a)

45,000

48,780

5.75%,

8/15/2027

(a)

15,000

16,106

7.00%,

1/15/2028

(a)

8,000

8,741

5.00%,

1/30/2028

(a)

55,000

55,812

6.25%,

2/15/2029

(a)

25,000

26,444

7.25%,

5/30/2029

(a)

17,000

18,840

5.25%,

1/30/2030

(a)

45,000

45,224

5.25%,

2/15/2031

(a)

40,000

40,053

Brink's

Co.

(The)

5.50%,

7/15/2025

(a)

20,000

21,200

4.63%,

10/15/2027

(a)

30,000

31,236

Cardtronics,

Inc.

/

Cardtronics

USA,

Inc.,

5.50%,

5/01/2025

(a)

7,000

7,197

Carriage

Services,

Inc.,

6.63%,

6/01/2026

(a)

10,000

10,526

Catalent

Pharma

Solutions,

Inc.

5.00%,

7/15/2027

(a)

20,000

20,988

3.13%,

2/15/2029

(a)

30,000

29,094

Centene

Corp.

5.38%,

6/01/2026

(a)

38,000

39,623

5.38%,

8/15/2026

(a)

35,000

36,704

4.25%,

12/15/2027

100,000

104,866

4.63%,

12/15/2029

125,000

135,657

3.38%,

2/15/2030

70,000

70,356

3.00%,

10/15/2030

60,000

59,561

Central

Garden

&

Pet

Co.

5.13%,

2/01/2028

5,000

5,299

4.13%,

10/15/2030

30,000

30,934

Charles

River

Laboratories

International,

Inc.

4.25%,

5/01/2028

(a)

25,000

26,030

3.75%,

3/15/2029

(a)

25,000

25,439

Chobani

LLC

/

Chobani

Finance

Corp.,

Inc.,

7.50%,

4/15/2025

(a)

15,000

15,612

CHS/Community

Health

Systems,

Inc.

8.13%,

6/30/2024

(a)

40,000

41,875

6.63%,

2/15/2025

(a)

30,000

31,662

8.00%,

3/15/2026

(a)

60,000

64,610

5.63%,

3/15/2027

(a)

50,000

52,975

8.00%,

12/15/2027

(a)

55,000

60,520

6.88%,

4/01/2028

(a)(b)

20,000

18,907

6.88%,

4/15/2029

(a)

50,000

52,302

4.75%,

2/15/2031

(a)

25,000

24,800

Cimpress

PLC,

7.00%,

6/15/2026

(a)

40,000

42,072

Cooke

Omega

Investments,

Inc.

/

Alpha

Vesselco

Holdings,

Inc.,

8.50%,

12/15/2022

(a)

10,000

10,281

CoreCivic,

Inc.

5.00%,

10/15/2022

10,000

10,514

4.63%,

5/01/2023

(b)

13,000

13,166

4.75%,

10/15/2027

(b)

10,000

9,013

Coty,

Inc.,

6.50%,

4/15/2026

(a)

20,000

20,112

Darling

Ingredients,

Inc.,

5.25%,

4/15/2027

(a)

8,000

8,405

Davita,

Inc.,

4.63%,

6/01/2030

(a)

50,000

50,625

89

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Non-cyclical

–

16.2%

(continued)

DaVita,

Inc.,

3.75%,

2/15/2031

(a)

40,000

38,013

Del

Monte

Foods,

Inc.,

11.88%,

5/15/2025

(a)

10,000

11,388

Edgewell

Personal

Care

Co.,

5.50%,

6/01/2028

(a)

35,000

37,212

Elanco

Animal

Health,

Inc.

5.27%,

8/28/2023

32,000

34,585

5.90%,

8/28/2028

22,000

24,995

Emergent

Biosolutions,

Inc.,

3.88%,

8/15/2028

(a)

10,000

9,367

Encompass

Health

Corp.

5.13%,

3/15/2023

4,000

4,017

4.50%,

2/01/2028

35,000

36,261

4.75%,

2/01/2030

35,000

36,826

4.63%,

4/01/2031

25,000

26,538

ENDO

Dac

/

ENDO

Finance

LLC

/

ENDO

Finco,

Inc.

9.50%,

7/31/2027

(a)

25,000

26,499

6.00%,

6/30/2028

(a)

60,000

45,862

ENDO

Luxembourg

Finance

Co.

I

Sarl

/

ENDO

US,

Inc.,

6.13%,

4/01/2029

(a)

35,000

34,650

Envision

Healthcare

Corp.,

8.75%,

10/15/2026

(a)

5,000

3,642

Fresh

Market,

Inc.

(The),

9.75%,

5/01/2023

(a)

10,000

10,282

Garda

World

Security

Corp.

8.75%,

5/15/2025

(a)

10,000

10,425

4.63%,

2/15/2027

(a)

15,000

15,078

9.50%,

11/01/2027

(a)

15,000

16,518

Gartner,

Inc.

4.50%,

7/01/2028

(a)

20,000

21,028

3.75%,

10/01/2030

(a)

25,000

25,061

Global

Medical

Response,

Inc.,

6.50%,

10/01/2025

(a)

20,000

20,487

Graham

Holdings

Co.,

5.75%,

6/01/2026

(a)

11,000

11,491

Hadrian

Merger

Sub,

Inc.,

8.50%,

5/01/2026

(a)

15,000

15,617

HCA,

Inc.

5.88%,

5/01/2023

35,000

38,132

8.36%,

4/15/2024

21,000

24,630

5.38%,

2/01/2025

98,000

109,199

5.88%,

2/15/2026

22,000

25,267

5.38%,

9/01/2026

40,000

45,461

7.05%,

12/01/2027

5,000

6,043

5.63%,

9/01/2028

55,000

64,140

5.88%,

2/01/2029

25,000

29,459

3.50%,

9/01/2030

47,000

48,272

7.50%,

11/15/2095

5,000

6,874

Herbalife

Nutrition

Ltd.

/

Hlf

Financing,

Inc.,

7.88%,

9/01/2025

(a)(b)

30,000

32,630

Herc

Holdings,

Inc.,

5.50%,

7/15/2027

(a)

40,000

42,293

H-Food

Holdings

LLC

/

Hearthside

Finance

Co.,

Inc.,

8.50%,

6/01/2026

(a)

15,000

15,451

Hill-Rom

Holdings,

Inc.

5.00%,

2/15/2025

(a)

25,000

25,655

4.38%,

9/15/2027

(a)

5,000

5,183

Hlf

Financing

Sarl

LLC

/

Herbalife

International,

Inc.,

7.25%,

8/15/2026

(a)

15,000

15,673

Hologic,

Inc.,

3.25%,

2/15/2029

(a)

40,000

39,276

Horizon

Therapeutics

USA,

Inc.,

5.50%,

8/01/2027

(a)

37,000

39,599

IHS

Markit

Ltd.,

4.25%,

5/01/2029

25,000

28,372

Ingles

Markets,

Inc.,

5.75%,

6/15/2023

25,000

25,230

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Non-cyclical

–

16.2%

(continued)

IQVIA,

Inc.

5.00%,

10/15/2026

(a)

25,000

25,866

5.00%,

5/15/2027

(a)

50,000

52,292

Jaguar

Holding

Co.

II

/

Ppd

Development

LP

4.63%,

6/15/2025

(a)

10,000

10,515

5.00%,

6/15/2028

(a)

20,000

21,819

JBS

Investments

II

GmbH,

7.00%,

1/15/2026

(a)

46,000

48,938

JBS

USA

LUX

SA

/

JBS

USA

Finance,

Inc.,

6.75%,

2/15/2028

(a)

25,000

27,564

JBS

USA

LUX

SA

/

JBS

USA

Food

Co.

/

JBS

USA

Finance,

Inc.

6.50%,

4/15/2029

(a)

40,000

45,025

5.50%,

1/15/2030

(a)

35,000

38,579

KeHE

Distributors

LLC

/

KeHE

Finance

Corp.,

8.63%,

10/15/2026

(a)

10,000

11,181

Korn

Ferry,

4.63%,

12/15/2027

(a)

10,000

10,410

Kraft

Heinz

Foods

Co.

4.00%,

6/15/2023

20,000

21,479

3.00%,

6/01/2026

31,000

32,693

3.88%,

5/15/2027

30,000

32,650

4.63%,

1/30/2029

45,000

50,758

3.75%,

4/01/2030

25,000

26,711

4.25%,

3/01/2031

10,000

11,021

6.75%,

3/15/2032

11,000

14,423

5.00%,

7/15/2035

40,000

46,644

6.88%,

1/26/2039

33,000

45,285

7.13%,

8/01/2039

(a)

35,000

49,542

4.63%,

10/01/2039

20,000

22,286

6.50%,

2/09/2040

30,000

39,785

5.00%,

6/04/2042

80,000

92,182

5.20%,

7/15/2045

55,000

65,100

4.38%,

6/01/2046

110,000

117,827

4.88%,

10/01/2049

90,000

103,275

5.50%,

6/01/2050

40,000

49,482

Kronos

Acquisition

Holdings,

Inc.

/

Kik

Custom

Products,

Inc.

5.00%,

12/31/2026

(a)(b)

15,000

15,132

7.00%,

12/31/2027

(a)

15,000

14,550

Lamb

Weston

Holdings,

Inc.

4.63%,

11/01/2024

(a)

45,000

46,675

4.88%,

11/01/2026

(a)

25,000

25,956

4.88%,

5/15/2028

(a)

25,000

27,523

Legacy

LifePoint

Health

LLC

6.75%,

4/15/2025

(a)

35,000

37,330

4.38%,

2/15/2027

(a)

30,000

30,040

LifePoint

Health,

Inc.,

5.38%,

1/15/2029

(a)

35,000

34,992

Magellan

Health,

Inc.,

4.90%,

9/22/2024

11,000

12,027

MEDNAX,

Inc.,

6.25%,

1/15/2027

(a)

32,000

34,020

Midas

Intermediate

Holdco

II

LLC

/

Midas

Intermediate

Holdco

II

Finance,

Inc.,

7.88%,

10/01/2022

(a)

10,000

9,812

Modivcare,

Inc.,

5.88%,

11/15/2025

(a)

10,000

10,627

Molina

Healthcare,

Inc.

5.38%,

11/15/2022

25,000

26,294

4.38%,

6/15/2028

(a)

35,000

36,142

Mph

Acquisition

Holdings

LLC,

5.75%,

11/01/2028

(a)(b)

45,000

44,344

Nielsen

Co.

Luxembourg

Sarl

(The),

5.00%,

2/01/2025

(a)(b)

18,000

18,471

90

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Non-cyclical

–

16.2%

(continued)

Nielsen

Finance

LLC

/

Nielsen

Finance

Co.

5.63%,

10/01/2028

(a)

45,000

47,981

5.88%,

10/01/2030

(a)

20,000

21,869

North

Queensland

Export

Terminal

Pty

Ltd.,

4.45%,

12/15/2022

(a)

21,000

19,840

Organon

Finance

1

LLC,

5.13%,

4/30/2031

(a)

100,000

103,885

Ortho-Clinical

Diagnostics,

Inc.

/

Ortho-Clinical

Diagnostics

SA

7.38%,

6/01/2025

(a)

6,000

6,464

7.25%,

2/01/2028

(a)

13,000

14,253

Owens

&

Minor,

Inc.,

4.50%,

3/31/2029

(a)

15,000

15,154

P&l

Development

LLC

/

Pld

Finance

Corp.,

7.75%,

11/15/2025

(a)

10,000

10,681

Par

Pharmaceutical,

Inc.,

7.50%,

4/01/2027

(a)

41,000

43,133

Pilgrim's

Pride

Corp.,

5.88%,

9/30/2027

(a)

20,000

21,285

Post

Holdings,

Inc.

5.75%,

3/01/2027

(a)

20,000

20,958

5.63%,

1/15/2028

(a)

40,000

42,241

5.50%,

12/15/2029

(a)

20,000

21,529

4.63%,

4/15/2030

(a)

50,000

50,471

4.50%,

9/15/2031

(a)

75,000

74,471

Prestige

Brands,

Inc.,

3.75%,

4/01/2031

(a)

25,000

23,980

Prime

Healthcare

Services,

Inc.,

7.25%,

11/01/2025

(a)

20,000

21,509

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

5.25%,

4/15/2024

(a)

40,000

42,715

5.75%,

4/15/2026

(a)

40,000

43,748

3.38%,

8/31/2027

(a)

30,000

28,956

6.25%,

1/15/2028

(a)

35,000

36,727

Quad/Graphics,

Inc.,

7.00%,

5/01/2022

(b)

10,000

9,903

Radiology

Partners,

Inc.,

9.25%,

2/01/2028

(a)

20,000

21,929

RegionalCare

Hospital

Partners

Holdings,

Inc.

/

LifePoint

Health,

Inc.,

9.75%,

12/01/2026

(a)

26,000

28,153

Ritchie

Bros

Auctioneers,

Inc.,

5.38%,

1/15/2025

(a)

17,000

17,478

Rp

Escrow

Issuer

LLC,

5.25%,

12/15/2025

(a)

35,000

36,408

RR

Donnelley

&

Sons

Co.,

6.13%,

11/01/2026

(a)

40,000

41,413

Sabre

GLBL,

Inc.

9.25%,

4/15/2025

(a)

25,000

29,962

7.38%,

9/01/2025

(a)

75,000

81,622

Safeway,

Inc.,

7.25%,

2/01/2031

50,000

58,225

Select

Medical

Corp.,

6.25%,

8/15/2026

(a)

86,000

91,454

Service

Corp.

International

4.63%,

12/15/2027

20,000

21,220

5.13%,

6/01/2029

23,000

24,813

3.38%,

8/15/2030

45,000

43,547

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub,

Inc.,

4.63%,

11/01/2026

(a)

10,000

10,421

Simmons

Foods,

Inc./Simmons

Prepared

Foods,

Inc./Simmons

Pet

Food,

Inc./Simmons

Feed,

4.63%,

3/01/2029

(a)

40,000

40,302

Sotheby's,

7.38%,

10/15/2027

(a)

20,000

21,531

Spectrum

Brands,

Inc.

5.75%,

7/15/2025

35,000

36,020

5.50%,

7/15/2030

(a)

10,000

10,783

Surgery

Center

Holdings,

Inc.

6.75%,

7/01/2025

(a)

10,000

10,185

10.00%,

4/15/2027

(a)(b)

15,000

16,438

Syneos

Health,

Inc.,

3.63%,

1/15/2029

(a)

15,000

14,699

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Consumer,

Non-cyclical

–

16.2%

(continued)

Team

Health

Holdings,

Inc.,

6.38%,

2/01/2025

(a)

(b)

20,000

17,693

Teleflex,

Inc.

4.88%,

6/01/2026

16,000

16,408

4.63%,

11/15/2027

20,000

21,258

4.25%,

6/01/2028

(a)

15,000

15,471

Tenet

Healthcare

Corp.

6.75%,

6/15/2023

51,000

55,682

4.63%,

7/15/2024

22,000

22,337

4.63%,

9/01/2024

(a)

15,000

15,425

5.13%,

5/01/2025

40,000

40,500

4.88%,

1/01/2026

(a)

60,000

62,326

6.25%,

2/01/2027

(a)

40,000

41,940

5.13%,

11/01/2027

(a)

27,000

28,378

4.63%,

6/15/2028

(a)

15,000

15,488

6.13%,

10/01/2028

(a)

50,000

52,653

TreeHouse

Foods,

Inc.,

4.00%,

9/01/2028

15,000

14,924

United

Rentals

North

America,

Inc.

5.50%,

5/15/2027

19,000

20,253

4.88%,

1/15/2028

50,000

52,920

5.25%,

1/15/2030

20,000

21,866

4.00%,

7/15/2030

20,000

20,409

3.88%,

2/15/2031

25,000

25,175

US

Foods,

Inc.,

6.25%,

4/15/2025

(a)

35,000

37,217

US

Renal

Care,

Inc.,

10.63%,

7/15/2027

(a)

15,000

15,858

Vector

Group

Ltd.,

10.50%,

11/01/2026

(a)

65,000

68,918

Verscend

Escrow

Corp.,

9.75%,

8/15/2026

(a)

60,000

63,908

7,295,495

Diversified

–

0.1%

Stena

International

SA,

6.13%,

2/01/2025

(a)

23,000

23,390

23,390

Energy

–

12.1%

Aethon

United

Br

LP

/

Aethon

United

Finance

Corp.,

8.25%,

2/15/2026

(a)

25,000

26,506

AI

Candelaria

Spain

SLU,

7.50%,

12/15/2028

(a)

11,000

12,596

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp.,

7.50%,

5/01/2025

(a)

10,000

9,469

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp.

5.38%,

9/15/2024

15,000

15,258

7.88%,

5/15/2026

(a)

20,000

21,789

5.75%,

3/01/2027

(a)

20,000

20,210

5.75%,

1/15/2028

(a)

20,000

20,365

Antero

Resources

Corp.

5.00%,

3/01/2025

(b)

20,000

20,296

8.38%,

7/15/2026

(a)

20,000

22,454

7.63%,

2/01/2029

(a)

10,000

10,831

Apache

Corp.

4.63%,

11/15/2025

(b)

10,000

10,561

4.88%,

11/15/2027

15,000

15,820

4.38%,

10/15/2028

25,000

25,478

4.25%,

1/15/2030

(b)

55,000

55,177

6.00%,

1/15/2037

20,000

22,541

5.10%,

9/01/2040

35,000

35,922

5.25%,

2/01/2042

25,000

26,021

4.25%,

1/15/2044

15,000

14,043

7.38%,

8/15/2047

25,000

27,982

5.35%,

7/01/2049

30,000

30,427

91

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp.

6.88%,

4/01/2027

(a)

10,000

10,625

6.25%,

4/01/2028

(a)

30,000

31,375

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.,

7.00%,

11/01/2026

(a)

20,000

20,243

Baytex

Energy

Corp.

5.63%,

6/01/2024

(a)

5,000

4,699

8.75%,

4/01/2027

(a)

15,000

13,950

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp.

7.63%,

12/15/2025

(a)

15,000

16,206

6.63%,

7/15/2026

(a)

10,000

10,331

Buckeye

Partners

LP

4.15%,

7/01/2023

30,000

31,075

4.35%,

10/15/2024

5,000

5,223

4.13%,

3/01/2025

(a)

30,000

30,911

3.95%,

12/01/2026

16,000

16,075

4.13%,

12/01/2027

10,000

9,923

4.50%,

3/01/2028

(a)

15,000

15,074

5.85%,

11/15/2043

16,000

15,789

5.60%,

10/15/2044

15,000

14,464

6.38%,

1/22/2078

30,000

24,792

California

Resources

Corp.,

7.13%,

2/01/2026

(a)

15,000

15,363

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

7.75%,

4/15/2023

15,000

14,978

9.25%,

7/15/2024

(a)

5,000

5,524

11.00%,

4/15/2025

(a)

30,000

32,666

Centennial

Resource

Production

LLC,

6.88%,

4/01/2027

(a)(b)

10,000

9,419

Cheniere

Energy

Partners

LP

5.63%,

10/01/2026

31,000

32,317

4.50%,

10/01/2029

45,000

46,955

Cheniere

Energy,

Inc.,

4.63%,

10/15/2028

(a)

55,000

57,345

CNX

Midstream

Partners

LP

/

CNX

Midstream

Finance

Corp.,

6.50%,

3/15/2026

(a)

15,000

15,542

Comstock

Resources,

Inc.

7.50%,

5/15/2025

(a)

6,000

6,224

6.75%,

3/01/2029

(a)

15,000

15,324

Continental

Resources,

Inc.

4.50%,

4/15/2023

18,000

18,866

3.80%,

6/01/2024

25,000

26,183

4.38%,

1/15/2028

(b)

20,000

21,744

5.75%,

1/15/2031

(a)

45,000

52,204

4.90%,

6/01/2044

25,000

26,266

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp.

5.75%,

4/01/2025

15,000

15,386

5.63%,

5/01/2027

(a)

20,000

20,453

6.00%,

2/01/2029

(a)

35,000

36,163

CrownRock

LP

/

CrownRock

Finance,

Inc.,

5.63%,

10/15/2025

(a)

35,000

36,227

CVR

Energy,

Inc.

5.25%,

2/15/2025

(a)

10,000

10,048

5.75%,

2/15/2028

(a)(b)

5,000

5,070

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

DCP

Midstream

Operating

LP

5.63%,

7/15/2027

10,000

10,932

5.13%,

5/15/2029

20,000

21,460

6.45%,

11/03/2036

(a)

15,000

16,926

6.75%,

9/15/2037

(a)

15,000

17,378

5.85%,

5/21/2043

(a)

15,000

13,650

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp.,

6.75%,

5/15/2025

18,000

18,287

Double

Eagle

III

Midco

1

LLC

/

Double

Eagle

Finance

Corp.,

7.75%,

12/15/2025

(a)

15,000

16,967

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

6.63%,

7/15/2025

(a)

5,000

5,327

5.50%,

1/30/2026

(a)

20,000

20,707

5.75%,

1/30/2028

(a)

30,000

32,014

EnLink

Midstream

LLC,

5.38%,

6/01/2029

5,000

5,002

EnLink

Midstream

Partners

LP

4.40%,

4/01/2024

10,000

10,260

4.15%,

6/01/2025

15,000

15,133

4.85%,

7/15/2026

5,000

5,030

5.45%,

6/01/2047

20,000

17,001

Ensign

Drilling,

Inc.,

9.25%,

4/15/2024

(a)

15,000

12,088

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp.,

6.50%,

1/15/2026

(a)

15,000

15,730

EQM

Midstream

Partners

LP

4.75%,

7/15/2023

16,000

16,752

4.00%,

8/01/2024

30,000

30,675

6.00%,

7/01/2025

(a)

20,000

21,836

4.13%,

12/01/2026

10,000

10,116

6.50%,

7/01/2027

(a)

25,000

27,588

5.50%,

7/15/2028

15,000

15,937

EQT

Corp.

3.00%,

10/01/2022

(b)

8,000

8,136

7.63%,

2/01/2025

30,000

34,527

3.90%,

10/01/2027

(b)

45,000

46,898

8.50%,

2/01/2030

25,000

31,969

Exterran

Energy

Solutions

LP

/

Ees

Finance

Corp.,

8.13%,

5/01/2025

5,000

4,517

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp.

5.63%,

6/15/2024

28,000

28,000

6.50%,

10/01/2025

13,000

13,051

6.25%,

5/15/2026

15,000

14,716

8.00%,

1/15/2027

20,000

20,606

7.75%,

2/01/2028

24,000

24,231

Global

Partners

LP

/

GLP

Finance

Corp.,

7.00%,

8/01/2027

10,000

10,669

Harvest

Midstream

I

LP,

7.50%,

9/01/2028

(a)

20,000

21,576

Hess

Midstream

Operations

LP

5.63%,

2/15/2026

(a)

5,000

5,190

5.13%,

6/15/2028

(a)

20,000

20,702

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

6.25%,

11/01/2028

(a)

35,000

36,392

5.75%,

2/01/2029

(a)

15,000

15,310

6.00%,

2/01/2031

(a)

20,000

20,737

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp.,

5.00%,

2/01/2028

(a)

30,000

30,984

Indigo

Natural

Resources

LLC,

5.38%,

2/01/2029

(a)

20,000

19,848

92

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

Ithaca

Energy

North

Sea

PLC,

9.38%,

7/15/2024

(a)

15,000

15,015

Laredo

Petroleum,

Inc.

9.50%,

1/15/2025

15,000

15,453

10.13%,

1/15/2028

25,000

25,745

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp.,

6.00%,

8/01/2026

(a)

10,000

10,308

Matador

Resources

Co.,

5.88%,

9/15/2026

(b)

30,000

29,909

Meg

Energy

Corp.,

5.88%,

2/01/2029

(a)

20,000

20,509

MEG

Energy

Corp.

6.50%,

1/15/2025

(a)

10,000

10,342

7.13%,

2/01/2027

(a)

27,000

28,828

Moss

Creek

Resources

Holdings,

Inc.

7.50%,

1/15/2026

(a)

40,000

35,776

10.50%,

5/15/2027

(a)

10,000

9,438

Murphy

Oil

Corp.

6.88%,

8/15/2024

(b)

10,000

10,262

5.75%,

8/15/2025

12,000

12,278

5.88%,

12/01/2027

15,000

15,079

6.38%,

7/15/2028

35,000

35,527

6.38%,

12/01/2042

5,000

4,688

Nabors

Industries

Ltd.

7.25%,

1/15/2026

(a)

35,000

31,250

7.50%,

1/15/2028

(a)

15,000

13,070

Nabors

Industries,

Inc.

5.75%,

2/01/2025

15,000

12,385

9.00%,

2/01/2025

(a)

5,000

5,175

Natural

Resource

Partners

LP

/

NRP

Finance

Corp.,

9.13%,

6/30/2025

(a)

27,000

25,760

Neptune

Energy

Bondco

PLC,

6.63%,

5/15/2025

(a)

20,000

20,306

New

Fortress

Energy,

Inc.

6.75%,

9/15/2025

(a)

40,000

41,418

6.50%,

9/30/2026

(a)

50,000

50,976

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp.,

7.50%,

2/01/2026

(a)

55,000

57,815

NGL

Energy

Partners

LP

/

NGL

Energy

Finance

Corp.

7.50%,

11/01/2023

15,000

14,653

6.13%,

3/01/2025

(b)

10,000

8,882

7.50%,

4/15/2026

(b)

15,000

13,384

Northriver

Midstream

Finance

LP,

5.63%,

2/15/2026

(a)

15,000

15,475

Nustar

Logistics

LP

5.75%,

10/01/2025

15,000

16,145

6.38%,

10/01/2030

20,000

22,022

NuStar

Logistics

LP

4.75%,

2/01/2022

7,000

7,104

6.00%,

6/01/2026

30,000

32,495

5.63%,

4/28/2027

30,000

31,662

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

Occidental

Petroleum

Corp.

2.70%,

2/15/2023

48,000

48,280

6.95%,

7/01/2024

30,000

33,420

2.90%,

8/15/2024

95,000

94,777

3.50%,

6/15/2025

35,000

35,111

8.00%,

7/15/2025

(b)

15,000

17,508

5.55%,

3/15/2026

20,000

21,477

3.40%,

4/15/2026

35,000

34,637

3.20%,

8/15/2026

45,000

43,948

3.00%,

2/15/2027

20,000

19,119

8.50%,

7/15/2027

15,000

18,313

7.15%,

5/15/2028

5,000

5,441

6.38%,

9/01/2028

15,000

16,830

3.50%,

8/15/2029

60,000

57,335

8.88%,

7/15/2030

35,000

45,026

6.63%,

9/01/2030

50,000

57,087

6.13%,

1/01/2031

(b)

30,000

33,439

7.50%,

5/01/2031

25,000

29,757

7.88%,

9/15/2031

20,000

24,353

6.45%,

9/15/2036

50,000

56,926

7.95%,

6/15/2039

13,000

15,865

4.30%,

8/15/2039

10,000

8,835

6.20%,

3/15/2040

20,000

21,217

4.50%,

7/15/2044

15,000

13,407

6.60%,

3/15/2046

35,000

38,853

4.40%,

4/15/2046

35,000

30,930

4.20%,

3/15/2048

15,000

12,643

4.40%,

8/15/2049

20,000

17,410

Oceaneering

International,

Inc.

4.65%,

11/15/2024

5,000

4,880

6.00%,

2/01/2028

(b)

5,000

4,884

Ovintiv

Exploration,

Inc.

5.63%,

7/01/2024

70,000

77,995

5.38%,

1/01/2026

38,000

42,572

Ovintiv,

Inc.

8.13%,

9/15/2030

10,000

13,417

7.20%,

11/01/2031

15,000

19,523

7.38%,

11/01/2031

20,000

26,401

6.50%,

8/15/2034

20,000

25,498

6.63%,

8/15/2037

10,000

12,613

6.50%,

2/01/2038

10,000

12,670

5.15%,

11/15/2041

5,000

5,261

Par

Petroleum

LLC

/

Par

Petroleum

Finance

Corp.,

7.75%,

12/15/2025

(a)

10,000

10,139

Parkland

Corp./Canada,

5.88%,

7/15/2027

(a)

20,000

21,301

Patterson-UTI

Energy,

Inc.

3.95%,

2/01/2028

15,000

14,312

5.15%,

11/15/2029

26,000

26,204

PBF

Holding

Co.

LLC

/

PBF

Finance

Corp.

9.25%,

5/15/2025

(a)

35,000

36,658

7.25%,

6/15/2025

5,000

4,260

6.00%,

2/15/2028

30,000

22,694

PBF

Logistics

LP

/

PBF

Logistics

Finance

Corp.,

6.88%,

5/15/2023

20,000

19,989

PDC

Energy,

Inc.

6.13%,

9/15/2024

10,000

10,253

5.75%,

5/15/2026

21,000

21,828

Peabody

Energy

Corp.,

6.38%,

3/31/2025

(a)

50,000

21,254

93

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

Precision

Drilling

Corp.

7.75%,

12/15/2023

5,000

5,028

5.25%,

11/15/2024

5,000

4,802

7.13%,

1/15/2026

(a)

25,000

24,750

Range

Resources

Corp.

5.00%,

3/15/2023

7,000

7,157

4.88%,

5/15/2025

(b)

15,000

14,923

9.25%,

2/01/2026

30,000

32,926

8.25%,

1/15/2029

(a)

15,000

16,274

Rattler

Midstream

LP,

5.63%,

7/15/2025

(a)

15,000

15,784

Rockies

Express

Pipeline

LLC

3.60%,

5/15/2025

(a)

40,000

39,812

4.95%,

7/15/2029

(a)

30,000

30,635

4.80%,

5/15/2030

(a)

15,000

14,840

7.50%,

7/15/2038

(a)

5,000

5,564

6.88%,

4/15/2040

(a)

30,000

32,320

Ruby

Pipeline

LLC,

8.00%,

4/01/2022

(a)(b)

2,303

1,967

Seven

Generations

Energy

Ltd.,

6.75%,

5/01/2023

(a)

15,000

15,000

SM

Energy

Co.

5.00%,

1/15/2024

(b)

5,000

4,798

10.00%,

1/15/2025

(a)(b)

10,000

11,374

5.63%,

6/01/2025

10,000

9,549

6.75%,

9/15/2026

(b)

5,000

4,850

6.63%,

1/15/2027

(b)

10,000

9,658

Southeast

Supply

Header

LLC,

4.25%,

6/15/2024

(a)

50,000

50,015

Southwestern

Energy

Co.

4.10%,

3/15/2022

10,000

10,068

6.45%,

1/23/2025

6,000

6,479

7.50%,

4/01/2026

(b)

17,000

17,983

Suncoke

Energy

Partners

LP

/

Suncoke

Energy

Partners

Finance

Corp.,

7.50%,

6/15/2025

(a)

15,000

15,616

Sunoco

LP

/

Sunoco

Finance

Corp.

5.50%,

2/15/2026

15,000

15,469

6.00%,

4/15/2027

15,000

15,757

5.88%,

3/15/2028

16,000

16,935

4.50%,

5/15/2029

(a)

25,000

25,200

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

5.50%,

9/15/2024

(a)

26,000

26,561

7.50%,

10/01/2025

(a)

20,000

21,826

6.00%,

3/01/2027

(a)

20,000

20,300

5.50%,

1/15/2028

(a)

20,000

19,843

6.00%,

12/31/2030

(a)

20,000

20,073

Talos

Production,

Inc.,

12.00%,

1/15/2026

(a)

20,000

20,032

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

4.25%,

11/15/2023

20,000

20,024

5.88%,

4/15/2026

10,000

10,472

5.38%,

2/01/2027

20,000

20,826

6.50%,

7/15/2027

20,000

21,763

5.00%,

1/15/2028

35,000

36,838

6.88%,

1/15/2029

34,000

38,116

5.50%,

3/01/2030

25,000

27,056

4.88%,

2/01/2031

(a)

30,000

31,396

4.00%,

1/15/2032

(a)

30,000

29,470

Technipfmc

PLC,

6.50%,

2/01/2026

(a)

30,000

31,874

Terraform

Power

Operating

LLC,

4.25%,

1/31/2023

(a)

10,000

10,286

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Energy

–

12.1%

(continued)

TerraForm

Power

Operating

LLC

5.00%,

1/31/2028

(a)

30,000

32,284

4.75%,

1/15/2030

(a)

17,000

17,714

TransMontaigne

Partners

LP

/

TLP

Finance

Corp.,

6.13%,

2/15/2026

16,000

16,120

Transocean

Guardian

Ltd.,

5.88%,

1/15/2024

(a)

25,013

23,443

Transocean

Pontus

Ltd.,

6.13%,

8/01/2025

(a)

10,875

10,532

Transocean

Poseidon

Ltd.,

6.88%,

2/01/2027

(a)

35,000

33,119

Transocean,

Inc.,

11.50%,

1/30/2027

(a)

39,000

37,722

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp.

6.88%,

4/01/2026

37,000

38,784

6.88%,

9/01/2027

5,000

5,257

Vantage

Drilling

International,

9.25%,

11/15/2023

(a)

5,000

4,067

Viper

Energy

Partners

LP,

5.38%,

11/01/2027

(a)

15,000

15,706

W&T

Offshore,

Inc.,

9.75%,

11/01/2023

(a)

35,000

30,926

Weatherford

International

Ltd.,

11.00%,

12/01/2024

(a)

65,000

64,014

Western

Midstream

Operating

LP

4.00%,

7/01/2022

20,000

20,465

4.35%,

2/01/2025

22,000

23,265

3.95%,

6/01/2025

15,000

15,656

4.65%,

7/01/2026

12,000

12,861

4.50%,

3/01/2028

15,000

15,996

4.75%,

8/15/2028

15,000

16,153

5.30%,

2/01/2030

40,000

43,627

5.45%,

4/01/2044

30,000

31,599

5.30%,

3/01/2048

20,000

20,587

5.50%,

8/15/2048

10,000

10,287

6.50%,

2/01/2050

10,000

11,308

5,459,088

Financial

–

9.6%

Acrisure

LLC

/

Acrisure

Finance,

Inc.

7.00%,

11/15/2025

(a)

40,000

41,135

10.13%,

8/01/2026

(a)

20,000

22,890

Advisor

Group

Holdings,

Inc.,

10.75%,

8/01/2027

(a)

15,000

16,666

Aercap

Holdings

NV,

5.88%,

10/10/2079

50,000

52,127

AG

Issuer

LLC,

6.25%,

3/01/2028

(a)

10,000

10,353

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co.-Issuer

4.25%,

10/15/2027

(a)

25,000

25,276

6.75%,

10/15/2027

(a)

45,000

47,342

Ally

Financial,

Inc.,

5.75%,

11/20/2025

32,000

36,639

AmWINS

Group,

Inc.,

7.75%,

7/01/2026

(a)

30,000

31,951

ASG

Finance

Designated

Activity

Co.,

7.88%,

12/03/2024

(a)

15,000

14,396

Assuredpartners,

Inc.

7.00%,

8/15/2025

(a)

15,000

15,395

5.63%,

1/15/2029

(a)

15,000

15,201

Barclays

Bank

PLC,

6.86%

(a)(e)

5,000

6,883

Brookfield

Property

REIT,

Inc.

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LLC,

5.75%,

5/15/2026

(a)

25,000

26,121

94

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Financial

–

9.6%

(continued)

CIT

Group,

Inc.

5.00%,

8/01/2023

11,000

11,950

4.75%,

2/16/2024

13,000

14,164

3.93%,

6/19/2024

20,000

21,166

5.25%,

3/07/2025

15,000

16,922

6.13%,

3/09/2028

15,000

18,250

Cng

Holdings,

Inc.,

12.50%,

6/15/2024

(a)

10,000

9,538

Commerzbank

AG,

8.13%,

9/19/2023

(a)

25,000

28,653

Credit

Acceptance

Corp.

5.13%,

12/31/2024

(a)

23,000

23,763

6.63%,

3/15/2026

12,000

12,666

CTR

Partnership

LP

/

Caretrust

Capital

Corp.,

5.25%,

6/01/2025

10,000

10,287

Curo

Group

Holdings

Corp.,

8.25%,

9/01/2025

(a)

16,000

16,382

Cushman

&

Wakefield

US

Borrower

LLC,

6.75%,

5/15/2028

(a)

20,000

21,417

Deutsche

Bank

AG

4.50%,

4/01/2025

50,000

53,955

4.30%,

5/24/2028

80,000

83,145

Diversified

Healthcare

Trust

9.75%,

6/15/2025

25,000

28,063

4.75%,

2/15/2028

5,000

5,030

Enova

International,

Inc.

8.50%,

9/01/2024

(a)

8,000

8,241

8.50%,

9/15/2025

(a)

12,000

12,544

EPR

Properties

5.25%,

7/15/2023

5,000

5,215

4.50%,

4/01/2025

25,000

26,278

4.75%,

12/15/2026

5,000

5,252

4.50%,

6/01/2027

30,000

30,831

4.95%,

4/15/2028

25,000

26,076

3.75%,

8/15/2029

35,000

34,161

ESH

Hospitality,

Inc.

5.25%,

5/01/2025

(a)

30,000

30,605

4.63%,

10/01/2027

(a)

35,000

37,100

Fairstone

Financial,

Inc.,

7.88%,

7/15/2024

(a)

26,000

27,244

FelCor

Lodging

LP,

6.00%,

6/01/2025

10,000

10,230

Finance

of

America

Funding

LLC,

7.88%,

11/15/2025

(a)

10,000

10,348

Five

Point

Operating

Co.

LP

/

Five

Point

Capital

Corp.,

7.88%,

11/15/2025

(a)

12,000

12,690

Freedom

Mortgage

Corp.

8.13%,

11/15/2024

(a)

15,000

15,520

8.25%,

4/15/2025

(a)

35,000

36,296

7.63%,

5/01/2026

(a)

20,000

20,853

FS

Energy

&

Power

Fund,

7.50%,

8/15/2023

(a)

12,000

12,191

Genworth

Holdings,

Inc.

4.90%,

8/15/2023

13,000

12,926

Series

.,

4.80%,

2/15/2024

(b)

10,000

9,833

6.50%,

6/15/2034

10,000

9,957

Genworth

Mortgage

Holdings,

Inc.,

6.50%,

8/15/2025

(a)

25,000

27,140

GEO

Group,

Inc.

(The)

5.13%,

4/01/2023

5,000

4,568

5.88%,

10/15/2024

(b)

20,000

16,081

6.00%,

4/15/2026

(b)

10,000

6,898

Global

Aircraft

Leasing

Co.

Ltd.,

6.50%,

9/15/2024

(a)(c)

49,835

49,494

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Financial

–

9.6%

(continued)

Global

NET

Lease,

Inc.

/

Global

NET

Lease

Operating

Partnership

LP,

3.75%,

12/15/2027

(a)

10,000

9,888

Goeasy

Ltd.,

5.38%,

12/01/2024

(a)

15,000

15,598

Greystar

Real

Estate

Partners

LLC,

5.75%,

12/01/2025

(a)

20,000

20,635

GTCR

AP

Finance,

Inc.,

8.00%,

5/15/2027

(a)

30,000

31,968

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

5.25%,

7/15/2024

(a)

25,000

25,842

6.00%,

4/15/2025

(a)

40,000

42,366

Home

Point

Capital,

Inc.,

5.00%,

2/01/2026

(a)

15,000

14,766

Howard

Hughes

Corp.

(The)

5.38%,

8/01/2028

(a)

26,000

27,498

4.13%,

2/01/2029

(a)

25,000

24,750

4.38%,

2/01/2031

(a)

20,000

19,842

HUB

International

Ltd.,

7.00%,

5/01/2026

(a)

32,000

33,167

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp.

4.75%,

9/15/2024

85,000

89,039

6.38%,

12/15/2025

25,000

25,853

6.25%,

5/15/2026

85,000

89,701

5.25%,

5/15/2027

25,000

25,594

5.25%,

5/15/2027

(a)

90,000

92,138

Intesa

Sanpaolo

SpA

5.02%,

6/26/2024

(a)

51,000

55,373

5.71%,

1/15/2026

(a)

35,000

39,423

Iron

Mountain,

Inc.

4.88%,

9/15/2027

(a)

21,000

21,829

5.25%,

3/15/2028

(a)

20,000

20,974

5.00%,

7/15/2028

(a)

30,000

31,051

4.88%,

9/15/2029

(a)

21,000

21,446

5.25%,

7/15/2030

(a)

55,000

57,104

4.50%,

2/15/2031

(a)

50,000

49,827

5.63%,

7/15/2032

(a)

15,000

15,837

iStar,

Inc.

4.25%,

8/01/2025

12,000

12,194

5.50%,

2/15/2026

10,000

10,373

Kennedy-Wilson,

Inc.,

5.00%,

3/01/2031

15,000

15,518

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

5.25%,

3/15/2022

(a)

19,000

19,081

5.25%,

10/01/2025

(a)

15,000

15,201

4.25%,

2/01/2027

(a)

15,000

14,689

LD

Holdings

Group

LLC

6.50%,

11/01/2025

(a)

10,000

10,563

6.13%,

4/01/2028

(a)

150,000

150,578

LPL

Holdings,

Inc.,

4.63%,

11/15/2027

(a)

11,000

11,512

Mack-Cali

Realty

LP,

4.50%,

4/18/2022

5,000

5,033

MGIC

Investment

Corp.,

5.25%,

8/15/2028

15,000

15,858

MGM

Growth

Properties

Operating

Partnership

LP

/

MGP

Finance

Co.-Issuer,

Inc.

5.63%,

5/01/2024

24,000

25,881

4.63%,

6/15/2025

(a)

20,000

21,303

4.50%,

9/01/2026

20,000

21,164

5.75%,

2/01/2027

20,000

22,332

3.88%,

2/15/2029

(a)

20,000

20,269

95

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Financial

–

9.6%

(continued)

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

5.25%,

8/01/2026

18,000

18,564

5.00%,

10/15/2027

46,000

48,507

4.63%,

8/01/2029

25,000

26,469

3.50%,

3/15/2031

30,000

29,918

Nationstar

Mortgage

Holdings,

Inc.

6.00%,

1/15/2027

(a)

10,000

10,449

5.13%,

12/15/2030

(a)

20,000

19,788

Navient

Corp.

6.50%,

6/15/2022

60,000

62,991

5.50%,

1/25/2023

4,000

4,186

7.25%,

9/25/2023

15,000

16,298

6.13%,

3/25/2024

8,000

8,450

5.88%,

10/25/2024

18,000

19,009

5.63%,

8/01/2033

8,000

7,498

New

Residential

Investment

Corp.,

6.25%,

10/15/2025

(a)

15,000

15,247

Newmark

Group,

Inc.,

6.13%,

11/15/2023

26,000

28,404

NFP

Corp.,

6.88%,

8/15/2028

(a)

50,000

52,423

OneMain

Finance

Corp.

6.13%,

5/15/2022

30,000

31,432

5.63%,

3/15/2023

30,000

32,044

8.25%,

10/01/2023

6,000

6,831

6.13%,

3/15/2024

30,000

32,407

6.88%,

3/15/2025

31,000

35,214

8.88%,

6/01/2025

30,000

33,244

7.13%,

3/15/2026

35,000

40,883

6.63%,

1/15/2028

10,000

11,438

5.38%,

11/15/2029

17,000

18,347

4.00%,

9/15/2030

25,000

24,187

Oxford

Finance

LLC

/

Oxford

Finance

Co.-Issuer

II,

Inc.,

6.38%,

12/15/2022

(a)

10,000

10,154

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer

7.50%,

6/01/2025

(a)

15,000

16,306

5.88%,

10/01/2028

(a)

20,000

21,220

Pennymac

Financial

Services,

Inc.,

5.38%,

10/15/2025

(a)

16,000

16,861

PHH

Mortgage

Corp.,

7.88%,

3/15/2026

(a)(b)

10,000

10,167

Provident

Financing

Trust

I,

7.41%,

3/15/2038

20,000

23,184

Provident

Funding

Associates

LP

/

Pfg

Finance

Corp.,

6.38%,

6/15/2025

(a)

15,000

15,082

Quicken

Loans

LLC

/

Quicken

Loans

Co.-Issuer,

Inc.,

3.88%,

3/01/2031

(a)

35,000

34,121

Quicken

Loans,

Inc.,

5.25%,

1/15/2028

(a)

30,000

31,589

Radian

Group,

Inc.

4.50%,

10/01/2024

10,000

10,605

6.63%,

3/15/2025

15,000

16,969

4.88%,

3/15/2027

25,000

26,613

Realogy

Group

LLC

/

Realogy

Co.-Issuer

Corp.

4.88%,

6/01/2023

(a)

25,000

25,993

7.63%,

6/15/2025

(a)

10,000

10,921

9.38%,

4/01/2027

(a)

20,000

22,394

5.75%,

1/15/2029

(a)

45,000

46,674

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.,

4.75%,

10/15/2027

25,000

25,753

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Financial

–

9.6%

(continued)

SBA

Communications

Corp.

4.88%,

9/01/2024

20,000

20,477

3.88%,

2/15/2027

40,000

40,940

3.13%,

2/01/2029

(a)

50,000

47,910

Service

Properties

Trust

4.50%,

6/15/2023

10,000

10,207

4.65%,

3/15/2024

5,000

5,065

4.35%,

10/01/2024

20,000

19,950

4.50%,

3/15/2025

30,000

29,514

5.25%,

2/15/2026

20,000

20,104

4.95%,

2/15/2027

(b)

27,000

26,428

3.95%,

1/15/2028

30,000

27,718

4.95%,

10/01/2029

(b)

20,000

19,333

4.38%,

2/15/2030

20,000

18,597

SLM

Corp.

5.13%,

4/05/2022

16,000

16,379

4.20%,

10/29/2025

15,000

15,786

Starwood

Property

Trust,

Inc.,

4.75%,

3/15/2025

18,000

18,748

Synovus

Financial

Corp.,

5.90%,

2/07/2029

20,000

21,471

UniCredit

SpA

5.86%,

6/19/2032

(a)

25,000

27,755

7.30%,

4/02/2034

(a)

50,000

59,312

5.46%,

6/30/2035

(a)

50,000

53,826

United

Wholesale

Mortgage

LLC,

5.50%,

11/15/2025

(a)

20,000

20,786

Uniti

Group

LP

/

Uniti

Fiber

Holdings,

Inc.

/

CSL

Capital

LLC

7.13%,

12/15/2024

(a)

15,000

15,475

7.88%,

2/15/2025

(a)

60,000

64,635

Uniti

Group

LP

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC,

6.00%,

4/15/2023

(a)

5,000

5,076

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

3.50%,

2/15/2025

(a)

35,000

35,797

4.25%,

12/01/2026

(a)

55,000

56,868

3.75%,

2/15/2027

(a)

35,000

35,267

4.63%,

12/01/2029

(a)

15,000

15,595

4.13%,

8/15/2030

(a)

30,000

30,488

WeWork

Cos.,

Inc.,

7.88%,

5/01/2025

(a)

15,000

14,548

XHR

LP,

6.38%,

8/15/2025

(a)

20,000

21,224

4,343,469

Industrial

–

9.5%

Advanced

Drainage

Systems,

Inc.,

5.00%,

9/30/2027

(a)

10,000

10,517

AECOM,

5.13%,

3/15/2027

23,000

25,590

Amsted

Industries,

Inc.

5.63%,

7/01/2027

(a)

10,000

10,598

4.63%,

5/15/2030

(a)

15,000

15,338

Apex

Tool

Group

LLC

/

BC

Mountain

Finance,

Inc.,

9.00%,

2/15/2023

(a)(b)

5,000

4,996

Ard

Finance

SA,

6.50%,

6/30/2027

(a)(c)

20,000

20,941

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC,

4.00%,

9/01/2029

(a)

50,000

49,782

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA,

Inc.

5.25%,

4/30/2025

(a)

30,000

31,497

4.13%,

8/15/2026

(a)

100,000

102,865

5.25%,

8/15/2027

(a)

30,000

30,617

5.25%,

8/15/2027

(a)

50,000

51,122

96

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Industrial

–

9.5%

(continued)

Ball

Corp.

4.00%,

11/15/2023

30,000

31,839

5.25%,

7/01/2025

25,000

28,304

4.88%,

3/15/2026

23,000

25,803

2.88%,

8/15/2030

50,000

48,438

Berry

Global,

Inc.

4.50%,

2/15/2026

(a)(b)

15,000

15,362

5.63%,

7/15/2027

(a)

25,000

26,611

Boise

Cascade

Co.,

4.88%,

7/01/2030

(a)

15,000

15,898

Bombardier,

Inc.

6.00%,

10/15/2022

(a)

29,000

28,981

6.13%,

1/15/2023

(a)

8,000

8,382

7.50%,

12/01/2024

(a)

22,000

22,328

7.50%,

3/15/2025

(a)

35,000

34,976

7.88%,

4/15/2027

(a)

54,000

53,880

Brand

Industrial

Services,

Inc.,

8.50%,

7/15/2025

(a)

30,000

30,686

Brightstar

Escrow

Corp.,

9.75%,

10/15/2025

(a)

10,000

10,895

Builders

FirstSource,

Inc.

6.75%,

6/01/2027

(a)

30,000

32,273

5.00%,

3/01/2030

(a)

15,000

15,953

BWX

Technologies,

Inc.,

4.13%,

6/30/2028

(a)

10,000

10,198

Cargo

Aircraft

Management,

Inc.,

4.75%,

2/01/2028

(a)

15,000

15,354

Cascades,

Inc./Cascades

USA,

Inc.,

5.38%,

1/15/2028

(a)

15,000

15,654

Clean

Harbors,

Inc.

4.88%,

7/15/2027

(a)

21,000

21,887

5.13%,

7/15/2029

(a)

8,000

8,648

Cleaver-Brooks,

Inc.,

7.88%,

3/01/2023

(a)(b)

15,000

14,960

Colfax

Corp.,

6.38%,

2/15/2026

(a)

8,000

8,526

Cornerstone

Building

Brands,

Inc.,

6.13%,

1/15/2029

(a)

15,000

16,036

Covanta

Holding

Corp.,

6.00%,

1/01/2027

10,000

10,468

CP

Atlas

Buyer,

Inc.,

7.00%,

12/01/2028

(a)

15,000

15,567

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

IV,

4.50%,

1/15/2023

25,000

26,415

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

V,

4.25%,

9/30/2026

10,000

10,761

Crown

Cork

&

Seal

Co.,

Inc.,

7.38%,

12/15/2026

10,000

12,171

Energizer

Holdings,

Inc.

4.75%,

6/15/2028

(a)

15,000

15,333

4.38%,

3/31/2029

(a)

20,000

19,888

EnerSys

5.00%,

4/30/2023

(a)

23,000

24,110

4.38%,

12/15/2027

(a)

8,000

8,372

EnPro

Industries,

Inc.,

5.75%,

10/15/2026

10,000

10,583

Flex

Acquisition

Co.,

Inc.,

7.88%,

7/15/2026

(a)

20,000

20,915

Fluor

Corp.

3.50%,

12/15/2024

(b)

10,000

10,331

4.25%,

9/15/2028

(b)

35,000

35,979

Fly

Leasing

Ltd.,

5.25%,

10/15/2024

10,000

10,189

Forterra

Finance

LLC

/

Frta

Finance

Corp.,

6.50%,

7/15/2025

(a)

15,000

16,196

Fortress

Transportation

&

Infrastructure

Investors

LLC

6.50%,

10/01/2025

(a)

35,000

36,424

9.75%,

8/01/2027

(a)

25,000

28,916

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Industrial

–

9.5%

(continued)

Fortress

Transportation

And

Infrastructure

Investors

LLC,

5.50%,

5/01/2028

(a)

30,000

31,237

Frontdoor,

Inc.,

6.75%,

8/15/2026

(a)

20,000

21,213

FXI

Holdings,

Inc.

7.88%,

11/01/2024

(a)

20,000

20,700

12.25%,

11/15/2026

(a)

10,000

11,575

Gates

Global

LLC

/

Gates

Corp.,

6.25%,

1/15/2026

(a)

29,000

30,403

GFL

Environmental,

Inc.

4.25%,

6/01/2025

(a)

30,000

31,042

3.75%,

8/01/2025

(a)

20,000

20,345

5.13%,

12/15/2026

(a)

20,000

21,003

8.50%,

5/01/2027

(a)

10,000

10,989

4.00%,

8/01/2028

(a)(b)

15,000

14,354

3.50%,

9/01/2028

(a)

35,000

33,765

Graham

Packaging

Co.,

Inc.,

7.13%,

8/15/2028

(a)

15,000

16,109

Granite

US

Holdings

Corp.,

11.00%,

10/01/2027

(a)

10,000

11,223

Graphic

Packaging

International

LLC

4.88%,

11/15/2022

22,000

23,048

4.13%,

8/15/2024

10,000

10,752

4.75%,

7/15/2027

(a)

8,000

8,722

3.50%,

3/15/2028

(a)

31,000

30,943

Great

Lakes

Dredge

&

Dock

Corp.,

8.00%,

5/15/2022

10,000

10,018

Greif,

Inc.,

6.50%,

3/01/2027

(a)

45,000

47,641

Griffon

Corp.,

5.75%,

3/01/2028

30,000

32,016

Grinding

Media,

Inc.

/

Moly-Cop

AltaSteel

Ltd.,

7.38%,

12/15/2023

(a)

25,000

25,506

Harsco

Corp.,

5.75%,

7/31/2027

(a)

5,000

5,280

Hillenbrand,

Inc.

5.75%,

6/15/2025

15,000

16,134

5.00%,

9/15/2026

10,000

11,073

Hillman

Group,

Inc.

(The),

6.38%,

7/15/2022

(a)

13,000

13,011

Howmet

Aerospace,

Inc.

5.87%,

2/23/2022

25,000

26,149

5.13%,

10/01/2024

25,000

27,381

6.88%,

5/01/2025

35,000

40,597

5.90%,

2/01/2027

15,000

17,283

6.75%,

1/15/2028

45,000

53,953

5.95%,

2/01/2037

58,000

69,711

Husky

III

Holding

Ltd.,

13.00%,

2/15/2025

(a)(c)

5,000

5,452

Ingram

Micro,

Inc.

5.00%,

8/10/2022

15,000

15,518

5.45%,

12/15/2024

15,000

17,181

Intelligent

Packaging

Ltd.

Finco,

Inc.

/

Intelligent

Packaging

Ltd.

Co.-Issuer

LLC,

6.00%,

9/15/2028

(a)

20,000

20,704

Intertape

Polymer

Group,

Inc.,

7.00%,

10/15/2026

(a)

5,000

5,255

JELD-WEN,

Inc.

6.25%,

5/15/2025

(a)

10,000

10,689

4.88%,

12/15/2027

(a)

21,000

21,944

KBR,

Inc.,

4.75%,

9/30/2028

(a)

5,000

5,051

Kenan

Advantage

Group,

Inc.

(The),

7.88%,

7/31/2023

(a)

10,000

10,019

Koppers,

Inc.,

6.00%,

2/15/2025

(a)

20,000

20,557

Kratos

Defense

&

Security

Solutions,

Inc.,

6.50%,

11/30/2025

(a)

12,000

12,597

97

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Industrial

–

9.5%

(continued)

LABL

Escrow

Issuer

LLC

6.75%,

7/15/2026

(a)

25,000

26,931

10.50%,

7/15/2027

(a)(b)

20,000

22,092

LSB

Industries,

Inc.,

9.63%,

5/01/2023

(a)(b)

16,000

16,560

Manitowoc

Co.,

Inc.

(The),

9.00%,

4/01/2026

(a)

6,000

6,506

Masonite

International

Corp.

5.75%,

9/15/2026

(a)

6,000

6,233

5.38%,

2/01/2028

(a)

8,000

8,483

MasTec,

Inc.,

4.50%,

8/15/2028

(a)

20,000

20,923

Matthews

International

Corp.,

5.25%,

12/01/2025

(a)

23,000

23,855

Mauser

Packaging

Solutions

Holding

Co.

5.50%,

4/15/2024

(a)

73,000

73,245

7.25%,

4/15/2025

(a)

35,000

34,002

Moog,

Inc.,

4.25%,

12/15/2027

(a)

17,000

17,480

Mueller

Water

Products,

Inc.,

5.50%,

6/15/2026

(a)

26,000

26,854

New

Enterprise

Stone

&

Lime

Co.,

Inc.,

6.25%,

3/15/2026

(a)

20,000

20,671

Norbord,

Inc.

6.25%,

4/15/2023

(a)

6,000

6,507

5.75%,

7/15/2027

(a)

10,000

10,897

Owens-Brockway

Glass

Container,

Inc.

5.88%,

8/15/2023

(a)

20,000

21,743

6.38%,

8/15/2025

(a)

10,000

11,096

Pactiv

LLC

7.95%,

12/15/2025

6,000

6,677

8.38%,

4/15/2027

(b)

5,000

5,707

Park-Ohio

Industries,

Inc.,

6.63%,

4/15/2027

10,000

10,270

Patrick

Industries,

Inc.,

4.75%,

5/01/2029

(a)

190,000

190,769

Plastipak

Holdings,

Inc.,

6.25%,

10/15/2025

(a)(b)

10,000

10,274

Powerteam

Services

LLC,

9.03%,

12/04/2025

(a)

25,000

27,762

RBS

Global,

Inc.

/

Rexnord

LLC,

4.88%,

12/15/2025

(a)

25,000

25,580

Reynolds

Group

Issuer,

Inc.

/

Reynolds

Group

Issuer

LLC

/

Reynolds

Group

Issuer

Lu,

4.00%,

10/15/2027

(a)(b)

50,000

49,437

Rolls-Royce

PLC

3.63%,

10/14/2025

(a)

60,000

60,555

5.75%,

10/15/2027

(a)

20,000

21,510

Sealed

Air

Corp.

5.25%,

4/01/2023

(a)

15,000

15,900

5.13%,

12/01/2024

(a)

10,000

10,898

5.50%,

9/15/2025

(a)

15,000

16,614

4.00%,

12/01/2027

(a)

15,000

15,765

6.88%,

7/15/2033

(a)

13,000

16,326

Sensata

Technologies

BV

4.88%,

10/15/2023

(a)

15,000

16,097

5.63%,

11/01/2024

(a)

10,000

11,150

5.00%,

10/01/2025

(a)

20,000

22,200

Sensata

Technologies,

Inc.

4.38%,

2/15/2030

(a)

16,000

16,740

3.75%,

2/15/2031

(a)

20,000

19,869

Signature

Aviation

US

Holdings,

Inc.

5.38%,

5/01/2026

(a)

20,000

20,516

4.00%,

3/01/2028

(a)

20,000

20,208

Silgan

Holdings,

Inc.,

4.13%,

2/01/2028

20,000

20,666

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Industrial

–

9.5%

(continued)

Spirit

Aerosystems,

Inc.

7.50%,

4/15/2025

(a)

50,000

53,580

3.85%,

6/15/2026

10,000

10,354

Spirit

AeroSystems,

Inc.,

3.95%,

6/15/2023

(b)

22,000

21,787

SPX

FLOW,

Inc.,

5.88%,

8/15/2026

(a)

12,000

12,474

SSL

Robotics

LLC,

9.75%,

12/31/2023

(a)

12,000

13,378

Standard

Industries,

Inc.

5.00%,

2/15/2027

(a)

25,000

25,782

4.75%,

1/15/2028

(a)

10,000

10,310

4.38%,

7/15/2030

(a)

35,000

35,095

3.38%,

1/15/2031

(a)

30,000

28,116

Stericycle,

Inc.

5.38%,

7/15/2024

(a)

20,000

20,648

3.88%,

1/15/2029

(a)

15,000

14,991

Stevens

Holding

Co.,

Inc.,

6.13%,

10/01/2026

(a)

5,000

5,388

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

5.13%,

6/01/2025

(a)

5,000

5,075

6.50%,

3/15/2027

(a)

25,000

26,453

5.25%,

1/15/2029

(a)

5,000

5,273

Teekay

Corp.,

9.25%,

11/15/2022

(a)

15,000

15,306

Teekay

Offshore

Partners

LP/Teekay

Offshore

Finance

Corp.,

8.50%,

7/15/2023

(a)

20,000

18,253

Terex

Corp.,

5.00%,

5/15/2029

(a)

40,000

41,619

Tervita

Corp.,

11.00%,

12/01/2025

(a)

15,000

16,985

Titan

Acquisition

Ltd.

/

Titan

Co.-Borrower

LLC,

7.75%,

4/15/2026

(a)

20,000

20,761

Topbuild

Corp.,

3.63%,

3/15/2029

(a)

30,000

29,831

TransDigm,

Inc.

6.50%,

5/15/2025

35,000

35,586

8.00%,

12/15/2025

(a)

55,000

59,750

6.25%,

3/15/2026

(a)

95,000

100,589

6.38%,

6/15/2026

25,000

25,913

7.50%,

3/15/2027

30,000

32,206

5.50%,

11/15/2027

35,000

36,407

4.63%,

1/15/2029

(a)

30,000

29,602

Trident

TPI

Holdings,

Inc.

9.25%,

8/01/2024

(a)

5,000

5,314

6.63%,

11/01/2025

(a)(b)

25,000

25,525

Trinity

Industries,

Inc.,

4.55%,

10/01/2024

15,000

15,834

Triumph

Group,

Inc.

5.25%,

6/01/2022

(b)

20,000

19,847

6.25%,

9/15/2024

(a)

20,000

20,219

7.75%,

8/15/2025

(b)

18,000

17,875

Trivium

Packaging

Finance

BV,

5.50%,

8/15/2026

(a)

20,000

20,911

Tutor

Perini

Corp.,

6.88%,

5/01/2025

(a)(b)

20,000

20,643

US

Concrete,

Inc.

6.38%,

6/01/2024

9,000

9,179

5.13%,

3/01/2029

(a)

5,000

5,167

Vertical

Holdco

GMBH,

7.63%,

7/15/2028

(a)

10,000

10,898

Vertical

US

Newco,

Inc.,

5.25%,

7/15/2027

(a)

50,000

52,479

Waste

Pro

USA,

Inc.,

5.50%,

2/15/2026

(a)

12,000

12,294

Watco

Cos.

LLC

/

Watco

Finance

Corp.,

6.50%,

6/15/2027

(a)

10,000

10,668

Weekley

Homes

LLC

/

Weekley

Finance

Corp.,

4.88%,

9/15/2028

(a)

20,000

20,746

Welbilt,

Inc.,

9.50%,

2/15/2024

(b)

5,000

5,257

98

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Industrial

–

9.5%

(continued)

Werner

FinCo

LP

/

Werner

FinCo,

Inc.,

8.75%,

7/15/2025

(a)

5,000

5,266

WESCO

Distribution,

Inc.

5.38%,

6/15/2024

15,000

15,289

7.13%,

6/15/2025

(a)

40,000

43,301

7.25%,

6/15/2028

(a)

35,000

38,832

XPO

CNW,

Inc.,

6.70%,

5/01/2034

10,000

11,892

XPO

Logistics,

Inc.

6.75%,

8/15/2024

(a)

43,000

45,106

6.25%,

5/01/2025

(a)

10,000

10,711

4,276,829

Technology

–

4.4%

Ams

AG,

7.00%,

7/31/2025

(a)

10,000

10,660

Ascend

Learning

LLC

6.88%,

8/01/2025

(a)

10,000

10,216

6.88%,

8/01/2025

(a)

10,000

10,243

Banff

Merger

Sub,

Inc.,

9.75%,

9/01/2026

(a)

70,000

74,340

Black

Knight

Infoserv

LLC,

3.63%,

9/01/2028

(a)

30,000

29,482

Blackboard,

Inc.,

10.38%,

11/15/2024

(a)

18,000

18,968

Booz

Allen

Hamilton,

Inc.,

3.88%,

9/01/2028

(a)

20,000

20,052

Boxer

Parent

Co.,

Inc.,

7.13%,

10/02/2025

(a)(b)

20,000

21,504

BY

Crown

Parent

LLC

/

By

Bond

Finance,

Inc.,

4.25%,

1/31/2026

(a)

38,000

39,804

Camelot

Finance

SA,

4.50%,

11/01/2026

(a)

15,000

15,591

Castle

US

Holding

Corp.,

9.50%,

2/15/2028

(a)

10,000

10,291

CDK

Global,

Inc.

5.00%,

10/15/2024

25,000

27,517

5.25%,

5/15/2029

(a)

15,000

16,178

CDW

LLC

/

CDW

Finance

Corp.

5.50%,

12/01/2024

17,000

18,736

4.25%,

4/01/2028

35,000

36,429

3.25%,

2/15/2029

40,000

39,654

Dell

International

LLC

/

EMC

Corp.,

7.13%,

6/15/2024

(a)

60,000

61,676

Dell,

Inc.

6.50%,

4/15/2038

7,000

8,787

5.40%,

9/10/2040

(b)

14,000

16,042

Diebold

Nixdorf,

Inc.

8.50%,

4/15/2024

(b)

10,000

10,240

9.38%,

7/15/2025

(a)

10,000

11,128

Donnelley

Financial

Solutions,

Inc.,

8.25%,

10/15/2024

13,000

13,637

Dun

&

Bradstreet

Corp.

(The)

6.88%,

8/15/2026

(a)

12,000

12,794

10.25%,

2/15/2027

(a)

10,000

11,082

EMC

Corp.,

3.38%,

6/01/2023

27,000

27,987

Entegris,

Inc.

4.63%,

2/10/2026

(a)

25,000

25,867

4.38%,

4/15/2028

(a)

10,000

10,510

Exela

Intermediate

LLC

/

Exela

Finance,

Inc.,

10.00%,

7/15/2023

(a)

25,000

8,961

Granite

Merger

Sub

2,

Inc.,

11.00%,

7/15/2027

(a)

10,000

11,514

j2

Global,

Inc.,

4.63%,

10/15/2030

(a)

25,000

25,598

Microchip

Technology,

Inc.,

4.25%,

9/01/2025

(a)

50,000

52,412

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Technology

–

4.4%

(continued)

MSCI,

Inc.

5.38%,

5/15/2027

(a)

15,000

16,052

4.00%,

11/15/2029

(a)

25,000

26,176

3.63%,

9/01/2030

(a)

12,000

12,224

3.88%,

2/15/2031

(a)

40,000

41,057

NCR

Corp.

8.13%,

4/15/2025

(a)

25,000

27,363

5.00%,

10/01/2028

(a)

20,000

20,639

6.13%,

9/01/2029

(a)

11,000

11,977

5.25%,

10/01/2030

(a)

25,000

25,888

Nuance

Communications,

Inc.,

5.63%,

12/15/2026

30,000

31,507

Open

Text

Corp.

5.88%,

6/01/2026

(a)

45,000

46,463

3.88%,

2/15/2028

(a)

40,000

40,512

Open

Text

Holdings,

Inc.,

4.13%,

2/15/2030

(a)

45,000

45,483

Presidio

Holdings,

Inc.

4.88%,

2/01/2027

(a)

15,000

15,475

8.25%,

2/01/2028

(a)

15,000

16,398

PTC,

Inc.

3.63%,

2/15/2025

(a)

30,000

30,764

4.00%,

2/15/2028

(a)

7,000

7,183

Qorvo,

Inc.,

4.38%,

10/15/2029

35,000

38,002

Rackspace

Technology

Global,

Inc.

3.50%,

2/15/2028

(a)

15,000

14,533

5.38%,

12/01/2028

(a)(b)

15,000

15,329

Rocket

Software,

Inc.,

6.50%,

2/15/2029

(a)

20,000

20,253

Seagate

HDD

Cayman

4.75%,

6/01/2023

20,000

21,490

4.88%,

3/01/2024

50,000

53,975

4.75%,

1/01/2025

20,000

21,857

4.88%,

6/01/2027

20,000

22,208

4.09%,

6/01/2029

(a)

20,000

20,534

3.13%,

7/15/2029

(a)

15,000

14,435

4.13%,

1/15/2031

(a)

74,000

75,029

5.75%,

12/01/2034

(b)

20,000

22,906

SS&C

Technologies,

Inc.,

5.50%,

9/30/2027

(a)

85,000

90,209

Tempo

Acquisition

LLC

/

Tempo

Acquisition

Finance

Corp.,

6.75%,

6/01/2025

(a)

30,000

30,549

Unisys

Corp.,

6.88%,

11/01/2027

(a)

20,000

22,000

Vericast

Corp.,

8.38%,

8/15/2022

(a)

40,000

40,791

Vericast

Corp./Harland

Clarke/Checks

In

The

Mail/Valassis

Comm/Valassis

Direct,

12.50%,

5/01/2024

(a)

25,000

26,145

Veritas

US,

Inc.

/

Veritas

Bermuda

Ltd.

10.50%,

2/01/2024

(a)

40,000

41,004

7.50%,

9/01/2025

(a)

40,000

41,524

Western

Digital

Corp.,

4.75%,

2/15/2026

75,000

83,159

Xerox

Corp.

4.38%,

3/15/2023

21,000

21,970

3.80%,

5/15/2024

(b)

8,000

8,325

4.80%,

3/01/2035

8,000

7,944

6.75%,

12/15/2039

26,000

28,841

Xerox

Holdings

Corp.

5.00%,

8/15/2025

(a)

20,000

21,027

5.50%,

8/15/2028

(a)

40,000

41,805

1,968,905

99

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Utilities

–

2.5%

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp.

5.63%,

5/20/2024

7,000

7,803

5.50%,

5/20/2025

20,000

22,204

Calpine

Corp.

5.25%,

6/01/2026

(a)

39,000

40,024

4.50%,

2/15/2028

(a)

36,000

36,367

5.13%,

3/15/2028

(a)

50,000

50,814

4.63%,

2/01/2029

(a)

30,000

29,594

5.00%,

2/01/2031

(a)

25,000

24,611

3.75%,

3/01/2031

(a)

30,000

28,590

DPL,

Inc.

4.13%,

7/01/2025

10,000

10,510

4.35%,

4/15/2029

27,000

29,250

FirstEnergy

Corp.

Series

A,

3.35%,

7/15/2022

20,000

20,431

Series

B,

4.75%,

3/15/2023

30,000

31,762

2.05%,

3/01/2025

25,000

25,199

Series

A,

1.60%,

1/15/2026

10,000

9,744

Series

B,

4.40%,

7/15/2027

53,000

58,048

2.65%,

3/01/2030

25,000

24,494

Series

B,

2.25%,

9/01/2030

15,000

14,121

Series

C,

7.38%,

11/15/2031

45,000

60,945

Series

C,

5.35%,

7/15/2047

35,000

40,630

Series

C,

3.40%,

3/01/2050

35,000

32,153

FirstEnergy

Transmission

LLC

4.35%,

1/15/2025

(a)

30,000

32,724

5.45%,

7/15/2044

(a)

25,000

30,239

4.55%,

4/01/2049

(a)

15,000

16,698

NextEra

Energy

Operating

Partners

LP

4.25%,

7/15/2024

(a)

30,000

31,827

3.88%,

10/15/2026

(a)

12,000

12,562

4.50%,

9/15/2027

(a)

10,000

10,814

NRG

Energy,

Inc.

7.25%,

5/15/2026

29,000

30,082

6.63%,

1/15/2027

35,000

36,459

5.75%,

1/15/2028

10,000

10,620

5.25%,

6/15/2029

(a)

30,000

32,136

3.63%,

2/15/2031

(a)

20,000

19,596

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations,

Inc.,

4.50%,

8/15/2028

(a)

15,000

15,229

PG&E

Corp.,

5.25%,

7/01/2030

30,000

32,026

Pike

Corp.,

5.50%,

9/01/2028

(a)

15,000

15,520

Rockpoint

Gas

Storage

Canada

Ltd.,

7.00%,

3/31/2023

(a)

10,000

10,130

Talen

Energy

Supply

LLC

6.50%,

6/01/2025

(b)

20,000

16,642

10.50%,

1/15/2026

(a)

20,000

18,381

7.25%,

5/15/2027

(a)

20,000

20,551

6.63%,

1/15/2028

(a)

15,000

15,169

7.63%,

6/01/2028

(a)

15,000

15,563

Terraform

Global

Operating

LLC,

6.13%,

3/01/2026

(a)

20,000

20,543

TransAlta

Corp.

4.50%,

11/15/2022

10,000

10,413

6.50%,

3/15/2040

5,000

5,740

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

98.2%

(continued)

Utilities

–

2.5%

(continued)

Vistra

Operations

Co.

LLC

5.50%,

9/01/2026

(a)

28,000

28,940

5.63%,

2/15/2027

(a)

36,000

37,480

5.00%,

7/31/2027

(a)

20,000

20,717

1,144,095

Total

Corporate

Bonds

(cost

$42,484,597)

44,296,313

Shares

Investment

Companies

–

0.5%

Registered

Investment

Companies

–

0.5%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$203,009)

203,009

203,009

Investment

of

Cash

Collateral

for

Securities

Loaned

–

3.1%

Registered

Investment

Companies

–

3.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.01%

(f)(g)

(cost

$1,411,270)

1,411,270

1,411,270

Total

Investments

(cost

$44,098,876)

101.8%

45,910,592

Liabilities,

Less

Cash

and

Receivables

(1.8)%

(805,610)

Net

Assets

100.0%

45,104,982

REIT—Real

Estate

Investment

Trust

100

STATEMENT

OF

INVESTMENTS

(continued)

(a)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

April

30,

2021,

these

securities

were

valued

at

$27,333,362

or

60.60%

of

net

assets.

(b)

Security,

or

portion

thereof,

on

loan.

At

April

30,

2021,

the

value

of

the

fund’s

securities

on

loan

was

$2,109,735

and

the

value

of

the

collateral

was

$2,190,918,

consisting

of

cash

collateral

of

$1,411,270

and

U.S.

Government

&

Agency

securities

valued

at

$779,648.

(c)

All

or

a

portion

of

this

security

is

Pay-in-Kind.

Pay-in-Kind

securities

pay

interest

income

in

the

form

of

securities.

(d)

Step

coupon

bond.

The

interest

rate

represents

the

coupon

rate

at

which

the

bond

will

accrue

at

a

specified

future

date.

(e)

Perpetual

bond

with

no

specified

maturity

date.

(f)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

April

30,

2021

are

as

follows:

(g)

The

rate

shown

is

the

1-day

yield

as

of

April

30,

2021.

See

Notes

to

Financial

Statements

Description

Value

10/31/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

4/30/21

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

707,896

6,061,352

(6,566,239)

—

—

203,009

0.5

63

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

1,613,009

4,502,809

(4,704,548)

—

—

1,411,270

3.1

4,899

2

Total

2,320,905

10,564,161

(11,270,787)

—

—

1,614,279

3.6

4,962

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Consumer,

Cyclical

22.6

Communications

16.6

Consumer,

Non-cyclical

16.2

Energy

12.1

Financial

9.6

Industrial

9.5

Basic

Materials

4.6

Technology

4.4

Registered

Investment

Companies

3.6

Utilities

2.5

Diversified

0.1

101.8

†

Based

on

net

assets.

Centrally

Cleared

Credit

Default

Swaps

Reference

Obligation

Maturity

Date

Notional

Amount

($)

(1)

Market

Value

($)

Upfront

Payments/

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Sold

Contracts

(2)

CDX

North

American

High

Yield

Swap

6/20/2026

1,050,000

109,301

97,393

11,908

(1)

The

maximum

potential

amount

the

fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

as

defined

under

the

terms

of

the

swap

agreement.

(2)

If

the

fund

is

a

seller

of

protection

and

a

credit

event

occurs,

as

defined

under

the

terms

of

the

swap

agreement,

the

fund

will

either

(i)

pay

to

the

buyer

of

protection

an

amount

equal

to

the

notional

amount

of

the

swap

and

take

delivery

of

the

reference

obligation

or

(ii)

pay

a

net

settlement

amount

in

the

form

of

cash

or

securities

equal

to

the

notional

amount

of

the

swap

less

the

recovery

value

of

the

reference

obligation.

101

STATEMENTS

OF

ASSETS

AND

LIABILITIES

April

30,

2021

(Unaudited)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

–

Unaffiliated

issuers

286,413,661‌

105,114,201‌

136,185,195‌

Affiliated

issuers

171,377‌

440,855‌

1,299,971‌

Dividends

receivable

212,655‌

43,219‌

26,570‌

Tax

reclaim

receivable—Note

2(b)

1,636‌

97‌

310‌

Securities

lending

income

receivable

507‌

723‌

1,881‌

286,799,836‌

105,599,095‌

137,513,927‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

3,382‌

4,342‌

Liability

for

securities

on

loan—Note

2(c)

47,936‌

369,462‌

1,224,797‌

Payable

for

futures

variation

margin—Note

4

1,450‌

—‌

—‌

49,386‌

372,844‌

1,229,139‌

Net

Assets

($)

286,750,450‌

105,226,251‌

136,284,788‌

Composition

of

Net

Assets

($):

Paid-in

capital

242,534,357‌

79,733,799‌

105,006,884‌

Total

distributable

earnings

(loss)

44,216,093‌

25,492,452‌

31,277,904‌

Net

Assets

($)

286,750,450‌

105,226,251‌

136,284,788‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

3,650,000‌

1,200,000‌

1,400,000‌

Net

asset

value

per

share

78.56‌

87.69‌

97.35‌

Market

price

per

share

78.53‌

87.71‌

97.37‌

†

Investments

at

cost

($)

Unaffiliated

issuers

253,271,774‌

82,084,226‌

109,190,312‌

Affiliated

issuers

171,377‌

440,855‌

1,299,971‌

††

Value

of

securities

on

loan

($)

5,573,216‌

5,734,046‌

14,559,623‌

102

STATEMENTS

OF

ASSETS

AND

LIABILITIES

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

Unaffiliated

issuers

42,727,865‌

41,306,526‌

Affiliated

issuers

23,416‌

33,688‌

Cash

denominated

in

foreign

currency

†††

47,464‌

39,463‌

Dividends

receivable

132,866‌

33,184‌

Tax

reclaim

receivable—Note

2(b)

47,294‌

323‌

Receivable

for

investment

securities

sold

8,341‌

—‌

Securities

lending

income

receivable

1‌

37‌

42,987,247‌

41,413,221‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

1,407‌

3,736‌

Payable

for

investment

securities

purchased

40,351‌

7,288‌

Payable

for

futures

variation

margin—Note

4

1,505‌

1,165‌

Payable

for

foreign

capital

gains

tax—Note

2(b)

—‌

26,946‌

43,263‌

39,135‌

Net

Assets

($)

42,943,984‌

41,374,086‌

Composition

of

Net

Assets

($):

Paid-in

capital

30,760,790‌

27,930,860‌

Total

distributable

earnings

(loss)

12,183,194‌

13,443,226‌

Net

Assets

($)

42,943,984‌

41,374,086‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

600,000‌

550,000‌

Net

asset

value

per

share

71.57‌

75.23‌

Market

price

per

share

71.68‌

75.36‌

†

Investments

at

cost

($)

Unaffiliated

issuers

30,897,872‌

29,749,258‌

Affiliated

issuers

23,416‌

33,688‌

††

Value

of

securities

on

loan

($)

—‌

374,400‌

†††

Cash

denominated

in

foreign

currency

(cost)

($)

47,459‌

39,370‌

103

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

–

Unaffiliated

issuers

83,425,405‌

33,057,838‌

44,296,313‌

Affiliated

issuers

6,824,831‌

384,627‌

1,614,279‌

Cash

590,238‌

—‌

—‌

Collateral

with

brokers

for

swap

agreements

—‌

—‌

152,647‌

Receivable

for

investment

securities

sold—TBA

1,240,550‌

—‌

—‌

Receivable

for

investment

securities

sold

1,128,431‌

1,199,047‌

967,663‌

Interest

receivable

391,206‌

238,513‌

640,390‌

Securities

lending

income

receivable

284‌

27‌

780‌

Dividends

receivable

42‌

3‌

7‌

93,600,987‌

34,880,055‌

47,672,079‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

1,551‌

8,429‌

TBA

sale

commitments

at

value—Note

4

†††

429,289‌

—‌

—‌

Liability

for

securities

on

loan—Note

2(c)

891,874‌

113,650‌

1,411,270‌

Payable

for

investment

securities

purchased—TBA

7,249,523‌

—‌

—‌

Payable

for

investment

securities

purchased

1,500,983‌

1,370,463‌

1,146,281‌

Payable

for

swaps

variation

margin—Note

4

—‌

—‌

1,117‌

10,071,669‌

1,485,664‌

2,567,097‌

Net

Assets

($)

83,529,318‌

33,394,391‌

45,104,982‌

Composition

of

Net

Assets

($):

Paid-in

capital

84,863,897‌

32,773,146‌

40,293,690‌

Total

distributable

earnings

(loss)

(1,334,579‌)

621,245‌

4,811,292‌

Net

Assets

($)

83,529,318‌

33,394,391‌

45,104,982‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

1,700,000‌

650,000‌

800,000‌

Net

asset

value

per

share

49.13‌

51.38‌

56.38‌

Market

price

per

share

49.18‌

51.42‌

56.46‌

†

Investments

at

cost

($)

Unaffiliated

issuers

84,377,891‌

32,579,179‌

42,484,597‌

Affiliated

issuers

6,824,831‌

384,627‌

1,614,279‌

††

Value

of

securities

on

loan

($)

5,027,604‌

454,534‌

2,109,735‌

†††

TBA

sale

commitments

proceeds

($)

428,204‌

—‌

—‌

104

STATEMENTS

OF

OPERATIONS

April

30,

2021

(Unaudited)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

1,324,630‌

533,423‌

601,095‌

Affiliated

issuers

12‌

7‌

9‌

Interest

1‌

—‌

1‌

Income

from

securities

lending—Note

2(c)

3,526‌

3,438‌

14,092‌

Total

Income

1,328,169‌

536,868‌

615,197‌

Expenses:

Management

fees—Note

3(a)

—‌

14,743‌

16,930‌

Total

Expenses

—‌

14,743‌

16,930‌

Investment

Income—Net

1,328,169‌

522,125‌

598,267‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(354,880‌)

(90,263‌)

487,374‌

Net

realized

gain

(loss)

on

in-kind

redemptions

11,534,743‌

2,598,803‌

4,121,047‌

Net

realized

gain

(loss)

on

futures

5,453‌

6,273‌

7,057‌

Net

realized

gain

(loss)

11,185,316‌

2,514,813‌

4,615,478‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

27,800,603‌

15,335,788‌

18,405,665‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

12,073‌

—‌

—‌

Net

change

in

unrealized

appreciation

(depreciation)

27,812,676‌

15,335,788‌

18,405,665‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

38,997,992‌

17,850,601‌

23,021,143‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

40,326,161‌

18,372,726‌

23,619,410‌

†

Net

of

foreign

taxes

withheld

at

source

($)

203‌

–‌

188‌

105

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

541,662‌

264,677‌

Affiliated

issuers

9‌

16‌

Interest

19‌

16‌

Income

from

securities

lending—Note

2(c)

20‌

810‌

Total

Income

541,710‌

265,519‌

Expenses:

Management

fees—Note

3(a)

8,068‌

22,226‌

Total

Expenses

8,068‌

22,226‌

Investment

Income—Net

533,642‌

243,293‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

5,258‌

160,951‌

Net

realized

gain

(loss)

on

in-kind

redemptions

441,870‌

1,912,348‌

Net

realized

gain

(loss)

on

futures

30,459‌

19,169‌

Net

realized

gain

(loss)

477,587‌

2,092,468‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

8,566,932‌

5,048,897‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

15,620‌

1,437‌

Net

change

in

unrealized

appreciation

(depreciation)

8,582,552‌

5,050,334‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

9,060,139‌

7,142,802‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

9,593,781‌

7,386,095‌

†

Net

of

foreign

taxes

withheld

at

source

($)

66,341‌

43,331‌

106

STATEMENTS

OF

OPERATIONS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

228‌

16‌

63‌

Interest

281,443‌

231,441‌

1,221,894‌

Income

from

securities

lending—Note

2(c)

1,145‌

165‌

4,899‌

Total

Income

282,816‌

231,622‌

1,226,856‌

Expenses:

Management

fees—Note

3(a)

—‌

8,879‌

49,654‌

Total

Expenses

—‌

8,879‌

49,654‌

Investment

Income—Net

282,816‌

222,743‌

1,177,202‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(161,202‌)

105,920‌

702,089‌

Net

realized

gain

(loss)

on

in-kind

redemptions

(36,993‌)

—‌

2,013,545‌

Net

realized

gain

(loss)

on

swap

agreements

—‌

—‌

91,807‌

Net

realized

gain

(loss)

(198,195‌)

105,920‌

2,807,441‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(902,053‌)

(125,730‌)

(85,041‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

swap

agreements

—‌

—‌

28,644‌

Net

change

in

unrealized

appreciation

(depreciation)

(902,053‌)

(125,730‌)

(56,397‌)

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

(1,100,248‌)

(19,810‌)

2,751,044‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

(817,432‌)

202,933‌

3,928,246‌

107

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

1,328,169‌

489,872‌

522,125‌

274,647‌

Net

realized

gain

(loss)

on

investments

11,185,316‌

(191,270‌)

2,514,813‌

568,627‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

27,812,676‌

5,341,284‌

15,335,788‌

7,694,187‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

40,326,161‌

5,639,886‌

18,372,726‌

8,537,461‌

Distributions

($):

Distributable

earnings

(1,159,445‌)

(386,114‌)

(424,767‌)

(255,842‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

191,387,308‌

90,618,689‌

55,636,259‌

34,179,337‌

Cost

of

shares

redeemed

(36,848,635‌)

(2,927,400‌)

(7,753,536‌)

(3,065,387‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

154,538,673‌

87,691,289‌

47,882,723‌

31,113,950‌

Total

Increase

(Decrease)

in

Net

Assets

193,705,389‌

92,945,061‌

65,830,682‌

39,395,569‌

Net

Assets

($):

Beginning

of

Period

93,045,061‌

100,000‌

39,395,569‌

—‌

End

of

Period

286,750,450‌

93,045,061‌

105,226,251‌

39,395,569‌

Changes

in

Shares

Outstanding:

Initial

shares

—‌

2,000‌

—‌

—‌

Shares

sold

2,650,000‌

1,550,000‌

700,000‌

650,020‌

Shares

redeemed

(502,000‌)

(50,000‌)

(100,020‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

2,148,000‌

1,502,000‌

599,980‌

600,020‌

(a)

Commencement

of

operations.

108

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BNY

Mellon

International

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

598,267‌

291,710‌

533,642‌

415,949‌

Net

realized

gain

(loss)

on

investments

4,615,478‌

1,496,139‌

477,587‌

(86,219‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

18,405,665‌

8,589,218‌

8,582,552‌

3,252,631‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

23,619,410‌

10,377,067‌

9,593,781‌

3,582,361‌

Distributions

($):

Distributable

earnings

(519,310‌)

(277,635‌)

(488,106‌)

(384,266‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

81,256,093‌

36,466,319‌

6,357,760‌

30,487,825‌

Cost

of

shares

redeemed

(8,373,598‌)

(6,263,558‌)

(3,353,413‌)

(2,851,958‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

72,882,495‌

30,202,761‌

3,004,347‌

27,635,867‌

Total

Increase

(Decrease)

in

Net

Assets

95,982,595‌

40,302,193‌

12,110,022‌

30,833,962‌

Net

Assets

($):

Beginning

of

Period

40,302,193‌

—‌

30,833,962‌

—‌

End

of

Period

136,284,788‌

40,302,193‌

42,943,984‌

30,833,962‌

Changes

in

Shares

Outstanding:

Shares

sold

900,000‌

700,020‌

100,000‌

600,020‌

Shares

redeemed

(100,020‌)

(100,000‌)

(50,020‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

799,980‌

600,020‌

49,980‌

550,020‌

(a)

Commencement

of

operations.

109

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

243,293‌

438,617‌

282,816‌

195,469‌

Net

realized

gain

(loss)

on

investments

2,092,468‌

231,047‌

(198,195‌)

4,042‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

5,050,334‌

6,480,321‌

(902,053‌)

(51,518‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

7,386,095‌

7,149,985‌

(817,432‌)

147,993‌

Distributions

($):

Distributable

earnings

(391,946‌)

(418,648‌)

(431,913‌)

(229,445‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

7,633,866‌

30,459,085‌

41,971,583‌

45,329,228‌

Cost

of

shares

redeemed

(7,604,672‌)

(2,839,679‌)

(2,440,696‌)

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

29,194‌

27,619,406‌

39,530,887‌

45,329,228‌

Total

Increase

(Decrease)

in

Net

Assets

7,023,343‌

34,350,743‌

38,281,542‌

45,247,776‌

Net

Assets

($):

Beginning

of

Period

34,350,743‌

—‌

45,247,776‌

—‌

End

of

Period

41,374,086‌

34,350,743‌

83,529,318‌

45,247,776‌

Changes

in

Shares

Outstanding:

Shares

sold

100,000‌

600,020‌

850,000‌

900,020‌

Shares

redeemed

(100,020‌)

(50,000‌)

(50,020‌)

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

(20‌)

550,020‌

799,980‌

900,020‌

(a)

Commencement

of

operations.

110

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Operations

($):

Investment

income—net

222,743‌

242,213‌

1,177,202‌

1,394,661‌

Net

realized

gain

(loss)

on

investments

105,920‌

111,233‌

2,807,441‌

273,256‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(125,730‌)

604,389‌

(56,397‌)

1,880,021‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

202,933‌

957,835‌

3,928,246‌

3,547,938‌

Distributions

($):

Distributable

earnings

(335,625‌)

(203,898‌)

(1,522,448‌)

(1,142,444‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

5,148,480‌

27,625,690‌

22,368,765‌

51,656,440‌

Cost

of

shares

redeemed

(1,024‌)

—‌

(33,731,515‌)

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

5,147,456‌

27,625,690‌

(11,362,750‌)

51,656,440‌

Total

Increase

(Decrease)

in

Net

Assets

5,014,764‌

28,379,627‌

(8,956,952‌)

54,061,934‌

Net

Assets

($):

Beginning

of

Period

28,379,627‌

—‌

54,061,934‌

—‌

End

of

Period

33,394,391‌

28,379,627‌

45,104,982‌

54,061,934‌

Changes

in

Shares

Outstanding:

Shares

sold

100,000‌

550,020‌

400,000‌

1,000,020‌

Shares

redeemed

(20‌)

—‌

(600,020‌)

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

99,980‌

550,020‌

(200,020‌)

1,000,020‌

(a)

Commencement

of

operations.

111

FINANCIAL

HIGHLIGHTS

The

following

tables

describe

the

performance

for

the

fiscal

periods

indicated

and

these

figures

have

been

derived

from

the

funds’

financial

statements.

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

61.95‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.52‌

0.56‌

Net

realized

and

unrealized

gain

(loss)

on

investments

16.48‌

11.81‌

Total

from

Investment

Operations

17.00‌

12.37‌

Distributions:

Dividends

from

investment

income—net

(0.39‌)

(0.42‌)

Net

asset

value,

end

of

period

78.56‌

61.95‌

Market

price,

end

of

period

(c)

78.53‌

61.82‌

Net

Asset

Value

Total

Return

(%)

(d)

27.50‌

24.76‌

Market

Price

Total

Return

(%)

(d)

27.71‌

24.50‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(e)

–‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.43‌

(e)

1.63‌

(e)

Portfolio

Turnover

Rate

(f)

4.17‌

10.62‌

Net

Assets,

end

of

period

($

x

1,000)

286,750‌

93,045‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

112

See

Notes

to

Financial

Statements

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

65.66‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.57‌

0.50‌

Net

realized

and

unrealized

gain

(loss)

on

investments

21.88‌

15.63‌

Total

from

Investment

Operations

22.45‌

16.13‌

Distributions:

Dividends

from

investment

income—net

(0.42‌)

(0.47‌)

Net

asset

value,

end

of

period

87.69‌

65.66‌

Market

price,

end

of

period

(c)

87.71‌

65.55‌

Net

Asset

Value

Total

Return

(%)

(d)

34.25‌

32.27‌

Market

Price

Total

Return

(%)

(d)

34.51‌

32.06‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(e)

0.04‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.41‌

(e)

1.43‌

(e)

Portfolio

Turnover

Rate

(f)

11.65‌

21.26‌

Net

Assets,

end

of

period

($

x

1,000)

105,226‌

39,396‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

113

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

9,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

67.17‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.63‌

0.49‌

Net

realized

and

unrealized

gain

(loss)

on

investments

30.03‌

17.14‌

Total

from

Investment

Operations

30.66‌

17.63‌

Distributions:

Dividends

from

investment

income—net

(0.48‌)

(0.46‌)

Net

asset

value,

end

of

period

97.35‌

67.17‌

Market

price,

end

of

period

(c)

97.37‌

67.03‌

Net

Asset

Value

Total

Return

(%)

(d)

45.70‌

35.30‌

Market

Price

Total

Return

(%)

(d)

46.06‌

35.03‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(e)

0.04‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.41‌

(e)

1.37‌

(e)

Portfolio

Turnover

Rate

(f)

15.45‌

32.54‌

Net

Assets,

end

of

period

($

x

1,000)

136,285‌

40,302‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

114

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

56.06‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.89‌

0.76‌

Net

realized

and

unrealized

gain

(loss)

on

investments

15.43‌

6.00‌

Total

from

Investment

Operations

16.32‌

6.76‌

Distributions:

Dividends

from

investment

income—net

(0.81‌)

(0.70‌)

Net

asset

value,

end

of

period

71.57‌

56.06‌

Market

price,

end

of

period

(c)

71.68‌

56.66‌

Net

Asset

Value

Total

Return

(%)

(d)

29.18‌

13.49‌

Market

Price

Total

Return

(%)

(d)

28.00‌

14.69‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

(e)

0.04‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

2.65‌

(e)

2.55‌

(e)

Portfolio

Turnover

Rate

(f)

6.11‌

12.82‌

Net

Assets,

end

of

period

($

x

1,000)

42,944‌

30,834‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

115

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

62.45‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.44‌

0.81‌

Net

realized

and

unrealized

gain

(loss)

on

investments

13.05‌

12.40‌

Total

from

Investment

Operations

13.49‌

13.21‌

Distributions:

Dividends

from

investment

income—net

(0.71‌)

(0.76‌)

Net

asset

value,

end

of

period

75.23‌

62.45‌

Market

price,

end

of

period

(c)

75.36‌

62.92‌

Net

Asset

Value

Total

Return

(%)

(d)

21.65‌

26.52‌

Market

Price

Total

Return

(%)

(d)

20.95‌

27.44‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.11‌

(e)

0.11‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.20‌

(e)

2.63‌

(e)

Portfolio

Turnover

Rate

(f)

8.45‌

12.84‌

Net

Assets,

end

of

period

($

x

1,000)

41,374‌

34,351‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

116

ine

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.27‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.25‌

0.32‌

Net

realized

and

unrealized

gain

(loss)

on

investments

(0.98‌)

0.33‌

Total

from

Investment

Operations

(0.73‌)

0.65‌

Distributions:

Dividends

from

investment

income—net

(0.41‌)

(0.38‌)

Net

asset

value,

end

of

period

49.13‌

50.27‌

Market

price,

end

of

period

(c)

49.18‌

50.29‌

Net

Asset

Value

Total

Return

(%)

(d)

(1.45‌)

1.30‌

Market

Price

Total

Return

(%)

(d)

(1.39‌)

1.33‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

(e)

–‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.00‌

(e)

1.20‌

(e)

Portfolio

Turnover

Rate

(f)

40.13‌

27.32‌

Net

Assets,

end

of

period

($

x

1,000)

83,529‌

45,248‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

117

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

51.60‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

0.38‌

0.44‌

Net

realized

and

unrealized

gain

(loss)

on

investments

(0.01‌)

1.53‌

Total

from

Investment

Operations

0.37‌

1.97‌

Distributions:

Dividends

from

investment

income—net

(0.39‌)

(0.37‌)

Dividends

from

net

realized

gain

on

investments

(0.20‌)

—‌

Total

Distributions

(0.59‌)

(0.37‌)

Net

asset

value,

end

of

period

51.38‌

51.60‌

Market

price,

end

of

period

(c)

51.42‌

51.65‌

Net

Asset

Value

Total

Return

(%)

(d)

0.72‌

3.94‌

Market

Price

Total

Return

(%)

(d)

0.70‌

4.05‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.06‌

(e)

0.06‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

1.50‌

(e)

1.65‌

(e)

Portfolio

Turnover

Rate

(f)

21.23‌

24.94‌

Net

Assets,

end

of

period

($

x

1,000)

33,394‌

28,380‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

118

See

Notes

to

Financial

Statements

BNY

Mellon

High

Yield

Beta

ETF

For

the

Six

Months

Ended

April

30,

2021

(Unaudited)

For

the

Period

April

24,

2020

(a)

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

54.06‌

50.00‌

Investment

Operations:

Investment

income—net

(b)

1.45‌

1.70‌

Net

realized

and

unrealized

gain

(loss)

on

investments

2.75‌

3.74‌

Total

from

Investment

Operations

4.20‌

5.44‌

Distributions:

Dividends

from

investment

income—net

(1.46‌)

(1.38‌)

Dividends

from

net

realized

gain

on

investments

(0.42‌)

—‌

Total

Distributions

(1.88‌)

(1.38‌)

Net

asset

value,

end

of

period

56.38‌

54.06‌

Market

price,

end

of

period

(c)

56.46‌

54.08‌

Net

Asset

Value

Total

Return

(%)

(d)

7.86‌

10.94‌

Market

Price

Total

Return

(%)

(d)

7.97‌

10.98‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.22‌

(e)

0.22‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

5.21‌

(e)

6.06‌

(e)

Portfolio

Turnover

Rate

(f)

27.93‌

39.43‌

Net

Assets,

end

of

period

($

x

1,000)

45,105‌

54,062‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

The

mean

between

the

last

bid

and

ask

prices.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

119

NOTES

TO

FINANCIAL

STATEMENTS

NOTE

1—Organization:

BNY

Mellon

ETF

Trust

(the

“Trust”) is

registered as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-end

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

eight

series,

including

the

following

diversified

funds:

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

(each,

a

“fund”

and

collectively,

the

“funds”).

The

investment

objective

of

each

fund

is

to

seek

to

track

the

performance

of

an

underlying

index,

as

reflected

in

the

table below.

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY

Mellon”),

serves

as

each

fund’s

investment

adviser.

The

Bank

of

New

York

Mellon,

a

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

administrator,

custodian

and

transfer

agent

with

the

Trust.

Mellon

Investments

Corporation

(the

“Sub-

Adviser”),

a

wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

each

fund’s

sub-investment

adviser.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a

wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

each

fund’s

shares.

†

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

††

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

the

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

The

shares

of

the

funds

are

referred

to

herein

as

“Shares”

or

“fund’s

Shares.”

Each

fund’s

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

a

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

each

fund

issues

and

redeems

Shares

on

a

continuous

basis,

at

NAV,

only

in

a

large

specified

number

of

Shares,

each

called

a

“Creation

Unit.”

Creation

Units

are

issued

and

redeemed

principally

in

exchange

for

the

deposit

or

delivery

of

a

basket

of

securities.

Except

when

aggregated

in

Creation

Units

by

Authorized

Participants,

the

Shares

are

not

individually

redeemable

securities

of

the

funds.

Individual

fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

fund

Shares

trade

at

market

prices

rather

than

at

NAV,

fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask).

On

February

10,

2021,

BNY

Mellon

Investment

Management

announced

its

intention

to

realign

several

of

its

investment

firms.

As

a

result

of

this

realignment,

which

is

scheduled

to

occur,

subject

to

regulatory

requirements,

in

the

third

quarter

of

2021

(the

“Effective

Date”),

portfolio

managers

responsible

for

managing

the

BNY

Mellon

High

Yield

Beta

ETF’s

investments

as

employees

of

the

Sub-Adviser,

will

become

employees

of

Insight

North

America

LLC

(“INA”),

which,

like

the

Sub-Adviser,

is

an

affiliate

of

the

Adviser,

the

BNY

Mellon

High

Yield

Beta

ETF’s

investment

adviser,

and

will

no

longer

be

employees

of

the

Sub-Adviser.

Consequently,

effective

as

of

the

Effective

Date

and

subject

to

the

approval

of

the

Trust's

Board

of

Trustees

(the

“Board”),

the

Adviser

will

engage

INA

to

serve

as

BNY

Mellon

High

Yield

Beta

ETF’s

sub-adviser,

pursuant

to

a

sub-

investment

advisory

agreement

between

the

Adviser

and

INA,

replacing

the

Sub-Adviser.

As

BNY

Mellon

High

Yield

Beta

ETF’s

sub-adviser,

INA

will

provide

the

day-to-day

management

of

BNY

Mellon

High

Yield

Beta

ETF’s

investments,

subject

to

the

Adviser’s

supervision

and

approval.

It

is

currently

anticipated

that

BNY

Mellon

High

Yield

Beta

ETF’s

portfolio

managers

who

are

responsible

for

the

day-to-day

management

of

BNY

Mellon

High

Yield

Beta

ETF’s

investments

will

continue

to

manage

BNY

Mellon

High

Yield

Beta

ETF’s

investments

as

of

the

Effective

Date.

It

is

also

currently

anticipated

that

there

will

be

no

material

changes

to

BNY

Mellon

High

Yield

Beta

ETF’s

investment

objective,

strategies

or

policies,

no

reduction

in

the

nature

or

level

of

services

provided

to

BNY

Mellon

High

Yield

Beta

ETF,

and

no

increase

in

the

management

fee

payable

by

BNY

Mellon

High

Yield

Beta

ETF

as

a

result

of

the

engagement

of

INA

as

BNY

Mellon

High

Yield

Beta

ETF’s

sub-adviser.

As

is

the

case

under

the

sub-investment

advisory

agreement

between

the

Adviser

and

Sub-Adviser,

the

Adviser

(and

not

BNY

Mellon

High

Yield

Beta

ETF)

will

pay

INA

for

its

sub-advisory

services.

The

rate

of

sub-investment

advisory

fee

payable

by

the

Adviser

to

INA

will

be

the

same

as

that

currently

payable

by

the

Adviser

to

 Fund

Name

Underlying

Index

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Morningstar®

US

Large

Cap

Index

SM

†

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Morningstar®

US

Mid

Cap

Index

SM

†

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Morningstar®

US

Small

Cap

Index

SM

†

BNY

Mellon

International

Equity

ETF

Morningstar®

Developed

Markets

ex-US

Large

Cap

Index

SM

†

BNY

Mellon

Emerging

Markets

Equity

ETF

Morningstar®

Emerging

Markets

Large

Cap

Index

SM

†

BNY

Mellon

Core

Bond

ETF

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

††

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

††

BNY

Mellon

High

Yield

Beta

ETF

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

††

120

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Sub-Adviser

pursuant

to

the

respective

sub-investment

advisory

agreements.

In

addition,

all

other

material

terms

and

conditions

of

the

proposed

sub-investment

advisory

agreement

between

the

Adviser

and

INA

will

be

substantially

similar

to

those

of

the

sub-investment

advisory

agreement

between

the

Adviser

and

Sub-Adviser. 

NOTE

2—Significant

Accounting

Policies:

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

Securities

and

Exchange

Commission

(“SEC”)

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants.

Each

fund

is

an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies.

Each

fund's

financial

statements

are

prepared

in

accordance

with

GAAP,

which

may

require

the

use

of

management

estimates

and

assumptions.

Actual

results

could

differ

from

those

estimates.

The

Trust

accounts

separately

for

the

assets,

liabilities

and

operations

of

each

fund.

Expenses

directly

attributable

to

each

fund

are

charged

to

that

fund’s

operations;

expenses

which

are

applicable

to

all

funds

are

allocated

among

them

on

a

pro

rata

basis.

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

funds’

maximum

exposure

under

these

arrangements

is

unknown.

The

funds

do

not

anticipate

recognizing

any

loss

related

to

these

arrangements. 

(a)

Portfolio

valuation:

The

fair

value

of

a

financial

instrument

is

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price).

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

of

valuation

techniques

used

to

measure

fair

value.

This

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Additionally,

GAAP

provides

guidance

on

determining

whether

the

volume

and

activity

in

a

market

has

decreased

significantly

and

whether

such

a

decrease

in

activity

results

in

transactions

that

are

not

orderly.

GAAP

requires

enhanced

disclosures

around

valuation

inputs

and

techniques

used

during

annual

and

interim

periods.

Various

inputs

are

used

in

determining

the

value

of

each

fund’s

investments

relating

to

fair

value

measurements.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

1

—

unadjusted

quoted

prices

in

active

markets

for

identical

investments.

Level

2

—

other

significant

observable

inputs

(including

quoted

prices

for

similar

investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Level

3

—

significant

unobservable

inputs

(including

the

funds’

own

assumptions

in

determining

the

fair

value

of

investments).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

Changes

in

valuation

techniques

may

result

in

transfers

in

or

out

of

an

assigned

level

within

the

disclosure

hierarchy.

Valuation

techniques

used

to

value

each

fund’s

investments

are

as

follows:

Investments

in

equity

securities,

including

ETFs

(but

not

including

investments

in

other

open-end

registered

investment

companies)

are

valued

at

the

last

sales

price

on

the

securities

exchange

or

national

securities

market

on

which

such

securities

are

primarily

traded.

Securities

listed

on

the

National Association

of

Securities

Dealers

Automated

Quotation

System

for

which

market

quotations

are

available

are

valued

at

the

official

closing

price

or,

if

there

is

no

official

closing

price

that

day,

at

the

last

sales

price.

For

open

short

positions,

asked

prices

are

used

for

valuation

purposes.

Bid

price

is

used

when

no

asked

price

is

available.

Registered

investment

companies

that

are

not

traded

on

an

exchange

are

valued

at

their

net

asset

value.

All

of

the

preceding

securities

are

generally

categorized

within

Level

1

of

the

fair

value

hierarchy.

Investments

in

debt

securities

excluding

short-term

investments

(other

than

U.S.

Treasury

Bills),

are

valued

each

business

day

by

one

or

more

independent

pricing

services

(each,

a

“Service”)

approved

by

the

Board.

Investments

for

which

quoted

bid

prices

are

readily

available

and

are

representative

of

the

bid

side

of

the

market

in

the

judgment

of

the

Service

are

valued

at

the

quoted

bid

prices

(as

obtained

by

the

Service

from

dealers

in

such

securities).

Securities

are

valued

as

determined

by

a

Service,

based

on

methods

which

include

consideration

of

the

following:

yields

or

prices

of

securities

of

comparable

quality,

coupon,

maturity

and

type;

indications

as

to

values

from

dealers;

and

general

market

conditions.

These

securities

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

Each

Service

and

independent

valuation

firm

is

engaged

under

the

general

oversight

of

the

Board.

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

accurately

fair

value,

such

as

when

the

value

of

a

security

has

been

significantly

affected

by

events

after

the

close

of

the

exchange

or

market

on

which

the

security

is

principally

traded

(for

example,

a

foreign

exchange

or

market),

but

before

the

funds

calculate

their

net

asset

value,

the

funds

may

value

these

investments

at

fair

value

as

determined

in

accordance

with

the

procedures

approved

by

the

Board.

Certain

factors

may

be

considered

when

fair

valuing

investments

such

as:

fundamental

analytical

data,

the

nature

and

duration

of

restrictions

on

disposition,

an

evaluation

of

the

forces

that

influence

the

market

in

which

the

securities

are

purchased

and

sold,

and

public

trading

in

similar

securities

of

the

issuer

or

121

comparable

issuers.

These

securities

are

either

categorized

within

Level

2

or

3

of

the

fair

value

hierarchy

depending

on

the

relevant

inputs

used.

For

securities

where

observable

inputs

are

limited,

assumptions

about

market

activity

and

risk

are

used

and

are

generally

categorized

within

Level

3

of

the

fair

value

hierarchy.

Investments

denominated

in

foreign

currencies

are

translated

to

U.S.

dollars

at

the

prevailing

rates

of

exchange.

Futures,

which

are

traded

on

an

exchange,

are

valued

at

the

last

sales

price

on

securities

exchange

on

which

such

contracts

are

primarily

traded

or

at

the

last

sales

price

on

the

exchange

on

each

business

day and

are

generally

categorized

within

Level

1

of

the

fair

value

hierarchy.

Swaps

are

valued

by

the

Service

by

using

a

swap

pricing

model

which

incorporates

among

other

factors,

default

probabilities,

recovery

rates,

credit

curves

of

the

underlying

issuer

and

swap

spreads

on

interest

rates

and

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy. 

The

table

below

summarizes

the

inputs

used

as

of April

30,

2021

in

valuing

each

fund’s

investments:

Fair

Value

Measurements

Investments

in

Securities

†

Level

1

—

Unadjusted

Quoted

Prices

Level

2

—

Other

Significant

Observable

Inputs

Level

3

—

Significant

Unobservable

Inputs

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Common

Stocks

286,396,661

—

—

—

—

—

286,396,661

Short-Term

Investments

—

—

17,000

—

—

—

17,000

Investment

Companies

123,441

—

—

—

—

—

123,441

Investment

of

Cash

Collateral

for

Securities

Loaned

47,936

—

—

—

—

—

47,936

Other

Financial

Instruments:

Futures

††

12,073

—

—

—

—

—

12,073

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Common

Stocks

105,114,201

—

—

—

—

—

105,114,201

Investment

Companies

71,393

—

—

—

—

—

71,393

Investment

of

Cash

Collateral

for

Securities

Loaned

369,462

—

—

—

—

—

369,462

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Common

Stocks

136,185,195

—

—

—

—

—

136,185,195

Investment

Companies

75,174

—

—

—

—

—

75,174

Investment

of

Cash

Collateral

for

Securities

Loaned

1,224,797

—

—

—

—

—

1,224,797

BNY

Mellon

International

Equity

ETF

Common

Stocks

42,474,106

—

—

—

—

—

42,474,106

Preferred

Stocks

245,511

—

—

—

—

—

245,511

Rights

—

—

248

—

—

—

248

Short-Term

Investments

—

—

8,000

—

—

—

8,000

Investment

Companies

23,416

—

—

—

—

—

23,416

Other

Financial

Instruments:

Futures

††

3,116

—

—

—

—

—

3,116

BNY

Mellon

Emerging

Markets

Equity

ETF

Common

Stocks

40,200,533

—

93,708

—

—

—

40,294,241

Preferred

Stocks

1,006,522

—

—

—

—

—

1,006,522

Rights

—

—

763

—

—

—

763

Short-Term

Investments

—

—

5,000

—

—

—

5,000

Investment

Companies

33,688

—

—

—

—

—

33,688

Other

Financial

Instruments:

Futures

††

143

—

—

—

—

—

143

BNY

Mellon

Core

Bond

ETF

Asset-Backed

Securities

—

—

138,536

—

—

—

138,536

Commercial

Mortgage-Backed

Securities

—

—

1,063,154

—

—

—

1,063,154

Corporate

Bonds

—

—

22,862,903

—

—

—

22,862,903

Foreign

Governmental

—

—

1,811,766

—

—

—

1,811,766

122

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

(b)

Foreign

currency

transactions:

BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

Equity

ETF

do

not

isolate

that

portion

of

the

results

of

operations

resulting

from

changes

in

foreign

exchange

rates

on

investments

from

the

fluctuations

arising

from

changes

in

the

market

prices

of

securities

held.

Such

fluctuations

are

included

with

the

net

realized

and

unrealized

gain

or

loss

on

investments.

Net

realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

on

securities

transactions

between

trade

and

settlement

date,

and

the

difference

between

the

amounts

of

dividends,

interest

and

foreign

withholding

taxes

recorded

on

the

funds’

books

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

the

value

of

assets

and

liabilities

other

than

investments

resulting

from

changes

in

exchange

rates.

Foreign

currency

gains

and

losses

on

foreign

currency

transactions

are

also

included

with

net

realized

and

unrealized

gain

or

loss

on

investments.

Foreign

Taxes:

The

funds

may

be

subject

to

foreign

taxes

(a

portion

of

which

may

be

reclaimable)

on

income,

stock

dividends,

realized

and

unrealized

capital

gains

on

investments

or

certain

foreign

currency

transactions.

Foreign

taxes

are

recorded

in

accordance

with

the

applicable

foreign

tax

regulations

and

rates

that

exist

in

the

foreign

jurisdictions

in

which

the

funds

invest.

These

foreign

taxes,

if

any,

are

paid

by

the

funds

and

are

reflected

in

the

Statements

of

Operations,

if

applicable.

Foreign

taxes

payable

or

deferred

or

those

subject

to

reclaims as

of April

30,

2021,

if

any,

are

disclosed

in

the

funds’

Statements

of

Assets

and

Liabilities.

(c)

Securities

transactions

and

investment

income:

Securities

transactions

are

recorded

on

a

trade

date

basis.

Realized

gains

and

losses

from

securities

transactions

are

recorded

on

the

identified

cost

basis.

Dividend

income

is

recognized

on

the

ex-dividend

date

and

interest

income,

including,

where

applicable,

accretion

of

discount

and

amortization

of

premium

on

investments,

is

recognized

on

the

accrual

basis.

Pursuant

to

a

securities

lending

agreement

with

BNY

Mellon,

the

funds

may

lend

securities

to

qualified

institutions.

It

is

the

funds’

policy

that,

at

origination,

all

loans

are

secured

by

collateral

of

at

least

102%

of

the

value

of

U.S.

securities

loaned

and

105%

of

the

value

of

foreign

securities

loaned.

Collateral

equivalent

to

at

least

100%

of

the

market

value

of

securities

on

loan

is

maintained

at

all

times.

Collateral

is

either

in

the

form

of

cash,

which

can

be

invested

in

certain

money

market

mutual

funds

managed

by

the

Adviser,

or

U.S.

Government

and

Agency

securities.

The

funds

are

entitled

to

receive

all

dividends,

interest

and

distributions

on

securities

loaned,

in

addition

to

income

earned

as

a

result

of

the

lending

transaction.

Should

a

borrower

fail

to

return

the

securities

in

a

timely

manner,

The

Bank

of

New

York

Mellon

is

required

to

replace

the

securities

for

the

benefit

of

the

funds

or

credit

the

funds

with

the

market

value

of

the

unreturned

securities

Investments

in

Securities

†

Level

1

—

Unadjusted

Quoted

Prices

Level

2

—

Other

Significant

Observable

Inputs

Level

3

—

Significant

Unobservable

Inputs

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Total

Municipal

Securities

—

—

147,912

—

—

—

147,912

Supranational

Bank

—

—

1,383,210

—

—

—

1,383,210

U.S.

Government

Agencies

—

—

25,422,743

—

—

—

25,422,743

U.S.

Treasury

Government

Securities

—

—

30,595,181

—

—

—

30,595,181

Investment

Companies

5,932,957

—

—

—

—

—

5,932,957

Investment

of

Cash

Collateral

for

Securities

Loaned

891,874

—

—

—

—

—

891,874

TBA

Sale

Commitments

—

—

—

(429,289)

—

—

(429,289)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Corporate

Bonds

—

—

33,057,838

—

—

—

33,057,838

Investment

Companies

270,977

—

—

—

—

—

270,977

Investment

of

Cash

Collateral

for

Securities

Loaned

113,650

—

—

—

—

—

113,650

BNY

Mellon

High

Yield

Beta

ETF

Corporate

Bonds

—

—

44,296,313

—

—

—

44,296,313

Investment

Companies

203,009

—

—

—

—

—

203,009

Investment

of

Cash

Collateral

for

Securities

Loaned

1,411,270

—

—

—

—

—

1,411,270

Other

Financial

Instruments:

Centrally

Cleared

Credit

Default

Swaps

††

—

—

11,908

—

—

—

11,908

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

††

Amount

shown

represents

unrealized

appreciation

(depreciation)

at

period

end,

but

only

variation

margin

on

exchange

traded

and

centrally

cleared

derivatives,

if

any,

are

reported

in

the

Statement

of

Assets

and

liabilities.

123

and

is

subrogated

to

the

funds’

rights

against

the

borrower

and

the

collateral.

Additionally,

the

contractual

maturity

of

security

lending

transactions

are

on

an

overnight

and

continuous

basis.

The

table

below

summarizes

the

amount BNY

Mellon

earned

from

each

relevant

fund

from

lending

portfolio

securities,

pursuant

to

the

securities

lending

agreement

during

the

period

ended

April

30,

2021.

Securities

Lending

Agreement

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

are

defined

as

“affiliated”

under

the

Act.

(e)

Risk:

Certain

events

particular

to

the

industries

in

which

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

investments

conduct

their

operations,

as

well

as

general

economic,

political

and

public

health

conditions,

may

have

a

significant

negative

impact

on

the

investee’s

operations

and

profitability.

BNY Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

ETF

invest

in

foreign

markets

which

may

involve

special

risks

and

considerations

not

typically

associated

with

investing

in

the

U.S.

These

risks

include

revaluation

of

currencies,

high

rates

of

inflation,

repatriation

restrictions

on

income

and

capital,

and

adverse

political,

economic

developments

and

public

health

conditions.

Moreover,

securities

issued

in

these

markets

may

be

less

liquid,

subject

to

government

ownership

controls

and

delayed

settlements,

and

their

prices

may

be

more

volatile

than

those

of

comparable

securities

in

the

U.S.

The BNY

Mellon

Emerging

Markets

Equity

ETF follows

an

investment

policy

of

investing

primarily

in

emerging

market

countries.

Because

the

fund’s

investments

are

concentrated

in

emerging

market

countries,

the

fund’s

performance

is

expected

to

be

closely

tied

to

social,

political

and

economic

conditions

within

such

countries

and

to

be

more

volatile

than

the

performance

of

more

geographically

diversified

funds. 

In

addition,

turbulence

in

financial

markets

and

reduced

liquidity

in

equity,

credit

and/or

fixed

income

markets

may

negatively

affect

many

issuers,

which

could

adversely

affect

each

fund.

Global

economies

and

financial

markets

are

becoming

increasingly

interconnected,

and

conditions

and

events

in

one

country,

region

or

financial

market

may

adversely

impact

issuers

in

a

different

country,

region

or

financial

market.

These

risks

may

be

magnified

if

certain

events

or

developments

adversely

interrupt

the

global

supply

chain;

in

these

and

other

circumstances,

such

risks

might

affect

companies

world-wide.

Recent

examples

include

pandemic

risks

related

to

COVID-19

and

aggressive

measures

taken

world-wide

in

response

by

governments,

including

closing

borders,

restricting

international

and

domestic

travel,

and

the

imposition

of

prolonged

quarantines

of

large

populations,

and

by

businesses,

including

changes

to

operations

and

reducing

staff.

To

the

extent

the

funds

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

each

fund’s

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors. 

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

invests

in

debt

securities.

Failure

of

an

issuer

of

the

debt

securities

to

make

timely

interest

or

principal

payments,

or

a

decline

or

the

perception

of

a

decline

in

the

credit

quality

of

a

debt

security,

can

cause

the

debt

security’s

price

to

fall,

potentially

lowering

the

fund’s

share

price.

High

Yield

(“junk”)

bonds

involve

greater

credit

risk,

including

the

risk

of

default,

than

investment

grade

bonds,

and

are

considered

predominantly

speculative

with

respect

to

the

issuer’s

continuing

ability

to

make

principal

and

interest

payments.

In

addition,

the

value

of

debt

securities

may

decline

due

to

general

market

conditions

that

are

not

specifically

related

to

a

particular

issuer,

such

as

real

or

perceived

adverse

economic

conditions,

changes

in

outlook

for

corporate

earnings,

changes

in

interest

or

currency

rates

or

adverse

investor

sentiment.

They

may

also

decline

because

of

factors

that

affect

a

particular

industry.

(f)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions

payable

to

shareholders

are

recorded

by

each

fund

on

the

ex-dividend

date.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

Equity

ETF

normally

declare

and

pay

dividends

from

investment

income-net

quarterly.

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

normally

declares

and

pays

dividends

from

investment

income-net

monthly.

Income

dividends

for

each

fund

may

vary

significantly

from

period

to

period. Dividends

from

net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

each

fund

may

make

distributions

on

a

more

frequent

basis

to

comply

with

the

distribution

requirements

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

To

the

extent

that

net

realized

capital

gains

can

be

offset

by

capital

loss

carryovers

of

a

fund,

it

is

the

policy

of

each

fund

not

to

distribute

such

gains.

Income

and

capital

gain

distributions

are

determined

in

accordance

with

income

tax

regulations,

which

may

differ

from

GAAP.

(g)

Federal

income

taxes:

It

is

the

policy

of

each

fund

to

continue

to

qualify

as

a

regulated

investment

company,

if

such

qualification

is

in

the

best

interests

of

its

shareholders,

by

complying

with

the

applicable

provisions

of

the

Code,

and

to

make

distributions

of

taxable

income

sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

For

federal

income

tax

purposes,

each

fund

is

treated

as

a

separate

entity

for

the

purpose

of

determining

such

qualification.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

478

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

456

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,841

BNY

Mellon

International

Equity

ETF

3

BNY

Mellon

Emerging

Markets

Equity

ETF

101

BNY

Mellon

Core

Bond

ETF

151

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

21

BNY

Mellon

High

Yield

Beta

ETF

628

124

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

As

of

and

during

the

period

ended April

30,

2021,

the

funds

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

Each

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statements

of

Operations.

During

the

period

ended April

30,

2021,

the

funds

did

not

incur

any

interest

or

penalties.

The

tax

year

in

the

period

ended

October

31,

2020

remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities.

The

table below summarizes

each

relevant

fund’s

accumulated

capital

loss

carryover

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to October

31,

2020.

Capital

Loss

Carryover

The

table below

summarizes

each

fund’s

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

period

ended October

31,

2020.

The

tax

character

of

current

year

distributions

will

be

determined

at

the

end

of

the

current

fiscal

year.

Tax

Character

of

Distributions

Paid

(h)

New

Accounting

Pronouncement:

In

March

2020,

the

FASB

issued

Accounting

Standards

Update

2020-04,

Reference

Rate

Reform

(Topic

848):

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting

(“ASU

2020-04”),

and

in

January

2021,

the

FASB

issued

Accounting

Standards

Update

2021-01,

Reference

Rate

Reform

(Topic

848):

Scope

(“ASU

2021-

01”),

which

provides

optional,

temporary

relief

with

respect

to

the

financial

reporting

of

contracts

subject

to

certain

types

of

modifications

due

to

the

planned

discontinuation

of

the

London

Interbank

Offered

Rate

(“LIBOR”)

and

other

Interbank

Offered

Rate

(“IBOR”)-based

reference

rates

as

of

the

end

of

2021.

The

temporary

relief

provided

by

ASU

2020-04

and

ASU

2021-01 is

effective

for

certain

reference

rate-related

contract

modifications

that

occur

during

the

period

from

March

12,

2020

through

December

31,

2022.

Management

is

evaluating

the

impact

of

ASU

2020-04

and

ASU

2021-01 on

the

fund’s

investments,

derivatives,

debt

and

other

contracts

that

will

undergo

reference

rate-related

modifications

as

a

result

of

the

reference

rate

reform.

NOTE

3—Management

Fee,

Sub-Investment

Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Fees

payable

by

the

funds

pursuant

to

the

provisions

of

a

management

agreement

with

the

Adviser

are

payable

monthly,

computed

at

an

annual

rate on

the

average

daily

value

of

each

fund’s

net

assets

of

which

are

summarized

in

the

table

below.

Management

Agreement

Fees

For

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will

pay

substantially

all

expenses

of

such

fund,

except

for

the

management

fees,

payments

under

the

fund’s

12b-

1

plan

(if

any),

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

brokerage

commissions,

costs

of

holding

shareholder

Short-Term

Losses

Long-Term

Losses

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$349,459

$

-

$349,459

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

155,353

-

155,353

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

366,346

-

366,346

BNY

Mellon

International

Equity

ETF

212,041

-

212,041

BNY

Mellon

Emerging

Markets

Equity

ETF

81,427

-

81,427

BNY

Mellon

Core

Bond

ETF

89,446

-

89,446

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

-

-

BNY

Mellon

High

Yield

Beta

ETF

-

-

-

Ordinary

Income

†

Long-Term

Capital

Gains

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$386,114

$

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

255,842

-

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

277,635

-

BNY

Mellon

International

Equity

ETF

384,266

-

BNY

Mellon

Emerging

Markets

Equity

ETF

418,648

-

BNY

Mellon

Core

Bond

ETF

229,445

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

203,898

-

BNY

Mellon

High

Yield

Beta

ETF

1,142,444

-

†

Includes

short-term

capital

gain

distributions,

if

any.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

0.00%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

0.04%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

0.04%

BNY

Mellon

International

Equity

ETF

0.04%

BNY

Mellon

Emerging

Markets

Equity

ETF

0.11%

BNY

Mellon

Core

Bond

ETF

0.00%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

0.06%

BNY

Mellon

High

Yield

Beta

ETF

0.22%

125

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

Effective

March

1,

2021

through

March

1,

2022

for

BNY

Mellon

Emerging

Markets

Equity

ETF

the

Adviser

has

contrallually

agreed

waive

receipt

of

its

management

fees

and/or

assume

expenses

of

the

fund

so

that

the

expenses

of

the

fund

(excluding

payments

under

the

fund’s

12b-1

plan

(if

any),

interest

expenses,

taxes,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business)

do

not

exceed

0.11%

of

the

value

of

the

fund’s

average

daily

net

assets.

On

or

after

March

1,

2022,

the

Adviser

may

terminate

this

expense

limitation

at

any

time.

For

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

the

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will

pay

substantially

all

expenses

of

such

fund,

except

for

the

management

fees,

interest

expenses,

taxes,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

For

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

the

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will pay

all

acquired

fund

fees

and

expenses.

The

Adviser

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended April

30,

2021,

there

were

no

reduction

in

expenses

pursuant

to

the

undertakings. 

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Sub-Adviser

serves

as

each

fund’s

sub-investment

adviser

responsible

for

the

day-to-day

management

of

each

fund’s

portfolio.

The

Adviser

pays

the

sub-investment

adviser

a

monthly

fee

at

an

annual

percentage

of

the

value

of

each

fund’s

average

daily

net

assets.

The

Adviser

has

obtained

an

exemptive

order

from

the

SEC

(the

“Order”),

upon

which

each

fund

may

rely,

to

use

a

manager

of

managers

approach

that

permits

the

Adviser,

subject

to

certain

conditions

and

approval

by

the

Board,

to

enter

into

and

materially

amend

sub-investment

advisory

agreements

with

one

or

more

sub-

investment

advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

each

fund

from

disclosing

the

sub-investment

advisory

fee

paid

by

the

Adviser

to

a

sub-adviser

in

documents

filed

with

the

SEC

and

provided

to

shareholders.

In

addition,

pursuant

to

the

Order,

it

is

not

necessary

to

disclose

the

sub-

investment

advisory

fee

payable

by

the

Adviser

separately

to

a

sub-adviser

that

is

a

wholly-owned

subsidiary

(as

defined

in

the

1940

Act)

of

BNY

Mellon

in

documents

filed

with

the

SEC

and

provided

to

shareholders;

such

fees

are

to

be

aggregated

with

fees

payable

to

the

Adviser.

The

Adviser

has

ultimate

responsibility

(subject

to

oversight

by

the

Board)

to

supervise

any

sub-adviser

and

recommend

the

hiring,

termination,

and

replacement

of

any

sub-adviser

to

the

Board.

For

each

fund,

the

Adviser

will

pay

a

contractual

fee

rate

to

the

Sub-Adviser,

at

the

annual

rate

set

forth

in

the

table

below

(stated

as

a

percentage

of

each

fund’s

average

daily

net

assets).

The

Adviser,

and

not

the

funds,

pays

the

Sub-Adviser

fee

rate.

Sub-Investment

Advisory

Agreement

Fees

(b)

The

table

below

summarizes

the

components

of

“Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC.”

in

the

Statements

of

Assets

and

Liabilities

for

each

fund

.

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC

Management

fees

(c)

Each

Board

member

serves

as

a

Board

member

of each

fund

within

the

Trust.

Annual

retainer

fees

and

attendance

fees

are

allocated

to

each

fund

based

on

net

assets.

NOTE

4—Securities

Transactions:

The

table

below

summarizes

each

fund’s

aggregate

amount

of

purchases

and

sales

(including

paydowns,

if

any)

of

investment

securities,

excluding

short-term

securities,

futures

and

swap

agreements and

in-kind

transactions,

during

the

period

ended

April

30,

2021.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

International

Equity

ETF

0.02%

BNY

Mellon

Emerging

Markets

Equity

ETF

0.055%

BNY

Mellon

Core

Bond

ETF

0.03%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

0.03%

BNY

Mellon

High

Yield

Beta

ETF

0.11%

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

3,382

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

4,342

BNY

Mellon

International

Equity

ETF

1,407

BNY

Mellon

Emerging

Markets

Equity

ETF

3,736

BNY

Mellon

Core

Bond

ETF

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

1,551

BNY

Mellon

High

Yield

Beta

ETF

8,429

126

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Purchases

and

Sales

TBA

Securities:

During

the

period

ended April

30,

2021,

BNY

Mellon

Core

Bond

ETF

transacted

in

TBA

securities

that

involved

buying

or

selling

mortgage-backed

securities

on

a

forward

commitment

basis.

A

TBA

transaction

typically

does

not

designate

the

actual

security

to

be

delivered

and

only

includes

an

approximate

principal

amount;

however,

delivered

securities

must

meet

specified

terms

defined

by

industry

guidelines,

including

issuer,

rate

and

current

principal

amount

outstanding

on

underling

mortgage

pools.

TBA

securities

subject

to

a

forward

commitment

to

sell

at

period

end

are

included

at

the

end

of

the

fund’s

Statement

of

Investments

under

the

caption

“TBA

Sale

Commitments.”

The

proceeds

and

value

of

these

commitments

are

reflected

in

the

fund’s

Statement

of

Assets

and

Liabilities

 as

Receivable

for

TBA

sale

commitments

(included

in

receivable

securities

sold)

and

TBA

sale

commitments,

at

value,

respectively. 

Derivatives:

A

derivative

is

a

financial

instrument

whose

performance

is

derived

from

the

performance

of

another

asset.

Each

type

of

derivative

instrument

that

was

held

by

the

fund

during

the 

period

ended

April

30,

2021

is

discussed

below.

Futures:

In

the

normal

course

of

pursuing

their

investment

objective,

exposed

to

market

risk,

including

equity

price

risk,

as

a

result

of

changes

in

value

of

underlying

financial

instruments.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

ETF

invest

in

futures

in

order

to

manage

their

exposure

to

or

protect

against

changes

in

the

market.

A

futures

contract

represents

a

commitment

for

the

future

purchase

or

a

sale

of

an

asset

at

a

specified

date.

Upon

entering

into

such

contracts,

these

investments

require

initial

margin

deposits

with

a

counterparty,

which

consist

of

cash

or

cash

equivalents.

The

amount

of

these

deposits

is

determined

by

the

exchange

or

Board

of

Trade

on

which

the

contract

is

traded

and

is

subject

to

change.

Accordingly,

variation

margin

payments

are

received

or

made

to

reflect

daily

unrealized

gains

or

losses

which

are

recorded

in

the

Statements

of

Operations.

When

the

contracts

are

closed,

the

fund

recognizes

a

realized

gain

or

loss

which

is

reflected

in

the

Statements

of

Operations.

There

is

minimal

counterparty

credit

risk

to

the

fund

with

futures

since

they

are

exchange

traded,

and

the

exchange

guarantees

the

futures

against

default.

Futures

open

at April

30,

2021,

are

set

forth

in

the

Statement

of

Investments

for

each

fund.

Swap

Agreements:

BNY

Mellon

High

Yield

Beta

ETF enters

into

swap

agreements

to

exchange

the

interest

rate

on,

or

return

generated

by,

one

nominal

instrument

for

the

return

generated

by

another

nominal

instrument.

Swap

agreements

are

privately

negotiated

in

the

OTC

market

or

centrally

cleared.

The

fund

enters

into

these

agreements

to

hedge

certain

market

or

interest

rate

risks,

to

manage

the

interest

rate

sensitivity

(sometimes

called

duration)

of

fixed

income

securities,

to

provide

a

substitute

for

purchasing

or

selling

particular

securities

or

to

increase

potential

returns.

For

OTC

swaps,

the

fund

accrues

for

interim

payments

on

a

daily

basis,

with

the

net

amount

recorded

within

unrealized

appreciation

(depreciation)

on

swap

agreements

in

the

Statement

of

Assets

and

Liabilities. Once

the

interim

payments

are

settled

in

cash,

the

net

amount

is

recorded

as

a

realized

gain

(loss)

on

swaps,

in

addition

to

realized

gain

(loss)

recorded

upon

the

termination

of

swap

agreements

in

the

Statement

of

Operations.

Upfront

payments

made

and/or

received

by

the

fund,

are

recorded

as

an

asset

and/or

liability

in

the

Statement

of

Assets

and

Liabilities

and

are

recorded

as

a

realized

gain

or

loss

ratably

over

the

agreement’s

term/event

with

the

exception

of

forward

starting

interest

rate

swaps

which

are

recorded

as

realized

gains

or

losses

on

the

termination

date.

Upon

entering

into

centrally

cleared

swap

agreements,

an

initial

margin

deposit

is

required

with

a

counterparty,

which

consists

of

cash

or

cash

equivalents.

The

amount

of

these

deposits

is

determined

by

the

exchange

on

which

the

agreement

is

traded

and

is

subject

to

change.

The

change

in

valuation

of

centrally

cleared

swaps

is

recorded

as

a

receivable

or

payable

for

variation

margin

in

the

Statement

of

Assets

and

Liabilities.

Payments

received

from

(paid

to)

the

counterparty,

including

upon

termination,

are

recorded

as

realized

gain

(loss)in

the

Statement

of

Operations.

Fluctuations

in

the

value

of

swap

agreements

are

recorded

for

financial

statement

purposes

as

unrealized

appreciation

or

depreciation

on

swap

agreements.

Credit

Default

Swaps:

Credit

default

swaps

involve

commitments

to

pay

a

fixed

interest

rate

in

exchange

for

payment

if

a

credit

event

affecting

a

third

party

(the

referenced

obligation

or

index)

occurs.

Credit

events

may

include

a

failure

to

pay

interest

or

principal,

bankruptcy,

or

restructuring.

The

fund

enters

into

these

agreements

to

manage

its

exposure

to

the

market

or

certain

sectors

of

the

market,

to

reduce

its

risk

exposure

to

defaults

of

corporate

and

sovereign

issuers,

or

to

create

exposure

to

corporate

or

sovereign

issuers

to

which

it

is

not

otherwise

exposed.

For

those

credit

default

swaps

in

which

the

fund

is

paying

a

fixed

rate,

the

fund

is

buying

credit

protection

on

the

instrument.

In

the

event

of

a

credit

event,

the

fund

would

receive

the

full

notional

amount

for

the

reference

obligation.

Purchases

Sales

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

8,158,976

$

7,944,263

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

8,544,345

10,642,874

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

13,582,838

13,440,445

BNY

Mellon

International

Equity

ETF

2,389,345

4,061,460

BNY

Mellon

Emerging

Markets

Equity

ETF

8,450,424

3,324,918

BNY

Mellon

Core

Bond

ETF

35,073,086

22,430,042

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

6,390,126

6,314,672

BNY

Mellon

High

Yield

Beta

ETF

12,884,517

17,353,461

127

For

those

credit

default

swaps

in

which

the

fund

is

receiving

a

fixed

rate,

the

fund

is

selling

credit

protection

on

the

underlying

instrument.

The

maximum

payouts

for

these

agreements

are

limited

to

the

notional

amount

of

each

swap.

Credit

default

swaps

may

involve

greater

risks

than

if

the

fund

had

invested

in

the

reference

obligation

directly

and

are

subject

to

general

market

risk,

liquidity

risk,

counterparty

risk

and

credit

risk.

The

maximum

potential

amount

of

future

payments

(undiscounted)

that

a

fund

as

a

seller

of

protection

could

be

required

to

make

under

a

credit

default

swap

agreement

would

be

an

amount

equal

to

the

notional

amount

of

the

agreement

which

may

exceed

the

amount

of

unrealized

appreciation

or

depreciation

reflected

in

the

Statement

of

Assets

and

Liabilities.

Notional

amounts

of

all

credit

default

swap

agreements

are

disclosed

in

the

Statement

of

Investments

of

the

fund,

which

summarizes

open

credit

default

swaps

entered

into

by

the

fund.

These

potential

amounts

would

be

partially

offset

by

any

recovery

values

of

the

respective

referenced

obligations,

underlying

securities

comprising

the

referenced

index,

upfront

payments

received

upon

entering

into

the

agreement,

or

net

amounts

received

from

the

settlement

of

buy

protection

credit

default

swap

agreements

entered

into

by

the

fund

for

the

same

referenced

entity

or

entities.

Credit

default

swaps

open

at

April

30,

2021

are

set

forth

in

the

Statement

of

Investments

for

the

fund.  

GAAP

requires

disclosure

for

(i)

the

nature

and

terms

of

the

credit

derivative,

reasons

for

entering

into

the

credit

derivative,

the

events

or

circumstances

that

would

require

the

seller

to

perform

under

the

credit

derivative,

and

the

current

status

of

the

payment/performance

risk

of

the

credit

derivative,

(ii)

the

maximum

potential

amount

of

future

payments

(undiscounted)

the

seller

could

be

required

to

make

under

the

credit

derivative,

(iii)

the

fair

value

of

the

credit

derivative,

and

(iv)

the

nature

of

any

recourse

provisions

and

assets

held

either

as

collateral

or

by

third

parties.

All

required

disclosures

have

been

made

and

are

incorporated

within

the

current

period

as

part

of

the

Notes

to

the

Statement

of

Investments

and

disclosures

within

this

Note.

The

following

tables

show

the

funds’

exposure

to

different

types

of

market

risk

as

it

relates

to

the

Statement

of

Assets

and

Liabilities

and

the

Statements

of

Operations,

respectively. 

Fair

value

of

derivative

instruments

as

of April

30,

2021

is

shown

below:

Statement

of

Assets

and

Liabilities

location:

(a)

Includes

cumulative

appreciation

(depreciation)

on

futures

as

reported

in

the

Statement

of

Investments,

but

only

the

unpaid

variation

margin

is

reported

in

the

Statement

of

Assets

and

Liabilities.

(b)

Includes

cumulative

appreciation

(depreciation)

on

swap

agreements

as

reported

in

the

Statement

of

Investments.

Only

unpaid

variation

margin

on

cleared

swap

agreements

is

reported

in

the

Statements

of

Assets

and

Liabilities.

The

effect

of

derivative

instruments

in

the

Statement

of

Operations

during

the

period

ended

April

30,

2021 is

shown

below:

Derivative

Assets

($)

Derivative

Liabilities

($)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

(a)

12,073

-

BNY

Mellon

International

Equity

ETF

Equity

risk

(a)

3,116

-

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(a)

143

-

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

(a)

11,908

-

Amount

of

realized

gain

(loss)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

5,453

-

5,453

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

6,273

-

6,273

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

7,057

-

7,057

BNY

Mellon

International

Equity

ETF

Equity

risk

30,459

-

30,459

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

19,169

-

19,169

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

91,807

91,807

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

12,073

-

12,073

128

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

The following

table summarizes

the

average market

value of

derivatives

outstanding

during

the

period

ended

April

30,

2021:

The following

table summarizes

the

average

notional

value of

derivatives

outstanding

during

the

period

ended

April

30,

2021:

The table

below

summarizes

the

cost

of

investments

inclusive

of

derivative

contracts

for

federal

income

tax

purposes,

gross

appreciation,

gross

depreciation

and

accumulated

net

unrealized

appreciation

(depreciation)

on

investments

inclusive

of

derivative

contracts

for

each

fund

at

April

30,

2021.

At

April

30,

2021,

the

cost

of

investments

for

federal

income

tax

purposes

was

substantially

the

same

as

the

cost

for

financial

reporting

purposes

(see

the

Statements

of

Investments).

Accumulated

Net

Unrealized

Appreciation

(Depreciation)

NOTE

5—Shareholder

Transactions:

Each

fund

issues

and

redeems

its

shares

on

a

continuous

basis,

at

NAV,

to

certain

institutional

investors

known

as

“Authorized

Participants”

(typically

market

makers

or

other

broker-dealers)

only

in

a

large

specified

number

of

shares

called

a

Creation

Unit.

Except

when

aggregated

in

Creation

Units,

shares

of

each

fund

are

not

redeemable.

The

value

of

each

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for

a

fund

may

change.

Authorized

Participants

will

be

notified

of

such

change.

Creation

Unit

transactions

may

be

made

in-kind,

for

cash,

or

for

a

combination

of

securities

and

cash.

The

principal

consideration

for

creations

and

redemptions

for

each

fund

is

in-

kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

each

fund

only:

in

Creation

Units

on

a

continuous

basis

through

the

Distributor,

without

a

sales

load,

at

their

NAV

per

share

determined

after

receipt

of

an

order,

on

any

Business

Day,

in

proper

form

pursuant

to

the

terms

of

the

Authorized

Participant

Agreement.

Transactions

in

capital

shares

for

each

fund

are

disclosed

in

detail

in

the

Statements

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of

a

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Other

Capital”

on

the

Statements

of

Changes

in

Net

Assets.

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

International

Equity

ETF

Equity

risk

15,620

-

15,620

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

1,437

-

1,437

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

28,644

28,644

Average

Market

Value

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Equity

risk

futures

$

85,364

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Equity

risk

futures

37,219

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

futures

31,750

BNY

Mellon

International

Equity

ETF

Equity

risk

futures

177,931

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

futures

99,417

Average

Notional

Value

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

swap

agreements

$

892,857

Gross

Appreciation

Gross

(Depreciation)

Net

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

33,682,759

$

(528,799)

$

33,153,960

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

23,863,789

(833,814)

23,029,975

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

29,104,971

(2,110,088)

26,994,883

BNY

Mellon

International

Equity

ETF

12,066,609

(233,500)

11,833,109

BNY

Mellon

Emerging

Markets

Equity

ETF

11,962,521

(405,110)

11,557,411

BNY

Mellon

Core

Bond

ETF

338,001

(1,291,572)

(953,571)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

524,590

(45,931)

478,659

BNY

Mellon

High

Yield

Beta

ETF

1,985,964

(162,340)

1,823,624

129

In-kind

Redemptions:

For

financial

reporting

purposes,

in-

kind

redemptions

are

treated

as

sales

of

securities

resulting

in

realized

capital

gains

or

losses

to

the

funds.

Because

such

gains

or

losses

are

not

taxable

to

the

funds

and

are

not

distributed

to

existing

fund

shareholders,

the

gains

or

losses

are

reclassified

from

accumulated

net

realized

gain

(loss)

to

paid-in

capital

at

the

end

of

the

funds’

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

The

table

below

summarizes

each

fund’s

in-kind

transactions

associated

with

creations

and

redemptions,

during

the

period

ended

April

30,

2021.

In-Kind

Transactions

Cost

of

Securities

Received

Value

of

Securities

Delivered

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

190,973,375

$

36,547,015

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

55,560,937

5,551,705

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

81,116,762

8,329,777

BNY

Mellon

International

Equity

ETF

6,332,177

1,584,955

BNY

Mellon

Emerging

Markets

Equity

ETF

-

5,216,384

BNY

Mellon

Core

Bond

ETF

28,641,808

1,701,778

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

4,997,825

-

BNY

Mellon

High

Yield

Beta

ETF

21,569,009

28,259,373

For

More

Information

2021

BNY

Mellon

Securities

Corporation

ETFSA0421

Telephone

Call

your

financial

representative

or

1-833-ETF-BNYM

(383-2696)

(inside

the

U.S.

only)

Mail

BNY

Mellon

ETF

Trust,

240

Greenwich

Street,

New

York,

New

York

10286

E-Mail

Send

your

request

to

info@bnymellon.com

Internet

Information

can

be

viewed

online

or

downloaded

at

www.im.bnymellon.com

BNY

Mellon

ETF

Trust

discloses,

at

www.im.bnymellon.com

,

the

identities

and

quantities

of

the

securities

held

by

each

fund

daily.

Each

fund

files

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(

“

SEC

”

)

for

the

first

and

third

quarters

of

each

fiscal

year

on

Form

N-PORT.

Each

fund

’

s

Forms

N-PORT

are

available

on

the

SEC

’

s

website

at

www.sec.gov

.

Additionally,

each

fund

makes

its

portfolio

holdings

for

the

first

and

third

quarters

of

the

most

recent

fiscal

year

available

at

https://

im.bnymellon.com/etfliterature

.

Each

fund

’

s

complete

schedule

of

portfolio

holdings,

as

filed

on

Form

N-PORT,

can

also

be

obtained

without

charge,

upon

request,

by

calling

1-833-383-2696.

A

description

of

the

policies

and

procedures

that

each

fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities,

and

information

regarding

how

each

fund

voted

these

proxies

for

the

most

recent

12-month

period

ended

June

30

is

available

at

www.

im.bnymellon.com

and

on

the

SEC’s

website

at

www.sec.gov

.

The

description

of

the

policies

and

procedures

is

also

available

without

charge,

upon

request,

by

calling

1-833-383-2696.

BNY

Mellon

ETF

Trust

Custodian

c/o

BNY

Mellon

ETF

Investment

Adviser,

LLC

240

Greenwich

Street

New

York,

NY

10286

The

Bank

of

New

York

Mellon

240

Greenwich

Street

New

York,

NY

10286

Adviser

Transfer

Agent

&

Dividend

Disbursing

Agent

BNY

Mellon

ETF

Investment

Adviser,

LLC

201

Washington

Street

Boston,

MA

02108

The

Bank

of

New

York

Mellon

240

Greenwich

Street

New

York,

NY

10286

Sub-Adviser

Distributor

Mellon

Investments

Corporation

BNY

Mellon

Center

One

Boston

Place

Boston,

MA

02108

BNY

Mellon

Securities

Corporation

240

Greenwich

Street

New

York,

NY

10286

Ticker

Symbols:

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BKLC

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BKMC

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BKSE

BNY

Mellon

International

Equity

ETF

BKIE

BNY

Mellon

Emerging

Markets

Equity

ETF

BKEM

BNY

Mellon

Core

Bond

ETF

BKAG

BNY

Mellon

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BKSB

BNY

Mellon

High

Yield

Beta

ETF

BKHY

Item 1. Reports to Stockholders (cont.).

(b)Not applicable

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a)The Schedule of Investments in securities of unaffiliated issuers as of the close of the Reporting Period is included as part of the report to shareholders filed under Item 1 of this Form N-CSR.

(b)   Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of Trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

Item 11. Controls and Procedures.

(a)The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b)There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a)(1)   Not applicable.

(a)(2)   Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(3)   Not applicable.

(a)(4)   Not applicable.

(b)       Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)                             BNY Mellon ETF Trust                                                         

By (Signature and Title)*       /s/ David J. DiPetrillo                                                             
                                                David DiPetrillo, President

                                                (Principal Executive Officer)

Date    06/25/2021                             

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*       /s/ David J. DiPetrillo                                                             
                                                David DiPetrillo, President

                                                (Principal Executive Officer)

Date    06/25/2021                             

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

                                                (Principal Financial and Accounting Officer)

Date    06/25/2021                             

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