STATEMENT
OF
INVESTMENTS
January
31,
2023
(Unaudited)
1
Description
Shares
Value
($)
Common
Stocks
–
96.9%
Brazil
–
7.2%
Afya
Ltd.,
Class
A
(a)
7,552
115,394
Fleury
SA
37,269
113,577
Raia
Drogasil
SA
44,644
219,425
WEG
SA
40,239
303,836
752,232
China
–
29.9%
Aier
Eye
Hospital
Group
Co.
Ltd.,
Class
A
23,135
112,509
By-health
Co.
Ltd.,
Class
A
87,000
296,912
Contemporary
Amperex
Technology
Co.
Ltd.,
Class
A
3,600
247,852
Flat
Glass
Group
Co.
Ltd.,
Class
H
13,750
42,962
Guangzhou
Kingmed
Diagnostics
Group
Co.
Ltd.,
Class
A
13,497
167,990
Jiangsu
Hengrui
Medicine
Co.
Ltd.,
Class
A
30,400
189,906
LONGi
Green
Energy
Technology
Co.
Ltd.,
Class
A
26,980
192,259
Medlive
Technology
Co.
Ltd.
(b)
26,625
36,740
NARI
Technology
Co.
Ltd.,
Class
A
62,040
242,304
Pharmaron
Beijing
Co.
Ltd.,
Class
H
(b)
37,490
274,440
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
H
25,375
196,433
Shenzhen
Inovance
Technology
Co.
Ltd.,
Class
A
36,600
385,557
Shenzhen
Mindray
Bio-Medical
Electronics
Co.
Ltd.,
Class
A
3,200
157,534
StarPower
Semiconductor
Ltd.,
Class
A
1,600
74,767
Sungrow
Power
Supply
Co.
Ltd.,
Class
A
8,600
165,459
Wuhan
DR
Laser
Technology
Corp.
Ltd.,
Class
A
6,700
140,585
Wuxi
Lead
Intelligent
Equipment
Co.,
Ltd.,
Class
A
26,100
178,186
3,102,395
Denmark
–
1.8%
Novozymes
A/S,
Class
B
3,514
182,255
France
–
2.1%
L'Oreal
SA
536
220,293
Germany
–
2.4%
Infineon
Technologies
AG
6,973
249,518
Hong
Kong
–
5.3%
AIA
Group
Ltd.
37,650
425,181
Vitasoy
International
Holdings
Ltd.
58,320
123,763
548,944
India
–
25.4%
Apollo
Hospitals
Enterprise
Ltd.
2,006
104,205
Bandhan
Bank
Ltd.
(a)(b)
61,573
183,527
Dr.
Lal
PathLabs
Ltd.
(b)
6,841
175,457
Godrej
Consumer
Products
Ltd.
(a)
21,365
238,153
Havells
India
Ltd.
8,035
115,898
HDFC
Bank
Ltd.
14,636
286,454
HDFC
Life
Insurance
Co.
Ltd.
(b)
15,534
109,752
STATEMENT
OF
INVESTMENTS
(continued)
2
Description
Shares
Value
($)
Common
Stocks
–
96.9%
(continued)
India
–
25.4%
(continued)
Hindustan
Unilever
Ltd.
8,861
278,688
Housing
Development
Finance
Corp.
Ltd.
7,249
232,077
Info
Edge
India
Ltd.
3,935
176,314
Marico
Ltd.
47,323
287,708
PB
Fintech
Ltd.
(a)
11,699
61,195
Syngene
International
Ltd.
(b)
12,704
87,191
Tata
Consultancy
Services
Ltd.
7,354
301,480
2,638,099
Indonesia
–
2.9%
Bank
Rakyat
Indonesia
(
Persero
)
Tbk
PT
1,000,634
305,731
Mexico
–
1.4%
Bolsa
Mexicana
de
Valores
SAB
de
CV
67,481
146,533
Netherlands
–
2.6%
ASML
Holding
NV
406
265,976
Philippines
–
0.0%
ACEN
Corp.
38,130
4,886
Russia
–
0.0%
HeadHunter
Group
PLC,
ADR
(c)
2,862
0
South
Africa
–
4.4%
Capitec
Bank
Holdings
Ltd.
1,471
151,475
Clicks
Group
Ltd.
10,965
167,235
Discovery
Ltd.
(a)
17,958
142,426
461,136
South
Korea
–
2.0%
Samsung
SDI
Co.
Ltd.
368
204,644
Taiwan
–
7.6%
Delta
Electronics,
Inc.
16,000
154,005
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
36,750
638,918
792,923
United
States
–
1.9%
Livent
Corp.
(a)
7,549
195,670
Total
Investments
(cost
$10,939,698)
96.9%
10,071,235
Cash
and
Receivables
(Net)
3.1%
319,253
Net
Assets
100.0%
10,390,488
ADR—American
Depositary
Receipt
3
See
Notes
to
Statement
of
Investments
(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
January
31,
2023,
these
securities
were
valued
at
$867,107
or
8.35%
of
net
assets.
(c)
The
fund
held
Level
3
securities
at
January
31,
2023.
These
securities
were
valued
at
$0
or
0.00%
of
net
assets.
NOTES
TO
STATEMENT
OF
INVESTMENTS
(Unaudited)
4
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. BNY
Mellon
Sustainable
Global
Emerging
Markets
ETF (the
“fund”)
is an
investment
company
and
applies
the
accounting
and
reporting
guidance
of
the
FASB
ASC
Topic
946
Financial
Services-Investment
Companies. The
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.
(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
the
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
fund’s
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
the
fund’s
investments
are
as
follows:
5
BNY
Mellon
ETF
Trust’s
(the
“Trust”) Board
of
Trustees
(the
“Board”)
has
designated
the
Adviser
as
the
fund’s
valuation
designee
to
make
all
fair
value
determinations
with
respect
to
the
fund’s
portfolio
of
investments,
subject
to
the
Board’s
oversight
and
pursuant
to
Rule
2a-5
under
the
Act.
Investments
in
equity
securities,
including
ETFs
(but
not
including
investments
in
other
open-end
registered
investment
companies)
generally
are
valued
at
the
last
sales
price
on
the
day
of
valuation
on
the
securities
exchange
or
national
securities
market
on
which
such
securities
primarily
are
traded.
Securities
listed
on
the
National
Association
of
Securities
Dealers
Automated
Quotation
System
(“NASDAQ”)
for
which
market
quotations
are
available
will
be
valued
at
the
official
closing
price.
If
there
are
no
transactions
in
a
security,
or
no
official
closing
prices
for
a
NASDAQ
market-listed
security
on
that
day,
the
security
will
be
valued
at
the
average
of
the
most
recent
bid
and
asked
prices.
Bid
price
is
used
when
no
asked
price
is
available.
Open
short
positions
for
which
there
is
no
sale
price
on
a
given
day
are
valued
at
the
lowest
asked
price.
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.
When
market
quotations
or
official
closing
prices
are
not
readily
available,
or
are
determined
not
to
reflect
fair
value
accurately,
they are
valued
at
fair
value
as
determined
in
good
faith
based
on
procedures
approved
by
the
Board.
Fair
value
of
investments
may
be
determined
by
valuation
designee
using
such
information
as
it
deems
appropriate
under
the
circumstances.
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
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.
The
table
below
summarizes
the
inputs
used
as
of January
31,
2023
in
valuing
the
fund’s
investments:
NOTES
TO
STATEMENT
OF
INVESTMENTS
(Unaudited)
(continued)
6
Fair
Value
Measurements
Additional
investment
related
disclosures
are
hereby
incorporated
by
reference
to
the
annual
and
semi-annual
reports
previously
filed
with
the
SEC
on
Form
N-CSR.
At January
31,
2023,
accumulated
net
unrealized
depreciation on
investments
was
$868,463,
consisting
of
gross
appreciation
of
$347,806
and
gross
depreciation
of
$1,216,269.
At
January
31,
2023,
the
cost
of
investments
for
federal
income
tax
purposes
was
substantially
the
same
as
the
cost
for
financial
reporting
purposes
(see
the
Statement
of
Investments).
Level
1
-
Unadjusted
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Total
Assets
($)
Investments
In
Securities:
†
Common
Stocks
10,071,235
—
0
10,071,235
†
See
Statement
of
Investments
for
additional
detailed
categorizations,
if
any.