STATEMENT
OF
INVESTMENTS
January
31,
2024
(Unaudited)
1
Description
Shares
Value
($)
Common
Stocks
–
98.9%
China
–
1.1%
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
H
23,000
96,202
Denmark
–
6.5%
Novo
Nordisk
A/S,
Class
B
1,708
191,860
Novozymes
A/S,
Class
B
4,893
251,334
Orsted
A/S
(a)
2,467
140,025
583,219
Finland
–
1.0%
Neste
OYJ
2,476
85,759
France
–
17.0%
Capgemini
SE
708
158,536
Cie
de
Saint-Gobain
SA
2,212
157,390
Hermes
International
SCA
101
213,694
Legrand
SA
2,293
223,618
L'Oreal
SA
720
346,021
Sanofi
SA
2,725
274,936
Technip
Energies
NV
6,681
139,312
1,513,507
Germany
–
8.1%
Infineon
Technologies
AG
6,313
230,223
RWE
AG
2,827
104,882
SAP
SE
2,240
389,258
724,363
Hong
Kong
–
4.5%
AIA
Group
Ltd.
32,004
249,508
Prudential
PLC
15,052
156,113
405,621
India
–
2.5%
HDFC
Bank
Ltd.
12,502
220,183
Indonesia
–
2.2%
Bank
Rakyat
Indonesia
(Persero)
Tbk
PT
549,200
198,380
Ireland
–
3.8%
ICON
PLC
(b)
741
193,305
Smurfit
Kappa
Group
PLC
3,845
143,649
336,954
Japan
–
9.7%
Seven
&
i
Holdings
Co.
Ltd.
2,100
83,555
Sony
Group
Corp.
2,900
289,547
Suntory
Beverage
&
Food
Ltd.
4,500
147,737
Topcon
Corp.
12,200
141,745
STATEMENT
OF
INVESTMENTS
(continued)
2
See
Notes
to
Statement
of
Investments
Description
Shares
Value
($)
Common
Stocks
–
98.9%
(continued)
Japan
–
9.7%
(continued)
Toyota
Industries
Corp.
2,400
205,218
867,802
Netherlands
–
10.7%
ASML
Holding
NV
494
426,130
Universal
Music
Group
NV
7,221
213,587
Wolters
Kluwer
NV
2,099
309,634
949,351
Spain
–
3.9%
Industria
de
Diseno
Textil
SA
8,109
347,993
Switzerland
–
6.8%
Lonza
Group
AG
530
260,900
Roche
Holding
AG
392
112,247
Zurich
Insurance
Group
AG
456
232,029
605,176
Taiwan
–
3.6%
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
16,004
321,108
United
Kingdom
–
17.5%
Ashtead
Group
PLC
3,781
249,262
AstraZeneca
PLC
2,568
341,714
Bunzl
PLC
4,479
182,491
Croda
International
PLC
1,837
111,862
Genus
PLC
2,932
85,239
Informa
PLC
24,488
241,255
RELX
PLC
8,459
349,392
1,561,215
Total
Investments
(cost
$8,846,358)
98.9%
8,816,833
Cash
and
Receivables
(Net)
1.1%
95,700
Net
Assets
100.0%
8,912,533
(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
January
31,
2024,
these
securities
were
valued
at
$140,025
or
1.57%
of
net
assets.
(b)
Non-income
producing
security.
NOTES
TO
STATEMENT
OF
INVESTMENTS
(Unaudited)
3
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
International
Equity
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:
NOTES
TO
STATEMENT
OF
INVESTMENTS
(Unaudited)
(continued)
4
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,
2024
in
valuing
the
fund’s
investments:
5
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,
2024,
accumulated
net
unrealized
depreciation on
investments
was
$29,525,
consisting
of
gross
appreciation
of
$977,132
and
gross
depreciation
of
$1,006,657.
At
January
31,
2024,
the
cost
of
investments
for
federal
income
tax
purposes
was
substantially
the
same
as
the
cost
for
financial
reporting
purposes
(see
the
Statement
of
Investments).
Level
1
-
Unadjusted
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Total
Assets
($)
Investments
In
Securities:
†
Common
Stocks
8,816,833
—
—
8,816,833
†
See
Statement
of
Investments
for
additional
detailed
categorizations,
if
any.