ETFIS Series Trust I (PFFR) NPORT-P Virtus LifeSci Biotech Clinical Trials ETF (Jul 2021 report)

Schedule of Investments - Virtus LifeSci Biotech Clinical Trials ETF

July 31, 2021 (unaudited)

Security Description	Shares		Value
COMMON STOCKS - 98.7%
Health Care - 98.1%
4D Molecular Therapeutics, Inc.*		7,642	$	190,057
89bio, Inc.*		11,442		179,182
AbCellera Biologics, Inc. (Canada)*		9,111		138,214
AC Immune SA (Switzerland)*(1)		30,187		219,761
Adaptimmune Therapeutics PLC*(2)		49,819		177,854
Adverum Biotechnologies, Inc.*		60,785		137,982
Affimed NV (Germany)*		26,757		177,934
Agenus, Inc.*(1)		43,519		225,428
Akebia Therapeutics, Inc.*		61,284		151,371
Akero Therapeutics, Inc.*(1)		7,526		161,357
Albireo Pharma, Inc.*		6,523		186,623
Aldeyra Therapeutics, Inc.*(1)		18,201		161,989
Alector, Inc.*		10,556		253,713
Aligos Therapeutics, Inc.*(1)		7,167		104,423
Allakos, Inc.*		2,462		195,877
Allogene Therapeutics, Inc.*(1)		8,817		193,533
Allovir, Inc.*(1)		9,854		188,606
ALX Oncology Holdings, Inc.*(1)		3,718		217,726
AnaptysBio, Inc.*		8,987		206,521
Annexon, Inc.*		9,515		200,386
Annovis Bio, Inc.*(1)		2,518		86,695
Applied Molecular Transport, Inc.*(1)		4,565		127,957
Applied Therapeutics, Inc.*(1)		9,247		159,141
Arcturus Therapeutics Holdings, Inc.*(1)		6,229		195,030
Arcus Biosciences, Inc.*(1)		9,111		286,177
Arcutis Biotherapeutics, Inc.*		7,692		179,454
Ardelyx, Inc.*		30,187		52,525
Arena Pharmaceuticals, Inc.*		3,350		207,231
Arrowhead Pharmaceuticals, Inc.*		2,530		175,304
Arvinas, Inc.*		2,655		268,420
Ascendis Pharma A/S (Denmark)*(2)		1,664		196,668
Atara Biotherapeutics, Inc.*		15,258		194,539
Atea Pharmaceuticals, Inc.*(1)		9,395		235,251
Athenex, Inc.*		43,604		164,387
Athira Pharma, Inc.*(1)		11,530		110,803
Atreca, Inc. Class A*(1)		21,550		118,309
Avidity Biosciences, Inc.*		8,613		166,317
Avrobio, Inc.*		23,398		172,209
Axsome Therapeutics, Inc.*		3,313		160,979
Bicycle Therapeutics PLC (United Kingdom)*(2)		7,509		237,284
BioAtla, Inc.*		5,603		229,667
Bioxcel Therapeutics, Inc.*(1)		5,831		149,215
Black Diamond Therapeutics, Inc.*		17,462		166,937
Bolt Biotherapeutics, Inc.*(1)		13,706		152,822
Bridgebio Pharma, Inc.*		3,509		187,556
C4 Therapeutics, Inc.*		5,312		229,160
Cara Therapeutics, Inc.*		15,577		186,457
Cardiff Oncology, Inc.*		27,114		144,246
Cassava Sciences, Inc.*(1)		2,951		205,183
Celldex Therapeutics, Inc.*		8,300		363,125
CEL-SCI Corp.*(1)		10,477		84,130
Cerevel Therapeutics Holdings, Inc.*(1)		16,484		406,166
ChemoCentryx, Inc.*		16,985		251,038
Chimerix, Inc.*		26,472		175,509
Chinook Therapeutics, Inc.*		13,299		173,286
Clovis Oncology, Inc.*(1)		38,303		185,003
Codexis, Inc.*(1)		10,385		219,747
Codiak Biosciences, Inc.*		8,755		151,462
Cogent Biosciences, Inc.*(1)		24,554		147,324

Security Description	Shares		Value
COMMON STOCKS (continued)
Health Care (continued)
Compass Pathways PLC (United Kingdom)*(2)		5,724	$	203,088
Compugen Ltd. (Israel)*(1)		26,285		178,475
Cortexyme, Inc.*(1)		4,703		265,767
Crinetics Pharmaceuticals, Inc.*		11,810		212,344
CRISPR Therapeutics AG (Switzerland)*		1,737		210,212
Cue Biopharma, Inc.*		16,448		171,388
Cullinan Oncology, Inc.*(1)		7,281		166,953
CureVac NV (Germany)*(1)		2,259		111,278
Curis, Inc.*(1)		27,718		210,380
Cytokinetics, Inc.*(1)		10,237		303,834
CytomX Therapeutics, Inc.*		30,896		167,147
Denali Therapeutics, Inc.*		2,980		152,069
Dicerna Pharmaceuticals, Inc.*		5,880		220,559
Dynavax Technologies Corp.*(1)		24,799		231,623
Editas Medicine, Inc.*(1)		5,806		243,039
Essa Pharma, Inc. (Canada)*		8,233		184,172
Evelo Biosciences, Inc.*(1)		13,690		126,085
Fate Therapeutics, Inc.*		2,486		205,841
FibroGen, Inc.*(1)		8,663		112,619
Forma Therapeutics Holdings, Inc.*(1)		9,220		211,046
Forte Biosciences, Inc.*		5,512		165,140
Frequency Therapeutics, Inc.*(1)		22,391		186,517
G1 Therapeutics, Inc.*(1)		9,832		170,192
Gamida Cell Ltd. (Israel)*		34,842		179,785
Gemini Therapeutics, Inc.*(1)		19,673		80,069
Geron Corp.*		154,267		188,206
Gossamer Bio, Inc.*(1)		25,361		199,337
Gracell Biotechnologies, Inc. (China)*(2)		15,363		190,962
Gritstone bio, Inc.*		21,930		146,492
Harpoon Therapeutics, Inc.*		14,488		141,838
Homology Medicines, Inc.*(1)		30,269		192,511
Humanigen, Inc.*(1)		10,901		175,724
Ideaya Biosciences, Inc.*		10,177		249,337
IGM Biosciences, Inc.*		2,328		158,327
I-Mab (China)*(2)		3,086		240,955
Immatics NV (Germany)*		18,350		224,054
ImmunityBio, Inc.*		14,982		164,203
Immunocore Holdings PLC (United Kingdom)*(2)		5,634		184,344
ImmunoGen, Inc.*		33,943		190,420
Immunovant, Inc.*		20,827		217,850
Inhibrx, Inc.*(1)		9,153		260,494
Inovio Pharmaceuticals, Inc.*(1)		25,105		210,882
Intellia Therapeutics, Inc.*		2,542		360,583
Iovance Biotherapeutics, Inc.*		9,371		208,692
iTeos Therapeutics, Inc.*		8,134		195,460
IVERIC bio, Inc.*		36,079		311,362
Kadmon Holdings, Inc.*		54,162		203,649
KalVista Pharmaceuticals, Inc.*		7,893		158,965
Karuna Therapeutics, Inc.*		1,728		197,372
Keros Therapeutics, Inc.*	��	4,229		155,627
Kodiak Sciences, Inc.*(1)		2,636		221,002
Kronos Bio, Inc.*(1)		8,554		174,929
Krystal Biotech, Inc.*		3,455		201,910
Kura Oncology, Inc.*		9,572		181,294
Kymera Therapeutics, Inc.*		4,421		266,056
Legend Biotech Corp.*(2)		5,531		237,999
Lexicon Pharmaceuticals, Inc.*(1)		46,699		165,314
MacroGenics, Inc.*		10,754		268,420
Madrigal Pharmaceuticals, Inc.*		2,078		181,451

Schedule of Investments - Virtus LifeSci Biotech Clinical Trials ETF (continued)

July 31, 2021 (unaudited)

Security Description	Shares		Value
COMMON STOCKS (continued)
Health Care (continued)
Magenta Therapeutics, Inc.*		19,673	$	140,072
Marinus Pharmaceuticals, Inc.*(1)		11,930		175,371
MEI Pharma, Inc.*(1)		68,197		184,132
MeiraGTx Holdings PLC*		14,736		206,157
Mersana Therapeutics, Inc.*		14,912		164,032
Merus NV (Netherlands)*		9,876		169,867
Mirati Therapeutics, Inc.*		1,318		210,959
Mirum Pharmaceuticals, Inc.*		12,602		182,099
Molecular Templates, Inc.*(1)		25,049		175,343
Morphic Holding, Inc.*(1)		3,442		198,328
Myovant Sciences Ltd.*(1)		10,270		210,740
NGM Biopharmaceuticals, Inc.*		11,501		234,505
Nkarta, Inc.*(1)		8,337		264,783
Novavax, Inc.*(1)		1,077		193,138
Nurix Therapeutics, Inc.*		7,570		232,702
Nuvation Bio, Inc.*(1)		19,604		169,379
Olema Pharmaceuticals, Inc.*(1)		7,479		175,607
Orchard Therapeutics PLC (United Kingdom)*(1)(2)		44,471		127,632
ORIC Pharmaceuticals, Inc.*		11,349		188,961
Paratek Pharmaceuticals, Inc.*(1)		21,447		111,524
Passage Bio, Inc.*		15,459		182,416
Phathom Pharmaceuticals, Inc.*		6,476		207,880
Pliant Therapeutics, Inc.*(1)		6,799		137,340
PMV Pharmaceuticals, Inc.*(1)		6,556		222,970
Poseida Therapeutics, Inc.*(1)		24,287		196,968
Praxis Precision Medicines, Inc.*		10,801		168,496
Precigen, Inc.*		31,729		174,192
Precision BioSciences, Inc.*		19,267		189,973
Prelude Therapeutics, Inc.*(1)		6,622		212,169
Prometheus Biosciences, Inc.*		9,519		199,613
Protagonist Therapeutics, Inc.*		5,441		268,949
Prothena Corp. PLC (Ireland)*		4,694		235,169
Provention Bio, Inc.*(1)		24,909		151,198
RAPT Therapeutics, Inc.*		5,589		171,415
Reata Pharmaceuticals, Inc. Class A*(1)		1,560		195,484
REGENXBIO, Inc.*		5,962		192,692
Relay Therapeutics, Inc.*		6,544		212,287
Relmada Therapeutics, Inc.*		7,056		183,456
Repare Therapeutics, Inc. (Canada)*		6,828		228,055
Replimune Group, Inc.*		6,452		211,174
REVOLUTION Medicines, Inc.*(1)		6,471		185,329
Rhythm Pharmaceuticals, Inc.*		10,765		186,127
Rocket Pharmaceuticals, Inc.*(1)		4,734		169,572
Rubius Therapeutics, Inc.*(1)		7,868		169,083
Sangamo Therapeutics, Inc.*		19,037		182,374
Scholar Rock Holding Corp.*		6,975		217,969
Selecta Biosciences, Inc.*		44,648		154,482
Seres Therapeutics, Inc.*		10,827		76,872
Sesen Bio, Inc.*(1)		52,632		196,317
Shattuck Labs, Inc.*		7,854		173,102	��
Silverback Therapeutics, Inc.*		6,701		202,906
Sorrento Therapeutics, Inc.*(1)		23,646		194,134
SpringWorks Therapeutics, Inc.*		2,774		237,732
Stoke Therapeutics, Inc.*(1)		5,786		165,653
Sutro Biopharma, Inc.*		11,644		198,297
Syndax Pharmaceuticals, Inc.*		11,835		172,554
Syros Pharmaceuticals, Inc.*(1)		37,977		175,454
Tarsus Pharmaceuticals, Inc.*		6,319		142,620

Security Description	Shares		Value
COMMON STOCKS (continued)
Health Care (continued)
Taysha Gene Therapies, Inc.*(1)		8,697	$	150,371
TCR2 Therapeutics, Inc.*		12,379		153,995
TG Therapeutics, Inc.*(1)		5,840		204,342
Translate Bio, Inc.*(1)		10,536		291,215
Turning Point Therapeutics, Inc.*		2,880		183,802
uniQure NV (Netherlands)*		6,411		185,983
Vaxart, Inc.*(1)		25,589		183,985
Verastem, Inc.*		47,291		152,750
Viking Therapeutics, Inc.*(1)		36,791		226,265
Vir Biotechnology, Inc.*		4,912		175,113
Vor BioPharma, Inc.*(1)		10,026		125,526
WaVe Life Sciences Ltd.*		30,600		168,606
XBiotech, Inc.		13,346		216,205
Xencor, Inc.*(1)		5,992		184,434
Xenon Pharmaceuticals, Inc. (Canada)*		12,091		208,812
Zentalis Pharmaceuticals, Inc.*		3,992		212,414
ZIOPHARM Oncology, Inc.*		75,826		172,125
Zymeworks, Inc. (Canada)*		5,894		189,138
Total Health Care				36,909,778
Materials - 0.6%
Amyris, Inc.*(1)		14,284		208,261
Total Common Stocks
(Cost $45,708,162)				37,118,039
SECURITIES LENDING COLLATERAL - 15.2%
Money Market Fund - 15.2%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(3)(4)
(Cost $5,713,911)		5,713,911		5,713,911
TOTAL INVESTMENTS - 113.9%
(Cost $51,422,073)				42,831,950
Liabilities in Excess of Other Assets - (13.9)%				(5,223,658	)
Net Assets - 100.0%			$	37,608,292

*	Non-income producing security.
(1)	All or a portion of the security was on loan. The aggregate market value of securities on loan was $10,051,147; total market value of collateral held by the Fund was $10,854,795. Market value of the collateral held includes non-cash U.S. Treasury securities having a value of $5,140,884.
(2)	American Depositary Receipts.
(3)	Represents securities purchased with cash collateral received for securities on loan.
(4)	The rate shown reflects the seven-day yield as of July 31, 2021.

Schedule of Investments - Virtus LifeSci Biotech Clinical Trials ETF (continued)

July 31, 2021 (unaudited)

Fair Value Measurements

The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes valuation of the Fund’s investments under the fair value hierarchy levels as of July 31, 2021.

	Level 1		Level 2		Level 3		Total
Asset Valuation Inputs
Common Stocks	$	37,118,039	$	–	$	–	$	37,118,039
Money Market Fund		5,713,911		–		–		5,713,911
Total	$	42,831,950	$	–	$	–	$	42,831,950