ETFIS Series Trust I (PFFR) NPORT-P Virtus LifeSci Biotech Clinical Trials ETF (Jul 2022 report)

Schedule of Investments - Virtus LifeSci Biotech Clinical Trials ETF

July 31, 2022 (unaudited)

Security Description	Shares		Value
COMMON STOCKS - 98.7%
Health Care - 98.1%
AbCellera Biologics, Inc. (Canada)*		11,876	$	119,235
Adagio Therapeutics, Inc.*(1)		39,564		139,265
Adicet Bio, Inc.*		9,252		156,266
Affimed NV (Germany)*		46,013		130,217
Agenus, Inc.*		80,356		207,318
Akero Therapeutics, Inc.*		12,981		132,925
Alector, Inc.*(1)		12,995		132,809
Allogene Therapeutics, Inc.*(1)		11,462		148,777
ALX Oncology Holdings, Inc.*		15,756		152,518
AnaptysBio, Inc.*(1)		5,027		105,265
Arbutus Biopharma Corp.*		42,988		99,302
Arcturus Therapeutics Holdings, Inc.*		8,092		142,015
Arcus Biosciences, Inc.*		5,068		134,758
Arcutis Biotherapeutics, Inc.*		5,275		127,971
Arrowhead Pharmaceuticals, Inc.*		3,742		159,147
Arvinas, Inc.*		2,900		154,019
ATAI Life Sciences NV (Germany)*		32,341		124,836
Atara Biotherapeutics, Inc.*		20,244		61,339
Atea Pharmaceuticals, Inc.*		15,660		128,412
Athira Pharma, Inc.*		13,008		45,268
Avidity Biosciences, Inc.*(1)		8,852		144,199
Bicycle Therapeutics PLC (United Kingdom)*(1)(2)		8,009		188,692
Bioxcel Therapeutics, Inc.*(1)		11,365		175,476
C4 Therapeutics, Inc.*		19,305		186,100
Cara Therapeutics, Inc.*		13,395		117,072
Caribou Biosciences, Inc.*		20,369		165,396
Cassava Sciences, Inc.*(1)		4,267		69,680
Celldex Therapeutics, Inc.*		4,847		148,900
Cerevel Therapeutics Holdings, Inc.*(1)		4,295		112,916
Chinook Therapeutics, Inc.*		6,490		120,130
Codexis, Inc.*		11,779		80,804
Compass Pathways PLC (United Kingdom)*(1)(2)		11,061		172,441
Crinetics Pharmaceuticals, Inc.*		6,228		119,640
CRISPR Therapeutics AG (Switzerland)*(1)		1,795		134,625
Cullinan Oncology, Inc.*(1)		8,686		117,348
CureVac NV (Germany)*(1)		7,733		100,529
Cytokinetics, Inc.*		2,665		112,809
Day One Biopharmaceuticals, Inc.*(1)		6,601		113,075
Denali Therapeutics, Inc.*		4,875		165,847
Design Therapeutics, Inc.*		7,775		152,545
DICE Therapeutics, Inc.*(1)		7,540		129,990
Dynavax Technologies Corp.*(1)		9,970		143,369
Edgewise Therapeutics, Inc.*		17,469		168,925
Editas Medicine, Inc.*(1)		10,440		166,100
EQRx, Inc.*(1)		27,494		149,842
Erasca, Inc.*(1)		21,487		162,012
Fate Therapeutics, Inc.*(1)		5,607		171,182
FibroGen, Inc.*		11,655		146,620
Foghorn Therapeutics, Inc.*		8,258		120,815
Geron Corp.*		81,613		155,065
GH Research PLC (Ireland)*		10,026		111,890
Gossamer Bio, Inc.*		17,496		196,480
Ideaya Biosciences, Inc.*		9,156		136,608
IGM Biosciences, Inc.*		7,319		117,909
I-Mab (China)*(2)		11,531		120,845
Imago Biosciences, Inc.*(1)		8,189		131,843

Security Description	Shares		Value
COMMON STOCKS (continued)
Health Care (continued)
ImmunityBio, Inc.*(1)		35,048	$	136,337
ImmunoGen, Inc.*		32,341		153,296
Immunovant, Inc.*		30,367		125,112
Inhibrx, Inc.*(1)		12,263		212,640
Inovio Pharmaceuticals, Inc.*		72,540		143,629
Instil Bio, Inc.*		21,404		120,719
Intellia Therapeutics, Inc.*		2,720		176,147
Iovance Biotherapeutics, Inc.*(1)		13,519		157,496
iTeos Therapeutics, Inc.*		5,828		142,553
IVERIC bio, Inc.*		11,075		118,392
Karuna Therapeutics, Inc.*		1,050		136,763
Keros Therapeutics, Inc.*		3,825		122,706
Kezar Life Sciences, Inc.*		22,136		216,269
Kodiak Sciences, Inc.*		14,555		144,822
Krystal Biotech, Inc.*(1)		2,071		150,313
Kura Oncology, Inc.*		7,650		117,122
Kymera Therapeutics, Inc.*		7,222		159,101
Lyell Immunopharma, Inc.*(1)		23,117		128,762
Madrigal Pharmaceuticals, Inc.*		1,519		95,424
MeiraGTx Holdings PLC*		14,362		118,917
Mersana Therapeutics, Inc.*		35,048		177,693
Merus NV (Netherlands)*		5,220		126,220
Mirati Therapeutics, Inc.*		1,989		128,092
Morphic Holding, Inc.*(1)		5,068		134,150
NGM Biopharmaceuticals, Inc.*		8,327		120,575
Nkarta, Inc.*(1)		8,576		115,862
Novavax, Inc.*(1)		2,693		146,795
Nurix Therapeutics, Inc.*		10,813		172,575
Nuvation Bio, Inc.*		30,450		84,042
Phathom Pharmaceuticals, Inc.*		16,847		155,161
PMV Pharmaceuticals, Inc.*(1)		11,061		165,362
Point Biopharma Global, Inc.*		15,135		111,091
Precigen, Inc.*		85,618		134,420
Prelude Therapeutics, Inc.*		24,180		120,900
Prometheus Biosciences, Inc.*		4,184		178,531
Protagonist Therapeutics, Inc.*(1)		14,237		141,658
Prothena Corp. PLC (Ireland)*		4,557		141,540
RAPT Therapeutics, Inc.*		7,015		129,216
Reata Pharmaceuticals, Inc. Class A*		3,604		110,571
Recursion Pharmaceuticals, Inc. Class A*(1)		16,847		142,526
REGENXBIO, Inc.*		5,248		164,630
Relay Therapeutics, Inc.*		7,526		143,145
Relmada Therapeutics, Inc.*(1)		6,118		156,621
Repare Therapeutics, Inc. (Canada)*		7,637		96,532
Replimune Group, Inc.*		7,153		137,910
REVOLUTION Medicines, Inc.*(1)		6,214		140,374
Rocket Pharmaceuticals, Inc.*(1)		9,860		142,970
Sangamo Therapeutics, Inc.*		31,651		135,783
Seres Therapeutics, Inc.*		38,694		159,032
Sorrento Therapeutics, Inc.*		74,087		192,626
SpringWorks Therapeutics, Inc.*		5,151		153,912
Stoke Therapeutics, Inc.*		9,970		147,456
Syndax Pharmaceuticals, Inc.*		6,628		135,012
TG Therapeutics, Inc.*(1)		27,135		162,539
uniQure NV (Netherlands)*		7,802		197,781
Vaxart, Inc.*(1)		37,175		136,804
Vaxcyte, Inc.*		5,910		136,403
Ventyx Biosciences, Inc.*(1)		8,023		121,228

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

July 31, 2022 (unaudited)

Security Description	Shares		Value
COMMON STOCKS (continued)
Health Care (continued)
Vir Biotechnology, Inc.*		4,695	$	130,568
Xencor, Inc.*		5,220		149,762
Xenon Pharmaceuticals, Inc. (Canada)*		3,673		121,760
Zentalis Pharmaceuticals, Inc.*		4,819		140,715
Zymeworks, Inc. (Canada)*		17,980		105,003
Total Health Care				16,551,447
Materials - 0.6%
Amyris, Inc.*(1)		56,770		101,051
Total Common Stocks
(Cost $25,295,303)				16,652,498
SECURITIES LENDING COLLATERAL - 12.2%
Money Market Fund - 12.2%
Dreyfus Government Cash Management Fund, Institutional Shares, 1.83%(3)(4)
(Cost $2,066,095)		2,066,095		2,066,095
TOTAL INVESTMENTS - 110.9%
(Cost $27,361,398)				18,718,593
Liabilities in Excess of Other Assets - (10.9)%				(1,846,446	)
Net Assets - 100.0%			$	16,872,147

*	Non-income producing security.
(1)	All or a portion of the security was on loan. The aggregate market value of securities on loan was $3,666,946; total market value of collateral held by the Fund was $3,882,275. Market value of the collateral held includes non-cash U.S. Treasury securities having a value of $1,816,180.
(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, 2022.

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

July 31, 2022 (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, 2022.

	Level 1		Level 2		Level 3		Total
Asset Valuation Inputs
Common Stocks	$	16,652,498	$	—	$	—	$	16,652,498
Money Market Fund		2,066,095		—		—		2,066,095
Total	$	18,718,593	$	—	$	—	$	18,718,593