ETFIS Series Trust I NPORTP Virtus Newfleet Multi-Sector Bond ETF (Jul 2022 report)

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF

July 31, 2022 (unaudited)

Security Description	Principal		Value
CORPORATE BONDS – 31.4%
Communication Services – 1.8%
CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 03/01/30⁽¹⁾	$	25,000	$	22,785
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 08/15/30⁽¹⁾		75,000		66,798
CommScope, Inc., 4.75%, 09/01/29⁽¹⁾		15,000		13,078
DISH DBS Corp., 7.75%, 07/01/26		45,000		37,475
Frontier Communications Holdings LLC, 8.75%, 05/15/30⁽¹⁾		10,000		10,635
Level 3 Financing, Inc., 4.25%, 07/01/28⁽¹⁾		15,000		13,124
Level 3 Financing, Inc., 3.63%, 01/15/29⁽¹⁾		55,000		46,083
McGraw-Hill Education, Inc., 5.75%, 08/01/28⁽¹⁾		45,000		40,466
McGraw-Hill Education, Inc., 8.00%, 08/01/29⁽¹⁾		55,000		46,329
Millennium Escrow Corp., 6.63%, 08/01/26⁽¹⁾		40,000		31,482
Nexstar Media, Inc., 4.75%, 11/01/28⁽¹⁾		20,000		18,679
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 10.75%, 06/01/28⁽¹⁾		40,000		35,807
Rackspace Technology Global, Inc., 5.38%, 12/01/28⁽¹⁾		70,000		51,614
T-Mobile USA, Inc., 3.88%, 04/15/30		105,000		101,065
Twitter, Inc., 3.88%, 12/15/27⁽¹⁾		40,000		38,117
Total Communication Services				573,537
Consumer Discretionary – 3.1%
At Home Group, Inc., 4.88%, 07/15/28⁽¹⁾		10,000		7,875
At Home Group, Inc., 7.13%, 07/15/29⁽¹⁾		40,000		26,734
Brunswick Corp., 2.40%, 08/18/31		97,000		74,488
Caesars Entertainment, Inc., 6.25%, 07/01/25⁽¹⁾		30,000		29,962
Caesars Entertainment, Inc., 8.13%, 07/01/27⁽¹⁾		5,000		5,007
Carriage Services, Inc., 4.25%, 05/15/29⁽¹⁾		45,000		39,209
Clarios Global LP / Clarios US Finance Co., 8.50%, 05/15/27⁽¹⁾		45,000		45,471
Cooper-Standard Automotive, Inc., 13.00%, 06/01/24⁽¹⁾		20,000		21,362
Dick’s Sporting Goods, Inc., 3.15%, 01/15/32		84,000		68,912
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29⁽¹⁾		55,000		41,198
Ford Motor Co., 3.25%, 02/12/32		49,000		40,988
Ford Motor Co., 4.75%, 01/15/43		70,000		57,792
Jacobs Entertainment, Inc., 6.75%, 02/15/29⁽¹⁾		45,000		37,432
M/I Homes, Inc., 4.95%, 02/01/28		55,000		50,734
Metis Merger Sub LLC, 6.50%, 05/15/29⁽¹⁾		25,000		21,324
Mohegan Gaming & Entertainment, 8.00%, 02/01/26⁽¹⁾		50,000		44,879
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/26⁽¹⁾		65,000		63,679
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.63%, 09/01/29⁽¹⁾		90,000		72,897
PulteGroup, Inc., 7.88%, 06/15/32		50,000		58,161
PulteGroup, Inc., 6.38%, 05/15/33		30,000		32,124
Station Casinos LLC, 4.50%, 02/15/28⁽¹⁾		50,000		45,431
Tenneco, Inc., 5.38%, 12/15/24		20,000		19,557
Tenneco, Inc., 5.13%, 04/15/29⁽¹⁾		45,000		44,331
Under Armour, Inc., 3.25%, 06/15/26		30,000		27,567
Weekley Homes LLC / Weekley Finance Corp., 4.88%, 09/15/28⁽¹⁾		25,000		20,604
Total Consumer Discretionary				997,718

Security Description	Principal		Value
CORPORATE BONDS (continued)
Consumer Staples – 0.4%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.25%, 03/15/26⁽¹⁾	$	60,000	$	55,830
HLF Financing Sarl LLC / Herbalife International, Inc., 4.88%, 06/01/29⁽¹⁾		45,000		33,350
Turning Point Brands, Inc., 5.63%, 02/15/26⁽¹⁾		60,000		53,291
Total Consumer Staples				142,471
Energy – 4.2%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 7.50%, 05/01/25⁽¹⁾		105,000		104,055
Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.75%, 01/15/28⁽¹⁾		80,000		78,672
Antero Resources Corp., 7.63%, 02/01/29⁽¹⁾		8,000		8,441
Antero Resources Corp., 5.38%, 03/01/30⁽¹⁾		15,000		14,760
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 8.25%, 12/31/28⁽¹⁾		45,000		43,975
Callon Petroleum Co., 7.50%, 06/15/30⁽¹⁾		45,000		43,212
Calumet Specialty Products Partners LP / Calumet Finance Corp., 8.13%, 01/15/27⁽¹⁾		40,000		34,551
CITGO Petroleum Corp., 7.00%, 06/15/25⁽¹⁾		25,000		24,656
CrownRock LP / CrownRock Finance, Inc., 5.63%, 10/15/25⁽¹⁾		45,000		44,990
CrownRock LP / CrownRock Finance, Inc., 5.00%, 05/01/29⁽¹⁾		20,000		18,606
DCP Midstream Operating LP, 3.25%, 02/15/32		60,000		51,763
Earthstone Energy Holdings LLC, 8.00%, 04/15/27⁽¹⁾		40,000		38,328
Energy Transfer LP, Series H, 6.50%, (US 5 Year CMT T- Note + 5.69%), perpetual⁽²⁾⁽³⁾		75,000		68,250
Flex Intermediate Holdco LLC, 3.36%, 06/30/31⁽¹⁾		100,000		85,096
HF Sinclair Corp., 5.88%, 04/01/26⁽¹⁾		85,000		87,240
Hilcorp Energy I LP / Hilcorp Finance Co., 5.75%, 02/01/29⁽¹⁾		60,000		54,842
Hilcorp Energy I LP / Hilcorp Finance Co., 6.00%, 02/01/31⁽¹⁾		45,000		41,386
Kinder Morgan, Inc., Series G, 7.75%, 01/15/32		103,000		125,400
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26⁽¹⁾		45,000		42,942
Mesquite Energy, Inc., Escrow, 7.25%, 02/15/23		12,000		255
Nabors Industries Ltd., 7.25%, 01/15/26⁽¹⁾		25,000		22,763
Occidental Petroleum Corp., 6.13%, 01/01/31		45,000		48,287
Parsley Energy LLC / Parsley Finance Corp., 4.13%, 02/15/28⁽¹⁾		45,000		42,144
Sabine Pass Liquefaction LLC, 4.20%, 03/15/28		85,000		83,103
Southwestern Energy Co., 5.38%, 02/01/29		75,000		73,420

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
CORPORATE BONDS (continued)
Energy (continued)
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.88%, 02/01/31	$	5,000	$	4,707
Transocean, Inc., 11.50%, 01/30/27⁽¹⁾		4,000		3,801
USA Compression Partners LP / USA Compression Finance Corp., 6.88%, 04/01/26		63,000		59,156
Venture Global Calcasieu Pass LLC, 4.13%, 08/15/31⁽¹⁾		30,000		27,722
Venture Global Calcasieu Pass LLC, 3.88%, 11/01/33⁽¹⁾		10,000		8,703
Total Energy				1,385,226
Financials – 8.2%
Acrisure LLC / Acrisure Finance, Inc., 7.00%, 11/15/25⁽¹⁾		35,000		33,635
Allstate Corp. (The), Series B, 5.75%, (3-Month USD LIBOR + 2.94%), 08/15/53⁽²⁾		95,000		88,188
Ally Financial, Inc., Series B, 4.70%, (US 5 Year CMT T- Note + 3.87%), perpetual⁽²⁾⁽³⁾		118,000		99,807
Athene Global Funding, 2.45%, 08/20/27⁽¹⁾		70,000		61,680
Bank of America Corp., 1.73%, (SOFR + 0.96%), 07/22/27⁽²⁾		65,000		58,999
Bank of America Corp., 3.42%, (3-Month USD LIBOR + 1.04%), 12/20/28⁽²⁾		95,000		90,956
Bank of America Corp., 2.48%, (US 5 Year CMT T- Note + 1.20%), 09/21/36⁽²⁾		60,000		48,553
Bank of New York Mellon Corp. (The), Series G, 4.70%, (US 5 Year CMT T- Note + 4.36%), perpetual⁽²⁾⁽³⁾		90,000		89,865
Blackstone Private Credit Fund, 2.63%, 12/15/26⁽¹⁾		59,000		50,392
Blue Owl Finance LLC, 3.13%, 06/10/31⁽¹⁾		75,000		59,077
Brighthouse Financial, Inc., 5.63%, 05/15/30		50,000		50,400
BroadStreet Partners, Inc., 5.88%, 04/15/29⁽¹⁾		30,000		25,700
Charles Schwab Corp. (The), Series H, 4.00%, (US 10 Year CMT T- Note + 3.08%), perpetual⁽²⁾⁽³⁾		95,000		80,512
Citadel LP, 4.88%, 01/15/27⁽¹⁾		50,000		48,979
Citigroup, Inc., 3.98%, (3-Month USD LIBOR + 1.34%), 03/20/30⁽²⁾		210,000		203,476
Cobra AcquisitionCo. LLC, 6.38%, 11/01/29⁽¹⁾		45,000		33,770
Goldman Sachs Group, Inc. (The), 1.99%, (SOFR + 1.09%), 01/27/32⁽²⁾		240,000		197,890
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 05/15/26		25,000		24,889
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 5.25%, 05/15/27		25,000		24,061
JPMorgan Chase & Co., Series HH, 4.60%, (SOFR + 3.13%), perpetual⁽²⁾⁽³⁾		34,000		30,229
JPMorgan Chase & Co., 2.96%, (SOFR + 2.52%), 05/13/31⁽²⁾		105,000		93,945
JPMorgan Chase & Co., 1.95%, (SOFR + 1.07%), 02/04/32⁽²⁾		100,000		83,166
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.25%, 02/01/27⁽¹⁾		55,000		49,122

Security Description	Principal		Value
CORPORATE BONDS (continued)
Financials (continued)
Liberty Mutual Group, Inc., 4.13%, (US 5 Year CMT T- Note + 3.32%), 12/15/51⁽¹⁾⁽²⁾	$	50,000	$	41,648
Lincoln National Corp., 4.75%, (3-Month USD LIBOR + 2.04%), 04/20/67⁽²⁾		80,000		60,820
MetLife, Inc., Series D, 5.88%, (3-Month USD LIBOR + 2.96%), perpetual⁽²⁾⁽³⁾		52,000		50,754
MetLife, Inc., Series G, 3.85%, (US 5 Year CMT T- Note + 3.58%), perpetual⁽²⁾⁽³⁾		40,000		37,870
Midcap Financial Issuer Trust, 6.50%, 05/01/28⁽¹⁾		200,000		184,243
Morgan Stanley, 3.95%, 04/23/27		125,000		123,462
Navient Corp., 6.75%, 06/25/25		44,000		42,847
OWL Rock Core Income Corp., 4.70%, 02/08/27⁽¹⁾		38,000		35,083
Prudential Financial, Inc., 5.63%, (3-Month USD LIBOR + 3.92%), 06/15/43⁽²⁾		85,000		84,899
Prudential Financial, Inc., 5.13%, (US 5 Year CMT T- Note + 3.16%), 03/01/52⁽²⁾		79,000		75,614
Santander Holdings USA, Inc., 4.40%, 07/13/27		59,000		57,659
Synovus Financial Corp., 5.90%, (USD 5 Year Swap + 3.38%), 02/07/29⁽²⁾		25,000		24,573
Texas Capital Bancshares, Inc., 4.00%, (US 5 Year CMT T- Note + 3.15%), 05/06/31⁽²⁾		70,000		63,869
Truist Financial Corp., Series Q, 5.10%, (US 10 Year CMT T- Note + 4.35%), perpetual⁽²⁾⁽³⁾		60,000		57,690
Wells Fargo & Co., Series BB, 3.90%, (US 5 Year CMT T-Note + 3.45%), perpetual⁽²⁾⁽³⁾		130,000		120,494
Total Financials				2,688,816
Health Care – 2.6%
Akumin, Inc., 7.00%, 11/01/25⁽¹⁾		50,000		41,471
Avient Corp., 7.13%, 08/01/30⁽¹⁾		10,000		10,321
Bausch Health Americas, Inc., 9.25%, 04/01/26⁽¹⁾		24,000		16,764
Bausch Health Cos., Inc., 6.13%, 02/01/27⁽¹⁾		5,000		4,273
Bausch Health Cos., Inc., 7.00%, 01/15/28⁽¹⁾		35,000		19,483
Baxter International, Inc., 2.54%, 02/01/32		65,000		56,481
Bio-Rad Laboratories, Inc., 3.70%, 03/15/32		134,000		125,076
CHS/Community Health Systems, Inc., 6.88%, 04/15/29⁽¹⁾		20,000		11,154
CHS/Community Health Systems, Inc., 6.13%, 04/01/30⁽¹⁾		30,000		16,119
CHS/Community Health Systems, Inc., 5.25%, 05/15/30⁽¹⁾		35,000		29,494
CHS/Community Health Systems, Inc., 4.75%, 02/15/31⁽¹⁾		90,000		72,687
DENTSPLY SIRONA, Inc., 3.25%, 06/01/30		140,000		119,762
HCA, Inc., 5.63%, 09/01/28		17,000		17,653
Illumina, Inc., 2.55%, 03/23/31		102,000		86,107
Lannett Co., Inc., 7.75%, 04/15/26⁽¹⁾		10,000		3,650
Legacy LifePoint Health LLC, 6.75%, 04/15/25⁽¹⁾		20,000		19,606

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
CORPORATE BONDS (continued)
Health Care (continued)
Par Pharmaceutical, Inc., 7.50%, 04/01/27⁽¹⁾	$	30,000	$	24,256
Surgery Center Holdings, Inc., 6.75%, 07/01/25⁽¹⁾		12,000		11,405
Surgery Center Holdings, Inc., 10.00%, 04/15/27⁽¹⁾		30,000		30,615
Team Health Holdings, Inc., 6.38%, 02/01/25⁽¹⁾		40,000		27,370
Universal Health Services, Inc., 2.65%, 01/15/32⁽¹⁾		90,000		71,943
Viatris, Inc., Series WI, 2.70%, 06/22/30		45,000		36,913
Total Health Care				852,603
Industrials – 3.4%
Alaska Airlines 2020-1 Class A Pass-Through Trust, 4.80%, 08/15/27⁽¹⁾		66,181		65,514
Allied Universal Holdco LLC / Allied Universal Finance Corp., 6.63%, 07/15/26⁽¹⁾		55,000		53,356
American Airlines, Inc., 11.75%, 07/15/25⁽¹⁾		35,000		38,899
Aviation Capital Group LLC, 3.50%, 11/01/27⁽¹⁾		61,000		53,608
BlueLinx Holdings, Inc., 6.00%, 11/15/29⁽¹⁾		30,000		24,345
Boeing Co. (The), 5.15%, 05/01/30		45,000		45,474
Boeing Co. (The), 3.75%, 02/01/50		20,000		15,184
Boeing Co. (The), 5.93%, 05/01/60		23,000		22,824
Cleaver-Brooks, Inc., 7.88%, 03/01/23⁽¹⁾		40,000		40,081
CoStar Group, Inc., 2.80%, 07/15/30⁽¹⁾		138,000		116,897
Deluxe Corp., 8.00%, 06/01/29⁽¹⁾		20,000		17,506
General Electric Co., Series D, 5.16%, (3-Month USD LIBOR + 3.33%), perpetual⁽²⁾⁽³⁾		135,000		126,394
Global Infrastructure Solutions, Inc., 7.50%, 04/15/32⁽¹⁾		50,000		38,685
Huntington Ingalls Industries, Inc., 2.04%, 08/16/28		125,000		109,601
Oscar Acquisitionco LLC / Oscar Finance, Inc., 9.50%, 04/15/30⁽¹⁾		40,000		32,718
OT Merger Corp., 7.88%, 10/15/29⁽¹⁾		15,000		10,535
Pentair Finance Sarl, 5.90%, 07/15/32		90,000		93,696
Science Applications International Corp., 4.88%, 04/01/28⁽¹⁾		50,000		47,637
Sempra Global, 3.25%, 01/15/32⁽¹⁾		103,000		90,274
SRS Distribution, Inc., 6.13%, 07/01/29⁽¹⁾		45,000		40,541
TransDigm, Inc., 5.50%, 11/15/27		30,000		28,368
Total Industrials				1,112,137
Information Technology – 2.9%
Broadcom, Inc., 4.15%, 11/15/30		88,000		83,580
Broadcom, Inc., 2.45%, 02/15/31⁽¹⁾		17,000		14,221
Broadcom, Inc., 3.19%, 11/15/36⁽¹⁾		2,000		1,604
CDW LLC / CDW Finance Corp., 3.57%, 12/01/31		104,000		88,678
Citrix Systems, Inc., 3.30%, 03/01/30		80,000		78,596
Consensus Cloud Solutions, Inc., 6.00%, 10/15/26⁽¹⁾		5,000		4,608
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28⁽¹⁾		10,000		8,907
Dell International LLC / EMC Corp., 8.10%, 07/15/36		92,000		112,104

Security Description	Principal		Value
CORPORATE BONDS (continued)
Information Technology (continued)
Entegris Escrow Corp., 4.75%, 04/15/29⁽¹⁾	$	93,000	$	89,745
HP, Inc., 5.50%, 01/15/33		95,000		95,632
Kyndryl Holdings, Inc., 3.15%, 10/15/31⁽¹⁾		95,000		71,138
Leidos, Inc., 2.30%, 02/15/31		130,000		107,583
Motorola Solutions, Inc., 4.60%, 02/23/28		30,000		30,059
Motorola Solutions, Inc., 4.60%, 05/23/29		60,000		58,842
Oracle Corp., 2.88%, 03/25/31		50,000		43,139
TD SYNNEX Corp., 2.38%, 08/09/28		65,000		56,062
Viasat, Inc., 5.63%, 09/15/25⁽¹⁾		20,000		17,657
Total Information Technology				962,155
Materials – 2.0%
Albemarle Corp., 5.05%, 06/01/32		90,000		90,325
Bayport Polymers LLC, 5.14%, 04/14/32⁽¹⁾		80,000		79,709
Celanese US Holdings LLC, 5.90%, 07/05/24		30,000		30,233
Celanese US Holdings LLC, 6.17%, 07/15/27		25,000		25,404
Celanese US Holdings LLC, 6.38%, 07/15/32		16,000		16,447
Cleveland-Cliffs, Inc., 6.75%, 03/15/26⁽¹⁾		35,000		36,094
Freeport-McMoRan, Inc., 5.45%, 03/15/43		90,000		84,483
International Flavors & Fragrances, Inc., 2.30%, 11/01/30⁽¹⁾		130,000		111,658
New Enterprise Stone & Lime Co., Inc., 9.75%, 07/15/28⁽¹⁾		45,000		37,786
Trident TPI Holdings, Inc., 9.25%, 08/01/24⁽¹⁾		55,000		50,740
Trident TPI Holdings, Inc., 6.63%, 11/01/25⁽¹⁾		65,000		57,418
WR Grace Holdings LLC, 5.63%, 08/15/29⁽¹⁾		50,000		42,325
Total Materials				662,622
Real Estate – 1.9%
EPR Properties, 4.75%, 12/15/26		65,000		61,329
EPR Properties, 3.60%, 11/15/31		15,000		12,347
GLP Capital LP / GLP Financing II, Inc., 5.25%, 06/01/25		52,000		51,611
GLP Capital LP / GLP Financing II, Inc., 5.75%, 06/01/28		31,000		30,992
GLP Capital LP / GLP Financing II, Inc., 3.25%, 01/15/32		5,000		4,249
Iron Mountain, Inc., 5.25%, 07/15/30⁽¹⁾		10,000		9,372
Kite Realty Group Trust, 4.75%, 09/15/30		80,000		76,090
MPT Operating Partnership LP / MPT Finance Corp., 4.63%, 08/01/29		10,000		9,396
MPT Operating Partnership LP / MPT Finance Corp., 3.50%, 03/15/31		40,000		34,524
Office Properties Income Trust, 4.50%, 02/01/25		75,000		70,601
Phillips Edison Grocery Center Operating Partnership I LP, 2.63%, 11/15/31		125,000		99,494
Service Properties Trust, 4.95%, 02/15/27		25,000		20,651
Service Properties Trust, 4.38%, 02/15/30		55,000		40,389
VICI Properties LP, 4.95%, 02/15/30		60,000		58,844
VICI Properties LP, 5.13%, 05/15/32		25,000		24,876
VICI Properties LP / VICI Note Co., Inc., 4.63%, 06/15/25⁽¹⁾		10,000		9,719
Total Real Estate				614,484

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
CORPORATE BONDS (continued)
Utilities – 0.9%
Alliant Energy Finance LLC, 3.60%, 03/01/32⁽¹⁾	$	72,000	$	68,241
CMS Energy Corp., 4.75%, (US 5 Year CMT T- Note + 4.12%), 06/01/50⁽²⁾		95,000		89,192
Ferrellgas LP / Ferrellgas Finance Corp., 5.38%, 04/01/26⁽¹⁾		20,000		18,625
Ferrellgas LP / Ferrellgas Finance Corp., 5.88%, 04/01/29⁽¹⁾		5,000		4,394
Southern Co. (The), Series 21-A, 3.75%, (US 5 Year CMT T- Note + 2.92%), 09/15/51⁽²⁾		93,000		82,202
Vistra Corp., 8.00%, (US 5 Year CMT T- Note + 6.93%), perpetual^(1)(2)(3)		25,000		24,274
Total Utilities				286,928
Total Corporate Bonds
(Cost $11,118,986)				10,278,697

U.S. GOVERNMENT SECURITIES – 15.8%
U.S. Treasury Bond
1.88%, 11/15/51		115,000		88,532
U.S. Treasury Note
0.13%, 12/31/22		660,000		652,640
0.13%, 03/31/23		725,000		711,543
0.13%, 08/31/23		1,620,000		1,571,337
1.25%, 08/31/24		45,000		43,517
0.25%, 05/31/25		625,000		581,164
0.38%, 07/31/27		820,000		731,241
0.63%, 12/31/27		145,000		129,628
1.88%, 02/15/32		700,000		653,516
Total U.S. Government Securities
(Cost $5,230,400)				5,163,118
FOREIGN BONDS – 11.8%
Communication Services – 0.6%
Telesat Canada / Telesat LLC, 6.50%, 10/15/27 (Canada)⁽¹⁾		30,000		12,523
VZ Secured Financing BV, 5.00%, 01/15/32 (Netherlands)⁽¹⁾		200,000		178,661
Total Communication Services				191,184
Consumer Discretionary – 0.6%
Ashtead Capital, Inc., 4.38%, 08/15/27 (United Kingdom)⁽¹⁾		200,000		190,495

Consumer Staples – 0.7%
Anheuser-Busch InBev Worldwide, Inc., 4.75%, 01/23/29 (Belgium)		105,000		110,650
BAT Capital Corp., 4.91%, 04/02/30 (United Kingdom)		110,000		104,767
Central American Bottling Corp. / CBC Bottling Holdco SL / Beliv Holdco SL, 5.25%, 04/27/29 (Guatemala)⁽¹⁾		25,000		23,522
Total Consumer Staples				238,939
Energy – 2.3%
Aker BP ASA, 2.00%, 07/15/26 (Norway)⁽¹⁾		200,000		182,086

Security Description	Principal		Value
FOREIGN BONDS (continued)
Energy (continued)
BP Capital Markets PLC, 4.88%, (US 5 Year CMT T- Note + 4.40%), perpetual (United Kingdom)⁽²⁾⁽³⁾	$	75,000	$	68,418
Coronado Finance Pty Ltd., 10.75%, 05/15/26 (Australia)⁽¹⁾		71,000		74,041
Ecopetrol SA, 4.63%, 11/02/31 (Colombia)		55,000		45,237
Northriver Midstream Finance LP, 5.63%, 02/15/26 (Canada)⁽¹⁾		35,000		34,629
Petroleos Mexicanos, 4.63%, 09/21/23 (Mexico)		40,000		39,806
Petroleos Mexicanos, 6.50%, 03/13/27 (Mexico)		95,000		86,120
Petroleos Mexicanos, 5.95%, 01/28/31 (Mexico)		55,000		42,694
Petroleos Mexicanos, 6.35%, 02/12/48 (Mexico)		55,000		36,369
Petroleos Mexicanos, 7.69%, 01/23/50 (Mexico)		20,000		14,575
Teine Energy Ltd., 6.88%, 04/15/29 (Canada)⁽¹⁾		50,000		46,604
Transcanada Trust, 5.60%, (US 5 Year CMT T- Note + 3.99%), 03/07/82 (Canada)⁽²⁾		95,000		88,815
Total Energy				759,394
Financials – 0.5%
Ascot Group Ltd., 4.25%, 12/15/30 (Bermuda)⁽¹⁾		45,000		42,188
Banco Santander Chile, 3.18%, 10/26/31 (Chile)⁽¹⁾		150,000		128,325
Total Financials				170,513
Government – 4.7%
Angolan Government International Bond, 8.25%, 05/09/28 (Angola)⁽¹⁾		200,000		169,000
Argentine Republic Government International Bond, 3.50%, 07/09/41 (Argentina)⁽⁴⁾		125,000		33,062
Dominican Republic International Bond, 5.95%, 01/25/27 (Dominican Republic)⁽¹⁾		100,000		98,925
Ecuador Government International Bond, 2.50%, 07/31/35 (Ecuador)⁽¹⁾⁽⁴⁾		50,000		22,889
Egypt Government International Bond, 7.60%, 03/01/29 (Egypt)⁽¹⁾		200,000		139,500
Emirate of Dubai Government International Bonds, Series E, 5.25%, 01/30/43 (United Arab Emirates)		200,000		186,902
Guatemala Government Bond, 3.70%, 10/07/33 (Guatemala)⁽¹⁾		200,000		167,100
Ivory Coast Government International Bond, 6.13%, 06/15/33 (Ivory Coast)⁽¹⁾		200,000		163,600

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
FOREIGN BONDS (continued)
Government (continued)
Mexico Government International Bond, 4.50%, 01/31/50 (Mexico)	$	200,000	$	164,537
Republic of South Africa Government International Bond, 4.85%, 09/27/27 (South Africa)		200,000		194,412
Saudi Government International Bond, 3.63%, 03/04/28 (Saudi Arabia)⁽¹⁾		200,000		202,750
Total Government				1,542,677
Health Care – 0.7%
Cheplapharm Arzneimittel GMBH, 5.50%, 01/15/28 (Germany)⁽¹⁾		200,000		181,822
Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/01/26 (Israel)		35,000		31,726
Total Health Care				213,548
Industrials – 0.4%
Avolon Holdings Funding Ltd., 4.38%, 05/01/26 (Ireland)⁽¹⁾		77,000		71,937
Titan Acquisition Ltd. / Titan Co.-Borrower LLC, 7.75%, 04/15/26 (Canada)⁽¹⁾		75,000		67,317
Total Industrials				139,254
Materials – 0.7%
Eldorado Gold Corp., 6.25%, 09/01/29 (Turkey)⁽¹⁾		70,000		56,689
NOVA Chemicals Corp., 5.00%, 05/01/25 (Canada)⁽¹⁾		30,000		29,368
Suzano Austria GmbH, 2.50%, 09/15/28 (Brazil)		50,000		42,281
Taseko Mines Ltd., 7.00%, 02/15/26 (Canada)⁽¹⁾		70,000		56,060
Teck Resources Ltd., 6.13%, 10/01/35 (Canada)		50,000		53,438
Total Materials				237,836
Real Estate – 0.6%
Ontario Teachers’ Cadillac Fairview Properties Trust, 2.50%, 10/15/31 (Canada)⁽¹⁾		200,000		175,790

Total Foreign Bonds
(Cost $4,370,369)				3,859,630
TERM LOANS – 11.4%
Aerospace – 0.5%
Air Canada, 4.25%, (3-Month USD LIBOR + 3.50%), 08/11/28⁽²⁾		7,059		6,819
Amentum Government Services Holdings LLC, 4.50%, (SOFR + 4.00%), 02/10/29⁽²⁾		7,944		7,733
Amentum Government Services Holdings LLC, 5.60%, (SOFR + 4.00%), 02/10/29⁽²⁾		7,056		6,869
Brown Group Holding, LLC, 4.87%, (1-Month USD LIBOR + 2.50%), 06/07/28⁽²⁾		46,995		45,350

Security Description	Principal		Value
TERM LOANS (continued)
Aerospace (continued)
KKR Apple Bidco, LLC, 5.12%, (1-Month USD LIBOR + 3.00%), 07/14/28⁽²⁾	$	29,850	$	28,843
Mileage Plus Holdings LLC, 7.31%, (3-Month USD LIBOR + 5.25%), 06/21/27⁽²⁾		30,000		30,300
TransDigm, Inc., 4.62%, (1-Month USD LIBOR + 2.25%), 05/30/25⁽²⁾		14,810		14,429
TransDigm, Inc., 4.62%, (1-Month USD LIBOR + 2.25%), 12/09/25⁽²⁾		36,987		35,993
Total Aerospace				176,336
Chemicals – 0.3%
Aruba Investments Holdings LLC, 6.26%, (1-Month USD LIBOR + 4.00%), 11/24/27⁽²⁾		14,813		13,813
Diamond BC BV, 5.56%, (3-Month USD LIBOR + 2.75%), 09/15/28⁽²⁾		29,675		28,407
Diamond BC BV, 5.12%, (3-Month USD LIBOR + 3.00%), 09/15/28⁽²⁾		75		71
INEOS US Finance LLC, 4.59%, (3-Month USD LIBOR + 2.00%), 04/01/24⁽²⁾		69,327		67,743
Total Chemicals				110,034
Consumer Non-Durables – 0.4%
DS Parent, Inc., 8.00%, (3-Month USD LIBOR + 5.75%), 12/10/28⁽²⁾		24,375		23,308
Parfums Holding Co., Inc., 6.37%, (1-Month USD LIBOR + 4.00%), 06/30/24⁽²⁾		79,598		75,460
Zep Inc., 5.00%, (3-Month USD LIBOR + 4.00%), 08/12/24⁽²⁾		28,926		25,419
Total Consumer Non-Durables				124,187
Energy – 0.6%
CITGO Petroleum Corp., 8.62%, (1-Month USD LIBOR + 6.25%), 03/28/24⁽²⁾		35,280		35,081
Hamilton Projects Acquiror LLC, 6.75%, (3-Month USD LIBOR + 4.50%), 06/17/27⁽²⁾		24,150		23,415
Medallion Midland Acquisition LP, 6.12%, (1-Month USD LIBOR + 3.75%), 10/18/28⁽²⁾		29,696		28,929
Medallion Midland Acquisition LP, 0.00%, (1 Month USD LIBOR + 0.00%), 10/18/28⁽⁵⁾		15,000		14,612
Oryx Midstream Services Permian Basin, LLC, 4.71%, (3-Month USD LIBOR + 3.25%), 09/30/28⁽²⁾		44,775		43,708
Traverse Midstream Partners LLC, 5.25%, (SOFR + 4.25%), 09/27/24⁽²⁾		68,481		67,597
Total Energy				213,342
Financials – 0.2%
Asurion LLC, 5.62%, (1-Month USD LIBOR + 3.25%), 07/31/27⁽²⁾		24,600		23,210
Blackhawk Network Holdings, Inc., 5.05%, (SOFR + 3.00%), 06/15/25⁽²⁾		29,767		28,707
Total Financials				51,917

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
TERM LOANS (continued)
Food/Tobacco – 0.4%
Froneri US, Inc., 4.62%, (1-Month USD LIBOR + 2.25%), 01/29/27⁽²⁾	$	34,300	$	33,006
H-Food Holdings, LLC (aka Hearthside Food Solutions, LLC), 6.06%, (1-Month USD LIBOR + 3.69%), 05/23/25⁽²⁾		24,427		22,105
Pegasus Bidco BV, 6.12%, (SOFR + 4.25%), 05/04/29⁽²⁾		25,000		24,125
Shearer’s Foods LLC, 5.87%, (1-Month USD LIBOR + 3.50%), 09/23/27⁽²⁾		19,445		18,063
Triton Water Holdings, Inc., 5.75%, (3-Month USD LIBOR + 3.50%), 03/31/28⁽²⁾		29,663		26,427
Total Food/Tobacco				123,726

Forest Prod/Containers – 0.4%
Anchor Glass Container Corp., 5.10%, 12/07/23 ⁽²⁾		14,421		11,605
Anchor Glass Container Corp., 5.12%, (3-Month USD LIBOR + 2.75%), 12/07/23⁽²⁾		346		279
BWAY Holding Co., 5.04%, (1-Month USD LIBOR + 3.25%), 04/03/24⁽²⁾		54,596		52,315
Kloeckner Pentaplast of America, Inc., 5.55%, (6-Month USD LIBOR + 4.75%), 02/04/26⁽²⁾		24,538		21,869
TricorBraun Holdings, Inc., 5.62%, (1-Month USD LIBOR + 3.25%), 01/29/28⁽²⁾		34,712		32,992
Total Forest Prod/Containers				119,060

Gaming/Leisure – 1.2%
Caesars Resort Collection LLC, 5.12%, (1-Month USD LIBOR + 2.75%), 12/23/24⁽²⁾		74,249		72,777
Carnival Corp., 5.88%, (3-Month USD LIBOR + 3.00%), 06/30/25⁽²⁾		4,900		4,691
ECL Entertainment LLC, 9.75%, (3-Month USD LIBOR + 7.50%), 05/01/28⁽²⁾		24,900		24,868
Fertitta Entertainment LLC, 6.33%, (SOFR + 4.00%), 01/13/29⁽²⁾		19,950		19,080
J&J Ventures Gaming, LLC, 6.25%, (3-Month USD LIBOR + 4.00%), 04/26/28⁽²⁾		19,800		18,971
Playa Resorts Holding B.V., 5.12%, (1-Month USD LIBOR + 2.75%), 04/29/24⁽²⁾		86,096		83,042
Pug LLC, 5.87%, (1-Month USD LIBOR + 3.50%), 02/12/27⁽²⁾		43,997		40,881
Raptor Acquisition Corp., 6.10%, (3-Month USD LIBOR + 4.00%), 11/01/26⁽²⁾		10,000		9,725
Scientific Games Holdings LP, 5.62%, (SOFR + 3.50%), 02/04/29⁽²⁾		10,000		9,584
Scientific Games International, Inc., 0.00%, (SOFR + 0.00%), 04/07/29⁽⁵⁾		40,000		39,183
Scientific Games International, Inc., 5.04%, (SOFR + 3.00%), 04/07/29⁽²⁾		15,000		14,694
Stars Group Holdings BV, 4.50%, (3-Month USD LIBOR + 2.25%), 07/21/26⁽²⁾		18,513		18,192
UFC Holdings LLC, 5.52%, (3-Month USD LIBOR + 2.75%), 04/29/26⁽²⁾		39,538		38,360
Total Gaming/Leisure				394,048

Security Description	Principal		Value
TERM LOANS (continued)
Health Care – 2.1%
Agiliti Health, 0.00%, (3-Month USD LIBOR + 0.00%), 01/04/26⁽⁵⁾	$	30,000	$	29,250
Change Healthcare Holdings LLC, 4.87%, (1-Month USD LIBOR + 2.50%), 03/01/24⁽²⁾		50,000		49,500
CHG Healthcare Services, Inc., 4.75%, (3-Month USD LIBOR + 3.25%), 09/22/28⁽²⁾		39,899		38,820
Heartland Dental LLC, 6.26%, (1-Month USD LIBOR + 4.00%), 04/30/25⁽²⁾		34,650		32,924
Hunter US Bidco, Inc., 6.50%, (3-Month USD LIBOR + 4.25%), 08/19/28⁽²⁾		15,797		15,363
LifePoint Health, Inc., 6.12%, (1-Month USD LIBOR + 3.75%), 11/16/25⁽²⁾		55,000		52,093
Milano Acquisition Corp., 6.25%, (3-Month USD LIBOR + 4.00%), 10/01/27⁽²⁾		34,462		33,528
One Call Corp., 8.31%, (3-Month USD LIBOR + 5.50%), 04/22/27⁽²⁾		29,550		23,788
Packaging Coordinators Midco, Inc., 6.00%, (3-Month USD LIBOR + 3.75%), 11/30/27⁽²⁾		54,536		52,647
Perrigo Investments LLC, 0.00%, (SOFR + 0.00%), 04/05/29⁽⁵⁾		40,000		39,500
PetVet Care Centers LLC, 5.87%, (1-Month USD LIBOR + 3.50%), 02/14/25⁽²⁾		49,291		47,458
PetVet Care Centers LLC, 5.62%, (1-Month USD LIBOR + 3.25%), 02/14/25⁽²⁾		8,122		7,797
Phoenix Guarantor, Inc., 5.62%, (1-Month USD LIBOR + 3.25%), 03/05/26⁽²⁾		39,098		37,674
Phoenix Guarantor, Inc., 5.76%, (1-Month USD LIBOR + 3.50%), 03/05/26⁽²⁾		39,475		38,124
Phoenix Newco, Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 08/11/28⁽⁵⁾		30,000		29,302
Phoenix Newco, Inc., 4.92%, (1-Month USD LIBOR + 3.25%), 08/11/28⁽²⁾		9,975		9,743
R1 RCM Inc, 3.00%, (SOFR + 0.00%), 05/12/29⁽⁵⁾		40,000		39,600
Sunshine Luxembourg VII Sarl, 6.00%, (3-Month USD LIBOR + 3.75%), 10/01/26⁽²⁾		14,813		14,171
Surgery Center Holdings, Inc., 5.63%, (1-Month USD LIBOR + 3.75%), 08/31/26⁽²⁾		24,688		23,775
Upstream Newco, Inc., 6.69%, (SOFR + 4.25%), 11/20/26⁽²⁾		22,275		20,827
Viant Medical Holdings, Inc., 6.12%, (1-Month USD LIBOR + 3.75%), 07/02/25⁽²⁾		39,067		36,300
Total Health Care				672,184

Housing – 0.2%
Chariot Buyer LLC, 5.87%, (1-Month USD LIBOR + 3.50%), 10/22/28⁽²⁾		29,800		27,835
Quikrete Holdings, Inc., 5.37%, (1-Month USD LIBOR + 3.00%), 06/11/28⁽²⁾		29,925		28,545
SRS Distribution, Inc., 6.31%, (3-Month USD LIBOR + 3.75%), 06/02/28⁽²⁾		14,850		14,200

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
TERM LOANS (continued)
Housing (continued)
SRS Distribution, Inc., 6.18%, (SOFR + 3.50%), 06/02/28⁽²⁾	$	4,975	$	4,755
Total Housing				75,335

Information Technology – 1.8%
Applied Systems, Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 09/19/24⁽⁵⁾		25,000		24,600
Applied Systems, Inc., 7.75%, (3-Month USD LIBOR + 5.50%), 09/19/25⁽²⁾		29,460		28,829
Boxer Parent Co., Inc., 6.12%, (1-Month USD LIBOR + 3.75%), 10/02/25⁽²⁾		26,562		25,645
Boxer Parent Co., Inc., 7.87%, (1-Month USD LIBOR + 5.50%), 03/23/26⁽²⁾		10,000		9,392
Central Parent, Inc., 6.61%, (SOFR + 4.50%), 06/09/29⁽²⁾		20,000		19,480
ConnectWise LLC, 5.75%, (3-Month USD LIBOR + 3.50%), 09/24/28⁽²⁾		39,800		38,168
Epicor Software Corp., 5.62%, (1-Month USD LIBOR + 3.25%), 07/30/27⁽²⁾		49,248		47,084
Greeneden US Holdings II LLC, 6.37%, (1-Month USD LIBOR + 4.00%), 12/01/27⁽²⁾		14,775		14,457
Hyland Software, Inc., 5.87%, (1-Month USD LIBOR + 3.50%), 07/01/24⁽²⁾		74,193		72,987
Infinite Bidco LLC, 5.50%, (3-Month USD LIBOR + 3.75%), 03/02/28⁽²⁾		19,725		18,492
Magenta Buyer LLC, 7.05%, (1-Month USD LIBOR + 4.75%), 04/29/28⁽²⁾		34,812		33,190
Project Ruby Ultimate Parent Corp., 5.62%, (1-Month USD LIBOR + 3.25%), 03/10/28⁽²⁾		29,625		28,388
Proofpoint, Inc., 4.82%, (3-Month USD LIBOR + 3.25%), 06/09/28⁽²⁾		29,850		28,743
Quest Software, Inc., 5.47%, (SOFR + 4.25%), 01/20/29⁽²⁾		25,000		22,281
RealPage, Inc., 4.67%, (1-Month USD LIBOR + 3.00%), 04/24/28⁽²⁾		39,675		38,264
Sophia LP, 5.50%, (3-Month USD LIBOR + 3.25%), 10/07/27⁽²⁾		24,626		23,795
Sophia LP, 6.33%, (SOFR + 4.00%), 10/07/27⁽²⁾		15,000		14,588
Uber Technologies Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 02/25/27⁽⁵⁾		50,000		49,203
UKG, Inc., 0.00%, (3-Month USD LIBOR + 0.00%), 05/04/26⁽⁵⁾		30,000		29,161
UKG, Inc., 5.54%, (3-Month USD LIBOR + 3.25%), 05/04/26⁽²⁾		38,354		37,281
Total Information Technology				604,028

Manufacturing – 0.6%
Alliance Laundry Systems LLC, 5.96%, (3-Month USD LIBOR + 3.50%), 10/08/27⁽²⁾		43,982		42,806
Arcline FM Holdings LLC, 7.63%, (3-Month USD LIBOR + 4.75%), 06/23/28⁽²⁾		29,775		28,658
Arcline FM Holdings LLC, 11.13%, (3-Month USD LIBOR + 8.25%), 06/15/29⁽²⁾		15,000		14,325
Filtration Group Corp., 5.37%, (1-Month USD LIBOR + 3.00%), 03/31/25⁽²⁾		44,597		43,750

Security Description	Principal		Value
TERM LOANS (continued)
Manufacturing (continued)
Filtration Group Corp., 5.87%, (1-Month USD LIBOR + 3.50%), 10/19/28⁽²⁾	$	19,800	$	19,112
Safe Fleet Holdings LLC, 6.00%, (SOFR + 3.75%), 02/17/29⁽²⁾		24,938		23,753
Star US Bidco LLC, 6.62%, (1-Month USD LIBOR + 4.25%), 03/17/27⁽²⁾		24,429		22,770
Total Manufacturing				195,174

Media/Telecom - Cable/Wireless Video – 0.1%
Directv Financing LLC, 7.37%, (1-Month USD LIBOR + 5.00%), 08/02/27⁽²⁾		37,837		35,860

Media/Telecom - Diversified Media – 0.3%
Cinemark USA, Inc., 4.13%, (3-Month USD LIBOR + 1.75%), 03/31/25⁽²⁾		23,354		22,309
Cinemark USA, Inc., 4.01%, (3-Month USD LIBOR + 1.75%), 03/31/25 ⁽²⁾		371		354
McGraw-Hill Education, Inc., 5.55%, (3-Month USD LIBOR + 4.75%), 07/28/28⁽²⁾		23,820		22,659
William Morris Endeavor Entertainment LLC, 5.13%, (1-Month USD LIBOR + 2.75%), 05/19/25⁽²⁾		44,517		42,838
Total Media/Telecom - Diversified Media				88,160

Media/Telecom - Telecommunications – 0.1%
Altice France SA/France, 6.20%, (3-Month USD LIBOR + 3.69%), 01/31/26⁽²⁾		29,233		27,671
Consolidated Communications, Inc., 5.88%, (1-Month USD LIBOR + 3.50%), 10/02/27⁽²⁾		10,710		9,353
Total Media/Telecom - Telecommunications				37,024

Metals/Minerals – 0.2%
Covia Holdings LLC, 6.29%, (3-Month USD LIBOR + 4.00%), 07/31/26⁽²⁾		35,000		33,035
Peabody Energy Corp., 5.05%, (1-Month USD LIBOR + 2.75%), 03/31/25⁽²⁾		24,922		23,205
Total Metals/Minerals				56,240

Retail – 0.4%
CNT Holdings I Corp., 5.37%, (1-Month USD LIBOR + 3.50%), 11/08/27⁽²⁾		29,625		28,794
Great Outdoors Group LLC, 6.12%, (1-Month USD LIBOR + 3.75%), 03/06/28⁽²⁾		29,514		27,089
Harbor Freight Tools USA, Inc., 5.12%, (1-Month USD LIBOR + 2.75%), 10/19/27⁽²⁾		29,424		27,360
PetSmart, Inc., 6.12%, (1-Month USD LIBOR + 3.75%), 02/11/28⁽²⁾		24,737		23,907
Rising Tide Holdings, Inc., 7.12%, (1-Month USD LIBOR + 4.75%), 06/01/28⁽²⁾		14,850		13,043
Total Retail				120,193

Service – 1.1%
Apex Group Treasury LLC, 6.00%, (3-Month USD LIBOR + 3.75%), 07/27/28⁽²⁾		29,750		28,969

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal			Value
TERM LOANS (continued)
Service (continued)
Brightview Landscapes LLC, 0.00%, (SOFR + 0.00%), 04/07/29⁽⁵⁾	$	40,000		$	39,100
Carlisle FoodService Products, Inc., 5.37%, (1-Month USD LIBOR + 3.00%), 03/20/25⁽²⁾		29,716			26,002
Dun & Bradstreet Corp. (The), 5.55%, (1-Month USD LIBOR + 3.25%), 02/06/26⁽²⁾		39,041			38,098
Dun & Bradstreet Corp. (The), 4.75%, (SOFR + 3.25%), 01/05/29⁽²⁾		4,988			4,843
DXP Enterprises, Inc., 7.12%, (1-Month USD LIBOR + 4.75%), 12/23/27⁽²⁾		14,775			14,165
Garda World Security Corp., 6.47%, (1-Month USD LIBOR + 4.25%), 10/30/26⁽²⁾		10,000			9,487
Grab Holdings, Inc., 6.88%, (1-Month USD LIBOR + 4.50%), 01/29/26⁽²⁾		34,563			31,317
NAB Holdings LLC, 5.20%, (SOFR + 3.00%), 11/17/28⁽²⁾		24,825			23,734
Peraton Corp., 6.12%, (1-Month USD LIBOR + 3.75%), 02/01/28⁽²⁾		45,682			44,511
PODS LLC, 5.37%, (1-Month USD LIBOR + 3.00%), 03/31/28⁽²⁾		29,402			28,269
Sedgwick Claims Management Services, Inc., 6.12%, (1-Month USD LIBOR + 3.75%), 09/03/26⁽²⁾		24,178			23,570
University Support Services LLC, 5.62%, (1-Month USD LIBOR + 3.25%), 06/29/28⁽²⁾		27,108			26,405
Weld North Education LLC, 6.13%, (1-Month USD LIBOR + 3.75%), 12/21/27⁽²⁾		35,768			34,807
Total Service					373,277

Transportation - Automotive – 0.3%			��
Cooper-Standard Automotive, Inc., 4.37%, (1-Month USD LIBOR + 2.00%), 11/02/23⁽²⁾		48,804			45,692
Mavis Tire Express Services TopCo LP, 6.25%, (1-Month USD LIBOR + 4.00%), 05/04/28⁽²⁾		27,281			26,195
PAI Holdco, Inc., 4.99%, (3-Month USD LIBOR + 3.50%), 10/28/27⁽²⁾		29,812			28,321
Total Transportation - Automotive					100,208

Utilities – 0.2%
Brookfield WEC Holdings, Inc., 5.12%, (1-Month USD LIBOR + 2.75%), 08/01/25⁽²⁾		38,370			37,136
Brookfield WEC Holdings, Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 08/01/25⁽⁵⁾		30,000			29,035
Total Utilities					66,171
Total Term Loans
(Cost $3,856,633)					3,736,504

MORTGAGE BACKED SECURITIES - 6.9%
Commercial Mortgage Backed Securities - 0.7%
BX Trust, Class D, Series 2019-OC11, 4.08%, 12/09/41^(1)(2)(6)		35,000			31,306

Security Description	Principal		Value
MORTGAGE BACKED SECURITIES (continued)
Commercial Mortgage Backed Securities (continued)
CF Hippolyta LLC, Class A1, Series 2020-1, 1.69%, 07/15/60⁽¹⁾	$	92,050	$	84,638
Morgan Stanley Bank of America Merrill Lynch Trust, Class AS, Series 2015-C22, 3.56%, 04/15/48		60,000		58,108
Sutherland Commercial Mortgage Loans, Class A, Series 2017-SBC6, 3.19%, 05/25/37^(1)(2)(6)		4,302		4,293
WFRBS Commercial Mortgage Trust, Class AS, Series 2014-C24, 3.93%, 11/15/47		50,000		48,973
Total Commercial Mortgage Backed Securities				227,318
Mortgage Backed Security - 0.2%
COMM Mortgage Trust, Class B, Series 2020-CBM, 3.10%, 02/10/37⁽¹⁾		45,000		42,243
Federal National Mortgage Association, 3.50%, 05/01/49		29,948		29,937
Total Mortgage Backed Security				72,180
Residential Mortgage Backed Securities - 6.0%
Ajax Mortgage Loan Trust, Class A1, Series 2019-D, 2.96%, 09/25/65⁽¹⁾⁽⁴⁾		63,539		60,015
AMSR Trust, Class D, Series 2021-SFR3, 2.18%, 10/17/38⁽¹⁾		100,000		88,732
Arroyo Mortgage Trust, Class A1, Series 2019-2, 3.35%, 04/25/49^(1)(2)(6)		24,825		24,146
Bayview Opportunity Master Fund IVa Trust, Class B1, Series 2017-SPL5, 4.00%, 06/28/57^(1)(2)(6)		100,000		98,001
CAFL Issuer LLC, Class A1, Series 2021-RTL1, 2.24%, 03/28/29⁽¹⁾⁽⁴⁾		100,000		92,646
Cascade MH Asset Trust, Class A1, Series 2021-MH1, 1.75%, 02/25/46⁽¹⁾		86,494		78,580
CIM Trust, Class A1, Series 2022-R2, 3.75%, 12/25/61^(1)(2)(6)		96,343		93,724
COLT Mortgage Pass-Through Certificates, Class A1, Series 2021-1R, 0.86%, 05/25/65^(1)(2)(6)		30,308		28,168
CSMC, Class A1, Series 2021-NQM1, 0.81%, 05/25/65^(1)(2)(6)		42,334		40,685
Mill City Mortgage Loan Trust, Class B1, Series 2017-3, 3.25%, 01/25/61^(1)(2)(6)		98,728		92,157
New Residential Mortgage Loan Trust, Class A1, Series 2016-1A, 3.75%, 03/25/56^(1)(2)(6)		47,377		46,073
New Residential Mortgage Loan Trust, Class M2, Series 2019-RPL2, 3.75%, 02/25/59^(1)(2)(6)		100,000		93,142
OBX Trust, Class A1, Series 2021-NQM3, 1.05%, 07/25/61^(1)(2)(6)		46,668		40,324
RCKT Mortgage Trust, Class A1, Series 2020-1, 3.00%, 02/25/50^(1)(2)(6)		23,669		21,462

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
MORTGAGE BACKED SECURITIES (continued)
Residential Mortgage Backed Securities (continued)
Sequoia Mortgage Trust, Class B1, Series 2013-8, 3.49%, 06/25/43⁽²⁾⁽⁶⁾	$	74,723	$	73,331
SG Residential Mortgage Trust, Class A1, Series 2019-3, 2.70%, 09/25/59^(1)(2)(6)		6,353		6,216
Starwood Mortgage Residential Trust, Class A1, Series 2020-1, 2.28%, 02/25/50⁽¹⁾		64,739		64,492
Towd Point Mortgage Trust, Class A2, Series 2017-1, 3.50%, 10/25/56^(1)(2)(6)		100,000		98,326
Towd Point Mortgage Trust, Class A2, Series 2017-4, 3.00%, 06/25/57^(1)(2)(6)		125,000		118,881
Towd Point Mortgage Trust, Class A2, Series 2018-6, 3.75%, 03/25/58^(1)(2)(6)		100,000		96,663
Towd Point Mortgage Trust, Class A1, Series 2018-4, 3.00%, 06/25/58^(1)(2)(6)		45,094		43,307
Towd Point Mortgage Trust, Class M1, Series 2020-1, 3.50%, 01/25/60^(1)(2)(6)		100,000		90,293
Towd Point Mortgage Trust, Class A2, Series 2021-1, 2.75%, 11/25/61^(1)(2)(6)		100,000		87,023
Verus Securitization Trust, Class A1, Series 2022-4, 4.47%, 04/25/67⁽¹⁾⁽⁴⁾		94,211		92,586
Verus Securitization Trust, Class A1, Series 2022-5, 3.80%, 04/25/67⁽¹⁾⁽⁴⁾		103,139		99,777
Verus Securitization Trust, Class A1, Series 2022-7, 5.15%, 07/25/67⁽¹⁾⁽⁴⁾		100,000		100,241
VOLT XCIV LLC, Class A1, Series 2021-NPL3, 2.24%, 02/27/51⁽¹⁾⁽⁴⁾		104,494		100,072
Total Residential Mortgage Backed Securities				1,969,063
Total Mortgage Backed Securities
(Cost $2,397,499)				2,268,561

ASSET BACKED SECURITIES – 6.7%
American Credit Acceptance Receivables Trust, Class D, Series 2020-4, 1.77%, 12/14/26⁽¹⁾		45,000		43,204
Arbys Funding LLC, Class A2, Series 2020-1A, 3.24%, 07/30/50⁽¹⁾		68,775		62,493
Avant Credit Card Master Trust, Class A, Series 2021-1A, 1.37%, 04/15/27⁽¹⁾		50,000		45,990
BHG Securitization Trust, Class B, Series 2021-B, 1.67%, 10/17/34⁽¹⁾		100,000		89,530
Business Jet Securities LLC, Class A, Series 2020-1A, 2.98%, 11/15/35⁽¹⁾		11,553		10,753
Carvana Auto Receivables Trust, Class D, Series 2019-2A, 3.28%, 01/15/25⁽¹⁾		55,000		54,741
Carvana Auto Receivables Trust, Class D, Series 2019-3A, 3.04%, 04/15/25⁽¹⁾		55,000		54,560
Carvana Auto Receivables Trust, Class E, Series 2019-3A, 4.60%, 07/15/26⁽¹⁾		55,000		54,630
CCG Receivables Trust, Class B, Series 2019-2, 2.55%, 03/15/27⁽¹⁾		100,000		98,940
Conn Funding II LP, Class B, Series 2022-A, 9.52%, 12/15/26⁽¹⁾		65,000		64,161
CPS Auto Receivables Trust, Class E, Series 2019-D, 3.86%, 10/15/25⁽¹⁾		55,000		53,928
Encina Equipment Finance LLC, Class B, Series 2022-1A, 5.15%, 01/16/29⁽¹⁾		100,000		100,607
Exeter Automobile Receivables Trust, Class E, Series 2019-2A, 4.68%, 05/15/26⁽¹⁾		55,000		55,105

Security Description	Principal		Value
ASSET BACKED SECURITIES (continued)
FAT Brands Royalty LLC, Class A2, Series 2021-1A, 4.75%, 04/25/51⁽¹⁾	$	50,000	$	48,414
Flagship Credit Auto Trust, Class C, Series 2019-2, 3.09%, 05/15/25⁽¹⁾		106,947		106,452
GLS Auto Receivables Issuer Trust, Class D, Series 2022-2A, 6.15%, 04/17/28⁽¹⁾		65,000		65,253
Hardee’s Funding LLC, Class A2, Series 2020-1A, 3.98%, 12/20/50⁽¹⁾		93,575		86,809
Hotwire Funding LLC, Class C, Series 2021-1, 4.46%, 11/20/51⁽¹⁾		65,000		55,772
Jack in the Box Funding LLC, Class A2I, Series 2022-1A, 3.45%, 02/26/52⁽¹⁾		54,725		50,946
LAD Auto Receivables Trust, Class D, Series 2021-1A, 3.99%, 11/15/29⁽¹⁾		55,000		51,500
Lendbuzz Securitization Trust, Class A, Series 2022-1A, 4.22%, 05/17/27⁽¹⁾		91,122		89,819
MAPS Trust, Class A, Series 2021-1A, 2.52%, 06/15/46⁽¹⁾		45,835		40,331
Mercury Financial Credit Card Master Trust, Class A, Series 2021-1A, 1.54%, 03/20/26⁽¹⁾		75,000		71,203
MVW Owner Trust, Class A, Series 2019-1A, 2.89%, 11/20/36⁽¹⁾		29,551		28,656
NMEF Funding LLC, Class B, Series 2021-A, 1.85%, 12/15/27⁽¹⁾		65,000		61,632
OneMain Direct Auto Receivables Trust, Class C, Series 2022-1A, 5.31%, 06/14/29⁽¹⁾		55,000		55,240
Oportun Funding LLC, Class A, Series 2022-1, 3.25%, 06/15/29⁽¹⁾		57,801		56,928
Pawneee Equipment Receivables Series LLC, Class B, Series 2022-1, 5.40%, 07/17/28⁽¹⁾		65,000		65,387
Taco Bell Funding LLC, Class A23, Series 2016-1A, 4.97%, 05/25/46⁽¹⁾		73,150		73,535
TRP LLC, Class A, Series 2021-1, 2.07%, 06/19/51⁽¹⁾		68,778		61,801
Upstart Pass-Through Trust, Class A, Series 2021-ST8, 1.75%, 10/20/29⁽¹⁾		71,514		67,520
Upstart Securitization Trust, Class A, Series 2022-2, 4.37%, 05/20/32⁽¹⁾		77,776		76,809
Upstart Securitization Trust, Class B, Series 2021-2, 1.75%, 06/20/31⁽¹⁾		60,000		56,474
Veros Automobile Receivables Trust, Class B, Series 2020-1, 2.19%, 06/16/25⁽¹⁾		20,413		20,334
Veros Automobile Receivables Trust, Class B, Series 2022-1, 4.39%, 08/16/27⁽¹⁾		75,000		73,566
Westlake Automobile Receivables Trust, Class C, Series 2020-3A, 1.24%, 11/17/25⁽¹⁾		45,000		43,952

Total Asset Backed Securities
(Cost $2,275,100)				2,196,975

MUNICIPAL BONDS – 0.3%
Broward County Fl Water & Sewer Utility Revenue, 4.00%, 10/01/47		40,000		40,601
Metropolitan Transportation Authority, 5.00%, 11/15/45		60,000		68,210
Sales Tax Securitization Corp., 3.41%, 01/01/43		5,000		4,219

Total Municipal Bonds
(Cost $119,134)				113,030

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2022 (unaudited)

Security Description	Principal		Value
MONEY MARKET FUND - 19.8%
JP Morgan U.S. Government Money Market Institutional Shares, 1.73%⁽⁷⁾ (Cost $6,469,569)		6,469,569	$	6,469,569

TOTAL INVESTMENTS - 104.1%
(Cost $35,837,690)				34,086,084
Liabilities in Excess of Other Assets - (4.1)%				(1,352,268	)
Net Assets - 100.0%			$	32,733,816

(1)	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At July 31, 2022, the aggregate value of these securities was $11,249,527, or 34.4% of net assets.
(2)	Variable rate instrument. The interest rate shown reflects the rate in effect at July 31, 2022.
(3)	Perpetual security with no stated maturity date.
(4)	Represents step coupon bond. Rate shown reflects the rate in effect as of July 31, 2022.

(5)	The loan will settle after July 31, 2022. The interest rate, based on the LIBOR and the agreed upon spread on trade date, will be determined at the time of settlement.
(6)	Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.
(7)	The rate shown reflects the seven-day yield as of July 31, 2022.

Abbreviations:

CMT — Constant Maturity Treasury Index

LIBOR — London InterBank Offered Rate

SOFR — Secured Overnight Financing Rate


Currency Abbreviations

USD	United States Dollar

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
Corporate Bonds	$	—	$	10,278,697	$	—	$	10,278,697
U.S. Government Securities		—		5,163,118		—		5,163,118
Foreign Bonds		—		3,859,630		—		3,859,630
Term Loans		—		3,736,504		—		3,736,504
Mortgage Backed Securities		—		2,268,561		—		2,268,561
Asset Backed Securities		—		2,196,975		—		2,196,975
Municipal Bonds		—		113,030		—		113,030
Money Market Fund		6,469,569		—		—		6,469,569
Total	$	6,469,569	$	27,616,515	$	—	$	34,086,084

ETFIS Series Trust I (PFFR) NPORT-PVirtus Newfleet Multi-Sector Bond ETF (Jul 2022 report)