ETFIS Series Trust I (PFFR) NPORT-P Virtus Real Asset Income ETF (Jan 2023 report)

Schedule of Investments - Virtus Real Asset Income ETF

January 31, 2023 (unaudited)

Security Description	Shares		Value
COMMON STOCKS - 97.3%
Communication Services - 6.6%
BCE, Inc. (Canada)		9,013	$	426,315
Cogent Communications Holdings, Inc.		7,056		483,830
KT Corp. (South Korea)(1)		28,332		405,431
Lumen Technologies, Inc.		74,894		393,193
Mobile TeleSystems PJSC (Russia)(2)		387,202		6
TELUS Corp. (Canada)		20,129		433,780
Vodafone Group PLC (United Kingdom)(1)		39,069		452,419
Total Communication Services				2,594,974
Consumer Staples - 2.2%
Alico, Inc.		16,512		437,568
Fresh Del Monte Produce, Inc.		15,058		430,659
Total Consumer Staples				868,227
Energy - 21.0%
Cheniere Energy Partners LP(3)		6,758		368,784
ConocoPhillips		3,414		416,064
Coterra Energy, Inc.		15,833		396,300
Crescent Point Energy Corp. (Canada)		57,361		427,913
Delek Logistics Partners LP(3)		8,573		433,708
Devon Energy Corp.		6,428		406,507
Diamondback Energy, Inc.		2,898		423,456
Dorchester Minerals LP		13,562		395,875
Enbridge, Inc. (Canada)		10,103		413,920
EOG Resources, Inc.		3,054		403,892
Geopark Ltd. (Colombia)		29,468		448,208
Hess Midstream LP Class A(3)		13,598		419,906
Kimbell Royalty Partners LP		23,783		387,425
Natural Resource Partners LP		8,454		458,122
Permian Basin Royalty Trust		17,007		400,345
Petroleo Brasileiro SA (Brazil)(1)		38,537		447,029
Pioneer Natural Resources Co.		1,760		405,416
Sabine Royalty Trust		4,785		409,835
TC Energy Corp. (Canada)		9,823		423,764
Viper Energy Partners LP		12,517		397,415
Total Energy				8,283,884
Materials - 20.2%
Agnico Eagle Mines Ltd. (Canada)		7,590		428,683
AngloGold Ashanti Ltd. (Australia)(1)		20,262		425,907
B2Gold Corp. (Canada)		111,187		441,412
Barrick Gold Corp. (Canada)		22,682		443,433
Braskem SA Class A (Brazil)(1)		43,476		401,284
CVR Partners LP		3,828		379,470
Dow, Inc.		7,834		464,948
DRDGOLD Ltd. (South Africa)(1)		55,284		445,589
Gerdau SA (Brazil)(1)		67,278		437,307
Gold Fields Ltd. (South Africa)(1)		37,202		425,591
ICL Group Ltd. (Israel)		52,091		415,165
Newmont Corp.		8,388		443,977
Pan American Silver Corp. (Canada)(3)		23,585		429,955
Southern Copper Corp. (Mexico)(3)		6,442		484,503
SunCoke Energy, Inc.		46,210		420,973
Ternium SA (Mexico)(1)		12,980		523,743
Tronox Holdings PLC		29,600		507,640
Yamana Gold, Inc. (Canada)		70,379		424,385
Total Materials				7,943,965
Real Estate - 32.9%
Agree Realty Corp.		5,588		417,032
Alexander & Baldwin, Inc.		20,848		417,377
Alexandria Real Estate Equities, Inc.		2,702		434,319
American Assets Trust, Inc.		15,042		428,095
American Tower Corp.		1,884		420,867
Camden Property Trust		3,592		442,570
CareTrust REIT, Inc.		20,914		433,338
Crown Castle, Inc.		2,951		437,073
CTO Realty Growth, Inc.		22,163		435,281
CubeSmart(3)		9,904		453,504
Digital Realty Trust, Inc.		3,952		452,978
EastGroup Properties, Inc.		2,670		449,227
Equity LifeStyle Properties, Inc.		6,160		442,165
Essential Properties Realty Trust, Inc.		17,043		434,256
Essex Property Trust, Inc.		1,901		429,759
Extra Space Storage, Inc.		2,700		426,141
First Industrial Realty Trust, Inc.		8,175		436,136
Four Corners Property Trust, Inc.		14,900		428,524
Getty Realty Corp.		11,442		416,832
Healthcare Realty Trust, Inc.		21,261		457,749
Innovative Industrial Properties, Inc.		3,786		339,907
Invitation Homes, Inc.		13,333		433,323
Life Storage, Inc.		3,967		428,595
Medical Properties Trust, Inc.(3)		36,925		478,179
Mid-America Apartment Communities, Inc.		2,545		424,302
National Storage Affiliates Trust		10,926		445,781
STORE Capital Corp.		12,408		399,662
Sun Communities, Inc.		2,807		440,306
Terreno Realty Corp.		6,978		449,593
VICI Properties, Inc.		12,109		413,886
Total Real Estate				12,946,757
Utilities - 14.4%
Alliant Energy Corp.		7,207		389,394
American Electric Power Co., Inc.		4,164		391,249
Black Hills Corp.		5,697		412,349
Cia Energetica de Minas Gerais (Brazil)(1)		190,836		427,473
Cia Paranaense de Energia (Brazil)(1)		55,986		419,335
CMS Energy Corp.		6,335		400,309
Eversource Energy		4,727		389,174
Fortis, Inc. (Canada)		9,828		404,422
National Grid PLC (United Kingdom)(1)		6,538		416,928
New Jersey Resources Corp.		8,059		402,305
NextEra Energy Partners LP		5,418		397,139
NiSource, Inc.		14,408		399,822
NRG Energy, Inc.		12,243		418,956
Portland General Electric Co.		8,113		386,017
Total Utilities				5,654,872
Total Common Stocks
(Cost $40,173,797)				38,292,679
SECURITIES LENDING COLLATERAL - 3.8%
Money Market Fund - 3.8%
Dreyfus Government Cash Management Fund, Institutional Shares, 4.23%(4)(5)
(Cost $1,514,517)		1,514,517		1,514,517
TOTAL INVESTMENTS - 101.1%
(Cost $41,688,314)				39,807,196
Liabilities in Excess of Other Assets - (1.1)%				(446,316	)
Net Assets - 100.0%			$	39,360,880

(1)	American Depositary Receipts.
(2)	Security valued at fair value as determined in good faith by or under the direction of the Trustees. This security is disclosed as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments.
(3)	All or a portion of the security was on loan. The aggregate market value of securities on loan was $2,454,067; total market value of collateral held by the Fund was $2,467,083. Market value of the collateral held includes non-cash U.S. Treasury securities having a value of $952,566.
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	The rate shown reflects the seven-day yield as of January 31, 2023.

Schedule of Investments - Virtus Real Asset Income ETF (continued)

January 31, 2023 (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 January 31, 2023.

	Level 1		Level 2		Level 3		Total
Asset Valuation Inputs
Common Stocks	$	38,292,673	$	—	$	6	$	38,292,679
Money Market Fund		1,514,517		—		—		1,514,517
Total	$	39,807,190	$	—	$	6	$	39,807,196

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the rollforward of Level 3 securities and assumptions are not shown for the period ended January 31, 2023.