Transamerica ETF Trust N-CSR Certified annual shareholder report (management investment company)

As filed with the Securities and Exchange Commission on March 6, 2019

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORMN-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:811-23237

TRANSAMERICA ETF TRUST

(Exact Name of Registrant as Specified in Charter)

1801 California St., Suite 5200, Denver, CO 80202

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, including Area Code: (720)493-4256

Rhonda A. Mills, Esq., 1801 California St., Suite 5200, Denver, CO 80202

(Name and Address of Agent for Service)

Date of fiscal year end: December 31

Date of reporting period: December 31, 2018

Item 1: Report(s) to Shareholders.

The Annual Report is attached.

TRANSAMERICA ETF TRUST

ANNUAL REPORT

DECEMBER 31, 2018

Effective on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, the funds intend to no longer mail paper copies of the funds’ shareholder reports unless you specifically request paper copies of the reports from your financial intermediary (such as a broker-dealer or bank). Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically (“e-delivery”), you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically anytime by contacting your financial intermediary.

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all Transamerica funds held in your account.

Customer Service:1-888-316-8077

1801 California St., Suite 5200 Denver, CO 80202

Distributor: Foreside Fund Services, LLC

www.deltashares.com

Table of Contents

Shareholder Letter	1
Disclosure of Expenses	2
Manager Commentary and Schedules of Investments
DeltaShares® S&P 400 Managed Risk ETF	3
DeltaShares® S&P 500 Managed Risk ETF	11
DeltaShares® S&P 600 Managed Risk ETF	20
DeltaShares® S&P International Managed Risk ETF	30
Statements of Assets and Liabilities	45
Statements of Operations	46
Statements of Changes in Net Assets	47
Financial Highlights	49
Notes to Financial Statements	51
Report of Independent Registered Public Accounting Firm	63
Supplemental Information	64
Management of the Trust	65
Proxy Voting Policies and Procedures and Quarterly Portfolio Holdings	69
Notice of Privacy Policy	70

Authorized for distribution only when accompanied or preceded by a prospectus. Investors should carefully consider a fund’s investment goals, risks, charges and expenses before investing. A prospectus contains this and other information; please read it carefully before investing.

Transamerica ETF Trust Annual Report 2018

Dear Shareholder,

On behalf of the DeltaShares by Transamerica, we would like to thank you for your support and confidence in our products as we look forward to continuing to serve you and your financial professional in the future. We value the trust you have placed in us.

This annual report is provided to you to show the investments and performance of your Exchange Traded Fund(s) (“ETFs”) during the fiscal year. The Securities and Exchange Commission requires that annual and semi-annual reports be sent to all shareholders, and we believe it to be an important part of the investment process. This report provides detailed information about your ETFs for the12-month period ended December 31, 2018.

We believe it is important to understand market conditions over the Fund’s fiscal year ended December 31, 2018, to provide a context for reading this report. As the year began, there was continued optimism in the equity and credit markets following the low volatility environment of 2017 and the anticipation of strong corporate earnings for the upcoming year. As a result, the month of January was strong for equities, and the S&P 500^®reached record highs. In early February, higher than expected wage growth in the January employment report incited inflationary fears and stocks experienced a sharp selloff. In the following weeks, concerns of international trade disputes and potentially U.S. imposed tariffs on overseas trading partners created more downside volatility. By late March stocks were in correction mode as the S&P 500^® had fallen by 10%.Long term interest rates also jumped considerably as the10-year Treasury yield increased to 3.11% inmid-May, which was 0.65 percentage points higher than the year’s onset.

By the summer months stocks had resumed an upward trend as economic and earnings results were quite favorable. In the second quarter—gross domestic product (“GDP”) growth posted its strongest quarter in almost four years at 4.2%, and S&P 500^® underlying earnings growth came in above 20% on a year-over-year basis. While the U.S. Federal Reserve (“Fed”) hiked rates in both March and June, and international trade tensions between the U.S. and China continued to escalate, U.S. equities still moved higher into the fall as both the economy and corporate profitability displayed strength. However, during this time international markets failed to establish the same upward trend as growth in Europe and Japan fell belowbeginning-of-the-year expectations. When combined with the perceived risks of international trade frictions, political uncertainties and a rising U.S. dollar, overseas markets for the most part experienced steady declines for the rest of the year.

By early October, the Dow Jones Industrial Average (“Dow”) and S&P 500^® had again experienced record highs. However, a host of investor concerns quickly rattled the markets, and stocks once again faced double digit declines in the fourth quarter. In the weeks following the Fed’s September meeting, in which the Fed once again raised rates, comments by Chairman Jay Powell were interpreted negatively by the market and fears quickly emerged that the Fed was at risk of making a policy error as defined by raising rates into a slowing economy. This created more volatility in the markets, and as U.S. – China trade talks failed to assure the markets that progress was being made, more selling ensued.

The month of December was a brutal one for both equity and credit markets. In addition to weakness in stocks, credit spreads widened materially, as evidenced by the differential of high yield bonds to comparable Treasuries, which rose from 3.2% to 5.3% by year end. Amid this downside volatility, longer-term Treasury rates declined in a flight to quality. As the10-year Treasury rate fell back to 2.69% to close out the year, the yield curve, as defined by10-year versus2-year yield differentials, narrowed close to an inversion at just 0.21%. Traditionally viewed as a harbinger to a recession or economic slowdown, this stoked more fears in the market. Following another rate hike by the Fed at its December meeting and Chairman Powell’s negatively interpreted commentary that followed, equity selling reached its peak the final week of December. At that point the S&P 500^® and Dow had declined 20% from their record September and October levels. International equities also continued to decline in the fourth quarter.

The year concluded with forecasts of economic and corporate earnings growth for 2019 being noticeably below that of the past year, however we feel it is important to recognize that both are still expected to be positive in the year ahead. As the new year begins, investors await resolution on a number of potentially market impacting developments such as U.S. – China trade relations, the timing of any future interest rate hikes, growth in the global economy, trends in the credit markets and the rate of corporate earnings growth.

For the12-month period ended December 31, 2018, the S&P 500^® returned-4.38% while the MSCI EAFE Index, representing international developed market equities, returned-13.36%. During the same period, the Bloomberg Barclays US Aggregate Bond Index returned 0.01%. Please keep in mind that it is important to maintain a diversified portfolio as investment returns have historically been difficult to predict.

In addition to your active involvement in the investment process, we firmly believe that a financial professional is a key resource to help you build a complete picture of your current and future financial needs. Financial professionals are familiar with the market’s history, including long-term returns and volatility of various asset classes. With your financial professional, you can develop an investment program that incorporates factors such as your goals, your investment timeline and your risk tolerance.

Please contact your financial professional if you have any questions about the contents of this report, and thanks again for the confidence you have placed in us.

Sincerely,

Marijn Smit

President & Chief Executive Officer

Transamerica ETF Trust

Tom Wald, CFA

Chief Investment Officer

Transamerica ETF Trust

Bloomberg Barclays US Aggregate Bond Index: Measures investment grade, U.S. dollar denominated, fixed-rate taxable bonds, including Treasuries, government-related and corporate securities, as well as both mortgage- and asset-backed securities.

Dow Jones Industrial Average: a market that shows how 30 large, publicly owned companies based in the U.S. have traded during a standard trading session in the stock market.

MSCI EAFE Index: A free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada.

S&P 500^®: A market-capitalization weighted index of 500 large U.S. companies with common stock listed on the New York Stock Exchange or NASDAQ Stock Market.

The views expressed in this report reflect those of the portfolio managers only and may not necessarily represent the views of the Transamerica ETF Trust. These views are as of the date of this report and are subject to change based upon market conditions. These views should not be relied upon as investment advice and are not indicative of trading intent on behalf of the Transamerica ETF Trust. Investing involves risk, including potential loss of principal. The performance data presented represents past performance and does not guarantee future results. Indexes are unmanaged and an investor cannot invest directly in an index.

Disclosure of Expenses

(unaudited)

SHAREHOLDER EXPENSES

Fund shareholders may incur two types of costs: (i) transaction costs including brokerage commissions on purchases and sales of fund shares; and (ii) ongoing costs, including management fees.

The following examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at July 1, 2018, and held for the entiresix-month period until December 31, 2018.

ACTUAL EXPENSES

The information in the table below provides information about actual account values and actual expenses. You may use the information in these columns, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = $8.60), then multiply the result by the number in the appropriate column for your Fund titled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES

The information in the table below provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and assumed rates of return of 5% per year before expenses, which are not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund versus other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other fund(s).

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the information under the heading “Hypothetical Expenses” is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. If any of these transaction costs were included, your costs would be higher. The expenses shown in the table do not reflect any fees that may be charged to you by brokers, financial intermediaries, or other financial institutions.

			Actual Expenses				Hypothetical Expenses (A)
Fund	Beginning Account Value		Ending Account Value		Expenses Paid During Period (B)		Ending Account Value		Expenses Paid During Period (B)		Annualized Expense Ratio (C)
DeltaShares® S&P 400 Managed Risk ETF	$	1,000.00	$	899.20	$	2.15	$	1,022.90	$	2.29		0.45	%
DeltaShares® S&P 500 Managed Risk ETF		1,000.00		960.50		1.73		1,023.40		1.79		0.35
DeltaShares® S&P 600 Managed Risk ETF		1,000.00		892.60		2.15		1,022.90		2.29		0.45
DeltaShares® S&P International Managed Risk ETF		1,000.00		896.50		2.39		1,022.70		2.55		0.50

(A)	5% return per year before expenses.
(B)	Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days), and divided by the number of days in the year (365 days).
(C)	The annualized expense ratios, as stated in the fee table of the Funds’ Prospectus, may differ from the expense ratios disclosed in this report.

Transamerica ETF Trust Annual Report 2018

Page    2

DeltaShares^® S&P 400 Managed Risk ETF

(unaudited)

MARKET ENVIRONMENT

After a stellar performance in 2017, equities around the globe posed a major challenge to investors in 2018. It was the first calendar year since 2015 to bring net losses to global benchmark MSCI ACWIex-U.S. Index, and the first year since 2008 to bring negative returns to the S&P 500^®. Throughout the year, investor outlook was plagued with political risks, worries regarding global trade, the U.S. Federal Reserve (“Fed”) tightening program in the U.S., and general signs of weakening global economic growth.

The turmoil kicked off in February with a sharpsell-off in U.S. markets that included the largest eversingle-day point drop in the Dow Jones Industrial Average (“Dow”), and took most major market indices into sharp drawdowns. However, by the second half of the month, equity markets were on the mend, and the S&P 500^® recovered half its losses bymid-February. Regardless, the February drawdown brought about a markedly higher regime for volatility, which set the tone for the rest of the year.

Equities recovered modestly in the second quarter, but exhibited declining volatility, and the third quarter was a generally positive quarter, with the exception of emerging markets. By contrast, the fourth quarter brought most equities to the brink of bear market territory, and reinforced fears that centered on slowing global growth and trade disputes between the U.S. and China. After dovish comments from the Fed, U.S. equities staged a record breaking rally on December 26th, including a 4.96% return for the S&P 500^®. Fixed income benefited from safe haven buying in the fourth quarter, and erased much of the losses from earlier in the year, leaving major indices flat to negative for the year.

PERFORMANCE OVERVIEW

For the year ended December 31, 2018, the DeltaShares^® S&P 400 Managed Risk ETF (NAV) returned-9.19%. By comparison, the Underlying Index returned-8.69% and the S&P MidCap 400^® Index returned-11.08%.

The Fund’s performance reflects annual operating expenses of the Fund, including management fees, brokerage expenses, and other fees and expenses. Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

STRATEGY REVIEW

The DeltaShares^® S&P 400 Managed Risk ETF (the “Fund”) seeks to track the investment results, before fees and expenses, of the S&P 400^® Managed Risk 2.0 Index (the “Underlying Index”).

The Fund seeks to achieve this investment objective by holding a portfolio of securities that are included in the Underlying Index, including common stocks, U.S. Treasury bonds, and/or cash. The Underlying Index is designed to simulate, through a rules-based methodology, a dynamic portfolio with the aim of both managing the volatility of the Underlying Index and limiting losses from the Underlying Index’s equity exposure due to severe sustained market declines. The Underlying Index seeks to achieve these objectives by allocating weightings among the S&P MidCap 400^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The Fund may also use derivatives in an effort to gain exposure to underlying securities and markets in a more efficient manner or optimize the execution processes and costs for portfolio transitions. Under normal circumstances, the Fund uses a replication strategy and generally expects to invest in substantially all of the securities in the Underlying Index.

During the period, the largest contributors to the Fund’s absolute total return were U.S. Treasury bonds as well as equities within the health care and utilities sectors. The largest detractors were equities within the financials, industrials and consumer discretionary sectors.

During the fiscal year, the Fund utilized derivatives. These positions detracted from performance.

Blake Graves, CFA

Charles Lowery

Louis Ng

Co-Portfolio Managers

Milliman Financial Risk Management LLC

Asset Allocation	Percentage of Net Assets
U.S. Government Obligation		64.0	%
Common Stocks		33.3
Other Investment Company		1.3
Repurchase Agreement		0.4
Net Other Assets (Liabilities) ^		1.0
Total		100.0	%

^ The Net Other Assets (Liabilities) category may include, but is not limited to, reverse repurchase agreements, forward foreign currency contracts, futures contracts, swap agreements, written options and swaptions, and cash collateral.

Allocations are subject to change.

Transamerica ETF Trust Annual Report 2018

Page    3

DeltaShares^® S&P 400 Managed Risk ETF

(unaudited)

Performance as of December 31, 2018
		Average Annual Total Returns						Cumulative Total Returns					Inception Date
	1 Year			10 Year or Since Inception			1 Year			10 Year or Since Inception
Fund NAV		(9.19	)%		(1.09	)%		(9.19	)%		(1.54	)%	07/31/2017
Fund Market		(9.32	)%		(1.15	)%		(9.32	)%		(1.64	)%	07/31/2017
S&P MidCap 400® Index (A)		(11.08	)%		(2.42	)%		(11.08	)%		(3.42	)%
S&P 400® Managed Risk 2.0 Index (A)(B)(C)(D)		(8.69	)%		(0.58	)%		(8.69	)%		(0.82	)%

^(A) The S&P MidCap 400^® Index is a market-capitalization weighted index of 400mid-size U.S. companies with common stock listed on the NYSE or NASDAQ.

^(B) The S&P MidCap 400^® Managed Risk 2.0 Index is comprised of weightings amongst the S&P MidCap 400^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The S&P MidCap 400^® Managed Risk 2.0 Index rebalances on a daily basis.

^(C) The S&P U.S. Treasury Bond Current5-Year Index is aone-security index comprising the most recently issued5-year U.S. Treasury note or bond.

^(D) The S&P U.S. Treasury Bill0-3 Month Index is designed to measure the performance of U.S. Treasury bills maturing in 0 to 3 months.

The Fund’s benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested and do not include any managerial expenses. The 10 Years or the Since Inception calculation is based on the previous 10 years or since the inception date, whichever is more recent. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, a Fund’s performance is negatively impacted by these deductions. You cannot invest directly in an index.

The performance data presented represents past performance and does not guarantee future results. Performance data does not reflect the deduction of taxes that would be paid on Fund distributions or the redemption of Fund shares. The Fund’s investment return and net asset value will fluctuate. Past performance does not guarantee future results. Investors’ shares when sold may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. Please see www.deltashares.com for performance data current to the most recent month end. Fund performance is net of investment fees and Fund expenses.

Performance results do not include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles and may differ from amounts reported in the Financial Highlights.

Fund shares are bought and sold at Market Price, not Net Asset Value (“NAV”), and are not individually redeemed from the fund. Net Asset Value is an exchange-traded fund’s per-share value. The per-share dollar amount of the Fund is derived by dividing the total value of all the securities in the portfolio, less any liabilities, by the number of Fund shares outstanding. Market Price is the price at which a share can currently be traded in the market. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated.

Exchange-Traded Funds (ETFs) are subject to market risk, including the loss of principal. Because Fund Shares trade at market prices rather than at NAV, Fund Shares may trade at a price greater than NAV (premium) or less than NAV (discount). Shares of DeltaShares^® ETFs may be bought and sold throughout the day on the exchange through any brokerage account. Buying and selling shares of ETFs will result in brokerage commissions. Diversification and asset allocation may not protect against market risk or loss of principal. Investing involves risk, including the possible loss of principal. There is no guarantee the investment objective will be achieved. Investing in medium capitalization companies involves greater risk than is customarily associated with more established companies. The prices of securities of medium capitalization companies generally are more volatile and are more likely to be adversely affected by changes in earnings results and investor expectations or poor economic or market conditions. The market prices of fixed-income securities may go up or down, sometimes rapidly and unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. The principal risks include risks related to: Equity securities, index tracking, leveraging, derivatives such as futures, forwards, swaps, options, and investing in underlying exchange-traded funds. The use of derivatives may produce disproportionate gains or losses, may increase costs, and amplify risks.

Transamerica ETF Trust Annual Report 2018

Page    4

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS

At December 31, 2018

	Shares		Value
COMMON STOCKS - 33.3%
Aerospace & Defense - 0.3%
Curtiss-Wright Corp.		1,019		$  104,060
Esterline Technologies Corp.(A)		619		75,178
Teledyne Technologies, Inc.(A)		840		173,939
				353,177
Airlines - 0.1%
JetBlue Airways Corp.(A)		7,098		113,994
Auto Components - 0.3%
Adient PLC		2,023		30,466
Dana, Inc.		3,369		45,920
Delphi Technologies PLC		2,061		29,514
Gentex Corp.		6,105		123,382
Visteon Corp.(A)		673		40,568
				269,850
Automobiles - 0.1%
Thor Industries, Inc.		1,168		60,736
Banks - 2.5%
Associated Banc-Corp.		3,861		76,409
BancorpSouth Bank		2,113		55,234
Bank of Hawaii Corp.		972		65,435
Bank OZK		2,816		64,289
Cathay General Bancorp		1,794		60,153
Chemical Financial Corp.		1,664		60,919
Commerce Bancshares, Inc.		2,313		130,384
Cullen / Frost Bankers, Inc.		1,490		131,031
East West Bancorp, Inc.		3,376		146,957
First Horizon National Corp.		7,545		99,292
FNB Corp.		7,553		74,322
Fulton Financial Corp.		4,101		63,483
Hancock Whitney Corp.		1,984		68,746
Home BancShares, Inc.		3,706		60,556
International Bancshares Corp.		1,279		43,998
MB Financial, Inc.		1,962		77,754
PacWest Bancorp		2,836		94,382
Pinnacle Financial Partners, Inc.		1,705		78,601
Prosperity Bancshares, Inc.		1,545		96,253
Signature Bank		1,243		127,793
Sterling Bancorp		5,228		86,314
Synovus Financial Corp.		3,857		123,385
TCF Financial Corp.		3,885		75,719
Texas Capital Bancshares, Inc.(A)		1,169		59,724
Trustmark Corp.		1,563		44,436
UMB Financial Corp.		1,045		63,714
Umpqua Holdings Corp.		5,129		81,551
United Bankshares, Inc.		2,404		74,788
Valley National Bancorp		7,720		68,554
Webster Financial Corp.		2,149		105,924
Wintrust Financial Corp.		1,314		87,368
				2,547,468
Beverages - 0.0%(B)
Boston Beer Co., Inc., Class A(A)		201		48,409
Biotechnology - 0.3%
Exelixis, Inc.(A)		6,963		136,962
Ligand Pharmaceuticals, Inc.(A) (C)		495		67,172
United Therapeutics Corp.(A)		1,015		110,533
				314,667

	Shares		Value
COMMON STOCKS (continued)
Building Products - 0.2%
Lennox International, Inc.		844		$   184,718
Resideo Technologies, Inc.(A)		2,864		58,855
				243,573
Capital Markets - 1.0%
Eaton Vance Corp.		2,714		95,478
Evercore, Inc., Class A		943		67,481
FactSet Research Systems, Inc.		886		177,315
Federated Investors, Inc., Class B		2,223		59,021
Interactive Brokers Group, Inc., Class A		1,749		95,583
Janus Henderson Group PLC		3,886		80,518
Legg Mason, Inc.		1,992		50,816
MarketAxess Holdings, Inc.		876		185,108
SEI Investments Co.		3,043		140,587
Stifel Financial Corp.		1,677		69,461
				1,021,368
Chemicals - 0.9%
Ashland Global Holdings, Inc.		1,455		103,247
Cabot Corp.		1,399		60,073
Chemours Co.		3,985		112,457
Minerals Technologies, Inc.		822		42,201
NewMarket Corp.		207		85,303
Olin Corp.		3,885		78,127
PolyOne Corp.		1,859		53,167
RPM International, Inc.		3,091		181,689
ScottsMiracle-Gro Co.		915		56,236
Sensient Technologies Corp.		985		55,012
Valvoline, Inc.		4,382		84,792
				912,304
Commercial Services & Supplies - 0.5%
Brink’s Co.		1,179		76,222
Clean Harbors, Inc.(A)		1,188		58,628
Deluxe Corp.		1,079		41,477
Healthcare Services Group, Inc.(C)		1,719		69,069
Herman Miller, Inc.		1,382		41,806
HNI Corp.		1,021		36,174
MSA Safety, Inc.		816		76,924
Pitney Bowes, Inc.		4,370		25,827
Stericycle, Inc.(A)		1,984		72,793
				498,920
Communications Equipment - 0.5%
ARRIS International PLC(A)		3,806		116,349
Ciena Corp.(A)		3,306		112,107
InterDigital, Inc.		788		52,347
Lumentum Holdings, Inc.(A)		1,715		72,047
NetScout Systems, Inc.(A)		1,629		38,493
Plantronics, Inc.		769		25,454
ViaSat, Inc.(A) (C)		1,306		76,989
				493,786
Construction & Engineering - 0.4%
AECOM(A)		3,641		96,486
Dycom Industries, Inc.(A)		729		39,395
EMCOR Group, Inc.		1,340		79,985
Granite Construction, Inc.		1,092		43,986
KBR, Inc.		3,281		49,806
MasTec, Inc.(A) (C)		1,485		60,232
Valmont Industries, Inc.		514		57,028
				426,918

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    5

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Construction Materials - 0.1%
Eagle Materials, Inc.		1,092		$   66,645
Consumer Finance - 0.1%
Navient Corp.		5,347		47,107
SLM Corp.(A)		10,147		84,322
				131,429
Containers & Packaging - 0.5%
AptarGroup, Inc.		1,463		137,624
Bemis Co., Inc.		2,120		97,308
Greif, Inc., Class A		605		22,452
Owens-Illinois, Inc.(A)		3,696		63,719
Silgan Holdings, Inc.		1,803		42,587
Sonoco Products Co.		2,325		123,527
				487,217
Distributors - 0.1%
Pool Corp.		938		139,434
Diversified Consumer Services - 0.3%
Adtalem Global Education, Inc.(A)		1,368		64,734
Graham Holdings Co., Class B		101		64,698
Service Corp. International		4,214		169,656
Sotheby’s(A)		810		32,189
Weight Watchers International, Inc.(A)		903		34,811
				366,088
Electric Utilities - 0.5%
ALLETE, Inc.		1,198		91,312
Hawaiian Electric Industries, Inc.		2,536		92,868
IDACORP, Inc.		1,174		109,252
OGE Energy Corp.		4,652		182,312
PNM Resources, Inc.		1,856		76,263
				552,007
Electrical Equipment - 0.4%
Acuity Brands, Inc.		933		107,248
EnerSys		982		76,213
Hubbell, Inc.		1,275		126,659
nVent Electric PLC		3,803		85,415
Regal Beloit Corp.		1,005		70,400
				465,935
Electronic Equipment, Instruments & Components - 1.3%
Arrow Electronics, Inc.(A)		2,031		140,037
Avnet, Inc.		2,590		93,499
Belden, Inc.		939		39,222
Cognex Corp.		4,010		155,067
Coherent, Inc.(A)		568		60,043
Jabil, Inc.		3,348		82,997
Littelfuse, Inc.		586		100,487
National Instruments Corp.		2,622		118,986
SYNNEX Corp.		965		78,011
Tech Data Corp.(A)		869		71,093
Trimble, Inc.(A)		5,849		192,491
Vishay Intertechnology, Inc.		3,077		55,417
Zebra Technologies Corp., Class A(A)		1,253		199,515
				1,386,865
Energy Equipment & Services - 0.4%
Apergy Corp.(A)		1,801		48,771
Core Laboratories NV		1,030		61,450
Diamond Offshore Drilling, Inc.(A) (C)		1,504		14,198

	Shares		Value
COMMON STOCKS (continued)
Energy Equipment & Services (continued)
Dril-Quip, Inc.(A)		833		$   25,015
Ensco PLC, Class A(C)		10,180		36,241
McDermott International, Inc.(A)		4,206		27,507
Oceaneering International, Inc.(A)		2,295		27,770
Patterson-UTI Energy, Inc.		5,064		52,412
Rowan Cos. PLC, Class A(A)		2,959		24,826
Transocean, Ltd.(A)		11,784		81,781
				399,971
Entertainment - 0.3%
Cinemark Holdings, Inc.		2,476		88,641
Live Nation Entertainment, Inc.(A)		3,221		158,634
World Wrestling Entertainment, Inc., Class A		1,011		75,542
				322,817
Equity Real Estate Investment Trusts - 3.0%
Alexander & Baldwin, Inc.		1,577		28,985
American Campus Communities, Inc.		3,192		132,117
Camden Property Trust		2,169		190,981
CoreCivic, Inc.		2,764		49,282
CoreSite Realty Corp.		855		74,582
Corporate Office Properties Trust		2,535		53,311
Cousins Properties, Inc.		9,791		77,349
CyrusOne, Inc.		2,465		130,349
Douglas Emmett, Inc.		3,760		128,329
EPR Properties		1,732		110,900
First Industrial Realty Trust, Inc.		2,942		84,906
Geo Group, Inc.		2,837		55,889
Healthcare Realty Trust, Inc.		2,917		82,960
Highwoods Properties, Inc.		2,410		93,243
Hospitality Properties Trust		3,830		91,460
JBG SMITH Properties		2,535		88,243
Kilroy Realty Corp.		2,346		147,517
Lamar Advertising Co., Class A		1,982		137,115
Liberty Property Trust		3,443		144,193
Life Storage, Inc.		1,085		100,894
Mack-Cali Realty Corp.		2,104		41,217
Medical Properties Trust, Inc.		8,500		136,680
National Retail Properties, Inc.		3,707		179,827
Omega Healthcare Investors, Inc.		4,674		164,291
Pebblebrook Hotel Trust		2,982		84,420
PotlatchDeltic Corp.		1,574		49,801
Rayonier, Inc.		3,015		83,485
Sabra Health Care REIT, Inc.		4,153		68,442
Senior Housing Properties Trust		5,537		64,894
Tanger Factory Outlet Centers, Inc.(C)		2,188		44,241
Taubman Centers, Inc.		1,422		64,687
Uniti Group, Inc.(A)		4,169		64,911
Urban Edge Properties		2,662		44,242
Weingarten Realty Investors		2,780		68,972
				3,162,715
Food & Staples Retailing - 0.2%
Casey’s General Stores, Inc.		852		109,175
Sprouts Farmers Market, Inc.(A)		2,972		69,872
				179,047
Food Products - 0.6%
Flowers Foods, Inc.		4,274		78,941
Hain Celestial Group, Inc.(A)		2,084		33,052

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    6

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Food Products (continued)
Ingredion, Inc.		1,647		$   150,536
Lancaster Colony Corp.		455		80,471
Post Holdings, Inc.(A)		1,553		138,419
Sanderson Farms, Inc.		468		46,468
Tootsie Roll Industries, Inc.(C)		431		14,395
TreeHouse Foods, Inc.(A)		1,304		66,126
				608,408
Gas Utilities - 0.8%
Atmos Energy Corp.		2,721		252,291
National Fuel Gas Co.(C)		2,002		102,462
New Jersey Resources Corp.		2,062		94,172
ONE Gas, Inc.		1,223		97,351
Southwest Gas Holdings, Inc.		1,235		94,477
UGI Corp.		4,049		216,014
				856,767
Health Care Equipment & Supplies - 1.5%
Avanos Medical, Inc.(A)		1,105		49,493
Cantel Medical Corp.		845		62,910
Globus Medical, Inc., Class A(A)		1,771		76,649
Haemonetics Corp.(A)		1,204		120,460
Hill-Rom Holdings, Inc.		1,567		138,758
ICU Medical, Inc.(A)		386		88,637
Inogen, Inc.(A)		411		51,034
Integra LifeSciences Holdings Corp.(A)		1,647		74,279
LivaNova PLC(A)		1,134		103,727
Masimo Corp.(A)		1,135		121,865
NuVasive, Inc.(A)		1,198		59,373
STERIS PLC		1,968		210,281
Teleflex, Inc.		1,071		276,832
West Pharmaceutical Services, Inc.		1,725		169,102
				1,603,400
Health Care Providers & Services - 0.7%
Acadia Healthcare Co., Inc.(A) (C)		2,055		52,834
Chemed Corp.		373		105,663
Encompass Health Corp.		2,304		142,157
HealthEquity, Inc.(A)		1,264		75,397
MEDNAX, Inc.(A)		2,083		68,739
Molina Healthcare, Inc.(A)		1,453		168,868
Patterson Cos., Inc.		1,924		37,826
Tenet Healthcare Corp.(A)		1,933		33,132
				684,616
Health Care Technology - 0.1%
Allscripts Healthcare Solutions, Inc.(A)		4,070		39,235
Medidata Solutions, Inc.(A)		1,425		96,073
				135,308
Hotels, Restaurants & Leisure - 1.3%
Boyd Gaming Corp.		1,881		39,087
Brinker International, Inc.(C)		899		39,538
Cheesecake Factory, Inc.		971		42,248
Churchill Downs, Inc.		278		67,815
Cracker Barrel Old Country Store, Inc.(C)		559		89,362
Domino’s Pizza, Inc.		969		240,302
Dunkin’ Brands Group, Inc.		1,924		123,367
Eldorado Resorts, Inc.(A)		1,514		54,822
International Speedway Corp., Class A		570		25,000
Jack in the Box, Inc.		599		46,500

	Shares		Value
COMMON STOCKS (continued)
Hotels, Restaurants & Leisure (continued)
Marriott Vacations Worldwide Corp.		953		$   67,196
Papa John’s International, Inc.		522		20,781
Penn National Gaming, Inc.(A)		2,519		47,433
Scientific Games Corp., Class A(A)		1,282		22,922
Six Flags Entertainment Corp.		1,671		92,958
Texas Roadhouse, Inc.		1,550		92,535
Wendy’s Co.		4,357		68,013
Wyndham Destinations, Inc.		2,270		81,357
Wyndham Hotels & Resorts, Inc.		2,310		104,805
				1,366,041
Household Durables - 0.5%
Helen of Troy, Ltd.(A)		615		80,676
KB Home		2,007		38,334
NVR, Inc.(A)		79		192,522
Tempur Sealy International, Inc.(A)		1,067		44,174
Toll Brothers, Inc.		3,158		103,993
TRI Pointe Group, Inc.(A)		3,312		36,200
Tupperware Brands Corp.		1,131		35,705
				531,604
Household Products - 0.1%
Energizer Holdings, Inc.		1,388		62,668
Industrial Conglomerates - 0.1%
Carlisle Cos., Inc.		1,387		139,421
Insurance - 1.7%
Alleghany Corp.		345		215,045
American Financial Group, Inc.		1,642		148,650
Aspen Insurance Holdings, Ltd.		1,390		58,366
Brown & Brown, Inc.		5,463		150,560
CNO Financial Group, Inc.		3,835		57,065
First American Financial Corp.		2,604		116,243
Genworth Financial, Inc., Class A(A)		11,663		54,350
Hanover Insurance Group, Inc.		986		115,135
Kemper Corp.		1,417		94,060
Mercury General Corp.		631		32,629
Old Republic International Corp.		6,626		136,297
Primerica, Inc.		1,000		97,710
Reinsurance Group of America, Inc.		1,462		205,016
RenaissanceRe Holdings, Ltd.		938		125,411
WR Berkley Corp.		2,247		166,076
				1,772,613
Interactive Media & Services - 0.1%
Cars.com, Inc.(A)		1,469		31,584
Yelp, Inc., Class A(A)		1,781		62,317
				93,901
IT Services - 0.9%
CACI International, Inc., Class A(A)		579		83,393
CoreLogic, Inc.(A)		1,876		62,696
Leidos Holdings, Inc.		3,488		183,887
LiveRamp Holdings, Inc.(A)		1,584		61,190
MAXIMUS, Inc.		1,494		97,244
Perspecta, Inc.		3,294		56,723
Sabre Corp.		6,412		138,756
Science Applications International Corp.		991		63,127
WEX, Inc.(A)		1,004		140,620
				887,636

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    7

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares			Value
COMMON STOCKS (continued)
Leisure Products - 0.2%
Brunswick Corp.		2,021			$   93,876
Polaris Industries, Inc.		1,352			103,671
					197,547
Life Sciences Tools & Services - 0.5%
Bio-Rad Laboratories, Inc., Class A(A)		469			108,911
Bio-Techne Corp.		879			127,209
Charles River Laboratories International, Inc.(A)		1,120			126,762
PRA Health Sciences, Inc.(A)		1,362			125,249
Syneos Health, Inc.(A)		1,418			55,798
					543,929
Machinery - 1.7%
AGCO Corp.		1,532			85,286
Crane Co.		1,177			84,956
Donaldson Co., Inc.		2,979			129,259
Graco, Inc.		3,876			162,210
IDEX Corp.		1,787			225,627
ITT, Inc.		2,040			98,471
Kennametal, Inc.		1,912			63,631
Lincoln Electric Holdings, Inc.		1,501			118,354
Nordson Corp.		1,219			145,488
Oshkosh Corp.		1,674			102,633
Terex Corp.		1,510			41,631
Timken Co.		1,611			60,122
Toro Co.		2,450			136,906
Trinity Industries, Inc.		3,408			70,171
Wabtec Corp.(C)		2,003			140,711
Woodward, Inc.		1,295			96,205
					1,761,661
Marine - 0.1%
Kirby Corp.(A)		1,255			84,537
Media - 0.4%
AMC Networks, Inc., Class A(A) (C)		1,049			57,569
Cable One, Inc.		116			95,132
John Wiley & Sons, Inc., Class A		1,053			49,459
Meredith Corp.(C)		929			48,252
New York Times Co., Class A(C)		3,288			73,290
TEGNA, Inc.		5,014			54,502
					378,204
Metals & Mining - 0.7%
Allegheny Technologies, Inc.(A)		2,927			63,720
Carpenter Technology Corp.		1,103			39,278
Commercial Metals Co.		2,740			43,895
Compass Minerals International, Inc.		789			32,893
Reliance Steel & Aluminum Co.		1,640			116,719
Royal Gold, Inc.		1,526			130,702
Steel Dynamics, Inc.		5,346			160,594
U.S. Steel Corp.		4,129			75,313
Worthington Industries, Inc.		938			32,680
					695,794
Multi-Utilities - 0.4%
Black Hills Corp.		1,257			78,915
MDU Resources Group, Inc.		4,566	��		108,853
NorthWestern Corp.		1,172			69,664
Vectren Corp.		1,935			139,281
					396,713

	Shares		Value
COMMON STOCKS (continued)
Multiline Retail - 0.1%
Big Lots, Inc.		940		$   27,185
Dillard’s, Inc., Class A(C)		430		25,933
Ollie’s Bargain Outlet Holdings, Inc.(A)		1,201		79,879
				132,997
Oil, Gas & Consumable Fuels - 0.9%
Callon Petroleum Co.(A)		5,300		34,397
Chesapeake Energy Corp.(A) (C)		21,281		44,690
CNX Resources Corp.(A)		4,742		54,154
EQT Corp.		5,926		111,942
Equitrans Midstream Corp.(A)		4,738		94,855
Matador Resources Co.(A)		2,412		37,458
Murphy Oil Corp.		3,789		88,625
Oasis Petroleum, Inc.(A)		6,230		34,452
PBF Energy, Inc., Class A		2,792		91,215
QEP Resources, Inc.(A)		5,514		31,044
Range Resources Corp.		4,823		46,156
SM Energy Co.		2,403		37,198
Southwestern Energy Co.(A)		13,538		46,164
World Fuel Services Corp.		1,566		33,528
WPX Energy, Inc.(A)		9,202		104,443
				890,321
Paper & Forest Products - 0.1%
Domtar Corp.		1,465		51,466
Louisiana-Pacific Corp.		3,288		73,059
				124,525
Personal Products - 0.1%
Edgewell Personal Care Co.(A)		1,258		46,986
Nu Skin Enterprises, Inc., Class A		1,294		79,361
				126,347
Pharmaceuticals - 0.2%
Catalent, Inc.(A)		3,386		105,576
Mallinckrodt PLC(A)		1,941		30,668
Prestige Consumer Healthcare, Inc.(A)		1,205		37,210
				173,454
Professional Services - 0.4%
ASGN, Inc.(A)		1,222		66,599
Dun & Bradstreet Corp.		865		123,470
Insperity, Inc.		886		82,717
ManpowerGroup, Inc.		1,441		93,377
				366,163
Real Estate Management & Development - 0.2%
Jones Lang LaSalle, Inc.		1,061		134,323
Realogy Holdings Corp.		2,752		40,399
				174,722
Road & Rail - 0.6%
Avis Budget Group, Inc.(A)		1,513		34,012
Genesee & Wyoming, Inc., Class A(A)		1,360		100,667
Knight-Swift Transportation Holdings, Inc.(C)		2,927		73,380
Landstar System, Inc.		958		91,652
Old Dominion Freight Line, Inc.		1,524		188,199
Ryder System, Inc.		1,237		59,562
Werner Enterprises, Inc.		1,028		30,367
				577,839

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    8

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment - 1.0%
Cirrus Logic, Inc.(A)		1,393		$   46,220
Cree, Inc.(A)		2,388		102,147
Cypress Semiconductor Corp.		8,430		107,230
First Solar, Inc.(A)		1,757		74,593
Integrated Device Technology, Inc.(A)		3,005		145,532
MKS Instruments, Inc.		1,257		81,215
Monolithic Power Systems, Inc.		909		105,671
Silicon Laboratories, Inc.(A)		1,005		79,204
Synaptics, Inc.(A)		806		29,991
Teradyne, Inc.		4,175		131,011
Universal Display Corp.(C)		988		92,447
Versum Materials, Inc.		2,540		70,409
				1,065,670
Software - 1.3%
ACI Worldwide, Inc.(A)		2,701		74,737
Blackbaud, Inc.		1,131		71,140
CDK Global, Inc.		2,999		143,592
CommVault Systems, Inc.(A)		906		53,536
Fair Isaac Corp.(A)		674		126,038
j2 Global, Inc.		1,090		75,624
LogMeIn, Inc.		1,192		97,231
Manhattan Associates, Inc.(A)		1,523		64,530
PTC, Inc.(A)		2,488		206,255
Teradata Corp.(A)		2,753		105,605
Tyler Technologies, Inc.(A)		905		168,167
Ultimate Software Group, Inc.(A)		728		178,265
				1,364,720
Specialty Retail - 0.7%
Aaron’s, Inc.		1,597		67,154
American Eagle Outfitters, Inc.		3,924		75,851
AutoNation, Inc.(A)		1,340		47,838
Bed Bath & Beyond, Inc.(C)		3,215		36,394
Dick’s Sporting Goods, Inc.		1,718		53,601
Five Below, Inc.(A)		1,299		132,914
Michaels Cos., Inc.(A)		2,093		28,339
Murphy USA, Inc.(A)		699		53,571
Sally Beauty Holdings, Inc.(A)		2,798		47,706
Signet Jewelers, Ltd.		1,209		38,410
Urban Outfitters, Inc.(A)		1,755		58,266
Williams-Sonoma, Inc.(C)		1,867		94,190
				734,234
Technology Hardware, Storage & Peripherals - 0.1%
NCR Corp.(A)		2,753		63,539
Textiles, Apparel & Luxury Goods - 0.2%
Carter’s, Inc.		1,068		87,170
Deckers Outdoor Corp.(A)		678		86,750
Skechers U.S.A., Inc., Class A(A)		3,118		71,371
				245,291
Thrifts & Mortgage Finance - 0.2%
LendingTree, Inc.(A)		173		37,986
New York Community Bancorp, Inc.		11,420		107,462
Washington Federal, Inc.		1,899		50,722
				196,170
Trading Companies & Distributors - 0.3%
GATX Corp.		876		62,029
MSC Industrial Direct Co., Inc., Class A		1,057		81,304

	Shares		Value
COMMON STOCKS (continued)
Trading Companies & Distributors (continued)
NOW, Inc.(A)		2,526		$   29,403
Watsco, Inc.		748		104,077
				276,813
Water Utilities - 0.1%
Aqua America, Inc.		4,145		141,718
Wireless Telecommunication Services - 0.1%
Telephone & Data Systems, Inc.		2,165		70,449
Total Common Stocks (Cost $36,356,537)				34,491,080
	Principal		Value
U.S. GOVERNMENT OBLIGATION - 64.0%
U.S. Treasury - 64.0%
U.S. Treasury Note 2.63%, 12/31/2023		$  66,128,000		66,474,114
Total U.S. Government Obligation (Cost $66,329,643)				66,474,114
	Shares		Value
OTHER INVESTMENT COMPANY - 1.3%
Securities Lending Collateral - 1.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 2.35%(D)		1,340,258		1,340,258
Total Other Investment Company (Cost $1,340,258)				1,340,258
	Principal		Value
REPURCHASE AGREEMENT - 0.4%
Fixed Income Clearing Corp., 1.45% (D), dated 12/31/2018, to be repurchased at $453,608 on 01/02/2019. Collateralized by a U.S. Government Obligation, 2.75%, due 06/30/2025, and with a value of $463,055.		$  453,571		453,571
Total Repurchase Agreement (Cost $453,571)				453,571
Total Investments (Cost $104,480,009)				102,759,023
Net Other Assets (Liabilities) - 1.0%				1,084,990
Net Assets - 100.0%				$  103,844,013

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    9

DeltaShares^® S&P 400 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

FUTURES CONTRACTS:

Description	Long/Short		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation		Unrealized Depreciation
5-Year U.S. Treasury Note		Long		17		03/29/2019	$	1,949,185	$	1,949,688	$	503	$	—
S&P Midcap 400®E-Mini Index		Long		6		03/15/2019		980,510		997,320		16,810		—
Total											$	17,313	$	—

SECURITY VALUATION:

Valuation Inputs^(E)

	Level 1 -  Unadjusted Quoted Prices		Level 2 -  Other Significant Observable Inputs		Level 3 -  Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	34,491,080	$	—	$	—	$	34,491,080
U.S. Government Obligation		—		66,474,114		—		66,474,114
Other Investment Company		1,340,258		—		—		1,340,258
Repurchase Agreement		—		453,571		—		453,571
Total Investments	$	35,831,338	$	66,927,685	$	—	$	102,759,023
Other Financial Instruments
Futures Contracts(F)	$	17,313	$	—	$	—	$	17,313
Total Other Financial Instruments	$	17,313	$	—	$	—	$	17,313

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $1,307,891. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(D)	Rates disclosed reflect the yields at December 31, 2018.
(E)	There were no transfers in or out of Level 3 during the year ended December 31, 2018. Please reference the Security Valuation section of the Notes to Financial Statements for more information regarding security valuation and pricing inputs.
(F)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    10

DeltaShares^® S&P 500 Managed Risk ETF

(unaudited)

MARKET ENVIRONMENT

After a stellar performance in 2017, equities around the globe posed a major challenge to investors in 2018. It was the first calendar year since 2015 to bring net losses to global benchmark MSCI ACWIex-U.S. Index, and the first year since 2008 to bring negative returns to the S&P 500^®. Throughout the year, investor outlook was plagued with political risks, worries regarding global trade, the U.S. Federal Reserve (“Fed”) tightening program in the U.S., and general signs of weakening global economic growth.

The turmoil kicked off in February with a sharpsell-off in U.S. markets that included the largest eversingle-day point drop in the Dow Jones Industrial Average (“Dow”), and took most major market indices into sharp drawdowns. However, by the second half of the month, equity markets were on the mend, and the S&P 500^® recovered half its losses bymid-February. Regardless, the February drawdown brought about a markedly higher regime for volatility, which set the tone for the rest of the year.

Equities recovered modestly in the second quarter, but exhibited declining volatility, and the third quarter was a generally positive quarter, with the exception of emerging markets. By contrast, the fourth quarter brought most equities to the brink of bear market territory, and reinforced fears that centered on slowing global growth and trade disputes between the U.S. and China. After dovish comments from the Fed, U.S. equities staged a record breaking rally on December 26th, including a 4.96% return for the S&P 500^®. Fixed income benefited from safe haven buying in the fourth quarter, and erased much of the losses from earlier in the year, leaving major indices flat to negative for the year.

PERFORMANCE OVERVIEW

For the year ended December 31, 2018, the DeltaShares^® S&P 500 Managed Risk ETF (NAV) returned-3.68%. By comparison, the Underlying Index returned-3.27% and the S&P 500^® Index returned-4.38%.

The Fund’s performance reflects annual operating expenses of the Fund, including management fees, brokerage expenses, and other fees and expenses. Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

STRATEGY REVIEW

The DeltaShares^® S&P 500 Managed Risk ETF (the “Fund”) seeks to track the investment results, before fees and expenses, of the S&P 500 Managed Risk 2.0 Index (the “Underlying Index”).

The Fund seeks to achieve this investment objective by holding a portfolio of securities that are included in the Underlying Index, including common stocks, U.S. Treasury bonds, and/or cash. The Underlying Index is designed to simulate, through a rules-based methodology, a dynamic portfolio with the aim of both managing the volatility of the Underlying Index and limiting losses from the Underlying Index’s equity exposure due to severe sustained market declines. The Underlying Index seeks to achieve these objectives by allocating weightings among the S&P 500^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The Fund may also use derivatives in an effort to gain exposure to underlying securities and markets in a more efficient manner or optimize the execution processes and costs for portfolio transitions. Under normal circumstances, the Fund uses a replication strategy and generally expects to invest in substantially all of the securities in the Underlying Index.

During the period, the largest contributors to the Fund’s absolute total return were U.S. Treasury bonds as well as equities within the health care and information technology sectors. The largest detractors were equities within the financials, industrials and energy sectors.

During the fiscal year, the Fund utilized derivatives. These positions detracted from performance.

Blake Graves, CFA

Charles Lowery

Louis Ng

Co-Portfolio Managers

Milliman Financial Risk Management LLC

Asset Allocation	Percentage of Net Assets
U.S. Government Obligation		60.0	%
Common Stocks		38.7
Repurchase Agreement		0.3
Other Investment Company		0.0	*
Net Other Assets (Liabilities) ^		1.0
Total		100.0	%

* Percentage rounds to less than 0.1% or (0.1)%.

^ The Net Other Assets (Liabilities) category may include, but is not limited to, reverse repurchase agreements, forward foreign currency contracts, futures contracts, swap agreements, written options and swaptions, and cash collateral.

Allocations are subject to change.

Transamerica ETF Trust Annual Report 2018

Page    11

DeltaShares^® S&P 500 Managed Risk ETF

(unaudited)

Performance as of December 31, 2018
		Average Annual Total Returns						Cumulative Total Returns					Inception Date
	1 Year			10 Year or Since Inception			1 Year			10 Year or Since Inception
Fund NAV		(3.68	)%		3.45	%		(3.68	)%		4.94	%	07/31/2017
Fund Market		(3.94	)%		3.32	%		(3.94	)%		4.75	%	07/31/2017
S&P 500® Index(A)		(4.38	)%		3.02	%		(4.38	)%		4.32	%
S&P 500® Managed Risk 2.0 Index (A)(B)(C)(D)		(3.27	)%		3.86	%		(3.27	)%		5.54	%

^(A) The S&P 500^® Index is a market-capitalization weighted index of 500 large U.S. companies with common stock listed on the NYSE or NASDAQ.

^(B) The S&P 500^® Managed Risk 2.0 Index is comprised of weightings amongst the S&P 500^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The S&P 500^® Managed Risk 2.0 Index rebalances on a daily basis.

^(C) The S&P U.S. Treasury Bond Current5-Year Index is aone-security index comprising the most recently issued5-year U.S. Treasury note or bond.

^(D) The S&P U.S. Treasury Bill0-3 Month Index is designed to measure the performance of U.S. Treasury bills maturing in 0 to 3 months.

The Fund’s benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested and do not include any managerial expenses. The 10 Years or the Since Inception calculation is based on the previous 10 years or since the inception date, whichever is more recent. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, a Fund’s performance is negatively impacted by these deductions. You cannot invest directly in an index.

The performance data presented represents past performance and does not guarantee future results. Performance data does not reflect the deduction of taxes that would be paid on Fund distributions or the redemption of Fund shares. The Fund’s investment return and net asset value will fluctuate. Past performance does not guarantee future results. Investors’ shares when sold may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. Please see www.deltashares.com for performance data current to the most recent month end. Fund performance is net of investment fees and Fund expenses.

Performance results do not include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles and may differ from amounts reported in the Financial Highlights.

Fund shares are bought and sold at Market Price, not Net Asset Value (“NAV”), and are not individually redeemed from the fund. Net Asset Value is an exchange-traded fund’s per-share value. The per-share dollar amount of the Fund is derived by dividing the total value of all the securities in the portfolio, less any liabilities, by the number of Fund shares outstanding. Market Price is the price at which a share can currently be traded in the market. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated.

Exchange-Traded Funds (ETFs) are subject to market risk, including the loss of principal. Because Fund Shares trade at market prices rather than at NAV, Fund Shares may trade at a price greater than NAV (premium) or less than NAV (discount). Shares of DeltaShares^® ETFs may be bought and sold throughout the day on the exchange through any brokerage account. Buying and selling shares of ETFs will result in brokerage commissions. Diversification and asset allocation may not protect against market risk or loss of principal. Investing involves risk, including the possible loss of principal. There is no guarantee the investment objective will be achieved. Equity securities represent an ownership interest in an issuer, rank junior in a company’s capital structure and consequently may entail greater risk of loss than debt securities. The market prices of fixed-income securities may go up or down, sometimes rapidly and unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. The principal risks include risks related to: Equity securities, index tracking, leveraging, derivatives such as futures, forwards, swaps, options, and investing in underlying exchange-traded funds. The use of derivatives may produce disproportionate gains or losses, may increase costs, and amplify risks.

Transamerica ETF Trust Annual Report 2018

Page    12

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS

At December 31, 2018

	Shares		Value
COMMON STOCKS - 38.7%
Aerospace & Defense - 1.0%
Arconic, Inc.		3,055		$  51,507
Boeing Co.		3,751		1,209,697
General Dynamics Corp.		1,977		310,804
Harris Corp.		836		112,567
Huntington Ingalls Industries, Inc.		305		58,045
L3 Technologies, Inc.		559		97,076
Lockheed Martin Corp.		1,758		460,315
Northrop Grumman Corp.		1,233		301,962
Raytheon Co.		2,021		309,920
Textron, Inc.		1,726		79,379
TransDigm Group, Inc.(A)		345		117,321
United Technologies Corp.		5,764		613,751
				3,722,344
Air Freight & Logistics - 0.2%
CH Robinson Worldwide, Inc.		977		82,156
Expeditors International of Washington, Inc.		1,226		83,479
FedEx Corp.		1,722		277,810
United Parcel Service, Inc., Class B		4,938		481,603
				925,048
Airlines - 0.2%
Alaska Air Group, Inc.		876		53,305
American Airlines Group, Inc.		2,911		93,472
Delta Air Lines, Inc.		4,431		221,107
Southwest Airlines Co.		3,594		167,049
United Continental Holdings, Inc.(A)		1,626		136,145
				671,078
Auto Components - 0.1%
Aptiv PLC		1,871		115,197
BorgWarner, Inc.		1,479		51,380
Goodyear Tire & Rubber Co.		1,655		33,779
				200,356
Automobiles - 0.1%
Ford Motor Co.		27,750		212,288
General Motors Co.		9,323		311,854
Harley-Davidson, Inc.		1,157		39,477
				563,619
Banks - 2.2%
Bank of America Corp.		64,827		1,597,337
BB&T Corp.		5,473		237,090
Citigroup, Inc.		17,345		902,981
Citizens Financial Group, Inc.		3,323		98,793
Comerica, Inc.		1,148		78,856
Fifth Third Bancorp		4,657		109,579
First Republic Bank		1,162		100,978
Huntington Bancshares, Inc.		7,540		89,877
JPMorgan Chase & Co.		23,619		2,305,687
KeyCorp		7,348		108,603
M&T Bank Corp.		997		142,701
People’s United Financial, Inc.		2,681		38,687
PNC Financial Services Group, Inc.		3,277		383,114
Regions Financial Corp.		7,343		98,249
SunTrust Banks, Inc.		3,191		160,954
SVB Financial Group(A)		378		71,790
US Bancorp		10,790		493,103
Wells Fargo & Co.		30,090		1,386,547
Zions Bancorp NA		1,365		55,610
				8,460,536

	Shares		Value
COMMON STOCKS (continued)
Beverages - 0.7%
Brown-Forman Corp., Class B		1,181		$   56,192
Coca-Cola Co.		27,209		1,288,346
Constellation Brands, Inc., Class A		1,180		189,768
Molson Coors Brewing Co., Class B		1,330		74,693
Monster Beverage Corp.(A)		2,828		139,194
PepsiCo, Inc.		10,026		1,107,672
				2,855,865
Biotechnology - 1.0%
AbbVie, Inc.		10,684		984,958
Alexion Pharmaceuticals, Inc.(A)		1,585		154,316
Amgen, Inc.		4,526		881,076
Biogen, Inc.(A)		1,431		430,617
Celgene Corp.(A)		4,966		318,271
Gilead Sciences, Inc.		9,188		574,709
Incyte Corp.(A)		1,255		79,805
Regeneron Pharmaceuticals, Inc.(A)		551		205,798
Vertex Pharmaceuticals, Inc.(A)		1,815		300,764
				3,930,314
Building Products - 0.1%
A.O. Smith Corp.		1,022		43,639
Allegion PLC		675		53,804
Fortune Brands Home & Security, Inc.		1,004		38,142
Johnson Controls International PLC		6,563		194,593
Masco Corp.		2,170		63,451
				393,629
Capital Markets - 1.1%
Affiliated Managers Group, Inc.		374		36,443
Ameriprise Financial, Inc.		990		103,326
Bank of New York Mellon Corp.		6,461		304,119
BlackRock, Inc.		863		339,004
Cboe Global Markets, Inc.		797		77,970
Charles Schwab Corp.		8,537		354,542
CME Group, Inc.		2,541		478,013
E*TRADE Financial Corp.		1,806		79,247
Franklin Resources, Inc.		2,114		62,701
Goldman Sachs Group, Inc.		2,457		410,442
Intercontinental Exchange, Inc.		4,046		304,785
Invesco, Ltd.		2,922		48,914
Moody’s Corp.		1,184		165,807
Morgan Stanley		9,285		368,150
MSCI, Inc.		625		92,144
Nasdaq, Inc.		815		66,480
Northern Trust Corp.		1,572		131,403
Raymond James Financial, Inc.		916		68,160
S&P Global, Inc.		1,782		302,833
State Street Corp.		2,696		170,037
T. Rowe Price Group, Inc.		1,709		157,775
				4,122,295
Chemicals - 0.8%
Air Products & Chemicals, Inc.		1,559		249,518
Albemarle Corp.		754		58,111
Celanese Corp.		950		85,471
CF Industries Holdings, Inc.		1,639		71,313
DowDuPont, Inc.		16,295		871,457
Eastman Chemical Co.		995		72,744
Ecolab, Inc.		1,806		266,114

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    13

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Chemicals (continued)
FMC Corp.		956		$   70,706
International Flavors & Fragrances, Inc.		719		96,540
Linde PLC		3,914		610,741
LyondellBasell Industries NV, Class A		2,234		185,779
Mosaic Co.		2,519		73,580
PPG Industries, Inc.		1,704		174,200
Sherwin-Williams Co.		585		230,174
				3,116,448
Commercial Services & Supplies - 0.2%
Cintas Corp.		615		103,314
Copart, Inc.(A)		1,463		69,902
Republic Services, Inc.		1,545		111,379
Rollins, Inc.		1,046		37,761
Waste Management, Inc.		2,786		247,926
				570,282
Communications Equipment - 0.5%
Arista Networks, Inc.(A)		370		77,959
Cisco Systems, Inc.		31,933		1,383,657
F5 Networks, Inc.(A)		431		69,835
Juniper Networks, Inc.		2,451		65,956
Motorola Solutions, Inc.		1,161		133,562
				1,730,969
Construction & Engineering - 0.0%(B)
Fluor Corp.		999		32,168
Jacobs Engineering Group, Inc.		849		49,632
Quanta Services, Inc.		1,037		31,214
				113,014
Construction Materials - 0.0%(B)
Martin Marietta Materials, Inc.		445		76,482
Vulcan Materials Co.		938		92,674
				169,156
Consumer Finance - 0.3%
American Express Co.		4,975		474,217
Capital One Financial Corp.		3,364		254,285
Discover Financial Services		2,386		140,726
Synchrony Financial		4,696		110,168
				979,396
Containers & Packaging - 0.1%
Avery Dennison Corp.		616		55,335
Ball Corp.		2,409		110,766
International Paper Co.		2,877		116,116
Packaging Corp. of America		671		56,002
Sealed Air Corp.		1,115		38,846
WestRock Co.		1,801		68,006
				445,071
Distributors - 0.0%(B)
Genuine Parts Co.		1,042		100,053
LKQ Corp.(A)		2,260		53,630
				153,683
Diversified Consumer Services - 0.0%(B)
H&R Block, Inc.		1,460		37,040
Diversified Financial Services - 0.7%
Berkshire Hathaway, Inc., Class B(A)		13,817		2,821,155
Jefferies Financial Group, Inc.		1,996		34,651
				2,855,806

	Shares		Value
COMMON STOCKS (continued)
Diversified Telecommunication Services - 0.8%
AT&T, Inc.		51,693		$   1,475,318
CenturyLink, Inc.		6,754		102,323
Verizon Communications, Inc.		29,348		1,649,945
				3,227,586
Electric Utilities - 0.8%
Alliant Energy Corp.		1,676		70,811
American Electric Power Co., Inc.		3,502		261,739
Duke Energy Corp.		5,063		436,937
Edison International		2,314		131,366
Entergy Corp.		1,287		110,772
Evergy, Inc.		1,871		106,217
Eversource Energy		2,251		146,405
Exelon Corp.		6,868		309,747
FirstEnergy Corp.		3,451		129,585
NextEra Energy, Inc.		3,395		590,119
PG&E Corp.(A)		3,684		87,495
Pinnacle West Capital Corp.		796		67,819
PPL Corp.		5,115		144,908
Southern Co.		7,308		320,967
Xcel Energy, Inc.		3,651		179,885
				3,094,772
Electrical Equipment - 0.2%
AMETEK, Inc.		1,649		111,637
Eaton Corp. PLC		3,078		211,336
Emerson Electric Co.		4,447		265,708
Rockwell Automation, Inc.		857		128,961
				717,642
Electronic Equipment, Instruments & Components - 0.2%
Amphenol Corp., Class A		2,140		173,383
Corning, Inc.		5,685		171,744
FLIR Systems, Inc.		983		42,800
IPG Photonics Corp.(A)		254		28,775
Keysight Technologies, Inc.(A)		1,331		82,628
TE Connectivity, Ltd.		2,436		184,235
				683,565
Energy Equipment & Services - 0.2%
Baker Hughes a GE Co.		3,646		78,389
Halliburton Co.		6,222		165,381
Helmerich & Payne, Inc.		774		37,105
National Oilwell Varco, Inc.		2,723		69,981
Schlumberger, Ltd.		9,836		354,883
TechnipFMC PLC		3,022		59,171
				764,910
Entertainment - 0.8%
Activision Blizzard, Inc.		5,420		252,409
Electronic Arts, Inc.(A)		2,146		169,341
Netflix, Inc.(A)		3,097		828,943
Take-Two Interactive Software, Inc.(A)		809		83,279
Twenty-First Century Fox, Inc., Class A		7,507		361,237
Twenty-First Century Fox, Inc., Class B		3,460		165,319
Viacom, Inc., Class B		2,510		64,507
Walt Disney Co.		10,573		1,159,329
				3,084,364
Equity Real Estate Investment Trusts - 1.1%
Alexandria Real Estate Equities, Inc.		764		88,043
American Tower Corp.		3,129		494,977

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    14

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Equity Real Estate Investment Trusts (continued)
Apartment Investment & Management Co., Class A		1,105		$   48,487
AvalonBay Communities, Inc.		982		170,917
Boston Properties, Inc.		1,097		123,467
Crown Castle International Corp.		2,947		320,133
Digital Realty Trust, Inc.		1,465		156,096
Duke Realty Corp.		2,545		65,916
Equinix, Inc.		571		201,312
Equity Residential		2,617		172,748
Essex Property Trust, Inc.		469		115,003
Extra Space Storage, Inc.		899		81,342
Federal Realty Investment Trust		525		61,971
HCP, Inc.		3,391		94,711
Host Hotels & Resorts, Inc.		5,271		87,868
Iron Mountain, Inc.		2,033		65,890
Kimco Realty Corp.		2,993		43,847
Macerich Co.		751		32,503
Mid-America Apartment Communities, Inc.		809		77,421
Prologis, Inc.		4,471		262,537
Public Storage		1,065		215,567
Realty Income Corp.		2,096		132,132
Regency Centers Corp.		1,203		70,592
SBA Communications Corp.(A)		805		130,321
Simon Property Group, Inc.		2,197		369,074
SL Green Realty Corp.		606		47,922
UDR, Inc.		1,957		77,536
Ventas, Inc.		2,532		148,350
Vornado Realty Trust		1,230		76,297
Welltower, Inc.		2,668		185,186
Weyerhaeuser Co.		5,321		116,317
				4,334,483
Food & Staples Retailing - 0.6%
Costco Wholesale Corp.		3,112		633,946
Kroger Co.		5,668		155,870
Sysco Corp.		3,396		212,793
Walgreens Boots Alliance, Inc.		5,710		390,164
Walmart, Inc.		10,111		941,840
				2,334,613
Food Products - 0.4%
Archer-Daniels-Midland Co.		3,982		163,143
Campbell Soup Co.(C)		1,368		45,130
Conagra Brands, Inc.		3,449		73,671
General Mills, Inc.		4,235		164,911
Hershey Co.		996		106,751
Hormel Foods Corp.		1,936		82,628
J.M. Smucker, Co.		808		75,540
Kellogg Co.		1,799		102,561
Kraft Heinz Co.		4,417		190,108
Lamb Weston Holdings, Inc.		1,040		76,502
McCormick & Co., Inc.		865		120,443
Mondelez International, Inc., Class A		10,326		413,350
Tyson Foods, Inc., Class A		2,096		111,926
				1,726,664
Health Care Equipment & Supplies - 1.3%
Abbott Laboratories		12,474		902,244
ABIOMED, Inc.(A)		320		104,013
Align Technology, Inc.(A)		517		108,275

	Shares		Value
COMMON STOCKS (continued)
Health Care Equipment & Supplies (continued)
Baxter International, Inc.		3,515		$   231,357
Becton Dickinson and Co.		1,905		429,235
Boston Scientific Corp.(A)		9,829		347,357
Cooper Cos., Inc.		349		88,821
Danaher Corp.		4,381		451,769
DENTSPLY SIRONA, Inc.		1,581		58,829
Edwards Lifesciences Corp.(A)		1,485		227,458
Hologic, Inc.(A)		1,913		78,624
IDEXX Laboratories, Inc.(A)		612		113,844
Intuitive Surgical, Inc.(A)		811		388,404
Medtronic PLC		9,539		867,667
ResMed, Inc.		1,012		115,236
Stryker Corp.		2,206		345,791
Varian Medical Systems, Inc.(A)		647		73,312
Zimmer Biomet Holdings, Inc.		1,449		150,290
				5,082,526
Health Care Providers & Services - 1.2%
AmerisourceBergen Corp.		1,114		82,882
Anthem, Inc.		1,837		482,451
Cardinal Health, Inc.		2,116		94,374
Centene Corp.(A)		1,459		168,223
Cigna Corp.(A)		2,706		513,905
CVS Health Corp.		9,185		601,801
DaVita, Inc.(A)		896		46,108
HCA Healthcare, Inc.		1,907		237,326
Henry Schein, Inc.(A)		1,083		85,037
Humana, Inc.		974		279,032
Laboratory Corp. of America Holdings(A)		717		90,600
McKesson Corp.		1,388		153,332
Quest Diagnostics, Inc.		966		80,439
UnitedHealth Group, Inc.		6,833		1,702,237
Universal Health Services, Inc., Class B		606		70,635
WellCare Health Plans, Inc.(A)		355		83,812
				4,772,194
Health Care Technology - 0.0%(B)
Cerner Corp.(A)		2,340		122,710
Hotels, Restaurants & Leisure - 0.7%
Carnival Corp.		2,844		140,209
Chipotle Mexican Grill, Inc.(A)		174		75,132
Darden Restaurants, Inc.		882		88,077
Hilton Worldwide Holdings, Inc.		2,106		151,211
Marriott International, Inc., Class A		2,011		218,314
McDonald’s Corp.		5,475		972,196
MGM Resorts International		3,557		86,293
Norwegian Cruise Line Holdings, Ltd.(A)		1,562		66,213
Royal Caribbean Cruises, Ltd.		1,217		119,010
Starbucks Corp.		8,811		567,428
Wynn Resorts, Ltd.		695		68,742
Yum! Brands, Inc.		2,218		203,879
				2,756,704
Household Durables - 0.1%
D.R. Horton, Inc.		2,432		84,293
Garmin, Ltd.		858		54,328
Leggett & Platt, Inc.		926		33,188
Lennar Corp., Class A		2,078		81,354
Mohawk Industries, Inc.(A)		448		52,398

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    15

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Household Durables (continued)
Newell Brands, Inc.		3,050		$   56,699
PulteGroup, Inc.		1,835		47,692
Whirlpool Corp.		453		48,412
				458,364
Household Products - 0.7%
Church & Dwight Co., Inc.		1,749		115,014
Clorox Co.		907		139,805
Colgate-Palmolive Co.		6,160		366,643
Kimberly-Clark Corp.		2,460		280,292
Procter & Gamble Co.		17,695		1,626,525
				2,528,279
Independent Power & Renewable Electricity Producers - 0.0%(B)
AES Corp.		4,704		68,020
NRG Energy, Inc.		2,059		81,536
				149,556
Industrial Conglomerates - 0.6%
3M Co.		4,136		788,074
General Electric Co.		61,779		467,667
Honeywell International, Inc.		5,258		694,687
Roper Technologies, Inc.		735		195,892
				2,146,320
Insurance - 0.9%
Aflac, Inc.		5,407		246,343
Allstate Corp.		2,446		202,113
American International Group, Inc.		6,283		247,613
Aon PLC		1,711		248,711
Arthur J. Gallagher & Co.		1,304		96,105
Assurant, Inc.		370		33,093
Brighthouse Financial, Inc.(A)		842		25,664
Chubb, Ltd.		3,273		422,806
Cincinnati Financial Corp.		1,075		83,226
Everest Re Group, Ltd.		289		62,933
Hartford Financial Services Group, Inc.		2,548		113,259
Lincoln National Corp.		1,517		77,837
Loews Corp.		1,964		89,401
Marsh & McLennan Cos., Inc.		3,578		285,345
MetLife, Inc.		7,009		287,790
Principal Financial Group, Inc.		1,870		82,598
Progressive Corp.		4,142		249,887
Prudential Financial, Inc.		2,933		239,186
Torchmark Corp.		729		54,332
Travelers Cos., Inc.		1,881		225,250
Unum Group		1,554		45,656
Willis Towers Watson PLC		923		140,167
				3,559,315
Interactive Media & Services - 1.8%
Alphabet, Inc., Class A(A)		2,123		2,218,450
Alphabet, Inc., Class C(A)		2,185		2,262,808
Facebook, Inc., Class A(A)		17,064		2,236,920
TripAdvisor, Inc.(A)		727		39,214
Twitter, Inc.(A)		5,136		147,609
				6,905,001
Internet & Direct Marketing Retail - 1.4%
Amazon.com, Inc.(A)		2,917		4,381,246
Booking Holdings, Inc.(A)		329		566,676

	Shares		Value
COMMON STOCKS (continued)
Internet & Direct Marketing Retail (continued)
eBay, Inc.(A)		6,428		$   180,434
Expedia Group, Inc.		841		94,739
				5,223,095
IT Services - 1.9%
Accenture PLC, Class A		4,528		638,493
Akamai Technologies, Inc.(A)		1,157		70,670
Alliance Data Systems Corp.		333		49,977
Automatic Data Processing, Inc.		3,109		407,652
Broadridge Financial Solutions, Inc.		829		79,791
Cognizant Technology Solutions Corp., Class A		4,113		261,093
DXC Technology Co.		1,990		105,808
Fidelity National Information Services, Inc.		2,326		238,531
Fiserv, Inc.(A)		2,830		207,977
FleetCor Technologies, Inc.(A)		630		117,004
Gartner, Inc.(A)		646		82,585
Global Payments, Inc.		1,124		115,918
International Business Machines Corp.		6,455		733,740
Jack Henry & Associates, Inc.		549		69,459
Mastercard, Inc., Class A		6,454		1,217,547
Paychex, Inc.		2,270		147,891
PayPal Holdings, Inc.(A)		8,369		703,749
Total System Services, Inc.		1,192		96,898
VeriSign, Inc.(A)		756		112,107
Visa, Inc., Class A		12,481		1,646,743
Western Union Co.		3,145		53,654
				7,157,287
Leisure Products - 0.0%(B)
Hasbro, Inc.		827		67,194
Mattel, Inc.(A) (C)		2,451		24,485
				91,679
Life Sciences Tools & Services - 0.4%
Agilent Technologies, Inc.		2,264		152,729
Illumina, Inc.(A)		1,044		313,127
IQVIA Holdings, Inc.(A)		1,125		130,691
Mettler-Toledo International, Inc.(A)		178		100,673
PerkinElmer, Inc.		790		62,055
Thermo Fisher Scientific, Inc.		2,859		639,816
Waters Corp.(A)		538		101,494
				1,500,585
Machinery - 0.6%
Caterpillar, Inc.		4,191		532,550
Cummins, Inc.		1,049		140,188
Deere & Co.		2,285		340,853
Dover Corp.		1,039		73,717
Flowserve Corp.		929		35,321
Fortive Corp.		2,087		141,206
Illinois Tool Works, Inc.		2,168		274,664
Ingersoll-Rand PLC		1,745		159,196
PACCAR, Inc.		2,482		141,821
Parker-Hannifin Corp.		940		140,192
Pentair PLC		1,134		42,843
Snap-on, Inc.		395		57,390
Stanley Black & Decker, Inc.		1,073		128,481
Xylem, Inc.		1,276		85,135
				2,293,557

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    16

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Media - 0.5%
CBS Corp., Class B		2,391		$   104,535
Charter Communications, Inc., Class A(A)		1,252		356,782
Comcast Corp., Class A		32,246		1,097,976
Discovery, Inc., Class A(A) (C)		1,113		27,536
Discovery, Inc., Class C(A)		2,559		59,062
DISH Network Corp., Class A(A)		1,628		40,651
Interpublic Group of Cos., Inc.		2,730		56,320
News Corp., Class A		2,736		31,054
News Corp., Class B		879		10,152
Omnicom Group, Inc.		1,592		116,598
				1,900,666
Metals & Mining - 0.1%
Freeport-McMoRan, Inc.		10,292		106,111
Newmont Mining Corp.		3,783		131,081
Nucor Corp.		2,230		115,536
				352,728
Multi-Utilities - 0.4%
Ameren Corp.		1,735		113,174
CenterPoint Energy, Inc.		3,560		100,499
CMS Energy Corp.		2,012		99,896
Consolidated Edison, Inc.		2,212		169,130
Dominion Energy, Inc.		5,340		381,596
DTE Energy Co.		1,292		142,508
NiSource, Inc.		2,580		65,403
Public Service Enterprise Group, Inc.		3,590		186,859
Sempra Energy		1,944		210,321
WEC Energy Group, Inc.		2,241		155,212
				1,624,598
Multiline Retail - 0.2%
Dollar General Corp.		1,867		201,785
Dollar Tree, Inc.(A)		1,690		152,641
Kohl’s Corp.		1,173		77,817
Macy’s, Inc.		2,184		65,039
Nordstrom, Inc.		808		37,661
Target Corp.		3,706		244,930
				779,873
Oil, Gas & Consumable Fuels - 1.9%
Anadarko Petroleum Corp.		3,582		157,035
Apache Corp.		2,696		70,770
Cabot Oil & Gas Corp.		3,062		68,436
Chevron Corp.		13,571		1,476,389
Cimarex Energy Co.		679		41,860
Concho Resources, Inc.(A)		1,422		146,167
ConocoPhillips		8,177		509,836
Devon Energy Corp.		3,325		74,945
Diamondback Energy, Inc.		1,096		101,599
EOG Resources, Inc.		4,119		359,218
Exxon Mobil Corp.		30,071		2,050,541
Hess Corp.		1,767		71,564
HollyFrontier Corp.		1,132		57,868
Kinder Morgan, Inc.		13,481		207,338
Marathon Oil Corp.		5,904		84,663
Marathon Petroleum Corp.		4,907		289,562
Newfield Exploration Co.(A)		1,423		20,861
Noble Energy, Inc.		3,408		63,934
Occidental Petroleum Corp.		5,363		329,181

	Shares		Value
COMMON STOCKS (continued)
Oil, Gas & Consumable Fuels (continued)
ONEOK, Inc.		2,922		$   157,642
Phillips 66		3,013		259,570
Pioneer Natural Resources Co.		1,211		159,271
Valero Energy Corp.		3,014		225,960
Williams Cos., Inc.		8,598		189,586
				7,173,796
Personal Products - 0.1%
Coty, Inc., Class A		3,201		20,999
Estee Lauder Cos., Inc., Class A		1,562		203,216
				224,215
Pharmaceuticals - 2.0%
Allergan PLC		2,252		301,002
Bristol-Myers Squibb Co.		11,593		602,604
Eli Lilly & Co.		6,696		774,861
Johnson & Johnson		19,049		2,458,274
Merck & Co., Inc.		18,469		1,411,216
Mylan NV(A)		3,662		100,339
Nektar Therapeutics(A)		1,229		40,397
Perrigo Co. PLC		888		34,410
Pfizer, Inc.		41,056		1,792,094
Zoetis, Inc.		3,412		291,863
				7,807,060
Professional Services - 0.1%
Equifax, Inc.		856		79,719
IHS Markit, Ltd.(A)		2,548		122,227
Nielsen Holdings PLC		2,521		58,815
Robert Half International, Inc.		863		49,364
Verisk Analytics, Inc.(A)		1,169		127,468
				437,593
Real Estate Management & Development - 0.0%(B)
CBRE Group, Inc., Class A(A)		2,252		90,170
Road & Rail - 0.4%
CSX Corp.		5,698		354,017
JB Hunt Transport Services, Inc.		620		57,685
Kansas City Southern		722		68,915
Norfolk Southern Corp.		1,934		289,210
Union Pacific Corp.		5,233		723,357
				1,493,184
Semiconductors & Semiconductor Equipment - 1.4%
Advanced Micro Devices, Inc.(A)		6,247		115,320
Analog Devices, Inc.		2,629		225,647
Applied Materials, Inc.		6,982		228,591
Broadcom, Inc.		2,937		746,820
Intel Corp.		32,416		1,521,283
KLA-Tencor Corp.		1,087		97,276
Lam Research Corp.		1,102		150,059
Maxim Integrated Products, Inc.		1,968		100,073
Microchip Technology, Inc.		1,680		120,826
Micron Technology, Inc.(A)		7,956		252,444
NVIDIA Corp.		4,333		578,455
Qorvo, Inc.(A)		887		53,868
QUALCOMM, Inc.		8,609		489,938
Skyworks Solutions, Inc.		1,261		84,512
Texas Instruments, Inc.		6,822		644,679
Xilinx, Inc.		1,797		153,050
				5,562,841

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    17

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Software - 2.4%
Adobe, Inc.(A)		3,467		$   784,374
ANSYS, Inc.(A)		593		84,763
Autodesk, Inc.(A)		1,556		200,117
Cadence Design Systems, Inc.(A)		2,004		87,134
Citrix Systems, Inc.		909		93,136
Fortinet, Inc.(A)		1,029		72,473
Intuit, Inc.		1,843		362,795
Microsoft Corp.		54,895		5,575,685
Oracle Corp.		18,098		817,125
Red Hat, Inc.(A)		1,255		220,428
salesforce.com, Inc.(A)		5,433		744,158
Symantec Corp.		4,538		85,746
Synopsys, Inc.(A)		1,060		89,294
				9,217,228
Specialty Retail - 0.9%
Advance Auto Parts, Inc.		518		81,564
AutoZone, Inc.(A)		179		150,063
Best Buy Co., Inc.		1,663		88,073
CarMax, Inc.(A)		1,240		77,785
Foot Locker, Inc.		816		43,411
Gap, Inc.		1,517		39,078
Home Depot, Inc.		8,023		1,378,512
L Brands, Inc.		1,622		41,637
Lowe’s Cos., Inc.		5,703		526,729
O’Reilly Automotive, Inc.(A)		569		195,924
Ross Stores, Inc.		2,652		220,646
Tiffany & Co.		771		62,073
TJX Cos., Inc.		8,790		393,265
Tractor Supply Co.		867		72,342
Ulta Beauty, Inc.(A)		400		97,936
				3,469,038
Technology Hardware, Storage & Peripherals - 1.5%
Apple, Inc.		32,019		5,050,677
Hewlett Packard Enterprise Co.		10,107		133,513
HP, Inc.		11,239		229,950
NetApp, Inc.		1,789		106,750
Seagate Technology PLC		1,850		71,392
Western Digital Corp.		2,056		76,010
Xerox Corp.		1,472		29,087
				5,697,379
Textiles, Apparel & Luxury Goods - 0.3%
Hanesbrands, Inc.		2,562		32,102
Michael Kors Holdings, Ltd.(A)		1,067		40,461
NIKE, Inc., Class B		9,042		670,374
PVH Corp.		538		50,007
Ralph Lauren Corp.		387		40,039
Tapestry, Inc.		2,058		69,457
Under Armour, Inc., Class A(A) (C)		1,333		23,554
Under Armour, Inc., Class C(A)		1,366		22,088
VF Corp.		2,311		164,867
				��
				1,112,949
Tobacco - 0.4%
Altria Group, Inc.		13,346		659,159
Philip Morris International, Inc.		11,041		737,097
				1,396,256

	Shares		Value
COMMON STOCKS (continued)
Trading Companies & Distributors - 0.1%
Fastenal Co.		2,039		$   106,619
United Rentals, Inc.(A)		576		59,057
WW Grainger, Inc.		324		91,485
				257,161
Water Utilities - 0.0%(B)
American Water Works Co., Inc.		1,283		116,458
Total Common Stocks (Cost $150,485,676)				149,444,913
	Principal		Value
U.S. GOVERNMENT OBLIGATION - 60.0%
U.S. Treasury - 60.0%
U.S. Treasury Note 2.63%, 12/31/2023		$  230,947,000		232,155,777
Total U.S. Government Obligation (Cost $231,651,172)				232,155,777
	Shares		Value
OTHER INVESTMENT COMPANY - 0.0%(B)
Securities Lending Collateral - 0.0%(B)
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 2.35%(D)		123,723		123,723
Total Other Investment Company (Cost $123,723)				123,723
	Principal		Value
REPURCHASE AGREEMENT - 0.3%
Fixed Income Clearing Corp., 1.45% (D), dated 12/31/2018, to be repurchased at $1,304,959 on 01/02/2019. Collateralized by a U.S. Government Obligation, 2.75%, due 06/30/2025, and with a value of $1,333,799.		$  1,304,854		1,304,854
Total Repurchase Agreement (Cost $1,304,854)				1,304,854
Total Investments (Cost $383,565,425)				383,029,267
Net Other Assets (Liabilities) - 1.0%				3,728,911
Net Assets - 100.0%				$  386,758,178

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    18

DeltaShares^® S&P 500 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

FUTURES CONTRACTS:
Description	Long/Short		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation		Unrealized Depreciation
5-Year U.S. Treasury Note		Long		11		03/29/2019	$	1,261,237	$	1,261,563	$	326	$	—
S&P 500®E-Mini Index		Long		31		03/15/2019		3,818,553		3,883,060		64,507		—
Total											$	64,833	$	—

SECURITY VALUATION:

Valuation Inputs^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	149,444,913	$	—	$	—	$	149,444,913
U.S. Government Obligation		—		232,155,777		—		232,155,777
Other Investment Company		123,723		—		—		123,723
Repurchase Agreement		—		1,304,854		—		1,304,854
Total Investments	$	149,568,636	$	233,460,631	$	—	$	383,029,267
Other Financial Instruments
Futures Contracts(F)	$	64,833	$	—	$	—	$	64,833
Total Other Financial Instruments	$	64,833	$	—	$	—	$	64,833

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $120,706. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(D)	Rates disclosed reflect the yields at December 31, 2018.
(E)	There were no transfers in or out of Level 3 during the year ended December 31, 2018. Please reference the Security Valuation section of the Notes to Financial Statements for more information regarding security valuation and pricing inputs.
(F)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    19

DeltaShares^® S&P 600 Managed Risk ETF

(unaudited)

MARKET ENVIRONMENT

After a stellar performance in 2017, equities around the globe posed a major challenge to investors in 2018. It was the first calendar year since 2015 to bring net losses to global benchmark MSCI ACWIex-U.S. Index, and the first year since 2008 to bring negative returns to the S&P 500^®. Throughout the year, investor outlook was plagued with political risks, worries regarding global trade, the U.S. Federal Reserve (“Fed”) tightening program in the U.S., and general signs of weakening global economic growth.

The turmoil kicked off in February with a sharpsell-off in U.S. markets that included the largest eversingle-day point drop in the Dow Jones Industrial Average (“Dow”), and took most major market indices into sharp drawdowns. However, by the second half of the month, equity markets were on the mend, and the S&P 500^® recovered half its losses bymid-February. Regardless, the February drawdown brought about a markedly higher regime for volatility, which set the tone for the rest of the year.

Equities recovered modestly in the second quarter, but exhibited declining volatility, and the third quarter was a generally positive quarter, with the exception of emerging markets. By contrast, the fourth quarter brought most equities to the brink of bear market territory, and reinforced fears that centered on slowing global growth and trade disputes between the U.S. and China. After dovish comments from the Fed, U.S. equities staged a record breaking rally on December 26th, including a 4.96% return for the S&P 500^®. Fixed income benefited from safe haven buying in the fourth quarter, and erased much of the losses from earlier in the year, leaving major indices flat to negative for the year.

PERFORMANCE OVERVIEW

For the year ended December 31, 2018, the DeltaShares^® S&P 600 Managed Risk ETF (NAV) returned-5.47%. By comparison, the Underlying Index returned-4.94% and the S&P SmallCap 600^® Index returned-8.48%.

The Fund’s performance reflects annual operating expenses of the Fund, including management fees, brokerage expenses, and other fees and expenses. Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

STRATEGY REVIEW

The DeltaShares^® S&P 600 Managed Risk ETF (the “Fund”) seeks to track the investment results, before fees and expenses, of the S&P 600 Managed Risk 2.0 Index (the “Underlying Index”).

The Fund seeks to achieve this investment objective by holding a portfolio of securities that are included in the Underlying Index, including common stocks, U.S. Treasury bonds, and/or cash. The Underlying Index is designed to simulate, through a rules-based methodology, a dynamic portfolio with the aim of both managing the volatility of the Underlying Index and limiting losses from the Underlying Index’s equity exposure due to severe sustained market declines. The Underlying Index seeks to achieve these objectives by allocating weightings among the S&P SmallCap 600^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The Fund may also use derivatives in an effort to gain exposure to underlying securities and markets in a more efficient manner or optimize the execution processes and costs for portfolio transitions. Under normal circumstances, the Fund uses a replication strategy and generally expects to invest in substantially all of the securities in the Underlying Index.

During the period, the largest contributors to the Fund’s absolute total return were equities within the health care equity sector as well as U.S. Treasury bonds. Equities within the communication services sector also contributed modestly to performance. The largest detractors were equities within the industrials, information technology and energy sectors.

During the fiscal year, the Fund utilized derivatives. These positions detracted from performance.

Blake Graves, CFA

Charles Lowery

Louis Ng

Co-Portfolio Managers

Milliman Financial Risk Management LLC

Asset Allocation	Percentage of Net Assets
U.S. Government Obligation		66.3	%
Common Stocks		32.5
Other Investment Company		1.4
Repurchase Agreement		0.4
Net Other Assets (Liabilities) ^		(0.6	)
Total		100.0	%

^ The Net Other Assets (Liabilities) category may include, but is not limited to, reverse repurchase agreements, forward foreign currency contracts, futures contracts, swap agreements, written options and swaptions, and cash collateral.

Allocations are subject to change.

Transamerica ETF Trust Annual Report 2018

Page    20

DeltaShares^® S&P 600 Managed Risk ETF

(unaudited)

Performance as of December 31, 2018
		Average Annual Total Returns						Cumulative Total Returns					Inception Date
	1 Year			10 Year or Since Inception			1 Year			10 Year or Since Inception
Fund NAV		(5.47	)%		1.89	%		(5.47	)%		2.70	%	07/31/2017
Fund Market		(5.63	)%		1.82	%		(5.63	)%		2.60	%	07/31/2017
S&P SmallCap 600® Index (A)		(8.48	)%		(0.22	)%		(8.48	)%		(0.31	)%
S&P 600® Managed Risk 2.0 Index (A)(B)(C)(D)		(4.94	)%		2.43	%		(4.94	)%		3.47	%

^(A) The S&P SmallCap 600^® Index is a market-capitalization weighted index of 600small-size U.S. companies with common stock listed on the NYSE or NASDAQ.

^(B) The S&P 600^® Managed Risk 2.0 Index is comprised of weightings amongst the S&P SmallCap 600^® Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The S&P SmallCap 600^® Managed Risk 2.0 Index rebalances on a daily basis.

^(C) The S&P U.S. Treasury Bond Current5-Year Index is aone-security index comprising the most recently issued5-year U.S. Treasury note or bond.

^(D) The S&P U.S. Treasury Bill0-3 Month Index is designed to measure the performance of U.S. Treasury bills maturing in 0 to 3 months.

The Fund’s benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested and do not include any managerial expenses. The 10 Years or the Since Inception calculation is based on the previous 10 years or since the inception date, whichever is more recent. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, a Fund’s performance is negatively impacted by these deductions. You cannot invest directly in an index.

The performance data presented represents past performance and does not guarantee future results. Performance data does not reflect the deduction of taxes that would be paid on Fund distributions or the redemption of Fund shares. The Fund’s investment return and net asset value will fluctuate. Past performance does not guarantee future results. Investors’ shares when sold may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. Please see www.deltashares.com for performance data current to the most recent month end. Fund performance is net of investment fees and Fund expenses.

Performance results do not include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles and may differ from amounts reported in the Financial Highlights.

Fund shares are bought and sold at Market Price, not Net Asset Value (“NAV”), and are not individually redeemed from the fund. Net Asset Value is an exchange-traded fund’s per-share value. The per-share dollar amount of the Fund is derived by dividing the total value of all the securities in the portfolio, less any liabilities, by the number of Fund shares outstanding. Market Price is the price at which a share can currently be traded in the market. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated.

Exchange-Traded Funds (ETFs) are subject to market risk, including the loss of principal. Because Fund Shares trade at market prices rather than at NAV, Fund Shares may trade at a price greater than NAV (premium) or less than NAV (discount). Shares of DeltaShares^® ETFs may be bought and sold throughout the day on the exchange through any brokerage account. Buying and selling shares of ETFs will result in brokerage commissions. Diversification and asset allocation may not protect against market risk or loss of principal. Investing involves risk, including the possible loss of principal. There is no guarantee the investment objective will be achieved. Small capitalization companies may be more at risk than larger capitalization companies because, among other things, they may have limited product lines, operating history, market or financial resources, or because they may depend on limited management groups. The market prices of fixed-income securities may go up or down, sometimes rapidly and unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. The principal risks include risks related to: Equity securities, index tracking, leveraging, derivatives such as futures, forwards, swaps, options, and investing in underlying exchange-traded funds. The use of derivatives may produce disproportionate gains or losses, may increase costs, and amplify risks.

Transamerica ETF Trust Annual Report 2018

Page    21

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS

At December 31, 2018

	Shares		Value
COMMON STOCKS - 32.5%
Aerospace & Defense - 0.8%
AAR Corp.		642		$  23,972
Aerojet Rocketdyne Holdings, Inc.(A)		1,420		50,027
Aerovironment, Inc.(A)		420		28,539
Axon Enterprise, Inc.(A)		1,152		50,400
Cubic Corp.		563		30,256
Engility Holdings, Inc.(A)		357		10,160
Mercury Systems, Inc.(A)		954		45,115
Moog, Inc., Class A		640		49,587
National Presto Industries, Inc.		99		11,575
Triumph Group, Inc.		982		11,293
				310,924
Air Freight & Logistics - 0.2%
Atlas Air Worldwide Holdings, Inc.(A)		504		21,264
Echo Global Logistics, Inc.(A)		563		11,446
Forward Air Corp.		576		31,593
Hub Group, Inc., Class A(A)		662		24,540
				88,843
Airlines - 0.2%
Allegiant Travel Co.		252		25,256
Hawaiian Holdings, Inc.		974		25,723
SkyWest, Inc.		1,023		45,493
				96,472
Auto Components - 0.7%
American Axle & Manufacturing Holdings, Inc.(A)		2,201		24,431
Cooper Tire & Rubber Co.		987		31,910
Cooper-Standard Holdings, Inc.(A)		326		20,251
Dorman Products, Inc.(A)		573		51,581
Fox Factory Holding Corp.(A)		749		44,094
Garrett Motion, Inc.(A) (B)		1,459		18,004
Gentherm, Inc.(A)		688		27,506
LCI Industries		497		33,199
Motorcar Parts of America, Inc.(A)		373		6,207
Standard Motor Products, Inc.		398		19,275
Superior Industries International, Inc.		454		2,184
				278,642
Automobiles - 0.0%(C)
Winnebago Industries, Inc.		572		13,848
Banks - 3.1%
Ameris Bancorp		786		24,893
Banc of California, Inc.		841		11,194
Banner Corp.		621		33,211
Berkshire Hills Bancorp, Inc.		797		21,495
Boston Private Financial Holdings, Inc.		1,663		17,578
Brookline Bancorp, Inc.		1,586		21,919
Central Pacific Financial Corp.		575		14,001
City Holding Co.		328		22,169
Columbia Banking System, Inc.		1,444		52,403
Community Bank System, Inc.		1,009		58,825
Customers Bancorp, Inc.(A)		574		10,447
CVB Financial Corp.		2,019		40,844
Eagle Bancorp, Inc.(A)		623		30,346
Fidelity Southern Corp.		435		11,319
First BanCorp		4,281		36,817
First Commonwealth Financial Corp.		1,959		23,665
First Financial Bancorp		1,930		45,780
First Financial Bankshares, Inc.(B)		1,335		77,016

	Shares		Value
COMMON STOCKS (continued)
Banks (continued)
First Midwest Bancorp, Inc.		2,097		$   41,542
Franklin Financial Network, Inc.(A)		240		6,329
Glacier Bancorp, Inc.		1,666		66,007
Great Western Bancorp, Inc.		1,136		35,500
Hanmi Financial Corp.		626		12,332
Heritage Financial Corp.		654		19,437
Hope Bancorp, Inc.		2,411		28,594
Independent Bank Corp.		553		38,881
LegacyTexas Financial Group, Inc.		889		28,528
National Bank Holdings Corp., Class A		509		15,713
NBT Bancorp, Inc.		861		29,782
OFG Bancorp		859		14,139
Old National Bancorp		2,968		45,707
Opus Bank		426		8,345
Pacific Premier Bancorp, Inc.(A)		886		22,611
Preferred Bank		275		11,921
S&T Bancorp, Inc.		690		26,110
Seacoast Banking Corp. of Florida(A)		1,010		26,280
ServisFirst Bancshares, Inc.		903		28,779
Simmons First National Corp., Class A		1,824		44,013
Southside Bancshares, Inc.		651		20,669
Tompkins Financial Corp.		244		18,302
Triumph Bancorp, Inc.(A)		476		14,137
United Community Banks, Inc.		1,561		33,499
Veritex Holdings, Inc.(A)		890		19,028
Westamerica Bancorporation(B)		527		29,343
				1,239,450
Beverages - 0.1%
Coca-Cola Bottling Co. Consolidated		91		16,142
MGP Ingredients, Inc.(B)		249		14,205
				30,347
Biotechnology - 0.7%
Acorda Therapeutics, Inc.(A)		778		12,121
AMAG Pharmaceuticals, Inc.(A)		681		10,344
Cytokinetics, Inc.(A)		1,078		6,813
Eagle Pharmaceuticals, Inc.(A)		217		8,743
Emergent BioSolutions, Inc.(A)		884		52,404
Enanta Pharmaceuticals, Inc.(A)		310		21,957
Momenta Pharmaceuticals, Inc.(A)		1,892		20,888
Myriad Genetics, Inc.(A)		1,473		42,820
Progenics Pharmaceuticals, Inc.(A)		1,666		6,997
REGENXBIO, Inc.(A)		593		24,876
Repligen Corp.(A)		769		40,557
Spectrum Pharmaceuticals, Inc.(A)		2,002		17,518
Vanda Pharmaceuticals, Inc.(A)		1,034		27,019
				293,057
Building Products - 0.7%
AAON, Inc.		801		28,083
American Woodmark Corp.(A)		303		16,871
Apogee Enterprises, Inc.		555		16,567
Gibraltar Industries, Inc.(A)		632		22,493
Griffon Corp.		666		6,960
Insteel Industries, Inc.		360		8,741
Patrick Industries, Inc.(A)		449		13,295
PGT Innovations, Inc.(A)		1,142		18,100
Quanex Building Products Corp.		693		9,418
Simpson Manufacturing Co., Inc.		815		44,116

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    22

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Building Products (continued)
Trex Co., Inc.(A)		1,158		$   68,739
Universal Forest Products, Inc.		1,215		31,541
				284,924
Capital Markets - 0.4%
Blucora, Inc.(A)		945		25,175
Donnelley Financial Solutions, Inc.(A)		672		9,428
Greenhill & Co., Inc.		344		8,394
INTL. FCStone, Inc.(A)		313		11,450
Investment Technology Group, Inc.		652		19,716
Piper Jaffray Cos.		292		19,225
Virtus Investment Partners, Inc.		141		11,200
Waddell & Reed Financial, Inc., Class A		1,544		27,915
WisdomTree Investments, Inc.		2,292		15,242
				147,745
Chemicals - 0.9%
AdvanSix, Inc.(A)		587		14,288
American Vanguard Corp.		526		7,990
Balchem Corp.		636		49,831
FutureFuel Corp.		509		8,073
Hawkins, Inc.		190		7,780
HB Fuller Co.		999		42,627
Ingevity Corp.(A)		827		69,212
Innophos Holdings, Inc.		387		9,493
Innospec, Inc.		481		29,706
Koppers Holdings, Inc.(A)		404		6,884
Kraton Corp.(A)		630		13,759
LSB Industries, Inc.(A)		400		2,208
Quaker Chemical Corp.		263		46,738
Rayonier Advanced Materials, Inc.		1,006		10,714
Stepan Co.		399		29,526
Tredegar Corp.		503		7,978
				356,807
Commercial Services & Supplies - 0.8%
ABM Industries, Inc.		1,298		41,679
Brady Corp., Class A		964		41,895
Essendant, Inc.		647		8,139
Interface, Inc.		1,173		16,715
LSC Communications, Inc.		657		4,599
Matthews International Corp., Class A		632		25,672
Mobile Mini, Inc.		881		27,972
Multi-Color Corp.		275		9,650
R.R. Donnelley & Sons Co.		1,387		5,493
Team, Inc.(A) (B)		593		8,688
Tetra Tech, Inc.		1,091		56,481
UniFirst Corp.		304		43,493
US Ecology, Inc.		434		27,333
Viad Corp.		401		20,086
				337,895
Communications Equipment - 0.5%
ADTRAN, Inc.		939		10,085
Applied Optoelectronics, Inc.(A) (B)		371		5,725
CalAmp Corp.(A)		685		8,912
Comtech Telecommunications Corp.		471		11,464
Digi International, Inc.(A)		541		5,459
Extreme Networks, Inc.(A)		2,332		14,225
Finisar Corp.(A)		2,314		49,982

	Shares		Value
COMMON STOCKS (continued)
Communications Equipment (continued)
Harmonic, Inc.(A)		1,709		$   8,066
NETGEAR, Inc.(A)		621		32,311
Viavi Solutions, Inc.(A)		4,502		45,245
				191,474
Construction & Engineering - 0.2%
Aegion Corp.(A)		637		10,396
Arcosa, Inc.(A)		961		26,610
Comfort Systems USA, Inc.		732		31,974
MYR Group, Inc.(A)		326		9,183
Orion Group Holdings, Inc.(A)		571		2,450
				80,613
Construction Materials - 0.0%(C)
US Concrete, Inc.(A) (B)		315		11,113
Consumer Finance - 0.5%
Encore Capital Group, Inc.(A) (B)		505		11,868
Enova International, Inc.(A)		675		13,136
EZCORP, Inc., Class A(A)		1,017		7,861
FirstCash, Inc.		864		62,510
Green Dot Corp., Class A(A)		935		74,351
PRA Group, Inc.(A)		893		21,763
World Acceptance Corp.(A)		132		13,498
				204,987
Containers & Packaging - 0.0%(C)
Myers Industries, Inc.		697		10,532
Distributors - 0.1%
Core-Mark Holding Co., Inc.		901		20,948
Diversified Consumer Services - 0.2%
American Public Education, Inc.(A)		324		9,221
Career Education Corp.(A)		1,375		15,703
Regis Corp.(A)		655		11,102
Strategic Education, Inc.		428		48,544
				84,570
Diversified Telecommunication Services - 0.4%
ATN International, Inc.		214		15,308
Cincinnati Bell, Inc.(A)		989		7,694
Cogent Communications Holdings, Inc.		824		37,253
Consolidated Communications Holdings, Inc.		1,404		13,872
Frontier Communications Corp.(B)		2,080		4,950
Iridium Communications, Inc.(A)		1,909		35,221
Vonage Holdings Corp.(A)		4,344		37,923
				152,221
Electric Utilities - 0.1%
E.I. Paso Electric Co.		802		40,204
Electrical Equipment - 0.1%
AZZ, Inc.		513		20,704
Encore Wire Corp.		411		20,624
Powell Industries, Inc.		172		4,302
Vicor Corp.(A)		319		12,055
				57,685
Electronic Equipment, Instruments & Components - 1.3%
Anixter International, Inc.(A)		567		30,794
Badger Meter, Inc.		574		28,246
Bel Fuse, Inc., Class B		198		3,647
Benchmark Electronics, Inc.		861		18,236

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    23

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Electronic Equipment, Instruments & Components (continued)
Control4 Corp.(A)		526		$   9,258
CTS Corp.		652		16,880
Daktronics, Inc.		778		5,757
Electro Scientific Industries, Inc.(A)		676		20,253
ePlus, Inc.(A)		270		19,216
Fabrinet(A)		726		37,251
FARO Technologies, Inc.(A)		340		13,818
II-VI, Inc.(A)		1,178		38,238
Insight Enterprises, Inc.(A)		699		28,484
Itron, Inc.(A)		660		31,211
Kemet Corp.		1,132		19,855
Knowles Corp.(A)		1,778		23,665
Methode Electronics, Inc.		729		16,978
MTS Systems Corp.		352		14,126
OSI Systems, Inc.(A)		333		24,409
Park Electrochemical Corp.		380		6,867
Plexus Corp.(A)		620		31,669
Rogers Corp.(A)		362		35,860
Sanmina Corp.(A)		1,345		32,361
ScanSource, Inc.(A)		505		17,362
TTM Technologies, Inc.(A)		1,819		17,699
				542,140
Energy Equipment & Services - 0.6%
Archrock, Inc.		2,549		19,092
Bristow Group, Inc.(A) (B)		706		1,716
C&J Energy Services, Inc.(A)		1,234		16,659
CARBO Ceramics, Inc.(A) (B)		421		1,465
Era Group, Inc.(A)		403		3,522
Exterran Corp.(A)		620		10,974
Geospace Technologies Corp.(A)		268		2,763
Gulf Island Fabrication, Inc.		271		1,957
Helix Energy Solutions Group, Inc.(A)		2,745		14,850
KLX Energy Services Holdings, Inc.(A)		441		10,341
Matrix Service Co.(A)		534		9,580
Nabors Industries, Ltd.		6,417		12,834
Newpark Resources, Inc.(A)		1,790		12,297
Noble Corp. PLC(A)		4,864		12,744
Oil States International, Inc.(A)		1,182		16,879
Pioneer Energy Services Corp.(A)		1,541		1,895
ProPetro Holding Corp.(A)		1,449		17,852
SEACOR Holdings, Inc.(A)		338		12,506
Superior Energy Services, Inc.(A)		3,045		10,201
TETRA Technologies, Inc.(A)		2,478		4,163
Unit Corp.(A)		1,065		15,208
US Silica Holdings, Inc.(B)		1,528		15,555
				225,053
Entertainment - 0.0%(C)
Marcus Corp.		394		15,563
Equity Real Estate Investment Trusts - 2.0%
Acadia Realty Trust		1,607		38,182
Agree Realty Corp.		680		40,202
American Assets Trust, Inc.		745		29,927
Armada Hoffler Properties, Inc.		978		13,751
CareTrust REIT, Inc.		1,653		30,514
CBL & Associates Properties, Inc.(B)		3,403		6,534
Cedar Realty Trust, Inc.		1,739		5,460
Chatham Lodging Trust		917		16,213

	Shares		Value
COMMON STOCKS (continued)
Equity Real Estate Investment Trusts (continued)
Chesapeake Lodging Trust		1,190		$   28,977
Community Healthcare Trust, Inc.		347		10,004
DiamondRock Hospitality Co.		4,098		37,210
Easterly Government Properties, Inc.		1,199		18,800
EastGroup Properties, Inc.		710		65,128
Four Corners Property Trust, Inc.		1,335		34,977
Franklin Street Properties Corp.		2,113		13,164
Getty Realty Corp.		663		19,499
Global Net Lease, Inc.		1,499		26,412
Government Properties Income Trust		3,779		25,962
Hersha Hospitality Trust		715		12,541
Independence Realty Trust, Inc.		1,752		16,083
iStar, Inc.		1,340		12,288
Kite Realty Group Trust		1,650		23,249
Lexington Realty Trust		4,144		34,022
LTC Properties, Inc.		782		32,594
National Storage Affiliates Trust		1,115		29,503
Pennsylvania Real Estate Investment Trust(B)		1,264		7,508
PS Business Parks, Inc.		393		51,483
Retail Opportunity Investments Corp.		2,246		35,666
RPT Realty		1,580		18,881
Saul Centers, Inc.		227		10,719
Summit Hotel Properties, Inc.		2,065		20,092
Universal Health Realty Income Trust		249		15,281
Urstadt Biddle Properties, Inc., Class A		588		11,301
Washington Prime Group, Inc.(B)		3,667		17,822
Whitestone REIT		784		9,612
				819,561
Food & Staples Retailing - 0.1%
Andersons, Inc.		519		15,513
Chefs’ Warehouse, Inc.(A)		455		14,551
SpartanNash Co.		708		12,163
United Natural Foods, Inc.(A)		1,001		10,601
				52,828
Food Products - 0.5%
B&G Foods, Inc.(B)		1,299		37,554
Cal-Maine Foods, Inc.		596		25,211
Calavo Growers, Inc.		308		22,472
Darling Ingredients, Inc.(A)		3,245		62,434
Dean Foods Co.		1,801		6,862
J&J Snack Foods Corp.		296		42,798
John B Sanfilippo & Son, Inc.		172		9,573
Seneca Foods Corp., Class A(A)		132		3,725
				210,629
Gas Utilities - 0.4%
NorthWest Natural Holding Co.		568		34,341
South Jersey Industries, Inc.		1,685		46,843
Spire, Inc.		999		74,006
				155,190
Health Care Equipment & Supplies - 1.0%
AngioDynamics, Inc.(A)		732		14,735
Anika Therapeutics, Inc.(A)		280		9,411
CONMED Corp.		510		32,742
CryoLife, Inc.(A)		670		19,014
Cutera, Inc.(A)		274		4,663
Heska Corp.(A)		135		11,623

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    24

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Health Care Equipment & Supplies (continued)
Integer Holdings Corp.(A)		587		$   44,765
Invacare Corp.		654		2,812
Lantheus Holdings, Inc.(A)		758		11,863
LeMaitre Vascular, Inc.		313		7,399
Meridian Bioscience, Inc.		836		14,513
Merit Medical Systems, Inc.(A)		1,081		60,331
Natus Medical, Inc.(A)		666		22,664
Neogen Corp.(A)		1,025		58,425
OraSure Technologies, Inc.(A)		1,207		14,098
Orthofix Medical, Inc.(A)		373		19,579
Surmodics, Inc.(A)		264		12,477
Tactile Systems Technology, Inc.(A)		331		15,077
Varex Imaging Corp.(A)		751		17,784
				393,975
Health Care Providers & Services - 1.1%
Addus HomeCare Corp.(A)		199		13,508
Amedisys, Inc.(A)		572		66,987
AMN Healthcare Services, Inc.(A)		924		52,354
BioTelemetry, Inc.(A)		656		39,176
Community Health Systems, Inc.(A) (B)		2,292		6,463
CorVel Corp.(A)		181		11,171
Cross Country Healthcare, Inc.(A)		714		5,234
Diplomat Pharmacy, Inc.(A) (B)		1,115		15,008
Ensign Group, Inc.		969		37,588
LHC Group, Inc.(A)		575		53,981
Magellan Health, Inc.(A)		478		27,193
Owens & Minor, Inc.		1,227		7,767
Providence Service Corp.(A)		217		13,024
Quorum Health Corp.(A)		503		1,454
Select Medical Holdings Corp.(A)		2,134		32,757
Tivity Health, Inc.(A)		807		20,022
US Physical Therapy, Inc.		250		25,587
				429,274
Health Care Technology - 0.4%
Computer Programs & Systems, Inc.		236		5,924
HealthStream, Inc.		503		12,147
HMS Holdings Corp.(A)		1,654		46,527
NextGen Healthcare, Inc.(A)		943		14,287
Omnicell, Inc.(A)		781		47,828
Tabula Rasa HealthCare, Inc.(A)		335		21,360
				148,073
Hotels, Restaurants & Leisure - 0.6%
Belmond, Ltd., Class A(A)		1,766		44,203
BJ’s Restaurants, Inc.		420		21,239
Chuy’s Holdings, Inc.(A)		334		5,925
Dave & Buster’s Entertainment, Inc.		765		34,088
Dine Brands Global, Inc.		349		23,502
El Pollo Loco Holdings, Inc.(A)		439		6,660
Fiesta Restaurant Group, Inc.(A)		462		7,166
Monarch Casino & Resort, Inc.(A)		233		8,887
Red Robin Gourmet Burgers, Inc.(A)		256		6,840
Ruth’s Hospitality Group, Inc.		565		12,842
Shake Shack, Inc., Class A(A)		509		23,119
Wingstop, Inc.		577		37,038
				231,509

	Shares		Value
COMMON STOCKS (continued)
Household Durables - 0.6%
Cavco Industries, Inc.(A)		169		$   22,034
Ethan Allen Interiors, Inc.		487		8,566
Installed Building Products, Inc.(A)		431		14,521
iRobot Corp.(A) (B)		546		45,722
La-Z-Boy, Inc.		923		25,576
LGI Homes, Inc.(A) (B)		367		16,596
M/I Homes, Inc.(A)		550		11,561
MDC Holdings, Inc.		893		25,102
Meritage Homes Corp.(A)		740		27,173
TopBuild Corp.(A)		697		31,365
Universal Electronics, Inc.(A)		272		6,876
William Lyon Homes, Class A(A)		649		6,938
				242,030
Household Products - 0.2%
Central Garden & Pet Co.(A)		203		6,993
Central Garden & Pet Co., Class A(A)		807		25,219
WD-40 Co.		273		50,030
				82,242
Industrial Conglomerates - 0.1%
Raven Industries, Inc.		709		25,659
Insurance - 1.2%
Ambac Financial Group, Inc.(A)		893		15,395
American Equity Investment Life Holding Co.		1,780		49,733
AMERISAFE, Inc.		380		21,542
eHealth, Inc.(A)		321		12,333
Employers Holdings, Inc.		646		27,113
HCI Group, Inc.		143		7,266
Horace Mann Educators Corp.		807		30,222
James River Group Holdings, Ltd.		590		21,559
Maiden Holdings, Ltd.		1,357		2,239
Navigators Group, Inc.		458		31,827
ProAssurance Corp.		1,057		42,872
RLI Corp.		772		53,260
Safety Insurance Group, Inc.		286		23,398
Selective Insurance Group, Inc.		1,161		70,751
Stewart Information Services Corp.		468		19,375
Third Point Reinsurance, Ltd.(A)		1,466		14,132
United Fire Group, Inc.		420		23,289
United Insurance Holdings Corp.		424		7,047
Universal Insurance Holdings, Inc.		633		24,003
				497,356
Interactive Media & Services - 0.0%(C)
QuinStreet, Inc.(A)		758		12,302
Internet & Direct Marketing Retail - 0.3%
Liquidity Services, Inc.(A)		522		3,221
Nutrisystem, Inc.		580		25,450
PetMed Express, Inc.(B)		407		9,467
Shutterfly, Inc.(A)		662		26,652
Shutterstock, Inc.		366		13,180
Stamps.com, Inc.(A)		335		52,139
				130,109
IT Services - 0.7%
Cardtronics PLC, Class A(A)		736		19,136
CSG Systems International, Inc.		657		20,873
EVERTEC, Inc.		1,190		34,153
ExlService Holdings, Inc.(A)		675		35,518

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    25

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
IT Services (continued)
ManTech International Corp., Class A		523		$   27,350
NIC, Inc.		1,312		16,374
Perficient, Inc.(A)		654		14,558
Sykes Enterprises, Inc.(A)		784		19,388
Travelport Worldwide, Ltd.		2,586		40,393
TTEC Holdings, Inc.		273		7,800
Unisys Corp.(A) (B)		1,006		11,700
Virtusa Corp.(A)		542		23,084
				270,327
Leisure Products - 0.2%
Callaway Golf Co.		1,751		26,790
Nautilus, Inc.(A)		587		6,398
Sturm Ruger & Co., Inc.		344		18,308
Vista Outdoor, Inc.(A)		1,135		12,882
				64,378
Life Sciences Tools & Services - 0.2%
Cambrex Corp.(A)		661		24,959
Luminex Corp.		817		18,881
Medpace Holdings, Inc.(A)		511		27,047
				70,887
Machinery - 1.8%
Actuant Corp., Class A		1,203		25,251
Alamo Group, Inc.		190		14,691
Albany International Corp., Class A		572		35,710
Astec Industries, Inc.		449		13,555
Barnes Group, Inc.		930		49,867
Briggs & Stratton Corp.		835		10,922
Chart Industries, Inc.(A)		615		39,994
CIRCOR International, Inc.		391		8,328
EnPro Industries, Inc.		409		24,581
ESCO Technologies, Inc.		511		33,700
Federal Signal Corp.		1,187		23,621
Franklin Electric Co., Inc.		765		32,803
Greenbrier Cos., Inc.		638		25,227
Harsco Corp.(A)		1,583		31,438
Hillenbrand, Inc.		1,229		46,616
John Bean Technologies Corp.		623		44,738
Lindsay Corp.		212		20,405
Lydall, Inc.(A)		343		6,966
Mueller Industries, Inc.		1,137		26,560
Proto Labs, Inc.(A)		533		60,117
SPX Corp.(A)		855		23,949
SPX FLOW, Inc.(A)		839		25,522
Standex International Corp.		253		16,997
Tennant Co.		357		18,603
Titan International, Inc.		992		4,623
Wabash National Corp.		1,104		14,440
Watts Water Technologies, Inc., Class A		547		35,298
				714,522
Marine - 0.1%
Matson, Inc.		842		26,961
Media - 0.2%
EW Scripps Co., Class A		1,111		17,476
Gannett Co., Inc.		2,229		19,013
New Media Investment Group, Inc.		1,070		12,380

	Shares		Value
COMMON STOCKS (continued)
Media (continued)
Scholastic Corp.		547		$   22,022
TechTarget, Inc.(A)		436		5,324
				76,215
Metals & Mining - 0.2%
AK Steel Holding Corp.(A) (B)		6,219		13,993
Century Aluminum Co.(A)		967		7,069
Haynes International, Inc.		246		6,494
Kaiser Aluminum Corp.		325		29,019
Materion Corp.		399		17,951
Olympic Steel, Inc.		180		2,569
SunCoke Energy, Inc.(A)		1,276		10,910
TimkenSteel Corp.(A)		773		6,756
				94,761
Mortgage Real Estate Investment Trusts - 0.4%
Apollo Commercial Real Estate Finance, Inc.		2,216		36,918
ARMOUR Residential REIT, Inc.		834		17,097
Capstead Mortgage Corp.		1,792		11,953
Granite Point Mortgage Trust, Inc.		856		15,434
Invesco Mortgage Capital, Inc.		2,200		31,856
New York Mortgage Trust, Inc.		3,066		18,059
PennyMac Mortgage Investment Trust		1,201		22,363
Redwood Trust, Inc.		1,635		24,639
				178,319
Multi-Utilities - 0.1%
Avista Corp.		1,295		55,012
Multiline Retail - 0.0%(C)
JC Penney Co., Inc.(A) (B)		6,216		6,465
Oil, Gas & Consumable Fuels - 0.5%
Bonanza Creek Energy, Inc.(A)		368		7,607
Carrizo Oil & Gas, Inc.(A)		1,679		18,956
Cloud Peak Energy, Inc.(A)		1,493		547
CONSOL Energy, Inc.(A)		547		17,345
Denbury Resources, Inc.(A) (B)		9,076		15,520
Green Plains, Inc.		767		10,055
Gulfport Energy Corp.(A)		3,108		20,357
HighPoint Resources Corp.(A)		2,177		5,421
Laredo Petroleum, Inc.(A)		2,996		10,846
Par Pacific Holdings, Inc.(A)		552		7,827
PDC Energy, Inc.(A)		1,302		38,748
Penn Virginia Corp.(A)		264		14,272
Renewable Energy Group, Inc.(A) (B)		735		18,889
REX American Resources Corp.(A)		112		7,628
Ring Energy, Inc.(A)		1,122		5,700
SRC Energy, Inc.(A)		4,781		22,471
				222,189
Paper & Forest Products - 0.2%
Boise Cascade Co.		767		18,293
Clearwater Paper Corp.(A)		324		7,896
Neenah, Inc.		332		19,561
P.H. Glatfelter Co.		863		8,423
Schweitzer-Mauduit International, Inc.		606		15,180
				69,353
Personal Products - 0.2%
Avon Products, Inc.(A)		8,718		13,251
Inter Parfums, Inc.		340		22,294
Medifast, Inc.		236		29,505
				65,050

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    26

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Pharmaceuticals - 0.5%
Akorn, Inc.(A)		1,855		$   6,288
Amphastar Pharmaceuticals, Inc.(A)		681		13,552
ANI Pharmaceuticals, Inc.(A)		163		7,338
Assertio Therapeutics, Inc.(A)		1,260		4,549
Corcept Therapeutics, Inc.(A) (B)		2,071		27,669
Endo International PLC(A)		3,935		28,726
Innoviva, Inc.(A)		1,334		23,278
Lannett Co., Inc.(A) (B)		668		3,313
Medicines Co.(A)		1,296		24,805
Phibro Animal Health Corp., Class A		398		12,800
Supernus Pharmaceuticals, Inc.(A)		1,030		34,217
				186,535
Professional Services - 0.6%
Exponent, Inc.		1,025		51,978
Forrester Research, Inc.		202		9,029
FTI Consulting, Inc.(A)		757		50,446
Heidrick & Struggles International, Inc.		374		11,665
Kelly Services, Inc., Class A		615		12,595
Korn/Ferry International		1,117		44,166
Navigant Consulting, Inc.		839		20,178
Resources Connection, Inc.		584		8,293
TrueBlue, Inc.(A)		798		17,756
WageWorks, Inc.(A)		781		21,212
				247,318
Real Estate Management & Development - 0.1%
HFF, Inc., Class A		771		25,566
Marcus & Millichap, Inc.(A)		419		14,384
RE/MAX Holdings, Inc., Class A		350		10,763
				50,713
Road & Rail - 0.2%
ArcBest Corp.		506		17,335
Heartland Express, Inc.		936		17,129
Marten Transport, Ltd.		762		12,337
Saia, Inc.(A)		506		28,245
				75,046
Semiconductors & Semiconductor Equipment - 1.2%
Advanced Energy Industries, Inc.(A)		759		32,584
Axcelis Technologies, Inc.(A)		639		11,374
Brooks Automation, Inc.		1,415		37,045
Cabot Microelectronics Corp.		565		53,873
CEVA, Inc.(A)		432		9,543
Cohu, Inc.		802		12,888
Diodes, Inc.(A)		782		25,227
DSP Group, Inc.(A)		381		4,267
FormFactor, Inc.(A)		1,460		20,571
Ichor Holdings, Ltd.(A) (B)		450		7,335
Kopin Corp.(A) (B)		1,208		1,207
Kulicke & Soffa Industries, Inc.		1,324		26,838
MaxLinear, Inc.(A)		1,237		21,771
Nanometrics, Inc.(A)		477		13,036
PDF Solutions, Inc.(A)		547		4,611
Photronics, Inc.(A)		1,348		13,049
Power Integrations, Inc.		578		35,246
Rambus, Inc.(A)		2,138		16,399
Rudolph Technologies, Inc.(A)		629		12,876
Semtech Corp.(A)		1,297		59,493

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment (continued)
SMART Global Holdings, Inc.(A)		245		$   7,277
SolarEdge Technologies, Inc.(A) (B)		848		29,765
Ultra Clean Holdings, Inc.(A)		769		6,513
Veeco Instruments, Inc.(A)		942		6,980
Xperi Corp.		954		17,544
				487,312
Software - 0.8%
8x8, Inc.(A)		1,880		33,915
Agilysys, Inc.(A)		348		4,990
Alarm.com Holdings, Inc.(A)		691		35,842
Bottomline Technologies de, Inc.(A)		721		34,608
Ebix, Inc.(B)		444		18,897
LivePerson, Inc.(A)		1,150		21,689
MicroStrategy, Inc., Class A(A)		186		23,761
Monotype Imaging Holdings, Inc.		819		12,711
Onespan, Inc.(A)		619		8,016
Progress Software Corp.		885		31,409
Qualys, Inc.(A)		667		49,852
SPS Commerce, Inc.(A)		348		28,668
TiVo Corp.		2,442		22,979
				327,337
Specialty Retail - 1.3%
Abercrombie & Fitch Co., Class A		1,298		26,025
Asbury Automotive Group, Inc.(A)		386		25,731
Ascena Retail Group, Inc.(A)		3,424		8,594
Barnes & Noble Education, Inc.(A)		722		2,895
Barnes & Noble, Inc.		1,125		7,976
Buckle, Inc.		560		10,830
Caleres, Inc.		851		23,683
Cato Corp., Class A		450		6,422
Chico’s FAS, Inc.		2,478		13,926
Children’s Place, Inc.		319		28,739
DSW, Inc., Class A		1,344		33,197
Express, Inc.(A)		1,351		6,904
Francesca’s Holdings Corp.(A)		713		692
GameStop Corp., Class A		2,009		25,354
Genesco, Inc.(A)		398		17,631
Group 1 Automotive, Inc.		359		18,926
Guess?, Inc.		1,118		23,221
Haverty Furniture Cos., Inc.		374		7,024
Hibbett Sports, Inc.(A)		366		5,234
Kirkland’s, Inc.(A)		293		2,792
Lithia Motors, Inc., Class A		444		33,891
Lumber Liquidators Holdings, Inc.(A) (B)		564		5,369
MarineMax, Inc.(A)		450		8,240
Monro, Inc.		650		44,687
Office Depot, Inc.		10,784		27,823
Rent-A-Center, Inc.(A)		875		14,166
RH(A)		368		44,094
Shoe Carnival, Inc.(B)		198		6,635
Sleep Number Corp.(A)		655		20,783
Sonic Automotive, Inc., Class A		466		6,412
Tailored Brands, Inc.(B)		984		13,422
Tile Shop Holdings, Inc.		769		4,214
Vitamin Shoppe, Inc.(A)		308		1,460
Zumiez, Inc.(A)		372		7,131
				534,123

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    27

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Technology Hardware, Storage & Peripherals - 0.2%
3D Systems Corp.(A) (B)		2,250		$   22,882
Cray, Inc.(A)		805		17,380
Diebold Nixdorf, Inc.(B)		1,500		3,735
Electronics For Imaging, Inc.(A)		866		21,477
				65,474
Textiles, Apparel & Luxury Goods - 0.6%
Crocs, Inc.(A)		1,317		34,216
Fossil Group, Inc.(A) (B)		897		14,110
G-III Apparel Group, Ltd.(A)		827		23,065
Movado Group, Inc.		325		10,277
Oxford Industries, Inc.		334		23,727
Steven Madden, Ltd.		1,568		47,448
Unifi, Inc.(A)		286		6,532
Vera Bradley, Inc.(A)		425		3,642
Wolverine World Wide, Inc.		1,869		59,602
				222,619
Thrifts & Mortgage Finance - 0.6%
Axos Financial, Inc.(A)		1,090		27,446
Dime Community Bancshares, Inc.		611		10,375
Flagstar Bancorp, Inc.(A)		579		15,286
HomeStreet, Inc.(A)		532		11,294
Meta Financial Group, Inc.		544		10,548
NMI Holdings, Inc., Class A(A)		1,307		23,330
Northfield Bancorp, Inc.		928		12,574
Northwest Bancshares, Inc.		2,036		34,490
Oritani Financial Corp.		762		11,240
Provident Financial Services, Inc.		1,212		29,246
TrustCo Bank Corp.		1,905		13,068
Walker & Dunlop, Inc.		566		24,479
				223,376
Tobacco - 0.1%
Universal Corp.		492		26,642
Trading Companies & Distributors - 0.2%
Applied Industrial Technologies, Inc.		764		41,210
DXP Enterprises, Inc.(A)		315		8,770
Kaman Corp.		551		30,906
Veritiv Corp.(A)		250		6,242
				87,128
Water Utilities - 0.2%
American States Water Co.		724		48,537
California Water Service Group		947		45,134
				93,671

	Shares		Value
COMMON STOCKS (continued)
Wireless Telecommunication Services - 0.0%(C)
Spok Holdings, Inc.		357		$   4,734
Total Common Stocks (Cost $14,243,699)				13,093,261
CONTINGENT VALUE RIGHT - 0.0%
Chemicals - 0.0%
A. Schulman, Inc.(D) (E) (F) (G)		1,541		0
Total Contingent Value Right (Cost $2,943)				0
	Principal		Value
U.S. GOVERNMENT OBLIGATION - 66.3%
U.S. Treasury - 66.3%
U.S. Treasury Note 2.63%, 12/31/2023		$  26,553,000		26,691,978
Total U.S. Government Obligation (Cost $26,633,950)				26,691,978
	Shares		Value
OTHER INVESTMENT COMPANY - 1.4%
Securities Lending Collateral - 1.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 2.35%(H)		567,901		567,901
Total Other Investment Company (Cost $567,901)				567,901
	Principal		Value
REPURCHASE AGREEMENT - 0.4%
Fixed Income Clearing Corp., 1.45%(H), dated 12/31/2018, to be repurchased at $176,536 on 01/02/2019. Collateralized by a U.S. Government Obligation, 2.75%, due 06/30/2025, and with a value of $181,195.		$  176,522		176,522
Total Repurchase Agreement (Cost $176,522)				176,522
Total Investments (Cost $41,625,015)				40,529,662
Net Other Assets (Liabilities) - (0.6)%				(255,525	)
Net Assets - 100.0%				$  40,274,137

FUTURES CONTRACTS:

Description	Long/Short		Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
5-Year U.S. Treasury Note		Long		1		03/29/2019		$	114,659		$	114,688		$	29		$	—
E-Mini Russell 2000® Index		Long		6		03/15/2019			395,130			404,700			9,570			—
Total														$	9,599		$	—

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    28

DeltaShares^® S&P 600 Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

SECURITY VALUATION:

Valuation Inputs^(I)

	Level 1 -  Unadjusted Quoted Prices		Level 2 -  Other Significant Observable Inputs		Level 3 -  Significant Unobservable  Inputs (J)		Value
ASSETS
Investments
Common Stocks	$	13,093,261	$	—	$	—	$	13,093,261
Contingent Value Right		—		—		0		0
U.S. Government Obligation		—		26,691,978		—		26,691,978
Other Investment Company		567,901		—		—		567,901
Repurchase Agreement		—		176,522		—		176,522
Total Investments	$	13,661,162	$	26,868,500	$	0	$	40,529,662
Other Financial Instruments
Futures Contracts(K)	$	9,599	$	—	$	—	$	9,599
Total Other Financial Instruments	$	9,599	$	—	$	—	$	9,599

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $550,739. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(C)	Percentage rounds to less than 0.1% or (0.1)%.
(D)	Security deemed worthless.
(E)	Illiquid security. At December 31, 2018, the value of such securities amounted to $0, representing 0.00% of the Fund’s net assets.
(F)	Fair valued as determined in good faith in accordance with procedures established by the Board. At December 31, 2018, the value of the security is $0, representing 0.00% of the Fund’s net assets.
(G)	Security is Level 3 of the fair value hierarchy.
(H)	Rates disclosed reflect the yields at December 31, 2018.
(I)	There were no transfers in or out of Level 3 during the year ended December 31, 2018. Please reference the Security Valuation section of the Notes to Financial Statements for more information regarding security valuation and pricing inputs.
(J)	Level 3 securities were not considered significant to the Fund.
(K)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    29

DeltaShares^® S&P International Managed Risk ETF

(unaudited)

MARKET ENVIRONMENT

After a stellar performance in 2017, equities around the globe posed a major challenge to investors in 2018. It was the first calendar year since 2015 to bring net losses to global benchmark MSCI ACWIex-U.S. Index, and the first year since 2008 to bring negative returns to the S&P 500^®. Throughout the year, investor outlook was plagued with political risks, worries regarding global trade, the U.S. Federal Reserve (“Fed”) tightening program in the U.S., and general signs of weakening global economic growth.

The turmoil kicked off in February with a sharpsell-off in U.S. markets that included the largest eversingle-day point drop in the Dow Jones Industrial Average (“Dow”), and took most major market indices into sharp drawdowns. However, by the second half of the month, equity markets were on the mend, and the S&P 500^® recovered half its losses bymid-February. Regardless, the February drawdown brought about a markedly higher regime for volatility, which set the tone for the rest of the year.

Equities recovered modestly in the second quarter, but exhibited declining volatility, and the third quarter was a generally positive quarter, with the exception of emerging markets. By contrast, the fourth quarter brought most equities to the brink of bear market territory, and reinforced fears that centered on slowing global growth and trade disputes between the U.S. and China. After dovish comments from the Fed, U.S. equities staged a record breaking rally on December 26th, including a 4.96% return for the S&P 500^®. Fixed income benefited from safe haven buying in the fourth quarter, and erased much of the losses from earlier in the year, leaving major indices flat to negative for the year.

PERFORMANCE OVERVIEW

For the year ended December 31, 2018, the DeltaShares^® S&P International Managed Risk ETF (NAV) returned-13.09%. By comparison, the Underlying Index returned-12.39% and the S&P EPAC Ex. Korea LargeMidCap Index returned-13.07%.

The Fund’s performance reflects annual operating expenses of the Fund, including management fees, brokerage expenses, and other fees and expenses. Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

STRATEGY REVIEW

The DeltaShares^® International Managed Risk ETF (the “Fund”) seeks to track the investment results, before fees and expenses, of the S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index (the “Underlying Index”).

The Fund seeks to achieve this investment objective by using a sampling strategy and generally expects to invest in a subset of the securities in the Underlying Index that theSub-Adviser believes is designed to approximate the returns of the Underlying Index. The Underlying Index is designed to simulate, through a rules-based methodology, a dynamic portfolio with the aim of both managing the volatility of the Underlying Index and limiting losses from the Underlying Index’s equity exposure due to severe sustained market declines. The Underlying Index seeks to achieve these objectives by allocating weightings among the S&P EPAC Ex. Korea LargeMidCap Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The Fund may also use derivatives in an effort to gain exposure to underlying securities and markets in a more efficient manner or optimize the execution processes and costs for portfolio transitions.

During the period, the largest contributors to the Fund’s absolute total return were U.S. Treasury bonds as well as equities within the utilities sector. The largest detractors were equities within the financials, industrials and consumer discretionary sectors. The small number of companies based in China held by the Fund had a slight positive impact on performance, while the largest detractors from a country perspective were companies based in Japan, the United Kingdom and Germany.

During the fiscal year, the Fund utilized derivatives. These positions detracted from performance.

Blake Graves, CFA

Charles Lowery

Louis Ng

Co-Portfolio Managers

Milliman Financial Risk Management LLC

Asset Allocation	Percentage of Net Assets
Common Stocks		52.9	%
U.S. Government Obligation		44.1
Other Investment Company		1.5
Repurchase Agreement		0.9
Preferred Stocks		0.3
Right		0.0	*
Net Other Assets (Liabilities) ^		0.3
Total		100.0	%

* Percentage rounds to less than 0.1% or (0.1)%.

^ The Net Other Assets (Liabilities) category may include, but is not limited to, reverse repurchase agreements, forward foreign currency contracts, futures contracts, swap agreements, written options and swaptions, and cash collateral.

Allocations are subject to change.

Transamerica ETF Trust Annual Report 2018

Page    30

DeltaShares^® S&P International Managed Risk ETF

(unaudited)

Performance as of December 31, 2018
		Average Annual Total Returns						Cumulative Total Returns					Inception Date
	1 Year			10 Year or Since Inception			1 Year			10 Year or Since Inception
Fund NAV		(13.09	)%		(5.00	)%		(13.09	)%		(7.04	)%	07/31/2017
Fund Market		(12.38	)%		(4.32	)%		(12.38	)%		(6.09	)%	07/31/2017
S&P EPAC Ex. Korea LargeMidCap Index (A)		(13.07	)%		(4.84	)%		(13.07	)%		(6.81	)%
S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index (A)(B)(C)(D)		(12.39	)%		(4.31	)%		(12.39	)%		(6.08	)%

^(A) The S&P EPAC Ex. Korea LargeMidCap Index is designed to measure the performance of developed markets within the Europe and Asia Pacific regions, excluding Korea.

^(B) The S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index is comprised of weightings amongst the S&P EPAC Ex. Korea LargeMidCap Index, the S&P U.S. Treasury Bond Current5-Year Index, and the S&P U.S. Treasury Bill0-3 Month Index. The S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index rebalances on a daily basis.

^(C) The S&P U.S. Treasury Bond Current5-Year Index is aone-security index comprising the most recently issued5-year U.S. Treasury note or bond.

^(D) The S&P U.S. Treasury Bill0-3 Month Index is designed to measure the performance of U.S. Treasury bills maturing in 0 to 3 months.

The Fund’s benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume dividends and capital gains are reinvested and do not include any managerial expenses. The 10 Years or the Since Inception calculation is based on the previous 10 years or since the inception date, whichever is more recent. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, a Fund’s performance is negatively impacted by these deductions. You cannot invest directly in an index.

The performance data presented represents past performance and does not guarantee future results. Performance data does not reflect the deduction of taxes that would be paid on Fund distributions or the redemption of Fund shares. The Fund’s investment return and net asset value will fluctuate. Past performance does not guarantee future results. Investors’ shares when sold may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. Please see www.deltashares.com for performance data current to the most recent month end. Fund performance is net of investment fees and Fund expenses.

Performance results do not include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles and may differ from amounts reported in the Financial Highlights.

Fund shares are bought and sold at Market Price, not Net Asset Value (“NAV”), and are not individually redeemed from the fund. Net Asset Value is an exchange-traded fund’s per-share value. The per-share dollar amount of the Fund is derived by dividing the total value of all the securities in the portfolio, less any liabilities, by the number of Fund shares outstanding. Market Price is the price at which a share can currently be traded in the market. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated.

Exchange-Traded Funds (ETFs) are subject to market risk, including the loss of principal. Because Fund Shares trade at market prices rather than at NAV, Fund Shares may trade at a price greater than NAV (premium) or less than NAV (discount). Shares of DeltaShares^® ETFs may be bought and sold throughout the day on the exchange through any brokerage account. Buying and selling shares of ETFs will result in brokerage commissions. Diversification and asset allocation may not protect against market risk or loss of principal. Investing involves risk, including the possible loss of principal. There is no guarantee the investment objective will be achieved. Investing in securities of foreign issuers or issuers with significant exposure to foreign markets involves additional risk. Foreign countries in which the fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of investments in securities denominated in foreign currencies increases or decreases as the rates of exchange between those currencies and the U.S. dollar change. The principal risks include risks related to: Equity securities, geographic focus, index tracking, leveraging, derivatives such as futures, forwards, swaps, options, and investing in underlying exchange traded funds. The use of derivatives may produce disproportionate gains or losses, may increase costs, and amplify risks.

Transamerica ETF Trust Annual Report 2018

Page    31

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS

At December 31, 2018

	Shares		Value
COMMON STOCKS - 52.9%
Australia - 3.4%
AGL Energy, Ltd.		5,417		$  78,559
Alumina, Ltd.		12,185		19,730
Amcor, Ltd.		9,645		89,969
AMP, Ltd.		24,388		42,064
APA Group		9,741		58,290
Aristocrat Leisure, Ltd.		5,321		81,812
Atlassian Corp. PLC, Class A(A)		996		88,624
Aurizon Holdings, Ltd.		7,562		22,785
AusNet Services(B)		15,407		16,866
Australia & New Zealand Banking Group, Ltd.(B)		23,848		410,659
Bendigo & Adelaide Bank, Ltd.		4,046		30,734
BHP Group, Ltd.		26,413		636,498
BlueScope Steel, Ltd.		4,579		35,331
Boral, Ltd.		9,838		34,214
Brambles, Ltd.		13,227		94,515
Caltex Australia, Ltd.		2,171		38,943
Challenger, Ltd.		4,814		32,162
CIMIC Group, Ltd.		817		24,968
Coca-Cola Amatil, Ltd.		4,326		24,943
Cochlear, Ltd.		477		58,286
Coles Group, Ltd.(A)		9,365		77,401
Commonwealth Bank of Australia(B)		14,402		733,963
Computershare, Ltd.		4,275		51,735
Crown Resorts, Ltd.		3,140		26,217
CSL, Ltd.		3,735		486,867
Dexus, REIT		8,692		64,986
Domino’s Pizza Enterprises, Ltd.		529		15,139
Flight Centre Travel Group, Ltd.(B)		489		14,775
Fortescue Metals Group, Ltd.		14,055		41,459
Goodman Group, REIT		13,573		101,574
GPT Group, REIT		15,505		58,289
Harvey Norman Holdings, Ltd.(B)		5,249		11,677
Incitec Pivot, Ltd.		13,962		32,240
Insurance Australia Group, Ltd.		19,589		96,535
LendLease Group		4,853		39,734
Macquarie Group, Ltd.		2,624		200,709
Magellan Financial Group, Ltd.		594		9,844
Medibank Pvt, Ltd.		22,887		41,409
Mirvac Group, REIT		31,717		50,016
National Australia Bank, Ltd.(B)		22,500		381,269
Newcrest Mining, Ltd.		6,313		96,887
Oil Search, Ltd.		10,993		55,412
Orica, Ltd.		3,122		37,914
Origin Energy, Ltd.(A)		14,506		66,073
Qantas Airways, Ltd.		7,891		32,165
QBE Insurance Group, Ltd.		11,301		80,355
Ramsay Health Care, Ltd.		1,097		44,584
REA Group, Ltd.(B)		441		22,968
Santos, Ltd.		14,580		56,248
Scentre Group, REIT		44,362		121,800
SEEK, Ltd.		2,991		35,628
Sonic Healthcare, Ltd.		3,705		57,670
South32, Ltd.		42,496		100,223
Stockland, REIT		20,797		51,537
Suncorp Group, Ltd.		10,743		95,522
Sydney Airport		9,175		43,470
Tabcorp Holdings, Ltd.		9,890		29,869
Telstra Corp., Ltd.		34,367		68,954

	Shares		Value
COMMON STOCKS (continued)
Australia (continued)
TPG Telecom, Ltd.		2,143		$   9,716
Transurban Group		18,018		147,776
Treasury Wine Estates, Ltd.		5,982		62,328
Vicinity Centres, REIT		27,574		50,471
Washington H Soul Pattinson & Co., Ltd.(B)		1,028		18,013
Wesfarmers, Ltd.		9,364		212,402
Westpac Banking Corp.		28,156		496,338
Woodside Petroleum, Ltd.(B)		7,726		170,353
Woolworths Group, Ltd.		10,872		225,177
				6,945,643
Austria - 0.2%
ams AG(A) (B)		525		12,547
Andritz AG		623		28,573
CA Immobilien Anlagen AG		759		23,965
Erste Group Bank AG(A)		2,867		95,209
Immofinanz AG		930		22,219
Lenzing AG		111		10,081
OMV AG		1,222		53,433
Raiffeisen Bank International AG		1,138		28,880
Verbund AG(B)		833		35,462
voestalpine AG		993		29,627
Wienerberger AG		1,041		21,420
				361,416
Belgium - 0.6%
Ackermans & van Haaren NV		209		31,489
Ageas		1,609		72,286
Anheuser-Busch InBev SA		8,148		537,440
Colruyt SA		505		35,930
Groupe Bruxelles Lambert SA		685		59,575
KBC Group NV		2,820		182,718
Proximus SADP		1,309		35,345
Sofina SA		172		32,600
Solvay SA		599		59,792
Telenet Group Holding NV		475		22,046
UCB SA		1,064		86,723
Umicore SA		1,720		68,542
				1,224,486
Bermuda - 0.0%(C)
Golar LNG, Ltd.		1,193		25,960
Chile - 0.0%(C)
Antofagasta PLC		2,829		28,219
China - 0.0%(C)
ENN Energy Holdings, Ltd.		6,900		61,206
Fosun International, Ltd.		18,500		26,937
				88,143
Denmark - 0.9%
Ambu A/S, B Shares		1,395		33,465
AP Moller - Maersk A/S, Class A		25		29,489
AP Moller - Maersk A/S, Class B		49		61,431
Carlsberg A/S, Class B		892		94,639
Chr Hansen Holding A/S		807		71,281
Coloplast A/S, Class B		978		90,639
Danske Bank A/S		5,776		114,052
DSV A/S		1,571		103,290
Genmab A/S(A)		502		82,091
GN Store Nord A/S		981		36,562

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    32

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Denmark (continued)
H. Lundbeck A/S		491		$   21,466
ISS A/S		1,564		43,616
Novo Nordisk A/S, Class B		14,507		662,020
Novozymes A/S, Class B		1,809		80,613
Orsted A/S(D)		1,578		105,322
Pandora A/S		908		36,902
Rockwool International A/S, B Shares		15		3,906
Tryg A/S		1,086		27,267
Vestas Wind Systems A/S		1,702		128,303
William Demant Holding A/S(A) (B)		894		25,322
				1,851,676
Finland - 0.7%
Amer Sports OYJ(A)		1,033		45,310
Cargotec OYJ, B Shares		342		10,446
Elisa OYJ		1,303		53,742
Fortum OYJ		3,599		78,581
Huhtamaki OYJ(B)		818		25,313
Kesko OYJ, Class B		605		32,575
Kone OYJ, Class B		3,328		158,415
Metso OYJ		1,066		27,906
Neste OYJ		1,063		81,854
Nokia OYJ		46,717		268,625
Nokian Renkaat OYJ		978		29,985
Nordea Bank Abp		26,142		219,908
Orion OYJ, Class B		870		30,115
Sampo OYJ, Class A		3,931		172,604
Stora Enso OYJ, Class R		4,811		55,464
UPM-Kymmene OYJ		4,430		112,171
Wartsila OYJ Abp		3,767		59,835
				1,462,849
France - 5.0%
Accor SA		1,539		65,288
Aeroports de Paris		269		50,893
Air Liquide SA		3,520		436,391
Airbus SE		4,769		457,723
Amundi SA(D)		429		22,637
Atos SE		769		62,837
AXA SA		15,941		343,648
BNP Paribas SA		9,260		417,865
Bollore SA		7,805		31,228	��
Bouygues SA		1,831		65,598
Bureau Veritas SA		2,250		45,770
Capgemini SE		1,330		131,970
Carrefour SA		4,873		83,057
Christian Dior SE		98		37,406
Cie de Saint-Gobain		4,576		152,564
Cie Generale des Etablissements Michelin SCA		1,489		147,576
CNP Assurances		1,328		28,115
Credit Agricole SA		10,053		108,370
Danone SA		5,188		364,795
Dassault Aviation SA		25		34,580
Dassault Systemes SE		1,148		136,089
Electricite de France SA		2,893		45,638
Engie SA		13,290		190,286
EssilorLuxottica SA		2,209		278,910
Hermes International		244		135,225
Ipsen SA		34		4,386

	Shares		Value
COMMON STOCKS (continued)
France (continued)
Kering SA		621		$   292,193
Klepierre SA, REIT		1,793		55,259
L’Oreal SA		2,015		463,454
Legrand SA		2,196		123,761
LVMH Moet Hennessy Louis Vuitton SE		2,217		654,373
Natixis SA		7,526		35,437
Orange SA		17,707		286,522
Pernod Ricard SA		1,733		283,889
Peugeot SA		4,577		97,554
Publicis Groupe SA		1,806		103,392
Renault SA		1,588		99,026
Safran SA		2,685		323,510
Sanofi		9,439		816,386
Schneider Electric SE		4,445		303,455
Societe Generale SA		6,235		198,288
Sodexo SA		757		77,450
Thales SA		879		102,493
TOTAL SA		20,692		1,092,344
Unibail-Rodamco-Westfield, REIT		1,128		174,595
Valeo SA		1,965		57,303
Veolia Environnement SA		4,649		95,422
Vinci SA		4,268		351,383
Vivendi SA		6,368		154,909
				10,121,243
Germany - 4.0%
1&1 Drillisch AG		148		7,529
adidas AG		1,501		312,974
Allianz SE		3,549		710,550
BASF SE		7,554		521,575
Bayer AG		7,418		513,542
Bayerische Motoren Werke AG		2,824		228,238
Beiersdorf AG		822		85,660
Commerzbank AG(A)		8,685		57,415
Continental AG		887		122,437
Covestro AG(D)		1,188		58,641
Daimler AG		8,197		430,195
Deutsche Bank AG		15,481		123,296
Deutsche Boerse AG		1,599		191,838
Deutsche Lufthansa AG		2,049		46,144
Deutsche Post AG		8,034		219,591
Deutsche Telekom AG		26,684		452,066
Deutsche Wohnen SE		2,944		134,617
E.ON SE		18,143		178,925
Evonik Industries AG		1,233		30,727
Fresenius Medical Care AG & Co. KGaA		1,781		115,316
Fresenius SE & Co. KGaA		3,402		164,816
Hannover Rueck SE		501		67,409
HeidelbergCement AG		1,124		68,588
Henkel AG & Co. KGaA		843		82,635
HOCHTIEF AG		174		23,411
Infineon Technologies AG		9,331		185,228
Innogy SE(D)		1,038		48,330
MAN SE		292		30,092
Merck KGaA		1,063		109,341
MTU Aero Engines AG		316		57,220
Muenchener Rueckversicherungs-Gesellschaft AG		1,236		269,234

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    33

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Germany (continued)
RWE AG		4,315		$   93,549
SAP SE		8,239		818,742
Siemens AG		7,005		779,796
Siemens Healthineers AG(A) (D)		578		24,147
Symrise AG		690		50,876
Telefonica Deutschland Holding AG		6,699		26,175
thyssenkrupp AG		3,201		54,815
TUI AG		3,750		53,754
United Internet AG		1,053		45,983
Volkswagen AG		259		41,184
Vonovia SE		4,246		192,163
Wirecard AG		901		136,781
Zalando SE(A) (D)		1,003		25,729
				7,991,274
Hong Kong - 1.9%
AIA Group, Ltd.		97,600		810,284
Alibaba Health Information Technology, Ltd.(A)		24,000		19,465
ASM Pacific Technology, Ltd.		2,500		24,092
Bank of East Asia, Ltd.		12,400		39,436
BOC Hong Kong Holdings, Ltd.		29,500		109,645
Cathay Pacific Airways, Ltd.		8,000		11,383
CK Asset Holdings, Ltd.		24,000		175,647
CK Hutchison Holdings, Ltd.		23,500		225,715
CK Infrastructure Holdings, Ltd.		5,500		41,657
CLP Holdings, Ltd.		16,000		180,858
Dairy Farm International Holdings, Ltd.		2,500		22,625
Evergrande Health Industry Group, Ltd.(A) (B)		15,000		19,734
Galaxy Entertainment Group, Ltd.		22,000		139,935
Hang Lung Properties, Ltd.		12,000		22,868
Hang Seng Bank, Ltd.		5,900		132,478
Henderson Land Development Co., Ltd.		12,000		59,775
HK Electric Investments & HK Electric Investments, Ltd.		24,000		24,217
HKT Trust & HKT, Ltd.		25,000		36,018
Hong Kong & China Gas Co., Ltd.		79,000		163,462
Hong Kong Exchanges & Clearing, Ltd.		9,600		277,847
Hongkong Land Holdings, Ltd.		9,500		59,850
Jardine Matheson Holdings, Ltd.		2,500		173,950
Jardine Strategic Holdings, Ltd.		1,100		40,381
Kerry Properties, Ltd.		5,500		18,792
Link REIT		18,000		182,314
Melco Resorts & Entertainment, Ltd., ADR		1,287		22,677
MTR Corp., Ltd.		12,500		65,778
New World Development Co., Ltd.		50,000		66,161
NWS Holdings, Ltd.		11,000		22,564
Power Assets Holdings, Ltd.		12,500		87,012
Shangri-La Asia, Ltd.		14,000		20,743
Sino Land Co., Ltd.		24,000		41,138
SJM Holdings, Ltd.		21,000		19,580
Sun Hung Kai Properties, Ltd.		12,000		171,049
Swire Pacific, Ltd., Class B		27,500		45,872
Swire Properties, Ltd.		9,600		33,719
Techtronic Industries Co., Ltd.		12,500		66,417
Wharf Holdings, Ltd.		11,000		28,661
Wharf Real Estate Investment Co., Ltd.		10,000		59,839
Wheelock & Co., Ltd.		9,000		51,441
Yue Yuen Industrial Holdings, Ltd.		5,500		17,597
				3,832,676

	Shares		Value
COMMON STOCKS (continued)
Ireland - 0.4%
AerCap Holdings NV(A)		1,031		$   40,828
AIB Group PLC		1,811		7,619
Bank of Ireland Group PLC		8,262		45,901
CRH PLC		7,308		192,981
DCC PLC		845		64,410
Glanbia PLC		851		15,954
ICON PLC(A)		334		43,156
James Hardie Industries PLC, CDI		3,698		39,363
Kerry Group PLC, Class A		1,019		100,761
Kingspan Group PLC(B)		926		39,569
Paddy Power Betfair PLC		752		61,594
Smurfit Kappa Group PLC		2,251		59,853
				711,989
Isle of Man - 0.0%(C)
GVC Holdings PLC		3,547		30,448
Israel - 0.4%
Azrieli Group, Ltd.		405		19,346
Bank Hapoalim BM		10,219		64,676
Bank LeumiLe-Israel BM		13,488		81,576
Bezeq Israeli Telecommunication Corp., Ltd.		20,833		20,349
Check Point Software Technologies, Ltd.(A)		1,160		119,074
CyberArk Software, Ltd.(A)		254		18,832
Elbit Systems, Ltd.		249		28,573
Israel Chemicals, Ltd.		5,656		32,089
Israel Corp., Ltd.		8		2,125
Israel Discount Bank, Ltd., A Shares		13,111		40,560
Mellanox Technologies, Ltd.(A)		333		30,763
Mizrahi Tefahot Bank, Ltd.		1,906		32,206
Nice, Ltd.(A)		618		66,518
Orbotech, Ltd.(A)		204		11,534
Plus500, Ltd.		611		10,661
Teva Pharmaceutical Industries, Ltd., ADR		7,586		116,976
Tower Semiconductor, Ltd.(A)		928		13,907
Wix.com, Ltd.(A)		307		27,734
				737,499
Italy - 1.1%
A2A SpA		13,990		25,148
Assicurazioni Generali SpA		10,477		174,861
Atlantia SpA		3,916		80,892
Banca Mediolanum SpA		2,425		14,110
Banco BPM SpA(A)		12,629		28,412
Brembo SpA		1,355		13,778
Davide Campari-Milano SpA		5,017		42,354
DiaSorin SpA		62		5,011
Enel SpA		63,749		367,580
Eni SpA		21,077		331,247
Ferrari NV		1,050		104,163
FinecoBank Banca Fineco SpA		3,414		34,258
Intesa Sanpaolo SpA		127,234		282,139
Leonardo SpA		3,314		29,087
Mediobanca Banca di Credito Finanziario SpA		5,219		44,006
Moncler SpA		1,417		46,862
Poste Italiane SpA(D)		4,131		32,981
Prada SpA		1,800		5,931
Prysmian SpA		2,273		43,835
Recordati SpA		916		31,717
Saipem SpA(A)		2,896		10,809

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    34

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Italy (continued)
Snam SpA		18,799		$   82,071
Telecom Italia SpA(A)		83,921		46,365
Telecom Italia SpA		58,440		27,858
Terna Rete Elettrica Nazionale SpA		12,205		69,105
UniCredit SpA		17,090		193,293
Unione di Banche Italiane SpA(B)		8,548		24,752
UnipolSai Assicurazioni SpA(B)		9,131		20,631
				2,213,256
Japan - 14.5%
Acom Co., Ltd.		3,800		12,434
Activia Properties, Inc., REIT		12		48,617
Advance Residence Investment Corp., REIT		12		33,086
Advantest Corp.		1,200		24,544
Aeon Co., Ltd.		7,400		144,978
AEON Financial Service Co., Ltd.		1,200		21,372
Aeon Mall Co., Ltd.		1,200		19,130
AGC, Inc.		2,500		78,157
Air Water, Inc.		1,400		21,246
Aisin Seiki Co., Ltd.		1,200		41,781
Ajinomoto Co., Inc.		4,900		87,402
Alfresa Holdings Corp.		2,500		63,870
Alps Electric Co., Ltd.		1,300		25,297
Amada Holdings Co., Ltd.		3,800		34,220
ANA Holdings, Inc.		1,200		43,104
Aozora Bank, Ltd.		1,200		35,820
Asahi Group Holdings, Ltd.		3,800		147,858
Asahi Intecc Co., Ltd.		800		33,833
Asahi Kasei Corp.		12,400		127,713
Asics Corp.(B)		1,300		16,648
Astellas Pharma, Inc.		17,200		219,713
Azbil Corp.		2,000		39,557
Bandai Namco Holdings, Inc.		2,300		103,245
Bank of Kyoto, Ltd.		100		4,143
Benesse Holdings, Inc.		1,100		28,053
Bridgestone Corp.		5,400		208,489
Brother Industries, Ltd.		2,500		37,164
Calbee, Inc.		1,200		37,625
Canon, Inc.(B)		8,600		235,233
Capcom Co., Ltd.		600		11,878
Casio Computer Co., Ltd.(B)		2,500		29,713
Central Japan Railway Co.		1,400		295,593
Chiba Bank, Ltd.		7,600		42,532
Chubu Electric Power Co., Inc.		6,100		86,873
Chugai Pharmaceutical Co., Ltd.		1,300		75,596
Chugoku Bank, Ltd.		1,400		11,829
Chugoku Electric Power Co., Inc.		2,500		32,539
Citizen Watch Co., Ltd.		2,500		12,350
Coca-Cola Bottlers Japan Holdings, Inc.		1,200		35,929
COMSYS Holdings Corp.		1,300		31,791
Concordia Financial Group, Ltd.		10,800		41,540
Cosmos Pharmaceutical Corp.		100		16,725
Credit Saison Co., Ltd.		1,300		15,297
CyberAgent, Inc.		900		34,822
Dai Nippon Printing Co., Ltd.		400		8,374
Dai-ichi Life Holdings, Inc.		9,800		153,456
Daicel Corp.		2,500		25,771
Daifuku Co., Ltd.		1,100		50,330

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Daiichi Sankyo Co., Ltd.		4,900		$   156,805
Daikin Industries, Ltd.		2,500		266,486
Daito Trust Construction Co., Ltd.		700		95,798
Daiwa House Industry Co., Ltd.		5,900		188,107
Daiwa House REIT Investment Corp.		15		33,592
Daiwa Securities Group, Inc.		12,400		62,907
DeNA Co., Ltd.		1,200		20,059
Denso Corp.		4,600		205,148
Dentsu, Inc.		2,400		107,296
DIC Corp.		1,200		36,859
Disco Corp.		200		23,424
Don Quijote Holdings Co., Ltd.		1,200		74,593
East Japan Railway Co.		3,800		336,342
Ebara Corp.		900		20,270
Eisai Co., Ltd.		2,500		193,729
Electric Power Development Co., Ltd.		1,200		28,503
Ezaki Glico Co., Ltd.		200		10,172
FamilyMart UNY Holdings Co., Ltd.(B)		700		88,748
Fancl Corp.		600		15,351
FANUC Corp.		1,400		212,715
Fast Retailing Co., Ltd.		500		256,893
Fuji Electric Co., Ltd.		800		23,661
FUJIFILM Holdings Corp.		3,800		147,892
Fujitsu, Ltd.		1,200		74,889
Fukuoka Financial Group, Inc.		1,900		38,739
Furukawa Electric Co., Ltd.		800		20,139
GLPJ-REIT		30		30,597
GMO Payment Gateway, Inc.		200		8,531
GungHo Online Entertainment, Inc.(A) (B)		1,200		2,188
Gunma Bank, Ltd.		3,800		15,898
H2O Retailing Corp.		1,200		17,084
Hachijuni Bank, Ltd.		4,900		20,142
Hakuhodo DY Holdings, Inc.		2,500		35,888
Hamamatsu Photonics KK		1,100		37,046
Hankyu Hanshin Holdings, Inc.		2,500		83,170
Harmonic Drive Systems, Inc.(B)		200		5,487
Haseko Corp.		2,500		26,318
Hikari Tsushin, Inc.		200		31,299
Hino Motors, Ltd.		2,500		23,698
Hirose Electric Co., Ltd.		100		9,816
Hisamitsu Pharmaceutical Co., Inc.		800		44,260
Hitachi Chemical Co., Ltd.		1,200		18,156
Hitachi Construction Machinery Co., Ltd.		1,200		28,131
Hitachi High-Technologies Corp.		900		28,342
Hitachi Metals, Ltd.		1,400		14,674
Hitachi, Ltd.		7,400		197,992
Hokuhoku Financial Group, Inc.		1,200		13,551
Hokuriku Electric Power Co.(A)		2,500		21,852
Honda Motor Co., Ltd.		14,700		387,815
Hoshizaki Corp.		400		24,354
House Foods Group, Inc.		1,100		37,848
Hoya Corp.		3,500		211,024
Hulic Co., Ltd.		3,800		34,116
Ibiden Co., Ltd.		1,200		16,931
Idemitsu Kosan Co., Ltd.		1,200		39,484
IHI Corp.		1,200		33,140
Iida Group Holdings Co., Ltd.		1,300		22,525
Inpex Corp.		8,600		76,950

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    35

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Isetan Mitsukoshi Holdings, Ltd.		3,800		$   42,082
Isuzu Motors, Ltd.		4,900		69,158
Ito En, Ltd.		900		40,400
ITOCHU Corp.		13,200		224,622
Itochu Techno-Solutions Corp.		300		5,808
Itoham Yonekyu Holdings, Inc.		1,400		8,460
Iyo Bank, Ltd.		2,500		13,216
Izumi Co., Ltd.		200		9,315
J. Front Retailing Co., Ltd.		2,500		28,711
Japan Airlines Co., Ltd.		1,100		39,011
Japan Airport Terminal Co., Ltd.		900		31,254
Japan Exchange Group, Inc.		4,800		77,831
Japan Hotel REIT Investment Corp.		38		27,154
Japan Post Bank Co., Ltd.		3,800		41,909
Japan Post Holdings Co., Ltd.		5,900		68,026
Japan Prime Realty Investment Corp., REIT		12		45,609
Japan Real Estate Investment Corp., REIT		12		67,375
Japan Retail Fund Investment Corp., REIT		25		50,016
Japan Tobacco, Inc.		9,400		224,173
JFE Holdings, Inc.		4,900		78,470
JGC Corp.		2,500		35,250
JSR Corp.		1,400		21,118
JTEKT Corp.		2,500		27,936
JXTG Holdings, Inc.		26,900		141,396
K’s Holdings Corp.		2,600		25,594
Kagome Co., Ltd.(B)		1,200		31,511
Kajima Corp.		5,000		67,356
Kakaku.com, Inc.		800		14,160
Kansai Electric Power Co., Inc.		7,400		111,288
Kansai Paint Co., Ltd.		2,500		48,170
Kao Corp.		3,800		282,415
Kawasaki Heavy Industries, Ltd.		1,200		25,725
KDDI Corp.		14,400		344,398
Keikyu Corp.		1,200		19,655
Keio Corp.		500		29,121
Keisei Electric Railway Co., Ltd.		1,300		40,760
Kewpie Corp.		1,100		24,634
Keyence Corp.		800		405,997
Kikkoman Corp.		1,200		64,640
Kinden Corp.		1,300		21,044
Kintetsu Group Holdings Co., Ltd.		1,300		56,519
Kirin Holdings Co., Ltd.		7,400		155,028
Kobayashi Pharmaceutical Co., Ltd.		300		20,426
Kobe Steel, Ltd.		3,800		26,461
Koito Manufacturing Co., Ltd.		1,200		62,125
Komatsu, Ltd.		8,300		178,951
Konami Holdings Corp.		1,200		52,554
Konica Minolta, Inc.		4,900		44,349
Kose Corp.		200		31,463
Kubota Corp.		9,700		138,054
Kuraray Co., Ltd.		2,500		35,319
Kurita Water Industries, Ltd.		1,200		29,137
Kyocera Corp.		2,600		130,527
Kyowa Hakko Kirin Co., Ltd.		2,500		47,327
Kyushu Electric Power Co., Inc.		3,800		45,337
Kyushu Financial Group, Inc.		3,800		14,408
Kyushu Railway Co.		1,200		40,633
LINE Corp.(A) (B)		400		13,763

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Lion Corp.		2,500		$   51,725
LIXIL Group Corp.		2,500		31,035
M3, Inc.		3,100		41,648
Mabuchi Motor Co., Ltd.		100		3,072
Makita Corp.		2,500		88,981
Marubeni Corp.		14,700		103,489
Marui Group Co., Ltd.		2,500		48,603
Maruichi Steel Tube, Ltd.		1,100		34,740
Matsumotokiyoshi Holdings Co., Ltd.		500		15,335
Mazda Motor Corp.		4,900		50,690
McDonald’s Holdings Co. Japan, Ltd.(B)		900		38,226
Mebuki Financial Group, Inc.		8,600		22,888
Medipal Holdings Corp.		1,300		27,904
MEIJI Holdings Co., Ltd.		1,200		97,999
Mercari, Inc.(A)		100		1,679
Minebea Mitsumi, Inc.		3,800		55,070
MISUMI Group, Inc.		2,600		54,955
Mitsubishi Chemical Holdings Corp.		12,400		94,101
Mitsubishi Corp.		13,500		371,599
Mitsubishi Electric Corp.		18,400		204,016
Mitsubishi Estate Co., Ltd.		11,100		174,976
Mitsubishi Gas Chemical Co., Inc.		2,500		37,711
Mitsubishi Heavy Industries, Ltd.		2,500		90,143
Mitsubishi Materials Corp.		1,200		31,664
Mitsubishi Motors Corp.		6,100		33,470
Mitsubishi Tanabe Pharma Corp.		2,500		36,025
Mitsubishi UFJ Financial Group, Inc.		108,000		529,492
Mitsubishi UFJ Lease & Finance Co., Ltd.		4,900		23,581
Mitsui & Co., Ltd.		14,300		220,336
Mitsui Chemicals, Inc.		2,400		54,337
Mitsui Fudosan Co., Ltd.		8,600		191,651
Mitsui O.S.K. Lines, Ltd.		1,200		26,239
Miura Co., Ltd.		600		13,699
Mizuho Financial Group, Inc.		208,900		324,255
MonotaRO Co., Ltd.(B)		1,400		34,683
MS&AD Insurance Group Holdings, Inc.		4,600		131,315
Murata Manufacturing Co., Ltd.		1,600		218,092
Nabtesco Corp.		1,200		26,206
Nagoya Railroad Co., Ltd.		2,500		65,989
Nankai Electric Railway Co., Ltd.		100		2,647
NEC Corp.		4,200		124,987
Nexon Co., Ltd.(A)		3,100		39,924
NGK Insulators, Ltd.		2,500		33,974
NGK Spark Plug Co., Ltd.		1,200		23,975
NH Foods, Ltd.		100		3,769
NHK Spring Co., Ltd.		2,500		21,989
Nichirei Corp.		1,200		33,086
Nidec Corp.		2,500		284,259
Nihon M&A Center, Inc.		1,400		28,277
Nikon Corp.		3,800		56,629
Nintendo Co., Ltd.		900		240,227
Nippon Building Fund, Inc., REIT		12		75,578
Nippon Electric Glass Co., Ltd.		1,000		24,545
Nippon Express Co., Ltd.		1,100		61,359
Nippon Paint Holdings Co., Ltd.		1,300		44,552
Nippon Paper Industries Co., Ltd.		1,200		21,492
Nippon Prologis REIT, Inc.		27		57,069
Nippon Shinyaku Co., Ltd.		400		25,484

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    36

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Nippon Shokubai Co., Ltd.		100		$   6,389
Nippon Steel & Sumitomo Metal Corp.		7,400		127,644
Nippon Telegraph & Telephone Corp.		5,400		220,597
Nippon Yusen KK		1,200		18,495
Nissan Chemical Corp.		1,100		57,750
Nissan Motor Co., Ltd.		19,500		156,459
Nisshin Seifun Group, Inc.		2,500		51,748
Nissin Foods Holdings Co., Ltd.		1,100		69,179
Nitori Holdings Co., Ltd.		800		100,114
Nitto Denko Corp.		1,200		60,626
NOK Corp.(B)		1,200		16,800
Nomura Holdings, Inc.		27,900		107,007
Nomura Real Estate Holdings, Inc.		1,200		22,039
Nomura Real Estate Master Fund, Inc., REIT		39		51,329
Nomura Research Institute, Ltd.		1,100		40,856
NSK, Ltd.		3,800		32,869
NTT Data Corp.		4,900		53,817
NTT DOCOMO, Inc.		9,400		211,835
Obayashi Corp.		6,100		55,265
OBIC Business Consultants Co., Ltd.		200		7,875
OBIC Co., Ltd.		800		61,906
Odakyu Electric Railway Co., Ltd.		2,500		55,075
OJI Holdings Corp.		9,900		50,982
Olympus Corp.		2,500		76,904
Omron Corp.		2,500		91,145
Ono Pharmaceutical Co., Ltd.		4,600		94,126
Open House Co., Ltd.		200		6,763
Oracle Corp.		100		6,380
Oriental Land Co., Ltd.		2,100		211,598
ORIX Corp.		11,000		160,967
Orix JREIT, Inc.		26		43,225
Osaka Gas Co., Ltd.		2,500		45,778
Otsuka Corp.		700		19,268
Otsuka Holdings Co., Ltd.		4,900		200,663
PALTAC Corp.		100		4,730
Panasonic Corp.		20,400		184,189
Park24 Co., Ltd.		1,200		26,392
PeptiDream, Inc.(A)		900		35,601
Persol Holdings Co., Ltd.		1,300		19,385
Pigeon Corp.		1,200		51,406
Pola Orbis Holdings, Inc.		900		24,355
Rakuten, Inc.(A)		7,400		49,641
Recruit Holdings Co., Ltd.		13,300		322,757
Relo Group, Inc.		1,200		28,142
Renesas Electronics Corp.(A)		4,800		21,875
Resona Holdings, Inc.		18,400		88,667
Ricoh Co., Ltd.		6,100		59,880
Rohm Co., Ltd.		900		57,750
Rohto Pharmaceutical Co., Ltd.		600		16,406
Ryohin Keikaku Co., Ltd.		200		48,398
Sankyu, Inc.		100		4,534
Santen Pharmaceutical Co., Ltd.		3,800		54,931
SBI Holdings, Inc.		2,500		49,196
SCREEN Holdings Co., Ltd.		300		12,592
Secom Co., Ltd.		2,300		191,060
Sega Sammy Holdings, Inc.		1,300		18,200
Seibu Holdings, Inc.		2,500		43,613
Seiko Epson Corp.		2,500		35,273

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Seino Holdings Co., Ltd.		800		$   10,515
Sekisui Chemical Co., Ltd.		3,700		55,003
Sekisui House, Ltd.		4,900		72,306
Seria Co., Ltd.(B)		200		6,781
Seven & i Holdings Co., Ltd.		6,200		270,288
Seven Bank, Ltd.		6,200		17,744
SG Holdings Co., Ltd.		1,600		41,766
Sharp Corp.		1,200		12,053
Shikoku Electric Power Co., Inc.		1,400		16,946
Shimadzu Corp.		2,500		49,537
Shimamura Co., Ltd.		100		7,656
Shimano, Inc.		800		113,166
Shimizu Corp.		6,100		49,761
Shin-Etsu Chemical Co., Ltd.		3,500		272,306
Shinsei Bank, Ltd.		1,300		15,510
Shionogi & Co., Ltd.		2,500		142,893
Shiseido Co., Ltd.		3,500		219,861
Shizuoka Bank, Ltd.		300		2,354
Showa Denko KK		1,200		35,765
Showa Shell Sekiyu KK		1,300		18,259
Skylark Holdings Co., Ltd.		1,200		18,976
SMC Corp.		600		181,780
SoftBank Group Corp.		7,100		472,729
Sohgo Security Services Co., Ltd.		1,100		51,534
Sojitz Corp.		9,900		34,469
Sompo Holdings, Inc.		3,500		119,054
Sony Corp.		10,700		519,420
Sony Financial Holdings, Inc.		1,200		22,476
Square Enix Holdings Co., Ltd.		900		24,503
Stanley Electric Co., Ltd.		1,200		33,797
Subaru Corp.		4,900		105,400
Sumco Corp.(B)		1,400		15,657
Sumitomo Chemical Co., Ltd.		12,200		59,268
Sumitomo Corp.		10,900		155,132
Sumitomo Dainippon Pharma Co., Ltd.		1,300		41,412
Sumitomo Electric Industries, Ltd.		6,200		82,618
Sumitomo Metal Mining Co., Ltd.		1,600		42,984
Sumitomo Mitsui Financial Group, Inc.		11,800		392,025
Sumitomo Mitsui Trust Holdings, Inc.		3,800		139,303
Sumitomo Realty & Development Co., Ltd.		2,400		88,068
Sumitomo Rubber Industries, Ltd.		1,300		15,404
Sundrug Co., Ltd.		900		26,865
Suntory Beverage & Food, Ltd.		1,200		54,250
Suzuken Co., Ltd.		1,100		56,045
Suzuki Motor Corp.		3,800		192,814
Sysmex Corp.		1,200		57,706
T&D Holdings, Inc.		4,900		57,122
Taiheiyo Cement Corp.		1,200		37,133
Taisei Corp.		2,100		90,056
Taisho Pharmaceutical Holdings Co., Ltd.		300		30,160
Taiyo Nippon Sanso Corp.		2,400		39,287
Taiyo Yuden Co., Ltd.		900		13,420
Takashimaya Co., Ltd.		200		2,559
Takeda Pharmaceutical Co., Ltd.(B)		6,100		205,993
TDK Corp.		1,100		77,401
Teijin, Ltd.		1,400		22,420
Terumo Corp.		2,500		141,822
THK Co., Ltd.		1,200		22,553

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    37

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
TIS, Inc.		500		$   19,710
Tobu Railway Co., Ltd.		2,500		67,516
Toho Co., Ltd.		1,200		43,531
Toho Gas Co., Ltd.		300		12,674
Tohoku Electric Power Co., Inc.		3,800		50,221
Tokai Carbon Co., Ltd.(B)		1,600		18,200
Tokio Marine Holdings, Inc.		6,100		291,114
Tokyo Electric Power Co. Holdings, Inc.(A)		7,400		44,043
Tokyo Electron, Ltd.		1,200		136,882
Tokyo Gas Co., Ltd.		2,500		63,471
Tokyo Tatemono Co., Ltd.		2,500		25,976
Tokyu Corp.		4,900		80,167
Tokyu Fudosan Holdings Corp.		5,500		27,170
Toray Industries, Inc.		13,500		94,992
Toshiba Corp.		5,700		161,054
Tosoh Corp.		900		11,747
TOTO, Ltd.		1,200		41,672
Toyo Seikan Group Holdings, Ltd.		1,100		25,286
Toyo Suisan Kaisha, Ltd.		1,200		41,945
Toyoda Gosei Co., Ltd.		1,200		23,789
Toyota Boshoku Corp.		1,200		17,948
Toyota Industries Corp.		1,200		55,672
Toyota Motor Corp.		21,900		1,278,689
Toyota Tsusho Corp.		2,500		73,942
Trend Micro, Inc.(A)		1,200		65,296
Tsumura & Co.		1,000		27,845
Tsuruha Holdings, Inc.		200		17,172
Ube Industries, Ltd.		1,200		24,434
Unicharm Corp.		3,800		123,267
United Urban Investment Corp., REIT		25		38,782
USS Co., Ltd.		2,500		42,132
Welcia Holdings Co., Ltd.		200		9,042
West Japan Railway Co.		1,200		84,885
Yahoo Japan Corp.		11,000		27,471
Yakult Honsha Co., Ltd.		1,100		77,401
Yamada Denki Co., Ltd.		7,400		35,545
Yamaha Corp.		1,200		51,187
Yamaha Motor Co., Ltd.(B)		2,500		49,196
Yamato Holdings Co., Ltd.(B)		3,800		104,737
Yamazaki Baking Co., Ltd.		1,200		25,222
Yaskawa Electric Corp.		2,500		61,477
Yokogawa Electric Corp.		2,500		43,317
Yokohama Rubber Co., Ltd.		1,200		22,586
Zensho Holdings Co., Ltd.		1,100		26,669
Zeon Corp.		500		4,585
ZOZO, Inc.		1,300		23,816
				29,237,290
Jersey, Channel Islands - 0.0%(C)
Randgold Resources, Ltd.		783		63,430
Luxembourg - 0.1%
ArcelorMittal		5,205		107,935
Aroundtown SA		1,508		12,446
Millicom International Cellular SA, SDR		519		32,870
SES SA		3,283		62,712
Tenaris SA		3,869		41,752
				257,715

	Shares		Value
COMMON STOCKS (continued)
Macau - 0.1%
MGM China Holdings, Ltd.(B)		8,000		$   13,427
Sands China, Ltd.		19,200		84,114
Wynn Macau, Ltd.		13,200		28,796
				126,337
Mexico - 0.0%(C)
Fresnillo PLC		1,516		16,605
Netherlands - 2.4%
ABN AMRO Group NV, CVA(D)		3,427		80,467
Adyen NV(A) (B) (D)		176		95,577
Aegon NV		11,653		54,337
Akzo Nobel NV		2,086		167,876
ASML Holding NV		3,566		559,129
EXOR NV(B)		819		44,247
Heineken Holding NV		989		83,380
Heineken NV		1,783		157,352
ING Groep NV		31,447		338,277
Koninklijke Ahold Delhaize NV		10,316		260,325
Koninklijke DSM NV		1,502		122,663
Koninklijke KPN NV		35,019		102,482
Koninklijke Philips NV		7,774		274,870
NN Group NV		2,521		100,289
NXP Semiconductors NV		2,697		197,636
QIAGEN NV(A)		1,911		64,838
Randstad NV		1,051		48,166
Royal Dutch Shell PLC, Class A		38,963		1,145,057
Royal Dutch Shell PLC, Class B		29,004		864,384
Wolters Kluwer NV		2,328		137,480
				4,898,832
New Zealand - 0.2%
a2 Milk Co., Ltd.(A)		6,265		46,841
Air New Zealand, Ltd.		7,305		15,185
Auckland International Airport, Ltd.		9,442		45,459
Contact Energy, Ltd.		7,943		31,424
Fisher & Paykel Healthcare Corp., Ltd.		5,588		48,711
Fletcher Building, Ltd.(A)		7,849		25,684
Meridian Energy, Ltd.		14,164		32,340
Ryman Healthcare, Ltd.		5,120		36,873
SkyCity Entertainment Group, Ltd.		8,012		19,072
Spark New Zealand, Ltd.		17,760		49,422
Synlait Milk, Ltd.(A)		506		3,054
Trade Me Group, Ltd.		1,824		7,767
Xero, Ltd.(A)		652		19,287
Z Energy, Ltd.		4,893		18,013
				399,132
Norway - 0.5%
AKER BP ASA		1,093		27,517
DNB ASA		7,852		125,273
DNO ASA		388		562
Entra ASA(D)		1,526		20,302
Equinor ASA		9,401		199,492
Gjensidige Forsikring ASA		1,918		29,947
Leroy Seafood Group ASA		689		5,247
Marine Harvest ASA		3,638		76,758
Norsk Hydro ASA		11,580		52,436
Norwegian Finans Holding ASA(A)		1,471		11,382
Orkla ASA		7,674		60,299

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    38

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Norway (continued)
Salmar ASA		242		$   11,961
Schibsted ASA, B Shares		1,722		52,202
SpareBank 1SR-Bank ASA		2,055		21,169
Storebrand ASA		4,566		32,503
Telenor ASA		5,916		114,437
TGS NOPEC Geophysical Co. ASA		941		22,691
Tomra Systems ASA		405		9,111
Yara International ASA		1,501		57,810
				931,099
Portugal - 0.1%
Banco Comercial Portugues SA, R Shares(A)		92,268		24,207
EDP - Energias de Portugal SA		21,490		74,903
Galp Energia SGPS SA		4,228		66,674
Jeronimo Martins SGPS SA		2,425		28,664
				194,448
Republic of South Africa - 0.0%(C)
Mondi PLC		3,075		63,973
Romania - 0.0%(C)
NEPI Rockcastle PLC		2,692		21,147
Singapore - 0.8%
Ascendas Real Estate Investment Trust		24,700		46,573
CapitaLand Commercial Trust, REIT		26,600		34,153
CapitaLand Mall Trust, REIT		25,600		42,448
CapitaLand, Ltd.		21,900		49,970
City Developments, Ltd.		4,900		29,192
ComfortDelGro Corp., Ltd.		18,400		29,024
DBS Group Holdings, Ltd.		14,700		255,497
Genting Singapore, Ltd.		47,700		34,121
Golden Agri-Resources, Ltd.		58,700		10,551
Jardine Cycle & Carriage, Ltd.		1,100		28,529
Keppel Corp., Ltd.		13,500		58,536
Mapletree Commercial Trust, REIT		19,600		23,727
Oversea-Chinese Banking Corp., Ltd.		32,300		266,836
SATS, Ltd.		7,300		24,958
Sea, Ltd., ADR(A) (B)		24		272
Sembcorp Industries, Ltd.		8,600		16,026
Singapore Airlines, Ltd.		4,200		29,027
Singapore Exchange, Ltd.		8,600		45,114
Singapore Press Holdings, Ltd.		14,700		25,345
Singapore Technologies Engineering, Ltd.		13,500		34,567
Singapore Telecommunications, Ltd.		64,800		139,299
Suntec Real Estate Investment Trust		23,400		30,559
United Overseas Bank, Ltd.		11,700		210,909
UOL Group, Ltd.		5,100		23,161
Venture Corp., Ltd.		2,500		25,587
Wilmar International, Ltd.		30,500		69,817
				1,583,798
Spain - 1.5%
ACS Actividades de Construccion y Servicios SA		2,282		88,251
Aena SME SA(D)		612		94,972
Amadeus IT Group SA		3,638		253,020
Banco Bilbao Vizcaya Argentaria SA		54,132		286,849
Banco de Sabadell SA		46,539		53,228
Banco Santander SA		128,798		584,966
Bankia SA(B)		8,480		24,817
CaixaBank SA		29,539		106,840

	Shares		Value
COMMON STOCKS (continued)
Spain (continued)
Endesa SA		2,611		$   60,083
Ferrovial SA		4,132		83,582
Grifols SA(B)		2,358		61,728
Grifols SA, ADR		2,384		43,770
Iberdrola SA		49,794		399,479
Industria de Diseno Textil SA		8,780		224,324
Mapfre SA(B)		8,342		22,124
Naturgy Energy Group SA		2,846		72,421
Red Electrica Corp. SA		3,637		81,053
Repsol SA		10,512		169,197
Siemens Gamesa Renewable Energy SA(A)		1,073		13,051
Telefonica SA		37,682		316,136
				3,039,891
Sweden - 1.5%
Ahlsell AB(D)		2,465		14,486
Alfa Laval AB		2,452		52,451
Assa Abloy AB, B Shares		8,142		145,238
Atlas Copco AB, A Shares		4,983		118,310
Atlas Copco AB, B Shares		3,552		77,451
Axfood AB		1,002		17,145
Boliden AB		2,274		49,241
Castellum AB		2,351		43,316
Electrolux AB, Series B		1,964		41,447
Elekta AB, B Shares		3,060		36,361
Epiroc AB, Class A(A)		4,985		47,141
Epiroc AB, Class B(A)		3,533		31,433
Essity AB, Class B		4,985		122,350
Fabege AB		707		9,423
Fastighets AB Balder, B Shares(A)		847		24,075
Getinge AB, Class B		1,871		16,862
Hennes & Mauritz AB, B Shares(B)		6,824		96,997
Hexagon AB, B Shares		2,185		100,552
Hexpol AB		2,153		17,011
Holmen AB, B Shares		271		5,347
Hufvudstaden AB, A Shares		1,058		16,337
Husqvarna AB, B Shares		3,561		26,389
ICA Gruppen AB(B)		666		23,798
Industrivarden AB, A Shares		1,304		26,945
Industrivarden AB, Class C		1,492		30,157
Intrum AB(B)		615		14,269
Investment AB Latour, B Shares(B)		1,187		14,995
Investor AB, B Shares		3,708		157,089
Kinnevik AB, B Shares		1,962		47,291
L E Lundbergforetagen AB, B Shares		675		19,886
Lundin Petroleum AB		1,443		36,035
Nibe Industrier AB, B Shares(B)		3,456		35,442
Saab AB, B Shares(B)		707		24,545
Sandvik AB		9,038		128,803
Securitas AB, B Shares		2,727		43,754
Skandinaviska Enskilda Banken AB, Class A		13,862		134,620
Skanska AB, Class B		3,320		52,800
SKF AB, Class B		3,108		47,133
Spotify Technology SA(A)		407		46,194
SSAB AB, B Shares		6,704		18,843
Svenska Cellulosa AB SCA, Class B		5,166		40,042
Svenska Handelsbanken AB, A Shares		12,717		141,000
Swedbank AB, Class A		7,941		177,121

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    39

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
Sweden (continued)
Swedish Match AB		1,498		$   58,985
Swedish Orphan Biovitrum AB(A)		1,369		29,802
Tele2 AB, Class B		4,245		54,081
Telefonaktiebolaget LM Ericsson, B Shares		23,336		205,095
Telia Co. AB		22,455		106,325
Trelleborg AB, B Shares		2,008		31,561
Volvo AB, Class B		11,719		153,264
				3,009,238
Switzerland - 4.5%
ABB, Ltd.		15,935		302,196
Chocoladefabriken Lindt & Spruengli AG		14		86,630
Cie Financiere Richemont SA		4,345		277,678
Credit Suisse Group AG(A)		20,088		220,076
Ferguson PLC		1,996		127,537
Geberit AG		306		118,669
Givaudan SA		61		140,836
Glencore PLC		99,091		367,690
Keuhne & Nagel International AG		488		62,547
LafargeHolcim, Ltd.(A)		3,964		162,855
Lonza Group AG(A)		612		158,122
Nestle SA		25,165		2,037,094
Novartis AG		20,792		1,772,530
Partners Group Holding AG(B)		159		96,129
Roche Holding AG		5,962		1,471,019
Schindler Holding AG		514		100,419
SGS SA		49		109,850
Sika AG		1,180		149,146
STMicroelectronics NV		5,498		76,866
Swatch Group AG		896		88,240
Swiss Re AG		2,670		244,086
Swisscom AG		222		105,775
UBS Group AG(A)		31,610		392,319
Zurich Insurance Group AG		1,245		370,166
				9,038,475
United Arab Emirates - 0.0%(C)
NMC Health PLC		699		24,357
United Kingdom - 7.8%
3i Group PLC		8,080		79,588
Admiral Group PLC		2,120		55,270
Anglo American PLC(B)		11,587		257,926
Ashtead Group PLC		4,175		87,044
Associated British Foods PLC		2,930		76,237
AstraZeneca PLC		10,434		780,448
Aviva PLC		33,195		158,751
Babcock International Group PLC		4,241		26,429
BAE Systems PLC		26,311		153,876
Barclays PLC		131,336		251,774
Barratt Developments PLC		8,451		49,812
Berkeley Group Holdings PLC		1,184		52,461
BHP Group PLC		17,385		365,689
BP PLC		162,430		1,025,976
British American Tobacco PLC		18,551		590,664
British Land Co. PLC, REIT		8,395		57,009
BT Group PLC		68,188		206,776
Bunzl PLC		2,865		86,441
Burberry Group PLC		3,484		77,008
Centrica PLC		46,419		79,752

	Shares		Value
COMMON STOCKS (continued)
United Kingdom (continued)
CNH Industrial NV		8,263		$   74,131
Coca-Cola European Partners PLC(A)		2,167		99,357
Compass Group PLC		13,142		276,171
ConvaTec Group PLC(D)		6,036		10,682
Croda International PLC		179		10,681
Diageo PLC		20,215		719,596
Direct Line Insurance Group PLC		11,417		46,341
DS Smith PLC		5,068		19,319
easyJet PLC		2,414		33,973
Experian PLC		7,619		184,853
Fiat Chrysler Automobiles NV(A)		9,052		131,231
G4S PLC		12,917		32,400
GlaxoSmithKline PLC		40,242		764,273
Hammerson PLC, REIT		7,009		29,404
Hargreaves Lansdown PLC		2,080		48,982
HSBC Holdings PLC		164,616		1,356,257
IMI PLC		2,263		27,207
Imperial Brands PLC		7,932		240,129
Informa PLC		10,861		87,173
InterContinental Hotels Group PLC		1,647		88,876
International Consolidated Airlines Group SA		7,659		60,283
Intertek Group PLC		1,331		81,368
ITV PLC		30,504		48,504
J Sainsbury PLC		14,280		48,195
Johnson Matthey PLC		1,648		58,748
Kingfisher PLC		18,236		48,193
Land Securities Group PLC, REIT		6,323		64,778
Legal & General Group PLC		48,500		142,688
Lloyds Banking Group PLC		587,511		387,970
London Stock Exchange Group PLC		2,613		135,180
Marks & Spencer Group PLC		13,738		43,252
Melrose Industries PLC		31,972		66,719
Merlin Entertainments PLC(D)		6,065		24,525
Micro Focus International PLC		3,608		63,551
National Grid PLC		29,673		288,803
Next PLC		1,172		59,572
Ocado Group PLC(A)		4,439		44,663
Pearson PLC(B)		6,538		78,139
Persimmon PLC		2,577		63,344
Prudential PLC		21,232		379,116
Reckitt Benckiser Group PLC		5,522		422,883
RELX PLC		16,928		348,509
Rentokil Initial PLC		15,322		65,801
Rio Tinto PLC		9,436		448,260
Rio Tinto, Ltd.		3,067		169,430
Rolls-Royce Holdings PLC		15,330		162,051
Royal Bank of Scotland Group PLC		27,501		75,900
Royal Mail PLC		7,803		27,041
RSA Insurance Group PLC		8,512		55,679
Sage Group PLC		9,467		72,512
Schroders PLC		966		30,056
Severn Trent PLC		1,999		46,221
Smith & Nephew PLC		7,372		137,455
Smiths Group PLC		3,250		56,459
SSE PLC		8,430		116,115
St. James’s Place PLC		4,437		53,345
Standard Chartered PLC		22,639		175,680
Standard Life Aberdeen PLC		19,395		63,421

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    40

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

	Shares		Value
COMMON STOCKS (continued)
United Kingdom (continued)
Subsea 7 SA		2,248		$   21,880
Taylor Wimpey PLC		27,388		47,526
Tesco PLC		80,122		193,984
Unilever NV, CVA		14,147		766,883
Unilever PLC		9,877		516,822
United Utilities Group PLC		5,648		52,957
Vodafone Group PLC		218,635		425,755
Weir Group PLC		2,141		35,393
Whitbread PLC		1,525		88,935
WM Morrison Supermarkets PLC		19,674		53,434
WPP PLC		10,574		114,012
				15,831,957
United States - 0.3%
Carnival PLC		1,804		86,458
Flex, Ltd.(A)		4,832		36,772
International Game Technology PLC		937		13,708
Shire PLC		7,512		437,225
Stratasys, Ltd.(A)		243		4,376
				578,539
Total Common Stocks (Cost $117,671,904)				106,943,040
PREFERRED STOCKS - 0.3%
Germany - 0.3%
Bayerische Motoren Werke AG, 6.40%(E)		315		22,362
Henkel AG & Co. KGaA, 1.87%(E)		1,464		159,659
Porsche Automobil Holding SE, 3.24%(E)		1,280		75,561
Sartorius AG, 0.44%(E)		216		26,889
Volkswagen AG, 2.76%(E)		1,524		242,021
Total Preferred Stocks (Cost $556,215)				526,492
RIGHT - 0.0%(C)
Austria - 0.0%(C)
BUQOG AG,(A) (F) Exercise Price EUR 29, Expiration Date 12/31/2099		152		5,048
Total Right (Cost $4,530)				5,048

	Principal		Value
U.S. GOVERNMENT OBLIGATION - 44.1%
U.S. Treasury - 44.1%
U.S. Treasury Note 2.63%, 12/31/2023		$  88,658,000		$   89,122,036
Total U.S. Government Obligation (Cost $88,928,403)				89,122,036
	Shares		Value
OTHER INVESTMENT COMPANY - 1.5%
Securities Lending Collateral - 1.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 2.35%(E)		2,998,144		2,998,144
Total Other Investment Company (Cost $2,998,144)				2,998,144
	Principal		Value
REPURCHASE AGREEMENT - 0.9%
Fixed Income Clearing Corp., 1.45% (E), dated 12/31/2018, to be repurchased at $1,903,308 on 01/02/2019. Collateralized by a U.S. Government Obligation, 2.75%, due 06/30/2025, and with a value of $1,942,817.		$  1,903,154		1,903,154
Total Repurchase Agreement (Cost $1,903,154)				1,903,154
Total Investments (Cost $212,062,350)				201,497,914
Net Other Assets (Liabilities) - 0.3%				692,161
Net Assets - 100.0%				$  202,190,075

FUTURES CONTRACTS:

Description	Long/Short		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation		Unrealized Depreciation
5-Year U.S. Treasury Note		Long		9		03/29/2019	$	1,030,646	$	1,032,188	$	1,542	$	—
MSCI EAFE Index		Long		54		03/15/2019		4,627,603		4,633,200		5,597		—
Total											$	7,139	$	—

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    41

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

INVESTMENTS BY INDUSTRY (unaudited):

Industry	Percentage of Total Investments			Value
U.S. Government Obligation		44.2	%	$	89,122,036
Banks		5.7			11,553,629
Pharmaceuticals		4.4			8,794,310
Oil, Gas & Consumable Fuels		2.9			5,900,947
Insurance		2.8			5,577,551
Automobiles		1.9			3,795,226
Food Products		1.8			3,668,640
Chemicals		1.7			3,490,480
Metals & Mining		1.7			3,316,911
Machinery		1.3			2,672,342
Beverages		1.3			2,538,743
Diversified Telecommunication Services		1.2			2,470,342
Personal Products		1.2			2,426,690
Real Estate Management & Development		1.2			2,423,209
Textiles, Apparel & Luxury Goods		1.1			2,277,947
Capital Markets		1.1			2,259,338
Electric Utilities		1.1			2,224,454
Equity Real Estate Investment Trusts		0.9			1,841,521
Hotels, Restaurants & Leisure		0.9			1,712,953
Food & Staples Retailing		0.8			1,691,463
Industrial Conglomerates		0.8			1,684,436
Electronic Equipment, Instruments & Components		0.8			1,657,234
Trading Companies & Distributors		0.8			1,574,608
Road & Rail		0.8			1,555,357
Wireless Telecommunication Services		0.8			1,549,197
Electrical Equipment		0.8			1,516,467
Software		0.7			1,482,780
Aerospace & Defense		0.7			1,408,225
Semiconductors & Semiconductor Equipment		0.7			1,392,892
Professional Services		0.7			1,362,043
Health Care Equipment & Supplies		0.7			1,346,551
Household Durables		0.7			1,325,552
Auto Components		0.6			1,203,200
Biotechnology		0.6			1,177,084
Tobacco		0.6			1,113,951
Multi-Utilities		0.5			1,078,774
IT Services		0.5			1,044,439
Construction & Engineering		0.5			1,040,516
Household Products		0.5			1,013,925
Building Products		0.5			912,738
Specialty Retail		0.4			868,747
Diversified Financial Services		0.4			796,245
Media		0.4			791,265
Technology Hardware, Storage & Peripherals		0.3			689,154
Entertainment		0.3			636,239
Commercial Services & Supplies		0.3			607,255
Multiline Retail		0.3			605,029
Health Care Providers & Services		0.3			591,435
Construction Materials		0.3			582,238
Transportation Infrastructure		0.3			519,674
Gas Utilities		0.2			477,302
Communications Equipment		0.2			473,720
Air Freight & Logistics		0.2			424,363
Paper & Forest Products		0.2			349,471
Leisure Products		0.2			331,108
Airlines		0.2			310,275

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    42

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

INVESTMENTS BY INDUSTRY (unaudited) (continued):

Industry	Percentage of Total Investments			Value
Life Sciences Tools & Services		0.1	%	$	266,116
Containers & Packaging		0.1			219,740
Marine		0.1			198,201
Internet & Direct Marketing Retail		0.1			153,295
Water Utilities		0.1			99,178
Energy Equipment & Services		0.1			97,132
Interactive Media & Services		0.0	(C)		78,362
Health Care Technology		0.0	(C)		61,113
Independent Power & Renewable Electricity Producers		0.0	(C)		60,843
Consumer Finance		0.0	(C)		49,103
Distributors		0.0	(C)		33,259
Diversified Consumer Services		0.0	(C)		28,053
Investments		97.6			196,596,616
Short-Term Investments		2.4			4,901,298
Total Investments		100.0	%	$	201,497,914

SECURITY VALUATION:

Valuation Inputs^(G)

	Level 1 -  Unadjusted Quoted Prices		Level 2 -  Other Significant Observable Inputs		Level 3 -  Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	988,243	$	105,954,797	$	—	$	106,943,040
Preferred Stocks		—		526,492		—		526,492
Right		—		5,048		—		5,048
U.S. Government Obligation		—		89,122,036		—		89,122,036
Other Investment Company		2,998,144		—		—		2,998,144
Repurchase Agreement		—		1,903,154		—		1,903,154
Total Investments	$	3,986,387	$	197,511,527	$	—	$	201,497,914
Other Financial Instruments
Futures Contracts(H)	$	7,139	$	—	$	—	$	7,139
Total Other Financial Instruments	$	7,139	$	—	$	—	$	7,139

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $2,850,209. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(C)	Percentage rounds to less than 0.1% or (0.1)%.
(D)	Securities are registered pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2018, the total value of 144A securities is $658,798, representing 0.3% of the Fund‘s net assets.
(E)	Rates disclosed reflect the yields at December 31, 2018.
(F)	Illiquid security. At December 31, 2018, the value of such securities amounted to $5,048, representing less than 0.1% of the Fund‘s net assets.
(G)	There were no transfers in or out of Level 3 during the year ended December 31, 2018. Please reference the Security Valuation section of the Notes to Financial Statements for more information regarding security valuation and pricing inputs.
(H)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    43

DeltaShares^® S&P International Managed Risk ETF

SCHEDULE OF INVESTMENTS (continued)

At December 31, 2018

CURRENCY ABBREVIATION:

EUR Euro

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
CDI	CHESS Depositary Interests
CVA	Commanditaire Vennootschap op Aandelen (Dutch Certificate)
EAFE	Europe, Australasia and Far East
REIT	Real Estate Investment Trust
SDR	Swedish Depositary Receipt

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    44

STATEMENTS OF ASSETS AND LIABILITIES

At December 31, 2018

	DeltaShares® S&P 400 Managed Risk ETF			DeltaShares® S&P 500 Managed Risk ETF			DeltaShares® S&P 600 Managed Risk ETF			DeltaShares® S&P International Managed Risk  ETF
Assets:
Investments, at value(A) (B)	$	102,305,452		$	381,724,413		$	40,353,140		$	199,594,760
Repurchase agreements, at value(C)		453,571			1,304,854			176,522			1,903,154
Cash collateral pledged at broker for:
Futures contracts		60,760			187,013			21,980			249,120
Foreign currency, at value(D)		—			—			—			100,010
Receivables and other assets:
Investments sold		69,947,431			252,194,072			28,160,863			91,214,080
Net income from securities lending		672			70			693			3,609
Shares of beneficial interest sold		2,415,227			—			—			2,239,265
Dividends and/or distributions		50,629			246,310			21,412			158,427
Interest		4,670			16,882			1,882			6,016
Tax reclaims		—			—			—			178,499
Variation margin receivable on futures contracts		81,101			671,891			45,556			—
Total assets		175,319,513			636,345,505			68,782,048			295,646,940
Liabilities:
Cash collateral received upon return of:
Securities on loan		1,340,258			123,723			567,901			2,998,144
Payables and other liabilities:
Investments purchased		70,096,536			249,347,996			27,924,354			90,288,298
Investment management fees		38,706			115,608			15,656			85,514
Variation margin payable on futures contracts		—			—			—			84,909
Total liabilities		71,475,500			249,587,327			28,507,911			93,456,865
Net assets	$	103,844,013		$	386,758,178		$	40,274,137		$	202,190,075
Net assets consist of:
Paid-in capital	$	114,101,259		$	409,090,676		$	46,057,003		$	224,679,898
Total distributable earnings (accumulated losses)		(10,257,246	)		(22,332,498	)		(5,782,866	)		(22,489,823	)
Net assets	$	103,844,013		$	386,758,178		$	40,274,137		$	202,190,075
Shares outstanding		2,150,000			7,550,000			800,000			4,500,000
Net asset value per share	$	48.30		$	51.23		$	50.34		$	44.93
(A) Investments, at cost	$	104,026,438		$	382,260,571		$	41,448,493		$	210,159,196
(B) Securities on loan, at value	$	1,307,891		$	120,706		$	550,739		$	2,850,209
(C) Repurchase agreements, at cost	$	453,571		$	1,304,854		$	176,522		$	1,903,154
(D) Foreign currency, at cost	$	—		$	—		$	—		$	99,695

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    45

STATEMENTS OF OPERATIONS

For the year ended December 31, 2018

	DeltaShares® S&P 400 Managed Risk ETF			DeltaShares® S&P 500 Managed Risk ETF			DeltaShares® S&P 600 Managed Risk ETF			DeltaShares® S&P International Managed Risk  ETF
Investment Income:
Dividend income	$	1,408,872		$	6,842,274		$	503,476		$	7,196,878
Interest income		398,826			1,537,518			193,141			280,026
Non-cash dividend income		98,191			—			—			—
Net income from securities lending		36,804			40,204			32,032			100,092
Withholding taxes on foreign income		(885	)		—			(69	)		(628,846	)
Total investment income		1,941,808			8,419,996			728,580			6,948,150
Expenses:
Investment management fees		519,626			1,470,125			215,484			1,120,351
Total expenses		519,626			1,470,125			215,484			1,120,351
Net investment income (loss)		1,422,182			6,949,871			513,096			5,827,799
Net realized gain (loss) on:
Investments		(8,316,838	)		(20,461,324	)		(4,611,898	)		(10,960,762	)
In-kind redemptions		10,121,096			34,579,835			8,412,243			2,062,381
Futures contracts		(429,668	)		(1,554,889	)		(199,441	)		(924,806	)
Foreign currency transactions		(3	)		(15	)		—			(75,156	)
Net realized gain (loss)		1,374,587			12,563,607			3,600,904			(9,898,343	)
Net change in unrealized appreciation (depreciation) on:
Investments		(12,344,672	)		(31,330,227	)		(6,209,449	)		(25,168,089	)
Futures contracts		3,548			4,885			3,296			(21,071	)
Translation of assets and liabilities denominated in foreign currencies		—			—			—			(12,911	)
Net change in unrealized appreciation (depreciation)		(12,341,124	)		(31,325,342	)		(6,206,153	)		(25,202,071	)
Net realized and change in unrealized gain (loss)		(10,966,537	)		(18,761,735	)		(2,605,249	)		(35,100,414	)
Net increase (decrease) in net assets resulting from operations	$	(9,544,355	)	$	(11,811,864	)	$	(2,092,153	)	$	(29,272,615	)

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    46

STATEMENTS OF CHANGES IN NET ASSETS

For the years and periods ended:

	DeltaShares® S&P 400 Managed Risk ETF						DeltaShares® S&P 500 Managed Risk ETF						DeltaShares® S&P 600 Managed Risk ETF
	December 31, 2018			December 31, 2017 (A)			December 31, 2018			December 31, 2017 (A)			December 31, 2018			December 31, 2017 (A)
From operations:
Net investment income (loss)	$	1,422,182		$	618,205		$	6,949,871		$	2,586,002		$	513,096		$	252,105
Net realized gain (loss)		1,374,587			761,843			12,563,607			640,808			3,600,904			586,201
Net change in unrealized appreciation (depreciation)		(12,341,124	)		10,637,451			(31,325,342	)		30,854,017			(6,206,153	)		5,120,399
Net increase (decrease) in net assets resulting from operations		(9,544,355	)		12,017,499			(11,811,864	)		34,080,827			(2,092,153	)		5,958,705
Distributions(B):
Dividends and/or distributions to shareholders		(1,403,938	)		—			(6,986,427	)		—			(555,073	)		—
Dividends and/or distributions to shareholders from
Net investment income		—			(657,754	)		—			(2,669,883	)		—			(259,815	)
Net realized gains		—			(149,457	)		—			(111,926	)		—			(160,912	)
Total dividends and/or distributions to shareholders		(1,403,938	)		(807,211	)		(6,986,427	)		(2,781,809	)		(555,073	)		(420,727	)
Capital share transactions:
Proceeds from shares sold		70,966,612			131,262,410			280,974,489			396,016,172			45,414,201			61,596,412
Cost of shares redeemed		(88,168,320	)		(10,478,684	)		(294,728,315	)		(8,004,895	)		(61,823,421	)		(7,803,807	)
Net increase (decrease) in net assets resulting from capital share transactions		(17,201,708	)		120,783,726			(13,753,826	)		388,011,277			(16,409,220	)		53,792,605
Net increase (decrease) in net assets		(28,150,001	)		131,994,014			(32,552,117	)		419,310,295			(19,056,446	)		59,330,583
Net assets:
Beginning of year		131,994,014			—			419,310,295			—			59,330,583			—
End of year	$	103,844,013		$	131,994,014		$	386,758,178		$	419,310,295		$	40,274,137		$	59,330,583
Undistributed (distributions in excess of) net investment income (loss)(B)		—		$	—			—		$	—			—		$	—
Capital share transactions - shares:
Shares issued		1,300,000			2,650,000			5,050,000			7,902,000			800,000			1,250,000
Shares redeemed		(1,600,000	)		(200,000	)		(5,250,000	)		(152,000	)		(1,100,000	)		(150,000	)
Net increase (decrease) in shares outstanding		(300,000	)		2,450,000			(200,000	)		7,750,000			(300,000	)		1,100,000

(A)	Commenced operations on July 31, 2017.
(B)	The sources of distributions to shareholders and the amount of undistributed net investment income are no longer required disclosures for the year ended December 31, 2018 due to the SEC RegulationS-X updates effective November 5, 2018. Please reference the New Accounting Pronouncements section of the Notes to Financial Statements for additional information.

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    47

STATEMENTS OF CHANGES IN NET ASSETS (continued)

For the years and periods ended:

	DeltaShares® S&P International Managed Risk ETF
	December 31, 2018			December 31, 2017 (A)
From operations:
Net investment income (loss)	$	5,827,799		$	1,356,561
Net realized gain (loss)		(9,898,343	)		71,899
Net change in unrealized appreciation (depreciation)		(25,202,071	)		14,639,526
Net increase (decrease) in net assets resulting from operations		(29,272,615	)		16,067,986
Distributions(B):
Dividends and/or distributions to shareholders		(5,925,145	)		—
Dividends and/or distributions to shareholders from
Net investment income		—			(1,565,012	)
Net realized gains		—			(27,848	)
Total dividends and/or distributions to shareholders		(5,925,145	)		(1,592,860	)
Capital share transactions:
Proceeds from shares sold		14,936,476			229,932,452
Cost of shares redeemed		(21,956,219	)		—
Net increase (decrease) in net assets resulting from capital share transactions		(7,019,743	)		229,932,452
Net increase (decrease) in net assets		(42,217,503	)		244,407,578
Net assets:
Beginning of year		244,407,578			—
End of year	$	202,190,075		$	244,407,578
Undistributed (distributions in excess of) net investment income (loss)(B)		—		$	(201,079	)
Capital share transactions - shares:
Shares issued		300,000			4,600,000
Shares redeemed		(400,000	)		—
Net increase (decrease) in shares outstanding		(100,000	)		4,600,000

(A)	Commenced operations on July 31, 2017.
(B)	The sources of distributions to shareholders and the amount of undistributed net investment income are no longer required disclosures for the year ended December 31, 2018 due to the SEC RegulationS-X updates effective November 5, 2018. Please reference the New Accounting Pronouncements section of the Notes to Financial Statements for additional information.

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    48

FINANCIAL HIGHLIGHTS

For a share outstanding during the period and year indicated:	DeltaShares® S&P 400  Managed Risk ETF
	December 31, 2018			December 31,   2017 (A)
Net asset value, beginning of period/year	$	53.88		$	50.00
Investment operations:
Net investment income (loss) (B)		0.66			0.27
Net realized and unrealized gain (loss)		(5.58	)		3.94
Total investment operations		(4.92	)		4.21
Dividends and/or distributions to shareholders:
Net investment income		(0.66	)		(0.27	)
Net realized gains		—			(0.06	)
Total dividends and/or distributions to shareholders		(0.66	)		(0.33	)
Net asset value, end of period/year	$	48.30		$	53.88
Total return		(9.19	)%		8.42	%(C)
Ratio and supplemental data:
Net assets end of period/year (000’s)	$	103,844		$	131,994
Expenses to average net assets		0.45	%		0.45	%(D)
Net investment income (loss) to average net assets		1.23	%		1.25	%(D)
Portfolio turnover rate (E)		435	%		6	%(C)

(A)	Commenced operations on July 31, 2017.
(B)	Calculated based on average number of shares outstanding.
(C)	Not annualized.
(D)	Annualized.
(E)	Excludes investment securities received or delivered as a result of processingin-kind issuances or redemptions of capital share transactions in creation units.

For a share outstanding during the period and year indicated:	DeltaShares® S&P 500  Managed Risk ETF
	December 31, 2018			December 31,   2017 (A)
Net asset value, beginning of period/year	$	54.10		$	50.00
Investment operations:
Net investment income (loss) (B)		0.91			0.36
Net realized and unrealized gain (loss)		(2.86	)		4.09
Total investment operations		(1.95	)		4.45
Dividends and/or distributions to shareholders:
Net investment income		(0.91	)		(0.34	)
Net realized gains		(0.01	)		(0.01	)
Total dividends and/or distributions to shareholders		(0.92	)		(0.35	)
Net asset value, end of period/year	$	51.23		$	54.10
Total return		(3.68	)%		8.94	%(C)
Ratio and supplemental data:
Net assets end of period/year (000’s)	$	386,758		$	419,310
Expenses to average net assets		0.35	%		0.35	%(D)
Net investment income (loss) to average net assets		1.65	%		1.64	%(D)
Portfolio turnover rate (E)		430	%		2	%(C)

(A)	Commenced operations on July 31, 2017.
(B)	Calculated based on average number of shares outstanding.
(C)	Not annualized.
(D)	Annualized.
(E)	Excludes investment securities received or delivered as a result of processingin-kind issuances or redemptions of capital share transactions in creation units.

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    49

FINANCIAL HIGHLIGHTS (continued)

For a share outstanding during the period and year indicated:	DeltaShares® S&P 600 Managed Risk ETF
	December 31, 2018			December 31, 2017 (A)
Net asset value, beginning of period/year	$	53.94		$	50.00
Investment operations:
Net investment income (loss) (B)		0.59			0.24
Net realized and unrealized gain (loss)		(3.52	)		4.09
Total investment operations		(2.93	)		4.33
Dividends and/or distributions to shareholders:
Net investment income		(0.64	)		(0.24	)
Net realized gains		(0.03	)		(0.15	)
Total dividends and/or distributions to shareholders		(0.67	)		(0.39	)
Net asset value, end of period/year	$	50.34		$	53.94
Total return		(5.47	)%		8.65	%(C)
Ratio and supplemental data:
Net assets end of period/year (000’s)	$	40,274		$	59,331
Expenses to average net assets		0.45	%		0.45	%(D)
Net investment income (loss) to average net assets		1.07	%		1.12	%(D)
Portfolio turnover rate (E)		448	%		21	%(C)

(A)	Commenced operations on July 31, 2017.
(B)	Calculated based on average number of shares outstanding.
(C)	Not annualized.
(D)	Annualized.
(E)	Excludes investment securities received or delivered as a result of processingin-kind issuances or redemptions of capital share transactions in creation units.

For a share outstanding during the period and year indicated:	DeltaShares® S&P  International Managed Risk ETF
	December 31, 2018			December 31, 2017 (A)
Net asset value, beginning of period/year	$	53.13		$	50.00
Investment operations:
Net investment income (loss) (B)		1.33			0.32
Net realized and unrealized gain (loss)		(8.15	)		3.16
Total investment operations		(6.82	)		3.48
Dividends and/or distributions to shareholders:
Net investment income		(1.37	)		(0.34	)
Net realized gains		(0.01	)		(0.01	)
Total dividends and/or distributions to shareholders		(1.38	)		(0.35	)
Net asset value, end of period/year	$	44.93		$	53.13
Total return		(13.09	)%		6.97	%(C)
Ratio and supplemental data:
Net assets end of period/year (000’s)	$	202,190		$	244,408
Expenses to average net assets		0.50	%		0.50	%(D)
Net investment income (loss) to average net assets		2.60	%		1.47	%(D)
Portfolio turnover rate (E)		189	%		3	%(C)

(A)	Commenced operations on July 31, 2017.
(B)	Calculated based on average number of shares outstanding.
(C)	Not annualized.
(D)	Annualized.
(E)	Excludes investment securities received or delivered as a result of processingin-kind issuances or redemptions of capital share transactions in creation units.

The Notes to Financial Statements are an integral part of this report.

Transamerica ETF Trust Annual Report 2018

Page    50

NOTES TO FINANCIAL STATEMENTS

At December 31, 2018

1. ORGANIZATION

Transamerica ETF Trust (the “Trust”) is anopen-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and was organized as a Delaware statutory trust dated May 5, 2016. The Trust applies investment company accounting and reporting guidance. The funds covered by this report (each, a “Fund” and collectively, the “Funds”) are each a series of the Trust and are as follows:

Fund

DeltaShares^®S&P 400 Managed Risk ETF (“S&P 400 Managed Risk”)

DeltaShares^®S&P 500 Managed Risk ETF (“S&P 500 Managed Risk”)

DeltaShares^®S&P 600 Managed Risk ETF (“S&P 600 Managed Risk”)

DeltaShares^®S&P International Managed Risk ETF (“S&P International Managed Risk”)

Each Fund is classified as a“non-diversified” investment company under the 1940 Act.

The investment objective of each Fund seeks to track the investment results, before fees and expenses, of its respective index listed below (each, an “Underlying Index”). Each Fund uses a “passive” or index approach to try to achieve its investment objective.

Fund	Underlying Index
S&P 400 Managed Risk	S&P 400® Managed Risk 2.0 Index
S&P 500 Managed Risk	S&P 500® Managed Risk 2.0 Index
S&P 600 Managed Risk	S&P 600® Managed Risk 2.0 Index
S&P International Managed Risk	S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index

This report must be accompanied or preceded by each Fund’s current prospectus, which contains additional information about the Funds, including risks, as well as investment objectives and strategies.

Transamerica Asset Management, Inc. (“TAM”) serves as investment manager for the Funds pursuant to an investment management agreement. TAM provides continuous and regular investment management services to the Funds. TAM supervises each Fund’s investments, conducts its investment program and provides supervisory, compliance and administrative services to the Funds.

TAM currently acts as a “manager of managers” and has hired Milliman Financial Risk Management LLC as thesub-adviser to furnishday-to-day investment advice and recommendations. TAM may, in the future, determine to provide all aspects of theday-to-day management of a Fund without the use of asub-adviser. When acting as a manager of managers, TAM provides investment management services that include, without limitation, the design and development of the Funds and their investment strategies and the ongoing review and evaluation of those investment strategies including recommending changes in strategy where it believes appropriate or advisable; the selection of one or moresub-advisers for the Funds employing a combination of quantitative and qualitative screens, research, analysis and due diligence; negotiation ofsub-advisory agreements and fees; oversight and monitoring ofsub-advisers and recommending changes tosub-advisers where it believes appropriate or advisable; recommending fund combinations and liquidations where it believes appropriate or advisable; selection and oversight of transition managers, as needed; regular supervision of the Funds’ investments; regular review and evaluation ofsub-adviser performance; daily monitoring of thesub-advisers’ buying and selling of securities for the Funds; regular review of holdings; ongoing trade oversight and analysis; regular monitoring to ensure adherence to investment process; regular calls and periodicon-site visits withsub-advisers; risk management oversight and analysis; oversight of negotiation of investment documentation and agreements; design, development, implementation and regular monitoring of the valuation process; periodic due diligence reviews of pricing vendors and vendor methodology; design, development, implementation and regular monitoring of the compliance process; respond to regulatory inquiries and determine appropriate litigation strategy, as needed; review of proxies voted bysub-advisers; oversight of preparation, and review, of materials for meetings of the Funds’ Board of Trustees (the “Board”), participation in these meetings and preparation of regular communications with the Board; oversight of preparation, and review, of prospectuses, shareholder reports and other disclosure materials and regulatory filings for the Funds; oversight of other service providers to the Funds, such as the custodian, the transfer agent, the Funds’ independent accounting firm and legal counsel; supervision of the performance of recordkeeping and shareholder relations functions for the Funds; and oversight of cash management services. TAM uses a variety of quantitative and qualitative tools to carry out its investment management services. TAM, not the Funds, is responsible for paying thesub-adviser(s) for their services, andsub-advisory fees are TAM’s expense.

TAM’s investment management services also include the provision of supervisory and administrative services to the Funds. These services include performing certain administrative services for the Funds and supervising and overseeing the administrative, clerical, recordkeeping and bookkeeping services provided to the Funds by State Street Bank and Trust Company (“State Street”), to whom TAM has outsourced the provision of certain services as described below: to the extent agreed upon by TAM and the Funds from time to time, monitoring and verifying the custodian’s daily calculation of the Net Asset Values (“NAV”); shareholder relations functions;

Transamerica ETF Trust Annual Report 2018

Page    51

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

1. ORGANIZATION (continued)

compliance services; valuation services; assisting in due diligence and in the oversight and monitoring of certain activities ofsub-advisers and certain aspects of Fund investments; assisting with Fund combinations and liquidations; oversight of the preparation and filing, and review, of all returns and reports, in connection with federal, state and local taxes; oversight and review of regulatory reporting; supervising and coordinating the Funds’ custodian and dividend disbursing agent and monitoring their services to the Funds; assisting the Funds in preparing reports to shareholders; acting as liaison with the Funds’ independent public accountants and providing, upon request, analyses, fiscal year summaries and other audit related services; assisting in the preparation of agendas and supporting documents for and minutes of meetings of trustees and committees of trustees; assisting in the preparation of regular communications with the trustees; and providing personnel and office space, telephones and other office equipment as necessary in order for TAM to perform supervisory and administrative services to the Funds.

2. SIGNIFICANT ACCOUNTING POLICIES

In preparing the Funds’ financial statements in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), estimates or assumptions (which could differ from actual results) may be used that affect reported amounts and disclosures. The following is a summary of significant accounting policies followed by the Funds.

Foreign currency denominated investments:The accounting records of the Funds are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the closing exchange rate each day. The cost of foreign securities purchased and any realized gains or losses are translated at the prevailing exchange rates in effect on the date of the respective transaction. Each Fund combines fluctuations from currency exchange rates and fluctuations in value when computing net realized and unrealized gains or losses from investments.

Net foreign currency gains and losses resulting from changes in exchange rates include, foreign currency fluctuations between trade date and settlement date of investment security transactions, gains and losses on forward foreign currency contracts, and thedifference between the receivable amounts of interest and dividends recorded in the accounting records in U.S. dollars and the amounts actually received.

Foreign currency denominated assets may involve risks not typically associated with domestic transactions. These risks include revaluation of currencies, adverse fluctuations in foreign currency values, and possible adverse political, social, and economic developments, including those particular to a specific industry, country or region.

Security transactions and investment income: Security transactions are accounted for on the trade date. Security gains and losses are calculated on the specific identification basis. Dividend income, if any, is recorded on theex-dividend date or, in the case of foreign securities, as soon as the Funds are informed of theex-dividend dates, net of foreign taxes. Interest income, if any, including accretion of discounts and amortization of premiums, is recorded on the accrual basis commencing on the settlement date.

Distributions to shareholders:Distributions are recorded on theex-dividend date and are determined in accordance with federal income tax regulations, which may differ from GAAP.

Foreign taxes:The Funds may be subject to taxes imposed by the countries in which they invest, with respect to their investments in issuers existing or operating in such countries. The Funds may also be subject to foreign taxes on income, gains on investments, or currency repatriation, a portion of which may be recoverable. The Funds accrue such taxes and recoveries as applicable when the related income or capital gains are earned or unrealized, and based upon the current interpretation of tax rules and regulations that exist in the markets in which the Funds invest. Some countries require governmental approval for the repatriation of investment income, capital, or the proceeds of sales earned by foreign investors. In addition, if there is deterioration in a country’s balance of payments or for other reasons, a country may impose temporary restrictions of foreign capital remittances abroad.

Indemnification:In the normal course of business, the Funds enter into contracts that contain a variety of representations that provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds and/or their affiliates that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

3. SECURITY VALUATION

All investments in securities are recorded at their estimated fair value. The Funds value their investments at the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

Transamerica ETF Trust Annual Report 2018

Page    52

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

3. SECURITY VALUATION (continued)

The Funds utilize various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:

Level 1—Unadjusted quoted prices in active markets for identical securities.

Level 2—Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3—Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include the Funds’ own assumptions used in determining the fair value of investments and derivative instruments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using NAV per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Funds’ investments at December 31, 2018, is disclosed within the Security Valuation section of each Fund’s Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Funds’ significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Equity securities: Securities are stated at the last reported sales price or closing price on the day of valuation taken from the primary exchange where the security is principally traded. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Equities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or Level 3 if inputs are unobservable.

Foreign equity securities: Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, ETFs and the movement of the certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

Rights: Rights may be priced intrinsically using a model that incorporates the subscription or strike price, the daily market price for the underlying security, and a subscription ratio. If the inputs are unavailable, or if the subscription or strike price is higher than the market price, then the rights are priced at zero. Rights are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Contingent value rights (“CVR”): CVRs for which quotations are not readily available are valued at fair value as determined in good faith by the Valuation Committee under the supervision of the Board. CVRs are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data relating to the issuer. Depending on the relative significance of observable valuation inputs, these investments may be classified in either Level 2 or Level 3 of the fair value hierarchy.

Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.

Transamerica ETF Trust Annual Report 2018

Page    53

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

3. SECURITY VALUATION (continued)

Securities lending collateral:Securities lending collateral is invested in a money market fund which is valued at the NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy.Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Funds using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.

4. SECURITIES AND OTHER INVESTMENTS

Contingent value rights: The Trust may invest in CVRs, which is a type of right given to investors of an acquired company (or a company facing major restructuring) that ensures additional benefit if a specified event occurs. A CVR often has an expiration date that relates to the time the contingent event must occur. CVRs generally lack liquidity since most are nontransferable and a large number of legal and other issues can arise when negotiating and implementing these instruments.

CVRs held at December 31, 2018, if any, are identified within the Schedule of Investments.

Real estate investment trusts (“REIT”):REITs are pooled investment vehicles which invest primarily in income producing real estate, or real estate related loans or interests. Distributions received by REITs are classified at management’s estimate of the dividend income, return of capital and capital gains. Estimates are based on information available atyear-end, which includes the previous fiscal year’s classification. The actual amounts of dividend income, return of capital, and capital gains are only determined by each REIT after the fiscal year end and may differ from the estimated amounts. Upon notification from the REITs, some of the distributions received may bere-classified and recorded as a return of capital or capital gains. There are certain additional risks involved in investing in REITs. These include, but are not limited to, economic conditions, changes in zoning laws, real estate values, property taxes, and interest rates.

REITs held at December 31, 2018, if any, are identified within the Schedule of Investments.

5. BORROWINGS AND OTHER FINANCING TRANSACTIONS

The Funds may engage in borrowing transactions as a means of raising cash to satisfy redemption requests, for other temporary or emergency purposes or, to the extent permitted by their investment policies, to raise additional cash to be invested in other securities or instruments.When the Funds invest borrowing proceeds in other securities, the Funds will bear the risk that the market value of the securities in which such proceeds are invested goes down and is insufficient to repay the borrowed proceeds. The Funds may borrow on a secured or on an unsecured basis. If the Funds enter into a secured borrowing arrangement, a portion of the Funds’ assets will be used as collateral. The 1940 Act requires the Funds to maintain asset coverage of at least 300% of the amount of their borrowings. Asset coverage means the ratio that the value of the Funds’ total assets, minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. Although complying with this requirement has the effect of limiting the amount that the Funds may borrow, it does not otherwise mitigate the risks of entering into borrowing transactions.

Repurchase agreements:In a repurchase agreement, the Fund purchases a security and simultaneously commits to resell that security to the seller at an agreed-upon price on an agreed-upon date.Securities purchased subject to a repurchase agreement are held at the Fund’s custodian, or designatedsub-custodian related totri-party repurchase agreements, and, pursuant to the terms of the repurchase agreement, must be collateralized by securities with an aggregate market value greater than or equal to 100% of the resale price. The Fund will bear the risk of value fluctuations until the securities can be sold and may encounter delays and incur costs in liquidating the securities. In the event of bankruptcy or insolvency of the seller, delays and costs may be incurred.

Repurchase agreements are subject to netting agreements, which are agreements between the Fund and its counterparties that provide for the net settlement of all transactions and collateral with the Fund, through a single payment, in the event of default or termination. Amounts presented within the Schedule of Investments, and as part of Repurchase agreements, at value within the

Transamerica ETF Trust Annual Report 2018

Page    54

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

5. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

Statement of Assets and Liabilities are shown on a gross basis. The value of the related collateral for each repurchase agreement, as reflected within the Schedule of Investments, exceeds the value of each repurchase agreement at December 31, 2018.

Repurchase agreements at December 31, 2018, if any, are included within the Schedule of Investments and Statement of Assets and Liabilities.

Securities lending:Securities are lent to qualified financial institutions and brokers. State Street serves as securities lending agent to the Funds pursuant to a Securities Lending Agreement. The lending of securities exposes the Funds to risks such as, the borrowers may fail to return the loaned securities, the borrowers may not be able to provide additional collateral, the Funds may experience delays in recovery of the loaned securities or delays in access to collateral, or the Funds may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge cash collateral with a value of at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities loaned. The lending agent has agreed to indemnify the Funds in the case of default of any securities borrower.

Cash collateral received is invested in the State Street Navigator Securities Lending Trust – Government Money Market Portfolio, a money market mutual fund registered under the 1940 Act. By lending securities, the Funds seek to increase their net investment income through the receipt of interest and fees. Such income is reflected in Net income from securities lending within the Statements of Operations and is net of fees and rebates earned by the lending agent for its services.

The value of loaned securities and related collateral outstanding at December 31, 2018, if any, are shown on a gross basis within the Schedule of Investments and Statements of Assets and Liabilities.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of December 31, 2018.

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
S&P 400 Managed Risk
Securities Lending Transactions
Common Stocks	$	1,340,258	$	—	$	—	$	—	$	1,340,258
Total Borrowings	$	1,340,258	$	—	$	—	$	—	$	1,340,258
S&P 500 Managed Risk
Securities Lending Transactions
Common Stocks	$	123,723	$	—	$	—	$	—	$	123,723
Total Borrowings	$	123,723	$	—	$	—	$	—	$	123,723
S&P 600 Managed Risk
Securities Lending Transactions
Common Stocks	$	567,901	$	—	$	—	$	—	$	567,901
Total Borrowings	$	567,901	$	—	$	—	$	—	$	567,901
S&P International Managed Risk
Securities Lending Transactions
Common Stocks	$	2,998,144	$	—	$	—	$	—	$	2,998,144
Total Borrowings	$	2,998,144	$	—	$	—	$	—	$	2,998,144

6. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS

The Funds’ investment objectives allow the Funds to use various types of derivative contracts, including option contracts, swap agreements, futures contracts, and forward foreign currency contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or OTC.

Market Risk Factors:In pursuit of the Funds’ investment objectives, the Funds may seek to use derivatives. The Funds’ use of derivatives may increase or decrease their exposure to the following market risks:

Interest rate risk:Interest rate risk relates to the fluctuations in the value of fixed income securities due to changes in the prevailing levels of market interest rates.

Transamerica ETF Trust Annual Report 2018

Page    55

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

6. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS (continued)

Foreign exchange rate risk:Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in the currency exchange rates.

Equity risk:Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market.

Credit risk:Credit risk relates to the ability of the issuer of a financial instrument to make further principal or interest payments on an obligation or commitment that it has to the Funds.

Commodity risk:Commodity risk relates to the change in value of commodities or commodity indices as they relate to increases or decreases in the commodities market. Commodities are physical assets that have tangible properties. Examples of these types of assets are crude oil, heating oil, metals, livestock, and agricultural products.

The Funds are also exposed to additional risks from investing in derivatives, such as liquidity and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to sell or close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligations to the Funds. Investing in derivatives may also involve greater risks than investing directly in the underlying assets, such as losses in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

The Funds’ exposure to market risk factors and certain other associated risks are summarized by derivative type as follows:

Futures contracts:The Funds are subject to equity and commodity risk, interest rate risk, and foreign exchange rate risk in the normal course of pursuing their investment objectives. A Fund may use futures contracts to enhance the Fund’s ability to track its Underlying Index. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. Upon entering into such contracts, the Funds are required to deposit with the broker, either in cash or in securities, an initial margin in an amount equal to a certain percentage of the contract amount. Subsequent payments (variation margin) are paid or received by the Funds, depending on the daily fluctuations in the value of the contract, and are recorded for financial statement purposes as unrealized gains or losses by the Funds. Upon entering into such contracts, the Funds bear the risk of equity and commodity prices, interest rates, or exchange rates moving unexpectedly, in which case, the Funds may not achieve the anticipated benefits of the futures contracts and may realize losses. With futures, there is minimal counterparty credit risk to the Funds since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange.

Open futures contracts at December 31, 2018, if any, are listed within the Schedule of Investments. Variation margin, if applicable, is shown in Variation margin receivable or payable on futures contracts within the Statements of Assets and Liabilities.

The following is a summary of the location and each Fund’s fair values of derivative investments disclosed, if any, within the Statements of Assets and Liabilities, categorized by primary market risk exposure as of December 31, 2018.

Asset Derivatives
Fund/Location	Interest Rate Contracts		Foreign Exchange Contracts		Equity Contracts		Credit Contracts		Commodity Contracts		Total
S&P 400 Managed Risk
Futures contracts:
Total distributable earnings (accumulated losses) (A) (B)	$	503	$	—	$	16,810	$	—	$	—	$	17,313
Total	$	503	$	—	$	16,810	$	—	$	—	$	17,313
S&P 500 Managed Risk
Futures contracts:
Total distributable earnings (accumulated losses) (A) (B)	$	326	$	—	$	64,507	$	—	$	—	$	64,833
Total	$	326	$	—	$	64,507	$	—	$	—	$	64,833
S&P 600 Managed Risk
Futures contracts:
Total distributable earnings (accumulated losses) (A) (B)	$	29	$	—	$	9,570	$	—	$	—	$	9,599
Total	$	29	$	—	$	9,570	$	—	$	—	$	9,599

Transamerica ETF Trust Annual Report 2018

Page    56

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

6. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS (continued)

Asset Derivatives
Fund/Location	Interest Rate Contracts		Foreign Exchange Contracts		Equity Contracts		Credit Contracts		Commodity Contracts		Total
S&P International Managed Risk
Futures contracts:
Total distributable earnings (accumulated losses)(A) (B)	$	1,542	$	—	$	5,597	$	—	$	—	$	7,139
Total	$	1,542	$	—	$	5,597	$	—	$	—	$	7,139

(A)	May include exchange-traded derivatives which are not subject to a master netting arrangement, or another similar arrangement.
(B)	Included within Unrealized Appreciation (Depreciation) on futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.

The following is a summary of the location and the effect of derivative investments, if any, within the Statements of Operations, categorized by primary market risk exposure as of December 31, 2018.

Realized Gain (Loss) on Derivative Instruments
Fund/Location	Interest Rate Contracts			Foreign Exchange Contracts		Equity Contracts			Credit Contracts		Commodity Contracts		Total
S&P 400 Managed Risk
Futures contracts	$	(714	)	$	—	$	(428,954	)	$	—	$	—	$	(429,668	)
Total	$	(714	)	$	—	$	(428,954	)	$	—	$	—	$	(429,668	)
S&P 500 Managed Risk
Futures contracts	$	(845	)	$	—	$	(1,554,044	)	$	—	$	—	$	(1,554,889	)
Total	$	(845	)	$	—	$	(1,554,044	)	$	—	$	—	$	(1,554,889	)
S&P 600 Managed Risk
Futures contracts	$	(348	)	$	—	$	(199,093	)	$	—	$	—	$	(199,441	)
Total	$	(348	)	$	—	$	(199,093	)	$	—	$	—	$	(199,441	)
S&P International Managed Risk
Futures contracts	$	(1,571	)	$	—	$	(923,235	)	$	—	$	—	$	(924,806	)
Total	$	(1,571	)	$	—	$	(923,235	)	$	—	$	—	$	(924,806	)

Net Change in Unrealized Appreciation (Depreciation) on Derivative Instruments
Fund/Location	Interest Rate Contracts		Foreign Exchange Contracts		Equity Contracts			Credit Contracts		Commodity Contracts		Total
S&P 400 Managed Risk
Futures contracts	$	503	$	—	$	3,045		$	—	$	—	$	3,548
Total	$	503	$	—	$	3,045		$	—	$	—	$	3,548
S&P 500 Managed Risk
Futures contracts	$	326	$	—	$	4,559		$	—	$	—	$	4,885
Total	$	326	$	—	$	4,559		$	—	$	—	$	4,885
S&P 600 Managed Risk
Futures contracts	$	29	$	—	$	3,267		$	—	$	—	$	3,296
Total	$	29	$	—	$	3,267		$	—	$	—	$	3,296
S&P International Managed Risk
Futures contracts	$	1,542	$	—	$	(22,613	)	$	—	$	—	$	(21,071	)
Total	$	1,542	$	—	$	(22,613	)	$	—	$	—	$	(21,071	)

Transamerica ETF Trust Annual Report 2018

Page    57

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

6. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS (continued)

The following is a summary of the ending monthly average volume on derivative activity during the year ended December 31, 2018.

	Futures Contracts at Notional Amount
Fund	Long		Short
S&P 400 Managed Risk	$	1,351,208	$	—
S&P 500 Managed Risk		4,023,245		—
S&P 600 Managed Risk		570,277		—
S&P International Managed Risk		2,568,880		—

Collateral requirements: Collateral or margin requirements are set by the broker or exchange clearing house for exchange-traded derivatives (futures contracts, exchange-traded options, and exchange-traded swap agreements) while collateral terms are contract specific for OTC derivatives (forward foreign currency exchange contracts, OTC options, and OTC swap agreements). For OTC derivatives, under standard derivatives agreements, the Funds may be required to post collateral on derivatives if the Funds are in a net liability position with the counterparty exceeding certain amounts. Additionally, counterparties may immediately terminate derivatives contracts if the Funds fails to maintain sufficient asset coverage for its contracts or its net assets decline by stated percentages.

For financial reporting purposes, cash collateral that has been pledged or received at the custodian and/or broker to cover obligations of each Fund, if any, is reported separately in Cash collateral pledged at custodian and/or broker, and Cash collateral received by the broker within the Statements of Assets and Liabilities. Non-cash collateral pledged to each Fund, if any, is disclosed within the Schedule of Investments. Generally, the amount of collateral due from or to a party must exceed a minimum transfer amount threshold before a transfer has been made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance.

7. RISK FACTORS

Investing in the Funds involves certain key risks related to the Funds’ trading activity. Please reference the Funds’ prospectus for a more complete discussion of the following risks, as well as other risks of investing in the Funds.

Asset Allocation:The Underlying Indexes and, thus, the Funds allocate assets among equity and fixed income securities. These allocations and the timing of the allocations may result in performance that is less favorable than that of a portfolio that does not allocate its assets among equity and fixed income securities.

Foreign investment risk:Investing in securities of foreign issuers or issuers with significant exposure to foreign markets involves additional risk. Foreign countries in which the Fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the Fund’s investments may decline because of factors affecting a particular issuer as well as foreign markets and issuers generally, such as unfavorable or unsuccessful government actions, reduction of government or central bank support, political or financial instability or other adverse economic or political developments. Lack of information and weaker accounting standards also may affect the value of these securities.

Index tracking: While an index fund seeks to track the performance of its stated index (i.e. achieve a high degree of correlation with the index), an index fund’s return may not match the return of the index. An index fund incurs a number of operating expenses not applicable to the index, and incurs costs in buying and selling securities. In addition, an index fund may not be fully invested at times, generally as a result of cash flows or reserves of cash held by an index fund to meet redemptions. Thesub-adviser may attempt to replicate the index return by investing in fewer than all of the securities of the index, or in some securities not included in the index, potentially increasing the risk of divergence between an index fund’s return and that of its stated index.

Small and medium capitalization risk: Small or medium capitalization companies may be more at risk than large capitalization companies because, among other things, they may have limited product lines, operating history, market or financial resources, or because they may depend on a limited management group. The prices of securities of small and medium capitalization companies generally are more volatile than those of large capitalization companies and are more likely to be adversely affected than large capitalization companies by changes in earnings results and investor expectations or poor economic or market conditions. Securities of small and medium capitalization companies may underperform large capitalization companies, may be harder to sell at times and at prices the portfolio managers believe appropriate and may offer greater potential for losses.

8. FEES AND OTHER AFFILIATED TRANSACTIONS

TAM, the Funds’ investment manager, is directly owned by Transamerica Premier Life Insurance Company (“TPLIC”) and AUSA Holding Company (“AUSA”), both of which are indirect, wholly owned subsidiaries of Aegon NV. TPLIC is owned by Commonwealth

Transamerica ETF Trust Annual Report 2018

Page    58

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

8. FEES AND OTHER AFFILIATED TRANSACTIONS (continued)

General Corporation (“Commonwealth”) and Aegon USA, LLC (“Aegon USA”). Commonwealth and AUSA are wholly owned by Aegon USA. Aegon USA is wholly owned by Aegon US Holding Corporation, which is wholly owned by Transamerica Corporation (DE). Transamerica Corporation (DE) is wholly owned by The Aegon Trust, which is wholly owned by Aegon International B.V., which is wholly owned by Aegon NV, a Netherlands corporation, and a publicly traded international insurance group.

TAM is an affiliate of Aegon NV.

Certain officers and trustees of the Funds are also officers and/or trustees of TAM. No interested trustee, who is deemed an interested person due to current or former service with TAM or an affiliate of TAM, receives compensation from the Funds.

Investment management fees: TAM serves as the Funds’ investment manager, performing administration as well as investment advisory services. TAM renders investment advisory, supervisory, and administration services under an investment management agreement and each Fund pays a single management fee, which is reflected in Investment management fees within the Statements of Operations.

Each Fund pays a management fee to TAM based on daily Average Net Assets (“ANA”) at the following rates:

Fund	Rate
S&P 400 Managed Risk		0.45	%
S&P 500 Managed Risk		0.35
S&P 600 Managed Risk		0.45
S&P International Managed Risk		0.50

From time to time, TAM may waive all or a portion of its management fee. TAM pays all expenses of each Fund other than the investment management fee, distribution fee pursuant to each Fund’s distribution and service plan, if any, brokerage expenses, taxes, interest, litigation expenses, fees and expenses related to securities lending services, costs of borrowing money, acquired fund fees and expenses and other extraordinary expenses. TAM also currently pays fees and expenses of the Trust’s chief compliance officer and independent trustees (including independent trustee counsel fees); however, these fees may be charged to the Funds in the future.

Distribution and service fees: The Trust has a distribution plan (“Distribution Plan”) pursuant to Rule12b-1 under the 1940 Act. Payments at an annual rate of up to 0.25% of each Fund’s average daily net assets may be made for the sale and distribution of capital shares. No payments, pursuant to the Distribution Plan, will be made through at least April 30, 2019. The implementation of any such payments would be approved by the Board prior to implementation.

The Trust has entered into a distribution agreement with Foreside Fund Services, LLC as the Funds’ distributor. The Distributor will not distribute Fund shares in less than creation units, and does not maintain a secondary market in Fund shares. The Distributor may enter into selected dealer agreements with other broker-dealers or other qualified financial institutions for the sale of creation units of Fund shares.

Brokerage commissions:The Funds incurred no brokerage commissions on security transactions placed with affiliates of the adviser orsub-adviser(s) for the year ended December 31, 2018.

9. PURCHASES AND SALES OF SECURITIES

For the year ended December 31, 2018, the cost of securities purchased and proceeds from securities sold (excludingin-kind transactions and short-term securities) are as follows:

	Purchases of Securities				Sales/Maturities of Securities
Fund	Long-Term		U.S. Government		Long-Term		U.S. Government
S&P 400 Managed Risk	$	104,436,511	$	390,003,011	$	195,242,765	$	323,971,498
S&P 500 Managed Risk		332,309,987		1,430,617,707		649,497,531		1,199,943,820
S&P 600 Managed Risk		42,277,108		169,522,349		81,579,809		143,041,234
S&P International Managed Risk		78,705,288		341,507,240		170,807,155		253,278,756

Transamerica ETF Trust Annual Report 2018

Page    59

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

9. PURCHASES AND SALES OF SECURITIES (continued)

For the period ended December 31, 2018, the cost ofin-kind purchases and proceeds fromin-kind sales are as follows:

Fund	Purchases of Securities		Sales/Maturities of Securities
S&P 400 Managed Risk	$	64,980,058	$	57,744,665
S&P 500 Managed Risk		256,427,085		183,920,628
S&P 600 Managed Risk		41,123,212		44,070,073
S&P International Managed Risk		13,684,660		21,880,116

10. CAPITAL SHARE TRANSACTIONS

The Funds will issue or redeem capital shares to certain institutional investors (typically market makers or other broker-dealers) only in large blocks of 50,000 capital shares (“Creation Units”). Creation Unit transactions are typically conducted in exchange for the deposit or delivery of a designated portfolio ofin-kind securities and/or cash constituting a substantial replication, or a representation, of the securities included in each Fund’s Underlying Index.

Individual capital shares may only be purchased and sold on a national securities exchange, electronic crossing networks and other alternative trading systems through a broker-dealer at market prices. Because capital shares trade at market prices rather than at NAV, capital shares may trade at a price greater than NAV (premium) or less than NAV (discount). Transactions in capital shares for each Fund are disclosed in detail within the Statements of Changes in Net Assets.

11. FEDERAL INCOME TAXES AND DISTRIBUTIONS TO SHAREHOLDERS

The Funds have not made any provision for federal income or excise taxes due to their policy to distribute all of their taxable income and capital gains to their shareholders and otherwise qualify as regulated investment companies under Subchapter M of the Internal Revenue Code. The Funds recognize the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. The Funds’ tax returns remain subject to examination by the Internal Revenue Service and state tax authorities three years from the date of filing for federal purposes and four years from the date of filing for state purposes. Management has evaluated the Funds’ tax provisions taken for all open tax years, and has concluded that no provision for income tax is required in the Funds’ financial statements. If applicable, the Funds recognize interest accrued related to unrecognized tax benefits in relation to interest and penalties expense in Other within the Statements of Operations. The Funds identify their major tax jurisdictions as U.S. Federal, the state of Colorado, and foreign jurisdictions where the Funds make significant investments; however, the Funds are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months.

Distributions are determined in accordance with income tax regulations, which may differ from GAAP. These differences are primarily due to different treatment for items including, but not limited to, wash sales, futures contracts mark to market, passive foreign investment company inclusions partnership basis adjustments, capital straddle, straddle loss deferral and Express Scripts corporate action tax adjustments. Therefore, distributions determined in accordance with tax regulations may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. Financial reporting records are adjusted for permanent book/tax differences to reflect tax character. The primary permanent differences are due to exclusion of baskets such as wash sales reversals, real estate investment trust andnon-real estate investment trust adjustments, distributionre-designations, redemptionsin-kind, foreign currency gains and losses, passive foreign investment company gains and losses, and reversal of prior year REIT capital gain reclass. These reclassifications have no impact on net assets or results of operations. Financial records are not adjusted for temporary differences. These permanent reclassifications are as follows:

Fund	Paid-in Capital		Total Distributable Earnings (Accumulated Losses)
S&P 400 Managed Risk	$	9,854,508	$	(9,854,508	)
S&P 500 Managed Risk		34,363,534		(34,363,534	)
S&P 600 Managed Risk		8,078,542		(8,078,542	)
S&P International Managed Risk		1,767,189		(1,767,189	)

Transamerica ETF Trust Annual Report 2018

Page    60

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

11. FEDERAL INCOME TAXES AND DISTRIBUTIONS TO SHAREHOLDERS (continued)

As of December 31, 2018, the approximate cost for U.S. federal income tax purposes, and the aggregate gross/net unrealized appreciation (depreciation) in the value of investments (including securities sold short and derivatives, if any) are as follows:

Fund	Cost		Gross Appreciation		Gross (Depreciation)			Net Appreciation (Depreciation)
S&P 400 Managed Risk	$	107,468,012	$	1,855,259	$	(6,564,248	)	$	(4,708,989	)
S&P 500 Managed Risk		393,456,043		9,177,236		(19,604,012	)		(10,426,776	)
S&P 600 Managed Risk		43,165,665		765,731		(3,401,734	)		(2,636,003	)
S&P International Managed Risk		218,900,097		4,422,971		(21,825,154	)		(17,402,183	)

As of December 31, 2018, the capital loss carryforwards available to offset future realized capital gains are as follows:

	Unlimited
Fund	Short-Term		Long-Term
S&P 400 Managed Risk	$	2,509,664	$	3,037,879
S&P 500 Managed Risk		2,765,872		9,409,790
S&P 600 Managed Risk		2,276,571		871,511
S&P International Managed Risk		192,069		4,962,329

During the year ended December 31, 2018, the Funds did not have any capital loss carryforwards utilized or expired.

The tax character of distributions paid may differ from the character of distributions shown within the Statements of Changes in Net Assets due to short-term gains being treated as ordinary income for tax purposes. The tax character of distributions paid during 2018 and 2017 are as follows:

	2018 Distributions Paid From						2017 Distributions Paid From
Fund	Ordinary Income		Long-Term Capital Gain		Return of Capital		Ordinary Income		Long-Term Capital Gain		Return of Capital
S&P 400 Managed Risk	$	1,403,938	$	—	$	—	$	768,934	$	38,277	$	—
S&P 500 Managed Risk		6,923,900		62,527		—		2,667,885		113,924		—
S&P 600 Managed Risk		555,073		—		—		402,533		18,194		—
S&P International Managed Risk		5,872,442		52,703		—		1,565,012		27,848		—

As of December 31, 2018, the tax basis components of distributable earnings are as follows:

Fund	Undistributed Ordinary Income		Undistributed Tax Exempt Income		Undistributed Long-Term Capital Gain		Capital Loss Carryforwards			Late Year Ordinary Loss Deferred		Other Temporary Differences			Net Unrealized Appreciation (Depreciation)
S&P 400 Managed Risk	$	—	$	—	$	—	$	(5,547,543	)	$	—	$	(714	)	$	(4,708,989	)
S&P 500 Managed Risk		270,785		—		—		(12,175,662	)		—		(845	)		(10,426,776	)
S&P 600 Managed Risk		1,568		—		—		(3,148,082	)		—		(348	)		(2,636,004	)
S&P International Managed Risk		56,259		—		—		(5,154,398	)		—		(3,206	)		(17,388,478	)

12. NEW ACCOUNTING PRONOUNCEMENTS

In August 2018, the Financial Accounting Standards Board issued Accounting Standards UpdateNo. 2018-13 (“ASU2018-13”), “Fair Value Measurement (Topic 820: Disclosure Framework), Changes to the Disclosure Requirements for Fair Value Measurement”. ASU2018-13 eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the timing of transfers between levels of the fair value hierarchy and the valuation processes for Level 3 fair value measurements. ASU2018-13 does not eliminate the requirement to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements, or the reporting of changes in unrealized gains and losses for recurring Level 3 fair value measurements. ASU2018-13 requires that information is provided about the measurement uncertainty of Level 3 fair value measurements as of the reporting date. The amendment is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Management has evaluated and early adopted the disclosure requirements and the impact is reflected within the Funds’ financial statements.

Transamerica ETF Trust Annual Report 2018

Page    61

NOTES TO FINANCIAL STATEMENTS (continued)

At December 31, 2018

12. NEW ACCOUNTING PRONOUNCEMENTS (continued)

In August 2018, the Securities and Exchange Commission (“SEC”) released its Final Rule on Disclosure Update and Simplification (the “Final Rule”) which is intended to simplify an issuer’s disclosure compliance efforts by removing redundant or outdated disclosure requirements without significantly altering the mix of information provided to investors. The most notable impacts being that a fund is no longer required to present the components of distributable earnings on the Statements of Assets and Liabilities, or the sources of distributions to shareholders and the amount of undistributed net investment income on the Statements of Changes in Net Assets. The compliance date for the amendments to RegulationS-X is November 5, 2018. Management has evaluated and adopted the disclosure requirements and the impact is reflected within the Funds’ financial statements.

13. LEGAL PROCEEDINGS

On August 27, 2018, Transamerica Asset Management, Inc. (“TAM”), Aegon USA Investment Management, LLC (“AUIM”) and Transamerica Capital, Inc. (“TCI”) reached a settlement with the Securities and Exchange Commission (the “SEC”) that resolved an investigation into asset allocation models and volatility overlays utilized by AUIM when it served assub-adviser to certain Transamerica-sponsored mutual funds, and related disclosures. TAM serves as investment manager to the funds. AUIM, an affiliate of TAM, has no role or involvement with respect to the funds. TCI, an affiliate of TAM that serves as principal underwriter to the Transamerica-sponsored mutual funds, serves as an intermediary for the funds.

The SEC’s order instituting administrative andcease-and-desist proceedings (the “Order”) pertains to events that occurred during the period between July 2011 and June 2015, and, among other things, the operation and/or implementation of an asset allocation model utilized by AUIM when it served assub-adviser to certain Transamerica-sponsored mutual funds, the designation of the portfolio manager for certain of these funds as well as the operation and/or implementation of volatility overlays utilized by AUIM when it served assub-adviser to certain of these funds. The Order also states that the parties failed to make appropriate disclosures regarding these matters, including in marketing materials, and failed to have adequate compliance policies and procedures.

Under the terms of the Order, AUIM, TAM and TCI were censured, and agreed, without admitting or denying the findings in the Order, to cease and desist from committing or causing any violations of certain statutory provisions and SEC rules. AUIM agreed to pay civil penalties of $21,000,000, $24,599,896 in disgorgement and $3,682,195 in prejudgment interest. TAM agreed to pay civil penalties of $10,500,000, $15,000,000 in disgorgement and $2,235,765 in prejudgment interest. TCI agreed to pay civil penalties of $4,000,000, $12,000,000 in disgorgement and $1,826,022 in prejudgment interest. The amounts paid in disgorgement, prejudgment interest and civil penalties will be deposited into a Fair Fund for distribution to affected investors. Affected investors are those who purchased or held the relevant mutual funds, variable life insurance and annuity investment portfolios and separately managed account strategies during the period between July 2011 and June 2015. The Order states that these investors are to receive from the Fair Fund thepro ratafees and commissions paid by them during that period, subject to anyde minimisthreshold.

In accepting the settlement, the SEC considered the substantial cooperation and remedial efforts of AUIM, TAM and TCI. In the Order, the SEC acknowledged that, after the start of the SEC staff’s investigation but before the settlement, AUIM, TAM and TCI had voluntarily retained an independent compliance consultant to conduct a comprehensive review of certain compliance policies and procedures, internal controls and related procedures, and that AUIM, TAM and TCI had received the consultant’s written findings and implemented the consultant’s proposed changes. The SEC also acknowledged that, in advance of receiving written findings and recommendations from the independent compliance consultant, AUIM, TAM and TCI had already begun making revisions and improvements to their compliance policies and procedures. The SEC also considered that AUIM, TAM and TCI have retained the independent compliance consultant for further reviews through the completion of the consultant’sfollow-up review for fiscal year 2019.

The language in the settlement Order does not impose any restrictions on the business or continued ability of TAM or TCI to serve the funds.

Transamerica Financial Advisors, LLC (“TFA”), which serves as an intermediary for the Transamerica-sponsored mutual funds, also was a party to the settlement. The findings in the Order with respect to TFA are unrelated to the funds and the Transamerica-sponsored mutual funds.

The foregoing is only a brief summary of the Order. A copy of the Order is available on the SEC’s website at https://www.sec.gov.

The funds are affected by many factors and risks: for example, the risk that thesub-adviser’s judgments and investment decisions, and methods, tools, resources, information, models and analyses utilized in making investment decisions, are incorrect or flawed, do not produce the desired results, and cause the funds to lose value. See “Principal Risks” in the prospectus.

The Order and settlement has no impact on the Funds’ financial statements.

Transamerica ETF Trust Annual Report 2018

Page    62

Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Trustees of Transamerica ETF Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Transamerica ETF Trust (the “Trust”) (comprising DeltaShares S&P 400 Managed Risk ETF, DeltaShares S&P 500 Managed Risk ETF, DeltaShares S&P 600 Managed Risk ETF and DeltaShares S&P International Managed Risk ETF, (collectively referred to as the “Funds”)), as of December 31, 2018, and the related statements of operations for the year then ended, and the statements of changes in net assets and the financial highlights for the year then ended and for the period from July 31, 2017 (commencement of operations) through December 31, 2017 and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Funds (the four portfolios constituting Transamerica ETF Trust) at December 31, 2018, and the results of their operations for the year then ended, and the changes in their net assets and their financial highlights for the year then ended and for the period from July 31, 2017 (commencement of operations) to December 31, 2017, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2018, by correspondence with the custodian and others, or by other appropriate auditing procedures where replies from others were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more Transamerica investment companies since 1995.

Boston, Massachusetts

February 26, 2019

Transamerica ETF Trust Annual Report 2018

Page    63

SUPPLEMENTAL INFORMATION

(unaudited)

TAX INFORMATION

For dividends paid during the year ended December 31, 2018, the designated maximum amounts of qualified dividend income are as follows:

Fund	Qualified Dividend Income
S&P 400 Managed Risk	$	1,060,033
S&P 500 Managed Risk		6,555,878
S&P 600 Managed Risk		331,217
S&P International Managed Risk		4,618,048

For corporate shareholders, investment income (dividend income plus short-term gains, if any) which qualifies for the maximum dividends received deductions are as follows:

Fund	Dividend Received Deduction Percentage
S&P 400 Managed Risk		74.56	%
S&P 500 Managed Risk		84.48
S&P 600 Managed Risk		62.64

For tax purposes, the long-term capital gain designations for the year ended December 31, 2018 are as follows:

Fund	Long-Term Capital Gain Designation
S&P 500 Managed Risk	$	62,527
S&P International Managed Risk		52,703

The amounts which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the U.S. are as follows:

Fund	Foreign Source Income		Foreign Taxes
S&P International Managed Risk	$	5,162,975	$	343,864

The information and distributions reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2018. Complete information will be computed and reported in conjunction with your 2018Form 1099-DIV.

Transamerica ETF Trust Annual Report 2018

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Management of the Trust

Board Members and Officers

The members of the Board (“Board Members”) and executive officers of each Trust are listed below.

Interested Board Member means a board member who may be deemed an “interested person” (as that term is defined in the 1940 Act) of each Trust because of his current or former service with TAM or an affiliate of TAM. Interested Board Members may also be referred to herein as “Interested Trustees.” Independent Board Member means a Board Member who is not an “interested person” (as defined under the 1940 Act) of each Trust and may also be referred to herein as an “Independent Trustee.”

The Board governs each fund and is responsible for protecting the interests of the shareholders. The Board Members are experienced executives who meet periodically throughout the year to oversee the business affairs of each fund and the operation of each fund by its officers. The Board also reviews the management of each fund’s assets by the investment manager and its respectivesub-adviser.

The funds are among the funds managed and sponsored by TAM (collectively, “Transamerica Fund Family”). The Transamerica Fund Family consists of (i) Transamerica Funds (“TF”); (ii) Transamerica Series Trust (“TST”); (iii) Transamerica ETF Trust (“TET”) and (iv) Transamerica Asset Allocation Variable Funds (“TAAVF”). The Transamerica Fund Family consists of 136 funds as of the date of this annual report. The Independent Board Members do not govern TF, TST and TAAVF, they are overseen by a separate Board of Trustees. With the exception of Mr. Smit, none of the Board Members serve on the board of trustees of TF, TST or TAAVF. TF, TST and TAAVF are overseen by a separate board of trustees.

The mailing address of each Board Member is c/o Secretary, 1801 California Street, Suite 5200, Denver, CO 80202.

The Board Members, their age, their positions with the Trust, and their principal occupations for the past five years (their titles may have varied during that period) the number of funds in the Transamerica Fund Family the Board oversees, and other board memberships they hold are set forth in the table below. The length of time served is provided from the date a Board Member became a member of the Board.

Name and Age	Position(s) Held with Trust	Term of Office and Length of Time Served*	Principal Occupation(s) During Past Five Years	Number of Funds in Complex Overseen by Board Member	Other Directorships Held By Board Member
INTERESTED BOARD MEMBERS
Marijn P. Smit (45)	Chairman of the Board, President and Chief Executive Officer	Since 2017	Chairman of the Board, President and Chief Executive Officer, TF, TST and TAAVF (2014 – present); TPP, TPFG and TPFG II (2014 – 2018); Chairman of the Board, President and Chief Executive Officer, TET (2017 – present); Chairman of the Board, President and Chief Executive Officer, Transamerica Income Shares, Inc. (“TIS”) (2014 – 2015); Director, Chairman of the Board, President and Chief Executive Officer, Transamerica Asset Management, Inc. (“TAM”) and Transamerica Fund Services, Inc. (“TFS”) (2014 – present); President, Investment Solutions, Transamerica Investments & Retirement (2014 – 2016);	136	Director, Massachusetts Fidelity Trust Company (2014 – present); Director, Aegon Global Funds (since 2016); Director – Akaan- Aegon, S.A.P.I. de C.V. (financial services joint venture in Mexico) (2017 – present)

Transamerica ETF Trust Annual Report 2018

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Name and Age	Position(s) Held with Trust	Term of Office and Length of Time Served*	Principal Occupation(s) During Past Five Years	Number of Funds in Complex Overseen by Board Member	Other Directorships Held By Board Member
INTERESTED BOARD MEMBERS — continued
Marijn P. Smit (continued)			Vice President, Transamerica Premier Life Insurance Company (2010 – 2016); Vice President, Transamerica Life Insurance Company (2010 – present); Senior Vice President, Transamerica Financial Life Insurance Company (2013 – 2016); Senior Vice President, Transamerica Retirement Advisors, Inc. (2013 – 2016); Senior Vice President, Transamerica Retirement Solutions Corporation (2012 – present); and President and Director, Transamerica Stable Value Solutions, Inc. (2010 – 2016).
INDEPENDENT BOARD MEMBERS
James S. Parson (61)	Trustee	Since 2017	Retired (2009 – present);	4	Director, Velocity Shares (2011 – 2014)
Francis J. Enderle (53)	Trustee	Since 2017	Consultant, Lattice Strategies/ Hartford Funds (2014 – Present)	4	Chair, BlackRock Canada Independent Review Committee (2010 – 2017) Director, WineInStyle (Japan) (2006 – 2017)

* Each Board Member shall hold office until: 1) his or her successor is elected and qualified or 2) he or she resigns, retires or his or her term as a Board Member is terminated in accordance with the Trust’s Declaration of Trust.

Transamerica ETF Trust Annual Report 2018

Page    66

Officers

The mailing address of each officer is c/o Secretary, 1801 California Street, Suite 5200, Denver, CO 80202. The following table shows information about the officers, including their year of birth, their positions held with the Trust and their principal occupations during the past five years (their titles may have varied during that period). Each officer will hold office until his or her successor has been duly elected or appointed or until his or her earlier death, resignation or removal.

Name and Age	Position	Term of Office and Length of Time Served*	Principal Occupation(s) or Employment During Past Five Years
Marijn P. Smit (45)	Chairman of the Board, President and Chief Executive Officer	Since 2017	See Interested Board Member Table.
Christopher A. Staples (48)	Vice President and Chief Investment Officer, Advisory Services	Since 2017	Vice President and Chief Investment Officer, Advisory Services (2007 – present), Transamerica Funds and TST; Vice President and Chief Investment Officer, Advisory Services (2007 – 2015), TIS; Vice President and Chief Investment Officer, Advisory Services, TAAVF (2007 – present); Vice President and Chief Investment Officer, Advisory Services, TPP, TPFG and TPFG II (2007 – 2018); Director (2005 – present), Senior Vice President (2006 – present), Senior Director, Investments (2016 – present), Chief Investment Officer, Advisory Services (2012 – 2016), and Lead Portfolio Manager (2007 – present); Registered Representative (2007 – 2016), TCI; and Registered Representative, TFA (2005 – present).
Thomas R. Wald (58)	Chief Investment Officer	Since 2017	Chief Investment Officer, Transamerica Funds, TST and TAAVF (2014 – present); TPP, TPFG and TPFG II (2014 – 2018); Chief Investment Officer, TIS (2014 – 2015); Senior Vice President and Chief Investment Officer, TAM (2014 – present); Chief Investment Officer, Transamerica Investments & Retirement (2014 – present); and Vice President and Client Portfolio Manager, Curian Capital, LLC (2012 – 2014).
Vincent J. Toner (48)	Vice President and Treasurer	Since 2017	Vice President and Treasurer, Transamerica Funds, TST and TAAVF (2014 – present); TPP, TPFG and TPFG II (2014 – 2018); Vice President and Treasurer, TIS (2014 – 2015); Vice President and Treasurer (2016 – present), Vice President, Administration and Treasurer (2014 – 2016), TAM; Vice President, Administration and Treasurer, TFS (2014 – present); and Senior Vice President and Vice President, Fund Administration, Brown Brothers Harriman (2010 – 2014).

Transamerica ETF Trust Annual Report 2018

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Name and Age	Position	Term of Office and Length of Time Served*	Principal Occupation(s) or Employment During Past Five Years
Scott M. Lenhart (57)	Chief Compliance Officer and Anti-Money Laundering Officer	Since 2017	Chief Compliance Officer and Anti-Money Laundering Officer, Transamerica Funds, TST and TAAVF (2014 – present), TIS (2014 – 2015); TPP, TPFG and TPFG II (2014 – 2018); Chief Compliance Officer (2014 – present), Anti-Money Laundering Officer (2014 – Present), TAM; Vice President and Chief Compliance Officer, TFS (2014 – present); Director of Compliance, Transamerica Investments & Retirement (2014 – present).

* Elected and serves at the pleasure of the Board of the Trust.

Transamerica ETF Trust Annual Report 2018

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PROXY VOTING POLICIES AND PROCEDURES AND QUARTERLY PORTFOLIO HOLDINGS

(unaudited)

A description of the Transamerica ETF Trust’s proxy voting policies and procedures is available in the Statement of Additional Information of the Funds, available without charge upon request by calling 1-888-316-8077 (toll free) or on the Securities and Exchange Commission’s (“SEC”) website athttp://www.sec.gov.

In addition, the Funds are required to file Form N-PX, with their complete proxy voting records for the 12 months ended June 30th, no later than August 31st of each year. The Form is available without charge: (1) from the Funds, upon request by calling 1-888-316-8077; and (2) on the SEC’s website athttp://www.sec.gov.

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarter of each fiscal year as an attachment to Form N-PORT which is available on the SEC’s website athttp://www.sec.gov.

You may also visit the Trust’s website atwww.deltashares.com for this and other information about the Funds and the Trust.

Important Notice Regarding Delivery of Shareholder Documents

Every year we send shareholders informative materials such as the Transamerica ETF Trust’s Annual Report, the Transamerica ETF Trust’s Prospectus, and other required documents that keep you informed regarding your Funds. The Trust will only send one piece per mailing address, a method that saves your Funds’ money by reducing mailing and printing costs.We will continue to do this unless you tell us not to.To elect to receive individual mailings, simply call a Transamerica Customer Service Representative toll free at 1-888-316-8077, 8 a.m. to 7 p.m. Eastern Time, Monday-Friday. Your request will take effect within 30 days.

Premium/Discount Information

Information about differences between the per share net asset value of each Fund and the closing price of shares of each Fund are available, without charge, at www.deltashares.com.

Transamerica ETF Trust Annual Report 2018

Page    69

NOTICE OF PRIVACY POLICY

(unaudited)

Your privacy is very important to us. We want you to understand what information we collect and how we use it. We collect and use “nonpublic personal information” in connection with providing our customers with a broad range of financial products and services as effectively and conveniently as possible. We treat nonpublic personal information in accordance with our Privacy Policy.

What Information We Collect and From Whom We Collect It

We may collect nonpublic personal information about you from the following sources:

• Information we receive from you on applications or other forms, such as your name, address, and account number;

• Information about your transactions with us, our affiliates, or others, such as your account balance and purchase/redemption history; and

• Information we receive from non-affiliated third parties, including consumer reporting agencies.

What Information We Disclose and To Whom We Disclose It

We do not disclose any nonpublic personal information about current or former customers to anyone without their express consent, except as permitted by law. We may disclose the nonpublic personal information we collect, as described above, to persons or companies that perform services on our behalf and to other financial institutions with which we have joint marketing agreements. We will require these companies to protect the confidentiality of your nonpublic personal information and to use it only to perform the services for which we have hired them.

Our Security Procedures

We restrict access to your nonpublic personal information and only allow disclosures to persons and companies as permitted by law to assist in providing products or services to you. We maintain physical, electronic, and procedural safeguards to protect your nonpublic personal information and to safeguard the disposal of certain consumer information.

If you have any questions about our Privacy Policy, please call 1-888-316-8077 on any business day between 8 a.m. and 7 p.m. Eastern Time.

Note:        This Privacy Policy applies only to customers that have a direct relationship with us or our affiliates. If you own shares of our funds in the name of a third party such as a bank or broker-dealer, its privacy policy may apply to you instead of ours.

Transamerica ETF Trust Annual Report 2018

Page    70

Customer Service:1-888-316-8077

1801 California St., Suite 5200 Denver, CO 80202

Distributor: Foreside Fund Services, LLC

www.deltashares.com

In an effort to reduce paper mailings and conserve natural resources, we encourage you to visit our website, www.transamerica.com, to set up an account and enroll in eDelivery.

The Transamerica ETF Trust is advised by Transamerica Asset Management, Inc. and distributed by Foreside Fund Services, LLC., Member of FINRA

25325_ARDSP1218

Item 2:	Code of Ethics.
(a)	The Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other officers who serve a similar function.
(b)	The Registrant’s code of ethics is reasonably designed as described in this FormN-CSR.
(c)	During the period covered by the report no amendments were made to the provisions of this code of ethics.
(d)	During the period covered by the report, the Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics.
(e)	Not Applicable.
(f)	The Registrant has filed this code of ethics as an exhibit pursuant to Item 13(a)(1) of FormN-CSR.
Item 3:	Audit Committee Financial Experts.
	The Registrant’s Board of Trustees has determined that Francis J. Enderle is an “audit committee financial expert,” as such term is defined in Item 3 of FormN-CSR. Mr. Enderle is “independent” under the standards set forth in Item 3 of FormN-CSR. The designation of Mr. Enderle as “audit committee financial expert” pursuant to Item 3 of FormN-CSR does not (i) impose upon him any duties, obligations, or liabilities that are greater than the duties, obligations and liabilities imposed upon him as a member of the Registrant’s audit committee or Board of Trustees in the absence of such designation; or (ii) affect the duties, obligations or liabilities of any other member of the Registrant’s audit committee or Board of Trustees.
Item 4:	Principal Accountant Fees and Services.

		Fiscal Year Ended 12/31 (in thousands)
		2018		2017
(a)	Audit Fees	$	86	$	86
(b)	Audit Related Fees(1)	$	0	$	12
(c)	Tax Fees(2)	$	22	$	25
(d)	All Other Fees(3)	$	0	$	0

⁽¹⁾ Audit-Related Fees represent assurance and related services provided that are reasonably related to the performance of the audit of the financial statements of the funds comprising the Registrant, specifically data verification and agreed-upon procedures related to asset securitizations and agreed-upon procedures engagements.

⁽²⁾  Tax Fees represent tax compliance, tax planning and tax advice services provided in connection with the review of the distributions for excise tax purposes, fiscal year end taxable income calculations and certain fiscal year end shareholder reporting items on behalf of the funds comprising the Registrant.

⁽³⁾  All Other Fees represent service fees for analysis of potential Passive Foreign Investment Company holdings.

(e)(1)	Audit CommitteePre-Approval Policies and Procedures. Generally, the Registrant’s Audit Committee must preapprove (i) all audit andnon-audit services performed for the Registrant by the independent accountant and (ii) allnon-audit services performed by the Registrant’s independent accountant for the Registrant’s investment adviser, and certain of the adviser’s affiliates that provide ongoing services to the Registrant, if the services to be provided by the accountant relate directly to the operations and financial reporting of the Registrant.
	The Audit Committee may delegate preapproval authority to one or more of its members. The member or members to whom such authority is delegated shall report any preapproval decisions to the Audit Committee at its next scheduled meeting.
	In accordance with the Procedures, the annual audit services engagement terms and fees for the Registrant will be subject to the preapproval of the Audit Committee. In addition to the annual audit services engagement approved by the Audit Committee, the Audit Committee may grant preapproval for other audit services, which are those services that only the independent accountant reasonably can provide.
	Requests or applications to provide services that require separate approval by the Audit Committee will be submitted to the Audit Committee by both the independent accountant and the Registrant’s treasurer, and must include a joint statement as to whether, in their view, the request or application is consistent with the Securities and Exchange Commissions’ rules on auditor independence.
	Management will promptly report to the Chair of the Audit Committee any violation of this Procedure of which it becomes aware.
(e)(2)	The percentage of services described in paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) ofRule 2-01 of RegulationS-X for fiscal year ended 2018 was zero.
(f)	Not Applicable.
(g)	Not Applicable.
(h)	The Registrant’s Audit Committee has considered whether the provision ofnon-audit services that were rendered to the Registrant’s Adviser, and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the Registrant that were notpre-approved pursuant to paragraph (c)(7)(ii) of Rule2-01 of RegulationS-X is compatible with maintain the principal accountant’s independence.
Item 5:	Audit Committee of Listed Registrants.
	The following individuals comprise the standing Audit Committee: James S. Parson and Francis J. Enderle.
Item 6:	Schedule of Investments.
(a)	The schedules of investments are included in the Annual Report to shareholders filed under Item 1 of this FormN-CSR.
(b)	Not applicable.

Item 7:	Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies.
	Not applicable.
Item 8:	Portfolio Managers ofClosed-End Management Investment Companies.
	Not applicable.
Item 9:	Purchases of Equity Securities byClosed-End Management Investment Company and Affiliated Purchasers.
	Not Applicable
Item 10:	Submission of Matters to a Vote of Security Holders.
	There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that have been implemented since the Registrant last provided disclosure in response to the requirements of this Item.
Item 11:	Controls and Procedures.
(a)	The Registrant’s principal executive officer and principal financial officer evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are appropriately designed to ensure that information required to be disclosed by the Registrant in the reports that it files on FormN-CSR (a) is accumulated and communicated to Registrant’s management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission.
(b)	The Registrant’s principal executive officer and principal financial officer are aware of no change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12:	Disclosure of Securities Lending Activities forClosed-End Management Investment Companies.
	Not Applicable
Item 13:	Exhibits.
(a)(1)	The Registrant’s code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached.
(a)(2)	Separate certifications for Registrant’s principal executive officer and principal financial officer, as required byRule 30a-2(a) under the 1940 Act, are attached.
(a)(3)	Not applicable.

(b) A certification for Registrant’s principal executive officer and principal financial officer, as required by Rule30a-2(b) under the 1940 Act, is attached. The certification furnished pursuant to this paragraph is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to liability of that section. Such certification is not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates it by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Transamerica ETF Trust
(Registrant)
By:	/s/ Marijn P. Smit
	Marijn P. Smit
	President and Chief Executive Officer
	(Principal Executive Officer)
Date:	March 6, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ Marijn P. Smit
	Marijn P. Smit
	President and Chief Executive Officer
	(Principal Executive Officer)
Date:	March 6, 2019
By:	/s/ Vincent J. Toner
	Vincent J. Toner
	Vice President and Treasurer
	(Principal Financial Officer)
Date:	March 6, 2019

EXHIBIT INDEX

Exhibit No.	Description of Exhibit
13(a)(1)	Code of Ethics for Principal Executive and Principal Financial Officers
13(a)(2)(i)	Section 302N-CSR Certification of Principal Executive Officer
13(a)(2)(ii)	Section 302N-CSR Certification of Principal Financial Officer
13(b)	Section 906N-CSR Certification of Principal Executive Officer and Principal Financial Officer