SmartETFs Asia Pacific Dividend Builder ETF
Schedule of Investments
at March 31, 2023 (Unaudited)
| Shares | | | Common Stocks: 99.9% | | Value | |
| | | | | Australia: 10.0% | | | | |
| | 6,212 | | | Corporate Travel Management Ltd. | | $ | 75,040 | |
| | 2,715 | | | JB Hi-Fi Ltd. | | | 77,082 | |
| | 33,324 | | | Metcash Ltd. | | | 85,767 | |
| | 3,479 | | | Sonic Healthcare Ltd. | | | 81,028 | |
| | | | | | | | 318,917 | |
| | | | | China: 31.5% | | | | |
| | 141,000 | | | China Construction Bank Corp. - H Shares | | | 91,427 | |
| | 60,000 | | | China Medical System Holdings | | | 94,778 | |
| | 12,500 | | | China Merchants Bank Co., Ltd. - H Shares | | | 63,854 | |
| | 37,500 | | | China Overseas Land & Investment Ltd. | | | 90,574 | |
| | 18,000 | | | China Resources Gas Group Ltd. | | | 66,383 | |
| | 16,000 | | | Inner Mongolia Yili Industrial Group Co., Ltd. - A Shares | | | 67,789 | |
| | 161,000 | | | Industrial and Commercial Bank of China Ltd. - H Shares | | | 85,731 | |
| | 917 | | | NetEase Inc. - ADR | | | 81,099 | |
| | 14,000 | | | Ping An Insurance Group Company of China Ltd. - H Shares | | | 91,135 | |
| | 7,600 | | | Shenzhou International | | | 79,777 | |
| | 36,900 | | | Suofeiya Home Collection - A Shares | | | 104,692 | |
| | 10,794 | | | Zhejiang Supor Cookware - A Shares | | | 85,042 | |
| | | | | | | | 1,002,281 | |
| | | | | Hong Kong: 5.8% | | | | |
| | 31,000 | | | BOC Hong Kong Holdings Ltd. | | | 96,555 | |
| | 13,677 | | | Link REIT/The | | | 87,987 | |
| | | | | | | | 184,542 | |
| | | | | | | | | |
| | | | | India: 2.9% | | | | |
| | 6,880 | | | Tech Mahindra LTD | | | 92,342 | |
| | | | | | | | | |
| | | | | Malaysia: 2.9% | | | | |
| | 103,600 | | | Public Bank Bhd | | | 93,915 | |
| | | | | | | | | |
| | | | | Singapore: 9.8% | | | | |
| | 47,254 | | | Capland Ascendas - REIT | | | 101,549 | |
| | 67,000 | | | CapitaLand Integrated Commercial Trust - REIT | | | 99,681 | |
| | 4,486 | | | DBS Group Holdings Ltd. | | | 111,236 | |
| | | | | | | | 312,466 | |
| | | | | South Korea: 4.7% | | | | |
| | 10,218 | | | Hanon Systems | | | 68,659 | |
| | 14,438 | | | Korean Reinsurance Co | | | 80,330 | |
| | | | | | | | 148,989 | |
SmartETFs Asia Pacific Dividend Builder ETF
Schedule of Investments
at March 31, 2023 (Unaudited)
| Shares | | | Common Stocks: 99.9% | | Value | |
| | | | | Taiwan: 21.2% | | | | |
| | 16,000 | | | Catcher Technology Co., Ltd. | | $ | 99,512 | |
| | 17,000 | | | Elite Material Co., Ltd. | | | 101,280 | |
| | 26,517 | | | Hon Hai Precision Industry Co., Ltd. | | | 90,274 | |
| | 1,260 | | | Largan Precision Co., Ltd. | | | 89,708 | |
| | 7,200 | | | Nien Made Enterprise Co., Ltd. | | | 77,070 | |
| | 9,500 | | | Novatek Microelectronics Corp. | | | 134,186 | |
| | 895 | | | Taiwan Semiconductor Manufacturing Co., Ltd. | | | 83,253 | |
| | | | | | | | 675,283 | |
| | | | | | | | | |
| | | | | Thailand: 3.4% | | | | |
| | 37,300 | | | Tisco Financial Group PCL/Foreign | | | 109,626 | |
| | | | | | | | | |
| | | | | United States: 7.7% | | | | |
| | 1,702 | | | Aflac Inc. | | | 109,813 | |
| | 58 | | | BROADCOM INC | | | 37,209 | |
| | 764 | | | QUALCOMM Inc. | | | 97,471 | |
| | | | | | | | 244,493 | |
| | | | | | | | | |
| | | | | Total Common Stocks (Cost $2,744,674) | | | 3,182,854 | |
| | | | | | | | | |
| | | | | Total Investments (Cost $2,744,674): 99.9% | | | 3,182,854 | |
| | | | | Other Assets in Excess of Liabilities - 0.1% | | | 2,467 | |
| | | | | Net Assets: 100.0% | | $ | 3,185,321 | |
ADR - American Depository Receipt
PCL - Public Company Limited
REIT - Real Estate Investment Trust
