Schedule of Investments - Virtus International Dividend ETF
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS - 99.2% | ||||||||
| Australia - 7.8% | ||||||||
| BHP Group Ltd. | 8,296 | $ | 320,853 | |||||
| Fortescue Ltd. | 12,242 | 173,187 | ||||||
| GPT Group (The) | 35,811 | 122,465 | ||||||
| Magellan Financial Group Ltd. | 6,021 | 44,215 | ||||||
| QBE Insurance Group Ltd. | 3,916 | 62,983 | ||||||
| Rio Tinto Ltd. | 1,098 | 132,330 | ||||||
| Rio Tinto PLC | 2,637 | 263,668 | ||||||
| Stockland | 32,292 | 94,157 | ||||||
| Total Australia | 1,213,858 | |||||||
| Austria - 1.3% | ||||||||
| OMV AG | 2,907 | 205,220 | ||||||
| Canada - 9.8% | ||||||||
| Agnico Eagle Mines Ltd. | 342 | 64,311 | ||||||
| Bank of Montreal | 378 | 57,559 | ||||||
| Bank of Nova Scotia (The) | 2,799 | 217,763 | ||||||
| Barrick Mining Corp. | 2,142 | 84,160 | ||||||
| Canadian Imperial Bank of Commerce | 2,094 | 233,657 | ||||||
| Canadian Natural Resources Ltd. | 1,377 | 65,730 | ||||||
| Emera, Inc. | 1,989 | 106,116 | ||||||
| Enbridge, Inc. | 2,668 | 147,979 | ||||||
| Magna International, Inc. | 2,142 | 136,324 | ||||||
| Parex Resources, Inc. | 4,189 | 88,261 | ||||||
| Shopify, Inc. Class A* | 530 | 64,333 | ||||||
| Toronto-Dominion Bank (The) | 2,482 | 267,377 | ||||||
| Total Canada | 1,533,570 | |||||||
| China - 1.4% | ||||||||
| SITC International Holdings Co., Ltd. | 53,000 | 221,135 | ||||||
| Finland - 1.2% | ||||||||
| Nordea Bank Abp | 9,873 | 185,284 | ||||||
| France - 7.6% | ||||||||
| AXA SA | 990 | 47,569 | ||||||
| BNP Paribas SA | 2,451 | 256,681 | ||||||
| Credit Agricole SA | 6,966 | 135,675 | ||||||
| Engie SA | 7,785 | 256,473 | ||||||
| Klepierre SA | 1,683 | 68,067 | ||||||
| Rexel SA | 1,064 | 44,656 | ||||||
| Safran SA | 333 | 106,696 | ||||||
| TotalEnergies SE | 993 | 92,408 | ||||||
| Vinci SA | 1,224 | 184,597 | ||||||
| Total France | 1,192,822 | |||||||
| Germany - 3.4% | ||||||||
| Allianz SE | 522 | 238,319 | ||||||
| Mercedes-Benz Group AG | 2,412 | 140,368 | ||||||
| Siemens Energy AG | 441 | 93,465 | ||||||
| Talanx AG | 404 | 52,584 | ||||||
| Total Germany | 524,736 | |||||||
| Hong Kong - 2.7% | ||||||||
| HKT Trust & HKT Ltd. | 45,000 | 72,908 | ||||||
| PAX Global Technology Ltd. | 108,000 | 53,776 | ||||||
| VTech Holdings Ltd. | 8,100 | 62,359 | ||||||
| WH Group Ltd.(1) | 146,500 | 178,063 | ||||||
| Yue Yuen Industrial Holdings Ltd. | 27,000 | 50,157 | ||||||
| Total Hong Kong | 417,263 | |||||||
| Security Description | Shares | Value | ||||||
| COMMON STOCKS (continued) | ||||||||
| Indonesia - 0.4% | ||||||||
| First Resources Ltd. | 23,400 | $ | 64,162 | |||||
| Israel - 0.9% | ||||||||
| Bank Leumi Le-Israel BM | 5,312 | 134,397 | ||||||
| Italy - 8.1% | ||||||||
| Banca Mediolanum SpA | 5,680 | 124,194 | ||||||
| Banca Monte dei Paschi di Siena SpA | 15,364 | 163,226 | ||||||
| Banco BPM SpA | 10,754 | 156,317 | ||||||
| BPER Banca SpA | 4,632 | 68,139 | ||||||
| d'Amico International Shipping SA | 7,532 | 70,720 | ||||||
| Enel SpA | 18,135 | 211,224 | ||||||
| Eni SpA | 6,499 | 183,062 | ||||||
| Intesa Sanpaolo SpA | 23,701 | 160,642 | ||||||
| Poste Italiane SpA(1) | 3,322 | 88,076 | ||||||
| Terna - Rete Elettrica Nazionale | 3,888 | 46,772 | ||||||
| Total Italy | 1,272,372 | |||||||
| Japan - 17.0% | ||||||||
| Advantest Corp. | 1,100 | 198,563 | ||||||
| Astellas Pharma, Inc. | 8,100 | 115,481 | ||||||
| Daiwa Securities Group, Inc. | 17,100 | 160,290 | ||||||
| Ferrotec Corp. | 1,800 | 86,577 | ||||||
| Fuji Electric Co., Ltd. | 900 | 75,223 | ||||||
| Hitachi Ltd. | 3,300 | 102,907 | ||||||
| Idec Corp. | 5,400 | 115,723 | ||||||
| Japan Tobacco, Inc. | 5,000 | 187,314 | ||||||
| Mitsubishi UFJ Financial Group, Inc. | 9,000 | 161,943 | ||||||
| Mizuho Financial Group, Inc. | 4,300 | 184,629 | ||||||
| Murata Manufacturing Co., Ltd. | 2,700 | 88,922 | ||||||
| Nippon Electric Glass Co., Ltd. | 1,800 | 93,648 | ||||||
| Nomura Holdings, Inc. | 18,900 | 151,690 | ||||||
| NSK Ltd. | 13,700 | 110,962 | ||||||
| SoftBank Corp. | 56,800 | 80,508 | ||||||
| Subaru Corp. | 1,800 | 27,013 | ||||||
| Sumitomo Mitsui Financial Group, Inc. | 6,700 | 235,894 | ||||||
| Sumitomo Mitsui Trust Group, Inc. | 2,700 | 89,302 | ||||||
| Tokyo Electron Ltd. | 600 | 170,125 | ||||||
| Toyobo Co., Ltd. | 3,600 | 32,768 | ||||||
| Toyota Boshoku Corp. | 5,400 | 76,160 | ||||||
| Toyota Motor Corp. | 5,800 | 111,995 | ||||||
| Total Japan | 2,657,637 | |||||||
| Netherlands - 4.3% | ||||||||
| ASML Holding NV | 289 | 414,621 | ||||||
| ING Groep NV | 3,013 | 87,539 | ||||||
| NN Group NV | 1,989 | 173,446 | ||||||
| Total Netherlands | 675,606 | |||||||
| Norway - 5.9% | ||||||||
| Aker BP ASA | 6,063 | 235,984 | ||||||
| MPC Container Ships ASA | 79,852 | 188,927 | ||||||
| Telenor ASA | 6,034 | 99,322 | ||||||
| Var Energi ASA | 31,012 | 157,090 | ||||||
| Wallenius Wilhelmsen ASA | 18,142 | 232,241 | ||||||
| Total Norway | 913,564 | |||||||
| Singapore - 1.3% | ||||||||
| CapitaLand Integrated Commercial Trust | 43,200 | 80,101 | ||||||
| DBS Group Holdings Ltd. | 1,500 | 68,942 | ||||||
Schedule of Investments - Virtus International Dividend ETF (continued)
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS (continued) | ||||||||
| Singapore (continued) | ||||||||
| Hafnia Ltd. | 6,795 | $ | 60,251 | |||||
| Total Singapore | 209,294 | |||||||
| Spain - 2.1% | ||||||||
| Iberdrola SA | 10,602 | 248,240 | ||||||
| Repsol SA | 3,073 | 82,159 | ||||||
| Total Spain | 330,399 | |||||||
| Sweden - 3.5% | ||||||||
| Svenska Handelsbanken AB Class A | 5,488 | 77,600 | ||||||
| Swedbank AB Class A | 4,896 | 171,653 | ||||||
| Tele2 AB Class B | 2,979 | 61,127 | ||||||
| Telefonaktiebolaget LM Ericsson Class B | 15,687 | 184,093 | ||||||
| Volvo AB Class B | 1,306 | 45,138 | ||||||
| Total Sweden | 539,611 | |||||||
| Switzerland - 2.4% | ||||||||
| ABB Ltd. | 2,754 | 276,475 | ||||||
| Partners Group Holding AG | 86 | 93,336 | ||||||
| Total Switzerland | 369,811 | |||||||
| United Kingdom - 11.0% | ||||||||
| Admiral Group PLC | 2,754 | 126,590 | ||||||
| AstraZeneca PLC | 306 | 58,078 | ||||||
| BAE Systems PLC | 3,105 | 86,298 | ||||||
| British American Tobacco PLC | 3,526 | 207,417 | ||||||
| HSBC Holdings PLC | 19,512 | 358,172 | ||||||
| Imperial Brands PLC | 1,116 | 42,536 | ||||||
| Land Securities Group PLC | 14,535 | 116,891 | ||||||
| Legal & General Group PLC | 62,516 | 214,117 | ||||||
| M&G PLC | 30,246 | 124,583 | ||||||
| National Grid PLC | 3,087 | 55,121 | ||||||
| Rolls-Royce Holdings PLC | 5,868 | 94,381 | ||||||
| Standard Life PLC | 12,964 | 133,364 | ||||||
| Subsea 7 SA | 2,966 | 106,671 | ||||||
| Total United Kingdom | 1,724,219 | |||||||
| United States - 7.1% | ||||||||
| AP Moller - Maersk A/S Class A | 63 | 147,825 | ||||||
| AP Moller - Maersk A/S Class B | 63 | 149,259 | ||||||
| Nestle SA | 340 | 34,398 | ||||||
| Novartis AG | 2,034 | 301,709 | ||||||
| Roche Holding AG | 765 | 311,737 | ||||||
| Sanofi SA | 1,377 | 128,999 | ||||||
| Shell PLC | 789 | 35,709 | ||||||
| Total United States | 1,109,636 | |||||||
| Total Common Stocks | ||||||||
| (Cost $13,981,857) | 15,494,596 | |||||||
| TOTAL INVESTMENTS - 99.2% | ||||||||
| (Cost $13,981,857) | 15,494,596 | |||||||
| Other Assets in Excess of Liabilities - 0.8% | 124,542 | |||||||
| Net Assets - 100.0% | $ | 15,619,138 | ||||||
| * | Non-income producing security. |
| (1) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At April 30, 2026, the aggregate value of these securities was $266,139, or 1.7% of net assets. |
Schedule of Investments - Virtus International Dividend ETF (continued)
April 30, 2026 (unaudited)
| Fair Value Measurements | ||||||||||||||||
The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
| ||||||||||||||||
| The following table summarizes valuation of the Fund’s investments under the fair value hierarchy levels as of April 30, 2026. | ||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Asset Valuation Inputs | ||||||||||||||||
| Common Stocks | $ | 15,494,596 | $ | — | $ | — | $ | 15,494,596 | ||||||||
| Total | $ | 15,494,596 | $ | — | $ | — | $ | 15,494,596 | ||||||||