Schedule of Investments - Virtus Emerging Markets Dividend ETF
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS - 92.4% | ||||||||
| Communication Services - 2.9% | ||||||||
| Advanced Info Service PCL (Thailand) | 8,800 | $ | 91,786 | |||||
| Tencent Holdings Ltd. (China) | 2,500 | 149,314 | ||||||
| TIM SA (Brazil) | 11,200 | 58,241 | ||||||
| Total Communication Services | 299,341 | |||||||
| Consumer Discretionary - 1.9% | ||||||||
| Brilliance China Automotive Holdings Ltd. (China) | 358,000 | 123,866 | ||||||
| Chow Tai Fook Jewellery Group Ltd. (China) | 54,400 | 73,830 | ||||||
| Total Consumer Discretionary | 197,696 | |||||||
| Consumer Staples - 2.2% | ||||||||
| AVI Ltd. (South Africa) | 19,400 | 116,114 | ||||||
| MBRF Global Foods Co. SA (Brazil) | 33,000 | 116,158 | ||||||
| Total Consumer Staples | 232,272 | |||||||
| Energy - 5.2% | ||||||||
| PetroChina Co., Ltd. Class H (China) | 80,000 | 122,873 | ||||||
| Petroleo Brasileiro SA - Petrobras (Brazil) | 13,800 | 152,525 | ||||||
| Turkiye Petrol Rafinerileri AS (Turkey) | 44,600 | 267,493 | ||||||
| Total Energy | 542,891 | |||||||
| Financials - 20.4% | ||||||||
| Bank Mandiri Persero Tbk PT (Indonesia) | 855,000 | 216,837 | ||||||
| Bank of China Ltd. Class H (China) | 80,000 | 51,682 | ||||||
| Bank of Cyprus Holdings PLC (Cyprus) | 2,900 | 31,313 | ||||||
| Bank Polska Kasa Opieki SA (Poland) | 3,928 | 245,229 | ||||||
| Credit Agricole SA (France) | 3,672 | 71,519 | ||||||
| CTBC Financial Holding Co., Ltd. (Taiwan) | 56,000 | 92,436 | ||||||
| Emirates NBD Bank PJSC (United Arab Emirates) | 3,854 | 30,428 | ||||||
| First Abu Dhabi Bank PJSC (United Arab Emirates) | 11,856 | 56,680 | ||||||
| Grupo Cibest SA (Colombia)(1) | 4,312 | 294,035 | ||||||
| Hana Financial Group, Inc. (South Korea) | 2,344 | 202,129 | ||||||
| Industrial & Commercial Bank of China Ltd. Class H (China) | 200,000 | 179,508 | ||||||
| New China Life Insurance Co., Ltd. Class H (China) | 22,800 | 149,041 | ||||||
| Piraeus Bank SA (Greece)* | 10,672 | 99,576 | ||||||
| Powszechny Zaklad Ubezpieczen SA (Poland) | 2,272 | 39,864 | ||||||
| SinoPac Financial Holdings Co., Ltd. (Taiwan) | 64,000 | 62,516 | ||||||
| State Bank of India (India)(2) | 2,568 | 293,266 | ||||||
| Total Financials | 2,116,059 | |||||||
| Industrials - 11.3% | ||||||||
| COSCO SHIPPING Holdings Co., Ltd Class H (China) | 136,000 | 250,035 | ||||||
| Evergreen Marine Corp. Taiwan Ltd. (Taiwan) | 40,000 | 255,014 | ||||||
| HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (South Korea) | 352 | 109,526 | ||||||
| Sinotruk Hong Kong Ltd. (China) | 36,000 | 176,771 | ||||||
| SITC International Holdings Co., Ltd. (China) | 48,000 | 200,273 | ||||||
| Yutong Bus Co., Ltd. (China) | 34,400 | 178,251 | ||||||
| Security Description | Shares | Value | ||||||
| COMMON STOCKS (continued) | ||||||||
| Information Technology - 34.3% | ||||||||
| Cirrus Logic, Inc.* | 520 | $ | 84,802 | |||||
| Delta Electronics, Inc. (Taiwan) | 7,000 | 478,310 | ||||||
| Infosys Ltd. (India)(1) | 8,640 | 107,654 | ||||||
| Oracle Financial Services Software Ltd. (India) | 860 | 88,130 | ||||||
| Samsung Electronics Co., Ltd. (South Korea) | 3,944 | 586,335 | ||||||
| SK hynix, Inc. (South Korea) | 504 | 436,990 | ||||||
| Synnex Technology International Corp. (Taiwan) | 30,000 | 78,114 | ||||||
| Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan) | 24,000 | 1,617,195 | ||||||
| United Microelectronics Corp. (Taiwan) | 36,000 | 87,828 | ||||||
| Total Information Technology | 3,565,358 | |||||||
| Materials - 10.3% | ||||||||
| Aneka Tambang Tbk (Indonesia) | 474,400 | 102,499 | ||||||
| China Hongqiao Group Ltd. (China) | 52,000 | 216,963 | ||||||
| Tata Steel Ltd. (India)(2) | 9,320 | 205,972 | ||||||
| Vale SA (Brazil)(1) | 20,258 | 331,421 | ||||||
| Zijin Mining Group Co., Ltd. Class H (China) | 48,000 | 218,658 | ||||||
| Total Materials | 1,075,513 | |||||||
| Real Estate - 1.1% | ||||||||
| CapitaLand Integrated Commercial Trust (Singapore) | 15,200 | 28,184 | ||||||
| Emaar Development PJSC (United Arab Emirates) | 21,360 | 84,786 | ||||||
| Total Real Estate | 112,970 | |||||||
| Utilities - 2.8% | ||||||||
| Cia de Saneamento de Minas Gerais Copasa MG (Brazil) | 7,200 | 78,575 | ||||||
| CPFL Energia SA (Brazil) | 12,800 | 126,480 | ||||||
| Perusahaan Gas Negara Persero Tbk PT (Indonesia) | 808,000 | 90,556 | ||||||
| Total Utilities | 295,611 | |||||||
| Total Common Stocks | ||||||||
| (Cost $9,351,278) | 9,607,581 | |||||||
| PREFERRED STOCKS - 4.6% | ||||||||
| Information Technology - 3.3% | ||||||||
| Samsung Electronics Co., Ltd., 0.00% (South Korea) | 3,200 | 341,532 | ||||||
| Materials - 0.9% | ||||||||
| Bradespar SA, 7.91% (Brazil) | 19,000 | 88,021 | ||||||
| Utilities - 0.4% | ||||||||
| Cia De Sanena Do Parana, 0.00% (Brazil) | 29,160 | 46,403 | ||||||
| Total Preferred Stocks | ||||||||
| (Cost $393,458) | 475,956 | |||||||
| TOTAL INVESTMENTS - 97.0% | ||||||||
| (Cost $9,744,736) | 10,083,537 | |||||||
| Other Assets in Excess of Liabilities - 3.0% | 309,223 | |||||||
| Net Assets - 100.0% | $ | 10,392,760 | ||||||
Schedule of Investments - Virtus Emerging Markets Dividend ETF (continued)
April 30, 2026 (unaudited)
| * | Non-income producing security. |
| (1) | American Depositary Receipts. |
| (2) | Global Depositary Receipts. |
| 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 | $ | 9,607,581 | $ | — | $ | — | $ | 9,607,581 | ||||||||
| Preferred Stocks | 475,956 | — | — | 475,956 | ||||||||||||
| Total | $ | 10,083,537 | $ | — | $ | — | $ | 10,083,537 | ||||||||