Schedule of Investments - Virtus Duff & Phelps Real Estate Income ETF
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS - 70.8% | ||||||||
| Real Estate - 70.8% | ||||||||
| American Healthcare REIT, Inc. | 1,042 | $ | 52,913 | |||||
| American Homes 4 Rent Class A | 1,575 | 50,148 | ||||||
| Apple Hospitality REIT, Inc. | 3,082 | 41,515 | ||||||
| Brixmor Property Group, Inc. | 2,175 | 65,446 | ||||||
| Broadstone Net Lease, Inc. | 2,047 | 40,531 | ||||||
| Cousins Properties, Inc. | 2,317 | 59,338 | ||||||
| CubeSmart | 2,625 | 106,260 | ||||||
| Digital Realty Trust, Inc. | 832 | 167,182 | ||||||
| Equinix, Inc. | 157 | 170,004 | ||||||
| Equity Residential | 1,200 | 78,456 | ||||||
| Extra Space Storage, Inc. | 427 | 61,202 | ||||||
| FrontView REIT, Inc. | 1,612 | 28,532 | ||||||
| Gaming and Leisure Properties, Inc. | 2,100 | 101,766 | ||||||
| Healthpeak Properties, Inc. | 4,522 | 73,121 | ||||||
| Highwoods Properties, Inc. | 3,397 | 82,581 | ||||||
| Iron Mountain, Inc. | 825 | 103,942 | ||||||
| Kimco Realty Corp. | 2,760 | 65,246 | ||||||
| Mid-America Apartment Communities, Inc. | 495 | 63,944 | ||||||
| Millrose Properties, Inc. | 1,575 | 48,305 | ||||||
| Prologis, Inc. | 1,597 | 226,806 | ||||||
| Realty Income Corp. | 1,860 | 119,486 | ||||||
| Rexford Industrial Realty, Inc. | 667 | 23,939 | ||||||
| Ryman Hospitality Properties, Inc. | 772 | 81,129 | ||||||
| Sabra Health Care REIT, Inc. | 3,757 | 77,620 | ||||||
| Sila Realty Trust, Inc. | 1,710 | 52,035 | ||||||
| Simon Property Group, Inc. | 750 | 152,783 | ||||||
| Tritax Big Box REIT PLC (United Kingdom) | 19,177 | 39,404 | ||||||
| UDR, Inc. | 1,800 | 65,412 | ||||||
| Ventas, Inc. | 562 | 49,377 | ||||||
| Welltower, Inc. | 1,492 | 324,271 | ||||||
| WP Carey, Inc. | 532 | 38,799 | ||||||
| Total Real Estate | 2,711,493 | |||||||
| Total Common Stocks | ||||||||
| (Cost $2,632,628) | 2,711,493 | |||||||
| Principal | ||||||||
| CORPORATE BONDS – 27.4% | ||||||||
| Financials – 27.4% | ||||||||
| American Tower Corp., 5.80%, 11/15/28 | 60,000 | 61,826 | ||||||
| Boston Properties LP, 4.50%, 12/01/28 | 35,000 | 34,945 | ||||||
| Boston Properties LP, 6.50%, 01/15/34 | 60,000 | 63,340 | ||||||
| Brixmor Operating Partnership LP, 5.50%, 02/15/34 | 60,000 | 61,169 | ||||||
| Cousins Properties LP, 5.38%, 02/15/32 | 60,000 | 60,683 | ||||||
| Crown Castle, Inc., 5.10%, 05/01/33 | 60,000 | 59,525 | ||||||
| CubeSmart LP, 5.13%, 11/01/35 | 65,000 | 64,389 | ||||||
| Digital Realty Trust LP, 3.70%, 08/15/27 | 60,000 | 59,467 | ||||||
| Essex Portfolio LP, 5.50%, 04/01/34 | 65,000 | 66,359 | ||||||
| Extra Space Storage LP, 5.90%, 01/15/31 | 50,000 | 52,091 | ||||||
| Federal Realty Op LP, 5.38%, 05/01/28 | 60,000 | 60,936 | ||||||
| Highwoods Realty LP, 3.88%, 03/01/27 | 45,000 | 44,702 | ||||||
| Kimco Realty Op LLC, 6.40%, 03/01/34 | 55,000 | 59,798 | ||||||
| Realty Income Corp., 5.13%, 02/15/34 | 60,000 | 60,478 | ||||||
| Simon Property Group LP, 4.75%, 09/26/34 | 60,000 | 58,715 | ||||||
| Tanger Properties LP, 3.88%, 07/15/27 | 35,000 | 34,744 | ||||||
| Ventas Realty LP, 4.40%, 01/15/29 | 50,000 | 49,734 | ||||||
| VICI Properties LP, 5.13%, 05/15/32 | 45,000 | 44,630 | ||||||
| Weyerhaeuser Co., 7.38%, 03/15/32 | 45,000 | 50,391 | ||||||
| Total Financials | 1,047,922 | |||||||
| Total Corporate Bonds | ||||||||
| (Cost $1,054,196) | 1,047,922 | |||||||
| Security Description | Shares | Value | ||||||
| PREFERRED STOCKS - 0.8% | ||||||||
| Real Estate - 0.8% | ||||||||
| Kimco Realty Corp., Series N, 7.25% | 300 | $ | 18,060 | |||||
| Public Storage, Series S, 4.10% | 750 | 12,143 | ||||||
| Total Real Estate | 30,203 | |||||||
| Total Preferred Stocks | ||||||||
| (Cost $30,296) | 30,203 | |||||||
| TOTAL INVESTMENTS - 99.0% | ||||||||
| (Cost $3,717,120) | 3,789,618 | |||||||
| Other Assets in Excess of Liabilities - 1.0% | 37,243 | |||||||
| Net Assets - 100.0% | $ | 3,826,861 | ||||||
Schedule of Investments - Virtus Duff & Phelps Real Estate Income 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 | $ | 2,711,493 | $ | — | $ | — | $ | 2,711,493 | ||||||||
| Corporate Bonds | — | 1,047,922 | — | 1,047,922 | ||||||||||||
| Preferred Stocks | 30,203 | — | — | 30,203 | ||||||||||||
| Total | $ | 2,741,696 | $ | 1,047,922 | $ | — | $ | 3,789,618 | ||||||||