Schedule of Investments - Virtus Terranova U.S. Quality Momentum ETF
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS - 99.4% | ||||||||
| Communication Services - 3.2% | ||||||||
| Alphabet, Inc. Class A | 5,339 | $ | 2,054,447 | |||||
| Fox Corp. Class A | 29,288 | 1,859,495 | ||||||
| Meta Platforms, Inc. Class A | 2,756 | 1,686,424 | ||||||
| Walt Disney Co. (The) | 18,274 | 1,895,928 | ||||||
| Total Communication Services | 7,496,294 | |||||||
| Consumer Discretionary - 11.0% | ||||||||
| Airbnb, Inc. Class A* | 13,259 | 1,861,033 | ||||||
| Amazon.com, Inc.* | 7,163 | 1,898,625 | ||||||
| Burlington Stores, Inc.* | 5,732 | 1,834,297 | ||||||
| Carvana Co.* | 4,598 | 1,819,888 | ||||||
| eBay, Inc. | 18,649 | 1,929,798 | ||||||
| Expedia Group, Inc. | 7,627 | 1,894,318 | ||||||
| Garmin Ltd. | 7,268 | 1,825,286 | ||||||
| Las Vegas Sands Corp. | 34,337 | 1,875,144 | ||||||
| PulteGroup, Inc. | 14,580 | 1,784,009 | ||||||
| Ross Stores, Inc. | 8,270 | 1,883,823 | ||||||
| Royal Caribbean Cruises Ltd. | 7,225 | 1,905,666 | ||||||
| TJX Cos., Inc. (The) | 11,877 | 1,861,720 | ||||||
| Ulta Beauty, Inc.* | 3,466 | 1,862,906 | ||||||
| Williams-Sonoma, Inc. | 9,739 | 1,764,804 | ||||||
| Total Consumer Discretionary | 26,001,317 | |||||||
| Consumer Staples - 1.6% | ||||||||
| Monster Beverage Corp.* | 24,334 | 1,875,421 | ||||||
| Walmart, Inc. | 14,659 | 1,933,962 | ||||||
| Total Consumer Staples | 3,809,383 | |||||||
| Energy - 5.8% | ||||||||
| Baker Hughes Co. | 27,352 | 1,905,614 | ||||||
| Coterra Energy, Inc. | 55,549 | 1,994,765 | ||||||
| Devon Energy Corp. | 38,804 | 1,993,361 | ||||||
| Diamondback Energy, Inc. | 9,522 | 1,958,009 | ||||||
| EOG Resources, Inc. | 14,039 | 1,973,462 | ||||||
| EQT Corp. | 31,895 | 1,916,252 | ||||||
| SLB Ltd. | 33,865 | 1,926,241 | ||||||
| Total Energy | 13,667,704 | |||||||
| Financials - 15.0% | ||||||||
| Allstate Corp. (The) | 8,732 | 1,897,114 | ||||||
| American Express Co. | 5,866 | 1,895,011 | ||||||
| Capital One Financial Corp. | 9,635 | 1,843,176 | ||||||
| Charles Schwab Corp. (The) | 20,607 | 1,888,425 | ||||||
| Chubb Ltd. | 5,762 | 1,884,174 | ||||||
| Cincinnati Financial Corp. | 11,292 | 1,847,371 | ||||||
| CME Group, Inc. | 6,634 | 1,909,398 | ||||||
| Fifth Third Bancorp | 37,161 | 1,886,292 | ||||||
| Hartford Insurance Group, Inc. (The) | 13,681 | 1,871,698 | ||||||
| Markel Group, Inc.* | 987 | 1,749,428 | ||||||
| MetLife, Inc. | 24,081 | 1,928,888 | ||||||
| Nasdaq, Inc. | 20,683 | 1,900,975 | ||||||
| NU Holdings Ltd. Class A (Brazil)* | 127,755 | 1,849,892 | ||||||
| Principal Financial Group, Inc. | 18,752 | 1,892,264 | ||||||
| Raymond James Financial, Inc. | 12,121 | 1,918,997 | ||||||
| Robinhood Markets, Inc. Class A* | 22,279 | 1,623,916 | ||||||
| Synchrony Financial | 24,369 | 1,856,918 | ||||||
| T Rowe Price Group, Inc. | 18,452 | 1,898,342 | ||||||
| Travelers Cos., Inc. (The) | 6,158 | 1,879,052 | ||||||
| Total Financials | 35,421,331 | |||||||
| Security Description | Shares | Value | ||||||
| COMMON STOCKS (continued) | ||||||||
| Health Care - 11.0% | ||||||||
| Agilent Technologies, Inc. | 16,177 | $ | 1,869,252 | |||||
| Alnylam Pharmaceuticals, Inc.* | 6,062 | 1,876,128 | ||||||
| Amgen, Inc. | 5,498 | 1,903,683 | ||||||
| Cencora, Inc. | 6,030 | 1,857,300 | ||||||
| Edwards Lifesciences Corp.* | 22,410 | 1,871,235 | ||||||
| Eli Lilly & Co. | 2,154 | 2,013,128 | ||||||
| GE HealthCare Technologies, Inc. | 26,537 | 1,614,511 | ||||||
| Gilead Sciences, Inc. | 14,641 | 1,915,629 | ||||||
| IDEXX Laboratories, Inc.* | 3,253 | 1,824,283 | ||||||
| Illumina, Inc.* | 14,553 | 1,844,447 | ||||||
| Incyte Corp.* | 19,541 | 1,861,671 | ||||||
| Merck & Co., Inc. | 16,968 | 1,852,566 | ||||||
| Regeneron Pharmaceuticals, Inc. | 2,512 | 1,776,135 | ||||||
| West Pharmaceutical Services, Inc. | 6,189 | 1,841,785 | ||||||
| Total Health Care | 25,921,753 | |||||||
| Industrials - 23.2% | ||||||||
| AMETEK, Inc. | 8,028 | 1,890,594 | ||||||
| Boeing Co. (The)* | 8,085 | 1,851,708 | ||||||
| Caterpillar, Inc. | 2,257 | 2,008,978 | ||||||
| Cummins, Inc. | 2,830 | 1,898,958 | ||||||
| Delta Air Lines, Inc. | 27,424 | 1,864,558 | ||||||
| Eaton Corp. PLC | 4,488 | 1,943,349 | ||||||
| Expeditors International of Washington, Inc. | 12,629 | 1,867,703 | ||||||
| Fastenal Co. | 41,306 | 1,855,879 | ||||||
| Ferguson Enterprises, Inc. | 7,079 | 1,895,119 | ||||||
| GE Vernova, Inc. | 1,670 | 1,809,378 | ||||||
| General Dynamics Corp. | 5,985 | 2,060,636 | ||||||
| HEICO Corp. | 7,028 | 1,896,998 | ||||||
| Howmet Aerospace, Inc. | 7,738 | 1,880,644 | ||||||
| Hubbell, Inc. | 3,368 | 1,711,517 | ||||||
| Leidos Holdings, Inc. | 12,967 | 1,934,936 | ||||||
| Lockheed Martin Corp. | 3,643 | 1,886,965 | ||||||
| Northrop Grumman Corp. | 3,251 | 1,883,889 | ||||||
| Old Dominion Freight Line, Inc. | 8,481 | 1,801,619 | ||||||
| Parker-Hannifin Corp. | 1,920 | 1,746,086 | ||||||
| Quanta Services, Inc. | 2,935 | 2,136,005 | ||||||
| RTX Corp. | 10,787 | 1,899,267 | ||||||
| Textron, Inc. | 21,139 | 2,028,498 | ||||||
| Trane Technologies PLC | 3,849 | 1,895,786 | ||||||
| United Airlines Holdings, Inc.* | 20,352 | 1,831,680 | ||||||
| United Rentals, Inc. | 1,949 | 1,870,728 | ||||||
| Vertiv Holdings Co. Class A | 5,801 | 1,905,570 | ||||||
| Westinghouse Air Brake Technologies Corp. | 6,999 | 1,888,960 | ||||||
| WW Grainger, Inc. | 1,615 | 1,875,580 | ||||||
| Xylem, Inc. | 15,143 | 1,789,297 | ||||||
| Total Industrials | 54,810,885 | |||||||
| Information Technology - 22.2% | ||||||||
| Advanced Micro Devices, Inc.* | 5,589 | 1,981,245 | ||||||
| Amphenol Corp. Class A | 12,583 | 1,853,098 | ||||||
| Apple, Inc. | 6,989 | 1,896,465 | ||||||
| Applied Materials, Inc. | 4,620 | 1,822,544 | ||||||
| AppLovin Corp. Class A* | 4,063 | 1,813,520 | ||||||
| Arista Networks, Inc.* | 10,844 | 1,872,867 | ||||||
| Broadcom, Inc. | 4,472 | 1,866,747 | ||||||
| Cadence Design Systems, Inc.* | 5,558 | 1,831,861 | ||||||
| Cisco Systems, Inc. | 21,191 | 1,938,977 | ||||||
Schedule of Investments - Virtus Terranova U.S. Quality Momentum ETF (continued)
April 30, 2026 (unaudited)
| Security Description | Shares | Value | ||||||
| COMMON STOCKS (continued) | ||||||||
| Information Technology (continued) | ||||||||
| Corning, Inc. | 11,132 | $ | 1,828,320 | |||||
| Datadog, Inc. Class A* | 14,099 | 1,863,747 | ||||||
| First Solar, Inc.* | 9,471 | 1,912,100 | ||||||
| Keysight Technologies, Inc.* | 5,491 | 1,921,356 | ||||||
| KLA Corp. | 984 | 1,722,344 | ||||||
| LAM Research Corp. | 7,208 | 1,858,655 | ||||||
| Marvell Technology, Inc. | 11,822 | 1,952,403 | ||||||
| Micron Technology, Inc. | 3,566 | 1,844,193 | ||||||
| Microsoft Corp. | 4,403 | 1,795,455 | ||||||
| Monolithic Power Systems, Inc. | 1,178 | 1,901,775 | ||||||
| NetApp, Inc. | 17,248 | 1,910,561 | ||||||
| NVIDIA Corp. | 8,635 | 1,723,287 | ||||||
| Oracle Corp. | 10,814 | 1,745,271 | ||||||
| Palantir Technologies, Inc. Class A* | 13,070 | 1,818,168 | ||||||
| Synopsys, Inc.* | 3,752 | 1,810,715 | ||||||
| TE Connectivity PLC (Switzerland) | 8,927 | 1,889,489 | ||||||
| Teledyne Technologies, Inc.* | 2,853 | 1,842,610 | ||||||
| Western Digital Corp. | 4,667 | 2,027,905 | ||||||
| Zoom Communications, Inc.* | 20,592 | 2,000,513 | ||||||
| Total Information Technology | 52,246,191 | |||||||
| Materials - 3.2% | ||||||||
| CRH PLC | 16,031 | 1,898,391 | ||||||
| Ecolab, Inc. | 6,982 | 1,819,509 | ||||||
| Newmont Corp. | 16,112 | 1,789,882 | ||||||
| Vulcan Materials Co. | 6,420 | 1,937,171 | ||||||
| Total Materials | 7,444,953 | |||||||
| Real Estate - 2.4% | ||||||||
| CBRE Group, Inc. Class A* | 12,791 | 1,825,660 | ||||||
| Simon Property Group, Inc. | 9,292 | 1,892,873 | ||||||
| Welltower, Inc. | 8,906 | 1,935,630 | ||||||
| Total Real Estate | 5,654,163 | |||||||
| Utilities - 0.8% | ||||||||
| Edison International | 27,276 | 1,895,409 | ||||||
| Total Common Stocks | ||||||||
| (Cost $212,536,533) | 234,369,383 | |||||||
| TOTAL INVESTMENTS - 99.4% | ||||||||
| (Cost $212,536,533) | 234,369,383 | |||||||
| Other Assets in Excess of Liabilities - 0.6% | 1,509,698 | |||||||
| Net Assets - 100.0% | $ | 235,879,081 | ||||||
| * | Non-income producing security. |
Schedule of Investments - Virtus Terranova U.S. Quality Momentum 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 | $ | 234,369,383 | $ | — | $ | — | $ | 234,369,383 | ||||||||
| Total | $ | 234,369,383 | $ | — | $ | — | $ | 234,369,383 | ||||||||