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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Toronto-Dominion Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Voya Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Citizens Financial Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Electric Power Co., Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntington Bancshares, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Mercantil del Norte SA</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HA Sustainable Infrastructure Capital, Inc.</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA Sustainable Infrastructure Capital, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc., Series L</title>
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        <fairValLevel>1</fairValLevel>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lincoln National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Holding Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>CoBank ACB</name>
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        <name>Citigroup, Inc.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Charles Schwab Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>State Street Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lincoln National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BP Capital Markets plc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>KeyCorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Barclays plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corebridge Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>T-Mobile USA, Inc.</name>
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        <title>T-Mobile USA, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Morgan Stanley &amp; Co. LLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brookfield BRP Holdings Canada, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Synchrony Financial</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Liberty Mutual Group, Inc.</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-21</maturityDt>
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        <fairValLevel>1</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Duke Energy Corp.</name>
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    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Morgan Stanley ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>James F. Kirchner</ncom:signature>
      <ncom:signerName>James F. Kirchner</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
