UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-01027
| Name of Registrant: | Vanguard World Fund | |
| Address of Registrant: | P.O. Box 2600 | |
| Valley Forge, PA 19482 |
| Name and address of agent for service: | Natalie Lamarque, Esquire | |
| P.O. Box 876 | ||
| Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: August 31
Date of reporting period: September 1, 2025—February 28, 2026
Item 1: Reports to Shareholders.
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Extended Duration Treasury Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$4,723 |
| Number of Portfolio Holdings | 82 |
| Portfolio Turnover Rate | 9% |
| Distribution by Stated Maturity % of Net Asset (as of February 28, 2026) |
|
| 15 - 20 Years | 0.5% |
| 20 - 25 Years | 54.4% |
| 25 - 30 Years | 45.1% |
| Other Assets and Liabilities—Net | 0.0% |
| This table reflects the Fund’s investments, including short-term investments and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Capital Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR930
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Extended Duration Treasury Index Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$4,723 |
| Number of Portfolio Holdings | 82 |
| Portfolio Turnover Rate | 9% |
| Distribution by Stated Maturity % of Net Asset (as of February 28, 2026) |
|
| 15 - 20 Years | 0.5% |
| 20 - 25 Years | 54.4% |
| 25 - 30 Years | 45.1% |
| Other Assets and Liabilities—Net | 0.0% |
| This table reflects the Fund’s investments, including short-term investments and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Capital Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Institutional Investor Services • 800-523-1036
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR1275
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard ESG U.S. Stock ETF (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$11,684 |
| Number of Portfolio Holdings | 1,268 |
| Portfolio Turnover Rate | 1% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Basic Materials | 1.7% |
| Consumer Discretionary | 15.6% |
| Consumer Staples | 3.9% |
| Energy | 0.1% |
| Financials | 10.1% |
| Health Care | 10.7% |
| Industrials | 8.4% |
| Real Estate | 2.8% |
| Technology | 43.2% |
| Telecommunications | 2.5% |
| Utilities | 0.5% |
| Other Assets and Liabilities—Net | 0.5% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Portfolio Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR4393
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard ESG International Stock ETF (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| ETF Shares | $5 | 0.10%1 |
|
1
|
Annualized.
|
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$6,354 |
| Number of Portfolio Holdings | 6,610 |
| Portfolio Turnover Rate | 3% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 1.4% |
| Asia | 49.7% |
| Europe | 35.7% |
| North America | 7.1% |
| Oceania | 4.5% |
| South America | 1.2% |
| Other Assets and Liabilities—Net | 0.4% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Capital Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR4394
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Global Wellington Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Shares | $22 | 0.41%1 |
|
1
|
Annualized.
|
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 0.2% |
| Asia | 16.1% |
| Europe | 24.8% |
| North America | 54.2% |
| Oceania | 0.8% |
| South America | 0.0% |
| Other Assets and Liabilities—Net | 3.9% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities through its wholly-owned subsidiaries, Vanguard Capital Management, LLC and Vanguard Portfolio Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR1567
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Global Wellington Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Admiral Shares | $15 | 0.28%1 |
|
1
|
Annualized.
|
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 0.2% |
| Asia | 16.1% |
| Europe | 24.8% |
| North America | 54.2% |
| Oceania | 0.8% |
| South America | 0.0% |
| Other Assets and Liabilities—Net | 3.9% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities through its wholly-owned subsidiaries, Vanguard Capital Management, LLC and Vanguard Portfolio Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR1767
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Global Wellesley Income Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Shares | $21 | 0.41%1 |
|
1
|
Annualized.
|
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$755 |
| Number of Portfolio Holdings | 592 |
| Portfolio Turnover Rate | 51% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 1.1% |
| Asia | 7.5% |
| Europe | 30.4% |
| North America | 54.9% |
| Oceania | 1.6% |
| South America | 0.1% |
| Other Assets and Liabilities—Net | 4.4% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities through its wholly-owned subsidiaries, Vanguard Capital Management, LLC and Vanguard Portfolio Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR1496
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Global Wellesley Income Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Admiral Shares | $15 | 0.28%1 |
|
1
|
Annualized.
|
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$755 |
| Number of Portfolio Holdings | 592 |
| Portfolio Turnover Rate | 51% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 1.1% |
| Asia | 7.5% |
| Europe | 30.4% |
| North America | 54.9% |
| Oceania | 1.6% |
| South America | 0.1% |
| Other Assets and Liabilities—Net | 4.4% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities through its wholly-owned subsidiaries, Vanguard Capital Management, LLC and Vanguard Portfolio Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR1896
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard ESG U.S. Corporate Bond ETF (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| ETF Shares | $6 | 0.12%1 |
|
1
|
Annualized.
|
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$1,072 |
| Number of Portfolio Holdings | 2,751 |
| Portfolio Turnover Rate | 15% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Communications | 12.6% |
| Consumer Discretionary | 7.2% |
| Consumer Staples | 3.5% |
| Financials | 42.5% |
| Health Care | 15.3% |
| Industrials | 1.9% |
| Materials | 1.1% |
| Real Estate | 1.8% |
| Technology | 12.1% |
| Utilities | 0.2% |
| U.S. Government and Agency Obligations | 0.3% |
| Other Assets and Liabilities—Net | 1.5% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Capital Management, LLC.
This is a summary of certain changes to the Fund since August 31, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SR4158
Semi-Annual Shareholder Report | February 28, 2026
This semi-annual shareholder report contains important information about Vanguard Emerging Markets Ex-China ETF (the "Fund") for the period of September 30, 2025, to February 28, 2026. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last period?
(based on a hypothetical $10,000 investment)
| Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| ETF Shares | $31 | 0.07%2 |
|
1
|
Costs would be higher for a full year.
|
|
|
2
|
Annualized.
|
| Fund Statistics (as of February 28, 2026) |
|
| Fund Net Assets (in millions) |
$195 |
| Number of Portfolio Holdings | 1,037 |
| Portfolio Turnover Rate | 6% |
| Portfolio Composition % of Net Assets (as of February 28, 2026) |
|
| Africa | 6.8% |
| Asia | 78.7% |
| Europe | 2.2% |
| North America | 3.5% |
| South America | 8.2% |
| Other Assets and Liabilities—Net | 0.6% |
| This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities. | |
How has the Fund changed?
Effective January 12, 2026, The Vanguard Group, Inc. exercises portfolio management responsibilities for the fund through its wholly-owned subsidiary, Vanguard Capital Management, LLC.
This is a summary of certain changes to the Fund since September 30, 2025. For more complete information, you may review the Fund’s prospectus at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2026 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
SRV051
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
Not applicable. The complete schedule of investments is included in the financial statements filed under Item 7 of this Form.
Financial Statements
For the six-months ended
February 28, 2026
Vanguard Extended Duration Treasury Index
Fund
Contents
Financial Statements | 1 |
Extended Duration Treasury Index Fund
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| U.S. Government and Agency Obligations (100.0%) | ||||||
| U.S. Government Securities (100.0%) | ||||||
| United States Treasury Strip Coupon | 0.000% | 2/15/2046 | 58,542 | 22,276 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2046 | 214,119 | 80,545 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2046 | 220,492 | 81,823 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2046 | 196,955 | 72,304 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2047 | 200,240 | 72,430 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2047 | 189,067 | 67,621 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2047 | 180,606 | 63,762 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2047 | 184,924 | 64,543 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2048 | 183,498 | 63,314 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2048 | 183,130 | 62,379 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2048 | 198,716 | 66,795 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2048 | 197,285 | 65,497 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2049 | 200,451 | 65,679 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2049 | 198,861 | 64,436 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2049 | 207,231 | 66,273 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2049 | 199,399 | 62,990 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2050 | 191,139 | 59,641 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2050 | 204,324 | 62,822 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2050 | 190,401 | 57,886 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2050 | 204,820 | 61,518 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2051 | 202,050 | 59,944 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2051 | 210,180 | 61,650 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2051 | 194,338 | 56,381 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2051 | 193,879 | 55,574 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2052 | 210,098 | 59,714 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2052 | 205,217 | 57,485 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2052 | 210,069 | 58,204 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2052 | 208,842 | 56,909 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2053 | 200,922 | 54,351 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2053 | 208,436 | 55,765 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2053 | 207,633 | 54,869 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2053 | 202,845 | 53,152 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2054 | 229,109 | 59,139 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2054 | 226,767 | 58,224 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2054 | 206,917 | 53,039 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2054 | 209,418 | 53,222 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2055 | 181,497 | 45,615 | ||
| United States Treasury Strip Coupon | 0.000% | 5/15/2055 | 112,537 | 28,191 | ||
| United States Treasury Strip Coupon | 0.000% | 8/15/2055 | 52,812 | 13,108 | ||
| United States Treasury Strip Coupon | 0.000% | 11/15/2055 | 18,005 | 4,434 | ||
| United States Treasury Strip Coupon | 0.000% | 2/15/2056 | 12,497 | 3,051 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2046 | 208,566 | 80,387 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2046 | 192,194 | 73,131 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2046 | 198,282 | 74,511 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2047 | 179,429 | 66,501 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2047 | 202,082 | 73,902 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2047 | 176,859 | 63,773 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2047 | 179,239 | 63,868 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2048 | 196,490 | 69,063 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2048 | 144,289 | 50,073 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2048 | 183,555 | 62,889 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2048 | 173,825 | 58,822 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2049 | 174,636 | 58,326 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2049 | 167,571 | 55,292 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2049 | 178,380 | 58,141 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2049 | 166,433 | 53,571 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2050 | 184,807 | 58,777 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2050 | 186,175 | 58,907 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2050 | 181,194 | 56,290 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2050 | 180,396 | 55,274 | ||
1
Extended Duration Treasury Index Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| United States Treasury Strip Principal | 0.000% | 2/15/2051 | 182,722 | 55,302 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2051 | 178,400 | 53,360 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2051 | 189,162 | 55,899 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2051 | 188,962 | 55,227 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2052 | 189,900 | 54,841 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2052 | 191,995 | 54,794 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2052 | 196,536 | 55,491 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2052 | 207,864 | 58,113 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2053 | 196,429 | 54,233 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2053 | 201,173 | 54,937 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2053 | 184,412 | 49,957 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2053 | 195,237 | 52,462 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2054 | 230,154 | 60,991 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2054 | 248,025 | 65,368 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2054 | 238,954 | 62,007 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2054 | 266,162 | 68,537 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2055 | 256,961 | 65,485 | ||
| United States Treasury Strip Principal | 0.000% | 5/15/2055 | 260,815 | 65,795 | ||
| United States Treasury Strip Principal | 0.000% | 8/15/2055 | 287,836 | 71,936 | ||
| United States Treasury Strip Principal | 0.000% | 11/15/2055 | 272,843 | 67,486 | ||
| United States Treasury Strip Principal | 0.000% | 2/15/2056 | 253,065 | 61,912 | ||
| Total U.S. Government and Agency Obligations (Cost $5,458,306) | 4,722,186 | |||||
| Shares | ||||||
| Temporary Cash Investments (0.0%) | ||||||
| Money Market Fund (0.0%) | ||||||
| 1 | Vanguard Market Liquidity Fund (Cost $560) | 3.693% | 5,602 | 560 | ||
| Total Investments (100.0%) (Cost $5,458,866) | 4,722,746 | |||||
| Other Assets and Liabilities—Net (0.0%) | 382 | |||||
| Net Assets (100%) | 4,723,128 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| 1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
See accompanying Notes,
which are an integral part of the Financial Statements.
2
Extended Duration Treasury Index Fund
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value | |
| Unaffiliated Issuers (Cost $5,458,306) | 4,722,186 |
| Affiliated Issuers (Cost $560) | 560 |
| Total Investments in Securities | 4,722,746 |
| Investment in Vanguard | 104 |
| Receivables for Investment Securities Sold | 136,902 |
| Receivables for Accrued Income | 1 |
| Total Assets | 4,859,753 |
| Liabilities | |
| Payables for Investment Securities Purchased | 136,530 |
| Payables for Capital Shares Redeemed | 12 |
| Payables to Vanguard | 83 |
| Total Liabilities | 136,625 |
| Net Assets | 4,723,128 |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 6,588,641 |
| Total Distributable Earnings (Loss) | (1,865,513) |
| Net Assets | 4,723,128 |
| ETF Shares—Net Assets | |
| Applicable to 58,650,010 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,037,629 |
| Net Asset Value Per Share—ETF Shares | $68.84 |
| Institutional Shares—Net Assets | |
| Applicable to 32,959,324 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 685,499 |
| Net Asset Value Per Share—Institutional Shares | $20.80 |
See accompanying Notes,
which are an integral part of the Financial Statements.
3
Extended Duration Treasury Index Fund
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest1 | 112,527 |
| Total Income | 112,527 |
| Expenses | |
| The Vanguard Group—Note C | |
| Investment Advisory Services | 76 |
| Management and Administrative—ETF Shares | 766 |
| Management and Administrative—Institutional Shares | 142 |
| Marketing and Distribution—ETF Shares | 95 |
| Marketing and Distribution—Institutional Shares | 12 |
| Custodian Fees | 12 |
| Shareholders’ Reports—ETF Shares | 40 |
| Shareholders’ Reports—Institutional Shares | 1 |
| Trustees’ Fees and Expenses | 1 |
| Other Expenses | 8 |
| Total Expenses | 1,153 |
| Net Investment Income | 111,374 |
| Realized Net Gain (Loss) on Investment Securities Sold1,2 | (103,618) |
| Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | 416,394 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 424,150 |
| 1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $36, less than $1, and less than $1, respectively. Purchases and sales are for temporary cash investment purposes. |
| 2 | Includes $11,631 of net gain (loss) resulting from in-kind redemptions. |
See accompanying Notes,
which are an integral part of the Financial Statements.
4
Extended Duration Treasury Index Fund
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 111,374 | 209,523 | |
| Realized Net Gain (Loss) | (103,618) | (386,289) | |
| Change in Unrealized Appreciation (Depreciation) | 416,394 | (447,582) | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 424,150 | (624,348) | |
| Distributions | |||
| ETF Shares | (94,678) | (171,938) | |
| Institutional Shares | (16,102) | (33,855) | |
| Institutional Plus Shares | — | (1,473) | |
| Total Distributions | (110,780) | (207,266) | |
| Capital Share Transactions | |||
| ETF Shares | 89,767 | 414,121 | |
| Institutional Shares | (24,134) | (84,479) | |
| Institutional Plus Shares | — | (148,191) | |
| Net Increase (Decrease) from Capital Share Transactions | 65,633 | 181,451 | |
| Total Increase (Decrease) | 379,003 | (650,163) | |
| Net Assets | |||
| Beginning of Period | 4,344,125 | 4,994,288 | |
| End of Period | 4,723,128 | 4,344,125 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
5
Extended Duration Treasury Index Fund
Financial Highlights
| ETF Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $64.18 | $77.32 | $78.52 | $96.31 | $140.69 | $163.11 |
| Investment Operations | ||||||
| Net Investment Income1 | 1.605 | 3.235 | 3.203 | 3.033 | 2.769 | 2.795 |
| Net Realized and Unrealized Gain (Loss) on Investments2 | 4.664 | (13.166) | (1.385) | (18.048) | (44.418) | (17.061) |
| Total from Investment Operations | 6.269 | (9.931) | 1.818 | (15.015) | (41.649) | (14.266) |
| Distributions | ||||||
| Dividends from Net Investment Income | (1.609) | (3.209) | (3.018) | (2.775) | (2.731) | (2.820) |
| Distributions from Realized Capital Gains | — | — | — | — | — | (5.334) |
| Total Distributions | (1.609) | (3.209) | (3.018) | (2.775) | (2.731) | (8.154) |
| Net Asset Value, End of Period | $68.84 | $64.18 | $77.32 | $78.52 | $96.31 | $140.69 |
| Total Return | 9.87% | -13.16% | 2.64% | -15.83% | -30.00% | -8.94% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $4,038 | $3,682 | $3,961 | $2,356 | $1,312 | $1,277 |
| Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.06% | 0.06%3 | 0.06%3 | 0.06% |
| Ratio of Net Investment Income to Average Net Assets | 4.83% | 4.68% | 4.34% | 3.56% | 2.33% | 1.93% |
| Portfolio Turnover Rate4 | 9% | 15% | 22% | 24% | 15% | 23% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes increases from purchase fees of $.00, $.00, $.03, $.03, $.03, and $.07. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes,
which are an integral part of the Financial Statements.
6
Extended Duration Treasury Index Fund
Financial Highlights
| Institutional Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $19.39 | $23.36 | $23.72 | $29.09 | $42.50 | $49.27 |
| Investment Operations | ||||||
| Net Investment Income1 | .485 | .977 | .967 | .911 | .835 | .842 |
| Net Realized and Unrealized Gain (Loss) on Investments2 | 1.411 | (3.978) | (.415) | (5.444) | (13.425) | (5.143) |
| Total from Investment Operations | 1.896 | (3.001) | .552 | (4.533) | (12.590) | (4.301) |
| Distributions | ||||||
| Dividends from Net Investment Income | (.486) | (.969) | (.912) | (.837) | (.820) | (.857) |
| Distributions from Realized Capital Gains | — | — | — | — | — | (1.612) |
| Total Distributions | (.486) | (.969) | (.912) | (.837) | (.820) | (2.469) |
| Net Asset Value, End of Period | $20.80 | $19.39 | $23.36 | $23.72 | $29.09 | $42.50 |
| Total Return3 | 9.89% | -13.13% | 2.56% | -15.83% | -30.01% | -8.95% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $685 | $662 | $886 | $585 | $623 | $789 |
| Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.06% | 0.06%4 | 0.06%4 | 0.06% |
| Ratio of Net Investment Income to Average Net Assets | 4.82% | 4.67% | 4.35% | 3.52% | 2.29% | 1.96% |
| Portfolio Turnover Rate5 | 9% | 15% | 22% | 24% | 15% | 23% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes increases from purchase fees of $.00, $.00, $.00, $.00, $.00, and $.02. |
| 3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
| 5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes, which are an integral
part of the Financial Statements.
7
Extended Duration Treasury Index Fund
Notes to Financial Statements
Vanguard Extended Duration
Treasury Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: ETF Shares, Institutional Shares, and
Institutional Plus Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares are listed for trading on NYSE Arca; they
can be purchased and sold through a broker. The fund has not issued any Institutional Plus Shares through February 28, 2026.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and other temporary cash investments are valued using the latest bid prices
or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Investments in Vanguard Market
Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but
after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
2. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
3. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
4. Credit Facilities and
Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit
agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be
utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged
administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included
in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate,
the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based
upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to
be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
5. Other: Interest
income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the
lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or
sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold. Fees assessed on capital share transactions are credited to paid-in capital.
Each class of shares has equal
rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and
shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on
investments are allocated to each class of shares based on its relative net assets.
B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Capital Management, LLC.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate
management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines
approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $104,000, representing less than 0.01% of the fund’s
net assets and 0.04% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or
methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
8
Extended Duration Treasury Index Fund
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable
inputs are noted on the Schedule of Investments.
The following table summarizes
the market value of the fund's investments as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| U.S. Government and Agency Obligations | — | 4,722,186 | — | 4,722,186 |
| Temporary Cash Investments | 560 | — | — | 560 |
| Total | 560 | 4,722,186 | — | 4,722,746 |
E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 5,466,031 |
| Gross Unrealized Appreciation | 40,789 |
| Gross Unrealized Depreciation | (784,074) |
| Net Unrealized Appreciation (Depreciation) | (743,285) |
The fund’s tax-basis
capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $1,054,696,000 that may be carried forward indefinitely
to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses
for the year, the losses will be added to the loss carryforward balance above.
F. During the six months ended February 28, 2026, the fund purchased $399,323,000 of investment securities and sold $485,233,000 of investment securities, other than temporary cash
investments. In addition, the fund purchased and sold investment securities of $473,623,000 and $434,284,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital
shares.
G. Capital share transactions for each class of shares were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||||
| Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
| ETF Shares | |||||
| Issued1 | 525,144 | 7,775 | 2,357,857 | 34,200 | |
| Issued in Lieu of Cash Distributions | — | — | — | — | |
| Redeemed | (435,377) | (6,500) | (1,943,736) | (28,050) | |
| Net Increase (Decrease)—ETF Shares | 89,767 | 1,275 | 414,121 | 6,150 | |
| Institutional Shares | |||||
| Issued1 | 46,810 | 2,306 | 61,884 | 2,959 | |
| Issued in Lieu of Cash Distributions | 16,093 | 805 | 33,121 | 1,565 | |
| Redeemed | (87,037) | (4,292) | (179,484) | (8,311) | |
| Net Increase (Decrease)—Institutional Shares | (24,134) | (1,181) | (84,479) | (3,787) | |
| Institutional Plus Shares2 | |||||
| Issued1 | — | — | — | — | |
| Issued in Lieu of Cash Distributions | — | — | 1,473 | 25 | |
| Redeemed | — | — | (149,664) | (2,538) | |
| Net Increase (Decrease)—Institutional Plus Shares | — | — | (148,191) | (2,513) | |
| 1 | Includes purchase fees for fiscal 2026 and 2025 of $243 and $360, respectively (fund totals). |
| 2 | All outstanding shares were redeemed on October 3, 2024. |
H. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
9
Extended Duration Treasury Index Fund
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
Credit risk is the risk that a
counterparty to a transaction or an issuer of a financial instrument will fail to pay interest and principal when due, or that perceptions of the issuer’s ability to make such payments will cause the price of an
investment to decline. Investment in debt securities will generally increase credit risk.
I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q12752 042026
10
Financial Statements
For the six-months ended
February 28, 2026
Vanguard ESG U.S. Stock ETF
Contents
Financial Statements | 1 |
ESG U.S. Stock ETF
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
| Shares | Market Value• ($000) | |||||
| Common Stocks (99.5%) | ||||||
| Basic Materials (1.7%) | ||||||
| Linde plc | 104,176 | 52,930 | ||||
| Newmont Corp. | 243,876 | 31,704 | ||||
| Freeport-McMoRan Inc. | 317,791 | 21,635 | ||||
| Air Products and Chemicals Inc. | 49,583 | 13,668 | ||||
| Fastenal Co. | 253,991 | 11,694 | ||||
| Nucor Corp. | 51,017 | 9,024 | ||||
| Steel Dynamics Inc. | 30,405 | 5,872 | ||||
| International Paper Co. | 118,091 | 5,143 | ||||
| Royal Gold Inc. | 15,871 | 4,758 | ||||
| International Flavors & Fragrances Inc. | 54,534 | 4,484 | ||||
| Southern Copper Corp. | 18,592 | 4,059 | ||||
| * | Coeur Mining Inc. | 140,989 | 3,828 | |||
| CF Industries Holdings Inc. | 35,994 | 3,583 | ||||
| Hecla Mining Co. | 139,737 | 3,481 | ||||
| Avery Dennison Corp. | 16,948 | 3,328 | ||||
| Mosaic Co. | 71,349 | 1,986 | ||||
| Element Solutions Inc. | 51,052 | 1,791 | ||||
| * | MP Materials Corp. | 28,989 | 1,706 | |||
| * | Cleveland-Cliffs Inc. | 125,821 | 1,341 | |||
| Balchem Corp. | 7,161 | 1,299 | ||||
| UFP Industries Inc. | 12,548 | 1,291 | ||||
| Cabot Corp. | 12,516 | 953 | ||||
| Sensient Technologies Corp. | 9,157 | 930 | ||||
| Avient Corp. | 22,221 | 913 | ||||
| Westlake Corp. | 8,380 | 883 | ||||
| * | Constellium SE | 29,559 | 736 | |||
| Ashland Inc. | 11,088 | 691 | ||||
| Aura Minerals Inc. | 7,965 | 673 | ||||
| * | Century Aluminum Co. | 11,526 | 594 | |||
| Huntsman Corp. | 44,486 | 563 | ||||
| Scotts Miracle-Gro Co. | 7,368 | 517 | ||||
| Minerals Technologies Inc. | 7,305 | 516 | ||||
| Quaker Chemical Corp. | 3,343 | 491 | ||||
| Kaiser Aluminum Corp. | 3,440 | 448 | ||||
| Sylvamo Corp. | 6,797 | 315 | ||||
| Worthington Steel Inc. | 7,124 | 296 | ||||
| FMC Corp. | 13,207 | 195 | ||||
| 198,319 | ||||||
| Consumer Discretionary (15.6%) | ||||||
| * | Amazon.com Inc. | 2,130,549 | 447,415 | |||
| * | Tesla Inc. | 626,745 | 252,271 | |||
| Costco Wholesale Corp. | 98,593 | 99,657 | ||||
| * | Netflix Inc. | 940,650 | 90,528 | |||
| Home Depot Inc. | 221,279 | 84,245 | ||||
| McDonald's Corp. | 158,805 | 54,162 | ||||
| Walt Disney Co. | 400,983 | 42,520 | ||||
| TJX Cos. Inc. | 247,669 | 40,038 | ||||
| * | Uber Technologies Inc. | 446,746 | 33,694 | |||
| Lowe's Cos. Inc. | 124,561 | 32,955 | ||||
| Booking Holdings Inc. | 7,222 | 30,617 | ||||
| Starbucks Corp. | 253,110 | 24,810 | ||||
| * | MercadoLibre Inc. | 10,471 | 18,404 | |||
| * | Spotify Technology SA | 34,080 | 17,549 | |||
| * | O'Reilly Automotive Inc. | 186,691 | 17,527 | |||
| Royal Caribbean Cruises Ltd. | 56,320 | 17,513 | ||||
| Marriott International Inc. Class A | 49,800 | 17,018 | ||||
| NIKE Inc. Class B | 254,878 | 15,848 | ||||
| Hilton Worldwide Holdings Inc. | 50,620 | 15,782 | ||||
| * | Warner Bros Discovery Inc. | 516,902 | 14,561 | |||
1
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Ross Stores Inc. | 70,591 | 14,516 | ||||
| * | AutoZone Inc. | 3,705 | 13,914 | |||
| * | Airbnb Inc. Class A | 94,699 | 12,795 | |||
| Ford Motor Co. | 863,065 | 12,161 | ||||
| Target Corp. | 99,084 | 11,275 | ||||
| Electronic Arts Inc. | 55,633 | 11,158 | ||||
| * | Chipotle Mexican Grill Inc. | 291,072 | 10,834 | |||
| Yum! Brands Inc. | 62,058 | 10,436 | ||||
| * | Carvana Co. | 30,038 | 10,037 | |||
| DR Horton Inc. | 58,820 | 9,434 | ||||
| * | ROBLOX Corp. Class A | 137,155 | 9,417 | |||
| eBay Inc. | 100,425 | 9,125 | ||||
| Garmin Ltd. | 36,044 | 9,113 | ||||
| * | Take-Two Interactive Software Inc. | 40,590 | 8,584 | |||
| Carnival Corp. | 240,842 | 7,599 | ||||
| Dollar General Corp. | 48,520 | 7,581 | ||||
| * | Copart Inc. | 193,682 | 7,377 | |||
| Tapestry Inc. | 46,016 | 7,154 | ||||
| * | Ulta Beauty Inc. | 10,022 | 6,863 | |||
| Omnicom Group Inc. | 71,949 | 6,137 | ||||
| PulteGroup Inc. | 43,533 | 5,973 | ||||
| Estee Lauder Cos. Inc. Class A | 52,779 | 5,778 | ||||
| * | Live Nation Entertainment Inc. | 35,487 | 5,754 | |||
| Expedia Group Inc. | 26,067 | 5,622 | ||||
| * | Coupang Inc. | 288,874 | 5,512 | |||
| Williams-Sonoma Inc. | 26,449 | 5,439 | ||||
| Lennar Corp. Class A | 47,555 | 5,438 | ||||
| * | Dollar Tree Inc. | 42,854 | 5,420 | |||
| * | NVR Inc. | 601 | 4,518 | |||
| * | Burlington Stores Inc. | 14,005 | 4,298 | |||
| * | Lululemon Athletica Inc. | 22,860 | 4,233 | |||
| Somnigroup International Inc. | 44,843 | 4,014 | ||||
| * | Deckers Outdoor Corp. | 32,673 | 3,832 | |||
| * | Liberty Media Corp.-Liberty Formula One Class C | 41,384 | 3,790 | |||
| Rollins Inc. | 62,187 | 3,787 | ||||
| Genuine Parts Co. | 31,102 | 3,709 | ||||
| * | Aptiv plc | 46,877 | 3,447 | |||
| TKO Group Holdings Inc. Class A | 15,384 | 3,444 | ||||
| Toll Brothers Inc. | 21,652 | 3,405 | ||||
| Fox Corp. Class A | 59,404 | 3,347 | ||||
| Ralph Lauren Corp. | 8,467 | 3,070 | ||||
| * | Viking Holdings Ltd. | 38,553 | 3,008 | |||
| Hasbro Inc. | 29,942 | 2,982 | ||||
| * | BJ's Wholesale Club Holdings Inc. | 29,575 | 2,922 | |||
| Dick's Sporting Goods Inc. | 14,299 | 2,912 | ||||
| Domino's Pizza Inc. | 7,108 | 2,861 | ||||
| New York Times Co. Class A | 35,651 | 2,845 | ||||
| Best Buy Co. Inc. | 44,020 | 2,728 | ||||
| BorgWarner Inc. | 47,130 | 2,713 | ||||
| * | Rivian Automotive Inc. Class A | 172,966 | 2,652 | |||
| * | Five Below Inc. | 11,818 | 2,642 | |||
| News Corp. Class A | 106,287 | 2,582 | ||||
| Service Corp. International | 30,426 | 2,561 | ||||
| * | Norwegian Cruise Line Holdings Ltd. | 101,431 | 2,514 | |||
| * | Grab Holdings Ltd. Class A | 585,015 | 2,469 | |||
| Aramark | 57,795 | 2,419 | ||||
| * | On Holding AG Class A | 50,061 | 2,327 | |||
| * | Trade Desk Inc. Class A | 96,048 | 2,288 | |||
| * | SharkNinja Inc. | 18,474 | 2,270 | |||
| * | GameStop Corp. Class A | 89,459 | 2,150 | |||
| Autoliv Inc. | 17,111 | 2,028 | ||||
| * | United Airlines Holdings Inc. | 18,648 | 1,982 | |||
| LKQ Corp. | 59,024 | 1,954 | ||||
| * | Cava Group Inc. | 21,780 | 1,796 | |||
| Pool Corp. | 7,789 | 1,769 | ||||
| * | Floor & Decor Holdings Inc. Class A | 24,245 | 1,675 | |||
| * | Wayfair Inc. Class A | 21,357 | 1,630 | |||
| Nexstar Media Group Inc. Class A | 6,447 | 1,618 | ||||
| Wingstop Inc. | 6,224 | 1,615 | ||||
| * | Planet Fitness Inc. Class A | 18,986 | 1,560 | |||
2
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Lithia Motors Inc. Class A | 5,405 | 1,511 | ||||
| Hyatt Hotels Corp. Class A | 9,322 | 1,505 | ||||
| * | Ollie's Bargain Outlet Holdings Inc. | 13,890 | 1,488 | |||
| Gap Inc. | 51,428 | 1,442 | ||||
| Wyndham Hotels & Resorts Inc. | 17,613 | 1,441 | ||||
| * | Taylor Morrison Home Corp. Class A | 21,819 | 1,438 | |||
| Lear Corp. | 10,838 | 1,422 | ||||
| * | Dutch Bros Inc. Class A | 26,426 | 1,417 | |||
| * | SiteOne Landscape Supply Inc. | 9,560 | 1,366 | |||
| Southwest Airlines Co. | 27,622 | 1,361 | ||||
| * | CarMax Inc. | 31,391 | 1,355 | |||
| VF Corp. | 68,815 | 1,336 | ||||
| * | Chewy Inc. Class A | 47,655 | 1,307 | |||
| * | Boot Barn Holdings Inc. | 6,860 | 1,298 | |||
| Meritage Homes Corp. | 16,848 | 1,271 | ||||
| * | Amer Sports Inc. | 33,163 | 1,260 | |||
| * | Madison Square Garden Sports Corp. | 3,632 | 1,205 | |||
| Macy's Inc. | 60,617 | 1,199 | ||||
| * | Champion Homes Inc. | 12,601 | 1,178 | |||
| * | AutoNation Inc. | 5,927 | 1,157 | |||
| * | Lyft Inc. Class A | 83,322 | 1,153 | |||
| * | Etsy Inc. | 20,704 | 1,136 | |||
| * | Valvoline Inc. | 29,898 | 1,130 | |||
| * | Frontdoor Inc. | 16,397 | 1,124 | |||
| * | elf Beauty Inc. | 12,053 | 1,109 | |||
| Thor Industries Inc. | 11,381 | 1,094 | ||||
| Gentex Corp. | 46,607 | 1,091 | ||||
| * | Versant Media Group Inc. | 31,489 | 1,049 | |||
| * | Crocs Inc. | 11,551 | 1,048 | |||
| U-Haul Holding Co. | 22,172 | 1,046 | ||||
| Sirius XM Holdings Inc. | 46,316 | 1,017 | ||||
| * | Abercrombie & Fitch Co. Class A | 10,352 | 1,012 | |||
| Bath & Body Works Inc. | 44,270 | 1,008 | ||||
| * | Cavco Industries Inc. | 1,736 | 1,002 | |||
| * | Grand Canyon Education Inc. | 6,295 | 1,001 | |||
| Travel + Leisure Co. | 13,579 | 1,001 | ||||
| KB Home | 15,618 | 993 | ||||
| * | Bright Horizons Family Solutions Inc. | 13,139 | 979 | |||
| * | Victoria's Secret & Co. | 15,315 | 960 | |||
| Rush Enterprises Inc. Class A | 13,507 | 959 | ||||
| * | Liberty Media Corp.-Liberty Formula One Class A | 11,313 | 954 | |||
| Vail Resorts Inc. | 6,997 | 950 | ||||
| * | Asbury Automotive Group Inc. | 4,437 | 949 | |||
| * | Tri Pointe Homes Inc. | 20,328 | 941 | |||
| Fox Corp. Class B | 18,131 | 938 | ||||
| H&R Block Inc. | 29,952 | 917 | ||||
| 1 | Whirlpool Corp. | 13,389 | 916 | |||
| * | Life Time Group Holdings Inc. | 33,854 | 914 | |||
| Group 1 Automotive Inc. | 2,788 | 908 | ||||
| * | MakeMyTrip Ltd. | 16,054 | 907 | |||
| * | Urban Outfitters Inc. | 13,664 | 905 | |||
| * | Laureate Education Inc. | 27,653 | 894 | |||
| Dana Inc. | 26,076 | 893 | ||||
| PriceSmart Inc. | 5,664 | 876 | ||||
| American Eagle Outfitters Inc. | 35,416 | 870 | ||||
| Signet Jewelers Ltd. | 8,957 | 862 | ||||
| Kontoor Brands Inc. | 12,867 | 839 | ||||
| * | YETI Holdings Inc. | 18,999 | 830 | |||
| * | Duolingo Inc. Class A | 8,210 | 829 | |||
| * | M/I Homes Inc. | 5,691 | 809 | |||
| PVH Corp. | 11,417 | 783 | ||||
| * | Covista Inc. | 7,959 | 780 | |||
| * | Liberty Live Holdings Inc. Class A | 7,710 | 748 | |||
| * | Dorman Products Inc. | 6,233 | 735 | |||
| TEGNA Inc. | 35,072 | 735 | ||||
| * | Sphere Entertainment Co. | 6,179 | 735 | |||
| * | Stride Inc. | 8,672 | 732 | |||
| * | Liberty Live Holdings Inc. Class C | 7,293 | 727 | |||
| LCI Industries | 5,328 | 710 | ||||
| 1 | Choice Hotels International Inc. | 6,661 | 702 | |||
3
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Cinemark Holdings Inc. | 24,528 | 693 | ||||
| * | QuantumScape Corp. Class A | 98,681 | 683 | |||
| * | OPENLANE Inc. | 23,228 | 662 | |||
| Penske Automotive Group Inc. | 4,201 | 662 | ||||
| HNI Corp. | 14,615 | 657 | ||||
| Advance Auto Parts Inc. | 12,028 | 639 | ||||
| Acushnet Holdings Corp. | 6,237 | 638 | ||||
| * | Hilton Grand Vacations Inc. | 14,099 | 634 | |||
| Visteon Corp. | 6,594 | 631 | ||||
| Phinia Inc. | 8,569 | 622 | ||||
| * | RH | 3,591 | 595 | |||
| Steven Madden Ltd. | 16,265 | 587 | ||||
| * | Madison Square Garden Entertainment Corp. Class A | 8,680 | 548 | |||
| * | Birkenstock Holding plc | 13,078 | 545 | |||
| * | Goodyear Tire & Rubber Co. | 65,429 | 540 | |||
| * | American Airlines Group Inc. | 40,651 | 531 | |||
| * | Green Brick Partners Inc. | 6,871 | 506 | |||
| Strategic Education Inc. | 5,962 | 491 | ||||
| Harley-Davidson Inc. | 27,182 | 489 | ||||
| * | Capri Holdings Ltd. | 23,425 | 480 | |||
| Columbia Sportswear Co. | 7,541 | 467 | ||||
| Interparfums Inc. | 4,609 | 464 | ||||
| * | Under Armour Inc. Class C | 63,474 | 459 | |||
| Century Communities Inc. | 6,780 | 456 | ||||
| * | IMAX Corp. | 10,215 | 437 | |||
| * | Callaway Golf Co. | 30,602 | 430 | |||
| * | Adient plc | 16,852 | 410 | |||
| *,1 | Avis Budget Group Inc. | 3,914 | 381 | |||
| * | Alaska Air Group Inc. | 7,175 | 370 | |||
| Buckle Inc. | 6,720 | 360 | ||||
| * | Central Garden & Pet Co. Class A | 10,318 | 356 | |||
| * | Sonos Inc. | 22,615 | 348 | |||
| La-Z-Boy Inc. | 9,583 | 342 | ||||
| Newell Brands Inc. | 73,045 | 332 | ||||
| John Wiley & Sons Inc. Class A | 10,409 | 323 | ||||
| Marriott Vacations Worldwide Corp. | 4,877 | 317 | ||||
| News Corp. Class B | 11,128 | 298 | ||||
| * | Six Flags Entertainment Corp. | 17,498 | 298 | |||
| PROG Holdings Inc. | 7,849 | 276 | ||||
| * | Peloton Interactive Inc. Class A | 64,042 | 257 | |||
| * | United Parks & Resorts Inc. | 6,743 | 235 | |||
| MillerKnoll Inc. | 10,853 | 219 | ||||
| * | TripAdvisor Inc. | 21,503 | 217 | |||
| Leggett & Platt Inc. | 18,520 | 216 | ||||
| * | Under Armour Inc. Class A | 25,385 | 188 | |||
| Papa John's International Inc. | 5,644 | 177 | ||||
| * | LGI Homes Inc. | 3,323 | 172 | |||
| *,1 | Lucid Group Inc. Class A | 17,160 | 172 | |||
| * | JetBlue Airways Corp. | 30,680 | 170 | |||
| Upbound Group Inc. | 7,725 | 166 | ||||
| Wendy's Co. | 17,976 | 138 | ||||
| * | Coursera Inc. | 21,512 | 138 | |||
| * | Coty Inc. Class A | 50,861 | 128 | |||
| * | U-Haul Holding Co. (XNYS) | 2,036 | 103 | |||
| *,1 | Hertz Global Holdings Inc. | 22,589 | 103 | |||
| * | Driven Brands Holdings Inc. | 8,966 | 99 | |||
| * | AMC Entertainment Holdings Inc. Class A | 79,051 | 92 | |||
| Lennar Corp. Class B | 829 | 88 | ||||
| Cracker Barrel Old Country Store Inc. | 2,158 | 71 | ||||
| * | Mister Car Wash Inc. | 9,020 | 64 | |||
| * | Sabre Corp. | 26,744 | 32 | |||
| 1,819,285 | ||||||
| Consumer Staples (3.9%) | ||||||
| Procter & Gamble Co. | 520,413 | 87,013 | ||||
| Coca-Cola Co. | 863,649 | 70,439 | ||||
| PepsiCo Inc. | 304,688 | 51,718 | ||||
| McKesson Corp. | 27,829 | 27,477 | ||||
| CVS Health Corp. | 278,567 | 22,257 | ||||
| Colgate-Palmolive Co. | 179,935 | 17,839 | ||||
4
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Mondelez International Inc. Class A | 288,746 | 17,781 | ||||
| Cencora Inc. | 40,601 | 15,109 | ||||
| * | Monster Beverage Corp. | 154,566 | 13,184 | |||
| Corteva Inc. | 151,982 | 12,177 | ||||
| Sysco Corp. | 106,518 | 9,710 | ||||
| Kroger Co. | 135,826 | 9,269 | ||||
| Keurig Dr Pepper Inc. | 289,904 | 8,778 | ||||
| Kimberly-Clark Corp. | 74,777 | 8,333 | ||||
| Kenvue Inc. | 425,244 | 8,131 | ||||
| Hershey Co. | 32,443 | 7,666 | ||||
| Archer-Daniels-Midland Co. | 105,427 | 7,279 | ||||
| Church & Dwight Co. Inc. | 54,056 | 5,668 | ||||
| General Mills Inc. | 122,279 | 5,531 | ||||
| Kraft Heinz Co. | 196,682 | 4,840 | ||||
| * | US Foods Holding Corp. | 49,931 | 4,824 | |||
| McCormick & Co. Inc. (Non-Voting) | 56,898 | 4,042 | ||||
| Tyson Foods Inc. Class A | 61,549 | 4,000 | ||||
| Clorox Co. | 25,548 | 3,249 | ||||
| J M Smucker Co. | 23,664 | 2,744 | ||||
| Coca-Cola Consolidated Inc. | 12,676 | 2,566 | ||||
| Conagra Brands Inc. | 116,224 | 2,237 | ||||
| * | Celsius Holdings Inc. | 36,365 | 1,949 | |||
| * | Darling Ingredients Inc. | 33,970 | 1,806 | |||
| Ingredion Inc. | 13,473 | 1,583 | ||||
| * | Sprouts Farmers Market Inc. | 21,251 | 1,570 | |||
| Hormel Foods Corp. | 58,230 | 1,491 | ||||
| Albertsons Cos. Inc. Class A | 82,683 | 1,480 | ||||
| Lamb Weston Holdings Inc. | 29,268 | 1,410 | ||||
| Primo Brands Corp. Class A | 55,384 | 1,256 | ||||
| * | Post Holdings Inc. | 11,141 | 1,184 | |||
| Campbell's Co. | 39,018 | 1,052 | ||||
| Cal-Maine Foods Inc. | 10,193 | 888 | ||||
| * | Freshpet Inc. | 10,281 | 868 | |||
| WD-40 Co. | 3,156 | 752 | ||||
| Marzetti Co. | 4,189 | 688 | ||||
| Flowers Foods Inc. | 55,944 | 553 | ||||
| * | BellRing Brands Inc. | 27,291 | 502 | |||
| Spectrum Brands Holdings Inc. | 5,920 | 464 | ||||
| Energizer Holdings Inc. | 14,869 | 321 | ||||
| Edgewell Personal Care Co. | 13,718 | 312 | ||||
| * | Simply Good Foods Co. | 18,003 | 307 | |||
| Reynolds Consumer Products Inc. | 9,682 | 240 | ||||
| J & J Snack Foods Corp. | 2,671 | 233 | ||||
| Weis Markets Inc. | 3,314 | 225 | ||||
| Nomad Foods Ltd. | 18,695 | 205 | ||||
| * | Grocery Outlet Holding Corp. | 14,713 | 145 | |||
| * | National Beverage Corp. | 3,175 | 115 | |||
| 455,460 | ||||||
| Energy (0.1%) | ||||||
| * | First Solar Inc. | 22,582 | 4,453 | |||
| * | Nextpower Inc. Class A | 32,082 | 3,372 | |||
| * | Enphase Energy Inc. | 25,811 | 1,091 | |||
| * | Plug Power Inc. | 213,012 | 381 | |||
| 9,297 | ||||||
| Financials (10.1%) | ||||||
| JPMorgan Chase & Co. | 566,074 | 169,992 | ||||
| Bank of America Corp. | 1,407,165 | 70,119 | ||||
| Goldman Sachs Group Inc. | 62,120 | 53,396 | ||||
| Morgan Stanley | 255,655 | 42,569 | ||||
| Citigroup Inc. | 371,550 | 40,941 | ||||
| Charles Schwab Corp. | 379,000 | 36,081 | ||||
| S&P Global Inc. | 67,292 | 29,735 | ||||
| Progressive Corp. | 129,540 | 27,678 | ||||
| Chubb Ltd. | 80,798 | 27,541 | ||||
| CME Group Inc. | 79,875 | 25,520 | ||||
| Intercontinental Exchange Inc. | 126,493 | 20,761 | ||||
| Marsh & McLennan Cos. Inc. | 108,744 | 20,307 | ||||
| US Bancorp | 346,055 | 18,915 | ||||
| PNC Financial Services Group Inc. | 87,749 | 18,633 | ||||
5
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Blackstone Inc. | 164,318 | 18,629 | ||||
| Bank of New York Mellon Corp. | 154,650 | 18,419 | ||||
| Moody's Corp. | 34,493 | 16,474 | ||||
| Aon plc Class A | 46,401 | 15,566 | ||||
| Travelers Cos. Inc. | 49,291 | 15,213 | ||||
| Truist Financial Corp. | 284,010 | 14,005 | ||||
| Arthur J Gallagher & Co. | 55,865 | 12,748 | ||||
| Allstate Corp. | 58,757 | 12,605 | ||||
| * | Robinhood Markets Inc. Class A | 164,483 | 12,476 | |||
| Aflac Inc. | 106,800 | 12,061 | ||||
| * | NU Holdings Ltd. Class A | 742,881 | 11,128 | |||
| American International Group Inc. | 123,908 | 9,973 | ||||
| Fifth Third Bancorp | 201,303 | 9,958 | ||||
| Ameriprise Financial Inc. | 20,747 | 9,754 | ||||
| Apollo Global Management Inc. | 91,973 | 9,620 | ||||
| MSCI Inc. | 16,188 | 9,257 | ||||
| MetLife Inc. | 124,658 | 8,984 | ||||
| Nasdaq Inc. | 100,932 | 8,840 | ||||
| * | Coinbase Global Inc. Class A | 49,292 | 8,668 | |||
| Hartford Insurance Group Inc. | 61,346 | 8,639 | ||||
| State Street Corp. | 62,153 | 7,994 | ||||
| * | Arch Capital Group Ltd. | 78,719 | 7,884 | |||
| Prudential Financial Inc. | 78,389 | 7,712 | ||||
| Huntington Bancshares Inc. | 445,461 | 7,484 | ||||
| M&T Bank Corp. | 34,129 | 7,405 | ||||
| Cboe Global Markets Inc. | 23,237 | 6,965 | ||||
| Interactive Brokers Group Inc. Class A | 95,465 | 6,796 | ||||
| Willis Towers Watson plc | 21,150 | 6,454 | ||||
| Raymond James Financial Inc. | 39,811 | 6,094 | ||||
| Northern Trust Corp. | 41,718 | 5,969 | ||||
| Citizens Financial Group Inc. | 95,462 | 5,746 | ||||
| * | Markel Group Inc. | 2,728 | 5,654 | |||
| Regions Financial Corp. | 199,217 | 5,544 | ||||
| Cincinnati Financial Corp. | 33,627 | 5,514 | ||||
| LPL Financial Holdings Inc. | 17,758 | 5,334 | ||||
| Credicorp Ltd. | 15,278 | 5,292 | ||||
| Broadridge Financial Solutions Inc. | 26,374 | 4,902 | ||||
| * | SoFi Technologies Inc. | 270,284 | 4,800 | |||
| Ares Management Corp. Class A | 42,167 | 4,723 | ||||
| Principal Financial Group Inc. | 48,676 | 4,645 | ||||
| W R Berkley Corp. | 64,016 | 4,590 | ||||
| Brown & Brown Inc. | 62,092 | 4,459 | ||||
| KeyCorp | 212,492 | 4,407 | ||||
| T. Rowe Price Group Inc. | 45,197 | 4,277 | ||||
| First Citizens BancShares Inc. Class A | 1,998 | 3,793 | ||||
| East West Bancorp Inc. | 30,203 | 3,306 | ||||
| Annaly Capital Management Inc. | 141,776 | 3,295 | ||||
| Reinsurance Group of America Inc. | 14,838 | 3,201 | ||||
| Everest Group Ltd. | 9,410 | 3,157 | ||||
| Tradeweb Markets Inc. Class A | 25,322 | 3,121 | ||||
| Pinnacle Financial Partners Inc. | 33,890 | 3,076 | ||||
| Fidelity National Financial Inc. | 57,994 | 3,067 | ||||
| RenaissanceRe Holdings Ltd. | 10,032 | 3,034 | ||||
| Equitable Holdings Inc. | 68,697 | 2,763 | ||||
| Unum Group | 38,049 | 2,729 | ||||
| First Horizon Corp. | 112,393 | 2,674 | ||||
| Webster Financial Corp. | 36,693 | 2,647 | ||||
| Assurant Inc. | 11,206 | 2,573 | ||||
| AGNC Investment Corp. | 228,662 | 2,563 | ||||
| Globe Life Inc. | 17,585 | 2,554 | ||||
| Evercore Inc. Class A | 8,223 | 2,540 | ||||
| Stifel Financial Corp. | 33,311 | 2,467 | ||||
| Ally Financial Inc. | 62,338 | 2,459 | ||||
| Old Republic International Corp. | 49,971 | 2,142 | ||||
| Invesco Ltd. | 81,552 | 2,142 | ||||
| Wintrust Financial Corp. | 14,619 | 2,106 | ||||
| SouthState Bank Corp. | 21,027 | 2,075 | ||||
| American Financial Group Inc. | 14,902 | 1,982 | ||||
| Popular Inc. | 14,579 | 1,973 | ||||
| Kinsale Capital Group Inc. | 4,990 | 1,944 | ||||
6
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Houlihan Lokey Inc. Class A | 11,863 | 1,943 | ||||
| Western Alliance Bancorp | 23,533 | 1,890 | ||||
| Zions Bancorp NA | 32,779 | 1,878 | ||||
| Affiliated Managers Group Inc. | 6,120 | 1,874 | ||||
| UMB Financial Corp. | 15,999 | 1,854 | ||||
| XP Inc. Class A | 85,899 | 1,849 | ||||
| Franklin Resources Inc. | 69,395 | 1,842 | ||||
| SEI Investments Co. | 22,455 | 1,826 | ||||
| Old National Bancorp | 78,174 | 1,806 | ||||
| Cullen/Frost Bankers Inc. | 13,042 | 1,803 | ||||
| Primerica Inc. | 7,096 | 1,800 | ||||
| FactSet Research Systems Inc. | 8,122 | 1,761 | ||||
| Axis Capital Holdings Ltd. | 16,263 | 1,719 | ||||
| Columbia Banking System Inc. | 60,243 | 1,714 | ||||
| Jackson Financial Inc. Class A | 15,502 | 1,697 | ||||
| Corebridge Financial Inc. | 61,470 | 1,588 | ||||
| First American Financial Corp. | 22,403 | 1,571 | ||||
| 1 | Blue Owl Capital Inc. Class A | 147,092 | 1,552 | |||
| Starwood Property Trust Inc. | 86,903 | 1,548 | ||||
| OneMain Holdings Inc. | 27,303 | 1,502 | ||||
| Voya Financial Inc. | 22,234 | 1,487 | ||||
| Hanover Insurance Group Inc. | 8,167 | 1,475 | ||||
| Prosperity Bancshares Inc. | 20,922 | 1,472 | ||||
| * | Clearwater Analytics Holdings Inc. Class A | 62,519 | 1,462 | |||
| FNB Corp. | 84,948 | 1,443 | ||||
| Janus Henderson Group plc | 27,640 | 1,440 | ||||
| Commerce Bancshares Inc. | 27,213 | 1,388 | ||||
| * | StoneX Group Inc. | 10,813 | 1,379 | |||
| MGIC Investment Corp. | 50,516 | 1,340 | ||||
| Glacier Bancorp Inc. | 29,138 | 1,325 | ||||
| Lincoln National Corp. | 38,580 | 1,323 | ||||
| Essent Group Ltd. | 21,556 | 1,311 | ||||
| TPG Inc. Class A | 30,201 | 1,311 | ||||
| Valley National Bancorp | 103,800 | 1,309 | ||||
| Rithm Capital Corp. | 130,085 | 1,307 | ||||
| MarketAxess Holdings Inc. | 6,728 | 1,292 | ||||
| United Bankshares Inc. | 31,007 | 1,281 | ||||
| * | Riot Platforms Inc. | 77,566 | 1,264 | |||
| RLI Corp. | 19,811 | 1,235 | ||||
| Hancock Whitney Corp. | 18,584 | 1,223 | ||||
| White Mountains Insurance Group Ltd. | 545 | 1,210 | ||||
| Bank OZK | 25,013 | 1,165 | ||||
| Home BancShares Inc. | 42,244 | 1,160 | ||||
| Selective Insurance Group Inc. | 13,770 | 1,157 | ||||
| Piper Sandler Cos. | 3,890 | 1,150 | ||||
| Ameris Bancorp | 14,264 | 1,108 | ||||
| Atlantic Union Bankshares Corp. | 29,558 | 1,095 | ||||
| Lazard Inc. | 21,515 | 1,089 | ||||
| Radian Group Inc. | 31,301 | 1,081 | ||||
| Associated Banc-Corp | 40,310 | 1,065 | ||||
| Moelis & Co. Class A | 17,134 | 1,017 | ||||
| Hamilton Lane Inc. Class A | 9,174 | 963 | ||||
| Eastern Bankshares Inc. | 48,985 | 958 | ||||
| * | Texas Capital Bancshares Inc. | 9,921 | 945 | |||
| Fulton Financial Corp. | 45,899 | 939 | ||||
| ServisFirst Bancshares Inc. | 11,543 | 935 | ||||
| CNO Financial Group Inc. | 22,241 | 930 | ||||
| Assured Guaranty Ltd. | 10,703 | 923 | ||||
| * | Circle Internet Group Inc. Class A | 10,724 | 895 | |||
| United Community Banks Inc. | 27,616 | 888 | ||||
| Ryan Specialty Holdings Inc. Class A | 22,192 | 873 | ||||
| SLM Corp. | 45,879 | 860 | ||||
| Independent Bank Corp. | 10,656 | 832 | ||||
| Renasant Corp. | 21,149 | 796 | ||||
| WesBanco Inc. | 22,781 | 794 | ||||
| * | Genworth Financial Inc. Class A | 93,519 | 789 | |||
| BankUnited Inc. | 16,744 | 782 | ||||
| First Hawaiian Inc. | 31,389 | 777 | ||||
| WSFS Financial Corp. | 12,219 | 776 | ||||
| International Bancshares Corp. | 11,367 | 763 | ||||
7
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | MARA Holdings Inc. | 85,190 | 762 | |||
| Virtu Financial Inc. Class A | 18,339 | 759 | ||||
| * | Brighthouse Financial Inc. | 12,634 | 758 | |||
| PJT Partners Inc. Class A | 5,124 | 757 | ||||
| First Interstate BancSystem Inc. Class A | 21,801 | 755 | ||||
| First Bancorp | 35,266 | 745 | ||||
| Simmons First National Corp. Class A | 37,331 | 743 | ||||
| First Financial Bankshares Inc. | 23,842 | 737 | ||||
| * | Palomar Holdings Inc. | 5,937 | 734 | |||
| Bread Financial Holdings Inc. | 10,350 | 733 | ||||
| BGC Group Inc. Class A | 76,928 | 732 | ||||
| Cathay General Bancorp | 14,277 | 710 | ||||
| * | NMI Holdings Inc. Class A | 17,967 | 706 | |||
| * | Lemonade Inc. | 13,355 | 691 | |||
| First Financial Bancorp | 24,595 | 690 | ||||
| Bank of Hawaii Corp. | 9,096 | 689 | ||||
| StepStone Group Inc. Class A | 15,850 | 684 | ||||
| Victory Capital Holdings Inc. Class A | 9,817 | 679 | ||||
| Community Financial System Inc. | 10,795 | 654 | ||||
| Flagstar Bank NA | 50,411 | 640 | ||||
| CVB Financial Corp. | 33,028 | 635 | ||||
| BOK Financial Corp. | 4,895 | 615 | ||||
| * | Oscar Health Inc. Class A | 44,333 | 605 | |||
| Artisan Partners Asset Management Inc. Class A | 14,913 | 601 | ||||
| PennyMac Financial Services Inc. | 6,517 | 599 | ||||
| Seacoast Banking Corp. of Florida | 19,142 | 596 | ||||
| Beacon Financial Corp. | 19,273 | 573 | ||||
| Blackstone Mortgage Trust Inc. Class A | 29,764 | 572 | ||||
| WaFd Inc. | 18,193 | 567 | ||||
| Provident Financial Services Inc. | 26,652 | 561 | ||||
| ARMOUR Residential REIT Inc. | 30,868 | 554 | ||||
| First Merchants Corp. | 14,126 | 552 | ||||
| Towne Bank | 15,391 | 527 | ||||
| Trustmark Corp. | 12,214 | 520 | ||||
| Park National Corp. | 3,095 | 509 | ||||
| * | Credit Acceptance Corp. | 1,057 | 500 | |||
| Banner Corp. | 8,319 | 490 | ||||
| NBT Bancorp Inc. | 11,402 | 487 | ||||
| Northwest Bancshares Inc. | 38,982 | 485 | ||||
| BancFirst Corp. | 4,298 | 473 | ||||
| Cohen & Steers Inc. | 7,022 | 470 | ||||
| WisdomTree Inc. | 27,352 | 468 | ||||
| * | SiriusPoint Ltd. | 22,023 | 466 | |||
| *,1 | Freedom Holding Corp. | 3,814 | 458 | |||
| Bank of NT Butterfield & Son Ltd. | 8,962 | 455 | ||||
| * | Upstart Holdings Inc. | 16,563 | 451 | |||
| Arbor Realty Trust Inc. | 53,691 | 426 | ||||
| Horace Mann Educators Corp. | 9,501 | 413 | ||||
| Kemper Corp. | 12,682 | 410 | ||||
| First Commonwealth Financial Corp. | 22,450 | 394 | ||||
| Walker & Dunlop Inc. | 8,251 | 380 | ||||
| Hope Bancorp Inc. | 33,241 | 374 | ||||
| Stock Yards Bancorp Inc. | 5,436 | 349 | ||||
| City Holding Co. | 2,894 | 347 | ||||
| Hilltop Holdings Inc. | 9,241 | 346 | ||||
| S&T Bancorp Inc. | 7,892 | 330 | ||||
| Ladder Capital Corp. | 30,777 | 319 | ||||
| Safety Insurance Group Inc. | 3,954 | 307 | ||||
| Nelnet Inc. Class A | 2,304 | 298 | ||||
| 1st Source Corp. | 3,934 | 264 | ||||
| * | Triumph Financial Inc. | 4,727 | 264 | |||
| Enact Holdings Inc. | 6,222 | 260 | ||||
| Employers Holdings Inc. | 6,179 | 255 | ||||
| Virtus Investment Partners Inc. | 1,814 | 251 | ||||
| F&G Annuities & Life Inc. | 9,964 | 226 | ||||
| Westamerica Bancorp | 4,227 | 214 | ||||
| Live Oak Bancshares Inc. | 5,339 | 194 | ||||
| Navient Corp. | 21,957 | 193 | ||||
| CNA Financial Corp. | 3,699 | 178 | ||||
| * | Trupanion Inc. | 5,929 | 157 | |||
8
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| TFS Financial Corp. | 8,872 | 124 | ||||
| Republic Bancorp Inc. Class A | 1,648 | 114 | ||||
| * | Columbia Financial Inc. | 4,092 | 73 | |||
| 1,181,638 | ||||||
| Health Care (10.7%) | ||||||
| Eli Lilly & Co. | 177,928 | 187,178 | ||||
| AbbVie Inc. | 393,537 | 91,332 | ||||
| Merck & Co. Inc. | 560,001 | 69,339 | ||||
| UnitedHealth Group Inc. | 202,229 | 59,308 | ||||
| Amgen Inc. | 119,533 | 46,398 | ||||
| Abbott Laboratories | 385,020 | 44,797 | ||||
| Thermo Fisher Scientific Inc. | 83,966 | 43,756 | ||||
| Gilead Sciences Inc. | 276,651 | 41,207 | ||||
| * | Intuitive Surgical Inc. | 78,460 | 39,505 | |||
| Pfizer Inc. | 1,253,003 | 34,646 | ||||
| Stryker Corp. | 76,785 | 29,751 | ||||
| Danaher Corp. | 140,131 | 29,517 | ||||
| * | Vertex Pharmaceuticals Inc. | 57,162 | 28,400 | |||
| Bristol-Myers Squibb Co. | 453,784 | 28,303 | ||||
| Medtronic plc | 285,417 | 27,874 | ||||
| * | Boston Scientific Corp. | 328,537 | 25,248 | |||
| HCA Healthcare Inc. | 35,957 | 19,046 | ||||
| Regeneron Pharmaceuticals Inc. | 22,565 | 17,638 | ||||
| Cigna Group | 58,622 | 16,990 | ||||
| Elevance Health Inc. | 48,702 | 15,585 | ||||
| Zoetis Inc. | 99,460 | 13,039 | ||||
| Cardinal Health Inc. | 52,877 | 12,121 | ||||
| * | IDEXX Laboratories Inc. | 17,689 | 11,617 | |||
| Becton Dickinson & Co. | 63,909 | 11,279 | ||||
| * | Edwards Lifesciences Corp. | 126,871 | 10,971 | |||
| * | Alnylam Pharmaceuticals Inc. | 28,073 | 9,346 | |||
| GE HealthCare Technologies Inc. | 102,617 | 8,648 | ||||
| ResMed Inc. | 32,550 | 8,341 | ||||
| Agilent Technologies Inc. | 64,143 | 7,786 | ||||
| * | Waters Corp. | 21,992 | 7,024 | |||
| * | Insmed Inc. | 46,371 | 6,925 | |||
| * | IQVIA Holdings Inc. | 37,629 | 6,728 | |||
| * | Dexcom Inc. | 87,237 | 6,406 | |||
| * | Biogen Inc. | 31,881 | 6,115 | |||
| * | Veeva Systems Inc. Class A | 32,975 | 6,002 | |||
| * | Natera Inc. | 28,849 | 6,002 | |||
| STERIS plc | 21,857 | 5,516 | ||||
| Labcorp Holdings Inc. | 18,647 | 5,391 | ||||
| Quest Diagnostics Inc. | 24,869 | 5,270 | ||||
| Humana Inc. | 26,660 | 5,080 | ||||
| * | Centene Corp. | 109,632 | 4,920 | |||
| * | United Therapeutics Corp. | 9,380 | 4,727 | |||
| * | Tenet Healthcare Corp. | 19,307 | 4,622 | |||
| * | Illumina Inc. | 33,527 | 4,508 | |||
| Zimmer Biomet Holdings Inc. | 44,932 | 4,423 | ||||
| * | Exact Sciences Corp. | 41,235 | 4,263 | |||
| * | Moderna Inc. | 77,640 | 4,159 | |||
| Royalty Pharma plc Class A | 86,700 | 4,006 | ||||
| West Pharmaceutical Services Inc. | 15,740 | 4,003 | ||||
| * | Revolution Medicines Inc. | 38,451 | 3,923 | |||
| Viatris Inc. | 260,888 | 3,895 | ||||
| * | Insulet Corp. | 15,742 | 3,882 | |||
| * | Cooper Cos. Inc. | 45,019 | 3,767 | |||
| * | Hologic Inc. | 49,084 | 3,699 | |||
| * | Incyte Corp. | 35,583 | 3,603 | |||
| * | Penumbra Inc. | 8,363 | 2,880 | |||
| * | Neurocrine Biosciences Inc. | 21,648 | 2,863 | |||
| * | Elanco Animal Health Inc. | 108,187 | 2,856 | |||
| * | Ionis Pharmaceuticals Inc. | 34,909 | 2,833 | |||
| Revvity Inc. | 26,643 | 2,619 | ||||
| Ensign Group Inc. | 12,156 | 2,603 | ||||
| * | Exelixis Inc. | 58,723 | 2,587 | |||
| * | BioMarin Pharmaceutical Inc. | 41,514 | 2,563 | |||
| * | Align Technology Inc. | 13,434 | 2,554 | |||
9
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Guardant Health Inc. | 26,685 | 2,506 | |||
| Universal Health Services Inc. Class B | 12,085 | 2,491 | ||||
| * | Roivant Sciences Ltd. | 85,951 | 2,487 | |||
| * | Jazz Pharmaceuticals plc | 13,031 | 2,476 | |||
| * | Solventum Corp. | 33,149 | 2,460 | |||
| * | Globus Medical Inc. Class A | 25,235 | 2,409 | |||
| Encompass Health Corp. | 21,527 | 2,322 | ||||
| * | Bridgebio Pharma Inc. | 34,829 | 2,315 | |||
| * | Medpace Holdings Inc. | 4,929 | 2,227 | |||
| Bio-Techne Corp. | 35,492 | 2,094 | ||||
| Baxter International Inc. | 102,414 | 2,086 | ||||
| * | Henry Schein Inc. | 23,627 | 1,947 | |||
| * | Charles River Laboratories International Inc. | 10,546 | 1,882 | |||
| * | ICON plc | 17,054 | 1,844 | |||
| * | Arrowhead Pharmaceuticals Inc. | 29,127 | 1,843 | |||
| * | Masimo Corp. | 10,415 | 1,826 | |||
| *,2 | Avidity Biosciences Inc. | 25,212 | 1,815 | |||
| * | Halozyme Therapeutics Inc. | 25,718 | 1,788 | |||
| * | Madrigal Pharmaceuticals Inc. | 4,111 | 1,776 | |||
| * | Molina Healthcare Inc. | 11,465 | 1,766 | |||
| * | Vaxcyte Inc. | 26,518 | 1,637 | |||
| * | Cytokinetics Inc. | 26,062 | 1,622 | |||
| * | Repligen Corp. | 11,979 | 1,542 | |||
| * | Krystal Biotech Inc. | 5,465 | 1,506 | |||
| * | Glaukos Corp. | 12,475 | 1,502 | |||
| * | Axsome Therapeutics Inc. | 9,043 | 1,482 | |||
| * | HealthEquity Inc. | 19,111 | 1,462 | |||
| * | DaVita Inc. | 8,423 | 1,317 | |||
| * | Avantor Inc. | 137,293 | 1,243 | |||
| Chemed Corp. | 3,014 | 1,236 | ||||
| * | CRISPR Therapeutics AG | 19,731 | 1,187 | |||
| * | PTC Therapeutics Inc. | 17,112 | 1,167 | |||
| * | Option Care Health Inc. | 35,774 | 1,161 | |||
| * | Tempus AI Inc. Class A | 21,802 | 1,161 | |||
| * | Nuvalent Inc. Class A | 11,244 | 1,146 | |||
| * | Lantheus Holdings Inc. | 15,044 | 1,127 | |||
| * | Kymera Therapeutics Inc. | 12,297 | 1,123 | |||
| * | Alkermes plc | 36,103 | 1,087 | |||
| * | TransMedics Group Inc. | 7,419 | 1,078 | |||
| * | RadNet Inc. | 15,265 | 1,066 | |||
| * | Merit Medical Systems Inc. | 13,574 | 1,048 | |||
| Teleflex Inc. | 8,488 | 1,036 | ||||
| * | Bio-Rad Laboratories Inc. Class A | 3,678 | 1,024 | |||
| * | Envista Holdings Corp. | 32,958 | 963 | |||
| * | TG Therapeutics Inc. | 31,917 | 960 | |||
| Bruker Corp. | 23,784 | 954 | ||||
| * | IRhythm Holdings Inc. | 7,131 | 954 | |||
| * | Amicus Therapeutics Inc. | 65,435 | 940 | |||
| * | Crinetics Pharmaceuticals Inc. | 21,717 | 893 | |||
| * | Arcellx Inc. | 7,840 | 892 | |||
| * | LivaNova plc | 12,372 | 873 | |||
| * | Indivior Pharmaceuticals Inc. | 26,210 | 858 | |||
| * | Ligand Pharmaceuticals Inc. | 4,286 | 850 | |||
| * | ICU Medical Inc. | 5,571 | 839 | |||
| * | ADMA Biologics Inc. | 52,455 | 817 | |||
| * | Scholar Rock Holding Corp. | 18,382 | 814 | |||
| * | Viking Therapeutics Inc. | 23,800 | 805 | |||
| * | Prestige Consumer Healthcare Inc. | 11,378 | 789 | |||
| * | Xenon Pharmaceuticals Inc. | 18,075 | 781 | |||
| * | Corcept Therapeutics Inc. | 21,242 | 758 | |||
| * | Alignment Healthcare Inc. | 37,452 | 720 | |||
| * | Sotera Health Co. | 43,572 | 708 | |||
| * | Integer Holdings Corp. | 8,160 | 707 | |||
| * | Doximity Inc. Class A | 28,442 | 698 | |||
| * | Haemonetics Corp. | 10,865 | 688 | |||
| * | Waystar Holding Corp. | 26,277 | 674 | |||
| * | ACADIA Pharmaceuticals Inc. | 27,128 | 666 | |||
| * | Hims & Hers Health Inc. | 45,615 | 662 | |||
| * | Supernus Pharmaceuticals Inc. | 12,027 | 658 | |||
| * | Privia Health Group Inc. | 27,427 | 651 | |||
10
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Veracyte Inc. | 17,610 | 644 | |||
| * | Denali Therapeutics Inc. | 30,366 | 643 | |||
| * | Beam Therapeutics Inc. | 21,595 | 615 | |||
| * | Twist Bioscience Corp. | 12,368 | 580 | |||
| * | 10X Genomics Inc. Class A | 21,345 | 492 | |||
| * | BioCryst Pharmaceuticals Inc. | 55,750 | 488 | |||
| * | Apellis Pharmaceuticals Inc. | 22,470 | 471 | |||
| * | Summit Therapeutics Inc. | 26,798 | 445 | |||
| * | Immunovant Inc. | 15,972 | 443 | |||
| * | Ultragenyx Pharmaceutical Inc. | 18,605 | 435 | |||
| * | Agios Pharmaceuticals Inc. | 13,279 | 401 | |||
| * | Inspire Medical Systems Inc. | 6,192 | 399 | |||
| * | Enovis Corp. | 15,460 | 394 | |||
| Select Medical Holdings Corp. | 25,496 | 382 | ||||
| Organon & Co. | 49,902 | 364 | ||||
| DENTSPLY SIRONA Inc. | 24,296 | 357 | ||||
| * | PACS Group Inc. | 9,569 | 349 | |||
| *,1 | Recursion Pharmaceuticals Inc. Class A | 91,997 | 338 | |||
| * | Omnicell Inc. | 7,996 | 329 | |||
| Perrigo Co. plc | 24,884 | 329 | ||||
| * | Innoviva Inc. | 14,341 | 329 | |||
| * | AtriCure Inc. | 10,122 | 316 | |||
| * | Progyny Inc. | 17,082 | 302 | |||
| * | Sarepta Therapeutics Inc. | 17,873 | 300 | |||
| * | PROCEPT BioRobotics Corp. | 13,099 | 297 | |||
| * | Harmony Biosciences Holdings Inc. | 9,969 | 285 | |||
| * | QuidelOrtho Corp. | 12,442 | 283 | |||
| * | Tandem Diabetes Care Inc. | 11,150 | 282 | |||
| * | CorVel Corp. | 5,418 | 279 | |||
| * | LifeStance Health Group Inc. | 38,455 | 278 | |||
| * | Azenta Inc. | 9,846 | 266 | |||
| * | Biohaven Ltd. | 19,511 | 225 | |||
| * | Novocure Ltd. | 14,797 | 202 | |||
| * | Surgery Partners Inc. | 11,987 | 186 | |||
| * | Phreesia Inc. | 14,954 | 184 | |||
| * | AdaptHealth Corp. Class A | 18,657 | 171 | |||
| CONMED Corp. | 3,630 | 167 | ||||
| * | Certara Inc. | 21,596 | 153 | |||
| * | Teladoc Health Inc. | 28,895 | 152 | |||
| * | MoonLake Immunotherapeutics Class A | 7,213 | 126 | |||
| * | Atrium Therapeutics Inc. | 2,521 | 37 | |||
| * | Evolent Health Inc. Class A | 6,085 | 20 | |||
| 1,248,813 | ||||||
| Industrials (8.4%) | ||||||
| Visa Inc. Class A | 374,150 | 119,780 | ||||
| Mastercard Inc. Class A | 178,879 | 92,518 | ||||
| American Express Co. | 119,747 | 36,990 | ||||
| Deere & Co. | 54,294 | 34,189 | ||||
| Accenture plc Class A | 139,375 | 29,090 | ||||
| Capital One Financial Corp. | 139,852 | 27,361 | ||||
| Trane Technologies plc | 49,377 | 22,828 | ||||
| Johnson Controls International plc | 146,491 | 21,139 | ||||
| Automatic Data Processing Inc. | 91,401 | 19,593 | ||||
| Illinois Tool Works Inc. | 64,477 | 18,739 | ||||
| United Parcel Service Inc. Class B | 160,677 | 18,632 | ||||
| FedEx Corp. | 47,853 | 18,519 | ||||
| CRH plc | 150,590 | 18,068 | ||||
| Cintas Corp. | 75,765 | 15,239 | ||||
| PACCAR Inc. | 114,634 | 14,454 | ||||
| United Rentals Inc. | 14,088 | 11,834 | ||||
| * | Keysight Technologies Inc. | 38,265 | 11,760 | |||
| Carrier Global Corp. | 175,349 | 11,293 | ||||
| Ferguson Enterprises Inc. | 42,409 | 11,059 | ||||
| Comfort Systems USA Inc. | 7,709 | 11,019 | ||||
| Vulcan Materials Co. | 29,135 | 9,032 | ||||
| * | Axon Enterprise Inc. | 16,605 | 9,007 | |||
| PayPal Holdings Inc. | 188,782 | 8,724 | ||||
| Old Dominion Freight Line Inc. | 41,778 | 8,483 | ||||
| Ingersoll Rand Inc. | 88,909 | 8,370 | ||||
11
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Otis Worldwide Corp. | 86,444 | 8,001 | ||||
| * | Bloom Energy Corp. Class A | 48,055 | 7,481 | |||
| * | Fiserv Inc. | 119,940 | 7,471 | |||
| * | Block Inc. Class A | 116,347 | 7,411 | |||
| * | Fair Isaac Corp. | 5,218 | 7,354 | |||
| Dover Corp. | 30,272 | 6,826 | ||||
| Paychex Inc. | 69,958 | 6,552 | ||||
| * | Rocket Lab Corp. | 91,932 | 6,353 | |||
| Verisk Analytics Inc. | 30,601 | 6,352 | ||||
| * | Mettler-Toledo International Inc. | 4,611 | 6,302 | |||
| Fidelity National Information Services Inc. | 112,738 | 5,745 | ||||
| Equifax Inc. | 27,457 | 5,737 | ||||
| Smurfit Westrock plc | 117,206 | 5,510 | ||||
| Synchrony Financial | 79,185 | 5,472 | ||||
| * | XPO Inc. | 25,610 | 5,390 | |||
| AerCap Holdings NV | 35,522 | 5,308 | ||||
| Veralto Corp. | 52,570 | 5,122 | ||||
| * | Corpay Inc. | 15,308 | 4,977 | |||
| CH Robinson Worldwide Inc. | 26,065 | 4,829 | ||||
| DuPont de Nemours Inc. | 93,676 | 4,688 | ||||
| Packaging Corp. of America | 19,916 | 4,623 | ||||
| Snap-on Inc. | 11,378 | 4,383 | ||||
| Expeditors International of Washington Inc. | 30,020 | 4,354 | ||||
| Fortive Corp. | 71,779 | 4,249 | ||||
| nVent Electric plc | 35,381 | 4,188 | ||||
| Lennox International Inc. | 7,160 | 4,081 | ||||
| Ball Corp. | 59,924 | 4,023 | ||||
| JB Hunt Transport Services Inc. | 17,002 | 3,968 | ||||
| Global Payments Inc. | 50,852 | 3,888 | ||||
| Carlisle Cos. Inc. | 9,266 | 3,658 | ||||
| MKS Inc. | 14,919 | 3,647 | ||||
| Pentair plc | 36,600 | 3,630 | ||||
| * | Trimble Inc. | 54,261 | 3,628 | |||
| TransUnion | 43,941 | 3,452 | ||||
| Nordson Corp. | 11,753 | 3,449 | ||||
| Graco Inc. | 36,436 | 3,422 | ||||
| Masco Corp. | 47,044 | 3,369 | ||||
| RPM International Inc. | 28,917 | 3,300 | ||||
| * | QXO Inc. | 135,802 | 3,252 | |||
| Watsco Inc. | 7,630 | 3,184 | ||||
| Allegion plc | 18,911 | 3,048 | ||||
| Crown Holdings Inc. | 25,861 | 2,964 | ||||
| * | Affirm Holdings Inc. Class A | 61,535 | 2,891 | |||
| * | Generac Holdings Inc. | 12,625 | 2,845 | |||
| * | Sterling Infrastructure Inc. | 6,543 | 2,801 | |||
| * | TopBuild Corp. | 6,231 | 2,793 | |||
| Stanley Black & Decker Inc. | 31,604 | 2,733 | ||||
| Jack Henry & Associates Inc. | 16,417 | 2,667 | ||||
| Advanced Drainage Systems Inc. | 15,567 | 2,667 | ||||
| * | Modine Manufacturing Co. | 11,595 | 2,635 | |||
| * | Dycom Industries Inc. | 6,102 | 2,563 | |||
| * | Builders FirstSource Inc. | 24,471 | 2,552 | |||
| CNH Industrial NV | 200,681 | 2,468 | ||||
| * | Saia Inc. | 6,029 | 2,444 | |||
| * | Zebra Technologies Corp. Class A | 10,884 | 2,438 | |||
| * | SPX Technologies Inc. | 10,579 | 2,401 | |||
| Donaldson Co. Inc. | 25,838 | 2,397 | ||||
| Applied Industrial Technologies Inc. | 8,292 | 2,343 | ||||
| Owens Corning | 19,054 | 2,326 | ||||
| * | Core & Main Inc. Class A | 42,536 | 2,304 | |||
| Knight-Swift Transportation Holdings Inc. Class A | 35,752 | 2,250 | ||||
| AptarGroup Inc. | 14,899 | 2,141 | ||||
| Toro Co. | 21,516 | 2,127 | ||||
| Acuity Inc. | 6,957 | 2,098 | ||||
| Valmont Industries Inc. | 4,306 | 1,980 | ||||
| Watts Water Technologies Inc. Class A | 6,005 | 1,974 | ||||
| Ryder System Inc. | 8,788 | 1,947 | ||||
| Cognex Corp. | 35,753 | 1,945 | ||||
| Littelfuse Inc. | 5,492 | 1,936 | ||||
| A O Smith Corp. | 24,597 | 1,919 | ||||
12
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| AGCO Corp. | 13,981 | 1,908 | ||||
| * | Middleby Corp. | 10,856 | 1,833 | |||
| Simpson Manufacturing Co. Inc. | 9,237 | 1,788 | ||||
| JBT Marel Corp. | 11,529 | 1,775 | ||||
| Terex Corp. | 24,636 | 1,695 | ||||
| Installed Building Products Inc. | 5,092 | 1,669 | ||||
| Zurn Elkay Water Solutions Corp. | 32,242 | 1,644 | ||||
| * | Axalta Coating Systems Ltd. | 48,762 | 1,629 | |||
| Armstrong World Industries Inc. | 9,376 | 1,627 | ||||
| MSA Safety Inc. | 8,256 | 1,613 | ||||
| Eagle Materials Inc. | 7,129 | 1,595 | ||||
| * | Gates Industrial Corp. plc | 57,378 | 1,582 | |||
| AAON Inc. | 15,137 | 1,532 | ||||
| Federal Signal Corp. | 13,149 | 1,531 | ||||
| Fortune Brands Innovations Inc. | 28,103 | 1,527 | ||||
| * | GXO Logistics Inc. | 24,128 | 1,516 | |||
| Genpact Ltd. | 36,845 | 1,464 | ||||
| Air Lease Corp. Class A | 22,183 | 1,438 | ||||
| * | Construction Partners Inc. Class A | 10,242 | 1,376 | |||
| * | Everus Construction Group Inc. | 11,322 | 1,369 | |||
| EnerSys | 8,190 | 1,361 | ||||
| Vontier Corp. | 32,382 | 1,325 | ||||
| * | Mohawk Industries Inc. | 10,538 | 1,320 | |||
| Sealed Air Corp. | 31,178 | 1,306 | ||||
| Landstar System Inc. | 7,923 | 1,291 | ||||
| Sonoco Products Co. | 22,842 | 1,290 | ||||
| Granite Construction Inc. | 9,500 | 1,277 | ||||
| Belden Inc. | 8,835 | 1,266 | ||||
| * | Aurora Innovation Inc. Class A | 268,005 | 1,254 | |||
| Brunswick Corp. | 15,425 | 1,228 | ||||
| Sensata Technologies Holding plc | 32,820 | 1,226 | ||||
| Louisiana-Pacific Corp. | 14,301 | 1,212 | ||||
| * | WEX Inc. | 7,868 | 1,174 | |||
| Ralliant Corp. | 25,430 | 1,167 | ||||
| Arcosa Inc. | 10,571 | 1,136 | ||||
| * | ExlService Holdings Inc. | 36,141 | 1,129 | |||
| * | FTI Consulting Inc. | 6,832 | 1,123 | |||
| * | Resideo Technologies Inc. | 28,568 | 1,106 | |||
| * | Paylocity Holding Corp. | 10,371 | 1,104 | |||
| Brink's Co. | 9,300 | 1,086 | ||||
| * | Knife River Corp. | 12,073 | 1,074 | |||
| Herc Holdings Inc. | 7,375 | 1,031 | ||||
| * | OSI Systems Inc. | 3,616 | 1,031 | |||
| Badger Meter Inc. | 6,732 | 1,026 | ||||
| * | IES Holdings Inc. | 1,990 | 986 | |||
| MSC Industrial Direct Co. Inc. Class A | 10,478 | 983 | ||||
| Maximus Inc. | 12,604 | 953 | ||||
| * | Itron Inc. | 10,138 | 952 | |||
| * | StoneCo Ltd. Class A | 56,285 | 946 | |||
| * | ACI Worldwide Inc. | 23,614 | 937 | |||
| Kadant Inc. | 2,751 | 933 | ||||
| ADT Inc. | 115,778 | 929 | ||||
| * | Trex Co. Inc. | 21,766 | 902 | |||
| Franklin Electric Co. Inc. | 9,002 | 897 | ||||
| AZZ Inc. | 6,540 | 889 | ||||
| Silgan Holdings Inc. | 18,224 | 876 | ||||
| Graphic Packaging Holding Co. | 70,719 | 865 | ||||
| HB Fuller Co. | 12,973 | 853 | ||||
| WillScot Holdings Corp. | 38,017 | 822 | ||||
| Korn Ferry | 12,801 | 802 | ||||
| ZIM Integrated Shipping Services Ltd. | 27,388 | 790 | ||||
| UniFirst Corp. | 3,345 | 785 | ||||
| Boise Cascade Co. | 9,010 | 746 | ||||
| * | NCR Atleos Corp. | 16,657 | 738 | |||
| Griffon Corp. | 8,451 | 720 | ||||
| *,1 | Shift4 Payments Inc. Class A | 15,799 | 696 | |||
| * | BILL Holdings Inc. | 15,548 | 692 | |||
| * | Hayward Holdings Inc. | 42,114 | 674 | |||
| ABM Industries Inc. | 14,882 | 662 | ||||
| * | Remitly Global Inc. | 39,173 | 654 | |||
13
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Verra Mobility Corp. Class A | 37,699 | 630 | |||
| Hub Group Inc. Class A | 14,311 | 616 | ||||
| * | RXO Inc. | 37,098 | 592 | |||
| McGrath RentCorp | 5,275 | 585 | ||||
| Western Union Co. | 60,500 | 583 | ||||
| ArcBest Corp. | 5,421 | 557 | ||||
| Crane NXT Co. | 11,528 | 557 | ||||
| * | Huron Consulting Group Inc. | 3,799 | 537 | |||
| * | Euronet Worldwide Inc. | 7,579 | 527 | |||
| Werner Enterprises Inc. | 14,979 | 526 | ||||
| * | Joby Aviation Inc. | 49,816 | 501 | |||
| * | O-I Glass Inc. | 35,447 | 475 | |||
| Atkore Inc. | 7,122 | 461 | ||||
| * | ASGN Inc. | 10,433 | 448 | |||
| Greif Inc. Class A | 6,152 | 447 | ||||
| Greenbrier Cos. Inc. | 7,297 | 412 | ||||
| Robert Half Inc. | 15,900 | 388 | ||||
| * | Upwork Inc. | 27,866 | 374 | |||
| Lindsay Corp. | 2,728 | 367 | ||||
| EVERTEC Inc. | 12,127 | 343 | ||||
| Pagseguro Digital Ltd. Class A | 32,034 | 340 | ||||
| * | CBIZ Inc. | 11,831 | 339 | |||
| * | Marqeta Inc. Class A | 85,947 | 330 | |||
| Schneider National Inc. Class B | 11,202 | 318 | ||||
| * | Gibraltar Industries Inc. | 6,953 | 316 | |||
| * | Masterbrand Inc. | 30,778 | 311 | |||
| TriNet Group Inc. | 7,807 | 297 | ||||
| * | Payoneer Global Inc. | 66,101 | 286 | |||
| TriMas Corp. | 7,299 | 285 | ||||
| * | Cimpress plc | 3,851 | 281 | |||
| United States Lime & Minerals Inc. | 2,271 | 259 | ||||
| * | Sezzle Inc. | 3,512 | 256 | |||
| Matson Inc. | 1,516 | 252 | ||||
| * | Flywire Corp. | 20,069 | 247 | |||
| Tennant Co. | 3,742 | 228 | ||||
| Tecnoglass Inc. | 4,769 | 217 | ||||
| * | Enovix Corp. | 41,053 | 216 | |||
| * | Legalzoom.com Inc. | 30,187 | 212 | |||
| Dlocal Ltd. Class A | 17,153 | 210 | ||||
| Insperity Inc. | 8,897 | 198 | ||||
| ManpowerGroup Inc. | 5,929 | 166 | ||||
| Ardagh Metal Packaging SA | 16,264 | 79 | ||||
| Alight Inc. Class A | 36,705 | 32 | ||||
| 976,883 | ||||||
| Real Estate (2.8%) | ||||||
| Welltower Inc. | 152,294 | 31,543 | ||||
| Prologis Inc. | 205,312 | 29,271 | ||||
| Equinix Inc. | 21,751 | 21,191 | ||||
| American Tower Corp. | 103,312 | 19,821 | ||||
| Simon Property Group Inc. | 72,222 | 14,723 | ||||
| Realty Income Corp. | 204,798 | 13,722 | ||||
| Digital Realty Trust Inc. | 76,721 | 13,595 | ||||
| Public Storage | 35,429 | 10,879 | ||||
| * | CBRE Group Inc. Class A | 65,999 | 9,745 | |||
| Ventas Inc. | 103,530 | 8,920 | ||||
| Crown Castle Inc. | 94,023 | 8,419 | ||||
| Iron Mountain Inc. | 65,716 | 7,119 | ||||
| Extra Space Storage Inc. | 46,195 | 6,977 | ||||
| AvalonBay Communities Inc. | 32,556 | 5,770 | ||||
| Equity Residential | 81,906 | 5,177 | ||||
| SBA Communications Corp. | 22,836 | 4,594 | ||||
| * | CoStar Group Inc. | 93,419 | 4,169 | |||
| Essex Property Trust Inc. | 14,647 | 3,737 | ||||
| Invitation Homes Inc. | 141,258 | 3,721 | ||||
| Kimco Realty Corp. | 155,080 | 3,652 | ||||
| Sun Communities Inc. | 25,876 | 3,531 | ||||
| WP Carey Inc. | 46,526 | 3,473 | ||||
| * | Jones Lang LaSalle Inc. | 10,526 | 3,322 | |||
| Mid-America Apartment Communities Inc. | 24,351 | 3,260 | ||||
14
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Regency Centers Corp. | 41,190 | 3,254 | ||||
| Omega Healthcare Investors Inc. | 65,963 | 3,184 | ||||
| Host Hotels & Resorts Inc. | 155,072 | 3,038 | ||||
| Equity LifeStyle Properties Inc. | 40,580 | 2,725 | ||||
| Lamar Advertising Co. Class A | 19,507 | 2,687 | ||||
| UDR Inc. | 67,798 | 2,542 | ||||
| Healthpeak Properties Inc. | 143,622 | 2,539 | ||||
| American Homes 4 Rent Class A | 80,674 | 2,420 | ||||
| Camden Property Trust | 22,109 | 2,395 | ||||
| EastGroup Properties Inc. | 11,329 | 2,224 | ||||
| CubeSmart | 53,729 | 2,210 | ||||
| Brixmor Property Group Inc. | 70,956 | 2,148 | ||||
| Agree Realty Corp. | 26,067 | 2,098 | ||||
| CareTrust REIT Inc. | 48,698 | 1,978 | ||||
| Alexandria Real Estate Equities Inc. | 36,093 | 1,951 | ||||
| Federal Realty Investment Trust | 17,774 | 1,933 | ||||
| American Healthcare REIT Inc. | 35,838 | 1,872 | ||||
| BXP Inc. | 32,329 | 1,862 | ||||
| First Industrial Realty Trust Inc. | 29,314 | 1,851 | ||||
| Rexford Industrial Realty Inc. | 46,736 | 1,751 | ||||
| NNN REIT Inc. | 38,303 | 1,736 | ||||
| Terreno Realty Corp. | 23,648 | 1,562 | ||||
| Essential Properties Realty Trust Inc. | 45,603 | 1,548 | ||||
| STAG Industrial Inc. | 38,994 | 1,529 | ||||
| Rayonier Inc. | 66,109 | 1,421 | ||||
| Ryman Hospitality Properties Inc. | 14,290 | 1,411 | ||||
| * | Zillow Group Inc. Class C | 31,138 | 1,389 | |||
| Kite Realty Group Trust | 51,298 | 1,336 | ||||
| Macerich Co. | 60,300 | 1,234 | ||||
| Healthcare Realty Trust Inc. Class A | 63,209 | 1,166 | ||||
| Phillips Edison & Co. Inc. | 29,333 | 1,152 | ||||
| Vornado Realty Trust | 40,893 | 1,128 | ||||
| Sabra Health Care REIT Inc. | 54,589 | 1,122 | ||||
| Millrose Properties Inc. | 34,700 | 1,088 | ||||
| EPR Properties | 17,396 | 1,034 | ||||
| Cousins Properties Inc. | 43,919 | 1,017 | ||||
| HA Sustainable Infrastructure Capital Inc. | 27,675 | 1,011 | ||||
| Tanger Inc. | 26,607 | 986 | ||||
| Independence Realty Trust Inc. | 58,789 | 974 | ||||
| Outfront Media Inc. | 33,162 | 955 | ||||
| National Health Investors Inc. | 10,088 | 848 | ||||
| COPT Defense Properties | 26,268 | 835 | ||||
| Apple Hospitality REIT Inc. | 63,931 | 784 | ||||
| * | Zillow Group Inc. Class A | 17,282 | 774 | |||
| Americold Realty Trust Inc. | 56,592 | 758 | ||||
| Four Corners Property Trust Inc. | 29,319 | 748 | ||||
| Acadia Realty Trust | 34,981 | 732 | ||||
| Broadstone Net Lease Inc. | 36,399 | 706 | ||||
| Lineage Inc. | 17,414 | 706 | ||||
| * | Cushman & Wakefield Ltd. | 51,874 | 696 | |||
| Urban Edge Properties | 32,322 | 687 | ||||
| LXP Industrial Trust | 13,694 | 679 | ||||
| Kilroy Realty Corp. | 22,143 | 660 | ||||
| Highwoods Properties Inc. | 29,303 | 659 | ||||
| National Storage Affiliates Trust | 18,783 | 658 | ||||
| SL Green Realty Corp. | 17,572 | 648 | ||||
| Park Hotels & Resorts Inc. | 54,933 | 621 | ||||
| Curbline Properties Corp. | 21,575 | 600 | ||||
| St. Joe Co. | 8,169 | 590 | ||||
| DigitalBridge Group Inc. | 38,161 | 590 | ||||
| Medical Properties Trust Inc. | 92,700 | 534 | ||||
| DiamondRock Hospitality Co. | 50,822 | 510 | ||||
| * | Howard Hughes Holdings Inc. | 7,032 | 509 | |||
| Newmark Group Inc. Class A | 33,630 | 488 | ||||
| Sunstone Hotel Investors Inc. | 50,660 | 470 | ||||
| Getty Realty Corp. | 13,964 | 458 | ||||
| Global Net Lease Inc. | 48,555 | 457 | ||||
| Pebblebrook Hotel Trust | 30,722 | 394 | ||||
| Veris Residential Inc. | 20,069 | 378 | ||||
| Xenia Hotels & Resorts Inc. | 23,979 | 366 | ||||
15
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| LTC Properties Inc. | 9,053 | 359 | ||||
| Alexander & Baldwin Inc. | 15,208 | 316 | ||||
| Marcus & Millichap Inc. | 7,414 | 196 | ||||
| Douglas Emmett Inc. | 16,018 | 158 | ||||
| JBG SMITH Properties | 10,138 | 154 | ||||
| Innovative Industrial Properties Inc. | 2,846 | 151 | ||||
| Empire State Realty Trust Inc. Class A | 21,566 | 127 | ||||
| American Assets Trust Inc. | 5,727 | 112 | ||||
| eXp World Holdings Inc. | 8,539 | 60 | ||||
| 331,968 | ||||||
| Technology (43.2%) | ||||||
| NVIDIA Corp. | 5,197,879 | 921,012 | ||||
| Apple Inc. | 3,237,625 | 855,316 | ||||
| Microsoft Corp. | 1,647,181 | 646,914 | ||||
| Alphabet Inc. Class A | 1,284,175 | 400,354 | ||||
| Alphabet Inc. Class C | 1,057,927 | 329,470 | ||||
| Broadcom Inc. | 1,025,642 | 327,744 | ||||
| Meta Platforms Inc. Class A | 484,959 | 314,341 | ||||
| Micron Technology Inc. | 248,143 | 102,327 | ||||
| * | Advanced Micro Devices Inc. | 357,666 | 71,608 | |||
| Applied Materials Inc. | 178,128 | 66,317 | ||||
| Lam Research Corp. | 278,825 | 65,214 | ||||
| Oracle Corp. | 373,590 | 54,320 | ||||
| * | Intel Corp. | 980,108 | 44,703 | |||
| KLA Corp. | 29,217 | 44,543 | ||||
| Texas Instruments Inc. | 202,004 | 42,847 | ||||
| Salesforce Inc. | 207,787 | 40,475 | ||||
| QUALCOMM Inc. | 240,223 | 34,198 | ||||
| Corning Inc. | 173,416 | 26,078 | ||||
| * | Palo Alto Networks Inc. | 173,251 | 25,801 | |||
| * | ServiceNow Inc. | 230,217 | 24,866 | |||
| Intuit Inc. | 60,753 | 24,850 | ||||
| * | Adobe Inc. | 92,446 | 24,259 | |||
| * | AppLovin Corp. Class A | 52,993 | 23,040 | |||
| Vertiv Holdings Co. Class A | 84,555 | 21,552 | ||||
| Western Digital Corp. | 75,541 | 21,129 | ||||
| * | Crowdstrike Holdings Inc. Class A | 55,008 | 20,462 | |||
| * | Sandisk Corp. | 31,246 | 19,852 | |||
| Seagate Technology Holdings plc | 47,025 | 19,179 | ||||
| * | Cadence Design Systems Inc. | 60,712 | 18,299 | |||
| * | Synopsys Inc. | 41,047 | 16,993 | |||
| Marvell Technology Inc. | 192,416 | 15,718 | ||||
| * | DoorDash Inc. Class A | 79,787 | 14,080 | |||
| NXP Semiconductors NV | 56,232 | 12,765 | ||||
| * | Snowflake Inc. Class A | 73,063 | 12,305 | |||
| * | Cloudflare Inc. Class A | 69,755 | 12,011 | |||
| Monolithic Power Systems Inc. | 10,287 | 11,755 | ||||
| * | Autodesk Inc. | 47,565 | 11,695 | |||
| * | Fortinet Inc. | 141,922 | 11,216 | |||
| Teradyne Inc. | 34,773 | 11,128 | ||||
| Dell Technologies Inc. Class C | 71,068 | 10,524 | ||||
| Microchip Technology Inc. | 117,531 | 8,773 | ||||
| Roper Technologies Inc. | 23,478 | 8,211 | ||||
| * | Datadog Inc. Class A | 69,499 | 7,781 | |||
| * | Strategy Inc. | 59,020 | 7,643 | |||
| Cognizant Technology Solutions Corp. Class A | 108,357 | 6,981 | ||||
| * | Workday Inc. Class A | 48,225 | 6,451 | |||
| Hewlett Packard Enterprise Co. | 293,294 | 6,297 | ||||
| Jabil Inc. | 23,503 | 6,228 | ||||
| * | ON Semiconductor Corp. | 91,190 | 6,062 | |||
| Qnity Electronics Inc. | 46,646 | 5,913 | ||||
| * | MongoDB Inc. | 17,552 | 5,765 | |||
| * | Flex Ltd. | 82,022 | 5,169 | |||
| * | Pure Storage Inc. Class A | 69,245 | 4,447 | |||
| Entegris Inc. | 33,547 | 4,443 | ||||
| * | Fabrinet | 7,957 | 4,342 | |||
| NetApp Inc. | 43,644 | 4,322 | ||||
| VeriSign Inc. | 18,594 | 4,238 | ||||
| * | PTC Inc. | 26,717 | 4,184 | |||
16
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Zoom Communications Inc. | 56,339 | 4,166 | |||
| HP Inc. | 213,121 | 4,047 | ||||
| * | Reddit Inc. Class A | 27,676 | 4,035 | |||
| * | Credo Technology Group Holding Ltd. | 33,786 | 3,793 | |||
| * | Twilio Inc. Class A | 30,983 | 3,748 | |||
| * | Super Micro Computer Inc. | 112,556 | 3,646 | |||
| SS&C Technologies Holdings Inc. | 47,229 | 3,556 | ||||
| CDW Corp. | 28,661 | 3,515 | ||||
| * | F5 Inc. | 12,841 | 3,485 | |||
| * | Tyler Technologies Inc. | 9,717 | 3,447 | |||
| * | Zscaler Inc. | 22,366 | 3,288 | |||
| * | Akamai Technologies Inc. | 31,655 | 3,115 | |||
| * | HubSpot Inc. | 11,467 | 3,033 | |||
| * | Lattice Semiconductor Corp. | 30,402 | 2,907 | |||
| * | Check Point Software Technologies Ltd. | 18,901 | 2,874 | |||
| * | IonQ Inc. | 74,780 | 2,869 | |||
| * | Toast Inc. Class A | 104,831 | 2,863 | |||
| Gen Digital Inc. | 124,952 | 2,820 | ||||
| * | Guidewire Software Inc. | 19,134 | 2,781 | |||
| Advanced Energy Industries Inc. | 8,271 | 2,776 | ||||
| * | Atlassian Corp. Class A | 36,144 | 2,716 | |||
| TD SYNNEX Corp. | 17,134 | 2,687 | ||||
| * | GoDaddy Inc. Class A | 29,283 | 2,552 | |||
| * | Okta Inc. | 35,096 | 2,544 | |||
| * | Gartner Inc. | 16,075 | 2,527 | |||
| * | Dynatrace Inc. | 67,572 | 2,427 | |||
| * | Rambus Inc. | 23,793 | 2,371 | |||
| * | Onto Innovation Inc. | 10,894 | 2,352 | |||
| * | Pinterest Inc. Class A | 127,265 | 2,180 | |||
| * | Nutanix Inc. Class A | 56,260 | 2,154 | |||
| * | Samsara Inc. Class A | 70,732 | 2,044 | |||
| * | Confluent Inc. Class A | 64,418 | 1,976 | |||
| * | SiTime Corp. | 4,755 | 1,892 | |||
| * | Docusign Inc. | 41,270 | 1,860 | |||
| * | Manhattan Associates Inc. | 13,568 | 1,838 | |||
| Skyworks Solutions Inc. | 30,481 | 1,816 | ||||
| * | Arrow Electronics Inc. | 11,716 | 1,783 | |||
| Match Group Inc. | 55,655 | 1,759 | ||||
| * | Semtech Corp. | 19,268 | 1,738 | |||
| Amdocs Ltd. | 24,852 | 1,735 | ||||
| * | FormFactor Inc. | 17,153 | 1,696 | |||
| * | Cirrus Logic Inc. | 11,400 | 1,609 | |||
| * | EPAM Systems Inc. | 11,233 | 1,584 | |||
| * | Rubrik Inc. Class A | 30,075 | 1,563 | |||
| * | Silicon Laboratories Inc. | 7,477 | 1,529 | |||
| * | Maplebear Inc. | 39,116 | 1,467 | |||
| * | Procore Technologies Inc. | 26,176 | 1,441 | |||
| * | Qorvo Inc. | 17,376 | 1,440 | |||
| Amkor Technology Inc. | 26,948 | 1,289 | ||||
| Paycom Software Inc. | 10,175 | 1,280 | ||||
| * | Unity Software Inc. | 69,778 | 1,272 | |||
| Avnet Inc. | 19,280 | 1,269 | ||||
| * | Core Scientific Inc. | 64,284 | 1,091 | |||
| * | Elastic NV | 20,890 | 1,088 | |||
| * | Novanta Inc. | 8,058 | 1,083 | |||
| * | Dropbox Inc. Class A | 43,060 | 1,076 | |||
| * | ServiceTitan Inc. Class A | 14,851 | 1,075 | |||
| * | GLOBALFOUNDRIES Inc. | 22,530 | 1,071 | |||
| * | Allegro MicroSystems Inc. | 28,048 | 1,023 | |||
| Universal Display Corp. | 9,265 | 988 | ||||
| * | UiPath Inc. Class A | 90,979 | 976 | |||
| Clear Secure Inc. Class A | 19,234 | 936 | ||||
| * | SentinelOne Inc. Class A | 69,053 | 906 | |||
| * | JFrog Ltd. | 22,147 | 889 | |||
| * | Life360 Inc. | 16,722 | 880 | |||
| Pegasystems Inc. | 19,780 | 865 | ||||
| * | DigitalOcean Holdings Inc. | 15,255 | 855 | |||
| * | Global-e Online Ltd. | 24,285 | 849 | |||
| * | Gitlab Inc. Class A | 31,955 | 840 | |||
| * | Wix.com Ltd. | 11,659 | 821 | |||
17
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| Kulicke & Soffa Industries Inc. | 11,645 | 812 | ||||
| * | Commvault Systems Inc. | 9,478 | 806 | |||
| * | Box Inc. Class A | 33,510 | 789 | |||
| * | CCC Intelligent Solutions Holdings Inc. | 133,651 | 779 | |||
| Dolby Laboratories Inc. Class A | 11,579 | 771 | ||||
| * | Qualys Inc. | 8,247 | 763 | |||
| * | Impinj Inc. | 5,974 | 733 | |||
| *,1 | SoundHound AI Inc. Class A | 84,600 | 728 | |||
| * | Zeta Global Holdings Corp. Class A | 42,413 | 719 | |||
| * | Workiva Inc. Class A | 11,363 | 700 | |||
| * | Teradata Corp. | 21,943 | 691 | |||
| * | Q2 Holdings Inc. | 14,204 | 683 | |||
| * | Synaptics Inc. | 8,298 | 676 | |||
| * | Monday.com Ltd. | 9,313 | 676 | |||
| * | Diodes Inc. | 9,449 | 645 | |||
| * | IAC Inc. | 16,345 | 626 | |||
| * | Cleanspark Inc. | 62,483 | 622 | |||
| * | Varonis Systems Inc. | 26,895 | 621 | |||
| * | Kyndryl Holdings Inc. | 49,581 | 611 | |||
| * | RingCentral Inc. Class A | 16,569 | 604 | |||
| * | Axcelis Technologies Inc. | 7,085 | 585 | |||
| * | Cargurus Inc. Class A | 19,045 | 585 | |||
| Power Integrations Inc. | 11,753 | 563 | ||||
| * | Ambarella Inc. | 9,280 | 560 | |||
| * | DXC Technology Co. | 43,985 | 554 | |||
| Vishay Intertechnology Inc. | 28,723 | 538 | ||||
| Adeia Inc. | 24,327 | 503 | ||||
| CSG Systems International Inc. | 5,999 | 479 | ||||
| * | Insight Enterprises Inc. | 5,562 | 465 | |||
| * | Blackbaud Inc. | 9,430 | 458 | |||
| * | Progress Software Corp. | 10,798 | 452 | |||
| * | SPS Commerce Inc. | 7,874 | 445 | |||
| * | Magnite Inc. | 32,436 | 442 | |||
| * | Alarm.com Holdings Inc. | 8,838 | 423 | |||
| * | nCino Inc. | 25,966 | 419 | |||
| * | NetScout Systems Inc. | 14,057 | 411 | |||
| * | Freshworks Inc. Class A | 50,913 | 398 | |||
| * | Trump Media & Technology Group Corp. | 36,811 | 394 | |||
| * | Globant SA | 7,881 | 392 | |||
| * | Braze Inc. Class A | 20,129 | 382 | |||
| * | Tenable Holdings Inc. | 19,204 | 369 | |||
| * | BlackLine Inc. | 9,972 | 352 | |||
| CTS Corp. | 6,420 | 338 | ||||
| * | Rogers Corp. | 3,052 | 329 | |||
| * | Yelp Inc. Class A | 14,632 | 326 | |||
| * | Intapp Inc. | 14,022 | 315 | |||
| * | LiveRamp Holdings Inc. | 11,377 | 309 | |||
| * | Alkami Technology Inc. | 17,118 | 283 | |||
| * | MaxLinear Inc. Class A | 15,202 | 265 | |||
| * | C3.ai Inc. Class A | 33,051 | 263 | |||
| * | DoubleVerify Holdings Inc. | 24,343 | 257 | |||
| Concentrix Corp. | 7,265 | 238 | ||||
| * | ZoomInfo Technologies Inc. Class A | 38,132 | 237 | |||
| * | SailPoint Inc. | 15,393 | 217 | |||
| * | Appian Corp. Class A | 8,117 | 216 | |||
| * | Ziff Davis Inc. | 7,773 | 210 | |||
| * | Schrodinger Inc. | 15,633 | 189 | |||
| * | NCR Voyix Corp. | 24,106 | 184 | |||
| * | Clarivate plc | 46,650 | 107 | |||
| * | Five9 Inc. | 5,135 | 90 | |||
| * | PagerDuty Inc. | 11,217 | 79 | |||
| * | Asana Inc. Class A | 10,187 | 72 | |||
| * | N-able Inc. | 8,687 | 38 | |||
| * | Rapid7 Inc. | 3,005 | 19 | |||
| 5,051,781 | ||||||
| Telecommunications (2.5%) | ||||||
| Cisco Systems Inc. | 883,674 | 70,217 | ||||
| Verizon Communications Inc. | 935,009 | 46,881 | ||||
| AT&T Inc. | 1,531,227 | 42,890 | ||||
18
ESG U.S. Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Arista Networks Inc. | 229,162 | 30,593 | |||
| Comcast Corp. Class A | 800,246 | 24,776 | ||||
| T-Mobile US Inc. | 107,678 | 23,376 | ||||
| Motorola Solutions Inc. | 36,822 | 17,758 | ||||
| * | Lumentum Holdings Inc. | 15,656 | 10,973 | |||
| * | Ciena Corp. | 31,290 | 10,911 | |||
| * | Charter Communications Inc. Class A | 17,547 | 4,117 | |||
| * | AST SpaceMobile Inc. Class A | 48,919 | 3,874 | |||
| * | Roku Inc. | 27,902 | 2,746 | |||
| InterDigital Inc. | 5,713 | 2,094 | ||||
| * | Lumen Technologies Inc. | 210,620 | 1,498 | |||
| * | Viavi Solutions Inc. | 48,600 | 1,444 | |||
| Telephone & Data Systems Inc. | 22,803 | 1,020 | ||||
| Ubiquiti Inc. | 930 | 713 | ||||
| * | Globalstar Inc. | 11,023 | 686 | |||
| * | Calix Inc. | 12,729 | 659 | |||
| * | Liberty Global Ltd. Class C | 49,609 | 610 | |||
| * | Extreme Networks Inc. | 30,355 | 424 | |||
| * | Liberty Global Ltd. Class A | 27,337 | 348 | |||
| * | Liberty Latin America Ltd. Class C | 33,676 | 267 | |||
| Cogent Communications Holdings Inc. | 11,646 | 219 | ||||
| 299,094 | ||||||
| Utilities (0.5%) | ||||||
| Waste Management Inc. | 82,312 | 19,824 | ||||
| Exelon Corp. | 226,180 | 11,189 | ||||
| Republic Services Inc. | 44,530 | 10,197 | ||||
| American Water Works Co. Inc. | 41,900 | 5,700 | ||||
| Essential Utilities Inc. | 58,783 | 2,350 | ||||
| Ormat Technologies Inc. | 13,361 | 1,386 | ||||
| * | Casella Waste Systems Inc. Class A | 14,133 | 1,317 | |||
| California Water Service Group | 16,003 | 721 | ||||
| * | Sunrun Inc. | 49,470 | 655 | |||
| H2O America | 9,457 | 509 | ||||
| 53,848 | ||||||
| Total Common Stocks (Cost $7,545,478) | 11,626,386 | |||||
| Rights (0.0%) | ||||||
| *,2 | OmniAb Inc. 12.5 Earnout | 1,051 | — | |||
| *,2 | OmniAb Inc. 15 Earnout | 1,051 | — | |||
| Total Rights (Cost $—) | — | |||||
| Temporary Cash Investments (0.5%) | ||||||
| Money Market Fund (0.5%) | ||||||
| 3,4 | Vanguard Market Liquidity Fund, 3.693% (Cost $53,426) | 534,291 | 53,424 | |||
| Total Investments (100.0%) (Cost $7,598,904) | 11,679,810 | |||||
| Other Assets and Liabilities—Net (0.0%) | 4,667 | |||||
| Net Assets (100%) | 11,684,477 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| * | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $3,328. |
| 2 | Security value determined using significant unobservable inputs. |
| 3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 4 | Collateral of $3,658 was received for securities on loan. |
| REIT—Real Estate Investment Trust. |
19
ESG U.S. Stock ETF
Derivative Financial
Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Long Futures Contracts | ||||
| E-mini NASDAQ 100 Index | March 2026 | 15 | 7,502 | (85) |
| E-mini S&P 500 Index | March 2026 | 87 | 29,967 | (52) |
| (137) | ||||
| Over-the-Counter Total Return Swaps | ||||||
| Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
| Bank of America Corp. | 2/1/2027 | CITNA | 3,632 | (4.490) | — | (201) |
| Citigroup Inc. | 8/31/2027 | BANA | 2,602 | (4.380) | — | (87) |
| Elevance Health Inc. | 8/31/2026 | BANA | 271 | (4.390) | — | (9) |
| Global Payments Inc. | 8/31/2026 | BANA | 20 | (4.490) | — | — |
| Goldman Sachs Group Inc. | 8/31/2027 | BANA | 2,948 | (4.490) | — | (206) |
| JPMorgan Chase & Co. | 8/31/2027 | BANA | 11,319 | (4.433) | — | (113) |
| NetApp Inc. | 8/31/2026 | BANA | 124 | (4.320) | — | (3) |
| PayPal Holdings Inc. | 8/31/2026 | BANA | 657 | (4.490) | — | (16) |
| — | (635) | |||||
| 1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/(paid) monthly. |
| BANA—Bank of America, N.A. |
| CITNA—Citibank, N.A. |
See accompanying Notes,
which are an integral part of the Financial Statements.
20
ESG U.S. Stock ETF
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value1 | |
| Unaffiliated Issuers (Cost $7,545,478) | 11,626,386 |
| Affiliated Issuers (Cost $53,426) | 53,424 |
| Total Investments in Securities | 11,679,810 |
| Investment in Vanguard | 276 |
| Cash | 526 |
| Cash Collateral Pledged—Futures Contracts | 2,543 |
| Receivables for Accrued Income | 6,367 |
| Total Assets | 11,689,522 |
| Liabilities | |
| Payables for Investment Securities Purchased | 224 |
| Collateral for Securities on Loan | 3,658 |
| Payables to Vanguard | 376 |
| Variation Margin Payable—Futures Contracts | 152 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | 635 |
| Total Liabilities | 5,045 |
| Net Assets | 11,684,477 |
| 1 Includes $3,328 of securities on loan. | |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 7,755,263 |
| Total Distributable Earnings (Loss) | 3,929,214 |
| Net Assets | 11,684,477 |
| Net Assets | |
| Applicable to 98,100,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,684,477 |
| Net Asset Value Per Share | $119.11 |
See accompanying Notes,
which are an integral part of the Financial Statements.
21
ESG U.S. Stock ETF
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Dividends1 | 59,311 |
| Interest2 | 491 |
| Securities Lending—Net | 75 |
| Total Income | 59,877 |
| Expenses | |
| The Vanguard Group—Note C | |
| Investment Advisory Services | 92 |
| Management and Administrative | 4,872 |
| Marketing and Distribution | 169 |
| Custodian Fees | 13 |
| Shareholders’ Reports | 63 |
| Trustees’ Fees and Expenses | 3 |
| Other Expenses | 9 |
| Total Expenses | 5,221 |
| Net Investment Income | 54,656 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold2,3 | 141,087 |
| Futures Contracts | 2,876 |
| Swap Contracts | (1,312) |
| Realized Net Gain (Loss) | 142,651 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities2 | 311,926 |
| Futures Contracts | (1,169) |
| Swap Contracts | (635) |
| Change in Unrealized Appreciation (Depreciation) | 310,122 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 507,429 |
| 1 | Dividends are net of foreign withholding taxes of $25. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $455, $3, and ($4), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Includes $211,785 of net gain (loss) resulting from in-kind redemptions. |
See accompanying Notes,
which are an integral part of the Financial Statements.
22
ESG U.S. Stock ETF
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 54,656 | 106,033 | |
| Realized Net Gain (Loss) | 142,651 | 183,384 | |
| Change in Unrealized Appreciation (Depreciation) | 310,122 | 1,227,996 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 507,429 | 1,517,413 | |
| Distributions | |||
| Total Distributions | (56,978) | (105,993) | |
| Capital Share Transactions | |||
| Issued | 424,697 | 961,299 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | (353,894) | (530,955) | |
| Net Increase (Decrease) from Capital Share Transactions | 70,803 | 430,344 | |
| Total Increase (Decrease) | 521,254 | 1,841,764 | |
| Net Assets | |||
| Beginning of Period | 11,163,223 | 9,321,459 | |
| End of Period | 11,684,477 | 11,163,223 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
23
ESG U.S. Stock ETF
Financial Highlights
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $114.49 | $99.75 | $79.52 | $69.60 | $84.42 | $64.47 |
| Investment Operations | ||||||
| Net Investment Income1 | .559 | 1.100 | 1.031 | .983 | .921 | .873 |
| Net Realized and Unrealized Gain (Loss) on Investments | 4.639 | 14.738 | 20.310 | 9.884 | (14.856) | 19.844 |
| Total from Investment Operations | 5.198 | 15.838 | 21.341 | 10.867 | (13.935) | 20.717 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.578) | (1.098) | (1.111) | (.947) | (.885) | (.767) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.578) | (1.098) | (1.111) | (.947) | (.885) | (.767) |
| Net Asset Value, End of Period | $119.11 | $114.49 | $99.75 | $79.52 | $69.60 | $84.42 |
| Total Return | 4.54% | 16.01% | 27.05% | 15.82% | -16.61% | 32.41% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $11,684 | $11,163 | $9,321 | $6,799 | $5,900 | $5,259 |
| Ratio of Total Expenses to Average Net Assets | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% |
| Ratio of Net Investment Income to Average Net Assets | 0.93% | 1.05% | 1.17% | 1.38% | 1.18% | 1.18% |
| Portfolio Turnover Rate2 | 1% | 3% | 2% | 3% | 7% | 6% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes, which are an integral
part of the Financial Statements.
24
ESG U.S. Stock ETF
Notes to Financial Statements
Vanguard ESG U.S. Stock ETF is
registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. ETF Shares are listed for trading on Cboe BZX Exchange, Inc.; they can be purchased and sold through a broker.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official
closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which
market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods
deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund
are valued at that fund's net asset value.
2. Futures Contracts:
The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures
contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for
liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility
of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades
futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin
requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open
contracts are noted in the Schedule of Investments.
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the six months ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end
during the period.
3. Swap Contracts: The
fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the
referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a
specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a
floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary
cash investments.
A risk associated with all
types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on
the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting
arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be
repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either
party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions
whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination.
The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged
is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
The notional amounts of swap
contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is
recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap,
at which time realized gain (loss) is recorded.
During the six months ended
February 28, 2026, the fund’s average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.
4. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
5. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
25
ESG U.S. Stock ETF
6. Securities Lending:
To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by
collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When
this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only
with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements
provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net
amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the
securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period
the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income
earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
7. Credit Facilities and
Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit
agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be
utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged
administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included
in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate,
the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based
upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to
be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
8. Other: Dividend
income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from
Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment
securities are those of the specific securities sold.
B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Portfolio Management, LLC.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate
management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines
approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $276,000, representing less than 0.01% of the fund’s
net assets and 0.11% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
26
ESG U.S. Stock ETF
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks | 11,624,571 | — | 1,815 | 11,626,386 |
| Rights | — | — | — | — |
| Temporary Cash Investments | 53,424 | — | — | 53,424 |
| Total | 11,677,995 | — | 1,815 | 11,679,810 |
| Derivative Financial Instruments | ||||
| Liabilities | ||||
| Futures Contracts1 | (137) | — | — | (137) |
| Swap Contracts | — | (635) | — | (635) |
| Total | (137) | (635) | — | (772) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 7,602,614 |
| Gross Unrealized Appreciation | 4,635,076 |
| Gross Unrealized Depreciation | (558,652) |
| Net Unrealized Appreciation (Depreciation) | 4,076,424 |
The fund’s tax-basis
capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $304,440,000 that may be carried forward indefinitely
to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses
for the year, the losses will be added to the loss carryforward balance above.
F. During the six months ended February 28, 2026, the fund purchased $167,230,000 of investment securities and sold $198,704,000 of investment securities, other than temporary cash
investments. In addition, the fund purchased and sold investment securities of $415,553,000 and $340,127,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital
shares.
The fund purchased securities
from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment
Company Act of 1940. For the six months ended February 28, 2026, such purchases were $29,555,000 and sales were $35,638,000, resulting in net realized loss of $8,720,000; these amounts, other than temporary cash
investments, are included in the purchases and sales of investment securities noted above.
G. Capital shares issued and redeemed were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| Shares (000) | Shares (000) | ||
| Issued | 3,550 | 9,225 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | (2,950) | (5,175) | |
| Net Increase (Decrease) in Shares Outstanding | 600 | 4,050 |
H. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
27
ESG U.S. Stock ETF
I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q43932 042026
28
Financial Statements
For the six-months ended
February 28, 2026
Vanguard ESG International Stock ETF
Contents
Financial Statements | 1 |
ESG International Stock ETF
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
1
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Cleanaway Waste Management Ltd. | 424,105 | 769 | ||||
| Atlas Arteria Ltd. | 202,371 | 691 | ||||
| Steadfast Group Ltd. | 217,370 | 681 | ||||
| Bank of Queensland Ltd. | 127,345 | 634 | ||||
| Ansell Ltd. | 27,041 | 626 | ||||
| Challenger Ltd. | 97,677 | 620 | ||||
| Eagers Automotive Ltd. | 36,006 | 615 | ||||
| Reece Ltd. | 52,191 | 581 | ||||
| * | Liontown Ltd. | 480,173 | 581 | |||
| Sims Ltd. | 33,423 | 522 | ||||
| Netwealth Group Ltd. | 26,718 | 489 | ||||
| National Storage REIT | 237,298 | 469 | ||||
| Harvey Norman Holdings Ltd. | 110,831 | 454 | ||||
| * | Resolute Mining Ltd. | 425,627 | 452 | |||
| Iluka Resources Ltd. | 93,801 | 450 | ||||
| nib holdings Ltd. | 97,605 | 445 | ||||
| 1 | Breville Group Ltd. | 19,589 | 444 | |||
| AMP Ltd. | 478,913 | 442 | ||||
| AUB Group Ltd. | 24,459 | 441 | ||||
| * | Bellevue Gold Ltd. | 310,693 | 413 | |||
| Lendlease Corp. Ltd. | 137,034 | 409 | ||||
| 1 | Pinnacle Investment Management Group Ltd. | 36,387 | 406 | |||
| *,1 | DroneShield Ltd. | 156,506 | 404 | |||
| Reliance Worldwide Corp. Ltd. | 152,041 | 360 | ||||
| * | Telix Pharmaceuticals Ltd. | 47,594 | 344 | |||
| Orora Ltd. | 223,348 | 341 | ||||
| * | Zip Co. Ltd. | 246,499 | 335 | |||
| Region Group | 202,921 | 334 | ||||
| Super Retail Group Ltd. | 28,935 | 319 | ||||
| * | Insignia Financial Ltd. | 93,243 | 310 | |||
| 1 | Flight Centre Travel Group Ltd. | 33,656 | 309 | |||
| * | Judo Capital Holdings Ltd. | 239,546 | 294 | |||
| Perpetual Ltd. | 20,617 | 272 | ||||
| * | IperionX Ltd. | 56,732 | 271 | |||
| * | Predictive Discovery Ltd. | 379,100 | 268 | |||
| Imdex Ltd. | 88,459 | 267 | ||||
| * | Mesoblast Ltd. | 167,076 | 266 | |||
| Champion Iron Ltd. | 69,443 | 265 | ||||
| * | Tuas Ltd. | 57,217 | 262 | |||
| * | Alkane Resources Ltd. | 207,738 | 259 | |||
| * | Catalyst Metals Ltd. | 41,996 | 256 | |||
| * | PEXA Group Ltd. | 23,233 | 248 | |||
| ARB Corp. Ltd. | 13,466 | 246 | ||||
| * | Pantoro Gold Ltd. | 59,697 | 246 | |||
| Deterra Royalties Ltd. | 79,460 | 244 | ||||
| * | Nickel Industries Ltd. | 334,671 | 240 | |||
| Waypoint REIT Ltd. | 126,645 | 230 | ||||
| Bega Cheese Ltd. | 50,775 | 227 | ||||
| Ingenia Communities Group | 67,718 | 220 | ||||
| * | Ora Banda Mining Ltd. | 228,354 | 211 | |||
| EVT Ltd. | 21,129 | 200 | ||||
| *,2 | Corporate Travel Management Ltd. | 21,314 | 195 | |||
| Helia Group Ltd. | 45,416 | 195 | ||||
| Magellan Financial Group Ltd. | 31,342 | 188 | ||||
| Generation Development Group Ltd. | 56,619 | 187 | ||||
| Centuria Capital Group | 138,359 | 186 | ||||
| Premier Investments Ltd. | 19,392 | 185 | ||||
| Lovisa Holdings Ltd. | 10,801 | 184 | ||||
| Nine Entertainment Co. Holdings Ltd. | 244,376 | 183 | ||||
| Nick Scali Ltd. | 13,793 | 183 | ||||
| Regis Healthcare Ltd. | 36,717 | 182 | ||||
| TPG Telecom Ltd. | 64,488 | 181 | ||||
| * | Neuren Pharmaceuticals Ltd. | 19,550 | 181 | |||
| * | Develop Global Ltd. | 43,995 | 181 | |||
| SRG Global Ltd. | 86,973 | 180 | ||||
| GQG Partners Inc. | 135,914 | 178 | ||||
| * | Superloop Ltd. | 82,635 | 173 | |||
| * | Megaport Ltd. | 27,044 | 169 | |||
| Domino's Pizza Enterprises Ltd. | 11,575 | 167 | ||||
| IRESS Ltd. | 31,279 | 166 | ||||
2
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 1 | IDP Education Ltd. | 49,279 | 163 | |||
| * | Clarity Pharmaceuticals Ltd. | 63,681 | 163 | |||
| GrainCorp Ltd. Class A | 36,766 | 161 | ||||
| Arena REIT | 65,368 | 159 | ||||
| * | Elevra Lithium Ltd. | 27,423 | 159 | |||
| Elders Ltd. | 30,681 | 158 | ||||
| DigiCo Infrastructure REIT | 107,352 | 157 | ||||
| Aussie Broadband Ltd. | 43,340 | 156 | ||||
| Service Stream Ltd. | 100,376 | 149 | ||||
| Amotiv Ltd. | 26,201 | 147 | ||||
| * | WEB Travel Group Ltd. | 63,155 | 145 | |||
| * | Vulcan Energy Resources Ltd. | 53,270 | 142 | |||
| Data#3 Ltd. | 28,225 | 140 | ||||
| Regal Partners Ltd. | 59,608 | 137 | ||||
| Collins Foods Ltd. | 18,922 | 135 | ||||
| * | Macquarie Technology Group Ltd. | 2,729 | 132 | |||
| SmartGroup Corp. Ltd. | 20,928 | 131 | ||||
| Supply Network Ltd. | 5,115 | 129 | ||||
| *,1 | Weebit Nano Ltd. | 36,213 | 128 | |||
| * | St. Barbara Ltd. | 197,269 | 117 | |||
| McMillan Shakespeare Ltd. | 10,201 | 117 | ||||
| Kelsian Group Ltd. | 35,229 | 113 | ||||
| * | Virgin Australia Holdings Ltd. | 49,557 | 111 | |||
| * | SiteMinder Ltd. | 43,096 | 110 | |||
| Hansen Technologies Ltd. | 28,987 | 109 | ||||
| Credit Corp. Group Ltd. | 12,355 | 107 | ||||
| * | Nanosonics Ltd. | 44,114 | 107 | |||
| 1 | IPH Ltd. | 41,930 | 107 | |||
| HMC Capital Ltd. | 52,528 | 104 | ||||
| Maas Group Holdings Ltd. | 30,682 | 104 | ||||
| Integral Diagnostics Ltd. | 59,376 | 103 | ||||
| * | Temple & Webster Group Ltd. | 17,644 | 103 | |||
| Dicker Data Ltd. | 14,345 | 102 | ||||
| 1 | PWR Holdings Ltd. | 14,246 | 102 | |||
| Abacus Storage King | 94,924 | 101 | ||||
| EQT Holdings Ltd. | 6,374 | 99 | ||||
| * | Nufarm Ltd. | 64,720 | 95 | |||
| Ridley Corp. Ltd. | 44,046 | 90 | ||||
| 1 | Inghams Group Ltd. | 60,750 | 89 | |||
| MyState Ltd. | 27,556 | 89 | ||||
| * | Catapult Sports Ltd. | 34,282 | 87 | |||
| * | Chalice Mining Ltd. | 62,487 | 86 | |||
| *,2 | Opthea Ltd. | 206,684 | 79 | |||
| Bravura Solutions Ltd. | 53,055 | 78 | ||||
| *,1 | Lifestyle Communities Ltd. | 22,116 | 78 | |||
| * | PolyNovo Ltd. | 112,097 | 77 | |||
| Redox Ltd. | 32,916 | 75 | ||||
| * | Select Harvests Ltd. | 25,758 | 74 | |||
| Vulcan Steel Ltd. | 14,292 | 73 | ||||
| Cromwell Property Group | 226,840 | 72 | ||||
| * | Alpha HPA Ltd. | 153,263 | 71 | |||
| Navigator Global Investments Ltd. | 37,558 | 68 | ||||
| L1 Group Ltd. | 76,294 | 67 | ||||
| Cedar Woods Properties Ltd. | 9,980 | 64 | ||||
| GWA Group Ltd. | 36,940 | 63 | ||||
| * | Myer Holdings Ltd. | 235,996 | 63 | |||
| oOh!media Ltd. | 87,015 | 63 | ||||
| Australian Ethical Investment Ltd. | 16,735 | 62 | ||||
| Clinuvel Pharmaceuticals Ltd. | 8,461 | 60 | ||||
| FleetPartners Group Ltd. | 30,424 | 57 | ||||
| * | Fineos Corp. Ltd. | 30,713 | 56 | |||
| * | Aurelia Metals Ltd. | 245,205 | 53 | |||
| * | Wildcat Resources Ltd. | 157,634 | 53 | |||
| Healius Ltd. | 107,388 | 52 | ||||
| GDI Property Group Partnership | 115,508 | 52 | ||||
| * | Nuix Ltd. | 38,378 | 52 | |||
| * | Oceania Healthcare Ltd. | 101,609 | 51 | |||
| Abacus Group | 66,117 | 51 | ||||
| Growthpoint Properties Australia Ltd. | 31,461 | 50 | ||||
| * | Tyro Payments Ltd. | 78,187 | 49 | |||
3
ESG International Stock ETF
4
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Azelis Group NV | 32,923 | 328 | ||||
| Fagron | 10,260 | 276 | ||||
| Gimv NV | 4,646 | 257 | ||||
| Xior Student Housing NV | 7,032 | 249 | ||||
| Colruyt Group NV | 5,457 | 222 | ||||
| Proximus SADP | 23,331 | 192 | ||||
| Shurgard Self Storage Ltd. | 5,680 | 187 | ||||
| Retail Estates NV | 2,078 | 169 | ||||
| Barco NV | 12,004 | 154 | ||||
| * | Vastned NV | 2,068 | 76 | |||
| Kinepolis Group NV | 2,277 | 73 | ||||
| * | bpost SA | 17,822 | 45 | |||
| * | Ontex Group NV | 8,272 | 45 | |||
| 42,731 | ||||||
| Brazil (0.6%) | ||||||
| B3 SA - Brasil Bolsa Balcao | 1,044,186 | 3,646 | ||||
| Banco BTG Pactual SA | 244,117 | 2,917 | ||||
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 92,628 | 2,781 | ||||
| Banco do Brasil SA | 339,731 | 1,786 | ||||
| Localiza Rent a Car SA | 174,070 | 1,723 | ||||
| Equatorial SA | 201,961 | 1,659 | ||||
| 3 | Rede D'Or Sao Luiz SA | 194,800 | 1,531 | |||
| Suzano SA | 132,572 | 1,500 | ||||
| Raia Drogasil SA | 261,041 | 1,277 | ||||
| Telefonica Brasil SA | 147,536 | 1,243 | ||||
| Banco Bradesco SA | 296,835 | 1,064 | ||||
| Itau Unibanco Holding SA | 109,015 | 927 | ||||
| BB Seguridade Participacoes SA | 132,000 | 893 | ||||
| TIM SA | 158,800 | 864 | ||||
| TOTVS SA | 106,435 | 786 | ||||
| Rumo SA | 251,899 | 785 | ||||
| Motiva Infraestrutura de Mobilidade SA | 238,058 | 773 | ||||
| MBRF Global Foods Co. SA | 164,620 | 664 | ||||
| Energisa SA | 60,205 | 632 | ||||
| Klabin SA | 157,566 | 632 | ||||
| Lojas Renner SA | 196,286 | 596 | ||||
| * | Cia De Sanena Do Parana | 59,700 | 525 | |||
| Banco Santander Brasil SA | 79,232 | 518 | ||||
| Sendas Distribuidora SA | 281,589 | 513 | ||||
| Allos SA | 78,724 | 502 | ||||
| * | Multiplan Empreendimentos Imobiliarios SA | 68,415 | 470 | |||
| Smartfit Escola de Ginastica e Danca SA | 112,419 | 443 | ||||
| Caixa Seguridade Participacoes SA | 125,500 | 435 | ||||
| Transmissora Alianca de Energia Eletrica SA | 48,700 | 420 | ||||
| Alupar Investimento SA | 59,266 | 413 | ||||
| Cia de Saneamento de Minas Gerais Copasa MG | 36,200 | 386 | ||||
| Porto Seguro SA | 37,200 | 380 | ||||
| * | Natura Cosmeticos SA | 189,987 | 338 | |||
| 3 | GPS Participacoes e Empreendimentos SA | 85,600 | 307 | |||
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | 49,100 | 294 | ||||
| Iguatemi SA | 47,682 | 272 | ||||
| Cogna Educacao SA | 361,790 | 247 | ||||
| * | Hypera SA | 54,600 | 246 | |||
| Direcional Engenharia SA | 65,631 | 209 | ||||
| * | Cia Siderurgica Nacional SA | 107,634 | 181 | |||
| * | MRV Engenharia e Participacoes SA | 87,400 | 175 | |||
| Cury Construtora e Incorporadora SA | 22,200 | 168 | ||||
| Fleury SA | 49,499 | 162 | ||||
| * | Orizon Valorizacao de Residuos SA | 9,900 | 143 | |||
| *,3 | Hapvida Participacoes e Investimentos SA | 68,884 | 141 | |||
| Auren Energia SA | 58,032 | 134 | ||||
| Odontoprev SA | 44,610 | 127 | ||||
| Magazine Luiza SA | 69,038 | 126 | ||||
| Vivara Participacoes SA | 20,700 | 126 | ||||
| * | IRB-Brasil Resseguros SA | 10,336 | 125 | |||
| SLC Agricola SA | 37,372 | 120 | ||||
| Azzas 2154 SA | 23,182 | 118 | ||||
| EcoRodovias Infraestrutura e Logistica SA | 56,200 | 117 | ||||
| JHSF Participacoes SA | 60,400 | 117 | ||||
5
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| YDUQS Participacoes SA | 43,200 | 112 | ||||
| Fundo De Investimento Imobiliario VBI Prime Properties | 7,268 | 111 | ||||
| BrasilAgro - Co. Brasileira de Propriedades Agricolas | 24,900 | 104 | ||||
| * | Hidrovias do Brasil SA | 123,387 | 101 | |||
| Fras-Le SA | 20,300 | 97 | ||||
| M Dias Branco SA | 20,900 | 95 | ||||
| Sao Martinho SA | 26,300 | 92 | ||||
| Minerva SA | 90,269 | 92 | ||||
| Cia Energetica de Minas Gerais | 29,161 | 89 | ||||
| Grupo Mateus SA | 78,300 | 87 | ||||
| Vulcabras SA | 23,432 | 87 | ||||
| CSN Mineracao SA | 81,400 | 86 | ||||
| C&A Modas SA | 32,500 | 82 | ||||
| Dexco SA | 73,492 | 78 | ||||
| Mills Locacao Servicos e Logistica SA | 26,000 | 77 | ||||
| Tres Tentos Agroindustrial SA | 22,400 | 75 | ||||
| Mahle Metal Leve SA | 10,300 | 73 | ||||
| SIMPAR SA | 29,150 | 72 | ||||
| * | Oncoclinicas do Brasil Servicos Medicos SA | 139,300 | 72 | |||
| * | Cia Brasileira de Aluminio | 33,669 | 67 | |||
| * | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 75,893 | 65 | |||
| Ez Tec Empreendimentos e Participacoes SA | 18,056 | 56 | ||||
| LOG Commercial Properties e Participacoes SA | 10,167 | 56 | ||||
| Grendene SA | 53,800 | 53 | ||||
| Grupo SBF SA | 18,500 | 46 | ||||
| Intelbras SA Industria de Telecomunicacao Eletronica Brasileira | 15,600 | 43 | ||||
| * | CVC Brasil Operadora e Agencia de Viagens SA | 94,110 | 42 | |||
| * | Tupy SA | 15,400 | 41 | |||
| 3 | LWSA SA | 54,200 | 38 | |||
| * | Cia Brasileira de Distribuicao | 59,679 | 36 | |||
| * | Log-in Logistica Intermodal SA | 5,800 | 36 | |||
| Iochpe Maxion SA | 16,900 | 35 | ||||
| * | Uniao Pet Participacoes SA | 57,300 | 34 | |||
| * | Banco ABC Brasil SA | 1,685 | 9 | |||
| * | Azul SA | 169,763 | — | |||
| 40,016 | ||||||
| Canada (6.4%) | ||||||
| Royal Bank of Canada | 281,569 | 47,079 | ||||
| * | Shopify Inc. Class A (XNYS) | 240,504 | 29,034 | |||
| Agnico Eagle Mines Ltd. | 99,633 | 25,026 | ||||
| Bank of Montreal | 143,237 | 20,614 | ||||
| Canadian Imperial Bank of Commerce | 186,418 | 18,831 | ||||
| Bank of Nova Scotia | 247,692 | 18,791 | ||||
| Wheaton Precious Metals Corp. | 90,379 | 14,727 | ||||
| Manulife Financial Corp. | 340,289 | 12,117 | ||||
| National Bank of Canada | 77,504 | 10,817 | ||||
| Kinross Gold Corp. | 240,906 | 8,905 | ||||
| Waste Connections Inc. | 50,517 | 8,693 | ||||
| Dollarama Inc. | 52,745 | 7,765 | ||||
| Fairfax Financial Holdings Ltd. | 4,393 | 7,561 | ||||
| Sun Life Financial Inc. | 112,105 | 7,347 | ||||
| Nutrien Ltd. | 97,316 | 7,319 | ||||
| Intact Financial Corp. | 35,513 | 6,856 | ||||
| * | Celestica Inc. | 22,837 | 6,342 | |||
| Pan American Silver Corp. | 83,271 | 5,713 | ||||
| Teck Resources Ltd. Class B | 96,042 | 5,641 | ||||
| Power Corp. of Canada | 106,692 | 5,359 | ||||
| Loblaw Cos. Ltd. | 110,685 | 5,130 | ||||
| Restaurant Brands International Inc. | 64,259 | 4,610 | ||||
| Alamos Gold Inc. Class A | 84,109 | 4,559 | ||||
| Lundin Mining Corp. | 136,791 | 4,358 | ||||
| * | First Quantum Minerals Ltd. | 135,407 | 4,054 | |||
| RB Global Inc. | 36,941 | 3,721 | ||||
| Brookfield Asset Management Ltd. Class A | 76,188 | 3,557 | ||||
| Magna International Inc. | 53,438 | 3,370 | ||||
| 1 | First Majestic Silver Corp. | 90,058 | 2,881 | |||
| CGI Inc. | 39,069 | 2,857 | ||||
| Metro Inc. Class A | 39,564 | 2,819 | ||||
| * | Equinox Gold Corp. | 147,888 | 2,776 | |||
6
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Thomson Reuters Corp. | 27,642 | 2,661 | ||||
| 3 | Hydro One Ltd. | 61,169 | 2,629 | |||
| * | IAMGOLD Corp. (XTSE) | 106,546 | 2,621 | |||
| 1 | Great-West Lifeco Inc. | 53,418 | 2,581 | |||
| Toromont Industries Ltd. | 16,319 | 2,533 | ||||
| Gildan Activewear Inc. | 36,233 | 2,470 | ||||
| GFL Environmental Inc. | 52,745 | 2,331 | ||||
| George Weston Ltd. | 30,984 | 2,274 | ||||
| Hudbay Minerals Inc. | 77,386 | 2,193 | ||||
| iA Financial Corp. Inc. | 18,973 | 2,158 | ||||
| OceanaGold Corp. | 46,503 | 1,978 | ||||
| Element Fleet Management Corp. | 80,883 | 1,927 | ||||
| Eldorado Gold Corp. | 40,999 | 1,904 | ||||
| TMX Group Ltd. | 55,893 | 1,885 | ||||
| Lundin Gold Inc. | 19,824 | 1,869 | ||||
| * | Ivanhoe Mines Ltd. Class A | 158,451 | 1,812 | |||
| OR Royalties Inc. | 35,626 | 1,688 | ||||
| * | Aritzia Inc. | 18,851 | 1,669 | |||
| BCE Inc. | 62,708 | 1,648 | ||||
| B2Gold Corp. | 259,043 | 1,591 | ||||
| Saputo Inc. | 49,607 | 1,583 | ||||
| TELUS Corp. | 101,437 | 1,391 | ||||
| * | Capstone Copper Corp. | 133,947 | 1,386 | |||
| * | New Gold Inc. | 99,025 | 1,330 | |||
| FirstService Corp. | 8,361 | 1,317 | ||||
| * | SSR Mining Inc. | 40,244 | 1,294 | |||
| Open Text Corp. | 50,074 | 1,240 | ||||
| DPM Metals Inc. | 27,956 | 1,210 | ||||
| Brookfield Renewable Corp. | 28,043 | 1,197 | ||||
| Torex Gold Resources Inc. | 19,108 | 1,164 | ||||
| * | Descartes Systems Group Inc. | 17,526 | 1,159 | |||
| Colliers International Group Inc. | 9,149 | 1,085 | ||||
| Boyd Group Inc. | 5,501 | 960 | ||||
| Definity Financial Corp. | 19,143 | 958 | ||||
| Chartwell Retirement Residences | 57,983 | 945 | ||||
| * | G Mining Ventures Corp. | 22,714 | 930 | |||
| Canadian Apartment Properties REIT | 31,955 | 884 | ||||
| RioCan REIT | 58,875 | 852 | ||||
| Centerra Gold Inc. | 40,193 | 845 | ||||
| IGM Financial Inc. | 16,471 | 819 | ||||
| Granite REIT | 12,140 | 819 | ||||
| Orla Mining Ltd. | 37,846 | 819 | ||||
| Onex Corp. | 10,859 | 807 | ||||
| * | Novagold Resources Inc. | 57,026 | 761 | |||
| * | K92 Mining Inc. | 30,630 | 738 | |||
| Stella-Jones Inc. | 10,636 | 730 | ||||
| West Fraser Timber Co. Ltd. | 10,908 | 724 | ||||
| Methanex Corp. | 13,942 | 703 | ||||
| First Capital REIT | 40,764 | 639 | ||||
| Premium Brands Holdings Corp. | 8,189 | 636 | ||||
| Choice Properties REIT | 53,535 | 622 | ||||
| SmartCentres REIT | 27,228 | 554 | ||||
| * | Kinaxis Inc. | 5,709 | 542 | |||
| * | Fortuna Mining Corp. | 39,025 | 533 | |||
| Dream Industrial REIT | 54,427 | 530 | ||||
| * | Discovery Silver Corp. | 63,474 | 524 | |||
| * | Endeavour Silver Corp. | 37,068 | 516 | |||
| Linamar Corp. | 7,317 | 504 | ||||
| Sprott Inc. | 2,982 | 484 | ||||
| * | Skeena Resources Ltd. | 12,558 | 479 | |||
| BRP Inc. | 6,490 | 476 | ||||
| Quebecor Inc. Class B | 11,391 | 471 | ||||
| * | Galaxy Digital Inc. Class A | 21,840 | 449 | |||
| * | Seabridge Gold Inc. | 11,369 | 448 | |||
| * | ERO Copper Corp. | 12,373 | 423 | |||
| * | BlackBerry Ltd. | 123,624 | 420 | |||
| Boralex Inc. Class A | 20,104 | 409 | ||||
| * | Air Canada | 26,691 | 404 | |||
| North West Co. Inc. | 9,834 | 404 | ||||
| * | NGEx Minerals Ltd. | 17,499 | 404 | |||
7
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Perpetua Resources Corp. | 10,685 | 394 | |||
| H&R REIT | 51,400 | 393 | ||||
| * | Wesdome Gold Mines Ltd. | 19,549 | 384 | |||
| Boardwalk REIT | 7,880 | 378 | ||||
| * | Allied Gold Corp. | 11,448 | 362 | |||
| Triple Flag Precious Metals Corp. | 8,093 | 335 | ||||
| * | Bausch Health Cos. Inc. | 53,205 | 316 | |||
| EQB Inc. | 3,583 | 303 | ||||
| Primaris REIT | 20,999 | 281 | ||||
| Maple Leaf Foods Inc. | 13,215 | 272 | ||||
| Allied Properties REIT | 33,782 | 236 | ||||
| * | Lightspeed Commerce Inc. | 25,115 | 227 | |||
| Sienna Senior Living Inc. | 13,215 | 227 | ||||
| * | Trisura Group Ltd. | 6,348 | 217 | |||
| Transcontinental Inc. Class A | 12,652 | 216 | ||||
| Labrador Iron Ore Royalty Corp. | 9,324 | 213 | ||||
| Killam Apartment REIT | 15,665 | 194 | ||||
| Altus Group Ltd. | 5,566 | 191 | ||||
| Pet Valu Holdings Ltd. | 9,124 | 191 | ||||
| Brookfield Wealth Solutions Ltd. | 4,058 | 180 | ||||
| * | IAMGOLD Corp. | 6,994 | 172 | |||
| * | NFI Group Inc. | 13,713 | 171 | |||
| Winpak Ltd. | 4,658 | 165 | ||||
| InterRent REIT | 15,317 | 150 | ||||
| OR Royalties Inc. (XNYS) | 2,950 | 140 | ||||
| goeasy Ltd. | 1,743 | 137 | ||||
| Cargojet Inc. | 1,723 | 121 | ||||
| Cogeco Communications Inc. | 1,924 | 102 | ||||
| Crombie REIT | 8,344 | 100 | ||||
| * | Canfor Corp. | 9,348 | 94 | |||
| Enghouse Systems Ltd. | 7,004 | 91 | ||||
| Brookfield Business Corp. Class A | 2,452 | 84 | ||||
| CT REIT | 6,400 | 81 | ||||
| * | Shopify Inc. Class A (XTSE) | 618 | 75 | |||
| Leon's Furniture Ltd. | 3,606 | 75 | ||||
| Canada Packers Inc. | 2,792 | 39 | ||||
| 408,479 | ||||||
| Chile (0.2%) | ||||||
| Banco de Chile | 8,924,475 | 1,841 | ||||
| Latam Airlines Group SA | 49,323,257 | 1,386 | ||||
| Falabella SA | 167,395 | 1,244 | ||||
| Banco Santander Chile | 12,298,228 | 1,056 | ||||
| Banco de Credito e Inversiones SA | 15,307 | 1,049 | ||||
| Cencosud SA | 259,810 | 812 | ||||
| Plaza SA | 155,424 | 727 | ||||
| Parque Arauco SA | 137,113 | 651 | ||||
| Empresas CMPC SA | 210,252 | 312 | ||||
| * | Sociedad Quimica y Minera de Chile SA ADR | 4,041 | 308 | |||
| Banco Itau Chile SA | 12,125 | 290 | ||||
| Cencosud Shopping SA | 97,075 | 281 | ||||
| Quinenco SA | 55,260 | 279 | ||||
| Latam Airlines Group SA ADR | 4,808 | 270 | ||||
| Aguas Andinas SA Class A | 454,340 | 192 | ||||
| Inversiones La Construccion SA | 6,433 | 149 | ||||
| Cia Sud Americana de Vapores SA | 2,396,137 | 130 | ||||
| Empresa Nacional de Telecomunicaciones SA | 25,073 | 112 | ||||
| Inversiones Aguas Metropolitanas SA | 92,974 | 111 | ||||
| SMU SA | 586,387 | 103 | ||||
| * | CAP SA | 12,470 | 102 | |||
| Ripley Corp. SA | 158,688 | 80 | ||||
| SONDA SA | 95,307 | 33 | ||||
| 11,518 | ||||||
| China (7.7%) | ||||||
| Alibaba Group Holding Ltd. | 3,570,400 | 64,613 | ||||
| China Construction Bank Corp. Class H | 17,451,000 | 17,755 | ||||
| * | PDD Holdings Inc. ADR | 151,889 | 15,755 | |||
| *,3 | Xiaomi Corp. Class B | 3,432,400 | 15,181 | |||
| Industrial & Commercial Bank of China Ltd. Class H | 15,947,000 | 13,116 | ||||
| Ping An Insurance Group Co. of China Ltd. Class H | 1,301,500 | 11,259 | ||||
8
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| *,3 | Meituan Class B | 1,061,055 | 10,926 | |||
| BYD Co. Ltd. Class H | 735,500 | 8,867 | ||||
| NetEase Inc. | 363,815 | 8,195 | ||||
| Bank of China Ltd. Class H | 13,576,000 | 8,034 | ||||
| JD.com Inc. Class A | 504,303 | 6,695 | ||||
| Trip.com Group Ltd. | 118,548 | 6,152 | ||||
| China Life Insurance Co. Ltd. Class H | 1,487,000 | 5,965 | ||||
| China Merchants Bank Co. Ltd. Class H | 754,000 | 4,690 | ||||
| 3 | Kuaishou Technology | 555,300 | 4,403 | |||
| Agricultural Bank of China Ltd. Class H | 6,201,000 | 4,199 | ||||
| 3 | Pop Mart International Group Ltd. | 133,800 | 3,937 | |||
| * | BeOne Medicines Ltd. Class H | 156,100 | 3,854 | |||
| Yum China Holdings Inc. (XHKG) | 67,750 | 3,748 | ||||
| *,3 | Wuxi Biologics Cayman Inc. | 695,737 | 3,572 | |||
| *,3 | Innovent Biologics Inc. | 321,500 | 3,498 | |||
| Contemporary Amperex Technology Co. Ltd. Class A | 60,929 | 3,031 | ||||
| PICC Property & Casualty Co. Ltd. Class H | 1,382,000 | 2,852 | ||||
| China Hongqiao Group Ltd. | 622,500 | 2,808 | ||||
| ANTA Sports Products Ltd. | 251,400 | 2,720 | ||||
| Geely Automobile Holdings Ltd. Class A | 1,251,900 | 2,574 | ||||
| * | XPeng Inc. Class A | 292,400 | 2,563 | |||
| China Resources Land Ltd. | 587,000 | 2,372 | ||||
| China Pacific Insurance Group Co. Ltd. Class H | 514,000 | 2,353 | ||||
| CMOC Group Ltd. Class H | 717,000 | 2,206 | ||||
| 3 | Nongfu Spring Co. Ltd. Class H | 362,600 | 2,188 | |||
| H World Group Ltd. | 391,930 | 2,164 | ||||
| 1 | ZTO Express Cayman Inc. | 88,550 | 2,138 | |||
| * | Li Auto Inc. Class A | 241,436 | 2,120 | |||
| KE Holdings Inc. ADR | 126,036 | 2,073 | ||||
| CSPC Pharmaceutical Group Ltd. | 1,605,280 | 2,021 | ||||
| *,3 | Akeso Inc. | 138,000 | 1,880 | |||
| *,1,3 | SenseTime Group Inc. Class B | 5,611,000 | 1,832 | |||
| * | Horizon Robotics | 1,714,200 | 1,798 | |||
| * | NIO Inc. Class A | 353,825 | 1,749 | |||
| New Oriental Education & Technology Group Inc. | 311,990 | 1,716 | ||||
| Yangzijiang Shipbuilding Holdings Ltd. | 500,100 | 1,709 | ||||
| *,3 | Hua Hong Semiconductor Ltd. Class H | 136,757 | 1,685 | |||
| China CITIC Bank Corp. Ltd. Class H | 1,800,000 | 1,656 | ||||
| China Merchants Bank Co. Ltd. Class A | 288,481 | 1,629 | ||||
| Weichai Power Co. Ltd. Class H | 389,000 | 1,619 | ||||
| Haier Smart Home Co. Ltd. Class H | 472,000 | 1,603 | ||||
| * | Bilibili Inc. | 57,083 | 1,593 | |||
| * | J&T Global Express Ltd. | 1,176,400 | 1,542 | |||
| *,3 | JD Health International Inc. | 210,600 | 1,524 | |||
| Full Truck Alliance Co. Ltd. ADR | 162,047 | 1,520 | ||||
| Sino Biopharmaceutical Ltd. | 1,965,000 | 1,515 | ||||
| Zhaojin Mining Industry Co. Ltd. Class H | 336,500 | 1,483 | ||||
| People's Insurance Co. Group of China Ltd. Class H | 1,795,000 | 1,466 | ||||
| New China Life Insurance Co. Ltd. Class H | 201,400 | 1,417 | ||||
| China Overseas Land & Investment Ltd. | 757,000 | 1,383 | ||||
| Li Ning Co. Ltd. | 479,678 | 1,374 | ||||
| 3 | China Tower Corp. Ltd. Class H | 947,900 | 1,349 | |||
| Ping An Insurance Group Co. of China Ltd. Class A | 145,970 | 1,342 | ||||
| 3 | WuXi AppTec Co. Ltd. Class H | 87,936 | 1,335 | |||
| China Yangtze Power Co. Ltd. Class A | 343,690 | 1,305 | ||||
| Foxconn Industrial Internet Co. Ltd. Class A | 160,000 | 1,294 | ||||
| China Gold International Resources Corp. Ltd. | 49,300 | 1,291 | ||||
| Bank of Communications Co. Ltd. Class H | 1,440,000 | 1,260 | ||||
| Hygon Information Technology Co. Ltd. Class A | 32,835 | 1,246 | ||||
| China Mengniu Dairy Co. Ltd. | 593,120 | 1,222 | ||||
| 3 | Postal Savings Bank of China Co. Ltd. Class H | 1,917,000 | 1,206 | |||
| Zhongji Innolight Co. Ltd. Class A | 15,400 | 1,193 | ||||
| 3 | Guotai Haitong Securities Co. Ltd. Class H | 581,904 | 1,185 | |||
| CITIC Securities Co. Ltd. Class H | 329,537 | 1,180 | ||||
| Jiangxi Copper Co. Ltd. Class H | 197,000 | 1,143 | ||||
| Agricultural Bank of China Ltd. Class A | 1,216,100 | 1,135 | ||||
| 3 | Fuyao Glass Industry Group Co. Ltd. Class H | 132,400 | 1,099 | |||
| Industrial & Commercial Bank of China Ltd. Class A | 1,041,375 | 1,051 | ||||
| COSCO SHIPPING Holdings Co. Ltd. Class H | 540,900 | 1,050 | ||||
| 3 | Hansoh Pharmaceutical Group Co. Ltd. | 232,000 | 1,033 | |||
9
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 1 | Contemporary Amperex Technology Co. Ltd. Class H | 16,300 | 1,030 | |||
| Sunny Optical Technology Group Co. Ltd. | 137,400 | 1,016 | ||||
| Kanzhun Ltd. ADR | 62,732 | 1,009 | ||||
| * | Cambricon Technologies Corp. Ltd. Class A | 5,887 | 1,009 | |||
| 3 | 3SBio Inc. | 356,500 | 1,005 | |||
| BYD Co. Ltd. Class A | 73,200 | 951 | ||||
| China Galaxy Securities Co. Ltd. Class H | 750,000 | 947 | ||||
| 3 | Shandong Gold Mining Co. Ltd. Class H | 179,100 | 945 | |||
| 3 | China International Capital Corp. Ltd. Class H | 356,000 | 917 | |||
| * | GDS Holdings Ltd. Class A | 170,941 | 886 | |||
| CMOC Group Ltd. Class A | 247,500 | 865 | ||||
| * | TAL Education Group ADR | 81,411 | 857 | |||
| * | Alibaba Health Information Technology Ltd. | 1,184,000 | 842 | |||
| China Taiping Insurance Holdings Co. Ltd. | 287,800 | 838 | ||||
| * | GCL Technology Holdings Ltd. | 5,453,000 | 834 | |||
| * | UBTech Robotics Corp. Ltd. Class H | 53,300 | 823 | |||
| Vipshop Holdings Ltd. ADR | 46,974 | 818 | ||||
| *,1 | XtalPi Holdings Ltd. | 608,000 | 802 | |||
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A | 97,110 | 799 | ||||
| Industrial Bank Co. Ltd. Class A | 293,300 | 783 | ||||
| Minth Group Ltd. | 138,000 | 771 | ||||
| East Money Information Co. Ltd. Class A | 234,700 | 770 | ||||
| 3 | China Resources Mixc Lifestyle Services Ltd. | 126,000 | 764 | |||
| Great Wall Motor Co. Ltd. Class H | 461,000 | 755 | ||||
| China Minsheng Banking Corp. Ltd. Class H | 1,457,000 | 753 | ||||
| 3 | Ganfeng Lithium Group Co. Ltd. Class H | 84,800 | 743 | |||
| * | Kingdee International Software Group Co. Ltd. | 573,000 | 735 | |||
| Sinotruk Hong Kong Ltd. | 139,000 | 732 | ||||
| Bank of Communications Co. Ltd. Class A | 738,300 | 705 | ||||
| Luxshare Precision Industry Co. Ltd. Class A | 95,614 | 698 | ||||
| Sinopharm Group Co. Ltd. Class H | 258,500 | 697 | ||||
| Kingsoft Corp. Ltd. | 207,800 | 690 | ||||
| Shanghai Pudong Development Bank Co. Ltd. Class A | 478,800 | 678 | ||||
| Atour Lifestyle Holdings Ltd. ADR | 17,115 | 672 | ||||
| Tongcheng Travel Holdings Ltd. | 252,400 | 665 | ||||
| NAURA Technology Group Co. Ltd. Class A | 9,458 | 650 | ||||
| * | WuXi XDC Cayman Inc. | 80,470 | 650 | |||
| Tingyi Cayman Islands Holding Corp. | 378,000 | 631 | ||||
| China National Building Material Co. Ltd. Class H | 719,332 | 624 | ||||
| CITIC Securities Co. Ltd. Class A | 154,251 | 615 | ||||
| Wanhua Chemical Group Co. Ltd. Class A | 44,600 | 604 | ||||
| Kingboard Holdings Ltd. | 116,500 | 602 | ||||
| BYD Electronic International Co. Ltd. | 146,500 | 601 | ||||
| Suzhou TFC Optical Communication Co. Ltd. Class A | 11,100 | 594 | ||||
| Bank of China Ltd. Class A | 763,200 | 588 | ||||
| 1 | Wanguo Gold Group Ltd. | 255,500 | 585 | |||
| Sungrow Power Supply Co. Ltd. Class A | 27,785 | 584 | ||||
| China Railway Group Ltd. Class H | 855,000 | 566 | ||||
| *,1 | China Ruyi Holdings Ltd. | 2,172,000 | 564 | |||
| 1,3 | Huatai Securities Co. Ltd. Class H | 262,800 | 562 | |||
| China Pacific Insurance Group Co. Ltd. Class A | 93,500 | 556 | ||||
| * | Hesai Group ADR | 20,404 | 550 | |||
| *,3 | JD Logistics Inc. | 385,800 | 548 | |||
| Muyuan Foods Co. Ltd. Class A | 79,612 | 545 | ||||
| Bosideng International Holdings Ltd. | 878,000 | 544 | ||||
| 3 | Longfor Group Holdings Ltd. | 426,800 | 540 | |||
| CRRC Corp. Ltd. Class H | 728,000 | 539 | ||||
| Guotai Haitong Securities Co. Ltd. | 194,686 | 538 | ||||
| 1 | ZTE Corp. Class H | 153,600 | 532 | |||
| Victory Giant Technology Huizhou Co. Ltd. Class A | 12,000 | 532 | ||||
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A | 18,887 | 512 | ||||
| Dongyue Group Ltd. | 285,000 | 510 | ||||
| XD Inc. | 53,400 | 502 | ||||
| * | Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. Class H | 10,100 | 498 | |||
| Zhuzhou CRRC Times Electric Co. Ltd. Class H | 85,100 | 482 | ||||
| Weichai Power Co. Ltd. Class A | 117,465 | 477 | ||||
| WuXi AppTec Co. Ltd. Class A | 33,264 | 476 | ||||
| 3 | Meitu Inc. | 660,500 | 476 | |||
| Far East Horizon Ltd. | 477,000 | 471 | ||||
| Sany Heavy Equipment International Holdings Co. Ltd. | 234,000 | 471 | ||||
10
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| China Medical System Holdings Ltd. | 253,000 | 470 | ||||
| Kingboard Laminates Holdings Ltd. | 153,500 | 463 | ||||
| *,1 | Kingsoft Cloud Holdings Ltd. | 507,310 | 461 | |||
| Hengan International Group Co. Ltd. | 122,500 | 456 | ||||
| Advanced Micro-Fabrication Equipment Inc. China Class A | 8,872 | 456 | ||||
| GF Securities Co. Ltd. Class H | 207,000 | 455 | ||||
| Ping An Bank Co. Ltd. Class A | 280,800 | 446 | ||||
| 1 | Zoomlion Heavy Industry Science & Technology Co. Ltd. Class H | 331,600 | 442 | |||
| MINISO Group Holding Ltd. | 96,352 | 437 | ||||
| China Everbright Environment Group Ltd. | 667,000 | 436 | ||||
| * | Zai Lab Ltd. | 226,770 | 430 | |||
| Bank of Ningbo Co. Ltd. Class A | 91,200 | 416 | ||||
| 3 | China Feihe Ltd. | 855,000 | 415 | |||
| 1,3 | Giant Biogene Holding Co. Ltd. | 100,400 | 409 | |||
| Seres Group Co. Ltd. Class A | 26,000 | 407 | ||||
| Xinyi Solar Holdings Ltd. | 922,000 | 406 | ||||
| Shandong Gold Mining Co. Ltd. Class A | 58,160 | 403 | ||||
| *,3 | China CITIC Financial Asset Management Co. Ltd. Class H | 3,699,000 | 401 | |||
| China Tourism Group Duty Free Corp. Ltd. Class A | 34,123 | 401 | ||||
| GigaDevice Semiconductor Inc. Class A | 8,800 | 384 | ||||
| *,3 | ZhongAn Online P&C Insurance Co. Ltd. Class H | 191,400 | 374 | |||
| CRRC Corp. Ltd. Class A | 403,115 | 369 | ||||
| * | Nine Dragons Paper Holdings Ltd. | 324,000 | 364 | |||
| China Cinda Asset Management Co. Ltd. Class H | 2,261,000 | 363 | ||||
| *,3 | NetEase Cloud Music Inc. | 18,400 | 363 | |||
| Shenzhen Inovance Technology Co. Ltd. Class A | 34,095 | 362 | ||||
| Haitian International Holdings Ltd. | 111,000 | 359 | ||||
| Inner Mongolia Yili Industrial Group Co. Ltd. Class A | 94,500 | 359 | ||||
| China Construction Bank Corp. Class A | 282,500 | 354 | ||||
| *,3 | InnoCare Pharma Ltd. Class H | 227,000 | 351 | |||
| SF Holding Co. Ltd. Class A | 63,400 | 350 | ||||
| China Merchants Securities Co. Ltd. Class A | 143,720 | 348 | ||||
| C&D International Investment Group Ltd. | 180,000 | 348 | ||||
| Zhejiang Huayou Cobalt Co. Ltd. Class A | 30,299 | 347 | ||||
| Shennan Circuits Co. Ltd. Class A | 8,360 | 347 | ||||
| Montage Technology Co. Ltd. Class A | 14,425 | 343 | ||||
| Zhongjin Gold Corp. Ltd. Class A | 73,300 | 342 | ||||
| TCL Electronics Holdings Ltd. | 215,000 | 336 | ||||
| COSCO SHIPPING Holdings Co. Ltd. Class A | 153,080 | 335 | ||||
| *,3 | Remegen Co. Ltd. Class H | 32,500 | 333 | |||
| Brilliance China Automotive Holdings Ltd. | 624,000 | 332 | ||||
| *,3 | Ascentage Pharma Group International | 55,500 | 332 | |||
| China Everbright Bank Co. Ltd. Class A | 699,300 | 330 | ||||
| China Tungsten & Hightech Materials Co. Ltd. Class A | 34,230 | 330 | ||||
| * | Genscript Biotech Corp. | 216,000 | 329 | |||
| BOE Technology Group Co. Ltd. Class A | 504,059 | 329 | ||||
| Ganfeng Lithium Group Co. Ltd. Class A | 30,794 | 328 | ||||
| Bank of Nanjing Co. Ltd. Class A | 200,200 | 328 | ||||
| Shengyi Technology Co. Ltd. Class A | 32,100 | 323 | ||||
| Foshan Haitian Flavouring & Food Co. Ltd. Class A | 61,660 | 323 | ||||
| Country Garden Services Holdings Co. Ltd. | 399,646 | 322 | ||||
| Lens Technology Co. Ltd. Class A | 62,835 | 321 | ||||
| Haier Smart Home Co. Ltd. Class A | 85,400 | 320 | ||||
| Shanghai Fudan Microelectronics Group Co. Ltd. Class H | 51,000 | 320 | ||||
| *,1 | RoboSense Technology Co. Ltd. | 69,600 | 320 | |||
| Beijing Kingsoft Office Software Inc. Class A | 7,198 | 316 | ||||
| GEM Co. Ltd. Class A | 216,400 | 312 | ||||
| Shandong Weigao Group Medical Polymer Co. Ltd. Class H | 472,800 | 308 | ||||
| Gree Electric Appliances Inc. of Zhuhai Class A | 56,400 | 308 | ||||
| Bank of Shanghai Co. Ltd. Class A | 217,900 | 308 | ||||
| * | Verisilicon Microelectronics Shanghai Co. Ltd. Class A | 7,575 | 306 | |||
| Beijing Enterprises Water Group Ltd. | 838,000 | 303 | ||||
| New China Life Insurance Co. Ltd. Class A | 27,400 | 302 | ||||
| Jiangxi Copper Co. Ltd. Class A | 35,700 | 302 | ||||
| JOYY Inc. ADR | 5,055 | 302 | ||||
| Huatai Securities Co. Ltd. Class A | 96,530 | 301 | ||||
| *,1 | Microport Scientific Corp. | 214,500 | 300 | |||
| 3 | Yadea Group Holdings Ltd. | 206,000 | 300 | |||
| Zangge Mining Co. Ltd. Class A | 23,900 | 300 | ||||
| China United Network Communications Ltd. Class A | 417,100 | 299 | ||||
11
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| OmniVision Integrated Circuits Group Inc. | 16,645 | 298 | ||||
| Shenzhen International Holdings Ltd. | 252,000 | 294 | ||||
| China Minsheng Banking Corp. Ltd. Class A | 515,900 | 292 | ||||
| * | LONGi Green Energy Technology Co. Ltd. Class A | 109,232 | 292 | |||
| Wasion Holdings Ltd. | 82,000 | 291 | ||||
| Goldwind Science & Technology Co. Ltd. Class H | 147,600 | 291 | ||||
| *,3 | Ping An Healthcare & Technology Co. Ltd. | 172,430 | 290 | |||
| Chongqing Rural Commercial Bank Co. Ltd. Class H | 386,000 | 290 | ||||
| WUS Printed Circuit Kunshan Co. Ltd. Class A | 23,840 | 290 | ||||
| Qfin Holdings Inc. Class A ADR | 19,836 | 289 | ||||
| Caitong Securities Co. Ltd. Class A | 227,555 | 288 | ||||
| Shanghai Conant Optical Co. Ltd. Class H | 36,600 | 288 | ||||
| 1 | Jiangsu Expressway Co. Ltd. Class H | 220,000 | 286 | |||
| Suzhou Dongshan Precision Manufacturing Co. Ltd. Class A | 23,000 | 285 | ||||
| * | Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class H | 33,600 | 285 | |||
| * | Phancy Group Co. Ltd. Class H | 54,800 | 278 | |||
| Chaozhou Three-Circle Group Co. Ltd. Class A | 30,094 | 277 | ||||
| *,3 | Mobvista Inc. | 183,000 | 277 | |||
| Zhejiang Expressway Co. Ltd. Class H | 314,560 | 275 | ||||
| Shenwan Hongyuan Group Co. Ltd. Class A | 376,720 | 275 | ||||
| ZTE Corp. Class A | 48,835 | 275 | ||||
| * | Air China Ltd. Class A | 219,200 | 269 | |||
| Bank of Beijing Co. Ltd. Class A | 340,400 | 268 | ||||
| Postal Savings Bank of China Co. Ltd. Class A | 367,700 | 267 | ||||
| Zhejiang Sanhua Intelligent Controls Co. Ltd. Class A | 35,800 | 266 | ||||
| China Everbright Bank Co. Ltd. Class H | 630,000 | 265 | ||||
| * | Tianqi Lithium Corp. Class A | 31,821 | 263 | |||
| China Railway Group Ltd. Class A | 286,500 | 263 | ||||
| * | Air China Ltd. Class H | 302,000 | 262 | |||
| 3 | Simcere Pharmaceutical Group Ltd. | 164,000 | 261 | |||
| * | HUTCHMED China Ltd. | 90,000 | 261 | |||
| 1 | Greentown China Holdings Ltd. | 194,500 | 260 | |||
| China Reinsurance Group Corp. Class H | 1,230,000 | 259 | ||||
| China Jinmao Holdings Group Ltd. | 1,264,000 | 257 | ||||
| Lingyi iTech Guangdong Co. Class A | 114,800 | 257 | ||||
| *,3 | East Buy Holding Ltd. | 78,500 | 255 | |||
| 3 | CSC Financial Co. Ltd. Class H | 166,000 | 254 | |||
| *,3 | Keymed Biosciences Inc. | 38,000 | 252 | |||
| Sunshine Insurance Group Co. Ltd. Class H | 500,500 | 250 | ||||
| *,3 | CALB Group Co. Ltd. Class H | 75,600 | 250 | |||
| Tongling Nonferrous Metals Group Co. Ltd. Class A | 215,100 | 249 | ||||
| GF Securities Co. Ltd. Class A | 81,855 | 249 | ||||
| Goldwind Science & Technology Co. Ltd. Class A | 60,100 | 249 | ||||
| Eastroc Beverage Group Co. Ltd. Class A | 7,059 | 249 | ||||
| Fufeng Group Ltd. | 238,000 | 247 | ||||
| * | Shanghai MicroPort MedBot Group Co. Ltd. Class H | 69,500 | 247 | |||
| Zhongtai Securities Co. Ltd. Class A | 263,498 | 246 | ||||
| Avary Holding Shenzhen Co. Ltd. Class A | 28,599 | 245 | ||||
| Iflytek Co. Ltd. Class A | 30,100 | 244 | ||||
| China Communications Services Corp. Ltd. Class H | 428,000 | 243 | ||||
| Hangzhou Silan Microelectronics Co. Ltd. Class A | 51,900 | 243 | ||||
| * | China Southern Airlines Co. Ltd. Class A | 225,900 | 242 | |||
| 1 | Zhejiang Sanhua Intelligent Controls Co. Ltd. Class H | 55,800 | 240 | |||
| SAIC Motor Corp. Ltd. Class A | 113,900 | 238 | ||||
| Guangzhou Guanggang Gases & Energy Co. Ltd. Class A | 63,169 | 237 | ||||
| TravelSky Technology Ltd. Class H | 172,000 | 235 | ||||
| Eve Energy Co. Ltd. Class A | 25,900 | 235 | ||||
| Autohome Inc. ADR | 12,183 | 234 | ||||
| Shanghai Pharmaceuticals Holding Co. Ltd. Class H | 157,000 | 233 | ||||
| Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H | 90,500 | 231 | ||||
| * | China Eastern Airlines Corp. Ltd. Class H | 324,000 | 230 | |||
| Fuyao Glass Industry Group Co. Ltd. Class A | 26,200 | 230 | ||||
| *,1 | Sunac China Holdings Ltd. | 1,434,000 | 228 | |||
| Shenzhen Envicool Technology Co. Ltd. Class A | 14,476 | 228 | ||||
| 1 | Fosun International Ltd. | 458,500 | 226 | |||
| * | Damai Entertainment Holdings Ltd. | 2,150,000 | 224 | |||
| Nanjing Securities Co. Ltd. Class A | 191,300 | 220 | ||||
| China Three Gorges Renewables Group Co. Ltd. Class A | 358,800 | 218 | ||||
| Chinasoft International Ltd. | 398,000 | 217 | ||||
| Jilin Aodong Pharmaceutical Group Co. Ltd. Class A | 78,121 | 217 | ||||
12
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | China Eastern Airlines Corp. Ltd. Class A | 259,200 | 217 | |||
| 1 | SF Holding Co. Ltd. Class H | 45,800 | 210 | |||
| * | China Southern Airlines Co. Ltd. Class H | 278,000 | 209 | |||
| Xiamen Tungsten Co. Ltd. Class A | 20,400 | 209 | ||||
| Shandong Hualu Hengsheng Chemical Co. Ltd. Class A | 36,900 | 208 | ||||
| Uni-President China Holdings Ltd. | 207,000 | 204 | ||||
| Shoucheng Holdings Ltd. | 727,600 | 204 | ||||
| 1,3 | China Tourism Group Duty Free Corp. Ltd. Class H | 20,200 | 204 | |||
| Shanjin International Gold Co. Ltd. Class A | 44,300 | 201 | ||||
| 3 | Topsports International Holdings Ltd. | 496,000 | 199 | |||
| COSCO SHIPPING Ports Ltd. | 236,000 | 196 | ||||
| Guangzhou Automobile Group Co. Ltd. Class H | 412,000 | 196 | ||||
| 3 | China Resources Pharmaceutical Group Ltd. | 338,000 | 196 | |||
| Zhejiang Juhua Co. Ltd. Class A | 32,400 | 196 | ||||
| China CITIC Bank Corp. Ltd. Class A | 185,600 | 195 | ||||
| Shanghai United Imaging Healthcare Co. Ltd. Class A | 10,270 | 195 | ||||
| *,1 | China Vanke Co. Ltd. Class H | 405,200 | 194 | |||
| Xtep International Holdings Ltd. | 283,500 | 193 | ||||
| Wens Foodstuff Group Co. Ltd. Class A | 82,300 | 192 | ||||
| Consun Pharmaceutical Group Ltd. | 83,000 | 191 | ||||
| Yunnan Aluminium Co. Ltd. Class A | 42,000 | 191 | ||||
| Grand Pharmaceutical Group Ltd. | 188,500 | 189 | ||||
| * | Daqo New Energy Corp. ADR | 7,849 | 189 | |||
| Piotech Inc. Class A | 3,511 | 189 | ||||
| CSC Financial Co. Ltd. Class A | 54,200 | 188 | ||||
| China Jushi Co. Ltd. Class A | 47,844 | 188 | ||||
| Yihai International Holding Ltd. | 90,000 | 187 | ||||
| Sinoma Science & Technology Co. Ltd. Class A | 25,200 | 186 | ||||
| Huaxia Bank Co. Ltd. Class A | 191,000 | 186 | ||||
| Lens Technology Co. Ltd. Class H | 52,600 | 184 | ||||
| Focus Media Information Technology Co. Ltd. Class A | 177,700 | 183 | ||||
| China International Capital Corp. Ltd. Class A | 36,299 | 183 | ||||
| Sihuan Pharmaceutical Holdings Group Ltd. | 919,000 | 182 | ||||
| Yunnan Baiyao Group Co. Ltd. Class A | 22,200 | 182 | ||||
| Jiangsu Zhongtian Technology Co. Ltd. Class A | 42,900 | 182 | ||||
| Chifeng Jilong Gold Mining Co. Ltd. Class H | 36,000 | 182 | ||||
| Hisense Home Appliances Group Co. Ltd. Class H | 59,000 | 181 | ||||
| Aier Eye Hospital Group Co. Ltd. Class A | 117,048 | 181 | ||||
| Zhejiang Dahua Technology Co. Ltd. Class A | 64,500 | 181 | ||||
| Inner Mongolia Xingye Silver&Tin Mining Co. Ltd. Class A | 22,500 | 181 | ||||
| China Galaxy Securities Co. Ltd. Class A | 85,200 | 181 | ||||
| Universal Scientific Industrial Shanghai Co. Ltd. Class A | 26,100 | 181 | ||||
| Nexchip Semiconductor Corp. Class A | 34,561 | 179 | ||||
| Lee & Man Paper Manufacturing Ltd. | 361,000 | 178 | ||||
| Lonking Holdings Ltd. | 408,000 | 178 | ||||
| Zhejiang NHU Co. Ltd. Class A | 38,756 | 178 | ||||
| Chongqing Rural Commercial Bank Co. Ltd. Class A | 188,200 | 178 | ||||
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A | 7,400 | 176 | ||||
| 3 | Shenwan Hongyuan Group Co. Ltd. Class H | 440,000 | 174 | |||
| JCET Group Co. Ltd. Class A | 24,500 | 172 | ||||
| Western Securities Co. Ltd. Class A | 146,500 | 171 | ||||
| Jiangsu Linyang Energy Co. Ltd. Class A | 187,100 | 171 | ||||
| Zhejiang Chint Electrics Co. Ltd. Class A | 35,305 | 170 | ||||
| *,1 | Tianqi Lithium Corp. Class H | 27,600 | 170 | |||
| *,3 | Tuhu Car Inc. Class A | 92,700 | 170 | |||
| Huaqin Technology Co. Ltd. Class A | 12,700 | 170 | ||||
| GoerTek Inc. Class A | 42,800 | 169 | ||||
| TCL Technology Group Corp. Class A | 233,120 | 169 | ||||
| Hgtech Co. Ltd. Class A | 12,800 | 167 | ||||
| China Everbright Ltd. | 148,000 | 166 | ||||
| Zhejiang China Commodities City Group Co. Ltd. Class A | 76,600 | 166 | ||||
| China Zheshang Bank Co. Ltd. Class H | 483,000 | 166 | ||||
| IEIT Systems Co. Ltd. Class A | 17,800 | 165 | ||||
| *,1,3 | Weimob Inc. | 671,000 | 165 | |||
| Haohua Chemical Science & Technology Co. Ltd. Class A | 30,000 | 165 | ||||
| * | Hua Hong Semiconductor Ltd. Class A | 8,871 | 164 | |||
| Zhongsheng Group Holdings Ltd. | 123,500 | 163 | ||||
| Sharetronic Data Technology Co. Ltd. Class A | 4,200 | 163 | ||||
| Guangdong Haid Group Co. Ltd. Class A | 20,300 | 162 | ||||
| Henan Shuanghui Investment & Development Co. Ltd. Class A | 42,300 | 162 | ||||
13
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | 112,300 | 162 | ||||
| 3 | China Merchants Securities Co. Ltd. Class H | 90,060 | 162 | |||
| Han's Laser Technology Industry Group Co. Ltd. Class A | 15,400 | 162 | ||||
| Chongqing Changan Automobile Co. Ltd. Class A | 98,618 | 159 | ||||
| Western Superconducting Technologies Co. Ltd. Class A | 12,043 | 158 | ||||
| * | United Nova Technology Co. Ltd. Class A | 139,555 | 158 | |||
| Shanghai Baosight Software Co. Ltd. Class B | 145,400 | 157 | ||||
| * | Hainan Airlines Holding Co. Ltd. Class A | 632,500 | 157 | |||
| Delton Technology Guangzhou Inc. Class A | 9,000 | 157 | ||||
| Beijing Originwater Technology Co. Ltd. Class A | 253,605 | 156 | ||||
| 3 | China Railway Signal & Communication Corp. Ltd. Class H | 329,000 | 155 | |||
| *,1,3 | Jinxin Fertility Group Ltd. | 487,500 | 155 | |||
| Shannon Semiconductor Technology Co. Ltd. Class A | 7,200 | 155 | ||||
| China Traditional Chinese Medicine Holdings Co. Ltd. | 596,000 | 154 | ||||
| *,2 | Tongwei Co. Ltd. Class A | 57,908 | 152 | |||
| 3 | Genertec Universal Medical Group Co. Ltd. | 194,000 | 152 | |||
| Shandong Nanshan Aluminum Co. Ltd. Class A | 147,300 | 152 | ||||
| Yuexiu Property Co. Ltd. | 260,280 | 152 | ||||
| 360 Security Technology Inc. Class A | 83,700 | 151 | ||||
| Yuanjie Semiconductor Technology Co. Ltd. Class A | 1,353 | 151 | ||||
| 3 | Orient Securities Co. Ltd. Class H | 191,200 | 150 | |||
| *,3 | Evergrande Property Services Group Ltd. | 1,011,500 | 150 | |||
| Yunnan Yuntianhua Co. Ltd. Class A | 23,200 | 150 | ||||
| Hsino Tower Group Co. Ltd. Class A | 162,600 | 148 | ||||
| Shanghai Rural Commercial Bank Co. Ltd. Class A | 118,800 | 146 | ||||
| Poly Developments & Holdings Group Co. Ltd. Class A | 145,100 | 144 | ||||
| Chongqing Changan Automobile Co. Ltd. Class B | 275,392 | 143 | ||||
| * | Lufax Holding Ltd. ADR | 54,732 | 142 | |||
| * | Biwin Storage Technology Co. Ltd. Class A | 5,842 | 141 | |||
| FAWER Automotive Parts Co. Ltd. Class A | 172,700 | 140 | ||||
| Great Wall Motor Co. Ltd. Class A | 47,000 | 140 | ||||
| People's Insurance Co. Group of China Ltd. Class A | 111,800 | 140 | ||||
| Shandong Himile Mechanical Science & Technology Co. Ltd. Class A | 9,900 | 139 | ||||
| Weilong Delicious Global Holdings Ltd. | 93,200 | 139 | ||||
| JinkoSolar Holding Co. Ltd. ADR | 5,472 | 138 | ||||
| *,3 | Luye Pharma Group Ltd. | 417,000 | 138 | |||
| * | Loongson Technology Corp. Ltd. Class A | 5,978 | 138 | |||
| Yum China Holdings Inc. | 2,493 | 137 | ||||
| Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class H | 56,000 | 137 | ||||
| China Lesso Group Holdings Ltd. | 157,000 | 137 | ||||
| Greentown Service Group Co. Ltd. | 246,000 | 137 | ||||
| Guangzhou Tinci Materials Technology Co. Ltd. Class A | 22,300 | 137 | ||||
| * | Lifetech Scientific Corp. | 656,000 | 137 | |||
| Hello Group Inc. Class A ADR | 21,158 | 137 | ||||
| Unisplendour Corp. Ltd. Class A | 35,960 | 136 | ||||
| Yunnan Tin Co. Ltd. Class A | 21,100 | 136 | ||||
| Maccura Biotechnology Co. Ltd. Class A | 78,800 | 136 | ||||
| * | Jinko Solar Co. Ltd. Class A | 123,769 | 136 | |||
| * | FIH Mobile Ltd. | 48,200 | 136 | |||
| JF SmartInvest Holdings Ltd. | 29,800 | 136 | ||||
| China Water Affairs Group Ltd. | 202,000 | 135 | ||||
| Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A | 34,926 | 135 | ||||
| Anhui Expressway Co. Ltd. Class H | 76,000 | 134 | ||||
| Hangzhou Tigermed Consulting Co. Ltd. Class A | 15,400 | 134 | ||||
| 3 | Pharmaron Beijing Co. Ltd. Class H | 53,050 | 134 | |||
| Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. Class A | 16,400 | 133 | ||||
| Satellite Chemical Co. Ltd. Class A | 39,200 | 133 | ||||
| Chongyi Zhangyuan Tungsten Industry Co. Ltd. Class A | 22,490 | 133 | ||||
| Shenzhen Megmeet Electrical Co. Ltd. Class A | 7,200 | 131 | ||||
| China Resources Microelectronics Ltd. Class A | 15,709 | 131 | ||||
| Industrial Securities Co. Ltd. Class A | 132,122 | 130 | ||||
| * | Seazen Group Ltd. | 444,567 | 130 | |||
| West China Cement Ltd. | 336,000 | 129 | ||||
| Shenzhen Sunway Communication Co. Ltd. Class A | 11,600 | 129 | ||||
| Shenghe Resources Holding Co. Ltd. Class A | 26,300 | 129 | ||||
| Guosen Securities Co. Ltd. Class A | 69,500 | 127 | ||||
| * | China Rare Earth Resources & Technology Co. Ltd. Class A | 13,400 | 127 | |||
| Jinduicheng Molybdenum Co. Ltd. Class A | 35,400 | 127 | ||||
| * | Beijing Compass Technology Development Co. Ltd. Class A | 7,525 | 127 | |||
| Orient Securities Co. Ltd. Class A | 85,214 | 126 | ||||
14
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Guangdong Fenghua Advanced Technology Holding Co. Ltd. Class A | 33,300 | 126 | ||||
| Hwatsing Technology Co. Ltd. Class A | 4,450 | 126 | ||||
| Huizhou Desay Sv Automotive Co. Ltd. Class A | 6,900 | 125 | ||||
| Gotion High-tech Co. Ltd. Class A | 22,600 | 125 | ||||
| Aerospace Intelligent Manufacturing Technology Co. Ltd. Class A | 35,400 | 125 | ||||
| Chifeng Jilong Gold Mining Co. Ltd. Class A | 21,200 | 124 | ||||
| * | Dosilicon Co. Ltd. Class A | 6,095 | 124 | |||
| CSI Solar Co. Ltd. Class A | 58,665 | 124 | ||||
| Yutong Bus Co. Ltd. Class A | 28,500 | 123 | ||||
| China Zheshang Bank Co. Ltd. Class A | 284,140 | 123 | ||||
| Hunan Yuneng New Energy Battery Material Co. Ltd. Class A | 12,600 | 123 | ||||
| * | Newborn Town Inc. | 102,000 | 123 | |||
| Sinofert Holdings Ltd. | 512,000 | 122 | ||||
| Tiangong International Co. Ltd. | 226,000 | 122 | ||||
| YTO Express Group Co. Ltd. Class A | 42,300 | 121 | ||||
| Citic Pacific Special Steel Group Co. Ltd. Class A | 45,900 | 121 | ||||
| * | QuantumCTek Co. Ltd. Class A | 1,222 | 121 | |||
| * | Sichuan Biokin Pharmaceutical Co. Ltd. Class A | 3,138 | 121 | |||
| * | Vnet Group Inc. ADR | 11,094 | 120 | |||
| China Overseas Property Holdings Ltd. | 220,000 | 120 | ||||
| Dajin Heavy Industry Co. Ltd. Class A | 11,800 | 120 | ||||
| China Merchants Expressway Network & Technology Holdings Co. Ltd. Class A | 84,300 | 119 | ||||
| * | Shanghai Stonehill Technology Co. Ltd. Class A | 73,700 | 119 | |||
| * | COFCO Joycome Foods Ltd. | 598,000 | 118 | |||
| Ingenic Semiconductor Co. Ltd. Class A | 6,100 | 118 | ||||
| SUPCON Technology Co. Ltd. Class A | 10,088 | 118 | ||||
| Unigroup Guoxin Microelectronics Co. Ltd. Class A | 10,059 | 117 | ||||
| Shanghai Putailai New Energy Technology Group Co. Ltd. | 28,300 | 117 | ||||
| Fu Shou Yuan International Group Ltd. | 345,000 | 117 | ||||
| Onewo Inc. Class H | 48,200 | 117 | ||||
| Shenzhen Transsion Holdings Co. Ltd. Class A | 13,779 | 116 | ||||
| Huaxin Building Materials Group Co. Ltd. Class H | 49,400 | 116 | ||||
| Livzon Pharmaceutical Group Inc. Class H | 31,100 | 115 | ||||
| Accelink Technologies Co. Ltd. Class A | 10,400 | 115 | ||||
| YongXing Special Materials Technology Co. Ltd. Class A | 12,200 | 115 | ||||
| Yihai Kerry Arawana Holdings Co. Ltd. Class A | 26,800 | 115 | ||||
| China Datang Corp. Renewable Power Co. Ltd. Class H | 471,000 | 115 | ||||
| First Tractor Co. Ltd. Class H | 90,000 | 114 | ||||
| Inner Mongolia Berun Chemical Co. Ltd. Class A | 83,500 | 114 | ||||
| Hangzhou Oxygen Plant Group Co. Ltd. Class A | 24,000 | 114 | ||||
| RoboTechnik Intelligent Technology Co. Ltd. Class A | 1,900 | 114 | ||||
| * | Skyverse Technology Co. Ltd. Class A | 3,985 | 114 | |||
| Everbright Securities Co. Ltd. Class A | 46,500 | 113 | ||||
| Sinomine Resource Group Co. Ltd. Class A | 8,500 | 113 | ||||
| * | Remegen Co. Ltd. Class A | 7,873 | 113 | |||
| Tianneng Power International Ltd. | 118,000 | 112 | ||||
| Huadong Medicine Co. Ltd. Class A | 21,400 | 112 | ||||
| Shenzhen Capchem Technology Co. Ltd. Class A | 13,500 | 112 | ||||
| Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A | 18,600 | 112 | ||||
| * | National Silicon Industry Group Co. Ltd. Class A | 35,595 | 112 | |||
| * | Bluefocus Intelligent Communications Group Co. Ltd. Class A | 41,160 | 111 | |||
| SDIC Capital Co. Ltd. Class A | 101,700 | 111 | ||||
| Shenzhen Kinwong Electronic Co. Ltd. Class A | 11,500 | 111 | ||||
| Poly Property Services Co. Ltd. Class H | 26,800 | 110 | ||||
| Pharmaron Beijing Co. Ltd. Class A | 25,420 | 110 | ||||
| Shanghai Fudan Microelectronics Group Co. Ltd. Class A | 8,838 | 110 | ||||
| * | EHang Holdings Ltd. ADR | 8,844 | 109 | |||
| * | Minmetals New Energy Materials Hunan Co. Ltd. | 65,038 | 109 | |||
| Kingfa Sci & Tech Co. Ltd. Class A | 38,500 | 108 | ||||
| Huayu Automotive Systems Co. Ltd. Class A | 38,100 | 107 | ||||
| Yunnan Chihong Zinc&Germanium Co. Ltd. Class A | 66,400 | 107 | ||||
| Huaneng Lancang River Hydropower Inc. Class A | 78,000 | 107 | ||||
| * | Sichuan Huafeng Technology Co. Ltd. Class A | 5,725 | 107 | |||
| Sigmastar Technology Ltd. Class A | 8,800 | 107 | ||||
| China Overseas Grand Oceans Group Ltd. | 285,000 | 106 | ||||
| * | Tianma Microelectronics Co. Ltd. Class A | 71,600 | 106 | |||
| *,1,3 | Shanghai Junshi Biosciences Co. Ltd. Class H | 40,600 | 106 | |||
| China Great Wall Securities Co. Ltd. Class A | 73,525 | 106 | ||||
| Nanjing Gaoke Co. Ltd. Class A | 81,600 | 106 | ||||
| *,3 | BAIC Motor Corp. Ltd. Class H | 451,500 | 105 | |||
15
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Guoyuan Securities Co. Ltd. Class A | 86,895 | 105 | ||||
| China National Chemical Engineering Co. Ltd. Class A | 76,700 | 105 | ||||
| Shengyi Electronics Co. Ltd. Class A | 8,339 | 105 | ||||
| China BlueChemical Ltd. Class H | 280,000 | 104 | ||||
| * | Yunnan Energy New Material Group Co. Ltd. Class A | 11,500 | 104 | |||
| * | BAIC BluePark New Energy Technology Co. Ltd. Class A | 89,400 | 104 | |||
| Shanghai Lingang Holdings Corp. Ltd. Class A | 63,200 | 104 | ||||
| Shenzhen Techwinsemi Technology Co. Ltd. Class A | 2,800 | 104 | ||||
| Sichuan Expressway Co. Ltd. Class H | 144,000 | 103 | ||||
| Sinolink Securities Co. Ltd. Class A | 77,585 | 103 | ||||
| JNBY Design Ltd. | 37,500 | 103 | ||||
| * | DPC Dash Ltd. | 12,600 | 103 | |||
| Tian Di Science & Technology Co. Ltd. Class A | 114,800 | 102 | ||||
| Anji Microelectronics Technology Shanghai Co. Ltd. Class A | 2,616 | 102 | ||||
| *,2 | New Horizon Health Ltd. | 56,500 | 102 | |||
| Yunnan Copper Co. Ltd. Class A | 27,100 | 101 | ||||
| Raytron Technology Co. Ltd. Class A | 5,941 | 101 | ||||
| *,1,3 | Hygeia Healthcare Holdings Co. Ltd. | 59,745 | 101 | |||
| * | Hopson Development Holdings Ltd. | 245,321 | 101 | |||
| Dazhong Mining Co. Ltd. Class A | 17,100 | 101 | ||||
| 1 | China Resources Beverage Holdings Co. Ltd. | 78,800 | 101 | |||
| Sangfor Technologies Inc. Class A | 5,200 | 100 | ||||
| Yangzijiang Financial Holding Ltd. | 408,700 | 100 | ||||
| * | China Vanke Co. Ltd. Class A | 140,400 | 99 | |||
| Fiberhome Telecommunication Technologies Co. Ltd. Class A | 13,200 | 99 | ||||
| Tianjin Capital Environmental Protection Group Co. Ltd. Class A | 104,900 | 99 | ||||
| 3 | Hangzhou Tigermed Consulting Co. Ltd. Class H | 16,500 | 99 | |||
| Ningbo Joyson Electronic Corp. Class A | 24,200 | 99 | ||||
| Hundsun Technologies Inc. Class A | 22,480 | 98 | ||||
| *,3 | Yidu Tech Inc. | 129,100 | 98 | |||
| Empyrean Technology Co. Ltd. Class A | 6,700 | 98 | ||||
| 37 Interactive Entertainment Network Technology Group Co. Ltd. Class A | 26,800 | 96 | ||||
| Shanghai Sinyang Semiconductor Materials Co. Ltd. Class A | 8,100 | 96 | ||||
| *,3 | Alphamab Oncology | 86,000 | 96 | |||
| Gushengtang Holdings Ltd. | 27,200 | 96 | ||||
| * | Beijing Capital International Airport Co. Ltd. Class H | 318,000 | 95 | |||
| Shanghai Zhenhua Heavy Industries Co. Ltd. Class B | 345,100 | 95 | ||||
| Guangshen Railway Co. Ltd. Class H | 338,000 | 95 | ||||
| * | CICT Mobile Communication Technology Co. Ltd. Class A | 37,436 | 95 | |||
| * | Yanlord Land Group Ltd. | 153,500 | 94 | |||
| Shenzhen Everwin Precision Technology Co. Ltd. Class A | 16,700 | 94 | ||||
| Geovis Technology Co. Ltd. Class A | 9,492 | 94 | ||||
| * | SICC Co. Ltd. Class A | 6,936 | 94 | |||
| Hualan Biological Engineering Inc. Class A | 41,400 | 93 | ||||
| Bank of Chongqing Co. Ltd. Class H | 95,000 | 93 | ||||
| Yangzhou Yangjie Electronic Technology Co. Ltd. Class A | 7,300 | 93 | ||||
| Sailun Group Co. Ltd. Class A | 40,500 | 93 | ||||
| Shanghai Baosight Software Co. Ltd. Class A | 26,500 | 93 | ||||
| Anker Innovations Technology Co. Ltd. Class A | 6,570 | 93 | ||||
| Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A | 25,000 | 92 | ||||
| * | Founder Technology Group Corp. Class A | 55,800 | 92 | |||
| Guobo Electronics Co. Ltd. Class A | 5,143 | 92 | ||||
| * | Skyworth Group Ltd. | 101,111 | 91 | |||
| Ningbo Sanxing Medical Electric Co. Ltd. Class A | 23,800 | 91 | ||||
| Guolian Minsheng Securities Co. Ltd. Class A | 63,500 | 91 | ||||
| CNGR Advanced Material Co. Ltd. Class A | 10,920 | 91 | ||||
| Easy Click Worldwide Network Technology Co. Ltd. Class A | 11,000 | 91 | ||||
| Shanghai Chicmax Cosmetic Co. Ltd. Class H | 11,800 | 91 | ||||
| BOE Technology Group Co. Ltd. Class B | 212,500 | 90 | ||||
| Poly Property Group Co. Ltd. | 334,000 | 90 | ||||
| Beijing New Building Materials plc Class A | 22,000 | 90 | ||||
| LB Group Co. Ltd. Class A | 26,500 | 90 | ||||
| Zhejiang Longsheng Group Co. Ltd. Class A | 37,800 | 90 | ||||
| Henan Yuguang Gold & Lead Co. Ltd. Class A | 34,100 | 90 | ||||
| EverProX Technologies Co. Ltd. Class A | 4,200 | 90 | ||||
| Shanghai International Port Group Co. Ltd. Class A | 120,200 | 89 | ||||
| * | Flat Glass Group Co. Ltd. Class H | 64,000 | 89 | |||
| Shenzhen Kaifa Technology Co. Ltd. Class A | 17,500 | 88 | ||||
| Oriental Pearl Group Co. Ltd. Class A | 51,500 | 87 | ||||
| Shanghai Pharmaceuticals Holding Co. Ltd. Class A | 34,600 | 87 | ||||
16
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Huaan Securities Co. Ltd. Class A | 93,600 | 87 | ||||
| JCHX Mining Management Co. Ltd. Class A | 7,700 | 87 | ||||
| Isoftstone Information Technology Group Co. Ltd. Class A | 12,000 | 87 | ||||
| Hunan Valin Steel Co. Ltd. Class A | 87,900 | 86 | ||||
| Q Technology Group Co. Ltd. | 76,000 | 86 | ||||
| GRG Banking Equipment Co. Ltd. Class A | 42,800 | 86 | ||||
| Hangzhou First Applied Material Co. Ltd. Class A | 32,700 | 86 | ||||
| Olympic Circuit Technology Co. Ltd. Class A | 8,800 | 86 | ||||
| Cinda Securities Co. Ltd. Class A | 33,200 | 86 | ||||
| China Resources Building Materials Technology Holdings Ltd. | 354,000 | 85 | ||||
| Yealink Network Technology Corp. Ltd. Class A | 15,600 | 85 | ||||
| China National Medicines Corp. Ltd. Class A | 19,800 | 85 | ||||
| JL Mag Rare-Earth Co. Ltd. Class A | 14,200 | 85 | ||||
| ACM Research Shanghai Inc. Class A | 3,381 | 85 | ||||
| Hainan Jinpan Smart Technology Co. Ltd. Class A | 5,818 | 85 | ||||
| * | ASR Microelectronics Co. Ltd. Class A | 6,001 | 85 | |||
| Sichuan Kelun Pharmaceutical Co. Ltd. Class A | 18,800 | 84 | ||||
| Shengda Resources Co. Ltd. Class A | 11,100 | 84 | ||||
| C&S Paper Co. Ltd. Class A | 62,800 | 83 | ||||
| Sichuan Changhong Electric Co. Ltd. Class A | 55,100 | 83 | ||||
| Changshu Fengfan Power Equipment Co. Ltd. Class A | 93,400 | 83 | ||||
| Zhuzhou CRRC Times Electric Co. Ltd. Class A | 9,628 | 83 | ||||
| SSY Group Ltd. | 238,000 | 82 | ||||
| * | Maanshan Iron & Steel Co. Ltd. Class H | 234,000 | 82 | |||
| * | Yonyou Network Technology Co. Ltd. Class A | 39,600 | 82 | |||
| * | Talkweb Information System Co. Ltd. Class A | 15,400 | 82 | |||
| *,3 | Hangzhou SF Intra-City Industrial Co. Ltd. Class H | 49,000 | 82 | |||
| China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A | 19,318 | 81 | ||||
| Zhejiang Weiming Environment Protection Co. Ltd. Class A | 19,813 | 81 | ||||
| 3 | Angelalign Technology Inc. | 8,400 | 81 | |||
| * | Trina Solar Co. Ltd. Class A | 28,931 | 81 | |||
| Fujian Wanchen Food Group Co. Ltd. Class A | 2,700 | 81 | ||||
| * | TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A | 53,550 | 80 | |||
| Maxscend Microelectronics Co. Ltd. Class A | 6,840 | 80 | ||||
| Jiangsu Hoperun Software Co. Ltd. Class A | 10,400 | 79 | ||||
| Shandong Sun Paper Industry JSC Ltd. Class A | 31,500 | 79 | ||||
| Do-Fluoride New Materials Co. Ltd. Class A | 17,700 | 79 | ||||
| Ming Yang Smart Energy Group Ltd. Class A | 23,800 | 79 | ||||
| Wuchan Zhongda Group Co. Ltd. Class A | 93,000 | 79 | ||||
| FinVolution Group ADR | 14,066 | 79 | ||||
| 3 | AK Medical Holdings Ltd. | 96,000 | 79 | |||
| 3 | Blue Moon Group Holdings Ltd. | 217,000 | 79 | |||
| Shanghai BOCHU Electronic Technology Corp. Ltd. Class A | 3,596 | 79 | ||||
| Beijing Tong Ren Tang Co. Ltd. Class A | 17,300 | 78 | ||||
| Konfoong Materials International Co. Ltd. Class A | 3,300 | 78 | ||||
| * | Maanshan Iron & Steel Co. Ltd. Class A | 128,800 | 78 | |||
| Imeik Technology Development Co. Ltd. Class A | 3,760 | 78 | ||||
| * | Hebei Changshan Biochemical Pharmaceutical Co. Ltd. Class A | 11,500 | 78 | |||
| Shanghai Allist Pharmaceuticals Co. Ltd. Class A | 5,782 | 78 | ||||
| Sun Art Retail Group Ltd. | 366,500 | 77 | ||||
| Shenzhen Expressway Corp. Ltd. Class H | 84,000 | 77 | ||||
| Zhejiang Hailiang Co. Ltd. Class A | 35,700 | 77 | ||||
| Yuexiu REIT | 689,206 | 76 | ||||
| Guangzhou Automobile Group Co. Ltd. Class A | 64,600 | 76 | ||||
| Xiamen Faratronic Co. Ltd. Class A | 4,500 | 76 | ||||
| Changzhou Xingyu Automotive Lighting Systems Co. Ltd. Class A | 3,402 | 76 | ||||
| Hubei Dinglong Co. Ltd. Class A | 11,300 | 76 | ||||
| SG Micro Corp. Class A | 7,540 | 76 | ||||
| Hangcha Group Co. Ltd. Class A | 17,640 | 76 | ||||
| * | BeOne Medicines Ltd. Class A | 2,012 | 76 | |||
| CSPC Innovation Pharmaceutical Co. Ltd. Class A | 15,700 | 76 | ||||
| China Foods Ltd. | 146,000 | 75 | ||||
| PAX Global Technology Ltd. | 121,000 | 75 | ||||
| 3 | China East Education Holdings Ltd. | 90,500 | 75 | |||
| Goneo Group Co. Ltd. Class A | 11,788 | 75 | ||||
| * | China Rare Earth Nonferrous Metals Co. Ltd. Class A | 5,000 | 75 | |||
| Sinoma International Engineering Co. Class A | 46,000 | 74 | ||||
| * | Flat Glass Group Co. Ltd. Class A | 29,600 | 74 | |||
| Shenzhen New Industries Biomedical Engineering Co. Ltd. Class A | 9,699 | 74 | ||||
| Leader Harmonious Drive Systems Co. Ltd. Class A | 2,185 | 74 | ||||
17
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Chervon Holdings Ltd. | 23,600 | 74 | ||||
| GalaxyCore Inc. Class A | 30,082 | 74 | ||||
| Kingsemi Co. Ltd. Class A | 2,331 | 74 | ||||
| Changchun High-Tech Industry Group Co. Ltd. Class A | 5,200 | 73 | ||||
| Mango Excellent Media Co. Ltd. Class A | 20,600 | 73 | ||||
| Wuxi Taiji Industry Ltd. Co. Class A | 45,600 | 73 | ||||
| * | Amlogic Shanghai Co. Ltd. Class A | 5,249 | 73 | |||
| Beijing Huafeng Test & Control Technology Co. Ltd. Class A | 1,702 | 73 | ||||
| Wuxi Autowell Technology Co. Ltd. Class A | 5,115 | 73 | ||||
| * | JinJian Cereals Industry Co. Ltd. Class A | 74,600 | 73 | |||
| * | Chongqing Zhifei Biological Products Co. Ltd. Class A | 28,600 | 72 | |||
| Guangzhou Haige Communications Group Inc. Co. Class A | 27,800 | 72 | ||||
| New Hope Liuhe Co. Ltd. Class A | 56,800 | 72 | ||||
| Perfect World Co. Ltd. Class A | 23,000 | 72 | ||||
| * | Aerospace Hi-Tech Holdings Group Ltd. Class A | 18,400 | 72 | |||
| 1 | Tianli International Holdings Ltd. | 225,000 | 72 | |||
| * | Wingtech Technology Co. Ltd. Class A | 14,700 | 72 | |||
| 3 | Linklogis Inc. Class B | 261,000 | 72 | |||
| * | Yonghui Superstores Co. Ltd. Class A | 114,500 | 71 | |||
| Changzheng Engineering Technology Co. Ltd. Class A | 14,000 | 71 | ||||
| China Risun Group Ltd. | 219,000 | 71 | ||||
| Zhejiang Sanmei Chemical Industry Co. Ltd. Class A | 6,700 | 71 | ||||
| Yuexiu Transport Infrastructure Ltd. | 120,000 | 70 | ||||
| Shanghai Chlor-Alkali Chemical Co. Ltd. Class B | 93,400 | 70 | ||||
| Nanjing Iron & Steel Co. Ltd. Class A | 81,000 | 70 | ||||
| Jiangsu Nata Opto-electronic Material Co. Ltd. Class A | 8,472 | 70 | ||||
| Ningbo Orient Wires & Cables Co. Ltd. Class A | 8,100 | 70 | ||||
| Zhejiang Cfmoto Power Co. Ltd. Class A | 1,945 | 70 | ||||
| Sunresin New Materials Co. Ltd. Class A | 6,400 | 70 | ||||
| Cathay Biotech Inc. Class A | 8,726 | 70 | ||||
| * | Shenzhen Intellifusion Technologies Co. Ltd. Class A | 4,347 | 70 | |||
| * | Guangxi Huaxi Nonferrous Metal Co. Ltd. Class A | 7,400 | 70 | |||
| Health & Happiness H&H International Holdings Ltd. | 36,000 | 69 | ||||
| SooChow Securities Co. Ltd. Class A | 51,300 | 69 | ||||
| Shijiazhuang Yiling Pharmaceutical Co. Ltd. Class A | 27,100 | 69 | ||||
| 3 | Maoyan Entertainment | 84,200 | 69 | |||
| Jiangsu Etern Co. Ltd. Class A | 15,800 | 69 | ||||
| Shenzhen Fastprint Circuit Tech Co. Ltd. Class A | 18,200 | 69 | ||||
| Jiangsu Xinquan Automotive Trim Co. Ltd. Class A | 5,600 | 69 | ||||
| * | Sichuan Hongda Co. Ltd. Class A | 23,900 | 69 | |||
| XTC New Energy Materials Xiamen Co. Ltd. Class A | 5,719 | 69 | ||||
| * | Hunan New Wellful Co. Ltd. Class A | 82,400 | 69 | |||
| * | Guangdong TCL Smart Home Appliances Co. Ltd. | 47,300 | 69 | |||
| T&S Communications Co. Ltd. Class A | 3,500 | 69 | ||||
| China Shineway Pharmaceutical Group Ltd. | 57,000 | 68 | ||||
| China Modern Dairy Holdings Ltd. | 376,000 | 68 | ||||
| Changjiang Securities Co. Ltd. Class A | 59,000 | 68 | ||||
| Beijing Shougang Co. Ltd. Class A | 81,900 | 68 | ||||
| Advanced Technology & Materials Co. Ltd. Class A | 18,300 | 68 | ||||
| Bank of Changsha Co. Ltd. Class A | 47,500 | 68 | ||||
| * | JA Solar Technology Co. Ltd. Class A | 38,439 | 68 | |||
| Keboda Technology Co. Ltd. Class A | 6,900 | 68 | ||||
| China Railway Signal & Communication Corp. Ltd. Class A | 81,745 | 68 | ||||
| Ganzhou Teng Yuan Cobalt New Material Co. Ltd. Class A | 5,900 | 68 | ||||
| Shenzhen FRD Science & Technology Co. Ltd. Class A | 11,700 | 67 | ||||
| Glarun Technology Co. Ltd. Class A | 15,700 | 67 | ||||
| Jiangsu Provincial Agricultural Reclamation & Development Corp. Class A | 48,700 | 67 | ||||
| Ginlong Technologies Co. Ltd. Class A | 5,500 | 67 | ||||
| Beijing Roborock Technology Co. Ltd. Class A | 3,200 | 67 | ||||
| Zhejiang Yinlun Machinery Co. Ltd. Class A | 9,400 | 67 | ||||
| Anhui XDLK Microsystem Corp. Ltd. Class A | 6,928 | 67 | ||||
| Dong-E-E-Jiao Co. Ltd. Class A | 8,300 | 66 | ||||
| 1 | Central China Securities Co. Ltd. Class H | 246,000 | 66 | |||
| Suzhou Anjie Technology Co. Ltd. Class A | 30,600 | 66 | ||||
| Shenzhen Woer Heat-Shrinkable Material Co. Ltd. Class A | 16,000 | 66 | ||||
| Sichuan EM Technology Co. Ltd. Class A | 12,900 | 66 | ||||
| Skshu Paint Co. Ltd. Class A | 8,724 | 66 | ||||
| Canmax Technologies Co. Ltd. Class A | 9,000 | 66 | ||||
| *,3 | China Bohai Bank Co. Ltd. Class H | 572,000 | 66 | |||
| Yantai China Pet Foods Co. Ltd. Class A | 9,600 | 66 | ||||
18
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Angang Steel Co. Ltd. Class H | 236,000 | 65 | |||
| Xiamen Intretech Inc. Class A | 19,000 | 65 | ||||
| Ecovacs Robotics Co. Ltd. Class A | 6,400 | 65 | ||||
| Xuji Electric Co. Ltd. Class A | 13,900 | 65 | ||||
| *,3 | CanSino Biologics Inc. Class H | 14,400 | 65 | |||
| China Hainan Rubber Industry Group Co. Ltd. Class A | 58,500 | 65 | ||||
| Guangdong Provincial Expressway Development Co. Ltd. Class B | 56,600 | 64 | ||||
| Zhejiang Wanfeng Auto Wheel Co. Ltd. Class A | 26,700 | 64 | ||||
| Shenzhen H&T Intelligent Control Co. Ltd. Class A | 12,000 | 64 | ||||
| * | Pangang Group Vanadium Titanium & Resources Co. Ltd. Class A | 103,900 | 64 | |||
| Bright Dairy & Food Co. Ltd. Class A | 55,600 | 64 | ||||
| Bank of Suzhou Co. Ltd. Class A | 54,000 | 64 | ||||
| Qingdao East Steel Tower Stock Co. Ltd. Class A | 16,000 | 64 | ||||
| Ningbo Ligong Environment & Energy Technology Co. Ltd. Class A | 31,300 | 64 | ||||
| Xinhua Winshare Publishing & Media Co. Ltd. Class H | 48,000 | 63 | ||||
| * | OFILM Group Co. Ltd. Class A | 43,800 | 63 | |||
| Lepu Medical Technology Beijing Co. Ltd. Class A | 23,400 | 63 | ||||
| Luxi Chemical Group Co. Ltd. Class A | 23,200 | 63 | ||||
| Jiangsu Financial Leasing Co. Ltd. Class A | 66,600 | 63 | ||||
| Huaxin Building Materials Group Co. Ltd. Class A | 18,500 | 63 | ||||
| *,3 | Bairong Inc. Class B | 51,500 | 63 | |||
| Tongling Jingda Special Magnet Wire Co. Ltd. Class A | 28,100 | 63 | ||||
| North Copper Co. Ltd. Class A | 24,000 | 63 | ||||
| Thunder Software Technology Co. Ltd. Class A | 5,800 | 62 | ||||
| 3 | Zhou Hei Ya International Holdings Co. Ltd. | 310,000 | 62 | |||
| Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. Class A | 11,000 | 62 | ||||
| Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A | 42,700 | 62 | ||||
| * | Tianfeng Securities Co. Ltd. Class A | 103,500 | 62 | |||
| Bestechnic Shanghai Co. Ltd. Class A | 2,067 | 62 | ||||
| Sany Renewable Energy Co. Ltd. Class A | 15,987 | 62 | ||||
| Shenzhen Bluetrum Technology Co. Ltd. Class A | 3,100 | 62 | ||||
| Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class B | 81,324 | 61 | ||||
| Jiangsu Yangnong Chemical Co. Ltd. Class A | 5,200 | 61 | ||||
| 1,3 | AsiaInfo Technologies Ltd. | 66,000 | 61 | |||
| Guangxi Yuegui Guangye Holding Co. Ltd. Class A | 18,300 | 61 | ||||
| China Yongda Automobiles Services Holdings Ltd. | 307,500 | 60 | ||||
| Changchun Faway Automobile Components Co. Ltd. Class A | 38,000 | 60 | ||||
| * | Seazen Holdings Co. Ltd. Class A | 24,500 | 60 | |||
| LexinFintech Holdings Ltd. ADR | 20,621 | 60 | ||||
| Hengdian Group DMEGC Magnetics Co. Ltd. Class A | 18,600 | 60 | ||||
| Weihai Guangwei Composites Co. Ltd. Class A | 10,120 | 60 | ||||
| * | Sai Micro Electronics Inc. Class A | 7,600 | 60 | |||
| Ningbo Zhenyu Technology Co. Ltd. Class A | 2,520 | 60 | ||||
| * | Antong Holdings Co. Ltd. Class A | 82,200 | 60 | |||
| Meihua Holdings Group Co. Ltd. Class A | 35,700 | 60 | ||||
| * | Hangzhou Iron & Steel Co. Class A | 41,300 | 60 | |||
| * | Forehope Electronic Ningbo Co. Ltd. Class A | 8,288 | 60 | |||
| Guangzhou Yuexiu Capital Holdings Group Co. Ltd. Class A | 42,300 | 59 | ||||
| 3 | Everbright Securities Co. Ltd. Class H | 53,832 | 59 | |||
| Shandong Dongyue Silicone Material Co. Ltd. Class A | 27,800 | 59 | ||||
| Yunnan Lincang Xinyuan Germanium Industrial Co. Ltd. Class A | 8,400 | 59 | ||||
| * | Xinte Energy Co. Ltd. Class H | 64,400 | 59 | |||
| *,1,3 | Haichang Ocean Park Holdings Ltd. | 868,000 | 59 | |||
| Tibet Huayu Mining Co. Ltd. Class A | 10,400 | 59 | ||||
| * | Sohu.com Ltd. ADR | 3,500 | 58 | |||
| Jiangsu Expressway Co. Ltd. Class A | 33,100 | 58 | ||||
| Keda Industrial Group Co. Ltd. Class A | 22,300 | 58 | ||||
| Opple Lighting Co. Ltd. Class A | 21,400 | 58 | ||||
| Joinn Laboratories China Co. Ltd. Class A | 10,897 | 58 | ||||
| BBMG Corp. Class H | 521,000 | 57 | ||||
| Beijing Tiantan Biological Products Corp. Ltd. Class A | 23,880 | 57 | ||||
| Asymchem Laboratories Tianjin Co. Ltd. Class A | 4,000 | 57 | ||||
| * | HealthyWay Inc. | 85,500 | 57 | |||
| NetDragon Websoft Holdings Ltd. | 48,500 | 56 | ||||
| * | China Education Group Holdings Ltd. | 151,000 | 56 | |||
| Oppein Home Group Inc. Class A | 6,699 | 56 | ||||
| Jack Technology Co. Ltd. Class A | 8,600 | 56 | ||||
| * | Tsinghua Tongfang Co. Ltd. Class A | 40,400 | 56 | |||
| * | Hangzhou Lion Microelectronics Co. Ltd. Class A | 9,200 | 56 | |||
| Hebei Sinopack Electronic Technology Co. Ltd. Class A | 4,788 | 56 | ||||
19
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | DingDong Cayman Ltd. ADR | 19,553 | 56 | |||
| Shanghai Beite Technology Group Co. Ltd. Class A | 7,200 | 56 | ||||
| Transfar Zhilian Co. Ltd. Class A | 54,900 | 55 | ||||
| HLA Group Corp. Ltd. Class A | 58,213 | 55 | ||||
| * | Gaotu Techedu Inc. ADR | 25,097 | 55 | |||
| Fulin Precision Co. Ltd. Class A | 20,930 | 55 | ||||
| Jiangsu Jiejie Microelectronics Co. Ltd. Class A | 11,000 | 55 | ||||
| Ming Yuan Cloud Group Holdings Ltd. | 166,000 | 55 | ||||
| * | CanSino Biologics Inc. Class A | 5,234 | 55 | |||
| DeHua TB New Decoration Materials Co. Ltd. Class A | 22,500 | 55 | ||||
| Shenyang Fortune Precision Equipment Co. Ltd. Class A | 3,425 | 55 | ||||
| Red Avenue New Materials Group Co. Ltd. Class A | 6,100 | 54 | ||||
| YGSOFT Inc. Class A | 55,440 | 54 | ||||
| Intco Medical Technology Co. Ltd. Class A | 8,400 | 54 | ||||
| * | Chengxin Lithium Group Co. Ltd. Class A | 8,700 | 54 | |||
| Anjoy Foods Group Co. Ltd. Class A | 3,900 | 54 | ||||
| Shui On Land Ltd. | 632,500 | 53 | ||||
| China Zhenhua Group Science & Technology Co. Ltd. Class A | 6,300 | 53 | ||||
| Hisense Visual Technology Co. Ltd. Class A | 16,100 | 53 | ||||
| * | Beijing Capital Development Co. Ltd. Class A | 64,600 | 53 | |||
| * | Ningbo Shanshan Co. Ltd. Class A | 24,200 | 53 | |||
| Xiamen International Airport Co. Ltd. Class A | 20,700 | 53 | ||||
| First Capital Securities Co. Ltd. Class A | 48,000 | 53 | ||||
| Zhejiang Dingli Machinery Co. Ltd. Class A | 6,200 | 53 | ||||
| Xinyi Energy Holdings Ltd. | 324,800 | 53 | ||||
| *,3 | Ocumension Therapeutics | 55,500 | 53 | |||
| Minmetals Capital Co. Ltd. Class A | 63,200 | 53 | ||||
| Xi'an Bright Laser Technologies Co. Ltd. Class A | 3,206 | 53 | ||||
| Tong Ren Tang Technologies Co. Ltd. Class H | 93,000 | 52 | ||||
| Grinm Advanced Materials Co. Ltd. Class A | 13,800 | 52 | ||||
| People.cn Co. Ltd. Class A | 15,200 | 52 | ||||
| Beijing Sinnet Technology Co. Ltd. Class A | 20,400 | 52 | ||||
| * | Bohai Leasing Co. Ltd. Class A | 68,400 | 52 | |||
| PhiChem Corp. Class A | 11,200 | 52 | ||||
| Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd. Class A | 24,000 | 52 | ||||
| * | Shanghai Aiko Solar Energy Co. Ltd. Class A | 24,700 | 52 | |||
| China Southern Power Grid Energy Storage Co. Ltd. Class A | 24,100 | 52 | ||||
| Xiamen Amoytop Biotech Co. Ltd. Class A | 4,762 | 52 | ||||
| Capital Securities Co. Ltd. Class A | 19,600 | 52 | ||||
| Ferrotec Anhui Technology Development Co. Ltd. Class A | 8,900 | 52 | ||||
| * | Shenzhen Investment Ltd. | 478,000 | 51 | |||
| Hisense Home Appliances Group Co. Ltd. Class A | 14,700 | 51 | ||||
| * | GCL System Integration Technology Co. Ltd. Class A | 69,800 | 51 | |||
| Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A | 9,000 | 51 | ||||
| Gansu Yasheng Industrial Group Co. Ltd. Class A | 88,700 | 51 | ||||
| Beijing Sifang Automation Co. Ltd. Class A | 7,750 | 51 | ||||
| * | AECC Aero Science & Technology Co. Ltd. Class A | 6,700 | 51 | |||
| * | Anhui Truchum Advanced Materials & Technology Co. Ltd. Class A | 25,500 | 51 | |||
| Sichuan Development Lomon Co. Ltd. Class A | 25,800 | 51 | ||||
| *,1 | Qunabox Group Ltd. | 17,700 | 51 | |||
| DHC Software Co. Ltd. Class A | 35,800 | 50 | ||||
| Sino-Platinum Metals Co. Ltd. Class A | 13,363 | 50 | ||||
| Wuhan DR Laser Technology Corp. Ltd. Class A | 3,584 | 50 | ||||
| Shenzhen Kstar Science & Technology Co. Ltd. Class A | 6,000 | 50 | ||||
| 3 | Joinn Laboratories China Co. Ltd. Class H | 18,132 | 50 | |||
| Shanghai Huace Navigation Technology Ltd. Class A | 9,020 | 50 | ||||
| Beijing Easpring Material Technology Co. Ltd. Class A | 5,900 | 49 | ||||
| Heilongjiang Agriculture Co. Ltd. Class A | 20,900 | 49 | ||||
| China Resources Medical Holdings Co. Ltd. | 124,500 | 49 | ||||
| G-bits Network Technology Xiamen Co. Ltd. Class A | 800 | 49 | ||||
| Shanghai Jinjiang International Hotels Co. Ltd. Class A | 11,800 | 49 | ||||
| Yifeng Pharmacy Chain Co. Ltd. Class A | 13,900 | 49 | ||||
| * | Bestway Marine & Energy Technology Co. Ltd. Class A | 34,700 | 49 | |||
| Eastern Air Logistics Co. Ltd. Class A | 17,700 | 49 | ||||
| * | Jushri Technologies Inc. Class A | 8,000 | 49 | |||
| Shuanglin Co. Ltd. Class A | 9,200 | 49 | ||||
| Keli Sensing Technology Ningbo Co. Ltd. Class A | 5,200 | 49 | ||||
| Chengdu Kanghong Pharmaceutical Group Co. Ltd. Class A | 11,200 | 48 | ||||
| Zhejiang Huahai Pharmaceutical Co. Ltd. Class A | 20,400 | 48 | ||||
| Shanghai AtHub Co. Ltd. Class A | 8,001 | 48 | ||||
20
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Youngor Fashion Co. Ltd. Class A | 44,999 | 48 | ||||
| * | Shanghai DZH Ltd. Class A | 27,000 | 48 | |||
| * | GoodWe Technologies Co. Ltd. Class A | 3,758 | 48 | |||
| Shanghai Zhonggu Logistics Co. Ltd. Class A | 30,192 | 48 | ||||
| Shenzhen Zhaowei Machinery & Electronic Co. Ltd. Class A | 2,800 | 48 | ||||
| * | MGI Tech Co. Ltd. Class A | 5,139 | 48 | |||
| Fortior Technology Shenzhen Co. Ltd. Class A | 1,725 | 48 | ||||
| Hesteel Co. Ltd. Class A | 121,900 | 47 | ||||
| Jointown Pharmaceutical Group Co. Ltd. Class A | 61,366 | 47 | ||||
| * | 3peak Inc. Class A | 1,817 | 47 | |||
| Henan Liliang Diamond Co. Ltd. Class A | 6,600 | 47 | ||||
| Qilu Bank Co. Ltd. Class A | 56,600 | 47 | ||||
| Espressif Systems Shanghai Co. Ltd. Class A | 1,909 | 47 | ||||
| Castech Inc. Class A | 4,500 | 47 | ||||
| Ningbo Huaxiang Electronic Co. Ltd. Class A | 10,000 | 46 | ||||
| Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. Class A | 38,400 | 46 | ||||
| * | Siasun Robot & Automation Co. Ltd. Class A | 17,900 | 46 | |||
| * | Angang Steel Co. Ltd. Class A | 118,000 | 46 | |||
| Meinian Onehealth Healthcare Holdings Co. Ltd. Class A | 45,300 | 46 | ||||
| China Tianying Inc. Class A | 45,200 | 46 | ||||
| CQ Pharmaceutical Holding Co. Ltd. Class A | 52,800 | 46 | ||||
| Lakala Payment Co. Ltd. Class A | 11,000 | 46 | ||||
| Digital China Group Co. Ltd. Class A | 7,700 | 46 | ||||
| Nantong Jianghai Capacitor Co. Ltd. Class A | 9,500 | 46 | ||||
| * | Youdao Inc. ADR | 4,261 | 46 | |||
| Chongqing Sanfeng Environment Group Corp. Ltd. Class A | 35,200 | 46 | ||||
| Bank of Chongqing Co. Ltd. Class A | 32,400 | 46 | ||||
| Jiangsu Azure Corp. Class A | 18,100 | 46 | ||||
| Shenzhen Topband Co. Ltd. Class A | 24,000 | 46 | ||||
| Jinan Shengquan Group Share Holding Co. Ltd. Class A | 9,400 | 46 | ||||
| * | CETC Chips Technology Inc. Class A | 16,200 | 46 | |||
| POCO Holding Co. Ltd. Class A | 3,600 | 46 | ||||
| * | Beijing BDStar Navigation Co. Ltd. Class A | 6,976 | 45 | |||
| Sealand Securities Co. Ltd. Class A | 73,800 | 45 | ||||
| Jason Furniture Hangzhou Co. Ltd. Class A | 8,700 | 45 | ||||
| MLS Co. Ltd. Class A | 34,200 | 45 | ||||
| Hubei Jumpcan Pharmaceutical Co. Ltd. Class A | 11,000 | 45 | ||||
| Sinofibers Technology Co. Ltd. Class A | 6,900 | 45 | ||||
| Xiamen Xiangyu Co. Ltd. Class A | 36,100 | 45 | ||||
| Zhende Medical Co. Ltd. Class A | 3,500 | 45 | ||||
| * | Yibin Tianyuan Group Co. Ltd. Class A | 47,940 | 45 | |||
| Shijiazhuang Shangtai Technology Co. Ltd. Class A | 3,900 | 45 | ||||
| * | Suzhou Novosense Microelectronics Co. Ltd. Class A | 1,804 | 45 | |||
| * | Vantone Neo Development Group Co. Ltd. Class A | 25,100 | 45 | |||
| CIG Shanghai Co. Ltd. Class A | 3,000 | 45 | ||||
| Chengdu Hi-tech Development Co. Ltd. Class A | 5,400 | 45 | ||||
| * | Kangmei Pharmaceutical Co. Ltd. Class A | 160,600 | 45 | |||
| Hand Enterprise Solutions Co. Ltd. Class A | 11,800 | 44 | ||||
| Livzon Pharmaceutical Group Inc. Class A | 8,500 | 44 | ||||
| * | Sichuan Hexie Shuangma Co. Ltd. Class A | 10,400 | 44 | |||
| Shanghai M&G Stationery Inc. Class A | 11,100 | 44 | ||||
| Jiangsu Nhwa Pharmaceutical Co. Ltd. Class A | 12,800 | 44 | ||||
| Shanghai Belling Co. Ltd. Class A | 9,600 | 44 | ||||
| 1,3 | Jiumaojiu International Holdings Ltd. | 167,000 | 44 | |||
| Beijing Capital Eco-Environment Protection Group Co. Ltd. Class A | 95,900 | 44 | ||||
| Baowu Magnesium Technology Co. Ltd. Class A | 13,820 | 44 | ||||
| Guangdong Aofei Data Technology Co. Ltd. Class A | 11,507 | 44 | ||||
| Shenzhen SED Industry Co. Ltd. Class A | 14,600 | 44 | ||||
| China Railway Construction Heavy Industry Corp. Ltd. Class A | 55,832 | 44 | ||||
| * | JoulWatt Technology Co. Ltd. Class A | 5,164 | 44 | |||
| * | Transwarp Technology Shanghai Co. Ltd. Class A | 1,328 | 44 | |||
| China Oriental Group Co. Ltd. | 214,000 | 43 | ||||
| Shanghai Yuyuan Tourist Mart Group Co. Ltd. Class A | 57,800 | 43 | ||||
| SPIC Green Energy Co. Ltd. Class A | 37,000 | 43 | ||||
| Chongqing Zongshen Power Machinery Co. Ltd. Class A | 13,900 | 43 | ||||
| Zhongshan Broad Ocean Motor Co. Ltd. Class A | 27,000 | 43 | ||||
| Sinotruk Jinan Truck Co. Ltd. Class A | 14,420 | 43 | ||||
| Hongta Securities Co. Ltd. Class A | 36,200 | 43 | ||||
| Shenzhen Batian Ecotypic Engineering Co. Ltd. Class A | 20,200 | 43 | ||||
| Chongqing Fuling Electric Power Industrial Co. Ltd. Class A | 22,048 | 43 | ||||
21
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Shanghai Daimay Automotive Interior Co. Ltd. Class A | 26,777 | 43 | ||||
| * | Suzhou Everbright Photonics Co. Ltd. Class A | 1,831 | 43 | |||
| Huaming Power Equipment Co. Ltd. Class A | 8,700 | 43 | ||||
| * | Dizal Jiangsu Pharmaceutical Co. Ltd. Class A | 5,728 | 43 | |||
| Qingdao Huicheng Environmental Technology Group Co. Ltd. Class A | 2,900 | 43 | ||||
| CSG Holding Co. Ltd. Class B | 192,800 | 42 | ||||
| CETC Potevio Science & Technology Co. Ltd. Class A | 9,000 | 42 | ||||
| Fujian Sunner Development Co. Ltd. Class A | 14,900 | 42 | ||||
| Hainan Strait Shipping Co. Ltd. Class A | 27,750 | 42 | ||||
| Xiamen C & D Inc. Class A | 29,900 | 42 | ||||
| Tongyu Communication Inc. Class A | 5,980 | 42 | ||||
| Sunstone Development Co. Ltd. Class A | 8,200 | 42 | ||||
| * | BAIC Foton Motor Co. Ltd. Class A | 89,300 | 42 | |||
| Jade Bird Fire Co. Ltd. Class A | 24,528 | 42 | ||||
| Wuxi NCE Power Co. Ltd. Class A | 6,124 | 42 | ||||
| * | Pengxin International Mining Co. Ltd. Class A | 27,900 | 42 | |||
| Jiangsu Jiangyin Rural Commercial Bank Co. Ltd. Class A | 61,200 | 41 | ||||
| Gaona Aero Material Co. Ltd. Class A | 11,680 | 41 | ||||
| Quectel Wireless Solutions Co. Ltd. Class A | 3,269 | 41 | ||||
| Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A | 26,300 | 41 | ||||
| 3 | Sunac Services Holdings Ltd. | 244,000 | 41 | |||
| Hunan TV & Broadcast Intermediary Co. Ltd. Class A | 24,300 | 41 | ||||
| Sichuan New Energy Power Co. Ltd. Class A | 19,600 | 41 | ||||
| GCL Energy Technology Co. Ltd. Class A | 19,800 | 41 | ||||
| Huali Industrial Group Co. Ltd. Class A | 5,900 | 41 | ||||
| Liaoning Chengda Biotechnology Co. Ltd. Class A | 10,939 | 41 | ||||
| * | Tonghua Golden-Horse Pharmaceutical Industry Co. Ltd. Class A | 12,200 | 41 | |||
| Nanjing Les Information Technology Co. Ltd. Class A | 4,062 | 41 | ||||
| Gambol Pet Group Co. Ltd. Class A | 4,600 | 41 | ||||
| China Lilang Ltd. | 95,000 | 40 | ||||
| STO Express Co. Ltd. Class A | 19,900 | 40 | ||||
| Leyard Optoelectronic Co. Ltd. Class A | 32,400 | 40 | ||||
| 1,3 | A-Living Smart City Services Co. Ltd. Class H | 141,500 | 40 | |||
| Guangzhou Restaurant Group Co. Ltd. Class A | 15,300 | 40 | ||||
| Shandong Hi-speed Co. Ltd. Class A | 28,300 | 40 | ||||
| Guangzhou Baiyun International Airport Co. Ltd. Class A | 29,000 | 40 | ||||
| Sichuan Yahua Industrial Group Co. Ltd. Class A | 10,000 | 40 | ||||
| Guangdong Dowstone Technology Co. Ltd. Class A | 9,200 | 40 | ||||
| Longshine Technology Group Co. Ltd. Class A | 14,500 | 40 | ||||
| Shanghai Liangxin Electrical Co. Ltd. Class A | 23,700 | 40 | ||||
| * | Shanghai Junshi Biosciences Co. Ltd. Class A | 8,006 | 40 | |||
| Changshu Tianyin Electromechanical Co. Ltd. Class A | 6,000 | 40 | ||||
| Hubei Yihua Chemical Industry Co. Ltd. Class A | 15,100 | 40 | ||||
| Yunnan Botanee Bio-Technology Group Co. Ltd. Class A | 5,800 | 40 | ||||
| Bloomage Biotechnology Corp. Ltd. Class A | 5,791 | 40 | ||||
| * | TRS Information Technology Corp. Ltd. Class A | 11,900 | 40 | |||
| Yili Chuanning Biotechnology Co. Ltd. Class A | 24,200 | 40 | ||||
| * | EFORT Intelligent Robot Co. Ltd. | 13,308 | 40 | |||
| * | Guocheng Mining Co. Ltd. Class A | 7,100 | 39 | |||
| Shandong Linglong Tyre Co. Ltd. Class A | 17,700 | 39 | ||||
| Valiant Co. Ltd. Class A | 15,000 | 39 | ||||
| *,3 | JS Global Lifestyle Co. Ltd. | 166,500 | 39 | |||
| Fibocom Wireless Inc. Class A | 8,820 | 39 | ||||
| * | Hainan Meilan International Airport Co. Ltd. Class H | 35,000 | 39 | |||
| City Development Environment Co. Ltd. Class A | 18,700 | 39 | ||||
| Arcsoft Corp. Ltd. Class A | 5,407 | 39 | ||||
| Wuxi Paike New Materials Technology Co. Ltd. Class A | 2,300 | 39 | ||||
| Nantong Jiangshan Agrochemical & Chemical LLC Class A | 8,900 | 39 | ||||
| Dongfang Electronics Co. Ltd. Class A | 19,200 | 39 | ||||
| * | Suzhou Zelgen Biopharmaceutical Co. Ltd. Class A | 3,274 | 39 | |||
| * | Shanghai Electric Wind Power Group Co. Ltd. Class A | 18,168 | 39 | |||
| * | COL Group Co. Ltd. Class A | 8,500 | 39 | |||
| Guangdong Provincial Expressway Development Co. Ltd. Class A | 21,500 | 38 | ||||
| China TransInfo Technology Co. Ltd. Class A | 22,600 | 38 | ||||
| Tinergy Chemical Co. Ltd. Class A | 47,400 | 38 | ||||
| Zhejiang Orient Holdings Group Co. Ltd. Class A | 39,400 | 38 | ||||
| DBG Technology Co. Ltd. Class A | 9,800 | 38 | ||||
| COFCO Capital Holdings Co. Ltd. Class A | 23,700 | 38 | ||||
| Lianhe Chemical Technology Co. Ltd. Class A | 14,000 | 38 | ||||
| Shandong Dawn Polymer Co. Ltd. Class A | 9,000 | 38 | ||||
22
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 3 | Medlive Technology Co. Ltd. | 33,000 | 38 | |||
| Shantui Construction Machinery Co. Ltd. Class A | 19,400 | 38 | ||||
| Shanghai Huafon Aluminium Corp. Class A | 10,400 | 38 | ||||
| *,1 | Fenbi Ltd. | 199,500 | 38 | |||
| Linktel Technologies Co. Ltd. Class A | 1,400 | 38 | ||||
| * | SOHO China Ltd. | 576,000 | 37 | |||
| * | Hytera Communications Corp. Ltd. Class A | 23,100 | 37 | |||
| Chengdu Xingrong Environment Co. Ltd. Class A | 34,300 | 37 | ||||
| Shenzhen Agricultural Power Group Co. Ltd. Class A | 28,200 | 37 | ||||
| Huaxi Securities Co. Ltd. Class A | 28,500 | 37 | ||||
| China Film Group Co. Ltd. Class A | 16,828 | 37 | ||||
| Shanghai Pudong Construction Co. Ltd. Class A | 31,700 | 37 | ||||
| Eastern Communications Co. Ltd. Class A | 13,600 | 37 | ||||
| State Grid Information & Communication Co. Ltd. Class A | 12,700 | 37 | ||||
| Autel Intelligent Technology Corp. Ltd. Class A | 7,014 | 37 | ||||
| Henan Mingtai Al Industrial Co. Ltd. Class A | 14,900 | 37 | ||||
| Rianlon Corp. Class A | 5,125 | 37 | ||||
| * | Qi An Xin Technology Group Inc. Class A | 7,104 | 37 | |||
| Nanjing Pharmaceutical Group Co. Ltd. | 46,300 | 37 | ||||
| 1 | Digital China Holdings Ltd. | 107,000 | 36 | |||
| Sunward Intelligent Equipment Co. Ltd. Class A | 20,700 | 36 | ||||
| Yantai Dongcheng Pharmaceutical Co. Ltd. Class A | 18,700 | 36 | ||||
| Zhejiang Supor Co. Ltd. Class A | 5,600 | 36 | ||||
| Zhejiang Meida Industrial Co. Ltd. Class A | 25,900 | 36 | ||||
| Tasly Pharmaceutical Group Co. Ltd. Class A | 16,900 | 36 | ||||
| Guangdong Dongfang Precision Science & Technology Co. Ltd. Class A | 13,700 | 36 | ||||
| Shanghai Pret Composites Co. Ltd. Class A | 13,700 | 36 | ||||
| * | Merit Interactive Co. Ltd. Class A | 5,500 | 36 | |||
| China Kings Resources Group Co. Ltd. Class A | 11,088 | 36 | ||||
| Qingdao Sentury Tire Co. Ltd. Class A | 12,040 | 36 | ||||
| Lihuayi Weiyuan Chemical Co. Ltd. Class A | 12,100 | 36 | ||||
| Giantec Semiconductor Corp. Class A | 1,729 | 36 | ||||
| Shenzhen CECport Technologies Co. Ltd. Class A | 10,100 | 36 | ||||
| * | Shenzhen Overseas Chinese Town Co. Ltd. Class A | 92,900 | 35 | |||
| YUNDA Holding Group Co. Ltd. Class A | 34,200 | 35 | ||||
| 1 | BOE Varitronix Ltd. | 59,000 | 35 | |||
| Grandblue Environment Co. Ltd. Class A | 8,500 | 35 | ||||
| * | Nanfang Pump Industry Co. Ltd. Class A | 48,400 | 35 | |||
| DaShenLin Pharmaceutical Group Co. Ltd. Class A | 12,400 | 35 | ||||
| Guangdong Great River Smarter Logistics Co. Ltd. Class A | 17,600 | 35 | ||||
| * | Minmetals Development Co. Ltd. Class A | 17,300 | 35 | |||
| * | Risen Energy Co. Ltd. Class A | 11,800 | 35 | |||
| Shenyang Xingqi Pharmaceutical Co. Ltd. Class A | 3,292 | 35 | ||||
| Jinko Power Technology Co. Ltd. Class A | 50,100 | 35 | ||||
| Sichuan Jiuzhou Electric Co. Ltd. Class A | 13,800 | 35 | ||||
| Winner Medical Co. Ltd. Class A | 6,800 | 35 | ||||
| BrightGene Bio-Medical Technology Co. Ltd. Class A | 5,252 | 35 | ||||
| China Automotive Engineering Research Institute Co. Ltd. Class A | 12,000 | 35 | ||||
| Foryou Corp. Class A | 7,200 | 35 | ||||
| AIMA Technology Group Co. Ltd. Class A | 8,250 | 35 | ||||
| Shandong Weifang Rainbow Chemical Co. Ltd. Class A | 2,900 | 35 | ||||
| Caida Securities Co. Ltd. Class A | 34,900 | 35 | ||||
| Zhuhai CosMX Battery Co. Ltd. Class A | 12,702 | 35 | ||||
| Kunshan Kinglai Hygienic Materials Co. Ltd. Class A | 4,200 | 35 | ||||
| Jiangsu Dingsheng New Energy Materials Co. Ltd. Class A | 11,700 | 35 | ||||
| Jiangsu Suzhou Rural Commercial Bank Co. Ltd. Class A | 47,740 | 35 | ||||
| * | Ningbo Jifeng Auto Parts Co. Ltd. Class A | 16,600 | 35 | |||
| Jiayou International Logistics Co. Ltd. Class A | 15,400 | 35 | ||||
| China Railway Special Cargo Logistics Co. Ltd. Class A | 57,600 | 35 | ||||
| * | BGI Genomics Co. Ltd. Class A | 4,800 | 34 | |||
| Jinyu Bio-Technology Co. Ltd. Class A | 14,500 | 34 | ||||
| Beijing Zhong Ke San Huan High-Tech Co. Ltd. Class A | 15,300 | 34 | ||||
| Guangdong Zhongsheng Pharmaceutical Co. Ltd. Class A | 12,300 | 34 | ||||
| Betta Pharmaceuticals Co. Ltd. Class A | 5,100 | 34 | ||||
| Fangda Special Steel Technology Co. Ltd. Class A | 31,800 | 34 | ||||
| Anhui Heli Co. Ltd. Class A | 10,500 | 34 | ||||
| By-health Co. Ltd. Class A | 19,400 | 34 | ||||
| *,1 | Yeahka Ltd. | 33,200 | 34 | |||
| Yankershop Food Co. Ltd. Class A | 3,530 | 34 | ||||
| * | Xinxiang Chemical Fiber Co. Ltd. Class A | 31,700 | 34 | |||
23
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Xiamen Bank Co. Ltd. Class A | 31,800 | 34 | ||||
| Sineng Electric Co. Ltd. Class A | 6,501 | 34 | ||||
| TDG Holdings Co. Ltd. Class A | 13,600 | 34 | ||||
| * | Xiangtan Electric Manufacturing Co. Ltd. Class A | 15,900 | 34 | |||
| Shanghai Highly Group Co. Ltd. Class A | 12,300 | 34 | ||||
| Southchip Semiconductor Technology Shanghai Co. Ltd. Class A | 5,409 | 34 | ||||
| Zhejiang Provincial New Energy Investment Group Co. Ltd. Class A | 28,400 | 34 | ||||
| * | Bringspring Science & Technology Co. Ltd. Class A | 13,300 | 34 | |||
| IKD Co. Ltd. Class A | 12,400 | 33 | ||||
| BTG Hotels Group Co. Ltd. Class A | 13,000 | 33 | ||||
| CSSC Science & Technology Co. Ltd. Class A | 17,200 | 33 | ||||
| Sino Wealth Electronic Ltd. Class A | 7,469 | 33 | ||||
| Zhejiang Daily Digital Culture Group Co. Ltd. Class A | 15,600 | 33 | ||||
| COSCO SHIPPING Specialized Carriers Co. Ltd. Class A | 27,500 | 33 | ||||
| Ningbo Ronbay New Energy Technology Co. Ltd. Class A | 7,016 | 33 | ||||
| Jiangsu Cnano Technology Co. Ltd. Class A | 4,821 | 33 | ||||
| China National Gold Group Gold Jewellery Co. Ltd. Class A | 19,800 | 33 | ||||
| * | Huludao Zinc Industry Co. Class A | 32,100 | 33 | |||
| * | Zhihu Inc. ADR | 9,804 | 33 | |||
| * | Shenzhen Ysstech Info-tech Co. Ltd. Class A | 9,800 | 32 | |||
| Shanghai Jahwa United Co. Ltd. Class A | 9,800 | 32 | ||||
| * | Digital China Information Service Group Co. Ltd. Class A | 11,800 | 32 | |||
| * | China Aluminum International Engineering Corp. Ltd. Class A | 33,900 | 32 | |||
| * | Offcn Education Technology Co. Ltd. Class A | 74,000 | 32 | |||
| Zhejiang HangKe Technology Inc. Co. Class A | 7,252 | 32 | ||||
| China Southern Power Grid Energy Efficiency&Clean Energy Co. Ltd. Class A | 26,800 | 32 | ||||
| Xinxiang Richful Lube Additive Co. Ltd. Class A | 3,670 | 32 | ||||
| Lizhong Sitong Light Alloys Group Co. Ltd. Class A | 8,500 | 32 | ||||
| Primarius Technologies Co. Ltd. Class A | 5,955 | 32 | ||||
| Willfar Information Technology Co. Ltd. Class A | 4,990 | 32 | ||||
| Servyou Software Group Co. Ltd. Class A | 3,600 | 32 | ||||
| Zhejiang Asia-Pacific Mechanical & Electronic Co. Ltd. Class A | 13,100 | 32 | ||||
| Shanghai Jinjiang International Hotels Co. Ltd. Class B | 21,100 | 31 | ||||
| Chengdu CORPRO Technology Co. Ltd. Class A | 7,900 | 31 | ||||
| Walvax Biotechnology Co. Ltd. Class A | 17,000 | 31 | ||||
| Zhejiang Jiemei Electronic & Technology Co. Ltd. Class A | 5,000 | 31 | ||||
| Bank of Qingdao Co. Ltd. Class A | 39,700 | 31 | ||||
| Chongqing Water Group Co. Ltd. Class A | 45,700 | 31 | ||||
| Tonghua Dongbao Pharmaceutical Co. Ltd. Class A | 23,500 | 31 | ||||
| Joincare Pharmaceutical Group Industry Co. Ltd. Class A | 18,700 | 31 | ||||
| Xiamen ITG Group Corp. Ltd. Class A | 32,000 | 31 | ||||
| Concord New Energy Group Ltd. | 820,000 | 31 | ||||
| Topchoice Medical Corp. Class A | 4,207 | 31 | ||||
| Beijing Fengjing Automotive Parts Co. Ltd. | 50,300 | 31 | ||||
| Zhuzhou Hongda Electronics Corp. Ltd. Class A | 4,000 | 31 | ||||
| Innuovo Technology Co. Ltd. Class A | 19,400 | 31 | ||||
| Beijing United Information Technology Co. Ltd. Class A | 7,830 | 31 | ||||
| * | Vcanbio Cell & Gene Engineering Corp. Ltd. Class A | 7,700 | 31 | |||
| * | Guangdong Create Century Intelligent Equipment Group Corp. Ltd. Class A | 23,800 | 31 | |||
| Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H | 17,500 | 31 | ||||
| Shanghai Hanbell Precise Machinery Co. Ltd. Class A | 7,600 | 31 | ||||
| * | Xinzhi Group Co. Ltd. Class A | 8,300 | 31 | |||
| Tibet Mineral Development Co. Ltd. Class A | 6,700 | 31 | ||||
| Guizhou Chanhen Chemical Corp. Class A | 4,900 | 31 | ||||
| * | Farasis Energy Gan Zhou Co. Ltd. Class A | 14,630 | 31 | |||
| China Resources Jiangzhong Pharmaceutical Co. Ltd. Class A | 8,600 | 31 | ||||
| Toread Holdings Group Co. Ltd. Class A | 14,500 | 31 | ||||
| * | Inner Mongolia Furui Medical Science Co. Ltd. Class A | 3,300 | 31 | |||
| Huada Automotive Technology Corp. Ltd. Class A | 4,200 | 31 | ||||
| Hangzhou Robam Appliances Co. Ltd. Class A | 9,800 | 30 | ||||
| Hefei Meiya Optoelectronic Technology Inc. Class A | 10,400 | 30 | ||||
| Zhejiang Weixing New Building Materials Co. Ltd. Class A | 16,600 | 30 | ||||
| BBMG Corp. Class A | 100,200 | 30 | ||||
| * | Chongqing Iron & Steel Co. Ltd. Class A | 126,900 | 30 | |||
| Wangfujing Group Co. Ltd. Class A | 14,800 | 30 | ||||
| Hexing Electrical Co. Ltd. Class A | 5,300 | 30 | ||||
| Zhejiang Jingu Co. Ltd. Class A | 15,900 | 30 | ||||
| * | Zhejiang Jinke Tom Culture Industry Co. Ltd. Class A | 41,200 | 30 | |||
| Gansu Shangfeng Cement Co. Ltd. Class A | 14,720 | 30 | ||||
| Shanghai Tongji Science & Technology Industrial Co. Ltd. Class A | 15,600 | 30 | ||||
24
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Black Peony Group Co. Ltd. Class A | 19,800 | 30 | ||||
| Anhui Wanwei Updated High-Tech Material Industry Co. Ltd. Class A | 28,400 | 30 | ||||
| Huadian Heavy Industries Co. Ltd. Class A | 16,700 | 30 | ||||
| * | Hwa Create Co. Ltd. Class A | 7,600 | 30 | |||
| * | Hainan Development Holdings Nanhai Co. Ltd. Class A | 13,500 | 30 | |||
| Zhejiang Jiuzhou Pharmaceutical Co. Ltd. Class A | 11,800 | 30 | ||||
| * | Hainan Drinda New Energy Technology Co. Ltd. Class A | 2,200 | 30 | |||
| *,3 | AInnovation Technology Group Co. Ltd. Class H | 47,200 | 30 | |||
| * | Hymson Laser Technology Group Co. Ltd. Class A | 3,360 | 30 | |||
| *,1 | Adicon Holdings Ltd. | 45,500 | 30 | |||
| *,1 | Gemdale Properties & Investment Corp. Ltd. | 1,474,000 | 29 | |||
| Beijing Dabeinong Technology Group Co. Ltd. Class A | 49,400 | 29 | ||||
| * | Estun Automation Co. Ltd. Class A | 8,500 | 29 | |||
| Wuhan Raycus Fiber Laser Technologies Co. Ltd. Class A | 6,115 | 29 | ||||
| China Resources Double Crane Pharmaceutical Co. Ltd. Class A | 11,000 | 29 | ||||
| * | Greattown Holdings Ltd. Class A | 42,300 | 29 | |||
| Dian Diagnostics Group Co. Ltd. Class A | 8,465 | 29 | ||||
| Cangzhou Dahua Co. Ltd. Class A | 7,900 | 29 | ||||
| * | Hunan Er-Kang Pharmaceutical Co. Ltd. Class A | 44,800 | 29 | |||
| Tibet Urban Development & Investment Co. Ltd. Class A | 13,600 | 29 | ||||
| Guangdong Advertising Group Co. Ltd. Class A | 18,900 | 29 | ||||
| * | Easyhome New Retail Group Co. Ltd. Class A | 67,100 | 29 | |||
| Chengdu RML Technology Co. Ltd. Class A | 3,640 | 29 | ||||
| Jiangsu Haili Wind Power Equipment Technology Co. Ltd. Class A | 2,600 | 29 | ||||
| Fujian Qingshan Paper Industry Co. Ltd. Class A | 52,100 | 29 | ||||
| Zhongmin Energy Co. Ltd. Class A | 31,200 | 29 | ||||
| * | Shandong Iron & Steel Co. Ltd. Class A | 111,100 | 29 | |||
| Changzhou Fusion New Material Co. Ltd. Class A | 1,907 | 29 | ||||
| IReader Technology Co. Ltd. Class A | 6,455 | 28 | ||||
| * | Gemdale Corp. Class A | 58,000 | 28 | |||
| China Merchants Port Group Co. Ltd. Class A | 9,500 | 28 | ||||
| Cheng De Lolo Co. Ltd. Class A | 22,500 | 28 | ||||
| * | BOE HC SemiTek Corp. | 21,700 | 28 | |||
| Electric Connector Technology Co. Ltd. Class A | 4,400 | 28 | ||||
| Shanghai Shyndec Pharmaceutical Co. Ltd. Class A | 17,900 | 28 | ||||
| * | Zhewen Interactive Group Co. Ltd. Class A | 15,700 | 28 | |||
| Beijing GeoEnviron Engineering & Technology Inc. Class A | 14,600 | 28 | ||||
| Shenzhen Expressway Corp. Ltd. Class A | 21,000 | 28 | ||||
| Jiangsu Lihua Foods Group Co. Ltd. | 9,180 | 28 | ||||
| * | YaGuang Technology Group Co. Ltd. Class A | 24,200 | 28 | |||
| * | Wondershare Technology Group Co. Ltd. Class A | 2,237 | 28 | |||
| Pacific Shuanglin Bio-pharmacy Co. Ltd. Class A | 13,624 | 28 | ||||
| Edan Instruments Inc. Class A | 13,000 | 28 | ||||
| Hubei Jiuzhiyang Infrared System Co. Ltd. Class A | 2,700 | 28 | ||||
| * | Roshow Technology Co. Ltd. Class A | 20,400 | 28 | |||
| * | Shanghai Milkground Food Tech Co. Ltd. Class A | 8,600 | 28 | |||
| Jiangsu ToLand Alloy Co. Ltd. Class A | 4,030 | 28 | ||||
| * | Zhejiang Dun'An Artificial Environment Co. Ltd. Class A | 14,300 | 28 | |||
| Innovation New Material Technology Co. Ltd. Class A | 40,700 | 28 | ||||
| Hoymiles Power Electronics Inc. Class A | 1,805 | 28 | ||||
| East China Engineering Science & Technology Co. Ltd. Class A | 15,100 | 28 | ||||
| Ningbo Yongxin Optics Co. Ltd. Class A | 1,500 | 28 | ||||
| Hongrun Construction Group Co. Ltd. Class A | 18,800 | 28 | ||||
| Citic Offshore Helicopter Co. Ltd. Class A | 9,504 | 28 | ||||
| * | Shanghai STEP Electric Corp. Class A | 12,000 | 28 | |||
| Jiangsu Yunyi Electric Co. Ltd. Class A | 12,800 | 28 | ||||
| Guizhou Zhenhua Fengguang Semiconductor Co. Ltd. Class A | 3,021 | 28 | ||||
| Sumec Corp. Ltd. Class A | 14,800 | 28 | ||||
| *,1 | XXF Group Holdings Ltd. | 180,000 | 28 | |||
| Hengdian Entertainment Co. Ltd. Class A | 7,000 | 27 | ||||
| Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd. Class A | 6,900 | 27 | ||||
| Dlg Exhibitions & Events Corp. Ltd. Class A | 15,120 | 27 | ||||
| * | Zhejiang Hisoar Pharmaceutical Co. Ltd. Class A | 23,000 | 27 | |||
| * | Hangjin Technology Co. Ltd. Class A | 7,800 | 27 | |||
| Chengdu Fusen Noble-House Industrial Co. Ltd. Class A | 15,900 | 27 | ||||
| Xinhua Winshare Publishing & Media Co. Ltd. Class A | 13,300 | 27 | ||||
| Wuhan Yangtze Communications Industry Group Co. Ltd. Class A | 4,100 | 27 | ||||
| * | Guizhou Broadcasting & TV Information Network Co. Ltd. Class A | 21,800 | 27 | |||
| Tofflon Science & Technology Group Co. Ltd. Class A | 10,300 | 27 | ||||
| Yusys Technologies Co. Ltd. Class A | 7,680 | 27 | ||||
25
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Lingyun Industrial Corp. Ltd. Class A | 15,990 | 27 | ||||
| Zibo Qixiang Tengda Chemical Co. Ltd. Class A | 30,300 | 27 | ||||
| * | Guangdong Topstar Technology Co. Ltd. Class A | 6,100 | 27 | |||
| Shenzhen Senior Technology Material Co. Ltd. Class A | 13,000 | 27 | ||||
| Chinalin Securities Co. Ltd. Class A | 10,400 | 27 | ||||
| Anhui Jiangnan Chemical Industry Co. Ltd. Class A | 30,200 | 27 | ||||
| * | Guangdong Jia Yuan Technology Shares Co. Ltd. Class A | 4,293 | 27 | |||
| Digiwin Co. Ltd. | 3,800 | 27 | ||||
| NYOCOR Co. Ltd. Class A | 24,700 | 27 | ||||
| * | Shanghai Aerospace Automobile Electromechanical Co. Ltd. Class A | 12,100 | 27 | |||
| Beijing Balance Medical Technology Co. Ltd. Class A | 1,771 | 27 | ||||
| * | Sinocelltech Group Ltd. Class A | 4,651 | 27 | |||
| Hangzhou Honghua Digital Technology Stock Co. Ltd. Class A | 2,176 | 27 | ||||
| Shandong Huatai Paper Industry Shareholding Co. Ltd. Class A | 43,100 | 27 | ||||
| * | Greatoo Intelligent Equipment Inc. Class A | 24,400 | 27 | |||
| Guangdong Guangzhou Daily Media Co. Ltd. Class A | 17,200 | 27 | ||||
| Zhejiang Haikong Nanke Huatie Digital Intelligence & Technology Co. Ltd. | 24,600 | 27 | ||||
| * | Shenzhen Baoming Technology Co. Ltd. Class A | 3,200 | 27 | |||
| Shenzhen Rongda Photosensitive & Technology Co. Ltd. Class A | 4,400 | 27 | ||||
| Hefei Chipmore Technology Co. Ltd. Class A | 12,429 | 27 | ||||
| FAW Jiefang Group Co. Ltd. Class A | 26,200 | 26 | ||||
| Jiangsu Guotai International Group Co. Ltd. Class A | 19,400 | 26 | ||||
| Chongqing Fuling Zhacai Group Co. Ltd. Class A | 13,600 | 26 | ||||
| * | Red Star Macalline Group Corp. Ltd. Class A | 67,700 | 26 | |||
| Jiaze Renewables Co. Ltd. | 25,800 | 26 | ||||
| Xinhuanet Co. Ltd. Class A | 7,670 | 26 | ||||
| Zhuzhou Times New Material Technology Co. Ltd. Class A | 12,300 | 26 | ||||
| Shanghai Vital Microtech Co. Ltd. | 9,200 | 26 | ||||
| Three's Co. Media Group Co. Ltd. Class A | 4,663 | 26 | ||||
| Jiangnan Mould & Plastic Technology Co. Ltd. Class A | 13,000 | 26 | ||||
| CETC Digital Technology Co. Ltd. Class A | 6,240 | 26 | ||||
| Streamax Technology Co. Ltd. Class A | 2,200 | 26 | ||||
| China Southern Power Grid Technology Co. Ltd. Class A | 3,341 | 26 | ||||
| ZhongYeDa Electric Co. Ltd. Class A | 15,600 | 26 | ||||
| Hubei Chutian Smart Communication Co. Ltd. Class A | 44,300 | 26 | ||||
| * | Yechiu Metal Recycling China Ltd. Class A | 41,800 | 26 | |||
| Guodian Nanjing Automation Co. Ltd. Class A | 13,080 | 26 | ||||
| Mehow Innovative Ltd. Class A | 5,740 | 26 | ||||
| Northeast Securities Co. Ltd. Class A | 19,200 | 25 | ||||
| Guangdong Tapai Group Co. Ltd. Class A | 17,800 | 25 | ||||
| Anhui Jinhe Industrial Co. Ltd. Class A | 6,000 | 25 | ||||
| Huafon Microfibre Shanghai Technology Co. Ltd. Class A | 24,700 | 25 | ||||
| Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. Class A | 9,300 | 25 | ||||
| Anhui Construction Engineering Group Co. Ltd. Class A | 35,000 | 25 | ||||
| 3 | Shanghai Haohai Biological Technology Co. Ltd. Class H | 7,660 | 25 | |||
| * | Zhejiang Narada Power Source Co. Ltd. Class A | 10,900 | 25 | |||
| Wuhu Token Science Co. Ltd. Class A | 24,700 | 25 | ||||
| * | Grandjoy Holdings Group Co. Ltd. Class A | 50,100 | 25 | |||
| ORG Technology Co. Ltd. Class A | 30,000 | 25 | ||||
| Titan Wind Energy Suzhou Co. Ltd. Class A | 16,700 | 25 | ||||
| * | B-Soft Co. Ltd. Class A | 32,160 | 25 | |||
| Skyworth Digital Co. Ltd. Class A | 14,200 | 25 | ||||
| * | Bright Real Estate Group Co. Ltd. Class A | 39,200 | 25 | |||
| CCCC Design & Consulting Group Co. Ltd. Class A | 23,300 | 25 | ||||
| * | Xizang Tianlu Co. Ltd. Class A | 14,800 | 25 | |||
| * | Shenzhen Gongjin Electronics Co. Ltd. Class A | 13,900 | 25 | |||
| * | Beijing Watertek Information Technology Co. Ltd. Class A | 29,600 | 25 | |||
| * | Porton Pharma Solutions Ltd. Class A | 7,300 | 25 | |||
| Xinjiang Communications Construction Group Co. Ltd. Class A | 10,400 | 25 | ||||
| Shanghai Chinafortune Co. Ltd. Class A | 10,600 | 25 | ||||
| Chengdu Wintrue Holding Co. Ltd. Class A | 10,800 | 25 | ||||
| Moon Environment Technology Co. Ltd. Class A | 8,580 | 25 | ||||
| Eastcompeace Technology Co. Ltd. Class A | 7,200 | 25 | ||||
| * | Chengdu ALD Aviation Manufacturing Corp. Class A | 5,300 | 25 | |||
| * | Shenzhen Special Economic Zone Real Estate & Properties Group Co. Ltd. Class A | 7,300 | 25 | |||
| Shenzhen Topraysolar Co. Ltd. Class A | 24,900 | 25 | ||||
| * | Insigma Technology Co. Ltd. Class A | 15,600 | 25 | |||
| * | Mabwell Shanghai Bioscience Co. Ltd. Class A | 4,960 | 25 | |||
| * | Shenzhen Mason Technologies Co. Ltd. Class A | 11,560 | 25 | |||
| Zhongshan Public Utilities Group Co. Ltd. Class A | 13,800 | 24 | ||||
26
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| CETC Cyberspace Security Technology Co. Ltd. Class A | 8,300 | 24 | ||||
| * | Liuzhou Iron & Steel Co. Ltd. Class A | 28,700 | 24 | |||
| Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A | 5,400 | 24 | ||||
| Anhui Expressway Co. Ltd. Class A | 11,500 | 24 | ||||
| Bluestar Adisseo Co. Class A | 14,900 | 24 | ||||
| Taiji Computer Corp. Ltd. Class A | 7,400 | 24 | ||||
| * | TianShan Material Co. Ltd. Class A | 30,100 | 24 | |||
| * | Wuhan P&S Information Technology Co. Ltd. Class A | 14,600 | 24 | |||
| Shanghai Zijiang Enterprise Group Co. Ltd. Class A | 21,400 | 24 | ||||
| * | Baosheng Science & Technology Innovation Co. Ltd. Class A | 21,900 | 24 | |||
| Yantai Zhenghai Magnetic Material Co. Ltd. Class A | 8,500 | 24 | ||||
| Shanghai Foreign Service Holding Group Co. Ltd. Class A | 28,800 | 24 | ||||
| Zhejiang Qianjiang Motorcycle Co. Ltd. Class A | 10,400 | 24 | ||||
| Luoyang Xinqianglian Slewing Bearing Co. Ltd. Class A | 3,400 | 24 | ||||
| Sichuan Anning Iron & Titanium Co. Ltd. Class A | 3,900 | 24 | ||||
| Guangdong Construction Engineering Group Co. Ltd. Class A | 42,000 | 24 | ||||
| Kidswant Children Products Co. Ltd. Class A | 14,900 | 24 | ||||
| * | Chengdu Guoguang Electric Co. Ltd. Class A | 1,440 | 24 | |||
| Central China Land Media Co. Ltd. Class A | 12,000 | 24 | ||||
| XGD Inc. Class A | 6,000 | 24 | ||||
| * | ApicHope Pharmaceutical Group Co. Ltd. | 5,000 | 24 | |||
| DongFeng Automobile Co. Ltd. Class A | 23,400 | 24 | ||||
| Center International Group Co. Ltd. Class A | 10,700 | 24 | ||||
| * | Shenyang Machine Tool Co. Ltd. Class A | 20,900 | 24 | |||
| * | Suzhou Jinfu Technology Co. Ltd. Class A | 22,000 | 24 | |||
| Jiangxi Hongcheng Environment Co. Ltd. Class A | 16,500 | 24 | ||||
| Huatu Cendes Co. Ltd. Class A | 2,200 | 24 | ||||
| * | Guangzhou R&F Properties Co. Ltd. Class H | 323,600 | 23 | |||
| Fujian Star-net Communication Co. Ltd. Class A | 5,100 | 23 | ||||
| Xizang Zhufeng Resources Co. Ltd. Class A | 8,000 | 23 | ||||
| * | China Enterprise Co. Ltd. Class A | 55,401 | 23 | |||
| Wellhope Foods Co. Ltd. Class A | 21,300 | 23 | ||||
| China Meidong Auto Holdings Ltd. | 108,000 | 23 | ||||
| * | Polaris Bay Group Co. Ltd. Class A | 23,100 | 23 | |||
| Shanghai Bailian Group Co. Ltd. Class A | 18,000 | 23 | ||||
| * | Anhui Tatfook Technology Co. Ltd. Class A | 13,000 | 23 | |||
| Hangzhou Onechance Tech Corp. Class A | 3,700 | 23 | ||||
| Ningbo Xusheng Group Co. Ltd. Class A | 9,100 | 23 | ||||
| Pylon Technologies Co. Ltd. Class A | 2,415 | 23 | ||||
| * | Nations Technologies Inc. Class A | 7,100 | 23 | |||
| Jiangsu Asia-Pacific Light Alloy Technology Co. Ltd. Class A | 20,700 | 23 | ||||
| * | Shenzhen Chipscreen Biosciences Co. Ltd. Class A | 4,848 | 23 | |||
| Zhejiang Jinggong Integration Technology Co. Ltd. Class A | 7,500 | 23 | ||||
| * | C*Core Technology Co. Ltd. Class A | 3,891 | 23 | |||
| Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co. Ltd. Class A | 28,900 | 23 | ||||
| Ningbo Boway Alloy Material Co. Ltd. Class A | 7,700 | 23 | ||||
| Anhui Sierte Fertilizer Industry Ltd. Co. Class A | 19,900 | 23 | ||||
| * | Gosuncn Technology Group Co. Ltd. Class A | 24,100 | 22 | |||
| Tayho Advanced Materials Group Co. Ltd. Class A | 11,200 | 22 | ||||
| Zhejiang Communications Technology Co. Ltd. Class A | 36,960 | 22 | ||||
| Chow Tai Seng Jewellery Co. Ltd. Class A | 12,100 | 22 | ||||
| Weaver Network Technology Co. Ltd. Class A | 3,270 | 22 | ||||
| Zhejiang Jingxin Pharmaceutical Co. Ltd. Class A | 9,300 | 22 | ||||
| Norinco International Cooperation Ltd. Class A | 11,800 | 22 | ||||
| * | Kingsignal Technology Co. Ltd. Class A | 9,500 | 22 | |||
| Ningbo Yunsheng Co. Ltd. Class A | 10,100 | 22 | ||||
| Zhejiang Xinan Chemical Industrial Group Co. Ltd. Class A | 11,060 | 22 | ||||
| Mayinglong Pharmaceutical Group Co. Ltd. Class A | 5,500 | 22 | ||||
| China CAMC Engineering Co. Ltd. Class A | 17,200 | 22 | ||||
| * | Jihua Group Corp. Ltd. Class A | 46,400 | 22 | |||
| * | Shuangliang Eco-Energy Systems Co. Ltd. Class A | 15,800 | 22 | |||
| Hangzhou Dptech Technologies Co. Ltd. Class A | 7,950 | 22 | ||||
| Zhejiang Jiecang Linear Motion Technology Co. Ltd. Class A | 4,200 | 22 | ||||
| Chengdu Leejun Industrial Co. Ltd. Class A | 13,500 | 22 | ||||
| Shandong WIT Dyne Health Co. Ltd. Class A | 4,600 | 22 | ||||
| EIT Environmental Development Group Co. Ltd. Class A | 5,800 | 22 | ||||
| Tibet Rhodiola Pharmaceutical Holding Co. Class A | 3,510 | 22 | ||||
| * | Guangdong Guanghua Sci-Tech Co. Ltd. Class A | 6,500 | 22 | |||
| * | Beijing Relpow Technology Co. Ltd. Class A | 4,550 | 22 | |||
| Suzhou Nanomicro Technology Co. Ltd. Class A | 5,169 | 22 | ||||
27
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Qinchuan Machine Tool & Tool Group Share Co. Ltd. Class A | 12,200 | 22 | ||||
| Sichuan Injet Electric Co. Ltd. Class A | 2,700 | 22 | ||||
| Semitronix Corp. Class A | 1,700 | 22 | ||||
| Stanley Agricultural Group Co. Ltd. Class A | 13,300 | 22 | ||||
| Suzhou Secote Precision Electronic Co. Ltd. Class A | 2,940 | 22 | ||||
| Xiamen King Long Motor Group Co. Ltd. Class A | 8,300 | 22 | ||||
| HBIS Resources Co. Ltd. Class A | 6,200 | 22 | ||||
| Zhejiang Semir Garment Co. Ltd. Class A | 26,100 | 21 | ||||
| * | Visionox Technology Inc. Class A | 15,600 | 21 | |||
| China Meheco Group Co. Ltd. Class A | 13,800 | 21 | ||||
| Laobaixing Pharmacy Chain JSC Class A | 9,826 | 21 | ||||
| China Resources Boya Bio-pharmaceutical Group Co. Ltd. Class A | 6,500 | 21 | ||||
| Shenzhen Sunline Tech Co. Ltd. Class A | 10,300 | 21 | ||||
| Beijing Aosaikang Pharmaceutical Co. Ltd. Class A | 9,200 | 21 | ||||
| Zhejiang Medicine Co. Ltd. Class A | 9,000 | 21 | ||||
| Zhejiang Hisun Pharmaceutical Co. Ltd. Class A | 13,600 | 21 | ||||
| * | Tianjin Benefo Tejing Electric Co. Ltd. Class A | 18,800 | 21 | |||
| Triumph Science & Technology Co. Ltd. Class A | 9,500 | 21 | ||||
| Yueyang Forest & Paper Co. Ltd. Class A | 23,300 | 21 | ||||
| Milkyway Intelligent Supply Chain Service Group Co. Ltd. Class A | 2,100 | 21 | ||||
| Guangdong Goworld Co. Ltd. Class A | 8,900 | 21 | ||||
| * | INKON Life Technology Co. Ltd. Class A | 12,700 | 21 | |||
| Windey Energy Technology Group Co. Ltd. Class A | 7,150 | 21 | ||||
| * | Hainan Haide Capital Management Co. Ltd. Class A | 25,389 | 21 | |||
| * | Nuode New Materials Co. Ltd. Class A | 17,200 | 21 | |||
| Shanghai Haoyuan Chemexpress Co. Ltd. Class A | 2,025 | 21 | ||||
| Focus Technology Co. Ltd. Class A | 3,200 | 21 | ||||
| Eyebright Medical Technology Beijing Co. Ltd. Class A | 2,287 | 21 | ||||
| * | Sanwei Holding Group Co. Ltd. Class A | 12,900 | 21 | |||
| Shenzhen Hopewind Electric Co. Ltd. Class A | 4,800 | 21 | ||||
| Suzhou Oriental Semiconductor Co. Ltd. Class A | 1,463 | 21 | ||||
| OPT Machine Vision Tech Co. Ltd. Class A | 1,238 | 21 | ||||
| Shanghai Chlor-Alkali Chemical Co. Ltd. Class A | 8,900 | 21 | ||||
| Asian Star Anchor Chain Co. Ltd. Jiangsu Class A | 10,500 | 21 | ||||
| * | MCC Meili Cloud Computing Industry Investment Co. Ltd. Class A | 9,700 | 21 | |||
| Zhejiang Jolly Pharmaceutical Co. Ltd. Class A | 8,700 | 21 | ||||
| Explosive Co. Ltd. Class A | 9,900 | 21 | ||||
| Henan Lingrui Pharmaceutical Co. Class A | 6,800 | 21 | ||||
| Guomai Technologies Inc. Class A | 11,900 | 20 | ||||
| * | China Reform Health Management & Services Group Co. Ltd. Class A | 15,300 | 20 | |||
| Tangshan Sanyou Chemical Industries Co. Ltd. Class A | 15,700 | 20 | ||||
| Shandong Hi-Speed Road & Bridge Group Co. Ltd. Class A | 21,400 | 20 | ||||
| * | Zhuhai Zhumian Group Co. Ltd. | 19,500 | 20 | |||
| Guangdong Ellington Electronics Technology Co. Ltd. Class A | 10,300 | 20 | ||||
| Amoy Diagnostics Co. Ltd. Class A | 6,420 | 20 | ||||
| Shanghai Yaoji Technology Co. Ltd. Class A | 5,600 | 20 | ||||
| Shenzhen Leaguer Co. Ltd. Class A | 12,000 | 20 | ||||
| Shanghai Fullhan Microelectronics Co. Ltd. Class A | 2,900 | 20 | ||||
| Zhejiang Weixing Industrial Development Co. Ltd. Class A | 13,300 | 20 | ||||
| Kunshan Dongwei Technology Co. Ltd. Class A | 3,116 | 20 | ||||
| BMC Medical Co. Ltd. Class A | 1,680 | 20 | ||||
| Hangzhou Weiguang Electronic Co. Ltd. Class A | 3,800 | 20 | ||||
| CIMC Vehicles Group Co. Ltd. Class A | 13,600 | 20 | ||||
| Xinjiang Xuefeng Sci-Tech Group Co. Ltd. Class A | 15,100 | 20 | ||||
| Jinhong Gas Co. Ltd. Class A | 5,923 | 20 | ||||
| Solareast Holdings Co. Ltd. Class A | 14,200 | 20 | ||||
| FESCO Group Co. Ltd. Class A | 7,800 | 20 | ||||
| * | Sinodata Co. Ltd. Class A | 4,800 | 20 | |||
| Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class B | 27,000 | 19 | ||||
| Beijing Strong Biotechnologies Inc. Class A | 9,900 | 19 | ||||
| JSTI Group Class A | 18,000 | 19 | ||||
| Chongqing Three Gorges Water Conservancy & Electric Power Co. Ltd. Class A | 19,300 | 19 | ||||
| * | Zhuhai Aerospace Microchips Science & Technology Co. Ltd. Class A | 6,500 | 19 | |||
| * | China Union Holdings Ltd. Class A | 24,600 | 19 | |||
| Xiamen Kingdomway Group Co. Class A | 6,600 | 19 | ||||
| China Bester Group Telecom Co. Ltd. Class A | 4,800 | 19 | ||||
| Shanghai Runda Medical Technology Co. Ltd. Class A | 8,200 | 19 | ||||
| 263 Network Communications Co. Ltd. Class A | 17,400 | 19 | ||||
| * | Beijing eGOVA Co. Ltd. Class A | 8,880 | 19 | |||
| New Guomai Digital Culture Co. Ltd. Class A | 9,100 | 19 | ||||
28
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | COFCO Biotechnology Co. Ltd. Class A | 19,000 | 19 | |||
| * | Toyou Feiji Electronics Co. Ltd. Class A | 6,700 | 19 | |||
| Fujian Boss Software Development Co. Ltd. Class A | 10,300 | 19 | ||||
| * | Guizhou Zhenhua E-chem Inc. Class A | 8,631 | 19 | |||
| * | Shenzhen Minglida Precision Technology Co. Ltd. Class A | 5,600 | 19 | |||
| Hualan Biological Vaccine Inc. Class A | 6,300 | 19 | ||||
| Jiangsu Rainbow Heavy Industries Co. Ltd. Class A | 16,500 | 19 | ||||
| Jiangsu Ruitai New Energy Materials Co. Ltd. Class A | 6,000 | 19 | ||||
| Motic Xiamen Electric Group Co. Ltd. Class A | 7,800 | 19 | ||||
| Wuhan East Lake High Technology Group Co. Ltd. Class A | 12,900 | 19 | ||||
| Shenzhen Urban Transport Planning Center Co. Ltd. Class A | 5,000 | 19 | ||||
| Shenzhen Das Intellitech Co. Ltd. Class A | 42,600 | 18 | ||||
| Shanghai Ganglian E-Commerce Holdings Co. Ltd. Class A | 4,200 | 18 | ||||
| * | Beijing Haixin Energy Technology Co. Ltd. Class A | 25,400 | 18 | |||
| * | Beijing UniStrong Science & Technology Co. Ltd. Class A | 11,000 | 18 | |||
| Topsec Technologies Group Inc. Class A | 13,800 | 18 | ||||
| Bank of Zhengzhou Co. Ltd. Class A | 63,900 | 18 | ||||
| Aisino Corp. Class A | 12,400 | 18 | ||||
| * | Sun Create Electronics Co. Ltd. Class A | 4,600 | 18 | |||
| Shenzhen Desay Battery Technology Co. Class A | 4,680 | 18 | ||||
| Shanghai Environment Group Co. Ltd. Class A | 14,400 | 18 | ||||
| * | Changzhou Tronly New Electronic Materials Co. Ltd. Class A | 7,800 | 18 | |||
| CSG Holding Co. Ltd. Class A | 24,600 | 18 | ||||
| YanTai Shuangta Food Co. Ltd. Class A | 24,500 | 18 | ||||
| Wuhan Fingu Electronic Technology Co. Ltd. Class A | 9,500 | 18 | ||||
| Sanquan Food Co. Ltd. Class A | 9,630 | 18 | ||||
| Guangzhou Zhiguang Electric Co. Ltd. Class A | 7,900 | 18 | ||||
| China Publishing & Media Co. Ltd. Class A | 16,700 | 18 | ||||
| Suzhou New District Hi-Tech Industrial Co. Ltd. Class A | 17,700 | 18 | ||||
| Dongfeng Electronic Technology Co. Ltd. Class A | 10,500 | 18 | ||||
| Keshun Waterproof Technologies Co. Ltd. Class A | 16,460 | 18 | ||||
| Longhua Technology Group Luoyang Co. Ltd. Class A | 10,000 | 18 | ||||
| Chengdu Kanghua Biological Products Co. Ltd. Class A | 1,750 | 18 | ||||
| * | Shanghai Medicilon Inc. Class A | 1,783 | 18 | |||
| * | Shenzhen Dynanonic Co. Ltd. Class A | 2,880 | 18 | |||
| CNSIG Inner Mongolia Chemical Industry Co. Ltd. Class A | 12,870 | 18 | ||||
| Beyondsoft Corp. Class A | 8,800 | 18 | ||||
| PNC Process Systems Co. Ltd. Class A | 4,320 | 18 | ||||
| Zhejiang Tiantie Science & Technology Co. Ltd. Class A | 18,300 | 18 | ||||
| Sino Biological Inc. Class A | 1,700 | 18 | ||||
| * | Shenzhen Clou Electronics Co. Ltd. Class A | 12,800 | 18 | |||
| Guangdong Hongtu Technology Holdings Co. Ltd. Class A | 10,000 | 18 | ||||
| * | New Journey Health Technology Group Co. Ltd. Class A | 48,400 | 18 | |||
| Nanjing Vazyme Biotech Co. Ltd. Class A | 5,937 | 18 | ||||
| * | Beijing Join-Cheer Software Co. Ltd. Class A | 13,400 | 18 | |||
| Micro-Tech Nanjing Co. Ltd. Class A | 1,459 | 18 | ||||
| * | GuangYuYuan Chinese Herbal Medicine Co. Ltd. Class A | 6,800 | 18 | |||
| * | Shanghai Yizhong Pharmaceutical Co. Ltd. Class A | 2,516 | 18 | |||
| Guizhou Guihang Automotive Components Co. Ltd. Class A | 7,700 | 18 | ||||
| Hangzhou EZVIZ Network Co. Ltd. Class A | 4,265 | 18 | ||||
| Suofeiya Home Collection Co. Ltd. Class A | 8,600 | 17 | ||||
| * | Dongjiang Environmental Co. Ltd. Class A | 23,400 | 17 | |||
| * | Lingyuan Iron & Steel Co. Ltd. Class A | 48,300 | 17 | |||
| Xinyu Iron & Steel Co. Ltd. Class A | 27,300 | 17 | ||||
| Telling Telecommunication Holding Co. Ltd. Class A | 10,900 | 17 | ||||
| Lier Chemical Co. Ltd. Class A | 6,800 | 17 | ||||
| Sonoscape Medical Corp. Class A | 4,400 | 17 | ||||
| Shanghai Kaibao Pharmaceutical Co. Ltd. Class A | 17,400 | 17 | ||||
| Sichuan Jiuyuan Yinhai Software Co. Ltd. Class A | 5,800 | 17 | ||||
| Changjiang & Jinggong Steel Building Group Co. Ltd. Class A | 26,000 | 17 | ||||
| Wuxi Boton Technology Co. Ltd. Class A | 4,900 | 17 | ||||
| Jiangsu Guomao Reducer Co. Ltd. Class A | 6,700 | 17 | ||||
| * | Shanghai Anlogic Infotech Co. Ltd. Class A | 3,535 | 17 | |||
| Southern Publishing & Media Co. Ltd. Class A | 7,800 | 17 | ||||
| Kuangda Technology Group Co. Ltd. Class A | 16,800 | 17 | ||||
| * | Hiconics Eco-energy Technology Co. Ltd. Class A | 15,200 | 17 | |||
| Arctech Solar Holding Co. Ltd. Class A | 2,565 | 17 | ||||
| Tianneng Battery Group Co. Ltd. Class A | 3,458 | 17 | ||||
| * | ABA Chemicals Corp. Class A | 15,400 | 17 | |||
| Mesnac Co. Ltd. Class A | 14,000 | 17 | ||||
29
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Shaanxi Fenghuo Electronics Co. Ltd. Class A | 10,000 | 17 | |||
| Shenzhen Textile Holdings Co. Ltd. Class A | 9,000 | 17 | ||||
| * | Bio-Thera Solutions Ltd. Class A | 4,984 | 17 | |||
| Duolun Technology Corp. Ltd. Class A | 12,100 | 17 | ||||
| * | Chongqing Genrix Biopharmaceutical Co. Ltd. Class A | 4,185 | 17 | |||
| Hangxiao Steel Structure Co. Ltd. Class A | 28,100 | 16 | ||||
| Changzhou Qianhong Biopharma Co. Ltd. Class A | 14,200 | 16 | ||||
| * | Beijing Baination Pictures Co. Ltd. Class A | 13,300 | 16 | |||
| * | Wutong Holding Group Co. Ltd. Class A | 21,600 | 16 | |||
| Edifier Technology Co. Ltd. Class A | 8,600 | 16 | ||||
| * | Client Service International Inc. Class A | 6,250 | 16 | |||
| CITIC Press Corp. Class A | 2,400 | 16 | ||||
| * | Jiangsu Lopal Tech Group Co. Ltd. Class A | 6,000 | 16 | |||
| Qingdao Gaoce Technology Co. Ltd. Class A | 6,407 | 16 | ||||
| Tangshan Sunfar Silicon Industry Co. Ltd. Class A | 3,900 | 16 | ||||
| Shaanxi Beiyuan Chemical Industry Group Co. Ltd. Class A | 24,100 | 16 | ||||
| Guobang Pharma Ltd. Class A | 3,800 | 16 | ||||
| Huaxia Eye Hospital Group Co. Ltd. Class A | 5,800 | 16 | ||||
| Leshan Giantstar Farming & Husbandry Corp. Ltd. Class A | 6,000 | 16 | ||||
| Xiangyu Medical Co. Ltd. Class A | 1,656 | 16 | ||||
| Sinomach Automobile Co. Ltd. Class A | 16,900 | 16 | ||||
| Chongqing Port Co. Ltd. Class A | 20,200 | 16 | ||||
| * | Anyang Iron & Steel Inc. Class A | 40,900 | 16 | |||
| Qingdao Baheal Pharmaceutical Co. Ltd. Class A | 4,500 | 16 | ||||
| Shenzhen Tagen Group Co. Ltd. Class A | 25,900 | 15 | ||||
| * | RiseSun Real Estate Development Co. Ltd. Class A | 61,300 | 15 | |||
| Wushang Group Co. Ltd. Class A | 10,850 | 15 | ||||
| * | PCI Technology Group Co. Ltd. Class A | 14,900 | 15 | |||
| Hongli Zhihui Group Co. Ltd. Class A | 12,800 | 15 | ||||
| Changjiang Publishing & Media Co. Ltd. Class A | 10,900 | 15 | ||||
| Hangzhou Jiebai Group Co. Ltd. Class A | 11,900 | 15 | ||||
| Suning Universal Co. Ltd. Class A | 43,100 | 15 | ||||
| * | Financial Street Holdings Co. Ltd. Class A | 37,300 | 15 | |||
| Sinocare Inc. Class A | 5,700 | 15 | ||||
| * | Shunfa Hengneng Corp. Class A | 26,200 | 15 | |||
| Jiangsu Shuangxing Color Plastic New Materials Co. Ltd. Class A | 12,600 | 15 | ||||
| * | Guangxi Wuzhou Zhongheng Group Co. Ltd. Class A | 39,300 | 15 | |||
| Guangdong Marubi Biotechnology Co. Ltd. Class A | 3,300 | 15 | ||||
| Orient International Enterprise Ltd. Class A | 12,000 | 15 | ||||
| Lushang Freda Pharmaceutical Co. Ltd. Class A | 13,600 | 15 | ||||
| * | China Express Airlines Co. Ltd. Class A | 9,600 | 15 | |||
| Anhui Huilong Agricultural Means of Production Co. Ltd. Class A | 15,300 | 15 | ||||
| * | Xian International Medical Investment Co. Ltd. Class A | 21,700 | 15 | |||
| Shanghai MicroPort Endovascular MedTech Group Co. Ltd. Class A | 999 | 15 | ||||
| Levima Advanced Materials Corp. Class A | 4,700 | 15 | ||||
| * | Shenzhen Fine Made Electronics Group Co. Ltd. Class A | 2,200 | 15 | |||
| * | KBC Corp. Ltd. Class A | 3,722 | 15 | |||
| Anhui Huaheng Biotechnology Co. Ltd. Class A | 2,915 | 15 | ||||
| China Science Publishing & Media Ltd. Class A | 4,700 | 15 | ||||
| Shenma Industry Co. Ltd. Class A | 11,950 | 15 | ||||
| Wuxi Rural Commercial Bank Co. Ltd. Class A | 17,100 | 15 | ||||
| Jiang Su Suyan Jingshen Co. Ltd. Class A | 8,700 | 15 | ||||
| * | Henan Ancai Hi-Tech Co. Ltd. Class A | 18,600 | 15 | |||
| * | China Agriculture Development Seed Group Co. Ltd. Class A | 12,600 | 15 | |||
| Beijing Sanyuan Foods Co. Ltd. Class A | 19,700 | 15 | ||||
| Hangzhou Sunrise Technology Co. Ltd. Class A | 5,700 | 15 | ||||
| * | Hainan Expressway Co. Ltd. Class A | 15,900 | 15 | |||
| Shanghai Baosteel Packaging Co. Ltd. Class A | 17,300 | 15 | ||||
| Ningbo Cixing Co. Ltd. Class A | 13,600 | 15 | ||||
| Shenzhen YHLO Biotech Co. Ltd. Class A | 7,687 | 15 | ||||
| Hunan Jiudian Pharmaceutical Co. Ltd. Class A | 6,500 | 15 | ||||
| Yixintang Pharmaceutical Group Co. Ltd. Class A | 7,300 | 14 | ||||
| Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class A | 9,300 | 14 | ||||
| * | Shanying International Holding Co. Ltd. Class A | 55,000 | 14 | |||
| * | Sichuan Haite High-tech Co. Ltd. Class A | 7,900 | 14 | |||
| Shenzhen Hepalink Pharmaceutical Group Co. Ltd. Class A | 8,200 | 14 | ||||
| Zhejiang Xianju Pharmaceutical Co. Ltd. Class A | 9,900 | 14 | ||||
| * | JC Finance & Tax Interconnect Holdings Ltd. Class A | 9,000 | 14 | |||
| Zhejiang Garden Biopharmaceutical Co. Ltd. Class A | 5,500 | 14 | ||||
| Henan Zhongyuan Expressway Co. Ltd. Class A | 22,700 | 14 | ||||
30
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| CTS International Logistics Corp. Ltd. Class A | 16,205 | 14 | ||||
| Guiyang Longmaster Information & Technology Co. Ltd. Class A | 6,500 | 14 | ||||
| China Merchants Property Operation & Service Co. Ltd. Class A | 8,000 | 14 | ||||
| * | Hubei Broadcasting & Television Information Network Co. Ltd. Class A | 17,000 | 14 | |||
| Shandong Jinjing Science & Technology Co. Ltd. Class A | 14,500 | 14 | ||||
| Ningxia Building Materials Group Co. Ltd. Class A | 6,900 | 14 | ||||
| Aotecar New Energy Technology Group Co. Ltd. Class A | 30,000 | 14 | ||||
| Shanghai Shibei Hi-Tech Co. Ltd. Class A | 17,400 | 14 | ||||
| Shenzhen Microgate Technology Co. Ltd. Class A | 7,000 | 14 | ||||
| Shenzhen Changhong Technology Co. Ltd. Class A | 5,000 | 14 | ||||
| * | Beijing Bohui Innovation Biotechnology Group Co. Ltd. Class A | 14,500 | 14 | |||
| Hangzhou Haoyue Personal Care Co. Ltd. Class A | 3,080 | 14 | ||||
| ZWSOFT Co. Ltd. Guangzhou Class A | 1,463 | 14 | ||||
| Zhejiang Jiahua Energy Chemical Industry Co. Ltd. Class A | 8,300 | 14 | ||||
| * | Jiangsu Transimage Technology Co. Ltd. Class A | 4,700 | 14 | |||
| Guotai Epoint Software Co. Ltd. Class A | 3,530 | 14 | ||||
| Zhejiang Yonggui Electric Equipment Co. Ltd. Class A | 4,800 | 14 | ||||
| Appotronics Corp. Ltd. Class A | 5,638 | 14 | ||||
| Bank of Lanzhou Co. Ltd. Class A | 41,400 | 14 | ||||
| Shandong Lukang Pharma Class A | 10,300 | 14 | ||||
| * | Hainan Haiqi Transportation Group Co. Ltd. Class A | 4,500 | 14 | |||
| Beijing CTJ Information Technology Co. Ltd. Class A | 3,960 | 14 | ||||
| Qiming Information Technology Co. Ltd. Class A | 5,100 | 14 | ||||
| Zhejiang Vie Science & Technology Co. Ltd. Class A | 6,500 | 14 | ||||
| Shanghai Baolong Automotive Corp. Class A | 2,600 | 14 | ||||
| * | Beijing Thunisoft Corp. Ltd. Class A | 11,500 | 13 | |||
| * | Daan Gene Co. Ltd. Class A | 14,600 | 13 | |||
| Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. Class A | 8,700 | 13 | ||||
| M-Grass Ecology & Environment Group Co. Ltd. Class A | 19,800 | 13 | ||||
| * | Konka Group Co. Ltd. Class A | 23,700 | 13 | |||
| * | China Zhonghua Geotechnical Engineering Group Co. Ltd. Class A | 26,100 | 13 | |||
| Jiangling Motors Corp. Ltd. Class A | 4,800 | 13 | ||||
| Dashang Co. Ltd. Class A | 4,961 | 13 | ||||
| * | ADAMA Ltd. Class A | 14,800 | 13 | |||
| Foshan Electrical & Lighting Co. Ltd. Class A | 14,400 | 13 | ||||
| * | China Wuyi Co. Ltd. Class A | 28,200 | 13 | |||
| * | Guangdong Shenglu Telecommunication Tech Co. Ltd. Class A | 7,700 | 13 | |||
| Shandong Xinhua Pharmaceutical Co. Ltd. Class A | 5,700 | 13 | ||||
| Northeast Pharmaceutical Group Co. Ltd. Class A | 17,200 | 13 | ||||
| * | Jiangsu Kanion Pharmaceutical Co. Ltd. Class A | 6,000 | 13 | |||
| Shenzhen Heungkong Holding Co. Ltd. Class A | 47,600 | 13 | ||||
| Shenzhen Jieshun Science & Technology Industry Co. Ltd. Class A | 9,300 | 13 | ||||
| Zhongyuan Environment-Protection Co. Ltd. Class A | 10,300 | 13 | ||||
| Shenzhen Center Power Tech Co. Ltd. Class A | 3,900 | 13 | ||||
| Neusoft Corp. Class A | 8,600 | 13 | ||||
| China Animal Husbandry Industry Co. Ltd. Class A | 11,100 | 13 | ||||
| Zhejiang China Light & Textile Industrial City Group Co. Ltd. Class A | 21,400 | 13 | ||||
| China Television Media Ltd. Class A | 5,400 | 13 | ||||
| Sunyard Technology Co. Ltd. Class A | 5,700 | 13 | ||||
| Bros Eastern Co. Ltd. Class A | 12,800 | 13 | ||||
| Shanghai Haohai Biological Technology Co. Ltd. Class A | 1,981 | 13 | ||||
| Weihai Guangtai Airport Equipment Co. Ltd. Class A | 7,800 | 13 | ||||
| * | Archermind Technology Co. Ltd. Class A | 2,080 | 13 | |||
| Zhejiang Hailide New Material Co. Ltd. Class A | 12,000 | 13 | ||||
| Anhui Guangxin Agrochemical Co. Ltd. Class A | 5,740 | 13 | ||||
| Zhongtong Bus Holding Co. Ltd. Class A | 7,200 | 13 | ||||
| Zhejiang Construction Investment Group Co. Ltd. Class A | 10,300 | 13 | ||||
| Huangshan Novel Co. Ltd. Class A | 7,200 | 13 | ||||
| Fujian Apex Software Co. Ltd. Class A | 2,400 | 13 | ||||
| * | Beijing Electronic Zone High-tech Group Co. Ltd. Class A | 17,300 | 13 | |||
| * | Hainan Haiyao Co. Ltd. Class A | 14,300 | 13 | |||
| Shenzhen Invt Electric Co. Ltd. Class A | 9,100 | 13 | ||||
| Guangzhou Guangri Stock Co. Ltd. Class A | 9,200 | 13 | ||||
| Shenzhen Airport Co. Ltd. Class A | 11,600 | 12 | ||||
| * | Beijing Global Safety Technology Co. Ltd. Class A | 3,500 | 12 | |||
| * | China Fortune Land Development Co. Ltd. Class A | 48,900 | 12 | |||
| Tianjin Port Co. Ltd. Class A | 17,000 | 12 | ||||
| China Railway Tielong Container Logistics Co. Ltd. Class A | 12,700 | 12 | ||||
| * | Long Yuan Construction Group Co. Ltd. Class A | 25,300 | 12 | |||
| Ningbo Peacebird Fashion Co. Ltd. Class A | 5,400 | 12 | ||||
31
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Jiangsu Huaxicun Co. Ltd. Class A | 9,500 | 12 | ||||
| * | Tangrenshen Group Co. Ltd. Class A | 18,660 | 12 | |||
| Shanghai Bright Meat Group Co. Ltd. Class A | 12,000 | 12 | ||||
| * | Cinda Real Estate Co. Ltd. Class A | 23,500 | 12 | |||
| Fujian Expressway Development Co. Ltd. Class A | 22,000 | 12 | ||||
| Era Co. Ltd. Class A | 18,600 | 12 | ||||
| Qingdao Haier Biomedical Co. Ltd. Class A | 2,543 | 12 | ||||
| Xiamen Jihong Technology Co. Ltd. Class A | 4,500 | 12 | ||||
| Bestore Co. Ltd. Class A | 7,300 | 12 | ||||
| Shanghai Kelai Mechatronics Engineering Co. Ltd. Class A | 3,200 | 12 | ||||
| Winall Hi-Tech Seed Co. Ltd. Class A | 8,960 | 12 | ||||
| Jingjin Equipment Inc. Class A | 3,760 | 12 | ||||
| Shanghai Bright Power Semiconductor Co. Ltd. Class A | 593 | 12 | ||||
| Beijing Sanlian Hope Shin-Gosen Technical Service Co. Ltd. Class A | 4,400 | 12 | ||||
| Sansure Biotech Inc. Class A | 4,179 | 12 | ||||
| Beijing Dahao Technology Corp. Ltd. Class A | 4,920 | 12 | ||||
| Yunnan Energy Investment Co. Ltd. Class A | 7,100 | 12 | ||||
| Shenzhen Topway Video Communication Co. Ltd. Class A | 9,500 | 12 | ||||
| Beijing Wandong Medical Technology Co. Ltd. Class A | 5,400 | 12 | ||||
| Nanjing Cosmos Chemical Co. Ltd. Class A | 5,880 | 12 | ||||
| Ningxia Western Venture Industrial Co. Ltd. Class A | 16,100 | 12 | ||||
| * | Guangdong Yowant Technology Group Co. Ltd. Class A | 11,000 | 12 | |||
| Yuneng Technology Co. Ltd. Class A | 1,493 | 12 | ||||
| Tianjin Tianyao Pharmaceutical Co. Ltd. Class A | 18,900 | 12 | ||||
| * | Guoguang Electric Co. Ltd. Class A | 5,900 | 12 | |||
| * | Beijing SuperMap Software Co. Ltd. Class A | 4,000 | 11 | |||
| NanJi E-Commerce Co. Ltd. Class A | 23,700 | 11 | ||||
| Luolai Lifestyle Technology Co. Ltd. Class A | 7,200 | 11 | ||||
| Vatti Corp. Ltd. Class A | 11,700 | 11 | ||||
| Guangshen Railway Co. Ltd. Class A | 24,400 | 11 | ||||
| Hunan Aihua Group Co. Ltd. Class A | 3,800 | 11 | ||||
| * | Beijing VRV Software Corp. Ltd. Class A | 10,400 | 11 | |||
| Sinosteel Engineering & Technology Co. Ltd. Class A | 10,200 | 11 | ||||
| * | Shenzhen New Nanshan Holding Group Co. Ltd. Class A | 28,400 | 11 | |||
| Chongqing Pharscin Pharmaceutical Co. Ltd. Class A | 4,900 | 11 | ||||
| PharmaBlock Sciences Nanjing Inc. Class A | 1,800 | 11 | ||||
| Unilumin Group Co. Ltd. Class A | 9,400 | 11 | ||||
| Jiangsu Zijin Rural Commercial Bank Co. Ltd. Class A | 27,600 | 11 | ||||
| KPC Pharmaceuticals Inc. Class A | 6,400 | 11 | ||||
| Canny Elevator Co. Ltd. Class A | 9,500 | 11 | ||||
| Time Publishing & Media Co. Ltd. Class A | 9,100 | 11 | ||||
| * | Luoxin Pharmaceuticals Group Stock Co. Ltd. Class A | 15,800 | 11 | |||
| Nanjing Xinjiekou Department Store Co. Ltd. Class A | 10,700 | 11 | ||||
| Tianjin TEDA Resources Recycling Group Co. Ltd. Class A | 17,600 | 11 | ||||
| * | Shenzhen Properties & Resources Development Group Ltd. Class A | 8,800 | 11 | |||
| Jinlei Technology Co. Ltd. Class A | 2,700 | 11 | ||||
| Sleemon Healthy Sleep Technology Co. Ltd. Class A | 3,600 | 11 | ||||
| Zhejiang Ausun Pharmaceutical Co. Ltd. Class A | 8,117 | 11 | ||||
| * | Cybrid Technologies Inc. Class A | 5,100 | 11 | |||
| Guizhou Tyre Co. Ltd. Class A | 14,300 | 11 | ||||
| * | Jolywood Suzhou Sunwatt Co. Ltd. Class A | 7,800 | 11 | |||
| Chongqing Road & Bridge Co. Ltd. Class A | 11,900 | 11 | ||||
| * | Hanwang Technology Co. Ltd. Class A | 3,500 | 11 | |||
| Qingdao Eastsoft Communication Technology Co. Ltd. Class A | 4,000 | 10 | ||||
| Sunflower Pharmaceutical Group Co. Ltd. Class A | 4,700 | 10 | ||||
| * | Guangdong Zhongnan Iron & Steel Co. Ltd. Class A | 25,700 | 10 | |||
| 5I5J Holding Group Co. Ltd. Class A | 20,800 | 10 | ||||
| Guangdong Vanward New Electric Co. Ltd. Class A | 7,500 | 10 | ||||
| Sumavision Technologies Co. Ltd. Class A | 11,000 | 10 | ||||
| Focused Photonics Hangzhou Inc. Class A | 4,200 | 10 | ||||
| * | Rongan Property Co. Ltd. Class A | 33,000 | 10 | |||
| Zhejiang Tianyu Pharmaceutical Co. Ltd. Class A | 2,660 | 10 | ||||
| * | Jiangsu Hongdou Industrial Co. Ltd. Class A | 29,400 | 10 | |||
| Jiangsu Gian Technology Co. Ltd. Class A | 1,565 | 10 | ||||
| * | Hubei Century Network Technology Co. Ltd. Class A | 5,200 | 10 | |||
| Jiangsu Lianyungang Port Co. Ltd. Class A | 13,200 | 10 | ||||
| HeiLongJiang ZBD Pharmaceutical Co. Ltd. Class A | 8,300 | 10 | ||||
| * | Shenzhen Silver Basis Technology Co. Ltd. Class A | 8,100 | 10 | |||
| Joyoung Co. Ltd. Class A | 5,800 | 9 | ||||
| * | Beijing North Star Co. Ltd. Class A | 31,900 | 9 | |||
32
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Luoniushan Co. Ltd. Class A | 7,800 | 9 | ||||
| Guangdong Shirongzhaoye Co. Ltd. Class A | 9,600 | 9 | ||||
| China West Construction Group Co. Ltd. Class A | 10,000 | 9 | ||||
| Jinneng Science & Technology Co. Ltd. Class A | 8,500 | 9 | ||||
| Biem.L.Fdlkk Garment Co. Ltd. Class A | 4,100 | 9 | ||||
| Shinva Medical Instrument Co. Ltd. Class A | 3,900 | 9 | ||||
| Guangxi LiuYao Group Co. Ltd. Class A | 3,500 | 9 | ||||
| * | Shandong Longda Meishi Co. Ltd. Class A | 14,700 | 9 | |||
| * | Hangzhou Electronic Soul Network Technology Co. Ltd. Class A | 3,100 | 9 | |||
| Jinghua Pharmaceutical Group Co. Ltd. Class A | 7,900 | 9 | ||||
| Wuhan Keqian Biology Co. Ltd. Class A | 3,714 | 9 | ||||
| * | Beijing Sinohytec Co. Ltd. Class A | 1,911 | 9 | |||
| Zhejiang Gongdong Medical Technology Co. Ltd. Class A | 3,136 | 9 | ||||
| * | Zhejiang Huatong Meat Products Co. Ltd. Class A | 5,900 | 9 | |||
| * | Jiangsu General Science Technology Co. Ltd. Class A | 13,800 | 9 | |||
| Shenzhen Xinyichang Technology Co. Ltd. Class A | 798 | 9 | ||||
| Qingdao Citymedia Co. Ltd. Class A | 9,900 | 9 | ||||
| Luyang Energy-Saving Materials Co. Ltd. | 4,400 | 8 | ||||
| * | Triumph New Energy Co. Ltd. Class A | 5,200 | 8 | |||
| * | Truking Technology Ltd. Class A | 4,900 | 8 | |||
| * | Marssenger Kitchenware Co. Ltd. Class A | 4,800 | 8 | |||
| Wencan Group Co. Ltd. Class A | 2,800 | 8 | ||||
| Shanghai Hile Bio-Technology Co. Ltd. Class A | 11,300 | 8 | ||||
| * | Bright Eye Hospital Group Co. Ltd. Class A | 1,600 | 8 | |||
| Shenzhen Fuanna Bedding & Furnishing Co. Ltd. Class A | 6,700 | 7 | ||||
| Renhe Pharmacy Co. Ltd. Class A | 8,300 | 7 | ||||
| Shandong Xiantan Group Co. Ltd. | 7,300 | 7 | ||||
| Bear Electric Appliance Co. Ltd. Class A | 1,100 | 7 | ||||
| Ligao Foods Co. Ltd. Class A | 1,200 | 7 | ||||
| * | Piesat Information Technology Co. Ltd. Class A | 1,895 | 7 | |||
| Shenzhen Hello Tech Energy Co. Ltd. Class A | 861 | 7 | ||||
| * | Inner Mongolia OJing Science & Technology Co. Ltd. Class A | 1,900 | 7 | |||
| Changchun BCHT Biotechnology Co. Ltd. Class A | 2,431 | 7 | ||||
| Chengzhi Co. Ltd. Class A | 4,900 | 6 | ||||
| Shandong Jincheng Pharmaceutical Group Co. Ltd. Class A | 2,800 | 6 | ||||
| Lancy Co. Ltd. Class A | 2,300 | 6 | ||||
| Shandong Head Group Co. Ltd. Class A | 2,000 | 6 | ||||
| * | Zhejiang Orient Gene Biotech Co. Ltd. Class A | 1,543 | 6 | |||
| Baoxiniao Holding Co. Ltd. Class A | 10,800 | 6 | ||||
| * | Beijing North Star Co. Ltd. Class H | 44,000 | 5 | |||
| *,2 | Orient Group Inc. | 32,200 | 2 | |||
| *,2 | Yango Group Co. Ltd. Class A | 15,800 | — | |||
| *,2 | Jiangsu Zhongnan Construction Group Co. Ltd. | 41,700 | — | |||
| *,2 | Blivex Energy Technology Co. Ltd. | 49,300 | — | |||
| *,2 | Zhejiang Akcome New Energy Technology Co. Ltd. | 67,800 | — | |||
| *,2 | Ningxia Zhongyin Cashmere Co. Ltd. | 10,700 | — | |||
| *,2 | China Dili Group | 378,000 | — | |||
| *,2 | China Grand Automotive Services Group Co. Ltd. | 47,600 | — | |||
| *,2 | Pengdu Agriculture & Animal Husbandry Co. Ltd. | 95,300 | — | |||
| 486,247 | ||||||
| Colombia (0.0%) | ||||||
| Grupo Cibest SA ADR | 7,617 | 517 | ||||
| Cementos Argos SA | 111,378 | 353 | ||||
| 870 | ||||||
| Czech Republic (0.0%) | ||||||
| Komercni Banka A/S | 15,622 | 895 | ||||
| 3 | Moneta Money Bank A/S | 57,373 | 552 | |||
| 1,447 | ||||||
| Denmark (1.2%) | ||||||
| Novo Nordisk A/S Class B | 636,325 | 24,068 | ||||
| DSV A/S | 38,098 | 9,834 | ||||
| Danske Bank A/S | 125,021 | 6,523 | ||||
| Vestas Wind Systems A/S | 200,851 | 5,135 | ||||
| Novonesis Novozymes B | 69,701 | 4,145 | ||||
| * | Genmab A/S | 12,360 | 3,639 | |||
| AP Moller - Maersk A/S Class B | 880 | 2,185 | ||||
| Coloplast A/S Class B | 26,441 | 2,049 | ||||
| Tryg A/S | 59,503 | 1,473 | ||||
33
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | NKT A/S | 10,838 | 1,401 | |||
| Jyske Bank A/S (Registered) | 8,601 | 1,289 | ||||
| Ringkjoebing Landbobank A/S | 4,850 | 1,265 | ||||
| Pandora A/S | 14,962 | 1,183 | ||||
| AP Moller - Maersk A/S Class A | 429 | 1,051 | ||||
| * | ALK-Abello A/S Class B | 27,255 | 949 | |||
| AL Sydbank | 10,498 | 941 | ||||
| FLSmidth & Co. A/S | 9,781 | 866 | ||||
| * | Zealand Pharma A/S | 14,283 | 827 | |||
| ROCKWOOL A/S Class B | 15,788 | 523 | ||||
| * | Demant A/S | 16,202 | 505 | |||
| * | Bavarian Nordic A/S | 16,038 | 500 | |||
| Per Aarsleff Holding A/S | 3,386 | 429 | ||||
| *,3 | Netcompany Group A/S | 8,326 | 426 | |||
| *,1 | GN Store Nord A/S | 24,931 | 367 | |||
| Alm Brand A/S | 135,109 | 351 | ||||
| Ambu A/S Class B | 24,837 | 315 | ||||
| H Lundbeck A/S | 50,294 | 309 | ||||
| Schouw & Co. A/S | 2,154 | 230 | ||||
| Chemometec A/S | 2,971 | 197 | ||||
| UIE plc | 2,116 | 120 | ||||
| * | Dfds A/S | 6,258 | 102 | |||
| H Lundbeck A/S Class A | 15,796 | 87 | ||||
| * | NTG Nordic Transport Group A/S | 3,046 | 82 | |||
| Gubra A/S | 974 | 61 | ||||
| 73,427 | ||||||
| Egypt (0.0%) | ||||||
| Commercial International Bank - Egypt (CIB) | 501,716 | 1,398 | ||||
| Telecom Egypt Co. | 114,206 | 222 | ||||
| * | EFG Holding S.A.E. | 235,464 | 133 | |||
| 1,753 | ||||||
| Finland (0.7%) | ||||||
| Nordea Bank Abp | 647,323 | 12,526 | ||||
| Nokia OYJ | 999,654 | 7,672 | ||||
| Sampo OYJ Class A (XHEL) | 460,493 | 5,104 | ||||
| Kone OYJ Class B | 62,145 | 4,685 | ||||
| Orion OYJ Class B | 21,288 | 1,705 | ||||
| Stora Enso OYJ | 120,169 | 1,630 | ||||
| Elisa OYJ | 28,446 | 1,461 | ||||
| Kesko OYJ Class B | 50,794 | 1,252 | ||||
| Valmet OYJ | 29,014 | 972 | ||||
| Mandatum OYJ | 89,559 | 722 | ||||
| Huhtamaki OYJ | 17,027 | 636 | ||||
| Outokumpu OYJ | 77,077 | 521 | ||||
| TietoEVRY OYJ | 18,995 | 424 | ||||
| Kalmar OYJ Class B | 7,092 | 407 | ||||
| Sampo OYJ Class A | 28,955 | 321 | ||||
| * | Kojamo OYJ | 27,087 | 315 | |||
| Nokian Renkaat OYJ | 23,066 | 290 | ||||
| 3 | Terveystalo OYJ | 13,916 | 153 | |||
| Sanoma OYJ | 12,140 | 131 | ||||
| * | QT Group OYJ | 4,301 | 111 | |||
| Revenio Group OYJ | 3,982 | 87 | ||||
| * | YIT OYJ | 24,844 | 84 | |||
| Tokmanni Group Corp. | 8,131 | 77 | ||||
| Finnair OYJ | 14,604 | 60 | ||||
| Citycon OYJ | 10,816 | 49 | ||||
| 41,395 | ||||||
| France (3.5%) | ||||||
| BNP Paribas SA | 197,306 | 22,154 | ||||
| Sanofi SA | 214,060 | 20,935 | ||||
| Hermes International SCA | 6,797 | 16,336 | ||||
| AXA SA | 332,038 | 16,237 | ||||
| EssilorLuxottica SA | 57,544 | 15,231 | ||||
| L'Oreal SA Loyalty Shares | 27,027 | 12,663 | ||||
| Societe Generale SA | 140,318 | 12,160 | ||||
| Danone SA | 126,419 | 10,872 | ||||
| Legrand SA | 49,898 | 9,038 | ||||
34
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Orange SA | 415,476 | 8,950 | ||||
| L'Oreal SA (XPAR) | 15,031 | 7,043 | ||||
| Cie Generale des Etablissements Michelin SCA | 131,780 | 5,329 | ||||
| Kering SA | 14,000 | 4,695 | ||||
| STMicroelectronics NV | 128,767 | 4,296 | ||||
| Credit Agricole SA | 184,654 | 4,080 | ||||
| Publicis Groupe SA | 45,485 | 4,050 | ||||
| Unibail-Rodamco-Westfield | 24,301 | 3,045 | ||||
| Accor SA | 44,323 | 2,573 | ||||
| * | Alstom SA | 68,077 | 2,265 | |||
| Carrefour SA | 112,517 | 2,134 | ||||
| Rexel SA | 44,898 | 1,944 | ||||
| Eurofins Scientific SE | 22,666 | 1,826 | ||||
| Klepierre SA | 41,630 | 1,752 | ||||
| * | L'Oreal SA | 3,652 | 1,711 | |||
| Renault SA | 37,203 | 1,407 | ||||
| Ipsen SA | 6,991 | 1,365 | ||||
| SCOR SE | 35,828 | 1,306 | ||||
| Getlink SE | 58,816 | 1,277 | ||||
| Sartorius Stedim Biotech | 5,711 | 1,234 | ||||
| Elis SA | 36,228 | 1,162 | ||||
| Aeroports de Paris SA | 8,093 | 1,129 | ||||
| Edenred SE | 48,473 | 1,120 | ||||
| 3 | Amundi SA | 11,319 | 1,080 | |||
| BioMerieux | 8,690 | 1,027 | ||||
| Gecina SA | 9,942 | 918 | ||||
| 3 | Ayvens SA | 71,056 | 902 | |||
| Arkema SA | 12,157 | 885 | ||||
| Covivio SA | 10,678 | 783 | ||||
| Teleperformance SE | 10,851 | 656 | ||||
| Valeo SE | 39,293 | 567 | ||||
| SES SA Class A ADR | 75,047 | 559 | ||||
| Wendel SE | 4,757 | 497 | ||||
| Sodexo SA Loyalty Shares | 8,787 | 481 | ||||
| Sopra Steria Group | 2,823 | 437 | ||||
| Coface SA | 21,682 | 401 | ||||
| Virbac SACA | 908 | 396 | ||||
| * | Forvia SE (XPAR) | 27,639 | 392 | |||
| * | Air France-KLM | 23,061 | 333 | |||
| Vivendi SE | 124,049 | 322 | ||||
| Trigano SA | 1,550 | 307 | ||||
| Mercialys SA | 21,129 | 306 | ||||
| Sodexo SA | 5,534 | 303 | ||||
| IPSOS SA | 7,394 | 300 | ||||
| Eurazeo SE Loyalty Shares | 5,067 | 298 | ||||
| ICADE | 10,829 | 275 | ||||
| * | ID Logistics Group SACA | 580 | 273 | |||
| Carmila SA | 12,444 | 272 | ||||
| Argan SA | 3,214 | 270 | ||||
| JCDecaux SE | 12,779 | 263 | ||||
| Societe BIC SA | 3,777 | 243 | ||||
| Vusion | 1,627 | 229 | ||||
| Vicat SACA | 2,703 | 227 | ||||
| * | Clariane SE | 46,776 | 223 | |||
| Derichebourg SA | 19,884 | 221 | ||||
| * | SOITEC | 4,542 | 219 | |||
| Pluxee NV | 15,299 | 204 | ||||
| Opmobility | 10,023 | 201 | ||||
| SEB SA Loyalty Shares | 3,202 | 197 | ||||
| Imerys SA | 5,907 | 170 | ||||
| Television Francaise 1 SA | 19,771 | 169 | ||||
| Altarea SCA | 1,106 | 168 | ||||
| Eurazeo SE | 2,616 | 154 | ||||
| Metropole Television SA | 10,126 | 138 | ||||
| 1 | Eramet SA | 1,891 | 132 | |||
| LISI SA (XPAR) | 1,963 | 130 | ||||
| * | Eutelsat Communications SACA | 48,260 | 128 | |||
| Interparfums SA | 3,996 | 116 | ||||
| SEB SA | 1,869 | 115 | ||||
| Sodexo SA Loyalty Shares 2026 | 2,080 | 114 | ||||
35
ESG International Stock ETF
36
ESG International Stock ETF
37
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 1 | GFT Technologies SE | 2,991 | 56 | |||
| Deutsche EuroShop AG | 2,227 | 55 | ||||
| PATRIZIA SE | 5,313 | 51 | ||||
| Adesso SE | 656 | 48 | ||||
| Draegerwerk AG & Co. KGaA | 311 | 28 | ||||
| Takkt AG | 4,126 | 16 | ||||
| 316,901 | ||||||
| Greece (0.2%) | ||||||
| National Bank of Greece SA | 168,945 | 2,748 | ||||
| Eurobank SA | 494,683 | 2,292 | ||||
| * | Piraeus Bank SA | 218,046 | 2,092 | |||
| Alpha Bank SA | 423,196 | 1,861 | ||||
| Bank of Cyprus Holdings plc | 70,314 | 768 | ||||
| JUMBO SA | 24,776 | 726 | ||||
| Hellenic Telecommunications Organization SA | 30,078 | 625 | ||||
| Optima bank SA | 36,230 | 418 | ||||
| Titan SA | 6,566 | 407 | ||||
| Athens International Airport SA | 11,913 | 161 | ||||
| Aegean Airlines SA | 8,428 | 137 | ||||
| Viohalco SA | 6,060 | 113 | ||||
| * | Aktor SA Holding Co. Technical & Energy Projects | 8,539 | 106 | |||
| * | LAMDA Development SA | 11,159 | 92 | |||
| Sarantis SA | 4,643 | 81 | ||||
| Holding Co. ADMIE IPTO SA | 18,833 | 68 | ||||
| Fourlis Holdings SA | 12,102 | 65 | ||||
| Piraeus Port Authority SA | 1,251 | 56 | ||||
| Autohellas Tourist & Trading SA | 3,090 | 47 | ||||
| Quest Holdings SA | 5,654 | 46 | ||||
| Ideal Holdings SA | 5,257 | 37 | ||||
| Ellaktor SA | 13,171 | 20 | ||||
| 12,966 | ||||||
| Hong Kong (1.3%) | ||||||
| AIA Group Ltd. | 2,099,000 | 23,155 | ||||
| Hong Kong Exchanges & Clearing Ltd. | 237,300 | 12,678 | ||||
| Sun Hung Kai Properties Ltd. | 284,000 | 5,280 | ||||
| Techtronic Industries Co. Ltd. | 291,500 | 4,721 | ||||
| BOC Hong Kong Holdings Ltd. | 724,000 | 4,141 | ||||
| Link REIT | 524,220 | 2,592 | ||||
| 3 | WH Group Ltd. | 1,604,592 | 2,017 | |||
| Lenovo Group Ltd. | 1,526,000 | 1,884 | ||||
| Hongkong Land Holdings Ltd. | 209,700 | 1,816 | ||||
| MTR Corp. Ltd. | 311,500 | 1,483 | ||||
| Shenzhou International Group Holdings Ltd. | 160,284 | 1,289 | ||||
| Wharf Real Estate Investment Co. Ltd. | 340,000 | 1,252 | ||||
| Sino Land Co. Ltd. | 696,000 | 1,134 | ||||
| Henderson Land Development Co. Ltd. | 250,400 | 1,132 | ||||
| SITC International Holdings Co. Ltd. | 263,000 | 1,122 | ||||
| * | MMG Ltd. | 787,200 | 1,081 | |||
| ASMPT Ltd. | 64,400 | 918 | ||||
| Swire Pacific Ltd. Class B | 392,500 | 693 | ||||
| AAC Technologies Holdings Inc. | 141,000 | 670 | ||||
| 3 | Samsonite Group SA | 272,400 | 670 | |||
| Swire Properties Ltd. | 188,200 | 648 | ||||
| Wharf Holdings Ltd. | 188,000 | 622 | ||||
| PRADA SpA | 104,100 | 590 | ||||
| Chow Tai Fook Jewellery Group Ltd. | 342,800 | 573 | ||||
| PCCW Ltd. | 736,590 | 559 | ||||
| Want Want China Holdings Ltd. | 874,000 | 547 | ||||
| Orient Overseas International Ltd. | 26,000 | 497 | ||||
| Hang Lung Properties Ltd. | 328,000 | 430 | ||||
| Cathay Pacific Airways Ltd. | 237,181 | 425 | ||||
| Yue Yuen Industrial Holdings Ltd. | 172,000 | 408 | ||||
| * | New World Development Co. Ltd. | 292,533 | 405 | |||
| Xinyi Glass Holdings Ltd. | 298,000 | 394 | ||||
| 3 | BOC Aviation Ltd. | 35,200 | 391 | |||
| Bank of East Asia Ltd. | 186,800 | 363 | ||||
| United Laboratories International Holdings Ltd. | 216,000 | 359 | ||||
| Kerry Properties Ltd. | 108,500 | 349 | ||||
| Hysan Development Co. Ltd. | 116,000 | 323 | ||||
38
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Johnson Electric Holdings Ltd. | 75,000 | 296 | ||||
| Hang Lung Group Ltd. | 135,000 | 289 | ||||
| *,3 | Everest Medicines Ltd. | 58,500 | 283 | |||
| Time Interconnect Technology Ltd. | 107,000 | 266 | ||||
| * | Duality Biotherapeutics Inc. | 6,200 | 250 | |||
| *,1,3 | FIT Hon Teng Ltd. | 311,000 | 249 | |||
| Swire Pacific Ltd. Class A | 22,500 | 242 | ||||
| Nexteer Automotive Group Ltd. | 240,000 | 229 | ||||
| VTech Holdings Ltd. | 27,700 | 228 | ||||
| *,1 | Vobile Group Ltd. | 359,000 | 226 | |||
| DFI Retail Group Holdings Ltd. | 53,200 | 223 | ||||
| Luk Fook Holdings International Ltd. | 55,180 | 207 | ||||
| Stella International Holdings Ltd. | 103,500 | 200 | ||||
| *,1 | OSL Group Ltd. | 97,000 | 198 | |||
| CTF Services Ltd. | 167,200 | 191 | ||||
| * | Bright Smart Securities & Commodities Group Ltd. | 170,000 | 186 | |||
| Man Wah Holdings Ltd. | 281,200 | 183 | ||||
| *,3 | HBM Holdings Ltd. | 117,000 | 182 | |||
| Guotai Junan International Holdings Ltd. | 495,000 | 177 | ||||
| Fortune REIT | 242,000 | 168 | ||||
| Dah Sing Financial Holdings Ltd. | 29,600 | 161 | ||||
| Dah Sing Banking Group Ltd. | 73,200 | 122 | ||||
| Shangri-La Asia Ltd. | 186,000 | 121 | ||||
| SY Holdings Group Ltd. | 88,500 | 120 | ||||
| CITIC Telecom International Holdings Ltd. | 343,000 | 115 | ||||
| *,3 | CARsgen Therapeutics Holdings Ltd. | 63,000 | 114 | |||
| Champion REIT | 317,000 | 113 | ||||
| *,1 | Realord Group Holdings Ltd. | 64,000 | 112 | |||
| VSTECS Holdings Ltd. | 108,000 | 109 | ||||
| Vitasoy International Holdings Ltd. | 120,000 | 109 | ||||
| HKBN Ltd. | 112,500 | 106 | ||||
| Prosperity REIT | 535,000 | 103 | ||||
| * | Deep Source Holdings Ltd. | 910,000 | 101 | |||
| * | Envision Greenwise Holdings Ltd. | 247,204 | 101 | |||
| Chow Sang Sang Holdings International Ltd. | 55,000 | 98 | ||||
| 1 | SUNeVision Holdings Ltd. | 109,000 | 94 | |||
| Giordano International Ltd. | 384,000 | 75 | ||||
| SmarTone Telecommunications Holdings Ltd. | 110,000 | 74 | ||||
| * | China Travel International Investment Hong Kong Ltd. | 412,000 | 70 | |||
| Value Partners Group Ltd. | 216,000 | 66 | ||||
| *,2 | Jinchuan Group International Resources Co. Ltd. | 784,000 | 64 | |||
| K Wah International Holdings Ltd. | 168,000 | 61 | ||||
| IGG Inc. | 137,000 | 55 | ||||
| Beijing Tong Ren Tang Chinese Medicine Co. Ltd. | 46,000 | 51 | ||||
| Hutchison Telecommunications Hong Kong Holdings Ltd. | 326,000 | 49 | ||||
| * | Television Broadcasts Ltd. | 108,000 | 42 | |||
| Texhong International Group Ltd. | 49,000 | 42 | ||||
| LK Technology Holdings Ltd. | 87,500 | 37 | ||||
| KLN Logistics Group Ltd. | 39,500 | 36 | ||||
| Truly International Holdings Ltd. | 258,000 | 33 | ||||
| Cafe de Coral Holdings Ltd. | 50,000 | 30 | ||||
| * | Far East Consortium International Ltd. | 244,000 | 28 | |||
| * | Asia Cement China Holdings Corp. | 93,000 | 28 | |||
| *,3 | IMAX China Holding Inc. | 26,900 | 28 | |||
| Singamas Container Holdings Ltd. | 246,000 | 21 | ||||
| * | Shun Tak Holdings Ltd. | 206,000 | 18 | |||
| C-Mer Medical Holdings Ltd. | 96,000 | 18 | ||||
| 84,809 | ||||||
| Hungary (0.1%) | ||||||
| OTP Bank Nyrt. | 45,828 | 5,650 | ||||
| Richter Gedeon Nyrt. | 27,470 | 1,030 | ||||
| Magyar Telekom Telecommunications plc | 53,080 | 360 | ||||
| Opus Global Nyrt. | 59,834 | 102 | ||||
| 7,142 | ||||||
| Iceland (0.0%) | ||||||
| 3 | Arion Banki HF | 304,321 | 500 | |||
| Islandsbanki HF | 378,912 | 428 | ||||
| Hagar hf | 178,547 | 175 | ||||
| Festi hf | 50,621 | 142 | ||||
39
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Reitir fasteignafelag hf | 123,407 | 131 | ||||
| Kvika banki hf | 763,073 | 119 | ||||
| * | Alvotech SA | 22,471 | 90 | |||
| Heimar HF | 268,301 | 81 | ||||
| Sjova-Almennar Tryggingar hf | 152,709 | 53 | ||||
| Siminn HF | 396,130 | 46 | ||||
| Eimskipafelag Islands hf | 20,593 | 42 | ||||
| Skagi Hf | 252,748 | 39 | ||||
| * | Icelandair Group HF | 2,957,458 | 19 | |||
| 1,865 | ||||||
| India (4.2%) | ||||||
| HDFC Bank Ltd. | 2,257,485 | 22,067 | ||||
| ICICI Bank Ltd. | 1,052,084 | 15,999 | ||||
| Bharti Airtel Ltd. (XNSE) | 511,833 | 10,597 | ||||
| Infosys Ltd. | 706,491 | 10,126 | ||||
| Axis Bank Ltd. | 458,593 | 6,985 | ||||
| Bajaj Finance Ltd. | 562,562 | 6,170 | ||||
| Kotak Mahindra Bank Ltd. | 1,089,143 | 4,978 | ||||
| State Bank of India | 368,235 | 4,869 | ||||
| Hindustan Unilever Ltd. | 177,019 | 4,551 | ||||
| Maruti Suzuki India Ltd. | 26,235 | 4,289 | ||||
| Sun Pharmaceutical Industries Ltd. | 210,678 | 4,039 | ||||
| Titan Co. Ltd. | 73,207 | 3,487 | ||||
| HCL Technologies Ltd. | 213,452 | 3,267 | ||||
| Power Grid Corp. of India Ltd. | 905,812 | 2,979 | ||||
| Shriram Finance Ltd. | 248,317 | 2,952 | ||||
| * | Eternal Ltd. | 893,032 | 2,417 | |||
| Asian Paints Ltd. | 89,931 | 2,353 | ||||
| Eicher Motors Ltd. | 26,589 | 2,343 | ||||
| Nestle India Ltd. | 143,210 | 2,035 | ||||
| 3 | InterGlobe Aviation Ltd. | 37,620 | 2,002 | |||
| TVS Motor Co. Ltd. (XNSE) | 46,221 | 1,969 | ||||
| 3 | SBI Life Insurance Co. Ltd. | 85,297 | 1,911 | |||
| Divi's Laboratories Ltd. | 25,694 | 1,814 | ||||
| Max Healthcare Institute Ltd. | 147,936 | 1,781 | ||||
| Jio Financial Services Ltd. | 624,838 | 1,757 | ||||
| Apollo Hospitals Enterprise Ltd. | 20,052 | 1,727 | ||||
| Dr Reddy's Laboratories Ltd. | 120,904 | 1,716 | ||||
| Bajaj Finserv Ltd. | 75,998 | 1,667 | ||||
| Hero MotoCorp Ltd. | 26,187 | 1,645 | ||||
| Tata Consumer Products Ltd. | 130,956 | 1,643 | ||||
| Cipla Ltd. | 109,466 | 1,626 | ||||
| Cholamandalam Investment & Finance Co. Ltd. | 84,645 | 1,613 | ||||
| Trent Ltd. | 35,802 | 1,538 | ||||
| Britannia Industries Ltd. | 23,184 | 1,530 | ||||
| 2 | Bharti Airtel Ltd. | 86,223 | 1,503 | |||
| Bajaj Auto Ltd. | 13,390 | 1,469 | ||||
| 3 | HDFC Life Insurance Co. Ltd. | 184,934 | 1,455 | |||
| Ashok Leyland Ltd. | 577,490 | 1,341 | ||||
| * | Indus Towers Ltd. | 267,131 | 1,338 | |||
| Power Finance Corp. Ltd. | 292,745 | 1,333 | ||||
| Varun Beverages Ltd. | 265,489 | 1,319 | ||||
| Samvardhana Motherson International Ltd. | 898,140 | 1,318 | ||||
| Indian Hotels Co. Ltd. Class A | 172,222 | 1,265 | ||||
| Wipro Ltd. | 568,689 | 1,260 | ||||
| Federal Bank Ltd. | 374,188 | 1,235 | ||||
| Lupin Ltd. | 48,542 | 1,234 | ||||
| *,3 | Avenue Supermarts Ltd. | 28,859 | 1,224 | |||
| BSE Ltd. | 39,951 | 1,192 | ||||
| 3 | HDFC Asset Management Co. Ltd. | 39,305 | 1,167 | |||
| * | PB Fintech Ltd. | 67,009 | 1,092 | |||
| Persistent Systems Ltd. | 20,927 | 1,092 | ||||
| Godrej Consumer Products Ltd. | 79,876 | 1,070 | ||||
| GE Vernova T&D India Ltd. | 24,843 | 1,051 | ||||
| * | Max Financial Services Ltd. | 52,583 | 1,049 | |||
| Pidilite Industries Ltd. | 63,215 | 1,038 | ||||
| * | Suzlon Energy Ltd. | 2,139,038 | 1,005 | |||
| Torrent Pharmaceuticals Ltd. | 21,007 | 1,002 | ||||
| 3 | ICICI Lombard General Insurance Co. Ltd. | 47,615 | 997 | |||
40
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Fortis Healthcare Ltd. | 95,874 | 995 | ||||
| REC Ltd. | 253,933 | 978 | ||||
| * | One 97 Communications Ltd. | 79,184 | 957 | |||
| Marico Ltd. | 103,916 | 901 | ||||
| DLF Ltd. | 129,975 | 864 | ||||
| SRF Ltd. | 30,091 | 849 | ||||
| Coforge Ltd. | 64,824 | 849 | ||||
| Dixon Technologies India Ltd. | 7,296 | 846 | ||||
| 3 | Laurus Labs Ltd. | 70,787 | 839 | |||
| APL Apollo Tubes Ltd. | 33,895 | 833 | ||||
| Info Edge India Ltd. | 73,528 | 833 | ||||
| Embassy Office Parks REIT | 174,470 | 816 | ||||
| * | Yes Bank Ltd. | 3,535,646 | 806 | |||
| UPL Ltd. | 113,113 | 794 | ||||
| 3 | AU Small Finance Bank Ltd. | 74,141 | 781 | |||
| Muthoot Finance Ltd. | 20,841 | 769 | ||||
| Havells India Ltd. | 49,254 | 757 | ||||
| Voltas Ltd. | 43,394 | 745 | ||||
| Bank of Baroda | 208,753 | 740 | ||||
| Aurobindo Pharma Ltd. | 54,560 | 734 | ||||
| Bosch Ltd. | 1,831 | 733 | ||||
| Dabur India Ltd. | 125,389 | 715 | ||||
| * | Adani Energy Solutions Ltd. | 64,059 | 713 | |||
| Colgate-Palmolive India Ltd. | 28,019 | 695 | ||||
| KEI Industries Ltd. | 12,411 | 694 | ||||
| Phoenix Mills Ltd. | 37,507 | 685 | ||||
| Hitachi Energy India Ltd. | 2,435 | 685 | ||||
| Multi Commodity Exchange of India Ltd. | 25,208 | 678 | ||||
| IDFC First Bank Ltd. | 837,616 | 677 | ||||
| Punjab National Bank | 470,476 | 670 | ||||
| Tube Investments of India Ltd. | 22,043 | 667 | ||||
| Bajaj Holdings & Investment Ltd. | 5,563 | 661 | ||||
| * | Adani Green Energy Ltd. | 62,546 | 652 | |||
| * | FSN E-Commerce Ventures Ltd. | 221,054 | 648 | |||
| Union Bank of India Ltd. | 289,632 | 645 | ||||
| Glenmark Pharmaceuticals Ltd. | 27,384 | 644 | ||||
| Mphasis Ltd. | 24,948 | 631 | ||||
| Hindustan Zinc Ltd. | 94,046 | 626 | ||||
| 360 ONE WAM Ltd. | 50,836 | 618 | ||||
| 3 | Lodha Developers Ltd. | 56,421 | 614 | |||
| * | GMR Airports Ltd. | 545,543 | 604 | |||
| * | Vodafone Idea Ltd. | 5,141,449 | 600 | |||
| Indian Bank | 55,031 | 600 | ||||
| Canara Bank | 344,228 | 596 | ||||
| * | Godrej Properties Ltd. | 31,161 | 593 | |||
| * | IndusInd Bank Ltd. | 55,403 | 583 | |||
| Mahindra & Mahindra Financial Services Ltd. | 138,513 | 570 | ||||
| Coromandel International Ltd. | 22,958 | 561 | ||||
| Zydus Lifesciences Ltd. | 53,894 | 548 | ||||
| 3 | ICICI Prudential Life Insurance Co. Ltd. | 75,168 | 541 | |||
| Blue Star Ltd. | 25,229 | 538 | ||||
| Mankind Pharma Ltd. | 21,577 | 534 | ||||
| PI Industries Ltd. | 15,235 | 523 | ||||
| Supreme Industries Ltd. | 11,512 | 504 | ||||
| 3 | Sona Blw Precision Forgings Ltd. | 85,030 | 501 | |||
| * | Delhivery Ltd. | 104,869 | 500 | |||
| Alkem Laboratories Ltd. | 8,053 | 499 | ||||
| Navin Fluorine International Ltd. | 7,226 | 498 | ||||
| Biocon Ltd. | 114,790 | 493 | ||||
| NHPC Ltd. | 594,903 | 493 | ||||
| * | SBI Cards & Payment Services Ltd. | 55,604 | 474 | |||
| Astral Ltd. | 25,732 | 472 | ||||
| Indian Railway Catering & Tourism Corp. Ltd. | 74,651 | 468 | ||||
| 3 | Brookfield India Real Estate Trust | 114,761 | 466 | |||
| Jubilant Foodworks Ltd. | 80,718 | 462 | ||||
| UNO Minda Ltd. | 35,202 | 460 | ||||
| Prestige Estates Projects Ltd. | 29,602 | 454 | ||||
| * | Piramal Finance Ltd. | 23,525 | 451 | |||
| Ipca Laboratories Ltd. | 26,637 | 448 | ||||
| * | Aditya Birla Capital Ltd. | 117,485 | 445 | |||
41
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Schaeffler India Ltd. | 9,242 | 444 | ||||
| Tata Communications Ltd. | 24,220 | 425 | ||||
| Hindustan Copper Ltd. | 67,372 | 420 | ||||
| Page Industries Ltd. | 1,136 | 401 | ||||
| Balkrishna Industries Ltd. | 15,206 | 399 | ||||
| *,3 | Krishna Institute of Medical Sciences Ltd. | 48,051 | 394 | |||
| Computer Age Management Services Ltd. | 52,573 | 392 | ||||
| 3 | Indian Railway Finance Corp. Ltd. | 342,905 | 391 | |||
| Patanjali Foods Ltd. | 69,803 | 390 | ||||
| Oberoi Realty Ltd. | 23,170 | 388 | ||||
| Rail Vikas Nigam Ltd. | 109,587 | 381 | ||||
| JB Chemicals & Pharmaceuticals Ltd. | 16,805 | 379 | ||||
| 3 | Nippon Life India Asset Management Ltd. | 36,874 | 378 | |||
| * | Amber Enterprises India Ltd. | 4,248 | 373 | |||
| Redington Ltd. | 119,912 | 370 | ||||
| 3 | Gland Pharma Ltd. | 18,398 | 370 | |||
| Karur Vysya Bank Ltd. | 102,711 | 369 | ||||
| Crompton Greaves Consumer Electricals Ltd. | 125,006 | 355 | ||||
| 3 | Aster DM Healthcare Ltd. | 49,335 | 355 | |||
| Bank of India | 182,056 | 353 | ||||
| Manappuram Finance Ltd. | 112,945 | 351 | ||||
| Oracle Financial Services Software Ltd. | 4,570 | 350 | ||||
| Cholamandalam Financial Holdings Ltd. | 19,397 | 349 | ||||
| 3 | RBL Bank Ltd. | 98,746 | 348 | |||
| LIC Housing Finance Ltd. | 58,627 | 347 | ||||
| Tata Elxsi Ltd. | 6,520 | 324 | ||||
| 3 | PNB Housing Finance Ltd. | 34,686 | 315 | |||
| Dalmia Bharat Ltd. | 13,862 | 304 | ||||
| Narayana Hrudayalaya Ltd. | 15,079 | 303 | ||||
| Apollo Tyres Ltd. | 59,914 | 299 | ||||
| 3 | Bandhan Bank Ltd. | 147,824 | 296 | |||
| Ajanta Pharma Ltd. | 8,968 | 296 | ||||
| *,3 | SAI Life Sciences Ltd. | 26,642 | 293 | |||
| Exide Industries Ltd. | 78,078 | 287 | ||||
| Bharti Hexacom Ltd. | 15,963 | 283 | ||||
| * | Kaynes Technology India Ltd. | 6,641 | 282 | |||
| * | Poonawalla Fincorp Ltd. | 55,233 | 276 | |||
| Acutaas Chemicals Ltd. | 11,270 | 268 | ||||
| ZF Commercial Vehicle Control Systems India Ltd. | 1,577 | 263 | ||||
| * | Star Health & Allied Insurance Co. Ltd. | 51,068 | 262 | |||
| Central Depository Services India Ltd. | 18,380 | 258 | ||||
| Linde India Ltd. | 3,453 | 256 | ||||
| Anand Rathi Wealth Ltd. | 7,541 | 255 | ||||
| Tata Technologies Ltd. | 39,081 | 252 | ||||
| Gujarat Fluorochemicals Ltd. | 6,540 | 251 | ||||
| Neuland Laboratories Ltd. | 1,778 | 251 | ||||
| 3 | Sansera Engineering Ltd. | 9,684 | 250 | |||
| 3 | Dr Lal PathLabs Ltd. | 15,754 | 243 | |||
| KPIT Technologies Ltd. | 28,466 | 242 | ||||
| Force Motors Ltd. | 902 | 242 | ||||
| 3 | General Insurance Corp. of India | 56,826 | 239 | |||
| Kfin Technologies Ltd. | 22,584 | 238 | ||||
| Bank of Maharashtra | 283,968 | 234 | ||||
| * | Onesource Specialty Pharma Ltd. | 15,766 | 233 | |||
| Amara Raja Energy & Mobility Ltd. | 24,786 | 230 | ||||
| IIFL Finance Ltd. | 41,448 | 226 | ||||
| * | Sammaan Capital Ltd. | 137,240 | 226 | |||
| Berger Paints India Ltd. | 45,068 | 226 | ||||
| PG Electroplast Ltd. | 32,632 | 225 | ||||
| Asahi India Glass Ltd. | 22,424 | 222 | ||||
| City Union Bank Ltd. | 70,998 | 221 | ||||
| 3 | Home First Finance Co. India Ltd. | 18,503 | 221 | |||
| Tata Chemicals Ltd. | 27,875 | 220 | ||||
| KPR Mill Ltd. | 22,053 | 218 | ||||
| GlaxoSmithKline Pharmaceuticals Ltd. | 7,548 | 214 | ||||
| Deepak Nitrite Ltd. | 12,319 | 214 | ||||
| 3 | IRB InvIT Fund | 314,236 | 214 | |||
| * | Wockhardt Ltd. | 14,202 | 213 | |||
| Motilal Oswal Financial Services Ltd. | 26,606 | 212 | ||||
| Atul Ltd. | 2,874 | 211 | ||||
42
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Affle 3i Ltd. | 13,944 | 211 | |||
| * | Indian Renewable Energy Development Agency Ltd. | 156,108 | 210 | |||
| Escorts Kubota Ltd. | 5,344 | 207 | ||||
| Motherson Sumi Wiring India Ltd. | 435,700 | 207 | ||||
| Tamilnad Mercantile Bank Ltd. | 27,783 | 204 | ||||
| Angel One Ltd. | 79,200 | 203 | ||||
| Global Health Ltd. | 16,154 | 202 | ||||
| Aptus Value Housing Finance India Ltd. | 74,916 | 201 | ||||
| Himadri Speciality Chemical Ltd. | 37,070 | 198 | ||||
| 3 | Mindspace Business Parks REIT | 38,203 | 194 | |||
| Sundram Fasteners Ltd. | 19,854 | 191 | ||||
| Thermax Ltd. | 5,464 | 187 | ||||
| NBCC India Ltd. | 182,813 | 186 | ||||
| Brigade Enterprises Ltd. | 24,310 | 186 | ||||
| Piramal Pharma Ltd. | 105,782 | 182 | ||||
| 3 | PowerGrid Infrastructure Investment Trust | 176,352 | 180 | |||
| Aarti Industries Ltd. | 36,391 | 179 | ||||
| TVS Holdings Ltd. | 1,075 | 179 | ||||
| Housing & Urban Development Corp. Ltd. | 87,323 | 179 | ||||
| * | Cartrade Tech Ltd. | 9,041 | 179 | |||
| 3 | Endurance Technologies Ltd. | 6,057 | 178 | |||
| Craftsman Automation Ltd. | 2,148 | 178 | ||||
| * | Bajaj Housing Finance Ltd. | 185,859 | 178 | |||
| Emami Ltd. | 34,857 | 177 | ||||
| Nuvama Wealth Management Ltd. | 12,890 | 177 | ||||
| Carborundum Universal Ltd. | 19,313 | 175 | ||||
| * | AWL Agri Business Ltd. | 84,220 | 175 | |||
| Elgi Equipments Ltd. | 29,769 | 175 | ||||
| CRISIL Ltd. | 3,614 | 174 | ||||
| Natco Pharma Ltd. | 15,901 | 173 | ||||
| Anant Raj Ltd. | 29,696 | 173 | ||||
| Honeywell Automation India Ltd. | 503 | 171 | ||||
| * | Inox Wind Ltd. | 168,477 | 171 | |||
| * | Medplus Health Services Ltd. | 18,276 | 170 | |||
| IRB Infrastructure Developers Ltd. | 371,279 | 170 | ||||
| Firstsource Solutions Ltd. | 70,756 | 166 | ||||
| Granules India Ltd. | 25,705 | 165 | ||||
| LMW Ltd. | 1,009 | 164 | ||||
| JK Tyre & Industries Ltd. | 29,422 | 162 | ||||
| UTI Asset Management Co. Ltd. | 14,665 | 159 | ||||
| Five-Star Business Finance Ltd. | 34,358 | 158 | ||||
| Zee Entertainment Enterprises Ltd. | 162,209 | 156 | ||||
| 3 | Syngene International Ltd. | 32,973 | 153 | |||
| Ceat Ltd. | 3,877 | 151 | ||||
| *,3 | Ujjivan Small Finance Bank Ltd. | 236,169 | 151 | |||
| KEC International Ltd. | 23,374 | 150 | ||||
| Gujarat Narmada Valley Fertilizers & Chemicals Ltd. | 29,928 | 150 | ||||
| Rainbow Children's Medicare Ltd. | 11,469 | 150 | ||||
| Kajaria Ceramics Ltd. | 14,110 | 149 | ||||
| Chambal Fertilisers & Chemicals Ltd. | 28,577 | 145 | ||||
| Sanofi India Ltd. | 3,312 | 145 | ||||
| Can Fin Homes Ltd. | 15,638 | 145 | ||||
| * | Jyoti CNC Automation Ltd. | 16,026 | 145 | |||
| 3 | Paradeep Phosphates Ltd. | 107,649 | 144 | |||
| 3 | Metropolis Healthcare Ltd. | 6,778 | 142 | |||
| * | CreditAccess Grameen Ltd. | 10,221 | 142 | |||
| Grindwell Norton Ltd. | 7,784 | 142 | ||||
| * | Inventurus Knowledge Solutions Ltd. | 9,364 | 142 | |||
| * | PVR Inox Ltd. | 12,518 | 141 | |||
| CCL Products India Ltd. | 12,568 | 141 | ||||
| * | Aadhar Housing Finance Ltd. | 27,800 | 140 | |||
| Gabriel India Ltd. | 12,739 | 140 | ||||
| Vijaya Diagnostic Centre Ltd. | 12,533 | 139 | ||||
| Syrma SGS Technology Ltd. | 15,155 | 137 | ||||
| eClerx Services Ltd. | 3,887 | 136 | ||||
| Deepak Fertilisers & Petrochemicals Corp. Ltd. | 12,265 | 134 | ||||
| Aditya Birla Real Estate Ltd. | 9,118 | 130 | ||||
| Akzo Nobel India Ltd. | 3,999 | 129 | ||||
| Pricol Ltd. | 19,488 | 129 | ||||
| Zensar Technologies Ltd. | 20,622 | 128 | ||||
43
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| IDBI Bank Ltd. | 100,582 | 128 | ||||
| Godawari Power & Ispat Ltd. | 43,678 | 128 | ||||
| Gillette India Ltd. | 1,378 | 126 | ||||
| Sobha Ltd. | 8,229 | 126 | ||||
| Edelweiss Financial Services Ltd. | 99,055 | 125 | ||||
| Metro Brands Ltd. | 10,677 | 124 | ||||
| Chalet Hotels Ltd. | 13,805 | 123 | ||||
| EIH Ltd. | 35,540 | 122 | ||||
| Bikaji Foods International Ltd. | 17,353 | 122 | ||||
| Finolex Cables Ltd. | 11,998 | 120 | ||||
| * | Go Digit General Insurance Ltd. | 32,564 | 120 | |||
| *,3 | Lemon Tree Hotels Ltd. | 95,313 | 119 | |||
| Netweb Technologies India Ltd. | 2,811 | 119 | ||||
| Bayer CropScience Ltd. | 2,304 | 118 | ||||
| Aditya Birla Sun Life Asset Management Co. Ltd. | 12,005 | 118 | ||||
| *,3 | Eris Lifesciences Ltd. | 7,825 | 117 | |||
| 3 | IndiaMart InterMesh Ltd. | 4,968 | 117 | |||
| Capri Global Capital Ltd. | 66,300 | 117 | ||||
| RR Kabel Ltd. | 6,800 | 117 | ||||
| Whirlpool of India Ltd. | 11,377 | 116 | ||||
| South Indian Bank Ltd. | 255,395 | 116 | ||||
| Techno Electric & Engineering Co. Ltd. | 8,977 | 116 | ||||
| Shyam Metalics & Energy Ltd. | 12,282 | 116 | ||||
| * | Ola Electric Mobility Ltd. | 418,841 | 116 | |||
| * | Aavas Financiers Ltd. | 8,103 | 115 | |||
| Procter & Gamble Health Ltd. | 2,139 | 115 | ||||
| * | Nazara Technologies Ltd. | 39,584 | 115 | |||
| Vardhman Textiles Ltd. | 18,985 | 114 | ||||
| Triveni Turbine Ltd. | 21,220 | 114 | ||||
| V-Guard Industries Ltd. | 32,871 | 113 | ||||
| 3 | Indian Energy Exchange Ltd. | 81,790 | 113 | |||
| * | Devyani International Ltd. | 80,824 | 113 | |||
| Balrampur Chini Mills Ltd. | 21,686 | 112 | ||||
| VA Tech Wabag Ltd. | 8,055 | 112 | ||||
| Jubilant Pharmova Ltd. | 11,646 | 111 | ||||
| Swan Corp. Ltd. | 26,077 | 110 | ||||
| Zydus Wellness Ltd. | 25,933 | 110 | ||||
| 3 | Tejas Networks Ltd. | 22,704 | 109 | |||
| LT Foods Ltd. | 24,621 | 109 | ||||
| Mahindra Lifespace Developers Ltd. | 27,307 | 108 | ||||
| Intellect Design Arena Ltd. | 13,756 | 106 | ||||
| Arvind Ltd. | 27,116 | 105 | ||||
| Bata India Ltd. | 12,060 | 105 | ||||
| Graphite India Ltd. | 13,217 | 104 | ||||
| Strides Pharma Science Ltd. | 10,999 | 103 | ||||
| CIE Automotive India Ltd. | 19,896 | 103 | ||||
| Sumitomo Chemical India Ltd. | 23,061 | 102 | ||||
| JM Financial Ltd. | 71,695 | 101 | ||||
| Jyothy Labs Ltd. | 36,119 | 101 | ||||
| * | Schneider Electric Infrastructure Ltd. | 10,147 | 101 | |||
| Voltamp Transformers Ltd. | 989 | 99 | ||||
| SJVN Ltd. | 123,718 | 99 | ||||
| Jupiter Life Line Hospitals Ltd. | 7,090 | 99 | ||||
| Gujarat Pipavav Port Ltd. | 50,252 | 98 | ||||
| Finolex Industries Ltd. | 48,299 | 98 | ||||
| JK Lakshmi Cement Ltd. | 12,222 | 96 | ||||
| Afcons Infrastructure Ltd. | 30,021 | 96 | ||||
| Sun TV Network Ltd. | 13,364 | 95 | ||||
| Supreme Petrochem Ltd. | 12,053 | 95 | ||||
| Jammu & Kashmir Bank Ltd. | 69,532 | 93 | ||||
| Ramkrishna Forgings Ltd. | 15,246 | 93 | ||||
| AstraZeneca Pharma India Ltd. | 940 | 92 | ||||
| * | Borosil Renewables Ltd. | 18,281 | 92 | |||
| * | Sapphire Foods India Ltd. | 40,718 | 92 | |||
| 3 | IRCON International Ltd. | 57,566 | 91 | |||
| * | Tbo Tek Ltd. | 6,754 | 91 | |||
| * | Indian Overseas Bank | 223,855 | 90 | |||
| Sonata Software Ltd. | 30,435 | 90 | ||||
| Happiest Minds Technologies Ltd. | 22,625 | 90 | ||||
| Century Plyboards India Ltd. | 11,074 | 90 | ||||
44
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Gravita India Ltd. | 5,012 | 89 | ||||
| Vesuvius India Ltd. | 15,938 | 88 | ||||
| * | India Cements Ltd. | 19,426 | 87 | |||
| * | Cohance Lifesciences Ltd. | 25,598 | 87 | |||
| * | IFCI Ltd. | 130,566 | 86 | |||
| Aarti Pharmalabs Ltd. | 10,783 | 86 | ||||
| * | NMDC Steel Ltd. | 192,559 | 86 | |||
| CMS Info Systems Ltd. | 25,646 | 86 | ||||
| Poly Medicure Ltd. | 6,152 | 85 | ||||
| Sudarshan Chemical Industries Ltd. | 8,735 | 84 | ||||
| * | Godrej Industries Ltd. | 7,586 | 83 | |||
| *,3 | Equitas Small Finance Bank Ltd. | 117,793 | 83 | |||
| Maharashtra Scooters Ltd. | 570 | 83 | ||||
| * | Bajaj Consumer Care Ltd. | 18,816 | 82 | |||
| * | Tata Teleservices Maharashtra Ltd. | 179,772 | 82 | |||
| * | Honasa Consumer Ltd. | 24,651 | 82 | |||
| Karnataka Bank Ltd. | 36,222 | 81 | ||||
| Care Ratings Ltd. | 4,496 | 80 | ||||
| * | Alok Industries Ltd. | 504,977 | 80 | |||
| Jubilant Ingrevia Ltd. | 12,412 | 80 | ||||
| * | Sterlite Technologies Ltd. | 45,252 | 79 | |||
| PTC India Ltd. | 42,916 | 79 | ||||
| BASF India Ltd. | 2,087 | 79 | ||||
| Doms Industries Ltd. | 3,075 | 79 | ||||
| SKF India Ltd. | 4,051 | 78 | ||||
| Alembic Pharmaceuticals Ltd. | 9,875 | 77 | ||||
| Welspun Living Ltd. | 55,642 | 77 | ||||
| * | Gokaldas Exports Ltd. | 10,847 | 77 | |||
| Safari Industries India Ltd. | 3,864 | 76 | ||||
| Sanofi Consumer Healthcare India Ltd. | 1,538 | 76 | ||||
| Minda Corp. Ltd. | 12,445 | 76 | ||||
| DCM Shriram Ltd. | 6,563 | 75 | ||||
| Time Technoplast Ltd. | 36,906 | 75 | ||||
| * | Aditya Birla Fashion & Retail Ltd. | 99,633 | 74 | |||
| Vinati Organics Ltd. | 4,540 | 74 | ||||
| Clean Science & Technology Ltd. | 9,148 | 74 | ||||
| * | Embassy Developments Ltd. | 109,715 | 73 | |||
| Olectra Greentech Ltd. | 6,685 | 73 | ||||
| Garware Hi-Tech Films Ltd. | 1,568 | 73 | ||||
| Prudent Corporate Advisory Services Ltd. | 2,839 | 73 | ||||
| 3 | Godrej Agrovet Ltd. | 10,211 | 72 | |||
| DCB Bank Ltd. | 34,932 | 71 | ||||
| Kaveri Seed Co. Ltd. | 8,322 | 71 | ||||
| Fine Organic Industries Ltd. | 1,380 | 71 | ||||
| * | SBFC Finance Ltd. | 68,853 | 71 | |||
| Marksans Pharma Ltd. | 36,440 | 70 | ||||
| Elecon Engineering Co. Ltd. | 15,333 | 70 | ||||
| 3 | KPI Green Energy Ltd. | 16,531 | 70 | |||
| Gujarat State Fertilizers & Chemicals Ltd. | 36,863 | 69 | ||||
| Action Construction Equipment Ltd. | 7,077 | 69 | ||||
| Caplin Point Laboratories Ltd. | 3,703 | 69 | ||||
| 3 | New India Assurance Co. Ltd. | 41,672 | 68 | |||
| * | SignatureGlobal India Ltd. | 6,286 | 68 | |||
| IIFL Capital Services Ltd. | 20,617 | 66 | ||||
| Transformers & Rectifiers India Ltd. | 19,212 | 66 | ||||
| Blue Dart Express Ltd. | 1,046 | 65 | ||||
| EPL Ltd. | 27,302 | 65 | ||||
| Westlife Foodworld Ltd. | 11,967 | 65 | ||||
| Arvind Fashions Ltd. | 13,438 | 65 | ||||
| Concord Biotech Ltd. | 4,855 | 65 | ||||
| Archean Chemical Industries Ltd. | 10,131 | 64 | ||||
| * | Rategain Travel Technologies Ltd. | 10,956 | 64 | |||
| Bombay Burmah Trading Co. | 3,378 | 63 | ||||
| * | TeamLease Services Ltd. | 4,720 | 63 | |||
| Jupiter Wagons Ltd. | 21,508 | 63 | ||||
| RITES Ltd. | 26,289 | 62 | ||||
| * | Just Dial Ltd. | 10,065 | 61 | |||
| Shilpa Medicare Ltd. | 16,518 | 61 | ||||
| Triveni Engineering & Industries Ltd. | 13,964 | 61 | ||||
| Mrs Bectors Food Specialities Ltd. | 26,640 | 61 | ||||
45
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Eureka Forbes Ltd. | 11,555 | 60 | |||
| Tanla Platforms Ltd. | 11,484 | 58 | ||||
| Route Mobile Ltd. | 10,373 | 58 | ||||
| BLS International Services Ltd. | 18,726 | 58 | ||||
| Garware Technical Fibres Ltd. | 8,057 | 57 | ||||
| Suprajit Engineering Ltd. | 11,965 | 57 | ||||
| Shakti Pumps India Ltd. | 9,941 | 56 | ||||
| * | VIP Industries Ltd. | 14,063 | 55 | |||
| Genus Power Infrastructures Ltd. | 18,537 | 54 | ||||
| KRBL Ltd. | 14,242 | 53 | ||||
| Trident Ltd. | 187,460 | 53 | ||||
| Cemindia Projects Ltd. | 8,374 | 53 | ||||
| * | Nuvoco Vistas Corp. Ltd. | 14,469 | 52 | |||
| Newgen Software Technologies Ltd. | 9,279 | 52 | ||||
| Rain Industries Ltd. | 31,205 | 51 | ||||
| Rallis India Ltd. | 16,583 | 51 | ||||
| Mastek Ltd. | 2,925 | 51 | ||||
| JK Paper Ltd. | 12,236 | 49 | ||||
| NIIT Learning Systems Ltd. | 13,096 | 49 | ||||
| ION Exchange India Ltd. | 12,312 | 49 | ||||
| Railtel Corp. of India Ltd. | 14,223 | 49 | ||||
| * | AvenuesAI Ltd. | 261,334 | 48 | |||
| PNC Infratech Ltd. | 21,196 | 48 | ||||
| Alkyl Amines Chemicals | 2,943 | 48 | ||||
| * | Restaurant Brands Asia Ltd. | 68,950 | 48 | |||
| Rhi Magnesita India Ltd. | 10,072 | 48 | ||||
| JBM Auto Ltd. | 7,860 | 48 | ||||
| Orient Electric Ltd. | 23,155 | 47 | ||||
| Gateway Distriparks Ltd. | 72,920 | 47 | ||||
| * | Sterling & Wilson Renewable | 21,526 | 47 | |||
| * | Valor Estate Ltd. | 37,366 | 47 | |||
| Cera Sanitaryware Ltd. | 854 | 46 | ||||
| * | V-Mart Retail Ltd. | 7,392 | 45 | |||
| Relaxo Footwears Ltd. | 11,513 | 44 | ||||
| * | Raymond Lifestyle Ltd. | 4,580 | 44 | |||
| Vedant Fashions Ltd. | 9,932 | 43 | ||||
| AurionPro Solutions Ltd. | 4,415 | 43 | ||||
| ISGEC Heavy Engineering Ltd. | 4,401 | 43 | ||||
| Saregama India Ltd. | 11,090 | 41 | ||||
| Electrosteel Castings Ltd. | 53,872 | 41 | ||||
| * | Network18 Media & Investments Ltd. | 112,065 | 41 | |||
| G R Infraprojects Ltd. | 3,796 | 40 | ||||
| * | TVS Supply Chain Solutions Ltd. | 31,467 | 40 | |||
| Cello World Ltd. | 8,481 | 39 | ||||
| Texmaco Rail & Engineering Ltd. | 33,832 | 39 | ||||
| GMM Pfaudler Ltd. | 3,738 | 38 | ||||
| * | Zaggle Prepaid Ocean Services Ltd. | 15,081 | 38 | |||
| Bajaj Electricals Ltd. | 9,251 | 37 | ||||
| TTK Prestige Ltd. | 6,400 | 37 | ||||
| * | Websol Energy System Ltd. | 60,310 | 37 | |||
| KNR Constructions Ltd. | 24,359 | 36 | ||||
| Paisalo Digital Ltd. | 91,590 | 36 | ||||
| Pfizer Ltd. | 627 | 35 | ||||
| * | Rajesh Exports Ltd. | 22,367 | 35 | |||
| * | Sheela Foam Ltd. | 5,702 | 34 | |||
| Galaxy Surfactants Ltd. | 1,566 | 34 | ||||
| NOCIL Ltd. | 20,920 | 33 | ||||
| Campus Activewear Ltd. | 11,285 | 32 | ||||
| * | Chemplast Sanmar Ltd. | 11,255 | 31 | |||
| Polyplex Corp. Ltd. | 3,353 | 31 | ||||
| Thomas Cook India Ltd. | 26,428 | 30 | ||||
| Symphony Ltd. | 3,473 | 30 | ||||
| Anup Engineering Ltd. | 1,748 | 30 | ||||
| * | Ashoka Buildcon Ltd. | 20,729 | 30 | |||
| Balaji Amines Ltd. | 2,333 | 28 | ||||
| Orient Cement Ltd. | 16,763 | 28 | ||||
| * | Raymond Ltd. | 6,055 | 27 | |||
| Vaibhav Global Ltd. | 10,869 | 27 | ||||
| * | Sun Pharma Advanced Research Co. Ltd. | 18,416 | 26 | |||
| * | Jai Balaji Industries Ltd. | 33,135 | 25 | |||
46
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 3 | Quess Corp. Ltd. | 10,991 | 24 | |||
| NIIT Ltd. | 13,822 | 11 | ||||
| *,2 | Allcargo Worldwide Ltd. | 43,908 | 11 | |||
| * | Allcargo Logistics Ltd. | 43,908 | 4 | |||
| * | Genus Prime Infra Ltd. | 3,089 | 1 | |||
| *,2 | TVS Motor Co. Ltd. | 187,768 | — | |||
| 265,188 | ||||||
| Indonesia (0.3%) | ||||||
| Bank Central Asia Tbk. PT | 9,923,216 | 4,237 | ||||
| Bank Rakyat Indonesia Persero Tbk. PT | 13,408,896 | 3,120 | ||||
| Bank Mandiri Persero Tbk. PT | 8,773,740 | 2,754 | ||||
| Telkom Indonesia Persero Tbk. PT | 8,938,100 | 1,886 | ||||
| * | Amman Mineral Internasional PT | 2,389,400 | 1,090 | |||
| Bank Negara Indonesia Persero Tbk. PT | 2,456,100 | 644 | ||||
| * | Bumi Resources Minerals Tbk. PT | 10,498,500 | 607 | |||
| * | Merdeka Copper Gold Tbk. PT | 2,500,700 | 559 | |||
| * | GoTo Gojek Tokopedia Tbk. PT Class A | 149,875,200 | 545 | |||
| * | Barito Pacific Tbk. PT | 4,173,061 | 495 | |||
| Sumber Alfaria Trijaya Tbk. PT | 3,936,300 | 391 | ||||
| Charoen Pokphand Indonesia Tbk. PT | 1,367,300 | 346 | ||||
| Indofood Sukses Makmur Tbk. PT | 854,600 | 329 | ||||
| Indah Kiat Pulp & Paper Tbk. PT | 444,000 | 306 | ||||
| Kalbe Farma Tbk. PT | 3,724,200 | 245 | ||||
| Trimegah Bangun Persada Tbk. PT | 2,281,093 | 209 | ||||
| Vale Indonesia Tbk. PT | 435,853 | 205 | ||||
| Indofood CBP Sukses Makmur Tbk. PT | 431,200 | 202 | ||||
| Elang Mahkota Teknologi Tbk. PT | 3,000,500 | 159 | ||||
| XLSMART Telecom Sejahtera Tbk. PT | 837,150 | 158 | ||||
| Unilever Indonesia Tbk. PT | 1,013,300 | 144 | ||||
| Indosat Tbk. PT | 996,500 | 137 | ||||
| Sarana Menara Nusantara Tbk. PT | 4,248,300 | 128 | ||||
| Mitra Keluarga Karyasehat Tbk. PT | 937,800 | 123 | ||||
| Medikaloka Hermina Tbk. PT | 1,529,600 | 117 | ||||
| Mitra Adiperkasa Tbk. PT | 1,332,000 | 107 | ||||
| Japfa Comfeed Indonesia Tbk. PT | 728,500 | 103 | ||||
| * | Bukalapak.com PT Tbk. | 11,365,500 | 99 | |||
| Dayamitra Telekomunikasi PT | 3,106,300 | 97 | ||||
| * | Bank Jago Tbk. PT | 961,900 | 91 | |||
| Cisarua Mountain Dairy PT Tbk. | 286,700 | 89 | ||||
| Bank Syariah Indonesia Tbk. PT | 612,200 | 86 | ||||
| Mayora Indah Tbk. PT | 635,500 | 80 | ||||
| Indocement Tunggal Prakarsa Tbk. PT | 205,200 | 76 | ||||
| Jasa Marga Persero Tbk. PT | 344,300 | 76 | ||||
| Ciputra Development Tbk. PT | 1,616,400 | 74 | ||||
| Map Aktif Adiperkasa PT | 1,628,800 | 68 | ||||
| Pakuwon Jati Tbk. PT | 2,817,300 | 61 | ||||
| * | MNC Digital Entertainment Tbk. PT | 1,605,000 | 61 | |||
| Bank Tabungan Negara Persero Tbk. PT | 659,148 | 55 | ||||
| Avia Avian Tbk. PT | 2,084,900 | 55 | ||||
| BFI Finance Indonesia Tbk. PT | 1,106,500 | 52 | ||||
| Summarecon Agung Tbk. PT | 2,027,206 | 45 | ||||
| PT Tower Bersama Infrastructure Tbk. | 418,292 | 42 | ||||
| * | Bumi Serpong Damai Tbk. PT | 826,400 | 41 | |||
| Bank Pan Indonesia Tbk. PT | 624,100 | 40 | ||||
| *,2 | Waskita Karya Persero Tbk. PT | 3,046,719 | 37 | |||
| * | Lippo Karawaci Tbk. PT | 5,486,600 | 35 | |||
| * | Bank Neo Commerce Tbk. PT | 1,508,738 | 33 | |||
| Aspirasi Hidup Indonesia Tbk. PT | 1,279,700 | 31 | ||||
| Surya Citra Media Tbk. PT | 1,876,100 | 31 | ||||
| Industri Jamu Dan Farmasi Sido Muncul Tbk. PT | 872,600 | 28 | ||||
| Perusahaan Perkebunan London Sumatra Indonesia Tbk. PT | 358,500 | 25 | ||||
| Matahari Department Store Tbk. PT | 218,000 | 25 | ||||
| * | Panin Financial Tbk. PT | 1,525,900 | 25 | |||
| Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk. PT | 462,726 | 23 | ||||
| Bank BTPN Syariah Tbk. PT | 276,900 | 19 | ||||
| * | Media Nusantara Citra Tbk. PT | 608,900 | 8 | |||
| * | Siloam International Hospitals Tbk. PT | 47,400 | 8 | |||
| 20,962 | ||||||
47
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Ireland (0.3%) | ||||||
| AIB Group plc | 425,833 | 4,420 | ||||
| Bank of Ireland Group plc | 192,072 | 3,740 | ||||
| Kingspan Group plc | 30,678 | 3,037 | ||||
| Kerry Group plc Class A | 32,331 | 2,873 | ||||
| Ryanair Holdings plc | 30,713 | 992 | ||||
| Glanbia plc (XDUB) | 34,612 | 716 | ||||
| Cairn Homes plc | 122,670 | 345 | ||||
| Glanbia plc (XLON) | 28 | 1 | ||||
| 16,124 | ||||||
| Israel (0.8%) | ||||||
| Bank Leumi Le-Israel BM | 297,383 | 7,199 | ||||
| Bank Hapoalim BM | 262,668 | 6,629 | ||||
| Israel Discount Bank Ltd. Class A | 245,574 | 2,972 | ||||
| * | Tower Semiconductor Ltd. | 22,440 | 2,844 | |||
| * | Nova Ltd. | 5,951 | 2,614 | |||
| Phoenix Financial Ltd. | 45,905 | 2,347 | ||||
| Mizrahi Tefahot Bank Ltd. | 30,485 | 2,284 | ||||
| * | Enlight Renewable Energy Ltd. | 26,837 | 1,841 | |||
| Next Vision Stabilized Systems Ltd. | 14,081 | 1,606 | ||||
| Bezeq The Israeli Telecommunication Corp. Ltd. | 563,794 | 1,487 | ||||
| * | Nice Ltd. | 12,451 | 1,426 | |||
| Harel Insurance Investments & Financial Services Ltd. | 22,525 | 1,185 | ||||
| Clal Insurance Enterprises Holdings Ltd. | 14,239 | 1,065 | ||||
| Azrieli Group Ltd. | 7,335 | 1,054 | ||||
| * | Camtek Ltd. | 6,043 | 1,007 | |||
| First International Bank of Israel Ltd. | 10,251 | 882 | ||||
| Tel Aviv Stock Exchange Ltd. | 17,056 | 832 | ||||
| Big Shopping Centers Ltd. | 3,134 | 755 | ||||
| Mega Or Holdings Ltd. | 4,232 | 689 | ||||
| ICL Group Ltd. | 136,472 | 647 | ||||
| Menora Mivtachim Holdings Ltd. | 4,352 | 623 | ||||
| FIBI Holdings Ltd. | 4,668 | 488 | ||||
| Strauss Group Ltd. | 9,634 | 425 | ||||
| Alony Hetz Properties & Investments Ltd. | 27,718 | 326 | ||||
| YH Dimri Construction & Development Ltd. | 2,156 | 307 | ||||
| Reit 1 Ltd. | 38,836 | 290 | ||||
| Matrix IT Ltd. | 9,563 | 289 | ||||
| Partner Communications Co. Ltd. | 22,232 | 272 | ||||
| El Al Israel Airlines | 54,105 | 270 | ||||
| * | Fattal Holdings 1998 Ltd. | 1,363 | 267 | |||
| Meitav Investment House Ltd. | 7,261 | 266 | ||||
| Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. | 1,929 | 248 | ||||
| Israel Canada T.R Ltd. | 39,515 | 248 | ||||
| Electra Ltd. | 7,752 | 235 | ||||
| * | OY Nofar Energy Ltd. | 4,224 | 224 | |||
| Cellcom Israel Ltd. | 18,443 | 215 | ||||
| Hilan Ltd. | 3,207 | 205 | ||||
| Ashtrom Group Ltd. | 8,267 | 180 | ||||
| Aura Investments Ltd. | 25,229 | 167 | ||||
| Isracard Ltd. | 34,022 | 162 | ||||
| IDI Insurance Co. Ltd. | 2,170 | 158 | ||||
| * | Nayax Ltd. | 3,000 | 151 | |||
| Fox Wizel Ltd. | 1,542 | 139 | ||||
| Inrom Construction Industries Ltd. | 21,373 | 137 | ||||
| Danel Adir Yeoshua Ltd. | 931 | 131 | ||||
| * | Priortech Ltd. | 1,398 | 123 | |||
| Summit Real Estate Holdings Ltd. | 6,698 | 121 | ||||
| Sella Capital Real Estate Ltd. | 38,179 | 111 | ||||
| Delta Galil Ltd. | 1,907 | 92 | ||||
| Elco Ltd. | 1,586 | 77 | ||||
| * | Perion Network Ltd. | 9,141 | 76 | |||
| G City Ltd. | 17,504 | 44 | ||||
| * | Orion Retail Properties Ltd. | 2,116 | 2 | |||
| 48,434 | ||||||
| Italy (1.8%) | ||||||
| UniCredit SpA | 305,179 | 25,985 | ||||
| Intesa Sanpaolo SpA | 3,059,993 | 20,996 | ||||
| Ferrari NV | 23,832 | 9,004 | ||||
48
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Generali | 192,520 | 8,198 | ||||
| Banco BPM SpA | 294,934 | 4,344 | ||||
| Banca Monte dei Paschi di Siena SpA | 417,267 | 4,072 | ||||
| BPER Banca SpA | 279,085 | 3,931 | ||||
| Terna - Rete Elettrica Nazionale | 277,088 | 3,334 | ||||
| Moncler SpA | 45,269 | 3,123 | ||||
| FinecoBank Banca Fineco SpA | 124,227 | 2,924 | ||||
| Stellantis NV | 355,591 | 2,885 | ||||
| 3 | Poste Italiane SpA | 88,557 | 2,372 | |||
| Unipol Assicurazioni SpA | 75,753 | 1,885 | ||||
| * | Telecom Italia SpA (MTAA) | 2,059,449 | 1,545 | |||
| Recordati Industria Chimica e Farmaceutica SpA | 21,643 | 1,237 | ||||
| * | Telecom Italia SpA | 1,325,549 | 1,159 | |||
| Buzzi SpA | 16,942 | 977 | ||||
| Banca Mediolanum SpA | 45,481 | 976 | ||||
| Azimut Holding SpA | 23,041 | 950 | ||||
| Interpump Group SpA | 16,018 | 737 | ||||
| Banca Generali SpA | 11,002 | 709 | ||||
| Brunello Cucinelli SpA | 7,041 | 681 | ||||
| De' Longhi SpA | 14,527 | 666 | ||||
| 1,3 | Infrastrutture Wireless Italiane SpA | 62,431 | 662 | |||
| * | Technoprobe SpA | 30,383 | 610 | |||
| Stellantis NV (XPAR) | 73,590 | 599 | ||||
| 3 | Technogym SpA | 23,301 | 511 | |||
| Mediobanca Banca di Credito Finanziario SpA | 23,361 | 506 | ||||
| 3 | Pirelli & C SpA | 67,238 | 503 | |||
| Reply SpA | 4,532 | 485 | ||||
| 1,3 | Nexi SpA | 103,412 | 422 | |||
| Banca Popolare di Sondrio SPA | 19,200 | 388 | ||||
| Danieli & C Officine Meccaniche SpA Saving Shares | 6,714 | 374 | ||||
| Amplifon SpA | 23,388 | 363 | ||||
| DiaSorin SpA | 4,262 | 358 | ||||
| Webuild SpA | 88,919 | 346 | ||||
| Brembo NV | 25,716 | 305 | ||||
| ERG SpA | 10,180 | 300 | ||||
| 3 | Enav SpA | 45,370 | 295 | |||
| 3 | Carel Industries SpA | 8,805 | 241 | |||
| Credito Emiliano SpA | 12,959 | 238 | ||||
| Tamburi Investment Partners SpA | 19,274 | 216 | ||||
| Banca IFIS SpA | 6,968 | 202 | ||||
| Danieli & C Officine Meccaniche SpA | 2,307 | 184 | ||||
| Cementir Holding NV | 9,119 | 172 | ||||
| *,3 | BFF Bank SpA | 33,116 | 147 | |||
| Intercos SpA | 9,227 | 135 | ||||
| El.En. SpA | 7,843 | 131 | ||||
| Sesa SpA | 1,433 | 130 | ||||
| Italmobiliare SpA | 3,700 | 126 | ||||
| 3 | RAI Way SpA | 15,922 | 116 | |||
| Moltiply Group SpA | 2,663 | 104 | ||||
| Sanlorenzo SpA | 2,560 | 101 | ||||
| Ariston Holding NV | 16,012 | 95 | ||||
| * | Salvatore Ferragamo SpA | 11,559 | 92 | |||
| 1 | MFE-MediaForEurope NV Class A | 24,848 | 91 | |||
| MFE-MediaForEurope NV Class B | 17,878 | 85 | ||||
| 1 | Tinexta SpA | 4,206 | 75 | |||
| 1 | Piaggio & C SpA | 33,025 | 71 | |||
| *,3 | GVS SpA | 14,805 | 70 | |||
| Arnoldo Mondadori Editore SpA | 28,394 | 69 | ||||
| MFE-MediaForEurope NV Class A | 18,443 | 67 | ||||
| 1 | Zignago Vetro SpA | 5,908 | 54 | |||
| MARR SpA | 4,699 | 52 | ||||
| *,1 | Juventus Football Club SpA | 18,594 | 51 | |||
| 3 | Anima Holding SpA | 5,526 | 45 | |||
| Rizzoli Corriere Della Sera Mediagroup SpA | 37,711 | 43 | ||||
| Alerion Cleanpower SpA | 837 | 19 | ||||
| 112,939 | ||||||
| Japan (16.1%) | ||||||
| Toyota Motor Corp. | 2,119,200 | 51,345 | ||||
| Mitsubishi UFJ Financial Group Inc. | 2,191,400 | 40,681 | ||||
49
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Sumitomo Mitsui Financial Group Inc. | 736,700 | 27,800 | ||||
| Sony Group Corp. | 1,199,400 | 27,572 | ||||
| Advantest Corp. | 145,900 | 25,265 | ||||
| Tokyo Electron Ltd. | 88,500 | 24,902 | ||||
| Mizuho Financial Group Inc. | 487,020 | 21,728 | ||||
| SoftBank Group Corp. | 782,300 | 20,032 | ||||
| Keyence Corp. | 37,300 | 15,720 | ||||
| Fast Retailing Co. Ltd. | 35,300 | 15,478 | ||||
| Tokio Marine Holdings Inc. | 366,700 | 15,230 | ||||
| Shin-Etsu Chemical Co. Ltd. | 368,500 | 14,508 | ||||
| Hoya Corp. | 67,400 | 12,174 | ||||
| Takeda Pharmaceutical Co. Ltd. | 314,357 | 11,766 | ||||
| Recruit Holdings Co. Ltd. | 266,649 | 11,603 | ||||
| Nintendo Co. Ltd. | 201,100 | 11,374 | ||||
| Sumitomo Electric Industries Ltd. | 149,900 | 9,905 | ||||
| KDDI Corp. | 550,900 | 9,463 | ||||
| Fujikura Ltd. | 54,600 | 9,323 | ||||
| Chugai Pharmaceutical Co. Ltd. | 128,100 | 8,638 | ||||
| Murata Manufacturing Co. Ltd. | 325,900 | 8,522 | ||||
| Disco Corp. | 17,500 | 8,414 | ||||
| FANUC Corp. | 183,600 | 8,313 | ||||
| SoftBank Corp. | 5,655,530 | 7,736 | ||||
| Fujitsu Ltd. | 341,400 | 7,611 | ||||
| Honda Motor Co. Ltd. | 744,800 | 7,461 | ||||
| Mitsubishi Estate Co. Ltd. | 216,400 | 7,298 | ||||
| Daiichi Sankyo Co. Ltd. | 368,000 | 7,248 | ||||
| Panasonic Holdings Corp. | 448,700 | 7,236 | ||||
| Dai-ichi Life Holdings Inc. | 689,800 | 7,078 | ||||
| Mitsui Fudosan Co. Ltd. | 521,100 | 7,024 | ||||
| Japan Post Bank Co. Ltd. | 357,618 | 7,001 | ||||
| Aeon Co. Ltd. | 489,320 | 6,966 | ||||
| Sompo Holdings Inc. | 171,700 | 6,812 | ||||
| NEC Corp. | 245,400 | 6,803 | ||||
| MS&AD Insurance Group Holdings Inc. | 241,700 | 6,735 | ||||
| Ajinomoto Co. Inc. | 192,600 | 6,126 | ||||
| Renesas Electronics Corp. | 322,477 | 6,082 | ||||
| Seven & i Holdings Co. Ltd. | 425,600 | 6,002 | ||||
| Otsuka Holdings Co. Ltd. | 87,100 | 6,002 | ||||
| Astellas Pharma Inc. | 358,900 | 5,973 | ||||
| TDK Corp. | 378,000 | 5,840 | ||||
| Nomura Holdings Inc. | 584,700 | 5,428 | ||||
| Resona Holdings Inc. | 443,950 | 5,417 | ||||
| NTT Inc. | 5,510,200 | 5,391 | ||||
| Bridgestone Corp. | 222,000 | 5,359 | ||||
| Suzuki Motor Corp. | 351,800 | 5,320 | ||||
| SMC Corp. | 10,900 | 5,214 | ||||
| East Japan Railway Co. | 209,200 | 5,167 | ||||
| Denso Corp. | 357,000 | 5,122 | ||||
| Canon Inc. | 166,300 | 5,026 | ||||
| Central Japan Railway Co. | 166,900 | 4,926 | ||||
| FUJIFILM Holdings Corp. | 237,200 | 4,878 | ||||
| Kyocera Corp. | 264,600 | 4,673 | ||||
| Sumitomo Mitsui Trust Group Inc. | 129,100 | 4,502 | ||||
| Sumitomo Realty & Development Co. Ltd. | 130,200 | 4,402 | ||||
| Japan Post Holdings Co. Ltd. | 332,067 | 4,324 | ||||
| Toyota Industries Corp. | 32,700 | 4,235 | ||||
| Daiwa House Industry Co. Ltd. | 116,800 | 4,215 | ||||
| Asics Corp. | 133,900 | 4,103 | ||||
| Kubota Corp. | 191,300 | 3,889 | ||||
| Terumo Corp. | 287,300 | 3,887 | ||||
| Kao Corp. | 89,800 | 3,835 | ||||
| Oriental Land Co. Ltd. | 210,900 | 3,800 | ||||
| Shionogi & Co. Ltd. | 149,900 | 3,539 | ||||
| Lasertec Corp. | 15,500 | 3,342 | ||||
| Nitto Denko Corp. | 135,400 | 3,140 | ||||
| Secom Co. Ltd. | 78,600 | 3,049 | ||||
| Bandai Namco Holdings Inc. | 111,500 | 3,023 | ||||
| Ibiden Co. Ltd. | 49,600 | 3,016 | ||||
| Asahi Kasei Corp. | 251,200 | 2,961 | ||||
| Sekisui House Ltd. | 118,900 | 2,905 | ||||
50
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Daifuku Co. Ltd. | 69,300 | 2,861 | ||||
| Japan Exchange Group Inc. | 207,300 | 2,821 | ||||
| Resonac Holdings Corp. | 36,867 | 2,800 | ||||
| Daiwa Securities Group Inc. | 263,200 | 2,766 | ||||
| Pan Pacific International Holdings Corp. | 387,800 | 2,592 | ||||
| T&D Holdings Inc. | 92,900 | 2,502 | ||||
| SCREEN Holdings Co. Ltd. | 17,100 | 2,493 | ||||
| Toray Industries Inc. | 289,800 | 2,482 | ||||
| Furukawa Electric Co. Ltd. | 13,500 | 2,419 | ||||
| Yokohama Financial Group Inc. | 218,800 | 2,362 | ||||
| SBI Holdings Inc. | 108,300 | 2,316 | ||||
| Nomura Research Institute Ltd. | 82,800 | 2,272 | ||||
| Ryohin Keikaku Co. Ltd. | 95,000 | 2,168 | ||||
| Olympus Corp. | 212,100 | 2,078 | ||||
| Mitsubishi Chemical Group Corp. | 278,100 | 2,064 | ||||
| Isuzu Motors Ltd. | 107,900 | 2,011 | ||||
| Niterra Co. Ltd. | 39,200 | 1,977 | ||||
| Chiba Bank Ltd. | 132,800 | 1,975 | ||||
| Makita Corp. | 50,600 | 1,958 | ||||
| Shizuoka Financial Group Inc. | 96,700 | 1,944 | ||||
| West Japan Railway Co. | 88,902 | 1,912 | ||||
| Eisai Co. Ltd. | 54,700 | 1,842 | ||||
| Yaskawa Electric Corp. | 51,900 | 1,826 | ||||
| Aisin Corp. | 102,300 | 1,816 | ||||
| Obic Co. Ltd. | 65,900 | 1,775 | ||||
| TOPPAN Holdings Inc. | 49,000 | 1,678 | ||||
| Fukuoka Financial Group Inc. | 38,200 | 1,671 | ||||
| Unicharm Corp. | 242,800 | 1,661 | ||||
| Nexon Co. Ltd. | 78,000 | 1,657 | ||||
| MINEBEA MITSUMI Inc. | 77,200 | 1,655 | ||||
| Shiseido Co. Ltd. | 78,200 | 1,651 | ||||
| Kokusai Electric Corp. | 39,700 | 1,629 | ||||
| Nitori Holdings Co. Ltd. | 81,000 | 1,623 | ||||
| Shimano Inc. | 15,200 | 1,623 | ||||
| Dai Nippon Printing Co. Ltd. | 78,000 | 1,621 | ||||
| Mitsubishi HC Capital Inc. | 166,860 | 1,617 | ||||
| Mebuki Financial Group Inc. | 188,100 | 1,613 | ||||
| Nippon Sanso Holdings Corp. | 40,400 | 1,550 | ||||
| Sekisui Chemical Co. Ltd. | 79,500 | 1,548 | ||||
| Capcom Co. Ltd. | 67,700 | 1,538 | ||||
| 1 | Yamaha Motor Co. Ltd. | 191,500 | 1,523 | |||
| * | Rakuten Group Inc. | 285,900 | 1,518 | |||
| Nippon Building Fund Inc. | 1,606 | 1,494 | ||||
| Shimadzu Corp. | 52,300 | 1,456 | ||||
| Kikkoman Corp. | 150,300 | 1,445 | ||||
| Omron Corp. | 40,400 | 1,431 | ||||
| Sanrio Co. Ltd. | 38,700 | 1,419 | ||||
| Nippon Paint Holdings Co. Ltd. | 189,313 | 1,402 | ||||
| Hankyu Hanshin Holdings Inc. | 47,900 | 1,398 | ||||
| Ono Pharmaceutical Co. Ltd. | 80,000 | 1,375 | ||||
| Toyo Suisan Kaisha Ltd. | 17,400 | 1,369 | ||||
| Daito Trust Construction Co. Ltd. | 58,300 | 1,343 | ||||
| Hulic Co. Ltd. | 99,870 | 1,324 | ||||
| MEIJI Holdings Co. Ltd. | 51,100 | 1,318 | ||||
| LY Corp. | 526,700 | 1,302 | ||||
| Isetan Mitsukoshi Holdings Ltd. | 64,900 | 1,274 | ||||
| Tokyu Fudosan Holdings Corp. | 125,500 | 1,262 | ||||
| Kyoto Financial Group Inc. | 50,600 | 1,253 | ||||
| Japan Post Insurance Co. Ltd. | 38,339 | 1,251 | ||||
| Yokohama Rubber Co. Ltd. | 24,800 | 1,247 | ||||
| Tokyu Corp. | 95,800 | 1,224 | ||||
| Rohm Co. Ltd. | 66,300 | 1,216 | ||||
| * | Sony Financial Group Inc. | 1,178,100 | 1,205 | |||
| Nippon Express Holdings Inc. | 48,300 | 1,191 | ||||
| * | Nissan Motor Co. Ltd. | 430,372 | 1,186 | |||
| Tokyo Ohka Kogyo Co. Ltd. | 20,200 | 1,186 | ||||
| Kurita Water Industries Ltd. | 21,100 | 1,173 | ||||
| MISUMI Group Inc. | 57,600 | 1,160 | ||||
| Japan Real Estate Investment Corp. | 1,377 | 1,146 | ||||
| Tokyo Tatemono Co. Ltd. | 40,900 | 1,144 | ||||
51
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Mitsui Chemicals Inc. | 74,600 | 1,136 | ||||
| MatsukiyoCocokara & Co. | 68,600 | 1,135 | ||||
| TOTO Ltd. | 29,100 | 1,134 | ||||
| Haseko Corp. | 51,700 | 1,130 | ||||
| Amada Co. Ltd. | 67,400 | 1,121 | ||||
| Hachijuni Nagano Bank Ltd. | 84,400 | 1,121 | ||||
| Nissan Chemical Corp. | 24,300 | 1,105 | ||||
| Sumitomo Forestry Co. Ltd. | 101,200 | 1,094 | ||||
| Sanwa Holdings Corp. | 40,300 | 1,067 | ||||
| Mazda Motor Corp. | 120,000 | 1,063 | ||||
| Iyogin Holdings Inc. | 48,700 | 1,056 | ||||
| Japan Metropolitan Fund Investment Corp. | 1,330 | 1,037 | ||||
| Gunma Bank Ltd. | 71,200 | 1,029 | ||||
| Brother Industries Ltd. | 49,300 | 1,018 | ||||
| Open House Group Co. Ltd. | 13,700 | 1,014 | ||||
| Mitsubishi Materials Corp. | 26,400 | 1,013 | ||||
| COMSYS Holdings Corp. | 27,200 | 1,001 | ||||
| Toho Co. Ltd. | 99,000 | 992 | ||||
| USS Co. Ltd. | 81,500 | 990 | ||||
| Seibu Holdings Inc. | 33,200 | 986 | ||||
| Tosoh Corp. | 55,600 | 972 | ||||
| Hikari Tsushin Inc. | 3,400 | 961 | ||||
| Azbil Corp. | 103,200 | 958 | ||||
| Oji Holdings Corp. | 149,000 | 939 | ||||
| Nitto Boseki Co. Ltd. | 5,800 | 931 | ||||
| Square Enix Holdings Co. Ltd. | 55,600 | 916 | ||||
| Asahi Intecc Co. Ltd. | 42,500 | 916 | ||||
| Otsuka Corp. | 45,200 | 912 | ||||
| Sysmex Corp. | 95,800 | 904 | ||||
| Nissin Foods Holdings Co. Ltd. | 42,700 | 902 | ||||
| Mitsui E&S Co. Ltd. | 17,900 | 897 | ||||
| Tsuruha Holdings Inc. | 53,050 | 894 | ||||
| NH Foods Ltd. | 19,300 | 885 | ||||
| Nomura Real Estate Master Fund Inc. | 825 | 882 | ||||
| Kyowa Kirin Co. Ltd. | 47,400 | 881 | ||||
| EXEO Group Inc. | 45,900 | 880 | ||||
| M3 Inc. | 80,400 | 880 | ||||
| TIS Inc. | 42,300 | 874 | ||||
| SUMCO Corp. | 73,500 | 855 | ||||
| Nippon Prologis REIT Inc. | 1,451 | 851 | ||||
| Kintetsu Group Holdings Co. Ltd. | 40,100 | 849 | ||||
| Seiko Epson Corp. | 61,900 | 838 | ||||
| NSK Ltd. | 93,200 | 838 | ||||
| Hokuhoku Financial Group Inc. | 20,900 | 835 | ||||
| Nomura Real Estate Holdings Inc. | 111,000 | 826 | ||||
| Yakult Honsha Co. Ltd. | 49,076 | 822 | ||||
| * | Dentsu Group Inc. | 43,500 | 821 | |||
| Dowa Holdings Co. Ltd. | 11,100 | 820 | ||||
| 77 Bank Ltd. | 13,000 | 817 | ||||
| Tokyo Seimitsu Co. Ltd. | 7,400 | 814 | ||||
| 1 | SG Holdings Co. Ltd. | 79,934 | 811 | |||
| KDX Realty Investment Corp. | 740 | 806 | ||||
| Trend Micro Inc. | 24,100 | 802 | ||||
| Medipal Holdings Corp. | 40,300 | 790 | ||||
| Hamamatsu Photonics KK | 61,100 | 788 | ||||
| BayCurrent Inc. | 26,900 | 781 | ||||
| Santen Pharmaceutical Co. Ltd. | 68,600 | 771 | ||||
| Keisei Electric Railway Co. Ltd. | 88,700 | 770 | ||||
| Suntory Beverage & Food Ltd. | 24,500 | 770 | ||||
| THK Co. Ltd. | 21,100 | 760 | ||||
| Nikon Corp. | 59,100 | 754 | ||||
| CyberAgent Inc. | 84,900 | 749 | ||||
| Kuraray Co. Ltd. | 63,300 | 749 | ||||
| McDonald's Holdings Co. Japan Ltd. | 15,700 | 747 | ||||
| Hirose Electric Co. Ltd. | 5,000 | 745 | ||||
| United Urban Investment Corp. | 623 | 740 | ||||
| Hoshizaki Corp. | 21,000 | 738 | ||||
| Odakyu Electric Railway Co. Ltd. | 64,100 | 737 | ||||
| J Front Retailing Co. Ltd. | 44,400 | 732 | ||||
| Tobu Railway Co. Ltd. | 36,200 | 729 | ||||
52
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Rakuten Bank Ltd. | 17,800 | 724 | |||
| Marui Group Co. Ltd. | 35,400 | 720 | ||||
| Daiwa House REIT Investment Corp. | 846 | 720 | ||||
| Invincible Investment Corp. | 1,690 | 718 | ||||
| Taiyo Yuden Co. Ltd. | 23,200 | 708 | ||||
| Orix JREIT Inc. | 1,054 | 703 | ||||
| MonotaRO Co. Ltd. | 52,500 | 698 | ||||
| Kanematsu Corp. | 44,400 | 698 | ||||
| Rohto Pharmaceutical Co. Ltd. | 44,400 | 696 | ||||
| Takashimaya Co. Ltd. | 54,800 | 696 | ||||
| GS Yuasa Corp. | 19,400 | 689 | ||||
| Credit Saison Co. Ltd. | 22,600 | 688 | ||||
| Toyo Tire Corp. | 21,900 | 675 | ||||
| Kyushu Railway Co. | 26,300 | 668 | ||||
| Maruwa Co. Ltd. | 1,700 | 665 | ||||
| Nabtesco Corp. | 20,300 | 658 | ||||
| Nishi-Nippon Financial Holdings Inc. | 23,000 | 655 | ||||
| Citizen Watch Co. Ltd. | 52,900 | 647 | ||||
| Koito Manufacturing Co. Ltd. | 35,900 | 647 | ||||
| Taiheiyo Cement Corp. | 22,500 | 647 | ||||
| ZOZO Inc. | 88,400 | 643 | ||||
| Nisshin Seifun Group Inc. | 45,800 | 641 | ||||
| Yamato Holdings Co. Ltd. | 52,300 | 641 | ||||
| ANA Holdings Inc. | 29,241 | 638 | ||||
| Takasago Thermal Engineering Co. Ltd. | 19,000 | 638 | ||||
| Toyoda Gosei Co. Ltd. | 19,600 | 637 | ||||
| Japan Airlines Co. Ltd. | 30,723 | 635 | ||||
| Nagase & Co. Ltd. | 20,000 | 633 | ||||
| Yamaha Corp. | 81,300 | 630 | ||||
| ADEKA Corp. | 20,300 | 623 | ||||
| Fuji Corp. | 16,000 | 622 | ||||
| Persol Holdings Co. Ltd. | 387,900 | 620 | ||||
| Hirogin Holdings Inc. | 49,700 | 615 | ||||
| Kyushu Financial Group Inc. | 71,700 | 613 | ||||
| Hazama Ando Corp. | 44,400 | 608 | ||||
| Shimamura Co. Ltd. | 26,400 | 607 | ||||
| Sumitomo Rubber Industries Ltd. | 33,700 | 598 | ||||
| Coca-Cola Bottlers Japan Holdings Inc. | 22,600 | 597 | ||||
| 1 | Kobe Bussan Co. Ltd. | 25,000 | 595 | |||
| INFRONEER Holdings Inc. | 35,408 | 593 | ||||
| Toyo Seikan Group Holdings Ltd. | 22,400 | 585 | ||||
| Chugin Financial Group Inc. | 28,400 | 583 | ||||
| 1 | Tokyo Metro Co. Ltd. | 54,500 | 583 | |||
| Kraftia Corp. | 8,600 | 582 | ||||
| Yamaguchi Financial Group Inc. | 33,100 | 582 | ||||
| Ulvac Inc. | 8,700 | 581 | ||||
| Alfresa Holdings Corp. | 33,600 | 578 | ||||
| Lixil Corp. | 48,700 | 572 | ||||
| Daishi Hokuetsu Financial Group Inc. | 43,800 | 571 | ||||
| Nippon Electric Glass Co. Ltd. | 12,900 | 567 | ||||
| Dexerials Corp. | 34,200 | 564 | ||||
| Japan Hotel REIT Investment Corp. | 1,039 | 564 | ||||
| Yamazaki Baking Co. Ltd. | 25,000 | 562 | ||||
| Kansai Paint Co. Ltd. | 31,500 | 557 | ||||
| Lion Corp. | 47,300 | 556 | ||||
| ALSOK Co. Ltd. | 67,700 | 556 | ||||
| * | Sumitomo Pharma Co. Ltd. | 34,300 | 555 | |||
| Kamigumi Co. Ltd. | 14,900 | 555 | ||||
| Mitsubishi Logistics Corp. | 60,600 | 555 | ||||
| Kewpie Corp. | 19,200 | 551 | ||||
| SWCC Corp. | 5,600 | 551 | ||||
| Zenkoku Hosho Co. Ltd. | 26,700 | 550 | ||||
| NHK Spring Co. Ltd. | 28,500 | 547 | ||||
| Meiko Electronics Co. Ltd. | 3,900 | 547 | ||||
| Yamada Holdings Co. Ltd. | 145,700 | 541 | ||||
| Sankyu Inc. | 8,400 | 540 | ||||
| Nifco Inc. | 15,100 | 535 | ||||
| Keio Corp. | 19,900 | 534 | ||||
| JTEKT Corp. | 38,700 | 531 | ||||
| * | Mercari Inc. | 22,400 | 530 | |||
53
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Nissui Corp. | 52,800 | 524 | ||||
| SKY Perfect JSAT Holdings Inc. | 28,400 | 522 | ||||
| UACJ Corp. | 29,300 | 518 | ||||
| Advance Residence Investment Corp. | 468 | 515 | ||||
| Anritsu Corp. | 26,500 | 510 | ||||
| Organo Corp. | 4,600 | 510 | ||||
| Nichirei Corp. | 36,800 | 501 | ||||
| Yamato Kogyo Co. Ltd. | 6,000 | 499 | ||||
| DMG Mori Co. Ltd. | 25,000 | 495 | ||||
| Alps Alpine Co. Ltd. | 32,800 | 491 | ||||
| Iida Group Holdings Co. Ltd. | 27,500 | 489 | ||||
| Sekisui House REIT Inc. | 811 | 489 | ||||
| Taiyo Holdings Co. Ltd. | 14,200 | 488 | ||||
| Rinnai Corp. | 18,700 | 487 | ||||
| Macnica Holdings Inc. | 27,500 | 486 | ||||
| Socionext Inc. | 37,800 | 486 | ||||
| MIRAIT ONE Corp. | 18,100 | 470 | ||||
| 1 | Nikkon Holdings Co. Ltd. | 18,500 | 468 | |||
| North Pacific Bank Ltd. | 66,600 | 467 | ||||
| Japan Prime Realty Investment Corp. | 681 | 465 | ||||
| Suzuken Co. Ltd. | 11,000 | 464 | ||||
| Tokyo Century Corp. | 31,700 | 463 | ||||
| Shibaura Mechatronics Corp. | 12,500 | 460 | ||||
| Japan Airport Terminal Co. Ltd. | 13,400 | 457 | ||||
| Nankai Electric Railway Co. Ltd. | 22,900 | 457 | ||||
| Seiko Group Corp. | 5,300 | 448 | ||||
| Sugi Holdings Co. Ltd. | 19,500 | 447 | ||||
| Nagoya Railroad Co. Ltd. | 37,500 | 443 | ||||
| Micronics Japan Co. Ltd. | 5,700 | 442 | ||||
| DIC Corp. | 15,500 | 440 | ||||
| Stanley Electric Co. Ltd. | 20,700 | 437 | ||||
| BIPROGY Inc. | 14,300 | 434 | ||||
| Air Water Inc. | 31,200 | 433 | ||||
| CKD Corp. | 12,200 | 432 | ||||
| Casio Computer Co. Ltd. | 42,700 | 429 | ||||
| Daicel Corp. | 40,600 | 426 | ||||
| *,1 | Metaplanet Inc. | 206,800 | 426 | |||
| Konica Minolta Inc. | 111,200 | 424 | ||||
| GMO Payment Gateway Inc. | 8,100 | 420 | ||||
| Jeol Ltd. | 9,500 | 418 | ||||
| Hyakugo Bank Ltd. | 37,900 | 412 | ||||
| Keikyu Corp. | 41,000 | 411 | ||||
| Rengo Co. Ltd. | 41,200 | 411 | ||||
| Teijin Ltd. | 36,700 | 408 | ||||
| Sanki Engineering Co. Ltd. | 8,100 | 408 | ||||
| Hisamitsu Pharmaceutical Co. Inc. | 10,500 | 407 | ||||
| Kokuyo Co. Ltd. | 68,900 | 407 | ||||
| Shiga Bank Ltd. | 7,000 | 404 | ||||
| Sumitomo Bakelite Co. Ltd. | 10,300 | 396 | ||||
| Activia Properties Inc. | 411 | 393 | ||||
| Industrial & Infrastructure Fund Investment Corp. | 403 | 392 | ||||
| Mitsui Fudosan Logistics Park Inc. | 514 | 387 | ||||
| Oracle Corp. Japan | 6,400 | 386 | ||||
| Ezaki Glico Co. Ltd. | 9,900 | 385 | ||||
| Kaneka Corp. | 11,400 | 385 | ||||
| Morinaga Milk Industry Co. Ltd. | 12,100 | 385 | ||||
| Keihan Holdings Co. Ltd. | 17,100 | 379 | ||||
| Nippon Kayaku Co. Ltd. | 29,400 | 377 | ||||
| Rorze Corp. | 17,700 | 375 | ||||
| Juroku Financial Group Inc. | 5,700 | 375 | ||||
| Taikisha Ltd. | 14,900 | 374 | ||||
| Denka Co. Ltd. | 15,700 | 370 | ||||
| Mabuchi Motor Co. Ltd. | 31,400 | 370 | ||||
| Miura Co. Ltd. | 17,800 | 367 | ||||
| ARE Holdings Inc. | 12,600 | 367 | ||||
| Mizuho Leasing Co. Ltd. | 37,400 | 366 | ||||
| Canon Marketing Japan Inc. | 8,100 | 363 | ||||
| Nippon Shinyaku Co. Ltd. | 10,900 | 360 | ||||
| Kobayashi Pharmaceutical Co. Ltd. | 9,600 | 358 | ||||
| Dai-Dan Co. Ltd. | 15,300 | 358 | ||||
54
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Hanwa Co. Ltd. | 6,200 | 356 | ||||
| Zeon Corp. | 25,800 | 353 | ||||
| Resorttrust Inc. | 28,300 | 351 | ||||
| Harmonic Drive Systems Inc. | 12,100 | 351 | ||||
| Sundrug Co. Ltd. | 12,900 | 349 | ||||
| NTN Corp. | 128,700 | 348 | ||||
| Seino Holdings Co. Ltd. | 20,400 | 348 | ||||
| Tokuyama Corp. | 12,100 | 347 | ||||
| Meidensha Corp. | 6,900 | 344 | ||||
| Daihen Corp. | 3,700 | 344 | ||||
| San-In Godo Bank Ltd. | 30,400 | 344 | ||||
| Tokyo Kiraboshi Financial Group Inc. | 4,600 | 344 | ||||
| Keiyo Bank Ltd. | 23,700 | 341 | ||||
| Mitsubishi Motors Corp. | 124,000 | 340 | ||||
| Suruga Bank Ltd. | 25,000 | 339 | ||||
| Nihon Kohden Corp. | 30,200 | 337 | ||||
| Kadokawa Corp. | 18,044 | 335 | ||||
| Toagosei Co. Ltd. | 27,100 | 334 | ||||
| Senko Group Holdings Co. Ltd. | 26,300 | 332 | ||||
| Aozora Bank Ltd. | 18,300 | 331 | ||||
| Japan Logistics Fund Inc. | 496 | 329 | ||||
| Mitsui-Soko Holdings Co. Ltd. | 13,700 | 328 | ||||
| Park24 Co. Ltd. | 22,700 | 326 | ||||
| Hakuhodo DY Holdings Inc. | 43,200 | 324 | ||||
| NOK Corp. | 15,200 | 323 | ||||
| Internet Initiative Japan Inc. | 22,100 | 322 | ||||
| LaSalle Logiport REIT | 327 | 322 | ||||
| Tokai Tokyo Financial Holdings Inc. | 60,300 | 320 | ||||
| Tsumura & Co. | 11,900 | 320 | ||||
| Sinfonia Technology Co. Ltd. | 3,800 | 319 | ||||
| Mizuno Corp. | 12,200 | 317 | ||||
| Musashino Bank Ltd. | 7,600 | 317 | ||||
| SHO-BOND Holdings Co. Ltd. | 33,300 | 313 | ||||
| Koei Tecmo Holdings Co. Ltd. | 26,980 | 311 | ||||
| Aichi Financial Group Inc. | 7,363 | 311 | ||||
| Nippon Shokubai Co. Ltd. | 18,900 | 308 | ||||
| Ushio Inc. | 15,000 | 308 | ||||
| Ferrotec Corp. | 7,600 | 308 | ||||
| Tsubakimoto Chain Co. | 17,900 | 306 | ||||
| Daiwabo Holdings Co. Ltd. | 14,700 | 301 | ||||
| Kiyo Bank Ltd. | 11,000 | 301 | ||||
| Japan Securities Finance Co. Ltd. | 19,800 | 300 | ||||
| Oki Electric Industry Co. Ltd. | 14,500 | 299 | ||||
| Inaba Denki Sangyo Co. Ltd. | 16,200 | 298 | ||||
| Lintec Corp. | 8,500 | 297 | ||||
| Fuyo General Lease Co. Ltd. | 9,900 | 294 | ||||
| Amano Corp. | 11,100 | 291 | ||||
| Toho Holdings Co. Ltd. | 9,400 | 291 | ||||
| AEON REIT Investment Corp. | 333 | 291 | ||||
| Japan Elevator Service Holdings Co. Ltd. | 27,800 | 289 | ||||
| Hyakujushi Bank Ltd. | 4,600 | 287 | ||||
| Kagome Co. Ltd. | 15,400 | 286 | ||||
| MEITEC Group Holdings Inc. | 12,900 | 284 | ||||
| Ogaki Kyoritsu Bank Ltd. | 6,500 | 284 | ||||
| Takeuchi Manufacturing Co. Ltd. | 5,900 | 283 | ||||
| Nipro Corp. | 27,400 | 279 | ||||
| Max Co. Ltd. | 6,200 | 277 | ||||
| Tomy Co. Ltd. | 15,000 | 276 | ||||
| Makino Milling Machine Co. Ltd. | 3,700 | 275 | ||||
| Toho Bank Ltd. | 59,200 | 275 | ||||
| Goldwin Inc. | 17,400 | 274 | ||||
| Bank of Nagoya Ltd. | 7,200 | 273 | ||||
| Nisshinbo Holdings Inc. | 24,300 | 272 | ||||
| Sawai Group Holdings Co. Ltd. | 18,200 | 271 | ||||
| Toa Corp. | 10,000 | 270 | ||||
| AEON Financial Service Co. Ltd. | 23,800 | 269 | ||||
| Nanto Bank Ltd. | 5,500 | 269 | ||||
| OKUMA Corp. | 9,000 | 268 | ||||
| Inabata & Co. Ltd. | 9,600 | 268 | ||||
| Nihon M&A Center Holdings Inc. | 57,600 | 266 | ||||
55
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Ship Healthcare Holdings Inc. | 15,100 | 266 | ||||
| K's Holdings Corp. | 24,200 | 265 | ||||
| Umios Corp. | 26,100 | 265 | ||||
| Senshu Ikeda Holdings Inc. | 44,400 | 262 | ||||
| ABC-Mart Inc. | 15,500 | 261 | ||||
| Osaka Soda Co. Ltd. | 17,200 | 259 | ||||
| Blue Zones Holdings Co. Ltd. | 4,200 | 259 | ||||
| Toyota Boshoku Corp. | 12,600 | 258 | ||||
| Daiwa Securities Living Investments Corp. | 347 | 257 | ||||
| Calbee Inc. | 12,900 | 255 | ||||
| Nittetsu Mining Co. Ltd. | 9,500 | 254 | ||||
| Seven Bank Ltd. | 130,700 | 252 | ||||
| Comforia Residential REIT Inc. | 351 | 252 | ||||
| H2O Retailing Corp. | 16,000 | 251 | ||||
| OSG Corp. | 13,400 | 251 | ||||
| Nihon Parkerizing Co. Ltd. | 24,500 | 251 | ||||
| Takuma Co. Ltd. | 12,800 | 250 | ||||
| Sotetsu Holdings Inc. | 13,200 | 249 | ||||
| Yonex Co. Ltd. | 10,500 | 249 | ||||
| C Uyemura & Co. Ltd. | 1,800 | 249 | ||||
| Hulic REIT Inc. | 225 | 248 | ||||
| H.U. Group Holdings Inc. | 11,500 | 247 | ||||
| Okumura Corp. | 5,200 | 243 | ||||
| Pigeon Corp. | 21,900 | 242 | ||||
| Nojima Corp. | 32,400 | 242 | ||||
| House Foods Group Inc. | 12,200 | 241 | ||||
| Wacoal Holdings Corp. | 8,300 | 241 | ||||
| Acom Co. Ltd. | 73,200 | 240 | ||||
| Seria Co. Ltd. | 8,600 | 240 | ||||
| Kakaku.com Inc. | 21,600 | 238 | ||||
| Okasan Securities Group Inc. | 37,000 | 236 | ||||
| Nishi-Nippon Railroad Co. Ltd. | 11,300 | 235 | ||||
| Mori Hills REIT Investment Corp. | 249 | 234 | ||||
| Awa Bank Ltd. | 6,100 | 234 | ||||
| Mitsuboshi Belting Ltd. | 8,500 | 234 | ||||
| NSD Co. Ltd. | 12,800 | 234 | ||||
| Nishimatsu Construction Co. Ltd. | 5,325 | 234 | ||||
| Kusuri no Aoki Holdings Co. Ltd. | 9,000 | 234 | ||||
| Arisawa Manufacturing Co. Ltd. | 13,800 | 234 | ||||
| Frontier Real Estate Investment Corp. | 407 | 233 | ||||
| Kose Holdings Corp. | 5,800 | 231 | ||||
| Glory Ltd. | 8,600 | 229 | ||||
| Daiwa Office Investment Corp. | 98 | 229 | ||||
| CCI Group Inc. | 34,000 | 229 | ||||
| TS Tech Co. Ltd. | 17,700 | 228 | ||||
| DeNA Co. Ltd. | 13,300 | 226 | ||||
| Kotobuki Spirits Co. Ltd. | 17,700 | 225 | ||||
| Round One Corp. | 32,500 | 224 | ||||
| 1 | Asahi Diamond Industrial Co. Ltd. | 21,200 | 223 | |||
| Mori Trust REIT Inc. | 447 | 222 | ||||
| Chugoku Marine Paints Ltd. | 7,400 | 222 | ||||
| Towa Corp. | 11,600 | 222 | ||||
| Aica Kogyo Co. Ltd. | 8,700 | 221 | ||||
| Rigaku Holdings Corp. | 18,400 | 221 | ||||
| Relo Group Inc. | 17,800 | 220 | ||||
| GMO internet group Inc. | 11,400 | 219 | ||||
| Pacific Industrial Co. Ltd. | 11,400 | 219 | ||||
| Nippon Television Holdings Inc. | 10,000 | 218 | ||||
| Furuno Electric Co. Ltd. | 4,300 | 218 | ||||
| Sumitomo Warehouse Co. Ltd. | 8,400 | 218 | ||||
| 1 | Yoshinoya Holdings Co. Ltd. | 10,900 | 216 | |||
| Kureha Corp. | 6,900 | 216 | ||||
| Morinaga & Co. Ltd. | 11,600 | 215 | ||||
| JVCKenwood Corp. | 25,900 | 215 | ||||
| Joyful Honda Co. Ltd. | 15,200 | 215 | ||||
| NTT UD REIT Investment Corp. | 231 | 214 | ||||
| Duskin Co. Ltd. | 7,700 | 213 | ||||
| Tokyu Construction Co. Ltd. | 20,700 | 212 | ||||
| Fujimi Inc. | 10,000 | 211 | ||||
| DTS Corp. | 28,700 | 210 | ||||
56
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Toei Animation Co. Ltd. | 13,400 | 209 | ||||
| Nakanishi Inc. | 11,800 | 206 | ||||
| 1 | Toridoll Holdings Corp. | 7,500 | 205 | |||
| Mitsubishi Estate Logistics REIT Investment Corp. | 246 | 205 | ||||
| DCM Holdings Co. Ltd. | 18,700 | 204 | ||||
| Bic Camera Inc. | 17,500 | 203 | ||||
| OBIC Business Consultants Co. Ltd. | 5,000 | 202 | ||||
| TOMONY Holdings Inc. | 32,200 | 202 | ||||
| Nextage Co. Ltd. | 8,200 | 202 | ||||
| TBS Holdings Inc. | 5,300 | 201 | ||||
| Matsui Securities Co. Ltd. | 32,700 | 200 | ||||
| Miyazaki Bank Ltd. | 3,200 | 199 | ||||
| Nisshin Oillio Group Ltd. | 5,100 | 199 | ||||
| Katitas Co. Ltd. | 8,700 | 199 | ||||
| Nippon Soda Co. Ltd. | 7,400 | 198 | ||||
| Yodoko Ltd. | 21,500 | 198 | ||||
| * | Visional Inc. | 4,200 | 198 | |||
| Valor Holdings Co. Ltd. | 8,200 | 197 | ||||
| * | Sharp Corp. | 47,700 | 196 | |||
| Fuso Chemical Co. Ltd. | 3,200 | 196 | ||||
| Okamura Corp. | 11,200 | 196 | ||||
| Tadano Ltd. | 20,800 | 196 | ||||
| Okinawa Financial Group Inc. | 5,100 | 196 | ||||
| Asanuma Corp. | 26,600 | 196 | ||||
| Seiren Co. Ltd. | 8,400 | 195 | ||||
| Tsugami Corp. | 7,700 | 194 | ||||
| Workman Co. Ltd. | 3,900 | 194 | ||||
| KYB Corp. | 5,700 | 193 | ||||
| Nippn Corp. | 10,500 | 193 | ||||
| Aiful Corp. | 58,000 | 192 | ||||
| Fuji Oil Co. Ltd. | 7,500 | 192 | ||||
| Raito Kogyo Co. Ltd. | 6,900 | 192 | ||||
| Alconix Corp. | 9,100 | 192 | ||||
| Japan Excellent Inc. | 195 | 191 | ||||
| Kissei Pharmaceutical Co. Ltd. | 5,900 | 190 | ||||
| Morita Holdings Corp. | 9,700 | 186 | ||||
| Yushin Co. | 37,300 | 186 | ||||
| Ito En Ltd. | 9,500 | 185 | ||||
| Itoham Yonekyu Holdings Inc. | 4,480 | 185 | ||||
| Megmilk Snow Brand Co. Ltd. | 8,200 | 184 | ||||
| Kyoritsu Maintenance Co. Ltd. | 10,700 | 183 | ||||
| Toei Co. Ltd. | 5,300 | 183 | ||||
| Yamanashi Chuo Bank Ltd. | 5,200 | 183 | ||||
| Daiseki Co. Ltd. | 7,180 | 182 | ||||
| Gunze Ltd. | 6,000 | 182 | ||||
| Sangetsu Corp. | 8,500 | 182 | ||||
| Ain Holdings Inc. | 4,600 | 181 | ||||
| Nippon Light Metal Holdings Co. Ltd. | 9,090 | 181 | ||||
| EDION Corp. | 12,500 | 180 | ||||
| Exedy Corp. | 4,500 | 178 | ||||
| Kaga Electronics Co. Ltd. | 6,400 | 178 | ||||
| Starts Corp. Inc. | 5,200 | 178 | ||||
| Itoki Corp. | 7,700 | 177 | ||||
| Tocalo Co. Ltd. | 8,900 | 177 | ||||
| San ju San Financial Group Inc. | 4,400 | 177 | ||||
| Kaken Pharmaceutical Co. Ltd. | 6,200 | 176 | ||||
| Furukawa Co. Ltd. | 4,700 | 175 | ||||
| Pilot Corp. | 5,600 | 175 | ||||
| Kyosan Electric Manufacturing Co. Ltd. | 35,300 | 175 | ||||
| Wacom Co. Ltd. | 31,200 | 175 | ||||
| Tokai Rika Co. Ltd. | 8,000 | 172 | ||||
| Fuji Media Holdings Inc. | 7,500 | 172 | ||||
| Rakus Co. Ltd. | 30,800 | 172 | ||||
| JAFCO Group Co. Ltd. | 10,800 | 171 | ||||
| Zacros Corp. | 17,300 | 170 | ||||
| PAL GROUP Holdings Co. Ltd. | 16,200 | 170 | ||||
| Chiba Kogyo Bank Ltd. | 10,800 | 169 | ||||
| VT Holdings Co. Ltd. | 45,400 | 167 | ||||
| Daio Paper Corp. | 22,300 | 167 | ||||
| Japan Material Co. Ltd. | 12,000 | 167 | ||||
57
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Artience Co. Ltd. | 5,900 | 166 | ||||
| PALTAC Corp. | 5,100 | 165 | ||||
| Shikoku Kasei Holdings Corp. | 4,900 | 164 | ||||
| Japan Pulp & Paper Co. Ltd. | 22,100 | 163 | ||||
| * | SHIFT Inc. | 35,800 | 161 | |||
| * | Money Forward Inc. | 7,900 | 161 | |||
| Yamaichi Electronics Co. Ltd. | 3,000 | 161 | ||||
| Fukuda Denshi Co. Ltd. | 2,500 | 161 | ||||
| Musashi Seimitsu Industry Co. Ltd. | 8,000 | 160 | ||||
| Nichicon Corp. | 11,600 | 160 | ||||
| Oita Bank Ltd. | 2,500 | 160 | ||||
| Hogy Medical Co. Ltd. | 3,700 | 159 | ||||
| Heiwa Real Estate REIT Inc. | 159 | 159 | ||||
| * | PeptiDream Inc. | 17,200 | 158 | |||
| Ichigo Inc. | 55,600 | 158 | ||||
| Takara Standard Co. Ltd. | 8,100 | 158 | ||||
| Bando Chemical Industries Ltd. | 10,300 | 157 | ||||
| Kitz Corp. | 11,400 | 157 | ||||
| Nippon REIT Investment Corp. | 263 | 157 | ||||
| Okinawa Cellular Telephone Co. | 7,300 | 157 | ||||
| Chudenko Corp. | 4,700 | 155 | ||||
| Dentsu Soken Inc. | 12,300 | 155 | ||||
| Ehime Bank Ltd. | 12,800 | 155 | ||||
| Nippon Densetsu Kogyo Co. Ltd. | 4,600 | 155 | ||||
| MCJ Co. Ltd. | 10,600 | 155 | ||||
| Kurabo Industries Ltd. | 2,400 | 154 | ||||
| Monex Group Inc. | 31,900 | 153 | ||||
| Nippon Kanzai Holdings Co. Ltd. | 8,200 | 153 | ||||
| Aichi Steel Corp. | 6,800 | 152 | ||||
| Noritake Co. Ltd. | 3,400 | 152 | ||||
| YAMABIKO Corp. | 6,200 | 152 | ||||
| Nippon Paper Industries Co. Ltd. | 17,900 | 151 | ||||
| Sumitomo Osaka Cement Co. Ltd. | 5,100 | 151 | ||||
| Daikyonishikawa Corp. | 25,000 | 151 | ||||
| Daiei Kankyo Co. Ltd. | 6,100 | 151 | ||||
| TKC Corp. | 5,800 | 150 | ||||
| Yokogawa Bridge Holdings Corp. | 7,300 | 150 | ||||
| DKS Co. Ltd. | 1,900 | 150 | ||||
| Imperial Hotel Ltd. | 15,600 | 149 | ||||
| Marusan Securities Co. Ltd. | 20,700 | 148 | ||||
| Noritsu Koki Co. Ltd. | 10,200 | 148 | ||||
| Riken Keiki Co. Ltd. | 6,400 | 148 | ||||
| Simplex Holdings Inc. | 26,800 | 148 | ||||
| First Bank of Toyama Ltd. | 8,500 | 148 | ||||
| * | Hino Motors Ltd. | 50,200 | 147 | |||
| Hosiden Corp. | 7,800 | 147 | ||||
| Sanyo Denki Co. Ltd. | 4,500 | 147 | ||||
| JCU Corp. | 3,300 | 147 | ||||
| Megachips Corp. | 2,500 | 146 | ||||
| Onward Holdings Co. Ltd. | 27,900 | 146 | ||||
| Leopalace21 Corp. | 30,600 | 146 | ||||
| Systena Corp. | 51,300 | 145 | ||||
| Tamron Co. Ltd. | 21,600 | 145 | ||||
| Izumi Co. Ltd. | 21,600 | 144 | ||||
| * | Sanken Electric Co. Ltd. | 2,900 | 143 | |||
| Jaccs Co. Ltd. | 5,000 | 142 | ||||
| Nomura Co. Ltd. | 15,100 | 142 | ||||
| TOA Road Corp. | 11,400 | 142 | ||||
| Bank of Iwate Ltd. | 3,100 | 141 | ||||
| Maruzen Showa Unyu Co. Ltd. | 2,400 | 141 | ||||
| Prima Meat Packers Ltd. | 7,600 | 141 | ||||
| Union Tool Co. | 1,400 | 141 | ||||
| Funai Soken Holdings Inc. | 18,900 | 140 | ||||
| Eizo Corp. | 9,500 | 140 | ||||
| As One Corp. | 9,600 | 140 | ||||
| Totech Corp. | 4,800 | 140 | ||||
| Nippon Seiki Co. Ltd. | 7,600 | 139 | ||||
| Global One Real Estate Investment Corp. | 155 | 139 | ||||
| Seikitokyu Kogyo Co. Ltd. | 12,600 | 139 | ||||
| Santec Holdings Corp. | 1,100 | 139 | ||||
58
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Autobacs Seven Co. Ltd. | 11,900 | 136 | ||||
| Heiwa Real Estate Co. Ltd. | 8,400 | 136 | ||||
| Sakata Seed Corp. | 4,800 | 136 | ||||
| Ishihara Sangyo Kaisha Ltd. | 5,400 | 135 | ||||
| KOMEDA Holdings Co. Ltd. | 7,200 | 135 | ||||
| Nippon Parking Development Co. Ltd. | 73,100 | 134 | ||||
| Totetsu Kogyo Co. Ltd. | 3,600 | 134 | ||||
| Sun Frontier Fudousan Co. Ltd. | 7,400 | 134 | ||||
| Yellow Hat Ltd. | 11,800 | 133 | ||||
| Takasago International Corp. | 15,000 | 133 | ||||
| HI-LEX Corp. | 5,200 | 133 | ||||
| Toyobo Co. Ltd. | 11,200 | 132 | ||||
| Hokuetsu Corp. | 19,900 | 132 | ||||
| Furuya Metal Co. Ltd. | 2,700 | 132 | ||||
| Belluna Co. Ltd. | 20,700 | 131 | ||||
| Bunka Shutter Co. Ltd. | 9,510 | 131 | ||||
| MIRARTH Real Estate Investment Corp. | 229 | 131 | ||||
| 1 | Anycolor Inc. | 5,300 | 131 | |||
| Yondenko Corp. | 9,700 | 131 | ||||
| FP Corp. | 7,200 | 130 | ||||
| Financial Partners Group Co. Ltd. | 9,700 | 130 | ||||
| Matsuda Sangyo Co. Ltd. | 2,300 | 129 | ||||
| Mochida Pharmaceutical Co. Ltd. | 5,100 | 129 | ||||
| 1 | Ise Chemicals Corp. | 3,000 | 129 | |||
| Japan Aviation Electronics Industry Ltd. | 7,400 | 128 | ||||
| Justsystems Corp. | 5,100 | 128 | ||||
| FCC Co. Ltd. | 5,200 | 128 | ||||
| Yurtec Corp. | 6,200 | 128 | ||||
| Menicon Co. Ltd. | 10,500 | 128 | ||||
| Daiichikosho Co. Ltd. | 11,400 | 127 | ||||
| Future Corp. | 10,900 | 127 | ||||
| S&B Foods Inc. | 4,300 | 127 | ||||
| Aoyama Trading Co. Ltd. | 7,500 | 126 | ||||
| Maxell Ltd. | 8,600 | 126 | ||||
| SMS Co. Ltd. | 11,200 | 126 | ||||
| San-A Co. Ltd. | 6,300 | 125 | ||||
| Mani Inc. | 11,600 | 125 | ||||
| Japan Wool Textile Co. Ltd. | 9,300 | 125 | ||||
| Kurimoto Ltd. | 11,000 | 125 | ||||
| Yamazen Corp. | 12,700 | 125 | ||||
| ZERIA Pharmaceutical Co. Ltd. | 8,600 | 124 | ||||
| 1 | Key Coffee Inc. | 9,600 | 124 | |||
| Mitsubishi Pencil Co. Ltd. | 7,900 | 124 | ||||
| Mitsui High-Tec Inc. | 22,100 | 124 | ||||
| Wellneo Sugar Co. Ltd. | 6,400 | 124 | ||||
| GungHo Online Entertainment Inc. | 7,500 | 123 | ||||
| Pola Orbis Holdings Inc. | 13,900 | 123 | ||||
| Riso Kyoiku Group Corp. | 95,300 | 123 | ||||
| Heiwado Co. Ltd. | 6,400 | 123 | ||||
| Mirai Corp. | 380 | 123 | ||||
| JMDC Inc. | 4,600 | 123 | ||||
| NPR-RIKEN Corp. | 4,200 | 123 | ||||
| Matsuya Co. Ltd. | 7,400 | 122 | ||||
| Asahi Kogyosha Co. Ltd. | 4,000 | 122 | ||||
| Ariake Japan Co. Ltd. | 3,100 | 121 | ||||
| Hibiya Engineering Ltd. | 2,900 | 121 | ||||
| Topre Corp. | 6,300 | 121 | ||||
| Tosei Corp. | 11,400 | 120 | ||||
| Sakata INX Corp. | 7,000 | 120 | ||||
| Ryoyo Ryosan Holdings Inc. | 5,424 | 120 | ||||
| Kasumigaseki Capital Co. Ltd. | 2,400 | 120 | ||||
| Fujibo Holdings Inc. | 1,700 | 119 | ||||
| Tochigi Bank Ltd. | 18,400 | 119 | ||||
| Towa Pharmaceutical Co. Ltd. | 4,200 | 119 | ||||
| Tri Chemical Laboratories Inc. | 4,900 | 119 | ||||
| U-Next Holdings Co. Ltd. | 10,000 | 119 | ||||
| Fuji Seal International Inc. | 6,400 | 118 | ||||
| Mandom Corp. | 5,700 | 118 | ||||
| FIDEA Holdings Co. Ltd. | 8,400 | 118 | ||||
| JDC Corp. | 26,400 | 118 | ||||
59
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Denyo Co. Ltd. | 4,700 | 117 | ||||
| Tokushu Tokai Paper Co. Ltd. | 10,800 | 117 | ||||
| Open Up Group Inc. | 9,500 | 117 | ||||
| Elecom Co. Ltd. | 10,100 | 116 | ||||
| Trusco Nakayama Corp. | 7,200 | 116 | ||||
| Nippon Carbon Co. Ltd. | 3,600 | 116 | ||||
| TPR Co. Ltd. | 12,700 | 114 | ||||
| Fujita Kanko Inc. | 7,500 | 113 | ||||
| Shikoku Bank Ltd. | 7,200 | 113 | ||||
| 1 | Shochiku Co. Ltd. | 1,600 | 113 | |||
| Tamura Corp. | 24,100 | 112 | ||||
| MOS Food Services Inc. | 4,000 | 110 | ||||
| Nitto Kogyo Corp. | 3,500 | 109 | ||||
| Raksul Inc. | 8,900 | 109 | ||||
| Optex Group Co. Ltd. | 5,300 | 108 | ||||
| Seikagaku Corp. | 21,500 | 108 | ||||
| Ai Holdings Corp. | 5,800 | 108 | ||||
| Konoike Transport Co. Ltd. | 4,800 | 107 | ||||
| Optorun Co. Ltd. | 4,900 | 106 | ||||
| Bank of the Ryukyus Ltd. | 6,700 | 105 | ||||
| Kyokuto Kaihatsu Kogyo Co. Ltd. | 4,700 | 105 | ||||
| Tachi-S Co. Ltd. | 7,000 | 105 | ||||
| Tsukishima Holdings Co. Ltd. | 4,700 | 105 | ||||
| Unipres Corp. | 11,100 | 105 | ||||
| * | Sansan Inc. | 14,000 | 105 | |||
| Kumiai Chemical Industry Co. Ltd. | 22,200 | 104 | ||||
| Sinko Industries Ltd. | 11,400 | 104 | ||||
| Kyorin Pharmaceutical Co. Ltd. | 9,400 | 104 | ||||
| KH Neochem Co. Ltd. | 5,200 | 104 | ||||
| Belc Co. Ltd. | 2,000 | 103 | ||||
| BML Inc. | 3,700 | 103 | ||||
| Galilei Co. Ltd. | 4,100 | 103 | ||||
| 1 | OSAKA Titanium Technologies Co. Ltd. | 5,200 | 103 | |||
| JSP Corp. | 5,500 | 103 | ||||
| Uchida Yoko Co. Ltd. | 7,500 | 103 | ||||
| Happinet Corp. | 5,000 | 102 | ||||
| Sanyo Electric Railway Co. Ltd. | 7,600 | 102 | ||||
| Nohmi Bosai Ltd. | 3,500 | 101 | ||||
| Press Kogyo Co. Ltd. | 15,700 | 101 | ||||
| Hankyu Hanshin REIT Inc. | 99 | 101 | ||||
| Enplas Corp. | 1,100 | 100 | ||||
| Shibaura Machine Co. Ltd. | 3,400 | 100 | ||||
| Hamakyorex Co. Ltd. | 7,900 | 99 | ||||
| Hochiki Corp. | 2,400 | 99 | ||||
| Nissan Shatai Co. Ltd. | 14,000 | 99 | ||||
| Anicom Holdings Inc. | 12,500 | 99 | ||||
| Fuji Kyuko Co. Ltd. | 6,400 | 98 | ||||
| MEC Co. Ltd. | 2,200 | 98 | ||||
| ARCLANDS Corp. | 7,700 | 97 | ||||
| Eiken Chemical Co. Ltd. | 4,800 | 97 | ||||
| Life Corp. | 5,600 | 97 | ||||
| Daiichi Jitsugyo Co. Ltd. | 4,200 | 96 | ||||
| Axial Retailing Inc. | 11,500 | 96 | ||||
| Sintokogio Ltd. | 12,400 | 96 | ||||
| Showa Sangyo Co. Ltd. | 4,381 | 96 | ||||
| Token Corp. | 1,000 | 96 | ||||
| Fukui Bank Ltd. | 4,200 | 95 | ||||
| Nichiha Corp. | 4,000 | 95 | ||||
| Toho Titanium Co. Ltd. | 5,300 | 95 | ||||
| Toenec Corp. | 6,200 | 95 | ||||
| UT Group Co. Ltd. | 68,800 | 95 | ||||
| Komeri Co. Ltd. | 4,000 | 94 | ||||
| Sekisui Jushi Corp. | 5,900 | 94 | ||||
| Tekken Corp. | 2,900 | 94 | ||||
| Yamagata Bank Ltd. | 5,400 | 94 | ||||
| SRA Holdings | 2,900 | 94 | ||||
| IDOM Inc. | 9,400 | 93 | ||||
| Central Glass Co. Ltd. | 3,300 | 93 | ||||
| 1 | Yondoshi Holdings Inc. | 7,900 | 93 | |||
| Yokorei Co. Ltd. | 10,200 | 93 | ||||
60
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| CRE Logistics REIT Inc. | 88 | 93 | ||||
| Procrea Holdings Inc. | 4,900 | 93 | ||||
| Kameda Seika Co. Ltd. | 3,300 | 92 | ||||
| Towa Bank Ltd. | 11,700 | 92 | ||||
| Transcosmos Inc. | 3,500 | 92 | ||||
| Wakita & Co. Ltd. | 7,000 | 92 | ||||
| Kyokuyo Co. Ltd. | 2,600 | 91 | ||||
| Shibuya Corp. | 3,800 | 91 | ||||
| Infomart Corp. | 35,200 | 91 | ||||
| KPP Group Holdings Co. Ltd. | 15,200 | 91 | ||||
| Aisan Industry Co. Ltd. | 6,100 | 90 | ||||
| Argo Graphics Inc. | 8,800 | 90 | ||||
| T Hasegawa Co. Ltd. | 4,800 | 90 | ||||
| JBCC Holdings Inc. | 10,400 | 90 | ||||
| Arata Corp. | 4,500 | 89 | ||||
| Ryobi Ltd. | 4,600 | 89 | ||||
| Yahagi Construction Co. Ltd. | 5,500 | 89 | ||||
| World Co. Ltd. | 8,400 | 89 | ||||
| Ichigo Office REIT Investment Corp. | 140 | 89 | ||||
| Oriental Shiraishi Corp. | 32,000 | 89 | ||||
| Tsurumi Manufacturing Co. Ltd. | 6,200 | 88 | ||||
| KAWADA TECHNOLOGIES Inc. | 2,500 | 88 | ||||
| 1 | Toyo Gosei Co. Ltd. | 1,200 | 88 | |||
| ES-Con Japan Ltd. | 11,800 | 87 | ||||
| and ST HD Co. Ltd. | 4,500 | 86 | ||||
| Ricoh Leasing Co. Ltd. | 2,100 | 86 | ||||
| CMK Corp. | 21,200 | 85 | ||||
| Mirarth Holdings Inc. | 31,200 | 85 | ||||
| Osaka Organic Chemical Industry Ltd. | 2,800 | 85 | ||||
| Aida Engineering Ltd. | 11,000 | 84 | ||||
| Nippon Signal Co. Ltd. | 7,300 | 84 | ||||
| Doutor Nichires Holdings Co. Ltd. | 4,400 | 84 | ||||
| Japan Transcity Corp. | 9,500 | 83 | ||||
| Yuasa Trading Co. Ltd. | 2,000 | 83 | ||||
| METAWATER Co. Ltd. | 3,100 | 83 | ||||
| SOSiLA Logistics REIT Inc. | 100 | 83 | ||||
| Idec Corp. | 3,900 | 82 | ||||
| Toshiba TEC Corp. | 3,900 | 82 | ||||
| Hirata Corp. | 4,200 | 82 | ||||
| Senshu Electric Co. Ltd. | 2,000 | 82 | ||||
| Konishi Co. Ltd. | 9,100 | 81 | ||||
| Koa Corp. | 6,400 | 81 | ||||
| Milbon Co. Ltd. | 4,500 | 81 | ||||
| Okabe Co. Ltd. | 12,200 | 81 | ||||
| Koshidaka Holdings Co. Ltd. | 10,800 | 81 | ||||
| Create SD Holdings Co. Ltd. | 3,700 | 81 | ||||
| Genky DrugStores Co. Ltd. | 2,800 | 81 | ||||
| A&D HOLON Holdings Co. Ltd. | 4,500 | 81 | ||||
| Cosel Co. Ltd. | 9,200 | 80 | ||||
| Kanto Denka Kogyo Co. Ltd. | 7,100 | 80 | ||||
| Komori Corp. | 6,900 | 80 | ||||
| Kohnan Shoji Co. Ltd. | 2,900 | 80 | ||||
| Nishio Holdings Co. Ltd. | 2,700 | 80 | ||||
| Shinnihon Corp. | 5,700 | 80 | ||||
| Toyo Corp. | 6,600 | 80 | ||||
| TechMatrix Corp. | 6,500 | 80 | ||||
| CTI Engineering Co. Ltd. | 3,600 | 80 | ||||
| Akita Bank Ltd. | 2,200 | 79 | ||||
| Japan Lifeline Co. Ltd. | 7,700 | 79 | ||||
| Oiles Corp. | 4,600 | 79 | ||||
| Softcreate Holdings Corp. | 6,000 | 79 | ||||
| Ichikoh Industries Ltd. | 21,500 | 78 | ||||
| JINS Holdings Inc. | 2,300 | 78 | ||||
| Japan Investment Adviser Co. Ltd. | 5,900 | 78 | ||||
| Canon Electronics Inc. | 3,300 | 77 | ||||
| Cresco Ltd. | 7,800 | 77 | ||||
| Nippon Denko Co. Ltd. | 25,200 | 76 | ||||
| TRE Holdings Corp. | 6,600 | 76 | ||||
| Murakami Corp. | 1,800 | 76 | ||||
| Ichiyoshi Securities Co. Ltd. | 7,700 | 75 | ||||
61
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Shibusawa Logistics Corp. | 8,300 | 75 | ||||
| 1 | Sakura Internet Inc. | 3,900 | 75 | |||
| Hioki EE Corp. | 1,500 | 74 | ||||
| Okamoto Industries Inc. | 1,900 | 74 | ||||
| ESPEC Corp. | 3,000 | 74 | ||||
| Yokowo Co. Ltd. | 3,500 | 74 | ||||
| Zuken Inc. | 2,500 | 74 | ||||
| Strike Co. Ltd. | 2,500 | 74 | ||||
| Krosaki Harima Corp. | 2,700 | 73 | ||||
| Tomoku Co. Ltd. | 3,100 | 73 | ||||
| Torishima Pump Manufacturing Co. Ltd. | 4,300 | 73 | ||||
| TSI Holdings Co. Ltd. | 9,900 | 73 | ||||
| One REIT Inc. | 126 | 73 | ||||
| Gecoss Corp. | 5,800 | 72 | ||||
| Topy Industries Ltd. | 3,100 | 72 | ||||
| 1 | euglena Co. Ltd. | 28,700 | 72 | |||
| Ki-Star Real Estate Co. Ltd. | 1,400 | 72 | ||||
| Premium Group Co. Ltd. | 6,100 | 72 | ||||
| Central Sports Co. Ltd. | 4,500 | 71 | ||||
| Nissei ASB Machine Co. Ltd. | 1,200 | 71 | ||||
| Shin-Etsu Polymer Co. Ltd. | 5,000 | 71 | ||||
| Starzen Co. Ltd. | 8,100 | 71 | ||||
| ASKUL Corp. | 8,400 | 70 | ||||
| HIS Co. Ltd. | 8,500 | 70 | ||||
| Sodick Co. Ltd. | 7,200 | 70 | ||||
| Septeni Holdings Co. Ltd. | 26,100 | 70 | ||||
| Futaba Industrial Co. Ltd. | 9,200 | 69 | ||||
| Noritz Corp. | 4,400 | 69 | ||||
| Noevir Holdings Co. Ltd. | 2,300 | 69 | ||||
| 1 | Ichibanya Co. Ltd. | 11,700 | 68 | |||
| Digital Garage Inc. | 5,000 | 68 | ||||
| SBS Holdings Inc. | 2,500 | 68 | ||||
| Earth Corp. | 2,100 | 68 | ||||
| Ebase Co. Ltd. | 24,400 | 68 | ||||
| Tosei REIT Investment Corp. | 71 | 68 | ||||
| United Arrows Ltd. | 3,900 | 67 | ||||
| Prestige International Inc. | 14,800 | 67 | ||||
| Nitta Corp. | 2,200 | 67 | ||||
| 1 | dip Corp. | 5,200 | 67 | |||
| JAC Recruitment Co. Ltd. | 11,700 | 67 | ||||
| * | Appier Group Inc. | 12,700 | 67 | |||
| Advan Group Co. Ltd. | 10,200 | 66 | ||||
| Tokyo Electron Device Ltd. | 2,800 | 66 | ||||
| Feed One Co. Ltd. | 7,780 | 66 | ||||
| Digital Arts Inc. | 1,800 | 65 | ||||
| Nachi-Fujikoshi Corp. | 1,900 | 65 | ||||
| Nippon Sharyo Ltd. | 2,400 | 65 | ||||
| Tachibana Eletech Co. Ltd. | 3,000 | 65 | ||||
| Tanseisha Co. Ltd. | 6,300 | 65 | ||||
| Nagawa Co. Ltd. | 1,600 | 64 | ||||
| CAC Holdings Corp. | 5,100 | 63 | ||||
| Daido Metal Co. Ltd. | 8,000 | 63 | ||||
| Riken Technos Corp. | 5,300 | 63 | ||||
| eGuarantee Inc. | 5,700 | 63 | ||||
| Plus Alpha Consulting Co. Ltd. | 4,400 | 63 | ||||
| Takamatsu Construction Group Co. Ltd. | 2,300 | 62 | ||||
| Dai Nippon Toryo Co. Ltd. | 6,500 | 62 | ||||
| Godo Steel Ltd. | 2,400 | 62 | ||||
| Kanaden Corp. | 4,100 | 62 | ||||
| Riken Vitamin Co. Ltd. | 3,100 | 62 | ||||
| Toa Corp. (XTKS) | 5,300 | 62 | ||||
| Restar Corp. | 3,100 | 62 | ||||
| Curves Holdings Co. Ltd. | 11,900 | 62 | ||||
| TV Asahi Holdings Corp. | 2,800 | 61 | ||||
| Arakawa Chemical Industries Ltd. | 6,100 | 61 | ||||
| Iriso Electronics Co. Ltd. | 2,500 | 61 | ||||
| Riso Kagaku Corp. | 7,400 | 61 | ||||
| Sanyo Chemical Industries Ltd. | 1,600 | 61 | ||||
| Zojirushi Corp. | 5,800 | 61 | ||||
| Mie Kotsu Group Holdings Inc. | 15,700 | 61 | ||||
62
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 1 | Tama Home Co. Ltd. | 2,400 | 61 | |||
| Weathernews Inc. | 4,400 | 60 | ||||
| Takaoka Toko Co. Ltd. | 1,600 | 60 | ||||
| J Trust Co. Ltd. | 17,000 | 59 | ||||
| Siix Corp. | 6,500 | 59 | ||||
| Cleanup Corp. | 8,600 | 59 | ||||
| Cybozu Inc. | 4,100 | 59 | ||||
| Fuji Co. Ltd. | 4,400 | 59 | ||||
| Studio Alice Co. Ltd. | 4,600 | 59 | ||||
| Pacific Metals Co. Ltd. | 2,400 | 59 | ||||
| Asahi Yukizai Corp. | 1,800 | 58 | ||||
| 1 | Ministop Co. Ltd. | 4,800 | 58 | |||
| Mitsubishi Logisnext Co. Ltd. | 5,900 | 58 | ||||
| Nippon Ceramic Co. Ltd. | 2,300 | 58 | ||||
| Hoosiers Holdings Co. Ltd. | 6,800 | 58 | ||||
| Amuse Inc. | 4,200 | 57 | ||||
| 1 | Mitsuba Corp. | 6,100 | 57 | |||
| Takara Bio Inc. | 7,600 | 56 | ||||
| Chuo Spring Co. Ltd. | 2,600 | 56 | ||||
| Hokkan Holdings Ltd. | 3,500 | 56 | ||||
| AZ-COM MARUWA Holdings Inc. | 8,800 | 56 | ||||
| Nichireki Group Co. Ltd. | 3,600 | 56 | ||||
| Teikoku Electric Manufacturing Co. Ltd. | 2,500 | 55 | ||||
| Dainichiseika Color & Chemicals Manufacturing Co. Ltd. | 1,700 | 55 | ||||
| Nihon Tokushu Toryo Co. Ltd. | 3,400 | 55 | ||||
| Nippon Thompson Co. Ltd. | 8,000 | 55 | ||||
| Tokai Corp. | 3,300 | 55 | ||||
| JCR Pharmaceuticals Co. Ltd. | 12,100 | 54 | ||||
| * | Nippon Sheet Glass Co. Ltd. | 14,000 | 54 | |||
| Okura Industrial Co. Ltd. | 1,600 | 54 | ||||
| Teikoku Sen-I Co. Ltd. | 2,800 | 54 | ||||
| Sakai Chemical Industry Co. Ltd. | 2,000 | 53 | ||||
| Sato Corp. | 3,300 | 53 | ||||
| Vital KSK Holdings Inc. | 5,600 | 53 | ||||
| RS Technologies Co. Ltd. | 2,000 | 53 | ||||
| Vision Inc. | 6,300 | 53 | ||||
| Orient Corp. | 7,100 | 52 | ||||
| Anest Iwata Corp. | 4,600 | 52 | ||||
| Sakai Moving Service Co. Ltd. | 2,800 | 52 | ||||
| Broadleaf Co. Ltd. | 11,200 | 52 | ||||
| SIGMAXYZ Holdings Inc. | 11,100 | 52 | ||||
| PHC Holdings Corp. | 7,400 | 52 | ||||
| Fudo Tetra Corp. | 2,000 | 51 | ||||
| Kyodo Printing Co. Ltd. | 4,500 | 51 | ||||
| Kintetsu Department Store Co. Ltd. | 4,400 | 51 | ||||
| Pasona Group Inc. | 3,900 | 51 | ||||
| AOKI Holdings Inc. | 4,300 | 50 | ||||
| Computer Engineering & Consulting Ltd. | 3,900 | 50 | ||||
| 1 | Shoei Foods Corp. | 1,900 | 50 | |||
| Solasto Corp. | 8,200 | 50 | ||||
| Bell System24 Holdings Inc. | 5,300 | 50 | ||||
| I'll Inc. | 3,300 | 50 | ||||
| Aeon Hokkaido Corp. | 8,600 | 50 | ||||
| * | Medley Inc. | 3,900 | 50 | |||
| Daiwa Industries Ltd. | 4,000 | 49 | ||||
| G-Tekt Corp. | 3,700 | 49 | ||||
| Pack Corp. | 5,700 | 49 | ||||
| Nippon Rietec Co. Ltd. | 2,400 | 49 | ||||
| WingArc1st Inc. | 2,800 | 49 | ||||
| Chofu Seisakusho Co. Ltd. | 3,500 | 48 | ||||
| Daiho Corp. | 8,300 | 48 | ||||
| V Technology Co. Ltd. | 1,600 | 48 | ||||
| Katakura Industries Co. Ltd. | 2,400 | 48 | ||||
| Miroku Jyoho Service Co. Ltd. | 4,200 | 48 | ||||
| Nichiden Corp. | 2,900 | 48 | ||||
| Nissha Co. Ltd. | 5,500 | 48 | ||||
| TOC Co. Ltd. | 8,200 | 48 | ||||
| Shofu Inc. | 4,000 | 48 | ||||
| FULLCAST Holdings Co. Ltd. | 4,300 | 47 | ||||
| Kanagawa Chuo Kotsu Co. Ltd. | 2,000 | 47 | ||||
63
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Halows Co. Ltd. | 1,500 | 47 | ||||
| JP-Holdings Inc. | 9,400 | 47 | ||||
| Nagaileben Co. Ltd. | 4,000 | 47 | ||||
| Onoken Co. Ltd. | 4,900 | 47 | ||||
| KeePer Technical Laboratory Co. Ltd. | 2,000 | 47 | ||||
| Chubu Shiryo Co. Ltd. | 3,600 | 46 | ||||
| Daikokutenbussan Co. Ltd. | 1,300 | 46 | ||||
| Kyoei Steel Ltd. | 2,700 | 46 | ||||
| ASKA Pharmaceutical Holdings Co. Ltd. | 2,900 | 46 | ||||
| Roland Corp. | 1,800 | 46 | ||||
| Daiki Aluminium Industry Co. Ltd. | 4,800 | 46 | ||||
| Goldcrest Co. Ltd. | 2,100 | 45 | ||||
| Chori Co. Ltd. | 1,500 | 45 | ||||
| Shima Seiki Manufacturing Ltd. | 6,600 | 45 | ||||
| Mitsubishi Research Institute Inc. | 1,400 | 45 | ||||
| m-up Holdings Inc. | 10,400 | 45 | ||||
| Aiphone Co. Ltd. | 2,300 | 44 | ||||
| Corona Corp. Class A | 6,200 | 44 | ||||
| Fujicco Co. Ltd. | 4,200 | 44 | ||||
| Ines Corp. | 3,200 | 44 | ||||
| Joshin Denki Co. Ltd. | 2,400 | 44 | ||||
| Shimojima Co. Ltd. | 4,600 | 44 | ||||
| Warabeya Nichiyo Holdings Co. Ltd. | 2,000 | 44 | ||||
| Mitsui DM Sugar Co. Ltd. | 1,900 | 43 | ||||
| ST Corp. | 4,300 | 43 | ||||
| 1 | Change Holdings Inc. | 6,700 | 43 | |||
| GMO Financial Holdings Inc. | 7,000 | 43 | ||||
| Airman Corp. | 3,000 | 43 | ||||
| GLOBERIDE Inc. | 2,800 | 42 | ||||
| Fujiya Co. Ltd. | 2,600 | 42 | ||||
| Yorozu Corp. | 5,900 | 42 | ||||
| LIFULL Co. Ltd. | 30,600 | 42 | ||||
| Vector Inc. | 4,500 | 42 | ||||
| * | RENOVA Inc. | 8,900 | 42 | |||
| 1 | Fixstars Corp. | 4,200 | 42 | |||
| Sparx Group Co. Ltd. | 3,100 | 42 | ||||
| Altech Corp. | 2,500 | 42 | ||||
| 1 | Kosaido Holdings Co. Ltd. | 13,400 | 42 | |||
| Mirai Industry Co. Ltd. | 1,900 | 42 | ||||
| Miyaji Engineering Group Inc. | 3,400 | 42 | ||||
| Retail Partners Co. Ltd. | 4,700 | 41 | ||||
| * | Nippon Chemi-Con Corp. | 3,400 | 41 | |||
| Nippon Beet Sugar Manufacturing Co. Ltd. | 1,400 | 41 | ||||
| Chubu Steel Plate Co. Ltd. | 2,700 | 41 | ||||
| Cawachi Ltd. | 1,900 | 40 | ||||
| Geo Holdings Corp. | 3,500 | 40 | ||||
| DyDo Group Holdings Inc. | 2,400 | 40 | ||||
| Hakuto Co. Ltd. | 1,400 | 40 | ||||
| * | KNT-CT Holdings Co. Ltd. | 3,600 | 40 | |||
| J-Oil Mills Inc. | 3,000 | 40 | ||||
| 1 | Osaka Steel Co. Ltd. | 2,400 | 40 | |||
| Qol Holdings Co. Ltd. | 3,200 | 40 | ||||
| Insource Co. Ltd. | 8,600 | 40 | ||||
| Shinagawa Refra Co. Ltd. | 2,500 | 40 | ||||
| Pronexus Inc. | 5,100 | 39 | ||||
| Chiyoda Integre Co. Ltd. | 1,800 | 39 | ||||
| Obara Group Inc. | 1,000 | 38 | ||||
| Gakken Holdings Co. Ltd. | 5,600 | 38 | ||||
| 1 | Giken Ltd. | 2,400 | 38 | |||
| Intage Holdings Inc. | 3,500 | 38 | ||||
| Piolax Inc. | 3,300 | 38 | ||||
| Komatsu Matere Co. Ltd. | 6,400 | 38 | ||||
| Sumida Corp. | 4,800 | 38 | ||||
| St. Marc Holdings Co. Ltd. | 1,900 | 38 | ||||
| Artnature Inc. | 7,300 | 38 | ||||
| UNISOL Holdings Corp. | 2,500 | 38 | ||||
| West Holdings Corp. | 3,400 | 38 | ||||
| Tohokushinsha Film Corp. | 9,100 | 38 | ||||
| Avex Inc. | 4,800 | 37 | ||||
| 1 | Rock Field Co. Ltd. | 4,100 | 37 | |||
64
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Sumitomo Seika Chemicals Co. Ltd. | 800 | 37 | ||||
| Sankyo Tateyama Inc. | 8,000 | 37 | ||||
| Health Care & Medical Investment Corp. | 45 | 37 | ||||
| Nihon Nohyaku Co. Ltd. | 5,200 | 36 | ||||
| Kojima Co. Ltd. | 4,200 | 36 | ||||
| Koatsu Gas Kogyo Co. Ltd. | 4,900 | 36 | ||||
| 1 | Shin Nippon Biomedical Laboratories Ltd. | 3,300 | 36 | |||
| WATAMI Co. Ltd. | 5,700 | 36 | ||||
| Nittoku Co. Ltd. | 2,100 | 36 | ||||
| Oisix ra daichi Inc. | 3,900 | 36 | ||||
| Base Co. Ltd. | 1,700 | 36 | ||||
| Nippon Fine Chemical Co. Ltd. | 2,000 | 36 | ||||
| Shinwa Co. Ltd. | 1,600 | 35 | ||||
| Fukuda Corp. | 700 | 35 | ||||
| 1 | eRex Co. Ltd. | 7,500 | 35 | |||
| Futaba Corp. | 7,000 | 34 | ||||
| Istyle Inc. | 10,800 | 34 | ||||
| JSB Co. Ltd. | 1,500 | 34 | ||||
| Nisso Holdings Co. Ltd. | 7,600 | 34 | ||||
| Aizawa Securities Group Co. Ltd. | 3,400 | 34 | ||||
| TDC Soft Inc. | 4,800 | 34 | ||||
| Nichiban Co. Ltd. | 2,600 | 33 | ||||
| Ryoden Corp. | 1,400 | 33 | ||||
| Daito Pharmaceutical Co. Ltd. | 3,540 | 33 | ||||
| Yamashin-Filter Corp. | 8,800 | 33 | ||||
| EM Systems Co. Ltd. | 7,300 | 33 | ||||
| LITALICO Inc. | 3,800 | 33 | ||||
| * | Net Protections Holdings Inc. | 9,600 | 33 | |||
| Software Service Inc. | 400 | 33 | ||||
| France Bed Holdings Co. Ltd. | 3,600 | 32 | ||||
| Zenrin Co. Ltd. | 4,800 | 32 | ||||
| 1 | Inui Global Logistics Co. Ltd. | 3,000 | 32 | |||
| en Inc. | 3,900 | 31 | ||||
| Digital Holdings Inc. | 2,400 | 31 | ||||
| Kenko Mayonnaise Co. Ltd. | 2,000 | 30 | ||||
| 1 | Nafco Co. Ltd. | 2,000 | 30 | |||
| Iwaki Co. Ltd. | 1,600 | 30 | ||||
| Fuji Pharma Co. Ltd. | 1,900 | 29 | ||||
| Fukui Computer Holdings Inc. | 1,300 | 29 | ||||
| Tayca Corp. | 2,500 | 29 | ||||
| Midac Holdings Co. Ltd. | 2,200 | 29 | ||||
| Avant Group Corp. | 3,200 | 29 | ||||
| Hodogaya Chemical Co. Ltd. | 1,800 | 28 | ||||
| Rheon Automatic Machinery Co. Ltd. | 2,700 | 28 | ||||
| NEC Capital Solutions Ltd. | 1,000 | 28 | ||||
| S-Pool Inc. | 16,700 | 28 | ||||
| Akatsuki Inc. | 1,400 | 28 | ||||
| FP Partner Inc. | 1,800 | 28 | ||||
| Shindengen Electric Manufacturing Co. Ltd. | 1,000 | 27 | ||||
| Link & Motivation Inc. | 7,600 | 27 | ||||
| GREE Holdings Inc. | 10,500 | 27 | ||||
| COLOPL Inc. | 9,500 | 27 | ||||
| ZIGExN Co. Ltd. | 9,400 | 27 | ||||
| Iseki & Co. Ltd. | 1,900 | 26 | ||||
| Neturen Co. Ltd. | 2,700 | 26 | ||||
| *,1 | Remixpoint Inc. | 17,900 | 26 | |||
| Tv Tokyo Holdings Corp. | 900 | 26 | ||||
| Yukiguni Factory Co. Ltd. | 3,700 | 26 | ||||
| Tess Holdings Co. Ltd. | 6,600 | 26 | ||||
| Aichi Corp. | 2,700 | 25 | ||||
| Shinko Shoji Co. Ltd. | 3,600 | 25 | ||||
| Taki Chemical Co. Ltd. | 1,000 | 25 | ||||
| *,1 | Japan Display Inc. | 140,100 | 25 | |||
| Elan Corp. | 4,800 | 24 | ||||
| Xebio Holdings Co. Ltd. | 3,200 | 23 | ||||
| YAKUODO Holdings Co. Ltd. | 1,700 | 23 | ||||
| Central Security Patrols Co. Ltd. | 1,100 | 22 | ||||
| 1 | Aeon Fantasy Co. Ltd. | 1,300 | 22 | |||
| Moriroku Co. Ltd. | 1,300 | 22 | ||||
| giftee Inc. | 3,300 | 22 | ||||
65
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Quants Research Institute Holdings Inc. | 4,500 | 22 | ||||
| Chiyoda Co. Ltd. | 3,000 | 21 | ||||
| 1 | Kitanotatsujin Corp. | 22,900 | 20 | |||
| Amvis Holdings Inc. | 6,100 | 20 | ||||
| Maezawa Kyuso Industries Co. Ltd. | 1,700 | 19 | ||||
| Sanoh Industrial Co. Ltd. | 3,300 | 19 | ||||
| Maxvalu Tokai Co. Ltd. | 800 | 19 | ||||
| Airport Facilities Co. Ltd. | 2,700 | 18 | ||||
| MTI Ltd. | 4,000 | 18 | ||||
| Marvelous Inc. | 5,500 | 18 | ||||
| G-7 Holdings Inc. | 1,900 | 18 | ||||
| Oro Co. Ltd. | 1,400 | 18 | ||||
| Shinsho Corp. | 1,000 | 18 | ||||
| Nakayama Steel Works Ltd. | 4,300 | 17 | ||||
| Tsutsumi Jewelry Co. Ltd. | 800 | 17 | ||||
| Asahi Co. Ltd. | 2,000 | 17 | ||||
| Nitto Kohki Co. Ltd. | 1,300 | 16 | ||||
| Okuwa Co. Ltd. | 2,700 | 15 | ||||
| Sanshin Electronics Co. Ltd. | 700 | 15 | ||||
| Pharma Foods International Co. Ltd. | 3,600 | 15 | ||||
| *,1 | Sourcenext Corp. | 17,100 | 14 | |||
| Honeys Holdings Co. Ltd. | 1,400 | 14 | ||||
| Nihon Trim Co. Ltd. | 400 | 13 | ||||
| Media Do Co. Ltd. | 1,200 | 13 | ||||
| 1 | TerraSky Co. Ltd. | 1,100 | 13 | |||
| Alpha Systems Inc. | 500 | 12 | ||||
| 1 | YA-MAN Ltd. | 2,600 | 12 | |||
| World Holdings Co. Ltd. | 600 | 11 | ||||
| Ohara Inc. | 1,400 | 11 | ||||
| GMO GlobalSign Holdings KK | 800 | 11 | ||||
| Atrae Inc. | 2,100 | 10 | ||||
| *,1 | Demae-Can Co. Ltd. | 10,400 | 10 | |||
| 1 | Alpen Co. Ltd. | 600 | 9 | |||
| 1 | Airtrip Corp. | 1,400 | 7 | |||
| * | Miyakoshi Holdings Inc. | 1,300 | 7 | |||
| 1,020,213 | ||||||
| Kuwait (0.2%) | ||||||
| Kuwait Finance House KSCP | 2,368,141 | 6,208 | ||||
| National Bank of Kuwait SAKP | 1,608,509 | 4,940 | ||||
| Mobile Telecommunications Co. KSCP | 442,262 | 781 | ||||
| Boubyan Bank KSCP | 349,403 | 774 | ||||
| Gulf Bank KSCP | 413,825 | 457 | ||||
| Mabanee Co. KPSC | 127,205 | 407 | ||||
| * | Warba Bank KSCP | 430,084 | 405 | |||
| National Industries Group Holding SAK | 412,064 | 339 | ||||
| Al Ahli Bank of Kuwait KSCP | 309,452 | 309 | ||||
| Kuwait International Bank KSCP | 205,889 | 187 | ||||
| Boursa Kuwait Securities Co. KPSC | 18,430 | 187 | ||||
| Humansoft Holding Co. KSC | 19,392 | 166 | ||||
| Kuwait Telecommunications Co. | 76,998 | 164 | ||||
| Commercial Real Estate Co. KSC | 242,151 | 160 | ||||
| Gulf Cables & Electrical Industries Group Co. KSCP | 19,802 | 126 | ||||
| Burgan Bank SAK | 182,777 | 123 | ||||
| Salhia Real Estate Co. KSCP | 73,749 | 90 | ||||
| * | Kuwait Projects Co. Holding KSCP | 321,154 | 86 | |||
| * | National Real Estate Co. KPSC | 227,560 | 53 | |||
| 15,962 | ||||||
| Malaysia (0.5%) | ||||||
| Malayan Banking Bhd. | 1,491,800 | 4,584 | ||||
| Public Bank Bhd. | 2,924,200 | 3,703 | ||||
| CIMB Group Holdings Bhd. | 1,685,500 | 3,480 | ||||
| IHH Healthcare Bhd. | 618,600 | 1,446 | ||||
| Press Metal Aluminium Holdings Bhd. | 663,500 | 1,215 | ||||
| Gamuda Bhd. | 1,037,500 | 1,116 | ||||
| SD Guthrie Bhd. | 723,000 | 1,068 | ||||
| AMMB Holdings Bhd. | 542,900 | 897 | ||||
| RHB Bank Bhd. | 398,700 | 860 | ||||
| Hong Leong Bank Bhd. | 121,000 | 724 | ||||
| Sunway Bhd. | 472,400 | 710 | ||||
66
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Celcomdigi Bhd. | 787,400 | 645 | ||||
| IOI Corp. Bhd. | 555,300 | 565 | ||||
| Axiata Group Bhd. | 934,300 | 547 | ||||
| Sime Darby Bhd. | 867,600 | 545 | ||||
| Maxis Bhd. | 545,300 | 544 | ||||
| TIME dotCom Bhd. | 335,100 | 523 | ||||
| Kuala Lumpur Kepong Bhd. | 96,100 | 469 | ||||
| Petronas Chemicals Group Bhd. | 599,800 | 463 | ||||
| Telekom Malaysia Bhd. | 229,982 | 440 | ||||
| KPJ Healthcare Bhd. | 535,300 | 402 | ||||
| United Plantations Bhd. | 52,850 | 401 | ||||
| QL Resources Bhd. | 372,350 | 390 | ||||
| Nestle Malaysia Bhd. | 11,400 | 322 | ||||
| Westports Holdings Bhd. | 203,800 | 322 | ||||
| PPB Group Bhd. | 113,200 | 316 | ||||
| IOI Properties Group Bhd. | 354,600 | 314 | ||||
| Fraser & Neave Holdings Bhd. | 34,700 | 311 | ||||
| 3 | MR DIY Group M Bhd. | 641,100 | 295 | |||
| 99 Speed Mart Retail Holdings Bhd. | 303,600 | 268 | ||||
| Bursa Malaysia Bhd. | 115,600 | 267 | ||||
| Alliance Bank Malaysia Bhd. | 181,952 | 236 | ||||
| Sime Darby Property Bhd. | 615,000 | 229 | ||||
| Zetrix Ai Bhd. | 963,300 | 203 | ||||
| Inari Amertron Bhd. | 559,000 | 203 | ||||
| Hong Leong Financial Group Bhd. | 36,400 | 199 | ||||
| * | Tanco Holdings Bhd. | 487,000 | 199 | |||
| ViTrox Corp. Bhd. | 121,600 | 143 | ||||
| Sunway Construction Group Bhd. | 75,700 | 137 | ||||
| Malaysian Pacific Industries Bhd. | 16,700 | 137 | ||||
| Top Glove Corp. Bhd. | 888,400 | 132 | ||||
| Scientex Bhd. | 115,900 | 112 | ||||
| SP Setia Bhd. Group | 472,600 | 111 | ||||
| Eco World Development Group Bhd. | 181,800 | 105 | ||||
| * | Greatech Technology Bhd. | 183,900 | 100 | |||
| MBSB Bhd. | 530,800 | 97 | ||||
| * | UWC Bhd. | 82,200 | 95 | |||
| Bank Islam Malaysia Bhd. | 149,300 | 95 | ||||
| Mah Sing Group Bhd. | 277,400 | 83 | ||||
| * | Pentamaster Corp. Bhd. | 95,750 | 81 | |||
| Kossan Rubber Industries Bhd. | 253,500 | 66 | ||||
| Mega First Corp. Bhd. | 79,000 | 63 | ||||
| * | Hartalega Holdings Bhd. | 273,300 | 62 | |||
| CTOS Digital Bhd. | 292,000 | 59 | ||||
| Syarikat Takaful Malaysia Keluarga Bhd. | 67,800 | 56 | ||||
| Padini Holdings Bhd. | 101,200 | 48 | ||||
| VS Industry Bhd. | 544,118 | 48 | ||||
| Cahya Mata Sarawak Bhd. | 134,400 | 46 | ||||
| Bermaz Auto Bhd. | 186,400 | 41 | ||||
| Nationgate Holdings Bhd. | 169,200 | 38 | ||||
| Malaysian Resources Corp. Bhd. | 438,200 | 35 | ||||
| UEM Sunrise Bhd. | 235,100 | 35 | ||||
| * | WCT Holdings Bhd. | 235,000 | 33 | |||
| * | Supermax Corp. Bhd. | 306,240 | 22 | |||
| * | D&O Green Technologies Bhd. | 129,900 | 16 | |||
| 31,517 | ||||||
| Mexico (0.7%) | ||||||
| Grupo Financiero Banorte SAB de CV | 576,900 | 6,579 | ||||
| America Movil SAB de CV Class B | 3,101,941 | 4,033 | ||||
| Fomento Economico Mexicano SAB de CV | 347,023 | 3,894 | ||||
| Cemex SAB de CV | 3,041,000 | 3,807 | ||||
| Wal-Mart de Mexico SAB de CV | 1,010,600 | 3,271 | ||||
| * | Industrias Penoles SAB de CV | 38,130 | 2,421 | |||
| Grupo Aeroportuario del Pacifico SAB de CV Class B | 81,910 | 2,137 | ||||
| Arca Continental SAB de CV | 175,100 | 2,108 | ||||
| Grupo Aeroportuario del Sureste SAB de CV Class B | 32,625 | 1,173 | ||||
| Prologis Property Mexico SA de CV | 226,308 | 1,111 | ||||
| Coca-Cola Femsa SAB de CV | 95,220 | 1,059 | ||||
| Fibra Uno Administracion SA de CV | 569,700 | 990 | ||||
| Grupo Financiero Inbursa SAB de CV | 350,000 | 890 | ||||
67
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Grupo Bimbo SAB de CV Class A | 237,134 | 860 | ||||
| Grupo Aeroportuario del Centro Norte SAB de CV Class B | 54,553 | 833 | ||||
| Kimberly-Clark de Mexico SAB de CV Class A | 302,500 | 759 | ||||
| Gentera SAB de CV | 221,800 | 646 | ||||
| Megacable Holdings SAB de CV | 158,900 | 616 | ||||
| Corp. Inmobiliaria Vesta SAB de CV | 155,100 | 571 | ||||
| Promotora y Operadora de Infraestructura SAB de CV | 34,340 | 566 | ||||
| Gruma SAB de CV Class B | 31,350 | 562 | ||||
| 3 | Banco del Bajio SA | 163,400 | 546 | |||
| Regional SAB de CV | 46,900 | 440 | ||||
| 3 | FIBRA Macquarie Mexico | 174,416 | 436 | |||
| Qualitas Controladora SAB de CV | 42,300 | 413 | ||||
| Fibra MTY SAPI de CV | 466,700 | 401 | ||||
| Grupo Comercial Chedraui SA de CV | 56,800 | 364 | ||||
| Alsea SAB de CV | 97,600 | 344 | ||||
| Grupo Televisa SAB | 483,600 | 289 | ||||
| Concentradora Fibra Danhos SA de CV | 173,800 | 276 | ||||
| Bolsa Mexicana de Valores SAB de CV | 113,200 | 250 | ||||
| El Puerto de Liverpool SAB de CV | 33,400 | 208 | ||||
| * | Orbia Advance Corp. SAB de CV | 172,700 | 205 | |||
| Genomma Lab Internacional SAB de CV Class B | 141,500 | 150 | ||||
| * | Controladora Vuela Cia de Aviacion SAB de CV Class A | 170,600 | 148 | |||
| * | Alpek SAB de CV Class A | 291,549 | 139 | |||
| La Comer SAB de CV | 54,563 | 123 | ||||
| Operadora De Sites Mexicanos SAB de CV | 135,700 | 121 | ||||
| *,3 | Nemak SAB de CV | 513,300 | 96 | |||
| *,3 | Grupo Traxion SAB de CV Class A | 72,300 | 56 | |||
| Grupo Rotoplas SAB de CV | 43,341 | 29 | ||||
| 43,920 | ||||||
| Netherlands (3.5%) | ||||||
| ASML Holding NV | 78,547 | 114,239 | ||||
| ING Groep NV | 591,865 | 17,077 | ||||
| Prosus NV | 245,123 | 12,599 | ||||
| Koninklijke Ahold Delhaize NV | 177,822 | 8,787 | ||||
| ASM International NV | 9,299 | 7,843 | ||||
| *,3 | Adyen NV | 5,291 | 6,213 | |||
| Koninklijke Philips NV | 152,889 | 4,899 | ||||
| Koninklijke KPN NV | 761,026 | 4,326 | ||||
| NN Group NV | 52,212 | 4,282 | ||||
| Universal Music Group NV | 187,516 | 4,222 | ||||
| 3 | ABN AMRO Bank NV | 115,324 | 3,863 | |||
| Wolters Kluwer NV | 46,513 | 3,758 | ||||
| BE Semiconductor Industries NV | 14,189 | 3,180 | ||||
| 3 | Euronext NV | 17,719 | 2,927 | |||
| DSM-Firmenich AG | 36,476 | 2,605 | ||||
| Akzo Nobel NV | 33,913 | 2,382 | ||||
| ASR Nederland NV | 30,318 | 2,203 | ||||
| Aegon Ltd. | 275,578 | 2,097 | ||||
| * | Magnum Ice Cream Co. NV | 96,150 | 1,526 | |||
| EXOR NV | 17,236 | 1,513 | ||||
| 1 | IMCD NV | 12,100 | 1,166 | |||
| JDE Peet's NV | 30,359 | 1,138 | ||||
| * | InPost SA | 51,362 | 922 | |||
| Randstad NV | 22,378 | 738 | ||||
| Allfunds Group plc | 70,704 | 704 | ||||
| 3 | CVC Capital Partners plc | 40,263 | 575 | |||
| 3 | Signify NV | 23,884 | 556 | |||
| 3 | CTP NV | 23,717 | 504 | |||
| Koninklijke Heijmans NV | 4,576 | 482 | ||||
| APERAM SA | 8,863 | 465 | ||||
| Van Lanschot Kempen NV | 6,061 | 404 | ||||
| *,3 | Basic-Fit NV | 9,870 | 367 | |||
| TKH Group NV | 7,047 | 326 | ||||
| Eurocommercial Properties NV | 9,667 | 325 | ||||
| * | Galapagos NV | 8,832 | 297 | |||
| Corbion NV | 10,785 | 248 | ||||
| * | Havas NV | 11,182 | 228 | |||
| * | Flow Traders Ltd. | 5,921 | 185 | |||
| Wereldhave NV | 5,911 | 163 | ||||
68
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| OCI NV | 19,563 | 84 | ||||
| * | TomTom NV | 11,656 | 72 | |||
| PostNL NV | 52,070 | 70 | ||||
| NSI NV | 2,763 | 63 | ||||
| 1 | Brunel International NV | 5,447 | 45 | |||
| 220,668 | ||||||
| New Zealand (0.2%) | ||||||
| Fisher & Paykel Healthcare Corp. Ltd. | 116,141 | 2,839 | ||||
| Auckland International Airport Ltd. | 342,273 | 1,883 | ||||
| Infratil Ltd. | 189,742 | 1,276 | ||||
| Meridian Energy Ltd. | 264,291 | 896 | ||||
| a2 Milk Co. Ltd. | 108,606 | 752 | ||||
| Mainfreight Ltd. | 15,721 | 607 | ||||
| EBOS Group Ltd. | 35,200 | 505 | ||||
| Chorus Ltd. | 84,691 | 483 | ||||
| Spark New Zealand Ltd. | 350,160 | 479 | ||||
| Mercury NZ Ltd. | 124,891 | 479 | ||||
| * | Fletcher Building Ltd. | 220,193 | 463 | |||
| Freightways Group Ltd. | 30,334 | 261 | ||||
| Summerset Group Holdings Ltd. | 40,037 | 256 | ||||
| a2 Milk Co. Ltd. (XNZE) | 34,200 | 237 | ||||
| * | Ryman Healthcare Ltd. | 156,946 | 234 | |||
| Precinct Properties Group | 353,730 | 232 | ||||
| Kiwi Property Group Ltd. | 249,780 | 150 | ||||
| * | Gentrack Group Ltd. | 22,389 | 111 | |||
| Vector Ltd. | 37,626 | 108 | ||||
| Scales Corp. Ltd. | 21,818 | 82 | ||||
| Air New Zealand Ltd. | 236,505 | 79 | ||||
| Argosy Property Ltd. | 111,338 | 76 | ||||
| Stride Property Group | 99,558 | 72 | ||||
| SKY Network Television Ltd. | 23,513 | 47 | ||||
| 12,607 | ||||||
| Norway (0.4%) | ||||||
| DNB Bank ASA | 162,036 | 5,129 | ||||
| Norsk Hydro ASA | 257,595 | 2,390 | ||||
| Telenor ASA | 124,454 | 2,309 | ||||
| Mowi ASA | 87,746 | 2,073 | ||||
| Orkla ASA | 135,167 | 1,850 | ||||
| Yara International ASA | 32,817 | 1,661 | ||||
| Storebrand ASA | 83,334 | 1,580 | ||||
| Gjensidige Forsikring ASA | 35,784 | 1,011 | ||||
| SpareBank 1 Sor-Norge ASA | 40,132 | 892 | ||||
| Salmar ASA | 14,851 | 891 | ||||
| Vend Marketplaces ASA Class B | 29,995 | 756 | ||||
| Protector Forsikring ASA | 12,359 | 673 | ||||
| Sparebanken Norge | 26,880 | 581 | ||||
| SpareBank 1 SMN | 25,393 | 570 | ||||
| * | Nordic Semiconductor ASA | 37,201 | 561 | |||
| TOMRA Systems ASA | 44,659 | 553 | ||||
| Bakkafrost P/F | 9,933 | 476 | ||||
| Aker ASA Class A | 3,942 | 383 | ||||
| Veidekke ASA | 17,092 | 353 | ||||
| Borregaard ASA | 17,331 | 322 | ||||
| Wallenius Wilhelmsen ASA | 22,409 | 312 | ||||
| *,3 | Scatec ASA | 23,726 | 306 | |||
| 3 | Europris ASA | 28,908 | 276 | |||
| Hoegh Autoliners ASA | 19,142 | 267 | ||||
| * | Cadeler A/S | 39,683 | 255 | |||
| Leroy Seafood Group ASA | 47,795 | 249 | ||||
| *,3 | AutoStore Holdings Ltd. | 192,729 | 220 | |||
| Atea ASA | 13,802 | 210 | ||||
| 3 | Elkem ASA | 50,086 | 161 | |||
| MPC Container Ships ASA | 66,447 | 156 | ||||
| Austevoll Seafood ASA | 14,222 | 147 | ||||
| 3 | Entra ASA | 8,825 | 108 | |||
| Bonheur ASA | 3,332 | 88 | ||||
| * | Grieg Seafood ASA | 8,272 | 65 | |||
69
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| *,1 | NEL ASA | 299,634 | 65 | |||
| 27,899 | ||||||
| Philippines (0.1%) | ||||||
| International Container Terminal Services Inc. | 218,380 | 2,722 | ||||
| BDO Unibank Inc. | 455,936 | 1,084 | ||||
| SM Prime Holdings Inc. | 2,049,900 | 764 | ||||
| Bank of the Philippine Islands | 374,333 | 753 | ||||
| Ayala Land Inc. | 1,313,700 | 476 | ||||
| PLDT Inc. | 19,445 | 472 | ||||
| Metropolitan Bank & Trust Co. | 326,057 | 435 | ||||
| Jollibee Foods Corp. | 98,820 | 367 | ||||
| JG Summit Holdings Inc. | 571,700 | 298 | ||||
| AREIT Inc. | 310,300 | 226 | ||||
| GT Capital Holdings Inc. | 19,140 | 222 | ||||
| RL Commercial REIT Inc. | 1,624,800 | 213 | ||||
| Universal Robina Corp. | 150,810 | 209 | ||||
| Puregold Price Club Inc. | 230,700 | 168 | ||||
| Globe Telecom Inc. | 5,425 | 164 | ||||
| Century Pacific Food Inc. | 217,600 | 151 | ||||
| Manila Water Co. Inc. | 212,400 | 149 | ||||
| Robinsons Land Corp. | 404,100 | 130 | ||||
| Converge Information & Communications Technology Solutions Inc. | 477,500 | 119 | ||||
| Security Bank Corp. | 88,909 | 114 | ||||
| 3 | Monde Nissin Corp. | 830,300 | 95 | |||
| * | Cebu Air Inc. | 81,400 | 53 | |||
| Megaworld Corp. | 1,206,000 | 47 | ||||
| D&L Industries Inc. | 433,700 | 34 | ||||
| Wilcon Depot Inc. | 287,300 | 34 | ||||
| 9,499 | ||||||
| Poland (0.4%) | ||||||
| Powszechna Kasa Oszczednosci Bank Polski SA | 172,053 | 4,458 | ||||
| Bank Polska Kasa Opieki SA | 35,285 | 2,236 | ||||
| Powszechny Zaklad Ubezpieczen SA | 112,861 | 2,138 | ||||
| LPP SA | 256 | 1,481 | ||||
| Santander Bank Polska SA | 8,539 | 1,418 | ||||
| *,3 | Allegro.eu SA | 160,758 | 1,251 | |||
| *,3 | Dino Polska SA | 99,630 | 1,120 | |||
| CD Projekt SA | 14,587 | 991 | ||||
| * | mBank SA | 2,842 | 826 | |||
| Asseco Poland SA | 13,413 | 663 | ||||
| * | Zabka Group SA | 99,986 | 626 | |||
| Alior Bank SA | 17,811 | 597 | ||||
| * | Bank Millennium SA | 121,457 | 591 | |||
| * | Benefit Systems SA | 540 | 584 | |||
| Budimex SA | 2,493 | 562 | ||||
| Grupa Kety SA | 1,801 | 545 | ||||
| Orange Polska SA | 129,286 | 508 | ||||
| KRUK SA | 3,241 | 420 | ||||
| 3 | XTB SA | 14,344 | 357 | |||
| 3 | Pepco Group NV | 39,510 | 326 | |||
| *,1 | Modivo SA | 10,176 | 316 | |||
| Bank Handlowy w Warszawie SA | 5,458 | 182 | ||||
| Warsaw Stock Exchange | 4,645 | 106 | ||||
| * | Cyfrowy Polsat SA | 27,583 | 98 | |||
| * | Grupa Azoty SA | 8,722 | 40 | |||
| 22,440 | ||||||
| Portugal (0.1%) | ||||||
| Banco Comercial Portugues SA | 1,801,050 | 1,892 | ||||
| Jeronimo Martins SGPS SA | 56,238 | 1,478 | ||||
| EDP Renovaveis SA | 64,141 | 1,013 | ||||
| Sonae SGPS SA | 160,212 | 381 | ||||
| NOS SGPS SA | 40,553 | 247 | ||||
| 1 | Navigator Co. SA | 36,092 | 147 | |||
| CTT-Correios de Portugal SA | 15,477 | 131 | ||||
| 1 | Altri SGPS SA | 8,211 | 47 | |||
| 5,336 | ||||||
| Qatar (0.2%) | ||||||
| Qatar National Bank QPSC | 875,133 | 4,646 | ||||
70
ESG International Stock ETF
71
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Yanbu Cement Co. | 25,245 | 97 | ||||
| * | Perfect Presentation For Commercial Services Co. | 52,018 | 94 | |||
| Almunajem Foods Co. | 6,624 | 90 | ||||
| * | Saudi Reinsurance Co. | 14,486 | 90 | |||
| * | Bawan Co. | 5,791 | 68 | |||
| BinDawood Holding Co. | 56,335 | 66 | ||||
| Saudi Ceramic Co. | 9,291 | 65 | ||||
| Al-Dawaa Medical Services Co. | 4,938 | 64 | ||||
| * | Jahez International Co. | 20,105 | 63 | |||
| * | Advanced Building Industries Co. | 5,863 | 57 | |||
| Eastern Province Cement Co. | 7,888 | 49 | ||||
| City Cement Co. | 13,514 | 41 | ||||
| * | Middle East Paper Co. | 7,987 | 36 | |||
| 47,618 | ||||||
| Singapore (1.0%) | ||||||
| DBS Group Holdings Ltd. | 399,050 | 17,975 | ||||
| Oversea-Chinese Banking Corp. Ltd. | 641,400 | 10,855 | ||||
| United Overseas Bank Ltd. | 242,500 | 7,076 | ||||
| Singapore Telecommunications Ltd. | 1,432,300 | 5,699 | ||||
| Keppel Ltd. | 289,500 | 2,990 | ||||
| Singapore Exchange Ltd. | 164,400 | 2,361 | ||||
| CapitaLand Integrated Commercial Trust | 1,141,137 | 2,208 | ||||
| CapitaLand Ascendas REIT | 772,100 | 1,640 | ||||
| Singapore Airlines Ltd. | 274,200 | 1,555 | ||||
| CapitaLand Investment Ltd. | 457,900 | 1,107 | ||||
| UOL Group Ltd. | 101,000 | 900 | ||||
| Venture Corp. Ltd. | 61,700 | 762 | ||||
| Keppel DC REIT | 405,764 | 740 | ||||
| City Developments Ltd. | 91,000 | 705 | ||||
| Mapletree Logistics Trust | 681,900 | 695 | ||||
| SATS Ltd. | 188,693 | 584 | ||||
| ComfortDelGro Corp. Ltd. | 460,700 | 564 | ||||
| Frasers Centrepoint Trust | 247,158 | 447 | ||||
| Mapletree Pan Asia Commercial Trust | 393,000 | 441 | ||||
| NetLink NBN Trust | 532,800 | 417 | ||||
| Frasers Logistics & Commercial Trust | 508,189 | 398 | ||||
| CapitaLand Ascott Trust | 447,500 | 343 | ||||
| Sheng Siong Group Ltd. | 144,800 | 301 | ||||
| UMS Integration Ltd. | 236,900 | 271 | ||||
| ESR-REIT | 126,748 | 249 | ||||
| iFAST Corp. Ltd. | 30,200 | 221 | ||||
| * | AEM Holdings Ltd. | 89,963 | 206 | |||
| * | Yangzijiang Maritime Development Ltd. | 408,700 | 201 | |||
| Hutchison Port Holdings Trust | 841,100 | 189 | ||||
| SIA Engineering Co. Ltd. | 58,600 | 163 | ||||
| First Resources Ltd. | 83,100 | 155 | ||||
| Lendlease Global Commercial REIT | 318,232 | 144 | ||||
| Raffles Medical Group Ltd. | 165,100 | 138 | ||||
| CapitaLand China Trust | 237,400 | 128 | ||||
| Olam Group Ltd. | 158,200 | 115 | ||||
| Singapore Post Ltd. | 313,900 | 93 | ||||
| CDL Hospitality Trusts | 130,600 | 89 | ||||
| StarHub Ltd. | 106,900 | 87 | ||||
| Riverstone Holdings Ltd. | 124,000 | 75 | ||||
| Bumitama Agri Ltd. | 51,900 | 54 | ||||
| Nanofilm Technologies International Ltd. | 61,800 | 32 | ||||
| * | Manulife US REIT | 367,194 | 24 | |||
| * | COSCO SHIPPING International Singapore Co. Ltd. | 240,700 | 23 | |||
| 63,420 | ||||||
| South Africa (1.4%) | ||||||
| Anglogold Ashanti plc (XJSE) | 84,858 | 10,856 | ||||
| Gold Fields Ltd. | 178,353 | 10,453 | ||||
| Naspers Ltd. | 151,690 | 8,442 | ||||
| FirstRand Ltd. | 1,066,960 | 6,649 | ||||
| Valterra Platinum Ltd. | 52,725 | 6,191 | ||||
| Standard Bank Group Ltd. | 260,674 | 5,250 | ||||
| Capitec Bank Holdings Ltd. | 16,932 | 5,045 | ||||
| Impala Platinum Holdings Ltd. | 178,854 | 3,973 | ||||
| Absa Group Ltd. | 153,661 | 2,626 | ||||
72
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Sanlam Ltd. | 325,573 | 2,175 | ||||
| Northam Platinum Holdings Ltd. | 70,167 | 1,921 | ||||
| Anglogold Ashanti plc | 14,701 | 1,878 | ||||
| Nedbank Group Ltd. | 90,951 | 1,799 | ||||
| Bid Corp. Ltd. | 67,877 | 1,795 | ||||
| Discovery Ltd. | 108,778 | 1,782 | ||||
| Shoprite Holdings Ltd. | 95,369 | 1,586 | ||||
| Remgro Ltd. | 102,858 | 1,252 | ||||
| 3 | Pepkor Holdings Ltd. | 749,307 | 1,247 | |||
| NEPI Rockcastle NV | 122,734 | 1,141 | ||||
| Old Mutual Ltd. | 990,844 | 1,026 | ||||
| Clicks Group Ltd. | 48,431 | 969 | ||||
| Vodacom Group Ltd. | 89,814 | 917 | ||||
| OUTsurance Group Ltd. | 171,909 | 794 | ||||
| Growthpoint Properties Ltd. | 610,203 | 721 | ||||
| Tiger Brands Ltd. | 35,325 | 707 | ||||
| Woolworths Holdings Ltd. | 193,819 | 664 | ||||
| Mr. Price Group Ltd. | 55,179 | 636 | ||||
| Aspen Pharmacare Holdings Ltd. | 71,194 | 606 | ||||
| Momentum Group Ltd. | 233,045 | 592 | ||||
| Redefine Properties Ltd. | 1,340,488 | 585 | ||||
| AVI Ltd. | 63,376 | 447 | ||||
| Vukile Property Fund Ltd. | 259,184 | 414 | ||||
| Investec Ltd. | 42,266 | 363 | ||||
| DRDGOLD Ltd. | 92,459 | 348 | ||||
| Foschini Group Ltd. | 63,921 | 348 | ||||
| Fortress Real Estate Investments Ltd. Class B | 201,027 | 331 | ||||
| Resilient REIT Ltd. | 58,309 | 328 | ||||
| Hyprop Investments Ltd. | 77,459 | 313 | ||||
| Netcare Ltd. | 248,803 | 268 | ||||
| Truworths International Ltd. | 64,966 | 245 | ||||
| Motus Holdings Ltd. | 28,987 | 245 | ||||
| 3 | Dis-Chem Pharmacies Ltd. | 105,334 | 245 | |||
| Kumba Iron Ore Ltd. | 9,733 | 225 | ||||
| Telkom SA SOC Ltd. | 50,809 | 206 | ||||
| Santam Ltd. | 6,952 | 191 | ||||
| Life Healthcare Group Holdings Ltd. | 245,329 | 187 | ||||
| Coronation Fund Managers Ltd. | 54,769 | 173 | ||||
| DataTec Ltd. | 33,619 | 163 | ||||
| Astral Foods Ltd. | 8,592 | 150 | ||||
| Equites Property Fund Ltd. | 120,835 | 145 | ||||
| Attacq Ltd. | 122,045 | 142 | ||||
| Omnia Holdings Ltd. | 25,166 | 141 | ||||
| JSE Ltd. | 13,022 | 137 | ||||
| We Buy Cars Holdings Ltd. | 48,597 | 133 | ||||
| * | Pick n Pay Stores Ltd. | 103,584 | 126 | |||
| * | MAS plc | 86,051 | 117 | |||
| Ninety One Ltd. | 34,143 | 117 | ||||
| Wilson Bayly Holmes-Ovcon Ltd. | 8,685 | 115 | ||||
| * | Sappi Ltd. | 108,821 | 115 | |||
| Burstone Group Ltd. | 165,486 | 106 | ||||
| * | KAP Ltd. | 432,805 | 59 | |||
| 90,921 | ||||||
| South Korea (6.0%) | ||||||
| Samsung Electronics Co. Ltd. | 937,429 | 140,307 | ||||
| SK hynix Inc. | 107,970 | 79,832 | ||||
| Hyundai Motor Co. | 26,683 | 12,510 | ||||
| * | SK Square Co. Ltd. | 17,827 | 8,001 | |||
| KB Financial Group Inc. | 70,969 | 7,833 | ||||
| Shinhan Financial Group Co. Ltd. | 84,822 | 5,705 | ||||
| NAVER Corp. | 29,994 | 5,299 | ||||
| * | Celltrion Inc. | 29,375 | 4,863 | |||
| Hana Financial Group Inc. | 53,504 | 4,526 | ||||
| Hyundai Mobis Co. Ltd. | 11,623 | 4,178 | ||||
| * | Samsung SDI Co. Ltd. | 11,725 | 3,801 | |||
| Samsung Electro-Mechanics Co. Ltd. | 10,864 | 3,395 | ||||
| Woori Financial Group Inc. | 133,764 | 3,347 | ||||
| *,3 | Samsung Biologics Co. Ltd. | 2,376 | 2,931 | |||
| Kakao Corp. | 60,840 | 2,633 | ||||
73
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| *,1 | Ecopro Co. Ltd. | 19,745 | 2,535 | |||
| LG Chem Ltd. | 8,602 | 2,501 | ||||
| Samsung Life Insurance Co. Ltd. | 15,527 | 2,486 | ||||
| *,1 | LG Energy Solution Ltd. | 8,142 | 2,420 | |||
| Samsung Fire & Marine Insurance Co. Ltd. | 6,090 | 2,244 | ||||
| Alteogen Inc. | 7,802 | 2,210 | ||||
| LG Electronics Inc. | 20,233 | 2,047 | ||||
| Mirae Asset Securities Co. Ltd. | 38,810 | 1,945 | ||||
| Sam Chun Dang Pharm Co. Ltd. | 2,900 | 1,664 | ||||
| LS Electric Co. Ltd. | 2,998 | 1,642 | ||||
| Hyundai Glovis Co. Ltd. | 7,355 | 1,481 | ||||
| Korea Investment Holdings Co. Ltd. | 8,177 | 1,470 | ||||
| *,1 | Ecopro BM Co. Ltd. | 9,428 | 1,452 | |||
| LG Corp. | 17,427 | 1,304 | ||||
| * | Meritz Financial Group Inc. | 14,719 | 1,298 | |||
| Korea Zinc Co. Ltd. | 907 | 1,277 | ||||
| HYBE Co. Ltd. | 4,406 | 1,185 | ||||
| *,1 | POSCO Future M Co. Ltd. | 6,542 | 1,123 | |||
| DB Insurance Co. Ltd. | 8,688 | 1,104 | ||||
| Samsung SDS Co. Ltd. | 7,944 | 1,077 | ||||
| * | ABLBio Inc. | 7,943 | 1,068 | |||
| 1 | APR Corp. | 4,888 | 1,061 | |||
| * | Krafton Inc. | 5,588 | 965 | |||
| KIWOOM Securities Co. Ltd. | 2,948 | 953 | ||||
| * | Rainbow Robotics | 1,594 | 953 | |||
| IsuPetasys Co. Ltd. | 10,354 | 922 | ||||
| Samsung Securities Co. Ltd. | 12,067 | 897 | ||||
| Industrial Bank of Korea | 49,651 | 889 | ||||
| Yuhan Corp. | 11,195 | 857 | ||||
| *,1 | HLB Inc. | 23,780 | 855 | |||
| * | Peptron Inc. | 4,095 | 811 | |||
| * | Hanwha Solutions Corp. | 21,530 | 791 | |||
| LEENO Industrial Inc. | 9,750 | 722 | ||||
| Hankook Tire & Technology Co. Ltd. | 13,857 | 702 | ||||
| 1 | Samyang Foods Co. Ltd. | 813 | 690 | |||
| BNK Financial Group Inc. | 49,200 | 681 | ||||
| JB Financial Group Co. Ltd. | 30,528 | 673 | ||||
| 1 | KakaoBank Corp. | 35,698 | 673 | |||
| * | LigaChem Biosciences Inc. | 5,010 | 667 | |||
| LG Innotek Co. Ltd. | 2,833 | 628 | ||||
| NH Investment & Securities Co. Ltd. | 25,187 | 622 | ||||
| *,1 | Samsung Episholdings Co. Ltd. | 1,309 | 614 | |||
| * | LG Display Co. Ltd. | 58,010 | 579 | |||
| *,1 | Coway Co. Ltd. | 10,028 | 570 | |||
| Amorepacific Corp. | 5,352 | 563 | ||||
| HD Construction Equipment Co. Ltd. | 5,722 | 558 | ||||
| Hyundai Steel Co. | 17,114 | 552 | ||||
| * | Hanmi Pharm Co. Ltd. | 1,291 | 532 | |||
| * | Voronoi Inc. | 2,193 | 509 | |||
| *,1 | Hanjin Kal Corp. | 4,515 | 489 | |||
| WONIK IPS Co. Ltd. | 5,572 | 487 | ||||
| * | SK Biopharmaceuticals Co. Ltd. | 5,835 | 486 | |||
| * | Eo Technics Co. Ltd. | 1,638 | 478 | |||
| 1 | Hyundai Autoever Corp. | 1,352 | 472 | |||
| LG Uplus Corp. | 40,869 | 470 | ||||
| 1 | Doosan Bobcat Inc. | 10,149 | 458 | |||
| *,1 | L&F Co. Ltd. | 5,118 | 447 | |||
| * | Orion Corp. | 4,727 | 438 | |||
| * | Mezzion Pharma Co. Ltd. | 4,407 | 434 | |||
| KCC Corp. | 921 | 417 | ||||
| *,1 | Hanwha Vision Co. Ltd. | 6,987 | 414 | |||
| * | Hanwha Engine | 11,012 | 413 | |||
| CJ Corp. | 2,695 | 409 | ||||
| iM Financial Group Co. Ltd. | 29,440 | 376 | ||||
| NCSoft Corp. | 2,319 | 372 | ||||
| DB HiTek Co. Ltd. | 5,497 | 367 | ||||
| Hansol Chemical Co. Ltd. | 1,548 | 363 | ||||
| * | D&D PharmaTech Inc. | 5,512 | 352 | |||
| 1 | LG H&H Co. Ltd. | 1,853 | 344 | |||
| Shinsegae Inc. | 1,308 | 334 | ||||
74
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Hyundai Elevator Co. Ltd. | 4,858 | 333 | ||||
| PharmaResearch Co. Ltd. | 1,348 | 327 | ||||
| Douzone Bizon Co. Ltd. | 3,795 | 312 | ||||
| *,1 | ISU Specialty Chemical | 3,622 | 290 | |||
| 1 | Jusung Engineering Co. Ltd. | 7,186 | 281 | |||
| E-MART Inc. | 3,832 | 280 | ||||
| 1 | Sanil Electric Co. Ltd. | 2,351 | 272 | |||
| * | Pearl Abyss Corp. | 7,186 | 268 | |||
| 1 | L&C Bio Co. Ltd. | 3,819 | 262 | |||
| * | SKC Co. Ltd. | 3,294 | 260 | |||
| Caregen Co. Ltd. | 2,724 | 259 | ||||
| Daeduck Electronics Co. Ltd. | 5,916 | 258 | ||||
| Cheil Worldwide Inc. | 16,796 | 256 | ||||
| HL Mando Co. Ltd. | 5,846 | 255 | ||||
| *,1 | Kakaopay Corp. | 5,498 | 255 | |||
| 1 | Posco DX Co. Ltd. | 9,321 | 254 | |||
| Youngone Corp. | 3,757 | 252 | ||||
| *,1 | Doosan Robotics Inc. | 3,402 | 252 | |||
| ISC Co. Ltd. | 1,843 | 248 | ||||
| Eugene Technology Co. Ltd. | 2,626 | 245 | ||||
| *,1 | Ecopro Materials Co. Ltd. | 4,901 | 245 | |||
| * | Hyundai Marine & Fire Insurance Co. Ltd. | 10,212 | 244 | |||
| * | Hanall Biopharma Co. Ltd. | 5,710 | 244 | |||
| Korean Reinsurance Co. | 24,793 | 240 | ||||
| * | JYP Entertainment Corp. | 4,948 | 240 | |||
| * | HD-Hyundai Marine Engine | 3,958 | 240 | |||
| * | ST Pharm Co. Ltd. | 2,257 | 239 | |||
| 1 | HPSP Co. Ltd. | 7,570 | 236 | |||
| * | Fadu Inc. | 5,707 | 235 | |||
| Misto Holdings Corp. | 6,880 | 234 | ||||
| * | Doosan Fuel Cell Co. Ltd. | 8,204 | 227 | |||
| 1 | Soulbrain Co. Ltd. | 702 | 218 | |||
| *,1 | GemVax & Kael Co. Ltd. | 6,732 | 217 | |||
| * | Silicon2 Co. Ltd. | 7,106 | 217 | |||
| CJ CheilJedang Corp. | 1,444 | 215 | ||||
| * | Oscotec Inc. | 5,866 | 213 | |||
| 1 | Koh Young Technology Inc. | 9,606 | 213 | |||
| Dongjin Semichem Co. Ltd. | 5,536 | 212 | ||||
| *,1 | Seoul Semiconductor Co. Ltd. | 25,287 | 202 | |||
| * | Hyundai Bioscience Co. Ltd. | 18,383 | 202 | |||
| S-1 Corp. | 3,302 | 201 | ||||
| Pan Ocean Co. Ltd. | 54,142 | 199 | ||||
| * | Lotte Energy Materials Corp. | 6,377 | 199 | |||
| *,1 | Classys Inc. | 4,916 | 199 | |||
| * | Hana Micron Inc. | 7,818 | 197 | |||
| Samsung Card Co. Ltd. | 4,478 | 196 | ||||
| *,1 | Cosmax Inc. | 1,460 | 193 | |||
| S&S Tech Corp. | 2,737 | 188 | ||||
| *,1 | Hotel Shilla Co. Ltd. | 5,618 | 187 | |||
| *,1 | Hugel Inc. | 981 | 184 | |||
| Celltrion Pharm Inc. | 3,680 | 183 | ||||
| SIMMTECH Co. Ltd. | 4,856 | 183 | ||||
| Hyundai Department Store Co. Ltd. | 2,381 | 182 | ||||
| TechWing Inc. | 5,619 | 182 | ||||
| * | Hanwha Life Insurance Co. Ltd. | 52,513 | 181 | |||
| *,1 | SFA Semicon Co. Ltd. | 32,556 | 179 | |||
| Youngone Holdings Co. Ltd. | 1,026 | 178 | ||||
| *,1 | NongShim Co. Ltd. | 596 | 178 | |||
| *,1 | SOLUM Co. Ltd. | 13,360 | 172 | |||
| * | Seojin System Co. Ltd. | 5,086 | 168 | |||
| Otoki Corp. | 605 | 167 | ||||
| 3 | Netmarble Corp. | 4,571 | 167 | |||
| Park Systems Corp. | 822 | 165 | ||||
| Daou Technology Inc. | 4,330 | 164 | ||||
| 1 | Daishin Securities Co. Ltd. | 5,185 | 162 | |||
| *,1 | CosmoAM&T Co. Ltd. | 3,917 | 159 | |||
| * | CS Wind Corp. | 4,255 | 159 | |||
| SM Entertainment Co. Ltd. | 1,954 | 157 | ||||
| *,1 | Lunit Inc. | 5,514 | 156 | |||
| * | Chabiotech Co. Ltd. | 10,353 | 155 | |||
75
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | SK Bioscience Co. Ltd. | 4,565 | 155 | |||
| *,1 | Enchem Co. Ltd. | 2,927 | 154 | |||
| Shinsung Delta Tech Co. Ltd. | 3,142 | 153 | ||||
| 1 | PSK Inc. | 3,354 | 150 | |||
| Dongsuh Cos. Inc. | 7,807 | 149 | ||||
| People & Technology Inc. | 3,713 | 141 | ||||
| Lotte Shopping Co. Ltd. | 1,863 | 139 | ||||
| * | Naturecell Co. Ltd. | 9,246 | 138 | |||
| LOTTE Fine Chemical Co. Ltd. | 3,874 | 138 | ||||
| * | SL Corp. | 2,706 | 138 | |||
| Kolmar Korea Co. Ltd. | 2,601 | 138 | ||||
| Hyosung TNC Corp. | 458 | 136 | ||||
| SK Securities Co. Ltd. | 91,530 | 135 | ||||
| Partron Co. Ltd. | 22,498 | 134 | ||||
| * | Hanon Systems | 41,207 | 133 | |||
| 1 | Kolon Industries Inc. | 2,780 | 131 | |||
| Hansol Paper Co. Ltd. | 20,968 | 129 | ||||
| Tokai Carbon Korea Co. Ltd. | 823 | 129 | ||||
| F&F Co. Ltd. | 2,603 | 128 | ||||
| * | RFHIC Corp. | 3,212 | 127 | |||
| 1 | Daejoo Electronic Materials Co. Ltd. | 1,806 | 127 | |||
| *,1 | LS Materials Ltd. | 10,193 | 125 | |||
| * | Kumho Tire Co. Inc. | 25,496 | 124 | |||
| TKG Huchems Co. Ltd. | 9,229 | 122 | ||||
| TES Co. Ltd. | 2,380 | 122 | ||||
| Intellian Technologies Inc. | 1,443 | 121 | ||||
| Innocean Worldwide Inc. | 8,573 | 119 | ||||
| *,1 | Il Dong Pharmaceutical Co. Ltd. | 4,427 | 119 | |||
| ESR Kendall Square REIT Co. Ltd. | 38,996 | 117 | ||||
| * | Hanwha Investment & Securities Co. Ltd. | 19,767 | 115 | |||
| KCC Glass Corp. | 5,656 | 114 | ||||
| Yuanta Securities Korea Co. Ltd. | 30,352 | 110 | ||||
| * | Yungjin Pharmaceutical Co. Ltd. | 78,152 | 109 | |||
| * | Creative & Innovative System | 10,517 | 107 | |||
| * | Green Cross Corp. | 903 | 106 | |||
| YG Entertainment Inc. | 2,051 | 105 | ||||
| Daewoong Pharmaceutical Co. Ltd. | 843 | 103 | ||||
| 1 | Pharmicell Co. Ltd. | 9,124 | 103 | |||
| iMarketKorea Inc. | 18,762 | 103 | ||||
| * | GI Innovation Inc. | 9,214 | 103 | |||
| Lake Materials Co. Ltd. | 6,170 | 102 | ||||
| LX Holdings Corp. | 15,973 | 101 | ||||
| HK inno N Corp. | 2,707 | 101 | ||||
| Seegene Inc. | 5,352 | 98 | ||||
| * | Chong Kun Dang Pharmaceutical Corp. | 1,505 | 98 | |||
| 1 | Doosan Tesna Inc. | 2,032 | 96 | |||
| Lotte Rental Co. Ltd. | 3,978 | 93 | ||||
| Samyang Corp. | 2,589 | 92 | ||||
| 1 | Harim Holdings Co. Ltd. | 8,158 | 92 | |||
| Amorepacific Holdings Corp. | 4,161 | 91 | ||||
| * | CJ ENM Co. Ltd. | 1,775 | 90 | |||
| * | Asiana Airlines Inc. | 16,566 | 89 | |||
| *,3 | SK IE Technology Co. Ltd. | 4,680 | 88 | |||
| NEXTIN Inc. | 1,496 | 86 | ||||
| HDC Holdings Co. Ltd. | 4,934 | 85 | ||||
| LX Semicon Co. Ltd. | 2,067 | 84 | ||||
| 1 | Hyundai GF Holdings | 7,406 | 82 | |||
| Ecopro HN Co. Ltd. | 3,013 | 80 | ||||
| * | Seobu T&D | 7,287 | 79 | |||
| Medytox Inc. | 884 | 79 | ||||
| * | HS Hyosung Advanced Materials Corp. | 453 | 79 | |||
| HAESUNG DS Co. Ltd. | 1,752 | 79 | ||||
| SK Chemicals Co. Ltd. | 1,623 | 78 | ||||
| Advanced Nano Products Co. Ltd. | 1,580 | 78 | ||||
| Hankook & Co. Co. Ltd. | 3,492 | 76 | ||||
| * | DoubleUGames Co. Ltd. | 2,068 | 76 | |||
| * | MegaStudyEdu Co. Ltd. | 2,286 | 76 | |||
| 1 | NICE Information Service Co. Ltd. | 6,261 | 75 | |||
| Mcnex Co. Ltd. | 3,914 | 74 | ||||
| *,1 | Kakao Games Corp. | 7,250 | 74 | |||
76
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Korea Petrochemical Ind Co. Ltd. | 552 | 73 | ||||
| * | Duk San Neolux Co. Ltd. | 2,518 | 73 | |||
| 1 | Cheryong Electric Co. Ltd. | 1,881 | 73 | |||
| 1 | Hana Tour Service Inc. | 2,152 | 72 | |||
| * | Shin Poong Pharmaceutical Co. Ltd. | 8,136 | 69 | |||
| * | NHN Corp. | 2,569 | 68 | |||
| * | Innox Advanced Materials Co. Ltd. | 2,734 | 67 | |||
| *,1 | Ananti Inc. | 10,967 | 66 | |||
| ENF Technology Co. Ltd. | 1,626 | 66 | ||||
| SOOP Co. Ltd. | 1,312 | 65 | ||||
| * | Synopex Inc. | 13,774 | 65 | |||
| Dongwon Industries Co. Ltd. | 2,151 | 64 | ||||
| *,1 | Cosmochemical Co. Ltd. | 5,429 | 64 | |||
| Hyundai Green Food | 5,779 | 64 | ||||
| Korea Electric Terminal Co. Ltd. | 1,115 | 63 | ||||
| Daesang Corp. | 3,998 | 63 | ||||
| * | DL Holdings Co. Ltd. | 1,720 | 62 | |||
| Wemade Co. Ltd. | 3,407 | 62 | ||||
| * | Studio Dragon Corp. | 2,001 | 62 | |||
| * | Foosung Co. Ltd. | 10,740 | 60 | |||
| * | Shinsung E&G Co. Ltd. | 35,225 | 60 | |||
| 1 | Samwha Capacitor Co. Ltd. | 1,578 | 59 | |||
| Daewoong Co. Ltd. | 3,023 | 57 | ||||
| 1 | KH Vatec Co. Ltd. | 4,675 | 57 | |||
| i-SENS Inc. | 3,403 | 56 | ||||
| * | Hanwha General Insurance Co. Ltd. | 10,383 | 55 | |||
| DongKook Pharmaceutical Co. Ltd. | 3,882 | 55 | ||||
| Solid Inc. | 9,403 | 55 | ||||
| Binggrae Co. Ltd. | 947 | 54 | ||||
| * | Cafe24 Corp. | 2,357 | 54 | |||
| *,1 | Danal Co. Ltd. | 9,030 | 53 | |||
| SK Networks Co. Ltd. | 12,913 | 52 | ||||
| * | Eubiologics Co. Ltd. | 5,035 | 52 | |||
| * | JW Pharmaceutical Corp. | 2,012 | 51 | |||
| *,1 | Binex Co. Ltd. | 4,638 | 51 | |||
| * | Orion Holdings Corp. | 3,054 | 51 | |||
| * | SHIFT UP Corp. | 2,285 | 51 | |||
| Ahnlab Inc. | 1,106 | 50 | ||||
| NHN KCP Corp. | 3,346 | 50 | ||||
| Sebang Global Battery Co. Ltd. | 1,015 | 49 | ||||
| * | Sungeel Hitech Co. Ltd. | 1,120 | 49 | |||
| * | OCI Co. Ltd. | 809 | 49 | |||
| GS P&L Co. Ltd. | 1,365 | 49 | ||||
| InBody Co. Ltd. | 2,135 | 48 | ||||
| * | Taekwang Industrial Co. Ltd. | 48 | 48 | |||
| * | HLB Life Science Co. Ltd. | 17,868 | 48 | |||
| Hancom Inc. | 2,992 | 47 | ||||
| BH Co. Ltd. | 3,513 | 47 | ||||
| *,1 | VT Co. Ltd. | 3,884 | 47 | |||
| KC Tech Co. Ltd. | 1,333 | 46 | ||||
| * | CJ CGV Co. Ltd. | 11,775 | 45 | |||
| Hanil Cement Co. Ltd. | 3,553 | 45 | ||||
| * | SD Biosensor Inc. | 7,679 | 45 | |||
| * | DI Dong Il Corp. | 2,705 | 45 | |||
| * | Samyang Biopharmaceuticals Corp. | 666 | 45 | |||
| * | Green Cross Holdings Corp. | 4,002 | 44 | |||
| Eugene Investment & Securities Co. Ltd. | 11,914 | 44 | ||||
| Huons Global Co. Ltd. | 996 | 44 | ||||
| * | Advanced Process Systems Corp. | 2,691 | 43 | |||
| 1 | Posco M-Tech Co. Ltd. | 3,139 | 43 | |||
| Sungwoo Hitech Co. Ltd. | 6,733 | 42 | ||||
| * | Komipharm International Co. Ltd. | 6,788 | 42 | |||
| * | Young Poong Corp. | 937 | 42 | |||
| Kwang Dong Pharmaceutical Co. Ltd. | 6,101 | 40 | ||||
| * | IS Dongseo Co. Ltd. | 1,835 | 40 | |||
| *,1 | Hanssem Co. Ltd. | 1,158 | 40 | |||
| NICE Holdings Co. Ltd. | 3,866 | 40 | ||||
| * | Daea TI Co. Ltd. | 12,052 | 39 | |||
| Dong-A ST Co. Ltd. | 1,055 | 38 | ||||
| * | UniTest Inc. | 2,757 | 38 | |||
77
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Dong-A Socio Holdings Co. Ltd. | 460 | 37 | ||||
| Bukwang Pharmaceutical Co. Ltd. | 9,336 | 36 | ||||
| Youlchon Chemical Co. Ltd. | 1,971 | 36 | ||||
| LF Corp. | 2,298 | 36 | ||||
| * | Tongyang Life Insurance Co. Ltd. | 6,926 | 36 | |||
| HL Holdings Corp. | 1,004 | 35 | ||||
| * | Dentium Co. Ltd. | 1,010 | 35 | |||
| Humedix Co. Ltd. | 1,194 | 35 | ||||
| Solus Advanced Materials Co. Ltd. | 5,686 | 35 | ||||
| Dongkuk Steel Mill Co. Ltd. | 4,869 | 35 | ||||
| * | KISWIRE Ltd. | 2,100 | 34 | |||
| * | Hanjin Logistics Corp. | 2,330 | 34 | |||
| * | Neowiz | 1,855 | 34 | |||
| Webzen Inc. | 3,628 | 33 | ||||
| Samyang Holdings Corp. | 627 | 33 | ||||
| * | Com2uSCorp | 1,316 | 33 | |||
| *,1 | BNC Korea Co. Ltd. | 10,353 | 33 | |||
| Myoung Shin Industrial Co. Ltd. | 4,181 | 33 | ||||
| Vieworks Co. Ltd. | 1,793 | 32 | ||||
| * | Unid Co. Ltd. | 564 | 32 | |||
| Soulbrain Holdings Co. Ltd. | 794 | 31 | ||||
| *,1 | Nexon Games Co. Ltd. | 3,789 | 31 | |||
| * | PI Advanced Materials Co. Ltd. | 2,086 | 29 | |||
| * | Bioneer Corp. | 3,245 | 29 | |||
| *,1 | TCC Steel | 2,666 | 29 | |||
| * | CMG Pharmaceutical Co. Ltd. | 20,621 | 28 | |||
| Hyundai Home Shopping Network Corp. | 457 | 27 | ||||
| INTOPS Co. Ltd. | 1,889 | 26 | ||||
| Lotte Wellfood Co. Ltd. | 296 | 26 | ||||
| Boryung | 3,724 | 26 | ||||
| * | HLB Therapeutics Co. Ltd. | 12,818 | 25 | |||
| * | W-Scope Chungju Plant Co. Ltd. | 3,442 | 24 | |||
| Nexen Tire Corp. | 3,733 | 23 | ||||
| Huons Co. Ltd. | 1,104 | 22 | ||||
| HS Industries Co. Ltd. | 8,010 | 20 | ||||
| * | Namyang Dairy Products Co. Ltd. | 563 | 20 | |||
| * | Modetour Network Inc. | 2,314 | 20 | |||
| * | Chunbo Co. Ltd. | 542 | 20 | |||
| * | Genexine Inc. | 6,305 | 19 | |||
| * | GOLFZON Co. Ltd. | 496 | 19 | |||
| * | GC Cell Corp. | 1,068 | 19 | |||
| * | Vaxcell-Bio Therapeutics Co. Ltd. | 2,998 | 19 | |||
| *,2 | Kum Yang Co. Ltd. | 2,705 | 19 | |||
| * | Jeju Air Co. Ltd. | 4,408 | 19 | |||
| Hansae Co. Ltd. | 1,819 | 18 | ||||
| Zinus Inc. | 2,107 | 18 | ||||
| *,1 | Joongang Advanced Materials Co. Ltd. | 12,006 | 18 | |||
| * | DIO Corp. | 1,349 | 17 | |||
| *,2 | NKMax Co. Ltd. | 2,034 | 14 | |||
| * | LX Hausys Ltd. | 610 | 13 | |||
| Korea United Pharm Inc. | 915 | 13 | ||||
| * | Humasis Co. Ltd. | 21,564 | 12 | |||
| Songwon Industrial Co. Ltd. | 1,680 | 11 | ||||
| * | Amicogen Inc. | 9,708 | 9 | |||
| * | GeneOne Life Science Inc. | 10,592 | 9 | |||
| 2 | Ilyang Pharmaceutical Co. Ltd. | 837 | 7 | |||
| *,2 | Hyosung Chemical Corp. | 217 | 6 | |||
| Handsome Co. Ltd. | 290 | 5 | ||||
| 382,057 | ||||||
| Spain (2.0%) | ||||||
| Banco Santander SA | 2,958,230 | 37,309 | ||||
| Banco Bilbao Vizcaya Argentaria SA | 1,131,839 | 26,215 | ||||
| Industria de Diseno Textil SA | 220,604 | 14,731 | ||||
| CaixaBank SA | 716,187 | 8,827 | ||||
| Amadeus IT Group SA | 88,503 | 5,474 | ||||
| 3 | Aena SME SA | 139,330 | 4,391 | |||
| 3 | Cellnex Telecom SA | 112,991 | 4,294 | |||
| Banco de Sabadell SA | 1,002,655 | 3,775 | ||||
| Telefonica SA | 813,143 | 3,690 | ||||
78
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Bankinter SA | 125,005 | 2,074 | ||||
| Acciona SA | 5,036 | 1,462 | ||||
| Redeia Corp. SA | 78,200 | 1,454 | ||||
| Merlin Properties Socimi SA | 75,596 | 1,335 | ||||
| Mapfre SA | 182,490 | 848 | ||||
| 3 | Unicaja Banco SA | 239,352 | 758 | |||
| Acerinox SA | 47,336 | 753 | ||||
| Viscofan SA | 8,348 | 586 | ||||
| Puig Brands SA Class B | 28,753 | 555 | ||||
| Sacyr SA | 102,697 | 550 | ||||
| Fluidra SA | 19,582 | 525 | ||||
| Colonial SFL Socimi SA | 74,343 | 499 | ||||
| Vidrala SA | 4,250 | 411 | ||||
| CIE Automotive SA | 10,250 | 384 | ||||
| Laboratorios Farmaceuticos Rovi SA | 3,652 | 365 | ||||
| * | Solaria Energia y Medio Ambiente SA | 13,810 | 358 | |||
| Construcciones y Auxiliar de Ferrocarriles SA | 3,643 | 254 | ||||
| * | Grenergy Renovables SA | 1,787 | 232 | |||
| 3 | Neinor Homes SA | 9,993 | 225 | |||
| Almirall SA | 14,521 | 221 | ||||
| Pharma Mar SA | 2,269 | 215 | ||||
| Corp. ACCIONA Energias Renovables SA | 7,927 | 206 | ||||
| Elecnor SA | 6,053 | 206 | ||||
| Ebro Foods SA | 8,349 | 191 | ||||
| Linea Directa Aseguradora SA Cia de Seguros y Reaseguros | 120,320 | 180 | ||||
| Melia Hotels International SA | 17,498 | 172 | ||||
| * | HBX Group International plc | 16,021 | 137 | |||
| * | Distribuidora Internacional de Alimentacion SA | 2,874 | 130 | |||
| Atresmedia Corp. de Medios de Comunicacion SA | 20,070 | 123 | ||||
| 3 | Gestamp Automocion SA | 24,018 | 90 | |||
| Prosegur Cia de Seguridad SA | 20,178 | 69 | ||||
| 3 | Global Dominion Access SA | 13,399 | 50 | |||
| 3 | Prosegur Cash SA | 59,861 | 45 | |||
| 124,369 | ||||||
| Sweden (2.6%) | ||||||
| Investor AB Class B | 343,532 | 14,329 | ||||
| Volvo AB Class B | 300,009 | 11,673 | ||||
| Atlas Copco AB Class A | 492,856 | 10,603 | ||||
| Sandvik AB | 206,449 | 9,098 | ||||
| Assa Abloy AB Class B | 193,564 | 8,239 | ||||
| Telefonaktiebolaget LM Ericsson Class B | 545,483 | 6,306 | ||||
| Skandinaviska Enskilda Banken AB Class A | 291,710 | 6,202 | ||||
| Swedbank AB Class A | 159,672 | 6,133 | ||||
| Atlas Copco AB Class B | 311,991 | 5,849 | ||||
| Svenska Handelsbanken AB Class A | 281,942 | 4,507 | ||||
| * | Boliden AB | 55,952 | 4,435 | |||
| Epiroc AB Class A | 143,996 | 4,326 | ||||
| Investor AB Class A | 102,432 | 4,237 | ||||
| Essity AB Class B | 115,968 | 3,684 | ||||
| EQT AB | 107,829 | 3,323 | ||||
| Industrivarden AB Class A | 47,164 | 2,677 | ||||
| Telia Co. AB | 460,029 | 2,362 | ||||
| Tele2 AB Class B | 111,835 | 2,360 | ||||
| H & M Hennes & Mauritz AB Class B | 98,612 | 2,102 | ||||
| Skanska AB Class B | 67,347 | 2,065 | ||||
| Volvo AB Class A | 49,765 | 1,937 | ||||
| SKF AB Class B | 67,558 | 1,931 | ||||
| Trelleborg AB Class B | 42,261 | 1,852 | ||||
| * | Swedish Orphan Biovitrum AB | 39,543 | 1,728 | |||
| AddTech AB Class B | 46,265 | 1,710 | ||||
| Securitas AB Class B | 94,492 | 1,682 | ||||
| Svenska Cellulosa AB SCA Class B | 120,335 | 1,634 | ||||
| Beijer Ref AB Class B | 96,506 | 1,506 | ||||
| Epiroc AB Class B | 53,805 | 1,399 | ||||
| Nordnet AB publ | 40,669 | 1,284 | ||||
| Nibe Industrier AB Class B | 298,597 | 1,220 | ||||
| SSAB AB Class B | 121,816 | 1,076 | ||||
| * | Fastighets AB Balder Class B | 142,107 | 1,068 | |||
| AAK AB | 37,496 | 1,026 | ||||
79
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Lagercrantz Group AB Class B | 39,834 | 972 | ||||
| Getinge AB Class B | 43,104 | 965 | ||||
| Avanza Bank Holding AB | 26,461 | 964 | ||||
| L E Lundbergforetagen AB Class B | 14,525 | 951 | ||||
| Castellum AB | 70,974 | 944 | ||||
| Sagax AB Class B | 41,471 | 878 | ||||
| Mycronic AB | 32,794 | 743 | ||||
| Axfood AB | 20,296 | 740 | ||||
| Loomis AB Class B | 13,579 | 686 | ||||
| Investment AB Latour Class B | 26,702 | 679 | ||||
| Holmen AB Class B | 16,824 | 662 | ||||
| Sectra AB Class B | 28,152 | 603 | ||||
| 3 | Thule Group AB | 23,310 | 602 | |||
| Wihlborgs Fastigheter AB | 54,325 | 575 | ||||
| 3 | Munters Group AB | 27,134 | 567 | |||
| Pandox AB Class B | 21,351 | 478 | ||||
| Catena AB | 8,406 | 463 | ||||
| 3 | Bravida Holding AB | 38,825 | 451 | |||
| Elekta AB Class B | 67,116 | 430 | ||||
| SSAB AB Class A | 44,350 | 396 | ||||
| * | Camurus AB | 7,087 | 395 | |||
| * | Electrolux AB Class B | 45,840 | 385 | |||
| Billerud Aktiebolag | 40,232 | 367 | ||||
| Fabege AB | 39,115 | 364 | ||||
| *,1 | Volvo Car AB Class B | 131,549 | 359 | |||
| * | Asmodee Group AB Class B | 28,063 | 343 | |||
| AddLife AB Class B | 19,916 | 340 | ||||
| Peab AB Class B | 28,585 | 336 | ||||
| Granges AB | 18,992 | 336 | ||||
| NCC AB Class B | 13,690 | 334 | ||||
| Wallenstam AB Class B | 65,558 | 332 | ||||
| Bufab AB | 24,725 | 319 | ||||
| 3 | Scandic Hotels Group AB | 32,291 | 306 | |||
| * | Kinnevik AB Class B | 43,398 | 305 | |||
| *,3 | BioArctic AB Class B | 8,830 | 302 | |||
| Husqvarna AB Class B | 60,820 | 292 | ||||
| Industrivarden AB Class C | 5,151 | 291 | ||||
| Cibus Nordic Real Estate AB publ | 17,173 | 291 | ||||
| *,3 | Sinch AB | 112,820 | 285 | |||
| 3 | Attendo AB | 23,976 | 277 | |||
| * | HMS Networks AB | 5,682 | 268 | |||
| 1 | Svenska Handelsbanken AB Class B | 9,954 | 267 | |||
| Clas Ohlson AB Class B | 6,430 | 266 | ||||
| Electrolux Professional AB Class B | 40,253 | 264 | ||||
| Medicover AB Class B | 10,917 | 263 | ||||
| Skandinaviska Enskilda Banken AB Class C | 11,921 | 258 | ||||
| 3 | Dometic Group AB | 62,063 | 258 | |||
| Storskogen Group AB Class B | 250,659 | 255 | ||||
| Lindab International AB | 13,180 | 253 | ||||
| Hufvudstaden AB Class A | 16,486 | 238 | ||||
| Nyfosa AB | 29,014 | 238 | ||||
| AQ Group AB | 10,807 | 226 | ||||
| Bure Equity AB | 9,365 | 221 | ||||
| Bilia AB Class A | 14,170 | 217 | ||||
| *,3 | BoneSupport Holding AB | 9,693 | 217 | |||
| Cloetta AB Class B | 35,080 | 204 | ||||
| Hemnet Group AB | 15,099 | 195 | ||||
| Nolato AB Class B | 33,096 | 191 | ||||
| * | NCAB Group AB | 30,830 | 187 | |||
| NP3 Fastigheter AB | 6,092 | 183 | ||||
| JM AB | 11,745 | 174 | ||||
| Instalco AB | 44,591 | 173 | ||||
| * | Modern Times Group MTG AB Class B | 17,523 | 172 | |||
| Addnode Group AB Class B | 21,789 | 168 | ||||
| Vitec Software Group AB Class B | 6,310 | 167 | ||||
| Ratos AB Class B | 39,366 | 163 | ||||
| Sagax AB | 40,174 | 156 | ||||
| * | Embracer Group AB Class B | 26,120 | 153 | |||
| Systemair AB | 16,044 | 150 | ||||
| Vitrolife AB | 14,082 | 149 | ||||
80
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Sdiptech AB Class B | 6,789 | 146 | |||
| Atrium Ljungberg AB Class B | 35,610 | 139 | ||||
| MIPS AB | 4,807 | 135 | ||||
| Dios Fastigheter AB | 16,255 | 126 | ||||
| * | Intea Fastigheter AB Class B | 14,863 | 126 | |||
| SkiStar AB | 6,073 | 118 | ||||
| * | Vimian Group AB | 39,520 | 117 | |||
| NCC AB Class A | 4,523 | 110 | ||||
| *,3 | Boozt AB | 10,842 | 110 | |||
| Arjo AB Class B | 34,510 | 103 | ||||
| * | Xvivo Perfusion AB | 4,538 | 94 | |||
| * | Hexatronic Group AB | 30,884 | 94 | |||
| Platzer Fastigheter Holding AB Class B | 9,812 | 87 | ||||
| * | Samhallsbyggnadsbolaget i Norden AB B Shares | 184,210 | 80 | |||
| Investment AB Oresund | 4,956 | 77 | ||||
| Troax Group AB | 6,748 | 75 | ||||
| * | Norion Bank AB | 11,023 | 70 | |||
| Truecaller AB Class B | 49,201 | 60 | ||||
| Corem Property Group AB Class B | 125,246 | 53 | ||||
| Volati AB | 5,507 | 52 | ||||
| MEKO AB | 6,736 | 49 | ||||
| Fagerhult Group AB | 10,522 | 34 | ||||
| * | Samhallsbyggnadsbolaget i Norden AB | 20,190 | 20 | |||
| 164,240 | ||||||
| Switzerland (6.1%) | ||||||
| Roche Holding AG (XVTX) | 140,178 | 66,711 | ||||
| Novartis AG (Registered) | 382,718 | 64,351 | ||||
| Nestle SA (Registered) | 504,147 | 55,083 | ||||
| UBS Group AG (Registered) | 636,914 | 26,464 | ||||
| Zurich Insurance Group AG | 28,238 | 21,301 | ||||
| Swiss Re AG | 58,723 | 10,338 | ||||
| Lonza Group AG (Registered) | 13,668 | 9,507 | ||||
| Alcon AG | 98,457 | 8,535 | ||||
| Sandoz Group AG | 82,433 | 7,262 | ||||
| Swiss Life Holding AG (Registered) | 5,646 | 6,466 | ||||
| Galderma Group AG | 34,188 | 6,452 | ||||
| * | Amrize Ltd. | 99,548 | 6,386 | |||
| Givaudan SA (Registered) | 1,524 | 6,121 | ||||
| Geberit AG (Registered) | 6,501 | 5,466 | ||||
| Partners Group Holding AG | 4,288 | 4,765 | ||||
| Swisscom AG (Registered) | 5,044 | 4,731 | ||||
| Helvetia Baloise Holding AG | 16,099 | 4,181 | ||||
| 3 | VAT Group AG | 5,421 | 3,823 | |||
| Chocoladefabriken Lindt & Spruengli AG | 225 | 3,715 | ||||
| Julius Baer Group Ltd. | 41,178 | 3,501 | ||||
| Schindler Holding AG | 8,800 | 3,350 | ||||
| Chocoladefabriken Lindt & Spruengli AG (Registered) | 19 | 3,130 | ||||
| Roche Holding AG (XSWX) | 5,905 | 2,927 | ||||
| Swiss Prime Site AG (Registered) | 14,818 | 2,828 | ||||
| Logitech International SA (Registered) | 29,944 | 2,747 | ||||
| Straumann Holding AG (Registered) | 21,534 | 2,578 | ||||
| Sonova Holding AG (Registered) | 9,813 | 2,558 | ||||
| Kuehne + Nagel International AG (Registered) | 9,260 | 2,155 | ||||
| Belimo Holding AG (Registered) | 2,011 | 2,004 | ||||
| PSP Swiss Property AG (Registered) | 8,695 | 1,873 | ||||
| Accelleron Industries AG | 19,240 | 1,815 | ||||
| 1 | Barry Callebaut AG (Registered) | 701 | 1,318 | |||
| Flughafen Zurich AG (Registered) | 3,678 | 1,260 | ||||
| Swissquote Group Holding SA (Registered) | 2,304 | 1,229 | ||||
| 3 | Galenica AG | 9,573 | 1,195 | |||
| Schindler Holding AG (Registered) | 3,247 | 1,184 | ||||
| SIG Group AG | 68,887 | 1,121 | ||||
| EMS-Chemie Holding AG (Registered) | 1,330 | 1,103 | ||||
| Swatch Group AG (Registered) | 21,923 | 1,091 | ||||
| Temenos AG (Registered) | 11,194 | 1,038 | ||||
| Georg Fischer AG (Registered) | 16,272 | 1,028 | ||||
| * | Siegfried Holding AG (Registered) | 7,841 | 872 | |||
| Allreal Holding AG (Registered) | 2,813 | 862 | ||||
| Banque Cantonale Vaudoise (Registered) | 5,472 | 837 | ||||
81
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Mobimo Holding AG (Registered) | 1,535 | 799 | ||||
| Swatch Group AG | 3,074 | 786 | ||||
| Huber + Suhner AG (Registered) | 3,240 | 779 | ||||
| Cembra Money Bank AG | 5,898 | 763 | ||||
| Bucher Industries AG (Registered) | 1,485 | 738 | ||||
| EFG International AG | 29,819 | 731 | ||||
| Valiant Holding AG (Registered) | 3,057 | 662 | ||||
| Inficon Holding AG (Registered) | 3,831 | 592 | ||||
| DKSH Holding AG | 6,601 | 533 | ||||
| VZ Holding AG | 2,695 | 507 | ||||
| SFS Group AG | 3,163 | 502 | ||||
| Sunrise Communications AG Class A | 7,740 | 493 | ||||
| Tecan Group AG (Registered) | 2,731 | 484 | ||||
| Luzerner Kantonalbank AG (Registered) | 3,472 | 468 | ||||
| Kardex Holding AG (Registered) | 1,321 | 447 | ||||
| dormakaba Holding AG | 5,932 | 443 | ||||
| Landis+Gyr Group AG | 6,267 | 428 | ||||
| St. Galler Kantonalbank AG (Registered) | 503 | 418 | ||||
| Vontobel Holding AG (Registered) | 4,438 | 405 | ||||
| Burkhalter Holding AG | 1,840 | 389 | ||||
| Emmi AG (Registered) | 366 | 386 | ||||
| Bachem Holding AG | 4,735 | 365 | ||||
| * | Aryzta AG | 4,805 | 346 | |||
| Daetwyler Holding AG | 1,424 | 310 | ||||
| ALSO Holding AG (Registered) | 1,388 | 296 | ||||
| Interroll Holding AG (Registered) | 117 | 294 | ||||
| * | Dottikon Es Holding AG (Registered) | 624 | 292 | |||
| Softwareone Holding AG | 32,634 | 287 | ||||
| Ypsomed Holding AG (Registered) | 745 | 258 | ||||
| Stadler Rail AG | 9,636 | 256 | ||||
| Implenia AG (Registered) | 2,664 | 250 | ||||
| 3 | Medacta Group SA | 1,188 | 245 | |||
| COSMO Pharmaceuticals NV | 1,597 | 235 | ||||
| Bossard Holding AG (Registered) Class A | 1,002 | 215 | ||||
| Forbo Holding AG (Registered) | 183 | 214 | ||||
| * | ams-OSRAM AG | 19,181 | 214 | |||
| SKAN Group AG | 2,910 | 197 | ||||
| Zehnder Group AG | 1,756 | 186 | ||||
| OC Oerlikon Corp. AG Pfaeffikon (Registered) | 33,613 | 184 | ||||
| Intershop Holding AG | 758 | 168 | ||||
| * | Basilea Pharmaceutica AG Allschwil (Registered) | 2,183 | 157 | |||
| *,3 | Sensirion Holding AG | 2,034 | 148 | |||
| Cie Financiere Tradition SA | 416 | 146 | ||||
| APG SGA SA | 453 | 125 | ||||
| *,3 | Medartis Holding AG | 1,003 | 120 | |||
| Autoneum Holding AG | 615 | 102 | ||||
| *,3 | PolyPeptide Group AG | 3,069 | 102 | |||
| Bell Food Group AG (Registered) | 360 | 101 | ||||
| TX Group AG | 424 | 89 | ||||
| Bystronic AG | 253 | 84 | ||||
| Vetropack Holding AG (Registered) Class A | 2,711 | 80 | ||||
| * | Komax Holding AG (Registered) | 751 | 66 | |||
| Arbonia AG | 10,185 | 65 | ||||
| 3 | Medmix AG | 4,699 | 58 | |||
| * | u-blox Holding AG | 271 | 48 | |||
| Schweiter Technologies AG | 137 | 46 | ||||
| VP Bank AG Class A | 345 | 39 | ||||
| * | BAJAJ Mobility AG | 1,807 | 36 | |||
| * | LEM Holding SA (Registered) | 79 | 33 | |||
| 385,472 | ||||||
| Taiwan (9.1%) | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4,848,311 | 302,526 | ||||
| Hon Hai Precision Industry Co. Ltd. | 2,432,424 | 18,605 | ||||
| MediaTek Inc. | 293,319 | 18,068 | ||||
| Delta Electronics Inc. | 383,171 | 17,279 | ||||
| ASE Technology Holding Co. Ltd. | 650,290 | 7,836 | ||||
| CTBC Financial Holding Co. Ltd. | 3,513,171 | 6,249 | ||||
| Fubon Financial Holding Co. Ltd. | 1,664,057 | 4,991 | ||||
| 1 | United Microelectronics Corp. | 2,312,346 | 4,784 | |||
82
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Quanta Computer Inc. | 520,558 | 4,777 | ||||
| Cathay Financial Holding Co. Ltd. | 1,869,948 | 4,742 | ||||
| Accton Technology Corp. | 99,625 | 4,384 | ||||
| Elite Material Co. Ltd. | 55,675 | 4,264 | ||||
| Unimicron Technology Corp. | 263,417 | 3,985 | ||||
| TS Financial Holding Co. Ltd. | 4,368,951 | 3,557 | ||||
| Asia Vital Components Co. Ltd. | 63,703 | 3,503 | ||||
| E.Sun Financial Holding Co. Ltd. | 3,022,092 | 3,389 | ||||
| Yuanta Financial Holding Co. Ltd. | 2,171,891 | 3,385 | ||||
| Chunghwa Telecom Co. Ltd. | 752,460 | 3,238 | ||||
| Chroma ATE Inc. | 73,589 | 3,198 | ||||
| Mega Financial Holding Co. Ltd. | 2,349,688 | 3,023 | ||||
| Yageo Corp. | 309,560 | 2,900 | ||||
| Nan Ya Plastics Corp. | 976,329 | 2,833 | ||||
| 1 | Wiwynn Corp. | 20,464 | 2,572 | |||
| 1 | Wistron Corp. | 598,391 | 2,556 | |||
| SinoPac Financial Holdings Co. Ltd. | 2,347,646 | 2,476 | ||||
| * | Winbond Electronics Corp. | 611,289 | 2,326 | |||
| King Yuan Electronics Co. Ltd. | 222,641 | 2,291 | ||||
| Asustek Computer Inc. | 133,798 | 2,261 | ||||
| Uni-President Enterprises Corp. | 973,682 | 2,251 | ||||
| Hua Nan Financial Holdings Co. Ltd. | 1,845,680 | 2,241 | ||||
| KGI Financial Holding Co. Ltd. | 3,165,271 | 2,212 | ||||
| Lite-On Technology Corp. | 385,033 | 2,102 | ||||
| First Financial Holding Co. Ltd. | 2,150,367 | 2,050 | ||||
| ASPEED Technology Inc. | 6,500 | 2,006 | ||||
| * | Nanya Technology Corp. | 221,000 | 1,962 | |||
| Phison Electronics Corp. | 33,000 | 1,950 | ||||
| Alchip Technologies Ltd. | 16,308 | 1,785 | ||||
| Gold Circuit Electronics Ltd. | 65,500 | 1,701 | ||||
| 1 | Jentech Precision Industrial Co. Ltd. | 16,591 | 1,618 | |||
| Largan Precision Co. Ltd. | 19,542 | 1,566 | ||||
| Taiwan Cooperative Financial Holding Co. Ltd. | 2,044,737 | 1,561 | ||||
| 1 | Bizlink Holding Inc. | 35,320 | 1,561 | |||
| * | Powerchip Semiconductor Manufacturing Corp. | 645,730 | 1,543 | |||
| China Steel Corp. | 2,252,008 | 1,490 | ||||
| MPI Corp. | 16,000 | 1,481 | ||||
| Realtek Semiconductor Corp. | 95,393 | 1,460 | ||||
| Global Unichip Corp. | 16,471 | 1,442 | ||||
| 1 | Novatek Microelectronics Corp. | 114,446 | 1,429 | |||
| 1 | Formosa Plastics Corp. | 829,473 | 1,361 | |||
| 1 | Evergreen Marine Corp. Taiwan Ltd. | 215,591 | 1,353 | |||
| PharmaEssentia Corp. | 57,847 | 1,336 | ||||
| Compeq Manufacturing Co. Ltd. | 198,785 | 1,285 | ||||
| 1 | Innolux Corp. | 1,474,349 | 1,251 | |||
| * | Macronix International Co. Ltd. | 358,000 | 1,225 | |||
| King Slide Works Co. Ltd. | 11,367 | 1,223 | ||||
| United Integrated Services Co. Ltd. | 33,000 | 1,173 | ||||
| Tripod Technology Corp. | 90,700 | 1,120 | ||||
| Powertech Technology Inc. | 136,666 | 1,110 | ||||
| Formosa Chemicals & Fibre Corp. | 685,701 | 1,109 | ||||
| Airtac International Group | 28,662 | 1,097 | ||||
| 1 | eMemory Technology Inc. | 13,000 | 1,034 | |||
| Chang Hwa Commercial Bank Ltd. | 1,484,045 | 1,025 | ||||
| Chailease Holding Co. Ltd. | 308,339 | 1,021 | ||||
| Far EasTone Telecommunications Co. Ltd. | 346,308 | 1,018 | ||||
| Hotai Motor Co. Ltd. | 54,344 | 1,015 | ||||
| Advantech Co. Ltd. | 91,788 | 973 | ||||
| E Ink Holdings Inc. | 163,728 | 969 | ||||
| 1 | Zhen Ding Technology Holding Ltd. | 145,667 | 963 | |||
| Taiwan Mobile Co. Ltd. | 279,896 | 962 | ||||
| Fortune Electric Co. Ltd. | 28,290 | 954 | ||||
| Shanghai Commercial & Savings Bank Ltd. | 732,276 | 935 | ||||
| Lotes Co. Ltd. | 15,840 | 890 | ||||
| 1 | Gigabyte Technology Co. Ltd. | 116,667 | 884 | |||
| Pegatron Corp. | 373,794 | 875 | ||||
| Taiwan Union Technology Corp. | 51,000 | 873 | ||||
| 1 | Compal Electronics Inc. | 865,401 | 868 | |||
| Vanguard International Semiconductor Corp. | 201,544 | 854 | ||||
| WinWay Technology Co. Ltd. | 5,000 | 804 | ||||
83
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| WT Microelectronics Co. Ltd. | 137,205 | 800 | ||||
| President Chain Store Corp. | 107,090 | 767 | ||||
| 1 | Inventec Corp. | 521,759 | 764 | |||
| Taiwan Business Bank | 1,431,263 | 750 | ||||
| 1 | Walsin Lihwa Corp. | 611,561 | 711 | |||
| Nan Ya Printed Circuit Board Corp. | 41,000 | 711 | ||||
| 1 | Teco Electric & Machinery Co. Ltd. | 271,000 | 708 | |||
| 1 | Globalwafers Co. Ltd. | 49,000 | 706 | |||
| Eva Airways Corp. | 564,846 | 684 | ||||
| Win Semiconductors Corp. | 64,000 | 678 | ||||
| EZconn Corp. | 10,000 | 674 | ||||
| Universal Microwave Technology Inc. | 13,000 | 657 | ||||
| WPG Holdings Ltd. | 289,678 | 646 | ||||
| 1 | AUO Corp. | 1,208,703 | 636 | |||
| Catcher Technology Co. Ltd. | 100,031 | 611 | ||||
| L&K Engineering Co. Ltd. | 32,744 | 605 | ||||
| 1 | Silergy Corp. | 67,621 | 601 | |||
| LandMark Optoelectronics Corp. | 15,000 | 584 | ||||
| Kinsus Interconnect Technology Corp. | 58,000 | 573 | ||||
| 1 | Wan Hai Lines Ltd. | 233,260 | 570 | |||
| Far Eastern New Century Corp. | 608,312 | 560 | ||||
| Synnex Technology International Corp. | 242,175 | 556 | ||||
| 1 | Eclat Textile Co. Ltd. | 40,892 | 551 | |||
| Fositek Corp. | 10,000 | 535 | ||||
| Taichung Commercial Bank Co. Ltd. | 754,538 | 509 | ||||
| Asia Cement Corp. | 437,000 | 500 | ||||
| Chicony Electronics Co. Ltd. | 124,000 | 495 | ||||
| ADATA Technology Co. Ltd. | 54,054 | 484 | ||||
| 1 | Acer Inc. | 542,961 | 474 | |||
| Makalot Industrial Co. Ltd. | 46,341 | 473 | ||||
| Sigurd Microelectronics Corp. | 99,000 | 472 | ||||
| Chunghwa Precision Test Tech Co. Ltd. | 4,000 | 471 | ||||
| Chung-Hsin Electric & Machinery Manufacturing Corp. | 81,000 | 453 | ||||
| China Airlines Ltd. | 677,000 | 452 | ||||
| 1 | Nien Made Enterprise Co. Ltd. | 35,000 | 448 | |||
| Kaori Heat Treatment Co. Ltd. | 16,000 | 440 | ||||
| AURAS Technology Co. Ltd. | 12,000 | 433 | ||||
| Acter Group Corp. Ltd. | 19,000 | 433 | ||||
| TA Chen Stainless Pipe | 367,032 | 432 | ||||
| Advanced Echem Materials Co. Ltd. | 15,000 | 430 | ||||
| Pou Chen Corp. | 433,085 | 429 | ||||
| Foxconn Technology Co. Ltd. | 216,368 | 408 | ||||
| Topco Scientific Co. Ltd. | 36,813 | 407 | ||||
| 1 | Mitac Holdings Corp. | 160,872 | 404 | |||
| Cheng Shin Rubber Industry Co. Ltd. | 396,018 | 397 | ||||
| Innodisk Corp. | 16,141 | 397 | ||||
| Ardentec Corp. | 79,000 | 395 | ||||
| Hiwin Technologies Corp. | 54,504 | 395 | ||||
| WNC Corp. | 65,791 | 390 | ||||
| Eternal Materials Co. Ltd. | 176,495 | 386 | ||||
| Micro-Star International Co. Ltd. | 127,521 | 381 | ||||
| Co-Tech Development Corp. | 41,000 | 372 | ||||
| Simplo Technology Co. Ltd. | 35,000 | 371 | ||||
| Voltronic Power Technology Corp. | 12,505 | 368 | ||||
| Taiwan High Speed Rail Corp. | 419,000 | 363 | ||||
| Sino-American Silicon Products Inc. | 97,000 | 362 | ||||
| * | Taiwan Glass Industry Corp. | 187,000 | 360 | |||
| Shihlin Electric & Engineering Corp. | 46,000 | 344 | ||||
| Sinbon Electronics Co. Ltd. | 43,362 | 335 | ||||
| 1 | LuxNet Corp. | 25,000 | 330 | |||
| *,1 | Fulltech Fiber Glass Corp. | 93,000 | 322 | |||
| Chenbro Micom Co. Ltd. | 11,000 | 317 | ||||
| Kinik Co. | 19,000 | 314 | ||||
| Feng TAY Enterprise Co. Ltd. | 104,728 | 313 | ||||
| Radiant Opto-Electronics Corp. | 80,586 | 313 | ||||
| Capital Securities Corp. | 303,000 | 309 | ||||
| Highwealth Construction Corp. | 252,870 | 306 | ||||
| Walsin Technology Corp. | 62,000 | 305 | ||||
| * | FOCI Fiber Optic Communications Inc. | 16,085 | 302 | |||
| Dynapack International Technology Corp. | 30,000 | 292 | ||||
84
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| ChipMOS Technologies Inc. | 130,000 | 292 | ||||
| ASMedia Technology Inc. | 6,866 | 285 | ||||
| IBF Financial Holdings Co. Ltd. | 500,160 | 271 | ||||
| Chipbond Technology Corp. | 149,000 | 268 | ||||
| Primax Electronics Ltd. | 103,000 | 268 | ||||
| Ruentex Development Co. Ltd. | 281,430 | 265 | ||||
| Lien Hwa Industrial Holdings Corp. | 182,596 | 262 | ||||
| Tatung Co. Ltd. | 218,987 | 261 | ||||
| AP Memory Technology Corp. | 19,000 | 259 | ||||
| Lotus Pharmaceutical Co. Ltd. | 29,000 | 258 | ||||
| Yankey Engineering Co. Ltd. | 11,730 | 254 | ||||
| Getac Holdings Corp. | 70,000 | 252 | ||||
| Elite Semiconductor Microelectronics Technology Inc. | 51,000 | 250 | ||||
| 1 | Unitech Printed Circuit Board Corp. | 120,877 | 246 | |||
| Far Eastern International Bank | 580,646 | 240 | ||||
| Transcend Information Inc. | 36,000 | 239 | ||||
| 1 | Dynamic Holding Co. Ltd. | 47,794 | 237 | |||
| Tong Hsing Electronic Industries Ltd. | 41,322 | 232 | ||||
| 1 | Advanced Energy Solution Holding Co. Ltd. | 6,000 | 228 | |||
| ITEQ Corp. | 50,466 | 226 | ||||
| Arcadyan Technology Corp. | 36,123 | 226 | ||||
| Parade Technologies Ltd. | 13,000 | 224 | ||||
| All Ring Tech Co. Ltd. | 13,000 | 224 | ||||
| Grand Process Technology Corp. | 4,000 | 224 | ||||
| 1 | Elite Advanced Laser Corp. | 23,000 | 223 | |||
| Tong Yang Industry Co. Ltd. | 68,000 | 216 | ||||
| Visual Photonics Epitaxy Co. Ltd. | 31,000 | 212 | ||||
| Tung Ho Steel Enterprise Corp. | 90,110 | 212 | ||||
| Greatek Electronics Inc. | 69,000 | 210 | ||||
| Genius Electronic Optical Co. Ltd. | 15,000 | 210 | ||||
| 1 | Faraday Technology Corp. | 39,313 | 209 | |||
| Taiwan Hon Chuan Enterprise Co. Ltd. | 53,000 | 206 | ||||
| Great Wall Enterprise Co. Ltd. | 125,402 | 204 | ||||
| Global Brands Manufacture Ltd. | 58,986 | 203 | ||||
| TXC Corp. | 69,000 | 202 | ||||
| 1 | Cleanaway Co. Ltd. | 180,000 | 202 | |||
| Ruentex Industries Ltd. | 117,002 | 199 | ||||
| Test Research Inc. | 28,000 | 198 | ||||
| 1 | Bora Pharmaceuticals Co. Ltd. | 12,108 | 196 | |||
| 1 | Supreme Electronics Co. Ltd. | 83,980 | 194 | |||
| Global Mixed Mode Technology Inc. | 24,000 | 189 | ||||
| AcBel Polytech Inc. | 111,883 | 183 | ||||
| VisEra Technologies Co. Ltd. | 17,000 | 183 | ||||
| Elan Microelectronics Corp. | 47,000 | 182 | ||||
| *,1 | Starlux Airlines Co. Ltd. | 248,000 | 182 | |||
| Shin Zu Shing Co. Ltd. | 27,841 | 181 | ||||
| Airoha Technology Corp. | 11,000 | 181 | ||||
| Cheng Loong Corp. | 307,000 | 180 | ||||
| *,1 | HTC Corp. | 125,000 | 180 | |||
| 2 | Wiselink Co. Ltd. | 28,000 | 180 | |||
| * | China Petrochemical Development Corp. | 663,386 | 176 | |||
| Taiwan Secom Co. Ltd. | 52,000 | 176 | ||||
| President Securities Corp. | 171,085 | 175 | ||||
| Sunonwealth Electric Machine Industry Co. Ltd. | 36,000 | 174 | ||||
| Goldsun Building Materials Co. Ltd. | 145,753 | 173 | ||||
| Poya International Co. Ltd. | 10,734 | 173 | ||||
| Taiwan Fertilizer Co. Ltd. | 115,000 | 172 | ||||
| Huaku Development Co. Ltd. | 49,770 | 172 | ||||
| Sanyang Motor Co. Ltd. | 90,000 | 172 | ||||
| C Sun Manufacturing Ltd. | 17,000 | 172 | ||||
| Nichidenbo Corp. | 54,000 | 171 | ||||
| Kinpo Electronics | 209,000 | 170 | ||||
| Wisdom Marine Lines Co. Ltd. | 73,543 | 170 | ||||
| YFY Inc. | 206,000 | 169 | ||||
| Pan Jit International Inc. | 58,400 | 168 | ||||
| XinTec Inc. | 27,000 | 165 | ||||
| Solar Applied Materials Technology Corp. | 84,000 | 165 | ||||
| Charoen Pokphand Enterprise | 33,600 | 164 | ||||
| Ta Ya Electric Wire & Cable | 126,027 | 163 | ||||
| 1 | Allis Electric Co. Ltd. | 39,404 | 160 | |||
85
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| 1 | Foxsemicon Integrated Technology Inc. | 16,000 | 159 | |||
| Qisda Corp. | 191,880 | 158 | ||||
| * | HannsTouch Holdings Co. | 475,000 | 157 | |||
| * | Mercuries Life Insurance Co. Ltd. | 592,204 | 157 | |||
| *,1 | TSEC Corp. | 110,000 | 157 | |||
| Taiwan Surface Mounting Technology Corp. | 48,000 | 155 | ||||
| Feng Hsin Steel Co. Ltd. | 71,000 | 154 | ||||
| Gudeng Precision Industrial Co. Ltd. | 11,491 | 154 | ||||
| Fusheng Precision Co. Ltd. | 18,000 | 152 | ||||
| 1 | Pixart Imaging Inc. | 23,000 | 149 | |||
| * | United Renewable Energy Co. Ltd. | 213,420 | 149 | |||
| 1 | Phoenix Silicon International Corp. | 25,000 | 148 | |||
| Hannstar Board Corp. | 49,680 | 147 | ||||
| 1 | First Hi-Tec Enterprise Co. Ltd. | 16,000 | 147 | |||
| I-Chiun Precision Industry Co. Ltd. | 33,000 | 146 | ||||
| Shinkong Insurance Co. Ltd. | 39,000 | 144 | ||||
| Taiwan PCB Techvest Co. Ltd. | 116,000 | 143 | ||||
| * | HannStar Display Corp. | 483,000 | 142 | |||
| Ennoconn Corp. | 15,710 | 142 | ||||
| Giant Manufacturing Co. Ltd. | 53,740 | 140 | ||||
| Wah Lee Industrial Corp. | 33,720 | 139 | ||||
| Taiwan Speciality Chemicals Corp. | 13,000 | 139 | ||||
| Ennostar Inc. | 114,000 | 138 | ||||
| Center Laboratories Inc. | 95,207 | 133 | ||||
| Century Iron & Steel Industrial Co. Ltd. | 32,000 | 131 | ||||
| * | Foresee Pharmaceuticals Co. Ltd. | 49,068 | 131 | |||
| Coretronic Corp. | 46,000 | 130 | ||||
| Union Bank of Taiwan | 197,000 | 127 | ||||
| Marketech International Corp. | 13,000 | 125 | ||||
| Sercomm Corp. | 46,653 | 123 | ||||
| Everlight Electronics Co. Ltd. | 65,000 | 122 | ||||
| 1 | Silicon Integrated Systems Corp. | 69,602 | 121 | |||
| Tainan Spinning Co. Ltd. | 280,000 | 120 | ||||
| Machvision Inc. | 6,642 | 120 | ||||
| * | Etron Technology Inc. | 63,937 | 118 | |||
| Stark Technology Inc. | 25,000 | 118 | ||||
| Taiflex Scientific Co. Ltd. | 38,115 | 117 | ||||
| * | BES Engineering Corp. | 210,060 | 116 | |||
| Shinkong Synthetic Fibers Corp. | 233,316 | 115 | ||||
| Merry Electronics Co. Ltd. | 37,755 | 114 | ||||
| Sitronix Technology Corp. | 18,000 | 114 | ||||
| Taiwan Acceptance Corp. | 47,847 | 113 | ||||
| 1 | Pan-International Industrial Corp. | 70,000 | 113 | |||
| EVERGREEN Steel Corp. | 34,000 | 112 | ||||
| Thinking Electronic Industrial Co. Ltd. | 18,000 | 108 | ||||
| * | Episil Technologies Inc. | 56,000 | 108 | |||
| Synmosa Biopharma Corp. | 103,702 | 107 | ||||
| AmTRAN Technology Co. Ltd. | 83,637 | 105 | ||||
| Nan Pao Resins Chemical Co. Ltd. | 10,000 | 105 | ||||
| Farglory Land Development Co. Ltd. | 48,000 | 104 | ||||
| 1 | Ability Enterprise Co. Ltd. | 40,312 | 103 | |||
| Holy Stone Enterprise Co. Ltd. | 27,300 | 103 | ||||
| Far Eastern Department Stores Ltd. | 142,000 | 103 | ||||
| Depo Auto Parts Ind Co. Ltd. | 23,000 | 103 | ||||
| 1 | Yulon Motor Co. Ltd. | 105,185 | 103 | |||
| * | Oneness Biotech Co. Ltd. | 54,729 | 103 | |||
| Ichia Technologies Inc. | 57,000 | 102 | ||||
| Advanced Wireless Semiconductor Co. | 26,370 | 102 | ||||
| * | Wafer Works Corp. | 87,015 | 100 | |||
| Sonix Technology Co. Ltd. | 71,000 | 99 | ||||
| Grape King Bio Ltd. | 24,890 | 99 | ||||
| TTY Biopharm Co. Ltd. | 37,000 | 99 | ||||
| Systex Corp. | 27,000 | 99 | ||||
| Shiny Chemical Industrial Co. Ltd. | 18,900 | 96 | ||||
| 1 | Evergreen Aviation Technologies Corp. | 17,000 | 96 | |||
| Ho Tung Chemical Corp. | 298,000 | 95 | ||||
| 1 | Alpha Networks Inc. | 96,772 | 95 | |||
| Sakura Development Co. Ltd. | 60,480 | 94 | ||||
| Scientech Corp. | 8,000 | 94 | ||||
| TA-I Technology Co. Ltd. | 40,000 | 93 | ||||
86
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Channel Well Technology Co. Ltd. | 49,000 | 93 | ||||
| Quanta Storage Inc. | 29,000 | 92 | ||||
| Merida Industry Co. Ltd. | 38,000 | 91 | ||||
| Nan Kang Rubber Tire Co. Ltd. | 80,087 | 91 | ||||
| ITE Technology Inc. | 23,000 | 90 | ||||
| Anpec Electronics Corp. | 12,000 | 90 | ||||
| Weikeng Industrial Co. Ltd. | 88,000 | 89 | ||||
| * | Lumosa Therapeutics Co. Ltd. | 16,000 | 89 | |||
| Zero One Technology Co. Ltd. | 23,000 | 89 | ||||
| * | FLEXium Interconnect Inc. | 43,000 | 88 | |||
| AGV Products Corp. | 258,000 | 87 | ||||
| Chang Wah Electromaterials Inc. | 63,000 | 87 | ||||
| O-Bank Co. Ltd. | 277,000 | 87 | ||||
| Bank of Kaohsiung Co. Ltd. | 208,480 | 86 | ||||
| *,1 | Chung Hung Steel Corp. | 149,000 | 86 | |||
| Formosa Taffeta Co. Ltd. | 146,000 | 85 | ||||
| Taiwan Semiconductor Co. Ltd. | 43,000 | 84 | ||||
| momo.com Inc. | 13,680 | 84 | ||||
| Fitipower Integrated Technology Inc. | 17,703 | 84 | ||||
| Chang Wah Technology Co. Ltd. | 53,500 | 84 | ||||
| Sporton International Inc. | 13,372 | 83 | ||||
| Ton Yi Industrial Corp. | 137,000 | 83 | ||||
| China Motor Corp. | 43,200 | 82 | ||||
| * | Grand Pacific Petrochemical | 188,799 | 82 | |||
| 1 | JPC connectivity Inc. | 17,000 | 82 | |||
| * | EirGenix Inc. | 42,000 | 82 | |||
| Evergreen International Storage & Transport Corp. | 45,500 | 81 | ||||
| Taiyen Biotech Co. Ltd. | 80,000 | 81 | ||||
| Wei Chuan Foods Corp. | 173,000 | 81 | ||||
| Hota Industrial Manufacturing Co. Ltd. | 41,810 | 80 | ||||
| Taiwan Sakura Corp. | 29,000 | 80 | ||||
| Sinon Corp. | 55,000 | 80 | ||||
| Cathay Real Estate Development Co. Ltd. | 110,000 | 79 | ||||
| *,1 | Yieh Phui Enterprise Co. Ltd. | 168,332 | 79 | |||
| 1 | Solomon Technology Corp. | 19,000 | 79 | |||
| 1 | Chenming Electronic Technology Corp. | 22,000 | 78 | |||
| China Bills Finance Corp. | 140,000 | 77 | ||||
| Chong Hong Construction Co. Ltd. | 32,000 | 77 | ||||
| Universal Cement Corp. | 80,500 | 77 | ||||
| Standard Foods Corp. | 79,000 | 76 | ||||
| Chicony Power Technology Co. Ltd. | 26,000 | 75 | ||||
| Via Technologies Inc. | 46,000 | 74 | ||||
| Hotai Finance Co. Ltd. | 38,950 | 74 | ||||
| Nuvoton Technology Corp. | 32,000 | 74 | ||||
| Raydium Semiconductor Corp. | 10,000 | 74 | ||||
| 1 | Great Tree Pharmacy Co. Ltd. | 26,696 | 74 | |||
| TCI Co. Ltd. | 17,297 | 73 | ||||
| Chun Yuan Steel Industry Co. Ltd. | 99,000 | 72 | ||||
| Kung Long Batteries Industrial Co. Ltd. | 18,000 | 72 | ||||
| WUS Printed Circuit Co. Ltd. | 20,000 | 71 | ||||
| Brighton-Best International Taiwan Inc. | 66,000 | 71 | ||||
| Clevo Co. | 56,000 | 70 | ||||
| CMC Magnetics Corp. | 194,747 | 70 | ||||
| Run Long Construction Co. Ltd. | 73,260 | 70 | ||||
| Taiwan Paiho Ltd. | 42,000 | 69 | ||||
| Fulgent Sun International Holding Co. Ltd. | 22,985 | 69 | ||||
| Kaimei Electronic Corp. | 23,200 | 69 | ||||
| Kenda Rubber Industrial Co. Ltd. | 105,001 | 68 | ||||
| SDI Corp. | 25,000 | 68 | ||||
| * | Sunplus Technology Co. Ltd. | 91,000 | 67 | |||
| Cheng Uei Precision Industry Co. Ltd. | 53,000 | 67 | ||||
| Chin-Poon Industrial Co. Ltd. | 50,000 | 67 | ||||
| D-Link Corp. | 134,760 | 67 | ||||
| TPK Holding Co. Ltd. | 49,000 | 67 | ||||
| Everlight Chemical Industrial Corp. | 77,000 | 66 | ||||
| M31 Technology Corp. | 4,600 | 66 | ||||
| Kindom Development Co. Ltd. | 65,010 | 65 | ||||
| Johnson Health Tech Co. Ltd. | 15,000 | 65 | ||||
| Topkey Corp. | 12,000 | 65 | ||||
| ASROCK Inc. | 9,000 | 65 | ||||
87
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Kenmec Mechanical Engineering Co. Ltd. | 32,000 | 65 | ||||
| China Electric Manufacturing Corp. | 147,540 | 63 | ||||
| Kuo Toong International Co. Ltd. | 37,330 | 63 | ||||
| YungShin Global Holding Corp. | 36,000 | 63 | ||||
| Lingsen Precision Industries Ltd. | 69,000 | 62 | ||||
| * | Phihong Technology Co. Ltd. | 63,380 | 62 | |||
| Pegavision Corp. | 6,514 | 62 | ||||
| Allied Supreme Corp. | 8,000 | 62 | ||||
| CyberPower Systems Inc. | 10,000 | 62 | ||||
| RichWave Technology Corp. | 15,650 | 61 | ||||
| China Steel Chemical Corp. | 26,000 | 60 | ||||
| Syncmold Enterprise Corp. | 26,000 | 60 | ||||
| Chief Telecom Inc. | 5,000 | 60 | ||||
| * | Polaris Group | 56,415 | 60 | |||
| Advanced International Multitech Co. Ltd. | 27,000 | 59 | ||||
| 1 | Motech Industries Inc. | 56,594 | 59 | |||
| Weltrend Semiconductor | 30,000 | 59 | ||||
| Dimerco Express Corp. | 23,451 | 59 | ||||
| UPI Semiconductor Corp. | 10,000 | 59 | ||||
| G Shank Enterprise Co. Ltd. | 22,000 | 59 | ||||
| 1 | JSL Construction & Development Co. Ltd. | 40,068 | 59 | |||
| Lai Yih Footwear Co. Ltd. | 9,000 | 58 | ||||
| Zeng Hsing Industrial Co. Ltd. | 18,115 | 57 | ||||
| 1 | Altek Corp. | 44,795 | 56 | |||
| TSRC Corp. | 86,000 | 56 | ||||
| *,1 | Apex International Co. Ltd. | 37,688 | 56 | |||
| 1 | HD Renewable Energy Co. Ltd. | 15,989 | 55 | |||
| 1 | Zyxel Group Corp. | 49,961 | 54 | |||
| Gemtek Technology Corp. | 63,000 | 54 | ||||
| 1 | Flytech Technology Co. Ltd. | 18,000 | 54 | |||
| * | TaiMed Biologics Inc. | 32,960 | 54 | |||
| Continental Holdings Corp. | 76,000 | 54 | ||||
| * | Taiwan-Asia Semiconductor Corp. | 61,000 | 53 | |||
| Hu Lane Associate Inc. | 14,233 | 53 | ||||
| Promate Electronic Co. Ltd. | 35,999 | 53 | ||||
| Hsin Kuang Steel Co. Ltd. | 41,000 | 52 | ||||
| * | Holtek Semiconductor Inc. | 26,000 | 52 | |||
| 2 | FocalTech Systems Co. Ltd. | 30,203 | 51 | |||
| * | Medigen Vaccine Biologics Corp. | 44,390 | 51 | |||
| Lian HWA Food Corp. | 18,700 | 51 | ||||
| China Metal Products | 64,000 | 50 | ||||
| * | Lealea Enterprise Co. Ltd. | 242,920 | 50 | |||
| 1 | Posiflex Technology Inc. | 9,000 | 50 | |||
| Sunny Friend Environmental Technology Co. Ltd. | 19,737 | 50 | ||||
| *,1 | Taiwan Mask Corp. | 32,000 | 50 | |||
| Delpha Construction Co. Ltd. | 59,000 | 50 | ||||
| TYC Brother Industrial Co. Ltd. | 35,000 | 49 | ||||
| * | Career Technology MFG. Co. Ltd. | 94,188 | 49 | |||
| Cenra Inc. | 45,000 | 49 | ||||
| YC INOX Co. Ltd. | 72,292 | 48 | ||||
| Rechi Precision Co. Ltd. | 58,000 | 48 | ||||
| * | Ritek Corp. | 103,214 | 48 | |||
| * | General Interface Solution GIS Holding Ltd. | 32,000 | 48 | |||
| 1 | Genesys Logic Inc. | 15,000 | 48 | |||
| Materials Analysis Technology Inc. | 7,000 | 48 | ||||
| Ability Opto-Electronics Technology Co. Ltd. | 14,000 | 48 | ||||
| Xxentria Technology Materials Corp. | 39,461 | 47 | ||||
| * | CyberTAN Technology Inc. | 56,000 | 47 | |||
| * | Microbio Co. Ltd. | 79,762 | 47 | |||
| * | Egis Technology Inc. | 12,000 | 46 | |||
| Namchow Holdings Co. Ltd. | 37,000 | 45 | ||||
| Sampo Corp. | 58,000 | 45 | ||||
| * | International CSRC Investment Holdings Co. | 104,990 | 44 | |||
| Elitegroup Computer Systems Co. Ltd. | 50,000 | 44 | ||||
| IEI Integration Corp. | 23,000 | 44 | ||||
| Speed Tech Corp. | 38,000 | 44 | ||||
| Bioteque Corp. | 11,000 | 44 | ||||
| * | Fittech Co. Ltd. | 10,508 | 44 | |||
| Forcecon Tech Co. Ltd. | 14,950 | 44 | ||||
| 1 | Cub Elecparts Inc. | 14,281 | 43 | |||
88
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Gigastorage Corp. | 40,000 | 42 | |||
| Mercuries & Associates Holding Ltd. | 78,969 | 42 | ||||
| Firich Enterprises Co. Ltd. | 56,000 | 42 | ||||
| USI Corp. | 108,000 | 42 | ||||
| PharmaEngine Inc. | 20,000 | 42 | ||||
| Gamania Digital Entertainment Co. Ltd. | 25,000 | 42 | ||||
| *,1 | Andes Technology Corp. | 6,000 | 42 | |||
| * | Lung Yen Life Service Corp. | 24,000 | 41 | |||
| Hung Sheng Construction Ltd. | 63,600 | 41 | ||||
| * | Taiwan TEA Corp. | 98,000 | 41 | |||
| Radium Life Tech Co. Ltd. | 112,771 | 40 | ||||
| Formosan Rubber Group Inc. | 49,000 | 40 | ||||
| 1 | Advanced Ceramic X Corp. | 8,000 | 40 | |||
| Darfon Electronics Corp. | 40,000 | 40 | ||||
| Chlitina Holding Ltd. | 11,332 | 40 | ||||
| Actron Technology Corp. | 9,574 | 40 | ||||
| Adlink Technology Inc. | 19,000 | 39 | ||||
| FSP Technology Inc. | 22,000 | 39 | ||||
| Swancor Holding Co. Ltd. | 10,000 | 39 | ||||
| Basso Industry Corp. | 35,000 | 38 | ||||
| 1 | Infortrend Technology Inc. | 37,000 | 38 | |||
| Nantex Industry Co. Ltd. | 44,000 | 38 | ||||
| * | RDC Semiconductor Co. Ltd. | 9,240 | 38 | |||
| * | Adimmune Corp. | 65,000 | 37 | |||
| T3EX Global Holdings Corp. | 18,000 | 37 | ||||
| * | Tong-Tai Machine & Tool Co. Ltd. | 34,000 | 36 | |||
| Savior Lifetec Corp. | 59,436 | 36 | ||||
| Waffer Technology Corp. | 19,454 | 36 | ||||
| ZillTek Technology Corp. | 5,000 | 36 | ||||
| Chia Hsin Cement Corp. | 76,100 | 34 | ||||
| Advancetek Enterprise Co. Ltd. | 37,000 | 34 | ||||
| Iron Force Industrial Co. Ltd. | 10,630 | 33 | ||||
| Brogent Technologies Inc. | 10,494 | 33 | ||||
| KMC Kuei Meng International Inc. | 11,000 | 33 | ||||
| Universal Vision Biotechnology Co. Ltd. | 7,678 | 33 | ||||
| 1 | Shinfox Energy Co. Ltd. | 23,492 | 33 | |||
| Asia Polymer Corp. | 71,757 | 32 | ||||
| * | Longchen Paper & Packaging Co. Ltd. | 100,803 | 32 | |||
| UPC Technology Corp. | 91,000 | 32 | ||||
| Tyntek Corp. | 51,000 | 31 | ||||
| Rich Development Co. Ltd. | 122,490 | 31 | ||||
| * | Chung Hwa Pulp Corp. | 78,000 | 31 | |||
| * | Oriental Union Chemical Corp. | 75,000 | 31 | |||
| * | Federal Corp. | 47,000 | 31 | |||
| * | China Man-Made Fiber Corp. | 133,240 | 30 | |||
| Sinyi Realty Inc. | 43,000 | 30 | ||||
| Darwin Precisions Corp. | 67,500 | 30 | ||||
| 1 | Formosa Sumco Technology Corp. | 7,000 | 30 | |||
| Soft-World International Corp. | 9,000 | 29 | ||||
| Hong Pu Real Estate Development Co. Ltd. | 37,000 | 28 | ||||
| TaiDoc Technology Corp. | 7,000 | 28 | ||||
| Sensortek Technology Corp. | 5,000 | 28 | ||||
| Gourmet Master Co. Ltd. | 12,000 | 27 | ||||
| Huang Hsiang Construction Corp. | 21,554 | 26 | ||||
| St. Shine Optical Co. Ltd. | 7,000 | 25 | ||||
| KEE TAI Properties Co. Ltd. | 70,650 | 24 | ||||
| * | Kuo Yang Construction Co. Ltd. | 39,000 | 24 | |||
| * | Shining Building Business Co. Ltd. | 80,000 | 23 | |||
| * | Li Peng Enterprise Co. Ltd. | 128,000 | 23 | |||
| Cyberlink Corp. | 10,000 | 22 | ||||
| 91APP Inc. | 11,000 | 22 | ||||
| * | Taiwan Styrene Monomer | 70,000 | 21 | |||
| CHC Healthcare Group | 20,000 | 21 | ||||
| * | OBI Pharma Inc. | 15,494 | 21 | |||
| Rexon Industrial Corp. Ltd. | 25,000 | 21 | ||||
| 1 | Yungshin Construction & Development Co. Ltd. | 12,000 | 21 | |||
| Tung Thih Electronic Co. Ltd. | 11,440 | 19 | ||||
| China General Plastics Corp. | 43,155 | 17 | ||||
| * | Medigen Biotechnology Corp. | 18,000 | 17 | |||
| Amazing Microelectronic Corp. | 6,242 | 17 | ||||
89
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Ultra Chip Inc. | 10,000 | 16 | ||||
| Panion & BF Biotech Inc. | 8,000 | 16 | ||||
| * | PChome Online Inc. | 15,430 | 14 | |||
| * | ALI Corp. | 16,200 | 13 | |||
| ScinoPharm Taiwan Ltd. | 13,000 | 9 | ||||
| *,2 | Pharmally International Holding Co. Ltd. | 1,282 | — | |||
| 581,240 | ||||||
| Thailand (0.5%) | ||||||
| Delta Electronics Thailand PCL (Foreign) | 573,100 | 5,133 | ||||
| Advanced Info Service PCL (Foreign) | 211,500 | 2,584 | ||||
| Kasikornbank PCL (Foreign) | 346,100 | 2,237 | ||||
| CP ALL PCL (Foreign) | 1,104,500 | 1,839 | ||||
| SCB X PCL (Foreign) | 329,900 | 1,575 | ||||
| Bangkok Dusit Medical Services PCL (Foreign) | 2,174,900 | 1,515 | ||||
| Airports of Thailand PCL (Foreign) | 784,900 | 1,375 | ||||
| Krung Thai Bank PCL (Foreign) | 1,185,700 | 1,306 | ||||
| Central Pattana PCL (Foreign) | 533,700 | 1,200 | ||||
| Siam Cement PCL (Foreign) | 142,300 | 1,030 | ||||
| True Corp. PCL (Foreign) | 1,838,214 | 857 | ||||
| Bumrungrad Hospital PCL (Foreign) | 120,300 | 822 | ||||
| Bangkok Bank PCL (Foreign) | 114,400 | 653 | ||||
| Minor International PCL (Foreign) | 766,500 | 641 | ||||
| TMBThanachart Bank PCL (Foreign) | 7,601,324 | 577 | ||||
| Charoen Pokphand Foods PCL (Foreign) | 666,100 | 450 | ||||
| Tisco Financial Group PCL (Foreign) | 116,700 | 430 | ||||
| Central Retail Corp. PCL (Foreign) | 488,100 | 324 | ||||
| Krungthai Card PCL (Foreign) | 289,500 | 309 | ||||
| Kiatnakin Phatra Bank PCL (Foreign) | 105,900 | 265 | ||||
| Indorama Ventures PCL (Foreign) | 349,400 | 257 | ||||
| Thanachart Capital PCL (Foreign) | 124,400 | 243 | ||||
| Bangkok Expressway & Metro PCL (Foreign) | 1,075,800 | 218 | ||||
| Home Product Center PCL (Foreign) | 864,100 | 206 | ||||
| Thai Union Group PCL (Foreign) | 490,700 | 196 | ||||
| WHA Premium Growth Freehold & Leasehold REIT | 539,046 | 194 | ||||
| Land & Houses PCL (Foreign) | 1,322,100 | 185 | ||||
| Srisawad Corp. PCL (Foreign) | 188,761 | 174 | ||||
| TIDLOR Holdings PCL (Foreign) | 246,217 | 158 | ||||
| Muangthai Capital PCL (Foreign) | 125,100 | 149 | ||||
| Com7 PCL (Foreign) | 191,800 | 149 | ||||
| 1 | CP Axtra PCL (Foreign) | 275,755 | 149 | |||
| Central Plaza Hotel PCL (Foreign) | 111,600 | 144 | ||||
| Osotspa PCL (Foreign) | 252,500 | 139 | ||||
| CPN Retail Growth Leasehold REIT | 357,300 | 139 | ||||
| Thai Life Insurance PCL (Foreign) | 357,500 | 126 | ||||
| * | BTS Group Holdings PCL (Foreign) | 1,630,522 | 125 | |||
| Supalai PCL (Foreign) | 214,500 | 123 | ||||
| SCG Packaging PCL (Foreign) | 184,900 | 122 | ||||
| AP Thailand PCL (Foreign) | 404,800 | 120 | ||||
| Sansiri PCL (Foreign) | 2,360,900 | 118 | ||||
| Asset World Corp. PCL (Foreign) | 1,251,300 | 100 | ||||
| KCE Electronics PCL (Foreign) | 157,100 | 98 | ||||
| Cal-Comp Electronics Thailand PCL (Foreign) | 517,200 | 93 | ||||
| Thaifoods Group PCL (Foreign) | 435,300 | 91 | ||||
| Siam Global House PCL (Foreign) | 355,775 | 89 | ||||
| Betagro PCL (Foreign) | 124,900 | 88 | ||||
| * | Energy Absolute PCL (Foreign) | 889,900 | 86 | |||
| * | Jasmine Technology Solution PCL (Foreign) | 31,600 | 85 | |||
| PTG Energy PCL (Foreign) | 257,700 | 83 | ||||
| Thai Vegetable Oil PCL (Foreign) | 101,470 | 81 | ||||
| Amata Corp. PCL (Foreign) | 128,493 | 81 | ||||
| Bangkok Airways PCL (Foreign) | 137,100 | 79 | ||||
| Thailand Future Fund | 347,700 | 76 | ||||
| Berli Jucker PCL (Foreign) | 143,500 | 74 | ||||
| 1 | Hana Microelectronics PCL (Foreign) | 121,600 | 71 | |||
| * | Stecon Group PCL (Foreign) | 169,600 | 71 | |||
| TTW PCL (Foreign) | 230,200 | 70 | ||||
| Mega Lifesciences PCL (Foreign) | 56,000 | 69 | ||||
| Sri Trang Agro-Industry PCL (Foreign) | 141,300 | 67 | ||||
| Bangkok Chain Hospital PCL (Foreign) | 190,200 | 67 | ||||
90
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Bangkok Commercial Asset Management PCL (Foreign) | 270,300 | 66 | ||||
| AEON Thana Sinsap Thailand PCL (Foreign) | 19,700 | 62 | ||||
| MBK PCL (Foreign) | 90,600 | 60 | ||||
| Tipco Asphalt PCL (Foreign) | 133,700 | 60 | ||||
| I-TAIL Corp. PCL (Foreign) | 110,500 | 60 | ||||
| * | Thaicom PCL (Foreign) | 155,200 | 59 | |||
| VGI PCL (Foreign) | 1,471,199 | 55 | ||||
| Bangkok Life Assurance PCL NVDR | 77,600 | 53 | ||||
| Quality Houses PCL (Foreign) | 994,900 | 49 | ||||
| Chularat Hospital PCL (Foreign) | 885,000 | 47 | ||||
| TOA Paint Thailand PCL (Foreign) | 87,400 | 44 | ||||
| Plan B Media PCL (Foreign) | 269,068 | 41 | ||||
| 1 | JMT Network Services PCL (Foreign) | 114,192 | 41 | |||
| Sri Trang Gloves Thailand PCL (Foreign) | 142,600 | 41 | ||||
| Bangkok Life Assurance PCL (Foreign) | 58,000 | 40 | ||||
| GFPT PCL (Foreign) | 111,400 | 35 | ||||
| Dhipaya Group Holdings PCL (Foreign) | 50,400 | 34 | ||||
| Major Cineplex Group PCL (Foreign) | 127,400 | 33 | ||||
| * | Thonburi Healthcare Group PCL (Foreign) | 105,140 | 31 | |||
| * | SKY ICT PCL (Foreign) | 60,500 | 29 | |||
| * | Jasmine International PCL (Foreign) | 655,813 | 28 | |||
| MK Restaurants Group PCL (Foreign) | 37,800 | 27 | ||||
| Bangkok Land PCL (Foreign) | 1,730,200 | 27 | ||||
| Dohome PCL (Foreign) | 200,829 | 25 | ||||
| Jaymart Group Holdings PCL (Foreign) | 83,900 | 21 | ||||
| SPCG PCL (Foreign) | 57,800 | 17 | ||||
| 31,260 | ||||||
| Turkiye (0.2%) | ||||||
| BIM Birlesik Magazalar A/S | 86,579 | 1,319 | ||||
| Akbank TAS | 625,646 | 1,286 | ||||
| Turk Hava Yollari AO | 124,625 | 874 | ||||
| * | Yapi ve Kredi Bankasi A/S | 683,416 | 675 | |||
| Turkiye Is Bankasi A/S Class C | 1,717,979 | 663 | ||||
| Turkcell Iletisim Hizmetleri A/S | 242,981 | 642 | ||||
| Eregli Demir ve Celik Fabrikalari TAS | 711,579 | 530 | ||||
| Turkiye Garanti Bankasi A/S | 114,970 | 420 | ||||
| Ford Otomotiv Sanayi A/S | 126,235 | 334 | ||||
| Astor Transformator Enerji Turizm Insaat ve Petrol Sanayi Ticaret A/S | 74,991 | 321 | ||||
| Turkiye Sise ve Cam Fabrikalari A/S | 241,289 | 247 | ||||
| Coca-Cola Icecek A/S | 145,345 | 236 | ||||
| Migros Ticaret A/S | 15,861 | 234 | ||||
| * | TAV Havalimanlari Holding A/S | 31,485 | 222 | |||
| *,3 | MLP Saglik Hizmetleri A/S | 19,196 | 192 | |||
| * | Pegasus Hava Tasimaciligi A/S | 42,511 | 190 | |||
| Emlak Konut Gayrimenkul Yatirim Ortakligi A/S | 349,864 | 189 | ||||
| * | Pasifik Eurasia Lojistik Dis Ticaret A/S | 68,244 | 188 | |||
| * | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S | 248,545 | 184 | |||
| * | Turk Altin Isletmeleri A/S | 128,877 | 179 | |||
| * | Isiklar Enerji ve Yapi Holding A/S | 94,051 | 178 | |||
| * | Margun Enerji Uretim Sanayi ve Ticaret A/S | 154,501 | 175 | |||
| * | Sasa Polyester Sanayi A/S | 3,082,887 | 173 | |||
| * | Gubre Fabrikalari TAS | 13,869 | 168 | |||
| Katilimevim Tasarruf Finansman A/S | 177,134 | 162 | ||||
| Tofas Turk Otomobil Fabrikasi A/S | 21,871 | 159 | ||||
| * | Turk Telekomunikasyon A/S | 92,376 | 143 | |||
| Nuh Cimento Sanayi A/S | 19,126 | 118 | ||||
| * | Turkiye Vakiflar Bankasi TAO | 124,344 | 117 | |||
| Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S | 133,424 | 113 | ||||
| 3 | Mavi Giyim Sanayi ve Ticaret A/S Class B | 104,776 | 108 | |||
| 3 | Enerjisa Enerji A/S | 43,953 | 107 | |||
| * | Turkiye Halk Bankasi A/S | 93,985 | 105 | |||
| Is Yatirim Menkul Degerler A/S | 94,936 | 104 | ||||
| Oyak Cimento Fabrikalari A/S | 182,404 | 102 | ||||
| Yeni Gimat Gayrimenkul Ortakligi A/S | 29,795 | 99 | ||||
| * | Arcelik A/S | 36,843 | 97 | |||
| Turkiye Sigorta A/S | 339,220 | 94 | ||||
| * | Kuyumcukent Gayrimenkul Yatirimlari A/S | 54,140 | 91 | |||
| * | Odine Solutions Teknoloji Ticaret ve Sanayi A/S | 6,785 | 89 | |||
| TAB Gida Sanayi ve Ticaret A/S | 14,801 | 88 | ||||
91
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| * | Petkim Petrokimya Holding A/S | 214,602 | 85 | |||
| Ulker Biskuvi Sanayi A/S | 30,197 | 85 | ||||
| LDR Turizm A/S | 42,660 | 82 | ||||
| * | Ral Yatirim Holding A/S | 22,281 | 79 | |||
| Global Yatirim Holding A/S | 213,030 | 78 | ||||
| Ziraat Gayrimenkul Yatirim Ortakligi A/S | 147,769 | 77 | ||||
| Dogus Otomotiv Servis ve Ticaret A/S | 14,658 | 73 | ||||
| Torunlar Gayrimenkul Yatirim Ortakligi A/S | 37,210 | 72 | ||||
| Anadolu Anonim Turk Sigorta Sirketi | 120,412 | 71 | ||||
| Cimsa Cimento Sanayi ve Ticaret A/S | 59,555 | 69 | ||||
| * | Sok Marketler Ticaret A/S | 47,018 | 68 | |||
| * | Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret A/S | 84,116 | 68 | |||
| Anadolu Hayat Emeklilik A/S | 25,693 | 66 | ||||
| EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S | 24,671 | 65 | ||||
| Borusan Yatirim ve Pazarlama A/S | 1,252 | 65 | ||||
| * | Baticim Bati Anadolu Cimento Sanayii A/S | 506,064 | 62 | |||
| * | MIA Teknoloji A/S | 72,289 | 62 | |||
| * | Fenerbahce Futbol A/S | 828,060 | 60 | |||
| Turk Traktor ve Ziraat Makineleri A/S | 4,997 | 58 | ||||
| Selcuk Ecza Deposu Ticaret ve Sanayi A/S | 29,756 | 58 | ||||
| Dogan Sirketler Grubu Holding A/S | 124,692 | 57 | ||||
| * | Turkiye Sinai Kalkinma Bankasi A/S | 191,324 | 57 | |||
| * | DAP Gayrimenkul Gelistirme A/S Class C | 218,994 | 57 | |||
| * | Girsim Elektrik Sanayi Taahut ve Ticaret A/S | 53,580 | 56 | |||
| Albaraka Turk Katilim Bankasi A/S | 251,755 | 53 | ||||
| Sekerbank Turk A/S | 177,616 | 49 | ||||
| Logo Yazilim Sanayi ve Ticaret A/S | 14,556 | 46 | ||||
| Akcansa Cimento A/S | 9,388 | 45 | ||||
| * | Yatas Yatak ve Yorgan Sanayi ve Ticaret A/S | 43,687 | 45 | |||
| * | BatiSoke Soke Cimento Sanayii TAS | 68,072 | 45 | |||
| * | Is Gayrimenkul Yatirim Ortakligi A/S | 87,038 | 43 | |||
| * | Hektas Ticaret TAS | 627,865 | 43 | |||
| AKIS Gayrimenkul Yatirimi A/S | 220,620 | 41 | ||||
| GEN Ilac ve Saglik Urunleri Sanayi ve Ticaret A/S | 224,460 | 40 | ||||
| * | Is Finansal Kiralama A/S | 76,041 | 37 | |||
| * | Lydia Yesil Enerji Kaynaklari Anonimsirketi | 116 | 37 | |||
| EGE Endustri ve Ticaret A/S | 243 | 36 | ||||
| * | Europen Endustri Insaat Sanayi ve Ticaret A/S | 278,772 | 32 | |||
| * | Sinpas Gayrimenkul Yatirim Ortakligi A/S | 302,799 | 31 | |||
| * | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class A | 43,594 | 30 | |||
| Bursa Cimento Fabrikasi A/S | 199,805 | 29 | ||||
| * | Aksigorta A/S | 146,487 | 25 | |||
| Kontrolmatik Enerji ve Muhendislik A/S | 115,866 | 25 | ||||
| Kocaer Celik Sanayi ve Ticaret A/S | 94,117 | 24 | ||||
| * | Vestel Elektronik Sanayi ve Ticaret A/S | 34,099 | 23 | |||
| * | Tat Gida Sanayi A/S | 56,770 | 22 | |||
| * | Akfen Yenilenebilir Enerji A/S | 54,444 | 22 | |||
| * | Besiktas Futbol Yatirimlari Sanayi ve Ticaret A/S | 592,201 | 21 | |||
| * | Tukas Gida Sanayi ve Ticaret A/S | 376,438 | 21 | |||
| Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A/S | 11,745 | 21 | ||||
| * | Investco Holding A/S | 3,977 | 21 | |||
| * | Kizilbuk Gayrimenkul Yatirim Ortakligi A/S | 261,639 | 20 | |||
| * | Polisan Holding A/S | 45,381 | 17 | |||
| Brisa Bridgestone Sabanci Sanayi ve Ticaret A/S | 7,642 | 16 | ||||
| Iskenderun Demir ve Celik A/S | 15,458 | 16 | ||||
| SUN Tekstil Sanayi ve Ticaret A/S | 18,923 | 16 | ||||
| Ebebek Magazacilik A/S Class B | 10,694 | 16 | ||||
| * | Besler Gida ve Kimya Sanayi ve Ticaret A/S | 44,755 | 15 | |||
| * | Karsan Otomotiv Sanayii ve Ticaret A/S | 63,945 | 15 | |||
| * | Kervan Gida Sanayi ve Ticaret A/S Class B | 200,961 | 14 | |||
| * | Penta Teknoloji Urunleri Dagitim Ticaret A/S | 42,724 | 14 | |||
| * | Yayla Agro Gida Sanayi ve Nakliyat A/S | 52,321 | 14 | |||
| * | Imas Makina Sanayi A/S | 145,988 | 14 | |||
| Eczacibasi Yatirim Holding Ortakligi A/S | 2,082 | 14 | ||||
| Galata Wind Enerji A/S | 23,533 | 14 | ||||
| * | Kartonsan Karton Sanayi ve Ticaret A/S | 7,571 | 13 | |||
| Alfa Solar Enerji Sanayi ve Ticaret A/S | 13,773 | 13 | ||||
| * | Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret A/S | 69,090 | 12 | |||
| * | Biotrend Cevre ve Enerji Yatirimlari A/S | 33,343 | 12 | |||
| Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A/S | 1,514 | 12 | ||||
92
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Escar Turizm Tasimacilik Ticaret A/S | 19,478 | 12 | ||||
| * | Kordsa Teknik Tekstil A/S | 9,659 | 11 | |||
| * | Vakif Gayrimenkul Yatirim Ortakligi A/S | 171,118 | 11 | |||
| Suwen Tekstil Sanayi Pazarlama A/S | 53,215 | 11 | ||||
| Anadolu Isuzu Otomotiv Sanayi ve Ticaret A/S Class C | 6,632 | 11 | ||||
| * | Karel Elektronik Sanayi ve Ticaret A/S | 49,347 | 11 | |||
| * | Qua Granite Hayal | 164,436 | 10 | |||
| * | Marmara Holding A/S | 180,463 | 10 | |||
| * | Kimteks Poliuretan Sanayi ve Ticaret A/S | 27,777 | 9 | |||
| * | Aydem Yenilenebilir Enerji A/S | 16,135 | 9 | |||
| * | Bagfas Bandirma Gubre Fabrikalari A/S | 10,206 | 8 | |||
| Vestel Beyaz Esya Sanayi ve Ticaret A/S | 38,437 | 7 | ||||
| * | Link Bilgisayar Sistemleri Yazilimi ve Donanimi Sanayi ve Ticaret A/S | 1,257 | 6 | |||
| 14,655 | ||||||
| United Arab Emirates (0.5%) | ||||||
| Emaar Properties PJSC | 1,242,805 | 5,485 | ||||
| First Abu Dhabi Bank PJSC | 885,088 | 4,726 | ||||
| Emirates Telecommunications Group Co. PJSC | 696,335 | 3,846 | ||||
| Emirates NBD Bank PJSC | 364,141 | 3,272 | ||||
| Abu Dhabi Commercial Bank PJSC | 624,349 | 2,577 | ||||
| Aldar Properties PJSC | 755,981 | 2,223 | ||||
| Abu Dhabi Islamic Bank PJSC | 288,269 | 2,002 | ||||
| Dubai Islamic Bank PJSC | 568,202 | 1,283 | ||||
| Emaar Development PJSC | 168,873 | 890 | ||||
| * | Alpha Dhabi Holding PJSC | 322,892 | 802 | |||
| Air Arabia PJSC | 474,020 | 698 | ||||
| Salik Co. PJSC | 367,548 | 641 | ||||
| Agility Global plc | 1,217,504 | 457 | ||||
| * | Two Point Zero Group PJSC | 794,973 | 430 | |||
| Borouge plc | 600,114 | 424 | ||||
| Dubai Investments PJSC | 376,468 | 411 | ||||
| Americana Restaurants International plc - Foreign Co. | 606,423 | 308 | ||||
| GFH Financial Group BSC | 514,580 | 293 | ||||
| Parkin Co. PJSC | 161,929 | 260 | ||||
| * | Abu Dhabi Ports Co. PJSC | 179,974 | 233 | |||
| Abu Dhabi National Hotels | 1,531,081 | 217 | ||||
| Ajman Bank PJSC | 465,977 | 202 | ||||
| Emirates Central Cooling Systems Corp. | 366,329 | 178 | ||||
| Fertiglobe plc | 196,108 | 143 | ||||
| Dubai Financial Market PJSC | 301,364 | 132 | ||||
| * | RAK Properties PJSC | 291,102 | 111 | |||
| * | Space42 plc | 177,131 | 75 | |||
| Amanat Holdings PJSC | 203,336 | 71 | ||||
| Agthia Group PJSC | 53,297 | 55 | ||||
| *,2 | Arabtec Holding PJSC | 101,139 | — | |||
| 32,445 | ||||||
| United Kingdom (6.8%) | ||||||
| AstraZeneca plc | 299,027 | 62,925 | ||||
| Unilever plc | 427,420 | 31,408 | ||||
| GSK plc | 797,591 | 23,699 | ||||
| Barclays plc | 2,778,839 | 16,867 | ||||
| Lloyds Banking Group plc | 11,811,013 | 16,134 | ||||
| NatWest Group plc | 1,607,453 | 13,346 | ||||
| RELX plc | 363,773 | 12,708 | ||||
| London Stock Exchange Group plc | 98,720 | 11,762 | ||||
| Reckitt Benckiser Group plc | 130,613 | 11,507 | ||||
| Compass Group plc | 338,615 | 10,370 | ||||
| Haleon plc | 1,777,435 | 9,756 | ||||
| Standard Chartered plc | 364,074 | 8,981 | ||||
| 3i Group plc | 192,341 | 8,593 | ||||
| Tesco plc | 1,258,502 | 8,147 | ||||
| Prudential plc | 511,855 | 7,840 | ||||
| Experian plc | 183,435 | 6,904 | ||||
| Ashtead Group plc | 83,913 | 6,010 | ||||
| Vodafone Group plc | 3,723,264 | 5,733 | ||||
| Aviva plc | 601,026 | 5,539 | ||||
| Coca-Cola Europacific Partners plc | 42,126 | 4,650 | ||||
| Halma plc | 75,455 | 4,246 | ||||
| Next plc | 22,975 | 4,187 | ||||
93
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Legal & General Group plc | 1,106,306 | 4,041 | ||||
| InterContinental Hotels Group plc | 28,523 | 3,920 | ||||
| Antofagasta plc | 68,177 | 3,917 | ||||
| BT Group plc | 1,126,029 | 3,282 | ||||
| Segro plc | 274,828 | 3,111 | ||||
| Smith & Nephew plc | 168,026 | 3,102 | ||||
| Rentokil Initial plc | 501,354 | 3,098 | ||||
| Informa plc | 257,534 | 2,909 | ||||
| Endeavour Mining plc | 38,250 | 2,733 | ||||
| Coca-Cola HBC AG | 39,545 | 2,567 | ||||
| United Utilities Group plc | 134,573 | 2,522 | ||||
| International Consolidated Airlines Group SA | 434,860 | 2,477 | ||||
| Severn Trent plc | 51,537 | 2,275 | ||||
| Marks & Spencer Group plc | 412,763 | 2,207 | ||||
| Fresnillo plc | 37,145 | 2,119 | ||||
| Sage Group plc | 191,744 | 2,110 | ||||
| Diploma plc | 27,028 | 2,065 | ||||
| Beazley plc | 117,468 | 2,002 | ||||
| Admiral Group plc | 49,625 | 1,982 | ||||
| Bunzl plc | 65,088 | 1,920 | ||||
| St. James's Place plc | 101,622 | 1,840 | ||||
| M&G plc | 430,289 | 1,837 | ||||
| * | Wise plc Class A | 150,600 | 1,745 | |||
| Kingfisher plc | 346,006 | 1,740 | ||||
| Pearson plc | 127,350 | 1,639 | ||||
| J Sainsbury plc | 343,172 | 1,613 | ||||
| Games Workshop Group plc | 6,688 | 1,609 | ||||
| Phoenix Group Holdings plc | 150,223 | 1,552 | ||||
| Associated British Foods plc | 58,150 | 1,549 | ||||
| Howden Joinery Group plc | 111,400 | 1,452 | ||||
| Hiscox Ltd. | 66,858 | 1,393 | ||||
| Barratt Redrow plc | 275,038 | 1,347 | ||||
| Land Securities Group plc | 154,190 | 1,340 | ||||
| Persimmon plc | 63,458 | 1,287 | ||||
| LondonMetric Property plc | 436,337 | 1,259 | ||||
| ICG plc | 55,705 | 1,254 | ||||
| Whitbread plc | 35,426 | 1,240 | ||||
| 3 | Convatec Group plc | 358,611 | 1,237 | |||
| DCC plc | 17,283 | 1,205 | ||||
| 3 | Autotrader Group plc | 177,523 | 1,176 | |||
| IG Group Holdings plc | 66,867 | 1,173 | ||||
| Croda International plc | 27,947 | 1,167 | ||||
| Berkeley Group Holdings plc | 19,663 | 1,143 | ||||
| Taylor Wimpey plc | 741,526 | 1,126 | ||||
| British Land Co. plc | 204,241 | 1,123 | ||||
| * | Burberry Group plc | 70,673 | 1,105 | |||
| Schroders plc | 139,974 | 1,102 | ||||
| Aberdeen Group plc | 355,124 | 1,052 | ||||
| 1 | Mondi plc | 87,810 | 1,050 | |||
| Lion Finance Group plc | 6,613 | 1,033 | ||||
| Investec plc | 113,541 | 981 | ||||
| RS Group plc | 100,947 | 948 | ||||
| Rightmove plc | 156,062 | 940 | ||||
| Johnson Matthey plc | 32,476 | 881 | ||||
| Carnival plc | 27,620 | 873 | ||||
| Bellway plc | 23,311 | 871 | ||||
| Man Group plc | 236,694 | 853 | ||||
| Pan African Resources plc | 349,364 | 844 | ||||
| WPP plc | 226,350 | 837 | ||||
| Pennon Group plc | 100,978 | 816 | ||||
| Inchcape plc | 67,780 | 813 | ||||
| Cranswick plc | 10,432 | 762 | ||||
| ITV plc | 710,545 | 761 | ||||
| 3 | Quilter plc | 268,256 | 710 | |||
| Plus500 Ltd. | 12,851 | 692 | ||||
| Primary Health Properties plc | 474,472 | 692 | ||||
| Hochschild Mining plc | 63,234 | 688 | ||||
| 3 | Airtel Africa plc | 139,995 | 657 | |||
| UNITE Group plc | 93,368 | 633 | ||||
| Shaftesbury Capital plc | 301,976 | 627 | ||||
94
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| Mitie Group plc | 241,150 | 586 | ||||
| * | Vistry Group plc | 61,608 | 577 | |||
| TBC Bank Group plc | 8,597 | 556 | ||||
| OSB Group plc | 66,734 | 548 | ||||
| 3 | JTC plc | 30,708 | 540 | |||
| Canal+ SA | 129,527 | 538 | ||||
| Genus plc | 13,612 | 533 | ||||
| Derwent London plc | 21,805 | 531 | ||||
| Hammerson plc | 105,992 | 525 | ||||
| Big Yellow Group plc | 37,371 | 522 | ||||
| Hikma Pharmaceuticals plc | 29,324 | 520 | ||||
| Just Group plc | 177,867 | 520 | ||||
| JD Sports Fashion plc | 470,617 | 518 | ||||
| Sirius Real Estate Ltd. | 330,595 | 496 | ||||
| B&M European Value Retail SA | 189,260 | 486 | ||||
| Computacenter plc | 11,268 | 480 | ||||
| TP ICAP Group plc | 137,303 | 469 | ||||
| Paragon Banking Group plc | 40,622 | 468 | ||||
| Grafton Group plc | 34,849 | 465 | ||||
| SSP Group plc | 167,994 | 465 | ||||
| Safestore Holdings plc | 41,844 | 448 | ||||
| Coats Group plc | 356,603 | 448 | ||||
| easyJet plc | 70,685 | 442 | ||||
| * | Helios Towers plc | 162,765 | 438 | |||
| International Workplace Group plc | 144,596 | 434 | ||||
| Renishaw plc | 7,451 | 431 | ||||
| Oxford Instruments plc | 12,162 | 431 | ||||
| Lancashire Holdings Ltd. | 44,939 | 405 | ||||
| Currys plc | 182,844 | 397 | ||||
| Softcat plc | 25,267 | 389 | ||||
| Greggs plc | 17,934 | 384 | ||||
| Grainger plc | 147,992 | 382 | ||||
| Greencore Group plc | 103,491 | 378 | ||||
| Travis Perkins plc | 37,857 | 355 | ||||
| * | Ocado Group plc | 122,950 | 350 | |||
| Tate & Lyle plc | 68,240 | 346 | ||||
| Great Portland Estates plc | 72,327 | 338 | ||||
| AJ Bell plc | 57,957 | 337 | ||||
| Dunelm Group plc | 24,324 | 331 | ||||
| Ashmore Group plc | 100,417 | 322 | ||||
| Clarkson plc | 5,640 | 322 | ||||
| Volution Group plc | 33,388 | 320 | ||||
| 3 | Bridgepoint Group plc | 92,246 | 311 | |||
| Savills plc | 22,623 | 308 | ||||
| Rathbones Group plc | 9,511 | 289 | ||||
| Premier Foods plc | 106,819 | 284 | ||||
| *,3 | Watches of Switzerland Group plc | 40,002 | 275 | |||
| Firstgroup plc | 104,191 | 258 | ||||
| 4imprint Group plc | 4,861 | 258 | ||||
| Breedon Group plc | 52,809 | 254 | ||||
| Telecom Plus plc | 13,671 | 253 | ||||
| Vesuvius plc | 36,985 | 249 | ||||
| WH Smith plc | 26,128 | 243 | ||||
| Baltic Classifieds Group plc | 89,206 | 223 | ||||
| Zigup plc | 40,065 | 222 | ||||
| Pets at Home Group plc | 78,854 | 222 | ||||
| MONY Group plc | 93,566 | 217 | ||||
| Genuit Group plc | 41,445 | 213 | ||||
| IntegraFin Holdings plc | 47,586 | 203 | ||||
| *,3 | Trainline plc | 76,010 | 200 | |||
| Domino's Pizza Group plc | 68,904 | 186 | ||||
| Ninety One plc | 53,082 | 180 | ||||
| * | Close Brothers Group plc | 26,745 | 179 | |||
| * | Molten Ventures plc | 28,440 | 178 | |||
| AG Barr plc | 18,819 | 176 | ||||
| Moonpig Group plc | 58,770 | 176 | ||||
| Jupiter Fund Management plc | 68,814 | 174 | ||||
| Bytes Technology Group plc | 40,088 | 163 | ||||
| Kainos Group plc | 15,882 | 161 | ||||
| Hays plc | 295,287 | 160 | ||||
95
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| RHI Magnesita NV | 3,442 | 154 | ||||
| Wickes Group plc | 42,103 | 143 | ||||
| * | Oxford Nanopore Technologies plc | 78,344 | 140 | |||
| Pagegroup plc | 52,440 | 133 | ||||
| Workspace Group plc | 21,264 | 123 | ||||
| *,3 | Trustpilot Group plc | 61,455 | 122 | |||
| * | IP Group plc | 159,483 | 121 | |||
| 3 | Spire Healthcare Group plc | 43,341 | 119 | |||
| 3 | Ibstock plc | 60,143 | 108 | |||
| Future plc | 18,311 | 103 | ||||
| Marshalls plc | 41,669 | 101 | ||||
| Hilton Food Group plc | 13,782 | 98 | ||||
| Picton Property Income Ltd. | 81,152 | 95 | ||||
| Crest Nicholson Holdings plc | 43,431 | 89 | ||||
| Dr. Martens plc | 95,335 | 89 | ||||
| NCC Group plc | 48,301 | 85 | ||||
| * | AO World plc | 62,553 | 84 | |||
| 3 | CMC Markets plc | 18,876 | 83 | |||
| * | Auction Technology Group plc | 17,769 | 75 | |||
| *,1 | THG plc | 122,226 | 57 | |||
| *,1 | Raspberry PI Holdings plc | 9,788 | 49 | |||
| PZ Cussons plc | 40,812 | 45 | ||||
| *,1 | ASOS plc | 11,240 | 43 | |||
| *,1,3 | Aston Martin Lagonda Global Holdings plc | 49,662 | 31 | |||
| *,2 | Bakkavor Group plc | 30,028 | 1 | |||
| *,2 | NMC Health plc | 4,208 | — | |||
| 429,215 | ||||||
| United States (0.0%) | ||||||
| * | Dauch Corp. | 2 | — | |||
| Total Common Stocks (Cost $4,245,982) | 6,278,812 | |||||
| Preferred Stocks (0.8%) | ||||||
| Samsung Electronics Co. Ltd. Preference Shares | 162,000 | 16,271 | ||||
| Itau Unibanco Holding SA Preference Shares | 1,076,163 | 9,820 | ||||
| Banco Bradesco SA Preference Shares | 1,028,546 | 4,243 | ||||
| Itausa SA Preference Shares | 1,163,998 | 3,240 | ||||
| Henkel AG & Co. KGaA Preference Shares | 30,526 | 2,994 | ||||
| * | Sociedad Quimica y Minera de Chile SA Preference Shares Class B | 24,472 | 1,868 | |||
| Hyundai Motor Co. Preference Shares (XARX) | 6,721 | 1,511 | ||||
| Bayerische Motoren Werke AG Preference Shares | 10,677 | 1,114 | ||||
| Hyundai Motor Co. Preference Shares | 4,916 | 1,099 | ||||
| Gerdau SA Preference Shares | 244,093 | 999 | ||||
| Grupo Cibest SA Preference Shares | 57,578 | 976 | ||||
| Cia Energetica de Minas Gerais Preference Shares | 309,066 | 728 | ||||
| Mirae Asset Securities Co. Ltd. Preference Shares | 31,498 | 506 | ||||
| FUCHS SE Preference Shares | 11,471 | 495 | ||||
| LG Chem Ltd. Preference Shares | 2,525 | 353 | ||||
| Isa Energia Brasil SA Preference Shares | 56,185 | 312 | ||||
| * | Samsung SDI Co. Ltd. Preference Shares | 1,554 | 299 | |||
| Metalurgica Gerdau SA Preference Shares | 149,596 | 273 | ||||
| Sixt SE Preference Shares | 4,152 | 268 | ||||
| LG Electronics Inc. Preference Shares | 5,698 | 264 | ||||
| Grupo de Inversiones Suramericana SA Preference Shares | 20,999 | 257 | ||||
| Banco do Estado do Rio Grande do Sul SA Preference Shares Class B | 66,800 | 242 | ||||
| Samsung Fire & Marine Insurance Co. Ltd. Preference Shares | 786 | 225 | ||||
| Bradespar SA Preference Shares | 38,509 | 187 | ||||
| Marcopolo SA Preference Shares | 136,840 | 184 | ||||
| Draegerwerk AG & Co. KGaA Preference Shares | 1,635 | 173 | ||||
| Daishin Securities Co. Ltd. Preference Shares | 8,386 | 162 | ||||
| Amorepacific Corp. Preference Shares | 4,016 | 145 | ||||
| Alpargatas SA Preference Shares | 46,900 | 141 | ||||
| Banco ABC Brasil SA Preference Shares | 25,500 | 135 | ||||
| Unipar Carbocloro SA Preference Shares Class B | 9,373 | 129 | ||||
| Corem Property Group AB Preference Shares | 3,950 | 105 | ||||
| * | Usinas Siderurgicas de Minas Gerais SA Usiminas Preference Shares Class A | 71,600 | 99 | |||
| Cia de Ferro Ligas da Bahia FERBASA Preference Shares | 40,400 | 67 | ||||
| * | Localiza Rent a Car SA Preference Shares | 6,694 | 64 | |||
| * | Cyrela Brazil Realty SA Empreendimentos e Participacoes Preference Shares | 9,308 | 53 | |||
| CJ CheilJedang Corp. Preference Shares | 543 | 52 | ||||
96
ESG International Stock ETF
| Shares | Market Value• ($000) | |||||
| LG H&H Co. Ltd. Preference Shares | 474 | 38 | ||||
| Randoncorp SA Preference Shares | 27,400 | 36 | ||||
| Total Preferred Stocks (Cost $30,974) | 50,127 | |||||
| Rights (0.0%) | ||||||
| * | Hypera SA Exp. 3/17/2026 | 6,088 | 3 | |||
| *,2 | Speed Tech Corp. Exp. 3/2/2026 | 3,833 | — | |||
| *,2 | Kinsus Interconnect Technology Corp. Exp. 3/10/2026 | 5,630 | — | |||
| *,2 | Taiwan Mask Corp. Exp. 3/6/2026 | 4,620 | — | |||
| *,2 | Ability Enterprise Co. Ltd. Exp. 3/12/2026 | 1,117 | — | |||
| *,2 | Chong Hong Construction Co. Ltd. Exp. 3/16/2026 | 2,066 | — | |||
| *,2 | Sunonwealth Electric Machine Industry Co. Ltd. Exp. 3/12/2026 | 1,337 | — | |||
| *,2 | Azul SA Class A Exp. 3/25/2026 | 15,081 | — | |||
| *,2 | Azul SA Class B Exp. 3/25/2026 | 3,818 | — | |||
| *,2 | Azul SA Class C Exp. 3/25/2026 | 3,770 | — | |||
| Total Rights (Cost $—) | 3 | |||||
| Warrants (0.0%) | ||||||
| *,2 | Webuild SpA Exp. 8/31/2030 | 3,597 | 4 | |||
| * | VGI PCL Exp. 5/23/2027 | 88,419 | — | |||
| Total Warrants (Cost $—) | 4 | |||||
| Temporary Cash Investments (0.9%) | ||||||
| Money Market Fund (0.9%) | ||||||
| 4,5 | Vanguard Market Liquidity Fund, 3.693% (Cost $57,448) | 574,548 | 57,449 | |||
| Total Investments (100.5%) (Cost $4,334,404) | 6,386,395 | |||||
| Other Assets and Liabilities—Net (-0.5%) | (32,269) | |||||
| Net Assets (100%) | 6,354,126 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| * | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $48,412. |
| 2 | Security value determined using significant unobservable inputs. |
| 3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2026, the aggregate value was $171,641, representing 2.7% of net assets. |
| 4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 5 | Collateral of $53,743 was received for securities on loan, of which $53,737 is held in Vanguard Market Liquidity Fund and $6 is held in cash. |
| ADR—American Depositary Receipt. | |
| GDR—Global Depositary Receipt. | |
| NVDR—Non-Voting Depositary Receipt. | |
| REIT—Real Estate Investment Trust. |
Derivative Financial
Instruments Outstanding as of Period End
| Forward Currency Contracts | |||||||
| Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
| Counterparty | Receive | Deliver | |||||
| Toronto-Dominion Bank | 3/18/2026 | EUR | 2,000 | USD | 2,359 | 6 | — |
| JPMorgan Chase Bank, N.A. | 3/18/2026 | INR | 848,498 | USD | 9,363 | — | (46) |
| JPMorgan Chase Bank, N.A. | 3/18/2026 | JPY | 800,000 | USD | 5,177 | — | (48) |
| Deutsche Bank AG | 3/18/2026 | JPY | 314,135 | USD | 2,043 | — | (28) |
97
ESG International Stock ETF
| AUD—Australian dollar. |
| CHF—Swiss franc. |
| EUR—euro. |
| GBP—British pound. |
| HKD—Hong Kong dollar. |
| INR—Indian rupee. |
| JPY—Japanese yen. |
| KRW—Korean won. |
| SEK—Swedish krona. |
| SGD—Singapore dollar. |
| TWD—Taiwanese dollar. |
| USD—U.S. dollar. |
See accompanying Notes,
which are an integral part of the Financial Statements.
98
ESG International Stock ETF
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value1 | |
| Unaffiliated Issuers (Cost $4,276,956) | 6,328,946 |
| Affiliated Issuers (Cost $57,448) | 57,449 |
| Total Investments in Securities | 6,386,395 |
| Investment in Vanguard | 138 |
| Cash | 2,123 |
| Foreign Currency, at Value (Cost $14,229) | 14,281 |
| Cash Collateral Pledged—Futures Contracts | 670 |
| Receivables for Investment Securities Sold | 2,115 |
| Receivables for Accrued Income | 16,674 |
| Unrealized Appreciation—Forward Currency Contracts | 102 |
| Total Assets | 6,422,498 |
| Liabilities | |
| Payables for Investment Securities Purchased | 3,447 |
| Collateral for Securities on Loan | 53,743 |
| Payables to Vanguard | 462 |
| Variation Margin Payable—Futures Contracts | 56 |
| Unrealized Depreciation—Forward Currency Contracts | 469 |
| Deferred Foreign Capital Gains Taxes | 10,195 |
| Total Liabilities | 68,372 |
| Net Assets | 6,354,126 |
| 1 Includes $48,412 of securities on loan. | |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 4,594,687 |
| Total Distributable Earnings (Loss) | 1,759,439 |
| Net Assets | 6,354,126 |
| Net Assets | |
| Applicable to 80,100,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 6,354,126 |
| Net Asset Value Per Share | $79.33 |
See accompanying Notes,
which are an integral part of the Financial Statements.
99
ESG International Stock ETF
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Dividends1 | 43,270 |
| Interest2 | 391 |
| Securities Lending—Net | 855 |
| Total Income | 44,516 |
| Expenses | |
| The Vanguard Group—Note C | |
| Investment Advisory Services | 189 |
| Management and Administrative | 2,117 |
| Marketing and Distribution | 78 |
| Custodian Fees | 303 |
| Shareholders’ Reports | 36 |
| Trustees’ Fees and Expenses | 2 |
| Other Expenses | 20 |
| Total Expenses | 2,745 |
| Net Investment Income | 41,771 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold2,3 | (13,328) |
| Futures Contracts | 5,769 |
| Forward Currency Contracts | 447 |
| Foreign Currencies | (369) |
| Realized Net Gain (Loss) | (7,481) |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities2,4 | 997,059 |
| Futures Contracts | 258 |
| Forward Currency Contracts | (227) |
| Foreign Currencies | 515 |
| Change in Unrealized Appreciation (Depreciation) | 997,605 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1,031,895 |
| 1 | Dividends are net of foreign withholding taxes of $3,709. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $289, ($1), and ($2), respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | Realized Gain (Loss) is net of foreign capital gains taxes of $372. |
| 4 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of ($258). |
See accompanying Notes,
which are an integral part of the Financial Statements.
100
ESG International Stock ETF
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 41,771 | 113,873 | |
| Realized Net Gain (Loss) | (7,481) | (8,378) | |
| Change in Unrealized Appreciation (Depreciation) | 997,605 | 522,157 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1,031,895 | 627,652 | |
| Distributions | |||
| Total Distributions | (98,298) | (130,910) | |
| Capital Share Transactions | |||
| Issued | 404,386 | 526,367 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | — | (40,576) | |
| Net Increase (Decrease) from Capital Share Transactions | 404,386 | 485,791 | |
| Total Increase (Decrease) | 1,337,983 | 982,533 | |
| Net Assets | |||
| Beginning of Period | 5,016,143 | 4,033,610 | |
| End of Period | 6,354,126 | 5,016,143 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
101
ESG International Stock ETF
Financial Highlights
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $67.33 | $60.47 | $52.64 | $48.46 | $64.34 | $52.38 |
| Investment Operations | ||||||
| Net Investment Income1 | .543 | 1.635 | 1.446 | 1.385 | 1.632 | 1.295 |
| Net Realized and Unrealized Gain (Loss) on Investments | 12.751 | 7.128 | 8.043 | 4.073 | (15.837) | 11.907 |
| Total from Investment Operations | 13.294 | 8.763 | 9.489 | 5.458 | (14.205) | 13.202 |
| Distributions | ||||||
| Dividends from Net Investment Income | (1.294) | (1.903) | (1.659) | (1.278) | (1.675) | (1.242) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (1.294) | (1.903) | (1.659) | (1.278) | (1.675) | (1.242) |
| Net Asset Value, End of Period | $79.33 | $67.33 | $60.47 | $52.64 | $48.46 | $64.34 |
| Total Return | 20.01% | 14.92% | 18.37% | 11.36% | -22.38% | 25.45% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $6,354 | $5,016 | $4,034 | $3,390 | $2,864 | $2,561 |
| Ratio of Total Expenses to Average Net Assets | 0.10% | 0.11% | 0.12% | 0.12% | 0.12% | 0.12% |
| Ratio of Net Investment Income to Average Net Assets | 1.52% | 2.68% | 2.62% | 2.72% | 2.89% | 2.14% |
| Portfolio Turnover Rate2 | 3% | 8% | 5% | 9% | 12% | 7% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes, which are an integral
part of the Financial Statements.
102
ESG International Stock ETF
Notes to Financial Statements
Vanguard ESG International
Stock ETF is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.
ETF Shares are listed for trading on Cboe BZX
Exchange, Inc.; they can be purchased and sold through a broker.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official
closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which
market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods
deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
These procedures include obtaining quotations
from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts,
or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value
may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
2. Foreign Currency:
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the
valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the
effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or
liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. Futures Contracts:
The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures
contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for
liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility
of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades
futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin
requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open
contracts are noted in the Schedule of Investments.
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the six months ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during
the period.
4. Forward Currency
Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated with
these types of forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts.
The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting
arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be
repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts,
determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The
forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net
liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of
Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum
transfer amount, is adjusted and settled within two business days.
Forward currency contracts are
valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the
Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized
appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.
During the six months ended
February 28, 2026, the fund’s average investment in forward currency contracts represented 1% of net assets, based on the average of the notional amounts at each quarter-end during the period.
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ESG International Stock ETF
5. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
6. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
7. Securities Lending:
To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by
collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When
this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only
with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements
provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net
amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the
securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period
the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income
earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
8. Credit Facilities and
Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit
agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be
utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged
administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included
in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate,
the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based
upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to
be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
9. Other: Dividend
income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from
Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment
securities are those of the specific securities sold.
Taxes on foreign dividends and
capital gains have been provided for in accordance with the applicable countries’ tax rules and rates. Deferred foreign capital gains tax, if any, is accrued daily based upon net unrealized gains. The fund
has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries.
Amounts related to these reclaims are recorded when there are no significant uncertainties as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of
payment. Such tax reclaims and related professional fees, if any, are included in dividend income and other expenses, respectively.
B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Capital Management, LLC.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate
management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines
approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $138,000, representing less than 0.01% of the fund’s
net assets and 0.06% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
104
ESG International Stock ETF
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks | 525,702 | 5,750,636 | 2,474 | 6,278,812 |
| Preferred Stocks | 22,185 | 27,942 | — | 50,127 |
| Rights | 3 | — | — | 3 |
| Warrants | — | — | 4 | 4 |
| Temporary Cash Investments | 57,449 | — | — | 57,449 |
| Total | 605,339 | 5,778,578 | 2,478 | 6,386,395 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Futures Contracts1 | 672 | — | — | 672 |
| Forward Currency Contracts | — | 102 | — | 102 |
| Total | 672 | 102 | — | 774 |
| Liabilities | ||||
| Forward Currency Contracts | — | (469) | — | (469) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. At February 28, 2026, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:
| Statement of Assets and Liabilities | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Unrealized Appreciation—Futures Contracts1 | 672 | — | 672 |
| Unrealized Appreciation—Forward Currency Contracts | — | 102 | 102 |
| Total Assets | 672 | 102 | 774 |
| Unrealized Depreciation—Forward Currency Contracts | — | (469) | (469) |
| Total Liabilities | — | (469) | (469) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized net gain (loss) and
the change in unrealized appreciation (depreciation) on derivatives for the six months ended February 28, 2026, were:
| Realized Net Gain (Loss) on Derivatives | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Futures Contracts | 5,769 | — | 5,769 |
| Forward Currency Contracts | — | 447 | 447 |
| Realized Net Gain (Loss) on Derivatives | 5,769 | 447 | 6,216 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
| Futures Contracts | 258 | — | 258 |
| Forward Currency Contracts | — | (227) | (227) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | 258 | (227) | 31 |
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ESG International Stock ETF
F. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 4,416,914 |
| Gross Unrealized Appreciation | 2,339,385 |
| Gross Unrealized Depreciation | (369,599) |
| Net Unrealized Appreciation (Depreciation) | 1,969,786 |
The fund’s tax-basis
capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $202,278,000 that may be carried forward indefinitely
to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses
for the year, the losses will be added to the loss carryforward balance above.
G. During the six months ended February 28, 2026, the fund purchased $282,483,000 of investment securities and sold $176,086,000 of investment securities, other than temporary cash
investments. In addition, the fund purchased and sold investment securities of $245,660,000 and $0, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.
H. Capital shares issued and redeemed were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| Shares (000) | Shares (000) | ||
| Issued | 5,600 | 8,500 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | — | (700) | |
| Net Increase (Decrease) in Shares Outstanding | 5,600 | 7,800 |
I. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
J. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
K. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q43942 042026
106
Financial Statements
For the six-months ended
February 28, 2026
Vanguard Global Wellesley® Income Fund
Contents
Financial Statements | 1 |
Global Wellesley Income Fund
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
| Shares | Market Value• ($000) | |||||
| Common Stocks (37.3%) | ||||||
| Canada (2.6%) | ||||||
| Royal Bank of Canada | 46,743 | 7,815 | ||||
| Bank of Nova Scotia | 98,314 | 7,458 | ||||
| Enbridge Inc. | 77,729 | 4,130 | ||||
| 19,403 | ||||||
| France (2.7%) | ||||||
| TotalEnergies SE | 116,084 | 9,298 | ||||
| Engie SA | 238,360 | 8,143 | ||||
| Pernod Ricard SA | 31,001 | 2,861 | ||||
| 20,302 | ||||||
| Germany (1.2%) | ||||||
| Deutsche Telekom AG (Registered) | 125,742 | 5,050 | ||||
| Talanx AG | 34,841 | 4,382 | ||||
| 9,432 | ||||||
| Hong Kong (1.1%) | ||||||
| AIA Group Ltd. | 726,600 | 8,016 | ||||
| India (0.5%) | ||||||
| HDFC Bank Ltd. ADR | 122,119 | 3,890 | ||||
| Indonesia (0.4%) | ||||||
| Bank Central Asia Tbk. PT | 7,632,500 | 3,259 | ||||
| Italy (1.1%) | ||||||
| FinecoBank Banca Fineco SpA | 369,791 | 8,703 | ||||
| Japan (2.1%) | ||||||
| Isuzu Motors Ltd. | 440,512 | 8,210 | ||||
| Tokio Marine Holdings Inc. | 88,744 | 3,686 | ||||
| KDDI Corp. | 211,205 | 3,628 | ||||
| 15,524 | ||||||
| Netherlands (0.5%) | ||||||
| Koninklijke KPN NV | 683,973 | 3,888 | ||||
| Norway (1.6%) | ||||||
| Equinor ASA | 215,361 | 6,453 | ||||
| DNB Bank ASA | 184,682 | 5,846 | ||||
| 12,299 | ||||||
| South Africa (0.7%) | ||||||
| Anglo American plc | 100,138 | 4,996 | ||||
| Spain (0.8%) | ||||||
| Industria de Diseno Textil SA | 90,275 | 6,028 | ||||
| Taiwan (1.0%) | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 118,000 | 7,363 | ||||
| United Kingdom (5.5%) | ||||||
| AstraZeneca plc | 45,408 | 9,555 | ||||
| HSBC Holdings plc | 438,763 | 8,201 | ||||
| Reckitt Benckiser Group plc | 84,824 | 7,473 | ||||
| BAE Systems plc | 260,800 | 7,447 | ||||
| National Grid plc | 279,955 | 5,237 | ||||
| Unilever plc | 47,815 | 3,514 | ||||
| 41,427 | ||||||
| United States (15.5%) | ||||||
| Merck & Co. Inc. | 73,383 | 9,086 | ||||
| Lamar Advertising Co. Class A | 61,831 | 8,517 | ||||
1
Global Wellesley Income Fund
| Shares | Market Value• ($000) | |||||
| Roche Holding AG | 14,779 | 7,033 | ||||
| PACCAR Inc. | 54,693 | 6,896 | ||||
| Philip Morris International Inc. | 36,526 | 6,824 | ||||
| Johnson & Johnson | 26,574 | 6,602 | ||||
| Sempra | 65,553 | 6,311 | ||||
| Ares Management Corp. Class A | 55,501 | 6,217 | ||||
| Darden Restaurants Inc. | 27,918 | 5,970 | ||||
| M&T Bank Corp. | 26,424 | 5,734 | ||||
| TransUnion | 72,847 | 5,722 | ||||
| Deere & Co. | 8,207 | 5,168 | ||||
| Texas Instruments Inc. | 23,215 | 4,924 | ||||
| Kimberly-Clark Corp. | 40,989 | 4,568 | ||||
| Atmos Energy Corp. | 23,088 | 4,313 | ||||
| Cisco Systems Inc. | 53,797 | 4,275 | ||||
| Elevance Health Inc. | 13,263 | 4,244 | ||||
| Dominion Energy Inc. | 65,903 | 4,161 | ||||
| UnitedHealth Group Inc. | 14,014 | 4,110 | ||||
| Edison International | 42,137 | 3,149 | ||||
| Home Depot Inc. | 8,041 | 3,061 | ||||
| 116,885 | ||||||
| Total Common Stocks (Cost $186,781) | 281,415 | |||||
| Coupon | Maturity Date | Face Amount ($000) | ||||
| U.S. Government and Agency Obligations (10.7%) | ||||||
| 1,2 | Fannie Mae Pool | 4.120% | 10/1/2030 | 1,783 | 1,807 | |
| 1,2 | Fannie Mae Pool | 4.200% | 10/1/2030 | 3,740 | 3,802 | |
| 1,2 | Fannie Mae Pool | 4.340% | 8/1/2030 | 1,502 | 1,536 | |
| 1,2 | Fannie Mae Pool | 4.400% | 9/1/2030 | 1,775 | 1,819 | |
| 1,2 | Fannie Mae Pool | 4.420% | 8/1/2030 | 1,758 | 1,802 | |
| 1,2 | Fannie Mae Pool | 4.470% | 5/1/2030 | 1,524 | 1,561 | |
| 1,2 | Fannie Mae Pool | 4.830% | 10/1/2030 | 1,475 | 1,534 | |
| 1,2 | Fannie Mae REMICS | 2.500% | 5/25/2045 | 356 | 340 | |
| 1,2 | Fannie Mae REMICS | 3.000% | 2/25/2049 | 35 | 35 | |
| 1,2 | Fannie Mae REMICS | 3.500% | 6/25/2044 | 46 | 45 | |
| 1,2 | Freddie Mac REMICS | 1.750% | 9/15/2042 | 312 | 299 | |
| 1 | Ginnie Mae II Pool | 2.000% | 11/20/2050–2/20/2051 | 1,087 | 920 | |
| 1 | Ginnie Mae II Pool | 2.500% | 3/20/2051–12/20/2052 | 936 | 826 | |
| 1,3 | Ginnie Mae II Pool | 3.000% | 11/20/2049–3/15/2056 | 673 | 618 | |
| 1 | Ginnie Mae II Pool | 3.500% | 1/20/2052–3/20/2052 | 1,081 | 1,025 | |
| 1 | Ginnie Mae II Pool | 4.000% | 8/20/2052 | 663 | 643 | |
| 1 | Ginnie Mae II Pool | 5.000% | 9/20/2052 | 480 | 486 | |
| 1 | Ginnie Mae REMICS | 2.500% | 10/20/2049 | 987 | 903 | |
| 1 | Ginnie Mae REMICS | 2.750% | 9/20/2044 | 41 | 40 | |
| 1,2 | UMBS Pool | 2.000% | 4/1/2041–8/1/2051 | 3,640 | 3,100 | |
| 1,2 | UMBS Pool | 2.500% | 1/1/2052 | 1,476 | 1,291 | |
| 1,2 | UMBS Pool | 3.000% | 10/1/2051–4/1/2053 | 1,614 | 1,469 | |
| 1,2 | UMBS Pool | 3.500% | 7/1/2051–8/1/2052 | 932 | 885 | |
| 1,2 | UMBS Pool | 4.000% | 3/1/2046–8/1/2051 | 660 | 651 | |
| 1,2 | UMBS Pool | 4.500% | 1/1/2038–11/1/2052 | 1,319 | 1,326 | |
| 1,2,3 | UMBS Pool | 5.000% | 9/1/2052–3/25/2056 | 3,316 | 3,345 | |
| 1,2 | UMBS Pool | 5.500% | 1/1/2053–11/1/2054 | 6,554 | 6,691 | |
| 1,2 | UMBS Pool | 6.000% | 2/1/2053 | 2,242 | 2,323 | |
| United States Treasury Note/Bond | 1.750% | 8/15/2041 | 670 | 468 | ||
| United States Treasury Note/Bond | 2.000% | 11/15/2041 | 578 | 417 | ||
| United States Treasury Note/Bond | 2.375% | 5/15/2051 | 894 | 587 | ||
| United States Treasury Note/Bond | 2.500% | 2/15/2045–2/15/2046 | 3,672 | 2,672 | ||
| United States Treasury Note/Bond | 3.375% | 11/30/2027–8/15/2042 | 4,734 | 4,704 | ||
| 3 | United States Treasury Note/Bond | 3.500% | 1/31/2028–2/28/2031 | 8,786 | 8,799 | |
| United States Treasury Note/Bond | 3.750% | 1/31/2031 | 165 | 167 | ||
| United States Treasury Note/Bond | 4.000% | 1/31/2033–11/15/2042 | 4,228 | 4,253 | ||
| United States Treasury Note/Bond | 4.125% | 2/15/2036–8/15/2044 | 1,365 | 1,368 | ||
| United States Treasury Note/Bond | 4.250% | 2/15/2054 | 632 | 592 | ||
| United States Treasury Note/Bond | 4.375% | 8/15/2043 | 241 | 237 | ||
| 4 | United States Treasury Note/Bond | 4.500% | 2/15/2044–11/15/2054 | 1,529 | 1,513 | |
| 3 | United States Treasury Note/Bond | 4.625% | 5/15/2044–11/15/2055 | 10,789 | 10,815 | |
2
Global Wellesley Income Fund
3
Global Wellesley Income Fund
4
Global Wellesley Income Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Spain (0.4%) | ||||||
| 1,7 | Banco de Sabadell SA | 3.500% | 8/28/2026 | 1,700 | 2,022 | |
| 1 | Banco Santander SA | 5.365% | 7/15/2028 | 600 | 611 | |
| 7 | Cajamar Caja Rural SCC | 3.375% | 7/25/2029 | 200 | 242 | |
| 2,875 | ||||||
| Switzerland (0.3%) | ||||||
| 5 | UBS Group AG | 4.194% | 4/1/2031 | 1,147 | 1,144 | |
| 5 | UBS Group AG | 6.301% | 9/22/2034 | 929 | 1,019 | |
| 2,163 | ||||||
| United Kingdom (3.6%) | ||||||
| 1,9 | Anglian Water Osprey Financing plc | 6.750% | 8/27/2031 | 750 | 1,054 | |
| BAT Capital Corp. | 5.350% | 8/15/2032 | 215 | 226 | ||
| BAT Capital Corp. | 5.625% | 8/15/2035 | 1,463 | 1,542 | ||
| BAT Capital Corp. | 7.079% | 8/2/2043 | 629 | 715 | ||
| 1,7 | British Telecommunications plc | 3.875% | 1/20/2034 | 1,190 | 1,440 | |
| 1,7 | Hammerson plc | 3.500% | 4/15/2032 | 1,850 | 2,180 | |
| HSBC Holdings plc | 5.210% | 8/11/2028 | 925 | 939 | ||
| HSBC Holdings plc | 4.899% | 3/3/2029 | 410 | 417 | ||
| HSBC Holdings plc | 5.240% | 5/13/2031 | 1,456 | 1,508 | ||
| HSBC Holdings plc | 4.619% | 11/6/2031 | 255 | 258 | ||
| 1,9 | National Grid Electricity Transmission plc | 2.000% | 9/16/2038 | 635 | 581 | |
| 1,9 | National Grid Electricity Transmission plc | 2.000% | 4/17/2040 | 310 | 269 | |
| 1,7 | National Grid plc | 0.163% | 1/20/2028 | 925 | 1,046 | |
| 1,7 | National Grid plc | 3.875% | 1/16/2029 | 650 | 792 | |
| 1,7 | Nationwide Building Society | 3.770% | 1/27/2036 | 1,265 | 1,508 | |
| Reynolds American Inc. | 5.850% | 8/15/2045 | 55 | 55 | ||
| 1,7 | Severn Trent Utilities Finance plc | 4.000% | 3/5/2034 | 480 | 586 | |
| 1,9 | Severn Trent Utilities Finance plc | 5.875% | 7/31/2038 | 566 | 782 | |
| Smith & Nephew plc | 5.400% | 3/20/2034 | 456 | 475 | ||
| 9 | South West Water Finance plc | 5.750% | 12/11/2032 | 600 | 841 | |
| 1,9 | South West Water Finance plc | 6.375% | 8/5/2041 | 640 | 891 | |
| 1,9 | SW Finance I plc | 5.750% | 11/19/2030 | 1,200 | 1,636 | |
| 9 | SW Finance I plc | 7.750% | 10/31/2031 | 450 | 651 | |
| 1,9 | SW Finance I plc | 6.875% | 8/7/2032 | 850 | 1,209 | |
| 1,9 | SW Finance I plc | 7.000% | 4/16/2040 | 500 | 694 | |
| 1,7 | United Utilities Water Finance plc | 3.750% | 5/23/2034 | 990 | 1,185 | |
| 9 | Westfield Stratford City Finance No. 2 plc | 1.642% | 8/4/2026 | 645 | 859 | |
| 1,9 | Yorkshire Water Finance plc | 6.375% | 11/18/2034 | 305 | 431 | |
| 1,9 | Yorkshire Water Finance plc | 5.500% | 4/28/2035 | 1,575 | 2,078 | |
| 26,848 | ||||||
| United States (20.8%) | ||||||
| 11 | Aflac Inc. | 1.726% | 10/18/2030 | 250,000 | 1,573 | |
| Alabama Power Co. | 4.300% | 1/2/2046 | 425 | 364 | ||
| 7 | Alphabet Inc. | 2.500% | 5/6/2029 | 1,030 | 1,215 | |
| Alphabet Inc. | 5.250% | 5/15/2055 | 50 | 48 | ||
| 9 | Alphabet Inc. | 5.875% | 2/13/2058 | 1,075 | 1,471 | |
| Alphabet Inc. | 5.300% | 5/15/2065 | 25 | 24 | ||
| American Express Co. | 4.731% | 4/25/2029 | 470 | 478 | ||
| American Express Co. | 5.043% | 5/1/2034 | 22 | 23 | ||
| American Express Co. | 5.442% | 1/30/2036 | 522 | 544 | ||
| American Express Co. | 4.804% | 10/24/2036 | 206 | 204 | ||
| American International Group Inc. | 4.850% | 5/7/2030 | 245 | 252 | ||
| American International Group Inc. | 3.400% | 6/30/2030 | 1,149 | 1,119 | ||
| 7 | American Medical Systems Europe BV | 3.500% | 3/8/2032 | 195 | 235 | |
| 5 | American Transmission Systems Inc. | 2.650% | 1/15/2032 | 605 | 553 | |
| Arizona Public Service Co. | 3.750% | 5/15/2046 | 325 | 253 | ||
| Arizona Public Service Co. | 5.900% | 8/15/2055 | 390 | 401 | ||
| Arthur J Gallagher & Co. | 2.400% | 11/9/2031 | 762 | 683 | ||
| Arthur J Gallagher & Co. | 6.500% | 2/15/2034 | 1,055 | 1,163 | ||
| AT&T Inc. | 4.300% | 12/15/2042 | 972 | 837 | ||
| AT&T Inc. | 4.650% | 6/1/2044 | 640 | 567 | ||
| AT&T Inc. | 5.550% | 11/1/2045 | 755 | 743 | ||
| AT&T Inc. | 4.750% | 5/15/2046 | 995 | 874 | ||
| 5 | Athene Global Funding | 2.646% | 10/4/2031 | 1,258 | 1,119 | |
| 5 | Aviation Capital Group LLC | 5.375% | 7/15/2029 | 2,596 | 2,678 | |
| Bank of America Corp. | 5.872% | 9/15/2034 | 1,409 | 1,512 | ||
| 7 | Becton Dickinson & Co. | 3.828% | 6/7/2032 | 1,645 | 1,998 | |
| 7 | BMS Ireland Capital Funding DAC | 3.363% | 11/10/2033 | 1,220 | 1,448 | |
5
Global Wellesley Income Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 7 | BMS Ireland Capital Funding DAC | 4.581% | 11/10/2055 | 1,070 | 1,259 | |
| Boeing Co. | 5.705% | 5/1/2040 | 753 | 784 | ||
| Boeing Co. | 6.858% | 5/1/2054 | 1,128 | 1,294 | ||
| BP Capital Markets America Inc. | 5.227% | 11/17/2034 | 505 | 528 | ||
| BP Capital Markets America Inc. | 3.001% | 3/17/2052 | 235 | 154 | ||
| 5 | Brighthouse Financial Global Funding | 5.650% | 6/10/2029 | 1,530 | 1,563 | |
| CBRE Services Inc. | 4.900% | 1/15/2033 | 1,450 | 1,467 | ||
| 1 | CenterPoint Energy Houston Electric LLC | 4.850% | 4/1/2036 | 726 | 729 | |
| Charter Communications Operating LLC | 2.250% | 1/15/2029 | 1,041 | 983 | ||
| Charter Communications Operating LLC | 5.050% | 3/30/2029 | 1,542 | 1,565 | ||
| Citizens Financial Group Inc. | 5.841% | 1/23/2030 | 265 | 277 | ||
| Citizens Financial Group Inc. | 6.645% | 4/25/2035 | 2,050 | 2,267 | ||
| Cleco Corporate Holdings LLC | 3.375% | 9/15/2029 | 270 | 257 | ||
| 5 | CNO Global Funding | 4.875% | 12/10/2027 | 210 | 212 | |
| 5 | Columbia Pipelines Holding Co. LLC | 5.097% | 10/1/2031 | 350 | 360 | |
| 5 | Columbia Pipelines Holding Co. LLC | 4.999% | 11/17/2032 | 190 | 194 | |
| 5 | Columbia Pipelines Operating Co. LLC | 5.927% | 8/15/2030 | 225 | 240 | |
| 5 | Columbia Pipelines Operating Co. LLC | 6.497% | 8/15/2043 | 1,022 | 1,104 | |
| Consolidated Edison Co. of New York Inc. | 5.700% | 5/15/2054 | 675 | 684 | ||
| CRH SMW Finance DAC | 5.125% | 1/9/2030 | 780 | 807 | ||
| Crown Castle Inc. | 5.100% | 5/1/2033 | 362 | 369 | ||
| Crown Castle Inc. | 5.800% | 3/1/2034 | 384 | 407 | ||
| Crown Castle Inc. | 5.200% | 9/1/2034 | 522 | 534 | ||
| Diamondback Energy Inc. | 3.500% | 12/1/2029 | 425 | 416 | ||
| Diamondback Energy Inc. | 5.750% | 4/18/2054 | 1,175 | 1,146 | ||
| Dominion Energy Inc. | 4.600% | 5/15/2028 | 400 | 406 | ||
| 1 | Dominion Energy Inc. | 3.375% | 4/1/2030 | 92 | 89 | |
| 1 | Dominion Energy Inc. | 4.900% | 8/1/2041 | 247 | 231 | |
| Dominion Energy South Carolina Inc. | 5.450% | 2/1/2041 | 250 | 255 | ||
| Dominion Energy South Carolina Inc. | 4.600% | 6/15/2043 | 280 | 257 | ||
| DTE Energy Co. | 5.200% | 4/1/2030 | 495 | 514 | ||
| Duke Energy Carolinas LLC | 6.050% | 4/15/2038 | 517 | 565 | ||
| Duke Energy Corp. | 4.950% | 9/15/2035 | 230 | 231 | ||
| Duke Energy Corp. | 3.300% | 6/15/2041 | 418 | 326 | ||
| Duke Energy Corp. | 5.000% | 8/15/2052 | 906 | 804 | ||
| Duke Energy Corp. | 5.700% | 9/15/2055 | 215 | 210 | ||
| Duke Energy Progress LLC | 4.200% | 8/15/2045 | 350 | 296 | ||
| Energy Transfer LP | 5.200% | 4/1/2030 | 90 | 94 | ||
| Energy Transfer LP | 5.350% | 1/15/2036 | 230 | 234 | ||
| Energy Transfer LP | 5.150% | 3/15/2045 | 581 | 526 | ||
| Energy Transfer LP | 6.125% | 12/15/2045 | 567 | 574 | ||
| Enterprise Products Operating LLC | 5.200% | 1/15/2036 | 335 | 345 | ||
| Enterprise Products Operating LLC | 4.850% | 3/15/2044 | 1,096 | 1,021 | ||
| 5 | Equitable America Global Funding | 3.950% | 9/15/2027 | 270 | 270 | |
| Eversource Energy | 5.950% | 7/15/2034 | 557 | 595 | ||
| Extra Space Storage LP | 5.700% | 4/1/2028 | 892 | 921 | ||
| 5 | FirstEnergy Pennsylvania Electric Co. | 5.200% | 4/1/2028 | 40 | 41 | |
| 5 | FirstEnergy Pennsylvania Electric Co. | 3.600% | 6/1/2029 | 124 | 122 | |
| 5 | Fortitude Global Funding | 4.625% | 10/6/2028 | 840 | 842 | |
| 5 | Foundry JV Holdco LLC | 5.900% | 1/25/2030 | 200 | 211 | |
| 5 | Foundry JV Holdco LLC | 6.150% | 1/25/2032 | 301 | 323 | |
| 5 | Foundry JV Holdco LLC | 5.900% | 1/25/2033 | 1,105 | 1,170 | |
| 5 | Foundry JV Holdco LLC | 6.250% | 1/25/2035 | 976 | 1,051 | |
| 5 | Foundry JV Holdco LLC | 6.200% | 1/25/2037 | 200 | 214 | |
| 5 | Foundry JV Holdco LLC | 6.400% | 1/25/2038 | 235 | 255 | |
| 5 | Foundry JV Holdco LLC | 6.300% | 1/25/2039 | 954 | 1,028 | |
| Georgia Power Co. | 4.850% | 3/15/2031 | 415 | 429 | ||
| Georgia Power Co. | 4.950% | 5/17/2033 | 515 | 531 | ||
| Georgia Power Co. | 4.300% | 3/15/2042 | 846 | 759 | ||
| 1 | Georgia Power Co. | 3.700% | 1/30/2050 | 35 | 27 | |
| Georgia Power Co. | 5.125% | 5/15/2052 | 700 | 661 | ||
| GLP Capital LP | 5.300% | 1/15/2029 | 1,173 | 1,197 | ||
| GLP Capital LP | 3.250% | 1/15/2032 | 658 | 601 | ||
| GLP Capital LP | 5.250% | 2/15/2033 | 355 | 359 | ||
| GLP Capital LP | 6.750% | 12/1/2033 | 1,029 | 1,114 | ||
| Goldman Sachs Group Inc. | 5.218% | 4/23/2031 | 1,952 | 2,021 | ||
| Goldman Sachs Group Inc. | 4.516% | 1/21/2032 | 350 | 352 | ||
| 1,7 | Goldman Sachs Group Inc. | 3.984% | 12/18/2036 | 1,750 | 2,093 | |
| Goldman Sachs Group Inc. | 5.065% | 1/21/2037 | 2,563 | 2,580 | ||
| 5 | Gray Oak Pipeline LLC | 3.450% | 10/15/2027 | 702 | 695 | |
6
Global Wellesley Income Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| HCA Inc. | 4.600% | 11/15/2032 | 1,466 | 1,467 | ||
| HCA Inc. | 5.125% | 6/15/2039 | 922 | 898 | ||
| Healthpeak OP LLC | 4.750% | 1/15/2033 | 1,440 | 1,446 | ||
| Healthpeak OP LLC | 5.375% | 2/15/2035 | 1,175 | 1,211 | ||
| Home Depot Inc. | 3.300% | 4/15/2040 | 620 | 514 | ||
| 5 | Hyundai Capital America | 4.250% | 9/18/2028 | 4,275 | 4,294 | |
| Intel Corp. | 4.600% | 3/25/2040 | 1,440 | 1,309 | ||
| JBS NV | 3.000% | 5/15/2032 | 220 | 200 | ||
| JBS NV | 5.750% | 4/1/2033 | 2,677 | 2,813 | ||
| JBS NV | 6.750% | 3/15/2034 | 135 | 150 | ||
| JBS NV | 5.950% | 4/20/2035 | 120 | 127 | ||
| JBS NV | 6.250% | 3/1/2056 | 345 | 353 | ||
| JBS NV | 6.375% | 4/15/2066 | 305 | 311 | ||
| 1,7 | John Deere Bank SA | 3.300% | 10/15/2029 | 820 | 989 | |
| 7 | Johnson & Johnson | 3.350% | 2/26/2037 | 505 | 594 | |
| JPMorgan Chase & Co. | 6.087% | 10/23/2029 | 919 | 965 | ||
| JPMorgan Chase & Co. | 5.140% | 1/24/2031 | 1,363 | 1,414 | ||
| JPMorgan Chase & Co. | 4.912% | 7/25/2033 | 1,522 | 1,561 | ||
| JPMorgan Chase & Co. | 6.254% | 10/23/2034 | 2,118 | 2,328 | ||
| JPMorgan Chase & Co. | 5.572% | 4/22/2036 | 1,542 | 1,628 | ||
| 1 | JPMorgan Chase & Co. | 3.964% | 11/15/2048 | 500 | 407 | |
| 1 | Kaiser Foundation Hospitals | 2.810% | 6/1/2041 | 710 | 542 | |
| Kenvue Inc. | 4.900% | 3/22/2033 | 641 | 662 | ||
| Kenvue Inc. | 5.050% | 3/22/2053 | 617 | 575 | ||
| Kilroy Realty LP | 3.050% | 2/15/2030 | 607 | 564 | ||
| Kilroy Realty LP | 2.650% | 11/15/2033 | 553 | 452 | ||
| Kilroy Realty LP | 5.875% | 10/15/2035 | 1,159 | 1,142 | ||
| 5 | Liberty Mutual Group Inc. | 4.569% | 2/1/2029 | 462 | 466 | |
| 5 | Lincoln Financial Global Funding | 4.625% | 5/28/2028 | 275 | 277 | |
| LXP Industrial Trust | 6.750% | 11/15/2028 | 385 | 408 | ||
| 5 | Mars Inc. | 5.000% | 3/1/2032 | 581 | 601 | |
| 5 | Mars Inc. | 5.200% | 3/1/2035 | 1,363 | 1,412 | |
| 5 | Mars Inc. | 5.650% | 5/1/2045 | 1,185 | 1,213 | |
| 5 | Mars Inc. | 5.700% | 5/1/2055 | 584 | 592 | |
| Meta Platforms Inc. | 4.600% | 11/15/2032 | 230 | 234 | ||
| Meta Platforms Inc. | 5.500% | 11/15/2045 | 565 | 558 | ||
| 1 | Morgan Stanley | 3.772% | 1/24/2029 | 175 | 174 | |
| Morgan Stanley | 4.238% | 1/9/2030 | 2,320 | 2,327 | ||
| Morgan Stanley | 4.493% | 1/16/2032 | 2,380 | 2,392 | ||
| 1 | Morgan Stanley | 2.511% | 10/20/2032 | 1,571 | 1,424 | |
| Morgan Stanley | 5.587% | 1/18/2036 | 1,360 | 1,429 | ||
| Morgan Stanley Private Bank NA | 4.734% | 7/18/2031 | 365 | 372 | ||
| 5 | Mutual of Omaha Cos. Global Funding | 5.000% | 4/1/2030 | 435 | 446 | |
| NiSource Inc. | 5.250% | 3/30/2028 | 255 | 261 | ||
| NiSource Inc. | 5.350% | 7/15/2035 | 774 | 799 | ||
| NiSource Inc. | 5.850% | 4/1/2055 | 859 | 867 | ||
| 5 | NLG Global Funding | 4.350% | 9/15/2030 | 655 | 656 | |
| 5 | Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/2047 | 280 | 224 | |
| 5 | Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/2059 | 12 | 9 | |
| 5 | Oglethorpe Power Corp. | 6.191% | 1/1/2031 | 178 | 189 | |
| Oglethorpe Power Corp. | 4.550% | 6/1/2044 | 20 | 17 | ||
| Oglethorpe Power Corp. | 4.250% | 4/1/2046 | 81 | 65 | ||
| 5 | Ohio Edison Co. | 4.950% | 12/15/2029 | 105 | 108 | |
| 5 | ONEOK Inc. | 5.625% | 1/15/2028 | 916 | 936 | |
| ONEOK Inc. | 4.750% | 10/15/2031 | 425 | 431 | ||
| ONEOK Inc. | 6.625% | 9/1/2053 | 504 | 534 | ||
| Oracle Corp. | 4.550% | 2/4/2029 | 395 | 396 | ||
| Oracle Corp. | 5.875% | 9/26/2045 | 124 | 112 | ||
| Oracle Corp. | 6.550% | 2/4/2046 | 300 | 293 | ||
| Oracle Corp. | 4.000% | 7/15/2046 | 45 | 31 | ||
| Oracle Corp. | 4.000% | 11/15/2047 | 45 | 31 | ||
| Oracle Corp. | 3.600% | 4/1/2050 | 1,475 | 922 | ||
| Oracle Corp. | 3.950% | 3/25/2051 | 214 | 141 | ||
| Oracle Corp. | 5.550% | 2/6/2053 | 136 | 114 | ||
| Oracle Corp. | 5.375% | 9/27/2054 | 115 | 93 | ||
| Oracle Corp. | 6.000% | 8/3/2055 | 115 | 101 | ||
| Oracle Corp. | 6.850% | 2/4/2066 | 375 | 360 | ||
| Pacific Gas & Electric Co. | 5.200% | 5/1/2036 | 50 | 50 | ||
| Pacific Gas & Electric Co. | 4.500% | 7/1/2040 | 237 | 210 | ||
| Pacific Gas & Electric Co. | 4.750% | 2/15/2044 | 375 | 325 | ||
7
Global Wellesley Income Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Pacific Gas & Electric Co. | 4.950% | 7/1/2050 | 2,451 | 2,115 | ||
| Pacific Gas & Electric Co. | 6.000% | 5/1/2056 | 60 | 59 | ||
| 5 | Penske Truck Leasing Co. LP | 6.050% | 8/1/2028 | 370 | 386 | |
| 5 | Penske Truck Leasing Co. LP | 5.250% | 7/1/2029 | 2,010 | 2,075 | |
| 5 | Penske Truck Leasing Co. LP | 5.250% | 2/1/2030 | 220 | 228 | |
| 5 | Penske Truck Leasing Co. LP | 4.550% | 1/15/2031 | 1,675 | 1,686 | |
| 7 | Pfizer Netherlands International Finance BV | 4.250% | 5/19/2045 | 750 | 900 | |
| Philip Morris International Inc. | 4.250% | 10/29/2032 | 1,156 | 1,153 | ||
| Philip Morris International Inc. | 4.900% | 11/1/2034 | 1,447 | 1,475 | ||
| 5 | Pricoa Global Funding I | 4.700% | 5/28/2030 | 150 | 153 | |
| 1,7 | Prologis Euro Finance LLC | 4.250% | 1/31/2043 | 610 | 714 | |
| 5 | Protective Life Global Funding | 4.803% | 6/5/2030 | 335 | 342 | |
| 5 | Protective Life Global Funding | 5.432% | 1/14/2032 | 1,379 | 1,449 | |
| Providence St. Joseph Health Obligated Group | 5.403% | 10/1/2033 | 428 | 448 | ||
| 1 | Prudential Financial Inc. | 3.700% | 3/13/2051 | 830 | 606 | |
| Public Service Co. of Oklahoma | 5.450% | 1/15/2036 | 1,395 | 1,445 | ||
| 1 | Public Service Electric & Gas Co. | 3.100% | 3/15/2032 | 895 | 841 | |
| Public Service Enterprise Group Inc. | 5.200% | 4/1/2029 | 570 | 589 | ||
| Public Service Enterprise Group Inc. | 5.450% | 4/1/2034 | 550 | 575 | ||
| QUALCOMM Inc. | 4.500% | 5/20/2052 | 160 | 135 | ||
| Realty Income Corp. | 3.250% | 6/15/2029 | 467 | 457 | ||
| 7 | Realty Income Corp. | 4.875% | 7/6/2030 | 1,815 | 2,299 | |
| 5 | RGA Global Funding | 5.448% | 5/24/2029 | 580 | 602 | |
| 5 | RGA Global Funding | 5.250% | 1/9/2030 | 710 | 736 | |
| 5 | Sammons Financial Group Global Funding | 4.950% | 6/12/2030 | 1,380 | 1,407 | |
| 5 | SBA Tower Trust | 1.631% | 11/15/2026 | 615 | 604 | |
| 1 | SCE Recovery Funding LLC | 0.861% | 11/15/2031 | 143 | 131 | |
| 1 | SCE Recovery Funding LLC | 1.942% | 5/15/2038 | 105 | 84 | |
| 1 | SCE Recovery Funding LLC | 2.510% | 11/15/2043 | 60 | 43 | |
| 1 | Shell Finance US Inc. | 4.000% | 5/10/2046 | 275 | 227 | |
| 5 | Shell Finance US Inc. | 3.000% | 11/26/2051 | 340 | 225 | |
| 3 | Southern California Edison Co. | 4.800% | 3/15/2033 | 815 | 818 | |
| Southern California Edison Co. | 4.650% | 10/1/2043 | 638 | 554 | ||
| Southern California Edison Co. | 4.000% | 4/1/2047 | 730 | 562 | ||
| Southern California Edison Co. | 6.200% | 9/15/2055 | 39 | 40 | ||
| 1 | Southern Co. Gas Capital Corp. | 5.100% | 9/15/2035 | 90 | 92 | |
| 1 | SSM Health Care Corp. | 3.823% | 6/1/2027 | 380 | 380 | |
| 5 | Texas Electric Market Stabilization Funding N LLC | 4.265% | 8/1/2034 | 663 | 669 | |
| T-Mobile USA Inc. | 3.875% | 4/15/2030 | 583 | 578 | ||
| T-Mobile USA Inc. | 5.050% | 7/15/2033 | 560 | 577 | ||
| T-Mobile USA Inc. | 5.875% | 11/15/2055 | 553 | 558 | ||
| Toledo Hospital | 5.750% | 11/15/2038 | 70 | 71 | ||
| 5 | Trans-Allegheny Interstate Line Co. | 5.000% | 1/15/2031 | 426 | 440 | |
| 1 | United Airlines Pass-Through Trust Class B Series 2018-1 | 4.600% | 3/1/2026 | 26 | 26 | |
| 5 | VICI Properties LP | 4.625% | 12/1/2029 | 1,009 | 1,008 | |
| 1 | Virginia Electric & Power Co. | 4.900% | 9/15/2035 | 1,070 | 1,073 | |
| 1 | Virginia Electric & Power Co. | 5.600% | 9/15/2055 | 480 | 470 | |
| 1,8 | Walt Disney Co. | 3.057% | 3/30/2027 | 1,225 | 901 | |
| 1,8 | Wells Fargo & Co. | 2.975% | 5/19/2026 | 600 | 440 | |
| 1 | Wells Fargo & Co. | 4.808% | 7/25/2028 | 831 | 840 | |
| Westinghouse Air Brake Technologies Corp. | 4.900% | 5/29/2030 | 65 | 67 | ||
| 5 | Whistler Pipeline LLC | 5.400% | 9/30/2029 | 841 | 874 | |
| 5 | Whistler Pipeline LLC | 5.700% | 9/30/2031 | 565 | 593 | |
| 156,755 | ||||||
| Total Corporate Bonds (Cost $258,115) | 264,212 | |||||
| Sovereign Bonds (9.9%) | ||||||
| Australia (1.3%) | ||||||
| 1,12 | Commonwealth of Australia | 2.750% | 11/21/2027 | 160 | 111 | |
| 1,12 | Commonwealth of Australia | 2.250% | 5/21/2028 | 1,183 | 808 | |
| 1,12 | Commonwealth of Australia | 2.750% | 11/21/2028 | 2,209 | 1,516 | |
| 1,12 | Commonwealth of Australia | 3.250% | 4/21/2029 | 3,779 | 2,616 | |
| 1,12 | Commonwealth of Australia | 1.000% | 11/21/2031 | 181 | 108 | |
| 1,12 | Commonwealth of Australia | 3.750% | 5/21/2034 | 1,018 | 686 | |
| 1,12 | Commonwealth of Australia | 3.500% | 12/21/2034 | 1,306 | 858 | |
| 1,12 | Commonwealth of Australia | 4.250% | 12/21/2035 | 4,619 | 3,192 | |
| 9,895 | ||||||
| Bermuda (0.0%) | ||||||
| 1,5 | Bermuda | 2.375% | 8/20/2030 | 200 | 184 | |
8
Global Wellesley Income Fund
9
Global Wellesley Income Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 1,7 | European Union | 2.625% | 2/4/2048 | 2,605 | 2,585 | |
| 4,767 | ||||||
| Total Sovereign Bonds (Cost $74,132) | 74,710 | |||||
| Taxable Municipal Bonds (0.7%) | ||||||
| United States (0.7%) | ||||||
| Broward County FL Airport System Revenue | 3.477% | 10/1/2043 | 80 | 70 | ||
| Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue | 6.899% | 12/1/2040 | 32 | 36 | ||
| Dallas-Fort Worth TX International Airport Revenue | 3.089% | 11/1/2040 | 60 | 51 | ||
| Dallas-Fort Worth TX International Airport Revenue | 4.087% | 11/1/2051 | 30 | 26 | ||
| Georgia Municipal Electric Power Authority Revenue | 6.637% | 4/1/2057 | 511 | 564 | ||
| Golden State Tobacco Securitization Corp. California Revenue | 3.000% | 6/1/2046 | 60 | 55 | ||
| Grand Parkway Transportation Corp. Texas System Toll Revenue | 3.236% | 10/1/2052 | 210 | 154 | ||
| Illinois GO | 5.100% | 6/1/2033 | 3,049 | 3,158 | ||
| New York Metropolitan Transportation Authority Revenue | 6.814% | 11/15/2040 | 195 | 223 | ||
| New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.668% | 11/15/2039 | 155 | 172 | ||
| 13 | Philadelphia PA Authority for Industrial Development Revenue | 6.550% | 10/15/2028 | 525 | 558 | |
| Port Authority of New York & New Jersey Revenue | 3.175% | 7/15/2060 | 160 | 109 | ||
| Texas Natural Gas Securitization Finance Corp. Revenue (Winter Storm Uri) | 5.169% | 4/1/2041 | 135 | 141 | ||
| Total Taxable Municipal Bonds (Cost $5,487) | 5,317 | |||||
| Shares | ||||||
| Temporary Cash Investments (4.0%) | ||||||
| Money Market Fund (4.0%) | ||||||
| 14 | Vanguard Market Liquidity Fund (Cost $30,361) | 3.693% | 303,643 | 30,361 | ||
| Total Investments (99.6%) (Cost $649,364) | 751,577 | |||||
| Other Assets and Liabilities—Net (0.4%) | 2,950 | |||||
| Net Assets (100%) | 754,527 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| 1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 2 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2026. |
| 4 | Securities with a value of $331 have been segregated as initial margin for open futures contracts. |
| 5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2026, the aggregate value was $80,173, representing 10.6% of net assets. |
| 6 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 7 | Face amount denominated in euro. |
| 8 | Face amount denominated in Canadian dollars. |
| 9 | Face amount denominated in British pounds. |
| 10 | Face amount denominated in Swiss francs. |
| 11 | Face amount denominated in Japanese yen. |
| 12 | Face amount denominated in Australian dollars. |
| 13 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 14 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| ADR—American Depositary Receipt. | |
| DAC—Designated Activity Company. | |
| GO—General Obligation Bond. | |
| REMICS—Real Estate Mortgage Investment Conduits. | |
| SOFR30A—30 Day Average Secured Overnight Financing Rate. | |
| UMBS—Uniform Mortgage-Backed Securities. |
10
Global Wellesley Income Fund
Derivative Financial
Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Short Futures Contracts | ||||
| 5-Year U.S. Treasury Note | June 2026 | (44) | (4,846) | (17) |
| 10-Year U.S. Treasury Note | June 2026 | (10) | (1,138) | (7) |
| Ultra 10-Year U.S. Treasury Note | June 2026 | (26) | (3,035) | (20) |
| (44) | ||||
| Forward Currency Contracts | |||||||
| Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
| Counterparty | Receive | Deliver | |||||
| JPMorgan Chase Bank, N.A. | 3/31/2026 | CAD | 400 | USD | 293 | 1 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | EUR | 118 | USD | 139 | — | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 14,671 | AUD | 20,762 | — | (103) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 12,633 | CAD | 17,273 | — | (45) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 2,474 | CHF | 1,907 | — | (15) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 112,003 | EUR | 94,822 | — | (215) |
| Goldman Sachs International | 3/31/2026 | USD | 863 | EUR | 730 | — | (1) |
| Goldman Sachs International | 3/31/2026 | USD | 14,305 | GBP | 10,593 | 29 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | AUD | 1,970 | GBP | 1,031 | 12 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | EUR | 279 | GBP | 244 | 1 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 5,358 | JPY | 825,457 | 59 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | AUD | 1,919 | JPY | 209,400 | 22 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | GBP | 312 | JPY | 65,000 | 3 | — |
| 127 | (379) | ||||||
| AUD—Australian dollar. |
| CAD—Canadian dollar. |
| CHF—Swiss franc. |
| EUR—euro. |
| GBP—British pound. |
| JPY—Japanese yen. |
| USD—U.S. dollar. |
At February 28, 2026, the
counterparties had deposited in segregated accounts securities with a value of $1,127 in connection with open forward currency contracts.
See accompanying Notes,
which are an integral part of the Financial Statements.
11
Global Wellesley Income Fund
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value | |
| Unaffiliated Issuers (Cost $619,003) | 721,216 |
| Affiliated Issuers (Cost $30,361) | 30,361 |
| Total Investments in Securities | 751,577 |
| Investment in Vanguard | 17 |
| Cash | 30 |
| Foreign Currency, at Value (Cost $2,004) | 2,009 |
| Receivables for Accrued Income | 5,576 |
| Receivables for Capital Shares Issued | 1,512 |
| Unrealized Appreciation—Forward Currency Contracts | 127 |
| Total Assets | 760,848 |
| Liabilities | |
| Payables for Investment Securities Purchased | 5,491 |
| Payables for Capital Shares Redeemed | 154 |
| Payables to Investment Advisor | 190 |
| Payables to Vanguard | 50 |
| Variation Margin Payable—Futures Contracts | 57 |
| Unrealized Depreciation—Forward Currency Contracts | 379 |
| Total Liabilities | 6,321 |
| Net Assets | 754,527 |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 647,295 |
| Total Distributable Earnings (Loss) | 107,232 |
| Net Assets | 754,527 |
| Investor Shares—Net Assets | |
| Applicable to 4,396,876 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 108,068 |
| Net Asset Value Per Share—Investor Shares | $24.58 |
| Admiral™ Shares—Net Assets | |
| Applicable to 21,037,414 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 646,459 |
| Net Asset Value Per Share—Admiral Shares | $30.73 |
See accompanying Notes,
which are an integral part of the Financial Statements.
12
Global Wellesley Income Fund
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Dividends1 | 3,394 |
| Interest2 | 8,990 |
| Securities Lending—Net | — |
| Total Income | 12,384 |
| Expenses | |
| Investment Advisory Fees—Note B | |
| Basic Fee | 410 |
| Performance Adjustment | (30) |
| The Vanguard Group—Note C | |
| Management and Administrative—Investor Shares | 126 |
| Management and Administrative—Admiral Shares | 415 |
| Marketing and Distribution—Investor Shares | 4 |
| Marketing and Distribution—Admiral Shares | 14 |
| Custodian Fees | 19 |
| Shareholders’ Reports—Investor Shares | 6 |
| Shareholders’ Reports—Admiral Shares | 7 |
| Trustees’ Fees and Expenses | — |
| Other Expenses | 18 |
| Total Expenses | 989 |
| Net Investment Income | 11,395 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold2 | 17,693 |
| Futures Contracts | (194) |
| Forward Currency Contracts | (1,542) |
| Foreign Currencies | 34 |
| Realized Net Gain (Loss) | 15,991 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities2 | 31,683 |
| Futures Contracts | 18 |
| Forward Currency Contracts | 961 |
| Foreign Currencies | (6) |
| Change in Unrealized Appreciation (Depreciation) | 32,656 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 60,042 |
| 1 | Dividends are net of foreign withholding taxes of $142. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $501, $2, and ($1), respectively. Purchases and sales are for temporary cash investment purposes. |
See accompanying Notes,
which are an integral part of the Financial Statements.
13
Global Wellesley Income Fund
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 11,395 | 21,746 | |
| Realized Net Gain (Loss) | 15,991 | 10,086 | |
| Change in Unrealized Appreciation (Depreciation) | 32,656 | 9,752 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 60,042 | 41,584 | |
| Distributions | |||
| Investor Shares | (2,009) | (3,125) | |
| Admiral Shares | (12,403) | (18,249) | |
| Total Distributions | (14,412) | (21,374) | |
| Capital Share Transactions | |||
| Investor Shares | 9,077 | 5,986 | |
| Admiral Shares | 60,880 | 61,896 | |
| Net Increase (Decrease) from Capital Share Transactions | 69,957 | 67,882 | |
| Total Increase (Decrease) | 115,587 | 88,092 | |
| Net Assets | |||
| Beginning of Period | 638,940 | 550,848 | |
| End of Period | 754,527 | 638,940 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
14
Global Wellesley Income Fund
Financial Highlights
| Investor Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $23.05 | $22.31 | $20.38 | $19.82 | $22.22 | $20.42 |
| Investment Operations | ||||||
| Net Investment Income1 | .379 | .826 | .781 | .645 | .474 | .446 |
| Net Realized and Unrealized Gain (Loss) on Investments | 1.644 | .734 | 1.862 | .375 | (2.430) | 1.747 |
| Total from Investment Operations | 2.023 | 1.560 | 2.643 | 1.020 | (1.956) | 2.193 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.493) | (.820) | (.713) | (.460) | (.444) | (.393) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.493) | (.820) | (.713) | (.460) | (.444) | (.393) |
| Net Asset Value, End of Period | $24.58 | $23.05 | $22.31 | $20.38 | $19.82 | $22.22 |
| Total Return2 | 8.92% | 7.20% | 13.25% | 5.20% | -8.94% | 10.83% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $108 | $92 | $84 | $81 | $81 | $91 |
| Ratio of Total Expenses to Average Net Assets3 | 0.41% | 0.43% | 0.44% | 0.44%4 | 0.42%4 | 0.41% |
| Ratio of Net Investment Income to Average Net Assets | 3.24% | 3.71% | 3.73% | 3.20% | 2.23% | 2.09% |
| Portfolio Turnover Rate5 | 51% | 102% | 106% | 150% | 119% | 99% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | Includes performance-based investment advisory fee increases (decreases) of (0.01%), 0.01%, 0.02%, 0.02%, 0.00%, and (0.01%). |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.44% and 0.42%, respectively. |
| 5 | Includes 1%, 4%, 4%, 28%, 27%, and 33%, respectively, attributable to mortgage-dollar-roll activity. |
See accompanying Notes,
which are an integral part of the Financial Statements.
15
Global Wellesley Income Fund
Financial Highlights
| Admiral Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $28.81 | $27.90 | $25.48 | $24.78 | $27.78 | $25.53 |
| Investment Operations | ||||||
| Net Investment Income1 | .492 | 1.069 | 1.010 | .839 | .627 | .594 |
| Net Realized and Unrealized Gain (Loss) on Investments | 2.062 | .901 | 2.336 | .468 | (3.035) | 2.178 |
| Total from Investment Operations | 2.554 | 1.970 | 3.346 | 1.307 | (2.408) | 2.772 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.634) | (1.060) | (.926) | (.607) | (.592) | (.522) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.634) | (1.060) | (.926) | (.607) | (.592) | (.522) |
| Net Asset Value, End of Period | $30.73 | $28.81 | $27.90 | $25.48 | $24.78 | $27.78 |
| Total Return2 | 9.01% | 7.28% | 13.43% | 5.33% | -8.81% | 10.96% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $646 | $546 | $467 | $454 | $446 | $488 |
| Ratio of Total Expenses to Average Net Assets3 | 0.28% | 0.30% | 0.31% | 0.31%4 | 0.29%4 | 0.28% |
| Ratio of Net Investment Income to Average Net Assets | 3.37% | 3.84% | 3.86% | 3.33% | 2.36% | 2.22% |
| Portfolio Turnover Rate5 | 51% | 102% | 106% | 150% | 119% | 99% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | Includes performance-based investment advisory fee increases (decreases) of (0.01%), 0.01%, 0.02%, 0.02%, 0.00%, and (0.01%). |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.31% and 0.29%, respectively. |
| 5 | Includes 1%, 4%, 4%, 28%, 27%, and 33%, respectively, attributable to mortgage-dollar-roll activity. |
See accompanying Notes, which are an integral
part of the Financial Statements.
16
Global Wellesley Income Fund
Notes to Financial Statements
Vanguard Global Wellesley
Income Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.
The fund offers two classes of shares:
Investor Shares and Admiral Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official
closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Bonds and other temporary
cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent
pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer,
tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services. Investments in Vanguard Market
Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but
after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include
obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs,
futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its
net asset value may differ from quoted or published prices for the same securities.
2. Foreign Currency:
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the
valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the
effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or
liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. To Be Announced (TBA)
Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The fund may be a seller of
TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. The fund may sell a TBA that it does not
hold (Sales Commitments) to manage portfolio risks while giving the fund more flexibility. The settlement date of a Sales Commitment is not set, and the positions can be increased or decreased to ensure appropriate
hedging ratios for the fund and may be offset by entering into an equal amount of TBA purchases. When the fund is a buyer of TBA transactions, it maintains cash, short-term investments, or Treasuries in an amount
sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The fund mitigates its
counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The fund may also
enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral
pledged or received by the fund cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the fund may terminate any TBA transactions with that counterparty,
determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the fund under the MSFTA.
4. Mortgage Dollar
Rolls: The fund enters into mortgage-dollar-roll transactions, in which the fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase substantially similar securities in the future at a
predetermined price on a predetermined date. The fund forgoes principal and interest paid on the securities sold. In exchange for the forgone principal and interest paid, the fund is compensated by investing the
proceeds of the sale, typically in high-quality short-term fixed income securities, and earning interest on such investments. Further the fund receives a lower price on the securities to be repurchased. The fund also
enters into mortgage-dollar-roll transactions in which the fund buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell substantially similar securities in
the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The fund continues to earn interest on mortgage-backed security pools
already held and receives a lower price on the securities to be sold in the future. The fund accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the
fund’s portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities
Purchased in the Statement of Assets and Liabilities.
5. Futures Contracts:
The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced,
or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices
of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further
mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing
brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any
securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
17
Global Wellesley Income Fund
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the six months ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented 0% and 2% of net assets, respectively, based on the average of the notional amounts at each quarter-end
during the period.
6. Forward Currency
Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated with these types of
forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund
mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with
its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold,
or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount
owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency
contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability
position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments.
The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is
adjusted and settled within two business days.
Forward currency contracts are
valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the
Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized
appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.
During the six months ended
February 28, 2026, the fund’s average investment in forward currency contracts represented 22% of net assets, based on the average of the notional amounts at each quarter-end during the period.
7. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
8. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
9. Securities Lending:
To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by
collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When
this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only
with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements
provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net
amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the
securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period
the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income
earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
10. Credit Facilities
and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a
credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings
may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are
charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and
included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds
effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear
interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on
18
Global Wellesley Income Fund
one business day’s notice. The interest
rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
11. Other: Dividend
income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from
Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for
premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains
(losses) on the sale of investment securities are those of the specific securities sold.
The fund has filed tax
reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Amounts related to
these reclaims are recorded when there are no significant uncertainties as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment. Such tax reclaims
and related professional fees, if any, are included in dividend income and other expenses, respectively.
Each class of shares has equal
rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and
shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on
investments are allocated to each class of shares based on its relative net assets.
B. Wellington Management Company llp provides investment advisory services to the fund for a fee calculated at an annual percentage rate of average net assets. The basic fee is subject to quarterly adjustments based on the
fund’s performance relative to the Global Wellesley Income Composite Index, comprising the FTSE Developed High Divided Yield Index (net of tax) and the Bloomberg Fixed Income Composite Index for the preceding
three years. For the six months ended February 28, 2026, the investment advisory fee represented an effective annual basic rate of 0.12% of the fund’s average net assets, before a net decrease of $30,000 (0.01%) based on
performance.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund corporate management, administrative,
marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $17,000, representing less than 0.01% of the fund’s
net assets and 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
19
Global Wellesley Income Fund
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks—North and South America | 129,255 | 7,033 | — | 136,288 |
| Common Stocks—Other | 3,890 | 141,237 | — | 145,127 |
| U.S. Government and Agency Obligations | — | 80,833 | — | 80,833 |
| Asset-Backed/Commercial Mortgage-Backed Securities | — | 14,729 | — | 14,729 |
| Corporate Bonds | — | 264,212 | — | 264,212 |
| Sovereign Bonds | — | 74,710 | — | 74,710 |
| Taxable Municipal Bonds | — | 5,317 | — | 5,317 |
| Temporary Cash Investments | 30,361 | — | — | 30,361 |
| Total | 163,506 | 588,071 | — | 751,577 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Forward Currency Contracts | — | 127 | — | 127 |
| Liabilities | ||||
| Futures Contracts1 | (44) | — | — | (44) |
| Forward Currency Contracts | — | (379) | — | (379) |
| Total | (44) | (379) | — | (423) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. At February 28, 2026, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:
| Statement of Assets and Liabilities | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Unrealized Appreciation—Forward Currency Contracts | — | 127 | 127 |
| Total Assets | — | 127 | 127 |
| Unrealized Depreciation—Futures Contracts1 | (44) | — | (44) |
| Unrealized Depreciation—Forward Currency Contracts | — | (379) | (379) |
| Total Liabilities | (44) | (379) | (423) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized net gain (loss) and
the change in unrealized appreciation (depreciation) on derivatives for the six months ended February 28, 2026, were:
| Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Futures Contracts | (194) | — | (194) |
| Forward Currency Contracts | — | (1,542) | (1,542) |
| Realized Net Gain (Loss) on Derivatives | (194) | (1,542) | (1,736) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
| Futures Contracts | 18 | — | 18 |
| Forward Currency Contracts | — | 961 | 961 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | 18 | 961 | 979 |
20
Global Wellesley Income Fund
F. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 649,679 |
| Gross Unrealized Appreciation | 111,738 |
| Gross Unrealized Depreciation | (10,136) |
| Net Unrealized Appreciation (Depreciation) | 101,602 |
The fund’s tax-basis
capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $13,349,000 that may be carried forward indefinitely to
offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for
the year, the losses will be added to the loss carryforward balance above.
G. During the six months ended February 28, 2026, the fund purchased $279,473,000 of investment securities and sold $220,543,000 of investment securities, other than U.S. government securities
and temporary cash investments. Purchases and sales of U.S. government securities were $130,894,000 and $109,332,000, respectively.
The fund purchased securities
from and sold securities to other funds or accounts managed by its investment advisor or their affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment
Company Act of 1940. For the six months ended February 28, 2026, such purchases were $0 and sales were $4,472,000, resulting in net realized gain of $762,000; these amounts, other than temporary cash investments, are
included in the purchases and sales of investment securities noted above.
H. Capital share transactions for each class of shares were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||||
| Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
| Investor Shares | |||||
| Issued | 24,224 | 1,030 | 32,054 | 1,439 | |
| Issued in Lieu of Cash Distributions | 1,703 | 73 | 2,679 | 121 | |
| Redeemed | (16,850) | (719) | (28,747) | (1,294) | |
| Net Increase (Decrease)—Investor Shares | 9,077 | 384 | 5,986 | 266 | |
| Admiral Shares | |||||
| Issued | 106,755 | 3,626 | 135,357 | 4,864 | |
| Issued in Lieu of Cash Distributions | 9,597 | 332 | 14,141 | 512 | |
| Redeemed | (55,472) | (1,887) | (87,602) | (3,158) | |
| Net Increase (Decrease)—Admiral Shares | 60,880 | 2,071 | 61,896 | 2,218 | |
I. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
Credit risk is the risk that a
counterparty to a transaction or an issuer of a financial instrument will fail to pay interest and principal when due, or that perceptions of the issuer’s ability to make such payments will cause the price of an
investment to decline. Investment in debt securities will generally increase credit risk.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
J. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its
21
Global Wellesley Income Fund
prospectus, through the execution of the
fund’s investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes
in net assets which are consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial
statements.
K. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q14962 042026
22
Financial Statements
For the six-months ended
February 28, 2026
Vanguard Global Wellington™ Fund
Contents
Financial Statements | 1 |
Global Wellington Fund
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
| Shares | Market Value• ($000) | |||||
| Common Stocks (64.7%) | ||||||
| Austria (0.8%) | ||||||
| Erste Group Bank AG | 218,732 | 25,962 | ||||
| China (0.8%) | ||||||
| ENN Energy Holdings Ltd. | 1,671,563 | 14,665 | ||||
| Alibaba Group Holding Ltd. | 516,200 | 9,342 | ||||
| 24,007 | ||||||
| Finland (0.9%) | ||||||
| Nokia OYJ | 3,477,457 | 26,689 | ||||
| France (4.7%) | ||||||
| TotalEnergies SE | 551,037 | 44,139 | ||||
| BNP Paribas SA | 296,356 | 33,275 | ||||
| Engie SA | 568,265 | 19,414 | ||||
| Arkema SA | 257,857 | 18,779 | ||||
| Capgemini SE | 146,113 | 18,465 | ||||
| Societe Generale SA | 139,802 | 12,115 | ||||
| 146,187 | ||||||
| Germany (1.0%) | ||||||
| Daimler Truck Holding AG | 371,004 | 18,719 | ||||
| Brenntag SE | 183,774 | 11,303 | ||||
| 30,022 | ||||||
| Hong Kong (0.9%) | ||||||
| AIA Group Ltd. | 2,614,600 | 28,843 | ||||
| Japan (8.4%) | ||||||
| Shin-Etsu Chemical Co. Ltd. | 874,016 | 34,411 | ||||
| Isuzu Motors Ltd. | 1,817,392 | 33,872 | ||||
| Chiba Bank Ltd. | 1,742,439 | 25,917 | ||||
| MISUMI Group Inc. | 1,273,072 | 25,632 | ||||
| Mitsubishi Estate Co. Ltd. | 748,938 | 25,257 | ||||
| Sumitomo Mitsui Trust Group Inc. | 672,823 | 23,461 | ||||
| FANUC Corp. | 499,700 | 22,626 | ||||
| BIPROGY Inc. | 715,421 | 21,723 | ||||
| Honda Motor Co. Ltd. | 1,618,507 | 16,213 | ||||
| GMO Payment Gateway Inc. | 295,200 | 15,309 | ||||
| Resona Holdings Inc. | 1,250,863 | 15,263 | ||||
| 259,684 | ||||||
| Netherlands (0.3%) | ||||||
| * | Magnum Ice Cream Co. NV | 527,868 | 8,359 | |||
| South Korea (2.1%) | ||||||
| Samsung Electronics Co. Ltd. | 429,546 | 64,290 | ||||
| Sweden (0.9%) | ||||||
| Autoliv Inc. | 221,048 | 26,199 | ||||
| Switzerland (1.1%) | ||||||
| Nestle SA (Registered) | 181,160 | 19,794 | ||||
| Zurich Insurance Group AG | 17,974 | 13,558 | ||||
| 33,352 | ||||||
| Taiwan (2.4%) | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 828,398 | 51,691 | ||||
| MediaTek Inc. | 341,876 | 21,059 | ||||
| 72,750 | ||||||
| United Kingdom (5.8%) | ||||||
| Unilever plc | 521,361 | 38,311 | ||||
| AstraZeneca plc | 171,449 | 36,078 | ||||
1
Global Wellington Fund
| Shares | Market Value• ($000) | |||||
| Rotork plc | 5,319,734 | 27,541 | ||||
| BAE Systems plc | 939,517 | 26,828 | ||||
| London Stock Exchange Group plc | 194,001 | 23,114 | ||||
| Diageo plc | 581,289 | 13,036 | ||||
| Derwent London plc | 445,873 | 10,861 | ||||
| WPP plc | 1,058,427 | 3,914 | ||||
| 179,683 | ||||||
| United States (34.6%) | ||||||
| Alphabet Inc. Class A | 190,137 | 59,277 | ||||
| Merck & Co. Inc. | 442,660 | 54,810 | ||||
| Microsoft Corp. | 123,333 | 48,438 | ||||
| Johnson & Johnson | 155,469 | 38,623 | ||||
| Duke Energy Corp. | 286,390 | 37,474 | ||||
| Bank of America Corp. | 696,948 | 34,729 | ||||
| Home Depot Inc. | 86,230 | 32,830 | ||||
| Honeywell International Inc. | 130,751 | 31,850 | ||||
| Marsh & McLennan Cos. Inc. | 170,430 | 31,826 | ||||
| Cisco Systems Inc. | 395,218 | 31,404 | ||||
| Chubb Ltd. | 90,744 | 30,931 | ||||
| Sempra | 294,707 | 28,371 | ||||
| Novartis AG (Registered) | 167,247 | 28,121 | ||||
| Coterra Energy Inc. | 919,160 | 28,117 | ||||
| United Parcel Service Inc. Class B | 237,767 | 27,571 | ||||
| Union Pacific Corp. | 97,720 | 25,894 | ||||
| PNC Financial Services Group Inc. | 118,282 | 25,117 | ||||
| Medtronic plc | 255,683 | 24,970 | ||||
| Emerson Electric Co. | 161,567 | 24,356 | ||||
| Colgate-Palmolive Co. | 244,125 | 24,203 | ||||
| CNH Industrial NV | 1,884,655 | 23,181 | ||||
| Elevance Health Inc. | 72,280 | 23,130 | ||||
| General Motors Co. | 290,779 | 22,887 | ||||
| Northrop Grumman Corp. | 29,348 | 21,259 | ||||
| Diamondback Energy Inc. | 121,897 | 21,220 | ||||
| * | Charles River Laboratories International Inc. | 117,841 | 21,033 | |||
| Salesforce Inc. | 101,024 | 19,679 | ||||
| Walt Disney Co. | 184,686 | 19,584 | ||||
| Accenture plc Class A | 92,259 | 19,256 | ||||
| Pfizer Inc. | 660,383 | 18,260 | ||||
| Huntington Bancshares Inc. | 1,070,531 | 17,985 | ||||
| EQT Corp. | 279,091 | 17,142 | ||||
| * | Intel Corp. | 359,315 | 16,388 | |||
| Kenvue Inc. | 850,320 | 16,258 | ||||
| Visa Inc. Class A | 50,474 | 16,159 | ||||
| Gilead Sciences Inc. | 102,412 | 15,254 | ||||
| PepsiCo Inc. | 89,074 | 15,119 | ||||
| UnitedHealth Group Inc. | 50,220 | 14,728 | ||||
| Texas Instruments Inc. | 65,643 | 13,924 | ||||
| Exelon Corp. | 279,402 | 13,822 | ||||
| Blackrock Inc. | 12,218 | 12,991 | ||||
| Caterpillar Inc. | 11,884 | 8,828 | ||||
| JPMorgan Chase & Co. | 28,269 | 8,489 | ||||
| 1,065,488 | ||||||
| Total Common Stocks (Cost $1,360,908) | 1,991,515 | |||||
| Coupon | Maturity Date | Face Amount ($000) | ||||
| U.S. Government and Agency Obligations (5.9%) | ||||||
| 1,2 | Fannie Mae Pool | 4.120% | 10/1/2030 | 3,945 | 3,997 | |
| 1,2 | Fannie Mae Pool | 4.200% | 10/1/2030 | 8,075 | 8,209 | |
| 1,2 | Fannie Mae Pool | 4.340% | 8/1/2030 | 3,379 | 3,454 | |
| 1,2 | Fannie Mae Pool | 4.400% | 9/1/2030 | 3,930 | 4,028 | |
| 1,2 | Fannie Mae Pool | 4.420% | 8/1/2030 | 3,889 | 3,987 | |
| 1,2 | Fannie Mae Pool | 4.470% | 5/1/2030 | 3,427 | 3,510 | |
| 1,2 | Fannie Mae Pool | 4.830% | 10/1/2030 | 3,262 | 3,393 | |
| 1,2 | Fannie Mae REMICS | 2.500% | 5/25/2045 | 610 | 583 | |
| 1,2 | Fannie Mae REMICS | 3.000% | 2/25/2049 | 48 | 47 | |
2
Global Wellington Fund
3
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Corporate Bonds (18.8%) | ||||||
| Australia (0.1%) | ||||||
| 5 | Glencore Funding LLC | 6.375% | 10/6/2030 | 2,976 | 3,221 | |
| 5 | Glencore Funding LLC | 6.500% | 10/6/2033 | 689 | 766 | |
| 5 | Glencore Funding LLC | 6.141% | 4/1/2055 | 360 | 380 | |
| 4,367 | ||||||
| Belgium (0.3%) | ||||||
| 1 | Anheuser-Busch Cos. LLC | 4.900% | 2/1/2046 | 689 | 648 | |
| 1,7 | Anheuser-Busch InBev SA/NV | 1.650% | 3/28/2031 | 635 | 707 | |
| 1,7 | Anheuser-Busch InBev SA/NV | 2.875% | 4/2/2032 | 3,375 | 3,964 | |
| 1,7 | Anheuser-Busch InBev SA/NV | 3.700% | 4/2/2040 | 1,235 | 1,423 | |
| Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/2042 | 2,321 | 2,253 | ||
| 8,995 | ||||||
| Canada (0.3%) | ||||||
| 8 | Emera Inc. | 4.838% | 5/2/2030 | 3,000 | 2,307 | |
| Emera US Finance LP | 2.639% | 6/15/2031 | 1,365 | 1,251 | ||
| Enbridge Inc. | 3.125% | 11/15/2029 | 1,845 | 1,784 | ||
| Enbridge Inc. | 4.900% | 6/20/2030 | 585 | 602 | ||
| 8 | Enbridge Inc. | 6.100% | 11/9/2032 | 3,388 | 2,797 | |
| 8,741 | ||||||
| Czech Republic (0.2%) | ||||||
| 1,7 | Ceska sporitelna A/S | 3.743% | 9/9/2032 | 4,300 | 5,156 | |
| Denmark (0.3%) | ||||||
| 1,9 | Danske Bank A/S | 2.250% | 1/14/2028 | 1,440 | 1,908 | |
| 5 | Danske Bank A/S | 5.705% | 3/1/2030 | 725 | 757 | |
| 1,7 | Jyske Bank A/S | 4.125% | 9/6/2030 | 2,860 | 3,502 | |
| 1,7 | Jyske Bank A/S | 3.625% | 4/29/2031 | 1,940 | 2,340 | |
| 8,507 | ||||||
| France (1.4%) | ||||||
| 5 | BNP Paribas SA | 5.335% | 6/12/2029 | 3,132 | 3,219 | |
| 5 | BPCE SA | 6.612% | 10/19/2027 | 751 | 763 | |
| 5 | BPCE SA | 3.250% | 1/11/2028 | 525 | 519 | |
| 5 | BPCE SA | 5.281% | 5/30/2029 | 680 | 704 | |
| 5 | BPCE SA | 5.876% | 1/14/2031 | 2,100 | 2,208 | |
| 5 | BPCE SA | 5.389% | 5/28/2031 | 600 | 621 | |
| 5 | BPCE SA | 3.116% | 10/19/2032 | 348 | 316 | |
| 1,7 | BPCE SA | 4.000% | 1/20/2034 | 2,000 | 2,416 | |
| 5 | BPCE SA | 6.508% | 1/18/2035 | 2,257 | 2,406 | |
| 7 | BPCE SFH SA | 2.750% | 2/12/2030 | 2,700 | 3,220 | |
| 1,7 | Carmila SA | 3.875% | 1/25/2032 | 1,100 | 1,316 | |
| 1,7 | CCF SFH SACA | 3.000% | 4/23/2030 | 4,100 | 4,922 | |
| 7 | Credit Agricole Home Loan SFH SA | 2.625% | 2/17/2031 | 1,500 | 1,777 | |
| 5 | Credit Agricole SA | 5.862% | 1/9/2036 | 2,600 | 2,761 | |
| 1,7 | Engie SA | 3.250% | 1/11/2032 | 2,900 | 3,453 | |
| 1,7 | Orange SA | 3.500% | 5/19/2035 | 1,100 | 1,300 | |
| 1,7 | Orange SA | 3.750% | 9/4/2037 | 1,400 | 1,656 | |
| 1,7 | RTE Reseau de Transport d'Electricite SADIR | 2.875% | 10/2/2028 | 2,000 | 2,383 | |
| 7 | Societe Generale SA | 4.875% | 11/21/2031 | 5,900 | 7,444 | |
| 5 | WEA Finance LLC | 2.875% | 1/15/2027 | 215 | 212 | |
| 5 | WEA Finance LLC | 3.500% | 6/15/2029 | 475 | 463 | |
| 44,079 | ||||||
| Germany (0.6%) | ||||||
| 1,7 | Amprion GmbH | 4.000% | 5/21/2044 | 1,600 | 1,825 | |
| 5 | Daimler Truck Finance North America LLC | 5.125% | 1/19/2028 | 185 | 189 | |
| 1,7 | Eurogrid GmbH | 3.722% | 4/27/2030 | 3,400 | 4,143 | |
| 7 | Sirius Real Estate Ltd. | 1.750% | 11/24/2028 | 3,900 | 4,462 | |
| 7 | Sirius Real Estate Ltd. | 4.000% | 1/22/2032 | 200 | 239 | |
| 7 | Volkswagen Financial Services AG | 3.250% | 5/19/2027 | 3,500 | 4,170 | |
| 1,9 | Volkswagen Financial Services NV | 5.500% | 12/7/2026 | 1,200 | 1,632 | |
| 1,7 | Volkswagen International Finance NV | 4.250% | 3/29/2029 | 2,000 | 2,458 | |
| 19,118 | ||||||
| Italy (0.7%) | ||||||
| 7 | Banca Monte dei Paschi di Siena SpA | 3.500% | 4/23/2029 | 2,390 | 2,911 | |
| 1,7 | Credit Agricole Italia SpA | 3.250% | 2/15/2034 | 1,500 | 1,802 | |
| 7 | Intesa Sanpaolo SpA | 3.625% | 6/30/2028 | 5,725 | 6,966 | |
| 1,7 | Intesa Sanpaolo SpA | 3.850% | 9/16/2032 | 5,255 | 6,386 | |
4
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 1,7 | UniCredit SpA | 3.200% | 9/22/2031 | 3,950 | 4,670 | |
| 22,735 | ||||||
| Japan (0.3%) | ||||||
| 5,7 | NTT Finance Corp. | 3.678% | 7/16/2033 | 3,095 | 3,721 | |
| 1,10 | Toyota Motor Finance Netherlands BV | 2.130% | 6/15/2027 | 3,255 | 4,333 | |
| 8,054 | ||||||
| Luxembourg (0.3%) | ||||||
| 7 | JAB Holdings BV | 4.375% | 4/25/2034 | 4,400 | 5,412 | |
| 1,7 | JAB Holdings BV | 4.375% | 5/19/2035 | 1,000 | 1,229 | |
| 1,7 | P3 Group Sarl | 4.000% | 4/19/2032 | 1,105 | 1,337 | |
| 1,7 | P3 Group Sarl | 3.750% | 4/2/2033 | 475 | 562 | |
| 8,540 | ||||||
| Mexico (0.0%) | ||||||
| America Movil SAB de CV | 3.625% | 4/22/2029 | 275 | 271 | ||
| America Movil SAB de CV | 6.375% | 3/1/2035 | 385 | 432 | ||
| 703 | ||||||
| Netherlands (0.1%) | ||||||
| 1,7 | Magnum Icc Finance BV | 4.000% | 11/26/2037 | 2,475 | 2,918 | |
| Norway (0.1%) | ||||||
| 5 | Aker BP ASA | 3.100% | 7/15/2031 | 1,607 | 1,497 | |
| 1,7 | Var Energi ASA | 5.500% | 5/4/2029 | 2,625 | 3,314 | |
| 4,811 | ||||||
| Portugal (0.1%) | ||||||
| 1,7 | Caixa Economica Montepio Geral Caixa Economica Bancaria SA | 3.500% | 6/25/2029 | 1,900 | 2,270 | |
| Romania (0.1%) | ||||||
| 1,7 | NE Property BV | 4.250% | 1/21/2032 | 2,520 | 3,095 | |
| Saudi Arabia (0.2%) | ||||||
| 5 | EIG Pearl Holdings Sarl | 3.545% | 8/31/2036 | 4,162 | 3,855 | |
| 5 | Greensaif Pipelines Bidco Sarl | 5.853% | 2/23/2036 | 1,330 | 1,394 | |
| 5 | Greensaif Pipelines Bidco Sarl | 6.103% | 8/23/2042 | 2,265 | 2,371 | |
| 7,620 | ||||||
| South Africa (0.2%) | ||||||
| 5 | Anglo American Capital plc | 4.750% | 4/10/2027 | 1,280 | 1,290 | |
| 5 | Anglo American Capital plc | 4.500% | 3/15/2028 | 758 | 764 | |
| 5 | Anglo American Capital plc | 2.625% | 9/10/2030 | 4,516 | 4,213 | |
| 6,267 | ||||||
| Spain (0.2%) | ||||||
| 1,7 | Banco de Sabadell SA | 3.500% | 8/28/2026 | 3,900 | 4,639 | |
| 7 | Cajamar Caja Rural SCC | 3.375% | 7/25/2029 | 600 | 727 | |
| 5,366 | ||||||
| Switzerland (0.2%) | ||||||
| 5 | UBS Group AG | 4.194% | 4/1/2031 | 2,568 | 2,562 | |
| 5 | UBS Group AG | 6.301% | 9/22/2034 | 2,349 | 2,575 | |
| 5,137 | ||||||
| United Arab Emirates (0.1%) | ||||||
| 5 | Galaxy Pipeline Assets Bidco Ltd. | 2.160% | 3/31/2034 | 3,510 | 3,202 | |
| United Kingdom (1.9%) | ||||||
| 1,9 | Anglian Water Osprey Financing plc | 6.750% | 8/27/2031 | 1,575 | 2,214 | |
| AstraZeneca plc | 4.000% | 1/17/2029 | 831 | 837 | ||
| BAT Capital Corp. | 5.350% | 8/15/2032 | 2,193 | 2,302 | ||
| BAT Capital Corp. | 5.625% | 8/15/2035 | 3,096 | 3,264 | ||
| BAT Capital Corp. | 7.079% | 8/2/2043 | 1,335 | 1,518 | ||
| 1,7 | British Telecommunications plc | 3.875% | 1/20/2034 | 2,115 | 2,559 | |
| 1,7 | Hammerson plc | 3.500% | 4/15/2032 | 3,925 | 4,625 | |
| HSBC Holdings plc | 5.210% | 8/11/2028 | 2,046 | 2,078 | ||
| HSBC Holdings plc | 4.899% | 3/3/2029 | 950 | 965 | ||
| HSBC Holdings plc | 5.240% | 5/13/2031 | 1,345 | 1,393 | ||
| HSBC Holdings plc | 4.619% | 11/6/2031 | 680 | 688 | ||
| 1,9 | National Grid Electricity Transmission plc | 2.000% | 9/16/2038 | 1,145 | 1,048 | |
| 1,9 | National Grid Electricity Transmission plc | 2.000% | 4/17/2040 | 890 | 773 | |
| 1,7 | National Grid plc | 0.163% | 1/20/2028 | 1,700 | 1,922 | |
| 1,7 | National Grid plc | 3.875% | 1/16/2029 | 2,125 | 2,590 | |
5
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 1,7 | Nationwide Building Society | 3.770% | 1/27/2036 | 2,725 | 3,249 | |
| Reynolds American Inc. | 5.850% | 8/15/2045 | 125 | 125 | ||
| 1,7 | Severn Trent Utilities Finance plc | 4.000% | 3/5/2034 | 1,045 | 1,276 | |
| 1,9 | Severn Trent Utilities Finance plc | 5.875% | 7/31/2038 | 1,412 | 1,951 | |
| 9 | South West Water Finance plc | 5.750% | 12/11/2032 | 1,445 | 2,026 | |
| 1,9 | South West Water Finance plc | 6.375% | 8/5/2041 | 1,330 | 1,851 | |
| 1,9 | SW Finance I plc | 5.750% | 11/19/2030 | 2,550 | 3,475 | |
| 9 | SW Finance I plc | 7.750% | 10/31/2031 | 975 | 1,410 | |
| 1,9 | SW Finance I plc | 6.875% | 8/7/2032 | 1,825 | 2,596 | |
| 1,9 | SW Finance I plc | 7.000% | 4/16/2040 | 1,075 | 1,492 | |
| 1,7 | United Utilities Water Finance plc | 3.750% | 5/23/2034 | 2,140 | 2,562 | |
| 9 | Westfield Stratford City Finance No. 2 plc | 1.642% | 8/4/2026 | 1,370 | 1,824 | |
| 1,9 | Yorkshire Water Finance plc | 6.375% | 11/18/2034 | 405 | 572 | |
| 1,9 | Yorkshire Water Finance plc | 5.500% | 4/28/2035 | 3,350 | 4,420 | |
| 57,605 | ||||||
| United States (11.1%) | ||||||
| 11 | Aflac Inc. | 1.726% | 10/18/2030 | 550,000 | 3,462 | |
| 1 | Alabama Power Co. | 4.300% | 7/15/2048 | 281 | 236 | |
| 7 | Alphabet Inc. | 2.500% | 5/6/2029 | 2,300 | 2,712 | |
| Alphabet Inc. | 5.250% | 5/15/2055 | 115 | 112 | ||
| 9 | Alphabet Inc. | 5.875% | 2/13/2058 | 2,220 | 3,037 | |
| Alphabet Inc. | 5.300% | 5/15/2065 | 60 | 57 | ||
| American Express Co. | 4.731% | 4/25/2029 | 1,045 | 1,062 | ||
| American Express Co. | 6.489% | 10/30/2031 | 72 | 79 | ||
| American Express Co. | 5.442% | 1/30/2036 | 1,114 | 1,161 | ||
| American Express Co. | 4.804% | 10/24/2036 | 440 | 436 | ||
| American International Group Inc. | 4.850% | 5/7/2030 | 540 | 554 | ||
| American International Group Inc. | 3.400% | 6/30/2030 | 1,078 | 1,050 | ||
| 7 | American Medical Systems Europe BV | 3.500% | 3/8/2032 | 265 | 319 | |
| 5 | American Transmission Systems Inc. | 2.650% | 1/15/2032 | 1,178 | 1,077 | |
| Arizona Public Service Co. | 3.750% | 5/15/2046 | 725 | 565 | ||
| Arizona Public Service Co. | 5.900% | 8/15/2055 | 815 | 838 | ||
| Arthur J Gallagher & Co. | 2.400% | 11/9/2031 | 1,685 | 1,510 | ||
| Arthur J Gallagher & Co. | 6.500% | 2/15/2034 | 2,333 | 2,573 | ||
| AT&T Inc. | 4.550% | 11/1/2032 | 1,440 | 1,449 | ||
| AT&T Inc. | 4.300% | 12/15/2042 | 1,604 | 1,381 | ||
| AT&T Inc. | 4.650% | 6/1/2044 | 370 | 328 | ||
| AT&T Inc. | 4.350% | 6/15/2045 | 1,723 | 1,447 | ||
| AT&T Inc. | 5.550% | 11/1/2045 | 1,675 | 1,648 | ||
| AT&T Inc. | 4.750% | 5/15/2046 | 1,960 | 1,721 | ||
| 5 | Athene Global Funding | 2.646% | 10/4/2031 | 3,940 | 3,506 | |
| 5 | Aviation Capital Group LLC | 5.375% | 7/15/2029 | 6,315 | 6,516 | |
| Bank of America Corp. | 5.872% | 9/15/2034 | 1,178 | 1,264 | ||
| Bank of America Corp. | 5.511% | 1/24/2036 | 1,374 | 1,440 | ||
| 7 | Becton Dickinson & Co. | 3.828% | 6/7/2032 | 3,400 | 4,130 | |
| 7 | BMS Ireland Capital Funding DAC | 3.363% | 11/10/2033 | 2,600 | 3,087 | |
| 7 | BMS Ireland Capital Funding DAC | 4.581% | 11/10/2055 | 2,285 | 2,689 | |
| Boeing Co. | 5.705% | 5/1/2040 | 1,610 | 1,675 | ||
| Boeing Co. | 6.858% | 5/1/2054 | 2,525 | 2,897 | ||
| BP Capital Markets America Inc. | 5.227% | 11/17/2034 | 1,535 | 1,606 | ||
| 5 | Brighthouse Financial Global Funding | 5.650% | 6/10/2029 | 1,764 | 1,802 | |
| CBRE Services Inc. | 4.900% | 1/15/2033 | 3,075 | 3,111 | ||
| 1 | CenterPoint Energy Houston Electric LLC | 4.850% | 4/1/2036 | 1,597 | 1,603 | |
| Charter Communications Operating LLC | 4.200% | 3/15/2028 | 1,426 | 1,424 | ||
| Charter Communications Operating LLC | 5.050% | 3/30/2029 | 3,145 | 3,193 | ||
| Citizens Financial Group Inc. | 5.841% | 1/23/2030 | 615 | 643 | ||
| Citizens Financial Group Inc. | 6.645% | 4/25/2035 | 4,400 | 4,866 | ||
| Cleco Corporate Holdings LLC | 3.375% | 9/15/2029 | 358 | 340 | ||
| 5 | CNO Global Funding | 5.875% | 6/4/2027 | 1,930 | 1,968 | |
| 5 | CNO Global Funding | 4.875% | 12/10/2027 | 525 | 530 | |
| 5 | Columbia Pipelines Holding Co. LLC | 5.097% | 10/1/2031 | 870 | 894 | |
| 5 | Columbia Pipelines Holding Co. LLC | 4.999% | 11/17/2032 | 410 | 418 | |
| 5 | Columbia Pipelines Operating Co. LLC | 5.927% | 8/15/2030 | 479 | 511 | |
| 5 | Columbia Pipelines Operating Co. LLC | 6.497% | 8/15/2043 | 1,602 | 1,731 | |
| 1 | Consolidated Edison Co. of New York Inc. | 6.300% | 8/15/2037 | 83 | 93 | |
| Consolidated Edison Co. of New York Inc. | 5.700% | 5/15/2054 | 975 | 988 | ||
| Consolidated Edison Co. of New York Inc. | 4.625% | 12/1/2054 | 319 | 274 | ||
| Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/2058 | 165 | 137 | ||
| Crown Castle Inc. | 5.100% | 5/1/2033 | 870 | 887 | ||
6
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Crown Castle Inc. | 5.800% | 3/1/2034 | 911 | 966 | ||
| Crown Castle Inc. | 5.200% | 9/1/2034 | 1,939 | 1,982 | ||
| Diamondback Energy Inc. | 3.500% | 12/1/2029 | 914 | 894 | ||
| Diamondback Energy Inc. | 5.750% | 4/18/2054 | 2,500 | 2,439 | ||
| Dominion Energy Inc. | 4.600% | 5/15/2028 | 880 | 892 | ||
| 1 | Dominion Energy Inc. | 3.375% | 4/1/2030 | 285 | 277 | |
| Dominion Energy Inc. | 5.375% | 11/15/2032 | 1,845 | 1,934 | ||
| 1 | Dominion Energy Inc. | 4.850% | 8/15/2052 | 431 | 374 | |
| Dominion Energy South Carolina Inc. | 4.600% | 6/15/2043 | 230 | 211 | ||
| DTE Energy Co. | 5.200% | 4/1/2030 | 1,210 | 1,256 | ||
| Duke Energy Carolinas LLC | 6.050% | 4/15/2038 | 769 | 841 | ||
| Duke Energy Corp. | 4.950% | 9/15/2035 | 505 | 506 | ||
| Duke Energy Corp. | 5.000% | 8/15/2052 | 2,203 | 1,956 | ||
| Duke Energy Corp. | 5.700% | 9/15/2055 | 1,536 | 1,503 | ||
| Energy Transfer LP | 5.200% | 4/1/2030 | 225 | 234 | ||
| Energy Transfer LP | 5.350% | 1/15/2036 | 485 | 493 | ||
| Energy Transfer LP | 5.150% | 3/15/2045 | 1,099 | 996 | ||
| Energy Transfer LP | 6.000% | 6/15/2048 | 1,562 | 1,541 | ||
| Enterprise Products Operating LLC | 5.200% | 1/15/2036 | 885 | 912 | ||
| Enterprise Products Operating LLC | 4.850% | 3/15/2044 | 2,062 | 1,921 | ||
| 5 | Equitable America Global Funding | 3.950% | 9/15/2027 | 595 | 594 | |
| Eversource Energy | 5.950% | 7/15/2034 | 1,410 | 1,506 | ||
| Extra Space Storage LP | 5.700% | 4/1/2028 | 1,973 | 2,037 | ||
| 5 | FirstEnergy Pennsylvania Electric Co. | 3.250% | 3/15/2028 | 1,766 | 1,738 | |
| 5 | FirstEnergy Pennsylvania Electric Co. | 5.200% | 4/1/2028 | 88 | 90 | |
| 5 | FirstEnergy Pennsylvania Electric Co. | 3.600% | 6/1/2029 | 229 | 226 | |
| 5 | Fortitude Global Funding | 4.625% | 10/6/2028 | 1,790 | 1,795 | |
| 5 | Foundry JV Holdco LLC | 5.900% | 1/25/2030 | 420 | 443 | |
| 5 | Foundry JV Holdco LLC | 5.900% | 1/25/2033 | 2,562 | 2,714 | |
| 5 | Foundry JV Holdco LLC | 6.250% | 1/25/2035 | 1,638 | 1,763 | |
| 5 | Foundry JV Holdco LLC | 6.200% | 1/25/2037 | 815 | 871 | |
| 5 | Foundry JV Holdco LLC | 6.400% | 1/25/2038 | 495 | 536 | |
| 5 | Foundry JV Holdco LLC | 6.300% | 1/25/2039 | 2,180 | 2,349 | |
| Georgia Power Co. | 4.850% | 3/15/2031 | 1,010 | 1,043 | ||
| Georgia Power Co. | 4.300% | 3/15/2042 | 3,827 | 3,434 | ||
| Georgia Power Co. | 5.125% | 5/15/2052 | 478 | 451 | ||
| GLP Capital LP | 5.300% | 1/15/2029 | 2,637 | 2,691 | ||
| GLP Capital LP | 5.250% | 2/15/2033 | 785 | 794 | ||
| GLP Capital LP | 6.750% | 12/1/2033 | 3,418 | 3,699 | ||
| Goldman Sachs Group Inc. | 5.218% | 4/23/2031 | 4,162 | 4,309 | ||
| Goldman Sachs Group Inc. | 4.516% | 1/21/2032 | 1,764 | 1,775 | ||
| 1,7 | Goldman Sachs Group Inc. | 3.984% | 12/18/2036 | 3,875 | 4,635 | |
| Goldman Sachs Group Inc. | 5.065% | 1/21/2037 | 5,074 | 5,108 | ||
| 5 | Gray Oak Pipeline LLC | 3.450% | 10/15/2027 | 1,682 | 1,665 | |
| HCA Inc. | 4.600% | 11/15/2032 | 3,112 | 3,114 | ||
| HCA Inc. | 5.125% | 6/15/2039 | 1,958 | 1,907 | ||
| Healthpeak OP LLC | 4.750% | 1/15/2033 | 3,919 | 3,935 | ||
| Healthpeak OP LLC | 5.375% | 2/15/2035 | 2,525 | 2,602 | ||
| Home Depot Inc. | 3.300% | 4/15/2040 | 1,017 | 843 | ||
| 5 | Hyundai Capital America | 4.250% | 9/18/2028 | 9,125 | 9,165 | |
| Intel Corp. | 4.600% | 3/25/2040 | 3,281 | 2,981 | ||
| JBS NV | 3.000% | 5/15/2032 | 1,473 | 1,341 | ||
| JBS NV | 5.750% | 4/1/2033 | 5,987 | 6,292 | ||
| JBS NV | 6.750% | 3/15/2034 | 305 | 340 | ||
| JBS NV | 5.950% | 4/20/2035 | 263 | 279 | ||
| JBS NV | 6.250% | 3/1/2056 | 810 | 828 | ||
| JBS NV | 6.375% | 4/15/2066 | 705 | 720 | ||
| 1,7 | John Deere Bank SA | 3.300% | 10/15/2029 | 1,810 | 2,182 | |
| 7 | Johnson & Johnson | 3.350% | 2/26/2037 | 1,230 | 1,447 | |
| JPMorgan Chase & Co. | 6.087% | 10/23/2029 | 2,244 | 2,357 | ||
| JPMorgan Chase & Co. | 5.140% | 1/24/2031 | 4,006 | 4,157 | ||
| JPMorgan Chase & Co. | 4.347% | 1/22/2032 | 1,876 | 1,885 | ||
| JPMorgan Chase & Co. | 6.254% | 10/23/2034 | 4,346 | 4,777 | ||
| JPMorgan Chase & Co. | 5.572% | 4/22/2036 | 4,979 | 5,256 | ||
| 1 | JPMorgan Chase & Co. | 3.964% | 11/15/2048 | 1,074 | 875 | |
| 1 | Kaiser Foundation Hospitals | 2.810% | 6/1/2041 | 1,200 | 916 | |
| Kenvue Inc. | 4.900% | 3/22/2033 | 821 | 847 | ||
| Kenvue Inc. | 5.050% | 3/22/2053 | 1,741 | 1,622 | ||
| Kilroy Realty LP | 3.050% | 2/15/2030 | 1,286 | 1,195 | ||
| Kilroy Realty LP | 2.650% | 11/15/2033 | 1,181 | 965 | ||
7
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Kilroy Realty LP | 5.875% | 10/15/2035 | 2,491 | 2,455 | ||
| 5 | Liberty Mutual Group Inc. | 4.569% | 2/1/2029 | 1,127 | 1,136 | |
| 5 | Lincoln Financial Global Funding | 4.625% | 5/28/2028 | 580 | 585 | |
| LXP Industrial Trust | 6.750% | 11/15/2028 | 878 | 930 | ||
| 5 | Mars Inc. | 5.000% | 3/1/2032 | 1,856 | 1,920 | |
| 5 | Mars Inc. | 5.200% | 3/1/2035 | 2,880 | 2,983 | |
| 5 | Mars Inc. | 5.650% | 5/1/2045 | 1,915 | 1,960 | |
| 5 | Mars Inc. | 5.700% | 5/1/2055 | 1,764 | 1,789 | |
| Memorial Sloan-Kettering Cancer Center | 4.125% | 7/1/2052 | 65 | 54 | ||
| Meta Platforms Inc. | 4.600% | 11/15/2032 | 490 | 498 | ||
| Meta Platforms Inc. | 5.500% | 11/15/2045 | 1,210 | 1,195 | ||
| Morgan Stanley | 4.238% | 1/9/2030 | 4,930 | 4,946 | ||
| Morgan Stanley | 4.654% | 10/18/2030 | 1,899 | 1,930 | ||
| Morgan Stanley | 5.230% | 1/15/2031 | 1,290 | 1,336 | ||
| Morgan Stanley | 4.493% | 1/16/2032 | 6,096 | 6,127 | ||
| Morgan Stanley | 5.587% | 1/18/2036 | 3,042 | 3,197 | ||
| Morgan Stanley | 5.073% | 1/30/2037 | 575 | 580 | ||
| Morgan Stanley Private Bank NA | 4.734% | 7/18/2031 | 1,090 | 1,110 | ||
| 5 | Mutual of Omaha Cos. Global Funding | 5.000% | 4/1/2030 | 1,030 | 1,057 | |
| NiSource Inc. | 5.250% | 3/30/2028 | 534 | 547 | ||
| NiSource Inc. | 5.350% | 7/15/2035 | 1,650 | 1,704 | ||
| NiSource Inc. | 5.850% | 4/1/2055 | 1,813 | 1,829 | ||
| 5 | NLG Global Funding | 4.350% | 9/15/2030 | 1,445 | 1,448 | |
| 5 | Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/2047 | 252 | 201 | |
| 5 | Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/2059 | 40 | 29 | |
| 5 | Oglethorpe Power Corp. | 6.191% | 1/1/2031 | 131 | 139 | |
| Oglethorpe Power Corp. | 5.050% | 10/1/2048 | 177 | 162 | ||
| 5 | Ohio Edison Co. | 4.950% | 12/15/2029 | 235 | 242 | |
| 5 | ONEOK Inc. | 5.625% | 1/15/2028 | 2,026 | 2,069 | |
| ONEOK Inc. | 4.750% | 10/15/2031 | 1,055 | 1,070 | ||
| ONEOK Inc. | 4.950% | 10/15/2032 | 1,640 | 1,667 | ||
| Oracle Corp. | 4.550% | 2/4/2029 | 850 | 851 | ||
| Oracle Corp. | 5.875% | 9/26/2045 | 263 | 238 | ||
| Oracle Corp. | 6.550% | 2/4/2046 | 640 | 624 | ||
| Oracle Corp. | 4.000% | 7/15/2046 | 95 | 66 | ||
| Oracle Corp. | 4.000% | 11/15/2047 | 95 | 65 | ||
| Oracle Corp. | 3.600% | 4/1/2050 | 3,175 | 1,985 | ||
| Oracle Corp. | 3.950% | 3/25/2051 | 454 | 300 | ||
| Oracle Corp. | 5.550% | 2/6/2053 | 285 | 238 | ||
| Oracle Corp. | 5.375% | 9/27/2054 | 250 | 202 | ||
| Oracle Corp. | 6.000% | 8/3/2055 | 245 | 215 | ||
| Oracle Corp. | 6.850% | 2/4/2066 | 795 | 762 | ||
| Pacific Gas & Electric Co. | 5.200% | 5/1/2036 | 110 | 110 | ||
| Pacific Gas & Electric Co. | 4.500% | 7/1/2040 | 558 | 496 | ||
| Pacific Gas & Electric Co. | 4.750% | 2/15/2044 | 830 | 720 | ||
| Pacific Gas & Electric Co. | 4.950% | 7/1/2050 | 5,276 | 4,553 | ||
| Pacific Gas & Electric Co. | 6.000% | 5/1/2056 | 125 | 123 | ||
| 5 | Penske Truck Leasing Co. LP | 6.050% | 8/1/2028 | 1,135 | 1,183 | |
| 5 | Penske Truck Leasing Co. LP | 5.250% | 7/1/2029 | 5,002 | 5,164 | |
| 5 | Penske Truck Leasing Co. LP | 5.250% | 2/1/2030 | 585 | 605 | |
| 5 | Penske Truck Leasing Co. LP | 4.550% | 1/15/2031 | 2,400 | 2,415 | |
| 7 | Pfizer Netherlands International Finance BV | 4.250% | 5/19/2045 | 1,595 | 1,913 | |
| Philip Morris International Inc. | 4.250% | 10/29/2032 | 1,050 | 1,047 | ||
| Philip Morris International Inc. | 4.900% | 11/1/2034 | 3,696 | 3,768 | ||
| Piedmont Natural Gas Co. Inc. | 4.650% | 8/1/2043 | 877 | 791 | ||
| 5 | Pricoa Global Funding I | 4.700% | 5/28/2030 | 310 | 316 | |
| 1,7 | Prologis Euro Finance LLC | 4.250% | 1/31/2043 | 1,390 | 1,628 | |
| 5 | Protective Life Global Funding | 4.803% | 6/5/2030 | 740 | 755 | |
| 5 | Protective Life Global Funding | 5.432% | 1/14/2032 | 3,282 | 3,450 | |
| Providence St. Joseph Health Obligated Group | 5.403% | 10/1/2033 | 1,040 | 1,088 | ||
| 1 | Prudential Financial Inc. | 3.700% | 3/13/2051 | 940 | 687 | |
| Public Service Co. of Oklahoma | 5.450% | 1/15/2036 | 2,070 | 2,145 | ||
| 1 | Public Service Electric & Gas Co. | 5.050% | 3/1/2035 | 1,126 | 1,162 | |
| 1 | Public Service Electric & Gas Co. | 5.450% | 3/1/2054 | 1,071 | 1,061 | |
| Realty Income Corp. | 3.250% | 6/15/2029 | 1,042 | 1,021 | ||
| 7 | Realty Income Corp. | 4.875% | 7/6/2030 | 3,715 | 4,705 | |
| 5 | RGA Global Funding | 5.448% | 5/24/2029 | 1,400 | 1,454 | |
| 5 | RGA Global Funding | 5.250% | 1/9/2030 | 1,775 | 1,839 | |
| 5 | Sammons Financial Group Global Funding | 4.950% | 6/12/2030 | 3,105 | 3,166 | |
| 5 | SBA Tower Trust | 1.631% | 11/15/2026 | 2,265 | 2,226 | |
8
Global Wellington Fund
9
Global Wellington Fund
10
Global Wellington Fund
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 13 | Kansas Development Finance Authority Revenue | 2.774% | 5/1/2051 | 475 | 348 | |
| New York Metropolitan Transportation Authority Revenue | 6.814% | 11/15/2040 | 395 | 452 | ||
| New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.668% | 11/15/2039 | 170 | 189 | ||
| 14 | Philadelphia PA Authority for Industrial Development Revenue | 6.550% | 10/15/2028 | 635 | 675 | |
| Port Authority of New York & New Jersey Revenue | 5.647% | 11/1/2040 | 2,060 | 2,245 | ||
| Port Authority of New York & New Jersey Revenue | 4.458% | 10/1/2062 | 225 | 198 | ||
| Texas Natural Gas Securitization Finance Corp. Revenue (Winter Storm Uri) | 5.169% | 4/1/2041 | 255 | 266 | ||
| Total Taxable Municipal Bonds (Cost $13,299) | 13,004 | |||||
| Shares | ||||||
| Temporary Cash Investments (3.8%) | ||||||
| Money Market Fund (3.8%) | ||||||
| 15 | Vanguard Market Liquidity Fund (Cost $116,114) | 3.693% | 1,161,370 | 116,125 | ||
| Total Investments (99.9%) (Cost $2,427,293) | 3,076,238 | |||||
| Other Assets and Liabilities—Net (0.1%) | 3,547 | |||||
| Net Assets (100%) | 3,079,785 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| * | Non-income-producing security. |
| 1 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 2 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2026. |
| 4 | Securities with a value of $796 have been segregated as initial margin for open futures contracts. |
| 5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2026, the aggregate value was $176,064, representing 5.7% of net assets. |
| 6 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 7 | Face amount denominated in euro. |
| 8 | Face amount denominated in Canadian dollars. |
| 9 | Face amount denominated in British pounds. |
| 10 | Face amount denominated in Swiss francs. |
| 11 | Face amount denominated in Japanese yen. |
| 12 | Face amount denominated in Australian dollars. |
| 13 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 14 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 15 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| DAC—Designated Activity Company. | |
| GO—General Obligation Bond. | |
| REMICS—Real Estate Mortgage Investment Conduits. | |
| SOFR30A—30 Day Average Secured Overnight Financing Rate. | |
| UMBS—Uniform Mortgage-Backed Securities. |
11
Global Wellington Fund
Derivative Financial
Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Short Futures Contracts | ||||
| 5-Year U.S. Treasury Note | June 2026 | (58) | (6,388) | (23) |
| 10-Year U.S. Treasury Note | June 2026 | (43) | (4,894) | (31) |
| Ultra 10-Year U.S. Treasury Note | June 2026 | (93) | (10,856) | (70) |
| (124) | ||||
| Forward Currency Contracts | |||||||
| Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
| Counterparty | Receive | Deliver | |||||
| JPMorgan Chase Bank, N.A. | 3/31/2026 | CAD | 2,230 | USD | 1,632 | 4 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 29,107 | AUD | 41,192 | — | (204) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 23,540 | CAD | 32,186 | — | (85) |
| Bank of America, N.A. | 3/31/2026 | AUD | 900 | CAD | 869 | 3 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 5,609 | CHF | 4,324 | — | (35) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 245,482 | EUR | 207,826 | — | (471) |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | GBP | 2,921 | EUR | 3,339 | — | (14) |
| Goldman Sachs International | 3/31/2026 | USD | 1,963 | EUR | 1,660 | — | (2) |
| Goldman Sachs International | 3/31/2026 | USD | 38,200 | GBP | 28,287 | 76 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | USD | 11,091 | JPY | 1,708,673 | 123 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | AUD | 3,363 | JPY | 366,900 | 38 | — |
| JPMorgan Chase Bank, N.A. | 3/31/2026 | GBP | 1,169 | JPY | 243,667 | 11 | — |
| Goldman Sachs International | 3/31/2026 | USD | 3 | SEK | 30 | — | — |
| 255 | (811) | ||||||
| AUD—Australian dollar. |
| CAD—Canadian dollar. |
| CHF—Swiss franc. |
| EUR—euro. |
| GBP—British pound. |
| JPY—Japanese yen. |
| SEK—Swedish krona. |
| USD—U.S. dollar. |
At February 28, 2026, the
counterparties had deposited in segregated accounts securities with a value of $1,837 in connection with open forward currency contracts.
See accompanying Notes,
which are an integral part of the Financial Statements.
12
Global Wellington Fund
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value | |
| Unaffiliated Issuers (Cost $2,311,179) | 2,960,113 |
| Affiliated Issuers (Cost $116,114) | 116,125 |
| Total Investments in Securities | 3,076,238 |
| Investment in Vanguard | 67 |
| Cash | 111 |
| Foreign Currency, at Value (Cost $1,509) | 1,512 |
| Receivables for Investment Securities Sold | 14,641 |
| Receivables for Accrued Income | 17,281 |
| Receivables for Capital Shares Issued | 5,346 |
| Unrealized Appreciation—Forward Currency Contracts | 255 |
| Total Assets | 3,115,451 |
| Liabilities | |
| Payables for Investment Securities Purchased | 32,517 |
| Payables for Capital Shares Redeemed | 1,224 |
| Payables to Investment Advisor | 781 |
| Payables to Vanguard | 200 |
| Variation Margin Payable—Futures Contracts | 133 |
| Unrealized Depreciation—Forward Currency Contracts | 811 |
| Total Liabilities | 35,666 |
| Net Assets | 3,079,785 |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 2,342,565 |
| Total Distributable Earnings (Loss) | 737,220 |
| Net Assets | 3,079,785 |
| Investor Shares—Net Assets | |
| Applicable to 11,934,336 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 356,251 |
| Net Asset Value Per Share—Investor Shares | $29.85 |
| Admiral™ Shares—Net Assets | |
| Applicable to 72,975,425 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,723,534 |
| Net Asset Value Per Share—Admiral Shares | $37.32 |
See accompanying Notes,
which are an integral part of the Financial Statements.
13
Global Wellington Fund
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Dividends1 | 19,840 |
| Interest2 | 19,922 |
| Securities Lending—Net | 1 |
| Total Income | 39,763 |
| Expenses | |
| Investment Advisory Fees—Note B | |
| Basic Fee | 2,025 |
| Performance Adjustment | (528) |
| The Vanguard Group—Note C | |
| Management and Administrative—Investor Shares | 422 |
| Management and Administrative—Admiral Shares | 1,853 |
| Marketing and Distribution—Investor Shares | 11 |
| Marketing and Distribution—Admiral Shares | 57 |
| Custodian Fees | 37 |
| Shareholders’ Reports—Investor Shares | 8 |
| Shareholders’ Reports—Admiral Shares | 14 |
| Trustees’ Fees and Expenses | 1 |
| Other Expenses | 13 |
| Total Expenses | 3,913 |
| Net Investment Income | 35,850 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold2 | 134,392 |
| Futures Contracts | (630) |
| Forward Currency Contracts | (3,434) |
| Foreign Currencies | (167) |
| Realized Net Gain (Loss) | 130,161 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities2 | 217,199 |
| Futures Contracts | (10) |
| Forward Currency Contracts | 2,260 |
| Foreign Currencies | 83 |
| Change in Unrealized Appreciation (Depreciation) | 219,532 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 385,543 |
| 1 | Dividends are net of foreign withholding taxes of $375. |
| 2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,689, $5, and ($3), respectively. Purchases and sales are for temporary cash investment purposes. |
See accompanying Notes,
which are an integral part of the Financial Statements.
14
Global Wellington Fund
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 35,850 | 77,907 | |
| Realized Net Gain (Loss) | 130,161 | 85,702 | |
| Change in Unrealized Appreciation (Depreciation) | 219,532 | 10,440 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 385,543 | 174,049 | |
| Distributions | |||
| Investor Shares | (14,840) | (19,962) | |
| Admiral Shares | (121,876) | (157,335) | |
| Total Distributions | (136,716) | (177,297) | |
| Capital Share Transactions | |||
| Investor Shares | 28,929 | 9,183 | |
| Admiral Shares | 202,004 | 20,479 | |
| Net Increase (Decrease) from Capital Share Transactions | 230,933 | 29,662 | |
| Total Increase (Decrease) | 479,760 | 26,414 | |
| Net Assets | |||
| Beginning of Period | 2,600,025 | 2,573,611 | |
| End of Period | 3,079,785 | 2,600,025 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
15
Global Wellington Fund
Financial Highlights
| Investor Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $27.37 | $27.45 | $24.34 | $23.18 | $26.18 | $22.29 |
| Investment Operations | ||||||
| Net Investment Income1 | .352 | .792 | .758 | .630 | .566 | .410 |
| Net Realized and Unrealized Gain (Loss) on Investments | 3.539 | .989 | 3.087 | 1.659 | (2.711) | 3.871 |
| Total from Investment Operations | 3.891 | 1.781 | 3.845 | 2.289 | (2.145) | 4.281 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.443) | (.814) | (.725) | (.560) | (.446) | (.391) |
| Distributions from Realized Capital Gains | (.968) | (1.047) | (.010) | (.569) | (.409) | — |
| Total Distributions | (1.411) | (1.861) | (.735) | (1.129) | (.855) | (.391) |
| Net Asset Value, End of Period | $29.85 | $27.37 | $27.45 | $24.34 | $23.18 | $26.18 |
| Total Return2 | 14.72% | 7.12% | 16.07% | 10.18% | -8.43% | 19.36% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $356 | $299 | $291 | $247 | $226 | $247 |
| Ratio of Total Expenses to Average Net Assets3 | 0.41% | 0.43% | 0.48%4 | 0.50%4 | 0.45%4 | 0.42% |
| Ratio of Net Investment Income to Average Net Assets | 2.52% | 3.00% | 2.98% | 2.66% | 2.26% | 1.68% |
| Portfolio Turnover Rate5 | 38% | 74% | 74% | 93% | 77% | 68% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | Includes performance-based investment advisory fee increases (decreases) of (0.04%), (0.02%), 0.03%, 0.04%, (0.01%), and (0.03%). |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.48%, 0.50%, and 0.44%, respectively. |
| 5 | Includes 0%, 3%, 2%, 15%, 15%, and 20%, respectively, attributable to mortgage-dollar-roll activity. |
See accompanying Notes,
which are an integral part of the Financial Statements.
16
Global Wellington Fund
Financial Highlights
| Admiral Shares | ||||||
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net Asset Value, Beginning of Period | $34.22 | $34.31 | $30.43 | $28.98 | $32.74 | $27.87 |
| Investment Operations | ||||||
| Net Investment Income1 | .462 | 1.034 | .989 | .827 | .750 | .554 |
| Net Realized and Unrealized Gain (Loss) on Investments | 4.424 | 1.244 | 3.851 | 2.072 | (3.398) | 4.842 |
| Total from Investment Operations | 4.886 | 2.278 | 4.840 | 2.899 | (2.648) | 5.396 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.575) | (1.059) | (.947) | (.738) | (.601) | (.526) |
| Distributions from Realized Capital Gains | (1.211) | (1.309) | (.013) | (.711) | (.511) | — |
| Total Distributions | (1.786) | (2.368) | (.960) | (1.449) | (1.112) | (.526) |
| Net Asset Value, End of Period | $37.32 | $34.22 | $34.31 | $30.43 | $28.98 | $32.74 |
| Total Return2 | 14.79% | 7.29% | 16.20% | 10.32% | -8.33% | 19.53% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $2,724 | $2,301 | $2,283 | $1,761 | $1,563 | $1,577 |
| Ratio of Total Expenses to Average Net Assets3 | 0.28% | 0.30% | 0.35%4 | 0.37%4 | 0.32%4 | 0.29% |
| Ratio of Net Investment Income to Average Net Assets | 2.64% | 3.13% | 3.10% | 2.79% | 2.39% | 1.81% |
| Portfolio Turnover Rate5 | 38% | 74% | 74% | 93% | 77% | 68% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | Includes performance-based investment advisory fee increases (decreases) of (0.04%), (0.02%), 0.03%, 0.04%, (0.01%), and (0.03%). |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.35%, 0.37%, and 0.32%, respectively. |
| 5 | Includes 0%, 3%, 2%, 15%, 15%, and 20%, respectively, attributable to mortgage-dollar-roll activity. |
See accompanying Notes, which are an integral
part of the Financial Statements.
17
Global Wellington Fund
Notes to Financial Statements
Vanguard Global Wellington
Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and Admiral Shares. Each of the share classes has
different eligibility and minimum purchase requirements, and is designed for different types of investors.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official
closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Bonds and other temporary
cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent
pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer,
tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services. Investments in Vanguard Market
Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time
but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include
obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs,
futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its
net asset value may differ from quoted or published prices for the same securities.
2. Foreign Currency:
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the
valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the
effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or
liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. To Be Announced (TBA)
Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The fund may be a seller of
TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. The fund may sell a TBA that it does not
hold (Sales Commitments) to manage portfolio risks while giving the fund more flexibility. The settlement date of a Sales Commitment is not set, and the positions can be increased or decreased to ensure appropriate
hedging ratios for the fund and may be offset by entering into an equal amount of TBA purchases. When the fund is a buyer of TBA transactions, it maintains cash, short-term investments, or Treasuries in an amount
sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The fund mitigates its
counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The fund may also
enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral
pledged or received by the fund cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the fund may terminate any TBA transactions with that counterparty,
determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the fund under the MSFTA.
4. Mortgage Dollar
Rolls: The fund enters into mortgage-dollar-roll transactions, in which the fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase substantially similar securities in the future at a
predetermined price on a predetermined date. The fund forgoes principal and interest paid on the securities sold. In exchange for the forgone principal and interest paid, the fund is compensated by investing the
proceeds of the sale, typically in high-quality short-term fixed income securities, and earning interest on such investments. Further the fund receives a lower price on the securities to be repurchased. The fund also
enters into mortgage-dollar-roll transactions in which the fund buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell substantially similar securities in
the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The fund continues to earn interest on mortgage-backed security pools
already held and receives a lower price on the securities to be sold in the future. The fund accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the
fund’s portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities
Purchased in the Statement of Assets and Liabilities.
5. Futures Contracts:
The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced,
or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices
of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further
mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing
brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any
securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
18
Global Wellington Fund
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the six months ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented less than 1% and 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end
during the period.
6. Forward Currency
Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated with these types of
forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund
mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with
its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold,
or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount
owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency
contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability
position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments.
The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is
adjusted and settled within two business days.
Forward currency contracts are
valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the
Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized
appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.
During the six months ended
February 28, 2026, the fund’s average investment in forward currency contracts represented 12% of net assets, based on the average of the notional amounts at each quarter-end during the period.
7. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
8. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
9. Securities Lending:
To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by
collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When
this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only
with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements
provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net
amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the
securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period
the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income
earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
10. Credit Facilities
and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a
credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings
may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are
charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and
included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds
effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear
interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on
19
Global Wellington Fund
one business day’s notice. The interest
rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
11. Other: Dividend
income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from
Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for
premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains
(losses) on the sale of investment securities are those of the specific securities sold.
The fund has filed tax
reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Amounts related to
these reclaims are recorded when there are no significant uncertainties as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment. Such tax reclaims
and related professional fees, if any, are included in dividend income and other expenses, respectively.
Each class of shares has equal
rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and
shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on
investments are allocated to each class of shares based on its relative net assets.
B. Wellington Management Company llp provides investment advisory services to the fund for a fee calculated at an annual percentage rate of average net assets. The basic fee is subject to quarterly adjustments based on the
fund's performance relative to the Global Wellington Composite Index, comprising the FTSE Developed Index and the Bloomberg Fixed Income Composite Index, for the preceding three years. For the six months
ended February 28, 2026, the investment advisory fee represented an effective annual basic rate of 0.15% of the fund’s average net assets before a net decrease of $528,000 (0.04%) based on
performance.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund corporate management, administrative,
marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $67,000, representing less than 0.01% of the fund’s
net assets and 0.03% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
20
Global Wellington Fund
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks—North and South America | 1,037,367 | 28,121 | — | 1,065,488 |
| Common Stocks—Other | 34,558 | 891,469 | — | 926,027 |
| U.S. Government and Agency Obligations | — | 183,150 | — | 183,150 |
| Asset-Backed/Commercial Mortgage-Backed Securities | — | 31,382 | — | 31,382 |
| Corporate Bonds | — | 578,660 | — | 578,660 |
| Sovereign Bonds | — | 162,402 | — | 162,402 |
| Taxable Municipal Bonds | — | 13,004 | — | 13,004 |
| Temporary Cash Investments | 116,125 | — | — | 116,125 |
| Total | 1,188,050 | 1,888,188 | — | 3,076,238 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Forward Currency Contracts | — | 255 | — | 255 |
| Liabilities | ||||
| Futures Contracts1 | (124) | — | — | (124) |
| Forward Currency Contracts | — | (811) | — | (811) |
| Total | (124) | (811) | — | (935) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. At February 28, 2026, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:
| Statement of Assets and Liabilities | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Unrealized Appreciation—Forward Currency Contracts | — | 255 | 255 |
| Total Assets | — | 255 | 255 |
| Unrealized Depreciation—Futures Contracts1 | (124) | — | (124) |
| Unrealized Depreciation—Forward Currency Contracts | — | (811) | (811) |
| Total Liabilities | (124) | (811) | (935) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized net gain (loss) and
the change in unrealized appreciation (depreciation) on derivatives for the six months ended February 28, 2026, were:
| Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Futures Contracts | (630) | — | (630) |
| Forward Currency Contracts | — | (3,434) | (3,434) |
| Realized Net Gain (Loss) on Derivatives | (630) | (3,434) | (4,064) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
| Futures Contracts | (10) | — | (10) |
| Forward Currency Contracts | — | 2,260 | 2,260 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | (10) | 2,260 | 2,250 |
21
Global Wellington Fund
F. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 2,430,392 |
| Gross Unrealized Appreciation | 705,554 |
| Gross Unrealized Depreciation | (60,388) |
| Net Unrealized Appreciation (Depreciation) | 645,166 |
G. During the six months ended February 28, 2026, the fund purchased $887,097,000 of investment securities and sold $798,079,000 of investment securities, other than U.S. government securities
and temporary cash investments. Purchases and sales of U.S. government securities were $263,060,000 and $211,638,000, respectively.
H. Capital share transactions for each class of shares were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||||
| Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
| Investor Shares | |||||
| Issued | 66,133 | 2,317 | 78,988 | 2,990 | |
| Issued in Lieu of Cash Distributions | 13,274 | 485 | 17,932 | 703 | |
| Redeemed | (50,478) | (1,805) | (87,737) | (3,350) | |
| Net Increase (Decrease)—Investor Shares | 28,929 | 997 | 9,183 | 343 | |
| Admiral Shares | |||||
| Issued | 321,541 | 9,043 | 403,624 | 12,275 | |
| Issued in Lieu of Cash Distributions | 106,034 | 3,098 | 137,912 | 4,325 | |
| Redeemed | (225,571) | (6,396) | (521,057) | (15,897) | |
| Net Increase (Decrease)—Admiral Shares | 202,004 | 5,745 | 20,479 | 703 | |
I. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
Credit risk is the risk that a
counterparty to a transaction or an issuer of a financial instrument will fail to pay interest and principal when due, or that perceptions of the issuer’s ability to make such payments will cause the price of an
investment to decline. Investment in debt securities will generally increase credit risk.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
J. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
K. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q15672 042026
22
Financial Statements
For the six-months ended
February 28, 2026
Vanguard ESG U.S. Corporate Bond ETF
Contents
Financial Statements | 1 |
ESG U.S. Corporate Bond ETF
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
1
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| AT&T Inc. | 4.500% | 3/9/2048 | 730 | 611 | ||
| AT&T Inc. | 4.550% | 3/9/2049 | 100 | 84 | ||
| AT&T Inc. | 3.650% | 6/1/2051 | 845 | 604 | ||
| AT&T Inc. | 3.300% | 2/1/2052 | 220 | 146 | ||
| AT&T Inc. | 3.500% | 9/15/2053 | 2,085 | 1,419 | ||
| AT&T Inc. | 5.700% | 11/1/2054 | 315 | 306 | ||
| AT&T Inc. | 3.550% | 9/15/2055 | 1,520 | 1,028 | ||
| AT&T Inc. | 6.050% | 8/15/2056 | 125 | 127 | ||
| AT&T Inc. | 3.800% | 12/1/2057 | 1,357 | 952 | ||
| AT&T Inc. | 3.650% | 9/15/2059 | 1,950 | 1,311 | ||
| AT&T Inc. | 3.850% | 6/1/2060 | 855 | 596 | ||
| Bell Telephone Co. of Canada or Bell Canada | 5.100% | 5/11/2033 | 255 | 262 | ||
| Bell Telephone Co. of Canada or Bell Canada | 4.464% | 4/1/2048 | 315 | 266 | ||
| Bell Telephone Co. of Canada or Bell Canada | 5.550% | 2/15/2054 | 150 | 147 | ||
| British Telecommunications plc | 9.625% | 12/15/2030 | 790 | 966 | ||
| Charter Communications Operating LLC | 3.750% | 2/15/2028 | 350 | 347 | ||
| Charter Communications Operating LLC | 4.200% | 3/15/2028 | 315 | 315 | ||
| Charter Communications Operating LLC | 2.250% | 1/15/2029 | 255 | 241 | ||
| Charter Communications Operating LLC | 5.050% | 3/30/2029 | 290 | 294 | ||
| Charter Communications Operating LLC | 6.100% | 6/1/2029 | 435 | 456 | ||
| Charter Communications Operating LLC | 2.800% | 4/1/2031 | 271 | 246 | ||
| Charter Communications Operating LLC | 2.300% | 2/1/2032 | 280 | 244 | ||
| Charter Communications Operating LLC | 4.400% | 4/1/2033 | 780 | 742 | ||
| Charter Communications Operating LLC | 6.650% | 2/1/2034 | 250 | 266 | ||
| Charter Communications Operating LLC | 6.550% | 6/1/2034 | 300 | 319 | ||
| Charter Communications Operating LLC | 6.384% | 10/23/2035 | 520 | 543 | ||
| Charter Communications Operating LLC | 5.375% | 4/1/2038 | 395 | 367 | ||
| Charter Communications Operating LLC | 3.500% | 6/1/2041 | 245 | 177 | ||
| Charter Communications Operating LLC | 3.500% | 3/1/2042 | 465 | 329 | ||
| Charter Communications Operating LLC | 6.484% | 10/23/2045 | 830 | 789 | ||
| Charter Communications Operating LLC | 5.375% | 5/1/2047 | 405 | 338 | ||
| Charter Communications Operating LLC | 5.750% | 4/1/2048 | 521 | 452 | ||
| Charter Communications Operating LLC | 5.125% | 7/1/2049 | 450 | 358 | ||
| Charter Communications Operating LLC | 4.800% | 3/1/2050 | 820 | 625 | ||
| Charter Communications Operating LLC | 3.700% | 4/1/2051 | 585 | 379 | ||
| Charter Communications Operating LLC | 3.900% | 6/1/2052 | 430 | 282 | ||
| Charter Communications Operating LLC | 5.250% | 4/1/2053 | 555 | 448 | ||
| Charter Communications Operating LLC | 6.700% | 12/1/2055 | 80 | 78 | ||
| Charter Communications Operating LLC | 3.850% | 4/1/2061 | 460 | 278 | ||
| Charter Communications Operating LLC | 4.400% | 12/1/2061 | 243 | 163 | ||
| Charter Communications Operating LLC | 3.950% | 6/30/2062 | 1,000 | 611 | ||
| Charter Communications Operating LLC | 5.500% | 4/1/2063 | 285 | 227 | ||
| Comcast Corp. | 3.150% | 2/15/2028 | 450 | 445 | ||
| Comcast Corp. | 3.550% | 5/1/2028 | 245 | 244 | ||
| Comcast Corp. | 4.150% | 10/15/2028 | 890 | 897 | ||
| Comcast Corp. | 2.650% | 2/1/2030 | 360 | 342 | ||
| Comcast Corp. | 3.400% | 4/1/2030 | 385 | 376 | ||
| Comcast Corp. | 4.250% | 10/15/2030 | 530 | 534 | ||
| Comcast Corp. | 1.950% | 1/15/2031 | 435 | 393 | ||
| Comcast Corp. | 1.500% | 2/15/2031 | 270 | 238 | ||
| Comcast Corp. | 4.250% | 1/15/2033 | 540 | 534 | ||
| Comcast Corp. | 4.650% | 2/15/2033 | 455 | 462 | ||
| Comcast Corp. | 7.050% | 3/15/2033 | 456 | 526 | ||
| Comcast Corp. | 4.800% | 5/15/2033 | 235 | 240 | ||
| Comcast Corp. | 5.300% | 6/1/2034 | 560 | 585 | ||
| Comcast Corp. | 4.200% | 8/15/2034 | 340 | 330 | ||
| Comcast Corp. | 5.300% | 5/15/2035 | 270 | 282 | ||
| Comcast Corp. | 5.650% | 6/15/2035 | 370 | 394 | ||
| Comcast Corp. | 4.400% | 8/15/2035 | 135 | 131 | ||
| Comcast Corp. | 3.200% | 7/15/2036 | 185 | 161 | ||
| Comcast Corp. | 3.900% | 3/1/2038 | 245 | 218 | ||
| Comcast Corp. | 4.600% | 10/15/2038 | 200 | 189 | ||
| Comcast Corp. | 3.250% | 11/1/2039 | 425 | 339 | ||
| Comcast Corp. | 3.750% | 4/1/2040 | 225 | 190 | ||
| Comcast Corp. | 4.600% | 8/15/2045 | 175 | 152 | ||
| Comcast Corp. | 3.400% | 7/15/2046 | 195 | 139 | ||
| Comcast Corp. | 4.000% | 8/15/2047 | 95 | 74 | ||
| Comcast Corp. | 3.969% | 11/1/2047 | 570 | 437 | ||
| Comcast Corp. | 4.000% | 3/1/2048 | 80 | 62 | ||
| Comcast Corp. | 4.700% | 10/15/2048 | 273 | 233 | ||
2
ESG U.S. Corporate Bond ETF
3
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Telefonica Emisiones SA | 4.895% | 3/6/2048 | 350 | 301 | ||
| Telefonica Emisiones SA | 5.520% | 3/1/2049 | 405 | 378 | ||
| Telefonica Europe BV | 8.250% | 9/15/2030 | 240 | 277 | ||
| TELUS Corp. | 3.400% | 5/13/2032 | 195 | 182 | ||
| TELUS Corp. | 4.600% | 11/16/2048 | 125 | 109 | ||
| Time Warner Cable Enterprises LLC | 8.375% | 7/15/2033 | 210 | 246 | ||
| Time Warner Cable LLC | 6.550% | 5/1/2037 | 375 | 386 | ||
| Time Warner Cable LLC | 7.300% | 7/1/2038 | 340 | 368 | ||
| Time Warner Cable LLC | 6.750% | 6/15/2039 | 290 | 297 | ||
| Time Warner Cable LLC | 5.875% | 11/15/2040 | 352 | 330 | ||
| Time Warner Cable LLC | 5.500% | 9/1/2041 | 505 | 452 | ||
| Time Warner Cable LLC | 4.500% | 9/15/2042 | 335 | 265 | ||
| T-Mobile USA Inc. | 3.750% | 4/15/2027 | 725 | 724 | ||
| T-Mobile USA Inc. | 2.050% | 2/15/2028 | 415 | 401 | ||
| T-Mobile USA Inc. | 4.950% | 3/15/2028 | 295 | 301 | ||
| T-Mobile USA Inc. | 4.800% | 7/15/2028 | 315 | 321 | ||
| T-Mobile USA Inc. | 4.850% | 1/15/2029 | 125 | 128 | ||
| T-Mobile USA Inc. | 2.625% | 2/15/2029 | 445 | 428 | ||
| T-Mobile USA Inc. | 3.375% | 4/15/2029 | 775 | 761 | ||
| T-Mobile USA Inc. | 3.875% | 4/15/2030 | 1,865 | 1,850 | ||
| T-Mobile USA Inc. | 2.550% | 2/15/2031 | 920 | 851 | ||
| T-Mobile USA Inc. | 2.875% | 2/15/2031 | 425 | 399 | ||
| T-Mobile USA Inc. | 3.500% | 4/15/2031 | 300 | 290 | ||
| T-Mobile USA Inc. | 2.250% | 11/15/2031 | 430 | 386 | ||
| T-Mobile USA Inc. | 2.700% | 3/15/2032 | 385 | 351 | ||
| T-Mobile USA Inc. | 5.125% | 5/15/2032 | 169 | 175 | ||
| T-Mobile USA Inc. | 4.625% | 1/15/2033 | 615 | 619 | ||
| T-Mobile USA Inc. | 5.200% | 1/15/2033 | 485 | 504 | ||
| T-Mobile USA Inc. | 5.050% | 7/15/2033 | 640 | 660 | ||
| T-Mobile USA Inc. | 5.750% | 1/15/2034 | 450 | 481 | ||
| T-Mobile USA Inc. | 5.150% | 4/15/2034 | 130 | 134 | ||
| T-Mobile USA Inc. | 4.700% | 1/15/2035 | 430 | 427 | ||
| T-Mobile USA Inc. | 5.300% | 5/15/2035 | 205 | 212 | ||
| T-Mobile USA Inc. | 4.950% | 11/15/2035 | 230 | 232 | ||
| T-Mobile USA Inc. | 4.375% | 4/15/2040 | 345 | 315 | ||
| T-Mobile USA Inc. | 3.000% | 2/15/2041 | 830 | 631 | ||
| T-Mobile USA Inc. | 4.500% | 4/15/2050 | 725 | 608 | ||
| T-Mobile USA Inc. | 3.300% | 2/15/2051 | 645 | 438 | ||
| T-Mobile USA Inc. | 3.400% | 10/15/2052 | 465 | 317 | ||
| T-Mobile USA Inc. | 5.650% | 1/15/2053 | 340 | 332 | ||
| T-Mobile USA Inc. | 5.750% | 1/15/2054 | 695 | 689 | ||
| T-Mobile USA Inc. | 6.000% | 6/15/2054 | 230 | 236 | ||
| T-Mobile USA Inc. | 5.500% | 1/15/2055 | 195 | 186 | ||
| T-Mobile USA Inc. | 5.250% | 6/15/2055 | 215 | 198 | ||
| T-Mobile USA Inc. | 5.875% | 11/15/2055 | 325 | 328 | ||
| T-Mobile USA Inc. | 5.700% | 1/15/2056 | 440 | 432 | ||
| T-Mobile USA Inc. | 5.850% | 2/15/2056 | 225 | 226 | ||
| T-Mobile USA Inc. | 3.600% | 11/15/2060 | 395 | 266 | ||
| T-Mobile USA Inc. | 5.800% | 9/15/2062 | 135 | 135 | ||
| 2 | TWDC Enterprises 18 Corp. | 2.950% | 6/15/2027 | 300 | 298 | |
| 2 | TWDC Enterprises 18 Corp. | 4.125% | 6/1/2044 | 325 | 277 | |
| Uber Technologies Inc. | 4.300% | 1/15/2030 | 270 | 272 | ||
| Uber Technologies Inc. | 4.800% | 9/15/2034 | 70 | 70 | ||
| Uber Technologies Inc. | 4.800% | 9/15/2035 | 625 | 621 | ||
| Uber Technologies Inc. | 5.350% | 9/15/2054 | 430 | 410 | ||
| VeriSign Inc. | 2.700% | 6/15/2031 | 175 | 159 | ||
| Verizon Communications Inc. | 2.100% | 3/22/2028 | 635 | 613 | ||
| Verizon Communications Inc. | 3.875% | 2/8/2029 | 50 | 50 | ||
| Verizon Communications Inc. | 4.016% | 12/3/2029 | 895 | 896 | ||
| Verizon Communications Inc. | 3.150% | 3/22/2030 | 715 | 692 | ||
| Verizon Communications Inc. | 1.500% | 9/18/2030 | 605 | 541 | ||
| Verizon Communications Inc. | 1.750% | 1/20/2031 | 1,263 | 1,129 | ||
| Verizon Communications Inc. | 2.550% | 3/21/2031 | 867 | 802 | ||
| Verizon Communications Inc. | 2.355% | 3/15/2032 | 1,330 | 1,187 | ||
| Verizon Communications Inc. | 4.750% | 1/15/2033 | 475 | 482 | ||
| Verizon Communications Inc. | 5.050% | 5/9/2033 | 300 | 311 | ||
| Verizon Communications Inc. | 4.500% | 8/10/2033 | 792 | 790 | ||
| Verizon Communications Inc. | 4.400% | 11/1/2034 | 337 | 330 | ||
| Verizon Communications Inc. | 4.780% | 2/15/2035 | 435 | 433 | ||
| Verizon Communications Inc. | 5.250% | 4/2/2035 | 524 | 540 | ||
4
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Verizon Communications Inc. | 4.272% | 1/15/2036 | 360 | 342 | ||
| Verizon Communications Inc. | 5.000% | 1/15/2036 | 675 | 678 | ||
| Verizon Communications Inc. | 5.250% | 3/16/2037 | 660 | 672 | ||
| Verizon Communications Inc. | 5.401% | 7/2/2037 | 1,562 | 1,604 | ||
| Verizon Communications Inc. | 4.812% | 3/15/2039 | 320 | 309 | ||
| Verizon Communications Inc. | 2.650% | 11/20/2040 | 990 | 721 | ||
| Verizon Communications Inc. | 3.400% | 3/22/2041 | 810 | 645 | ||
| Verizon Communications Inc. | 2.850% | 9/3/2041 | 290 | 212 | ||
| Verizon Communications Inc. | 6.550% | 9/15/2043 | 165 | 184 | ||
| Verizon Communications Inc. | 5.750% | 11/30/2045 | 425 | 430 | ||
| Verizon Communications Inc. | 4.862% | 8/21/2046 | 420 | 378 | ||
| Verizon Communications Inc. | 4.522% | 9/15/2048 | 320 | 272 | ||
| Verizon Communications Inc. | 4.000% | 3/22/2050 | 600 | 471 | ||
| Verizon Communications Inc. | 2.875% | 11/20/2050 | 1 | — | ||
| Verizon Communications Inc. | 3.550% | 3/22/2051 | 1,085 | 786 | ||
| Verizon Communications Inc. | 3.875% | 3/1/2052 | 365 | 275 | ||
| Verizon Communications Inc. | 5.500% | 2/23/2054 | 300 | 292 | ||
| Verizon Communications Inc. | 5.012% | 8/21/2054 | 55 | 49 | ||
| Verizon Communications Inc. | 5.875% | 11/30/2055 | 870 | 874 | ||
| Verizon Communications Inc. | 2.987% | 10/30/2056 | 615 | 374 | ||
| Verizon Communications Inc. | 3.000% | 11/20/2060 | 435 | 259 | ||
| Verizon Communications Inc. | 3.700% | 3/22/2061 | 715 | 494 | ||
| Verizon Communications Inc. | 6.000% | 11/30/2065 | 500 | 502 | ||
| Vodafone Group plc | 6.150% | 2/27/2037 | 318 | 350 | ||
| Vodafone Group plc | 5.250% | 5/30/2048 | 255 | 240 | ||
| Vodafone Group plc | 4.875% | 6/19/2049 | 505 | 451 | ||
| Vodafone Group plc | 4.250% | 9/17/2050 | 375 | 301 | ||
| Vodafone Group plc | 5.750% | 6/28/2054 | 350 | 345 | ||
| Vodafone Group plc | 5.875% | 6/28/2064 | 210 | 207 | ||
| Walt Disney Co. | 2.200% | 1/13/2028 | 754 | 736 | ||
| Walt Disney Co. | 2.000% | 9/1/2029 | 483 | 455 | ||
| Walt Disney Co. | 3.800% | 3/22/2030 | 545 | 544 | ||
| Walt Disney Co. | 2.650% | 1/13/2031 | 525 | 497 | ||
| Walt Disney Co. | 6.200% | 12/15/2034 | 240 | 271 | ||
| Walt Disney Co. | 6.400% | 12/15/2035 | 350 | 398 | ||
| Walt Disney Co. | 4.625% | 3/14/2036 | 175 | 174 | ||
| Walt Disney Co. | 4.625% | 3/23/2040 | 655 | 633 | ||
| Walt Disney Co. | 3.500% | 5/13/2040 | 600 | 509 | ||
| Walt Disney Co. | 2.750% | 9/1/2049 | 600 | 386 | ||
| Walt Disney Co. | 4.700% | 3/23/2050 | 270 | 243 | ||
| Walt Disney Co. | 3.600% | 1/13/2051 | 500 | 376 | ||
| Walt Disney Co. | 3.800% | 5/13/2060 | 335 | 247 | ||
| Weibo Corp. | 3.375% | 7/8/2030 | 195 | 187 | ||
| 134,510 | ||||||
| Consumer Discretionary (7.2%) | ||||||
| Alibaba Group Holding Ltd. | 3.400% | 12/6/2027 | 410 | 407 | ||
| Alibaba Group Holding Ltd. | 4.875% | 5/26/2030 | 200 | 208 | ||
| Alibaba Group Holding Ltd. | 2.125% | 2/9/2031 | 245 | 225 | ||
| Alibaba Group Holding Ltd. | 5.250% | 5/26/2035 | 200 | 210 | ||
| Alibaba Group Holding Ltd. | 4.000% | 12/6/2037 | 385 | 359 | ||
| Alibaba Group Holding Ltd. | 2.700% | 2/9/2041 | 290 | 221 | ||
| Alibaba Group Holding Ltd. | 4.200% | 12/6/2047 | 360 | 305 | ||
| Alibaba Group Holding Ltd. | 3.150% | 2/9/2051 | 315 | 218 | ||
| Alibaba Group Holding Ltd. | 4.400% | 12/6/2057 | 195 | 165 | ||
| Alibaba Group Holding Ltd. | 3.250% | 2/9/2061 | 355 | 234 | ||
| Amazon.com Inc. | 3.300% | 4/13/2027 | 306 | 305 | ||
| Amazon.com Inc. | 1.200% | 6/3/2027 | 390 | 379 | ||
| Amazon.com Inc. | 3.150% | 8/22/2027 | 885 | 880 | ||
| Amazon.com Inc. | 4.550% | 12/1/2027 | 460 | 467 | ||
| Amazon.com Inc. | 1.650% | 5/12/2028 | 880 | 844 | ||
| Amazon.com Inc. | 3.450% | 4/13/2029 | 820 | 814 | ||
| Amazon.com Inc. | 4.650% | 12/1/2029 | 453 | 466 | ||
| Amazon.com Inc. | 1.500% | 6/3/2030 | 445 | 403 | ||
| Amazon.com Inc. | 2.100% | 5/12/2031 | 540 | 492 | ||
| Amazon.com Inc. | 3.600% | 4/13/2032 | 730 | 711 | ||
| Amazon.com Inc. | 4.700% | 12/1/2032 | 480 | 496 | ||
| Amazon.com Inc. | 4.800% | 12/5/2034 | 1,790 | 1,855 | ||
| Amazon.com Inc. | 4.650% | 11/20/2035 | 200 | 201 | ||
| Amazon.com Inc. | 3.875% | 8/22/2037 | 735 | 682 | ||
5
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Amazon.com Inc. | 2.875% | 5/12/2041 | 395 | 303 | ||
| Amazon.com Inc. | 4.950% | 12/5/2044 | 785 | 761 | ||
| Amazon.com Inc. | 4.050% | 8/22/2047 | 1,205 | 996 | ||
| Amazon.com Inc. | 2.500% | 6/3/2050 | 630 | 381 | ||
| Amazon.com Inc. | 3.100% | 5/12/2051 | 665 | 452 | ||
| Amazon.com Inc. | 3.950% | 4/13/2052 | 691 | 545 | ||
| Amazon.com Inc. | 4.250% | 8/22/2057 | 984 | 793 | ||
| Amazon.com Inc. | 2.700% | 6/3/2060 | 248 | 140 | ||
| Amazon.com Inc. | 3.250% | 5/12/2061 | 810 | 521 | ||
| Amazon.com Inc. | 4.100% | 4/13/2062 | 655 | 504 | ||
| 2 | American Honda Finance Corp. | 4.450% | 10/22/2027 | 165 | 167 | |
| 2 | American Honda Finance Corp. | 2.000% | 3/24/2028 | 170 | 164 | |
| 2 | American Honda Finance Corp. | 5.125% | 7/7/2028 | 215 | 221 | |
| American Honda Finance Corp. | 5.650% | 11/15/2028 | 155 | 162 | ||
| American Honda Finance Corp. | 4.900% | 3/13/2029 | 155 | 159 | ||
| 2 | American Honda Finance Corp. | 4.400% | 9/5/2029 | 150 | 152 | |
| 2 | American Honda Finance Corp. | 5.050% | 7/10/2031 | 350 | 363 | |
| 2 | American Honda Finance Corp. | 4.900% | 1/10/2034 | 340 | 345 | |
| Aptiv Swiss Holdings Ltd. | 3.250% | 3/1/2032 | 105 | 99 | ||
| Aptiv Swiss Holdings Ltd. | 3.100% | 12/1/2051 | 235 | 153 | ||
| Aptiv Swiss Holdings Ltd. | 4.150% | 5/1/2052 | 260 | 202 | ||
| AutoZone Inc. | 4.000% | 4/15/2030 | 330 | 329 | ||
| AutoZone Inc. | 4.750% | 8/1/2032 | 260 | 264 | ||
| BorgWarner Inc. | 2.650% | 7/1/2027 | 210 | 206 | ||
| Dick's Sporting Goods Inc. | 4.100% | 1/15/2052 | 200 | 146 | ||
| eBay Inc. | 3.600% | 6/5/2027 | 420 | 418 | ||
| eBay Inc. | 2.700% | 3/11/2030 | 115 | 109 | ||
| eBay Inc. | 2.600% | 5/10/2031 | 135 | 124 | ||
| eBay Inc. | 4.000% | 7/15/2042 | 622 | 519 | ||
| eBay Inc. | 3.650% | 5/10/2051 | 150 | 111 | ||
| Ferguson Enterprises Inc. | 4.350% | 3/15/2031 | 380 | 381 | ||
| Ferguson Enterprises Inc. | 5.000% | 10/3/2034 | 135 | 137 | ||
| Ford Motor Co. | 7.450% | 7/16/2031 | 218 | 243 | ||
| Ford Motor Co. | 3.250% | 2/12/2032 | 335 | 301 | ||
| Ford Motor Co. | 6.100% | 8/19/2032 | 445 | 465 | ||
| Ford Motor Co. | 4.750% | 1/15/2043 | 615 | 495 | ||
| Ford Motor Co. | 5.291% | 12/8/2046 | 490 | 418 | ||
| Ford Motor Credit Co. LLC | 5.800% | 3/5/2027 | 315 | 319 | ||
| Ford Motor Credit Co. LLC | 5.850% | 5/17/2027 | 540 | 549 | ||
| Ford Motor Credit Co. LLC | 4.950% | 5/28/2027 | 295 | 297 | ||
| Ford Motor Credit Co. LLC | 4.125% | 8/17/2027 | 180 | 179 | ||
| Ford Motor Credit Co. LLC | 3.815% | 11/2/2027 | 350 | 347 | ||
| Ford Motor Credit Co. LLC | 7.350% | 11/4/2027 | 185 | 193 | ||
| Ford Motor Credit Co. LLC | 2.900% | 2/16/2028 | 425 | 412 | ||
| Ford Motor Credit Co. LLC | 6.800% | 5/12/2028 | 400 | 418 | ||
| Ford Motor Credit Co. LLC | 6.798% | 11/7/2028 | 384 | 404 | ||
| Ford Motor Credit Co. LLC | 2.900% | 2/10/2029 | 430 | 409 | ||
| Ford Motor Credit Co. LLC | 5.800% | 3/8/2029 | 370 | 381 | ||
| Ford Motor Credit Co. LLC | 5.113% | 5/3/2029 | 560 | 565 | ||
| Ford Motor Credit Co. LLC | 5.303% | 9/6/2029 | 285 | 289 | ||
| Ford Motor Credit Co. LLC | 5.875% | 11/7/2029 | 495 | 512 | ||
| Ford Motor Credit Co. LLC | 7.350% | 3/6/2030 | 160 | 173 | ||
| Ford Motor Credit Co. LLC | 7.200% | 6/10/2030 | 160 | 173 | ||
| Ford Motor Credit Co. LLC | 5.730% | 9/5/2030 | 450 | 463 | ||
| Ford Motor Credit Co. LLC | 4.000% | 11/13/2030 | 445 | 426 | ||
| Ford Motor Credit Co. LLC | 6.050% | 3/5/2031 | 250 | 260 | ||
| Ford Motor Credit Co. LLC | 3.625% | 6/17/2031 | 295 | 275 | ||
| Ford Motor Credit Co. LLC | 6.054% | 11/5/2031 | 425 | 442 | ||
| Ford Motor Credit Co. LLC | 6.532% | 3/19/2032 | 200 | 213 | ||
| Ford Motor Credit Co. LLC | 5.753% | 4/6/2033 | 250 | 255 | ||
| Ford Motor Credit Co. LLC | 7.122% | 11/7/2033 | 300 | 327 | ||
| Ford Motor Credit Co. LLC | 6.125% | 3/8/2034 | 230 | 238 | ||
| Ford Motor Credit Co. LLC | 6.500% | 2/7/2035 | 455 | 478 | ||
| General Motors Co. | 5.000% | 4/1/2035 | 175 | 174 | ||
| General Motors Co. | 6.600% | 4/1/2036 | 740 | 812 | ||
| General Motors Co. | 6.250% | 10/2/2043 | 120 | 123 | ||
| General Motors Co. | 5.200% | 4/1/2045 | 485 | 442 | ||
| General Motors Co. | 6.750% | 4/1/2046 | 150 | 162 | ||
| General Motors Co. | 5.400% | 4/1/2048 | 105 | 97 | ||
| General Motors Co. | 5.950% | 4/1/2049 | 200 | 197 | ||
6
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| General Motors Financial Co. Inc. | 5.000% | 4/9/2027 | 305 | 308 | ||
| General Motors Financial Co. Inc. | 5.400% | 5/8/2027 | 503 | 511 | ||
| General Motors Financial Co. Inc. | 5.350% | 7/15/2027 | 180 | 183 | ||
| General Motors Financial Co. Inc. | 2.700% | 8/20/2027 | 315 | 309 | ||
| General Motors Financial Co. Inc. | 6.000% | 1/9/2028 | 355 | 367 | ||
| General Motors Financial Co. Inc. | 5.050% | 4/4/2028 | 632 | 644 | ||
| General Motors Financial Co. Inc. | 2.400% | 4/10/2028 | 155 | 150 | ||
| General Motors Financial Co. Inc. | 5.800% | 6/23/2028 | 505 | 523 | ||
| General Motors Financial Co. Inc. | 2.400% | 10/15/2028 | 255 | 244 | ||
| General Motors Financial Co. Inc. | 5.800% | 1/7/2029 | 373 | 390 | ||
| General Motors Financial Co. Inc. | 4.300% | 4/6/2029 | 465 | 467 | ||
| General Motors Financial Co. Inc. | 5.550% | 7/15/2029 | 375 | 390 | ||
| General Motors Financial Co. Inc. | 4.900% | 10/6/2029 | 185 | 189 | ||
| General Motors Financial Co. Inc. | 5.350% | 1/7/2030 | 445 | 462 | ||
| General Motors Financial Co. Inc. | 5.850% | 4/6/2030 | 250 | 264 | ||
| General Motors Financial Co. Inc. | 3.600% | 6/21/2030 | 445 | 432 | ||
| General Motors Financial Co. Inc. | 5.450% | 7/15/2030 | 125 | 131 | ||
| General Motors Financial Co. Inc. | 2.350% | 1/8/2031 | 345 | 314 | ||
| General Motors Financial Co. Inc. | 5.750% | 2/8/2031 | 380 | 401 | ||
| General Motors Financial Co. Inc. | 2.700% | 6/10/2031 | 145 | 133 | ||
| General Motors Financial Co. Inc. | 5.600% | 6/18/2031 | 705 | 740 | ||
| General Motors Financial Co. Inc. | 3.100% | 1/12/2032 | 228 | 211 | ||
| General Motors Financial Co. Inc. | 5.625% | 4/4/2032 | 358 | 376 | ||
| General Motors Financial Co. Inc. | 6.400% | 1/9/2033 | 460 | 501 | ||
| General Motors Financial Co. Inc. | 6.100% | 1/7/2034 | 310 | 332 | ||
| General Motors Financial Co. Inc. | 5.950% | 4/4/2034 | 445 | 472 | ||
| General Motors Financial Co. Inc. | 5.450% | 9/6/2034 | 285 | 293 | ||
| General Motors Financial Co. Inc. | 5.900% | 1/7/2035 | 438 | 460 | ||
| General Motors Financial Co. Inc. | 6.150% | 7/15/2035 | 485 | 519 | ||
| Genuine Parts Co. | 4.950% | 8/15/2029 | 390 | 395 | ||
| 2 | George Washington University | 4.126% | 9/15/2048 | 175 | 147 | |
| Hasbro Inc. | 3.900% | 11/19/2029 | 314 | 311 | ||
| Home Depot Inc. | 2.500% | 4/15/2027 | 240 | 237 | ||
| Home Depot Inc. | 2.875% | 4/15/2027 | 165 | 164 | ||
| Home Depot Inc. | 4.875% | 6/25/2027 | 555 | 563 | ||
| Home Depot Inc. | 2.800% | 9/14/2027 | 275 | 272 | ||
| Home Depot Inc. | 1.500% | 9/15/2028 | 370 | 351 | ||
| Home Depot Inc. | 3.900% | 12/6/2028 | 350 | 352 | ||
| Home Depot Inc. | 4.900% | 4/15/2029 | 435 | 449 | ||
| Home Depot Inc. | 2.950% | 6/15/2029 | 485 | 472 | ||
| Home Depot Inc. | 4.750% | 6/25/2029 | 395 | 407 | ||
| Home Depot Inc. | 2.700% | 4/15/2030 | 620 | 592 | ||
| Home Depot Inc. | 1.375% | 3/15/2031 | 270 | 238 | ||
| Home Depot Inc. | 4.850% | 6/25/2031 | 135 | 141 | ||
| Home Depot Inc. | 1.875% | 9/15/2031 | 240 | 214 | ||
| Home Depot Inc. | 3.250% | 4/15/2032 | 550 | 525 | ||
| Home Depot Inc. | 4.500% | 9/15/2032 | 245 | 250 | ||
| Home Depot Inc. | 4.950% | 6/25/2034 | 420 | 434 | ||
| Home Depot Inc. | 5.875% | 12/16/2036 | 583 | 637 | ||
| Home Depot Inc. | 3.300% | 4/15/2040 | 181 | 150 | ||
| Home Depot Inc. | 5.950% | 4/1/2041 | 185 | 202 | ||
| Home Depot Inc. | 4.200% | 4/1/2043 | 155 | 137 | ||
| Home Depot Inc. | 4.875% | 2/15/2044 | 270 | 256 | ||
| Home Depot Inc. | 4.400% | 3/15/2045 | 205 | 181 | ||
| Home Depot Inc. | 4.250% | 4/1/2046 | 285 | 245 | ||
| Home Depot Inc. | 3.900% | 6/15/2047 | 240 | 193 | ||
| Home Depot Inc. | 4.500% | 12/6/2048 | 310 | 271 | ||
| Home Depot Inc. | 3.125% | 12/15/2049 | 175 | 121 | ||
| Home Depot Inc. | 3.350% | 4/15/2050 | 360 | 258 | ||
| Home Depot Inc. | 2.375% | 3/15/2051 | 360 | 209 | ||
| Home Depot Inc. | 2.750% | 9/15/2051 | 450 | 283 | ||
| Home Depot Inc. | 3.625% | 4/15/2052 | 500 | 371 | ||
| Home Depot Inc. | 4.950% | 9/15/2052 | 315 | 291 | ||
| Home Depot Inc. | 5.300% | 6/25/2054 | 335 | 325 | ||
| Home Depot Inc. | 3.500% | 9/15/2056 | 635 | 450 | ||
| Honda Motor Co. Ltd. | 2.534% | 3/10/2027 | 160 | 158 | ||
| Honda Motor Co. Ltd. | 4.688% | 7/8/2030 | 400 | 408 | ||
| Honda Motor Co. Ltd. | 2.967% | 3/10/2032 | 215 | 199 | ||
| Honda Motor Co. Ltd. | 5.337% | 7/8/2035 | 355 | 367 | ||
| Leland Stanford Junior University | 3.647% | 5/1/2048 | 160 | 130 | ||
7
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Lowe's Cos. Inc. | 3.350% | 4/1/2027 | 110 | 109 | ||
| Lowe's Cos. Inc. | 3.100% | 5/3/2027 | 610 | 605 | ||
| Lowe's Cos. Inc. | 1.300% | 4/15/2028 | 430 | 408 | ||
| Lowe's Cos. Inc. | 1.700% | 9/15/2028 | 220 | 208 | ||
| Lowe's Cos. Inc. | 3.650% | 4/5/2029 | 486 | 482 | ||
| Lowe's Cos. Inc. | 4.500% | 4/15/2030 | 265 | 269 | ||
| Lowe's Cos. Inc. | 1.700% | 10/15/2030 | 261 | 234 | ||
| Lowe's Cos. Inc. | 4.250% | 3/15/2031 | 680 | 682 | ||
| Lowe's Cos. Inc. | 2.625% | 4/1/2031 | 440 | 408 | ||
| Lowe's Cos. Inc. | 3.750% | 4/1/2032 | 445 | 431 | ||
| Lowe's Cos. Inc. | 5.000% | 4/15/2033 | 400 | 413 | ||
| Lowe's Cos. Inc. | 5.150% | 7/1/2033 | 505 | 524 | ||
| Lowe's Cos. Inc. | 2.800% | 9/15/2041 | 275 | 202 | ||
| Lowe's Cos. Inc. | 3.700% | 4/15/2046 | 270 | 208 | ||
| Lowe's Cos. Inc. | 4.050% | 5/3/2047 | 400 | 322 | ||
| Lowe's Cos. Inc. | 3.000% | 10/15/2050 | 495 | 321 | ||
| Lowe's Cos. Inc. | 4.250% | 4/1/2052 | 485 | 388 | ||
| Lowe's Cos. Inc. | 5.625% | 4/15/2053 | 465 | 458 | ||
| Lowe's Cos. Inc. | 4.450% | 4/1/2062 | 325 | 258 | ||
| Lowe's Cos. Inc. | 5.800% | 9/15/2062 | 210 | 208 | ||
| Magna International Inc. | 2.450% | 6/15/2030 | 330 | 309 | ||
| Marriott International Inc. | 5.000% | 10/15/2027 | 205 | 208 | ||
| Marriott International Inc. | 4.900% | 4/15/2029 | 125 | 128 | ||
| Marriott International Inc. | 4.875% | 5/15/2029 | 50 | 51 | ||
| 2 | Marriott International Inc. | 4.625% | 6/15/2030 | 450 | 458 | |
| 2 | Marriott International Inc. | 2.850% | 4/15/2031 | 170 | 159 | |
| Marriott International Inc. | 5.100% | 4/15/2032 | 50 | 52 | ||
| 2 | Marriott International Inc. | 3.500% | 10/15/2032 | 205 | 193 | |
| Marriott International Inc. | 5.300% | 5/15/2034 | 110 | 114 | ||
| Marriott International Inc. | 5.350% | 3/15/2035 | 445 | 461 | ||
| Marriott International Inc. | 5.500% | 4/15/2037 | 142 | 147 | ||
| 2 | McDonald's Corp. | 3.500% | 3/1/2027 | 145 | 145 | |
| 2 | McDonald's Corp. | 3.500% | 7/1/2027 | 195 | 194 | |
| 2 | McDonald's Corp. | 3.800% | 4/1/2028 | 190 | 190 | |
| 2 | McDonald's Corp. | 2.625% | 9/1/2029 | 154 | 148 | |
| 2 | McDonald's Corp. | 2.125% | 3/1/2030 | 245 | 229 | |
| 2 | McDonald's Corp. | 3.600% | 7/1/2030 | 105 | 104 | |
| 2 | McDonald's Corp. | 4.600% | 9/9/2032 | 85 | 87 | |
| McDonald's Corp. | 4.950% | 3/3/2035 | 191 | 196 | ||
| 2 | McDonald's Corp. | 4.700% | 12/9/2035 | 190 | 192 | |
| McDonald's Corp. | 5.000% | 2/13/2036 | 305 | 313 | ||
| 2 | McDonald's Corp. | 6.300% | 10/15/2037 | 180 | 203 | |
| 2 | McDonald's Corp. | 6.300% | 3/1/2038 | 195 | 219 | |
| 2 | McDonald's Corp. | 4.875% | 12/9/2045 | 350 | 325 | |
| 2 | McDonald's Corp. | 4.450% | 3/1/2047 | 305 | 266 | |
| 2 | McDonald's Corp. | 4.450% | 9/1/2048 | 277 | 240 | |
| 2 | McDonald's Corp. | 3.625% | 9/1/2049 | 360 | 271 | |
| 2 | McDonald's Corp. | 4.200% | 4/1/2050 | 335 | 276 | |
| 2 | McDonald's Corp. | 5.150% | 9/9/2052 | 200 | 189 | |
| McDonald's Corp. | 5.450% | 8/14/2053 | 170 | 167 | ||
| Mercedes-Benz Finance North America LLC | 8.500% | 1/18/2031 | 415 | 493 | ||
| NIKE Inc. | 2.750% | 3/27/2027 | 244 | 242 | ||
| NIKE Inc. | 2.850% | 3/27/2030 | 335 | 322 | ||
| NIKE Inc. | 3.250% | 3/27/2040 | 270 | 222 | ||
| NIKE Inc. | 3.875% | 11/1/2045 | 220 | 181 | ||
| NIKE Inc. | 3.375% | 3/27/2050 | 478 | 350 | ||
| NVR Inc. | 3.000% | 5/15/2030 | 202 | 193 | ||
| O'Reilly Automotive Inc. | 3.600% | 9/1/2027 | 160 | 159 | ||
| O'Reilly Automotive Inc. | 4.700% | 6/15/2032 | 135 | 137 | ||
| Owens Corning | 5.700% | 6/15/2034 | 295 | 313 | ||
| Ralph Lauren Corp. | 2.950% | 6/15/2030 | 180 | 172 | ||
| Royal Caribbean Cruises Ltd. | 5.375% | 1/15/2036 | 495 | 505 | ||
| Stanley Black & Decker Inc. | 2.300% | 3/15/2030 | 260 | 241 | ||
| Starbucks Corp. | 4.500% | 5/15/2028 | 240 | 243 | ||
| Starbucks Corp. | 4.000% | 11/15/2028 | 170 | 170 | ||
| Starbucks Corp. | 3.550% | 8/15/2029 | 310 | 307 | ||
| Starbucks Corp. | 2.250% | 3/12/2030 | 100 | 93 | ||
| Starbucks Corp. | 2.550% | 11/15/2030 | 315 | 294 | ||
| Starbucks Corp. | 3.000% | 2/14/2032 | 175 | 163 | ||
| Starbucks Corp. | 4.500% | 11/15/2048 | 215 | 185 | ||
8
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Starbucks Corp. | 4.450% | 8/15/2049 | 260 | 222 | ||
| Starbucks Corp. | 3.500% | 11/15/2050 | 295 | 213 | ||
| Tapestry Inc. | 5.500% | 3/11/2035 | 200 | 207 | ||
| Tractor Supply Co. | 5.250% | 5/15/2033 | 245 | 254 | ||
| 77,125 | ||||||
| Consumer Staples (3.5%) | ||||||
| Bunge Ltd. Finance Corp. | 4.200% | 9/17/2029 | 250 | 252 | ||
| Bunge Ltd. Finance Corp. | 2.750% | 5/14/2031 | 185 | 172 | ||
| Bunge Ltd. Finance Corp. | 4.650% | 9/17/2034 | 390 | 388 | ||
| Campbell's Co. | 4.150% | 3/15/2028 | 225 | 226 | ||
| Campbell's Co. | 5.400% | 3/21/2034 | 270 | 276 | ||
| Campbell's Co. | 4.750% | 3/23/2035 | 200 | 194 | ||
| Coca-Cola Co. | 3.375% | 3/25/2027 | 235 | 235 | ||
| Coca-Cola Co. | 1.450% | 6/1/2027 | 490 | 477 | ||
| Coca-Cola Co. | 1.500% | 3/5/2028 | 230 | 221 | ||
| Coca-Cola Co. | 1.000% | 3/15/2028 | 435 | 414 | ||
| Coca-Cola Co. | 2.125% | 9/6/2029 | 315 | 299 | ||
| Coca-Cola Co. | 3.450% | 3/25/2030 | 220 | 217 | ||
| Coca-Cola Co. | 1.650% | 6/1/2030 | 410 | 376 | ||
| Coca-Cola Co. | 2.000% | 3/5/2031 | 145 | 133 | ||
| Coca-Cola Co. | 1.375% | 3/15/2031 | 380 | 337 | ||
| Coca-Cola Co. | 2.250% | 1/5/2032 | 365 | 333 | ||
| Coca-Cola Co. | 5.000% | 5/13/2034 | 175 | 184 | ||
| Coca-Cola Co. | 4.650% | 8/14/2034 | 415 | 429 | ||
| Coca-Cola Co. | 2.500% | 6/1/2040 | 295 | 224 | ||
| Coca-Cola Co. | 2.875% | 5/5/2041 | 95 | 74 | ||
| Coca-Cola Co. | 2.600% | 6/1/2050 | 303 | 192 | ||
| Coca-Cola Co. | 3.000% | 3/5/2051 | 320 | 218 | ||
| Coca-Cola Co. | 2.500% | 3/15/2051 | 330 | 203 | ||
| Coca-Cola Co. | 5.300% | 5/13/2054 | 115 | 114 | ||
| Coca-Cola Co. | 5.200% | 1/14/2055 | 400 | 392 | ||
| Coca-Cola Co. | 2.750% | 6/1/2060 | 455 | 272 | ||
| Coca-Cola Co. | 5.400% | 5/13/2064 | 331 | 327 | ||
| Coca-Cola Femsa SAB de CV | 2.750% | 1/22/2030 | 430 | 411 | ||
| Conagra Brands Inc. | 1.375% | 11/1/2027 | 175 | 168 | ||
| Conagra Brands Inc. | 4.850% | 11/1/2028 | 610 | 619 | ||
| Conagra Brands Inc. | 5.300% | 11/1/2038 | 210 | 202 | ||
| Conagra Brands Inc. | 5.400% | 11/1/2048 | 185 | 166 | ||
| Dollar General Corp. | 3.500% | 4/3/2030 | 245 | 238 | ||
| Dollar General Corp. | 5.450% | 7/5/2033 | 250 | 262 | ||
| Dollar Tree Inc. | 4.200% | 5/15/2028 | 275 | 276 | ||
| Dollar Tree Inc. | 2.650% | 12/1/2031 | 254 | 232 | ||
| General Mills Inc. | 4.200% | 4/17/2028 | 429 | 431 | ||
| General Mills Inc. | 4.875% | 1/30/2030 | 275 | 282 | ||
| General Mills Inc. | 2.875% | 4/15/2030 | 155 | 147 | ||
| General Mills Inc. | 4.950% | 3/29/2033 | 200 | 204 | ||
| General Mills Inc. | 5.250% | 1/30/2035 | 125 | 128 | ||
| Haleon US Capital LLC | 3.375% | 3/24/2027 | 290 | 289 | ||
| Haleon US Capital LLC | 3.375% | 3/24/2029 | 335 | 329 | ||
| Haleon US Capital LLC | 3.625% | 3/24/2032 | 365 | 352 | ||
| Haleon US Capital LLC | 4.000% | 3/24/2052 | 230 | 185 | ||
| Hormel Foods Corp. | 1.700% | 6/3/2028 | 330 | 315 | ||
| Hormel Foods Corp. | 1.800% | 6/11/2030 | 130 | 119 | ||
| J M Smucker Co. | 5.900% | 11/15/2028 | 185 | 194 | ||
| J M Smucker Co. | 6.200% | 11/15/2033 | 150 | 164 | ||
| J M Smucker Co. | 6.500% | 11/15/2043 | 165 | 180 | ||
| J M Smucker Co. | 6.500% | 11/15/2053 | 310 | 341 | ||
| JBS NV | 3.625% | 1/15/2032 | 485 | 459 | ||
| JBS NV | 3.000% | 5/15/2032 | 345 | 314 | ||
| JBS NV | 5.750% | 4/1/2033 | 430 | 452 | ||
| JBS NV | 6.750% | 3/15/2034 | 347 | 387 | ||
| JBS NV | 5.950% | 4/20/2035 | 100 | 106 | ||
| JBS NV | 5.500% | 1/15/2036 | 450 | 462 | ||
| JBS NV | 4.375% | 2/2/2052 | 205 | 162 | ||
| JBS NV | 6.500% | 12/1/2052 | 545 | 575 | ||
| JBS NV | 7.250% | 11/15/2053 | 269 | 307 | ||
| JBS NV | 6.250% | 3/1/2056 | 335 | 342 | ||
| JBS NV | 6.375% | 4/15/2066 | 265 | 270 | ||
| Kenvue Inc. | 5.050% | 3/22/2028 | 255 | 261 | ||
9
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Kenvue Inc. | 5.000% | 3/22/2030 | 440 | 456 | ||
| Kenvue Inc. | 4.850% | 5/22/2032 | 125 | 129 | ||
| Kenvue Inc. | 4.900% | 3/22/2033 | 610 | 630 | ||
| Kenvue Inc. | 5.050% | 3/22/2053 | 370 | 345 | ||
| Kenvue Inc. | 5.200% | 3/22/2063 | 202 | 188 | ||
| 2 | Keurig Dr Pepper Inc. | 5.100% | 3/15/2027 | 125 | 126 | |
| Keurig Dr Pepper Inc. | 4.597% | 5/25/2028 | 155 | 157 | ||
| Keurig Dr Pepper Inc. | 5.050% | 3/15/2029 | 340 | 348 | ||
| Keurig Dr Pepper Inc. | 3.950% | 4/15/2029 | 150 | 149 | ||
| Keurig Dr Pepper Inc. | 3.200% | 5/1/2030 | 145 | 139 | ||
| Keurig Dr Pepper Inc. | 4.050% | 4/15/2032 | 150 | 146 | ||
| Keurig Dr Pepper Inc. | 3.800% | 5/1/2050 | 255 | 188 | ||
| Keurig Dr Pepper Inc. | 4.500% | 4/15/2052 | 315 | 260 | ||
| Kimberly-Clark Corp. | 3.100% | 3/26/2030 | 280 | 271 | ||
| Kraft Heinz Foods Co. | 3.875% | 5/15/2027 | 240 | 240 | ||
| Kraft Heinz Foods Co. | 6.875% | 1/26/2039 | 170 | 191 | ||
| Kraft Heinz Foods Co. | 5.000% | 6/4/2042 | 350 | 321 | ||
| Kraft Heinz Foods Co. | 5.200% | 7/15/2045 | 355 | 325 | ||
| Kraft Heinz Foods Co. | 4.375% | 6/1/2046 | 770 | 632 | ||
| Kraft Heinz Foods Co. | 4.875% | 10/1/2049 | 430 | 371 | ||
| McCormick & Co. Inc. | 3.400% | 8/15/2027 | 95 | 95 | ||
| Mondelez International Inc. | 2.625% | 3/17/2027 | 65 | 64 | ||
| Mondelez International Inc. | 2.750% | 4/13/2030 | 347 | 329 | ||
| Mondelez International Inc. | 3.000% | 3/17/2032 | 137 | 127 | ||
| Mondelez International Inc. | 2.625% | 9/4/2050 | 430 | 262 | ||
| PepsiCo Inc. | 3.000% | 10/15/2027 | 470 | 466 | ||
| PepsiCo Inc. | 3.600% | 2/18/2028 | 140 | 140 | ||
| PepsiCo Inc. | 2.625% | 7/29/2029 | 360 | 347 | ||
| PepsiCo Inc. | 2.750% | 3/19/2030 | 329 | 315 | ||
| PepsiCo Inc. | 1.625% | 5/1/2030 | 425 | 389 | ||
| PepsiCo Inc. | 1.400% | 2/25/2031 | 205 | 182 | ||
| PepsiCo Inc. | 1.950% | 10/21/2031 | 250 | 224 | ||
| PepsiCo Inc. | 4.650% | 7/23/2032 | 545 | 562 | ||
| PepsiCo Inc. | 5.000% | 7/23/2035 | 780 | 808 | ||
| PepsiCo Inc. | 2.625% | 10/21/2041 | 160 | 119 | ||
| PepsiCo Inc. | 4.450% | 4/14/2046 | 270 | 245 | ||
| PepsiCo Inc. | 3.450% | 10/6/2046 | 240 | 187 | ||
| PepsiCo Inc. | 2.875% | 10/15/2049 | 150 | 101 | ||
| PepsiCo Inc. | 3.625% | 3/19/2050 | 285 | 220 | ||
| PepsiCo Inc. | 2.750% | 10/21/2051 | 255 | 164 | ||
| PepsiCo Inc. | 5.250% | 7/17/2054 | 150 | 149 | ||
| Pilgrim's Pride Corp. | 4.250% | 4/15/2031 | 840 | 824 | ||
| Pilgrim's Pride Corp. | 3.500% | 3/1/2032 | 230 | 215 | ||
| Pilgrim's Pride Corp. | 6.250% | 7/1/2033 | 420 | 452 | ||
| Procter & Gamble Co. | 2.850% | 8/11/2027 | 205 | 203 | ||
| Procter & Gamble Co. | 3.000% | 3/25/2030 | 560 | 544 | ||
| Procter & Gamble Co. | 1.200% | 10/29/2030 | 315 | 280 | ||
| Procter & Gamble Co. | 1.950% | 4/23/2031 | 210 | 192 | ||
| Sysco Corp. | 3.250% | 7/15/2027 | 165 | 164 | ||
| Sysco Corp. | 5.950% | 4/1/2030 | 462 | 492 | ||
| Sysco Corp. | 6.600% | 4/1/2050 | 325 | 364 | ||
| Sysco Corp. | 3.150% | 12/14/2051 | 145 | 98 | ||
| Target Corp. | 3.375% | 4/15/2029 | 240 | 237 | ||
| Target Corp. | 2.350% | 2/15/2030 | 150 | 142 | ||
| Target Corp. | 4.500% | 9/15/2032 | 85 | 87 | ||
| Target Corp. | 4.500% | 9/15/2034 | 100 | 100 | ||
| Target Corp. | 5.000% | 4/15/2035 | 240 | 246 | ||
| Target Corp. | 4.000% | 7/1/2042 | 483 | 416 | ||
| Target Corp. | 2.950% | 1/15/2052 | 590 | 387 | ||
| Target Corp. | 4.800% | 1/15/2053 | 245 | 223 | ||
| Tyson Foods Inc. | 3.550% | 6/2/2027 | 330 | 328 | ||
| Tyson Foods Inc. | 4.350% | 3/1/2029 | 490 | 494 | ||
| Tyson Foods Inc. | 5.700% | 3/15/2034 | 165 | 176 | ||
| Tyson Foods Inc. | 4.550% | 6/2/2047 | 235 | 206 | ||
| Tyson Foods Inc. | 5.100% | 9/28/2048 | 290 | 273 | ||
| Unilever Capital Corp. | 2.900% | 5/5/2027 | 210 | 208 | ||
| Unilever Capital Corp. | 4.250% | 8/12/2027 | 320 | 323 | ||
| Unilever Capital Corp. | 3.500% | 3/22/2028 | 178 | 177 | ||
| Unilever Capital Corp. | 2.125% | 9/6/2029 | 270 | 256 | ||
| Unilever Capital Corp. | 1.750% | 8/12/2031 | 315 | 281 | ||
10
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Unilever Capital Corp. | 5.900% | 11/15/2032 | 280 | 309 | ||
| Unilever Capital Corp. | 5.000% | 12/8/2033 | 110 | 115 | ||
| Unilever Capital Corp. | 4.625% | 8/12/2034 | 310 | 315 | ||
| 37,744 | ||||||
| Financials (42.5%) | ||||||
| 2 | Aegon Ltd. | 5.500% | 4/11/2048 | 470 | 476 | |
| AerCap Ireland Capital DAC | 6.450% | 4/15/2027 | 355 | 364 | ||
| AerCap Ireland Capital DAC | 3.650% | 7/21/2027 | 595 | 593 | ||
| AerCap Ireland Capital DAC | 4.875% | 4/1/2028 | 150 | 153 | ||
| AerCap Ireland Capital DAC | 5.750% | 6/6/2028 | 398 | 412 | ||
| AerCap Ireland Capital DAC | 3.000% | 10/29/2028 | 975 | 948 | ||
| AerCap Ireland Capital DAC | 5.100% | 1/19/2029 | 170 | 174 | ||
| AerCap Ireland Capital DAC | 4.625% | 9/10/2029 | 590 | 598 | ||
| AerCap Ireland Capital DAC | 6.150% | 9/30/2030 | 210 | 225 | ||
| AerCap Ireland Capital DAC | 3.300% | 1/30/2032 | 1,267 | 1,184 | ||
| AerCap Ireland Capital DAC | 3.400% | 10/29/2033 | 550 | 502 | ||
| AerCap Ireland Capital DAC | 4.950% | 9/10/2034 | 80 | 80 | ||
| AerCap Ireland Capital DAC | 3.850% | 10/29/2041 | 415 | 345 | ||
| AerCap Ireland Capital DAC | 6.950% | 3/10/2055 | 150 | 158 | ||
| Aflac Inc. | 3.600% | 4/1/2030 | 115 | 113 | ||
| Air Lease Corp. | 3.125% | 12/1/2030 | 235 | 221 | ||
| 2 | Air Lease Corp. | 2.875% | 1/15/2032 | 235 | 213 | |
| Allstate Corp. | 5.250% | 3/30/2033 | 215 | 224 | ||
| Ally Financial Inc. | 4.750% | 6/9/2027 | 1,155 | 1,164 | ||
| Ally Financial Inc. | 7.100% | 11/15/2027 | 435 | 456 | ||
| Ally Financial Inc. | 2.200% | 11/2/2028 | 175 | 167 | ||
| Ally Financial Inc. | 5.737% | 5/15/2029 | 30 | 31 | ||
| Ally Financial Inc. | 6.992% | 6/13/2029 | 140 | 147 | ||
| Ally Financial Inc. | 6.848% | 1/3/2030 | 170 | 180 | ||
| 2 | Ally Financial Inc. | 8.000% | 11/1/2031 | 283 | 321 | |
| Ally Financial Inc. | 6.184% | 7/26/2035 | 275 | 284 | ||
| American Express Co. | 2.550% | 3/4/2027 | 425 | 420 | ||
| American Express Co. | 3.300% | 5/3/2027 | 432 | 430 | ||
| American Express Co. | 5.850% | 11/5/2027 | 600 | 619 | ||
| American Express Co. | 5.043% | 7/26/2028 | 545 | 553 | ||
| American Express Co. | 4.731% | 4/25/2029 | 300 | 305 | ||
| American Express Co. | 4.050% | 5/3/2029 | 695 | 701 | ||
| American Express Co. | 5.282% | 7/27/2029 | 471 | 485 | ||
| American Express Co. | 5.532% | 4/25/2030 | 485 | 507 | ||
| American Express Co. | 5.085% | 1/30/2031 | 312 | 322 | ||
| American Express Co. | 5.016% | 4/25/2031 | 345 | 356 | ||
| American Express Co. | 6.489% | 10/30/2031 | 180 | 197 | ||
| American Express Co. | 4.989% | 5/26/2033 | 185 | 189 | ||
| American Express Co. | 4.918% | 7/20/2033 | 470 | 481 | ||
| American Express Co. | 4.420% | 8/3/2033 | 305 | 305 | ||
| American Express Co. | 5.043% | 5/1/2034 | 355 | 364 | ||
| American Express Co. | 5.284% | 7/26/2035 | 470 | 487 | ||
| American Express Co. | 5.442% | 1/30/2036 | 370 | 385 | ||
| American Express Co. | 5.667% | 4/25/2036 | 400 | 423 | ||
| American Express Co. | 4.804% | 10/24/2036 | 685 | 679 | ||
| American Express Co. | 4.050% | 12/3/2042 | 279 | 243 | ||
| American International Group Inc. | 5.125% | 3/27/2033 | 85 | 88 | ||
| American International Group Inc. | 4.750% | 4/1/2048 | 290 | 260 | ||
| American International Group Inc. | 4.375% | 6/30/2050 | 235 | 196 | ||
| Ameriprise Financial Inc. | 5.150% | 5/15/2033 | 280 | 290 | ||
| Ameriprise Financial Inc. | 5.200% | 4/15/2035 | 320 | 326 | ||
| Aon Corp. | 3.750% | 5/2/2029 | 165 | 164 | ||
| Aon Corp. | 2.800% | 5/15/2030 | 265 | 251 | ||
| Aon Corp. | 5.350% | 2/28/2033 | 140 | 146 | ||
| Aon Corp. | 3.900% | 2/28/2052 | 265 | 197 | ||
| Aon North America Inc. | 5.150% | 3/1/2029 | 150 | 155 | ||
| Aon North America Inc. | 5.450% | 3/1/2034 | 405 | 423 | ||
| Aon North America Inc. | 5.750% | 3/1/2054 | 445 | 440 | ||
| Apollo Global Management Inc. | 5.800% | 5/21/2054 | 415 | 394 | ||
| Arch Capital Group Ltd. | 3.635% | 6/30/2050 | 200 | 148 | ||
| Ares Capital Corp. | 2.875% | 6/15/2028 | 215 | 205 | ||
| Ares Capital Corp. | 5.875% | 3/1/2029 | 215 | 219 | ||
| Ares Capital Corp. | 5.950% | 7/15/2029 | 185 | 189 | ||
| Ares Capital Corp. | 5.500% | 9/1/2030 | 460 | 455 | ||
11
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Ares Capital Corp. | 5.800% | 3/8/2032 | 225 | 224 | ||
| Ares Management Corp. | 5.600% | 10/11/2054 | 150 | 136 | ||
| Arthur J Gallagher & Co. | 4.600% | 12/15/2027 | 105 | 106 | ||
| Arthur J Gallagher & Co. | 4.850% | 12/15/2029 | 290 | 297 | ||
| Arthur J Gallagher & Co. | 5.150% | 2/15/2035 | 455 | 461 | ||
| Arthur J Gallagher & Co. | 3.500% | 5/20/2051 | 260 | 181 | ||
| Arthur J Gallagher & Co. | 5.550% | 2/15/2055 | 300 | 286 | ||
| Athene Holding Ltd. | 4.125% | 1/12/2028 | 180 | 179 | ||
| Athene Holding Ltd. | 6.250% | 4/1/2054 | 350 | 327 | ||
| Athene Holding Ltd. | 6.625% | 5/19/2055 | 250 | 245 | ||
| Australia & New Zealand Banking Group Ltd. | 4.615% | 12/16/2029 | 250 | 257 | ||
| AXA SA | 8.600% | 12/15/2030 | 210 | 247 | ||
| Banco Bilbao Vizcaya Argentaria SA | 6.138% | 9/14/2028 | 190 | 196 | ||
| Banco Bilbao Vizcaya Argentaria SA | 5.381% | 3/13/2029 | 400 | 416 | ||
| Banco Bilbao Vizcaya Argentaria SA | 7.883% | 11/15/2034 | 185 | 216 | ||
| Banco Bilbao Vizcaya Argentaria SA | 6.033% | 3/13/2035 | 350 | 374 | ||
| 1 | Banco Bilbao Vizcaya Argentaria SA | 5.127% | 3/3/2036 | 200 | 199 | |
| Banco Santander SA | 4.250% | 4/11/2027 | 107 | 107 | ||
| Banco Santander SA | 5.294% | 8/18/2027 | 600 | 611 | ||
| Banco Santander SA | 3.800% | 2/23/2028 | 395 | 393 | ||
| Banco Santander SA | 5.552% | 3/14/2028 | 20 | 20 | ||
| Banco Santander SA | 4.175% | 3/24/2028 | 530 | 530 | ||
| Banco Santander SA | 4.379% | 4/12/2028 | 496 | 499 | ||
| 2 | Banco Santander SA | 5.365% | 7/15/2028 | 778 | 792 | |
| Banco Santander SA | 5.588% | 8/8/2028 | 225 | 233 | ||
| Banco Santander SA | 6.607% | 11/7/2028 | 380 | 405 | ||
| Banco Santander SA | 3.306% | 6/27/2029 | 391 | 382 | ||
| Banco Santander SA | 5.565% | 1/17/2030 | 445 | 466 | ||
| Banco Santander SA | 5.538% | 3/14/2030 | 610 | 633 | ||
| Banco Santander SA | 3.490% | 5/28/2030 | 375 | 364 | ||
| Banco Santander SA | 2.749% | 12/3/2030 | 567 | 522 | ||
| Banco Santander SA | 2.958% | 3/25/2031 | 230 | 215 | ||
| Banco Santander SA | 5.439% | 7/15/2031 | 225 | 238 | ||
| Banco Santander SA | 3.225% | 11/22/2032 | 365 | 336 | ||
| Banco Santander SA | 6.921% | 8/8/2033 | 339 | 377 | ||
| Banco Santander SA | 6.938% | 11/7/2033 | 255 | 294 | ||
| Banco Santander SA | 6.350% | 3/14/2034 | 200 | 216 | ||
| Banco Santander SA | 6.033% | 1/17/2035 | 300 | 323 | ||
| Banco Santander SA | 5.127% | 11/6/2035 | 400 | 402 | ||
| 2 | Bank of America Corp. | 4.183% | 11/25/2027 | 795 | 796 | |
| 2 | Bank of America Corp. | 3.705% | 4/24/2028 | 585 | 583 | |
| Bank of America Corp. | 4.376% | 4/27/2028 | 466 | 468 | ||
| 2 | Bank of America Corp. | 3.593% | 7/21/2028 | 545 | 542 | |
| 2 | Bank of America Corp. | 4.948% | 7/22/2028 | 930 | 941 | |
| Bank of America Corp. | 6.204% | 11/10/2028 | 905 | 937 | ||
| 2 | Bank of America Corp. | 3.419% | 12/20/2028 | 1,218 | 1,206 | |
| Bank of America Corp. | 4.979% | 1/24/2029 | 980 | 997 | ||
| 2 | Bank of America Corp. | 3.970% | 3/5/2029 | 580 | 580 | |
| Bank of America Corp. | 5.202% | 4/25/2029 | 985 | 1,009 | ||
| 2 | Bank of America Corp. | 2.087% | 6/14/2029 | 663 | 635 | |
| 2 | Bank of America Corp. | 4.271% | 7/23/2029 | 737 | 741 | |
| Bank of America Corp. | 5.819% | 9/15/2029 | 1,180 | 1,230 | ||
| 2 | Bank of America Corp. | 3.974% | 2/7/2030 | 555 | 554 | |
| 2 | Bank of America Corp. | 3.194% | 7/23/2030 | 635 | 617 | |
| 2 | Bank of America Corp. | 2.884% | 10/22/2030 | 725 | 694 | |
| Bank of America Corp. | 5.162% | 1/24/2031 | 525 | 545 | ||
| 2 | Bank of America Corp. | 2.496% | 2/13/2031 | 2,310 | 2,169 | |
| 2 | Bank of America Corp. | 2.592% | 4/29/2031 | 575 | 540 | |
| 2 | Bank of America Corp. | 1.898% | 7/23/2031 | 425 | 385 | |
| 2 | Bank of America Corp. | 1.922% | 10/24/2031 | 770 | 694 | |
| Bank of America Corp. | 4.456% | 2/6/2032 | 600 | 604 | ||
| 2 | Bank of America Corp. | 2.651% | 3/11/2032 | 830 | 770 | |
| Bank of America Corp. | 2.687% | 4/22/2032 | 930 | 861 | ||
| Bank of America Corp. | 2.299% | 7/21/2032 | 670 | 604 | ||
| Bank of America Corp. | 2.572% | 10/20/2032 | 1,005 | 915 | ||
| 2 | Bank of America Corp. | 2.972% | 2/4/2033 | 1,105 | 1,021 | |
| Bank of America Corp. | 4.571% | 4/27/2033 | 1,136 | 1,142 | ||
| 2 | Bank of America Corp. | 5.015% | 7/22/2033 | 1,360 | 1,398 | |
| Bank of America Corp. | 5.288% | 4/25/2034 | 1,553 | 1,612 | ||
| Bank of America Corp. | 5.872% | 9/15/2034 | 625 | 671 | ||
12
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Bank of America Corp. | 5.468% | 1/23/2035 | 885 | 928 | ||
| 2 | Bank of America Corp. | 5.425% | 8/15/2035 | 545 | 558 | |
| Bank of America Corp. | 5.518% | 10/25/2035 | 960 | 986 | ||
| Bank of America Corp. | 5.511% | 1/24/2036 | 930 | 975 | ||
| Bank of America Corp. | 5.744% | 2/12/2036 | 610 | 637 | ||
| Bank of America Corp. | 5.464% | 5/9/2036 | 275 | 288 | ||
| Bank of America Corp. | 2.482% | 9/21/2036 | 630 | 557 | ||
| Bank of America Corp. | 6.110% | 1/29/2037 | 700 | 756 | ||
| Bank of America Corp. | 3.846% | 3/8/2037 | 790 | 747 | ||
| 2 | Bank of America Corp. | 4.244% | 4/24/2038 | 560 | 524 | |
| Bank of America Corp. | 7.750% | 5/14/2038 | 195 | 239 | ||
| 2 | Bank of America Corp. | 4.078% | 4/23/2040 | 350 | 315 | |
| 2 | Bank of America Corp. | 2.676% | 6/19/2041 | 750 | 557 | |
| 2 | Bank of America Corp. | 5.875% | 2/7/2042 | 460 | 495 | |
| Bank of America Corp. | 3.311% | 4/22/2042 | 775 | 616 | ||
| 2 | Bank of America Corp. | 5.000% | 1/21/2044 | 475 | 462 | |
| 2 | Bank of America Corp. | 4.443% | 1/20/2048 | 391 | 343 | |
| 2 | Bank of America Corp. | 3.946% | 1/23/2049 | 215 | 173 | |
| 2 | Bank of America Corp. | 4.330% | 3/15/2050 | 895 | 759 | |
| 2 | Bank of America Corp. | 4.083% | 3/20/2051 | 1,112 | 901 | |
| 2 | Bank of America Corp. | 2.831% | 10/24/2051 | 570 | 368 | |
| 2 | Bank of America Corp. | 3.483% | 3/13/2052 | 270 | 197 | |
| Bank of America Corp. | 2.972% | 7/21/2052 | 590 | 390 | ||
| 2 | Bank of America NA | 6.000% | 10/15/2036 | 325 | 353 | |
| 2 | Bank of Montreal | 2.650% | 3/8/2027 | 235 | 232 | |
| 2 | Bank of Montreal | 4.700% | 9/14/2027 | 408 | 413 | |
| Bank of Montreal | 5.203% | 2/1/2028 | 167 | 171 | ||
| Bank of Montreal | 5.717% | 9/25/2028 | 175 | 182 | ||
| Bank of Montreal | 4.640% | 9/10/2030 | 445 | 453 | ||
| Bank of Montreal | 5.511% | 6/4/2031 | 175 | 185 | ||
| 2 | Bank of Montreal | 3.803% | 12/15/2032 | 430 | 426 | |
| Bank of Montreal | 3.088% | 1/10/2037 | 400 | 365 | ||
| 2 | Bank of New York Mellon Corp. | 3.250% | 5/16/2027 | 180 | 179 | |
| 2 | Bank of New York Mellon Corp. | 3.400% | 1/29/2028 | 165 | 164 | |
| 2 | Bank of New York Mellon Corp. | 3.850% | 4/28/2028 | 290 | 291 | |
| Bank of New York Mellon Corp. | 4.441% | 6/9/2028 | 308 | 310 | ||
| Bank of New York Mellon Corp. | 4.890% | 7/21/2028 | 160 | 162 | ||
| 2 | Bank of New York Mellon Corp. | 5.802% | 10/25/2028 | 440 | 454 | |
| Bank of New York Mellon Corp. | 4.543% | 2/1/2029 | 285 | 288 | ||
| 2 | Bank of New York Mellon Corp. | 3.300% | 8/23/2029 | 420 | 410 | |
| 2 | Bank of New York Mellon Corp. | 6.317% | 10/25/2029 | 362 | 383 | |
| 2 | Bank of New York Mellon Corp. | 4.975% | 3/14/2030 | 215 | 221 | |
| Bank of New York Mellon Corp. | 4.942% | 2/11/2031 | 580 | 598 | ||
| Bank of New York Mellon Corp. | 5.060% | 7/22/2032 | 330 | 343 | ||
| 2 | Bank of New York Mellon Corp. | 4.289% | 6/13/2033 | 258 | 256 | |
| 2 | Bank of New York Mellon Corp. | 5.834% | 10/25/2033 | 255 | 276 | |
| Bank of New York Mellon Corp. | 4.706% | 2/1/2034 | 255 | 258 | ||
| 2 | Bank of New York Mellon Corp. | 4.967% | 4/26/2034 | 245 | 251 | |
| 2 | Bank of New York Mellon Corp. | 6.474% | 10/25/2034 | 205 | 230 | |
| 2 | Bank of New York Mellon Corp. | 5.188% | 3/14/2035 | 480 | 499 | |
| Bank of New York Mellon Corp. | 5.316% | 6/6/2036 | 140 | 146 | ||
| 2 | Bank of Nova Scotia | 5.400% | 6/4/2027 | 190 | 194 | |
| Bank of Nova Scotia | 5.250% | 6/12/2028 | 215 | 221 | ||
| Bank of Nova Scotia | 4.404% | 9/8/2028 | 100 | 101 | ||
| Bank of Nova Scotia | 4.932% | 2/14/2029 | 340 | 346 | ||
| Bank of Nova Scotia | 4.850% | 2/1/2030 | 200 | 206 | ||
| Bank of Nova Scotia | 4.247% | 2/2/2030 | 500 | 503 | ||
| Bank of Nova Scotia | 5.130% | 2/14/2031 | 200 | 207 | ||
| Bank of Nova Scotia | 2.450% | 2/2/2032 | 290 | 262 | ||
| Bank of Nova Scotia | 5.650% | 2/1/2034 | 245 | 262 | ||
| Bank of Nova Scotia | 4.813% | 2/2/2034 | 300 | 303 | ||
| Bank of Nova Scotia | 4.588% | 5/4/2037 | 265 | 260 | ||
| Barclays plc | 4.337% | 1/10/2028 | 490 | 491 | ||
| Barclays plc | 5.674% | 3/12/2028 | 130 | 132 | ||
| Barclays plc | 4.836% | 5/9/2028 | 525 | 529 | ||
| Barclays plc | 5.501% | 8/9/2028 | 985 | 1,004 | ||
| Barclays plc | 4.837% | 9/10/2028 | 66 | 67 | ||
| Barclays plc | 7.385% | 11/2/2028 | 230 | 242 | ||
| Barclays plc | 5.086% | 2/25/2029 | 200 | 204 | ||
| 2 | Barclays plc | 4.972% | 5/16/2029 | 395 | 402 | |
13
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Barclays plc | 6.490% | 9/13/2029 | 260 | 274 | ||
| Barclays plc | 5.690% | 3/12/2030 | 490 | 511 | ||
| 2 | Barclays plc | 5.088% | 6/20/2030 | 235 | 240 | |
| Barclays plc | 4.942% | 9/10/2030 | 329 | 336 | ||
| Barclays plc | 5.367% | 2/25/2031 | 335 | 348 | ||
| Barclays plc | 2.645% | 6/24/2031 | 175 | 163 | ||
| Barclays plc | 4.521% | 2/24/2032 | 306 | 306 | ||
| Barclays plc | 2.667% | 3/10/2032 | 375 | 345 | ||
| Barclays plc | 2.894% | 11/24/2032 | 285 | 261 | ||
| Barclays plc | 5.746% | 8/9/2033 | 410 | 434 | ||
| Barclays plc | 7.437% | 11/2/2033 | 560 | 643 | ||
| Barclays plc | 6.224% | 5/9/2034 | 575 | 621 | ||
| Barclays plc | 7.119% | 6/27/2034 | 495 | 556 | ||
| Barclays plc | 6.692% | 9/13/2034 | 610 | 677 | ||
| Barclays plc | 5.335% | 9/10/2035 | 478 | 489 | ||
| Barclays plc | 3.564% | 9/23/2035 | 190 | 181 | ||
| Barclays plc | 5.785% | 2/25/2036 | 475 | 497 | ||
| Barclays plc | 3.811% | 3/10/2042 | 155 | 126 | ||
| Barclays plc | 3.330% | 11/24/2042 | 205 | 160 | ||
| Barclays plc | 5.250% | 8/17/2045 | 370 | 361 | ||
| Barclays plc | 5.860% | 8/11/2046 | 200 | 206 | ||
| Barclays plc | 4.950% | 1/10/2047 | 500 | 466 | ||
| Barclays plc | 6.036% | 3/12/2055 | 340 | 364 | ||
| BlackRock Funding Inc. | 5.000% | 3/14/2034 | 210 | 218 | ||
| BlackRock Funding Inc. | 5.250% | 3/14/2054 | 265 | 255 | ||
| BlackRock Funding Inc. | 5.350% | 1/8/2055 | 340 | 330 | ||
| Blackrock Inc. | 3.250% | 4/30/2029 | 220 | 217 | ||
| Blackrock Inc. | 2.400% | 4/30/2030 | 283 | 267 | ||
| Blackrock Inc. | 1.900% | 1/28/2031 | 190 | 173 | ||
| Blackrock Inc. | 2.100% | 2/25/2032 | 191 | 170 | ||
| Blackrock Inc. | 4.750% | 5/25/2033 | 465 | 479 | ||
| Blackstone Reg Finance Co. LLC | 5.000% | 12/6/2034 | 433 | 434 | ||
| Blue Owl Capital Corp. | 2.875% | 6/11/2028 | 335 | 314 | ||
| Blue Owl Capital Corp. | 5.950% | 3/15/2029 | 490 | 488 | ||
| Brighthouse Financial Inc. | 3.700% | 6/22/2027 | 175 | 173 | ||
| Brighthouse Financial Inc. | 4.700% | 6/22/2047 | 228 | 159 | ||
| Brookfield Asset Management Ltd. | 6.077% | 9/15/2055 | 225 | 228 | ||
| Brown & Brown Inc. | 4.900% | 6/23/2030 | 240 | 244 | ||
| Brown & Brown Inc. | 5.550% | 6/23/2035 | 260 | 265 | ||
| Brown & Brown Inc. | 6.250% | 6/23/2055 | 250 | 254 | ||
| Canadian Imperial Bank of Commerce | 3.450% | 4/7/2027 | 130 | 130 | ||
| Canadian Imperial Bank of Commerce | 5.237% | 6/28/2027 | 125 | 127 | ||
| Canadian Imperial Bank of Commerce | 5.001% | 4/28/2028 | 225 | 230 | ||
| Canadian Imperial Bank of Commerce | 4.857% | 3/30/2029 | 135 | 137 | ||
| Canadian Imperial Bank of Commerce | 5.260% | 4/8/2029 | 375 | 389 | ||
| Canadian Imperial Bank of Commerce | 4.283% | 1/29/2030 | 500 | 503 | ||
| Canadian Imperial Bank of Commerce | 4.631% | 9/11/2030 | 220 | 224 | ||
| Canadian Imperial Bank of Commerce | 5.245% | 1/13/2031 | 200 | 208 | ||
| Canadian Imperial Bank of Commerce | 4.580% | 9/8/2031 | 250 | 254 | ||
| Canadian Imperial Bank of Commerce | 3.600% | 4/7/2032 | 355 | 342 | ||
| Canadian Imperial Bank of Commerce | 6.092% | 10/3/2033 | 460 | 504 | ||
| Capital One Financial Corp. | 3.750% | 3/9/2027 | 400 | 399 | ||
| Capital One Financial Corp. | 3.650% | 5/11/2027 | 420 | 419 | ||
| Capital One Financial Corp. | 3.800% | 1/31/2028 | 604 | 602 | ||
| Capital One Financial Corp. | 4.927% | 5/10/2028 | 425 | 429 | ||
| Capital One Financial Corp. | 5.468% | 2/1/2029 | 335 | 343 | ||
| Capital One Financial Corp. | 6.312% | 6/8/2029 | 255 | 267 | ||
| Capital One Financial Corp. | 5.700% | 2/1/2030 | 210 | 219 | ||
| Capital One Financial Corp. | 3.273% | 3/1/2030 | 228 | 222 | ||
| Capital One Financial Corp. | 5.247% | 7/26/2030 | 90 | 93 | ||
| Capital One Financial Corp. | 5.463% | 7/26/2030 | 242 | 251 | ||
| Capital One Financial Corp. | 4.493% | 9/11/2031 | 355 | 355 | ||
| 2 | Capital One Financial Corp. | 7.624% | 10/30/2031 | 855 | 966 | |
| Capital One Financial Corp. | 2.359% | 7/29/2032 | 255 | 225 | ||
| Capital One Financial Corp. | 6.700% | 11/29/2032 | 175 | 195 | ||
| Capital One Financial Corp. | 5.268% | 5/10/2033 | 255 | 261 | ||
| Capital One Financial Corp. | 5.817% | 2/1/2034 | 545 | 575 | ||
| Capital One Financial Corp. | 6.377% | 6/8/2034 | 420 | 455 | ||
| Capital One Financial Corp. | 7.964% | 11/2/2034 | 385 | 453 | ||
| Capital One Financial Corp. | 6.051% | 2/1/2035 | 160 | 170 | ||
14
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Capital One Financial Corp. | 5.884% | 7/26/2035 | 162 | 171 | ||
| Capital One Financial Corp. | 6.183% | 1/30/2036 | 365 | 380 | ||
| Capital One Financial Corp. | 5.197% | 9/11/2036 | 400 | 399 | ||
| 2 | Capital One NA | 4.650% | 9/13/2028 | 320 | 325 | |
| Charles Schwab Corp. | 2.450% | 3/3/2027 | 805 | 795 | ||
| Charles Schwab Corp. | 2.000% | 3/20/2028 | 185 | 179 | ||
| Charles Schwab Corp. | 5.643% | 5/19/2029 | 430 | 446 | ||
| Charles Schwab Corp. | 6.196% | 11/17/2029 | 265 | 281 | ||
| Charles Schwab Corp. | 1.650% | 3/11/2031 | 125 | 111 | ||
| Charles Schwab Corp. | 2.300% | 5/13/2031 | 315 | 288 | ||
| Charles Schwab Corp. | 4.343% | 11/14/2031 | 485 | 488 | ||
| Charles Schwab Corp. | 1.950% | 12/1/2031 | 370 | 328 | ||
| Charles Schwab Corp. | 2.900% | 3/3/2032 | 280 | 259 | ||
| Charles Schwab Corp. | 5.853% | 5/19/2034 | 380 | 408 | ||
| Charles Schwab Corp. | 6.136% | 8/24/2034 | 220 | 240 | ||
| Chubb INA Holdings LLC | 1.375% | 9/15/2030 | 440 | 392 | ||
| Chubb INA Holdings LLC | 5.000% | 3/15/2034 | 335 | 345 | ||
| Chubb INA Holdings LLC | 4.900% | 8/15/2035 | 380 | 386 | ||
| Chubb INA Holdings LLC | 6.000% | 5/11/2037 | 280 | 306 | ||
| Chubb INA Holdings LLC | 4.350% | 11/3/2045 | 310 | 272 | ||
| Chubb INA Holdings LLC | 3.050% | 12/15/2061 | 230 | 144 | ||
| Citibank NA | 5.803% | 9/29/2028 | 425 | 445 | ||
| Citibank NA | 4.838% | 8/6/2029 | 760 | 781 | ||
| 2 | Citibank NA | 4.914% | 5/29/2030 | 350 | 361 | |
| 2 | Citibank NA | 5.570% | 4/30/2034 | 325 | 345 | |
| Citigroup Inc. | 4.450% | 9/29/2027 | 1,360 | 1,368 | ||
| Citigroup Inc. | 4.643% | 5/7/2028 | 170 | 171 | ||
| Citigroup Inc. | 4.658% | 5/24/2028 | 285 | 287 | ||
| 2 | Citigroup Inc. | 3.668% | 7/24/2028 | 455 | 453 | |
| Citigroup Inc. | 4.125% | 7/25/2028 | 645 | 646 | ||
| 2 | Citigroup Inc. | 3.520% | 10/27/2028 | 385 | 382 | |
| Citigroup Inc. | 4.786% | 3/4/2029 | 225 | 228 | ||
| 2 | Citigroup Inc. | 4.075% | 4/23/2029 | 670 | 670 | |
| Citigroup Inc. | 5.174% | 2/13/2030 | 1,130 | 1,164 | ||
| 2 | Citigroup Inc. | 3.980% | 3/20/2030 | 820 | 817 | |
| Citigroup Inc. | 4.542% | 9/19/2030 | 560 | 566 | ||
| 2 | Citigroup Inc. | 2.976% | 11/5/2030 | 585 | 561 | |
| 2 | Citigroup Inc. | 2.666% | 1/29/2031 | 445 | 420 | |
| 2 | Citigroup Inc. | 4.412% | 3/31/2031 | 585 | 588 | |
| Citigroup Inc. | 4.952% | 5/7/2031 | 800 | 822 | ||
| 2 | Citigroup Inc. | 2.572% | 6/3/2031 | 730 | 682 | |
| Citigroup Inc. | 2.561% | 5/1/2032 | 665 | 609 | ||
| Citigroup Inc. | 6.625% | 6/15/2032 | 415 | 462 | ||
| Citigroup Inc. | 2.520% | 11/3/2032 | 510 | 461 | ||
| Citigroup Inc. | 3.057% | 1/25/2033 | 785 | 726 | ||
| Citigroup Inc. | 3.785% | 3/17/2033 | 635 | 610 | ||
| Citigroup Inc. | 4.910% | 5/24/2033 | 693 | 706 | ||
| Citigroup Inc. | 6.270% | 11/17/2033 | 490 | 538 | ||
| Citigroup Inc. | 6.174% | 5/25/2034 | 895 | 955 | ||
| Citigroup Inc. | 5.592% | 11/19/2034 | 435 | 448 | ||
| Citigroup Inc. | 5.827% | 2/13/2035 | 460 | 479 | ||
| Citigroup Inc. | 5.449% | 6/11/2035 | 840 | 875 | ||
| Citigroup Inc. | 6.020% | 1/24/2036 | 430 | 451 | ||
| 2 | Citigroup Inc. | 5.333% | 3/27/2036 | 580 | 598 | |
| Citigroup Inc. | 5.174% | 9/11/2036 | 785 | 798 | ||
| 2 | Citigroup Inc. | 3.878% | 1/24/2039 | 286 | 255 | |
| Citigroup Inc. | 8.125% | 7/15/2039 | 397 | 511 | ||
| Citigroup Inc. | 5.411% | 9/19/2039 | 640 | 644 | ||
| 2 | Citigroup Inc. | 5.316% | 3/26/2041 | 295 | 296 | |
| Citigroup Inc. | 5.875% | 1/30/2042 | 725 | 767 | ||
| Citigroup Inc. | 2.904% | 11/3/2042 | 280 | 208 | ||
| Citigroup Inc. | 6.675% | 9/13/2043 | 220 | 248 | ||
| Citigroup Inc. | 5.300% | 5/6/2044 | 145 | 141 | ||
| Citigroup Inc. | 4.650% | 7/30/2045 | 445 | 406 | ||
| Citigroup Inc. | 4.750% | 5/18/2046 | 435 | 387 | ||
| 2 | Citigroup Inc. | 4.281% | 4/24/2048 | 180 | 154 | |
| Citigroup Inc. | 4.650% | 7/23/2048 | 855 | 763 | ||
| Citigroup Inc. | 5.612% | 3/4/2056 | 731 | 734 | ||
| Citizens Bank NA | 4.575% | 8/9/2028 | 34 | 34 | ||
| Citizens Financial Group Inc. | 5.841% | 1/23/2030 | 185 | 193 | ||
15
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Citizens Financial Group Inc. | 3.250% | 4/30/2030 | 229 | 220 | ||
| Citizens Financial Group Inc. | 5.253% | 3/5/2031 | 90 | 93 | ||
| Citizens Financial Group Inc. | 5.718% | 7/23/2032 | 287 | 302 | ||
| Citizens Financial Group Inc. | 6.645% | 4/25/2035 | 265 | 293 | ||
| CME Group Inc. | 4.400% | 3/15/2030 | 150 | 153 | ||
| CME Group Inc. | 2.650% | 3/15/2032 | 495 | 458 | ||
| CME Group Inc. | 5.300% | 9/15/2043 | 278 | 284 | ||
| Cooperatieve Rabobank UA | 4.883% | 1/21/2028 | 220 | 225 | ||
| Cooperatieve Rabobank UA | 4.494% | 10/17/2029 | 250 | 256 | ||
| 2 | Cooperatieve Rabobank UA | 5.250% | 5/24/2041 | 380 | 385 | |
| Cooperatieve Rabobank UA | 5.750% | 12/1/2043 | 450 | 458 | ||
| Cooperatieve Rabobank UA | 5.250% | 8/4/2045 | 260 | 248 | ||
| Corebridge Financial Inc. | 3.650% | 4/5/2027 | 308 | 306 | ||
| Corebridge Financial Inc. | 3.850% | 4/5/2029 | 250 | 247 | ||
| Corebridge Financial Inc. | 3.900% | 4/5/2032 | 272 | 258 | ||
| Corebridge Financial Inc. | 5.750% | 1/15/2034 | 240 | 248 | ||
| Corebridge Financial Inc. | 4.400% | 4/5/2052 | 335 | 266 | ||
| Corebridge Financial Inc. | 6.875% | 12/15/2052 | 235 | 241 | ||
| Corebridge Financial Inc. | 6.375% | 9/15/2054 | 370 | 371 | ||
| 2 | Deutsche Bank AG | 5.373% | 1/10/2029 | 60 | 61 | |
| Deutsche Bank AG | 6.720% | 1/18/2029 | 510 | 533 | ||
| Deutsche Bank AG | 5.414% | 5/10/2029 | 250 | 261 | ||
| Deutsche Bank AG | 6.819% | 11/20/2029 | 285 | 304 | ||
| Deutsche Bank AG | 4.999% | 9/11/2030 | 365 | 373 | ||
| Deutsche Bank AG | 5.297% | 5/9/2031 | 520 | 537 | ||
| Deutsche Bank AG | 4.950% | 8/4/2031 | 431 | 439 | ||
| 2 | Deutsche Bank AG | 3.547% | 9/18/2031 | 395 | 379 | |
| Deutsche Bank AG | 3.729% | 1/14/2032 | 185 | 176 | ||
| Deutsche Bank AG | 3.035% | 5/28/2032 | 385 | 357 | ||
| Deutsche Bank AG | 4.875% | 12/1/2032 | 190 | 191 | ||
| Deutsche Bank AG | 3.742% | 1/7/2033 | 200 | 187 | ||
| Deutsche Bank AG | 7.079% | 2/10/2034 | 575 | 633 | ||
| Deutsche Bank AG | 5.403% | 9/11/2035 | 570 | 584 | ||
| Enact Holdings Inc. | 6.250% | 5/28/2029 | 125 | 131 | ||
| Equitable Holdings Inc. | 4.350% | 4/20/2028 | 111 | 111 | ||
| Equitable Holdings Inc. | 5.000% | 4/20/2048 | 284 | 253 | ||
| Everest Reinsurance Holdings Inc. | 3.500% | 10/15/2050 | 305 | 212 | ||
| Everest Reinsurance Holdings Inc. | 3.125% | 10/15/2052 | 265 | 168 | ||
| Fifth Third Bancorp | 2.550% | 5/5/2027 | 258 | 254 | ||
| Fifth Third Bancorp | 6.361% | 10/27/2028 | 215 | 223 | ||
| Fifth Third Bancorp | 6.339% | 7/27/2029 | 385 | 405 | ||
| Fifth Third Bancorp | 4.772% | 7/28/2030 | 262 | 266 | ||
| Fifth Third Bancorp | 4.895% | 9/6/2030 | 75 | 77 | ||
| Fifth Third Bancorp | 5.631% | 1/29/2032 | 210 | 221 | ||
| Fifth Third Bancorp | 4.566% | 4/29/2032 | 254 | 255 | ||
| Fifth Third Bancorp | 5.141% | 1/29/2037 | 275 | 276 | ||
| Fifth Third Bancorp | 8.250% | 3/1/2038 | 269 | 333 | ||
| Fifth Third Financial Corp. | 5.982% | 1/30/2030 | 320 | 335 | ||
| First Citizens BancShares Inc. | 6.254% | 3/12/2040 | 195 | 199 | ||
| Franklin Resources Inc. | 1.600% | 10/30/2030 | 130 | 117 | ||
| FS KKR Capital Corp. | 3.125% | 10/12/2028 | 70 | 64 | ||
| Global Payments Inc. | 3.200% | 8/15/2029 | 200 | 192 | ||
| Global Payments Inc. | 2.900% | 5/15/2030 | 160 | 149 | ||
| Global Payments Inc. | 4.875% | 11/15/2030 | 500 | 499 | ||
| Global Payments Inc. | 2.900% | 11/15/2031 | 300 | 270 | ||
| Global Payments Inc. | 5.400% | 8/15/2032 | 550 | 560 | ||
| Global Payments Inc. | 4.150% | 8/15/2049 | 245 | 182 | ||
| Global Payments Inc. | 5.950% | 8/15/2052 | 250 | 238 | ||
| Goldman Sachs Capital I | 6.345% | 2/15/2034 | 603 | 649 | ||
| Goldman Sachs Group Inc. | 3.615% | 3/15/2028 | 550 | 547 | ||
| 2 | Goldman Sachs Group Inc. | 3.691% | 6/5/2028 | 670 | 667 | |
| Goldman Sachs Group Inc. | 4.482% | 8/23/2028 | 640 | 644 | ||
| Goldman Sachs Group Inc. | 4.148% | 1/21/2029 | 1,445 | 1,445 | ||
| 2 | Goldman Sachs Group Inc. | 3.814% | 4/23/2029 | 709 | 705 | |
| 2 | Goldman Sachs Group Inc. | 4.223% | 5/1/2029 | 683 | 685 | |
| Goldman Sachs Group Inc. | 6.484% | 10/24/2029 | 585 | 619 | ||
| Goldman Sachs Group Inc. | 2.600% | 2/7/2030 | 765 | 723 | ||
| Goldman Sachs Group Inc. | 3.800% | 3/15/2030 | 485 | 480 | ||
| Goldman Sachs Group Inc. | 5.049% | 7/23/2030 | 1,145 | 1,174 | ||
| Goldman Sachs Group Inc. | 4.692% | 10/23/2030 | 735 | 746 | ||
16
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 2 | Goldman Sachs Group Inc. | 5.207% | 1/28/2031 | 560 | 580 | |
| Goldman Sachs Group Inc. | 5.218% | 4/23/2031 | 810 | 839 | ||
| 2 | Goldman Sachs Group Inc. | 4.369% | 10/21/2031 | 455 | 455 | |
| Goldman Sachs Group Inc. | 4.516% | 1/21/2032 | 1,500 | 1,509 | ||
| Goldman Sachs Group Inc. | 1.992% | 1/27/2032 | 1,255 | 1,123 | ||
| Goldman Sachs Group Inc. | 2.615% | 4/22/2032 | 665 | 611 | ||
| Goldman Sachs Group Inc. | 2.383% | 7/21/2032 | 1,008 | 909 | ||
| Goldman Sachs Group Inc. | 2.650% | 10/21/2032 | 505 | 460 | ||
| Goldman Sachs Group Inc. | 6.125% | 2/15/2033 | 1,150 | 1,260 | ||
| Goldman Sachs Group Inc. | 3.102% | 2/24/2033 | 745 | 691 | ||
| Goldman Sachs Group Inc. | 6.561% | 10/24/2034 | 120 | 134 | ||
| Goldman Sachs Group Inc. | 5.851% | 4/25/2035 | 630 | 672 | ||
| Goldman Sachs Group Inc. | 5.330% | 7/23/2035 | 1,116 | 1,149 | ||
| Goldman Sachs Group Inc. | 5.016% | 10/23/2035 | 999 | 1,010 | ||
| Goldman Sachs Group Inc. | 5.536% | 1/28/2036 | 1,170 | 1,224 | ||
| Goldman Sachs Group Inc. | 4.939% | 10/21/2036 | 610 | 607 | ||
| Goldman Sachs Group Inc. | 5.065% | 1/21/2037 | 1,400 | 1,409 | ||
| Goldman Sachs Group Inc. | 6.750% | 10/1/2037 | 1,200 | 1,345 | ||
| 2 | Goldman Sachs Group Inc. | 4.017% | 10/31/2038 | 435 | 393 | |
| 2 | Goldman Sachs Group Inc. | 4.411% | 4/23/2039 | 330 | 307 | |
| Goldman Sachs Group Inc. | 6.250% | 2/1/2041 | 780 | 853 | ||
| Goldman Sachs Group Inc. | 5.387% | 2/2/2041 | 570 | 566 | ||
| Goldman Sachs Group Inc. | 3.210% | 4/22/2042 | 465 | 358 | ||
| Goldman Sachs Group Inc. | 2.908% | 7/21/2042 | 300 | 222 | ||
| Goldman Sachs Group Inc. | 3.436% | 2/24/2043 | 590 | 463 | ||
| Goldman Sachs Group Inc. | 5.150% | 5/22/2045 | 570 | 536 | ||
| Goldman Sachs Group Inc. | 4.750% | 10/21/2045 | 335 | 304 | ||
| Goldman Sachs Group Inc. | 5.561% | 11/19/2045 | 860 | 861 | ||
| Goldman Sachs Group Inc. | 5.541% | 1/21/2047 | 775 | 771 | ||
| Goldman Sachs Group Inc. | 5.734% | 1/28/2056 | 690 | 700 | ||
| Golub Capital BDC Inc. | 6.000% | 7/15/2029 | 135 | 135 | ||
| HA Sustainable Infrastructure Capital Inc. | 6.375% | 7/1/2034 | 365 | 377 | ||
| Hartford Insurance Group Inc. | 3.600% | 8/19/2049 | 250 | 186 | ||
| 2 | HSBC Holdings plc | 4.041% | 3/13/2028 | 720 | 720 | |
| HSBC Holdings plc | 5.597% | 5/17/2028 | 520 | 529 | ||
| HSBC Holdings plc | 4.755% | 6/9/2028 | 545 | 550 | ||
| HSBC Holdings plc | 5.210% | 8/11/2028 | 625 | 635 | ||
| 2 | HSBC Holdings plc | 2.013% | 9/22/2028 | 245 | 238 | |
| HSBC Holdings plc | 7.390% | 11/3/2028 | 865 | 911 | ||
| HSBC Holdings plc | 5.130% | 11/19/2028 | 200 | 204 | ||
| HSBC Holdings plc | 4.899% | 3/3/2029 | 250 | 254 | ||
| HSBC Holdings plc | 6.161% | 3/9/2029 | 645 | 671 | ||
| 2 | HSBC Holdings plc | 4.583% | 6/19/2029 | 560 | 565 | |
| HSBC Holdings plc | 2.206% | 8/17/2029 | 1,090 | 1,041 | ||
| HSBC Holdings plc | 5.546% | 3/4/2030 | 330 | 343 | ||
| HSBC Holdings plc | 4.950% | 3/31/2030 | 770 | 794 | ||
| 2 | HSBC Holdings plc | 3.973% | 5/22/2030 | 835 | 829 | |
| HSBC Holdings plc | 5.286% | 11/19/2030 | 365 | 378 | ||
| HSBC Holdings plc | 5.130% | 3/3/2031 | 340 | 351 | ||
| HSBC Holdings plc | 5.240% | 5/13/2031 | 560 | 580 | ||
| 2 | HSBC Holdings plc | 2.848% | 6/4/2031 | 595 | 561 | |
| 2 | HSBC Holdings plc | 2.357% | 8/18/2031 | 555 | 511 | |
| HSBC Holdings plc | 4.619% | 11/6/2031 | 560 | 566 | ||
| HSBC Holdings plc | 5.733% | 5/17/2032 | 315 | 334 | ||
| HSBC Holdings plc | 2.804% | 5/24/2032 | 680 | 627 | ||
| HSBC Holdings plc | 2.871% | 11/22/2032 | 270 | 248 | ||
| HSBC Holdings plc | 4.762% | 3/29/2033 | 615 | 616 | ||
| HSBC Holdings plc | 5.402% | 8/11/2033 | 781 | 816 | ||
| HSBC Holdings plc | 8.113% | 11/3/2033 | 460 | 543 | ||
| HSBC Holdings plc | 6.254% | 3/9/2034 | 485 | 530 | ||
| HSBC Holdings plc | 6.547% | 6/20/2034 | 700 | 760 | ||
| HSBC Holdings plc | 7.399% | 11/13/2034 | 335 | 383 | ||
| HSBC Holdings plc | 5.719% | 3/4/2035 | 280 | 297 | ||
| HSBC Holdings plc | 5.874% | 11/18/2035 | 365 | 383 | ||
| HSBC Holdings plc | 5.450% | 3/3/2036 | 565 | 586 | ||
| HSBC Holdings plc | 5.790% | 5/13/2036 | 615 | 654 | ||
| HSBC Holdings plc | 5.741% | 9/10/2036 | 755 | 782 | ||
| HSBC Holdings plc | 6.500% | 9/15/2037 | 310 | 345 | ||
| 2 | HSBC Holdings plc | 6.500% | 9/15/2037 | 324 | 354 | |
| HSBC Holdings plc | 6.100% | 1/14/2042 | 225 | 246 | ||
17
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| HSBC Holdings plc | 6.332% | 3/9/2044 | 910 | 1,007 | ||
| HSBC Holdings plc | 5.250% | 3/14/2044 | 527 | 518 | ||
| HSBC USA Inc. | 5.294% | 3/4/2027 | 295 | 299 | ||
| HSBC USA Inc. | 4.650% | 6/3/2028 | 825 | 839 | ||
| Huntington Bancshares Inc. | 4.443% | 8/4/2028 | 155 | 156 | ||
| Huntington Bancshares Inc. | 6.208% | 8/21/2029 | 454 | 477 | ||
| Huntington Bancshares Inc. | 2.550% | 2/4/2030 | 390 | 367 | ||
| Huntington Bancshares Inc. | 5.272% | 1/15/2031 | 220 | 228 | ||
| Huntington Bancshares Inc. | 4.623% | 1/28/2032 | 254 | 256 | ||
| Huntington Bancshares Inc. | 5.709% | 2/2/2035 | 185 | 195 | ||
| Huntington Bancshares Inc. | 5.605% | 1/28/2041 | 191 | 192 | ||
| Huntington National Bank | 4.871% | 4/12/2028 | 250 | 252 | ||
| Huntington National Bank | 4.552% | 5/17/2028 | 175 | 176 | ||
| Huntington National Bank | 5.650% | 1/10/2030 | 210 | 221 | ||
| ING Groep NV | 3.950% | 3/29/2027 | 275 | 275 | ||
| ING Groep NV | 4.017% | 3/28/2028 | 535 | 535 | ||
| ING Groep NV | 4.550% | 10/2/2028 | 350 | 355 | ||
| ING Groep NV | 4.858% | 3/25/2029 | 315 | 320 | ||
| ING Groep NV | 4.050% | 4/9/2029 | 101 | 101 | ||
| ING Groep NV | 5.335% | 3/19/2030 | 100 | 104 | ||
| ING Groep NV | 2.727% | 4/1/2032 | 195 | 181 | ||
| ING Groep NV | 4.252% | 3/28/2033 | 205 | 203 | ||
| ING Groep NV | 6.114% | 9/11/2034 | 300 | 327 | ||
| ING Groep NV | 5.550% | 3/19/2035 | 475 | 498 | ||
| ING Groep NV | 5.525% | 3/25/2036 | 200 | 209 | ||
| Intercontinental Exchange Inc. | 4.000% | 9/15/2027 | 340 | 341 | ||
| Intercontinental Exchange Inc. | 3.625% | 9/1/2028 | 315 | 313 | ||
| Intercontinental Exchange Inc. | 4.350% | 6/15/2029 | 205 | 208 | ||
| Intercontinental Exchange Inc. | 2.100% | 6/15/2030 | 395 | 365 | ||
| Intercontinental Exchange Inc. | 5.250% | 6/15/2031 | 40 | 42 | ||
| Intercontinental Exchange Inc. | 1.850% | 9/15/2032 | 405 | 349 | ||
| Intercontinental Exchange Inc. | 4.600% | 3/15/2033 | 400 | 406 | ||
| Intercontinental Exchange Inc. | 2.650% | 9/15/2040 | 270 | 202 | ||
| Intercontinental Exchange Inc. | 4.250% | 9/21/2048 | 400 | 334 | ||
| Intercontinental Exchange Inc. | 3.000% | 6/15/2050 | 547 | 361 | ||
| Intercontinental Exchange Inc. | 4.950% | 6/15/2052 | 445 | 406 | ||
| Intercontinental Exchange Inc. | 3.000% | 9/15/2060 | 325 | 195 | ||
| Intercontinental Exchange Inc. | 5.200% | 6/15/2062 | 275 | 255 | ||
| JPMorgan Chase & Co. | 4.250% | 10/1/2027 | 700 | 705 | ||
| JPMorgan Chase & Co. | 3.625% | 12/1/2027 | 360 | 358 | ||
| JPMorgan Chase & Co. | 5.571% | 4/22/2028 | 795 | 809 | ||
| JPMorgan Chase & Co. | 4.323% | 4/26/2028 | 535 | 537 | ||
| 2 | JPMorgan Chase & Co. | 3.540% | 5/1/2028 | 625 | 621 | |
| JPMorgan Chase & Co. | 4.979% | 7/22/2028 | 750 | 759 | ||
| JPMorgan Chase & Co. | 4.851% | 7/25/2028 | 925 | 936 | ||
| JPMorgan Chase & Co. | 4.505% | 10/22/2028 | 1,015 | 1,024 | ||
| 2 | JPMorgan Chase & Co. | 3.509% | 1/23/2029 | 655 | 649 | |
| JPMorgan Chase & Co. | 4.915% | 1/24/2029 | 725 | 738 | ||
| 2 | JPMorgan Chase & Co. | 4.005% | 4/23/2029 | 625 | 625 | |
| JPMorgan Chase & Co. | 2.069% | 6/1/2029 | 325 | 312 | ||
| 2 | JPMorgan Chase & Co. | 4.203% | 7/23/2029 | 960 | 964 | |
| JPMorgan Chase & Co. | 5.299% | 7/24/2029 | 580 | 597 | ||
| JPMorgan Chase & Co. | 6.087% | 10/23/2029 | 985 | 1,035 | ||
| 2 | JPMorgan Chase & Co. | 4.452% | 12/5/2029 | 435 | 440 | |
| JPMorgan Chase & Co. | 5.012% | 1/23/2030 | 705 | 724 | ||
| JPMorgan Chase & Co. | 5.581% | 4/22/2030 | 575 | 601 | ||
| 2 | JPMorgan Chase & Co. | 3.702% | 5/6/2030 | 440 | 435 | |
| JPMorgan Chase & Co. | 4.565% | 6/14/2030 | 502 | 510 | ||
| JPMorgan Chase & Co. | 4.995% | 7/22/2030 | 831 | 856 | ||
| 2 | JPMorgan Chase & Co. | 2.739% | 10/15/2030 | 850 | 813 | |
| JPMorgan Chase & Co. | 4.603% | 10/22/2030 | 450 | 458 | ||
| JPMorgan Chase & Co. | 5.140% | 1/24/2031 | 970 | 1,006 | ||
| 2 | JPMorgan Chase & Co. | 4.493% | 3/24/2031 | 710 | 720 | |
| 2 | JPMorgan Chase & Co. | 2.522% | 4/22/2031 | 465 | 436 | |
| JPMorgan Chase & Co. | 5.103% | 4/22/2031 | 555 | 575 | ||
| 2 | JPMorgan Chase & Co. | 2.956% | 5/13/2031 | 710 | 675 | |
| JPMorgan Chase & Co. | 4.255% | 10/22/2031 | 175 | 175 | ||
| JPMorgan Chase & Co. | 1.764% | 11/19/2031 | 1,135 | 1,017 | ||
| JPMorgan Chase & Co. | 4.347% | 1/22/2032 | 1,500 | 1,507 | ||
| JPMorgan Chase & Co. | 1.953% | 2/4/2032 | 905 | 812 | ||
18
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| JPMorgan Chase & Co. | 2.580% | 4/22/2032 | 1,115 | 1,028 | ||
| JPMorgan Chase & Co. | 2.545% | 11/8/2032 | 1,198 | 1,091 | ||
| JPMorgan Chase & Co. | 2.963% | 1/25/2033 | 760 | 704 | ||
| JPMorgan Chase & Co. | 4.586% | 4/26/2033 | 565 | 570 | ||
| JPMorgan Chase & Co. | 4.912% | 7/25/2033 | 1,070 | 1,097 | ||
| JPMorgan Chase & Co. | 5.717% | 9/14/2033 | 785 | 832 | ||
| JPMorgan Chase & Co. | 5.350% | 6/1/2034 | 1,000 | 1,047 | ||
| JPMorgan Chase & Co. | 6.254% | 10/23/2034 | 570 | 627 | ||
| JPMorgan Chase & Co. | 5.336% | 1/23/2035 | 800 | 833 | ||
| JPMorgan Chase & Co. | 5.766% | 4/22/2035 | 715 | 765 | ||
| JPMorgan Chase & Co. | 5.294% | 7/22/2035 | 712 | 739 | ||
| JPMorgan Chase & Co. | 4.946% | 10/22/2035 | 725 | 735 | ||
| JPMorgan Chase & Co. | 5.502% | 1/24/2036 | 1,280 | 1,346 | ||
| JPMorgan Chase & Co. | 5.572% | 4/22/2036 | 610 | 644 | ||
| JPMorgan Chase & Co. | 5.576% | 7/23/2036 | 780 | 811 | ||
| JPMorgan Chase & Co. | 4.810% | 10/22/2036 | 1,010 | 1,007 | ||
| JPMorgan Chase & Co. | 4.898% | 1/22/2037 | 750 | 754 | ||
| JPMorgan Chase & Co. | 5.193% | 2/5/2037 | 400 | 404 | ||
| JPMorgan Chase & Co. | 6.400% | 5/15/2038 | 792 | 901 | ||
| 2 | JPMorgan Chase & Co. | 3.882% | 7/24/2038 | 500 | 453 | |
| JPMorgan Chase & Co. | 5.500% | 10/15/2040 | 595 | 627 | ||
| JPMorgan Chase & Co. | 5.600% | 7/15/2041 | 330 | 345 | ||
| JPMorgan Chase & Co. | 2.525% | 11/19/2041 | 525 | 383 | ||
| JPMorgan Chase & Co. | 5.400% | 1/6/2042 | 740 | 758 | ||
| JPMorgan Chase & Co. | 3.157% | 4/22/2042 | 370 | 289 | ||
| JPMorgan Chase & Co. | 5.625% | 8/16/2043 | 410 | 423 | ||
| JPMorgan Chase & Co. | 4.850% | 2/1/2044 | 451 | 432 | ||
| JPMorgan Chase & Co. | 4.950% | 6/1/2045 | 485 | 460 | ||
| JPMorgan Chase & Co. | 5.534% | 11/29/2045 | 585 | 597 | ||
| 2 | JPMorgan Chase & Co. | 4.260% | 2/22/2048 | 410 | 352 | |
| 2 | JPMorgan Chase & Co. | 4.032% | 7/24/2048 | 375 | 310 | |
| 2 | JPMorgan Chase & Co. | 3.964% | 11/15/2048 | 710 | 579 | |
| 2 | JPMorgan Chase & Co. | 3.897% | 1/23/2049 | 680 | 546 | |
| 2 | JPMorgan Chase & Co. | 3.109% | 4/22/2051 | 528 | 362 | |
| JPMorgan Chase & Co. | 3.328% | 4/22/2052 | 625 | 447 | ||
| 2 | Keybank National Association | 5.850% | 11/15/2027 | 780 | 803 | |
| 2 | Keybank National Association | 4.900% | 8/8/2032 | 100 | 100 | |
| Keybank National Association | 5.000% | 1/26/2033 | 180 | 182 | ||
| 2 | KeyCorp | 2.550% | 10/1/2029 | 155 | 147 | |
| 2 | KeyCorp | 5.121% | 4/4/2031 | 120 | 123 | |
| 2 | KeyCorp | 4.789% | 6/1/2033 | 230 | 231 | |
| KeyCorp | 6.401% | 3/6/2035 | 230 | 250 | ||
| KeyCorp | 5.305% | 1/28/2037 | 191 | 193 | ||
| Lloyds Banking Group plc | 3.750% | 3/18/2028 | 201 | 201 | ||
| Lloyds Banking Group plc | 4.375% | 3/22/2028 | 365 | 368 | ||
| Lloyds Banking Group plc | 4.550% | 8/16/2028 | 295 | 299 | ||
| 2 | Lloyds Banking Group plc | 3.574% | 11/7/2028 | 495 | 492 | |
| Lloyds Banking Group plc | 5.087% | 11/26/2028 | 450 | 458 | ||
| Lloyds Banking Group plc | 5.871% | 3/6/2029 | 180 | 186 | ||
| Lloyds Banking Group plc | 4.818% | 6/13/2029 | 200 | 203 | ||
| Lloyds Banking Group plc | 5.721% | 6/5/2030 | 230 | 241 | ||
| Lloyds Banking Group plc | 4.425% | 11/4/2031 | 445 | 447 | ||
| Lloyds Banking Group plc | 4.976% | 8/11/2033 | 345 | 353 | ||
| Lloyds Banking Group plc | 7.953% | 11/15/2033 | 230 | 270 | ||
| Lloyds Banking Group plc | 5.679% | 1/5/2035 | 565 | 598 | ||
| Lloyds Banking Group plc | 5.590% | 11/26/2035 | 200 | 210 | ||
| Lloyds Banking Group plc | 6.068% | 6/13/2036 | 510 | 537 | ||
| Lloyds Banking Group plc | 4.943% | 11/4/2036 | 330 | 328 | ||
| Lloyds Banking Group plc | 5.300% | 12/1/2045 | 330 | 318 | ||
| Lloyds Banking Group plc | 3.369% | 12/14/2046 | 325 | 246 | ||
| Lloyds Banking Group plc | 4.344% | 1/9/2048 | 350 | 297 | ||
| LPL Holdings Inc. | 6.750% | 11/17/2028 | 290 | 308 | ||
| LPL Holdings Inc. | 5.200% | 3/15/2030 | 150 | 153 | ||
| M&T Bank Corp. | 7.413% | 10/30/2029 | 325 | 352 | ||
| M&T Bank Corp. | 5.179% | 7/8/2031 | 300 | 310 | ||
| M&T Bank Corp. | 6.082% | 3/13/2032 | 290 | 310 | ||
| M&T Bank Corp. | 5.053% | 1/27/2034 | 255 | 259 | ||
| 2 | M&T Bank Corp. | 5.385% | 1/16/2036 | 255 | 261 | |
| Manufacturers & Traders Trust Co. | 4.700% | 1/27/2028 | 360 | 365 | ||
| Manufacturers & Traders Trust Co. | 4.762% | 7/6/2028 | 250 | 252 | ||
19
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Marsh & McLennan Cos. Inc. | 4.550% | 11/8/2027 | 340 | 343 | ||
| Marsh & McLennan Cos. Inc. | 4.375% | 3/15/2029 | 463 | 468 | ||
| Marsh & McLennan Cos. Inc. | 4.650% | 3/15/2030 | 145 | 148 | ||
| Marsh & McLennan Cos. Inc. | 2.250% | 11/15/2030 | 185 | 170 | ||
| Marsh & McLennan Cos. Inc. | 4.850% | 11/15/2031 | 300 | 309 | ||
| Marsh & McLennan Cos. Inc. | 5.000% | 3/15/2035 | 540 | 549 | ||
| Marsh & McLennan Cos. Inc. | 4.900% | 3/15/2049 | 330 | 299 | ||
| Marsh & McLennan Cos. Inc. | 5.700% | 9/15/2053 | 230 | 229 | ||
| Marsh & McLennan Cos. Inc. | 5.400% | 3/15/2055 | 400 | 384 | ||
| Mastercard Inc. | 3.300% | 3/26/2027 | 180 | 179 | ||
| Mastercard Inc. | 4.100% | 1/15/2028 | 100 | 101 | ||
| Mastercard Inc. | 4.875% | 3/9/2028 | 400 | 409 | ||
| Mastercard Inc. | 2.950% | 6/1/2029 | 191 | 186 | ||
| Mastercard Inc. | 3.350% | 3/26/2030 | 275 | 270 | ||
| Mastercard Inc. | 2.000% | 11/18/2031 | 260 | 234 | ||
| Mastercard Inc. | 4.350% | 1/15/2032 | 322 | 326 | ||
| Mastercard Inc. | 4.850% | 3/9/2033 | 40 | 41 | ||
| Mastercard Inc. | 4.875% | 5/9/2034 | 275 | 283 | ||
| Mastercard Inc. | 4.550% | 1/15/2035 | 196 | 197 | ||
| Mastercard Inc. | 3.650% | 6/1/2049 | 245 | 189 | ||
| Mastercard Inc. | 3.850% | 3/26/2050 | 430 | 340 | ||
| MetLife Inc. | 4.550% | 3/23/2030 | 290 | 296 | ||
| MetLife Inc. | 5.375% | 7/15/2033 | 125 | 132 | ||
| MetLife Inc. | 6.375% | 6/15/2034 | 35 | 39 | ||
| MetLife Inc. | 5.300% | 12/15/2034 | 140 | 146 | ||
| MetLife Inc. | 5.700% | 6/15/2035 | 425 | 453 | ||
| 2 | MetLife Inc. | 6.400% | 12/15/2036 | 295 | 309 | |
| MetLife Inc. | 5.875% | 2/6/2041 | 290 | 305 | ||
| MetLife Inc. | 4.125% | 8/13/2042 | 180 | 153 | ||
| MetLife Inc. | 4.875% | 11/13/2043 | 260 | 241 | ||
| MetLife Inc. | 4.050% | 3/1/2045 | 430 | 355 | ||
| MetLife Inc. | 4.600% | 5/13/2046 | 120 | 106 | ||
| MetLife Inc. | 5.000% | 7/15/2052 | 280 | 253 | ||
| MetLife Inc. | 5.250% | 1/15/2054 | 185 | 174 | ||
| 2 | MetLife Inc. | 6.350% | 3/15/2055 | 210 | 219 | |
| Mitsubishi UFJ Financial Group Inc. | 3.287% | 7/25/2027 | 280 | 278 | ||
| Mitsubishi UFJ Financial Group Inc. | 3.961% | 3/2/2028 | 320 | 321 | ||
| Mitsubishi UFJ Financial Group Inc. | 4.080% | 4/19/2028 | 115 | 115 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.017% | 7/20/2028 | 255 | 259 | ||
| Mitsubishi UFJ Financial Group Inc. | 4.050% | 9/11/2028 | 200 | 201 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.354% | 9/13/2028 | 285 | 291 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.422% | 2/22/2029 | 190 | 195 | ||
| Mitsubishi UFJ Financial Group Inc. | 3.741% | 3/7/2029 | 355 | 354 | ||
| Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/2029 | 775 | 754 | ||
| Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/2030 | 300 | 283 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.258% | 4/17/2030 | 200 | 207 | ||
| Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/2030 | 370 | 340 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.197% | 1/16/2031 | 585 | 607 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.159% | 4/24/2031 | 245 | 254 | ||
| Mitsubishi UFJ Financial Group Inc. | 4.505% | 1/14/2032 | 585 | 591 | ||
| Mitsubishi UFJ Financial Group Inc. | 2.309% | 7/20/2032 | 415 | 376 | ||
| Mitsubishi UFJ Financial Group Inc. | 2.494% | 10/13/2032 | 191 | 174 | ||
| Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/2033 | 180 | 166 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.133% | 7/20/2033 | 555 | 576 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.472% | 9/13/2033 | 120 | 127 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.441% | 2/22/2034 | 285 | 300 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.406% | 4/19/2034 | 245 | 258 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.426% | 4/17/2035 | 495 | 520 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.574% | 1/16/2036 | 300 | 317 | ||
| Mitsubishi UFJ Financial Group Inc. | 5.057% | 1/14/2037 | 500 | 506 | ||
| Mitsubishi UFJ Financial Group Inc. | 3.751% | 7/18/2039 | 430 | 382 | ||
| Mizuho Financial Group Inc. | 3.170% | 9/11/2027 | 135 | 134 | ||
| Mizuho Financial Group Inc. | 4.018% | 3/5/2028 | 265 | 266 | ||
| Mizuho Financial Group Inc. | 5.414% | 9/13/2028 | 125 | 128 | ||
| Mizuho Financial Group Inc. | 5.667% | 5/27/2029 | 40 | 41 | ||
| Mizuho Financial Group Inc. | 5.778% | 7/6/2029 | 270 | 281 | ||
| 2 | Mizuho Financial Group Inc. | 4.254% | 9/11/2029 | 390 | 392 | |
| Mizuho Financial Group Inc. | 5.376% | 5/26/2030 | 280 | 291 | ||
| 2 | Mizuho Financial Group Inc. | 3.153% | 7/16/2030 | 130 | 126 | |
| 2 | Mizuho Financial Group Inc. | 2.201% | 7/10/2031 | 445 | 409 | |
20
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 2 | Mizuho Financial Group Inc. | 1.979% | 9/8/2031 | 260 | 236 | |
| Mizuho Financial Group Inc. | 2.564% | 9/13/2031 | 231 | 210 | ||
| Mizuho Financial Group Inc. | 5.669% | 9/13/2033 | 335 | 358 | ||
| Mizuho Financial Group Inc. | 5.754% | 5/27/2034 | 300 | 320 | ||
| Mizuho Financial Group Inc. | 5.748% | 7/6/2034 | 300 | 320 | ||
| Mizuho Financial Group Inc. | 5.579% | 5/26/2035 | 150 | 159 | ||
| Mizuho Financial Group Inc. | 5.323% | 7/8/2036 | 660 | 684 | ||
| Morgan Stanley | 3.950% | 4/23/2027 | 570 | 570 | ||
| 2 | Morgan Stanley | 5.652% | 4/13/2028 | 260 | 265 | |
| 2 | Morgan Stanley | 3.591% | 7/22/2028 | 880 | 875 | |
| Morgan Stanley | 6.296% | 10/18/2028 | 685 | 710 | ||
| 2 | Morgan Stanley | 3.772% | 1/24/2029 | 585 | 583 | |
| Morgan Stanley | 5.123% | 2/1/2029 | 410 | 418 | ||
| 2 | Morgan Stanley | 4.994% | 4/12/2029 | 325 | 331 | |
| 2 | Morgan Stanley | 5.164% | 4/20/2029 | 480 | 491 | |
| Morgan Stanley | 5.449% | 7/20/2029 | 385 | 397 | ||
| Morgan Stanley | 6.407% | 11/1/2029 | 400 | 423 | ||
| Morgan Stanley | 5.173% | 1/16/2030 | 710 | 730 | ||
| 2 | Morgan Stanley | 4.431% | 1/23/2030 | 725 | 731 | |
| Morgan Stanley | 5.656% | 4/18/2030 | 860 | 898 | ||
| Morgan Stanley | 5.042% | 7/19/2030 | 700 | 719 | ||
| Morgan Stanley | 4.654% | 10/18/2030 | 1,310 | 1,331 | ||
| Morgan Stanley | 5.230% | 1/15/2031 | 660 | 683 | ||
| 2 | Morgan Stanley | 2.699% | 1/22/2031 | 1,295 | 1,224 | |
| 2 | Morgan Stanley | 3.622% | 4/1/2031 | 705 | 689 | |
| Morgan Stanley | 5.192% | 4/17/2031 | 1,095 | 1,134 | ||
| 2 | Morgan Stanley | 4.356% | 10/22/2031 | 550 | 551 | |
| 2 | Morgan Stanley | 1.794% | 2/13/2032 | 1,090 | 965 | |
| Morgan Stanley | 7.250% | 4/1/2032 | 560 | 648 | ||
| 2 | Morgan Stanley | 1.928% | 4/28/2032 | 1,010 | 896 | |
| 2 | Morgan Stanley | 2.239% | 7/21/2032 | 685 | 614 | |
| 2 | Morgan Stanley | 2.511% | 10/20/2032 | 1,080 | 979 | |
| Morgan Stanley | 2.943% | 1/21/2033 | 585 | 539 | ||
| Morgan Stanley | 4.889% | 7/20/2033 | 300 | 306 | ||
| Morgan Stanley | 6.342% | 10/18/2033 | 745 | 819 | ||
| 2 | Morgan Stanley | 5.250% | 4/21/2034 | 645 | 668 | |
| 2 | Morgan Stanley | 5.424% | 7/21/2034 | 440 | 459 | |
| Morgan Stanley | 6.627% | 11/1/2034 | 460 | 516 | ||
| Morgan Stanley | 5.466% | 1/18/2035 | 530 | 554 | ||
| Morgan Stanley | 5.831% | 4/19/2035 | 665 | 710 | ||
| Morgan Stanley | 5.320% | 7/19/2035 | 1,069 | 1,106 | ||
| Morgan Stanley | 5.587% | 1/18/2036 | 1,010 | 1,061 | ||
| Morgan Stanley | 5.664% | 4/17/2036 | 610 | 645 | ||
| Morgan Stanley | 2.484% | 9/16/2036 | 650 | 575 | ||
| 2 | Morgan Stanley | 4.892% | 10/22/2036 | 800 | 796 | |
| Morgan Stanley | 5.297% | 4/20/2037 | 400 | 410 | ||
| Morgan Stanley | 5.948% | 1/19/2038 | 470 | 496 | ||
| 2 | Morgan Stanley | 3.971% | 7/22/2038 | 600 | 545 | |
| Morgan Stanley | 5.942% | 2/7/2039 | 315 | 332 | ||
| 2 | Morgan Stanley | 4.457% | 4/22/2039 | 610 | 578 | |
| Morgan Stanley | 5.314% | 1/18/2041 | 400 | 398 | ||
| Morgan Stanley | 3.217% | 4/22/2042 | 380 | 300 | ||
| Morgan Stanley | 6.375% | 7/24/2042 | 480 | 536 | ||
| Morgan Stanley | 4.300% | 1/27/2045 | 830 | 723 | ||
| 2 | Morgan Stanley | 4.375% | 1/22/2047 | 685 | 595 | |
| 2 | Morgan Stanley | 5.597% | 3/24/2051 | 560 | 566 | |
| 2 | Morgan Stanley | 2.802% | 1/25/2052 | 385 | 247 | |
| Morgan Stanley | 5.516% | 11/19/2055 | 865 | 863 | ||
| 2 | Morgan Stanley Bank NA | 5.504% | 5/26/2028 | 625 | 636 | |
| 2 | Morgan Stanley Bank NA | 4.968% | 7/14/2028 | 910 | 922 | |
| Morgan Stanley Bank NA | 5.016% | 1/12/2029 | 345 | 352 | ||
| 2 | Morgan Stanley Private Bank NA | 4.466% | 7/6/2028 | 1,000 | 1,006 | |
| Morgan Stanley Private Bank NA | 4.204% | 11/17/2028 | 710 | 712 | ||
| Morgan Stanley Private Bank NA | 4.734% | 7/18/2031 | 570 | 580 | ||
| Morgan Stanley Private Bank NA | 4.465% | 11/19/2031 | 605 | 608 | ||
| Nasdaq Inc. | 5.350% | 6/28/2028 | 279 | 287 | ||
| Nasdaq Inc. | 5.550% | 2/15/2034 | 337 | 355 | ||
| Nasdaq Inc. | 5.950% | 8/15/2053 | 295 | 306 | ||
| Nasdaq Inc. | 6.100% | 6/28/2063 | 140 | 145 | ||
| National Australia Bank Ltd. | 3.905% | 6/9/2027 | 40 | 40 | ||
21
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| National Australia Bank Ltd. | 5.087% | 6/11/2027 | 430 | 437 | ||
| National Australia Bank Ltd. | 4.944% | 1/12/2028 | 410 | 419 | ||
| National Australia Bank Ltd. | 4.308% | 6/13/2028 | 250 | 253 | ||
| National Australia Bank Ltd. | 4.787% | 1/10/2029 | 285 | 293 | ||
| National Australia Bank Ltd. | 4.901% | 1/14/2030 | 250 | 259 | ||
| National Australia Bank Ltd. | 4.534% | 6/13/2030 | 345 | 354 | ||
| National Bank of Canada | 5.600% | 12/18/2028 | 465 | 485 | ||
| National Bank of Canada | 4.500% | 10/10/2029 | 435 | 442 | ||
| NatWest Group plc | 5.583% | 3/1/2028 | 225 | 229 | ||
| 2 | NatWest Group plc | 3.073% | 5/22/2028 | 310 | 307 | |
| NatWest Group plc | 5.516% | 9/30/2028 | 615 | 629 | ||
| 2 | NatWest Group plc | 4.892% | 5/18/2029 | 305 | 310 | |
| NatWest Group plc | 5.808% | 9/13/2029 | 210 | 219 | ||
| 2 | NatWest Group plc | 5.076% | 1/27/2030 | 560 | 574 | |
| 2 | NatWest Group plc | 4.445% | 5/8/2030 | 255 | 257 | |
| NatWest Group plc | 4.964% | 8/15/2030 | 255 | 261 | ||
| NatWest Group plc | 6.016% | 3/2/2034 | 405 | 436 | ||
| NatWest Group plc | 6.475% | 6/1/2034 | 385 | 406 | ||
| NatWest Group plc | 5.778% | 3/1/2035 | 335 | 356 | ||
| 2 | NatWest Group plc | 3.032% | 11/28/2035 | 180 | 168 | |
| Nomura Holdings Inc. | 6.070% | 7/12/2028 | 100 | 104 | ||
| Nomura Holdings Inc. | 2.172% | 7/14/2028 | 205 | 196 | ||
| Nomura Holdings Inc. | 3.103% | 1/16/2030 | 210 | 201 | ||
| Nomura Holdings Inc. | 2.679% | 7/16/2030 | 140 | 131 | ||
| Nomura Holdings Inc. | 2.608% | 7/14/2031 | 350 | 319 | ||
| Nomura Holdings Inc. | 2.999% | 1/22/2032 | 305 | 281 | ||
| Nomura Holdings Inc. | 6.181% | 1/18/2033 | 135 | 147 | ||
| Nomura Holdings Inc. | 5.783% | 7/3/2034 | 310 | 329 | ||
| Nomura Holdings Inc. | 5.043% | 6/10/2036 | 300 | 301 | ||
| Northern Trust Corp. | 1.950% | 5/1/2030 | 170 | 157 | ||
| Northern Trust Corp. | 6.125% | 11/2/2032 | 335 | 367 | ||
| PayPal Holdings Inc. | 2.850% | 10/1/2029 | 490 | 473 | ||
| PayPal Holdings Inc. | 2.300% | 6/1/2030 | 195 | 182 | ||
| PayPal Holdings Inc. | 4.400% | 6/1/2032 | 375 | 376 | ||
| PayPal Holdings Inc. | 5.150% | 6/1/2034 | 160 | 163 | ||
| PayPal Holdings Inc. | 3.250% | 6/1/2050 | 485 | 337 | ||
| PayPal Holdings Inc. | 5.050% | 6/1/2052 | 255 | 228 | ||
| 2 | PNC Bank NA | 3.100% | 10/25/2027 | 330 | 326 | |
| 2 | PNC Bank NA | 4.050% | 7/26/2028 | 600 | 601 | |
| 2 | PNC Bank NA | 2.700% | 10/22/2029 | 255 | 243 | |
| PNC Financial Services Group Inc. | 3.150% | 5/19/2027 | 236 | 234 | ||
| PNC Financial Services Group Inc. | 5.354% | 12/2/2028 | 835 | 856 | ||
| PNC Financial Services Group Inc. | 3.450% | 4/23/2029 | 385 | 381 | ||
| PNC Financial Services Group Inc. | 5.582% | 6/12/2029 | 865 | 896 | ||
| PNC Financial Services Group Inc. | 2.550% | 1/22/2030 | 685 | 649 | ||
| PNC Financial Services Group Inc. | 5.492% | 5/14/2030 | 500 | 522 | ||
| PNC Financial Services Group Inc. | 5.222% | 1/29/2031 | 165 | 171 | ||
| PNC Financial Services Group Inc. | 4.899% | 5/13/2031 | 325 | 334 | ||
| PNC Financial Services Group Inc. | 2.307% | 4/23/2032 | 370 | 337 | ||
| PNC Financial Services Group Inc. | 4.812% | 10/21/2032 | 795 | 812 | ||
| PNC Financial Services Group Inc. | 4.626% | 6/6/2033 | 230 | 229 | ||
| PNC Financial Services Group Inc. | 6.037% | 10/28/2033 | 345 | 374 | ||
| PNC Financial Services Group Inc. | 5.068% | 1/24/2034 | 260 | 268 | ||
| PNC Financial Services Group Inc. | 5.939% | 8/18/2034 | 220 | 238 | ||
| PNC Financial Services Group Inc. | 6.875% | 10/20/2034 | 425 | 482 | ||
| PNC Financial Services Group Inc. | 5.676% | 1/22/2035 | 425 | 451 | ||
| PNC Financial Services Group Inc. | 5.401% | 7/23/2035 | 430 | 448 | ||
| PNC Financial Services Group Inc. | 5.575% | 1/29/2036 | 535 | 564 | ||
| PNC Financial Services Group Inc. | 5.373% | 7/21/2036 | 300 | 311 | ||
| PNC Financial Services Group Inc. | 5.423% | 1/25/2041 | 610 | 616 | ||
| Progressive Corp. | 4.125% | 4/15/2047 | 205 | 170 | ||
| Prudential Financial Inc. | 5.200% | 3/14/2035 | 370 | 379 | ||
| 2 | Prudential Financial Inc. | 5.700% | 12/14/2036 | 175 | 185 | |
| 2 | Prudential Financial Inc. | 4.600% | 5/15/2044 | 90 | 80 | |
| 2 | Prudential Financial Inc. | 4.500% | 9/15/2047 | 545 | 538 | |
| Prudential Financial Inc. | 3.905% | 12/7/2047 | 190 | 149 | ||
| 2 | Prudential Financial Inc. | 5.700% | 9/15/2048 | 510 | 515 | |
| Prudential Financial Inc. | 3.935% | 12/7/2049 | 245 | 189 | ||
| 2 | Prudential Financial Inc. | 4.350% | 2/25/2050 | 220 | 179 | |
| 2 | Prudential Financial Inc. | 3.700% | 10/1/2050 | 185 | 173 | |
22
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| 2 | Prudential Financial Inc. | 3.700% | 3/13/2051 | 350 | 256 | |
| Prudential Financial Inc. | 5.125% | 3/1/2052 | 310 | 305 | ||
| Prudential Financial Inc. | 6.000% | 9/1/2052 | 155 | 161 | ||
| Prudential Financial Inc. | 6.500% | 3/15/2054 | 345 | 364 | ||
| Prudential Funding Asia plc | 3.125% | 4/14/2030 | 235 | 227 | ||
| Raymond James Financial Inc. | 4.950% | 7/15/2046 | 175 | 161 | ||
| Raymond James Financial Inc. | 3.750% | 4/1/2051 | 490 | 363 | ||
| Regions Financial Corp. | 5.722% | 6/6/2030 | 123 | 129 | ||
| Regions Financial Corp. | 5.502% | 9/6/2035 | 390 | 403 | ||
| RenaissanceRe Holdings Ltd. | 5.750% | 6/5/2033 | 145 | 153 | ||
| Royal Bank of Canada | 3.625% | 5/4/2027 | 370 | 369 | ||
| 2 | Royal Bank of Canada | 4.240% | 8/3/2027 | 505 | 508 | |
| 2 | Royal Bank of Canada | 6.000% | 11/1/2027 | 460 | 476 | |
| 2 | Royal Bank of Canada | 4.900% | 1/12/2028 | 400 | 408 | |
| 2 | Royal Bank of Canada | 5.200% | 8/1/2028 | 185 | 191 | |
| 2 | Royal Bank of Canada | 4.522% | 10/18/2028 | 320 | 323 | |
| 2 | Royal Bank of Canada | 4.965% | 1/24/2029 | 205 | 209 | |
| 2 | Royal Bank of Canada | 4.950% | 2/1/2029 | 140 | 144 | |
| 2 | Royal Bank of Canada | 4.969% | 8/2/2030 | 580 | 596 | |
| 2 | Royal Bank of Canada | 4.650% | 10/18/2030 | 450 | 459 | |
| 2 | Royal Bank of Canada | 5.153% | 2/4/2031 | 647 | 671 | |
| 2 | Royal Bank of Canada | 4.970% | 5/2/2031 | 320 | 330 | |
| Royal Bank of Canada | 4.696% | 8/6/2031 | 400 | 409 | ||
| 2 | Royal Bank of Canada | 2.300% | 11/3/2031 | 465 | 424 | |
| Royal Bank of Canada | 3.875% | 5/4/2032 | 205 | 201 | ||
| 2 | Royal Bank of Canada | 5.000% | 2/1/2033 | 685 | 710 | |
| 2 | Royal Bank of Canada | 5.000% | 5/2/2033 | 305 | 316 | |
| 2 | Royal Bank of Canada | 5.150% | 2/1/2034 | 315 | 331 | |
| Santander Holdings USA Inc. | 4.400% | 7/13/2027 | 345 | 346 | ||
| Santander Holdings USA Inc. | 5.473% | 3/20/2029 | 305 | 312 | ||
| Santander Holdings USA Inc. | 6.174% | 1/9/2030 | 340 | 355 | ||
| Santander Holdings USA Inc. | 5.353% | 9/6/2030 | 525 | 540 | ||
| Santander Holdings USA Inc. | 6.342% | 5/31/2035 | 300 | 323 | ||
| 2 | Santander UK Group Holdings plc | 3.823% | 11/3/2028 | 435 | 433 | |
| Santander UK Group Holdings plc | 6.534% | 1/10/2029 | 150 | 156 | ||
| Santander UK Group Holdings plc | 4.858% | 9/11/2030 | 300 | 305 | ||
| Santander UK Group Holdings plc | 5.694% | 4/15/2031 | 485 | 509 | ||
| State Street Corp. | 4.993% | 3/18/2027 | 185 | 187 | ||
| State Street Corp. | 4.536% | 2/28/2028 | 400 | 406 | ||
| State Street Corp. | 4.530% | 2/20/2029 | 245 | 248 | ||
| State Street Corp. | 5.684% | 11/21/2029 | 325 | 340 | ||
| State Street Corp. | 2.400% | 1/24/2030 | 356 | 338 | ||
| State Street Corp. | 4.834% | 4/24/2030 | 175 | 180 | ||
| State Street Corp. | 2.200% | 3/3/2031 | 410 | 373 | ||
| State Street Corp. | 4.675% | 10/22/2032 | 170 | 174 | ||
| State Street Corp. | 4.164% | 8/4/2033 | 162 | 160 | ||
| State Street Corp. | 4.821% | 1/26/2034 | 75 | 76 | ||
| State Street Corp. | 5.159% | 5/18/2034 | 110 | 114 | ||
| State Street Corp. | 5.146% | 2/28/2036 | 315 | 324 | ||
| State Street Corp. | 4.784% | 10/23/2036 | 245 | 245 | ||
| Sumitomo Mitsui Financial Group Inc. | 3.364% | 7/12/2027 | 200 | 199 | ||
| Sumitomo Mitsui Financial Group Inc. | 3.352% | 10/18/2027 | 450 | 447 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.520% | 1/13/2028 | 400 | 412 | ||
| Sumitomo Mitsui Financial Group Inc. | 3.544% | 1/17/2028 | 185 | 184 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.800% | 7/13/2028 | 375 | 391 | ||
| Sumitomo Mitsui Financial Group Inc. | 3.944% | 7/19/2028 | 85 | 85 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.716% | 9/14/2028 | 475 | 495 | ||
| Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/2028 | 380 | 361 | ||
| Sumitomo Mitsui Financial Group Inc. | 4.108% | 1/15/2029 | 250 | 251 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.316% | 7/9/2029 | 50 | 52 | ||
| Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/2029 | 700 | 678 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.710% | 1/13/2030 | 460 | 486 | ||
| Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/2030 | 265 | 252 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.240% | 4/15/2030 | 196 | 205 | ||
| Sumitomo Mitsui Financial Group Inc. | 2.130% | 7/8/2030 | 425 | 391 | ||
| Sumitomo Mitsui Financial Group Inc. | 2.142% | 9/23/2030 | 224 | 205 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.424% | 7/9/2031 | 310 | 327 | ||
| Sumitomo Mitsui Financial Group Inc. | 2.222% | 9/17/2031 | 226 | 203 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.454% | 1/15/2032 | 170 | 180 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.766% | 1/13/2033 | 350 | 376 | ||
23
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Sumitomo Mitsui Financial Group Inc. | 5.808% | 9/14/2033 | 245 | 264 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.558% | 7/9/2034 | 635 | 672 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.046% | 1/15/2037 | 305 | 309 | ||
| Sumitomo Mitsui Financial Group Inc. | 2.930% | 9/17/2041 | 390 | 294 | ||
| Sumitomo Mitsui Financial Group Inc. | 6.184% | 7/13/2043 | 208 | 230 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.836% | 7/9/2044 | 410 | 428 | ||
| Sumitomo Mitsui Financial Group Inc. | 5.570% | 1/15/2047 | 250 | 255 | ||
| Synchrony Financial | 3.950% | 12/1/2027 | 215 | 214 | ||
| Synchrony Financial | 5.935% | 8/2/2030 | 100 | 104 | ||
| Synchrony Financial | 5.450% | 3/6/2031 | 255 | 261 | ||
| Synchrony Financial | 2.875% | 10/28/2031 | 215 | 193 | ||
| 2 | Toronto-Dominion Bank | 2.800% | 3/10/2027 | 355 | 352 | |
| 2 | Toronto-Dominion Bank | 4.980% | 4/5/2027 | 360 | 364 | |
| Toronto-Dominion Bank | 4.108% | 6/8/2027 | 695 | 697 | ||
| 2 | Toronto-Dominion Bank | 4.693% | 9/15/2027 | 305 | 309 | |
| Toronto-Dominion Bank | 5.156% | 1/10/2028 | 348 | 356 | ||
| Toronto-Dominion Bank | 3.913% | 1/13/2028 | 320 | 320 | ||
| Toronto-Dominion Bank | 4.861% | 1/31/2028 | 152 | 155 | ||
| 2 | Toronto-Dominion Bank | 5.523% | 7/17/2028 | 505 | 523 | |
| 2 | Toronto-Dominion Bank | 4.994% | 4/5/2029 | 300 | 309 | |
| Toronto-Dominion Bank | 4.783% | 12/17/2029 | 245 | 252 | ||
| 2 | Toronto-Dominion Bank | 4.808% | 6/3/2030 | 700 | 719 | |
| Toronto-Dominion Bank | 4.411% | 1/13/2031 | 500 | 506 | ||
| 2 | Toronto-Dominion Bank | 2.000% | 9/10/2031 | 725 | 654 | |
| Toronto-Dominion Bank | 5.298% | 1/30/2032 | 210 | 221 | ||
| 2 | Toronto-Dominion Bank | 3.200% | 3/10/2032 | 366 | 345 | |
| Toronto-Dominion Bank | 4.456% | 6/8/2032 | 349 | 352 | ||
| Toronto-Dominion Bank | 5.146% | 9/10/2034 | 300 | 306 | ||
| 2 | Travelers Cos. Inc. | 6.250% | 6/15/2037 | 200 | 224 | |
| Travelers Cos. Inc. | 5.350% | 11/1/2040 | 110 | 112 | ||
| Travelers Cos. Inc. | 3.050% | 6/8/2051 | 190 | 127 | ||
| Travelers Cos. Inc. | 5.450% | 5/25/2053 | 335 | 331 | ||
| Travelers Cos. Inc. | 5.700% | 7/24/2055 | 115 | 118 | ||
| 2 | Truist Bank | 4.144% | 1/27/2029 | 500 | 501 | |
| 2 | Truist Bank | 2.250% | 3/11/2030 | 300 | 277 | |
| 2 | Truist Financial Corp. | 4.123% | 6/6/2028 | 590 | 591 | |
| 2 | Truist Financial Corp. | 1.887% | 6/7/2029 | 650 | 621 | |
| 2 | Truist Financial Corp. | 7.161% | 10/30/2029 | 935 | 1,006 | |
| 2 | Truist Financial Corp. | 5.435% | 1/24/2030 | 460 | 477 | |
| 2 | Truist Financial Corp. | 1.950% | 6/5/2030 | 140 | 129 | |
| 2 | Truist Financial Corp. | 5.071% | 5/20/2031 | 345 | 356 | |
| 2 | Truist Financial Corp. | 5.153% | 8/5/2032 | 985 | 1,022 | |
| 2 | Truist Financial Corp. | 4.916% | 7/28/2033 | 265 | 267 | |
| 2 | Truist Financial Corp. | 6.123% | 10/28/2033 | 405 | 439 | |
| 2 | Truist Financial Corp. | 5.122% | 1/26/2034 | 200 | 205 | |
| 2 | Truist Financial Corp. | 5.867% | 6/8/2034 | 120 | 128 | |
| 2 | Truist Financial Corp. | 5.711% | 1/24/2035 | 300 | 318 | |
| 2 | Truist Financial Corp. | 4.964% | 10/23/2036 | 535 | 533 | |
| UBS AG | 5.000% | 7/9/2027 | 300 | 305 | ||
| UBS AG | 7.500% | 2/15/2028 | 409 | 438 | ||
| UBS AG | 5.650% | 9/11/2028 | 240 | 250 | ||
| UBS AG | 4.500% | 6/26/2048 | 505 | 444 | ||
| UBS Group AG | 4.875% | 5/15/2045 | 330 | 308 | ||
| 2 | US Bancorp | 3.150% | 4/27/2027 | 255 | 254 | |
| 2 | US Bancorp | 3.900% | 4/26/2028 | 190 | 191 | |
| US Bancorp | 4.653% | 2/1/2029 | 550 | 557 | ||
| US Bancorp | 5.775% | 6/12/2029 | 590 | 613 | ||
| 2 | US Bancorp | 3.000% | 7/30/2029 | 285 | 277 | |
| US Bancorp | 5.384% | 1/23/2030 | 360 | 373 | ||
| 2 | US Bancorp | 1.375% | 7/22/2030 | 383 | 342 | |
| US Bancorp | 5.100% | 7/23/2030 | 440 | 455 | ||
| US Bancorp | 5.046% | 2/12/2031 | 210 | 217 | ||
| US Bancorp | 5.083% | 5/15/2031 | 175 | 181 | ||
| 2 | US Bancorp | 2.677% | 1/27/2033 | 315 | 287 | |
| 2 | US Bancorp | 4.967% | 7/22/2033 | 300 | 305 | |
| US Bancorp | 5.850% | 10/21/2033 | 580 | 625 | ||
| US Bancorp | 4.839% | 2/1/2034 | 545 | 553 | ||
| US Bancorp | 5.836% | 6/12/2034 | 245 | 263 | ||
| US Bancorp | 5.678% | 1/23/2035 | 480 | 510 | ||
| US Bancorp | 5.424% | 2/12/2036 | 290 | 304 | ||
24
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| US Bancorp | 2.491% | 11/3/2036 | 590 | 522 | ||
| US Bancorp | 5.033% | 1/26/2037 | 290 | 293 | ||
| US Bank NA | 4.730% | 5/15/2028 | 655 | 661 | ||
| Visa Inc. | 1.900% | 4/15/2027 | 540 | 530 | ||
| Visa Inc. | 2.750% | 9/15/2027 | 575 | 568 | ||
| Visa Inc. | 2.050% | 4/15/2030 | 475 | 444 | ||
| Visa Inc. | 1.100% | 2/15/2031 | 250 | 220 | ||
| Visa Inc. | 4.150% | 12/14/2035 | 545 | 534 | ||
| Visa Inc. | 2.700% | 4/15/2040 | 140 | 109 | ||
| Visa Inc. | 4.300% | 12/14/2045 | 950 | 836 | ||
| Visa Inc. | 3.650% | 9/15/2047 | 275 | 218 | ||
| Visa Inc. | 2.000% | 8/15/2050 | 215 | 118 | ||
| Wachovia Corp. | 5.500% | 8/1/2035 | 470 | 489 | ||
| 2 | Wells Fargo & Co. | 4.300% | 7/22/2027 | 1,005 | 1,009 | |
| 2 | Wells Fargo & Co. | 3.526% | 3/24/2028 | 820 | 816 | |
| 2 | Wells Fargo & Co. | 5.707% | 4/22/2028 | 1,063 | 1,083 | |
| 2 | Wells Fargo & Co. | 3.584% | 5/22/2028 | 450 | 448 | |
| 2 | Wells Fargo & Co. | 2.393% | 6/2/2028 | 974 | 955 | |
| 2 | Wells Fargo & Co. | 4.808% | 7/25/2028 | 455 | 460 | |
| 2 | Wells Fargo & Co. | 4.150% | 1/24/2029 | 1,455 | 1,464 | |
| 2 | Wells Fargo & Co. | 5.574% | 7/25/2029 | 915 | 947 | |
| Wells Fargo & Co. | 6.303% | 10/23/2029 | 1,095 | 1,155 | ||
| Wells Fargo & Co. | 5.198% | 1/23/2030 | 870 | 896 | ||
| 2 | Wells Fargo & Co. | 2.879% | 10/30/2030 | 825 | 789 | |
| Wells Fargo & Co. | 5.244% | 1/24/2031 | 925 | 960 | ||
| 2 | Wells Fargo & Co. | 2.572% | 2/11/2031 | 600 | 565 | |
| 2 | Wells Fargo & Co. | 4.478% | 4/4/2031 | 720 | 727 | |
| Wells Fargo & Co. | 5.150% | 4/23/2031 | 300 | 311 | ||
| 2 | Wells Fargo & Co. | 3.350% | 3/2/2033 | 805 | 756 | |
| 2 | Wells Fargo & Co. | 4.897% | 7/25/2033 | 830 | 846 | |
| Wells Fargo & Co. | 5.389% | 4/24/2034 | 715 | 745 | ||
| 2 | Wells Fargo & Co. | 5.557% | 7/25/2034 | 720 | 757 | |
| Wells Fargo & Co. | 6.491% | 10/23/2034 | 690 | 766 | ||
| Wells Fargo & Co. | 5.499% | 1/23/2035 | 898 | 940 | ||
| Wells Fargo & Co. | 5.211% | 12/3/2035 | 1,265 | 1,298 | ||
| Wells Fargo & Co. | 5.605% | 4/23/2036 | 1,015 | 1,068 | ||
| Wells Fargo & Co. | 4.960% | 1/23/2037 | 1,400 | 1,405 | ||
| 2 | Wells Fargo & Co. | 3.068% | 4/30/2041 | 745 | 581 | |
| Wells Fargo & Co. | 5.375% | 11/2/2043 | 345 | 337 | ||
| Wells Fargo & Co. | 5.606% | 1/15/2044 | 710 | 706 | ||
| 2 | Wells Fargo & Co. | 4.650% | 11/4/2044 | 795 | 699 | |
| Wells Fargo & Co. | 3.900% | 5/1/2045 | 770 | 629 | ||
| 2 | Wells Fargo & Co. | 4.900% | 11/17/2045 | 440 | 396 | |
| 2 | Wells Fargo & Co. | 4.400% | 6/14/2046 | 95 | 80 | |
| 2 | Wells Fargo & Co. | 4.750% | 12/7/2046 | 375 | 332 | |
| Wells Fargo & Co. | 5.433% | 1/23/2047 | 535 | 530 | ||
| 2 | Wells Fargo & Co. | 5.013% | 4/4/2051 | 1,450 | 1,326 | |
| 2 | Wells Fargo & Co. | 4.611% | 4/25/2053 | 910 | 784 | |
| 2 | Wells Fargo Bank NA | 5.850% | 2/1/2037 | 680 | 724 | |
| 2 | Wells Fargo Bank NA | 6.600% | 1/15/2038 | 335 | 379 | |
| Westpac Banking Corp. | 3.350% | 3/8/2027 | 310 | 309 | ||
| Westpac Banking Corp. | 4.043% | 8/26/2027 | 270 | 272 | ||
| Westpac Banking Corp. | 5.457% | 11/18/2027 | 225 | 232 | ||
| Westpac Banking Corp. | 3.400% | 1/25/2028 | 340 | 339 | ||
| Westpac Banking Corp. | 5.535% | 11/17/2028 | 230 | 241 | ||
| Westpac Banking Corp. | 1.953% | 11/20/2028 | 445 | 425 | ||
| Westpac Banking Corp. | 5.050% | 4/16/2029 | 40 | 42 | ||
| Westpac Banking Corp. | 4.354% | 7/1/2030 | 210 | 214 | ||
| Westpac Banking Corp. | 2.150% | 6/3/2031 | 400 | 366 | ||
| Westpac Banking Corp. | 5.405% | 8/10/2033 | 435 | 454 | ||
| Westpac Banking Corp. | 6.820% | 11/17/2033 | 320 | 361 | ||
| Westpac Banking Corp. | 4.110% | 7/24/2034 | 395 | 392 | ||
| Westpac Banking Corp. | 2.668% | 11/15/2035 | 400 | 367 | ||
| 2 | Westpac Banking Corp. | 5.618% | 11/20/2035 | 270 | 283 | |
| Westpac Banking Corp. | 3.020% | 11/18/2036 | 320 | 293 | ||
| Westpac Banking Corp. | 4.421% | 7/24/2039 | 165 | 154 | ||
| Westpac Banking Corp. | 2.963% | 11/16/2040 | 125 | 97 | ||
| Westpac Banking Corp. | 3.133% | 11/18/2041 | 315 | 243 | ||
| Willis North America Inc. | 4.650% | 6/15/2027 | 190 | 191 | ||
| Willis North America Inc. | 5.350% | 5/15/2033 | 295 | 304 | ||
25
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Willis North America Inc. | 5.900% | 3/5/2054 | 190 | 188 | ||
| 455,412 | ||||||
| Health Care (15.3%) | ||||||
| 1 | Abbott Laboratories | 3.700% | 3/9/2029 | 575 | 575 | |
| 1 | Abbott Laboratories | 4.000% | 3/15/2031 | 625 | 625 | |
| 1 | Abbott Laboratories | 4.300% | 3/15/2033 | 700 | 699 | |
| 1 | Abbott Laboratories | 4.650% | 3/15/2036 | 950 | 949 | |
| Abbott Laboratories | 4.750% | 11/30/2036 | 440 | 444 | ||
| 1 | Abbott Laboratories | 4.750% | 3/15/2038 | 500 | 498 | |
| Abbott Laboratories | 4.900% | 11/30/2046 | 825 | 782 | ||
| 1 | Abbott Laboratories | 5.500% | 3/15/2056 | 950 | 954 | |
| 1 | Abbott Laboratories | 5.600% | 3/15/2066 | 500 | 500 | |
| AbbVie Inc. | 4.800% | 3/15/2027 | 605 | 611 | ||
| 1 | AbbVie Inc. | 3.775% | 3/3/2028 | 381 | 382 | |
| AbbVie Inc. | 4.650% | 3/15/2028 | 400 | 407 | ||
| AbbVie Inc. | 4.250% | 11/14/2028 | 445 | 450 | ||
| AbbVie Inc. | 4.800% | 3/15/2029 | 875 | 899 | ||
| AbbVie Inc. | 3.200% | 11/21/2029 | 1,160 | 1,133 | ||
| AbbVie Inc. | 4.875% | 3/15/2030 | 285 | 295 | ||
| AbbVie Inc. | 4.950% | 3/15/2031 | 645 | 671 | ||
| AbbVie Inc. | 5.050% | 3/15/2034 | 765 | 794 | ||
| AbbVie Inc. | 4.550% | 3/15/2035 | 605 | 602 | ||
| AbbVie Inc. | 5.200% | 3/15/2035 | 210 | 219 | ||
| AbbVie Inc. | 4.500% | 5/14/2035 | 685 | 679 | ||
| AbbVie Inc. | 4.300% | 5/14/2036 | 145 | 141 | ||
| AbbVie Inc. | 4.050% | 11/21/2039 | 790 | 715 | ||
| AbbVie Inc. | 4.400% | 11/6/2042 | 695 | 630 | ||
| AbbVie Inc. | 4.850% | 6/15/2044 | 575 | 541 | ||
| AbbVie Inc. | 4.750% | 3/15/2045 | 325 | 301 | ||
| AbbVie Inc. | 4.700% | 5/14/2045 | 750 | 687 | ||
| AbbVie Inc. | 4.450% | 5/14/2046 | 1,020 | 904 | ||
| AbbVie Inc. | 4.875% | 11/14/2048 | 75 | 69 | ||
| AbbVie Inc. | 4.250% | 11/21/2049 | 1,615 | 1,358 | ||
| AbbVie Inc. | 5.400% | 3/15/2054 | 710 | 697 | ||
| AbbVie Inc. | 5.500% | 3/15/2064 | 387 | 381 | ||
| Aetna Inc. | 6.625% | 6/15/2036 | 235 | 262 | ||
| Agilent Technologies Inc. | 2.300% | 3/12/2031 | 145 | 132 | ||
| Amgen Inc. | 5.150% | 3/2/2028 | 744 | 762 | ||
| Amgen Inc. | 1.650% | 8/15/2028 | 425 | 404 | ||
| Amgen Inc. | 4.050% | 8/18/2029 | 440 | 442 | ||
| Amgen Inc. | 2.450% | 2/21/2030 | 720 | 679 | ||
| Amgen Inc. | 5.250% | 3/2/2030 | 995 | 1,038 | ||
| Amgen Inc. | 2.300% | 2/25/2031 | 365 | 335 | ||
| Amgen Inc. | 2.000% | 1/15/2032 | 630 | 556 | ||
| Amgen Inc. | 3.350% | 2/22/2032 | 210 | 200 | ||
| Amgen Inc. | 4.200% | 3/1/2033 | 185 | 183 | ||
| Amgen Inc. | 5.250% | 3/2/2033 | 1,050 | 1,099 | ||
| Amgen Inc. | 3.150% | 2/21/2040 | 600 | 482 | ||
| Amgen Inc. | 5.600% | 3/2/2043 | 625 | 639 | ||
| Amgen Inc. | 4.400% | 5/1/2045 | 451 | 394 | ||
| Amgen Inc. | 4.563% | 6/15/2048 | 455 | 397 | ||
| Amgen Inc. | 4.663% | 6/15/2051 | 670 | 586 | ||
| Amgen Inc. | 4.200% | 2/22/2052 | 325 | 263 | ||
| Amgen Inc. | 4.875% | 3/1/2053 | 220 | 196 | ||
| Amgen Inc. | 5.650% | 3/2/2053 | 1,305 | 1,302 | ||
| Amgen Inc. | 2.770% | 9/1/2053 | 355 | 216 | ||
| Amgen Inc. | 4.400% | 2/22/2062 | 240 | 192 | ||
| Amgen Inc. | 5.750% | 3/2/2063 | 765 | 757 | ||
| 2 | Ascension Health | 2.532% | 11/15/2029 | 105 | 100 | |
| Becton Dickinson & Co. | 3.700% | 6/6/2027 | 399 | 398 | ||
| Becton Dickinson & Co. | 4.693% | 2/13/2028 | 170 | 172 | ||
| Becton Dickinson & Co. | 2.823% | 5/20/2030 | 255 | 243 | ||
| Becton Dickinson & Co. | 1.957% | 2/11/2031 | 385 | 346 | ||
| Biogen Inc. | 2.250% | 5/1/2030 | 520 | 482 | ||
| Biogen Inc. | 5.200% | 9/15/2045 | 275 | 258 | ||
| Biogen Inc. | 3.150% | 5/1/2050 | 345 | 227 | ||
| Boston Scientific Corp. | 2.650% | 6/1/2030 | 320 | 303 | ||
| Bristol-Myers Squibb Co. | 1.125% | 11/13/2027 | 495 | 475 | ||
| Bristol-Myers Squibb Co. | 1.450% | 11/13/2030 | 345 | 308 | ||
26
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Bristol-Myers Squibb Co. | 5.750% | 2/1/2031 | 320 | 344 | ||
| Bristol-Myers Squibb Co. | 5.100% | 2/22/2031 | 350 | 366 | ||
| Bristol-Myers Squibb Co. | 2.950% | 3/15/2032 | 285 | 266 | ||
| Bristol-Myers Squibb Co. | 5.200% | 2/22/2034 | 675 | 706 | ||
| Bristol-Myers Squibb Co. | 4.125% | 6/15/2039 | 630 | 579 | ||
| Bristol-Myers Squibb Co. | 2.350% | 11/13/2040 | 130 | 94 | ||
| Bristol-Myers Squibb Co. | 3.550% | 3/15/2042 | 410 | 337 | ||
| Bristol-Myers Squibb Co. | 4.350% | 11/15/2047 | 435 | 372 | ||
| Bristol-Myers Squibb Co. | 4.550% | 2/20/2048 | 467 | 409 | ||
| Bristol-Myers Squibb Co. | 4.250% | 10/26/2049 | 595 | 495 | ||
| Bristol-Myers Squibb Co. | 2.550% | 11/13/2050 | 375 | 226 | ||
| Bristol-Myers Squibb Co. | 3.700% | 3/15/2052 | 595 | 444 | ||
| Bristol-Myers Squibb Co. | 5.550% | 2/22/2054 | 535 | 531 | ||
| Bristol-Myers Squibb Co. | 3.900% | 3/15/2062 | 335 | 246 | ||
| Cardinal Health Inc. | 3.410% | 6/15/2027 | 160 | 159 | ||
| Cardinal Health Inc. | 5.000% | 11/15/2029 | 125 | 129 | ||
| Cardinal Health Inc. | 5.350% | 11/15/2034 | 210 | 218 | ||
| Cencora Inc. | 3.450% | 12/15/2027 | 220 | 218 | ||
| Cencora Inc. | 2.700% | 3/15/2031 | 251 | 234 | ||
| Centene Corp. | 4.250% | 12/15/2027 | 630 | 626 | ||
| Centene Corp. | 2.450% | 7/15/2028 | 535 | 505 | ||
| Centene Corp. | 4.625% | 12/15/2029 | 610 | 595 | ||
| Centene Corp. | 3.375% | 2/15/2030 | 570 | 529 | ||
| Centene Corp. | 3.000% | 10/15/2030 | 470 | 423 | ||
| Centene Corp. | 2.500% | 3/1/2031 | 550 | 477 | ||
| Centene Corp. | 2.625% | 8/1/2031 | 320 | 277 | ||
| 2 | Cigna Group | 3.400% | 3/1/2027 | 300 | 299 | |
| Cigna Group | 4.375% | 10/15/2028 | 930 | 939 | ||
| Cigna Group | 5.000% | 5/15/2029 | 475 | 489 | ||
| Cigna Group | 2.400% | 3/15/2030 | 510 | 479 | ||
| Cigna Group | 4.500% | 9/15/2030 | 335 | 340 | ||
| Cigna Group | 2.375% | 3/15/2031 | 480 | 440 | ||
| Cigna Group | 5.125% | 5/15/2031 | 490 | 510 | ||
| Cigna Group | 4.875% | 9/15/2032 | 350 | 358 | ||
| Cigna Group | 5.400% | 3/15/2033 | 210 | 221 | ||
| Cigna Group | 5.250% | 2/15/2034 | 215 | 223 | ||
| Cigna Group | 5.250% | 1/15/2036 | 425 | 436 | ||
| Cigna Group | 4.800% | 8/15/2038 | 540 | 523 | ||
| Cigna Group | 3.200% | 3/15/2040 | 125 | 100 | ||
| 2 | Cigna Group | 4.800% | 7/15/2046 | 485 | 435 | |
| 2 | Cigna Group | 3.875% | 10/15/2047 | 525 | 408 | |
| Cigna Group | 4.900% | 12/15/2048 | 554 | 498 | ||
| Cigna Group | 3.400% | 3/15/2050 | 215 | 152 | ||
| Cigna Group | 3.400% | 3/15/2051 | 225 | 158 | ||
| Cigna Group | 5.600% | 2/15/2054 | 476 | 466 | ||
| Cigna Group | 6.000% | 1/15/2056 | 225 | 233 | ||
| CommonSpirit Health | 5.205% | 12/1/2031 | 575 | 599 | ||
| 2 | CommonSpirit Health | 4.350% | 11/1/2042 | 275 | 245 | |
| CommonSpirit Health | 4.187% | 10/1/2049 | 340 | 277 | ||
| CVS Health Corp. | 3.625% | 4/1/2027 | 770 | 767 | ||
| CVS Health Corp. | 4.300% | 3/25/2028 | 900 | 905 | ||
| CVS Health Corp. | 5.000% | 1/30/2029 | 410 | 421 | ||
| CVS Health Corp. | 5.400% | 6/1/2029 | 460 | 478 | ||
| CVS Health Corp. | 3.250% | 8/15/2029 | 440 | 428 | ||
| CVS Health Corp. | 5.125% | 2/21/2030 | 530 | 546 | ||
| CVS Health Corp. | 3.750% | 4/1/2030 | 365 | 359 | ||
| CVS Health Corp. | 1.750% | 8/21/2030 | 240 | 216 | ||
| CVS Health Corp. | 5.250% | 1/30/2031 | 180 | 187 | ||
| CVS Health Corp. | 1.875% | 2/28/2031 | 525 | 468 | ||
| CVS Health Corp. | 2.125% | 9/15/2031 | 240 | 213 | ||
| CVS Health Corp. | 5.250% | 2/21/2033 | 525 | 545 | ||
| CVS Health Corp. | 5.300% | 6/1/2033 | 490 | 508 | ||
| CVS Health Corp. | 5.700% | 6/1/2034 | 379 | 400 | ||
| CVS Health Corp. | 5.450% | 9/15/2035 | 415 | 428 | ||
| CVS Health Corp. | 4.780% | 3/25/2038 | 1,469 | 1,402 | ||
| CVS Health Corp. | 4.125% | 4/1/2040 | 75 | 65 | ||
| CVS Health Corp. | 5.300% | 12/5/2043 | 300 | 283 | ||
| CVS Health Corp. | 5.125% | 7/20/2045 | 1,130 | 1,033 | ||
| CVS Health Corp. | 5.050% | 3/25/2048 | 1,995 | 1,778 | ||
| CVS Health Corp. | 5.625% | 2/21/2053 | 270 | 257 | ||
27
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| CVS Health Corp. | 5.875% | 6/1/2053 | 570 | 558 | ||
| CVS Health Corp. | 6.200% | 9/15/2055 | 275 | 282 | ||
| CVS Health Corp. | 6.000% | 6/1/2063 | 265 | 259 | ||
| Danaher Corp. | 2.600% | 10/1/2050 | 145 | 90 | ||
| Danaher Corp. | 2.800% | 12/10/2051 | 365 | 233 | ||
| DH Europe Finance II Sarl | 2.600% | 11/15/2029 | 145 | 138 | ||
| DH Europe Finance II Sarl | 3.250% | 11/15/2039 | 200 | 165 | ||
| DH Europe Finance II Sarl | 3.400% | 11/15/2049 | 140 | 102 | ||
| Elevance Health Inc. | 3.650% | 12/1/2027 | 512 | 510 | ||
| Elevance Health Inc. | 4.101% | 3/1/2028 | 335 | 336 | ||
| Elevance Health Inc. | 2.875% | 9/15/2029 | 205 | 197 | ||
| Elevance Health Inc. | 4.750% | 2/15/2030 | 180 | 184 | ||
| Elevance Health Inc. | 2.250% | 5/15/2030 | 135 | 125 | ||
| Elevance Health Inc. | 2.550% | 3/15/2031 | 125 | 115 | ||
| Elevance Health Inc. | 4.950% | 11/1/2031 | 195 | 201 | ||
| Elevance Health Inc. | 4.750% | 2/15/2033 | 295 | 298 | ||
| Elevance Health Inc. | 5.375% | 6/15/2034 | 375 | 390 | ||
| Elevance Health Inc. | 5.200% | 2/15/2035 | 325 | 334 | ||
| Elevance Health Inc. | 5.000% | 1/15/2036 | 400 | 402 | ||
| Elevance Health Inc. | 4.625% | 5/15/2042 | 205 | 187 | ||
| Elevance Health Inc. | 4.650% | 1/15/2043 | 210 | 190 | ||
| Elevance Health Inc. | 4.650% | 8/15/2044 | 145 | 129 | ||
| Elevance Health Inc. | 4.375% | 12/1/2047 | 315 | 263 | ||
| Elevance Health Inc. | 4.550% | 3/1/2048 | 185 | 159 | ||
| Elevance Health Inc. | 3.700% | 9/15/2049 | 160 | 119 | ||
| Elevance Health Inc. | 3.125% | 5/15/2050 | 360 | 239 | ||
| Elevance Health Inc. | 3.600% | 3/15/2051 | 490 | 353 | ||
| Elevance Health Inc. | 6.100% | 10/15/2052 | 230 | 239 | ||
| Elevance Health Inc. | 5.125% | 2/15/2053 | 245 | 223 | ||
| Elevance Health Inc. | 5.650% | 6/15/2054 | 290 | 283 | ||
| Elevance Health Inc. | 5.700% | 2/15/2055 | 370 | 363 | ||
| Elevance Health Inc. | 5.850% | 11/1/2064 | 165 | 163 | ||
| Eli Lilly & Co. | 4.150% | 8/14/2027 | 555 | 559 | ||
| Eli Lilly & Co. | 4.550% | 2/12/2028 | 565 | 574 | ||
| Eli Lilly & Co. | 4.000% | 10/15/2028 | 416 | 420 | ||
| Eli Lilly & Co. | 4.500% | 2/9/2029 | 325 | 332 | ||
| Eli Lilly & Co. | 3.375% | 3/15/2029 | 331 | 328 | ||
| Eli Lilly & Co. | 4.200% | 8/14/2029 | 240 | 243 | ||
| Eli Lilly & Co. | 4.750% | 2/12/2030 | 430 | 444 | ||
| Eli Lilly & Co. | 4.250% | 3/15/2031 | 580 | 588 | ||
| Eli Lilly & Co. | 4.900% | 2/12/2032 | 200 | 208 | ||
| Eli Lilly & Co. | 4.550% | 10/15/2032 | 225 | 230 | ||
| Eli Lilly & Co. | 4.700% | 2/9/2034 | 295 | 302 | ||
| Eli Lilly & Co. | 4.600% | 8/14/2034 | 350 | 355 | ||
| Eli Lilly & Co. | 5.100% | 2/12/2035 | 275 | 287 | ||
| Eli Lilly & Co. | 4.900% | 10/15/2035 | 400 | 410 | ||
| Eli Lilly & Co. | 3.950% | 3/15/2049 | 190 | 155 | ||
| Eli Lilly & Co. | 2.250% | 5/15/2050 | 392 | 229 | ||
| Eli Lilly & Co. | 4.875% | 2/27/2053 | 275 | 253 | ||
| Eli Lilly & Co. | 5.000% | 2/9/2054 | 782 | 735 | ||
| Eli Lilly & Co. | 5.050% | 8/14/2054 | 340 | 321 | ||
| Eli Lilly & Co. | 5.500% | 2/12/2055 | 200 | 201 | ||
| Eli Lilly & Co. | 5.550% | 10/15/2055 | 225 | 229 | ||
| Eli Lilly & Co. | 2.500% | 9/15/2060 | 330 | 182 | ||
| Eli Lilly & Co. | 4.950% | 2/27/2063 | 195 | 177 | ||
| Eli Lilly & Co. | 5.100% | 2/9/2064 | 288 | 267 | ||
| Eli Lilly & Co. | 5.200% | 8/14/2064 | 475 | 448 | ||
| Eli Lilly & Co. | 5.650% | 10/15/2065 | 225 | 228 | ||
| GE HealthCare Technologies Inc. | 5.650% | 11/15/2027 | 465 | 478 | ||
| GE HealthCare Technologies Inc. | 4.800% | 8/14/2029 | 285 | 292 | ||
| GE HealthCare Technologies Inc. | 5.857% | 3/15/2030 | 260 | 276 | ||
| GE HealthCare Technologies Inc. | 5.905% | 11/22/2032 | 260 | 281 | ||
| GE HealthCare Technologies Inc. | 5.500% | 6/15/2035 | 200 | 209 | ||
| GE HealthCare Technologies Inc. | 6.377% | 11/22/2052 | 299 | 328 | ||
| Gilead Sciences Inc. | 2.950% | 3/1/2027 | 302 | 300 | ||
| Gilead Sciences Inc. | 1.200% | 10/1/2027 | 170 | 163 | ||
| Gilead Sciences Inc. | 4.800% | 11/15/2029 | 165 | 170 | ||
| Gilead Sciences Inc. | 1.650% | 10/1/2030 | 290 | 262 | ||
| Gilead Sciences Inc. | 5.250% | 10/15/2033 | 200 | 211 | ||
| Gilead Sciences Inc. | 5.100% | 6/15/2035 | 75 | 78 | ||
28
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Gilead Sciences Inc. | 4.600% | 9/1/2035 | 225 | 225 | ||
| Gilead Sciences Inc. | 4.000% | 9/1/2036 | 150 | 141 | ||
| Gilead Sciences Inc. | 2.600% | 10/1/2040 | 1,004 | 751 | ||
| Gilead Sciences Inc. | 5.650% | 12/1/2041 | 346 | 363 | ||
| Gilead Sciences Inc. | 4.800% | 4/1/2044 | 445 | 416 | ||
| Gilead Sciences Inc. | 4.500% | 2/1/2045 | 500 | 447 | ||
| Gilead Sciences Inc. | 4.750% | 3/1/2046 | 570 | 522 | ||
| Gilead Sciences Inc. | 4.150% | 3/1/2047 | 325 | 273 | ||
| Gilead Sciences Inc. | 2.800% | 10/1/2050 | 385 | 247 | ||
| Gilead Sciences Inc. | 5.550% | 10/15/2053 | 365 | 367 | ||
| Gilead Sciences Inc. | 5.500% | 11/15/2054 | 175 | 174 | ||
| Gilead Sciences Inc. | 5.600% | 11/15/2064 | 245 | 245 | ||
| GlaxoSmithKline Capital Inc. | 3.875% | 5/15/2028 | 365 | 367 | ||
| GlaxoSmithKline Capital Inc. | 4.500% | 4/15/2030 | 189 | 193 | ||
| GlaxoSmithKline Capital Inc. | 4.875% | 4/15/2035 | 245 | 250 | ||
| GlaxoSmithKline Capital Inc. | 6.375% | 5/15/2038 | 605 | 690 | ||
| GlaxoSmithKline Capital plc | 3.375% | 6/1/2029 | 90 | 89 | ||
| HCA Inc. | 3.125% | 3/15/2027 | 215 | 213 | ||
| HCA Inc. | 5.200% | 6/1/2028 | 175 | 179 | ||
| HCA Inc. | 5.625% | 9/1/2028 | 450 | 464 | ||
| HCA Inc. | 5.875% | 2/1/2029 | 440 | 458 | ||
| HCA Inc. | 4.125% | 6/15/2029 | 610 | 611 | ||
| HCA Inc. | 3.500% | 9/1/2030 | 940 | 911 | ||
| HCA Inc. | 5.450% | 4/1/2031 | 335 | 351 | ||
| HCA Inc. | 2.375% | 7/15/2031 | 165 | 149 | ||
| HCA Inc. | 5.500% | 3/1/2032 | 260 | 273 | ||
| HCA Inc. | 3.625% | 3/15/2032 | 515 | 490 | ||
| HCA Inc. | 4.600% | 11/15/2032 | 495 | 495 | ||
| HCA Inc. | 5.500% | 6/1/2033 | 600 | 628 | ||
| HCA Inc. | 5.600% | 4/1/2034 | 265 | 278 | ||
| HCA Inc. | 5.450% | 9/15/2034 | 525 | 545 | ||
| HCA Inc. | 5.750% | 3/1/2035 | 515 | 545 | ||
| HCA Inc. | 5.125% | 6/15/2039 | 205 | 200 | ||
| HCA Inc. | 5.500% | 6/15/2047 | 420 | 400 | ||
| HCA Inc. | 5.250% | 6/15/2049 | 590 | 539 | ||
| HCA Inc. | 3.500% | 7/15/2051 | 375 | 259 | ||
| HCA Inc. | 4.625% | 3/15/2052 | 450 | 373 | ||
| HCA Inc. | 5.900% | 6/1/2053 | 655 | 644 | ||
| HCA Inc. | 6.000% | 4/1/2054 | 320 | 320 | ||
| HCA Inc. | 5.950% | 9/15/2054 | 175 | 174 | ||
| HCA Inc. | 6.200% | 3/1/2055 | 360 | 369 | ||
| Humana Inc. | 3.700% | 3/23/2029 | 215 | 211 | ||
| Humana Inc. | 5.375% | 4/15/2031 | 240 | 247 | ||
| Humana Inc. | 2.150% | 2/3/2032 | 325 | 284 | ||
| Humana Inc. | 5.875% | 3/1/2033 | 185 | 194 | ||
| Humana Inc. | 5.950% | 3/15/2034 | 260 | 273 | ||
| Humana Inc. | 5.550% | 5/1/2035 | 360 | 367 | ||
| Humana Inc. | 4.950% | 10/1/2044 | 228 | 199 | ||
| Humana Inc. | 5.500% | 3/15/2053 | 160 | 144 | ||
| Humana Inc. | 5.750% | 4/15/2054 | 170 | 158 | ||
| Icon Investments Six DAC | 5.849% | 5/8/2029 | 50 | 51 | ||
| IQVIA Inc. | 6.250% | 2/1/2029 | 475 | 499 | ||
| Johnson & Johnson | 4.500% | 3/1/2027 | 124 | 125 | ||
| Johnson & Johnson | 2.950% | 3/3/2027 | 520 | 517 | ||
| Johnson & Johnson | 0.950% | 9/1/2027 | 85 | 82 | ||
| Johnson & Johnson | 2.900% | 1/15/2028 | 280 | 277 | ||
| Johnson & Johnson | 4.800% | 6/1/2029 | 422 | 437 | ||
| Johnson & Johnson | 4.700% | 3/1/2030 | 376 | 390 | ||
| Johnson & Johnson | 1.300% | 9/1/2030 | 500 | 451 | ||
| Johnson & Johnson | 4.900% | 6/1/2031 | 419 | 440 | ||
| Johnson & Johnson | 4.850% | 3/1/2032 | 266 | 279 | ||
| Johnson & Johnson | 5.000% | 3/1/2035 | 523 | 550 | ||
| Johnson & Johnson | 3.550% | 3/1/2036 | 435 | 405 | ||
| Johnson & Johnson | 3.625% | 3/3/2037 | 224 | 206 | ||
| Johnson & Johnson | 5.950% | 8/15/2037 | 165 | 185 | ||
| Johnson & Johnson | 3.400% | 1/15/2038 | 267 | 238 | ||
| Johnson & Johnson | 2.100% | 9/1/2040 | 190 | 137 | ||
| Johnson & Johnson | 3.700% | 3/1/2046 | 610 | 501 | ||
| Johnson & Johnson | 3.750% | 3/3/2047 | 290 | 236 | ||
| Johnson & Johnson | 3.500% | 1/15/2048 | 215 | 168 | ||
29
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Johnson & Johnson | 2.250% | 9/1/2050 | 390 | 234 | ||
| Johnson & Johnson | 2.450% | 9/1/2060 | 465 | 260 | ||
| Laboratory Corp. of America Holdings | 4.800% | 10/1/2034 | 325 | 325 | ||
| Laboratory Corp. of America Holdings | 4.700% | 2/1/2045 | 170 | 155 | ||
| Merck & Co. Inc. | 1.700% | 6/10/2027 | 490 | 479 | ||
| Merck & Co. Inc. | 1.900% | 12/10/2028 | 785 | 749 | ||
| Merck & Co. Inc. | 3.400% | 3/7/2029 | 775 | 768 | ||
| Merck & Co. Inc. | 3.850% | 3/15/2029 | 200 | 201 | ||
| Merck & Co. Inc. | 1.450% | 6/24/2030 | 349 | 316 | ||
| Merck & Co. Inc. | 4.150% | 3/15/2031 | 250 | 252 | ||
| Merck & Co. Inc. | 2.150% | 12/10/2031 | 550 | 497 | ||
| Merck & Co. Inc. | 4.550% | 9/15/2032 | 225 | 230 | ||
| Merck & Co. Inc. | 4.450% | 12/4/2032 | 250 | 253 | ||
| Merck & Co. Inc. | 4.500% | 5/17/2033 | 340 | 346 | ||
| Merck & Co. Inc. | 4.950% | 9/15/2035 | 425 | 436 | ||
| Merck & Co. Inc. | 4.750% | 12/4/2035 | 375 | 379 | ||
| Merck & Co. Inc. | 3.900% | 3/7/2039 | 230 | 209 | ||
| Merck & Co. Inc. | 2.350% | 6/24/2040 | 570 | 417 | ||
| Merck & Co. Inc. | 4.150% | 5/18/2043 | 330 | 290 | ||
| Merck & Co. Inc. | 4.900% | 5/17/2044 | 160 | 152 | ||
| Merck & Co. Inc. | 3.700% | 2/10/2045 | 508 | 410 | ||
| Merck & Co. Inc. | 5.500% | 3/15/2046 | 200 | 202 | ||
| Merck & Co. Inc. | 4.000% | 3/7/2049 | 235 | 191 | ||
| Merck & Co. Inc. | 2.450% | 6/24/2050 | 540 | 324 | ||
| Merck & Co. Inc. | 2.750% | 12/10/2051 | 770 | 483 | ||
| Merck & Co. Inc. | 5.000% | 5/17/2053 | 235 | 218 | ||
| Merck & Co. Inc. | 5.700% | 9/15/2055 | 300 | 306 | ||
| Merck & Co. Inc. | 5.550% | 12/4/2055 | 415 | 416 | ||
| Merck & Co. Inc. | 2.900% | 12/10/2061 | 255 | 151 | ||
| Merck & Co. Inc. | 5.150% | 5/17/2063 | 150 | 139 | ||
| Merck & Co. Inc. | 5.700% | 12/4/2065 | 480 | 482 | ||
| Mylan Inc. | 4.550% | 4/15/2028 | 200 | 201 | ||
| Novartis Capital Corp. | 3.100% | 5/17/2027 | 955 | 950 | ||
| Novartis Capital Corp. | 3.800% | 9/18/2029 | 535 | 535 | ||
| Novartis Capital Corp. | 2.200% | 8/14/2030 | 520 | 485 | ||
| Novartis Capital Corp. | 4.000% | 9/18/2031 | 75 | 75 | ||
| Novartis Capital Corp. | 4.200% | 9/18/2034 | 365 | 362 | ||
| Novartis Capital Corp. | 4.600% | 11/5/2035 | 270 | 271 | ||
| Novartis Capital Corp. | 4.400% | 5/6/2044 | 365 | 332 | ||
| Novartis Capital Corp. | 4.000% | 11/20/2045 | 405 | 346 | ||
| Novartis Capital Corp. | 2.750% | 8/14/2050 | 210 | 138 | ||
| Novartis Capital Corp. | 4.700% | 9/18/2054 | 240 | 217 | ||
| Pfizer Inc. | 3.600% | 9/15/2028 | 280 | 280 | ||
| Pfizer Inc. | 3.450% | 3/15/2029 | 490 | 486 | ||
| Pfizer Inc. | 2.625% | 4/1/2030 | 737 | 701 | ||
| Pfizer Inc. | 1.700% | 5/28/2030 | 222 | 203 | ||
| Pfizer Inc. | 1.750% | 8/18/2031 | 434 | 387 | ||
| Pfizer Inc. | 4.000% | 12/15/2036 | 510 | 483 | ||
| Pfizer Inc. | 3.900% | 3/15/2039 | 230 | 207 | ||
| Pfizer Inc. | 7.200% | 3/15/2039 | 855 | 1,032 | ||
| Pfizer Inc. | 2.550% | 5/28/2040 | 210 | 157 | ||
| Pfizer Inc. | 4.300% | 6/15/2043 | 170 | 152 | ||
| Pfizer Inc. | 4.400% | 5/15/2044 | 265 | 241 | ||
| Pfizer Inc. | 4.125% | 12/15/2046 | 520 | 436 | ||
| Pfizer Inc. | 4.200% | 9/15/2048 | 215 | 181 | ||
| Pfizer Inc. | 4.000% | 3/15/2049 | 610 | 495 | ||
| Pfizer Inc. | 2.700% | 5/28/2050 | 450 | 288 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 4.450% | 5/19/2028 | 810 | 821 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 4.650% | 5/19/2030 | 445 | 456 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 4.750% | 5/19/2033 | 1,555 | 1,587 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 5.110% | 5/19/2043 | 932 | 906 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 5.300% | 5/19/2053 | 1,305 | 1,250 | ||
| Pfizer Investment Enterprises Pte. Ltd. | 5.340% | 5/19/2063 | 935 | 877 | ||
| 2 | Providence St. Joseph Health Obligated Group | 2.700% | 10/1/2051 | 350 | 214 | |
| Quest Diagnostics Inc. | 2.950% | 6/30/2030 | 110 | 105 | ||
| Quest Diagnostics Inc. | 6.400% | 11/30/2033 | 210 | 235 | ||
| Quest Diagnostics Inc. | 5.000% | 12/15/2034 | 305 | 312 | ||
| Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/2030 | 301 | 271 | ||
| Regeneron Pharmaceuticals Inc. | 2.800% | 9/15/2050 | 185 | 115 | ||
| Revvity Inc. | 3.300% | 9/15/2029 | 270 | 262 | ||
30
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Royalty Pharma plc | 1.750% | 9/2/2027 | 145 | 140 | ||
| Royalty Pharma plc | 2.200% | 9/2/2030 | 110 | 101 | ||
| Royalty Pharma plc | 3.300% | 9/2/2040 | 145 | 114 | ||
| Royalty Pharma plc | 3.550% | 9/2/2050 | 380 | 269 | ||
| Sanofi SA | 3.625% | 6/19/2028 | 260 | 260 | ||
| Smith & Nephew plc | 2.032% | 10/14/2030 | 275 | 249 | ||
| Solventum Corp. | 5.400% | 3/1/2029 | 200 | 207 | ||
| Solventum Corp. | 5.450% | 3/13/2031 | 665 | 697 | ||
| Solventum Corp. | 5.600% | 3/23/2034 | 475 | 496 | ||
| Solventum Corp. | 5.900% | 4/30/2054 | 285 | 285 | ||
| Stryker Corp. | 4.700% | 2/10/2028 | 150 | 152 | ||
| Stryker Corp. | 4.250% | 9/11/2029 | 450 | 455 | ||
| Stryker Corp. | 4.850% | 2/10/2030 | 150 | 155 | ||
| Stryker Corp. | 1.950% | 6/15/2030 | 205 | 188 | ||
| Stryker Corp. | 4.625% | 9/11/2034 | 330 | 331 | ||
| Stryker Corp. | 5.200% | 2/10/2035 | 235 | 244 | ||
| Stryker Corp. | 4.625% | 3/15/2046 | 170 | 154 | ||
| Takeda Pharmaceutical Co. Ltd. | 5.000% | 11/26/2028 | 280 | 287 | ||
| Takeda Pharmaceutical Co. Ltd. | 2.050% | 3/31/2030 | 735 | 678 | ||
| Takeda Pharmaceutical Co. Ltd. | 5.300% | 7/5/2034 | 250 | 261 | ||
| Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/2040 | 555 | 433 | ||
| Takeda Pharmaceutical Co. Ltd. | 5.650% | 7/5/2044 | 70 | 72 | ||
| Takeda Pharmaceutical Co. Ltd. | 3.175% | 7/9/2050 | 790 | 542 | ||
| Takeda Pharmaceutical Co. Ltd. | 3.375% | 7/9/2060 | 170 | 112 | ||
| Takeda US Financing Inc. | 5.200% | 7/7/2035 | 525 | 540 | ||
| Thermo Fisher Scientific Inc. | 2.600% | 10/1/2029 | 265 | 254 | ||
| Thermo Fisher Scientific Inc. | 4.977% | 8/10/2030 | 165 | 171 | ||
| Thermo Fisher Scientific Inc. | 4.215% | 2/12/2031 | 275 | 277 | ||
| Thermo Fisher Scientific Inc. | 2.000% | 10/15/2031 | 340 | 306 | ||
| Thermo Fisher Scientific Inc. | 4.550% | 6/15/2033 | 200 | 202 | ||
| Thermo Fisher Scientific Inc. | 5.086% | 8/10/2033 | 110 | 115 | ||
| Thermo Fisher Scientific Inc. | 4.794% | 10/7/2035 | 300 | 303 | ||
| Thermo Fisher Scientific Inc. | 4.902% | 2/12/2036 | 350 | 356 | ||
| Thermo Fisher Scientific Inc. | 2.800% | 10/15/2041 | 410 | 308 | ||
| Thermo Fisher Scientific Inc. | 4.100% | 8/15/2047 | 160 | 135 | ||
| UnitedHealth Group Inc. | 5.250% | 2/15/2028 | 175 | 180 | ||
| UnitedHealth Group Inc. | 3.850% | 6/15/2028 | 243 | 243 | ||
| UnitedHealth Group Inc. | 4.250% | 1/15/2029 | 225 | 227 | ||
| UnitedHealth Group Inc. | 4.000% | 5/15/2029 | 285 | 286 | ||
| UnitedHealth Group Inc. | 2.875% | 8/15/2029 | 100 | 97 | ||
| UnitedHealth Group Inc. | 4.800% | 1/15/2030 | 360 | 370 | ||
| UnitedHealth Group Inc. | 5.300% | 2/15/2030 | 420 | 439 | ||
| UnitedHealth Group Inc. | 2.000% | 5/15/2030 | 930 | 859 | ||
| UnitedHealth Group Inc. | 4.650% | 1/15/2031 | 200 | 204 | ||
| UnitedHealth Group Inc. | 4.900% | 4/15/2031 | 330 | 341 | ||
| UnitedHealth Group Inc. | 2.300% | 5/15/2031 | 345 | 315 | ||
| UnitedHealth Group Inc. | 4.950% | 1/15/2032 | 470 | 485 | ||
| UnitedHealth Group Inc. | 4.200% | 5/15/2032 | 190 | 189 | ||
| UnitedHealth Group Inc. | 5.350% | 2/15/2033 | 480 | 504 | ||
| UnitedHealth Group Inc. | 4.500% | 4/15/2033 | 400 | 399 | ||
| UnitedHealth Group Inc. | 5.000% | 4/15/2034 | 355 | 364 | ||
| UnitedHealth Group Inc. | 5.150% | 7/15/2034 | 435 | 449 | ||
| UnitedHealth Group Inc. | 5.300% | 6/15/2035 | 255 | 266 | ||
| UnitedHealth Group Inc. | 4.625% | 7/15/2035 | 545 | 542 | ||
| UnitedHealth Group Inc. | 5.800% | 3/15/2036 | 202 | 217 | ||
| UnitedHealth Group Inc. | 6.875% | 2/15/2038 | 345 | 401 | ||
| UnitedHealth Group Inc. | 3.500% | 8/15/2039 | 310 | 260 | ||
| UnitedHealth Group Inc. | 2.750% | 5/15/2040 | 295 | 222 | ||
| UnitedHealth Group Inc. | 3.050% | 5/15/2041 | 140 | 108 | ||
| UnitedHealth Group Inc. | 4.250% | 3/15/2043 | 210 | 181 | ||
| UnitedHealth Group Inc. | 5.500% | 7/15/2044 | 535 | 533 | ||
| UnitedHealth Group Inc. | 4.750% | 7/15/2045 | 440 | 398 | ||
| UnitedHealth Group Inc. | 4.200% | 1/15/2047 | 250 | 207 | ||
| UnitedHealth Group Inc. | 3.750% | 10/15/2047 | 255 | 196 | ||
| UnitedHealth Group Inc. | 4.250% | 6/15/2048 | 250 | 206 | ||
| UnitedHealth Group Inc. | 4.450% | 12/15/2048 | 310 | 262 | ||
| UnitedHealth Group Inc. | 3.700% | 8/15/2049 | 345 | 259 | ||
| UnitedHealth Group Inc. | 2.900% | 5/15/2050 | 150 | 97 | ||
| UnitedHealth Group Inc. | 3.250% | 5/15/2051 | 380 | 259 | ||
| UnitedHealth Group Inc. | 4.750% | 5/15/2052 | 505 | 439 | ||
31
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| UnitedHealth Group Inc. | 5.875% | 2/15/2053 | 559 | 569 | ||
| UnitedHealth Group Inc. | 5.050% | 4/15/2053 | 395 | 360 | ||
| UnitedHealth Group Inc. | 5.375% | 4/15/2054 | 350 | 332 | ||
| UnitedHealth Group Inc. | 5.625% | 7/15/2054 | 520 | 512 | ||
| UnitedHealth Group Inc. | 5.950% | 6/15/2055 | 375 | 388 | ||
| UnitedHealth Group Inc. | 3.875% | 8/15/2059 | 411 | 298 | ||
| UnitedHealth Group Inc. | 3.125% | 5/15/2060 | 395 | 243 | ||
| UnitedHealth Group Inc. | 4.950% | 5/15/2062 | 240 | 210 | ||
| UnitedHealth Group Inc. | 6.050% | 2/15/2063 | 413 | 425 | ||
| UnitedHealth Group Inc. | 5.200% | 4/15/2063 | 430 | 388 | ||
| UnitedHealth Group Inc. | 5.500% | 4/15/2064 | 175 | 166 | ||
| UnitedHealth Group Inc. | 5.750% | 7/15/2064 | 570 | 560 | ||
| Utah Acquisition Sub Inc. | 5.250% | 6/15/2046 | 402 | 339 | ||
| Viatris Inc. | 2.700% | 6/22/2030 | 330 | 305 | ||
| Viatris Inc. | 3.850% | 6/22/2040 | 265 | 209 | ||
| Viatris Inc. | 4.000% | 6/22/2050 | 495 | 339 | ||
| Wyeth LLC | 6.500% | 2/1/2034 | 340 | 385 | ||
| Wyeth LLC | 5.950% | 4/1/2037 | 515 | 563 | ||
| Zimmer Biomet Holdings Inc. | 2.600% | 11/24/2031 | 180 | 164 | ||
| Zoetis Inc. | 3.000% | 9/12/2027 | 185 | 183 | ||
| Zoetis Inc. | 2.000% | 5/15/2030 | 140 | 129 | ||
| Zoetis Inc. | 5.600% | 11/16/2032 | 75 | 80 | ||
| Zoetis Inc. | 5.000% | 8/17/2035 | 460 | 469 | ||
| Zoetis Inc. | 4.700% | 2/1/2043 | 250 | 232 | ||
| 164,224 | ||||||
| Industrials (1.9%) | ||||||
| Amphenol Corp. | 4.375% | 6/12/2028 | 200 | 202 | ||
| Amphenol Corp. | 2.800% | 2/15/2030 | 210 | 201 | ||
| Amphenol Corp. | 4.125% | 11/15/2030 | 581 | 584 | ||
| Amphenol Corp. | 2.200% | 9/15/2031 | 240 | 218 | ||
| Amphenol Corp. | 5.000% | 1/15/2035 | 125 | 128 | ||
| Amphenol Corp. | 4.625% | 2/15/2036 | 500 | 497 | ||
| Amphenol Corp. | 5.300% | 11/15/2055 | 475 | 460 | ||
| Carrier Global Corp. | 2.722% | 2/15/2030 | 335 | 318 | ||
| Carrier Global Corp. | 2.700% | 2/15/2031 | 200 | 187 | ||
| Carrier Global Corp. | 5.900% | 3/15/2034 | 239 | 258 | ||
| Carrier Global Corp. | 3.377% | 4/5/2040 | 220 | 180 | ||
| Carrier Global Corp. | 3.577% | 4/5/2050 | 511 | 383 | ||
| Deere & Co. | 5.450% | 1/16/2035 | 485 | 518 | ||
| Deere & Co. | 3.900% | 6/9/2042 | 140 | 123 | ||
| Deere & Co. | 3.750% | 4/15/2050 | 200 | 160 | ||
| Deere & Co. | 5.700% | 1/19/2055 | 175 | 185 | ||
| 2 | FedEx Corp. | 4.750% | 11/15/2045 | 165 | 148 | |
| 2 | FedEx Corp. | 4.550% | 4/1/2046 | 285 | 248 | |
| 2 | FedEx Corp. | 5.250% | 5/15/2050 | 510 | 488 | |
| Illinois Tool Works Inc. | 3.900% | 9/1/2042 | 335 | 291 | ||
| 2 | John Deere Capital Corp. | 4.150% | 9/15/2027 | 195 | 196 | |
| 2 | John Deere Capital Corp. | 4.750% | 1/20/2028 | 240 | 245 | |
| 2 | John Deere Capital Corp. | 4.950% | 7/14/2028 | 335 | 344 | |
| John Deere Capital Corp. | 4.500% | 1/16/2029 | 190 | 194 | ||
| 2 | John Deere Capital Corp. | 4.850% | 6/11/2029 | 92 | 95 | |
| 2 | John Deere Capital Corp. | 4.550% | 6/5/2030 | 150 | 154 | |
| 2 | John Deere Capital Corp. | 4.700% | 6/10/2030 | 303 | 312 | |
| 2 | John Deere Capital Corp. | 4.900% | 3/7/2031 | 185 | 193 | |
| John Deere Capital Corp. | 4.400% | 9/8/2031 | 515 | 525 | ||
| 2 | John Deere Capital Corp. | 5.150% | 9/8/2033 | 365 | 386 | |
| 2 | John Deere Capital Corp. | 5.100% | 4/11/2034 | 170 | 178 | |
| 2 | John Deere Capital Corp. | 5.050% | 6/12/2034 | 150 | 156 | |
| Keysight Technologies Inc. | 5.350% | 7/30/2030 | 185 | 194 | ||
| LKQ Corp. | 5.750% | 6/15/2028 | 340 | 349 | ||
| Otis Worldwide Corp. | 5.250% | 8/16/2028 | 445 | 459 | ||
| Otis Worldwide Corp. | 2.565% | 2/15/2030 | 365 | 345 | ||
| Otis Worldwide Corp. | 3.362% | 2/15/2050 | 270 | 194 | ||
| Republic Services Inc. | 3.950% | 5/15/2028 | 215 | 216 | ||
| Republic Services Inc. | 4.875% | 4/1/2029 | 20 | 21 | ||
| Republic Services Inc. | 1.750% | 2/15/2032 | 125 | 109 | ||
| Republic Services Inc. | 5.000% | 4/1/2034 | 240 | 249 | ||
| Southwest Airlines Co. | 5.125% | 6/15/2027 | 150 | 152 | ||
| Southwest Airlines Co. | 5.250% | 11/15/2035 | 225 | 223 | ||
32
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Trane Technologies Financing Ltd. | 3.800% | 3/21/2029 | 515 | 515 | ||
| Trimble Inc. | 6.100% | 3/15/2033 | 320 | 341 | ||
| 2 | United Airlines Pass-Through Trust Class A Series 2020-1 | 5.875% | 10/15/2027 | 244 | 250 | |
| 2 | United Airlines Pass-Through Trust Class A Series 2023-1 | 5.800% | 1/15/2036 | 601 | 638 | |
| 2 | United Airlines Pass-Through Trust Class AA Series 2024-1 | 5.450% | 2/15/2037 | 442 | 462 | |
| United Parcel Service Inc. | 3.050% | 11/15/2027 | 165 | 163 | ||
| United Parcel Service Inc. | 3.400% | 3/15/2029 | 231 | 229 | ||
| United Parcel Service Inc. | 4.450% | 4/1/2030 | 182 | 186 | ||
| United Parcel Service Inc. | 4.875% | 3/3/2033 | 190 | 198 | ||
| United Parcel Service Inc. | 5.150% | 5/22/2034 | 270 | 284 | ||
| United Parcel Service Inc. | 5.250% | 5/14/2035 | 320 | 336 | ||
| United Parcel Service Inc. | 6.200% | 1/15/2038 | 440 | 494 | ||
| United Parcel Service Inc. | 3.750% | 11/15/2047 | 210 | 165 | ||
| United Parcel Service Inc. | 4.250% | 3/15/2049 | 108 | 90 | ||
| United Parcel Service Inc. | 5.300% | 4/1/2050 | 515 | 501 | ||
| United Parcel Service Inc. | 5.050% | 3/3/2053 | 314 | 291 | ||
| United Parcel Service Inc. | 5.500% | 5/22/2054 | 140 | 138 | ||
| United Parcel Service Inc. | 5.950% | 5/14/2055 | 180 | 189 | ||
| United Parcel Service Inc. | 6.050% | 5/14/2065 | 290 | 304 | ||
| Waste Management Inc. | 3.150% | 11/15/2027 | 395 | 392 | ||
| Waste Management Inc. | 4.500% | 3/15/2028 | 175 | 178 | ||
| Waste Management Inc. | 4.875% | 2/15/2029 | 210 | 216 | ||
| Waste Management Inc. | 1.500% | 3/15/2031 | 275 | 244 | ||
| Waste Management Inc. | 4.950% | 7/3/2031 | 100 | 104 | ||
| Waste Management Inc. | 4.800% | 3/15/2032 | 200 | 207 | ||
| Waste Management Inc. | 4.150% | 4/15/2032 | 20 | 20 | ||
| Waste Management Inc. | 4.875% | 2/15/2034 | 280 | 290 | ||
| Waste Management Inc. | 4.950% | 3/15/2035 | 265 | 272 | ||
| Waste Management Inc. | 5.350% | 10/15/2054 | 395 | 390 | ||
| Westinghouse Air Brake Technologies Corp. | 4.700% | 9/15/2028 | 210 | 213 | ||
| Westinghouse Air Brake Technologies Corp. | 5.500% | 5/29/2035 | 225 | 237 | ||
| WW Grainger Inc. | 4.600% | 6/15/2045 | 240 | 222 | ||
| 20,025 | ||||||
| Materials (1.1%) | ||||||
| Air Products and Chemicals Inc. | 4.600% | 2/8/2029 | 145 | 148 | ||
| Air Products and Chemicals Inc. | 4.850% | 2/8/2034 | 370 | 380 | ||
| Air Products and Chemicals Inc. | 2.700% | 5/15/2040 | 240 | 184 | ||
| Amcor Flexibles North America Inc. | 5.500% | 3/17/2035 | 225 | 237 | ||
| AngloGold Ashanti Holdings plc | 3.375% | 11/1/2028 | 175 | 170 | ||
| ArcelorMittal SA | 6.800% | 11/29/2032 | 150 | 170 | ||
| Berry Global Inc. | 5.650% | 1/15/2034 | 315 | 333 | ||
| Carlisle Cos. Inc. | 2.750% | 3/1/2030 | 135 | 128 | ||
| CF Industries Inc. | 5.150% | 3/15/2034 | 300 | 305 | ||
| CF Industries Inc. | 5.300% | 11/26/2035 | 250 | 254 | ||
| CF Industries Inc. | 4.950% | 6/1/2043 | 130 | 119 | ||
| CF Industries Inc. | 5.375% | 3/15/2044 | 225 | 215 | ||
| CRH America Finance Inc. | 5.400% | 5/21/2034 | 220 | 230 | ||
| CRH America Finance Inc. | 5.500% | 1/9/2035 | 350 | 368 | ||
| CRH America Finance Inc. | 5.000% | 2/9/2036 | 450 | 455 | ||
| CRH SMW Finance DAC | 5.200% | 5/21/2029 | 175 | 181 | ||
| CRH SMW Finance DAC | 5.125% | 1/9/2030 | 200 | 207 | ||
| Eagle Materials Inc. | 2.500% | 7/1/2031 | 160 | 147 | ||
| Eagle Materials Inc. | 5.000% | 3/15/2036 | 140 | 139 | ||
| Martin Marietta Materials Inc. | 5.150% | 12/1/2034 | 175 | 181 | ||
| Martin Marietta Materials Inc. | 3.200% | 7/15/2051 | 385 | 261 | ||
| Martin Marietta Materials Inc. | 5.500% | 12/1/2054 | 285 | 280 | ||
| Newmont Corp. | 2.600% | 7/15/2032 | 175 | 161 | ||
| Newmont Corp. | 5.350% | 3/15/2034 | 730 | 772 | ||
| Nutrien Ltd. | 4.900% | 3/27/2028 | 350 | 356 | ||
| Nutrien Ltd. | 4.200% | 4/1/2029 | 705 | 708 | ||
| Nutrien Ltd. | 5.000% | 4/1/2049 | 94 | 86 | ||
| Nutrien Ltd. | 5.800% | 3/27/2053 | 485 | 494 | ||
| Sherwin-Williams Co. | 3.450% | 6/1/2027 | 550 | 547 | ||
| Sherwin-Williams Co. | 2.950% | 8/15/2029 | 119 | 115 | ||
| Sherwin-Williams Co. | 4.500% | 6/1/2047 | 441 | 381 | ||
| Smurfit Kappa Treasury ULC | 5.438% | 4/3/2034 | 270 | 281 | ||
| Smurfit Kappa Treasury ULC | 5.777% | 4/3/2054 | 595 | 602 | ||
| Suzano Austria GmbH | 6.000% | 1/15/2029 | 325 | 337 | ||
| Suzano Austria GmbH | 5.000% | 1/15/2030 | 175 | 176 | ||
33
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Suzano Austria GmbH | 3.750% | 1/15/2031 | 520 | 496 | ||
| Suzano Austria GmbH | 3.125% | 1/15/2032 | 270 | 245 | ||
| Suzano Netherlands BV | 5.500% | 1/15/2036 | 300 | 302 | ||
| Vulcan Materials Co. | 3.500% | 6/1/2030 | 240 | 235 | ||
| Vulcan Materials Co. | 5.350% | 12/1/2034 | 225 | 235 | ||
| Vulcan Materials Co. | 5.700% | 12/1/2054 | 165 | 166 | ||
| WRKCo Inc. | 4.900% | 3/15/2029 | 445 | 455 | ||
| 12,242 | ||||||
| Real Estate (1.8%) | ||||||
| Alexandria Real Estate Equities Inc. | 3.375% | 8/15/2031 | 88 | 83 | ||
| Alexandria Real Estate Equities Inc. | 2.000% | 5/18/2032 | 211 | 181 | ||
| Alexandria Real Estate Equities Inc. | 1.875% | 2/1/2033 | 383 | 318 | ||
| Alexandria Real Estate Equities Inc. | 2.950% | 3/15/2034 | 220 | 191 | ||
| Alexandria Real Estate Equities Inc. | 5.250% | 3/15/2036 | 54 | 54 | ||
| Alexandria Real Estate Equities Inc. | 3.550% | 3/15/2052 | 125 | 90 | ||
| American Tower Corp. | 3.550% | 7/15/2027 | 125 | 124 | ||
| American Tower Corp. | 5.800% | 11/15/2028 | 260 | 272 | ||
| American Tower Corp. | 3.800% | 8/15/2029 | 290 | 287 | ||
| American Tower Corp. | 2.900% | 1/15/2030 | 65 | 62 | ||
| American Tower Corp. | 4.900% | 3/15/2030 | 45 | 46 | ||
| American Tower Corp. | 2.100% | 6/15/2030 | 205 | 188 | ||
| American Tower Corp. | 1.875% | 10/15/2030 | 365 | 329 | ||
| American Tower Corp. | 5.650% | 3/15/2033 | 130 | 138 | ||
| American Tower Corp. | 5.550% | 7/15/2033 | 50 | 53 | ||
| American Tower Corp. | 5.900% | 11/15/2033 | 195 | 210 | ||
| American Tower Corp. | 3.100% | 6/15/2050 | 485 | 325 | ||
| American Tower Corp. | 2.950% | 1/15/2051 | 325 | 210 | ||
| Boston Properties LP | 6.750% | 12/1/2027 | 105 | 110 | ||
| Boston Properties LP | 4.500% | 12/1/2028 | 535 | 540 | ||
| Boston Properties LP | 3.400% | 6/21/2029 | 183 | 178 | ||
| Boston Properties LP | 3.250% | 1/30/2031 | 190 | 179 | ||
| Boston Properties LP | 2.550% | 4/1/2032 | 210 | 185 | ||
| Boston Properties LP | 2.450% | 10/1/2033 | 130 | 108 | ||
| Boston Properties LP | 6.500% | 1/15/2034 | 110 | 118 | ||
| Boston Properties LP | 5.750% | 1/15/2035 | 340 | 346 | ||
| Brixmor Operating Partnership LP | 4.125% | 5/15/2029 | 390 | 391 | ||
| Brixmor Operating Partnership LP | 4.050% | 7/1/2030 | 175 | 173 | ||
| Camden Property Trust | 2.800% | 5/15/2030 | 235 | 223 | ||
| CBRE Services Inc. | 5.950% | 8/15/2034 | 350 | 374 | ||
| Crown Castle Inc. | 2.900% | 3/15/2027 | 120 | 119 | ||
| Crown Castle Inc. | 3.650% | 9/1/2027 | 350 | 348 | ||
| Crown Castle Inc. | 5.000% | 1/11/2028 | 185 | 188 | ||
| Crown Castle Inc. | 3.800% | 2/15/2028 | 405 | 403 | ||
| Crown Castle Inc. | 5.600% | 6/1/2029 | 120 | 125 | ||
| Crown Castle Inc. | 3.300% | 7/1/2030 | 275 | 263 | ||
| Crown Castle Inc. | 2.250% | 1/15/2031 | 150 | 136 | ||
| Crown Castle Inc. | 2.100% | 4/1/2031 | 175 | 156 | ||
| Crown Castle Inc. | 2.500% | 7/15/2031 | 337 | 305 | ||
| Crown Castle Inc. | 5.100% | 5/1/2033 | 190 | 194 | ||
| Crown Castle Inc. | 5.800% | 3/1/2034 | 110 | 117 | ||
| Crown Castle Inc. | 2.900% | 4/1/2041 | 250 | 186 | ||
| Crown Castle Inc. | 3.250% | 1/15/2051 | 250 | 168 | ||
| Digital Realty Trust LP | 3.700% | 8/15/2027 | 185 | 184 | ||
| Digital Realty Trust LP | 5.550% | 1/15/2028 | 265 | 273 | ||
| Digital Realty Trust LP | 3.600% | 7/1/2029 | 210 | 207 | ||
| 1 | Equinix Europe 2 Financing Corp. LLC | 4.700% | 3/15/2033 | 200 | 201 | |
| Equinix Europe 2 Financing Corp. LLC | 5.500% | 6/15/2034 | 185 | 193 | ||
| Equinix Inc. | 3.200% | 11/18/2029 | 350 | 338 | ||
| Equinix Inc. | 2.150% | 7/15/2030 | 164 | 150 | ||
| Equinix Inc. | 2.500% | 5/15/2031 | 200 | 182 | ||
| Equinix Inc. | 3.900% | 4/15/2032 | 713 | 690 | ||
| ERP Operating LP | 4.500% | 7/1/2044 | 175 | 159 | ||
| Extra Space Storage LP | 5.700% | 4/1/2028 | 135 | 139 | ||
| Extra Space Storage LP | 5.500% | 7/1/2030 | 203 | 212 | ||
| Healthcare Realty Holdings LP | 2.000% | 3/15/2031 | 115 | 102 | ||
| Healthpeak OP LLC | 3.000% | 1/15/2030 | 235 | 225 | ||
| Healthpeak OP LLC | 5.250% | 12/15/2032 | 160 | 165 | ||
| 2 | Host Hotels & Resorts LP | 3.500% | 9/15/2030 | 520 | 499 | |
| Prologis LP | 4.875% | 6/15/2028 | 140 | 143 | ||
34
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Prologis LP | 2.250% | 4/15/2030 | 265 | 248 | ||
| Prologis LP | 1.250% | 10/15/2030 | 81 | 72 | ||
| Prologis LP | 4.750% | 6/15/2033 | 395 | 402 | ||
| Prologis LP | 5.125% | 1/15/2034 | 230 | 238 | ||
| Prologis LP | 5.000% | 3/15/2034 | 431 | 442 | ||
| Prologis LP | 5.250% | 5/15/2035 | 411 | 428 | ||
| Prologis LP | 5.250% | 6/15/2053 | 175 | 169 | ||
| Prologis LP | 5.250% | 3/15/2054 | 145 | 140 | ||
| Public Storage Operating Co. | 5.350% | 8/1/2053 | 225 | 220 | ||
| Realty Income Corp. | 3.250% | 1/15/2031 | 195 | 187 | ||
| Realty Income Corp. | 5.625% | 10/13/2032 | 150 | 160 | ||
| Realty Income Corp. | 5.125% | 2/15/2034 | 140 | 145 | ||
| Sabra Health Care LP | 3.200% | 12/1/2031 | 539 | 499 | ||
| Simon Property Group LP | 3.375% | 6/15/2027 | 70 | 70 | ||
| Simon Property Group LP | 3.375% | 12/1/2027 | 365 | 363 | ||
| Simon Property Group LP | 1.750% | 2/1/2028 | 130 | 125 | ||
| Simon Property Group LP | 2.450% | 9/13/2029 | 500 | 475 | ||
| Simon Property Group LP | 2.650% | 7/15/2030 | 160 | 151 | ||
| Simon Property Group LP | 4.750% | 9/26/2034 | 220 | 221 | ||
| Simon Property Group LP | 5.125% | 10/1/2035 | 250 | 256 | ||
| Simon Property Group LP | 3.250% | 9/13/2049 | 368 | 259 | ||
| Simon Property Group LP | 3.800% | 7/15/2050 | 265 | 204 | ||
| Sun Communities Operating LP | 2.700% | 7/15/2031 | 115 | 106 | ||
| Ventas Realty LP | 4.400% | 1/15/2029 | 280 | 283 | ||
| Welltower OP LLC | 4.250% | 4/15/2028 | 320 | 323 | ||
| Welltower OP LLC | 3.100% | 1/15/2030 | 185 | 179 | ||
| Welltower OP LLC | 2.800% | 6/1/2031 | 95 | 89 | ||
| 19,310 | ||||||
| Technology (12.1%) | ||||||
| Accenture Capital Inc. | 3.900% | 10/4/2027 | 250 | 251 | ||
| Accenture Capital Inc. | 4.050% | 10/4/2029 | 365 | 367 | ||
| Accenture Capital Inc. | 4.250% | 10/4/2031 | 70 | 70 | ||
| Accenture Capital Inc. | 4.500% | 10/4/2034 | 350 | 346 | ||
| Adobe Inc. | 4.750% | 1/17/2028 | 125 | 127 | ||
| Adobe Inc. | 4.800% | 4/4/2029 | 170 | 174 | ||
| Adobe Inc. | 2.300% | 2/1/2030 | 260 | 244 | ||
| Adobe Inc. | 4.950% | 4/4/2034 | 185 | 189 | ||
| Apple Inc. | 3.200% | 5/11/2027 | 590 | 588 | ||
| Apple Inc. | 3.000% | 6/20/2027 | 325 | 323 | ||
| Apple Inc. | 2.900% | 9/12/2027 | 630 | 624 | ||
| Apple Inc. | 3.000% | 11/13/2027 | 304 | 302 | ||
| Apple Inc. | 1.200% | 2/8/2028 | 760 | 727 | ||
| Apple Inc. | 4.000% | 5/10/2028 | 540 | 545 | ||
| Apple Inc. | 4.000% | 5/12/2028 | 275 | 277 | ||
| Apple Inc. | 1.400% | 8/5/2028 | 570 | 542 | ||
| Apple Inc. | 3.250% | 8/8/2029 | 200 | 198 | ||
| Apple Inc. | 2.200% | 9/11/2029 | 580 | 553 | ||
| Apple Inc. | 1.650% | 5/11/2030 | 460 | 422 | ||
| Apple Inc. | 4.200% | 5/12/2030 | 200 | 203 | ||
| Apple Inc. | 1.250% | 8/20/2030 | 320 | 287 | ||
| Apple Inc. | 1.650% | 2/8/2031 | 785 | 711 | ||
| Apple Inc. | 1.700% | 8/5/2031 | 145 | 130 | ||
| Apple Inc. | 4.500% | 5/12/2032 | 125 | 129 | ||
| Apple Inc. | 3.350% | 8/8/2032 | 430 | 417 | ||
| Apple Inc. | 4.300% | 5/10/2033 | 125 | 128 | ||
| Apple Inc. | 4.750% | 5/12/2035 | 205 | 212 | ||
| Apple Inc. | 4.500% | 2/23/2036 | 288 | 295 | ||
| Apple Inc. | 2.375% | 2/8/2041 | 205 | 150 | ||
| Apple Inc. | 3.850% | 5/4/2043 | 595 | 510 | ||
| Apple Inc. | 4.450% | 5/6/2044 | 330 | 306 | ||
| Apple Inc. | 3.450% | 2/9/2045 | 715 | 565 | ||
| Apple Inc. | 4.375% | 5/13/2045 | 600 | 542 | ||
| Apple Inc. | 4.650% | 2/23/2046 | 820 | 764 | ||
| Apple Inc. | 3.850% | 8/4/2046 | 550 | 453 | ||
| Apple Inc. | 4.250% | 2/9/2047 | 350 | 304 | ||
| Apple Inc. | 3.750% | 9/12/2047 | 320 | 257 | ||
| Apple Inc. | 3.750% | 11/13/2047 | 225 | 181 | ||
| Apple Inc. | 2.950% | 9/11/2049 | 400 | 273 | ||
| Apple Inc. | 2.650% | 5/11/2050 | 760 | 483 | ||
35
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Apple Inc. | 2.400% | 8/20/2050 | 280 | 168 | ||
| Apple Inc. | 2.650% | 2/8/2051 | 670 | 422 | ||
| Apple Inc. | 2.700% | 8/5/2051 | 265 | 168 | ||
| Apple Inc. | 3.950% | 8/8/2052 | 520 | 418 | ||
| Apple Inc. | 4.850% | 5/10/2053 | 400 | 383 | ||
| Apple Inc. | 2.550% | 8/20/2060 | 909 | 511 | ||
| Apple Inc. | 2.800% | 2/8/2061 | 465 | 277 | ||
| Apple Inc. | 2.850% | 8/5/2061 | 380 | 228 | ||
| Apple Inc. | 4.100% | 8/8/2062 | 175 | 139 | ||
| Applied Materials Inc. | 3.300% | 4/1/2027 | 251 | 250 | ||
| Applied Materials Inc. | 1.750% | 6/1/2030 | 80 | 73 | ||
| Applied Materials Inc. | 4.350% | 4/1/2047 | 215 | 190 | ||
| Applied Materials Inc. | 2.750% | 6/1/2050 | 325 | 215 | ||
| Autodesk Inc. | 2.400% | 12/15/2031 | 205 | 184 | ||
| Automatic Data Processing Inc. | 1.700% | 5/15/2028 | 185 | 177 | ||
| Automatic Data Processing Inc. | 1.250% | 9/1/2030 | 215 | 192 | ||
| Automatic Data Processing Inc. | 4.750% | 5/8/2032 | 355 | 366 | ||
| Automatic Data Processing Inc. | 4.450% | 9/9/2034 | 415 | 414 | ||
| Broadcom Inc. | 5.050% | 7/12/2027 | 104 | 106 | ||
| Broadcom Inc. | 1.950% | 2/15/2028 | 110 | 106 | ||
| Broadcom Inc. | 4.800% | 4/15/2028 | 465 | 474 | ||
| 3 | Broadcom Inc. | 4.000% | 4/15/2029 | 355 | 356 | |
| Broadcom Inc. | 5.050% | 7/12/2029 | 1,044 | 1,079 | ||
| Broadcom Inc. | 4.350% | 2/15/2030 | 510 | 516 | ||
| Broadcom Inc. | 5.050% | 4/15/2030 | 230 | 238 | ||
| Broadcom Inc. | 4.200% | 10/15/2030 | 65 | 65 | ||
| Broadcom Inc. | 4.150% | 11/15/2030 | 910 | 913 | ||
| Broadcom Inc. | 4.300% | 1/15/2031 | 460 | 464 | ||
| Broadcom Inc. | 2.450% | 2/15/2031 | 580 | 536 | ||
| Broadcom Inc. | 5.150% | 11/15/2031 | 450 | 471 | ||
| 2 | Broadcom Inc. | 4.550% | 2/15/2032 | 125 | 127 | |
| 3 | Broadcom Inc. | 4.150% | 4/15/2032 | 400 | 396 | |
| Broadcom Inc. | 5.200% | 4/15/2032 | 375 | 392 | ||
| Broadcom Inc. | 4.300% | 11/15/2032 | 690 | 688 | ||
| Broadcom Inc. | 4.600% | 1/15/2033 | 455 | 460 | ||
| Broadcom Inc. | 2.600% | 2/15/2033 | 435 | 387 | ||
| Broadcom Inc. | 3.419% | 4/15/2033 | 583 | 546 | ||
| Broadcom Inc. | 3.469% | 4/15/2034 | 880 | 813 | ||
| Broadcom Inc. | 4.800% | 10/15/2034 | 340 | 343 | ||
| Broadcom Inc. | 5.200% | 7/15/2035 | 820 | 847 | ||
| 3 | Broadcom Inc. | 3.137% | 11/15/2035 | 615 | 537 | |
| Broadcom Inc. | 4.950% | 1/15/2036 | 325 | 329 | ||
| Broadcom Inc. | 4.800% | 2/15/2036 | 435 | 436 | ||
| 3 | Broadcom Inc. | 3.187% | 11/15/2036 | 1,010 | 871 | |
| 3 | Broadcom Inc. | 4.926% | 5/15/2037 | 422 | 422 | |
| Broadcom Inc. | 4.900% | 2/15/2038 | 375 | 373 | ||
| Broadcom Inc. | 3.500% | 2/15/2041 | 1,055 | 874 | ||
| Broadcom Inc. | 3.750% | 2/15/2051 | 705 | 544 | ||
| Broadcom Inc. | 5.700% | 1/15/2056 | 325 | 334 | ||
| Broadridge Financial Solutions Inc. | 2.900% | 12/1/2029 | 355 | 336 | ||
| Broadridge Financial Solutions Inc. | 2.600% | 5/1/2031 | 250 | 227 | ||
| Cadence Design Systems Inc. | 4.300% | 9/10/2029 | 360 | 364 | ||
| Cadence Design Systems Inc. | 4.700% | 9/10/2034 | 95 | 96 | ||
| CDW LLC | 3.569% | 12/1/2031 | 205 | 192 | ||
| Cintas Corp. No. 2 | 3.700% | 4/1/2027 | 215 | 215 | ||
| Cisco Systems Inc. | 4.550% | 2/24/2028 | 467 | 475 | ||
| Cisco Systems Inc. | 4.850% | 2/26/2029 | 1,015 | 1,045 | ||
| Cisco Systems Inc. | 4.750% | 2/24/2030 | 247 | 255 | ||
| Cisco Systems Inc. | 4.950% | 2/26/2031 | 810 | 843 | ||
| Cisco Systems Inc. | 4.950% | 2/24/2032 | 267 | 278 | ||
| Cisco Systems Inc. | 5.050% | 2/26/2034 | 935 | 971 | ||
| Cisco Systems Inc. | 5.100% | 2/24/2035 | 196 | 204 | ||
| Cisco Systems Inc. | 5.900% | 2/15/2039 | 605 | 662 | ||
| Cisco Systems Inc. | 5.500% | 1/15/2040 | 390 | 409 | ||
| Cisco Systems Inc. | 5.300% | 2/26/2054 | 465 | 452 | ||
| Cisco Systems Inc. | 5.500% | 2/24/2055 | 215 | 216 | ||
| Cisco Systems Inc. | 5.350% | 2/26/2064 | 300 | 287 | ||
| Concentrix Corp. | 6.600% | 8/2/2028 | 570 | 572 | ||
| Corning Inc. | 4.375% | 11/15/2057 | 360 | 301 | ||
| Corning Inc. | 5.450% | 11/15/2079 | 290 | 273 | ||
36
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Dell International LLC | 5.250% | 2/1/2028 | 100 | 102 | ||
| Dell International LLC | 4.750% | 4/1/2028 | 97 | 99 | ||
| Dell International LLC | 5.300% | 10/1/2029 | 290 | 301 | ||
| Dell International LLC | 5.000% | 4/1/2030 | 85 | 87 | ||
| Dell International LLC | 4.500% | 2/15/2031 | 185 | 186 | ||
| Dell International LLC | 5.300% | 4/1/2032 | 331 | 344 | ||
| Dell International LLC | 4.750% | 10/6/2032 | 190 | 191 | ||
| Dell International LLC | 5.750% | 2/1/2033 | 340 | 361 | ||
| Dell International LLC | 5.400% | 4/15/2034 | 250 | 259 | ||
| Dell International LLC | 4.850% | 2/1/2035 | 155 | 154 | ||
| Dell International LLC | 5.500% | 4/1/2035 | 390 | 405 | ||
| Dell International LLC | 5.100% | 2/15/2036 | 225 | 226 | ||
| Dell International LLC | 8.100% | 7/15/2036 | 335 | 407 | ||
| Dell International LLC | 3.375% | 12/15/2041 | 205 | 159 | ||
| Equifax Inc. | 5.100% | 12/15/2027 | 205 | 209 | ||
| Equifax Inc. | 2.350% | 9/15/2031 | 375 | 336 | ||
| Fidelity National Information Services Inc. | 1.650% | 3/1/2028 | 250 | 239 | ||
| Fidelity National Information Services Inc. | 2.250% | 3/1/2031 | 235 | 212 | ||
| Fidelity National Information Services Inc. | 5.100% | 7/15/2032 | 80 | 81 | ||
| Fidelity National Information Services Inc. | 3.100% | 3/1/2041 | 370 | 273 | ||
| Fiserv Inc. | 5.150% | 3/15/2027 | 160 | 162 | ||
| Fiserv Inc. | 2.250% | 6/1/2027 | 602 | 588 | ||
| Fiserv Inc. | 5.450% | 3/2/2028 | 180 | 184 | ||
| Fiserv Inc. | 4.200% | 10/1/2028 | 270 | 270 | ||
| Fiserv Inc. | 3.500% | 7/1/2029 | 485 | 471 | ||
| Fiserv Inc. | 4.750% | 3/15/2030 | 219 | 221 | ||
| Fiserv Inc. | 2.650% | 6/1/2030 | 575 | 533 | ||
| Fiserv Inc. | 4.550% | 2/15/2031 | 255 | 254 | ||
| Fiserv Inc. | 5.600% | 3/2/2033 | 190 | 196 | ||
| Fiserv Inc. | 5.625% | 8/21/2033 | 330 | 342 | ||
| Fiserv Inc. | 5.450% | 3/15/2034 | 190 | 194 | ||
| Fiserv Inc. | 5.150% | 8/12/2034 | 535 | 533 | ||
| Fiserv Inc. | 4.400% | 7/1/2049 | 462 | 366 | ||
| Hewlett Packard Enterprise Co. | 4.400% | 9/25/2027 | 255 | 256 | ||
| Hewlett Packard Enterprise Co. | 4.550% | 10/15/2029 | 500 | 506 | ||
| Hewlett Packard Enterprise Co. | 4.400% | 10/15/2030 | 90 | 90 | ||
| Hewlett Packard Enterprise Co. | 4.850% | 10/15/2031 | 245 | 249 | ||
| Hewlett Packard Enterprise Co. | 5.000% | 10/15/2034 | 510 | 504 | ||
| Hewlett Packard Enterprise Co. | 6.350% | 10/15/2045 | 444 | 456 | ||
| Hewlett Packard Enterprise Co. | 5.600% | 10/15/2054 | 350 | 322 | ||
| HP Inc. | 3.000% | 6/17/2027 | 275 | 272 | ||
| HP Inc. | 4.750% | 1/15/2028 | 445 | 450 | ||
| HP Inc. | 4.000% | 4/15/2029 | 135 | 134 | ||
| HP Inc. | 2.650% | 6/17/2031 | 270 | 245 | ||
| HP Inc. | 5.500% | 1/15/2033 | 280 | 288 | ||
| HP Inc. | 6.000% | 9/15/2041 | 303 | 304 | ||
| IBM International Capital Pte. Ltd. | 4.900% | 2/5/2034 | 320 | 324 | ||
| IBM International Capital Pte. Ltd. | 5.250% | 2/5/2044 | 110 | 106 | ||
| IBM International Capital Pte. Ltd. | 5.300% | 2/5/2054 | 375 | 349 | ||
| Intel Corp. | 3.750% | 3/25/2027 | 310 | 309 | ||
| Intel Corp. | 3.150% | 5/11/2027 | 225 | 223 | ||
| Intel Corp. | 3.750% | 8/5/2027 | 760 | 757 | ||
| Intel Corp. | 4.875% | 2/10/2028 | 430 | 437 | ||
| Intel Corp. | 1.600% | 8/12/2028 | 215 | 203 | ||
| Intel Corp. | 4.000% | 8/5/2029 | 130 | 130 | ||
| Intel Corp. | 2.450% | 11/15/2029 | 505 | 476 | ||
| Intel Corp. | 5.125% | 2/10/2030 | 250 | 258 | ||
| Intel Corp. | 3.900% | 3/25/2030 | 305 | 301 | ||
| Intel Corp. | 2.000% | 8/12/2031 | 210 | 186 | ||
| Intel Corp. | 4.150% | 8/5/2032 | 230 | 225 | ||
| Intel Corp. | 4.000% | 12/15/2032 | 280 | 270 | ||
| Intel Corp. | 5.200% | 2/10/2033 | 585 | 603 | ||
| Intel Corp. | 5.150% | 2/21/2034 | 305 | 311 | ||
| Intel Corp. | 4.600% | 3/25/2040 | 355 | 323 | ||
| Intel Corp. | 2.800% | 8/12/2041 | 270 | 192 | ||
| Intel Corp. | 4.800% | 10/1/2041 | 155 | 140 | ||
| Intel Corp. | 5.625% | 2/10/2043 | 255 | 250 | ||
| Intel Corp. | 4.900% | 7/29/2045 | 350 | 307 | ||
| Intel Corp. | 4.100% | 5/19/2046 | 230 | 179 | ||
| Intel Corp. | 4.100% | 5/11/2047 | 155 | 120 | ||
37
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Intel Corp. | 3.734% | 12/8/2047 | 355 | 257 | ||
| Intel Corp. | 3.250% | 11/15/2049 | 555 | 363 | ||
| Intel Corp. | 4.750% | 3/25/2050 | 625 | 520 | ||
| Intel Corp. | 3.050% | 8/12/2051 | 315 | 198 | ||
| Intel Corp. | 4.900% | 8/5/2052 | 410 | 346 | ||
| Intel Corp. | 5.700% | 2/10/2053 | 440 | 417 | ||
| Intel Corp. | 5.600% | 2/21/2054 | 185 | 174 | ||
| Intel Corp. | 3.100% | 2/15/2060 | 380 | 217 | ||
| Intel Corp. | 4.950% | 3/25/2060 | 240 | 199 | ||
| Intel Corp. | 3.200% | 8/12/2061 | 320 | 185 | ||
| Intel Corp. | 5.050% | 8/5/2062 | 415 | 345 | ||
| Intel Corp. | 5.900% | 2/10/2063 | 265 | 254 | ||
| International Business Machines Corp. | 1.700% | 5/15/2027 | 290 | 283 | ||
| International Business Machines Corp. | 4.150% | 7/27/2027 | 350 | 352 | ||
| International Business Machines Corp. | 4.500% | 2/6/2028 | 295 | 299 | ||
| International Business Machines Corp. | 3.500% | 5/15/2029 | 660 | 650 | ||
| 2 | International Business Machines Corp. | 4.800% | 2/10/2030 | 190 | 195 | |
| International Business Machines Corp. | 1.950% | 5/15/2030 | 275 | 252 | ||
| International Business Machines Corp. | 4.400% | 7/27/2032 | 460 | 460 | ||
| International Business Machines Corp. | 4.750% | 2/6/2033 | 450 | 458 | ||
| 2 | International Business Machines Corp. | 5.200% | 2/10/2035 | 325 | 335 | |
| International Business Machines Corp. | 4.950% | 2/3/2036 | 250 | 249 | ||
| International Business Machines Corp. | 4.150% | 5/15/2039 | 779 | 699 | ||
| International Business Machines Corp. | 4.000% | 6/20/2042 | 145 | 122 | ||
| International Business Machines Corp. | 4.250% | 5/15/2049 | 735 | 594 | ||
| International Business Machines Corp. | 2.950% | 5/15/2050 | 410 | 265 | ||
| International Business Machines Corp. | 4.900% | 7/27/2052 | 310 | 274 | ||
| International Business Machines Corp. | 5.800% | 2/3/2056 | 175 | 175 | ||
| Intuit Inc. | 5.125% | 9/15/2028 | 95 | 98 | ||
| Intuit Inc. | 5.200% | 9/15/2033 | 215 | 222 | ||
| Intuit Inc. | 5.500% | 9/15/2053 | 335 | 317 | ||
| KLA Corp. | 4.100% | 3/15/2029 | 195 | 196 | ||
| KLA Corp. | 4.650% | 7/15/2032 | 450 | 461 | ||
| KLA Corp. | 3.300% | 3/1/2050 | 200 | 142 | ||
| KLA Corp. | 4.950% | 7/15/2052 | 380 | 352 | ||
| KLA Corp. | 5.250% | 7/15/2062 | 135 | 127 | ||
| Lam Research Corp. | 4.000% | 3/15/2029 | 320 | 321 | ||
| Lam Research Corp. | 1.900% | 6/15/2030 | 135 | 124 | ||
| Lam Research Corp. | 4.875% | 3/15/2049 | 165 | 154 | ||
| Lam Research Corp. | 2.875% | 6/15/2050 | 300 | 198 | ||
| Marvell Technology Inc. | 2.950% | 4/15/2031 | 180 | 168 | ||
| Microchip Technology Inc. | 4.900% | 3/15/2028 | 225 | 229 | ||
| Microchip Technology Inc. | 5.050% | 3/15/2029 | 585 | 601 | ||
| Microchip Technology Inc. | 5.050% | 2/15/2030 | 125 | 128 | ||
| Micron Technology Inc. | 5.300% | 1/15/2031 | 265 | 278 | ||
| Micron Technology Inc. | 2.703% | 4/15/2032 | 270 | 247 | ||
| Micron Technology Inc. | 5.875% | 2/9/2033 | 120 | 129 | ||
| Micron Technology Inc. | 5.875% | 9/15/2033 | 295 | 317 | ||
| Micron Technology Inc. | 5.800% | 1/15/2035 | 175 | 187 | ||
| Micron Technology Inc. | 6.050% | 11/1/2035 | 380 | 413 | ||
| Microsoft Corp. | 3.500% | 2/12/2035 | 325 | 308 | ||
| Microsoft Corp. | 3.450% | 8/8/2036 | 810 | 748 | ||
| Microsoft Corp. | 4.100% | 2/6/2037 | 177 | 173 | ||
| Microsoft Corp. | 4.450% | 11/3/2045 | 300 | 278 | ||
| Microsoft Corp. | 3.700% | 8/8/2046 | 456 | 371 | ||
| Microsoft Corp. | 4.250% | 2/6/2047 | 340 | 302 | ||
| 4 | Microsoft Corp. | 2.525% | 6/1/2050 | 1,295 | 803 | |
| Microsoft Corp. | 2.500% | 9/15/2050 | 575 | 356 | ||
| Microsoft Corp. | 2.921% | 3/17/2052 | 1,179 | 784 | ||
| Microsoft Corp. | 4.500% | 2/6/2057 | 355 | 319 | ||
| Microsoft Corp. | 2.675% | 6/1/2060 | 478 | 277 | ||
| Motorola Solutions Inc. | 4.600% | 5/23/2029 | 210 | 213 | ||
| Motorola Solutions Inc. | 2.300% | 11/15/2030 | 370 | 340 | ||
| Motorola Solutions Inc. | 2.750% | 5/24/2031 | 365 | 339 | ||
| Motorola Solutions Inc. | 5.400% | 4/15/2034 | 175 | 183 | ||
| NVIDIA Corp. | 1.550% | 6/15/2028 | 258 | 246 | ||
| NVIDIA Corp. | 2.850% | 4/1/2030 | 390 | 375 | ||
| NVIDIA Corp. | 2.000% | 6/15/2031 | 265 | 241 | ||
| NVIDIA Corp. | 3.500% | 4/1/2040 | 250 | 216 | ||
| NVIDIA Corp. | 3.500% | 4/1/2050 | 595 | 453 | ||
38
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| NXP BV | 4.300% | 6/18/2029 | 265 | 267 | ||
| NXP BV | 3.400% | 5/1/2030 | 155 | 150 | ||
| NXP BV | 2.500% | 5/11/2031 | 320 | 293 | ||
| NXP BV | 2.650% | 2/15/2032 | 260 | 235 | ||
| NXP BV | 5.000% | 1/15/2033 | 175 | 179 | ||
| NXP BV | 3.250% | 5/11/2041 | 220 | 169 | ||
| Oracle Corp. | 2.800% | 4/1/2027 | 542 | 534 | ||
| Oracle Corp. | 3.250% | 11/15/2027 | 542 | 532 | ||
| Oracle Corp. | 2.300% | 3/25/2028 | 780 | 748 | ||
| Oracle Corp. | 4.500% | 5/6/2028 | 585 | 588 | ||
| Oracle Corp. | 4.800% | 8/3/2028 | 485 | 490 | ||
| Oracle Corp. | 4.550% | 2/4/2029 | 218 | 218 | ||
| 2 | Oracle Corp. | 4.200% | 9/27/2029 | 605 | 597 | |
| Oracle Corp. | 6.150% | 11/9/2029 | 110 | 115 | ||
| Oracle Corp. | 2.950% | 4/1/2030 | 935 | 870 | ||
| Oracle Corp. | 4.650% | 5/6/2030 | 126 | 126 | ||
| Oracle Corp. | 4.450% | 9/26/2030 | 565 | 554 | ||
| Oracle Corp. | 4.950% | 2/4/2031 | 1,045 | 1,043 | ||
| Oracle Corp. | 2.875% | 3/25/2031 | 725 | 659 | ||
| Oracle Corp. | 5.250% | 2/3/2032 | 435 | 437 | ||
| Oracle Corp. | 4.800% | 9/26/2032 | 595 | 582 | ||
| Oracle Corp. | 6.250% | 11/9/2032 | 685 | 723 | ||
| Oracle Corp. | 4.900% | 2/6/2033 | 340 | 332 | ||
| Oracle Corp. | 5.350% | 5/4/2033 | 754 | 757 | ||
| Oracle Corp. | 4.300% | 7/8/2034 | 385 | 352 | ||
| Oracle Corp. | 4.700% | 9/27/2034 | 945 | 888 | ||
| Oracle Corp. | 3.900% | 5/15/2035 | 365 | 320 | ||
| Oracle Corp. | 5.500% | 8/3/2035 | 711 | 702 | ||
| Oracle Corp. | 5.200% | 9/26/2035 | 746 | 721 | ||
| Oracle Corp. | 5.700% | 2/4/2036 | 639 | 639 | ||
| Oracle Corp. | 3.850% | 7/15/2036 | 505 | 431 | ||
| Oracle Corp. | 3.800% | 11/15/2037 | 458 | 377 | ||
| Oracle Corp. | 6.500% | 4/15/2038 | 450 | 466 | ||
| Oracle Corp. | 6.125% | 7/8/2039 | 249 | 246 | ||
| Oracle Corp. | 3.600% | 4/1/2040 | 600 | 450 | ||
| Oracle Corp. | 5.375% | 7/15/2040 | 465 | 425 | ||
| Oracle Corp. | 3.650% | 3/25/2041 | 580 | 431 | ||
| Oracle Corp. | 4.500% | 7/8/2044 | 643 | 495 | ||
| Oracle Corp. | 4.125% | 5/15/2045 | 200 | 145 | ||
| Oracle Corp. | 5.875% | 9/26/2045 | 690 | 624 | ||
| Oracle Corp. | 6.550% | 2/4/2046 | 441 | 430 | ||
| Oracle Corp. | 4.000% | 7/15/2046 | 900 | 629 | ||
| Oracle Corp. | 4.000% | 11/15/2047 | 390 | 269 | ||
| Oracle Corp. | 3.600% | 4/1/2050 | 926 | 579 | ||
| Oracle Corp. | 3.950% | 3/25/2051 | 980 | 648 | ||
| Oracle Corp. | 6.900% | 11/9/2052 | 717 | 708 | ||
| Oracle Corp. | 5.550% | 2/6/2053 | 691 | 577 | ||
| Oracle Corp. | 5.375% | 9/27/2054 | 490 | 395 | ||
| Oracle Corp. | 4.375% | 5/15/2055 | 305 | 211 | ||
| Oracle Corp. | 6.000% | 8/3/2055 | 593 | 522 | ||
| Oracle Corp. | 5.950% | 9/26/2055 | 785 | 690 | ||
| Oracle Corp. | 6.700% | 2/4/2056 | 1,284 | 1,244 | ||
| Oracle Corp. | 3.850% | 4/1/2060 | 1,010 | 614 | ||
| Oracle Corp. | 4.100% | 3/25/2061 | 330 | 211 | ||
| Oracle Corp. | 5.500% | 9/27/2064 | 175 | 139 | ||
| Oracle Corp. | 6.125% | 8/3/2065 | 350 | 303 | ||
| Oracle Corp. | 6.100% | 9/26/2065 | 576 | 499 | ||
| Oracle Corp. | 6.850% | 2/4/2066 | 366 | 351 | ||
| Paychex Inc. | 5.600% | 4/15/2035 | 705 | 722 | ||
| Qorvo Inc. | 4.375% | 10/15/2029 | 405 | 399 | ||
| QUALCOMM Inc. | 3.250% | 5/20/2027 | 277 | 276 | ||
| QUALCOMM Inc. | 1.300% | 5/20/2028 | 60 | 57 | ||
| QUALCOMM Inc. | 2.150% | 5/20/2030 | 505 | 470 | ||
| QUALCOMM Inc. | 1.650% | 5/20/2032 | 315 | 272 | ||
| QUALCOMM Inc. | 4.650% | 5/20/2035 | 195 | 197 | ||
| QUALCOMM Inc. | 4.800% | 5/20/2045 | 329 | 303 | ||
| QUALCOMM Inc. | 4.300% | 5/20/2047 | 365 | 309 | ||
| QUALCOMM Inc. | 3.250% | 5/20/2050 | 450 | 314 | ||
| QUALCOMM Inc. | 4.500% | 5/20/2052 | 240 | 203 | ||
| QUALCOMM Inc. | 6.000% | 5/20/2053 | 290 | 307 | ||
39
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| Quanta Services Inc. | 2.900% | 10/1/2030 | 505 | 477 | ||
| RELX Capital Inc. | 4.000% | 3/18/2029 | 410 | 410 | ||
| RELX Capital Inc. | 4.750% | 3/27/2030 | 265 | 270 | ||
| RELX Capital Inc. | 3.000% | 5/22/2030 | 165 | 158 | ||
| RELX Capital Inc. | 5.250% | 3/27/2035 | 51 | 52 | ||
| Roper Technologies Inc. | 4.200% | 9/15/2028 | 465 | 466 | ||
| Roper Technologies Inc. | 1.750% | 2/15/2031 | 180 | 158 | ||
| Roper Technologies Inc. | 4.900% | 10/15/2034 | 150 | 149 | ||
| Roper Technologies Inc. | 5.100% | 9/15/2035 | 345 | 344 | ||
| S&P Global Inc. | 2.450% | 3/1/2027 | 910 | 897 | ||
| S&P Global Inc. | 2.700% | 3/1/2029 | 285 | 276 | ||
| S&P Global Inc. | 4.250% | 5/1/2029 | 650 | 656 | ||
| S&P Global Inc. | 2.900% | 3/1/2032 | 315 | 293 | ||
| S&P Global Inc. | 3.700% | 3/1/2052 | 635 | 482 | ||
| Salesforce Inc. | 3.700% | 4/11/2028 | 250 | 249 | ||
| Salesforce Inc. | 1.500% | 7/15/2028 | 105 | 99 | ||
| Salesforce Inc. | 1.950% | 7/15/2031 | 265 | 236 | ||
| Salesforce Inc. | 2.700% | 7/15/2041 | 333 | 237 | ||
| Salesforce Inc. | 2.900% | 7/15/2051 | 545 | 334 | ||
| Salesforce Inc. | 3.050% | 7/15/2061 | 195 | 114 | ||
| ServiceNow Inc. | 1.400% | 9/1/2030 | 404 | 358 | ||
| Synopsys Inc. | 4.650% | 4/1/2028 | 295 | 299 | ||
| Synopsys Inc. | 5.000% | 4/1/2032 | 1,000 | 1,031 | ||
| Synopsys Inc. | 5.150% | 4/1/2035 | 600 | 613 | ||
| Synopsys Inc. | 5.700% | 4/1/2055 | 605 | 605 | ||
| Texas Instruments Inc. | 2.250% | 9/4/2029 | 175 | 166 | ||
| Texas Instruments Inc. | 1.750% | 5/4/2030 | 160 | 147 | ||
| Texas Instruments Inc. | 4.900% | 3/14/2033 | 165 | 171 | ||
| Texas Instruments Inc. | 3.875% | 3/15/2039 | 300 | 271 | ||
| Texas Instruments Inc. | 4.150% | 5/15/2048 | 300 | 251 | ||
| Texas Instruments Inc. | 5.150% | 2/8/2054 | 160 | 154 | ||
| Texas Instruments Inc. | 5.050% | 5/18/2063 | 435 | 398 | ||
| TSMC Arizona Corp. | 3.875% | 4/22/2027 | 310 | 310 | ||
| TSMC Arizona Corp. | 2.500% | 10/25/2031 | 240 | 222 | ||
| TSMC Arizona Corp. | 4.250% | 4/22/2032 | 340 | 345 | ||
| TSMC Arizona Corp. | 3.125% | 10/25/2041 | 220 | 185 | ||
| TSMC Arizona Corp. | 3.250% | 10/25/2051 | 170 | 133 | ||
| TSMC Arizona Corp. | 4.500% | 4/22/2052 | 180 | 174 | ||
| VMware LLC | 1.800% | 8/15/2028 | 135 | 128 | ||
| VMware LLC | 4.700% | 5/15/2030 | 205 | 209 | ||
| VMware LLC | 2.200% | 8/15/2031 | 175 | 157 | ||
| Workday Inc. | 3.500% | 4/1/2027 | 150 | 149 | ||
| Workday Inc. | 3.700% | 4/1/2029 | 250 | 246 | ||
| Workday Inc. | 3.800% | 4/1/2032 | 280 | 266 | ||
| Xilinx Inc. | 2.375% | 6/1/2030 | 170 | 159 | ||
| 129,793 | ||||||
| Utilities (0.2%) | ||||||
| AEP Texas Inc. | 5.850% | 10/15/2055 | 75 | 75 | ||
| American Water Capital Corp. | 4.450% | 6/1/2032 | 310 | 313 | ||
| American Water Capital Corp. | 5.250% | 3/1/2035 | 450 | 468 | ||
| American Water Capital Corp. | 3.750% | 9/1/2047 | 140 | 109 | ||
| American Water Capital Corp. | 5.700% | 9/1/2055 | 105 | 106 | ||
| Commonwealth Edison Co. | 4.000% | 3/1/2048 | 295 | 240 | ||
| Oncor Electric Delivery Co. LLC | 5.650% | 11/15/2033 | 155 | 166 | ||
| Oncor Electric Delivery Co. LLC | 4.950% | 9/15/2052 | 310 | 282 | ||
| Oncor Electric Delivery Co. LLC | 5.550% | 6/15/2054 | 165 | 163 | ||
40
ESG U.S. Corporate Bond ETF
| Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
| PPL Electric Utilities Corp. | 5.250% | 5/15/2053 | 270 | 259 | ||
| 2,181 | ||||||
| Total Corporate Bonds (Cost $1,057,687) | 1,052,566 | |||||
| Total Investments (98.5%) (Cost $1,061,029) | 1,055,935 | |||||
| Other Assets and Liabilities—Net (1.5%) | 16,145 | |||||
| Net Assets (100%) | 1,072,080 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| 1 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2026. |
| 2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2026, the aggregate value was $2,582, representing 0.2% of net assets. |
| 4 | Securities with a value of $126 have been segregated as initial margin for open futures contracts. |
| DAC—Designated Activity Company. |
Derivative Financial
Instruments Outstanding as of Period End
| Futures Contracts | ||||
| ($000) | ||||
| Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
| Long Futures Contracts | ||||
| Ultra 10-Year U.S. Treasury Note | June 2026 | 33 | 3,852 | — |
| Short Futures Contracts | ||||
| 5-Year U.S. Treasury Note | June 2026 | (11) | (1,212) | (4) |
| 10-Year U.S. Treasury Note | June 2026 | (5) | (569) | — |
| Long U.S. Treasury Bond | June 2026 | (9) | (1,066) | (1) |
| Ultra Long U.S. Treasury Bond | June 2026 | (10) | (1,216) | (8) |
| (13) | ||||
| (13) | ||||
See accompanying Notes,
which are an integral part of the Financial Statements.
41
ESG U.S. Corporate Bond ETF
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value—Unaffiliated Issuers (Cost $1,061,029) | 1,055,935 |
| Investment in Vanguard | 24 |
| Cash | 15,530 |
| Receivables for Investment Securities Sold | 9,279 |
| Receivables for Accrued Income | 12,781 |
| Total Assets | 1,093,549 |
| Liabilities | |
| Payables for Investment Securities Purchased | 21,410 |
| Payables to Vanguard | 46 |
| Variation Margin Payable—Futures Contracts | 13 |
| Total Liabilities | 21,469 |
| Net Assets | 1,072,080 |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 1,097,595 |
| Total Distributable Earnings (Loss) | (25,515) |
| Net Assets | 1,072,080 |
| Net Assets | |
| Applicable to 16,700,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,072,080 |
| Net Asset Value Per Share | $64.20 |
See accompanying Notes,
which are an integral part of the Financial Statements.
42
ESG U.S. Corporate Bond ETF
Statement of Operations
| Six Months Ended February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 23,430 |
| Total Income | 23,430 |
| Expenses | |
| The Vanguard Group—Note C | |
| Investment Advisory Services | 17 |
| Management and Administrative | 518 |
| Marketing and Distribution | 22 |
| Custodian Fees | 4 |
| Shareholders’ Reports | 17 |
| Trustees’ Fees and Expenses | — |
| Other Expenses | 9 |
| Total Expenses | 587 |
| Net Investment Income | 22,843 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold | (847) |
| Futures Contracts | (62) |
| Realized Net Gain (Loss) | (909) |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities | 10,838 |
| Futures Contracts | (16) |
| Change in Unrealized Appreciation (Depreciation) | 10,822 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 32,756 |
See accompanying Notes,
which are an integral part of the Financial Statements.
43
ESG U.S. Corporate Bond ETF
Statement of Changes in Net Assets
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 22,843 | 37,013 | |
| Realized Net Gain (Loss) | (909) | (3,884) | |
| Change in Unrealized Appreciation (Depreciation) | 10,822 | (120) | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 32,756 | 33,009 | |
| Distributions | |||
| Total Distributions | (22,054) | (35,929) | |
| Capital Share Transactions | |||
| Issued | 158,236 | 260,406 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | — | (6,177) | |
| Net Increase (Decrease) from Capital Share Transactions | 158,236 | 254,229 | |
| Total Increase (Decrease) | 168,938 | 251,309 | |
| Net Assets | |||
| Beginning of Period | 903,142 | 651,833 | |
| End of Period | 1,072,080 | 903,142 | |
See accompanying Notes,
which are an integral part of the Financial Statements.
44
ESG U.S. Corporate Bond ETF
Financial Highlights
| For a Share Outstanding Throughout Each Period | Six Months Ended February 28, 2026 | Year Ended August 31, | September 22, 20201 to August 31, 2021 | |||
| 2025 | 2024 | 2023 | 2022 | |||
| Net Asset Value, Beginning of Period | $63.49 | $63.91 | $61.16 | $62.65 | $74.86 | $75.00 |
| Investment Operations | ||||||
| Net Investment Income2 | 1.481 | 2.936 | 2.719 | 2.217 | 1.542 | 1.211 |
| Net Realized and Unrealized Gain (Loss) on Investments | .677 | (.463) | 2.657 | (1.574) | (12.307) | (.330) |
| Total from Investment Operations | 2.158 | 2.473 | 5.376 | .643 | (10.765) | .881 |
| Distributions | ||||||
| Dividends from Net Investment Income | (1.448) | (2.893) | (2.626) | (2.133) | (1.445) | (1.021) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (1.448) | (2.893) | (2.626) | (2.133) | (1.445) | (1.021) |
| Net Asset Value, End of Period | $64.20 | $63.49 | $63.91 | $61.16 | $62.65 | $74.86 |
| Total Return | 3.44% | 4.01% | 9.05% | 1.09% | -14.54% | 1.20% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $1,072 | $903 | $652 | $428 | $338 | $217 |
| Ratio of Total Expenses to Average Net Assets | 0.12% | 0.12% | 0.12% | 0.12%3 | 0.12%3 | 0.12%4 |
| Ratio of Net Investment Income to Average Net Assets | 4.67% | 4.68% | 4.40% | 3.62% | 2.26% | 1.74%4 |
| Portfolio Turnover Rate5 | 15% | 33% | 32% | 28% | 34% | 24% |
| The expense ratio and net investment income ratio for the current period have been annualized. | ||||||
| 1 | Inception. |
| 2 | Calculated based on average shares outstanding. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.12%. |
| 4 | Annualized. |
| 5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes, which are an integral
part of the Financial Statements.
45
ESG U.S. Corporate Bond ETF
Notes to Financial Statements
Vanguard ESG U.S. Corporate
Bond ETF is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund.
ETF Shares are listed for trading on Cboe BZX
Exchange, Inc.; they can be purchased and sold through a broker.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and other temporary cash investments are valued using the latest bid prices
or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including
mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted
average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been
affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to
oversight by the board of trustees.
2. Futures Contracts:
The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced,
or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices
of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further
mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing
brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any
securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the six months ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the
period.
3. Federal Income Taxes:
The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until
expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state
income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
4. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
5. Credit Facilities and
Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit
agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be
utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged
administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included
in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate,
the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based
upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to
be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended
February 28, 2026, the fund did not utilize the credit facilities or the Interfund Lending Program.
6. Other: Interest
income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt
securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment
securities are those of the specific securities sold.
B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Capital Management, LLC.
46
ESG U.S. Corporate Bond ETF
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate
management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines
approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $24,000, representing less than 0.01% of the fund’s
net assets and 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| U.S. Government and Agency Obligations | — | 3,369 | — | 3,369 |
| Corporate Bonds | — | 1,052,566 | — | 1,052,566 |
| Total | — | 1,055,935 | — | 1,055,935 |
| Derivative Financial Instruments | ||||
| Liabilities | ||||
| Futures Contracts1 | (13) | — | — | (13) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 1,061,485 |
| Gross Unrealized Appreciation | 20,105 |
| Gross Unrealized Depreciation | (25,668) |
| Net Unrealized Appreciation (Depreciation) | (5,563) |
The fund’s tax-basis
capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at August 31, 2025, the fund had available capital losses totaling $22,838,000 that may be carried forward indefinitely to
offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending August 31, 2026; should the fund realize net capital losses for
the year, the losses will be added to the loss carryforward balance above.
F. During the six months ended February 28, 2026, the fund purchased $104,617,000 of investment securities and sold $93,174,000 of investment securities, other than U.S. government securities
and temporary cash investments. Purchases and sales of U.S. government securities were $54,521,000 and $57,162,000, respectively. In addition, the fund purchased and sold investment securities of $147,029,000 and $0,
respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.
G. Capital shares issued and redeemed were:
| Six Months Ended February 28, 2026 | Year Ended August 31, 2025 | ||
| Shares (000) | Shares (000) | ||
| Issued | 2,475 | 4,125 | |
| Issued in Lieu of Cash Distributions | — | — | |
| Redeemed | — | (100) | |
| Net Increase (Decrease) in Shares Outstanding | 2,475 | 4,025 |
47
ESG U.S. Corporate Bond ETF
H. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
Credit risk is the risk that a
counterparty to a transaction or an issuer of a financial instrument will fail to pay interest and principal when due, or that perceptions of the issuer’s ability to make such payments will cause the price of an
investment to decline. Investment in debt securities will generally increase credit risk.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
At February 28, 2026, one
shareholder was the record or beneficial owner of 26% of the fund’s net assets. If this shareholder were to redeem its investment in the fund, the redemption might result in an increase in the fund’s
expense ratio, cause the fund to incur higher transaction costs, or lead to the realization of taxable capital gains.
I. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
J. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
Q41582 042026
48
Financial Statements
For the period ended February
28, 2026
Vanguard Emerging Markets Ex-China ETF
Contents
Financial Statements | 1 |
Emerging Markets Ex-China ETF
Financial Statements (unaudited)
Schedule of Investments
As of February 28, 2026
The fund files its complete
schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports
are available on the SEC’s website at www.sec.gov.
1
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Chile (0.8%) | ||||||
| Banco de Chile | 1,199,434 | 247 | ||||
| Latam Airlines Group SA | 7,147,970 | 201 | ||||
| Falabella SA | 22,615 | 168 | ||||
| Banco de Credito e Inversiones SA | 2,102 | 144 | ||||
| Banco Santander Chile | 1,647,938 | 142 | ||||
| Cencosud SA | 34,300 | 107 | ||||
| Plaza SA | 21,334 | 100 | ||||
| Empresas Copec SA | 10,649 | 88 | ||||
| Enel Chile SA | 682,336 | 57 | ||||
| Enel Americas SA | 503,526 | 45 | ||||
| Empresas CMPC SA | 29,815 | 44 | ||||
| Quinenco SA | 7,696 | 39 | ||||
| Banco Itau Chile SA | 1,643 | 39 | ||||
| Cencosud Shopping SA | 13,222 | 38 | ||||
| Colbun SA | 197,078 | 33 | ||||
| Aguas Andinas SA Class A | 70,912 | 30 | ||||
| Cia Cervecerias Unidas SA | 3,393 | 23 | ||||
| Latam Airlines Group SA ADR | 377 | 21 | ||||
| Cia Sud Americana de Vapores SA | 345,169 | 19 | ||||
| 1,585 | ||||||
| Colombia (0.1%) | ||||||
| Interconexion Electrica SA ESP | 11,258 | 83 | ||||
| Ecopetrol SA | 121,148 | 72 | ||||
| Cementos Argos SA | 14,907 | 47 | ||||
| 202 | ||||||
| Czech Republic (0.2%) | ||||||
| CEZ A/S | 3,738 | 212 | ||||
| Komercni Banka A/S | 2,000 | 115 | ||||
| 1 | Moneta Money Bank A/S | 6,896 | 66 | |||
| Colt CZ Group SE | 385 | 17 | ||||
| 410 | ||||||
| Egypt (0.1%) | ||||||
| Commercial International Bank - Egypt (CIB) | 68,346 | 190 | ||||
| Greece (1.1%) | ||||||
| National Bank of Greece SA | 22,397 | 364 | ||||
| Eurobank SA | 65,226 | 302 | ||||
| * | Piraeus Bank SA | 28,876 | 277 | |||
| Alpha Bank SA | 55,924 | 246 | ||||
| Public Power Corp. SA | 5,053 | 113 | ||||
| Bank of Cyprus Holdings plc | 9,892 | 108 | ||||
| OPAP Holding SA | 4,791 | 90 | ||||
| Hellenic Telecommunications Organization SA | 4,292 | 89 | ||||
| JUMBO SA | 3,019 | 88 | ||||
| GEK Terna SA | 1,925 | 82 | ||||
| Motor Oil Hellas Corinth Refineries SA | 1,751 | 76 | ||||
| Titan SA | 997 | 62 | ||||
| Optima bank SA | 5,168 | 60 | ||||
| Cenergy Holdings SA | 1,574 | 41 | ||||
| Athens International Airport SA | 1,961 | 27 | ||||
| HELLENiQ ENERGY Holdings SA | 2,181 | 23 | ||||
| Viohalco SA | 1,080 | 20 | ||||
| * | LAMDA Development SA | 2,098 | 17 | |||
| * | Aktor SA Holding Co. Technical & Energy Projects | 1,375 | 17 | |||
| * | Ballys Intralot SA | 15,733 | 17 | |||
| Aegean Airlines SA | 903 | 15 | ||||
| Sarantis SA | 680 | 12 | ||||
| Holding Co. ADMIE IPTO SA | 2,694 | 10 | ||||
| Athens Water Supply & Sewage Co. SA | 1,066 | 10 | ||||
| Piraeus Port Authority SA | 165 | 7 | ||||
| ElvalHalcor SA | 1,365 | 7 | ||||
| Autohellas Tourist & Trading SA | 419 | 6 | ||||
| Quest Holdings SA | 696 | 6 | ||||
| Ellaktor SA | 1,913 | 3 | ||||
| 2,195 | ||||||
| Hungary (0.6%) | ||||||
| OTP Bank Nyrt. | 6,167 | 760 | ||||
2
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Richter Gedeon Nyrt. | 3,676 | 138 | ||||
| MOL Hungarian Oil & Gas plc | 12,072 | 134 | ||||
| Magyar Telekom Telecommunications plc | 7,511 | 51 | ||||
| Opus Global Nyrt. | 9,594 | 16 | ||||
| * | 4iG Nyrt. | 1,083 | 12 | |||
| 1,111 | ||||||
| Iceland (0.1%) | ||||||
| 1 | Arion Banki HF | 35,965 | 59 | |||
| Islandsbanki HF | 49,841 | 56 | ||||
| Hagar hf | 26,650 | 26 | ||||
| Festi hf | 8,155 | 23 | ||||
| Kvika banki hf | 113,273 | 18 | ||||
| Reitir fasteignafelag hf | 16,614 | 17 | ||||
| * | Alvotech SA | 2,972 | 12 | |||
| Eimskipafelag Islands hf | 3,374 | 7 | ||||
| 218 | ||||||
| India (24.2%) | ||||||
| HDFC Bank Ltd. | 305,075 | 2,982 | ||||
| Reliance Industries Ltd. | 183,435 | 2,815 | ||||
| ICICI Bank Ltd. | 142,006 | 2,159 | ||||
| Bharti Airtel Ltd. (XNSE) | 79,087 | 1,637 | ||||
| Infosys Ltd. | 94,833 | 1,359 | ||||
| Axis Bank Ltd. | 61,708 | 940 | ||||
| Mahindra & Mahindra Ltd. | 25,070 | 937 | ||||
| Larsen & Toubro Ltd. | 18,142 | 854 | ||||
| Bajaj Finance Ltd. | 75,639 | 830 | ||||
| Tata Consultancy Services Ltd. | 27,516 | 800 | ||||
| Kotak Mahindra Bank Ltd. | 147,163 | 673 | ||||
| State Bank of India | 49,675 | 657 | ||||
| Hindustan Unilever Ltd. | 23,878 | 614 | ||||
| Maruti Suzuki India Ltd. | 3,535 | 578 | ||||
| Sun Pharmaceutical Industries Ltd. | 28,697 | 550 | ||||
| NTPC Ltd. | 127,119 | 534 | ||||
| Tata Steel Ltd. | 222,417 | 520 | ||||
| Titan Co. Ltd. | 9,883 | 471 | ||||
| Bharat Electronics Ltd. | 96,149 | 471 | ||||
| UltraTech Cement Ltd. | 3,231 | 450 | ||||
| HCL Technologies Ltd. | 28,350 | 434 | ||||
| Power Grid Corp. of India Ltd. | 121,632 | 400 | ||||
| Hindalco Industries Ltd. | 39,087 | 398 | ||||
| Shriram Finance Ltd. | 33,505 | 398 | ||||
| Vedanta Ltd. | 43,551 | 344 | ||||
| Adani Ports & Special Economic Zone Ltd. | 19,828 | 332 | ||||
| JSW Steel Ltd. | 23,480 | 327 | ||||
| * | Eternal Ltd. | 120,956 | 327 | |||
| Oil & Natural Gas Corp. Ltd. | 104,039 | 321 | ||||
| Asian Paints Ltd. | 12,217 | 320 | ||||
| Eicher Motors Ltd. | 3,598 | 317 | ||||
| * | Tata Motors Ltd. | 55,380 | 308 | |||
| Grasim Industries Ltd. | 9,546 | 294 | ||||
| Coal India Ltd. | 61,069 | 289 | ||||
| ITC Ltd. | 80,867 | 279 | ||||
| Nestle India Ltd. | 19,398 | 276 | ||||
| 1 | InterGlobe Aviation Ltd. | 5,072 | 270 | |||
| TVS Motor Co. Ltd. | 6,316 | 269 | ||||
| 1 | SBI Life Insurance Co. Ltd. | 11,636 | 261 | |||
| Tech Mahindra Ltd. | 16,768 | 251 | ||||
| Divi's Laboratories Ltd. | 3,435 | 242 | ||||
| Max Healthcare Institute Ltd. | 19,977 | 240 | ||||
| Jio Financial Services Ltd. | 84,125 | 237 | ||||
| Tata Motors Passenger Vehicles Ltd. | 55,319 | 233 | ||||
| Apollo Hospitals Enterprise Ltd. | 2,681 | 231 | ||||
| Dr Reddy's Laboratories Ltd. | 16,215 | 230 | ||||
| Bajaj Finserv Ltd. | 10,301 | 226 | ||||
| Bharat Petroleum Corp. Ltd. | 53,062 | 225 | ||||
| Cipla Ltd. | 15,035 | 223 | ||||
| Hero MotoCorp Ltd. | 3,497 | 220 | ||||
| Tata Consumer Products Ltd. | 17,509 | 220 | ||||
| Hindustan Aeronautics Ltd. | 5,103 | 220 | ||||
3
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| * | Adani Power Ltd. | 140,484 | 217 | |||
| Cholamandalam Investment & Finance Co. Ltd. | 11,336 | 216 | ||||
| Britannia Industries Ltd. | 3,175 | 210 | ||||
| Trent Ltd. | 4,888 | 210 | ||||
| Indian Oil Corp. Ltd. | 100,872 | 208 | ||||
| 1 | HDFC Life Insurance Co. Ltd. | 25,391 | 200 | |||
| Bajaj Auto Ltd. | 1,808 | 198 | ||||
| Cummins India Ltd. | 3,660 | 197 | ||||
| Tata Power Co. Ltd. | 45,133 | 188 | ||||
| Varun Beverages Ltd. | 36,244 | 180 | ||||
| Ashok Leyland Ltd. | 76,831 | 178 | ||||
| * | Indus Towers Ltd. | 35,447 | 178 | |||
| Power Finance Corp. Ltd. | 38,963 | 177 | ||||
| Samvardhana Motherson International Ltd. | 118,896 | 174 | ||||
| Wipro Ltd. | 75,635 | 168 | ||||
| Indian Hotels Co. Ltd. Class A | 22,896 | 168 | ||||
| Adani Enterprises Ltd. | 7,005 | 167 | ||||
| *,1 | Avenue Supermarts Ltd. | 3,945 | 167 | |||
| Lupin Ltd. | 6,519 | 166 | ||||
| Federal Bank Ltd. | 48,872 | 161 | ||||
| BSE Ltd. | 5,357 | 160 | ||||
| 1 | HDFC Asset Management Co. Ltd. | 5,288 | 157 | |||
| * | PB Fintech Ltd. | 9,136 | 149 | |||
| Bharat Forge Ltd. | 6,940 | 146 | ||||
| Persistent Systems Ltd. | 2,807 | 146 | ||||
| Godrej Consumer Products Ltd. | 10,816 | 145 | ||||
| * | Max Financial Services Ltd. | 7,114 | 142 | |||
| GE Vernova T&D India Ltd. | 3,330 | 141 | ||||
| CG Power & Industrial Solutions Ltd. | 17,690 | 141 | ||||
| Pidilite Industries Ltd. | 8,549 | 140 | ||||
| * | Suzlon Energy Ltd. | 292,613 | 137 | |||
| Torrent Pharmaceuticals Ltd. | 2,864 | 137 | ||||
| Fortis Healthcare Ltd. | 13,176 | 137 | ||||
| Jindal Steel Ltd. | 9,968 | 136 | ||||
| GAIL India Ltd. | 72,510 | 135 | ||||
| 1 | ICICI Lombard General Insurance Co. Ltd. | 6,446 | 135 | |||
| * | One 97 Communications Ltd. | 10,982 | 133 | |||
| REC Ltd. | 33,404 | 129 | ||||
| Polycab India Ltd. | 1,354 | 128 | ||||
| Hindustan Petroleum Corp. Ltd. | 25,745 | 124 | ||||
| Marico Ltd. | 14,310 | 124 | ||||
| 1 | LTIMindtree Ltd. | 2,507 | 123 | |||
| United Spirits Ltd. | 7,960 | 121 | ||||
| Ambuja Cements Ltd. | 21,480 | 118 | ||||
| Coforge Ltd. | 8,984 | 118 | ||||
| 1 | Laurus Labs Ltd. | 9,856 | 117 | |||
| APL Apollo Tubes Ltd. | 4,754 | 117 | ||||
| Dixon Technologies India Ltd. | 995 | 115 | ||||
| DLF Ltd. | 17,231 | 114 | ||||
| Bharat Heavy Electricals Ltd. | 39,068 | 114 | ||||
| Sundaram Finance Ltd. | 1,855 | 113 | ||||
| SRF Ltd. | 3,915 | 110 | ||||
| Embassy Office Parks REIT | 23,564 | 110 | ||||
| UPL Ltd. | 15,314 | 107 | ||||
| Voltas Ltd. | 6,215 | 107 | ||||
| * | Yes Bank Ltd. | 470,030 | 107 | |||
| Muthoot Finance Ltd. | 2,882 | 106 | ||||
| Info Edge India Ltd. | 9,339 | 106 | ||||
| 1 | AU Small Finance Bank Ltd. | 9,826 | 103 | |||
| Aurobindo Pharma Ltd. | 7,521 | 101 | ||||
| * | Adani Energy Solutions Ltd. | 8,883 | 99 | |||
| Bank of Baroda | 27,740 | 98 | ||||
| Solar Industries India Ltd. | 656 | 98 | ||||
| * | Swiggy Ltd. | 29,173 | 97 | |||
| Hitachi Energy India Ltd. | 341 | 96 | ||||
| National Aluminium Co. Ltd. | 24,048 | 94 | ||||
| Bosch Ltd. | 235 | 94 | ||||
| ABB India Ltd. | 1,405 | 94 | ||||
| Havells India Ltd. | 6,132 | 94 | ||||
| MRF Ltd. | 60 | 93 | ||||
4
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Dabur India Ltd. | 16,075 | 92 | ||||
| Phoenix Mills Ltd. | 5,024 | 92 | ||||
| KEI Industries Ltd. | 1,638 | 92 | ||||
| Hyundai Motor India Ltd. | 3,849 | 92 | ||||
| Union Bank of India Ltd. | 41,002 | 91 | ||||
| IDFC First Bank Ltd. | 113,045 | 91 | ||||
| Glenmark Pharmaceuticals Ltd. | 3,825 | 90 | ||||
| * | FSN E-Commerce Ventures Ltd. | 30,829 | 90 | |||
| Multi Commodity Exchange of India Ltd. | 3,356 | 90 | ||||
| Colgate-Palmolive India Ltd. | 3,585 | 89 | ||||
| Mphasis Ltd. | 3,508 | 89 | ||||
| * | Siemens Ltd. | 2,369 | 89 | |||
| Torrent Power Ltd. | 5,095 | 88 | ||||
| Punjab National Bank | 61,596 | 88 | ||||
| Tube Investments of India Ltd. | 2,911 | 88 | ||||
| Bajaj Holdings & Investment Ltd. | 720 | 86 | ||||
| Hindustan Zinc Ltd. | 12,930 | 86 | ||||
| * | Adani Green Energy Ltd. | 8,280 | 86 | |||
| 360 ONE WAM Ltd. | 6,983 | 85 | ||||
| Canara Bank | 48,633 | 84 | ||||
| NMDC Ltd. | 92,161 | 83 | ||||
| * | Vodafone Idea Ltd. | 711,495 | 83 | |||
| 1 | Lodha Developers Ltd. | 7,545 | 82 | |||
| * | Vishal Mega Mart Ltd. | 61,228 | 80 | |||
| Indian Bank | 7,248 | 79 | ||||
| Coromandel International Ltd. | 3,194 | 78 | ||||
| * | GMR Airports Ltd. | 69,983 | 78 | |||
| Oil India Ltd. | 14,578 | 78 | ||||
| * | IndusInd Bank Ltd. | 7,299 | 77 | |||
| Shree Cement Ltd. | 266 | 76 | ||||
| JSW Energy Ltd. | 14,227 | 76 | ||||
| PI Industries Ltd. | 2,204 | 76 | ||||
| Siemens Energy India Ltd. | 2,367 | 76 | ||||
| Blue Star Ltd. | 3,503 | 75 | ||||
| Mankind Pharma Ltd. | 3,041 | 75 | ||||
| * | Godrej Properties Ltd. | 3,836 | 73 | |||
| Mahindra & Mahindra Financial Services Ltd. | 17,431 | 72 | ||||
| Supreme Industries Ltd. | 1,626 | 71 | ||||
| Petronet LNG Ltd. | 20,033 | 71 | ||||
| 1 | ICICI Prudential Life Insurance Co. Ltd. | 9,813 | 71 | |||
| 1 | Sona Blw Precision Forgings Ltd. | 12,055 | 71 | |||
| Steel Authority of India Ltd. | 38,590 | 70 | ||||
| NHPC Ltd. | 83,854 | 69 | ||||
| Zydus Lifesciences Ltd. | 6,791 | 69 | ||||
| * | SBI Cards & Payment Services Ltd. | 8,046 | 69 | |||
| Jindal Stainless Ltd. | 8,095 | 69 | ||||
| Biocon Ltd. | 15,809 | 68 | ||||
| L&T Finance Ltd. | 21,664 | 68 | ||||
| Alkem Laboratories Ltd. | 1,063 | 66 | ||||
| * | Aditya Birla Capital Ltd. | 17,042 | 65 | |||
| WAAREE Energies Ltd. | 2,189 | 65 | ||||
| Prestige Estates Projects Ltd. | 4,205 | 64 | ||||
| Ipca Laboratories Ltd. | 3,778 | 64 | ||||
| UNO Minda Ltd. | 4,842 | 63 | ||||
| Astral Ltd. | 3,262 | 60 | ||||
| JK Cement Ltd. | 959 | 60 | ||||
| * | ITC Hotels Ltd. | 30,675 | 59 | |||
| * | Piramal Finance Ltd. | 3,086 | 59 | |||
| Jubilant Foodworks Ltd. | 10,186 | 58 | ||||
| Balkrishna Industries Ltd. | 2,163 | 57 | ||||
| Apar Industries Ltd. | 455 | 56 | ||||
| Page Industries Ltd. | 157 | 55 | ||||
| 1 | Indian Railway Finance Corp. Ltd. | 47,441 | 54 | |||
| Tata Communications Ltd. | 3,007 | 53 | ||||
| Oberoi Realty Ltd. | 3,174 | 53 | ||||
| Rail Vikas Nigam Ltd. | 15,198 | 53 | ||||
| Indian Railway Catering & Tourism Corp. Ltd. | 8,214 | 52 | ||||
| Schaeffler India Ltd. | 1,081 | 52 | ||||
| Container Corp. of India Ltd. | 9,210 | 50 | ||||
| Patanjali Foods Ltd. | 9,025 | 50 | ||||
5
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Mazagon Dock Shipbuilders Ltd. | 2,046 | 50 | ||||
| Cholamandalam Financial Holdings Ltd. | 2,704 | 49 | ||||
| Bank of India | 24,524 | 48 | ||||
| Oracle Financial Services Software Ltd. | 633 | 48 | ||||
| 1 | Nippon Life India Asset Management Ltd. | 4,638 | 48 | |||
| Kalyan Jewellers India Ltd. | 10,371 | 47 | ||||
| Tata Elxsi Ltd. | 928 | 46 | ||||
| LIC Housing Finance Ltd. | 7,611 | 45 | ||||
| Dalmia Bharat Ltd. | 2,029 | 44 | ||||
| 1 | RBL Bank Ltd. | 11,913 | 42 | |||
| 1 | Bandhan Bank Ltd. | 21,099 | 42 | |||
| Exide Industries Ltd. | 11,276 | 41 | ||||
| ACC Ltd. | 2,175 | 38 | ||||
| Central Depository Services India Ltd. | 2,745 | 38 | ||||
| 1 | Cochin Shipyard Ltd. | 2,287 | 38 | |||
| Ajanta Pharma Ltd. | 1,134 | 37 | ||||
| Gujarat Fluorochemicals Ltd. | 961 | 37 | ||||
| Narayana Hrudayalaya Ltd. | 1,821 | 37 | ||||
| Linde India Ltd. | 505 | 37 | ||||
| Indraprastha Gas Ltd. | 19,017 | 36 | ||||
| Lloyds Metals & Energy Ltd. | 2,681 | 36 | ||||
| 1 | General Insurance Corp. of India | 8,202 | 35 | |||
| * | Poonawalla Fincorp Ltd. | 6,929 | 35 | |||
| * | Kaynes Technology India Ltd. | 819 | 35 | |||
| Bharti Hexacom Ltd. | 2,003 | 35 | ||||
| AIA Engineering Ltd. | 806 | 34 | ||||
| United Breweries Ltd. | 1,905 | 34 | ||||
| Adani Total Gas Ltd. | 6,085 | 34 | ||||
| KPIT Technologies Ltd. | 4,002 | 34 | ||||
| Bharat Dynamics Ltd. | 2,450 | 34 | ||||
| GlaxoSmithKline Pharmaceuticals Ltd. | 1,173 | 33 | ||||
| Berger Paints India Ltd. | 6,602 | 33 | ||||
| * | Star Health & Allied Insurance Co. Ltd. | 6,429 | 33 | |||
| Bank of Maharashtra | 40,658 | 33 | ||||
| HDB Financial Services Ltd. | 4,259 | 33 | ||||
| Motilal Oswal Financial Services Ltd. | 3,982 | 32 | ||||
| 1 | Dr Lal PathLabs Ltd. | 2,060 | 32 | |||
| Deepak Nitrite Ltd. | 1,845 | 32 | ||||
| 3M India Ltd. | 73 | 30 | ||||
| Tata Technologies Ltd. | 4,577 | 30 | ||||
| Escorts Kubota Ltd. | 740 | 29 | ||||
| 1 | L&T Technology Services Ltd. | 743 | 29 | |||
| 1 | Endurance Technologies Ltd. | 960 | 28 | |||
| * | Indian Renewable Energy Development Agency Ltd. | 20,793 | 28 | |||
| Emami Ltd. | 5,217 | 27 | ||||
| Aarti Industries Ltd. | 5,541 | 27 | ||||
| Thermax Ltd. | 795 | 27 | ||||
| Castrol India Ltd. | 12,929 | 27 | ||||
| CRISIL Ltd. | 554 | 27 | ||||
| Housing & Urban Development Corp. Ltd. | 13,184 | 27 | ||||
| NLC India Ltd. | 9,216 | 26 | ||||
| JSW Infrastructure Ltd. | 9,231 | 26 | ||||
| Godfrey Phillips India Ltd. | 1,101 | 26 | ||||
| * | NTPC Green Energy Ltd. | 25,920 | 26 | |||
| IRB Infrastructure Developers Ltd. | 53,832 | 25 | ||||
| Zee Entertainment Enterprises Ltd. | 24,700 | 24 | ||||
| 1 | Syngene International Ltd. | 5,163 | 24 | |||
| * | AWL Agri Business Ltd. | 11,354 | 24 | |||
| * | Bajaj Housing Finance Ltd. | 25,446 | 24 | |||
| 1 | Premier Energies Ltd. | 2,877 | 23 | |||
| Gujarat Gas Ltd. | 4,996 | 22 | ||||
| Honeywell Automation India Ltd. | 62 | 21 | ||||
| Hexaware Technologies Ltd. | 4,071 | 21 | ||||
| Authum Investment & Infrastucture Ltd. | 3,814 | 20 | ||||
| IDBI Bank Ltd. | 14,787 | 19 | ||||
| Whirlpool of India Ltd. | 1,739 | 18 | ||||
| Sun TV Network Ltd. | 2,469 | 18 | ||||
| Bayer CropScience Ltd. | 339 | 17 | ||||
| Metro Brands Ltd. | 1,415 | 16 | ||||
| Bata India Ltd. | 1,781 | 15 | ||||
6
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| SJVN Ltd. | 18,840 | 15 | ||||
| Kansai Nerolac Paints Ltd. | 6,149 | 14 | ||||
| * | Godrej Industries Ltd. | 1,202 | 13 | |||
| * | Mangalore Refinery & Petrochemicals Ltd. | 5,367 | 12 | |||
| 2 | Bharti Airtel Ltd. | 660 | 12 | |||
| * | Indian Overseas Bank | 26,913 | 11 | |||
| Central Bank of India Ltd. | 25,285 | 11 | ||||
| 1 | New India Assurance Co. Ltd. | 6,504 | 11 | |||
| Relaxo Footwears Ltd. | 2,417 | 9 | ||||
| * | Tata Teleservices Maharashtra Ltd. | 18,422 | 8 | |||
| Vedant Fashions Ltd. | 1,809 | 8 | ||||
| 47,206 | ||||||
| Indonesia (1.6%) | ||||||
| Bank Central Asia Tbk. PT | 1,319,430 | 563 | ||||
| Bank Rakyat Indonesia Persero Tbk. PT | 1,775,594 | 413 | ||||
| Bank Mandiri Persero Tbk. PT | 1,164,486 | 365 | ||||
| Telkom Indonesia Persero Tbk. PT | 1,170,260 | 247 | ||||
| Astra International Tbk. PT | 542,980 | 216 | ||||
| * | Dian Swastatika Sentosa Tbk. PT | 33,015 | 155 | |||
| * | Amman Mineral Internasional PT | 324,838 | 148 | |||
| Bank Negara Indonesia Persero Tbk. PT | 335,422 | 88 | ||||
| * | GoTo Gojek Tokopedia Tbk. PT Class A | 20,883,152 | 76 | |||
| * | Merdeka Copper Gold Tbk. PT | 324,996 | 73 | |||
| United Tractors Tbk. PT | 39,760 | 68 | ||||
| * | Barito Pacific Tbk. PT | 557,536 | 66 | |||
| Sumber Alfaria Trijaya Tbk. PT | 550,751 | 55 | ||||
| Charoen Pokphand Indonesia Tbk. PT | 209,070 | 53 | ||||
| Indofood Sukses Makmur Tbk. PT | 116,879 | 45 | ||||
| Indah Kiat Pulp & Paper Tbk. PT | 62,326 | 43 | ||||
| Petrindo Jaya Kreasi Tbk. PT | 454,407 | 43 | ||||
| Perusahaan Gas Negara Persero Tbk. PT | 236,975 | 34 | ||||
| Alamtri Resources Indonesia Tbk. PT | 247,435 | 34 | ||||
| Kalbe Farma Tbk. PT | 495,355 | 33 | ||||
| Indofood CBP Sukses Makmur Tbk. PT | 60,053 | 28 | ||||
| Elang Mahkota Teknologi Tbk. PT | 446,375 | 24 | ||||
| XLSMART Telecom Sejahtera Tbk. PT | 122,618 | 23 | ||||
| Unilever Indonesia Tbk. PT | 153,971 | 22 | ||||
| Vale Indonesia Tbk. PT | 46,669 | 22 | ||||
| Trimegah Bangun Persada Tbk. PT | 244,244 | 22 | ||||
| Indosat Tbk. PT | 139,669 | 19 | ||||
| Semen Indonesia Persero Tbk. PT | 87,484 | 15 | ||||
| Sarana Menara Nusantara Tbk. PT | 487,891 | 15 | ||||
| Dayamitra Telekomunikasi PT | 435,874 | 14 | ||||
| Gudang Garam Tbk. PT | 12,211 | 13 | ||||
| Bukit Asam Persero Tbk. PT | 82,307 | 13 | ||||
| Mayora Indah Tbk. PT | 93,230 | 12 | ||||
| Bank Syariah Indonesia Tbk. PT | 86,359 | 12 | ||||
| Indocement Tunggal Prakarsa Tbk. PT | 27,392 | 10 | ||||
| Jasa Marga Persero Tbk. PT | 43,268 | 10 | ||||
| Avia Avian Tbk. PT | 291,301 | 8 | ||||
| PT Tower Bersama Infrastructure Tbk. | 51,811 | 5 | ||||
| * | Bumi Serpong Damai Tbk. PT | 87,293 | 4 | |||
| 3,109 | ||||||
| Kuwait (1.0%) | ||||||
| Kuwait Finance House KSCP | 332,117 | 871 | ||||
| National Bank of Kuwait SAKP | 220,847 | 678 | ||||
| Boubyan Bank KSCP | 47,832 | 106 | ||||
| Mobile Telecommunications Co. KSCP | 59,464 | 105 | ||||
| Gulf Bank KSCP | 59,427 | 66 | ||||
| * | Warba Bank KSCP | 59,513 | 56 | |||
| Mabanee Co. KPSC | 17,303 | 55 | ||||
| Burgan Bank SAK | 27,723 | 19 | ||||
| Agility Public Warehousing Co. KSCC | 40,503 | 18 | ||||
| 1,974 | ||||||
| Malaysia (2.4%) | ||||||
| Malayan Banking Bhd. | 202,961 | 624 | ||||
| Public Bank Bhd. | 392,516 | 497 | ||||
| CIMB Group Holdings Bhd. | 224,167 | 463 | ||||
7
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Tenaga Nasional Bhd. | 120,575 | 445 | ||||
| IHH Healthcare Bhd. | 83,163 | 194 | ||||
| Press Metal Aluminium Holdings Bhd. | 91,559 | 168 | ||||
| Gamuda Bhd. | 138,380 | 149 | ||||
| SD Guthrie Bhd. | 97,886 | 145 | ||||
| AMMB Holdings Bhd. | 74,949 | 124 | ||||
| RHB Bank Bhd. | 55,509 | 120 | ||||
| Petronas Gas Bhd. | 25,980 | 120 | ||||
| MISC Bhd. | 53,854 | 112 | ||||
| Sunway Bhd. | 66,592 | 100 | ||||
| Hong Leong Bank Bhd. | 16,541 | 99 | ||||
| Celcomdigi Bhd. | 102,545 | 84 | ||||
| IOI Corp. Bhd. | 76,904 | 78 | ||||
| Maxis Bhd. | 76,831 | 77 | ||||
| Axiata Group Bhd. | 120,216 | 70 | ||||
| Kuala Lumpur Kepong Bhd. | 13,862 | 68 | ||||
| Sime Darby Bhd. | 108,699 | 68 | ||||
| Telekom Malaysia Bhd. | 30,919 | 59 | ||||
| IJM Corp. Bhd. | 89,777 | 58 | ||||
| Petronas Chemicals Group Bhd. | 74,295 | 57 | ||||
| Dialog Group Bhd. | 114,942 | 52 | ||||
| Petronas Dagangan Bhd. | 9,117 | 51 | ||||
| YTL Power International Bhd. | 69,637 | 51 | ||||
| YTL Corp. Bhd. | 100,314 | 47 | ||||
| Nestle Malaysia Bhd. | 1,671 | 47 | ||||
| PPB Group Bhd. | 16,014 | 45 | ||||
| QL Resources Bhd. | 43,242 | 45 | ||||
| 1 | MR DIY Group M Bhd. | 90,987 | 42 | |||
| Fraser & Neave Holdings Bhd. | 4,429 | 40 | ||||
| Genting Bhd. | 55,627 | 40 | ||||
| 99 Speed Mart Retail Holdings Bhd. | 39,279 | 35 | ||||
| Alliance Bank Malaysia Bhd. | 24,942 | 32 | ||||
| Hong Leong Financial Group Bhd. | 5,554 | 30 | ||||
| Genting Malaysia Bhd. | 44,150 | 24 | ||||
| Top Glove Corp. Bhd. | 134,236 | 20 | ||||
| * | Hartalega Holdings Bhd. | 39,371 | 9 | |||
| 4,589 | ||||||
| Mexico (3.5%) | ||||||
| Grupo Mexico SAB de CV Class B | 76,720 | 976 | ||||
| Grupo Financiero Banorte SAB de CV | 77,596 | 885 | ||||
| America Movil SAB de CV Class B | 421,433 | 548 | ||||
| Fomento Economico Mexicano SAB de CV | 46,936 | 527 | ||||
| Cemex SAB de CV | 407,471 | 510 | ||||
| Wal-Mart de Mexico SAB de CV | 137,071 | 444 | ||||
| * | Industrias Penoles SAB de CV | 5,055 | 321 | |||
| Grupo Aeroportuario del Pacifico SAB de CV Class B | 10,990 | 287 | ||||
| Arca Continental SAB de CV | 23,610 | 284 | ||||
| Grupo Aeroportuario del Sureste SAB de CV Class B | 4,253 | 153 | ||||
| Prologis Property Mexico SA de CV | 29,516 | 145 | ||||
| Coca-Cola Femsa SAB de CV | 12,464 | 138 | ||||
| Fibra Uno Administracion SA de CV | 74,696 | 130 | ||||
| Grupo Financiero Inbursa SAB de CV | 47,825 | 122 | ||||
| Grupo Bimbo SAB de CV Class A | 32,695 | 119 | ||||
| Grupo Carso SAB de CV | 14,513 | 114 | ||||
| Grupo Aeroportuario del Centro Norte SAB de CV Class B | 7,412 | 113 | ||||
| Kimberly-Clark de Mexico SAB de CV Class A | 42,596 | 107 | ||||
| Gentera SAB de CV | 29,131 | 85 | ||||
| Corp. Inmobiliaria Vesta SAB de CV | 22,806 | 84 | ||||
| Megacable Holdings SAB de CV | 20,371 | 79 | ||||
| Gruma SAB de CV Class B | 4,343 | 78 | ||||
| Promotora y Operadora de Infraestructura SAB de CV | 4,718 | 78 | ||||
| Sigma Foods SAB de CV Class A | 66,979 | 75 | ||||
| 1 | Banco del Bajio SA | 21,655 | 72 | |||
| Regional SAB de CV | 6,778 | 64 | ||||
| Qualitas Controladora SAB de CV | 5,401 | 53 | ||||
| GCC SAB de CV | 4,473 | 52 | ||||
| Grupo Comercial Chedraui SA de CV | 7,808 | 50 | ||||
| Alsea SAB de CV | 13,138 | 46 | ||||
| Concentradora Fibra Danhos SA de CV | 23,933 | 38 | ||||
8
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| El Puerto de Liverpool SAB de CV | 5,330 | 33 | ||||
| * | Orbia Advance Corp. SAB de CV | 23,098 | 27 | |||
| * | Alpek SAB de CV Class A | 44,656 | 21 | |||
| Operadora De Sites Mexicanos SAB de CV | 21,818 | 19 | ||||
| Becle SAB de CV | 13,058 | 13 | ||||
| 6,890 | ||||||
| Philippines (0.7%) | ||||||
| International Container Terminal Services Inc. | 29,261 | 365 | ||||
| BDO Unibank Inc. | 60,981 | 145 | ||||
| Bank of the Philippine Islands | 50,486 | 101 | ||||
| SM Prime Holdings Inc. | 270,079 | 101 | ||||
| Ayala Corp. | 7,750 | 81 | ||||
| PLDT Inc. | 2,856 | 69 | ||||
| Ayala Land Inc. | 180,996 | 65 | ||||
| Metropolitan Bank & Trust Co. | 47,920 | 64 | ||||
| Manila Electric Co. | 5,400 | 60 | ||||
| Jollibee Foods Corp. | 12,452 | 46 | ||||
| JG Summit Holdings Inc. | 76,375 | 40 | ||||
| Universal Robina Corp. | 22,679 | 31 | ||||
| GT Capital Holdings Inc. | 2,502 | 29 | ||||
| Aboitiz Power Corp. | 33,479 | 26 | ||||
| Globe Telecom Inc. | 817 | 25 | ||||
| Puregold Price Club Inc. | 26,439 | 19 | ||||
| Converge Information & Communications Technology Solutions Inc. | 66,837 | 17 | ||||
| DMCI Holdings Inc. | 95,349 | 16 | ||||
| LT Group Inc. | 52,882 | 14 | ||||
| 1 | Monde Nissin Corp. | 120,813 | 14 | |||
| ACEN Corp. | 262,385 | 13 | ||||
| Semirara Mining & Power Corp. Class A | 22,202 | 11 | ||||
| Megaworld Corp. | 229,295 | 9 | ||||
| Bloomberry Resorts Corp. | 92,569 | 4 | ||||
| 1,365 | ||||||
| Qatar (1.1%) | ||||||
| Qatar National Bank QPSC | 117,137 | 622 | ||||
| Qatar Islamic Bank QPSC | 48,700 | 317 | ||||
| Industries Qatar QSC | 53,358 | 177 | ||||
| Commercial Bank PSQC | 90,629 | 121 | ||||
| Al Rayan Bank | 165,879 | 106 | ||||
| Qatar Gas Transport Co. Ltd. | 73,464 | 99 | ||||
| Ooredoo QPSC | 25,021 | 93 | ||||
| Qatar Navigation QSC | 26,677 | 82 | ||||
| Qatar International Islamic Bank QSC | 23,510 | 73 | ||||
| Qatar Fuel QSC | 15,849 | 64 | ||||
| Dukhan Bank | 55,710 | 55 | ||||
| Nebras Energy | 13,369 | 54 | ||||
| Mesaieed Petrochemical Holding Co. | 142,368 | 41 | ||||
| Barwa Real Estate Co. | 57,416 | 40 | ||||
| Qatar Aluminum Manufacturing Co. | 74,664 | 36 | ||||
| * | Vodafone Qatar PQSC | 43,231 | 32 | |||
| * | Estithmar Holding QPSC | 24,261 | 25 | |||
| * | Ezdan Holding Group QSC | 42,780 | 11 | |||
| 2,048 | ||||||
| Romania (0.2%) | ||||||
| Banca Transilvania SA | 25,232 | 202 | ||||
| OMV Petrom SA | 414,938 | 94 | ||||
| Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA | 2,351 | 79 | ||||
| Societatea Energetica Electrica SA | 3,939 | 28 | ||||
| Societatea Nationala Nuclearelectrica SA | 1,422 | 22 | ||||
| * | MED Life SA | 6,609 | 20 | |||
| One United Properties SA | 973 | 8 | ||||
| 453 | ||||||
| Saudi Arabia (4.6%) | ||||||
| Al Rajhi Bank | 52,755 | 1,415 | ||||
| 1 | Saudi Arabian Oil Co. | 159,867 | 1,065 | |||
| Saudi National Bank | 78,362 | 868 | ||||
| * | Saudi Arabian Mining Co. | 36,193 | 676 | |||
| Saudi Telecom Co. | 50,709 | 565 | ||||
| Saudi Basic Industries Corp. | 24,195 | 350 | ||||
9
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Riyad Bank | 39,389 | 291 | ||||
| * | ACWA Power Co. | 6,071 | 268 | |||
| Alinma Bank | 32,790 | 244 | ||||
| Saudi Awwal Bank | 26,568 | 242 | ||||
| SABIC Agri-Nutrients Co. | 6,277 | 207 | ||||
| Etihad Etisalat Co. | 10,112 | 173 | ||||
| Banque Saudi Fransi | 32,540 | 172 | ||||
| Dr Sulaiman Al Habib Medical Services Group Co. | 2,748 | 169 | ||||
| Almarai Co. JSC | 13,165 | 140 | ||||
| Bank AlBilad | 19,716 | 134 | ||||
| Arab National Bank | 23,713 | 130 | ||||
| Elm Co. | 650 | 111 | ||||
| Bupa Arabia for Cooperative Insurance Co. | 2,086 | 99 | ||||
| * | Umm Al Qura for Development & Construction Co. | 18,877 | 83 | |||
| * | Dar Al Arkan Real Estate Development Co. | 14,334 | 76 | |||
| Saudi Electricity Co. | 20,718 | 75 | ||||
| Co. for Cooperative Insurance | 1,959 | 71 | ||||
| * | Jabal Omar Development Co. | 15,515 | 61 | |||
| Jarir Marketing Co. | 16,044 | 60 | ||||
| Saudi Investment Bank | 16,327 | 59 | ||||
| Riyadh Cables Group Co. | 1,759 | 55 | ||||
| Makkah Construction & Development Co. | 2,645 | 55 | ||||
| Bank Al-Jazira | 16,507 | 51 | ||||
| Yanbu National Petrochemical Co. | 7,322 | 49 | ||||
| Saudi Tadawul Group Holding Co. | 1,293 | 47 | ||||
| SAL Saudi Logistics Services | 1,048 | 45 | ||||
| Ades Holding Co. | 9,099 | 43 | ||||
| Mouwasat Medical Services Co. | 2,473 | 42 | ||||
| Aldrees Petroleum & Transport Services Co. | 1,315 | 41 | ||||
| Sahara International Petrochemical Co. | 9,404 | 35 | ||||
| Mobile Telecommunications Co. Saudi Arabia | 11,478 | 35 | ||||
| Astra Industrial Group Co. | 1,010 | 34 | ||||
| Dallah Healthcare Co. | 1,265 | 33 | ||||
| Arabian Internet & Communications Services Co. | 664 | 33 | ||||
| Saudi Aramco Base Oil Co. | 1,362 | 33 | ||||
| Taiba Investments Co. | 3,500 | 32 | ||||
| Saudi Industrial Investment Group | 8,784 | 30 | ||||
| 1 | Arabian Centres Co. | 6,179 | 30 | |||
| Nahdi Medical Co. | 1,042 | 28 | ||||
| Jamjoom Pharmaceuticals Factory Co. | 759 | 27 | ||||
| * | Al Rajhi Co. for Co-operative Insurance | 1,319 | 26 | |||
| * | Saudi Kayan Petrochemical Co. | 19,461 | 25 | |||
| Saudi Cement Co. | 2,621 | 23 | ||||
| * | Savola Group | 3,913 | 23 | |||
| * | Saudi Research & Media Group | 1,052 | 23 | |||
| United Electronics Co. | 1,048 | 23 | ||||
| * | Seera Group Holding | 3,804 | 23 | |||
| Catrion Catering Holding Co. | 1,118 | 23 | ||||
| Saudia Dairy & Foodstuff Co. | 424 | 22 | ||||
| * | Advanced Petrochemical Co. | 3,495 | 22 | |||
| * | Rabigh Refining & Petrochemical Co. | 11,186 | 22 | |||
| Saudi Ground Services Co. | 2,558 | 22 | ||||
| Qassim Cement Co. | 1,833 | 21 | ||||
| * | flynas Co. SJSC | 1,361 | 21 | |||
| * | National Industrialization Co. | 9,055 | 20 | |||
| Abdullah Al Othaim Markets Co. | 11,768 | 19 | ||||
| Yamama Cement Co. | 2,709 | 18 | ||||
| Arabian Drilling Co. | 725 | 17 | ||||
| * | Power & Water Utility Co. for Jubail & Yanbu | 2,018 | 17 | |||
| * | Arabian Contracting Services Co. | 515 | 15 | |||
| Leejam Sports Co. JSC | 646 | 14 | ||||
| * | Saudi Real Estate Co. | 3,784 | 13 | |||
| * | Emaar Economic City | 5,433 | 12 | |||
| Dr Soliman Abdel Kader Fakeeh Hospital Co. | 1,487 | 12 | ||||
| BinDawood Holding Co. | 6,477 | 8 | ||||
| 9,066 | ||||||
| South Africa (6.7%) | ||||||
| Anglogold Ashanti plc | 13,540 | 1,732 | ||||
| Gold Fields Ltd. | 24,087 | 1,412 | ||||
10
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Naspers Ltd. | 20,511 | 1,141 | ||||
| FirstRand Ltd. | 142,930 | 891 | ||||
| Valterra Platinum Ltd. | 7,115 | 835 | ||||
| Standard Bank Group Ltd. | 34,854 | 702 | ||||
| Capitec Bank Holdings Ltd. | 2,287 | 681 | ||||
| MTN Group Ltd. | 44,377 | 577 | ||||
| Impala Platinum Holdings Ltd. | 24,131 | 536 | ||||
| Absa Group Ltd. | 20,600 | 352 | ||||
| Harmony Gold Mining Co. Ltd. | 14,728 | 335 | ||||
| * | Sibanye Stillwater Ltd. | 74,490 | 331 | |||
| Sanlam Ltd. | 43,185 | 288 | ||||
| Northam Platinum Holdings Ltd. | 9,497 | 260 | ||||
| Bid Corp. Ltd. | 9,061 | 240 | ||||
| Discovery Ltd. | 14,491 | 237 | ||||
| Nedbank Group Ltd. | 11,962 | 237 | ||||
| Shoprite Holdings Ltd. | 12,592 | 209 | ||||
| Remgro Ltd. | 13,454 | 164 | ||||
| 1 | Pepkor Holdings Ltd. | 94,097 | 157 | |||
| NEPI Rockcastle NV | 16,618 | 155 | ||||
| * | Sasol Ltd. | 16,870 | 154 | |||
| Bidvest Group Ltd. | 8,695 | 138 | ||||
| Old Mutual Ltd. | 126,581 | 131 | ||||
| Vodacom Group Ltd. | 12,458 | 127 | ||||
| Reinet Investments SCA | 3,561 | 125 | ||||
| Clicks Group Ltd. | 6,174 | 124 | ||||
| OUTsurance Group Ltd. | 23,041 | 106 | ||||
| Growthpoint Properties Ltd. | 87,188 | 103 | ||||
| Tiger Brands Ltd. | 4,888 | 98 | ||||
| Woolworths Holdings Ltd. | 24,119 | 83 | ||||
| Aspen Pharmacare Holdings Ltd. | 9,634 | 82 | ||||
| Mr. Price Group Ltd. | 6,939 | 80 | ||||
| Exxaro Resources Ltd. | 6,289 | 78 | ||||
| African Rainbow Minerals Ltd. | 3,153 | 50 | ||||
| Investec Ltd. | 5,552 | 48 | ||||
| Foschini Group Ltd. | 8,661 | 47 | ||||
| Kumba Iron Ore Ltd. | 1,465 | 34 | ||||
| Santam Ltd. | 992 | 27 | ||||
| 13,107 | ||||||
| Taiwan (36.7%) | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 643,704 | 40,166 | ||||
| Hon Hai Precision Industry Co. Ltd. | 327,199 | 2,503 | ||||
| MediaTek Inc. | 39,444 | 2,430 | ||||
| Delta Electronics Inc. | 51,819 | 2,337 | ||||
| ASE Technology Holding Co. Ltd. | 88,047 | 1,061 | ||||
| CTBC Financial Holding Co. Ltd. | 473,613 | 842 | ||||
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 2,000 | 749 | ||||
| Fubon Financial Holding Co. Ltd. | 223,744 | 671 | ||||
| Quanta Computer Inc. | 70,793 | 650 | ||||
| United Microelectronics Corp. | 312,876 | 647 | ||||
| Cathay Financial Holding Co. Ltd. | 251,043 | 637 | ||||
| Accton Technology Corp. | 13,300 | 585 | ||||
| Elite Material Co. Ltd. | 7,559 | 579 | ||||
| Unimicron Technology Corp. | 35,795 | 541 | ||||
| Asia Vital Components Co. Ltd. | 8,694 | 478 | ||||
| TS Financial Holding Co. Ltd. | 583,486 | 475 | ||||
| E.Sun Financial Holding Co. Ltd. | 411,615 | 462 | ||||
| Yuanta Financial Holding Co. Ltd. | 292,528 | 456 | ||||
| Chunghwa Telecom Co. Ltd. | 102,473 | 441 | ||||
| Chroma ATE Inc. | 9,901 | 430 | ||||
| Mega Financial Holding Co. Ltd. | 316,867 | 408 | ||||
| Yageo Corp. | 41,659 | 390 | ||||
| Nan Ya Plastics Corp. | 132,151 | 383 | ||||
| Wiwynn Corp. | 2,778 | 349 | ||||
| Wistron Corp. | 81,130 | 347 | ||||
| SinoPac Financial Holdings Co. Ltd. | 319,944 | 337 | ||||
| * | Winbond Electronics Corp. | 83,751 | 319 | |||
| King Yuan Electronics Co. Ltd. | 30,636 | 315 | ||||
| Asustek Computer Inc. | 18,323 | 310 | ||||
| Uni-President Enterprises Corp. | 132,155 | 306 | ||||
11
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Hua Nan Financial Holdings Co. Ltd. | 249,816 | 303 | ||||
| KGI Financial Holding Co. Ltd. | 422,706 | 295 | ||||
| Lite-On Technology Corp. | 52,121 | 284 | ||||
| First Financial Holding Co. Ltd. | 291,182 | 278 | ||||
| * | Nanya Technology Corp. | 30,144 | 268 | |||
| ASPEED Technology Inc. | 813 | 251 | ||||
| Gold Circuit Electronics Ltd. | 8,994 | 234 | ||||
| Alchip Technologies Ltd. | 2,132 | 233 | ||||
| Jentech Precision Industrial Co. Ltd. | 2,232 | 218 | ||||
| Taiwan Cooperative Financial Holding Co. Ltd. | 281,304 | 215 | ||||
| Bizlink Holding Inc. | 4,785 | 211 | ||||
| Largan Precision Co. Ltd. | 2,580 | 207 | ||||
| * | Powerchip Semiconductor Manufacturing Corp. | 86,515 | 207 | |||
| China Steel Corp. | 303,445 | 201 | ||||
| Realtek Semiconductor Corp. | 13,085 | 200 | ||||
| Global Unichip Corp. | 2,224 | 195 | ||||
| Novatek Microelectronics Corp. | 15,499 | 193 | ||||
| Formosa Plastics Corp. | 112,473 | 184 | ||||
| Evergreen Marine Corp. Taiwan Ltd. | 29,046 | 182 | ||||
| PharmaEssentia Corp. | 7,601 | 176 | ||||
| Innolux Corp. | 197,322 | 167 | ||||
| King Slide Works Co. Ltd. | 1,524 | 164 | ||||
| Powertech Technology Inc. | 18,566 | 151 | ||||
| TCC Group Holdings Co. Ltd. | 179,024 | 151 | ||||
| Formosa Chemicals & Fibre Corp. | 89,841 | 145 | ||||
| eMemory Technology Inc. | 1,819 | 145 | ||||
| Airtac International Group | 3,762 | 144 | ||||
| Far EasTone Telecommunications Co. Ltd. | 47,537 | 140 | ||||
| Hotai Motor Co. Ltd. | 7,520 | 140 | ||||
| Chang Hwa Commercial Bank Ltd. | 198,915 | 137 | ||||
| * | Caliway Biopharmaceuticals Co. Ltd. | 26,662 | 137 | |||
| International Games System Co. Ltd. | 6,003 | 133 | ||||
| Chailease Holding Co. Ltd. | 39,826 | 132 | ||||
| Advantech Co. Ltd. | 12,395 | 131 | ||||
| Taiwan Mobile Co. Ltd. | 37,747 | 130 | ||||
| Shanghai Commercial & Savings Bank Ltd. | 102,133 | 130 | ||||
| Fortune Electric Co. Ltd. | 3,867 | 130 | ||||
| E Ink Holdings Inc. | 21,640 | 128 | ||||
| Zhen Ding Technology Holding Ltd. | 19,346 | 128 | ||||
| Lotes Co. Ltd. | 2,247 | 126 | ||||
| Pegatron Corp. | 51,939 | 122 | ||||
| Vanguard International Semiconductor Corp. | 27,922 | 118 | ||||
| Compal Electronics Inc. | 113,455 | 114 | ||||
| Gigabyte Technology Co. Ltd. | 14,500 | 110 | ||||
| WT Microelectronics Co. Ltd. | 18,506 | 108 | ||||
| President Chain Store Corp. | 14,272 | 102 | ||||
| Inventec Corp. | 69,102 | 101 | ||||
| Taiwan Business Bank | 190,905 | 100 | ||||
| Globalwafers Co. Ltd. | 6,850 | 99 | ||||
| Nan Ya Printed Circuit Board Corp. | 5,716 | 99 | ||||
| Teco Electric & Machinery Co. Ltd. | 37,430 | 98 | ||||
| Win Semiconductors Corp. | 9,231 | 98 | ||||
| Walsin Lihwa Corp. | 82,589 | 96 | ||||
| WPG Holdings Ltd. | 39,801 | 89 | ||||
| Catcher Technology Co. Ltd. | 14,379 | 88 | ||||
| Eva Airways Corp. | 71,597 | 87 | ||||
| Yang Ming Marine Transport Corp. | 46,752 | 86 | ||||
| AUO Corp. | 159,858 | 84 | ||||
| Wan Hai Lines Ltd. | 32,302 | 79 | ||||
| Silergy Corp. | 8,897 | 79 | ||||
| Synnex Technology International Corp. | 33,066 | 76 | ||||
| Far Eastern New Century Corp. | 81,052 | 75 | ||||
| Asia Cement Corp. | 62,188 | 71 | ||||
| Acer Inc. | 77,432 | 68 | ||||
| Eclat Textile Co. Ltd. | 5,017 | 67 | ||||
| Chicony Electronics Co. Ltd. | 16,432 | 66 | ||||
| Pou Chen Corp. | 60,749 | 60 | ||||
| Hiwin Technologies Corp. | 8,009 | 58 | ||||
| Nien Made Enterprise Co. Ltd. | 4,500 | 58 | ||||
| Formosa Petrochemical Corp. | 31,929 | 56 | ||||
12
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Micro-Star International Co. Ltd. | 18,356 | 55 | ||||
| Sino-American Silicon Products Inc. | 14,695 | 55 | ||||
| Voltronic Power Technology Corp. | 1,819 | 53 | ||||
| Cheng Shin Rubber Industry Co. Ltd. | 50,714 | 51 | ||||
| * | Taiwan Glass Industry Corp. | 26,396 | 51 | |||
| Shihlin Electric & Engineering Corp. | 6,796 | 51 | ||||
| China Airlines Ltd. | 75,582 | 50 | ||||
| Foxconn Technology Co. Ltd. | 26,680 | 50 | ||||
| Eternal Materials Co. Ltd. | 21,936 | 48 | ||||
| Taiwan High Speed Rail Corp. | 55,030 | 48 | ||||
| Capital Securities Corp. | 44,012 | 45 | ||||
| ASMedia Technology Inc. | 1,005 | 42 | ||||
| Ruentex Development Co. Ltd. | 41,662 | 39 | ||||
| Walsin Technology Corp. | 7,606 | 37 | ||||
| Feng TAY Enterprise Co. Ltd. | 12,033 | 36 | ||||
| Tatung Co. Ltd. | 30,426 | 36 | ||||
| Parade Technologies Ltd. | 2,015 | 35 | ||||
| Transcend Information Inc. | 5,059 | 33 | ||||
| Genius Electronic Optical Co. Ltd. | 2,272 | 32 | ||||
| Advanced Energy Solution Holding Co. Ltd. | 814 | 31 | ||||
| Far Eastern International Bank | 67,472 | 28 | ||||
| * | HTC Corp. | 17,955 | 26 | |||
| Taiwan Fertilizer Co. Ltd. | 16,692 | 25 | ||||
| U-Ming Marine Transport Corp. | 11,339 | 24 | ||||
| Taiwan Secom Co. Ltd. | 6,746 | 23 | ||||
| Giant Manufacturing Co. Ltd. | 8,482 | 22 | ||||
| * | Oneness Biotech Co. Ltd. | 8,613 | 16 | |||
| Yulon Motor Co. Ltd. | 15,291 | 15 | ||||
| momo.com Inc. | 2,380 | 15 | ||||
| China Motor Corp. | 7,055 | 13 | ||||
| Formosa Sumco Technology Corp. | 1,605 | 7 | ||||
| 71,632 | ||||||
| Thailand (2.4%) | ||||||
| Delta Electronics Thailand PCL (Foreign) | 77,031 | 690 | ||||
| PTT PCL (Foreign) | 328,316 | 391 | ||||
| Advanced Info Service PCL (Foreign) | 28,482 | 348 | ||||
| Kasikornbank PCL (Foreign) | 46,823 | 303 | ||||
| * | Gulf Development PCL (Foreign) | 142,000 | 283 | |||
| CP ALL PCL (Foreign) | 143,747 | 239 | ||||
| SCB X PCL (Foreign) | 45,142 | 216 | ||||
| Bangkok Dusit Medical Services PCL (Foreign) | 287,859 | 200 | ||||
| Airports of Thailand PCL (Foreign) | 100,723 | 176 | ||||
| Krung Thai Bank PCL (Foreign) | 157,737 | 174 | ||||
| PTT Exploration & Production PCL (Foreign) | 35,532 | 157 | ||||
| Central Pattana PCL (Foreign) | 66,959 | 151 | ||||
| Siam Cement PCL (Foreign) | 18,391 | 133 | ||||
| Bumrungrad Hospital PCL (Foreign) | 15,323 | 105 | ||||
| Bangkok Bank PCL (Foreign) | 15,728 | 90 | ||||
| Minor International PCL (Foreign) | 100,657 | 84 | ||||
| True Corp. PCL (Foreign) | 179,436 | 84 | ||||
| TMBThanachart Bank PCL (Foreign) | 1,040,761 | 79 | ||||
| Charoen Pokphand Foods PCL (Foreign) | 95,657 | 65 | ||||
| PTT Global Chemical PCL (Foreign) | 60,650 | 55 | ||||
| Thai Oil PCL (Foreign) | 28,301 | 50 | ||||
| Central Retail Corp. PCL (Foreign) | 69,794 | 46 | ||||
| Digital Telecommunications Infrastructure Fund | 135,931 | 42 | ||||
| Banpu PCL (Foreign) | 199,940 | 37 | ||||
| True Corp. PCL NVDR | 77,158 | 36 | ||||
| Indorama Ventures PCL (Foreign) | 47,952 | 35 | ||||
| Krungthai Card PCL (Foreign) | 28,729 | 31 | ||||
| Bangkok Expressway & Metro PCL (Foreign) | 146,339 | 30 | ||||
| Home Product Center PCL (Foreign) | 120,534 | 29 | ||||
| PTT Oil & Retail Business PCL (Foreign) | 65,533 | 28 | ||||
| Land & Houses PCL (Foreign) | 178,372 | 25 | ||||
| Thai Union Group PCL (Foreign) | 63,529 | 25 | ||||
| Global Power Synergy PCL (Foreign) | 15,970 | 22 | ||||
| CP Axtra PCL (Foreign) | 39,972 | 22 | ||||
| Muangthai Capital PCL (Foreign) | 16,933 | 20 | ||||
| Ratch Group PCL (Foreign) | 20,462 | 20 | ||||
13
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Osotspa PCL (Foreign) | 35,252 | 19 | ||||
| Electricity Generating PCL (Foreign) | 4,599 | 18 | ||||
| SCG Packaging PCL (Foreign) | 25,626 | 17 | ||||
| Thai Life Insurance PCL (Foreign) | 49,486 | 17 | ||||
| * | BTS Group Holdings PCL (Foreign) | 205,546 | 16 | |||
| Asset World Corp. PCL (Foreign) | 187,752 | 15 | ||||
| Carabao Group PCL (Foreign) | 8,563 | 13 | ||||
| Berli Jucker PCL (Foreign) | 17,589 | 9 | ||||
| Siam City Cement PCL (Foreign) | 1,042 | 5 | ||||
| 4,650 | ||||||
| Turkiye (1.4%) | ||||||
| Aselsan Elektronik Sanayi ve Ticaret A/S | 32,228 | 236 | ||||
| BIM Birlesik Magazalar A/S | 12,075 | 184 | ||||
| Akbank TAS | 85,730 | 176 | ||||
| KOC Holding A/S | 33,416 | 152 | ||||
| Turkiye Petrol Rafinerileri A/S | 27,509 | 137 | ||||
| Turk Hava Yollari AO | 18,339 | 129 | ||||
| Turkcell Iletisim Hizmetleri A/S | 38,433 | 102 | ||||
| Haci Omer Sabanci Holding A/S | 43,600 | 100 | ||||
| * | Yapi ve Kredi Bankasi A/S | 98,152 | 97 | |||
| Turkiye Is Bankasi A/S Class C | 248,643 | 96 | ||||
| Eregli Demir ve Celik Fabrikalari TAS | 117,918 | 88 | ||||
| Turkiye Garanti Bankasi A/S | 19,844 | 73 | ||||
| * | Destek Finans Faktoring A/S | 1,848 | 63 | |||
| Enka Insaat ve Sanayi A/S | 23,481 | 54 | ||||
| Ford Otomotiv Sanayi A/S | 18,004 | 48 | ||||
| * | Kiler Holding A/S | 6,392 | 45 | |||
| Astor Transformator Enerji Turizm Insaat ve Petrol Sanayi Ticaret A/S | 9,896 | 42 | ||||
| Coca-Cola Icecek A/S | 21,082 | 34 | ||||
| * | TAV Havalimanlari Holding A/S | 4,737 | 33 | |||
| Migros Ticaret A/S | 2,228 | 33 | ||||
| Turkiye Sise ve Cam Fabrikalari A/S | 28,513 | 29 | ||||
| Emlak Konut Gayrimenkul Yatirim Ortakligi A/S | 49,295 | 27 | ||||
| * | Pasifik Eurasia Lojistik Dis Ticaret A/S | 9,655 | 27 | |||
| * | Turk Altin Isletmeleri A/S | 18,045 | 25 | |||
| * | Gubre Fabrikalari TAS | 1,941 | 24 | |||
| Tofas Turk Otomobil Fabrikasi A/S | 3,247 | 24 | ||||
| * | Pegasus Hava Tasimaciligi A/S | 5,026 | 23 | |||
| AG Anadolu Grubu Holding A/S | 29,223 | 22 | ||||
| Anadolu Efes Biracilik ve Malt Sanayii A/S Class B | 47,558 | 21 | ||||
| * | Margun Enerji Uretim Sanayi ve Ticaret A/S | 18,757 | 21 | |||
| *,1 | MLP Saglik Hizmetleri A/S | 2,028 | 20 | |||
| * | Sasa Polyester Sanayi A/S | 335,757 | 19 | |||
| * | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class A | 26,030 | 18 | |||
| * | TR Anadolu Metal Madencilik Isletmeleri A/S | 4,498 | 17 | |||
| * | Turkiye Vakiflar Bankasi TAO | 18,530 | 17 | |||
| * | Turkiye Halk Bankasi A/S | 15,364 | 17 | |||
| * | Ufuk Yatirim Yonetim ve Gayrimenkul A/S | 501 | 17 | |||
| * | Arcelik A/S | 6,061 | 16 | |||
| * | Turk Telekomunikasyon A/S | 10,467 | 16 | |||
| 1 | Mavi Giyim Sanayi ve Ticaret A/S Class B | 13,136 | 14 | |||
| * | Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A/S | 930 | 14 | |||
| Enerya Enerji A/S | 60,058 | 14 | ||||
| * | Tera Yatirim Menkul Degerler A/S | 2,285 | 14 | |||
| * | Petkim Petrokimya Holding A/S | 33,899 | 13 | |||
| LDR Turizm A/S | 6,870 | 13 | ||||
| * | Reysas Tasimacilik ve Lojistik Ticaret A/S | 28,947 | 13 | |||
| * | Kuyumcukent Gayrimenkul Yatirimlari A/S | 7,914 | 13 | |||
| 1 | Enerjisa Enerji A/S | 4,894 | 12 | |||
| Oyak Cimento Fabrikalari A/S | 21,033 | 12 | ||||
| Turkiye Sigorta A/S | 44,794 | 12 | ||||
| Is Yatirim Menkul Degerler A/S | 11,196 | 12 | ||||
| * | Ral Yatirim Holding A/S | 3,403 | 12 | |||
| Ulker Biskuvi Sanayi A/S | 4,071 | 11 | ||||
| Ziraat Gayrimenkul Yatirim Ortakligi A/S | 20,593 | 11 | ||||
| * | Reysas Gayrimenkul Yatirim Ortakligi A/S | 14,240 | 10 | |||
| Dogus Otomotiv Servis ve Ticaret A/S | 1,718 | 9 | ||||
| EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S | 3,255 | 9 | ||||
| * | Sok Marketler Ticaret A/S | 6,404 | 9 | |||
14
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Anadolu Anonim Turk Sigorta Sirketi | 14,666 | 9 | ||||
| * | Baticim Bati Anadolu Cimento Sanayii A/S | 70,172 | 9 | |||
| * | Lydia Holding A/S | 1,949 | 9 | |||
| Cimsa Cimento Sanayi ve Ticaret A/S | 6,950 | 8 | ||||
| * | Aksa Enerji Uretim A/S Class B | 5,176 | 8 | |||
| Borusan Yatirim ve Pazarlama A/S | 149 | 8 | ||||
| * | Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim A/S | 14,483 | 8 | |||
| Aygaz A/S | 1,167 | 7 | ||||
| Nuh Cimento Sanayi A/S | 1,090 | 7 | ||||
| Efor Yatirim Sanayi Ticaret A/S | 14,205 | 7 | ||||
| Aksa Akrilik Kimya Sanayii A/S | 26,887 | 6 | ||||
| Alarko Holding A/S | 2,718 | 6 | ||||
| Dogan Sirketler Grubu Holding A/S | 12,132 | 6 | ||||
| * | Otokar Otomotiv ve Savunma Sanayi A/S | 663 | 6 | |||
| * | Turkiye Sinai Kalkinma Bankasi A/S | 21,561 | 6 | |||
| TAB Gida Sanayi ve Ticaret A/S | 1,017 | 6 | ||||
| GUR-Sel Turizm Tasimacilik ve Servis Ticaret A/S | 687 | 6 | ||||
| Turk Traktor ve Ziraat Makineleri A/S | 408 | 5 | ||||
| Torunlar Gayrimenkul Yatirim Ortakligi A/S | 2,500 | 5 | ||||
| GEN Ilac ve Saglik Urunleri Sanayi ve Ticaret A/S | 28,047 | 5 | ||||
| * | MIA Teknoloji A/S | 5,930 | 5 | |||
| * | Lydia Yesil Enerji Kaynaklari Anonimsirketi | 15 | 5 | |||
| * | Grainturk Tarim A/S | 937 | 5 | |||
| * | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S | 5,737 | 4 | |||
| Tekfen Holding A/S | 2,168 | 4 | ||||
| * | Hektas Ticaret TAS | 62,467 | 4 | |||
| Selcuk Ecza Deposu Ticaret ve Sanayi A/S | 2,094 | 4 | ||||
| Vestel Beyaz Esya Sanayi ve Ticaret A/S | 23,444 | 4 | ||||
| * | Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret A/S | 5,141 | 4 | |||
| * | CW Enerji Muhendislik Ticaret ve Sanayi A/S | 5,681 | 4 | |||
| Akcansa Cimento A/S | 719 | 3 | ||||
| * | Is Gayrimenkul Yatirim Ortakligi A/S | 6,036 | 3 | |||
| * | Girsim Elektrik Sanayi Taahut ve Ticaret A/S | 2,775 | 3 | |||
| * | Politeknik Metal Sanayi ve Ticaret A/S | 23 | 3 | |||
| Anadolu Hayat Emeklilik A/S | 1,208 | 3 | ||||
| * | Altinay Savunma Teknolojileri A/S | 6,830 | 3 | |||
| Agesa Hayat ve Emeklilik A/S | 673 | 3 | ||||
| EGE Endustri ve Ticaret A/S | 10 | 2 | ||||
| * | NET Holding A/S | 1,459 | 2 | |||
| Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A/S | 1,434 | 2 | ||||
| Eczacibasi Yatirim Holding Ortakligi A/S | 369 | 2 | ||||
| * | Investco Holding A/S | 375 | 2 | |||
| * | Gulermak Agir Sanayi Insaat ve Taahhut A/S | 600 | 2 | |||
| Brisa Bridgestone Sabanci Sanayi ve Ticaret A/S | 290 | 1 | ||||
| * | Zorlu Enerji Elektrik Uretim A/S | 16,858 | 1 | |||
| Iskenderun Demir ve Celik A/S | 1,311 | 1 | ||||
| Kocaer Celik Sanayi ve Ticaret A/S | 4,454 | 1 | ||||
| * | Ozak Gayrimenkul Yatirim Ortakligi | 2,666 | 1 | |||
| Alfa Solar Enerji Sanayi ve Ticaret A/S | 538 | 1 | ||||
| * | Akfen Yenilenebilir Enerji A/S | 2,883 | 1 | |||
| Escar Turizm Tasimacilik Ticaret A/S | 1,638 | 1 | ||||
| Celebi Hava Servisi A/S | 27 | 1 | ||||
| Visne Madencilik Uretim Sanayi ve Ticaret A/S | 349 | 1 | ||||
| Ronesans Gayrimenkul Yatirim A/S Class B | 372 | 1 | ||||
| * | Konya Cimento Sanayii A/S | 4 | — | |||
| * | Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret A/S | 2,409 | — | |||
| * | Kaleseramik Canakkale Kalebodur Seramik Sanayi A/S | 762 | — | |||
| 2,773 | ||||||
| United Arab Emirates (2.6%) | ||||||
| Emaar Properties PJSC | 167,227 | 738 | ||||
| First Abu Dhabi Bank PJSC | 118,860 | 635 | ||||
| Emirates Telecommunications Group Co. PJSC | 93,572 | 517 | ||||
| Emirates NBD Bank PJSC | 48,642 | 437 | ||||
| Abu Dhabi Commercial Bank PJSC | 84,695 | 349 | ||||
| Aldar Properties PJSC | 102,349 | 301 | ||||
| Abu Dhabi Islamic Bank PJSC | 39,102 | 271 | ||||
| Dubai Electricity & Water Authority PJSC | 241,736 | 198 | ||||
| Dubai Islamic Bank PJSC | 77,652 | 175 | ||||
| Adnoc Gas plc | 184,983 | 171 | ||||
15
Emerging Markets Ex-China ETF
| Shares | Market Value• ($000) | |||||
| Emaar Development PJSC | 22,479 | 118 | ||||
| * | Alpha Dhabi Holding PJSC | 42,615 | 106 | |||
| ADNOC Drilling Co. PJSC | 70,702 | 98 | ||||
| Air Arabia PJSC | 60,859 | 90 | ||||
| Salik Co. PJSC | 50,446 | 88 | ||||
| Abu Dhabi National Oil Co. for Distribution PJSC | 77,907 | 85 | ||||
| * | Modon Holding PSC | 86,335 | 79 | |||
| ADNOC Logistics & Services | 43,535 | 65 | ||||
| Dubai Investments PJSC | 56,055 | 61 | ||||
| Borouge plc | 80,259 | 57 | ||||
| * | Two Point Zero Group PJSC | 106,078 | 57 | |||
| Agility Global plc | 151,228 | 57 | ||||
| Pure Health Holding PJSC | 60,835 | 43 | ||||
| Americana Restaurants International plc - Foreign Co. | 76,184 | 39 | ||||
| NMDC Group PJSC | 5,993 | 34 | ||||
| Parkin Co. PJSC | 20,385 | 33 | ||||
| * | Abu Dhabi Ports Co. PJSC | 24,068 | 31 | |||
| Emirates Central Cooling Systems Corp. | 55,509 | 27 | ||||
| * | Apex Investment Co. PSC | 26,573 | 26 | |||
| Talabat Holding plc | 126,854 | 24 | ||||
| Lulu Retail Holdings plc | 81,015 | 24 | ||||
| Fertiglobe plc | 31,304 | 23 | ||||
| * | Presight AI Holding plc | 22,427 | 22 | |||
| Dubai Financial Market PJSC | 43,516 | 19 | ||||
| * | Phoenix Group plc | 74,434 | 18 | |||
| * | Space42 plc | 32,029 | 14 | |||
| * | Ghitha Holding PJSC | 1,094 | 5 | |||
| 5,135 | ||||||
| Total Common Stocks (Cost $173,226) | 189,578 | |||||
| Preferred Stocks (2.3%) | ||||||
| Itau Unibanco Holding SA Preference Shares | 146,483 | 1,337 | ||||
| Petroleo Brasileiro SA - Petrobras Preference Shares | 122,055 | 936 | ||||
| Banco Bradesco SA Preference Shares | 138,374 | 571 | ||||
| Itausa SA Preference Shares | 157,792 | 439 | ||||
| * | Sociedad Quimica y Minera de Chile SA Preference Shares Class B | 3,801 | 290 | |||
| Grupo Cibest SA Preference Shares | 12,137 | 206 | ||||
| Gerdau SA Preference Shares | 33,984 | 139 | ||||
| * | Axia Energia Preference Shares Class C | 9,847 | 113 | |||
| Cia Energetica de Minas Gerais Preference Shares | 40,701 | 96 | ||||
| Axia Energia Preference Shares Class B | 5,912 | 77 | ||||
| Embotelladora Andina SA Preference Shares Class B | 11,273 | 54 | ||||
| Isa Energia Brasil SA Preference Shares | 7,639 | 43 | ||||
| Metalurgica Gerdau SA Preference Shares | 21,958 | 40 | ||||
| Grupo de Inversiones Suramericana SA Preference Shares | 2,753 | 34 | ||||
| * | Braskem SA Preference Shares Class A | 5,269 | 10 | |||
| * | Localiza Rent a Car SA Preference Shares | 935 | 9 | |||
| Total Preferred Stocks (Cost $3,786) | 4,394 | |||||
| Rights (0.0%) | ||||||
| * | Hypera SA Exp. 3/17/2026 (Cost $—) | 751 | — | |||
| Temporary Cash Investments (0.5%) | ||||||
| Money Market Fund (0.5%) | ||||||
| 3 | Vanguard Market Liquidity Fund, 3.693% (Cost $961) | 9,608 | 961 | |||
| Total Investments (99.9%) (Cost $177,973) | 194,933 | |||||
| Other Assets and Liabilities—Net (0.1%) | 273 | |||||
| Net Assets (100%) | 195,206 | |||||
| Cost is in $000. |
| • | See Note A in Notes to Financial Statements. |
| * | Non-income-producing security. |
| 1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2026, the aggregate value was $3,981, representing 2.0% of net assets. |
| 2 | Security value determined using significant unobservable inputs. |
| 3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| ADR—American Depositary Receipt. | |
| NVDR—Non-Voting Depositary Receipt. | |
| REIT—Real Estate Investment Trust. |
16
Emerging Markets Ex-China ETF
Derivative Financial
Instruments Outstanding as of Period End
| Forward Currency Contracts | |||||||
| Contract Settlement Date | Contract Amount (000) | Unrealized Appreciation ($000) | Unrealized (Depreciation) ($000) | ||||
| Counterparty | Receive | Deliver | |||||
| BNP Paribas | 3/18/2026 | INR | 5,644 | USD | 62 | — | — |
| State Street Bank & Trust Co. | 3/18/2026 | USD | 47 | BRL | 259 | — | (4) |
| BNP Paribas | 3/18/2026 | USD | 11 | BRL | 60 | — | (1) |
| State Street Bank & Trust Co. | 3/18/2026 | USD | 124 | INR | 11,280 | — | — |
| State Street Bank & Trust Co. | 3/18/2026 | USD | 28 | TWD | 872 | — | — |
| — | (5) | ||||||
| BRL—Brazilian real. |
| INR—Indian rupee. |
| TWD—Taiwanese dollar. |
| USD—U.S. dollar. |
See accompanying Notes,
which are an integral part of the Financial Statements.
17
Emerging Markets Ex-China ETF
Statement of Assets and Liabilities
As of February 28, 2026
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value | |
| Unaffiliated Issuers (Cost $177,012) | 193,972 |
| Affiliated Issuers (Cost $961) | 961 |
| Total Investments in Securities | 194,933 |
| Investment in Vanguard | 3 |
| Foreign Currency, at Value (Cost $336) | 337 |
| Cash Collateral Pledged—Futures Contracts | 40 |
| Receivables for Accrued Income | 157 |
| Unrealized Appreciation—Forward Currency Contracts | — |
| Total Assets | 195,470 |
| Liabilities | |
| Due to Broker | 150 |
| Payables for Investment Securities Purchased | 77 |
| Payables to Vanguard | 5 |
| Variation Margin Payable—Futures Contracts | 1 |
| Unrealized Depreciation—Forward Currency Contracts | 5 |
| Deferred Foreign Capital Gains Taxes | 26 |
| Total Liabilities | 264 |
| Net Assets | 195,206 |
At February 28, 2026, net assets consisted of: | |
| Paid-in Capital | 178,111 |
| Total Distributable Earnings (Loss) | 17,095 |
| Net Assets | 195,206 |
| Net Assets | |
| Applicable to 2,200,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 195,206 |
| Net Asset Value Per Share | $88.73 |
See accompanying Notes,
which are an integral part of the Financial Statements.
18
Emerging Markets Ex-China ETF
Statement of Operations
| September 30, 20251 to February 28, 2026 | |
| ($000) | |
| Investment Income | |
| Income | |
| Dividends2 | 505 |
| Interest3 | 26 |
| Total Income | 531 |
| Expenses | |
| The Vanguard Group—Note C | |
| Investment Advisory Services | 2 |
| Management and Administrative | 22 |
| Marketing and Distribution | 1 |
| Custodian Fees | 108 |
| Shareholders’ Reports | 2 |
| Trustees’ Fees and Expenses | — |
| Professional Services | 10 |
| Other Expenses | — |
| Total Expenses | 145 |
| Expense Reduction—Note C | (119) |
| Net Expenses | 26 |
| Net Investment Income | 505 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold3,4 | (210) |
| Futures Contracts | 217 |
| Forward Currency Contracts | (1) |
| Foreign Currencies | (70) |
| Realized Net Gain (Loss) | (64) |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities3,5 | 16,934 |
| Futures Contracts | 28 |
| Forward Currency Contracts | (5) |
| Foreign Currencies | 5 |
| Change in Unrealized Appreciation (Depreciation) | 16,962 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 17,403 |
| 1 | Inception. |
| 2 | Dividends are net of foreign withholding taxes of $63. |
| 3 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $24, ($1), and less than $1, respectively. Purchases and sales are for temporary cash investment purposes. |
| 4 | Realized Gain (Loss) is net of foreign capital gains taxes of $6. |
| 5 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of $26. |
See accompanying Notes,
which are an integral part of the Financial Statements.
19
Emerging Markets Ex-China ETF
Statement of Changes in Net Assets
| September 30, 20251 to February 28, 2026 | |
| ($000) | |
| Increase (Decrease) in Net Assets | |
| Operations | |
| Net Investment Income | 505 |
| Realized Net Gain (Loss) | (64) |
| Change in Unrealized Appreciation (Depreciation) | 16,962 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 17,403 |
| Distributions | |
| Total Distributions | (308) |
| Capital Share Transactions | |
| Issued | 178,111 |
| Issued in Lieu of Cash Distributions | — |
| Redeemed | — |
| Net Increase (Decrease) from Capital Share Transactions | 178,111 |
| Total Increase (Decrease) | 195,206 |
| Net Assets | |
| Beginning of Period | — |
| End of Period | 195,206 |
| 1 | Inception. |
See accompanying Notes,
which are an integral part of the Financial Statements.
20
Emerging Markets Ex-China ETF
Financial Highlights
| September 30, 20251 to February 28, 2026 | |
| For a Share Outstanding Throughout the Period | |
| Net Asset Value, Beginning of Period | $75.00 |
| Investment Operations | |
| Net Investment Income2 | .491 |
| Net Realized and Unrealized Gain (Loss) on Investments | 13.581 |
| Total from Investment Operations | 14.072 |
| Distributions | |
| Dividends from Net Investment Income | (.342) |
| Distributions from Realized Capital Gains | — |
| Total Distributions | (.342) |
| Net Asset Value, End of Period | $88.73 |
| Total Return | 18.83% |
| Ratios/Supplemental Data | |
| Net Assets, End of Period (Millions) | $195 |
| Ratio of Total Expenses to Average Net Assets | 0.07%3 |
| Ratio of Net Investment Income to Average Net Assets | 1.44% |
| Portfolio Turnover Rate4 | 6% |
| The expense ratio and net investment income ratio for the current period have been annualized. | |
| 1 | Inception. |
| 2 | Calculated based on average shares outstanding. |
| 3 | Vanguard and the board of trustees have agreed to temporarily assume certain expenses (representing an annual rate of 0.34% of the fund’s average net assets) to maintain a total expense ratio of 0.07%. The fund will not be required to reimburse Vanguard for these amounts. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
See accompanying Notes, which are an integral
part of the Financial Statements.
21
Emerging Markets Ex-China ETF
Notes to Financial Statements
Vanguard Emerging Markets
Ex-China ETF is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. ETF Shares are listed for trading on NYSE Arca; they can be purchased and sold through a
broker.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its
financial statements.
1. Security Valuation:
Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official
closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which
market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods
deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
These procedures include obtaining quotations
from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts,
or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value
may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
2. Foreign Currency:
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the
valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the
effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or
liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. Futures Contracts:
The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures
contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for
liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility
of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades
futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin
requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open
contracts are noted in the Schedule of Investments.
Futures contracts are valued
at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of
Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures
contracts.
During the period ended
February 28, 2026, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end
during the period.
4. Forward Currency
Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated with
these types of forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts.
The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting
arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be
repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts,
determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The
forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net
liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of
Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum
transfer amount, is adjusted and settled within two business days.
Forward currency contracts are
valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the
Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized
appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.
During the period ended
February 28, 2026, the fund’s average investment in forward currency contracts represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period.
22
Emerging Markets Ex-China ETF
5. Federal Income Taxes:
The fund intends to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration
of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax
years, and has concluded that no provision for income tax is required in the fund’s financial statements.
6. Distributions:
Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial
reporting purposes.
7. Credit Facility and
Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in an uncommitted credit facility provided by Vanguard, which may be renewed annually. Each fund is
individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing
restrictions. Any borrowings under the facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight
Financing Rate inclusive of an additional agreed-upon spread, or based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an
exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each
other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment
objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to
be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the period ended February
28, 2026, the fund did not utilize the credit facility or the Interfund Lending Program.
8. Other: Dividend
income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from
Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment
securities are those of the specific securities sold. Taxes on foreign dividends and capital gains have been provided for in accordance with the applicable countries’ tax rules and rates. Deferred foreign
capital gains tax, if any, is accrued daily based upon net unrealized gains.
B. Vanguard provides investment advisory services to the fund through its wholly owned subsidiary Vanguard Capital Management, LLC.
C. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate
management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines
approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard,
the fund may invest up to 0.40% of its net assets as capital in Vanguard. At February 28, 2026, the fund had contributed to Vanguard capital in the amount of $3,000, representing less than 0.01% of the fund’s
net assets and less than 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
Vanguard and the board of
trustees have agreed to temporarily assume certain expenses to maintain a total annual expense ratio of 0.07%. For the period ended February 28, 2026, the fund’s expenses were reduced by $119,000 (an effective
annual rate of 0.34% of the fund’s average net assets).
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The
inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant
unobservable inputs are noted on the Schedule of Investments.
23
Emerging Markets Ex-China ETF
The following table summarizes
the market value of the fund's investments and derivatives as of February 28, 2026, based on the inputs used to value them:
| Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
| Investments | ||||
| Assets | ||||
| Common Stocks | 17,809 | 171,757 | 12 | 189,578 |
| Preferred Stocks | 4,050 | 344 | — | 4,394 |
| Rights | — | — | — | — |
| Temporary Cash Investments | 961 | — | — | 961 |
| Total | 22,820 | 172,101 | 12 | 194,933 |
| Derivative Financial Instruments | ||||
| Assets | ||||
| Futures Contracts1 | 28 | — | — | 28 |
| Liabilities | ||||
| Forward Currency Contracts | — | (5) | — | (5) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. | |||
E. At February 28, 2026, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:
| Statement of Assets and Liabilities | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Unrealized Appreciation—Futures Contracts1 | 28 | — | 28 |
| Unrealized Appreciation—Forward Currency Contracts | — | — | — |
| Total Assets | 28 | — | 28 |
| Unrealized Depreciation—Forward Currency Contracts | — | (5) | (5) |
| Total Liabilities | — | (5) | (5) |
| 1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized net gain (loss) and
the change in unrealized appreciation (depreciation) on derivatives for the period ended February 28, 2026, were:
| Realized Net Gain (Loss) on Derivatives | Equity Contracts ($000) | Foreign Exchange Contracts ($000) | Total ($000) |
| Futures Contracts | 217 | — | 217 |
| Forward Currency Contracts | — | (1) | (1) |
| Realized Net Gain (Loss) on Derivatives | 217 | (1) | 216 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
| Futures Contracts | 28 | — | 28 |
| Forward Currency Contracts | — | (5) | (5) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | 28 | (5) | 23 |
F. As of February 28, 2026, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
| Amount ($000) | |
| Tax Cost | 178,122 |
| Gross Unrealized Appreciation | 21,296 |
| Gross Unrealized Depreciation | (4,462) |
| Net Unrealized Appreciation (Depreciation) | 16,834 |
G. During the period ended February 28, 2026, the fund purchased $156,972,000 of investment securities and sold $5,415,000 of investment securities, other than temporary cash investments. In
addition, the fund purchased and sold investment securities of $25,664,000 and $0, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.
24
Emerging Markets Ex-China ETF
H. Capital shares issued and redeemed were:
| September 30, 20251 to February 28, 2026 | |
| Shares (000) | |
| Issued | 2,200 |
| Issued in Lieu of Cash Distributions | — |
| Redeemed | — |
| Net Increase (Decrease) in Shares Outstanding | 2,200 |
| 1 | Inception. |
I. Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other
events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
To the extent the fund’s
investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to
increased price volatility and other risks.
The use of derivatives may
expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A
relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding
the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
J. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a
chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of
the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily
operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment
strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are
consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
K. Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these
financial statements.
QV0512 042026
25
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9: Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Not applicable. The Trustees’ Fees and Expenses are included in the financial statements filed under Item 7 of this Form.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contracts.
Trustees Approve Advisory Arrangement – Extended Duration Treasury Index Fund
A majority of independent trustees of the board of Vanguard Extended Duration Treasury Index Fund (Trustees) has approved a restructuring of the fund’s management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Capital Management LLC (VCM). The trustees determined that approving the advisory arrangements was in the best interests of the fund and its shareholders.
The Trustees based their decision upon an evaluation of VCM’s investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard’s Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee’s decisions.
Nature, extent, and quality of services
The Trustees considered the quality of the investment management services to be provided to the fund and took into account the organizational depth and stability of Vanguard and VCM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Fixed Income Group, now within VCM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. The Fixed Income Group emphasizes a disciplined and repeatable approach to risk-taking and security selection, with the objective of delivering tight tracking error and consistent, risk-adjusted alpha.
The Trustees concluded that VCM’s experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.
Investment performance
The Trustees determined that VCM’s Fixed Income Group, in its management of Vanguard funds, including the fund, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangement should be approved.
Cost
The Trustees concluded that the fund’s expense ratio will remain below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses will also continue to be below the peer-group average.
The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VCM because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The Trustees concluded that the fund’s arrangement with Vanguard, and services rendered through VCM, ensure that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The Trustees will consider whether to renew the advisory arrangement again after a one-year period.
Trustees Approve Advisory Arrangement – ESG U.S. Stock ETF
A majority of independent trustees of the board of Vanguard ESG U.S. Stock ETF (Trustees) has approved a restructuring of the fund’s management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Portfolio Management LLC (VPM). The trustees determined that approving the advisory arrangements was in the best interests of the fund and its shareholders.
The Trustees based their decision upon an evaluation of VPM’s investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard’s Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee’s decisions.
Nature, extent, and quality of services
The Trustees considered the quality of the investment management services to be provided to the fund and took into account the organizational depth and stability of Vanguard and VPM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Strategic Equity Index Management team (SE), now within VPM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. In its management of other Vanguard passive and active equity funds and portfolios, the team has a track record of consistent performance as a result of its disciplined investment processes. SE has specific expertise and experience managing U.S. style-box, sector, and smart-beta index strategies, effectively navigating index reconstitutions and mitigating transactions costs to deliver tight tracking error while opportunistically seeking to add excess returns through sophisticated trading strategies and superior access to corporate actions.
The Trustees concluded that VPM’s experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.
Investment performance
The Trustees determined that VPM’s Strategic Equity Index Management team, in its management of Vanguard funds, including the fund, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangement should be approved.
Cost
The Trustees concluded that the fund’s expense ratio will remain below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses will also continue to be below the peer-group average.
The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VPM because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The Trustees concluded that the fund’s arrangement with Vanguard, and services rendered through VPM, ensure that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The Trustees will consider whether to renew the advisory arrangement again after a one-year period.
Trustees Approve Advisory Arrangement – ESG International Stock ETF
A majority of independent trustees of the board of Vanguard ESG International Stock ETF (Trustees) has approved a restructuring of the fund’s management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Portfolio Management LLC (VPM). The trustees determined that approving the advisory arrangements was in the best interests of the fund and its shareholders.
The Trustees based their decision upon an evaluation of VPM’s investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard’s Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee’s decisions.
Nature, extent, and quality of services
The Trustees considered the quality of the investment management services to be provided to the fund and took into account the organizational depth and stability of Vanguard and VPM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Strategic Equity Index Management team (SE), now within VPM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. In its management of other Vanguard passive and active equity funds and portfolios, the team has a track record of consistent performance as a result of its disciplined investment processes. SE has specific expertise and experience managing U.S. style-box, sector, and smart-beta index strategies, effectively navigating index reconstitutions and mitigating transactions costs to deliver tight tracking error while opportunistically seeking to add excess returns through sophisticated trading strategies and superior access to corporate actions.
The Trustees concluded that VPM’s experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.
Investment performance
The Trustees determined that VPM’s Strategic Equity Index Management team, in its management of Vanguard funds, including the fund, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangement should be approved.
Cost
The Trustees concluded that the fund’s expense ratio will remain below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses will also continue to be below the peer-group average.
The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VPM because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The Trustees concluded that the fund’s arrangement with Vanguard, and services rendered through VPM, ensure that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The Trustees will consider whether to renew the advisory arrangement again after a one-year period.
Trustees Approve Advisory Arrangement – ESG U.S. Corporate Bond ETF
A majority of independent trustees of the board of Vanguard ESG U.S. Corporate Bond ETF (Trustees) has approved a restructuring of the fund’s management structure whereby the Vanguard Group, Inc. (Vanguard) will now provide investment advisory services to the fund through its subsidiary, Vanguard Capital Management LLC (VCM). The trustees determined that approving the advisory arrangements was in the best interests of the fund and its shareholders.
The Trustees based their decision upon an evaluation of VCM’s investment staff, portfolio management process, and performance. This evaluation included information provided by Vanguard’s Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Trustees considered the factors discussed below, among others. However, no single factor determined whether to approve the arrangement. Rather, it was the totality of the circumstances that drove the Trustee’s decisions.
Nature, extent, and quality of services
The Trustees considered the quality of the investment management services to be provided to the fund and took into account the organizational depth and stability of Vanguard and VCM. The Trustees considered that Vanguard has been managing investments for more than four decades. The Fixed Income Group, now within VCM, adheres to the same sound, disciplined investment management process and has considerable experience, stability and depth. The Fixed Income Group emphasizes a disciplined and repeatable approach to risk-taking and security selection, with the objective of delivering tight tracking error and consistent, risk-adjusted alpha.
The Trustees concluded that VCM’s experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.
Investment performance
The Trustees determined that VCM’s Fixed Income Group, in its management of Vanguard funds, including the fund, has a track record of consistent performance and disciplined investment processes. The Trustees concluded that the performance was such that the advisory arrangement should be approved.
Cost
The Trustees concluded that the fund’s expense ratio will remain below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses will also continue to be below the peer-group average.
The Trustees do not conduct a profitability analysis of Vanguard in providing investment advisory services through VCM because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The Trustees concluded that the fund’s arrangement with Vanguard, and services rendered through VCM, ensure that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The Trustees will consider whether to renew the advisory arrangement again after a one-year period.
Trustees Approve Advisory Arrangement – Global Wellesley Income Fund
A majority of independent trustees of the board of trustees of Vanguard Global Wellesley Income Fund has renewed the fund’s investment advisory arrangement with Wellington Management Company LLP (Wellington Management). The trustees determined that renewing the fund’s advisory arrangement was in the best interests of the fund and its shareholders.
The trustees based their decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the trustees by Vanguard’s Oversight and Manager Search team (OMS), which is responsible for fund and advisor oversight and product management. OMS met regularly with the advisor and made presentations to the trustees during the fiscal year that directed their focus to relevant information and topics.
The trustees also received information throughout the year during advisor presentations conducted by the Oversight and Manager Search team. For each advisor presentation, the trustees were provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the trustees received periodic reports throughout the year, which included information about each fund’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Oversight and Manager Search team’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the trustees approved the arrangement. Rather, it was the totality of the circumstances that drove the trustees’ decision.
Nature, extent, and quality of services
The trustees reviewed the quality of the fund’s investment management services provided to the fund since its inception in 2017; they also took into account the organizational depth and stability of the advisor. The trustees considered that Wellington Management, founded in 1928, is among the nation’s oldest and most respected institutional managers. For the equity portion of the fund, Wellington Management focuses on global companies whose stocks pay above-average levels of dividend income and are considered to have the potential for capital appreciation. The advisor primarily invests the fixed income portion of the fund in government and mortgage securities in addition to high-quality corporate bonds. The fund’s bond portion will maintain an intermediate-term duration. The equity sub-portfolio is focused on global companies whose stocks pay above-average levels of dividend income and are considered to have the potential for capital appreciation.
The trustees concluded that the advisor’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangement.
Investment performance
The trustees considered the short- and long-term performance of Wellington Management, including any periods of outperformance or underperformance compared with a relevant benchmark index and peer group. The trustees concluded that the performance was such that the advisory arrangement should continue.
Cost
The trustees concluded that the fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that the fund’s advisory fee rate was also below the peer-group average.
The trustees did not consider the profitability of Wellington Management in determining whether to approve the advisory fee, because Wellington Management is independent of Vanguard and the advisory fee is the result of arm’s-length negotiations.
The benefit of economies of scale
The trustees concluded that the fund’s shareholders benefit from economies of scale because of breakpoints in the fund’s advisory fee schedule with Wellington Management. The breakpoints reduce the effective rate of the fee as the fund’s assets increase.
The trustees will consider whether to renew the advisory arrangement again after a one-year period.
Trustees Approve Advisory Arrangement – Global Wellington Fund
A majority of independent trustees of the board of trustees of Vanguard Global Wellington Fund has renewed the fund’s investment advisory arrangement with Wellington Management Company LLP (Wellington Management). The trustees determined that renewing the fund’s advisory arrangement was in the best interests of the fund and its shareholders.
The trustees based their decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the trustees by Vanguard’s Oversight and Manager Search team (OMS), which is responsible for fund and advisor oversight and product management. OMS met regularly with the advisor and made presentations to the trustees during the fiscal year that directed their focus to relevant information and topics.
The trustees also received information throughout the year during advisor presentations conducted by the Oversight and Manager Search team. For each advisor presentation, the trustees were provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the trustees received periodic reports throughout the year, which included information about each fund’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Oversight and Manager Search team’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the trustees approved the arrangement. Rather, it was the totality of the circumstances that drove the trustees’ decision.
Nature, extent, and quality of services
The trustees reviewed the quality of the fund’s investment management services since its inception in 2017; they also took into account the organizational depth and stability of the advisor. The trustees considered that Wellington Management, founded in 1928, is among the nation’s oldest and most respected institutional managers. For the equity portion of the fund, Wellington Management focuses on high-quality companies in out-of-favor industries that generate superior returns. The equity subportfolio includes large- and mid-cap stocks, with a valuation discount, premium dividend yield, and market-like earnings growth. The advisor primarily invests the fixed income portion of the fund in government and mortgage securities in addition to high-quality corporate bonds. The fund’s bond portion will maintain an intermediate-term duration.
The trustees concluded that the advisor’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangement.
Investment performance
The trustees considered the short- and long-term performance of the fund, including any periods of outperformance or underperformance compared with a relevant benchmark index and peer group. The trustees concluded that the performance was such that the advisory arrangement should continue.
Cost
The trustees concluded that the fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that the fund’s advisory fee rate was also below the peer-group average.
The trustees did not consider the profitability of Wellington Management in determining whether to approve the advisory fee, because Wellington Management is independent of Vanguard and the advisory fee is the result of arm’s-length negotiations.
The benefit of economies of scale
The trustees concluded that the fund’s shareholders benefit from economies of scale because of breakpoints in the fund’s advisory fee schedule with Wellington Management. The breakpoints reduce the effective rate of the fee as the fund’s assets increase.
The trustees will consider whether to renew the advisory arrangement again after a one-year period.
Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 16: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no changes in the Registrant’s Internal Control Over Financial Reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 17: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18: Recovery of Erroneously Awarded Compensation
Not applicable.
Item 19: Exhibits.
| (a)(1) | Not applicable. | |
| (a)(2) | Certifications filed herewith. | |
| (a)(2) | Certifications filed herewith. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VANGUARD WORLD FUND | |||
| BY: | /s/ SALIM RAMJI* | ||
| SALIM RAMJI | |||
| CHIEF EXECUTIVE OFFICER | |||
Date: April 22, 2026
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| VANGUARD WORLD FUND | |||
| BY: | /s/ SALIM RAMJI* | ||
| SALIM RAMJI | |||
| CHIEF EXECUTIVE OFFICER | |||
Date: April 22, 2026
| VANGUARD WORLD FUND | |||
| BY: | /s/ CHRISTINE BUCHANAN* | ||
| CHRISTINE BUCHANAN | |||
| CHIEF FINANCIAL OFFICER | |||
Date: April 22, 2026
| * By: | /s/ Natalie Lamarque |
Natalie Lamarque, pursuant to a Power of Attorney filed on December 19, 2025 (see File Number 33-49023), and to a Power of Attorney filed on February 27, 2026 (see File Number 333-177613), Incorporated by Reference.