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        <name>Ford Motor Credit Co LLC</name>
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        <name>FirstEnergy Corp</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XEROX CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EQM MIDSTREAM PARTNERS L</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Methanex Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KOHL'S CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Qwest Corp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
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      <invstOrSec>
        <name>Ford Motor Credit Co LLC</name>
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        <name>FIRST REPUBLIC BANK</name>
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        <name>OCEANEERING INTL INC</name>
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        <name>ROCKIES EXPRESS PIPELINE</name>
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        <name>LUMEN TECHNOLOGIES INC</name>
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        <name>Sealed Air Corp</name>
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        <name>MACY'S RETAIL HLDGS LLC</name>
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        <name>FORD MOTOR COMPANY</name>
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        <title>Ford Motor Co</title>
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        <name>State Street Global Advisors</name>
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        <name>EQM MIDSTREAM PARTNERS L</name>
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        <name>Newell Brands Inc</name>
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        <name>LAS VEGAS SANDS CORP</name>
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        <name>Seagate HDD Cayman</name>
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        <name>FIRSTENERGY CORP</name>
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        <name>Genworth Holdings Inc</name>
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        <name>TELECOM ITALIA CAPITAL</name>
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        <invCountry>LU</invCountry>

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        <name>KOHL'S CORPORATION</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>Kohl's Corp</title>
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        <name>XEROX CORPORATION</name>
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        <name>Newell Brands Inc</name>
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        <name>ROCKIES EXPRESS PIPELINE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELECOM ITALIA CAPITAL</name>
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        <name>HOWMET AEROSPACE INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDSTROM INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENLINK MIDSTREAM PARTNER</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fluor Corp</name>
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        <name>SERVICE PROPERTIES TRUST</name>
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        <name>Seagate HDD Cayman</name>
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        <name>TRAVEL + LEISURE CO</name>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <name>Navient Corp</name>
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        <name>Ford Motor Credit Co LLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust</title>
        <cusip>44106MAT9</cusip>
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          <isin value="US44106MAT99"/>
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        <curCd>USD</curCd>
        <valUSD>12519367.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKIES EXPRESS PIPELINE</name>
        <lei>W2ZGZGZKY5GGNY6F3V51</lei>
        <title>Rockies Express Pipeline LLC</title>
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          <isin value="US77340RAM97"/>
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        <balance>18680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16922212.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.88000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OFFICE PPTY INCOME TRST</name>
        <lei>N/A</lei>
        <title>Office Properties Income Trust</title>
        <cusip>81618TAC4</cusip>
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          <isin value="US81618TAC45"/>
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        <balance>24441000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21564424.81000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORDSTROM INC</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>Nordstrom Inc</title>
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          <isin value="US655664AT70"/>
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        <balance>18944000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15998208.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RESORTS WORLD/RWLV CAP</name>
        <lei>N/A</lei>
        <title>Resorts World Las Vegas LLC / RWLV Capital Inc</title>
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          <isin value="USU76198AA52"/>
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        <curCd>USD</curCd>
        <valUSD>30959279.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</annualizedRt>
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      <invstOrSec>
        <name>Patterson-UTI Energy Inc</name>
        <lei>254900XGFBKIXD6G0697</lei>
        <title>Patterson-UTI Energy Inc</title>
        <cusip>703481AB7</cusip>
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        <balance>18403000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16962082.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <name>OHIO NAT FINANCIAL SRVS</name>
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        <title>Ohio National Financial Services Inc</title>
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          <isin value="US67740QAH92"/>
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        <curCd>USD</curCd>
        <valUSD>15002196.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRINKER INTERNATIONAL IN</name>
        <lei>52990067JY6PBGJNTG76</lei>
        <title>Brinker International Inc</title>
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        <balance>13326000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust</title>
        <cusip>44106MAZ5</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DPL INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FRONTIER FLORIDA LLC</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Nordstrom Inc</name>
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        <title>Nordstrom Inc</title>
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        <name>Under Armour Inc</name>
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        <invCountry>US</invCountry>
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        <name>FORD MOTOR COMPANY</name>
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        <title>Ford Motor Co</title>
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        <invCountry>US</invCountry>
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        <name>WESTERN DIGITAL CORP</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp</title>
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        <invCountry>US</invCountry>
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        <name>Bombardier Inc</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Global Marine Inc</name>
        <lei>N/A</lei>
        <title>Global Marine Inc</title>
        <cusip>379352AL1</cusip>
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        <name>XPO CNW Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>DELTA AIR LINES INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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        <name>DRESDNER FNDG TRUST I</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-30</maturityDt>
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        <name>ENTEGRIS ESCROW CORP</name>
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        <title>Entegris Escrow Corp</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>SEAGATE HDD CAYMAN</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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        <name>TOLEDO HOSPITAL/THE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELECOM ITALIA CAPITAL</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RESORTS WORLD/RWLV CAP</name>
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        <name>Transocean Inc</name>
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        <name>FirstEnergy Corp</name>
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        <name>ROYAL CARIBBEAN CRUISES</name>
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        <name>Ford Motor Credit Co LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>ENLINK MIDSTREAM PARTNER</name>
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        <name>SEAGATE HDD CAYMAN</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
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        <invCountry>KY</invCountry>

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      <invstOrSec>
        <name>PERRIGO FINANCE UNLIMITD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-15</maturityDt>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
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        <title>Las Vegas Sands Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP</title>
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          <isin value="US118230AP60"/>
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        <balance>10794000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8010875.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>Rolls-Royce PLC</name>
        <lei>X57JK1U580XATGR67572</lei>
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        <balance>38129000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36089479.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.63000000</annualizedRt>
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      <invstOrSec>
        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
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        <cusip>44106MAV4</cusip>
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        <balance>13304000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FIRST REPUBLIC BANK</name>
        <lei>YWC0TIKBQM2JV8L4IV08</lei>
        <title>First Republic Bank/CA</title>
        <cusip>33616CAB6</cusip>
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          <isin value="US33616CAB63"/>
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        <balance>9339000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93390.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
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          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254AB6</cusip>
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        <balance>27757000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26683844.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.01000000</annualizedRt>
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      <invstOrSec>
        <name>ROGERS COMMUNICATIONS IN</name>
        <lei>54930030NVF3Y2OL0A78</lei>
        <title>Rogers Communications Inc</title>
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        <balance>28375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26197838.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2082-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>TOPAZ SOLAR FARMS LLC</name>
        <lei>N/A</lei>
        <title>Topaz Solar Farms LLC</title>
        <cusip>89054XAC9</cusip>
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        <balance>21329403.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20602070.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <name>Murphy Oil Corp</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>Murphy Oil Corp</title>
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        <balance>12724000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.88000000</annualizedRt>
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        <name>ROYAL CARIBBEAN CRUISES</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>ROYAL CARIBBEAN CRUISES</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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        <name>MACY'S RETAIL HLDGS LLC</name>
        <lei>N/A</lei>
        <title>Macy's Retail Holdings LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>PATTERSON-UTI ENERGY INC</name>
        <lei>254900XGFBKIXD6G0697</lei>
        <title>Patterson-UTI Energy Inc</title>
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        <balance>13081000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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      <invstOrSec>
        <name>Yum! Brands Inc</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc</title>
        <cusip>988498AK7</cusip>
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          <isin value="US988498AK76"/>
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        <balance>9959000.00000000</balance>
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        <valUSD>8966486.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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      <invstOrSec>
        <name>DIVERSIFIED HEALTHCARE T</name>
        <lei>N/A</lei>
        <title>Diversified Healthcare Trust</title>
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        <balance>18820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13820380.43000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Newell Brands Inc</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
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        <name>CRANE NXT CO</name>
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        <name>United States Steel Corp</name>
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        <name>FORD MOTOR COMPANY</name>
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        <name>Toledo Hospital/The</name>
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        <name>TransAlta Corp</name>
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        <name>PERRIGO FINANCE UNLIMITD</name>
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        <name>EQM MIDSTREAM PARTNERS L</name>
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        <name>PERRIGO FINANCE UNLIMITE</name>
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        <name>Southwestern Energy Co</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENTING NY LLC/GENNY CAP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>METHANEX CORP</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>FirstEnergy Corp</name>
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        <name>PACIFIC WESTERN BANK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Marks &amp; Spencer PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EQM MIDSTREAM PARTNERS L</name>
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        <invCountry>US</invCountry>
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        <name>FORD MOTOR COMPANY</name>
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        <name>HOWMET AEROSPACE INC</name>
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        <name>DELTA AIR LINES INC</name>
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        <title>Delta Air Lines Inc</title>
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        <name>Toledo Hospital/The</name>
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        <title>Toledo Hospital/The</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PERRIGO FINANCE UNLIMITE</name>
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      <invstOrSec>
        <name>SERVICE PROPERTIES TRUST</name>
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        <name>LUMEN TECHNOLOGIES INC</name>
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        <name>Seagate HDD Cayman</name>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <name>Transocean Inc</name>
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        <name>OHIO NAT FINANCIAL SRVS</name>
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        <name>Nordstrom Inc</name>
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        <name>FORD MOTOR COMPANY</name>
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        <name>OFFICE PPTY INCOME TRST</name>
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        <name>Buckeye Partners LP</name>
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        <name>OFFICE PPTY INCOME TRST</name>
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        <name>TELECOM ITALIA CAPITAL</name>
        <lei>549300777DJZOR5C4L39</lei>
        <title>Telecom Italia Capital SA</title>
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        </identifiers>
        <balance>37835000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30638559.77000000</valUSD>
        <pctVal>1.039635498083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>



      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-08-29</ncom:dateSigned>
      <ncom:nameOfApplicant>VanEck ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>James Parker</ncom:signature>
      <ncom:signerName>James Parker</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
