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      <invstOrSec>
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      <invstOrSec>
        <name>ILLINOIS ST FIN AUTH REVENUE</name>
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        <title>Illinois Finance Authority</title>
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          <isin value="US45204FQ570"/>
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          <maturityDt>2054-08-15</maturityDt>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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        <title>California Statewide Communities Development Authority</title>
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          <isin value="US13080SWF72"/>
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        <curCd>USD</curCd>
        <valUSD>771342.10000000</valUSD>
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        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
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          <isin value="US74529JQG30"/>
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        <balance>901000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>KANSAS CITY MO INDL DEV AUTH E</name>
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        <title>Kansas City Industrial Development Authority</title>
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          <isin value="US48502MAB90"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94853.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PENNSYLVANIA ST TURNPIKE COMMI</name>
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        <title>Pennsylvania Turnpike Commission</title>
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          <isin value="US709224P526"/>
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        <curCd>USD</curCd>
        <valUSD>517989.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OKLAHOMA HSG FIN AGY COLLATERA</name>
        <lei>N/A</lei>
        <title>Oklahoma Housing Finance Agency</title>
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        <identifiers>
          <isin value="US67886UAV35"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500143.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CLEVELAND OH ARPT SPL REVENUE</name>
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        <title>City of Cleveland OH</title>
        <cusip>186347AC4</cusip>
        <identifiers>
          <isin value="US186347AC47"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280388.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VOLUSIA CNTY FL EDUCTNL FAC AU</name>
        <lei>N/A</lei>
        <title>Volusia County Educational Facility Authority</title>
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          <isin value="US928836PJ87"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218654.68000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>LOUISIANA ST LOCAL GOVT ENVRNM</name>
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        <title>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>COOK CNTY IL CMNTY CONSOL SCHD</name>
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        <title>Cook County Community Consolidated School District No 65 Evanston</title>
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          <isin value="US213687QY50"/>
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        <curCd>USD</curCd>
        <valUSD>455559.08000000</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>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PROVIDENCE RI PUBLIC BLDGS AUT</name>
        <lei>N/A</lei>
        <title>Providence Public Building Authority</title>
        <cusip>74381MDK8</cusip>
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          <isin value="US74381MDK80"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109086.43000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>MIAMI-DADE CNTY FL AVIATION RE</name>
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          <isin value="US59333PR759"/>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET PIER &amp; EXPOSITION AUTH IL</name>
        <lei>254900I3VDCQ58UGBR15</lei>
        <title>Metropolitan Pier &amp; Exposition Authority</title>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNLF</name>
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        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
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        <name>OHIO ST HGR EDUCTNL FAC COMMIS</name>
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        <title>Ohio Higher Educational Facility Commission</title>
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        <title>Colorado Health Facilities Authority</title>
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        <name>FIRCREST PROPERTIES</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>CRANDALL TX ECON DEV CORP SALE</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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        <name>NEW YORK ST LIBERTY DEV CORP L</name>
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        <name>CAPITAL TRUST AUTH FL HLTH CAR</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>EL PASO CNTY TX HOSP DIST</name>
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        <name>STHRN CALIFORNIA ST PUBLIC PWR</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>NATIONAL FIN AUTH NH POLLUTION</name>
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        <name>MATAGORDA CNTY TX NAV DIST #1</name>
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        <name>GUAM GOVT BUSINESS PRIVILEGE T</name>
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        <name>COPPER RIM INFRASTRUCTURE FING</name>
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        <name>OHIO CNTY WV CNTY COMMISSION S</name>
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        <name>WILL CNTY IL FOREST PRESERVE D</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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      <invstOrSec>
        <name>BROOKLYN ARENA NY LOCAL DEV CO</name>
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        <name>WESTVIEW SOUTH CDD FL SPL ASSM</name>
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          <maturityDt>2030-05-01</maturityDt>
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        <name>ALABAMA ST UNIV REVENUE</name>
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        <title>Alabama State University</title>
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          <isin value="US010632QK60"/>
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        <name>LOUISIANA ST PUBLIC FACS AUTH</name>
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        <title>Louisiana Public Facilities Authority</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTH CAROLINA ST HSG FIN &amp; DE</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUNTER TX SPL ASSMNT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Gunter TX</title>
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          <isin value="US40314PAA93"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>S E ALABAMA ST GAS SPLY DIST G</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
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        <name>CHICAGO IL BRD OF EDU</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
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        <name>GARDEN CITY KS SALES TAX SPL O</name>
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        <name>GLENDALE AZ INDL DEV AUTH</name>
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        <title>Glendale Industrial Development Authority</title>
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        <name>MUSKOGEE CNTY OK PUBLIC SAFETY</name>
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        <name>CROSSINGS CDD FL SPL ASSMNT</name>
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        <name>INLIVIAN NC MF REVENUE</name>
        <lei>N/A</lei>
        <title>Inlivian</title>
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          <isin value="US45753CAU18"/>
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      <invstOrSec>
        <name>KANSAS CITY MO SAN SWR SYSTEM</name>
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        <name>LA FERIA TX INDEP SCH DIST</name>
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        <name>JEFFERSON CNTY AL SWR REVENUE</name>
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        <name>WILDBLUE CDD FL SPL ASSMNT</name>
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        <name>NUECES RIVER TX AUTH WTR SPLY</name>
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        <name>MUSKOGEE CNTY OK PUBLIC SAFETY</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>WILSON PA SCH DIST</name>
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        <name>FOREST GROVE OR REVENUE</name>
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        <name>LAKESHORE VLGS LA MASTER CDD S</name>
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        <name>NEW YORK CITY NY INDL DEV AGY</name>
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        <name>TRINITY RIVER TX AUTH REGL WST</name>
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        <name>LOUISIANA PUB FACS AUTH REVENU</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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        <name>MET WASHINGTON DC ARPTS AUTH A</name>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO IL WTRWKS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Chicago IL Waterworks Revenue</title>
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          <isin value="US167736F699"/>
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        <curCd>USD</curCd>
        <valUSD>117088.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH CAROLINA ST PUBLIC SVC A</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
        <title>South Carolina Public Service Authority</title>
        <cusip>8371514U0</cusip>
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          <isin value="US8371514U08"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95531.53000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LAFAYETTE PARISH LA SCH BRD SA</name>
        <lei>N/A</lei>
        <title>Lafayette Parish School Board Sale Tax Revenue</title>
        <cusip>506624VH5</cusip>
        <identifiers>
          <isin value="US506624VH57"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277644.13000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPRINGFIELD IL ELEC REVENUE</name>
        <lei>N/A</lei>
        <title>City of Springfield IL Electric Revenue</title>
        <cusip>850578UA1</cusip>
        <identifiers>
          <isin value="US850578UA12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108332.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHELTENHAM TWP PA INDL DEV AUT</name>
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        <title>Cheltenham Township Industrial Development Authority</title>
        <cusip>163492AC5</cusip>
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          <isin value="US163492AC56"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>325019.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority</title>
        <cusip>646067KE7</cusip>
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          <isin value="US646067KE77"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232983.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAKEWOOD RANCH FL STEWARDSHIP</name>
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        <title>Lakewood Ranch Stewardship District</title>
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          <isin value="US51265KAS78"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105005.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COM</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65821DZV6</cusip>
        <identifiers>
          <isin value="US65821DZV62"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>383668.08000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>4521525P2</cusip>
        <identifiers>
          <isin value="US4521525P22"/>
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        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>430359.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALM BEACH CNTY FL REVENUE</name>
        <lei>N/A</lei>
        <title>County of Palm Beach FL</title>
        <cusip>696547HV3</cusip>
        <identifiers>
          <isin value="US696547HV35"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511598.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PHILADELPHIA PA</name>
        <lei>549300IVFOPB4AG7UL47</lei>
        <title>City of Philadelphia PA</title>
        <cusip>717813B40</cusip>
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          <isin value="US717813B401"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276360.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIST OF COLUMBIA WTR &amp; SWR AUT</name>
        <lei>549300OT2FIJQJ5PSH71</lei>
        <title>District of Columbia Water &amp; Sewer Authority</title>
        <cusip>254845VW7</cusip>
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          <isin value="US254845VW74"/>
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        <curCd>USD</curCd>
        <valUSD>215000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEW JERSEY ST ECON DEV AUTH SP</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
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          <isin value="US64578CCF68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-01</maturityDt>
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        <name>PHILADELPHIA PA HOSPS &amp; HGR ED</name>
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          <isin value="US717903L979"/>
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          <maturityDt>2034-07-01</maturityDt>
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      <invstOrSec>
        <name>SALES TAX SECURITIZATION CORP</name>
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        <title>Sales Tax Securitization Corp</title>
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          <isin value="US79467BCR42"/>
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        <balance>100000.00000000</balance>
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        <valUSD>100154.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <name>PRIV CLGS &amp; UNIVS AUTH GA</name>
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        <title>Private Colleges &amp; Universities Authority</title>
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          <isin value="US74265L3H97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LOWER COLORADO RIVER TX AUTH R</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority</title>
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          <isin value="US54811GS350"/>
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        <curCd>USD</curCd>
        <valUSD>552401.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL WSTWTR TRANSMISSION</name>
        <lei>N/A</lei>
        <title>City of Chicago IL Wastewater Transmission Revenue</title>
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          <isin value="US167727D941"/>
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        <balance>330000.00000000</balance>
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        <name>SNOHOMISH CNTY WA PUBLIC UTILI</name>
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        <name>EAST LYME CT</name>
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          <maturityDt>2026-08-06</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
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          <isin value="US45204FFY60"/>
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        <name>SOUTHEAST ENERGY AUTHORITY A C</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>NORTH CAROLINA ST CAPITAL FACS</name>
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          <isin value="US65819GLE60"/>
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          <maturityDt>2044-10-01</maturityDt>
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        <name>CAPITAL PROJS FIN AUTH FL EDUC</name>
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          <isin value="US14043FAQ90"/>
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        <name>TRAILS AT CROWFOOT MET DIST #3</name>
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        <name>CENTRL TX REGL MOBILITY AUTH R</name>
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        <name>N TX TOLLWAY AUTH REVENUE</name>
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        <name>DELAWARE CNTY PA AUTH</name>
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        <name>BROWARD CNTY FL CONVENTION CTR</name>
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          <maturityDt>2047-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <maturityDt>2040-10-01</maturityDt>
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        <name>AUSTIN TX AFFORDABLE PUBLIC FA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ORANGE CNTY FL HLTH FACS AUTH</name>
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        <name>MET WASHINGTON DC ARPTS AUTH D</name>
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        <name>OSCEOLA CNTY FL TRANSPRTN REVE</name>
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      <invstOrSec>
        <name>LOWRY CROSSING TX SPL ASSMNT R</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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          <isin value="US744396KP61"/>
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        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>HILLSBOROUGH CNTY FL HSG FIN A</name>
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        <name>CALIFORNIA CMNTY CHOICE FING A</name>
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          <isin value="US13013JFR23"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PUNXSUTAWNEY BORO PA</name>
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        <name>CHICAGO IL WSTWTR TRANSMISSION</name>
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        <title>City of Chicago IL Wastewater Transmission Revenue</title>
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          <isin value="US167727K540"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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        <name>KING CNTY WA SCH DIST #216 ENU</name>
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        <title>King County School District No 216 Enumclaw</title>
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        <name>ESPLANADE LAKE CLUB CMNTY DEV</name>
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        <name>MISSOURI ST ENVRNMNTL IMPT &amp; E</name>
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        <name>EL PASO CNTY TX HOSP DIST</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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        <name>TRADITION CDD #9 FL SPL ASSMNT</name>
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        <name>HOUSTON TX ARPT SYS REVENUE</name>
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        <name>CHANDLER AZ INDL DEV AUTH INDL</name>
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        <name>LIBERTY COVE CDD FL SPL ASSMNT</name>
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          <isin value="US45506DXH33"/>
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        <name>BLACK BELT ENERGY GAS DIST AL</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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      <invstOrSec>
        <name>RADIANCE CDD FL SPL ASSMNT</name>
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        <name>MILWAUKEE WI</name>
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        <name>KENTUCKY ST PUBLIC ENERGY AUTH</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>DAYTON TX SPL ASSMNT REVENUE</name>
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        <name>MICHIGAN ST FIN AUTH REVENUE</name>
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          <isin value="US59447TW585"/>
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        <name>LOUISIANA ST HSG CORP MF HSG R</name>
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        <name>ARLINGTON TX HGR EDU FIN CORP</name>
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        <name>SOCORRO TX INDEP SCH DIST</name>
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        <name>PINELLAS CNTY FL SCH BRD COPS</name>
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        <name>IBIS LANDING CDD FL SPL ASSMNT</name>
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        <name>INDIANA ST FIN AUTH REVENUE</name>
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        <name>KINGSTON ONE CDD FL SPL ASSMNT</name>
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        <curCd>USD</curCd>
        <valUSD>619414.51000000</valUSD>
        <pctVal>0.504563360038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAPIDES PARISH LA SCH DIST #52</name>
        <lei>N/A</lei>
        <title>Rapides Parish School District No 52 Pineville</title>
        <cusip>753585FD5</cusip>
        <identifiers>
          <isin value="US753585FD56"/>
        </identifiers>
        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307929.38000000</valUSD>
        <pctVal>0.250833456625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GUAM PWR AUTH REVENUE</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam Power Authority</title>
        <cusip>400653JW2</cusip>
        <identifiers>
          <isin value="US400653JW21"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>825756.90000000</valUSD>
        <pctVal>0.672645973435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREAT LAKES MI WTR AUTH SEWAGE</name>
        <lei>N/A</lei>
        <title>Great Lakes Water Authority Sewage Disposal System Revenue</title>
        <cusip>39081HGQ9</cusip>
        <identifiers>
          <isin value="US39081HGQ92"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>563089.45000000</valUSD>
        <pctVal>0.458682030058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORT OF SEATTLE WA REVENUE</name>
        <lei>549300T9UCDUJ3GZL429</lei>
        <title>Port of Seattle WA</title>
        <cusip>7353892A5</cusip>
        <identifiers>
          <isin value="US7353892A52"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106848.82000000</valUSD>
        <pctVal>0.087037030558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York NY</title>
        <cusip>64966SCR5</cusip>
        <identifiers>
          <isin value="US64966SCR58"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515458.20000000</valUSD>
        <pctVal>0.419882513490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
        </identifiers>
        <balance>334000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83238.38000000</valUSD>
        <pctVal>0.067804412100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIAMI-DADE CNTY FL HSG FIN AUT</name>
        <lei>N/A</lei>
        <title>Miami-Dade County Housing Finance Authority</title>
        <cusip>593344CB8</cusip>
        <identifiers>
          <isin value="US593344CB87"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502611.65000000</valUSD>
        <pctVal>0.409417956512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MATCHING FUND SPL PURPOSE SECU</name>
        <lei>N/A</lei>
        <title>Matching Fund Special Purpose Securitization Corp</title>
        <cusip>57665NAG0</cusip>
        <identifiers>
          <isin value="US57665NAG07"/>
        </identifiers>
        <balance>795000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>825378.62000000</valUSD>
        <pctVal>0.672337833692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHEAST ENERGY AUTHORITY A C</name>
        <lei>25490090A3RLJHITY273</lei>
        <title>Southeast Energy Authority A Cooperative District</title>
        <cusip>84136HCT8</cusip>
        <identifiers>
          <isin value="US84136HCT86"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1076768.50000000</valUSD>
        <pctVal>0.877115281564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>2026-05-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Allison Frachiolla</ncom:signature>
      <ncom:signerName>Allison Frachiolla</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
