JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited)

Investments	Shares		Value ($)
COMMON STOCKS — 98.2%
Aerospace & Defense — 1.1%
AAR Corp.*		7,895		282,325
Aerojet Rocketdyne Holdings, Inc.		17,709		835,511
AeroVironment, Inc.*		5,337		539,571
Kaman Corp.		6,612		293,242
Kratos Defense & Security Solutions, Inc.*		29,430		800,496
Maxar Technologies, Inc.		17,081		619,528
National Presto Industries, Inc.		1,240		119,635
PAE, Inc.*		14,826		132,248
Parsons Corp.*		5,599		216,233
Virgin Galactic Holdings, Inc.*(a)		31,470		943,785
				4,782,574
Air Freight & Logistics — 0.4%
Air Transport Services Group, Inc.*		14,461		349,956
Atlas Air Worldwide Holdings, Inc.*		6,554		438,922
Forward Air Corp.		6,491		574,064
Hub Group, Inc., Class A*		8,025		531,897
				1,894,839
Airlines — 0.4%
Hawaiian Holdings, Inc.*		12,152		239,759
SkyWest, Inc.*		11,968		484,584
Spirit Airlines, Inc.*		25,770		695,275
Sun Country Airlines Holdings, Inc.*		5,299		172,164
				1,591,782
Auto Components — 1.1%
American Axle & Manufacturing Holdings, Inc.*		27,098		262,580
Dorman Products, Inc.*		6,784		686,201
Gentherm, Inc.*		7,875		653,074
Goodyear Tire & Rubber Co. (The)*		66,332		1,042,076
LCI Industries		6,007		875,941
Patrick Industries, Inc.		5,312		438,930
Veoneer, Inc. (Sweden)*(a)		22,323		699,156
				4,657,958
Automobiles — 0.4%
Canoo, Inc.*		33,872		275,379
Fisker, Inc.*(a)		38,726		624,263
Lordstown Motors Corp.*(a)		25,188		157,173
Winnebago Industries, Inc.		7,987		574,026
Workhorse Group, Inc.*(a)		25,786		297,571
				1,928,412
Banks — 6.7%
1st Source Corp.		4,148		189,937
Ameris Bancorp		16,574		805,662
Atlantic Union Bankshares Corp.		18,785		666,304
BancFirst Corp.		4,443		246,498
BancorpSouth Bank		22,935		591,723
Banner Corp.		8,271		438,694
Berkshire Hills Bancorp, Inc.		12,174		329,185
Brookline Bancorp, Inc.		18,589		267,124
Cadence BanCorp		29,646		563,274
Cathay General Bancorp		17,803		674,200
Central Pacific Financial Corp.		6,724		172,134
CIT Group, Inc.		23,546		1,135,859
City Holding Co.		3,728		282,060
Columbia Banking System, Inc.		17,051		595,762
Community Bank System, Inc.		12,808		917,565
Community Trust Bancorp, Inc.		3,599		143,096
CVB Financial Corp.		30,371		578,871
Dime Community Bancshares, Inc.		8,406		277,566
Eagle Bancorp, Inc.		7,601		418,283
Eastern Bankshares, Inc.		44,397		810,245
FB Financial Corp.		7,993		302,215
First BanCorp (Puerto Rico)		51,258		621,760
First Busey Corp.		11,741		277,088
First Commonwealth Financial Corp.		22,871		301,211
First Financial Bancorp		23,126		520,335
First Interstate BancSystem, Inc., Class A		8,206		343,996
First Merchants Corp.		12,929		526,598
First Midwest Bancorp, Inc.		27,177		487,555
Fulton Financial Corp.		38,652		592,149
Great Western Bancorp, Inc.		13,099		403,449
Heartland Financial USA, Inc.		9,324		425,361
Hilltop Holdings, Inc.		15,471		490,121
Hope Bancorp, Inc.		29,371		389,166
Independent Bank Corp.		7,848		554,697
Independent Bank Group, Inc.		8,729		608,411
International Bancshares Corp.		13,256		518,044
Live Oak Bancshares, Inc.		7,393		444,985
National Bank Holdings Corp., Class A		7,315		259,390
NBT Bancorp, Inc.		10,325		359,826
OFG Bancorp (Puerto Rico)		12,274		283,529
Old National Bancorp		39,397		633,898
Origin Bancorp, Inc.		5,189		211,089
Pacific Premier Bancorp, Inc.		22,504		854,702
Park National Corp.		3,382		385,244
Renasant Corp.		13,384		470,849
S&T Bancorp, Inc.		9,355		275,505
Sandy Spring Bancorp, Inc.		11,235		467,264
Seacoast Banking Corp. of Florida		13,141		399,355
ServisFirst Bancshares, Inc.		11,199		796,025
Silvergate Capital Corp., Class A*		4,942		508,038
Simmons First National Corp., Class A		25,758		701,133
South State Corp.		16,892		1,162,845
Tompkins Financial Corp.		2,872		220,426
Towne Bank		15,367		458,090
Triumph Bancorp, Inc.*		5,381		412,507
Trustmark Corp.		15,075		452,552
United Community Banks, Inc.		20,633		594,437
Washington Trust Bancorp, Inc.		4,111		200,411
WesBanco, Inc.		16,001		516,512
Westamerica BanCorp		6,386		354,742
				28,889,552
Beverages — 0.2%
Coca-Cola Consolidated, Inc.		1,102		439,863
Duckhorn Portfolio, Inc. (The)*		4,645		102,051
MGP Ingredients, Inc.		3,133		186,883
				728,797
Biotechnology — 7.6%
4D Molecular Therapeutics, Inc.*		2,099		52,202
Akero Therapeutics, Inc.*(a)		4,223		90,541
Alector, Inc.*		12,515		300,798
Alkermes plc*		38,139		986,656
Allakos, Inc.*		7,643		608,077
Allogene Therapeutics, Inc.*		15,810		347,030

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Allovir, Inc.*		4,023		77,000
ALX Oncology Holdings, Inc.*		2,770		162,211
Amicus Therapeutics, Inc.*		63,250		587,593
AnaptysBio, Inc.*		5,074		116,601
Annexon, Inc.*		3,729		78,533
Apellis Pharmaceuticals, Inc.*		13,965		893,620
Applied Molecular Transport, Inc.*(a)		4,188		117,390
Arcus Biosciences, Inc.*		10,633		333,983
Arcutis Biotherapeutics, Inc.*		6,567		153,208
Arena Pharmaceuticals, Inc.*		14,418		891,897
Atara Biotherapeutics, Inc.*		19,986		254,822
Avidity Biosciences, Inc.*		3,936		76,004
Beam Therapeutics, Inc.*(a)		6,989		642,988
BioAtla, Inc.*		2,602		106,656
BioCryst Pharmaceuticals, Inc.*		42,243		680,957
Biohaven Pharmaceutical Holding Co. Ltd.*		13,146		1,656,527
Bioxcel Therapeutics, Inc.*		3,568		91,305
Black Diamond Therapeutics, Inc.*		3,781		36,146
Brooklyn ImmunoTherapeutics, Inc.*		4,868		55,933
C4 Therapeutics, Inc.*		3,386		146,072
CareDx, Inc.*		12,370		1,039,575
CEL-SCI Corp.*		9,728		78,116
Cerevel Therapeutics Holdings, Inc.*		12,100		298,144
Coherus Biosciences, Inc.*		15,850		206,843
Cortexyme, Inc.*		3,166		178,911
Cullinan Oncology, Inc.*		3,106		71,221
Deciphera Pharmaceuticals, Inc.*		9,643		294,015
DermTech, Inc.*		5,781		194,588
Design Therapeutics, Inc.*		2,909		45,031
Dicerna Pharmaceuticals, Inc.*		15,906		596,634
Dynavax Technologies Corp.*(a)		24,242		226,420
Dyne Therapeutics, Inc.*		4,378		79,110
Eagle Pharmaceuticals, Inc.*		2,770		128,805
Editas Medicine, Inc.*		16,127		675,076
Emergent BioSolutions, Inc.*		10,830		713,697
Enanta Pharmaceuticals, Inc.*		4,272		180,492
Epizyme, Inc.*		22,061		146,264
Esperion Therapeutics, Inc.*		6,700		103,113
Forma Therapeutics Holdings, Inc.*		4,841		110,810
G1 Therapeutics, Inc.*		7,702		133,322
Generation Bio Co.*		5,114		111,178
Gossamer Bio, Inc.*		11,371		89,376
Heron Therapeutics, Inc.*		21,787		269,287
IGM Biosciences, Inc.*		1,700		115,617
Immunovant, Inc.*		11,881		124,275
Inovio Pharmaceuticals, Inc.*		49,517		415,943
Insmed, Inc.*		26,976		663,610
Instil Bio, Inc.*		3,979		59,884
Intellia Therapeutics, Inc.*		15,807		2,242,223
Intercept Pharmaceuticals, Inc.*		6,309		109,020
Ironwood Pharmaceuticals, Inc.*		38,505		510,961
iTeos Therapeutics, Inc.*		2,670		64,160
Karuna Therapeutics, Inc.*		4,483		512,048
Karyopharm Therapeutics, Inc.*		15,527		129,340
Keros Therapeutics, Inc.*		2,213		81,438
Kinnate Biopharma, Inc.*		2,997		64,675
Kronos Bio, Inc.*		3,199		65,420
Kura Oncology, Inc.*		15,753		298,362
Kymera Therapeutics, Inc.*		3,310		199,196
MacroGenics, Inc.*		14,275		356,304
Madrigal Pharmaceuticals, Inc.*		2,366		206,599
MiMedx Group, Inc.*		23,415		287,068
Molecular Templates, Inc.*		9,600		67,200
Morphic Holding, Inc.*		3,527		203,226
Myovant Sciences Ltd.*(a)		9,569		196,356
Myriad Genetics, Inc.*		18,318		579,398
Nkarta, Inc.*		3,904		123,991
Nurix Therapeutics, Inc.*		3,164		97,261
Ocugen, Inc.*(a)		47,122		316,189
Olema Pharmaceuticals, Inc.*		2,766		64,946
OPKO Health, Inc.*		103,549		356,209
Organogenesis Holdings, Inc.*		11,890		182,393
ORIC Pharmaceuticals, Inc.*		3,404		56,677
Passage Bio, Inc.*		5,901		69,632
PMV Pharmaceuticals, Inc.*		2,891		98,323
Praxis Precision Medicines, Inc.*		3,736		58,282
Precigen, Inc.*(a)		22,081		121,225
Prelude Therapeutics, Inc.*		2,787		89,295
PTC Therapeutics, Inc.*		16,749		641,989
Radius Health, Inc.*		11,229		169,895
REGENXBIO, Inc.*		8,285		267,771
Replimune Group, Inc.*		6,202		202,991
REVOLUTION Medicines, Inc.*		11,351		325,093
Rocket Pharmaceuticals, Inc.*		10,552		377,973
Rubius Therapeutics, Inc.*		10,403		223,560
Sangamo Therapeutics, Inc.*		28,391		271,986
Seres Therapeutics, Inc.*		13,514		95,949
Shattuck Labs, Inc.*		2,987		65,833
Silverback Therapeutics, Inc.*(a)		2,905		87,963
Sorrento Therapeutics, Inc.*(a)		57,395		471,213
SpringWorks Therapeutics, Inc.*		6,535		560,050
Stoke Therapeutics, Inc.*		4,799		137,395
Taysha Gene Therapies, Inc.*		1,979		34,217
TG Therapeutics, Inc.*		27,579		964,989
Turning Point Therapeutics, Inc.*		10,286		656,453
uniQure NV (Netherlands)*		9,185		266,457
Vaxcyte, Inc.*		4,274		92,660
Veracyte, Inc.*		15,985		712,292
Vericel Corp.*		11,016		583,187
Vor BioPharma, Inc.*		2,469		30,912
Xencor, Inc.*		13,841		426,026
Y-mAbs Therapeutics, Inc.*		6,421		212,535
Zentalis Pharmaceuticals, Inc.*		4,224		224,759
				32,805,672
Building Products — 1.5%
AAON, Inc.		9,726		604,471
American Woodmark Corp.*		4,040		299,970
Apogee Enterprises, Inc.		6,129		243,137
Cornerstone Building Brands, Inc.*		10,159		170,874
Gibraltar Industries, Inc.*		7,756		579,218
Griffon Corp.		10,776		249,141
Masonite International Corp.*		5,825		659,157
Quanex Building Products Corp.		7,986		198,372
Resideo Technologies, Inc.*		34,200		1,008,900
Simpson Manufacturing Co., Inc.		10,326		1,161,469
UFP Industries, Inc.		14,698		1,091,474
View, Inc.*		14,446		87,976
				6,354,159
Capital Markets — 1.8%
AssetMark Financial Holdings, Inc.*		4,010		104,661
BGC Partners, Inc., Class A		80,465		430,488

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Blucora, Inc.*		11,507		194,008
Brightsphere Investment Group, Inc.		14,147		353,534
Cohen & Steers, Inc.		5,618		467,474
Cowen, Inc., Class A		6,387		255,352
Diamond Hill Investment Group, Inc.		694		119,542
Focus Financial Partners, Inc., Class A*		11,931		612,418
Freedom Holding Corp. (Kazakhstan)*		3,750		236,512
Hamilton Lane, Inc., Class A		7,679		714,147
Houlihan Lokey, Inc.		12,220		1,088,802
Moelis & Co., Class A		14,580		863,865
Piper Sandler Cos.		3,429		420,704
PJT Partners, Inc., Class A		5,849		457,216
StepStone Group, Inc., Class A		6,460		293,995
Virtu Financial, Inc., Class A		18,753		482,702
Virtus Investment Partners, Inc.		1,706		471,078
WisdomTree Investments, Inc.		26,669		164,814
				7,731,312
Chemicals — 2.2%
American Vanguard Corp.		6,447		106,440
Balchem Corp.		7,711		1,040,137
Chemours Co. (The)		39,349		1,308,354
Danimer Scientific, Inc.*		14,845		247,615
Ferro Corp.*		19,643		408,574
FutureFuel Corp.		6,135		52,148
GCP Applied Technologies, Inc.*		11,503		267,445
HB Fuller Co.		12,423		802,774
Innospec, Inc.		5,850		517,433
Koppers Holdings, Inc.*		5,050		155,085
Kraton Corp.*		7,643		291,886
Kronos Worldwide, Inc.		5,222		72,638
Livent Corp.*		37,935		740,112
Minerals Technologies, Inc.		8,017		643,124
PQ Group Holdings, Inc.		12,365		192,399
PureCycle Technologies, Inc.*		17,574		260,271
Quaker Chemical Corp.		3,146		791,974
Stepan Co.		5,084		599,658
Tredegar Corp.		6,163		80,550
Trinseo SA		9,212		500,764
Tronox Holdings plc, Class A		26,235		483,511
				9,562,892
Commercial Services & Supplies — 1.8%
ABM Industries, Inc.		15,949		741,469
ACCO Brands Corp.		22,698		202,920
Brady Corp., Class A		11,532		630,570
BrightView Holdings, Inc.*		7,249		116,201
Casella Waste Systems, Inc., Class A*		11,378		782,579
CoreCivic, Inc., REIT*		28,588		293,885
Covanta Holding Corp.		28,135		565,514
Deluxe Corp.		10,035		440,536
Harsco Corp.*		18,821		378,679
Herman Miller, Inc.		17,543		756,980
HNI Corp.		10,354		386,204
Interface, Inc.		14,031		202,327
Matthews International Corp., Class A		7,523		260,296
Pitney Bowes, Inc.		41,719		333,752
Steelcase, Inc., Class A		21,403		294,291
UniFirst Corp.		3,625		789,416
US Ecology, Inc.*		7,490		262,150
Viad Corp.*		4,867		223,152
				7,660,921
Communications Equipment — 0.5%
ADTRAN, Inc.		11,503		257,782
Calix, Inc.*		13,451		629,238
Cambium Networks Corp.*		1,314		57,882
EchoStar Corp., Class A*		10,249		228,553
Infinera Corp.*		48,730		482,914
NETGEAR, Inc.*		7,241		248,004
Plantronics, Inc.*		9,051		282,301
				2,186,674
Construction & Engineering — 0.9%
API Group Corp.*(b)		36,839		844,350
Arcosa, Inc.		11,451		627,057
Comfort Systems USA, Inc.		8,622		644,494
Dycom Industries, Inc.*		7,313		507,522
Fluor Corp.*		29,900		498,134
Granite Construction, Inc.		10,886		418,240
Primoris Services Corp.		12,004		358,920
Tutor Perini Corp.*		9,684		136,254
				4,034,971
Construction Materials — 0.2%
Summit Materials, Inc., Class A*		27,900		937,440
Consumer Finance — 0.9%
Encore Capital Group, Inc.*		7,374		349,085
Enova International, Inc.*		8,738		289,141
Navient Corp.		42,670		871,748
Nelnet, Inc., Class A		5,011		377,328
SoFi Technologies, Inc.*		110,428		1,705,008
World Acceptance Corp.*		930		176,300
				3,768,610
Containers & Packaging — 0.1%
Greif, Inc., Class A		6,308		382,391
Pactiv Evergreen, Inc.		9,683		140,113
				522,504
Distributors — 0.1%
Core-Mark Holding Co., Inc.		10,733		461,948
Diversified Consumer Services — 0.6%
2U, Inc.*		17,684		767,486
Adtalem Global Education, Inc.*		11,748		426,922
Houghton Mifflin Harcourt Co.*		30,289		342,872
Laureate Education, Inc., Class A*		25,855		382,913
OneSpaWorld Holdings Ltd. (Bahamas)*		13,064		129,072
Strategic Education, Inc.		5,860		464,639
Stride, Inc.*		9,874		302,737
				2,816,641
Diversified Financial Services — 0.2%
Cannae Holdings, Inc.*		20,481		680,993
Diversified Telecommunication Services — 0.9%
ATN International, Inc.		2,613		112,490
Bandwidth, Inc., Class A*		5,435		704,702
Cincinnati Bell, Inc.*		12,098		185,583
Cogent Communications Holdings, Inc.		10,059		780,679
Globalstar, Inc.*		157,613		217,506
Iridium Communications, Inc.*		27,923		1,179,188
Liberty Latin America Ltd., Class A (Chile)*		11,808		161,179
Liberty Latin America Ltd., Class C (Chile)*		36,437		503,924
			3,845,251

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Electric Utilities — 0.3%
MGE Energy, Inc.		8,594		671,363
Otter Tail Corp.		9,873		501,450
				1,172,813
Electrical Equipment — 0.9%
Atkore, Inc.*		11,169		838,904
AZZ, Inc.		5,944		314,973
Encore Wire Corp.		4,902		384,464
FTC Solar, Inc.*		4,647		47,121
FuelCell Energy, Inc.*		76,647		485,175
Romeo Power, Inc.*		21,210		149,530
Shoals Technologies Group, Inc., Class A*		22,055		641,580
TPI Composites, Inc.*		7,766		303,961
Vicor Corp.*		5,059		584,871
				3,750,579
Electronic Equipment, Instruments & Components — 2.7%
908 Devices, Inc.*		1,622		50,687
Advanced Energy Industries, Inc.		9,130		947,238
Aeva Technologies, Inc.*		21,608		189,286
Badger Meter, Inc.		6,935		700,643
Benchmark Electronics, Inc.		8,514		224,770
Fabrinet (Thailand)*		8,768		828,751
FARO Technologies, Inc.*		4,314		314,447
Insight Enterprises, Inc.*		8,400		843,192
Itron, Inc.*		10,726		1,057,798
Knowles Corp.*		22,059		442,062
Methode Electronics, Inc.		9,137		437,023
MicroVision, Inc.*		37,547		517,022
Novanta, Inc.*		8,415		1,181,550
OSI Systems, Inc.*		3,975		397,699
Ouster, Inc.*		16,503		151,663
Plexus Corp.*		6,801		614,266
Rogers Corp.*		4,450		848,170
Sanmina Corp.*		15,473		594,473
ScanSource, Inc.*		6,056		167,085
TTM Technologies, Inc.*		23,697		331,521
Velodyne Lidar, Inc.*(a)		13,529		108,367
Vishay Intertechnology, Inc.		31,551		698,224
				11,645,937
Energy Equipment & Services — 1.2%
Archrock, Inc.		30,765		264,887
Cactus, Inc., Class A		12,946		466,574
ChampionX Corp.*		44,509		1,034,389
Core Laboratories NV		11,005		367,127
Dril-Quip, Inc.*		8,425		240,787
Frank’s International NV*		29,232		80,388
Helix Energy Solutions Group, Inc.*		33,683		139,784
Helmerich & Payne, Inc.		25,645		735,242
Liberty Oilfield Services, Inc., Class A*		20,769		211,636
NexTier Oilfield Solutions, Inc.*		38,423		146,776
Oceaneering International, Inc.*		23,712		314,421
Patterson-UTI Energy, Inc.		44,643		358,037
ProPetro Holding Corp.*		19,450		146,847
RPC, Inc.*		13,846		58,153
Transocean Ltd.*		137,943		497,974
				5,063,022
Entertainment — 0.6%
Cinemark Holdings, Inc.*(a)		25,858		401,575
IMAX Corp.*		11,712		189,032
Liberty Media Corp.-Liberty Braves, Class C*		8,569		226,650
Madison Square Garden Entertainment Corp.*		5,970		417,661
Warner Music Group Corp., Class A		22,239		840,412
World Wrestling Entertainment, Inc., Class A		10,756		531,131
				2,606,461
Equity Real Estate Investment Trusts (REITs) — 6.6%
Acadia Realty Trust		20,516		439,042
Agree Realty Corp.		16,200		1,217,430
Alexander & Baldwin, Inc.		17,213		344,604
Alexander’s, Inc.		511		142,487
American Assets Trust, Inc.		11,933		440,686
American Finance Trust, Inc.		25,873		219,144
Apartment Income REIT Corp.		37,279		1,962,367
Apartment Investment and Management Co., Class A		35,673		248,284
Brandywine Realty Trust		40,619		567,041
Broadstone Net Lease, Inc.		37,039		963,755
CareTrust REIT, Inc.		23,004		554,856
Centerspace		3,088		277,920
Columbia Property Trust, Inc.		27,309		455,241
Corporate Office Properties Trust		26,699		786,019
DiamondRock Hospitality Co.*		49,982		430,345
Diversified Healthcare Trust		56,642		220,904
Easterly Government Properties, Inc.		19,938		452,593
Empire State Realty Trust, Inc., Class A		33,515		383,076
Essential Properties Realty Trust, Inc.		27,931		832,344
Four Corners Property Trust, Inc.		18,107		519,852
Franklin Street Properties Corp.		22,960		119,851
GEO Group, Inc. (The)(a)		28,916		200,099
Getty Realty Corp.		8,864		280,014
Global Net Lease, Inc.		22,675		418,807
Independence Realty Trust, Inc.		24,280		468,118
Industrial Logistics Properties Trust		15,520		420,592
Innovative Industrial Properties, Inc.		5,685		1,222,218
iStar, Inc.		17,406		421,747
Kite Realty Group Trust		20,080		404,813
Lexington Realty Trust		65,997		867,860
LTC Properties, Inc.		9,356		354,125
Macerich Co. (The)		39,762		648,121
Mack-Cali Realty Corp.*		20,490		368,820
Monmouth Real Estate Investment Corp.		23,370		444,965
National Storage Affiliates Trust		18,472		1,000,628
Office Properties Income Trust		11,485		332,835
Physicians Realty Trust		51,225		970,714
PotlatchDeltic Corp.		15,938		827,820
QTS Realty Trust, Inc., Class A		16,346		1,270,248
Retail Opportunity Investments Corp.		28,235		498,912
Retail Properties of America, Inc., Class A		51,047		643,703
RPT Realty		19,290		245,755
Safehold, Inc.		3,420		308,894
Saul Centers, Inc.		3,076		140,266
Seritage Growth Properties, Class A*		9,449		149,956

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Service Properties Trust		39,180		436,073
Summit Hotel Properties, Inc.*		25,228		227,304
Tanger Factory Outlet Centers, Inc.		23,962		411,427
Terreno Realty Corp.		16,535		1,130,333
Universal Health Realty Income Trust		3,041		181,700
Urban Edge Properties		26,148		496,812
Urstadt Biddle Properties, Inc., Class A		7,156		136,465
Washington		20,110		488,472
Xenia Hotels & Resorts, Inc.*		27,056		478,350
				28,474,807
Food & Staples Retailing — 0.4%
Andersons, Inc. (The)		7,444		198,755
Grocery Outlet Holding Corp.*		20,705		685,750
Rite Aid Corp.*		13,097		199,074
SpartanNash Co.		8,612		167,503
United Natural Foods, Inc.*		13,380		443,146
Weis Markets, Inc.		3,903		205,493
				1,899,721
Food Products — 1.1%
AppHarvest, Inc.*(a)		14,540		173,317
B&G Foods, Inc.(a)		15,394		442,116
Calavo Growers, Inc.		3,956		222,881
Cal-Maine Foods, Inc.		8,898		310,451
Fresh Del Monte Produce, Inc.		7,227		223,025
Hostess Brands, Inc.*		31,209		502,153
J&J Snack Foods Corp.		3,571		587,001
Sanderson Farms, Inc.		4,726		883,006
Simply Good Foods Co. (The)*		20,030		750,724
Tattooed Chef, Inc.*		9,062		178,703
Tootsie Roll Industries, Inc.		4,186		143,957
Utz Brands, Inc.		12,918		292,463
Vital Farms, Inc.*		3,706		64,521
				4,774,318
Gas Utilities — 0.4%
Chesapeake Utilities Corp.		4,170		519,540
Northwest Natural Holding Co.		7,284		380,880
South Jersey Industries, Inc.		26,721		672,568
				1,572,988
Health Care Equipment & Supplies — 2.8%
AtriCure, Inc.*		10,849		916,307
Atrion Corp.		333		209,437
Avanos Medical, Inc.*		11,428		433,578
Axogen, Inc.*		8,481		172,758
Axonics, Inc.*		8,204		557,462
BioLife Solutions, Inc.*		7,488		351,187
Butterfly Network, Inc.*(a)		30,570		328,322
Cardiovascular Systems, Inc.*		9,548		384,689
CONMED Corp.		6,916		953,993
CryoPort, Inc.*		10,861		670,341
Eargo, Inc.*		2,483		89,388
Establishment Labs Holdings, Inc. (Costa Rica)*		5,122		406,123
Glaukos Corp.*		10,999		560,949
Inogen, Inc.*		4,422		352,743
Integer Holdings Corp.*		7,835		766,968
Meridian Bioscience, Inc.*		10,303		211,212
Merit Medical Systems, Inc.*		11,714		821,034
Natus Medical, Inc.*		8,097		216,190
Neogen Corp.*		25,531		1,112,130
Orthofix Medical, Inc.*		4,646		184,632
Outset Medical, Inc.*		4,703		192,635
Pulmonx Corp.*		2,496		98,991
Shockwave Medical, Inc.*		7,564		1,376,648
Silk Road Medical, Inc.*		8,199		411,426
SmileDirectClub, Inc.*(a)		21,081		148,832
Treace Medical Concepts, Inc.*		2,756		83,397
Varex Imaging Corp.*		9,341		255,009
				12,266,381
Health Care Providers & Services — 2.8%
Accolade, Inc.*		3,908		182,933
AdaptHealth Corp.*		22,732		508,970
Addus HomeCare Corp.*		3,587		311,316
AMN Healthcare Services, Inc.*		11,232		1,129,490
Apria, Inc.*		1,763		55,587
Aveanna Healthcare Holdings, Inc.*		9,197		95,097
Brookdale Senior Living, Inc.*		44,014		330,985
Castle Biosciences, Inc.*		4,411		308,108
Clover Health Investments Corp.*		26,434		213,322
Community Health Systems, Inc.*		29,528		393,313
CorVel Corp.*		2,163		304,594
Covetrus, Inc.*		23,702		603,453
Ensign Group, Inc. (The)		12,284		1,045,000
Fulgent Genetics, Inc.*		4,207		388,096
Hanger, Inc.*		9,158		224,737
Hims & Hers Health, Inc.*		15,697		124,163
Magellan Health, Inc.*		5,535		522,061
MEDNAX, Inc.*		20,490		596,669
ModivCare, Inc.*		2,900		493,000
National HealthCare Corp.		2,927		227,282
National Research Corp.		3,205		169,160
Option Care Health, Inc.*		24,370		504,946
Owens & Minor, Inc.		17,863		826,164
Progyny, Inc.*		8,837		492,133
Select Medical Holdings Corp.		25,640		1,011,498
Surgery Partners, Inc.*		7,254		395,778
Tivity Health, Inc.*		9,013		226,046
Triple-S Management Corp. (Puerto Rico)*		5,628		136,929
US Physical Therapy, Inc.		3,062		361,806
				12,182,636
Health Care Technology — 1.2%
Allscripts Healthcare Solutions, Inc.*		33,556		573,136
Evolent Health, Inc., Class A*		18,808		431,456
GoodRx Holdings, Inc., Class A*(a)		14,882		477,266
Health Catalyst, Inc.*		7,939		460,938
Inovalon Holdings, Inc., Class A*		18,493		700,515
NextGen Healthcare, Inc.*		13,228		214,558
Omnicell, Inc.*		10,270		1,504,555
Phreesia, Inc.*		8,762		598,883
Tabula Rasa HealthCare, Inc.*		5,373		230,824
				5,192,131
Hotels, Restaurants & Leisure — 1.6%
Bally’s Corp.*		7,068		348,099
BJ’s Restaurants, Inc.*		5,526		224,245
Bloomin’ Brands, Inc.*		19,233		483,325
Brinker International, Inc.*		10,877		591,056
Cheesecake Factory, Inc. (The)*		10,964		496,231
Dave & Buster’s Entertainment, Inc.*		11,361		378,094
Dine Brands Global, Inc.*		4,076		315,768
El Pollo Loco Holdings, Inc.*		4,509		83,913
Papa John’s International, Inc.		7,867		897,782
Red Rock Resorts, Inc., Class A*		15,518		611,409

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
SeaWorld Entertainment, Inc.*		12,217		579,208
Shake Shack, Inc., Class A*		8,641		868,766
Wingstop, Inc.		7,072		1,211,504
				7,089,400
Household Durables — 2.7%
Cavco Industries, Inc.*		2,032		477,520
Century Communities, Inc.		6,973		484,275
GoPro, Inc., Class A*		29,733		304,466
Helen of Troy Ltd.*		5,813		1,298,566
Installed Building Products, Inc.		5,364		643,680
iRobot Corp.*		6,678		584,325
KB Home		21,121		896,375
La-Z-Boy, Inc.		11,003		369,481
LGI Homes, Inc.*		5,219		891,927
M/I Homes, Inc.*		6,937		448,893
MDC Holdings, Inc.		13,199		703,771
Meritage Homes Corp.*		8,998		977,003
Purple Innovation, Inc.*		14,497		381,851
Skyline Champion Corp.*		12,391		698,852
Sonos, Inc.*		23,400		781,092
Taylor Morrison Home Corp.*		30,653		822,114
Tri Pointe Homes, Inc.*		28,153		679,050
Tupperware Brands Corp.*		11,804		246,586
Vizio Holding Corp., Class A*		2,834		62,433
Vuzix Corp.*		13,343		197,476
				11,949,736
Household Products — 0.3%
Central Garden & Pet Co.*		2,320		112,033
Central Garden & Pet Co., Class A*		9,433		408,543
WD-40 Co.		3,257		791,418
				1,311,994
Independent Power and Renewable Electricity Producers — 0.3%
Clearway Energy, Inc.		7,484		201,694
Clearway Energy, Inc., Class C		18,272		524,041
Sunnova Energy International, Inc.*		15,438		588,188
				1,313,923
Industrial Conglomerates — 0.1%
Raven Industries, Inc.*		8,538		497,339
Insurance — 1.7%
Ambac Financial Group, Inc.*		10,980		159,430
American Equity Investment Life Holding Co.		20,419		655,246
AMERISAFE, Inc.		4,593		262,720
Argo Group International Holdings Ltd.		8,273		431,271
BRP Group, Inc., Class A*		11,079		302,014
eHealth, Inc.*		6,210		322,982
Employers Holdings, Inc.		6,776		281,339
Genworth Financial, Inc., Class A*		120,478		402,397
GoHealth, Inc., Class A*		12,126		106,709
Goosehead Insurance, Inc., Class A		3,991		479,678
Horace Mann Educators Corp.		9,861		392,566
James River Group Holdings Ltd.		8,858		322,254
Kinsale Capital Group, Inc.		5,096		910,375
MetroMile, Inc.*		16,781		118,977
Palomar Holdings, Inc.*		5,167		420,749
ProAssurance Corp.		12,824		260,071
Root, Inc., Class A*		12,806		97,710
Safety Insurance Group, Inc.		3,386		259,435
SiriusPoint Ltd. (Bermuda)*		18,055		176,939
Trupanion, Inc.*		7,998		919,930
United Fire Group, Inc.		5,133		127,914
				7,410,706
Interactive Media & Services — 0.6%
Angi, Inc.*		19,601		225,608
Cars.com, Inc.*		16,315		197,085
Eventbrite, Inc., Class A*		17,803		316,359
fuboTV, Inc.*		22,703		591,186
MediaAlpha, Inc., Class A*		5,236		174,883
ZoomInfo Technologies, Inc., Class A*		24,531		1,318,541
				2,823,662
Internet & Direct Marketing Retail — 0.8%
Groupon, Inc.*		5,472		199,017
Overstock.com, Inc.*		10,220		711,721
Porch Group, Inc.*		17,837		330,519
Quotient Technology, Inc.*		18,866		204,885
RealReal, Inc. (The)*		14,457		238,685
Revolve Group, Inc.*		8,505		592,033
Shutterstock, Inc.		5,301		575,105
Stitch Fix, Inc., Class A*		15,228		821,094
				3,673,059
IT Services — 1.7%
Cass Information Systems, Inc.		2,843		125,348
Conduent, Inc.*		40,898		274,426
CSG Systems International, Inc.		7,815		354,488
EVERTEC, Inc. (Puerto Rico)		14,234		622,026
ExlService Holdings, Inc.*		7,954		900,552
Paya Holdings, Inc.*		13,554		155,735
Perficient, Inc.*		7,852		740,365
Repay Holdings Corp.*		17,980		447,882
Sabre Corp.*		75,939		895,321
Shift4 Payments, Inc., Class A*		9,236		823,759
Switch, Inc., Class A		21,478		443,735
Sykes Enterprises, Inc.*		9,460		507,624
TTEC Holdings, Inc.		4,338		453,321
Unisys Corp.*		15,933		356,102
Verra Mobility Corp.*		32,422		496,381
				7,597,065
Leisure Products — 0.6%
Acushnet Holdings Corp.		8,095		414,707
Callaway Golf Co.*		27,657		876,174
Latham Group, Inc.*		4,864		132,690
Smith & Wesson Brands, Inc.		12,662		296,924
Sturm Ruger & Co., Inc.		4,182		310,973
Vista Outdoor, Inc.*		13,731		554,595
				2,586,063
Life Sciences Tools & Services — 1.3%
Bionano Genomics, Inc.*		66,287		393,082
Medpace Holdings, Inc.*		6,586		1,158,741
NanoString Technologies, Inc.*		10,744		665,483
NeoGenomics, Inc.*		28,030		1,292,183
Pacific Biosciences of California, Inc.*		47,155		1,516,033
Personalis, Inc.*		6,578		138,072
Quanterix Corp.*		6,476		344,200
Seer, Inc.*		3,099		98,982
				5,606,776
Machinery — 4.8%
Alamo Group, Inc.		2,354		345,497
Albany International Corp., Class A		7,295		629,923

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Altra Industrial Motion Corp.		14,475		907,293
Astec Industries, Inc.		5,401		331,135
Chart Industries, Inc.*		8,462		1,315,418
Columbus McKinnon Corp.		6,735		312,504
Desktop Metal, Inc., Class A*		34,655		311,895
Enerpac Tool Group Corp.		14,294		366,927
EnPro Industries, Inc.		4,894		455,729
ESCO Technologies, Inc.		6,188		583,962
Evoqua Water Technologies Corp.*		28,501		940,818
Federal Signal Corp.		14,390		569,988
Franklin Electric Co., Inc.		9,167		749,494
Gorman-Rupp Co. (The)		4,472		159,606
Greenbrier Cos., Inc. (The)		7,800		333,840
Helios Technologies, Inc.		7,277		588,345
Hillenbrand, Inc.		17,886		810,236
Hydrofarm Holdings Group, Inc.*		3,408		168,151
Hyster-Yale Materials Handling, Inc.		2,315		165,847
John Bean Technologies Corp.		7,545		1,105,946
Kadant, Inc.		2,750		495,357
Lindsay Corp.		2,595		416,991
Meritor, Inc.*		17,255		419,814
Mueller Industries, Inc.		13,580		589,372
Mueller Water Products, Inc., Class A		37,687		558,521
Omega Flex, Inc.		699		109,617
Proto Labs, Inc.*		6,584		514,803
Rexnord Corp.		28,460		1,603,152
SPX Corp.*		10,754		716,862
SPX FLOW, Inc.		10,038		824,622
Standex International Corp.		2,915		268,180
Tennant Co.		4,427		350,264
Terex Corp.		16,590		794,993
TriMas Corp.*		10,264		335,838
Wabash National Corp.		12,331		180,526
Watts Water Technologies, Inc., Class A		6,552		987,779
Welbilt, Inc.*		30,697		721,072
				21,040,317
Marine — 0.2%
Matson, Inc.		10,327		693,148
Media — 1.3%
AMC Networks, Inc., Class A*		7,302		365,392
Cardlytics, Inc.*		7,812		983,999
Clear Channel Outdoor Holdings, Inc.*		111,928		297,728
EW Scripps Co. (The), Class A		13,717		261,720
Gray Television, Inc.		21,068		467,078
iHeartMedia, Inc., Class A*		26,587		687,274
Loral Space & Communications, Inc. (Canada)		3,052		108,010
Meredith Corp.*		9,647		420,995
Scholastic Corp.		7,147		240,211
Sinclair Broadcast Group, Inc., Class A		11,644		329,409
TechTarget, Inc.*		5,619		410,637
TEGNA, Inc.		52,480		929,946
				5,502,399
Metals & Mining — 1.3%
Allegheny Technologies, Inc.*		30,241		620,848
Arconic Corp.*		23,275		836,503
Carpenter Technology Corp.		11,419		435,635
Century Aluminum Co.*		11,992		174,603
Coeur Mining, Inc.*		61,122		460,860
Commercial Metals Co.		28,650		939,720
Hecla Mining Co.		127,314		851,731
Kaiser Aluminum Corp.		3,766		458,247
Materion Corp.		4,847		345,882
Schnitzer Steel Industries, Inc., Class A		6,479		339,629
Warrior Met Coal, Inc.		12,221		228,166
				5,691,824
Mortgage Real Estate Investment Trusts (REITs) — 1.3%
Apollo Commercial Real Estate Finance, Inc.		30,593		465,625
Arbor Realty Trust, Inc.		29,419		537,779
ARMOUR Residential REIT, Inc.		16,939		176,166
Brightspire Capital, Inc.		19,126		181,888
Broadmark Realty Capital, Inc.		29,621		307,170
Capstead Mortgage Corp.		23,026		146,676
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		18,699		1,062,103
Invesco Mortgage Capital, Inc.		67,527		232,293
KKR Real Estate Finance Trust, Inc.		6,478		138,046
Ladder Capital Corp.		30,035		343,000
MFA Financial, Inc.		104,899		489,878
New York Mortgage Trust, Inc.		90,161		394,004
PennyMac Mortgage Investment Trust		23,278		459,042
Redwood Trust, Inc.		26,865		318,888
TPG RE Finance Trust, Inc.		14,262		187,688
				5,440,246
Multiline Retail — 0.5%
Big Lots, Inc.		7,589		437,202
Dillard’s, Inc., Class A		1,698		311,193
Franchise Group, Inc.		6,397		217,242
Macy’s, Inc.*		74,104		1,259,768
				2,225,405
Multi-Utilities — 0.2%
NorthWestern Corp.		12,044		746,608
Oil, Gas & Consumable Fuels — 3.5%
Antero Midstream Corp.		68,087		646,826
Antero Resources Corp.*		66,025		897,940
Arch Resources, Inc.*		3,638		239,089
Bonanza Creek Energy, Inc.		4,529		174,231
California Resources Corp.*		18,218		512,108
Callon Petroleum Co.*		10,995		432,763
Centennial Resource Development, Inc., Class A*		43,808		228,240
Clean Energy Fuels Corp.*		27,567		207,028
Comstock Resources, Inc.*		13,261		80,627
CVR Energy, Inc.		6,930		94,664
Delek US Holdings, Inc.		17,213		299,162
Denbury, Inc.*		11,890		781,292
EQT Corp.*		66,345		1,220,085
Extraction Oil & Gas, Inc.*		6,123		272,412
Gevo, Inc.*		44,747		272,509
Kosmos Energy Ltd. (Ghana)*		97,004		224,079
Magnolia Oil & Gas Corp., Class A*		34,631		484,834
Matador Resources Co.		26,095		806,335
Murphy Oil Corp.		34,504		749,082
Oasis Petroleum, Inc.		4,777		438,099
Ovintiv, Inc.		62,053		1,592,280
PBF Energy, Inc., Class A*		22,856		209,590
PDC Energy, Inc.		23,611		933,815

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
Range Resources Corp.*		61,711		939,859
Renewable Energy Group, Inc.*		11,333		694,146
SM Energy Co.		26,043		487,004
Southwestern Energy Co.*		154,500		727,695
Whiting Petroleum Corp.*		9,285		435,466
				15,081,260
Paper & Forest Products — 0.2%
Glatfelter Corp.		10,569		160,966
Mercer International, Inc. (Germany)		9,409		109,426
Neenah, Inc.		4,003		201,231
Resolute Forest Products, Inc.		18,804		224,520
Schweitzer-Mauduit International, Inc.		7,466		293,638
				989,781
Personal Products — 0.5%
Edgewell Personal Care Co.		12,926		531,000
elf Beauty, Inc.*		9,212		254,343
Inter Parfums, Inc.		4,215		324,007
Medifast, Inc.		2,792		797,144
USANA Health Sciences, Inc.*		2,740		261,040
				2,167,534
Pharmaceuticals — 1.4%
Aclaris Therapeutics, Inc.*		10,284		153,540
Aerie Pharmaceuticals, Inc.*		11,148		175,915
Amneal Pharmaceuticals, Inc.*		27,220		134,195
Arvinas, Inc.*		7,800		788,580
Atea Pharmaceuticals, Inc.*		2,950		73,868
Cassava Sciences, Inc.*		8,751		608,457
Corcept Therapeutics, Inc.*		24,954		518,295
Edgewise Therapeutics, Inc.*		2,692		47,137
Endo International plc*		55,457		280,612
Innoviva, Inc.*		14,945		211,920
Intra-Cellular Therapies, Inc.*		16,988		583,198
Nektar Therapeutics*		43,339		684,323
NGM Biopharmaceuticals, Inc.*		5,673		115,672
Nuvation Bio, Inc.*		15,001		129,609
Phathom Pharmaceuticals, Inc.*		3,130		100,473
Pliant Therapeutics, Inc.*		2,216		44,763
Relmada Therapeutics, Inc.*		3,357		87,282
Revance Therapeutics, Inc.*		15,810		459,755
Supernus Pharmaceuticals, Inc.*		12,601		331,784
Theravance Biopharma, Inc.*		12,100		157,058
Zogenix, Inc.*		13,269		215,091
				5,901,527
Professional Services — 1.3%
CBIZ, Inc.*		12,637		408,681
Exponent, Inc.		12,394		1,327,273
Forrester Research, Inc.*		2,638		123,590
Huron Consulting Group, Inc.*		5,366		263,632
ICF International, Inc.		4,029		368,936
Kelly Services, Inc., Class A*		7,962		174,527
Korn Ferry		12,836		882,347
ManTech International Corp., Class A		6,515		569,802
Skillsoft Corp.*(a)		16,405		142,723
TrueBlue, Inc.*		8,435		229,348
Upwork, Inc.*		21,888		1,133,579
				5,624,438
Real Estate Management & Development — 0.5%
Forestar Group, Inc.*		3,971		81,286
Kennedy-Wilson Holdings, Inc.		29,110		587,731
Marcus & Millichap, Inc.*		5,736		228,235
Newmark Group, Inc., Class A		38,777		499,448
RE/MAX Holdings, Inc., Class A		4,492		154,076
Realogy Holdings Corp.*		27,676		490,419
St. Joe Co. (The)		7,420		335,903
				2,377,098
Road & Rail — 0.6%
Heartland Express, Inc.		11,591		197,395
Marten Transport Ltd.		13,967		220,958
Saia, Inc.*		6,256		1,413,856
Schneider National, Inc., Class B		8,765		196,686
Werner Enterprises, Inc.		13,562		619,919
				2,648,814
Semiconductors & Semiconductor Equipment — 2.6%
ACM Research, Inc., Class A*		2,461		228,529
Ambarella, Inc.*		8,617		848,688
Amkor Technology, Inc.		25,541		629,330
Diodes, Inc.*		10,077		826,314
FormFactor, Inc.*		18,450		687,447
Ichor Holdings Ltd.*		6,674		344,178
Kulicke & Soffa Industries, Inc. (Singapore)		14,748		801,701
MACOM Technology Solutions Holdings, Inc.*		11,102		685,215
MaxLinear, Inc.*		16,304		786,342
Onto Innovation, Inc.*		11,659		817,063
Power Integrations, Inc.		14,417		1,398,305
Rambus, Inc.*		26,740		632,668
Semtech Corp.*		15,434		955,519
SiTime Corp.*		2,998		406,649
SunPower Corp.*		19,272		477,368
Ultra Clean Holdings, Inc.*		10,411		562,298
Veeco Instruments, Inc.*		11,931		276,799
				11,364,413
Software — 7.4%
8x8, Inc.*		26,122		667,678
Alarm.com Holdings, Inc.*		10,760		895,447
Altair Engineering, Inc., Class A*		10,868		758,152
Appfolio, Inc., Class A*		4,181		592,030
Appian Corp.*(a)		9,352		1,088,853
Asana, Inc., Class A*		6,542		464,875
Avaya Holdings Corp.*		18,094		438,237
Bottomline Technologies DE, Inc.*		9,349		377,326
Box, Inc., Class A*		33,210		794,383
BTRS Holdings, Inc.*		15,293		179,081
Cerence, Inc.*		8,992		966,730
Cloudera, Inc.*		53,115		842,935
Cornerstone OnDemand, Inc.*		14,796		709,320
E2open Parent Holdings, Inc.*(a)		29,792		299,410
Ebix, Inc.		5,590		168,930
Envestnet, Inc.*		12,940		973,476
Everbridge, Inc.*		8,955		1,264,625
Ideanomics, Inc.*(a)		71,882		170,360
InterDigital, Inc.		7,311		481,722
LivePerson, Inc.*		15,242		970,763
Medallia, Inc.*		20,540		695,690
MicroStrategy, Inc., Class A*		1,850		1,158,119
Mimecast Ltd.*		14,098		783,144
Momentive Global, Inc.*		29,080		610,680
ON24, Inc.*(a)		2,095		76,509
PagerDuty, Inc.*		13,902		564,282
Ping Identity Holding Corp.*		8,775		193,664
Progress Software Corp.		10,458		476,780

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
PROS Holdings, Inc.*		9,471		411,231
Q2 Holdings, Inc.*		12,579		1,299,537
Qualys, Inc.*		8,001		812,582
Rapid7, Inc.*		13,103		1,490,466
Riot Blockchain, Inc.*(a)		20,001		659,033
SailPoint Technologies Holding, Inc.*		21,943		1,096,931
Sprout Social, Inc., Class A*		6,768		601,269
SPS Commerce, Inc.*		8,525		928,799
Sumo Logic, Inc.*		3,785		78,160
Telos Corp.*		5,869		164,449
Tenable Holdings, Inc.*		16,313		698,196
Teradata Corp.*		26,055		1,293,891
Varonis Systems, Inc.*		25,236		1,544,443
Vonage Holdings Corp.*		56,173		801,027
Workiva, Inc.*		10,036		1,302,372
Xperi Holding Corp.		24,940		518,004
Yext, Inc.*		23,682		308,576
Zuora, Inc., Class A*		25,121		434,342
				32,106,509
Specialty Retail — 3.3%
Aaron’s Co., Inc. (The)		8,119		234,396
Abercrombie & Fitch Co., Class A*		14,720		556,563
Academy Sports & Outdoors, Inc.*		9,380		347,529
Arko Corp.*		15,382		127,671
Asbury Automotive Group, Inc.*		4,595		944,089
Bed Bath & Beyond, Inc.*		25,346		723,375
Blink Charging Co.*(a)		7,283		251,482
Boot Barn Holdings, Inc.*		6,953		600,878
Buckle, Inc. (The)		6,866		288,921
Camping World Holdings, Inc., Class A		9,372		368,882
Children’s Place, Inc. (The)*		3,486		293,974
Citi Trends, Inc.*		2,236		178,321
Designer Brands, Inc., Class A*		14,091		205,306
Dick’s Sporting Goods, Inc.		15,582		1,622,709
Group 1 Automotive, Inc.		4,057		704,863
GrowGeneration Corp.*		12,169		494,913
Guess?, Inc.		9,104		203,201
Monro, Inc.		7,962		461,796
Murphy USA, Inc.		5,949		877,537
National Vision Holdings, Inc.*		19,358		1,044,945
ODP Corp. (The)*		12,725		602,274
Rent-A-Center, Inc.		14,184		811,609
Sally Beauty Holdings, Inc.*		26,852		508,040
Signet Jewelers Ltd.		12,450		801,033
Sleep Number Corp.*		5,817		577,105
Sonic Automotive, Inc., Class A		5,553		302,916
Zumiez, Inc.*		5,020		219,123
				14,353,451
Technology Hardware, Storage & Peripherals — 0.6%
3D Systems Corp.*		29,729		818,737
Corsair Gaming, Inc.*(a)		5,041		147,147
NCR Corp.*		31,118		1,381,639
Super Micro Computer, Inc.*		10,090		383,823
				2,731,346
Textiles, Apparel & Luxury Goods — 0.6%
G-III Apparel Group Ltd.*		10,351		309,081
Kontoor Brands, Inc.		11,232		622,028
Levi Strauss & Co., Class A		19,790		544,621
Oxford Industries, Inc.		4,016		349,111
PLBY Group, Inc.*		4,853		136,758
Steven Madden Ltd.		18,298		802,001
				2,763,600
Thrifts & Mortgage Finance — 1.7%
Axos Financial, Inc.*		12,251		586,210
Capitol Federal Financial, Inc.		30,685		340,297
Columbia Financial, Inc.*		10,846		195,662
Flagstar Bancorp, Inc.		11,283		516,310
Kearny Financial Corp.		16,203		194,922
Merchants Bancorp		3,828		140,258
Meridian Bancorp, Inc.		12,470		238,302
Mr. Cooper Group, Inc.*		16,178		601,498
NMI Holdings, Inc., Class A*		20,345		447,997
Northfield Bancorp, Inc.		10,974		180,522
Northwest Bancshares, Inc.		30,253		402,667
PennyMac Financial Services, Inc.		9,043		568,714
Provident Financial Services, Inc.		17,238		372,341
Rocket Cos., Inc., Class A(a)		32,443		559,317
TrustCo Bank Corp.		4,582		154,093
Walker & Dunlop, Inc.		7,026		727,051
Washington Federal, Inc.		17,214		555,496
WSFS Financial Corp.		11,295		494,495
				7,276,152
Tobacco — 0.1%
Turning Point Brands, Inc.		2,813		149,145
Universal Corp.		5,828		303,989
				453,134
Trading Companies & Distributors — 1.4%
Applied Industrial Technologies, Inc.		9,240		828,828
Boise Cascade Co.		9,349		478,201
Global Industrial Co.		3,765		148,793
GMS, Inc.*		10,183		500,291
H&E Equipment Services, Inc.		7,554		257,063
Herc Holdings, Inc.*		5,910		733,076
McGrath RentCorp		5,760		451,699
NOW, Inc.*		26,206		258,653
Rush Enterprises, Inc., Class A		10,206		479,580
Triton International Ltd. (Bermuda)		15,859		837,197
WESCO International, Inc.*		10,494		1,117,086
				6,090,467
Water Utilities — 0.5%
American States Water Co.		8,775		775,008
California Water Service Group		12,081		757,237
SJW Group		6,511		448,803
				1,981,048
Wireless Telecommunication Services — 0.1%
Shenandoah Telecommunications Co.		11,875		626,881
TOTAL COMMON STOCKS (Cost $416,534,630)				426,182,819
SHORT-TERM INVESTMENTS — 3.4%
INVESTMENT COMPANIES — 1.6%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(c)(d) (Cost $7,094,776)		7,094,776		7,094,776

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

Investments	Shares		Value ($)
INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED — 1.8%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(c)(d) (Cost $7,723,461)		7,723,461		7,723,461
TOTAL SHORT-TERM INVESTMENTS (COST $14,818,237)				14,818,237
Total Investments — 101.6% (Cost $431,352,867)				441,001,056
Liabilities in Excess of Other Assets — (1.6)%				(7,021,421	)
Net Assets — 100.0%				433,979,635

Percentages indicated are based on net assets.

Abbreviations

REIT	Real Estate Investment Trust
(a)	The security or a portion of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 is $7,479,555.
(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.
(c)	Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.
(d)	The rate shown is the current yield as of July 31, 2021.
*	Non-income producing security.

Futures contracts outstanding as of July 31, 2021:

Description	Number of Contracts		Expiration Date		Trading Currency		Notional Amount ($)		Value and Unrealized Appreciation (Depreciation) ($)
Long Contracts
Russell 2000 E-Mini Index		67		09/2021		USD		7,442,695		(258,464	)

Abbreviations

USD United States Dollar

JPMorgan BetaBuilders U.S. Small Cap Equity ETF

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JULY 31, 2021 (Unaudited) (continued)

A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date.

Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.

Futures contracts are generally valued on the basis of available market quotations.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund’s investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments).

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”):

	Level 1 Quoted prices			Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Total Investments in Securities(a)	$	441,001,056		$	—	$	—	$	441,001,056
Depreciation in Other Financial Instruments
Futures Contracts(a)	$	(258,464	)	$	—	$	—	$	(258,464	)

(a) Please refer to the SOI for specifics of portfolio holdings.

B. Investment Transactions with Affiliates — The Fund invested in Underlying Funds, which are advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. Underlying Funds’ distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below.

For the period ended July 31, 2021
Security Description	Value at November 16, 2020 (a)		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation/ (Depreciation)		Value at July 31, 2021		Shares at July 31, 2021		Dividend Income		Capital Gain Distributions
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(b)(c)	$	—	$	16,252,698	$	9,157,922	$	—	$	—	$	7,094,776		7,094,776	$	487	$	—
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(b)(c)		—		41,392,419		33,668,958		—		—		7,723,461		7,723,461		544		—
Total	$	—	$	57,645,117	$	42,826,880	$	—	$	—	$	14,818,237			$	1,031	$	—

(a) Commencement of operations was November 16, 2020.

(b) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.

(c) The rate shown is the current yield as of July 31, 2021.