UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number            811-23477                  

                                    BNY Mellon ETF Trust                                 
(Exact name of registrant as specified in charter)

240 Greenwich Street

                        New York, New York 10286                         
(Address of principal executive offices) (Zip code)

Deirdre Cunnane, Esq.

240 Greenwich Street

                        New York, New York 10286                         

(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 922-6400

Date of fiscal year end:  June 30

Date of reporting period:  June 30, 2024

The following N-CSR relates only to the Registrant's series listed below and does not relate to any series of the Registrant with a different fiscal year end and, therefore, different N-CSR reporting requirements.  A separate N-CSR will be filed for any series with a different fiscal year end, as appropriate.

BNY Mellon Ultra Short Income ETF

BNY Mellon Responsible Horizons Corporate Bond ETF

Item 1. Reports to Stockholders.

(a)     The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).

BNY Mellon Ultra Short Income ETF 

Annual Shareholder Report

June 30, 2024

Ticker - BKUI (NYSE Arca, Inc.)

This annual shareholder report contains important information about BNY Mellon Ultra Short Income ETF (the “Fund”) for the period of July 1, 2023 to June 30, 2024.You can find additional information about the Fund at im.bnymellon.com/etfliterature. You can also request this information by calling us at 1-833-383-2696 or calling your financial adviser.

What were the Fund's costs for the last year? 

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
BNY Mellon Ultra Short Income ETF	$12	0.12%

How did the Fund perform last year?

• For the 12 month period ended June 30, 2024, the Fund’s shares returned 5.76% on a net asset value basis and 5.77% on a market price basis.

• In comparison, ICE BofA 3-Month U.S. Treasury Bill Index (the “Index”) returned 5.40% for the same period.

What affected the Fund's performance?  

• U.S. Treasury yields fell in the second half of 2023, then rose by a similar amount in 2024, with bonds maturing in two-to-three years ending the reporting period little changed.

• The Fund’s performance relative to the Index benefited from significant exposure to credit assets as credit spreads continued to move tighter over the 12-month period.

• The Fund’s exposure to commercial paper during the first half of 2024 provided a yield pick-up versus shorter U.S. government securities.

• In the first half of 2024, the Fund’s positions in fixed-rate securities detracted from relative performance as yields rose across the curve on expectations of higher-for-longer interest rates. 

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

How did the fund perform since its inception?

The Fund's past performance is not a good predictor of the Fund's future performance.The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

CUMULATIVE PERFORMANCE FROM AUGUST 9, 2021 THROUGH JUNE 30, 2024

INITIAL INVESTMENT OF $10,000

	BNY Mellon Ultra Short Income ETF - $10,792	Bloomberg U.S. Aggregate Bond Index (broad-based index) - $9,070Footnote Reference*	ICE BofA 3-Month U.S. Treasury Bill Index - $10,937
8/9/2021	10,000	10,000	10,000
9/30/2021	10,004	9,950	10,001
12/31/2021	9,976	9,951	10,002
3/31/2022	9,880	9,361	10,006
6/30/2022	9,846	8,921	10,016
9/30/2022	9,863	8,497	10,062
12/31/2022	9,966	8,656	10,147
3/31/2023	10,074	8,913	10,256
6/30/2023	10,204	8,838	10,376
9/30/2023	10,336	8,552	10,512
12/31/2023	10,538	9,135	10,656
3/31/2024	10,660	9,064	10,794
6/30/2024	10,792	9,070	10,937

Years Ended 6/30

The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each index on August 9, 2021, the Fund’s inception. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, an index is not subject to fees and other expenses. Investors cannot invest directly in any index.

AVERAGE ANNUAL TOTAL RETURNS (AS OF 6/30/24)

Fund	1 YR	Since Inception (August 9, 2021)
BNY Mellon Ultra Short Income ETF - NAV Return	5.76%	2.68%
BNY Mellon Ultra Short Income ETF - Market Price Return	5.77%	2.67%
Bloomberg U.S. Aggregate Bond Index (broad-based index)Footnote Reference*	2.63%	- 3.32%
ICE BofA 3-Month U.S. Treasury Bill Index	5.40%	3.15%

Footnote	Description
Footnote*	In accordance with regulatory changes requiring the Fund’s primary benchmark to represent the overall applicable market, the Fund’s primary prospectus benchmark changed to the indicated benchmark effective as of June 30, 2024.

The performance data quoted represent past performance, which is no guarantee of future results. For more current performance information, visit im.bnymellon.com/etfliterature.

KEY FUND STATISTICS (AS OF 6/30/24)

Fund size (Millions)	Number of Holdings	Total Advisory Fee Paid During Period ($)	Annual Portfolio Turnover
$74	113	63,419	42.44%

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

Portfolio Holdings (as of 6/30/24)

Sector Allocation

(Based on Net Assets)

Value	Value
Net Other Assets and Liabilities	0.5%
Energy	0.4%
Technology	1.6%
Industrial	1.8%
Investment Companies	2.0%
Communications	2.6%
Consumer, Non-cyclical	3.3%
Government	4.3%
Consumer, Cyclical	7.4%
Financial	76.1%

Allocation of Holdings

(Based on Net Assets)

Value	Value
Net Other Assets and Liabilities	0.5%
Asset-Backed Securities	0.1%
Investment Companies	2.0%
U.S. Treasury Government Securities	4.3%
Corporate Bonds	43.3%
Commercial Paper	49.8%

For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit im.bnymellon.com/etfliterature.

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

© 2024 BNY Mellon Securities Corporation,

240 Greenwich Street, 9th Floor, New York, NY 10281

Code-4862AR0624

BNY Mellon Responsible Horizons Corporate Bond ETF 

Annual Shareholder Report

June 30, 2024

Ticker - RHCB (NYSE Arca, Inc.)

This annual shareholder report contains important information about BNY Mellon Responsible Horizons Corporate Bond ETF (the “Fund”) for the period of July 1, 2023 to June 30, 2024.You can find additional information about the Fund at im.bnymellon.com/etfliterature. You can also request this information by calling us at 1-833-383-2696 or calling your financial adviser.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund's costs for the last year? 

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
BNY Mellon Responsible Horizons Corporate Bond ETF	$36	0.35%

How did the Fund perform last year?

• For the 12 month period ended June 30, 2024, the Fund’s shares returned 5.12% on a net asset value basis and 5.07% on a market price basis.

• In comparison, ICE BofA U.S. Corporate Index (the “Index”) returned 5.04% for the same period.

What affected the Fund's performance?  

• Economic growth propelled credit markets to gains, narrowing credit spreads as the Federal Reserve (“Fed”) ended its tightening cycle in September 2023.

• The Fund was positioned slightly long duration in anticipation of upcoming Fed rate cuts as inflation normalizes. However, this led to a slight drag on performance as the rate cuts were delayed. In addition, our overweight to the 7 year and 30 year was a slight drag on performance as the very short end of the curve outperformed and the curve steepened.

• Security selection and a large allocation to credit risk drove the Fund’s performance. As spreads tightened, the Fund’s overweight to lower-rated investment-grade bonds and a small allocation to high-yield bonds proved beneficial and upwards rating trends in securities held, providing performance tailwinds.

• Sector allocation effects were mixed as the Fund’s overweight to banks contributed to performance but its underweight to energy detracted.

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

How did the fund perform since its inception?

The Fund's past performance is not a good predictor of the Fund's future performance.The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

CUMULATIVE PERFORMANCE FROM MARCH 21, 2022 THROUGH JUNE 30, 2024

INITIAL INVESTMENT OF $10,000

	BNY Mellon Responsible Horizons Corporate Bond ETF - $9,980	Bloomberg U.S. Aggregate Bond Index (broad-based index) - $9,699Footnote Reference*	ICE BofA U.S. Corporate Index - $9,998
3/21/2022	10,000	10,000	10,000
3/31/2022	10,071	10,009	10,061
6/30/2022	9,306	9,539	9,386
9/30/2022	8,856	9,086	8,906
12/31/2022	9,180	9,256	9,220
3/31/2023	9,510	9,530	9,538
6/30/2023	9,494	9,450	9,518
9/30/2023	9,221	9,145	9,262
12/31/2023	9,981	9,768	9,995
3/31/2024	9,977	9,692	9,987
6/30/2024	9,980	9,699	9,998

Years Ended 6/30

The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each index on March 21, 2022, the Fund’s inception. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, an index is not subject to fees and other expenses. Investors cannot invest directly in any index.

AVERAGE ANNUAL TOTAL RETURNS (AS OF 6/30/24)

Fund	1 YR	Since Inception (March 21, 2022)
BNY Mellon Responsible Horizons Corporate Bond ETF - NAV Return	5.12%	- 0.09%
BNY Mellon Responsible Horizons Corporate Bond ETF - Market Price Return	5.07%	- 0.02%
Bloomberg U.S. Aggregate Bond Index (broad-based index)Footnote Reference*	2.63%	- 1.33%
ICE BofA U.S. Corporate Index	5.04%	- 0.01%

Footnote	Description
Footnote*	In accordance with regulatory changes requiring the Fund’s primary benchmark to represent the overall applicable market, the Fund’s primary prospectus benchmark changed to the indicated benchmark effective as of June 30, 2024.

The performance data quoted represent past performance, which is no guarantee of future results. For more current performance information, visit im.bnymellon.com/etfliterature.

KEY FUND STATISTICS (AS OF 6/30/24)

Fund size (Millions)	Number of Holdings	Total Advisory Fee Paid During Period ($)	Annual Portfolio Turnover
$23	276	78,566	56.72%

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

Portfolio Holdings (as of 6/30/24)

Sector Allocation

(Based on Net Assets)

Value	Value
Net Other Assets and Liabilities	-0.6%
Government	1.0%
Investment Companies	2.4%
Basic Materials	3.0%
Communications	5.3%
Technology	5.8%
Energy	6.3%
Industrial	6.8%
Consumer, Cyclical	7.3%
Utilities	9.2%
Consumer, Non-cyclical	17.6%
Financial	35.9%

Allocation of Holdings

(Based on Net Assets)

Value	Value
Net Other Assets and Liabilities	-0.6%
Forward Foreign Currency Exchange Contracts	0.0%Footnote Reference*
Futures	0.0%Footnote Reference*
Municipal Securities	0.0%Footnote Reference*
Investment of Cash Collateral for Securities Loaned	0.2%
Foreign Governmental	1.0%
Investment Companies	2.2%
Corporate Bonds	97.2%

Footnote	Description
Footnote*	Less than 0.1%.

How has the Fund changed?

• The Fund revised its investment strategy and related risks to more fully describe the sub-adviser’s investment processes. More information on the changes can be found in the Fund’s current prospectus dated November 1, 2023.

This is a summary of certain changes to the Fund since July 1, 2023. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by November 1, 2024 at im.bnymellon.com/etfliterature or upon request at 1-833-383-2696 or by calling your financial adviser.

For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit im.bnymellon.com/etfliterature.

  Not FDIC-Insured. Not Bank-Guaranteed. May Lose Value. 

© 2024 BNY Mellon Securities Corporation,

240 Greenwich Street, 9th Floor, New York, NY 10281

Code-4863AR0624

Item 1. Reports to Stockholders (cont.).

(b)     Not applicable.

Item 2. Code of Ethics.

(a)        As of the period ended June 30, 2024 (the “Reporting Period”), the Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer, controller or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party.

(c)        During the Reporting Period, there have been no amendments to a provision of the code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party, and that relates to any element of the code of ethics description.

(d)       During the Reporting Period, the Registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

Item 3. Audit Committee Financial Expert.

The Registrant’s Board of Trustees has determined that Mr. Kevin W. Quinn is qualified to serve as an audit committee financial expert serving on the Registrant’s audit committee and that he is “independent,” as defined by Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

(a)        Audit Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $43,299 in 2023 and $44,165 in 2024.

(b)        Audit-Related Fees

The aggregate fees billed for each of the last two fiscal years for assurance and related services rendered to the Registrant by the principal accountant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item were $12,240 in 2023 and $12,484 in 2024. These services consisted of security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended.

(c)        Tax Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered to the Registrant by the principal accountant for tax compliance, tax advice and tax planning were $7,752 in 2023 and $7,908 in 2024. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local entity tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification.

(d)       All Other Fees

The aggregate fees billed for each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 in 2023 and $0 in 2024.

(e)(1)   Pursuant to the Registrant’s Audit Committee Charter that has been adopted by the audit committee, the audit committee shall approve all audit and permissible non-audit services to be provided to the Registrant and all permissible non-audit services to be provided to its investment adviser or any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant if the engagement relates directly to the operations and financial reporting of the Registrant.

(e)(2)   The percentage of services described in paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, with respect to: Audit-Related Fees was 100%; Tax Fees was 100%; and All Other Fees was 0%. 

(f)        The percentage of hours expended on the principal accountant’s engagement to audit the Registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent. 

(g)        The aggregate non-audit fees billed by the Registrant’s accountant for services rendered to the Registrant, and rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant for each of the last two fiscal years of the Registrant were $269,097 in 2023 and $282,787 in 2024.

(h)        The Registrant’s audit committee has considered whether the provision of non-audit services that were rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

(i)         Not applicable.

(j)         Not applicable.

Item 5. Audit Committee of Listed Registrants.

(a)        The Registrant has a separately designated audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended, which consists of independent trustees of the Registrant.  The audit committee members are J. Charles Cardona, Kristen M. Dickey, F. Jack Liebau, Jr., Jill I. Mavro, Kevin W. Quinn, and Stacy L. Schaus.

(b)        Not applicable.

Item 6. Investments.

(a)               The Schedule of Investments in securities of unaffiliated issuers as of the close of the Reporting Period is included in the financial statements filed under Item 7 of this Form N-CSR.

(b)               Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

The following is a copy of the Registrant’s most recent financial statements and financial highlights. 

BNY

Mellon

ETF

Trust

ANNUAL

FINANCIALS

AND

OTHER

INFORMATION

June

30,

2024

BNY

Mellon

Ultra

Short

Income

ETF:

BKUI

Principal

U.S.

Listing

Exchange:

NYSE

Arca,

Inc.

IMPORTANT

NOTICE

–

CHANGES

TO

ANNUAL

AND

SEMI-ANNUAL

REPORTS 

The

Securities

and

Exchange

Commission

(the

“SEC”)

has

adopted

rule

and

form

amendments

which

have

resulted

in

changes

to

the

design

and

delivery

of

annual

and

semi-annual

fund

reports

(“Reports”).

Reports

are

now

streamlined

to

highlight

key

information.

Certain

information

previously

included

in

Reports,

including

financial

statements,

no

longer

appear

in

the

Reports

but

will

be

available

online

within

the

Semi-Annual

and

Annual

Financials

and

Other

Information,

delivered

free

of

charge

to

shareholders

upon

request,

and

filed

with

the

SEC.

Contents

The

Fund

Please

note

the

Annual

Financials

and

Other

Information

only

contains

Items

7-11

required

in

Form

N-CSR.

All

other

required

items

will

be

filed

with

the

SEC.

Item

7.

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

3

Statement

of

Investments

3

Statement

of

Assets

and

Liabilities

7

Statement

of

Operations

8

Statement

of

Changes

in

Net

Assets

9

Financial

Highlights

10

Notes

to

Financial

Statements

11

Report

of

Independent

Registered

Public

Accounting

Firm

16

Important

Tax

Information

17

Board

Members

Information

18

Officers

of

the

Trust

19

Item

8.

Changes

in

and

Disagreements

with

Accountants

for

Open-End

Management

Investment

Companies

21

Item

9.

Proxy

Disclosures

for

Open-End

Management

Investment

Companies

22

Item

10.

Remuneration

Paid

to

Directors,

Officers,

and

Others

of

Open-End

Investment

Companies

23

Item

11.

Statement

Regarding

Basis

for

Approval

of

Investment

Advisory

Contracts

24

Save

time.

Save

paper.

View

your

next

shareholder

report

online

as

soon

as

it’s

available.

Log

into

www.

im.bnymellon.com

and

sign

up

for

eCommunications.

It’s

simple

and

only

takes

a

few

minutes.

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

fund’s

portfolio

is

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

3

BNY

Mellon

Ultra

Short

Income

ETF

Statement

of

Investments

June

30,

2024

Item

7.

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.1%

Honda

Auto

Receivables

Owner

Trust,

Series

2021-3,

Class

A3,

0.41%,

11/18/2025

86,676

85,396

Total

Asset-Backed

Securities

(cost

$86,675)

85,396

Commercial

Paper

–

49.8%

Atlantic

Asset

Securitization

LLC,

5.41%,

7/10/2024

(a)(b)

1,000,000

998,219

Bank

of

Montreal,

5.48%,

9/04/2024

(a)(b)

1,400,000

1,385,979

Canadian

Imperial

Bank,

5.43%,

4/03/2025

(b)

1,500,000

1,440,051

Chariot

Funding

LLC,

5.51%

(1

Month

SOFR

+

0.17%),

10/02/2024

(a)(c)

750,000

750,014

Commonwealth

Bank

of

Australia,

5.22%,

10/16/2024

(a)(b)

1,600,000

1,574,016

Credit

Industriel

et

Commercial

5.28%,

1/09/2024

(a)(b)

1,000,000

984,518

5.35%,

2/06/2025

(a)(b)

1,300,000

1,256,282

DNB

ASA,

5.56%,

4/11/2025

(a)(b)

2,000,000

1,917,874

Fairway

Finance

Co.

LLC,

5.66%

(1

Month

SOFR

+

0.12%),

11/14/2024

(a)(c)

1,000,000

1,000,038

HSBC

Bank

PLC,

6.01%

(1

Month

SOFR

+

0.67%),

6/05/2025

(a)(c)

1,500,000

1,500,223

ING

(U.S.)

Funding

LLC,

5.40%,

9/05/2024

(b)

500,000

494,840

Liberty

Street

Funding

Corp.,

5.53%,

9/23/2024

(a)(b)

1,000,000

986,967

LMA

SA/LMA-Americas

LLC,

5.61%,

1/28/2025

(a)(b)

1,200,000

1,162,210

Macqurie

Bank

Ltd.,

5.29%,

9/16/2024

(a)(b)

2,000,000

1,975,615

Manhattan

Asset

Funding

Co.

LLC,

5.57%,

12/06/2024

(a)(b)

2,000,000

1,952,258

MetLife,

5.46%

(1

Month

SOFR

+

0.12%),

8/16/2024

(a)(c)

1,500,000

1,500,047

National

Bank,

5.47%,

4/01/2025

(b)

1,500,000

1,439,789

Natixis

SA,

5.45%,

8/05/2024

(b)

2,000,000

1,988,776

Old

Line

Funding

LLC

5.58%,

10/21/2024

(a)(b)

250,000

245,688

5.74%

(1

Month

SOFR

+

0.40%),

1/27/2025

(a)(c)

1,200,000

1,200,060

Societe

Generale

SA,

5.59%,

4/11/2025

(b)

1,000,000

959,031

Standard

Chartered

Bank,

5.26%,

10/01/2024

(b)

1,500,000

1,478,694

Svenska

Handelsbanken

 AB,

6.02%,

9/18/2024

(b)

425,000

419,851

Swedbank

AB

5.40%,

7/17/2024

(a)(b)

2,000,000

1,994,431

5.37%,

3/13/2025

(a)(b)

750,000

722,012

Toronto-Dominion

Bank

5.90%

(1

Month

SOFR

+

0.56%),

10/28/2024

(a)(c)

350,000

350,438

5.46%,

4/03/2025

(a)(b)

1,500,000

1,439,859

United

Overseas

Bank

Ltd.,

5.48%

(1

Month

SOFR

+

0.15%),

9/30/2024

(a)(c)

2,000,000

2,000,392

Westpac

Banking

Corp.

5.79%,

11/14/2024

(a)(b)

500,000

489,842

5.41%,

3/31/2025

(a)(b)

1,500,000

1,440,984

Total

Commercial

Paper

(cost

$37,063,915)

37,048,998

Corporate

Bonds

–

43.3%

Auto

Manufacturers

–

5.1%

American

Honda

Finance

Corp.

,

1.30%

,

9/09/2026

300,000

276,551

BMW

US

Capital

LLC

5.74%

(3

Month

SOFRIX

+

0.38%),

8/12/2024

(a)(c)

300,000

300,072

4.90%,

4/02/2027

(a)

600,000

598,064

General

Motors

Financial

Co.,

Inc.

5.40%,

4/06/2026

250,000

249,564

6.71%

(3

Month

SOFRIX

+

1.35%),

5/08/2027

(c)

350,000

352,893

Mercedes-Benz

Finance

North

America

LLC

5.20%,

8/03/2026

(a)

325,000

325,241

3.45%,

1/06/2027

(a)

325,000

312,766

PACCAR

Financial

Corp.

,

3.55%

,

8/11/2025

300,000

294,650

Toyota

Motor

Credit

Corp.

5.67%

(3

Month

SOFR

+

0.32%),

1/13/2025

(c)

300,000

300,081

6.01%

(3

Month

SOFR

+

0.65%),

3/19/2027

(c)

750,000

753,281

3,763,163

4

Statement

of

Investments

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

43.3%

(continued)

Banks

–

22.7%

ANZ

New

Zealand

Int'l

Ltd.

,

5.96%

(

3

Month

SOFR

+

0.60%

)

,

2/18/2025

(a)(c)

300,000

300,466

Bank

of

America

NA

,

5.53%

,

8/18/2026

300,000

302,188

Bank

of

Montreal

6.42%

(3

Month

SOFRIX

+

1.06%),

6/07/2025

(c)

350,000

351,852

5.27%,

12/11/2026

325,000

324,597

Bank

of

Nova

Scotia

(The)

5.81%

(3

Month

SOFR

+

0.46%),

1/10/2025

(c)

300,000

300,271

5.35%,

12/07/2026

750,000

751,144

Canadian

Imperial

Bank

of

Commerce

3.95%,

8/04/2025

275,000

270,403

6.59%

(3

Month

SOFR

+

1.22%),

10/02/2026

(c)

375,000

379,333

Citigroup,

Inc.

6.89%

(3

Month

SOFR

+

1.53%),

3/17/2026

(c)

300,000

302,422

6.13%

(3

Month

SOFR

+

0.77%),

6/09/2027

(c)

700,000

700,422

Commonwealth

Bank

of

Australia

,

6.11%

(

3

Month

SOFR

+

0.75%

)

,

3/13/2026

(a)(c)

350,000

351,821

Goldman

Sachs

Group,

Inc.

(The)

,

6.15%

(

3

Month

SOFR

+

0.79%

)

,

12/09/2026

(c)

725,000

725,940

ING

Groep

NV

,

3.95%

,

3/29/2027

600,000

579,403

JPMorgan

Chase

&

Co.

,

6.68%

(

3

Month

SOFR

+

1.32%

)

,

4/26/2026

(c)

300,000

302,555

JPMorgan

Chase

Bank

NA

,

5.11%

,

12/08/2026

325,000

325,006

KeyBank

NA

,

4.70%

,

1/26/2026

300,000

294,144

Manufacturers

&

Traders

Trust

Co.

,

4.65%

,

1/27/2026

300,000

294,641

Mitsubishi

UFJ

Financial

Group,

Inc.

,

6.75%

(

3

Month

SOFR

+

1.39%

)

,

9/12/2025

(c)

350,000

350,791

Morgan

Stanley

Bank

NA

,

6.52%

(

3

Month

SOFR

+

1.17%

)

,

10/30/2026

(c)

500,000

506,897

National

Australia

Bank

Ltd.

5.73%

(3

Month

SOFR

+

0.38%),

1/12/2025

(a)(c)

300,000

300,199

1.89%,

1/12/2027

(a)

375,000

347,450

National

Bank

of

Canada

,

5.25%

,

1/17/2025

300,000

299,234

Natwest

Markets

PLC

,

6.26%

(

3

Month

SOFR

+

0.90%

)

,

5/17/2027

(a)(c)

500,000

500,469

NatWest

Markets

PLC

5.89%

(3

Month

SOFR

+

0.53%),

8/12/2024

(a)(c)

350,000

350,115

1.60%,

9/29/2026

(a)

225,000

206,688

PNC

Financial

Services

Group,

Inc.

(The)

,

2.60%

,

7/23/2026

325,000

307,785

Royal

Bank

of

Canada

Series

G,

5.80%

(3

Month

SOFRIX

+

0.44%),

1/21/2025

(c)

300,000

299,878

Series

G,

6.31%

(3

Month

SOFRIX

+

0.95%),

1/19/2027

(c)

650,000

655,338

Standard

Chartered

PLC

,

7.11%

(

3

Month

SOFR

+

1.74%

)

,

3/30/2026

(a)(c)

350,000

352,316

State

Street

Corp.

3.55%,

8/18/2025

98,000

96,150

5.27%,

8/03/2026

225,000

225,474

6.20%

(3

Month

SOFRIX

+

0.85%),

8/03/2026

(c)

350,000

351,503

Sumitomo

Mitsui

Financial

Group,

Inc.

,

1.40%

,

9/17/2026

300,000

275,445

Sumitomo

Mitsui

Trust

Bank

Ltd.

5.80%

(3

Month

SOFR

+

0.44%),

9/16/2024

(a)(c)

300,000

300,159

6.48%

(3

Month

SOFR

+

1.12%),

3/09/2026

(a)(c)

300,000

303,106

5.65%,

9/14/2026

(a)

325,000

327,055

Toronto-Dominion

Bank

(The)

5.71%

(3

Month

SOFR

+

0.35%),

9/10/2024

(c)

300,000

300,099

5.53%,

7/17/2026

200,000

200,749

US

Bancorp

1.45%,

5/12/2025

1,600,000

1,545,619

Series

V,

2.38%,

7/22/2026

325,000

306,766

Wells

Fargo

&

Co.

,

3.00%

,

2/19/2025

300,000

295,194

Wells

Fargo

Bank

NA

,

5.55%

,

8/01/2025

750,000

751,220

Westpac

Banking

Corp.

,

5.66%

(

3

Month

SOFR

+

0.30%

)

,

11/18/2024

(c)

300,000

300,106

16,912,413

5

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

43.3%

(continued)

Computers

–

0.4%

International

Business

Machines

Corp.

,

4.00%

,

7/27/2025

300,000

295,799

295,799

Diversified

Financial

Services

–

2.2%

American

Express

Co.

6.12%

(3

Month

SOFR

+

0.76%),

2/13/2026

(c)

250,000

251,251

2.55%,

3/04/2027

750,000

701,162

Charles

Schwab

Corp.

(The)

5.88%

(3

Month

SOFRIX

+

0.52%),

5/13/2026

(c)

300,000

300,084

5.88%,

8/24/2026

350,000

354,125

1,606,622

Healthcare-Services

–

0.9%

Roche

Holdings,

Inc.

,

6.10%

(

3

Month

SOFR

+

0.74%

)

,

11/13/2026

(a)(c)

650,000

654,914

654,914

Insurance

–

0.4%

Prudential

Financial,

Inc.

,

1.50%

,

3/10/2026

300,000

282,262

282,262

Machinery-Construction

&

Mining

–

1.0%

Caterpillar

Financial

Services

Corp.

,

5.88%

(

3

Month

SOFR

+

0.52%

)

,

5/14/2027

(c)

750,000

752,508

752,508

Machinery-Diversified

–

0.8%

John

Deere

Capital

Corp.

4.80%,

1/09/2026

300,000

298,243

1.70%,

1/11/2027

350,000

322,867

621,110

Media

–

0.9%

Comcast

Corp.

,

2.35%

,

1/15/2027

750,000

702,371

702,371

Oil

&

Gas

–

0.4%

BP

Capital

Markets

America,

Inc.

,

3.41%

,

2/11/2026

300,000

291,668

291,668

Pharmaceuticals

–

2.4%

AbbVie,

Inc.

,

2.95%

,

11/21/2026

350,000

333,703

Cigna

Group

(The)

,

5.69%

,

3/15/2026

650,000

650,035

CVS

Health

Corp.

,

3.00%

,

8/15/2026

300,000

285,933

Pfizer

Investment

Enterprises

Pte

Ltd.

,

4.45%

,

5/19/2026

250,000

246,894

Shire

Acquisitions

Investments

Ireland

DAC

,

3.20%

,

9/23/2026

300,000

287,764

1,804,329

Real

Estate

–

0.9%

Simon

Property

Group

LP

,

1.38%

,

1/15/2027

725,000

661,765

661,765

Retail

–

2.3%

Home

Depot,

Inc.

(The)

,

4.00%

,

9/15/2025

750,000

739,340

Target

Corp.

,

1.95%

,

1/15/2027

700,000

651,639

Walmart,

Inc.

,

3.90%

,

9/09/2025

300,000

295,774

1,686,753

Semiconductors

–

0.4%

Intel

Corp.

,

3.70%

,

7/29/2025

300,000

294,941

294,941

Software

–

0.8%

Oracle

Corp.

,

2.65%

,

7/15/2026

300,000

284,387

Salesforce,

Inc.

,

0.63%

,

7/15/2024

300,000

299,427

583,814

6

Statement

of

Investments

(continued)

See

Notes

to

Fina

ncial

Statements

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

43.3%

(continued)

Telecommunications

–

1.7%

AT&T,

Inc.

,

4.25%

,

3/01/2027

700,000

683,846

T-Mobile

USA,

Inc.

,

3.75%

,

4/15/2027

600,000

576,817

1,260,663

Total

Corporate

Bonds

(cost

$32,221,420)

32,175,095

U.S.

Treasury

Government

Securities

–

4.3%

U.S.

Treasury

Notes

3.13%,

8/15/2025

1,750,000

1,713,530

4.88%,

11/30/2025

1,500,000

1,498,506

Total

U.S.

Treasury

Government

Securities

(cost

$3,234,915)

3,212,036

Shares

Investment

Companies

–

2.0%

Registered

Investment

Companies

–

2.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.27%

(d)(e)

(cost

$1,494,113)

1,494,113

1,494,113

Total

Investments

(cost

$74,101,038)

99.5%

74,015,638

Cash

and

Receivables

(Net)

0.5%

368,065

Net

Assets

100.0%

74,383,703

SOFR—Secured

Overnight

Financing

Rate

SOFRIX—Secured

Overnight

Financing

Rate

Index

(a)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

June

30,

2024,

these

securities

were

valued

at

$34,658,867

or

46.59%

of

net

assets.

(b)

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

(c)

Variable

rate

security

-

rate

shown

is

the

interest

rate

in

effect

at

period

end.

Security

description

also

includes

the

reference

rate

and

spread

if

published

and

available.

(d)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

(e)

The

rate

shown

is

the

1-day

yield

as

of

June

30,

2024.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

June

30,

2024

are

as

follows:

Description

Value

($)

6/30/23

Purchases

($)

1

Sales

($)

Value

($)

6/30/24

Dividends/

Distributions

($)

Investment

Companies

–

2.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

39,339

75,033,420

(73,578,646)

1,494,113

97,699

Total

–

2.0%

39,339

75,033,420

(73,578,646)

1,494,113

97,699

1

Includes

reinvested

dividends/distributions.

7

STATEMENT

OF

ASSETS

AND

LIABILITIES

June

30,

2024

See

Notes

to

Financial

Statements

Cost

Value

Assets

($):

Investments

in

securities—See

Statement

of

Investments:

–

Unaffiliated

issuers

72,606,925

72,521,525‌

Affiliated

issuers

1,494,113

1,494,113‌

Interest

receivable

371,339‌

Dividends

receivable

4,031‌

74,391,008‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

7,305‌

7,305‌

Net

Assets

($)

74,383,703‌

Composition

of

Net

Assets

($):

Paid-in

capital

74,494,211‌

Total

distributable

earnings

(loss)

(110,508‌)

Net

Assets

($)

74,383,703‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

1,500,001‌

Net

asset

value

per

share

49.59‌

Market

price

per

share

49.58‌

8

STATEMENT

OF

OPERATIONS

Year

Ended

June

30,

2024

See

Notes

to

Financial

Statements

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

97,699‌

Interest

2,553,163‌

Total

Income

2,650,862‌

Expenses:

Management

fee—Note

3(a)

63,419‌

Total

Expenses

63,419‌

Net

Investment

Income

2,587,443‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(16,315‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

241,251‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

224,936‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

2,812,379‌

9

STATEMENT

OF

CHANGES

IN

NET

ASSETS

See

Notes

to

Financial

Statements

Year

Ended

June

30,

2024

2023

Operations

($):

Net

investment

income

2,587,443‌

887,148‌

Net

realized

gain

(loss)

on

investments

(16,315‌)

(9,700‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

241,251‌

117,584‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

2,812,379‌

995,032‌

Distributions

($):

Distributions

to

shareholders

(2,459,830‌)

(878,254‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

47,001,580‌

4,886,067‌

Cost

of

shares

redeemed

(2,473,521‌)

(2,436,261‌)

Transaction

fees—Note

5

4,948‌

732‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

44,533,007‌

2,450,538‌

Total

Increase

(Decrease)

in

Net

Assets

44,885,556‌

2,567,316‌

Net

Assets

($):

Beginning

of

Period

29,498,147‌

26,930,831‌

End

of

Period

74,383,703‌

29,498,147‌

Changes

in

Shares

Outstanding:

Shares

sold

950,000‌

100,000‌

Shares

redeemed

(50,000‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

900,000‌

50,000‌

10

FINANCIAL

HIGHLIGHTS

The

following

table

describes

the

performance

for

the

fiscal

periods

indicated.

See

Notes

to

Financial

Statements

Year

Ended

June

30,

For

the

Period

from

August

11,

2021

(a)

to

June

30,

2022

2024

2023

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

49.16‌

48.97‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

2.41‌

1.56‌

0.17‌

Net

realized

and

unrealized

gain

(loss)

on

investments

0.36‌

0.18‌

(0.94‌)

Total

from

Investment

Operations

2.77‌

1.74‌

(0.77‌)

Distributions:

–

–

–

Dividends

from

net

investment

income

(2.34‌)

(1.55‌)

(0.27‌)

Transaction

fees

(b)

0.00‌

(c)

0.00‌

(c)

0.01‌

Net

asset

value,

end

of

period

49.59‌

49.16‌

48.97‌

Market

price,

end

of

period

49.58‌

49.15‌

48.96‌

Net

Asset

Value

Total

Return

(%)

(d)

5.76‌

3.64‌

(1.54‌)

(e)

Market

Price

Total

Return

(%)

(d)

5.77‌

3.62‌

(1.55‌)

(e)

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.12‌

0.12‌

0.12‌

(f)

Ratio

of

net

investment

income

to

average

net

assets

4.90‌

3.19‌

0.39‌

(f)

Portfolio

Turnover

Rate

(g)

42.44‌

20.55‌

43.10‌

Net

Assets,

end

of

period

($

x

1,000)

74,384‌

29,498‌

26,931‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

Amount

represents

less

than

$0.01

per

share.

(d)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(e)

The

net

asset

value

total

return

and

the

market

price

total

return

is

calculated

from

fund

inception.

The

inception

date

is

the

first

date

the

fund

was

available

on

NYSE

Arca,

Inc.

(f)

Annualized.

(g)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

11

NOTES

TO

FINANCIAL

STATEMENTS

NOTE

1—Organization:

BNY

Mellon

Ultra

Short

Income

ETF (the “fund”) is a

separate

diversified series

of

BNY

Mellon

ETF

Trust

(the

“Trust”),

which is

registered as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-ended

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

thirteen

series,

including

the

fund.

The

investment

objective

of

the

fund

is

to

seek

high

current

income

consistent

with

the

maintenance

of

liquidity

and

low

volatility

of

principal.

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY”),

serves

as

the

fund’s

investment

adviser. Dreyfus,

a

division

of

Mellon

Investments

Corporation (the

“Sub-Adviser”),

an

indirect wholly-owned

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser,

serves

as

the

fund’s

sub-adviser.

The

Bank

of

New

York

Mellon,

a

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser,

serves

as

administrator,

custodian

and

transfer

agent

with

the

Trust.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

the

fund’s

shares.

The

shares

of

the

fund

are

referred

to

herein

as

“Shares”

or

“Fund

Shares.”

Fund

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

the

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

the

fund

issues

and

redeems

Shares

on

a

continuous

basis,

at

NAV,

only

in

a

large

specified

number

of

Shares,

each

called

a

“Creation

Unit”.

Creation

Units

are

issued

and

redeemed

principally

in

exchange

for

the

deposit

or

delivery

of

a

basket

of

securities.

Except

when

aggregated

in

Creation

Units

by

Authorized

Participants,

the

Shares

are

not

individually

redeemable

securities

of

the

fund.

Individual

Fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

Fund

Shares

trade

at

market

prices

rather

than

at

NAV,

Fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask). 

NOTE

2—Significant

Accounting

Policies: 

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

SEC

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants. The

fund

is an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies. The

fund’s

financial

statements

are

prepared

in

accordance

with

GAAP,

which

may

require

the

use

of

management

estimates

and

assumptions.

Actual

results

could

differ

from

those

estimates.  

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

fund’s

maximum

exposure

under

these

arrangements

is

unknown.

The

fund

does

not

anticipate

recognizing

any

loss

related

to

these

arrangements. 

(a)

Portfolio

valuation:

The

fair

value

of

a

financial

instrument

is

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price).

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

of

valuation

techniques

used

to

measure

fair

value.

This

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Additionally,

GAAP

provides

guidance

on

determining

whether

the

volume

and

activity

in

a

market

has

decreased

significantly

and

whether

such

a

decrease

in

activity

results

in

transactions

that

are

not

orderly.

GAAP

requires

enhanced

disclosures

around

valuation

inputs

and

techniques

used

during

annual

and

interim

periods.

Various

inputs

are

used

in

determining

the

value

of

the

fund’s

investments

relating

to

fair

value

measurements.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

1

—

unadjusted

quoted

prices

in

active

markets

for

identical

investments.

Level

2

—

other

significant

observable

inputs

(including

quoted

prices

for

similar investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Level

3

—

significant

unobservable

inputs

(including

the

fund’s

own

assumptions

in

determining

the

fair

value

of

investments).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

Changes

in

valuation

techniques

may

result

in

transfers

in

or

out

of

an

assigned

level

within

the

disclosure

hierarchy.

Valuation

techniques

used

to

value

the

fund’s

investments

are

as

follows:

Registered

investment

companies

that

are

not

traded

on

an

exchange

are

valued

at

their

net

asset

value

and

are

generally

categorized

within

Level 1

of

the

fair

value

hierarchy.

12

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

The

Trust’s Board

of

Trustees

(the

“Board”)

has

designated

the

Adviser

as

the

fund’s

valuation

designee

to

make

all

fair

value

determinations

with

respect

to

the

fund’s

portfolio

of

investments,

subject

to

the

Board’s

oversight

and

pursuant

to

Rule

2a-5

under

the

Act.

Investments

in

debt

securities

excluding

short-term

investments

(other

than

U.S.

Treasury

Bills)

are

valued

each

business

day

by

one

or

more

independent

pricing

services

(each,

a

“Service”)

approved

by the Board.

Investments

for

which

quoted

bid

prices

are

readily

available

and

are

representative

of

the

bid

side

of

the

market

in

the

judgment

of

a

Service

are

valued

at

the

mean

between

the

quoted

bid

prices

(as

obtained

by

a

Service

from

dealers

in

such

securities)

and

asked

prices

(as

calculated

by

a

Service

based

upon

its

evaluation

of

the

market

for

such

securities).

Securities

are

valued

as

determined

by

a

Service,

based

on

methods

which

include

consideration

of

the

following:

yields

or

prices

of

securities

of

comparable

quality,

coupon,

maturity

and

type;

indications

as

to

values

from

dealers;

and

general

market

conditions.

Each

Service

and

independent

valuation

firm

is

engaged

under

the

general

oversight

of

the

Board.

Overnight

and

certain

other

short-term

debt

instruments

(excluding

U.S.

Treasury

Bills)

will

be

valued

by

the

amortized

cost

method,

which

approximates

value,

unless

a

Service

provides

a

valuation

for

such

security

or,

in

the

opinion

of

the

Board

or

a

committee

or

other

persons

designated

by

the

Board,

the

amortized

cost

method

would

not

represent

fair

value. These

securities

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

fair

value

accurately,

they are

valued

at

fair

value

as

determined

in

good

faith

based

on

procedures

approved

by

the

Board.

Fair

value

of

investments

may

be

determined

by

valuation

designee

using

such

information

as

it

deems

appropriate

under

the

circumstances.

Certain

factors

may

be

considered

when

fair

valuing

investments

such

as:

fundamental

analytical

data,

the

nature

and

duration

of

restrictions

on

disposition,

an

evaluation

of

the

forces

that

influence

the

market

in

which

the

securities

are

purchased

and

sold,

and

public

trading

in

similar

securities

of

the

issuer

or

comparable

issuers.

These

securities

are

either

categorized

within

Level

2

or

3

of

the

fair

value

hierarchy

depending

on

the

relevant

inputs

used.

For

securities

where

observable

inputs

are

limited,

assumptions

about

market

activity

and

risk

are

used

and

are

generally

categorized

within

Level

3

of

the

fair

value

hierarchy.

The

table

below

summarizes

the

inputs

used

as

of June

30,

2024

in

valuing

the

fund’s

investments:

Fair

Value

Measurements

(b) Securities

transactions

and

investment

income:

Securities

transactions

are

recorded

on

a

trade

date

basis.

Realized

gains

and

losses

from

securities

transactions

are

recorded

on

the

identified

cost

basis.

Dividend

income

is

recognized

on

the

ex-dividend

date

and

interest

income,

including,

where

applicable,

accretion

of

discount

and

amortization

of

premium

on

investments,

is

recognized

on

the

accrual

basis.

(c)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

or

its

affiliates are

defined

as

“affiliated”

under

the

Act. 

(d)

Market

Risk:

The

value

of

the

securities

in

which

the

fund

invests

may

be

affected

by

political,

regulatory,

economic

and

social

developments,

and

developments

that

impact

specific

economic

sectors,

industries

or

segments

of

the

market.

In

addition,

turbulence

in

financial

markets

and

reduced

liquidity

in

equity,

credit

and/or

fixed

income

markets

may

negatively

affect

many

issuers,

which

could

adversely

affect

the

fund.

Global

economies

and

financial

markets

are

becoming

increasingly

interconnected,

and

conditions

and

events

in

one

country,

region

or

financial

market

may

adversely

impact

issuers

in

a

different

country,

region

or

financial

market.

These

risks

may

be

magnified

if

certain

events

or

developments

adversely

interrupt

the

global

supply

chain;

in

these

and

other

circumstances,

such

risks

might

affect

companies

world-wide.

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Total

Assets

($)

Investments

In

Securities:

†

Asset-Backed

Securities

—

85,396

—

85,396

Commercial

Paper

—

37,048,998

—

37,048,998

Corporate

Bonds

—

32,175,095

—

32,175,095

U.S.

Treasury

Government

Securities

—

3,212,036

—

3,212,036

Investment

Companies

1,494,113

—

—

1,494,113

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

13

Fixed-Income

Market

Risk:

The

market

value

of

a

fixed-income

security

may

decline

due

to

general

market

conditions

that

are

not

specifically

related

to

a

particular

company,

such

as

real

or

perceived

adverse

economic

conditions,

changes

in

the

outlook

for

corporate

earnings,

changes

in

interest

or

currency

rates

or

adverse

investor

sentiment

generally.

The

fixed-income

securities

market

can

be

susceptible

to

increases

in

volatility

and

decreases

in

liquidity.

Liquidity

can

decline

unpredictably

in

response

to

overall

economic

conditions

or

credit

tightening.

Increases

in

volatility

and

decreases

in

liquidity

may

be

caused

by

a

rise

in

interest

rates

(or

the

expectation

of

a

rise

in

interest

rates).

An

unexpected

increase

in

redemption

requests,

including

requests

from

Authorized

Participants

who

may

own

a

significant

percentage

of

the

fund’s

shares,

which

may

be

triggered

by

market

turmoil

or

an

increase

in

interest

rates,

could

cause

the

fund

to

sell

its

holdings

at

a

loss

or

at

undesirable

prices

and

adversely

affect

the

fund’s

share

price

and

increase

the

fund’s

liquidity

risk,

fund

expenses

and/or

taxable

distributions.

Federal

Reserve

policy

in

response

to

market

conditions,

including

with

respect

to

interest

rates,

may

adversely

affect

the

value,

volatility

and

liquidity

of

dividend

and

interest

paying

securities.

Policy

and

legislative

changes

worldwide

are

affecting

many

aspects

of

financial

regulation.

The

impact

of

these

changes

on

the

markets

and

the

practical

implications

for

market

participants

may

not

be

fully

known

for

some

time.

Commercial

Paper

Risk:

Commercial

paper

is

a

short-term

obligation

with

a

maturity

generally

ranging

from one

to

270

days

and

is

issued

by

U.S.

or

foreign

companies

or

other

entities

in

order

to

finance

their

current

operations.

Such

investments

are

unsecured

and

usually

discounted

from

their

value

at

maturity.

The

value

of

commercial

paper

may

be

affected

by

changes

in

the

credit

rating

or

financial

condition

of

the

issuing

entities

and

will

tend

to

fall

when

interest

rates

rise

and

rise

when

interest

rates

fall.

Authorized

Participants,

Market

Makers

and

Liquidity

Providers

Risk:

The

fund

has

a

limited

number

of

financial

institutions

that

may

act

as

Authorized

Participants,

which

are

responsible

for

the

creation

and

redemption

activity

for

the

fund.

In

addition,

there

may

be

a

limited

number

of

market

makers

and/or

liquidity

providers

in

the

marketplace.

To

the

extent

either

of

the

following

events

occur,

fund

shares

may

trade

at

a

material

discount

to

net

asset

value

and

possibly

face

delisting:

(i)

Authorized

Participants

exit

the

business

or

otherwise

become

unable

to

process

creation

and/or

redemption

orders

and

no

other

Authorized

Participants

step

forward

to

perform

these

services,

or

(ii)

market

makers

and/or

liquidity

providers

exit

the

business

or

significantly

reduce

their

business

activities

and

no

other

entities

step

forward

to

perform

their

functions.

(e)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions

are

recorded

on

the

ex-dividend

date.

Dividends

from

net

investment

income

are

normally

declared

and

paid

on

a

monthly

basis.

Dividends

from

net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

the

fund

may

make

distributions

on

a

more

frequent

basis

to

comply

with

the

distribution

requirements

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

To

the

extent

that

net

realized

capital

gains

can

be

offset

by

capital

loss

carryovers

of

a

fund,

it

is

the

policy

of

the

fund

not

to

distribute

such

gains.

Income

and

capital

gain

distributions

are

determined

in

accordance

with

income

tax

regulations,

which

may

differ

from

GAAP.

(f)

Federal

income

taxes:

It

is

the

policy

of

the

fund

to

continue to

qualify

as

a

regulated

investment

company,

if

such

qualification

is

in

the

best

interests

of

its

shareholders,

by

complying

with

the

applicable

provisions

of

the

Code,

and

to

make

distributions

of

taxable

income

and

net

realized

capital

gain sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

As

of

and

during

the period

ended June

30,

2024,

the

fund

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

The

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statement

of

Operations.

During

the period

ended June

30,

2024,

the

fund

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

three-year

period

ended June

30,

2024

remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities.

At June

30,

2024,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

undistributed

ordinary

income

$318,928,

accumulated

capital

losses

$324,269,

and

unrealized depreciation

$105,167.

The

fund is

permitted

to

carry

forward

capital

losses

for

an

unlimited

period.

Furthermore,

capital

loss

carryovers

retain

their

character

as

either

short-term

or

long-term

capital

losses.

The

accumulated

capital

loss

carryover

is

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to

June

30,

2024.

The

fund

has

$119,472

of

short-term

capital

losses

and

$204,797

of

long-term

capital

losses

which

can

be

carried

forward

for

an

unlimited

period.

The

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

years

ended

June

30,

2024

and

June

30,

2023

were

as

follows:

ordinary

income

$2,459,830

and

$878,254,

respectively.

14

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

NOTE

3—Management

Fee,

Sub-Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Pursuant

to

a

management

agreement

with

the

Adviser,

the

management

fee

is computed

at

an

annual

rate of

0.12%

of

the

value

of

the

fund’s

average

daily

net

assets

and

is

payable

monthly.

The

fund’s

management

agreement

provides

that

the

Adviser

pays

substantially

all

expenses

of

the

fund,

except

for

the

management

fees,

payments

under

the

fund’s

12b-1

plan

(if

any),

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

The

Adviser

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended

June

30,

2024,

there

was

no

reduction

in

expenses

pursuant

to

the

undertaking.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Sub-Adviser

serves

as

the

fund’s

sub-

adviser

responsible

for

the

day-to-day

management

of

the

fund’s

portfolio.

The

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

percentage

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser

has

obtained

an

exemptive

order

from

the

SEC

(the

“Order”),

upon

which

the

fund

may

rely,

to

use

a

manager

of

managers

approach

that

permits

the

Adviser,

subject

to

certain

conditions

and

approval

by

the

Board,

to

enter

into

and

materially

amend

sub-investment

advisory

agreements

with

one

or

more

sub-advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

the

fund

from

disclosing

the

sub-advisory

fee

paid

by

the

Adviser

to

a

Sub-Adviser

in

documents

filed

with

the

SEC

and

provided

to

shareholders.

In

addition,

pursuant

to

the

Order,

it

is

not

necessary

to

disclose

the

sub-advisory

fee

payable

by

the

Adviser

separately

to

a

Sub-Adviser

that

is

a

wholly-owned

subsidiary

(as

defined

in

the

1940

Act)

of

BNY

in

documents

filed

with

the

SEC

and

provided

to

shareholders;

such

fees

are

to

be

aggregated

with

fees

payable

to

the

Adviser.

The

Adviser

has

ultimate

responsibility

(subject

to

oversight

by

the

Board)

to

supervise

any

Sub-Adviser

and

recommend

the

hiring,

termination,

and

replacement

of

any

Sub-Adviser

to

the

Board.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

rate

of

0.06%

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser,

and

not

the

fund,

pays

the

Sub-Adviser

fee

rate.

(b)

The

fund

has

an

arrangement

with

The

Bank

of

New

York

Mellon

(the

“Custodian”),

a

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser, whereby

the

fund

will

receive

interest

income

or

be

charged

overdraft

fees

when

cash

balances

are

maintained.

For

financial

reporting

purposes,

the

fund

includes

this

interest

income

and

overdraft

fees,

if

any,

as

interest

income

in

the

Statement

of

Operations.

The

components

of

“Due

to

BNY

Mellon

ETF Investment

Adviser,

LLC”

in

the

Statement

of

Assets

and

Liabilities

consist

of:

management

fee

of $7,305.

(c)

Each

Board

member

serves

as

a

Board

member

of

each

fund

within

the

Trust.

The

Board

members

are

not

compensated

directly

by

the

fund.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Trust,

including

the

fund.

NOTE

4—Securities

Transactions:

The

aggregate

amount

of

purchases

and

sales

(including

paydowns)

of

investment

securities,

excluding

short-term

securities

and

in-kind

transactions,

during

the

period

ended

June

30,

2024, amounted

to $27,821,141

and

$11,531,328,

respectively.

At June

30,

2024,

the

cost

of

investments

for

federal

income

tax

purposes

was

$74,120,805;

accordingly,

accumulated

net

unrealized

depreciation on

investments

for

federal

income

tax

purposes

was

$105,167,

consisting

of

gross

appreciation

of

$57,994

and

gross

depreciation

of

$163,161.

NOTE

5—Shareholder

Transactions:

The

fund

issues

and

redeems

its

shares

on

a

continuous

basis,

at

NAV,

to

certain

institutional

investors

known

as

“Authorized

Participants”

(typically

market

makers

or

other

broker-dealers)

only

in

a

large

specified

number

of

shares

called

a

Creation

Unit.

Except

when

aggregated

in

Creation

Units,

shares

of

the

fund

are

not

redeemable.

The

value

of

the

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for the

fund

may

change.

Authorized

Participants

will

be

notified

of

such

change.

Creation

Unit

transactions

may

be

made

in-kind,

for

cash,

or

for

a

combination

of

securities

and

cash.

The

principal

consideration

for

creations

and

redemptions

for

the

fund

is

in-kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

the

fund

only:

in

Creation

Units

on

a

continuous

basis

through

the

Distributor,

without

a

sales

load,

at

their

NAV

per

share

determined

after

receipt

of

an

order,

on

any

Business

Day,

in

proper

form

pursuant

to

the

terms

of

the

Authorized

Participant

Agreement.

Transactions

in

capital

shares

for

the

fund

are

disclosed

in

detail

in

the

Statement

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of the

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

15

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

The

Adviser

or

its

affiliates

(the

“Selling

Shareholder”)

may

purchase

Creation

Units

through

a

broker-dealer

to

“seed”

(in

whole

or

in

part)

funds

as

they

are

launched

or

may

purchase shares

from

broker-dealers

or

other

investors

that

have

previously

provided

“seed”

for

funds

when

they

were

launched

or

otherwise

in

secondary

market

transactions.

Because

the

Selling

Shareholder

may

be

deemed

an

affiliate

of

such

funds,

the

fund shares

are

being

registered

to

permit

the

resale

of

these

shares

from

time

to

time

after

purchase.

The

fund

will

not

receive

any

of

the

proceeds

from

resale

by

the

Selling

Shareholders

of

these

fund

shares. An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Transaction

fees”

on

the

Statement

of

Changes

in

Net

Assets.

Seed

Capital:

As

of

June

30,

2024,

MBC

Investments

Corporation,

a

wholly-owned

subsidiary

of

BNY,

held

499,001

shares

of

the

fund.

In-kind

Redemptions:

For

financial

reporting

purposes,

in-kind

redemptions

are

treated

as

sales

of

securities

resulting

in

realized

capital

gains

or

losses

to

the

fund.

Because

such

gains

or

losses

are

not

taxable

to

the

fund

and

are

not

distributed

to

existing

fund

shareholders,

the

gains

or

losses

are

reclassified

from

accumulated

net

realized

gain

(loss)

to

paid-in

capital

at

the

end

of

the

fund’s

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

During

the

year

ended

June

30,

2024,

the

fund

had

no

in-kind

transactions.

16

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Shareholders

and

the

Board

of

Trustees

of

BNY

Mellon

Ultra

Short

Income

ETF

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statement

of

assets

and

liabilities

of

BNY

Mellon

Ultra

Short

Income

ETF

(the

“Fund”)

(one

of

the

funds

constituting

BNY

Mellon

ETF

Trust

(the

“Trust”)),

including

the

statement

of

investments,

as

of

June

30,

2024,

and

the

related

statement

of

operations

for

the

year

then

ended,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

then

ended,

the

financial

highlights

for

the

two

years

in

the

period

then

ended

and

the

period

from

August

11,

2021

(commencement

of

operations)

through

June

30,

2022

and

the

related

notes

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Fund

(one

of

the

funds

constituting

BNY

Mellon

ETF

Trust)

at

June

30,

2024,

the

results

of

its

operations

for

the

year

then

ended,

the

changes

in

its

net

assets

for

each

of

the

two

years

in

the

period

then

ended

and

its

financial

highlights

for

each

of

the

two

years

in

the

period

then

ended

and

the

period

from

August

11,

2021

(commencement

of

operations)

through

June

30,

2022,

in

conformity

with

U.S.

generally

accepted

accounting

principles.

Basis

for

Opinion

These

financial

statements

are

the

responsibility

of

the

Trust’s

management.

Our

responsibility

is

to

express

an

opinion

on

the

Fund’s

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(“PCAOB”)

and

are

required

to

be

independent

with

respect

to

the

Trust

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

The

Trust

is

not

required

to

have,

nor

were

we

engaged

to

perform,

an

audit

of

the

Trust’s

internal

control

over

financial

reporting.

As

part

of

our

audits,

we

are

required

to

obtain

an

understanding

of

internal

control

over

financial

reporting

but

not

for

the

purpose

of

expressing

an

opinion

on

the

effectiveness

of

the

Trust’s

internal

control

over

financial

reporting.

Accordingly,

we

express

no

such

opinion.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

June

30,

2024,

by

correspondence

with

the

custodian,

brokers

and

others;

when

replies

were

not

received

from

brokers

and

others,

we

performed

other

auditing

procedures.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

BNY

Mellon

Family

of

Funds

since

at

least

1957,

but

we

are

unable

to

determine

the

specific

year.

New

York,

New

York

August

19,

2024

17

IMPORTANT

TAX

INFORMATION

(Unaudited)

Form

1099-DIV,

Form

1042-S

and

other

year–end

tax

information

provide

shareholders

with

actual

calendar

year

amounts

that

should

be

included

in

their

tax

returns.

Shareholders

should

consult

their

tax

advisers.

The

following

distribution

information

is

being

provided

as

required

by

the

Internal

Revenue

Code

or

to

meet

a

specific

state’s

requirement.

The

fund

designates

the

following

amounts

or,

if

subsequently

determined

to

be

different,

the

maximum

amount

allowable

for

its

fiscal

year

ended June

30,

2024:

For

federal

tax

purposes

the

fund

hereby

reports

81.77%

of

ordinary

income

dividends

paid

during

the

fiscal

year

ended

June

30,

2024 as

qualifying

interest

related

dividends.

18

BOARD

MEMBERS

INFORMATION

(Unaudited)

INDEPENDENT

BOARD

MEMBERS

J.

Charles

Cardona

(68)

Chairman

of

the

Board

(2020)

Principal

Occupation

During

Past

5

Years:

•

BNY Mellon

Family of Funds, 

Interested

Director 

(2014

–

2018), 

Independent Director 

(2019 – Present)

•

BNY

Mellon

Liquidity

Funds,

Director

(2004

–

Present)

and

Chairman

(2019

–

2021)

.

No.

of

Portfolios

for

which

Board

Member

Serves:

35,

including

22

managed

by

an

affiliate

of

the

Adviser

Kristen

M.

Dickey

(64)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Independent

board

director

of

Marstone,

Inc.,

a

financial

technology

company

(since

2018);

Lead

non-executive

director

for

Aperture

Investors,

LLC,

an

investment

management

firm

(since

2018);

Managing

Director—Global

Head

of

Index

Strategy

at

BlackRock,

Inc.

(until

2017)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

F.

Jack

Liebau,

Jr.

(60)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Managing

Director

at

Beach

Investment

Counsel,

a

financial

advisory

firm

(since

2020)

Corporate

director

(since

2015)

Other

Public

Company

Board

Memberships

During

Past

5

Years:

Myers

Industries,

an

industrial

company,

Director

(2015

–

Present);

Chairman

of

Board

(2016

–

Present)

STRATTEC

Security

Corp.,

an

automotive

power

and

security

solutions

company,

Director

(2023

–

Present);

Chairman

of

Board

(2024

–

Present)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Jill

I.

Mavro

(52)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Managing

director

at

Ecoban,

LLC,

a

financial

technology

consulting

company

(since

2020)

Founder

and

Principal

of

Spoondrift

Advisory,

LLC

(since

2018);

Senior

Managing

Director,

Head

of

Strategic

Relationships

and

Member

of

SPDR

Executive

Committee

at

State

Street

Global

Advisors

(until

2018)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Kevin

W.

Quinn

(65)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Partner

at

PricewaterhouseCoopers,

LLC

(until

2019)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Stacy

L.

Schaus

(64)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Chief

Executive

Officer

of

the

Schaus

Group

LLC,

a

consulting

firm

(since

2019);

Advisory

board

member

of

A&P

Capital,

a

consulting

firm

(from

2019-2021);

Executive

Vice

President—Defined

Contribution

Practice

Founder

at

PIMCO

Investment

Management

(until

2018).

No.

of

Portfolios

for

which

Board

Member

Serves:

13

19

OFFICERS

OF

THE

TRUST

(Unaudited)

DAVID

DIPETRILLO,

President

since

February

2020.

Vice

President

and

Director

of

BNYM

Investment

Adviser

since

February

2021;

Head

of

North

America

Distribution,

BNY

Investments

since

February

2023;

and

Head

of

North

America

Product,

BNY

Investments

from

January

2018

to

February

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser. He

is

46

years

old

and

has

been

an

employee

of

BNY

since

2005. 

PETER

M.

SULLIVAN,

Chief

Legal

Officer

since

July

2021,

Vice

President

and

Assistant

Secretary

since

February

2020.

Chief

Legal

Officer

of

BNYM

Investment

Adviser

and

Associate

General

Counsel

of

BNY

since

July

2021;

Senior

Managing

Counsel

of

BNY

from

December

2020

to

July

2021;

and

Managing

Counsel

of

BNY

from

March

2009

to

December

2020.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

56

years

old

and

has

been

an

employee

of

BNY

since

April

2004.

JAMES

WINDELS,

Treasurer

since

February

2020.

Director

of

BNYM

Investment

Adviser

since

February

2023;

Vice

President

of

BNYM

Investment

Adviser

since

September

2020;

and

Director

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

65

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

April

1985.

SARAH

S.

KELLEHER,

Vice

President

and

Secretary

since

February

2020.

Vice

President

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

since

February

2020;

Senior

Managing

Counsel

of

BNY

since

September

2021;

and

Managing

Counsel

of

BNY

from

December

2017

to

September

2021. She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. She

is

48

years

old

and

has

been

an

employee

of

BNY

since

March

2013.

DEIRDRE

CUNNANE,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

since

December

2021;

and

Counsel

of

BNY

from

August

2018

to

December

2021;

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

34

years

old

and

has

been

an

employee

of

BNY

since

August

2013.

LISA

M.

KING,

Vice

President

and

Assistant

Secretary

since

May

2024.

Counsel

of

BNY

since

June

2023;

and

Regulatory

Administration

Group

Manager

at

BNY

Mellon

Asset

Servicing

from

February

2016

to

June

2023.

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser.

She

is

56

years

old

and

has

been

an

employee

of

BNY

since

February

2016.

JEFF

PRUSNOFSKY,

Vice

President

and

Assistant

Secretary

since

February

2020.

Senior

Managing

Counsel

of

BNY.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

59

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

October

1990.

AMANDA

QUINN,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

since

March

2024;

Counsel

of

BNY

from

June

2019

to

February

2024;

and

Regulatory

Administration

Manager

at

BNY

Investments

Services from

September

2018

to

May

2019.

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

39

years

old

and

has

been

an

employee

of

BNY

since

June

2012.

JOANNE

SKERRETT,

Vice

President

and

Assistant

Secretary

since

March

2023.

Managing

Counsel

of

BNY

since

June

2022;

and

Senior

Counsel

with

the

Mutual

Fund

Directors

Forum,

a

leading

funds

industry

organization,

from

2016

to

June

2022. She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

52

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

June

2022.

DANIEL

GOLDSTEIN,

Vice

President

since

March

2022

Head

of

Product

Development

of

North

America

Distribution,

BNY

Investments

since

January

2018;

Executive

Vice

President

of

North

America

Product,

BNY

Investments

since

April

2023;

and

Senior

Vice

President,

Development

&

Oversight

of

North

America

Product,

BNY

Investments

from

2010

to

March

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

55

years

old

and

has

been

an

employee

of

the

Distributor

since

1991.

JOSEPH

MARTELLA,

Vice

President

since

March

2022

Vice

President

of

BNYM

Investment

Adviser

since

December

2022;

Head

of

Product

Management

of

North

America

Distribution,

BNY

Investments

since

January

2018;

Executive

Vice

President

of

North

America

Product,

BNY

Investments

since

April

2023,

and

Senior

Vice

President

of

North

America

Product,

BNY

Investments

from

2010

to

March

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

47

years

old

and

has

been

an

employee

of

the

Distributor

since

1999.

ROBERTO

G.

MAZZEO,

Assistant

Treasurer

since

May

2024.

Financial

Reporting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser. He

is

43

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

October

2006.

GAVIN

C.

REILLY,

Assistant

Treasurer

since

February

2020.

Tax

Manager-BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. 

He

is

55

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

April

1991.

ROBERT

SALVIOLO,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

57

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

June

1989.

20

OFFICERS

OF

THE

TRUST

(Unaudited)

(continued)

ROBERT

SVAGNA,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

57

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

November

1990.

JOHN

SQUILLACE,

Chief

Compliance

Officer

since

May

2024.

Chief

Compliance

Officer

since

May

2024

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

and

BNY

Mellon

ETF

Trust;

Chief

Compliance

Officer

of

BNY

Mellon

Securities

Corporation’s

investment

advisory

business

since

January

2016;

and

Chief

Compliance

Officer

of

BNYMIA

since

July

2012.

He

is

an

officer

of

1

investment

company

(comprised

of

13

portfolios)

managed

by

BNY

Mellon

ETF

Investment

Adviser.

He

is

65

years

old

and

has

been

an

employee

of

BNY

Mellon

since

December

2010.

CARIDAD

M.

CAROSELLA,

Anti-Money

Laundering

Compliance

Officer

since

February

2020.

Anti-Money

Laundering

Compliance

Officer

of

the

BNY

Mellon

Family

of

Funds

and

BNY

Mellon

Funds

Trust.

She

is

an

officer

of

45

investment

companies

(comprised

of

107

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

55

years

old

and

has

been

an

employee

of

the

Distributor

since

1997.

21

Item

8.

Changes

in

and

Disagreements

with

Accountants

for

Open-End

Management

Investment

Companies

(Unaudited)

N/A

22

Item

9.

Proxy

Disclosures

for

Open-End

Management

Investment

Companies

(Unaudited)

N/A

23

Item

10.

Remuneration

Paid

to

Directors,

Officers,

and

Others

of

Open-End

Investment

Companies

(Unaudited)

Each

member

of

the

Board

serves

as

a

Board

member

of

each

fund

within

the

Registrant.

The

Board

members

are

not

compensated

directly

by

the

Registrant.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Registrant.

24

Item

11.

Statement

Regarding

Basis

for

Approval

of

Investment

Advisory

Contracts

(Unaudited)

At

a

meeting

held

on

February

23,

2024

(the

“February

Meeting”)

and

a

meeting

held

on

May

7,

2024

(the

“May

Meeting,”

and

together

with

the

February

Meeting,

the

“Meetings”),

the

Board

of

Trustees

of

the

Trust

(the

“Board”),

all

the

members

of

which

are

not

“interested

persons”

of

the

Trust

as

defined

in

the

Investment

Company

Act

of

1940,

as

amended,

evaluated

(i)

proposals

to

continue

the

Management

Agreement

between

the

Trust

and

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”)

with

respect

to

the

BNY

Mellon

Ultra

Short

Income

ETF

(the

“fund”);

and

(ii)

proposals

to

continue

the

Sub-Investment

Advisory

Agreement

between

the

Adviser

and

Mellon

Investments

Corporation

(the

“Sub-Adviser”),

an

affiliate

of

the

Adviser,

pursuant

to

which

Dreyfus,

a

division

of

the

Sub-Adviser,

provides

day-to-day

management

of

the

fund’s

investments

(each

of

the

Management

Agreement

and

the

Sub-Investment

Advisory

Agreement,

an

“Agreement,”

and

together,

the

“Agreements”).

At

each

Meeting,

the

Trustees

also

met

separately

to

consider

the

Agreements

and

were

advised

by

legal

counsel

throughout

the

process.

In

connection

with

each

Meeting,

to

evaluate

the

Agreements,

the

Board

requested,

and

the

Adviser

and

the

Sub-Adviser

provided,

such

materials

as

the

Board,

with

the

advice

of

counsel,

deemed

reasonably

necessary.

In

addition,

the

Board

considered

information

it

reviewed

at

other

Board

and

Board

committee

meetings.

In

deciding

whether

to

approve

the

Agreements,

the

Board

considered

various

factors,

including

the

(i)

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

Sub-Adviser

under

each

respective

Agreement,

(ii)

investment

performance

of

the

fund,

(iii)

profits

realized

by

the

Adviser

and

its

affiliates

from

its

relationship

with

the

fund,

(iv)

fees

charged

to

comparable

funds,

(v)

other

benefits

to

the

Adviser,

Sub-Adviser

and/or

their

affiliates,

and

(vi)

extent

to

which

economies

of

scale

would

be

shared

as

the

fund

grows.

The

Board

considered

the

Agreements

for

the

fund

and

the

engagement

of

the

Adviser

and

the

Sub-Adviser

separately.

The

Board

reviewed

reports

prepared

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data,

which

included

information

(i)

comparing

the

fund’s

performance

with

the

performance

of

a

group

of

other

actively-

managed

ultrashort

bond

exchange

traded

funds

(“ETFs”)

(the

“Performance

Group”)

and

with

a

broader

group

of

retail

and

institutional

ultrashort

bond

funds

and

ETFs

(the

“Performance

Universe”)

for

the

periods

ended

December

31,

2023;

and

(ii)

comparing

the

fund’s

contractual

management

fees

and

total

expenses

with

a

group

of

other

actively-managed

ultrashort

bond

ETFs

(the

“Expense

Group”)

and,

with

respect

to

total

expenses,

with

a

broader

group

of

actively-managed

ultrashort

bond

ETFs

(the

“Expense

Universe”),

the

information

for

which

was

derived

in

part

from

fund

financial

statements

available

to

Broadridge

as

of

the

date

of

its

analysis.

In

addition,

at

the

May

Meeting,

the

Board

also

reviewed

reports

that

included

information

comparing

the

fund’s

performance

with

the

performance

of

its

Performance

Universe

for

the

periods

ended

March

31,

2024.

Nature,

Extent

and

Quality

of

Services

The

Board

considered

the

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

the

Sub-Adviser.

In

doing

so,

the

Trustees

relied

on

their

prior

experience

in

overseeing

the

management

of

the

fund

and

the

materials

provided

prior

to

and

at

each

Meeting.

The

Board

reviewed

the

Agreements

and

the

Adviser’s

and

the

Sub-Adviser’s

responsibilities

for

managing

investment

operations

of

the

fund

in

accordance

with

the

fund’s

investment

objective

and

policies,

and

applicable

legal

and

regulatory

requirements.

The

Board

appreciated

the

nature

of

the

fund

as

an

exchange-traded

fund

and

considered

the

background

and

experience

of

the

Adviser’s

and

the

Sub-Adviser’s

senior

management,

including

those

individuals

responsible

for

portfolio

management

and

regulatory

compliance

of

the

funds.

The

Board

also

considered

the

portfolio

management

resources,

structures

and

practices

of

the

Adviser

and

the

Sub-Adviser,

including

those

associated

with

monitoring

and

ensuring

the

fund’s

compliance

with

its

investment

objective

and

policies

and

with

applicable

laws

and

regulations.

The

Board

further

considered

information

about

the

Sub-Adviser’s

best

execution

procedures

as

well

as

the

Adviser’s

and

the

Sub-Adviser’s

overall

investment

management

business.

The

Board

looked

at

the

Adviser’s

general

knowledge

of

the

investment

management

business

and

that

of

its

affiliates,

including

the

Sub-Adviser.

With

respect

to

the

Sub-Adviser,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

services

provided

by

the

Sub-Adviser.

Investment

Performance

The

Board

reviewed

the

results

of

the

fund’s

performance

comparisons

and

considered

that

the

fund’s

total

return

performance

was

above

the

Performance

Group

median

for

the

one-year

period

ended

December

31,

2023,

below

the

Performance

Group

median

for

the

two-year

period

ended

December

31,

2023,

and

below

the

Performance

Universe

median

for

the

one-year

and

two-year

periods

ended

December

31,

2023.

At

the

May

Meeting,

the

Board

also

considered

that

the

fund’s

total

return

performance

was

below

the

Performance

Universe

average

for

the

one-year

period

and

since

inception

(August

9,

2021)

period

ended

March

31,

2024.

With

respect

to

each

period

of

underperformance,

the

Board

noted

the

fund’s

performance

was

not

significantly

below

the

respective

median

or

average.

Representatives

of

the

Adviser

indicated

that

the

usefulness

of

performance

comparisons

may

be

affected

by

a

number

of

factors,

including

different

investment

limitations

and

policies

that

may

be

applicable

to

the

fund

and

comparison

funds

and

the

end

date

selected.

Profits

Realized

by

the

Adviser

The

Board

considered

the

profitability

of

the

advisory

arrangement

with

the

fund

to

the

Adviser

and

its

affiliates.

The

Board

had

the

opportunity

to

discuss

with

representatives

of

the

Adviser

the

process

and

methodology

used

to

calculate

profitability.

25

Fees

Charged

to

Comparable

Funds

The

Board

evaluated

the

fund’s

unitary

fee

through

review

of

comparative

information

with

respect

to

fees

paid

by

similar

funds

-

i.e.,

other

actively-managed

ultrashort

bond

ETFs.

The

Board

explored

with

management

the

differences

between

the

fund’s

fee

and

fees

paid

by

similar

funds.

The

Board

noted

the

fund’s

contractual

management

fee

was

below

the

Expense

Group

median

and

the

fund’s

total

expenses

were

below

the

Expense

Group

median

and

the

Expense

Universe

median

total

expenses.

The

Board

considered

the

fee

paid

to

the

Sub-Adviser

in

relation

to

the

fee

paid

to

the

Adviser

by

the

fund

and

the

respective

services

provided

by

the

Sub-Adviser

and

the

Adviser.

The

Board

also

took

into

consideration

that

the

Sub-Adviser’s

fee

is

paid

by

the

Adviser

and

not

the

fund.

Other

Benefits

The

Board

also

considered

whether

the

Adviser,

the

Sub-Adviser

or

their

affiliates

benefited

in

other

ways

from

their

relationship

with

the

funds,

noting

that

neither

the

Adviser

nor

the

Sub-Adviser

maintains

soft-dollar

arrangements

in

connection

with

the

fund’s

brokerage

transactions.

The

Board

noted

The

Bank

of

New

York

Mellon

Corporation

may

derive

certain

benefits

from

an

incremental

growth

in

its

businesses

that

may

possibly

result

from

the

availability

of

the

fund

to

clients.

Economies

of

Scale

The

Board

reviewed

information

regarding

economies

of

scale

or

other

efficiencies

that

may

result

as

the

fund’s

assets

grow

in

size.

The

Board

noted

that

the

advisory

fee

rate

for

the

fund

did

not

provide

for

breakpoints

as

assets

of

the

fund

increases.

The

Adviser

asserted

that

one

of

the

benefits

of

the

unitary

fee

was

to

provide

an

unvarying

expense

structure,

which

could

be

lost

or

diluted

with

the

addition

of

breakpoints.

The

Board

noted

that

it

intends

to

continue

to

monitor

fees

as

the

fund

grows

in

size

and

assess

whether

fee

breakpoints

may

be

warranted.

Conclusion

After

weighing

the

foregoing

factors,

none

of

which

was

dispositive

in

itself

and

may

have

been

weighed

differently

by

each

Trustee,

the

Board

approved

the

continuation

of

the

Agreements

for

the

fund

at

each

Meeting.

In

approving

the

continuance

of

the

Agreements,

the

Board

found

that

the

terms

of

the

Agreements

are

fair

and

reasonable

and

that

the

continuance

of

the

Agreements

is

in

the

best

interests

of

the

fund

and

its

shareholders.

©

2024

BNY

Mellon

Securities

Corporation

Code-4862NCSRAR0624

BNY

Mellon

ETF

Trust

ANNUAL

FINANCIALS

AND

OTHER

INFORMATION

June

30,

2024

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF:

RHCB

Principal

U.S.

Listing

Exchange:

NYSE

Arca,

Inc.

IMPORTANT

NOTICE

–

CHANGES

TO

ANNUAL

AND

SEMI-ANNUAL

REPORTS 

The

Securities

and

Exchange

Commission

(the

“SEC”)

has

adopted

rule

and

form

amendments

which

have

resulted

in

changes

to

the

design

and

delivery

of

annual

and

semi-annual

fund

reports

(“Reports”).

Reports

are

now

streamlined

to

highlight

key

information.

Certain

information

previously

included

in

Reports,

including

financial

statements,

no

longer

appear

in

the

Reports

but

will

be

available

online

within

the

Semi-Annual

and

Annual

Financials

and

Other

Information,

delivered

free

of

charge

to

shareholders

upon

request,

and

filed

with

the

SEC.

Contents

The

Fund

Please

note

the

Annual

Financials

and

Other

Information

only

contains

Items

7-11

required

in

Form

N-CSR.

All

other

required

items

will

be

filed

with

the

SEC.

Item

7.

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

3

Statement

of

Investments

3

Statement

of

Assets

and

Liabilities

12

Statement

of

Operations

13

Statement

of

Changes

in

Net

Assets

14

Financial

Highlights

15

Notes

to

Financial

Statements

16

Report

of

Independent

Registered

Public

Accounting

Firm

24

Important

Tax

Information

25

Board

Members

Information

26

Officers

of

the

Trust

27

Item

8.

Changes

in

and

Disagreements

with

Accountants

for

Open-End

Management

Investment

Companies

29

Item

9.

Proxy

Disclosures

for

Open-End

Management

Investment

Companies

30

Item

10.

Remuneration

Paid

to

Directors,

Officers,

and

Others

of

Open-End

Investment

Companies

31

Item

11.

Statement

Regarding

Basis

for

Approval

of

Investment

Advisory

Contracts

32

Save

time.

Save

paper.

View

your

next

shareholder

report

online

as

soon

as

it’s

available.

Log

into

www.

im.bnymellon.com

and

sign

up

for

eCommunications.

It’s

simple

and

only

takes

a

few

minutes.

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

fund’s

portfolio

is

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

3

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF

Statement

of

Investments

June

30,

2024

Item

7.

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

Airlines

–

0.3%

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.

,

4.75%

,

10/20/2028

(b)

80,000

77,944

77,944

Auto

Manufacturers

–

3.1%

Ford

Motor

Co.

3.25%,

2/12/2032

75,000

62,021

6.10%,

8/19/2032

110,000

109,918

General

Motors

Co.

,

5.95%

,

4/01/2049

79,000

76,728

General

Motors

Financial

Co.,

Inc.

,

6.10%

,

1/07/2034

142,000

143,600

Mercedes-Benz

Finance

North

America

LLC

,

1.45%

,

3/02/2026

(b)

150,000

141,023

Stellantis

Finance

U.S.,

Inc.

,

2.69%

,

9/15/2031

(b)

200,000

165,403

698,693

Banks

–

23.3%

Bank

of

America

Corp.

3.82%,

1/20/2028

165,000

159,072

5.20%,

4/25/2029

113,000

112,849

3.19%,

7/23/2030

200,000

181,662

2.57%,

10/20/2032

134,000

111,114

5.29%,

4/25/2034

65,000

64,356

Bank

of

Nova

Scotia

(The)

,

4.85%

,

2/01/2030

108,000

106,312

Canadian

Imperial

Bank

of

Commerce

,

5.00%

,

4/28/2028

100,000

99,312

Citigroup,

Inc.

3.11%,

4/08/2026

125,000

122,488

3.98%,

3/20/2030

195,000

184,125

6.17%,

5/25/2034

54,000

54,946

5.45%,

6/11/2035

55,000

54,590

Citizens

Financial

Group,

Inc.

,

5.64%

,

5/21/2037

80,000

74,272

Cooperatieve

Rabobank

UA

,

1.00%

,

9/24/2026

(b)

250,000

236,449

Credit

Agricole

SA

,

6.32%

,

10/03/2029

(b)

250,000

256,864

Goldman

Sachs

Group,

Inc.

(The)

1.09%,

12/09/2026

150,000

140,270

2.64%,

2/24/2028

60,000

55,974

4.41%,

4/23/2039

220,000

194,663

HSBC

Holdings

PLC

,

6.33%

,

3/09/2044

200,000

209,356

Industrial

Bank

of

Korea

,

5.38%

,

10/04/2028

(b)

200,000

203,826

ING

Groep

NV

,

5.55%

,

3/19/2035

200,000

197,548

JPMorgan

Chase

&

Co.

5.01%,

1/23/2030

150,000

148,880

5.77%,

4/22/2035

112,000

114,956

3.88%,

7/24/2038

170,000

145,833

Morgan

Stanley

4.68%,

7/17/2026

130,000

128,754

1.93%,

4/28/2032

250,000

200,955

5.95%,

1/19/2038

38,000

37,800

5.94%,

2/07/2039

80,000

79,160

PNC

Financial

Services

Group,

Inc.

(The)

4.76%,

1/26/2027

115,000

113,635

5.49%,

5/14/2030

125,000

125,724

4.63%,

6/06/2033

95,000

87,990

Royal

Bank

of

Canada

,

7.50%

,

5/02/2084

200,000

206,763

Societe

Generale

SA

,

6.07%

,

1/19/2035

(b)

200,000

198,138

State

Street

Corp.

,

Series

I

,

6.70%

(c)

63,000

63,533

Toronto-Dominion

Bank

(The)

5.26%,

12/11/2026

20,000

19,999

7.25%,

7/31/2084

200,000

200,000

4

Statement

of

Investments

(continued)

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Banks

–

23.3%

(continued)

Truist

Financial

Corp.

6.05%,

6/08/2027

14,000

14,104

7.16%,

10/30/2029

66,000

70,100

5.87%,

6/08/2034

10,000

10,081

5.71%,

1/24/2035

19,000

18,926

UBS

Group

AG

,

6.30%

,

9/22/2034

(b)

200,000

208,086

US

Bancorp

6.79%,

10/26/2027

102,000

105,048

5.78%,

6/12/2029

86,000

87,325

5.68%,

1/23/2035

46,000

46,194

Westpac

Banking

Corp.

,

2.67%

,

11/15/2035

50,000

41,342

5,293,374

Beverages

–

2.1%

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

,

4.90%

,

2/01/2046

(d)

100,000

92,255

Anheuser-Busch

InBev

Worldwide,

Inc.

4.60%,

4/15/2048

15,000

13,280

5.55%,

1/23/2049

50,000

50,412

Coca-Cola

Co.

(The)

,

3.50%

,

5/14/2044

EUR

100,000

103,427

Diageo

Capital

PLC

,

5.63%

,

10/05/2033

200,000

207,719

467,093

Biotechnology

–

1.5%

Amgen,

Inc.

1.65%,

8/15/2028

75,000

65,634

5.25%,

3/02/2030

33,000

33,252

5.60%,

3/02/2043

33,000

32,544

4.66%,

6/15/2051

100,000

85,528

4.88%,

3/01/2053

22,000

19,388

5.65%,

3/02/2053

31,000

30,552

Gilead

Sciences,

Inc.

,

5.55%

,

10/15/2053

23,000

22,981

Illumina,

Inc.

,

5.75%

,

12/13/2027

61,000

61,584

351,463

Building

Materials

–

1.7%

Builders

FirstSource

,

Inc.

6.38%,

6/15/2032

(b)

18,000

18,045

6.38%,

3/01/2034

(b)

26,000

25,773

Carrier

Global

Corp.

2.72%,

2/15/2030

150,000

132,569

5.90%,

3/15/2034

10,000

10,442

Johnson

Controls

International

PLC

/

Tyco

Fire

&

Security

Finance

SCA

,

4.90%

,

12/01/2032

94,000

91,725

Trane

Technologies

Financing

Ltd.

5.25%,

3/03/2033

100,000

100,783

5.10%,

6/13/2034

14,000

13,958

393,295

Chemicals

–

2.7%

Braskem

Netherlands

Finance

BV

,

4.50%

,

1/31/2030

(b)

200,000

169,254

Dow

Chemical

Co.

(The)

,

6.30%

,

3/15/2033

(d)

33,000

34,841

LYB

International

Finance

III

LLC

,

5.50%

,

3/01/2034

200,000

197,969

Nutrien

Ltd.

4.00%,

12/15/2026

200,000

193,597

4.90%,

3/27/2028

12,000

11,864

607,525

5

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Commercial

Services

–

2.3%

Ashtead

Capital,

Inc.

,

4.25%

,

11/01/2029

(b)

200,000

187,678

ERAC

USA

Finance

LLC

3.80%,

11/01/2025

(b)

125,000

122,295

4.90%,

5/01/2033

(b)

77,000

74,972

Herc

Holdings,

Inc.

,

6.63%

,

6/15/2029

(b)

45,000

45,664

United

Rentals

North

America,

Inc.

,

5.25%

,

1/15/2030

50,000

48,495

Williams

Scotsman,

Inc.

,

6.63%

,

6/15/2029

(b)

34,000

34,299

513,403

Computers

–

2.1%

Dell

International

LLC

/

EMC

Corp.

3.38%,

12/15/2041

80,000

58,562

3.45%,

12/15/2051

26,000

17,634

IBM

International

Capital

Pte

Ltd.

4.75%,

2/05/2031

200,000

196,032

5.25%,

2/05/2044

200,000

189,732

Kyndryl

Holdings,

Inc.

,

4.10%

,

10/15/2041

27,000

20,476

482,436

Diversified

Financial

Services

–

3.2%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

,

3.85%

,

10/29/2041

150,000

117,415

Air

Lease

Corp.

,

2.10%

,

9/01/2028

135,000

118,613

Ally

Financial,

Inc.

,

8.00%

,

11/01/2031

42,000

46,377

Capital

One

Financial

Corp.

,

2.36%

,

7/29/2032

79,000

61,750

Discover

Financial

Services

,

6.70%

,

11/29/2032

(d)

61,000

63,684

Intercontinental

Exchange,

Inc.

4.60%,

3/15/2033

80,000

76,480

4.95%,

6/15/2052

(d)

24,000

21,811

LSEGA

Financing

PLC

,

1.38%

,

4/06/2026

(b)

200,000

186,633

NASDAQ,

Inc.

,

5.95%

,

8/15/2053

27,000

27,310

720,073

Electric

–

8.3%

Avangrid

,

Inc.

,

3.20%

,

4/15/2025

130,000

127,314

Commonwealth

Edison

Co.

,

5.65%

,

6/01/2054

175,000

174,130

Consolidated

Edison

Co.

of

New

York,

Inc.

Series

05-A,

5.30%,

3/01/2035

135,000

134,101

Series

A,

4.13%,

5/15/2049

100,000

79,152

Constellation

Energy

Generation

LLC

6.50%,

10/01/2053

70,000

74,372

5.75%,

3/15/2054

17,000

16,490

Electricite

de

France

SA

,

9.13%

(b)(c)

200,000

218,020

ENEL

Finance

America

LLC

,

7.10%

,

10/14/2027

(b)

200,000

210,128

ENEL

Finance

International

NV

,

5.00%

,

6/15/2032

(b)

200,000

190,136

Eversource

Energy

Series

R,

1.65%,

8/15/2030

110,000

88,765

5.50%,

1/01/2034

26,000

25,522

Exelon

Corp.

,

4.05%

,

4/15/2030

120,000

112,675

New

England

Power

Co.

,

5.94%

,

11/25/2052

(b)

71,000

71,675

New

York

State

Electric

&

Gas

Corp.

,

5.85%

,

8/15/2033

(b)

95,000

96,595

Public

Service

Electric

&

Gas

Co.

4.65%,

3/15/2033

80,000

77,179

5.13%,

3/15/2053

44,000

41,774

5.45%,

8/01/2053

125,000

123,613

Public

Service

Enterprise

Group,

Inc.

,

6.13%

,

10/15/2033

32,000

33,279

1,894,920

6

Statement

of

Investments

(continued)

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Entertainment

–

0.6%

WarnerMedia

Holdings,

Inc.

4.05%,

3/15/2029

100,000

92,373

5.39%,

3/15/2062

50,000

39,053

131,426

Environmental

Control

–

0.2%

GFL

Environmental,

Inc.

,

6.75%

,

1/15/2031

(b)

35,000

35,750

35,750

Food

–

2.7%

Bimbo

Bakeries

USA,

Inc.

,

5.38%

,

1/09/2036

(b)

200,000

195,040

General

Mills,

Inc.

,

4.95%

,

3/29/2033

134,000

130,589

J.M.

Smucker

Co.

(The)

5.90%,

11/15/2028

30,000

30,911

4.25%,

3/15/2035

50,000

44,835

6.50%,

11/15/2043

18,000

18,960

6.50%,

11/15/2053

17,000

18,286

Kraft

Heinz

Foods

Co.

5.20%,

7/15/2045

(d)

55,000

50,480

5.50%,

6/01/2050

56,000

53,629

SYSCO

Corp.

,

4.50%

,

4/01/2046

65,000

55,024

US

Foods,

Inc.

,

6.88%

,

9/15/2028

(b)

24,000

24,568

622,322

Forest

Products

&

Paper

–

0.2%

Suzano

Austria

GmbH

,

3.75%

,

1/15/2031

59,000

51,443

51,443

Gas

–

0.9%

Atmos

Energy

Corp.

,

5.50%

,

6/15/2041

55,000

54,802

Boston

Gas

Co.

,

6.12%

,

7/20/2053

(b)

150,000

148,880

203,682

Healthcare-Products

–

1.4%

Alcon

Finance

Corp.

,

5.38%

,

12/06/2032

(b)

200,000

200,501

Thermo

Fisher

Scientific,

Inc.

,

1.50%

,

10/01/2039

EUR

100,000

78,675

Zimmer

Biomet

Holdings,

Inc.

,

5.35%

,

12/01/2028

28,000

28,177

307,353

Healthcare-Services

–

1.6%

HCA,

Inc.

5.25%,

6/15/2026

150,000

149,411

5.45%,

4/01/2031

40,000

39,982

4.63%,

3/15/2052

55,000

44,432

UnitedHealth

Group,

Inc.

3.05%,

5/15/2041

50,000

36,927

5.88%,

2/15/2053

25,000

25,982

4.95%,

5/15/2062

29,000

25,827

6.05%,

2/15/2063

42,000

44,234

366,795

Home

Builders

–

0.1%

KB

Home

,

4.00%

,

6/15/2031

28,000

24,768

24,768

7

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Insurance

–

4.1%

Allianz

SE

,

6.35%

,

9/06/2053

(b)

200,000

206,350

Allstate

Corp.

(The)

,

3.85%

,

8/10/2049

(d)

50,000

37,782

Corebridge

Financial,

Inc.

,

5.75%

,

1/15/2034

34,000

34,246

Corebridge

Global

Funding

,

5.20%

,

1/12/2029

(b)

115,000

114,513

Liberty

Mutual

Group,

Inc.

,

4.30%

,

2/01/2061

(b)

54,000

33,665

Lincoln

National

Corp.

,

5.85%

,

3/15/2034

52,000

51,964

Marsh

&

McLennan

Cos.,

Inc.

,

5.45%

,

3/15/2053

85,000

82,821

MetLife,

Inc.

6.40%,

12/15/2036

100,000

101,364

5.00%,

7/15/2052

8,000

7,296

Metropolitan

Life

Global

Funding

I

,

1.55%

,

1/07/2031

(b)

150,000

119,628

Prudential

Financial,

Inc.

,

3.70%

,

3/13/2051

85,000

61,705

XL

Group

Ltd.

,

5.25%

,

12/15/2043

75,000

69,435

920,769

Leisure

Time

–

0.1%

Royal

Caribbean

Cruises

Ltd.

,

6.25%

,

3/15/2032

(b)

28,000

28,253

28,253

Lodging

–

0.5%

Marriott

International,

Inc.

5.00%,

10/15/2027

38,000

37,913

Series

HH,

2.85%,

4/15/2031

90,000

77,112

115,025

Machinery-Diversified

–

0.3%

AGCO

Corp.

,

5.80%

,

3/21/2034

78,000

77,738

77,738

Media

–

1.7%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

Corp.

6.48%,

10/23/2045

60,000

54,857

5.25%,

4/01/2053

74,000

58,113

4.40%,

12/01/2061

50,000

32,651

Comcast

Corp.

,

2.94%

,

11/01/2056

150,000

90,559

Fox

Corp.

,

5.58%

,

1/25/2049

56,000

51,462

Paramount

Global

,

6.38%

,

3/30/2062

40,000

35,363

Walt

Disney

Co.

(The)

,

3.50%

,

5/13/2040

68,000

54,286

377,291

Mining

–

0.1%

Newmont

Corp.

/

Newcrest

Finance

Pty

Ltd.

,

5.35%

,

3/15/2034

(b)

32,000

31,963

31,963

Miscellaneous

Manufacturing

–

0.2%

Hillenbrand,

Inc.

,

6.25%

,

2/15/2029

38,000

38,230

38,230

Oil

&

Gas

–

3.9%

AKER

BP

ASA

5.60%,

6/13/2028

(b)

300,000

302,785

3.10%,

7/15/2031

(b)

200,000

170,388

BP

Capital

Markets

America,

Inc.

,

3.00%

,

2/24/2050

65,000

42,336

ENI

SpA

,

5.95%

,

5/15/2054

(b)

200,000

196,571

Parkland

Corp.

,

4.50%

,

10/01/2029

(b)

50,000

45,807

TotalEnergies

Capital

International

SA

,

3.13%

,

5/29/2050

90,000

60,731

TotalEnergies

Capital

SA

3.88%,

10/11/2028

60,000

57,612

5.49%,

4/05/2054

21,000

20,724

896,954

8

Statement

of

Investments

(continued)

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Oil

&

Gas

Services

–

1.1%

Schlumberger

Holdings

Corp.

4.30%,

5/01/2029

(b)

200,000

193,211

5.00%,

11/15/2029

(b)

49,000

48,649

241,860

Packaging

&

Containers

–

2.0%

Ball

Corp.

,

6.00%

,

6/15/2029

27,000

27,179

Berry

Global,

Inc.

,

5.50%

,

4/15/2028

200,000

199,678

Sealed

Air

Corp.

,

6.50%

,

7/15/2032

(b)

33,000

32,842

Smurfit

Kappa

Treasury

ULC

,

5.44%

,

4/03/2034

(b)

200,000

198,368

458,067

Pharmaceuticals

–

6.0%

AbbVie,

Inc.

4.95%,

3/15/2031

15,000

14,966

4.05%,

11/21/2039

100,000

86,907

AstraZeneca

Finance

LLC

,

2.25%

,

5/28/2031

150,000

126,708

Bristol-Myers

Squibb

Co.

5.10%,

2/22/2031

70,000

70,288

4.25%,

10/26/2049

35,000

28,511

6.25%,

11/15/2053

22,000

23,645

5.55%,

2/22/2054

7,000

6,906

6.40%,

11/15/2063

14,000

15,212

Cigna

Group

(The)

,

5.60%

,

2/15/2054

26,000

24,980

Eli

Lilly

&

Co.

,

4.70%

,

2/27/2033

45,000

44,245

Pfizer

Investment

Enterprises

Pte

Ltd.

5.11%,

5/19/2043

57,000

54,227

5.30%,

5/19/2053

86,000

83,009

5.34%,

5/19/2063

87,000

82,185

Pfizer,

Inc.

,

2.63%

,

4/01/2030

120,000

106,493

Takeda

Pharmaceutical

Co.

Ltd.

5.00%,

11/26/2028

200,000

198,569

5.30%,

7/05/2034

400,000

397,578

1,364,429

Pipelines

–

1.3%

Enbridge,

Inc.

6.20%,

11/15/2030

26,000

27,309

5.50%,

7/15/2077

60,000

56,631

Galaxy

Pipeline

Assets

Bidco

Ltd.

,

2.16%

,

3/31/2034

(b)

162,080

139,156

Williams

Cos.,

Inc.

(The)

,

5.75%

,

6/24/2044

80,000

78,414

301,510

Real

Estate

–

5.3%

Agree

LP

2.90%,

10/01/2030

150,000

129,395

5.63%,

6/15/2034

10,000

9,902

Alexandria

Real

Estate

Equities,

Inc.

,

1.88%

,

2/01/2033

167,000

125,707

American

Homes

4

Rent

LP

5.50%,

2/01/2034

175,000

172,154

4.30%,

4/15/2052

34,000

26,398

9

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Real

Estate

–

5.3%

(continued)

Boston

Properties

LP

,

2.75%

,

10/01/2026

100,000

93,349

Crown

Castle,

Inc.

,

3.80%

,

2/15/2028

100,000

94,784

Equinix

,

Inc.

,

1.00%

,

9/15/2025

100,000

94,700

Iron

Mountain

Information

Management

Services,

Inc.

,

5.00%

,

7/15/2032

(b)

50,000

45,714

Kite

Realty

Group

LP

,

5.50%

,

3/01/2034

10,000

9,784

Kite

Realty

Group

Trust

,

4.00%

,

3/15/2025

50,000

49,260

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer

,

7.00%

,

2/01/2030

(b)

28,000

28,357

Phillips

Edison

Grocery

Center

Operating

Partnership

I

LP

,

5.75%

,

7/15/2034

12,000

11,858

ProLogis

Euro

Finance

LLC

,

1.50%

,

9/10/2049

EUR

100,000

61,349

Regency

Centers

LP

,

5.25%

,

1/15/2034

36,000

35,078

Rexford

Industrial

Realty

LP

,

5.00%

,

6/15/2028

126,000

124,676

Ventas

Realty

LP

,

5.63%

,

7/01/2034

84,000

83,304

1,195,769

Retail

–

2.6%

7-Eleven,

Inc.

,

2.50%

,

2/10/2041

(b)

100,000

65,376

AutoZone,

Inc.

,

4.50%

,

2/01/2028

98,000

95,870

Home

Depot,

Inc.

(The)

5.30%,

6/25/2054

24,000

23,450

3.50%,

9/15/2056

150,000

106,444

Lowe's

Cos.,

Inc.

2.80%,

9/15/2041

100,000

68,686

4.25%,

4/01/2052

6,000

4,719

5.63%,

4/15/2053

47,000

45,543

4.45%,

4/01/2062

37,000

28,791

Macy's

Retail

Holdings

LLC

,

5.88%

,

3/15/2030

(b)

31,000

29,758

McDonald's

Corp.

,

4.88%

,

12/09/2045

54,000

48,582

Starbucks

Corp.

,

5.00%

,

2/15/2034

78,000

76,182

593,401

Semiconductors

–

1.7%

Advanced

Micro

Devices,

Inc.

,

4.39%

,

6/01/2052

46,000

38,939

Intel

Corp.

5.20%,

2/10/2033

37,000

36,960

5.63%,

2/10/2043

30,000

29,733

5.70%,

2/10/2053

53,000

52,134

Micron

Technology,

Inc.

,

2.70%

,

4/15/2032

134,000

111,006

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

,

3.25%

,

5/11/2041

120,000

87,590

Texas

Instruments,

Inc.

,

5.05%

,

5/18/2063

31,000

28,832

385,194

Software

–

2.0%

Fidelity

National

Information

Services,

Inc.

,

1.15%

,

3/01/2026

130,000

121,165

Fiserv,

Inc.

,

5.45%

,

3/15/2034

115,000

114,331

Microsoft

Corp.

,

2.68%

,

6/01/2060

100,000

61,112

Oracle

Corp.

4.65%,

5/06/2030

49,000

48,033

3.65%,

3/25/2041

100,000

76,578

4.00%,

7/15/2046

50,000

38,168

459,387

Telecommunications

–

3.6%

AT&T,

Inc.

2.55%,

12/01/2033

200,000

159,093

3.50%,

6/01/2041

100,000

76,448

3.55%,

9/15/2055

50,000

33,738

Rogers

Communications,

Inc.

4.50%,

3/15/2042

80,000

67,800

4.55%,

3/15/2052

62,000

50,652

10

Statement

of

Investments

(continued)

Description

Principal

Amount

($)

(a)

Value

($)

Corporate

Bonds

–

97.2%

(continued)

Telecommunications

–

3.6%

(continued)

T-Mobile

USA,

Inc.

3.50%,

4/15/2031

150,000

134,937

3.30%,

2/15/2051

75,000

50,676

Verizon

Communications,

Inc.

1.50%,

9/18/2030

100,000

81,634

2.85%,

9/03/2041

60,000

42,066

3.88%,

3/01/2052

100,000

75,921

5.50%,

2/23/2054

34,000

33,307

806,272

Transportation

–

1.7%

Canadian

National

Railway

Co.

,

4.40%

,

8/05/2052

23,000

19,795

Canadian

Pacific

Railway

Co.

,

1.75%

,

12/02/2026

50,000

46,143

CSX

Corp.

,

3.95%

,

5/01/2050

90,000

70,946

FedEx

Corp.

,

4.75%

,

11/15/2045

84,000

72,509

Ryder

System,

Inc.

,

5.65%

,

3/01/2028

80,000

81,215

Union

Pacific

Corp.

,

4.95%

,

9/09/2052

58,000

54,262

XPO,

Inc.

6.25%,

6/01/2028

(b)

30,000

30,146

7.13%,

2/01/2032

(b)

5,000

5,130

380,146

Trucking

&

Leasing

–

0.7%

Penske

Truck

Leasing

Co.

LP

/

PTL

Finance

Corp.

,

5.55%

,

5/01/2028

(b)

150,000

151,109

151,109

Total

Corporate

Bonds

(cost

$23,115,823)

22,067,125

Foreign

Governmental

–

1.0%

Chile

Government

International

Bond,

4.85%,

1/22/2029

200,000

197,917

Republic

of

Poland

Government

International

Bond,

5.50%,

3/18/2054

27,000

26,243

Total

Foreign

Governmental

(cost

$226,510)

224,160

Municipal

Securities

–

0.0%

California

Health

Facilities

Financing

Authority,

RB,

Series

2022,

4.35%,

6/01/2041

10,000

8,948

Total

Municipal

Securities

(cost

$10,000)

8,948

Shares

Investment

Companies

–

2.2%

Registered

Investment

Companies

–

2.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.27%

(e)(f)

(cost

$502,735)

502,735

502,735

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

5.27%

(e)(f)

(cost

$36,093)

36,093

36,093

Total

Investments

(cost

$23,891,161)

100.6%

22,839,061

Liabilities,

Less

Cash

and

Receivables

(0.6)%

(141,368)

Net

Assets

100.0%

22,697,693

EUR—Euro

RB—Revenue

Bond

(a)

Amounts

stated

in

U.S.

Dollar

unless

otherwise

noted

above.

(b)

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

June

30,

2024,

these

securities

were

valued

at

$5,961,378

or

26.26%

of

net

assets.

(c)

Perpetual

bond

with

no

specified

maturity

date.

(d)

Security,

or

portion

thereof,

on

loan.

At

June

30,

2024,

the

value

of

the

fund’s

securities

on

loan

was

$300,343

and

the

value

of

the

collateral

was

$315,448,

consisting

of

cash

collateral

of

$36,093

and

U.S.

Government

&

Agency

securities

valued

at

$279,355.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

(e)

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

(f)

The

rate

shown

is

the

1-day

yield

as

of

June

30,

2024.

11

See

Notes

to

Financial

Statements

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

June

30,

2024

are

as

follows:

Description

Value

($)

6/30/23

Purchases

($)

1

Sales

($)

Value

($)

6/30/24

Dividends/

Distributions

($)

Investment

Companies

–

2.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

100,316

6,562,493

(6,160,074)

502,735

10,754

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

299,170

5,078,485

(5,341,562)

36,093

3,732

2

Total

–

2.4%

399,486

11,640,978

(11,501,636)

538,828

14,486

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

U.S.

Treasury

Long

Bonds

11

9/19/2024

1,284,146

1,301,438

17,292

U.S.

Treasury

2

Year

Notes

10

9/30/2024

2,036,579

2,042,188

5,609

U.S.

Treasury

10

Year

Notes

1

9/19/2024

109,024

109,984

960

Futures

Short

U.S.

Treasury

5

Year

Notes

1

9/30/2024

105,884

106,578

(694)

Euro-

Buxl

3

9/6/2024

416,703

*

422,876

(6,173)

U.S.

Treasury

10

Year

Ultra

Notes

19

9/19/2024

2,142,550

2,157,094

(14,544)

Gross

Unrealized

Appreciation

23,861

Gross

Unrealized

Depreciation

(21,411)

*

Notional

amounts

in

foreign

currency

have

been

converted

to

USD

using

relevant

foreign

exchange

rates.

Forward

Foreign

Currency

Exchange

Contracts

Counterparty

/

Purchased

Currency

Purchased

Currency

Amounts

Currency

Sold

Sold

Currency

Amounts

Settlement

Date

Unrealized

Appreciation

(Depreciation)

($)

Goldman

Sachs

&

Co.

United

States

Dollar

21,349

Euro

20,000

7/16/2024

(87)

United

States

Dollar

154,804

Euro

142,000

8/6/2024

2,452

United

States

Dollar

146,368

Euro

134,000

8/20/2024

2,497

United

States

Dollar

106,511

Euro

99,000

9/4/2024

139

Gross

Unrealized

Appreciation

5,088

Gross

Unrealized

Depreciation

(87)

12

STATEMENT

OF

ASSETS

AND

LIABILITIES

June

30,

2024

See

Notes

to

Financial

Statements

Cost

Value

Assets

($):

Investments

in

securities—See

Statement

of

Investments

(including

securities

on

loan,

valued

at

$300,343)—Note

2(c):

–

Unaffiliated

issuers

23,352,333

22,300,233‌

Affiliated

issuers

538,828

538,828‌

Cash

denominated

in

foreign

currency

303

303‌

Cash

collateral

held

by

broker—Note

4

54,391‌

Interest

receivable

264,945‌

Receivable

for

investment

securities

sold

173,709‌

Unrealized

appreciation

on

forward

foreign

currency

exchange

contracts—Note

4

5,088‌

Dividends

receivable

1,001‌

Receivable

for

futures

variation

margin—Note

4

688‌

Securities

lending

income

receivable

109‌

23,339,295‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

6,526‌

Liability

for

securities

on

loan—Note

2(c)

36,093‌

Payable

for

investment

securities

purchased

598,896‌

Unrealized

depreciation

on

forward

foreign

currency

exchange

contracts—Note

4

87‌

641,602‌

Net

Assets

($)

22,697,693‌

Composition

of

Net

Assets

($):

Paid-in

capital

25,050,050‌

Total

distributable

earnings

(loss)

(2,352,357‌)

Net

Assets

($)

22,697,693‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

500,001‌

Net

asset

value

per

share

45.40‌

Market

price

per

share

45.48‌

13

STATEMENT

OF

OPERATIONS

Year

Ended

June

30,

2024

See

Notes

to

Financial

Statements

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

10,754‌

Interest

1,077,285‌

Income

from

securities

lending—Note

2(c)

3,732‌

Total

Income

1,091,771‌

Expenses:

Management

fee—Note

3(a)

78,566‌

Total

Expenses

78,566‌

Net

Investment

Income

1,013,205‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

(493,634‌)

Net

realized

gain

(loss)

on

futures

(8,665‌)

Net

realized

gain

(loss)

on

forward

foreign

currency

exchange

contracts

9,271‌

Net

realized

gain

(loss)

(493,028‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

598,193‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

(107‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

forward

foreign

currency

exchange

contracts

5,990‌

Net

change

in

unrealized

appreciation

(depre

ciation)

604,076‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

111,048‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

1,124,253‌

14

STATEMENT

OF

CHANGES

IN

NET

ASSETS

See

Notes

to

Financial

Statements

Year

Ended

June

30,

2024

2023

Operations

($):

Net

investment

income

1,013,205‌

909,217‌

Net

realized

gain

(loss)

on

investments

(493,028‌)

(572,114‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

604,076‌

105,112‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

1,124,253‌

442,215‌

Distributions

($):

Distributions

to

shareholders

(1,108,452‌)

(865,717‌)

Beneficial

Interest

Transactions

($):

Proceeds

from

shares

sold

—‌

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

—‌

—‌

Total

Increase

(Decrease)

in

Net

Assets

15,801‌

(423,502‌)

Net

Assets

($):

Beginning

of

Period

22,681,892‌

23,105,394‌

End

of

Period

22,697,693‌

22,681,892‌

Changes

in

Shares

Outstanding:

Shares

sold

—‌

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

—‌

—‌

15

FINANCIAL

HIGHLIGHTS

The

following

table

describes

the

performance

for

the

fiscal

periods

indicated.

See

Notes

to

Financial

Statements

Year

Ended

June

30,

For

the

Period

from

March

22,

2022

(a)

to

June

30,

2022

2024

2023

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

45.36‌

46.21‌

50.00‌

Investment

Operations:

Net

investment

income

(b)

2.03‌

1.82‌

0.45‌

Net

realized

and

unrealized

gain

(loss)

on

investments

0.23‌

(0.94‌)

(4.01‌)

Total

from

Investment

Operations

2.26‌

0.88‌

(3.56‌)

Distributions:

–

–

–

Dividends

from

net

investment

income

(2.22‌)

(1.73‌)

(0.33‌)

Transaction

fees

(b)

—‌

—‌

0.10‌

Net

asset

value,

end

of

period

45.40‌

45.36‌

46.21‌

Market

price,

end

of

period

45.48‌

45.47‌

46.46‌

Net

Asset

Value

Total

Return

(%)

(c)

5.12‌

2.01‌

(6.94‌)

(d)

Market

Price

Total

Return

(%)

(c)

5.07‌

1.69‌

(6.44‌)

(d)

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.35‌

0.35‌

0.35‌

(e)

Ratio

of

net

investment

income

to

average

net

assets

4.51‌

4.01‌

3.41‌

(e)

Portfolio

Turnover

Rate

(f)

56.72‌

53.59‌

13.06‌

Net

Assets,

end

of

period

($

x

1,000)

22,698‌

22,682‌

23,105‌

(a)

Commencement

of

operations.

(b)

Based

on

average

shares

outstanding.

(c)

Net

asset

value

total

return

is

calculated

assuming

an

initial

investment

made

at

the

net

asset

value

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

net

asset

value

during

the

period,

and

redemption

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

is

calculated

assuming

an

initial

investment

made

at

the

market

price

at

the

beginning

of

the

period,

reinvestment

of

all

dividends

and

distributions

at

market

price

during

the

period,

and

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

(d)

The

net

asset

value

total

return

and

the

market

price

total

return

is

calculated

from

fund

inception.

The

inception

date

is

the

first

date

the

fund

was

available

on

NYSE

Arca,

Inc.

(e)

Annualized.

(f)

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

16

NOTES

TO

FINANCIAL

STATEMENTS

NOTE

1—Organization:

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF (the “fund”) is a

separate

diversified series

of

BNY

Mellon

ETF

Trust

(the

“Trust”),

which is

registered as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-ended

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

thirteen

series,

including

the

fund.

The

investment

objective

of

the

fund

is

to

seek

total

return

consisting

of

capital

appreciation

and

income.

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY”),

serves

as

the

fund’s

investment

adviser. Insight

North

America

LLC (the

“Sub-Adviser”

or

“INA”),

an

indirect wholly-owned

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser,

serves

as

the

fund’s

sub-adviser.

The

Bank

of

New

York

Mellon,

a

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser,

serves

as

administrator,

custodian

and

transfer

agent

with

the

Trust.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

the

fund’s

shares.

The

shares

of

the

fund

are

referred

to

herein

as

“Shares”

or

“Fund

Shares.”

Fund

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc..

The

market

price

of

each

Share

may

differ

to

some

degree

from

the

fund’s

net

asset

value

(“NAV”).

Unlike

conventional

mutual

funds,

the

fund

issues

and

redeems

Shares

on

a

continuous

basis,

at

NAV,

only

in

a

large

specified

number

of

Shares,

each

called

a

“Creation

Unit”.

Creation

Units

are

issued

and

redeemed

principally

in

exchange

for

the

deposit

or

delivery

of

a

basket

of

securities.

Except

when

aggregated

in

Creation

Units

by

Authorized

Participants,

the

Shares

are

not

individually

redeemable

securities

of

the

fund.

Individual

Fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc..,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

Fund

Shares

trade

at

market

prices

rather

than

at

NAV,

Fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask). 

NOTE

2—Significant

Accounting

Policies: 

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

SEC

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants. The

fund

is an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies. The

fund’s

financial

statements

are

prepared

in

accordance

with

GAAP,

which

may

require

the

use

of

management

estimates

and

assumptions.

Actual

results

could

differ

from

those

estimates.  

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

fund’s

maximum

exposure

under

these

arrangements

is

unknown.

The

fund

does

not

anticipate

recognizing

any

loss

related

to

these

arrangements. 

(a)

Portfolio

valuation:

The

fair

value

of

a

financial

instrument

is

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price).

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

of

valuation

techniques

used

to

measure

fair

value.

This

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Additionally,

GAAP

provides

guidance

on

determining

whether

the

volume

and

activity

in

a

market

has

decreased

significantly

and

whether

such

a

decrease

in

activity

results

in

transactions

that

are

not

orderly.

GAAP

requires

enhanced

disclosures

around

valuation

inputs

and

techniques

used

during

annual

and

interim

periods.

Various

inputs

are

used

in

determining

the

value

of

the

fund’s

investments

relating

to

fair

value

measurements.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

1

—

unadjusted

quoted

prices

in

active

markets

for

identical

investments.

Level

2

—

other

significant

observable

inputs

(including

quoted

prices

for

similar

investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Level

3

—

significant

unobservable

inputs

(including

the

fund’s

own

assumptions

in

determining

the

fair

value

of

investments).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

Changes

in

valuation

techniques

may

result

in

transfers

in

or

out

of

an

assigned

level

within

the

disclosure

hierarchy.

Valuation

techniques

used

to

value

the

fund’s

investments

are

as

follows:

Registered

investment

companies

that

are

not

traded

on

an

exchange

are

valued

at

their

net

asset

value

and

are

generally

categorized

within

Level 1

of

the

fair

value

hierarchy.

17

The

Trust’s Board

of

Trustees

(the

“Board”)

has

designated

the

Adviser

as

the

fund’s

valuation

designee

to

make

all

fair

value

determinations

with

respect

to

the

fund’s

portfolio

of

investments,

subject

to

the

Board’s

oversight

and

pursuant

to

Rule

2a-5

under

the

Act.

Investments

in

debt

securities

excluding

short-term

investments

(other

than

U.S.

Treasury

Bills),

futures

and

forward

foreign

currency

exchange

contracts

(“forward

contracts”)

are

valued

each

business

day

by

one

or

more

independent

pricing

services

(each,

a

“Service”)

approved

by the Board.

Investments

for

which

quoted

bid

prices

are

readily

available

and

are

representative

of

the

bid

side

of

the

market

in

the

judgment

of

a

Service

are

valued

at

the

mean

between

the

quoted

bid

prices

(as

obtained

by

a

Service

from

dealers

in

such

securities)

and

asked

prices

(as

calculated

by

a

Service

based

upon

its

evaluation

of

the

market

for

such

securities).

Securities

are

valued

as

determined

by

a

Service,

based

on

methods

which

include

consideration

of

the

following:

yields

or

prices

of

securities

of

comparable

quality,

coupon,

maturity

and

type;

indications

as

to

values

from

dealers;

and

general

market

conditions.

Each

Service

and

independent

valuation

firm

is

engaged

under

the

general

oversight

of

the

Board.

Overnight

and

certain

other

short-term

debt

instruments

(excluding

U.S.

Treasury

Bills)

will

be

valued

by

the

amortized

cost

method,

which

approximates

value,

unless

a

Service

provides

a

valuation

for

such

security

or,

in

the

opinion

of

the

Board

or

a

committee

or

other

persons

designated

by

the

Board,

the

amortized

cost

method

would

not

represent

fair

value. These

securities

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

fair

value

accurately,

they are

valued

at

fair

value

as

determined

in

good

faith

based

on

procedures

approved

by

the

Board.

Fair

value

of

investments

may

be

determined

by

valuation

designee

using

such

information

as

it

deems

appropriate

under

the

circumstances.

Certain

factors

may

be

considered

when

fair

valuing

investments

such

as:

fundamental

analytical

data,

the

nature

and

duration

of

restrictions

on

disposition,

an

evaluation

of

the

forces

that

influence

the

market

in

which

the

securities

are

purchased

and

sold,

and

public

trading

in

similar

securities

of

the

issuer

or

comparable

issuers.

These

securities

are

either

categorized

within

Level

2

or

3

of

the

fair

value

hierarchy

depending

on

the

relevant

inputs

used.

For

securities

where

observable

inputs

are

limited,

assumptions

about

market

activity

and

risk

are

used

and

are

generally

categorized

within

Level

3

of

the

fair

value

hierarchy.

Futures,

which

are

traded

on

an

exchange,

are

valued

at

the

last

sales

price

on

securities

exchange

on

which

such

contracts

are

primarily

traded

or

at

the

last

sales

price

on

the

exchange

on

each

business

day

and

are

generally

categorized

within

Level

1

of

the

fair

value

hierarchy.

Forward

contracts

are

valued

at

the

forward

rate

and

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

The

table

below

summarizes

the

inputs

used

as

of June

30,

2024

in

valuing

the

fund’s

investments:

Fair

Value

Measurements

(b)

Foreign

currency

transactions:

The

fund

does

not

isolate

that

portion

of

the

results

of

operations

resulting

from

changes

in

foreign

exchange

rates

on

investments

from

the

fluctuations

arising

from

changes

in

the

market

prices

of

securities

held.

Such

fluctuations

are

included

with

the

net

realized

and

unrealized

gain

or

loss

on

investments.

Level

1

-

Unadjusted

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Total

Assets

($)

Investments

In

Securities:

†

Corporate

Bonds

—

22,067,125

—

22,067,125

Foreign

Governmental

—

224,160

—

224,160

Municipal

Securities

—

8,948

—

8,948

Investment

Companies

502,735

—

—

502,735

Investment

of

Cash

Collateral

for

Securities

Loaned

36,093

—

—

36,093

Other

Financial

Instruments:

Futures

††

23,861

—

—

23,861

Forward

Foreign

Currency

Exchange

Contracts

††

—

5,088

—

5,088

Liabilities

($)

Other

Financial

Instruments:

Futures

††

(21,411)

—

—

(21,411)

Forward

Foreign

Currency

Exchange

Contracts

††

—

(87)

—

(87)

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

††

Amount

shown

represents

unrealized

appreciation

(depreciation)

at

period

end,

but

only

variation

margin

on

exchange-traded

and

centrally

cleared

derivatives,

if

any,

are

reported

in

the

Statement

of

Assets

and

liabilities.

18

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Net

realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

on

securities

transactions

between

trade

and

settlement

date,

and

the

difference

between

the

amounts

of

dividends,

interest

and

foreign

withholding

taxes

recorded

on

the

fund’s

books

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

the

value

of

assets

and

liabilities

other

than

investments

resulting

from

changes

in

exchange

rates.

Foreign

currency

gains

and

losses

on

foreign

currency

transactions

are

also

included

with

net

realized

and

unrealized

gain

or

loss

on

investments.

Foreign

Taxes:

The

fund

may

be

subject

to

foreign

taxes

(a

portion

of

which

may

be

reclaimable)

on

income,

stock

dividends,

realized

and

unrealized

capital

gains

on

investments

or

certain

foreign

currency

transactions.

Foreign

taxes

are

recorded

in

accordance

with

the

applicable

foreign

tax

regulations

and

rates

that

exist

in

the

foreign

jurisdictions

in

which

the

fund

invests.

These

foreign

taxes,

if

any,

are

paid

by

the

fund

and

are

reflected

in

the

Statement

of

Operations,

if

applicable.

Foreign

taxes

payable

or

deferred

or

those

subject

to

reclaims as

of 

June

30,

2024

,

if

any,

are

disclosed

in

the

fund’s

Statement

of

Assets

and

Liabilities.

(c)

Securities

transactions

and

investment

income:

Securities

transactions

are

recorded

on

a

trade

date

basis.

Realized

gains

and

losses

from

securities

transactions

are

recorded

on

the

identified

cost

basis.

Dividend

income

is

recognized

on

the

ex-dividend

date

and

interest

income,

including,

where

applicable,

accretion

of

discount

and

amortization

of

premium

on

investments,

is

recognized

on

the

accrual

basis.

Pursuant

to

a

securities

lending

agreement

with

BNY,

the

fund

may

lend

securities

to

qualified

institutions.

It

is

the

fund’s

policy

that,

at

origination,

all

loans

are

secured

by

collateral

of

at

least

102%

of

the

value

of

U.S.

securities

loaned

and

105%

of

the

value

of

foreign

securities

loaned.

Collateral

equivalent

to

at

least

100%

of

the

market

value

of

securities

on

loan

is

maintained

at

all

times.

Collateral

is

either

in

the

form

of

cash,

which

can

be

invested

in

certain

money

market

mutual

funds

managed

by

the

Adviser,

or

U.S.

Government

and

Agency

securities.

Any

non-cash

collateral

received

cannot

be

sold

or

re-pledged

by

the

fund,

except

in

the

event

of

borrower

default.

The

securities

on

loan,

if

any,

are

also

disclosed

in

the

fund’s

Statement

of

Investments.

The

fund is

entitled

to

receive

all

dividends,

interest

and

distributions

on

securities

loaned,

in

addition

to

income

earned

as

a

result

of

the

lending

transaction.

Should

a

borrower

fail

to

return

the

securities

in

a

timely

manner,

BNY

is

required

to

replace

the

securities

for

the

benefit

of

the

fund

or

credit

the

fund

with

the

market

value

of

the

unreturned

securities

and

is

subrogated

to

the

fund’s

rights

against

the

borrower

and

the

collateral.

Additionally,

the

contractual

maturity

of

security

lending

transactions

are

on

an

overnight

and

continuous

basis.

During

the

year

ended

June

30,

2024,

BNY

earned

$507 from

the

lending

of

the

fund’s portfolio

securities,

pursuant

to

the

securities

lending

agreement.

For

financial

reporting

purposes,

the

fund

elects

not

to

offset

assets

and

liabilities

subject

to

a

securities

lending

agreement,

if

any,

in

the

Statement

of

Assets

and

Liabilities.

Therefore,

all

qualifying

transactions

are

presented

on

a

gross

basis

in

the

Statement

of

Assets

and

Liabilities.

As

of

June

30,

2024,

the

fund

had

securities

lending

and

the

impact

of

netting

of

assets

and

liabilities

and

the

offsetting

of

collateral

pledged

or

received,

if

any,

based

on

contractual

netting/set-off

provisions

in

the

securities

lending

agreement

are

detailed

in

the

following

table:

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

or

its

affiliates are

defined

as

“affiliated”

under

the

Act. 

(e)

Market

Risk:

The

value

of

the

securities

in

which

the

fund

invests

may

be

affected

by

political,

regulatory,

economic

and

social

developments,

and

developments

that

impact

specific

economic

sectors,

industries

or

segments

of

the

market.

In

addition,

turbulence

in

financial

markets

and

reduced

liquidity

in

equity,

credit

and/or

fixed

income

markets

may

negatively

affect

many

issuers,

which

could

adversely

affect

the

fund.

Global

economies

and

financial

markets

are

becoming

increasingly

interconnected,

and

conditions

and

events

in

one

country,

region

or

financial

market

may

adversely

impact

issuers

in

a

different

country,

region

or

financial

market.

These

risks

may

be

magnified

if

certain

events

or

developments

adversely

interrupt

the

global

supply

chain;

in

these

and

other

circumstances,

such

risks

might

affect

companies

world-wide.

Assets

($)

Liabilities

($)

Securities

Lending

300,343

—

Total

gross

amount

of

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

300,343

—

Collateral

(received)/posted

not

offset

in

the

Statement

of

Assets

and

Liabilities

(300,343)

†

—

Net

Amount

—

—

†

The

value

of

the

related

collateral

received

by

the

fund

normally

exceeded

the

value

of

the

securities

loaded

by

the

fund

pursuant

to

the

securities

lending

agreement.

In

addition,

the

value

of

collateral

may

include

pending

sales

that

are

also

on

loan.

See

Statement

of

Investments

for

detailed

information

regarding

the

collateral

received

for

open

securities

lending.

19

Fixed-Income

Market

Risk:

The

market

value

of

a

fixed-income

security

may

decline

due

to

general

market

conditions

that

are

not

specifically

related

to

a

particular

company,

such

as

real

or

perceived

adverse

economic

conditions,

changes

in

the

outlook

for

corporate

earnings,

changes

in

interest

or

currency

rates

or

adverse

investor

sentiment

generally.

The

fixed-income

securities

market

can

be

susceptible

to

increases

in

volatility

and

decreases

in

liquidity.

Liquidity

can

decline

unpredictably

in

response

to

overall

economic

conditions

or

credit

tightening.

Increases

in

volatility

and

decreases

in

liquidity

may

be

caused

by

a

rise

in

interest

rates

(or

the

expectation

of

a

rise

in

interest

rates).

An

unexpected

increase

in

redemption

requests,

including

requests

from

Authorized

Participants

who

may

own

a

significant

percentage

of

the

fund’s

shares,

which

may

be

triggered

by

market

turmoil

or

an

increase

in

interest

rates,

could

cause

the

fund

to

sell

its

holdings

at

a

loss

or

at

undesirable

prices

and

adversely

affect

the

fund’s

share

price

and

increase

the

fund’s

liquidity

risk,

fund

expenses

and/or

taxable

distributions.

Federal

Reserve

policy

in

response

to

market

conditions,

including

with

respect

to

interest

rates,

may

adversely

affect

the

value,

volatility

and

liquidity

of

dividend

and

interest

paying

securities.

Policy

and

legislative

changes

worldwide

are

affecting

many

aspects

of

financial

regulation.

The

impact

of

these

changes

on

the

markets

and

the

practical

implications

for

market

participants

may

not

be

fully

known

for

some

time.

ESG

Investment

Approach

Risk:

The

fund’s

incorporation

of

ESG

considerations

into

its

investment

approach

may

cause

it

to

make

different

investments

than

funds

that

invest

principally

in

corporate

bonds

but

do

not

incorporate

ESG

considerations

when

selecting

investments.

Under

certain

economic

conditions,

this

could

cause

the

fund

to

underperform

funds

that

do

not

incorporate

ESG

considerations.

For

example,

the

incorporation

of

ESG

considerations

may

result

in

the

fund

forgoing

opportunities

to

buy

certain

securities

when

it

might

otherwise

be

advantageous

to

do

so

or

selling

securities

when

it

might

otherwise

be

disadvantageous

for

the

fund

to

do

so.

The

incorporation

of

ESG

considerations

may

also

affect

the

fund’s

exposure

to

certain

sectors

and/or

types

of

investments,

and

may

adversely

impact

the

fund’s

performance

depending

on

whether

such

sectors

or

investments

are

in

or

out

of

favor

in

the

market.

INA’s

security

selection

process

incorporates

ESG

data

provided

by

third

parties,

which

may

be

limited

for

certain

issuers

and/or

only

take

into

account

one

or

a

few

ESG

related

components.

In

addition,

ESG

data

may

include

quantitative

and/or

qualitative

measures,

and

consideration

of

this

data

may

be

subjective.

Different

methodologies

may

be

used

by

the

various

data

sources

that

provide

ESG

data.

ESG

data

from

third

parties

used

by

INA

as

part

of

its

proprietary

ESG

process

often

lacks

standardization,

consistency

and

transparency,

and

for

certain

issuers

such

data

may

not

be

available

complete

or

accurate.

INA’s

evaluation

of

ESG

factors

relevant

to

a

particular

issuer

may

be

adversely

affected

in

such

instances.

As

a

result,

the

fund’s

investments

may

differ

from,

and

potentially

underperform,

funds

that

incorporate

ESG

data

from

other

sources

or

utilize

other

methodologies.

Foreign

Investment

Risk:

Because

the

fund

invests

in

foreign

securities,

the

fund’s

performance

will

be

influenced

by

political,

social

and

economic

factors

affecting

investments

in

foreign

issuers.

Special

risks

associated

with

investments

in

foreign

issuers

include

exposure

to

currency

fluctuations,

less

liquidity,

less

developed

or

less

efficient

trading

markets,

lack

of

comprehensive

company

information,

political

and

economic

instability

and

differing

auditing

and

legal

standards.

The

imposition

of

sanctions,

confiscations,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

United

States

and

other

governments,

or

problems

in

share

registration,

settlement

or

custody,

may

result

in

losses

for

the

fund.

Investments

denominated

in

foreign

currencies

are

subject

to

the

risk

that

such

currencies

will

decline

in

value

relative

to

the

U.S.

dollar

and

affect

the

value

of

these

investments

held

by

the

fund.

Some

sovereign

obligors

have

been

among

the

world’s

largest

debtors

to

commercial

banks,

other

governments,

international

financial

organizations

and

other

financial

institutions.

These

obligors,

in

the

past,

may

have

experienced

substantial

difficulties

in

servicing

their

external

debt

obligations,

which

led

to

defaults

on

certain

obligations

and

the

restructuring

of

certain

indebtedness.

To

the

extent

securities

held

by

the

fund

trade

in

a

market

that

is

closed

when

the

exchange

on

which

the

fund’s

shares

trade

is

open,

there

may

be

deviations

between

the

current

price

of

a

security

and

the

last

quoted

price

for

the

security

in

the

closed

foreign

market.

These

deviations

could

result

in

the

fund

experiencing

premiums

or

discounts

greater

than

those

of

ETFs

that

invest

in

domestic

securities.

High

Yield

Securities Risk:

High

yield

(“junk”)

securities

involve

greater

credit

risk,

including

the

risk

of

default,

than

investment

grade

securities,

and

are

considered

predominantly

speculative

with

respect

to

the

issuer’s

ability

to

make

principal

and

interest

payments.

The

prices

of

high

yield

securities

can

fall

in

response

to

unfavorable

news

about

the

issuer

or

its

industry,

or

the

economy

in

general,

to

a

greater

extent than

those

of

higher

rated

securities.

Authorized

Participants,

Market

Makers

and

Liquidity

Providers

Risk:

The

fund

has

a

limited

number

of

financial

institutions

that

may

act

as

Authorized

Participants,

which

are

responsible

for

the

creation

and

redemption

activity

for

the

fund.

In

addition,

there

may

be

a

limited

number

of

market

makers

and/or

liquidity

providers

in

the

marketplace.

To

the

extent

either

of

the

following

events

occur,

fund

shares

may

trade

at

a

material

discount

to

net

asset

value

and

possibly

face

delisting:

(i)

Authorized

Participants

exit

the

business

or

otherwise

become

unable

to

process

creation

and/or

redemption

orders

and

no

other

Authorized

Participants

step

forward

to

perform

these

services,

or

(ii)

market

makers

and/or

liquidity

providers

exit

the

business

or

significantly

reduce

their

business

activities

and

no

other

entities

step

forward

to

perform

their

functions.

(f)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions

are

recorded

on

the

ex-dividend

date.

Dividends

from

net

investment

income

are

normally

declared

and

paid

on

a

monthly

basis. Dividends

from

net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

the

fund

may

make

distributions

on

a

more

frequent

basis

to

comply

with

the

distribution

requirements

20

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

To

the

extent

that

net

realized

capital

gains

can

be

offset

by

capital

loss

carryovers

of

a

fund,

it

is

the

policy

of

the

fund

not

to

distribute

such

gains.

Income

and

capital

gain

distributions

are

determined

in

accordance

with

income

tax

regulations,

which

may

differ

from

GAAP.

(g)

Federal

income

taxes:

It

is

the

policy

of

the

fund

to

continue to

qualify

as

a

regulated

investment

company,

if

such

qualification

is

in

the

best

interests

of

its

shareholders,

by

complying

with

the

applicable

provisions

of

the

Code,

and

to

make

distributions

of

taxable

income

and

net

realized

capital

gain sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

For

federal

income

tax

purposes,

the

fund

is

treated

as

a

separate

entity.

As

of

and

during

the period

ended June

30,

2024,

the

fund

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

The

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statement

of

Operations.

During

the period

ended June

30,

2024,

the

fund

did

not

incur

any

interest

or

penalties.

Each

tax

year

in

the

three-year

period

ended June

30,

2024

remains

subject

to

examination

by

the

Internal

Revenue

Service

and

state

taxing

authorities.

At June

30,

2024,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

undistributed

ordinary

income

$94,755,

accumulated

capital

losses

$1,364,165,

and

unrealized depreciation

$1,082,947.

The

fund is

permitted

to

carry

forward

capital

losses

for

an

unlimited

period.

Furthermore,

capital

loss

carryovers

retain

their

character

as

either

short-term

or

long-term

capital

losses.

The

accumulated

capital

loss

carryover

is

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to

June

30,

2024.

The

fund

has

$811,604

of

short-term

capital

losses

and

$552,561

of

long-term

capital

losses

which

can

be

carried

forward

for

an

unlimited

period.

The

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

years

ended

June

30,

2024

and

June

30,

2023

were

as

follows:

ordinary

income

$1,108,452

and

$865,717,

respectively.

NOTE

3—Management

Fee,

Sub-Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Pursuant

to

a

management

agreement

with

the

Adviser,

the

management

fee

is computed

at

an

annual

rate of

0.35%

of

the

value

of

the

fund’s

average

daily

net

assets

and

is

payable

monthly.

The

fund’s

management

agreement

provides

that

the

Adviser

pays

substantially

all

expenses

of

the

fund,

except

for

the

management

fees,

payments

under

the

fund’s

12b-1

plan

(if

any),

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

The

Adviser

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended

June

30,

2024,

there

was

no

reduction

in

expenses

pursuant

to

the

undertaking.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Sub-Adviser

serves

as

the

fund’s

sub-

adviser

responsible

for

the

day-to-day

management

of

the

fund’s

portfolio.

The

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

percentage

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser

has

obtained

an

exemptive

order

from

the

SEC

(the

“Order”),

upon

which

the

fund

may

rely,

to

use

a

manager

of

managers

approach

that

permits

the

Adviser,

subject

to

certain

conditions

and

approval

by

the

Board,

to

enter

into

and

materially

amend

sub-investment

advisory

agreements

with

one

or

more

sub-advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

the

fund

from

disclosing

the

sub-advisory

fee

paid

by

the

Adviser

to

a

Sub-Adviser

in

documents

filed

with

the

SEC

and

provided

to

shareholders.

In

addition,

pursuant

to

the

Order,

it

is

not

necessary

to

disclose

the

sub-advisory

fee

payable

by

the

Adviser

separately

to

a

Sub-Adviser

that

is

a

wholly-owned

subsidiary

(as

defined

in

the

1940

Act)

of

BNY

in

documents

filed

with

the

SEC

and

provided

to

shareholders;

such

fees

are

to

be

aggregated

with

fees

payable

to

the

Adviser.

The

Adviser

has

ultimate

responsibility

(subject

to

oversight

by

the

Board)

to

supervise

any

Sub-Adviser

and

recommend

the

hiring,

termination,

and

replacement

of

any

Sub-Adviser

to

the

Board.

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Adviser

pays

the

Sub-Adviser

a

monthly

fee

at

an

annual

rate

of

0.175%

of

the

value

of

the

fund’s

average

daily

net

assets.

The

Adviser,

and

not

the

fund,

pays

the

Sub-Adviser

fee

rate.

(b)

The

fund

has

an

arrangement

with

The

Bank

of

New

York

Mellon

(the

“Custodian”),

a

subsidiary

of

BNY

and

an

affiliate

of

the

Adviser, whereby

the

fund

will

receive

interest

income

or

be

charged

overdraft

fees

when

cash

balances

are

maintained.

For

financial

reporting

purposes,

the

fund

includes

this

interest

income

and

overdraft

fees,

if

any,

as

interest

income

in

the

Statement

of

Operations.

21

The

components

of

“Due

to

BNY

Mellon

ETF Investment

Adviser,

LLC”

in

the

Statement

of

Assets

and

Liabilities

consist

of:

management

fee

of $6,526.

(c)

Each

Board

member

serves

as

a

Board

member

of

each

fund

within

the

Trust.

The

Board

members

are

not

compensated

directly

by

the

fund.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Trust,

including

the

fund.

NOTE

4—Securities

Transactions:

The

aggregate

amount

of

purchases

and

sales

(including

paydowns)

of

investment

securities,

excluding

short-term

securities,

futures,

forward

contracts

and

in-kind

transactions,

during

the

period

ended

June

30,

2024, amounted

to $12,528,580

and

$12,710,006,

respectively.

Derivatives:

A

derivative

is

a

financial

instrument

whose

performance

is

derived

from

the

performance

of

another

asset.

The

fund

enters

into

International

Swaps

and

Derivatives

Association,

Inc.

Master

Agreements

or

similar

agreements

(collectively,

“Master

Agreements”)

with

its

over-the-counter

(“OTC”)

derivative

contract

counterparties

in

order

to,

among

other

things,

reduce

its

credit

risk

to

counterparties.

Master

Agreements

include

provisions

for

general

obligations,

representations,

collateral

and

events

of

default

or

termination.

Under

a

Master

Agreement,

the

fund

may

offset

with

the

counterparty

certain

derivative

financial

instruments’

payables

and/or

receivables

with

collateral

held

and/or

posted

and

create

one

single

net

payment

in

the

event

of

default

or

termination.

Rule

18f-4

under

the

Act

regulates

the

use

of

derivative

transactions

for

certain

funds

registered

under

the

Act.

The

fund’s

derivative

transactions

are

subject

to

a

value-at-

risk

leverage

limit

and

certain

reporting

and

other

requirements

pursuant

to

a

derivatives

risk

management

program

adopted

by

the

fund.

Each

type

of

derivative

instrument

that

was

held

by

the

fund

during

the year

ended

June

30,

2024

is

discussed

below.

Futures:

In

the

normal

course

of

pursuing

its

investment

objective,

exposed

to

market

risk,

including

interest

risk,

as

a

result

of

changes

in

value

of

underlying

financial

instruments.

The

fund

invests

in

futures

in

order

to

manage

the

exposure

to

or

protect

against

changes

in

the

market.

A

futures

contract

represents

a

commitment

for

the

future

purchase

or

a

sale

of

an

asset

at

a

specified

date.

Upon

entering

into

such

contracts,

these

investments

require

initial

margin

deposits

with

a

counterparty,

which

consist

of

cash

or

cash

equivalents.

The

amount

of

these

deposits

is

determined

by

the

exchange

or

Board

of

Trade

on

which

the

contract

is

traded

and

is

subject

to

change.

Accordingly,

variation

margin

payments

are

received

or

made

to

reflect

daily

unrealized

gains

or

losses

which

are

recorded

in

the

Statements

of

Operations.

When

the

contracts

are

closed,

the

fund

recognizes

a

realized

gain

or

loss

which

is

reflected

in

the

Statements

of

Operations.

There

is

minimal

counterparty

credit

risk

to

the

fund

with

futures

since

they

are

exchange

traded,

and

the

exchange

guarantees

the

futures

against

default.

Futures

open

at June

30,

2024,

are

set

forth

in

the

Statement

of

Investments.

Forward

Foreign

Currency

Exchange

Contracts:

T

he

fund

enters

into

forward

contracts

in

order

to

hedge

its

exposure

to

changes

in

foreign

currency

exchange

rates

on

its

foreign

portfolio

holdings,

to

settle

foreign

currency

transactions

or

as

a

part

of

its

investment

strategy.

When

executing

forward

contracts,

the

fund

is

obligated

to

buy

or

sell

a

foreign

currency

at

a

specified

rate

on

a

certain

date

in

the

future.

With

respect

to

sales

of

forward

contracts,

the

fund

incurs

a

loss

if

the

value

of

the

contract

increases

between

the

date

the

forward

contract

is

opened

and

the

date

the

forward

contract

is

closed.

The

fund

realizes

a

gain

if

the

value

of

the

contract

decreases

between

those

dates.

With

respect

to

purchases

of

forward

contracts,

the

fund

incurs

a

loss

if

the

value

of

the

contract

decreases

between

the

date

the

forward

contract

is

opened

and

the

date

the

forward

contract

is

closed.

The

fund

realizes

a

gain

if

the

value

of

the

contract

increases

between

those

dates.

Any

realized

or

unrealized

gains

or

losses

which

occurred

during

the

period

are

reflected

in

the

Statement

of

Operations.

The

fund

is

exposed

to

foreign

currency

risk

as

a

result

of

changes

in

value

of

underlying

financial

instruments.

The

fund

is

also

exposed

to

credit

risk

associated

with

counterparty

nonperformance

on

these

forward

contracts,

which

is

generally

limited

to

the

unrealized

gain

on

each

open

contract.

This

risk

may

be

mitigated

by

Master

Agreements,

if

any,

between

the

fund

and

the

counterparty

and

the

posting

of

collateral,

if

any,

by

the

counterparty

to

the

fund

to

cover

the

fund’s

exposure

to

the

counterparty.

Forward

contracts

open

at June

30,

2024

are

set

forth

in

the

Statement

of

Investments.

The

following

tables

show

the

fund’s

exposure

to

different

types

of

market

risk

as

it

relates

to

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively. 

Fair

value

of

derivative

instruments

as

of June

30,

2024

is

shown

below:

22

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Statement

of

Assets

and

Liabilities

location:

The

effect

of

derivative

instruments

in

the

Statements of

Operations

during

the year

ended

June

30,

2024 is

shown

below:

Statement

of

Operations

location:

The

provisions

of

ASC

Topic

210

“Disclosures

about

Offsetting

Assets

and

Liabilities”

require

disclosure

on

the

offsetting

of

financial

assets

and

liabilities.

These

disclosures

are

required

for

certain

investments,

including

derivative

financial

instruments

subject

to

Master

Agreements

which

are

eligible

for

offsetting

in

the

Statement

of

Assets

and

Liabilities

and

require

the

fund

to

disclose

both

gross

and

net

information

with

respect

to

such

investments.

For

financial

reporting

purposes,

the

fund

does

not

offset

derivative

assets

and

derivative

liabilities

that

are

subject

to

Master

Agreements

in

the

Statement

of

Assets

and

Liabilities.

At June

30,

2024,

derivative

assets

and

liabilities

(by

type)

on

a

gross

basis

are

as

follows:

The

following

tables

present

derivative

assets

and

liabilities

net

of

amounts

available

for

offsetting

under

Master

Agreements

and

net

of

related

collateral

received

or

pledged,

if

any,

as

of June

30,

2024:

Derivative

Assets

($)

Derivative

Liabilities

($)

Interest

rate

risk

23,861

(a)

Interest

rate

risk

(21,411)

(a)

Foreign

exchange

risk

5,088

(b)

Foreign

exchange

risk

(87)

(b)

Gross

fair

value

of

derivative

contracts

28,949

(21,498)

(a)

Includes

cumulative

appreciation

(depreciation)

on

futures

as

reported

in

the

Statement

of

Investments,

but

only

the

unpaid

variation

margin

is

reported

in

the

Statement

of

Assets

and

Liabilities.

(b)

Unrealized

appreciation

(depreciation)

on

forward

foreign

currency

exchange

contracts.

Amount

of

realized

gain

(loss)

on

derivatives

recognized

in

income

($)

Underlying

Risk

Futures

(a)

Forward

Contracts

(b)

Total

Interest

rate

(8,665)

—

(8,665)

Foreign

exchange

—

9,271

9,271

Total

(8,665)

9,271

606

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

recognized

in

income

($)

Underlying

Risk

Futures

(c)

Forward

Contracts

(d)

Total

Interest

rate

(107)

—

(107)

Foreign

exchange

—

5,990

5,990

Total

(107)

5,990

5,883

(a)

Net

realized

gain

(loss)

on

futures.

(b)

Net

realized

gain

(loss)

on

forward

foreign

currency

exchange

contracts.

(c)

Net

change

in

unrealized

appreciation

(depreciation)

on

futures.

(d)

Net

change

in

unrealized

appreciation

(depreciation)

on

forward

foreign

currency

exchange

contracts.

Derivative

Financial

Instruments:

Assets

($)

Liabilities

($)

Futures

23,861

(21,411)

Forward

contracts

5,088

(87)

Total

gross

amount

of

derivative

assets

and

liabilities

in

the

Statement

of

Assets

and

Liabilities

28,949

(21,498)

Derivatives

not

subject

to  Master

Agreements

23,861

(21,411)

Total

gross

amount

of

derivative

assets

and

liabilities

subject

to

Master

Agreements

5,088

(87)

Counterparty

Gross

Amount

of

Assets

($)

†

Financial

Instruments

and

Derivatives

Available

for

Offset

($)

Collateral

Received

($)

Net

Amount

of

Assets

($)

Goldman

Sachs

&

Co.

5,088

(87)

–

5,001

Counterparty

Gross

Amount

of

Liabilities($)

†

Financial

Instruments

and

Derivatives

Available

for

Offset

($)

Collateral

Pledged

($)

Net

Amount

of

Liabilities

($)

Goldman

Sachs

&

Co.

(87)

87

–

–

†

Absent

a

default

event

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

at

gross

amounts

and

are

not

offset

in

the

Statement

of

Assets

and

Liabilities.

23

The following

table summarizes

the

monthly

average market

value of

derivatives

outstanding

during

the year

ended

June

30,

2024:

At June

30,

2024,

the

cost

of

investments

for

federal

income

tax

purposes

was

$23,922,008;

accordingly,

accumulated

net

unrealized

depreciation on

investments

for

federal

income

tax

purposes

was

$1,082,947,

consisting

of

gross

appreciation

of

$171,333

and

gross

depreciation

of

$1,254,280.

NOTE

5—Shareholder

Transactions:

The

fund

issues

and

redeems

its

shares

on

a

continuous

basis,

at

NAV,

to

certain

institutional

investors

known

as

“Authorized

Participants”

(typically

market

makers

or

other

broker-dealers)

only

in

a

large

specified

number

of

shares

called

a

Creation

Unit.

Except

when

aggregated

in

Creation

Units,

shares

of

the

fund

are

not

redeemable.

The

value

of

the

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for the

fund

may

change.

Authorized

Participants

will

be

notified

of

such

change.

Creation

Unit

transactions

may

be

made

in-kind,

for

cash,

or

for

a

combination

of

securities

and

cash.

The

principal

consideration

for

creations

and

redemptions

for

the

fund

is

in-kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

the

fund

only:

in

Creation

Units

on

a

continuous

basis

through

the

Distributor,

without

a

sales

load,

at

their

NAV

per

share

determined

after

receipt

of

an

order,

on

any

Business

Day,

in

proper

form

pursuant

to

the

terms

of

the

Authorized

Participant

Agreement.

Transactions

in

capital

shares

for

the

fund

are

disclosed

in

detail

in

the

Statement

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of the

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

The

Adviser

or

its

affiliates

(the

“Selling

Shareholder”)

may

purchase

Creation

Units

through

a

broker-dealer

to

“seed”

(in

whole

or

in

part)

funds

as

they

are

launched

or

may

purchase shares

from

broker-dealers

or

other

investors

that

have

previously

provided

“seed”

for

funds

when

they

were

launched

or

otherwise

in

secondary

market

transactions.

Because

the

Selling

Shareholder

may

be

deemed

an

affiliate

of

such

funds,

the

fund shares

are

being

registered

to

permit

the

resale

of

these

shares

from

time

to

time

after

purchase.

The

fund

will

not

receive

any

of

the

proceeds

from

resale

by

the

Selling

Shareholders

of

these

fund

shares. An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Transaction

fees”

on

the

Statement

of

Changes

in

Net

Assets.

Seed

Capital:

As

of

June

30,

2024,

MBC

Investments

Corporation,

a

wholly-owned

subsidiary

of

BNY,

held

490,001

shares

of

the

fund.

In-kind

Redemptions:

For

financial

reporting

purposes,

in-kind

redemptions

are

treated

as

sales

of

securities

resulting

in

realized

capital

gains

or

losses

to

the

fund.

Because

such

gains

or

losses

are

not

taxable

to

the

fund

and

are

not

distributed

to

existing

fund

shareholders,

the

gains

or

losses

are

reclassified

from

accumulated

net

realized

gain

(loss)

to

paid-in

capital

at

the

end

of

the

fund’s

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

During

the

year

ended

June

30,

2024,

the

fund

had

no

in-kind

transactions.

Average

Market

Value

($)

Futures:

Interest

Rate

Futures

Long

2,723,698

Interest

Rate

Futures

Short

2,397,077

Forward

Contracts:

Forward

Contracts

Purchased

in

USD

377,775

Forward

Contracts

Sold

in

USD

375,743

24

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Shareholders

and

the

Board

of

Trustees

of

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statement

of

assets

and

liabilities

of

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF

(the

“Fund”)

(one

of

the

funds

constituting

BNY

Mellon

ETF

Trust

(the

“Trust”)),

including

the

statement

of

investments,

as

of

June

30,

2024,

and

the

related

statement

of

operations

for

the

year

then

ended,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

then

ended,

the

financial

highlights

for

the

two

years

in

the

period

then

ended

and

the

period

from

March

22,

2022

(commencement

of

operations)

through

June

30,

2022

and

the

related

notes

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Fund

(one

of

the

funds

constituting

BNY

Mellon

ETF

Trust)

at

June

30,

2024,

the

results

of

its

operations

for

the

year

then

ended,

the

changes

in

its

net

assets

for

each

of

two

years

in

the

period

then

ended

and

its

financial

highlights

for

each

of

the

two

years

in

the

period

then

ended

and

the

period

from

March

22,

2022

(commencement

of

operations)

through

June

30,

2022,

in

conformity

with

U.S.

generally

accepted

accounting

principles.

Basis

for

Opinion

These

financial

statements

are

the

responsibility

of

the

Trust’s

management.

Our

responsibility

is

to

express

an

opinion

on

the

Fund’s

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(“PCAOB”)

and

are

required

to

be

independent

with

respect

to

the

Trust

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

The

Trust

is

not

required

to

have,

nor

were

we

engaged

to

perform,

an

audit

of

the

Trust’s

internal

control

over

financial

reporting.

As

part

of

our

audits,

we

are

required

to

obtain

an

understanding

of

internal

control

over

financial

reporting

but

not

for

the

purpose

of

expressing

an

opinion

on

the

effectiveness

of

the

Trust’s

internal

control

over

financial

reporting.

Accordingly,

we

express

no

such

opinion.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

June

30,

2024,

by

correspondence

with

the

custodian,

brokers

and

others;

when

replies

were

not

received

from

brokers

and

others,

we

performed

other

auditing

procedures.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

BNY

Mellon

Family

of

Funds

since

at

least

1957,

but

we

are

unable

to

determine

the

specific

year.

New

York,

New

York

August

19,

2024

25

IMPORTANT

TAX

INFORMATION

(Unaudited)

Form

1099-DIV,

Form

1042-S

and

other

year–end

tax

information

provide

shareholders

with

actual

calendar

year

amounts

that

should

be

included

in

their

tax

returns.

Shareholders

should

consult

their

tax

advisers.

The

following

distribution

information

is

being

provided

as

required

by

the

Internal

Revenue

Code

or

to

meet

a

specific

state’s

requirement.

The

fund

designates

the

following

amounts

or,

if

subsequently

determined

to

be

different,

the

maximum

amount

allowable

for

its

fiscal

year

ended June

30,

2024:

For

federal

tax

purposes

the

fund

hereby

reports

63.41%

of

ordinary

income

dividends

paid

during

the

fiscal

year

ended

June

30,

2024 as

qualifying

interest

related

dividends.

26

BOARD

MEMBERS

INFORMATION

(Unaudited)

INDEPENDENT

BOARD

MEMBERS

J.

Charles

Cardona

(68)

Chairman

of

the

Board

(2020)

Principal

Occupation

During

Past

5

Years:

•

BNY Mellon

Family of Funds, 

Interested

Director 

(2014

–

2018), 

Independent Director 

(2019 – Present)

•

BNY

Mellon

Liquidity

Funds,

Director

(2004

–

Present)

and

Chairman

(2019

–

2021)

.

No.

of

Portfolios

for

which

Board

Member

Serves:

35,

including

22

managed

by

an

affiliate

of

the

Adviser

Kristen

M.

Dickey

(64)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Independent

board

director

of

Marstone,

Inc.,

a

financial

technology

company

(since

2018);

Lead

non-executive

director

for

Aperture

Investors,

LLC,

an

investment

management

firm

(since

2018);

Managing

Director—Global

Head

of

Index

Strategy

at

BlackRock,

Inc.

(until

2017)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

F.

Jack

Liebau,

Jr.

(60)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Managing

Director

at

Beach

Investment

Counsel,

a

financial

advisory

firm

(since

2020)

Corporate

director

(since

2015)

Other

Public

Company

Board

Memberships

During

Past

5

Years:

Myers

Industries,

an

industrial

company,

Director

(2015

–

Present);

Chairman

of

Board

(2016

–

Present)

STRATTEC

Security

Corp.,

an

automotive

power

and

security

solutions

company,

Director

(2023

–

Present);

Chairman

of

Board

(2024

–

Present)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Jill

I.

Mavro

(52)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Managing

director

at

Ecoban,

LLC,

a

financial

technology

consulting

company

(since

2020)

Founder

and

Principal

of

Spoondrift

Advisory,

LLC

(since

2018);

Senior

Managing

Director,

Head

of

Strategic

Relationships

and

Member

of

SPDR

Executive

Committee

at

State

Street

Global

Advisors

(until

2018)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Kevin

W.

Quinn

(65)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Partner

at

PricewaterhouseCoopers,

LLC

(until

2019)

No.

of

Portfolios

for

which

Board

Member

Serves:

13

Stacy

L.

Schaus

(64)

Board

Member

(2020)

Principal

Occupation

During

Past

5

Years:

Chief

Executive

Officer

of

the

Schaus

Group

LLC,

a

consulting

firm

(since

2019);

Advisory

board

member

of

A&P

Capital,

a

consulting

firm

(from

2019-2021);

Executive

Vice

President—Defined

Contribution

Practice

Founder

at

PIMCO

Investment

Management

(until

2018).

No.

of

Portfolios

for

which

Board

Member

Serves:

13

27

OFFICERS

OF

THE

TRUST

(Unaudited)

DAVID

DIPETRILLO,

President

since

February

2020.

Vice

President

and

Director

of

BNYM

Investment

Adviser

since

February

2021;

Head

of

North

America

Distribution,

BNY

Investments

since

February

2023;

and

Head

of

North

America

Product,

BNY

Investments

from

January

2018

to

February

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser. He

is

46

years

old

and

has

been

an

employee

of

BNY

since

2005. 

PETER

M.

SULLIVAN,

Chief

Legal

Officer

since

July

2021,

Vice

President

and

Assistant

Secretary

since

February

2020.

Chief

Legal

Officer

of

BNYM

Investment

Adviser

and

Associate

General

Counsel

of

BNY

since

July

2021;

Senior

Managing

Counsel

of

BNY

from

December

2020

to

July

2021;

and

Managing

Counsel

of

BNY

from

March

2009

to

December

2020.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

56

years

old

and

has

been

an

employee

of

BNY

since

April

2004.

JAMES

WINDELS,

Treasurer

since

February

2020.

Director

of

BNYM

Investment

Adviser

since

February

2023;

Vice

President

of

BNYM

Investment

Adviser

since

September

2020;

and

Director

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

65

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

April

1985.

SARAH

S.

KELLEHER,

Vice

President

and

Secretary

since

February

2020.

Vice

President

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

since

February

2020;

Senior

Managing

Counsel

of

BNY

since

September

2021;

and

Managing

Counsel

of

BNY

from

December

2017

to

September

2021. She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. She

is

48

years

old

and

has

been

an

employee

of

BNY

since

March

2013.

DEIRDRE

CUNNANE,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

since

December

2021;

and

Counsel

of

BNY

from

August

2018

to

December

2021;

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

34

years

old

and

has

been

an

employee

of

BNY

since

August

2013.

LISA

M.

KING,

Vice

President

and

Assistant

Secretary

since

May

2024.

Counsel

of

BNY

since

June

2023;

and

Regulatory

Administration

Group

Manager

at

BNY

Mellon

Asset

Servicing

from

February

2016

to

June

2023.

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser.

She

is

56

years

old

and

has

been

an

employee

of

BNY

since

February

2016.

JEFF

PRUSNOFSKY,

Vice

President

and

Assistant

Secretary

since

February

2020.

Senior

Managing

Counsel

of

BNY.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

59

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

October

1990.

AMANDA

QUINN,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

since

March

2024;

Counsel

of

BNY

from

June

2019

to

February

2024;

and

Regulatory

Administration

Manager

at

BNY

Investments

Services from

September

2018

to

May

2019.

She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

39

years

old

and

has

been

an

employee

of

BNY

since

June

2012.

JOANNE

SKERRETT,

Vice

President

and

Assistant

Secretary

since

March

2023.

Managing

Counsel

of

BNY

since

June

2022;

and

Senior

Counsel

with

the

Mutual

Fund

Directors

Forum,

a

leading

funds

industry

organization,

from

2016

to

June

2022. She

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

52

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

June

2022.

DANIEL

GOLDSTEIN,

Vice

President

since

March

2022

Head

of

Product

Development

of

North

America

Distribution,

BNY

Investments

since

January

2018;

Executive

Vice

President

of

North

America

Product,

BNY

Investments

since

April

2023;

and

Senior

Vice

President,

Development

&

Oversight

of

North

America

Product,

BNY

Investments

from

2010

to

March

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

55

years

old

and

has

been

an

employee

of

the

Distributor

since

1991.

JOSEPH

MARTELLA,

Vice

President

since

March

2022

Vice

President

of

BNYM

Investment

Adviser

since

December

2022;

Head

of

Product

Management

of

North

America

Distribution,

BNY

Investments

since

January

2018;

Executive

Vice

President

of

North

America

Product,

BNY

Investments

since

April

2023,

and

Senior

Vice

President

of

North

America

Product,

BNY

Investments

from

2010

to

March

2023.

He

is

an

officer

of

51

investment

companies

(comprised

of

96

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

47

years

old

and

has

been

an

employee

of

the

Distributor

since

1999.

ROBERTO

G.

MAZZEO,

Assistant

Treasurer

since

May

2024.

Financial

Reporting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

BNYM

Investment

Adviser

or

an

affiliate

of

BNYM

Investment

Adviser. He

is

43

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

October

2006.

GAVIN

C.

REILLY,

Assistant

Treasurer

since

February

2020.

Tax

Manager-BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. 

He

is

55

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

April

1991.

ROBERT

SALVIOLO,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

57

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

June

1989.

28

OFFICERS

OF

THE

TRUST

(Unaudited)

(continued)

ROBERT

SVAGNA,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration.

He

is

an

officer

of

52

investment

companies

(comprised

of

114

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser. He

is

57

years

old

and

has

been

an

employee

of

BNYM

Investment

Adviser

since

November

1990.

JOHN

SQUILLACE,

Chief

Compliance

Officer

since

May

2024.

Chief

Compliance

Officer

since

May

2024

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

and

BNY

Mellon

ETF

Trust;

Chief

Compliance

Officer

of

BNY

Mellon

Securities

Corporation’s

investment

advisory

business

since

January

2016;

and

Chief

Compliance

Officer

of

BNYMIA

since

July

2012.

He

is

an

officer

of

1

investment

company

(comprised

of

13

portfolios)

managed

by

BNY

Mellon

ETF

Investment

Adviser.

He

is

65

years

old

and

has

been

an

employee

of

BNY

Mellon

since

December

2010.

CARIDAD

M.

CAROSELLA,

Anti-Money

Laundering

Compliance

Officer

since

February

2020.

Anti-Money

Laundering

Compliance

Officer

of

the

BNY

Mellon

Family

of

Funds

and

BNY

Mellon

Funds

Trust.

She

is

an

officer

of

45

investment

companies

(comprised

of

107

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

55

years

old

and

has

been

an

employee

of

the

Distributor

since

1997.

29

Item

8.

Changes

in

and

Disagreements

with

Accountants

for

Open-End

Management

Investment

Companies

(Unaudited)

N/A

30

Item

9.

Proxy

Disclosures

for

Open-End

Management

Investment

Companies

(Unaudited)

N/A

31

Item

10.

Remuneration

Paid

to

Directors,

Officers,

and

Others

of

Open-End

Investment

Companies

(Unaudited)

Each

member

of

the

Board

serves

as

a

Board

member

of

each

fund

within

the

Registrant.

The

Board

members

are

not

compensated

directly

by

the

Registrant.

The

Board

members

are

paid

by

the

Adviser

from

the

unitary

management

fees

paid

to

the

Adviser

by

the

funds

within

the

Registrant.

32

Item

11.

Statement

Regarding

Basis

for

Approval

of

Investment

Advisory

Contracts

(Unaudited)

At

a

meeting

held

on

February

23,

2024

(the

“February

Meeting”)

and

a

meeting

held

on

May

7,

2024

(the

“May

Meeting,”

and

together

with

the

February

Meeting,

the

“Meetings”),

the

Board

of

Trustees

of

the

Trust

(the

“Board”),

all

the

members

of

which

are

not

“interested

persons”

of

the

Trust

as

defined

in

the

Investment

Company

Act

of

1940,

as

amended,

evaluated

(i)

proposals

to

continue

the

Management

Agreement

between

the

Trust

and

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”)

with

respect

to

the

BNY

Mellon

Responsible

Horizons

Corporate

Bond

ETF

(the

“fund”);

and

(ii)

proposals

to

continue

the

Sub-Investment

Advisory

Agreement

between

the

Adviser

and

Insight

North

America

LLC

(the

“Sub-Adviser”),

an

affiliate

of

the

Adviser,

on

behalf

of

the

fund

(each

of

the

Management

Agreement

and

the

Sub-Investment

Advisory

Agreement,

an

“Agreement,”

and

together,

the

“Agreements”).

At

each

Meeting,

the

Trustees

also

met

separately

to

consider

the

Agreements

and

were

advised

by

legal

counsel

throughout

the

process.

In

connection

with

each

Meeting,

to

evaluate

the

Agreements,

the

Board

requested,

and

the

Adviser

and

the

Sub-Adviser

provided,

such

materials

as

the

Board,

with

the

advice

of

counsel,

deemed

reasonably

necessary.

In

addition,

the

Board

considered

information

it

reviewed

at

other

Board

and

Board

committee

meetings.

In

deciding

whether

to

approve

the

Agreements,

the

Board

considered

various

factors,

including

the

(i)

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

Sub-Adviser

under

each

respective

Agreement,

(ii)

investment

performance

of

the

fund,

(iii)

profits

realized

by

the

Adviser

and

its

affiliates

from

its

relationship

with

the

fund,

(iv)

fees

charged

to

comparable

funds,

(v)

other

benefits

to

the

Adviser,

Sub-Adviser

and/or

their

affiliates,

and

(vi)

extent

to

which

economies

of

scale

would

be

shared

as

the

fund

grows.

The

Board

considered

the

Agreements

for

the

fund

and

the

engagement

of

the

Adviser

and

the

Sub-Adviser

separately.

The

Board

reviewed

reports

prepared

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data,

which

included

information

(i)

comparing

the

fund’s

performance

with

the

performance

of

a

group

of

other

actively-

managed

corporate

bond

exchange

traded

funds

(“ETFs”)

(the

“Performance

Group”)

and

with

a

broader

group

of

retail

and

institutional

corporate

bond

funds

and

ETFs

(the

“Performance

Universe”)

for

the

one-year

period

ended

December

31,

2023;

and

(ii)

comparing

the

fund’s

contractual

management

fees

and

total

expenses

with

a

group

of

other

actively-managed

corporate

bond

ETFs

(the

“Expense

Group”)

and,

with

respect

to

total

expenses,

with

a

broader

group

of

actively-managed

corporate

bond

ETFs

(the

“Expense

Universe”),

the

information

for

which

was

derived

in

part

from

fund

financial

statements

available

to

Broadridge

as

of

the

date

of

its

analysis.

In

addition,

at

the

May

Meeting,

the

Board

also

reviewed

reports

that

included

information

comparing

the

fund’s

performance

with

the

performance

of

its

benchmark

and

Performance

Universe

for

the

periods

ended

March

31,

2024.

Nature,

Extent

and

Quality

of

Services

The

Board

considered

the

nature,

extent

and

quality

of

services

provided

by

the

Adviser

and

the

Sub-Adviser.

In

doing

so,

the

Trustees

relied

on

their

prior

experience

in

overseeing

the

management

of

the

fund

and

the

materials

provided

prior

to

and

at

each

Meeting.

The

Board

reviewed

the

Agreements

and

the

Adviser’s

and

the

Sub-Adviser’s

responsibilities

for

managing

investment

operations

of

the

fund

in

accordance

with

the

fund’s

investment

objective

and

policies,

and

applicable

legal

and

regulatory

requirements.

The

Board

appreciated

the

nature

of

the

fund

as

an

exchange-traded

fund

and

considered

the

background

and

experience

of

the

Adviser’s

and

the

Sub-Adviser’s

senior

management,

including

those

individuals

responsible

for

portfolio

management

and

regulatory

compliance

of

the

funds.

The

Board

also

considered

the

portfolio

management

resources,

structures

and

practices

of

the

Adviser

and

the

Sub-Adviser,

including

those

associated

with

monitoring

and

ensuring

the

fund’s

compliance

with

its

investment

objective

and

policies

and

with

applicable

laws

and

regulations.

The

Board

further

considered

information

about

the

Sub-Adviser’s

best

execution

procedures

as

well

as

the

Adviser’s

and

the

Sub-Adviser’s

overall

investment

management

business.

The

Board

looked

at

the

Adviser’s

general

knowledge

of

the

investment

management

business

and

that

of

its

affiliates,

including

the

Sub-Adviser.

With

respect

to

the

Sub-Adviser,

the

Board

also

considered

the

Adviser’s

favorable

assessment

of

the

nature

and

quality

of

the

services

provided

by

the

Sub-Adviser.

Investment

Performance

The

Board

reviewed

the

results

of

the

fund’s

performance

comparisons

and

considered

that

the

fund’s

total

return

performance

was

above

the

Performance

Group

and

Performance

Universe

medians

for

the

one-year

period

ended

December

31,

2023.

At

the

May

Meeting,

the

Board

also

considered

that

the

fund’s

total

return

performance

was

above

the

benchmark

and

the

Performance

Universe

average

for

the

one-year

period

and

since

inception

(March

21,

2022)

period

ended

March

31,

2024.

Representatives

of

the

Adviser

indicated

that

the

usefulness

of

performance

comparisons

may

be

affected

by

a

number

of

factors,

including

different

investment

limitations

and

policies

that

may

be

applicable

to

the

fund

and

comparison

funds

and

the

end

date

selected.

Profits

Realized

by

the

Adviser

The

Board

considered

the

profitability

of

the

advisory

arrangement

with

the

fund

to

the

Adviser

and

its

affiliates.

The

Board

had

the

opportunity

to

discuss

with

representatives

of

the

Adviser

the

process

and

methodology

used

to

calculate

profitability.

33

Fees

Charged

to

Comparable

Funds

The

Board

evaluated

the

fund’s

unitary

fee

through

review

of

comparative

information

with

respect

to

fees

paid

by

similar

funds

-

i.e.,

other

actively-managed

corporate

bond

ETFs.

The

Board

explored

with

management

the

differences

between

the

fund’s

fee

and

fees

paid

by

similar

funds.

The

Board

noted

the

fund’s

contractual

management

fee

was

the

same

as

the

Expense

Group

median

and

the

fund’s

total

expenses

were

the

same

as

the

Expense

Group

median

and

the

Expense

Universe

median

total

expenses.

The

Board

considered

the

fee

paid

to

the

Sub-Adviser

in

relation

to

the

fee

paid

to

the

Adviser

by

the

fund

and

the

respective

services

provided

by

the

Sub-Adviser

and

the

Adviser.

The

Board

also

took

into

consideration

that

the

Sub-Adviser’s

fee

is

paid

by

the

Adviser

and

not

the

fund.

Other

Benefits

The

Board

also

considered

whether

the

Adviser,

the

Sub-Adviser

or

their

affiliates

benefited

in

other

ways

from

their

relationship

with

the

funds,

noting

that

neither

the

Adviser

nor

the

Sub-Adviser

maintains

soft-dollar

arrangements

in

connection

with

the

fund’s

brokerage

transactions.

The

Board

noted

The

Bank

of

New

York

Mellon

Corporation

may

derive

certain

benefits

from

an

incremental

growth

in

its

businesses

that

may

possibly

result

from

the

availability

of

the

fund

to

clients.

Economies

of

Scale

The

Board

reviewed

information

regarding

economies

of

scale

or

other

efficiencies

that

may

result

as

the

fund’s

assets

grow

in

size.

The

Board

noted

that

the

advisory

fee

rate

for

the

fund

did

not

provide

for

breakpoints

as

assets

of

the

fund

increases.

The

Adviser

asserted

that

one

of

the

benefits

of

the

unitary

fee

was

to

provide

an

unvarying

expense

structure,

which

could

be

lost

or

diluted

with

the

addition

of

breakpoints.

The

Board

noted

that

it

intends

to

continue

to

monitor

fees

as

the

fund

grows

in

size

and

assess

whether

fee

breakpoints

may

be

warranted.

Conclusion

After

weighing

the

foregoing

factors,

none

of

which

was

dispositive

in

itself

and

may

have

been

weighed

differently

by

each

Trustee,

the

Board

approved

the

continuation

of

the

Agreements

for

the

fund

at

each

Meeting.

In

approving

the

continuance

of

the

Agreements,

the

Board

found

that

the

terms

of

the

Agreements

are

fair

and

reasonable

and

that

the

continuance

of

the

Agreements

is

in

the

best

interests

of

the

fund

and

its

shareholders.

©

2024

BNY

Mellon

Securities

Corporation

Code-4863NCSRAR0624

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the Registrant’s Board, where those changes were implemented after the Registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

Item 16. Controls and Procedures.

(a)     The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b)     There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not Applicable.

Item 19. Exhibits.

(a)(1)     Code of ethics that is the subject of disclosure required by Item 2 of this Form N-CSR is attached hereto.

(a)(2)   Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(2)(1) Not applicable.

(a)(2)(2) Not applicable.

(b)       Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)                             BNY Mellon ETF Trust                                                         

By (Signature and Title) *      /s/ David J. DiPetrillo                                                 
                                                David J. DiPetrillo, President

                                                (Principal Executive Officer)

Date    08/26/2024                             

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title) *      /s/ David J. DiPetrillo                                                 
                                                David J. DiPetrillo, President

                                                (Principal Executive Officer)

Date    08/26/2024                             

By (Signature and Title) *      /s/ James Windels                                                                  
                                                James Windels, Treasurer

                                                (Principal Financial and Accounting Officer)

Date    08/26/2024                             

^* Print the name and title of each signing officer under his or her signature.