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 811-22736 

  

Columbia ETF Trust I 

  

(Exact name of registrant as specified in charter) 

  

290 Congress Street 

Boston, MA 02210 


(Address of principal executive offices) (Zip code) 

  

Daniel J. Beckman 

c/o Columbia Management Investment Advisers, LLC 

290 Congress Street 

Boston, MA 02210 

  

Ryan C. Larrenaga, Esq. 

c/o Columbia Management Investment Advisers, LLC 

290 Congress Street 

Boston, MA 02210 

  

(Name and address of agent for service) 

  

Registrant's telephone number, including area code: (800) 345-6611 

  

Date of fiscal year end:  Last Day of March 

  

Date of reporting period:  :  March 31, 2025 

  

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles. 

  

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507. 

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Item 1. Reports to Stockholders. 


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Columbia Short Duration High Yield ETF 

HYSD | NYSE Arca, Inc.

Image

Annual Shareholder Report | March 31, 2025

This annual shareholder report contains important information about Columbia Short Duration High Yield ETF (the Fund) for the period of September 5, 2024 to March 31, 2025.  You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request this information by contacting us at 1-800-426-3750.

What were the Fund costs for the reporting period?

(Based on a hypothetical $10,000 investment)

Fund
Cost of a $10,000 investment
Cost paid as a percentage of a $10,000 investment
Columbia Short Duration High Yield ETF
$25Footnote Reference(a)
0.44%Footnote Reference(a)Footnote Reference(b)
FootnoteDescription
Footnote(a)
Based on operations from September 5, 2024 (commencement of operations) through the stated period end. Had the Fund been open the entire reporting period, expenses shown in the table above would have been higher.
Footnote(b)
Annualized.

Management's Discussion of Fund Performance

The performance of the Fund for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

Allocation | Though performance was slightly negative relative to the benchmark for the period, some allocation effects remained positive. Allocations to the support-services industry had the largest impact on the Fund, with an overweight to a roofing company being most positive for portfolio returns. Also additive was an overall portfolio underweight to the energy sector. Within energy, a zero-weight allocation to a natural gas provider was most positive to portfolio performance. 

Credit | Active allocations to CCC and lower rated high-yield debt, as well as non-rated debt, were most positive to the overall performance of the Fund. 

Top Performance Detractors

Allocation | Portfolio performance was slightly negative relative to the benchmark for the period. Most negative to portfolio performance was an underweight allocation to the health care sector. Within health care, a zero-weight allocation to a pharmaceutical manufacturer detracted most from returns. Also contributing to negative portfolio performance was an underweight to the media industry, with security selection being most negative within an allocation to a local media company.

Credit | Portfolio allocations to BB-rated and B-rated debt, as well as cash and investment-grade bonds were negative for the portfolio for the period. 

 

Columbia Short Duration High Yield ETF | ASR338_00_(05/25) | 1

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in shares of Columbia Short Duration High Yield ETF during the stated time period.

Growth of $10,000

Growth of 10K Chart
Columbia Short Duration High Yield ETF—Net Asset Value (10,229)
ICE BofA 0-5 Year BB-B US High Yield Constrained Index (10,252)
Bloomberg U.S. Aggregate Bond Index (10,004)
09/05/24
10,000
10,000
10,000
3/25
10,229
10,252
10,004
Average Annual Total Return (%)
Since Fund Inception
Columbia Short Duration High Yield ETF—Net Asset Value
2.29
ICE BofA 0-5 Year BB-B US High Yield Constrained Index
2.52
Bloomberg U.S. Aggregate Bond Index
0.04

 

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/exchange-traded-funds/ for the most recent performance information. 

Key Fund Statistics

Fund net assets
$26,873,177
Total number of portfolio holdings
280
Investment management fees (represents 0.44% of Fund average net assets)
$65,992
Portfolio turnover for the reporting period
9%

Columbia Short Duration High Yield ETF | ASR338_00_(05/25) | 2

Graphical Representation of Fund Holdings 

The tables below show the investment makeup of the Fund represented as a percentage of the Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund’s portfolio composition is subject to change.

Top Holdings

Clearway Energy Operating LLC 03/15/2028 4.750%
1.3%
CCO Holdings LLC / CCO Holdings Capital Corp. 02/01/2028 5.000%
1.3%
Six Flags Entertainment Corp. 04/15/2027 5.500%
1.0%
Cloud Software Group, Inc. 03/31/2029 6.500%
1.0%
Trivium Packaging Finance BV 08/15/2026 5.500%
0.9%
TransDigm, Inc. 03/01/2029 6.375%
0.9%
GGAM Finance Ltd. 02/15/2027 8.000%
0.8%
NCR Atleos Corp. 04/01/2029 9.500%
0.8%
Hudbay Minerals, Inc. 04/01/2026 4.500%
0.8%
1011778 BC ULC / New Red Finance, Inc. 01/15/2028 4.375%
0.7%

Asset Allocation

Bar chart of the Fund's holdings as a percentage of net assets grouped by applicable category Ex: Asset Type, Sector, Country, or Credit Rating
Value
Value
Money Market Funds
0.8%
Corporate Bonds
97.6%

Credit Quality Allocation

Bar chart of the Fund's holdings as a percentage of net assets grouped by applicable category Ex: Asset Type, Sector, Country, or Credit Rating
Value
Value
CCC rating
4.5%
B rating
34.2%
BB rating
57.9%
BBB rating
1.0%

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody’s Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P and Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as “Not rated.” Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily. 

Columbia Short Duration High Yield ETF | ASR338_00_(05/25) | 3

Availability of Additional Information

For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.

Columbia Management Investment Advisers, LLC serves as the investment manager to the ETFs. ALPS Distributors, Inc. (Member FINRA) is the distributor for Columbia Threadneedle Investments ETFs. Columbia Management Investment Distributors, Inc., LLC (Member FINRA) is a marketing agent for the ETFs. ALPS Distributors, Inc. is not affiliated with Columbia Threadneedle Investments.

Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.

© 2025 Columbia Threadneedle. All rights reserved.

Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.columbiathreadneedleus.com/resources/literature

CET002442

Columbia Short Duration High Yield ETF | ASR338_00_(05/25) | 4

Columbia U.S. High Yield ETF 

NJNK | NYSE Arca, Inc.

Image

Annual Shareholder Report | March 31, 2025

This annual shareholder report contains important information about Columbia U.S. High Yield ETF (the Fund) for the period of September 5, 2024 to March 31, 2025.  You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request this information by contacting us at 1-800-426-3750.

What were the Fund costs for the reporting period?

(Based on a hypothetical $10,000 investment)

Fund
Cost of a $10,000 investment
Cost paid as a percentage of a $10,000 investment
Columbia U.S. High Yield ETF
$26Footnote Reference(a)
0.46%Footnote Reference(a)Footnote Reference(b)
FootnoteDescription
Footnote(a)
Based on operations from September 5, 2024 (commencement of operations) through the stated period end. Had the Fund been open the entire reporting period, expenses shown in the table above would have been higher.
Footnote(b)
Annualized.

Management's Discussion of Fund Performance

The performance of the Fund for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

Allocation | Though performance was negative relative to the benchmark for the period, certain sectors remained positive for performance. Most positive for Fund performance was an allocation to the retail sector. Within retail, the most positive contributor was a zero-weight allocation to a retail clothing line. Additional positive portfolio performance was attributed to an overweight allocation to the insurance sector. The best performing security in the sector was an overweight allocation to a property casualty insurer. 

Credit | Active allocations to investment-grade debt and non-rated debt were most additive to portfolio performance for the period. 

 

Top Performance Detractors

Allocation | Performance relative to the benchmark was negative for the period. The largest detractor of Fund performance was a portfolio underweight allocation to the media sector. Within media, the most negative performing security was a cable and satellite company. Additional negative performance was seen in the health care sector. An underweight allocation to a pharmaceutical manufacturer was most negative to overall portfolio performance. 

 

Credit | Portfolio allocations to CCC-rated and lower debt were most negative to portfolio performance. 

Columbia U.S. High Yield ETF | ASR339_00_(05/25) | 1

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in shares of Columbia U.S. High Yield ETF during the stated time period.

Growth of $10,000

Growth of 10K Chart
Columbia U.S. High Yield ETF—Net Asset Value (10,195)
Bloomberg U.S. Corporate High-Yield Index (10,281)
Bloomberg U.S. Aggregate Bond Index (10,004)
09/05/24
10,000
10,000
10,000
3/25
10,195
10,281
10,004
Average Annual Total Return (%)
Since Fund Inception
Columbia U.S. High Yield ETF—Net Asset Value
1.95
Bloomberg U.S. Corporate High-Yield Index
2.81
Bloomberg U.S. Aggregate Bond Index
0.04

 

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/exchange-traded-funds/ for the most recent performance information. 

Key Fund Statistics

Fund net assets
$25,709,378
Total number of portfolio holdings
439
Investment management fees (represents 0.46% of Fund average net assets)
$67,939
Portfolio turnover for the reporting period
12%

Columbia U.S. High Yield ETF | ASR339_00_(05/25) | 2

Graphical Representation of Fund Holdings 

The tables below show the investment makeup of the Fund represented as a percentage of the Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund’s portfolio composition is subject to change.

Top Holdings

CCO Holdings LLC / CCO Holdings Capital Corp. 02/01/2031 4.250%
0.7%
DISH Network Corp. 11/15/2027 11.750%
0.6%
Cloud Software Group, Inc. 09/30/2029 9.000%
0.6%
Cloud Software Group, Inc. 03/31/2029 6.500%
0.5%
CCO Holdings LLC / CCO Holdings Capital Corp. 05/01/2032 4.500%
0.5%
Echostar Corp. 11/30/2029 10.750%
0.5%
CCO Holdings LLC / CCO Holdings Capital Corp. 01/15/2034 4.250%
0.5%
Venture Global LNG, Inc. 02/01/2029 9.500%
0.4%
Venture Global LNG, Inc. 02/01/2032 9.875%
0.4%
Bombardier, Inc. 11/15/2030 8.750%
0.4%

Asset Allocation

Bar chart of the Fund's holdings as a percentage of net assets grouped by applicable category Ex: Asset Type, Sector, Country, or Credit Rating
Value
Value
Money Market Funds
1.2%
Corporate Bonds
97.1%

Credit Quality Allocation

Bar chart of the Fund's holdings as a percentage of net assets grouped by applicable category Ex: Asset Type, Sector, Country, or Credit Rating
Value
Value
CCC rating
8.0%
B rating
40.6%
BB rating
48.1%
BBB rating
0.4%

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody’s Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P and Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as “Not rated.” Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily. 

Columbia U.S. High Yield ETF | ASR339_00_(05/25) | 3

Availability of Additional Information

For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.

Columbia Management Investment Advisers, LLC serves as the investment manager to the ETFs. ALPS Distributors, Inc. (Member FINRA) is the distributor for Columbia Threadneedle Investments ETFs. Columbia Management Investment Distributors, Inc., LLC (Member FINRA) is a marketing agent for the ETFs. ALPS Distributors, Inc. is not affiliated with Columbia Threadneedle Investments.

Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.

© 2025 Columbia Threadneedle. All rights reserved.

Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.columbiathreadneedleus.com/resources/literature

CET002443

Columbia U.S. High Yield ETF | ASR339_00_(05/25) | 4


Item 2. Code of Ethics.

The registrant has adopted a code of ethics (the “Code”) 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. During the period covered by this report, there were not any amendments to a provision of the Code that relates to any element of the code of ethics definition enumerated in paragraph (b) of Item 2 of Form N-CSR. During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the Code that relates to one or more of the items set forth in paragraph (b) of Item 2 of Form N-CSR. A copy of the Code is attached hereto.

Item 3. Audit Committee Financial Expert.

The registrant’s Board of Trustees has determined that J. Kevin Connaughton, Brian J. Gallagher, Douglas A. Hacker, David M. Moffett and Sandra L. Yeager qualify as “audit committee financial experts,” as such term is defined in Form N- CSR. Mr. Connaughton, Mr. Gallagher, Mr. Hacker, Mr. Moffett and Ms. Yeager, are also each “independent” members of the Audit Committee pursuant to paragraph (a)(2) of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

The Registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. The following table details the aggregate fees billed or expected to be billed for each of the last two fiscal years for the series of the relevant registrant whose reports to shareholders are included in this annual filing.

 

 

 

Amount billed to the registrant’s

 

Amount billed to the registrant ($)

investment advisor ($)

 

March 31, 2025

March 31, 2024

March 31, 2025

March 31, 2024

 

Audit fees (a)

19,522

0

0

0

 

 

 

Audit-related feesb)

0

0

0

0

 

Tax fees (c)

6,900

0

0

0

 

All other fees (d)

0

0

0

0

 

Non-audit fees (g)

0

0

0

0

 

(a)Audit Fees include amounts related to 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.

(b)Audit-Related Fees include amounts for assurance and related services by the principal accountant that are

reasonably related to the performance of the audit of the registrant’s financial statements and are not reported in Audit Fees above.

(c)Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice, tax planning and foreign tax filings, if applicable.

(d)All Other Fees include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above and typically include SOC-1 reviews.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant’s Audit Committee is required to pre-approve the engagement of the registrant’s independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub- adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the “Adviser”) or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a “Control Affiliate”) if the engagement relates directly to the operations and financial reporting of the registrant.

The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the “Policy”). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant’s independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant (“Fund Services”); (ii) non-audit services to the registrant’s Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund (“Fund-related Adviser Services”); and (iii) certain other audit and non-audit services to the registrant’s Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund’s independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC’s rules are met.

Under the Policy, the Audit Committee may delegate pre-approval authority to any pre-designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre-approval decisions to the Audit Committee at its next regular meeting. The Audit Committee’s responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.

On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund’s Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre-approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre-approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.

The Fund’s Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre- approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.

(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).

(f)Not applicable.

(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 adviser that provides ongoing services to the registrant.

(h)The registrant’s Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant’s 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.

The Registrant is a listed issuer as defined in Section 10A-3 of the Securities Exchange Act of 1934 and has a separately-designated standing Audit Committee established in accordance with Section 3(a)(58)(A) of such Act. The members of such committee are J. Kevin Connaughton, Patricia M. Flynn, Brian J. Gallagher, Douglas A. Hacker, David M. Moffett and Sandra L. Yeager.

Item 6. Investments.

(a)The registrant’s “Schedule I – Investments in securities of unaffiliated issuers” (as set forth in 17 CFR 210.12-12) is included in Item 7 of this Form N-CSR.

(b)Not applicable.

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


Not
FDIC
or
NCUA
Insured
No
Financial
Institution
Guarantee
May
Lose
Value
Columbia
Short
Duration
High
Yield
ETF
Columbia
U.S.
High
Yield
ETF
Annual
Financial
Statements
and
Additional
Information
March
31,
2025
.
Active
ETFs
|
2025
TABLE
OF
CONTENTS
Portfolio
of
Investments
3
Statement
of
Assets
and
Liabilities
19
Statement
of
Operations
20
Statement
of
Changes
in
Net
Assets
21
Financial
Highlights
22
Notes
to
Financial
Statements
24
Report
of
Independent
Registered
Public
Accounting
Firm
32
PORTFOLIO
OF
INVESTMENTS
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
(Percentages
represent
value
of
investments
compared
to
net
assets)
Investments
in
Securities
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
3
Corporate
Bonds
  97.6%
Issue
Description
Principal
Amount
($)
Value
($)
Aerospace
&
Defense
2.1%
Axon
Enterprise,
Inc.
6.125%,
03/15/30
(a)
25,000‌
25,256‌
TransDigm
,
Inc.
4.625%,
01/15/29
75,000‌
71,305‌
4.875%,
05/01/29
34,000‌
32,272‌
5.500%,
11/15/27
50,000‌
49,435‌
6.375%,
03/01/29
(a)
248,000‌
250,652‌
6.750%,
08/15/28
(a)
130,000‌
131,972‌
Total
560,892‌
Airlines
2.4%
Air
Canada
3.875%,
08/15/26
(a)
200,000‌
195,791‌
American
Airlines,
Inc.
8.500%,
05/15/29
(a)
125,000‌
126,912‌
American
Airlines,
Inc./
AAdvantage
Loyalty
IP
Ltd.
5.500%,
04/20/26
(a)
41,250‌
41,129‌
5.750%,
04/20/29
(a)
75,000‌
73,369‌
United
Airlines,
Inc.
4.375%,
04/15/26
(a)
100,000‌
98,322‌
4.625%,
04/15/29
(a)
125,000‌
118,322‌
Total
653,845‌
Automotive
1.9%
Clarios
Global
LP
/
Clarios
US
Finance
Co.
6.750%,
05/15/28
(a)
125,000‌
126,793‌
6.750%,
02/15/30
(a)
26,000‌
26,266‌
IHO
Verwaltungs
GMBH
6.375%,
05/15/29
(a),(b)
131,000‌
127,395‌
ZF
North
America
Capital,
Inc.
4.750%,
04/29/25
(a)
90,000‌
89,925‌
6.875%,
04/14/28
(a)
150,000‌
147,413‌
Total
517,792‌
Brokerage/Asset
Managers/Exchanges
1.0%
AG
Issuer
LLC
6.250%,
03/01/28
(a)
142,000‌
139,676‌
AG
TTMT
Escrow
Issuer
LLC
8.625%,
09/30/27
(a)
78,000‌
79,955‌
Aretec
Group,
Inc.
7.500%,
04/01/29
(a)
40,000‌
39,170‌
Total
258,801‌
Building
Materials
3.5%
American
Builders
&
Contractors
Supply
Co.,
Inc.
3.875%,
11/15/29
(a)
75,000‌
68,785‌
4.000%,
01/15/28
(a)
75,000‌
71,725‌
Beacon
Roofing
Supply,
Inc.
4.125%,
05/15/29
(a)
96,000‌
96,673‌
4.500%,
11/15/26
(a)
125,000‌
124,885‌
Interface,
Inc.
5.500%,
12/01/28
(a)
91,000‌
88,624‌
James
Hardie
International
Finance
DAC
5.000%,
01/15/28
(a)
206,000‌
200,393‌
Standard
Industries,
Inc.
4.750%,
01/15/28
(a)
100,000‌
96,817‌
5.000%,
02/15/27
(a)
128,000‌
126,013‌
White
Cap
Buyer
LLC
6.875%,
10/15/28
(a)
79,000‌
75,892‌
Total
949,807‌
Cable
and
Satellite
4.7%
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
5.000%,
02/01/28
(a)
350,000‌
339,591‌
5.125%,
05/01/27
(a)
75,000‌
73,853‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
5.375%,
06/01/29
(a)
125,000‌
120,958‌
DISH
Network
Corp.
11.750%,
11/15/27
(a)
165,000‌
173,849‌
Echostar
Corp.
Series
.,
10.750%,
11/30/29
145,844‌
153,304‌
Sirius
XM
Radio,
Inc.
4.000%,
07/15/28
(a)
50,000‌
46,604‌
5.000%,
08/01/27
(a)
150,000‌
146,548‌
Virgin
Media
Secured
Finance
PLC
5.500%,
05/15/29
(a)
125,000‌
118,415‌
Ziggo
BV
4.875%,
01/15/30
(a)
84,000‌
76,934‌
Total
1,250,056‌
Chemicals
4.1%
Axalta
Coating
Systems
LLC
/
Axalta
Coating
Systems
Dutch
Holding
B
BV
4.750%,
06/15/27
(a)
75,000‌
73,708‌
Celanese
US
Holdings
LLC
6.500%,
04/15/30
53,000‌
52,627‌
Element
Solutions,
Inc.
3.875%,
09/01/28
(a)
100,000‌
94,176‌
HB
Fuller
Co.
4.250%,
10/15/28
75,000‌
71,140‌
INEOS
Finance
PLC
6.750%,
05/15/28
(a)
75,000‌
75,354‌
7.500%,
04/15/29
(a)
50,000‌
49,806‌
INEOS
Quattro
Finance
2
PLC
9.625%,
03/15/29
(a)
125,000‌
129,815‌
Ingevity
Corp.
3.875%,
11/01/28
(a)
72,000‌
67,219‌
Olympus
Water
US
Holding
Corp.
4.250%,
10/01/28
(a)
100,000‌
92,391‌
9.750%,
11/15/28
(a)
125,000‌
129,908‌
SNF
Group
SACA
3.125%,
03/15/27
(a)
75,000‌
71,483‌
WR
Grace
Holdings
LLC
4.875%,
06/15/27
(a)
125,000‌
121,042‌
5.625%,
08/15/29
(a)
75,000‌
64,542‌
Total
1,093,211‌
Construction
Machinery
1.8%
H&E
Equipment
Services,
Inc.
3.875%,
12/15/28
(a)
19,000‌
18,952‌
Herc
Holdings,
Inc.
5.500%,
07/15/27
(a)
175,000‌
174,372‌
6.625%,
06/15/29
(a)
104,000‌
104,418‌
RB
Global
Holdings,
Inc.
6.750%,
03/15/28
(a)
175,000‌
178,895‌
Total
476,637‌
Consumer
Cyclical
Services
2.3%
Allied
Universal
Holdco
LLC/Allied
Universal
Finance
Corp./Atlas
Luxco
4
Sarl
4.625%,
06/01/28
(a)
27,000‌
25,583‌
Arches
Buyer,
Inc.
4.250%,
06/01/28
(a)
175,000‌
159,769‌
ASGN,
Inc.
4.625%,
05/15/28
(a)
138,000‌
131,859‌
Match
Group
Holdings
II
LLC
4.625%,
06/01/28
(a)
205,000‌
196,732‌
Prime
Security
Services
Borrower
LLC
/
Prime
Finance,
Inc.
6.250%,
01/15/28
(a)
103,000‌
102,809‌
Total
616,752‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
4
Active
ETFs
|
2025
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Consumer
Products
1.5%
Acushnet
Co.
7.375%,
10/15/28
(a)
50,000‌
51,781‌
CD&R
Smokey
Buyer,
Inc.
/
Radio
Systems
Corp.
9.500%,
10/15/29
(a)
92,000‌
83,994‌
Newell
Brands,
Inc.
5.700%,
04/01/26
47,000‌
46,938‌
6.375%,
09/15/27
75,000‌
75,466‌
Prestige
Brands,
Inc.
5.125%,
01/15/28
(a)
100,000‌
98,215‌
Scotts
Miracle-
Gro
Co.
(The)
5.250%,
12/15/26
50,000‌
49,677‌
Total
406,071‌
Diversified
Manufacturing
2.8%
BWX
Technologies,
Inc.
4.125%,
06/30/28
(a)
28,000‌
26,443‌
Esab
Corp.
6.250%,
04/15/29
(a)
50,000‌
50,751‌
Gates
Corp.
6.875%,
07/01/29
(a)
122,000‌
124,197‌
Madison
IAQ
LLC
5.875%,
06/30/29
(a)
50,000‌
47,233‌
Resideo
Funding,
Inc.
4.000%,
09/01/29
(a)
75,000‌
68,466‌
TK
Elevator
Holdco
GmbH
7.625%,
07/15/28
(a)
50,000‌
50,075‌
TK
Elevator
US
Newco
,
Inc.
5.250%,
07/15/27
(a)
125,000‌
122,819‌
Velocity
Vehicle
Group
LLC
8.000%,
06/01/29
(a)
50,000‌
51,378‌
WESCO
Distribution,
Inc.
6.375%,
03/15/29
(a)
179,000‌
181,235‌
7.250%,
06/15/28
(a)
39,000‌
39,501‌
Total
762,098‌
Electric
5.7%
Atlantica
Sustainable
Infrastructure
PLC
4.125%,
06/15/28
(a)
90,000‌
84,596‌
Clearway
Energy
Operating
LLC
4.750%,
03/15/28
(a)
354,000‌
343,013‌
NRG
Energy,
Inc.
3.375%,
02/15/29
(a)
75,000‌
68,918‌
5.750%,
01/15/28
125,000‌
124,860‌
Pattern
Energy
Operations
LP
/
Pattern
Energy
Operations,
Inc.
4.500%,
08/15/28
(a)
50,000‌
46,476‌
TerraForm
Power
Operating
LLC
4.750%,
01/15/30
(a)
56,000‌
51,986‌
5.000%,
01/31/28
(a)
150,000‌
145,124‌
Vistra
Operations
Co.
LLC
5.000%,
07/31/27
(a)
175,000‌
172,521‌
5.625%,
02/15/27
(a)
125,000‌
124,585‌
XPLR
Infrastructure
Operating
Partners
LP
3.875%,
10/15/26
(a)
125,000‌
120,319‌
4.500%,
09/15/27
(a)
75,000‌
69,875‌
7.250%,
01/15/29
(a)
195,000‌
192,209‌
Total
1,544,482‌
Finance
Companies
5.5%
GGAM
Finance
Ltd.
6.875%,
04/15/29
(a)
115,000‌
116,750‌
8.000%,
02/15/27
(a)
207,000‌
212,153‌
8.000%,
06/15/28
(a)
25,000‌
26,286‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Navient
Corp.
6.750%,
06/25/25
116,000‌
116,137‌
6.750%,
06/15/26
50,000‌
50,351‌
OneMain
Finance
Corp.
3.500%,
01/15/27
50,000‌
47,924‌
3.875%,
09/15/28
90,000‌
83,427‌
6.625%,
05/15/29
202,000‌
202,643‌
Provident
Funding
Associates
LP
/
PFG
Finance
Corp.
9.750%,
09/15/29
(a)
79,000‌
80,939‌
Rocket
Mortgage
LLC
/
Rocket
Mortgage
Co.-Issuer,
Inc.
2.875%,
10/15/26
(a)
200,000‌
191,995‌
3.625%,
03/01/29
(a)
75,000‌
69,179‌
United
Wholesale
Mortgage
LLC
5.500%,
11/15/25
(a)
25,000‌
24,930‌
5.500%,
04/15/29
(a)
41,000‌
39,515‌
5.750%,
06/15/27
(a)
150,000‌
147,494‌
UWM
Holdings
LLC
6.625%,
02/01/30
(a)
80,000‌
79,243‌
Total
1,488,966‌
Food
and
Beverage
2.0%
Darling
Ingredients,
Inc.
5.250%,
04/15/27
(a)
126,000‌
124,641‌
Post
Holdings,
Inc.
5.500%,
12/15/29
(a)
82,000‌
79,812‌
Primo
Water
Holdings,
Inc.
/
Triton
Water
Holdings,
Inc.
4.375%,
04/30/29
(a)
55,000‌
52,588‌
6.250%,
04/01/29
(a)
131,000‌
130,686‌
US
Foods,
Inc.
4.750%,
02/15/29
(a)
50,000‌
48,238‌
6.875%,
09/15/28
(a)
100,000‌
102,762‌
Total
538,727‌
Foreign
Government
Obligations
1.0%
NOVA
Chemicals
Corp.
4.250%,
05/15/29
(a)
75,000‌
71,664‌
5.250%,
06/01/27
(a)
50,000‌
49,746‌
8.500%,
11/15/28
(a)
150,000‌
158,431‌
Total
279,841‌
Gaming
1.8%
Caesars
Entertainment,
Inc.
4.625%,
10/15/29
(a)
110,000‌
101,057‌
7.000%,
02/15/30
(a)
50,000‌
50,619‌
Churchill
Downs,
Inc.
5.500%,
04/01/27
(a)
125,000‌
123,991‌
Light
&
Wonder
International,
Inc.
7.000%,
05/15/28
(a)
131,000‌
131,003‌
Penn
Entertainment,
Inc.
4.125%,
07/01/29
(a)
45,000‌
39,955‌
Scientific
Games
Holdings
LP/Scientific
Games
US
Finco
,
Inc.
6.625%,
03/01/30
(a)
27,000‌
25,458‌
Total
472,083‌
Health
Care
5.5%
Acadia
Healthcare
Co.,
Inc.
5.000%,
04/15/29
(a)
107,000‌
101,212‌
5.500%,
07/01/28
(a)
109,000‌
106,196‌
Avantor
Funding,
Inc.
4.625%,
07/15/28
(a)
125,000‌
120,710‌
Bausch
+
Lomb
Corp.
8.375%,
10/01/28
(a)
50,000‌
51,795‌
Charles
River
Laboratories
International,
Inc.
4.250%,
05/01/28
(a)
75,000‌
71,719‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
5
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
CHS/Community
Health
Systems,
Inc.
5.625%,
03/15/27
(a)
150,000‌
143,302‌
IQVIA,
Inc.
5.000%,
10/15/26
(a)
100,000‌
99,274‌
Medline
Borrower
LP
3.875%,
04/01/29
(a)
125,000‌
116,808‌
5.250%,
10/01/29
(a)
166,000‌
159,309‌
Medline
Borrower
LP/Medline
Co.-Issuer,
Inc.
6.250%,
04/01/29
(a)
125,000‌
126,664‌
Teleflex,
Inc.
4.625%,
11/15/27
25,000‌
24,327‌
Tenet
Healthcare
Corp.
4.625%,
06/15/28
50,000‌
48,237‌
5.125%,
11/01/27
175,000‌
172,418‌
6.125%,
10/01/28
125,000‌
124,406‌
Total
1,466,377‌
Home
Construction
0.4%
Taylor
Morrison
Communities,
Inc.
5.750%,
01/15/28
(a)
100,000‌
99,764‌
Independent
Energy
3.6%
Civitas
Resources,
Inc.
8.375%,
07/01/28
(a)
132,000‌
136,362‌
CNX
Resources
Corp.
6.000%,
01/15/29
(a)
66,000‌
65,081‌
Expand
Energy
Corp.
5.375%,
02/01/29
50,000‌
49,821‌
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co.
5.750%,
02/01/29
(a)
110,000‌
106,397‌
6.250%,
11/01/28
(a)
150,000‌
149,689‌
Matador
Resources
Co.
6.875%,
04/15/28
(a)
155,000‌
156,691‌
Permian
Resources
Operating
LLC
5.375%,
01/15/26
(a)
26,000‌
25,893‌
5.875%,
07/01/29
(a)
41,000‌
40,497‌
8.000%,
04/15/27
(a)
125,000‌
127,314‌
SM
Energy
Co.
6.750%,
08/01/29
(a)
125,000‌
123,263‌
Total
981,008‌
Leisure
7.6%
Boyne
USA,
Inc.
4.750%,
05/15/29
(a)
140,000‌
131,931‌
Carnival
Corp.
5.750%,
03/01/27
(a)
200,000‌
200,100‌
5.750%,
03/15/30
(a)
32,000‌
31,869‌
6.000%,
05/01/29
(a)
175,000‌
173,829‌
7.625%,
03/01/26
(a)
30,000‌
30,004‌
Cinemark
USA,
Inc.
5.250%,
07/15/28
(a)
195,000‌
189,314‌
Live
Nation
Entertainment,
Inc.
4.750%,
10/15/27
(a)
80,000‌
78,056‌
5.625%,
03/15/26
(a)
18,000‌
17,969‌
NCL
Corp.
Ltd.
5.875%,
03/15/26
(a)
19,000‌
18,957‌
5.875%,
02/15/27
(a)
100,000‌
99,794‌
Royal
Caribbean
Cruises
Ltd.
4.250%,
07/01/26
(a)
100,000‌
98,466‌
5.500%,
04/01/28
(a)
100,000‌
99,570‌
5.500%,
08/31/26
(a)
100,000‌
99,970‌
Six
Flags
Entertainment
Corp.
5.500%,
04/15/27
(a)
275,000‌
271,381‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Six
Flags
Entertainment
Corp.
/
Canada's
Wonderland
Co.
/
Magnum
Management
Corp.
5.375%,
04/15/27
125,000‌
123,273‌
6.500%,
10/01/28
100,000‌
100,410‌
Viking
Cruises
Ltd.
5.875%,
09/15/27
(a)
130,000‌
129,307‌
7.000%,
02/15/29
(a)
154,000‌
154,515‌
Total
2,048,715‌
Lodging
0.8%
Hilton
Grand
Vacations
Borrower
LLC
/
Hilton
Grand
Vacations
Borrower,
Inc.
5.000%,
06/01/29
(a)
70,000‌
65,441‌
Marriott
Ownership
Resorts,
Inc.
4.500%,
06/15/29
(a)
50,000‌
45,834‌
4.750%,
01/15/28
100,000‌
95,213‌
Total
206,488‌
Media
and
Entertainment
1.7%
Clear
Channel
Outdoor
Holdings,
Inc.
5.125%,
08/15/27
(a)
75,000‌
72,583‌
9.000%,
09/15/28
(a)
125,000‌
128,642‌
McGraw-Hill
Education,
Inc.
5.750%,
08/01/28
(a)
29,000‌
28,309‌
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.
4.250%,
01/15/29
(a)
62,000‌
57,430‌
5.000%,
08/15/27
(a)
90,000‌
88,228‌
Univision
Communications,
Inc.
6.625%,
06/01/27
(a)
50,000‌
49,542‌
8.000%,
08/15/28
(a)
25,000‌
25,107‌
Total
449,841‌
Metals
and
Mining
2.5%
Constellium
SE
3.750%,
04/15/29
(a)
75,000‌
68,079‌
5.625%,
06/15/28
(a)
125,000‌
121,221‌
Hudbay
Minerals,
Inc.
4.500%,
04/01/26
(a)
209,000‌
205,800‌
6.125%,
04/01/29
(a)
50,000‌
49,838‌
Kaiser
Aluminum
Corp.
4.625%,
03/01/28
(a)
96,000‌
91,110‌
Novelis
Corp.
3.250%,
11/15/26
(a)
50,000‌
48,398‌
4.750%,
01/30/30
(a)
75,000‌
69,772‌
Novelis
,
Inc.
6.875%,
01/30/30
(a)
20,000‌
20,235‌
Total
674,453‌
Midstream
5.5%
Antero
Midstream
Partners
LP
/
Antero
Midstream
Finance
Corp.
5.375%,
06/15/29
(a)
50,000‌
48,916‌
5.750%,
01/15/28
(a)
50,000‌
49,748‌
5.750%,
03/01/27
(a)
100,000‌
99,589‌
CNX
Midstream
Partners
LP
4.750%,
04/15/30
(a)
30,000‌
27,993‌
Delek
Logistics
Partners
LP
/
Delek
Logistics
Finance
Corp.
8.625%,
03/15/29
(a)
162,000‌
167,760‌
DT
Midstream,
Inc.
4.125%,
06/15/29
(a)
50,000‌
47,081‌
EQM
Midstream
Partners
LP
4.500%,
01/15/29
(a)
70,000‌
67,874‌
6.375%,
04/01/29
(a)
25,000‌
25,509‌
7.500%,
06/01/27
(a)
50,000‌
51,122‌
Hess
Midstream
Operations
LP
5.875%,
03/01/28
(a)
19,000‌
19,104‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
6
Active
ETFs
|
2025
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
6.500%,
06/01/29
(a)
26,000‌
26,507‌
NuStar
Logistics
LP
5.625%,
04/28/27
50,000‌
49,725‌
6.000%,
06/01/26
25,000‌
25,062‌
Rockies
Express
Pipeline
LLC
4.950%,
07/15/29
(a)
70,000‌
66,997‌
Sunoco
LP
7.000%,
05/01/29
(a)
154,000‌
157,655‌
Sunoco
LP
/
Sunoco
Finance
Corp.
6.000%,
04/15/27
25,000‌
24,936‌
7.000%,
09/15/28
(a)
99,000‌
101,274‌
TransMontaigne
Partners
LLC
8.500%,
06/15/30
(a)
51,000‌
51,412‌
Venture
Global
Calcasieu
Pass
LLC
3.875%,
08/15/29
(a)
75,000‌
69,485‌
6.250%,
01/15/30
(a)
34,000‌
34,448‌
Venture
Global
LNG,
Inc.
7.000%,
01/15/30
(a)
15,000‌
14,781‌
8.125%,
06/01/28
(a)
134,000‌
136,867‌
9.500%,
02/01/29
(a)
100,000‌
107,224‌
Total
1,471,069‌
Oil
Field
Services
1.6%
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp.
6.250%,
04/01/28
(a)
75,000‌
75,025‌
Kodiak
Gas
Services
LLC
7.250%,
02/15/29
(a)
126,000‌
128,571‌
Nabors
Industries,
Inc.
7.375%,
05/15/27
(a)
75,000‌
73,996‌
Transocean
Titan
Financing
Ltd.
8.375%,
02/01/28
(a)
45,238‌
46,231‌
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp.
6.875%,
09/01/27
100,000‌
100,083‌
Total
423,906‌
Other
Industry
1.0%
Williams
Scotsman,
Inc.
4.625%,
08/15/28
(a)
163,000‌
157,979‌
6.625%,
04/15/30
(a)
56,000‌
56,589‌
6.625%,
06/15/29
(a)
50,000‌
50,575‌
Total
265,143‌
Other
REIT
2.1%
Ladder
Capital
Finance
Holdings
LLLP
/
Ladder
Capital
Finance
Corp.
4.250%,
02/01/27
(a)
125,000‌
121,692‌
4.750%,
06/15/29
(a)
50,000‌
47,650‌
5.250%,
10/01/25
(a)
91,000‌
90,736‌
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co.-Issuer
5.875%,
10/01/28
(a)
195,000‌
190,417‌
RHP
Hotel
Properties
LP
/
RHP
Finance
Corp.
7.250%,
07/15/28
(a)
100,000‌
102,495‌
Total
552,990‌
Packaging
2.9%
Ardagh
Metal
Packaging
Finance
USA
LLC
/
Ardagh
Metal
Packaging
Finance
PLC
3.250%,
09/01/28
(a)
75,000‌
67,218‌
4.000%,
09/01/29
(a)
60,000‌
51,128‌
6.000%,
06/15/27
(a)
125,000‌
123,315‌
Berry
Global,
Inc.
4.500%,
02/15/26
(a)
50,000‌
49,701‌
Clydesdale
Acquisition
Holdings,
Inc.
6.625%,
04/15/29
(a)
65,000‌
65,361‌
8.750%,
04/15/30
(a)
34,000‌
34,496‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Sealed
Air
Corp.
4.000%,
12/01/27
(a)
50,000‌
48,126‌
5.000%,
04/15/29
(a)
38,000‌
36,901‌
Sealed
Air
Corp./Sealed
Air
Corp.
US
6.125%,
02/01/28
(a)
50,000‌
50,014‌
Trivium
Packaging
Finance
BV
5.500%,
08/15/26
(a)
255,000‌
251,175‌
Total
777,435‌
Pharmaceuticals
0.2%
Organon
&
Co.
/
Organon
Foreign
Debt
Co.-Issuer
BV
4.125%,
04/30/28
(a)
50,000‌
46,731‌
Property
&
Casualty
2.5%
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co.-Issuer
4.250%,
10/15/27
(a)
50,000‌
48,261‌
6.750%,
10/15/27
(a)
100,000‌
99,691‌
6.750%,
04/15/28
(a)
201,000‌
201,835‌
AmWINS
Group,
Inc.
6.375%,
02/15/29
(a)
125,000‌
125,958‌
AssuredPartners
,
Inc.
5.625%,
01/15/29
(a)
61,000‌
60,866‌
BroadStreet
Partners,
Inc.
5.875%,
04/15/29
(a)
54,000‌
51,771‌
HUB
International
Ltd.
5.625%,
12/01/29
(a)
100,000‌
96,641‌
Total
685,023‌
Restaurants
1.2%
1011778
BC
ULC
/
New
Red
Finance,
Inc.
4.375%,
01/15/28
(a)
213,000‌
204,296‌
6.125%,
06/15/29
(a)
125,000‌
126,012‌
Total
330,308‌
Retailers
3.1%
Asbury
Automotive
Group,
Inc.
4.500%,
03/01/28
125,000‌
120,305‌
Bath
&
Body
Works,
Inc.
5.250%,
02/01/28
50,000‌
49,372‌
Belron
UK
Finance
PLC
5.750%,
10/15/29
(a)
25,000‌
24,827‌
Group
1
Automotive,
Inc.
4.000%,
08/15/28
(a)
100,000‌
94,071‌
6.375%,
01/15/30
(a)
64,000‌
64,212‌
LCM
Investments
Holdings
II
LLC
4.875%,
05/01/29
(a)
97,000‌
90,973‌
Lithia
Motors,
Inc.
3.875%,
06/01/29
(a)
72,000‌
66,059‌
4.625%,
12/15/27
(a)
75,000‌
72,704‌
PetSmart,
Inc.
/
PetSmart
Finance
Corp.
4.750%,
02/15/28
(a)
125,000‌
116,946‌
7.750%,
02/15/29
(a)
100,000‌
91,895‌
Wolverine
World
Wide,
Inc.
4.000%,
08/15/29
(a)
37,000‌
31,292‌
Total
822,656‌
Technology
10.1%
Block,
Inc.
2.750%,
06/01/26
50,000‌
48,505‌
Camelot
Finance
SA
4.500%,
11/01/26
(a)
150,000‌
147,329‌
Central
Parent
LLC
/
CDK
Global
II
LLC
/
CDK
Financing
Co.,
Inc.
8.000%,
06/15/29
(a)
66,000‌
57,918‌
Central
Parent,
Inc.
/
CDK
Global,
Inc.
7.250%,
06/15/29
(a)
96,000‌
83,253‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
7
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Clarivate
Science
Holdings
Corp.
4.875%,
07/01/29
(a)
90,000‌
80,308‌
Cloud
Software
Group,
Inc.
6.500%,
03/31/29
(a)
275,000‌
267,358‌
9.000%,
09/30/29
(a)
76,000‌
75,783‌
Ellucian
Holdings,
Inc.
6.500%,
12/01/29
(a)
27,000‌
26,629‌
Entegris
,
Inc.
3.625%,
05/01/29
(a)
75,000‌
68,998‌
4.375%,
04/15/28
(a)
125,000‌
119,884‌
Gen
Digital,
Inc.
6.750%,
09/30/27
(a)
75,000‌
75,956‌
HealthEquity
,
Inc.
4.500%,
10/01/29
(a)
50,000‌
46,860‌
Helios
Software
Holdings,
Inc.
/
ION
Corporate
Solutions
Finance
Sarl
4.625%,
05/01/28
(a)
100,000‌
90,072‌
ION
Trading
Technologies
Sarl
5.750%,
05/15/28
(a)
82,000‌
76,312‌
Iron
Mountain,
Inc.
4.875%,
09/15/27
(a)
125,000‌
122,492‌
5.000%,
07/15/28
(a)
25,000‌
24,249‌
5.250%,
03/15/28
(a)
125,000‌
122,243‌
7.000%,
02/15/29
(a)
125,000‌
127,869‌
NCR
Atleos
Corp.
9.500%,
04/01/29
(a)
191,000‌
207,068‌
NCR
Voyix
Corp.
5.000%,
10/01/28
(a)
165,000‌
158,743‌
5.125%,
04/15/29
(a)
98,000‌
93,323‌
Neptune
Bidco
US,
Inc.
9.290%,
04/15/29
(a)
50,000‌
43,368‌
Open
Text
Corp.
3.875%,
02/15/28
(a)
75,000‌
70,768‌
Sensata
Technologies
BV
4.000%,
04/15/29
(a)
58,000‌
53,293‌
Shift4
Payments
LLC
/
Shift4
Payments
Finance
Sub,
Inc.
4.625%,
11/01/26
(a)
133,000‌
131,076‌
SS&C
Technologies,
Inc.
5.500%,
09/30/27
(a)
90,000‌
89,324‌
Synaptics
,
Inc.
4.000%,
06/15/29
(a)
58,000‌
53,179‌
ZoomInfo
Technologies
LLC/
ZoomInfo
Finance
Corp.
3.875%,
02/01/29
(a)
167,000‌
153,254‌
Total
2,715,414‌
Transportation
Services
0.5%
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.
4.750%,
04/01/28
(a)
25,000‌
22,892‌
5.375%,
03/01/29
(a)
50,000‌
45,006‌
5.750%,
07/15/27
(a)
80,000‌
77,266‌
Total
145,164‌
Wirelines
0.7%
Frontier
Communications
Holdings
LLC
5.875%,
10/15/27
(a)
100,000‌
100,013‌
Iliad
Holding
SASU
7.000%,
10/15/28
(a)
100,000‌
101,234‌
Total
201,247‌
Total
Corporate
Bonds
(Cost
$26,506,533)
26,233,793‌
Money
Market
Funds
0.8%
Shares
Value
($)
Dreyfus
Treasury
Securities
Cash
Management,
Institutional
Shares
4.174%
(c)
219,494‌
219,494‌
Total
Money
Market
Funds
(Cost
$219,494)
219,494‌
Total
Investments
in
Securities
(Cost
$26,726,027)
26,453,287‌
Other
Assets
&
Liabilities,
Net
419,890‌
Net
Assets
26,873,177‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
8
Active
ETFs
|
2025
Notes
to
Portfolio
of
Investments
(a)
Represents
privately
placed
and
other
securities
and
instruments
exempt
from
Securities
and
Exchange
Commission
registration
(collectively,
private
placements),
such
as
Section
4(a)(2)
and
Rule
144A
eligible
securities,
which
are
often
sold
only
to
qualified
institutional
buyers.
At
March
31,
2025,
the
total
value
of
these
securities
amounted
to
$23,850,194,
which
represents
88.75%
of
total
net
assets.
(b)
Payment-in-kind
security.
Interest
can
be
paid
by
issuing
additional
par
of
the
security
or
in
cash.
(c)
The
rate
shown
is
the
seven-day
current
annualized
yield
at
March
31,
2025.
Fair
Value
Measurements
The
Fund
categorizes
its
fair
value
measurements
according
to
a
three-level
hierarchy
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
prioritizing
that
the
most
observable
input
be
used
when
available.
Observable
inputs
are
those
that
market
participants
would
use
in
pricing
an
investment
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
are
those
that
reflect
the
Fund’s
assumptions
about
the
information
market
participants
would
use
in
pricing
an
investment.
An
investment’s
level
within
the
fair
value
hierarchy
is
based
on
the
lowest
level
of
any
input
that
is
deemed
significant
to
the
asset's
or
liability’s
fair
value
measurement.
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
investments
at
that
level.
For
example,
certain
U.S.
government
securities
are
generally
high
quality
and
liquid,
however,
they
are
reflected
as
Level
2
because
the
inputs
used
to
determine
fair
value
may
not
always
be
quoted
prices
in
an
active
market.
Fair
value
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
—
Valuations
based
on
quoted
prices
for
investments
in
active
markets
that
the
Fund
has
the
ability
to
access
at
the
measurement
date.
Valuation
adjustments
are
not
applied
to
Level
1
investments.
Level
2
—
Valuations
based
on
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risks,
etc.).
Level
3
—
Valuations
based
on
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
and
judgment
in
determining
the
fair
value
of
investments).
Inputs
that
are
used
in
determining
fair
value
of
an
investment
may
include
price
information,
credit
data,
volatility
statistics,
and
other
factors.
These
inputs
can
be
either
observable
or
unobservable.
The
availability
of
observable
inputs
can
vary
between
investments,
and
is
affected
by
various
factors
such
as
the
type
of
investment,
and
the
volume
and
level
of
activity
for
that
investment
or
similar
investments
in
the
marketplace.
The
inputs
will
be
considered
by
the
Investment
Manager,
along
with
any
other
relevant
factors
in
the
calculation
of
an
investment’s
fair
value.
The
Fund
uses
prices
and
inputs
that
are
current
as
of
the
measurement
date,
which
may
include
periods
of
market
dislocations.
During
these
periods,
the
availability
of
prices
and
inputs
may
be
reduced
for
many
investments.
This
condition
could
cause
an
investment
to
be
reclassified
between
the
various
levels
within
the
hierarchy.
Investments
falling
into
the
Level
3
category,
if
any,
are
primarily
supported
by
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
those
investments.
However,
these
may
be
classified
as
Level
3
investments
due
to
lack
of
market
transparency
and
corroboration
to
support
these
quoted
prices.
Additionally,
valuation
models
may
be
used
as
the
pricing
source
for
any
remaining
investments
classified
as
Level
3.
These
models
may
rely
on
one
or
more
significant
unobservable
inputs
and/or
significant
assumptions
by
the
Investment
Manager.
Inputs
used
in
valuations
may
include,
but
are
not
limited
to,
financial
statement
analysis,
capital
account
balances,
discount
rates
and
estimated
cash
flows,
and
comparable
company
data.
The
Fund's
Board
of
Trustees
(the
Board)
has
designated
the
Investment
Manager,
through
its
Valuation
Committee
(the
Committee),
as
valuation
designee,
responsible
for
determining
the
fair
value
of
the
assets
of
the
Fund
for
which
market
quotations
are
not
readily
available
using
valuation
procedures
approved
by
the
Board.
The
Committee
consists
of
voting
and
non-voting
members
from
various
groups
within
the
Investment
Manager's
organization,
including
operations
and
accounting,
trading
and
investments,
compliance,
risk
management
and
legal.
The
Committee
meets
at
least
monthly
to
review
and
approve
valuation
matters,
which
may
include
a
description
of
specific
valuation
determinations,
data
regarding
pricing
information
received
from
approved
pricing
vendors
and
brokers
and
the
results
of
Board-approved
valuation
policies
and
procedures
(the
Policies).
The
Policies
address,
among
other
things,
instances
when
market
quotations
are
or
are
not
readily
available,
including
recommendations
of
third
party
pricing
vendors
and
a
determination
of
appropriate
pricing
methodologies;
events
that
require
specific
valuation
determinations
and
assessment
of
fair
value
techniques;
securities
with
a
potential
for
stale
pricing,
including
those
that
are
illiquid,
restricted,
or
in
default;
and
the
effectiveness
of
third-party
pricing
vendors,
including
periodic
reviews
of
vendors.
The
Committee
meets
more
frequently,
as
needed,
to
discuss
additional
valuation
matters,
which
may
include
the
need
to
review
back-testing
results,
review
time-
sensitive
information
or
approve
related
valuation
actions.
Representatives
of
Columbia
Management
Investment
Advisers,
LLC
report
to
the
Board
at
each
of
its
regularly
scheduled
meetings
to
discuss
valuation
matters
and
actions
during
the
period,
similar
to
those
described
earlier.
The
following
table
is
a
summary
of
the
inputs
used
to
value
the
Fund’s
investments
at
March
31,
2025:
Level
1
($)
Level
2
($)
Level
3
($)
Total
($)
Investments
in
Securities
Corporate
Bonds
–‌
26,233,793‌
–‌
26,233,793‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Short
Duration
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
9
Fair
Value
Measurements
(continued)
Level
1
($)
Level
2
($)
Level
3
($)
Total
($)
Money
Market
Funds
219,494‌
–‌
–‌
219,494‌
Total
Investments
in
Securities
219,494‌
26,233,793‌
–‌
26,453,287‌
See
the
Portfolio
of
Investments
for
all
investment
classifications
not
indicated
in
the
table.
The
Fund’s
assets
assigned
to
the
Level
2
input
category
are
generally
valued
using
the
market
approach,
in
which
a
security's
value
is
determined
through
reference
to
prices
and
information
from
market
transactions
for
similar
or
identical
assets.
PORTFOLIO
OF
INVESTMENTS
Columbia
U.S.
High
Yield
ETF
March
31,
2025
(Percentages
represent
value
of
investments
compared
to
net
assets)
Investments
in
Securities
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
10
Active
ETFs
|
2025
Corporate
Bonds
  97.1%
Issue
Description
Principal
Amount
($)
Value
($)
Aerospace
&
Defense
2.9%
AAR
Escrow
Issuer
LLC
6.750%,
03/15/29
(a)
50,000‌
50,752‌
Bombardier,
Inc.
7.000%,
06/01/32
(a)
50,000‌
49,836‌
8.750%,
11/15/30
(a)
100,000‌
105,638‌
Spirit
Aerosystems
,
Inc.
4.600%,
06/15/28
50,000‌
47,975‌
9.750%,
11/15/30
(a)
50,000‌
55,250‌
TransDigm
,
Inc.
4.625%,
01/15/29
50,000‌
47,537‌
6.375%,
03/01/29
(a)
100,000‌
101,069‌
6.625%,
03/01/32
(a)
100,000‌
101,259‌
6.750%,
08/15/28
(a)
100,000‌
101,517‌
6.875%,
12/15/30
(a)
75,000‌
76,673‌
Total
737,506‌
Airlines
1.2%
Allegiant
Travel
Co.
7.250%,
08/15/27
(a)
50,000‌
48,492‌
American
Airlines,
Inc.
8.500%,
05/15/29
(a)
50,000‌
50,765‌
American
Airlines,
Inc./
AAdvantage
Loyalty
IP
Ltd.
5.500%,
04/20/26
(a)
20,833‌
20,772‌
5.750%,
04/20/29
(a)
100,000‌
97,826‌
Jetblue
Airways
Corp.
/
Jetblue
Loyalty
LP
9.875%,
09/20/31
(a)
50,000‌
49,323‌
United
Airlines,
Inc.
4.625%,
04/15/29
(a)
50,000‌
47,329‌
Total
314,507‌
Automotive
2.0%
Adient
Global
Holdings
Ltd.
7.000%,
04/15/28
(a)
50,000‌
50,137‌
8.250%,
04/15/31
(a)
50,000‌
48,501‌
Allison
Transmission,
Inc.
3.750%,
01/30/31
(a)
50,000‌
44,452‌
Clarios
Global
LP
/
Clarios
US
Finance
Co.
6.750%,
05/15/28
(a)
75,000‌
76,076‌
Garrett
Motion
Holdings,
Inc.
/
Garrett
LX
I
Sarl
7.750%,
05/31/32
(a)
50,000‌
49,467‌
Goodyear
Tire
&
Rubber
Co.
(The)
4.875%,
03/15/27
50,000‌
48,809‌
5.250%,
04/30/31
50,000‌
45,053‌
JB
Poindexter
&
Co.,
Inc.
8.750%,
12/15/31
(a)
50,000‌
51,568‌
Phinia
,
Inc.
6.750%,
04/15/29
(a)
50,000‌
50,667‌
Tenneco,
Inc.
8.000%,
11/17/28
(a)
50,000‌
47,699‌
Total
512,429‌
Banking
0.4%
Ally
Financial,
Inc.
6.700%,
02/14/33
50,000‌
49,986‌
Synchrony
Financial
7.250%,
02/02/33
50,000‌
51,404‌
Total
101,390‌
Brokerage/Asset
Managers/Exchanges
1.5%
AG
Issuer
LLC
6.250%,
03/01/28
(a)
50,000‌
49,181‌
Aretec
Group,
Inc.
10.000%,
08/15/30
(a)
50,000‌
53,732‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Coinbase
Global,
Inc.
3.375%,
10/01/28
(a)
50,000‌
45,225‌
Compass
Group
Diversified
Holdings
LLC
5.250%,
04/15/29
(a)
50,000‌
47,220‌
Hunt
Cos.,
Inc.
5.250%,
04/15/29
(a)
50,000‌
47,826‌
Jane
Street
Group
/
JSG
Finance,
Inc.
7.125%,
04/30/31
(a)
50,000‌
51,322‌
StoneX
Group,
Inc.
7.875%,
03/01/31
(a)
50,000‌
52,277‌
Vfh
Parent
LLC
/
Valor
Co.-Issuer,
Inc.
7.500%,
06/15/31
(a)
50,000‌
51,257‌
Total
398,040‌
Building
Materials
2.5%
Builders
FirstSource
,
Inc.
4.250%,
02/01/32
(a)
50,000‌
44,809‌
6.375%,
03/01/34
(a)
50,000‌
49,739‌
Masterbrand,
Inc.
7.000%,
07/15/32
(a)
50,000‌
49,971‌
Mohegan
Tribal
Gaming
Authority
8.000%,
02/01/26
(a)
50,000‌
49,985‌
Quikrete
Holdings,
Inc.
6.375%,
03/01/32
(a)
100,000‌
100,532‌
6.750%,
03/01/33
(a)
50,000‌
49,829‌
Smyrna
Ready
Mix
Concrete
LLC
8.875%,
11/15/31
(a)
100,000‌
103,643‌
Standard
Building
Solutions,
Inc.
6.500%,
08/15/32
(a)
50,000‌
50,021‌
Standard
Industries,
Inc.
3.375%,
01/15/31
(a)
50,000‌
43,484‌
4.375%,
07/15/30
(a)
100,000‌
92,240‌
Total
634,253‌
Cable
and
Satellite
6.1%
Cable
One,
Inc.
4.000%,
11/15/30
(a)
50,000‌
39,653‌
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
4.250%,
02/01/31
(a)
200,000‌
177,195‌
4.250%,
01/15/34
(a)
150,000‌
123,384‌
4.500%,
08/15/30
(a)
100,000‌
91,054‌
4.500%,
05/01/32
150,000‌
130,413‌
4.750%,
03/01/30
(a)
100,000‌
92,667‌
5.000%,
02/01/28
(a)
100,000‌
97,026‌
5.125%,
05/01/27
(a)
50,000‌
49,235‌
Directv
Financing
LLC
8.875%,
02/01/30
(a)
50,000‌
47,708‌
Directv
Financing
LLC
/
Directv
Financing
Co.-Obligor,
Inc.
5.875%,
08/15/27
(a)
100,000‌
96,940‌
DISH
Network
Corp.
11.750%,
11/15/27
(a)
155,000‌
163,313‌
Echostar
Corp.
Series
.,
10.750%,
11/30/29
123,491‌
129,808‌
Sirius
XM
Radio
LLC
4.125%,
07/01/30
(a)
100,000‌
88,923‌
Sirius
XM
Radio,
Inc.
4.000%,
07/15/28
(a)
100,000‌
93,207‌
5.000%,
08/01/27
(a)
100,000‌
97,699‌
Viasat
,
Inc.
5.625%,
04/15/27
(a)
50,000‌
47,971‌
Total
1,566,196‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
11
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Chemicals
2.9%
Celanese
US
Holdings
LLC
6.629%,
07/15/32
50,000‌
51,355‌
6.800%,
11/15/30
50,000‌
51,833‌
6.950%,
11/15/33
50,000‌
52,256‌
Chemours
Co.
(The)
4.625%,
11/15/29
(a)
50,000‌
42,764‌
Element
Solutions,
Inc.
3.875%,
09/01/28
(a)
50,000‌
47,088‌
Ingevity
Corp.
3.875%,
11/01/28
(a)
50,000‌
46,680‌
Methanex
Corp.
5.125%,
10/15/27
50,000‌
48,893‌
Olympus
Water
US
Holding
Corp.
9.750%,
11/15/28
(a)
100,000‌
103,926‌
Parkland
Corp.
4.625%,
05/01/30
(a)
75,000‌
70,280‌
Scih
Salt
Holdings,
Inc.
4.875%,
05/01/28
(a)
50,000‌
47,545‌
SK
Invictus
Internediate
II
Sarl
5.000%,
10/30/29
(a)
50,000‌
46,955‌
Tronox
,
Inc.
4.625%,
03/15/29
(a)
50,000‌
42,671‌
Windsor
Holdings
III
LLC
8.500%,
06/15/30
(a)
50,000‌
51,805‌
WR
Grace
Holdings
LLC
5.625%,
08/15/29
(a)
50,000‌
43,028‌
Total
747,079‌
Construction
Machinery
1.3%
EquipmentShare.Com,
Inc.
8.625%,
05/15/32
(a)
50,000‌
51,691‌
H&E
Equipment
Services,
Inc.
3.875%,
12/15/28
(a)
50,000‌
49,874‌
Herc
Holdings,
Inc.
5.500%,
07/15/27
(a)
50,000‌
49,821‌
6.625%,
06/15/29
(a)
50,000‌
50,201‌
RB
Global
Holdings,
Inc.
7.750%,
03/15/31
(a)
50,000‌
52,315‌
United
Rentals
North
America,
Inc.
3.750%,
01/15/32
50,000‌
44,182‌
6.125%,
03/15/34
(a)
50,000‌
50,093‌
Total
348,177‌
Consumer
Cyclical
Services
3.1%
Allied
Universal
Holdco
LLC
7.875%,
02/15/31
(a)
50,000‌
50,676‌
Allied
Universal
Holdco
LLC
/
Allied
Universal
Finance
Corp.
9.750%,
07/15/27
(a)
100,000‌
100,286‌
Allied
Universal
Holdco
LLC/Allied
Universal
Finance
Corp./Atlas
Luxco
4
Sarl
4.625%,
06/01/28
(a)
50,000‌
47,376‌
4.625%,
06/01/28
(a)
50,000‌
47,264‌
Arches
Buyer,
Inc.
6.125%,
12/01/28
(a)
75,000‌
65,912‌
Bcpe
Empire
Holdings,
Inc.
7.625%,
05/01/27
(a)
50,000‌
49,204‌
Garda
World
Security
Corp.
6.000%,
06/01/29
(a)
75,000‌
70,224‌
Geo
Group,
Inc.
(The)
10.250%,
04/15/31
50,000‌
54,405‌
Go
Daddy
Operating
Co.
LLC
/
GD
Finance
Co.,
Inc.
5.250%,
12/01/27
(a)
50,000‌
49,562‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Match
Group
Holdings
II
LLC
4.625%,
06/01/28
(a)
50,000‌
47,984‌
Prime
Security
Services
Borrower
LLC
/
Prime
Finance,
Inc.
5.750%,
04/15/26
(a)
12,000‌
11,992‌
Service
Corp.
International
4.000%,
05/15/31
75,000‌
68,057‌
Staples,
Inc.
10.750%,
09/01/29
(a)
100,000‌
90,479‌
Wash
Multifamily
Acquisition,
Inc.
5.750%,
04/15/26
(a)
50,000‌
49,562‌
Total
802,983‌
Consumer
Products
1.6%
CD&R
Smokey
Buyer,
Inc.
/
Radio
Systems
Corp.
9.500%,
10/15/29
(a)
25,000‌
22,824‌
Edgewell
Personal
Care
Co.
5.500%,
06/01/28
(a)
50,000‌
48,988‌
Energizer
Holdings,
Inc.
4.375%,
03/31/29
(a)
75,000‌
69,815‌
Newell
Brands,
Inc.
6.375%,
09/15/27
50,000‌
50,311‌
6.625%,
09/15/29
100,000‌
100,201‌
Perrigo
Finance
Unlimited
Co.
4.900%,
06/15/30
50,000‌
47,796‌
Somnigroup
International,
Inc.
3.875%,
10/15/31
(a)
75,000‌
65,854‌
Total
405,789‌
Diversified
Manufacturing
1.5%
Chart
Industries,
Inc.
7.500%,
01/01/30
(a)
50,000‌
51,911‌
EMRLD
Borrower
LP
/
Emerald
Co.-Issuer,
Inc.
6.625%,
12/15/30
(a)
100,000‌
100,185‌
Griffon
Corp.
5.750%,
03/01/28
50,000‌
48,912‌
Husky
Injection
Molding
Systems
Ltd.
/
Titan
Co.-Borrower
LLC
9.000%,
02/15/29
(a)
50,000‌
50,102‌
Madison
IAQ
LLC
5.875%,
06/30/29
(a)
50,000‌
47,233‌
WESCO
Distribution,
Inc.
6.375%,
03/15/33
(a)
50,000‌
50,245‌
6.625%,
03/15/32
(a)
50,000‌
50,748‌
Total
399,336‌
Electric
3.2%
Calpine
Corp.
4.625%,
02/01/29
(a)
100,000‌
95,955‌
5.125%,
03/15/28
(a)
50,000‌
49,202‌
Clearway
Energy
Operating
LLC
3.750%,
02/15/31
(a)
50,000‌
43,989‌
Lightning
Power
LLC
7.250%,
08/15/32
(a)
50,000‌
51,536‌
Long
Ridge
Energy
LLC
8.750%,
02/15/32
(a)
48,000‌
46,417‌
NRG
Energy,
Inc.
3.375%,
02/15/29
(a)
50,000‌
45,946‌
3.625%,
02/15/31
(a)
50,000‌
44,343‌
5.750%,
07/15/29
(a)
50,000‌
49,204‌
PG&E
Corp.
5.000%,
07/01/28
50,000‌
48,678‌
TerraForm
Power
Operating
LLC
4.750%,
01/15/30
(a)
50,000‌
46,416‌
Vistra
Operations
Co.
LLC
4.375%,
05/01/29
(a)
100,000‌
94,970‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
12
Active
ETFs
|
2025
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
6.875%,
04/15/32
(a)
100,000‌
101,955‌
XPLR
Infrastructure
Operating
Partners
LP
7.250%,
01/15/29
(a)
100,000‌
98,568‌
Total
817,179‌
Environmental
0.6%
GFL
Environmental,
Inc.
4.750%,
06/15/29
(a)
50,000‌
48,123‌
6.750%,
01/15/31
(a)
50,000‌
51,529‌
Wrangler
Holdco
Corp.
6.625%,
04/01/32
(a)
50,000‌
50,923‌
Total
150,575‌
Finance
Companies
4.6%
Firstcash
,
Inc.
5.625%,
01/01/30
(a)
50,000‌
48,499‌
Fortress
Transportation
And
Infrastructure
Investors
LLC
7.000%,
06/15/32
(a)
50,000‌
50,713‌
7.875%,
12/01/30
(a)
50,000‌
52,129‌
Freedom
Mortgage
Corp.
12.000%,
10/01/28
(a)
50,000‌
53,700‌
12.250%,
10/01/30
(a)
50,000‌
55,126‌
Goeasy
Ltd.
7.625%,
07/01/29
(a)
50,000‌
50,049‌
Nationstar
Mortgage
Holdings,
Inc.
5.125%,
12/15/30
(a)
100,000‌
99,779‌
5.500%,
08/15/28
(a)
50,000‌
49,571‌
Navient
Corp.
4.875%,
03/15/28
50,000‌
47,697‌
Series
MTN,
5.625%,
08/01/33
25,000‌
21,545‌
9.375%,
07/25/30
50,000‌
53,295‌
OneMain
Finance
Corp.
3.875%,
09/15/28
50,000‌
46,348‌
5.375%,
11/15/29
100,000‌
95,212‌
7.125%,
11/15/31
50,000‌
50,361‌
7.875%,
03/15/30
50,000‌
51,831‌
Pennymac
Financial
Services,
Inc.
7.875%,
12/15/29
(a)
100,000‌
104,276‌
Provident
Funding
Associates
LP
/
PFG
Finance
Corp.
9.750%,
09/15/29
(a)
60,000‌
61,473‌
Rocket
Mortgage
LLC
/
Rocket
Mortgage
Co.-Issuer,
Inc.
3.875%,
03/01/31
(a)
50,000‌
44,862‌
4.000%,
10/15/33
(a)
50,000‌
42,876‌
United
Wholesale
Mortgage
LLC
5.500%,
04/15/29
(a)
50,000‌
48,189‌
5.750%,
06/15/27
(a)
50,000‌
49,165‌
Total
1,176,696‌
Food
and
Beverage
2.6%
Aramark
Services,
Inc.
5.000%,
02/01/28
(a)
50,000‌
49,089‌
B&G
Foods,
Inc.
8.000%,
09/15/28
(a)
50,000‌
50,249‌
BellRing
Brands,
Inc.
7.000%,
03/15/30
(a)
50,000‌
51,640‌
Darling
Ingredients,
Inc.
6.000%,
06/15/30
(a)
50,000‌
49,713‌
Lamb
Weston
Holdings,
Inc.
4.375%,
01/31/32
(a)
50,000‌
45,638‌
Performance
Food
Group,
Inc.
4.250%,
08/01/29
(a)
50,000‌
46,813‌
5.500%,
10/15/27
(a)
50,000‌
49,538‌
Post
Holdings,
Inc.
4.500%,
09/15/31
(a)
50,000‌
45,294‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
4.625%,
04/15/30
(a)
50,000‌
46,688‌
5.500%,
12/15/29
(a)
100,000‌
97,332‌
Simmons
Foods,
Inc./Simmons
Prepared
Foods,
Inc./Simmons
Pet
Food,
Inc./Simmons
Feed
4.625%,
03/01/29
(a)
50,000‌
46,395‌
United
Natural
Foods,
Inc.
6.750%,
10/15/28
(a)
50,000‌
49,398‌
US
Foods,
Inc.
4.625%,
06/01/30
(a)
50,000‌
47,464‌
Total
675,251‌
Gaming
2.7%
Boyd
Gaming
Corp.
4.750%,
06/15/31
(a)
50,000‌
46,122‌
Caesars
Entertainment,
Inc.
6.000%,
10/15/32
(a)
50,000‌
46,695‌
7.000%,
02/15/30
(a)
100,000‌
101,239‌
Churchill
Downs,
Inc.
5.500%,
04/01/27
(a)
50,000‌
49,596‌
5.750%,
04/01/30
(a)
50,000‌
48,960‌
Light
&
Wonder
International,
Inc.
7.250%,
11/15/29
(a)
50,000‌
50,806‌
MGM
Resorts
International
4.750%,
10/15/28
50,000‌
48,156‌
Midwest
Gaming
Borrower
LLC
/
Midwest
Gaming
Finance
Corp.
4.875%,
05/01/29
(a)
50,000‌
46,972‌
Molina
Healthcare,
Inc.
3.875%,
11/15/30
(a)
75,000‌
67,107‌
Scientific
Games
Holdings
LP/Scientific
Games
US
Finco
,
Inc.
6.625%,
03/01/30
(a)
50,000‌
47,144‌
Station
Casinos
LLC
4.625%,
12/01/31
(a)
50,000‌
44,941‌
Wynn
Las
Vegas
LLC
/
Wynn
Las
Vegas
Capital
Corp.
5.250%,
05/15/27
(a)
50,000‌
49,451‌
Wynn
Resorts
Finance
LLC
/
Wynn
Resorts
Capital
Corp.
5.125%,
10/01/29
(a)
50,000‌
47,986‌
Total
695,175‌
Health
Care
4.9%
AdaptHealth
LLC
5.125%,
03/01/30
(a)
50,000‌
45,648‌
Bausch
+
Lomb
Corp.
8.375%,
10/01/28
(a)
50,000‌
51,795‌
Chs
/Community
Health
Systems,
Inc.
4.750%,
02/15/31
(a)
50,000‌
39,497‌
CHS/Community
Health
Systems,
Inc.
5.250%,
05/15/30
(a)
50,000‌
41,233‌
5.625%,
03/15/27
(a)
50,000‌
47,767‌
6.000%,
01/15/29
(a)
50,000‌
44,437‌
6.875%,
04/15/29
(a)
50,000‌
32,362‌
10.875%,
01/15/32
(a)
50,000‌
49,429‌
CVS
Health
Corp.
7.000%,
(US
5
Year
CMT
T-Note
+
2.886%),
03/10/55
(b)
50,000‌
50,371‌
DaVita,
Inc.
4.625%,
06/01/30
(a)
100,000‌
92,165‌
6.875%,
09/01/32
(a)
100,000‌
100,632‌
LifePoint
Health,
Inc.
9.875%,
08/15/30
(a)
50,000‌
52,806‌
Medline
Borrower
LP
3.875%,
04/01/29
(a)
100,000‌
93,447‌
5.250%,
10/01/29
(a)
75,000‌
71,977‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
13
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Prime
Healthcare
Services,
Inc.
9.375%,
09/01/29
(a)
50,000‌
47,342‌
Star
Parent,
Inc.
9.000%,
10/01/30
(a)
50,000‌
49,420‌
Surgery
Center
Holdings,
Inc.
7.250%,
04/15/32
(a)
50,000‌
49,389‌
Tenet
Healthcare
Corp.
4.375%,
01/15/30
50,000‌
46,895‌
5.125%,
11/01/27
70,000‌
68,967‌
6.125%,
10/01/28
100,000‌
99,525‌
6.125%,
06/15/30
50,000‌
49,843‌
6.750%,
05/15/31
50,000‌
50,739‌
Total
1,275,686‌
Healthcare
Insurance
0.2%
Murphy
Oil
USA,
Inc.
3.750%,
02/15/31
(a)
50,000‌
44,453‌
Home
Construction
0.5%
Brookfield
Residential
Properties,
Inc.
/
Brookfield
Residential
US
LLC
4.875%,
02/15/30
(a)
50,000‌
43,753‌
Century
Communities,
Inc.
3.875%,
08/15/29
(a)
50,000‌
44,931‌
Mattamy
Group
Corp.
5.250%,
12/15/27
(a)
50,000‌
48,652‌
Total
137,336‌
Independent
Energy
4.6%
Baytex
Energy
Corp.
8.500%,
04/30/30
(a)
50,000‌
50,857‌
Civitas
Resources,
Inc.
8.375%,
07/01/28
(a)
50,000‌
51,652‌
8.750%,
07/01/31
(a)
50,000‌
51,435‌
CNX
Resources
Corp.
6.000%,
01/15/29
(a)
50,000‌
49,304‌
Crescent
Energy
Finance
LLC
7.625%,
04/01/32
(a)
50,000‌
49,484‌
Encino
Acquisition
Partners
Holdings
LLC
8.500%,
05/01/28
(a)
50,000‌
50,753‌
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co.
6.000%,
02/01/31
(a)
50,000‌
46,722‌
6.000%,
04/15/30
(a)
50,000‌
47,514‌
6.250%,
04/15/32
(a)
50,000‌
46,782‌
6.875%,
05/15/34
(a)
50,000‌
47,090‌
Kraken
Oil
&
Gas
Partners
LLC
7.625%,
08/15/29
(a)
50,000‌
48,676‌
Matador
Resources
Co.
6.500%,
04/15/32
(a)
50,000‌
49,606‌
McAfee
Corp.
6.750%,
03/01/29
(a)
50,000‌
48,883‌
Meg
Energy
Corp.
5.875%,
02/01/29
(a)
50,000‌
49,158‌
Northern
Oil
&
Gas,
Inc.
8.125%,
03/01/28
(a)
50,000‌
50,141‌
Permian
Resources
Operating
LLC
5.875%,
07/01/29
(a)
50,000‌
49,386‌
6.250%,
02/01/33
(a)
50,000‌
49,839‌
7.000%,
01/15/32
(a)
50,000‌
51,202‌
Range
Resources
Corp.
8.250%,
01/15/29
50,000‌
51,485‌
Saturn
Oil
&
Gas,
Inc.
9.625%,
06/15/29
(a)
48,000‌
46,426‌
SM
Energy
Co.
6.750%,
08/01/29
(a)
50,000‌
49,305‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
7.000%,
08/01/32
(a)
50,000‌
49,211‌
Talos
Production,
Inc.
9.375%,
02/01/31
(a)
50,000‌
50,936‌
TNGR
Intermediate
Holdings
LLC
5.500%,
10/15/29
(a)
50,000‌
47,034‌
Total
1,182,881‌
Leisure
2.6%
Carnival
Corp.
5.750%,
03/01/27
(a)
50,000‌
50,025‌
6.000%,
05/01/29
(a)
100,000‌
99,331‌
Cinemark
USA,
Inc.
7.000%,
08/01/32
(a)
50,000‌
50,498‌
Life
Time,
Inc.
6.000%,
11/15/31
(a)
50,000‌
49,643‌
Live
Nation
Entertainment,
Inc.
4.750%,
10/15/27
(a)
50,000‌
48,785‌
NCL
Corp.
Ltd.
5.875%,
03/15/26
(a)
8,000‌
7,982‌
NCL
Finance
Ltd.
6.125%,
03/15/28
(a)
50,000‌
49,857‌
Royal
Caribbean
Cruises
Ltd.
6.000%,
02/01/33
(a)
100,000‌
100,063‌
SIX
Flags
Entertainment
Corp.
7.250%,
05/15/31
(a)
50,000‌
50,145‌
Six
Flags
Entertainment
Corp.
/Six
Flags
Theme
Parks,
Inc./
Canada's
Wonderland
Co.
6.625%,
05/01/32
(a)
50,000‌
50,426‌
Viking
Cruises
Ltd.
9.125%,
07/15/31
(a)
50,000‌
53,407‌
VOC
Escrow
Ltd.
5.000%,
02/15/28
(a)
50,000‌
48,721‌
Total
658,883‌
Life
Insurance
0.4%
Aph
Somerset
Investor
2
LLC
/
Aph2
Somerset
Investor
2
LLC
/
Aph3
Somerset
Inves
7.875%,
11/01/29
(a)
50,000‌
49,267‌
Global
Atlantic
Fin
Co.
7.950%,
(US
5
Year
CMT
T-Note
+
3.608%),
10/15/54
(a),(b)
50,000‌
51,920‌
Total
101,187‌
Lodging
0.7%
Hilton
Domestic
Operating
Co.,
Inc.
3.625%,
02/15/32
(a)
50,000‌
43,801‌
Hilton
Grand
Vacations
Borrower
Escrow
LLC
/
Hilton
Grand
Vacations
Borrower
Esc
6.625%,
01/15/32
(a)
50,000‌
49,600‌
Hilton
Grand
Vacations
Borrower
LLC
/
Hilton
Grand
Vacations
Borrower,
Inc.
4.875%,
07/01/31
(a)
50,000‌
43,938‌
Travel
+
Leisure
Co.
4.500%,
12/01/29
(a)
50,000‌
46,735‌
Total
184,074‌
Media
and
Entertainment
3.3%
Clear
Channel
Outdoor
Holdings,
Inc.
5.125%,
08/15/27
(a)
50,000‌
48,389‌
7.500%,
06/01/29
(a)
50,000‌
41,285‌
9.000%,
09/15/28
(a)
50,000‌
51,457‌
Gray
Media,
Inc.
10.500%,
07/15/29
(a)
50,000‌
52,231‌
Lamar
Media
Corp.
3.625%,
01/15/31
50,000‌
44,657‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
14
Active
ETFs
|
2025
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
McGraw-Hill
Education,
Inc.
5.750%,
08/01/28
(a)
50,000‌
48,809‌
8.000%,
08/01/29
(a)
50,000‌
49,414‌
Nexstar
Media,
Inc.
5.625%,
07/15/27
(a)
100,000‌
98,586‌
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.
4.625%,
03/15/30
(a)
50,000‌
45,664‌
Paramount
Global
6.375%,
(US
5
Year
CMT
T-Note
+
3.999%),
03/30/62
(b)
50,000‌
48,783‌
ROBLOX
Corp.
3.875%,
05/01/30
(a)
50,000‌
45,529‌
TEGNA,
Inc.
4.625%,
03/15/28
100,000‌
94,934‌
Univision
Communications,
Inc.
4.500%,
05/01/29
(a)
50,000‌
44,185‌
6.625%,
06/01/27
(a)
50,000‌
49,542‌
7.375%,
06/30/30
(a)
50,000‌
47,989‌
8.000%,
08/15/28
(a)
50,000‌
50,214‌
Total
861,668‌
Metals
and
Mining
1.9%
Alcoa
Nederland
Holding
BV
7.125%,
03/15/31
(a)
50,000‌
51,458‌
Arsenal
AIC
Parent
LLC
11.500%,
10/01/31
(a)
50,000‌
54,303‌
Cleveland-Cliffs,
Inc.
6.875%,
11/01/29
(a)
50,000‌
48,965‌
7.000%,
03/15/32
(a)
100,000‌
95,982‌
7.500%,
09/15/31
(a)
50,000‌
48,827‌
Compass
Minerals
International,
Inc.
6.750%,
12/01/27
(a)
50,000‌
48,008‌
Kaiser
Aluminum
Corp.
4.500%,
06/01/31
(a)
50,000‌
44,247‌
Novelis
Corp.
4.750%,
01/30/30
(a)
100,000‌
93,030‌
Total
484,820‌
Midstream
6.7%
AmeriGas
Partners
LP
/
Amerigas
Finance
Corp.
5.750%,
05/20/27
50,000‌
48,120‌
Antero
Midstream
Partners
LP
/
Antero
Midstream
Finance
Corp.
5.750%,
03/01/27
(a)
50,000‌
49,794‌
6.625%,
02/01/32
(a)
50,000‌
50,852‌
Blue
Racer
Midstream
LLC
/
Blue
Racer
Finance
Corp.
7.250%,
07/15/32
(a)
50,000‌
51,791‌
Buckeye
Partners
LP
6.875%,
07/01/29
(a)
50,000‌
50,817‌
Delek
Logistics
Partners
LP
/
Delek
Logistics
Finance
Corp.
8.625%,
03/15/29
(a)
50,000‌
51,778‌
EQM
Midstream
Partners
LP
4.750%,
01/15/31
(a)
50,000‌
48,019‌
6.375%,
04/01/29
(a)
50,000‌
51,019‌
Ferrellgas
LP
/
Ferrellgas
Finance
Corp.
5.375%,
04/01/26
(a)
50,000‌
49,527‌
5.875%,
04/01/29
(a)
50,000‌
45,270‌
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp.
8.000%,
01/15/27
18,000‌
18,360‌
8.250%,
01/15/29
50,000‌
51,589‌
Harvest
Midstream
I
LP
7.500%,
05/15/32
(a)
50,000‌
51,314‌
Hess
Midstream
Operations
LP
4.250%,
02/15/30
(a)
50,000‌
47,097‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Howard
Midstream
Energy
Partners
LLC
8.875%,
07/15/28
(a)
100,000‌
104,269‌
ITT
Holdings
LLC
6.500%,
08/01/29
(a)
50,000‌
46,121‌
Kinetik
Holdings
LP
6.625%,
12/15/28
(a)
50,000‌
50,776‌
New
Fortress
Energy,
Inc.
6.500%,
09/30/26
(a)
50,000‌
42,259‌
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp.
8.125%,
02/15/29
(a)
50,000‌
50,362‌
8.375%,
02/15/32
(a)
50,000‌
50,154‌
Nustar
Logistics
LP
6.375%,
10/01/30
50,000‌
50,475‌
Sunoco
LP
7.000%,
05/01/29
(a)
50,000‌
51,187‌
Sunoco
LP
/
Sunoco
Finance
Corp.
4.500%,
04/30/30
50,000‌
46,769‌
7.000%,
09/15/28
(a)
50,000‌
51,149‌
Tallgrass
Energy
Partners
LP
/
Tallgrass
Energy
Finance
Corp.
5.500%,
01/15/28
(a)
50,000‌
48,761‌
6.000%,
12/31/30
(a)
50,000‌
47,566‌
Venture
Global
LNG,
Inc.
8.125%,
06/01/28
(a)
100,000‌
102,140‌
8.375%,
06/01/31
(a)
100,000‌
101,350‌
9.500%,
02/01/29
(a)
100,000‌
107,224‌
9.875%,
02/01/32
(a)
100,000‌
106,242‌
Total
1,722,151‌
Oil
Field
Services
2.1%
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp.
6.625%,
09/01/32
(a)
50,000‌
50,203‌
Enerflex
Ltd.
9.000%,
10/15/27
(a)
46,000‌
47,228‌
Nabors
Industries,
Inc.
8.875%,
08/15/31
(a)
50,000‌
43,471‌
9.125%,
01/31/30
(a)
60,000‌
60,031‌
Noble
Finance
II
LLC
8.000%,
04/15/30
(a)
50,000‌
49,961‌
Transocean
Titan
Financing
Ltd.
8.375%,
02/01/28
(a)
45,238‌
46,231‌
Transocean,
Inc.
8.500%,
05/15/31
(a)
50,000‌
48,623‌
8.750%,
02/15/30
(a)
40,000‌
41,533‌
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp.
7.125%,
03/15/29
(a)
50,000‌
50,859‌
Valaris
Ltd.
8.375%,
04/30/30
(a)
50,000‌
50,044‌
Weatherford
International
Ltd.
8.625%,
04/30/30
(a)
50,000‌
50,764‌
Total
538,948‌
Other
Financial
Institutions
1.0%
Credit
Acceptance
Corp.
9.250%,
12/15/28
(a)
50,000‌
52,934‌
Howard
Hughes
Corp.
(The)
4.125%,
02/01/29
(a)
50,000‌
45,718‌
5.375%,
08/01/28
(a)
50,000‌
48,386‌
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp.
9.750%,
01/15/29
50,000‌
49,710‌
Kennedy-Wilson,
Inc.
4.750%,
03/01/29
15,000‌
13,723‌
4.750%,
02/01/30
50,000‌
44,776‌
Total
255,247‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
15
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Other
Industry
0.8%
Arcosa
,
Inc.
6.875%,
08/15/32
(a)
50,000‌
50,722‌
Brand
Industrial
Services,
Inc.
10.375%,
08/01/30
(a)
50,000‌
47,843‌
Hillenbrand,
Inc.
6.250%,
02/15/29
50,000‌
50,172‌
Williams
Scotsman,
Inc.
6.625%,
06/15/29
(a)
50,000‌
50,575‌
Total
199,312‌
Other
REIT
1.7%
Ladder
Capital
Finance
Holdings
LLLP
/
Ladder
Capital
Finance
Corp.
4.750%,
06/15/29
(a)
50,000‌
47,650‌
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co.-Issuer
4.875%,
05/15/29
(a)
50,000‌
46,792‌
Rhp
Hotel
Properties
LP
/
Rhp
Finance
Corp.
6.500%,
04/01/32
(a)
100,000‌
99,854‌
Rlj
Lodging
Trust
LP
4.000%,
09/15/29
(a)
50,000‌
44,924‌
Service
Properties
Trust
8.625%,
11/15/31
(a)
50,000‌
52,741‌
Starwood
Property
Trust,
Inc.
7.250%,
04/01/29
(a)
100,000‌
102,702‌
XHR
LP
4.875%,
06/01/29
(a)
50,000‌
46,824‌
Total
441,487‌
Packaging
1.7%
Ardagh
Metal
Packaging
Finance
USA
LLC
/
Ardagh
Metal
Packaging
Finance
PLC
3.250%,
09/01/28
(a)
50,000‌
44,812‌
4.000%,
09/01/29
(a)
50,000‌
42,606‌
Clydesdale
Acquisition
Holdings,
Inc.
6.625%,
04/15/29
(a)
50,000‌
50,278‌
8.750%,
04/15/30
(a)
50,000‌
50,729‌
Labl
,
Inc.
5.875%,
11/01/28
(a)
50,000‌
39,353‌
Mauser
Packaging
Solutions
Holding
Co.
7.875%,
04/15/27
(a)
75,000‌
73,526‌
9.250%,
04/15/27
(a)
50,000‌
47,128‌
Owens-Brockway
Glass
Container,
Inc.
7.250%,
05/15/31
(a)
50,000‌
48,815‌
Pactiv
Evergreen
Group
Issuer
LLC
/  Pactiv
Evergreen
Group
Issuer,
Inc.
4.375%,
10/15/28
(a)
50,000‌
51,094‌
Total
448,341‌
Paper
0.4%
Magnera
Corp.
7.250%,
11/15/31
(a)
50,000‌
48,618‌
Veritiv
Operating
Co.
10.500%,
11/30/30
(a)
50,000‌
53,143‌
Total
101,761‌
Pharmaceuticals
1.8%
Bausch
Health
Cos.,
Inc.
4.875%,
06/01/28
(a)
100,000‌
80,361‌
5.750%,
08/15/27
(a)
25,000‌
24,956‌
11.000%,
09/30/28
(a)
25,000‌
23,892‌
Elanco
Animal
Health,
Inc.
6.650%,
08/28/28
50,000‌
50,600‌
ENDO
Finance
Holdings,
Inc.
8.500%,
04/15/31
(a)
50,000‌
52,104‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Grifols
SA
4.750%,
10/15/28
(a)
100,000‌
92,405‌
Organon
&
Co.
/
Organon
Foreign
Debt
Co.-Issuer
BV
4.125%,
04/30/28
(a)
50,000‌
46,732‌
5.125%,
04/30/31
(a)
50,000‌
43,636‌
7.875%,
05/15/34
(a)
50,000‌
48,624‌
Total
463,310‌
Property
&
Casualty
3.1%
Acrisure
LLC
/
Acrisure
Finance,
Inc.
4.250%,
02/15/29
(a)
50,000‌
46,773‌
8.500%,
06/15/29
(a)
50,000‌
52,011‌
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co.-Issuer
6.500%,
10/01/31
(a)
50,000‌
49,149‌
6.750%,
10/15/27
(a)
50,000‌
49,846‌
6.750%,
04/15/28
(a)
50,000‌
50,208‌
7.000%,
01/15/31
(a)
50,000‌
50,200‌
Amwins
Group,
Inc.
4.875%,
06/30/29
(a)
50,000‌
47,090‌
Ardonagh
Finco
Ltd.
7.750%,
02/15/31
(a)
37,000‌
37,753‌
BroadStreet
Partners,
Inc.
5.875%,
04/15/29
(a)
50,000‌
47,936‌
HUB
International
Ltd.
7.250%,
06/15/30
(a)
100,000‌
102,915‌
7.375%,
01/31/32
(a)
50,000‌
50,924‌
Jones
Deslauriers
Insurance
Management,
Inc.
10.500%,
12/15/30
(a)
50,000‌
53,525‌
Liberty
Mutual
Group,
Inc.
4.125%,
(US
5
Year
CMT
T-Note
+
3.315%),
12/15/51
(a),(b)
50,000‌
47,644‌
Panther
Escrow
Issuer
LLC
7.125%,
06/01/31
(a)
100,000‌
101,829‌
Total
787,803‌
Railroads
0.4%
Genesee
&
Wyoming,
Inc.
6.250%,
04/15/32
(a)
50,000‌
49,941‌
Watco
Cos.
LLC
/
Watco
Finance
Corp.
7.125%,
08/01/32
(a)
50,000‌
50,244‌
Total
100,185‌
Refining
0.2%
PBF
Holding
Co.
LLC
/
PBF
Finance
Corp.
7.875%,
09/15/30
(a)
50,000‌
43,754‌
Restaurants
0.9%
1011778
BC
ULC
/
New
Red
Finance,
Inc.
4.000%,
10/15/30
(a)
100,000‌
90,529‌
Fertitta
Entertainment
LLC
/
Fertitta
Entertainment
Finance
Co.,
Inc.
6.750%,
01/15/30
(a)
100,000‌
86,585‌
Yum!
Brands,
Inc.
5.375%,
04/01/32
50,000‌
48,745‌
Total
225,859‌
Retail
REIT
0.2%
Brookfield
Property
REIT,
Inc.
/
BPR
Cumulus
LLC
/
BPR
Nimbus
LLC
/
Ggsi
Sellco
LLC
4.500%,
04/01/27
(a)
50,000‌
47,918‌
Retailers
4.2%
Asbury
Automotive
Group,
Inc.
5.000%,
02/15/32
(a)
50,000‌
45,289‌
Bath
&
Body
Works,
Inc.
6.875%,
11/01/35
75,000‌
75,916‌
Carvana
Co.
9.000%,
06/01/31
(a),(c)
53,500‌
59,373‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
16
Active
ETFs
|
2025
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
9.000%,
06/01/30
(a),(c)
50,000‌
52,917‌
12.000%,
12/01/28
(a),(c)
42,971‌
44,315‌
Gap,
Inc.
(The)
3.875%,
10/01/31
(a)
50,000‌
43,177‌
Group
1
Automotive,
Inc.
6.375%,
01/15/30
(a)
50,000‌
50,165‌
Hanesbrands,
Inc.
9.000%,
02/15/31
(a)
50,000‌
52,711‌
Lcm
Investments
Holdings
II
LLC
8.250%,
08/01/31
(a)
50,000‌
51,923‌
Lithia
Motors,
Inc.
4.375%,
01/15/31
(a)
50,000‌
45,307‌
Mavis
Tire
Express
Services
Topco
Corp.
6.500%,
05/15/29
(a)
50,000‌
47,225‌
Miter
Brands
Acquisition
Holdco,
Inc.
/
Miwd
Borrower
LLC
6.750%,
04/01/32
(a)
50,000‌
49,579‌
Nordstrom,
Inc.
5.000%,
01/15/44
50,000‌
36,907‌
PetSmart,
Inc.
/
PetSmart
Finance
Corp.
4.750%,
02/15/28
(a)
50,000‌
46,778‌
7.750%,
02/15/29
(a)
50,000‌
45,948‌
Qvc
,
Inc.
4.750%,
02/15/27
50,000‌
45,254‌
Sonic
Automotive,
Inc.
4.875%,
11/15/31
(a)
50,000‌
44,749‌
Victoria's
Secret
&
Co.
4.625%,
07/15/29
(a)
50,000‌
43,857‌
Walgreens
Boots
Alliance,
Inc.
4.800%,
11/18/44
50,000‌
45,264‌
8.125%,
08/15/29
50,000‌
51,017‌
Wand
Newco
3,
Inc.
7.625%,
01/30/32
(a)
50,000‌
51,193‌
Wolverine
World
Wide,
Inc.
4.000%,
08/15/29
(a)
50,000‌
42,287‌
Total
1,071,151‌
Supermarkets
0.4%
Albertsons
Cos.,
Inc.
/
Safeway,
Inc.
/
New
Albertsons
LP
/
Albertsons
LLC
3.500%,
03/15/29
(a)
50,000‌
46,073‌
6.250%,
03/15/33
(a)
50,000‌
50,539‌
Total
96,612‌
Technology
8.5%
Amentum
Holdings,
Inc.
7.250%,
08/01/32
(a)
50,000‌
49,379‌
AthenaHealth
Group
Inc.
6.500%,
02/15/30
(a)
75,000‌
70,473‌
Block,
Inc.
6.500%,
05/15/32
(a)
50,000‌
50,527‌
Boost
Newco
Borrower
LLC
7.500%,
01/15/31
(a)
75,000‌
78,089‌
Capstone
Borrower,
Inc.
8.000%,
06/15/30
(a)
50,000‌
51,430‌
Central
Parent,
Inc.
/
CDK
Global,
Inc.
7.250%,
06/15/29
(a)
75,000‌
65,041‌
Clarivate
Science
Holdings
Corp.
4.875%,
07/01/29
(a)
50,000‌
44,616‌
Cloud
Software
Group,
Inc.
6.500%,
03/31/29
(a)
150,000‌
145,832‌
8.250%,
06/30/32
(a)
100,000‌
101,622‌
9.000%,
09/30/29
(a)
150,000‌
149,571‌
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Conduent
Business
Services
LLC
/
Conduent
State
&
Local
Solutions,
Inc.
6.000%,
11/01/29
(a)
50,000‌
46,904‌
Fortress
Intermediate
3,
Inc.
7.500%,
06/01/31
(a)
50,000‌
50,559‌
Helios
Software
Holdings,
Inc.
/
ION
Corporate
Solutions
Finance
Sarl
8.750%,
05/01/29
(a)
100,000‌
99,510‌
Imola
Merger
Corp.
4.750%,
05/15/29
(a)
50,000‌
47,490‌
ION
Trading
Technologies
Sarl
9.500%,
05/30/29
(a)
50,000‌
50,335‌
Iron
Mountain,
Inc.
4.500%,
02/15/31
(a)
100,000‌
91,676‌
4.875%,
09/15/29
(a)
50,000‌
47,730‌
5.000%,
07/15/28
(a)
50,000‌
48,499‌
5.250%,
03/15/28
(a)
100,000‌
97,794‌
7.000%,
02/15/29
(a)
50,000‌
51,148‌
McAfee
Corp.
7.375%,
02/15/30
(a)
50,000‌
44,302‌
NCR
Atleos
Corp.
9.500%,
04/01/29
(a)
50,000‌
54,206‌
NCR
Voyix
Corp.
5.125%,
04/15/29
(a)
15,000‌
14,284‌
Neptune
Bidco
US,
Inc.
9.290%,
04/15/29
(a)
75,000‌
65,052‌
Open
Text
Corp.
3.875%,
12/01/29
(a)
50,000‌
45,547‌
Open
Text
Holdings,
Inc.
4.125%,
02/15/30
(a)
50,000‌
45,694‌
Sabre
Glbl
,
Inc.
10.750%,
11/15/29
(a)
54,000‌
54,452‌
Seagate
HDD
Cayman
9.625%,
12/01/32
50,000‌
56,211‌
Sensata
Technologies,
Inc.
3.750%,
02/15/31
(a)
50,000‌
43,649‌
Shift4
Payments
LLC
/
Shift4
Payments
Finance
Sub,
Inc.
6.750%,
08/15/32
(a)
50,000‌
50,429‌
SS&C
Technologies,
Inc.
5.500%,
09/30/27
(a)
50,000‌
49,624‌
6.500%,
06/01/32
(a)
50,000‌
50,573‌
Twilio
,
Inc.
3.875%,
03/15/31
50,000‌
45,029‌
UKG,
Inc.
6.875%,
02/01/31
(a)
100,000‌
101,478‌
Xerox
Holdings
Corp.
8.875%,
11/30/29
(a)
50,000‌
33,538‌
Total
2,192,293‌
Transportation
Services
0.5%
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.
5.375%,
03/01/29
(a)
50,000‌
45,006‌
8.000%,
02/15/31
(a)
50,000‌
48,769‌
Rand
Parent
LLC
8.500%,
02/15/30
(a)
50,000‌
49,447‌
Total
143,222‌
Wireless
0.4%
Rogers
Communications,
Inc.
7.000%,
(US
5
Year
CMT
T-Note
+
2.653%),
04/15/55
(b)
50,000‌
50,079‌
7.125%,
(US
5
Year
CMT
T-Note
+
2.620%),
04/15/55
(b)
50,000‌
49,776‌
Total
99,855‌
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
17
Notes
to
Portfolio
of
Investments
Corporate
Bonds
(continued)
Issue
Description
Principal
Amount
($)
Value
($)
Wirelines
2.3%
Consolidated
Communications,
Inc.
6.500%,
10/01/28
(a)
50,000‌
48,377‌
Frontier
Communications
Holdings
LLC
5.000%,
05/01/28
(a)
75,000‌
74,090‌
6.000%,
01/15/30
(a)
100,000‌
100,210‌
8.625%,
03/15/31
(a)
50,000‌
53,285‌
Level
3
Financing,
Inc.
10.500%,
04/15/29
(a)
50,000‌
55,323‌
10.750%,
12/15/30
(a)
50,000‌
55,266‌
11.000%,
11/15/29
(a)
50,000‌
55,788‌
Uniti
Group
LP
/
Uniti
Group
Finance,
Inc.
/
CSL
Capital
LLC
10.500%,
02/15/28
(a)
96,000‌
102,038‌
Zayo
Group
Holdings,
Inc.
4.000%,
03/01/27
(a)
50,000‌
45,623‌
Total
590,000‌
Total
Corporate
Bonds
(Cost
$25,413,859)
24,982,758‌
Money
Market
Funds
1.2%
Shares
Value
($)
Dreyfus
Treasury
Securities
Cash
Management,
Institutional
Shares
4.174%
(d)
301,328‌
301,328‌
Total
Money
Market
Funds
(Cost
$301,328)
301,328‌
Total
Investments
in
Securities
(Cost
$25,715,187)
25,284,086‌
Other
Assets
&
Liabilities,
Net
425,292‌
Net
Assets
25,709,378‌
(a)
Represents
privately
placed
and
other
securities
and
instruments
exempt
from
Securities
and
Exchange
Commission
registration
(collectively,
private
placements),
such
as
Section
4(a)(2)
and
Rule
144A
eligible
securities,
which
are
often
sold
only
to
qualified
institutional
buyers.
At
March
31,
2025,
the
total
value
of
these
securities
amounted
to
$21,815,758,
which
represents
84.86%
of
total
net
assets.
(b)
Variable
rate
security.
The
interest
rate
shown
was
the
current
rate
as
of
March
31,
2025.
(c)
Payment-in-kind
security.
Interest
can
be
paid
by
issuing
additional
par
of
the
security
or
in
cash.
(d)
The
rate
shown
is
the
seven-day
current
annualized
yield
at
March
31,
2025.
Fair
Value
Measurements
The
Fund
categorizes
its
fair
value
measurements
according
to
a
three-level
hierarchy
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
prioritizing
that
the
most
observable
input
be
used
when
available.
Observable
inputs
are
those
that
market
participants
would
use
in
pricing
an
investment
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
are
those
that
reflect
the
Fund’s
assumptions
about
the
information
market
participants
would
use
in
pricing
an
investment.
An
investment’s
level
within
the
fair
value
hierarchy
is
based
on
the
lowest
level
of
any
input
that
is
deemed
significant
to
the
asset's
or
liability’s
fair
value
measurement.
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
investments
at
that
level.
For
example,
certain
U.S.
government
securities
are
generally
high
quality
and
liquid,
however,
they
are
reflected
as
Level
2
because
the
inputs
used
to
determine
fair
value
may
not
always
be
quoted
prices
in
an
active
market.
Fair
value
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
—
Valuations
based
on
quoted
prices
for
investments
in
active
markets
that
the
Fund
has
the
ability
to
access
at
the
measurement
date.
Valuation
adjustments
are
not
applied
to
Level
1
investments.
Level
2
—
Valuations
based
on
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risks,
etc.).
Level
3
—
Valuations
based
on
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
and
judgment
in
determining
the
fair
value
of
investments).
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
U.S.
High
Yield
ETF
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
18
Active
ETFs
|
2025
Fair
Value
Measurements
(continued)
Inputs
that
are
used
in
determining
fair
value
of
an
investment
may
include
price
information,
credit
data,
volatility
statistics,
and
other
factors.
These
inputs
can
be
either
observable
or
unobservable.
The
availability
of
observable
inputs
can
vary
between
investments,
and
is
affected
by
various
factors
such
as
the
type
of
investment,
and
the
volume
and
level
of
activity
for
that
investment
or
similar
investments
in
the
marketplace.
The
inputs
will
be
considered
by
the
Investment
Manager,
along
with
any
other
relevant
factors
in
the
calculation
of
an
investment’s
fair
value.
The
Fund
uses
prices
and
inputs
that
are
current
as
of
the
measurement
date,
which
may
include
periods
of
market
dislocations.
During
these
periods,
the
availability
of
prices
and
inputs
may
be
reduced
for
many
investments.
This
condition
could
cause
an
investment
to
be
reclassified
between
the
various
levels
within
the
hierarchy.
Investments
falling
into
the
Level
3
category,
if
any,
are
primarily
supported
by
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
those
investments.
However,
these
may
be
classified
as
Level
3
investments
due
to
lack
of
market
transparency
and
corroboration
to
support
these
quoted
prices.
Additionally,
valuation
models
may
be
used
as
the
pricing
source
for
any
remaining
investments
classified
as
Level
3.
These
models
may
rely
on
one
or
more
significant
unobservable
inputs
and/or
significant
assumptions
by
the
Investment
Manager.
Inputs
used
in
valuations
may
include,
but
are
not
limited
to,
financial
statement
analysis,
capital
account
balances,
discount
rates
and
estimated
cash
flows,
and
comparable
company
data.
The
Fund's
Board
of
Trustees
(the
Board)
has
designated
the
Investment
Manager,
through
its
Valuation
Committee
(the
Committee),
as
valuation
designee,
responsible
for
determining
the
fair
value
of
the
assets
of
the
Fund
for
which
market
quotations
are
not
readily
available
using
valuation
procedures
approved
by
the
Board.
The
Committee
consists
of
voting
and
non-voting
members
from
various
groups
within
the
Investment
Manager's
organization,
including
operations
and
accounting,
trading
and
investments,
compliance,
risk
management
and
legal.
The
Committee
meets
at
least
monthly
to
review
and
approve
valuation
matters,
which
may
include
a
description
of
specific
valuation
determinations,
data
regarding
pricing
information
received
from
approved
pricing
vendors
and
brokers
and
the
results
of
Board-approved
valuation
policies
and
procedures
(the
Policies).
The
Policies
address,
among
other
things,
instances
when
market
quotations
are
or
are
not
readily
available,
including
recommendations
of
third
party
pricing
vendors
and
a
determination
of
appropriate
pricing
methodologies;
events
that
require
specific
valuation
determinations
and
assessment
of
fair
value
techniques;
securities
with
a
potential
for
stale
pricing,
including
those
that
are
illiquid,
restricted,
or
in
default;
and
the
effectiveness
of
third-party
pricing
vendors,
including
periodic
reviews
of
vendors.
The
Committee
meets
more
frequently,
as
needed,
to
discuss
additional
valuation
matters,
which
may
include
the
need
to
review
back-testing
results,
review
time-
sensitive
information
or
approve
related
valuation
actions.
Representatives
of
Columbia
Management
Investment
Advisers,
LLC
report
to
the
Board
at
each
of
its
regularly
scheduled
meetings
to
discuss
valuation
matters
and
actions
during
the
period,
similar
to
those
described
earlier.
The
following
table
is
a
summary
of
the
inputs
used
to
value
the
Fund’s
investments
at
March
31,
2025:
Level
1
($)
Level
2
($)
Level
3
($)
Total
($)
Investments
in
Securities
Corporate
Bonds
–‌
24,982,758‌
–‌
24,982,758‌
Money
Market
Funds
301,328‌
–‌
–‌
301,328‌
Total
Investments
in
Securities
301,328‌
24,982,758‌
–‌
25,284,086‌
See
the
Portfolio
of
Investments
for
all
investment
classifications
not
indicated
in
the
table.
The
Fund’s
assets
assigned
to
the
Level
2
input
category
are
generally
valued
using
the
market
approach,
in
which
a
security's
value
is
determined
through
reference
to
prices
and
information
from
market
transactions
for
similar
or
identical
assets.
STATEMENT
OF
ASSETS
AND
LIABILITIES
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
19
Columbia
Short
Duration
High
Yield
ETF
Columbia
U.S.
High
Yield
ETF
Assets
Investments
in
securities,
at
value
Unaffiliated
issuers
(cost
$26,726,027
and
$25,715,187,
respectively)
$26,453,287
$25,284,086
Cash
–
1,375
Receivable
for:
Interest
429,030
433,469
Dividends
927
549
Total
assets
26,883,244
25,719,479
Liabilities
Payable
for:
Investment
management
fees
10,067
10,101
Total
liabilities
10,067
10,101
Net
assets
applicable
to
outstanding
capital
stock
$26,873,177
$25,709,378
Represented
by:
Paid-in
capital
$26,999,364
$26,011,331
Total
distributable
earnings
(loss)
(126,187)
(301,953)
Total
-
representing
net
assets
applicable
to
outstanding
capital
stock
$26,873,177
$25,709,378
Shares
outstanding
1,350,050
1,300,050
Net
asset
value
per
share
$19.91
$19.78
STATEMENT
OF
OPERATIONS
For
the
period
from
September
5,
2024
(commencement
of
operations)
through
March
31,
2025
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
20
Active
ETFs
|
2025
Columbia
Short
Duration
High
Yield
ETF
Columbia
U.S.
High
Yield
ETF
Investment
Income:
Interest
$888,606
$979,861
Dividends
-
unaffiliated
issuers
10,699
5,304
Total
income
899,305
985,165
Expenses:
Investment
management
fees
65,992
67,939
Total
expenses
65,992
67,939
Net
Investment
Income
833,313
917,226
Realized
and
unrealized
gain
(loss)
-
net
Net
realized
gain
(loss)
on:
Investments
-
unaffiliated
issuers
27,274
1,533
Net
realized
gain
27,274
1,533
Change
in
net
unrealized
appreciation
(depreciation)
on:
Investments
-
unaffiliated
issuers
(272,740)
(431,101)
Net
change
in
unrealized
depreciation
(272,740)
(431,101)
Net
realized
and
unrealized
loss
(245,466)
(429,568)
Net
Increase
in
net
assets
resulting
from
operations
$587,847
$487,658
STATEMENT
OF
CHANGES
IN
NET
ASSETS
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
21
Columbia
Short
Duration
High
Yield
ETF
Columbia
U.S.
High
Yield
ETF
Year
Ended
March
31,
2025
(a)
Year
Ended
March
31,
2025
(a)
Operations
Net
investment
income
$833,313
$917,226
Net
realized
gain
27,274
1,533
Net
change
in
unrealized
depreciation
(272,740)
(431,101)
Net
increase
in
net
assets
resulting
from
operations
587,847
487,658
Distributions
to
shareholders
Net
investment
income
and
net
realized
gains
(714,034)
(789,611)
Shareholder
transactions
Proceeds
from
shares
sold
1,998,364
1,010,331
Net
increase
in
net
assets
resulting
from
shareholder
transactions
1,998,364
1,010,331
Increase
in
net
assets
1,872,177
708,378
Net
Assets:
Net
assets
beginning
of
period
25,001,000
(b)
25,001,000
(c)
Net
assets
at
end
of
period
$26,873,177
$25,709,378
Capital
stock
activity
Shares
outstanding,
beginning
of
period
1,250,050
1,250,050
Shares
sold
100,000
50,000
Shares
outstanding,
end
of
period
1,350,050
1,300,050
(a)
Based
on
operations
from
September
5,
2024
(commencement
of
operations)
through
the
stated
period
end.
(b)
Initial
cash
of
$1,000
was
contributed
on
August
28,
2024;
additional
cash
of
$820,784
and
securities
(including
accrued
income)
of
$24,179,216
were
contributed
on
September
4,
2024.
(c)
Initial
cash
of
$1,000
was
contributed
on
August
28,
2024;
additional
cash
of
$224,807
and
securities
(including
accrued
income)
of
$24,775,193
were
contributed
on
September
4,
2024.
FINANCIAL
HIGHLIGHTS
Columbia
Short
Duration
High
Yield
ETF
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
22
Active
ETFs
|
2025
The
following
tables
are
intended
to
help
you
understand
each
Fund’s
financial
performance.
Per
share
net
investment
income
(loss)
amounts
are
calculated
based
on
average
shares
outstanding
during
the
period.
Total
return
assumes
reinvestment
of
all
dividends
and
distributions,
if
any.
Total
Return
at
NAV
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
on
the
last
day
of
the
period.
Total
Return
at
Market
Price
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
redemption
on
the
last
day
of
the
period.
The
total
return
would
have
been
lower
if
certain
expenses
had
not
been
reimbursed/waived
by
the
Investment
Manager.
Market
Price
returns
are
based
on
closing
prices
reported
by
the
Fund's
primary
listing
exchange
(typically
4
pm
ET
close).
These
returns
do
not
represent
the
returns
an
investor
would
receive
if
shares
were
traded
at
other
times.
Total
return
and
portfolio
turnover
are
not
annualized
for
periods
of
less
than
one
year.
The
ratios
of
expenses
and
net
investment
income
are
annualized
for
periods
of
less
than
one
year.
The
portfolio
turnover
rate
is
calculated
without
regard
to
purchase
and
sales
transactions
of
short-term
instruments,
certain
derivatives
and
in-kind
transactions,
if
any.
If
such
transactions
were
included,
the
Fund’s
portfolio
turnover
rate
may
be
higher.
Year
Ended
March
31,
2025
(a)
Per
share
data
Net
asset
value,
beginning
of
year
$20.00‌
Income
(loss)
from
investment
operations:
Net
investment
income
0.63‌
Net
realized
and
unrealized
loss
(0.18‌)
Total
from
investment
operations
0.45‌
Less
distributions
to
shareholders:
Net
investment
income
(0.54‌)
Net
realized
gains
(0.00‌)
(b)
Total
distribution
to
shareholders
(0.54‌)
Net
asset
value,
end
of
year
$19.91‌
Total
Return
at
NAV
2.29‌%
Total
Return
at
Market
Price
2.28‌%
Ratios
to
average
net
assets:
Total
gross
expenses
(c)
0.44‌%
Total
net
expenses
(c)(d)
0.44‌%
Net
investment
income
5.56‌%
Supplemental
data
Net
assets,
end
of
year
(in
thousands)
$26,873‌
Portfolio
turnover
9‌%
(a)
The
Fund
commenced
operations
on
September
5,
2024.
Per
share
data
and
total
return
reflect
activity
from
that
date.
(b)
Rounds
to
zero.
(c)
In
addition
to
the
fees
and
expenses
that
the
Fund
bears
directly,
the
Fund
indirectly
bears
a
pro
rata
share
of
the
fees
and
expenses
of
any
other
funds
in
which
it
invests.
Such
indirect
expenses
are
not
included
in
the
Fund’s
reported
expense
ratios.
(d)
Total
net
expenses
include
the
impact
of
certain
fee
waivers/expense
reimbursements
made
by
the
Investment
Manager
and
certain
of
its
affiliates,
if
applicable.
FINANCIAL
HIGHLIGHTS
Columbia
U.S.
High
Yield
ETF
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
this
statement.
Active
ETFs
|
2025
23
Year
Ended
March
31,
2025
(a)
Per
share
data
Net
asset
value,
beginning
of
year
$20.00‌
Income
(loss)
from
investment
operations:
Net
investment
income
0.71‌
Net
realized
and
unrealized
loss
(0.32‌)
Total
from
investment
operations
0.39‌
Less
distributions
to
shareholders:
Net
investment
income
(0.61‌)
Net
realized
gains
(0.00‌)
(b)
Total
distribution
to
shareholders
(0.61‌)
Net
asset
value,
end
of
year
$19.78‌
Total
Return
at
NAV
1.95‌%
Total
Return
at
Market
Price
1.85‌%
Ratios
to
average
net
assets:
Total
gross
expenses
(c)
0.46‌%
Total
net
expenses
(c)(d)
0.46‌%
Net
investment
income
6.21‌%
Supplemental
data
Net
assets,
end
of
year
(in
thousands)
$25,709‌
Portfolio
turnover
12‌%
(a)
The
Fund
commenced
operations
on
September
5,
2024.
Per
share
data
and
total
return
reflect
activity
from
that
date.
(b)
Rounds
to
zero.
(c)
In
addition
to
the
fees
and
expenses
that
the
Fund
bears
directly,
the
Fund
indirectly
bears
a
pro
rata
share
of
the
fees
and
expenses
of
any
other
funds
in
which
it
invests.
Such
indirect
expenses
are
not
included
in
the
Fund’s
reported
expense
ratios.
(d)
Total
net
expenses
include
the
impact
of
certain
fee
waivers/expense
reimbursements
made
by
the
Investment
Manager
and
certain
of
its
affiliates,
if
applicable.
NOTES
TO
FINANCIAL
STATEMENTS
March
31,
2025
24
Active
ETFs
|
2025
Note
1.
Organization
Columbia
ETF
Trust
I
(the
Trust)
is
registered
under
the
Investment
Company
Act
of
1940,
as
amended
(the
1940
Act),
as
an
open-end
management
investment
company
organized
as
a
Massachusetts
statutory
trust.
The
Trust
may
issue
an
unlimited
number
of
shares
(without
par
value).
Information
presented
in
these
financial
statements
pertains
to
the
following
series
of
the
Trust
(each,
a
Fund
and
collectively,
the
Funds):
Columbia
Short
Duration
High
Yield
ETF
and
Columbia
U.S.
High
Yield
ETF.
Each
Fund
is
non-
diversified.
On
August
28,
2024,
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager),
a
wholly-owned
subsidiary
of
Ameriprise
Financial,
Inc.
(Ameriprise
Financial),
invested
$1,000
of
cash
in
Columbia
Short
Duration
High
Yield
ETF,
which
represented
the
initial
capital
for
the
Fund
at
$20
per
share.
On
September
4,
2024,
the
Investment
Manager
invested
$24,179,216
of
securities
(including
accrued
income)
and
$820,784
of
cash
in
the
Fund
at
$20
per
share.
Shares
of
the
Fund
were
first
offered
to
the
public
on
September
5,
2024.
On
August
28,
2024,
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager),
a
wholly-owned
subsidiary
of
Ameriprise
Financial,
Inc.
(Ameriprise
Financial),
invested
$1,000
of
cash
in
Columbia
U.S.
High
Yield
ETF,
which
represented
the
initial
capital
for
the
Fund
at
$20
per
share.
On
September
4,
2024,
the
Investment
Manager
invested
$24,775,193
of
securities
(including
accrued
income)
and
$224,807
of
cash
in
the
Fund
at
$20
per
share.
Shares
of
the
Fund
were
first
offered
to
the
public
on
September
5,
2024.
These
financial
statements
cover
the
period
from
September
5,
2024
(commencement
of
operations)
through
March
31,
2025.
Fund
Shares
The
market
prices
of
each
Fund’s
shares
may
differ
to
some
degree
from
the
Fund’s
net
asset
value
(NAV).
Unlike
conventional
mutual
funds,
each
Fund
issues
and
redeems
shares
on
a
continuous
basis,
at
NAV,
only
in
a
large
specified
number
of
shares,
each
called
a
“Creation
Unit.”
A
Creation
Unit
consists
of
50,000
shares.
Creation
Units
are
issued
and
redeemed
generally
in-kind
for
a
basket
of
securities
and/or
for
cash.
Investors
such
as
market
makers,
large
investors
and
institutions
who
wish
to
deal
in
Creation
Units
directly
with
a
Fund
must
have
entered
into
an
authorized
participant
agreement
(Authorized
Participants)
with
the
Fund’s
principal
underwriter
and
the
transfer
agent,
or
purchase
through
a
dealer
that
has
entered
into
such
an
agreement.
Authorized
participants
may
purchase
or
redeem
Fund
shares
directly
from
the
Fund
only
in
Creation
Units.
The
Funds’
shares
are
also
listed
on
the
New
York
Stock
Exchange
for
which
investors
can
purchase
and
sell
shares
on
the
secondary
market
through
a
broker
at
market
prices
which
may
differ
from
the
NAV
of
the
Fund.
Note
2.
Summary
of
significant
accounting
policies
Basis
of
preparation
Each
Fund
is
an
investment
company
that
applies
the
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
-
Investment
Companies
(ASC
946).
The
financial
statements
are
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(GAAP),
which
requires
management
to
make
certain
estimates
and
assumptions
that
affect
the
reported
amounts
of
assets
and
liabilities,
the
disclosure
of
contingent
assets
and
liabilities
at
the
date
of
the
financial
statements
and
the
reported
amounts
of
income
and
expenses
during
the
reporting
period.
Actual
results
could
differ
from
those
estimates.
The
following
is
a
summary
of
significant
accounting
policies
followed
by
the
Funds
in
the
preparation
of
their
financial
statements.
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
Active
ETFs
|
2025
25
Segment
reporting
In
this
reporting
period,
the
Funds
adopted
FASB
Accounting
Standards
Update
2023-07,
Segment
Reporting
(Topic
280)
–
Improvements
to
Reportable
Segment
Disclosures
(ASU
2023-07).
Adoption
of
the
new
standard
impacted
financial
statement
disclosures
only
and
did
not
affect
the
Funds’
financial
position
or
their
results
of
operations.
The
intent
of
the
ASU
2023-07
is
to
enable
investors
to
better
understand
an
entity’s
overall
performance
and
to
assess
its
potential
future
cash
flows
through
improved
segment
disclosures.
The
chief
operating
decision
maker
(CODM)
for
the
Funds
is
Columbia
Management
Investment
Advisers,
LLC
through
its
Investment
Oversight
Committee
and
Global
Executive
Group,
which
are
responsible
for
assessing
performance
and
making
decisions
about
resource
allocation.
The
CODM
has
determined
that
the
Funds
have
a
single
operating
segment
because
the
CODM
monitors
the
operating
results
of
the
Funds
as
a
whole
and
the
Funds’
long-term
strategic
asset
allocation
is
pre-determined
in
accordance
with
the
terms
of
each
Fund’s
prospectus,
based
on
a
defined
investment
strategy
which
is
executed
by
the
Funds’
portfolio
managers
as
a
team.
The
financial
information
provided
to
and
reviewed
by
the
CODM
is
consistent
with
that
presented
within
the
Funds’
financial
statements.
Security
valuation
Debt
securities
generally
are
valued
based
on
prices
obtained
from
pricing
services,
which
are
intended
to
reflect
market
transactions
for
normal,
institutional-size
trading
units
of
similar
securities.
The
services
may
use
various
pricing
techniques
that
take
into
account,
as
applicable,
factors
such
as
yield,
quality,
coupon
rate,
maturity,
type
of
issue,
trading
characteristics
and
other
data,
as
well
as
approved
independent
broker-dealer
quotes.
Debt
securities
for
which
quotations
are
not
readily
available
or
not
believed
to
be
reflective
of
market
value
may
also
be
valued
based
upon
a
bid
quote
from
an
approved
independent
broker-dealer.
Debt
securities
maturing
in
60
days
or
less
are
valued
primarily
at
amortized
market
value,
unless
this
method
results
in
a
valuation
that
management
believes
does
not
approximate
fair
value.
Investments
in
open-end
investment
companies
(other
than
exchange-traded
funds
(ETFs)),
are
valued
at
the
latest
net
asset
value
reported
by
those
companies
as
of
the
valuation
time.
Investments
for
which
market
quotations
are
not
readily
available,
or
that
have
quotations
which
management
believes
are
not
reflective
of
market
value
or
reliable,
are
valued
at
fair
value
as
determined
in
good
faith
under
procedures
approved
by
the
Board
of
Trustees.
If
a
security
or
class
of
securities
(such
as
foreign
securities)
is
valued
at
fair
value,
such
value
is
likely
to
be
different
from
the
quoted
or
published
price
for
the
security,
if
available.
The
determination
of
fair
value
often
requires
significant
judgment.
To
determine
fair
value,
management
may
use
assumptions
including
but
not
limited
to
future
cash
flows
and
estimated
risk
premiums.
Multiple
inputs
from
various
sources
may
be
used
to
determine
fair
value.
GAAP
requires
disclosure
regarding
the
inputs
and
valuation
techniques
used
to
measure
fair
value
and
any
changes
in
valuation
inputs
or
techniques.
In
addition,
investments
shall
be
disclosed
by
major
category.
This
information
is
disclosed
following
the
Funds’
Portfolio
of
Investments.
Security
transactions
Security
transactions
are
accounted
for
on
the
trade
date.
Cost
is
determined
and
gains
(losses)
are
based
upon
the
specific
identification
method
for
both
financial
statement
and
federal
income
tax
purposes.
Income
recognition
Interest
income
is
recorded
on
an
accrual
basis.
Market
premiums
and
discounts,
including
original
issue
discounts,
are
amortized
and
accreted,
respectively,
over
the
expected
life
of
the
security
on
all
debt
securities,
unless
otherwise
noted.
Certain
Funds
may
place
a
debt
security
on
non-accrual
status
and
reduce
related
interest
income
when
it
becomes
probable
that
the
interest
will
not
be
collected
and
the
amount
of
uncollectible
interest
can
be
reasonably
estimated.
Certain
Funds
may
also
adjust
accrual
rates
when
it
becomes
probable
the
full
interest
will
not
be
collected
and
a
partial
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
26
Active
ETFs
|
2025
payment
will
be
received.
A
defaulted
debt
security
is
removed
from
non-accrual
status
when
the
issuer
resumes
interest
payments
or
when
collectability
of
interest
is
reasonably
assured.
Dividend
income
is
recorded
on
the
ex-dividend
date.
The
value
of
additional
securities
received
as
an
income
payment
through
a
payment-in-kind,
if
any,
is
recorded
as
interest
income
and
increases
the
cost
basis
of
such
securities.
Expenses
General
expenses
of
the
Trust
are
allocated
to
the
Funds
based
upon
relative
net
assets
or
other
expense
allocation
methodologies
determined
by
the
nature
of
the
expense.
Expenses
directly
attributable
to
a
Fund
are
charged
to
that
Fund.
Determination
of
net
asset
value
The
net
asset
value
per
share
of
each
Fund
is
computed
by
dividing
the
value
of
the
net
assets
of
a
Fund
by
the
total
number
of
outstanding
shares
of
the
Fund,
rounded
to
the
nearest
cent,
at
the
close
of
regular
trading
(ordinarily
4:00
p.m.
Eastern
Time)
every
day
the
New
York
Stock
Exchange
is
open.
Federal
income
tax
status
For
federal
income
tax
purposes,
each
Fund
is
treated
as
a
separate
entity.
The
Funds
intend
to
qualify
each
year
as
separate
regulated
investment
companies
under
Subchapter
M
of
the
Internal
Revenue
Code,
as
amended,
and
will
distribute
substantially
all
of
their
investment
company
taxable
income
and
net
capital
gain,
if
any,
for
their
tax
year,
and
as
such
will
not
be
subject
to
federal
income
taxes.
In
addition,
the
Funds
intend
to
distribute
in
each
calendar
year
substantially
all
of
their
ordinary
income,
capital
gain
net
income
and
certain
other
amounts,
if
any,
such
that
the
Funds
should
not
be
subject
to
federal
excise
tax.
Therefore,
no
federal
income
or
excise
tax
provisions
are
recorded.
Distributions
to
shareholders
Distributions
from
net
investment
income,
if
any,
are
declared
and
paid
monthly.
Net
realized
capital
gains,
if
any,
are
distributed
at
least
annually.
Income
distributions
and
capital
gain
distributions
are
determined
in
accordance
with
federal
income
tax
regulations,
which
may
differ
from
GAAP.
Guarantees
and
indemnifications
Under
the
Trust’s
organizational
documents
and,
in
some
cases,
by
contract,
its
officers
and
trustees
are
indemnified
against
certain
liabilities
arising
out
of
the
performance
of
their
duties
to
the
Trust
or
its
funds.
In
addition,
certain
of
the
Funds’
contracts
with
their
service
providers
contain
general
indemnification
clauses.
The
Funds’
maximum
exposure
under
these
arrangements
is
unknown
since
the
amount
of
any
future
claims
that
may
be
made
against
the
Funds
cannot
be
determined,
and
the
Funds
have
no
historical
basis
for
predicting
the
likelihood
of
any
such
claims.
Recent
accounting
pronouncements
and
regulatory
updates
Accounting
Standards
Update
2023-09
Income
Taxes
(Topic
740)
In
December
2023,
the
FASB
issued
Accounting
Standards
Update
No.
2023-09
Income
Taxes
(Topic
740)
Improvements
to
Income
Tax
Disclosures.
The
amendments
were
issued
to
enhance
the
transparency
and
decision
usefulness
of
income
tax
disclosures
primarily
related
to
rate
reconciliation
and
income
taxes
paid
information.
The
amendments
are
effective
for
annual
periods
beginning
after
December
15,
2024,
with
early
adoption
permitted.
Management
expects
that
the
adoption
of
the
amendments
will
not
have
a
material
impact
on
its
financial
statements.
Note
3.
Investment
management
fees
Under
an
Investment
Management
Services
Agreement,
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager),
a
wholly-owned
subsidiary
of
Ameriprise
Financial,
Inc.,
determines
which
securities
will
be
purchased,
held
or
sold.
The
investment
management
fee
is
a
unitary
fee
paid
monthly
to
the
Investment
Manager
at
an
annual
rate
based
on
each
Fund’s
average
daily
net
assets.
In
return
for
this
fee,
the
Investment
Manager
pays
the
operating
costs
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
Active
ETFs
|
2025
27
and
expenses
of
each
Fund
other
than
the
following
expenses
(which
will
be
paid
by
the
Fund):
taxes;
interest
incurred
on
borrowing
by
the
Fund,
if
any,
brokerage
fees
and
commissions;
interest
and
fee
expense
related
to
the
Fund’s
participation
in
inverse
floater
structures
and
any
other
portfolio
transaction
expenses;
infrequent
and/or
unusual
expenses,
including
without
limitation
litigation
expenses;
distribution
and/or
service
fees;
expenses
incurred
in
connection
with
lending
securities;
and
any
other
expenses
approved
by
the
Board
of
Trustees.
The
investment
management
fee
is
an
annual
fee
that
is
equal
to
a
percentage
of
each
Fund’s
average
daily
net
assets
as
follows:
Compensation
of
Board
members
Members
of
the
Board
of
Trustees
who
are
not
officers
or
employees
of
the
Investment
Manager
or
Ameriprise
Financial
are
compensated
for
their
services
to
the
Funds.
Under
a
Deferred
Compensation
Plan
(the
Deferred
Plan),
these
members
of
the
Board
of
Trustees
may
elect
to
defer
payment
of
up
to
100%
of
their
compensation.
Deferred
amounts
are
treated
as
though
equivalent
dollar
amounts
had
been
invested
in
shares
of
certain
funds
managed
by
the
Investment
Manager.
Each
Fund’s
deferred
amount
is
adjusted
for
market
value
changes
and
it
is
distributed
in
accordance
with
the
Deferred
Plan
by
the
Investment
Manager.
The
expenses
of
the
compensation
of
the
members
of
the
Board
of
Trustees
that
are
allocated
to
the
Funds
are
payable
by
the
Investment
Manager.
Compensation
of
Chief
Compliance
Officer
The
Board
of
Trustees
has
appointed
a
Chief
Compliance
Officer
for
the
Funds
in
accordance
with
federal
securities
regulations.
A
portion
of
the
Chief
Compliance
Officer’s
total
compensation
is
allocated
to
the
Funds,
along
with
other
allocations
to
affiliated
registered
investment
companies
managed
by
the
Investment
Manager
and
its
affiliates,
based
on
relative
net
assets.
The
expenses
of
the
Chief
Compliance
Officer
allocated
to
the
Funds
are
payable
by
the
Investment
Manager.
Distribution
and
service
fees
ALPS
Distributors,
Inc.,
(the
Distributor)
serves
as
the
distributor
for
the
Funds.
The
Funds
have
adopted
a
distribution
and
service
plan
(the
Distribution
Plan).
Under
the
Distribution
Plan,
the
Funds
are
authorized
to
pay
distribution
and
service
fees
to
the
Distributor
and
other
firms
that
provide
distribution
and
shareholder
services
at
the
maximum
annual
rate
of
0.25%
of
average
daily
net
assets
of
each
Fund.
No
distribution
or
service
fees
are
currently
paid
by
the
Funds
or
have
been
approved
for
payment
by
the
Board
of
Trustees.
There
are
no
current
plans
to
impose
these
fees.
Note
4.
Federal
tax
information
The
timing
and
character
of
income
and
capital
gain
distributions
are
determined
in
accordance
with
income
tax
regulations,
which
may
differ
from
GAAP
because
of
temporary
or
permanent
book
to
tax
differences.
At
March
31,
2025,
these
differences
are
primarily
due
to
differing
treatment
for
deferral/reversal
of
wash
sale
losses
and
principal
and/or
interest
of
fixed
income
securities.
To
the
extent
these
differences
are
permanent,
reclassifications
are
made
among
the
components
of
the
Fund’s
net
assets.
Temporary
differences
do
not
require
reclassifications.
The
following
reclassifications
were
made:
Fund
Effective
investment
management
fee
rate
(%)
Columbia
Short
Duration
High
Yield
ETF
0.44
Columbia
U.S.
High
Yield
ETF
0.46
Fund
Undistributed
net
investment
income
($)
Accumulated
net
realized
gain
(loss)
($)
Paid-in
capital
($)
Columbia
Short
Duration
High
Yield
ETF
6,958
(6,958)
-
Columbia
U.S.
High
Yield
ETF
12,771
(12,771)
-
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
28
Active
ETFs
|
2025
Net
investment
income
(loss)
and
net
realized
gains
(losses),
as
disclosed
in
the
Statement
of
Operations,
and
net
assets
were
not
affected
by
these
reclassifications.
The
tax
character
of
distributions
paid
during
year
ended
March
31,
2025
was
as
follows:
Short-term
capital
gain
distributions,
if
any,
are
considered
ordinary
income
distributions
for
tax
purposes.
At
March
31,
2025,
the
components
of
distributable
earnings
on
a
tax
basis
were
as
follows:
At
March
31,
2025,
the
cost
of
all
investments
for
federal
income
tax
purposes
along
with
the
aggregate
gross
unrealized
appreciation
and
depreciation
based
on
that
cost
was:
Tax
cost
of
investments
and
unrealized
appreciation/(depreciation)
may
also
include
timing
differences
that
do
not
constitute
adjustments
to
tax
basis.
Management
of
the
Funds
has
concluded
that
there
are
no
significant
uncertain
tax
positions
in
the
Funds
that
would
require
recognition
in
the
financial
statements.
However,
management’s
conclusion
may
be
subject
to
review
and
adjustment
at
a
later
date
based
on
factors
including,
but
not
limited
to,
new
tax
laws,
regulations,
and
administrative
interpretations
(including
relevant
court
decisions).
Generally,
the
Funds’
federal
tax
returns
for
the
prior
three
fiscal
years
remain
subject
to
examination
by
the
Internal
Revenue
Service.
Note
5.
Portfolio
information
The
cost
of
purchases
and
proceeds
from
sales
of
securities,
excluding
short-term
investments
and
in-kind
transactions,
for
the
year
ended
March
31,
2025,
were
as
follows:
The
amount
of
purchase
and
sale
activity
impacts
the
portfolio
turnover
rate
reported
in
the
Financial
Highlights.
Note
6.
In-kind
transactions
The
Funds
may
accept
in-kind
contributions
and
redemptions.
In-kind
contributions
are
accounted
for
at
the
fair
market
value
of
the
in-kind
securities
contributed
on
the
date
of
contribution.
For
the
year
ended
March
31,
2025,
the
cost
basis
of
securities
contributed
was
as
follows:
Year
Ended
March
31,
2025
Fund
Ordinary
income
($)
Long-term
capital
gain
($)
Total
($)
Columbia
Short
Duration
High
Yield
ETF
714,034
-
714,034
Columbia
U.S.
High
Yield
ETF
789,611
-
789,611
Fund
Undistributed
ordinary
income
($)
Undistributed
long-term
capital
gains
($)
Capital
loss
carryforwards
($)
Net
unrealized
appreciation
(depreciation)
($)
Columbia
Short
Duration
High
Yield
ETF
152,975
-
-
(279,162)
Columbia
U.S.
High
Yield
ETF
141,191
-
-
(443,144)
Fund
Tax
cost
($)
Gross
unrealized
appreciation
($)
Gross
unrealized
depreciation
($)
Net
unrealized
appreciation
(depreciation)
($)
Columbia
Short
Duration
High
Yield
ETF
26,732,449
30,515
(309,677)
(279,162)
Columbia
U.S.
High
Yield
ETF
25,727,230
58,870
(502,014)
(443,144)
Fund
Purchases
($)
Proceeds
from
sales
($)
Columbia
Short
Duration
High
Yield
ETF
2,698,551
2,231,570
Columbia
U.S.
High
Yield
ETF
3,137,688
3,025,312
Funds
Contributions
($)
Columbia
Short
Duration
High
Yield
ETF
25,770,217
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
Active
ETFs
|
2025
29
A
portion
of
the
contributions
disclosed
above
were
received
on
September
4,
2024.
Refer
to
Note
1
for
additional
details.
Proceeds
from
the
sales
of
securities
include
the
value
of
securities
delivered
through
an
in-kind
redemption
of
certain
Fund
shares.
Net
realized
gains
on
these
securities
are
not
taxable
to
remaining
shareholders
in
the
Funds.
For
the
year
ended
March
31,
2025,
the
Funds
did
not
have
in-kind
redemptions.
Note
7.
Line
of
credit
Each
Fund
has
access
to
a
revolving
credit
facility
with
a
syndicate
of
banks
led
by
JPMorgan
Chase
Bank,
N.A.,
Citibank,
N.A.
and
Wells
Fargo
Bank,
N.A.
whereby
each
Fund
may
borrow
for
the
temporary
funding
of
shareholder
redemptions
or
for
other
temporary
or
emergency
purposes.
Pursuant
to
an
October
24,
2024
amendment
and
restatement,
the
credit
facility,
which
is
an
agreement
between
the
Funds
and
certain
other
funds
managed
by
the
Investment
Manager
or
an
affiliated
investment
manager,
severally
and
not
jointly,
permits
aggregate
borrowings
up
to
$900
million.
Interest
is
currently
charged
to
each
participating
fund
based
on
its
borrowings
at
a
rate
equal
to
the
higher
of
(i)
the
federal
funds
effective
rate,
(ii)
the
secured
overnight
financing
rate
plus
0.10%
and
(iii)
the
overnight
bank
funding
rate,
plus
1.00%
in
each
case.
Each
borrowing
under
the
credit
facility
matures
no
later
than
60
days
after
the
date
of
borrowing.
The
Fund
also
pays
a
commitment
fee
equal
to
its
pro
rata
share
of
the
unused
amount
of
the
credit
facility
at
a
rate
of
0.15%
per
annum.
The
commitment
fee
is
included
in
other
expenses
in
the
Statement
of
Operations.
This
agreement
expires
annually
in
October
unless
extended
or
renewed.
Prior
to
the
October
24,
2024
amendment
and
restatement,
each
Fund
had
access
to
a
revolving
credit
facility
with
a
syndicate
of
banks
led
by
JPMorgan
Chase
Bank,
N.A.,
Citibank,
N.A.
and
Wells
Fargo
Bank,
N.A.
which
permitted
collective
borrowings
up
to
$900
million.
Interest
was
charged
to
each
participating
fund
based
on
its
borrowings
at
a
rate
equal
to
the
higher
of
(i)
the
federal
funds
effective
rate,
(ii)
the
secured
overnight
financing
rate
plus
0.10%
and
(iii)
the
overnight
bank
funding
rate,
plus
1.00%
in
each
case.
No
Fund
had
borrowings
during
the
year
ended
March
31,
2025.
Note
8.
Significant
risks
Active
management
risk
Each
Fund
is
actively
managed
and
its
performance
therefore
will
reflect,
in
part,
the
ability
of
the
portfolio
managers
to
make
investment
decisions
that
seek
to
achieve
the
Fund’s
investment
objective.
Each
Fund
is
not
an
index
fund
(it
does
not
seek
to
track
the
performance
of
an
index),
nor
does
it
provide
daily
transparency
into
its
portfolio
holdings
like
most
other
ETFs.
Due
to
its
active
management,
each
Fund
could
underperform
its
benchmark
index
and/or
other
funds
with
similar
investment
objectives
and/or
strategies.
Active
trading
of
portfolio
and
Tracking
Basket
securities
may
result
in
added
expenses,
a
lower
return
and
increased
tax
liability,
including
relative
to
other
ETFs.
Credit
risk
Credit
risk
is
the
risk
that
the
value
of
debt
instruments
in
the
Fund’s
portfolio
may
decline
because
the
issuer
defaults
or
otherwise
becomes
unable
or
unwilling,
or
is
perceived
to
be
unable
or
unwilling,
to
honor
its
financial
obligations,
such
as
making
payments
to
the
Fund
when
due.
Credit
rating
agencies
assign
credit
ratings
to
certain
debt
instruments
to
indicate
their
credit
risk.
Lower-rated
or
unrated
debt
instruments
held
by
Funds
may
present
increased
credit
risk
as
compared
to
higher-rated
debt
instruments.
High-yield
investments
risk
Securities
and
other
debt
instruments
held
by
the
Funds
that
are
rated
below
investment
grade
(commonly
called
"high-
yield"
or
"junk"
bonds)
and
unrated
debt
instruments
of
comparable
quality
expose
the
Funds
to
a
greater
risk
of
loss
of
principal
and
income
than
funds
that
invests
solely
or
primarily
in
investment
grade
debt
instruments.
In
addition,
these
investments
have
greater
price
fluctuations,
are
less
liquid
and
are
more
likely
to
experience
a
default
than
higher-
rated
debt
instruments.
High-yield
debt
instruments
are
considered
to
be
predominantly
speculative
with
respect
to
the
issuer's
capacity
to
pay
interest
and
repay
principal.
Columbia
U.S.
High
Yield
ETF
25,275,006
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
30
Active
ETFs
|
2025
Interest
rate
risk
Interest
rate
risk
is
the
risk
of
losses
attributable
to
changes
in
interest
rates.
In
general,
if
interest
rates
rise,
the
values
of
debt
instruments
tend
to
fall,
and
if
interest
rates
fall,
the
values
of
debt
instruments
tend
to
rise.
Changes
in
the
value
of
a
debt
instrument
usually
will
not
affect
the
amount
of
income
the
Funds
receive
from
it
but
will
generally
affect
the
value
of
your
investment
in
the
Funds.
Changes
in
interest
rates
may
also
affect
the
liquidity
of
the
Fund’s
investments
in
debt
instruments.
In
general,
the
longer
the
maturity
or
duration
of
a
debt
instrument,
the
greater
its
sensitivity
to
changes
in
interest
rates.
For
example,
a
three-year
duration
means
a
bond
is
expected
to
decrease
in
value
by
3%
if
interest
rates
rise
1%
and
increase
in
value
by
3%
if
interest
rates
fall
1%.
Interest
rate
declines
also
may
increase
prepayments
of
debt
obligations,
which,
in
turn,
would
increase
prepayment
risk.
The
Funds
are
subject
to
the
risk
that
the
income
generated
by
its
investments
may
not
keep
pace
with
inflation.
Actions
by
governments
and
central
banking
authorities
can
result
in
increases
or
decreases
in
interest
rates.
Higher
periods
of
inflation
could
lead
such
authorities
to
raise
interest
rates.
Such
actions
may
negatively
affect
the
value
of
debt
instruments
held
by
the
Funds,
resulting
in
a
negative
impact
on
the
Fund’s
performance
and
NAV.
Any
interest
rate
increases
could
cause
the
value
of
the
Fund’s
investments
in
debt
instruments
to
decrease.
Rising
interest
rates
may
prompt
redemptions
from
the
Funds,
which
may
force
the
Funds
to
sell
investments
at
a
time
when
it
is
not
advantageous
to
do
so,
which
could
result
in
losses.
Liquidity
risk
Liquidity
risk
is
the
risk
associated
with
any
event,
circumstance,
or
characteristic
of
an
investment
or
market
that
negatively
impacts
the
Fund’s
ability
to
sell,
or
realize
the
proceeds
from
the
sale
of,
an
investment
at
a
desirable
time
or
price.
Liquidity
risk
may
arise
because
of,
for
example,
a
lack
of
marketability
of
the
investment,
which
means
that
when
seeking
to
sell
its
portfolio
investments,
the
Fund
could
find
that
selling
is
more
difficult
than
anticipated,
especially
during
times
of
high
market
volatility.
Market
participants
attempting
to
sell
the
same
or
a
similar
instrument
at
the
same
time
as
the
Fund
could
exacerbate
the
Fund’s
exposure
to
liquidity
risk.
The
Fund
may
have
to
accept
a
lower
selling
price
for
the
holding,
sell
other
liquid
or
more
liquid
investments
that
it
might
otherwise
prefer
to
hold
(thereby
increasing
the
proportion
of
the
Fund’s
investments
in
less
liquid
or
illiquid
securities),
or
forego
another
more
appealing
investment
opportunity.
The
liquidity
of
the
Fund
investments
may
change
significantly
over
time
and
certain
investments
that
were
liquid
when
purchased
by
the
Fund
may
later
become
illiquid,
particularly
in
times
of
overall
economic
distress.
Changing
regulatory,
market
or
other
conditions
or
environments
(for
example,
the
interest
rate
or
credit
environments)
may
also
adversely
affect
the
liquidity
and
the
price
of
the
Funds’
investments.
Judgment
plays
a
larger
role
in
valuing
illiquid
or
less
liquid
investments
as
compared
to
valuing
liquid
or
more
liquid
investments.
Price
volatility
may
be
higher
for
illiquid
or
less
liquid
investments
as
a
result
of,
for
example,
the
relatively
less
frequent
pricing
of
such
securities
(as
compared
to
liquid
or
more
liquid
investments).
Generally,
the
less
liquid
the
market
at
the
time
the
Fund
sells
a
portfolio
investment,
the
greater
the
risk
of
loss
or
decline
of
value
to
the
Fund.
Overall
market
liquidity
and
other
factors
can
lead
to
an
increase
in
redemptions,
which
may
negatively
impact
Fund
performance
and
NAV,
including,
for
example,
if
the
Fund
is
forced
to
sell
investments
in
a
down
market.
Market
risk
The
Funds
may
incur
losses
due
to
declines
in
the
value
of
one
or
more
securities
in
which
they
invest.
These
declines
may
be
due
to
factors
affecting
a
particular
issuer,
or
the
result
of,
among
other
things,
political,
regulatory,
market,
economic
or
social
developments
affecting
the
relevant
market(s)
more
generally.
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
Funds’
ability
to
price
or
value
hard-to-value
assets
in
thinly
traded
and
closed
markets
and
could
cause
significant
redemptions
and
operational
challenges.
Global
economies
and
financial
markets
are
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
worldwide.
As
a
result,
local,
regional
or
global
events
such
as
terrorism,
war,
other
conflicts,
natural
disasters,
disease/virus
outbreaks
and
epidemics
or
other
public
health
issues,
recessions,
depressions
or
other
events
–
or
the
potential
for
such
events
–
could
have
a
significant
negative
impact
on
global
economic
and
market
conditions
and
could
result
in
increased
premiums
or
discounts
to
the
Funds’
net
asset
value.
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
March
31,
2025
Active
ETFs
|
2025
31
Non-diversification
risk
A
non-diversified
fund
is
permitted
to
invest
a
greater
percentage
of
its
total
assets
in
fewer
issuers
than
a
diversified
fund.
This
increases
the
risk
that
a
change
in
the
value
of
any
one
investment
held
by
the
Fund
could
affect
the
overall
value
of
the
Fund
more
than
it
would
affect
that
of
a
diversified
fund
holding
a
greater
number
of
investments.
Accordingly,
each
Fund
value
will
likely
be
more
volatile
than
the
value
of
a
more
diversified
fund.
Note
9.
Subsequent
events
Management
has
evaluated
the
events
and
transactions
that
have
occurred
through
the
date
the
financial
statements
were
issued
and
noted
no
items
requiring
adjustment
of
the
financial
statements
or
additional
disclosure.
Note
10.
Information
regarding
pending
and
settled
legal
proceedings
Ameriprise
Financial
and
certain
of
its
affiliates
are
involved,
in
the
normal
course
of
business,
in
legal
proceedings
that
include
regulatory
inquiries,
arbitration
and
litigation
(including
class
actions)
concerning
matters
arising
in
connection
with
the
conduct
of
their
activities
as
part
of
a
diversified
financial
services
firm.
Ameriprise
Financial
believes
that
the
Funds
are
not
currently
the
subject
of,
and
that
neither
Ameriprise
Financial
nor
any
of
its
affiliates
are
the
subject
of,
any
pending
legal,
arbitration
or
regulatory
proceedings
that
are
likely
to
have
a
material
adverse
effect
on
the
Funds
or
the
ability
of
Ameriprise
Financial
or
its
affiliates
to
perform
under
their
contracts
with
the
Funds.
Ameriprise
Financial
is
required
to
make
quarterly
(10-Q),
annual
(10-K)
and,
as
necessary,
8-K
filings
with
the
Securities
and
Exchange
Commission
(SEC)
on
legal
and
regulatory
matters
that
relate
to
Ameriprise
Financial
and
its
affiliates.
Copies
of
these
filings
may
be
obtained
by
accessing
the
SEC
website
at
www.sec.gov.
There
can
be
no
assurance
that
these
matters,
or
the
adverse
publicity
associated
with
them,
will
not
result
in
increased
Fund
redemptions,
reduced
sale
of
Fund
shares
or
other
adverse
consequences
to
the
Funds.
Further,
although
we
believe
proceedings
are
not
likely
to
have
a
material
adverse
effect
on
the
Funds
or
the
ability
of
Ameriprise
Financial
or
its
affiliates
to
perform
under
their
contracts
with
the
Funds,
these
proceedings
are
subject
to
uncertainties
and,
as
such,
it
is
inherently
difficult
to
determine
whether
any
loss
is
probable
or
even
reasonably
possible,
or
to
reasonably
estimate
the
amount
of
any
loss
that
may
result
from
such
matters.
An
adverse
outcome
in
one
or
more
of
these
proceedings
could
result
in
adverse
judgments,
settlements,
fines,
penalties
or
other
relief,
and
may
lead
to
further
claims,
examinations,
adverse
publicity
or
reputational
damage,
each
of
which
could
have
a
material
adverse
effect
on
the
consolidated
financial
condition
or
results
of
operations
or
financial
condition
of
Ameriprise
Financial
or
one
or
more
of
its
affiliates
that
provide
services
to
the
Funds.
32
Active
ETFs
|
2025
REPORT
OF
INDEPENDENT
REGISTERED
PUBLIC
ACCOUNTING
FIRM
To
the
Board
of
Trustees
of
Columbia
ETF
Trust
I
and
Shareholders
of
Columbia
Short
Duration
High
Yield
ETF
and
Columbia
U.S.
High
Yield
ETF
Opinions
on
the
Financial
Statements
We
have
audited
the
accompanying
statements
of
assets
and
liabilities,
including
the
portfolios
of
investments,
of
Columbia
Short
Duration
High
Yield
ETF
and
Columbia
U.S.
High
Yield
ETF
(two
of
the
funds
constituting
Columbia
ETF
Trust
I,
hereafter
collectively
referred
to
as
the
"Funds")
as
of
March
31,
2025,
the
related
statements
of
operations
and
changes
in
net
assets,
including
the
related
notes,
and
the
financial
highlights
for
the
period
September
5,
2024
(commencement
of
operations)
through
March
31,
2025
(collectively
referred
to
as
the
“financial
statements”).
In
our
opinion,
the
financial
statements
present
fairly,
in
all
material
respects,
the
financial
position
of
each
of
the
Funds
as
of
March
31
2025,
and
the
results
of
each
of
their
operations,
changes
in
each
of
their
net
assets,
and
each
of
the
financial
highlights
for
the
period
September
5,
2024
(commencement
of
operations)
through
March
31,
2025
in
conformity
with
accounting
principles
generally
accepted
in
the
United
States
of
America.
Basis
for
Opinions
These
financial
statements
are
the
responsibility
of
the
Funds’
management.
Our
responsibility
is
to
express
an
opinion
on
the
Funds’
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
Funds
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
of
these
financial
statements
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.
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
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.
Our
procedures
included
confirmation
of
securities
owned
as
of
March
31,
2025
by
correspondence
with
the
custodian.
We
believe
that
our
audits
provide
a
reasonable
basis
for
our
opinions.
/s/PricewaterhouseCoopers
LLP
Minneapolis,
Minnesota
May
22,
2025
We
have
served
as
the
auditor
of
one
or
more
investment
companies
within
the
Columbia
Funds
Complex
since
1977.
Columbia
ETF
Trust
I
290
Congress
Street
Boston,
MA
02210
ANN338_03_R01_(05/25)
Investors
should
consider
the
investment
objectives,
risks,
charges
and
expenses
of
an
exchange-traded
fund
(ETF)
carefully
before
investing.
For
a
free
prospectus
and
summary
prospectus,
which
contains
this
and
other
important
information
about
the
ETFs,
visit
columbiathreadneedleus.com/etfs.
Read
the
prospectus
and
summary
prospectus
carefully
before
investing.
Columbia
Management
Investment
Advisers,
LLC
serves
as
the
investment
manager
to
the
ETFs.
The
ETFs
are
distributed
by
ALPS
Distributors,
Inc.
,
which
is
not
affiliated
with
Columbia
Management
Investment
Advisers,
LLC,
or
its
parent
company,
Ameriprise
Financial,
Inc.
©
2025
Columbia
Management
Investment
Advisers,
LLC.
columbiathreadneedleus.com/etfs

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Columbia Management Investment Advisers, LLC, the funds’ investment advisor, is responsible for bearing expenses associated with Independent Trustees’ compensation pursuant to the management fee arrangement with each Fund. Refer to the Registrant’s financial statements included on Item 7 of this Form N-CSR for further detail.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

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 were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors implemented since the registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or Item 15 of Form N-CSR.

Item 16. Controls and Procedures.

(a)The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b)There was no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

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

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19. Exhibits.

(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR attached hereto as Exhibit 99.CODE ETH.

(a)(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.

(b)Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.


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)

Columbia ETF Trust I

By (Signature and Title)

/s/ Daniel J. Beckman

 

Daniel J. Beckman, President and Principal Executive Officer

Date

May 22, 2025

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/ Daniel J. Beckman

 

Daniel J. Beckman, President and Principal Executive Officer

Date

May 22, 2025

By (Signature and Title)

/s/ Michael G. Clarke

 

Michael G. Clarke, Chief Financial Officer,

 

Principal Financial Officer and Senior Vice President

Date

May 22, 2025

By (Signature and Title)

/s/ Marybeth Pilat

 

Marybeth Pilat, Treasurer, Chief Accounting

 

Officer and Principal Financial Officer

Date

May 22, 2025