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        <fairValLevel>2</fairValLevel>
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        <name>NORTHEAST OHIO MED UNIV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GUAM GOVT</name>
        <lei>N/A</lei>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>COLUMBUS-FRANKLIN CNTY OHIO FIN AUTH</name>
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        <cusip>199097JR8</cusip>
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          <isin value="US199097JR87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT GTR CINCINNATI DEV AUTH OHIO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Putnam Investment Fund.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GUAM PORT AUTH</name>
        <lei>N/A</lei>
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        <cusip>400652AP8</cusip>
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          <isin value="US400652AP87"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CUYAHOGA CNTY OHIO</name>
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        <title>OH CUYDEV 5 01/01/2037</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BEDFORD OHIO CITY SCH DIST</name>
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        <title>OH BEDSCD 5.5 12/01/2058</title>
        <cusip>076365LZ6</cusip>
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          <isin value="US076365LZ62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>OH OHSEDU 4 10/01/2047</title>
        <cusip>67756DZU3</cusip>
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        <name>HILLIARD OHIO</name>
        <lei>N/A</lei>
        <title>OH HILGEN 5 12/01/2052</title>
        <cusip>43162CAZ0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>GRAYS HARBOR COUNTY PUBLIC UTILITY DISTRICT N.1 (WA)</name>
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        <cusip>389526AG9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY (OH)</name>
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        <title>OH CLETRN 5 11/15/2054</title>
        <cusip>186103MA2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RICKENBACHER OHIO PORT AUTH</name>
        <lei>N/A</lei>
        <title>OH RKBTRN 5.38 01/01/2032</title>
        <cusip>765639AB5</cusip>
        <identifiers>
          <isin value="US765639AB53"/>
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        <balance>565000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>GUAM PORT AUTH</name>
        <lei>N/A</lei>
        <title>GU GMSTRN 5 07/01/2033</title>
        <cusip>400652AK9</cusip>
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          <isin value="US400652AK90"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SUMMIT CNTY OHIO DEV FIN AUTH</name>
        <lei>N/A</lei>
        <title>OH SUMHSG 5 07/01/2045</title>
        <cusip>86607LAM1</cusip>
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          <isin value="US86607LAM19"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CENTERVILLE OHIO</name>
        <lei>N/A</lei>
        <title>OH CTVMED 5.25 11/01/2050</title>
        <cusip>152241BA2</cusip>
        <identifiers>
          <isin value="US152241BA21"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>479351.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>BEAUMONT TEX HSG AUTH</name>
        <lei>N/A</lei>
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        <cusip>07451AAA4</cusip>
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          <isin value="US07451AAA43"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OHIO ST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLUMBUS OHIO MET LIBR</name>
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        <cusip>199520CF2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>BUCKEYE OHIO TOB SETTLEMENT FING AUTH</name>
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        <cusip>118217CW6</cusip>
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          <isin value="US118217CW66"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>PORT GTR CINCINNATI DEV AUTH OHIO</name>
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        <cusip>734195FA3</cusip>
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        <balance>300000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
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        <title>OH OHSEDU 5.25 05/01/2054</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CLEVELAND (OH), CITY OF</name>
        <lei>549300IQSLQPCVVMKJ96</lei>
        <title>OH CLEPWR 4 11/15/2036</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>WARREN CNTY OHIO</name>
        <lei>N/A</lei>
        <title>OH WARMED 5 07/01/2049</title>
        <cusip>93515PEL7</cusip>
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        <balance>1000000.00000000</balance>
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        <valUSD>1009509.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>GREEN OHIO LOC SCH DIST</name>
        <lei>N/A</lei>
        <title>OH GEESCD 5.5 11/01/2047</title>
        <cusip>393190GQ0</cusip>
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          <isin value="US393190GQ03"/>
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        <balance>650000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>CLEVELAND OHIO</name>
        <lei>549300IQSLQPCVVMKJ96</lei>
        <title>OH CLE 3 12/01/2034</title>
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          <isin value="US1863432R96"/>
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        <balance>1250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>ASHLAND OHIO CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>OH ASHSCD 3 11/01/2042</title>
        <cusip>044465HH8</cusip>
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          <isin value="US044465HH83"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>OH OHSEDU 5 11/01/2048</title>
        <cusip>67756DQ33</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>UPPER ARLINGTON (OH), CITY OF</name>
        <lei>5493002KHBEUI9TNXM57</lei>
        <title>OH UPPGEN 5 12/01/2053</title>
        <cusip>915515AZ3</cusip>
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          <isin value="US915515AZ30"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>OHIO VALLEY ELECTRIC CORP</name>
        <lei>549300MA7EMERVYDHS24</lei>
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        <cusip>677525XD4</cusip>
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          <isin value="US677525XD41"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-30</maturityDt>
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        <name>NORTHEAST OHIO MED UNIV</name>
        <lei>N/A</lei>
        <title>OH NORHGR 5 12/01/2029</title>
        <cusip>66433RBA5</cusip>
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          <isin value="US66433RBA59"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALASKA INDL DEV &amp; EXPT AUTH</name>
        <lei>N/A</lei>
        <title>AK AKSDEV 5 10/01/2030</title>
        <cusip>011903FZ9</cusip>
        <identifiers>
          <isin value="US011903FZ90"/>
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        <valUSD>700225.05000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CUYAHOGA CNTY OHIO</name>
        <lei>549300GHDK9DGLUNJU89</lei>
        <title>OH CUYDEV 5 01/01/2041</title>
        <cusip>232263KR3</cusip>
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          <isin value="US232263KR32"/>
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        <curCd>USD</curCd>
        <valUSD>1498486.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAKE CNTY OHIO CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>OH LAKHGR 4 10/01/2035</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GUAM GOVT WTRWKS AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HAMILTON CNTY OHIO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>HAMILTON CNTY OHIO</name>
        <lei>549300TO1E3N4E4YIO28</lei>
        <title>OH HAMMED 5 01/01/2046</title>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AKRON BATH COPLEY OHIO JT TWP HOSP DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FRANKLIN CNTY OHIO</name>
        <lei>549300VCBUC1RZE7KL42</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MIAMI CNTY OHIO</name>
        <lei>549300YAYSF4ZQH3JU54</lei>
        <title>OH MIAMED 5 08/01/2049</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>GUAM PORT AUTH</name>
        <lei>N/A</lei>
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          <isin value="US400652AN30"/>
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        <name>OAKWOOD OHIO CITY SCH DIST</name>
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        <name>ILLINOIS ST</name>
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        <name>DAYTON-MONTGOMERY CNTY OHIO PORT AUTH</name>
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        <name>CLEVELAND (OH), CITY OF</name>
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        <name>FRANKLIN CNTY OHIO CONVENTION FACS AUTH</name>
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        <name>AKRON BATH COPLEY OHIO JT TWP HOSP DIST</name>
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        <name>OHIO STATE HIGHER EDUCATIONAL FACILITY COMMISSION (OH)</name>
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        <name>BASTROP TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>070329W37</cusip>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GREEN OHIO LOC SCH DIST</name>
        <lei>N/A</lei>
        <title>OH GEESCD 5 11/01/2052</title>
        <cusip>393190HM8</cusip>
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        <valUSD>1229599.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OHIO ST HIGHER EDL FAC COMMN</name>
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        <curCd>USD</curCd>
        <valUSD>2110672.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH</name>
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          <isin value="US18611HAB15"/>
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        <curCd>USD</curCd>
        <valUSD>370200.37000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
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        <title>OH OHSEDU 3 02/01/2037</title>
        <cusip>67756DYJ9</cusip>
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          <isin value="US67756DYJ98"/>
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        <curCd>USD</curCd>
        <valUSD>1501974.07000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>GREENE CNTY OHIO PORT AUTH</name>
        <lei>N/A</lei>
        <title>OH GREDEV 5 05/15/2055</title>
        <cusip>39465WAA3</cusip>
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          <isin value="US39465WAA36"/>
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        <curCd>USD</curCd>
        <valUSD>981708.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLEVELAND-CUYAHOGA CNTY OHIO PORT AUTH</name>
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        <title>OH CLETRN 4 07/01/2046</title>
        <cusip>18610PBQ0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ALASKA INDL DEV &amp; EXPT AUTH</name>
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        <title>AK AKSDEV 5 10/01/2031</title>
        <cusip>011903GA3</cusip>
        <identifiers>
          <isin value="US011903GA31"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>537399.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY (OH)</name>
        <lei>549300KI3FXFLUKF3A98</lei>
        <title>OH CLETRN 5.5 08/01/2047</title>
        <cusip>186103LR6</cusip>
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          <isin value="US186103LR66"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1054234.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FRANKLIN CNTY OHIO</name>
        <lei>549300VCBUC1RZE7KL42</lei>
        <title>OH FRAMED 5 11/15/2044</title>
        <cusip>353180JQ6</cusip>
        <identifiers>
          <isin value="US353180JQ63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000003.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DAYTON-MONTGOMERY CNTY OHIO PORT AUTH</name>
        <lei>N/A</lei>
        <title>OH DAYTRN 5 12/01/2054</title>
        <cusip>23981MBF2</cusip>
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          <isin value="US23981MBF23"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>993155.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>GREEN OHIO LOC SCH DIST</name>
        <lei>N/A</lei>
        <title>OH GEESCD 4.62 11/01/2047</title>
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          <isin value="US393190HL07"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
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      <invstOrSec>
        <name>COLUMBUS OHIO MET HSG AUTH</name>
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        <title>OH COLHSG 4 06/01/2034</title>
        <cusip>19951AAR7</cusip>
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          <isin value="US19951AAR77"/>
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          <maturityDt>2034-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>PUERTO RICO COMWLTH</name>
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          <isin value="US74514L3M75"/>
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        <balance>250000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>SUMMIT CNTY OHIO</name>
        <lei>N/A</lei>
        <title>OH SUM 5 12/01/2043</title>
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          <isin value="US86606WBX39"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CLEVELAND (OH), CITY OF</name>
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        <title>OH CLVPOL 5 11/15/2054</title>
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        <name>FRANKLIN CNTY OHIO</name>
        <lei>549300VCBUC1RZE7KL42</lei>
        <title>OH FRAMED 4 07/01/2040</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLUMBUS OHIO REGL ARPT AUTH</name>
        <lei>N/A</lei>
        <title>OH COLAPT 5.25 01/01/2055</title>
        <cusip>199546DX7</cusip>
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          <isin value="US199546DX74"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OHIO WATER DEVELOPMENT AUTHORITY (OH)</name>
        <lei>549300QMBH1DMY67FZ74</lei>
        <title>OH OHSPOL 5 12/01/2044</title>
        <cusip>67766WT44</cusip>
        <identifiers>
          <isin value="US67766WT448"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1108811.70000000</valUSD>
        <pctVal>1.675842628167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OHIO ST HIGHER EDL FAC COMMN</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>OH OHSEDU 6 09/01/2052</title>
        <cusip>67756DJ98</cusip>
        <identifiers>
          <isin value="US67756DJ986"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405342.56000000</valUSD>
        <pctVal>0.612629124546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORT GTR CINCINNATI DEV AUTH OHIO</name>
        <lei>549300IK2RCZBY62ST97</lei>
        <title>OH PRTDEV 5.25 12/01/2063</title>
        <cusip>734195FB1</cusip>
        <identifiers>
          <isin value="US734195FB19"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>787791.00000000</valUSD>
        <pctVal>1.190656393584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>



    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Putnam ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer Controller, US Fund Administration and Oversight</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
