# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0001752724-23-069737
**Filing Date:** 2023-3
**Character Count:** 158272
**Document Hash:** a08d970eb2e1e32e4ca15b459969d353
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069737.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069737

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IndexIQ Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 23767973

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 888-474-7725

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### IQ MacKay Municipal Insured ETF (Series ID: S000057660)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000184310 | IQ MacKay Municipal Insured ETF | MMIN            |

## Nport-Ex

Schedule of Investments ─ IQ MacKay Municipal Insured ETF

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds — 95.6%** | **Municipal Bonds — 95.6%** | |
| **Alabama — 1.9%** | **Alabama — 1.9%** | |
| Black Belt Energy Gas District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series C-2 |  |  |
| &nbsp;&nbsp;&nbsp;2.010%, (Municipal Swap Index + 0.35%), due 10/1/52<sup>(a)</sup> | $2500000 | $2395077 |
| Mobile County Board of School Commissioners, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/26 | 1325000 | 1424202 |
| &nbsp;&nbsp;&nbsp; Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/40 | 2645000 | 2951977 |
|  |  | 6771256 |
| **Alaska — 0.4%** |  |  |
| University of Alaska, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM-CR |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/44 | 1365000 | 1425202 |
| **Arizona — 0.6%** |  |  |
| Maricopa County Unified School District No 60 Higley, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 6/1/42 | 500000 | 506199 |
| &nbsp;&nbsp;&nbsp;4.250%, due 6/1/47 | 1500000 | 1514218 |
|  |  | 2020417 |
| **California — 8.4%** |  |  |
| Anaheim City School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/1/48 | 1000000 | 1011449 |
| California Health Facilities Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/49 | 1850000 | 1893177 |
| City of Long Beach CA Airport System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series C Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/42 | 1000000 | 1080080 |
| City of San Mateo CA, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 9/1/37 | 4460000 | 5028550 |
| Fontana Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, due 8/1/44 | 2500000 | 1832336 |
| Foothill-De Anza Community College District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: NATL-IBC FGIC |  |  |
| &nbsp;&nbsp;&nbsp;2.640%, due 8/1/29<sup>(b)</sup> | 1050000 | 885231 |
| Grossmont Union High School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series F Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.280%, due 8/1/34<sup>(b)</sup> | 2445000 | 1440913 |
| Indian Wells Redevelopment Agency Successor Agency, Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/33 | 1240000 | 1343746 |
| Indio Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 11/1/42 | 1500000 | 1717239 |
| Kelseyville Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series C Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.170%, due 8/1/31<sup>(b)</sup> | 155000 | 116759 |
| Ontario Montclair School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.070%, due 8/1/29<sup>(b)</sup> | 390000 | 319867 |
| Poway Unified School District, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 9/1/47 | 400000 | 406296 |
| Riverbank Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGC |  |  |
| &nbsp;&nbsp;&nbsp;4.510%, due 8/1/48<sup>(b)</sup> | 50000 | 16050 |
| Sacramento City Financing Authority, Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;2.690%, due 12/1/23<sup>(b)</sup> | 5000000 | 4890033 |
| Sacramento City Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;2.680%, due 7/1/24<sup>(b)</sup> | 310000 | 298524 |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/41 | 1865000 | 2092810 |
| &nbsp;&nbsp;&nbsp; Series C-1 Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/25 | 200000 | 212861 |
| San Mateo County Community College District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;2.260%, due 9/1/25<sup>(b)</sup> | 145000 | 136824 |
| Sweetwater Union High School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/1/42 | 965000 | 970150 |
| Vista Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 8/1/41 | 3000000 | 3479599 |
| West Contra Costa Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series D Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.310%, due 8/1/33<sup>(b)</sup> | 2010000 | 1423328 |
|  |  | 30595822 |
| **Colorado — 3.1%** |  |  |
| BNC Metropolitan District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/37 | 395000 | 433348 |
| Castle Oaks Metropolitan District No 3, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/45 | 3000000 | 2993050 |
| Crystal Valley Metropolitan District No 2, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/44 | 1700000 | 1684670 |
| Gold Hill Mesa Metropolitan District No 2, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/47 | 600000 | 667207 |
| Grand Junction Regional Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/26 | 500000 | 543324 |
| Grand River Hospital District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 12/1/37 | 425000 | 453591 |
| Northern Colorado Water Conservancy District, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/42 | 625000 | 695488 |
| Park 70 Metropolitan District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/46 | 450000 | 457518 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Colorado (continued)** |  |  |
| Park Creek Metropolitan District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/46 | $3255000 | $3177733 |
| Vauxmont Metropolitan District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/15/31 | 135000 | 145383 |
|  |  | 11251312 |
| **Connecticut — 1.0%** |  |  |
| City of Hartford CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 7/1/34 | 25000 | 25732 |
| &nbsp;&nbsp;&nbsp;5.000%, due 4/1/23 | 220000 | 220464 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/24 | 20000 | 20708 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/27 | 60000 | 63753 |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/23 | 15000 | 15247 |
| &nbsp;&nbsp;&nbsp; Series C Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/15/24 | 1000000 | 1036433 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/15/32 | 20000 | 21205 |
| City of New Britain CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 9/1/30 | 100000 | 113337 |
| City of New Haven CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/28 | 1000000 | 1037323 |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/39 | 1150000 | 1243354 |
|  |  | 3797556 |
| **District of Columbia — 0.8%** |  |  |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.340%, due 10/1/37<sup>(b)</sup> | 1500000 | 799451 |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/53 | 2000000 | 1942459 |
|  |  | 2741910 |
| **Florida — 3.2%** |  |  |
| County of Broward FL Tourist Development Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 9/1/51 | 1340000 | 1285058 |
| County of Miami-Dade Seaport Department, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-2 Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 10/1/50 | 5000000 | 3893921 |
| Fort Pierce Utilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/40 | 500000 | 563785 |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/41 | 500000 | 562879 |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/42 | 400000 | 450420 |
| Miami-Dade County Expressway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/26 | 3180000 | 3279161 |
| School Board of Miami-Dade County (The), General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/15/39 | 1645000 | 1741217 |
|  |  | 11776441 |
| **Georgia — 1.1%** |  |  |
| DeKalb Newton & Gwinnett Counties Joint Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/39 | 2250000 | 2253749 |
| Municipal Electric Authority of Georgia, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 1/1/46 | 1660000 | 1628578 |
|  |  | 3882327 |
| **Idaho — 0.5%** |  |  |
| Idaho Housing & Finance Association, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/52 | 1000000 | 1031111 |
| &nbsp;&nbsp;&nbsp;5.250%, due 5/1/42 | 800000 | 863152 |
|  |  | 1894263 |
| **Illinois — 21.0%** |  |  |
| Boone, McHenry & DeKalb Counties Community Unit School District 100, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BHAC-CR NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;2.710%, due 12/1/23<sup>(b)</sup> | 395000 | 386249 |
| Chicago Board of Education, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGC-ICC FGIC |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/26 | 1575000 | 1672188 |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/31 | 500000 | 537802 |
| Chicago O'Hare International Airport, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 1/1/45 | 3585000 | 3898827 |
| Chicago Park District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series E Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 11/15/32 | 1000000 | 1038046 |
| Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/50 | 4750000 | 4553630 |
| City of Chicago IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 1/1/35 | 775000 | 759354 |
| &nbsp;&nbsp;&nbsp;4.000%, due 1/1/36 | 2500000 | 2425986 |
| City of Chicago IL Wastewater Transmission Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.170%, due 1/1/27<sup>(b)</sup> | 1300000 | 1149167 |
| City of Chicago IL Waterworks Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/44 | 3220000 | 3258948 |
| City of Decatur IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 3/1/40 | 2805000 | 2854371 |
| &nbsp;&nbsp;&nbsp;4.000%, due 3/1/42 | 3000000 | 3043751 |
| City of Joliet IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/15/44 | 3805000 | 4387134 |
| City of Kankakee IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 1/1/35 | 715000 | 761278 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois (continued)** |  |  |
| City of Rock Island IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/36 | $1435000 | $1470211 |
| City of Waukegan IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/30/36 | 1015000 | 1044682 |
| County of Cook IL Sales Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 11/15/40 | 780000 | 785477 |
| Crawford Hospital District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 1/1/34 | 675000 | 719355 |
| Illinois Sports Facilities Authority (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;3.240%, due 6/15/23<sup>(b)</sup> | 500000 | 494054 |
| Illinois State Toll Highway Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/45 | 2050000 | 2231507 |
| La Salle County Community Unit School District No 2 Serena, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/38 | 1825000 | 2123594 |
| &nbsp;&nbsp;&nbsp;5.500%, due 10/1/42 | 1260000 | 1448315 |
| Macon County School District No 61 Decatur, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/40 | 1305000 | 1386366 |
| Madison County Community Unit School District No 7 Edwardsville, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/30 | 275000 | 293801 |
| Madison-Macoupin Etc Counties Community College District No 536, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/32 | 225000 | 244414 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.640%, due 6/15/45<sup>(b)</sup> | 720000 | 258123 |
| &nbsp;&nbsp;&nbsp;4.700%, due 6/15/47<sup>(b)</sup> | 225000 | 72599 |
| Northern Illinois University, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/32 | 500000 | 520760 |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/37 | 550000 | 551674 |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/39 | 425000 | 420993 |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/40 | 400000 | 389742 |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/41 | 400000 | 386810 |
| &nbsp;&nbsp;&nbsp; Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 4/1/37 | 1425000 | 1429907 |
| Sangamon & Morgan Counties Community Unit School District No 16 New Berlin, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/43 | 1440000 | 1564756 |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/46 | 1800000 | 1942667 |
| Sangamon County School District No 186 Springfield, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 2/1/29 | 3000000 | 3237566 |
| Southern Illinois University, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 4/1/40 | 1000000 | 982401 |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, due 4/1/25<sup>(b)</sup> | 390000 | 359449 |
| State of Illinois, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, due 5/1/45 | 1000000 | 1073696 |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/41 | 3715000 | 3608955 |
| &nbsp;&nbsp;&nbsp; Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 11/1/26 | 500000 | 531408 |
| Town of Cicero IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/30 | 475000 | 516557 |
| Union Alexander Massac Pulaski Etc Counties Community College District No 531, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/24 | 1115000 | 1159442 |
| Village of Bourbonnais IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/32 | 520000 | 553454 |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 12/1/46 | 1000000 | 1119135 |
| Village of McCook IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/25 | 1575000 | 1676006 |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/26 | 1875000 | 2016889 |
| Will County Community Unit School District No 201-U Crete-Monee, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series 201-U Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 9/1/42 | 3735000 | 4161079 |
| Will County School District No 114 Manhattan, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/1/45 | 3765000 | 4293233 |
| Williamson County Community Unit School District No 1 Johnston City, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, due 12/1/26<sup>(b)</sup> | 590000 | 524467 |
| &nbsp;&nbsp;&nbsp;3.110%, due 12/1/25<sup>(b)</sup> | 590000 | 540609 |
|  |  | 76860884 |
| **Indiana — 1.2%** |  |  |
| Evansville Waterworks District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 1/1/49 | 1000000 | 1020664 |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/47 | 2000000 | 2201262 |
| Greater Clark Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: ST INTERCEPT |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 7/15/34 | 1000000 | 1270197 |
|  |  | 4492123 |
| **Iowa — 3.3%** |  |  |
| Burlington Community School District Infrastructure Sales Services & Use Tax, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/41 | 1940000 | 1946652 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Iowa (continued)** |  |  |
| City of Orange City IA Water Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/37 | $650000 | $665243 |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/39 | 700000 | 709716 |
| &nbsp;&nbsp;&nbsp;4.250%, due 6/1/42 | 1165000 | 1191728 |
| Clinton Community School District Infrastructure Sales Services & Use Tax, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 7/1/41 | 2100000 | 2114239 |
| Jesup Community School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 6/1/31 | 580000 | 588504 |
| &nbsp;&nbsp;&nbsp;3.250%, due 6/1/32 | 600000 | 614928 |
| &nbsp;&nbsp;&nbsp;3.375%, due 6/1/33 | 620000 | 637571 |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/40 | 805000 | 811795 |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/41 | 835000 | 842112 |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/42 | 870000 | 875088 |
| West Delaware County Community School District Sales & Services Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 6/1/41 | 325000 | 328928 |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/26 | 170000 | 183572 |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/27 | 350000 | 385381 |
|  |  | 11895457 |
| **Kentucky — 1.4%** |  |  |
| Kentucky Bond Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/38 | 1045000 | 1162160 |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/49 | 1000000 | 1088533 |
| Kentucky Economic Development Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/37 | 500000 | 489068 |
| Louisville & Jefferson County Metropolitan Government, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/15/47 | 1015000 | 1081189 |
| Louisville & Jefferson County Visitors and Convention Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/36 | 100000 | 102632 |
| Woodford County School District Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 8/1/28 | 1040000 | 1227866 |
|  |  | 5151448 |
| **Louisiana — 0.3%** |  |  |
| City of Shreveport LA Water & Sewer Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/25 | 535000 | 567806 |
| &nbsp;&nbsp;&nbsp; Series C Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/31 | 500000 | 557012 |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/32 | 125000 | 138989 |
|  |  | 1263807 |
| **Maine — 0.7%** |  |  |
| Finance Authority of Maine, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 Insured: AGC |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/26 | 150000 | 160788 |
| Maine Health & Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 7/1/40 | 1180000 | 1341795 |
| &nbsp;&nbsp;&nbsp;5.500%, due 7/1/42 | 1000000 | 1131408 |
|  |  | 2633991 |
| **Massachusetts — 1.1%** |  |  |
| City of Brockton MA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/1/47 | 3180000 | 3167225 |
| Commonwealth of Massachusetts, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;3.545%, (3-Month LIBOR + 0.57%), due 5/1/37<sup>(a)</sup> | 85000 | 83501 |
| Commonwealth of Massachusetts, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/1/25 | 580000 | 611266 |
|  |  | 3861992 |
| **Michigan — 0.8%** |  |  |
| Grand Rapids Public Schools, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/25 | 785000 | 836482 |
| Wayne County Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/46 | 1790000 | 1901656 |
|  |  | 2738138 |
| **Mississippi — 0.1%** |  |  |
| Mississippi Development Bank, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 10/1/38 | 460000 | 507064 |
| **Missouri — 2.0%** |  |  |
| City of St Louis MO Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 7/1/28 | 400000 | 463795 |
| Hazelwood School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/38 | 3000000 | 3400708 |
| Hickman Mills C-1 School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, due 3/1/41 | 1960000 | 2263900 |
| Wright City R-II School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 3/1/42 | 1000000 | 1227197 |
|  |  | 7355600 |
| **Nebraska — 0.1%** |  |  |
| Ashland-Greenwood Public Schools, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/15/34 | 490000 | 533786 |
| **Nevada — 1.1%** |  |  |
| City of Reno NV, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/1/46 | 1150000 | 1122586 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Nevada (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/32 | $265000 | $287030 |
| Clark County School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/15/26 | 2450000 | 2666921 |
|  |  | 4076537 |
| **New Jersey — 2.0%** |  |  |
| City of Union City NJ, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;0.050%, due 8/1/24 | 540000 | 510381 |
| Kenilworth School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM SCH BD RES FD |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/15/39 | 1325000 | 1346034 |
| &nbsp;&nbsp;&nbsp;4.250%, due 8/15/45 | 1450000 | 1485855 |
| New Jersey Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series F Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/25 | 300000 | 318730 |
| South Jersey Transportation Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/36 | 500000 | 562308 |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/1/37 | 500000 | 558367 |
| &nbsp;&nbsp;&nbsp;5.250%, due 11/1/52 | 2250000 | 2478629 |
|  |  | 7260304 |
| **New York — 6.3%** |  |  |
| Amherst Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/42 | 3905000 | 3881330 |
| Canton Central School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 6/15/28 | 955000 | 1035051 |
| City of Long Beach NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 7/15/35 | 400000 | 445582 |
| &nbsp;&nbsp;&nbsp;5.250%, due 7/15/36 | 300000 | 330770 |
| &nbsp;&nbsp;&nbsp;5.250%, due 7/15/37 | 325000 | 355505 |
| &nbsp;&nbsp;&nbsp;5.250%, due 7/15/42 | 1800000 | 1946845 |
| City of New York NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/1/44 | 1085000 | 1083208 |
| City of Yonkers NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series G Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/26 | 335000 | 367757 |
| County of Nassau NY, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 4/1/47 | 3525000 | 3540491 |
| Metropolitan Transportation Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 11/15/46 | 600000 | 543292 |
| &nbsp;&nbsp;&nbsp;5.000%, due 11/15/29 | 500000 | 522395 |
| &nbsp;&nbsp;&nbsp; Series B Insured: AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 11/15/23 | 1250000 | 1268502 |
| &nbsp;&nbsp;&nbsp;5.250%, due 11/15/24 | 1145000 | 1185362 |
| &nbsp;&nbsp;&nbsp; Series E |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 11/15/45 | 450000 | 410221 |
| New York City Industrial Development Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;7.970%, due 3/1/24<sup>(a),(c)</sup> | 1500000 | 1533619 |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 3/1/49 | 1265000 | 976241 |
| New York Convention Center Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 11/15/38<sup>(b)</sup> | 375000 | 193177 |
| New York Liberty Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 2/15/43 | 1480000 | 1466906 |
| New York State Dormitory Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/1/36 | 5000 | 5472 |
| Oneida County Local Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/49 | 700000 | 667452 |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 12/1/44 | 405000 | 325115 |
| Port Authority of New York & New Jersey, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series 231 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 8/1/52 | 765000 | 848476 |
|  |  | 22932769 |
| **North Carolina — 2.2%** |  |  |
| Greater Asheville Regional Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 7/1/41 | 3250000 | 3593499 |
| North Carolina Eastern Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 1/1/25 | 1000000 | 1063761 |
| North Carolina Turnpike Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 1/1/49 | 3325000 | 3496669 |
|  |  | 8153929 |
| **Ohio — 3.1%** |  |  |
| City of Toledo OH, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/42 | 3000000 | 3459076 |
| Cloverleaf Local School District, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 12/1/39 | 1780000 | 1949824 |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/42 | 955000 | 1046240 |
| County of Cuyahoga OH, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/15/28 | 500000 | 530649 |
| Green Local School District/Summit County, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 11/1/47 | 3000000 | 3355111 |
| State of Ohio, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/24 | 1065000 | 1107916 |
|  |  | 11448816 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Oregon — 0.6%** |  |  |
| City of Seaside OR Transient Lodging Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/15/37 | $400000 | $437550 |
| Multnomah County School District No 1 Portland, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: SCH BD GTY |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/15/24 | 1655000 | 1715806 |
|  |  | 2153356 |
| **Pennsylvania — 6.2%** |  |  |
| Bucks County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM-CR |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 8/15/53 | 3555000 | 2656054 |
| &nbsp;&nbsp;&nbsp;4.000%, due 8/15/44 | 1030000 | 1035059 |
| City of Philadelphia PA Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 7/1/39 | 1335000 | 1330480 |
| Coatesville School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/25 | 300000 | 318841 |
| Delaware Valley Regional Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;5.700%, due 7/1/27 | 1000000 | 1128037 |
| Erie Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/35 | 460000 | 522158 |
| Indiana County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/31 | 870000 | 984080 |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/33 | 575000 | 646368 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 6/30/42 | 3000000 | 3339220 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGC |  |  |
| &nbsp;&nbsp;&nbsp;3.785%, (3-Month LIBOR + 0.60%), due 7/1/27<sup>(a)</sup> | 135000 | 132911 |
| Pennsylvania Turnpike Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/1/44 | 1595000 | 1689400 |
| &nbsp;&nbsp;&nbsp; Series B-2 Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 6/1/35 | 1000000 | 1093462 |
| &nbsp;&nbsp;&nbsp; Series C Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, due 6/1/33 | 450000 | 507965 |
| Pittsburgh Water & Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/37 | 1350000 | 1532399 |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/38 | 1420000 | 1607343 |
| School District of Philadelphia (The), General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series F Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/27 | 5000 | 5481 |
| Sports & Exhibition Authority of Pittsburgh and Allegheny County, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/1/31 | 1165000 | 1312322 |
| State Public School Building Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/27 | 375000 | 416603 |
| &nbsp;&nbsp;&nbsp;5.250%, due 10/1/44 | 1205000 | 1325400 |
| Westmoreland County Municipal Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/15/38 | 1115000 | 1161868 |
|  |  | 22745451 |
| **Puerto Rico — 0.1%** |  |  |
| Puerto Rico Electric Power Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series PP Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/24 | 25000 | 25030 |
| &nbsp;&nbsp;&nbsp; Series UU Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.705%, (3-Month LIBOR + 0.52%), due 7/1/29<sup>(a)</sup> | 510000 | 461594 |
|  |  | 486624 |
| **South Carolina — 1.5%** |  |  |
| South Carolina Public Service Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 12/1/37 | 2000000 | 2275352 |
| &nbsp;&nbsp;&nbsp;5.750%, due 12/1/52 | 600000 | 676750 |
| Spartanburg County School District No 4, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: SCSDE |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/42 | 2205000 | 2503635 |
|  |  | 5455737 |
| **South Dakota — 2.6%** |  |  |
| Baltic School District No 49-1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 12/1/47 | 1780000 | 1996685 |
| &nbsp;&nbsp;&nbsp;5.500%, due 12/1/51 | 3080000 | 3495886 |
| City of Brandon SD Water Utility Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 8/1/42 | 1470000 | 1523529 |
| &nbsp;&nbsp;&nbsp;5.500%, due 8/1/47 | 1000000 | 1145116 |
| De Smet School District No 38-2, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 8/1/47 | 1300000 | 1436938 |
|  |  | 9598154 |
| **Tennessee — 0.2%** |  |  |
| Chattanooga Health Educational & Housing Facility Board, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 10/1/27 | 550000 | 559977 |
| **Texas — 11.6%** |  |  |
| Belmont Fresh Water Supply District No 1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 3/1/40 | 695000 | 696544 |
| &nbsp;&nbsp;&nbsp;4.000%, due 3/1/43 | 2280000 | 2256097 |
| City of Arlington TX Special Tax Revenue, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/15/37 | 1500000 | 1617704 |
| &nbsp;&nbsp;&nbsp;5.000%, due 2/15/48 | 2000000 | 2112046 |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Fort Bend County Municipal Utility District No 134, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, due 3/1/28 | $390000 | $458630 |
| &nbsp;&nbsp;&nbsp;6.500%, due 3/1/29 | 390000 | 469882 |
| Galveston County Municipal Utility District No 56, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 6/1/29 | 625000 | 765834 |
| Green Valley Special Utility District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, due 9/15/26 | 515000 | 590064 |
| Guadalupe-Blanco River Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 8/15/42 | 1975000 | 2368088 |
| Harris County Municipal Utility District No 171, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, due 12/1/28 | 930000 | 1121041 |
| &nbsp;&nbsp;&nbsp;7.000%, due 12/1/29 | 905000 | 1115941 |
| Harris County Municipal Utility District No 423, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 4/1/44 | 1800000 | 1850904 |
| &nbsp;&nbsp;&nbsp;6.000%, due 4/1/30 | 350000 | 392104 |
| &nbsp;&nbsp;&nbsp;6.000%, due 4/1/31 | 350000 | 391998 |
| &nbsp;&nbsp;&nbsp;6.000%, due 4/1/32 | 375000 | 419608 |
| Harris County Municipal Utility District No 489, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 9/1/27 | 980000 | 1116288 |
| &nbsp;&nbsp;&nbsp;6.000%, due 9/1/28 | 980000 | 1142241 |
| &nbsp;&nbsp;&nbsp;6.000%, due 9/1/29 | 705000 | 838717 |
| Harris County Water Control & Improvement District No 158, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/48 | 1500000 | 1570257 |
| &nbsp;&nbsp;&nbsp;7.000%, due 9/1/27 | 340000 | 399421 |
| &nbsp;&nbsp;&nbsp;7.000%, due 9/1/28 | 360000 | 434985 |
| &nbsp;&nbsp;&nbsp;7.000%, due 9/1/29 | 380000 | 471654 |
| Harris County-Houston Sports Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A3 Insured: NATL |  |  |
| &nbsp;&nbsp;&nbsp;4.460%, due 11/15/33<sup>(b)</sup> | 1325000 | 723700 |
| Horizon Regional Municipal Utility District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 2/1/47 | 2980000 | 2947105 |
| Kaufman County Municipal Utility District No 3, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 3/1/48 | 1560000 | 1615216 |
| &nbsp;&nbsp;&nbsp;5.125%, due 3/1/46 | 1415000 | 1475698 |
| Lazy Nine Municipal Utility District No 1B, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series 1B Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 3/1/39 | 605000 | 610568 |
| Matagorda County Navigation District No 1, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, due 5/1/30 | 500000 | 528217 |
| Montgomery County Municipal Utility District No 95, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 9/1/41 | 2000000 | 2095917 |
| New Hope Cultural Education Facilities Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series B-1 Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 7/1/30 | 155000 | 160962 |
| Robstown Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, due 2/15/38 | 700000 | 726538 |
| Texas Municipal Power Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 9/1/35 | 1345000 | 1264763 |
| &nbsp;&nbsp;&nbsp;3.000%, due 9/1/39 | 700000 | 614725 |
| Texas State Technical College, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 8/1/36 | 1015000 | 1201750 |
| &nbsp;&nbsp;&nbsp;5.500%, due 8/1/42 | 4000000 | 4661313 |
| Williamson County Municipal Utility District No 25, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, due 8/15/44 | 1190000 | 1206048 |
|  |  | 42432568 |
| **Utah — 2.2%** |  |  |
| City of Salt Lake City UT Airport Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 7/1/47 | 2395000 | 2463995 |
| Heber Light & Power Co., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 12/15/47 | 4450000 | 4864430 |
| Vineyard Redevelopment Agency, Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp; Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/1/25 | 615000 | 648991 |
|  |  | 7977416 |
| **Washington — 1.6%** |  |  |
| County of King WA, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.150%, due 1/1/46<sup>(a),(c)</sup> | 5000000 | 5000000 |
| Klickitat County Public Utility District No 1, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 12/1/37 | 750000 | 791048 |
|  |  | 5791048 |
| **Wisconsin — 1.3%** |  |  |
| City of Milwaukee WI, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series N3 Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, due 4/1/30 | 1820000 | 2058000 |
| Wisconsin Center District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A Insured: BAM-TCRS |  |  |
| &nbsp;&nbsp;&nbsp;5.710%, due 12/15/37<sup>(b)</sup> | 1150000 | 616376 |
| &nbsp;&nbsp;&nbsp; Series D Insured: AGM |  |  |
| &nbsp;&nbsp;&nbsp;6.370%, due 12/15/45<sup>(b)</sup> | 5635000 | 1952438 |
|  |  | 4626814 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $341,451,263)** |  | **349150296** |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment — 4.2%** |  |  |
| **Money Market Fund — 4.2%** |  |  |
| Dreyfus Tax Exempt Cash Management - Institutional, 1.66%<sup>(d)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $15,423,133)** | 15423953 | $**15423133** |
| **Total Investments — 99.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $356,874,396)** |  | **364573429** |
| **Other Assets and Liabilities, Net — 0.2%** |  | **813746** |
| **Net Assets — 100.0%** |  | $**365387175** |

---

(a) Variable rate securities that may
 be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of January 31, 2023.

(b) The security was issued on a discount basis with no stated
 coupon rate. Rate shown reflects the effective yield.

(c) Adjustable rate security with an interest rate that is
 not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.

(d) Reflects the 7-day yield at January 31, 2023.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| AGC | - Assured Guaranty Corp. |
| AGM | - Assured Guaranty Municipal Corp. |
| AMBAC | - Ambac Assurance Corp. |
| BAM | - Build America Mutual Assurance Co. |
| BHAC-CR | - Berkshire Hathaway Assurance Corp. Custodial Receipts |
| FGIC | - Financial Guaranty Insurance Co. |
| LIBOR | - London InterBank Offered Rate |
| NATL | - National Public Finance Guarantee Corp. |
| PSF-GTD | - Permanent School Fund Guaranteed. |
| SCH BD GTY | - School Bond Guaranty Program |
| SCSDE | - South Carolina Department of Education |
| ST INTERCEPT | - State Tax Intercept |
| TCRS | - Transferable Custodial Receipts |

---

Schedule of Investments ─ IQ MacKay Municipal Insured ETF (continued)

January 31, 2023 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2023. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(e)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | $– | $349150296 | $– | $349150296 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Fund | 15423133 | – | – | 15423133 |
| Total Investments in Securities | $15423133 | $349150296 | $– | $364573429 |

---

(e) For a complete listing of investments
 and their states, see the Schedule of Investments.

For the period ended January 31, 2023, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** IndexIQ Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

**Item A.2. Information about the Series.**

- **a. Name of Series:** IQ MacKay Municipal Insured ETF

- **b. EDGAR series identifier (if any):** S000057660

- **c. LEI of Series:** 549300DKQ8WAMSGPUT72

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $367254285.20

**Total Liabilities:** $10485297.14

**Net Assets:** $356768988.06

**Delayed Delivery Securities:** $5372445.00

**Cash Not Reported:** $1181816.57

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 165.56557000 | **1-Year:** 7075.20731000 | **5-Year:** 25551.58284000 | **10-Year:** 263689.18558000 | **30-Year:** 32104.76258000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000184310 | 6.20%                | 0.00%                | 3.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3896830.39             | $23467698.76                               |
| Month 2  | $-98700.29               | $-1214876.38                               |
| Month 3  | $-192448.44              | $11208742.19                               |

### Schedule of Portfolio Investments

| Name                               | Title                                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| STHRN ILLINOIS ST UNIV             | Southern Illinois University                                                  | CUSIP: 8431465F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $982401.20    | 0.28%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville & Jefferson County Visitors and Convention Commission              | CUSIP: 546604FT1<br>LEI: 549300DJQHPGXYF1M317 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102631.85    | 0.03%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                             | CUSIP: 479754NR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3805000 | PA      | $4387134.18   | 1.23%             | 2044-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| W DELAWARE CNTY IA CMNTY SCH D     | West Delaware County Community School District Sales & Services Tax Revenue   | CUSIP: 952480AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $183572.48    | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNC MET DIST #1 CO                 | BNC Metropolitan District No 1                                                | CUSIP: 05567BAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $433348.06    | 0.12%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                       | CUSIP: 837151U49<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    600000 | PA      | $676749.78    | 0.19%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                         | CUSIP: 59261ACH8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522394.90    | 0.15%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION ALEXANDER ETC CNTYS IL C     | Union Alexander Massac Pulaski Etc Counties Community College District No 531 | CUSIP: 904842DE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1159441.56   | 0.32%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415HU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036433.40   | 0.29%             | 2024-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA     | South Jersey Transportation Authority                                         | CUSIP: 838536MH0<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |    500000 | PA      | $558367.25    | 0.16%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                             | CUSIP: 4521503D5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531408.10    | 0.15%             | 2026-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI PUBLIC SCHS        | Grand Rapids Public Schools                                                   | CUSIP: 386280RC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $836481.63    | 0.23%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUADALUPE-BLANCO TX RIVER AUTH     | Guadalupe-Blanco River Authority                                              | CUSIP: 400525AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2368087.81   | 0.66%             | 2042-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAUNDERS CNTY NE SCH DIST #1 A     | Ashland-Greenwood Public Schools                                              | CUSIP: 804494HF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $533786.16    | 0.15%             | 2034-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEKALB NEWTON & GWINNETT CNTYS     | DeKalb Newton & Gwinnett Counties Joint Development Authority                 | CUSIP: 24487RBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2253748.73   | 0.63%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                         | CUSIP: 59259RWP5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1268501.75   | 0.36%             | 2023-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY IL CMNTY UNIT      | Williamson County Community Unit School District No 1 Johnston City           | CUSIP: 969768DM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $524467.34    | 0.15%             | 2026-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BRANDON SD WTR SURCHARGE REVEN     | City of Brandon SD Water Utility Revenue                                      | CUSIP: 10530AAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1523528.58   | 0.43%             | 2042-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A     | California Health Facilities Financing Authority                              | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1893176.97   | 0.53%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL BRD OF SCH COMM     | Mobile County Board of School Commissioners                                   | CUSIP: 607298AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1424201.82   | 0.40%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV     | County of Miami-Dade Seaport Department                                       | CUSIP: 59335KDJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3893921.50   | 1.09%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY TX MUNI UTILIT     | Williamson County Municipal Utility District No 25                            | CUSIP: 97001TCP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1206047.63   | 0.34%             | 2044-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TECH CLG SYS FING SYS     | Texas State Technical College                                                 | CUSIP: 88276RFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4661312.80   | 1.31%             | 2042-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA                       | County of King WA                                                             | CUSIP: 49474FUP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.40%             | 2046-01-01      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| GREEN VLY TX SPL UTIL DIST WTR     | Green Valley Special Utility District                                         | CUSIP: 39356ACN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $590064.39    | 0.17%             | 2026-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DECATUR IL                         | City of Decatur IL                                                            | CUSIP: 243127YH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3043751.10   | 0.85%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRANDON SD WTR SURCHARGE REVEN     | City of Brandon SD Water Utility Revenue                                      | CUSIP: 10530AAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1145115.60   | 0.32%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                             | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073696.00   | 0.30%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GALVESTON CNTY TX MUNI UTILITY     | Galveston County Municipal Utility District No 56                             | CUSIP: 36423GGJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $765833.69    | 0.21%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415HB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25732.45     | 0.01%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH HOSP REVENUE      | County of Cuyahoga OH                                                         | CUSIP: 2322655J3<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    500000 | PA      | $530649.15    | 0.15%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA WTR & SWR REVENU     | City of Shreveport LA Water & Sewer Revenue                                   | CUSIP: 825485WF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $567805.83    | 0.16%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D     | Metropolitan Washington Airports Authority Dulles Toll Road Revenue           | CUSIP: 592643DH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1942459.00   | 0.54%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLINTON IA CMNTY SCH DIST SCHI     | Clinton Community School District/IA Infrastructure Sales Services & Use Tax  | CUSIP: 18735EBS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2114239.47   | 0.59%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIC SD SCH DIST #49-1           | Baltic School District No 49-1                                                | CUSIP: 058827EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3080000 | PA      | $3495885.93   | 0.98%             | 2051-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 489                               | CUSIP: 41423LKT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $838717.49    | 0.24%             | 2029-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LA SALLE CNTY IL CMNTY UNIT SC     | La Salle County Community Unit School District No 2 Serena                    | CUSIP: 504396HD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $2123594.46   | 0.60%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH      | Kentucky Economic Development Finance Authority                               | CUSIP: 49126KKB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489068.00    | 0.14%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TX MUNI UTIL D     | Montgomery County Municipal Utility District No 95                            | CUSIP: 61370NMK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2095917.20   | 0.59%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                            | CUSIP: 167486M48<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    775000 | PA      | $759353.53    | 0.21%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KAUFMAN CNTY TX MUNI UTILITY D     | Kaufman County Municipal Utility District No 3                                | CUSIP: 48620ABZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1615216.36   | 0.45%             | 2048-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH & ALLEGHENY CNTY PA     | Sports & Exhibition Authority of Pittsburgh and Allegheny County              | CUSIP: 724799BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1312322.06   | 0.37%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ HIGH SCH DIST     | Maricopa County Unified School District No 60 Higley                          | CUSIP: 56756QBG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514218.65   | 0.42%             | 2047-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                             | CUSIP: 889278ZV2<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3459076.20   | 0.97%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WAUKEGAN IL                        | City of Waukegan IL                                                           | CUSIP: 942860TX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1044681.54   | 0.29%             | 2036-12-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                               | CUSIP: 41429KDQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $419608.50    | 0.12%             | 2032-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                             | CUSIP: 452152H61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3715000 | PA      | $3608954.58   | 1.01%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF OH LOCAL SCH DIST C     | Cloverleaf Local School District                                              | CUSIP: 18925PGQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1046239.94   | 0.29%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX WC&ID #158          | Harris County Water Control & Improvement District No 158                     | CUSIP: 41453EBA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1570257.15   | 0.44%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245YP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1429907.27   | 0.40%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST             | Clark County School District                                                  | CUSIP: 181059H90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2666921.04   | 0.75%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MULTNOMAH CNTY OR SCH DIST #1J     | Multnomah County School District No 1 Portland/OR                             | CUSIP: 625517KS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1715805.86   | 0.48%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND JUNCTION CO REGL ARPT AU     | Grand Junction Regional Airport Authority                                     | CUSIP: 385785AG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543324.00    | 0.15%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH HO     | Bucks County Industrial Development Authority                                 | CUSIP: 11861MBP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3555000 | PA      | $2656053.55   | 0.74%             | 2053-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT     | New Jersey Educational Facilities Authority                                   | CUSIP: 6460666Q8<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $318729.78    | 0.09%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKS CNTY PA INDL DEV AUTH HO     | Bucks County Industrial Development Authority                                 | CUSIP: 11861MBQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1035058.54   | 0.29%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH DIST        | School Board of Miami-Dade County/The                                         | CUSIP: 59333RHB3<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1741216.54   | 0.49%             | 2039-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX WC&ID #158          | Harris County Water Control & Improvement District No 158                     | CUSIP: 41453EAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $471654.48    | 0.13%             | 2029-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR      | Puerto Rico Electric Power Authority                                          | CUSIP: 74526QCM2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25029.85     | 0.01%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE PUBLIC SCH BLDG AUTH PA      | State Public School Building Authority                                        | CUSIP: 85732NAS4<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |    375000 | PA      | $416603.03    | 0.12%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON CNTY IL SCH DIST #61         | Macon County School District No 61 Decatur                                    | CUSIP: 555597JC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1386366.23   | 0.39%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL EXPRESSWAYA     | Miami-Dade County Expressway Authority                                        | CUSIP: 593338BJ4<br>LEI: 549300NSQPQSO55VM780 | Long             | DBT              | MUN               | US        |   3180000 | PA      | $3279161.30   | 0.92%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                      | City of Long Beach NY                                                         | CUSIP: 542519EQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330770.37    | 0.09%             | 2036-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL      | Metropolitan Pier & Exposition Authority                                      | CUSIP: 592248BC1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    720000 | PA      | $258122.95    | 0.07%             | 2045-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 489                               | CUSIP: 41423LKR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1116287.91   | 0.31%             | 2027-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL TOURIST DEV TA     | County of Broward FL Tourist Development Tax Revenue                          | CUSIP: 115085AY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1285057.59   | 0.36%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                         | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    450000 | PA      | $410220.72    | 0.11%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CT                       | City of New Haven CT                                                          | CUSIP: 645021AQ9<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1405530.10   | 0.39%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL      | Metropolitan Pier & Exposition Authority                                      | CUSIP: 592248BE7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    225000 | PA      | $72599.24     | 0.02%             | 2047-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST DEV BANK SPL OB     | Mississippi Development Bank                                                  | CUSIP: 60534WZA9<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    460000 | PA      | $507063.66    | 0.14%             | 2038-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN     | New Hope Cultural Education Facilities Finance Corp                           | CUSIP: 64542YBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $160961.59    | 0.05%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTIL DI     | Fort Bend County Municipal Utility District No 134B                           | CUSIP: 34683LRF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $469881.91    | 0.13%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DELAWARE VLY PA REGL FIN AUTH      | Delaware Valley Regional Finance Authority                                    | CUSIP: 246579DT0<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128037.30   | 0.32%             | 2027-07-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AMHERST NY DEV CORP                | Amherst Development Corp                                                      | CUSIP: 03135NBH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3905000 | PA      | $3881330.23   | 1.09%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                            | CUSIP: 725304WV7<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1607343.44   | 0.45%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415GV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $63753.28     | 0.02%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI PWR AGY REVENUE      | Texas Municipal Power Agency                                                  | CUSIP: 882555ZT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1264763.08   | 0.35%             | 2035-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TECH CLG SYS FING SYS     | Texas State Technical College                                                 | CUSIP: 88276RFG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1201749.55   | 0.34%             | 2036-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU     | Wayne County Airport Authority                                                | CUSIP: 944514F29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1901656.62   | 0.53%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CALIF SPL TAX            | City of San Mateo CA                                                          | CUSIP: 79901PCX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4460000 | PA      | $5028550.10   | 1.41%             | 2037-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                      | City of Long Beach NY                                                         | CUSIP: 542519ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $355505.31    | 0.10%             | 2037-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                        | City of New York NY                                                           | CUSIP: 64966QPH7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1083207.58   | 0.30%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILWAUKEE WI                       | City of Milwaukee WI                                                          | CUSIP: 602366H58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1820000 | PA      | $2057999.58   | 0.58%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON CNTY IL SCH DIST #186     | Sangamon County School District No 186 Springfield                            | CUSIP: 800766ND5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3237566.40   | 0.91%             | 2029-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                            | State of Ohio                                                                 | CUSIP: 6775222Q6<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1107915.35   | 0.31%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245ZB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520759.95    | 0.15%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI     | Pennsylvania Turnpike Commission                                              | CUSIP: 709224XK0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1093461.50   | 0.31%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL BRD OF SCH COMM     | Mobile County Board of School Commissioners                                   | CUSIP: 607298BK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2645000 | PA      | $2951977.64   | 0.83%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL CMNTY UNIT SCH DI     | Will County Community Unit School District No 201-U Crete-Monee               | CUSIP: 969003TY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3735000 | PA      | $4161078.72   | 1.17%             | 2042-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SANGAMON & MORGAN CNTYS IL CMN     | Sangamon & Morgan Counties Community Unit School District No 16 New Berlin    | CUSIP: 800803DU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1942667.10   | 0.54%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2395077.00   | 0.67%             | 2052-10-01      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| VAUXMONT MET DIST CO               | Vauxmont Metropolitan District                                                | CUSIP: 92242SAL7<br>LEI: 549300M7XL6MB0OW8D56 | Long             | DBT              | MUN               | US        |    135000 | PA      | $145382.72    | 0.04%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BELMONT FRESH WTR SPLY DIST #1     | Belmont Fresh Water Supply District No 1                                      | CUSIP: 080375PA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $696544.50    | 0.20%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON MACOUPIN ETC CNTYS ILC     | Madison-Macoupin Etc Counties Community College District No 536/IL            | CUSIP: 557738NG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $244413.95    | 0.07%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 171                               | CUSIP: 41423THN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $1115940.75   | 0.31%             | 2029-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY      | New York City Industrial Development Agency                                   | CUSIP: 64971PEZ4<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1533618.45   | 0.43%             | 2024-03-01      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO     | Idaho Housing & Finance Association                                           | CUSIP: 45129GKP9<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031111.00   | 0.29%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO NV CAPITAL IMPT REVENUE       | City of Reno NV                                                               | CUSIP: 759831CU2<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |    265000 | PA      | $287029.82    | 0.08%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION     | City of Chicago IL Wastewater Transmission Revenue                            | CUSIP: 167727HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1149167.24   | 0.32%             | 2027-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| W CONTRA COSTA CA UNIF SCH DIS     | West Contra Costa Unified School District                                     | CUSIP: 952347TC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $1423327.63   | 0.40%             | 2033-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COATESVILLE PA AREA SCH DIST       | Coatesville School District                                                   | CUSIP: 190684PN4<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    300000 | PA      | $318840.81    | 0.09%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES      | Chicago Transit Authority Sales Tax Receipts Fund                             | CUSIP: 16772PCF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4553629.78   | 1.28%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEASIDE OR TRANSIENT LODGING T     | City of Seaside OR Transient Lodging Tax Revenue                              | CUSIP: 812513AN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $437549.96    | 0.12%             | 2037-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR IL                         | City of Decatur IL                                                            | CUSIP: 243127YG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2805000 | PA      | $2854371.09   | 0.80%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI     | Pennsylvania Turnpike Commission                                              | CUSIP: 709223XA4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    450000 | PA      | $507965.27    | 0.14%             | 2033-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FONTANA CA UNIF SCH DIST           | Fontana Unified School District                                               | CUSIP: 344640WD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1832336.25   | 0.51%             | 2044-08-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SALES TAX REVENUE     | County of Cook IL Sales Tax Revenue                                           | CUSIP: 213248CQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $785477.32    | 0.22%             | 2040-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND RIVER CO HOSP DIST           | Grand River Hospital District                                                 | CUSIP: 386448EQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $453591.28    | 0.13%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONEIDA CO NY LOCAL DEV CORP RE     | Oneida County Local Development Corp                                          | CUSIP: 682440BM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $667452.03    | 0.19%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EVANSVILLE IN WTRWKS DIST REVE     | Evansville Waterworks District                                                | CUSIP: 299488GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020664.10   | 0.29%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| KLICKITAT CNTY WA PUBLIC UTILI     | Klickitat County Public Utility District No 1                                 | CUSIP: 498622KD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $791047.58    | 0.22%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070CA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $842111.95    | 0.24%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNION CITY NJ                      | City of Union City NJ                                                         | CUSIP: 905734NX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $510380.68    | 0.14%             | 2024-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CITY CA UNIF SCH DI     | Sacramento City Unified School District/CA                                    | CUSIP: 785870E69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1865000 | PA      | $2092810.31   | 0.59%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE       | City of Arlington TX Special Tax Revenue                                      | CUSIP: 04184RBP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1617703.65   | 0.45%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK 70 CO MET DIST                | Park 70 Metropolitan District                                                 | CUSIP: 70014RAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457517.88    | 0.13%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA WTR & SWR REVENU     | City of Shreveport LA Water & Sewer Revenue                                   | CUSIP: 825485WN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $138989.29    | 0.04%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTLE OAKS CO MET DIST #3         | Castle Oaks Metropolitan District No 3                                        | CUSIP: 14846XAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2993050.50   | 0.84%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070BQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $588504.48    | 0.16%             | 2031-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BOND DEV CORP INDL BL     | Kentucky Bond Development Corp                                                | CUSIP: 491211BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1162160.18   | 0.33%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIO CA PUBLIC FING AUTH          | Indio Finance Authority                                                       | CUSIP: 45571LDP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1717238.55   | 0.48%             | 2042-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF OH LOCAL SCH DIST C     | Cloverleaf Local School District                                              | CUSIP: 18925PGP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1949824.10   | 0.55%             | 2039-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW HAVEN CT                       | City of New Haven CT                                                          | CUSIP: 645020T99<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037322.70   | 0.29%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAZELWOOD MO SCH DIST              | Hazelwood School District                                                     | CUSIP: 421722W47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3400707.60   | 0.95%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 171                               | CUSIP: 41423THM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $1121041.16   | 0.31%             | 2028-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ HIGH SCH DIST     | Maricopa County Unified School District No 60 Higley                          | CUSIP: 56756QBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506198.80    | 0.14%             | 2042-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &H     | Chattanooga Health Educational & Housing Facility Board                       | CUSIP: 162410DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $559977.06    | 0.16%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                      | City of Long Beach NY                                                         | CUSIP: 542519ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1946845.26   | 0.55%             | 2042-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BURLINGTON IA CMNTY SCH DIST S     | Burlington Community School District Infrastructure Sales Services & Use Tax  | CUSIP: 12174PEM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1946651.68   | 0.55%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA WTR & SWR REVENU     | City of Shreveport LA Water & Sewer Revenue                                   | CUSIP: 825485WM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $557011.50    | 0.16%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA CNTY PA INDL DEV AUTH      | Indiana County Industrial Development Authority                               | CUSIP: 45469NEB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $646367.74    | 0.18%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREEN OH LOCAL SCH DIST SUMMIT     | Green Local School District/Summit County                                     | CUSIP: 393192AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3355110.90   | 0.94%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HORIZON TX REGL MUNI UTILITY D     | Horizon Regional Municipal Utility District                                   | CUSIP: 44044TMZ2<br>LEI: 5493003MTD7X9G4KHS74 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $2947104.67   | 0.83%             | 2047-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE     | Port Authority of New York & New Jersey                                       | CUSIP: 73358XFS6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    765000 | PA      | $848476.19    | 0.24%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS      | Maine Health & Higher Educational Facilities Authority                        | CUSIP: 56042R8L9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1131408.30   | 0.32%             | 2042-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH      | Illinois State Toll Highway Authority                                         | CUSIP: 452252PQ6<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2231507.21   | 0.63%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAZY NINE TX MUNI UTILITY DIST     | Lazy Nine Municipal Utility District No 1B                                    | CUSIP: 52109HQB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $610567.88    | 0.17%             | 2039-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ORANGE CITY IA WTR REVENUE         | City of Orange City IA Water Revenue                                          | CUSIP: 68417ECW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $709715.65    | 0.20%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STHRN ILLINOIS ST UNIV             | Southern Illinois University                                                  | CUSIP: 843146D73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $359448.73    | 0.10%             | 2025-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY BOND DEV CORP INDL BL     | Kentucky Bond Development Corp                                                | CUSIP: 491211BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088533.60   | 0.31%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                             | CUSIP: 649519FF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1466905.55   | 0.41%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KAUFMAN CNTY TX MUNI UTILITY D     | Kaufman County Municipal Utility District No 3                                | CUSIP: 48620ABX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1475698.12   | 0.41%             | 2046-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP         | Greater Clark Building Corp                                                   | CUSIP: 39167GJP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1270196.70   | 0.36%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENILWORTH NJ SCH DIST             | Kenilworth School District                                                    | CUSIP: 489062DE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1485855.17   | 0.42%             | 2045-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                               | CUSIP: 41429KDN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $392104.41    | 0.11%             | 2030-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOURBONNAIS IL                     | Village of Bourbonnais IL                                                     | CUSIP: 102014EW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1119134.60   | 0.31%             | 2046-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA     | South Jersey Transportation Authority                                         | CUSIP: 838536MG2<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |    500000 | PA      | $562308.65    | 0.16%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MCCOOK IL                          | Village of McCook IL                                                          | CUSIP: 579695CV7<br>LEI: 549300J1T8QSYCEN8R62 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1676006.48   | 0.47%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE       | City of Arlington TX Special Tax Revenue                                      | CUSIP: 04184RBT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2112045.60   | 0.59%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY      | New York City Industrial Development Agency                                   | CUSIP: 64971PKK0<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $976240.47    | 0.27%             | 2049-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KENILWORTH NJ SCH DIST             | Kenilworth School District                                                    | CUSIP: 489062CY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1346033.85   | 0.38%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W DELAWARE CNTY IA CMNTY SCH D     | West Delaware County Community School District Sales & Services Tax Revenue   | CUSIP: 952480AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $328927.56    | 0.09%             | 2041-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SPARTANBURG CNTY SC SCH DIST #     | Spartanburg County School District No 4/SC                                    | CUSIP: 847031CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2503635.72   | 0.70%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                   | Commonwealth of Massachusetts                                                 | CUSIP: 57582PCV0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     85000 | PA      | $83500.81     | 0.02%             | 2037-05-01      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| POWAY CA UNIF SCH DIST SPL TAX     | Poway Unified School District                                                 | CUSIP: 738855N27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $406296.32    | 0.11%             | 2047-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LA SALLE CNTY IL CMNTY UNIT SC     | La Salle County Community Unit School District No 2 Serena                    | CUSIP: 504396HF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1448315.06   | 0.41%             | 2042-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $637571.05    | 0.18%             | 2033-06-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY-HOUSTON TX SPORTS      | Harris County-Houston Sports Authority                                        | CUSIP: 413890CE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $723699.63    | 0.20%             | 2033-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CNTY CA CMNTY CLG DI     | San Mateo County Community College District                                   | CUSIP: 799038FZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $136824.06    | 0.04%             | 2025-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SPORTS FACS AUTH       | Illinois Sports Facilities Authority/The                                      | CUSIP: 452143CQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494054.45    | 0.14%             | 2023-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDIANA CNTY PA INDL DEV AUTH      | Indiana County Industrial Development Authority                               | CUSIP: 45469NDZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $984080.40    | 0.28%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                               | CUSIP: 348430PR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $563784.90    | 0.16%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTRWKS REVENUE          | City of Chicago IL Waterworks Revenue                                         | CUSIP: 167736U62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3220000 | PA      | $3258948.48   | 0.91%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415FQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15246.72     | 0.00%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MCCOOK IL                          | Village of McCook IL                                                          | CUSIP: 579695CX3<br>LEI: 549300J1T8QSYCEN8R62 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $2016888.56   | 0.57%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W DELAWARE CNTY IA CMNTY SCH D     | West Delaware County Community School District Sales & Services Tax Revenue   | CUSIP: 952480AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $385380.84    | 0.11%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GROSSMONT CA UNION HIGH SCH DI     | Grossmont Union High School District                                          | CUSIP: 399262KB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2445000 | PA      | $1440913.07   | 0.40%             | 2034-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                               | CUSIP: 348430PT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $450420.12    | 0.13%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH D     | Metropolitan Washington Airports Authority Dulles Toll Road Revenue           | CUSIP: 592643DQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $799450.65    | 0.22%             | 2037-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CRAWFORD IL HOSP DIST              | Crawford Hospital District                                                    | CUSIP: 225022CJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $719354.86    | 0.20%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DE SMET SD SCH DIST #38-2          | De Smet School District No 38-2                                               | CUSIP: 250593DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1436938.36   | 0.40%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CITY IA WTR REVENUE         | City of Orange City IA Water Revenue                                          | CUSIP: 68417ECX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1191728.25   | 0.33%             | 2042-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                         | CUSIP: 59261AK48<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    600000 | PA      | $543291.72    | 0.15%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                            | CUSIP: 725304WU9<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1532399.18   | 0.43%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KELSEYVILLE CA UNIF SCH DIST       | Kelseyville Unified School District                                           | CUSIP: 488224DN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $116758.59    | 0.03%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245ZJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $420992.76    | 0.12%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO ARPT REVENUE        | City of St Louis MO Airport Revenue                                           | CUSIP: 791638VG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $463795.56    | 0.13%             | 2028-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RENO NV CAPITAL IMPT REVENUE       | City of Reno NV                                                               | CUSIP: 759831CZ1<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1122585.84   | 0.31%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245ZK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $389742.40    | 0.11%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VISTA CA UNIF SCH DIST             | Vista Unified School District                                                 | CUSIP: 928346QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3479598.90   | 0.98%             | 2041-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EVANSVILLE IN WTRWKS DIST REVE     | Evansville Waterworks District                                                | CUSIP: 299488GX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2201262.60   | 0.62%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BELMONT FRESH WTR SPLY DIST #1     | Belmont Fresh Water Supply District No 1                                      | CUSIP: 080375PD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2256097.39   | 0.63%             | 2043-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415HD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20708.37     | 0.01%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH LOAN REVENUE     | Finance Authority of Maine                                                    | CUSIP: 56042TAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $160788.05    | 0.05%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOOTHILL-DE ANZA CA CMNTY CLG      | Foothill-De Anza Community College District                                   | CUSIP: 345102JA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $885230.96    | 0.25%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI PWR AGY REVENUE      | Texas Municipal Power Agency                                                  | CUSIP: 882555ZX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $614724.74    | 0.17%             | 2039-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                       | CUSIP: 837151T25<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2275351.80   | 0.64%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                               | CUSIP: 41429KEC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1850904.36   | 0.52%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM CA ELEM SCH DIST           | Anaheim City School District/CA                                               | CUSIP: 032555QY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011449.00   | 0.28%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VLY CO MET DIST #2         | Crystal Valley Metropolitan District No 2                                     | CUSIP: 22941LAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1684670.08   | 0.47%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT     | North Carolina Turnpike Authority                                             | CUSIP: 65830RCT4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3496668.75   | 0.98%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                  | CUSIP: 542403DQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080080.30   | 0.30%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SPL OBLG DEDI     | Commonwealth of Massachusetts                                                 | CUSIP: 576002BH1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    580000 | PA      | $611265.65    | 0.17%             | 2025-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CENTER DIST WI TAX R     | Wisconsin Center District                                                     | CUSIP: 976595EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $616376.20    | 0.17%             | 2037-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 489                               | CUSIP: 41423LKS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $1142240.76   | 0.32%             | 2028-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTIL DI     | Fort Bend County Municipal Utility District No 134B                           | CUSIP: 34683LRE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $458629.78    | 0.13%             | 2028-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI     | Pennsylvania Turnpike Commission                                              | CUSIP: 709224Q28<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1689400.23   | 0.47%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATAGORDA CNTY TX NAV DIST #1      | Matagorda County Navigation District No 1                                     | CUSIP: 576528CY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528216.65    | 0.15%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| S JERSEY NJ TRANSPRTN AUTH TRA     | South Jersey Transportation Authority                                         | CUSIP: 838536MQ0<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2478629.03   | 0.69%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMSON CNTY IL CMNTY UNIT      | Williamson County Community Unit School District No 1 Johnston City           | CUSIP: 969768DL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $540608.92    | 0.15%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST CONVENTION CENTER      | New York Convention Center Development Corp                                   | CUSIP: 649451HU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $193177.01    | 0.05%             | 2038-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING      | Pennsylvania Economic Development Financing Authority                         | CUSIP: 70868YAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3339219.90   | 0.94%             | 2042-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GTR ASHEVILLE REGL ARPT AUTH N     | Greater Asheville Regional Airport Authority                                  | CUSIP: 39160CAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3593499.65   | 1.01%             | 2041-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                            | CUSIP: 167486M55<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2425985.75   | 0.68%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21204.67     | 0.01%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $875088.54    | 0.25%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                     | CUSIP: 38060PAN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $667207.02    | 0.19%             | 2047-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY                     | County of Nassau NY                                                           | CUSIP: 63165T3C7<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   3525000 | PA      | $3540491.32   | 0.99%             | 2047-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                           | CUSIP: 416415AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220464.51    | 0.06%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CA CITY FING AUTH       | Sacramento City Financing Authority                                           | CUSIP: 785849QF0<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4890032.50   | 1.37%             | 2023-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON & MORGAN CNTYS IL CMN     | Sangamon & Morgan Counties Community Unit School District No 16 New Berlin    | CUSIP: 800803DT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1564755.55   | 0.44%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $614927.58    | 0.17%             | 2032-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU              | Chicago Board of Education                                                    | CUSIP: 167505EC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1672188.37   | 0.47%             | 2026-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MADISON CNTY IL CMNTY UNIT SCH     | Madison County Community Unit School District No 7 Edwardsville               | CUSIP: 557021JR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $293800.60    | 0.08%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CITY CA UNIF SCH DI     | Sacramento City Unified School District/CA                                    | CUSIP: 785870RH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $298524.30    | 0.08%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                  | CUSIP: 968838KA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3765000 | PA      | $4293232.89   | 1.20%             | 2045-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVERBANK CA UNIF SCH DIST         | Riverbank Unified School District                                             | CUSIP: 768569CS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $16050.38     | 0.00%             | 2048-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                              | CUSIP: 982260JA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1227197.30   | 0.34%             | 2042-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KANKAKEE IL                        | City of Kankakee IL                                                           | CUSIP: 484404YX0<br>LEI: 549300Z3ZVLSXELVAS52 | Long             | DBT              | MUN               | US        |    715000 | PA      | $761277.52    | 0.21%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU              | Chicago Board of Education                                                    | CUSIP: 167505UG9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $537802.35    | 0.15%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND CNTY PA MUNI AUTH     | Westmoreland County Municipal Authority                                       | CUSIP: 961017QQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1161868.36   | 0.33%             | 2038-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX WC&ID #158          | Harris County Water Control & Improvement District No 158                     | CUSIP: 41453EAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $434985.08    | 0.12%             | 2028-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS      | Maine Health & Higher Educational Facilities Authority                        | CUSIP: 56042R8J4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1341795.11   | 0.38%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL PARK DIST               | Chicago Park District                                                         | CUSIP: 167615C92<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038046.50   | 0.29%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND IL                     | City of Rock Island IL                                                        | CUSIP: 7724873N2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1470210.74   | 0.41%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIAN WELLS CA REDEV AGY SUCC     | Indian Wells Redevelopment Agency Successor Agency                            | CUSIP: 45454RBE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1343745.59   | 0.38%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK CREEK CO MET DIST REVENUE     | Park Creek Metropolitan District                                              | CUSIP: 700387HC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3255000 | PA      | $3177732.81   | 0.89%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245ZL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $386809.72    | 0.11%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW BRITAIN CT                     | City of New Britain CT                                                        | CUSIP: 642714BP3<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |    100000 | PA      | $113336.56    | 0.03%             | 2030-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WOODFORD CNTY KY SCH DIST FINC     | Woodford County School District Finance Corp                                  | CUSIP: 979385MZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1227865.60   | 0.34%             | 2028-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ERIE PA SWR AUTH                   | Erie Sewer Authority                                                          | CUSIP: 295533QD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $522157.55    | 0.15%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YONKERS NY                         | City of Yonkers NY                                                            | CUSIP: 986082X26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $367756.90    | 0.10%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                  | CUSIP: 665245ZG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $551673.98    | 0.15%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO     | Idaho Housing & Finance Association                                           | CUSIP: 45129GKL8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    800000 | PA      | $863152.32    | 0.24%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                         | CUSIP: 59259RWQ3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1185361.82   | 0.33%             | 2024-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BROCKTON MA                        | City of Brockton MA                                                           | CUSIP: 111746LB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3180000 | PA      | $3167225.30   | 0.89%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX WC&ID #158          | Harris County Water Control & Improvement District No 158                     | CUSIP: 41453EAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $399421.15    | 0.11%             | 2027-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                          | CUSIP: 167593X56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3585000 | PA      | $3898826.96   | 1.09%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOONE MCHENRY & DEKALB CNTYS I     | Boone Mchenry & Dekalb Counties Community Unit School District 100            | CUSIP: 099032HJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $386249.21    | 0.11%             | 2023-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST           | School District of Philadelphia/The                                           | CUSIP: 717883XU1<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5480.89      | 0.00%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE     | City of Salt Lake City UT Airport Revenue                                     | CUSIP: 795576FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2463994.44   | 0.69%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                               | CUSIP: 477070BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $811794.92    | 0.23%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEIDA CO NY LOCAL DEV CORP RE     | Oneida County Local Development Corp                                          | CUSIP: 682440BL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $325115.37    | 0.09%             | 2044-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville/Jefferson County Metropolitan Government                           | CUSIP: 54660DAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1081189.17   | 0.30%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dreyfus Tax Exempt Cash Management | Dreyfus Tax Exempt Cash Management                                            | CUSIP: 000000000<br>LEI: 5493002DL5W3JXRR0R54 | Long             | STIV             | RF                | US        |  15423953 | NS      | $15423132.58  | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIV OF ALASKA AK REVENUES         | University of Alaska                                                          | CUSIP: 914046N60<br>LEI: 549300HX0P0XT4OEJZ25 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1425201.69   | 0.40%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANTON NY CENTRL SCH DIST          | Canton Central School District                                                | CUSIP: 138398FX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1035051.25   | 0.29%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA ARPT REVENUE       | City of Philadelphia PA Airport Revenue                                       | CUSIP: 717817XV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1330480.36   | 0.37%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN CO WTR CONSERVANCY DISTC     | Northern Colorado Water Conservancy District                                  | CUSIP: 665018DR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $695487.75    | 0.19%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CITY CA UNIF SCH DI     | Sacramento City Unified School District/CA                                    | CUSIP: 785870VM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $212861.08    | 0.06%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CITY IA WTR REVENUE         | City of Orange City IA Water Revenue                                          | CUSIP: 68417ECV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $665242.89    | 0.19%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SWEETWATER CA UNION HIGH SCH D     | Sweetwater Union High School District                                         | CUSIP: 870462SF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $970150.11    | 0.27%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR      | Puerto Rico Electric Power Authority                                          | CUSIP: 74526QLY6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    510000 | PA      | $461594.42    | 0.13%             | 2029-07-01      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                               | CUSIP: 41429KDP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $391997.90    | 0.11%             | 2031-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES     | New York State Dormitory Authority                                            | CUSIP: 65000BQJ0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5471.89      | 0.00%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO SCH DIST HICKM     | Hickman Mills C-1 School District/MO                                          | CUSIP: 46741RDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2263899.57   | 0.63%             | 2041-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CICERO IL                          | Town of Cicero IL                                                             | CUSIP: 171646SD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $516556.52    | 0.14%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONTARIO CA MONTCLAIR SCH DIST      | Ontario Montclair School District                                             | CUSIP: 683119BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $319867.12    | 0.09%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN CENTER DIST WI TAX R     | Wisconsin Center District                                                     | CUSIP: 976595GN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5635000 | PA      | $1952437.90   | 0.55%             | 2045-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                               | CUSIP: 348430PS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $562879.20    | 0.16%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                      | City of Long Beach NY                                                         | CUSIP: 542519EP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $445582.44    | 0.12%             | 2035-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                          | CUSIP: 70917RKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $132910.78    | 0.04%             | 2027-07-01      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| HEBER UT LIGHT & PWR COMPANY E     | Heber Light & Power Co                                                        | CUSIP: 42249TEB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4450000 | PA      | $4864430.28   | 1.36%             | 2047-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIC SD SCH DIST #49-1           | Baltic School District No 49-1                                                | CUSIP: 058827EY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1996685.45   | 0.56%             | 2047-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA               | Municipal Electric Authority of Georgia                                       | CUSIP: 62620HAV4<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1628578.03   | 0.46%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE PUBLIC SCH BLDG AUTH PA      | State Public School Building Authority                                        | CUSIP: 85732NBJ3<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1325399.62   | 0.37%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** IndexIQ Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ