# EDGAR Filing Document

**Accession Number:** 0001645194
**File Stem:** 0001752724-23-043217
**Filing Date:** 2023-2
**Character Count:** 125108
**Document Hash:** 6d22a379ca3138a7d2b3ca9c2512d348
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043217.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043217

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason ETF Investment Trust
- **CENTRAL INDEX KEY:** 0001645194
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23096
- **FILM NUMBER:** 23674223

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVE
- **STREET 2:** 49TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVE
- **STREET 2:** 49TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason ETF InvestmentTrust
- **DATE OF NAME CHANGE:** 20170221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason ETF Equity Trust
- **DATE OF NAME CHANGE:** 20150615

## Series and Classes Contracts Data

### Franklin International Low Volatility High Dividend Index ETF (Series ID: S000054583)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000171451 | Franklin International Low Volatility High Dividend Index ETF | LVHI            |

## Nport-Ex

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **COMMON STOCKS - 99.4%** |  |  |  |
| **COMMUNICATION SERVICES - 12.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - 9.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HKT Trust & HKT Ltd. | 590167 | $723630 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 916794 | 2827718 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Telegraph & Telephone Corp. | 214400 | 6112947 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange SA | 555656 | 5503858 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proximus SADP | 90396 | 867891 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. | 1862900 | 3569679 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swisscom AG, Registered Shares | 6823 | 3735983 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* |  | *23341706* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eutelsat Communications SA | 55600 | 413000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropole Television SA | 15764 | 258251 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telenet Group Holding NV | 14903 | 242555 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* |  | *913806* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services - 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SoftBank Corp. | 578100 | *6519480* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  | 30774992 |  |
| **CONSUMER DISCRETIONARY - 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobiles - 2.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | 70350 | *6260261* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Durables - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barratt Developments PLC | 109396 | 522159 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JM AB | 24208 | 399846 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Household Durables* |  | *922005* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multiline Retail - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvey Norman Holdings Ltd. | 755069 | *2114767* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Specialty Retail - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T-Gaia Corp. | 14600 | *180363* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER DISCRETIONARY** |  | 9477396 |  |
| **CONSUMER STAPLES - 11.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Staples Retailing - 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tesco PLC | 1717359 | *4631550* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food Products - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Sugar Inc. | 42034 | *176518* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal Products - 2.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC, Euronext Amsterdam | 114414 | 5723222 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC, LSE | 3246 | 163291 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Personal Products* |  | *5886513* | |

---

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 1

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tobacco - 7.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | 153082 | $6042633 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imperial Brands PLC | 237657 | 5920527 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Tobacco Inc. | 304300 | 6136969 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scandinavian Tobacco Group A/S | 7391 | 129515 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Tobacco* |  | *18229644* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER STAPLES** |  | 28924225 |  |
| **ENERGY - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Itochu Enex Co. Ltd. | 21400 | 170298 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | 36500 | 877228 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL ENERGY** |  | 1047526 |  |
| **FINANCIALS - 22.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - 11.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia | 95247 | 4663409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banque Cantonale Vaudoise, Registered Shares | 5666 | 543512 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | 892606 | 3042085 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 108785 | 4397324 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. | 256100 | 6476970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp. Ltd. | 401700 | 3648006 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seven Bank Ltd. | 874700 | 1736871 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Overseas Bank Ltd. | 203800 | 4664972 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Banks* |  | *29173149* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGM Financial Inc. | 21203 | *591515* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - 10.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | 168970 | 2996239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Direct Line Insurance Group PLC | 513631 | 1367295 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | 21370 | 416944 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great-West Lifeco Inc. | 180180 | 4162245 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | 852700 | 7170189 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal & General Group PLC | 277964 | 834236 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poste Italiane SpA | 252924 | 2463411 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 12955 | 6193252 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Insurance* |  | *25603811* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  | 55368475 |  |
| **HEALTH CARE - 5.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals - 5.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novartis AG, Registered Shares | 72849 | 6581764 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanofi | 65270 | 6258205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL HEALTH CARE** |  | 12839969 |  |

---

**See Notes to Schedules of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
| **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **INDUSTRIALS - 10.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Freight & Logistics - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cia de Distribucion Integral Logista Holdings SA | 23595 | $594290 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oesterreichische Post AG | 5319 | 166895 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Air Freight & Logistics* |  | *761185* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services & Supplies - 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securitas AB, Class B Shares | 164202 | *1370412* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction & Engineering - 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | 60316 | 1723246 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bouygues SA | 85904 | 2570738 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chudenko Corp. | 12100 | 191480 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCC AB, Class B Shares | 27466 | 256353 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nishimatsu Construction Co. Ltd. | 43100 | 1278840 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Okumura Corp. | 18000 | 407215 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peab AB, Class B Shares | 21301 | 120820 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanki Engineering Co. Ltd. | 20100 | 235969 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Construction & Engineering* |  | *6784661* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Conglomerates - 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CK Hutchison Holdings Ltd. | 426868 | 2562318 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Keppel Corp. Ltd. | 235700 | 1275859 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Industrial Conglomerates* |  | *3838177* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kone oyj, Class B Shares | 58541 | *3017684* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Professional Services - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adecco Group AG, Registered Shares | 25600 | *842819* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Road & Rail - 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aurizon Holdings Ltd. | 1302107 | *3293680* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Trading Companies & Distributors - 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Corp. | 203700 | 6612203 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Trading Corp. | 4600 | 322134 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Trading Companies & Distributors* |  | *6934337* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INDUSTRIALS** |  | 26842955 |  |
| **INFORMATION TECHNOLOGY - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communications Equipment - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VTech Holdings Ltd. | 21884 | 141034 |  |
| **MATERIALS - 11.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kemira oyj | 13597 | *207949* | |

---

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 3

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
| **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Materials - 3.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSR Ltd. | 436832 | $1395280 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holcim AG | 119693 | 6194229 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Construction Materials* |  | *7589509* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining - 8.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd. | 201979 | 6250037 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | 88256 | 6967235 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto PLC | 100127 | 6983274 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Metals & Mining* |  | *20200546* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MATERIALS** |  | 27998004 |  |
| **REAL ESTATE - 6.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AEON REIT Investment Corp. | 752 | 880549 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT | 937900 | 1916080 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Hall Long Wale REIT | 130858 | 393124 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cofinimmo SA | 3066 | 273882 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cromwell Property Group | 555252 | 252285 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CT Real Estate Investment Trust | 37326 | 429471 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frasers Centrepoint Trust | 122800 | 192276 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontier Real Estate Investment Corp. | 153 | 593702 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mapletree Industrial Trust | 565600 | 936200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sasseur Real Estate Investment Trust | 261500 | 147206 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SmartCentres Real Estate Investment Trust | 80689 | 1594783 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Takara Leben Real Estate Investment Corp. | 842 | 634316 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waypoint REIT Ltd. | 463152 | 863738 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Equity Real Estate Investment Trusts (REITs)* |  | *9107612* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Management & Development - 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allreal Holding AG, Registered Shares | 1669 | 271312 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cibus Nordic Real Estate AB | 11455 | 157651 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa House Industry Co. Ltd. | 53700 | 1236836 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Land Development Co. Ltd. | 172647 | 602775 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kerry Properties Ltd. | 70956 | 154549 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LEG Immobilien SE | 12548 | 815029 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samhallsbyggnadsbolaget i Norden AB, Class D Shares | 72435 | 131390 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sun Hung Kai Properties Ltd. | 266459 | 3646125 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Real Estate Management & Development* |  | *7015667* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** |  | 16123279 |  |

---

**See Notes to Schedules of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SECURITY** | **SHARES** | **VALUE** |
| **UTILITIES - 15.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities - 7.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CK Infrastructure Holdings Ltd. |  | 166552 | $871710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emera Inc. |  | 158766 | 6063796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HK Electric Investments & HK Electric Investments Ltd. |  | 316640 | 209742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iberdrola SA |  | 564242 | 6581911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. |  | 266973 | 1462289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Electrica Corp. SA |  | 109513 | 1900433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale SpA |  | 292277 | 2152337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electric Utilities* |  |  | *19242218* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Italgas SpA |  | 104474 | 578685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Naturgy Energy Group SA |  | 54957 | 1425852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rubis SCA |  | 23999 | 630079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Snam SpA |  | 609622 | 2945354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Gas Utilities* |  |  | *5579970* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multi-Utilities - 5.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A2A SpA |  | 865368 | 1149838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACEA SpA |  | 11441 | 157759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON SE |  | 507811 | 5058670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Engie SA |  | 406439 | 5807343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC |  | 34561 | 414653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Multi-Utilities* |  |  | *12588263* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL UTILITIES** |  |  | 37410451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (Cost - $238,125,424) |  |  | 246948306 |
|  | **RATE** |  |  |
| **PREFERRED STOCKS - 0.7%** |  |  |  |
| **CONSUMER DISCRETIONARY - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobiles - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG<br>(Cost - $1,478,567) | 7.316% | 20558 | 1745370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $239,603,991) |  |  | 248693676 |
| **SHORT-TERM INVESTMENTS - 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class<br>(Cost - $538,116) | 4.235% | 538116 | 538116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.3%**<br> (Cost - $240,142,107) |  |  | 249231792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets - (0.3)% |  |  | (754918) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  | $248476874 |

---

(a) The rate shown represents the yield as of December 31, 2022.

(b) Rate shown is one-day yield as of the end of the reporting period.

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 5

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

<u>Abbreviation(s) used in this schedule:</u> 

---

| | |
|:---|:---|
| LSE | — London Stock Exchange |
| REIT | — Real Estate Investment Trust |

---

At December 31, 2022, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Market<br>Value** | **Unrealized<br>Depreciation** |
| **Contracts to Buy:** |  |  |  |  |  |
|  MSCI EAFE Index | 4 | 3/23 | $406735 | $389880 | $(16855) |

---

At December 31, 2022, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency**<br>**Purchased** | **Currency**<br>**Purchased** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized**<br>**Appreciation<br>(Depreciation)** |
| USD | 152349 | CHF | 141241 | Bank of New York | 1/10/23 | $(490) |
| USD | 152868 | CHF | 141073 | Bank of New York | 1/10/23 | 210 |
| USD | 304098 | CHF | 280680 | Bank of New York | 1/10/23 | 368 |
| USD | 304319 | CHF | 282878 | Bank of New York | 1/10/23 | (1789) |
| USD | 605289 | CHF | 559127 | Bank of New York | 1/10/23 | 247 |
| USD | 913747 | CHF | 844888 | Bank of New York | 1/10/23 | (522) |
| USD | 23098996 | CHF | 21545519 | Bank of New York | 1/10/23 | (215820) |
| USD | 826 | DKK | 5777 | Bank of New York | 1/10/23 | (4) |
| USD | 828 | DKK | 5772 | Bank of New York | 1/10/23 | (1) |
| USD | 1644 | DKK | 11574 | Bank of New York | 1/10/23 | (18) |
| USD | 1646 | DKK | 11484 | Bank of New York | 1/10/23 | (3) |
| USD | 3278 | DKK | 22880 | Bank of New York | 1/10/23 | (9) |
| USD | 4964 | DKK | 34568 | Bank of New York | 1/10/23 | (2) |
| USD | 125051 | DKK | 879771 | Bank of New York | 1/10/23 | (1314) |
| USD | 425905 | EUR | 400734 | Bank of New York | 1/10/23 | (2090) |
| USD | 427267 | EUR | 400375 | Bank of New York | 1/10/23 | (345) |
| USD | 848247 | EUR | 802829 | Bank of New York | 1/10/23 | (9198) |
| USD | 849461 | EUR | 796592 | Bank of New York | 1/10/23 | (1322) |
| USD | 1691429 | EUR | 1587144 | Bank of New York | 1/10/23 | (3687) |
| USD | 2560317 | EUR | 2397857 | Bank of New York | 1/10/23 | (664) |
| USD | 64522820 | EUR | 61029434 | Bank of New York | 1/10/23 | (658385) |
| USD | 202437 | GBP | 168171 | Bank of New York | 1/10/23 | 85 |
| USD | 202451 | GBP | 167934 | Bank of New York | 1/10/23 | 384 |
| USD | 414373 | GBP | 336741 | Bank of New York | 1/10/23 | 9189 |
| USD | 414636 | GBP | 334125 | Bank of New York | 1/10/23 | 12599 |
| USD | 808562 | GBP | 665701 | Bank of New York | 1/10/23 | 7555 |
| USD | 1209990 | GBP | 1005764 | Bank of New York | 1/10/23 | (198) |
| USD | 31313282 | GBP | 25599332 | Bank of New York | 1/10/23 | 510813 |
| USD | 77495 | HKD | 603926 | Bank of New York | 1/10/23 | 101 |
| USD | 77529 | HKD | 604103 | Bank of New York | 1/10/23 | 112 |

---

**See Notes to Schedules of Investments.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Purchased**<br>**Currency** | **Purchased**<br>**Currency** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized**<br>**Appreciation<br>(Depreciation)** |
| USD | 154406 | HKD | 1201579 | Bank of New York | 1/10/23 | $422 |
| USD | 155539 | HKD | 1210987 | Bank of New York | 1/10/23 | 349 |
| USD | 307417 | HKD | 2393474 | Bank of New York | 1/10/23 | 689 |
| USD | 463465 | HKD | 3616926 | Bank of New York | 1/10/23 | (50) |
| USD | 11844219 | HKD | 92204340 | Bank of New York | 1/10/23 | 28072 |
| USD | 245089 | JPY | 32844409 | Bank of New York | 1/10/23 | (4185) |
| USD | 246496 | JPY | 32813872 | Bank of New York | 1/10/23 | (2546) |
| USD | 483559 | JPY | 65798154 | Bank of New York | 1/10/23 | (15817) |
| USD | 484774 | JPY | 65286938 | Bank of New York | 1/10/23 | (10723) |
| USD | 992808 | JPY | 130113397 | Bank of New York | 1/10/23 | 5310 |
| USD | 1490396 | JPY | 196523143 | Bank of New York | 1/10/23 | (1120) |
| USD | 36837525 | JPY | 5007862680 | Bank of New York | 1/10/23 | (1169743) |
| USD | 2558 | NOK | 25279 | Bank of New York | 1/10/23 | (10) |
| USD | 2562 | NOK | 25328 | Bank of New York | 1/10/23 | (10) |
| USD | 5085 | NOK | 50689 | Bank of New York | 1/10/23 | (63) |
| USD | 5156 | NOK | 50295 | Bank of New York | 1/10/23 | 48 |
| USD | 10142 | NOK | 100232 | Bank of New York | 1/10/23 | (38) |
| USD | 15372 | NOK | 151395 | Bank of New York | 1/10/23 | (3) |
| USD | 385624 | NOK | 3841908 | Bank of New York | 1/10/23 | (4547) |
| USD | 14747 | SEK | 154147 | Bank of New York | 1/10/23 | (56) |
| USD | 14781 | SEK | 154394 | Bank of New York | 1/10/23 | (46) |
| USD | 29974 | SEK | 309095 | Bank of New York | 1/10/23 | 291 |
| USD | 30111 | SEK | 306694 | Bank of New York | 1/10/23 | 658 |
| USD | 58813 | SEK | 611147 | Bank of New York | 1/10/23 | 123 |
| USD | 88633 | SEK | 923193 | Bank of New York | 1/10/23 | (24) |
| USD | 2280187 | SEK | 23540793 | Bank of New York | 1/10/23 | 19495 |
| USD | 138866 | AUD | 205466 | UBS Securities LLC | 1/10/23 | (532) |
| USD | 138913 | AUD | 205277 | UBS Securities LLC | 1/10/23 | (357) |
| USD | 280034 | AUD | 411619 | UBS Securities LLC | 1/10/23 | 771 |
| USD | 281325 | AUD | 408421 | UBS Securities LLC | 1/10/23 | 4232 |
| USD | 542583 | AUD | 813348 | UBS Securities LLC | 1/10/23 | (9233) |
| USD | 833897 | AUD | 1229407 | UBS Securities LLC | 1/10/23 | (194) |
| USD | 21110201 | AUD | 31175995 | UBS Securities LLC | 1/10/23 | (41151) |
| USD | 139581 | CAD | 189661 | UBS Securities LLC | 1/10/23 | (403) |
| USD | 139769 | CAD | 189640 | UBS Securities LLC | 1/10/23 | (198) |
| USD | 278728 | CAD | 377311 | UBS Securities LLC | 1/10/23 | 245 |
| USD | 279004 | CAD | 380266 | UBS Securities LLC | 1/10/23 | (1660) |
| USD | 551921 | CAD | 750904 | UBS Securities LLC | 1/10/23 | (2300) |
| USD | 838235 | CAD | 1135761 | UBS Securities LLC | 1/10/23 | (37) |
| USD | 21276715 | CAD | 28893822 | UBS Securities LLC | 1/10/23 | (48988) |
| USD | 140022 | SGD | 188878 | UBS Securities LLC | 1/10/23 | (832) |
| USD | 140333 | SGD | 188815 | UBS Securities LLC | 1/10/23 | (474) |
| USD | 279196 | SGD | 375670 | UBS Securities LLC | 1/10/23 | (957) |

---

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 7

------

**FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Purchased**<br>**Currency** | **Purchased**<br>**Currency** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized**<br>**Appreciation<br>(Depreciation)** |
| USD | 280088 | SGD | 378611 | UBS Securities LLC | 1/10/23 | $(2258) |
| USD | 554352 | SGD | 748405 | UBS Securities LLC | 1/10/23 | (3765) |
| USD | 843230 | SGD | 1130820 | UBS Securities LLC | 1/10/23 | (71) |
| USD | 21297216 | SGD | 28817817 | UBS Securities LLC | 1/10/23 | (193447) |
|  Total | Total |  |  |  |  | $(1809331) |

---

<u>Abbreviation(s) used in this table:</u> 

---

| | |
|:---|:---|
| AUD | — Australian Dollar |
| CAD | — Canadian Dollar |
| CHF | — Swiss Franc |
| DKK | — Danish Krone |
| EUR | — Euro |
| GBP | — British Pound |
| HKD | — Hong Kong Dollar |
| JPY | — Japanese Yen |
| NOK | — Norwegian Krone |
| SEK | — Swedish Krona |
| SGD | — Singapore Dollar |
| USD | — United States Dollar |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

**See Notes to Schedules of Investments.** 

8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **COMMON STOCKS - 99.5%** |  |  |  |
| **COMMUNICATION SERVICES - 7.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - 4.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AT&T Inc. | 1140653 | $20999422 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications Inc. | 588795 | 23198523 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* |  | *44197945* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 2.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interpublic Group of Cos. Inc. | 331908 | 11055855 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Omnicom Group Inc. | 156372 | 12755264 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* |  | *23811119* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  | 68009064 |  |
| **CONSUMER STAPLES - 23.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverages - 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Co. | 384773 | 24475411 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PepsiCo Inc. | 124197 | 22437430 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Beverages* |  | *46912841* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food Products - 7.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Campbell Soup Co. | 197202 | 11191214 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flowers Foods Inc. | 104003 | 2989046 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Mills Inc. | 275593 | 23108473 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JM Smucker Co. | 87281 | 13830547 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kellogg Co. | 269660 | 19210578 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food Products* |  | *70329858* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Products - 7.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 305934 | 24104540 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 182433 | 24765280 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 166196 | 25188666 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reynolds Consumer Products Inc. | 39481 | 1183640 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Household Products* |  | *75242126* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tobacco - 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International Inc. | 260065 | 26321179 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Universal Corp. | 14166 | 748106 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Tobacco* |  | *27069285* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER STAPLES** |  | 219554110 |  |
| **ENERGY - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DT Midstream Inc. | 51357 | 2837988 |  |

---

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 9

------

**FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **FINANCIALS - 9.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - 5.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Hawaii Corp. | 19991 | $1550502 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup Inc. | 475195 | 21493070 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Financial Bancorp | 32310 | 782871 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Hawaiian Inc. | 55484 | 1444803 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northwest Bancshares Inc. | 93609 | 1308654 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Old National Bancorp | 387369 | 6964895 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Bankshares Inc. | 66088 | 2675903 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 349985 | 15262846 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WesBanco Inc. | 22307 | 824913 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Banks* |  | *52308457* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CME Group Inc. | 76239 | 12820350 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cohen & Steers Inc. | 8923 | 576069 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Capital Markets* |  | *13396419* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNA Financial Corp. | 15664 | 662274 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F&G Annuities & Life Inc. | 16794 | 336048 | \* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Financial Inc. | 246954 | 9290409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First American Financial Corp. | 85887 | 4495326 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Safety Insurance Group Inc. | 6475 | 545583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Insurance* |  | *15329640* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Thrifts & Mortgage Finance - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Community Bancorp Inc. | 716394 | 6160988 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Financial Services Inc. | 35338 | 754820 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Thrifts & Mortgage Finance* |  | *6915808* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  | 87950324 |  |
| **HEALTH CARE - 8.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Biotechnology - 3.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AbbVie Inc. | 19528 | 3155920 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences Inc. | 325327 | 27929323 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Biotechnology* |  | *31085243* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals - 5.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 137207 | 24237616 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pfizer Inc. | 455919 | 23361290 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Pharmaceuticals* |  | *47598906* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL HEALTH CARE** |  | 78684149 |  |

---

**See Notes to Schedules of Investments.** 

10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| **INDUSTRIALS - 9.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace & Defense - 2.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 48929 | $*23803469* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Conglomerates - 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3M Co. | 175624 | *21060830* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery - 3.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cummins Inc. | 95793 | 23209686 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PACCAR Inc. | 72609 | 7186113 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Machinery* |  | *30395799* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Trading Companies & Distributors - 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fastenal Co. | 286092 | 13537873 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSC Industrial Direct Co. Inc., Class A Shares | 39821 | 3253376 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Trading Companies & Distributors* |  | *16791249* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INDUSTRIALS** |  | 92051347 |  |
| **INFORMATION TECHNOLOGY - 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communications Equipment - 2.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems Inc. | 475925 | *22673067* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology Hardware, Storage & Peripherals - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 223757 | *11771856* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INFORMATION TECHNOLOGY** |  | 34444923 |  |
| **MATERIALS - 4.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals - 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Products & Chemicals Inc. | 89164 | *27485694* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging - 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Paper Co. | 292223 | 10119683 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Packaging Corp. of America | 52809 | 6754799 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Containers & Packaging* |  | *16874482* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MATERIALS** |  | 44360176 |  |
| **REAL ESTATE - 10.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - 10.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agree Realty Corp. | 81871 | 5807110 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armada Hoffler Properties Inc. | 49501 | 569262 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadstone Net Lease Inc. | 118301 | 1917659 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CareTrust REIT Inc. | 80327 | 1492476 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Office Properties Trust | 75337 | 1954242 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CubeSmart | 152853 | 6152333 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Easterly Government Properties Inc. | 70940 | 1012314 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Corners Property Trust Inc. | 46805 | 1213654 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gaming and Leisure Properties Inc. | 188663 | 9827456 |  |

---

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 11

------

**FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SHARES** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Getty Realty Corp. | 26595 | $900241 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare Realty Trust Inc. | 225620 | 4347697 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highwoods Properties Inc. | 72838 | 2038007 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Logistics Properties Trust | 97326 | 318256 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 383757 | 8127973 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LXP Industrial Trust | 130764 | 1310255 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medical Properties Trust Inc. | 1398091 | 15574734 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Health Investors Inc. | 25393 | 1326022 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Retail Properties Inc. | 110843 | 5072176 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Physicians Realty Trust | 248103 | 3590050 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit Realty Capital Inc. | 78886 | 3149918 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; STAG Industrial Inc. | 136245 | 4402076 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; STORE Capital Corp. | 258971 | 8302610 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WP Carey Inc. | 109790 | 8580089 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** |  | 96986610 |  |
| **UTILITIES - 23.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities - 16.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALLETE Inc. | 32125 | 2072384 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 166846 | 9211568 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co. Inc. | 251977 | 23925216 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avangrid Inc. | 77033 | 3310878 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | 241147 | 24835729 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 113464 | 12764700 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evergy Inc. | 126635 | 7969141 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy | 175048 | 14676024 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 541984 | 23429968 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Electric Industries Inc. | 33843 | 1416330 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OGE Energy Corp. | 114326 | 4521593 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | 85405 | 6494196 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portland General Electric Co. | 102983 | 5046167 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy Inc. | 284253 | 19928978 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electric Utilities* |  | *159602872* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northwest Natural Holding Co. | 24642 | 1172713 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spire Inc. | 33361 | 2297239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UGI Corp. | 183862 | 6815764 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Gas Utilities* |  | *10285716* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multi-Utilities - 5.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avista Corp. | 40802 | 1809161 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Hills Corp. | 29985 | 2109145 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison Inc. | 169988 | 16201556 |  |

---

**See Notes to Schedules of Investments.** 

12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report

------

**FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF** 

---

| | |
|:---|:---|
|  **Schedules of investments (unaudited) (cont'd)**<br>(Percentages shown based on Fund net assets) | **December 31, 2022** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **SECURITY** | **SHARES** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Multi-Utilities - (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy Inc. |  | 308315 | $18905876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NorthWestern Corp. |  | 48235 | 2862265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group Inc. |  | 141694 | 13285229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Multi-Utilities* |  |  | *55173232* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL UTILITIES** |  |  | 225061820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $930,355,256) |  |  | 949940511 |
|  | **RATE** |  |  |
| **SHORT-TERM INVESTMENTS - 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Treasury Portfolio, Institutional Class<br> (Cost - $8,730,385) | 4.235% | 8730385 | 8730385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.4%**<br> (Cost - $939,085,641) |  |  | 958670896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets - (0.4)% |  |  | (4294140) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  | $954376756 |

---

\* Non-income producing security.

(a) Rate shown is one-day yield as of the end of the reporting period.

<u>Abbreviation(s) used in this schedule:</u> 

REIT — Real Estate Investment Trust

At December 31, 2022, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Market<br>Value** | **Unrealized<br>Depreciation** |
| **Contracts to Buy:** |  |  |  |  |  |
|  E-mini S&P 500 Index | 15 | 3/23 | $3041639 | $2895750 | $(145889) |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

**See Notes to Schedules of Investments.** 

Franklin Low Volatility High Dividend Index ETFs 2022 Quarterly Report 13

------

**Notes to Schedules of Investments (unaudited)** 

**1. Organization and significant accounting policies** 

Franklin International Low Volatility High Dividend Index ETF ("International Low Volatility High Dividend Index ETF") and Franklin U.S. Low Volatility High Dividend Index ETF ("U.S. Low Volatility High Dividend Index ETF") (the "Funds") (prior to June 22, 2022, the Funds were known as Legg Mason International Low Volatility High Dividend ETF and Legg Mason Low Volatility High Dividend ETF) are separate diversified investment series of Legg Mason ETF Investment Trust (the "Trust"). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Funds are exchange-traded funds ("ETFs"). ETFs are funds that trade like other publicly-traded securities. The Funds are designed to track an index. Similar to shares of an index mutual fund, each share of the Funds represents an ownership interest in an underlying portfolio of securities intended to track an index. Unlike shares of a mutual fund, which can be bought from and redeemed by the issuing fund by all shareholders at a price based on net asset value ("NAV"), shares of the Funds may be directly purchased from and redeemed by the Funds at NAV solely by certain large institutional investors who have entered into agreements with the Funds' distributor ("Authorized Participants"). Also unlike shares of a mutual fund, shares of the Funds are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.

Shares of the Funds are listed and traded at market prices on the Cboe BZX Exchange, Inc. for International Low Volatility High Dividend Index ETF and NASDAQ for U.S. Low Volatility High Dividend Index ETF. The market price for a Fund's shares may be different from a Fund's NAV. The Funds issue and redeem shares at NAV only in blocks of a specified number of shares or multiples thereof ("Creation Units"). Only Authorized Participants may purchase or redeem Creation Units directly with the Funds at NAV. Creation Units are issued and redeemed generally in-kind for a basket of securities and/or cash. Except when aggregated in Creation Units, shares of the Funds are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Funds at NAV.

International Low Volatility High Dividend Index ETF and U.S. Low Volatility High Dividend Index ETF seek to track the investment results of the QS International Low Volatility High Dividend Hedged Index and QS Low Volatility High Dividend Index, respectively (together, the "Indices"). The QS International Low Volatility High Dividend Hedged Index seeks to provide more stable income through investments in stocks of profitable companies in developed markets outside of the United States with relatively high dividend yields or anticipated dividend yields and lower price and earnings volatility while mitigating exposure to exchange-rate fluctuations between the U.S. dollar and other international currencies. The QS Low Volatility High Dividend Index seeks to provide more stable income through investments in stocks of profitable U.S. companies with relatively high dividend yields and lower price and earnings volatility. The Indices are based on a proprietary methodology created and sponsored by Franklin Advisers, Inc., the Funds' subadviser.

The Funds follow the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Funds and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

<br>14<br>

------

**Notes to Schedules of Investments (unaudited) (continued)** 

**(a) Investment valuation.** Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. When the Funds hold securities or other assets that are denominated in a foreign currency, the Funds will use the currency exchange rates, generally determined as of 4:00 p.m. (London Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before eachFund calculates its net asset value, the Funds value these securities as determined in accordance with procedures approved by the Funds' Board of Trustees.

Pursuant to policies adopted by the Board of Trustees, the Funds' manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Funds' manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Funds' pricing policies, and reporting to the Funds' manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Funds, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

<br>15<br>

------

**Notes to Schedules of Investments (unaudited) (continued)** 

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – other significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – significant unobservable inputs (including the Funds' own assumptions in determining the
fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Funds' assets and liabilities carried at fair value:

**International Low Volatility High Dividend Index ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS<br>(LEVEL 3)** | **TOTAL** |
|  Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | $246948306 |  |  | $246948306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | 1745370 |  |  | 1745370 |
|  Total Long-Term Investments | 248693676 |  |  | 248693676 |
|  Short-Term Investments† | 538116 |  |  | 538116 |
|  Total Investments | $249231792 |  |  | $249231792 |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $602368 |  | $602368 |
|  Total | $249231792 | $602368 |  | $249834160 |
| **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS<br>(LEVEL 3)** | **TOTAL** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts†† | $16855 |  |  | $16855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $2411699 |  | 2411699 |
|  Total | $16855 | $2411699 |  | $2428554 |

---

† See Schedule of Investments for additional detailed categorizations.

†† Reflects the unrealized appreciation (depreciation) of the instruments.

<br>16<br>

------

**Notes to Schedules of Investments (unaudited) (continued)** 

**U.S. Low Volatility High Dividend Index ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS<br>(LEVEL 3)** | **TOTAL** |
|  Common Stocks† | $949940511 |  |  | $949940511 |
|  Short-Term Investments† | 8730385 |  |  | 8730385 |
|  Total Investments | $958670896 |  |  | $958670896 |
| **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS<br>(LEVEL 3)** | **TOTAL** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts†† | $145889 |  |  | $145889 |

---

† See Schedule of Investments for additional detailed categorizations.

†† Reflects the unrealized appreciation (depreciation) of the instruments.

<br>17<br>

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Legg Mason ETF Investment Trust

- **b. Investment Company Act file number:** 811-23096

- **c. CIK number of Registrant:** 0001645194

- **d. LEI of Registrant:** 549300D7ZZ1A7JJ9G964

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-877-721-1926

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

- **a. Name of Series:** Franklin International Low Volatility High Dividend Index ETF

- **b. EDGAR series identifier (if any):** S000054583

- **c. LEI of Series:** 549300U5VMZRL3H15M55

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**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:** $251050418.71

**Total Liabilities:** $2569626.90

**Net Assets:** $248480791.81

**Cash Not Reported:** $485030.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000171451 | 4.48%                | 6.79%                | -1.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $7297298.98                                |
| Month 2  | $0.00                    | $20234745.06                               |
| Month 3  | $-3813587.54             | $6556616.10                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-215819.67   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccio | ACS Actividades de Construccion y Servicios SA        | CUSIP: 000000000<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |     60316 | NS      | $1723246.24   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Gaia Corp                    | T-Gaia Corp                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     14600 | NS      | $180363.03    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-18.29       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2090.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7555.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Aurizon Holdings Ltd           | Aurizon Holdings Ltd                                  | CUSIP: 000000000<br>LEI: 5299005PC1O6NOWL3H48 | Long             | EC               | CORP              | AU        |   1302107 | NS      | $3293680.16   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropole Television SA        | Metropole Television SA                               | CUSIP: 000000000<br>LEI: 96950018NOMJX5XRH047 | Long             | EC               | CORP              | FR        |     15764 | NS      | $258250.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chudenko Corp                  | Chudenko Corp                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     12100 | NS      | $191479.78    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Securities LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9233.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-490.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cromwell Property Group        | Cromwell Property Group                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    555252 | NS      | $252284.66    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-532.35      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC              | National Grid PLC                                     | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     34561 | NS      | $414653.50    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Direct Line Insurance Group PL | Direct Line Insurance Group PLC                       | CUSIP: 000000000<br>LEI: 213800FF2R23ALJQOP04 | Long             | EC               | CORP              | GB        |    513631 | NS      | $1367295.30   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Itochu Enex Co Ltd             | Itochu Enex Co Ltd                                    | CUSIP: 000000000<br>LEI: 549300WO21DGCU3JY132 | Long             | EC               | CORP              | JP        |     21400 | NS      | $170298.23    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JM AB                          | JM AB                                                 | CUSIP: 000000000<br>LEI: 529900X0UEM9DOM6FK12 | Long             | EC               | CORP              | SE        |     24208 | NS      | $399846.13    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Seven Bank Ltd                 | Seven Bank Ltd                                        | CUSIP: 000000000<br>LEI: 353800WMG1NLGHB7B594 | Long             | EC               | CORP              | JP        |    874700 | NS      | $1736870.67   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9198.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.         | ICE US MINI MSCI EAFE INDEX                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |         4 | NC      | $-16854.88    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NTT                            | Nippon Telegraph & Telephone Corp                     | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |    214400 | NS      | $6112947.06   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Mapletree Industrial Trust     | Mapletree Industrial Trust                            | CUSIP: 000000000<br>LEI: 549300R7WZFHXNKDJF41 | Long             | EC               | CORP              | SG        |    565600 | NS      | $936200.42    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Hutchison Holdings Ltd      | CK Hutchison Holdings Ltd                             | CUSIP: 000000000<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | HK        |    411004 | NS      | $2467092.99   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Sasseur Real Estate Investment | Sasseur Real Estate Investment Trust                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    261500 | NS      | $147205.86    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4.08        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10.14       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BOC Hong Kong Holdings Ltd     | BOC Hong Kong Holdings Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    859426 | NS      | $2929004.23   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Naturgy Energy Group SA        | Naturgy Energy Group SA                               | CUSIP: 000000000<br>LEI: TL2N6M87CW970S5SV098 | Long             | EC               | CORP              | ES        |     54957 | NS      | $1425851.87   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cibus Nordic Real Estate AB    | Cibus Nordic Real Estate AB                           | CUSIP: 000000000<br>LEI: 549300PW36MFK96GCR23 | Long             | EC               | CORP              | SE        |     11455 | NS      | $157651.23    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10722.46    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Allreal Holding AG             | Allreal Holding AG                                    | CUSIP: 000000000<br>LEI: 5067006XH174LA44H658 | Long             | EC               | CORP              | CH        |      1669 | NS      | $271311.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| VTech Holdings Ltd             | VTech Holdings Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |     21068 | NS      | $135775.42    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CSR Ltd                        | CSR Ltd                                               | CUSIP: 000000000<br>LEI: 549300TOGR54OMW2T093 | Long             | EC               | CORP              | AU        |    436832 | NS      | $1395279.68   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1659.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $689.04       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $510813.19    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Infrastructure Holdings Ltd | CK Infrastructure Holdings Ltd                        | CUSIP: 000000000<br>LEI: 5299005U11RQ1C27MR12 | Long             | EC               | CORP              | HK        |    160360 | NS      | $839301.47    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Italgas SpA                    | Italgas SpA                                           | CUSIP: 000000000<br>LEI: 815600F25FF44EF1FA76 | Long             | EC               | CORP              | IT        |    104474 | NS      | $578684.72    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia/The        | Bank of Nova Scotia/The                               | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     95247 | NS      | $4663408.97   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $770.98       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AEON REIT Investment Corp      | AEON REIT Investment Corp                             | CUSIP: 000000000<br>LEI: 353800P59F8MJB4FE788 | Long             | EC               | CORP              | JP        |       752 | NS      | $880548.71    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Real Estate Investmen | Frontier Real Estate Investment Corp                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       153 | NS      | $593701.92    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Takara Leben Real Estate Inves | Takara Leben Real Estate Investment Corp              | CUSIP: 000000000<br>LEI: 353800B55299YP0HS329 | Long             | EC               | CORP              | JP        |       842 | NS      | $634315.81    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-56.43       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd      | Woodside Energy Group Ltd                             | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |     36500 | NS      | $877228.02    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| LEG Immobilien SE              | LEG Immobilien SE                                     | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | EC               | CORP              | DE        |     12548 | NS      | $815028.68    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gjensidige Forsikring ASA      | Gjensidige Forsikring ASA                             | CUSIP: 000000000<br>LEI: 5967007LIEEXZX6FAO47 | Long             | EC               | CORP              | NO        |     21370 | NS      | $416943.86    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cofinimmo SA                   | Cofinimmo SA                                          | CUSIP: 000000000<br>LEI: 549300TM914CSF6KI389 | Long             | EC               | CORP              | BE        |      3066 | NS      | $273882.35    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-41150.58    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Kemira Oyj                     | Kemira Oyj                                            | CUSIP: 000000000<br>LEI: 74370031Y7RK5H88CQ48 | Long             | EC               | CORP              | FI        |     13597 | NS      | $207948.47    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                  | BHP Group Ltd                                         | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    201979 | NS      | $6250037.23   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp                | Mitsubishi Corp                                       | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |    203700 | NS      | $6612202.81   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Securities LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2300.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-344.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Proximus SADP                  | Proximus SADP                                         | CUSIP: 000000000<br>LEI: 549300CWRXC5EP004533 | Long             | EC               | CORP              | BE        |     90396 | NS      | $867890.82    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC                           | Canadian Imperial Bank of Commerce                    | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |    108785 | NS      | $4397324.22   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $368.49       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-402.66      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Okumura Corp                   | Okumura Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     18000 | NS      | $407215.13    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Keppel Corp Ltd                | Keppel Corp Ltd                                       | CUSIP: 000000000<br>LEI: 254900SQ7IPDOY6IDW33 | Long             | EC               | CORP              | SG        |    235700 | NS      | $1275858.93   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Assets Holdings Ltd      | Power Assets Holdings Ltd                             | CUSIP: 000000000<br>LEI: 254900JOWYUW1ZX4DF47 | Long             | EC               | CORP              | HK        |    257049 | NS      | $1407932.75   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Hung Kai Properties Ltd    | Sun Hung Kai Properties Ltd                           | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |    256553 | NS      | $3510574.75   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3.41        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $209.89       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2545.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $348.68       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi                         | Sanofi                                                | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     65270 | NS      | $6258205.08   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Adecco Group AG                | Adecco Group AG                                       | CUSIP: 000000000<br>LEI: NI14Y5UMU60O7JE9P611 | Long             | EC               | CORP              | CH        |     25600 | NS      | $842818.85    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $19494.81     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia de Distribucion Integral L | Cia de Distribucion Integral Logista Holdings SA      | CUSIP: 000000000<br>LEI: 9598000ANNAL42UJ7X28 | Long             | EC               | CORP              | ES        |     23595 | NS      | $594290.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| HENDERSON LAND                 | Henderson Land Development Co Ltd                     | CUSIP: 000000000<br>LEI: 529900SYQB7IVR9QGN76 | Long             | EC               | CORP              | HK        |    166227 | NS      | $580360.64    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-658384.91   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3686.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc              | Japan Tobacco Inc                                     | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |    304300 | NS      | $6136968.43   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Securities LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3765.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oesterreichische Post AG       | Oesterreichische Post AG                              | CUSIP: 000000000<br>LEI: 529900MVUWACNUTK8467 | Long             | EC               | CORP              | AT        |      5319 | NS      | $166895.17    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Frasers Centrepoint Trust      | Frasers Centrepoint Trust                             | CUSIP: 000000000<br>LEI: 5493002RGQ266FKERZ83 | Long             | EC               | CORP              | SG        |    122800 | NS      | $192275.57    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4547.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-357.17      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bouygues SA                    | Bouygues SA                                           | CUSIP: 000000000<br>LEI: 969500MOCLNQFNZN0D63 | Long             | EC               | CORP              | FR        |     85904 | NS      | $2570738.08   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-62.83       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                   | Iberdrola SA                                          | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    564242 | NS      | $6581911.02   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-15817.05    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $247.45       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-832.03      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ACEA SpA                       | ACEA SpA                                              | CUSIP: 000000000<br>LEI: 549300Q3448N041CTH56 | Long             | EC               | CORP              | IT        |     11441 | NS      | $157758.56    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanki Engineering Co Ltd       | Sanki Engineering Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     20100 | NS      | $235968.77    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5309.53      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $290.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Snam SpA                       | Snam SpA                                              | CUSIP: 000000000<br>LEI: 8156002278562044AF79 | Long             | EC               | CORP              | IT        |    609622 | NS      | $2945354.41   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-36.72       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                                          | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    114414 | NS      | $5723221.54   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascendas REIT       | CapitaLand Ascendas REIT                              | CUSIP: 000000000<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               | CORP              | SG        |    937900 | NS      | $1916079.63   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-474.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Poste Italiane SpA             | Poste Italiane SpA                                    | CUSIP: 000000000<br>LEI: 815600354DEDBD0BA991 | Long             | EC               | CORP              | IT        |    252924 | NS      | $2463411.36   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Trading Corp      | Nippon Steel Trading Corp                             | CUSIP: 000000000<br>LEI: 353800F2E977DJG1MD36 | Long             | EC               | CORP              | JP        |      4600 | NS      | $322134.22    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9188.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1788.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1169743.38  | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd       | United Overseas Bank Ltd                              | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |    203800 | NS      | $4664971.67   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                                          | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      3246 | NS      | $163290.99    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                        | E.ON SE                                               | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |    507811 | NS      | $5058669.83   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Electrica Corp SA          | Red Electrica Corp SA                                 | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |    109513 | NS      | $1900433.39   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Assicurazioni Generali SpA     | Assicurazioni Generali SpA                            | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |    168970 | NS      | $2996238.53   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-0.71        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Eutelsat Communications SA     | Eutelsat Communications SA                            | CUSIP: 000000000<br>LEI: 549300EFWH9UR17YSK05 | Long             | EC               | CORP              | FR        |     55600 | NS      | $413000.39    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Terna - Rete Elettrica Naziona | Terna - Rete Elettrica Nazionale                      | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |    292277 | NS      | $2152336.48   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG    | Bayerische Motoren Werke AG                           | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EP               | CORP              | DE        |     20558 | NS      | $1745369.89   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4184.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-193447.12   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| NCC AB                         | NCC AB                                                | CUSIP: 000000000<br>LEI: 213800WRGLW3CY4MHW53 | Long             | EC               | CORP              | SE        |     27466 | NS      | $256352.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $47.92        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HKELECTRIC-SS                  | HK Electric Investments & HK Electric Investments Ltd | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    304868 | NS      | $201944.61    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8.64        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                       | Engie SA                                              | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    406439 | NS      | $5807343.46   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $122.71       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barratt Developments PLC       | Barratt Developments PLC                              | CUSIP: 000000000<br>LEI: 2138006R85VEOF5YNK29 | Long             | EC               | CORP              | GB        |    109396 | NS      | $522159.03    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Holdings Co Ltd     | Japan Post Holdings Co Ltd                            | CUSIP: 000000000<br>LEI: 5299003D9N4JBS256X18 | Long             | EC               | CORP              | JP        |    852700 | NS      | $7170189.47   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $383.76       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $101.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV             | Koninklijke KPN NV                                    | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    916794 | NS      | $2827717.63   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvey Norman Holdings Ltd     | Harvey Norman Holdings Ltd                            | CUSIP: 000000000<br>LEI: 529900ONRWOF42PYKU59 | Long             | EC               | CORP              | AU        |    755069 | NS      | $2114767.41   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera Inc                      | Emera Inc                                             | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |    158766 | NS      | $6063796.08   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG    | Bayerische Motoren Werke AG                           | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |     70350 | NS      | $6260260.81   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubis SCA                      | Rubis SCA                                             | CUSIP: 000000000<br>LEI: 969500MGFIKUGLTC9742 | Long             | EC               | CORP              | FR        |     23999 | NS      | $630078.54    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $84.62        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-48987.90    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Swisscom AG                    | Swisscom AG                                           | CUSIP: 000000000<br>LEI: 5493005SL9HHOXS3B739 | Long             | EC               | CORP              | CH        |      6823 | NS      | $3735983.35   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Legal & General Group PLC      | Legal & General Group PLC                             | CUSIP: 000000000<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |    277964 | NS      | $834235.73    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $658.35       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco PLC                      | Tesco PLC                                             | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |   1717359 | NS      | $4631550.25   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Long Wale REIT    | Charter Hall Long Wale REIT                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    130858 | NS      | $393124.33    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Telenet Group Holding NV       | Telenet Group Holding NV                              | CUSIP: 000000000<br>LEI: 213800FA3K4S56INQI67 | Long             | EC               | CORP              | BE        |     14903 | NS      | $242554.86    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC            | Imperial Brands PLC                                   | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |    237657 | NS      | $5920527.34   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1314.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Samhallsbyggnadsbolaget i Nord | Samhallsbyggnadsbolaget i Norden AB                   | CUSIP: 000000000<br>LEI: 549300HX9MRFY47AH564 | Long             | EC               | CORP              | SE        |     72435 | NS      | $131390.33    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SingTel                        | Singapore Telecommunications Ltd                      | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |   1862900 | NS      | $3569678.65   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                      | Holcim AG                                             | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |    119693 | NS      | $6194229.18   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC                          | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    153082 | NS      | $6042632.99   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $12599.24     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-198.43      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd         | DBS Group Holdings Ltd                                | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    256100 | NS      | $6476969.88   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-957.36      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SmartCentres Real Estate Inves | SmartCentres Real Estate Investment Trust             | CUSIP: 83179X108<br>LEI: 549300HKEP2IYWZ14H97 | Long             | EC               | CORP              | CA        |     80689 | NS      | $1594783.14   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $112.22       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp L | Oversea-Chinese Banking Corp Ltd                      | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |    401700 | NS      | $3648006.26   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $245.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG      | Zurich Insurance Group AG                             | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |     12955 | NS      | $6193251.73   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Kone Oyj                       | Kone Oyj                                              | CUSIP: 000000000<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |     58541 | NS      | $3017683.60   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $422.02       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Great-West Lifeco Inc          | Great-West Lifeco Inc                                 | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |    180180 | NS      | $4162245.10   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                    | Novartis AG                                           | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     72849 | NS      | $6581763.85   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1322.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Scandinavian Tobacco Group A/S | Scandinavian Tobacco Group A/S                        | CUSIP: 000000000<br>LEI: 5299003KG4JS99TRML67 | Long             | EC               | CORP              | DK        |      7391 | NS      | $129515.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Waypoint REIT Ltd              | Waypoint REIT Ltd                                     | CUSIP: 000000000<br>LEI: 5493003CS5K82RREKA54 | Long             | EC               | CORP              | AU        |    463152 | NS      | $863738.26    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Nishimatsu Construction Co Ltd | Nishimatsu Construction Co Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     43100 | NS      | $1278839.67   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-46.12       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Properties Ltd           | Kerry Properties Ltd                                  | CUSIP: 000000000<br>LEI: 5299006T5ULIIRZ7LK49 | Long             | EC               | CORP              | HK        |     68316 | NS      | $148799.42    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CT Real Estate Investment Trus | CT Real Estate Investment Trust                       | CUSIP: 126462100<br>LEI: 549300QXEHJXT6D53X16 | Long             | EC               | CORP              | CA        |     37326 | NS      | $429471.45    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Securitas AB                   | Securitas AB                                          | CUSIP: 000000000<br>LEI: 635400TTYKE8EIWDS617 | Long             | EC               | CORP              | SE        |    164202 | NS      | $1370411.82   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                  | SoftBank Corp                                         | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    578100 | NS      | $6519480.09   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio     | Invesco Treasury Portfolio                            | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |    538116 | NS      | $538115.58    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4231.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                                         | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    100127 | NS      | $6983274.22   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto Ltd                  | Rio Tinto Ltd                                         | CUSIP: 000000000<br>LEI: 529900X2VMAQT2PE0V24 | Long             | EC               | CORP              | AU        |     88256 | NS      | $6967234.81   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd    | Daiwa House Industry Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     53700 | NS      | $1236835.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HKT Trust & HKT Ltd            | HKT Trust & HKT Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    568231 | NS      | $696733.57    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS SECURITIES LLC             | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2258.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Rogers Sugar Inc               | Rogers Sugar Inc                                      | CUSIP: 77519R102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     42034 | NS      | $176518.29    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                      | Orange SA                                             | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |    555656 | NS      | $5503857.94   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Banque Cantonale Vaudoise      | Banque Cantonale Vaudoise                             | CUSIP: 000000000<br>LEI: K1MOBB3OPSBBQO554R76 | Long             | EC               | CORP              | CH        |      5666 | NS      | $543512.21    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Peab AB                        | Peab AB                                               | CUSIP: 000000000<br>LEI: 549300FQS4VD3153I854 | Long             | EC               | CORP              | SE        |     21301 | NS      | $120820.49    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9.47        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon    | CURRENCY CONTRACT - USD                               | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $28071.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| A2A SpA                        | A2A SpA                                               | CUSIP: 000000000<br>LEI: 81560076E3944316DB24 | Long             | EC               | CORP              | IT        |    865368 | NS      | $1149837.90   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| IGM Financial Inc              | IGM Financial Inc                                     | CUSIP: 449586106<br>LEI: 254900RYHLVJNTUFDA95 | Long             | EC               | CORP              | CA        |     21203 | NS      | $591515.11    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Legg Mason ETF Investment Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer