# EDGAR Filing Document

**Accession Number:** 0001919700
**File Stem:** 0001193125-25-295416
**Filing Date:** 2025-11
**Character Count:** 193668
**Document Hash:** ae14994451a25bc7cc7b0996bd533c79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-295416.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001193125-25-295416

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Touchstone ETF Trust
- **CENTRAL INDEX KEY:** 0001919700

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23789
- **FILM NUMBER:** 251516066

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202
- **BUSINESS PHONE:** 513-362-8224

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202

## Series and Classes Contracts Data

### Touchstone International Equity ETF (Series ID: S000089352)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000255873 | Touchstone International Equity ETF | TLCI            |

## Nport-Ex

Portfolio of Investments

Touchstone Climate Transition ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0%** |  |
|  | &nbsp;&nbsp;**Industrials — 28.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1278 | &nbsp;&nbsp;Advanced Drainage Systems, Inc. | $177259 |
| &nbsp;&nbsp;&nbsp;&nbsp;2067 | &nbsp;&nbsp;AECOM | &nbsp;&nbsp; 269681 |
| &nbsp;&nbsp;&nbsp;&nbsp;2801 | &nbsp;&nbsp;Ashtead Group PLC (United Kingdom) | &nbsp;&nbsp; 187035 |
| 13200 | &nbsp;&nbsp;Atlas Copco AB (Sweden) - Class A | &nbsp;&nbsp; 222795 |
| &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;Contemporary Amperex Technology Co. Ltd. (China) - Class A | &nbsp;&nbsp; 288012 |
| &nbsp;&nbsp;&nbsp;&nbsp;5116 | &nbsp;&nbsp;Copart, Inc.\* | &nbsp;&nbsp; 230067 |
| &nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 255672 |
| &nbsp;&nbsp;&nbsp;&nbsp;3207 | &nbsp;&nbsp;NEXTracker, Inc. - Class A\* | &nbsp;&nbsp; 237286 |
| &nbsp;&nbsp;&nbsp;&nbsp;2647 | &nbsp;&nbsp;nVent Electric PLC | &nbsp;&nbsp; 261100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp; 121395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp; 139198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;Siemens AG (Germany) | &nbsp;&nbsp; 230343 |
| &nbsp;&nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;Trex Co., Inc.\* | &nbsp;&nbsp; 189887 |
| &nbsp;&nbsp;&nbsp;&nbsp;2577 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 252469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp; 193796 |
| &nbsp;&nbsp;&nbsp;&nbsp;1722 | &nbsp;&nbsp;Vertiv Holdings Co. - Class A | &nbsp;&nbsp; 259781 |
| &nbsp;&nbsp;&nbsp;&nbsp;1739 | &nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp; 256502 |
|  |  | &nbsp;&nbsp; 3772278 |
|  | &nbsp;&nbsp;**Information Technology — 25.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;ASM International NV (Netherlands) | &nbsp;&nbsp; 242281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;ASML Holding NV (Netherlands) | &nbsp;&nbsp; 298475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;Autodesk, Inc.\* | &nbsp;&nbsp; 176942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;Cadence Design Systems, Inc.\* | &nbsp;&nbsp; 273983 |
| &nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;First Solar, Inc.\* | &nbsp;&nbsp; 239496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;Keyence Corp. (Japan) | &nbsp;&nbsp; 186564 |
| &nbsp;&nbsp;&nbsp;&nbsp;2469 | &nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp; 207569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp; 260541 |
| &nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 413834 |
| &nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;PTC, Inc.\* | &nbsp;&nbsp; 206065 |
| &nbsp;&nbsp;&nbsp;&nbsp;5078 | &nbsp;&nbsp;Samsung Electronics Co. Ltd. (South Korea) | &nbsp;&nbsp; 303656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 255550 |
| 31000 | &nbsp;&nbsp;Xiaomi Corp. (China) - Class B\* | &nbsp;&nbsp; 215113 |
|  |  | &nbsp;&nbsp; 3280069 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 14.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 272486 |
| &nbsp;&nbsp;&nbsp;&nbsp;3141 | &nbsp;&nbsp;Aptiv PLC (Jersey)\* | &nbsp;&nbsp; 270817 |
| 16481 | &nbsp;&nbsp;BYD Co. Ltd. (China) Class H | &nbsp;&nbsp; 233387 |
| &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;Compass Group PLC (United Kingdom) | &nbsp;&nbsp; 115643 |
| &nbsp;&nbsp;&nbsp;&nbsp;2819 | &nbsp;&nbsp;On Holding AG (Switzerland) - Class A\* | &nbsp;&nbsp; 119385 |
| &nbsp;&nbsp;&nbsp;&nbsp;2224 | &nbsp;&nbsp;O'Reilly Automotive, Inc.\* | &nbsp;&nbsp; 239770 |
| &nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;Shimano, Inc. (Japan) | &nbsp;&nbsp; 179150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;Tesla, Inc.\* | &nbsp;&nbsp; 209018 |
| 119725 | &nbsp;&nbsp;Yadea Group Holdings Ltd. (China) 144a | &nbsp;&nbsp; 213389 |
|  |  | &nbsp;&nbsp; 1853045 |
|  | &nbsp;&nbsp;**Materials — 12.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4867 | &nbsp;&nbsp;Antofagasta PLC (Chile) | &nbsp;&nbsp; 180070 |
| &nbsp;&nbsp;&nbsp;&nbsp;1614 | &nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp; 109155 |
| &nbsp;&nbsp;&nbsp;&nbsp;2047 | &nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp; 197720 |
| &nbsp;&nbsp;&nbsp;&nbsp;4829 | &nbsp;&nbsp;Johnson Matthey PLC (United Kingdom) | &nbsp;&nbsp; 130540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;Linde PLC | &nbsp;&nbsp; 246050 |
| &nbsp;&nbsp;&nbsp;&nbsp;4115 | &nbsp;&nbsp;Pan American Silver Corp. (Canada) | &nbsp;&nbsp; 159374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;Sika AG (Switzerland) | &nbsp;&nbsp; 117243 |
| &nbsp;&nbsp;&nbsp;&nbsp;2128 | &nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp; 296707 |
| &nbsp;&nbsp;&nbsp;&nbsp;1945 | &nbsp;&nbsp;Wheaton Precious Metals Corp. (Brazil) | &nbsp;&nbsp; 217529 |
|  |  | &nbsp;&nbsp; 1654388 |
|  | &nbsp;&nbsp;**Utilities — 9.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp; 182710 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Utilities — 9.0% (Continued)** |  |
| 27798 | &nbsp;&nbsp;Enel SpA (Italy) | $263244 |
| 15301 | &nbsp;&nbsp;National Grid PLC (United Kingdom) | &nbsp;&nbsp; 219674 |
| &nbsp;&nbsp;&nbsp;&nbsp;3603 | &nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp; 271990 |
| 10059 | &nbsp;&nbsp;SSE PLC (United Kingdom)<sup>†</sup> | &nbsp;&nbsp; 235599 |
|  |  | &nbsp;&nbsp; 1173217 |
|  | &nbsp;&nbsp;**Communication Services — 4.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1027 | &nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp; 249664 |
| &nbsp;&nbsp;&nbsp;&nbsp;2059 | &nbsp;&nbsp;Baidu, Inc. (China) ADR\* | &nbsp;&nbsp; 271314 |
|  |  | &nbsp;&nbsp; 520978 |
|  | &nbsp;&nbsp;**Health Care — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;Thermo Fisher Scientific, Inc.\* | &nbsp;&nbsp; 133381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp; 111203 |
|  |  | &nbsp;&nbsp; 244584 |
|  | &nbsp;&nbsp;**Real Estate — 1.5%** |  |
| 22009 | &nbsp;&nbsp;Segro PLC REIT (United Kingdom) | &nbsp;&nbsp; 193998 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;Kerry Group PLC (Ireland) - Class A | &nbsp;&nbsp; 130657 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $12823214 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 4.2%** |  |
| 555632 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 555632 |
|  | &nbsp;&nbsp;**Total Investment Securities—102.2%<br> (Cost $10,917,452)** | $13378846 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (2.2%)** | &nbsp;&nbsp;&nbsp; (290985) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $13087861 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *All or a portion of the security represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $234,214.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $213,389 or 1.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

#### Other Information:
*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$12823214* | *$—* | *$—* | *$12823214* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*555632* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*555632* |
| *Total* | *$13378846* | *$—* | *$—* | *$13378846* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Dividend Select ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.2%** |  |
|  | &nbsp;&nbsp;**Information Technology — 23.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481 | &nbsp;&nbsp;Analog Devices, Inc. | $609582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543 | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp; 902154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3807 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 1255967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9751 | &nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp; 667163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599 | &nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 733334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 | &nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp; 746391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3390 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 1755851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 894343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp; 623684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 656651 |
|  |  | &nbsp;&nbsp; 8845120 |
|  | &nbsp;&nbsp;**Financials — 15.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 798562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp; 777635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7053 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 673350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 794757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954 | &nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp; 616350 |
| &nbsp;&nbsp;&nbsp;&nbsp;13579 | &nbsp;&nbsp;US Bancorp | &nbsp;&nbsp; 656273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 665008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8846 | &nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 741472 |
|  |  | &nbsp;&nbsp; 5723407 |
|  | &nbsp;&nbsp;**Health Care — 11.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 545413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7270 | &nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp; 548085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4469 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 828642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8155 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 776682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp; 501902 |
| &nbsp;&nbsp;&nbsp;&nbsp;19665 | &nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp; 501064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 561113 |
|  |  | &nbsp;&nbsp; 4262901 |
|  | &nbsp;&nbsp;**Industrials — 10.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547 | &nbsp;&nbsp;3M Co. | &nbsp;&nbsp; 550424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 | &nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp; 794455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 507101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 | &nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp; 588569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4477 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 749136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7480 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 555988 |
|  |  | &nbsp;&nbsp; 3745673 |
|  | &nbsp;&nbsp;**Consumer Staples — 8.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015 | &nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp; 406030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3645 | &nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp; 376711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995 | &nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp; 561058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 666966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030 | &nbsp;&nbsp;Procter & Gamble Co. (The) | &nbsp;&nbsp; 619210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7669 | &nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp; 631465 |
|  |  | &nbsp;&nbsp; 3261440 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 7.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp; 781612 |
| &nbsp;&nbsp;&nbsp;&nbsp;10214 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 549411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp; 632091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 465977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557 | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp; 540664 |
|  |  | &nbsp;&nbsp; 2969755 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.2% (Continued)** |  |
|  | &nbsp;&nbsp;**Communication Services — 6.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;20895 | &nbsp;&nbsp;AT&T, Inc. | $590075 |
| &nbsp;&nbsp;&nbsp;&nbsp;15864 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 498447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 711614 |
| &nbsp;&nbsp;&nbsp;&nbsp;14048 | &nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp; 617410 |
|  |  | &nbsp;&nbsp; 2417546 |
|  | &nbsp;&nbsp;**Energy — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4305 | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp; 668523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6757 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 761852 |
|  |  | &nbsp;&nbsp; 1430375 |
|  | &nbsp;&nbsp;**Materials — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469 | &nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp; 400625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6442 | &nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp; 501832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5837 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 359209 |
|  |  | &nbsp;&nbsp; 1261666 |
|  | &nbsp;&nbsp;**Utilities — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804 | &nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp; 594495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6093 | &nbsp;&nbsp;Southern Co. (The) | &nbsp;&nbsp; 577434 |
|  |  | &nbsp;&nbsp; 1171929 |
|  | &nbsp;&nbsp;**Real Estate — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5286 | &nbsp;&nbsp;Alexandria Real Estate Equities, Inc. REIT | &nbsp;&nbsp; 440535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827 | &nbsp;&nbsp;American Tower Corp. REIT | &nbsp;&nbsp; 543689 |
|  |  | &nbsp;&nbsp; 984224 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $36074036 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 3.9%** |  |
| 1455168 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 1455168 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $32,013,694)** | $37529204 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (27473) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $37501731 |

---

*∞* *Open-End Fund.* 

*Ω* *Represents the 7-Day SEC yield as of September 30, 2025.* 

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$36074036* | *$—* | *$—* | *$36074036* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*1455168* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1455168* |
| *Total* | *$37529204* | *$—* | *$—* | *$37529204* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Dynamic International ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8%** |  |
|  | &nbsp;&nbsp;**Japan — 15.2%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;67995 | &nbsp;&nbsp;LY Corp. | $218903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405 | &nbsp;&nbsp;Konami Group Corp. | &nbsp;&nbsp; 491576 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp;Aisin Corp. | &nbsp;&nbsp; 482970 |
| &nbsp;&nbsp;&nbsp;&nbsp;18671 | &nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp; 488854 |
| &nbsp;&nbsp;&nbsp;&nbsp;21700 | &nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp; 444609 |
| &nbsp;&nbsp;&nbsp;&nbsp;18300 | &nbsp;&nbsp;Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 521955 |
|  | &nbsp;&nbsp;**Financials — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;25869 | &nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp; 587053 |
| &nbsp;&nbsp;&nbsp;&nbsp;22461 | &nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp; 652939 |
| &nbsp;&nbsp;&nbsp;&nbsp;15166 | &nbsp;&nbsp;T&D Holdings, Inc. | &nbsp;&nbsp; 371446 |
| &nbsp;&nbsp;&nbsp;&nbsp;11478 | &nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp; 486564 |
|  | &nbsp;&nbsp;**Health Care — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 504361 |
| &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 1115996 |
|  | &nbsp;&nbsp;**Industrials — 5.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13239 | &nbsp;&nbsp;ANA Holdings, Inc. | &nbsp;&nbsp; 256123 |
| &nbsp;&nbsp;&nbsp;&nbsp;17607 | &nbsp;&nbsp;Daifuku Co. Ltd. | &nbsp;&nbsp; 564696 |
| &nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;Japan Airlines Co. Ltd.<sup>†</sup> | &nbsp;&nbsp; 1069067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7973 | &nbsp;&nbsp;Komatsu Ltd. | &nbsp;&nbsp; 278194 |
| &nbsp;&nbsp;&nbsp;&nbsp;23647 | &nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp; 608104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9828 | &nbsp;&nbsp;NIDEC CORP | &nbsp;&nbsp; 175015 |
| &nbsp;&nbsp;&nbsp;&nbsp;18671 | &nbsp;&nbsp;Toyota Tsusho Corp. | &nbsp;&nbsp; 517892 |
|  | &nbsp;&nbsp;**Real Estate — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12690 | &nbsp;&nbsp;Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 278453 |
|  | &nbsp;&nbsp;Total Japan | &nbsp;&nbsp;10114770 |
|  | &nbsp;&nbsp;**China — 10.9%** |  |
|  | &nbsp;&nbsp;**Communication Services — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;20100 | &nbsp;&nbsp;NetEase, Inc. | &nbsp;&nbsp; 611631 |
| &nbsp;&nbsp;&nbsp;&nbsp;18677 | &nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp; 1591227 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;183846 | &nbsp;&nbsp;Geely Automobile Holdings Ltd. | &nbsp;&nbsp; 461862 |
| &nbsp;&nbsp;&nbsp;&nbsp;83270 | &nbsp;&nbsp;Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp; 246109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227 | &nbsp;&nbsp;Trip.com Group Ltd. | &nbsp;&nbsp; 323736 |
|  | &nbsp;&nbsp;**Financials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;75857 | &nbsp;&nbsp;BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 356185 |
| &nbsp;&nbsp;&nbsp;&nbsp;126860 | &nbsp;&nbsp;China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp; 248114 |
| &nbsp;&nbsp;&nbsp;&nbsp;35020 | &nbsp;&nbsp;Ping An Insurance Group Co. of China Ltd. Class H | &nbsp;&nbsp; 238733 |
|  | &nbsp;&nbsp;**Health Care — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;46871 | &nbsp;&nbsp;Innovent Biologics, Inc., 144a\* | &nbsp;&nbsp; 580621 |
| &nbsp;&nbsp;&nbsp;&nbsp;24100 | &nbsp;&nbsp;WuXi AppTec Co. Ltd. Class H, 144a | &nbsp;&nbsp; 367603 |
|  | &nbsp;&nbsp;**Industrials — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;197954 | &nbsp;&nbsp;COSCO SHIPPING Holdings Co. Ltd. Class H | &nbsp;&nbsp; 308049 |
| &nbsp;&nbsp;&nbsp;&nbsp;104087 | &nbsp;&nbsp;Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 307100 |
| &nbsp;&nbsp;&nbsp;&nbsp;111088 | &nbsp;&nbsp;Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 290218 |
| &nbsp;&nbsp;&nbsp;&nbsp;15350 | &nbsp;&nbsp;ZTO Express Cayman, Inc. | &nbsp;&nbsp; 290946 |
|  | &nbsp;&nbsp;**Information Technology — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;73927 | &nbsp;&nbsp;AAC Technologies Holdings, Inc. | &nbsp;&nbsp; 434521 |
| &nbsp;&nbsp;&nbsp;&nbsp;411407 | &nbsp;&nbsp;Lenovo Group Ltd. | &nbsp;&nbsp; 610612 |
|  | &nbsp;&nbsp;Total China | &nbsp;&nbsp; 7267267 |
|  | &nbsp;&nbsp;**Canada — 10.7%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10792 | &nbsp;&nbsp;Loblaw Cos Ltd. | &nbsp;&nbsp; 417427 |
|  | &nbsp;&nbsp;**Financials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763 | &nbsp;&nbsp;iA Financial Corp., Inc. | &nbsp;&nbsp; 655227 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Canada — (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621 | &nbsp;&nbsp;Stantec, Inc. | $282666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1396 | &nbsp;&nbsp;WSP Global, Inc. | &nbsp;&nbsp; 274345 |
|  | &nbsp;&nbsp;**Information Technology — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593 | &nbsp;&nbsp;Celestica, Inc.\* | &nbsp;&nbsp; 638086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp; 323044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5068 | &nbsp;&nbsp;Shopify, Inc. - Class A\* | &nbsp;&nbsp; 752935 |
|  | &nbsp;&nbsp;**Materials — 5.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2778 | &nbsp;&nbsp;Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 467890 |
| &nbsp;&nbsp;&nbsp;&nbsp;41940 | &nbsp;&nbsp;Barrick Mining Corp. | &nbsp;&nbsp; 1377508 |
| &nbsp;&nbsp;&nbsp;&nbsp;46525 | &nbsp;&nbsp;Kinross Gold Corp. | &nbsp;&nbsp; 1154684 |
| &nbsp;&nbsp;&nbsp;&nbsp;20496 | &nbsp;&nbsp;Pan American Silver Corp. | &nbsp;&nbsp; 794244 |
|  | &nbsp;&nbsp;Total Canada | &nbsp;&nbsp; 7138056 |
|  | &nbsp;&nbsp;**Italy — 6.9%** |  |
|  | &nbsp;&nbsp;**Financials — 6.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;81890 | &nbsp;&nbsp;Banco BPM SpA | &nbsp;&nbsp; 1223419 |
| &nbsp;&nbsp;&nbsp;&nbsp;15920 | &nbsp;&nbsp;FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 344006 |
| &nbsp;&nbsp;&nbsp;&nbsp;245454 | &nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp; 1617816 |
| &nbsp;&nbsp;&nbsp;&nbsp;15359 | &nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp; 1162538 |
|  | &nbsp;&nbsp;**Health Care — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 267073 |
|  | &nbsp;&nbsp;Total Italy | &nbsp;&nbsp; 4614852 |
|  | &nbsp;&nbsp;**Taiwan — 5.6%** |  |
|  | &nbsp;&nbsp;**Information Technology — 5.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;Accton Technology Corp. | &nbsp;&nbsp; 377157 |
| &nbsp;&nbsp;&nbsp;&nbsp;370609 | &nbsp;&nbsp;Compal Electronics, Inc. | &nbsp;&nbsp; 393980 |
| &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;Delta Electronics, Inc. | &nbsp;&nbsp; 980707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916 | &nbsp;&nbsp;Largan Precision Co. Ltd. | &nbsp;&nbsp; 224838 |
| &nbsp;&nbsp;&nbsp;&nbsp;40852 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 1749192 |
|  | &nbsp;&nbsp;Total Taiwan | &nbsp;&nbsp; 3725874 |
|  | &nbsp;&nbsp;**South Korea — 4.6%** |  |
|  | &nbsp;&nbsp;**Communication Services — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp;Krafton, Inc.\* | &nbsp;&nbsp; 266847 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6745 | &nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp; 484104 |
|  | &nbsp;&nbsp;**Financials — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;37140 | &nbsp;&nbsp;NH Investment & Securities Co. Ltd. | &nbsp;&nbsp; 514065 |
|  | &nbsp;&nbsp;**Industrials — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;HD Hyundai Heavy Industries Co. Ltd. | &nbsp;&nbsp; 383575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366 | &nbsp;&nbsp;HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | &nbsp;&nbsp; 693080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715 | &nbsp;&nbsp;Hyundai Rotem Co. Ltd. | &nbsp;&nbsp; 267692 |
|  | &nbsp;&nbsp;**Information Technology — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp; 477764 |
|  | &nbsp;&nbsp;Total South Korea | &nbsp;&nbsp; 3087127 |
|  | &nbsp;&nbsp;**United Kingdom — 4.5%** |  |
|  | &nbsp;&nbsp;**Communication Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;282013 | &nbsp;&nbsp;Vodafone Group PLC | &nbsp;&nbsp; 326787 |
|  | &nbsp;&nbsp;**Consumer Staples — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12218 | &nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp; 518922 |
|  | &nbsp;&nbsp;**Financials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;24812 | &nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp; 348713 |
| &nbsp;&nbsp;&nbsp;&nbsp;42881 | &nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp; 300810 |
|  | &nbsp;&nbsp;**Health Care — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855 | &nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp; 278967 |

---

------

Touchstone Dynamic International ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**United Kingdom — (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;74374 | &nbsp;&nbsp;Rolls-Royce Holdings PLC | $1190305 |
|  | &nbsp;&nbsp;Total United Kingdom | &nbsp;&nbsp; 2964504 |
|  | &nbsp;&nbsp;**Switzerland — 4.0%** |  |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5062 | &nbsp;&nbsp;Swiss Re AG | &nbsp;&nbsp; 935076 |
|  | &nbsp;&nbsp;**Health Care — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10708 | &nbsp;&nbsp;Novartis AG | &nbsp;&nbsp; 1346756 |
|  | &nbsp;&nbsp;**Industrials — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;Schindler Holding AG | &nbsp;&nbsp; 353017 |
|  | &nbsp;&nbsp;Total Switzerland | &nbsp;&nbsp; 2634849 |
|  | &nbsp;&nbsp;**Spain — 3.9%** |  |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;50261 | &nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 964206 |
| &nbsp;&nbsp;&nbsp;&nbsp;80434 | &nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp; 838003 |
|  | &nbsp;&nbsp;**Health Care — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;32737 | &nbsp;&nbsp;Grifols SA | &nbsp;&nbsp; 473710 |
|  | &nbsp;&nbsp;**Industrials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12564 | &nbsp;&nbsp;Aena SME SA, 144a | &nbsp;&nbsp; 343250 |
|  | &nbsp;&nbsp;Total Spain | &nbsp;&nbsp; 2619169 |
|  | &nbsp;&nbsp;**Germany — 3.9%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;29661 | &nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp; 1010230 |
|  | &nbsp;&nbsp;**Financials — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;21254 | &nbsp;&nbsp;Commerzbank AG | &nbsp;&nbsp; 800750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001 | &nbsp;&nbsp;Hannover Rueck SE | &nbsp;&nbsp; 301562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp;Talanx AG | &nbsp;&nbsp; 223941 |
|  | &nbsp;&nbsp;**Real Estate — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3426 | &nbsp;&nbsp;LEG Immobilien SE | &nbsp;&nbsp; 272309 |
|  | &nbsp;&nbsp;Total Germany | &nbsp;&nbsp; 2608792 |
|  | &nbsp;&nbsp;**Singapore — 3.6%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6791 | &nbsp;&nbsp;Sea Ltd. ADR\* | &nbsp;&nbsp; 1213756 |
|  | &nbsp;&nbsp;**Financials — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;58022 | &nbsp;&nbsp;Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 739472 |
| &nbsp;&nbsp;&nbsp;&nbsp;32781 | &nbsp;&nbsp;Singapore Exchange Ltd. | &nbsp;&nbsp; 420070 |
|  | &nbsp;&nbsp;Total Singapore | &nbsp;&nbsp; 2373298 |
|  | &nbsp;&nbsp;**Denmark — 3.0%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993 | &nbsp;&nbsp;Genmab A/S\* | &nbsp;&nbsp; 907355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4846 | &nbsp;&nbsp;Novo Nordisk A/S - Class B | &nbsp;&nbsp; 262686 |
|  | &nbsp;&nbsp;**Industrials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp;AP Moller - Maersk A/S - Class A | &nbsp;&nbsp; 482886 |
| &nbsp;&nbsp;&nbsp;&nbsp;17059 | &nbsp;&nbsp;Vestas Wind Systems A/S | &nbsp;&nbsp; 321430 |
|  | &nbsp;&nbsp;Total Denmark | &nbsp;&nbsp; 1974357 |
|  | &nbsp;&nbsp;**India — 2.8%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129 | &nbsp;&nbsp;Bajaj Auto Ltd. | &nbsp;&nbsp; 208095 |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;227626 | &nbsp;&nbsp;Canara Bank | &nbsp;&nbsp; 317153 |
| &nbsp;&nbsp;&nbsp;&nbsp;19693 | &nbsp;&nbsp;ICICI Bank Ltd. | &nbsp;&nbsp; 298981 |
| &nbsp;&nbsp;&nbsp;&nbsp;179890 | &nbsp;&nbsp;Union Bank of India Ltd. | &nbsp;&nbsp; 280627 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**India — (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7896 | &nbsp;&nbsp;InterGlobe Aviation Ltd., 144a | $497520 |
|  | &nbsp;&nbsp;**Information Technology — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4173 | &nbsp;&nbsp;Persistent Systems Ltd. | &nbsp;&nbsp; 226654 |
|  | &nbsp;&nbsp;Total India | &nbsp;&nbsp; 1829030 |
|  | &nbsp;&nbsp;**Norway — 2.5%** |  |
|  | &nbsp;&nbsp;**Communication Services — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;30014 | &nbsp;&nbsp;Telenor ASA | &nbsp;&nbsp; 497449 |
|  | &nbsp;&nbsp;**Industrials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;25555 | &nbsp;&nbsp;Kongsberg Gruppen ASA | &nbsp;&nbsp; 816747 |
|  | &nbsp;&nbsp;**Materials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;48594 | &nbsp;&nbsp;Norsk Hydro ASA | &nbsp;&nbsp; 329168 |
|  | &nbsp;&nbsp;Total Norway | &nbsp;&nbsp; 1643364 |
|  | &nbsp;&nbsp;**France — 2.4%** |  |
|  | &nbsp;&nbsp;**Communication Services — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495 | &nbsp;&nbsp;Publicis Groupe SA | &nbsp;&nbsp; 239261 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;Hermes International SCA | &nbsp;&nbsp; 154069 |
|  | &nbsp;&nbsp;**Health Care — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4781 | &nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp; 440912 |
|  | &nbsp;&nbsp;**Industrials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11629 | &nbsp;&nbsp;Bouygues SA | &nbsp;&nbsp; 523184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp; 261716 |
|  | &nbsp;&nbsp;Total France | &nbsp;&nbsp; 1619142 |
|  | &nbsp;&nbsp;**Brazil — 2.4%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;257199 | &nbsp;&nbsp;TIM SA | &nbsp;&nbsp; 1134676 |
|  | &nbsp;&nbsp;**Materials — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4316 | &nbsp;&nbsp;Wheaton Precious Metals Corp. | &nbsp;&nbsp; 482988 |
|  | &nbsp;&nbsp;Total Brazil | &nbsp;&nbsp; 1617664 |
|  | &nbsp;&nbsp;**Finland — 2.4%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12449 | &nbsp;&nbsp;Orion Oyj - Class B | &nbsp;&nbsp; 952216 |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;21768 | &nbsp;&nbsp;Wartsila Oyj Abp | &nbsp;&nbsp; 650419 |
|  | &nbsp;&nbsp;Total Finland | &nbsp;&nbsp; 1602635 |
|  | &nbsp;&nbsp;**Hong Kong — 1.4%** |  |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;99610 | &nbsp;&nbsp;AIA Group Ltd. | &nbsp;&nbsp; 955530 |
|  | &nbsp;&nbsp;**Mexico — 1.4%** |  |
|  | &nbsp;&nbsp;**Materials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7652 | &nbsp;&nbsp;Southern Copper Corp. | &nbsp;&nbsp; 928647 |
|  | &nbsp;&nbsp;**Sweden — 1.3%** |  |
|  | &nbsp;&nbsp;**Industrials — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;18918 | &nbsp;&nbsp;Skanska AB - Class B | &nbsp;&nbsp; 490111 |
|  | &nbsp;&nbsp;**Information Technology — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;47371 | &nbsp;&nbsp;Telefonaktiebolaget LM Ericsson - Class B | &nbsp;&nbsp; 391672 |
|  | &nbsp;&nbsp;Total Sweden | &nbsp;&nbsp; 881783 |
|  | &nbsp;&nbsp;**Australia — 1.3%** |  |
|  | &nbsp;&nbsp;**Industrials — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;71260 | &nbsp;&nbsp;Qantas Airways Ltd. | &nbsp;&nbsp; 514908 |

---

------

Touchstone Dynamic International ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Australia — (Continued)** |  |
|  | &nbsp;&nbsp;**Materials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;22555 | &nbsp;&nbsp;Northern Star Resources Ltd. | $354162 |
|  | &nbsp;&nbsp;Total Australia | &nbsp;&nbsp; 869070 |
|  | &nbsp;&nbsp;**Peru — 0.9%** |  |
|  | &nbsp;&nbsp;**Financials — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156 | &nbsp;&nbsp;Credicorp Ltd. | &nbsp;&nbsp; 574100 |
|  | &nbsp;&nbsp;**Israel — 0.6%** |  |
|  | &nbsp;&nbsp;**Financials — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;Israel Discount Bank Ltd. - Class A | &nbsp;&nbsp; 421087 |
|  | &nbsp;&nbsp;**Chile — 0.6%** |  |
|  | &nbsp;&nbsp;**Materials — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;Lundin Mining Corp. | &nbsp;&nbsp; 410218 |
|  | &nbsp;&nbsp;**Portugal — 0.5%** |  |
|  | &nbsp;&nbsp;**Energy — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;16565 | &nbsp;&nbsp;Galp Energia SGPS SA | &nbsp;&nbsp; 313115 |
|  | &nbsp;&nbsp;**Netherlands — 0.5%** |  |
|  | &nbsp;&nbsp;**Health Care — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;Argenx SE\* | &nbsp;&nbsp; 304342 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $65092642 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.2%** |  |
| 1477576 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 1477576 |
|  | &nbsp;&nbsp;**Total Investment Securities — 100.0%<br> (Cost $51,988,923)** | $66570218 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.0)%** | &nbsp;&nbsp;&nbsp; (8424) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $66561794 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *All or a portion of the security represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $201,247.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $1,788,994 or 2.7% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Japan* | *$10114770* | *$—* | *$—* | *$10114770* |
| &nbsp;&nbsp;&nbsp;*China* | &nbsp;&nbsp;&nbsp;&nbsp;*7267267* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*7267267* |
| &nbsp;&nbsp;&nbsp;*Canada* | &nbsp;&nbsp;&nbsp;&nbsp;*7138056* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*7138056* |
| &nbsp;&nbsp;&nbsp;*Italy* | &nbsp;&nbsp;&nbsp;&nbsp;*4614852* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*4614852* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;*3725874* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3725874* |
| &nbsp;&nbsp;&nbsp;*South Korea* | &nbsp;&nbsp;&nbsp;&nbsp;*3087127* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3087127* |
| &nbsp;&nbsp;&nbsp;*United Kingdom* | &nbsp;&nbsp;&nbsp;&nbsp;*2964504* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2964504* |
| &nbsp;&nbsp;&nbsp;*Switzerland* | &nbsp;&nbsp;&nbsp;&nbsp;*2634849* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2634849* |
| &nbsp;&nbsp;&nbsp;*Spain* | &nbsp;&nbsp;&nbsp;&nbsp;*2619169* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2619169* |
| &nbsp;&nbsp;&nbsp;*Germany* | &nbsp;&nbsp;&nbsp;&nbsp;*2608792* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2608792* |
| &nbsp;&nbsp;&nbsp;*Singapore* | &nbsp;&nbsp;&nbsp;&nbsp;*2373298* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2373298* |
| &nbsp;&nbsp;&nbsp;*Denmark* | &nbsp;&nbsp;&nbsp;&nbsp;*1974357* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1974357* |
| &nbsp;&nbsp;&nbsp;*India* | &nbsp;&nbsp;&nbsp;&nbsp;*1829030* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1829030* |
| &nbsp;&nbsp;&nbsp;*Norway* | &nbsp;&nbsp;&nbsp;&nbsp;*1643364* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1643364* |
| &nbsp;&nbsp;&nbsp;*France* | &nbsp;&nbsp;&nbsp;&nbsp;*1619142* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1619142* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;&nbsp;*1617664* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1617664* |
| &nbsp;&nbsp;&nbsp;*Finland* | &nbsp;&nbsp;&nbsp;&nbsp;*1602635* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1602635* |
| &nbsp;&nbsp;&nbsp;*Hong Kong* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*955530* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*955530* |
| &nbsp;&nbsp;&nbsp;*Mexico* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*928647* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*928647* |
| &nbsp;&nbsp;&nbsp;*Sweden* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*881783* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*881783* |
| &nbsp;&nbsp;&nbsp;*Australia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*869070* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*869070* |
| &nbsp;&nbsp;&nbsp;*Peru* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*574100* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*574100* |
| &nbsp;&nbsp;&nbsp;*Israel* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*421087* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*421087* |
| &nbsp;&nbsp;&nbsp;*Chile* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*410218* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*410218* |
| &nbsp;&nbsp;&nbsp;*Portugal* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*313115* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*313115* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*304342* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*304342* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*1477576* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1477576* |
| *Total* | *$66570218* | *$—* | *$—* | *$66570218* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone International Equity ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.5%** |  |
|  | &nbsp;&nbsp;**United Kingdom — 25.4%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 8.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;143509 | &nbsp;&nbsp;Compass Group PLC | $4881103 |
| &nbsp;&nbsp;&nbsp;&nbsp;27432 | &nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp; 3310804 |
|  | &nbsp;&nbsp;**Consumer Staples — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;76868 | &nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp; 1835508 |
| &nbsp;&nbsp;&nbsp;&nbsp;51440 | &nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp; 3043993 |
|  | &nbsp;&nbsp;**Financials — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;24961 | &nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp; 2858826 |
|  | &nbsp;&nbsp;**Industrials — 9.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;225909 | &nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp; 6255757 |
| &nbsp;&nbsp;&nbsp;&nbsp;83262 | &nbsp;&nbsp;RELX PLC | &nbsp;&nbsp; 3983095 |
|  | &nbsp;&nbsp;Total United Kingdom | &nbsp;&nbsp; 26169086 |
|  | &nbsp;&nbsp;**United States — 17.7%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;22777 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 3694429 |
|  | &nbsp;&nbsp;**Financials — 4.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;103447 | &nbsp;&nbsp;Burford Capital Ltd. | &nbsp;&nbsp; 1237226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9979 | &nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp; 3447246 |
|  | &nbsp;&nbsp;**Health Care — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13645 | &nbsp;&nbsp;ICON PLC\* | &nbsp;&nbsp; 2387875 |
|  | &nbsp;&nbsp;**Materials — 7.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11289 | &nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp; 3078736 |
| &nbsp;&nbsp;&nbsp;&nbsp;36556 | &nbsp;&nbsp;CRH PLC | &nbsp;&nbsp; 4383064 |
|  | &nbsp;&nbsp;Total United States | &nbsp;&nbsp; 18228576 |
|  | &nbsp;&nbsp;**Switzerland — 10.4%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12156 | &nbsp;&nbsp;Cie Financiere Richemont SA | &nbsp;&nbsp; 2314992 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;31813 | &nbsp;&nbsp;Nestle SA | &nbsp;&nbsp; 2920138 |
|  | &nbsp;&nbsp;**Health Care — 5.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;27371 | &nbsp;&nbsp;Alcon AG | &nbsp;&nbsp; 2037568 |
| &nbsp;&nbsp;&nbsp;&nbsp;10369 | &nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp; 3385344 |
|  | &nbsp;&nbsp;Total Switzerland | &nbsp;&nbsp; 10658042 |
|  | &nbsp;&nbsp;**Netherlands — 8.9%** |  |
|  | &nbsp;&nbsp;**Communication Services — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;127626 | &nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp; 3680053 |
|  | &nbsp;&nbsp;**Information Technology — 5.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3904 | &nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 3795589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7321 | &nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp; 1667212 |
|  | &nbsp;&nbsp;Total Netherlands | &nbsp;&nbsp; 9142854 |
|  | &nbsp;&nbsp;**Germany — 8.7%** |  |
|  | &nbsp;&nbsp;**Financials — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8871 | &nbsp;&nbsp;Allianz SE | &nbsp;&nbsp; 3722320 |
|  | &nbsp;&nbsp;**Information Technology — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;19496 | &nbsp;&nbsp;SAP SE | &nbsp;&nbsp; 5216467 |
|  | &nbsp;&nbsp;Total Germany | &nbsp;&nbsp; 8938787 |
|  | &nbsp;&nbsp;**France — 6.8%** |  |
|  | &nbsp;&nbsp;**Industrials — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13639 | &nbsp;&nbsp;Safran SA | &nbsp;&nbsp; 4805462 |
|  | &nbsp;&nbsp;**Materials — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10534 | &nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp; 2187306 |
|  | &nbsp;&nbsp;Total France | &nbsp;&nbsp; 6992768 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.5% (Continued)** |  |
|  | &nbsp;&nbsp;**Japan — 5.8%** |  |
|  | &nbsp;&nbsp;**Communication Services — 5.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;Nintendo Co. Ltd. | $5974541 |
|  | &nbsp;&nbsp;**Taiwan — 3.6%** |  |
|  | &nbsp;&nbsp;**Information Technology — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13334 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp; 3724053 |
|  | &nbsp;&nbsp;**Canada — 2.7%** |  |
|  | &nbsp;&nbsp;**Industrials — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;29551 | &nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp; 2786716 |
|  | &nbsp;&nbsp;**Finland — 2.5%** |  |
|  | &nbsp;&nbsp;**Industrials — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;37803 | &nbsp;&nbsp;Kone Oyj - Class B | &nbsp;&nbsp; 2574191 |
|  | &nbsp;&nbsp;**Sweden — 2.2%** |  |
|  | &nbsp;&nbsp;**Industrials — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;66577 | &nbsp;&nbsp;Assa Abloy AB - Class B | &nbsp;&nbsp; 2309658 |
|  | &nbsp;&nbsp;**Denmark — 1.8%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;21195 | &nbsp;&nbsp;Coloplast A/S - Class B | &nbsp;&nbsp; 1810128 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp; $99309400 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 3.5%** |  |
| 3580464 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 3580464 |
|  | &nbsp;&nbsp;**Total Investment Securities — 100.0%<br> (Cost $100,590,837)** | $102889864 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.0%** | &nbsp;&nbsp; 30308 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $102920172 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |

---

------

Touchstone International Equity ETF (Unaudited) (Continued)

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*United Kingdom* | *$26169086* | *$—* | *$—* | *$26169086* |
| &nbsp;&nbsp;&nbsp;*United States* | &nbsp;&nbsp;&nbsp;&nbsp;*18228576* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*18228576* |
| &nbsp;&nbsp;&nbsp;*Switzerland* | &nbsp;&nbsp;&nbsp;&nbsp;*10658042* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*10658042* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9142853* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9142853* |
| &nbsp;&nbsp;&nbsp;*Germany* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8938787* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8938787* |
| &nbsp;&nbsp;&nbsp;*France* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6992768* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6992768* |
| &nbsp;&nbsp;&nbsp;*Japan* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5974541* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5974541* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3724053* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3724053* |
| &nbsp;&nbsp;&nbsp;*Canada* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2786716* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2786716* |
| &nbsp;&nbsp;&nbsp;*Finland* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2574192* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2574192* |
| &nbsp;&nbsp;&nbsp;*Sweden* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2309658* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2309658* |
| &nbsp;&nbsp;&nbsp;*Denmark* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1810128* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1810128* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3580464* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3580464* |
| *Total* | *$102889864* | *$—* | *$—* | *$102889864* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Sands Capital Emerging Markets ex-China Growth ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 95.1%** |  |
|  | &nbsp;&nbsp;**India — 24.6%** |  |
|  | &nbsp;&nbsp;**Communication Services — 2.7%** |  |
| 11257 | &nbsp;&nbsp;Bharti Airtel Ltd. | $238151 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.3%** |  |
| 54376 | &nbsp;&nbsp;Eternal Ltd.\* | &nbsp;&nbsp; 199343 |
| &nbsp;&nbsp;&nbsp;&nbsp;4538 | &nbsp;&nbsp;Titan Co. Ltd. | &nbsp;&nbsp; 172087 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;Britannia Industries Ltd. | &nbsp;&nbsp; 188930 |
|  | &nbsp;&nbsp;**Financials — 11.7%** |  |
| 41250 | &nbsp;&nbsp;Bajaj Finance Ltd. | &nbsp;&nbsp; 464075 |
| 35042 | &nbsp;&nbsp;HDFC Bank Ltd. | &nbsp;&nbsp; 375329 |
| 19883 | &nbsp;&nbsp;HDFC Life Insurance Co. Ltd., 144a | &nbsp;&nbsp; 169396 |
|  | &nbsp;&nbsp;**Health Care — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2217 | &nbsp;&nbsp;Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 184998 |
|  | &nbsp;&nbsp;**Real Estate — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7680 | &nbsp;&nbsp;Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 134547 |
|  | &nbsp;&nbsp;Total India | &nbsp;&nbsp;2126856 |
|  | &nbsp;&nbsp;**Taiwan — 18.7%** |  |
|  | &nbsp;&nbsp;**Information Technology — 18.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;ASPEED Technology, Inc. | &nbsp;&nbsp; 33139 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;MediaTek, Inc. | &nbsp;&nbsp; 129437 |
| &nbsp;&nbsp;&nbsp;&nbsp;5206 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;1453984 |
|  | &nbsp;&nbsp;Total Taiwan | &nbsp;&nbsp;1616560 |
|  | &nbsp;&nbsp;**Brazil — 14.1%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;MercadoLibre, Inc.\* | &nbsp;&nbsp; 469725 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.4%** |  |
| 34600 | &nbsp;&nbsp;Raia Drogasil SA | &nbsp;&nbsp; 119359 |
|  | &nbsp;&nbsp;**Financials — 4.7%** |  |
| 25524 | &nbsp;&nbsp;NU Holdings Ltd. - Class A\* | &nbsp;&nbsp; 408639 |
|  | &nbsp;&nbsp;**Industrials — 2.5%** |  |
| 14900 | &nbsp;&nbsp;Localiza Rent a Car SA | &nbsp;&nbsp; 110443 |
| 15750 | &nbsp;&nbsp;WEG SA | &nbsp;&nbsp; 107984 |
|  | &nbsp;&nbsp;Total Brazil | &nbsp;&nbsp;1216150 |
|  | &nbsp;&nbsp;**South Korea — 11.2%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 3.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9422 | &nbsp;&nbsp;Coupang, Inc.\* | &nbsp;&nbsp; 303388 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;Cosmax, Inc. | &nbsp;&nbsp; 99220 |
|  | &nbsp;&nbsp;**Information Technology — 6.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5749 | &nbsp;&nbsp;Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 343781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp; 218449 |
|  | &nbsp;&nbsp;Total South Korea | &nbsp;&nbsp; 964838 |
|  | &nbsp;&nbsp;**Singapore — 6.2%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;Sea Ltd. ADR\* | &nbsp;&nbsp; 428952 |
|  | &nbsp;&nbsp;**Industrials — 1.2%** |  |
| 17012 | &nbsp;&nbsp;Grab Holdings Ltd. - Class A\* | &nbsp;&nbsp; 102412 |
|  | &nbsp;&nbsp;Total Singapore | &nbsp;&nbsp; 531364 |
|  | &nbsp;&nbsp;**Indonesia — 3.7%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 1.0%** |  |
| 768200 | &nbsp;&nbsp;Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 88966 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 95.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Indonesia — (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| 340100 | &nbsp;&nbsp;Bank Central Asia Tbk PT | $155612 |
| 331600 | &nbsp;&nbsp;Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 77602 |
|  | &nbsp;&nbsp;Total Indonesia | &nbsp;&nbsp; 322180 |
|  | &nbsp;&nbsp;**Poland — 2.6%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.6%** |  |
| 18950 | &nbsp;&nbsp;Dino Polska SA, 144a\* | &nbsp;&nbsp; 228100 |
|  | &nbsp;&nbsp;**Kazakhstan — 2.5%** |  |
|  | &nbsp;&nbsp;**Financials — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2695 | &nbsp;&nbsp;Kaspi.KZ JSC ADR | &nbsp;&nbsp; 220128 |
|  | &nbsp;&nbsp;**Netherlands — 2.4%** |  |
|  | &nbsp;&nbsp;**Information Technology — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 208139 |
|  | &nbsp;&nbsp;**Mexico — 2.3%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.3%** |  |
| 63200 | &nbsp;&nbsp;Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 195258 |
|  | &nbsp;&nbsp;**Saudi Arabia — 2.2%** |  |
|  | &nbsp;&nbsp;**Financials — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6594 | &nbsp;&nbsp;Al Rajhi Bank | &nbsp;&nbsp; 188490 |
|  | &nbsp;&nbsp;**Philippines — 1.9%** |  |
|  | &nbsp;&nbsp;**Industrials — 1.9%** |  |
| 19800 | &nbsp;&nbsp;International Container Terminal Services, Inc. | &nbsp;&nbsp; 160441 |
|  | &nbsp;&nbsp;**South Africa — 1.0%** |  |
|  | &nbsp;&nbsp;**Financials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 90119 |
|  | &nbsp;&nbsp;**United States — 1.0%** |  |
|  | &nbsp;&nbsp;**Information Technology — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;EPAM Systems, Inc.\* | &nbsp;&nbsp; 83085 |
|  | &nbsp;&nbsp;**Argentina — 0.7%** |  |
|  | &nbsp;&nbsp;**Information Technology — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;Globant SA\* | &nbsp;&nbsp; 60765 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $8212473 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 4.0%** |  |
| 348849 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 348849 |
|  | &nbsp;&nbsp;**Total Investment Securities — 99.1%<br> (Cost $7,474,398)** | $8561322 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.9%** | &nbsp;&nbsp; 74191 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $8635513 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *JSC – Joint Stock Company* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $397,496 or 4.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

------

Touchstone Sands Capital Emerging Markets ex-China Growth ETF (Unaudited) (Continued)

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*India* | *$2126856* | *$—* | *$—* | *$2126856* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;*1616560* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*1616560* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;*1216150* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*1216150* |
| &nbsp;&nbsp;&nbsp;*South Korea* | &nbsp;&nbsp;&nbsp;&nbsp;*964838* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*964838* |
| &nbsp;&nbsp;&nbsp;*Singapore* | &nbsp;&nbsp;&nbsp;&nbsp;*531364* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*531364* |
| &nbsp;&nbsp;&nbsp;*Indonesia* | &nbsp;&nbsp;&nbsp;&nbsp;*322180* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*322180* |
| &nbsp;&nbsp;&nbsp;*Poland* | &nbsp;&nbsp;&nbsp;&nbsp;*228100* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*228100* |
| &nbsp;&nbsp;&nbsp;*Kazakhstan* | &nbsp;&nbsp;&nbsp;&nbsp;*220128* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*220128* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;*208139* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*208139* |
| &nbsp;&nbsp;&nbsp;*Mexico* | &nbsp;&nbsp;&nbsp;&nbsp;*195258* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*195258* |
| &nbsp;&nbsp;&nbsp;*Saudi Arabia* | &nbsp;&nbsp;&nbsp;&nbsp;*188490* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*188490* |
| &nbsp;&nbsp;&nbsp;*Philippines* | &nbsp;&nbsp;&nbsp;&nbsp;*160441* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*160441* |
| &nbsp;&nbsp;&nbsp;*South Africa* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*90119* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*90119* |
| &nbsp;&nbsp;&nbsp;*United States* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*83085* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*83085* |
| &nbsp;&nbsp;&nbsp;*Argentina* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*60765* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*60765* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*348849* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*348849* |
| *Total* | *$8561322* | *$—* | *$—* | *$8561322* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Sands Capital US Select Growth ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.5%** |  |
|  | &nbsp;&nbsp;**Information Technology — 49.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5710 | &nbsp;&nbsp;AppLovin Corp. - Class A\* | $4102863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6678 | &nbsp;&nbsp;Atlassian Corp. - Class A\* | &nbsp;&nbsp; 1066477 |
| &nbsp;&nbsp;&nbsp;&nbsp;11343 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 3742169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7692 | &nbsp;&nbsp;Cloudflare, Inc. - Class A\* | &nbsp;&nbsp; 1650626 |
| &nbsp;&nbsp;&nbsp;&nbsp;11041 | &nbsp;&nbsp;Datadog, Inc. - Class A\* | &nbsp;&nbsp; 1572238 |
| &nbsp;&nbsp;&nbsp;&nbsp;13528 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 7006828 |
| &nbsp;&nbsp;&nbsp;&nbsp;67906 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;12669902 |
| &nbsp;&nbsp;&nbsp;&nbsp;56899 | &nbsp;&nbsp;Samsara, Inc. - Class A\* | &nbsp;&nbsp; 2119488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579 | &nbsp;&nbsp;ServiceNow, Inc.\* | &nbsp;&nbsp; 3293682 |
| &nbsp;&nbsp;&nbsp;&nbsp;17304 | &nbsp;&nbsp;Shopify, Inc. (Canada) - Class A\* | &nbsp;&nbsp; 2571547 |
|  |  | &nbsp;&nbsp;39795820 |
|  | &nbsp;&nbsp;**Communication Services — 15.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6848 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 5029034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 2387050 |
| &nbsp;&nbsp;&nbsp;&nbsp;18150 | &nbsp;&nbsp;ROBLOX Corp. - Class A\* | &nbsp;&nbsp; 2514138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977 | &nbsp;&nbsp;Spotify Technology SA\* | &nbsp;&nbsp; 2775946 |
|  |  | &nbsp;&nbsp;12706168 |
|  | &nbsp;&nbsp;**Financials — 14.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5324 | &nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp; 1649056 |
| &nbsp;&nbsp;&nbsp;&nbsp;29930 | &nbsp;&nbsp;Block, Inc.\* | &nbsp;&nbsp; 2163041 |
| &nbsp;&nbsp;&nbsp;&nbsp;15086 | &nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp; 2541689 |
| &nbsp;&nbsp;&nbsp;&nbsp;191107 | &nbsp;&nbsp;NU Holdings Ltd. (Brazil) - Class A\* | &nbsp;&nbsp; 3059623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6397 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 2183808 |
|  |  | &nbsp;&nbsp;11597217 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 13.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;29313 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 6436256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562 | &nbsp;&nbsp;Carvana Co.\* | &nbsp;&nbsp; 1720969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9973 | &nbsp;&nbsp;DoorDash, Inc. - Class A\* | &nbsp;&nbsp; 2712556 |
|  |  | &nbsp;&nbsp;10869781 |
|  | &nbsp;&nbsp;**Health Care — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;29633 | &nbsp;&nbsp;DexCom, Inc.\* | &nbsp;&nbsp; 1994004 |
| &nbsp;&nbsp;&nbsp;&nbsp;22795 | &nbsp;&nbsp;Ultragenyx Pharmaceutical, Inc.\* | &nbsp;&nbsp; 685674 |
|  |  | &nbsp;&nbsp; 2679678 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.5% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591 | &nbsp;&nbsp;Axon Enterprise, Inc.\* | $1141765 |
|  | &nbsp;&nbsp;**Energy — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;48257 | &nbsp;&nbsp;Venture Global, Inc. - Class A<sup>†</sup> | &nbsp;&nbsp; 684767 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $79475196 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.4%** |  |
| 1912207 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 1912207 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.9%<br> (Cost $68,648,280)** | $81387403 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.9%)** | &nbsp;&nbsp;&nbsp; (757102) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $80630301 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *All or a portion of the security represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $650,640.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$79475196* | *$—* | *$—* | *$79475196* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*1912207* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1912207* |
| *Total* | *$81387403* | *$—* | *$—* | *$81387403* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Securitized Income ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 49.1%** | &nbsp;&nbsp;**Asset-Backed Securities — 49.1%** |
| $199778 | &nbsp;&nbsp;321 Henderson Receivables I LLC, Ser 2015-2A, Class A, 144a, 3.870%, 3/15/58 | $184213 |
| &nbsp;&nbsp; 1410000 | &nbsp;&nbsp;37 Capital CLO 1 Ltd. (Cayman Islands), Ser 2021-1A, Class CR, 144a, (TSFR3M + 2.050%), 6.368%, 10/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1410901 |
| &nbsp;&nbsp; 585016 | &nbsp;&nbsp;AB Issuer LLC, Ser 2021-1, Class A2, 144a, 3.734%, 7/30/51 | &nbsp;&nbsp; 553499 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;Apidos CLO XII (Cayman Islands), Ser 2013-12A, Class CRR, 144a, (TSFR3M + 1.800%), 6.118%, 4/15/31<sup>(A)</sup> | &nbsp;&nbsp; 1101937 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Bain Capital Credit CLO (Cayman Islands), Ser 2019-1A, Class CR2, 144a, (TSFR3M + 1.880%), 6.205%, 4/19/34<sup>(A)</sup> | &nbsp;&nbsp; 1501491 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;Benefit Street Partners CLO XXII Ltd. (Cayman Islands), Ser 2020-22A, Class BRR, 144a, (TSFR3M + 1.550%), 5.875%, 4/20/35<sup>(A)</sup> | &nbsp;&nbsp; 1100093 |
| &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;Benefit Street Partners CLO XXV Ltd. (Cayman Islands), Ser 2021-25A, Class CR, 144a, (TSFR3M + 1.650%), 5.968%, 1/15/35<sup>(A)</sup> | &nbsp;&nbsp; 2197426 |
| &nbsp;&nbsp; 966000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | &nbsp;&nbsp; 1051432 |
| &nbsp;&nbsp; 890000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Class E, 144a, 6.620%, 5/17/32 | &nbsp;&nbsp; 886123 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2019-1A, Class CR2, 144a, (TSFR3M + 2.600%), 6.879%, 4/20/31<sup>(A)</sup> | &nbsp;&nbsp; 800013 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;CFMT LLC, Ser 2023-HB12, Class M1, 144a, 4.250%, 4/25/33<sup>(A)(B)</sup> | &nbsp;&nbsp; 296759 |
| &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2022-4A, Class DR, 144a, (TSFR3M + 2.700%), 6.982%, 7/16/35<sup>(A)</sup> | &nbsp;&nbsp; 1808424 |
| &nbsp;&nbsp; 660600 | &nbsp;&nbsp;Coinstar Funding LLC, Ser 2017-1A, Class A2, 144a, 5.216%, 4/25/47 | &nbsp;&nbsp; 612740 |
| &nbsp;&nbsp; 857588 | &nbsp;&nbsp;DB Master Finance LLC, Ser 2021-1A, Class A23, 144a, 2.791%, 11/20/51 | &nbsp;&nbsp; 761277 |
| &nbsp;&nbsp; 2970000 | &nbsp;&nbsp;Driven Brands Funding LLC, Ser 2024-1A, Class A2, 144a, 6.372%, 10/20/54 | &nbsp;&nbsp; 3074902 |
| &nbsp;&nbsp; 1845000 | &nbsp;&nbsp;Flatiron RR CLO 22 LLC, Ser 2021-2A, Class DR, 144a, (TSFR3M + 2.400%), 6.718%, 10/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1835721 |
| &nbsp;&nbsp; 491250 | &nbsp;&nbsp;FOCUS Brands Funding, Ser 2023-2, Class A2, 144a, 8.241%, 10/30/53 | &nbsp;&nbsp; 522044 |
| &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class BRRR, 144a, (TSFR3M + 1.650%), 5.968%, 4/16/34<sup>(A)</sup> | &nbsp;&nbsp; 2251406 |
| &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class DRRR, 144a, (TSFR3M + 3.250%), 7.568%, 4/16/34<sup>(A)</sup> | &nbsp;&nbsp; 1300506 |
| &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-2A, Class E, 144a, 7.730%, 6/15/32 | &nbsp;&nbsp; 1193815 |
| &nbsp;&nbsp; 2257000 | &nbsp;&nbsp;Golub Capital Partners CLO 51M LP (Cayman Islands), Ser 2021-51A, Class BR, 144a, (TSFR3M + 1.650%), 5.971%, 5/5/36<sup>(A)</sup> | &nbsp;&nbsp; 2253653 |
| &nbsp;&nbsp; 2523125 | &nbsp;&nbsp;Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | &nbsp;&nbsp; 2520962 |
| &nbsp;&nbsp; 155106 | &nbsp;&nbsp;J.G. Wentworth XXXIX LLC, Ser 2017-2A, Class A, 144a, 3.530%, 9/15/72 | &nbsp;&nbsp; 137881 |
| &nbsp;&nbsp; 520357 | &nbsp;&nbsp;J.G. Wentworth XXXIX LLC, Ser 2017-2A, Class B, 144a, 5.090%, 9/17/74 | &nbsp;&nbsp; 471418 |
| &nbsp;&nbsp; 930000 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2II, 144a, 4.136%, 2/26/52 | &nbsp;&nbsp; 831512 |
| &nbsp;&nbsp; 325050 | &nbsp;&nbsp;Jersey Mike's Funding LLC, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50 | &nbsp;&nbsp; 324657 |
| &nbsp;&nbsp; 808963 | &nbsp;&nbsp;JG Wentworth XLII LLC, Ser 2018-2A, Class B, 144a, 4.700%, 10/15/77 | &nbsp;&nbsp; 735566 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 49.1% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 49.1% (Continued)** |
| $1284581 | &nbsp;&nbsp;Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | $1279328 |
| &nbsp;&nbsp; 356621 | &nbsp;&nbsp;LAD Auto Receivables Trust, Ser 2021-1A, Class D, 144a, 3.990%, 11/15/29 | &nbsp;&nbsp; 356110 |
| &nbsp;&nbsp; 390000 | &nbsp;&nbsp;Madison Park Funding XXXV, Ltd. (Cayman Islands), Ser 2019-35A, Class CR, 144a, (TSFR3M + 2.162%), 6.487%, 4/20/32<sup>(A)</sup> | &nbsp;&nbsp; 390295 |
| &nbsp;&nbsp; 661990 | &nbsp;&nbsp;Neighborly Issuer, Ser 2022-1A, Class A2, 144a, 3.695%, 1/30/52 | &nbsp;&nbsp; 619914 |
| &nbsp;&nbsp; 1929363 | &nbsp;&nbsp;Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | &nbsp;&nbsp; 1828151 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Octagon Investment Partners 39 Ltd. (Cayman Islands), Ser 2018-3A, Class BR, 144a, (TSFR3M + 1.800%), 6.125%, 10/20/30<sup>(A)</sup> | &nbsp;&nbsp; 1002020 |
| &nbsp;&nbsp; 750000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2024-A, Class B, 144a, 7.548%, 1/14/32 | &nbsp;&nbsp; 750560 |
| &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2025-A, Class B, 144a, 7.194%, 8/14/34 | &nbsp;&nbsp; 3092930 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class C, 144a, (TSFR3M + 2.500%), 6.788%, 7/15/33<sup>(A)</sup> | &nbsp;&nbsp; 1003058 |
| &nbsp;&nbsp; 2940300 | &nbsp;&nbsp;Planet Fitness Master Issuer LLC, Ser 2024-1A, Class A2II, 144a, 6.237%, 6/5/54 | &nbsp;&nbsp; 2998932 |
| &nbsp;&nbsp; 1725000 | &nbsp;&nbsp;Regatta VII Funding Ltd. (Cayman Islands), Ser 2016-1A, Class DR3, 144a, (TSFR3M + 2.650%), 6/20/34<sup>(A)</sup> | &nbsp;&nbsp; 1725000 |
| &nbsp;&nbsp; 115000 | &nbsp;&nbsp;SCF Equipment Leasing LLC, Ser 2022-1A, Class D, 144a, 3.790%, 11/20/31 | &nbsp;&nbsp; 114260 |
| &nbsp;&nbsp; 1069274 | &nbsp;&nbsp;ServiceMaster Funding LLC, Ser 2020-1, Class A2I, 144a, 2.841%, 1/30/51 | &nbsp;&nbsp; 1007698 |
| &nbsp;&nbsp; 567431 | &nbsp;&nbsp;ServiceMaster Funding LLC, Ser 2020-1, Class A2II, 144a, 3.337%, 1/30/51 | &nbsp;&nbsp; 502824 |
| &nbsp;&nbsp; 738262 | &nbsp;&nbsp;ServiceMaster Funding LLC, Ser 2021-1, Class A2II, 144a, 3.113%, 7/30/51 | &nbsp;&nbsp; 627018 |
| &nbsp;&nbsp; 339300 | &nbsp;&nbsp;Servpro Master Issuer LLC, Ser 2019-1A, Class A2, 144a, 3.882%, 10/25/49 | &nbsp;&nbsp; 336050 |
| &nbsp;&nbsp; 261903 | &nbsp;&nbsp;Structured Asset Securities Corp, Ser 2003-25XS, Class A5, 4.617%, 8/25/33<sup>(A)(B)</sup> | &nbsp;&nbsp; 254820 |
| &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;Thompson Park CLO Ltd. (Cayman Islands), Ser 2021-1A, Class CR, 144a, (TSFR3M + 1.900%), 6.218%, 4/15/34<sup>(A)</sup> | &nbsp;&nbsp; 2303388 |
| &nbsp;&nbsp; 550000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2019-MH1, Class B1, 144a, 3.750%, 11/25/58<sup>(A)(B)</sup> | &nbsp;&nbsp; 543964 |
| &nbsp;&nbsp; 843625 | &nbsp;&nbsp;TSC SPV Funding LLC, Ser 2024-1A, Class A2, 144a, 6.291%, 8/20/54 | &nbsp;&nbsp; 857113 |
| &nbsp;&nbsp; 980313 | &nbsp;&nbsp;Wendy's Funding LLC, Ser 2019-1A, Class A2I, 144a, 3.783%, 6/15/49 | &nbsp;&nbsp; 974549 |
| &nbsp;&nbsp; 1113600 | &nbsp;&nbsp;Zaxbys Funding LLC, Ser 2021-1A, Class A2, 144a, 3.238%, 7/30/51 | &nbsp;&nbsp; 1050497 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $55338850 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 25.5%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 25.5%** |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2017-BNK3, Class C, 4.352%, 2/15/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 972186 |
| &nbsp;&nbsp;21686669 | &nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2024-V5, Class XA, 1.298%, 1/10/57<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 683460 |
| &nbsp;&nbsp; 2395712 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2025-BCAT, Class D, 144a, (TSFR1M + 2.650%), 6.800%, 8/15/42<sup>(A)</sup> | &nbsp;&nbsp; 2400953 |
| &nbsp;&nbsp; 764000 | &nbsp;&nbsp;BX Trust, Ser 2019-OC11, Class C, 144a, 3.856%, 12/9/41 | &nbsp;&nbsp; 727279 |
| &nbsp;&nbsp; 1619120 | &nbsp;&nbsp;BX Trust, Ser 2019-OC11, Class E, 144a, 4.075%, 12/9/41<sup>(A)(B)</sup> | &nbsp;&nbsp; 1491947 |

---

------

Touchstone Securitized Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 25.5% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 25.5% (Continued)** |
| $1160000 | &nbsp;&nbsp;BX Trust, Ser 2021-ARIA, Class C, 144a, (TSFR1M + 1.760%), 5.910%, 10/15/36<sup>(A)</sup> | $1159638 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;BX Trust, Ser 2021-ARIA, Class G, 144a, (TSFR1M + 3.257%), 7.407%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 1094500 |
| &nbsp;&nbsp; 2265000 | &nbsp;&nbsp;BXHPP Trust, Ser 2021-FILM, Class A, 144a, (TSFR1M + 0.764%), 4.914%, 8/15/36<sup>(A)</sup> | &nbsp;&nbsp; 2197050 |
| &nbsp;&nbsp; 527310 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Class D, 144a, 3.548%, 10/10/47 | &nbsp;&nbsp; 288966 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class C, 4.031%, 8/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1147947 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class D, 144a, 3.250%, 8/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 280431 |
| &nbsp;&nbsp; 219000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class D, 144a, 3.000%, 9/15/50 | &nbsp;&nbsp; 134498 |
| &nbsp;&nbsp;50080875 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2018-C5, Class XA, 0.817%, 6/10/51<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 777270 |
| &nbsp;&nbsp; 275000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C5, Class C, 4.740%, 11/15/48<sup>(A)(B)</sup> | &nbsp;&nbsp; 272346 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class B, 3.924%, 1/15/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1432539 |
| &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;CSMC, Ser 2017-TIME, Class A, 144a, 3.646%, 11/13/39 | &nbsp;&nbsp; 2172692 |
| &nbsp;&nbsp; 950000 | &nbsp;&nbsp;CSMC, Ser 2017-TIME, Class B, 144a, 3.775%, 11/13/39<sup>(A)(B)</sup> | &nbsp;&nbsp; 784366 |
| &nbsp;&nbsp; 360000 | &nbsp;&nbsp;CSMC Trust, Ser 2017-CALI, Class E, 144a, 3.904%, 11/10/32<sup>(A)(B)</sup> | &nbsp;&nbsp; 56016 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Eleven Madison Trust Mortgage Trust, Ser 2015-11MD, Class B, 144a, 3.673%, 9/10/35<sup>(A)(B)</sup> | &nbsp;&nbsp; 497923 |
| &nbsp;&nbsp;42042752 | &nbsp;&nbsp;GS Mortgage Securities Corp. Trust, Ser 2018-GS9, Class XA, 0.553%, 3/10/51<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 344872 |
| &nbsp;&nbsp; 1914000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2016-GS2, Class C, 4.845%, 5/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1853483 |
| &nbsp;&nbsp; 45000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2016-GS3, Class B, 3.395%, 10/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 43466 |
| &nbsp;&nbsp;14370901 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2017-GS6, Class XA, 1.140%, 5/10/50<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 191594 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 970000 |
| &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;KSL Commercial Mortgage Trust, Ser 2024-HT2, Class C, 144a, (TSFR1M + 2.341%), 6.491%, 12/15/39<sup>(A)</sup> | &nbsp;&nbsp; 1150359 |
| &nbsp;&nbsp; 710000 | &nbsp;&nbsp;LSTAR Commercial Mortgage Trust, Ser 2016-4, Class C, 144a, 4.778%, 3/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 691370 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;LSTAR Commercial Mortgage Trust, Ser 2016-4, Class D, 144a, 4.778%, 3/10/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 266627 |
| &nbsp;&nbsp; 650000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2015-C26, Class AS, 3.885%, 10/15/48<sup>(A)(B)</sup> | &nbsp;&nbsp; 648174 |
| &nbsp;&nbsp; 5536616 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2016-UB11, Class XA, 1.564%, 8/15/49<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 35453 |
| &nbsp;&nbsp; 445104 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-BOP, Class E, 144a, (TSFR1M + 1.997%), 6.148%, 6/15/35<sup>(A)</sup> | &nbsp;&nbsp; 51272 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2019-L3, Class C, 3.754%, 11/15/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 879364 |
| &nbsp;&nbsp; 236820 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2019-NUGS, Class E, 144a, (TSFR1M + 2.358%), 6.509%, 12/15/36<sup>(A)</sup> | &nbsp;&nbsp; 4739 |
| &nbsp;&nbsp; 5040686 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2018-C12, Class XA, 1.009%, 8/15/51<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 100808 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2016-LC24, Class B, 3.621%, 10/15/49 | &nbsp;&nbsp; 949712 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 25.5% (Continued)** |
| $11259820 &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2020-C57, Class XA, 2.172%, 8/15/53<sup>(A)(B)(C)</sup> | $838514 |
| &nbsp;&nbsp; 1100000 &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2025-AURA, Class D, 144a, (TSFR1M + 2.891%), 6.991%, 10/15/42<sup>(A)</sup> | &nbsp;&nbsp; 1097250 |
|  | &nbsp;&nbsp; $28689064 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 21.9%** |
| &nbsp;&nbsp; 989264 &nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53<sup>(A)(B)</sup> | &nbsp;&nbsp; 976002 |
| &nbsp;&nbsp; 2224485 &nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-RPL4, Class A1B, 144a, 3.375%, 12/25/64<sup>(A)(B)</sup> | &nbsp;&nbsp; 1988035 |
| &nbsp;&nbsp; 1813531 &nbsp;&nbsp;Citigroup Mortgage Loan Trust, Ser 2021-J1, Class A4A, 144a, 2.500%, 4/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 1492975 |
| &nbsp;&nbsp; 1272248 &nbsp;&nbsp;COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 1267336 |
| &nbsp;&nbsp; 1141491 &nbsp;&nbsp;CSMC Trust, Ser 2014-SAF1, Class B3, 144a, 3.837%, 3/25/44<sup>(A)(B)</sup> | &nbsp;&nbsp; 1105070 |
| &nbsp;&nbsp; 350000 &nbsp;&nbsp;GS Mortgage Securities Corp. Trust, Ser 2019-SL1, Class B1, 144a, 3.751%, 1/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 331550 |
| &nbsp;&nbsp; 1382483 &nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ3, Class B2A, 144a, 3.412%, 10/25/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 1190898 |
| &nbsp;&nbsp; 1473447 &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-MM1, Class A6, 144a, 2.500%, 4/25/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 1306879 |
| &nbsp;&nbsp; 1004432 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-1, Class B1, 144a, 4.477%, 5/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 954326 |
| &nbsp;&nbsp; 2646120 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-9, Class B4, 144a, 3.793%, 5/25/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 2381010 |
| &nbsp;&nbsp; 1290960 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-1, Class B4, 144a, 3.821%, 6/25/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 1147621 |
| &nbsp;&nbsp; 1127472 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B4, 144a, 4.012%, 11/25/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 1004933 |
| &nbsp;&nbsp; 287245 &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2016-1, Class B3, 144a, 3.858%, 4/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 260500 |
| &nbsp;&nbsp; 1210000 &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-1, Class B2, 144a, 3.899%, 11/25/58<sup>(A)(B)</sup> | &nbsp;&nbsp; 1101843 |
| &nbsp;&nbsp; 294480 &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 4.168%, 7/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 267598 |
| &nbsp;&nbsp; 293747 &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2018-2, Class B2, 144a, 3.750%, 5/25/58<sup>(A)(B)</sup> | &nbsp;&nbsp; 249889 |
| &nbsp;&nbsp; 1234342 &nbsp;&nbsp;OBX Trust, Ser 2022-J1, Class B1A, 144a, 2.843%, 2/25/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 1052592 |
| &nbsp;&nbsp; 1338270 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-4, Class B3, 144a, 3.784%, 11/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1229126 |
| &nbsp;&nbsp; 1855376 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2021-1, Class A19, 144a, 2.500%, 3/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 1530810 |
| &nbsp;&nbsp; 875140 &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2015-2, Class 1B3, 144a, 3.705%, 11/25/60<sup>(A)(B)</sup> | &nbsp;&nbsp; 800606 |
| &nbsp;&nbsp; 1250000 &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-3, Class B3, 144a, 3.862%, 7/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 1089036 |
| &nbsp;&nbsp; 2273901 &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2022-2, Class B1, 144a, 2.962%, 12/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 1915435 |
|  | &nbsp;&nbsp; $24644070 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 0.8%** |
| &nbsp;&nbsp; 4764333 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K736, Class X1, 1.382%, 7/25/26<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 31711 |
| &nbsp;&nbsp;38291894 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K742, Class X1, 0.857%, 3/25/28<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 394403 |

---

------

Touchstone Securitized Income ETF (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 0.8%<br> (Continued)** |
| $8566371 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB88, Class X1, 0.798%, 5/25/41<sup>(A)(B)(C)</sup> | $244500 |
| &nbsp;&nbsp; 6912221 &nbsp;&nbsp;GNMA, Ser 2016-70, Class IO, 0.758%, 4/16/58<sup>(A)(B)(C)</sup> | &nbsp;&nbsp; 275092 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; $945706 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 297035 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 4.3%** |  |
| 4879622 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 4879622 |
|  | &nbsp;&nbsp;**Total Investment Securities—101.9%<br> (Cost $113,032,616)** | $114794347 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (1.9%)** | &nbsp;&nbsp;&nbsp; (2119841) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $112674506 |

---

*(A)* *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* 

*(B)* *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* 

*(C)* *Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.* 

*∞* *Open-End Fund.* 

*Ω* *Represents the 7-Day SEC yield as of September 30, 2025.* 

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FRESB – Freddie Mac Multifamily Securitization Small Balance Loan* |
| *GNMA – Government National Mortgage Association* |
| *IO – Interest Only* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $96,275,976 or 85.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$55338850* | *$—* | *$55338850* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*28689064* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*28689064* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*24644070* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*24644070* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*945706* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*945706* |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*297035* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*297035* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;*4879622* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4879622* |
| *Total* | *$4879622* | *$109914725* | *$—* | *$114794347* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Strategic Income ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 46.3%** |  |
|  | &nbsp;&nbsp;**Energy — 9.6%** |  |
| $310000 | &nbsp;&nbsp;3R Lux Sarl (Brazil), 144a, 9.750%, 2/5/31 | $326802 |
| &nbsp;&nbsp; 1022000 | &nbsp;&nbsp;Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | &nbsp;&nbsp; 1006338 |
| &nbsp;&nbsp; 1814000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 1652761 |
| &nbsp;&nbsp; 588000 | &nbsp;&nbsp;Ecopetrol SA (Colombia), 7.750%, 2/1/32 | &nbsp;&nbsp; 608559 |
| &nbsp;&nbsp; 990000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser 20-A, 5.750%, 7/15/80 | &nbsp;&nbsp; 999509 |
| &nbsp;&nbsp; 572000 | &nbsp;&nbsp;Energy Transfer LP, (TSFR3M + 3.279%), 7.575%, 11/1/66<sup>(A)</sup> | &nbsp;&nbsp; 570127 |
| &nbsp;&nbsp; 1242000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 1244670 |
| &nbsp;&nbsp; 843000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 2/1/31 | &nbsp;&nbsp; 811833 |
| &nbsp;&nbsp; 583814 | &nbsp;&nbsp;MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | &nbsp;&nbsp; 499902 |
| &nbsp;&nbsp; 1460000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 1466731 |
| &nbsp;&nbsp; 655000 | &nbsp;&nbsp;MSU Energy SA (Argentina), 144a, 9.750%, 12/5/30 | &nbsp;&nbsp; 589500 |
| &nbsp;&nbsp; 1281000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 1478605 |
| &nbsp;&nbsp; 494000 | &nbsp;&nbsp;OHI Group SA (Brazil), 144a, 13.000%, 7/22/29 | &nbsp;&nbsp; 523023 |
| &nbsp;&nbsp; 1334000 | &nbsp;&nbsp;Ovintiv, Inc., 7.200%, 11/1/31 | &nbsp;&nbsp; 1471198 |
| &nbsp;&nbsp; 817000 | &nbsp;&nbsp;Parkland Corp. (Canada), 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 795997 |
| &nbsp;&nbsp; 770000 | &nbsp;&nbsp;Petroleos Mexicanos (Mexico), 6.625%, 6/15/35 | &nbsp;&nbsp; 734174 |
| &nbsp;&nbsp; 565000 | &nbsp;&nbsp;Plains All American Pipeline LP, Ser B, (TSFR3M + 4.372%), 8.583%<sup>(A)(B)</sup> | &nbsp;&nbsp; 565914 |
| &nbsp;&nbsp; 575000 | &nbsp;&nbsp;Pluspetrol SA (Argentina), 144a, 8.500%, 5/30/32 | &nbsp;&nbsp; 575230 |
| &nbsp;&nbsp; 385000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 387080 |
| &nbsp;&nbsp; 1620000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | &nbsp;&nbsp; 1436913 |
| &nbsp;&nbsp; 786000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 786398 |
| &nbsp;&nbsp; 147000 | &nbsp;&nbsp;Sunoco LP, 144a, 7.875%<sup>(B)</sup> | &nbsp;&nbsp; 149603 |
| &nbsp;&nbsp; 579000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 6.750%, 3/15/34 | &nbsp;&nbsp; 573722 |
| &nbsp;&nbsp; 635000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 657878 |
| &nbsp;&nbsp; 434000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 7.000%, 1/15/30<sup>†</sup> | &nbsp;&nbsp; 448554 |
|  |  | &nbsp;&nbsp; 20361021 |
|  | &nbsp;&nbsp;**Financials — 9.2%** |  |
| &nbsp;&nbsp; 633000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.411%, 8/15/53<sup>(A)</sup> | &nbsp;&nbsp; 632948 |
| &nbsp;&nbsp; 1415000 | &nbsp;&nbsp;Ares Capital Corp., 5.875%, 3/1/29 | &nbsp;&nbsp; 1455981 |
| &nbsp;&nbsp; 1393000 | &nbsp;&nbsp;Bank of Nova Scotia (The) (Canada), Ser 2, 3.625%, 10/27/81 | &nbsp;&nbsp; 1326865 |
| &nbsp;&nbsp; 1513000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 2.894%, 11/24/32 | &nbsp;&nbsp; 1364114 |
| &nbsp;&nbsp; 469000 | &nbsp;&nbsp;Charles Schwab Corp. (The), Ser H, 4.000%<sup>(B)</sup> | &nbsp;&nbsp; 440199 |
| &nbsp;&nbsp; 1314000 | &nbsp;&nbsp;Citigroup, Inc., 4.075%, 4/23/29 | &nbsp;&nbsp; 1310814 |
| &nbsp;&nbsp; 556000 | &nbsp;&nbsp;Citigroup, Inc., Ser W, 4.000%<sup>(B)</sup> | &nbsp;&nbsp; 553870 |
| &nbsp;&nbsp; 960000 | &nbsp;&nbsp;Citizens Financial Group, Inc., 5.841%, 1/23/30 | &nbsp;&nbsp; 1000678 |
| &nbsp;&nbsp; 455000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 478042 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 91235 |
| &nbsp;&nbsp; 533000 | &nbsp;&nbsp;Encore Capital Group, Inc., 144a, 8.500%, 5/15/30 | &nbsp;&nbsp; 566007 |
| &nbsp;&nbsp; 665000 | &nbsp;&nbsp;First Maryland Capital II, (TSFR3M + 1.112%), 5.408%, 2/1/27<sup>(A)</sup> | &nbsp;&nbsp; 656784 |
| &nbsp;&nbsp; 602000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 635296 |
| &nbsp;&nbsp; 1607000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.330%, 7/23/35 | &nbsp;&nbsp; 1655559 |
| &nbsp;&nbsp; 1194000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 1194000 |
| &nbsp;&nbsp; 556000 | &nbsp;&nbsp;Jefferies Finance LLC / JFIN Co-Issuer Corp., 144a, 6.625%, 10/15/31 | &nbsp;&nbsp; 559239 |
| &nbsp;&nbsp; 1145000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 995116 |
| &nbsp;&nbsp; 657000 | &nbsp;&nbsp;Nationstar Mortgage Holdings, Inc., 144a, 6.500%, 8/1/29 | &nbsp;&nbsp; 674259 |
| &nbsp;&nbsp; 1302000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 5.003%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 1285850 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 46.3% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 9.2% (Continued)** |  |
| $1407000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 5.299%, 6/15/47<sup>(A)†</sup> | $1273188 |
| &nbsp;&nbsp; 1443000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 5.143%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 1432235 |
|  |  | &nbsp;&nbsp; 19582279 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 6.8%** |  |
| &nbsp;&nbsp; 53000 | &nbsp;&nbsp;ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 53000 |
| &nbsp;&nbsp; 282000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 7.250%, 10/15/29<sup>†</sup> | &nbsp;&nbsp; 286859 |
| &nbsp;&nbsp; 583000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 573809 |
| &nbsp;&nbsp; 53000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.125%, 5/1/29 | &nbsp;&nbsp; 53000 |
| &nbsp;&nbsp; 850000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 805215 |
| &nbsp;&nbsp; 740000 | &nbsp;&nbsp;Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | &nbsp;&nbsp; 739019 |
| &nbsp;&nbsp; 1379000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 1386811 |
| &nbsp;&nbsp; 784000 | &nbsp;&nbsp;Ford Motor Credit Co. LLC, 6.050%, 3/5/31 | &nbsp;&nbsp; 802364 |
| &nbsp;&nbsp; 1821000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 1640583 |
| &nbsp;&nbsp; 308000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 307609 |
| &nbsp;&nbsp; 1146000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 1146187 |
| &nbsp;&nbsp; 598000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | &nbsp;&nbsp; 581291 |
| &nbsp;&nbsp; 1268000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | &nbsp;&nbsp; 1167347 |
| &nbsp;&nbsp; 1662000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 1618386 |
| &nbsp;&nbsp; 851000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28<sup>†</sup> | &nbsp;&nbsp; 780101 |
| &nbsp;&nbsp; 622000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 614650 |
| &nbsp;&nbsp; 1424000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 1402373 |
| &nbsp;&nbsp; 612000 | &nbsp;&nbsp;Wynn Macau Ltd. (Macao), 144a, 5.625%, 8/26/28 | &nbsp;&nbsp; 611419 |
|  |  | &nbsp;&nbsp; 14570023 |
|  | &nbsp;&nbsp;**Industrials — 5.5%** |  |
| &nbsp;&nbsp; 1172000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 5.100%, 3/17/30 | &nbsp;&nbsp; 1198805 |
| &nbsp;&nbsp; 812000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 784714 |
| &nbsp;&nbsp; 1195000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 1219294 |
| &nbsp;&nbsp; 605000 | &nbsp;&nbsp;Limak Cimento Sanayi ve Ticaret AS (Turkey), 9.750%, 7/25/29 | &nbsp;&nbsp; 621301 |
| &nbsp;&nbsp; 614000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 645510 |
| &nbsp;&nbsp; 1602000 | &nbsp;&nbsp;Molex Electronic Technologies LLC, 144a, 5.250%, 4/30/32 | &nbsp;&nbsp; 1630689 |
| &nbsp;&nbsp; 645000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 657078 |
| &nbsp;&nbsp; 523000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | &nbsp;&nbsp; 524737 |
| &nbsp;&nbsp; 391000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 411674 |
| &nbsp;&nbsp; 1548000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 6.208%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 1398773 |
| &nbsp;&nbsp; 1238000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 1245452 |
| &nbsp;&nbsp; 662000 | &nbsp;&nbsp;TK Elevator US Newco, Inc. (Germany), 144a, 5.250%, 7/15/27 | &nbsp;&nbsp; 659704 |
| &nbsp;&nbsp; 672000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.375%, 3/1/29 | &nbsp;&nbsp; 687011 |
|  |  | &nbsp;&nbsp; 11684742 |
|  | &nbsp;&nbsp;**Utilities — 3.5%** |  |
| &nbsp;&nbsp; 1644000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 1639150 |
| &nbsp;&nbsp; 1356000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 1322248 |
| &nbsp;&nbsp; 1091000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 1071117 |
| &nbsp;&nbsp; 585000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | &nbsp;&nbsp; 596791 |
| &nbsp;&nbsp; 891000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 4.875%, 9/21/38 | &nbsp;&nbsp; 839343 |
| &nbsp;&nbsp; 450000 | &nbsp;&nbsp;Eskom Holdings (South Africa), 144a, 8.450%, 8/10/28 | &nbsp;&nbsp; 480806 |
| &nbsp;&nbsp; 1129000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.250%, 4/20/46 | &nbsp;&nbsp; 1126079 |
| &nbsp;&nbsp; 412929 | &nbsp;&nbsp;Sorik Marapi Geothermal Power PT (Indonesia), 144a, 7.750%, 8/5/31 | &nbsp;&nbsp; 422220 |
|  |  | &nbsp;&nbsp; 7497754 |

---

------

Touchstone Strategic Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 46.3% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.8%** |  |
| $670000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | $695018 |
| &nbsp;&nbsp; 173000 | &nbsp;&nbsp;Coruripe Netherlands BV (Brazil), 10.000%, 2/10/27 | &nbsp;&nbsp; 171486 |
| &nbsp;&nbsp; 579000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | &nbsp;&nbsp; 601345 |
| &nbsp;&nbsp; 1584000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.000%, 3/1/32 | &nbsp;&nbsp; 1620986 |
| &nbsp;&nbsp; 1584000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 1653554 |
| &nbsp;&nbsp; 602000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 577020 |
| &nbsp;&nbsp; 695000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 735234 |
|  |  | &nbsp;&nbsp; 6054643 |
|  | &nbsp;&nbsp;**Real Estate — 2.7%** |  |
| &nbsp;&nbsp; 930000 | &nbsp;&nbsp;RHP Hotel Properties LP / RHP Finance Corp. REIT, 144a, 4.500%, 2/15/29 | &nbsp;&nbsp; 911983 |
| &nbsp;&nbsp; 1683000 | &nbsp;&nbsp;Sabra Health Care LP REIT, 3.900%, 10/15/29 | &nbsp;&nbsp; 1630895 |
| &nbsp;&nbsp; 451000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.700%, 12/1/31 | &nbsp;&nbsp; 394921 |
| &nbsp;&nbsp; 760000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.750%, 11/18/30 | &nbsp;&nbsp; 691068 |
| &nbsp;&nbsp; 424000 | &nbsp;&nbsp;Store Capital LLC REIT, 4.625%, 3/15/29 | &nbsp;&nbsp; 421252 |
| &nbsp;&nbsp; 1648000 | &nbsp;&nbsp;VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.625%, 12/1/29 | &nbsp;&nbsp; 1632230 |
|  |  | &nbsp;&nbsp; 5682349 |
|  | &nbsp;&nbsp;**Information Technology — 1.9%** |  |
| &nbsp;&nbsp; 664000 | &nbsp;&nbsp;Central Parent, Inc. / CDK Global, Inc., 144a, 7.250%, 6/15/29 | &nbsp;&nbsp; 571208 |
| &nbsp;&nbsp; 885000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.000%, 10/15/26 | &nbsp;&nbsp; 883894 |
| &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 956595 |
| &nbsp;&nbsp; 469000 | &nbsp;&nbsp;Micron Technology, Inc., 6.750%, 11/1/29 | &nbsp;&nbsp; 509728 |
| &nbsp;&nbsp; 1023000 | &nbsp;&nbsp;Paychex, Inc., 5.600%, 4/15/35 | &nbsp;&nbsp; 1071491 |
|  |  | &nbsp;&nbsp; 3992916 |
|  | &nbsp;&nbsp;**Communication Services — 1.7%** |  |
| &nbsp;&nbsp; 778000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 716701 |
| &nbsp;&nbsp; 429000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.625%, 12/1/30 | &nbsp;&nbsp; 150513 |
| &nbsp;&nbsp; 299000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 298521 |
| &nbsp;&nbsp; 303000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 5.375%, 11/15/31 | &nbsp;&nbsp; 226820 |
| &nbsp;&nbsp; 605000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 587645 |
| &nbsp;&nbsp; 1689000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 1637873 |
|  |  | &nbsp;&nbsp; 3618073 |
|  | &nbsp;&nbsp;**Health Care — 1.6%** |  |
| &nbsp;&nbsp; 630000 | &nbsp;&nbsp;Biocon Biologics Global PLC (India), 144a, 6.670%, 10/9/29 | &nbsp;&nbsp; 612170 |
| &nbsp;&nbsp; 1360000 | &nbsp;&nbsp;HCA, Inc., 5.450%, 4/1/31 | &nbsp;&nbsp; 1414256 |
| &nbsp;&nbsp; 812000 | &nbsp;&nbsp;Pediatrix Medical Group, Inc., 144a, 5.375%, 2/15/30 | &nbsp;&nbsp; 806639 |
| &nbsp;&nbsp; 567000 | &nbsp;&nbsp;Tenet Healthcare Corp., 6.125%, 10/1/28 | &nbsp;&nbsp; 567477 |
|  |  | &nbsp;&nbsp; 3400542 |
|  | &nbsp;&nbsp;**Materials — 1.0%** |  |
| &nbsp;&nbsp; 691000 | &nbsp;&nbsp;Braskem Netherlands Finance BV (Brazil), 144a, 7.250%, 2/13/33 | &nbsp;&nbsp; 269490 |
| &nbsp;&nbsp; 741000 | &nbsp;&nbsp;LYB International Finance III LLC, 6.150%, 5/15/35 | &nbsp;&nbsp; 772405 |
| &nbsp;&nbsp; 614000 | &nbsp;&nbsp;Novelis Corp., 144a, 6.875%, 1/30/30 | &nbsp;&nbsp; 636683 |
| &nbsp;&nbsp; 539000 | &nbsp;&nbsp;Vedanta Resources Finance II PLC (India), 144a, 9.475%, 7/24/30 | &nbsp;&nbsp; 545399 |
|  |  | &nbsp;&nbsp; 2223977 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | &nbsp;&nbsp; $98668319 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 24.9%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 24.9%** |
| &nbsp;&nbsp; 900000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.250%, 8/15/54 | &nbsp;&nbsp; 830145 |
| &nbsp;&nbsp; 130000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.500%, 11/15/54 | &nbsp;&nbsp; 125064 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 24.9% (Continued)** | &nbsp;&nbsp;**U.S. Treasury Obligations — 24.9% (Continued)** |
| $17425000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | $17517570 |
| &nbsp;&nbsp;12380000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 12412884 |
| &nbsp;&nbsp; 3424477 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | &nbsp;&nbsp; 3337677 |
| &nbsp;&nbsp;13480000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 13523705 |
| &nbsp;&nbsp; 5260000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 5302737 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp; $53049782 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 11.0%** | &nbsp;&nbsp;**Asset-Backed Securities — 11.0%** |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Apidos CLO XII (Cayman Islands), Ser 2013-12A, Class CRR, 144a, (TSFR3M + 1.800%), 6.118%, 4/15/31<sup>(A)</sup> | &nbsp;&nbsp; 1001761 |
| &nbsp;&nbsp; 750000 | &nbsp;&nbsp;Bain Capital Credit CLO (Cayman Islands), Ser 2019-1A, Class CR2, 144a, (TSFR3M + 1.880%), 6.205%, 4/19/34<sup>(A)</sup> | &nbsp;&nbsp; 750745 |
| &nbsp;&nbsp; 760200 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | &nbsp;&nbsp; 827431 |
| &nbsp;&nbsp; 360000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Class E, 144a, 6.620%, 5/17/32 | &nbsp;&nbsp; 358432 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2022-4A, Class DR, 144a, (TSFR3M + 2.700%), 6.982%, 7/16/35<sup>(A)</sup> | &nbsp;&nbsp; 1004680 |
| &nbsp;&nbsp; 1042755 | &nbsp;&nbsp;Driven Brands Funding LLC, Ser 2020-1A, Class A2, 144a, 3.786%, 7/20/50 | &nbsp;&nbsp; 1024274 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Dryden Senior Loan Fund (Cayman Islands), Ser 2016-45A, Class BRR, 144a, (TSFR3M + 1.650%), 5.968%, 10/15/30<sup>(A)</sup> | &nbsp;&nbsp; 700225 |
| &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;Elmwood CLO 15 Ltd., Ser 2022-2A, Class CR, 144a, (TSFR3M + 1.850%), 6.108%, 4/22/35<sup>(A)</sup> | &nbsp;&nbsp; 1399927 |
| &nbsp;&nbsp; 1267000 | &nbsp;&nbsp;Flatiron RR CLO 22 LLC, Ser 2021-2A, Class DR, 144a, (TSFR3M + 2.400%), 6.718%, 10/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1260628 |
| &nbsp;&nbsp; 687750 | &nbsp;&nbsp;FOCUS Brands Funding, Ser 2023-2, Class A2, 144a, 8.241%, 10/30/53 | &nbsp;&nbsp; 730862 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class BRRR, 144a, (TSFR3M + 1.650%), 5.968%, 4/16/34<sup>(A)</sup> | &nbsp;&nbsp; 700438 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class DRRR, 144a, (TSFR3M + 3.250%), 7.568%, 4/16/34<sup>(A)</sup> | &nbsp;&nbsp; 700272 |
| &nbsp;&nbsp; 905000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-2A, Class E, 144a, 7.730%, 6/15/32 | &nbsp;&nbsp; 939480 |
| &nbsp;&nbsp; 1282000 | &nbsp;&nbsp;Golub Capital Partners CLO 51M LP (Cayman Islands), Ser 2021-51A, Class BR, 144a, (TSFR3M + 1.650%), 5.971%, 5/5/36<sup>(A)</sup> | &nbsp;&nbsp; 1280099 |
| &nbsp;&nbsp; 688125 | &nbsp;&nbsp;Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | &nbsp;&nbsp; 687535 |
| &nbsp;&nbsp; 1428750 | &nbsp;&nbsp;Hardee's Funding LLC, Ser 2020-1A, Class A2, 144a, 3.981%, 12/20/50 | &nbsp;&nbsp; 1378019 |
| &nbsp;&nbsp; 1386200 | &nbsp;&nbsp;Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | &nbsp;&nbsp; 1380531 |
| &nbsp;&nbsp; 1149000 | &nbsp;&nbsp;Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | &nbsp;&nbsp; 1088725 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Octagon Investment Partners 39 Ltd. (Cayman Islands), Ser 2018-3A, Class BR, 144a, (TSFR3M + 1.800%), 6.125%, 10/20/30<sup>(A)</sup> | &nbsp;&nbsp; 1002020 |
| &nbsp;&nbsp; 610000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2024-A, Class B, 144a, 7.548%, 1/14/32 | &nbsp;&nbsp; 610455 |
| &nbsp;&nbsp; 510000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2025-A, Class B, 144a, 7.194%, 8/14/34 | &nbsp;&nbsp; 508837 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class C, 144a, (TSFR3M + 2.500%), 6.788%, 7/15/33<sup>(A)</sup> | &nbsp;&nbsp; 1003058 |
| &nbsp;&nbsp; 1118700 | &nbsp;&nbsp;Planet Fitness Master Issuer LLC, Ser 2024-1A, Class A2II, 144a, 6.237%, 6/5/54 | &nbsp;&nbsp; 1141008 |

---

------

Touchstone Strategic Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 11.0% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 11.0% (Continued)** |
| $1116563 | &nbsp;&nbsp;TSC SPV Funding LLC, Ser 2024-1A, Class A2, 144a, 6.291%, 8/20/54 | $1134415 |
| &nbsp;&nbsp; 960000 | &nbsp;&nbsp;Zaxbys Funding LLC, Ser 2021-1A, Class A2, 144a, 3.238%, 7/30/51 | &nbsp;&nbsp; 905601 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $23519458 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 6.6%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 6.6%** |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2022-C17, Class XD, 144a, 3.213%, 9/15/55<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 350474 |
| &nbsp;&nbsp; 435000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57<sup>(A)(D)</sup> | &nbsp;&nbsp; 456960 |
| &nbsp;&nbsp; 1073671 | &nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2018-B5, Class AS, 4.419%, 7/15/51 | &nbsp;&nbsp; 1052257 |
| &nbsp;&nbsp;11008309 | &nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2024-V5, Class XA, 1.298%, 1/10/57<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 346929 |
| &nbsp;&nbsp; 1905000 | &nbsp;&nbsp;BX Trust, Ser 2019-OC11, Class E, 144a, 4.075%, 12/9/41<sup>(A)(D)</sup> | &nbsp;&nbsp; 1755373 |
| &nbsp;&nbsp; 1059000 | &nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2017-C8, Class B, 4.199%, 6/15/50<sup>(A)(D)</sup> | &nbsp;&nbsp; 1019480 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Class D, 144a, 3.548%, 10/10/47 | &nbsp;&nbsp; 602800 |
| &nbsp;&nbsp; 255000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50<sup>(A)(D)</sup> | &nbsp;&nbsp; 239912 |
| &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class D, 144a, 3.000%, 9/15/50 | &nbsp;&nbsp; 767685 |
| &nbsp;&nbsp; 600000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class B, 3.924%, 1/15/49<sup>(A)(D)</sup> | &nbsp;&nbsp; 573016 |
| &nbsp;&nbsp; 590000 | &nbsp;&nbsp;DK Trust, Ser 2025-LXP, Class C, 144a, (TSFR1M + 2.242%), 6.392%, 8/15/37<sup>(A)</sup> | &nbsp;&nbsp; 590553 |
| &nbsp;&nbsp; 540000 | &nbsp;&nbsp;DK Trust, Ser 2025-LXP, Class D, 144a, (TSFR1M + 2.891%), 7.041%, 8/15/37<sup>(A)</sup> | &nbsp;&nbsp; 540675 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2016-GS2, Class C, 4.845%, 5/10/49<sup>(A)(D)</sup> | &nbsp;&nbsp; 1452573 |
| &nbsp;&nbsp; 430000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 417100 |
| &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;KSL Commercial Mortgage Trust, Ser 2024-HT2, Class C, 144a, (TSFR1M + 2.341%), 6.491%, 12/15/39<sup>(A)</sup> | &nbsp;&nbsp; 1300406 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2015-C26, Class AS, 3.885%, 10/15/48<sup>(A)(D)</sup> | &nbsp;&nbsp; 498595 |
| &nbsp;&nbsp; 280000 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | &nbsp;&nbsp; 273435 |
| &nbsp;&nbsp; 320000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2015-P2, Class AS, 4.013%, 12/15/48 | &nbsp;&nbsp; 318532 |
| &nbsp;&nbsp; 1115000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2025-AURA, Class D, 144a, (TSFR1M + 2.891%), 6.991%, 10/15/42<sup>(A)</sup> | &nbsp;&nbsp; 1112213 |
| &nbsp;&nbsp; 465162 | &nbsp;&nbsp;WFRBS Commercial Mortgage Trust, Ser 2013-C13, Class D, 144a, 4.087%, 5/15/45<sup>(A)(D)</sup> | &nbsp;&nbsp; 426786 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp; $14095754 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.5%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.5%** |
| &nbsp;&nbsp; 782209 | &nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53<sup>(A)(D)</sup> | &nbsp;&nbsp; 771722 |
| &nbsp;&nbsp; 1112242 | &nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-RPL4, Class A1B, 144a, 3.375%, 12/25/64<sup>(A)(D)</sup> | &nbsp;&nbsp; 994017 |
| &nbsp;&nbsp; 1293554 | &nbsp;&nbsp;CIM Trust, Ser 2021-J3, Class A7, 144a, 2.500%, 6/25/51<sup>(A)(D)</sup> | &nbsp;&nbsp; 1155873 |
| &nbsp;&nbsp; 770337 | &nbsp;&nbsp;Citigroup Mortgage Loan Trust, Ser 2021-J1, Class A4A, 144a, 2.500%, 4/25/51<sup>(A)(D)</sup> | &nbsp;&nbsp; 634173 |
| &nbsp;&nbsp; 575126 | &nbsp;&nbsp;COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67<sup>(A)(D)</sup> | &nbsp;&nbsp; 572905 |
| &nbsp;&nbsp; 708380 | &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2021-5INV, Class A16, 144a, 2.500%, 7/25/51<sup>(A)(D)</sup> | &nbsp;&nbsp; 582947 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.5%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.5%<br> (Continued)** |
| $552543 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-MM1, Class A6, 144a, 2.500%, 4/25/52<sup>(A)(D)</sup> | $490080 |
| &nbsp;&nbsp; 1847430 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-6, Class B2, 144a, 3.896%, 12/25/48<sup>(A)(D)</sup> | &nbsp;&nbsp; 1712505 |
| &nbsp;&nbsp; 502216 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-1, Class B1, 144a, 4.477%, 5/25/49<sup>(A)(D)</sup> | &nbsp;&nbsp; 477163 |
| &nbsp;&nbsp; 645480 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-1, Class B4, 144a, 3.821%, 6/25/50<sup>(A)(D)</sup> | &nbsp;&nbsp; 573811 |
| &nbsp;&nbsp; 631384 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B4, 144a, 4.012%, 11/25/50<sup>(A)(D)</sup> | &nbsp;&nbsp; 562762 |
| &nbsp;&nbsp; 762686 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(A)(D)</sup> | &nbsp;&nbsp; 688824 |
| &nbsp;&nbsp; 802387 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2022-INV2, Class A15, 144a, 3.000%, 4/25/52<sup>(A)(D)</sup> | &nbsp;&nbsp; 689834 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-1, Class B2, 144a, 3.899%, 11/25/58<sup>(A)(D)</sup> | &nbsp;&nbsp; 910614 |
| &nbsp;&nbsp; 592003 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 4.168%, 7/25/59<sup>(A)(D)</sup> | &nbsp;&nbsp; 537961 |
| &nbsp;&nbsp; 382916 | &nbsp;&nbsp;OBX Trust, Ser 2022-J1, Class B1A, 144a, 2.843%, 2/25/52<sup>(A)(D)</sup> | &nbsp;&nbsp; 326534 |
| &nbsp;&nbsp; 499621 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-4, Class B3, 144a, 3.784%, 11/25/49<sup>(A)(D)</sup> | &nbsp;&nbsp; 458874 |
| &nbsp;&nbsp; 900000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-3, Class B3, 144a, 3.862%, 7/25/57<sup>(A)(D)</sup> | &nbsp;&nbsp; 784106 |
| &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2020-4, Class A2, 144a, 2.500%, 10/25/60 | &nbsp;&nbsp; 863632 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $13788337 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Common Stocks — 1.5%** |  |
|  | &nbsp;&nbsp;**Financials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8967 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 462608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 542314 |
|  |  | &nbsp;&nbsp; 1004922 |
|  | &nbsp;&nbsp;**Information Technology — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522 | &nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 429447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 327591 |
|  |  | &nbsp;&nbsp; 757038 |
|  | &nbsp;&nbsp;**Industrials — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2813 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 470699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 261642 |
|  |  | &nbsp;&nbsp; 732341 |
|  | &nbsp;&nbsp;**Health Care — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 394203 |
|  | &nbsp;&nbsp;**Energy — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 356966 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;&nbsp; $3245470 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.4%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.4%** |
| $9280 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.717%, 7/3/26<sup>#</sup> | &nbsp;&nbsp; 8955 |
| &nbsp;&nbsp; 422933 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.962%, 1/3/30<sup>#</sup> | &nbsp;&nbsp; 361868 |
| &nbsp;&nbsp; 140360 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 5.000%, 7/3/29<sup>(A)(D)</sup> | &nbsp;&nbsp; 136484 |
| &nbsp;&nbsp; 453330 | &nbsp;&nbsp;Sri Lanka Government International Bond, 144a, 4.000%, 4/15/28 | &nbsp;&nbsp; 433157 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp;&nbsp; $940464 |

---

------

Touchstone Strategic Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 3.4%** |  |
| 7247319 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω\*\*</sup> | $7247319 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.6%<br> (Cost $210,423,864)** | $214554903 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.6%)** | &nbsp;&nbsp;&nbsp; (1307983) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $213246920 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* |
| *(B)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *(C)* | *Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.* |
| *(D)* | *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* |
| *\*\** | *All or a portion of the security represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $1,461,676.* |
| *#* | *Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $99,273,619 or 46.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| ***Assets:*** |  |  |  |  |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$98668319* | *$—* | *$98668319* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*53049782* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*53049782* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*23519458* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*23519458* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14095754* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14095754* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*13788337* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*13788337* |
| *Common Stocks* | &nbsp;&nbsp;&nbsp;&nbsp;*3245470* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3245470* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*940464* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*940464* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*7247319* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*7247319* |
| ***Other Financial Instruments*** |  |  |  |  |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*13276* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*13276* |
| *Total Assets* | *$10506065* | *$204062114* | *$—* | *$214568179* |
| ***Liabilities:*** |  |  |  |  |
| ***Other Financial Instruments*** |  |  |  |  |
| *Swap Agreements* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Credit contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(86132)* | *$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(86132)* |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(157746)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(157746)* |
| *Total Liabilities* | &nbsp;&nbsp;&nbsp;*$(157746)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(86132)* | *$—* | &nbsp;&nbsp;&nbsp;&nbsp;*$(243878)* |
| *Total* | *$10348319* | *$203975982* | *$—* | *$214324301* |

---

------

Touchstone Strategic Income ETF (Unaudited) (Continued)

#### Futures Contracts
*At September 30, 2025, $604,478 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at September 30, 2025:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Description*** | &nbsp;&nbsp;&nbsp;***Expiration Date*** | &nbsp;&nbsp;&nbsp;***Number of<br> Contracts*** | &nbsp;&nbsp;&nbsp;***Notional Value*** | &nbsp;&nbsp;&nbsp;***Unrealized<br> Appreciation/<br> Depreciation*** |
| *Short Futures:* |  |  |  |  |
| *30-Year U.S. Ultra Treasury Bond* | &nbsp;&nbsp;&nbsp;*12/19/2025* | &nbsp;&nbsp;&nbsp;&nbsp;*86* | &nbsp;&nbsp;&nbsp;*$10325375* | &nbsp;&nbsp;&nbsp;*$13276* |
| *Long Futures:* |  |  |  |  |
| *2-Year U.S. Treasury Note* | &nbsp;&nbsp;&nbsp;*12/31/2025* | &nbsp;&nbsp;&nbsp;*404* | &nbsp;&nbsp;&nbsp;&nbsp;*84192969* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(157746)* |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(144470)* |

---

#### Centrally Cleared Credit Default Swaps on Credit Indices<sup>(1)</sup>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Termination<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount<sup>(2)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Pay Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;&nbsp;**Clearinghouse** | &nbsp;&nbsp;&nbsp;&nbsp;**Underlying<br> Bond** | &nbsp;&nbsp;&nbsp;&nbsp;**Value<sup>(3)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Premiums<br> Paid/<br> (Received)** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **Buy Protection:** |  |  |  |  |  |  |  |  |
| Wells Fargo | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;$6335000 | &nbsp;&nbsp;&nbsp;&nbsp;5.000% | &nbsp;&nbsp;&nbsp;&nbsp;OTC | &nbsp;&nbsp;&nbsp;&nbsp;Markit CDX North America High<br> Yield Series 44 5Y Index | &nbsp;&nbsp;&nbsp;&nbsp;$(505976) | &nbsp;&nbsp;&nbsp;&nbsp;$(419844) | &nbsp;&nbsp;&nbsp;&nbsp;$(86132) |

---

*(1)* *If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.* 

*(2)* *The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.* 

*(3)* *The quoted market prices and resulting values for credit default swap agreements on the underlying bond serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.* 

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Ultra Short Income ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 42.7%** | &nbsp;&nbsp;**Asset-Backed Securities — 42.7%** |
| $341506 | &nbsp;&nbsp;321 Henderson Receivables VI LLC, Ser 2010-1A, Class A, 144a, 5.560%, 7/15/59 | $343798 |
| &nbsp;&nbsp; 162925 | &nbsp;&nbsp;Alinea CLO Ltd. (Cayman Islands), Ser 2018-1A, Class AR, 144a, (TSFR3M + 0.900%), 5.225%, 7/20/31<sup>(A)</sup> | &nbsp;&nbsp; 162967 |
| &nbsp;&nbsp; 317052 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2022-3, Class D, 144a, 5.830%, 10/13/28 | &nbsp;&nbsp; 317995 |
| &nbsp;&nbsp; 479280 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2022-4, Class D, 144a, 8.000%, 2/15/29 | &nbsp;&nbsp; 484785 |
| &nbsp;&nbsp; 127002 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-1, Class C, 144a, 5.590%, 4/12/29 | &nbsp;&nbsp; 127143 |
| &nbsp;&nbsp;2075000 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-1, Class D, 144a, 6.350%, 4/12/29 | &nbsp;&nbsp; 2102250 |
| &nbsp;&nbsp;1250000 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-2, Class D, 144a, 6.470%, 8/13/29 | &nbsp;&nbsp; 1266047 |
| &nbsp;&nbsp; 876599 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-4, Class C, 144a, 6.990%, 9/12/30 | &nbsp;&nbsp; 885285 |
| &nbsp;&nbsp;1215240 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-1, Class C, 144a, 5.630%, 1/14/30 | &nbsp;&nbsp; 1220439 |
| &nbsp;&nbsp;2983000 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-2, Class C, 144a, 6.240%, 4/12/30 | &nbsp;&nbsp; 3015893 |
| &nbsp;&nbsp;1200000 | &nbsp;&nbsp;American Homes 4 Rent Trust, Ser 2015-SFR2, Class C, 144a, 4.691%, 10/17/52 | &nbsp;&nbsp; 1197318 |
| &nbsp;&nbsp;1940000 | &nbsp;&nbsp;Americredit Automobile Receivables Trust, Ser 2022-1, Class C, 2.980%, 9/20/27 | &nbsp;&nbsp; 1925818 |
| &nbsp;&nbsp;2289500 | &nbsp;&nbsp;Arbys Funding LLC, Ser 2020-1A, Class A2, 144a, 3.237%, 7/30/50 | &nbsp;&nbsp; 2211285 |
| &nbsp;&nbsp; 330202 | &nbsp;&nbsp;Bain Capital Credit CLO (Cayman Islands), Ser 2018-2A, Class A1R, 144a, (TSFR3M + 1.080%), 5.405%, 7/19/31<sup>(A)</sup> | &nbsp;&nbsp; 330215 |
| &nbsp;&nbsp;2620000 | &nbsp;&nbsp;Ballyrock CLO Ltd. (Cayman Islands), Ser 2019-2A, Class XR3, 144a, (TSFR3M + 0.850%), 4.740%, 10/25/38<sup>(A)</sup> | &nbsp;&nbsp; 2620000 |
| &nbsp;&nbsp;1388000 | &nbsp;&nbsp;BCRED BSL Static CLO Ltd. (Cayman Islands), Ser 2025-1A, Class AR, 144a, (TSFR3M + 1.250%), 5.541%, 7/24/35<sup>(A)</sup> | &nbsp;&nbsp; 1385114 |
| &nbsp;&nbsp;1497000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-1, Class C, 5.150%, 12/17/29 | &nbsp;&nbsp; 1505373 |
| &nbsp;&nbsp;3050000 | &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2019-1A, Class A1A2, 144a, (TSFR3M + 0.950%), 5.229%, 4/20/31<sup>(A)</sup> | &nbsp;&nbsp; 3052522 |
| &nbsp;&nbsp; 939083 | &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2016-1A, Class AR3, 144a, (TSFR3M + 1.000%), 5.325%, 10/21/31<sup>(A)</sup> | &nbsp;&nbsp; 937456 |
| &nbsp;&nbsp;1058515 | &nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2024-A, Class B, 144a, 5.650%, 5/15/28 | &nbsp;&nbsp; 1061011 |
| &nbsp;&nbsp; 453529 | &nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2023-1A, Class A, 144a, 6.480%, 3/15/33 | &nbsp;&nbsp; 454898 |
| &nbsp;&nbsp; 313291 | &nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2023-2A, Class A, 144a, 5.920%, 5/16/33 | &nbsp;&nbsp; 314227 |
| &nbsp;&nbsp; 595000 | &nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2023-5A, Class A, 144a, 6.130%, 12/15/33 | &nbsp;&nbsp; 601191 |
| &nbsp;&nbsp;1386500 | &nbsp;&nbsp;DB Master Finance LLC, Ser 2019-1A, Class A2II, 144a, 4.021%, 5/20/49 | &nbsp;&nbsp; 1381581 |
| &nbsp;&nbsp; 211750 | &nbsp;&nbsp;DB Master Finance LLC, Ser 2021-1A, Class A2I, 144a, 2.045%, 11/20/51 | &nbsp;&nbsp; 206132 |
| &nbsp;&nbsp;2265000 | &nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Class A2, 4.290%, 10/16/28 | &nbsp;&nbsp; 2265305 |
| &nbsp;&nbsp; 574733 | &nbsp;&nbsp;Driven Brands Funding LLC, Ser 2019-2A, Class A2, 144a, 3.981%, 10/20/49 | &nbsp;&nbsp; 570552 |
| &nbsp;&nbsp;1606739 | &nbsp;&nbsp;Dryden 53 CLO Ltd. (Cayman Islands), Ser 2017-53A, Class AR, 144a, (TSFR3M + 1.000%), 5.302%, 1/15/31<sup>(A)</sup> | &nbsp;&nbsp; 1607563 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** |
| $4500000 | &nbsp;&nbsp;DT Auto Owner Trust, Ser 2021-3A, Class E, 144a, 2.650%, 9/15/28 | $4461317 |
| &nbsp;&nbsp; 104168 | &nbsp;&nbsp;Elara HGV Timeshare Issuer LLC, Ser 2021-A, Class A, 144a, 1.360%, 8/27/35 | &nbsp;&nbsp; 99270 |
| &nbsp;&nbsp;1044000 | &nbsp;&nbsp;Elmwood CLO X Ltd. (Cayman Islands), Ser 2021-3A, Class X, 144a, (TSFR3M + 0.950%), 5.208%, 7/20/38<sup>(A)</sup> | &nbsp;&nbsp; 1043963 |
| &nbsp;&nbsp;1233642 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-1A, Class E, 144a, 2.210%, 2/15/28 | &nbsp;&nbsp; 1232482 |
| &nbsp;&nbsp; 517606 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-3A, Class D, 1.550%, 6/15/27 | &nbsp;&nbsp; 511457 |
| &nbsp;&nbsp;2900000 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-3A, Class E, 144a, 3.040%, 12/15/28 | &nbsp;&nbsp; 2867612 |
| &nbsp;&nbsp; 690705 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2023-4A, Class C, 6.510%, 8/15/28 | &nbsp;&nbsp; 695757 |
| &nbsp;&nbsp;2052000 | &nbsp;&nbsp;Flatiron CLO 20 Ltd. (Cayman Islands), Ser 2020-1A, Class XR, 144a, (TSFR3M + 0.900%), 4.925%, 11/20/38<sup>(A)</sup> | &nbsp;&nbsp; 2052000 |
| &nbsp;&nbsp; 493872 | &nbsp;&nbsp;Fortress Credit Opportunities XXIX CLO Ltd. (Cayman Islands), Ser 2025-29A, Class A1, 144a, (TSFR3M + 1.250%), 5.575%, 4/20/33<sup>(A)</sup> | &nbsp;&nbsp; 493895 |
| &nbsp;&nbsp;1750000 | &nbsp;&nbsp;Fortress Credit Opportunities XXXV CLO Ltd. (Cayman Islands), Ser 2025-35A, Class A1, 144a, (TSFR3M + 1.400%), 5.727%, 7/20/33<sup>(A)</sup> | &nbsp;&nbsp; 1750184 |
| &nbsp;&nbsp; 173114 | &nbsp;&nbsp;Foursight Capital Automobile Receivables Trust, Ser 2023-2, Class A2, 144a, 5.990%, 5/15/28 | &nbsp;&nbsp; 173875 |
| &nbsp;&nbsp; 167987 | &nbsp;&nbsp;Galaxy XXVI CLO Ltd. (Cayman Islands), Ser 2018-26A, Class AR, 144a, (TSFR3M + 1.170%), 5.374%, 11/22/31<sup>(A)</sup> | &nbsp;&nbsp; 167980 |
| &nbsp;&nbsp; 221950 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2020-3A, Class E, 144a, 4.310%, 7/15/27 | &nbsp;&nbsp; 221941 |
| &nbsp;&nbsp;3400000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2021-2A, Class E, 144a, 2.870%, 5/15/28 | &nbsp;&nbsp; 3358537 |
| &nbsp;&nbsp; 413323 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2021-3A, Class D, 144a, 1.480%, 7/15/27 | &nbsp;&nbsp; 409687 |
| &nbsp;&nbsp;1950808 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-2A, Class D, 144a, 6.150%, 4/17/28 | &nbsp;&nbsp; 1965410 |
| &nbsp;&nbsp;1495000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-3A, Class D, 144a, 6.420%, 6/15/28 | &nbsp;&nbsp; 1515737 |
| &nbsp;&nbsp; 525407 | &nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2024-3A, Class A2, 144a, 5.590%, 10/15/29 | &nbsp;&nbsp; 531555 |
| &nbsp;&nbsp;1101000 | &nbsp;&nbsp;Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | &nbsp;&nbsp; 1100056 |
| &nbsp;&nbsp; 675000 | &nbsp;&nbsp;GreatAmerica Leasing Receivables Funding LLC Series, Ser 2022-1, Class C, 144a, 5.980%, 7/15/30 | &nbsp;&nbsp; 684853 |
| &nbsp;&nbsp;1522000 | &nbsp;&nbsp;Greywolf CLO IV Ltd. (Cayman Islands), Ser 2019-1A, Class A1R2, 144a, (TSFR3M + 1.240%), 5.520%, 4/17/34<sup>(A)</sup> | &nbsp;&nbsp; 1521974 |
| &nbsp;&nbsp;1077415 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2020-AA, Class A, 144a, 2.740%, 2/25/39 | &nbsp;&nbsp; 1059925 |
| &nbsp;&nbsp; 171700 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2020-AA, Class B, 144a, 4.220%, 2/25/39 | &nbsp;&nbsp; 171068 |
| &nbsp;&nbsp;2193257 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2022-1D, Class A, 144a, 3.610%, 6/20/34 | &nbsp;&nbsp; 2181299 |
| &nbsp;&nbsp; 391496 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2022-1D, Class B, 144a, 4.100%, 6/20/34 | &nbsp;&nbsp; 389266 |
| &nbsp;&nbsp; 172928 | &nbsp;&nbsp;Hpefs Equipment Trust, Ser 2022-3A, Class C, 144a, 6.130%, 8/20/29 | &nbsp;&nbsp; 173084 |
| &nbsp;&nbsp;3501450 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | &nbsp;&nbsp; 3403303 |
| &nbsp;&nbsp; 582045 | &nbsp;&nbsp;M&T Equipment Notes, Ser 2024-1A, Class A2, 144a, 4.990%, 8/18/31 | &nbsp;&nbsp; 584029 |

---

------

Touchstone Ultra Short Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** |
| $1100463 | &nbsp;&nbsp;Madison Park Funding XIV Ltd. (Cayman Islands), Ser 2014-14A, Class AR4, 144a, (TSFR3M + 0.960%), 5.292%, 10/22/30<sup>(A)</sup> | $1101015 |
| &nbsp;&nbsp; 134492 | &nbsp;&nbsp;Madison Park Funding XXIV Ltd. (Cayman Islands), Ser 2016-24A, Class AR2, 144a, (TSFR3M + 1.120%), 5.445%, 10/20/29<sup>(A)</sup> | &nbsp;&nbsp; 134494 |
| &nbsp;&nbsp; 445500 | &nbsp;&nbsp;Madison Park Funding XXVIII Ltd. (Cayman Islands), Ser 2018-28A, Class X, 144a, (TSFR3M + 0.900%), 5.218%, 1/15/38<sup>(A)</sup> | &nbsp;&nbsp; 444962 |
| &nbsp;&nbsp;1362020 | &nbsp;&nbsp;MF1 Ltd. (Cayman Islands), Ser 2020-FL4, Class A, 144a, (TSFR1M + 1.814%), 5.957%, 12/15/35<sup>(A)</sup> | &nbsp;&nbsp; 1364173 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;MF1 Ltd. (Cayman Islands), Ser 2020-FL4, Class C, 144a, (TSFR1M + 3.714%), 7.857%, 12/15/35<sup>(A)</sup> | &nbsp;&nbsp; 1502688 |
| &nbsp;&nbsp; 790124 | &nbsp;&nbsp;MVW LLC, Ser 2021-2A, Class A, 144a, 1.430%, 5/20/39 | &nbsp;&nbsp; 746026 |
| &nbsp;&nbsp; 975000 | &nbsp;&nbsp;Neighborly Issuer, Ser 2023-1A, Class A2, 144a, 7.308%, 1/30/53 | &nbsp;&nbsp; 987836 |
| &nbsp;&nbsp; 771412 | &nbsp;&nbsp;Octagon Investment Partners XXI Ltd. (Cayman Islands), Ser 2014-1A, Class AAR4, 144a, (TSFR3M + 0.810%), 5.043%, 2/14/31<sup>(A)</sup> | &nbsp;&nbsp; 771554 |
| &nbsp;&nbsp; 83536 | &nbsp;&nbsp;OneMain Direct Auto Receivables Trust, Ser 2019-1A, Class A, 144a, 3.630%, 9/14/27 | &nbsp;&nbsp; 83466 |
| &nbsp;&nbsp; 55173 | &nbsp;&nbsp;OneMain Direct Auto Receivables Trust, Ser 2021-1A, Class A, 144a, 0.870%, 7/14/28 | &nbsp;&nbsp; 55032 |
| &nbsp;&nbsp; 430939 | &nbsp;&nbsp;OneMain Direct Auto Receivables Trust, Ser 2022-1A, Class A1, 144a, 4.650%, 3/14/29 | &nbsp;&nbsp; 430821 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;OneMain Direct Auto Receivables Trust, Ser 2022-1A, Class B, 144a, 5.070%, 6/14/29 | &nbsp;&nbsp; 2008584 |
| &nbsp;&nbsp; 975000 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2021-1A, Class A1, 144a, 1.550%, 6/16/36 | &nbsp;&nbsp; 942529 |
| &nbsp;&nbsp; 854905 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2022-S1, Class A, 144a, 4.130%, 5/14/35 | &nbsp;&nbsp; 854039 |
| &nbsp;&nbsp; 741039 | &nbsp;&nbsp;Oxford Finance Funding Trust, Ser 2023-1A, Class B, 144a, 7.879%, 2/15/31 | &nbsp;&nbsp; 742473 |
| &nbsp;&nbsp; 127332 | &nbsp;&nbsp;OZLM XXI Ltd. (Cayman Islands), Ser 2017-21A, Class A1R, 144a, (TSFR3M + 1.150%), 5.475%, 1/20/31<sup>(A)</sup> | &nbsp;&nbsp; 127330 |
| &nbsp;&nbsp;2600000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class A1, 144a, (TSFR3M + 0.940%), 5.228%, 7/15/33<sup>(A)</sup> | &nbsp;&nbsp; 2599763 |
| &nbsp;&nbsp;1375125 | &nbsp;&nbsp;Planet Fitness Master Issuer LLC, Ser 2022-1A, Class A2I, 144a, 3.251%, 12/5/51 | &nbsp;&nbsp; 1351436 |
| &nbsp;&nbsp;1065000 | &nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2025-1A, Class B, 144a, 5.340%, 11/15/28 | &nbsp;&nbsp; 1073759 |
| &nbsp;&nbsp; 497143 | &nbsp;&nbsp;Regatta XX Funding Ltd. (Cayman Islands), Ser 2021-2A, Class X, 144a, (TSFR3M + 0.970%), 5.288%, 1/15/38<sup>(A)</sup> | &nbsp;&nbsp; 497147 |
| &nbsp;&nbsp; 197775 | &nbsp;&nbsp;Romark WM-R Ltd. (Cayman Islands), Ser 2018-1A, Class A1, 144a, (TSFR3M +1.292%), 5.617%, 4/20/31<sup>(A)</sup> | &nbsp;&nbsp; 197815 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2021-4, Class E, 144a, 4.030%, 3/15/29 | &nbsp;&nbsp; 1496821 |
| &nbsp;&nbsp; 331184 | &nbsp;&nbsp;SCF Equipment Leasing LLC, Ser 2024-1A, Class A2, 144a, 5.880%, 11/20/29 | &nbsp;&nbsp; 333594 |
| &nbsp;&nbsp; 480088 | &nbsp;&nbsp;SCF Equipment Trust LLC, Ser 2025-1A, Class A2, 144a, 4.820%, 7/22/30 | &nbsp;&nbsp; 481637 |
| &nbsp;&nbsp; 540669 | &nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Ser 2021-1A, Class A, 144a, 0.990%, 11/20/37 | &nbsp;&nbsp; 536143 |
| &nbsp;&nbsp;1519024 | &nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Ser 2021-2A, Class A, 144a, 1.350%, 9/20/38 | &nbsp;&nbsp; 1501189 |
| &nbsp;&nbsp; 198877 | &nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Ser 2023-2A, Class C, 144a, 7.300%, 4/20/40 | &nbsp;&nbsp; 205782 |
| &nbsp;&nbsp; 936090 | &nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Ser 2024-2A, Class C, 144a, 5.830%, 6/20/41 | &nbsp;&nbsp; 946926 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 42.7% (Continued)** |
| $432141 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2019-HY1, Class A1, 144a, (TSFR1M + 1.114%), 5.272%, 10/25/48<sup>(A)</sup> | $432596 |
| &nbsp;&nbsp; 178271 | &nbsp;&nbsp;Voya CLO Ltd. (Cayman Islands), Ser 2013-2A, Class A1R, 144a, (TSFR3M + 1.232%), 5.550%, 4/25/31<sup>(A)</sup> | &nbsp;&nbsp; 178267 |
| &nbsp;&nbsp;1830000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2021-3A, Class E, 144a, 3.420%, 4/15/27 | &nbsp;&nbsp; 1826143 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2022-2A, Class D, 144a, 5.480%, 9/15/27 | &nbsp;&nbsp; 1003746 |
| &nbsp;&nbsp; 653005 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2022-3A, Class C, 144a, 6.440%, 12/15/27 | &nbsp;&nbsp; 655806 |
| &nbsp;&nbsp; 820000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2022-3A, Class D, 144a, 6.680%, 4/17/28 | &nbsp;&nbsp; 832376 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-3A, Class D, 144a, 6.470%, 3/15/29 | &nbsp;&nbsp; 2056296 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $98879943 |
|  | &nbsp;&nbsp;**Corporate Bonds — 24.9%** |  |
|  | &nbsp;&nbsp;**Financials — 8.3%** |  |
| &nbsp;&nbsp; 512000 | &nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 4.450%, 10/1/25 | &nbsp;&nbsp; 512000 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;Ares Capital Corp., 2.150%, 7/15/26 | &nbsp;&nbsp; 1473662 |
| &nbsp;&nbsp; 892000 | &nbsp;&nbsp;Ares Capital Corp., 3.875%, 1/15/26 | &nbsp;&nbsp; 890445 |
| &nbsp;&nbsp;1027000 | &nbsp;&nbsp;Aviation Capital Group LLC, 144a, 4.875%, 10/1/25 | &nbsp;&nbsp; 1027000 |
| &nbsp;&nbsp;2470000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 5.200%, 5/12/26 | &nbsp;&nbsp; 2481831 |
| &nbsp;&nbsp; 615000 | &nbsp;&nbsp;Citibank NA, (SOFR + 0.708%), 4.980%, 8/6/26<sup>(A)</sup> | &nbsp;&nbsp; 616759 |
| &nbsp;&nbsp; 425000 | &nbsp;&nbsp;Comerica, Inc., 3.800%, 7/22/26 | &nbsp;&nbsp; 422564 |
| &nbsp;&nbsp;1021000 | &nbsp;&nbsp;Fifth Third Bank NA, (SOFR + 0.810%), 5.108%, 1/28/28<sup>(A)</sup> | &nbsp;&nbsp; 1022463 |
| &nbsp;&nbsp; 250000 | &nbsp;&nbsp;Huntington National Bank (The), 4.871%, 4/12/28 | &nbsp;&nbsp; 252697 |
| &nbsp;&nbsp; 411000 | &nbsp;&nbsp;JPMorgan Chase & Co., Ser B, (TSFR3M + 0.762%), 5.058%, 2/1/27<sup>(A)</sup> | &nbsp;&nbsp; 406911 |
| &nbsp;&nbsp;5378000 | &nbsp;&nbsp;Lloyds Banking Group PLC (United Kingdom), 4.582%, 12/10/25 | &nbsp;&nbsp; 5379043 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Pacific Life Global Funding II, 144a, (SOFR + 0.620%), 4.823%, 6/4/26<sup>(A)</sup> | &nbsp;&nbsp; 1002698 |
| &nbsp;&nbsp; 735000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 5.003%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 725883 |
| &nbsp;&nbsp;1100000 | &nbsp;&nbsp;Toronto-Dominion Bank (The) (Canada), (SOFR + 0.480%), 4.811%, 10/10/25<sup>(A)</sup> | &nbsp;&nbsp; 1100070 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 5.143%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 1985079 |
|  |  | &nbsp;&nbsp; 19299105 |
|  | &nbsp;&nbsp;**Industrials — 4.0%** |  |
| &nbsp;&nbsp;3839000 | &nbsp;&nbsp;Berry Global, Inc., 1.570%, 1/15/26 | &nbsp;&nbsp; 3805958 |
| &nbsp;&nbsp;1100000 | &nbsp;&nbsp;Berry Global, Inc., 144a, 4.875%, 7/15/26 | &nbsp;&nbsp; 1100035 |
| &nbsp;&nbsp; 550000 | &nbsp;&nbsp;Graphic Packaging International LLC, 144a, 1.512%, 4/15/26 | &nbsp;&nbsp; 541046 |
| &nbsp;&nbsp; 250000 | &nbsp;&nbsp;L3Harris Technologies, Inc., 5.400%, 1/15/27 | &nbsp;&nbsp; 254127 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.750%, 5/24/26 | &nbsp;&nbsp; 1007938 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 4.450%, 1/29/26 | &nbsp;&nbsp; 1499563 |
| &nbsp;&nbsp;1047000 | &nbsp;&nbsp;Silgan Holdings, Inc., 144a, 1.400%, 4/1/26 | &nbsp;&nbsp; 1030566 |
|  |  | &nbsp;&nbsp; 9239233 |
|  | &nbsp;&nbsp;**Energy — 2.8%** |  |
| &nbsp;&nbsp;2298000 | &nbsp;&nbsp;Gulfstream Natural Gas System LLC, 144a, 6.190%, 11/1/25 | &nbsp;&nbsp; 2300122 |
| &nbsp;&nbsp;4150000 | &nbsp;&nbsp;ONEOK, Inc., 5.000%, 3/1/26 | &nbsp;&nbsp; 4152324 |
|  |  | &nbsp;&nbsp; 6452446 |
|  | &nbsp;&nbsp;**Utilities — 2.5%** |  |
| &nbsp;&nbsp;3675000 | &nbsp;&nbsp;CMS Energy Corp., 3.600%, 11/15/25 | &nbsp;&nbsp; 3666973 |
| &nbsp;&nbsp; 750000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 3.625%, 10/13/25 | &nbsp;&nbsp; 749692 |

---

------

Touchstone Ultra Short Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 24.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Utilities — 2.5% (Continued)** |  |
| $940000 | &nbsp;&nbsp;KeySpan Gas East Corp., 144a, 2.742%, 8/15/26 | $927885 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Vistra Operations Co. LLC, 144a, 5.050%, 12/30/26 | &nbsp;&nbsp; 502839 |
|  |  | &nbsp;&nbsp; 5847389 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.2%** |  |
| &nbsp;&nbsp;1119000 | &nbsp;&nbsp;General Motors Financial Co., Inc., (SOFRINDX + 1.050%), 5.376%, 7/15/27<sup>(A)</sup> | &nbsp;&nbsp; 1119153 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.250%, 1/8/27 | &nbsp;&nbsp; 505413 |
| &nbsp;&nbsp; 590000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.500%, 3/30/26 | &nbsp;&nbsp; 592994 |
| &nbsp;&nbsp;1875000 | &nbsp;&nbsp;Mattel, Inc., 144a, 3.375%, 4/1/26 | &nbsp;&nbsp; 1861577 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Mercedes-Benz Finance North America LLC (Germany), 144a, (SOFR + 0.630%), 4.928%, 7/31/26<sup>(A)</sup> | &nbsp;&nbsp; 1002660 |
|  |  | &nbsp;&nbsp; 5081797 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.0%** |  |
| &nbsp;&nbsp;3150000 | &nbsp;&nbsp;Conagra Brands, Inc., 4.600%, 11/1/25 | &nbsp;&nbsp; 3149015 |
| &nbsp;&nbsp;1561000 | &nbsp;&nbsp;Triton Container International Ltd. (Bermuda), 144a, 2.050%, 4/15/26 | &nbsp;&nbsp; 1541392 |
|  |  | &nbsp;&nbsp; 4690407 |
|  | &nbsp;&nbsp;**Real Estate — 1.6%** |  |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Public Storage Operating Co. REIT, (SOFR + 0.700%), 5.018%, 4/16/27<sup>(A)</sup> | &nbsp;&nbsp; 1003148 |
| &nbsp;&nbsp;2750000 | &nbsp;&nbsp;SBA Tower Trust REIT, 144a, 1.884%, 1/15/26 | &nbsp;&nbsp; 2729154 |
|  |  | &nbsp;&nbsp; 3732302 |
|  | &nbsp;&nbsp;**Materials — 0.9%** |  |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Smurfit Kappa Treasury Funding DAC (Ireland), 7.500%, 11/20/25 | &nbsp;&nbsp; 2004923 |
|  | &nbsp;&nbsp;**Health Care — 0.6%** |  |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Elevance Health, Inc., 4.500%, 10/30/26 | &nbsp;&nbsp; 702932 |
| &nbsp;&nbsp; 765000 | &nbsp;&nbsp;UnitedHealth Group, Inc., (SOFR + 0.500%), 4.826%, 7/15/26<sup>(A)</sup> | &nbsp;&nbsp; 765921 |
|  |  | &nbsp;&nbsp; 1468853 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | &nbsp;&nbsp; $57816455 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9%** |
| &nbsp;&nbsp; 872748 | &nbsp;&nbsp;1166 Avenue of the Americas Commercial Mortgage Trust II, Ser 2005-C6A, Class A2, 144a, 5.690%, 10/13/37 | &nbsp;&nbsp; 883995 |
| &nbsp;&nbsp; 299717 | &nbsp;&nbsp;ACRE Commercial Mortgage Ltd., Ser 2021-FL4, Class B, 144a, (TSFR1M + 2.014%), 6.150%, 12/18/37<sup>(A)</sup> | &nbsp;&nbsp; 293772 |
| &nbsp;&nbsp;2100000 | &nbsp;&nbsp;Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2016-UB10, Class AS, 3.385%, 7/15/49 | &nbsp;&nbsp; 2065169 |
| &nbsp;&nbsp;1375786 | &nbsp;&nbsp;BDS Ltd. (Cayman Islands), Ser 2021-FL10, Class A, 144a, (TSFR1M + 1.464%), 5.600%, 12/16/36<sup>(A)</sup> | &nbsp;&nbsp; 1375790 |
| &nbsp;&nbsp; 609911 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-21M, Class A, 144a, (TSFR1M + 0.844%), 4.994%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 609339 |
| &nbsp;&nbsp;1050000 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-21M, Class B, 144a, (TSFR1M + 1.092%), 5.242%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 1049016 |
| &nbsp;&nbsp; 949900 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-21M, Class C, 144a, (TSFR1M + 1.291%), 5.441%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 948713 |
| &nbsp;&nbsp; 780161 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-ACNT, Class B, 144a, (TSFR1M + 1.364%), 5.514%, 11/15/38<sup>(A)</sup> | &nbsp;&nbsp; 779807 |
| &nbsp;&nbsp;2520000 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-LP2, Class B, 144a, (TSFR1M + 1.312%), 5.462%, 2/15/39<sup>(A)</sup> | &nbsp;&nbsp; 2516850 |
| &nbsp;&nbsp; 655000 | &nbsp;&nbsp;BX Trust, Ser 2021-ARIA, Class A, 144a, (TSFR1M + 1.014%), 5.164%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 654386 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9% (Continued)** |
| $450000 | &nbsp;&nbsp;BX Trust, Ser 2021-ARIA, Class B, 144a, (TSFR1M + 1.411%), 5.561%, 10/15/36<sup>(A)</sup> | $449719 |
| &nbsp;&nbsp; 468312 | &nbsp;&nbsp;BX Trust, Ser 2021-RISE, Class B, 144a, (TSFR1M + 1.364%), 5.514%, 11/15/36<sup>(A)</sup> | &nbsp;&nbsp; 467727 |
| &nbsp;&nbsp;1670357 | &nbsp;&nbsp;BX Trust, Ser 2021-SDMF, Class C, 144a, (TSFR1M + 1.002%), 5.152%, 9/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1663049 |
| &nbsp;&nbsp;1481282 | &nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2016-C3, Class A3, 3.865%, 1/10/48 | &nbsp;&nbsp; 1477685 |
| &nbsp;&nbsp;1100000 | &nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2016-C4, Class B, 4.147%, 5/10/58 | &nbsp;&nbsp; 1088986 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C1, Class A4, 3.209%, 5/10/49 | &nbsp;&nbsp; 992434 |
| &nbsp;&nbsp;3320000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C1, Class AS, 3.514%, 5/10/49 | &nbsp;&nbsp; 3279484 |
| &nbsp;&nbsp;1300000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class A5, 3.090%, 1/15/49 | &nbsp;&nbsp; 1289544 |
| &nbsp;&nbsp;2635000 | &nbsp;&nbsp;Eleven Madison Trust Mortgage Trust, Ser 2015-11MD, Class C, 144a, 3.673%, 9/10/35<sup>(A)(B)</sup> | &nbsp;&nbsp; 2619560 |
| &nbsp;&nbsp;2896653 | &nbsp;&nbsp;Extended Stay America Trust, Ser 2021-ESH, Class A, 144a, (TSFR1M + 1.194%), 5.344%, 7/15/38<sup>(A)</sup> | &nbsp;&nbsp; 2896653 |
| &nbsp;&nbsp; 843276 | &nbsp;&nbsp;Extended Stay America Trust, Ser 2021-ESH, Class B, 144a, (TSFR1M + 1.494%), 5.644%, 7/15/38<sup>(A)</sup> | &nbsp;&nbsp; 843276 |
| &nbsp;&nbsp; 716785 | &nbsp;&nbsp;Extended Stay America Trust, Ser 2021-ESH, Class C, 144a, (TSFR1M + 1.814%), 5.964%, 7/15/38<sup>(A)</sup> | &nbsp;&nbsp; 716785 |
| &nbsp;&nbsp; 853720 | &nbsp;&nbsp;GPMT Ltd., Ser 2021-FL3, Class A, 144a, (TSFR1M + 1.614%), 5.750%, 7/16/35<sup>(A)</sup> | &nbsp;&nbsp; 851593 |
| &nbsp;&nbsp;1946000 | &nbsp;&nbsp;GS Mortgage Securities Corp. Trust, Ser 2021-DM, Class A, 144a, (TSFR1M + 0.999%), 5.150%, 11/15/36<sup>(A)</sup> | &nbsp;&nbsp; 1944786 |
| &nbsp;&nbsp;1100000 | &nbsp;&nbsp;GS Mortgage Securities Corp. Trust, Ser 2021-DM, Class AS, 144a, (TSFR1M + 1.499%), 5.650%, 11/15/36<sup>(A)</sup> | &nbsp;&nbsp; 1094500 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Hilton USA Trust, Ser 2016-HHV, Class B, 144a, 4.333%, 11/5/38<sup>(A)(B)</sup> | &nbsp;&nbsp; 1987738 |
| &nbsp;&nbsp;1100000 | &nbsp;&nbsp;Hilton USA Trust, Ser 2016-HHV, Class C, 144a, 4.333%, 11/5/38<sup>(A)(B)</sup> | &nbsp;&nbsp; 1089595 |
| &nbsp;&nbsp;1825000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2016-JP4, Class A4, 3.648%, 12/15/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1806068 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2018-WPT, Class BFX, 144a, 4.549%, 7/5/33 | &nbsp;&nbsp; 810000 |
| &nbsp;&nbsp;1715675 | &nbsp;&nbsp;KIND Trust, Ser 2021-KIND, Class A, 144a, (TSFR1M + 1.064%), 5.220%, 8/15/38<sup>(A)</sup> | &nbsp;&nbsp; 1709358 |
| &nbsp;&nbsp; 565000 | &nbsp;&nbsp;Lstar Commercial Mortgage Trust, Ser 2016-4, Class AS, 144a, 3.188%, 3/10/49 | &nbsp;&nbsp; 561892 |
| &nbsp;&nbsp;1501836 | &nbsp;&nbsp;MF1 LLC, Ser 2022-FL9, Class A, 144a, (TSFR1M + 2.150%), 6.284%, 6/19/37<sup>(A)</sup> | &nbsp;&nbsp; 1503125 |
| &nbsp;&nbsp;1600000 | &nbsp;&nbsp;MHC Commercial Mortgage Trust, Ser 2021-MHC, Class C, 144a, (TSFR1M + 1.465%), 5.615%, 4/15/38<sup>(A)</sup> | &nbsp;&nbsp; 1600000 |
| &nbsp;&nbsp; 420711 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2015-C27, Class A4, 3.753%, 12/15/47 | &nbsp;&nbsp; 419901 |
| &nbsp;&nbsp;1090000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C29, Class A4, 3.325%, 5/15/49 | &nbsp;&nbsp; 1081889 |
| &nbsp;&nbsp;1175000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C30, Class A5, 2.860%, 9/15/49 | &nbsp;&nbsp; 1155279 |
| &nbsp;&nbsp; 923071 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2015-UBS8, Class A4, 3.809%, 12/15/48 | &nbsp;&nbsp; 920391 |
| &nbsp;&nbsp;1625000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2016-BNK2, Class A4, 3.049%, 11/15/49 | &nbsp;&nbsp; 1593923 |
| &nbsp;&nbsp;1276228 | &nbsp;&nbsp;SG Commercial Mortgage Securities Trust, Ser 2016-C5, Class A3, 2.779%, 10/10/48 | &nbsp;&nbsp; 1267085 |

---

------

Touchstone Ultra Short Income ETF (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 22.9% (Continued)** |
| $1140923 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2015-NXS3, Class D, 144a, 3.153%, 9/15/57 | $1129514 |
| &nbsp;&nbsp;1486186 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2016-NXS6, Class A3, 2.642%, 11/15/49 | &nbsp;&nbsp; 1476921 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp; $52965297 |
|  | &nbsp;&nbsp;**Commercial Paper — 7.1%** | &nbsp;&nbsp;**Commercial Paper — 7.1%** |
| &nbsp;&nbsp;8500000 | &nbsp;&nbsp;Johnson Controls International PLC, 4.200%, 10/1/25<sup>(C)</sup> | &nbsp;&nbsp; 8499007 |
| &nbsp;&nbsp;8000000 | &nbsp;&nbsp;Union Electric Co., 4.200%, 10/1/25<sup>(C)</sup> | &nbsp;&nbsp; 7999072 |
|  | &nbsp;&nbsp;**Total Commercial Paper** | &nbsp;&nbsp; $16498079 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.1%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.1%** |
| &nbsp;&nbsp; 701854 | &nbsp;&nbsp;Cascade Funding Mortgage Trust, Ser 2025-HB16, Class A, 144a, 3.000%, 3/25/35<sup>(A)(B)</sup> | &nbsp;&nbsp; 686989 |
| &nbsp;&nbsp; 112462 | &nbsp;&nbsp;CIM Trust, Ser 2018-R3, Class A1, 144a, 5.000%, 12/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 112135 |
| &nbsp;&nbsp;3293543 | &nbsp;&nbsp;GCAT Trust, Ser 2024-NQM1, Class A1, 144a, 6.007%, 1/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 3323838 |
| &nbsp;&nbsp; 349475 | &nbsp;&nbsp;Metlife Securitization Trust, Ser 2019-1A, Class A1A, 144a, 3.750%, 4/25/58<sup>(A)(B)</sup> | &nbsp;&nbsp; 345383 |
| &nbsp;&nbsp; 285370 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-1, Class M2, 144a, 3.250%, 11/25/58<sup>(A)(B)</sup> | &nbsp;&nbsp; 282479 |
| &nbsp;&nbsp; 619970 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-2, Class M1, 144a, 3.250%, 7/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 615867 |
| &nbsp;&nbsp; 871060 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-3, Class M1, 144a, 3.250%, 1/25/61<sup>(A)(B)</sup> | &nbsp;&nbsp; 860167 |
| &nbsp;&nbsp; 421111 | &nbsp;&nbsp;Mill City Mortgage Trust, Ser 2015-1, Class M3, 144a, 3.793%, 6/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 417536 |
| &nbsp;&nbsp;1282175 | &nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2024-NQM1, Class A1, 144a, 6.129%, 3/25/64<sup>(A)(B)</sup> | &nbsp;&nbsp; 1294867 |
| &nbsp;&nbsp;1474063 | &nbsp;&nbsp;OBX Trust, Ser 2024-NQM2, Class A1, 144a, 5.878%, 12/25/63<sup>(A)(B)</sup> | &nbsp;&nbsp; 1486235 |
| &nbsp;&nbsp;1893335 | &nbsp;&nbsp;PRPM Trust, Ser 2023-NQM1, Class A1, 144a, 6.234%, 1/25/68<sup>(A)(B)</sup> | &nbsp;&nbsp; 1891857 |
| &nbsp;&nbsp; 797640 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2023-5, Class A10, 144a, 5.936%, 12/25/53<sup>(A)(B)</sup> | &nbsp;&nbsp; 799367 |
| &nbsp;&nbsp; 300351 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2015-2, Class 1B1, 144a, 3.705%, 11/25/60<sup>(A)(B)</sup> | &nbsp;&nbsp; 297820 |
| &nbsp;&nbsp; 547088 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2016-1, Class M2, 144a, 3.500%, 2/25/55<sup>(A)(B)</sup> | &nbsp;&nbsp; 541006 |
| &nbsp;&nbsp; 758970 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2016-3, Class M2, 144a, 4.000%, 4/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 755029 |
| &nbsp;&nbsp; 233239 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-1, Class A2, 144a, 3.500%, 10/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 232045 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-2, Class M1, 144a, 3.750%, 4/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 296327 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $14238947 |
|  | &nbsp;&nbsp;**Total Investment Securities—103.7%<br> (Cost $240,015,329)** | $240398721 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (3.7%)** | &nbsp;&nbsp;&nbsp; (8568325) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $231830396 |

---

*(A)* *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* 

*(B)* *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* 

*(C)* *Rate reflects yield at the time of purchase.* 

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *DAC – Designated Activity Company* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *SOFR – Secured Overnight Financing Rate* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $159,188,292 or 68.7% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

#### Other Information:
*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Asset-Backed Securities* | *$—* | *$98879943* | *$—* | *$98879943* |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*57816455* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*57816455* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*52965297* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*52965297* |
| *Commercial Paper* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*16498079* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*16498079* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14238947* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14238947* |
| *Total* | *$—* | *$240398721* | *$—* | *$240398721* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone US Large Cap Focused ETF – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.4%** |  |
|  | &nbsp;&nbsp;**Information Technology — 32.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;15091 | &nbsp;&nbsp;Apple, Inc. | $3842621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 603983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9575 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 4959371 |
| &nbsp;&nbsp;&nbsp;&nbsp;18123 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 3381389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6946 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 1953493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 859125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 740800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 626380 |
|  |  | &nbsp;&nbsp;16967162 |
|  | &nbsp;&nbsp;**Communication Services — 16.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14750 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 3592362 |
| &nbsp;&nbsp;&nbsp;&nbsp;13198 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 414681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4949 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 3634447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 447197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3637 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 416437 |
|  |  | &nbsp;&nbsp; 8505124 |
|  | &nbsp;&nbsp;**Financials — 14.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;31545 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 1627406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 938113 |
| &nbsp;&nbsp;&nbsp;&nbsp;10751 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 1026398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 1384853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 377936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 873491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217 | &nbsp;&nbsp;PayPal Holdings, Inc.\* | &nbsp;&nbsp; 282792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 1204730 |
|  |  | &nbsp;&nbsp; 7715719 |
|  | &nbsp;&nbsp;**Health Care — 10.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3962 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 741567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5604 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 303513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9815 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 442656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171 | &nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp; 365973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 713033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6035 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 1119010 |
| &nbsp;&nbsp;&nbsp;&nbsp;10448 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 995067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 669537 |
|  |  | &nbsp;&nbsp; 5350356 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 8.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 742241 |
| &nbsp;&nbsp;&nbsp;&nbsp;12748 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 2799078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5582 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 300256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4559 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 385691 |
|  |  | &nbsp;&nbsp; 4227266 |
|  | &nbsp;&nbsp;**Industrials — 7.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3989 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 860946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 451315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 481947 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 96.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 7.3% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp;RTX Corp. | $586157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7276 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp; 645818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4087 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 303787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5412 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 530214 |
|  |  | &nbsp;&nbsp; 3860184 |
|  | &nbsp;&nbsp;**Consumer Staples — 3.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9980 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 671754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7493 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 1215364 |
|  |  | &nbsp;&nbsp; 1887118 |
|  | &nbsp;&nbsp;**Energy — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8893 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 1002686 |
|  | &nbsp;&nbsp;**Real Estate — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp; 710503 |
|  | &nbsp;&nbsp;**Materials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4313 | &nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp; 335983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4295 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 264314 |
|  |  | &nbsp;&nbsp; 600297 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $50826415 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 3.7%** |  |
| 1947189 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 1947189 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $42,436,068)** | $52773604 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (55295) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $52718309 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *PLC – Public Limited Company* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$50826415* | *$—* | *$—* | *$50826415* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*1947189* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1947189* |
| *Total* | *$52773604* | *$—* | *$—* | *$52773604* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Notes to Portfolios of Investments

September 30, 2025 (Unaudited)

**Security valuation and fair value measurements — U.S. generally accepted accounting principles ("U.S. GAAP") defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. All investments in securities are recorded at their fair value. The Funds define the term "market value", as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:**

• Level 1 - quoted prices in active markets for identical securities

• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 - significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The aggregate value by input level, as of September 30, 2025, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Funds did not hold or transfer any Level 3 categorized securities during the period ended September 30, 2025.

Changes in valuation techniques may result in transfers into or out of an investment's assigned level within the hierarchy.

The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange ("NYSE") (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price ("NOCP") or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value ("NAV") as reported by the underlying funds and are categorized in Level 1.

Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities' terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.

Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund's NAV. The Funds may use fair value pricing under the following circumstances, among others:

• If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.

• If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.

• If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.

• If the validity of market quotations is not reliable.

Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures established by Touchstone Advisors, Inc. and adopted by the Funds' Board of Trustees and are generally categorized in Level 3.

------

Notes to Portfolios of Investments (Unaudited) (Continued)

Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.

#### Security transactions —Security transactions are reflected for financial reporting purposes as of the trade date.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Touchstone ETF Trust

- **b. Investment Company Act file number:** 811-23789

- **c. CIK number of Registrant:** 0001919700

- **d. LEI of Registrant:** 549300OBA9Z9MIVJ9W43

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

  - **Street Address 1:** 303 Broadway

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45202

  - **Telephone number:** 8006388194

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

- **a. Name of Series:** Touchstone ETF Trust-Touchstone International Equity ETF

- **b. EDGAR series identifier (if any):** S000089352

- **c. LEI of Series:** 529900JS5LQQ64O95O59

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $102981664.45

**Total Liabilities:** $61543.69

**Net Assets:** $102920120.76

**Cash Not Reported:** $435873.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255873 | -4.55%               | 2.40%                | 1.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-0.01                   | $-2041414.53                               |
| Month 2  | $-68150.97               | $1073696.31                                |
| Month 3  | $133646.08               | $1082244.65                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CRH PLC                                      | CRH PLC ORD EUR 0.32                                                  | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |     36556 | NS      | $4383064.40   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                            | Compass Group PLC ORD GBP0.1105                                       | CUSIP: G23296208<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    143509 | NS      | $4881102.88   | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     13334 | NS      | $3724052.86   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                              | BAE Systems PLC ORD GBP0.025                                          | CUSIP: G06940103<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    225909 | NS      | $6255757.04   | 6.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                   | Diageo PLC ORD GBP0.28 101/108                                        | CUSIP: G42089113<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     76868 | NS      | $1835507.87   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Kone Oyj                                     | Kone Oyj SER'B'NPV                                                    | CUSIP: X4551T105<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |     37803 | NS      | $2574191.50   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Relx PLC                                     | Relx PLC ORD GBP0.1444                                                | CUSIP: G7493L105<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |     83262 | NS      | $3983095.30   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                 | Unilever PLC ORD GBP0.031111                                          | CUSIP: G92087165<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     51440 | NS      | $3043992.86   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson Public Limited Company  | Willis Towers Watson Public Limited Company COM USD0.000304635        | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      9979 | NS      | $3447245.55   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Music Group N.V                    | Universal Music Group N.V EUR10.00                                    | CUSIP: N90313102<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | EC               | CORP              | NL        |    127626 | NS      | $3680053.34   | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management Funds     | Dreyfus Government Cash Management Funds SH BEN INT                   | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |   3144599 | NS      | $3144598.80   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Icon PLC                                     | Icon PLC ORD EUR0.06                                                  | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     13645 | NS      | $2387875.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| InterContinental Hotels Group PLC            | InterContinental Hotels Group PLC ORD GBP0.208521303                  | CUSIP: G4804L163<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |     27432 | NS      | $3310804.45   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.               | Air Products & Chemicals, Inc. COM USD1                               | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     11289 | NS      | $3078736.08   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                   | Allianz SE NPV(REGD)(VINKULIERT)                                      | CUSIP: D03080112<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      8871 | NS      | $3722320.12   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide S.A.(L')                         | Air Liquide S.A.(L') EUR5.50                                          | CUSIP: F01764103<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     10534 | NS      | $2187305.92   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                     | Alcon AG CHF0.04                                                      | CUSIP: H01301128<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |     27371 | NS      | $2037567.31   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Company            | Canadian National Railway Company COM NPV                             | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     29551 | NS      | $2786716.42   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd.                             | Nintendo Co Ltd. NPV                                                  | CUSIP: J51699106<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     69000 | NS      | $5974541.03   | 5.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                    | Nestle SA CHF0.10 (REGD)                                              | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     31813 | NS      | $2920138.07   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC              | London Stock Exchange Group PLC ORD GBP0.06918604                     | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     24961 | NS      | $2858825.36   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                        | NXP Semiconductors NV EUR0.20                                         | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      7321 | NS      | $1667211.33   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Coloplast AS                                 | Coloplast AS SER'B'DKK1                                               | CUSIP: K16018192<br>LEI: 529900NN7SOJ5QG82X67 | Long             | EC               | CORP              | DK        |     21195 | NS      | $1810128.11   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                            | ASML Holding N.V. EUR0.09                                             | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      3904 | NS      | $3795589.06   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa            | Compagnie Financiere Richemont Sa CHF1 (REGD)                         | CUSIP: H25662182<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     12156 | NS      | $2314992.27   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Burford Capital Limited                      | Burford Capital Limited ORD NPV (DI)                                  | CUSIP: G17977110<br>LEI: 549300FUKUWFYJMT2277 | Long             | EC               | CORP              | GG        |    103447 | NS      | $1237226.12   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                                | Assa Abloy AB SER'B'NPV                                               | CUSIP: W0817X204<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |     66577 | NS      | $2309658.42   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                       | SAP SE ORD NPV                                                        | CUSIP: D66992104<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     19496 | NS      | $5216466.64   | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                             | Roche Holding AG GENUSSCHEINE NPV                                     | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |     10369 | NS      | $3385344.01   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.             | Philip Morris International Inc. COM NPV                              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     22777 | NS      | $3694429.40   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                    | Safran SA EUR0.20                                                     | CUSIP: F4035A557<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     13639 | NS      | $4805461.67   | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Touchstone ETF Trust

**Signature:** Terri Lucas

**Name of Signer:** Terri Lucas

**Title:** Controller & Treasurer