# EDGAR Filing Document

**Accession Number:** 0001655589
**File Stem:** 0001752724-23-045356
**Filing Date:** 2023-2
**Character Count:** 1325264
**Document Hash:** aa120d8ae90d64fb95871a43d4ac60e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045356.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045356

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Templeton ETF Trust
- **CENTRAL INDEX KEY:** 0001655589
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23124
- **FILM NUMBER:** 23680784

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

## Series and Classes Contracts Data

### Franklin U.S. Treasury Bond ETF (Series ID: S000068596)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000219501 | Franklin U.S. Treasury Bond ETF | FLGV            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**BrandywineGLOBAL-Dynamic US Large Cap Value ETF** | **Country** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;**Common Stocks 98.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Air Freight & Logistics 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | United States | 1214 | $111154 |
| &nbsp;&nbsp;&nbsp;**Banks 7.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank OZK | United States | 582 | 23315 |
| &nbsp;&nbsp;&nbsp;BOK Financial Corp. | United States | 3099 | 321645 |
| &nbsp;&nbsp;&nbsp;Comerica Inc. | United States | 7761 | 518823 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares Inc. | United States | 2752 | 187329 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | United States | 41037 | 1346424 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | United States | 880 | 42583 |
| &nbsp;&nbsp;&nbsp;KeyCorp | United States | 55617 | 968848 |
| &nbsp;&nbsp;&nbsp;Popular Inc. | Puerto Rico | 4439 | 294395 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | United States | 48266 | 1040615 |
| &nbsp;&nbsp;&nbsp;Synovus Financial Corp. | United States | 8555 | 321240 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | United States | 6522 | 280642 |
| &nbsp;&nbsp;&nbsp;US Bancorp | United States | 15486 | 675344 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | United States | 123685 | 5106954 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | United States | 8940 | 439490 |
|  |  |  | 11567647 |
| &nbsp;&nbsp;&nbsp;**Biotechnology 1.2%** |  |  |  |
| <sup>a</sup> Regeneron Pharmaceuticals Inc. | United States | 2629 | 1896797 |
| &nbsp;&nbsp;&nbsp;**Building Products 1.0%** |  |  |  |
| <sup>a</sup> Builders FirstSource Inc. | United States | 21002 | 1362610 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | United States | 3669 | 209536 |
| &nbsp;&nbsp;&nbsp;Masterbrand Inc. | United States | 3669 | 27701 |
|  |  |  | 1599847 |
| &nbsp;&nbsp;&nbsp;**Capital Markets 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | United States | 6472 | 2015187 |
| &nbsp;&nbsp;&nbsp;Blackstone Inc. | United States | 8257 | 612587 |
|  |  |  | 2627774 |
| &nbsp;&nbsp;&nbsp;**Chemicals 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | United States | 6509 | 530093 |
| &nbsp;&nbsp;&nbsp;Huntsman Corp. | United States | 26904 | 739322 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, A | United States | 12484 | 1036547 |
| &nbsp;&nbsp;&nbsp;Olin Corp. | United States | 3596 | 190372 |
|  |  |  | 2496334 |
| &nbsp;&nbsp;&nbsp;**Communications Equipment 4.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | United States | 149211 | 7108412 |
| &nbsp;&nbsp;&nbsp;**Construction Materials 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Eagle Materials Inc. | United States | 4848 | 644057 |
| &nbsp;&nbsp;&nbsp;**Consumer Finance 6.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | United States | 18360 | 448902 |
| &nbsp;&nbsp;&nbsp;American Express Co. | United States | 33239 | 4911062 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | United States | 22763 | 2116049 |
| <sup>a</sup> Credit Acceptance Corp. | United States | 744 | 352954 |
| &nbsp;&nbsp;&nbsp;Discover Financial Services | United States | 16278 | 1592477 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings Inc. | United States | 3212 | 106992 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | United States | 6584 | 109294 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | United States | 28033 | 921164 |
|  |  |  | 10558894 |
| &nbsp;&nbsp;&nbsp;**Containers & Packaging 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;International Paper Co. | United States | 9459 | 327565 |
| &nbsp;&nbsp;&nbsp;**Distributors 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | United States | 36314 | 1939531 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;**Diversified Consumer Services 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Service Corp. International | United States | 19056 | 1317532 |
| &nbsp;&nbsp;&nbsp;**Diversified Financial Services 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | United States | 4376 | 125591 |
| &nbsp;&nbsp;&nbsp;Voya Financial Inc. | United States | 993 | 61060 |
|  |  |  | 186651 |
| &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;AT&T Inc. | United States | 227357 | 4185642 |
| &nbsp;&nbsp;&nbsp;**Electric Utilities 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | United States | 4201 | 398885 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | United States | 6310 | 649867 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | United States | 10228 | 442156 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Inc. | United States | 12807 | 1070665 |
| &nbsp;&nbsp;&nbsp;The Southern Co. | United States | 8877 | 633907 |
|  |  |  | 3195480 |
| &nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components 1.4%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Arrow Electronics Inc. | United States | 2926 | 305972 |
| &nbsp;&nbsp;&nbsp;Corning Inc. | United States | 22527 | 719512 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | United States | 18076 | 1232783 |
|  |  |  | 2258267 |
| &nbsp;&nbsp;&nbsp;**Food & Staples Retailing 4.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;The Kroger Co. | United States | 85100 | 3793758 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | United States | 27512 | 1027848 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | United States | 10924 | 1548914 |
|  |  |  | 6370520 |
| &nbsp;&nbsp;&nbsp;**Food Products 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc., A | United States | 5814 | 387503 |
| &nbsp;&nbsp;<sup>a</sup> Pilgrim's Pride Corp. | United States | 4303 | 102110 |
| &nbsp;&nbsp;&nbsp;Tyson Foods Inc., A | United States | 35000 | 2178750 |
|  |  |  | 2668363 |
| &nbsp;&nbsp;&nbsp;**Health Care Providers & Services 4.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cigna Corp. | United States | 3000 | 994020 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | United States | 7835 | 730144 |
| &nbsp;&nbsp;<sup>a</sup> DaVita Inc. | United States | 11704 | 873938 |
| &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | United States | 11518 | 2712258 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | United States | 14642 | 2290594 |
|  |  |  | 7600954 |
| &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;MGM Resorts International | United States | 53287 | 1786713 |
| &nbsp;&nbsp;&nbsp;**Household Durables 1.9%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> NVR Inc. | United States | 397 | 1831194 |
| &nbsp;&nbsp;&nbsp;PulteGroup Inc. | United States | 26532 | 1208002 |
|  |  |  | 3039196 |
| &nbsp;&nbsp;&nbsp;**Household Products 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;The Procter & Gamble Co. | United States | 11283 | 1710052 |
| &nbsp;&nbsp;&nbsp;**Industrial Conglomerates 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;3M Co. | United States | 17988 | 2157121 |
| &nbsp;&nbsp;&nbsp;**Insurance 13.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | United States | 37738 | 2714872 |
| &nbsp;&nbsp;&nbsp;American Financial Group Inc. | United States | 5008 | 687498 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | United States | 45848 | 2899427 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings Ltd. | United States | 2665 | 144363 |
| &nbsp;&nbsp;&nbsp;Chubb Ltd. | United States | 24597 | 5426098 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. | United States | 12584 | 532052 |
| &nbsp;&nbsp;<sup>a</sup> F&G Annuities & Life Inc. | United States | 1041 | 20830 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | United States | 16539 | 622197 |
| &nbsp;&nbsp;&nbsp;First American Financial Corp. | United States | 4959 | 259554 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Hanover Insurance Group Inc. | &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;&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;&nbsp;&nbsp;United States | 2083 | 281476 |
| Hartford Financial Services Group Inc. | &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;&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;&nbsp;&nbsp;United States | 19204 | 1456239 |
| Loews Corp. | &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;&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;&nbsp;&nbsp;United States | 8281 | 483031 |
| Old Republic International Corp. | &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;&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;&nbsp;&nbsp;United States | 18287 | 441631 |
| Principal Financial Group Inc. | &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;&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;&nbsp;&nbsp;United States | 14829 | 1244450 |
| The Travelers Companies Inc. | &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;&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;&nbsp;&nbsp;United States | 14085 | 2640797 |
| Unum Group | &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;&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;&nbsp;&nbsp;United States | 6311 | 258940 |
| W R Berkley Corp. | &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;&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;&nbsp;&nbsp;United States | 3856 | 279830 |
|  |  |  | 20393285 |
| **IT Services 0.3%** |  |  |  |
| <sup>a</sup> DXC Technology Co. | &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;&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;&nbsp;&nbsp;United States | 2368 | 62752 |
| <sup>a</sup> FleetCor Technologies Inc. | &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;&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;&nbsp;&nbsp;United States | 1958 | 359645 |
|  |  |  | 422397 |
| **Leisure Products 0.1%** |  |  |  |
| Polaris Inc. | &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;&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;&nbsp;&nbsp;United States | 2084 | 210484 |
| **Machinery 2.9%** |  |  |  |
| AGCO Corp. | &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;&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;&nbsp;&nbsp;United States | 1251 | 173501 |
| Caterpillar Inc. | &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;&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;&nbsp;&nbsp;United States | 17419 | 4172896 |
| Crane Holdings Co. | &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;&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;&nbsp;&nbsp;United States | 2132 | 214159 |
|  |  |  | 4560556 |
| **Media 2.5%** |  |  |  |
| <sup>a</sup> Charter Communications Inc., A | &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;&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;&nbsp;&nbsp;United States | 557 | 188879 |
| Nexstar Media Group Inc. | &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;&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;&nbsp;&nbsp;United States | 4735 | 828767 |
| Omnicom Group Inc. | &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;&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;&nbsp;&nbsp;United States | 26433 | 2156140 |
| <sup>a</sup> The Walt Disney Co. | &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;&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;&nbsp;&nbsp;United States | 9187 | 798166 |
|  |  |  | 3971952 |
| **Metals & Mining 3.4%** |  |  |  |
| Nucor Corp. | &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;&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;&nbsp;&nbsp;United States | 4760 | 627416 |
| Southern Copper Corp. | &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;&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;&nbsp;&nbsp;United States | 78841 | 4761208 |
|  |  |  | 5388624 |
| **Multiline Retail 1.5%** |  |  |  |
| Dillard's Inc., A | &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;&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;&nbsp;&nbsp;United States | 235 | 75952 |
| Macy's Inc. | &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;&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;&nbsp;&nbsp;United States | 7810 | 161276 |
| Target Corp. | &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;&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;&nbsp;&nbsp;United States | 14345 | 2137979 |
|  |  |  | 2375207 |
| **Multi-Utilities 0.3%** |  |  |  |
| Dominion Energy Inc. | &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;&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;&nbsp;&nbsp;United States | 6707 | 411273 |
| **Oil, Gas & Consumable Fuels 3.9%** |  |  |  |
| Chevron Corp. | &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;&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;&nbsp;&nbsp;United States | 6831 | 1226096 |
| ConocoPhillips | &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;&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;&nbsp;&nbsp;United States | 8095 | 955210 |
| Exxon Mobil Corp. | &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;&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;&nbsp;&nbsp;United States | 12435 | 1371581 |
| Marathon Oil Corp. | &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;&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;&nbsp;&nbsp;United States | 5381 | 145664 |
| Marathon Petroleum Corp. | &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;&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;&nbsp;&nbsp;United States | 10290 | 1197653 |
| Pioneer Natural Resources Co. | &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;&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;&nbsp;&nbsp;United States | 5518 | 1260256 |
|  |  |  | 6156460 |
| **Paper & Forest Products 0.1%** |  |  |  |
| Louisiana-Pacific Corp. | &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;&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;&nbsp;&nbsp;United States | 2789 | 165109 |
| **Pharmaceuticals 3.6%** |  |  |  |
| Bristol-Myers Squibb Co. | &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;&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;&nbsp;&nbsp;United States | 11493 | 826921 |
| Johnson & Johnson | &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;&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;&nbsp;&nbsp;United States | 13935 | 2461618 |
| Merck & Co. Inc. | &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;&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;&nbsp;&nbsp;United States | 7327 | 812931 |
| Pfizer Inc. | &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;&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;&nbsp;&nbsp;United States | 30959 | 1586339 |
|  |  |  | 5687809 |
| **Professional Services 0.1%** |  |  |  |
| ManpowerGroup Inc. | &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;&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;&nbsp;&nbsp;United States | 1339 | 111418 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;**Road & Rail 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | United States | 15374 | 3183494 |
| &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment 9.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Applied Materials Inc. | United States | 60974 | 5937648 |
| &nbsp;&nbsp;&nbsp;Broadcom Inc. | United States | 5232 | 2925368 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | United States | 4524 | 1705684 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | United States | 79595 | 3978158 |
| &nbsp;&nbsp;&nbsp;Teradyne Inc. | United States | 4476 | 390979 |
|  |  |  | 14937837 |
| &nbsp;&nbsp;&nbsp;**Specialty Retail 5.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | United States | 7326 | 1077142 |
| <sup>a</sup> AutoNation Inc. | United States | 7327 | 786187 |
| &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | United States | 5666 | 454470 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods Inc. | United States | 7227 | 869336 |
| &nbsp;&nbsp;&nbsp;Murphy USA Inc. | United States | 2826 | 789980 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group Inc. | United States | 8853 | 1017475 |
| <sup>a</sup> Ulta Beauty Inc. | United States | 6212 | 2913863 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma Inc. | United States | 8778 | 1008768 |
|  |  |  | 8917221 |
| &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods 0.4%** |  |  |  |
| <sup>a</sup> Capri Holdings Ltd. | United States | 3942 | 225955 |
| &nbsp;&nbsp;&nbsp;Tapestry Inc. | United States | 9944 | 378668 |
|  |  |  | 604623 |
| &nbsp;&nbsp;&nbsp;**Thrifts & Mortgage Finance 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;Essent Group Ltd. | United States | 1550 | 60264 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $143,815,685)** |  |  | 154912516 |
| &nbsp;&nbsp;&nbsp;**Total Investments before Short-Term Investments** |  |  |  |
| **(Cost $143,815,685)** |  |  | 154912516 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money Market Funds 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;SSC Government Money Market, 4.12% | United States | 2583153 | 2583153 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (Cost $2,583,153)** |  |  | 2583153 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $146,398,838) 100.0%** |  |  | 157495669 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | 34596 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $157530265 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br><sup>a</sup>Non-income producing.

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**ClearBridge Sustainable Infrastructure ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp;**Common Stocks 94.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Australia 3.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Transurban Group | Transportation Infrastructure | 10632 | $93587 |
| &nbsp;&nbsp;&nbsp;**Brazil 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Auren Energia SA | Independent Power Producers & Energy Traders | 13496 | 37652 |
| &nbsp;&nbsp;&nbsp;CCR SA | Transportation Infrastructure | 17546 | 35958 |
| &nbsp;&nbsp;&nbsp;Neoenergia SA | Electric Utilities | 11474 | 33576 |
|  |  |  | 107186 |
| &nbsp;&nbsp;&nbsp;**Canada 6.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Renewable Corp. | Independent Power Producers & Energy Traders | 1906 | 52491 |
| <sup>a</sup> Hydro One Ltd., 144A | Electric Utilities | 3660 | 97973 |
|  |  |  | 150464 |
| &nbsp;&nbsp;&nbsp;**France 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Getlink SE | Transportation Infrastructure | 5436 | 86879 |
| &nbsp;&nbsp;&nbsp;**Italy 7.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Enav SpA | Transportation Infrastructure | 14342 | 60614 |
| &nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | Electric Utilities | 14718 | 108383 |
|  |  |  | 168997 |
| &nbsp;&nbsp;&nbsp;**Japan 9.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Central Japan Railway Co. | Road & Rail | 594 | 72953 |
| &nbsp;&nbsp;&nbsp;East Japan Railway Co. | Road & Rail | 1507 | 85889 |
| &nbsp;&nbsp;&nbsp;West Japan Railway Co. | Road & Rail | 1442 | 62611 |
|  |  |  | 221453 |
| &nbsp;&nbsp;&nbsp;**Portugal 5.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;EDP - Energias de Portugal SA | Electric Utilities | 25510 | 126762 |
| &nbsp;&nbsp;&nbsp;**Spain 12.6%** |  |  |  |
| <sup>a</sup> Cellnex Telecom SA, 144A | Diversified Telecommunication Services | 2052 | 67715 |
| &nbsp;&nbsp;&nbsp;Ferrovial SA | Construction & Engineering | 2799 | 73097 |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | Electric Utilities | 10280 | 119917 |
| &nbsp;&nbsp;&nbsp;Red Electrica Corp. SA | Electric Utilities | 2486 | 43141 |
|  |  |  | 303870 |
| &nbsp;&nbsp;&nbsp;**United Kingdom 16.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;National Grid PLC | Multi-Utilities | 7248 | 86960 |
| &nbsp;&nbsp;&nbsp;Pennon Group PLC | Water Utilities | 6476 | 69214 |
| &nbsp;&nbsp;&nbsp;Severn Trent PLC | Water Utilities | 2268 | 72324 |
| &nbsp;&nbsp;&nbsp;SSE PLC | Electric Utilities | 5276 | 108652 |
| &nbsp;&nbsp;&nbsp;United Utilities Group PLC | Water Utilities | 4544 | 54190 |
|  |  |  | 391340 |
| &nbsp;&nbsp;&nbsp;**United States 25.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | Equity Real Estate Investment Trusts (REITs) | 296 | 62711 |
| &nbsp;&nbsp;&nbsp;American Water Works Co. Inc. | Water Utilities | 514 | 78344 |
| &nbsp;&nbsp;&nbsp;Clearway Energy Inc., C | Independent Power Producers & Energy Traders | 2066 | 65843 |
| &nbsp;&nbsp;&nbsp;Crown Castle Inc. | Equity Real Estate Investment Trusts (REITs) | 330 | 44761 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | Road & Rail | 2276 | 70510 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | Electric Utilities | 1398 | 60435 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Inc. | Electric Utilities | 830 | 69388 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Partners LP | Independent Power Producers & Energy Traders | 830 | 58175 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group Inc. | Multi-Utilities | 1780 | 109061 |
|  |  |  | 619228 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $2,356,114) 94.1%** |  |  | 2269766 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 5.9%** |  |  | 142046 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $2411812 |

---

<sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $165,688, representing 6.9% of net assets.

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin Disruptive Commerce ETF** | **Country** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 98.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Air Freight & Logistics 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; United Parcel Service Inc., B | United States | 483 | $83965 |
| &nbsp;&nbsp; <sup>a</sup> XPO Inc. | United States | 897 | 29861 |
|  |  |  | 113826 |
| &nbsp;&nbsp;&nbsp; **Commercial Services & Supplies 3.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Copart Inc. | United States | 5016 | 305424 |
| &nbsp;&nbsp;&nbsp; **Containers & Packaging 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | United States | 1018 | 22650 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | United States | 705 | 90177 |
|  |  |  | 112827 |
| &nbsp;&nbsp;&nbsp; **Entertainment 2.6%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Netflix Inc. | United States | 317 | 93477 |
| &nbsp;&nbsp; <sup>a</sup> ROBLOX Corp., A | United States | 1025 | 29172 |
| &nbsp;&nbsp; <sup>a</sup> Sea Ltd., ADR | Taiwan | 1846 | 96047 |
|  |  |  | 218696 |
| &nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Prologis Inc. | United States | 1531 | 172590 |
| &nbsp;&nbsp;&nbsp; **Food & Staples Retailing 5.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | United States | 910 | 415415 |
| &nbsp;&nbsp;&nbsp; **Food Products 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Freshpet Inc. | United States | 556 | 29340 |
| &nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure 5.8%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Airbnb Inc., A | United States | 2217 | 189554 |
| &nbsp;&nbsp; <sup>a</sup> Booking Holdings Inc. | United States | 141 | 284154 |
| &nbsp;&nbsp; <sup>a</sup> Vacasa Inc., A | United States | 5678 | 7154 |
|  |  |  | 480862 |
| &nbsp;&nbsp;&nbsp; **Interactive Media & Services 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Shutterstock Inc. | United States | 847 | 44654 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | China | 2718 | 116312 |
| &nbsp;&nbsp; <sup>a</sup> ZoomInfo Technologies Inc., A | United States | 2767 | 83315 |
|  |  |  | 244281 |
| &nbsp;&nbsp;&nbsp; **Internet & Direct Marketing Retail 25.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alibaba Group Holding Ltd., A | China | 9962 | 110087 |
| &nbsp;&nbsp; <sup>a</sup> Amazon.com Inc. | United States | 7218 | 606312 |
| &nbsp;&nbsp; <sup>a</sup> Chewy Inc., A | United States | 1302 | 48278 |
| &nbsp;&nbsp; <sup>a</sup> DoorDash Inc., A | United States | 5220 | 254840 |
| &nbsp;&nbsp;&nbsp; eBay Inc. | United States | 2480 | 102846 |
| &nbsp;&nbsp; <sup>a</sup> Etsy Inc. | United States | 2927 | 350596 |
| &nbsp;&nbsp; <sup>a</sup> Expedia Group Inc. | United States | 420 | 36792 |
| &nbsp;&nbsp; <sup>a</sup> Global-e Online Ltd. | Israel | 2725 | 56244 |
| &nbsp;&nbsp;&nbsp; JD.com Inc., ADR | China | 1621 | 90987 |
| &nbsp;&nbsp; <sup>a</sup> Liquidity Services Inc. | United States | 2893 | 40676 |
| &nbsp;&nbsp; <sup>a</sup> MercadoLibre Inc. | Brazil | 323 | 273335 |
| &nbsp;&nbsp; <sup>a</sup> Pinduoduo Inc., ADR | China | 1333 | 108706 |
| &nbsp;&nbsp; <sup>a</sup> Revolve Group Inc. | United States | 416 | 9260 |
| &nbsp;&nbsp;&nbsp; Zozo Inc. | Japan | 1042 | 25745 |
|  |  |  | 2114704 |
| &nbsp;&nbsp;&nbsp; **IT Services 20.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Adyen NV, ADR | Netherlands | 26101 | 360194 |
| &nbsp;&nbsp; <sup>a</sup> Block Inc. | United States | 1937 | 121721 |
| &nbsp;&nbsp; <sup>a</sup> Dlocal Ltd. | Uruguay | 3591 | 55912 |
| &nbsp;&nbsp; <sup>a</sup> International Money Express Inc. | United States | 1594 | 38846 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates Inc. | United States | 511 | 89711 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; Mastercard Inc., A | United States | 799 | 277836 |
| &nbsp;&nbsp; <sup>a</sup> PayPal Holdings Inc. | United States | 478 | 34043 |
| &nbsp;&nbsp; <sup>a</sup> Shopify Inc., A | Canada | 10286 | 357027 |
| &nbsp;&nbsp; <sup>a</sup> Toast Inc., A | United States | 4281 | 77187 |
| &nbsp;&nbsp;&nbsp; Visa Inc., A | United States | 1390 | 288786 |
|  |  |  | 1701263 |
| &nbsp;&nbsp;&nbsp; **Professional Services 3.9%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> CoStar Group Inc. | United States | 3698 | 285781 |
| &nbsp;&nbsp;&nbsp; TransUnion | United States | 654 | 37115 |
|  |  |  | 322896 |
| &nbsp;&nbsp;&nbsp; **Road & Rail 5.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line Inc. | United States | 355 | 100742 |
| &nbsp;&nbsp; <sup>a</sup> RXO Inc. | United States | 897 | 15429 |
| &nbsp;&nbsp; <sup>a</sup> Uber Technologies Inc. | United States | 12047 | 297922 |
|  |  |  | 414093 |
| &nbsp;&nbsp;&nbsp; **Software 8.8%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Bill.com Holdings Inc. | United States | 1704 | 185668 |
| &nbsp;&nbsp; <sup>a</sup> Coupa Software Inc. | United States | 660 | 52252 |
| &nbsp;&nbsp; <sup>a</sup> Descartes Systems Group Inc. | Canada | 2673 | 186175 |
| &nbsp;&nbsp; <sup>a</sup> Lightspeed Commerce Inc. | Canada | 1218 | 17394 |
| &nbsp;&nbsp; <sup>a</sup> Manhattan Associates Inc. | United States | 1450 | 176030 |
| &nbsp;&nbsp; <sup>a</sup> Sprout Social Inc., A | United States | 743 | 41950 |
| &nbsp;&nbsp; <sup>a</sup> Unity Software Inc. | United States | 2460 | 70331 |
|  |  |  | 729800 |
| &nbsp;&nbsp;&nbsp; **Specialty Retail 0.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Petco Health & Wellness Co. Inc. | United States | 3086 | 29255 |
| &nbsp;&nbsp;&nbsp; **Trading Companies & Distributors 8.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | United States | 7699 | 364316 |
| &nbsp;&nbsp;&nbsp; W.W. Grainger Inc. | United States | 667 | 371019 |
|  |  |  | 735335 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $11,336,764)** |  |  | 8140607 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $11,336,764) 98.0%** |  |  | 8140607 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 2.0%** |  |  | 168646 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $8309253 |

---

<sup>a</sup>Non-income producing.<br>**Abbreviations**<br>**Selected Portfolio**<br>**ADR** – American Depositary Receipt

------

---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)**<br> **Franklin Dynamic Municipal Bond ETF** | <br>**Principal Amount\*** | <br>**Value** |
| &nbsp;&nbsp;&nbsp; **Municipal Bonds 99.8%** |  |  |
| &nbsp;&nbsp;&nbsp; **Alabama 5.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas Project, Series 2022E, VRDN, 5.00%, 5/01/53 | 1000000 | $1050934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, VRDN, 4.00%, 6/01/51 | 1240000 | 1209310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022D-1, VRDN, 4.00%, 7/01/52 | 500000 | 496708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C-1, 5.25%, 2/01/53 | 1250000 | 1303710 |
| &nbsp;&nbsp;&nbsp; County of Mobile, Gomesa Projects, 4.00%, 11/01/45 | 100000 | 74202 |
| &nbsp;&nbsp;&nbsp; Homewood Educational Building Authority, Samford University, Refunding, Series 2019A, 4.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/01/33 | 100000 | 101105 |
| &nbsp;&nbsp;&nbsp; Southeast Energy Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cooperative District, 5.50%, 1/01/53 | 500000 | 529595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cooperative District, Series 2022B-1, VRDN, 5.00%, 5/01/53 | 500000 | 513494 |
|  |  | 5279058 |
| &nbsp;&nbsp;&nbsp; **Alaska 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Alaska Industrial Development & Export Authority, Greater Fairbanks Community Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Obligated Group, Refunding, 4.00%, 4/01/32 | 100000 | 101440 |
| &nbsp;&nbsp;&nbsp; Borough of Matanuska-Susitna, State of Alaska Department of Administration, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/01/30 | 150000 | 152586 |
|  |  | 254026 |
| &nbsp;&nbsp;&nbsp; **Arizona 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp; Arizona Industrial Development Authority, 4.00%, 7/01/29 | 250000 | 248589 |
| &nbsp;&nbsp;&nbsp; Chandler Industrial Development Authority, 5.00%, 9/01/52 | 1000000 | 1043966 |
| &nbsp;&nbsp;&nbsp; City of Phoenix Civic Improvement Corp., Wastewater Revenue, Series 2018A, 5.00%, 7/01/25 | 100000 | 105589 |
| &nbsp;&nbsp;&nbsp; Glendale Industrial Development Authority, 4.00%, 5/15/31 | 160000 | 145377 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the City of Phoenix, Downtown Phoenix Student Housing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; II LLC, Series A, 5.00%, 7/01/31 | 100000 | 103242 |
| &nbsp;&nbsp;&nbsp; La Paz County Industrial Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/28 | 100000 | 102700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 2/15/31 | 100000 | 103607 |
| &nbsp;&nbsp;&nbsp; Sierra Vista Industrial Development Authority, Georgetown Community Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 10/01/37 | 250000 | 237425 |
| &nbsp;&nbsp;&nbsp; Tempe Industrial Development Authority, Tempe Life Care Village Obligated Group, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/31 | 200000 | 174711 |
|  |  | 2265206 |
| &nbsp;&nbsp;&nbsp; **Arkansas 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Arkansas Development Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baptist Health Obligated Group, 4.00%, 12/01/34 | 100000 | 100790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baptist Memorial Health Care Obligated Group, Refunding, 5.00%, 9/01/32 | 100000 | 106438 |
|  |  | 207228 |
| &nbsp;&nbsp;&nbsp; **California 8.2%** |  |  |
| &nbsp;&nbsp;&nbsp; California Community College Financing Authority, NCCD-Napa Valley Properties LLC, Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022A, 4.25%, 7/01/32 | 500000 | 472655 |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMT, Sereis 2018A, 3.50%, 12/31/35 | 100000 | 90325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biola University, Inc., Refunding, 5.00%, 10/01/29 | 100000 | 106398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caritas Corp., Refunding Series 2021B, 3.00%, 8/15/31 | 185000 | 168034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020B, 4.00%, 9/01/30 | 50000 | 49843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A, 4.00%, 9/01/30 | 205000 | 202892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021C, 4.00%, 9/01/31 | 295000 | 292735 |
| &nbsp;&nbsp; <sup>a</sup> California Pollution Control Financing Authority, CalPlant I LLC, AMT, 7.50%, 7/01/32 | 250000 | 125000 |
| &nbsp;&nbsp;&nbsp; California School Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Classical Academy Obligated Group, Series 2020A, 3.00%, 10/01/30 | 200000 | 185803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John Adams Academies Obligated Group, Series 2022A, 4.50%, 7/01/32 | 250000 | 235587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Public Schools Obligated Group, 5.00%, 6/01/27 | 100000 | 104830 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; California Statewide Communities Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2015, 4.00%, 9/01/29 | 110000 | 110499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2015-01, 5.00%, 9/01/27 | 65000 | 67817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2016-02, 4.00%, 9/01/30 | 130000 | 129337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2018, 4.00%, 9/01/30 | 150000 | 148943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Improvement Area No. 1, 4.00%, 9/01/31 | 200000 | 197317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern California Edison Co, Refunding, 1.75%, 9/01/29 | 1500000 | 1239477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 4.00%, 9/02/28 | 250000 | 248677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 4.00%, 9/02/31 | 100000 | 98087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Series 2020B, 4.00%, 9/02/30 | 125000 | 124362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Series 2021A, 4.00%, 9/02/31 | 150000 | 147237 |
| &nbsp;&nbsp;&nbsp; City of Gardena, 2.066%, 4/01/26 | 1000000 | 910523 |
| &nbsp;&nbsp;&nbsp; County of Orange, Village of Esencia, No 2017-1, Series 2018A, 5.00%, 8/15/28 | 100000 | 107715 |
| &nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, Jefferson Anaheim Social Bonds, 2.875%, 8/01/41 | 155000 | 129047 |
| &nbsp;&nbsp;&nbsp; Elsinore Valley Municipal Water District, Community Facilities District No 2020, Series 2021A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/01/27 | 100000 | 98367 |
| &nbsp;&nbsp;&nbsp; Irvine Unified School District, Series 2020A, 5.00%, 9/01/32 | 250000 | 268825 |
| &nbsp;&nbsp;&nbsp; Marina Redevelopment Agency Successor Agency, Series 2020A, 4.00%, 9/01/32 | 135000 | 133668 |
| &nbsp;&nbsp;&nbsp; Perris Joint Powers Authority, Refunding, Series 2017B, 5.00%, 9/01/25 | 100000 | 104096 |
| &nbsp;&nbsp;&nbsp; Poway Unified School District, 5.00%, 9/01/32 | 250000 | 279721 |
| &nbsp;&nbsp;&nbsp; River Islands Public Financing Authority, Community Facilities District No 2003-, 5.00%, 9/01/32 | 500000 | 497531 |
| &nbsp;&nbsp;&nbsp; Sierra View Local Health Care District, Tulare County, Refunding, 5.00%, 7/01/30 | 100000 | 109145 |
| &nbsp;&nbsp;&nbsp; Sulphur Springs Union School District, Community Facilities District No 2014-1, 5.00%, 9/01/31 | 135000 | 145861 |
| &nbsp;&nbsp;&nbsp; Transbay Joint Powers Authority, Redevelopment Project Green Bond Subordinate Tax, 2.40%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/01/49 | 100000 | 94445 |
|  |  | 7424799 |
| &nbsp;&nbsp;&nbsp; **Colorado 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Colorado Educational & Cultural Facilities Authority, Golden View Classical Academy, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/01/32 | 200000 | 193407 |
| &nbsp;&nbsp;&nbsp; Colorado Health Facilities Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/33 | 200000 | 218629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Christian Living Neighborhoods Obligated Group, Refunding, 4.00%, 1/01/29 | 100000 | 91282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019A-1, 5.00%, 8/01/33 | 160000 | 169656 |
| &nbsp;&nbsp;&nbsp; Denver Health & Hospital Authority, Series A, 4.00%, 12/01/37 | 1000000 | 879144 |
| &nbsp;&nbsp;&nbsp; Regional Transportation District, Sales Tax Revenue, Refunding, Series 2013A, 5.00%, 11/01/27 | 100000 | 110567 |
| &nbsp;&nbsp;&nbsp; Southglenn Metropolitan District, Refunding, 5.00%, 12/01/30 | 100000 | 99083 |
| &nbsp;&nbsp;&nbsp; Southlands Metropolitan District No 1, Refunding, Series 2017A-1, 3.50%, 12/01/27 | 100000 | 91915 |
|  |  | 1853683 |
| &nbsp;&nbsp;&nbsp; **Connecticut 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp; Connecticut Housing Finance Authority, Refunding, Series 2016A-1, 2.875%, 11/15/30 | 135000 | 129072 |
| &nbsp;&nbsp;&nbsp; Connecticut State Health & Educational Facilities Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017I-1, 5.00%, 7/01/29 | 5000 | 5372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020A, 5.00%, 1/01/30 | 150000 | 150606 |
| &nbsp;&nbsp;&nbsp; Steel Point Infrastructure Improvement District, Steelpointe Harbor Project, 4.00%, 4/01/31 | 200000 | 185589 |
|  |  | 470639 |
| &nbsp;&nbsp;&nbsp; **Delaware 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp; County of Kent, CHF-Dover LLC, 5.00%, 7/01/29 | 100000 | 99616 |
| &nbsp;&nbsp;&nbsp; **District of Columbia 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp; District of Columbia, 5.50%, 2/28/35 | 200000 | 216091 |
| &nbsp;&nbsp;&nbsp; **Florida 14.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Abbott Square Community Development District, Special Assessment, Series 2022, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/15/32 | 200000 | 197952 |
| &nbsp;&nbsp;&nbsp; Artisan Lakes East Community Development District, Special Assessment, Series 2021-2, 2.30%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/26 | 195000 | 179716 |
| &nbsp;&nbsp;&nbsp; Astonia Community Development District, Assessment Area One Project, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/01/30 | 145000 | 130542 |
| &nbsp;&nbsp;&nbsp; Avalon Groves Community Development District, Assessment Area 3, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/01/26 | 120000 | 110867 |
| &nbsp;&nbsp;&nbsp; Avalon Park West Community Development District, Special Assessment, Refunding, 3.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/30 | 100000 | 89305 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| Avenir Community Development District, Assessment Area 2, Special Assessment, Series 2021A, |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 5/01/31 | 90000.0 | 76234.0 |
| Babcock Ranch Community Independent Special District, |  |  |
| &nbsp;&nbsp;&nbsp; Assessment Area 2C, Special Assessment, 3.00%, 5/01/30 | 50000.0 | 43525.0 |
| &nbsp;&nbsp;&nbsp; Assessment Area 3B, Special Assessment, 3.00%, 5/01/30 | 145000.0 | 126222.0 |
| Bannon Lakes Community Development District, Special Assessment, 3.00%, 5/01/31 | 200000.0 | 171071.0 |
| Belmond Reserve Community Development District, Special Assessment, Series 2020, 3.25%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/30 | 100000.0 | 88817.0 |
| Berry Bay Community Development District, Assessment Area 1, Special Assessment, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/31 | 100000.0 | 86373.0 |
| Black Creek Community Development District, 5.125%, 6/15/32 | 100000.0 | 99112.0 |
| Capital Projects Finance Authority, University Project, Series 2020A-1, 5.00%, 10/01/32 | 105000.0 | 105393.0 |
| Capital Trust Agency, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 7/01/31 | 125000.0 | 105774.0 |
| &nbsp;&nbsp;&nbsp; Educational Growth Fund LLC, 3.375%, 7/01/31 | 100000.0 | 88675.0 |
| &nbsp;&nbsp;&nbsp; Liza Jackson Preparatory School, Inc., 4.00%, 8/01/30 | 100000.0 | 99307.0 |
| &nbsp;&nbsp;&nbsp; Lutz Preparatory School, Inc., Refunding, 4.00%, 6/01/31 | 200000.0 | 201101.0 |
| &nbsp;&nbsp;&nbsp; WFCS Holdings II LLC, Series 2021A, 3.30%, 1/01/31 | 300000.0 | 261320.0 |
| Celebration Community Development District, Assessment Area One Project, Special |  |  |
| &nbsp;&nbsp;&nbsp; Assessment, 2.25%, 5/01/26 | 105000.0 | 96611.0 |
| Coddington Community Development District, Special Assessment, 5.00%, 5/01/32 | 275000.0 | 274352.0 |
| Coral Keys Homes Community Development District, Special Assessment, 3.125%, 5/01/30 | 165000.0 | 145282.0 |
| Cordoba Ranch Community Development District, Special Assessment, Refunding, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/31 | 100000.0 | 85535.0 |
| Cordova Palms Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp; Assessment Area 1, Special Assessment, 4.80%, 5/01/27 | 135000.0 | 133746.0 |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.80%, 5/01/31 | 100000.0 | 83987.0 |
| County of Osceola, Refunding, Series 2020A-2, zero cpn., 10/01/32 | 150000.0 | 93635.0 |
| Cypress Bluff Community Development District, Special Assessment, Series 2020A, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/30 | 60000.0 | 52948.0 |
| Cypress Park Estates Community Development District, Special Assessment, Series 2022, |  |  |
| &nbsp;&nbsp;&nbsp; 4.375%, 5/01/27 | 150000.0 | 146413.0 |
| DW Bayview Community Development District, Special Assessment, 3.00%, 5/01/32 | 100000.0 | 83935.0 |
| East Bonita Beach Road Community Development District, Special Assessment, 3.00%, 5/01/32 | 100000.0 | 83935.0 |
| Edgewater East Community Development District, Special Assessment, 3.10%, 5/01/31 | 100000.0 | 86582.0 |
| Enbrook Community Development District, Special Assessment, 3.00%, 5/01/30 | 100000.0 | 87405.0 |
| Entrada Community Development District, Special Assessment, 2.125%, 5/01/26 | 100000.0 | 91434.0 |
| Epperson North Community Development District, Assessment Area 2, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 5/01/31 | 85000.0 | 72804.0 |
| Florida Development Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp; Brightline Trains Florida LLC, AMT, VRDN, 6.375%, 1/01/49 | 175000.0 | 159943.0 |
| &nbsp;&nbsp;&nbsp; Brightline Trains Florida LLC, Refunding, VRDN, 7.25%, 7/01/57 | 250000.0 | 249307.0 |
| &nbsp;&nbsp;&nbsp; Glenridge on Palmer Ranch Obligated Group, Refunding, 5.00%, 6/01/31 | 200000.0 | 186182.0 |
| &nbsp;&nbsp;&nbsp; Mayflower Retirement Community, Refunding, 4.00%, 6/01/31 | 100000.0 | 87907.0 |
| &nbsp;&nbsp;&nbsp; Shands Jacksonville Medical Center Obligated Group, Refunding, 5.00%, 2/01/38 | 1400000.0 | 1391301.0 |
| Forest Lake Community Development District, Assessment Area 1 Project, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 5/01/30 | 145000.0 | 129671.0 |
| Grand Oaks Community Development District, Special Assessment, 4.00%, 5/01/30 | 150000.0 | 141925.0 |
| Hammock Reserve Community Development District, Assessment Area One Project, Special |  |  |
| &nbsp;&nbsp;&nbsp; Assessment, 3.25%, 5/01/30 | 100000.0 | 88817.0 |
| Herons Glen Recreation District, Special Assessment, Refunding, 3.00%, 5/01/32 | 100000.0 | 98061.0 |
| Hills of Minneola Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp; South Parcel Assessment Area, Special Assessment, 2.375%, 5/01/26 | 75000.0 | 69292.0 |
| &nbsp;&nbsp;&nbsp; South Parcel Assessment Area, Special Assessment, 3.50%, 5/01/31 | 100000.0 | 88884.0 |
| Holly Hill Road East Community Development District, Assessment Area 3 Project, Special |  |  |
| &nbsp;&nbsp;&nbsp; Assessment, 4.00%, 11/01/25 | 65000.0 | 64017.0 |
| Indigo Community Development District, 2021 Assessment Area, Phase A1, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 5/01/31 | 100000.0 | 83318.0 |
| Kindred Community Development District II, |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.20%, 5/01/26 | 70000.0 | 64301.0 |
| &nbsp;&nbsp;&nbsp; Special Assessment, 3.00%, 5/01/30 | 155000.0 | 135324.0 |
| Kingman Gate Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.50%, 6/15/26 | 85000.0 | 78643.0 |
| &nbsp;&nbsp;&nbsp; Special Assessment, 3.125%, 6/15/30 | 110000.0 | 96685.0 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Lakes of Sarasota Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Series 2021A-1, 3.40%, 5/01/31 | 135000 | 119414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Series 2021B-1, 3.00%, 5/01/26 | 115000 | 108853 |
| &nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northeast Sector Project, Special Assessment, Refunding, 3.20%, 5/01/30 | 100000 | 88613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 3.125%, 5/01/30 | 60000 | 52896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 3.20%, 5/01/30 | 175000 | 154606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Star Farms at Lakewood Ranch Proj-Phase 1/2, Special Assessment, 2.70%, 5/01/31 | 100000 | 83138 |
| &nbsp;&nbsp;&nbsp; Laurel Road Community Development District, Special Assessment, Series 2021A-1, 2.60%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/26 | 100000 | 92809 |
| &nbsp;&nbsp;&nbsp; Lawson Dunes Community Development District, Special Assessment, 4.375%, 5/01/27 | 200000 | 195294 |
| &nbsp;&nbsp;&nbsp; Magnolia Park Community Development District, Special Assessment, Refunding, 4.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/31 | 47000 | 44257 |
| &nbsp;&nbsp;&nbsp; Meadow View at Twin Creeks Community Development District, Phase 4, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/01/31 | 75000 | 64152 |
| &nbsp;&nbsp;&nbsp; Miami Health Facilities Authority, Miami Jewish Health Systems Obligated Group, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/01/28 | 150000 | 141535 |
| &nbsp;&nbsp;&nbsp; Mirada Community Development District, Assessment Area Four, Special Assessment, 3.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/32 | 200000 | 171528 |
| &nbsp;&nbsp;&nbsp; Mirada II Community Development District, Special Assessment, 3.125%, 5/01/31 | 100000 | 86101 |
| &nbsp;&nbsp;&nbsp; North AR-1 Pasco Community Development District, Assessment Area Two, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A, 3.25%, 5/01/31 | 100000 | 87210 |
| &nbsp;&nbsp;&nbsp; North Powerline Road Community Development District, Special Assessment, 4.75%, 5/01/27 | 280000 | 275262 |
| &nbsp;&nbsp;&nbsp; Old Hickory Community Development District, Special Assessment, 3.00%, 6/15/30 | 100000 | 87100 |
| <sup>b</sup> Orange County Health Facilities Authority, Presbyterian Retirement Communities, Inc. Obligated |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group, Refunding, Series 2023A, 5.00%, 8/01/32 | 500000 | 514464 |
| &nbsp;&nbsp;&nbsp; Palm Beach County Health Facilities Authority, Jupiter Medical Center Obligated Group, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/01/32 | 100000 | 107458 |
| &nbsp;&nbsp;&nbsp; Palm Coast Park Community Development District, 4.15%, 5/01/27 | 200000 | 196150 |
| &nbsp;&nbsp;&nbsp; Parkview at Long Lake Ranch Community Development District, Special Assessment, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/30 | 100000 | 88061 |
| &nbsp;&nbsp;&nbsp; Parrish Plantation Community Development District, Special Assessment, 3.125%, 5/01/31 | 100000 | 86973 |
| &nbsp;&nbsp;&nbsp; Pine Ridge Plantation Community Development District, Subordinate Lien, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, Series 2020A-2, 3.30%, 5/01/30 | 150000 | 133680 |
| &nbsp;&nbsp;&nbsp; Preserve at South Branch Community Development District, Special Assessment, Series 2021, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/01/31 | 100000 | 85535 |
| &nbsp;&nbsp;&nbsp; Reunion East Community Development District, Special Assessment, 2.85%, 5/01/31 | 100000 | 84552 |
| &nbsp;&nbsp;&nbsp; River Hall Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assessment Area 3, Special Assessment, Series 2020A, 3.25%, 5/01/31 | 100000 | 87210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Refunding, Series 2021A-2, 3.00%, 5/01/24 | 30000 | 29338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, Refunding, Series 2021A-2, 3.00%, 5/01/25 | 40000 | 38460 |
| &nbsp;&nbsp;&nbsp; Rivers Edge II Community Development District, Special Assessment,, 3.00%, 5/01/31 | 100000 | 85535 |
| &nbsp;&nbsp;&nbsp; Rivers Edge III Community Development District, Special Assessment,, 2.40%, 5/01/26 | 100000 | 92465 |
| &nbsp;&nbsp;&nbsp; Saddle Creek Preserve of Polk County Community Development District, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 6/15/30 | 80000 | 69953 |
| &nbsp;&nbsp;&nbsp; Sanctuary Cove Community Development District, Special Assessment, 2.125%, 5/01/26 | 135000 | 123702 |
| &nbsp;&nbsp;&nbsp; Sandmine Road Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assessment Area One, Special Assessment, 3.125%, 5/01/30 | 100000 | 88062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assessment Area Two, Special Assessment, 2.30%, 11/01/26 | 45000 | 40980 |
| &nbsp;&nbsp;&nbsp; Sandridge Community Development District, Special Assessment, Series 2021A1, 2.875%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/01/26 | 120000 | 112758 |
| &nbsp;&nbsp;&nbsp; Sawyers Landing Community Development District, Special Assessment, 3.75%, 5/01/31 | 150000 | 136031 |
| &nbsp;&nbsp;&nbsp; Shingle Creek at Bronson Community Development District, Special Assessment, 3.10%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/15/31 | 100000 | 85988 |
| &nbsp;&nbsp;&nbsp; Six Mile Creek Community Development District, Assessment Area 2, Phase 3, Special |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assessment, 3.10%, 5/01/31 | 75000 | 64654 |
| &nbsp;&nbsp;&nbsp; Stillwater Community Development District, 2021 Project, Special Assessment, 3.00%, 6/15/31 | 100000 | 85311 |
| &nbsp;&nbsp;&nbsp; Summer Woods Community Development District, Assessment Area Three Project, Special |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assessment, 3.15%, 5/01/31 | 75000 | 64905 |
| &nbsp;&nbsp;&nbsp; Sunbridge Stewardship District, Special Assessment, 4.50%, 5/01/27 | 235000 | 233619 |
| &nbsp;&nbsp;&nbsp; Tamarindo Community Development District, Special Assessment, 3.00%, 5/01/31 | 100000 | 85535 |
| &nbsp;&nbsp;&nbsp; Timber Creek Southwest Community Development District, Special Assessment, Series 2020, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 6/15/30 | 150000 | 131135 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| Tohoqua Community Development District, |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.50%, 5/01/26 | 140000.0 | 129876 |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.875%, 5/01/31 | 100000.0 | 84489 |
| Tradition Community Development District No 9, Special Assessment, 2.70%, 5/01/31 | 100000.0 | 83318 |
| Trevesta Community Development District, Special Assessment, 3.25%, 5/01/30 | 100000.0 | 88817 |
| V-Dana Community Development District, Assessment Area One-2021 Project, Special |  |  |
| &nbsp;&nbsp;&nbsp; Assessment, Series 2021P, 3.125%, 5/01/31 | 100000.0 | 86619 |
| Veranda Community Development District II, Special Assessment, Refunding, 3.10%, 5/01/31 | 100000.0 | 86205 |
| Viera Stewardship District, Village 2, Special Assessment, Series 2021, 2.80%, 5/01/31 | 130000.0 | 109183 |
| Village Community Development District No 13, Limited Offering, Special Assessment, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/29 | 100000.0 | 89425 |
| West Villages Improvement District, Unit of Development No 7, Special Assessment, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/31 | 100000.0 | 86434 |
| Windward Community Development District, Special Assessment, Series 2020A-1, 3.65%, |  |  |
| &nbsp;&nbsp;&nbsp; 5/01/30 | 100000.0 | 91237 |
| Wiregrass II Community Development District, Assessment Area Two, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 5/01/27 | 225000.0 | 220867 |
|  |  | 13055240 |
| **Georgia 4.4%** |  |  |
| Development Authority of Rockdale County, AHPC Terraces at Fieldstone LLC, Series 2021B-S, |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/01/36 | 100000.0 | 80679 |
| George L Smith II Congress Center Authority, Signia Hotel Management LLC,, 3.625%, 1/01/31 | 350000.0 | 305755 |
| Main Street Natural Gas, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; Gas Supply Revenue, , Sereis 2022C, VRDN, 4.00%, 8/01/52 | 1500000.0 | 1410881 |
| &nbsp;&nbsp;&nbsp; Series 2019A, 5.00%, 5/15/29 | 100000.0 | 103806 |
| &nbsp;&nbsp;&nbsp; Series 2022A, VRDN, 4.00%, 9/01/52 | 500000.0 | 486604 |
| &nbsp;&nbsp;&nbsp; Series 2022B, 5.00%, 12/01/52 | 1500000.0 | 1549365 |
| Municipal Electric Authority of Georgia, Refunding, Series 2019A, 5.00%, 1/01/33 | 100000.0 | 107222 |
|  |  | 4044312 |
| **Guam 0.2%** |  |  |
| Guam Government Waterworks Authority, Refunding, 5.00%, 7/01/30 | 125000.0 | 129227 |
| **Illinois 15.0%** |  |  |
| Chicago Board of Education, |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 12/01/30 | 435000.0 | 449029 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 12/01/31 | 250000.0 | 256501 |
| Chicago Park District, |  |  |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2018B, 5.00%, 1/01/29 | 770000.0 | 816831 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2020F-2, 5.00%, 1/01/31 | 100000.0 | 109106 |
| City of Berwyn, Refunding Series 2022B, 4.00%, 12/01/41 | 1000000.0 | 977577 |
| City of Chicago, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 1/01/34 | 1000000.0 | 1054478 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2021A, 5.00%, 1/01/33 | 640000.0 | 677248 |
| &nbsp;&nbsp;&nbsp; zero cpn., 1/01/31 | 875000.0 | 627229 |
| Illinois Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp; 2018 Blue Island LLC, Series A-1, 4.25%, 12/01/28 | 100000.0 | 1 |
| &nbsp;&nbsp;&nbsp; Lifespace Communities, Inc. Obligated Group, Refunding, Series 2015A, 5.00%, 5/15/24 | 245000.0 | 245049 |
| &nbsp;&nbsp;&nbsp; Refunding, 4.00%, 10/01/31 | 180000.0 | 164731 |
| &nbsp;&nbsp;&nbsp; Refunding, Monthly, VRDN, 4.21%, 11/01/34 | 395000.0 | 394231 |
| Metropolitan Pier & Exposition Authority, |  |  |
| &nbsp;&nbsp;&nbsp; McCormick Place Expansion, Refunding, 3.00%, 6/15/25 | 1000000.0 | 984417 |
| &nbsp;&nbsp;&nbsp; McCormick Project, Refunding, zero cpn., 6/15/28 | 100000.0 | 81052 |
| <sup>b</sup> McCormick Project, zero cpn., 12/15/30 | 300000.0 | 217815 |
| &nbsp;&nbsp;&nbsp; McCormick Project, zero cpn., 12/15/32 | 85000.0 | 55749 |
| Railsplitter Tobacco Settlement Authority, 5.00%, 6/01/27 | 100000.0 | 106335 |
| Southwestern Illinois Development Authority, Madison County Community Unit School District No |  |  |
| &nbsp;&nbsp;&nbsp; 7 Edwardsville, Refunding, zero cpn., 12/01/24 | 245000.0 | 228931 |
| State of Illinois, |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 6/01/31 | 980000.0 | 908090 |
| &nbsp;&nbsp;&nbsp; 5.50%, 1/01/30 | 670000.0 | 712285 |
| &nbsp;&nbsp;&nbsp; 5.50%, 5/01/30 | 175000.0 | 186030 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2016B, 5.00%, 10/01/31 | 475000.0 | 484219 |
| &nbsp;&nbsp;&nbsp; Series 2020B, 5.00%, 10/01/31 | 150000.0 | 153762 |
| &nbsp;&nbsp;&nbsp; Series 2021B, 3.00%, 12/01/41 | 500000.0 | 363702 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.00%, 3/01/31 | 325000 | 335312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 5.00%, 3/01/26 | 1000000 | 1027398 |
| &nbsp;&nbsp;&nbsp; State of Illinois Sales Tax Revenue, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/15/30 | 695000 | 743562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.00%, 6/15/27 | 495000 | 501679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, 4.00%, 6/15/30 | 625000 | 628476 |
| &nbsp;&nbsp;&nbsp; Upper Illinois River Valley Development Authority, Refunding, 3.50%, 12/01/32 | 125000 | 107951 |
| &nbsp;&nbsp;&nbsp; Village of Villa Park, Garden Station Redevelopment Area, 12/31/38 | 100000 | 70709 |
|  |  | 13669485 |
| &nbsp;&nbsp;&nbsp; **Indiana 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp; City of Goshen, Green Oaks of Goshen LLC, 4.75%, 8/01/24 | 130000 | 123459 |
| &nbsp;&nbsp;&nbsp; City of Jeffersonville, Vivera Senior Living of Columbus LLC, Series 2020A, 4.75%, 11/01/30 | 100000 | 87432 |
| &nbsp;&nbsp;&nbsp; Indiana Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Valley Electric Corp., Series 2012C, 3.00%, 11/01/30 | 150000 | 132928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Evansville, 7.00%, 9/01/32 | 180000 | 167200 |
| &nbsp;&nbsp;&nbsp; Indiana Housing & Community Development Authority, Vita of Marion LLC, Series 2021A, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/01/31 | 100000 | 87567 |
|  |  | 598586 |
| &nbsp;&nbsp;&nbsp; **Iowa 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Iowa Tobacco Settlement Authority, Refunding, Series 2021B-1, 4.00%, 6/01/49 | 710000 | 699267 |
| &nbsp;&nbsp;&nbsp; **Kentucky 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp; County of Owen, Refunding, VRDN, Series A, 2.45%, 6/01/39 | 100000 | 90994 |
| &nbsp;&nbsp;&nbsp; Kentucky Economic Development Finance Authority, 5.00%, 8/01/29 | 280000 | 305836 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Energy Authority, Kentucky Public Energy Authority, , Series 2022A2, Daily, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VRDN, 4.081%, 8/01/52 | 625000 | 589472 |
| &nbsp;&nbsp;&nbsp; Louisville/Jefferson County Metropolitan Government, Refunding, 4.00%, 5/01/29 | 100000 | 92851 |
|  |  | 1079153 |
| &nbsp;&nbsp;&nbsp; **Louisiana 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp; Lakeshore Villages Master Community Development District, 5.00%, 6/01/32 | 245000 | 243537 |
| &nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental Facilities & Community Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/32 | 1000000 | 934870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/01/44 | 185000 | 138424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/01/29 | 100000 | 96403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Patriot Services Group Obligated Group, 5.25%, 10/01/32 | 145000 | 122030 |
|  |  | 1535264 |
| &nbsp;&nbsp;&nbsp; **Maryland 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp; City of Baltimore, Harbor Point Special Taxing District, Refunding, 3.25%, 6/01/31 | 100000 | 86175 |
| &nbsp;&nbsp;&nbsp; County of Frederick, Oakdale-Lake Linganore Development District, 3.25%, 7/01/29 | 140000 | 127889 |
| &nbsp;&nbsp;&nbsp; Maryland Economic Development Corp., Ports America Chesapeake LLC, Refunding, Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017A, 5.00%, 6/01/27 | 100000 | 105204 |
| &nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adventist Healthcare Obligated Group, Refunding, 4.00%, 1/01/30 | 145000 | 145053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 5.00%, 6/01/30 | 100000 | 107374 |
|  |  | 571695 |
| &nbsp;&nbsp;&nbsp; **Massachusetts 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foxborough Regional Charter School, Refunding, 5.00%, 7/01/27 | 100000 | 101428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salem Community Corp. Obligated Group, Refunding, 5.00%, 1/01/28 | 200000 | 196282 |
|  |  | 297710 |
| &nbsp;&nbsp;&nbsp; **Michigan 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp; Grand Rapids Economic Development Corp., Refunding, 4.00%, 11/01/27 | 100000 | 92790 |
| &nbsp;&nbsp;&nbsp; Kalamazoo Economic Development Corp., Refunding, 5.00%, 8/15/31 | 110000 | 103240 |
| &nbsp;&nbsp;&nbsp; Michigan Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lawrence Technological University Obligated Group, Refunding, 4.00%, 2/01/27 | 190000 | 185069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lawrence Technological University Obligated Group, Refunding, 4.00%, 2/01/32 | 285000 | 268738 |
|  |  | 649837 |
| &nbsp;&nbsp;&nbsp; **Minnesota 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp; County of Mille Lacs, Series 2018A, 3.00%, 2/01/24 | 135000 | 134991 |
| &nbsp;&nbsp;&nbsp; Duluth Economic Development Authority, Refunding, 4.00%, 7/01/31 | 125000 | 115293 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| Housing & Redevelopment Authority of The City of St Paul Minnesota, Episcopal Homes |  |  |
| &nbsp;&nbsp;&nbsp; Obligated Group, Refunding, 4.00%, 11/01/33 | 135000.0 | 113720 |
| Minnesota Higher Education Facilities Authority, University of St Thomas/Minneapolis, Series |  |  |
| &nbsp;&nbsp;&nbsp; 2022B, 5.00%, 10/01/30 | 250000.0 | 280303 |
| Minnesota Municipal Gas Agency, 3.881%, 12/01/52 | 1200000.0 | 1157957 |
| Northern Municipal Power Agency, Refunding, 5.00%, 1/01/36 | 100000.0 | 105055 |
| St Louis Park Independent School District No 283, Series 2018A, 5.00%, 2/01/25 | 100000.0 | 104698 |
|  |  | 2012017 |
| **Mississippi 0.4%** |  |  |
| Mississippi Development Bank, Magnolia Regional Health Center, Refunding, 5.00%, 10/01/31 | 150000.0 | 156807 |
| Mississippi Home Corp., |  |  |
| &nbsp;&nbsp;&nbsp; Patriot Services Group Obligated Group, Series 2021D-8, 3.50%, 6/01/33 | 100000.0 | 82688 |
| &nbsp;&nbsp;&nbsp; Patriot Services Group Pascagoula Portfolio II Obligated Group, Series 2021A, 3.65%, |  |  |
| 6/01/33 | 100000.0 | 83864 |
|  |  | 323359 |
| **Missouri 1.3%** |  |  |
| Cape Girardeau County Industrial Development Authority, SoutheastHEALTH Obligated Group, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 3/01/29 | 130000.0 | 135195 |
| City of Maryland Heights, Westport Plaza Redevelopment, 3.625%, 11/01/31 | 80000.0 | 70704 |
| Missouri Development Finance Board, City of Independence, Refunding, 5.00%, 3/01/30 | 930000.0 | 975257 |
|  |  | 1181156 |
| **Montana 0.1%** |  |  |
| Cascade County High School District A Great Falls, 5.00%, 7/01/25 | 100000.0 | 105194 |
| **Nebraska 1.1%** |  |  |
| Central Plains Energy Project, Series 2022-1, VRDN, 5.00%, 5/01/53 | 1000000.0 | 1028481 |
| **Nevada 0.9%** |  |  |
| City of Carson City, Carson Tahoe Regional Healthcare Obligated Group, 5.00%, 9/01/28 | 140000.0 | 148116 |
| City of Las Vegas, |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment, 2.50%, 6/01/29 | 200000.0 | 170195 |
| &nbsp;&nbsp;&nbsp; Special Improvement District No 611, Special Assessment, 3.50%, 6/01/31 | 160000.0 | 140240 |
| Tahoe-Douglas Visitors Authority, 5.00%, 7/01/31 | 250000.0 | 260958 |
| Washoe County School District, Series 2017C, 5.00%, 10/01/26 | 100000.0 | 108150 |
|  |  | 827659 |
| **New Hampshire 0.1%** |  |  |
| New Hampshire Health and Education Facilities Authority Act, University System of New |  |  |
| &nbsp;&nbsp;&nbsp; Hampshire Obligated Group, Refunding, Series 2017A, 5.00%, 7/01/27 | 100000.0 | 109893 |
| **New Jersey 3.5%** |  |  |
| Camden County Improvement Authority, Camden Prep High School Project, 5.00%, 7/15/32 | 250000.0 | 259531 |
| New Jersey Economic Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 6/15/31 | 200000.0 | 220398 |
| &nbsp;&nbsp;&nbsp; 5.00%, 7/01/32 | 100000.0 | 96126 |
| &nbsp;&nbsp;&nbsp; AMT, Refunding, VRDN, 2.20%, 10/01/39 | 100000.0 | 86003 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc., 5.25%, 9/15/29 | 250000.0 | 248791 |
| New Jersey Educational Facilities Authority, Seton Hall University, Series 2016C, 5.00%, 7/01/29 | 240000.0 | 251013 |
| New Jersey Transportation Trust Fund Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Refunding, 5.00%, 12/15/28 | 100000.0 | 108740 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2021A, 5.00%, 6/15/28 | 265000.0 | 286408 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2021A, 5.00%, 6/15/31 | 1035000.0 | 1146275 |
| Pinelands Regional School District, 3.00%, 8/01/27 | 100000.0 | 98551 |
| State of New Jersey, Series 2020A, 4.00%, 6/01/31 | 180000.0 | 191232 |
| Tobacco Settlement Financing Corp., Refunding, Series 2018A, 5.00%, 6/01/30 | 190000.0 | 199675 |
|  |  | 3192743 |
| **New York 7.5%** |  |  |
| Genesee County Funding Corp., Rochester Regional Health Obligated Group, 5.00%, 12/01/29 | 200000.0 | 214164 |
| Metropolitan Transportation Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Green Bond, Series 2017C-1, 5.00%, 11/15/28 | 2515000.0 | 2613055 |
| &nbsp;&nbsp;&nbsp; Green Bond, Series 2017C-1, 5.00%, 11/15/30 | 940000.0 | 974033 |
| New York State Dormitory Authority, St Joseph's College, 5.00%, 7/01/30 | 65000.0 | 69927 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/01/26 | 120000 | 110915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/01/31 | 210000 | 182980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 1/01/36 | 450000 | 414559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMT, 5.25%, 8/01/31 | 90000 | 90450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMT, Refunding, 5.00%, 12/01/30 | 100000 | 106517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc., AMT, 4.00%, 10/01/30 | 350000 | 338647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laguardia Gateway Partners LLCTerm B, AMT, 5.00%, 7/01/30 | 100000 | 101121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 5.00%, 12/01/30 | 150000 | 161884 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/15/35 | 1000000 | 979937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 230TH, 3.00%, 12/01/31 | 500000 | 499085 |
|  |  | 6857274 |
| &nbsp;&nbsp;&nbsp; **North Dakota 0.1%** |  |  |
| <sup>a</sup> County of Grand Forks, Red River Biorefinery LLC, AMT, 6.625%, 12/15/31 | 125000 | 68750 |
| &nbsp;&nbsp;&nbsp; **Ohio 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Akron Bath Copley Joint Township Hospital District, Summa Health System Obligated Group, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 4.00%, 11/15/33 | 150000 | 144158 |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/01/39 | 155000 | 144523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, Series 2020A-2, Class 1, 5.00%, 6/01/28 | 175000 | 185083 |
| &nbsp;&nbsp;&nbsp; County of Cuyahoga OH, Eliza Jennings Obligated Group, Refunding, 5.00%, 5/15/32 | 600000 | 583360 |
| &nbsp;&nbsp;&nbsp; County of Franklin, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Children's Hospital, Inc., 5.00%, 11/01/28 | 100000 | 109363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Living Obligated Group, Refunding, 4.00%, 7/01/33 | 200000 | 183073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trinity Health Corp Obligated Group, Series 2019A, 5.00%, 12/01/31 | 100000 | 112622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wesley Communities Obligated Group, Refunding, 5.00%, 11/15/30 | 100000 | 96403 |
| &nbsp;&nbsp;&nbsp; County of Hamilton, UC Health Obligated Group, 5.00%, 9/15/33 | 100000 | 107587 |
| &nbsp;&nbsp;&nbsp; Franklin County Convention Facilities Authority, 5.00%, 12/01/30 | 100000 | 105987 |
| &nbsp;&nbsp;&nbsp; Ohio Air Quality Development Authority, AMT, 3.75%, 1/15/28 | 100000 | 97800 |
| &nbsp;&nbsp;&nbsp; Ohio Higher Educational Facility Commission, Cleveland Institute of Music/The, 5.00%, 12/01/32 | 300000 | 317433 |
| &nbsp;&nbsp;&nbsp; State of Ohio, Refunding, 5.00%, 11/15/33 | 200000 | 213040 |
|  |  | 2400432 |
| &nbsp;&nbsp;&nbsp; **Oregon 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Union County Hospital Facility Authority, Grande Ronde Hospital Inc Obligated Group, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/01/31 | 340000 | 362281 |
| &nbsp;&nbsp;&nbsp; **Pennsylvania 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Allegheny County Higher Education Building Authority, Robert Morris University, 5.00%, 10/15/26 | 100000 | 101753 |
| &nbsp;&nbsp;&nbsp; Allentown Neighborhood Improvement Zone Development Authority, 5.00%, 5/01/28 | 100000 | 100446 |
| &nbsp;&nbsp;&nbsp; Bucks County Industrial Development Authority, Grand View Hospital/Sellersville PA Obligated |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group, 5.00%, 7/01/32 | 150000 | 151988 |
| &nbsp;&nbsp;&nbsp; Franklin County Industrial Development Authority, Refunding, 5.00%, 12/01/28 | 100000 | 94039 |
| &nbsp;&nbsp;&nbsp; Luzerne County Industrial Development Authority, Pennsylvania-American Water Co., AMT, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, VRDN, 2.45%, 12/01/39 | 100000 | 90187 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing Authority, UPMC Obligated Group, Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017A, 3.375%, 11/15/33 | 125000 | 121910 |
| &nbsp;&nbsp;&nbsp; Philadelphia Authority for Industrial Development, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MaST Community Charter School II, 5.00%, 8/01/30 | 150000 | 155148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philadelphia Electrical & Technology Charter High School, 4.00%, 6/01/31 | 100000 | 93396 |
| &nbsp;&nbsp;&nbsp; Redevelopment Authority of the City of Philadelphia, Social Bond, Series 2021A, 2.799%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/01/33 | 500000 | 406257 |
| &nbsp;&nbsp;&nbsp; Westmoreland County Industrial Development Authority, Excela Health Obligated Group, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, Series 2020A, 5.00%, 7/01/30 | 100000 | 106975 |
|  |  | 1422099 |
| &nbsp;&nbsp;&nbsp; **Puerto Rico 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Puerto Rico, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A, zero cpn., 7/01/24 | 3219 | 2985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A, zero cpn., 7/01/33 | 12391 | 6719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A1, 4.00%, 7/01/33 | 359628 | 312594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A1, 4.00%, 7/01/35 | 8654 | 7304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021A1, 4.00%, 7/01/37 | 7428 | 6096 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Series 2021A1, 4.00%, 7/01/41 | 10099.0 | 7936 |
| &nbsp;&nbsp;&nbsp; Series 2021A1, 4.00%, 7/01/46 | 110503.0 | 83183 |
| &nbsp;&nbsp;&nbsp; Series 2021A1, 5.625%, 7/01/27 | 10626.0 | 10839 |
| &nbsp;&nbsp;&nbsp; Series 2021A1, 5.625%, 7/01/29 | 10454.0 | 10714 |
| &nbsp;&nbsp;&nbsp; Series 2021A1, 5.75%, 7/01/31 | 10154.0 | 10520 |
| &nbsp;&nbsp;&nbsp; VRDN, 11/01/43 | 45587.0 | 20001 |
| GDB Debt Recovery Authority of Puerto Rico, 7.50%, 8/20/40 | 335671.0 | 281124 |
| HTA HRRB Custodial Trust, |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 7/01/32 | 200000.0 | 200739 |
| &nbsp;&nbsp;&nbsp; 5.50%, 7/01/28 | 155000.0 | 159199 |
| &nbsp;&nbsp;&nbsp; 5.50%, 7/01/29 | 250000.0 | 256975 |
| Puerto Rico Electric Power Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2007VV, 5.25%, 7/01/27 | 170000.0 | 171555 |
| &nbsp;&nbsp;&nbsp; Refunding, Series 2007VV, 5.25%, 7/01/32 | 175000.0 | 174695 |
| Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Series 2018A-1, zero cpn., 7/01/31 | 1043000.0 | 680737 |
|  |  | 2403915 |
| **South Carolina 0.6%** |  |  |
| County of Richland, Village at Sandhill Improvement District, Special Assessment, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/01/26 | 100000.0 | 90903 |
| Patriots Energy Group, Refunding, 4.00%, 6/01/33 | 100000.0 | 101185 |
| South Carolina Jobs-Economic Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp; AHPC Vista Towers 2021 LLC, 3.65%, 12/01/36 | 100000.0 | 79091 |
| &nbsp;&nbsp;&nbsp; Columbia Portfolio Obligated Group, 6/01/37 | 315000.0 | 202416 |
| &nbsp;&nbsp;&nbsp; Orchard Pk and Willowbrook Apartment, 3.65%, 12/01/36 | 100000.0 | 79336 |
|  |  | 552931 |
| **Tennessee 2.5%** |  |  |
| City of Lawrenceburg, Refunding, 2.50%, 6/01/27 | 100000.0 | 97049 |
| Cleveland Housing Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland Forward Phase One LLC, 6.25%, 4/01/41 | 300000.0 | 283522 |
| &nbsp;&nbsp;&nbsp; Cleveland Forward Phase Two LLC, 6.25%, 4/01/41 | 100000.0 | 94508 |
| Metropolitan Government of Nashville & Davidson County, Refunding, 4.00%, 7/01/29 | 100000.0 | 105205 |
| Metropolitan Nashville Airport Authority, Subordinate, AMT, Series 2019B, 5.00%, 7/01/30 | 100000.0 | 108325 |
| Tennergy Corp., 5.50%, 10/01/53 | 1500000.0 | 1587828 |
|  |  | 2276437 |
| **Texas 7.2%** |  |  |
| Arlington Higher Education Finance Corp., Riverwalk Education Foundation, Inc., 4.00%, 8/15/33 | 100000.0 | 102900 |
| City of Cedar Park, Refunding, 5.00%, 2/15/24 | 100000.0 | 102362 |
| City of Celina, |  |  |
| &nbsp;&nbsp;&nbsp; Celina Hills Public Improvement District, Special Assessment, 4.375%, 9/01/27 | 100000.0 | 97337 |
| &nbsp;&nbsp;&nbsp; Edgewood Creek Public Improvement District, Special Assessment, 3.75%, 9/01/31 | 180000.0 | 153437 |
| &nbsp;&nbsp;&nbsp; Special Assessment, 3.625%, 9/01/30 | 125000.0 | 110650 |
| &nbsp;&nbsp;&nbsp; Sutton Fields II Public Improvement District, Special Assessment, 2.875%, 9/01/27 | 100000.0 | 88434 |
| &nbsp;&nbsp;&nbsp; The Parks at Wilson Creek Public Improvement District, Special Assessment, 3.25%, 9/01/31 | 110000.0 | 96105 |
| &nbsp;&nbsp;&nbsp; Wells North Public Improvement District, Special Assessment, 3.25%, 9/01/30 | 180000.0 | 156337 |
| City of Crandall, Special Assessment, 4.75%, 9/15/31 | 100000.0 | 91769 |
| City of Fate, |  |  |
| &nbsp;&nbsp;&nbsp; Monterra Public Improvement District, Special Assessment, 2.75%, 8/15/26 | 97000.0 | 88110 |
| &nbsp;&nbsp;&nbsp; Williamsburg East Public Improvement District, Special Assessment, 3.375%, 8/15/30 | 145000.0 | 125826 |
| City of Garland, Refunding, 5.00%, 2/15/27 | 100000.0 | 108787 |
| City of Horseshoe Bay, Escondido Public Improvement District, Special Assessment, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 10/01/30 | 140000.0 | 119596 |
| City of Kyle, |  |  |
| &nbsp;&nbsp;&nbsp; Creeks Public Improvement District, Special Assessment, 2.75%, 9/01/26 | 100000.0 | 89133 |
| &nbsp;&nbsp;&nbsp; Kyle 57 Public Improvement District, Series 2022, 4.75%, 9/01/32 | 133000.0 | 128786 |
| &nbsp;&nbsp;&nbsp; Plum Creek North Public Improvement District, Special Assessment, 4.375%, 9/01/32 | 215000.0 | 201730 |
| City of Lago Vista, |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment, Refunding, 3.125%, 9/01/30 | 130000.0 | 115714 |
| &nbsp;&nbsp;&nbsp; Tessera on Lake Travis Public Improvement District, Special Assessment, Refunding, 5.00%, |  |  |
| 9/01/30 | 140000.0 | 130599 |
| City of Leander, Oak Creek Public Improvement District, Special Assessment, Refunding, 3.25%, |  |  |
| &nbsp;&nbsp;&nbsp; 9/01/32 | 100000.0 | 86167 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; City of Liberty Hill, Summerlyn West Public Improvement District, Special Assessment, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/01/30 | 75000 | 64321 |
| &nbsp;&nbsp;&nbsp; City of Mclendon-Chisholm, Sonoma Public Improvement District, Special Assessment, 5.375%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/15/32 | 155000 | 152973 |
| &nbsp;&nbsp;&nbsp; City of Pilot Point, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creekview Public Improvement District, Special Assessment, Series 2022, 5.25%, 9/15/32 | 150000 | 148667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creekview Public Improvement District, Special Assessment, Series 2022, 5.75%, 9/15/32 | 145000 | 143397 |
| &nbsp;&nbsp;&nbsp; City of Princeton, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 3.25%, 9/01/30 | 100000 | 87761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winchester Public Improvement District, Special Assessment, 2.875%, 9/01/31 | 100000 | 83483 |
| &nbsp;&nbsp;&nbsp; City of Royse City, Creekshaw Public Improvement District, Special Assessment, 3.125%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/15/25 | 150000 | 142254 |
| &nbsp;&nbsp;&nbsp; City of Sachse, 6.00%, 9/15/28 | 100000 | 100548 |
| &nbsp;&nbsp;&nbsp; City of Tomball, Raburn Reserve Public Improvement District, Special Assessment, 3.375%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/15/30 | 100000 | 89067 |
| &nbsp;&nbsp;&nbsp; County of Hays, La Cima Public Improvement District, Special Assessment, 3.25%, 9/15/30 | 150000 | 128616 |
| &nbsp;&nbsp;&nbsp; County of Medina, Woodlands Public Improvement District IA#1 Project, Special Assessment, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 9/01/26 | 100000 | 90314 |
| &nbsp;&nbsp;&nbsp; Ector County Hospital District, Refunding, 5.00%, 9/15/31 | 100000 | 105631 |
| &nbsp;&nbsp;&nbsp; Matagorda County Navigation District No. 1, 5.125%, 11/01/28 | 1000000 | 1071552 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 4/01/31 | 30000 | 32048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHF-Collegiate Housing College Station I LLC, 5.00%, 4/01/29 | 100000 | 99305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 4.00%, 1/01/29 | 100000 | 88422 |
| &nbsp;&nbsp;&nbsp; North Parkway Municipal Management District No 1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legacy Hills Public Improvement District, Special Assessment, 3.625%, 9/15/31 | 50000 | 44069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 4.25%, 9/15/31 | 152000 | 143721 |
| &nbsp;&nbsp;&nbsp; Texas Municipal Gas Acquisition & Supply Corp. III, 5.00%, 12/15/31 | 1360000 | 1411923 |
| &nbsp;&nbsp;&nbsp; Viridian Municipal Management District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment, 2.875%, 12/01/30 | 100000 | 83634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viridian Public Improvement District, Special Assessment, 2.375%, 12/01/25 | 40000 | 36859 |
|  |  | 6542344 |
| &nbsp;&nbsp;&nbsp; **U. S. Virgin Islands 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Matching Fund Special Purpose Securitization Corp., United States Virgin Islands Federal Excise |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax, Refunding, Series 2022A, 5.00%, 10/01/30 | 250000 | 259950 |
| &nbsp;&nbsp;&nbsp; **Utah 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Military Installation Development Authority, Series 2021A-2, 4.00%, 6/01/36 | 250000 | 210022 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, Wallace Stegner Academy, Series 2022A, 5.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/15/32 | 230000 | 226132 |
| &nbsp;&nbsp;&nbsp; Utah Infrastructure Agency, 5.00%, 10/15/32 | 250000 | 258617 |
| &nbsp;&nbsp;&nbsp; Utah State Building Ownership Authority, Master Lease Program, 2.50%, 5/15/27 | 100000 | 99186 |
|  |  | 793957 |
| &nbsp;&nbsp;&nbsp; **Vermont 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Vermont Public Power Supply Authority, Refunding, Series 2017A, 5.00%, 7/01/28 | 100000 | 103973 |
| &nbsp;&nbsp;&nbsp; **Virginia 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Peninsula Town Center Community Development Authority, Special Assessment, Refunding, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 9/01/28 | 100000 | 93752 |
| &nbsp;&nbsp;&nbsp; Virginia Small Business Financing Authority, National Senior Campuses, Inc.Obligated Group, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 5.00%, 1/01/33 | 100000 | 107457 |
|  |  | 201209 |
| &nbsp;&nbsp;&nbsp; **Washington 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Skagit County Public Hospital District No 1, Refunding, 5.00%, 12/01/29 | 100000 | 104527 |
| &nbsp;&nbsp;&nbsp; Spokane County School District No 356 Central Valley, 5.00%, 12/01/26 | 100000 | 108879 |
| &nbsp;&nbsp;&nbsp; University of Washington, Series 2016A, 5.00%, 12/01/26 | 100000 | 108647 |
| &nbsp;&nbsp;&nbsp; Washington Health Care Facilities Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/01/34 | 125000 | 112043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/32 | 250000 | 271136 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| Washington State Housing Finance Commission, |  |  |
| &nbsp;&nbsp;&nbsp; eliseo Obligated Group, Series 2021A, 4.00%, 1/01/31 | 100000 | 90254 |
| &nbsp;&nbsp;&nbsp; Madison at Rivers Edge Apartments LLC, 3.65%, 1/01/37 | 100000 | 79258 |
| &nbsp;&nbsp;&nbsp; Presbyterian Retirement Communities Northwest Obligated Group, Series 2019A, 5.00%, |  |  |
| 1/01/34 | 100000 | 89653 |
| &nbsp;&nbsp;&nbsp; Spokane United Methodist Homes Obligated Group, 5.00%, 1/01/32 | 100000 | 88346 |
|  |  | 1052743 |
| **West Virginia 0.3%** |  |  |
| West Virginia Economic Development Authority, Appalachian Power Co., VRDN, 3.75%, 12/01/42 | 250000 | 248048 |
| **Wisconsin 2.4%** |  |  |
| Public Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Coral Academy of Science Reno, 5.375%, 6/01/37 | 335000 | 325660 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC, Refunding, VRDN, 3.30%, 10/01/46 | 500000 | 501128 |
| &nbsp;&nbsp;&nbsp; Friends Homes Obligated Group, Refunding, 4.00%, 9/01/29 | 100000 | 93796 |
| &nbsp;&nbsp;&nbsp; Ocean Academy Charter School, 4.00%, 10/15/31 | 100000 | 88886 |
| &nbsp;&nbsp;&nbsp; Refunding, 4.00%, 3/01/27 | 55000 | 52419 |
| &nbsp;&nbsp;&nbsp; Refunding, 4.00%, 7/01/31 | 100000 | 87451 |
| &nbsp;&nbsp;&nbsp; Refunding, 5.00%, 10/01/24 | 100000 | 100588 |
| &nbsp;&nbsp;&nbsp; Refunding, 5.00%, 10/01/29 | 100000 | 100106 |
| &nbsp;&nbsp;&nbsp; Refunding, 5.00%, 1/01/30 | 250000 | 271562 |
| &nbsp;&nbsp;&nbsp; Signature Preparatory, 5.00%, 6/15/31 | 120000 | 115047 |
| &nbsp;&nbsp;&nbsp; VRDN, 3.50%, 12/01/50 | 100000 | 80329 |
| Wisconsin Center District, Series 2020C, zero cpn., 12/15/30 | 365000 | 270222 |
| Wisconsin Health & Educational Facilities Authority, St John's Communities, Inc. Obligated Group, |  |  |
| &nbsp;&nbsp;&nbsp; Series 2018A, 4.00%, 9/15/27 | 100000 | 100671 |
|  |  | 2187865 |
| **Total Investments (Cost $96,761,466) 99.8%** |  | 90914832 |
| **Other Assets, less Liabilities 0.2%** |  | 206582 |
| **Net Assets 100.0%** |  | $91121414 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>Defaulted securities.<br> <sup>b</sup>Security purchased on a when-issued basis.<br>**Abbreviations**<br>**Selected Portfolio**<br>**CSCDA** – California Statewide Communities<br> Development Authority

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**Franklin Emerging Market Core Dividend Tilt Index ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;**Common Stocks 97.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Brazil 4.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Alupar Investimento SA, UNIT | Electric Utilities | 1000 | $5349 |
| &nbsp;&nbsp;&nbsp;Ambev SA | Beverages | 15500 | 42627 |
| &nbsp;&nbsp;&nbsp;Americanas SA | Internet & Catalog Retail | 4000 | 7311 |
| &nbsp;&nbsp;&nbsp;B3 SA - Brasil Bolsa Balcao | Capital Markets | 11500 | 28773 |
| &nbsp;&nbsp;&nbsp;Banco Bradesco SA | Banks | 2500 | 6378 |
| &nbsp;&nbsp;&nbsp;Banco do Brasil SA | Banks | 7000 | 46046 |
| &nbsp;&nbsp;&nbsp;BB Seguridade Participacoes SA | Insurance | 3500 | 22347 |
| &nbsp;&nbsp;&nbsp;Caixa Seguridade Participacoes S/A | Insurance | 2500 | 3954 |
| &nbsp;&nbsp;&nbsp;Cia Energetica de Minas Gerais | Electric Utilities | 1500 | 4588 |
| &nbsp;&nbsp;&nbsp;Cia Paranaense de Energia | Electric Utilities | 1500 | 10935 |
| &nbsp;&nbsp;&nbsp;Cia Siderurgica Nacional SA | Metals & Mining | 3000 | 8267 |
| &nbsp;&nbsp;&nbsp;Cosan SA | Oil, Gas & Consumable Fuels | 1000 | 3243 |
| &nbsp;&nbsp;&nbsp;CPFL Energia SA | Electric Utilities | 1000 | 6288 |
| &nbsp;&nbsp;&nbsp;Energisa SA | Electric Utilities | 1500 | 12560 |
| &nbsp;&nbsp;&nbsp;Engie Brasil Energia SA | Independent Power Producers & Energy Traders | 1500 | 10762 |
| &nbsp;&nbsp;&nbsp;Hypera SA | Pharmaceuticals | 1000 | 8561 |
| &nbsp;&nbsp;&nbsp;Klabin SA | Containers & Packaging | 4000 | 15130 |
| &nbsp;&nbsp;&nbsp;Neoenergia SA | Electric Utilities | 1000 | 2926 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA | Oil, Gas & Consumable Fuels | 12000 | 63730 |
| &nbsp;&nbsp;&nbsp;Telefonica Brasil SA | Diversified Telecommunication Services | 2500 | 18159 |
| &nbsp;&nbsp;&nbsp;TIM SA | Wireless Telecommunication Services | 4500 | 10569 |
| &nbsp;&nbsp;&nbsp;Transmissora Alianca de Energia Eletrica SA | Electric Utilities | 1000 | 6567 |
| &nbsp;&nbsp;&nbsp;Vale SA | Metals & Mining | 10200 | 171708 |
| &nbsp;&nbsp;&nbsp;Vibra Energia SA | Specialty Retail | 2500 | 7363 |
|  |  |  | 524141 |
| &nbsp;&nbsp;&nbsp;**Chile 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Banco de Chile | Banks | 216970 | 22411 |
| &nbsp;&nbsp;&nbsp;Banco Santander Chile | Banks | 319800 | 12744 |
| &nbsp;&nbsp;&nbsp;Cencosud Shopping SA | Real Estate Management & Development | 2645 | 4157 |
| &nbsp;&nbsp;&nbsp;Cia Cervecerias Unidas SA | Beverages | 685 | 4555 |
| &nbsp;&nbsp;&nbsp;Cia Sud Americana de Vapores SA | Marine | 76385 | 6007 |
| &nbsp;&nbsp;&nbsp;Empresas CMPC SA | Paper & Forest Products | 5620 | 9340 |
| &nbsp;&nbsp;&nbsp;Quinenco SA | Industrial Conglomerates | 1370 | 4615 |
|  |  |  | 63829 |
| &nbsp;&nbsp;&nbsp;**China 28.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;37 Interactive Entertainment Network Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Group Co. Ltd. | Entertainment | 1000 | 2616 |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China Ltd., A | Banks | 67500 | 28390 |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China Ltd., H | Banks | 165000 | 56656 |
| <sup>a</sup> Alibaba Group Holding Ltd., A | Internet & Direct Marketing Retail | 20500 | 226539 |
| &nbsp;&nbsp;&nbsp;Anhui Conch Cement Co. Ltd., A | Construction Materials | 1500 | 5936 |
| &nbsp;&nbsp;&nbsp;Anhui Conch Cement Co. Ltd., H | Construction Materials | 6670 | 23330 |
| &nbsp;&nbsp;&nbsp;ANTA Sports Products Ltd., A | Textiles, Apparel & Luxury Goods | 1240 | 16253 |
| &nbsp;&nbsp;&nbsp;AVIC Industry-Finance Holdings Co. Ltd., A | Diversified Financial Services | 3500 | 1659 |
| &nbsp;&nbsp;<sup>a</sup> Baidu Inc. | Interactive Media & Services | 1250 | 17889 |
| &nbsp;&nbsp;&nbsp;Bank of Beijing Co. Ltd., A | Banks | 9000 | 5606 |
| &nbsp;&nbsp;&nbsp;Bank of Changsha Co. Ltd., A | Banks | 2000 | 1954 |
| &nbsp;&nbsp;&nbsp;Bank of Chengdu Co. Ltd., A | Banks | 1500 | 3317 |
| &nbsp;&nbsp;&nbsp;Bank of China Ltd., A | Banks | 23500 | 10733 |
| &nbsp;&nbsp;&nbsp;Bank of China Ltd., H | Banks | 290000 | 105523 |
| &nbsp;&nbsp;&nbsp;Bank of Communications Co. Ltd., A | Banks | 15500 | 10619 |
| &nbsp;&nbsp;&nbsp;Bank of Communications Co. Ltd., H | Banks | 110000 | 63280 |
| &nbsp;&nbsp;&nbsp;Bank of Jiangsu Co. Ltd., A | Banks | 6000 | 6322 |
| &nbsp;&nbsp;&nbsp;Bank of Nanjing Co. Ltd., A | Banks | 4500 | 6777 |
| &nbsp;&nbsp;&nbsp;Bank of Shanghai Co. Ltd., A | Banks | 6000 | 5125 |
| &nbsp;&nbsp;&nbsp;Baoshan Iron & Steel Co. Ltd., A | Metals & Mining | 9500 | 7675 |
| <sup>a</sup> BeiGene Ltd. | Biotechnology | 1000 | 17194 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Beijing Enterprises Holdings Ltd., H | Industrial Conglomerates | 2500 | 8008 |
| <sup>b</sup> Blue Moon Group Holdings Ltd., 144A | Household Products | 7500.0 | 5035.0 |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | Banks | 18500.0 | 63050.0 |
| &nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 15000.0 | 7328.0 |
| &nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., B | Electronic Equipment, Instruments & Components | 4500.0 | 1983.0 |
| &nbsp;&nbsp;&nbsp; Changjiang Securities Co. Ltd., A | Capital Markets | 2500.0 | 1926.0 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., H | Banks | 50000.0 | 22165.0 |
| &nbsp;&nbsp;&nbsp; China Conch Venture Holdings Ltd. | Construction & Engineering | 9000.0 | 19557.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., A | Banks | 2000.0 | 1627.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., H | Banks | 265000.0 | 166029.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., A | Banks | 16500.0 | 7321.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., H | Banks | 15000.0 | 4574.0 |
| <sup>b,c</sup> China Feihe Ltd., 144A, Reg S | Food Products | 15000.0 | 12761.0 |
| &nbsp;&nbsp;&nbsp; China Hongqiao Group Ltd. | Metals & Mining | 10000.0 | 9443.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 1000.0 | 1018.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Machinery | 4000.0 | 3034.0 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co. Ltd., H | Insurance | 38000.0 | 65241.0 |
| &nbsp;&nbsp;&nbsp; China Longyuan Power Group Corp. Ltd., A | Independent Power Producers & Energy Traders | 3000.0 | 3667.0 |
| &nbsp;&nbsp;&nbsp; China Medical System Holdings Ltd. | Pharmaceuticals | 5000.0 | 7867.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., A | Banks | 5500.0 | 29619.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., H | Banks | 11000.0 | 61519.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Expressway Network & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Holdings Co. Ltd., A | Transportation Infrastructure | 1500.0 | 1685.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Port Holdings Co. Ltd. | Transportation Infrastructure | 6670.0 | 9776.0 |
| <sup>b</sup> China Merchants Securities Co. Ltd., A, 144A | Capital Markets | 3000.0 | 2940.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Securities Co. Ltd., A | Capital Markets | 3000.0 | 5767.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Shekou Industrial Zone Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Real Estate Management & Development | 3500.0 | 6389.0 |
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., A | Banks | 15500.0 | 7729.0 |
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., H | Banks | 35000.0 | 12108.0 |
| &nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., H | Construction Materials | 25000.0 | 20532.0 |
| &nbsp;&nbsp;&nbsp; China Overseas Land & Investment Ltd., A | Real Estate Management & Development | 21000.0 | 55426.0 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., A | Insurance | 2000.0 | 7088.0 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., H | Insurance | 8000.0 | 17814.0 |
| &nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., A | Oil, Gas & Consumable Fuels | 15000.0 | 9452.0 |
| &nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., H | Oil, Gas & Consumable Fuels | 140000.0 | 67624.0 |
| &nbsp;&nbsp;&nbsp; China Resources Cement Holdings Ltd. | Construction Materials | 12000.0 | 6365.0 |
| <sup>b</sup> China Resources Mixc Lifestyle Services Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Real Estate Management & Development | 400.0 | 2032.0 |
| &nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 3500.0 | 13972.0 |
| &nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., H | Oil, Gas & Consumable Fuels | 19000.0 | 54895.0 |
| &nbsp;&nbsp;&nbsp; China Taiping Insurance Holdings Co. Ltd. | Insurance | 6000.0 | 7472.0 |
| <sup>b,c</sup> China Tower Corp. Ltd., H, 144A, Reg S | Diversified Telecommunication Services | 240000.0 | 25830.0 |
| &nbsp;&nbsp;&nbsp; China Vanke Co. Ltd., A | Real Estate Management & Development | 3500.0 | 9207.0 |
| &nbsp;&nbsp;&nbsp; China Vanke Co. Ltd., H | Real Estate Management & Development | 10000.0 | 20244.0 |
| &nbsp;&nbsp;&nbsp; China Yangtze Power Co. Ltd., A | Independent Power Producers & Energy Traders | 9500.0 | 28834.0 |
| &nbsp;&nbsp;&nbsp; Chongqing Rural Commercial Bank Co. Ltd., A | Banks | 4000.0 | 2041.0 |
| &nbsp;&nbsp;&nbsp; Chongqing Rural Commercial Bank Co. Ltd., H | Banks | 10000.0 | 3421.0 |
| &nbsp;&nbsp;&nbsp; Chow Tai Fook Jewellery Group Ltd., A | Specialty Retail | 11000.0 | 22437.0 |
| &nbsp;&nbsp;&nbsp; CITIC Ltd., B | Industrial Conglomerates | 35000.0 | 36951.0 |
| &nbsp;&nbsp;&nbsp; Citic Pacific Special Steel Group Co. Ltd., A | Metals & Mining | 1500.0 | 3720.0 |
| &nbsp;&nbsp;&nbsp; COSCO SHIPPING Holdings Co. Ltd., B | Marine | 17500.0 | 17848.0 |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd. | Real Estate Management & Development | 25000.0 | 8552.0 |
| &nbsp;&nbsp;&nbsp; Country Garden Services Holdings Co. Ltd. | Commercial Services & Supplies | 2700.0 | 6725.0 |
| <sup>b</sup> Dali Foods Group Co. Ltd., 144A | Food Products | 12500.0 | 5702.0 |
| &nbsp;&nbsp;&nbsp; Daqin Railway Co. Ltd., A | Road & Rail | 6500.0 | 6276.0 |
| &nbsp;&nbsp;&nbsp; Easyhome New Retail Group Co. Ltd., A | Multiline Retail | 2500.0 | 1478.0 |
| &nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. | Gas Utilities | 600.0 | 8425.0 |
| &nbsp;&nbsp;&nbsp; Far East Horizon Ltd. | Diversified Financial Services | 10000.0 | 7816.0 |
| &nbsp;&nbsp;&nbsp; FAW Jiefang Group Co. Ltd. | Automobiles | 1000.0 | 1117.0 |
| &nbsp;&nbsp;&nbsp; Focus Media Information Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 5000.0 | 4827.0 |
| &nbsp;&nbsp;&nbsp; Fosun International Ltd. | Industrial Conglomerates | 12500.0 | 10186.0 |
| &nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co. Ltd., A | Electronic Equipment, Instruments & Components | 6000.0 | 7961.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>b</sup> Fuyao Glass Industry Group Co. Ltd., 144A | Auto Components | 400 | 1678 |
| &nbsp;&nbsp;&nbsp; Gemdale Corp., A | Real Estate Management & Development | 2000 | 2957 |
| &nbsp;&nbsp;&nbsp; Gree Electric Appliances Inc. of Zhuhai | Household Durables | 2500 | 11678 |
| &nbsp;&nbsp;&nbsp; Guangdong HEC Technology Holding Co. Ltd., A | Metals & Mining | 1500 | 1884 |
| &nbsp;&nbsp;&nbsp; Guanghui Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 1000 | 1304 |
| &nbsp;&nbsp;&nbsp; Guangzhou Yuexiu Capital Holdings Group Co. |  |  |  |
| Ltd., A | Capital Markets | 2000 | 1732 |
| &nbsp;&nbsp;&nbsp; Guosen Securities Co. Ltd. | Capital Markets | 3500 | 4492 |
| &nbsp;&nbsp; <sup>b</sup> Guotai Junan Securities Co. Ltd., 144A | Capital Markets | 4000 | 4505 |
| &nbsp;&nbsp;&nbsp; Guotai Junan Securities Co. Ltd., A | Capital Markets | 3000 | 5893 |
| &nbsp;&nbsp;&nbsp; Guoyuan Securities Co. Ltd. | Capital Markets | 2000 | 1830 |
| &nbsp;&nbsp;&nbsp; Haitian International Holdings Ltd. | Machinery | 3000 | 8033 |
| &nbsp;&nbsp;&nbsp; Henan Shuanghui Investment & Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Food Products | 1500 | 5622 |
| &nbsp;&nbsp;&nbsp; Hengan International Group Co. Ltd. | Personal Products | 3250 | 17260 |
| &nbsp;&nbsp;&nbsp; Hengli Petrochemical Co. Ltd., A | Chemicals | 2500 | 5611 |
| &nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., A | Independent Power Producers & Energy Traders | 3000 | 2550 |
| &nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., H | Independent Power Producers & Energy Traders | 10000 | 4138 |
| &nbsp;&nbsp;&nbsp; Huaibei Mining Holdings Co. Ltd., A | Metals & Mining | 1000 | 1850 |
| &nbsp;&nbsp;&nbsp; Huaxia Bank Co. Ltd., A | Banks | 6000 | 4501 |
| &nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., H | Construction Materials | 2000 | 2229 |
| &nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., A | Construction Materials | 500 | 1071 |
| &nbsp;&nbsp;&nbsp; Huayu Automotive Systems Co. Ltd. | Auto Components | 1500 | 3757 |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd. | Banks | 25000 | 15682 |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd., H | Banks | 230000 | 118463 |
| &nbsp;&nbsp;&nbsp; Industrial Bank Co. Ltd., A | Banks | 8500 | 21610 |
| &nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., A | Food Products | 2500 | 11201 |
| &nbsp;&nbsp;&nbsp; JA Solar Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 500 | 4342 |
| <sup>a,b</sup> JD Health International Inc., 144A | Internet & Catalog Retail | 1250 | 11427 |
| &nbsp;&nbsp;&nbsp; JD.com Inc., A | Internet & Catalog Retail | 3100 | 87460 |
| &nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., A | Transportation Infrastructure | 500 | 594 |
| &nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., H | Transportation Infrastructure | 6000 | 5481 |
| &nbsp;&nbsp;&nbsp; Kingboard Holdings Ltd. | Electronic Equipment, Instruments & Components | 3340 | 10634 |
| <sup>a,b</sup> Kuaishou Technology, B, 144A | Interactive Media & Services | 3000 | 27310 |
| &nbsp;&nbsp;&nbsp; LB Group Co. Ltd. | Chemicals | 1000 | 2735 |
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. | Technology Hardware, Storage & Peripherals | 44000 | 36136 |
| &nbsp;&nbsp; <sup>a</sup> Li Auto Inc., A | Automobiles | 1500 | 14760 |
| &nbsp;&nbsp;&nbsp; Li Ning Co. Ltd. | Textiles, Apparel & Luxury Goods | 2000 | 17361 |
| &nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc. | Pharmaceuticals | 500 | 2347 |
| &nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc., H | Pharmaceuticals | 1000 | 3363 |
| <sup>b,c</sup> Longfor Group Holdings Ltd., 144A, Reg S | Real Estate Management & Development | 7920 | 24658 |
| <sup>a,b</sup> Meituan, B, 144A | Internet & Catalog Retail | 5650 | 126465 |
| &nbsp;&nbsp;&nbsp; Midea Group Co. Ltd., A | Household Durables | 2500 | 18717 |
| &nbsp;&nbsp;&nbsp; Minth Group Ltd. | Auto Components | 3340 | 9051 |
| &nbsp;&nbsp;&nbsp; NAURA Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 100 | 3256 |
| &nbsp;&nbsp;&nbsp; NetEase Inc. | Entertainment | 2817 | 41326 |
| &nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., A | Insurance | 1000 | 4348 |
| &nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., H | Insurance | 4500 | 11012 |
| &nbsp;&nbsp;&nbsp; Nine Dragons Paper Holdings Ltd. | Paper & Forest Products | 10000 | 9122 |
| &nbsp;&nbsp;&nbsp; Perfect World Co. Ltd. | Entertainment | 1000 | 1838 |
| &nbsp;&nbsp;&nbsp; PetroChina Co. Ltd., H | Oil, Gas & Consumable Fuels | 110000 | 50314 |
| &nbsp;&nbsp;&nbsp; PICC Property & Casualty Co. Ltd., H | Insurance | 38000 | 36077 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., A | Insurance | 2500 | 16983 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., H | Insurance | 17700 | 117131 |
| &nbsp;&nbsp;&nbsp; Poly Developments and Holdings Group Co. |  |  |  |
| Ltd., A | Real Estate Management & Development | 1000 | 2187 |
| &nbsp;&nbsp; <sup>b</sup> Postal Savings Bank of China Co. Ltd., 144A | Banks | 40000 | 24856 |
| &nbsp;&nbsp;&nbsp; Postal Savings Bank of China Co. Ltd. | Banks | 14500 | 9682 |
| &nbsp;&nbsp;&nbsp; Qingdao Port International Co. Ltd., A | Transportation Infrastructure | 1500 | 1216 |
| &nbsp;&nbsp; <sup>b</sup> Qingdao Port International Co. Ltd., H, 144A | Transportation Infrastructure | 5000 | 2422 |
| &nbsp;&nbsp;&nbsp; SAIC Motor Corp. Ltd. | Automobiles | 5000 | 10414 |
| &nbsp;&nbsp;&nbsp; Shaanxi Coal Industry Co. Ltd. | Oil, Gas & Consumable Fuels | 4000 | 10742 |
| &nbsp;&nbsp;&nbsp; Shandong Hi-speed Co. Ltd., A | Transportation Infrastructure | 1000 | 822 |
| &nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., A | Software | 500 | 3238 |
| &nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., B | Software | 2500 | 7737 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Shanghai Construction Group Co. Ltd., A | Construction & Engineering | 4500 | 1691 |
| Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 1000.0 | 1408 |
| Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., B | Real Estate Management & Development | 6500.0 | 5252 |
| Shanghai Pudong Development Bank Co. Ltd., A | Banks | 12000.0 | 12626 |
| Shanxi Coking Coal Energy Group Co. Ltd. | Oil, Gas & Consumable Fuels | 2000.0 | 3368 |
| Shengyi Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 1000.0 | 2083 |
| Shenzhou International Group Holdings Ltd. | Textiles, Apparel & Luxury Goods | 2000.0 | 22499 |
| <sup>a</sup> Shimao Group Holdings Ltd. | Real Estate Management & Development | 9000.0 | 2348 |
| Sichuan Chuantou Energy Co. Ltd., A | Independent Power Producers & Energy Traders | 1500.0 | 2651 |
| Sichuan Road and Bridge Group Co. Ltd., A | Construction & Engineering | 2000.0 | 3214 |
| Sinotruk Hong Kong Ltd. | Machinery | 2500.0 | 3485 |
| <sup>b</sup> Smoore International Holdings Ltd., 144A | Tobacco | 5000.0 | 7764 |
| <sup>a</sup> Sunac China Holdings Ltd. | Real Estate Management & Development | 18000.0 | 3702 |
| Sunny Optical Technology Group Co. Ltd. | Electronic Equipment, Instruments & Components | 1700.0 | 20224 |
| TCL Technology Group Corp. | Household Durables | 1500.0 | 806 |
| Tencent Holdings Ltd. | Interactive Media & Services | 7900.0 | 338068 |
| The People's Insurance Co. Group of China |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Insurance | 45000.0 | 14933 |
| Tianshan Aluminum Group Co. Ltd., A | Machinery | 2000.0 | 2232 |
| Tingyi Cayman Islands Holding Corp. | Food Products | 2000.0 | 3531 |
| Tongwei Co. Ltd., A | Food Products | 1000.0 | 5576 |
| <sup>b</sup> Topsports International Holdings Ltd., 144A | Specialty Retail | 15000.0 | 11896 |
| Uni-President China Holdings Ltd. | Food Products | 5000.0 | 5003 |
| Want Want China Holdings Ltd. | Food Products | 30000.0 | 20064 |
| Western Superconducting Technologies Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 205.0 | 2806 |
| Wuhan Guide Infrared Co. Ltd. | Electronic Equipment, Instruments & Components | 1000.0 | 1590 |
| XCMG Construction Machinery Co. Ltd. | Machinery | 3500.0 | 2565 |
| Xiamen C & D Inc., A | Trading Companies & Distributors | 1500.0 | 2959 |
| Xinyi Solar Holdings Ltd. | Semiconductors & Semiconductor Equipment | 15000.0 | 16605 |
| <sup>a</sup> XPeng Inc., A | Automobiles | 1000.0 | 4914 |
| Yankuang Energy Group Co. Ltd., A | Oil, Gas & Consumable Fuels | 500.0 | 2427 |
| Yankuang Energy Group Co. Ltd., H | Oil, Gas & Consumable Fuels | 4000.0 | 12197 |
| Youngor Group Co. Ltd., A | Real Estate Management & Development | 2000.0 | 1830 |
| Zhuzhou CRRC Times Electric Co. Ltd., H | Electrical Equipment | 1500.0 | 7447 |
| Zoomlion Heavy Industry Science and Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Machinery | 3500.0 | 2752 |
| Zoomlion Heavy Industry Science and Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., H | Machinery | 9000.0 | 4255 |
|  |  |  | 3260695 |
| **Colombia 0.4%** |  |  |  |
| Banco de Bogota SA | Banks | 535.0 | 4082 |
| Bancolombia SA | Banks | 1495.0 | 13104 |
| Ecopetrol SA | Oil, Gas & Consumable Fuels | 26560.0 | 13256 |
| Grupo Energia Bogota SA ESP | Gas Utilities | 12035.0 | 4177 |
| Interconexion Electrica SA ESP | Electric Utilities | 2355.0 | 10199 |
|  |  |  | 44818 |
| **Czech Republic 0.4%** |  |  |  |
| CEZ A/S | Electric Utilities | 835.0 | 28409 |
| Komercni Banka A/S | Banks | 420.0 | 12155 |
| <sup>b</sup> Moneta Money Bank A/S, 144A | Banks | 1860.0 | 6246 |
|  |  |  | 46810 |
| **Greece 0.4%** |  |  |  |
| Hellenic Telecommunications Organization SA | Diversified Telecommunication Services | 1025.0 | 15960 |
| HELLENIQ Energy Holdings SA | Oil, Gas & Consumable Fuels | 225.0 | 1823 |
| JUMBO SA | Specialty Retail | 615.0 | 10489 |
| Motor Oil Hellas Corinth Refineries SA | Oil, Gas & Consumable Fuels | 315.0 | 7335 |
| OPAP SA | Hotels, Restaurants & Leisure | 945.0 | 13343 |
|  |  |  | 48950 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; **Hong Kong 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Beijing Enterprises Water Group Ltd., A | Water Utilities | 30000 | 7687 |
| &nbsp;&nbsp;&nbsp; Bosideng International Holdings Ltd., A | Household Durables | 20000 | 9507 |
| &nbsp;&nbsp;&nbsp; China Everbright Environment Group Ltd., B | Commercial Services & Supplies | 20000 | 8943 |
| &nbsp;&nbsp;&nbsp; China Gas Holdings Ltd., A | Gas Utilities | 16000 | 23288 |
| &nbsp;&nbsp;&nbsp; China Resources Gas Group Ltd., A | Gas Utilities | 4500 | 16893 |
| &nbsp;&nbsp;&nbsp; China Resources Land Ltd., H | Real Estate Management & Development | 15000 | 68706 |
| &nbsp;&nbsp;&nbsp; Geely Automobile Holdings Ltd. | Automobiles | 11000 | 16067 |
| &nbsp;&nbsp;&nbsp; Guangdong Investment Ltd. | Water Utilities | 15000 | 15356 |
| &nbsp;&nbsp;&nbsp; Kingboard Laminates Holdings Ltd. | Electronic Equipment, Instruments & Components | 5000 | 5497 |
| &nbsp;&nbsp;&nbsp; Orient Overseas International Ltd. | Marine | 750 | 13549 |
| &nbsp;&nbsp;&nbsp; Xinyi Glass Holdings Ltd. | Auto Components | 13000 | 24218 |
|  |  |  | 209711 |
| &nbsp;&nbsp;&nbsp; **Hungary 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; MOL Hungarian Oil & Gas PLC | Oil, Gas & Consumable Fuels | 2900 | 20111 |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt | Banks | 1020 | 27483 |
|  |  |  | 47594 |
| &nbsp;&nbsp;&nbsp; **India 12.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; ACC Ltd. | Construction Materials | 425 | 12543 |
| <sup>a</sup> Adani Green Energy Ltd. | Independent Power Producers & Energy Traders | 300 | 7005 |
| &nbsp;&nbsp;&nbsp; Ambuja Cements Ltd. | Construction Materials | 2535 | 16059 |
| &nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. | Health Care Providers & Services | 320 | 17319 |
| &nbsp;&nbsp;&nbsp; Asian Paints Ltd. | Chemicals | 315 | 11757 |
| &nbsp;&nbsp;&nbsp; Aurobindo Pharma Ltd. | Pharmaceuticals | 1540 | 8159 |
| &nbsp;&nbsp;&nbsp; Bajaj Auto Ltd. | Automobiles | 385 | 16828 |
| &nbsp;&nbsp;&nbsp; Bajaj Holdings & Investment Ltd. | Diversified Financial Services | 120 | 8328 |
| &nbsp;&nbsp;&nbsp; Bharat Forge Ltd. | Auto Components | 665 | 7072 |
| &nbsp;&nbsp;&nbsp; Bharat Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 5225 | 20873 |
| &nbsp;&nbsp;&nbsp; Britannia Industries Ltd. | Food Products | 260 | 13537 |
| &nbsp;&nbsp;&nbsp; Coal India Ltd. | Oil, Gas & Consumable Fuels | 11025 | 29991 |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive India Ltd. | Personal Products | 710 | 13185 |
| &nbsp;&nbsp;&nbsp; Dr Reddy's Laboratories Ltd. | Pharmaceuticals | 425 | 21769 |
| &nbsp;&nbsp;&nbsp; Embassy Office Parks REIT | Equity Real Estate Investment Trusts (REITs) | 3305 | 13425 |
| &nbsp;&nbsp;&nbsp; GAIL India Ltd. | Gas Utilities | 14430 | 16753 |
| &nbsp;&nbsp;&nbsp; HCL Technologies Ltd. | IT Services | 5815 | 73051 |
| <sup>b</sup> HDFC Asset Management Co. Ltd., 144A | Capital Markets | 175 | 4615 |
| &nbsp;&nbsp;&nbsp; HDFC Bank Ltd. | Banks | 4540 | 89349 |
| &nbsp;&nbsp;&nbsp; Hero MotoCorp Ltd. | Automobiles | 750 | 24829 |
| &nbsp;&nbsp;&nbsp; Hindustan Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 3415 | 9707 |
| &nbsp;&nbsp;&nbsp; Hindustan Unilever Ltd. | Household Products | 2190 | 67795 |
| &nbsp;&nbsp;&nbsp; Housing Development Finance Corp. Ltd. | Thrifts & Mortgage Finance | 1925 | 61373 |
| &nbsp;&nbsp;&nbsp; Indian Oil Corp. Ltd. | Oil, Gas & Consumable Fuels | 19705 | 18221 |
| &nbsp;&nbsp;&nbsp; Indus Towers Ltd. | Diversified Telecommunication Services | 4590 | 10567 |
| &nbsp;&nbsp;&nbsp; Info Edge India Ltd. | Interactive Media & Services | 210 | 9981 |
| &nbsp;&nbsp;&nbsp; Infosys Ltd. | IT Services | 9515 | 173462 |
| &nbsp;&nbsp;&nbsp; ITC Ltd. | Tobacco | 16005 | 64142 |
| &nbsp;&nbsp;&nbsp; LIC Housing Finance Ltd. | Thrifts & Mortgage Finance | 1465 | 7334 |
| <sup>b,c</sup> LTIMindtree Ltd., 144A, Reg S | IT Services | 165 | 8707 |
| &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | Automobiles | 135 | 2038 |
| &nbsp;&nbsp;&nbsp; Maruti Suzuki India Ltd. | Automobiles | 135 | 13698 |
| &nbsp;&nbsp;&nbsp; Mphasis Ltd. | IT Services | 415 | 9896 |
| &nbsp;&nbsp;&nbsp; Muthoot Finance Ltd. | Consumer Finance | 320 | 4112 |
| &nbsp;&nbsp;&nbsp; Nestle India Ltd. | Food Products | 115 | 27254 |
| &nbsp;&nbsp;&nbsp; NMDC Ltd. | Metals & Mining | 5795 | 8619 |
| &nbsp;&nbsp;&nbsp; NMDC Steel Ltd. | Metals & Mining | 5952 | 2666 |
| &nbsp;&nbsp;&nbsp; NTPC Ltd. | Independent Power Producers & Energy Traders | 25700 | 51708 |
| &nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp. Ltd. | Oil, Gas & Consumable Fuels | 20680 | 36683 |
| &nbsp;&nbsp;&nbsp; Oracle Financial Services Software Ltd. | Software | 130 | 4751 |
| &nbsp;&nbsp;&nbsp; Piramal Enterprises Ltd. | Pharmaceuticals | 595 | 5958 |
| &nbsp;&nbsp;&nbsp; Power Finance Corp. Ltd. | Diversified Financial Services | 5800 | 9896 |
| &nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | Electric Utilities | 18845 | 48679 |
| &nbsp;&nbsp;&nbsp; REC Ltd. | Diversified Financial Services | 6405 | 9019 |
| &nbsp;&nbsp;&nbsp; Reliance Industries Ltd. | Oil, Gas & Consumable Fuels | 3025 | 93138 |

---

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| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Shriram Transport Finance Co. Ltd. | Consumer Finance | 215 | 3578 |
| Steel Authority of India Ltd. | Metals & Mining | 7635 | 7628 |
| Tata Consultancy Services Ltd. | IT Services | 1510 | 59442 |
| Tata Consumer Products Ltd. | Food Products | 890 | 8251 |
| Tata Steel Ltd. | Metals & Mining | 41595 | 56638 |
| Tech Mahindra Ltd. | IT Services | 590 | 7249 |
| Tube Investments of India Ltd. | Auto Components | 80 | 2684 |
| TVS Motor Co. Ltd. | Automobiles | 1230 | 16137 |
| Varun Beverages Ltd. | Beverages | 185 | 2957 |
| Vedanta Ltd. | Metals & Mining | 6030 | 22479 |
| <sup>a</sup> Zomato Ltd. | Internet & Catalog Retail | 11660 | 8358 |
|  |  |  | 1381252 |
| **Indonesia 1.7%** |  |  |  |
| Adaro Energy Indonesia Tbk PT, B | Oil, Gas & Consumable Fuels | 76500 | 18919 |
| Astra International Tbk PT, H | Automobiles | 113500 | 41558 |
| Bank Mandiri Persero Tbk PT, A | Banks | 6000 | 3825 |
| Bank Rakyat Indonesia Persero Tbk PT, A | Banks | 98500 | 31257 |
| Bayan Resources Tbk PT | Oil, Gas & Consumable Fuels | 26000 | 35073 |
| Bukit Asam Tbk PT, A | Oil, Gas & Consumable Fuels | 21500 | 5096 |
| Indocement Tunggal Prakarsa Tbk PT | Construction Materials | 10000 | 6359 |
| Indofood Sukses Makmur Tbk PT | Food Products | 21000 | 9072 |
| Telkom Indonesia Persero Tbk PT, B | Diversified Telecommunication Services | 59500 | 14333 |
| Unilever Indonesia Tbk PT | Household Products | 31000 | 9359 |
| United Tractors Tbk PT | Oil, Gas & Consumable Fuels | 9000 | 15075 |
|  |  |  | 189926 |
| **Kuwait 0.2%** |  |  |  |
| Mobile Telecommunications Co. KSCP | Wireless Telecommunication Services | 11170 | 20548 |
| **Malaysia 2.9%** |  |  |  |
| CIMB Group Holdings Bhd, A | Banks | 38500 | 50693 |
| DiGi.Com Bhd | Wireless Telecommunication Services | 9500 | 8627 |
| HAP Seng Consolidated Bhd | Industrial Conglomerates | 3500 | 5085 |
| Hartalega Holdings Bhd | Health Care Equipment & Supplies | 9000 | 3473 |
| IOI Corp. Bhd | Food Products | 14500 | 13332 |
| Kuala Lumpur Kepong Bhd | Food Products | 3000 | 15228 |
| Malayan Banking Bhd | Banks | 37000 | 73076 |
| Maxis Bhd | Wireless Telecommunication Services | 12000 | 10461 |
| MISC Bhd | Marine | 7000 | 11918 |
| Petronas Chemicals Group Bhd | Chemicals | 15500 | 30261 |
| Petronas Gas Bhd | Gas Utilities | 4000 | 15546 |
| RHB Bank Bhd | Banks | 20000 | 26288 |
| Sime Darby Bhd | Industrial Conglomerates | 16500 | 8615 |
| Sime Darby Plantation Bhd | Food Products | 17500 | 18473 |
| Tenaga Nasional Bhd | Electric Utilities | 15500 | 33885 |
| Westports Holdings Bhd | Transportation Infrastructure | 4500 | 3882 |
|  |  |  | 328843 |
| **Mexico 2.5%** |  |  |  |
| America Movil SAB de CV | Wireless Telecommunication Services | 39410 | 35755 |
| Arca Continental SAB de CV | Beverages | 2505 | 20341 |
| Coca-Cola Femsa SAB de CV | Beverages | 2850 | 19281 |
| Fibra Uno Administracion SA de CV | Equity Real Estate Investment Trusts (REITs) | 15060 | 17744 |
| <sup>b</sup> GMexico Transportes SAB de CV, 144A | Road & Rail | 2495 | 4850 |
| Gruma SAB de CV | Food Products | 970 | 12979 |
| Grupo Aeroportuario del Pacifico SAB de CV | Transportation Infrastructure | 1955 | 28005 |
| Grupo Aeroportuario del Sureste SAB de CV | Transportation Infrastructure | 980 | 22864 |
| Grupo Financiero Banorte SAB de CV | Banks | 6005 | 43113 |
| Grupo Mexico SAB de CV, B | Metals & Mining | 15535 | 54536 |
| Kimberly-Clark de Mexico SAB de CV, A | Household Products | 7760 | 13169 |
| Wal-Mart de Mexico SAB de CV, V | Food & Staples Retailing | 1730 | 6089 |
|  |  |  | 278726 |
| **Pakistan 0.0%<sup>†</sup>** |  |  |  |
| Oil & Gas Development Co. Ltd. | Oil, Gas & Consumable Fuels | 2940 | 1035 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; **Philippines 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Aboitiz Power Corp., A | Independent Power Producers & Energy Traders | 7500 | 4582 |
| &nbsp;&nbsp;&nbsp; Globe Telecom Inc. | Wireless Telecommunication Services | 190 | 7433 |
| &nbsp;&nbsp;&nbsp; Manila Electric Co. | Electric Utilities | 1450 | 7775 |
| &nbsp;&nbsp;&nbsp; PLDT Inc. | Wireless Telecommunication Services | 450 | 10635 |
| &nbsp;&nbsp;&nbsp; San Miguel Food and Beverage Inc. | Food Products | 3500 | 2430 |
|  |  |  | 32855 |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a,d</sup> Alrosa PJSC | Metals & Mining | 54971 |  |
| <sup>a,d</sup> Gazprom PJSC | Oil, Gas & Consumable Fuels | 44709 |  |
| <sup>a,d</sup> Inter RAO UES PJSC | Electric Utilities | 811741 |  |
| &nbsp;&nbsp; <sup>d</sup> LUKOIL PJSC | Oil, Gas & Consumable Fuels | 2268 |  |
| &nbsp;&nbsp; <sup>d</sup> MMC Norilsk Nickel PJSC | Metals & Mining | 693 |  |
| <sup>a,d</sup> Moscow Exchange MICEX-RTS PJSC | Capital Markets | 21224 |  |
| <sup>a,d</sup> Novolipetsk Steel PJSC | Metals & Mining | 35119 |  |
| &nbsp;&nbsp; <sup>d</sup> PhosAgro PJSC | Chemicals | 1073 |  |
| &nbsp;&nbsp; <sup>d</sup> PhosAgro PJSC | Chemicals | 21 |  |
| &nbsp;&nbsp; <sup>d</sup> PhosAgro PJSC | Chemicals | 1 |  |
| <sup>a,d</sup> Polymetal International PLC | Metals & Mining | 7294 |  |
| <sup>a,d</sup> Polyus PJSC | Metals & Mining | 756 |  |
| &nbsp;&nbsp; <sup>d</sup> Rosneft Oil Co. PJSC | Oil, Gas & Consumable Fuels | 20055 |  |
| &nbsp;&nbsp; <sup>d</sup> Severstal PAO | Metals & Mining | 6090 |  |
| &nbsp;&nbsp; <sup>d</sup> Surgutneftegas PJSC | Oil, Gas & Consumable Fuels | 132846 |  |
| &nbsp;&nbsp; <sup>d</sup> Tatneft PJSC | Oil, Gas & Consumable Fuels | 29792 |  |
| <sup>a,d</sup> TCS Group Holding PLC, GDR | Banks | 1778 |  |
| <sup>a,d</sup> United Co. RUSAL International PJSC | Metals & Mining | 24749 |  |
| &nbsp;&nbsp;&nbsp; **Saudi Arabia 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Advanced Petrochemical Co. | Chemicals | 720 | 8143 |
| &nbsp;&nbsp;&nbsp; Bank Al-Jazira | Banks | 2245 | 11398 |
| &nbsp;&nbsp;&nbsp; Banque Saudi Fransi | Banks | 1800 | 19447 |
| &nbsp;&nbsp;&nbsp; Dr Sulaiman Al Habib Medical Services Group Co. | Health Care Providers & Services | 265 | 15556 |
| &nbsp;&nbsp;&nbsp; Jarir Marketing Co. | Specialty Retail | 320 | 12773 |
| &nbsp;&nbsp;&nbsp; SABIC Agri-Nutrients Co. | Chemicals | 1120 | 43572 |
| &nbsp;&nbsp;&nbsp; Sahara International Petrochemical Co. | Chemicals | 1950 | 17616 |
| &nbsp;&nbsp;&nbsp; Saudi Basic Industries Corp. | Chemicals | 4240 | 100866 |
| &nbsp;&nbsp;&nbsp; Saudi Industrial Investment Group | Chemicals | 1880 | 10996 |
| &nbsp;&nbsp;&nbsp; Saudi Investment Bank | Banks | 2650 | 12228 |
| &nbsp;&nbsp;&nbsp; Saudi National Bank | Banks | 5630 | 75656 |
| &nbsp;&nbsp;&nbsp; Saudi Telecom Co. | Diversified Telecommunication Services | 9190 | 89503 |
| &nbsp;&nbsp;&nbsp; Yanbu National Petrochemical Co. | Chemicals | 1520 | 16826 |
|  |  |  | 434580 |
| &nbsp;&nbsp;&nbsp; **South Africa 5.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Absa Group Ltd. | Banks | 4805 | 54757 |
| &nbsp;&nbsp;&nbsp; African Rainbow Minerals Ltd. | Metals & Mining | 570 | 9648 |
| &nbsp;&nbsp;&nbsp; Anglo American Platinum Ltd. | Metals & Mining | 220 | 18423 |
| &nbsp;&nbsp;&nbsp; Exxaro Resources Ltd. | Oil, Gas & Consumable Fuels | 1280 | 16348 |
| &nbsp;&nbsp;&nbsp; FirstRand Ltd. | Diversified Financial Services | 26590 | 97077 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd. | Metals & Mining | 2290 | 23708 |
| &nbsp;&nbsp;&nbsp; Growthpoint Properties Ltd. | Equity Real Estate Investment Trusts (REITs) | 19460 | 16629 |
| &nbsp;&nbsp;&nbsp; Impala Platinum Holdings Ltd. | Metals & Mining | 4495 | 56307 |
| &nbsp;&nbsp;&nbsp; Kumba Iron Ore Ltd. | Metals & Mining | 275 | 7957 |
| &nbsp;&nbsp;&nbsp; Mr Price Group Ltd. | Specialty Retail | 1380 | 12891 |
| &nbsp;&nbsp;&nbsp; MultiChoice Group | Media | 2370 | 16330 |
| &nbsp;&nbsp;&nbsp; Naspers Ltd., N | Internet & Direct Marketing Retail | 305 | 50627 |
| &nbsp;&nbsp;&nbsp; Nedbank Group Ltd. | Banks | 2775 | 34670 |
| &nbsp;&nbsp;&nbsp; Old Mutual Ltd. | Insurance | 26405 | 16233 |
| &nbsp;&nbsp;&nbsp; Pick 'N Pay Stores Ltd. | Food & Staples Retailing | 1905 | 6358 |
| &nbsp;&nbsp;&nbsp; Sanlam Ltd. | Insurance | 10895 | 31196 |
| &nbsp;&nbsp;&nbsp; Santam Ltd. | Insurance | 240 | 3617 |
| &nbsp;&nbsp;&nbsp; Sibanye Stillwater Ltd. | Metals & Mining | 13900 | 36533 |
| &nbsp;&nbsp;&nbsp; SPAR Group Ltd. | Food & Staples Retailing | 1075 | 7171 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Standard Bank Group Ltd. | Banks | 7530 | 74256 |
| Tiger Brands Ltd. | Food Products | 855.0 | 10553 |
| Vodacom Group Ltd. | Wireless Telecommunication Services | 3785.0 | 27295 |
|  |  |  | 628584 |
| **South Korea 9.0%** |  |  |  |
| BNK Financial Group Inc., H | Banks | 1620.0 | 8327 |
| Cheil Worldwide Inc., A | Media | 350.0 | 6380 |
| DB Insurance Co. Ltd., A | Insurance | 270.0 | 13943 |
| Dongsuh Companies Inc., A | Food & Staples Retailing | 285.0 | 4553 |
| GS Retail Co. Ltd. | Food & Staples Retailing | 205.0 | 4564 |
| Hana Financial Group Inc. | Banks | 1555.0 | 51710 |
| Hanon Systems | Auto Components | 815.0 | 5214 |
| HD Hyundai Co. Ltd. | Machinery | 245.0 | 11063 |
| <sup>a</sup> Industrial Bank of Korea | Banks | 1435.0 | 11144 |
| <sup>a</sup> Kakao Corp. | Interactive Media & Services | 465.0 | 19527 |
| <sup>a</sup> Kakao Games Corp. | Entertainment | 115.0 | 4061 |
| <sup>a</sup> KakaoBank Corp. | Banks | 90.0 | 1730 |
| KB Financial Group Inc. | Banks | 2135.0 | 81888 |
| Kia Corp. | Automobiles | 1115.0 | 52289 |
| Korea Gas Corp. | Gas Utilities | 150.0 | 4294 |
| Korea Investment Holdings Co. Ltd. | Capital Markets | 220.0 | 9273 |
| <sup>a</sup> KT Corp. | Diversified Telecommunication Services | 665.0 | 17775 |
| KT&G Corp. | Tobacco | 585.0 | 42331 |
| Kumho Petrochemical Co. Ltd. | Chemicals | 100.0 | 9964 |
| LG Chem Ltd. | Chemicals | 40.0 | 18980 |
| LG Display Co. Ltd. | Electronic Equipment, Instruments & Components | 1265.0 | 12455 |
| LG Uplus Corp. | Diversified Telecommunication Services | 1145.0 | 10006 |
| NAVER Corp. | Interactive Media & Services | 60.0 | 8422 |
| NH Investment & Securities Co. Ltd. | Capital Markets | 800.0 | 5548 |
| POSCO Holdings Inc. | Metals & Mining | 10.0 | 2187 |
| S-1 Corp. | Commercial Services & Supplies | 100.0 | 4690 |
| Samsung Card Co. Ltd. | Consumer Finance | 120.0 | 2804 |
| Samsung Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 7360.0 | 321873 |
| Samsung Fire & Marine Insurance Co. Ltd. | Insurance | 170.0 | 26888 |
| <sup>a</sup> Samsung SDI Co. Ltd. | Electronic Equipment, Instruments & Components | 30.0 | 14021 |
| Samsung Securities Co. Ltd. | Capital Markets | 345.0 | 8581 |
| SD Biosensor Inc. | Health Care Equipment & Supplies | 230.0 | 5484 |
| Shinhan Financial Group Co. Ltd. | Banks | 2765.0 | 76970 |
| <sup>a</sup> SK Biopharmaceuticals Co. Ltd. | Pharmaceuticals | 155.0 | 8838 |
| <sup>a</sup> SK Bioscience Co. Ltd. | Biotechnology | 10.0 | 581 |
| SK Hynix Inc. | Semiconductors & Semiconductor Equipment | 1105.0 | 65540 |
| SK Telecom Co. Ltd. | Wireless Telecommunication Services | 565.0 | 21179 |
| S-Oil Corp. | Oil, Gas & Consumable Fuels | 140.0 | 9234 |
| SSANGYONG C&E Co. Ltd. | Construction Materials | 570.0 | 2596 |
| Woori Financial Group Inc. | Banks | 3550.0 | 32426 |
|  |  |  | 1019333 |
| **Taiwan 17.8%** |  |  |  |
| Acer Inc., H | Technology Hardware, Storage & Peripherals | 15000.0 | 11493 |
| ASE Technology Holding Co. Ltd., A | Semiconductors & Semiconductor Equipment | 18000.0 | 54992 |
| Asia Cement Corp. | Construction Materials | 15000.0 | 20009 |
| Asustek Computer Inc. | Technology Hardware, Storage & Peripherals | 3850.0 | 33633 |
| AUO Corp., H | Electronic Equipment, Instruments & Components | 40200.0 | 19619 |
| Catcher Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 4170.0 | 22929 |
| Cathay Financial Holding Co. Ltd., A | Insurance | 48376.0 | 62958 |
| Chicony Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 3340.0 | 9378 |
| China Development Financial Holding Corp., A | Banks | 95000.0 | 38945 |
| China Steel Corp., A | Metals & Mining | 65000.0 | 63022 |
| Chunghwa Telecom Co. Ltd. | Diversified Telecommunication Services | 6000.0 | 22059 |
| Compal Electronics Inc., H | Technology Hardware, Storage & Peripherals | 20000.0 | 14999 |
| CTBC Financial Holding Co. Ltd., A | Banks | 105000.0 | 75499 |
| Evergreen Marine Corp. Taiwan Ltd. | Marine | 6000.0 | 31820 |
| Far EasTone Telecommunications Co. Ltd. | Wireless Telecommunication Services | 9000.0 | 19297 |
| Formosa Chemicals & Fibre Corp. | Chemicals | 22400.0 | 51380 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Formosa Plastics Corp. | Chemicals | 24000 | 67778 |
| &nbsp;&nbsp;&nbsp; Fubon Financial Holding Co. Ltd. | Insurance | 9500 | 17402 |
| &nbsp;&nbsp;&nbsp; Giant Manufacturing Co. Ltd. | Leisure Products | 1000 | 6523 |
| &nbsp;&nbsp;&nbsp; Globalwafers Co. Ltd. | Semiconductors & Semiconductor Equipment | 1150 | 15995 |
| &nbsp;&nbsp;&nbsp; Highwealth Construction Corp. | Real Estate Management & Development | 7000 | 9178 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co. Ltd. | Electronic Equipment, Instruments & Components | 27200 | 88409 |
| &nbsp;&nbsp;&nbsp; Innolux Corp. | Electronic Equipment, Instruments & Components | 50730 | 18238 |
| &nbsp;&nbsp;&nbsp; Inventec Corp. | Technology Hardware, Storage & Peripherals | 15000 | 12811 |
| &nbsp;&nbsp;&nbsp; Lite-On Technology Corp. | Technology Hardware, Storage & Peripherals | 11700 | 24287 |
| &nbsp;&nbsp;&nbsp; Macronix International Co. Ltd. | Semiconductors & Semiconductor Equipment | 10000 | 10981 |
| &nbsp;&nbsp;&nbsp; MediaTek Inc. | Semiconductors & Semiconductor Equipment | 5340 | 108588 |
| &nbsp;&nbsp;&nbsp; Merida Industry Co. Ltd. | Leisure Products | 1000 | 5433 |
| &nbsp;&nbsp;&nbsp; Micro-Star International Co. Ltd. | Technology Hardware, Storage & Peripherals | 3400 | 13219 |
| &nbsp;&nbsp;&nbsp; Nan Ya Plastics Corp. | Chemicals | 30840 | 71241 |
| &nbsp;&nbsp;&nbsp; Nan Ya Printed Circuit Board Corp. | Electronic Equipment, Instruments & Components | 600 | 4431 |
| &nbsp;&nbsp;&nbsp; Nanya Technology Corp. | Semiconductors & Semiconductor Equipment | 6670 | 11111 |
| &nbsp;&nbsp;&nbsp; Nien Made Enterprise Co. Ltd. | Household Durables | 950 | 9103 |
| &nbsp;&nbsp;&nbsp; Novatek Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 3000 | 30795 |
| &nbsp;&nbsp;&nbsp; Pegatron Corp. | Technology Hardware, Storage & Peripherals | 10000 | 20660 |
| &nbsp;&nbsp;&nbsp; Phison Electronics Corp. | Semiconductors & Semiconductor Equipment | 1000 | 10249 |
| &nbsp;&nbsp;&nbsp; Powerchip Semiconductor Manufacturing Corp. | Semiconductors & Semiconductor Equipment | 15000 | 15544 |
| &nbsp;&nbsp;&nbsp; Powertech Technology Inc. | Semiconductors & Semiconductor Equipment | 3000 | 7730 |
| &nbsp;&nbsp;&nbsp; Quanta Computer Inc. | Technology Hardware, Storage & Peripherals | 15000 | 35285 |
| &nbsp;&nbsp;&nbsp; Radiant Opto-Electronics Corp. | Semiconductors & Semiconductor Equipment | 3000 | 10249 |
| &nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 2667 | 24383 |
| &nbsp;&nbsp;&nbsp; Ruentex Industries Ltd. | Textiles, Apparel & Luxury Goods | 3000 | 6344 |
| &nbsp;&nbsp;&nbsp; Simplo Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 1000 | 9273 |
| &nbsp;&nbsp;&nbsp; Sino-American Silicon Products Inc. | Semiconductors & Semiconductor Equipment | 3340 | 15159 |
| &nbsp;&nbsp;&nbsp; Synnex Technology International Corp. | Electronic Equipment, Instruments & Components | 7500 | 14446 |
| &nbsp;&nbsp;&nbsp; Taiwan Fertilizer Co. Ltd. | Chemicals | 5000 | 8703 |
| &nbsp;&nbsp;&nbsp; Taiwan Glass Industry Corp. | Building Products | 5000 | 3457 |
| &nbsp;&nbsp;&nbsp; Taiwan Mobile Co. Ltd. | Wireless Telecommunication Services | 9000 | 27730 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | Semiconductors & Semiconductor Equipment | 33700 | 491759 |
| &nbsp;&nbsp;&nbsp; Teco Electric and Machinery Co. Ltd. | Electrical Equipment | 10000 | 8964 |
| &nbsp;&nbsp;&nbsp; Tripod Technology Corp. | Electronic Equipment, Instruments & Components | 3000 | 9175 |
| &nbsp;&nbsp;&nbsp; United Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 63000 | 83425 |
| &nbsp;&nbsp;&nbsp; Vanguard International Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 5000 | 12608 |
| &nbsp;&nbsp;&nbsp; Wan Hai Lines Ltd. | Marine | 8200 | 21370 |
| &nbsp;&nbsp;&nbsp; Win Semiconductors Corp. | Semiconductors & Semiconductor Equipment | 1500 | 6662 |
| &nbsp;&nbsp;&nbsp; Winbond Electronics Corp. | Semiconductors & Semiconductor Equipment | 15000 | 9566 |
| &nbsp;&nbsp;&nbsp; Wistron Corp. | Technology Hardware, Storage & Peripherals | 15000 | 14348 |
| &nbsp;&nbsp;&nbsp; WPG Holdings Ltd. | Electronic Equipment, Instruments & Components | 8000 | 12520 |
| &nbsp;&nbsp;&nbsp; Yang Ming Marine Transport Corp. | Marine | 10000 | 21311 |
| &nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co. Ltd. | Capital Markets | 65520 | 46259 |
|  |  |  | 2024734 |
| &nbsp;&nbsp;&nbsp; **Thailand 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Advanced Info Service PCL, NVDR | Wireless Telecommunication Services | 5800 | 32655 |
| &nbsp;&nbsp;&nbsp; BTS Group Holdings PCL, A, NVDR | Road & Rail | 35500 | 8610 |
| &nbsp;&nbsp;&nbsp; Intouch Holdings PCL, NVDR | Wireless Telecommunication Services | 5900 | 13159 |
| &nbsp;&nbsp;&nbsp; IRPC PCL, NVDR | Oil, Gas & Consumable Fuels | 47000 | 4098 |
| &nbsp;&nbsp;&nbsp; Land & Houses PCL, NVDR | Real Estate Management & Development | 20500 | 5860 |
| &nbsp;&nbsp;&nbsp; Osotspa PCL, NVDR | Beverages | 8400 | 6852 |
| &nbsp;&nbsp;&nbsp; PTT Global Chemical PCL, NVDR | Chemicals | 9000 | 12278 |
| &nbsp;&nbsp;&nbsp; PTT PCL, NVDR | Oil, Gas & Consumable Fuels | 46500 | 44641 |
| &nbsp;&nbsp;&nbsp; Ratch Group PCL, NVDR | Independent Power Producers & Energy Traders | 2000 | 2469 |
| &nbsp;&nbsp;&nbsp; Ratch Group PCL | Independent Power Producers & Energy Traders | 1000 | 1234 |
| &nbsp;&nbsp;&nbsp; Srisawad Corp. PCL, NVDR | Consumer Finance | 3500 | 4926 |
| &nbsp;&nbsp;&nbsp; Thai Oil PCL, NVDR | Oil, Gas & Consumable Fuels | 5000 | 8120 |
| &nbsp;&nbsp;&nbsp; Thai Union Group PCL, NVDR | Food Products | 11500 | 5611 |
| &nbsp;&nbsp;&nbsp; The Siam Cement PCL, NVDR | Construction Materials | 1500 | 14812 |
| &nbsp;&nbsp;&nbsp; Tisco Financial Group PCL, NVDR | Banks | 2000 | 5731 |
| &nbsp;&nbsp;&nbsp; Total Access Communication PCL, NVDR | Wireless Telecommunication Services | 3500 | 4724 |
|  |  |  | 175780 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Turkey 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Arcelik A/S | Household Durables | 480 | 2877 |
| &nbsp;&nbsp;&nbsp;Enka Insaat ve Sanayi A/S | Industrial Conglomerates | 8015 | 14189 |
| &nbsp;&nbsp;&nbsp;Eregli Demir ve Celik Fabrikalari TAS | Metals & Mining | 7725 | 17027 |
| &nbsp;&nbsp;&nbsp;Ford Otomotiv Sanayi A/S | Automobiles | 415 | 11628 |
| &nbsp;&nbsp;&nbsp;Tofas Turk Otomobil Fabrikasi A/S | Automobiles | 635 | 5621 |
| &nbsp;&nbsp;&nbsp;Turk Telekomunikasyon A/S | Diversified Telecommunication Services | 3140 | 4120 |
|  |  |  | 55462 |
| &nbsp;&nbsp;&nbsp;**United Arab Emirates 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Commercial Bank PJSC | Banks | 15300 | 37493 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Islamic Bank PJSC | Banks | 7610 | 18877 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi National Oil Co. for Distribution PJSC | Specialty Retail | 15780 | 18948 |
| &nbsp;&nbsp;&nbsp;Aldar Properties PJSC | Real Estate Management & Development | 6795 | 8196 |
| &nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC | Banks | 15460 | 23994 |
| &nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | Banks | 7235 | 25610 |
| &nbsp;&nbsp;&nbsp;Emirates Telecommunications Group Co. PJSC | Diversified Telecommunication Services | 5590 | 34794 |
| &nbsp;&nbsp;<sup>a</sup> International Holding Co. PJSC | Industrial Conglomerates | 525 | 58609 |
|  |  |  | 226521 |
| &nbsp;&nbsp;&nbsp;**United States 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;JBS SA | Food Products | 3500 | 14577 |
| &nbsp;&nbsp;&nbsp;Parade Technologies Ltd. | Semiconductors & Semiconductor Equipment | 385 | 9683 |
|  |  |  | 24260 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $12,691,958)** |  |  | 11068987 |
| &nbsp;&nbsp;&nbsp;**Preferred Stocks 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Brazil 1.3%** |  |  |  |
| &nbsp;&nbsp;<sup>e</sup> Banco Bradesco SA, 4.052%, pfd. | Banks | 8500 | 24390 |
| &nbsp;&nbsp;<sup>e</sup> Braskem SA, 7.138%, pfd., A | Chemicals | 1000 | 4500 |
| &nbsp;&nbsp;<sup>e</sup> Cia Energetica de Minas Gerais, 12.217%, pfd. | Electric Utilities | 8001 | 16882 |
| &nbsp;&nbsp;<sup>e</sup> Gerdau SA, 17.194%, pfd. | Metals & Mining | 5500 | 30595 |
| &nbsp;&nbsp;<sup>e</sup> Petroleo Brasileiro SA, 42.90%, pfd. | Oil, Gas & Consumable Fuels | 15000 | 69606 |
|  |  |  | 145973 |
| &nbsp;&nbsp;&nbsp;**Chile 0.4%** |  |  |  |
| &nbsp;&nbsp;<sup>e</sup> Sociedad Quimica y Minera de Chile SA, 0.011%, |  |  |  |
| pfd., B | Chemicals | 560 | 45092 |
| &nbsp;&nbsp;&nbsp;**Colombia 0.2%** |  |  |  |
| &nbsp;&nbsp;<sup>e</sup> Bancolombia SA, 9.299%, pfd. | Banks | 2465 | 17056 |
| &nbsp;&nbsp;<sup>e</sup> Grupo Aval Acciones y Valores SA, 2.943%, pfd. | Banks | 21875 | 2571 |
|  |  |  | 19627 |
| &nbsp;&nbsp;&nbsp;**Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> Surgutneftegas PJSC, pfd. | Oil, Gas & Consumable Fuels | 162582 |  |
| &nbsp;&nbsp;&nbsp;**South Korea 0.4%** |  |  |  |
| &nbsp;&nbsp;<sup>e</sup> Kumho Petrochemical Co. Ltd., 12.407%, pfd. | Chemicals | 15 | 961 |
| &nbsp;&nbsp;<sup>e</sup> LG Chem Ltd., 4.342%, pfd. | Chemicals | 5 | 1097 |
| &nbsp;&nbsp;<sup>e</sup> Samsung Electronics Co. Ltd., 2,145%, pfd. | Technology Hardware, Storage & Peripherals | 1185 | 47325 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| <sup>e</sup> Samsung Fire & Marine Insurance Co. Ltd., |  |  |  |
| 7.846%, pfd. | Insurance | 15 | 1815 |
|  |  |  | 51198 |
| &nbsp;&nbsp;&nbsp;**Total Preferred Stocks (Cost $368,218)** |  |  | 261890 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $13,060,176) 99.7%** |  |  | 11330877 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.3%** |  |  | 37391 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $11368268 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $321,699, representing 2.8% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $321,699, representing 2.8% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $321,699, representing 2.8% of net assets. |  |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. |
| Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption |
| from registration. At December 31, 2022, the value of was $71,956, representing 0.6% of net assets. | from registration. At December 31, 2022, the value of was $71,956, representing 0.6% of net assets. |  |  |
| <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. | <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. |  |  |
| <sup>e</sup>Variable rate security. The rate shown represents the yield at period end. |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** | **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | Long | 1 | $47970 | 3/17/23 | $(562) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **GDR** | Global Depositary Receipt |  |  |  |  |  |
| **NVDR** | Non-Voting Depositary Receipt |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin Exponential Data ETF** | **Country** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 98.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Capital Markets 7.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems Inc. | United States | 114 | $45738 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | United States | 50 | 13931 |
| &nbsp;&nbsp;&nbsp; MSCI Inc. | United States | 112 | 52099 |
| &nbsp;&nbsp;&nbsp; S&P Global Inc. | United States | 147 | 49236 |
|  |  |  | 161004 |
| &nbsp;&nbsp;&nbsp; **Communications Equipment 2.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Arista Networks Inc. | United States | 445 | 54001 |
| &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments & Components 2.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Keysight Technologies Inc. | United States | 309 | 52861 |
| &nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) 12.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Crown Castle Inc. | United States | 624 | 84639 |
| &nbsp;&nbsp;&nbsp; Equinix Inc. | United States | 164 | 107425 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. | United States | 325 | 91101 |
|  |  |  | 283165 |
| &nbsp;&nbsp;&nbsp; **Health Care Equipment & Supplies 1.6%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Dexcom Inc. | United States | 316 | 35784 |
| &nbsp;&nbsp;&nbsp; **Interactive Media & Services 6.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., A | United States | 1012 | 89289 |
| &nbsp;&nbsp; <sup>a</sup> ZoomInfo Technologies Inc., A | United States | 1814 | 54619 |
|  |  |  | 143908 |
| &nbsp;&nbsp;&nbsp; **IT Services 16.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Accenture PLC, A | United States | 187 | 49899 |
| &nbsp;&nbsp; <sup>a</sup> Endava PLC | United Kingdom | 158 | 12087 |
| &nbsp;&nbsp; <sup>a</sup> EPAM Systems Inc. | United States | 31 | 10160 |
| &nbsp;&nbsp; <sup>a</sup> Gartner Inc. | United States | 170 | 57144 |
| &nbsp;&nbsp; <sup>a</sup> Globant SA | United States | 59 | 9921 |
| &nbsp;&nbsp; <sup>a</sup> MongoDB Inc. | United States | 572 | 112592 |
| &nbsp;&nbsp; <sup>a</sup> Snowflake Inc., A | United States | 688 | 98756 |
| &nbsp;&nbsp; <sup>a</sup> Thoughtworks Holding Inc. | United States | 996 | 10149 |
|  |  |  | 360708 |
| &nbsp;&nbsp;&nbsp; **Professional Services 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; TransUnion | United States | 189 | 10726 |
| &nbsp;&nbsp;&nbsp; **Software 46.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Cloudflare Inc., A | United States | 1746 | 78937 |
| &nbsp;&nbsp; <sup>a</sup> Confluent Inc., A | United States | 998 | 22195 |
| &nbsp;&nbsp; <sup>a</sup> Crowdstrike Holdings Inc., A | United States | 589 | 62016 |
| &nbsp;&nbsp; <sup>a</sup> Datadog Inc., A | United States | 1399 | 102826 |
| &nbsp;&nbsp; <sup>a</sup> Fair Isaac Corp. | United States | 110 | 65844 |
| &nbsp;&nbsp; <sup>a</sup> Fortinet Inc. | United States | 1016 | 49672 |
| &nbsp;&nbsp; <sup>a</sup> Gitlab Inc., A | United States | 1322 | 60072 |
| &nbsp;&nbsp; <sup>a</sup> HubSpot Inc. | United States | 86 | 24865 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | United States | 628 | 150607 |
| &nbsp;&nbsp; <sup>a</sup> Monday.com Ltd. | United States | 379 | 46238 |
| &nbsp;&nbsp; <sup>a</sup> Palo Alto Networks Inc. | United States | 580 | 80933 |
| &nbsp;&nbsp; <sup>a</sup> Qualtrics International Inc. | United States | 1139 | 11823 |
| &nbsp;&nbsp; <sup>a</sup> Salesforce Inc. | United States | 168 | 22275 |
| &nbsp;&nbsp; <sup>a</sup> SentinelOne Inc., A | United States | 1927 | 28115 |
| &nbsp;&nbsp; <sup>a</sup> ServiceNow Inc. | United States | 239 | 92796 |
| &nbsp;&nbsp; <sup>a</sup> Sprinklr Inc. | United States | 1235 | 10090 |
| &nbsp;&nbsp; <sup>a</sup> Sprout Social Inc., A | United States | 215 | 12139 |
| &nbsp;&nbsp; <sup>a</sup> The Trade Desk Inc., A | United States | 820 | 36761 |
| &nbsp;&nbsp;&nbsp; Trend Micro Inc. | Japan | 909 | 42300 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Zscaler Inc. | United States | 302 | 33794 |
|  |  |  | 1034298 |
| &nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services 3.6%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> T-Mobile US Inc. | United States | 578 | 80920 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $2,831,477)** |  |  | 2217375 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(Cost $2,831,477)** |  |  | 2217375 |
| &nbsp;&nbsp;&nbsp; **Short-Term Investments 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Money Market Funds 1.1%** |  |  |  |
| <sup>b,c</sup> Institutional Fiduciary Trust Portfolio, 3.84% | United States | 25336 | 25336 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $25,336)** |  |  | 25336 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $2,856,813) 99.9%** |  |  | 2242711 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.1%** |  |  | 1179 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $2243890 |

---

<sup>a</sup>Non-income producing.<br> <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end.<br> <sup>c</sup>See Note 3(d) regarding investments in affiliated management investment companies.<br>**Selected Portfolio**

---

| | |
|:---|:---|
| **REIT** | Real Estate Investment Trust |
| **SBA** | Small Business Administration |

---

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Asia ex Japan ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Cambodia 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> NagaCorp Ltd. | Hotels, Restaurants & Leisure | 8075 | $7118 |
| &nbsp;&nbsp;&nbsp; **China 34.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; 360 DigiTech Inc. | Consumer Finance | 634 | 12908 |
| &nbsp;&nbsp;&nbsp; 360 Security Technology Inc., A | Software | 2500 | 2363 |
| &nbsp;&nbsp; <sup>b</sup> 3SBio Inc., A, 144A | Biotechnology | 7000 | 7444 |
| &nbsp;&nbsp; <sup>a</sup> AAC Technologies Holdings Inc., H | Electronic Equipment, Instruments & Components | 3500 | 8000 |
| &nbsp;&nbsp;&nbsp; ADAMA Ltd. | Chemicals | 400 | 523 |
| &nbsp;&nbsp;&nbsp; Addsino Co. Ltd., A | Communications Equipment | 700 | 950 |
| &nbsp;&nbsp; <sup>a</sup> Advanced Micro-Fabrication Equipment Inc. |  |  |  |
| China, A | Semiconductors & Semiconductor Equipment | 175 | 2479 |
| &nbsp;&nbsp;&nbsp; AECC Aero-Engine Control Co. Ltd., A | Aerospace & Defense | 400 | 1482 |
| &nbsp;&nbsp;&nbsp; AECC Aviation Power Co. Ltd., A | Aerospace & Defense | 900 | 5500 |
| &nbsp;&nbsp; <sup>a</sup> Agile Group Holdings Ltd. | Real Estate Management & Development | 8000 | 2368 |
| &nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd., A | Banks | 33300 | 14006 |
| &nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd., H | Banks | 147000 | 50476 |
| &nbsp;&nbsp;&nbsp; Aier Eye Hospital Group Co. Ltd., A | Health Care Providers & Services | 2504 | 11245 |
| &nbsp;&nbsp; <sup>a</sup> Air China Ltd., A | Airlines | 2100 | 3217 |
| &nbsp;&nbsp; <sup>a</sup> Air China Ltd., H | Airlines | 8000 | 7124 |
| &nbsp;&nbsp;&nbsp; Airtac International Group, A | Machinery | 770 | 23324 |
| <sup>a,b</sup> Akeso Inc., 144A | Biotechnology | 2000 | 11019 |
| &nbsp;&nbsp; <sup>a</sup> Alibaba Group Holding Ltd., A | Internet & Direct Marketing Retail | 72700 | 803384 |
| &nbsp;&nbsp; <sup>b</sup> A-Living Smart City Services Co. Ltd., H, 144A | Commercial Services & Supplies | 3500 | 4220 |
| &nbsp;&nbsp;&nbsp; All Winner Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 400 | 1177 |
| &nbsp;&nbsp; <sup>a</sup> Alpha Group, A | Leisure Products | 400 | 269 |
| &nbsp;&nbsp;&nbsp; Aluminum Corp. of China Ltd., A | Metals & Mining | 4200 | 2713 |
| &nbsp;&nbsp;&nbsp; Aluminum Corp. of China Ltd., H | Metals & Mining | 20000 | 8507 |
| &nbsp;&nbsp; <sup>a</sup> Amlogic Shanghai Co. Ltd. | Semiconductors & Semiconductor Equipment | 175 | 1783 |
| &nbsp;&nbsp; <sup>a</sup> An Hui Wenergy Co. Ltd., A | Independent Power Producers & Energy Traders | 1100 | 712 |
| &nbsp;&nbsp;&nbsp; Angang Steel Co. Ltd., A | Metals & Mining | 1800 | 695 |
| &nbsp;&nbsp;&nbsp; Angang Steel Co. Ltd., H | Metals & Mining | 8000 | 2183 |
| &nbsp;&nbsp;&nbsp; Angel Yeast Co. Ltd., A | Food Products | 400 | 2614 |
| &nbsp;&nbsp;&nbsp; Anhui Anke Biotechnology Group Co. Ltd., A | Pharmaceuticals | 532 | 720 |
| &nbsp;&nbsp;&nbsp; Anhui Conch Cement Co. Ltd., A | Construction Materials | 1400 | 5540 |
| &nbsp;&nbsp;&nbsp; Anhui Conch Cement Co. Ltd., H | Construction Materials | 5690 | 19902 |
| &nbsp;&nbsp;&nbsp; Anhui Expressway Co. Ltd., A | Transportation Infrastructure | 400 | 423 |
| &nbsp;&nbsp;&nbsp; Anhui Expressway Co. Ltd., H | Transportation Infrastructure | 2000 | 1612 |
| &nbsp;&nbsp;&nbsp; Anhui Gujing Distillery Co. Ltd., A | Beverages | 100 | 3858 |
| &nbsp;&nbsp;&nbsp; Anhui Gujing Distillery Co. Ltd., B | Beverages | 600 | 9609 |
| &nbsp;&nbsp;&nbsp; Anhui Zhongding Sealing Parts Co. Ltd., A | Auto Components | 400 | 837 |
| &nbsp;&nbsp;&nbsp; Anjoy Foods Group Co. Ltd., A | Food Products | 100 | 2340 |
| &nbsp;&nbsp;&nbsp; Anker Innovations Technology Co. Ltd., A | Technology Hardware, Storage & Peripherals | 100 | 857 |
| &nbsp;&nbsp;&nbsp; ANTA Sports Products Ltd., A | Textiles, Apparel & Luxury Goods | 5600 | 73400 |
| &nbsp;&nbsp;&nbsp; Apeloa Pharmaceutical Co. Ltd., A | Pharmaceuticals | 400 | 1245 |
| &nbsp;&nbsp;&nbsp; Asymchem Laboratories Tianjin Co. Ltd., A | Pharmaceuticals | 40 | 856 |
| &nbsp;&nbsp;&nbsp; Autohome Inc., ADR | Software | 306 | 9364 |
| &nbsp;&nbsp;&nbsp; Avary Holding Shenzhen Co. Ltd., A | Electronic Equipment, Instruments & Components | 400 | 1586 |
| &nbsp;&nbsp;&nbsp; AVIC Electromechanical Systems Co. Ltd., A | Aerospace & Defense | 1400 | 2034 |
| &nbsp;&nbsp;&nbsp; AVIC Industry-Finance Holdings Co. Ltd., A | Diversified Financial Services | 3200 | 1517 |
| &nbsp;&nbsp;&nbsp; AviChina Industry & Technology Co. Ltd., H | Aerospace & Defense | 13000 | 5846 |
| &nbsp;&nbsp;&nbsp; AVICOPTER PLC, A | Aerospace & Defense | 200 | 1342 |
| &nbsp;&nbsp; <sup>b</sup> BAIC Motor Corp. Ltd., A, 144A | Automobiles | 12500 | 3315 |
| &nbsp;&nbsp; <sup>a</sup> Baidu Inc. | Interactive Media & Services | 10850 | 155279 |
| &nbsp;&nbsp;&nbsp; Bank of Beijing Co. Ltd., A | Banks | 7000 | 4361 |
| &nbsp;&nbsp;&nbsp; Bank of Changsha Co. Ltd., A | Banks | 1100 | 1075 |
| &nbsp;&nbsp;&nbsp; Bank of Chengdu Co. Ltd., A | Banks | 400 | 885 |
| &nbsp;&nbsp;&nbsp; Bank of China Ltd., A | Banks | 15800 | 7216 |
| &nbsp;&nbsp;&nbsp; Bank of China Ltd., H | Banks | 371000 | 134996 |
| &nbsp;&nbsp;&nbsp; Bank of Communications Co. Ltd., A | Banks | 14000 | 9591 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Communications Co. Ltd., H | Banks | 37000 | 21285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Guiyang Co. Ltd., A | Banks | 1100 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Hangzhou Co. Ltd., A | Banks | 2100 | 3970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Jiangsu Co. Ltd., A | Banks | 2080 | 2192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nanjing Co. Ltd., A | Banks | 3200 | 4819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ningbo Co. Ltd., A | Banks | 2480 | 11631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Qingdao Co. Ltd., A | Banks | 1400 | 680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Shanghai Co. Ltd., A | Banks | 5380 | 4596 |
| &nbsp;&nbsp; <sup>a</sup> Bank of Zhengzhou Co. Ltd., A | Banks | 3084 | 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baoshan Iron & Steel Co. Ltd., A | Metals & Mining | 6300 | 5090 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBMG Corp., A | Construction Materials | 2100 | 771 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBMG Corp., H | Construction Materials | 14000 | 1812 |
| &nbsp;&nbsp; <sup>a</sup> BeiGene Ltd. | Biotechnology | 3000 | 51583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Capital Development Co. Ltd., A | Real Estate Management & Development | 700 | 576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Capital Eco-Environment Protection Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Water Utilities | 2800 | 1145 |
| &nbsp;&nbsp; <sup>a</sup> Beijing Capital International Airport Co. Ltd., A | Transportation Infrastructure | 10000 | 7316 |
| &nbsp;&nbsp; <sup>a</sup> Beijing Dabeinong Technology Group Co. Ltd., A | Food Products | 1100 | 1415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Easpring Material Technology Co. Ltd. | Chemicals | 200 | 1630 |
| &nbsp;&nbsp; <sup>a</sup> Beijing E-Hualu Information Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Software | 400 | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Enlight Media Co. Ltd., H | Entertainment | 1100 | 1377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Enterprises Holdings Ltd., H | Industrial Conglomerates | 2500 | 8008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Haixin Energy Technology Co. Ltd., A | Chemicals | 700 | 441 |
| &nbsp;&nbsp; <sup>a</sup> Beijing Jetsen Technology Co. Ltd., A | Software | 1100 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Jingneng Clean Energy Co. Ltd., H | Independent Power Producers & Energy Traders | 10000 | 2357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Kingsoft Office Software Inc., A | Software | 124 | 4740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing New Building Materials PLC, A | Building Products | 700 | 2618 |
| &nbsp;&nbsp; <sup>a</sup> Beijing Orient National Communication Science & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Co. Ltd., A | Software | 400 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Originwater Technology Co. Ltd., H | Commercial Services & Supplies | 247 | 169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shiji Information Technology Co. Ltd., A | Software | 700 | 1517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shougang Co. Ltd., A | Metals & Mining | 1800 | 981 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shunxin Agriculture Co. Ltd., A | Beverages | 400 | 1724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Sinnet Technology Co. Ltd., A | IT Services | 700 | 826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing SL Pharmaceutical Co. Ltd., H | Biotechnology | 400 | 475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Tongrentang Co. Ltd., A | Pharmaceuticals | 500 | 3229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Ultrapower Software Co. Ltd., A | IT Services | 700 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing United Information Technology Co. Ltd., A | Trading Companies & Distributors | 145 | 1853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Wantai Biological Pharmacy Enterprise Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Biotechnology | 145 | 2655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Yanjing Brewery Co. Ltd., A | Beverages | 700 | 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Yuanliu Hongyuan Electronic Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Electronic Equipment, Instruments & Components | 100 | 1462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Zhong Ke San Huan High-Tech Co. Ltd., A | Electronic Equipment, Instruments & Components | 445 | 877 |
| &nbsp;&nbsp;&nbsp;&nbsp; BGI Genomics Co. Ltd., A | Biotechnology | 100 | 747 |
| &nbsp;&nbsp; <sup>a</sup> Bilibili Inc. | Entertainment | 1120 | 26806 |
| &nbsp;&nbsp; <sup>b</sup> Blue Moon Group Holdings Ltd., 144A | Household Products | 3500 | 2350 |
| &nbsp;&nbsp; <sup>a</sup> Blue Sail Medical Co. Ltd., A | Health Care Equipment & Supplies | 400 | 450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bluefocus Intelligent Communications Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Media | 700 | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bluestar Adisseo Co., A | Chemicals | 400 | 478 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | Banks | 17000 | 57938 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOC International China Co. Ltd., A | Capital Markets | 400 | 611 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 13000 | 6351 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., B | Electronic Equipment, Instruments & Components | 4900 | 2160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bright Dairy & Food Co. Ltd., A | Food Products | 400 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp; BTG Hotels Group Co. Ltd., A | Hotels, Restaurants & Leisure | 400 | 1434 |
| &nbsp;&nbsp; <sup>b</sup> Budweiser Brewing Co. APAC Ltd., H, 144A | Beverages | 8400 | 26422 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd., A | Automobiles | 600 | 22284 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd., H | Automobiles | 4000 | 98707 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Electronic International Co. Ltd. | Communications Equipment | 3500 | 11256 |
| &nbsp;&nbsp;&nbsp;&nbsp; By-health Co. Ltd., A | Personal Products | 700 | 2309 |
| &nbsp;&nbsp;&nbsp;&nbsp; C&S Paper Co. Ltd., A | Household Products | 400 | 794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caitong Securities Co. Ltd., A | Capital Markets | 1820 | 1873 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Camel Group Co. Ltd., A | Electrical Equipment | 460.0 | 543.0 |
| &nbsp;&nbsp;&nbsp; CanSino Biologics Inc., A | Pharmaceuticals | 23.0 | 485.0 |
| &nbsp;&nbsp; <sup>b</sup> CanSino Biologics Inc., H, 144A | Pharmaceuticals | 400.0 | 3421.0 |
| &nbsp;&nbsp;&nbsp; CECEP Solar Energy Co. Ltd., H | Semiconductors & Semiconductor Equipment | 1100.0 | 1165.0 |
| &nbsp;&nbsp;&nbsp; CECEP Wind-Power Corp., A | Independent Power Producers & Energy Traders | 2340.0 | 1289.0 |
| &nbsp;&nbsp;&nbsp; Central China Securities Co. Ltd., A | Capital Markets | 1100.0 | 579.0 |
| &nbsp;&nbsp;&nbsp; Central China Securities Co. Ltd., H | Capital Markets | 4000.0 | 579.0 |
| &nbsp;&nbsp;&nbsp; CGN Power Co. Ltd., A | Independent Power Producers & Energy Traders | 2800.0 | 1089.0 |
| &nbsp;&nbsp; <sup>b</sup> CGN Power Co. Ltd., H, 144A | Independent Power Producers & Energy Traders | 56000.0 | 13345.0 |
| &nbsp;&nbsp;&nbsp; Changchun High & New Technology Industry |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group Inc., A | Pharmaceuticals | 100.0 | 2406.0 |
| &nbsp;&nbsp;&nbsp; Changjiang Securities Co. Ltd., A | Capital Markets | 2100.0 | 1618.0 |
| &nbsp;&nbsp;&nbsp; Changzhou Xingyu Automotive Lighting Systems |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Auto Components | 100.0 | 1841.0 |
| &nbsp;&nbsp;&nbsp; Chaozhou Three-Circle Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 700.0 | 3107.0 |
| &nbsp;&nbsp;&nbsp; Chengdu Xingrong Environment Co. Ltd., A | Water Utilities | 1400.0 | 989.0 |
| &nbsp;&nbsp;&nbsp; Chengxin Lithium Group Co. Ltd., A | Paper & Forest Products | 400.0 | 2167.0 |
| &nbsp;&nbsp;&nbsp; China Baoan Group Co. Ltd., A | Industrial Conglomerates | 1100.0 | 1922.0 |
| &nbsp;&nbsp;&nbsp; China Cinda Asset Management Co. Ltd., H | Capital Markets | 46000.0 | 6365.0 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., A | Banks | 3900.0 | 2807.0 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., H | Banks | 42000.0 | 18619.0 |
| &nbsp;&nbsp;&nbsp; China Coal Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 1800.0 | 2243.0 |
| &nbsp;&nbsp;&nbsp; China Coal Energy Co. Ltd., H | Oil, Gas & Consumable Fuels | 9000.0 | 7322.0 |
| &nbsp;&nbsp;&nbsp; China Communications Services Corp. Ltd., H | Diversified Telecommunication Services | 14000.0 | 5112.0 |
| &nbsp;&nbsp; <sup>a</sup> China Conch Environment Protection Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Commercial Services & Supplies | 7000.0 | 2843.0 |
| &nbsp;&nbsp;&nbsp; China Conch Venture Holdings Ltd. | Construction & Engineering | 7440.0 | 16167.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., A | Banks | 3500.0 | 2848.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., H | Banks | 455000.0 | 285069.0 |
| &nbsp;&nbsp;&nbsp; China CSSC Holdings Ltd., A | Machinery | 1600.0 | 5152.0 |
| &nbsp;&nbsp; <sup>b</sup> China East Education Holdings Ltd., A, 144A | Diversified Consumer Services | 2000.0 | 1596.0 |
| &nbsp;&nbsp; <sup>a</sup> China Eastern Airlines Corp. Ltd., A | Airlines | 3900.0 | 3117.0 |
| &nbsp;&nbsp; <sup>a</sup> China Eastern Airlines Corp. Ltd., H | Airlines | 8000.0 | 3249.0 |
| &nbsp;&nbsp;&nbsp; China Energy Engineering Corp. Ltd. | Construction & Engineering | 11600.0 | 3839.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., A | Banks | 15100.0 | 6700.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., H | Banks | 15000.0 | 4574.0 |
| <sup>a,c</sup> China Evergrande Group, A | Real Estate Management & Development | 24000.0 | 2308.0 |
| &nbsp;&nbsp; <sup>b</sup> China Feihe Ltd., 144A, Reg S | Food Products | 20000.0 | 17015.0 |
| &nbsp;&nbsp;&nbsp; China Galaxy Securities Co. Ltd., A | Capital Markets | 700.0 | 940.0 |
| &nbsp;&nbsp;&nbsp; China Galaxy Securities Co. Ltd., H | Capital Markets | 18500.0 | 9031.0 |
| &nbsp;&nbsp;&nbsp; China Great Wall Securities Co. Ltd., A | Capital Markets | 700.0 | 838.0 |
| &nbsp;&nbsp;&nbsp; China Greatwall Technology Group Co. Ltd., A | Technology Hardware, Storage & Peripherals | 1100.0 | 1622.0 |
| &nbsp;&nbsp;&nbsp; China Green Electricity Investment of Tianjin Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Real Estate Management & Development | 700.0 | 1339.0 |
| &nbsp;&nbsp;&nbsp; China Hongqiao Group Ltd. | Metals & Mining | 11000.0 | 10387.0 |
| &nbsp;&nbsp;&nbsp; China International Capital Corp. Ltd., A | Capital Markets | 400.0 | 2204.0 |
| &nbsp;&nbsp; <sup>b</sup> China International Capital Corp. Ltd., H, 144A | Capital Markets | 7700.0 | 14700.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 750.0 | 763.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Machinery | 3700.0 | 2806.0 |
| &nbsp;&nbsp;&nbsp; China Jinmao Holdings Group Ltd., A | Real Estate Management & Development | 32000.0 | 6888.0 |
| &nbsp;&nbsp;&nbsp; China Jushi Co. Ltd., A | Construction Materials | 1571.0 | 3113.0 |
| &nbsp;&nbsp;&nbsp; China Lesso Group Holdings Ltd. | Building Products | 5000.0 | 5221.0 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co. Ltd., H | Insurance | 36000.0 | 61807.0 |
| <sup>a,b</sup> China Literature Ltd., A, 144A | Media | 1400.0 | 5435.0 |
| &nbsp;&nbsp;&nbsp; China Longyuan Power Group Corp. Ltd., A | Independent Power Producers & Energy Traders | 17000.0 | 20779.0 |
| &nbsp;&nbsp;&nbsp; China Medical System Holdings Ltd. | Pharmaceuticals | 6000.0 | 9440.0 |
| &nbsp;&nbsp;&nbsp; China Meheco Co. Ltd., A | Trading Companies & Distributors | 560.0 | 1395.0 |
| &nbsp;&nbsp;&nbsp; China Meidong Auto Holdings Ltd. | Specialty Retail | 2000.0 | 4105.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., A | Banks | 7100.0 | 38236.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., H | Banks | 18500.0 | 103463.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Energy Shipping Co. Ltd., A | Oil, Gas & Consumable Fuels | 3500.0 | 2828.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Expressway Network & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Holdings Co. Ltd., A | Transportation Infrastructure | 700.0 | 786.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Port Holdings Co. Ltd. | Transportation Infrastructure | 7000 | 10260 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Property Operation & Service |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Real Estate Management & Development | 400 | 889 |
| &nbsp;&nbsp; <sup>b</sup> China Merchants Securities Co. Ltd., A, 144A | Capital Markets | 2200 | 2156 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Securities Co. Ltd., A | Capital Markets | 2720 | 5229 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Shekou Industrial Zone Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Real Estate Management & Development | 2500 | 4564 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., A | Banks | 12300 | 6133 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., H | Banks | 31500 | 10897 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Accord Medicines Corp. Ltd., B | Health Care Providers & Services | 400 | 937 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., H | Construction Materials | 22750 | 18684 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Chemical Engineering Co. Ltd., A | Construction & Engineering | 2100 | 2410 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Nuclear Power Co. Ltd., A | Independent Power Producers & Energy Traders | 5800 | 5030 |
| &nbsp;&nbsp; <sup>a</sup> China Nonferrous Metal Industry's Foreign |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Engineering and Construction Co. Ltd., A | Metals & Mining | 700 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Northern Rare Earth Group High-Tech Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 1400 | 5069 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Oilfield Services Ltd., A | Energy Equipment & Services | 700 | 1677 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Oilfield Services Ltd., H | Energy Equipment & Services | 8000 | 9727 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Overseas Land & Investment Ltd., A | Real Estate Management & Development | 18500 | 48828 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., A | Insurance | 2500 | 8860 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., H | Insurance | 12600 | 28058 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., A | Oil, Gas & Consumable Fuels | 11600 | 7310 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., H | Oil, Gas & Consumable Fuels | 124000 | 59895 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Group Ltd., A | Construction & Engineering | 7000 | 5625 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Group Ltd., H | Construction & Engineering | 21000 | 11085 |
| &nbsp;&nbsp; <sup>b</sup> China Railway Signal & Communication Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., 144A | Electronic Equipment, Instruments & Components | 7000 | 2287 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Signal & Communication Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 2333 | 1615 |
| &nbsp;&nbsp; <sup>a</sup> China Rare Earth Resources And Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 400 | 1901 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Reinsurance Group Corp., H | Insurance | 35000 | 2220 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Boya Bio-pharmaceutical Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Biotechnology | 200 | 1057 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Cement Holdings Ltd. | Construction Materials | 12000 | 6365 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Double Crane Pharmaceutical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Pharmaceuticals | 400 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Microelectronics Ltd., A | Semiconductors & Semiconductor Equipment | 343 | 2610 |
| &nbsp;&nbsp; <sup>b</sup> China Resources Mixc Lifestyle Services Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Real Estate Management & Development | 2600 | 13208 |
| &nbsp;&nbsp; <sup>b</sup> China Resources Pharmaceutical Group Ltd., A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Pharmaceuticals | 7500 | 6073 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Power Holdings Co. Ltd. | Independent Power Producers & Energy Traders | 8800 | 17995 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Sanjiu Medical & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceutical Co. Ltd., B | Pharmaceuticals | 400 | 2706 |
| &nbsp;&nbsp; <sup>a</sup> China Ruyi Holdings Ltd. | Internet & Catalog Retail | 16000 | 3997 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 2500 | 9980 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., H | Oil, Gas & Consumable Fuels | 16563 | 47854 |
| &nbsp;&nbsp;&nbsp;&nbsp; China South Publishing & Media Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Media | 700 | 1010 |
| &nbsp;&nbsp; <sup>a</sup> China Southern Airlines Co. Ltd., A | Airlines | 3900 | 4284 |
| &nbsp;&nbsp; <sup>a</sup> China Southern Airlines Co. Ltd., H | Airlines | 8000 | 5207 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Southern Power Grid Energy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Efficiency&Clean Energy Co. Ltd., A | Commercial Services & Supplies | 1100 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp; China State Construction Engineering Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Construction & Engineering | 14700 | 11537 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Suntien Green Energy Corp. Ltd. | Oil, Gas & Consumable Fuels | 9000 | 3748 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Taiping Insurance Holdings Co. Ltd. | Insurance | 7000 | 8718 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Three Gorges Renewables Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 8800 | 7186 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Tourism Group Duty Free Corp. Ltd., A | Hotels, Restaurants & Leisure | 600 | 18734 |
| &nbsp;&nbsp; <sup>b</sup> China Tower Corp. Ltd., H, 144A, Reg S | Diversified Telecommunication Services | 232000 | 24969 |
| &nbsp;&nbsp; <sup>a</sup> China TransInfo Technology Co. Ltd., A | IT Services | 400 | 516 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> China Travel International Investment Hong Kong |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Hotels, Restaurants & Leisure | 14000.0 | 3175.0 |
| China United Network Communications Ltd., A | Wireless Telecommunication Services | 8800.0 | 5698.0 |
| China Vanke Co. Ltd., A | Real Estate Management & Development | 3500.0 | 9207.0 |
| China Vanke Co. Ltd., H | Real Estate Management & Development | 9500.0 | 19231.0 |
| China World Trade Center Co. Ltd., A | Real Estate Management & Development | 400.0 | 915.0 |
| China Yangtze Power Co. Ltd., A | Independent Power Producers & Energy Traders | 7000.0 | 21246.0 |
| China Zhenhua Group Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 200.0 | 3302.0 |
| <sup>a</sup> China Zheshang Bank Co. Ltd., A | Banks | 2500.0 | 1062.0 |
| Chinalin Securities Co. Ltd., A | Capital Markets | 400.0 | 762.0 |
| Chinese Universe Publishing and Media Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Media | 400.0 | 553.0 |
| Chongqing Brewery Co. Ltd., A | Beverages | 200.0 | 3682.0 |
| Chongqing Changan Automobile Co. Ltd., A | Automobiles | 2820.0 | 5017.0 |
| Chongqing Changan Automobile Co. Ltd., B | Automobiles | 8338.0 | 3931.0 |
| Chongqing Fuling Zhacai Group Co. Ltd., A | Food Products | 400.0 | 1490.0 |
| Chongqing Rural Commercial Bank Co. Ltd., A | Banks | 1800.0 | 918.0 |
| Chongqing Rural Commercial Bank Co. Ltd., H | Banks | 12000.0 | 4105.0 |
| Chongqing Water Group Co. Ltd., A | Water Utilities | 400.0 | 297.0 |
| Chongqing Zhifei Biological Products Co. Ltd., B | Biotechnology | 600.0 | 7617.0 |
| Chow Tai Fook Jewellery Group Ltd., A | Specialty Retail | 8800.0 | 17950.0 |
| CIFI Holdings Group Co. Ltd., A | Real Estate Management & Development | 20880.0 | 2943.0 |
| CITIC Ltd., B | Industrial Conglomerates | 23000.0 | 24282.0 |
| Citic Pacific Special Steel Group Co. Ltd., A | Metals & Mining | 1880.0 | 4663.0 |
| CITIC Securities Co. Ltd., A | Capital Markets | 4395.0 | 12647.0 |
| CITIC Securities Co. Ltd., H | Capital Markets | 11000.0 | 22240.0 |
| CMOC Group Ltd., A | Metals & Mining | 3500.0 | 2302.0 |
| CMOC Group Ltd., H | Metals & Mining | 21000.0 | 9686.0 |
| CMST Development Co. Ltd., A | Air Freight & Logistics | 400.0 | 287.0 |
| CNOOC Energy Technology & Services Ltd., A | Energy Equipment & Services | 2500.0 | 1041.0 |
| Contemporary Amperex Technology Co. Ltd., H | Electrical Equipment | 800.0 | 45490.0 |
| COSCO SHIPPING Development Co. Ltd., A | Marine | 2800.0 | 979.0 |
| COSCO SHIPPING Development Co. Ltd., H | Marine | 18000.0 | 2398.0 |
| <sup>a</sup> COSCO SHIPPING Energy Transportation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Marine | 1100.0 | 1916.0 |
| <sup>a</sup> COSCO SHIPPING Energy Transportation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Marine | 6000.0 | 4597.0 |
| COSCO SHIPPING Holdings Co. Ltd., A | Marine | 4600.0 | 6841.0 |
| COSCO SHIPPING Holdings Co. Ltd., B | Marine | 15950.0 | 16267.0 |
| Country Garden Holdings Co. Ltd. | Real Estate Management & Development | 46000.0 | 15736.0 |
| Country Garden Services Holdings Co. Ltd. | Commercial Services & Supplies | 9300.0 | 23164.0 |
| CRRC Corp. Ltd., A | Machinery | 8100.0 | 5982.0 |
| CRRC Corp. Ltd., H | Machinery | 21000.0 | 8475.0 |
| <sup>b</sup> CSC Financial Co. Ltd., A, 144A | Capital Markets | 4500.0 | 3938.0 |
| CSC Financial Co. Ltd., A | Capital Markets | 1800.0 | 6179.0 |
| CSG Holding Co. Ltd. | Construction Materials | 5401.0 | 2069.0 |
| CSG Holding Co. Ltd., A | Construction Materials | 700.0 | 679.0 |
| CSPC Pharmaceutical Group Ltd., A | Pharmaceuticals | 40000.0 | 42025.0 |
| Daan Gene Co. Ltd. | Biotechnology | 612.0 | 1376.0 |
| <sup>a</sup> Dada Nexus Ltd., A, ADR | Internet & Catalog Retail | 343.0 | 2391.0 |
| <sup>b</sup> Dali Foods Group Co. Ltd., 144A | Food Products | 11000.0 | 5017.0 |
| Daqin Railway Co. Ltd., A | Road & Rail | 5300.0 | 5117.0 |
| <sup>a</sup> Daqo New Energy Corp. | Semiconductors & Semiconductor Equipment | 280.0 | 10811.0 |
| <sup>a</sup> Datang International Power Generation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 2800.0 | 1129.0 |
| <sup>a</sup> Datang International Power Generation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Independent Power Producers & Energy Traders | 14000.0 | 2278.0 |
| DHC Software Co. Ltd., A | IT Services | 1100.0 | 900.0 |
| Dian Diagnostics Group Co. Ltd., A | Health Care Providers & Services | 400.0 | 1453.0 |
| Digital China Information Service Co. Ltd., H | IT Services | 400.0 | 623.0 |
| Do-Fluoride New Materials Co. Ltd., A | Chemicals | 400.0 | 1926.0 |
| Dong-E-E-Jiao Co. Ltd., A | Pharmaceuticals | 200.0 | 1177.0 |
| Dongfang Electric Corp. Ltd., A | Electrical Equipment | 1100.0 | 3342.0 |
| Dongfang Electric Corp. Ltd., H | Electrical Equipment | 1800.0 | 3063.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dongfeng Motor Group Co. Ltd., H | Automobiles | 14000 | 8036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dongguan Development Holdings Co. Ltd., A | Transportation Infrastructure | 400 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dongxing Securities Co. Ltd., A | Capital Markets | 1100 | 1227 |
| &nbsp;&nbsp;&nbsp;&nbsp; East Group Co. Ltd., A | Electrical Equipment | 400 | 395 |
| &nbsp;&nbsp;&nbsp;&nbsp; East Money Information Co. Ltd. | Capital Markets | 4888 | 13706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Easyhome New Retail Group Co. Ltd., A | Multiline Retail | 1100 | 650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecovacs Robotics Co. Ltd., A | Household Durables | 200 | 2108 |
| &nbsp;&nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. | Gas Utilities | 3600 | 50553 |
| &nbsp;&nbsp;&nbsp;&nbsp; ENN Natural Gas Co. Ltd., A | Chemicals | 1100 | 2560 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> ESR Group Ltd., H, 144A | Real Estate Management & Development | 9800 | 20567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eternal Asia Supply Chain Management Ltd., A | Commercial Services & Supplies | 900 | 836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eve Energy Co. Ltd. | Electrical Equipment | 680 | 8639 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Everbright Securities Co. Ltd., 144A | Capital Markets | 1400 | 940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everbright Securities Co. Ltd., A | Capital Markets | 1400 | 3009 |
| <sup>a,b,c</sup> Evergrande Property Services Group Ltd., 144A | Real Estate Management & Development | 24000 | 3104 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Fangda Carbon New Material Co. Ltd. | Electrical Equipment | 1460 | 1291 |
| &nbsp;&nbsp;&nbsp;&nbsp; FAW Jiefang Group Co. Ltd. | Automobiles | 1100 | 1229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiberhome Telecommunication Technologies Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Communications Equipment | 400 | 760 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> FIH Mobile Ltd. | Electronic Equipment, Instruments & Components | 18000 | 1937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Street Holdings Co. Ltd., A | Real Estate Management & Development | 1100 | 835 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Capital Securities Co. Ltd. | Capital Markets | 1400 | 1139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flat Glass Group Co. Ltd., A | Semiconductors & Semiconductor Equipment | 400 | 1926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flat Glass Group Co. Ltd., H | Semiconductors & Semiconductor Equipment | 2000 | 4838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Focus Media Information Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 5500 | 5310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foshan Haitian Flavouring & Food Co. Ltd. | Food Products | 1400 | 16107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fosun International Ltd. | Industrial Conglomerates | 10500 | 8556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co. Ltd., A | Electronic Equipment, Instruments & Components | 4600 | 6103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fujian Funeng Co. Ltd., A | Independent Power Producers & Energy Traders | 400 | 612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fujian Sunner Development Co. Ltd. | Food Products | 400 | 1370 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Full Truck Alliance Co. Ltd. | Road & Rail | 3175 | 25400 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Fuyao Glass Industry Group Co. Ltd., 144A | Auto Components | 3200 | 13427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., A | Auto Components | 700 | 3548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ganfeng Lithium Group Co. Ltd. | Metals & Mining | 600 | 6028 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Ganfeng Lithium Group Co. Ltd., H, 144A | Metals & Mining | 1400 | 10457 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> GCL System Integration Technology Co. Ltd. | Semiconductors & Semiconductor Equipment | 1400 | 589 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> GD Power Development Co. Ltd., A | Independent Power Producers & Energy Traders | 5600 | 3456 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> GDS Holdings Ltd. | IT Services | 4600 | 12082 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEM Co. Ltd. | Metals & Mining | 1800 | 1933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gemdale Corp., A | Real Estate Management & Development | 1800 | 2661 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Genscript Biotech Corp. | Life Sciences Tools & Services | 4770 | 15187 |
| &nbsp;&nbsp;&nbsp;&nbsp; GF Securities Co. Ltd. | Capital Markets | 2200 | 4925 |
| &nbsp;&nbsp;&nbsp;&nbsp; GF Securities Co. Ltd., H | Capital Markets | 5600 | 8050 |
| &nbsp;&nbsp;&nbsp;&nbsp; GigaDevice Semiconductor Inc., A | Semiconductors & Semiconductor Equipment | 100 | 1481 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ginlong Technologies Co. Ltd., A | Electrical Equipment | 150 | 3903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glarun Technology Co. Ltd., A | Communications Equipment | 400 | 980 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoerTek Inc. | Electronic Equipment, Instruments & Components | 1100 | 2676 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> GOME Retail Holdings Ltd. | Specialty Retail | 60000 | 846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gotion High-tech Co. Ltd. | Electrical Equipment | 700 | 2917 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Grandjoy Holdings Group Co. Ltd., A | Real Estate Management & Development | 700 | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Wall Motor Co. Ltd., A | Automobiles | 1100 | 4709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Wall Motor Co. Ltd., H | Automobiles | 14000 | 18224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greentown China Holdings Ltd. | Real Estate Management & Development | 4500 | 6573 |
| &nbsp;&nbsp;&nbsp;&nbsp; GRG Banking Equipment Co. Ltd. | Technology Hardware, Storage & Peripherals | 700 | 1006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Baolihua New Energy Stock Co. Ltd. | Independent Power Producers & Energy Traders | 1100 | 1033 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Guangdong Electric Power Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 1100 | 882 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Guangdong Electric Power Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., B | Independent Power Producers & Energy Traders | 3200 | 861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Golden Dragon Development Inc. | Capital Markets | 400 | 748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Haid Group Co. Ltd. | Food Products | 600 | 5353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong HEC Technology Holding Co. Ltd., A | Metals & Mining | 700 | 879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Kinlong Hardware Products Co. Ltd. | Building Products | 100 | 1502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Xinbao Electrical Appliances Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Household Durables | 400 | 963 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Guanghui Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 2100 | 2738 |
| &nbsp;&nbsp; <sup>a</sup> Guangshen Railway Co. Ltd., A | Road & Rail | 1100.0 | 361.0 |
| &nbsp;&nbsp; <sup>a</sup> Guangshen Railway Co. Ltd., H | Road & Rail | 8000.0 | 1476.0 |
| &nbsp;&nbsp;&nbsp; Guangxi Guiguan Electric Power Co. Ltd., A | Independent Power Producers & Energy Traders | 1100.0 | 916.0 |
| &nbsp;&nbsp;&nbsp; Guangxi Liugong Machinery Co. Ltd. | Machinery | 500.0 | 425.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Automobile Group Co. Ltd., A | Automobiles | 1100.0 | 1754.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Automobile Group Co. Ltd., H | Automobiles | 16000.0 | 10783.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Baiyunshan Pharmaceutical Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Pharmaceuticals | 1100.0 | 3242.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Baiyunshan Pharmaceutical Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Pharmaceuticals | 400.0 | 1722.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Haige Communications Group Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. | Communications Equipment | 700.0 | 822.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Kingmed Diagnostics Group Co. Ltd. | Health Care Providers & Services | 200.0 | 2260.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Shiyuan Electronic Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 100.0 | 853.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Tinci Materials Technology Co. Ltd. | Chemicals | 720.0 | 4564.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Yuexiu Capital Holdings Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Capital Markets | 980.0 | 848.0 |
| &nbsp;&nbsp;&nbsp; Guangzhou Zhujiang Brewery Co. Ltd. | Beverages | 400.0 | 463.0 |
| &nbsp;&nbsp;&nbsp; Guizhou Panjiang Refined Coal Co. Ltd., A | Oil, Gas & Consumable Fuels | 700.0 | 680.0 |
| &nbsp;&nbsp;&nbsp; Guizhou Xinbang Pharmaceutical Co. Ltd. | Pharmaceuticals | 400.0 | 272.0 |
| &nbsp;&nbsp;&nbsp; Guolian Securities Co. Ltd., A | Capital Markets | 700.0 | 1138.0 |
| &nbsp;&nbsp;&nbsp; Guosen Securities Co. Ltd. | Capital Markets | 1600.0 | 2054.0 |
| &nbsp;&nbsp; <sup>a</sup> Guosheng Financial Holding Inc. | Electrical Equipment | 400.0 | 428.0 |
| &nbsp;&nbsp; <sup>b</sup> Guotai Junan Securities Co. Ltd., 144A | Capital Markets | 3600.0 | 4054.0 |
| &nbsp;&nbsp;&nbsp; Guotai Junan Securities Co. Ltd., A | Capital Markets | 2500.0 | 4911.0 |
| &nbsp;&nbsp;&nbsp; Guoyuan Securities Co. Ltd. | Capital Markets | 1920.0 | 1757.0 |
| &nbsp;&nbsp;&nbsp; H World Group Ltd., ADR | Hotels, Restaurants & Leisure | 1075.0 | 45602.0 |
| <sup>a,b</sup> Haidilao International Holding Ltd., 144A | Hotels, Restaurants & Leisure | 5200.0 | 14924.0 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., A | Household Durables | 2100.0 | 7424.0 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., H | Household Durables | 11600.0 | 39534.0 |
| &nbsp;&nbsp;&nbsp; Haisco Pharmaceutical Group Co. Ltd. | Pharmaceuticals | 400.0 | 1286.0 |
| &nbsp;&nbsp;&nbsp; Haitian International Holdings Ltd. | Machinery | 3000.0 | 8033.0 |
| &nbsp;&nbsp;&nbsp; Haitong Securities Co. Ltd., A | Capital Markets | 3200.0 | 4019.0 |
| &nbsp;&nbsp;&nbsp; Haitong Securities Co. Ltd., H | Capital Markets | 16800.0 | 10332.0 |
| &nbsp;&nbsp; <sup>a</sup> Hang Zhou Great Star Industrial Co. Ltd. | Household Durables | 400.0 | 1097.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou Binjiang Real Estate Group Co. Ltd. | Real Estate Management & Development | 700.0 | 893.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou First Applied Material Co. Ltd., A | Semiconductors & Semiconductor Equipment | 324.0 | 3111.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou Robam Appliances Co. Ltd., A | Household Durables | 400.0 | 1605.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou Shunwang Technology Co. Ltd. | Entertainment | 400.0 | 602.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou Silan Microelectronics Co. Ltd., A | Semiconductors & Semiconductor Equipment | 600.0 | 2844.0 |
| &nbsp;&nbsp;&nbsp; Hangzhou Tigermed Consulting Co. Ltd. | Life Sciences Tools & Services | 300.0 | 4544.0 |
| &nbsp;&nbsp; <sup>b</sup> Hangzhou Tigermed Consulting Co. Ltd., A, 144A | Life Sciences Tools & Services | 400.0 | 4623.0 |
| &nbsp;&nbsp;&nbsp; Han's Laser Technology Industry Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 400.0 | 1483.0 |
| &nbsp;&nbsp; <sup>b</sup> Hansoh Pharmaceutical Group Co. Ltd., 144A | Pharmaceuticals | 5000.0 | 9507.0 |
| &nbsp;&nbsp;&nbsp; Haohua Chemical Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 400.0 | 2481.0 |
| &nbsp;&nbsp;&nbsp; Hefei Meiya Optoelectronic Technology Inc. | Machinery | 120.0 | 415.0 |
| &nbsp;&nbsp;&nbsp; Heilongjiang Agriculture Co. Ltd., A | Food Products | 700.0 | 1392.0 |
| &nbsp;&nbsp;&nbsp; Henan Shuanghui Investment & Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Food Products | 1200.0 | 4497.0 |
| &nbsp;&nbsp;&nbsp; Hengan International Group Co. Ltd. | Personal Products | 3500.0 | 18588.0 |
| &nbsp;&nbsp;&nbsp; Hengdian Group DMEGC Magnetics Co. Ltd. | Electronic Equipment, Instruments & Components | 700.0 | 1896.0 |
| &nbsp;&nbsp;&nbsp; Hengli Petrochemical Co. Ltd., A | Chemicals | 1260.0 | 2828.0 |
| &nbsp;&nbsp;&nbsp; Hengtong Optic-electric Co. Ltd. | Communications Equipment | 700.0 | 1524.0 |
| &nbsp;&nbsp;&nbsp; Hengyi Petrochemical Co. Ltd., A | Chemicals | 1100.0 | 1118.0 |
| &nbsp;&nbsp;&nbsp; Hesteel Co. Ltd. | Metals & Mining | 4600.0 | 1503.0 |
| &nbsp;&nbsp;&nbsp; Hithink RoyalFlush Information Network Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Capital Markets | 200.0 | 2850.0 |
| &nbsp;&nbsp; <sup>a</sup> Holitech Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 700.0 | 258.0 |
| &nbsp;&nbsp;&nbsp; Hopson Development Holdings Ltd. | Real Estate Management & Development | 4182.0 | 4115.0 |
| &nbsp;&nbsp;&nbsp; Hoshine Silicon Industry Co. Ltd., A | Chemicals | 200.0 | 2398.0 |
| <sup>a,b</sup> Hua Hong Semiconductor Ltd., 144A | Semiconductors & Semiconductor Equipment | 2000.0 | 6983.0 |

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------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., A | Independent Power Producers & Energy Traders | 1800 | 1530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., H | Independent Power Producers & Energy Traders | 10000 | 4138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadong Medicine Co. Ltd., A | Health Care Providers & Services | 700 | 4735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huafon Chemical Co. Ltd. | Chemicals | 1400 | 1376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huagong Tech Co. Ltd. | Electronic Equipment, Instruments & Components | 400 | 949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaibei Mining Holdings Co. Ltd., A | Metals & Mining | 700 | 1295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hualan Biological Engineering Inc. | Biotechnology | 700 | 2290 |
| &nbsp;&nbsp; <sup>a</sup> Huaneng Power International Inc., A | Independent Power Producers & Energy Traders | 2800 | 3080 |
| &nbsp;&nbsp; <sup>a</sup> Huaneng Power International Inc., H | Independent Power Producers & Energy Traders | 22000 | 10401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huapont Life Sciences Co. Ltd. | Chemicals | 1100 | 811 |
| &nbsp;&nbsp; <sup>b</sup> Huatai Securities Co. Ltd., 144A | Capital Markets | 8200 | 9382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huatai Securities Co. Ltd., A | Capital Markets | 2700 | 4972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxi Securities Co. Ltd. | Capital Markets | 700 | 762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxia Bank Co. Ltd., A | Banks | 4900 | 3676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., H | Construction Materials | 1400 | 1561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., A | Construction Materials | 400 | 857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huayu Automotive Systems Co. Ltd. | Auto Components | 1100 | 2755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Biocause Pharmaceutical Co. Ltd. | Insurance | 700 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Energy Group Co. Ltd. | Independent Power Producers & Energy Traders | 2100 | 1275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Xingfa Chemicals Group Co. Ltd., A | Chemicals | 400 | 1677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huizhou Desay Sv Automotive Co. Ltd. | Household Durables | 200 | 3045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humanwell Healthcare Group Co. Ltd., A | Pharmaceuticals | 700 | 2417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hunan Gold Corp. Ltd. | Metals & Mining | 400 | 749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hunan Valin Steel Co. Ltd., A | Metals & Mining | 2500 | 1698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hundsun Technologies Inc., A | Software | 676 | 3953 |
| &nbsp;&nbsp; <sup>a</sup> HUTCHMED China Ltd. | Pharmaceuticals | 2500 | 7687 |
| <sup>a,b</sup> Hygeia Healthcare Holdings Co. Ltd., 144A | Health Care Providers & Services | 1400 | 10045 |
| &nbsp;&nbsp; <sup>a</sup> Hytera Communications Corp. Ltd., A | Communications Equipment | 400 | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iflytek Co. Ltd. | Software | 800 | 3796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Imeik Technology Development Co. Ltd., A | Biotechnology | 100 | 8186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd. | Banks | 26600 | 16685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd., H | Banks | 378000 | 194692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Bank Co. Ltd., A | Banks | 7400 | 18813 |
| &nbsp;&nbsp; <sup>a</sup> Industrial Securities Co. Ltd., A | Capital Markets | 3240 | 2688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingenic Semiconductor Co. Ltd., A | Semiconductors & Semiconductor Equipment | 200 | 2036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inmyshow Digital Technology Group Co. Ltd. | Media | 700 | 682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia BaoTou Steel Union Co. Ltd., A | Metals & Mining | 13300 | 3691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Dian Tou Energy Corp. Ltd. | Oil, Gas & Consumable Fuels | 400 | 713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia ERDOS Resources Co. Ltd., B | Metals & Mining | 2100 | 3421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Junzheng Energy & Chemical |  |  |  |
| Industry Group Co. Ltd., A | Chemicals | 2800 | 1615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., A | Food Products | 2200 | 9857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Yitai Coal Co. Ltd., B | Oil, Gas & Consumable Fuels | 4900 | 6473 |
| <sup>a,b</sup> Innovent Biologics Inc., B, 144A | Biotechnology | 6500 | 27899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inspur Electronic Information Industry Co. Ltd. | Technology Hardware, Storage & Peripherals | 400 | 1244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intco Medical Technology Co. Ltd. | Health Care Equipment & Supplies | 180 | 547 |
| &nbsp;&nbsp; <sup>a</sup> iQIYI Inc., ADR | Entertainment | 1602 | 8491 |
| &nbsp;&nbsp;&nbsp;&nbsp; JA Solar Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 740 | 6427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jafron Biomedical Co. Ltd., A | Health Care Equipment & Supplies | 400 | 1790 |
| &nbsp;&nbsp;&nbsp;&nbsp; JCET Group Co. Ltd., A | Semiconductors & Semiconductor Equipment | 700 | 2332 |
| <sup>a,b</sup> JD Health International Inc., 144A | Internet & Catalog Retail | 3500 | 31996 |
| <sup>a,b</sup> JD Logistics Inc., 144A | Air Freight & Logistics | 8100 | 15692 |
| &nbsp;&nbsp;&nbsp;&nbsp; JD.com Inc., A | Internet & Catalog Retail | 11500 | 324448 |
| &nbsp;&nbsp; <sup>a</sup> Jiajiayue Group Co. Ltd., A | Food & Staples Retailing | 400 | 728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangling Motors Corp. Ltd., A | Automobiles | 400 | 776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Eastern Shenghong Co. Ltd. | Chemicals | 1400 | 2639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., A | Transportation Infrastructure | 400 | 475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., H | Transportation Infrastructure | 6000 | 5481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Hengli Hydraulic Co. Ltd., A | Machinery | 496 | 4527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co. Ltd., A | Pharmaceuticals | 2332 | 12987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu King's Luck Brewery JSC Ltd. | Beverages | 500 | 3678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Linyang Energy Co. Ltd., A | Electrical Equipment | 700 | 869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., A | Beverages | 500 | 11599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Yangnong Chemical Co. Ltd., A | Chemicals | 100 | 1502 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Jiangsu Yuyue Medical Equipment & Supply Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Health Care Equipment & Supplies | 400.0 | 1842.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Zhangjiagang Rural Commercial Bank Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Banks | 480.0 | 320.0 |
| &nbsp;&nbsp; <sup>a</sup> Jiangsu Zhongnan Construction Group Co. Ltd. | Real Estate Management & Development | 1800.0 | 570.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Zhongtian Technology Co. Ltd., A | Electrical Equipment | 1100.0 | 2568.0 |
| &nbsp;&nbsp;&nbsp; Jiangxi Copper Co. Ltd., A | Metals & Mining | 700.0 | 1763.0 |
| &nbsp;&nbsp;&nbsp; Jiangxi Copper Co. Ltd., H | Metals & Mining | 6000.0 | 8856.0 |
| &nbsp;&nbsp; <sup>a</sup> Jiangxi Special Electric Motor Co. Ltd., A | Electrical Equipment | 700.0 | 1765.0 |
| &nbsp;&nbsp; <sup>a</sup> Jiangxi Zhengbang Technology Co. Ltd., A | Food Products | 700.0 | 428.0 |
| &nbsp;&nbsp;&nbsp; Jilin Aodong Pharmaceutical Group Co. Ltd. | Pharmaceuticals | 400.0 | 867.0 |
| &nbsp;&nbsp; <sup>a</sup> Jinke Properties Group Co. Ltd. | Real Estate Management & Development | 2500.0 | 690.0 |
| &nbsp;&nbsp;&nbsp; Jinke Smart Services Group Co. Ltd., H | Real Estate Management & Development | 1400.0 | 2457.0 |
| &nbsp;&nbsp; <sup>b</sup> Jinxin Fertility Group Ltd., 144A | Health Care Providers & Services | 7500.0 | 6928.0 |
| &nbsp;&nbsp;&nbsp; JiuGui Liquor Co. Ltd., A | Beverages | 100.0 | 1994.0 |
| &nbsp;&nbsp; <sup>b</sup> Jiumaojiu International Holdings Ltd., 144A | Hotels, Restaurants & Leisure | 3000.0 | 8014.0 |
| &nbsp;&nbsp;&nbsp; Jizhong Energy Resources Co. Ltd., A | Oil, Gas & Consumable Fuels | 1100.0 | 1011.0 |
| &nbsp;&nbsp;&nbsp; Joincare Pharmaceutical Group Industry Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 700.0 | 1142.0 |
| &nbsp;&nbsp;&nbsp; Joinn Laboratories China Co. Ltd., A | Life Sciences Tools & Services | 140.0 | 1182.0 |
| &nbsp;&nbsp; <sup>b</sup> Joinn Laboratories China Co. Ltd., H, 144A | Life Sciences Tools & Services | 420.0 | 2150.0 |
| &nbsp;&nbsp; <sup>a</sup> Jointo Energy Investment Co. Ltd. Hebei | Independent Power Producers & Energy Traders | 400.0 | 304.0 |
| &nbsp;&nbsp;&nbsp; Jointown Pharmaceutical Group Co. Ltd., A | Health Care Providers & Services | 700.0 | 1319.0 |
| &nbsp;&nbsp;&nbsp; Jonjee Hi-Tech Industrial And Commercial Holding |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Food Products | 400.0 | 2132.0 |
| &nbsp;&nbsp;&nbsp; Joyoung Co. Ltd. | Household Durables | 400.0 | 953.0 |
| &nbsp;&nbsp;&nbsp; JOYY Inc., ADR | Interactive Media & Services | 228.0 | 7203.0 |
| &nbsp;&nbsp;&nbsp; Juewei Food Co. Ltd., A | Food Products | 100.0 | 883.0 |
| &nbsp;&nbsp; <sup>a</sup> Juneyao Airlines Co. Ltd., A | Airlines | 400.0 | 935.0 |
| &nbsp;&nbsp; <sup>a</sup> Kaishan Group Co. Ltd., A | Machinery | 400.0 | 867.0 |
| &nbsp;&nbsp; <sup>a</sup> Kanzhun Ltd., ADR | Interactive Media & Services | 672.0 | 13689.0 |
| &nbsp;&nbsp; <sup>a</sup> KE Holdings Inc., ADR | Real Estate Management & Development | 3003.0 | 41922.0 |
| &nbsp;&nbsp;&nbsp; Keda Industrial Group Co. Ltd. | Machinery | 700.0 | 1438.0 |
| &nbsp;&nbsp;&nbsp; Kerry Logistics Network Ltd. | Air Freight & Logistics | 1500.0 | 2698.0 |
| &nbsp;&nbsp;&nbsp; Kingboard Holdings Ltd. | Electronic Equipment, Instruments & Components | 3500.0 | 11144.0 |
| &nbsp;&nbsp; <sup>a</sup> Kingdee International Software Group Co. Ltd. | Software | 13000.0 | 27882.0 |
| &nbsp;&nbsp; <sup>a</sup> Kingsoft Cloud Holdings Ltd., ADR | IT Services | 491.0 | 1881.0 |
| &nbsp;&nbsp;&nbsp; Kingsoft Corp. Ltd. | Software | 4400.0 | 14714.0 |
| <sup>a,b</sup> Kuaishou Technology, B, 144A | Interactive Media & Services | 9100.0 | 82839.0 |
| &nbsp;&nbsp; <sup>a</sup> Kuang-Chi Technologies Co. Ltd. | Auto Components | 700.0 | 1722.0 |
| &nbsp;&nbsp;&nbsp; Kunlun Tech Co. Ltd. | Entertainment | 400.0 | 833.0 |
| &nbsp;&nbsp;&nbsp; Kweichow Moutai Co. Ltd., A | Beverages | 420.0 | 104835.0 |
| &nbsp;&nbsp; <sup>a</sup> KWG Group Holdings Ltd. | Real Estate Management & Development | 7000.0 | 1668.0 |
| &nbsp;&nbsp; <sup>a</sup> Lakala Payment Co. Ltd., A | IT Services | 400.0 | 976.0 |
| &nbsp;&nbsp;&nbsp; Lao Feng Xiang Co. Ltd., B | Textiles, Apparel & Luxury Goods | 1100.0 | 3218.0 |
| &nbsp;&nbsp;&nbsp; Laobaixing Pharmacy Chain JSC | Food & Staples Retailing | 130.0 | 760.0 |
| &nbsp;&nbsp;&nbsp; LB Group Co. Ltd. | Chemicals | 900.0 | 2461.0 |
| &nbsp;&nbsp;&nbsp; Lee & Man Paper Manufacturing Ltd. | Paper & Forest Products | 7000.0 | 3085.0 |
| &nbsp;&nbsp; <sup>b</sup> Legend Holdings Corp., 144A | Technology Hardware, Storage & Peripherals | 2700.0 | 2889.0 |
| &nbsp;&nbsp;&nbsp; Lenovo Group Ltd. | Technology Hardware, Storage & Peripherals | 36000.0 | 29566.0 |
| &nbsp;&nbsp;&nbsp; Lens Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 1800.0 | 2739.0 |
| &nbsp;&nbsp; <sup>a</sup> Leo Group Co. Ltd. | Media | 2100.0 | 537.0 |
| &nbsp;&nbsp;&nbsp; Lepu Medical Technology Beijing Co. Ltd. | Health Care Equipment & Supplies | 700.0 | 2324.0 |
| &nbsp;&nbsp;&nbsp; Levima Advanced Materials Corp., A | Chemicals | 400.0 | 1755.0 |
| &nbsp;&nbsp;&nbsp; Leyard Optoelectronic Co. Ltd. | Electronic Equipment, Instruments & Components | 700.0 | 573.0 |
| &nbsp;&nbsp; <sup>a</sup> Li Auto Inc., ADR | Automobiles | 2576.0 | 52550.0 |
| &nbsp;&nbsp;&nbsp; Li Ning Co. Ltd. | Textiles, Apparel & Luxury Goods | 11000.0 | 95484.0 |
| &nbsp;&nbsp;&nbsp; LianChuang Electronic Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 400.0 | 715.0 |
| &nbsp;&nbsp;&nbsp; Lianhe Chemical Technology Co. Ltd. | Chemicals | 400.0 | 896.0 |
| &nbsp;&nbsp;&nbsp; Liaoning Port Co. Ltd., A | Transportation Infrastructure | 6700.0 | 1569.0 |
| &nbsp;&nbsp; <sup>a</sup> Lingyi iTech Guangdong Co. | Electrical Equipment | 2800.0 | 1837.0 |
| &nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc. | Pharmaceuticals | 200.0 | 939.0 |
| &nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc., H | Pharmaceuticals | 800.0 | 2691.0 |
| &nbsp;&nbsp; <sup>b</sup> Longfor Group Holdings Ltd., 144A, Reg S | Real Estate Management & Development | 9330.0 | 29048.0 |
| &nbsp;&nbsp;&nbsp; LONGi Green Energy Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 2400.0 | 14659.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Longshine Technology Group Co. Ltd., A | Software | 400 | 1271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luenmei Quantum Co. Ltd., A | Water Utilities | 700 | 639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lufax Holding Ltd., ADR | Consumer Finance | 3420 | 6635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxi Chemical Group Co. Ltd., A | Chemicals | 700 | 1254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxshare Precision Industry Co. Ltd., A | Electronic Equipment, Instruments & Components | 2500 | 11472 |
| <sup>a,b</sup> Luye Pharma Group Ltd., 144A | Pharmaceuticals | 9500 | 4455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luzhou Laojiao Co. Ltd., A | Beverages | 500 | 16208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maanshan Iron & Steel Co. Ltd., A | Metals & Mining | 1800 | 731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maanshan Iron & Steel Co. Ltd., H | Metals & Mining | 4000 | 933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mango Excellent Media Co. Ltd. | Entertainment | 740 | 3211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maxscend Microelectronics Co. Ltd., A | Electronic Equipment, Instruments & Components | 160 | 2643 |
| &nbsp;&nbsp; <sup>a</sup> Meinian Onehealth Healthcare Holdings Co. Ltd. | Health Care Providers & Services | 1520 | 1347 |
| <sup>a,b</sup> Meituan, B, 144A | Internet & Catalog Retail | 19900 | 445426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallurgical Corp. of China Ltd. | Construction & Engineering | 15000 | 3325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallurgical Corp. of China Ltd., A | Construction & Engineering | 5600 | 2574 |
| &nbsp;&nbsp; <sup>a</sup> Microport Scientific Corp. | Health Care Equipment & Supplies | 2100 | 5529 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ming Yang Smart Energy Group Ltd. | Electrical Equipment | 700 | 2556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ming Yuan Cloud Group Holdings Ltd. | Software | 3000 | 2698 |
| &nbsp;&nbsp;&nbsp;&nbsp; MINISO Group Holding Ltd., ADR | Multiline Retail | 364 | 3906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Minth Group Ltd. | Auto Components | 3500 | 9484 |
| &nbsp;&nbsp; <sup>a</sup> MMG Ltd. | Metals & Mining | 12000 | 3075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Montage Technology Co. Ltd. | Semiconductors & Semiconductor Equipment | 297 | 2687 |
| &nbsp;&nbsp; <sup>a</sup> Montnets Cloud Technology Group Co. Ltd. | Software | 400 | 649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muyuan Foods Co. Ltd. | Food Products | 1896 | 13359 |
| &nbsp;&nbsp;&nbsp;&nbsp; NanJi E-Commerce Co. Ltd. | Media | 700 | 487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing Hanrui Cobalt Co. Ltd., A | Metals & Mining | 100 | 579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing Iron & Steel Co. Ltd., A | Metals & Mining | 2500 | 1138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing King-Friend Biochemical Pharmaceutical |  |  |  |
| Co. Ltd. | Pharmaceuticals | 520 | 1356 |
| &nbsp;&nbsp;&nbsp;&nbsp; NARI Technology Co. Ltd., A | Electrical Equipment | 2580 | 9099 |
| &nbsp;&nbsp;&nbsp;&nbsp; NAURA Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 200 | 6513 |
| &nbsp;&nbsp;&nbsp;&nbsp; NavInfo Co. Ltd. | Household Durables | 700 | 1115 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetEase Inc. | Entertainment | 8900 | 130565 |
| &nbsp;&nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., A | Insurance | 700 | 3043 |
| &nbsp;&nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., H | Insurance | 4600 | 11257 |
| &nbsp;&nbsp; <sup>a</sup> New Hope Liuhe Co. Ltd. | Food Products | 1400 | 2612 |
| &nbsp;&nbsp; <sup>a</sup> New Oriental Education & Technology Group Inc. | Diversified Consumer Services | 6610 | 24137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newland Digital Technology Co. Ltd. | Software | 400 | 752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexteer Automotive Group Ltd. | Auto Components | 5000 | 3274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nine Dragons Paper Holdings Ltd. | Paper & Forest Products | 8000 | 7298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ninestar Corp. | Technology Hardware, Storage & Peripherals | 700 | 5250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Deye Technology Co. Ltd., A | Machinery | 40 | 1915 |
| &nbsp;&nbsp; <sup>a</sup> Ningbo Joyson Electronic Corp. | Auto Components | 500 | 1015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Orient Wires & Cables Co. Ltd., A | Electrical Equipment | 300 | 2941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Ronbay New Energy Technology Co. Ltd. | Electrical Equipment | 175 | 1739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Sanxing Medical Electric Co. Ltd., A | Electrical Equipment | 400 | 779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Shanshan Co. Ltd., A | Chemicals | 700 | 1841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Tuopu Group Co. Ltd., A | Auto Components | 400 | 3387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Zhoushan Port Co. Ltd., A | Transportation Infrastructure | 3200 | 1656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningxia Baofeng Energy Group Co. Ltd., A | Chemicals | 1100 | 1919 |
| &nbsp;&nbsp; <sup>a</sup> NIO Inc., ADR | Automobiles | 5803 | 56579 |
| &nbsp;&nbsp; <sup>b</sup> Nongfu Spring Co. Ltd., H, 144A | Beverages | 8400 | 47462 |
| &nbsp;&nbsp;&nbsp;&nbsp; North Huajin Chemical Industries Co. Ltd. | Chemicals | 400 | 393 |
| &nbsp;&nbsp;&nbsp;&nbsp; North Industries Group Red Arrow Co. Ltd., A | Machinery | 400 | 1135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northeast Securities Co. Ltd. | Capital Markets | 700 | 658 |
| &nbsp;&nbsp;&nbsp;&nbsp; NSFOCUS Technologies Group Co. Ltd. | Software | 400 | 590 |
| &nbsp;&nbsp; <sup>a</sup> Oceanwide Holdings Co. Ltd. | Diversified Financial Services | 700 | 126 |
| &nbsp;&nbsp; <sup>a</sup> Offcn Education Technology Co. Ltd., A | Diversified Consumer Services | 700 | 468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Offshore Oil Engineering Co. Ltd., A | Energy Equipment & Services | 1800 | 1577 |
| &nbsp;&nbsp; <sup>a</sup> OFILM Group Co. Ltd. | Electronic Equipment, Instruments & Components | 1400 | 953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oppein Home Group Inc., A | Household Durables | 100 | 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp; ORG Technology Co. Ltd. | Containers & Packaging | 700 | 511 |
| &nbsp;&nbsp; <sup>b</sup> Orient Securities Co. Ltd., 144A | Capital Markets | 3600 | 1725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orient Securities Co. Ltd., A | Capital Markets | 2772 | 3582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oriental Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 700 | 772 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; <sup>a</sup> Ourpalm Co. Ltd. | Entertainment | 1400 | 650.0 |
| &nbsp;&nbsp;&nbsp; Ovctek China Inc., A | Health Care Equipment & Supplies | 400.0 | 2064.0 |
| &nbsp;&nbsp; <sup>a</sup> Pangang Group Vanadium Titanium & Resources |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Metals & Mining | 2500.0 | 1709.0 |
| &nbsp;&nbsp;&nbsp; People.cn Co. Ltd. | Media | 400.0 | 975.0 |
| &nbsp;&nbsp;&nbsp; Perfect World Co. Ltd. | Entertainment | 400.0 | 735.0 |
| &nbsp;&nbsp;&nbsp; PetroChina Co. Ltd. | Oil, Gas & Consumable Fuels | 8800.0 | 6321.0 |
| &nbsp;&nbsp;&nbsp; PetroChina Co. Ltd., H | Oil, Gas & Consumable Fuels | 102000.0 | 46655.0 |
| &nbsp;&nbsp;&nbsp; Pharmaron Beijing Co. Ltd., A | Life Sciences Tools & Services | 150.0 | 1474.0 |
| &nbsp;&nbsp; <sup>b</sup> Pharmaron Beijing Co. Ltd., H, 144A | Life Sciences Tools & Services | 1000.0 | 6938.0 |
| &nbsp;&nbsp;&nbsp; PICC Property & Casualty Co. Ltd., H | Insurance | 32000.0 | 30381.0 |
| &nbsp;&nbsp; <sup>a</sup> Pinduoduo Inc., ADR | Internet & Direct Marketing Retail | 1792.0 | 146138.0 |
| &nbsp;&nbsp;&nbsp; Ping An Bank Co. Ltd., A | Banks | 6700.0 | 12744.0 |
| <sup>a,b</sup> Ping An Healthcare and Technology Co. Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Health Care Technology | 2000.0 | 5458.0 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., A | Insurance | 3500.0 | 23776.0 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., H | Insurance | 28950.0 | 191579.0 |
| &nbsp;&nbsp;&nbsp; Pingdingshan Tianan Coal Mining Co. Ltd., A | Oil, Gas & Consumable Fuels | 800.0 | 1250.0 |
| &nbsp;&nbsp;&nbsp; Poly Developments and Holdings Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Real Estate Management & Development | 4200.0 | 9184.0 |
| &nbsp;&nbsp;&nbsp; Poly Property Services Co. Ltd., H | Real Estate Management & Development | 800.0 | 4720.0 |
| &nbsp;&nbsp; <sup>b</sup> Pop Mart International Group Ltd., 144A | Specialty Retail | 3600.0 | 9142.0 |
| &nbsp;&nbsp; <sup>b</sup> Postal Savings Bank of China Co. Ltd., 144A | Banks | 42000.0 | 26099.0 |
| &nbsp;&nbsp;&nbsp; Postal Savings Bank of China Co. Ltd. | Banks | 7400.0 | 4941.0 |
| &nbsp;&nbsp;&nbsp; Power Construction Corp. of China Ltd. | Construction & Engineering | 3900.0 | 3991.0 |
| &nbsp;&nbsp;&nbsp; Qingdao Port International Co. Ltd., A | Transportation Infrastructure | 400.0 | 324.0 |
| &nbsp;&nbsp;&nbsp; Qingdao TGOOD Electric Co. Ltd. | Electrical Equipment | 400.0 | 879.0 |
| &nbsp;&nbsp; <sup>a</sup> Qinghai Salt Lake Industry Co. Ltd., A | Chemicals | 1800.0 | 5903.0 |
| &nbsp;&nbsp;&nbsp; Qinhuangdao Port Co. Ltd., A | Transportation Infrastructure | 700.0 | 278.0 |
| &nbsp;&nbsp;&nbsp; Raytron Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 111.0 | 597.0 |
| &nbsp;&nbsp; <sup>b</sup> Red Star Macalline Group Corp. Ltd., 144A | Real Estate Management & Development | 3600.0 | 1153.0 |
| &nbsp;&nbsp;&nbsp; Red Star Macalline Group Corp. Ltd., A | Real Estate Management & Development | 420.0 | 285.0 |
| <sup>a,b</sup> Remegen Co. Ltd., H, 144A | Biotechnology | 500.0 | 3709.0 |
| &nbsp;&nbsp; <sup>a</sup> RiseSun Real Estate Development Co. Ltd. | Real Estate Management & Development | 1100.0 | 345.0 |
| &nbsp;&nbsp; <sup>a</sup> RLX Technology Inc., ADR | Tobacco | 3549.0 | 8163.0 |
| &nbsp;&nbsp;&nbsp; Rongsheng Petrochemical Co. Ltd. | Chemicals | 1250.0 | 2222.0 |
| &nbsp;&nbsp;&nbsp; SAIC Motor Corp. Ltd. | Automobiles | 3500.0 | 7290.0 |
| &nbsp;&nbsp;&nbsp; Sailun Group Co. Ltd., A | Auto Components | 1100.0 | 1593.0 |
| &nbsp;&nbsp;&nbsp; Sangfor Technologies Inc. | Software | 100.0 | 1627.0 |
| &nbsp;&nbsp;&nbsp; Sansteel Minguang Co. Ltd. Fujian | Metals & Mining | 700.0 | 476.0 |
| &nbsp;&nbsp;&nbsp; Sany Heavy Industry Co. Ltd., A | Machinery | 2800.0 | 6394.0 |
| &nbsp;&nbsp;&nbsp; Satellite Chemical Co. Ltd. | Chemicals | 1113.0 | 2493.0 |
| &nbsp;&nbsp;&nbsp; Sealand Securities Co. Ltd. | Capital Markets | 1280.0 | 616.0 |
| &nbsp;&nbsp; <sup>a</sup> Seazen Group Ltd. | Real Estate Management & Development | 12000.0 | 4443.0 |
| &nbsp;&nbsp; <sup>a</sup> Seazen Holdings Co. Ltd., A | Real Estate Management & Development | 800.0 | 2370.0 |
| &nbsp;&nbsp;&nbsp; SF Holding Co. Ltd. | Air Freight & Logistics | 1400.0 | 11688.0 |
| &nbsp;&nbsp;&nbsp; SG Micro Corp., A | Semiconductors & Semiconductor Equipment | 150.0 | 3742.0 |
| &nbsp;&nbsp;&nbsp; Shaanxi Coal Industry Co. Ltd. | Oil, Gas & Consumable Fuels | 3500.0 | 9399.0 |
| &nbsp;&nbsp;&nbsp; Shaanxi International Trust Co. Ltd. | Capital Markets | 700.0 | 307.0 |
| &nbsp;&nbsp;&nbsp; Shan Xi Hua Yang Group New Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 700.0 | 1442.0 |
| &nbsp;&nbsp; <sup>a</sup> Shandong Chenming Paper Holdings Ltd., A | Paper & Forest Products | 700.0 | 504.0 |
| &nbsp;&nbsp; <sup>a</sup> Shandong Chenming Paper Holdings Ltd., B | Paper & Forest Products | 3500.0 | 1067.0 |
| &nbsp;&nbsp; <sup>a</sup> Shandong Chenming Paper Holdings Ltd., H | Paper & Forest Products | 3000.0 | 949.0 |
| &nbsp;&nbsp;&nbsp; Shandong Denghai Seeds Co. Ltd. | Food Products | 400.0 | 1146.0 |
| &nbsp;&nbsp; <sup>b</sup> Shandong Gold Mining Co. Ltd., 144A | Metals & Mining | 3500.0 | 6493.0 |
| &nbsp;&nbsp;&nbsp; Shandong Gold Mining Co. Ltd., A | Metals & Mining | 1400.0 | 3877.0 |
| &nbsp;&nbsp;&nbsp; Shandong Himile Mechanical Science & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Co. Ltd. | Machinery | 400.0 | 1338.0 |
| &nbsp;&nbsp;&nbsp; Shandong Hi-speed Co. Ltd., A | Transportation Infrastructure | 1100.0 | 905.0 |
| &nbsp;&nbsp;&nbsp; Shandong Hualu Hengsheng Chemical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 700.0 | 3354.0 |
| &nbsp;&nbsp;&nbsp; Shandong Humon Smelting Co. Ltd. | Metals & Mining | 400.0 | 609.0 |
| &nbsp;&nbsp;&nbsp; Shandong Linglong Tyre Co. Ltd., A | Auto Components | 400.0 | 1184.0 |
| &nbsp;&nbsp;&nbsp; Shandong Nanshan Aluminum Co. Ltd., A | Metals & Mining | 3500.0 | 1654.0 |
| &nbsp;&nbsp;&nbsp; Shandong Pharmaceutical Glass Co. Ltd., A | Health Care Equipment & Supplies | 400.0 | 1642.0 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Sun Paper Industry JSC Ltd., A | Paper & Forest Products | 700 | 1166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Weigao Group Medical Polymer Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Health Care Equipment & Supplies | 11800 | 19382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai 2345 Network Holding Group Co. Ltd. | Software | 1100 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai AJ Group Co. Ltd., A | Diversified Financial Services | 400 | 319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Bailian Group Co. Ltd., B | Food & Staples Retailing | 1400 | 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Bairun Investment Holding Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Beverages | 392 | 2117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., B | Software | 2612 | 8084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Construction Group Co. Ltd., A | Construction & Engineering | 2500 | 939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Dazhong Public Utilities Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Gas Utilities | 700 | 299 |
| &nbsp;&nbsp; <sup>a</sup> Shanghai Electric Group Co. Ltd., A | Electrical Equipment | 2800 | 1594 |
| &nbsp;&nbsp; <sup>a</sup> Shanghai Electric Group Co. Ltd., H | Electrical Equipment | 14000 | 3157 |
| &nbsp;&nbsp; <sup>a</sup> Shanghai Electric Power Co. Ltd., A | Independent Power Producers & Energy Traders | 1100 | 1591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fosun Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 700 | 3565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fosun Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Pharmaceuticals | 2000 | 6406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fudan Microelectronics Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Semiconductors & Semiconductor Equipment | 1000 | 3780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Huayi Group Co. Ltd., B | Chemicals | 700 | 401 |
| &nbsp;&nbsp; <sup>a</sup> Shanghai International Airport Co. Ltd., A | Transportation Infrastructure | 800 | 6673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai International Port Group Co. Ltd., A | Transportation Infrastructure | 3500 | 2701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinjiang International Hotels Co. Ltd. | Hotels, Restaurants & Leisure | 700 | 1403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinjiang International Hotels Co. Ltd., A | Hotels, Restaurants & Leisure | 400 | 3373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinqiao Export Processing Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 400 | 642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinqiao Export Processing Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., B | Real Estate Management & Development | 1100 | 1000 |
| <sup>a,b</sup> Shanghai Junshi Biosciences Co. Ltd., H, 144A | Biotechnology | 1000 | 6214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lingang Holdings Corp. Ltd. | Real Estate Management & Development | 520 | 896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 700 | 985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., B | Real Estate Management & Development | 5300 | 4282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Mechanical and Electrical Industry Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., B | Machinery | 1400 | 1429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pharmaceuticals Holding Co. Ltd., A | Health Care Providers & Services | 1000 | 2577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pharmaceuticals Holding Co. Ltd., H | Health Care Providers & Services | 4400 | 7317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pudong Development Bank Co. Ltd., A | Banks | 10500 | 11048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Putailai New Energy Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 540 | 4050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai RAAS Blood Products Co. Ltd., A | Biotechnology | 1800 | 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Shibei Hi-Tech Co. Ltd., B | Real Estate Management & Development | 3200 | 829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Tunnel Engineering Co. Ltd., A | Construction & Engineering | 1400 | 1066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Waigaoqiao Free Trade Zone Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Trading Companies & Distributors | 700 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Waigaoqiao Free Trade Zone Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Trading Companies & Distributors | 400 | 691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Yuyuan Tourist Mart Group Co. Ltd., A | Specialty Retail | 1400 | 1540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Zhangjiang High-Tech Park |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 700 | 1147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Zhenhua Heavy Industries Co. Ltd., B | Machinery | 3900 | 967 |
| &nbsp;&nbsp; <sup>a</sup> Shangri-La Asia Ltd. | Hotels, Restaurants & Leisure | 6000 | 4920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Coking Coal Energy Group Co. Ltd. | Oil, Gas & Consumable Fuels | 1480 | 2492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Lu'an Environmental Energy Development |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Oil, Gas & Consumable Fuels | 1100 | 2679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Meijin Energy Co. Ltd., A | Metals & Mining | 1400 | 1825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Securities Co. Ltd. | Capital Markets | 820 | 628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Taigang Stainless Steel Co. Ltd., A | Metals & Mining | 2100 | 1311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Xinghuacun Fen Wine Factory Co. Ltd., A | Beverages | 400 | 16476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanying International Holding Co. Ltd., A | Paper & Forest Products | 1100 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shenghe Resources Holding Co. Ltd., A | Metals & Mining | 700 | 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shengyi Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 700 | 1458 |

---

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Shennan Circuits Co. Ltd., A | Electronic Equipment, Instruments & Components | 100.0 | 1043 |
| &nbsp;&nbsp;&nbsp; Shenwan Hongyuan Group Co. Ltd. | Capital Markets | 7400.0 | 4257.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenwan Hongyuan Group Co. Ltd., 144A | Capital Markets | 8800.0 | 1635.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Agricultural Products Group Co. Ltd. | Food & Staples Retailing | 400.0 | 330.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Airport Co. Ltd. | Transportation Infrastructure | 700.0 | 795.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Aisidi Co. Ltd. | Electronic Equipment, Instruments & Components | 400.0 | 548.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Capchem Technology Co. Ltd., A | Chemicals | 360.0 | 2262.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Dynanonic Co. Ltd., A | Chemicals | 50.0 | 1659.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Energy Group Co. Ltd. | Independent Power Producers & Energy Traders | 1880.0 | 1728.0 |
| &nbsp;&nbsp; <sup>a</sup> Shenzhen Everwin Precision Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 460.0 | 687.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Expressway Corp. Ltd., H | Transportation Infrastructure | 4000.0 | 3449.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Gas Corp. Ltd., A | Gas Utilities | 1100.0 | 1040.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenzhen Hepalink Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., 144A | Pharmaceuticals | 500.0 | 350.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Huaqiang Industry Co. Ltd. | Electronic Equipment, Instruments & Components | 400.0 | 706.0 |
| &nbsp;&nbsp; <sup>a</sup> Shenzhen Infogem Technologies Co. Ltd., A | Software | 400.0 | 538.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Inovance Technology Co. Ltd. | Machinery | 900.0 | 9041.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen International Holdings Ltd. | Transportation Infrastructure | 7000.0 | 6870.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Investment Ltd. | Real Estate Management & Development | 14000.0 | 2404.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Jinjia Group Co. Ltd. | Containers & Packaging | 400.0 | 418.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kaifa Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 400.0 | 618.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kangtai Biological Products Co. Ltd. | Biotechnology | 480.0 | 2187.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kedali Industry Co. Ltd., A | Auto Components | 100.0 | 1717.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kingdom Sci-Tech Co. Ltd., A | Software | 400.0 | 595.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Mindray Bio-Medical Electronics Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Health Care Equipment & Supplies | 400.0 | 18267.0 |
| &nbsp;&nbsp; <sup>a</sup> Shenzhen MTC Co. Ltd. | Household Durables | 2100.0 | 1059.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Overseas Chinese Town Co. Ltd. | Hotels, Restaurants & Leisure | 2500.0 | 1926.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Salubris Pharmaceuticals Co. Ltd. | Pharmaceuticals | 400.0 | 1899.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen SC New Energy Technology Corp., A | Semiconductors & Semiconductor Equipment | 100.0 | 1648.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Sunway Communication Co. Ltd. | Communications Equipment | 400.0 | 954.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Transsion Holdings Co. Ltd., A | Technology Hardware, Storage & Peripherals | 216.0 | 2483.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Yan Tian Port Holding Co. Ltd., A | Transportation Infrastructure | 700.0 | 513.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen YUTO Packaging Technology Co. Ltd. | Containers & Packaging | 400.0 | 1912.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., A | Metals & Mining | 1100.0 | 652.0 |
| &nbsp;&nbsp;&nbsp; Shenzhou International Group Holdings Ltd. | Textiles, Apparel & Luxury Goods | 3600.0 | 40497.0 |
| &nbsp;&nbsp; <sup>a</sup> Shijiazhuang Changshan BeiMing Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Textiles, Apparel & Luxury Goods | 400.0 | 325.0 |
| &nbsp;&nbsp;&nbsp; Shijiazhuang Yiling Pharmaceutical Co. Ltd. | Pharmaceuticals | 720.0 | 3118.0 |
| <sup>a,c</sup> Shimao Group Holdings Ltd. | Real Estate Management & Development | 8500.0 | 2217.0 |
| <sup>a,b</sup> Shimao Services Holdings Ltd., Z, 144A | Real Estate Management & Development | 4000.0 | 1445.0 |
| &nbsp;&nbsp;&nbsp; Shinghwa Advanced Material Group Co. Ltd., A | Chemicals | 100.0 | 1334.0 |
| &nbsp;&nbsp;&nbsp; Shui On Land Ltd. | Real Estate Management & Development | 18000.0 | 2283.0 |
| &nbsp;&nbsp; <sup>a</sup> Siasun Robot & Automation Co. Ltd. | Machinery | 400.0 | 519.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Chuantou Energy Co. Ltd., A | Independent Power Producers & Energy Traders | 1400.0 | 2475.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Hebang Biotechnology Co. Ltd., A | Chemicals | 3500.0 | 1538.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Kelun Pharmaceutical Co. Ltd. | Pharmaceuticals | 400.0 | 1538.0 |
| &nbsp;&nbsp; <sup>a</sup> Sichuan New Energy Power Co. Ltd. | Trading Companies & Distributors | 400.0 | 1031.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Road and Bridge Group Co. Ltd., A | Construction & Engineering | 1800.0 | 2893.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Swellfun Co. Ltd., A | Beverages | 200.0 | 2440.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Yahua Industrial Group Co. Ltd., A | Chemicals | 400.0 | 1344.0 |
| &nbsp;&nbsp;&nbsp; Sieyuan Electric Co. Ltd. | Electrical Equipment | 400.0 | 2210.0 |
| &nbsp;&nbsp;&nbsp; Silergy Corp. | Semiconductors & Semiconductor Equipment | 1610.0 | 22865.0 |
| &nbsp;&nbsp;&nbsp; Sinoma International Engineering Co. | Construction & Engineering | 700.0 | 862.0 |
| &nbsp;&nbsp;&nbsp; Sinoma Science & Technology Co. Ltd. | Chemicals | 700.0 | 2168.0 |
| &nbsp;&nbsp;&nbsp; Sino-Ocean Group Holding Ltd. | Real Estate Management & Development | 14000.0 | 1955.0 |
| &nbsp;&nbsp;&nbsp; Sinopec Engineering Group Co. Ltd. | Construction & Engineering | 7500.0 | 3296.0 |
| &nbsp;&nbsp; <sup>a</sup> Sinopec Oilfield Service Corp. | Energy Equipment & Services | 14000.0 | 915.0 |
| &nbsp;&nbsp; <sup>a</sup> Sinopec Oilfield Service Corp., A | Energy Equipment & Services | 1100.0 | 315.0 |
| &nbsp;&nbsp;&nbsp; Sinopec Shanghai Petrochemical Co. Ltd., A | Chemicals | 1400.0 | 629.0 |
| &nbsp;&nbsp;&nbsp; Sinopec Shanghai Petrochemical Co. Ltd., H | Chemicals | 18000.0 | 3044.0 |
| &nbsp;&nbsp;&nbsp; Sinopharm Group Co. Ltd., H | Health Care Providers & Services | 6400.0 | 16269.0 |
| &nbsp;&nbsp;&nbsp; Sinotrans Ltd., A | Air Freight & Logistics | 1800.0 | 999.0 |
| &nbsp;&nbsp;&nbsp; Sinotrans Ltd., H | Air Freight & Logistics | 11000.0 | 3580.0 |
| &nbsp;&nbsp;&nbsp; Sinotruk Hong Kong Ltd. | Machinery | 3500.0 | 4879.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SITC International Holdings Co. Ltd. | Marine | 6000 | 13345 |
| &nbsp;&nbsp; <sup>a</sup> Skshu Paint Co. Ltd., A | Chemicals | 100 | 1645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworth Digital Co. Ltd., A | Communications Equipment | 400 | 806 |
| &nbsp;&nbsp; <sup>b</sup> Smoore International Holdings Ltd., 144A | Tobacco | 8750 | 13588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Songcheng Performance Development Co. Ltd. | Hotels, Restaurants & Leisure | 1100 | 2321 |
| &nbsp;&nbsp;&nbsp;&nbsp; SooChow Securities Co. Ltd., A | Capital Markets | 1886 | 1780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Securities Co. Ltd., A | Capital Markets | 2500 | 1355 |
| &nbsp;&nbsp;&nbsp;&nbsp; StarPower Semiconductor Ltd., A | Semiconductors & Semiconductor Equipment | 100 | 4759 |
| &nbsp;&nbsp; <sup>a</sup> STO Express Co. Ltd. | Air Freight & Logistics | 400 | 597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Art Retail Group Ltd. | Food & Staples Retailing | 9000 | 2952 |
| <sup>a,c</sup> Sunac China Holdings Ltd. | Real Estate Management & Development | 18000 | 3702 |
| &nbsp;&nbsp; <sup>b</sup> Sunac Services Holdings Ltd., 144A | Real Estate Management & Development | 4000 | 2152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sungrow Power Supply Co. Ltd. | Electrical Equipment | 500 | 8079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suning Universal Co. Ltd. | Real Estate Management & Development | 1800 | 859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunny Optical Technology Group Co. Ltd. | Electronic Equipment, Instruments & Components | 3100 | 36879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunwoda Electronic Co. Ltd., A | Electrical Equipment | 700 | 2140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suofeiya Home Collection Co. Ltd. | Household Durables | 400 | 1050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Anjie Technology Co. Ltd., A | Electrical Equipment | 400 | 714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Dongshan Precision Manufacturing Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 700 | 2502 |
| &nbsp;&nbsp; <sup>a</sup> Suzhou Gold Mantis Construction Decoration Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Construction & Engineering | 700 | 491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Maxwell Technologies Co. Ltd. | Electrical Equipment | 100 | 5952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou TA&A Ultra Clean Technology Co. Ltd., A | Chemicals | 200 | 1615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiji Computer Corp. Ltd. | IT Services | 400 | 1626 |
| &nbsp;&nbsp; <sup>a</sup> TAL Education Group, ADR | Diversified Consumer Services | 2191 | 15447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tangshan Jidong Cement Co. Ltd. | Construction Materials | 1100 | 1308 |
| &nbsp;&nbsp;&nbsp;&nbsp; TangShan Port Group Co. Ltd., A | Transportation Infrastructure | 1400 | 554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tangshan Sanyou Chemical Industries Co. Ltd., A | Chemicals | 700 | 669 |
| &nbsp;&nbsp;&nbsp;&nbsp; TBEA Co. Ltd., A | Electrical Equipment | 1400 | 4063 |
| &nbsp;&nbsp;&nbsp;&nbsp; TCL Technology Group Corp. | Household Durables | 4600 | 2473 |
| &nbsp;&nbsp;&nbsp;&nbsp; TCL Zhonghuan Renewable Energy Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Semiconductors & Semiconductor Equipment | 1100 | 5987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | Interactive Media & Services | 29000 | 1241007 |
| &nbsp;&nbsp; <sup>a</sup> Tencent Music Entertainment Group, ADR | Entertainment | 2933 | 24285 |
| &nbsp;&nbsp;&nbsp;&nbsp; The People's Insurance Co. Group of China |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Insurance | 41000 | 13605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thunder Software Technology Co. Ltd. | Software | 200 | 2899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tian Di Science & Technology Co. Ltd., A | Machinery | 1400 | 1052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianjin Chase Sun Pharmaceutical Co. Ltd. | Pharmaceuticals | 1100 | 903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianma Microelectronics Co. Ltd. | Electronic Equipment, Instruments & Components | 800 | 1001 |
| &nbsp;&nbsp; <sup>a</sup> Tianqi Lithium Corp., A | Chemicals | 500 | 5708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianshan Aluminum Group Co. Ltd., A | Machinery | 700 | 781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianshui Huatian Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 1100 | 1318 |
| &nbsp;&nbsp; <sup>a</sup> Tibet Summit Resources Co. Ltd., A | Metals & Mining | 400 | 1325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | Food Products | 8000 | 14124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Titan Wind Energy Suzhou Co. Ltd., A | Electrical Equipment | 700 | 1531 |
| &nbsp;&nbsp; <sup>a</sup> Tongcheng Travel Holdings Ltd. | Internet & Catalog Retail | 4400 | 10587 |
| &nbsp;&nbsp; <sup>a</sup> TongFu Microelectronics Co. Ltd., A | Semiconductors & Semiconductor Equipment | 400 | 953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tongkun Group Co. Ltd., A | Chemicals | 700 | 1462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tongling Nonferrous Metals Group Co. Ltd. | Metals & Mining | 3900 | 1759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tongwei Co. Ltd., A | Food Products | 1600 | 8922 |
| &nbsp;&nbsp; <sup>a</sup> Topchoice Medical Corp., A | Health Care Providers & Services | 100 | 2211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Topsec Technologies Group Inc., A | Electrical Equipment | 400 | 578 |
| &nbsp;&nbsp; <sup>b</sup> Topsports International Holdings Ltd., 144A | Specialty Retail | 9000 | 7138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Towngas Smart Energy Co. Ltd. | Gas Utilities | 6000 | 3013 |
| &nbsp;&nbsp;&nbsp;&nbsp; TravelSky Technology Ltd., H | IT Services | 4000 | 8456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trina Solar Co. Ltd., A | Semiconductors & Semiconductor Equipment | 739 | 6810 |
| &nbsp;&nbsp; <sup>a</sup> Trip.com Group Ltd., ADR | Internet & Catalog Retail | 2569 | 88374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tsingtao Brewery Co. Ltd., A | Beverages | 300 | 4661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tsingtao Brewery Co. Ltd., H | Beverages | 2849 | 28143 |
| &nbsp;&nbsp; <sup>a</sup> Tuya Inc., ADR | Software | 588 | 1123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unigroup Guoxin Microelectronics Co. Ltd. | Electronic Equipment, Instruments & Components | 319 | 6078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uni-President China Holdings Ltd. | Food Products | 6000 | 6004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unisplendour Corp. Ltd. | Electronic Equipment, Instruments & Components | 560 | 1579 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Universal Scientific Industrial Shanghai Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 400.0 | 938.0 |
| &nbsp;&nbsp;&nbsp; Valiant Co. Ltd., A | Chemicals | 400.0 | 848.0 |
| &nbsp;&nbsp; <sup>a</sup> Vipshop Holdings Ltd., ADR | Internet & Catalog Retail | 1883.0 | 25684.0 |
| &nbsp;&nbsp;&nbsp; Visual China Group Co. Ltd., A | Internet & Catalog Retail | 400.0 | 711.0 |
| &nbsp;&nbsp;&nbsp; Walvax Biotechnology Co. Ltd. | Biotechnology | 700.0 | 4066.0 |
| &nbsp;&nbsp;&nbsp; Wangsu Science & Technology Co. Ltd. | IT Services | 700.0 | 565.0 |
| &nbsp;&nbsp;&nbsp; Wanhua Chemical Group Co. Ltd., A | Chemicals | 1100.0 | 14730.0 |
| &nbsp;&nbsp;&nbsp; Want Want China Holdings Ltd. | Food Products | 22000.0 | 14714.0 |
| &nbsp;&nbsp;&nbsp; Wanxiang Qianchao Co. Ltd. | Auto Components | 1400.0 | 985.0 |
| &nbsp;&nbsp; <sup>a</sup> Weibo Corp., ADR | Interactive Media & Services | 354.0 | 6768.0 |
| &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd., A | Machinery | 2500.0 | 3678.0 |
| &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd., H | Machinery | 10000.0 | 13427.0 |
| &nbsp;&nbsp;&nbsp; Weifu High-Technology Group Co. Ltd., A | Auto Components | 400.0 | 1025.0 |
| &nbsp;&nbsp;&nbsp; Weifu High-Technology Group Co. Ltd., B | Auto Components | 700.0 | 1181.0 |
| &nbsp;&nbsp;&nbsp; Weihai Guangwei Composites Co. Ltd., A | Chemicals | 200.0 | 2089.0 |
| &nbsp;&nbsp;&nbsp; Wens Foodstuffs Group Co. Ltd. | Food Products | 700.0 | 1986.0 |
| &nbsp;&nbsp;&nbsp; Western Mining Co. Ltd., A | Metals & Mining | 700.0 | 1032.0 |
| &nbsp;&nbsp;&nbsp; Western Securities Co. Ltd. | Capital Markets | 1800.0 | 1584.0 |
| &nbsp;&nbsp;&nbsp; Western Superconducting Technologies Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 119.0 | 1629.0 |
| &nbsp;&nbsp;&nbsp; Westone Information Industry Inc. | Electronic Equipment, Instruments & Components | 400.0 | 1765.0 |
| &nbsp;&nbsp;&nbsp; Will Semiconductor Co. Ltd. Shanghai, A | Semiconductors & Semiconductor Equipment | 200.0 | 2228.0 |
| &nbsp;&nbsp;&nbsp; Wingtech Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 500.0 | 3800.0 |
| &nbsp;&nbsp;&nbsp; Winning Health Technology Group Co. Ltd. | Health Care Technology | 700.0 | 1040.0 |
| &nbsp;&nbsp;&nbsp; Wolong Electric Group Co. Ltd., A | Electrical Equipment | 400.0 | 720.0 |
| &nbsp;&nbsp;&nbsp; Wuchan Zhongda Group Co. Ltd., A | Distributors | 1800.0 | 1251.0 |
| &nbsp;&nbsp;&nbsp; Wuhan Guide Infrared Co. Ltd. | Electronic Equipment, Instruments & Components | 1042.0 | 1657.0 |
| &nbsp;&nbsp;&nbsp; Wuliangye Yibin Co. Ltd., A | Beverages | 1300.0 | 33950.0 |
| &nbsp;&nbsp;&nbsp; WUS Printed Circuit Kunshan Co. Ltd. | Electronic Equipment, Instruments & Components | 700.0 | 1204.0 |
| &nbsp;&nbsp; <sup>b</sup> WuXi AppTec Co. Ltd., 144A | Life Sciences Tools & Services | 1500.0 | 15846.0 |
| &nbsp;&nbsp;&nbsp; WuXi AppTec Co. Ltd., A | Life Sciences Tools & Services | 900.0 | 10536.0 |
| <sup>a,b</sup> Wuxi Biologics Cayman Inc., 144A | Life Sciences Tools & Services | 17000.0 | 130360.0 |
| &nbsp;&nbsp;&nbsp; Wuxi Shangji Automation Co. Ltd., A | Machinery | 140.0 | 2142.0 |
| &nbsp;&nbsp;&nbsp; XCMG Construction Machinery Co. Ltd. | Machinery | 2500.0 | 1832.0 |
| &nbsp;&nbsp;&nbsp; Xiamen C & D Inc., A | Trading Companies & Distributors | 1100.0 | 2170.0 |
| &nbsp;&nbsp;&nbsp; Xiamen Faratronic Co. Ltd., A | Electronic Equipment, Instruments & Components | 100.0 | 2311.0 |
| &nbsp;&nbsp;&nbsp; Xiamen ITG Group Corp. Ltd., A | Trading Companies & Distributors | 700.0 | 722.0 |
| &nbsp;&nbsp;&nbsp; Xiamen Tungsten Co. Ltd., A | Metals & Mining | 500.0 | 1413.0 |
| &nbsp;&nbsp;&nbsp; Xiangcai Co. Ltd., A | Real Estate Management & Development | 700.0 | 765.0 |
| <sup>a,b</sup> Xiaomi Corp., B, 144A | Technology Hardware, Storage & Peripherals | 71400.0 | 100080.0 |
| &nbsp;&nbsp;&nbsp; Xinhua Winshare Publishing and Media Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Distributors | 2000.0 | 1350.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Goldwind Science & Technology Co. Ltd. | Electrical Equipment | 1100.0 | 1749.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Goldwind Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Electrical Equipment | 3600.0 | 3206.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Tianshan Cement Co. Ltd., A | Construction Materials | 700.0 | 862.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Zhongtai Chemical Co. Ltd., A | Chemicals | 1100.0 | 1186.0 |
| &nbsp;&nbsp;&nbsp; Xinxing Ductile Iron Pipes Co. Ltd. | Metals & Mining | 1800.0 | 950.0 |
| &nbsp;&nbsp;&nbsp; Xinyangfeng Agricultural Technology Co. Ltd. | Chemicals | 400.0 | 665.0 |
| &nbsp;&nbsp;&nbsp; Xinyi Solar Holdings Ltd. | Semiconductors & Semiconductor Equipment | 21000.0 | 23247.0 |
| &nbsp;&nbsp; <sup>a</sup> XPeng Inc., A | Automobiles | 4900.0 | 24076.0 |
| &nbsp;&nbsp;&nbsp; Xtep International Holdings Ltd. | Textiles, Apparel & Luxury Goods | 5500.0 | 6124.0 |
| &nbsp;&nbsp;&nbsp; Xuji Electric Co. Ltd., A | Electrical Equipment | 400.0 | 1155.0 |
| &nbsp;&nbsp; <sup>b</sup> Yadea Group Holdings Ltd., 144A | Automobiles | 4700.0 | 7865.0 |
| &nbsp;&nbsp; <sup>a</sup> Yango Group Co. Ltd. | Real Estate Management & Development | 2100.0 | 571.0 |
| &nbsp;&nbsp; <sup>b</sup> Yangtze Optical Fibre and Cable Joint Stock Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co., 144A | Communications Equipment | 1000.0 | 1781.0 |
| &nbsp;&nbsp;&nbsp; Yangzhou Yangjie Electronic Technology Co. Ltd. | Semiconductors & Semiconductor Equipment | 200.0 | 1520.0 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings Ltd. | Machinery | 12600.0 | 12777.0 |
| &nbsp;&nbsp;&nbsp; Yankuang Energy Group Co. Ltd., A | Oil, Gas & Consumable Fuels | 500.0 | 2427.0 |
| &nbsp;&nbsp;&nbsp; Yankuang Energy Group Co. Ltd., H | Oil, Gas & Consumable Fuels | 10000.0 | 30493.0 |
| &nbsp;&nbsp;&nbsp; Yantai Changyu Pioneer Wine Co. Ltd., B | Beverages | 1100.0 | 1629.0 |
| &nbsp;&nbsp;&nbsp; Yantai Eddie Precision Machinery Co. Ltd., A | Machinery | 440.0 | 949.0 |
| &nbsp;&nbsp;&nbsp; Yantai Jereh Oilfield Services Group Co. Ltd. | Energy Equipment & Services | 400.0 | 1614.0 |

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------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> Yatsen Holding Ltd., ADR | Personal Products | 1285 | 1876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yealink Network Technology Corp. Ltd. | Communications Equipment | 300 | 2627 |
| &nbsp;&nbsp; <sup>a</sup> Yifan Pharmaceutical Co. Ltd. | Pharmaceuticals | 400 | 708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yifeng Pharmacy Chain Co. Ltd. | Food & Staples Retailing | 260 | 2399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yihai International Holding Ltd. | Food Products | 2300 | 8133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yihai Kerry Arawana Holdings Co. Ltd., A | Food Products | 700 | 4407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yintai Gold Co. Ltd. | Metals & Mining | 700 | 1117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yixintang Pharmaceutical Group Co. Ltd. | Food & Staples Retailing | 200 | 911 |
| &nbsp;&nbsp;&nbsp;&nbsp; YongXing Special Materials Technology Co. Ltd. | Metals & Mining | 100 | 1332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yonyou Network Technology Co. Ltd., A | Software | 1280 | 4471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Youngor Group Co. Ltd., A | Real Estate Management & Development | 1800 | 1647 |
| &nbsp;&nbsp;&nbsp;&nbsp; YTO Express Group Co. Ltd., A | Air Freight & Logistics | 1100 | 3194 |
| &nbsp;&nbsp; <sup>a</sup> Yuan Longping High-tech Agriculture Co. Ltd. | Food Products | 400 | 929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yuexiu Property Co. Ltd. | Real Estate Management & Development | 7000 | 8475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum China Holdings Inc. | Hotels, Restaurants & Leisure | 2100 | 118117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunda Holding Co. Ltd., A | Air Freight & Logistics | 400 | 831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Aluminium Co. Ltd. | Metals & Mining | 1100 | 1768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Baiyao Group Co. Ltd. | Pharmaceuticals | 600 | 4714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Botanee Bio-Technology Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Personal Products | 100 | 2157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Copper Co. Ltd. | Metals & Mining | 700 | 1189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Energy New Material Co. Ltd. | Containers & Packaging | 300 | 5693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Tin Co. Ltd. | Metals & Mining | 600 | 1223 |
| &nbsp;&nbsp; <sup>a</sup> Zai Lab Ltd., ADR | Biotechnology | 459 | 14091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhangzhou Pientzehuang Pharmaceutical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Pharmaceuticals | 200 | 8338 |
| &nbsp;&nbsp; <sup>a</sup> Zhaojin Mining Industry Co. Ltd., H | Metals & Mining | 5500 | 6117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhefu Holding Group Co. Ltd. | Electrical Equipment | 2100 | 1187 |
| &nbsp;&nbsp; <sup>a</sup> Zhejiang Century Huatong Group Co. Ltd., A | Entertainment | 2800 | 1542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang China Commodities City Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Real Estate Management & Development | 2100 | 1590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Chint Electrics Co. Ltd., A | Electrical Equipment | 500 | 2002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Crystal-Optech Co. Ltd. | Electronic Equipment, Instruments & Components | 580 | 988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Dahua Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 1100 | 1798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Dingli Machinery Co. Ltd. | Machinery | 200 | 1383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Expressway Co. Ltd., H | Transportation Infrastructure | 7000 | 5390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Hailiang Co. Ltd. | Metals & Mining | 400 | 653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Hisoar Pharmaceutical Co. Ltd., A | Pharmaceuticals | 400 | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huace Film & Television Co. Ltd. | Entertainment | 400 | 308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huahai Pharmaceutical Co. Ltd., A | Pharmaceuticals | 400 | 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huayou Cobalt Co. Ltd., A | Metals & Mining | 400 | 3216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Jingsheng Mechanical & Electrical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Semiconductors & Semiconductor Equipment | 500 | 4593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Jiuzhou Pharmaceutical Co. Ltd., A | Pharmaceuticals | 400 | 2453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Juhua Co. Ltd., A | Chemicals | 1100 | 2466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Medicine Co. Ltd., A | Pharmaceuticals | 400 | 676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang NHU Co. Ltd. | Pharmaceuticals | 1244 | 3371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Runtu Co. Ltd. | Chemicals | 400 | 419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Sanhua Intelligent Controls Co. Ltd. | Machinery | 400 | 1227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Semir Garment Co. Ltd. | Textiles, Apparel & Luxury Goods | 400 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Supor Co. Ltd. | Household Durables | 200 | 1430 |
| &nbsp;&nbsp; <sup>a</sup> Zhejiang Wanliyang Co. Ltd. | Machinery | 400 | 465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Weiming Environment Protection Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Commercial Services & Supplies | 520 | 1393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Weixing New Building Materials Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Building Products | 700 | 2159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., A | Pharmaceuticals | 200 | 1593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Yongtai Technology Co. Ltd., A | Chemicals | 400 | 1262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhengzhou Coal Mining Machinery Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 700 | 1129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zheshang Securities Co. Ltd., A | Capital Markets | 400 | 574 |
| &nbsp;&nbsp; <sup>a</sup> Zhihu Inc., ADR | Interactive Media & Services | 781 | 1015 |
| <sup>a,b</sup> ZhongAn Online P&C Insurance Co. Ltd., 144A | Insurance | 3900 | 10743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongji Innolight Co. Ltd. | Machinery | 400 | 1563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongshan Public Utilities Group Co. Ltd., A | Water Utilities | 700 | 711 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Zhongsheng Group Holdings Ltd. | Specialty Retail | 3000 | 15433 |
| Zhongtai Securities Co. Ltd., A | Capital Markets | 1100.0 | 1019 |
| Zhuhai Huafa Properties Co. Ltd., A | Real Estate Management & Development | 700.0 | 917 |
| Zhuzhou CRRC Times Electric Co. Ltd., A | Electrical Equipment | 200.0 | 1577 |
| Zhuzhou CRRC Times Electric Co. Ltd., H | Electrical Equipment | 2700.0 | 13405 |
| Zhuzhou Hongda Electronics Corp. Ltd., A | Electronic Equipment, Instruments & Components | 200.0 | 1276 |
| Zhuzhou Kibing Group Co. Ltd., A | Building Products | 700.0 | 1152 |
| Zijin Mining Group Co. Ltd., A | Metals & Mining | 7400.0 | 10695 |
| Zijin Mining Group Co. Ltd., H | Metals & Mining | 28000.0 | 37955 |
| Zoomlion Heavy Industry Science and Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Machinery | 2800.0 | 2202 |
| Zoomlion Heavy Industry Science and Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., H | Machinery | 7800.0 | 3688 |
| ZTE Corp. | Communications Equipment | 1400.0 | 5233 |
| ZTE Corp., H | Communications Equipment | 4000.0 | 8815 |
| ZTO Express Cayman Inc. | Air Freight & Logistics | 2200.0 | 59644 |
|  |  |  | 10033553 |
| **Hong Kong 8.0%** |  |  |  |
| AIA Group Ltd. | Insurance | 57800.0 | 642802 |
| <sup>a</sup> Alibaba Health Information Technology Ltd., A | Health Care Technology | 24000.0 | 20449 |
| <sup>a</sup> Alibaba Pictures Group Ltd., A | Media | 70000.0 | 5112 |
| ASMPT Ltd., A | Semiconductors & Semiconductor Equipment | 1600.0 | 11408 |
| Beijing Enterprises Water Group Ltd., A | Water Utilities | 22000.0 | 5637 |
| Bosideng International Holdings Ltd., A | Household Durables | 14000.0 | 6655 |
| Cafe de Coral Holdings Ltd., A | Hotels, Restaurants & Leisure | 2000.0 | 3818 |
| <sup>a</sup> Cathay Pacific Airways Ltd., A | Airlines | 5000.0 | 5458 |
| Champion REIT, A | Equity Real Estate Investment Trusts (REITs) | 11000.0 | 4341 |
| China Everbright Environment Group Ltd., B | Commercial Services & Supplies | 19000.0 | 8496 |
| China Everbright Ltd., A | Capital Markets | 4000.0 | 2978 |
| China Gas Holdings Ltd., A | Gas Utilities | 14800.0 | 21541 |
| China Mengniu Dairy Co. Ltd., B | Food Products | 15000.0 | 68034 |
| China Power International Development Ltd., H | Independent Power Producers & Energy Traders | 21000.0 | 8879 |
| China Resources Beer Holdings Co. Ltd., A | Beverages | 7553.0 | 52789 |
| China Resources Gas Group Ltd., A | Gas Utilities | 4500.0 | 16893 |
| China Resources Land Ltd., H | Real Estate Management & Development | 13500.0 | 61836 |
| China State Construction International Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Construction & Engineering | 8000.0 | 8989 |
| China Traditional Chinese Medicine Holdings Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Pharmaceuticals | 13000.0 | 5913 |
| CK Asset Holdings Ltd. | Real Estate Management & Development | 9700.0 | 59717 |
| CK Infrastructure Holdings Ltd., A | Electric Utilities | 2900.0 | 15178 |
| CLP Holdings Ltd. | Electric Utilities | 7900.0 | 57644 |
| COSCO SHIPPING Ports Ltd., B | Transportation Infrastructure | 10000.0 | 7944 |
| Dah Sing Banking Group Ltd., A | Banks | 2400.0 | 1722 |
| Dah Sing Financial Holdings Ltd., H | Banks | 800.0 | 1853 |
| DFI Retail Group Holdings Ltd., A | Food & Staples Retailing | 1500.0 | 4395 |
| Far East Horizon Ltd. | Diversified Financial Services | 7000.0 | 5471 |
| Geely Automobile Holdings Ltd. | Automobiles | 25000.0 | 36515 |
| Guangdong Investment Ltd. | Water Utilities | 14000.0 | 14332 |
| Guotai Junan International Holdings Ltd. | Capital Markets | 13000.0 | 1199 |
| <sup>a</sup> Haitong International Securities Group Ltd. | Capital Markets | 15600.0 | 1739 |
| Hang Lung Group Ltd. | Real Estate Management & Development | 4000.0 | 7349 |
| Hang Lung Properties Ltd. | Real Estate Management & Development | 9000.0 | 17597 |
| Hang Seng Bank Ltd. | Banks | 3400.0 | 56544 |
| Henderson Land Development Co. Ltd. | Real Estate Management & Development | 6000.0 | 20948 |
| Hong Kong & China Gas Co. Ltd. | Gas Utilities | 52000.0 | 49435 |
| Hong Kong Exchanges & Clearing Ltd. | Capital Markets | 6100.0 | 263540 |
| Hongkong Land Holdings Ltd. | Real Estate Management & Development | 4900.0 | 22540 |
| Huabao International Holdings Ltd. | Chemicals | 5000.0 | 2582 |
| Hutchison Port Holdings Trust | Transportation Infrastructure | 26300.0 | 5102 |
| Hutchison Telecommunications Hong Kong |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Holdings Ltd. | Diversified Telecommunication Services | 8000.0 | 1250 |
| Hysan Development Co. Ltd. | Real Estate Management & Development | 3000.0 | 9725 |
| Jardine Matheson Holdings Ltd. | Industrial Conglomerates | 930.0 | 47337 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Electric Holdings Ltd. | Electrical Equipment | 2000 | 2519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kerry Properties Ltd. | Real Estate Management & Development | 3000 | 6534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingboard Laminates Holdings Ltd. | Electronic Equipment, Instruments & Components | 5500 | 6046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kunlun Energy Co. Ltd. | Oil, Gas & Consumable Fuels | 18000 | 12846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Link REIT | Equity Real Estate Investment Trusts (REITs) | 10500 | 77086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Man Wah Holdings Ltd. | Household Durables | 8000 | 7964 |
| &nbsp;&nbsp; <sup>a</sup> Melco International Development Ltd. | Hotels, Restaurants & Leisure | 4000 | 4336 |
| &nbsp;&nbsp;&nbsp;&nbsp; MTR Corp. Ltd. | Road & Rail | 7000 | 37085 |
| &nbsp;&nbsp;&nbsp;&nbsp; New World Development Co. Ltd. | Real Estate Management & Development | 7000 | 19731 |
| &nbsp;&nbsp;&nbsp;&nbsp; NWS Holdings Ltd. | Industrial Conglomerates | 7000 | 6054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orient Overseas International Ltd. | Marine | 700 | 12646 |
| &nbsp;&nbsp;&nbsp;&nbsp; PCCW Ltd. | Diversified Telecommunication Services | 21000 | 9471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. | Electric Utilities | 7000 | 38341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Industrial Holdings Ltd. | Industrial Conglomerates | 3000 | 3709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shougang Fushan Resources Group Ltd. | Metals & Mining | 8000 | 2552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sino Biopharmaceutical Ltd. | Pharmaceuticals | 49000 | 28691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sino Land Co. Ltd. | Real Estate Management & Development | 17500 | 21884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Hung Kai Properties Ltd. | Real Estate Management & Development | 7000 | 95785 |
| &nbsp;&nbsp; <sup>a</sup> Super Hi International Holding Ltd. | Hotels, Restaurants & Leisure | 520 | 662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swire Pacific Ltd., A | Real Estate Management & Development | 2000 | 17604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swire Pacific Ltd., B | Real Estate Management & Development | 5000 | 6803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swire Properties Ltd. | Real Estate Management & Development | 4200 | 10676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Techtronic Industries Co. Ltd. | Household Durables | 6500 | 72537 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Bank of East Asia Ltd., A | Banks | 5000 | 6060 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Wharf Holdings Ltd. | Real Estate Management & Development | 5000 | 14702 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Energy Group Ltd. | Oil, Gas & Consumable Fuels | 36000 | 3552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vinda International Holdings Ltd. | Household Products | 1000 | 2947 |
| &nbsp;&nbsp; <sup>a</sup> Vitasoy International Holdings Ltd. | Food Products | 3500 | 7202 |
| &nbsp;&nbsp;&nbsp;&nbsp; VTech Holdings Ltd. | Communications Equipment | 800 | 5156 |
| &nbsp;&nbsp; <sup>b</sup> WH Group Ltd., 144A | Food Products | 38500 | 22395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co. Ltd. | Real Estate Management & Development | 7000 | 40807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xinyi Glass Holdings Ltd. | Auto Components | 9625 | 17931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yue Yuen Industrial Holdings Ltd. | Textiles, Apparel & Luxury Goods | 3500 | 4915 |
|  |  |  | 2300915 |
| &nbsp;&nbsp;&nbsp;&nbsp; **India 17.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M India Ltd. | Industrial Conglomerates | 14 | 3713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aarti Industries Ltd. | Chemicals | 931 | 6866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aarti Pharmalabs Ltd. | Pharmaceuticals | 266 | 1221 |
| &nbsp;&nbsp;&nbsp;&nbsp; ABB India Ltd. | Electrical Equipment | 210 | 6811 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACC Ltd. | Construction Materials | 364 | 10743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Enterprises Ltd. | Trading Companies & Distributors | 1309 | 61049 |
| &nbsp;&nbsp; <sup>a</sup> Adani Green Energy Ltd. | Independent Power Producers & Energy Traders | 1957 | 45697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Ports & Special Economic Zone Ltd. | Transportation Infrastructure | 3945 | 39011 |
| &nbsp;&nbsp; <sup>a</sup> Adani Power Ltd. | Independent Power Producers & Energy Traders | 4809 | 17413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Total Gas Ltd. | Gas Utilities | 1334 | 59546 |
| &nbsp;&nbsp; <sup>a</sup> Adani Transmission Ltd. | Electric Utilities | 1239 | 38778 |
| &nbsp;&nbsp; <sup>a</sup> Adani Wilmar Ltd. | Food Products | 770 | 5749 |
| &nbsp;&nbsp; <sup>a</sup> Aditya Birla Capital Ltd. | Diversified Financial Services | 2402 | 4361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alkem Laboratories Ltd. | Pharmaceuticals | 130 | 4722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ambuja Cements Ltd. | Construction Materials | 3420 | 21666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. | Health Care Providers & Services | 490 | 26520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashok Leyland Ltd. | Machinery | 7070 | 12255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asian Paints Ltd. | Chemicals | 2195 | 81928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astral Ltd. | Building Products | 438 | 10398 |
| &nbsp;&nbsp; <sup>b</sup> AU Small Finance Bank Ltd., 144A | Banks | 1568 | 12404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurobindo Pharma Ltd. | Pharmaceuticals | 1316 | 6972 |
| <sup>a,b</sup> Avenue Supermarts Ltd., 144A | Food & Staples Retailing | 704 | 34624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axis Bank Ltd. | Banks | 11102 | 125305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Auto Ltd. | Automobiles | 343 | 14992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Finance Ltd. | Consumer Finance | 1152 | 91558 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Finserv Ltd. | Diversified Financial Services | 1820 | 34052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Holdings & Investment Ltd. | Diversified Financial Services | 130 | 9022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balkrishna Industries Ltd. | Auto Components | 392 | 10099 |
| <sup>a,b</sup> Bandhan Bank Ltd., 144A | Banks | 3997 | 11315 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Bank of Baroda | Banks | 5166 | 11596.0 |
| Bank of India | Banks | 2401.0 | 2561.0 |
| Bata India Ltd. | Textiles, Apparel & Luxury Goods | 308.0 | 6140.0 |
| Bayer CropScience Ltd. | Chemicals | 60.0 | 3581.0 |
| Berger Paints India Ltd. | Chemicals | 1208.0 | 8489.0 |
| Bharat Electronics Ltd. | Aerospace & Defense | 16349.0 | 19742.0 |
| Bharat Forge Ltd. | Auto Components | 1239.0 | 13177.0 |
| Bharat Heavy Electricals Ltd. | Electrical Equipment | 4620.0 | 4423.0 |
| Bharat Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 4550.0 | 18177.0 |
| Bharti Airtel Ltd. | Wireless Telecommunication Services | 735.0 | 3852.0 |
| Bharti Airtel Ltd. | Wireless Telecommunication Services | 11389.0 | 110972.0 |
| Biocon Ltd. | Biotechnology | 2205.0 | 6979.0 |
| Bosch Ltd. | Auto Components | 42.0 | 8765.0 |
| Britannia Industries Ltd. | Food Products | 560.0 | 29157.0 |
| Canara Bank Ltd. | Banks | 1862.0 | 7502.0 |
| Castrol India Ltd. | Chemicals | 2464.0 | 3668.0 |
| <sup>a</sup> CG Power & Industrial Solutions Ltd. | Electrical Equipment | 3458.0 | 11298.0 |
| Cholamandalam Investment and Finance Co. Ltd. | Consumer Finance | 2016.0 | 17616.0 |
| Cipla Ltd. | Pharmaceuticals | 2534.0 | 32956.0 |
| Coal India Ltd. | Oil, Gas & Consumable Fuels | 9387.0 | 25535.0 |
| Coforge Ltd. | IT Services | 179.0 | 8404.0 |
| Colgate-Palmolive India Ltd. | Personal Products | 651.0 | 12089.0 |
| Container Corp. Of India Ltd. | Road & Rail | 1155.0 | 10314.0 |
| Coromandel International Ltd. | Chemicals | 553.0 | 5930.0 |
| Cummins India Ltd. | Machinery | 662.0 | 11046.0 |
| Dabur India Ltd. | Personal Products | 2874.0 | 19505.0 |
| Dalmia Bharat Ltd. | Construction Materials | 329.0 | 7408.0 |
| Deepak Nitrite Ltd. | Chemicals | 371.0 | 8903.0 |
| Divi's Laboratories Ltd. | Life Sciences Tools & Services | 592.0 | 24424.0 |
| Dixon Technologies India Ltd. | Household Durables | 179.0 | 8448.0 |
| DLF Ltd. | Real Estate Management & Development | 3010.0 | 13644.0 |
| <sup>b</sup> Dr Lal PathLabs Ltd., 144A | Health Care Providers & Services | 175.0 | 4782.0 |
| Dr Reddy's Laboratories Ltd. | Pharmaceuticals | 599.0 | 30682.0 |
| Eicher Motors Ltd. | Automobiles | 693.0 | 27038.0 |
| Emami Ltd. | Personal Products | 707.0 | 3632.0 |
| Embassy Office Parks REIT | Equity Real Estate Investment Trusts (REITs) | 2672.0 | 10854.0 |
| Exide Industries Ltd. | Auto Components | 2195.0 | 4782.0 |
| Federal Bank Ltd. | Banks | 6570.0 | 11043.0 |
| <sup>a</sup> FSN E-Commerce Ventures Ltd. | Internet & Catalog Retail | 1743.0 | 3262.0 |
| GAIL India Ltd. | Gas Utilities | 13330.0 | 15476.0 |
| <sup>b</sup> General Insurance Corp. of India, 144A | Insurance | 518.0 | 1119.0 |
| Gillette India Ltd. | Personal Products | 42.0 | 2555.0 |
| GlaxoSmithKline Pharmaceuticals Ltd. | Pharmaceuticals | 200.0 | 3188.0 |
| Glenmark Pharmaceuticals Ltd. | Pharmaceuticals | 707.0 | 3625.0 |
| <sup>a</sup> GMR Airports Infrastructure Ltd. | Construction & Engineering | 11897.0 | 5716.0 |
| <sup>a</sup> Godrej Consumer Products Ltd. | Personal Products | 1652.0 | 17454.0 |
| <sup>a</sup> Godrej Industries Ltd. | Chemicals | 420.0 | 2183.0 |
| <sup>a</sup> Godrej Properties Ltd. | Real Estate Management & Development | 441.0 | 6528.0 |
| Grasim Industries Ltd. | Construction Materials | 1911.0 | 39812.0 |
| Gujarat Fluorochemicals Ltd. | Chemicals | 172.0 | 6468.0 |
| Gujarat Gas Ltd. | Gas Utilities | 707.0 | 4155.0 |
| Havells India Ltd. | Electrical Equipment | 1204.0 | 16008.0 |
| HCL Technologies Ltd. | IT Services | 5408.0 | 67938.0 |
| <sup>b</sup> HDFC Asset Management Co. Ltd., 144A | Capital Markets | 280.0 | 7383.0 |
| <sup>b</sup> HDFC Life Insurance Co. Ltd., 144A | Insurance | 4830.0 | 33059.0 |
| Hero MotoCorp Ltd. | Automobiles | 595.0 | 19698.0 |
| Hindalco Industries Ltd. | Metals & Mining | 6962.0 | 39834.0 |
| Hindustan Aeronautics Ltd. | Aerospace & Defense | 413.0 | 12636.0 |
| Hindustan Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 3458.0 | 9829.0 |
| Hindustan Unilever Ltd. | Household Products | 4344.0 | 134476.0 |
| Hindustan Zinc Ltd. | Metals & Mining | 1208.0 | 4697.0 |
| Honeywell Automation India Ltd. | Electronic Equipment, Instruments & Components | 8.0 | 4033.0 |
| Housing Development Finance Corp. Ltd. | Thrifts & Mortgage Finance | 8484.0 | 270487.0 |
| ICICI Bank Ltd. | Banks | 7567.0 | 81483.0 |
| <sup>b</sup> ICICI Lombard General Insurance Co. Ltd., 144A | Insurance | 1187.0 | 17745.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>b</sup> ICICI Prudential Life Insurance Co. Ltd., 144A | Insurance | 1908 | 10408 |
| &nbsp;&nbsp; <sup>a</sup> IDFC First Bank Ltd. | Banks | 15687 | 11150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Hotels Co. Ltd. | Hotels, Restaurants & Leisure | 4078 | 15707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Oil Corp. Ltd. | Oil, Gas & Consumable Fuels | 20323 | 18793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Railway Catering & Tourism Corp. Ltd. | Commercial Services & Supplies | 1271 | 9828 |
| &nbsp;&nbsp; <sup>b</sup> Indian Railway Finance Corp. Ltd., 144A | Diversified Financial Services | 4620 | 1818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indraprastha Gas Ltd. | Gas Utilities | 1743 | 8721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indus Towers Ltd. | Diversified Telecommunication Services | 4361 | 10039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Info Edge India Ltd. | Interactive Media & Services | 375 | 17823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infosys Ltd. | IT Services | 17185 | 313289 |
| <sup>a,b</sup> InterGlobe Aviation Ltd., 144A | Airlines | 473 | 11479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ipca Laboratories Ltd. | Pharmaceuticals | 693 | 7062 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITC Ltd. | Tobacco | 14252 | 57117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jindal Steel & Power Ltd. | Metals & Mining | 1964 | 13783 |
| &nbsp;&nbsp;&nbsp;&nbsp; JSW Energy Ltd. | Independent Power Producers & Energy Traders | 1859 | 6463 |
| &nbsp;&nbsp;&nbsp;&nbsp; JSW Steel Ltd. | Metals & Mining | 4988 | 46308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jubilant Foodworks Ltd. | Hotels, Restaurants & Leisure | 1820 | 11243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kansai Nerolac Paints Ltd. | Chemicals | 676 | 3589 |
| &nbsp;&nbsp;&nbsp;&nbsp; L&T Finance Holdings Ltd. | Diversified Financial Services | 4498 | 4744 |
| &nbsp;&nbsp; <sup>b</sup> L&T Technology Services Ltd., 144A | Professional Services | 133 | 5922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Larsen & Toubro Ltd. | Construction & Engineering | 3339 | 84183 |
| &nbsp;&nbsp; <sup>b</sup> Laurus Labs Ltd., 144A | Pharmaceuticals | 1806 | 8192 |
| &nbsp;&nbsp;&nbsp;&nbsp; LIC Housing Finance Ltd. | Thrifts & Mortgage Finance | 1673 | 8375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde India Ltd. | Chemicals | 105 | 4359 |
| &nbsp;&nbsp; <sup>b</sup> LTIMindtree Ltd., 144A, Reg S | IT Services | 377 | 19893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lupin Ltd. | Pharmaceuticals | 1229 | 10900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macrotech Developers Ltd. | Real Estate Management & Development | 385 | 5077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra Financial Services Ltd. | Consumer Finance | 3031 | 8595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | Automobiles | 4445 | 67118 |
| &nbsp;&nbsp; <sup>a</sup> Mangalore Refinery & Petrochemicals Ltd. | Oil, Gas & Consumable Fuels | 781 | 530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marico Ltd. | Personal Products | 2615 | 16116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maruti Suzuki India Ltd. | Automobiles | 658 | 66767 |
| &nbsp;&nbsp; <sup>a</sup> Max Financial Services Ltd. | Insurance | 1225 | 10032 |
| &nbsp;&nbsp; <sup>a</sup> Max Healthcare Institute Ltd. | Health Care Providers & Services | 3609 | 19175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mphasis Ltd. | IT Services | 452 | 10779 |
| &nbsp;&nbsp;&nbsp;&nbsp; MRF Ltd. | Auto Components | 12 | 12842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muthoot Finance Ltd. | Consumer Finance | 539 | 6926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nestle India Ltd. | Food Products | 179 | 42421 |
| &nbsp;&nbsp;&nbsp;&nbsp; NHPC Ltd. | Independent Power Producers & Energy Traders | 11564 | 5556 |
| &nbsp;&nbsp; <sup>b</sup> Nippon Life India Asset Management Ltd., 144A | Capital Markets | 791 | 2382 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMDC Ltd. | Metals & Mining | 5726 | 8517 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMDC Steel Ltd. | Metals & Mining | 6544 | 2931 |
| &nbsp;&nbsp;&nbsp;&nbsp; NTPC Ltd. | Independent Power Producers & Energy Traders | 21826 | 43913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oberoi Realty Ltd. | Real Estate Management & Development | 420 | 4406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp. Ltd. | Oil, Gas & Consumable Fuels | 17346 | 30769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil India Ltd. | Oil, Gas & Consumable Fuels | 1712 | 4308 |
| &nbsp;&nbsp;&nbsp;&nbsp; One 97 Communications Ltd. | IT Services | 459 | 2946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Financial Services Software Ltd. | Software | 119 | 4349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Page Industries Ltd. | Textiles, Apparel & Luxury Goods | 29 | 15016 |
| &nbsp;&nbsp; <sup>a</sup> PB Fintech Ltd. | Insurance | 788 | 4270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Persistent Systems Ltd. | IT Services | 245 | 11463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Petronet LNG Ltd. | Oil, Gas & Consumable Fuels | 3805 | 9909 |
| &nbsp;&nbsp;&nbsp;&nbsp; PI Industries Ltd. | Chemicals | 364 | 15047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pidilite Industries Ltd. | Chemicals | 746 | 22995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piramal Enterprises Ltd. | Pharmaceuticals | 634 | 6348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polycab India Ltd. | Electrical Equipment | 133 | 4130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Finance Corp. Ltd. | Diversified Financial Services | 5985 | 10211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | Electric Utilities | 14889 | 38460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Punjab National Bank | Banks | 5611 | 3829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rajesh Exports Ltd. | Textiles, Apparel & Luxury Goods | 690 | 6103 |
| <sup>a,b</sup> RBL Bank Ltd., 144A | Banks | 2380 | 5161 |
| &nbsp;&nbsp;&nbsp;&nbsp; REC Ltd. | Diversified Financial Services | 6365 | 8963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Relaxo Footwears Ltd. | Textiles, Apparel & Luxury Goods | 368 | 4048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reliance Industries Ltd. | Oil, Gas & Consumable Fuels | 16261 | 500665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samvardhana Motherson International Ltd. | Auto Components | 8687 | 7786 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| SBI Cards & Payment Services Ltd. | Consumer Finance | 1453 | 13972 |
| <sup>b</sup> SBI Life Insurance Co. Ltd., 144A | Insurance | 2090 | 31106 |
| Schaeffler India Ltd. | Machinery | 200 | 6640 |
| Shree Cement Ltd. | Construction Materials | 67 | 18861 |
| Shriram Transport Finance Co. Ltd. | Consumer Finance | 1008 | 16776 |
| Siemens Ltd. | Industrial Conglomerates | 392 | 13392 |
| <sup>b</sup> Sona Blw Precision Forgings Ltd., 144A | Auto Components | 1288 | 6531 |
| SRF Ltd. | Chemicals | 690 | 19102 |
| <sup>a</sup> Star Health & Allied Insurance Co. Ltd. | Insurance | 410 | 2807 |
| State Bank of India | Banks | 8894 | 65977 |
| Steel Authority of India Ltd. | Metals & Mining | 7049 | 7042 |
| Sun Pharmaceutical Industries Ltd. | Pharmaceuticals | 5236 | 63379 |
| Sun TV Network Ltd. | Media | 501 | 2947 |
| Tata Communications Ltd. | Diversified Telecommunication Services | 448 | 6901 |
| Tata Consultancy Services Ltd. | IT Services | 4935 | 194268 |
| Tata Consumer Products Ltd. | Food Products | 3003 | 27839 |
| Tata Elxsi Ltd. | Software | 168 | 12765 |
| <sup>a</sup> Tata Motors Ltd. | Automobiles | 1792 | 4455 |
| <sup>a</sup> Tata Motors Ltd., A | Automobiles | 9167 | 42987 |
| Tata Steel Ltd. | Metals & Mining | 39151 | 53310 |
| <sup>a</sup> Tata Teleservices Maharashtra Ltd. | Diversified Telecommunication Services | 2555 | 2864 |
| Tech Mahindra Ltd. | IT Services | 2870 | 35260 |
| The Tata Power Co. Ltd. | Electric Utilities | 8141 | 20439 |
| Titan Co. Ltd. | Textiles, Apparel & Luxury Goods | 2002 | 62857 |
| Torrent Pharmaceuticals Ltd. | Pharmaceuticals | 469 | 8790 |
| Torrent Power Ltd. | Electric Utilities | 1040 | 6189 |
| Trent Ltd. | Multiline Retail | 910 | 14864 |
| Tube Investments of India Ltd. | Auto Components | 490 | 16439 |
| TVS Motor Co. Ltd. | Automobiles | 854 | 11204 |
| UltraTech Cement Ltd. | Construction Materials | 546 | 45928 |
| Union Bank of India Ltd. | Banks | 5621 | 5463 |
| United Breweries Ltd. | Beverages | 266 | 5465 |
| <sup>a</sup> United Spirits Ltd. | Beverages | 1288 | 13662 |
| UNO Minda Ltd. | Auto Components | 847 | 5336 |
| UPL Ltd. | Chemicals | 2625 | 22723 |
| Varun Beverages Ltd. | Beverages | 1008 | 16114 |
| Vedanta Ltd. | Metals & Mining | 6052 | 22561 |
| <sup>a</sup> Vodafone Idea Ltd. | Wireless Telecommunication Services | 20979 | 2003 |
| Voltas Ltd. | Construction & Engineering | 952 | 9204 |
| Whirlpool of India Ltd. | Household Durables | 158 | 2859 |
| Wipro Ltd. | IT Services | 6255 | 29695 |
| <sup>a</sup> Yes Bank Ltd. | Banks | 62339 | 15523 |
| Zee Entertainment Enterprises Ltd. | Media | 4053 | 11760 |
| <sup>a</sup> Zomato Ltd. | Internet & Catalog Retail | 20160 | 14451 |
| Zydus Lifesciences Ltd. | Pharmaceuticals | 1183 | 6005 |
|  |  |  | 4999513 |
| **Indonesia 2.2%** |  |  |  |
| Adaro Energy Indonesia Tbk PT, B | Oil, Gas & Consumable Fuels | 63400 | 15679 |
| Astra Agro Lestari Tbk PT, H | Food Products | 2500 | 1289 |
| Astra International Tbk PT, H | Automobiles | 95900 | 35114 |
| Avia Avian Tbk PT | Chemicals | 58500 | 2367 |
| Bank Central Asia Tbk PT, A | Banks | 270200 | 148400 |
| Bank Danamon Indonesia Tbk PT, H | Banks | 4200 | 737 |
| Bank Mandiri Persero Tbk PT, A | Banks | 100100 | 63818 |
| Bank Negara Indonesia Persero Tbk PT, H | Banks | 37100 | 21985 |
| Bank Rakyat Indonesia Persero Tbk PT, A | Banks | 330400 | 104845 |
| Bank Syariah Indonesia Tbk PT | Banks | 16487 | 1366 |
| Barito Pacific Tbk PT, A | Chemicals | 121308 | 5883 |
| Bukit Asam Tbk PT, A | Oil, Gas & Consumable Fuels | 20300 | 4812 |
| <sup>a</sup> Bumi Serpong Damai Tbk PT, A | Real Estate Management & Development | 44100 | 2606 |
| Charoen Pokphand Indonesia Tbk PT, A | Food Products | 36800 | 13356 |
| Dayamitra Telekomunikasi PT | Diversified Telecommunication Services | 116900 | 6007 |
| Elang Mahkota Teknologi Tbk PT | Media | 148800 | 9845 |
| First Pacific Co. Ltd. | Diversified Financial Services | 14000 | 4179 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gudang Garam Tbk PT | Tobacco | 2500 | 2891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hanjaya Mandala Sampoerna Tbk PT | Tobacco | 44500 | 2401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indah Kiat Pulp & Paper Tbk PT | Paper & Forest Products | 12600 | 7062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indocement Tunggal Prakarsa Tbk PT | Construction Materials | 9100 | 5787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indofood CBP Sukses Makmur Tbk PT | Food Products | 10900 | 7002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indofood Sukses Makmur Tbk PT | Food Products | 21400 | 9245 |
| &nbsp;&nbsp; <sup>a</sup> Jasa Marga Persero Tbk PT | Transportation Infrastructure | 11200 | 2144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kalbe Farma Tbk PT | Pharmaceuticals | 92400 | 12405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mayora Indah Tbk PT | Food Products | 19600 | 3148 |
| &nbsp;&nbsp; <sup>a</sup> Media Nusantara Citra Tbk PT | Media | 21700 | 1032 |
| &nbsp;&nbsp; <sup>a</sup> MNC Digital Entertainment Tbk PT | Entertainment | 8100 | 2508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perusahaan Gas Negara Tbk PT | Gas Utilities | 50100 | 5664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sarana Menara Nusantara Tbk PT | Diversified Telecommunication Services | 123900 | 8755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semen Indonesia Persero Tbk PT | Construction Materials | 16454 | 6949 |
| &nbsp;&nbsp; <sup>a</sup> Smartfren Telecom Tbk PT | Wireless Telecommunication Services | 508955 | 2158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumber Alfaria Trijaya Tbk PT | Food & Staples Retailing | 94500 | 16086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Surya Citra Media Tbk PT | Media | 140000 | 1853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telkom Indonesia Persero Tbk PT, B | Diversified Telecommunication Services | 230700 | 55572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tower Bersama Infrastructure Tbk PT | Diversified Telecommunication Services | 20300 | 2999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unilever Indonesia Tbk PT | Household Products | 27700 | 8363 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Tractors Tbk PT | Oil, Gas & Consumable Fuels | 7700 | 12897 |
| &nbsp;&nbsp; <sup>a</sup> Vale Indonesia Tbk PT | Metals & Mining | 10500 | 4789 |
| &nbsp;&nbsp;&nbsp;&nbsp; XL Axiata Tbk PT | Wireless Telecommunication Services | 18900 | 2598 |
|  |  |  | 626596 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Italy 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PRADA SpA | Textiles, Apparel & Luxury Goods | 2100 | 11865 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Luxembourg 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; L'Occitane International SA | Specialty Retail | 2250 | 7019 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Macau 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy Entertainment Group Ltd. | Hotels, Restaurants & Leisure | 10000 | 66112 |
| &nbsp;&nbsp; <sup>a</sup> MGM China Holdings Ltd. | Hotels, Restaurants & Leisure | 4400 | 4848 |
| &nbsp;&nbsp; <sup>a</sup> Sands China Ltd. | Hotels, Restaurants & Leisure | 11200 | 37166 |
| &nbsp;&nbsp; <sup>a</sup> SJM Holdings Ltd. | Hotels, Restaurants & Leisure | 11500 | 6660 |
| &nbsp;&nbsp; <sup>a</sup> Wynn Macau Ltd. | Hotels, Restaurants & Leisure | 7600 | 8472 |
|  |  |  | 123258 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Malaysia 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alliance Bank Malaysia Bhd, A | Banks | 6000 | 4999 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMMB Holdings Bhd | Beverages | 10500 | 9868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astro Malaysia Holdings Bhd, A | Media | 6000 | 885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axiata Group Bhd, A | Wireless Telecommunication Services | 22800 | 15994 |
| &nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco Malaysia Bhd, A | Tobacco | 700 | 1783 |
| &nbsp;&nbsp;&nbsp;&nbsp; CIMB Group Holdings Bhd, A | Banks | 31200 | 41081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dialog Group Bhd, A | Energy Equipment & Services | 20300 | 11291 |
| &nbsp;&nbsp;&nbsp;&nbsp; DiGi.Com Bhd | Wireless Telecommunication Services | 13300 | 12077 |
| &nbsp;&nbsp;&nbsp;&nbsp; FGV Holdings Bhd | Food Products | 3200 | 959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fraser & Neave Holdings Bhd | Beverages | 600 | 2939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gamuda Bhd | Construction & Engineering | 10900 | 9279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genting Bhd | Hotels, Restaurants & Leisure | 11200 | 11391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genting Malaysia Bhd | Hotels, Restaurants & Leisure | 14000 | 8549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartalega Holdings Bhd | Health Care Equipment & Supplies | 7900 | 3049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Leong Bank Bhd | Banks | 3200 | 14936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Leong Financial Group Bhd | Banks | 1100 | 4645 |
| &nbsp;&nbsp;&nbsp;&nbsp; IHH Healthcare Bhd | Health Care Providers & Services | 10200 | 14403 |
| &nbsp;&nbsp;&nbsp;&nbsp; IJM Corp. Bhd | Construction & Engineering | 15400 | 5594 |
| &nbsp;&nbsp;&nbsp;&nbsp; IOI Corp. Bhd | Food Products | 13300 | 12228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kuala Lumpur Kepong Bhd | Food Products | 2100 | 10660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Malayan Banking Bhd | Banks | 34300 | 67743 |
| &nbsp;&nbsp; <sup>a</sup> Malaysia Airports Holdings Bhd | Transportation Infrastructure | 4550 | 6776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maxis Bhd | Wireless Telecommunication Services | 10200 | 8892 |
| &nbsp;&nbsp;&nbsp;&nbsp; MISC Bhd | Marine | 8800 | 14983 |
| &nbsp;&nbsp; <sup>b</sup> MR DIY Group M Bhd, 144A | Specialty Retail | 11100 | 5040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nestle Malaysia Bhd | Food Products | 270 | 8581 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Petronas Chemicals Group Bhd | Chemicals | 14000 | 27332 |
| Petronas Dagangan Bhd | Oil, Gas & Consumable Fuels | 1400 | 7310 |
| Petronas Gas Bhd | Gas Utilities | 2900 | 11271 |
| PPB Group Bhd | Food Products | 2800 | 11086 |
| Press Metal Aluminium Holdings Bhd | Metals & Mining | 17500 | 19387 |
| Public Bank Bhd | Banks | 68600 | 67276 |
| QL Resources Bhd | Food Products | 5700 | 7130 |
| RHB Bank Bhd | Banks | 8100 | 10647 |
| Sime Darby Bhd | Industrial Conglomerates | 17700 | 9242 |
| Sime Darby Plantation Bhd | Food Products | 17900 | 18895 |
| Telekom Malaysia Bhd | Diversified Telecommunication Services | 4200 | 5149 |
| Tenaga Nasional Bhd | Electric Utilities | 14700 | 32136 |
| Top Glove Corp. Bhd | Health Care Equipment & Supplies | 26300 | 5403 |
| Westports Holdings Bhd | Transportation Infrastructure | 3500 | 3019 |
| YTL Corp. Bhd | Multi-Utilities | 20713 | 2727 |
|  |  |  | 546635 |
| **Pakistan 0.0%<sup>†</sup>** |  |  |  |
| Fauji Fertilizer Co. Ltd. | Chemicals | 3500 | 1526 |
| Habib Bank Ltd. | Banks | 3500 | 985 |
| Oil & Gas Development Co. Ltd. | Oil, Gas & Consumable Fuels | 3500 | 1232 |
| Pakistan Petroleum Ltd. | Oil, Gas & Consumable Fuels | 3507 | 1056 |
|  |  |  | 4799 |
| **Philippines 0.8%** |  |  |  |
| Aboitiz Power Corp., A | Independent Power Producers & Energy Traders | 8100 | 4949 |
| ACEN Corp. | Independent Power Producers & Energy Traders | 32940 | 4504 |
| Alliance Global Group Inc., A | Industrial Conglomerates | 19300 | 4121 |
| Ayala Corp., A | Diversified Financial Services | 1400 | 17460 |
| Ayala Land Inc., A | Real Estate Management & Development | 35700 | 19731 |
| Bank of the Philippine Islands, A | Banks | 8890 | 16272 |
| BDO Unibank Inc., A | Banks | 11844 | 22465 |
| <sup>a</sup> Bloomberry Resorts Corp., H | Hotels, Restaurants & Leisure | 15100 | 2073 |
| <sup>a</sup> Converge Information and Communications |  |  |  |
| Technology Solutions Inc. | Diversified Telecommunication Services | 10200 | 2907 |
| DMCI Holdings Inc., A | Industrial Conglomerates | 17900 | 3854 |
| <sup>a</sup> Emperador Inc. | Beverages | 11900 | 4399 |
| Globe Telecom Inc. | Wireless Telecommunication Services | 152 | 5946 |
| GT Capital Holdings Inc. | Diversified Financial Services | 530 | 4137 |
| International Container Terminal Services Inc. | Transportation Infrastructure | 4970 | 17837 |
| JG Summit Holdings Inc. | Industrial Conglomerates | 15060 | 13593 |
| Jollibee Foods Corp. | Hotels, Restaurants & Leisure | 2140 | 8832 |
| LT Group Inc. | Industrial Conglomerates | 15800 | 2608 |
| Manila Electric Co. | Electric Utilities | 1330 | 7131 |
| Megaworld Corp. | Real Estate Management & Development | 63000 | 2261 |
| Metro Pacific Investments Corp. | Diversified Financial Services | 35000 | 2148 |
| Metropolitan Bank & Trust Co. | Banks | 8980 | 8702 |
| <sup>b</sup> Monde Nissin Corp., 144A | Food Products | 36400 | 7237 |
| PLDT Inc. | Wireless Telecommunication Services | 385 | 9099 |
| Puregold Price Club Inc. | Food & Staples Retailing | 5360 | 3357 |
| San Miguel Corp. | Industrial Conglomerates | 1910 | 3186 |
| Semirara Mining & Power Corp. | Oil, Gas & Consumable Fuels | 5600 | 3467 |
| SM Prime Holdings Inc. | Real Estate Management & Development | 52500 | 33444 |
| Universal Robina Corp. | Food Products | 3640 | 8883 |
|  |  |  | 244603 |
| **Singapore 3.7%** |  |  |  |
| <sup>b</sup> BOC Aviation Ltd., A, 144A | Trading Companies & Distributors | 1100 | 9182 |
| CapitaLand Ascendas REIT, A | Equity Real Estate Investment Trusts (REITs) | 16100 | 32892 |
| CapitaLand Ascott Trust, A | Equity Real Estate Investment Trusts (REITs) | 9100 | 7124 |
| CapitaLand Integrated Commercial Trust, A | Equity Real Estate Investment Trusts (REITs) | 23800 | 36200 |
| Capitaland Investment Ltd. | Real Estate Management & Development | 12600 | 34760 |
| City Developments Ltd., H | Real Estate Management & Development | 2100 | 12886 |
| ComfortDelGro Corp. Ltd., H | Road & Rail | 10200 | 9354 |
| DBS Group Holdings Ltd., A | Banks | 8800 | 222559 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Frasers Logistics & Commercial Trust | Equity Real Estate Investment Trusts (REITs) | 14000 | 12109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genting Singapore Ltd. | Hotels, Restaurants & Leisure | 28700 | 20436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jardine Cycle & Carriage Ltd. | Distributors | 400 | 8530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keppel Corp. Ltd. | Industrial Conglomerates | 6300 | 34102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keppel DC REIT | Equity Real Estate Investment Trusts (REITs) | 6300 | 8314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keppel REIT | Equity Real Estate Investment Trusts (REITs) | 8400 | 5699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mapletree Industrial Trust | Equity Real Estate Investment Trusts (REITs) | 9500 | 15725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mapletree Logistics Trust | Equity Real Estate Investment Trusts (REITs) | 16100 | 19087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mapletree Pan Asia Commercial Trust | Equity Real Estate Investment Trusts (REITs) | 10900 | 13572 |
| &nbsp;&nbsp;&nbsp;&nbsp; NETLINK NBN TRUST | Diversified Telecommunication Services | 14000 | 8664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Olam Group Ltd. | Food & Staples Retailing | 4000 | 4354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp. Ltd. | Banks | 17200 | 156200 |
| &nbsp;&nbsp; <sup>a</sup> SATS Ltd. | Transportation Infrastructure | 3300 | 6988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sembcorp Industries Ltd. | Industrial Conglomerates | 4600 | 11593 |
| &nbsp;&nbsp; <sup>a</sup> Sembcorp Marine Ltd. | Machinery | 58800 | 6050 |
| &nbsp;&nbsp; <sup>a</sup> SIA Engineering Co. Ltd. | Transportation Infrastructure | 1100 | 1919 |
| &nbsp;&nbsp; <sup>a</sup> Singapore Airlines Ltd. | Airlines | 6300 | 25976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Exchange Ltd. | Capital Markets | 3850 | 25692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Post Ltd. | Air Freight & Logistics | 7700 | 2985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Technologies Engineering Ltd. | Aerospace & Defense | 7600 | 18983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. | Diversified Telecommunication Services | 36400 | 69750 |
| &nbsp;&nbsp;&nbsp;&nbsp; StarHub Ltd. | Wireless Telecommunication Services | 2800 | 2171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suntec Real Estate Investment Trust | Equity Real Estate Investment Trusts (REITs) | 10500 | 10804 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Overseas Bank Ltd. | Banks | 6200 | 141918 |
| &nbsp;&nbsp;&nbsp;&nbsp; UOL Group Ltd. | Real Estate Management & Development | 2100 | 10522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Venture Corp. Ltd. | Electronic Equipment, Instruments & Components | 1313 | 16701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wilmar International Ltd. | Food Products | 10500 | 32646 |
| &nbsp;&nbsp; <sup>a</sup> Yangzijiang Financial Holding Ltd. | Capital Markets | 12600 | 3335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yanlord Land Group Ltd. | Real Estate Management & Development | 2800 | 2129 |
|  |  |  | 1061911 |
| &nbsp;&nbsp;&nbsp;&nbsp; **South Korea 11.9%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alteogen Inc., A | Biotechnology | 168 | 5082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amorepacific Corp., H | Personal Products | 144 | 15658 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMOREPACIFIC Group, A | Personal Products | 147 | 4057 |
| &nbsp;&nbsp;&nbsp;&nbsp; BGF retail Co. Ltd. | Food & Staples Retailing | 32 | 5327 |
| &nbsp;&nbsp;&nbsp;&nbsp; BNK Financial Group Inc., H | Banks | 1481 | 7613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Celltrion Healthcare Co. Ltd., A | Health Care Providers & Services | 491 | 22521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Celltrion Inc., A | Biotechnology | 535 | 67906 |
| &nbsp;&nbsp; <sup>a</sup> Celltrion Pharm Inc., A | Pharmaceuticals | 100 | 5291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheil Worldwide Inc., A | Media | 357 | 6508 |
| &nbsp;&nbsp;&nbsp;&nbsp; CJ CheilJedang Corp., A | Food Products | 39 | 11735 |
| &nbsp;&nbsp;&nbsp;&nbsp; CJ Corp., A | Industrial Conglomerates | 60 | 3991 |
| &nbsp;&nbsp;&nbsp;&nbsp; CJ ENM Co. Ltd., A | Internet & Catalog Retail | 55 | 4554 |
| &nbsp;&nbsp; <sup>a</sup> CJ Logistics Corp., A | Road & Rail | 42 | 3112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coway Co. Ltd. | Household Durables | 280 | 12378 |
| &nbsp;&nbsp; <sup>a</sup> Daewoo Engineering & Construction Co. Ltd., A | Construction & Engineering | 854 | 2823 |
| &nbsp;&nbsp; <sup>a</sup> Daewoo Shipbuilding & Marine Engineering Co. |  |  |  |
| Ltd., A | Machinery | 245 | 3672 |
| &nbsp;&nbsp;&nbsp;&nbsp; DB Insurance Co. Ltd., A | Insurance | 217 | 11206 |
| &nbsp;&nbsp;&nbsp;&nbsp; DGB Financial Group Inc., A | Banks | 781 | 4317 |
| &nbsp;&nbsp;&nbsp;&nbsp; DL E&C Co. Ltd., A | Construction & Engineering | 154 | 4110 |
| &nbsp;&nbsp;&nbsp;&nbsp; DL Holdings Co. Ltd., A | Construction & Engineering | 63 | 2949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dongsuh Companies Inc., A | Food & Staples Retailing | 154 | 2460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Doosan Bobcat Inc., A | Machinery | 109 | 2983 |
| &nbsp;&nbsp; <sup>a</sup> Doosan Enerbility Co. Ltd., H | Electrical Equipment | 1936 | 23578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecopro BM Co. Ltd. | Electrical Equipment | 196 | 14276 |
| &nbsp;&nbsp; <sup>a</sup> E-MART Inc., A | Food & Staples Retailing | 102 | 7905 |
| &nbsp;&nbsp;&nbsp;&nbsp; F&F Co. Ltd. / New | Textiles, Apparel & Luxury Goods | 79 | 9028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fila Holdings Corp. | Textiles, Apparel & Luxury Goods | 245 | 6442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Green Cross Corp. | Biotechnology | 28 | 2868 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Engineering & Construction Corp. | Construction & Engineering | 308 | 5152 |
| &nbsp;&nbsp; <sup>a</sup> GS Holdings Corp. | Oil, Gas & Consumable Fuels | 252 | 8729 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Retail Co. Ltd. | Food & Staples Retailing | 189 | 4207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hana Financial Group Inc. | Banks | 1372 | 45625 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| <sup>a</sup> Hanjin Kal Corp. | Airlines | 111 | 3287 |
| Hankook Tire & Technology Co. Ltd. | Auto Components | 364 | 8967 |
| Hanmi Pharm Co. Ltd. | Pharmaceuticals | 28 | 6599 |
| Hanmi Science Co. Ltd. | Pharmaceuticals | 79 | 2027 |
| Hanon Systems | Auto Components | 837 | 5355 |
| Hanssem Co. Ltd. | Household Durables | 53 | 1869 |
| Hanwha Aerospace Co. Ltd. | Aerospace & Defense | 168 | 9778 |
| Hanwha Corp. | Industrial Conglomerates | 200 | 4057 |
| Hanwha Corp. | Industrial Conglomerates | 88 | 964 |
| <sup>a</sup> Hanwha Life Insurance Co. Ltd. | Insurance | 1439 | 3152 |
| <sup>a</sup> Hanwha Solutions Corp. | Chemicals | 560 | 19043 |
| HD Hyundai Co. Ltd. | Machinery | 245 | 11063 |
| Hite Jinro Co. Ltd. | Beverages | 154 | 3112 |
| HL Mando Co. Ltd. | Auto Components | 112 | 3569 |
| <sup>a</sup> HLB Inc. | Leisure Products | 423 | 9500 |
| HMM Co. Ltd. | Marine | 1428 | 22078 |
| Hotel Shilla Co. Ltd. | Specialty Retail | 158 | 10383 |
| <sup>a</sup> HYBE Co. Ltd. | Entertainment | 91 | 12486 |
| Hyundai Department Store Co. Ltd. | Multiline Retail | 74 | 3453 |
| <sup>a</sup> Hyundai Doosan Infracore Co. Ltd. | Machinery | 648 | 4100 |
| Hyundai Engineering & Construction Co. Ltd. | Construction & Engineering | 357 | 9853 |
| Hyundai Glovis Co. Ltd. | Air Freight & Logistics | 91 | 11766 |
| <sup>a</sup> Hyundai Heavy Industries Co. Ltd. | Machinery | 70 | 6422 |
| Hyundai Marine & Fire Insurance Co. Ltd. | Insurance | 306 | 7127 |
| <sup>a</sup> Hyundai Mipo Dockyard Co. Ltd. | Machinery | 103 | 6883 |
| Hyundai Mobis Co. Ltd. | Auto Components | 287 | 45507 |
| Hyundai Motor Co. | Automobiles | 672 | 80247 |
| Hyundai Steel Co. | Metals & Mining | 371 | 8978 |
| Hyundai Wia Corp. | Auto Components | 84 | 3285 |
| Iljin Materials Co. Ltd. | Electronic Equipment, Instruments & Components | 88 | 3612 |
| <sup>a</sup> Industrial Bank of Korea | Banks | 1274 | 9894 |
| <sup>a</sup> Kakao Corp. | Interactive Media & Services | 1498 | 62905 |
| <sup>a</sup> Kakao Games Corp. | Entertainment | 137 | 4838 |
| <sup>a</sup> KakaoBank Corp. | Banks | 767 | 14739 |
| <sup>a</sup> Kakaopay Corp. | IT Services | 105 | 4501 |
| <sup>a</sup> Kangwon Land Inc. | Hotels, Restaurants & Leisure | 427 | 7834 |
| KB Financial Group Inc. | Banks | 1869 | 71686 |
| KCC Corp. | Building Products | 22 | 3558 |
| KEPCO Plant Service & Engineering Co. Ltd. | Commercial Services & Supplies | 116 | 3046 |
| Kia Corp. | Automobiles | 1232 | 57776 |
| Korea Aerospace Industries Ltd. | Aerospace & Defense | 350 | 14089 |
| <sup>a</sup> Korea Electric Power Corp. | Electric Utilities | 1253 | 21602 |
| Korea Gas Corp. | Gas Utilities | 133 | 3808 |
| Korea Investment Holdings Co. Ltd. | Capital Markets | 182 | 7671 |
| <sup>a</sup> Korea Shipbuilding & Offshore Engineering Co. | <sup>a</sup> Korea Shipbuilding & Offshore Engineering Co. |  |  |
| Ltd. | Machinery | 214 | 11965 |
| Korea Zinc Co. Ltd. | Metals & Mining | 42 | 18733 |
| <sup>a</sup> Korean Air Lines Co. Ltd. | Airlines | 875 | 15881 |
| <sup>a</sup> Krafton Inc. | Entertainment | 133 | 17670 |
| KT&G Corp. | Tobacco | 529 | 38279 |
| Kumho Petrochemical Co. Ltd. | Chemicals | 84 | 8370 |
| <sup>a</sup> L&F Co. Ltd. | Electronic Equipment, Instruments & Components | 109 | 14956 |
| LG Chem Ltd. | Chemicals | 226 | 107236 |
| LG Corp. | Industrial Conglomerates | 434 | 26805 |
| LG Display Co. Ltd. | Electronic Equipment, Instruments & Components | 1106 | 10889 |
| LG Electronics Inc. | Household Durables | 532 | 36392 |
| <sup>a</sup> LG Energy Solution Ltd. | Electrical Equipment | 161 | 55449 |
| LG H&H Co. Ltd. | Personal Products | 40 | 22839 |
| LG Innotek Co. Ltd. | Electronic Equipment, Instruments & Components | 70 | 13978 |
| LG Uplus Corp. | Diversified Telecommunication Services | 1054 | 9211 |
| Lotte Chemical Corp. | Chemicals | 74 | 10446 |
| Lotte Chilsung Beverage Co. Ltd. | Beverages | 18 | 2505 |
| Lotte Corp. | Industrial Conglomerates | 133 | 3240 |
| LOTTE Fine Chemical Co. Ltd. | Chemicals | 84 | 3767 |
| Lotte Shopping Co. Ltd. | Multiline Retail | 56 | 4030 |

---

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---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LS Corp. | Electrical Equipment | 81 | 4465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meritz Financial Group Inc. | Diversified Financial Services | 137 | 4626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mirae Asset Securities Co. Ltd. | Capital Markets | 1309 | 6294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mirae Asset Securities Co. Ltd. | Capital Markets | 721 | 2041 |
| &nbsp;&nbsp;&nbsp;&nbsp; NAVER Corp. | Interactive Media & Services | 693 | 97278 |
| &nbsp;&nbsp;&nbsp;&nbsp; NCSoft Corp. | Entertainment | 73 | 25863 |
| &nbsp;&nbsp; <sup>b</sup> Netmarble Corp., 144A | Software | 88 | 4203 |
| &nbsp;&nbsp;&nbsp;&nbsp; NH Investment & Securities Co. Ltd. | Capital Markets | 648 | 4494 |
| &nbsp;&nbsp; <sup>a</sup> NHN Corp. | Software | 77 | 1516 |
| &nbsp;&nbsp;&nbsp;&nbsp; NongShim Co. Ltd. | Food Products | 18 | 5082 |
| &nbsp;&nbsp; <sup>a</sup> OCI Co. Ltd. | Chemicals | 88 | 5623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orion Corp/Republic of Korea | Food Products | 84 | 8503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ottogi Corp. | Food Products | 7 | 2635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pan Ocean Co. Ltd. | Marine | 991 | 4491 |
| &nbsp;&nbsp; <sup>a</sup> Paradise Co. Ltd. | Hotels, Restaurants & Leisure | 238 | 3313 |
| &nbsp;&nbsp; <sup>a</sup> Pearl Abyss Corp. | Entertainment | 151 | 5009 |
| &nbsp;&nbsp;&nbsp;&nbsp; POSCO Chemical Co. Ltd. | Construction Materials | 133 | 18932 |
| &nbsp;&nbsp;&nbsp;&nbsp; POSCO Holdings Inc. | Metals & Mining | 357 | 78063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Posco International Corp. | Trading Companies & Distributors | 259 | 4629 |
| &nbsp;&nbsp;&nbsp;&nbsp; S-1 Corp. | Commercial Services & Supplies | 88 | 4127 |
| <sup>a,b</sup> Samsung Biologics Co. Ltd., 144A | Life Sciences Tools & Services | 87 | 56486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung C&T Corp. | Industrial Conglomerates | 392 | 35185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Card Co. Ltd. | Consumer Finance | 154 | 3599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Electro-Mechanics Co. Ltd. | Electronic Equipment, Instruments & Components | 277 | 28587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 22883 | 1000735 |
| &nbsp;&nbsp; <sup>a</sup> Samsung Engineering Co. Ltd. | Construction & Engineering | 665 | 11701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Fire & Marine Insurance Co. Ltd. | Insurance | 165 | 26097 |
| &nbsp;&nbsp; <sup>a</sup> Samsung Heavy Industries Co. Ltd. | Machinery | 2995 | 12103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Life Insurance Co. Ltd. | Insurance | 322 | 18080 |
| &nbsp;&nbsp; <sup>a</sup> Samsung SDI Co. Ltd. | Electronic Equipment, Instruments & Components | 253 | 118247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung SDS Co. Ltd. | IT Services | 179 | 17412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samsung Securities Co. Ltd. | Capital Markets | 322 | 8009 |
| &nbsp;&nbsp;&nbsp;&nbsp; SD Biosensor Inc. | Health Care Equipment & Supplies | 172 | 4101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seegene Inc. | Biotechnology | 147 | 3162 |
| &nbsp;&nbsp; <sup>a</sup> Shin Poong Pharmaceutical Co. Ltd. | Pharmaceuticals | 172 | 2877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | Banks | 2401 | 66837 |
| &nbsp;&nbsp; <sup>a</sup> Shinsegae Inc. | Multiline Retail | 35 | 6089 |
| &nbsp;&nbsp; <sup>a</sup> SK Biopharmaceuticals Co. Ltd. | Pharmaceuticals | 126 | 7184 |
| &nbsp;&nbsp; <sup>a</sup> SK Bioscience Co. Ltd. | Biotechnology | 98 | 5696 |
| &nbsp;&nbsp;&nbsp;&nbsp; SK Chemicals Co. Ltd. | Chemicals | 35 | 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp; SK Hynix Inc. | Semiconductors & Semiconductor Equipment | 2604 | 154448 |
| <sup>a,b</sup> SK IE Technology Co. Ltd., 144A | Chemicals | 130 | 5449 |
| &nbsp;&nbsp;&nbsp;&nbsp; SK Inc. | Industrial Conglomerates | 175 | 26157 |
| &nbsp;&nbsp; <sup>a</sup> SK Innovation Co. Ltd. | Oil, Gas & Consumable Fuels | 256 | 31178 |
| &nbsp;&nbsp;&nbsp;&nbsp; SK Networks Co. Ltd. | Trading Companies & Distributors | 728 | 2228 |
| &nbsp;&nbsp; <sup>a</sup> SK Square Co. Ltd. | Semiconductors & Semiconductor Equipment | 420 | 11144 |
| &nbsp;&nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd. | Wireless Telecommunication Services | 112 | 4198 |
| &nbsp;&nbsp;&nbsp;&nbsp; SKC Co. Ltd. | Chemicals | 95 | 6649 |
| &nbsp;&nbsp;&nbsp;&nbsp; S-Oil Corp. | Oil, Gas & Consumable Fuels | 203 | 13389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solus Advanced Materials Co. Ltd. | Electronic Equipment, Instruments & Components | 72 | 1708 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSANGYONG C&E Co. Ltd. | Construction Materials | 574 | 2615 |
| &nbsp;&nbsp; <sup>a</sup> Wemade Co. Ltd. | Entertainment | 84 | 2096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Woori Financial Group Inc. | Banks | 3140 | 28681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yuhan Corp. | Pharmaceuticals | 257 | 11625 |
|  |  |  | 3414138 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Taiwan 15.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accton Technology Corp. | Communications Equipment | 2630 | 20066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acer Inc., H | Technology Hardware, Storage & Peripherals | 14000 | 10727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Solution Holding Co. Ltd. | Electrical Equipment | 110 | 2301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advantech Co. Ltd. | Technology Hardware, Storage & Peripherals | 1750 | 18846 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd., A | Semiconductors & Semiconductor Equipment | 16700 | 51020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia Cement Corp. | Construction Materials | 11000 | 14674 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASMedia Technology Inc. | Semiconductors & Semiconductor Equipment | 180 | 3924 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASPEED Technology Inc. | Semiconductors & Semiconductor Equipment | 156 | 8552 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Asustek Computer Inc. | Technology Hardware, Storage & Peripherals | 3500 | 30575.0 |
| &nbsp;&nbsp;&nbsp; AUO Corp., H | Electronic Equipment, Instruments & Components | 35000.0 | 17081.0 |
| &nbsp;&nbsp;&nbsp; Capital Securities Corp., A | Capital Markets | 11000.0 | 3883.0 |
| &nbsp;&nbsp;&nbsp; Catcher Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 3000.0 | 16496.0 |
| &nbsp;&nbsp;&nbsp; Cathay Financial Holding Co. Ltd., A | Insurance | 43001.0 | 55963.0 |
| &nbsp;&nbsp;&nbsp; Chailease Holding Co. Ltd., A | Diversified Financial Services | 6650.0 | 46951.0 |
| &nbsp;&nbsp;&nbsp; Chang Hwa Commercial Bank Ltd., A | Banks | 33673.0 | 18789.0 |
| &nbsp;&nbsp;&nbsp; Cheng Shin Rubber Industry Co. Ltd., A | Auto Components | 8800.0 | 9706.0 |
| &nbsp;&nbsp;&nbsp; Chicony Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 2630.0 | 7385.0 |
| &nbsp;&nbsp;&nbsp; China Airlines Ltd., A | Airlines | 14000.0 | 8655.0 |
| &nbsp;&nbsp;&nbsp; China Development Financial Holding Corp., A | Banks | 70000.0 | 28696.0 |
| &nbsp;&nbsp;&nbsp; China Motor Corp., A | Automobiles | 930.0 | 1558.0 |
| &nbsp;&nbsp;&nbsp; China Steel Corp., A | Metals & Mining | 59000.0 | 57204.0 |
| &nbsp;&nbsp;&nbsp; Chunghwa Telecom Co. Ltd. | Diversified Telecommunication Services | 18380.0 | 67575.0 |
| &nbsp;&nbsp;&nbsp; Compal Electronics Inc., H | Technology Hardware, Storage & Peripherals | 21000.0 | 15749.0 |
| &nbsp;&nbsp;&nbsp; CTBC Financial Holding Co. Ltd., A | Banks | 91000.0 | 65432.0 |
| &nbsp;&nbsp;&nbsp; Delta Electronics Inc., A | Electronic Equipment, Instruments & Components | 10500.0 | 97875.0 |
| &nbsp;&nbsp;&nbsp; E Ink Holdings Inc. | Electronic Equipment, Instruments & Components | 4400.0 | 23048.0 |
| &nbsp;&nbsp;&nbsp; E.Sun Financial Holding Co. Ltd., A | Banks | 65000.0 | 50861.0 |
| &nbsp;&nbsp;&nbsp; Eclat Textile Co. Ltd., A | Textiles, Apparel & Luxury Goods | 840.0 | 13542.0 |
| &nbsp;&nbsp;&nbsp; eMemory Technology Inc. | Semiconductors & Semiconductor Equipment | 350.0 | 15202.0 |
| &nbsp;&nbsp;&nbsp; Ennostar Inc., H | Semiconductors & Semiconductor Equipment | 2920.0 | 4251.0 |
| &nbsp;&nbsp;&nbsp; Eternal Materials Co. Ltd., H | Chemicals | 5000.0 | 5084.0 |
| &nbsp;&nbsp;&nbsp; Eva Airways Corp., H | Airlines | 10000.0 | 9159.0 |
| &nbsp;&nbsp;&nbsp; Evergreen Marine Corp. Taiwan Ltd. | Marine | 5250.0 | 27842.0 |
| &nbsp;&nbsp;&nbsp; Far Eastern International Bank | Banks | 12770.0 | 4570.0 |
| &nbsp;&nbsp;&nbsp; Far Eastern New Century Corp. | Industrial Conglomerates | 19250.0 | 19979.0 |
| &nbsp;&nbsp;&nbsp; Far EasTone Telecommunications Co. Ltd. | Wireless Telecommunication Services | 8000.0 | 17153.0 |
| &nbsp;&nbsp;&nbsp; Feng TAY Enterprise Co. Ltd. | Textiles, Apparel & Luxury Goods | 2310.0 | 15520.0 |
| &nbsp;&nbsp;&nbsp; First Financial Holding Co. Ltd. | Banks | 49000.0 | 42248.0 |
| <sup>a,b</sup> FIT Hon Teng Ltd., 144A | Electronic Equipment, Instruments & Components | 7000.0 | 1839.0 |
| &nbsp;&nbsp;&nbsp; Formosa Chemicals & Fibre Corp. | Chemicals | 16700.0 | 38306.0 |
| &nbsp;&nbsp;&nbsp; Formosa Petrochemical Corp. | Oil, Gas & Consumable Fuels | 6130.0 | 16015.0 |
| &nbsp;&nbsp;&nbsp; Formosa Plastics Corp. | Chemicals | 18380.0 | 51907.0 |
| &nbsp;&nbsp;&nbsp; Formosa Sumco Technology Corp. | Semiconductors & Semiconductor Equipment | 350.0 | 1549.0 |
| &nbsp;&nbsp;&nbsp; Formosa Taffeta Co. Ltd. | Textiles, Apparel & Luxury Goods | 3000.0 | 2611.0 |
| &nbsp;&nbsp;&nbsp; Foxconn Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 5250.0 | 8865.0 |
| &nbsp;&nbsp;&nbsp; Fubon Financial Holding Co. Ltd. | Insurance | 35000.0 | 64112.0 |
| &nbsp;&nbsp;&nbsp; Genius Electronic Optical Co. Ltd. | Electronic Equipment, Instruments & Components | 460.0 | 5021.0 |
| &nbsp;&nbsp;&nbsp; Giant Manufacturing Co. Ltd. | Leisure Products | 1572.0 | 10255.0 |
| &nbsp;&nbsp;&nbsp; Globalwafers Co. Ltd. | Semiconductors & Semiconductor Equipment | 1050.0 | 14604.0 |
| &nbsp;&nbsp;&nbsp; Hiwin Technologies Corp. | Machinery | 1485.0 | 8818.0 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co. Ltd. | Electronic Equipment, Instruments & Components | 58000.0 | 188518.0 |
| &nbsp;&nbsp;&nbsp; Hotai Motor Co. Ltd. | Specialty Retail | 1580.0 | 30227.0 |
| &nbsp;&nbsp; <sup>a</sup> HTC Corp. | Technology Hardware, Storage & Peripherals | 3500.0 | 6343.0 |
| &nbsp;&nbsp;&nbsp; Hua Nan Financial Holdings Co. Ltd. | Banks | 50904.0 | 37182.0 |
| &nbsp;&nbsp;&nbsp; Innolux Corp. | Electronic Equipment, Instruments & Components | 35000.0 | 12583.0 |
| &nbsp;&nbsp;&nbsp; Inventec Corp. | Technology Hardware, Storage & Peripherals | 15000.0 | 12811.0 |
| &nbsp;&nbsp;&nbsp; Largan Precision Co. Ltd. | Electronic Equipment, Instruments & Components | 510.0 | 33850.0 |
| &nbsp;&nbsp;&nbsp; Lite-On Technology Corp. | Technology Hardware, Storage & Peripherals | 10500.0 | 21796.0 |
| &nbsp;&nbsp;&nbsp; MediaTek Inc. | Semiconductors & Semiconductor Equipment | 7210.0 | 146614.0 |
| &nbsp;&nbsp;&nbsp; Mega Financial Holding Co. Ltd. | Banks | 54000.0 | 53323.0 |
| &nbsp;&nbsp;&nbsp; Micro-Star International Co. Ltd. | Technology Hardware, Storage & Peripherals | 3500.0 | 13608.0 |
| &nbsp;&nbsp;&nbsp; momo.com Inc. | Internet & Catalog Retail | 296.0 | 6183.0 |
| &nbsp;&nbsp;&nbsp; Nan Ya Plastics Corp. | Chemicals | 28000.0 | 64681.0 |
| &nbsp;&nbsp;&nbsp; Nan Ya Printed Circuit Board Corp. | Electronic Equipment, Instruments & Components | 1170.0 | 8641.0 |
| &nbsp;&nbsp;&nbsp; Nanya Technology Corp. | Semiconductors & Semiconductor Equipment | 3790.0 | 6313.0 |
| &nbsp;&nbsp;&nbsp; Nien Made Enterprise Co. Ltd. | Household Durables | 770.0 | 7378.0 |
| &nbsp;&nbsp;&nbsp; Novatek Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 2890.0 | 29666.0 |
| <sup>a</sup> OBI Pharma Inc. | Biotechnology | 880.0 | 1978.0 |
| <sup>a</sup> Oneness Biotech Co. Ltd. | Pharmaceuticals | 1400.0 | 11183.0 |
| &nbsp;&nbsp;&nbsp; Pegatron Corp. | Technology Hardware, Storage & Peripherals | 10000.0 | 20660.0 |
| &nbsp;&nbsp;&nbsp; Pou Chen Corp. | Textiles, Apparel & Luxury Goods | 12000.0 | 13353.0 |
| &nbsp;&nbsp;&nbsp; Powerchip Semiconductor Manufacturing Corp. | Semiconductors & Semiconductor Equipment | 14000.0 | 14508.0 |
| &nbsp;&nbsp;&nbsp; Powertech Technology Inc. | Semiconductors & Semiconductor Equipment | 3500.0 | 9019.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; President Chain Store Corp. | Food & Staples Retailing | 2800 | 24779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Computer Inc. | Technology Hardware, Storage & Peripherals | 13130 | 30886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 2370 | 21668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ruentex Development Co. Ltd. | Real Estate Management & Development | 11900 | 16745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shin Kong Financial Holding Co. Ltd. | Insurance | 67041 | 19129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sino-American Silicon Products Inc. | Semiconductors & Semiconductor Equipment | 2680 | 12164 |
| &nbsp;&nbsp;&nbsp;&nbsp; SinoPac Financial Holdings Co. Ltd. | Banks | 49000 | 26704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synnex Technology International Corp. | Electronic Equipment, Instruments & Components | 7000 | 13483 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taishin Financial Holding Co. Ltd. | Banks | 57257 | 28130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Business Bank | Banks | 28110 | 11844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Cement Corp. | Construction Materials | 30097 | 32951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Cooperative Financial Holding Co. Ltd. | Banks | 49000 | 41450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Fertilizer Co. Ltd. | Chemicals | 3500 | 6092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Glass Industry Corp. | Building Products | 8000 | 5531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan High Speed Rail Corp. | Transportation Infrastructure | 8000 | 7483 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Mobile Co. Ltd. | Wireless Telecommunication Services | 8000 | 24649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Secom Co. Ltd. | Commercial Services & Supplies | 1170 | 3807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | Semiconductors & Semiconductor Equipment | 116360 | 1697954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teco Electric and Machinery Co. Ltd. | Electrical Equipment | 10000 | 8964 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Shanghai Commercial & Savings Bank Ltd. | Banks | 16146 | 23140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transcend Information Inc. | Technology Hardware, Storage & Peripherals | 1170 | 2512 |
| &nbsp;&nbsp;&nbsp;&nbsp; U-Ming Marine Transport Corp. | Marine | 2000 | 3162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unimicron Technology Corp. | Electronic Equipment, Instruments & Components | 6130 | 23933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Uni-President Enterprises Corp. | Food Products | 23700 | 51355 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 57750 | 76473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard International Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 4380 | 11044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voltronic Power Technology Corp. | Electrical Equipment | 290 | 14578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walsin Lihwa Corp. | Electrical Equipment | 16851 | 25878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walsin Technology Corp. | Electronic Equipment, Instruments & Components | 2450 | 6297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wan Hai Lines Ltd. | Marine | 4460 | 11623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Win Semiconductors Corp. | Semiconductors & Semiconductor Equipment | 1750 | 7772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Winbond Electronics Corp. | Semiconductors & Semiconductor Equipment | 12000 | 7652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wistron Corp. | Technology Hardware, Storage & Peripherals | 14000 | 13392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wiwynn Corp. | Technology Hardware, Storage & Peripherals | 420 | 10891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yageo Corp. | Electronic Equipment, Instruments & Components | 2000 | 29347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yang Ming Marine Transport Corp. | Marine | 8750 | 18647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co. Ltd. | Capital Markets | 56000 | 39537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yulon Motor Co. Ltd. | Automobiles | 2863 | 5775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhen Ding Technology Holding Ltd. | Electronic Equipment, Instruments & Components | 2630 | 8985 |
|  |  |  | 4328868 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Thailand 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Info Service PCL, NVDR | Wireless Telecommunication Services | 5600 | 31529 |
| <sup>a</sup> Airports of Thailand PCL, H, NVDR | Transportation Infrastructure | 20700 | 44825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset World Corp. PCL, H, NVDR | Hotels, Restaurants & Leisure | 37100 | 6748 |
| &nbsp;&nbsp;&nbsp;&nbsp; B Grimm Power PCL, A, NVDR | Independent Power Producers & Energy Traders | 3900 | 4476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bangkok Bank PCL, A, fgn. | Banks | 2100 | 9095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bangkok Bank PCL, A, NVDR | Banks | 1100 | 4701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bangkok Dusit Medical Services PCL, A, NVDR | Health Care Providers & Services | 44100 | 36925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bangkok Expressway & Metro PCL, H, NVDR | Transportation Infrastructure | 38900 | 11007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bangkok Life Assurance PCL, A, NVDR | Insurance | 2500 | 2075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banpu PCL, A, NVDR | Oil, Gas & Consumable Fuels | 28000 | 11076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berli Jucker PCL, A, NVDR | Food & Staples Retailing | 4900 | 4987 |
| &nbsp;&nbsp;&nbsp;&nbsp; BTS Group Holdings PCL, A, NVDR | Road & Rail | 42000 | 10186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bumrungrad Hospital PCL, NVDR | Health Care Providers & Services | 2800 | 17139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carabao Group PCL, A, NVDR | Beverages | 1800 | 5028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Pattana PCL, A, NVDR | Real Estate Management & Development | 13700 | 28084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Retail Corp. PCL, A, NVDR | Multiline Retail | 14000 | 18695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charoen Pokphand Foods PCL, A, NVDR | Food Products | 24900 | 17829 |
| &nbsp;&nbsp;&nbsp;&nbsp; CP ALL PCL, B, NVDR | Food & Staples Retailing | 29100 | 57343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Electronics Thailand PCL, A, NVDR | Electronic Equipment, Instruments & Components | 1400 | 33550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Telecommunications Infrastructure Fund, A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; fgn. | Diversified Financial Services | 25900 | 9796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electricity Generating PCL, A, NVDR | Independent Power Producers & Energy Traders | 1400 | 6973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Absolute PCL, A, NVDR | Oil, Gas & Consumable Fuels | 8400 | 23525 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Global Power Synergy PCL, NVDR | Independent Power Producers & Energy Traders | 3500 | 7377 |
| &nbsp;&nbsp;&nbsp; Gulf Energy Development PCL, NVDR | Independent Power Producers & Energy Traders | 20000 | 31904 |
| &nbsp;&nbsp;&nbsp; Home Product Center PCL, NVDR | Specialty Retail | 28000 | 12531 |
| &nbsp;&nbsp;&nbsp; Indorama Ventures PCL, NVDR | Chemicals | 8800 | 10354 |
| &nbsp;&nbsp;&nbsp; Intouch Holdings PCL, NVDR | Wireless Telecommunication Services | 7000 | 15613 |
| &nbsp;&nbsp;&nbsp; IRPC PCL, NVDR | Oil, Gas & Consumable Fuels | 48700 | 4246 |
| &nbsp;&nbsp;&nbsp; Kasikornbank PCL, fgn. | Banks | 5300 | 22571 |
| &nbsp;&nbsp;&nbsp; Kasikornbank PCL, NVDR | Banks | 1800 | 7666 |
| &nbsp;&nbsp;&nbsp; Krung Thai Bank PCL, NVDR | Banks | 30800 | 15740 |
| &nbsp;&nbsp;&nbsp; Krungthai Card PCL, NVDR | Consumer Finance | 6600 | 11243 |
| &nbsp;&nbsp;&nbsp; Land & Houses PCL, NVDR | Real Estate Management & Development | 34700 | 9919 |
| &nbsp;&nbsp; <sup>a</sup> Minor International PCL, NVDR | Hotels, Restaurants & Leisure | 17900 | 16667 |
| &nbsp;&nbsp;&nbsp; Muangthai Capital PCL, NVDR | Consumer Finance | 3500 | 3840 |
| &nbsp;&nbsp;&nbsp; Osotspa PCL, NVDR | Beverages | 6700 | 5465 |
| &nbsp;&nbsp;&nbsp; PTT Exploration & Production PCL, NVDR | Oil, Gas & Consumable Fuels | 6300 | 32105 |
| &nbsp;&nbsp;&nbsp; PTT Global Chemical PCL, NVDR | Chemicals | 9800 | 13369 |
| &nbsp;&nbsp;&nbsp; PTT Oil & Retail Business PCL, NVDR | Specialty Retail | 13700 | 9414 |
| &nbsp;&nbsp;&nbsp; PTT PCL, NVDR | Oil, Gas & Consumable Fuels | 69000 | 66241 |
| &nbsp;&nbsp;&nbsp; Ratch Group PCL, NVDR | Independent Power Producers & Energy Traders | 6000 | 7406 |
| &nbsp;&nbsp;&nbsp; SCB X PCL | Banks | 8400 | 25951 |
| &nbsp;&nbsp;&nbsp; SCG Packaging PCL, NVDR | Containers & Packaging | 6000 | 9874 |
| &nbsp;&nbsp;&nbsp; Siam City Cement PCL, NVDR | Construction Materials | 400 | 1773 |
| &nbsp;&nbsp;&nbsp; Siam Makro PCL, NVDR | Food & Staples Retailing | 7000 | 8084 |
| &nbsp;&nbsp;&nbsp; Sri Trang Gloves Thailand PCL, NVDR | Health Care Equipment & Supplies | 4900 | 1415 |
| &nbsp;&nbsp;&nbsp; Srisawad Corp. PCL, NVDR | Consumer Finance | 3200 | 4504 |
| &nbsp;&nbsp;&nbsp; Thai Oil PCL, NVDR | Oil, Gas & Consumable Fuels | 5375 | 8730 |
| &nbsp;&nbsp;&nbsp; Thai Union Group PCL, NVDR | Food Products | 14400 | 7026 |
| &nbsp;&nbsp;&nbsp; The Siam Cement PCL, NVDR | Construction Materials | 3500 | 34560 |
| &nbsp;&nbsp;&nbsp; TMBThanachart Bank PCL, NVDR | Banks | 210000 | 8549 |
| &nbsp;&nbsp;&nbsp; Total Access Communication PCL, NVDR | Wireless Telecommunication Services | 3500 | 4724 |
| &nbsp;&nbsp;&nbsp; True Corp. PCL, NVDR | Diversified Telecommunication Services | 54300 | 7588 |
|  |  |  | 822041 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CK Hutchison Holdings Ltd., A | Real Estate Management & Development | 13000 | 78034 |
| &nbsp;&nbsp;&nbsp; **United States 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>b</sup> JS Global Lifestyle Co. Ltd., 144A | Household Durables | 5500 | 6180 |
| &nbsp;&nbsp;&nbsp; Parade Technologies Ltd. | Semiconductors & Semiconductor Equipment | 350 | 8802 |
| <sup>a,b</sup> Samsonite International SA, 144A | Textiles, Apparel & Luxury Goods | 6300 | 16588 |
|  |  |  | 31570 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $31,890,625)** |  |  | 28642436 |
| &nbsp;&nbsp;&nbsp; **Preferred Stocks 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **South Korea 0.7%** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Amorepacific Corp., 2.039%,pfd. | Personal Products | 53 | 2024 |
| &nbsp;&nbsp; <sup>d</sup> CJ CheilJedang Corp., 1.780%,pfd. | Food Products | 7 | 933 |
| &nbsp;&nbsp; <sup>d</sup> Hyundai Motor Co., 1.353%,pfd. | Automobiles | 172 | 10052 |
| &nbsp;&nbsp; <sup>d</sup> Hyundai Motor Co., 6.824%,pfd. | Automobiles | 112 | 6554 |
| &nbsp;&nbsp; <sup>d</sup> LG Chem Ltd., 4.342%, pfd. | Chemicals | 28 | 6145 |
| &nbsp;&nbsp; <sup>d</sup> LG Electronics Inc., 2.140%,pfd. | Household Durables | 77 | 2561 |
| &nbsp;&nbsp; <sup>d</sup> LG H&H Co. Ltd., 3.819%,pfd. | Personal Products | 11 | 2745 |
| &nbsp;&nbsp; <sup>d</sup> Samsung Electronics Co. Ltd., 2,145%, pfd. | Technology Hardware, Storage & Peripherals | 3983 | 159068 |
| &nbsp;&nbsp; <sup>d</sup> Samsung Fire & Marine Insurance Co. Ltd., |  |  |  |
| 7.846%, pfd. | Insurance | 14 | 1694 |
| &nbsp;&nbsp; <sup>d</sup> Samsung SDI Co. Ltd., 0.379%,pfd. | Electronic Equipment, Instruments & Components | 7 | 1533 |
| &nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $215,799)** |  |  | 193309 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Right 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**South Korea 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> Lotte Chemical Corp. | Chemicals | 15 | 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Rights (Cost $0)** |  |  | 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Investments (Cost $32,106,424) 100.1%** |  |  | 28836160 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities (0.1)%** |  |  | (22622) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | 28813538 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,700,575, representing 5.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,700,575, representing 5.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,700,575, representing 5.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,700,575, representing 5.9% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. | <sup>c</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. |  |  |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |  |  |  |

---

**Abbreviations**<br>**Selected Portfolio**<br>**ADR** – American Depositary Receipt<br>**NVDR** – Non-Voting Depositary Receipt<br>**REIT** – Real Estate Investment Trust<br>**SF** – Single Family<br>**SPA** – Standby Purchase Agreement<br>**SRF** – State Revolving Fund

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Australia ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Australia 96.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Adbri Ltd. | Construction Materials | 11017 | $12365 |
| &nbsp;&nbsp;&nbsp; AGL Energy Ltd. | Multi-Utilities | 15870 | 86851 |
| &nbsp;&nbsp; <sup>a</sup> Allkem Ltd. | Metals & Mining | 13731 | 104663 |
| &nbsp;&nbsp;&nbsp; ALS Ltd. | Professional Services | 11362 | 94234 |
| &nbsp;&nbsp;&nbsp; Altium Ltd. | Software | 2783 | 66206 |
| &nbsp;&nbsp;&nbsp; Alumina Ltd. | Metals & Mining | 59317 | 61143 |
| &nbsp;&nbsp; <sup>a</sup> AMP Ltd. | Diversified Financial Services | 73416 | 65470 |
| &nbsp;&nbsp;&nbsp; Ampol Ltd. | Oil, Gas & Consumable Fuels | 5612 | 107627 |
| &nbsp;&nbsp;&nbsp; Ansell Ltd. | Health Care Equipment & Supplies | 3013 | 57702 |
| &nbsp;&nbsp;&nbsp; ANZ Group Holdings Ltd. | Banks | 70495 | 1131094 |
| &nbsp;&nbsp;&nbsp; APA Group | Gas Utilities | 27853 | 203240 |
| &nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. | Hotels, Restaurants & Leisure | 15548 | 321799 |
| &nbsp;&nbsp;&nbsp; ASX Ltd. | Capital Markets | 4554 | 210066 |
| &nbsp;&nbsp;&nbsp; Atlas Arteria Ltd. | Transportation Infrastructure | 34201 | 153308 |
| &nbsp;&nbsp;&nbsp; Aurizon Holdings Ltd. | Road & Rail | 41653 | 105361 |
| &nbsp;&nbsp;&nbsp; Bank of Queensland Ltd. | Banks | 15157 | 70923 |
| &nbsp;&nbsp;&nbsp; Beach Energy Ltd. | Oil, Gas & Consumable Fuels | 41147 | 44507 |
| &nbsp;&nbsp;&nbsp; Bendigo & Adelaide Bank Ltd. | Banks | 13294 | 88440 |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | Metals & Mining | 118588 | 3669585 |
| &nbsp;&nbsp;&nbsp; BlueScope Steel Ltd. | Metals & Mining | 10948 | 125027 |
| &nbsp;&nbsp;&nbsp; Boral Ltd. | Construction Materials | 8142 | 15957 |
| &nbsp;&nbsp;&nbsp; Brambles Ltd. | Commercial Services & Supplies | 32729 | 267896 |
| &nbsp;&nbsp;&nbsp; carsales.com Ltd. | Interactive Media & Services | 7912 | 111388 |
| &nbsp;&nbsp;&nbsp; Challenger Ltd. | Diversified Financial Services | 15870 | 82008 |
| &nbsp;&nbsp;&nbsp; Charter Hall Group | Equity Real Estate Investment Trusts (REITs) | 11109 | 90252 |
| &nbsp;&nbsp;&nbsp; Cleanaway Waste Management Ltd. | Commercial Services & Supplies | 52486 | 93611 |
| &nbsp;&nbsp;&nbsp; Cochlear Ltd. | Health Care Equipment & Supplies | 1518 | 210128 |
| &nbsp;&nbsp;&nbsp; Coles Group Ltd. | Food & Staples Retailing | 29969 | 339809 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | Banks | 40250 | 2800522 |
| &nbsp;&nbsp;&nbsp; Computershare Ltd. | IT Services | 12673 | 225168 |
| &nbsp;&nbsp;&nbsp; CSL Ltd. | Biotechnology | 11339 | 2212743 |
| &nbsp;&nbsp;&nbsp; CSR Ltd. | Construction Materials | 11316 | 36144 |
| &nbsp;&nbsp;&nbsp; Deterra Royalties Ltd. | Metals & Mining | 9775 | 30360 |
| &nbsp;&nbsp;&nbsp; Dexus | Equity Real Estate Investment Trusts (REITs) | 25346 | 133210 |
| &nbsp;&nbsp;&nbsp; Domain Holdings Australia Ltd. | Interactive Media & Services | 5980 | 10990 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza Enterprises Ltd. | Hotels, Restaurants & Leisure | 1426 | 64067 |
| &nbsp;&nbsp;&nbsp; Downer EDI Ltd. | Commercial Services & Supplies | 15686 | 39465 |
| &nbsp;&nbsp;&nbsp; Endeavour Group Ltd. | Food & Staples Retailing | 32246 | 140390 |
| &nbsp;&nbsp;&nbsp; Evolution Mining Ltd. | Metals & Mining | 40641 | 82131 |
| &nbsp;&nbsp; <sup>a</sup> Flight Centre Travel Group Ltd. | Hotels, Restaurants & Leisure | 3450 | 33901 |
| &nbsp;&nbsp;&nbsp; Fortescue Metals Group Ltd. | Metals & Mining | 37490 | 521443 |
| &nbsp;&nbsp;&nbsp; Goodman Group | Equity Real Estate Investment Trusts (REITs) | 43217 | 508780 |
| &nbsp;&nbsp;&nbsp; Harvey Norman Holdings Ltd. | Multiline Retail | 13800 | 38651 |
| &nbsp;&nbsp;&nbsp; IDP Education Ltd. | Diversified Consumer Services | 4278 | 78853 |
| &nbsp;&nbsp;&nbsp; IGO Ltd. | Metals & Mining | 14651 | 133733 |
| &nbsp;&nbsp;&nbsp; Iluka Resources Ltd. | Metals & Mining | 9913 | 64065 |
| &nbsp;&nbsp;&nbsp; Incitec Pivot Ltd. | Chemicals | 45747 | 116648 |
| &nbsp;&nbsp;&nbsp; Insignia Financial Ltd. | Capital Markets | 14881 | 33807 |
| &nbsp;&nbsp;&nbsp; Insurance Australia Group Ltd. | Insurance | 58121 | 187220 |
| &nbsp;&nbsp;&nbsp; JB Hi-Fi Ltd. | Specialty Retail | 2576 | 73283 |
| &nbsp;&nbsp;&nbsp; Lendlease Corp. Ltd. | Real Estate Management & Development | 16215 | 86210 |
| &nbsp;&nbsp; <sup>a</sup> Lottery Corp. Ltd. | Hotels, Restaurants & Leisure | 52548 | 159647 |
| &nbsp;&nbsp; <sup>a</sup> Lynas Rare Earths Ltd. | Metals & Mining | 21206 | 112890 |
| &nbsp;&nbsp;&nbsp; Macquarie Group Ltd. | Capital Markets | 8188 | 927078 |
| &nbsp;&nbsp;&nbsp; Magellan Financial Group Ltd. | Capital Markets | 3335 | 20219 |
| &nbsp;&nbsp;&nbsp; Medibank Pvt Ltd. | Insurance | 64975 | 129985 |
| &nbsp;&nbsp;&nbsp; Metcash Ltd. | Food & Staples Retailing | 22793 | 61519 |
| &nbsp;&nbsp;&nbsp; Mineral Resources Ltd. | Metals & Mining | 3933 | 205905 |
| &nbsp;&nbsp;&nbsp; Mirvac Group | Equity Real Estate Investment Trusts (REITs) | 92874 | 134153 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; National Australia Bank Ltd. | Banks | 74865 | 1526137 |
| &nbsp;&nbsp;&nbsp; Newcrest Mining Ltd. | Metals & Mining | 21045 | 294567 |
| &nbsp;&nbsp; <sup>a</sup> NEXTDC Ltd. | IT Services | 10695 | 66001 |
| &nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | Metals & Mining | 26864 | 198756 |
| &nbsp;&nbsp;&nbsp; Nufarm Ltd. | Chemicals | 9131 | 37958 |
| &nbsp;&nbsp;&nbsp; Orica Ltd. | Chemicals | 10580 | 108053 |
| &nbsp;&nbsp;&nbsp; Origin Energy Ltd. | Oil, Gas & Consumable Fuels | 40503 | 212046 |
| &nbsp;&nbsp;&nbsp; Orora Ltd. | Containers & Packaging | 19803 | 38811 |
| &nbsp;&nbsp;&nbsp; OZ Minerals Ltd. | Metals & Mining | 7705 | 145782 |
| &nbsp;&nbsp;&nbsp; Perpetual Ltd. | Capital Markets | 1380 | 23022 |
| &nbsp;&nbsp; <sup>a</sup> Pilbara Minerals Ltd. | Metals & Mining | 62123 | 157983 |
| &nbsp;&nbsp;&nbsp; Platinum Asset Management Ltd. | Capital Markets | 12558 | 15244 |
| &nbsp;&nbsp;&nbsp; Pro Medicus Ltd. | Health Care Technology | 966 | 36200 |
| &nbsp;&nbsp; <sup>a</sup> Qantas Airways Ltd. | Airlines | 19550 | 79680 |
| &nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. | Insurance | 34937 | 318191 |
| &nbsp;&nbsp;&nbsp; Qube Holdings Ltd. | Transportation Infrastructure | 39192 | 74684 |
| &nbsp;&nbsp;&nbsp; Ramsay Health Care Ltd. | Health Care Providers & Services | 4117 | 180639 |
| &nbsp;&nbsp;&nbsp; REA Group Ltd. | Media | 1173 | 88138 |
| &nbsp;&nbsp;&nbsp; Reece Ltd. | Trading Companies & Distributors | 4991 | 47893 |
| &nbsp;&nbsp;&nbsp; Region RE Ltd. | Equity Real Estate Investment Trusts (REITs) | 26979 | 49582 |
| &nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | Metals & Mining | 8763 | 691781 |
| &nbsp;&nbsp;&nbsp; Santos Ltd. | Oil, Gas & Consumable Fuels | 71185 | 344677 |
| &nbsp;&nbsp;&nbsp; Scentre Group | Real Estate Investment Trusts (REITs) | 122337 | 238933 |
| &nbsp;&nbsp;&nbsp; SEEK Ltd. | Professional Services | 8234 | 116982 |
| &nbsp;&nbsp;&nbsp; Seven Group Holdings Ltd. | Trading Companies & Distributors | 3312 | 47099 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare Ltd. | Health Care Providers & Services | 11316 | 229988 |
| &nbsp;&nbsp;&nbsp; South32 Ltd. | Metals & Mining | 108169 | 293419 |
| &nbsp;&nbsp; <sup>a</sup> Star Entertainment Grp Ltd. | Hotels, Restaurants & Leisure | 19895 | 23881 |
| &nbsp;&nbsp;&nbsp; Stockland | Real Estate Investment Trusts (REITs) | 56281 | 138546 |
| &nbsp;&nbsp;&nbsp; Suncorp Group Ltd. | Insurance | 29785 | 243192 |
| &nbsp;&nbsp;&nbsp; Tabcorp Holdings Ltd. | Hotels, Restaurants & Leisure | 53337 | 38883 |
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. | Diversified Telecommunication Services | 96393 | 260822 |
| &nbsp;&nbsp;&nbsp; The GPT Group | Equity Real Estate Investment Trusts (REITs) | 45195 | 128726 |
| &nbsp;&nbsp;&nbsp; TPG Telecom Ltd. | Diversified Telecommunication Services | 8487 | 28144 |
| &nbsp;&nbsp;&nbsp; Transurban Group | Transportation Infrastructure | 72381 | 637126 |
| &nbsp;&nbsp;&nbsp; Treasury Wine Estates Ltd. | Beverages | 17043 | 157300 |
| &nbsp;&nbsp;&nbsp; Vicinity Ltd. | Real Estate Investment Trusts (REITs) | 88895 | 120568 |
| &nbsp;&nbsp;&nbsp; Washington H Soul Pattinson & Co. Ltd. | Oil, Gas & Consumable Fuels | 6279 | 117779 |
| &nbsp;&nbsp;&nbsp; Wesfarmers Ltd. | Multiline Retail | 26680 | 830652 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. | Banks | 82110 | 1300196 |
| &nbsp;&nbsp;&nbsp; Whitehaven Coal Ltd. | Oil, Gas & Consumable Fuels | 18308 | 116955 |
| &nbsp;&nbsp;&nbsp; WiseTech Global Ltd. | Software | 3726 | 128234 |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | Oil, Gas & Consumable Fuels | 44551 | 1070723 |
| &nbsp;&nbsp;&nbsp; Woolworths Group Ltd. | Food & Staples Retailing | 28635 | 651696 |
| &nbsp;&nbsp;&nbsp; Worley Ltd. | Energy Equipment & Services | 8832 | 89841 |
|  |  |  | 29139350 |
| &nbsp;&nbsp;&nbsp; **Ireland 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; James Hardie Industries PLC | Construction Materials | 10442 | 186945 |
| &nbsp;&nbsp;&nbsp; **New Zealand 0.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Xero Ltd. | Software | 2967 | 141388 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Amcor PLC, IDR | Containers & Packaging | 35443 | 425431 |
| &nbsp;&nbsp;&nbsp; **United States 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Sims Ltd. | Metals & Mining | 3726 | 33076 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $28,565,848) 99.2%** |  |  | 29926190 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.8%** |  |  | 246728 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $30172918 |

---

<sup>a</sup>Non-income producing.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  |  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | Notional | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | Amount\* | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| SPI 200 Index | SPI 200 Index | Long | &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;&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;&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;&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;2 | $237081 | 3/16/23 | $(5021) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **IDR** | International Depository Receipt |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Brazil ETF** | **Industry** | &nbsp;&nbsp; **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 73.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Brazil 71.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Ambev SA | Beverages | 3621800 | $9960422 |
| &nbsp;&nbsp;&nbsp; Americanas SA | Internet & Catalog Retail | 546000 | 997945 |
| &nbsp;&nbsp;&nbsp; Atacadao SA | Food & Staples Retailing | 436800 | 1222767 |
| &nbsp;&nbsp;&nbsp; Auren Energia SA | Independent Power Producers & Energy Traders | 291243 | 812540 |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | Capital Markets | 5041400 | 12613645 |
| &nbsp;&nbsp;&nbsp; Banco Bradesco SA | Banks | 1255800 | 3203869 |
| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA | Capital Markets | 964600 | 4373791 |
| &nbsp;&nbsp;&nbsp; Banco do Brasil SA | Banks | 709804 | 4669064 |
| &nbsp;&nbsp;&nbsp; Banco Santander Brasil SA | Banks | 309400 | 1651969 |
| &nbsp;&nbsp;&nbsp; BB Seguridade Participacoes SA | Insurance | 564200 | 3602288 |
| &nbsp;&nbsp;&nbsp; BR Malls Participacoes SA | Real Estate Management & Development | 691600 | 1087226 |
| &nbsp;&nbsp;&nbsp; Bradespar SA | Metals & Mining | 27330 | 132360 |
| &nbsp;&nbsp; <sup>a</sup> BRF SA | Food Products | 673400 | 1056064 |
| &nbsp;&nbsp;&nbsp; Caixa Seguridade Participacoes S/A | Insurance | 382200 | 604455 |
| &nbsp;&nbsp;&nbsp; CCR SA | Transportation Infrastructure | 928200 | 1902197 |
| &nbsp;&nbsp;&nbsp; Centrais Eletricas Brasileiras SA | Electric Utilities | 1092000 | 8711594 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao |  |  |  |
| Paulo | Water Utilities | 281000 | 3042182 |
| &nbsp;&nbsp;&nbsp; Cia Energetica de Minas Gerais | Electric Utilities | 273000 | 835068 |
| &nbsp;&nbsp;&nbsp; Cia Paranaense de Energia | Electric Utilities | 254800 | 331545 |
| &nbsp;&nbsp;&nbsp; Cia Siderurgica Nacional SA | Metals & Mining | 509600 | 1404362 |
| &nbsp;&nbsp;&nbsp; Cielo SA | IT Services | 946400 | 939275 |
| &nbsp;&nbsp;&nbsp; Cosan SA | Oil, Gas & Consumable Fuels | 982800 | 3186805 |
| &nbsp;&nbsp;&nbsp; CPFL Energia SA | Electric Utilities | 163800 | 1030003 |
| &nbsp;&nbsp;&nbsp; CSN Mineracao SA | Metals & Mining | 436800 | 337543 |
| &nbsp;&nbsp;&nbsp; Dexco SA | Paper & Forest Products | 279960 | 359511 |
| &nbsp;&nbsp;&nbsp; Diagnosticos da America SA | Health Care Providers & Services | 72800 | 189317 |
| &nbsp;&nbsp;&nbsp; EDP - Energias do Brasil SA | Electric Utilities | 218400 | 859991 |
| &nbsp;&nbsp; <sup>a</sup> Embraer SA | Aerospace & Defense | 618800 | 1677168 |
| &nbsp;&nbsp;&nbsp; Energisa SA | Electric Utilities | 244280 | 2045479 |
| &nbsp;&nbsp; <sup>a</sup> Eneva SA | Independent Power Producers & Energy Traders | 1001000 | 2261836 |
| &nbsp;&nbsp;&nbsp; Engie Brasil Energia SA | Independent Power Producers & Energy Traders | 145600 | 1044619 |
| &nbsp;&nbsp;&nbsp; Equatorial Energia SA | Electric Utilities | 782600 | 4005086 |
| <sup>a,b</sup> GPS Participacoes e Empreendimentos SA, 144A | Commercial Services & Supplies | 345800 | 780052 |
| &nbsp;&nbsp;&nbsp; Grendene SA | Textiles, Apparel & Luxury Goods | 291200 | 332579 |
| &nbsp;&nbsp;&nbsp; GRUPO DE MODA SOMA SA | Textiles, Apparel & Luxury Goods | 364000 | 699079 |
| &nbsp;&nbsp; <sup>a</sup> Grupo Mateus SA | Food & Staples Retailing | 327600 | 392146 |
| <sup>a,b</sup> Hapvida Participacoes e Investimentos S/A, 144A | Health Care Providers & Services | 3330600 | 3204593 |
| &nbsp;&nbsp;&nbsp; Hypera SA | Pharmaceuticals | 327600 | 2804587 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA | Banks | 382200 | 1584612 |
| &nbsp;&nbsp;&nbsp; Klabin SA | Containers & Packaging | 637000 | 2409374 |
| &nbsp;&nbsp;&nbsp; Localiza Rent a Car SA | Road & Rail | 646231 | 6511575 |
| &nbsp;&nbsp;&nbsp; Lojas Renner SA | Multiline Retail | 800800 | 3106280 |
| &nbsp;&nbsp;&nbsp; M Dias Branco SA | Food Products | 109200 | 741065 |
| &nbsp;&nbsp; <sup>a</sup> Magazine Luiza SA | Multiline Retail | 2511600 | 1303430 |
| &nbsp;&nbsp;&nbsp; Marfrig Global Foods SA | Food Products | 254800 | 419861 |
| &nbsp;&nbsp;&nbsp; Multiplan Empreendimentos Imobiliarios SA | Real Estate Management & Development | 236600 | 981399 |
| &nbsp;&nbsp;&nbsp; Natura & Co. Holding SA | Personal Products | 800816 | 1760969 |
| &nbsp;&nbsp;&nbsp; Neoenergia SA | Electric Utilities | 182000 | 532582 |
| &nbsp;&nbsp;&nbsp; Odontoprev SA | Health Care Providers & Services | 236620 | 404693 |
| &nbsp;&nbsp; <sup>a</sup> Petro Rio SA | Oil, Gas & Consumable Fuels | 553400 | 3900187 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA | Oil, Gas & Consumable Fuels | 3075800 | 16335136 |
| &nbsp;&nbsp;&nbsp; Porto Seguro SA | Insurance | 145600 | 638409 |
| &nbsp;&nbsp;&nbsp; Raia Drogasil SA | Food & Staples Retailing | 891843 | 4006727 |
| &nbsp;&nbsp; <sup>b</sup> Rede D'Or Sao Luiz SA, 144A | Health Care Providers & Services | 650503 | 3644466 |
| &nbsp;&nbsp;&nbsp; Rumo SA | Road & Rail | 1037400 | 3656615 |
| &nbsp;&nbsp;&nbsp; Sao Martinho SA | Food Products | 127400 | 639926 |
| &nbsp;&nbsp;&nbsp; Sendas Distribuidora SA | Food & Staples Retailing | 764400 | 2818858 |
| &nbsp;&nbsp;&nbsp; SIMPAR SA | Road & Rail | 236600 | 302934 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| SLC Agricola SA | Food Products | 80200 | 712568 |
| <sup>a</sup> Smartfit Escola de Ginastica e Danca SA | Hotels, Restaurants & Leisure | 91000 | 234233 |
| Suzano SA | Paper & Forest Products | 582400 | 5321270 |
| Telefonica Brasil SA | Diversified Telecommunication Services | 364000 | 2643951 |
| TIM SA | Wireless Telecommunication Services | 673400 | 1581545 |
| TOTVS SA | Software | 364000 | 1904196 |
| Transmissora Alianca de Energia Eletrica SA | Electric Utilities | 182000 | 1195121 |
| Ultrapar Participacoes SA | Oil, Gas & Consumable Fuels | 691600 | 1651797 |
| Usinas Siderurgicas de Minas Gerais SA Usiminas | Metals & Mining | 145600 | 204346 |
| Vale SA | Metals & Mining | 3225479 | 54298134 |
| Vamos Locacao de Caminhoes Maquinas e |  |  |  |
| Equipamentos SA | Road & Rail | 254800 | 610005 |
| Vibra Energia SA | Specialty Retail | 928200 | 2733749 |
| WEG SA | Machinery | 1237600 | 9026938 |
|  |  |  | 226181973 |
| **United States 1.5%** |  |  |  |
| JBS SA | Food Products | 1128400 | 4699752 |
| **Total Common Stocks (Cost $230,123,053)** |  |  | 230881725 |
| **Preferred Stocks 24.4%** |  |  |  |
| **Brazil 24.4%** |  |  |  |
| <sup>c</sup> Alpargatas SA, 2.725%, pfd. | Textiles, Apparel & Luxury Goods | 200200 | 571810 |
| <sup>c</sup> Banco Bradesco SA, 4.052%, pfd. | Banks | 4313400 | 12377103 |
| <sup>c</sup> Bradespar SA, 11.009%,pfd. | Metals & Mining | 200284 | 1127410 |
| <sup>c</sup> Braskem SA, 7.138%, pfd., A | Chemicals | 163800 | 737135 |
| <sup>c</sup> Centrais Eletricas Brasileiras SA, 3.734%, pfd.,B | Electric Utilities | 236600 | 1937254 |
| <sup>c</sup> Cia de Transmissao de Energia Eletrica Paulista, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.922%,pfd. | Electric Utilities | 145600 | 634272 |
| <sup>c</sup> Cia Energetica de Minas Gerais, 12.217%, pfd. | Electric Utilities | 1055600 | 2227261 |
| <sup>c</sup> Cia Paranaense de Energia, 12.554%,pfd. | Electric Utilities | 1092000 | 1636009 |
| <sup>c</sup> Gerdau SA, 17.194%, pfd. | Metals & Mining | 855400 | 4758388 |
| <sup>c</sup> Itau Unibanco Holding SA, 4.072%,pfd. | Banks | 4004000 | 18959231 |
| <sup>c</sup> Itausa SA, 6.839%,pfd. | Banks | 4331610 | 6981770 |
| <sup>c</sup> Metalurgica Gerdau SA, 9.637%,pfd. | Metals & Mining | 564200 | 1385989 |
| <sup>c</sup> Petroleo Brasileiro SA, 42.90%, pfd. | Oil, Gas & Consumable Fuels | 4659200 | 21620418 |
| <sup>c</sup> Raizen SA, 4.545%, pfd. | Oil, Gas & Consumable Fuels | 982800 | 696183 |
| <sup>c</sup> Unipar Carbocloro SA, 15.572%, pfd.,B | Chemicals | 39940 | 665774 |
| <sup>c</sup> Usinas Siderurgicas de Minas Gerais SA Usiminas, |  |  |  |
| 8.785%, pfd.,A | Metals & Mining | 382200 | 518311 |
| **Total Preferred Stocks (Cost $83,115,160)** |  |  | 76834318 |
| **Right 0.0%<sup>†</sup>** |  |  |  |
| **Brazil 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> Localiza Rent a Car SA | Road & Rail | 2702 | 5507 |
| **Total Rights (Cost $0)** |  |  | 5507 |
| **Total Investments (Cost $313,238,213) 97.6%** |  |  | 307721550 |
| **Other Assets, less Liabilities 2.4%** |  |  | 7584133 |
| **Net Assets 100.0%** |  |  | $315305683 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $7,629,111, representing 2.4% of net assets.<br> <sup>c</sup>Variable rate security. The rate shown represents the yield at period end.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |
|  |  |  |  | **Value/Unrealized** |
|  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** |  |  |  |  |
| Bovespa Index | Long 360 | $7575563 | 2/15/23 | $23356 |
| \*As of period end. |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Canada ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Canada 97.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. | Metals & Mining | 71323 | $3703669 |
| &nbsp;&nbsp;&nbsp; Alimentation Couche-Tard Inc. | Food & Staples Retailing | 122360 | 5373202 |
| &nbsp;&nbsp;&nbsp; Bank of Montreal | Banks | 107548 | 9736033 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia | Banks | 186599 | 9136114 |
| &nbsp;&nbsp;&nbsp; Barrick Gold Corp. | Metals & Mining | 277403 | 4751853 |
| &nbsp;&nbsp;&nbsp; BCE Inc. | Diversified Telecommunication Services | 47495 | 2085300 |
| &nbsp;&nbsp; <sup>a</sup> Brookfield Asset Management Inc., A | Capital Markets | 54419 | 1557109 |
| &nbsp;&nbsp;&nbsp; Brookfield Corp. | Capital Markets | 217994 | 6850573 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce, A | Banks | 138138 | 5583836 |
| &nbsp;&nbsp;&nbsp; Canadian National Railway Co. | Road & Rail | 94507 | 11218500 |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd. | Oil, Gas & Consumable Fuels | 170016 | 9434668 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Ltd. | Road & Rail | 145383 | 10831701 |
| &nbsp;&nbsp;&nbsp; Canadian Tire Corp. Ltd. | Multiline Retail | 8533 | 891117 |
| &nbsp;&nbsp;&nbsp; Canadian Utilities Ltd., A | Multi-Utilities | 19159 | 518231 |
| &nbsp;&nbsp;&nbsp; Cenovus Energy Inc. | Oil, Gas & Consumable Fuels | 187565 | 3636542 |
| &nbsp;&nbsp; <sup>a</sup> CGI Inc., A | IT Services | 33005 | 2842919 |
| &nbsp;&nbsp;&nbsp; Constellation Software Inc. | Software | 2984 | 4655564 |
| &nbsp;&nbsp;&nbsp; Dollarama Inc. | Multiline Retail | 42504 | 2484145 |
| &nbsp;&nbsp;&nbsp; Enbridge Inc. | Oil, Gas & Consumable Fuels | 316848 | 12375066 |
| &nbsp;&nbsp;&nbsp; Fairfax Financial Holdings Ltd. | Insurance | 3353 | 1984827 |
| &nbsp;&nbsp;&nbsp; Fortis Inc. | Electric Utilities | 74704 | 2987168 |
| &nbsp;&nbsp;&nbsp; Franco-Nevada Corp. | Metals & Mining | 29785 | 4057284 |
| &nbsp;&nbsp;&nbsp; George Weston Ltd. | Food & Staples Retailing | 10787 | 1337399 |
| &nbsp;&nbsp;&nbsp; Great-West Lifeco Inc. | Insurance | 42504 | 981863 |
| &nbsp;&nbsp; <sup>b</sup> Hydro One Ltd., 144A | Electric Utilities | 49427 | 1323087 |
| &nbsp;&nbsp;&nbsp; IGM Financial Inc. | Capital Markets | 12880 | 359323 |
| &nbsp;&nbsp;&nbsp; Imperial Oil Ltd. | Oil, Gas & Consumable Fuels | 29624 | 1441900 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp. | Insurance | 27531 | 3960343 |
| &nbsp;&nbsp;&nbsp; Loblaw Cos. Ltd | Food & Staples Retailing | 24311 | 2148059 |
| &nbsp;&nbsp;&nbsp; Magna International Inc. | Auto Components | 41699 | 2340770 |
| &nbsp;&nbsp;&nbsp; Manulife Financial Corp. | Insurance | 298494 | 5320219 |
| &nbsp;&nbsp;&nbsp; Metro Inc., A | Food & Staples Retailing | 37030 | 2048887 |
| &nbsp;&nbsp;&nbsp; National Bank of Canada | Banks | 52486 | 3533930 |
| &nbsp;&nbsp;&nbsp; Nutrien Ltd. | Chemicals | 81466 | 5943329 |
| &nbsp;&nbsp;&nbsp; Pembina Pipeline Corp. | Oil, Gas & Consumable Fuels | 85974 | 2916244 |
| &nbsp;&nbsp;&nbsp; Power Corp. of Canada | Insurance | 84203 | 1979310 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International Inc. | Hotels, Restaurants & Leisure | 47334 | 3059182 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada | Banks | 219604 | 20632193 |
| &nbsp;&nbsp;&nbsp; Saputo Inc. | Food Products | 37835 | 935997 |
| &nbsp;&nbsp;&nbsp; Shaw Communications Inc. | Media | 66976 | 1928288 |
| &nbsp;&nbsp; <sup>a</sup> Shopify Inc., A | IT Services | 177935 | 6173456 |
| &nbsp;&nbsp;&nbsp; Sun Life Financial Inc. | Insurance | 91770 | 4256795 |
| &nbsp;&nbsp;&nbsp; Suncor Energy Inc. | Oil, Gas & Consumable Fuels | 213808 | 6777411 |
| &nbsp;&nbsp;&nbsp; TC Energy Corp. | Oil, Gas & Consumable Fuels | 158102 | 6298643 |
| &nbsp;&nbsp;&nbsp; Teck Resources Ltd., B | Metals & Mining | 69874 | 2638808 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. | Diversified Telecommunication Services | 74543 | 1437550 |
| &nbsp;&nbsp;&nbsp; Thomson Reuters Corp. | Professional Services | 25438 | 2899851 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank | Banks | 284648 | 18417720 |
| &nbsp;&nbsp;&nbsp; Tourmaline Oil Corp. | Oil, Gas & Consumable Fuels | 44758 | 2256811 |
| &nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. | Metals & Mining | 70679 | 2759452 |
|  |  |  | 232802241 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **United States 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Waste Connections Inc. | Commercial Services & Supplies | 40089 | 5310287 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $262,582,740) 99.6%** |  |  | 238112528 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.4%** |  |  | 952316 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | 239064844 |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,323,087, representing 0.6% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,323,087, representing 0.6% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,323,087, representing 0.6% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,323,087, representing 0.6% of net assets. |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; S&P/TSX 60 Index | Long | 4 | $690741 | 3/16/23 | $(23805) |
| \*As of period end. |  |  |  |  |  |

---

 **Selected Portfolio**<br>**TSX** – Toronto Stock Exchange

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin FTSE China ETF** | **Industry** | &nbsp;&nbsp; **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 99.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **China 95.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 360 DigiTech Inc. | Consumer Finance | 6440 | $131118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 360 Security Technology Inc., A | Software | 28000 | 26467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 37 Interactive Entertainment Network |  |  |  |
| Technology Group Co. Ltd. | Entertainment | 5600 | 14650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3peak Inc., A | Semiconductors & Semiconductor Equipment | 321 | 12778 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> 3SBio Inc., A, 144A | Biotechnology | 70000 | 74440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Addsino Co. Ltd., A | Communications Equipment | 5600 | 7600 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Advanced Micro-Fabrication Equipment Inc. |  |  |  |
| China, A | Semiconductors & Semiconductor Equipment | 2040 | 28898 |
| &nbsp;&nbsp;&nbsp;&nbsp; AECC Aero-Engine Control Co. Ltd., A | Aerospace & Defense | 5600 | 20753 |
| &nbsp;&nbsp;&nbsp;&nbsp; AECC Aviation Power Co. Ltd., A | Aerospace & Defense | 8400 | 51331 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Agile Group Holdings Ltd. | Real Estate Management & Development | 76000 | 22493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd., A | Banks | 327600 | 137785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd., H | Banks | 1540000 | 528793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aier Eye Hospital Group Co. Ltd., A | Health Care Providers & Services | 25241 | 113348 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Air China Ltd., A | Airlines | 19600 | 30028 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Air China Ltd., H | Airlines | 80000 | 71237 |
| <sup>a,b</sup> Akeso Inc., 144A | Biotechnology | 28000 | 154261 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Alibaba Group Holding Ltd., A | Internet & Direct Marketing Retail | 753276 | 8324212 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> A-Living Smart City Services Co. Ltd., H, 144A | Commercial Services & Supplies | 42000 | 50637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aluminum Corp. of China Ltd., A | Metals & Mining | 47600 | 30752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aluminum Corp. of China Ltd., H | Metals & Mining | 168000 | 71462 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Amlogic Shanghai Co. Ltd. | Semiconductors & Semiconductor Equipment | 1456 | 14838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angang Steel Co. Ltd., A | Metals & Mining | 22400 | 8644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angang Steel Co. Ltd., H | Metals & Mining | 74000 | 20195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angel Yeast Co. Ltd., A | Food Products | 2800 | 18300 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Angelalign Technology Inc., 144A | Health Care Equipment & Supplies | 1200 | 18911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Anke Biotechnology Group Co. Ltd., A | Pharmaceuticals | 6716 | 9086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Conch Cement Co. Ltd., A | Construction Materials | 14000 | 55402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Conch Cement Co. Ltd., H | Construction Materials | 59100 | 206719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Expressway Co. Ltd., H | Transportation Infrastructure | 18000 | 14506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Gujing Distillery Co. Ltd., A | Beverages | 1500 | 57864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Gujing Distillery Co. Ltd., B | Beverages | 6100 | 97694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anhui Zhongding Sealing Parts Co. Ltd., A | Auto Components | 5600 | 11712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anjoy Foods Group Co. Ltd., A | Food Products | 1100 | 25737 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANTA Sports Products Ltd., A | Textiles, Apparel & Luxury Goods | 57020 | 747365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apeloa Pharmaceutical Co. Ltd., A | Pharmaceuticals | 2800 | 8717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asymchem Laboratories Tianjin Co. Ltd., A | Pharmaceuticals | 700 | 14974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Autohome Inc., ADR | Software | 2968 | 90821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avary Holding Shenzhen Co. Ltd., A | Electronic Equipment, Instruments & Components | 2800 | 11105 |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIC Electromechanical Systems Co. Ltd., A | Aerospace & Defense | 14000 | 20336 |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIC Industry-Finance Holdings Co. Ltd., A | Diversified Financial Services | 36400 | 17256 |
| &nbsp;&nbsp;&nbsp;&nbsp; AviChina Industry & Technology Co. Ltd., H | Aerospace & Defense | 112000 | 50368 |
| &nbsp;&nbsp;&nbsp;&nbsp; AVICOPTER PLC, A | Aerospace & Defense | 2800 | 18782 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> BAIC Motor Corp. Ltd., A, 144A | Automobiles | 112000 | 29704 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Baidu Inc. | Interactive Media & Services | 112038 | 1603424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Beijing Co. Ltd., A | Banks | 70000 | 43605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Changsha Co. Ltd., A | Banks | 14000 | 13679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Chengdu Co. Ltd., A | Banks | 5600 | 12384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of China Ltd., A | Banks | 159600 | 72893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of China Ltd., H | Banks | 3808000 | 1385623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Communications Co. Ltd., A | Banks | 131600 | 90157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Communications Co. Ltd., H | Banks | 364000 | 209400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Guiyang Co. Ltd., A | Banks | 14000 | 11109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Hangzhou Co. Ltd., A | Banks | 19600 | 37054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Jiangsu Co. Ltd., A | Banks | 20400 | 21494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nanjing Co. Ltd., A | Banks | 36400 | 54819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ningbo Co. Ltd., A | Banks | 22420 | 105152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Qingdao Co. Ltd., A | Banks | 16800 | 8159 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Shanghai Co. Ltd., A | Banks | 47600 | 40659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Suzhou Co. Ltd., A | Banks | 6120 | 6882 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Bank of Zhengzhou Co. Ltd., A | Banks | 21280 | 7228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baoshan Iron & Steel Co. Ltd., A | Metals & Mining | 67200 | 54293 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBMG Corp., A | Construction Materials | 36400 | 13363 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBMG Corp., H | Construction Materials | 112000 | 14493 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> BeiGene Ltd. | Biotechnology | 30800 | 529582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Capital Development Co. Ltd., A | Real Estate Management & Development | 8400 | 6908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Capital Eco-Environment Protection |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group Co. Ltd., A | Water Utilities | 28000 | 11453 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Beijing Capital International Airport Co. Ltd., A | Transportation Infrastructure | 112000 | 81938 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Beijing Dabeinong Technology Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Food Products | 14000 | 18009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Easpring Material Technology Co. Ltd. | Chemicals | 2800 | 22825 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Beijing E-Hualu Information Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Software | 2800 | 8260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Enlight Media Co. Ltd., H | Entertainment | 11200 | 14018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Enterprises Holdings Ltd., H | Industrial Conglomerates | 28000 | 89687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Haixin Energy Technology Co. Ltd., A | Chemicals | 9600 | 6050 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Beijing Jetsen Technology Co. Ltd., A | Software | 8400 | 5427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Jingneng Clean Energy Co. Ltd., H | Independent Power Producers & Energy Traders | 56000 | 13202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Kingsoft Office Software Inc., A | Software | 1560 | 59635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing New Building Materials PLC, A | Building Products | 5600 | 20947 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Beijing Orient National Communication Science |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; & Technology Co. Ltd., A | Software | 5600 | 6467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Originwater Technology Co. Ltd., H | Commercial Services & Supplies | 14035 | 9595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shiji Information Technology Co. Ltd., A | Software | 6280 | 13606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shougang Co. Ltd., A | Metals & Mining | 28000 | 15257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Shunxin Agriculture Co. Ltd., A | Beverages | 2800 | 12068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Sinnet Technology Co. Ltd., A | IT Services | 5800 | 6840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Tongrentang Co. Ltd., A | Pharmaceuticals | 5600 | 36163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Ultrapower Software Co. Ltd., A | IT Services | 8400 | 5269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing United Information Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Trading Companies & Distributors | 1740 | 22241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Wantai Biological Pharmacy Enterprise |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Biotechnology | 1015 | 18587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Yanjing Brewery Co. Ltd., A | Beverages | 11200 | 17191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Yuanliu Hongyuan Electronic Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Electronic Equipment, Instruments & Components | 800 | 11697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Zhong Ke San Huan High-Tech Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 3160 | 6230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bethel Automotive Safety Systems Co. Ltd., A | Auto Components | 1600 | 18454 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Bilibili Inc. | Entertainment | 11200 | 268056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bloomage Biotechnology Corp. Ltd., A | Biotechnology | 1118 | 21860 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Blue Moon Group Holdings Ltd., 144A | Household Products | 42000 | 28197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bluefocus Intelligent Communications Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Media | 11200 | 8175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bluestar Adisseo Co., A | Chemicals | 2800 | 3343 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOC International China Co. Ltd., A | Capital Markets | 2800 | 4278 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 134400 | 65657 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., B | Electronic Equipment, Instruments & Components | 33600 | 14809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bright Dairy & Food Co. Ltd., A | Food Products | 5600 | 8709 |
| &nbsp;&nbsp;&nbsp;&nbsp; BTG Hotels Group Co. Ltd., A | Hotels, Restaurants & Leisure | 2800 | 10036 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd., A | Automobiles | 6600 | 245128 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd., H | Automobiles | 41746 | 1030151 |
| &nbsp;&nbsp;&nbsp;&nbsp; BYD Electronic International Co. Ltd. | Communications Equipment | 38500 | 123812 |
| &nbsp;&nbsp;&nbsp;&nbsp; By-health Co. Ltd., A | Personal Products | 5600 | 18470 |
| &nbsp;&nbsp;&nbsp;&nbsp; C&S Paper Co. Ltd., A | Household Products | 5600 | 11121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caida Securities Co. Ltd., A | Capital Markets | 5600 | 6127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caitong Securities Co. Ltd., A | Capital Markets | 16860 | 17350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camel Group Co. Ltd., A | Electrical Equipment | 5600 | 6605 |
| &nbsp;&nbsp;&nbsp;&nbsp; CanSino Biologics Inc., A | Pharmaceuticals | 240 | 5065 |
| <sup>a,c</sup> CanSino Biologics Inc., H, 144A | Pharmaceuticals | 4800 | 41051 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> CECEP Solar Energy Co. Ltd., H | Semiconductors & Semiconductor Equipment | 16800 | 17798 |
| &nbsp;&nbsp;&nbsp;&nbsp; CECEP Wind-Power Corp., A | Independent Power Producers & Energy Traders | 25480 | 14031 |

---

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Central China Securities Co. Ltd., A | Capital Markets | 11200.0 | 5892 |
| &nbsp;&nbsp;&nbsp; Central China Securities Co. Ltd., H | Capital Markets | 56000.0 | 8108.0 |
| &nbsp;&nbsp;&nbsp; CGN Power Co. Ltd., A | Independent Power Producers & Energy Traders | 30800.0 | 11975.0 |
| &nbsp;&nbsp; <sup>a</sup> CGN Power Co. Ltd., H, 144A | Independent Power Producers & Energy Traders | 560000.0 | 133454.0 |
| &nbsp;&nbsp;&nbsp; Changchun High & New Technology Industry |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group Inc., A | Pharmaceuticals | 1500.0 | 36086.0 |
| &nbsp;&nbsp;&nbsp; Changjiang Securities Co. Ltd., A | Capital Markets | 22400.0 | 17256.0 |
| &nbsp;&nbsp;&nbsp; Changzhou Xingyu Automotive Lighting |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Systems Co. Ltd., A | Auto Components | 1000.0 | 18409.0 |
| &nbsp;&nbsp;&nbsp; Chaozhou Three-Circle Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 5600.0 | 24856.0 |
| &nbsp;&nbsp;&nbsp; Chengdu Xingrong Environment Co. Ltd., A | Water Utilities | 11200.0 | 7916.0 |
| &nbsp;&nbsp;&nbsp; Chengxin Lithium Group Co. Ltd., A | Paper & Forest Products | 2800.0 | 15172.0 |
| &nbsp;&nbsp;&nbsp; China Baoan Group Co. Ltd., A | Industrial Conglomerates | 8400.0 | 14678.0 |
| &nbsp;&nbsp;&nbsp; China Cinda Asset Management Co. Ltd., H | Capital Markets | 448000.0 | 61991.0 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., A | Banks | 36400.0 | 26200.0 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp. Ltd., H | Banks | 476000.0 | 211015.0 |
| &nbsp;&nbsp;&nbsp; China Coal Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 16800.0 | 20931.0 |
| &nbsp;&nbsp;&nbsp; China Coal Energy Co. Ltd., H | Oil, Gas & Consumable Fuels | 112000.0 | 91122.0 |
| &nbsp;&nbsp;&nbsp; China Communications Services Corp. Ltd., H | Diversified Telecommunication Services | 122000.0 | 44549.0 |
| &nbsp;&nbsp; <sup>b</sup> China Conch Environment Protection Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Commercial Services & Supplies | 69120.0 | 28073.0 |
| &nbsp;&nbsp;&nbsp; China Conch Venture Holdings Ltd. | Construction & Engineering | 74620.0 | 162148.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., A | Banks | 30800.0 | 25063.0 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., H | Banks | 4676000.0 | 2929633.0 |
| &nbsp;&nbsp;&nbsp; China CSSC Holdings Ltd., A | Machinery | 14000.0 | 45083.0 |
| <sup>a,c</sup> China East Education Holdings Ltd., A, 144A | Diversified Consumer Services | 14000.0 | 11175.0 |
| &nbsp;&nbsp; <sup>b</sup> China Eastern Airlines Corp. Ltd., A | Airlines | 42000.0 | 33569.0 |
| &nbsp;&nbsp; <sup>b</sup> China Eastern Airlines Corp. Ltd., H | Airlines | 56000.0 | 22745.0 |
| &nbsp;&nbsp;&nbsp; China Energy Engineering Corp. Ltd. | Construction & Engineering | 120400.0 | 39850.0 |
| &nbsp;&nbsp;&nbsp; China Energy Engineering Corp. Ltd., H | Construction & Engineering | 224000.0 | 26117.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., A | Banks | 162400.0 | 72059.0 |
| &nbsp;&nbsp;&nbsp; China Everbright Bank Co. Ltd., H | Banks | 168000.0 | 51229.0 |
| <sup>b,d</sup> China Evergrande Group, A | Real Estate Management & Development | 182000.0 | 17505.0 |
| <sup>a,c</sup> China Feihe Ltd., 144A, Reg S | Food Products | 196000.0 | 166745.0 |
| &nbsp;&nbsp;&nbsp; China Galaxy Securities Co. Ltd., A | Capital Markets | 8400.0 | 11279.0 |
| &nbsp;&nbsp;&nbsp; China Galaxy Securities Co. Ltd., H | Capital Markets | 182000.0 | 88844.0 |
| &nbsp;&nbsp;&nbsp; China Great Wall Securities Co. Ltd., A | Capital Markets | 14000.0 | 16754.0 |
| &nbsp;&nbsp;&nbsp; China Greatwall Technology Group Co. Ltd., A | Technology Hardware, Storage & Peripherals | 11200.0 | 16511.0 |
| &nbsp;&nbsp;&nbsp; China Green Electricity Investment of Tianjin |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Real Estate Management & Development | 5600.0 | 10708.0 |
| &nbsp;&nbsp;&nbsp; China Hongqiao Group Ltd. | Metals & Mining | 112000.0 | 105759.0 |
| &nbsp;&nbsp;&nbsp; China International Capital Corp. Ltd., A | Capital Markets | 2800.0 | 15431.0 |
| &nbsp;&nbsp; <sup>a</sup> China International Capital Corp. Ltd., H, 144A | Capital Markets | 78400.0 | 149669.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Machinery | 8850.0 | 9005.0 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., H | Machinery | 36400.0 | 27609.0 |
| &nbsp;&nbsp;&nbsp; China Jinmao Holdings Group Ltd., A | Real Estate Management & Development | 336000.0 | 72323.0 |
| &nbsp;&nbsp;&nbsp; China Jushi Co. Ltd., A | Construction Materials | 15287.0 | 30292.0 |
| &nbsp;&nbsp;&nbsp; China Lesso Group Holdings Ltd. | Building Products | 56000.0 | 58476.0 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co. Ltd., H | Insurance | 364000.0 | 624937.0 |
| <sup>a,b</sup> China Literature Ltd., A, 144A | Media | 22400.0 | 86960.0 |
| &nbsp;&nbsp;&nbsp; China Longyuan Power Group Corp. Ltd., A | Independent Power Producers & Energy Traders | 168000.0 | 205347.0 |
| &nbsp;&nbsp;&nbsp; China Medical System Holdings Ltd. | Pharmaceuticals | 63000.0 | 99122.0 |
| &nbsp;&nbsp;&nbsp; China Meheco Co. Ltd., A | Trading Companies & Distributors | 5640.0 | 14045.0 |
| &nbsp;&nbsp;&nbsp; China Meidong Auto Holdings Ltd. | Specialty Retail | 22000.0 | 45156.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., A | Banks | 72800.0 | 392049.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co. Ltd., H | Banks | 189500.0 | 1059799.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Energy Shipping Co. Ltd., A | Oil, Gas & Consumable Fuels | 28000.0 | 22622.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Expressway Network & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Holdings Co. Ltd., A | Transportation Infrastructure | 5600.0 | 6289.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Port Holdings Co. Ltd. | Transportation Infrastructure | 74640.0 | 109403.0 |
| &nbsp;&nbsp;&nbsp; China Merchants Property Operation & Service |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Real Estate Management & Development | 2800.0 | 6224.0 |
| &nbsp;&nbsp; <sup>a</sup> China Merchants Securities Co. Ltd., A, 144A | Capital Markets | 22400.0 | 21955.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Securities Co. Ltd., A | Capital Markets | 25200 | 48442 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Merchants Shekou Industrial Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holdings Co. Ltd., A | Real Estate Management & Development | 25200 | 46001 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., A | Banks | 117600 | 58640 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., H | Banks | 322000 | 111391 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Accord Medicines Corp. Ltd., B | Health Care Providers & Services | 2800 | 6561 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., H | Construction Materials | 224000 | 183965 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Chemical Engineering Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Construction & Engineering | 22400 | 25706 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Nuclear Power Co. Ltd., A | Independent Power Producers & Energy Traders | 61600 | 53419 |
| &nbsp;&nbsp;&nbsp;&nbsp; China National Software & Service Co. Ltd., A | Software | 2800 | 23606 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Northern Rare Earth Group High-Tech |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Metals & Mining | 14000 | 50688 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Oilfield Services Ltd., A | Energy Equipment & Services | 5600 | 13420 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Oilfield Services Ltd., H | Energy Equipment & Services | 90000 | 109431 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Overseas Land & Investment Ltd., A | Real Estate Management & Development | 196000 | 517313 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., A | Insurance | 22400 | 79384 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co. Ltd., H | Insurance | 128800 | 286811 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., A | Oil, Gas & Consumable Fuels | 123200 | 77636 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., H | Oil, Gas & Consumable Fuels | 1288000 | 622138 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Group Ltd., A | Construction & Engineering | 70000 | 56252 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Group Ltd., H | Construction & Engineering | 196000 | 103463 |
| <sup>a,c</sup> China Railway Signal & Communication Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., 144A | Electronic Equipment, Instruments & Components | 84000 | 27444 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Railway Signal & Communication Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 24248 | 16787 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> China Rare Earth Resources And Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Metals & Mining | 2800 | 13306 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Reinsurance Group Corp., H | Insurance | 336000 | 21310 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Boya Bio-pharmaceutical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group Co. Ltd., A | Biotechnology | 2800 | 14796 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Cement Holdings Ltd. | Construction Materials | 112000 | 59408 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Double Crane Pharmaceutical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Pharmaceuticals | 5600 | 14480 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Microelectronics Ltd., A | Semiconductors & Semiconductor Equipment | 3432 | 26116 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> China Resources Mixc Lifestyle Services Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Real Estate Management & Development | 28000 | 142243 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> China Resources Pharmaceutical Group Ltd., A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Pharmaceuticals | 84000 | 68018 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Power Holdings Co. Ltd. | Independent Power Producers & Energy Traders | 98600 | 201623 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Sanjiu Medical & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceutical Co. Ltd., B | Pharmaceuticals | 2800 | 18944 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> China Ruyi Holdings Ltd. | Internet & Catalog Retail | 112000 | 27982 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 25200 | 100598 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., H | Oil, Gas & Consumable Fuels | 168821 | 487756 |
| &nbsp;&nbsp;&nbsp;&nbsp; China South Publishing & Media Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Media | 8400 | 12116 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> China Southern Airlines Co. Ltd., A | Airlines | 42000 | 46135 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> China Southern Airlines Co. Ltd., H | Airlines | 76000 | 49466 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Southern Power Grid Energy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Efficiency&Clean Energy Co. Ltd., A | Commercial Services & Supplies | 11200 | 9178 |
| &nbsp;&nbsp;&nbsp;&nbsp; China State Construction Engineering Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Construction & Engineering | 148400 | 116466 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Suntien Green Energy Corp. Ltd. | Oil, Gas & Consumable Fuels | 84000 | 34978 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Taiping Insurance Holdings Co. Ltd. | Insurance | 72800 | 90662 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Three Gorges Renewables Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 86800 | 70882 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Tourism Group Duty Free Corp. Ltd., A | Hotels, Restaurants & Leisure | 6900 | 215441 |
| <sup>a,c</sup> China Tower Corp. Ltd., H, 144A, Reg S | Diversified Telecommunication Services | 2352000 | 253132 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> China TransInfo Technology Co. Ltd., A | IT Services | 2800 | 3610 |
| &nbsp;&nbsp;&nbsp;&nbsp; China United Network Communications Ltd., A | Wireless Telecommunication Services | 95200 | 61643 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Vanke Co. Ltd., A | Real Estate Management & Development | 33600 | 88385 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Vanke Co. Ltd., H | Real Estate Management & Development | 95200 | 192719 |
| &nbsp;&nbsp;&nbsp;&nbsp; China World Trade Center Co. Ltd., A | Real Estate Management & Development | 2800 | 6406 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Yangtze Power Co. Ltd., A | Independent Power Producers & Energy Traders | 78400 | 237959 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| China Zhenhua Group Science & Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Electronic Equipment, Instruments & Components | 1800.0 | 29718.0 |
| <sup>b</sup> China Zheshang Bank Co. Ltd., A | Banks | 28000.0 | 11898.0 |
| Chinalin Securities Co. Ltd., A | Capital Markets | 2800.0 | 5334.0 |
| Chinese Universe Publishing and Media Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Media | 5600.0 | 7746.0 |
| Chongqing Brewery Co. Ltd., A | Beverages | 1700.0 | 31298.0 |
| Chongqing Changan Automobile Co. Ltd., A | Automobiles | 29144.0 | 51853.0 |
| Chongqing Changan Automobile Co. Ltd., B | Automobiles | 78972.0 | 37235.0 |
| Chongqing Fuling Zhacai Group Co. Ltd., A | Food Products | 2800.0 | 10429.0 |
| Chongqing Rural Commercial Bank Co. Ltd., A | Banks | 16800.0 | 8571.0 |
| Chongqing Rural Commercial Bank Co. Ltd., H | Banks | 112000.0 | 38314.0 |
| Chongqing Water Group Co. Ltd., A | Water Utilities | 8400.0 | 6228.0 |
| Chongqing Zhifei Biological Products Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., B | Biotechnology | 5600.0 | 71088.0 |
| CIFI Holdings Group Co. Ltd., A | Real Estate Management & Development | 202320.0 | 28514.0 |
| CITIC Ltd., B | Industrial Conglomerates | 252000.0 | 266047.0 |
| Citic Pacific Special Steel Group Co. Ltd., A | Metals & Mining | 17680.0 | 43850.0 |
| CITIC Securities Co. Ltd., A | Capital Markets | 42000.0 | 120861.0 |
| CITIC Securities Co. Ltd., H | Capital Markets | 112200.0 | 226845.0 |
| CMOC Group Ltd., A | Metals & Mining | 36400.0 | 23937.0 |
| CMOC Group Ltd., H | Metals & Mining | 207000.0 | 95478.0 |
| CMST Development Co. Ltd., A | Air Freight & Logistics | 8400.0 | 6034.0 |
| CNOOC Energy Technology & Services Ltd., A | Energy Equipment & Services | 19600.0 | 8159.0 |
| CNPC Capital Co. Ltd., A | Machinery | 16800.0 | 13525.0 |
| <sup>b</sup> Contemporary Amperex Technology Co. Ltd., H | Electrical Equipment | 8600.0 | 489014.0 |
| COSCO SHIPPING Development Co. Ltd., A | Marine | 39200.0 | 13711.0 |
| COSCO SHIPPING Development Co. Ltd., H | Marine | 168000.0 | 22386.0 |
| <sup>b</sup> COSCO SHIPPING Energy Transportation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Marine | 11200.0 | 19506.0 |
| <sup>b</sup> COSCO SHIPPING Energy Transportation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Marine | 64000.0 | 49036.0 |
| COSCO SHIPPING Holdings Co. Ltd., A | Marine | 43980.0 | 65409.0 |
| COSCO SHIPPING Holdings Co. Ltd., B | Marine | 168000.0 | 171337.0 |
| Country Garden Holdings Co. Ltd. | Real Estate Management & Development | 476000.0 | 162835.0 |
| Country Garden Services Holdings Co. Ltd. | Commercial Services & Supplies | 103600.0 | 258039.0 |
| CRRC Corp. Ltd., A | Machinery | 86800.0 | 64107.0 |
| CRRC Corp. Ltd., H | Machinery | 196000.0 | 79104.0 |
| <sup>a</sup> CSC Financial Co. Ltd., A, 144A | Capital Markets | 42000.0 | 36754.0 |
| CSC Financial Co. Ltd., A | Capital Markets | 19600.0 | 67280.0 |
| CSG Holding Co. Ltd. | Construction Materials | 58800.0 | 22526.0 |
| CSG Holding Co. Ltd., A | Construction Materials | 5600.0 | 5431.0 |
| CSPC Pharmaceutical Group Ltd., A | Pharmaceuticals | 392000.0 | 411841.0 |
| Daan Gene Co. Ltd. | Biotechnology | 6840.0 | 15383.0 |
| <sup>b</sup> Dada Nexus Ltd., A, ADR | Internet & Catalog Retail | 3640.0 | 25371.0 |
| <sup>a</sup> Dali Foods Group Co. Ltd., 144A | Food Products | 98000.0 | 44700.0 |
| Daqin Railway Co. Ltd., A | Road & Rail | 50400.0 | 48660.0 |
| <sup>b</sup> Daqo New Energy Corp. | Semiconductors & Semiconductor Equipment | 2744.0 | 105946.0 |
| DaShenLin Pharmaceutical Group Co. Ltd., A | Food & Staples Retailing | 1152.0 | 6593.0 |
| <sup>b</sup> Datang International Power Generation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 25200.0 | 10162.0 |
| <sup>b</sup> Datang International Power Generation Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Independent Power Producers & Energy Traders | 168000.0 | 27336.0 |
| DHC Software Co. Ltd., A | IT Services | 11200.0 | 9162.0 |
| Dian Diagnostics Group Co. Ltd., A | Health Care Providers & Services | 2800.0 | 10170.0 |
| Do-Fluoride New Materials Co. Ltd., A | Chemicals | 2800.0 | 13484.0 |
| Dong-E-E-Jiao Co. Ltd., A | Pharmaceuticals | 2800.0 | 16471.0 |
| Dongfang Electric Corp. Ltd., A | Electrical Equipment | 8400.0 | 25520.0 |
| Dongfang Electric Corp. Ltd., H | Electrical Equipment | 16800.0 | 28585.0 |
| Dongfeng Motor Group Co. Ltd., H | Automobiles | 148600.0 | 85296.0 |
| Dongxing Securities Co. Ltd., A | Capital Markets | 11200.0 | 12497.0 |
| East Group Co. Ltd., A | Electrical Equipment | 8400.0 | 8292.0 |
| East Money Information Co. Ltd. | Capital Markets | 46880.0 | 131448.0 |
| Eastern Air Logistics Co. Ltd., A | Air Freight & Logistics | 5600.0 | 12351.0 |
| Ecovacs Robotics Co. Ltd., A | Household Durables | 1700.0 | 17922.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd. | Gas Utilities | 36900 | 518163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ENN Natural Gas Co. Ltd., A | Chemicals | 11200 | 26062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eternal Asia Supply Chain Management Ltd., A | Commercial Services & Supplies | 11200 | 10409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eve Energy Co. Ltd. | Electrical Equipment | 6600 | 83849 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Everbright Securities Co. Ltd., 144A | Capital Markets | 11200 | 7519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everbright Securities Co. Ltd., A | Capital Markets | 14000 | 30089 |
| <sup>a,b,d,e</sup> Evergrande Property Services Group Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Real Estate Management & Development | 221000 | 28587 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Fangda Carbon New Material Co. Ltd. | Electrical Equipment | 14000 | 12384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Far East Horizon Ltd. | Diversified Financial Services | 56000 | 43767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FAW Jiefang Group Co. Ltd. | Automobiles | 5600 | 6257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fiberhome Telecommunication Technologies |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., A | Communications Equipment | 5600 | 10635 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> FIH Mobile Ltd. | Electronic Equipment, Instruments & Components | 140000 | 15067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Street Holdings Co. Ltd., A | Real Estate Management & Development | 11200 | 8499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Capital Securities Co. Ltd. | Capital Markets | 16800 | 13670 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Flat Glass Group Co. Ltd., A | Semiconductors & Semiconductor Equipment | 2800 | 13480 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Flat Glass Group Co. Ltd., H | Semiconductors & Semiconductor Equipment | 28000 | 67731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Focus Media Information Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 53200 | 51363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foshan Haitian Flavouring & Food Co. Ltd. | Food Products | 14561 | 167521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fosun International Ltd. | Industrial Conglomerates | 112000 | 91265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co. Ltd., A | Electronic Equipment, Instruments & Components | 44800 | 59441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fujian Funeng Co. Ltd., A | Independent Power Producers & Energy Traders | 5600 | 8563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fujian Sunner Development Co. Ltd. | Food Products | 2800 | 9587 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Full Truck Alliance Co. Ltd. | Road & Rail | 32060 | 256480 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Fuyao Glass Industry Group Co. Ltd., 144A | Auto Components | 33600 | 140987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., A | Auto Components | 5600 | 28385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ganfeng Lithium Group Co. Ltd. | Metals & Mining | 5860 | 58872 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Ganfeng Lithium Group Co. Ltd., H, 144A | Metals & Mining | 16360 | 122203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; G-bits Network Technology Xiamen Co. Ltd., A | Entertainment | 200 | 9043 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> GCL System Integration Technology Co. Ltd. | Semiconductors & Semiconductor Equipment | 22400 | 9421 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> GD Power Development Co. Ltd., A | Independent Power Producers & Energy Traders | 67200 | 41473 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> GDS Holdings Ltd. | IT Services | 44800 | 117669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GEM Co. Ltd. | Metals & Mining | 19600 | 21048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gemdale Corp., A | Real Estate Management & Development | 16800 | 24840 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Genscript Biotech Corp. | Life Sciences Tools & Services | 49538 | 157723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GF Securities Co. Ltd. | Capital Markets | 19600 | 43881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GF Securities Co. Ltd., H | Capital Markets | 56000 | 80503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GigaDevice Semiconductor Inc., A | Semiconductors & Semiconductor Equipment | 2248 | 33293 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Ginlong Technologies Co. Ltd., A | Electrical Equipment | 1350 | 35131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glarun Technology Co. Ltd., A | Communications Equipment | 5600 | 13719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoerTek Inc. | Electronic Equipment, Instruments & Components | 11200 | 27244 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> GOME Retail Holdings Ltd. | Specialty Retail | 644000 | 9076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoodWe Technologies Co. Ltd., A | Electrical Equipment | 364 | 16998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gotion High-tech Co. Ltd. | Electrical Equipment | 5600 | 23334 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Grandjoy Holdings Group Co. Ltd., A | Real Estate Management & Development | 16800 | 9130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Wall Motor Co. Ltd., A | Automobiles | 8400 | 35961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Wall Motor Co. Ltd., H | Automobiles | 154000 | 200468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greentown China Holdings Ltd. | Real Estate Management & Development | 42000 | 61346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GRG Banking Equipment Co. Ltd. | Technology Hardware, Storage & Peripherals | 8400 | 12068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Baolihua New Energy Stock Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Independent Power Producers & Energy Traders | 8400 | 7891 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Guangdong Electric Power Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Independent Power Producers & Energy Traders | 8400 | 6738 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Guangdong Electric Power Development Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., B | Independent Power Producers & Energy Traders | 44800 | 12054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Golden Dragon Development Inc. | Capital Markets | 2800 | 5237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Haid Group Co. Ltd. | Food Products | 5800 | 51748 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Guangdong HEC Technology Holding Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 11200 | 14067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Kinlong Hardware Products Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Building Products | 700 | 10517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Xinbao Electrical Appliances |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holdings Co. Ltd. | Household Durables | 2800 | 6738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guanghui Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 22400 | 29203 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Guangshen Railway Co. Ltd., A | Road & Rail | 14000.0 | 4593 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Guangshen Railway Co. Ltd., H | Road & Rail | 56000.0 | 10332.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangxi Guiguan Electric Power Co. Ltd., A | Independent Power Producers & Energy Traders | 14000.0 | 11655.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangxi Liugong Machinery Co. Ltd. | Machinery | 5600.0 | 4759.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Automobile Group Co. Ltd., A | Automobiles | 11200.0 | 17855.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Automobile Group Co. Ltd., H | Automobiles | 158000.0 | 106481.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Baiyunshan Pharmaceutical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holdings Co. Ltd. | Pharmaceuticals | 10200.0 | 30058.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Baiyunshan Pharmaceutical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holdings Co. Ltd., A | Pharmaceuticals | 5600.0 | 24112.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Haige Communications Group Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. | Communications Equipment | 8400.0 | 9858.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Kingmed Diagnostics Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Health Care Providers & Services | 2800.0 | 31647.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Shiyuan Electronic Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 700.0 | 5973.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Tinci Materials Technology Co. Ltd. | Chemicals | 7260.0 | 46023.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Wondfo Biotech Co. Ltd., A | Health Care Equipment & Supplies | 1300.0 | 5988.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Yuexiu Capital Holdings Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Capital Markets | 9793.0 | 8478.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangzhou Zhujiang Brewery Co. Ltd. | Beverages | 5600.0 | 6483.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Guizhou Bailing Group Pharmaceutical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 5600.0 | 6605.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guizhou Panjiang Refined Coal Co. Ltd., A | Oil, Gas & Consumable Fuels | 5600.0 | 5439.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guizhou Xinbang Pharmaceutical Co. Ltd. | Pharmaceuticals | 8400.0 | 5706.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guolian Securities Co. Ltd., A | Capital Markets | 8400.0 | 13658.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guosen Securities Co. Ltd. | Capital Markets | 19600.0 | 25156.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Guosheng Financial Holding Inc. | Electrical Equipment | 8400.0 | 8996.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Guotai Junan Securities Co. Ltd., 144A | Capital Markets | 39200.0 | 44147.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guotai Junan Securities Co. Ltd., A | Capital Markets | 25200.0 | 49498.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guoyuan Securities Co. Ltd. | Capital Markets | 16800.0 | 15370.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; H World Group Ltd., ADR | Hotels, Restaurants & Leisure | 10892.0 | 462039.0 |
| <sup>a,b,c</sup> Haidilao International Holding Ltd., 144A | Hotels, Restaurants & Leisure | 56000.0 | 160719.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., A | Household Durables | 22400.0 | 79190.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haier Smart Home Co. Ltd., H | Household Durables | 117600.0 | 400792.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haitian International Holdings Ltd. | Machinery | 29000.0 | 77656.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haitong Securities Co. Ltd., A | Capital Markets | 33600.0 | 42201.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haitong Securities Co. Ltd., H | Capital Markets | 168000.0 | 103319.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Hang Zhou Great Star Industrial Co. Ltd. | Household Durables | 2800.0 | 7681.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Binjiang Real Estate Group Co. Ltd. | Real Estate Management & Development | 11200.0 | 14294.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Chang Chuan Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Semiconductors & Semiconductor Equipment | 2800.0 | 18041.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou First Applied Material Co. Ltd., A | Semiconductors & Semiconductor Equipment | 2440.0 | 23431.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Lion Electronics Co. Ltd., A | Semiconductors & Semiconductor Equipment | 2800.0 | 17240.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Oxygen Plant Group Co. Ltd. | Machinery | 2800.0 | 15929.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Robam Appliances Co. Ltd., A | Household Durables | 2800.0 | 11234.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Silan Microelectronics Co. Ltd., A | Semiconductors & Semiconductor Equipment | 5600.0 | 26540.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hangzhou Tigermed Consulting Co. Ltd. | Life Sciences Tools & Services | 2800.0 | 42412.0 |
| <sup>a,c</sup> Hangzhou Tigermed Consulting Co. Ltd., A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Life Sciences Tools & Services | 6700.0 | 77430.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Han's Laser Technology Industry Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 2800.0 | 10380.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Hansoh Pharmaceutical Group Co. Ltd., 144A | Pharmaceuticals | 56000.0 | 106476.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haohua Chemical Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 2800.0 | 17365.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harbin Boshi Automation Co. Ltd. | Machinery | 2800.0 | 5670.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hefei Meiya Optoelectronic Technology Inc. | Machinery | 3580.0 | 12367.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heilongjiang Agriculture Co. Ltd., A | Food Products | 5600.0 | 11137.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Henan Shuanghui Investment & Development |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Food Products | 11200.0 | 41975.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hengan International Group Co. Ltd. | Personal Products | 34500.0 | 183220.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hengdian Group DMEGC Magnetics Co. Ltd. | Electronic Equipment, Instruments & Components | 5600.0 | 15168.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hengli Petrochemical Co. Ltd., A | Chemicals | 11200.0 | 25139.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hengtong Optic-electric Co. Ltd. | Communications Equipment | 8400.0 | 18284.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hengyi Petrochemical Co. Ltd., A | Chemicals | 14000.0 | 14225.0 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hesteel Co. Ltd. | Metals & Mining | 39200 | 12804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hithink RoyalFlush Information Network Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Capital Markets | 2800 | 39907 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Holitech Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 11200 | 4128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hongfa Technology Co. Ltd., A | Electrical Equipment | 1040 | 5022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hopson Development Holdings Ltd. | Real Estate Management & Development | 41628 | 40962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hoshine Silicon Industry Co. Ltd., A | Chemicals | 2800 | 33565 |
| &nbsp;&nbsp; <sup>a,b</sup> Hua Hong Semiconductor Ltd., 144A | Semiconductors & Semiconductor Equipment | 20000 | 69827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., A | Independent Power Producers & Energy Traders | 25200 | 21416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadian Power International Corp. Ltd., H | Independent Power Producers & Energy Traders | 56000 | 23175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huadong Medicine Co. Ltd., A | Health Care Providers & Services | 5600 | 37879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huafon Chemical Co. Ltd. | Chemicals | 14000 | 13760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huagong Tech Co. Ltd. | Electronic Equipment, Instruments & Components | 2800 | 6641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaibei Mining Holdings Co. Ltd., A | Metals & Mining | 8400 | 15540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hualan Biological Engineering Inc. | Biotechnology | 6260 | 20475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaneng Lancang River Hydropower Inc., A | Independent Power Producers & Energy Traders | 22400 | 21368 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Huaneng Power International Inc., A | Independent Power Producers & Energy Traders | 22400 | 24638 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Huaneng Power International Inc., H | Independent Power Producers & Energy Traders | 224000 | 105902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huapont Life Sciences Co. Ltd. | Chemicals | 5600 | 4128 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Huatai Securities Co. Ltd., 144A | Capital Markets | 78400 | 89701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huatai Securities Co. Ltd., A | Capital Markets | 25200 | 46402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxi Securities Co. Ltd. | Capital Markets | 8400 | 9142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxia Bank Co. Ltd., A | Banks | 58800 | 44107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., H | Construction Materials | 12400 | 13822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huaxin Cement Co. Ltd., A | Construction Materials | 5600 | 11995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huayu Automotive Systems Co. Ltd. | Auto Components | 11200 | 28053 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Biocause Pharmaceutical Co. Ltd. | Insurance | 14000 | 6394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Energy Group Co. Ltd. | Independent Power Producers & Energy Traders | 25200 | 15297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubei Xingfa Chemicals Group Co. Ltd., A | Chemicals | 2800 | 11736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huizhou Desay Sv Automotive Co. Ltd. | Household Durables | 1700 | 25883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humanwell Healthcare Group Co. Ltd., A | Pharmaceuticals | 5600 | 19336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hunan Gold Corp. Ltd. | Metals & Mining | 5600 | 10482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hunan Valin Steel Co. Ltd., A | Metals & Mining | 25200 | 17118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hundsun Technologies Inc., A | Software | 6706 | 39215 |
| &nbsp;&nbsp; <sup>a,b</sup> Hygeia Healthcare Holdings Co. Ltd., 144A | Health Care Providers & Services | 16800 | 120539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iflytek Co. Ltd. | Software | 8400 | 39858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Imeik Technology Development Co. Ltd., A | Biotechnology | 600 | 49114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd. | Banks | 268800 | 168611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd., H | Banks | 3948000 | 2033448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Bank Co. Ltd., A | Banks | 72800 | 185082 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Industrial Securities Co. Ltd., A | Capital Markets | 32690 | 27120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingenic Semiconductor Co. Ltd., A | Semiconductors & Semiconductor Equipment | 1300 | 13235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inmyshow Digital Technology Group Co. Ltd. | Media | 5600 | 5455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia BaoTou Steel Union Co. Ltd., A | Metals & Mining | 134400 | 37296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Dian Tou Energy Corp. Ltd. | Oil, Gas & Consumable Fuels | 2800 | 4994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia ERDOS Resources Co. Ltd. | Metals & Mining | 5600 | 12295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia ERDOS Resources Co. Ltd., B | Metals & Mining | 19600 | 31928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Junzheng Energy & Chemical |  |  |  |
| Industry Group Co. Ltd., A | Chemicals | 28000 | 16147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Yili Industrial Group Co. Ltd., A | Food Products | 22400 | 100363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Yitai Coal Co. Ltd., B | Oil, Gas & Consumable Fuels | 50400 | 66578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inner Mongolia Yuan Xing Energy Co. Ltd. | Chemicals | 14000 | 15864 |
| &nbsp;&nbsp; <sup>a,b</sup> Innovent Biologics Inc., B, 144A | Biotechnology | 67000 | 287574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inspur Electronic Information Industry Co. Ltd. | Technology Hardware, Storage & Peripherals | 5708 | 17754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intco Medical Technology Co. Ltd. | Health Care Equipment & Supplies | 1890 | 5745 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> iQIYI Inc., ADR | Entertainment | 16212 | 85924 |
| &nbsp;&nbsp;&nbsp;&nbsp; JA Solar Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 8480 | 73649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jafron Biomedical Co. Ltd., A | Health Care Equipment & Supplies | 2800 | 12533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jason Furniture Hangzhou Co. Ltd., A | Household Durables | 3580 | 22099 |
| &nbsp;&nbsp;&nbsp;&nbsp; JCET Group Co. Ltd., A | Semiconductors & Semiconductor Equipment | 5600 | 18656 |
| &nbsp;&nbsp; <sup>a,b</sup> JD Health International Inc., 144A | Internet & Catalog Retail | 36400 | 332755 |
| &nbsp;&nbsp; <sup>a,b</sup> JD Logistics Inc., 144A | Air Freight & Logistics | 84000 | 162727 |
| &nbsp;&nbsp;&nbsp;&nbsp; JD.com Inc., A | Internet & Catalog Retail | 118410 | 3340685 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Jiajiayue Group Co. Ltd., A | Food & Staples Retailing | 2800 | 5095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Cnano Technology Co. Ltd., A | Chemicals | 810 | 9031 |

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------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Jiangsu Eastern Shenghong Co. Ltd. | Chemicals | 14000.0 | 26386.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., A | Transportation Infrastructure | 8400.0 | 9980.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Expressway Co. Ltd., H | Transportation Infrastructure | 60000.0 | 54811.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hengli Hydraulic Co. Ltd., A | Machinery | 4080.0 | 37239.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co. Ltd., A | Pharmaceuticals | 23540.0 | 131091.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu King's Luck Brewery JSC Ltd. | Beverages | 5600.0 | 41198.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Linyang Energy Co. Ltd., A | Electrical Equipment | 8400.0 | 10429.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Yanghe Brewery Joint-Stock Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Beverages | 5600.0 | 129906.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Yangnong Chemical Co. Ltd., A | Chemicals | 900.0 | 13515.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Yoke Technology Co. Ltd., A | Chemicals | 2800.0 | 20384.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Yuyue Medical Equipment & Supply Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Health Care Equipment & Supplies | 2800.0 | 12893.0 |
| &nbsp;&nbsp; <sup>b</sup> Jiangsu Zhongnan Construction Group Co. Ltd. | Real Estate Management & Development | 16800.0 | 5318.0 |
| &nbsp;&nbsp;&nbsp; Jiangsu Zhongtian Technology Co. Ltd., A | Electrical Equipment | 11200.0 | 26143.0 |
| &nbsp;&nbsp;&nbsp; Jiangxi Copper Co. Ltd., A | Metals & Mining | 5600.0 | 14108.0 |
| &nbsp;&nbsp;&nbsp; Jiangxi Copper Co. Ltd., H | Metals & Mining | 56000.0 | 82655.0 |
| &nbsp;&nbsp; <sup>b</sup> Jiangxi Special Electric Motor Co. Ltd., A | Electrical Equipment | 5600.0 | 14124.0 |
| &nbsp;&nbsp; <sup>b</sup> Jiangxi Zhengbang Technology Co. Ltd., A | Food Products | 11200.0 | 6847.0 |
| &nbsp;&nbsp;&nbsp; Jilin Aodong Pharmaceutical Group Co. Ltd. | Pharmaceuticals | 5600.0 | 12133.0 |
| &nbsp;&nbsp; <sup>b</sup> Jinke Properties Group Co. Ltd. | Real Estate Management & Development | 22400.0 | 6184.0 |
| &nbsp;&nbsp;&nbsp; Jinke Smart Services Group Co. Ltd., H | Real Estate Management & Development | 11200.0 | 19659.0 |
| <sup>a,c</sup> Jinxin Fertility Group Ltd., 144A | Health Care Providers & Services | 76500.0 | 70669.0 |
| &nbsp;&nbsp;&nbsp; JiuGui Liquor Co. Ltd., A | Beverages | 900.0 | 17943.0 |
| &nbsp;&nbsp; <sup>a</sup> Jiumaojiu International Holdings Ltd., 144A | Hotels, Restaurants & Leisure | 28000.0 | 74799.0 |
| &nbsp;&nbsp;&nbsp; Jizhong Energy Resources Co. Ltd., A | Oil, Gas & Consumable Fuels | 11200.0 | 10295.0 |
| &nbsp;&nbsp;&nbsp; Joincare Pharmaceutical Group Industry Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 8400.0 | 13707.0 |
| &nbsp;&nbsp;&nbsp; Joinn Laboratories China Co. Ltd., A | Life Sciences Tools & Services | 1400.0 | 11819.0 |
| &nbsp;&nbsp; <sup>a</sup> Joinn Laboratories China Co. Ltd., H, 144A | Life Sciences Tools & Services | 3880.0 | 19860.0 |
| &nbsp;&nbsp;&nbsp; Jointown Pharmaceutical Group Co. Ltd., A | Health Care Providers & Services | 5600.0 | 10554.0 |
| &nbsp;&nbsp;&nbsp; Jonjee Hi-Tech Industrial And Commercial |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holding Co. Ltd., A | Food Products | 2800.0 | 14921.0 |
| &nbsp;&nbsp;&nbsp; Joyoung Co. Ltd. | Household Durables | 2800.0 | 6669.0 |
| &nbsp;&nbsp;&nbsp; JOYY Inc., ADR | Interactive Media & Services | 2240.0 | 70762.0 |
| &nbsp;&nbsp; <sup>b</sup> Juneyao Airlines Co. Ltd., A | Airlines | 8400.0 | 19644.0 |
| &nbsp;&nbsp; <sup>b</sup> Kaishan Group Co. Ltd., A | Machinery | 2800.0 | 6070.0 |
| &nbsp;&nbsp; <sup>b</sup> Kanzhun Ltd., ADR | Interactive Media & Services | 6692.0 | 136316.0 |
| &nbsp;&nbsp; <sup>b</sup> KE Holdings Inc., ADR | Real Estate Management & Development | 32032.0 | 447167.0 |
| &nbsp;&nbsp;&nbsp; Keda Industrial Group Co. Ltd. | Machinery | 5600.0 | 11501.0 |
| &nbsp;&nbsp;&nbsp; Kingboard Holdings Ltd. | Electronic Equipment, Instruments & Components | 36500.0 | 116211.0 |
| &nbsp;&nbsp; <sup>b</sup> Kingdee International Software Group Co. Ltd. | Software | 128000.0 | 274533.0 |
| &nbsp;&nbsp; <sup>b</sup> Kingsoft Cloud Holdings Ltd., ADR | IT Services | 5096.0 | 19518.0 |
| &nbsp;&nbsp;&nbsp; Kingsoft Corp. Ltd. | Software | 41000.0 | 137105.0 |
| <sup>a,b</sup> Kuaishou Technology, B, 144A | Interactive Media & Services | 98000.0 | 892113.0 |
| &nbsp;&nbsp; <sup>b</sup> Kuang-Chi Technologies Co. Ltd. | Auto Components | 8400.0 | 20664.0 |
| &nbsp;&nbsp;&nbsp; Kunlun Tech Co. Ltd. | Entertainment | 5600.0 | 11663.0 |
| &nbsp;&nbsp;&nbsp; Kweichow Moutai Co. Ltd., A | Beverages | 4400.0 | 1098275.0 |
| &nbsp;&nbsp; <sup>b</sup> KWG Group Holdings Ltd. | Real Estate Management & Development | 70000.0 | 16682.0 |
| &nbsp;&nbsp; <sup>b</sup> Lakala Payment Co. Ltd., A | IT Services | 2800.0 | 6831.0 |
| &nbsp;&nbsp;&nbsp; Lao Feng Xiang Co. Ltd., B | Textiles, Apparel & Luxury Goods | 11200.0 | 32760.0 |
| &nbsp;&nbsp;&nbsp; LB Group Co. Ltd. | Chemicals | 8400.0 | 22970.0 |
| &nbsp;&nbsp;&nbsp; Lee & Man Paper Manufacturing Ltd. | Paper & Forest Products | 84000.0 | 37023.0 |
| &nbsp;&nbsp; <sup>a</sup> Legend Holdings Corp., 144A | Technology Hardware, Storage & Peripherals | 25200.0 | 26960.0 |
| &nbsp;&nbsp;&nbsp; Lens Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 16800.0 | 25568.0 |
| &nbsp;&nbsp; <sup>b</sup> Leo Group Co. Ltd. | Media | 30800.0 | 7879.0 |
| &nbsp;&nbsp;&nbsp; Lepu Medical Technology Beijing Co. Ltd. | Health Care Equipment & Supplies | 8400.0 | 27887.0 |
| &nbsp;&nbsp;&nbsp; Levima Advanced Materials Corp., A | Chemicals | 2800.0 | 12282.0 |
| &nbsp;&nbsp;&nbsp; Leyard Optoelectronic Co. Ltd. | Electronic Equipment, Instruments & Components | 8400.0 | 6872.0 |
| &nbsp;&nbsp; <sup>b</sup> Li Auto Inc., ADR | Automobiles | 26292.0 | 536357.0 |
| &nbsp;&nbsp;&nbsp; Li Ning Co. Ltd. | Textiles, Apparel & Luxury Goods | 113500.0 | 985224.0 |
| &nbsp;&nbsp;&nbsp; LianChuang Electronic Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 3460.0 | 6186.0 |
| &nbsp;&nbsp;&nbsp; Lianhe Chemical Technology Co. Ltd. | Chemicals | 2800.0 | 6273.0 |
| &nbsp;&nbsp;&nbsp; Liaoning Port Co. Ltd., A | Transportation Infrastructure | 64400.0 | 15079.0 |
| &nbsp;&nbsp; <sup>b</sup> Lingyi iTech Guangdong Co. | Electrical Equipment | 28000.0 | 18373.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc. | Pharmaceuticals | 2800 | 13144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Livzon Pharmaceutical Group Inc., H | Pharmaceuticals | 5600 | 18834 |
| <sup>a,c</sup> Longfor Group Holdings Ltd., 144A, Reg S | Real Estate Management & Development | 94270 | 293501 |
| &nbsp;&nbsp;&nbsp;&nbsp; LONGi Green Energy Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 25200 | 153920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Longshine Technology Group Co. Ltd., A | Software | 2800 | 8895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luenmei Quantum Co. Ltd., A | Water Utilities | 5600 | 5115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lufax Holding Ltd., ADR | Consumer Finance | 34972 | 67846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxi Chemical Group Co. Ltd., A | Chemicals | 5600 | 10028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxshare Precision Industry Co. Ltd., A | Electronic Equipment, Instruments & Components | 25299 | 116095 |
| <sup>a,b</sup> Luye Pharma Group Ltd., 144A | Pharmaceuticals | 84000 | 39390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luzhou Laojiao Co. Ltd., A | Beverages | 5600 | 181528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maanshan Iron & Steel Co. Ltd., A | Metals & Mining | 22400 | 9097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maanshan Iron & Steel Co. Ltd., H | Metals & Mining | 56000 | 13058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mango Excellent Media Co. Ltd. | Entertainment | 5630 | 24428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maxscend Microelectronics Co. Ltd., A | Electronic Equipment, Instruments & Components | 1632 | 26961 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Meinian Onehealth Healthcare Holdings Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Health Care Providers & Services | 14000 | 12404 |
| <sup>a,b</sup> Meituan, B, 144A | Internet & Catalog Retail | 205582 | 4601589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallurgical Corp. of China Ltd. | Construction & Engineering | 140000 | 31032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallurgical Corp. of China Ltd., A | Construction & Engineering | 50400 | 23165 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Microport Scientific Corp. | Health Care Equipment & Supplies | 22400 | 58978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ming Yang Smart Energy Group Ltd. | Electrical Equipment | 8400 | 30668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ming Yuan Cloud Group Holdings Ltd. | Software | 28000 | 25184 |
| &nbsp;&nbsp;&nbsp;&nbsp; MINISO Group Holding Ltd., ADR | Multiline Retail | 4452 | 47770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Minth Group Ltd. | Auto Components | 35250 | 95521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Montage Technology Co. Ltd. | Semiconductors & Semiconductor Equipment | 4025 | 36417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muyuan Foods Co. Ltd. | Food Products | 18960 | 133592 |
| &nbsp;&nbsp;&nbsp;&nbsp; NanJi E-Commerce Co. Ltd. | Media | 11200 | 7786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing Hanrui Cobalt Co. Ltd., A | Metals & Mining | 800 | 4631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing Iron & Steel Co. Ltd., A | Metals & Mining | 22400 | 10198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nanjing King-Friend Biochemical |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceutical Co. Ltd. | Pharmaceuticals | 2145 | 5593 |
| &nbsp;&nbsp;&nbsp;&nbsp; NARI Technology Co. Ltd., A | Electrical Equipment | 23440 | 82663 |
| &nbsp;&nbsp;&nbsp;&nbsp; NAURA Technology Group Co. Ltd., A | Electronic Equipment, Instruments & Components | 1800 | 58614 |
| &nbsp;&nbsp;&nbsp;&nbsp; NavInfo Co. Ltd. | Household Durables | 8400 | 13379 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetEase Inc. | Entertainment | 92400 | 1355524 |
| &nbsp;&nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., A | Insurance | 8400 | 36519 |
| &nbsp;&nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., H | Insurance | 47600 | 116485 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> New Hope Liuhe Co. Ltd. | Food Products | 16800 | 31347 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> New Oriental Education & Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group Inc. | Diversified Consumer Services | 68380 | 249692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newland Digital Technology Co. Ltd. | Software | 2800 | 5265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nine Dragons Paper Holdings Ltd. | Paper & Forest Products | 79000 | 72067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ninestar Corp. | Technology Hardware, Storage & Peripherals | 5600 | 41999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Deye Technology Co. Ltd., A | Machinery | 700 | 33508 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Ningbo Joyson Electronic Corp. | Auto Components | 5600 | 11372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Orient Wires & Cables Co. Ltd., A | Electrical Equipment | 2800 | 27450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Ronbay New Energy Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Electrical Equipment | 1586 | 15759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Sanxing Medical Electric Co. Ltd., A | Electrical Equipment | 5600 | 10910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Shanshan Co. Ltd., A | Chemicals | 8400 | 22096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Tuopu Group Co. Ltd., A | Auto Components | 2800 | 23707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Zhoushan Port Co. Ltd., A | Transportation Infrastructure | 22400 | 11590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ningxia Baofeng Energy Group Co. Ltd., A | Chemicals | 8400 | 14654 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> NIO Inc., ADR | Automobiles | 60032 | 585312 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Nongfu Spring Co. Ltd., H, 144A | Beverages | 89600 | 506263 |
| &nbsp;&nbsp;&nbsp;&nbsp; North Huajin Chemical Industries Co. Ltd. | Chemicals | 5600 | 5504 |
| &nbsp;&nbsp;&nbsp;&nbsp; North Industries Group Red Arrow Co. Ltd., A | Machinery | 2800 | 7948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northeast Securities Co. Ltd. | Capital Markets | 8400 | 7891 |
| &nbsp;&nbsp;&nbsp;&nbsp; NSFOCUS Technologies Group Co. Ltd. | Software | 2800 | 4132 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Offcn Education Technology Co. Ltd., A | Diversified Consumer Services | 8400 | 5621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Offshore Oil Engineering Co. Ltd., A | Energy Equipment & Services | 14000 | 12262 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> OFILM Group Co. Ltd. | Electronic Equipment, Instruments & Components | 11200 | 7624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oppein Home Group Inc., A | Household Durables | 900 | 15809 |
| &nbsp;&nbsp;&nbsp;&nbsp; ORG Technology Co. Ltd. | Containers & Packaging | 8400 | 6131 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Orient Securities Co. Ltd., 144A | Capital Markets | 44800.0 | 21467.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orient Securities Co. Ltd., A | Capital Markets | 25824.0 | 33368.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oriental Energy Co. Ltd., A | Oil, Gas & Consumable Fuels | 5600.0 | 6176.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Ourpalm Co. Ltd. | Entertainment | 14000.0 | 6495.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ovctek China Inc., A | Health Care Equipment & Supplies | 3520.0 | 18163.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Pangang Group Vanadium Titanium & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resources Co. Ltd., A | Metals & Mining | 30800.0 | 21056.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; People.cn Co. Ltd. | Media | 2800.0 | 6827.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; People's Insurance Co. Group of China Ltd., A | Insurance | 36400.0 | 27462.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perfect World Co. Ltd. | Entertainment | 5600.0 | 10295.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; PetroChina Co. Ltd. | Oil, Gas & Consumable Fuels | 86800.0 | 62351.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; PetroChina Co. Ltd., H | Oil, Gas & Consumable Fuels | 1064000.0 | 486676.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaron Beijing Co. Ltd., A | Life Sciences Tools & Services | 1500.0 | 14742.0 |
| <sup>a,c</sup> Pharmaron Beijing Co. Ltd., H, 144A | Life Sciences Tools & Services | 9700.0 | 67298.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; PICC Property & Casualty Co. Ltd., H | Insurance | 336000.0 | 318998.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Pinduoduo Inc., ADR | Internet & Direct Marketing Retail | 18592.0 | 1516178.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ping An Bank Co. Ltd., A | Banks | 67200.0 | 127818.0 |
| <sup>a,b,c</sup> Ping An Healthcare and Technology Co. Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A | Health Care Technology | 19600.0 | 53489.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., A | Insurance | 39200.0 | 266287.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., H | Insurance | 294000.0 | 1945573.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pingdingshan Tianan Coal Mining Co. Ltd., A | Oil, Gas & Consumable Fuels | 8400.0 | 13124.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Poly Developments and Holdings Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Real Estate Management & Development | 42000.0 | 91845.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Poly Property Services Co. Ltd., H | Real Estate Management & Development | 6600.0 | 38941.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Pop Mart International Group Ltd., 144A | Specialty Retail | 33600.0 | 85324.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Porton Pharma Solutions Ltd., A | Pharmaceuticals | 2800.0 | 16532.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Postal Savings Bank of China Co. Ltd., 144A | Banks | 476000.0 | 295787.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Postal Savings Bank of China Co. Ltd. | Banks | 70000.0 | 46742.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Construction Corp. of China Ltd. | Construction & Engineering | 39200.0 | 40113.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pylon Technologies Co. Ltd., A | Electrical Equipment | 459.0 | 20940.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Qingdao TGOOD Electric Co. Ltd. | Electrical Equipment | 2800.0 | 6155.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Qinghai Salt Lake Industry Co. Ltd., A | Chemicals | 19600.0 | 64277.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raytron Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 1348.0 | 7246.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Red Star Macalline Group Corp. Ltd., 144A | Real Estate Management & Development | 34800.0 | 11147.0 |
| <sup>a,b</sup> Remegen Co. Ltd., H, 144A | Biotechnology | 7500.0 | 55638.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> RiseSun Real Estate Development Co. Ltd. | Real Estate Management & Development | 14000.0 | 4391.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> RLX Technology Inc., ADR | Tobacco | 35812.0 | 82368.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rongsheng Petrochemical Co. Ltd. | Chemicals | 11200.0 | 19911.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SAIC Motor Corp. Ltd. | Automobiles | 33600.0 | 69979.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sailun Group Co. Ltd., A | Auto Components | 11200.0 | 16220.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sangfor Technologies Inc. | Software | 300.0 | 4880.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sansteel Minguang Co. Ltd. Fujian | Metals & Mining | 8400.0 | 5706.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sany Heavy Industry Co. Ltd., A | Machinery | 30800.0 | 70335.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Satellite Chemical Co. Ltd. | Chemicals | 12746.0 | 28554.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sealand Securities Co. Ltd. | Capital Markets | 23440.0 | 11282.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Seazen Group Ltd. | Real Estate Management & Development | 112000.0 | 41471.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Seazen Holdings Co. Ltd., A | Real Estate Management & Development | 8400.0 | 24889.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SF Holding Co. Ltd. | Air Freight & Logistics | 16800.0 | 140250.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SG Micro Corp., A | Semiconductors & Semiconductor Equipment | 1275.0 | 31807.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shaanxi Coal Industry Co. Ltd. | Oil, Gas & Consumable Fuels | 33600.0 | 90230.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shaanxi International Trust Co. Ltd. | Capital Markets | 14000.0 | 6131.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shan Xi Hua Yang Group New Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Oil, Gas & Consumable Fuels | 8400.0 | 17301.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Shandong Chenming Paper Holdings Ltd., A | Paper & Forest Products | 5600.0 | 4031.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Shandong Chenming Paper Holdings Ltd., B | Paper & Forest Products | 33600.0 | 10246.0 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Shandong Chenming Paper Holdings Ltd., H | Paper & Forest Products | 28000.0 | 8861.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Denghai Seeds Co. Ltd. | Food Products | 2800.0 | 8021.0 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Shandong Gold Mining Co. Ltd., 144A | Metals & Mining | 35500.0 | 65861.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Gold Mining Co. Ltd., A | Metals & Mining | 11884.0 | 32910.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Himile Mechanical Science & |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Co. Ltd. | Machinery | 2800.0 | 9369.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Hi-speed Co. Ltd., A | Transportation Infrastructure | 11200.0 | 9211.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Hualu Hengsheng Chemical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 8480.0 | 40630.0 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Humon Smelting Co. Ltd. | Metals & Mining | 2800 | 4265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Linglong Tyre Co. Ltd., A | Auto Components | 2800 | 8288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Nanshan Aluminum Co. Ltd., A | Metals & Mining | 42000 | 19850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Pharmaceutical Glass Co. Ltd., A | Health Care Equipment & Supplies | 2800 | 11493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Sun Paper Industry JSC Ltd., A | Paper & Forest Products | 8400 | 13986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shandong Weigao Group Medical Polymer Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Health Care Equipment & Supplies | 116900 | 192014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai AJ Group Co. Ltd., A | Diversified Financial Services | 5600 | 4468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Bailian Group Co. Ltd., B | Food & Staples Retailing | 11200 | 8198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Bairun Investment Holding Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Beverages | 3840 | 20735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., A | Software | 3180 | 20591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., B | Software | 25290 | 78273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Construction Group Co. Ltd., A | Construction & Engineering | 25200 | 9470 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Shanghai Electric Group Co. Ltd., A | Electrical Equipment | 33600 | 19134 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Shanghai Electric Group Co. Ltd., H | Electrical Equipment | 112000 | 25256 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Shanghai Electric Power Co. Ltd., A | Independent Power Producers & Energy Traders | 11200 | 16204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fosun Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 5600 | 28523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fosun Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Pharmaceuticals | 28000 | 89687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Friendess Electronic Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corp. Ltd., A | Electronic Equipment, Instruments & Components | 420 | 13178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fudan Microelectronics Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Semiconductors & Semiconductor Equipment | 999 | 10080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Fudan Microelectronics Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Semiconductors & Semiconductor Equipment | 14000 | 52915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Huayi Group Co. Ltd., B | Chemicals | 8400 | 4813 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Shanghai International Airport Co. Ltd., A | Transportation Infrastructure | 8400 | 70064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai International Port Group Co. Ltd., A | Transportation Infrastructure | 39200 | 30255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinjiang International Hotels Co. Ltd. | Hotels, Restaurants & Leisure | 8400 | 16834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinjiang International Hotels Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Hotels, Restaurants & Leisure | 2800 | 23614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinqiao Export Processing Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 2800 | 4492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Jinqiao Export Processing Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., B | Real Estate Management & Development | 16800 | 15271 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Shanghai Junshi Biosciences Co. Ltd., A | Biotechnology | 866 | 7835 |
| <sup>a,b</sup> Shanghai Junshi Biosciences Co. Ltd., H, 144A | Biotechnology | 11200 | 69597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lingang Holdings Corp. Ltd. | Real Estate Management & Development | 6400 | 11026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 5600 | 7883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Lujiazui Finance & Trade Zone |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., B | Real Estate Management & Development | 58800 | 47510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai M&G Stationery Inc., A | Commercial Services & Supplies | 2800 | 22250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Mechanical and Electrical Industry |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd., B | Machinery | 11200 | 11435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pharmaceuticals Holding Co. Ltd., A | Health Care Providers & Services | 11200 | 28863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pharmaceuticals Holding Co. Ltd., H | Health Care Providers & Services | 42000 | 69848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pudong Development Bank Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Banks | 100815 | 106077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Putailai New Energy Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 4920 | 36899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai RAAS Blood Products Co. Ltd., A | Biotechnology | 25200 | 23092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Rural Commercial Bank Co. Ltd., A | Banks | 11200 | 9518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Shibei Hi-Tech Co. Ltd., B | Real Estate Management & Development | 30800 | 7977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Tunnel Engineering Co. Ltd., A | Construction & Engineering | 14000 | 10664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Waigaoqiao Free Trade Zone Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Trading Companies & Distributors | 11200 | 9957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Yuyuan Tourist Mart Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Specialty Retail | 16800 | 18478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Zhangjiang High-Tech Park |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Real Estate Management & Development | 5600 | 9178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Zhenhua Heavy Industries Co. Ltd., B | Machinery | 61600 | 15277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanxi Coking Coal Energy Group Co. Ltd. | Oil, Gas & Consumable Fuels | 14000 | 23573 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Shanxi Lu'an Environmental Energy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Co. Ltd., A | Oil, Gas & Consumable Fuels | 11200.0 | 27276.0 |
| &nbsp;&nbsp;&nbsp; Shanxi Meijin Energy Co. Ltd., A | Metals & Mining | 16800.0 | 21902.0 |
| &nbsp;&nbsp;&nbsp; Shanxi Securities Co. Ltd. | Capital Markets | 14200.0 | 10878.0 |
| &nbsp;&nbsp;&nbsp; Shanxi Taigang Stainless Steel Co. Ltd., A | Metals & Mining | 22400.0 | 13986.0 |
| &nbsp;&nbsp;&nbsp; Shanxi Xinghuacun Fen Wine Factory Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Beverages | 4320.0 | 177942.0 |
| &nbsp;&nbsp;&nbsp; Shanying International Holding Co. Ltd., A | Paper & Forest Products | 16800.0 | 6022.0 |
| &nbsp;&nbsp;&nbsp; Shenghe Resources Holding Co. Ltd., A | Metals & Mining | 5600.0 | 11331.0 |
| &nbsp;&nbsp;&nbsp; Shengyi Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 8400.0 | 17495.0 |
| &nbsp;&nbsp;&nbsp; Shennan Circuits Co. Ltd., A | Electronic Equipment, Instruments & Components | 600.0 | 6257.0 |
| &nbsp;&nbsp;&nbsp; Shenwan Hongyuan Group Co. Ltd. | Capital Markets | 75600.0 | 43488.0 |
| <sup>a,c</sup> Shenwan Hongyuan Group Co. Ltd., 144A | Capital Markets | 89600.0 | 16646.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Agricultural Products Group Co. Ltd. | Food & Staples Retailing | 5600.0 | 4613.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Airport Co. Ltd. | Transportation Infrastructure | 5600.0 | 6362.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Capchem Technology Co. Ltd., A | Chemicals | 2080.0 | 13068.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Dynanonic Co. Ltd., A | Chemicals | 540.0 | 17919.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Energy Group Co. Ltd. | Independent Power Producers & Energy Traders | 16800.0 | 15443.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenzhen Everwin Precision Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Electronic Equipment, Instruments & Components | 5600.0 | 8361.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Expressway Corp. Ltd., H | Transportation Infrastructure | 24000.0 | 20695.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Gas Corp. Ltd., A | Gas Utilities | 9100.0 | 8602.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Hepalink Pharmaceutical Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Pharmaceuticals | 2800.0 | 5200.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Huaqiang Industry Co. Ltd. | Electronic Equipment, Instruments & Components | 2800.0 | 4941.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenzhen Infogem Technologies Co. Ltd., A | Software | 2800.0 | 3764.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Inovance Technology Co. Ltd. | Machinery | 9350.0 | 93921.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen International Holdings Ltd. | Transportation Infrastructure | 70000.0 | 68700.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Investment Ltd. | Real Estate Management & Development | 112000.0 | 19229.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Jinjia Group Co. Ltd. | Containers & Packaging | 5600.0 | 5852.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kaifa Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 5600.0 | 8652.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kangtai Biological Products Co. Ltd. | Biotechnology | 4360.0 | 19869.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kedali Industry Co. Ltd., A | Auto Components | 800.0 | 13738.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kingdom Sci-Tech Co. Ltd., A | Software | 2800.0 | 4164.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Mindray Bio-Medical Electronics Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Health Care Equipment & Supplies | 4300.0 | 196372.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenzhen MTC Co. Ltd. | Household Durables | 19600.0 | 9887.0 |
| &nbsp;&nbsp; <sup>b</sup> Shenzhen Neptunus Bioengineering Co. Ltd. | Health Care Providers & Services | 11200.0 | 5374.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Overseas Chinese Town Co. Ltd. | Hotels, Restaurants & Leisure | 30800.0 | 23727.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Salubris Pharmaceuticals Co. Ltd. | Pharmaceuticals | 2800.0 | 13294.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen SC New Energy Technology Corp., A | Semiconductors & Semiconductor Equipment | 1100.0 | 18128.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Senior Technology Material Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 2800.0 | 8604.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Sunway Communication Co. Ltd. | Communications Equipment | 2800.0 | 6681.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Transsion Holdings Co. Ltd., A | Technology Hardware, Storage & Peripherals | 2912.0 | 33468.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Yan Tian Port Holding Co. Ltd., A | Transportation Infrastructure | 8400.0 | 6155.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen YUTO Packaging Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Containers & Packaging | 2800.0 | 13383.0 |
| &nbsp;&nbsp;&nbsp; Shenzhen Zhongjin Lingnan Nonfemet Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 14000.0 | 8296.0 |
| &nbsp;&nbsp;&nbsp; Shenzhou International Group Holdings Ltd. | Textiles, Apparel & Luxury Goods | 39200.0 | 440971.0 |
| &nbsp;&nbsp; <sup>b</sup> Shijiazhuang Changshan BeiMing Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Textiles, Apparel & Luxury Goods | 5600.0 | 4549.0 |
| &nbsp;&nbsp;&nbsp; Shijiazhuang Yiling Pharmaceutical Co. Ltd. | Pharmaceuticals | 6280.0 | 27194.0 |
| <sup>b,d</sup> Shimao Group Holdings Ltd. | Real Estate Management & Development | 78000.0 | 20348.0 |
| <sup>a,b</sup> Shimao Services Holdings Ltd., Z, 144A | Real Estate Management & Development | 28000.0 | 10117.0 |
| &nbsp;&nbsp;&nbsp; Shui On Land Ltd. | Real Estate Management & Development | 168000.0 | 21310.0 |
| &nbsp;&nbsp; <sup>b</sup> Siasun Robot & Automation Co. Ltd. | Machinery | 5600.0 | 7268.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Chuantou Energy Co. Ltd., A | Independent Power Producers & Energy Traders | 16800.0 | 29696.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Hebang Biotechnology Co. Ltd., A | Chemicals | 33600.0 | 14763.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Kelun Pharmaceutical Co. Ltd. | Pharmaceuticals | 5600.0 | 21538.0 |
| &nbsp;&nbsp; <sup>b</sup> Sichuan New Energy Power Co. Ltd. | Trading Companies & Distributors | 5600.0 | 14439.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Road and Bridge Group Co. Ltd., A | Construction & Engineering | 16800.0 | 27001.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Swellfun Co. Ltd., A | Beverages | 1600.0 | 19522.0 |
| &nbsp;&nbsp;&nbsp; Sichuan Yahua Industrial Group Co. Ltd., A | Chemicals | 2800.0 | 9409.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sieyuan Electric Co. Ltd. | Electrical Equipment | 2800 | 15467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinoma International Engineering Co. | Construction & Engineering | 8400 | 10344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinoma Science & Technology Co. Ltd. | Chemicals | 5600 | 17345 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinomine Resource Group Co. Ltd., A | Metals & Mining | 1600 | 15415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sino-Ocean Group Holding Ltd. | Real Estate Management & Development | 154000 | 21507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinopec Engineering Group Co. Ltd. | Construction & Engineering | 70000 | 30763 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Sinopec Oilfield Service Corp. | Energy Equipment & Services | 112000 | 7318 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Sinopec Oilfield Service Corp., A | Energy Equipment & Services | 19600 | 5609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinopec Shanghai Petrochemical Co. Ltd., A | Chemicals | 22400 | 10069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinopec Shanghai Petrochemical Co. Ltd., H | Chemicals | 168000 | 28413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinopharm Group Co. Ltd., H | Health Care Providers & Services | 67200 | 170821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinotrans Ltd., A | Air Freight & Logistics | 14000 | 7770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinotrans Ltd., H | Air Freight & Logistics | 84000 | 27336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinotruk Hong Kong Ltd. | Machinery | 28000 | 39032 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Skshu Paint Co. Ltd., A | Chemicals | 980 | 16123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworth Digital Co. Ltd., A | Communications Equipment | 2800 | 5641 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Smoore International Holdings Ltd., 144A | Tobacco | 90460 | 140472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Songcheng Performance Development Co. Ltd. | Hotels, Restaurants & Leisure | 9060 | 19118 |
| &nbsp;&nbsp;&nbsp;&nbsp; SooChow Securities Co. Ltd., A | Capital Markets | 19804 | 18691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Securities Co. Ltd., A | Capital Markets | 25200 | 13658 |
| &nbsp;&nbsp;&nbsp;&nbsp; StarPower Semiconductor Ltd., A | Semiconductors & Semiconductor Equipment | 500 | 23797 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> STO Express Co. Ltd. | Air Freight & Logistics | 5600 | 8361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Art Retail Group Ltd. | Food & Staples Retailing | 98000 | 32144 |
| <sup>b,d</sup> Sunac China Holdings Ltd. | Real Estate Management & Development | 160000 | 32907 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Sunac Services Holdings Ltd., 144A | Real Estate Management & Development | 29898 | 16089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sungrow Power Supply Co. Ltd. | Electrical Equipment | 5600 | 90489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suning Universal Co. Ltd. | Real Estate Management & Development | 14000 | 6677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunny Optical Technology Group Co. Ltd. | Electronic Equipment, Instruments & Components | 33600 | 399716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunwoda Electronic Co. Ltd., A | Electrical Equipment | 5600 | 17118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suofeiya Home Collection Co. Ltd. | Household Durables | 2800 | 7349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Anjie Technology Co. Ltd., A | Electrical Equipment | 2800 | 4998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Dongshan Precision Manufacturing Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 5600 | 20016 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Suzhou Gold Mantis Construction Decoration |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Construction & Engineering | 8400 | 5888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou Maxwell Technologies Co. Ltd. | Electrical Equipment | 640 | 38096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzhou TA&A Ultra Clean Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 2800 | 22614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiji Computer Corp. Ltd. | IT Services | 2800 | 11384 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> TAL Education Group, ADR | Diversified Consumer Services | 22344 | 157525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tangshan Jidong Cement Co. Ltd. | Construction Materials | 11200 | 13322 |
| &nbsp;&nbsp;&nbsp;&nbsp; TangShan Port Group Co. Ltd., A | Transportation Infrastructure | 19600 | 7762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tangshan Sanyou Chemical Industries Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Chemicals | 8600 | 8216 |
| &nbsp;&nbsp;&nbsp;&nbsp; TBEA Co. Ltd., A | Electrical Equipment | 14000 | 40631 |
| &nbsp;&nbsp;&nbsp;&nbsp; TCL Technology Group Corp. | Household Durables | 53200 | 28604 |
| &nbsp;&nbsp;&nbsp;&nbsp; TCL Zhonghuan Renewable Energy Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Semiconductors & Semiconductor Equipment | 11200 | 60963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | Interactive Media & Services | 300338 | 12852471 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Tencent Music Entertainment Group, ADR | Entertainment | 30576 | 253169 |
| &nbsp;&nbsp;&nbsp;&nbsp; The People's Insurance Co. Group of China |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Insurance | 420000 | 139373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thunder Software Technology Co. Ltd. | Software | 1200 | 17396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tian Di Science & Technology Co. Ltd., A | Machinery | 14000 | 10522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianjin Chase Sun Pharmaceutical Co. Ltd. | Pharmaceuticals | 11200 | 9195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianma Microelectronics Co. Ltd. | Electronic Equipment, Instruments & Components | 8400 | 10514 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Tianqi Lithium Corp., A | Chemicals | 5600 | 63933 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Tianqi Lithium Corp., H | Chemicals | 5600 | 40036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianshan Aluminum Group Co. Ltd., A | Machinery | 8400 | 9373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tianshui Huatian Technology Co. Ltd., A | Semiconductors & Semiconductor Equipment | 11200 | 13420 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Tibet Summit Resources Co. Ltd., A | Metals & Mining | 2800 | 9276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | Food Products | 94000 | 165961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Titan Wind Energy Suzhou Co. Ltd., A | Electrical Equipment | 5600 | 12246 |
| <sup>b,c</sup> Tongcheng Travel Holdings Ltd. | Internet & Catalog Retail | 59600 | 143407 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> TongFu Microelectronics Co. Ltd., A | Semiconductors & Semiconductor Equipment | 5600 | 13339 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Tongkun Group Co. Ltd., A | Chemicals | 8400 | 17543.0 |
| &nbsp;&nbsp;&nbsp; Tongling Nonferrous Metals Group Co. Ltd. | Metals & Mining | 39200.0 | 17677.0 |
| &nbsp;&nbsp;&nbsp; Tongwei Co. Ltd., A | Food Products | 16800.0 | 93678.0 |
| &nbsp;&nbsp; <sup>b</sup> Topchoice Medical Corp., A | Health Care Providers & Services | 1200.0 | 26534.0 |
| &nbsp;&nbsp;&nbsp; Topsec Technologies Group Inc., A | Electrical Equipment | 5600.0 | 8086.0 |
| &nbsp;&nbsp; <sup>a</sup> Topsports International Holdings Ltd., 144A | Specialty Retail | 84000.0 | 66619.0 |
| &nbsp;&nbsp;&nbsp; Towngas Smart Energy Co. Ltd. | Gas Utilities | 56000.0 | 28126.0 |
| &nbsp;&nbsp;&nbsp; TravelSky Technology Ltd., H | IT Services | 56000.0 | 118386.0 |
| &nbsp;&nbsp;&nbsp; Trina Solar Co. Ltd., A | Semiconductors & Semiconductor Equipment | 7756.0 | 71475.0 |
| &nbsp;&nbsp; <sup>b</sup> Trip.com Group Ltd., ADR | Internet & Catalog Retail | 26628.0 | 916003.0 |
| &nbsp;&nbsp;&nbsp; Tsingtao Brewery Co. Ltd., A | Beverages | 2800.0 | 43504.0 |
| &nbsp;&nbsp;&nbsp; Tsingtao Brewery Co. Ltd., H | Beverages | 30584.0 | 302119.0 |
| &nbsp;&nbsp; <sup>b</sup> Tuya Inc., ADR | Software | 11788.0 | 22515.0 |
| &nbsp;&nbsp;&nbsp; Unigroup Guoxin Microelectronics Co. Ltd. | Electronic Equipment, Instruments & Components | 2899.0 | 55233.0 |
| &nbsp;&nbsp;&nbsp; Uni-President China Holdings Ltd. | Food Products | 56000.0 | 56036.0 |
| &nbsp;&nbsp;&nbsp; Unisplendour Corp. Ltd. | Electronic Equipment, Instruments & Components | 5600.0 | 15791.0 |
| &nbsp;&nbsp;&nbsp; Universal Scientific Industrial Shanghai Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Electronic Equipment, Instruments & Components | 2800.0 | 6568.0 |
| &nbsp;&nbsp;&nbsp; Valiant Co. Ltd., A | Chemicals | 2800.0 | 5933.0 |
| &nbsp;&nbsp; <sup>b</sup> Vipshop Holdings Ltd., ADR | Internet & Catalog Retail | 19936.0 | 271927.0 |
| &nbsp;&nbsp;&nbsp; Visual China Group Co. Ltd., A | Internet & Catalog Retail | 2800.0 | 4978.0 |
| &nbsp;&nbsp;&nbsp; Walvax Biotechnology Co. Ltd. | Biotechnology | 5600.0 | 32529.0 |
| &nbsp;&nbsp; <sup>b</sup> Wanda Film Holding Co. Ltd., A | Entertainment | 8400.0 | 16997.0 |
| &nbsp;&nbsp;&nbsp; Wangsu Science & Technology Co. Ltd. | IT Services | 8400.0 | 6775.0 |
| &nbsp;&nbsp;&nbsp; Wanhua Chemical Group Co. Ltd., A | Chemicals | 11200.0 | 149979.0 |
| &nbsp;&nbsp;&nbsp; Wanxiang Qianchao Co. Ltd. | Auto Components | 14000.0 | 9854.0 |
| &nbsp;&nbsp; <sup>b</sup> Weibo Corp., ADR | Interactive Media & Services | 3696.0 | 70668.0 |
| &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd., A | Machinery | 25200.0 | 37078.0 |
| &nbsp;&nbsp;&nbsp; Weichai Power Co. Ltd., H | Machinery | 84000.0 | 112790.0 |
| &nbsp;&nbsp;&nbsp; Weifu High-Technology Group Co. Ltd., A | Auto Components | 2800.0 | 7175.0 |
| &nbsp;&nbsp;&nbsp; Weifu High-Technology Group Co. Ltd., B | Auto Components | 8400.0 | 14174.0 |
| &nbsp;&nbsp; <sup>b</sup> Wens Foodstuffs Group Co. Ltd. | Food Products | 5600.0 | 15888.0 |
| &nbsp;&nbsp;&nbsp; Western Mining Co. Ltd., A | Metals & Mining | 8400.0 | 12384.0 |
| &nbsp;&nbsp;&nbsp; Western Securities Co. Ltd. | Capital Markets | 16800.0 | 14787.0 |
| &nbsp;&nbsp;&nbsp; Western Superconducting Technologies Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Metals & Mining | 1488.0 | 20364.0 |
| &nbsp;&nbsp;&nbsp; Westone Information Industry Inc. | Electronic Equipment, Instruments & Components | 2800.0 | 12355.0 |
| &nbsp;&nbsp;&nbsp; Will Semiconductor Co. Ltd. Shanghai, A | Semiconductors & Semiconductor Equipment | 2800.0 | 31198.0 |
| &nbsp;&nbsp;&nbsp; Wingtech Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 5600.0 | 42557.0 |
| &nbsp;&nbsp;&nbsp; Winning Health Technology Group Co. Ltd. | Health Care Technology | 9300.0 | 13818.0 |
| &nbsp;&nbsp;&nbsp; Wolong Electric Group Co. Ltd., A | Electrical Equipment | 5600.0 | 10085.0 |
| &nbsp;&nbsp;&nbsp; Wuchan Zhongda Group Co. Ltd., A | Distributors | 22400.0 | 15573.0 |
| &nbsp;&nbsp;&nbsp; Wuhan Guide Infrared Co. Ltd. | Electronic Equipment, Instruments & Components | 11273.0 | 17922.0 |
| &nbsp;&nbsp;&nbsp; Wuliangye Yibin Co. Ltd., A | Beverages | 13800.0 | 360395.0 |
| &nbsp;&nbsp;&nbsp; WUS Printed Circuit Kunshan Co. Ltd. | Electronic Equipment, Instruments & Components | 8440.0 | 14516.0 |
| &nbsp;&nbsp; <sup>a</sup> WuXi AppTec Co. Ltd., 144A | Life Sciences Tools & Services | 17420.0 | 184022.0 |
| &nbsp;&nbsp;&nbsp; WuXi AppTec Co. Ltd., A | Life Sciences Tools & Services | 9260.0 | 108408.0 |
| <sup>a,b</sup> Wuxi Biologics Cayman Inc., 144A | Life Sciences Tools & Services | 178313.0 | 1367342.0 |
| &nbsp;&nbsp;&nbsp; Wuxi Shangji Automation Co. Ltd., A | Machinery | 1260.0 | 19276.0 |
| &nbsp;&nbsp; <sup>b</sup> XCMG Construction Machinery Co. Ltd. | Machinery | 42000.0 | 30777.0 |
| &nbsp;&nbsp;&nbsp; Xiamen C & D Inc., A | Trading Companies & Distributors | 11200.0 | 22096.0 |
| &nbsp;&nbsp;&nbsp; Xiamen Faratronic Co. Ltd., A | Electronic Equipment, Instruments & Components | 800.0 | 18486.0 |
| &nbsp;&nbsp;&nbsp; Xiamen ITG Group Corp. Ltd., A | Trading Companies & Distributors | 8400.0 | 8668.0 |
| &nbsp;&nbsp;&nbsp; Xiamen Tungsten Co. Ltd., A | Metals & Mining | 5600.0 | 15823.0 |
| &nbsp;&nbsp;&nbsp; Xiangcai Co. Ltd., A | Real Estate Management & Development | 5600.0 | 6119.0 |
| <sup>a,b</sup> Xiaomi Corp., B, 144A | Technology Hardware, Storage & Peripherals | 733600.0 | 1028268.0 |
| &nbsp;&nbsp;&nbsp; Xinfengming Group Co. Ltd., A | Chemicals | 2800.0 | 4403.0 |
| &nbsp;&nbsp;&nbsp; Xinhua Winshare Publishing and Media Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Distributors | 28000.0 | 18906.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Goldwind Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Electrical Equipment | 11200.0 | 17806.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Goldwind Science & Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., H | Electrical Equipment | 33600.0 | 29919.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Tianshan Cement Co. Ltd., A | Construction Materials | 8400.0 | 10344.0 |
| &nbsp;&nbsp;&nbsp; Xinjiang Zhongtai Chemical Co. Ltd., A | Chemicals | 11200.0 | 12076.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Xinxing Ductile Iron Pipes Co. Ltd. | Metals & Mining | 14000 | 7386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xinyangfeng Agricultural Technology Co. Ltd. | Chemicals | 5600 | 9316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xinyi Solar Holdings Ltd. | Semiconductors & Semiconductor Equipment | 214000 | 236896 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> XPeng Inc., A | Automobiles | 51750 | 254276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xtep International Holdings Ltd. | Textiles, Apparel & Luxury Goods | 56000 | 62350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xuji Electric Co. Ltd., A | Electrical Equipment | 2800 | 8082 |
| <sup>a,c</sup> Yadea Group Holdings Ltd., 144A | Automobiles | 56000 | 93705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yangling Metron New Material Inc., A | Semiconductors & Semiconductor Equipment | 2800 | 19895 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Yango Group Co. Ltd. | Real Estate Management & Development | 19600 | 5326 |
| <sup>a,c</sup> Yangtze Optical Fibre and Cable Joint Stock Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co., 144A | Communications Equipment | 8500 | 15138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yangzhou Yangjie Electronic Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Semiconductors & Semiconductor Equipment | 2800 | 21287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings Ltd. | Machinery | 126000 | 127766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yankuang Energy Group Co. Ltd., A | Oil, Gas & Consumable Fuels | 5600 | 27179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yankuang Energy Group Co. Ltd., H | Oil, Gas & Consumable Fuels | 94000 | 286639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yantai Changyu Pioneer Wine Co. Ltd., B | Beverages | 11200 | 16588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yantai Eddie Precision Machinery Co. Ltd., A | Machinery | 3560 | 7677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yantai Jereh Oilfield Services Group Co. Ltd. | Energy Equipment & Services | 2800 | 11295 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Yatsen Holding Ltd., ADR | Personal Products | 11648 | 17006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yealink Network Technology Corp. Ltd. | Communications Equipment | 2800 | 24520 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Yifan Pharmaceutical Co. Ltd. | Pharmaceuticals | 5600 | 9915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yifeng Pharmacy Chain Co. Ltd. | Food & Staples Retailing | 2890 | 26666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yihai International Holding Ltd. | Food Products | 28000 | 99014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yihai Kerry Arawana Holdings Co. Ltd., A | Food Products | 5600 | 35257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yintai Gold Co. Ltd. | Metals & Mining | 8600 | 13723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yixintang Pharmaceutical Group Co. Ltd. | Food & Staples Retailing | 2800 | 12752 |
| &nbsp;&nbsp;&nbsp;&nbsp; YongXing Special Materials Technology Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Metals & Mining | 1100 | 14654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yonyou Network Technology Co. Ltd., A | Software | 12190 | 42584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Youngor Group Co. Ltd., A | Real Estate Management & Development | 19600 | 17932 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Youngy Co. Ltd., A | Metals & Mining | 1000 | 14150 |
| &nbsp;&nbsp;&nbsp;&nbsp; YTO Express Group Co. Ltd., A | Air Freight & Logistics | 8400 | 24391 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Yuan Longping High-tech Agriculture Co. Ltd. | Food Products | 5600 | 13007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yuexiu Property Co. Ltd. | Real Estate Management & Development | 64800 | 78458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum China Holdings Inc. | Hotels, Restaurants & Leisure | 21050 | 1183986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunda Holding Co. Ltd., A | Air Freight & Logistics | 5900 | 12262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Aluminium Co. Ltd. | Metals & Mining | 12790 | 20556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Baiyao Group Co. Ltd. | Pharmaceuticals | 5980 | 46984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Botanee Bio-Technology Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Personal Products | 700 | 15099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Copper Co. Ltd. | Metals & Mining | 5600 | 9510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Energy New Material Co. Ltd. | Containers & Packaging | 2800 | 53132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yunnan Tin Co. Ltd. | Metals & Mining | 5600 | 11412 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Yunnan Yuntianhua Co. Ltd., A | Chemicals | 5600 | 17029 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Zai Lab Ltd., ADR | Biotechnology | 4564 | 140115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zangge Mining Co. Ltd., A | Chemicals | 5600 | 21020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhangzhou Pientzehuang Pharmaceutical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd. | Pharmaceuticals | 2100 | 87553 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Zhaojin Mining Industry Co. Ltd., H | Metals & Mining | 56000 | 62278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhefu Holding Group Co. Ltd. | Electrical Equipment | 22400 | 12659 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> Zhejiang Century Huatong Group Co. Ltd., A | Entertainment | 25200 | 13877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang China Commodities City Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Real Estate Management & Development | 19600 | 14844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Chint Electrics Co. Ltd., A | Electrical Equipment | 5600 | 22420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Crystal-Optech Co. Ltd. | Electronic Equipment, Instruments & Components | 5600 | 9543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Dahua Technology Co. Ltd. | Electronic Equipment, Instruments & Components | 11200 | 18308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Dingli Machinery Co. Ltd. | Machinery | 2800 | 19364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Expressway Co. Ltd., H | Transportation Infrastructure | 71384 | 54967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Hailiang Co. Ltd. | Metals & Mining | 5600 | 9146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang HangKe Technology Inc. Co. | Electrical Equipment | 1196 | 7566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Hisoar Pharmaceutical Co. Ltd., A | Pharmaceuticals | 5600 | 5674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huace Film & Television Co. Ltd. | Entertainment | 8400 | 6471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huahai Pharmaceutical Co. Ltd., A | Pharmaceuticals | 5800 | 18325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Huayou Cobalt Co. Ltd., A | Metals & Mining | 5660 | 45508 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Jingsheng Mechanical & Electrical Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Semiconductors & Semiconductor Equipment | 5600.0 | 51444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Jiuzhou Pharmaceutical Co. Ltd., A | Pharmaceuticals | 2800.0 | 17171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Juhua Co. Ltd., A | Chemicals | 8400.0 | 18830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Medicine Co. Ltd., A | Pharmaceuticals | 2800.0 | 4731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang NHU Co. Ltd. | Pharmaceuticals | 11456.0 | 31046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Sanhua Intelligent Controls Co. Ltd. | Machinery | 2800.0 | 8588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Supcon Technology Co. Ltd., A | Electronic Equipment, Instruments & Components | 1728.0 | 22685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Supor Co. Ltd. | Household Durables | 1400.0 | 10008 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Zhejiang Wanfeng Auto Wheel Co. Ltd. | Auto Components | 11200.0 | 9632 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Zhejiang Wanliyang Co. Ltd. | Machinery | 5600.0 | 6516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Weiming Environment Protection Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Commercial Services & Supplies | 780.0 | 2089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Weixing New Building Materials Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Building Products | 5600.0 | 17272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., A | Pharmaceuticals | 2800.0 | 22298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Yongtai Technology Co. Ltd., A | Chemicals | 2800.0 | 8834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhengzhou Coal Mining Machinery Group Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Machinery | 5600.0 | 9033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zheshang Securities Co. Ltd., A | Capital Markets | 5600.0 | 8037 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Zhihu Inc., ADR | Interactive Media & Services | 8176.0 | 10629 |
| <sup>a,b,c</sup> ZhongAn Online P&C Insurance Co. Ltd., 144A | Insurance | 39200.0 | 107983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongji Innolight Co. Ltd. | Machinery | 2800.0 | 10939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongshan Public Utilities Group Co. Ltd., A | Water Utilities | 5600.0 | 5690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings Ltd. | Specialty Retail | 34500.0 | 177474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhongtai Securities Co. Ltd., A | Capital Markets | 8400.0 | 7782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhuhai Huafa Properties Co. Ltd., A | Real Estate Management & Development | 8400.0 | 11000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhuzhou CRRC Times Electric Co. Ltd., A | Electrical Equipment | 2002.0 | 15790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhuzhou CRRC Times Electric Co. Ltd., H | Electrical Equipment | 25200.0 | 125113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhuzhou Kibing Group Co. Ltd., A | Building Products | 8400.0 | 13828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zijin Mining Group Co. Ltd., A | Metals & Mining | 72800.0 | 105220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zijin Mining Group Co. Ltd., H | Metals & Mining | 288000.0 | 390398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoomlion Heavy Industry Science and |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Co. Ltd. | Machinery | 28000.0 | 22015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoomlion Heavy Industry Science and |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Co. Ltd., H | Machinery | 67200.0 | 31771 |
| &nbsp;&nbsp;&nbsp;&nbsp; ZTE Corp. | Communications Equipment | 14000.0 | 52327 |
| &nbsp;&nbsp;&nbsp;&nbsp; ZTE Corp., H | Communications Equipment | 39200.0 | 86386 |
| &nbsp;&nbsp;&nbsp;&nbsp; ZTO Express Cayman Inc. | Air Freight & Logistics | 22248.0 | 603166 |
|  |  |  | 101075462 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Hong Kong 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Alibaba Health Information Technology Ltd., A | Health Care Technology | 236000.0 | 201077 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Alibaba Pictures Group Ltd., A | Media | 560000.0 | 40897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijing Enterprises Water Group Ltd., A | Water Utilities | 224000.0 | 57399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bosideng International Holdings Ltd., A | Household Durables | 195000.0 | 92691 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Everbright Environment Group Ltd., B | Commercial Services & Supplies | 168000.0 | 75121 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Everbright Ltd., A | Capital Markets | 42000.0 | 31265 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Gas Holdings Ltd., A | Gas Utilities | 145600.0 | 211919 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Mengniu Dairy Co. Ltd., B | Food Products | 154000.0 | 698480 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Power International Development Ltd., H | Independent Power Producers & Energy Traders | 252000.0 | 106548 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Beer Holdings Co. Ltd., A | Beverages | 78694.0 | 550004 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Gas Group Ltd., A | Gas Utilities | 45200.0 | 169682 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Resources Land Ltd., H | Real Estate Management & Development | 137600.0 | 630267 |
| &nbsp;&nbsp;&nbsp;&nbsp; China State Construction International Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd., A | Construction & Engineering | 80000.0 | 89892 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Traditional Chinese Medicine Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co. Ltd. | Pharmaceuticals | 112000.0 | 50942 |
| &nbsp;&nbsp;&nbsp;&nbsp; COSCO SHIPPING Ports Ltd., B | Transportation Infrastructure | 112000.0 | 88969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Geely Automobile Holdings Ltd. | Automobiles | 271000.0 | 395826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guangdong Investment Ltd. | Water Utilities | 153300.0 | 156935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingboard Laminates Holdings Ltd. | Electronic Equipment, Instruments & Components | 53600.0 | 58923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kunlun Energy Co. Ltd. | Oil, Gas & Consumable Fuels | 168000.0 | 119893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shanghai Industrial Holdings Ltd. | Industrial Conglomerates | 28000.0 | 34619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shougang Fushan Resources Group Ltd. | Metals & Mining | 56000.0 | 17866 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| Sino Biopharmaceutical Ltd. | Pharmaceuticals | 476000 | 278710 |
| &nbsp;&nbsp;&nbsp;&nbsp;<sup>b</sup> Super Hi International Holding Ltd. | Hotels, Restaurants & Leisure | 5600 | 7132 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vinda International Holdings Ltd. | Household Products | 13000 | 38309 |
|  |  |  | 4203366 |
| **Singapore 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<sup>b</sup> Yangzijiang Financial Holding Ltd. | Capital Markets | 120400 | 31868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yanlord Land Group Ltd. | Real Estate Management & Development | 30800 | 23424 |
|  |  |  | 55292 |
| **Total Investments (Cost $137,316,028)** |  |  |  |
| **99.9%** |  |  | 105334120 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.1%** |  |  | 127621 |
| **Net Assets 100.0%** |  |  | $105461741 |

---

<sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br>buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $13,587,794, representing 12.9% of net assets.<br><sup>b</sup>Non-income producing.<br><sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br>Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br>from registration. At December 31, 2022, the value of was $1,599,532, representing 1.5% of net assets.<br><sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements.<br><sup>e</sup>Includes common and convertible preferred stocks, warrants, as well as other equity investments.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** | **Equity Contracts** |  |  |  |  |  |
| MSCI China Future | MSCI China Future | Long | 4 | $96480 | 3/17/23 | $435 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **ADR** | American Depositary Receipt |  |  |  |  |  |
| **SF** | Single Family |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin FTSE Europe ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 98.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Australia 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Glencore PLC | Metals & Mining | 58167 | $386509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto PLC | Metals & Mining | 4941 | 344606 |
|  |  |  | 731115 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Austria 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ANDRITZ AG | Machinery | 315 | 18002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erste Group Bank AG | Banks | 1458 | 46526 |
| &nbsp;&nbsp;&nbsp;&nbsp; OMV AG | Oil, Gas & Consumable Fuels | 639 | 32803 |
| &nbsp;&nbsp; <sup>a</sup> Raiffeisen Bank International AG | Banks | 585 | 9584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telekom Austria AG | Diversified Telecommunication Services | 648 | 3997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verbund AG | Electric Utilities | 297 | 24930 |
| &nbsp;&nbsp;&nbsp;&nbsp; voestalpine AG | Metals & Mining | 513 | 13567 |
|  |  |  | 149409 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Belgium 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ackermans & van Haaren NV | Diversified Financial Services | 99 | 16926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ageas SA/NV | Insurance | 846 | 37398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA/NV | Beverages | 3870 | 232409 |
| &nbsp;&nbsp;&nbsp;&nbsp; D'ieteren Group | Distributors | 108 | 20655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elia Group SA/NV | Electric Utilities | 180 | 25512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etablissements Franz Colruyt NV | Food & Staples Retailing | 234 | 5319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | Diversified Financial Services | 441 | 35102 |
| &nbsp;&nbsp;&nbsp;&nbsp; KBC Group NV | Banks | 1215 | 77906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Proximus SADP | Diversified Telecommunication Services | 639 | 6135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sofina SA | Diversified Financial Services | 72 | 15799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solvay SA | Chemicals | 315 | 31756 |
| &nbsp;&nbsp;&nbsp;&nbsp; UCB SA | Pharmaceuticals | 549 | 43100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Umicore SA | Chemicals | 936 | 34284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA | Equity Real Estate Investment Trusts (REITs) | 630 | 17952 |
|  |  |  | 600253 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Bermuda 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hiscox Ltd. | Insurance | 1512 | 19816 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Chile 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Antofagasta PLC | Metals & Mining | 1557 | 28946 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Denmark 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, A | Marine | 13 | 28676 |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, B | Marine | 24 | 53801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlsberg A/S, B | Beverages | 423 | 56045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chr. Hansen Holding A/S | Chemicals | 468 | 33563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coloplast A/S, B | Health Care Equipment & Supplies | 603 | 70271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danske Bank A/S | Banks | 2979 | 58700 |
| &nbsp;&nbsp; <sup>a</sup> Demant A/S | Health Care Equipment & Supplies | 432 | 11938 |
| &nbsp;&nbsp;&nbsp;&nbsp; DSV A/S | Air Freight & Logistics | 828 | 130299 |
| &nbsp;&nbsp; <sup>a</sup> Genmab A/S | Biotechnology | 297 | 125358 |
| &nbsp;&nbsp;&nbsp;&nbsp; GN Store Nord A/S | Health Care Equipment & Supplies | 585 | 13412 |
| &nbsp;&nbsp;&nbsp;&nbsp; H Lundbeck A/S | Pharmaceuticals | 1116 | 4172 |
| &nbsp;&nbsp; <sup>a</sup> H Lundbeck A/S, A | Pharmaceuticals | 279 | 956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S, B | Pharmaceuticals | 7074 | 952290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novozymes A/S | Chemicals | 891 | 44998 |
| &nbsp;&nbsp; <sup>b</sup> Orsted A/S, 144A | Electric Utilities | 855 | 77465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pandora A/S | Textiles, Apparel & Luxury Goods | 414 | 29001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwool International A/S, B | Building Products | 27 | 6328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Unibrew A/S | Beverages | 225 | 15994 |
| &nbsp;&nbsp;&nbsp;&nbsp; SimCorp A/S | Software | 180 | 12353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tryg A/S | Insurance | 1602 | 38016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | Electrical Equipment | 4527 | 131304 |
|  |  |  | 1894940 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Finland 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Elisa OYJ | Diversified Telecommunication Services | 648 | 34205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortum OYJ, Reg S | Electric Utilities | 2025 | 33585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huhtamaki OYJ | Containers & Packaging | 423 | 14446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kesko OYJ | Food & Staples Retailing | 1224 | 26936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kojamo Oyj | Real Estate Management & Development | 891 | 13123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kojamo Oyj | Machinery | 765 | 20542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kone OYJ, B | Machinery | 1476 | 76085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metso Outotec OYJ | Machinery | 2763 | 28344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neste OYJ | Oil, Gas & Consumable Fuels | 1863 | 85536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nokia OYJ | Communications Equipment | 25371 | 117163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp | Banks | 15822 | 169367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orion OYJ | Pharmaceuticals | 495 | 27070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sampo OYJ, A | Insurance | 2205 | 114887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stora Enso OYJ, R | Paper & Forest Products | 2646 | 37135 |
| &nbsp;&nbsp;&nbsp;&nbsp; UPM-Kymmene OYJ | Paper & Forest Products | 2403 | 89581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | Machinery | 2250 | 18894 |
|  |  |  | 906899 |
| &nbsp;&nbsp;&nbsp;&nbsp; **France 16.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Accor SA | Hotels, Restaurants & Leisure | 837 | 20858 |
| &nbsp;&nbsp; <sup>a</sup> Aeroports de Paris | Transportation Infrastructure | 126 | 16836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Liquide SA | Chemicals | 2313 | 326836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbus SE | Aerospace & Defense | 2529 | 299651 |
| &nbsp;&nbsp; <sup>b</sup> ALD SA, 144A | Road & Rail | 360 | 4134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alstom SA | Machinery | 1341 | 32660 |
| &nbsp;&nbsp; <sup>b</sup> Amundi SA, 144A | Capital Markets | 261 | 14763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arkema SA | Chemicals | 297 | 26588 |
| &nbsp;&nbsp;&nbsp;&nbsp; AXA SA | Insurance | 8370 | 232746 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioMerieux | Health Care Equipment & Supplies | 198 | 20692 |
| &nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA | Banks | 4833 | 274664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bollore SE | Entertainment | 4545 | 25320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bouygues SA | Construction & Engineering | 963 | 28818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bureau Veritas SA | Professional Services | 1287 | 33803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capgemini SE | IT Services | 720 | 119835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrefour SA | Food & Staples Retailing | 2736 | 45669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | Auto Components | 3231 | 89604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compagnie de Saint-Gobain | Building Products | 2106 | 102604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Covivio | Equity Real Estate Investment Trusts (REITs) | 225 | 13315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA | Banks | 5580 | 58546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danone SA | Food Products | 2745 | 144224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Aviation SA | Aerospace & Defense | 99 | 16715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Systemes SE | Software | 2988 | 106814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edenred | IT Services | 1125 | 61089 |
| &nbsp;&nbsp;&nbsp;&nbsp; EDF SA | Electric Utilities | 2772 | 35501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eiffage SA | Construction & Engineering | 333 | 32668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engie SA | Multi-Utilities | 7524 | 107505 |
| &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA | Textiles, Apparel & Luxury Goods | 1341 | 242156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eurazeo SE | Diversified Financial Services | 207 | 12836 |
| &nbsp;&nbsp; <sup>a</sup> Faurecia SE | Auto Components | 707 | 10662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gecina SA | Equity Real Estate Investment Trusts (REITs) | 234 | 23762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Getlink SE | Transportation Infrastructure | 1593 | 25459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hermes International | Textiles, Apparel & Luxury Goods | 139 | 214362 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICADE | Equity Real Estate Investment Trusts (REITs) | 144 | 6184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ipsen SA | Pharmaceuticals | 153 | 16411 |
| &nbsp;&nbsp; <sup>a</sup> JCDecaux SE | Media | 342 | 6468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kering SA | Textiles, Apparel & Luxury Goods | 333 | 168990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Klepierre SA | Equity Real Estate Investment Trusts (REITs) | 846 | 19439 |
| &nbsp;&nbsp; <sup>b</sup> La Francaise des Jeux SAEM, 144A | Hotels, Restaurants & Leisure | 396 | 15883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legrand SA | Electrical Equipment | 1224 | 97738 |
| &nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | Personal Products | 1116 | 397335 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | Textiles, Apparel & Luxury Goods | 1125 | 816326 |
| &nbsp;&nbsp; <sup>b</sup> Neoen SA, 144A | Independent Power Producers & Energy Traders | 198 | 7948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orange SA | Diversified Telecommunication Services | 8604 | 85224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pernod Ricard SA | Beverages | 936 | 183556 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Publicis Groupe SA | Media | 1017 | 64494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Remy Cointreau SA | Beverages | 108.0 | 18165 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Renault SA | Automobiles | 837.0 | 27938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rexel SA | Trading Companies & Distributors | 1080.0 | 21255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safran SA | Aerospace & Defense | 1575.0 | 196533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanofi | Pharmaceuticals | 4932.0 | 472889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | Life Sciences Tools & Services | 108.0 | 34867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | Electrical Equipment | 2412.0 | 336500 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCOR SE | Insurance | 720.0 | 16513 |
| &nbsp;&nbsp;&nbsp;&nbsp; SEB SA | Household Durables | 135.0 | 11274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA | Banks | 3510.0 | 87957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sodexo SA | Hotels, Restaurants & Leisure | 396.0 | 37817 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> SOITEC | Semiconductors & Semiconductor Equipment | 126.0 | 20554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Somfy SA | Electrical Equipment | 36.0 | 5494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleperformance | Professional Services | 261.0 | 62034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thales SA | Aerospace & Defense | 459.0 | 58441 |
| &nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE | Oil, Gas & Consumable Fuels | 10548.0 | 660244 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ubisoft Entertainment SA | Entertainment | 405.0 | 11415 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Unibail-Rodamco-Westfield | Equity Real Estate Investment Trusts (REITs) | 364.0 | 18892 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Unibail-Rodamco-Westfield | Equity Real Estate Investment Trusts (REITs) | 104.0 | 5398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valeo | Auto Components | 1098.0 | 19570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veolia Environnement SA | Multi-Utilities | 2871.0 | 73538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vinci SA | Construction & Engineering | 2241.0 | 223122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivendi SA | Media | 3168.0 | 30139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wendel SE | Diversified Financial Services | 126.0 | 11726 |
| <sup>a,b,c</sup> Worldline SA, 144A, Reg S | IT Services | 1107.0 | 43158 |
|  |  |  | 7213124 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Germany 11.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1&1 Drillisch AG | Wireless Telecommunication Services | 198.0 | 2451 |
| &nbsp;&nbsp;&nbsp;&nbsp; adidas AG | Textiles, Apparel & Luxury Goods | 756.0 | 102840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allianz SE | Insurance | 1845.0 | 395587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aroundtown SA | Real Estate Management & Development | 3753.0 | 8744 |
| &nbsp;&nbsp;&nbsp;&nbsp; BASF SE | Chemicals | 4167.0 | 206307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayer AG | Pharmaceuticals | 4464.0 | 230230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | Automobiles | 1458.0 | 129743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bechtle AG | IT Services | 387.0 | 13655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beiersdorf AG | Personal Products | 450.0 | 51484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brenntag SE | Trading Companies & Distributors | 702.0 | 44743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carl Zeiss Meditec AG | Health Care Equipment & Supplies | 180.0 | 22649 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Commerzbank AG | Banks | 4734.0 | 44643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Continental AG | Auto Components | 477.0 | 28498 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Covestro AG, 144A | Chemicals | 819.0 | 31948 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> CTS Eventim AG & Co. KGaA | Entertainment | 261.0 | 16602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Daimler AG | Automobiles | 3798.0 | 248880 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Daimler Truck Holding AG | Machinery | 1908.0 | 58941 |
| <sup>a,b</sup> Delivery Hero SE, 144A | Internet & Direct Marketing Retail | 882.0 | 42152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG | Capital Markets | 9126.0 | 103124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Boerse AG | Capital Markets | 819.0 | 141076 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Deutsche Lufthansa AG | Airlines | 2700.0 | 22375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Post AG | Air Freight & Logistics | 4383.0 | 164563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom AG | Diversified Telecommunication Services | 15336.0 | 305055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Wohnen SE | Real Estate Management & Development | 198.0 | 4202 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> DWS Group GmbH & Co. KGaA, 144A | Capital Markets | 162.0 | 5249 |
| &nbsp;&nbsp;&nbsp;&nbsp; E.ON SE | Multi-Utilities | 10044.0 | 100055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evonik Industries AG | Chemicals | 882.0 | 16883 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Evotec SE | Life Sciences Tools & Services | 711.0 | 11580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fielmann AG | Specialty Retail | 108.0 | 4267 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Fraport AG Frankfurt Airport Services Worldwide | Transportation Infrastructure | 162.0 | 6579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresenius Medical Care AG & Co. KGaA | Health Care Providers & Services | 954.0 | 31125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | Health Care Providers & Services | 1809.0 | 50680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fuchs Petrolub SE | Chemicals | 153.0 | 4539 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEA Group AG | Machinery | 747.0 | 30454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hannover Rueck SE | Insurance | 270.0 | 53453 |
| &nbsp;&nbsp;&nbsp;&nbsp; HeidelbergCement AG | Construction Materials | 639.0 | 36336 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hella GmbH & Co. KGaA | Auto Components | 99 | 8035 |
| &nbsp;&nbsp; <sup>a</sup> HelloFresh SE | Internet & Direct Marketing Retail | 738 | 16170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | Household Products | 459 | 29515 |
| &nbsp;&nbsp;&nbsp;&nbsp; HOCHTIEF AG | Construction & Engineering | 90 | 5060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infineon Technologies AG | Semiconductors & Semiconductor Equipment | 5886 | 178592 |
| &nbsp;&nbsp;&nbsp;&nbsp; KION Group AG | Machinery | 369 | 10542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Knorr-Bremse AG | Machinery | 297 | 16178 |
| &nbsp;&nbsp;&nbsp;&nbsp; LANXESS AG | Chemicals | 378 | 15209 |
| &nbsp;&nbsp;&nbsp;&nbsp; LEG Immobilien SE | Real Estate Management & Development | 324 | 21045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck KGaA | Pharmaceuticals | 585 | 112943 |
| &nbsp;&nbsp; <sup>a</sup> METRO AG | Food & Staples Retailing | 603 | 5872 |
| &nbsp;&nbsp;&nbsp;&nbsp; MTU Aero Engines AG | Aerospace & Defense | 234 | 50497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft |  |  |  |
| Aktiengesellschaft in Muenchen | Insurance | 639 | 207320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nemetschek SE | Software | 243 | 12368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Puma SE | Textiles, Apparel & Luxury Goods | 450 | 27231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rational AG | Machinery | 18 | 10662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rheinmetall AG | Industrial Conglomerates | 198 | 39315 |
| &nbsp;&nbsp;&nbsp;&nbsp; RWE AG | Multi-Utilities | 2853 | 126636 |
| &nbsp;&nbsp;&nbsp;&nbsp; SAP SE | Software | 5022 | 516624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sartorius AG | Health Care Equipment & Supplies | 9 | 3213 |
| <sup>b,c</sup> Scout24 AG, 144A, Reg S | Interactive Media & Services | 342 | 17129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens AG | Industrial Conglomerates | 3420 | 473185 |
| &nbsp;&nbsp; <sup>a</sup> Siemens Energy AG | Electrical Equipment | 1935 | 36295 |
| &nbsp;&nbsp; <sup>b</sup> Siemens Healthineers AG, 144A | Health Care Equipment & Supplies | 1278 | 63737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sixt SE | Road & Rail | 63 | 5779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symrise AG | Chemicals | 585 | 63464 |
| &nbsp;&nbsp; <sup>a</sup> Talanx AG | Insurance | 234 | 11068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonica Deutschland Holding AG | Diversified Telecommunication Services | 4113 | 10109 |
| &nbsp;&nbsp; <sup>a</sup> thyssenkrupp AG | Metals & Mining | 2250 | 13678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Traton SE | Machinery | 225 | 3393 |
| &nbsp;&nbsp; <sup>a</sup> TUI AG | Hotels, Restaurants & Leisure | 5427 | 8754 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Internet AG | Diversified Telecommunication Services | 495 | 9979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vantage Towers AG | Diversified Telecommunication Services | 432 | 14800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varta AG | Electrical Equipment | 63 | 1516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Volkswagen AG | Automobiles | 126 | 19855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vonovia SE | Real Estate Management & Development | 3348 | 78681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wacker Chemie AG | Chemicals | 72 | 9175 |
| <sup>a,b</sup> Zalando SE, 144A | Internet & Direct Marketing Retail | 990 | 34983 |
|  |  |  | 5060299 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Ireland 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AIB Group PLC | Banks | 4869 | 18790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC | Banks | 4806 | 45650 |
| &nbsp;&nbsp;&nbsp;&nbsp; CRH PLC | Construction Materials | 3357 | 133218 |
| &nbsp;&nbsp;&nbsp;&nbsp; DCC PLC | Industrial Conglomerates | 450 | 22085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Experian PLC | Professional Services | 4140 | 140088 |
| &nbsp;&nbsp; <sup>a</sup> Flutter Entertainment PLC | Hotels, Restaurants & Leisure | 792 | 107559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glanbia PLC | Food Products | 873 | 11106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kerry Group PLC, A | Food Products | 693 | 62304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingspan Group PLC | Building Products | 666 | 35952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smurfit Kappa Group PLC | Containers & Packaging | 1179 | 43554 |
|  |  |  | 620306 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Isle Of Man 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Entain PLC | Hotels, Restaurants & Leisure | 2637 | 41919 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Italy 3.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; A2A SpA | Multi-Utilities | 7029 | 9340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amplifon SpA | Health Care Providers & Services | 603 | 17904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | Insurance | 6066 | 107564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | Diversified Financial Services | 1044 | 8689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Buzzi Unicem SpA | Construction Materials | 387 | 7434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Davide Campari-Milano NV | Beverages | 2250 | 22774 |
| &nbsp;&nbsp;&nbsp;&nbsp; De' Longhi SpA | Household Durables | 288 | 6449 |
| &nbsp;&nbsp;&nbsp;&nbsp; DiaSorin SpA | Health Care Equipment & Supplies | 99 | 13778 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Enel SpA | Electric Utilities | 35127.0 | 188571 |
| &nbsp;&nbsp;&nbsp; Eni SpA | Oil, Gas & Consumable Fuels | 10134.0 | 143695 |
| &nbsp;&nbsp;&nbsp; Ferrari NV | Automobiles | 549.0 | 117301 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | Banks | 2763.0 | 45765 |
| &nbsp;&nbsp;&nbsp; Hera SpA | Multi-Utilities | 3753.0 | 10090 |
| <sup>b,c</sup> Infrastrutture Wireless Italiane SpA, 144A, Reg S | Diversified Telecommunication Services | 1494.0 | 15010 |
| &nbsp;&nbsp;&nbsp; Interpump Group SpA | Machinery | 360.0 | 16198 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | Banks | 73350.0 | 162671 |
| &nbsp;&nbsp;&nbsp; Italgas SpA | Gas Utilities | 2277.0 | 12612 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA | Aerospace & Defense | 1827.0 | 15716 |
| &nbsp;&nbsp;&nbsp; Mediobanca Banca di Credito Finanziario SpA | Banks | 2952.0 | 28304 |
| &nbsp;&nbsp;&nbsp; Moncler SpA | Textiles, Apparel & Luxury Goods | 918.0 | 48497 |
| <sup>a,b</sup> Nexi SpA, 144A | IT Services | 2511.0 | 19740 |
| &nbsp;&nbsp; <sup>b</sup> Pirelli & C SpA, 144A | Auto Components | 2115.0 | 9038 |
| <sup>b,c</sup> Poste Italiane SpA, 144A, Reg S | Insurance | 2079.0 | 20249 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | Electrical Equipment | 1170.0 | 43279 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | Pharmaceuticals | 432.0 | 17866 |
| &nbsp;&nbsp;&nbsp; Reply SpA | IT Services | 99.0 | 11305 |
| &nbsp;&nbsp;&nbsp; Snam SpA | Gas Utilities | 9981.0 | 48223 |
| &nbsp;&nbsp; <sup>a</sup> Telecom Italia SpA | Diversified Telecommunication Services | 48339.0 | 11159 |
| &nbsp;&nbsp; <sup>a</sup> Telecom Italia SpA/Milano | Diversified Telecommunication Services | 27675.0 | 6152 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | Energy Equipment & Services | 2124.0 | 36915 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | Electric Utilities | 6408.0 | 47189 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | Banks | 8604.0 | 121872 |
| &nbsp;&nbsp;&nbsp; UnipolSai Assicurazioni SpA | Insurance | 2160.0 | 5307 |
|  |  |  | 1396656 |
| &nbsp;&nbsp;&nbsp; **Luxembourg 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; ArcelorMittal SA | Metals & Mining | 2160.0 | 56652 |
| &nbsp;&nbsp;&nbsp; Eurofins Scientific SE | Life Sciences Tools & Services | 549.0 | 39292 |
| &nbsp;&nbsp;&nbsp; RTL Group SA | Media | 171.0 | 7198 |
| &nbsp;&nbsp; <sup>a</sup> SUSE SA | Software | 162.0 | 2911 |
|  |  |  | 106053 |
| &nbsp;&nbsp;&nbsp; **Mexico 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; Fresnillo PLC | Metals & Mining | 855.0 | 9275 |
| &nbsp;&nbsp;&nbsp; **Netherlands 8.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Aalberts NV | Machinery | 432.0 | 16704 |
| &nbsp;&nbsp; <sup>b</sup> ABN AMRO Bank NV, 144A | Banks | 1881.0 | 25947 |
| <sup>a,b</sup> Adyen NV, 144A | IT Services | 135.0 | 185631 |
| &nbsp;&nbsp;&nbsp; Aegon NV | Insurance | 7983.0 | 40367 |
| &nbsp;&nbsp;&nbsp; Akzo Nobel NV | Chemicals | 801.0 | 53481 |
| &nbsp;&nbsp; <sup>a</sup> Argenx SE | Biotechnology | 198.0 | 73601 |
| &nbsp;&nbsp; <sup>a</sup> Argenx SE | Biotechnology | 54.0 | 20073 |
| &nbsp;&nbsp;&nbsp; ASM International NV | Semiconductors & Semiconductor Equipment | 207.0 | 52060 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | Semiconductors & Semiconductor Equipment | 1818.0 | 977503 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | Insurance | 657.0 | 31098 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | Semiconductors & Semiconductor Equipment | 378.0 | 22818 |
| &nbsp;&nbsp; <sup>b</sup> CTP NV, 144A | Real Estate Management & Development | 495.0 | 5832 |
| <sup>b,c</sup> Euronext NV, 144A, Reg S | Capital Markets | 369.0 | 27236 |
| &nbsp;&nbsp; <sup>a</sup> EXOR NV | Diversified Financial Services | 486.0 | 35426 |
| &nbsp;&nbsp;&nbsp; Heineken Holding NV | Beverages | 477.0 | 36679 |
| &nbsp;&nbsp;&nbsp; Heineken NV | Beverages | 1071.0 | 100449 |
| &nbsp;&nbsp;&nbsp; IMCD Group NV | Trading Companies & Distributors | 243.0 | 34531 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | Banks | 16803.0 | 204221 |
| &nbsp;&nbsp;&nbsp; JDE Peet's NV | Food Products | 369.0 | 10641 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | Food & Staples Retailing | 4428.0 | 126840 |
| &nbsp;&nbsp;&nbsp; Koninklijke DSM NV | Chemicals | 792.0 | 96613 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | Diversified Telecommunication Services | 14535.0 | 44831 |
| &nbsp;&nbsp;&nbsp; Koninklijke Philips NV | Health Care Equipment & Supplies | 3996.0 | 59723 |
| &nbsp;&nbsp;&nbsp; Koninklijke Vopak NV | Oil, Gas & Consumable Fuels | 297.0 | 8796 |
| &nbsp;&nbsp;&nbsp; NN Group NV | Insurance | 1350.0 | 54981 |
| &nbsp;&nbsp;&nbsp; OCI NV | Chemicals | 432.0 | 15408 |
| &nbsp;&nbsp;&nbsp; Prosus NV | Internet & Direct Marketing Retail | 3780.0 | 260004 |
| &nbsp;&nbsp; <sup>a</sup> QIAGEN NV | Life Sciences Tools & Services | 999.0 | 50121 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Randstad NV | Professional Services | 504 | 30639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC | Oil, Gas & Consumable Fuels | 32130 | 898980 |
| &nbsp;&nbsp; <sup>b</sup> Signify NV, 144A | Electrical Equipment | 567 | 18989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Music Group NV | Entertainment | 3420 | 82161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wolters Kluwer NV | Professional Services | 1125 | 117376 |
|  |  |  | 3819760 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Nigeria 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>b</sup> Airtel Africa PLC, 144A | Wireless Telecommunication Services | 4518 | 6076 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Norway 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Adevinta ASA, B | Interactive Media & Services | 1305 | 8690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aker ASA | Diversified Financial Services | 108 | 7888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aker BP ASA | Oil, Gas & Consumable Fuels | 1388 | 42847 |
| <sup>a,b</sup> AutoStore Holdings Ltd., 144A | Machinery | 2673 | 4864 |
| &nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA | Banks | 4608 | 90958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinor ASA | Oil, Gas & Consumable Fuels | 4248 | 151705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | Insurance | 747 | 14574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | Aerospace & Defense | 333 | 14049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leroy Seafood Group ASA | Food Products | 1188 | 6651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mowi ASA | Food Products | 2007 | 34065 |
| &nbsp;&nbsp; <sup>a</sup> Nordic Semiconductor ASA | Semiconductors & Semiconductor Equipment | 702 | 11680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norsk Hydro ASA | Metals & Mining | 6057 | 45082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orkla ASA | Food Products | 3456 | 24888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salmar ASA | Food Products | 243 | 9492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schibsted ASA, A | Media | 351 | 6610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schibsted ASA, B | Media | 450 | 8181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telenor ASA | Diversified Telecommunication Services | 2880 | 26780 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOMRA Systems ASA | Commercial Services & Supplies | 1044 | 17550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Var Energi ASA | Oil, Gas & Consumable Fuels | 1827 | 6232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yara International ASA | Chemicals | 711 | 31079 |
|  |  |  | 563865 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Poland 0.4%** |  |  |  |
| <sup>a,b</sup> Allegro.eu SA, 144A | Internet & Direct Marketing Retail | 1773 | 10158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank Pekao SA | Banks | 711 | 14021 |
| <sup>a,b</sup> Dino Polska SA, 144A | Food & Staples Retailing | 216 | 18482 |
| &nbsp;&nbsp; <sup>a</sup> InPost SA | Air Freight & Logistics | 909 | 7643 |
| &nbsp;&nbsp;&nbsp;&nbsp; KGHM Polska Miedz SA | Metals & Mining | 621 | 17945 |
| &nbsp;&nbsp;&nbsp;&nbsp; LPP SA | Textiles, Apparel & Luxury Goods | 5 | 12140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polski Koncern Naftowy ORLEN SA | Oil, Gas & Consumable Fuels | 2590 | 37932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski SA | Banks | 3879 | 26787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | Insurance | 2520 | 20350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Santander Bank Polska SA | Banks | 135 | 7984 |
|  |  |  | 173442 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Portugal 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; EDP - Energias de Portugal SA | Electric Utilities | 12654 | 62879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Galp Energia SGPS SA, B | Oil, Gas & Consumable Fuels | 2340 | 31492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | Food & Staples Retailing | 1215 | 26167 |
|  |  |  | 120538 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Evraz PLC | Metals & Mining | 10404 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Spain 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acciona SA | Electric Utilities | 108 | 19814 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | Construction & Engineering | 982 | 28056 |
| <sup>a,b</sup> Aena SME SA, 144A | Transportation Infrastructure | 324 | 40561 |
| &nbsp;&nbsp; <sup>a</sup> Amadeus IT Group SA | IT Services | 2034 | 105392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | Banks | 27225 | 163701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA | Banks | 75042 | 224448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bankinter SA | Banks | 3114 | 20831 |
| &nbsp;&nbsp;&nbsp;&nbsp; CaixaBank SA | Banks | 18720 | 73363 |
| &nbsp;&nbsp; <sup>b</sup> Cellnex Telecom SA, 144A | Diversified Telecommunication Services | 2538 | 83752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corp. ACCIONA Energias Renovables SA | Independent Power Producers & Energy Traders | 225 | 8678 |
| &nbsp;&nbsp;&nbsp;&nbsp; EDP Renovaveis SA | Independent Power Producers & Energy Traders | 1080 | 23721 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Enagas SA | Gas Utilities | 1125 | 18640 |
| &nbsp;&nbsp;&nbsp; Endesa SA | Electric Utilities | 1440 | 27102 |
| &nbsp;&nbsp;&nbsp; Ferrovial SA | Construction & Engineering | 2088 | 54529 |
| &nbsp;&nbsp;&nbsp; Fluidra SA | Machinery | 486 | 7531 |
| <sup>a</sup> Grifols SA | Biotechnology | 1503 | 17276 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | Electric Utilities | 26937 | 314221 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | Specialty Retail | 4779 | 126745 |
| &nbsp;&nbsp;&nbsp; Inmobiliaria Colonial SA | Equity Real Estate Investment Trusts (REITs) | 1503 | 9641 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | Insurance | 4365 | 8432 |
| &nbsp;&nbsp;&nbsp; Merlin Properties Socimi SA | Equity Real Estate Investment Trusts (REITs) | 1512 | 14160 |
| &nbsp;&nbsp;&nbsp; Naturgy Energy Group SA | Gas Utilities | 666 | 17279 |
| &nbsp;&nbsp;&nbsp; Red Electrica Corp. SA | Electric Utilities | 1962 | 34048 |
| &nbsp;&nbsp;&nbsp; Repsol SA | Oil, Gas & Consumable Fuels | 5706 | 90432 |
| &nbsp;&nbsp;&nbsp; Telefonica SA | Diversified Telecommunication Services | 22419 | 80992 |
|  |  |  | 1613345 |
| &nbsp;&nbsp;&nbsp; **Sweden 4.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Alfa Laval AB | Machinery | 1368 | 39532 |
| <sup>a</sup> Alleima AB | Metals & Mining | 967 | 3566 |
| &nbsp;&nbsp;&nbsp; Assa Abloy AB, B | Building Products | 4185 | 89849 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, A | Machinery | 11385 | 134507 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, B | Machinery | 6750 | 71973 |
| &nbsp;&nbsp;&nbsp; Axfood AB | Food & Staples Retailing | 486 | 13335 |
| &nbsp;&nbsp;&nbsp; Beijer Ref AB | Trading Companies & Distributors | 1107 | 15628 |
| &nbsp;&nbsp;&nbsp; Boliden AB | Metals & Mining | 1242 | 46637 |
| &nbsp;&nbsp;&nbsp; Castellum AB | Real Estate Management & Development | 1134 | 13740 |
| &nbsp;&nbsp;&nbsp; Electrolux AB, B | Household Durables | 1035 | 13984 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, A | Machinery | 2826 | 51492 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, B | Machinery | 1719 | 27659 |
| &nbsp;&nbsp;&nbsp; EQT AB | Capital Markets | 1503 | 31821 |
| &nbsp;&nbsp;&nbsp; Essity AB, B | Household Products | 2799 | 73417 |
| <sup>b,c</sup> Evolution Gaming Group AB, 144A, Reg S | Hotels, Restaurants & Leisure | 702 | 68411 |
| <sup>a</sup> Fastighets AB Balder, B | Real Estate Management & Development | 2700 | 12573 |
| &nbsp;&nbsp;&nbsp; Getinge AB, B | Health Care Equipment & Supplies | 1017 | 21112 |
| &nbsp;&nbsp;&nbsp; Hennes & Mauritz AB, B | Specialty Retail | 2988 | 32187 |
| &nbsp;&nbsp;&nbsp; Hexagon AB, B | Electronic Equipment, Instruments & Components | 8433 | 88219 |
| &nbsp;&nbsp;&nbsp; Holmen AB, B | Paper & Forest Products | 432 | 17161 |
| &nbsp;&nbsp;&nbsp; Husqvarna AB, A | Household Durables | 117 | 825 |
| &nbsp;&nbsp;&nbsp; Husqvarna AB, B | Household Durables | 1926 | 13516 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, A | Diversified Financial Services | 567 | 13795 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, C | Diversified Financial Services | 657 | 15953 |
| &nbsp;&nbsp;&nbsp; Indutrade AB | Machinery | 1269 | 25710 |
| &nbsp;&nbsp;&nbsp; Investment AB Latour, B | Industrial Conglomerates | 639 | 12088 |
| &nbsp;&nbsp;&nbsp; Investor AB, A | Diversified Financial Services | 2412 | 44874 |
| &nbsp;&nbsp;&nbsp; Investor AB, B | Diversified Financial Services | 8208 | 148539 |
| <sup>a</sup> Kinnevik AB, B | Diversified Financial Services | 1089 | 14967 |
| &nbsp;&nbsp;&nbsp; L E Lundbergforetagen AB, B | Diversified Financial Services | 342 | 14577 |
| &nbsp;&nbsp;&nbsp; Lifco AB, B | Industrial Conglomerates | 1035 | 17299 |
| &nbsp;&nbsp;&nbsp; Nibe Industrier AB, B | Building Products | 6534 | 60891 |
| &nbsp;&nbsp;&nbsp; Saab AB, B | Aerospace & Defense | 414 | 16318 |
| &nbsp;&nbsp;&nbsp; Sagax AB, B | Real Estate Management & Development | 774 | 17568 |
| &nbsp;&nbsp;&nbsp; Sagax AB, D | Real Estate Management & Development | 540 | 1384 |
| &nbsp;&nbsp;&nbsp; Sandvik AB | Machinery | 4842 | 87551 |
| &nbsp;&nbsp;&nbsp; Securitas AB, B | Commercial Services & Supplies | 2191 | 18286 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, A | Banks | 6435 | 74080 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, C | Banks | 99 | 1180 |
| &nbsp;&nbsp;&nbsp; Skanska AB, B | Construction & Engineering | 1629 | 25796 |
| &nbsp;&nbsp;&nbsp; SKF AB, B | Machinery | 1737 | 26531 |
| &nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, A | Paper & Forest Products | 108 | 1383 |
| &nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, B | Paper & Forest Products | 2691 | 34078 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, A | Banks | 6876 | 69357 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, B | Banks | 171 | 2005 |
| &nbsp;&nbsp;&nbsp; Sweco AB, B | Construction & Engineering | 900 | 8625 |
| &nbsp;&nbsp;&nbsp; Swedbank AB, A | Banks | 4554 | 77492 |
| <sup>a</sup> Swedish Orphan Biovitrum AB | Biotechnology | 810 | 16768 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Tele2 AB, B | Wireless Telecommunication Services | 2475 | 20214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, A | Communications Equipment | 171 | 1083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, B | Communications Equipment | 13500 | 78905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telia Co. AB | Diversified Telecommunication Services | 11682 | 29890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trelleborg AB, B | Machinery | 1098 | 25375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vitrolife AB | Biotechnology | 297 | 5308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Volvo AB, A | Machinery | 936 | 17796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Volvo AB, B | Machinery | 6858 | 124055 |
| &nbsp;&nbsp; <sup>a</sup> Volvo Car AB, B | Automobiles | 2457 | 11173 |
|  |  |  | 2042038 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Switzerland 14.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ABB Ltd. | Electrical Equipment | 6876 | 208539 |
| &nbsp;&nbsp; <sup>a</sup> Accelleron Industries AG | Electrical Equipment | 343 | 7098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adecco Group AG | Professional Services | 729 | 24001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcon Inc. | Health Care Equipment & Supplies | 2061 | 140741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bachem Holding AG, B | Life Sciences Tools & Services | 144 | 12428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baloise Holding AG | Insurance | 207 | 31927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banque Cantonale Vaudoise | Banks | 126 | 12087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barry Callebaut AG | Food Products | 18 | 35584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Belimo Holding AG | Building Products | 36 | 17121 |
| &nbsp;&nbsp;&nbsp;&nbsp; BKW AG | Electric Utilities | 81 | 11075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG | Food Products | 9 | 91732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA | Textiles, Apparel & Luxury Goods | 2295 | 297417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clariant AG | Chemicals | 1035 | 16389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | Beverages | 891 | 21146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG | Capital Markets | 15204 | 45421 |
| &nbsp;&nbsp;&nbsp;&nbsp; DKSH Holding AG | Professional Services | 162 | 12292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emmi AG | Food Products | 9 | 7617 |
| &nbsp;&nbsp;&nbsp;&nbsp; EMS-Chemie Holding AG | Chemicals | 36 | 24358 |
| &nbsp;&nbsp; <sup>a</sup> Flughafen Zurich AG | Transportation Infrastructure | 90 | 13920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Geberit AG | Building Products | 153 | 72018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Georg Fischer AG | Machinery | 360 | 22023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Givaudan SA | Chemicals | 36 | 110233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helvetia Holding AG | Insurance | 162 | 18876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Julius Baer Group Ltd. | Capital Markets | 972 | 56584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kuehne + Nagel International AG | Marine | 225 | 52335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Logitech International SA | Technology Hardware, Storage & Peripherals | 666 | 41074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lonza Group AG | Life Sciences Tools & Services | 333 | 163081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nestle SA | Food Products | 12204 | 1413247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novartis AG | Pharmaceuticals | 9144 | 826142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Partners Group Holding AG | Capital Markets | 99 | 87401 |
| &nbsp;&nbsp;&nbsp;&nbsp; PSP Swiss Property AG | Real Estate Management & Development | 198 | 23220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG, Bearer | Pharmaceuticals | 117 | 45323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG, Non-Voting | Pharmaceuticals | 3150 | 989056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schindler Holding AG, PC | Machinery | 189 | 35524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schindler Holding AG | Machinery | 90 | 16226 |
| &nbsp;&nbsp;&nbsp;&nbsp; SGS SA | Professional Services | 27 | 62743 |
| &nbsp;&nbsp;&nbsp;&nbsp; SIG Combibloc Group AG | Containers & Packaging | 1494 | 32619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sika AG | Chemicals | 657 | 157433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonova Holding AG | Health Care Equipment & Supplies | 216 | 51198 |
| &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics NV | Semiconductors & Semiconductor Equipment | 2844 | 100148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Straumann Holding AG | Health Care Equipment & Supplies | 477 | 54444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Life Holding AG | Insurance | 135 | 69572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Prime Site AG | Real Estate Management & Development | 342 | 29627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Re AG | Insurance | 1305 | 121981 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swisscom AG | Diversified Telecommunication Services | 117 | 64064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tecan Group AG | Life Sciences Tools & Services | 54 | 24070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Temenos AG | Software | 279 | 15301 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Swatch Group AG | Textiles, Apparel & Luxury Goods | 135 | 38376 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Swatch Group AG | Textiles, Apparel & Luxury Goods | 207 | 10748 |
| &nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG | Capital Markets | 13473 | 250544 |
| &nbsp;&nbsp; <sup>b</sup> VAT Group AG, 144A | Machinery | 117 | 31969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | Insurance | 675 | 322690 |
|  |  |  | 6440783 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; **United Kingdom 19.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3i Group PLC | Capital Markets | 4365 | 70438 |
| &nbsp;&nbsp;&nbsp;&nbsp; abrdn PLC | Capital Markets | 9702 | 22086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Admiral Group PLC | Insurance | 1287 | 33084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allfunds Group PLC | Capital Markets | 1404 | 9777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anglo American PLC | Metals & Mining | 5463 | 212685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Group PLC | Trading Companies & Distributors | 1989 | 112929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Associated British Foods PLC | Food Products | 1584 | 30029 |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | Pharmaceuticals | 6696 | 903567 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Auto Trader Group PLC, 144A | Interactive Media & Services | 4077 | 25286 |
| &nbsp;&nbsp;&nbsp;&nbsp; AVEVA Group PLC | Software | 531 | 20523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aviva PLC | Insurance | 12816 | 68264 |
| &nbsp;&nbsp;&nbsp;&nbsp; B&M European Value Retail SA | Multiline Retail | 4014 | 19859 |
| &nbsp;&nbsp;&nbsp;&nbsp; BAE Systems PLC | Aerospace & Defense | 14013 | 144289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC | Banks | 71523 | 136383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barratt Developments PLC | Household Durables | 4446 | 21221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bellway PLC | Household Durables | 558 | 12803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkeley Group Holdings PLC | Household Durables | 450 | 20423 |
| &nbsp;&nbsp;&nbsp;&nbsp; BP PLC | Oil, Gas & Consumable Fuels | 81072 | 463130 |
| &nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | Tobacco | 10152 | 400732 |
| &nbsp;&nbsp;&nbsp;&nbsp; BT Group PLC | Diversified Telecommunication Services | 31428 | 42360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunzl PLC | Trading Companies & Distributors | 1530 | 50778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Burberry Group PLC | Textiles, Apparel & Luxury Goods | 1728 | 42196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrica PLC | Multi-Utilities | 26883 | 31212 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNH Industrial NV | Machinery | 4500 | 71871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC | Hotels, Restaurants & Leisure | 8028 | 185171 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> ConvaTec Group PLC, 144A | Health Care Equipment & Supplies | 7299 | 20422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Croda International PLC | Chemicals | 612 | 48617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals PLC | Pharmaceuticals | 477 | 15022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derwent London PLC | Equity Real Estate Investment Trusts (REITs) | 450 | 12818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diageo PLC | Beverages | 10179 | 446918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Direct Line Insurance Group PLC | Insurance | 5652 | 15046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dr Martens PLC | Textiles, Apparel & Luxury Goods | 2529 | 5798 |
| &nbsp;&nbsp;&nbsp;&nbsp; DS Smith PLC | Containers & Packaging | 5805 | 22450 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> easyJet PLC | Airlines | 1705 | 6657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Endeavour Mining PLC | Metals & Mining | 828 | 17450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferguson PLC | Trading Companies & Distributors | 945 | 118676 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSK PLC | Pharmaceuticals | 17991 | 311116 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Haleon PLC | Personal Products | 22491 | 88563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halma PLC | Electronic Equipment, Instruments & Components | 1719 | 40818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hargreaves Lansdown PLC | Capital Markets | 1719 | 17704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hikma Pharmaceuticals PLC | Pharmaceuticals | 765 | 14282 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> HomeServe PLC | Commercial Services & Supplies | 1233 | 17754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howden Joinery Group PLC | Trading Companies & Distributors | 2592 | 17510 |
| &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC | Banks | 91242 | 566007 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMI PLC | Machinery | 1161 | 17988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Imperial Brands PLC | Tobacco | 4284 | 106723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Informa PLC | Media | 6642 | 49504 |
| &nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | Hotels, Restaurants & Leisure | 774 | 44169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Capital Group PLC | Capital Markets | 1260 | 17400 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> International Consolidated Airlines Group SA | Airlines | 5151 | 7673 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Distributions Services PLC | Air Freight & Logistics | 2970 | 7610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intertek Group PLC | Professional Services | 729 | 35375 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITV PLC | Media | 17073 | 15436 |
| &nbsp;&nbsp;&nbsp;&nbsp; J Sainsbury PLC | Food & Staples Retailing | 7659 | 20057 |
| &nbsp;&nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | Specialty Retail | 11583 | 17577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Matthey PLC | Chemicals | 810 | 20724 |
| <sup>a,b,c</sup> Just Eat Takeaway.com NV, 144A, Reg S | Internet & Direct Marketing Retail | 819 | 17263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingfisher PLC | Specialty Retail | 8973 | 25484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Land Securities Group PLC | Equity Real Estate Investment Trusts (REITs) | 3240 | 24218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legal & General Group PLC | Insurance | 26856 | 80601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | Banks | 303885 | 165993 |
| &nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | Capital Markets | 1674 | 143694 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&G PLC | Diversified Financial Services | 9792 | 22126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Melrose Industries PLC | Industrial Conglomerates | 18702 | 30258 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondi PLC | Paper & Forest Products | 2223 | 37691 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC | Multi-Utilities | 16623 | 199438 |
| &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC | Banks | 23040 | 73500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Next PLC | Multiline Retail | 549 | 38342 |
| <sup>a,d</sup> NMC Health PLC | Health Care Providers & Services | 1159 |  |
| &nbsp;&nbsp; <sup>a</sup> Ocado Group PLC | Food & Staples Retailing | 2817 | 20901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pearson PLC | Media | 3411 | 38536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pennon Group PLC | Water Utilities | 1125 | 12024 |
| <sup>a,b</sup> Pepco Group NV, 144A | Multiline Retail | 486 | 4379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Persimmon PLC | Household Durables | 1440 | 21081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phoenix Group Holdings PLC | Insurance | 3195 | 23390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prudential PLC | Insurance | 12429 | 168571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | Household Products | 3240 | 224256 |
| &nbsp;&nbsp;&nbsp;&nbsp; RELX PLC | Professional Services | 8667 | 238536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Renishaw PLC | Electronic Equipment, Instruments & Components | 153 | 6751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rentokil Initial PLC | Commercial Services & Supplies | 11475 | 70121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rightmove PLC | Interactive Media & Services | 3726 | 22921 |
| &nbsp;&nbsp; <sup>a</sup> Rolls-Royce Holdings PLC | Aerospace & Defense | 37872 | 42458 |
| &nbsp;&nbsp;&nbsp;&nbsp; RS GROUP PLC | Trading Companies & Distributors | 2124 | 22880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schroders PLC | Capital Markets | 3017 | 15823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Segro PLC | Equity Real Estate Investment Trusts (REITs) | 5508 | 50593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Severn Trent PLC | Water Utilities | 1089 | 34727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smith & Nephew PLC | Health Care Equipment & Supplies | 3915 | 52250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smiths Group PLC | Industrial Conglomerates | 1701 | 32707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC | Machinery | 333 | 42520 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSE PLC | Electric Utilities | 4833 | 99529 |
| &nbsp;&nbsp;&nbsp;&nbsp; St. James's Place Capital PLC | Capital Markets | 2403 | 31652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Standard Chartered PLC | Banks | 10629 | 79578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tate & Lyle PLC | Food Products | 1828 | 15639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Wimpey PLC | Household Durables | 16461 | 20128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesco PLC | Food & Staples Retailing | 32616 | 87962 |
| &nbsp;&nbsp;&nbsp;&nbsp; The British Land Co. PLC | Equity Real Estate Investment Trusts (REITs) | 4176 | 19847 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Sage Group PLC | Software | 4761 | 42701 |
| &nbsp;&nbsp;&nbsp;&nbsp; The UNITE Group PLC | Equity Real Estate Investment Trusts (REITs) | 1449 | 15861 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Weir Group PLC | Machinery | 1188 | 23851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC | Personal Products | 11520 | 579517 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Utilities Group PLC | Water Utilities | 3105 | 37029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC | Wireless Telecommunication Services | 113328 | 114838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Whitbread PLC | Hotels, Restaurants & Leisure | 918 | 28380 |
| &nbsp;&nbsp; <sup>a</sup> Wise PLC, A | IT Services | 3132 | 21203 |
| &nbsp;&nbsp;&nbsp;&nbsp; WPP PLC | Media | 4581 | 45197 |
|  |  |  | 8581905 |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Holcim AG, B | Construction Materials | 2475 | 128084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellantis NV | Automobiles | 9297 | 131608 |
|  |  |  | 259692 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $50,796,444)** |  |  | 42400454 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Preferred Stocks 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Germany 0.6%** |  |  |  |
| &nbsp;&nbsp; <sup>e</sup> Bayerische Motoren Werke AG, 7.316%, pfd. | Automobiles | 261 | 22159 |
| &nbsp;&nbsp; <sup>e</sup> Fuchs Petrolub SE, 3.145%,pfd. | Chemicals | 315 | 11007 |
| &nbsp;&nbsp; <sup>e</sup> Henkel AG & Co. KGaA, 2.845%, pfd. | Household Products | 738 | 51212 |
| &nbsp;&nbsp; <sup>e</sup> Sartorius AG, 0.341%, pfd. | Health Care Equipment & Supplies | 108 | 42578 |
| &nbsp;&nbsp; <sup>e</sup> Sixt SE, 6.825%, pfd. | Road & Rail | 72 | 4188 |
| &nbsp;&nbsp; <sup>e</sup> Volkswagen AG, 22.86%, pfd. | Automobiles | 909 | 112942 |
|  |  |  | 244086 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Spain 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Grifols SA, pfd.,B | Biotechnology | 1170 | 9777 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $357,818)** |  |  | 253863 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $51,154,262) 98.9%** |  |  | 42654317 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.1%** |  |  | 478736 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | 43133053 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,017,844, representing 2.4% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,017,844, representing 2.4% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,017,844, representing 2.4% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,017,844, representing 2.4% of net assets. |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. |
| Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption |
| from registration. At December 31, 2022, the value of was $240,425, representing 0.6% of net assets. | from registration. At December 31, 2022, the value of was $240,425, representing 0.6% of net assets. |  |  |
| <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. | <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. |  |  |
| <sup>e</sup>Variable rate security. The rate shown represents the yield at period end. |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; EURO STOXX 50 Index | Long | 8 | $323163 | 3/17/23 | $(11109) |
| &nbsp;&nbsp;&nbsp; FTSE 100 Index | Long | 2 | 179617 | 3/17/23 | (562) |
| &nbsp;&nbsp;&nbsp; Total Futures Contracts |  |  |  |  | $(11671) |
| \*As of period end. |  |  |  |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**ADR** – American Depositary Receipt<br> **REIT** – Real Estate Investment Trust<br> **SPA** – Standby Purchase Agreement

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin FTSE Europe Hedged ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 98.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Australia 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Glencore PLC | Metals & Mining | 17556 | $116657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto PLC | Metals & Mining | 1485 | 103570 |
|  |  |  | 220227 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Austria 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ANDRITZ AG | Machinery | 99 | 5658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erste Group Bank AG | Banks | 447 | 14264 |
| &nbsp;&nbsp;&nbsp;&nbsp; OMV AG | Oil, Gas & Consumable Fuels | 195 | 10010 |
| &nbsp;&nbsp; <sup>a</sup> Raiffeisen Bank International AG | Banks | 177 | 2900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telekom Austria AG | Diversified Telecommunication Services | 126 | 777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verbund AG | Electric Utilities | 93 | 7807 |
| &nbsp;&nbsp;&nbsp;&nbsp; voestalpine AG | Metals & Mining | 162 | 4284 |
|  |  |  | 45700 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Belgium 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ackermans & van Haaren NV | Diversified Financial Services | 30 | 5129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ageas SA/NV | Insurance | 249 | 11007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA/NV | Beverages | 1179 | 70804 |
| &nbsp;&nbsp;&nbsp;&nbsp; D'ieteren Group | Distributors | 30 | 5737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elia Group SA/NV | Electric Utilities | 51 | 7228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etablissements Franz Colruyt NV | Food & Staples Retailing | 60 | 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | Diversified Financial Services | 138 | 10984 |
| &nbsp;&nbsp;&nbsp;&nbsp; KBC Group NV | Banks | 375 | 24045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Proximus SADP | Diversified Telecommunication Services | 165 | 1584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sofina SA | Diversified Financial Services | 21 | 4608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solvay SA | Chemicals | 93 | 9376 |
| &nbsp;&nbsp;&nbsp;&nbsp; UCB SA | Pharmaceuticals | 165 | 12954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Umicore SA | Chemicals | 279 | 10219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA | Equity Real Estate Investment Trusts (REITs) | 213 | 6070 |
|  |  |  | 181109 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Bermuda 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hiscox Ltd. | Insurance | 474 | 6212 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Chile 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Antofagasta PLC | Metals & Mining | 465 | 8645 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Denmark 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, A | Marine | 4 | 8823 |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, B | Marine | 7 | 15692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlsberg A/S, B | Beverages | 126 | 16694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chr. Hansen Holding A/S | Chemicals | 141 | 10112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coloplast A/S, B | Health Care Equipment & Supplies | 183 | 21326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danske Bank A/S | Banks | 897 | 17675 |
| &nbsp;&nbsp; <sup>a</sup> Demant A/S | Health Care Equipment & Supplies | 126 | 3482 |
| &nbsp;&nbsp;&nbsp;&nbsp; DSV A/S | Air Freight & Logistics | 252 | 39656 |
| &nbsp;&nbsp; <sup>a</sup> Genmab A/S | Biotechnology | 90 | 37987 |
| &nbsp;&nbsp;&nbsp;&nbsp; GN Store Nord A/S | Health Care Equipment & Supplies | 180 | 4127 |
| &nbsp;&nbsp;&nbsp;&nbsp; H Lundbeck A/S | Pharmaceuticals | 258 | 965 |
| &nbsp;&nbsp; <sup>a</sup> H Lundbeck A/S, A | Pharmaceuticals | 102 | 350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S, B | Pharmaceuticals | 2136 | 287545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novozymes A/S | Chemicals | 270 | 13636 |
| &nbsp;&nbsp; <sup>b</sup> Orsted A/S, 144A | Electric Utilities | 258 | 23375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pandora A/S | Textiles, Apparel & Luxury Goods | 120 | 8406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwool International A/S, B | Building Products | 9 | 2109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Unibrew A/S | Beverages | 69 | 4905 |
| &nbsp;&nbsp;&nbsp;&nbsp; SimCorp A/S | Software | 54 | 3706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tryg A/S | Insurance | 486 | 11533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | Electrical Equipment | 1374 | 39852 |
|  |  |  | 571956 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Finland 2.1%** |  |  |  |
| Elisa OYJ | Diversified Telecommunication Services | 198 | 10452 |
| <sup>c</sup> Fortum OYJ, Reg S | Electric Utilities | 588 | 9752 |
| Huhtamaki OYJ | Containers & Packaging | 132 | 4508 |
| Kesko OYJ | Food & Staples Retailing | 378 | 8319 |
| Kojamo Oyj | Real Estate Management & Development | 279 | 4109 |
| Kojamo Oyj | Machinery | 222 | 5961 |
| Kone OYJ, B | Machinery | 444 | 22887 |
| Metso Outotec OYJ | Machinery | 825 | 8463 |
| Neste OYJ | Oil, Gas & Consumable Fuels | 567 | 26033 |
| Nokia OYJ | Communications Equipment | 7698 | 35549 |
| Nordea Bank Abp | Banks | 4776 | 51125 |
| Orion OYJ | Pharmaceuticals | 138 | 7547 |
| Sampo OYJ, A | Insurance | 669 | 34857 |
| Stora Enso OYJ, R | Paper & Forest Products | 783 | 10989 |
| UPM-Kymmene OYJ | Paper & Forest Products | 729 | 27176 |
| Wartsila OYJ Abp | Machinery | 642 | 5391 |
|  |  |  | 273118 |
| **France 16.8%** |  |  |  |
| <sup>a</sup> Accor SA | Hotels, Restaurants & Leisure | 258 | 6429 |
| <sup>a</sup> Aeroports de Paris | Transportation Infrastructure | 45 | 6013 |
| Air Liquide SA | Chemicals | 699 | 98771 |
| Airbus SE | Aerospace & Defense | 762 | 90286 |
| <sup>b</sup> ALD SA, 144A | Road & Rail | 147 | 1688 |
| Alstom SA | Machinery | 414 | 10083 |
| <sup>b</sup> Amundi SA, 144A | Capital Markets | 75 | 4242 |
| Arkema SA | Chemicals | 87 | 7788 |
| AXA SA | Insurance | 2523 | 70158 |
| BioMerieux | Health Care Equipment & Supplies | 60 | 6270 |
| BNP Paribas SA | Banks | 1461 | 83030 |
| Bollore SE | Entertainment | 1314 | 7320 |
| Bouygues SA | Construction & Engineering | 282 | 8439 |
| Bureau Veritas SA | Professional Services | 387 | 10165 |
| Capgemini SE | IT Services | 219 | 36450 |
| Carrefour SA | Food & Staples Retailing | 807 | 13470 |
| Cie de L'Odet SE | Air Freight & Logistics | 1 | 1483 |
| Cie Generale des Etablissements Michelin SCA | Auto Components | 957 | 26540 |
| Compagnie de Saint-Gobain | Building Products | 627 | 30547 |
| Covivio | Equity Real Estate Investment Trusts (REITs) | 69 | 4083 |
| Credit Agricole SA | Banks | 1653 | 17343 |
| Danone SA | Food Products | 831 | 43661 |
| Dassault Aviation SA | Aerospace & Defense | 33 | 5572 |
| Dassault Systemes SE | Software | 912 | 32602 |
| Edenred | IT Services | 339 | 18408 |
| EDF SA | Electric Utilities | 891 | 11411 |
| Eiffage SA | Construction & Engineering | 99 | 9712 |
| Engie SA | Multi-Utilities | 2268 | 32406 |
| EssilorLuxottica SA | Textiles, Apparel & Luxury Goods | 408 | 73676 |
| Eurazeo SE | Diversified Financial Services | 69 | 4279 |
| <sup>a</sup> Faurecia SE | Auto Components | 225 | 3393 |
| Gecina SA | Equity Real Estate Investment Trusts (REITs) | 69 | 7007 |
| Getlink SE | Transportation Infrastructure | 492 | 7863 |
| Hermes International | Textiles, Apparel & Luxury Goods | 42 | 64771 |
| ICADE | Equity Real Estate Investment Trusts (REITs) | 42 | 1804 |
| Ipsen SA | Pharmaceuticals | 48 | 5148 |
| <sup>a</sup> JCDecaux SE | Media | 93 | 1759 |
| Kering SA | Textiles, Apparel & Luxury Goods | 100 | 50748 |
| Klepierre SA | Equity Real Estate Investment Trusts (REITs) | 255 | 5859 |
| <sup>b</sup> La Francaise des Jeux SAEM, 144A | Hotels, Restaurants & Leisure | 120 | 4813 |
| Legrand SA | Electrical Equipment | 366 | 29226 |
| L'Oreal SA | Personal Products | 336 | 119628 |
| LVMH Moet Hennessy Louis Vuitton SE | Textiles, Apparel & Luxury Goods | 340 | 246712 |
| <sup>b</sup> Neoen SA, 144A | Independent Power Producers & Energy Traders | 60 | 2408 |
| Orange SA | Diversified Telecommunication Services | 2619 | 25942 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Pernod Ricard SA | Beverages | 279.0 | 54714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Publicis Groupe SA | Media | 312.0 | 19786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Remy Cointreau SA | Beverages | 33.0 | 5551 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Renault SA | Automobiles | 258.0 | 8612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rexel SA | Trading Companies & Distributors | 321.0 | 6317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safran SA | Aerospace & Defense | 477.0 | 59521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanofi | Pharmaceuticals | 1488.0 | 142672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | Life Sciences Tools & Services | 33.0 | 10654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | Electrical Equipment | 726.0 | 101285 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCOR SE | Insurance | 213.0 | 4885 |
| &nbsp;&nbsp;&nbsp;&nbsp; SEB SA | Household Durables | 42.0 | 3508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA | Banks | 1053.0 | 26387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sodexo SA | Hotels, Restaurants & Leisure | 117.0 | 11173 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> SOITEC | Semiconductors & Semiconductor Equipment | 33.0 | 5383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Somfy SA | Electrical Equipment | 12.0 | 1831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleperformance | Professional Services | 78.0 | 18539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thales SA | Aerospace & Defense | 135.0 | 17189 |
| &nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE | Oil, Gas & Consumable Fuels | 3180.0 | 199050 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ubisoft Entertainment SA | Entertainment | 132.0 | 3721 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Unibail-Rodamco-Westfield | Equity Real Estate Investment Trusts (REITs) | 138.0 | 7162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valeo | Auto Components | 324.0 | 5775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veolia Environnement SA | Multi-Utilities | 849.0 | 21746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vinci SA | Construction & Engineering | 678.0 | 67504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivendi SA | Media | 972.0 | 9247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wendel SE | Diversified Financial Services | 39.0 | 3630 |
| <sup>a,b,c</sup> Worldline SA, 144A, Reg S | IT Services | 333.0 | 12983 |
|  |  |  | 2178231 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Germany 11.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1&1 Drillisch AG | Wireless Telecommunication Services | 33.0 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp; adidas AG | Textiles, Apparel & Luxury Goods | 228.0 | 31015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allianz SE | Insurance | 555.0 | 118998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aroundtown SA | Real Estate Management & Development | 1023.0 | 2383 |
| &nbsp;&nbsp;&nbsp;&nbsp; BASF SE | Chemicals | 1251.0 | 61937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayer AG | Pharmaceuticals | 1344.0 | 69317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | Automobiles | 432.0 | 38442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bechtle AG | IT Services | 117.0 | 4128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beiersdorf AG | Personal Products | 135.0 | 15445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brenntag SE | Trading Companies & Distributors | 210.0 | 13385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carl Zeiss Meditec AG | Health Care Equipment & Supplies | 51.0 | 6417 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Commerzbank AG | Banks | 1422.0 | 13410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Continental AG | Auto Components | 144.0 | 8603 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Covestro AG, 144A | Chemicals | 240.0 | 9362 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> CTS Eventim AG & Co. KGaA | Entertainment | 84.0 | 5343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Daimler AG | Automobiles | 1149.0 | 75293 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Daimler Truck Holding AG | Machinery | 573.0 | 17701 |
| <sup>a,b</sup> Delivery Hero SE, 144A | Internet & Direct Marketing Retail | 255.0 | 12187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG | Capital Markets | 2766.0 | 31256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Boerse AG | Capital Markets | 252.0 | 43408 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Deutsche Lufthansa AG | Airlines | 804.0 | 6663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Post AG | Air Freight & Logistics | 1320.0 | 49561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom AG | Diversified Telecommunication Services | 4623.0 | 91958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Wohnen SE | Real Estate Management & Development | 57.0 | 1210 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> DWS Group GmbH & Co. KGaA, 144A | Capital Markets | 42.0 | 1361 |
| &nbsp;&nbsp;&nbsp;&nbsp; E.ON SE | Multi-Utilities | 3024.0 | 30124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evonik Industries AG | Chemicals | 270.0 | 5168 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Evotec SE | Life Sciences Tools & Services | 225.0 | 3664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fielmann AG | Specialty Retail | 39.0 | 1541 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Fraport AG Frankfurt Airport Services Worldwide | Transportation Infrastructure | 48.0 | 1949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresenius Medical Care AG & Co. KGaA | Health Care Providers & Services | 273.0 | 8907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | Health Care Providers & Services | 558.0 | 15633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fuchs Petrolub SE | Chemicals | 36.0 | 1068 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEA Group AG | Machinery | 219.0 | 8928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hannover Rueck SE | Insurance | 81.0 | 16036 |
| &nbsp;&nbsp;&nbsp;&nbsp; HeidelbergCement AG | Construction Materials | 198.0 | 11259 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Hella GmbH & Co. KGaA | Auto Components | 30 | 2435 |
| &nbsp;&nbsp; <sup>a</sup> HelloFresh SE | Internet & Direct Marketing Retail | 231 | 5061 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | Household Products | 132 | 8488 |
| &nbsp;&nbsp;&nbsp; HOCHTIEF AG | Construction & Engineering | 33 | 1855 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG | Semiconductors & Semiconductor Equipment | 1779 | 53978 |
| &nbsp;&nbsp;&nbsp; KION Group AG | Machinery | 111 | 3171 |
| &nbsp;&nbsp;&nbsp; Knorr-Bremse AG | Machinery | 93 | 5066 |
| &nbsp;&nbsp;&nbsp; LANXESS AG | Chemicals | 114 | 4587 |
| &nbsp;&nbsp;&nbsp; LEG Immobilien SE | Real Estate Management & Development | 105 | 6820 |
| &nbsp;&nbsp;&nbsp; Merck KGaA | Pharmaceuticals | 177 | 34173 |
| &nbsp;&nbsp; <sup>a</sup> METRO AG | Food & Staples Retailing | 162 | 1578 |
| &nbsp;&nbsp;&nbsp; MTU Aero Engines AG | Aerospace & Defense | 72 | 15537 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft | &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aktiengesellschaft in Muenchen | Insurance | 192 | 62293 |
| &nbsp;&nbsp;&nbsp; Nemetschek SE | Software | 78 | 3970 |
| &nbsp;&nbsp;&nbsp; Puma SE | Textiles, Apparel & Luxury Goods | 132 | 7988 |
| &nbsp;&nbsp;&nbsp; Rational AG | Machinery | 7 | 4146 |
| &nbsp;&nbsp;&nbsp; Rheinmetall AG | Industrial Conglomerates | 60 | 11914 |
| &nbsp;&nbsp;&nbsp; RWE AG | Multi-Utilities | 861 | 38217 |
| &nbsp;&nbsp;&nbsp; SAP SE | Software | 1515 | 155851 |
| &nbsp;&nbsp;&nbsp; Sartorius AG | Health Care Equipment & Supplies | 4 | 1428 |
| <sup>b,c</sup> Scout24 AG, 144A, Reg S | Interactive Media & Services | 105 | 5259 |
| &nbsp;&nbsp;&nbsp; Siemens AG | Industrial Conglomerates | 1032 | 142786 |
| &nbsp;&nbsp; <sup>a</sup> Siemens Energy AG | Electrical Equipment | 585 | 10973 |
| &nbsp;&nbsp; <sup>b</sup> Siemens Healthineers AG, 144A | Health Care Equipment & Supplies | 375 | 18702 |
| &nbsp;&nbsp;&nbsp; Sixt SE | Road & Rail | 18 | 1651 |
| &nbsp;&nbsp;&nbsp; Symrise AG | Chemicals | 180 | 19527 |
| &nbsp;&nbsp; <sup>a</sup> Talanx AG | Insurance | 75 | 3548 |
| &nbsp;&nbsp;&nbsp; Telefonica Deutschland Holding AG | Diversified Telecommunication Services | 1158 | 2846 |
| &nbsp;&nbsp; <sup>a</sup> thyssenkrupp AG | Metals & Mining | 642 | 3903 |
| &nbsp;&nbsp;&nbsp; Traton SE | Machinery | 51 | 769 |
| &nbsp;&nbsp; <sup>a</sup> TUI AG | Hotels, Restaurants & Leisure | 1695 | 2734 |
| &nbsp;&nbsp;&nbsp; United Internet AG | Diversified Telecommunication Services | 150 | 3024 |
| &nbsp;&nbsp;&nbsp; Vantage Towers AG | Diversified Telecommunication Services | 129 | 4419 |
| &nbsp;&nbsp;&nbsp; Varta AG | Electrical Equipment | 24 | 577 |
| &nbsp;&nbsp;&nbsp; Volkswagen AG | Automobiles | 39 | 6146 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | Real Estate Management & Development | 966 | 22702 |
| &nbsp;&nbsp;&nbsp; Wacker Chemie AG | Chemicals | 21 | 2676 |
| <sup>a,b</sup> Zalando SE, 144A | Internet & Direct Marketing Retail | 303 | 10707 |
|  |  |  | 1524974 |
| &nbsp;&nbsp;&nbsp; **Ireland 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; AIB Group PLC | Banks | 1539 | 5939 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC | Banks | 1464 | 13906 |
| &nbsp;&nbsp;&nbsp; CRH PLC | Construction Materials | 1023 | 40596 |
| &nbsp;&nbsp;&nbsp; DCC PLC | Industrial Conglomerates | 132 | 6478 |
| &nbsp;&nbsp;&nbsp; Experian PLC | Professional Services | 1257 | 42534 |
| &nbsp;&nbsp; <sup>a</sup> Flutter Entertainment PLC | Hotels, Restaurants & Leisure | 240 | 32594 |
| &nbsp;&nbsp;&nbsp; Glanbia PLC | Food Products | 249 | 3168 |
| &nbsp;&nbsp;&nbsp; Kerry Group PLC, A | Food Products | 210 | 18880 |
| &nbsp;&nbsp;&nbsp; Kingspan Group PLC | Building Products | 207 | 11174 |
| &nbsp;&nbsp;&nbsp; Smurfit Kappa Group PLC | Containers & Packaging | 357 | 13188 |
|  |  |  | 188457 |
| &nbsp;&nbsp;&nbsp; **Isle Of Man 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Entain PLC | Hotels, Restaurants & Leisure | 798 | 12685 |
| &nbsp;&nbsp;&nbsp; **Italy 3.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; A2A SpA | Multi-Utilities | 2160 | 2870 |
| &nbsp;&nbsp;&nbsp; Amplifon SpA | Health Care Providers & Services | 183 | 5433 |
| &nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | Insurance | 1851 | 32823 |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | Diversified Financial Services | 333 | 2771 |
| &nbsp;&nbsp;&nbsp; Buzzi Unicem SpA | Construction Materials | 114 | 2190 |
| &nbsp;&nbsp;&nbsp; Davide Campari-Milano NV | Beverages | 660 | 6680 |
| &nbsp;&nbsp;&nbsp; De' Longhi SpA | Household Durables | 96 | 2150 |
| &nbsp;&nbsp;&nbsp; DiaSorin SpA | Health Care Equipment & Supplies | 30 | 4175 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Enel SpA | Electric Utilities | 10614 | 56979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eni SpA | Oil, Gas & Consumable Fuels | 3060 | 43389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrari NV | Automobiles | 165 | 35254 |
| &nbsp;&nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | Banks | 834 | 13814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hera SpA | Multi-Utilities | 1107 | 2976 |
| <sup>b,c</sup> Infrastrutture Wireless Italiane SpA, 144A, Reg S | Diversified Telecommunication Services | 492 | 4943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interpump Group SpA | Machinery | 105 | 4725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | Banks | 22137 | 49094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Italgas SpA | Gas Utilities | 696 | 3855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leonardo SpA | Aerospace & Defense | 570 | 4903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mediobanca Banca di Credito Finanziario SpA | Banks | 867 | 8313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moncler SpA | Textiles, Apparel & Luxury Goods | 279 | 14739 |
| <sup>a,b</sup> Nexi SpA, 144A | IT Services | 738 | 5802 |
| &nbsp;&nbsp; <sup>b</sup> Pirelli & C SpA, 144A | Auto Components | 687 | 2936 |
| <sup>b,c</sup> Poste Italiane SpA, 144A, Reg S | Insurance | 618 | 6019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prysmian SpA | Electrical Equipment | 360 | 13317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | Pharmaceuticals | 138 | 5707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reply SpA | IT Services | 33 | 3769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snam SpA | Gas Utilities | 3042 | 14697 |
| &nbsp;&nbsp; <sup>a</sup> Telecom Italia SpA | Diversified Telecommunication Services | 15351 | 3544 |
| &nbsp;&nbsp; <sup>a</sup> Telecom Italia SpA/Milano | Diversified Telecommunication Services | 7440 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenaris SA | Energy Equipment & Services | 639 | 11106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | Electric Utilities | 1950 | 14360 |
| &nbsp;&nbsp;&nbsp;&nbsp; UniCredit SpA | Banks | 2598 | 36800 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnipolSai Assicurazioni SpA | Insurance | 480 | 1179 |
|  |  |  | 422966 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Luxembourg 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal SA | Metals & Mining | 651 | 17074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eurofins Scientific SE | Life Sciences Tools & Services | 168 | 12024 |
| &nbsp;&nbsp;&nbsp;&nbsp; RTL Group SA | Media | 48 | 2021 |
| &nbsp;&nbsp; <sup>a</sup> SUSE SA | Software | 63 | 1132 |
|  |  |  | 32251 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Mexico 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fresnillo PLC | Metals & Mining | 237 | 2571 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Netherlands 8.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aalberts NV | Machinery | 138 | 5336 |
| &nbsp;&nbsp; <sup>b</sup> ABN AMRO Bank NV, 144A | Banks | 534 | 7366 |
| <sup>a,b</sup> Adyen NV, 144A | IT Services | 40 | 55002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aegon NV | Insurance | 2421 | 12242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Akzo Nobel NV | Chemicals | 243 | 16224 |
| &nbsp;&nbsp; <sup>a</sup> Argenx SE | Biotechnology | 75 | 27879 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASM International NV | Semiconductors & Semiconductor Equipment | 63 | 15844 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding NV | Semiconductors & Semiconductor Equipment | 549 | 295187 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASR Nederland NV | Insurance | 195 | 9230 |
| &nbsp;&nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | Semiconductors & Semiconductor Equipment | 105 | 6338 |
| &nbsp;&nbsp; <sup>b</sup> CTP NV, 144A | Real Estate Management & Development | 120 | 1414 |
| <sup>b,c</sup> Euronext NV, 144A, Reg S | Capital Markets | 108 | 7972 |
| &nbsp;&nbsp; <sup>a</sup> EXOR NV | Diversified Financial Services | 141 | 10278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heineken Holding NV | Beverages | 144 | 11073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heineken NV | Beverages | 324 | 30388 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMCD Group NV | Trading Companies & Distributors | 78 | 11084 |
| &nbsp;&nbsp;&nbsp;&nbsp; ING Groep NV | Banks | 5091 | 61875 |
| &nbsp;&nbsp;&nbsp;&nbsp; JDE Peet's NV | Food Products | 111 | 3201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | Food & Staples Retailing | 1350 | 38671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke DSM NV | Chemicals | 237 | 28911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN NV | Diversified Telecommunication Services | 4446 | 13713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Philips NV | Health Care Equipment & Supplies | 1209 | 18070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Vopak NV | Oil, Gas & Consumable Fuels | 90 | 2666 |
| &nbsp;&nbsp;&nbsp;&nbsp; NN Group NV | Insurance | 408 | 16616 |
| &nbsp;&nbsp;&nbsp;&nbsp; OCI NV | Chemicals | 135 | 4815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prosus NV | Internet & Direct Marketing Retail | 1140 | 78414 |
| &nbsp;&nbsp; <sup>a</sup> QIAGEN NV | Life Sciences Tools & Services | 300 | 15051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Randstad NV | Professional Services | 147 | 8936 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Shell PLC | Oil, Gas & Consumable Fuels | 9699 | 271373 |
| &nbsp;&nbsp; <sup>b</sup> Signify NV, 144A | Electrical Equipment | 168.0 | 5626 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | Entertainment | 1020.0 | 24504 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | Professional Services | 342.0 | 35682 |
|  |  |  | 1150981 |
| &nbsp;&nbsp;&nbsp; **Nigeria 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; Airtel Africa PLC, 144A | Wireless Telecommunication Services | 1425.0 | 1917 |
| &nbsp;&nbsp;&nbsp; **Norway 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Adevinta ASA, B | Interactive Media & Services | 369.0 | 2457 |
| &nbsp;&nbsp;&nbsp; Aker ASA | Diversified Financial Services | 33.0 | 2410 |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | Oil, Gas & Consumable Fuels | 417.0 | 12873 |
| <sup>a,b</sup> AutoStore Holdings Ltd., 144A | Machinery | 1041.0 | 1894 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | Banks | 1398.0 | 27595 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | Oil, Gas & Consumable Fuels | 1278.0 | 45640 |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | Insurance | 243.0 | 4741 |
| &nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | Aerospace & Defense | 105.0 | 4430 |
| &nbsp;&nbsp;&nbsp; Leroy Seafood Group ASA | Food Products | 309.0 | 1730 |
| &nbsp;&nbsp;&nbsp; Mowi ASA | Food Products | 603.0 | 10235 |
| &nbsp;&nbsp; <sup>a</sup> Nordic Semiconductor ASA | Semiconductors & Semiconductor Equipment | 225.0 | 3743 |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | Metals & Mining | 1854.0 | 13799 |
| &nbsp;&nbsp;&nbsp; Orkla ASA | Food Products | 1032.0 | 7432 |
| &nbsp;&nbsp;&nbsp; Salmar ASA | Food Products | 93.0 | 3633 |
| &nbsp;&nbsp;&nbsp; Schibsted ASA, A | Media | 99.0 | 1864 |
| &nbsp;&nbsp;&nbsp; Schibsted ASA, B | Media | 120.0 | 2182 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | Diversified Telecommunication Services | 861.0 | 8006 |
| &nbsp;&nbsp;&nbsp; TOMRA Systems ASA | Commercial Services & Supplies | 312.0 | 5245 |
| &nbsp;&nbsp;&nbsp; Var Energi ASA | Oil, Gas & Consumable Fuels | 495.0 | 1689 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | Chemicals | 219.0 | 9573 |
|  |  |  | 171171 |
| &nbsp;&nbsp;&nbsp; **Poland 0.4%** |  |  |  |
| <sup>a,b</sup> Allegro.eu SA, 144A | Internet & Direct Marketing Retail | 534.0 | 3059 |
| &nbsp;&nbsp;&nbsp; Bank Pekao SA | Banks | 204.0 | 4023 |
| <sup>a,b</sup> Dino Polska SA, 144A | Food & Staples Retailing | 63.0 | 5391 |
| &nbsp;&nbsp; <sup>a</sup> InPost SA | Air Freight & Logistics | 255.0 | 2144 |
| &nbsp;&nbsp;&nbsp; KGHM Polska Miedz SA | Metals & Mining | 180.0 | 5202 |
| &nbsp;&nbsp;&nbsp; LPP SA | Textiles, Apparel & Luxury Goods | 2.0 | 4856 |
| &nbsp;&nbsp;&nbsp; Polski Koncern Naftowy ORLEN SA | Oil, Gas & Consumable Fuels | 792.0 | 11600 |
| &nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski SA | Banks | 1152.0 | 7955 |
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | Insurance | 744.0 | 6008 |
| &nbsp;&nbsp;&nbsp; Santander Bank Polska SA | Banks | 39.0 | 2306 |
|  |  |  | 52544 |
| &nbsp;&nbsp;&nbsp; **Portugal 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; EDP - Energias de Portugal SA | Electric Utilities | 3846.0 | 19111 |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA, B | Oil, Gas & Consumable Fuels | 696.0 | 9367 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | Food & Staples Retailing | 387.0 | 8335 |
|  |  |  | 36813 |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Evraz PLC | Metals & Mining | 1168.0 |  |
| &nbsp;&nbsp;&nbsp; **Spain 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Acciona SA | Electric Utilities | 30.0 | 5504 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | Construction & Engineering | 282.0 | 8057 |
| <sup>a,b</sup> Aena SME SA, 144A | Transportation Infrastructure | 99.0 | 12394 |
| &nbsp;&nbsp; <sup>a</sup> Amadeus IT Group SA | IT Services | 615.0 | 31866 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | Banks | 8223.0 | 49444 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | Banks | 22674.0 | 67817 |
| &nbsp;&nbsp;&nbsp; Bankinter SA | Banks | 912.0 | 6101 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | Banks | 5649.0 | 22138 |
| &nbsp;&nbsp; <sup>b</sup> Cellnex Telecom SA, 144A | Diversified Telecommunication Services | 765.0 | 25244 |
| &nbsp;&nbsp;&nbsp; Corp. ACCIONA Energias Renovables SA | Independent Power Producers & Energy Traders | 75.0 | 2893 |
| &nbsp;&nbsp;&nbsp; EDP Renovaveis SA | Independent Power Producers & Energy Traders | 324.0 | 7116 |
| &nbsp;&nbsp;&nbsp; Enagas SA | Gas Utilities | 351.0 | 5816 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Endesa SA | Electric Utilities | 432 | 8131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrovial SA | Construction & Engineering | 651 | 17001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fluidra SA | Machinery | 150 | 2324 |
| &nbsp;&nbsp; <sup>a</sup> Grifols SA | Biotechnology | 441 | 5069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iberdrola SA | Electric Utilities | 8139 | 94942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | Specialty Retail | 1434 | 38031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inmobiliaria Colonial SA | Equity Real Estate Investment Trusts (REITs) | 477 | 3059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mapfre SA | Insurance | 1338 | 2585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merlin Properties Socimi SA | Equity Real Estate Investment Trusts (REITs) | 438 | 4102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Naturgy Energy Group SA | Gas Utilities | 189 | 4904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Red Electrica Corp. SA | Electric Utilities | 588 | 10204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Repsol SA | Oil, Gas & Consumable Fuels | 1710 | 27101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonica SA | Diversified Telecommunication Services | 6813 | 24613 |
|  |  |  | 486456 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Sweden 4.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alfa Laval AB | Machinery | 423 | 12224 |
| &nbsp;&nbsp; <sup>a</sup> Alleima AB | Metals & Mining | 245 | 903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assa Abloy AB, B | Building Products | 1251 | 26858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco AB, A | Machinery | 3450 | 40760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco AB, B | Machinery | 2064 | 22008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axfood AB | Food & Staples Retailing | 153 | 4198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beijer Ref AB | Trading Companies & Distributors | 321 | 4532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boliden AB | Metals & Mining | 378 | 14194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Castellum AB | Real Estate Management & Development | 342 | 4144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrolux AB, B | Household Durables | 282 | 3810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Epiroc AB, A | Machinery | 852 | 15524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Epiroc AB, B | Machinery | 513 | 8254 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT AB | Capital Markets | 462 | 9781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essity AB, B | Household Products | 828 | 21718 |
| <sup>b,c</sup> Evolution Gaming Group AB, 144A, Reg S | Hotels, Restaurants & Leisure | 216 | 21050 |
| &nbsp;&nbsp; <sup>a</sup> Fastighets AB Balder, B | Real Estate Management & Development | 858 | 3995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Getinge AB, B | Health Care Equipment & Supplies | 297 | 6165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hennes & Mauritz AB, B | Specialty Retail | 900 | 9695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hexagon AB, B | Electronic Equipment, Instruments & Components | 2559 | 26770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Holmen AB, B | Paper & Forest Products | 126 | 5005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Husqvarna AB, A | Household Durables | 36 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Husqvarna AB, B | Household Durables | 582 | 4084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrivarden AB, A | Diversified Financial Services | 165 | 4014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrivarden AB, C | Diversified Financial Services | 201 | 4881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indutrade AB | Machinery | 381 | 7719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment AB Latour, B | Industrial Conglomerates | 207 | 3916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor AB, A | Diversified Financial Services | 717 | 13339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor AB, B | Diversified Financial Services | 2484 | 44953 |
| &nbsp;&nbsp; <sup>a</sup> Kinnevik AB, B | Diversified Financial Services | 345 | 4742 |
| &nbsp;&nbsp;&nbsp;&nbsp; L E Lundbergforetagen AB, B | Diversified Financial Services | 105 | 4475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lifco AB, B | Industrial Conglomerates | 303 | 5064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nibe Industrier AB, B | Building Products | 1971 | 18368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saab AB, B | Aerospace & Defense | 120 | 4730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sagax AB, B | Real Estate Management & Development | 231 | 5243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sagax AB, D | Real Estate Management & Development | 165 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sandvik AB | Machinery | 1470 | 26580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securitas AB, B | Commercial Services & Supplies | 648 | 5408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, A | Banks | 1944 | 22379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, C | Banks | 30 | 358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skanska AB, B | Construction & Engineering | 489 | 7744 |
| &nbsp;&nbsp;&nbsp;&nbsp; SKF AB, B | Machinery | 522 | 7973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, A | Paper & Forest Products | 36 | 461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, B | Paper & Forest Products | 807 | 10220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, A | Banks | 2028 | 20456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, B | Banks | 60 | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweco AB, B | Construction & Engineering | 282 | 2702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swedbank AB, A | Banks | 1374 | 23380 |
| &nbsp;&nbsp; <sup>a</sup> Swedish Orphan Biovitrum AB | Biotechnology | 249 | 5155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tele2 AB, B | Wireless Telecommunication Services | 777 | 6346 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Telefonaktiebolaget LM Ericsson, A | Communications Equipment | 72 | 456 |
| Telefonaktiebolaget LM Ericsson, B | Communications Equipment | 4110 | 24022 |
| Telia Co. AB | Diversified Telecommunication Services | 3387 | 8666 |
| Trelleborg AB, B | Machinery | 312 | 7211 |
| Vitrolife AB | Biotechnology | 75 | 1340 |
| Volvo AB, A | Machinery | 273 | 5190 |
| Volvo AB, B | Machinery | 2061 | 37282 |
| <sup>a</sup> Volvo Car AB, B | Automobiles | 732 | 3329 |
|  |  |  | 615155 |
| **Switzerland 15.0%** |  |  |  |
| ABB Ltd. | Electrical Equipment | 2076 | 62962 |
| <sup>a</sup> Accelleron Industries AG | Electrical Equipment | 111 | 2297 |
| Adecco Group AG | Professional Services | 213 | 7013 |
| Alcon Inc. | Health Care Equipment & Supplies | 630 | 43021 |
| Bachem Holding AG, B | Life Sciences Tools & Services | 39 | 3366 |
| Baloise Holding AG | Insurance | 60 | 9254 |
| Banque Cantonale Vaudoise | Banks | 39 | 3741 |
| Barry Callebaut AG | Food Products | 4 | 7907 |
| Belimo Holding AG | Building Products | 12 | 5707 |
| BKW AG | Electric Utilities | 24 | 3281 |
| Chocoladefabriken Lindt & Spruengli AG | Food Products | 3 | 30577 |
| Cie Financiere Richemont SA | Textiles, Apparel & Luxury Goods | 699 | 90586 |
| Clariant AG | Chemicals | 321 | 5083 |
| Coca-Cola HBC AG | Beverages | 261 | 6194 |
| Credit Suisse Group AG | Capital Markets | 4584 | 13695 |
| DKSH Holding AG | Professional Services | 48 | 3642 |
| Emmi AG | Food Products | 3 | 2539 |
| EMS-Chemie Holding AG | Chemicals | 10 | 6766 |
| <sup>a</sup> Flughafen Zurich AG | Transportation Infrastructure | 27 | 4176 |
| Geberit AG | Building Products | 48 | 22594 |
| Georg Fischer AG | Machinery | 110 | 6729 |
| Givaudan SA | Chemicals | 11 | 33682 |
| Helvetia Holding AG | Insurance | 48 | 5593 |
| Julius Baer Group Ltd. | Capital Markets | 285 | 16591 |
| Kuehne + Nagel International AG | Marine | 69 | 16049 |
| Logitech International SA | Technology Hardware, Storage & Peripherals | 195 | 12026 |
| Lonza Group AG | Life Sciences Tools & Services | 99 | 48483 |
| Nestle SA | Food Products | 3681 | 426267 |
| Novartis AG | Pharmaceuticals | 2760 | 249361 |
| Partners Group Holding AG | Capital Markets | 30 | 26485 |
| PSP Swiss Property AG | Real Estate Management & Development | 63 | 7388 |
| Roche Holding AG, Bearer | Pharmaceuticals | 36 | 13946 |
| Roche Holding AG, Non-Voting | Pharmaceuticals | 948 | 297659 |
| Schindler Holding AG, PC | Machinery | 54 | 10150 |
| Schindler Holding AG | Machinery | 27 | 4868 |
| SGS SA | Professional Services | 8 | 18591 |
| SIG Combibloc Group AG | Containers & Packaging | 447 | 9759 |
| Sika AG | Chemicals | 198 | 47446 |
| Sonova Holding AG | Health Care Equipment & Supplies | 69 | 16355 |
| STMicroelectronics NV | Semiconductors & Semiconductor Equipment | 864 | 30425 |
| Straumann Holding AG | Health Care Equipment & Supplies | 146 | 16664 |
| Swiss Life Holding AG | Insurance | 41 | 21129 |
| Swiss Prime Site AG | Real Estate Management & Development | 102 | 8836 |
| Swiss Re AG | Insurance | 393 | 36734 |
| Swisscom AG | Diversified Telecommunication Services | 35 | 19165 |
| Tecan Group AG | Life Sciences Tools & Services | 17 | 7578 |
| Temenos AG | Software | 78 | 4278 |
| The Swatch Group AG | Textiles, Apparel & Luxury Goods | 39 | 11086 |
| The Swatch Group AG | Textiles, Apparel & Luxury Goods | 63 | 3271 |
| UBS Group AG | Capital Markets | 4065 | 75593 |
| <sup>b</sup> VAT Group AG, 144A | Machinery | 36 | 9837 |
| Zurich Insurance Group AG | Insurance | 204 | 97524 |
|  |  |  | 1943949 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United Kingdom 20.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3i Group PLC | Capital Markets | 1293 | 20865 |
| &nbsp;&nbsp;&nbsp;&nbsp; abrdn PLC | Capital Markets | 2751 | 6263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Admiral Group PLC | Insurance | 387 | 9948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allfunds Group PLC | Capital Markets | 438 | 3050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anglo American PLC | Metals & Mining | 1647 | 64121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Group PLC | Trading Companies & Distributors | 603 | 34236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Associated British Foods PLC | Food Products | 471 | 8929 |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | Pharmaceuticals | 2019 | 272447 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Auto Trader Group PLC, 144A | Interactive Media & Services | 1236 | 7666 |
| &nbsp;&nbsp;&nbsp;&nbsp; AVEVA Group PLC | Software | 168 | 6493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aviva PLC | Insurance | 3807 | 20278 |
| &nbsp;&nbsp;&nbsp;&nbsp; B&M European Value Retail SA | Multiline Retail | 1320 | 6531 |
| &nbsp;&nbsp;&nbsp;&nbsp; BAE Systems PLC | Aerospace & Defense | 4230 | 43556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC | Banks | 21585 | 41159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barratt Developments PLC | Household Durables | 1338 | 6386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bellway PLC | Household Durables | 177 | 4061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkeley Group Holdings PLC | Household Durables | 144 | 6535 |
| &nbsp;&nbsp;&nbsp;&nbsp; BP PLC | Oil, Gas & Consumable Fuels | 24468 | 139775 |
| &nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | Tobacco | 3060 | 120788 |
| &nbsp;&nbsp;&nbsp;&nbsp; BT Group PLC | Diversified Telecommunication Services | 9492 | 12794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunzl PLC | Trading Companies & Distributors | 459 | 15233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Burberry Group PLC | Textiles, Apparel & Luxury Goods | 525 | 12820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrica PLC | Multi-Utilities | 8067 | 9366 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNH Industrial NV | Machinery | 1344 | 21466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC | Hotels, Restaurants & Leisure | 2397 | 55288 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> ConvaTec Group PLC, 144A | Health Care Equipment & Supplies | 2178 | 6094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Croda International PLC | Chemicals | 189 | 15014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals PLC | Pharmaceuticals | 144 | 4535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derwent London PLC | Equity Real Estate Investment Trusts (REITs) | 153 | 4358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diageo PLC | Beverages | 3081 | 135274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Direct Line Insurance Group PLC | Insurance | 1884 | 5015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dr Martens PLC | Textiles, Apparel & Luxury Goods | 699 | 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp; DS Smith PLC | Containers & Packaging | 1728 | 6683 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> easyJet PLC | Airlines | 489 | 1909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Endeavour Mining PLC | Metals & Mining | 243 | 5121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferguson PLC | Trading Companies & Distributors | 285 | 35791 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSK PLC | Pharmaceuticals | 5457 | 94367 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Haleon PLC | Personal Products | 6822 | 26863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halma PLC | Electronic Equipment, Instruments & Components | 516 | 12253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hargreaves Lansdown PLC | Capital Markets | 501 | 5160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hikma Pharmaceuticals PLC | Pharmaceuticals | 228 | 4257 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> HomeServe PLC | Commercial Services & Supplies | 393 | 5659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howden Joinery Group PLC | Trading Companies & Distributors | 702 | 4742 |
| &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC | Banks | 27498 | 170580 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMI PLC | Machinery | 339 | 5252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Imperial Brands PLC | Tobacco | 1293 | 32211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Informa PLC | Media | 1944 | 14489 |
| &nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | Hotels, Restaurants & Leisure | 240 | 13696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermediate Capital Group PLC | Capital Markets | 378 | 5220 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> International Consolidated Airlines Group SA | Airlines | 1392 | 2074 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Distributions Services PLC | Air Freight & Logistics | 978 | 2506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intertek Group PLC | Professional Services | 219 | 10627 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITV PLC | Media | 5340 | 4828 |
| &nbsp;&nbsp;&nbsp;&nbsp; J Sainsbury PLC | Food & Staples Retailing | 2421 | 6340 |
| &nbsp;&nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | Specialty Retail | 3510 | 5326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Matthey PLC | Chemicals | 240 | 6141 |
| <sup>a,b,c</sup> Just Eat Takeaway.com NV, 144A, Reg S | Internet & Direct Marketing Retail | 261 | 5501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingfisher PLC | Specialty Retail | 2619 | 7438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Land Securities Group PLC | Equity Real Estate Investment Trusts (REITs) | 1008 | 7535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legal & General Group PLC | Insurance | 8097 | 24301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | Banks | 91716 | 50099 |
| &nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | Capital Markets | 501 | 43005 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&G PLC | Diversified Financial Services | 2922 | 6603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Melrose Industries PLC | Industrial Conglomerates | 5463 | 8839 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Mondi PLC | Paper & Forest Products | 663 | 11241 |
| &nbsp;&nbsp;&nbsp; National Grid PLC | Multi-Utilities | 4977 | 59713 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | Banks | 6843 | 21830 |
| &nbsp;&nbsp;&nbsp; Next PLC | Multiline Retail | 168 | 11733 |
| <sup>a,d</sup> NMC Health PLC | Health Care Providers & Services | 60 |  |
| &nbsp;&nbsp; <sup>a</sup> Ocado Group PLC | Food & Staples Retailing | 861 | 6388 |
| &nbsp;&nbsp;&nbsp; Pearson PLC | Media | 981 | 11083 |
| &nbsp;&nbsp;&nbsp; Pennon Group PLC | Water Utilities | 372 | 3976 |
| <sup>a,b</sup> Pepco Group NV, 144A | Multiline Retail | 162 | 1460 |
| &nbsp;&nbsp;&nbsp; Persimmon PLC | Household Durables | 426 | 6236 |
| &nbsp;&nbsp;&nbsp; Phoenix Group Holdings PLC | Insurance | 978 | 7160 |
| &nbsp;&nbsp;&nbsp; Prudential PLC | Insurance | 3753 | 50901 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | Household Products | 978 | 67692 |
| &nbsp;&nbsp;&nbsp; RELX PLC | Professional Services | 2625 | 72246 |
| &nbsp;&nbsp;&nbsp; Renishaw PLC | Electronic Equipment, Instruments & Components | 45 | 1985 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | Commercial Services & Supplies | 3420 | 20899 |
| &nbsp;&nbsp;&nbsp; Rightmove PLC | Interactive Media & Services | 1098 | 6754 |
| &nbsp;&nbsp; <sup>a</sup> Rolls-Royce Holdings PLC | Aerospace & Defense | 11436 | 12821 |
| &nbsp;&nbsp;&nbsp; RS GROUP PLC | Trading Companies & Distributors | 633 | 6819 |
| &nbsp;&nbsp;&nbsp; Schroders PLC | Capital Markets | 1095 | 5743 |
| &nbsp;&nbsp;&nbsp; Segro PLC | Equity Real Estate Investment Trusts (REITs) | 1659 | 15238 |
| &nbsp;&nbsp;&nbsp; Severn Trent PLC | Water Utilities | 342 | 10906 |
| &nbsp;&nbsp;&nbsp; Smith & Nephew PLC | Health Care Equipment & Supplies | 1206 | 16095 |
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | Industrial Conglomerates | 480 | 9230 |
| &nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC | Machinery | 99 | 12641 |
| &nbsp;&nbsp;&nbsp; SSE PLC | Electric Utilities | 1479 | 30458 |
| &nbsp;&nbsp;&nbsp; St. James's Place Capital PLC | Capital Markets | 729 | 9602 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | Banks | 3237 | 24235 |
| &nbsp;&nbsp;&nbsp; Tate & Lyle PLC | Food Products | 567 | 4851 |
| &nbsp;&nbsp;&nbsp; Taylor Wimpey PLC | Household Durables | 4701 | 5748 |
| &nbsp;&nbsp;&nbsp; Tesco PLC | Food & Staples Retailing | 9996 | 26958 |
| &nbsp;&nbsp;&nbsp; The British Land Co. PLC | Equity Real Estate Investment Trusts (REITs) | 1248 | 5931 |
| &nbsp;&nbsp;&nbsp; The Sage Group PLC | Software | 1392 | 12485 |
| &nbsp;&nbsp;&nbsp; The UNITE Group PLC | Equity Real Estate Investment Trusts (REITs) | 429 | 4696 |
| &nbsp;&nbsp;&nbsp; The Weir Group PLC | Machinery | 345 | 6926 |
| &nbsp;&nbsp;&nbsp; Unilever PLC | Personal Products | 3468 | 174459 |
| &nbsp;&nbsp;&nbsp; United Utilities Group PLC | Water Utilities | 933 | 11126 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC | Wireless Telecommunication Services | 33831 | 34282 |
| &nbsp;&nbsp;&nbsp; Whitbread PLC | Hotels, Restaurants & Leisure | 270 | 8347 |
| &nbsp;&nbsp; <sup>a</sup> Wise PLC, A | IT Services | 942 | 6377 |
| &nbsp;&nbsp;&nbsp; WPP PLC | Media | 1425 | 14059 |
|  |  |  | 2588693 |
| &nbsp;&nbsp;&nbsp; **United States 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Holcim AG, B | Construction Materials | 744 | 38503 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | Automobiles | 2766 | 39155 |
|  |  |  | 77658 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $14,225,278)** |  |  | 12794439 |
| &nbsp;&nbsp;&nbsp; **Preferred Stocks 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Germany 0.6%** |  |  |  |
| &nbsp;&nbsp; <sup>e</sup> Bayerische Motoren Werke AG, 7.316%, pfd. | Automobiles | 78 | 6622 |
| &nbsp;&nbsp; <sup>e</sup> Fuchs Petrolub SE, 3.145%,pfd. | Chemicals | 96 | 3354 |
| &nbsp;&nbsp; <sup>e</sup> Henkel AG & Co. KGaA, 2.845%, pfd. | Household Products | 231 | 16030 |
| &nbsp;&nbsp; <sup>e</sup> Sartorius AG, 0.341%, pfd. | Health Care Equipment & Supplies | 33 | 13010 |
| &nbsp;&nbsp; <sup>e</sup> Sixt SE, 6.825%, pfd. | Road & Rail | 27 | 1570 |
| &nbsp;&nbsp; <sup>e</sup> Volkswagen AG, 22.86%, pfd. | Automobiles | 276 | 34293 |
|  |  |  | 74879 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Spain 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Grifols SA, pfd.,B | Biotechnology | 351 | 2933 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $107,780)** |  |  | 77812 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $14,333,058) 99.4%** |  |  | 12872251 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.6%** |  |  | 75367 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $12947618 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $303,757, representing 2.4% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $303,757, representing 2.4% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $303,757, representing 2.4% of net assets. |  |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. |
| Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption |
| from registration. At December 31, 2022, the value of was $83,316, representing 0.6% of net assets. | from registration. At December 31, 2022, the value of was $83,316, representing 0.6% of net assets. |  |  |
| <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. | <sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. |  |  |
| <sup>e</sup>Variable rate security. The rate shown represents the yield at period end. |  |  |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. |  |  |
| **Forward Exchange Contracts** |  |  |  |  |  |  |  |
|  |  |  |  | **Contract** | **Settlement** | **Unrealized** | **Unrealized** |
| **Currency** | **Counterparty** | **Type** | **Quantity** | **Amount** | **Date** | **Appreciation** | **Depreciation** |
| **OTC Forward Exchange Contracts** |  |  |  |  |  |  |  |
| Danish Krone | BOFA | Buy | 3918200 | $562314 | 1/03/23 | $11 | $— |
| Danish Krone | BOFA | Buy | 78785 | 11282 | 1/03/23 | 25 |  |
| Danish Krone | BOFA | Buy | 825515 | 117991 | 1/03/23 | 483 |  |
| Danish Krone | BOFA | Sell | 4822500 | 669530 | 1/03/23 |  | (22577) |
| Euro | UBSW | Buy | 1972289 | 2104904 | 1/03/23 | 21 |  |
| Euro | HSBK | Buy | 1972289 | 2104894 | 1/03/23 | 31 |  |
| Euro | BOFA | Buy | 1972289 | 2104884 | 1/03/23 | 40 |  |
| Euro | UBSW | Buy | 143490 | 152860 | 1/03/23 | 279 |  |
| Euro | HSBK | Buy | 143490 | 152852 | 1/03/23 | 287 |  |
| Euro | BOFA | Buy | 143490 | 152849 | 1/03/23 | 291 |  |
| Euro | BOFA | Buy | 436981 | 464529 | 1/03/23 | 1839 |  |
| Euro | UBSW | Buy | 436981 | 464520 | 1/03/23 | 1848 |  |
| Euro | HSBK | Buy | 436981 | 464518 | 1/03/23 | 1850 |  |
| Euro | UBSW | Sell | 2552760 | 2635801 | 1/03/23 |  | (88631) |
| Euro | BOFA | Sell | 2552760 | 2635850 | 1/03/23 |  | (88582) |
| Euro | HSBK | Sell | 2552760 | 2635868 | 1/03/23 |  | (88564) |
| Norwegian Krone | BOFA | Buy | 1683900 | 170934 | 1/03/23 | 3 |  |
| Norwegian Krone | BOFA | Buy | 103782 | 10500 | 1/03/23 | 35 |  |
| Norwegian Krone | BOFA | Buy | 369218 | 37290 | 1/03/23 | 191 |  |
| Norwegian Krone | BOFA | Sell | 2156900 | 216565 | 1/03/23 |  | (2387) |
| Polish Zloty | BOFA | Buy | 219300 | 49996 | 1/03/23 | 1 |  |
| Polish Zloty | BOFA | Buy | 3653 | 829 | 1/03/23 | 3 |  |
| Polish Zloty | BOFA | Buy | 46047 | 10408 | 1/03/23 | 90 |  |
| Polish Zloty | BOFA | Sell | 269000 | 58765 | 1/03/23 |  | (2563) |
| Swedish Krona | BOFA | Buy | 1431629 | 137933 | 1/03/23 |  | (534) |
| Swedish Krona | BOFA | Buy | 445971 | 42903 | 1/03/23 |  | (102) |
| Swedish Krona | BOFA | Buy | 6485700 | 622445 | 1/03/23 | 12 |  |
| Swedish Krona | BOFA | Sell | 8363300 | 786239 | 1/03/23 |  | (16420) |
| Great British Pound | DBAB | Buy | 584922 | 711060 | 1/04/23 |  | (7458) |
| Great British Pound | DBAB | Buy | 2661300 | 3204205 | 1/04/23 |  | (2926) |
| Great British Pound | DBAB | Buy | 170778 | 207405 | 1/04/23 |  | (1976) |
| Great British Pound | DBAB | Sell | 3417000 | 4076529 | 1/04/23 |  | (33782) |
| Swicc Franc | MSCO | Buy | 144122 | 155941 | 1/04/23 |  | (167) |
| Swicc Franc | MSCO | Buy | 1804600 | 1950449 | 1/04/23 | 49 |  |
| Swicc Franc | MSCO | Buy | 402478 | 432579 | 1/04/23 | 2438 |  |
| Swicc Franc | MSCO | Sell | 2351200 | 2478904 | 1/04/23 |  | (62384) |
| Danish Krone | BOFA | Sell | 3989200 | 573815 | 2/02/23 | 53 |  |
| Euro | UBSW | Sell | 1988295 | 2126380 | 2/02/23 | 283 |  |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| **Forward Exchange Contracts** (continued) |  |  |  |  |  |  |  |
| **OTC Forward Exchange Contracts** (continued) |  |  |  |  |  |  |  |
| Euro | HSBK | Sell | 1988295 | $2126402 | 2/02/23 | $305 | $— |
| Euro | BOFA | Sell | 1988295 | 2126420 | 2/02/23 | 323 |  |
| Great British Pound | DBAB | Sell | 2698700 | 3251634 | 2/02/23 | 2860 |  |
| Norwegian Krone | BOFA | Sell | 1694800 | 172232 | 2/02/23 |  | (9) |
| Polish Zloty | BOFA | Sell | 227500 | 51719 | 2/02/23 |  | (27) |
| Swedish Krona | BOFA | Sell | 6501000 | 624969 | 2/02/23 | 25 |  |
| Swicc Franc | MSCO | Sell | 1817200 | 1970074 | 2/02/23 |  | (132) |
| &nbsp;&nbsp;&nbsp; Total Forward Exchange Contracts |  |  |  |  |  | $13676 | $(419221) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) |  |  |  |  |  |  | $(405545) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; EURO STOXX 50 Index | &nbsp;&nbsp;&nbsp; EURO STOXX 50 Index | Long | 2 | $80791 | 3/17/23 | $(664) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **ADR** | American Depositary Receipt |  |  |  |  |  |
| **BOFA** | Bank of America Corp. |  |  |  |  |  |
| **DBAB** | Deutsche Bank AG |  |  |  |  |  |
| **HSBK** | HSBC Bank PLC |  |  |  |  |  |
| **MSCO** | MorganStanley |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **SPA** | Standby Purchase Agreement |  |  |  |  |  |
| **UBSW** | UBS AG |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin FTSE France ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **France 97.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Accor SA | Hotels, Restaurants & Leisure | 592 | $14753 |
| &nbsp;&nbsp; <sup>a</sup> Aeroports de Paris | Transportation Infrastructure | 104 | 13896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Liquide SA | Chemicals | 1664 | 235130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbus SE | Aerospace & Defense | 1816 | 215171 |
| &nbsp;&nbsp; <sup>b</sup> ALD SA, 144A | Road & Rail | 372 | 4272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alstom SA | Machinery | 992 | 24160 |
| &nbsp;&nbsp; <sup>b</sup> Amundi SA, 144A | Capital Markets | 184 | 10408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arkema SA | Chemicals | 212 | 18978 |
| &nbsp;&nbsp;&nbsp;&nbsp; AXA SA | Insurance | 6024 | 167510 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioMerieux | Health Care Equipment & Supplies | 140 | 14631 |
| &nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA | Banks | 3480 | 197772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bollore SE | Entertainment | 3256 | 18139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bouygues SA | Construction & Engineering | 680 | 20349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bureau Veritas SA | Professional Services | 924 | 24269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capgemini SE | IT Services | 520 | 86548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrefour SA | Food & Staples Retailing | 1936 | 32315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie de L'Odet SE | Air Freight & Logistics | 1 | 1483 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | Auto Components | 2280 | 63230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compagnie de Saint-Gobain | Building Products | 1496 | 72885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Covivio | Equity Real Estate Investment Trusts (REITs) | 164 | 9705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA | Banks | 3968 | 41633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danone SA | Food Products | 1984 | 104241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Aviation SA | Aerospace & Defense | 76 | 12832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Systemes SE | Software | 2176 | 77787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edenred | IT Services | 812 | 44093 |
| &nbsp;&nbsp;&nbsp;&nbsp; EDF SA | Electric Utilities | 2056 | 26331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eiffage SA | Construction & Engineering | 244 | 23937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engie SA | Multi-Utilities | 5414 | 77357 |
| &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA | Textiles, Apparel & Luxury Goods | 968 | 174800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eurazeo SE | Diversified Financial Services | 160 | 9921 |
| &nbsp;&nbsp; <sup>a</sup> Faurecia SE | Auto Components | 520 | 7842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gecina SA | Equity Real Estate Investment Trusts (REITs) | 168 | 17060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Getlink SE | Transportation Infrastructure | 1144 | 18283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hermes International | Textiles, Apparel & Luxury Goods | 101 | 155760 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICADE | Equity Real Estate Investment Trusts (REITs) | 104 | 4466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ipsen SA | Pharmaceuticals | 112 | 12013 |
| &nbsp;&nbsp; <sup>a</sup> JCDecaux SE | Media | 236 | 4463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kering SA | Textiles, Apparel & Luxury Goods | 237 | 120272 |
| &nbsp;&nbsp; <sup>a</sup> Klepierre SA | Equity Real Estate Investment Trusts (REITs) | 624 | 14338 |
| &nbsp;&nbsp; <sup>b</sup> La Francaise des Jeux SAEM, 144A | Hotels, Restaurants & Leisure | 280 | 11230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legrand SA | Electrical Equipment | 872 | 69631 |
| &nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | Personal Products | 802 | 285540 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | Textiles, Apparel & Luxury Goods | 811 | 588480 |
| &nbsp;&nbsp; <sup>b</sup> Neoen SA, 144A | Independent Power Producers & Energy Traders | 144 | 5780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orange SA | Diversified Telecommunication Services | 6240 | 61808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pernod Ricard SA | Beverages | 668 | 131000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Publicis Groupe SA | Media | 740 | 46928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Remy Cointreau SA | Beverages | 80 | 13456 |
| &nbsp;&nbsp; <sup>a</sup> Renault SA | Automobiles | 628 | 20962 |
| &nbsp;&nbsp; <sup>a</sup> Rexel SA | Trading Companies & Distributors | 788 | 15508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safran SA | Aerospace & Defense | 1132 | 141254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanofi | Pharmaceuticals | 3548 | 340188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | Life Sciences Tools & Services | 78 | 25182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | Electrical Equipment | 1732 | 241633 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCOR SE | Insurance | 488 | 11192 |
| &nbsp;&nbsp;&nbsp;&nbsp; SEB SA | Household Durables | 100 | 8351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA | Banks | 2500 | 62648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sodexo SA | Hotels, Restaurants & Leisure | 284 | 27121 |
| &nbsp;&nbsp; <sup>a</sup> SOITEC | Semiconductors & Semiconductor Equipment | 80 | 13050 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Somfy SA | Electrical Equipment | 24 | 3663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teleperformance | Professional Services | 190 | 45159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thales SA | Aerospace & Defense | 328 | 41762 |
| &nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE | Oil, Gas & Consumable Fuels | 7588 | 474965 |
| <sup>a</sup> Ubisoft Entertainment SA | Entertainment | 312 | 8794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valeo | Auto Components | 800 | 14258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veolia Environnement SA | Multi-Utilities | 2028 | 51945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vinci SA | Construction & Engineering | 1616 | 160895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivendi SA | Media | 2248 | 21386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wendel SE | Diversified Financial Services | 88 | 8190 |
| <sup>a,b,c</sup> Worldline SA, 144A, Reg S | IT Services | 796 | 31033 |
|  |  |  | 5176025 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Luxembourg 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eurofins Scientific SE | Life Sciences Tools & Services | 400 | 28628 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Netherlands 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>b,c</sup> Euronext NV, 144A, Reg S | Capital Markets | 268 | 19781 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Switzerland 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics NV | Semiconductors & Semiconductor Equipment | 2064 | 72682 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $5,909,883) 100.0%** |  |  | 5297116 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | 796 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $5297912 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $82,504, representing 1.6% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $82,504, representing 1.6% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $82,504, representing 1.6% of net assets. |  |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. | <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. |
| Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption | Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption |
| from registration. At December 31, 2022, the value of was $50,815, representing 1.0% of net assets. | from registration. At December 31, 2022, the value of was $50,815, representing 1.0% of net assets. |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**REIT** – Real Estate Investment Trust

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**Franklin FTSE Germany ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp;**Common Stocks 95.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Germany 94.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;1&1 Drillisch AG | Wireless Telecommunication Services | 592 | $7329 |
| &nbsp;&nbsp;&nbsp;adidas AG | Textiles, Apparel & Luxury Goods | 2192 | 298181 |
| &nbsp;&nbsp;&nbsp;Allianz SE | Insurance | 5296 | 1135518 |
| &nbsp;&nbsp;&nbsp;Aroundtown SA | Real Estate Management & Development | 9024 | 21024 |
| &nbsp;&nbsp;&nbsp;BASF SE | Chemicals | 11920 | 590156 |
| &nbsp;&nbsp;&nbsp;Bayer AG | Pharmaceuticals | 12800 | 660158 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | Automobiles | 4128 | 367339 |
| &nbsp;&nbsp;&nbsp;Bechtle AG | IT Services | 1056 | 37259 |
| &nbsp;&nbsp;&nbsp;Beiersdorf AG | Personal Products | 1296 | 148274 |
| &nbsp;&nbsp;&nbsp;Brenntag SE | Trading Companies & Distributors | 2016 | 128492 |
| &nbsp;&nbsp;&nbsp;Carl Zeiss Meditec AG | Health Care Equipment & Supplies | 480 | 60398 |
| &nbsp;&nbsp;<sup>a</sup> Commerzbank AG | Banks | 13536 | 127647 |
| &nbsp;&nbsp;&nbsp;Continental AG | Auto Components | 1408 | 84120 |
| &nbsp;&nbsp;<sup>b</sup> Covestro AG, 144A | Chemicals | 2320 | 90498 |
| &nbsp;&nbsp;<sup>a</sup> CTS Eventim AG & Co. KGaA | Entertainment | 768 | 48851 |
| &nbsp;&nbsp;&nbsp;Daimler AG | Automobiles | 10944 | 717151 |
| &nbsp;&nbsp;<sup>a</sup> Daimler Truck Holding AG | Machinery | 5472 | 169038 |
| <sup>a,b</sup> Delivery Hero SE, 144A | Internet & Direct Marketing Retail | 2432 | 116229 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | Capital Markets | 26432 | 298683 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG | Capital Markets | 2400 | 413410 |
| &nbsp;&nbsp;<sup>a</sup> Deutsche Lufthansa AG | Airlines | 7776 | 64441 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | Air Freight & Logistics | 12624 | 473979 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | Diversified Telecommunication Services | 44112 | 877449 |
| &nbsp;&nbsp;&nbsp;Deutsche Wohnen SE | Real Estate Management & Development | 624 | 13243 |
| &nbsp;&nbsp;<sup>b</sup> DWS Group GmbH & Co. KGaA, 144A | Capital Markets | 448 | 14516 |
| &nbsp;&nbsp;&nbsp;E.ON SE | Multi-Utilities | 28896 | 287853 |
| &nbsp;&nbsp;&nbsp;Evonik Industries AG | Chemicals | 2464 | 47164 |
| &nbsp;&nbsp;<sup>a</sup> Evotec SE | Life Sciences Tools & Services | 2064 | 33615 |
| &nbsp;&nbsp;&nbsp;Fielmann AG | Specialty Retail | 320 | 12643 |
| &nbsp;&nbsp;<sup>a</sup> Fraport AG Frankfurt Airport Services Worldwide | Transportation Infrastructure | 464 | 18843 |
| &nbsp;&nbsp;&nbsp;Fresenius Medical Care AG & Co. KGaA | Health Care Providers & Services | 2640 | 86132 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | Health Care Providers & Services | 5328 | 149266 |
| &nbsp;&nbsp;&nbsp;Fuchs Petrolub SE | Chemicals | 432 | 12817 |
| &nbsp;&nbsp;&nbsp;GEA Group AG | Machinery | 2128 | 86756 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck SE | Insurance | 784 | 155212 |
| &nbsp;&nbsp;&nbsp;HeidelbergCement AG | Construction Materials | 1888 | 107357 |
| &nbsp;&nbsp;&nbsp;Hella GmbH & Co. KGaA | Auto Components | 304 | 24674 |
| &nbsp;&nbsp;<sup>a</sup> HelloFresh SE | Internet & Direct Marketing Retail | 2096 | 45925 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA | Household Products | 1312 | 84364 |
| &nbsp;&nbsp;&nbsp;HOCHTIEF AG | Construction & Engineering | 272 | 15293 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | Semiconductors & |  |  |
|  | Semiconductor Equipment | 16944 | 514113 |
| &nbsp;&nbsp;&nbsp;KION Group AG | Machinery | 1008 | 28799 |
| &nbsp;&nbsp;&nbsp;Knorr-Bremse AG | Machinery | 864 | 47064 |
| &nbsp;&nbsp;&nbsp;LANXESS AG | Chemicals | 1136 | 45707 |
| &nbsp;&nbsp;&nbsp;LEG Immobilien SE | Real Estate Management & Development | 960 | 62355 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | Pharmaceuticals | 1680 | 324350 |
| &nbsp;&nbsp;<sup>a</sup> METRO AG | Food & Staples Retailing | 1728 | 16828 |
| &nbsp;&nbsp;&nbsp;MTU Aero Engines AG | Aerospace & Defense | 694 | 149764 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aktiengesellschaft in Muenchen | Insurance | 1824 | 591786 |
| &nbsp;&nbsp;&nbsp;Nemetschek SE | Software | 704 | 35832 |
| &nbsp;&nbsp;&nbsp;Puma SE | Textiles, Apparel & Luxury Goods | 1296 | 78425 |
| &nbsp;&nbsp;&nbsp;Rational AG | Machinery | 64 | 37909 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | Industrial Conglomerates | 560 | 111195 |
| &nbsp;&nbsp;&nbsp;RWE AG | Multi-Utilities | 8192 | 363618 |
| &nbsp;&nbsp;&nbsp;SAP SE | Software | 14448 | 1486297 |
| &nbsp;&nbsp;&nbsp;Sartorius AG | Health Care Equipment & Supplies | 32 | 11424 |
| <sup>b,c</sup> Scout24 AG, 144A, Reg S | Interactive Media & Services | 992 | 49685 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Siemens AG | Industrial Conglomerates | 9824 | 1359231 |
| &nbsp;&nbsp; <sup>a</sup> Siemens Energy AG | Electrical Equipment | 5568 | 104438 |
| &nbsp;&nbsp; <sup>b</sup> Siemens Healthineers AG, 144A | Health Care Equipment & Supplies | 3600 | 179541 |
| &nbsp;&nbsp;&nbsp; Sixt SE | Road & Rail | 176 | 16145 |
| &nbsp;&nbsp;&nbsp; Symrise AG | Chemicals | 1696 | 183992 |
| &nbsp;&nbsp;&nbsp; Talanx AG | Insurance | 688 | 32543 |
| &nbsp;&nbsp;&nbsp; Telefonica Deutschland Holding AG | Diversified Telecommunication Services | 11728 | 28826 |
| &nbsp;&nbsp;&nbsp; thyssenkrupp AG | Metals & Mining | 6416 | 39003 |
| &nbsp;&nbsp;&nbsp; Traton SE | Machinery | 656 | 9893 |
| &nbsp;&nbsp;&nbsp; United Internet AG | Diversified Telecommunication Services | 1424 | 28708 |
| &nbsp;&nbsp;&nbsp; Vantage Towers AG | Diversified Telecommunication Services | 1200 | 41110 |
| &nbsp;&nbsp;&nbsp; Varta AG | Electrical Equipment | 176 | 4234 |
| &nbsp;&nbsp;&nbsp; Volkswagen AG | Automobiles | 368 | 57989 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | Real Estate Management & Development | 9232 | 216960 |
| &nbsp;&nbsp;&nbsp; Wacker Chemie AG | Chemicals | 192 | 24466 |
| <sup>a,b</sup> Zalando SE, 144A | Internet & Direct Marketing Retail | 2880 | 101770 |
|  |  |  | 14515297 |
| &nbsp;&nbsp;&nbsp; **Luxembourg 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; RTL Group SA | Media | 496 | 20877 |
| &nbsp;&nbsp; <sup>a</sup> SUSE SA | Software | 512 | 9202 |
|  |  |  | 30079 |
| &nbsp;&nbsp;&nbsp; **Netherlands 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; QIAGEN NV | Life Sciences Tools & Services | 2864 | 143691 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $17,781,753)** |  |  | 14689067 |
| &nbsp;&nbsp;&nbsp; **Preferred Stocks 4.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Germany 4.7%** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Bayerische Motoren Werke AG, 7.316%, pfd. | Automobiles | 768 | 65203 |
| &nbsp;&nbsp; <sup>d</sup> Fuchs Petrolub SE, 3.145%,pfd. | Chemicals | 912 | 31867 |
| &nbsp;&nbsp; <sup>d</sup> Henkel AG & Co. KGaA, 2.845%, pfd. | Household Products | 2192 | 152109 |
| &nbsp;&nbsp; <sup>d</sup> Sartorius AG, 0.341%, pfd. | Health Care Equipment & Supplies | 320 | 126157 |
| &nbsp;&nbsp; <sup>d</sup> Sixt SE, 6.825%, pfd. | Road & Rail | 224 | 13029 |
| &nbsp;&nbsp; <sup>d</sup> Volkswagen AG, 22.86%, pfd. | Automobiles | 2624 | 326030 |
| &nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $1,006,503)** |  |  | 714395 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $18,788,256) 100.0%** |  |  | 15403462 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | 6364 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $15409826 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $552,239, representing 3.6% of net assets.<br> <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br> Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br> from registration. At December 31, 2022, the value of was $49,685, representing 0.3% of net assets.<br> <sup>d</sup>Variable rate security. The rate shown represents the yield at period end.

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Franklin FTSE Hong Kong ETF** | **Industry** | **Shares** |  |
| **Common Stocks 99.8%** |  |  |  |
| **Cambodia 0.3%** |  |  |  |
| <sup>a</sup> NagaCorp Ltd. | Hotels, Restaurants & Leisure | 52378 | $46171 |
| **China 9.8%** |  |  |  |
| <sup>a</sup> AAC Technologies Holdings Inc., H | Electronic Equipment, Instruments & Components | 23000 | 52572 |
| BOC Hong Kong Holdings Ltd. | Banks | 122500 | 417491 |
| <sup>b</sup> Budweiser Brewing Co. APAC Ltd., H, 144A | Beverages | 58100 | 182750 |
| <sup>a</sup> China Travel International Investment Hong Kong |  |  |  |
| Ltd., A | Hotels, Restaurants & Leisure | 84000 | 19049 |
| Chow Tai Fook Jewellery Group Ltd., A | Specialty Retail | 60200 | 122792 |
| <sup>b</sup> ESR Group Ltd., H, 144A | Real Estate Management & Development | 68600 | 143969 |
| <sup>a</sup> HUTCHMED China Ltd. | Pharmaceuticals | 17500 | 53812 |
| Kerry Logistics Network Ltd. | Air Freight & Logistics | 10500 | 18888 |
| Lenovo Group Ltd. | Technology Hardware, Storage & Peripherals | 256000 | 210246 |
| <sup>a</sup> MMG Ltd. | Metals & Mining | 84000 | 21525 |
| Nexteer Automotive Group Ltd. | Auto Components | 28000 | 18332 |
| <sup>a</sup> Shangri-La Asia Ltd. | Hotels, Restaurants & Leisure | 38000 | 31160 |
| SITC International Holdings Co. Ltd. | Marine | 40000 | 88969 |
| Want Want China Holdings Ltd. | Food Products | 147000 | 98314 |
|  |  |  | 1479869 |
| **Hong Kong 77.6%** |  |  |  |
| AIA Group Ltd. | Insurance | 273800 | 3044970 |
| ASMPT Ltd., A | Semiconductors & Semiconductor Equipment | 10500 | 74866 |
| Cafe de Coral Holdings Ltd., A | Hotels, Restaurants & Leisure | 12000 | 22909 |
| <sup>a</sup> Cathay Pacific Airways Ltd., A | Airlines | 35000 | 38207 |
| Champion REIT, A | Equity Real Estate Investment Trusts (REITs) | 70000 | 27624 |
| CK Asset Holdings Ltd. | Real Estate Management & Development | 66500 | 409397 |
| CK Infrastructure Holdings Ltd., A | Electric Utilities | 20300 | 106247 |
| CLP Holdings Ltd. | Electric Utilities | 55900 | 407883 |
| Dah Sing Banking Group Ltd., A | Banks | 11200 | 8036 |
| Dah Sing Financial Holdings Ltd., H | Banks | 5600 | 12972 |
| DFI Retail Group Holdings Ltd., A | Food & Staples Retailing | 10200 | 29886 |
| Guotai Junan International Holdings Ltd. | Capital Markets | 77000 | 7103 |
| <sup>a</sup> Haitong International Securities Group Ltd. | Capital Markets | 98000 | 10924 |
| Hang Lung Group Ltd. | Real Estate Management & Development | 29000 | 53282 |
| Hang Lung Properties Ltd. | Real Estate Management & Development | 63000 | 123176 |
| Hang Seng Bank Ltd. | Banks | 24800 | 412436 |
| Henderson Land Development Co. Ltd. | Real Estate Management & Development | 44000 | 153620 |
| Hong Kong & China Gas Co. Ltd. | Gas Utilities | 371000 | 352702 |
| Hong Kong Exchanges & Clearing Ltd. | Capital Markets | 43400 | 1875025 |
| Hongkong Land Holdings Ltd. | Real Estate Management & Development | 37800 | 173880 |
| Huabao International Holdings Ltd. | Chemicals | 35000 | 18072 |
| Hutchison Telecommunications Hong Kong |  |  |  |
| Holdings Ltd. | Diversified Telecommunication Services | 42000 | 6565 |
| Hysan Development Co. Ltd. | Real Estate Management & Development | 21000 | 68072 |
| Jardine Matheson Holdings Ltd. | Industrial Conglomerates | 6750 | 343575 |
| Johnson Electric Holdings Ltd. | Electrical Equipment | 12000 | 15113 |
| Kerry Properties Ltd. | Real Estate Management & Development | 21000 | 45740 |
| Link REIT | Equity Real Estate Investment Trusts (REITs) | 72100 | 529322 |
| Man Wah Holdings Ltd. | Household Durables | 53200 | 52962 |
| <sup>a</sup> Melco International Development Ltd. | Hotels, Restaurants & Leisure | 28000 | 30350 |
| MTR Corp. Ltd. | Road & Rail | 49000 | 259598 |
| New World Development Co. Ltd. | Real Estate Management & Development | 49000 | 138117 |
| NWS Holdings Ltd. | Industrial Conglomerates | 48000 | 41512 |
| Orient Overseas International Ltd. | Marine | 4400 | 79488 |
| PCCW Ltd. | Diversified Telecommunication Services | 140000 | 63139 |
| Power Assets Holdings Ltd. | Electric Utilities | 47000 | 257433 |
| Sino Land Co. Ltd. | Real Estate Management & Development | 125300 | 156686 |
| Sun Hung Kai Properties Ltd. | Real Estate Management & Development | 48533 | 664107 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Swire Pacific Ltd., A | Real Estate Management & Development | 14500 | 127631 |
| &nbsp;&nbsp;&nbsp; Swire Pacific Ltd., B | Real Estate Management & Development | 30000 | 40820 |
| &nbsp;&nbsp;&nbsp; Swire Properties Ltd. | Real Estate Management & Development | 36400 | 92528 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co. Ltd. | Household Durables | 45000 | 502181 |
| &nbsp;&nbsp;&nbsp; The Bank of East Asia Ltd., A | Banks | 31600 | 38301 |
| &nbsp;&nbsp;&nbsp; The Wharf Holdings Ltd. | Real Estate Management & Development | 32833 | 96544 |
| &nbsp;&nbsp;&nbsp; United Energy Group Ltd. | Oil, Gas & Consumable Fuels | 252000 | 24861 |
| &nbsp;&nbsp; <sup>a</sup> Vitasoy International Holdings Ltd. | Food Products | 28000 | 57615 |
| &nbsp;&nbsp;&nbsp; VTech Holdings Ltd. | Communications Equipment | 5600 | 36090 |
| &nbsp;&nbsp; <sup>b</sup> WH Group Ltd., 144A | Food Products | 265748 | 154581 |
| &nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co. Ltd. | Real Estate Management & Development | 52500 | 306056 |
| &nbsp;&nbsp;&nbsp; Xinyi Glass Holdings Ltd. | Auto Components | 70133 | 130652 |
| &nbsp;&nbsp;&nbsp; Yue Yuen Industrial Holdings Ltd. | Textiles, Apparel & Luxury Goods | 24500 | 34404 |
|  |  |  | 11757260 |
| &nbsp;&nbsp;&nbsp; **Indonesia 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; First Pacific Co. Ltd. | Diversified Financial Services | 84000 | 25076 |
| &nbsp;&nbsp;&nbsp; **Italy 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; PRADA SpA | Textiles, Apparel & Luxury Goods | 17500 | 98880 |
| &nbsp;&nbsp;&nbsp; **Luxembourg 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; L'Occitane International SA | Specialty Retail | 15750 | 49137 |
| &nbsp;&nbsp;&nbsp; **Macau 5.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Galaxy Entertainment Group Ltd. | Hotels, Restaurants & Leisure | 73330 | 484799 |
| &nbsp;&nbsp; <sup>a</sup> MGM China Holdings Ltd. | Hotels, Restaurants & Leisure | 26000 | 28648 |
| &nbsp;&nbsp; <sup>a</sup> Sands China Ltd. | Hotels, Restaurants & Leisure | 82000 | 272109 |
| &nbsp;&nbsp; <sup>a</sup> SJM Holdings Ltd. | Hotels, Restaurants & Leisure | 77000 | 44592 |
| &nbsp;&nbsp; <sup>a</sup> Wynn Macau Ltd. | Hotels, Restaurants & Leisure | 50400 | 56180 |
|  |  |  | 886328 |
| &nbsp;&nbsp;&nbsp; **Singapore 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>b</sup> BOC Aviation Ltd., A, 144A | Trading Companies & Distributors | 7000 | 58431 |
| &nbsp;&nbsp;&nbsp; **Taiwan 0.1%** |  |  |  |
| <sup>a,b</sup> FIT Hon Teng Ltd., 144A | Electronic Equipment, Instruments & Components | 35000 | 9193 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CK Hutchison Holdings Ltd., A | Real Estate Management & Development | 91000 | 546237 |
| &nbsp;&nbsp;&nbsp; **United States 1.1%** |  |  |  |
| &nbsp;&nbsp; <sup>b</sup> JS Global Lifestyle Co. Ltd., 144A | Household Durables | 42000 | 47193 |
| <sup>a,b</sup> Samsonite International SA, 144A | Textiles, Apparel & Luxury Goods | 43800 | 115323 |
|  |  |  | 162516 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $16,785,170) 99.8%** |  |  | 15119098 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.2%** |  |  | 32702 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $15151800 |

---

<sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $711,440, representing 4.7% of net assets.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| MINI HSI IDX | MINI HSI IDX | Long | 1 | $25516 | 1/30/23 | $615 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **SPA** | Standby Purchase Agreement |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin FTSE India ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 101.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **India 101.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M India Ltd. | Industrial Conglomerates | 176 | $46682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aarti Industries Ltd. | Chemicals | 12496 | 92153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aarti Pharmalabs Ltd. | Pharmaceuticals | 2527 | 11595 |
| &nbsp;&nbsp;&nbsp;&nbsp; ABB India Ltd. | Electrical Equipment | 3300 | 107022 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACC Ltd. | Construction Materials | 5368 | 158425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Enterprises Ltd. | Trading Companies & Distributors | 17116 | 798254 |
| &nbsp;&nbsp; <sup>a</sup> Adani Green Energy Ltd. | Independent Power Producers & Energy Traders | 24948 | 582552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Ports & Special Economic Zone Ltd. | Transportation Infrastructure | 50776 | 502113 |
| &nbsp;&nbsp; <sup>a</sup> Adani Power Ltd. | Independent Power Producers & Energy Traders | 60852 | 220334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Total Gas Ltd. | Gas Utilities | 17380 | 775798 |
| &nbsp;&nbsp; <sup>a</sup> Adani Transmission Ltd. | Electric Utilities | 15884 | 497131 |
| &nbsp;&nbsp; <sup>a</sup> Adani Wilmar Ltd. | Food Products | 10032 | 74897 |
| &nbsp;&nbsp; <sup>a</sup> Aditya Birla Capital Ltd. | Diversified Financial Services | 29348 | 53283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alkem Laboratories Ltd. | Pharmaceuticals | 1584 | 57530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ambuja Cements Ltd. | Construction Materials | 43032 | 272611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. | Health Care Providers & Services | 6204 | 335779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashok Leyland Ltd. | Machinery | 90552 | 156958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asian Paints Ltd. | Chemicals | 28292 | 1056000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astral Ltd. | Building Products | 5632 | 133696 |
| &nbsp;&nbsp; <sup>b</sup> AU Small Finance Bank Ltd., 144A | Banks | 20284 | 160460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurobindo Pharma Ltd. | Pharmaceuticals | 16500 | 87416 |
| <sup>a,b</sup> Avenue Supermarts Ltd., 144A | Food & Staples Retailing | 9328 | 458761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axis Bank Ltd. | Banks | 142604 | 1609531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Auto Ltd. | Automobiles | 4268 | 186550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Finance Ltd. | Consumer Finance | 14784 | 1175000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Finserv Ltd. | Diversified Financial Services | 23980 | 448658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bajaj Holdings & Investment Ltd. | Diversified Financial Services | 1672 | 116040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balkrishna Industries Ltd. | Auto Components | 5104 | 131487 |
| <sup>a,b</sup> Bandhan Bank Ltd., 144A | Banks | 49280 | 139507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Baroda | Banks | 64416 | 144591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of India | Banks | 28512 | 30414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bata India Ltd. | Textiles, Apparel & Luxury Goods | 3872 | 77185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayer CropScience Ltd. | Chemicals | 792 | 47267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berger Paints India Ltd. | Chemicals | 15268 | 107289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. | Aerospace & Defense | 205172 | 247754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharat Forge Ltd. | Auto Components | 15840 | 168462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharat Heavy Electricals Ltd. | Electrical Equipment | 81576 | 78095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharat Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 62964 | 251536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. | Wireless Telecommunication Services | 9020 | 47275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. | Wireless Telecommunication Services | 145112 | 1413934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biocon Ltd. | Biotechnology | 28248 | 89408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bosch Ltd. | Auto Components | 528 | 110184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Britannia Industries Ltd. | Food Products | 7436 | 387165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canara Bank Ltd. | Banks | 22440 | 90406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Castrol India Ltd. | Chemicals | 32522 | 48412 |
| &nbsp;&nbsp; <sup>a</sup> CG Power & Industrial Solutions Ltd. | Electrical Equipment | 45402 | 148340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cholamandalam Investment and Finance Co. Ltd. | Consumer Finance | 25300 | 221073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cipla Ltd. | Pharmaceuticals | 32076 | 417166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coal India Ltd. | Oil, Gas & Consumable Fuels | 118492 | 322333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coforge Ltd. | IT Services | 2200 | 103288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive India Ltd. | Personal Products | 8404 | 156063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Container Corp. Of India Ltd. | Road & Rail | 17336 | 154815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coromandel International Ltd. | Chemicals | 6864 | 73606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins India Ltd. | Machinery | 8448 | 140960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dabur India Ltd. | Personal Products | 36212 | 245754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dalmia Bharat Ltd. | Construction Materials | 5148 | 115916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deepak Nitrite Ltd. | Chemicals | 4620 | 110868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Divi's Laboratories Ltd. | Life Sciences Tools & Services | 8008 | 330387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dixon Technologies India Ltd. | Household Durables | 2244 | 105910 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; DLF Ltd. | Real Estate Management & Development | 38720 | 175511 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Dr Lal PathLabs Ltd., 144A | Health Care Providers & Services | 2244 | 61313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dr Reddy's Laboratories Ltd. | Pharmaceuticals | 7568 | 387644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eicher Motors Ltd. | Automobiles | 8712 | 339903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emami Ltd. | Personal Products | 12804 | 65784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Embassy Office Parks REIT | Equity Real Estate Investment Trusts (REITs) | 38676 | 157102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exide Industries Ltd. | Auto Components | 28952 | 63080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Bank Ltd. | Banks | 98824 | 166100 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> FSN E-Commerce Ventures Ltd. | Internet & Catalog Retail | 22968 | 42990 |
| &nbsp;&nbsp;&nbsp;&nbsp; GAIL India Ltd. | Gas Utilities | 164314 | 190769 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> General Insurance Corp. of India, 144A | Insurance | 6688 | 14450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gillette India Ltd. | Personal Products | 506 | 30784 |
| &nbsp;&nbsp;&nbsp;&nbsp; GlaxoSmithKline Pharmaceuticals Ltd. | Pharmaceuticals | 2684 | 42784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glenmark Pharmaceuticals Ltd. | Pharmaceuticals | 9504 | 48726 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> GMR Airports Infrastructure Ltd. | Construction & Engineering | 150964 | 72535 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Godrej Consumer Products Ltd. | Personal Products | 23012 | 243124 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Godrej Industries Ltd. | Chemicals | 5290 | 27489 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Godrej Properties Ltd. | Real Estate Management & Development | 5456 | 80768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grasim Industries Ltd. | Construction Materials | 24068 | 501405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gujarat Fluorochemicals Ltd. | Chemicals | 2200 | 82724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gujarat Gas Ltd. | Gas Utilities | 12364 | 72655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Havells India Ltd. | Electrical Equipment | 15180 | 201828 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCL Technologies Ltd. | IT Services | 68112 | 855661 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> HDFC Asset Management Co. Ltd., 144A | Capital Markets | 4224 | 111382 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> HDFC Life Insurance Co. Ltd., 144A | Insurance | 61996 | 424335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hero MotoCorp Ltd. | Automobiles | 8184 | 270939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hindalco Industries Ltd. | Metals & Mining | 88440 | 506020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. | Aerospace & Defense | 5192 | 158857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Petroleum Corp. Ltd. | Oil, Gas & Consumable Fuels | 43472 | 123564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Unilever Ltd. | Household Products | 55616 | 1721689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Zinc Ltd. | Metals & Mining | 14696 | 57146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Honeywell Automation India Ltd. | Electronic Equipment, Instruments & Components | 140 | 70570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Housing Development Finance Corp. Ltd. | Thrifts & Mortgage Finance | 110000 | 3507023 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICICI Bank Ltd. | Banks | 98164 | 1057046 |
| &nbsp;&nbsp; <sup>b,c</sup> ICICI Lombard General Insurance Co. Ltd., 144A | Insurance | 15136 | 226281 |
| &nbsp;&nbsp; <sup>b,c</sup> ICICI Prudential Life Insurance Co. Ltd., 144A | Insurance | 23848 | 130093 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> IDFC First Bank Ltd. | Banks | 190828 | 135630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Hotels Co. Ltd. | Hotels, Restaurants & Leisure | 51744 | 199302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Oil Corp. Ltd. | Oil, Gas & Consumable Fuels | 257840 | 238423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Railway Catering & Tourism Corp. Ltd. | Commercial Services & Supplies | 18876 | 145956 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Indian Railway Finance Corp. Ltd., 144A | Diversified Financial Services | 110220 | 43366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indraprastha Gas Ltd. | Gas Utilities | 21824 | 109199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indus Towers Ltd. | Diversified Telecommunication Services | 54604 | 125702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Info Edge India Ltd. | Interactive Media & Services | 4752 | 225856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infosys Ltd. | IT Services | 222816 | 4062022 |
| <sup>a,b,c</sup> InterGlobe Aviation Ltd., 144A | Airlines | 6776 | 164441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ipca Laboratories Ltd. | Pharmaceuticals | 8492 | 86542 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITC Ltd. | Tobacco | 185548 | 743605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jindal Steel & Power Ltd. | Metals & Mining | 24332 | 170762 |
| &nbsp;&nbsp;&nbsp;&nbsp; JSW Energy Ltd. | Independent Power Producers & Energy Traders | 23628 | 82140 |
| &nbsp;&nbsp;&nbsp;&nbsp; JSW Steel Ltd. | Metals & Mining | 62832 | 583321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jubilant Foodworks Ltd. | Hotels, Restaurants & Leisure | 22528 | 139163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kansai Nerolac Paints Ltd. | Chemicals | 8184 | 43452 |
| &nbsp;&nbsp;&nbsp;&nbsp; L&T Finance Holdings Ltd. | Diversified Financial Services | 57376 | 60511 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> L&T Technology Services Ltd., 144A | Professional Services | 1672 | 74446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Larsen & Toubro Ltd. | Construction & Engineering | 43208 | 1089366 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Laurus Labs Ltd., 144A | Pharmaceuticals | 22792 | 103381 |
| &nbsp;&nbsp;&nbsp;&nbsp; LIC Housing Finance Ltd. | Thrifts & Mortgage Finance | 20372 | 101983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde India Ltd. | Chemicals | 1364 | 56630 |
| &nbsp;&nbsp; <sup>b,c</sup> LTIMindtree Ltd., 144A, Reg S | IT Services | 4793 | 252911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lupin Ltd. | Pharmaceuticals | 15004 | 133065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macrotech Developers Ltd. | Real Estate Management & Development | 7040 | 92827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra Financial Services Ltd. | Consumer Finance | 37268 | 105682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | Automobiles | 57684 | 871012 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Mangalore Refinery & Petrochemicals Ltd. | Oil, Gas & Consumable Fuels | 14352 | 9732 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Marico Ltd. | Personal Products | 32736 | 201746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maruti Suzuki India Ltd. | Automobiles | 8316 | 843823 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Max Financial Services Ltd. | Insurance | 15048 | 123232 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Max Healthcare Institute Ltd. | Health Care Providers & Services | 46552 | 247334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mphasis Ltd. | IT Services | 6380 | 152139 |
| &nbsp;&nbsp;&nbsp;&nbsp; MRF Ltd. | Auto Components | 169 | 180859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Muthoot Finance Ltd. | Consumer Finance | 6820 | 87634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nestle India Ltd. | Food Products | 2244 | 531801 |
| &nbsp;&nbsp;&nbsp;&nbsp; NHPC Ltd. | Independent Power Producers & Energy Traders | 142076 | 68264 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Nippon Life India Asset Management Ltd., 144A | Capital Markets | 10076 | 30345 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMDC Ltd. | Metals & Mining | 72996 | 108572 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMDC Steel Ltd. | Metals & Mining | 64701 | 28976 |
| &nbsp;&nbsp;&nbsp;&nbsp; NTPC Ltd. | Independent Power Producers & Energy Traders | 278124 | 559576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oberoi Realty Ltd. | Real Estate Management & Development | 7348 | 77090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp. Ltd. | Oil, Gas & Consumable Fuels | 231264 | 410226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil India Ltd. | Oil, Gas & Consumable Fuels | 20988 | 52819 |
| &nbsp;&nbsp;&nbsp;&nbsp; One 97 Communications Ltd. | IT Services | 5852 | 37561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Financial Services Software Ltd. | Software | 1452 | 53063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Page Industries Ltd. | Textiles, Apparel & Luxury Goods | 362 | 187440 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> PB Fintech Ltd. | Insurance | 10120 | 54839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Persistent Systems Ltd. | IT Services | 3124 | 146171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Petronet LNG Ltd. | Oil, Gas & Consumable Fuels | 46948 | 122265 |
| &nbsp;&nbsp;&nbsp;&nbsp; PI Industries Ltd. | Chemicals | 4576 | 189163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pidilite Industries Ltd. | Chemicals | 9548 | 294317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piramal Enterprises Ltd. | Pharmaceuticals | 7974 | 79846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polycab India Ltd. | Electrical Equipment | 2992 | 92914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Finance Corp. Ltd. | Diversified Financial Services | 72908 | 124392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | Electric Utilities | 197164 | 509295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Punjab National Bank | Banks | 69432 | 47376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rajesh Exports Ltd. | Textiles, Apparel & Luxury Goods | 8694 | 76894 |
| <sup>a,b,c</sup> RBL Bank Ltd., 144A | Banks | 27148 | 58870 |
| &nbsp;&nbsp;&nbsp;&nbsp; REC Ltd. | Diversified Financial Services | 77364 | 108944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Relaxo Footwears Ltd. | Textiles, Apparel & Luxury Goods | 4664 | 51305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reliance Industries Ltd. | Oil, Gas & Consumable Fuels | 210804 | 6490511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Samvardhana Motherson International Ltd. | Auto Components | 133496 | 119651 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBI Cards & Payment Services Ltd. | Consumer Finance | 17952 | 172620 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> SBI Life Insurance Co. Ltd., 144A | Insurance | 26356 | 392266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schaeffler India Ltd. | Machinery | 2552 | 84727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shree Cement Ltd. | Construction Materials | 836 | 235344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shriram Transport Finance Co. Ltd. | Consumer Finance | 14740 | 245322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens Ltd. | Industrial Conglomerates | 5544 | 189406 |
| &nbsp;&nbsp;&nbsp; <sup>b</sup> Sona Blw Precision Forgings Ltd., 144A | Auto Components | 16016 | 81213 |
| &nbsp;&nbsp;&nbsp;&nbsp; SRF Ltd. | Chemicals | 8800 | 243625 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Star Health & Allied Insurance Co. Ltd. | Insurance | 5236 | 35841 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Bank of India | Banks | 112024 | 831006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Authority of India Ltd. | Metals & Mining | 89584 | 89497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Pharmaceutical Industries Ltd. | Pharmaceuticals | 68244 | 826055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun TV Network Ltd. | Media | 6116 | 35977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tata Communications Ltd. | Diversified Telecommunication Services | 7128 | 109806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. | IT Services | 64020 | 2520173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tata Consumer Products Ltd. | Food Products | 37928 | 351612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tata Elxsi Ltd. | Software | 2156 | 163815 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Tata Motors Ltd. | Automobiles | 24244 | 60266 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Tata Motors Ltd., A | Automobiles | 115456 | 541414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tata Steel Ltd. | Metals & Mining | 511192 | 696069 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Tata Teleservices Maharashtra Ltd. | Diversified Telecommunication Services | 34040 | 38163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tech Mahindra Ltd. | IT Services | 38016 | 467055 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Tata Power Co. Ltd. | Electric Utilities | 103840 | 260698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Titan Co. Ltd. | Textiles, Apparel & Luxury Goods | 26092 | 819219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Torrent Pharmaceuticals Ltd. | Pharmaceuticals | 6072 | 113807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Torrent Power Ltd. | Electric Utilities | 13420 | 79866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trent Ltd. | Multiline Retail | 11396 | 186148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tube Investments of India Ltd. | Auto Components | 6116 | 205189 |
| &nbsp;&nbsp;&nbsp;&nbsp; TVS Motor Co. Ltd. | Automobiles | 12496 | 163945 |
| &nbsp;&nbsp;&nbsp;&nbsp; UltraTech Cement Ltd. | Construction Materials | 7172 | 603292 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Bank of India Ltd. | Banks | 71896 | 69871 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Breweries Ltd. | Beverages | 4312 | 88596 |
| &nbsp;&nbsp; <sup>a</sup> United Spirits Ltd. | Beverages | 17996 | 190891 |
| &nbsp;&nbsp;&nbsp;&nbsp; UNO Minda Ltd. | Auto Components | 10604 | 66805 |
| &nbsp;&nbsp;&nbsp;&nbsp; UPL Ltd. | Chemicals | 33088 | 286425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varun Beverages Ltd. | Beverages | 12778 | 204273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vedanta Ltd. | Metals & Mining | 76912 | 286712 |
| &nbsp;&nbsp; <sup>a</sup> Vodafone Idea Ltd. | Wireless Telecommunication Services | 514448 | 49125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voltas Ltd. | Construction & Engineering | 14520 | 140382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Whirlpool of India Ltd. | Household Durables | 1980 | 35831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wipro Ltd. | IT Services | 79244 | 376201 |
| &nbsp;&nbsp; <sup>a</sup> Yes Bank Ltd. | Banks | 786169 | 195758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zee Entertainment Enterprises Ltd. | Media | 51656 | 149885 |
| &nbsp;&nbsp; <sup>a</sup> Zomato Ltd. | Internet & Catalog Retail | 269192 | 192954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zydus Lifesciences Ltd. | Pharmaceuticals | 15620 | 79289 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $59,140,859) 101.3%** |  |  | 64778268 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities (1.3)%** |  |  | (857348) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $63920920 |

---

<sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $2,927,821, representing 4.6% of net assets.<br> <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br> Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br> from registration. At December 31, 2022, the value of was $832,596, representing 1.3% of net assets.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| SGX Nifty 50 | SGX Nifty 50 | Long | 4 | $145784 | 1/25/23 | $966 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **SRF** | State Revolving Fund |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Italy ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Italy 89.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; A2A SpA | Multi-Utilities | 19593 | $26034 |
| &nbsp;&nbsp;&nbsp; Amplifon SpA | Health Care Providers & Services | 1650 | 48990 |
| &nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | Insurance | 8175 | 144962 |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | Diversified Financial Services | 3090 | 25716 |
| &nbsp;&nbsp;&nbsp; Buzzi Unicem SpA | Construction Materials | 1104 | 21208 |
| &nbsp;&nbsp;&nbsp; Davide Campari-Milano NV | Beverages | 6375 | 64526 |
| &nbsp;&nbsp;&nbsp; De' Longhi SpA | Household Durables | 888 | 19883 |
| &nbsp;&nbsp;&nbsp; DiaSorin SpA | Health Care Equipment & Supplies | 282 | 39246 |
| &nbsp;&nbsp;&nbsp; Enel SpA | Electric Utilities | 62817 | 337218 |
| &nbsp;&nbsp;&nbsp; Eni SpA | Oil, Gas & Consumable Fuels | 18675 | 264802 |
| &nbsp;&nbsp;&nbsp; Ferrari NV | Automobiles | 1027 | 219432 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | Banks | 6474 | 107234 |
| &nbsp;&nbsp;&nbsp; Hera SpA | Multi-Utilities | 10098 | 27148 |
| <sup>a,b</sup> Infrastrutture Wireless Italiane SpA, 144A, Reg S | Diversified Telecommunication Services | 4521 | 45423 |
| &nbsp;&nbsp;&nbsp; Interpump Group SpA | Machinery | 1026 | 46165 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | Banks | 133563 | 296209 |
| &nbsp;&nbsp;&nbsp; Italgas SpA | Gas Utilities | 6300 | 34896 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA | Aerospace & Defense | 5139 | 44206 |
| &nbsp;&nbsp;&nbsp; Mediobanca Banca di Credito Finanziario SpA | Banks | 8163 | 78268 |
| &nbsp;&nbsp;&nbsp; Moncler SpA | Textiles, Apparel & Luxury Goods | 2073 | 109514 |
| <sup>a,c</sup> Nexi SpA, 144A | IT Services | 7134 | 56083 |
| <sup>a</sup> Pirelli & C SpA, 144A | Auto Components | 6288 | 26870 |
| <sup>a,b</sup> Poste Italiane SpA, 144A, Reg S | Insurance | 5865 | 57124 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | Electrical Equipment | 2817 | 104203 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | Pharmaceuticals | 1248 | 51612 |
| &nbsp;&nbsp;&nbsp; Reply SpA | IT Services | 290 | 33117 |
| &nbsp;&nbsp;&nbsp; Snam SpA | Gas Utilities | 21414 | 103460 |
| &nbsp;&nbsp; <sup>c</sup> Telecom Italia SpA | Diversified Telecommunication Services | 137889 | 31831 |
| &nbsp;&nbsp; <sup>c</sup> Telecom Italia SpA/Milano | Diversified Telecommunication Services | 77043 | 17127 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | Energy Equipment & Services | 6003 | 104333 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | Electric Utilities | 13983 | 102971 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | Banks | 16365 | 231803 |
| &nbsp;&nbsp;&nbsp; UnipolSai Assicurazioni SpA | Insurance | 5469 | 13436 |
|  |  |  | 2935050 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CNH Industrial NV | Machinery | 7623 | 121750 |
| &nbsp;&nbsp;&nbsp; **United States 7.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Stellantis NV | Automobiles | 17064 | 241558 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $3,224,394) 100.0%** |  |  | 3298358 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | 803 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $3299161 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $185,500, representing 5.6% of net assets.<br> <sup>b</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br> Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br> from registration. At December 31, 2022, the value of was $102,547, representing 3.1% of net assets.<br> <sup>c</sup>Non-income producing.<br>**Selected Portfolio**<br>**SPA** – Standby Purchase Agreement

------

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| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Japan ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Japan 99.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; ABC-Mart Inc. | Specialty Retail | 6000 | $339687 |
| &nbsp;&nbsp;&nbsp; Acom Co. Ltd. | Consumer Finance | 90000 | 215544 |
| &nbsp;&nbsp;&nbsp; Activia Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 180 | 563417 |
| &nbsp;&nbsp;&nbsp; Advance Residence Investment | Equity Real Estate Investment Trusts (REITs) | 300 | 770776 |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | Semiconductors & Semiconductor Equipment | 44900 | 2885687 |
| &nbsp;&nbsp;&nbsp; AEON Co. Ltd. | Food & Staples Retailing | 168000 | 3543476 |
| &nbsp;&nbsp;&nbsp; AEON Financial Service Co. Ltd. | Consumer Finance | 30000 | 318314 |
| &nbsp;&nbsp;&nbsp; AEON Mall Co. Ltd. | Real Estate Management & Development | 30000 | 387662 |
| &nbsp;&nbsp;&nbsp; AEON REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 420 | 491796 |
| &nbsp;&nbsp;&nbsp; AGC Inc. | Building Products | 42000 | 1398992 |
| &nbsp;&nbsp;&nbsp; Aica Kogyo Co. Ltd. | Building Products | 12000 | 284664 |
| &nbsp;&nbsp;&nbsp; AIN Holdings Inc. | Food & Staples Retailing | 6000 | 274660 |
| &nbsp;&nbsp;&nbsp; Air Water Inc. | Chemicals | 42000 | 488613 |
| &nbsp;&nbsp;&nbsp; Aisin Corp. | Auto Components | 42000 | 1123650 |
| &nbsp;&nbsp;&nbsp; Ajinomoto Co. Inc. | Food Products | 114000 | 3482769 |
| &nbsp;&nbsp;&nbsp; Alfresa Holdings Corp. | Health Care Providers & Services | 42000 | 533495 |
| &nbsp;&nbsp;&nbsp; Alps Alpine Co. Ltd. | Electronic Equipment, Instruments & Components | 48000 | 435454 |
| &nbsp;&nbsp;&nbsp; Amada Co. Ltd. | Machinery | 72000 | 564235 |
| &nbsp;&nbsp;&nbsp; Amano Corp. | Electronic Equipment, Instruments & Components | 18000 | 331911 |
| <sup>a</sup> ANA Holdings Inc. | Airlines | 36000 | 763955 |
| &nbsp;&nbsp;&nbsp; Anritsu Corp. | Electronic Equipment, Instruments & Components | 30000 | 291485 |
| &nbsp;&nbsp;&nbsp; Aozora Bank Ltd. | Banks | 30000 | 590019 |
| &nbsp;&nbsp;&nbsp; Ariake Japan Co. Ltd. | Food Products | 6000 | 198492 |
| &nbsp;&nbsp;&nbsp; AS One Corp. | Health Care Providers & Services | 6000 | 261927 |
| &nbsp;&nbsp;&nbsp; Asahi Group Holdings Ltd. | Beverages | 114000 | 3558801 |
| &nbsp;&nbsp;&nbsp; Asahi Intecc Co. Ltd. | Health Care Equipment & Supplies | 48000 | 787237 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | Chemicals | 294000 | 2097629 |
| &nbsp;&nbsp;&nbsp; Asics Corp. | Textiles, Apparel & Luxury Goods | 42000 | 927568 |
| &nbsp;&nbsp;&nbsp; ASKUL Corp. | Internet & Direct Marketing Retail | 12000 | 155428 |
| &nbsp;&nbsp;&nbsp; Astellas Pharma Inc. | Pharmaceuticals | 438000 | 6660707 |
| &nbsp;&nbsp;&nbsp; Azbil Corp. | Electronic Equipment, Instruments & Components | 30000 | 755997 |
| &nbsp;&nbsp;&nbsp; AZ-COM MARUWA Holdings Inc. | Air Freight & Logistics | 6000 | 71621 |
| &nbsp;&nbsp;&nbsp; Bandai Namco Holdings Inc. | Leisure Products | 45680 | 2878347 |
| &nbsp;&nbsp;&nbsp; BayCurrent Consulting Inc. | Professional Services | 30000 | 935617 |
| &nbsp;&nbsp;&nbsp; Benefit One Inc. | Professional Services | 12000 | 175801 |
| &nbsp;&nbsp;&nbsp; Benesse Holdings Inc. | Diversified Consumer Services | 18000 | 273659 |
| &nbsp;&nbsp;&nbsp; BIC Camera Inc. | Specialty Retail | 36000 | 349782 |
| &nbsp;&nbsp;&nbsp; BIPROGY Inc. | IT Services | 18000 | 456326 |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. | Auto Components | 132000 | 4692955 |
| &nbsp;&nbsp;&nbsp; Brother Industries Ltd. | Technology Hardware, Storage & Peripherals | 54000 | 821388 |
| &nbsp;&nbsp;&nbsp; Calbee Inc. | Food Products | 18000 | 408170 |
| &nbsp;&nbsp;&nbsp; CANON Inc. | Technology Hardware, Storage & Peripherals | 234000 | 5064133 |
| &nbsp;&nbsp;&nbsp; Canon Marketing Japan Inc. | Electronic Equipment, Instruments & Components | 12000 | 271841 |
| &nbsp;&nbsp;&nbsp; Capcom Co. Ltd. | Entertainment | 42000 | 1340104 |
| &nbsp;&nbsp;&nbsp; Casio Computer Co. Ltd. | Household Durables | 54000 | 549638 |
| &nbsp;&nbsp;&nbsp; Central Japan Railway Co. | Road & Rail | 43100 | 5293384 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co. Inc. | Electric Utilities | 168000 | 1734177 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co. Ltd. | Pharmaceuticals | 154260 | 3937608 |
| &nbsp;&nbsp;&nbsp; Chugin Financial Group Inc. | Banks | 42000 | 304309 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Bottlers Japan Holdings Inc. | Beverages | 36000 | 392072 |
| &nbsp;&nbsp;&nbsp; COMSYS Holdings Corp. | Construction & Engineering | 24000 | 421085 |
| &nbsp;&nbsp;&nbsp; Concordia Financial Group Ltd. | Banks | 264000 | 1100459 |
| &nbsp;&nbsp;&nbsp; Cosmo Energy Holdings Co. Ltd. | Oil, Gas & Consumable Fuels | 18000 | 476107 |
| &nbsp;&nbsp;&nbsp; Cosmos Pharmaceutical Corp. | Food & Staples Retailing | 4340 | 438786 |
| &nbsp;&nbsp;&nbsp; Credit Saison Co. Ltd. | Consumer Finance | 36000 | 464102 |
| &nbsp;&nbsp;&nbsp; CyberAgent Inc. | Media | 102000 | 902922 |
| &nbsp;&nbsp;&nbsp; Dai Nippon Printing Co. Ltd. | Commercial Services & Supplies | 60000 | 1205048 |
| &nbsp;&nbsp;&nbsp; Daicel Corp. | Chemicals | 60000 | 434272 |
| &nbsp;&nbsp;&nbsp; Daido Steel Co. Ltd. | Metals & Mining | 8200 | 268165 |

---

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| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Daifuku Co. Ltd. | Machinery | 24000 | 1124105 |
| Dai-ichi Life Holdings Inc. | Insurance | 234000 | 5309758 |
| Daiichi Sankyo Co. Ltd. | Pharmaceuticals | 450000 | 14494676 |
| Daiichikosho Co. Ltd. | Entertainment | 12000 | 361969 |
| Daikin Industries Ltd. | Building Products | 63480 | 9718413 |
| Daio Paper Corp. | Paper & Forest Products | 18000 | 138058 |
| Daito Trust Construction Co. Ltd. | Real Estate Management & Development | 15430 | 1583404 |
| Daiwa House Industry Co. Ltd. | Real Estate Management & Development | 156000 | 3593043 |
| Daiwa House REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 480 | 1067354 |
| Daiwa Office Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 60 | 291030 |
| Daiwa Securities Group Inc. | Capital Markets | 348000 | 1537641 |
| Daiwa Securities Living Investments Corp. | Equity Real Estate Investment Trusts (REITs) | 480 | 417992 |
| DeNA Co. Ltd. | Entertainment | 24000 | 321225 |
| Denka Co. Ltd. | Chemicals | 18000 | 412672 |
| Denso Corp. | Auto Components | 108000 | 5349865 |
| Dentsu Group Inc. | Media | 48000 | 1507901 |
| Descente Ltd. | Textiles, Apparel & Luxury Goods | 12000 | 293759 |
| DIC Corp. | Chemicals | 18000 | 317314 |
| Disco Corp. | Semiconductors & Semiconductor Equipment | 6624 | 1895153 |
| DMG Mori Co. Ltd. | Machinery | 24000 | 319224 |
| Dowa Holdings Co. Ltd. | Metals & Mining | 12000 | 377430 |
| East Japan Railway Co. | Road & Rail | 85720 | 4885478 |
| EBARA Corp. | Machinery | 24000 | 858540 |
| Eisai Co. Ltd. | Pharmaceuticals | 62420 | 4117653 |
| Electric Power Development Co. Ltd. | Independent Power Producers & Energy Traders | 42000 | 667187 |
| ENEOS Holdings Inc. | Oil, Gas & Consumable Fuels | 678000 | 2302050 |
| EXEO Group Inc. | Construction & Engineering | 24000 | 408898 |
| Ezaki Glico Co. Ltd. | Food Products | 12000 | 329228 |
| Fancl Corp. | Personal Products | 18000 | 366698 |
| FANUC Corp. | Machinery | 45800 | 6885013 |
| Fast Retailing Co. Ltd. | Specialty Retail | 12176 | 7431379 |
| Food & Life Companies Ltd. | Hotels, Restaurants & Leisure | 24000 | 472561 |
| FP Corp. | Containers & Packaging | 12000 | 344689 |
| Frontier Real Estate Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 120 | 465649 |
| Fuji Electric Co. Ltd. | Electrical Equipment | 30000 | 1143658 |
| Fuji Kyuko Co. Ltd. | Hotels, Restaurants & Leisure | 6000 | 217363 |
| Fuji Media Holdings Inc. | Media | 12000 | 97677 |
| Fuji Oil Holdings Inc. | Food Products | 12000 | 185350 |
| FUJIFILM Holdings Corp. | Technology Hardware, Storage & Peripherals | 84000 | 4217666 |
| Fujitsu General Ltd. | Household Durables | 12000 | 287847 |
| Fujitsu Ltd. | IT Services | 44460 | 5935525 |
| Fukuoka Financial Group Inc. | Banks | 36000 | 819887 |
| Furukawa Electric Co. Ltd. | Electrical Equipment | 12000 | 225003 |
| Fuyo General Lease Co. Ltd. | Diversified Financial Services | 6000 | 391982 |
| GLP J-Reit | Equity Real Estate Investment Trusts (REITs) | 1080 | 1238425 |
| GMO internet Inc. | IT Services | 12000 | 224275 |
| GMO Payment Gateway Inc. | IT Services | 9220 | 763063 |
| Goldwin Inc. | Textiles, Apparel & Luxury Goods | 8080 | 584819 |
| GS Yuasa Corp. | Electrical Equipment | 18000 | 289211 |
| <sup>a</sup> GungHo Online Entertainment Inc. | Entertainment | 6000 | 96949 |
| H.U. Group Holdings Inc. | Health Care Providers & Services | 12000 | 262018 |
| Hachijuni Bank Ltd. | Banks | 108000 | 449369 |
| Hakuhodo DY Holdings Inc. | Media | 60000 | 604797 |
| Hamamatsu Photonics K.K. | Electronic Equipment, Instruments & Components | 30000 | 1436962 |
| Hankyu Hanshin Holdings Inc. | Road & Rail | 54000 | 1604305 |
| Haseko Corp. | Household Durables | 60000 | 669825 |
| Heiwa Corp. | Leisure Products | 12000 | 226003 |
| Hikari Tsushin Inc. | Specialty Retail | 5400 | 762045 |
| <sup>a</sup> Hino Motors Ltd. | Machinery | 66000 | 251605 |
| Hirogin Holdings Inc. | Banks | 72000 | 360696 |
| Hirose Electric Co. Ltd. | Electronic Equipment, Instruments & Components | 7560 | 951124 |
| Hisamitsu Pharmaceutical Co. Inc. | Pharmaceuticals | 18000 | 535450 |
| Hitachi Construction Machinery Co. Ltd. | Machinery | 24000 | 538224 |
| Hitachi Ltd. | Industrial Conglomerates | 216000 | 10953473 |
| Honda Motor Co. Ltd. | Automobiles | 408000 | 9375543 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; HORIBA Ltd. | Electronic Equipment, Instruments & Components | 8700 | 377817 |
| &nbsp;&nbsp;&nbsp; Hoshizaki Corp. | Machinery | 30000 | 1058396 |
| &nbsp;&nbsp;&nbsp; House Foods Group Inc. | Food Products | 18000 | 378976 |
| &nbsp;&nbsp;&nbsp; Hoya Corp. | Health Care Equipment & Supplies | 83700 | 8059483 |
| &nbsp;&nbsp;&nbsp; Hulic Co. Ltd. | Real Estate Management & Development | 102000 | 803971 |
| &nbsp;&nbsp;&nbsp; Ibiden Co. Ltd. | Electronic Equipment, Instruments & Components | 24000 | 870363 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | Oil, Gas & Consumable Fuels | 54000 | 1256433 |
| &nbsp;&nbsp;&nbsp; IHI Corp. | Machinery | 30000 | 874228 |
| &nbsp;&nbsp;&nbsp; Iida Group Holdings Co. Ltd. | Household Durables | 36000 | 545955 |
| &nbsp;&nbsp;&nbsp; Industrial & Infrastructure Fund Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 480 | 552230 |
| &nbsp;&nbsp;&nbsp; Information Services International-Dentsu Ltd. | IT Services | 6000 | 178483 |
| &nbsp;&nbsp;&nbsp; INFRONEER Holdings Inc. | Construction & Engineering | 54000 | 409671 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | Oil, Gas & Consumable Fuels | 228000 | 2412278 |
| &nbsp;&nbsp;&nbsp; Internet Initiative Japan Inc. | Diversified Telecommunication Services | 24000 | 445640 |
| &nbsp;&nbsp;&nbsp; Isetan Mitsukoshi Holdings Ltd. | Multiline Retail | 84000 | 914836 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors Ltd. | Automobiles | 120000 | 1406950 |
| &nbsp;&nbsp;&nbsp; Ito En Ltd. | Beverages | 12000 | 435636 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | Trading Companies & Distributors | 318000 | 9992254 |
| &nbsp;&nbsp;&nbsp; Itochu Techno-Solutions Corp. | IT Services | 24000 | 558414 |
| &nbsp;&nbsp;&nbsp; Itoham Yonekyu Holdings Inc. | Food Products | 30000 | 159385 |
| &nbsp;&nbsp;&nbsp; Iwatani Corp. | Oil, Gas & Consumable Fuels | 12000 | 526583 |
| &nbsp;&nbsp;&nbsp; Iyogin Holdings Inc. | Banks | 66000 | 357649 |
| &nbsp;&nbsp;&nbsp; Izumi Co. Ltd. | Multiline Retail | 12000 | 271750 |
| &nbsp;&nbsp;&nbsp; J Front Retailing Co. Ltd. | Multiline Retail | 60000 | 546137 |
| <sup>a</sup> Japan Airlines Co. Ltd. | Airlines | 36000 | 735306 |
| <sup>a</sup> Japan Airport Terminal Co. Ltd. | Transportation Infrastructure | 12000 | 593884 |
| &nbsp;&nbsp;&nbsp; Japan Aviatn Elect | Electronic Equipment, Instruments & Components | 12000 | 191807 |
| &nbsp;&nbsp;&nbsp; Japan Exchange Group Inc. | Capital Markets | 126000 | 1812005 |
| &nbsp;&nbsp;&nbsp; Japan Hotel REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 1080 | 634355 |
| &nbsp;&nbsp;&nbsp; Japan Logistics Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 240 | 570238 |
| &nbsp;&nbsp;&nbsp; Japan Metropolitan Fund Invest | Equity Real Estate Investment Trusts (REITs) | 1620 | 1285490 |
| &nbsp;&nbsp;&nbsp; Japan Post Bank Co. Ltd. | Banks | 96000 | 820706 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | Insurance | 510000 | 4288491 |
| &nbsp;&nbsp;&nbsp; Japan Post Insurance Co. Ltd. | Insurance | 48000 | 844352 |
| &nbsp;&nbsp;&nbsp; Japan Prime Realty Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 240 | 673917 |
| &nbsp;&nbsp;&nbsp; Japan Real Estate Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 300 | 1311910 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco Inc. | Tobacco | 282000 | 5687233 |
| &nbsp;&nbsp;&nbsp; JCR Pharmaceuticals Co. Ltd. | Pharmaceuticals | 12000 | 152882 |
| &nbsp;&nbsp;&nbsp; Jeol Ltd. | Health Care Equipment & Supplies | 12000 | 326500 |
| &nbsp;&nbsp;&nbsp; JFE Holdings Inc. | Metals & Mining | 126000 | 1466793 |
| &nbsp;&nbsp;&nbsp; JGC Holdings Corp. | Construction & Engineering | 54000 | 686741 |
| &nbsp;&nbsp;&nbsp; JMDC Inc. | Health Care Technology | 6000 | 171890 |
| &nbsp;&nbsp;&nbsp; JSR Corp. | Chemicals | 42000 | 823798 |
| &nbsp;&nbsp;&nbsp; JTEKT Corp. | Auto Components | 54000 | 380204 |
| &nbsp;&nbsp;&nbsp; Justsystems Corp. | Software | 6000 | 128099 |
| &nbsp;&nbsp;&nbsp; Kadokawa Corp. | Media | 24000 | 436546 |
| &nbsp;&nbsp;&nbsp; Kagome Co. Ltd. | Food Products | 18000 | 416765 |
| &nbsp;&nbsp;&nbsp; Kajima Corp. | Construction & Engineering | 108000 | 1257251 |
| &nbsp;&nbsp;&nbsp; Kakaku.com Inc. | Interactive Media & Services | 30000 | 480200 |
| &nbsp;&nbsp;&nbsp; Kaken Pharmaceutical Co. Ltd. | Pharmaceuticals | 6000 | 176892 |
| &nbsp;&nbsp;&nbsp; Kamigumi Co. Ltd. | Transportation Infrastructure | 24000 | 488749 |
| &nbsp;&nbsp;&nbsp; Kandenko Co. Ltd. | Construction & Engineering | 24000 | 156611 |
| &nbsp;&nbsp;&nbsp; Kaneka Corp. | Chemicals | 12000 | 299216 |
| &nbsp;&nbsp;&nbsp; Kansai Paint Co. Ltd. | Chemicals | 42000 | 515351 |
| &nbsp;&nbsp;&nbsp; Kao Corp. | Personal Products | 108000 | 4301338 |
| &nbsp;&nbsp;&nbsp; Katitas Co. Ltd. | Real Estate Management & Development | 12000 | 274660 |
| &nbsp;&nbsp;&nbsp; Kawasaki Heavy Industries Ltd. | Machinery | 36000 | 843079 |
| &nbsp;&nbsp;&nbsp; Kawasaki Kisen Kaisha Ltd. | Marine | 54000 | 1140612 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | Wireless Telecommunication Services | 384000 | 11588829 |
| &nbsp;&nbsp;&nbsp; Keihan Holdings Co. Ltd. | Industrial Conglomerates | 24000 | 627534 |
| &nbsp;&nbsp;&nbsp; Keikyu Corp. | Road & Rail | 60000 | 632536 |
| &nbsp;&nbsp;&nbsp; Keio Corp. | Road & Rail | 27120 | 994815 |
| &nbsp;&nbsp;&nbsp; Keisei Electric Railway Co. Ltd. | Road & Rail | 36000 | 1024518 |
| &nbsp;&nbsp;&nbsp; Kenedix Office Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 170 | 412293 |
| &nbsp;&nbsp;&nbsp; Kewpie Corp. | Food Products | 24000 | 434727 |

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------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Keyence Corp. | Electronic Equipment, Instruments & Components | 46727 | 18209878 |
| Kikkoman Corp. | Food Products | 42000 | 2209102 |
| Kinden Corp. | Construction & Engineering | 30000 | 326954 |
| Kintetsu Group Holdings Co. Ltd. | Road & Rail | 42000 | 1386259 |
| Kirin Holdings Co. Ltd. | Beverages | 180000 | 2743416 |
| Kobayashi Pharmaceutical Co. Ltd. | Personal Products | 14080 | 963601 |
| Kobe Bussan Co. Ltd. | Food & Staples Retailing | 36000 | 1034067 |
| Kobe Steel Ltd. | Metals & Mining | 78000 | 379522 |
| Koei Tecmo Holdings Co. Ltd. | Entertainment | 36000 | 652636 |
| Koito Manufacturing Co. Ltd. | Auto Components | 55040 | 828864 |
| Kokuyo Co. Ltd. | Commercial Services & Supplies | 24000 | 337959 |
| Komatsu Ltd. | Machinery | 222000 | 4838925 |
| Konami Holdings Corp. | Entertainment | 24000 | 1085907 |
| Konica Minolta Inc. | Technology Hardware, Storage & Peripherals | 108000 | 431362 |
| Kose Corp. | Personal Products | 6780 | 740972 |
| Kotobuki Spirits Co. Ltd. | Food Products | 6000 | 351510 |
| K's Holdings Corp. | Specialty Retail | 36000 | 307765 |
| Kubota Corp. | Machinery | 258000 | 3552889 |
| Kuraray Co. Ltd. | Chemicals | 78000 | 625442 |
| Kurita Water Industries Ltd. | Machinery | 24000 | 993141 |
| Kusuri no Aoki Holdings Co. Ltd. | Food & Staples Retailing | 3420 | 199065 |
| Kyocera Corp. | Electronic Equipment, Instruments & Components | 72700 | 3610068 |
| Kyowa Kirin Co. Ltd. | Pharmaceuticals | 60000 | 1373299 |
| Kyudenko Corp. | Construction & Engineering | 12000 | 296942 |
| Kyushu Electric Power Co. Inc. | Electric Utilities | 108000 | 608981 |
| Kyushu Financial Group Inc. | Banks | 90000 | 309674 |
| Kyushu Railway Co. | Road & Rail | 36000 | 797241 |
| LaSalle Logiport REIT | Equity Real Estate Investment Trusts (REITs) | 420 | 509621 |
| Lasertec Corp. | Semiconductors & Semiconductor Equipment | 18000 | 2966463 |
| Lawson Inc. | Food & Staples Retailing | 12000 | 457463 |
| LINTEC Corp. | Chemicals | 12000 | 195263 |
| Lion Corp. | Household Products | 60000 | 688469 |
| Lixil Corp. | Building Products | 60000 | 909925 |
| M3 Inc. | Health Care Technology | 99972 | 2710977 |
| Mabuchi Motor Co. Ltd. | Electrical Equipment | 12000 | 339687 |
| Makita Corp. | Machinery | 60000 | 1400584 |
| Mani Inc. | Health Care Equipment & Supplies | 12000 | 184622 |
| Marubeni Corp. | Trading Companies & Distributors | 372000 | 4271325 |
| Marui Group Co. Ltd. | Multiline Retail | 48000 | 793421 |
| Maruichi Steel Tube Ltd. | Metals & Mining | 12000 | 245830 |
| Matsui Securities Co. Ltd. | Capital Markets | 24000 | 142787 |
| MatsukiyoCocokara & Co. | Food & Staples Retailing | 30000 | 1500625 |
| Mazda Motor Corp. | Automobiles | 138000 | 1051120 |
| Mebuki Financial Group Inc. | Banks | 240000 | 607526 |
| Medipal Holdings Corp. | Health Care Providers & Services | 36000 | 475016 |
| MEIJI Holdings Co. Ltd. | Food Products | 30000 | 1532457 |
| Menicon Co. Ltd. | Health Care Equipment & Supplies | 12000 | 252651 |
| Minebea Mitsumi Inc. | Machinery | 102000 | 1523680 |
| MISUMI Group Inc. | Machinery | 66000 | 1440100 |
| Mitsubishi Chemical Group Corp. | Chemicals | 306000 | 1587921 |
| Mitsubishi Corp. | Trading Companies & Distributors | 282000 | 9153860 |
| Mitsubishi Electric Corp. | Electrical Equipment | 468000 | 4658896 |
| Mitsubishi Estate Co. Ltd. | Real Estate Management & Development | 270000 | 3501232 |
| Mitsubishi Gas Chemical Co. Inc. | Chemicals | 42000 | 580287 |
| Mitsubishi HC Capital Inc. | Diversified Financial Services | 150660 | 741054 |
| Mitsubishi Heavy Industries Ltd. | Machinery | 66000 | 2618091 |
| Mitsubishi Logistics Corp. | Transportation Infrastructure | 12000 | 275569 |
| Mitsubishi Materials Corp. | Metals & Mining | 30000 | 473834 |
| <sup>a</sup> Mitsubishi Motors Corp. | Automobiles | 150000 | 579787 |
| Mitsubishi UFJ Lease & finance Co. Ltd. | Banks | 2820000 | 19000189 |
| Mitsui & Co. Ltd. | Trading Companies & Distributors | 360000 | 10512562 |
| Mitsui Chemicals Inc. | Chemicals | 42000 | 946985 |
| Mitsui Fudosan Co. Ltd. | Real Estate Management & Development | 216000 | 3956740 |
| Mitsui Fudosan Logistics Park Inc. | Equity Real Estate Investment Trusts (REITs) | 120 | 437455 |
| Mitsui High-Tec Inc. | Semiconductors & Semiconductor Equipment | 6000 | 278753 |

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------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Mitsui Mining & Smelting Co. Ltd. | Metals & Mining | 12000 | 280571 |
| &nbsp;&nbsp;&nbsp; Mitsui OSK Lines Ltd. | Marine | 78000 | 1944901 |
| &nbsp;&nbsp;&nbsp; Miura Co. Ltd. | Machinery | 24000 | 552958 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group Inc. | Banks | 606000 | 8524279 |
| <sup>a</sup> Money Forward Inc. | Software | 12000 | 370154 |
| &nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. | Trading Companies & Distributors | 56080 | 789272 |
| &nbsp;&nbsp;&nbsp; Mori Hills REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 360 | 429452 |
| &nbsp;&nbsp;&nbsp; Morinaga & Co. Ltd. | Food Products | 12000 | 356967 |
| &nbsp;&nbsp;&nbsp; Morinaga Milk Industry Co. Ltd. | Food Products | 6000 | 227140 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings Inc. | Insurance | 109660 | 3510583 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co. Ltd. | Electronic Equipment, Instruments & Components | 132000 | 6590746 |
| &nbsp;&nbsp;&nbsp; Nabtesco Corp. | Machinery | 30000 | 765092 |
| &nbsp;&nbsp;&nbsp; Nagase & Co. Ltd. | Trading Companies & Distributors | 24000 | 364152 |
| &nbsp;&nbsp;&nbsp; Nagoya Railroad Co. Ltd. | Road & Rail | 48000 | 792694 |
| &nbsp;&nbsp;&nbsp; Nankai Electric Railway Co. Ltd. | Road & Rail | 24000 | 518580 |
| &nbsp;&nbsp;&nbsp; NEC Corp. | IT Services | 66000 | 2318466 |
| &nbsp;&nbsp;&nbsp; NEC Networks & System Integration Corp. | IT Services | 18000 | 225367 |
| &nbsp;&nbsp;&nbsp; NET One Systems Co. Ltd. | IT Services | 18000 | 467922 |
| &nbsp;&nbsp;&nbsp; Nexon Co. Ltd. | Entertainment | 96000 | 2155080 |
| &nbsp;&nbsp;&nbsp; NGK Insulators Ltd. | Machinery | 60000 | 763045 |
| &nbsp;&nbsp;&nbsp; NGK Spark Plug Co. Ltd. | Auto Components | 48000 | 887279 |
| &nbsp;&nbsp;&nbsp; NH Foods Ltd. | Food Products | 24000 | 668460 |
| &nbsp;&nbsp;&nbsp; NHK Spring Co. Ltd. | Auto Components | 36000 | 230823 |
| &nbsp;&nbsp;&nbsp; Nichirei Corp. | Food Products | 24000 | 523309 |
| &nbsp;&nbsp;&nbsp; Nidec Corp. | Electrical Equipment | 108650 | 5631569 |
| &nbsp;&nbsp;&nbsp; Nifco Inc. | Auto Components | 18000 | 422903 |
| &nbsp;&nbsp;&nbsp; Nihon Kohden Corp. | Health Care Equipment & Supplies | 18000 | 437228 |
| &nbsp;&nbsp;&nbsp; Nihon M&A Center Holdings Inc. | Professional Services | 62060 | 766196 |
| &nbsp;&nbsp;&nbsp; Nikon Corp. | Household Durables | 78000 | 695199 |
| &nbsp;&nbsp;&nbsp; Nintendo Co. Ltd. | Entertainment | 252000 | 10565493 |
| &nbsp;&nbsp;&nbsp; Nippon Accommodations Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 120 | 548410 |
| &nbsp;&nbsp;&nbsp; Nippon Building Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 360 | 1604305 |
| &nbsp;&nbsp;&nbsp; Nippon Electric Glass Co. Ltd. | Electronic Equipment, Instruments & Components | 18000 | 319770 |
| &nbsp;&nbsp;&nbsp; Nippon Express Co. Ltd. | Road & Rail | 18000 | 1028610 |
| &nbsp;&nbsp;&nbsp; Nippon Kayaku Co. Ltd. | Chemicals | 42000 | 362878 |
| &nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co. Ltd. | Chemicals | 246000 | 1937125 |
| &nbsp;&nbsp;&nbsp; Nippon Prologis REIT Inc. | Equity Real Estate Investment Trusts (REITs) | 540 | 1262572 |
| &nbsp;&nbsp;&nbsp; Nippon Sanso Holdings Corp. | Chemicals | 36000 | 522763 |
| &nbsp;&nbsp;&nbsp; Nippon Shinyaku Co. Ltd. | Pharmaceuticals | 12000 | 680283 |
| &nbsp;&nbsp;&nbsp; Nippon Shokubai Co. Ltd. | Chemicals | 6000 | 240100 |
| &nbsp;&nbsp;&nbsp; Nippon Steel Corp. | Metals & Mining | 198000 | 3439433 |
| &nbsp;&nbsp;&nbsp; Nippon Telegraph & Telephone Corp. | Diversified Telecommunication Services | 276000 | 7869279 |
| &nbsp;&nbsp;&nbsp; Nippon Television Holdings Inc. | Media | 6000 | 47383 |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK | Marine | 114670 | 2702821 |
| &nbsp;&nbsp;&nbsp; Nipro Corp. | Health Care Equipment & Supplies | 30000 | 235098 |
| &nbsp;&nbsp;&nbsp; Nishi-Nippon Railroad Co. Ltd. | Road & Rail | 18000 | 337095 |
| &nbsp;&nbsp;&nbsp; Nissan Chemical Corp. | Chemicals | 31760 | 1391283 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd. | Automobiles | 468000 | 1482972 |
| &nbsp;&nbsp;&nbsp; Nisshin Seifun Group Inc. | Food Products | 60000 | 751677 |
| &nbsp;&nbsp;&nbsp; Nissin Foods Holdings Co. Ltd. | Food Products | 18000 | 1421501 |
| &nbsp;&nbsp;&nbsp; Nitori Holdings Co. Ltd. | Specialty Retail | 18000 | 2325969 |
| &nbsp;&nbsp;&nbsp; Nitto Denko Corp. | Chemicals | 36000 | 2087233 |
| &nbsp;&nbsp;&nbsp; Noevir Holdings Co. Ltd. | Personal Products | 6000 | 263292 |
| &nbsp;&nbsp;&nbsp; NOF Corp. | Chemicals | 18000 | 720300 |
| &nbsp;&nbsp;&nbsp; NOK Corp. | Auto Components | 30000 | 266929 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings Inc. | Capital Markets | 720000 | 2666202 |
| &nbsp;&nbsp;&nbsp; Nomura Real Estate Holdings Inc. | Real Estate Management & Development | 24000 | 514760 |
| &nbsp;&nbsp;&nbsp; Nomura Real Estate Master Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 1080 | 1334192 |
| &nbsp;&nbsp;&nbsp; Nomura Research Institute Ltd. | IT Services | 102000 | 2408049 |
| &nbsp;&nbsp;&nbsp; NS Solutions Corp. | IT Services | 6000 | 145515 |
| &nbsp;&nbsp;&nbsp; NSK Ltd. | Machinery | 108000 | 573785 |
| &nbsp;&nbsp;&nbsp; NTT Data Corp. | IT Services | 150000 | 2196370 |
| &nbsp;&nbsp;&nbsp; Obayashi Corp. | Construction & Engineering | 162000 | 1225329 |
| &nbsp;&nbsp;&nbsp; OBIC Business Consultants Co. Ltd. | Software | 6000 | 195309 |
| &nbsp;&nbsp;&nbsp; OBIC Co. Ltd. | IT Services | 15800 | 2324287 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Odakyu Electric Railway Co. Ltd. | Road & Rail | 72000 | 933662 |
| Oji Holdings Corp. | Paper & Forest Products | 210000 | 845125 |
| OKUMA Corp. | Machinery | 6000 | 213725 |
| Olympus Corp. | Health Care Equipment & Supplies | 300000 | 5347683 |
| Omron Corp. | Electronic Equipment, Instruments & Components | 43800 | 2126181 |
| Ono Pharmaceutical Co. Ltd. | Pharmaceuticals | 102000 | 2383311 |
| Open House Group Co. Ltd. | Household Durables | 18000 | 657547 |
| Oracle Corp. Japan | Software | 7820 | 504956 |
| Orient Corp. | Consumer Finance | 13200 | 116048 |
| Oriental Land Co. Ltd. | Hotels, Restaurants & Leisure | 44220 | 6421276 |
| ORIX Corp. | Diversified Financial Services | 282000 | 4527773 |
| Orix JREIT Inc. | Equity Real Estate Investment Trusts (REITs) | 660 | 932889 |
| Osaka Gas Co. Ltd. | Gas Utilities | 96000 | 1549737 |
| OSG Corp. | Machinery | 18000 | 247876 |
| Otsuka Corp. | IT Services | 24000 | 755769 |
| Otsuka Holdings Co. Ltd. | Pharmaceuticals | 102000 | 3327978 |
| PALTAC Corp. | Distributors | 6000 | 210770 |
| Pan Pacific International Holdings Corp. | Multiline Retail | 96000 | 1784744 |
| Panasonic Holdings Corp. | Household Durables | 510000 | 4292357 |
| <sup>a</sup> Park24 Co. Ltd. | Commercial Services & Supplies | 30000 | 517261 |
| Penta-Ocean Construction Co. Ltd. | Construction & Engineering | 66000 | 309129 |
| <sup>a</sup> PeptiDream Inc. | Biotechnology | 19700 | 310106 |
| Persol Holdings Co. Ltd. | Professional Services | 42000 | 900193 |
| Pigeon Corp. | Household Products | 24000 | 394346 |
| Pola Orbis Holdings Inc. | Personal Products | 18000 | 253742 |
| Rakus Co. Ltd. | Software | 24000 | 288120 |
| <sup>a</sup> Rakuten Inc. | Internet & Direct Marketing Retail | 192000 | 867270 |
| Recruit Holdings Co. Ltd. | Professional Services | 330000 | 10446853 |
| Relo Group Inc. | Real Estate Management & Development | 24000 | 386343 |
| <sup>a</sup> Renesas Electronics Corp. | Semiconductors & Semiconductor Equipment | 294000 | 2637076 |
| Rengo Co. Ltd. | Containers & Packaging | 48000 | 330319 |
| <sup>a</sup> RENOVA Inc. | Independent Power Producers & Energy Traders | 12000 | 214544 |
| Resona Holdings Inc. | Banks | 522000 | 2861119 |
| Resorttrust Inc. | Hotels, Restaurants & Leisure | 18000 | 320452 |
| Ricoh Co. Ltd. | Technology Hardware, Storage & Peripherals | 138000 | 1053212 |
| Rinnai Corp. | Household Durables | 8000 | 596006 |
| Rohm Co. Ltd. | Semiconductors & Semiconductor Equipment | 19560 | 1412761 |
| Rohto Pharmaceutical Co. Ltd. | Personal Products | 48000 | 843988 |
| Ryohin Keikaku Co. Ltd. | Multiline Retail | 60000 | 712115 |
| Sankyo Co. Ltd. | Leisure Products | 12000 | 489295 |
| Sankyu Inc. | Road & Rail | 12000 | 439274 |
| Sanrio Co. Ltd. | Specialty Retail | 12000 | 434727 |
| Santen Pharmaceutical Co. Ltd. | Pharmaceuticals | 84000 | 683739 |
| Sanwa Holdings Corp. | Building Products | 48000 | 444185 |
| Sapporo Holdings Ltd. | Beverages | 12000 | 298306 |
| Sawai Group Holdings Co. Ltd. | Pharmaceuticals | 12000 | 375156 |
| SBI Holdings Inc. | Capital Markets | 60000 | 1144568 |
| SCREEN Holdings Co. Ltd. | Semiconductors & Semiconductor Equipment | 9700 | 621941 |
| SCSK Corp. | IT Services | 30000 | 454962 |
| Secom Co. Ltd. | Commercial Services & Supplies | 48000 | 2744052 |
| Sega Sammy Holdings Inc. | Leisure Products | 42000 | 635674 |
| Seibu Holdings Inc. | Industrial Conglomerates | 48000 | 524582 |
| Seiko Epson Corp. | Technology Hardware, Storage & Peripherals | 66000 | 963401 |
| Seino Holdings Co. Ltd. | Road & Rail | 36000 | 319770 |
| Sekisui Chemical Co. Ltd. | Household Durables | 84000 | 1174580 |
| Sekisui House Ltd. | Household Durables | 132000 | 2334473 |
| Sekisui House Reit Inc. | Equity Real Estate Investment Trusts (REITs) | 960 | 542772 |
| Seven & i Holdings Co. Ltd. | Food & Staples Retailing | 186000 | 7978779 |
| Seven Bank Ltd. | Banks | 156000 | 309765 |
| SG Holdings Co. Ltd. | Air Freight & Logistics | 102000 | 1414680 |
| Sharp Corp. | Household Durables | 48000 | 343780 |
| <sup>a</sup> SHIFT Inc. | IT Services | 2600 | 459919 |
| Shikoku Electric Power Co. Inc. | Electric Utilities | 36000 | 208723 |
| Shimadzu Corp. | Electronic Equipment, Instruments & Components | 66000 | 1873281 |
| Shimamura Co. Ltd. | Specialty Retail | 6000 | 595703 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; SHIMANO Inc. | Leisure Products | 17988 | 2852014 |
| &nbsp;&nbsp;&nbsp; Shimizu Corp. | Construction & Engineering | 126000 | 672280 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | Chemicals | 92980 | 11433556 |
| &nbsp;&nbsp;&nbsp; Shinko Electric Industries Co. Ltd. | Semiconductors & Semiconductor Equipment | 18000 | 462465 |
| &nbsp;&nbsp;&nbsp; Shinsei Bank Ltd. | Banks | 12000 | 195354 |
| &nbsp;&nbsp;&nbsp; Shionogi & Co. Ltd. | Pharmaceuticals | 66000 | 3294373 |
| &nbsp;&nbsp;&nbsp; Ship Healthcare Holdings Inc. | Health Care Providers & Services | 18000 | 366698 |
| &nbsp;&nbsp;&nbsp; Shiseido Co. Ltd. | Personal Products | 91900 | 4507067 |
| &nbsp;&nbsp;&nbsp; Shizuoka Financial Group Inc. | Banks | 120000 | 959491 |
| &nbsp;&nbsp;&nbsp; SHO-BOND Holdings Co. Ltd. | Construction & Engineering | 12000 | 511122 |
| <sup>a</sup> Shochiku Co. Ltd. | Entertainment | 1820 | 161110 |
| &nbsp;&nbsp;&nbsp; Showa Denko KK | Chemicals | 42000 | 642995 |
| <sup>a</sup> Skylark Holdings Co. Ltd. | Hotels, Restaurants & Leisure | 54000 | 624942 |
| &nbsp;&nbsp;&nbsp; SMC Corp. | Machinery | 13346 | 5621817 |
| &nbsp;&nbsp;&nbsp; SMS Co. Ltd. | Professional Services | 12000 | 305127 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. | Wireless Telecommunication Services | 654000 | 7375437 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. | Wireless Telecommunication Services | 234000 | 10009443 |
| &nbsp;&nbsp;&nbsp; Sohgo Security Services Co. Ltd. | Commercial Services & Supplies | 18000 | 490432 |
| &nbsp;&nbsp;&nbsp; Sojitz Corp. | Trading Companies & Distributors | 56220 | 1070756 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings Inc. | Insurance | 72000 | 3197696 |
| &nbsp;&nbsp;&nbsp; Sony Corp. | Household Durables | 294000 | 22359998 |
| &nbsp;&nbsp;&nbsp; Sotetsu Holdings Inc. | Road & Rail | 18000 | 303399 |
| &nbsp;&nbsp;&nbsp; Square Enix Holdings Co. Ltd. | Entertainment | 18000 | 836258 |
| &nbsp;&nbsp;&nbsp; Stanley Electric Co. Ltd. | Auto Components | 36000 | 690015 |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | Automobiles | 144000 | 2212740 |
| &nbsp;&nbsp;&nbsp; Sugi Pharmacy Co. Ltd. | Food & Staples Retailing | 8120 | 361244 |
| &nbsp;&nbsp;&nbsp; Sumco Corp. | Semiconductors & Semiconductor Equipment | 78000 | 1038660 |
| &nbsp;&nbsp;&nbsp; Sumitomo Bakelite Co. Ltd. | Chemicals | 6000 | 178029 |
| &nbsp;&nbsp;&nbsp; Sumitomo Chemical Co. Ltd. | Chemicals | 360000 | 1293266 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | Trading Companies & Distributors | 270000 | 4493691 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | Auto Components | 180000 | 2052446 |
| &nbsp;&nbsp;&nbsp; Sumitomo Forestry Co. Ltd. | Household Durables | 30000 | 530448 |
| &nbsp;&nbsp;&nbsp; Sumitomo Heavy Industries Ltd. | Machinery | 30000 | 601160 |
| &nbsp;&nbsp;&nbsp; Sumitomo Metal Mining Co. Ltd. | Metals & Mining | 60000 | 2124067 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group Inc. | Banks | 312000 | 12523036 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Holdings Inc. | Banks | 84000 | 2920853 |
| &nbsp;&nbsp;&nbsp; Sumitomo Pharma Co. Ltd. | Pharmaceuticals | 42000 | 317996 |
| &nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co. Ltd. | Real Estate Management & Development | 96000 | 2270764 |
| &nbsp;&nbsp;&nbsp; Sumitomo Rubber Industries Ltd. | Auto Components | 42000 | 366698 |
| &nbsp;&nbsp;&nbsp; Sundrug Co. Ltd. | Food & Staples Retailing | 15640 | 464062 |
| &nbsp;&nbsp;&nbsp; Suntory Beverage & Food Ltd. | Beverages | 30000 | 1023154 |
| &nbsp;&nbsp;&nbsp; Suzuken Co. Ltd. | Health Care Providers & Services | 18000 | 487021 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | Automobiles | 108000 | 3495911 |
| &nbsp;&nbsp;&nbsp; Sysmex Corp. | Health Care Equipment & Supplies | 44740 | 2711967 |
| &nbsp;&nbsp;&nbsp; T&D Holdings Inc. | Insurance | 120000 | 1729812 |
| &nbsp;&nbsp;&nbsp; Taiheiyo Cement Corp. | Construction Materials | 30000 | 467695 |
| &nbsp;&nbsp;&nbsp; Taisei Corp. | Construction & Engineering | 42000 | 1352836 |
| &nbsp;&nbsp;&nbsp; Taisho Pharmaceutical Holdings Co. Ltd. | Pharmaceuticals | 9640 | 423752 |
| &nbsp;&nbsp;&nbsp; Taiyo Yuden Co. Ltd. | Electronic Equipment, Instruments & Components | 30000 | 870817 |
| &nbsp;&nbsp;&nbsp; Takara Bio Inc. | Biotechnology | 12000 | 156702 |
| &nbsp;&nbsp;&nbsp; Takara Holdings Inc. | Beverages | 42000 | 332639 |
| &nbsp;&nbsp;&nbsp; Takashimaya Co. Ltd. | Multiline Retail | 30000 | 419038 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | Pharmaceuticals | 360000 | 11216492 |
| &nbsp;&nbsp;&nbsp; TBS Holdings Inc. | Media | 6000 | 69665 |
| &nbsp;&nbsp;&nbsp; TDK Corp. | Electronic Equipment, Instruments & Components | 86200 | 2832066 |
| &nbsp;&nbsp;&nbsp; TechnoPro Holdings Inc. | Professional Services | 25160 | 672166 |
| &nbsp;&nbsp;&nbsp; Teijin Ltd. | Chemicals | 42000 | 409989 |
| &nbsp;&nbsp;&nbsp; Terumo Corp. | Health Care Equipment & Supplies | 156000 | 4428936 |
| &nbsp;&nbsp;&nbsp; The Bank of Kyoto Ltd. | Banks | 18000 | 799424 |
| &nbsp;&nbsp;&nbsp; The Chiba Bank Ltd. | Banks | 144000 | 1049892 |
| &nbsp;&nbsp;&nbsp; The Chugoku Electric Power Co. Inc. | Electric Utilities | 72000 | 368335 |
| &nbsp;&nbsp;&nbsp; The Japan Steel Works Ltd. | Machinery | 18000 | 355921 |
| &nbsp;&nbsp;&nbsp; The Kansai Electric Power Co. Inc. | Electric Utilities | 174000 | 1686657 |
| &nbsp;&nbsp;&nbsp; THK Co. Ltd. | Machinery | 30000 | 571829 |
| &nbsp;&nbsp;&nbsp; TIS Inc. | IT Services | 54000 | 1424230 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Tobu Railway Co. Ltd. | Road & Rail | 48000 | 1120467 |
| Toda Corp. | Construction & Engineering | 54000 | 290576 |
| Toho Co. Ltd. | Entertainment | 24000 | 924021 |
| Toho Gas Co. Ltd. | Gas Utilities | 19600 | 373892 |
| Tohoku Electric Power Co. Inc. | Electric Utilities | 114000 | 597021 |
| Tokai Carbon Co. Ltd. | Chemicals | 48000 | 390344 |
| Tokio Marine Holdings Inc. | Insurance | 450000 | 9643223 |
| Tokyo Century Corp. | Diversified Financial Services | 14410 | 489271 |
| <sup>a</sup> Tokyo Electric Power Co. Holdings Inc. | Electric Utilities | 372000 | 1342014 |
| Tokyo Electron Ltd. | Semiconductors & Semiconductor Equipment | 35425 | 10438622 |
| Tokyo Gas Co. Ltd. | Gas Utilities | 102000 | 1998333 |
| Tokyo Ohka Kogyo Co. Ltd. | Chemicals | 8600 | 390420 |
| Tokyo Tatemono Co. Ltd. | Real Estate Management & Development | 48000 | 581697 |
| Tokyu Corp. | Road & Rail | 120000 | 1512448 |
| Tokyu Fudosan Holdings Corp. | Real Estate Management & Development | 144000 | 685376 |
| TOPPAN Inc. | Commercial Services & Supplies | 66000 | 977407 |
| Toray Industries Inc. | Chemicals | 366000 | 2043242 |
| Toshiba Corp. | Industrial Conglomerates | 102000 | 3558346 |
| Toshiba TEC Corp. | Technology Hardware, Storage & Peripherals | 6000 | 163932 |
| Tosoh Corp. | Chemicals | 66000 | 785327 |
| TOTO Ltd. | Building Products | 36000 | 1227784 |
| Toyo Seikan Group Holdings Ltd. | Containers & Packaging | 36000 | 442548 |
| Toyo Suisan Kaisha Ltd. | Food Products | 24000 | 927659 |
| Toyo Tire Corp. | Auto Components | 24000 | 272295 |
| Toyoda Gosei Co. Ltd. | Auto Components | 18000 | 280071 |
| Toyota Boshoku Corp. | Auto Components | 12000 | 160612 |
| Toyota Industries Corp. | Auto Components | 36000 | 1975369 |
| Toyota Motor Corp. | Automobiles | 2910000 | 39974042 |
| Toyota Tsusho Corp. | Trading Companies & Distributors | 54000 | 1999242 |
| <sup>a</sup> Trend Micro Inc. | Software | 30000 | 1396036 |
| TS TECH Co. Ltd. | Auto Components | 24000 | 275569 |
| Tsumura & Co. | Pharmaceuticals | 18000 | 395347 |
| Tsuruha Holdings Inc. | Food & Staples Retailing | 8250 | 637766 |
| Ube Industries Ltd | Chemicals | 24000 | 352511 |
| Ulvac Inc. | Semiconductors & Semiconductor Equipment | 12000 | 505665 |
| Unicharm Corp. | Household Products | 96000 | 3687355 |
| United Urban Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 720 | 821797 |
| Ushio Inc. | Electrical Equipment | 30000 | 369927 |
| USS Co. Ltd. | Specialty Retail | 48000 | 762136 |
| Welcia Holdings Co. Ltd. | Food & Staples Retailing | 24000 | 559324 |
| West Japan Railway Co. | Road & Rail | 54000 | 2344659 |
| Yakult Honsha Co. Ltd. | Food Products | 30000 | 1946265 |
| Yamada Holdings Co. Ltd. | Specialty Retail | 156000 | 552139 |
| Yamaguchi Financial Group Inc. | Banks | 48000 | 313221 |
| Yamaha Corp. | Leisure Products | 36000 | 1342377 |
| Yamaha Motor Co. Ltd. | Automobiles | 72000 | 1642503 |
| Yamato Holdings Co. Ltd. | Air Freight & Logistics | 78000 | 1233741 |
| Yamato Kogyo Co. Ltd. | Metals & Mining | 6000 | 204858 |
| Yamazaki Baking Co. Ltd. | Food Products | 30000 | 357876 |
| Yaoko Co. Ltd. | Food & Staples Retailing | 6000 | 308310 |
| YASKAWA Electric Corp. | Machinery | 60000 | 1921255 |
| Yokogawa Electric Corp. | Electronic Equipment, Instruments & Components | 60000 | 957217 |
| Yokohama Rubber Co. Ltd. | Auto Components | 30000 | 467922 |
| Z Holdings Corp. | Interactive Media & Services | 630000 | 1585206 |
| Zenkoku Hosho Co. Ltd. | Diversified Financial Services | 12000 | 459282 |
| Zensho Holdings Co. Ltd. | Hotels, Restaurants & Leisure | 24000 | 602069 |
| Zeon Corp. | Chemicals | 36000 | 364516 |
| Zozo Inc. | Internet & Direct Marketing Retail | 24000 | 592974 |
| **Total Investments before Short-Term** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Investments (Cost $1,012,613,050)** |  |  | 868422565 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 0.0%<sup>†</sup>** |  |  |
| **Money Market Funds 0.0%<sup>†</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;**United States 0.0%<sup>†</sup>** |  |  |
| <sup>b,c</sup> Institutional Fiduciary Trust Portfolio, 3.84% | Money Market Funds | 207041 |
| **Total Short-Term Investments** |  |  |
| **(Cost $207,041)** |  | 207041 |
| **Total Investments (Cost $1,012,820,091)** |  |  |
| **99.7%** |  | 868629606 |
| **Other Assets, less Liabilities 0.3%** |  | 2557019 |
| **Net Assets 100.0%** |  | $871186625 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |
| <sup>a</sup>Non-income producing. |  |  |
| <sup>b</sup>See Note 3 regarding investments in affiliated management investment companies. |  |  |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nikkei 225 Mini | Long | 12 | $2371897 | 3/09/23 | $(85359) |
| \*As of period end. |  |  |  |  |  |

---

**Abbreviations**<br>**Selected Portfolio**<br>**REIT** – Real Estate Investment Trust

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**Franklin FTSE Japan Hedged ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;**Common Stocks 100.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Japan 100.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;ABC-Mart Inc. | Specialty Retail | 195 | $11040 |
| &nbsp;&nbsp;&nbsp;Acom Co. Ltd. | Consumer Finance | 2675 | 6406 |
| &nbsp;&nbsp;&nbsp;Activia Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 5 | 15650 |
| &nbsp;&nbsp;&nbsp;Advance Residence Investment | Equity Real Estate Investment Trusts (REITs) | 9 | 23123 |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | Semiconductors & Semiconductor Equipment | 1250 | 80337 |
| &nbsp;&nbsp;&nbsp;AEON Co. Ltd. | Food & Staples Retailing | 4750 | 100188 |
| &nbsp;&nbsp;&nbsp;AEON Financial Service Co. Ltd. | Consumer Finance | 825 | 8754 |
| &nbsp;&nbsp;&nbsp;AEON Mall Co. Ltd. | Real Estate Management & Development | 800 | 10338 |
| &nbsp;&nbsp;&nbsp;AEON REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 12 | 14051 |
| &nbsp;&nbsp;&nbsp;AGC Inc. | Building Products | 1270 | 42303 |
| &nbsp;&nbsp;&nbsp;Aica Kogyo Co. Ltd. | Building Products | 365 | 8659 |
| &nbsp;&nbsp;&nbsp;AIN Holdings Inc. | Food & Staples Retailing | 195 | 8926 |
| &nbsp;&nbsp;&nbsp;Air Water Inc. | Chemicals | 1225 | 14251 |
| &nbsp;&nbsp;&nbsp;Aisin Corp. | Auto Components | 1170 | 31302 |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co. Inc. | Food Products | 3285 | 100359 |
| &nbsp;&nbsp;&nbsp;Alfresa Holdings Corp. | Health Care Providers & Services | 1175 | 14925 |
| &nbsp;&nbsp;&nbsp;Alps Alpine Co. Ltd. | Electronic Equipment, Instruments & Components | 1440 | 13064 |
| &nbsp;&nbsp;&nbsp;Amada Co. Ltd. | Machinery | 2225 | 17436 |
| &nbsp;&nbsp;&nbsp;Amano Corp. | Electronic Equipment, Instruments & Components | 500 | 9220 |
| <sup>a</sup> ANA Holdings Inc. | Airlines | 1075 | 22813 |
| &nbsp;&nbsp;&nbsp;Anritsu Corp. | Electronic Equipment, Instruments & Components | 941 | 9143 |
| &nbsp;&nbsp;&nbsp;Aozora Bank Ltd. | Banks | 800 | 15734 |
| &nbsp;&nbsp;&nbsp;Ariake Japan Co. Ltd. | Food Products | 120 | 3970 |
| &nbsp;&nbsp;&nbsp;AS One Corp. | Health Care Providers & Services | 185 | 8076 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings Ltd. | Beverages | 3340 | 104267 |
| &nbsp;&nbsp;&nbsp;Asahi Intecc Co. Ltd. | Health Care Equipment & Supplies | 1300 | 21321 |
| &nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | Chemicals | 8375 | 59754 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | Textiles, Apparel & Luxury Goods | 1200 | 26502 |
| &nbsp;&nbsp;&nbsp;ASKUL Corp. | Internet & Direct Marketing Retail | 240 | 3109 |
| &nbsp;&nbsp;&nbsp;Astellas Pharma Inc. | Pharmaceuticals | 12425 | 188948 |
| &nbsp;&nbsp;&nbsp;Azbil Corp. | Electronic Equipment, Instruments & Components | 890 | 22428 |
| &nbsp;&nbsp;&nbsp;AZ-COM MARUWA Holdings Inc. | Air Freight & Logistics | 250 | 2984 |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings Inc. | Leisure Products | 1288 | 81158 |
| &nbsp;&nbsp;&nbsp;BayCurrent Consulting Inc. | Professional Services | 920 | 28692 |
| &nbsp;&nbsp;&nbsp;Benefit One Inc. | Professional Services | 465 | 6812 |
| &nbsp;&nbsp;&nbsp;Benesse Holdings Inc. | Diversified Consumer Services | 525 | 7982 |
| &nbsp;&nbsp;&nbsp;BIC Camera Inc. | Specialty Retail | 850 | 8259 |
| &nbsp;&nbsp;&nbsp;BIPROGY Inc. | IT Services | 415 | 10521 |
| &nbsp;&nbsp;&nbsp;Bridgestone Corp. | Auto Components | 3805 | 135278 |
| &nbsp;&nbsp;&nbsp;Brother Industries Ltd. | Technology Hardware, Storage & Peripherals | 1500 | 22816 |
| &nbsp;&nbsp;&nbsp;Calbee Inc. | Food Products | 425 | 9637 |
| &nbsp;&nbsp;&nbsp;CANON Inc. | Technology Hardware, Storage & Peripherals | 6525 | 141211 |
| &nbsp;&nbsp;&nbsp;Canon Marketing Japan Inc. | Electronic Equipment, Instruments & Components | 265 | 6003 |
| &nbsp;&nbsp;&nbsp;Capcom Co. Ltd. | Entertainment | 1160 | 37012 |
| &nbsp;&nbsp;&nbsp;Casio Computer Co. Ltd. | Household Durables | 1475 | 15013 |
| &nbsp;&nbsp;&nbsp;Central Japan Railway Co. | Road & Rail | 1212 | 148853 |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power Co. Inc. | Electric Utilities | 4765 | 49187 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co. Ltd. | Pharmaceuticals | 4440 | 113335 |
| &nbsp;&nbsp;&nbsp;Chugin Financial Group Inc. | Banks | 1050 | 7608 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Bottlers Japan Holdings Inc. | Beverages | 925 | 10074 |
| &nbsp;&nbsp;&nbsp;COMSYS Holdings Corp. | Construction & Engineering | 720 | 12633 |
| &nbsp;&nbsp;&nbsp;Concordia Financial Group Ltd. | Banks | 7375 | 30742 |
| &nbsp;&nbsp;&nbsp;Cosmo Energy Holdings Co. Ltd. | Oil, Gas & Consumable Fuels | 450 | 11903 |
| &nbsp;&nbsp;&nbsp;Cosmos Pharmaceutical Corp. | Food & Staples Retailing | 121 | 12233 |
| &nbsp;&nbsp;&nbsp;Credit Saison Co. Ltd. | Consumer Finance | 1050 | 13536 |
| &nbsp;&nbsp;&nbsp;CyberAgent Inc. | Media | 2805 | 24830 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing Co. Ltd. | Commercial Services & Supplies | 1740 | 34946 |
| &nbsp;&nbsp;&nbsp;Daicel Corp. | Chemicals | 1650 | 11942 |
| &nbsp;&nbsp;&nbsp;Daido Steel Co. Ltd. | Metals & Mining | 235 | 7685 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. | Machinery | 676 | 31662 |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings Inc. | Insurance | 6625 | 150330 |
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co. Ltd. | Pharmaceuticals | 12725 | 409877 |
| &nbsp;&nbsp;&nbsp; Daiichikosho Co. Ltd. | Entertainment | 225 | 6787 |
| &nbsp;&nbsp;&nbsp; Daikin Industries Ltd. | Building Products | 1785 | 273273 |
| &nbsp;&nbsp;&nbsp; Daio Paper Corp. | Paper & Forest Products | 625 | 4794 |
| &nbsp;&nbsp;&nbsp; Daito Trust Construction Co. Ltd. | Real Estate Management & Development | 400 | 41047 |
| &nbsp;&nbsp;&nbsp; Daiwa House Industry Co. Ltd. | Real Estate Management & Development | 4390 | 101112 |
| &nbsp;&nbsp;&nbsp; Daiwa House REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 14 | 31131 |
| &nbsp;&nbsp;&nbsp; Daiwa Office Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 2 | 9701 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group Inc. | Capital Markets | 9775 | 43191 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Living Investments Corp. | Equity Real Estate Investment Trusts (REITs) | 15 | 13062 |
| &nbsp;&nbsp;&nbsp; DeNA Co. Ltd. | Entertainment | 595 | 7964 |
| &nbsp;&nbsp;&nbsp; Denka Co. Ltd. | Chemicals | 530 | 12151 |
| &nbsp;&nbsp;&nbsp; Denso Corp. | Auto Components | 3000 | 148607 |
| &nbsp;&nbsp;&nbsp; Dentsu Group Inc. | Media | 1375 | 43195 |
| &nbsp;&nbsp;&nbsp; Descente Ltd. | Textiles, Apparel & Luxury Goods | 275 | 6732 |
| &nbsp;&nbsp;&nbsp; DIC Corp. | Chemicals | 550 | 9696 |
| &nbsp;&nbsp;&nbsp; Disco Corp. | Semiconductors & Semiconductor Equipment | 202 | 57793 |
| &nbsp;&nbsp;&nbsp; DMG Mori Co. Ltd. | Machinery | 720 | 9577 |
| &nbsp;&nbsp;&nbsp; Dowa Holdings Co. Ltd. | Metals & Mining | 265 | 8335 |
| &nbsp;&nbsp;&nbsp; East Japan Railway Co. | Road & Rail | 2425 | 138209 |
| &nbsp;&nbsp;&nbsp; EBARA Corp. | Machinery | 550 | 19675 |
| &nbsp;&nbsp;&nbsp; Eisai Co. Ltd. | Pharmaceuticals | 1825 | 120390 |
| &nbsp;&nbsp;&nbsp; Electric Power Development Co. Ltd. | Independent Power Producers & Energy Traders | 1100 | 17474 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings Inc. | Oil, Gas & Consumable Fuels | 19225 | 65276 |
| &nbsp;&nbsp;&nbsp; EXEO Group Inc. | Construction & Engineering | 695 | 11841 |
| &nbsp;&nbsp;&nbsp; Ezaki Glico Co. Ltd. | Food Products | 365 | 10014 |
| &nbsp;&nbsp;&nbsp; Fancl Corp. | Personal Products | 440 | 8964 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | Machinery | 1300 | 195426 |
| &nbsp;&nbsp;&nbsp; Fast Retailing Co. Ltd. | Specialty Retail | 349 | 213005 |
| &nbsp;&nbsp;&nbsp; Food & Life Companies Ltd. | Hotels, Restaurants & Leisure | 625 | 12306 |
| &nbsp;&nbsp;&nbsp; FP Corp. | Containers & Packaging | 265 | 7612 |
| &nbsp;&nbsp;&nbsp; Frontier Real Estate Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 3 | 11641 |
| &nbsp;&nbsp;&nbsp; Fuji Electric Co. Ltd. | Electrical Equipment | 790 | 30116 |
| &nbsp;&nbsp;&nbsp; Fuji Kyuko Co. Ltd. | Hotels, Restaurants & Leisure | 150 | 5434 |
| &nbsp;&nbsp;&nbsp; Fuji Media Holdings Inc. | Media | 340 | 2768 |
| &nbsp;&nbsp;&nbsp; Fuji Oil Holdings Inc. | Food Products | 340 | 5252 |
| &nbsp;&nbsp;&nbsp; FUJIFILM Holdings Corp. | Technology Hardware, Storage & Peripherals | 2395 | 120254 |
| &nbsp;&nbsp;&nbsp; Fujitsu General Ltd. | Household Durables | 365 | 8755 |
| &nbsp;&nbsp;&nbsp; Fujitsu Ltd. | IT Services | 1255 | 167546 |
| &nbsp;&nbsp;&nbsp; Fukuoka Financial Group Inc. | Banks | 1075 | 24483 |
| &nbsp;&nbsp;&nbsp; Furukawa Electric Co. Ltd. | Electrical Equipment | 415 | 7781 |
| &nbsp;&nbsp;&nbsp; Fuyo General Lease Co. Ltd. | Diversified Financial Services | 150 | 9800 |
| &nbsp;&nbsp;&nbsp; GLP J-Reit | Equity Real Estate Investment Trusts (REITs) | 30 | 34401 |
| &nbsp;&nbsp;&nbsp; GMO internet Inc. | IT Services | 400 | 7476 |
| &nbsp;&nbsp;&nbsp; GMO Payment Gateway Inc. | IT Services | 325 | 26898 |
| &nbsp;&nbsp;&nbsp; Goldwin Inc. | Textiles, Apparel & Luxury Goods | 245 | 17733 |
| &nbsp;&nbsp;&nbsp; GS Yuasa Corp. | Electrical Equipment | 525 | 8435 |
| &nbsp;&nbsp; <sup>a</sup> GungHo Online Entertainment Inc. | Entertainment | 250 | 4040 |
| &nbsp;&nbsp;&nbsp; H.U. Group Holdings Inc. | Health Care Providers & Services | 365 | 7970 |
| &nbsp;&nbsp;&nbsp; Hachijuni Bank Ltd. | Banks | 2875 | 11962 |
| &nbsp;&nbsp;&nbsp; Hakuhodo DY Holdings Inc. | Media | 1550 | 15624 |
| &nbsp;&nbsp;&nbsp; Hamamatsu Photonics K.K. | Electronic Equipment, Instruments & Components | 890 | 42630 |
| &nbsp;&nbsp;&nbsp; Hankyu Hanshin Holdings Inc. | Road & Rail | 1475 | 43821 |
| &nbsp;&nbsp;&nbsp; Haseko Corp. | Household Durables | 1750 | 19537 |
| &nbsp;&nbsp;&nbsp; Heiwa Corp. | Leisure Products | 365 | 6874 |
| &nbsp;&nbsp;&nbsp; Hikari Tsushin Inc. | Specialty Retail | 165 | 23285 |
| <sup>a</sup> Hino Motors Ltd. | Machinery | 1950 | 7434 |
| &nbsp;&nbsp;&nbsp; Hirogin Holdings Inc. | Banks | 2050 | 10270 |
| &nbsp;&nbsp;&nbsp; Hirose Electric Co. Ltd. | Electronic Equipment, Instruments & Components | 202 | 25414 |
| &nbsp;&nbsp;&nbsp; Hisamitsu Pharmaceutical Co. Inc. | Pharmaceuticals | 425 | 12643 |
| &nbsp;&nbsp;&nbsp; Hitachi Construction Machinery Co. Ltd. | Machinery | 720 | 16147 |
| &nbsp;&nbsp;&nbsp; Hitachi Ltd. | Industrial Conglomerates | 6125 | 310602 |
| &nbsp;&nbsp;&nbsp; Honda Motor Co. Ltd. | Automobiles | 11500 | 264262 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| HORIBA Ltd. | Electronic Equipment, Instruments & Components | 275.0 | 11942.0 |
| Hoshizaki Corp. | Machinery | 755.0 | 26636.0 |
| House Foods Group Inc. | Food Products | 425.0 | 8948.0 |
| Hoya Corp. | Health Care Equipment & Supplies | 2325.0 | 223875.0 |
| Hulic Co. Ltd. | Real Estate Management & Development | 2800.0 | 22070.0 |
| Ibiden Co. Ltd. | Electronic Equipment, Instruments & Components | 720.0 | 26111.0 |
| Idemitsu Kosan Co. Ltd. | Oil, Gas & Consumable Fuels | 1610.0 | 37460.0 |
| IHI Corp. | Machinery | 890.0 | 25935.0 |
| Iida Group Holdings Co. Ltd. | Household Durables | 975.0 | 14786.0 |
| Industrial & Infrastructure Fund Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 13.0 | 14956.0 |
| Information Services International-Dentsu Ltd. | IT Services | 150.0 | 4462.0 |
| INFRONEER Holdings Inc. | Construction & Engineering | 1590.0 | 12063.0 |
| Inpex Corp. | Oil, Gas & Consumable Fuels | 6450.0 | 68242.0 |
| Internet Initiative Japan Inc. | Diversified Telecommunication Services | 700.0 | 12998.0 |
| Isetan Mitsukoshi Holdings Ltd. | Multiline Retail | 2325.0 | 25321.0 |
| Isuzu Motors Ltd. | Automobiles | 3500.0 | 41036.0 |
| Ito En Ltd. | Beverages | 365.0 | 13251.0 |
| ITOCHU Corp. | Trading Companies & Distributors | 9065.0 | 284842.0 |
| Itochu Techno-Solutions Corp. | IT Services | 675.0 | 15705.0 |
| Itoham Yonekyu Holdings Inc. | Food Products | 975.0 | 5180.0 |
| Iwatani Corp. | Oil, Gas & Consumable Fuels | 300.0 | 13165.0 |
| Iyogin Holdings Inc. | Banks | 1775.0 | 9619.0 |
| Izumi Co. Ltd. | Multiline Retail | 285.0 | 6454.0 |
| J Front Retailing Co. Ltd. | Multiline Retail | 1725.0 | 15701.0 |
| <sup>a</sup> Japan Airlines Co. Ltd. | Airlines | 950.0 | 19404.0 |
| <sup>a</sup> Japan Airport Terminal Co. Ltd. | Transportation Infrastructure | 375.0 | 18559.0 |
| Japan Aviatn Elect | Electronic Equipment, Instruments & Components | 340.0 | 5435.0 |
| Japan Exchange Group Inc. | Capital Markets | 3615.0 | 51987.0 |
| Japan Hotel REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 32.0 | 18796.0 |
| Japan Logistics Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 6.0 | 14256.0 |
| Japan Metropolitan Fund Invest | Equity Real Estate Investment Trusts (REITs) | 47.0 | 37295.0 |
| Japan Post Bank Co. Ltd. | Banks | 2900.0 | 24792.0 |
| Japan Post Holdings Co. Ltd. | Insurance | 14400.0 | 121087.0 |
| Japan Post Insurance Co. Ltd. | Insurance | 1270.0 | 22340.0 |
| Japan Prime Realty Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 6.0 | 16848.0 |
| Japan Real Estate Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 9.0 | 39357.0 |
| Japan Tobacco Inc. | Tobacco | 8000.0 | 161340.0 |
| JCR Pharmaceuticals Co. Ltd. | Pharmaceuticals | 400.0 | 5096.0 |
| Jeol Ltd. | Health Care Equipment & Supplies | 275.0 | 7482.0 |
| JFE Holdings Inc. | Metals & Mining | 3525.0 | 41035.0 |
| JGC Holdings Corp. | Construction & Engineering | 1500.0 | 19076.0 |
| JMDC Inc. | Health Care Technology | 225.0 | 6446.0 |
| JSR Corp. | Chemicals | 1145.0 | 22458.0 |
| JTEKT Corp. | Auto Components | 1600.0 | 11265.0 |
| Justsystems Corp. | Software | 250.0 | 5337.0 |
| Kadokawa Corp. | Media | 650.0 | 11823.0 |
| Kagome Co. Ltd. | Food Products | 525.0 | 12156.0 |
| Kajima Corp. | Construction & Engineering | 3075.0 | 35797.0 |
| Kakaku.com Inc. | Interactive Media & Services | 890.0 | 14246.0 |
| Kaken Pharmaceutical Co. Ltd. | Pharmaceuticals | 225.0 | 6633.0 |
| Kamigumi Co. Ltd. | Transportation Infrastructure | 595.0 | 12117.0 |
| Kandenko Co. Ltd. | Construction & Engineering | 650.0 | 4242.0 |
| Kaneka Corp. | Chemicals | 390.0 | 9725.0 |
| Kansai Paint Co. Ltd. | Chemicals | 1210.0 | 14847.0 |
| Kao Corp. | Personal Products | 3130.0 | 124659.0 |
| Katitas Co. Ltd. | Real Estate Management & Development | 275.0 | 6294.0 |
| Kawasaki Heavy Industries Ltd. | Machinery | 950.0 | 22248.0 |
| Kawasaki Kisen Kaisha Ltd. | Marine | 1625.0 | 34324.0 |
| KDDI Corp. | Wireless Telecommunication Services | 10960.0 | 330764.0 |
| Keihan Holdings Co. Ltd. | Industrial Conglomerates | 665.0 | 17388.0 |
| Keikyu Corp. | Road & Rail | 1725.0 | 18185.0 |
| Keio Corp. | Road & Rail | 800.0 | 29346.0 |
| Keisei Electric Railway Co. Ltd. | Road & Rail | 955.0 | 27178.0 |
| Kenedix Office Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 5.0 | 12126.0 |
| Kewpie Corp. | Food Products | 720.0 | 13042.0 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | Electronic Equipment, Instruments & Components | 1323 | 515583 |
| &nbsp;&nbsp;&nbsp; Kikkoman Corp. | Food Products | 1270 | 66799 |
| &nbsp;&nbsp;&nbsp; Kinden Corp. | Construction & Engineering | 890 | 9700 |
| &nbsp;&nbsp;&nbsp; Kintetsu Group Holdings Co. Ltd. | Road & Rail | 1220 | 40268 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co. Ltd. | Beverages | 5125 | 78111 |
| &nbsp;&nbsp;&nbsp; Kobayashi Pharmaceutical Co. Ltd. | Personal Products | 430 | 29428 |
| &nbsp;&nbsp;&nbsp; Kobe Bussan Co. Ltd. | Food & Staples Retailing | 950 | 27288 |
| &nbsp;&nbsp;&nbsp; Kobe Steel Ltd. | Metals & Mining | 2400 | 11678 |
| &nbsp;&nbsp;&nbsp; Koei Tecmo Holdings Co. Ltd. | Entertainment | 942 | 17077 |
| &nbsp;&nbsp;&nbsp; Koito Manufacturing Co. Ltd. | Auto Components | 1592 | 23974 |
| &nbsp;&nbsp;&nbsp; Kokuyo Co. Ltd. | Commercial Services & Supplies | 625 | 8801 |
| &nbsp;&nbsp;&nbsp; Komatsu Ltd. | Machinery | 6245 | 136122 |
| &nbsp;&nbsp;&nbsp; Konami Holdings Corp. | Entertainment | 645 | 29184 |
| &nbsp;&nbsp;&nbsp; Konica Minolta Inc. | Technology Hardware, Storage & Peripherals | 3225 | 12881 |
| &nbsp;&nbsp;&nbsp; Kose Corp. | Personal Products | 220 | 24043 |
| &nbsp;&nbsp;&nbsp; Kotobuki Spirits Co. Ltd. | Food Products | 125 | 7323 |
| &nbsp;&nbsp;&nbsp; K's Holdings Corp. | Specialty Retail | 1075 | 9190 |
| &nbsp;&nbsp;&nbsp; Kubota Corp. | Machinery | 7300 | 100527 |
| &nbsp;&nbsp;&nbsp; Kuraray Co. Ltd. | Chemicals | 2400 | 19244 |
| &nbsp;&nbsp;&nbsp; Kurita Water Industries Ltd. | Machinery | 745 | 30829 |
| &nbsp;&nbsp;&nbsp; Kusuri no Aoki Holdings Co. Ltd. | Food & Staples Retailing | 100 | 5821 |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. | Electronic Equipment, Instruments & Components | 2040 | 101300 |
| &nbsp;&nbsp;&nbsp; Kyowa Kirin Co. Ltd. | Pharmaceuticals | 1725 | 39482 |
| &nbsp;&nbsp;&nbsp; Kyudenko Corp. | Construction & Engineering | 250 | 6186 |
| &nbsp;&nbsp;&nbsp; Kyushu Electric Power Co. Inc. | Electric Utilities | 3100 | 17480 |
| &nbsp;&nbsp;&nbsp; Kyushu Financial Group Inc. | Banks | 2675 | 9204 |
| &nbsp;&nbsp;&nbsp; Kyushu Railway Co. | Road & Rail | 1075 | 23807 |
| &nbsp;&nbsp;&nbsp; LaSalle Logiport REIT | Equity Real Estate Investment Trusts (REITs) | 13 | 15774 |
| &nbsp;&nbsp;&nbsp; Lasertec Corp. | Semiconductors & Semiconductor Equipment | 530 | 87346 |
| &nbsp;&nbsp;&nbsp; Lawson Inc. | Food & Staples Retailing | 340 | 12961 |
| &nbsp;&nbsp;&nbsp; LINTEC Corp. | Chemicals | 340 | 5532 |
| &nbsp;&nbsp;&nbsp; Lion Corp. | Household Products | 1725 | 19793 |
| &nbsp;&nbsp;&nbsp; Lixil Corp. | Building Products | 1820 | 27601 |
| &nbsp;&nbsp;&nbsp; M3 Inc. | Health Care Technology | 2875 | 77962 |
| &nbsp;&nbsp;&nbsp; Mabuchi Motor Co. Ltd. | Electrical Equipment | 365 | 10332 |
| &nbsp;&nbsp;&nbsp; Makita Corp. | Machinery | 1660 | 38749 |
| &nbsp;&nbsp;&nbsp; Mani Inc. | Health Care Equipment & Supplies | 400 | 6154 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | Trading Companies & Distributors | 10525 | 120849 |
| &nbsp;&nbsp;&nbsp; Marui Group Co. Ltd. | Multiline Retail | 1315 | 21736 |
| &nbsp;&nbsp;&nbsp; Maruichi Steel Tube Ltd. | Metals & Mining | 415 | 8502 |
| &nbsp;&nbsp;&nbsp; Matsui Securities Co. Ltd. | Capital Markets | 750 | 4462 |
| &nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | Food & Staples Retailing | 825 | 41267 |
| &nbsp;&nbsp;&nbsp; Mazda Motor Corp. | Automobiles | 3875 | 29515 |
| &nbsp;&nbsp;&nbsp; Mebuki Financial Group Inc. | Banks | 7300 | 18479 |
| &nbsp;&nbsp;&nbsp; Medipal Holdings Corp. | Health Care Providers & Services | 975 | 12865 |
| &nbsp;&nbsp;&nbsp; MEIJI Holdings Co. Ltd. | Food Products | 816 | 41683 |
| &nbsp;&nbsp;&nbsp; Menicon Co. Ltd. | Health Care Equipment & Supplies | 325 | 6843 |
| &nbsp;&nbsp;&nbsp; Minebea Mitsumi Inc. | Machinery | 2845 | 42499 |
| &nbsp;&nbsp;&nbsp; MISUMI Group Inc. | Machinery | 1875 | 40912 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | Chemicals | 8650 | 44887 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Corp. | Trading Companies & Distributors | 8066 | 261826 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corp. | Electrical Equipment | 13225 | 131654 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Co. Ltd. | Real Estate Management & Development | 7601 | 98566 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Gas Chemical Co. Inc. | Chemicals | 1245 | 17201 |
| &nbsp;&nbsp;&nbsp; Mitsubishi HC Capital Inc. | Diversified Financial Services | 4536 | 22311 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries Ltd. | Machinery | 1900 | 75369 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Logistics Corp. | Transportation Infrastructure | 430 | 9875 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Materials Corp. | Metals & Mining | 815 | 12872 |
| <sup>a</sup> Mitsubishi Motors Corp. | Automobiles | 4150 | 16041 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Lease & finance Co. Ltd. | Banks | 80000 | 539012 |
| &nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | Trading Companies & Distributors | 10250 | 299316 |
| &nbsp;&nbsp;&nbsp; Mitsui Chemicals Inc. | Chemicals | 1145 | 25817 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Co. Ltd. | Real Estate Management & Development | 6200 | 113573 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Logistics Park Inc. | Equity Real Estate Investment Trusts (REITs) | 3 | 10936 |
| &nbsp;&nbsp;&nbsp; Mitsui High-Tec Inc. | Semiconductors & Semiconductor Equipment | 175 | 8130 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Mitsui Mining & Smelting Co. Ltd. | Metals & Mining | 365 | 8534 |
| Mitsui OSK Lines Ltd. | Marine | 2285 | 56976 |
| Miura Co. Ltd. | Machinery | 650 | 14976 |
| Mizuho Financial Group Inc. | Banks | 17275 | 242998 |
| <sup>a</sup> Money Forward Inc. | Software | 275 | 8483 |
| MonotaRO Co. Ltd. | Trading Companies & Distributors | 1625 | 22870 |
| Mori Hills REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 11 | 13122 |
| Morinaga & Co. Ltd. | Food Products | 180 | 5355 |
| Morinaga Milk Industry Co. Ltd. | Food Products | 185 | 7003 |
| MS&AD Insurance Group Holdings Inc. | Insurance | 3090 | 98921 |
| Murata Manufacturing Co. Ltd. | Electronic Equipment, Instruments & Components | 3840 | 191731 |
| Nabtesco Corp. | Machinery | 770 | 19637 |
| Nagase & Co. Ltd. | Trading Companies & Distributors | 675 | 10242 |
| Nagoya Railroad Co. Ltd. | Road & Rail | 1345 | 22212 |
| Nankai Electric Railway Co. Ltd. | Road & Rail | 720 | 15557 |
| NEC Corp. | IT Services | 1725 | 60596 |
| NEC Networks & System Integration Corp. | IT Services | 450 | 5634 |
| NET One Systems Co. Ltd. | IT Services | 550 | 14298 |
| Nexon Co. Ltd. | Entertainment | 2665 | 59826 |
| NGK Insulators Ltd. | Machinery | 1775 | 22573 |
| NGK Spark Plug Co. Ltd. | Auto Components | 1350 | 24955 |
| NH Foods Ltd. | Food Products | 620 | 17269 |
| NHK Spring Co. Ltd. | Auto Components | 1075 | 6893 |
| Nichirei Corp. | Food Products | 720 | 15699 |
| Nidec Corp. | Electrical Equipment | 3111 | 161250 |
| Nifco Inc. | Auto Components | 550 | 12922 |
| Nihon Kohden Corp. | Health Care Equipment & Supplies | 525 | 12752 |
| Nihon M&A Center Holdings Inc. | Professional Services | 1805 | 22285 |
| Nikon Corp. | Household Durables | 2250 | 20054 |
| Nintendo Co. Ltd. | Entertainment | 7087 | 297134 |
| Nippon Accommodations Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 3 | 13710 |
| Nippon Building Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 10 | 44564 |
| Nippon Electric Glass Co. Ltd. | Electronic Equipment, Instruments & Components | 525 | 9327 |
| Nippon Express Co. Ltd. | Road & Rail | 425 | 24287 |
| Nippon Kayaku Co. Ltd. | Chemicals | 1175 | 10152 |
| Nippon Paint Holdings Co. Ltd. | Chemicals | 6840 | 53862 |
| Nippon Prologis REIT Inc. | Equity Real Estate Investment Trusts (REITs) | 16 | 37410 |
| Nippon Sanso Holdings Corp. | Chemicals | 980 | 14231 |
| Nippon Shinyaku Co. Ltd. | Pharmaceuticals | 320 | 18141 |
| Nippon Shokubai Co. Ltd. | Chemicals | 220 | 8804 |
| Nippon Steel Corp. | Metals & Mining | 5525 | 95974 |
| Nippon Telegraph & Telephone Corp. | Diversified Telecommunication Services | 7800 | 222393 |
| Nippon Television Holdings Inc. | Media | 225 | 1777 |
| Nippon Yusen KK | Marine | 3250 | 76604 |
| Nipro Corp. | Health Care Equipment & Supplies | 875 | 6857 |
| Nishi-Nippon Railroad Co. Ltd. | Road & Rail | 525 | 9832 |
| Nissan Chemical Corp. | Chemicals | 840 | 36797 |
| Nissan Motor Co. Ltd. | Automobiles | 13100 | 41511 |
| Nisshin Seifun Group Inc. | Food Products | 1825 | 22864 |
| Nissin Foods Holdings Co. Ltd. | Food Products | 465 | 36722 |
| Nitori Holdings Co. Ltd. | Specialty Retail | 526 | 67970 |
| Nitto Denko Corp. | Chemicals | 950 | 55080 |
| Noevir Holdings Co. Ltd. | Personal Products | 115 | 5046 |
| NOF Corp. | Chemicals | 425 | 17007 |
| NOK Corp. | Auto Components | 790 | 7029 |
| Nomura Holdings Inc. | Capital Markets | 20375 | 75450 |
| Nomura Real Estate Holdings Inc. | Real Estate Management & Development | 800 | 17159 |
| Nomura Real Estate Master Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 30 | 37061 |
| Nomura Research Institute Ltd. | IT Services | 2825 | 66694 |
| NS Solutions Corp. | IT Services | 195 | 4729 |
| NSK Ltd. | Machinery | 2975 | 15806 |
| NTT Data Corp. | IT Services | 4225 | 61864 |
| Obayashi Corp. | Construction & Engineering | 4575 | 34604 |
| OBIC Business Consultants Co. Ltd. | Software | 130 | 4232 |
| OBIC Co. Ltd. | IT Services | 483 | 71053 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Odakyu Electric Railway Co. Ltd. | Road & Rail | 2050 | 26583 |
| &nbsp;&nbsp;&nbsp; Oji Holdings Corp. | Paper & Forest Products | 6000 | 24146 |
| &nbsp;&nbsp;&nbsp; OKUMA Corp. | Machinery | 195 | 6946 |
| &nbsp;&nbsp;&nbsp; Olympus Corp. | Health Care Equipment & Supplies | 8550 | 152409 |
| &nbsp;&nbsp;&nbsp; Omron Corp. | Electronic Equipment, Instruments & Components | 1245 | 60436 |
| &nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co. Ltd. | Pharmaceuticals | 2830 | 66125 |
| &nbsp;&nbsp;&nbsp; Open House Group Co. Ltd. | Household Durables | 425 | 15525 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. Japan | Software | 225 | 14529 |
| &nbsp;&nbsp;&nbsp; Orient Corp. | Consumer Finance | 450 | 3956 |
| &nbsp;&nbsp;&nbsp; Oriental Land Co. Ltd. | Hotels, Restaurants & Leisure | 1265 | 183693 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | Diversified Financial Services | 8000 | 128447 |
| &nbsp;&nbsp;&nbsp; Orix JREIT Inc. | Equity Real Estate Investment Trusts (REITs) | 18 | 25442 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co. Ltd. | Gas Utilities | 2700 | 43586 |
| &nbsp;&nbsp;&nbsp; OSG Corp. | Machinery | 550 | 7574 |
| &nbsp;&nbsp;&nbsp; Otsuka Corp. | IT Services | 720 | 22673 |
| &nbsp;&nbsp;&nbsp; Otsuka Holdings Co. Ltd. | Pharmaceuticals | 2855 | 93151 |
| &nbsp;&nbsp;&nbsp; PALTAC Corp. | Distributors | 225 | 7904 |
| &nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. | Multiline Retail | 2735 | 50847 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | Household Durables | 14450 | 121617 |
| &nbsp;&nbsp; <sup>a</sup> Park24 Co. Ltd. | Commercial Services & Supplies | 890 | 15345 |
| &nbsp;&nbsp;&nbsp; Penta-Ocean Construction Co. Ltd. | Construction & Engineering | 2075 | 9719 |
| &nbsp;&nbsp; <sup>a</sup> PeptiDream Inc. | Biotechnology | 625 | 9838 |
| &nbsp;&nbsp;&nbsp; Persol Holdings Co. Ltd. | Professional Services | 1200 | 25720 |
| &nbsp;&nbsp;&nbsp; Pigeon Corp. | Household Products | 720 | 11830 |
| &nbsp;&nbsp;&nbsp; Pola Orbis Holdings Inc. | Personal Products | 550 | 7753 |
| &nbsp;&nbsp;&nbsp; Rakus Co. Ltd. | Software | 650 | 7803 |
| &nbsp;&nbsp; <sup>a</sup> Rakuten Inc. | Internet & Direct Marketing Retail | 5550 | 25070 |
| &nbsp;&nbsp;&nbsp; Recruit Holdings Co. Ltd. | Professional Services | 9320 | 295044 |
| &nbsp;&nbsp;&nbsp; Relo Group Inc. | Real Estate Management & Development | 720 | 11590 |
| &nbsp;&nbsp; <sup>a</sup> Renesas Electronics Corp. | Semiconductors & Semiconductor Equipment | 8225 | 73775 |
| &nbsp;&nbsp;&nbsp; Rengo Co. Ltd. | Containers & Packaging | 1475 | 10150 |
| &nbsp;&nbsp; <sup>a</sup> RENOVA Inc. | Independent Power Producers & Energy Traders | 275 | 4917 |
| &nbsp;&nbsp;&nbsp; Resona Holdings Inc. | Banks | 14620 | 80133 |
| &nbsp;&nbsp;&nbsp; Resorttrust Inc. | Hotels, Restaurants & Leisure | 400 | 7121 |
| &nbsp;&nbsp;&nbsp; Ricoh Co. Ltd. | Technology Hardware, Storage & Peripherals | 3850 | 29383 |
| &nbsp;&nbsp;&nbsp; Rinnai Corp. | Household Durables | 185 | 13783 |
| &nbsp;&nbsp;&nbsp; Rohm Co. Ltd. | Semiconductors & Semiconductor Equipment | 595 | 42975 |
| &nbsp;&nbsp;&nbsp; Rohto Pharmaceutical Co. Ltd. | Personal Products | 1340 | 23561 |
| &nbsp;&nbsp;&nbsp; Ryohin Keikaku Co. Ltd. | Multiline Retail | 1625 | 19286 |
| &nbsp;&nbsp;&nbsp; Sankyo Co. Ltd. | Leisure Products | 240 | 9786 |
| &nbsp;&nbsp;&nbsp; Sankyu Inc. | Road & Rail | 265 | 9701 |
| &nbsp;&nbsp;&nbsp; Sanrio Co. Ltd. | Specialty Retail | 400 | 14491 |
| &nbsp;&nbsp;&nbsp; Santen Pharmaceutical Co. Ltd. | Pharmaceuticals | 2450 | 19942 |
| &nbsp;&nbsp;&nbsp; Sanwa Holdings Corp. | Building Products | 1425 | 13187 |
| &nbsp;&nbsp;&nbsp; Sapporo Holdings Ltd. | Beverages | 400 | 9944 |
| &nbsp;&nbsp;&nbsp; Sawai Group Holdings Co. Ltd. | Pharmaceuticals | 260 | 8128 |
| &nbsp;&nbsp;&nbsp; SBI Holdings Inc. | Capital Markets | 1640 | 31285 |
| &nbsp;&nbsp;&nbsp; SCREEN Holdings Co. Ltd. | Semiconductors & Semiconductor Equipment | 265 | 16991 |
| &nbsp;&nbsp;&nbsp; SCSK Corp. | IT Services | 890 | 13497 |
| &nbsp;&nbsp;&nbsp; Secom Co. Ltd. | Commercial Services & Supplies | 1315 | 75176 |
| &nbsp;&nbsp;&nbsp; Sega Sammy Holdings Inc. | Leisure Products | 1035 | 15665 |
| &nbsp;&nbsp;&nbsp; Seibu Holdings Inc. | Industrial Conglomerates | 1450 | 15847 |
| &nbsp;&nbsp;&nbsp; Seiko Epson Corp. | Technology Hardware, Storage & Peripherals | 1775 | 25910 |
| &nbsp;&nbsp;&nbsp; Seino Holdings Co. Ltd. | Road & Rail | 950 | 8438 |
| &nbsp;&nbsp;&nbsp; Sekisui Chemical Co. Ltd. | Household Durables | 2275 | 31812 |
| &nbsp;&nbsp;&nbsp; Sekisui House Ltd. | Household Durables | 3775 | 66762 |
| &nbsp;&nbsp;&nbsp; Sekisui House Reit Inc. | Equity Real Estate Investment Trusts (REITs) | 29 | 16396 |
| &nbsp;&nbsp;&nbsp; Seven & i Holdings Co. Ltd. | Food & Staples Retailing | 5275 | 226280 |
| &nbsp;&nbsp;&nbsp; Seven Bank Ltd. | Banks | 4675 | 9283 |
| &nbsp;&nbsp;&nbsp; SG Holdings Co. Ltd. | Air Freight & Logistics | 2905 | 40291 |
| &nbsp;&nbsp;&nbsp; Sharp Corp. | Household Durables | 1450 | 10385 |
| &nbsp;&nbsp; <sup>a</sup> SHIFT Inc. | IT Services | 75 | 13267 |
| &nbsp;&nbsp;&nbsp; Shikoku Electric Power Co. Inc. | Electric Utilities | 1150 | 6668 |
| &nbsp;&nbsp;&nbsp; Shimadzu Corp. | Electronic Equipment, Instruments & Components | 1775 | 50380 |
| &nbsp;&nbsp;&nbsp; Shimamura Co. Ltd. | Specialty Retail | 145 | 14396 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| SHIMANO Inc. | Leisure Products | 521 | 82605 |
| Shimizu Corp. | Construction & Engineering | 3650 | 19475 |
| Shin-Etsu Chemical Co. Ltd. | Chemicals | 2662 | 327341 |
| Shinko Electric Industries Co. Ltd. | Semiconductors & Semiconductor Equipment | 425 | 10919 |
| Shinsei Bank Ltd. | Banks | 400 | 6512 |
| Shionogi & Co. Ltd. | Pharmaceuticals | 1890 | 94339 |
| Ship Healthcare Holdings Inc. | Health Care Providers & Services | 525 | 10695 |
| Shiseido Co. Ltd. | Personal Products | 2610 | 128003 |
| Shizuoka Financial Group Inc. | Banks | 3325 | 26586 |
| SHO-BOND Holdings Co. Ltd. | Construction & Engineering | 325 | 13843 |
| <sup>a</sup> Shochiku Co. Ltd. | Entertainment | 70 | 6197 |
| Showa Denko KK | Chemicals | 1190 | 18218 |
| <sup>a</sup> Skylark Holdings Co. Ltd. | Hotels, Restaurants & Leisure | 1575 | 18227 |
| SMC Corp. | Machinery | 386 | 162597 |
| SMS Co. Ltd. | Professional Services | 375 | 9535 |
| SoftBank Corp. | Wireless Telecommunication Services | 18525 | 208914 |
| SoftBank Group Corp. | Wireless Telecommunication Services | 6525 | 279109 |
| Sohgo Security Services Co. Ltd. | Commercial Services & Supplies | 460 | 12533 |
| Sojitz Corp. | Trading Companies & Distributors | 1600 | 30473 |
| Sompo Holdings Inc. | Insurance | 2095 | 93044 |
| Sony Corp. | Household Durables | 8400 | 638857 |
| Sotetsu Holdings Inc. | Road & Rail | 525 | 8849 |
| Square Enix Holdings Co. Ltd. | Entertainment | 550 | 25552 |
| Stanley Electric Co. Ltd. | Auto Components | 970 | 18592 |
| Subaru Corp. | Automobiles | 4150 | 63770 |
| Sugi Pharmacy Co. Ltd. | Food & Staples Retailing | 255 | 11345 |
| Sumco Corp. | Semiconductors & Semiconductor Equipment | 2275 | 30294 |
| Sumitomo Bakelite Co. Ltd. | Chemicals | 195 | 5786 |
| Sumitomo Chemical Co. Ltd. | Chemicals | 10250 | 36822 |
| Sumitomo Corp. | Trading Companies & Distributors | 7575 | 126073 |
| Sumitomo Electric Industries Ltd. | Auto Components | 5125 | 58438 |
| Sumitomo Forestry Co. Ltd. | Household Durables | 950 | 16798 |
| Sumitomo Heavy Industries Ltd. | Machinery | 720 | 14428 |
| Sumitomo Metal Mining Co. Ltd. | Metals & Mining | 1625 | 57527 |
| Sumitomo Mitsui Financial Group Inc. | Banks | 8785 | 352612 |
| Sumitomo Mitsui Trust Holdings Inc. | Banks | 2415 | 83975 |
| Sumitomo Pharma Co. Ltd. | Pharmaceuticals | 1025 | 7761 |
| Sumitomo Realty & Development Co. Ltd. | Real Estate Management & Development | 2700 | 63865 |
| Sumitomo Rubber Industries Ltd. | Auto Components | 1300 | 11350 |
| Sundrug Co. Ltd. | Food & Staples Retailing | 450 | 13352 |
| Suntory Beverage & Food Ltd. | Beverages | 875 | 29842 |
| Suzuken Co. Ltd. | Health Care Providers & Services | 525 | 14205 |
| Suzuki Motor Corp. | Automobiles | 3040 | 98403 |
| Sysmex Corp. | Health Care Equipment & Supplies | 1225 | 74255 |
| T&D Holdings Inc. | Insurance | 3400 | 49011 |
| Taiheiyo Cement Corp. | Construction Materials | 800 | 12472 |
| Taisei Corp. | Construction & Engineering | 1175 | 37847 |
| Taisho Pharmaceutical Holdings Co. Ltd. | Pharmaceuticals | 295 | 12968 |
| Taiyo Yuden Co. Ltd. | Electronic Equipment, Instruments & Components | 851 | 24702 |
| Takara Bio Inc. | Biotechnology | 340 | 4440 |
| Takara Holdings Inc. | Beverages | 1200 | 9504 |
| Takashimaya Co. Ltd. | Multiline Retail | 875 | 12222 |
| Takeda Pharmaceutical Co. Ltd. | Pharmaceuticals | 10265 | 319826 |
| TBS Holdings Inc. | Media | 215 | 2496 |
| TDK Corp. | Electronic Equipment, Instruments & Components | 2395 | 78687 |
| TechnoPro Holdings Inc. | Professional Services | 710 | 18968 |
| Teijin Ltd. | Chemicals | 1300 | 12690 |
| Terumo Corp. | Health Care Equipment & Supplies | 4425 | 125628 |
| The Bank of Kyoto Ltd. | Banks | 425 | 18875 |
| The Chiba Bank Ltd. | Banks | 4075 | 29710 |
| The Chugoku Electric Power Co. Inc. | Electric Utilities | 2200 | 11255 |
| The Japan Steel Works Ltd. | Machinery | 400 | 7909 |
| The Kansai Electric Power Co. Inc. | Electric Utilities | 4975 | 48225 |
| THK Co. Ltd. | Machinery | 775 | 14772 |
| TIS Inc. | IT Services | 1600 | 42199 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Tobu Railway Co. Ltd. | Road & Rail | 1340 | 31280 |
| &nbsp;&nbsp;&nbsp; Toda Corp. | Construction & Engineering | 1700 | 9148 |
| &nbsp;&nbsp;&nbsp; Toho Co. Ltd. | Entertainment | 750 | 28876 |
| &nbsp;&nbsp;&nbsp; Toho Gas Co. Ltd. | Gas Utilities | 631 | 12037 |
| &nbsp;&nbsp;&nbsp; Tohoku Electric Power Co. Inc. | Electric Utilities | 3175 | 16628 |
| &nbsp;&nbsp;&nbsp; Tokai Carbon Co. Ltd. | Chemicals | 1425 | 11588 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings Inc. | Insurance | 12840 | 275153 |
| &nbsp;&nbsp;&nbsp; Tokyo Century Corp. | Diversified Financial Services | 440 | 14940 |
| &nbsp;&nbsp; <sup>a</sup> Tokyo Electric Power Co. Holdings Inc. | Electric Utilities | 10550 | 38060 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. | Semiconductors & Semiconductor Equipment | 999 | 294374 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | Gas Utilities | 2821 | 55268 |
| &nbsp;&nbsp;&nbsp; Tokyo Ohka Kogyo Co. Ltd. | Chemicals | 265 | 12030 |
| &nbsp;&nbsp;&nbsp; Tokyo Tatemono Co. Ltd. | Real Estate Management & Development | 1440 | 17451 |
| &nbsp;&nbsp;&nbsp; Tokyu Corp. | Road & Rail | 3475 | 43798 |
| &nbsp;&nbsp;&nbsp; Tokyu Fudosan Holdings Corp. | Real Estate Management & Development | 4375 | 20823 |
| &nbsp;&nbsp;&nbsp; TOPPAN Inc. | Commercial Services & Supplies | 1800 | 26657 |
| &nbsp;&nbsp;&nbsp; Toray Industries Inc. | Chemicals | 10275 | 57362 |
| &nbsp;&nbsp;&nbsp; Toshiba Corp. | Industrial Conglomerates | 2825 | 98552 |
| &nbsp;&nbsp;&nbsp; Toshiba TEC Corp. | Technology Hardware, Storage & Peripherals | 175 | 4781 |
| &nbsp;&nbsp;&nbsp; Tosoh Corp. | Chemicals | 1965 | 23381 |
| &nbsp;&nbsp;&nbsp; TOTO Ltd. | Building Products | 1020 | 34787 |
| &nbsp;&nbsp;&nbsp; Toyo Seikan Group Holdings Ltd. | Containers & Packaging | 950 | 11678 |
| &nbsp;&nbsp;&nbsp; Toyo Suisan Kaisha Ltd. | Food Products | 541 | 20911 |
| &nbsp;&nbsp;&nbsp; Toyo Tire Corp. | Auto Components | 695 | 7885 |
| &nbsp;&nbsp;&nbsp; Toyoda Gosei Co. Ltd. | Auto Components | 525 | 8169 |
| &nbsp;&nbsp;&nbsp; Toyota Boshoku Corp. | Auto Components | 400 | 5354 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Corp. | Auto Components | 1075 | 58987 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | Automobiles | 82386 | 1131719 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp. | Trading Companies & Distributors | 1500 | 55535 |
| <sup>a</sup> Trend Micro Inc. | Software | 810 | 37693 |
| &nbsp;&nbsp;&nbsp; TS TECH Co. Ltd. | Auto Components | 700 | 8037 |
| &nbsp;&nbsp;&nbsp; Tsumura & Co. | Pharmaceuticals | 425 | 9335 |
| &nbsp;&nbsp;&nbsp; Tsuruha Holdings Inc. | Food & Staples Retailing | 270 | 20872 |
| &nbsp;&nbsp;&nbsp; Ube Industries Ltd | Chemicals | 695 | 10208 |
| &nbsp;&nbsp;&nbsp; Ulvac Inc. | Semiconductors & Semiconductor Equipment | 265 | 11167 |
| &nbsp;&nbsp;&nbsp; Unicharm Corp. | Household Products | 2600 | 99866 |
| &nbsp;&nbsp;&nbsp; United Urban Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 21 | 23969 |
| &nbsp;&nbsp;&nbsp; Ushio Inc. | Electrical Equipment | 775 | 9556 |
| &nbsp;&nbsp;&nbsp; USS Co. Ltd. | Specialty Retail | 1475 | 23420 |
| &nbsp;&nbsp;&nbsp; Welcia Holdings Co. Ltd. | Food & Staples Retailing | 705 | 16430 |
| &nbsp;&nbsp;&nbsp; West Japan Railway Co. | Road & Rail | 1525 | 66215 |
| &nbsp;&nbsp;&nbsp; Yakult Honsha Co. Ltd. | Food Products | 911 | 59102 |
| &nbsp;&nbsp;&nbsp; Yamada Holdings Co. Ltd. | Specialty Retail | 4350 | 15396 |
| &nbsp;&nbsp;&nbsp; Yamaguchi Financial Group Inc. | Banks | 1475 | 9625 |
| &nbsp;&nbsp;&nbsp; Yamaha Corp. | Leisure Products | 1075 | 40085 |
| &nbsp;&nbsp;&nbsp; Yamaha Motor Co. Ltd. | Automobiles | 2045 | 46652 |
| &nbsp;&nbsp;&nbsp; Yamato Holdings Co. Ltd. | Air Freight & Logistics | 2200 | 34798 |
| &nbsp;&nbsp;&nbsp; Yamato Kogyo Co. Ltd. | Metals & Mining | 195 | 6658 |
| &nbsp;&nbsp;&nbsp; Yamazaki Baking Co. Ltd. | Food Products | 865 | 10319 |
| &nbsp;&nbsp;&nbsp; Yaoko Co. Ltd. | Food & Staples Retailing | 170 | 8735 |
| &nbsp;&nbsp;&nbsp; YASKAWA Electric Corp. | Machinery | 1775 | 56837 |
| &nbsp;&nbsp;&nbsp; Yokogawa Electric Corp. | Electronic Equipment, Instruments & Components | 1625 | 25925 |
| &nbsp;&nbsp;&nbsp; Yokohama Rubber Co. Ltd. | Auto Components | 925 | 14428 |
| &nbsp;&nbsp;&nbsp; Z Holdings Corp. | Interactive Media & Services | 17700 | 44537 |
| &nbsp;&nbsp;&nbsp; Zenkoku Hosho Co. Ltd. | Diversified Financial Services | 265 | 10142 |
| &nbsp;&nbsp;&nbsp; Zensho Holdings Co. Ltd. | Hotels, Restaurants & Leisure | 675 | 16933 |
| &nbsp;&nbsp;&nbsp; Zeon Corp. | Chemicals | 950 | 9619 |
| &nbsp;&nbsp;&nbsp; Zozo Inc. | Internet & Direct Marketing Retail | 720 | 17789 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term** |  |  |  |
| **Investments (Cost $25,054,647)** |  |  | 24600435 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Short-Term Investments 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Money Market Funds 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **United States 0.9%** |  |  |  |
| <sup>b,c</sup> Institutional Fiduciary Trust Portfolio, 3.84% | Money Market Funds | 217505.0 | 217505 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $217,505)** |  |  | 217505 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $25,272,152) 101.1%** |  |  | 24817940 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities (1.1)%** |  |  | (269483) |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $24548457 |

---

<sup>a</sup>Non-income producing.<br> <sup>b</sup>See Note 3 regarding investments in affiliated management investment companies.<br> <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. |  |  |
| **Forward Exchange Contracts** |  |  |  |  |  |  |  |
|  |  |  |  | **Contract** | **Settlement** | **Unrealized** | **Unrealized** |
| **Currency** | **Counterparty<sup>a</sup>** | **Type** | **Quantity** | **Amount** | **Date** | **Appreciation** | **Depreciation** |
| **OTC Forward Exchange Contracts** |  |  |  |  |  |  |  |
| Japanese Yen | DBAB | Buy | 136016800 | $1037372 | 1/05/23 | $— | $(6512) |
| Japanese Yen | HSBK | Buy | 136016800 | 1037308 | 1/05/23 |  | (6448) |
| Japanese Yen | UBSW | Buy | 136016800 | 1037265 | 1/05/23 |  | (6405) |
| Japanese Yen | DBAB | Buy | 952213261 | 7221944 | 1/05/23 |  | (5200) |
| Japanese Yen | MSCO | Buy | 55642972 | 424340 | 1/05/23 |  | (2626) |
| Japanese Yen | HSBK | Buy | 952213261 | 7216853 | 1/05/23 |  | (109) |
| Japanese Yen | MSCO | Buy | 389555230 | 2952480 | 1/05/23 |  | (74) |
| Japanese Yen | UBSW | Buy | 952213261 | 7216815 | 1/05/23 |  | (71) |
| Japanese Yen | MSCO | Buy | 7285300 | 54003 | 1/05/23 | 1211 |  |
| Japanese Yen | DBAB | Buy | 17808400 | 132134 | 1/05/23 | 2834 |  |
| Japanese Yen | HSBK | Buy | 17808400 | 132025 | 1/05/23 | 2943 |  |
| Japanese Yen | UBSW | Buy | 17808400 | 132006 | 1/05/23 | 2962 |  |
| Japanese Yen | MSCO | Buy | 92862728 | 681089 | 1/05/23 | 22710 |  |
| Japanese Yen | HSBK | Buy | 226997800 | 1664929 | 1/05/23 | 55468 |  |
| Japanese Yen | UBSW | Buy | 226997800 | 1664874 | 1/05/23 | 55523 |  |
| Japanese Yen | DBAB | Buy | 226997800 | 1664707 | 1/05/23 | 55690 |  |
| Japanese Yen | UBSW | Sell | 1304644000 | 9392104 | 1/05/23 |  | (495683) |
| Japanese Yen | HSBK | Sell | 1304644000 | 9392354 | 1/05/23 |  | (495433) |
| Japanese Yen | DBAB | Sell | 1304644000 | 9400990 | 1/05/23 |  | (486797) |
| Japanese Yen | MSCO | Sell | 533718000 | 3842354 | 1/05/23 |  | (202649) |
| Japanese Yen | MSCO | Sell | 11628230 | 88250 | 1/05/23 | 120 |  |
| Japanese Yen | DBAB | Sell | 28392261 | 215478 | 1/05/23 | 296 |  |
| Japanese Yen | UBSW | Sell | 28392261 | 215503 | 1/05/23 | 320 |  |
| Japanese Yen | HSBK | Sell | 28392261 | 215509 | 1/05/23 | 326 |  |
| Japanese Yen | UBSW | Sell | 941193000 | 7159032 | 2/02/23 |  | (416) |
| Japanese Yen | HSBK | Sell | 941193000 | 7159212 | 2/02/23 |  | (236) |
| Japanese Yen | MSCO | Sell | 385033000 | 2928759 | 2/02/23 |  | (103) |
| Japanese Yen | DBAB | Sell | 941193000 | 7164689 | 2/02/23 | 5241 |  |
| &nbsp;&nbsp;&nbsp; Total Forward Exchange Contracts |  |  |  |  |  | $205644 | $(1708762) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) |  |  |  |  |  | $(1503118) |

---

<sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| Nikkei 225 Mini | Nikkei 225 Mini | Long | 4 | $79063 | 3/09/23 | $57 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **DBAB** | Deutsche Bank AG |  |  |  |  |  |
| **HSBK** | HSBC Bank PLC |  |  |  |  |  |
| **MSCO** | MorganStanley |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **UBSW** | UBS AG |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Latin America ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 80.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Brazil 45.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Ambev SA | Beverages | 446400 | $1227658 |
| &nbsp;&nbsp;&nbsp; Americanas SA | Internet & Catalog Retail | 68243 | 124730 |
| &nbsp;&nbsp;&nbsp; Atacadao SA | Food & Staples Retailing | 52700 | 147527 |
| &nbsp;&nbsp;&nbsp; Auren Energia SA | Independent Power Producers & Energy Traders | 37479 | 104563 |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | Capital Markets | 620000 | 1551248 |
| &nbsp;&nbsp;&nbsp; Banco Bradesco SA | Banks | 155060 | 395598 |
| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA | Capital Markets | 117800 | 534141 |
| &nbsp;&nbsp;&nbsp; Banco do Brasil SA | Banks | 86800 | 570967 |
| &nbsp;&nbsp;&nbsp; Banco Santander Brasil SA | Banks | 37200 | 198621 |
| &nbsp;&nbsp;&nbsp; BB Seguridade Participacoes SA | Insurance | 68200 | 435441 |
| &nbsp;&nbsp;&nbsp; BR Malls Participacoes SA | Real Estate Management & Development | 83700 | 131580 |
| &nbsp;&nbsp;&nbsp; Bradespar SA | Metals & Mining | 3110 | 15062 |
| &nbsp;&nbsp; <sup>a</sup> BRF SA | Food Products | 83700 | 131263 |
| &nbsp;&nbsp;&nbsp; Caixa Seguridade Participacoes S/A | Insurance | 46500 | 73540 |
| &nbsp;&nbsp;&nbsp; CCR SA | Transportation Infrastructure | 114700 | 235059 |
| &nbsp;&nbsp;&nbsp; Centrais Eletricas Brasileiras SA | Electric Utilities | 133300 | 1063421 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao |  |  |  |
| Paulo | Water Utilities | 34100 | 369176 |
| &nbsp;&nbsp;&nbsp; Cia Energetica de Minas Gerais | Electric Utilities | 34169 | 104518 |
| &nbsp;&nbsp;&nbsp; Cia Paranaense de Energia | Electric Utilities | 34100 | 44371 |
| &nbsp;&nbsp;&nbsp; Cia Siderurgica Nacional SA | Metals & Mining | 62000 | 170860 |
| &nbsp;&nbsp;&nbsp; Cielo SA | IT Services | 117800 | 116913 |
| &nbsp;&nbsp;&nbsp; Cosan SA | Oil, Gas & Consumable Fuels | 120912 | 392067 |
| &nbsp;&nbsp;&nbsp; CPFL Energia SA | Electric Utilities | 18600 | 116960 |
| &nbsp;&nbsp;&nbsp; CSN Mineracao SA | Metals & Mining | 55800 | 43120 |
| &nbsp;&nbsp;&nbsp; Dexco SA | Paper & Forest Products | 34298 | 44044 |
| &nbsp;&nbsp;&nbsp; Diagnosticos da America SA | Health Care Providers & Services | 9300 | 24185 |
| &nbsp;&nbsp;&nbsp; EDP - Energias do Brasil SA | Electric Utilities | 27900 | 109861 |
| &nbsp;&nbsp; <sup>a</sup> Embraer SA | Aerospace & Defense | 74400 | 201650 |
| &nbsp;&nbsp;&nbsp; Energisa SA | Electric Utilities | 31000 | 259579 |
| &nbsp;&nbsp; <sup>a</sup> Eneva SA | Independent Power Producers & Energy Traders | 124000 | 280188 |
| &nbsp;&nbsp;&nbsp; Engie Brasil Energia SA | Independent Power Producers & Energy Traders | 18600 | 133447 |
| &nbsp;&nbsp;&nbsp; Equatorial Energia SA | Electric Utilities | 96100 | 491808 |
| &nbsp;&nbsp; <sup>b</sup> GPS Participacoes e Empreendimentos SA, 144A | Commercial Services & Supplies | 43400 | 97901 |
| &nbsp;&nbsp;&nbsp; Grendene SA | Textiles, Apparel & Luxury Goods | 34100 | 38946 |
| &nbsp;&nbsp;&nbsp; GRUPO DE MODA SOMA SA | Textiles, Apparel & Luxury Goods | 46500 | 89305 |
| &nbsp;&nbsp; <sup>a</sup> Grupo Mateus SA | Food & Staples Retailing | 40300 | 48240 |
| <sup>a,b</sup> Hapvida Participacoes e Investimentos S/A, 144A | Health Care Providers & Services | 409252 | 393769 |
| &nbsp;&nbsp;&nbsp; Hypera SA | Pharmaceuticals | 40300 | 345009 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA | Banks | 46500 | 192790 |
| &nbsp;&nbsp;&nbsp; Klabin SA | Containers & Packaging | 77500 | 293134 |
| &nbsp;&nbsp;&nbsp; Localiza Rent a Car SA | Road & Rail | 79633 | 802401 |
| &nbsp;&nbsp;&nbsp; Lojas Renner SA | Multiline Retail | 99226 | 384895 |
| &nbsp;&nbsp;&nbsp; M Dias Branco SA | Food Products | 12400 | 84150 |
| &nbsp;&nbsp; <sup>a</sup> Magazine Luiza SA | Multiline Retail | 310036 | 160898 |
| &nbsp;&nbsp;&nbsp; Marfrig Global Foods SA | Food Products | 34100 | 56190 |
| &nbsp;&nbsp;&nbsp; Multiplan Empreendimentos Imobiliarios SA | Real Estate Management & Development | 27900 | 115727 |
| &nbsp;&nbsp;&nbsp; Natura & Co. Holding SA | Personal Products | 99200 | 218138 |
| &nbsp;&nbsp;&nbsp; Neoenergia SA | Electric Utilities | 21700 | 63500 |
| &nbsp;&nbsp;&nbsp; Odontoprev SA | Health Care Providers & Services | 27970 | 47837 |
| &nbsp;&nbsp; <sup>a</sup> Petro Rio SA | Oil, Gas & Consumable Fuels | 68200 | 480652 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA | Oil, Gas & Consumable Fuels | 378200 | 2008566 |
| &nbsp;&nbsp;&nbsp; Porto Seguro SA | Insurance | 18600 | 81555 |
| &nbsp;&nbsp;&nbsp; Raia Drogasil SA | Food & Staples Retailing | 108500 | 487451 |
| &nbsp;&nbsp; <sup>b</sup> Rede D'Or Sao Luiz SA, 144A | Health Care Providers & Services | 80439 | 450662 |
| &nbsp;&nbsp;&nbsp; Rumo SA | Road & Rail | 127100 | 448001 |
| &nbsp;&nbsp;&nbsp; Sao Martinho SA | Food Products | 15500 | 77856 |
| &nbsp;&nbsp;&nbsp; Sendas Distribuidora SA | Food & Staples Retailing | 96100 | 354386 |
| &nbsp;&nbsp;&nbsp; SIMPAR SA | Road & Rail | 31000 | 39691 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; SLC Agricola SA | Food Products | 9300 | 82629 |
| &nbsp;&nbsp; <sup>a</sup> Smartfit Escola de Ginastica e Danca SA | Hotels, Restaurants & Leisure | 12400 | 31917 |
| &nbsp;&nbsp;&nbsp; Suzano SA | Paper & Forest Products | 71300 | 651454 |
| &nbsp;&nbsp;&nbsp; Telefonica Brasil SA | Diversified Telecommunication Services | 45000 | 326862 |
| &nbsp;&nbsp;&nbsp; TIM SA | Wireless Telecommunication Services | 83700 | 196578 |
| &nbsp;&nbsp;&nbsp; TOTVS SA | Software | 46500 | 243256 |
| &nbsp;&nbsp;&nbsp; Transmissora Alianca de Energia Eletrica SA | Electric Utilities | 21700 | 142495 |
| &nbsp;&nbsp;&nbsp; Ultrapar Participacoes SA | Oil, Gas & Consumable Fuels | 83742 | 200007 |
| &nbsp;&nbsp;&nbsp; Usinas Siderurgicas de Minas Gerais SA Usiminas | Metals & Mining | 18600 | 26105 |
| &nbsp;&nbsp;&nbsp; Vale SA | Metals & Mining | 396800 | 6679783 |
| &nbsp;&nbsp;&nbsp; Vamos Locacao de Caminhoes Maquinas e |  |  |  |
| Equipamentos SA | Road & Rail | 31000 | 74216 |
| &nbsp;&nbsp;&nbsp; Vibra Energia SA | Specialty Retail | 114700 | 337816 |
| &nbsp;&nbsp;&nbsp; WEG SA | Machinery | 151900 | 1107944 |
|  |  |  | 27805878 |
| &nbsp;&nbsp;&nbsp; **Chile 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Banco de Chile | Banks | 4458420 | 460521 |
| &nbsp;&nbsp;&nbsp; Banco de Credito e Inversiones SA | Banks | 5580 | 159747 |
| &nbsp;&nbsp;&nbsp; Banco Santander Chile | Banks | 6319381 | 251826 |
| &nbsp;&nbsp;&nbsp; CAP SA | Metals & Mining | 7657 | 62464 |
| &nbsp;&nbsp;&nbsp; Cencosud SA | Food & Staples Retailing | 135067 | 221161 |
| &nbsp;&nbsp;&nbsp; Cencosud Shopping SA | Real Estate Management & Development | 49414 | 77652 |
| &nbsp;&nbsp;&nbsp; Cia Cervecerias Unidas SA | Beverages | 13485 | 89668 |
| &nbsp;&nbsp;&nbsp; Cia Sud Americana de Vapores SA | Marine | 1784236 | 140318 |
| &nbsp;&nbsp;&nbsp; Colbun SA | Independent Power Producers & Energy Traders | 717185 | 73490 |
| &nbsp;&nbsp;&nbsp; Empresas CMPC SA | Paper & Forest Products | 123628 | 205464 |
| &nbsp;&nbsp;&nbsp; Empresas Copec SA | Oil, Gas & Consumable Fuels | 49786 | 369852 |
| &nbsp;&nbsp;&nbsp; Enel Americas SA | Electric Utilities | 1940941 | 258579 |
| &nbsp;&nbsp;&nbsp; Enel Chile SA | Electric Utilities | 2538032 | 116155 |
| &nbsp;&nbsp;&nbsp; Falabella SA | Multiline Retail | 80941 | 156761 |
| &nbsp;&nbsp;&nbsp; Itau CorpBanca Chile SA | Banks | 33504769 | 73542 |
| &nbsp;&nbsp;&nbsp; Plaza SA | Real Estate Management & Development | 29295 | 36380 |
| &nbsp;&nbsp;&nbsp; Quinenco SA | Industrial Conglomerates | 27125 | 91377 |
| &nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile SA, A | Chemicals | 1767 | 124695 |
|  |  |  | 2969652 |
| &nbsp;&nbsp;&nbsp; **Colombia 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Bancolombia SA | Banks | 28117 | 246443 |
| &nbsp;&nbsp;&nbsp; Cementos Argos SA | Construction Materials | 50127 | 37216 |
| &nbsp;&nbsp;&nbsp; Ecopetrol SA | Oil, Gas & Consumable Fuels | 483445 | 241280 |
| &nbsp;&nbsp;&nbsp; Grupo de Inversiones Suramericana SA | Diversified Financial Services | 10633 | 92101 |
| &nbsp;&nbsp;&nbsp; Interconexion Electrica SA ESP | Electric Utilities | 44516 | 192794 |
|  |  |  | 809834 |
| &nbsp;&nbsp;&nbsp; **Mexico 27.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Alfa SAB de CV, A | Industrial Conglomerates | 370512 | 235952 |
| &nbsp;&nbsp;&nbsp; Alpek SAB de CV | Chemicals | 38130 | 53984 |
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV | Wireless Telecommunication Services | 2879652 | 2612593 |
| &nbsp;&nbsp;&nbsp; Arca Continental SAB de CV | Beverages | 44547 | 361730 |
| &nbsp;&nbsp; <sup>b</sup> Banco del Bajio SA, 144A | Banks | 72354 | 228528 |
| &nbsp;&nbsp;&nbsp; Becle SAB de CV | Beverages | 55025 | 119638 |
| &nbsp;&nbsp; <sup>a</sup> Cemex SAB de CV | Construction Materials | 1546559 | 625377 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Femsa SAB de CV | Beverages | 53661 | 363041 |
| &nbsp;&nbsp;&nbsp; Concentradora Fibra Danhos SA de CV | Equity Real Estate Investment Trusts (REITs) | 24397 | 29296 |
| &nbsp;&nbsp; <sup>a</sup> Controladora Vuela Cia de Aviacion SAB de CV, A | Airlines | 95201 | 79679 |
| &nbsp;&nbsp;&nbsp; El Puerto de Liverpool SAB de CV | Multiline Retail | 20181 | 119011 |
| &nbsp;&nbsp;&nbsp; Fibra Uno Administracion SA de CV | Equity Real Estate Investment Trusts (REITs) | 293446 | 345740 |
| &nbsp;&nbsp;&nbsp; Fomento Economico Mexicano SAB de CV | Beverages | 186124 | 1448228 |
| &nbsp;&nbsp;&nbsp; Gruma SAB de CV | Food Products | 19871 | 265875 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte SAB de CV | Transportation Infrastructure | 28117 | 216527 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico SAB de CV | Transportation Infrastructure | 35061 | 502240 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste SAB de CV | Transportation Infrastructure | 20336 | 474462 |
| &nbsp;&nbsp;&nbsp; Grupo Bimbo SAB de CV | Food Products | 226021 | 955245 |
| &nbsp;&nbsp;&nbsp; Grupo Carso SAB de CV, A1 | Industrial Conglomerates | 46035 | 193166 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Grupo Comercial Chedraui SA de CV | Food & Staples Retailing | 47089 | 200996 |
| Grupo Elektra SAB de CV | Banks | 6479 | 365651 |
| Grupo Financiero Banorte SAB de CV | Banks | 294593 | 2115050 |
| <sup>a</sup> Grupo Financiero Inbursa SAB de CV | Banks | 203670 | 343226 |
| Grupo Mexico SAB de CV, B | Metals & Mining | 322400 | 1131785 |
| Grupo Televisa SAB | Media | 245179 | 222944 |
| Industrias Bachoco SAB de CV | Food Products | 7409 | 31872 |
| Industrias Penoles SAB de CV | Metals & Mining | 12648 | 155549 |
| Kimberly-Clark de Mexico SAB de CV, A | Household Products | 84940 | 144144 |
| Megacable Holdings SAB de CV | Media | 30566 | 81218 |
| Operadora De Sites Mexicanos SAB de CV, A-1 | Diversified Telecommunication Services | 127968 | 125885 |
| Orbia Advance Corp. SAB de CV | Chemicals | 99076 | 175403 |
| Prologis Property Mexico SA de CV | Equity Real Estate Investment Trusts (REITs) | 54963 | 157466 |
| Promotora y Operadora de Infraestructura SAB de |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CV | Transportation Infrastructure | 22320 | 182754 |
| Qualitas Controladora SAB de CV | Insurance | 17205 | 75858 |
| Regional SAB de CV | Banks | 24149 | 173602 |
| <sup>a</sup> Sitios Latinoamerica SAB de CV | Construction & Engineering | 180575 | 86640 |
| Wal-Mart de Mexico SAB de CV, V | Food & Staples Retailing | 526101 | 1851737 |
|  |  |  | 16852092 |
| **United States 1.1%** |  |  |  |
| GCC SAB de CV | Construction Materials | 16678 | 111602 |
| JBS SA | Food Products | 139500 | 581013 |
|  |  |  | 692615 |
| **Total Common Stocks (Cost $45,769,308)** |  |  | 49130071 |
| **Preferred Stocks 18.1%** |  |  |  |
| **Brazil 15.5%** |  |  |  |
| <sup>c</sup> Alpargatas SA, 2.725%, pfd. | Textiles, Apparel & Luxury Goods | 21700 | 61979 |
| <sup>c</sup> Banco Bradesco SA, 4.052%, pfd. | Banks | 533200 | 1529993 |
| <sup>c</sup> Bradespar SA, 11.009%,pfd. | Metals & Mining | 24807 | 139640 |
| <sup>c</sup> Braskem SA, 7.138%, pfd., A | Chemicals | 18600 | 83704 |
| <sup>c</sup> Centrais Eletricas Brasileiras SA, 3.734%, pfd.,B | Electric Utilities | 27900 | 228442 |
| <sup>c</sup> Cia de Transmissao de Energia Eletrica Paulista, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.922%,pfd. | Electric Utilities | 18600 | 81027 |
| <sup>c</sup> Cia Energetica de Minas Gerais, 12.217%, pfd. | Electric Utilities | 130215 | 274747 |
| <sup>c</sup> Cia Paranaense de Energia, 12.554%,pfd. | Electric Utilities | 136400 | 204351 |
| <sup>c</sup> Gerdau SA, 17.194%, pfd. | Metals & Mining | 105400 | 586315 |
| <sup>c</sup> Itau Unibanco Holding SA, 4.072%,pfd. | Banks | 492900 | 2333917 |
| <sup>c</sup> Itausa SA, 6.839%,pfd. | Banks | 533273 | 859539 |
| <sup>c</sup> Metalurgica Gerdau SA, 9.637%,pfd. | Metals & Mining | 68200 | 167537 |
| <sup>c</sup> Petroleo Brasileiro SA, 42.90%, pfd. | Oil, Gas & Consumable Fuels | 573500 | 2661253 |
| <sup>c</sup> Raizen SA, 4.545%, pfd. | Oil, Gas & Consumable Fuels | 120900 | 85642 |
| <sup>c</sup> Unipar Carbocloro SA, 15.572%, pfd.,B | Chemicals | 4940 | 82347 |
| <sup>c</sup> Usinas Siderurgicas de Minas Gerais SA Usiminas, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.785%, pfd.,A | Metals & Mining | 46500 | 63060 |
|  |  |  | 9443493 |
| **Chile 2.0%** |  |  |  |
| <sup>c</sup> Embotelladora Andina SA, B, 13.063%, pfd.,B | Beverages | 38657 | 94375 |
| <sup>c</sup> Sociedad Quimica y Minera de Chile SA, 0.011%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; pfd., B | Chemicals | 13888 | 1118278 |
|  |  |  | 1212653 |
| **Colombia 0.6%** |  |  |  |
| <sup>c</sup> Bancolombia SA, 9.299%, pfd. | Banks | 45818 | 317020 |
| <sup>c</sup> Grupo Aval Acciones y Valores SA, 2.943%, pfd. | Banks | 445904 | 52417 |
| <sup>c</sup> Grupo de Inversiones Suramericana SA, 5.939%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; pfd. | Diversified Financial Services | 8370 | 22786 |
|  |  |  | 392223 |
| **Total Preferred Stocks (Cost $11,174,338)** |  |  | 11048369 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Right 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Brazil 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> Localiza Rent a Car SA | Road & Rail | 348 | 709 |
| &nbsp;&nbsp;&nbsp; **Total Rights (Cost $0)** |  |  | 709 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $56,943,646) 98.7%** |  |  | 60179149 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.3%** |  |  | 762452 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | 60941601 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,170,860, representing 1.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,170,860, representing 1.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,170,860, representing 1.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,170,860, representing 1.9% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** | **Equity Contracts** |  |  |  |  |  |
| Bovespa Index | Bovespa Index | Long | 35 | $736513 | 2/15/23 | $3395 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **REIT** | – Real Estate Investment Trust |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Mexico ETF** | **Industry** | &nbsp;&nbsp; **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Mexico 99.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Alfa SAB de CV, A | Industrial Conglomerates | 294201 | $187355 |
| &nbsp;&nbsp;&nbsp; Alpek SAB de CV | Chemicals | 30384 | 43018 |
| &nbsp;&nbsp;&nbsp; America Movil SAB de CV | Wireless Telecommunication Services | 1620819 | 1470504 |
| &nbsp;&nbsp;&nbsp; Arca Continental SAB de CV | Beverages | 35379 | 287284 |
| &nbsp;&nbsp; <sup>a</sup> Banco del Bajio SA, 144A | Banks | 57456 | 181473 |
| &nbsp;&nbsp;&nbsp; Becle SAB de CV | Beverages | 43632 | 94867 |
| &nbsp;&nbsp; <sup>b</sup> Cemex SAB de CV | Construction Materials | 950067 | 384176 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Femsa SAB de CV | Beverages | 42606 | 288249 |
| &nbsp;&nbsp;&nbsp; Concentradora Fibra Danhos SA de CV | Equity Real Estate Investment Trusts (REITs) | 19368 | 23257 |
| &nbsp;&nbsp; <sup>b</sup> Controladora Vuela Cia de Aviacion SAB de CV, A | Airlines | 75852 | 63485 |
| &nbsp;&nbsp;&nbsp; El Puerto de Liverpool SAB de CV | Multiline Retail | 15975 | 94208 |
| &nbsp;&nbsp;&nbsp; Fibra Uno Administracion SA de CV | Equity Real Estate Investment Trusts (REITs) | 233019 | 274544 |
| &nbsp;&nbsp;&nbsp; Fomento Economico Mexicano SAB de CV | Beverages | 110205 | 857503 |
| &nbsp;&nbsp;&nbsp; Gruma SAB de CV | Food Products | 15795 | 211338 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte SAB de CV | Transportation Infrastructure | 22320 | 171885 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico SAB de CV | Transportation Infrastructure | 23508 | 336746 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste SAB de CV | Transportation Infrastructure | 14310 | 333869 |
| &nbsp;&nbsp;&nbsp; Grupo Bimbo SAB de CV | Food Products | 116595 | 492772 |
| &nbsp;&nbsp;&nbsp; Grupo Carso SAB de CV, A1 | Industrial Conglomerates | 36540 | 153325 |
| &nbsp;&nbsp;&nbsp; Grupo Comercial Chedraui SA de CV | Food & Staples Retailing | 37377 | 159541 |
| &nbsp;&nbsp;&nbsp; Grupo Elektra SAB de CV | Banks | 5142 | 290196 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV | Banks | 168237 | 1207869 |
| &nbsp;&nbsp; <sup>b</sup> Grupo Financiero Inbursa SAB de CV | Banks | 161667 | 272442 |
| &nbsp;&nbsp;&nbsp; Grupo Mexico SAB de CV, B | Metals & Mining | 193797 | 680324 |
| &nbsp;&nbsp;&nbsp; Grupo Televisa SAB | Media | 194679 | 177024 |
| &nbsp;&nbsp;&nbsp; Industrias Bachoco SAB de CV | Food Products | 6012 | 25862 |
| &nbsp;&nbsp;&nbsp; Industrias Penoles SAB de CV | Metals & Mining | 10044 | 123524 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark de Mexico SAB de CV, A | Household Products | 67347 | 114288 |
| &nbsp;&nbsp;&nbsp; Megacable Holdings SAB de CV | Media | 24327 | 64640 |
| &nbsp;&nbsp;&nbsp; Operadora De Sites Mexicanos SAB de CV, A-1 | Diversified Telecommunication Services | 101394 | 99743 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV | Chemicals | 78633 | 139211 |
| &nbsp;&nbsp;&nbsp; Prologis Property Mexico SA de CV | Equity Real Estate Investment Trusts (REITs) | 43596 | 124900 |
| &nbsp;&nbsp;&nbsp; Promotora y Operadora de Infraestructura SAB de |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CV | Transportation Infrastructure | 17721 | 145098 |
| &nbsp;&nbsp;&nbsp; Qualitas Controladora SAB de CV | Insurance | 13707 | 60435 |
| &nbsp;&nbsp;&nbsp; Regional SAB de CV | Banks | 19170 | 137809 |
| &nbsp;&nbsp; <sup>b</sup> Sitios Latinoamerica SAB de CV | Construction & Engineering | 142920 | 68573 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico SAB de CV, V | Food & Staples Retailing | 303552 | 1068423 |
|  |  |  | 10909760 |
| &nbsp;&nbsp;&nbsp; **United States 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; GCC SAB de CV | Construction Materials | 13275 | 88830 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $9,916,265) 100.0%** |  |  | 10998590 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | 4040 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $11002630 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $181,473, representing 1.6% of net assets.<br> <sup>b</sup>Non-income producing.<br>**Abbreviations**<br>**Selected Portfolio**<br>**REIT** – Real Estate Investment Trust

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Franklin FTSE Russia ETF** | **Industry** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** |  |
| **Common Stocks 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>b</sup> Aeroflot PJSC | Airlines | 174496 | $— |
| <sup>b</sup> Alrosa PJSC | Metals & Mining | 361232 |  |
| <sup>b</sup> Credit Bank of Moscow PJSC | Banks | 2127840 |  |
| <sup>b</sup> Federal Grid Co. Unified Energy System PJSC | Electric Utilities | 45533568 |  |
| Gazprom PJSC | Oil, Gas & Consumable Fuels | 981872 |  |
| Inter RAO UES PJSC | Electric Utilities | 6229280 |  |
| LUKOIL PJSC | Oil, Gas & Consumable Fuels | 36048 |  |
| <sup>b</sup> M.Video PJSC | Specialty Retail | 8000 |  |
| Magnit PJSC | Food & Staples Retailing | 8112 |  |
| Magnitogorsk Iron & Steel Works PJSC | Metals & Mining | 370640 |  |
| MMC Norilsk Nickel PJSC | Metals & Mining | 2888 |  |
| Mobile TeleSystems PJSC | Wireless Telecommunication Services | 147584 |  |
| <sup>b</sup> Moscow Exchange MICEX-RTS PJSC | Capital Markets | 253248 |  |
| Mosenergo PJSC | Electric Utilities | 1418704 |  |
| Novatek PJSC | Oil, Gas & Consumable Fuels | 47472 |  |
| Novolipetsk Steel PJSC | Metals & Mining | 200944 |  |
| PhosAgro PJSC | Chemicals | 6208 |  |
| <sup>b</sup> Polyus PJSC | Metals & Mining | 3504 |  |
| Raspadskaya OJSC | Metals & Mining | 10720 |  |
| Rosneft Oil Co. PJSC | Oil, Gas & Consumable Fuels | 92320 |  |
| <sup>b</sup> ROSSETI PJSC | Electric Utilities | 5157472 |  |
| Rostelecom PJSC | Diversified Telecommunication Services | 165056 |  |
| RusHydro PJSC | Electric Utilities | 20149712 |  |
| <sup>b</sup> Sberbank of Russia PJSC | Banks | 959968 |  |
| <sup>c</sup> Segezha Group PJSC, 144A | Paper & Forest Products | 666096 |  |
| Severstal PAO | Metals & Mining | 27744 |  |
| <sup>b</sup> Sistema PJSFC | Wireless Telecommunication Services | 499664 |  |
| <sup>b</sup> Sovcomflot PJSC | Oil, Gas & Consumable Fuels | 72128 |  |
| Surgutneftegas PJSC | Oil, Gas & Consumable Fuels | 634480 |  |
| Tatneft PJSC | Oil, Gas & Consumable Fuels | 105552 |  |
| <sup>b</sup> Unipro PJSC | Independent Power Producers & Energy Traders | 1811376 |  |
| United Co. RUSAL International PJSC | Metals & Mining | 447600 |  |
| <sup>b</sup> VTB Bank PJSC | Banks | 886353216 |  |
| **Preferred Stocks 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>d</sup> Bashneft PJSC, pfd. | Oil, Gas & Consumable Fuels | 3392 |  |
| <sup>d</sup> Surgutneftegas PJSC, pfd. | Oil, Gas & Consumable Fuels | 682080 |  |
| <sup>d</sup> Tatneft PJSC, pfd. | Oil, Gas & Consumable Fuels | 10416 |  |
| <sup>d</sup> Transneft PJSC, pfd. | Oil, Gas & Consumable Fuels | 276 |  |
| **Total Preferred Stocks (Cost $1,113,686)** |  |  |  |
| **Total Investments (Cost $22,476,787) 0.0%<sup>†</sup>** |  |  |  |
| **Other Assets, less Liabilities 100.0%** |  |  | 4675 |
| **Net Assets 100.0%** |  |  | $4675 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements.<br> <sup>b</sup>Non-income producing.<br> <sup>c</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $0, representing 0.0% of net assets.<br> <sup>d</sup>Variable rate security. The rate shown represents the yield at period end.

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Saudi Arabia ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Saudi Arabia 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Abdullah Al Othaim Markets Co. | Food & Staples Retailing | 858 | $23744 |
| &nbsp;&nbsp;&nbsp; ACWA Power Co. | Independent Power Producers & Energy Traders | 2586 | 104596 |
| &nbsp;&nbsp;&nbsp; Advanced Petrochemical Co. | Chemicals | 2475 | 27990 |
| &nbsp;&nbsp; <sup>a</sup> Al Rajhi Bank | Banks | 31299 | 626313 |
| &nbsp;&nbsp;&nbsp; Alinma Bank | Banks | 18822 | 163027 |
| &nbsp;&nbsp;&nbsp; Almarai Co. JSC | Food Products | 4899 | 69744 |
| &nbsp;&nbsp;&nbsp; Arab National Bank | Banks | 12936 | 110324 |
| &nbsp;&nbsp;&nbsp; Arabian Centres Co. Ltd. | Real Estate Management & Development | 3123 | 15873 |
| &nbsp;&nbsp;&nbsp; Arabian Internet & Communications Services Co. | IT Services | 489 | 31594 |
| &nbsp;&nbsp; <sup>a</sup> Bank AlBilad | Banks | 9522 | 112627 |
| &nbsp;&nbsp;&nbsp; Bank Al-Jazira | Banks | 7809 | 39648 |
| &nbsp;&nbsp;&nbsp; Banque Saudi Fransi | Banks | 11421 | 123388 |
| &nbsp;&nbsp;&nbsp; BinDawood Holding Co. | Food & Staples Retailing | 570 | 7341 |
| &nbsp;&nbsp;&nbsp; Bupa Arabia for Cooperative Insurance Co. | Insurance | 1391 | 53227 |
| &nbsp;&nbsp; <sup>a</sup> Co. for Cooperative Insurance | Insurance | 1191 | 25512 |
| &nbsp;&nbsp;&nbsp; Dallah Healthcare Co. | Health Care Providers & Services | 735 | 28946 |
| &nbsp;&nbsp; <sup>a</sup> Dar Al Arkan Real Estate Development Co. | Real Estate Management & Development | 10284 | 31799 |
| &nbsp;&nbsp;&nbsp; Dr Sulaiman Al Habib Medical Services Group Co. | Health Care Providers & Services | 1782 | 104606 |
| &nbsp;&nbsp;&nbsp; Elm Co. | IT Services | 498 | 43996 |
| &nbsp;&nbsp; <sup>a</sup> Emaar Economic City | Real Estate Management & Development | 8532 | 18935 |
| &nbsp;&nbsp;&nbsp; Etihad Etisalat Co. | Wireless Telecommunication Services | 7332 | 67799 |
| &nbsp;&nbsp;&nbsp; Jarir Marketing Co. | Specialty Retail | 1143 | 45623 |
| &nbsp;&nbsp; <sup>a</sup> Mobile Telecommunications Co. Saudi Arabia | Wireless Telecommunication Services | 8553 | 22896 |
| &nbsp;&nbsp;&nbsp; Mouwasat Medical Services Co. | Health Care Providers & Services | 924 | 51388 |
| &nbsp;&nbsp;&nbsp; Nahdi Medical Co. | Food & Staples Retailing | 756 | 33636 |
| &nbsp;&nbsp; <sup>a</sup> National Industrialization Co. | Chemicals | 6369 | 20947 |
| &nbsp;&nbsp;&nbsp; Qassim Cement Co. | Construction Materials | 858 | 13950 |
| &nbsp;&nbsp; <sup>a</sup> Rabigh Refining & Petrochemical Co. | Oil, Gas & Consumable Fuels | 8118 | 23071 |
| &nbsp;&nbsp;&nbsp; Riyad Bank | Banks | 26823 | 226975 |
| &nbsp;&nbsp;&nbsp; SABIC Agri-Nutrients Co. | Chemicals | 4452 | 173199 |
| &nbsp;&nbsp;&nbsp; Sahara International Petrochemical Co. | Chemicals | 6981 | 63067 |
| &nbsp;&nbsp; <sup>a</sup> Saudi Airlines Catering Co. | Commercial Services & Supplies | 780 | 15567 |
| &nbsp;&nbsp; <sup>a</sup> Saudi Arabian Mining Co. | Metals & Mining | 14040 | 241721 |
| &nbsp;&nbsp; <sup>b</sup> Saudi Arabian Oil Co., 144A | Oil, Gas & Consumable Fuels | 46305 | 395527 |
| &nbsp;&nbsp;&nbsp; Saudi Basic Industries Corp. | Chemicals | 15144 | 360264 |
| &nbsp;&nbsp;&nbsp; Saudi British Bank | Banks | 18732 | 194149 |
| &nbsp;&nbsp;&nbsp; Saudi Cement Co. | Construction Materials | 1458 | 19787 |
| &nbsp;&nbsp;&nbsp; Saudi Electricity Co. | Electric Utilities | 15189 | 93365 |
| &nbsp;&nbsp; <sup>a</sup> Saudi Ground Services Co. | Transportation Infrastructure | 1734 | 10077 |
| &nbsp;&nbsp;&nbsp; Saudi Industrial Investment Group | Chemicals | 7188 | 42042 |
| &nbsp;&nbsp;&nbsp; Saudi Investment Bank | Banks | 9522 | 43936 |
| &nbsp;&nbsp; <sup>a</sup> Saudi Kayan Petrochemical Co. | Chemicals | 14283 | 51917 |
| &nbsp;&nbsp;&nbsp; Saudi National Bank | Banks | 35529 | 477439 |
| &nbsp;&nbsp; <sup>a</sup> Saudi Research & Media Group | Media | 624 | 30220 |
| &nbsp;&nbsp;&nbsp; Saudi Tadawul Group Holding Co. | Capital Markets | 933 | 44937 |
| &nbsp;&nbsp;&nbsp; Saudi Telecom Co. | Diversified Telecommunication Services | 30603 | 298049 |
| &nbsp;&nbsp;&nbsp; Saudia Dairy & Foodstuff Co. | Food Products | 300 | 17243 |
| &nbsp;&nbsp;&nbsp; Savola Group | Food Products | 5085 | 37143 |
| &nbsp;&nbsp; <sup>a</sup> Seera Group Holding | Hotels, Restaurants & Leisure | 2856 | 13239 |
| &nbsp;&nbsp;&nbsp; Southern Province Cement Co. | Construction Materials | 1332 | 18077 |
| &nbsp;&nbsp;&nbsp; United Electronics Co. | Specialty Retail | 762 | 14011 |
| &nbsp;&nbsp; <sup>a</sup> Yamama Cement Co. | Construction Materials | 1929 | 13859 |
| &nbsp;&nbsp;&nbsp; Yanbu Cement Co. | Construction Materials | 1500 | 14250 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Yanbu National Petrochemical Co. | Chemicals | 5355 | 59278 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $4,300,051) 100.0%** |  |  | 5011878 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | (1846) |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $5010032 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $395,527, representing 7.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $395,527, representing 7.9% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $395,527, representing 7.9% of net assets. |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE South Africa ETF** | **Industry** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Luxembourg 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Reinet Investments SCA | Capital Markets | 1836 | $35324 |
| &nbsp;&nbsp;&nbsp; **Romania 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; NEPI Rockcastle PLC | Real Estate Management & Development | 6279 | 38036 |
| &nbsp;&nbsp;&nbsp; **South Africa 97.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Absa Group Ltd. | Banks | 11241 | 128100 |
| &nbsp;&nbsp;&nbsp; African Rainbow Minerals Ltd. | Metals & Mining | 1434 | 24272 |
| &nbsp;&nbsp;&nbsp; Anglo American Platinum Ltd. | Metals & Mining | 759 | 63561 |
| &nbsp;&nbsp;&nbsp; AngloGold Ashanti Ltd. | Metals & Mining | 5664 | 109595 |
| &nbsp;&nbsp;&nbsp; Aspen Pharmacare Holdings Ltd. | Pharmaceuticals | 5016 | 40190 |
| &nbsp;&nbsp;&nbsp; AVI Ltd. | Food Products | 4452 | 19679 |
| &nbsp;&nbsp;&nbsp; Bid Corp. Ltd. | Food & Staples Retailing | 4503 | 87294 |
| &nbsp;&nbsp;&nbsp; Bidvest Group Ltd. | Industrial Conglomerates | 4593 | 57872 |
| &nbsp;&nbsp;&nbsp; Capitec Bank Holdings Ltd. | Banks | 1149 | 125507 |
| &nbsp;&nbsp;&nbsp; Clicks Group Ltd. | Food & Staples Retailing | 3303 | 52429 |
| &nbsp;&nbsp; <sup>a</sup> Dis-Chem Pharmacies Ltd., 144A, Reg S | Food & Staples Retailing | 5028 | 8496 |
| &nbsp;&nbsp; <sup>b</sup> Discovery Ltd. | Insurance | 7110 | 51544 |
| &nbsp;&nbsp; <sup>b</sup> Distell Group Holdings Ltd. | Beverages | 2037 | 21124 |
| &nbsp;&nbsp;&nbsp; Exxaro Resources Ltd. | Oil, Gas & Consumable Fuels | 3264 | 41687 |
| &nbsp;&nbsp;&nbsp; FirstRand Ltd. | Diversified Financial Services | 67173 | 245242 |
| &nbsp;&nbsp;&nbsp; Foschini Group Ltd. | Specialty Retail | 4344 | 25786 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd. | Metals & Mining | 11886 | 123051 |
| &nbsp;&nbsp;&nbsp; Growthpoint Properties Ltd. | Equity Real Estate Investment Trusts (REITs) | 45942 | 39259 |
| &nbsp;&nbsp;&nbsp; Harmony Gold Mining Co. Ltd. | Metals & Mining | 7248 | 25047 |
| &nbsp;&nbsp;&nbsp; Impala Platinum Holdings Ltd. | Metals & Mining | 11004 | 137843 |
| &nbsp;&nbsp;&nbsp; Investec Ltd. | Capital Markets | 3882 | 24526 |
| &nbsp;&nbsp;&nbsp; Kumba Iron Ore Ltd. | Metals & Mining | 732 | 21179 |
| &nbsp;&nbsp;&nbsp; Life Healthcare Group Holdings Ltd. | Health Care Providers & Services | 18729 | 18580 |
| &nbsp;&nbsp;&nbsp; Momentum Metropolitan Holdings | Insurance | 16944 | 17128 |
| &nbsp;&nbsp;&nbsp; Mr Price Group Ltd. | Specialty Retail | 3474 | 32451 |
| &nbsp;&nbsp;&nbsp; MTN Group Ltd. | Wireless Telecommunication Services | 24369 | 182320 |
| &nbsp;&nbsp;&nbsp; MultiChoice Group | Media | 4188 | 28857 |
| &nbsp;&nbsp;&nbsp; Naspers Ltd., N | Internet & Direct Marketing Retail | 2876 | 477391 |
| &nbsp;&nbsp;&nbsp; Nedbank Group Ltd. | Banks | 5676 | 70914 |
| &nbsp;&nbsp;&nbsp; Netcare Ltd. | Health Care Providers & Services | 19482 | 16602 |
| &nbsp;&nbsp; <sup>b</sup> Northam Platinum Ltd. | Metals & Mining | 5007 | 55081 |
| &nbsp;&nbsp;&nbsp; Old Mutual Ltd. | Insurance | 61140 | 37586 |
| &nbsp;&nbsp;&nbsp; OUTsurance Group Ltd. | Insurance | 11370 | 21076 |
| &nbsp;&nbsp; <sup>a</sup> Pepkor Holdings Ltd., 144A, Reg S | Specialty Retail | 24342 | 28612 |
| &nbsp;&nbsp;&nbsp; Pick 'N Pay Stores Ltd. | Food & Staples Retailing | 4689 | 15650 |
| &nbsp;&nbsp;&nbsp; Redefine Properties Ltd. | Equity Real Estate Investment Trusts (REITs) | 89349 | 22213 |
| &nbsp;&nbsp;&nbsp; Remgro Ltd. | Diversified Financial Services | 6882 | 53806 |
| &nbsp;&nbsp;&nbsp; Resilient REIT Ltd. | Equity Real Estate Investment Trusts (REITs) | 4074 | 12870 |
| &nbsp;&nbsp;&nbsp; Royal Bafokeng Platinum Ltd. | Metals & Mining | 1011 | 9798 |
| &nbsp;&nbsp;&nbsp; Sanlam Ltd. | Insurance | 23757 | 68025 |
| &nbsp;&nbsp;&nbsp; Santam Ltd. | Insurance | 552 | 8320 |
| &nbsp;&nbsp; <sup>b</sup> Sappi Ltd. | Paper & Forest Products | 7689 | 22251 |
| &nbsp;&nbsp;&nbsp; Sasol Ltd. | Chemicals | 7548 | 119521 |
| &nbsp;&nbsp;&nbsp; Shoprite Holdings Ltd. | Food & Staples Retailing | 6567 | 87226 |
| &nbsp;&nbsp;&nbsp; Sibanye Stillwater Ltd. | Metals & Mining | 37911 | 99640 |
| &nbsp;&nbsp;&nbsp; SPAR Group Ltd. | Food & Staples Retailing | 2604 | 17370 |
| &nbsp;&nbsp;&nbsp; Standard Bank Group Ltd. | Banks | 17982 | 177326 |
| &nbsp;&nbsp;&nbsp; Tiger Brands Ltd. | Food Products | 2130 | 26291 |
| &nbsp;&nbsp;&nbsp; Transaction Capital Ltd. | Consumer Finance | 7944 | 15454 |
| &nbsp;&nbsp;&nbsp; Truworths International Ltd. | Specialty Retail | 4980 | 16098 |
| &nbsp;&nbsp;&nbsp; Vodacom Group Ltd. | Wireless Telecommunication Services | 8064 | 58152 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Woolworths Holdings Ltd. | &nbsp;&nbsp;&nbsp; Woolworths Holdings Ltd. | Multiline Retail | 12645 | 49369 |
|  |  |  |  | 3339261 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $3,729,388) 100.0%** | &nbsp;&nbsp;&nbsp; **Total Investments (Cost $3,729,388) 100.0%** |  |  | 3412621 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** | &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | (794) |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** | &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $3411827 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. | <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $37,108, representing 1.1% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $37,108, representing 1.1% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $37,108, representing 1.1% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $37,108, representing 1.1% of net assets. |  |
| <sup>b</sup>Non-income producing. | <sup>b</sup>Non-income producing. |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |
| **REIT** | – Real Estate Investment Trust |  |  |  |

---

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Franklin FTSE South Korea ETF** | **Industry** | **Shares** |  |
| **Common Stocks 94.7%** |  |  |  |
| **South Korea 94.7%** |  |  |  |
| <sup>a</sup> Alteogen Inc., A | Biotechnology | 6528 | $197466.0 |
| Amorepacific Corp., H | Personal Products | 5632 | 612416.0 |
| AMOREPACIFIC Group, A | Personal Products | 5632 | 155442.0 |
| BGF retail Co. Ltd. | Food & Staples Retailing | 1216 | 202426.0 |
| BNK Financial Group Inc., H | Banks | 56512 | 290493.0 |
| Celltrion Healthcare Co. Ltd., A | Health Care Providers & Services | 19200 | 880664.0 |
| Celltrion Inc., A | Biotechnology | 21376 | 2713205.0 |
| <sup>a</sup> Celltrion Pharm Inc., A | Pharmaceuticals | 3904 | 206546.0 |
| Cheil Worldwide Inc., A | Media | 13376 | 243825.0 |
| CJ CheilJedang Corp., A | Food Products | 1536 | 462197.0 |
| CJ Corp., A | Industrial Conglomerates | 2496 | 166005.0 |
| CJ ENM Co. Ltd., A | Internet & Catalog Retail | 1984 | 164274.0 |
| <sup>a</sup> CJ Logistics Corp., A | Road & Rail | 1600 | 118561.0 |
| Coway Co. Ltd. | Household Durables | 10944 | 483804.0 |
| <sup>a</sup> Daewoo Engineering & Construction Co. Ltd., A | Construction & Engineering | 34880 | 115301.0 |
| <sup>a</sup> Daewoo Shipbuilding & Marine Engineering Co. |  |  |  |
| Ltd., A | Machinery | 9408 | 140990.0 |
| DB Insurance Co. Ltd., A | Insurance | 8640 | 446178.0 |
| DGB Financial Group Inc., A | Banks | 29568 | 163448.0 |
| DL E&C Co. Ltd., A | Construction & Engineering | 5952 | 158861.0 |
| DL Holdings Co. Ltd., A | Construction & Engineering | 2304 | 107866.0 |
| Dongsuh Companies Inc., A | Food & Staples Retailing | 5952 | 95081.0 |
| Doosan Bobcat Inc., A | Machinery | 4736 | 129589.0 |
| <sup>a</sup> Doosan Enerbility Co. Ltd., H | Electrical Equipment | 81216 | 989107.0 |
| Ecopro BM Co. Ltd. | Electrical Equipment | 7616 | 554712.0 |
| <sup>a</sup> E-MART Inc., A | Food & Staples Retailing | 3776 | 292644.0 |
| F&F Co. Ltd. / New | Textiles, Apparel & Luxury Goods | 3072 | 351051.0 |
| Fila Holdings Corp. | Textiles, Apparel & Luxury Goods | 9920 | 260846.0 |
| Green Cross Corp. | Biotechnology | 1024 | 104870.0 |
| GS Engineering & Construction Corp. | Construction & Engineering | 11968 | 200177.0 |
| <sup>a</sup> GS Holdings Corp. | Oil, Gas & Consumable Fuels | 9856 | 341394.0 |
| GS Retail Co. Ltd. | Food & Staples Retailing | 7488 | 166696.0 |
| Hana Financial Group Inc. | Banks | 55872 | 1857982.0 |
| <sup>a</sup> Hanjin Kal Corp. | Airlines | 4160 | 123204.0 |
| Hankook Tire & Technology Co. Ltd. | Auto Components | 14272 | 351580.0 |
| Hanmi Pharm Co. Ltd. | Pharmaceuticals | 1472 | 346901.0 |
| Hanmi Science Co. Ltd. | Pharmaceuticals | 2872 | 73702.0 |
| Hanon Systems | Auto Components | 31104 | 198997.0 |
| Hanssem Co. Ltd. | Household Durables | 1664 | 58691.0 |
| Hanwha Aerospace Co. Ltd. | Aerospace & Defense | 6656 | 387411.0 |
| Hanwha Corp. | Industrial Conglomerates | 8128 | 164874.0 |
| Hanwha Corp. | Industrial Conglomerates | 4480 | 49069.0 |
| <sup>a</sup> Hanwha Life Insurance Co. Ltd. | Insurance | 54208 | 118747.0 |
| <sup>a</sup> Hanwha Solutions Corp. | Chemicals | 22272 | 757371.0 |
| HD Hyundai Co. Ltd. | Machinery | 9728 | 439279.0 |
| Hite Jinro Co. Ltd. | Beverages | 5824 | 117678.0 |
| HL Mando Co. Ltd. | Auto Components | 6336 | 201930.0 |
| <sup>a</sup> HLB Inc. | Leisure Products | 19584 | 439846.0 |
| HMM Co. Ltd. | Marine | 56576 | 874702.0 |
| Hotel Shilla Co. Ltd. | Specialty Retail | 6016 | 395358.0 |
| <sup>a</sup> HYBE Co. Ltd. | Entertainment | 3520 | 482974.0 |
| Hyundai Department Store Co. Ltd. | Multiline Retail | 2880 | 134377.0 |
| <sup>a</sup> Hyundai Doosan Infracore Co. Ltd. | Machinery | 26176 | 165605.0 |
| Hyundai Engineering & Construction Co. Ltd. | Construction & Engineering | 14080 | 388606.0 |
| Hyundai Glovis Co. Ltd. | Air Freight & Logistics | 3584 | 463412.0 |
| <sup>a</sup> Hyundai Heavy Industries Co. Ltd. | Machinery | 2816 | 258328.0 |
| Hyundai Marine & Fire Insurance Co. Ltd. | Insurance | 11520 | 268299.0 |
| <sup>a</sup> Hyundai Mipo Dockyard Co. Ltd. | Machinery | 3968 | 265161.0 |
| Hyundai Mobis Co. Ltd. | Auto Components | 11904 | 1887507.0 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Hyundai Motor Co. | Automobiles | 27008 | 3225155 |
| &nbsp;&nbsp;&nbsp; Hyundai Steel Co. | Metals & Mining | 14528 | 351567 |
| &nbsp;&nbsp;&nbsp; Hyundai Wia Corp. | Auto Components | 3008 | 117632 |
| &nbsp;&nbsp;&nbsp; Iljin Materials Co. Ltd. | Electronic Equipment, Instruments & Components | 3328 | 136594 |
| &nbsp;&nbsp; <sup>a</sup> Industrial Bank of Korea | Banks | 49088 | 381213 |
| &nbsp;&nbsp; <sup>a</sup> Kakao Corp. | Interactive Media & Services | 58688 | 2464478 |
| &nbsp;&nbsp; <sup>a</sup> Kakao Games Corp. | Entertainment | 5632 | 198868 |
| &nbsp;&nbsp; <sup>a</sup> KakaoBank Corp. | Banks | 32960 | 633395 |
| &nbsp;&nbsp; <sup>a</sup> Kakaopay Corp. | IT Services | 4032 | 172823 |
| &nbsp;&nbsp; <sup>a</sup> Kangwon Land Inc. | Hotels, Restaurants & Leisure | 20608 | 378099 |
| &nbsp;&nbsp;&nbsp; KB Financial Group Inc. | Banks | 75328 | 2889212 |
| &nbsp;&nbsp;&nbsp; KCC Corp. | Building Products | 832 | 134554 |
| &nbsp;&nbsp;&nbsp; KEPCO Plant Service & Engineering Co. Ltd. | Commercial Services & Supplies | 4160 | 109223 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | Automobiles | 49984 | 2344050 |
| &nbsp;&nbsp;&nbsp; Korea Aerospace Industries Ltd. | Aerospace & Defense | 13632 | 548730 |
| &nbsp;&nbsp; <sup>a</sup> Korea Electric Power Corp. | Electric Utilities | 49408 | 851795 |
| &nbsp;&nbsp;&nbsp; Korea Gas Corp. | Gas Utilities | 4928 | 141078 |
| &nbsp;&nbsp;&nbsp; Korea Investment Holdings Co. Ltd. | Capital Markets | 7360 | 310232 |
| &nbsp;&nbsp; <sup>a</sup> Korea Shipbuilding & Offshore Engineering Co. |  |  |  |
| Ltd. | Machinery | 8384 | 468761 |
| &nbsp;&nbsp;&nbsp; Korea Zinc Co. Ltd. | Metals & Mining | 1856 | 827824 |
| &nbsp;&nbsp; <sup>a</sup> Korean Air Lines Co. Ltd. | Airlines | 35840 | 650477 |
| &nbsp;&nbsp; <sup>a</sup> Krafton Inc. | Entertainment | 5696 | 756764 |
| &nbsp;&nbsp;&nbsp; KT&G Corp. | Tobacco | 20800 | 1505101 |
| &nbsp;&nbsp;&nbsp; Kumho Petrochemical Co. Ltd. | Chemicals | 3264 | 325238 |
| &nbsp;&nbsp; <sup>a</sup> L&F Co. Ltd. | Electronic Equipment, Instruments & Components | 4544 | 623475 |
| &nbsp;&nbsp;&nbsp; LG Chem Ltd. | Chemicals | 9024 | 4281851 |
| &nbsp;&nbsp;&nbsp; LG Corp. | Industrial Conglomerates | 17216 | 1063321 |
| &nbsp;&nbsp;&nbsp; LG Display Co. Ltd. | Electronic Equipment, Instruments & Components | 43456 | 427859 |
| &nbsp;&nbsp;&nbsp; LG Electronics Inc. | Household Durables | 20928 | 1431611 |
| &nbsp;&nbsp; <sup>a</sup> LG Energy Solution Ltd. | Electrical Equipment | 6720 | 2314401 |
| &nbsp;&nbsp;&nbsp; LG H&H Co. Ltd. | Personal Products | 1728 | 986648 |
| &nbsp;&nbsp;&nbsp; LG Innotek Co. Ltd. | Electronic Equipment, Instruments & Components | 2752 | 549529 |
| &nbsp;&nbsp;&nbsp; LG Uplus Corp. | Diversified Telecommunication Services | 40896 | 357375 |
| &nbsp;&nbsp;&nbsp; Lotte Chemical Corp. | Chemicals | 3204 | 452285 |
| &nbsp;&nbsp;&nbsp; Lotte Chilsung Beverage Co. Ltd. | Beverages | 576 | 80171 |
| &nbsp;&nbsp;&nbsp; Lotte Corp. | Industrial Conglomerates | 5056 | 123151 |
| &nbsp;&nbsp;&nbsp; LOTTE Fine Chemical Co. Ltd. | Chemicals | 3392 | 152097 |
| &nbsp;&nbsp;&nbsp; Lotte Shopping Co. Ltd. | Multiline Retail | 2176 | 156596 |
| &nbsp;&nbsp;&nbsp; LS Corp. | Electrical Equipment | 3392 | 186969 |
| &nbsp;&nbsp;&nbsp; Meritz Financial Group Inc. | Diversified Financial Services | 4992 | 168571 |
| &nbsp;&nbsp;&nbsp; Mirae Asset Securities Co. Ltd. | Capital Markets | 50688 | 243719 |
| &nbsp;&nbsp;&nbsp; Mirae Asset Securities Co. Ltd. | Capital Markets | 27136 | 76826 |
| &nbsp;&nbsp;&nbsp; NAVER Corp. | Interactive Media & Services | 27968 | 3925915 |
| &nbsp;&nbsp;&nbsp; NCSoft Corp. | Entertainment | 3072 | 1088380 |
| &nbsp;&nbsp; <sup>b</sup> Netmarble Corp., 144A | Software | 3264 | 155908 |
| &nbsp;&nbsp;&nbsp; NH Investment & Securities Co. Ltd. | Capital Markets | 26176 | 181545 |
| &nbsp;&nbsp; <sup>a</sup> NHN Corp. | Software | 3072 | 60493 |
| &nbsp;&nbsp;&nbsp; NongShim Co. Ltd. | Food Products | 640 | 180688 |
| &nbsp;&nbsp; <sup>a</sup> OCI Co. Ltd. | Chemicals | 3520 | 224924 |
| &nbsp;&nbsp;&nbsp; Orion Corp/Republic of Korea | Food Products | 4224 | 427578 |
| &nbsp;&nbsp;&nbsp; Ottogi Corp. | Food Products | 256 | 96367 |
| &nbsp;&nbsp;&nbsp; Pan Ocean Co. Ltd. | Marine | 36160 | 163857 |
| &nbsp;&nbsp; <sup>a</sup> Paradise Co. Ltd. | Hotels, Restaurants & Leisure | 8960 | 124710 |
| &nbsp;&nbsp; <sup>a</sup> Pearl Abyss Corp. | Entertainment | 5952 | 197459 |
| &nbsp;&nbsp;&nbsp; POSCO Chemical Co. Ltd. | Construction Materials | 5312 | 756157 |
| &nbsp;&nbsp;&nbsp; POSCO Holdings Inc. | Metals & Mining | 14528 | 3176743 |
| &nbsp;&nbsp;&nbsp; Posco International Corp. | Trading Companies & Distributors | 9472 | 169290 |
| &nbsp;&nbsp;&nbsp; S-1 Corp. | Commercial Services & Supplies | 3648 | 171077 |
| <sup>a,b</sup> Samsung Biologics Co. Ltd., 144A | Life Sciences Tools & Services | 3584 | 2326978 |
| &nbsp;&nbsp;&nbsp; Samsung C&T Corp. | Industrial Conglomerates | 16256 | 1459119 |
| &nbsp;&nbsp;&nbsp; Samsung Card Co. Ltd. | Consumer Finance | 5760 | 134605 |
| &nbsp;&nbsp;&nbsp; Samsung Electro-Mechanics Co. Ltd. | Electronic Equipment, Instruments & Components | 10816 | 1116242 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 474112 | 20734198 |
| &nbsp;&nbsp; <sup>a</sup> Samsung Engineering Co. Ltd. | Construction & Engineering | 30592 | 538293 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Samsung Fire & Marine Insurance Co. Ltd. | Insurance | 6400 | 1012258 |
| &nbsp;&nbsp; <sup>a</sup> Samsung Heavy Industries Co. Ltd. | Machinery | 119872 | 484417 |
| &nbsp;&nbsp;&nbsp; Samsung Life Insurance Co. Ltd. | Insurance | 14464 | 812134 |
| &nbsp;&nbsp; <sup>a</sup> Samsung SDI Co. Ltd. | Electronic Equipment, Instruments & Components | 10176 | 4756043 |
| &nbsp;&nbsp;&nbsp; Samsung SDS Co. Ltd. | IT Services | 7104 | 691018 |
| &nbsp;&nbsp;&nbsp; Samsung Securities Co. Ltd. | Capital Markets | 12160 | 302437 |
| &nbsp;&nbsp;&nbsp; SD Biosensor Inc. | Health Care Equipment & Supplies | 6400 | 152598 |
| &nbsp;&nbsp;&nbsp; Seegene Inc. | Biotechnology | 5312 | 114264 |
| &nbsp;&nbsp; <sup>a</sup> Shin Poong Pharmaceutical Co. Ltd. | Pharmaceuticals | 6528 | 109187 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | Banks | 96640 | 2690176 |
| &nbsp;&nbsp; <sup>a</sup> Shinsegae Inc. | Multiline Retail | 1344 | 233832 |
| &nbsp;&nbsp; <sup>a</sup> SK Biopharmaceuticals Co. Ltd. | Pharmaceuticals | 4736 | 270040 |
| &nbsp;&nbsp; <sup>a</sup> SK Bioscience Co. Ltd. | Biotechnology | 3840 | 223203 |
| &nbsp;&nbsp;&nbsp; SK Chemicals Co. Ltd. | Chemicals | 1920 | 111146 |
| &nbsp;&nbsp;&nbsp; SK Hynix Inc. | Semiconductors & Semiconductor Equipment | 104896 | 6221590 |
| <sup>a,b</sup> SK IE Technology Co. Ltd., 144A | Chemicals | 4992 | 209234 |
| &nbsp;&nbsp;&nbsp; SK Inc. | Industrial Conglomerates | 6976 | 1042676 |
| &nbsp;&nbsp; <sup>a</sup> SK Innovation Co. Ltd. | Oil, Gas & Consumable Fuels | 10176 | 1239307 |
| &nbsp;&nbsp;&nbsp; SK Networks Co. Ltd. | Trading Companies & Distributors | 26304 | 80503 |
| &nbsp;&nbsp; <sup>a</sup> SK Square Co. Ltd. | Semiconductors & Semiconductor Equipment | 19200 | 509419 |
| &nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd. | Wireless Telecommunication Services | 4608 | 172732 |
| &nbsp;&nbsp;&nbsp; SKC Co. Ltd. | Chemicals | 3712 | 259796 |
| &nbsp;&nbsp;&nbsp; S-Oil Corp. | Oil, Gas & Consumable Fuels | 7936 | 523418 |
| &nbsp;&nbsp;&nbsp; Solus Advanced Materials Co. Ltd. | Electronic Equipment, Instruments & Components | 2624 | 62254 |
| &nbsp;&nbsp;&nbsp; SSANGYONG C&E Co. Ltd. | Construction Materials | 21376 | 97371 |
| &nbsp;&nbsp; <sup>a</sup> Wemade Co. Ltd. | Entertainment | 3328 | 83036 |
| &nbsp;&nbsp;&nbsp; Woori Financial Group Inc. | Banks | 122880 | 1122391 |
| &nbsp;&nbsp;&nbsp; Yuhan Corp. | Pharmaceuticals | 10240 | 463209 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $130,214,655)** |  |  | 117847259 |
| &nbsp;&nbsp;&nbsp; **Preferred Stocks 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **South Korea 3.8%** |  |  |  |
| &nbsp;&nbsp; <sup>c</sup> Amorepacific Corp., 2.039%,pfd. | Personal Products | 2048 | 78227 |
| &nbsp;&nbsp; <sup>c</sup> CJ CheilJedang Corp., 1.780%,pfd. | Food Products | 256 | 34113 |
| &nbsp;&nbsp; <sup>c</sup> Hyundai Motor Co., 1.353%,pfd. | Automobiles | 6784 | 396471 |
| &nbsp;&nbsp; <sup>c</sup> Hyundai Motor Co., 6.824%,pfd. | Automobiles | 4288 | 250939 |
| &nbsp;&nbsp; <sup>c</sup> LG Chem Ltd., 4.342%, pfd. | Chemicals | 1472 | 323037 |
| &nbsp;&nbsp; <sup>c</sup> LG Electronics Inc., 2.140%,pfd. | Household Durables | 3392 | 112798 |
| &nbsp;&nbsp; <sup>c</sup> LG H&H Co. Ltd., 3.819%,pfd. | Personal Products | 384 | 95810 |
| &nbsp;&nbsp; <sup>c</sup> Samsung Electronics Co. Ltd., 2,145%, pfd. | Technology Hardware, Storage & Peripherals | 82496 | 3294621 |
| &nbsp;&nbsp; <sup>c</sup> Samsung Fire & Marine Insurance Co. Ltd., |  |  |  |
| 7.846%, pfd. | Insurance | 512 | 61950 |
| &nbsp;&nbsp; <sup>c</sup> Samsung SDI Co. Ltd., 0.379%,pfd. | Electronic Equipment, Instruments & Components | 256 | 56079 |
| &nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $5,165,174)** |  |  | 4704045 |
| &nbsp;&nbsp;&nbsp; **Right 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; **South Korea 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Lotte Chemical Corp. | Chemicals | 252 | 7077 |
| &nbsp;&nbsp;&nbsp; **Total Rights (Cost $0)** |  |  | 7077 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $135,379,829) 98.5%** |  |  | 122558381 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.5%** |  |  | 1862702 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $124421083 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $2,692,120, representing 2.2% of net assets.<br> <sup>c</sup>Variable rate security. The rate shown represents the yield at period end.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |
|  |  |  |  | **Value/Unrealized** |
|  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** |  |  |  |  |
| Kospi 200 Mini | Long 32 | $1852748 | 3/09/23 | $(52402) |
| \*As of period end. |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**Franklin FTSE Switzerland ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;**Common Stocks 98.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Switzerland 96.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;ABB Ltd. | Electrical Equipment | 54612 | $1656304 |
| <sup>a</sup> Accelleron Industries AG | Electrical Equipment | 2933 | 60692 |
| &nbsp;&nbsp;&nbsp;Adecco Group AG | Professional Services | 6498 | 213931 |
| &nbsp;&nbsp;&nbsp;Alcon Inc. | Health Care Equipment & Supplies | 18504 | 1263600 |
| &nbsp;&nbsp;&nbsp;Bachem Holding AG, B | Life Sciences Tools & Services | 1260 | 108745 |
| &nbsp;&nbsp;&nbsp;Baloise Holding AG | Insurance | 1836 | 283179 |
| &nbsp;&nbsp;&nbsp;Banque Cantonale Vaudoise | Banks | 1134 | 108779 |
| &nbsp;&nbsp;&nbsp;Barry Callebaut AG | Food Products | 147 | 290600 |
| &nbsp;&nbsp;&nbsp;Belimo Holding AG | Building Products | 378 | 179766 |
| &nbsp;&nbsp;&nbsp;BKW AG | Electric Utilities | 738 | 100905 |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG | Food Products | 84 | 856161 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA | Textiles, Apparel & Luxury Goods | 17028 | 2206720 |
| &nbsp;&nbsp;&nbsp;Clariant AG | Chemicals | 9270 | 146785 |
| &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | Capital Markets | 137394 | 410459 |
| &nbsp;&nbsp;&nbsp;DKSH Holding AG | Professional Services | 1458 | 110626 |
| &nbsp;&nbsp;&nbsp;Emmi AG | Food Products | 72 | 60934 |
| &nbsp;&nbsp;&nbsp;EMS-Chemie Holding AG | Chemicals | 290 | 196217 |
| <sup>a</sup> Flughafen Zurich AG | Transportation Infrastructure | 774 | 119714 |
| &nbsp;&nbsp;&nbsp;Geberit AG | Building Products | 1391 | 654756 |
| &nbsp;&nbsp;&nbsp;Georg Fischer AG | Machinery | 3351 | 205001 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | Chemicals | 325 | 995163 |
| &nbsp;&nbsp;&nbsp;Helvetia Holding AG | Insurance | 1422 | 165685 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group Ltd. | Capital Markets | 8514 | 495638 |
| &nbsp;&nbsp;&nbsp;Kuehne + Nagel International AG | Marine | 2034 | 473105 |
| &nbsp;&nbsp;&nbsp;Logitech International SA | Technology Hardware, Storage & Peripherals | 5814 | 358568 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG | Life Sciences Tools & Services | 2858 | 1399654 |
| &nbsp;&nbsp;&nbsp;Nestle SA | Food Products | 90072 | 10430517 |
| &nbsp;&nbsp;&nbsp;Novartis AG | Pharmaceuticals | 70776 | 6394472 |
| &nbsp;&nbsp;&nbsp;Partners Group Holding AG | Capital Markets | 908 | 801615 |
| &nbsp;&nbsp;&nbsp;PSP Swiss Property AG | Real Estate Management & Development | 1854 | 217422 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG, Bearer | Pharmaceuticals | 918 | 355611 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG, Non-Voting | Pharmaceuticals | 24228 | 7607257 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG, PC | Machinery | 1674 | 314644 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG | Machinery | 774 | 139541 |
| &nbsp;&nbsp;&nbsp;SGS SA | Professional Services | 241 | 560041 |
| &nbsp;&nbsp;&nbsp;SIG Combibloc Group AG | Containers & Packaging | 13482 | 294354 |
| &nbsp;&nbsp;&nbsp;Sika AG | Chemicals | 5562 | 1332788 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | Health Care Equipment & Supplies | 2034 | 482119 |
| &nbsp;&nbsp;&nbsp;Straumann Holding AG | Health Care Equipment & Supplies | 4361 | 497753 |
| &nbsp;&nbsp;&nbsp;Swiss Life Holding AG | Insurance | 1242 | 640062 |
| &nbsp;&nbsp;&nbsp;Swiss Prime Site AG | Real Estate Management & Development | 3096 | 268206 |
| &nbsp;&nbsp;&nbsp;Swiss Re AG | Insurance | 11808 | 1103714 |
| &nbsp;&nbsp;&nbsp;Swisscom AG | Diversified Telecommunication Services | 1044 | 571650 |
| &nbsp;&nbsp;&nbsp;Tecan Group AG | Life Sciences Tools & Services | 522 | 232677 |
| &nbsp;&nbsp;&nbsp;Temenos AG | Software | 2466 | 135241 |
| &nbsp;&nbsp;&nbsp;The Swatch Group AG | Textiles, Apparel & Luxury Goods | 1188 | 337704 |
| &nbsp;&nbsp;&nbsp;The Swatch Group AG | Textiles, Apparel & Luxury Goods | 1800 | 93463 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | Capital Markets | 103518 | 1925019 |
| <sup>b</sup> VAT Group AG, 144A | Machinery | 1044 | 285261 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | Insurance | 4896 | 2340576 |
|  |  |  | 50483394 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **United States 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Holcim AG, B | Construction Materials | 22320 | 1155082 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $53,968,884) 98.6%** |  |  | 51638476 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.4%** |  |  | 713743 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $52352219 |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $285,261, representing 0.5% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $285,261, representing 0.5% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $285,261, representing 0.5% of net assets. |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Swiss Mid Cap Future Index | Long | 6 | $691051 | 3/17/23 | $(18945) |
| \*As of period end. |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE Taiwan ETF** | **Industry** | &nbsp;&nbsp; **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **China 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Airtac International Group, A | Machinery | 11250 | $340770 |
| &nbsp;&nbsp;&nbsp; Silergy Corp. | Semiconductors & Semiconductor Equipment | 22850 | 324512 |
|  |  |  | 665282 |
| &nbsp;&nbsp;&nbsp; **Taiwan 98.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Accton Technology Corp. | Communications Equipment | 38050 | 290307 |
| &nbsp;&nbsp;&nbsp; Acer Inc., H | Technology Hardware, Storage & Peripherals | 203000 | 155542 |
| &nbsp;&nbsp;&nbsp; Advanced Energy Solution Holding Co. Ltd. | Electrical Equipment | 1800 | 37657 |
| &nbsp;&nbsp;&nbsp; Advantech Co. Ltd. | Technology Hardware, Storage & Peripherals | 29198 | 314442 |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd., A | Semiconductors & Semiconductor Equipment | 243300 | 743306 |
| &nbsp;&nbsp;&nbsp; Asia Cement Corp. | Construction Materials | 176000 | 234777 |
| &nbsp;&nbsp;&nbsp; ASMedia Technology Inc. | Semiconductors & Semiconductor Equipment | 2860 | 62345 |
| &nbsp;&nbsp;&nbsp; ASPEED Technology Inc. | Semiconductors & Semiconductor Equipment | 2250 | 123351 |
| &nbsp;&nbsp;&nbsp; Asustek Computer Inc. | Technology Hardware, Storage & Peripherals | 50540 | 441509 |
| &nbsp;&nbsp;&nbsp; AUO Corp., H | Electronic Equipment, Instruments & Components | 510000 | 248898 |
| &nbsp;&nbsp;&nbsp; Capital Securities Corp., A | Capital Markets | 141000 | 49775 |
| &nbsp;&nbsp;&nbsp; Catcher Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 49300 | 271077 |
| &nbsp;&nbsp;&nbsp; Cathay Financial Holding Co. Ltd., A | Insurance | 639552 | 832330 |
| &nbsp;&nbsp;&nbsp; Chailease Holding Co. Ltd., A | Diversified Financial Services | 98622 | 696295 |
| &nbsp;&nbsp;&nbsp; Chang Hwa Commercial Bank Ltd., A | Banks | 480033 | 267852 |
| &nbsp;&nbsp;&nbsp; Cheng Shin Rubber Industry Co. Ltd., A | Auto Components | 131300 | 144818 |
| &nbsp;&nbsp;&nbsp; Chicony Electronics Co. Ltd. | Technology Hardware, Storage & Peripherals | 44160 | 123994 |
| &nbsp;&nbsp;&nbsp; China Airlines Ltd., A | Airlines | 210000 | 129817 |
| &nbsp;&nbsp;&nbsp; China Development Financial Holding Corp., A | Banks | 1128000 | 462423 |
| &nbsp;&nbsp;&nbsp; China Motor Corp., A | Automobiles | 19080 | 31970 |
| &nbsp;&nbsp;&nbsp; China Steel Corp., A | Metals & Mining | 882000 | 855154 |
| &nbsp;&nbsp;&nbsp; Chunghwa Telecom Co. Ltd. | Diversified Telecommunication Services | 272380 | 1001413 |
| &nbsp;&nbsp;&nbsp; Compal Electronics Inc., H | Technology Hardware, Storage & Peripherals | 300000 | 224984 |
| &nbsp;&nbsp;&nbsp; CTBC Financial Holding Co. Ltd., A | Banks | 1305000 | 938345 |
| &nbsp;&nbsp;&nbsp; Delta Electronics Inc., A | Electronic Equipment, Instruments & Components | 154150 | 1436904 |
| &nbsp;&nbsp;&nbsp; E Ink Holdings Inc. | Electronic Equipment, Instruments & Components | 63300 | 331581 |
| &nbsp;&nbsp;&nbsp; E.Sun Financial Holding Co. Ltd., A | Banks | 967415 | 756986 |
| &nbsp;&nbsp;&nbsp; Eclat Textile Co. Ltd., A | Textiles, Apparel & Luxury Goods | 14700 | 236985 |
| &nbsp;&nbsp;&nbsp; eMemory Technology Inc. | Semiconductors & Semiconductor Equipment | 5028 | 218392 |
| &nbsp;&nbsp;&nbsp; Ennostar Inc., H | Semiconductors & Semiconductor Equipment | 46360 | 67499 |
| &nbsp;&nbsp;&nbsp; Eternal Materials Co. Ltd., H | Chemicals | 70585 | 71767 |
| &nbsp;&nbsp;&nbsp; Eva Airways Corp., H | Airlines | 183000 | 167606 |
| &nbsp;&nbsp;&nbsp; Evergreen Marine Corp. Taiwan Ltd. | Marine | 72000 | 381839 |
| &nbsp;&nbsp;&nbsp; Far Eastern International Bank | Banks | 171091 | 61232 |
| &nbsp;&nbsp;&nbsp; Far Eastern New Century Corp. | Industrial Conglomerates | 274666 | 285072 |
| &nbsp;&nbsp;&nbsp; Far EasTone Telecommunications Co. Ltd. | Wireless Telecommunication Services | 113000 | 242283 |
| &nbsp;&nbsp;&nbsp; Feng TAY Enterprise Co. Ltd. | Textiles, Apparel & Luxury Goods | 31680 | 212846 |
| &nbsp;&nbsp;&nbsp; First Financial Holding Co. Ltd. | Banks | 742770 | 640413 |
| &nbsp;&nbsp;&nbsp; Formosa Chemicals & Fibre Corp. | Chemicals | 244800 | 561514 |
| &nbsp;&nbsp;&nbsp; Formosa Petrochemical Corp. | Oil, Gas & Consumable Fuels | 97320 | 254260 |
| &nbsp;&nbsp;&nbsp; Formosa Plastics Corp. | Chemicals | 266740 | 753299 |
| &nbsp;&nbsp;&nbsp; Formosa Sumco Technology Corp. | Semiconductors & Semiconductor Equipment | 4080 | 18053 |
| &nbsp;&nbsp;&nbsp; Formosa Taffeta Co. Ltd. | Textiles, Apparel & Luxury Goods | 75000 | 65275 |
| &nbsp;&nbsp;&nbsp; Foxconn Technology Co. Ltd. | Technology Hardware, Storage & Peripherals | 80580 | 136067 |
| &nbsp;&nbsp;&nbsp; Fubon Financial Holding Co. Ltd. | Insurance | 528349 | 967807 |
| &nbsp;&nbsp;&nbsp; Genius Electronic Optical Co. Ltd. | Electronic Equipment, Instruments & Components | 6150 | 67132 |
| &nbsp;&nbsp;&nbsp; Giant Manufacturing Co. Ltd. | Leisure Products | 21575 | 140742 |
| &nbsp;&nbsp;&nbsp; Globalwafers Co. Ltd. | Semiconductors & Semiconductor Equipment | 15150 | 210721 |
| &nbsp;&nbsp;&nbsp; Hiwin Technologies Corp. | Machinery | 20089 | 119284 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co. Ltd. | Electronic Equipment, Instruments & Components | 854800 | 2778368 |
| &nbsp;&nbsp;&nbsp; Hotai Motor Co. Ltd. | Specialty Retail | 22550 | 431403 |
| &nbsp;&nbsp; <sup>a</sup> HTC Corp. | Technology Hardware, Storage & Peripherals | 52500 | 95142 |
| &nbsp;&nbsp;&nbsp; Hua Nan Financial Holdings Co. Ltd. | Banks | 720029 | 525928 |
| &nbsp;&nbsp;&nbsp; Innolux Corp. | Electronic Equipment, Instruments & Components | 593155 | 213251 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Inventec Corp. | Technology Hardware, Storage & Peripherals | 210000 | 179353 |
| &nbsp;&nbsp;&nbsp; Largan Precision Co. Ltd. | Electronic Equipment, Instruments & Components | 7350 | 487840 |
| &nbsp;&nbsp;&nbsp; Lite-On Technology Corp. | Technology Hardware, Storage & Peripherals | 152000 | 315518 |
| &nbsp;&nbsp;&nbsp; MediaTek Inc. | Semiconductors & Semiconductor Equipment | 106800 | 2171756 |
| &nbsp;&nbsp;&nbsp; Mega Financial Holding Co. Ltd. | Banks | 796150 | 786164 |
| &nbsp;&nbsp;&nbsp; Micro-Star International Co. Ltd. | Technology Hardware, Storage & Peripherals | 49300 | 191679 |
| &nbsp;&nbsp;&nbsp; momo.com Inc. | Internet & Catalog Retail | 4058 | 84763 |
| &nbsp;&nbsp;&nbsp; Nan Ya Plastics Corp. | Chemicals | 400810 | 925884 |
| &nbsp;&nbsp;&nbsp; Nan Ya Printed Circuit Board Corp. | Electronic Equipment, Instruments & Components | 15000 | 110784 |
| &nbsp;&nbsp;&nbsp; Nanya Technology Corp. | Semiconductors & Semiconductor Equipment | 58310 | 97134 |
| &nbsp;&nbsp;&nbsp; Nien Made Enterprise Co. Ltd. | Household Durables | 10200 | 97734 |
| &nbsp;&nbsp;&nbsp; Novatek Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 41300 | 423945 |
| <sup>a</sup> OBI Pharma Inc. | Biotechnology | 11366 | 25553 |
| <sup>a</sup> Oneness Biotech Co. Ltd. | Pharmaceuticals | 21600 | 172530 |
| &nbsp;&nbsp;&nbsp; Pegatron Corp. | Technology Hardware, Storage & Peripherals | 147000 | 303704 |
| &nbsp;&nbsp;&nbsp; Pou Chen Corp. | Textiles, Apparel & Luxury Goods | 190000 | 211417 |
| &nbsp;&nbsp;&nbsp; Powerchip Semiconductor Manufacturing Corp. | Semiconductors & Semiconductor Equipment | 205000 | 212433 |
| &nbsp;&nbsp;&nbsp; Powertech Technology Inc. | Semiconductors & Semiconductor Equipment | 48700 | 125491 |
| &nbsp;&nbsp;&nbsp; President Chain Store Corp. | Food & Staples Retailing | 40400 | 357528 |
| &nbsp;&nbsp;&nbsp; Quanta Computer Inc. | Technology Hardware, Storage & Peripherals | 191100 | 449530 |
| &nbsp;&nbsp;&nbsp; Realtek Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 33898 | 309913 |
| &nbsp;&nbsp;&nbsp; Ruentex Development Co. Ltd. | Real Estate Management & Development | 168500 | 237108 |
| &nbsp;&nbsp;&nbsp; Shin Kong Financial Holding Co. Ltd. | Insurance | 952565 | 271803 |
| &nbsp;&nbsp;&nbsp; Sino-American Silicon Products Inc. | Semiconductors & Semiconductor Equipment | 37660 | 170928 |
| &nbsp;&nbsp;&nbsp; SinoPac Financial Holdings Co. Ltd. | Banks | 765070 | 416942 |
| &nbsp;&nbsp;&nbsp; Synnex Technology International Corp. | Electronic Equipment, Instruments & Components | 96700 | 186255 |
| &nbsp;&nbsp;&nbsp; Taishin Financial Holding Co. Ltd. | Banks | 813872 | 399846 |
| &nbsp;&nbsp;&nbsp; Taiwan Business Bank | Banks | 381631 | 160795 |
| &nbsp;&nbsp;&nbsp; Taiwan Cement Corp. | Construction Materials | 451418 | 494224 |
| &nbsp;&nbsp;&nbsp; Taiwan Cooperative Financial Holding Co. Ltd. | Banks | 720000 | 609068 |
| &nbsp;&nbsp;&nbsp; Taiwan Fertilizer Co. Ltd. | Chemicals | 54000 | 93996 |
| &nbsp;&nbsp;&nbsp; Taiwan Glass Industry Corp. | Building Products | 115000 | 79509 |
| &nbsp;&nbsp;&nbsp; Taiwan High Speed Rail Corp. | Transportation Infrastructure | 149000 | 139375 |
| &nbsp;&nbsp;&nbsp; Taiwan Mobile Co. Ltd. | Wireless Telecommunication Services | 123300 | 379903 |
| &nbsp;&nbsp;&nbsp; Taiwan Secom Co. Ltd. | Commercial Services & Supplies | 20440 | 66503 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | Semiconductors & Semiconductor Equipment | 653300 | 9533115 |
| &nbsp;&nbsp;&nbsp; Teco Electric and Machinery Co. Ltd. | Electrical Equipment | 138000 | 123697 |
| &nbsp;&nbsp;&nbsp; The Shanghai Commercial & Savings Bank Ltd. | Banks | 245556 | 351930 |
| &nbsp;&nbsp;&nbsp; Transcend Information Inc. | Technology Hardware, Storage & Peripherals | 20440 | 43892 |
| &nbsp;&nbsp;&nbsp; U-Ming Marine Transport Corp. | Marine | 30000 | 47437 |
| &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. | Electronic Equipment, Instruments & Components | 90000 | 351385 |
| &nbsp;&nbsp;&nbsp; Uni-President Enterprises Corp. | Food Products | 342700 | 742588 |
| &nbsp;&nbsp;&nbsp; United Microelectronics Corp. | Semiconductors & Semiconductor Equipment | 833700 | 1103987 |
| &nbsp;&nbsp;&nbsp; Vanguard International Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 64240 | 161982 |
| &nbsp;&nbsp;&nbsp; Voltronic Power Technology Corp. | Electrical Equipment | 4650 | 233744 |
| &nbsp;&nbsp;&nbsp; Walsin Lihwa Corp. | Electrical Equipment | 245797 | 377466 |
| &nbsp;&nbsp;&nbsp; Walsin Technology Corp. | Electronic Equipment, Instruments & Components | 35440 | 91092 |
| &nbsp;&nbsp;&nbsp; Wan Hai Lines Ltd. | Marine | 65530 | 170778 |
| &nbsp;&nbsp;&nbsp; Win Semiconductors Corp. | Semiconductors & Semiconductor Equipment | 29250 | 129903 |
| &nbsp;&nbsp;&nbsp; Winbond Electronics Corp. | Semiconductors & Semiconductor Equipment | 214000 | 136468 |
| &nbsp;&nbsp;&nbsp; Wistron Corp. | Technology Hardware, Storage & Peripherals | 204000 | 195136 |
| &nbsp;&nbsp;&nbsp; Wiwynn Corp. | Technology Hardware, Storage & Peripherals | 6340 | 164402 |
| &nbsp;&nbsp;&nbsp; Yageo Corp. | Electronic Equipment, Instruments & Components | 27469 | 403069 |
| &nbsp;&nbsp;&nbsp; Yang Ming Marine Transport Corp. | Marine | 125000 | 266386 |
| &nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co. Ltd. | Capital Markets | 856406 | 604643 |
| &nbsp;&nbsp;&nbsp; Yulon Motor Co. Ltd. | Automobiles | 38911 | 78492 |
| &nbsp;&nbsp;&nbsp; Yulon Nissan Motor Co. Ltd. | Automobiles | 2100 | 12913 |
| &nbsp;&nbsp;&nbsp; Zhen Ding Technology Holding Ltd. | Electronic Equipment, Instruments & Components | 45500 | 155439 |
|  |  |  | 48358884 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **United States 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Parade Technologies Ltd. | Semiconductors & Semiconductor Equipment | 5100 | 128265 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $46,151,241) 100.0%** |  |  | 49152431 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | (10454) |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $49141977 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin FTSE United Kingdom ETF** | **Industry** | &nbsp;&nbsp; **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Australia 6.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Glencore PLC | Metals & Mining | 2685324 | $17843500 |
| &nbsp;&nbsp;&nbsp; Rio Tinto PLC | Metals & Mining | 227156 | 15842806 |
|  |  |  | 33686306 |
| &nbsp;&nbsp;&nbsp; **Bermuda 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Hiscox Ltd. | Insurance | 70196 | 919961 |
| &nbsp;&nbsp;&nbsp; **Chile 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Antofagasta PLC | Metals & Mining | 72376 | 1345529 |
| &nbsp;&nbsp;&nbsp; **Germany 0.1%** |  |  |  |
| <sup>a,b</sup> TUI AG | Hotels, Restaurants & Leisure | 253316 | 408621 |
| &nbsp;&nbsp;&nbsp; **Ireland 4.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CRH PLC | Construction Materials | 156088 | 6194147 |
| &nbsp;&nbsp;&nbsp; DCC PLC | Industrial Conglomerates | 20492 | 1005713 |
| &nbsp;&nbsp;&nbsp; Experian PLC | Professional Services | 192276 | 6506156 |
| &nbsp;&nbsp; <sup>a</sup> Flutter Entertainment PLC | Hotels, Restaurants & Leisure | 36624 | 4973812 |
| &nbsp;&nbsp;&nbsp; Smurfit Kappa Group PLC | Containers & Packaging | 54500 | 2013289 |
|  |  |  | 20693117 |
| &nbsp;&nbsp;&nbsp; **Isle Of Man 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Entain PLC | Hotels, Restaurants & Leisure | 122080 | 1940624 |
| &nbsp;&nbsp;&nbsp; **Mexico 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Fresnillo PLC | Metals & Mining | 38368 | 416207 |
| &nbsp;&nbsp;&nbsp; **Netherlands 8.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Shell PLC | Oil, Gas & Consumable Fuels | 1483272 | 41501156 |
| &nbsp;&nbsp;&nbsp; **Nigeria 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>c</sup> Airtel Africa PLC, 144A | Wireless Telecommunication Services | 225412 | 303144 |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Evraz PLC | Metals & Mining | 128818 |  |
| &nbsp;&nbsp;&nbsp; **Switzerland 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | Beverages | 40548 | 962335 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 79.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | Capital Markets | 198816 | 3208276 |
| &nbsp;&nbsp;&nbsp; abrdn PLC | Capital Markets | 426844 | 971706 |
| &nbsp;&nbsp;&nbsp; Admiral Group PLC | Insurance | 59732 | 1535470 |
| &nbsp;&nbsp;&nbsp; Anglo American PLC | Metals & Mining | 252008 | 9811143 |
| &nbsp;&nbsp;&nbsp; Ashtead Group PLC | Trading Companies & Distributors | 91996 | 5223248 |
| &nbsp;&nbsp;&nbsp; Associated British Foods PLC | Food Products | 72812 | 1380349 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | Pharmaceuticals | 308688 | 41654782 |
| &nbsp;&nbsp; <sup>c</sup> Auto Trader Group PLC, 144A | Interactive Media & Services | 192276 | 1192525 |
| &nbsp;&nbsp;&nbsp; AVEVA Group PLC | Software | 24852 | 960510 |
| &nbsp;&nbsp;&nbsp; Aviva PLC | Insurance | 583804 | 3109599 |
| &nbsp;&nbsp;&nbsp; B&M European Value Retail SA | Multiline Retail | 194892 | 964234 |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC | Aerospace & Defense | 647024 | 6662295 |
| &nbsp;&nbsp;&nbsp; Barclays PLC | Banks | 3301828 | 6296050 |
| &nbsp;&nbsp;&nbsp; Barratt Developments PLC | Household Durables | 208408 | 994754 |
| &nbsp;&nbsp;&nbsp; Bellway PLC | Household Durables | 25724 | 590246 |
| &nbsp;&nbsp;&nbsp; Berkeley Group Holdings PLC | Household Durables | 22236 | 1009190 |
| &nbsp;&nbsp;&nbsp; BP PLC | Oil, Gas & Consumable Fuels | 3743496 | 21384999 |
| &nbsp;&nbsp;&nbsp; British American Tobacco PLC | Tobacco | 468264 | 18483868 |
| &nbsp;&nbsp;&nbsp; BT Group PLC | Diversified Telecommunication Services | 1453188 | 1958679 |
| &nbsp;&nbsp;&nbsp; Bunzl PLC | Trading Companies & Distributors | 70632 | 2344136 |
| &nbsp;&nbsp;&nbsp; Burberry Group PLC | Textiles, Apparel & Luxury Goods | 80224 | 1958980 |
| &nbsp;&nbsp;&nbsp; Centrica PLC | Multi-Utilities | 1235624 | 1434608 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | Hotels, Restaurants & Leisure | 366676 | 8457608 |
| &nbsp;&nbsp; <sup>c</sup> ConvaTec Group PLC, 144A | Health Care Equipment & Supplies | 340516 | 952746 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Croda International PLC | Chemicals | 29212 | 2320588 |
| &nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals PLC | Pharmaceuticals | 23108 | 727716 |
| &nbsp;&nbsp;&nbsp; Derwent London PLC | Equity Real Estate Investment Trusts (REITs) | 23108 | 658224 |
| &nbsp;&nbsp;&nbsp; Diageo PLC | Beverages | 471316 | 20693537 |
| &nbsp;&nbsp;&nbsp; Direct Line Insurance Group PLC | Insurance | 277732 | 739328 |
| &nbsp;&nbsp;&nbsp; Dr Martens PLC | Textiles, Apparel & Luxury Goods | 117284 | 268900 |
| &nbsp;&nbsp;&nbsp; DS Smith PLC | Containers & Packaging | 268140 | 1036984 |
| &nbsp;&nbsp; <sup>a</sup> easyJet PLC | Airlines | 77608 | 303029 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC | Metals & Mining | 38368 | 808599 |
| &nbsp;&nbsp;&nbsp; Ferguson PLC | Trading Companies & Distributors | 43600 | 5475410 |
| &nbsp;&nbsp;&nbsp; GSK PLC | Pharmaceuticals | 835376 | 14446071 |
| &nbsp;&nbsp; <sup>a</sup> Haleon PLC | Personal Products | 1043784 | 4110103 |
| &nbsp;&nbsp;&nbsp; Halma PLC | Electronic Equipment, Instruments & Components | 79352 | 1884233 |
| &nbsp;&nbsp;&nbsp; Hargreaves Lansdown PLC | Capital Markets | 78916 | 812774 |
| &nbsp;&nbsp;&nbsp; Hikma Pharmaceuticals PLC | Pharmaceuticals | 33572 | 626756 |
| &nbsp;&nbsp; <sup>a</sup> HomeServe PLC | Commercial Services & Supplies | 57552 | 828675 |
| &nbsp;&nbsp;&nbsp; Howden Joinery Group PLC | Trading Companies & Distributors | 110744 | 748130 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC | Banks | 4206092 | 26091892 |
| &nbsp;&nbsp;&nbsp; IMI PLC | Machinery | 54064 | 837633 |
| &nbsp;&nbsp;&nbsp; Imperial Brands PLC | Tobacco | 197508 | 4920333 |
| &nbsp;&nbsp;&nbsp; Informa PLC | Media | 297352 | 2216215 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | Hotels, Restaurants & Leisure | 36624 | 2089970 |
| &nbsp;&nbsp;&nbsp; Intermediate Capital Group PLC | Capital Markets | 57988 | 800774 |
| &nbsp;&nbsp; <sup>a</sup> International Consolidated Airlines Group SA | Airlines | 232388 | 346182 |
| &nbsp;&nbsp;&nbsp; International Distributions Services PLC | Air Freight & Logistics | 146060 | 374232 |
| &nbsp;&nbsp;&nbsp; Intertek Group PLC | Professional Services | 33572 | 1629081 |
| &nbsp;&nbsp;&nbsp; ITV PLC | Media | 780876 | 705990 |
| &nbsp;&nbsp;&nbsp; J Sainsbury PLC | Food & Staples Retailing | 359700 | 941952 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | Specialty Retail | 518840 | 787318 |
| &nbsp;&nbsp;&nbsp; Johnson Matthey PLC | Chemicals | 37496 | 959361 |
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | Specialty Retail | 408532 | 1160250 |
| &nbsp;&nbsp;&nbsp; Land Securities Group PLC | Equity Real Estate Investment Trusts (REITs) | 154780 | 1156953 |
| &nbsp;&nbsp;&nbsp; Legal & General Group PLC | Insurance | 1238676 | 3717560 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | Banks | 14029608 | 7663492 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | Capital Markets | 76300 | 6549514 |
| &nbsp;&nbsp;&nbsp; M&G PLC | Diversified Financial Services | 453876 | 1025600 |
| &nbsp;&nbsp;&nbsp; Melrose Industries PLC | Industrial Conglomerates | 841916 | 1362137 |
| &nbsp;&nbsp;&nbsp; Mondi PLC | Paper & Forest Products | 101152 | 1715020 |
| &nbsp;&nbsp;&nbsp; National Grid PLC | Multi-Utilities | 761256 | 9133343 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | Banks | 1049452 | 3347848 |
| &nbsp;&nbsp;&nbsp; Next PLC | Multiline Retail | 25724 | 1796574 |
| <sup>a,d</sup> NMC Health PLC | Health Care Providers & Services | 3705 |  |
| &nbsp;&nbsp; <sup>a</sup> Ocado Group PLC | Food & Staples Retailing | 126876 | 941355 |
| &nbsp;&nbsp;&nbsp; Pearson PLC | Media | 149984 | 1694465 |
| &nbsp;&nbsp;&nbsp; Pennon Group PLC | Water Utilities | 54064 | 577824 |
| &nbsp;&nbsp;&nbsp; Persimmon PLC | Household Durables | 66272 | 970176 |
| &nbsp;&nbsp;&nbsp; Phoenix Group Holdings PLC | Insurance | 153472 | 1123546 |
| &nbsp;&nbsp;&nbsp; Prudential PLC | Insurance | 574212 | 7787866 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | Household Products | 149548 | 10350949 |
| &nbsp;&nbsp;&nbsp; RELX PLC | Professional Services | 401556 | 11051770 |
| &nbsp;&nbsp;&nbsp; Renishaw PLC | Electronic Equipment, Instruments & Components | 7104 | 313445 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | Commercial Services & Supplies | 524072 | 3202465 |
| &nbsp;&nbsp;&nbsp; Rightmove PLC | Interactive Media & Services | 171784 | 1056752 |
| &nbsp;&nbsp; <sup>a</sup> Rolls-Royce Holdings PLC | Aerospace & Defense | 1749232 | 1961070 |
| &nbsp;&nbsp;&nbsp; RS GROUP PLC | Trading Companies & Distributors | 98536 | 1061427 |
| &nbsp;&nbsp;&nbsp; Schroders PLC | Capital Markets | 166988 | 875793 |
| &nbsp;&nbsp;&nbsp; Segro PLC | Equity Real Estate Investment Trusts (REITs) | 250700 | 2302767 |
| &nbsp;&nbsp;&nbsp; Severn Trent PLC | Water Utilities | 52320 | 1668427 |
| &nbsp;&nbsp;&nbsp; Smith & Nephew PLC | Health Care Equipment & Supplies | 182248 | 2432315 |
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | Industrial Conglomerates | 74120 | 1425206 |
| &nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC | Machinery | 15260 | 1948517 |
| &nbsp;&nbsp;&nbsp; SSE PLC | Electric Utilities | 225848 | 4651036 |
| &nbsp;&nbsp;&nbsp; St. James's Place Capital PLC | Capital Markets | 111616 | 1470179 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | Banks | 495296 | 3708208 |
| &nbsp;&nbsp;&nbsp; Tate & Lyle PLC | Food Products | 83712 | 716158 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Taylor Wimpey PLC | Household Durables | 737712 | 902036 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | Food & Staples Retailing | 1529052 | 4123705 |
| &nbsp;&nbsp;&nbsp;The British Land Co. PLC | Equity Real Estate Investment Trusts (REITs) | 193584 | 920039 |
| &nbsp;&nbsp;&nbsp;The Sage Group PLC | Software | 212768 | 1908279 |
| &nbsp;&nbsp;&nbsp;The UNITE Group PLC | Equity Real Estate Investment Trusts (REITs) | 66272 | 725439 |
| &nbsp;&nbsp;&nbsp;The Weir Group PLC | Machinery | 54064 | 1085411 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | Personal Products | 530176 | 26670661 |
| &nbsp;&nbsp;&nbsp;United Utilities Group PLC | Water Utilities | 142572 | 1700250 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | Wireless Telecommunication Services | 5175320 | 5244272 |
| &nbsp;&nbsp;&nbsp;Whitbread PLC | Hotels, Restaurants & Leisure | 42292 | 1307438 |
| <sup>a</sup> Wise PLC, A | IT Services | 147368 | 997670 |
| &nbsp;&nbsp;&nbsp;WPP PLC | Media | 218872 | 2159433 |
|  |  |  | 391394631 |
| &nbsp;&nbsp;&nbsp;**Total Investments before Short-Term** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investments (Cost $548,574,059)** |  |  | 493571631 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Investments from Cash Collateral** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Received for Loaned Securities 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**United States 0.1%** |  |  |  |
| <sup>e,f</sup> Institutional Fiduciary Trust Portfolio, 3.84% | Money Market Funds | 645155 | 645155 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $645,155)** |  |  | 645155 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $549,219,214)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**99.7%** |  |  | 494216786 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.3%** |  |  | 1379511 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $495596297 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br><sup>a</sup>Non-income producing.<br><sup>b</sup>A portion or all of the security is on loan at December 31, 2022.<br><sup>c</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br>buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $2,448,415, representing 0.5% of net assets.<br><sup>d</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements.<br><sup>e</sup>See Note 3 regarding investments in affiliated management investment companies.<br><sup>f</sup>The rate shown is the annualized seven-day effective yield at period end.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| FTSE 100 Index | FTSE 100 Index | Long | 17 | $1526745 | 3/17/23 | $3456 |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **ADR** | American Depositary Receipt |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |

---

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Franklin Genomic Advancements ETF** | **Country** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| **Common Stocks 94.9%** |  |  |  |
| **Biotechnology 34.0%** |  |  |  |
| <sup>a</sup> Alnylam Pharmaceuticals Inc. | United States | 1333 | $316787 |
| <sup>a</sup> Avid Bioservices Inc. | United States | 12366 | 170280 |
| <sup>a</sup> Bavarian Nordic A/S | Denmark | 1775 | 54362 |
| <sup>a</sup> Beam Therapeutics Inc. | United States | 2006 | 78455 |
| BioNTech SE | Germany | 1603 | 240803 |
| <sup>a</sup> CRISPR Therapeutics AG | Switzerland | 1599 | 64999 |
| <sup>a</sup> Dynavax Technologies Corp. | United States | 7840 | 83418 |
| <sup>a</sup> Editas Medicine Inc. | United States | 7820 | 69363 |
| <sup>a</sup> Exact Sciences Corp. | United States | 2420 | 119814 |
| <sup>a</sup> Fate Therapeutics Inc. | United States | 2221 | 22410 |
| <sup>a</sup> Intellia Therapeutics Inc. | United States | 5314 | 185405 |
| <sup>a</sup> Ionis Pharmaceuticals Inc. | United States | 5250 | 198292 |
| <sup>a</sup> IVERIC bio Inc. | United States | 3135 | 67120 |
| <sup>a</sup> Krystal Biotech Inc. | United States | 2418 | 191554 |
| <sup>a</sup> Ligand Pharmaceuticals Inc. | United States | 939 | 62725 |
| <sup>a</sup> Moderna Inc. | United States | 2463 | 442404 |
| <sup>a</sup> PTC Therapeutics Inc. | United States | 3224 | 123060 |
| <sup>a</sup> Regeneron Pharmaceuticals Inc. | United States | 492 | 354973 |
| <sup>a</sup> Sarepta Therapeutics Inc. | United States | 2139 | 277172 |
| <sup>a</sup> Taysha Gene Therapies Inc. | United States | 176 | 398 |
| <sup>a</sup> Twist Bioscience Corp. | United States | 1449 | 34501 |
| <sup>a</sup> Veracyte Inc. | United States | 801 | 19008 |
| <sup>a</sup> Vertex Pharmaceuticals Inc. | United States | 1201 | 346825 |
| <sup>a</sup> Verve Therapeutics Inc. | United States | 2820 | 54567 |
|  |  |  | 3578695 |
| **Chemicals 3.6%** |  |  |  |
| Corteva Inc. | United States | 5360 | 315060 |
| FMC Corp. | United States | 511 | 63773 |
|  |  |  | 378833 |
| **Equity Real Estate Investment Trusts (REITs) 0.5%** |  |  |  |
| Alexandria Real Estate Equities Inc. | United States | 373 | 54335 |
| **Health Care Providers & Services 2.2%** |  |  |  |
| <sup>a</sup> Fulgent Genetics Inc. | United States | 657 | 19565 |
| <sup>a</sup> Guardant Health Inc. | United States | 1308 | 35578 |
| Laboratory Corp. of America Holdings | United States | 508 | 119624 |
| <sup>a</sup> Privia Health Group Inc. | United States | 2687 | 61022 |
|  |  |  | 235789 |
| **Health Care Technology 1.6%** |  |  |  |
| <sup>a</sup> Doximity Inc. | United States | 1719 | 57690 |
| <sup>a</sup> Schrodinger Inc. | United States | 3978 | 74349 |
| Simulations Plus Inc. | United States | 1004 | 36716 |
|  |  |  | 168755 |
| **Life Sciences Tools & Services 46.8%** |  |  |  |
| Agilent Technologies Inc. | United States | 1704 | 255004 |
| <sup>a</sup> Avantor Inc. | United States | 1209 | 25498 |
| <sup>a</sup> Bio-Rad Laboratories Inc., A | United States | 239 | 100497 |
| Bio-Techne Corp. | United States | 1460 | 121005 |
| Bruker Corp. | United States | 4171 | 285088 |
| <sup>a</sup> Charles River Laboratories International Inc. | United States | 1111 | 242087 |
| Danaher Corp. | United States | 2427 | 644174 |
| <sup>a</sup> Evotec SE | Germany | 5328 | 86773 |
| <sup>a</sup> ICON PLC | Ireland | 548 | 106449 |
| <sup>a</sup> Illumina Inc. | United States | 288 | 58234 |
| <sup>a</sup> IQVIA Holdings Inc. | United States | 543 | 111255 |
| Lonza Group AG | Switzerland | 436 | 213523 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> Medpace Holdings Inc. | United States | 2262 | 480471 |
| &nbsp;&nbsp; <sup>a</sup> Olink Holding AB | Sweden | 560 | 14213 |
| &nbsp;&nbsp; <sup>a</sup> OmniAb Inc. | United States | 3101 | 11164 |
| &nbsp;&nbsp;&nbsp; OmniAb Inc. | United States | 240 | 0 |
| &nbsp;&nbsp;&nbsp; OmniAb Inc. | United States | 240 | 0 |
| &nbsp;&nbsp; <sup>a</sup> Oxford Nanopore Technologies PLC | United Kingdom | 33333 | 98837 |
| &nbsp;&nbsp;&nbsp; PerkinElmer Inc. | United States | 1402 | 196588 |
| &nbsp;&nbsp; <sup>a</sup> QIAGEN NV | Netherlands | 5038 | 251245 |
| &nbsp;&nbsp; <sup>a</sup> Repligen Corp. | United States | 3498 | 592246 |
| <sup>a,b</sup> Samsung Biologics Co. Ltd., 144A | South Korea | 570 | 370083 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc. | United States | 1224 | 674045 |
|  |  |  | 4938479 |
| &nbsp;&nbsp;&nbsp; **Pharmaceuticals 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | United Kingdom | 3866 | 262115 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | United States | 1610 | 115840 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | United States | 366 | 133897 |
|  |  |  | 511852 |
| &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor Equipment 0.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Azenta Inc. | United States | 544 | 31672 |
| &nbsp;&nbsp;&nbsp; **Software 1.0%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Cadence Design Systems Inc. | United States | 682 | 109556 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $12,854,788)** |  |  | 10007966 |
| &nbsp;&nbsp;&nbsp; **Preferred Stock 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Health Care Equipment & Supplies 4.0%** |  |  |  |
| &nbsp;&nbsp; <sup>c</sup> Sartorius AG, 0.00%, 0.341%, pfd. | Germany | 1055 | 415925 |
| &nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $642,905)** |  |  | 415925 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $13,497,693) 98.9%** |  |  | 10423891 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.1%** |  |  | 118126 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $10542017 |

---

<sup>a</sup>Non-income producing.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $370,083, representing 3.5% of net assets.<br> <sup>c</sup>Variable rate security. The rate shown represents the yield at period end.<br>**Abbreviations**

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| **Franklin High Yield Corporate ETF** | **Country** | **Principal Amount\*** |  |
| **Corporate Bonds & Notes 90.9%** |  |  |  |
| **Airlines 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> American Airlines Inc/AAdvantage Loyalty IP Ltd., senior secured note, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 4/20/26 | United States | 2200000 | $2119484 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> United Airlines Inc., 144A, 4.375%, 4/15/26 | United States | 1700000 | 1578664 |
|  |  |  | 3698148 |
| **Automobiles & Components 3.6%** |  |  |  |
| Dana Inc., senior note, 5.625%, 6/15/28 | United States | 1700000 | 1549492 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Dornoch Debt Merger Sub Inc., 144A, 6.625%, 10/15/29 | United States | 1500000 | 1054209 |
| Goodyear Tire & Rubber Co., |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 7/15/29 | United States | 1000000 | 835450 |
| &nbsp;&nbsp;&nbsp; senior bond, 4.875%, 3/15/27 | United States | 1000000 | 916190 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Jaguar Land Rover Automotive PLC, 144A, 5.50%, 7/15/29 | United Kingdom | 2500000 | 1773765 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Real Hero Merger Sub 2 Inc., senior note, 144A, 6.25%, 2/01/29 | United States | 1300000 | 892840 |
|  |  |  | 7021946 |
| **Capital Goods 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> ATS Corp., 144A, 4.125%, 12/15/28 | Canada | 900000 | 777546 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Chart Industries Inc., 144A, 7.50%, 1/01/30 | United States | 900000 | 905886 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Cornerstone Building Brands Inc., senior note, 144A, 6.125%, 1/15/29 | United States | 1400000 | 988218 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Standard Industries Inc., 144A, 4.75%, 1/15/28 | United States | 200000 | 180270 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Stericycle Inc., Senior note, 144A, 3.875%, 1/15/29 | United States | 1100000 | 961196 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> TransDigm Inc., senior secured note, 144A, 6.25%, 3/15/26 | United States | 2400000 | 2372136 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Vertiv Group Corp., 144A, 4.125%, 11/15/28 | United States | 1600000 | 1361888 |
|  |  |  | 7547140 |
| **Chemicals 0.9%** |  |  |  |
| Celanese US Holdings LLC, 6.33%, 7/15/29 | United States | 1900000 | 1850171 |
| **Commercial & Professional Services 5.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ahern Rentals Inc., secured note, senior lien, 144A, 7.375%, 5/15/23 | United States | 900000 | 900000 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> APX Group Inc., 144A, 5.75%, 7/15/29 | United States | 1100000 | 912436 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Gartner Inc., 144A, 3.625%, 6/15/29 | United States | 600000 | 527955 |
| Grand Canyon University, unsecured note, 5.125%, 10/01/28 | United States | 1700000 | 1603593 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> H&E Equipment Services Inc., senior note, 144A, 3.875%, 12/15/28 | United States | 1900000 | 1621735 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Herc Holdings Inc., senior note, 144A, 5.50%, 7/15/27 | United States | 600000 | 560868 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> MPH Acquisition Holdings LLC, 144A, 5.75%, 11/01/28 | United States | 1600000 | 1067540 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> NESCO Holdings II Inc., secured note, 144A, 5.50%, 4/15/29 | United States | 600000 | 525780 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Prime Security Services Borrower LLC / Prime Finance Inc., senior secured |  |  |  |
| &nbsp;&nbsp;&nbsp; note, first lien, 144A, 3.375%, 8/31/27 | United States | 1800000 | 1556567 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> PROG Holdings Inc., 144A, 6.00%, 11/15/29 | United States | 800000 | 644784 |
|  |  |  | 9921258 |
| **Commercial Services 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ashtead Capital Inc., 1.50%, 8/12/26 | United Kingdom | 700000 | 598226 |
| United Rentals North America Inc., 5.50%, 5/15/27 | United States | 2100000 | 2076543 |
|  |  |  | 2674769 |
| **Construction Materials 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Camelot Return Merger Sub Inc., 144A, 8.75%, 8/01/28 | United States | 800000 | 735140 |
| **Consumer Durables & Apparel 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Ashton Woods USA LLC / Ashton Woods Finance Co., 144A, 4.625%, 4/01/30 | United States | 1200000 | 964692 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> Kontoor Brands Inc., 144A, 4.125%, 11/15/29 | United States | 1200000 | 982326 |
|  |  |  | 1947018 |
| **Consumer Services 4.4%** |  |  |  |
| <sup>a,b,c</sup> 24 Hour Fitness Worldwide Inc., senior note, 144A, 8.00%, 6/01/22 | United States | 800000 |  |
| Carnival Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 7.625%, 3/01/26 | United States | 800000 | 635492 |
| &nbsp;&nbsp;&nbsp; senior note, 144A, 5.75%, 3/01/27 | United States | 1900000 | 1359963 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> NCL Corp. Ltd., 144A, 5.875%, 3/15/26 | United States | 1300000 | 1023360 |
| &nbsp;&nbsp; <sup>a</sup> Royal Caribbean Cruises Ltd., 144A, 5.50%, 8/31/26 | United States | 1700000 | 1432250 |
| &nbsp;&nbsp; <sup>a</sup> Station Casinos LLC, 144A, 4.50%, 2/15/28 | United States | 1400000 | 1219304 |
| &nbsp;&nbsp; <sup>a</sup> Studio City Finance Ltd., senior note, 144A, 5.00%, 1/15/29 | United States | 2200000 | 1627439 |
| &nbsp;&nbsp; <sup>a</sup> Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., senior bond, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 3/01/25 | United States | 1500000 | 1427109 |
|  |  |  | 8724917 |
| **Diversified Financials 6.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Apollo Commercial Real Estate Finance Inc., 144A, 4.625%, 6/15/29 | United States | 1500000 | 1202535 |
| &nbsp;&nbsp; <sup>a</sup> Global Net Lease Inc./Global Net Lease Operating Partnership LP, senior note, |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 3.75%, 12/15/27 | United States | 1300000 | 1076942 |
| &nbsp;&nbsp; <sup>a</sup> Jane Street Group / JSG Finance Inc., 144A, 4.50%, 11/15/29 | United States | 600000 | 516867 |
| &nbsp;&nbsp; <sup>a</sup> Jefferson Capital Holdings LLC, 144A, 6.00%, 8/15/26 | United States | 1500000 | 1243275 |
| &nbsp;&nbsp; <sup>a</sup> Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 6/15/29 | United States | 1400000 | 1132362 |
| &nbsp;&nbsp; <sup>a</sup> Necessity Retail REIT Inc. / American Finance Operating Partner LP, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 9/30/28 | United States | 1600000 | 1178352 |
| &nbsp;&nbsp; <sup>a</sup> Oxford Finance LLC / Oxford Finance Co-Issuer II Inc., 144A, 6.375%, 2/01/27 | United States | 1500000 | 1398165 |
| &nbsp;&nbsp; <sup>a</sup> PRA Group Inc., 144A, 5.00%, 10/01/29 | United States | 1500000 | 1239705 |
| &nbsp;&nbsp; <sup>a</sup> VICI Properties LP / VICI Note Co. Inc., 144A, 3.875%, 2/15/29 | United States | 2000000 | 1755758 |
| &nbsp;&nbsp; <sup>a</sup> XHR LP, 144A, 4.875%, 6/01/29 | United States | 1500000 | 1230640 |
|  |  |  | 11974601 |
| **Energy 17.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Antero Resources Corp., 144A, 7.625%, 2/01/29 | United States | 601000 | 605118 |
| &nbsp;&nbsp; <sup>a</sup> Atlantica Sustainable Infrastructure PLC, 144A, 4.125%, 6/15/28 | Spain | 1400000 | 1244046 |
| &nbsp;&nbsp; <sup>a</sup> Calumet Specialty Products Partners LP / Calumet Finance Corp., 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.125%, 1/15/27 | United States | 700000 | 655375 |
| Cheniere Energy Inc., senior secured, 4.625%, 10/15/28 | United States | 1700000 | 1539847 |
| Cheniere Energy Partners LP, |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 3/01/31 | United States | 800000 | 682168 |
| &nbsp;&nbsp;&nbsp; senior note, 4.50%, 10/01/29 | United States | 1000000 | 901476 |
| &nbsp;&nbsp; <sup>a</sup> Chesapeake Energy Corp., 144A, 6.75%, 4/15/29 | United States | 2000000 | 1949900 |
| Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior note, 5.75%, 4/01/25 | United States | 700000 | 682164 |
| &nbsp;&nbsp;&nbsp; senior note, 144A, 8.00%, 4/01/29 | United States | 1200000 | 1195860 |
| &nbsp;&nbsp; <sup>a</sup> CrownRock LP / CrownRock Finance Inc., 144A, 5.00%, 5/01/29 | United States | 1000000 | 903846 |
| &nbsp;&nbsp; <sup>a</sup> CSI Compressco LP / CSI Compressco Finance Inc., senior secured note, first |  |  |  |
| &nbsp;&nbsp;&nbsp; lien, 144A, 7.50%, 4/01/25 | United States | 1000000 | 936580 |
| &nbsp;&nbsp; <sup>a</sup> DT Midstream Inc., 144A, 4.125%, 6/15/29 | United States | 1500000 | 1291552 |
| Enerflex Ltd., 9.00%, 10/15/27 | Canada | 1100000 | 1098427 |
| EnLink Midstream Partners LP, senior note, 4.15%, 6/01/25 | United States | 1900000 | 1798859 |
| &nbsp;&nbsp; <sup>a</sup> EQM Midstream Partners LP, 144A, 7.50%, 6/01/27 | United States | 1600000 | 1568936 |
| &nbsp;&nbsp; <sup>a</sup> Harbour Energy PLC, 144A, 5.50%, 10/15/26 | United Kingdom | 2300000 | 2065480 |
| Hilcorp Energy I LP / Hilcorp Finance Co., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior bond, 144A, 6.00%, 2/01/31 | United States | 400000 | 346523 |
| &nbsp;&nbsp;&nbsp; senior note, 144A, 5.75%, 2/01/29 | United States | 1700000 | 1515570 |
| &nbsp;&nbsp; <sup>a</sup> Kinetik Holdings LP, 144A, 5.875%, 6/15/30 | United States | 1600000 | 1502613 |
| &nbsp;&nbsp; <sup>a</sup> Martin Midstream Partners LP / Martin Midstream Finance Corp., senior note, |  |  |  |
| &nbsp;&nbsp;&nbsp; second lien, 144A, 11.50%, 2/28/25 | United States | 1886248 | 1889492 |
| &nbsp;&nbsp; <sup>a</sup> Nabors Industries Inc., 144A, 7.375%, 5/15/27 | United States | 1200000 | 1163820 |
| &nbsp;&nbsp; <sup>a</sup> Nabors Industries Ltd., senior note, 144A, 7.25%, 1/15/26 | United States | 600000 | 566387 |
| Occidental Petroleum Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior bond, 6.45%, 9/15/36 | United States | 800000 | 817804 |
| &nbsp;&nbsp;&nbsp; senior bond, 8.875%, 7/15/30 | United States | 1500000 | 1696027 |
| &nbsp;&nbsp; <sup>a</sup> SunCoke Energy Inc., 144A, 4.875%, 6/30/29 | United States | 1000000 | 859688 |
| Sunoco LP / Sunoco Finance Corp., senior note, 6.00%, 4/15/27 | United States | 1500000 | 1479628 |
| Venture Global Calcasieu Pass LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 4.125%, 8/15/31 | United States | 800000 | 683000 |
| &nbsp;&nbsp;&nbsp; 144A, 3.875%, 8/15/29 | United States | 900000 | 789080 |
| Weatherford International Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 8.625%, 4/30/30 | United States | 500000 | 481047 |
| &nbsp;&nbsp;&nbsp; 144A, 6.50%, 9/15/28 | United States | 1500000 | 1472610 |
|  |  |  | 34382923 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Food 0.6%** | **Food 0.6%** |  |  |  |
| <sup>a</sup> Lamb Weston Holdings Inc., 144A, 4.125%, 1/31/30 | <sup>a</sup> Lamb Weston Holdings Inc., 144A, 4.125%, 1/31/30 | United States | 1400000 | 1238370 |
| **Food, Beverage & Tobacco 0.2%** | **Food, Beverage & Tobacco 0.2%** |  |  |  |
| <sup>a</sup> Primo Water Holdings Inc., 144A, 4.375%, 4/30/29 | <sup>a</sup> Primo Water Holdings Inc., 144A, 4.375%, 4/30/29 | Canada | 400000 | 345909 |
| **Health Care Equipment & Services 3.6%** | **Health Care Equipment & Services 3.6%** |  |  |  |
| Centene Corp., senior note, 4.25%, 12/15/27 | Centene Corp., senior note, 4.25%, 12/15/27 | United States | 2000000 | 1880136 |
| CHS/Community Health Systems Inc., | CHS/Community Health Systems Inc., |  |  |  |
| a | secured note, 144A, 6.875%, 4/15/29 | United States | 1400000 | 722166 |
| a | senior secured note, 144A, 6.00%, 1/15/29 | United States | 1000000 | 837780 |
| <sup>a</sup> DaVita Inc., 144A, 4.625%, 6/01/30 | <sup>a</sup> DaVita Inc., 144A, 4.625%, 6/01/30 | United States | 2500000 | 2016354 |
| Tenet Healthcare Corp., | Tenet Healthcare Corp., |  |  |  |
| a | senior note, 144A, 6.125%, 10/01/28 | United States | 500000 | 448715 |
| a | 144A, 6.125%, 6/15/30 | United States | 1300000 | 1240922 |
|  |  |  |  | 7146073 |
| **Healthcare-Products 0.9%** | **Healthcare-Products 0.9%** |  |  |  |
| <sup>a</sup> Garden Spinco Corp., 144A, 8.625%, 7/20/30 | <sup>a</sup> Garden Spinco Corp., 144A, 8.625%, 7/20/30 | United States | 1600000 | 1698312 |
| **Household & Personal Products 1.1%** | **Household & Personal Products 1.1%** |  |  |  |
| <sup>a</sup> Spectrum Brands Inc., senior bond, 144A, 5.50%, 7/15/30 | <sup>a</sup> Spectrum Brands Inc., senior bond, 144A, 5.50%, 7/15/30 | United States | 800000 | 707331 |
| <sup>a</sup> VM Consolidated Inc., senior note, 144A, 5.50%, 4/15/29 | <sup>a</sup> VM Consolidated Inc., senior note, 144A, 5.50%, 4/15/29 | United States | 1600000 | 1411296 |
|  |  |  |  | 2118627 |
| **Insurance 0.5%** | **Insurance 0.5%** |  |  |  |
| Jones Deslauriers Insurance Management Inc., 10.50%, 12/15/30 | Jones Deslauriers Insurance Management Inc., 10.50%, 12/15/30 | Canada | 1000000 | 986154 |
| **Internet 0.4%** | **Internet 0.4%** |  |  |  |
| <sup>a</sup> Match Group Holdings II LLC, 144A, 4.625%, 6/01/28 | <sup>a</sup> Match Group Holdings II LLC, 144A, 4.625%, 6/01/28 | United States | 900000 | 803907 |
| **Leisure Time 0.3%** | **Leisure Time 0.3%** |  |  |  |
| <sup>a</sup> Carnival Holdings Bermuda Ltd., 144A, 10.375%, 5/01/28 | <sup>a</sup> Carnival Holdings Bermuda Ltd., 144A, 10.375%, 5/01/28 | United States | 600000 | 617031 |
| **Lodging 0.6%** | **Lodging 0.6%** |  |  |  |
| Las Vegas Sands Corp., 3.50%, 8/18/26 | Las Vegas Sands Corp., 3.50%, 8/18/26 | United States | 1400000 | 1265669 |
| **Materials 9.7%** | **Materials 9.7%** |  |  |  |
| <sup>a</sup> Advanced Drainage Systems Inc., 144A, 6.375%, 6/15/30 | <sup>a</sup> Advanced Drainage Systems Inc., 144A, 6.375%, 6/15/30 | United States | 1400000 | 1362214 |
| <sup>a</sup> Arcosa Inc., 144A, 4.375%, 4/15/29 | <sup>a</sup> Arcosa Inc., 144A, 4.375%, 4/15/29 | United States | 1400000 | 1215838 |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc., | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc., |  |  |  |
| a | senior note, 144A, 5.25%, 8/15/27 | Luxembourg | 200000 | 149864 |
| a | senior secured note, first lien, 144A, 5.25%, 4/30/25 | Luxembourg | 1700000 | 1620590 |
| <sup>a</sup> ASP Unifrax Holdings Inc., 144A, 5.25%, 9/30/28 | <sup>a</sup> ASP Unifrax Holdings Inc., 144A, 5.25%, 9/30/28 | United States | 400000 | 322397 |
| <sup>a</sup> Consolidated Energy Finance SA, 144A, 5.625%, 10/15/28 | <sup>a</sup> Consolidated Energy Finance SA, 144A, 5.625%, 10/15/28 | Luxembourg | 400000 | 340391 |
| <sup>a</sup> Constellium SE, 144A, 3.75%, 4/15/29 | <sup>a</sup> Constellium SE, 144A, 3.75%, 4/15/29 | France | 1700000 | 1383311 |
| <sup>a</sup> Eco Material Technologies Inc., Sr. Secured, 144A, 7.875%, 1/31/27 | <sup>a</sup> Eco Material Technologies Inc., Sr. Secured, 144A, 7.875%, 1/31/27 | United States | 1300000 | 1243526 |
| <sup>a</sup> Gates Global LLC / Gates Corp., senior note, 144A, 6.25%, 1/15/26 | <sup>a</sup> Gates Global LLC / Gates Corp., senior note, 144A, 6.25%, 1/15/26 | United States | 1600000 | 1546480 |
| <sup>a</sup> Glatfelter Corp., 144A, 4.75%, 11/15/29 | <sup>a</sup> Glatfelter Corp., 144A, 4.75%, 11/15/29 | United States | 900000 | 542340 |
| <sup>a</sup> GPD Companies Inc., senior secured note, 144A, 10.125%, 4/01/26 | <sup>a</sup> GPD Companies Inc., senior secured note, 144A, 10.125%, 4/01/26 | United States | 550000 | 469744 |
| Mauser Packaging Solutions Holding Co., | Mauser Packaging Solutions Holding Co., |  |  |  |
| a | senior note, 144A, 7.25%, 4/15/25 | United States | 500000 | 463388 |
| a | senior note, 144A, 8.50%, 4/15/24 | United States | 1600000 | 1575933 |
| <sup>a</sup> Novelis Corp., senior bond, 144A, 4.75%, 1/30/30 | <sup>a</sup> Novelis Corp., senior bond, 144A, 4.75%, 1/30/30 | United States | 1400000 | 1244348 |
| <sup>a</sup> OI European Group B.V., 144A, 4.75%, 2/15/30 | <sup>a</sup> OI European Group B.V., 144A, 4.75%, 2/15/30 | United States | 1000000 | 877145 |
| <sup>a</sup> Owens-Brockway Glass Container Inc., senior note, 144A, 5.875%, 8/15/23 | <sup>a</sup> Owens-Brockway Glass Container Inc., senior note, 144A, 5.875%, 8/15/23 | United States | 422000 | 420703 |
| <sup>a</sup> Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC, senior | <sup>a</sup> Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC, senior |  |  |  |
|  | secured note, 144A, 4.00%, 10/15/27 | United States | 1400000 | 1244111 |
| <sup>a</sup> Rain CII Carbon LLC/CII Carbon Corp., senior note, second lien, 144A, 7.25%, | <sup>a</sup> Rain CII Carbon LLC/CII Carbon Corp., senior note, second lien, 144A, 7.25%, |  |  |  |
|  | 4/01/25 | United States | 1000000 | 923080 |
| <sup>a</sup> Roller Bearing Co. of America Inc., 144A, 4.375%, 10/15/29 | <sup>a</sup> Roller Bearing Co. of America Inc., 144A, 4.375%, 10/15/29 | United States | 800000 | 692760 |
| <sup>a</sup> Trivium Packaging Finance B.V., senior secured note, 144A, 5.50%, 8/15/26 | <sup>a</sup> Trivium Packaging Finance B.V., senior secured note, 144A, 5.50%, 8/15/26 | Netherlands | 1600000 | 1470537 |
|  |  |  |  | 19108700 |
| **Media & Entertainment 11.2%** | **Media & Entertainment 11.2%** |  |  |  |
| <sup>a</sup> Banijay Entertainment SASU, senior note, 144A, 5.375%, 3/01/25 | <sup>a</sup> Banijay Entertainment SASU, senior note, 144A, 5.375%, 3/01/25 | France | 2000000 | 1893160 |
| CCO Holdings LLC / CCO Holdings Capital Corp., | CCO Holdings LLC / CCO Holdings Capital Corp., |  |  |  |
| a | senior bond, 144A, 5.375%, 6/01/29 | United States | 1300000 | 1178482 |
| a | senior bond, 144A, 4.50%, 8/15/30 | United States | 1700000 | 1408297 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> Clear Channel International B.V., senior secured note, first lien, 144A, 6.625%, |  |  |  |
| &nbsp;&nbsp;&nbsp; 8/01/25 | United States | 600000 | 573471 |
| &nbsp;&nbsp; <sup>a</sup> Clear Channel Outdoor Holdings Inc., 144A, 7.50%, 6/01/29 | United States | 1200000 | 883374 |
| &nbsp;&nbsp; <sup>a</sup> Cogent Communications Group Inc., 144A, 3.50%, 5/01/26 | United States | 1900000 | 1728406 |
| &nbsp;&nbsp; <sup>a</sup> CSC Holdings LLC, senior note, 144A, 7.50%, 4/01/28 | United States | 2500000 | 1705500 |
| Diamond Sports Group LLC / Diamond Sports Finance Co., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior note, 144A, 6.625%, 8/15/27 | United States | 900000 | 10125 |
| &nbsp;&nbsp;&nbsp; first lien, 144A, 5.375%, 8/15/26 | United States | 900000 | 106875 |
| &nbsp;&nbsp; <sup>a</sup> Directv Financing LLC / Directv Financing Co-Obligor Inc., 144A, 5.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp; 8/15/27 | United States | 1700000 | 1524152 |
| &nbsp;&nbsp; <sup>a</sup> DISH DBS Corp., 144A, 5.75%, 12/01/28 | United States | 2300000 | 1840000 |
| &nbsp;&nbsp; <sup>a</sup> Everi Holdings Inc., 144A, 5.00%, 7/15/29 | United States | 1000000 | 860267 |
| &nbsp;&nbsp; <sup>a</sup> Motion Bondco DAC, 144A, 6.625%, 11/15/27 | United Kingdom | 300000 | 258733 |
| Netflix Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior unsecured, 6.375%, 5/15/29 | United States | 600000 | 618580 |
| &nbsp;&nbsp;&nbsp; senior bond, 5.75%, 3/01/24 | United States | 1000000 | 1008640 |
| &nbsp;&nbsp;&nbsp; senior unsecured note, 5.875%, 11/15/28 | United States | 1200000 | 1219236 |
| &nbsp;&nbsp; <sup>a</sup> Northwest Fiber LLC / Northwest Fiber Finance Sub Inc., senior note, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 2/15/28 | United States | 800000 | 620427 |
| &nbsp;&nbsp; <sup>a</sup> Sinclair Television Group Inc., senior bond, 144A, 5.50%, 3/01/30 | United States | 600000 | 420519 |
| &nbsp;&nbsp; <sup>a</sup> Sirius XM Radio Inc., 144A, 4.00%, 7/15/28 | United States | 1900000 | 1657218 |
| &nbsp;&nbsp; <sup>a</sup> Univision Communications Inc., senior note, 144A, 6.625%, 6/01/27 | United States | 1400000 | 1353709 |
| &nbsp;&nbsp; <sup>a</sup> Virgin Media Secured Finance PLC, senior secured bond, 144A, 4.50%, 8/15/30 | United Kingdom | 1400000 | 1172080 |
|  |  |  | 22041251 |
| **Mining 0.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alcoa Nederland Holding B.V., 144A, 5.50%, 12/15/27 | United States | 1500000 | 1448071 |
| **Oil & Gas 1.6%** |  |  |  |
| Occidental Petroleum Corp., 5.50%, 12/01/25 | United States | 1400000 | 1397200 |
| PBF Holding Co. LLC / PBF Finance Corp., 7.25%, 6/15/25 | United States | 1800000 | 1781766 |
|  |  |  | 3178966 |
| **Pharmaceuticals 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> 1375209 BC Ltd., 144A, 9.00%, 1/30/28 | Canada | 261000 | 255454 |
| Bausch Health Cos. Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 14.00%, 10/15/30 | Canada | 92000 | 55075 |
| &nbsp;&nbsp;&nbsp; 144A, 11.00%, 9/30/28 | Canada | 465000 | 364953 |
|  |  |  | 675482 |
| **Pharmaceuticals, Biotechnology & Life Sciences 1.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Bausch Health Cos. Inc., 144A, 4.875%, 6/01/28 | United States | 1000000 | 637912 |
| <sup>a,b</sup> Par Pharmaceutical Inc., senior secured note, 144A, 7.50%, 4/01/27 | United States | 400000 | 304840 |
| Teva Pharmaceutical Finance Netherlands III B.V., |  |  |  |
| &nbsp;&nbsp;&nbsp; senior bond, 3.15%, 10/01/26 | Israel | 700000 | 613571 |
| &nbsp;&nbsp;&nbsp; 4.75%, 5/09/27 | Israel | 700000 | 633605 |
|  |  |  | 2189928 |
| **Pipelines 0.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> EnLink Midstream LLC, 144A, 6.50%, 9/01/30 | United States | 600000 | 594630 |
| **Retailing 1.9%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Fertitta Entertainment LLC / Fertitta Entertainment Finance Co. Inc., 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 1/15/30 | United States | 1100000 | 889323 |
| &nbsp;&nbsp; <sup>a</sup> Gap Inc., 144A, 3.625%, 10/01/29 | United States | 600000 | 424038 |
| &nbsp;&nbsp; <sup>a</sup> Lithia Motors Inc., senior note, 144A, 4.625%, 12/15/27 | United States | 1700000 | 1536221 |
| Macy's Retail Holdings LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 6.125%, 3/15/32 | United States | 400000 | 336800 |
| &nbsp;&nbsp;&nbsp; 144A, 5.875%, 3/15/30 | United States | 700000 | 608440 |
|  |  |  | 3794822 |
| **Software & Services 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Gartner Inc., senior note, 144A, 4.50%, 7/01/28 | United States | 1600000 | 1494560 |
| &nbsp;&nbsp; <sup>a</sup> Rocket Software Inc., senior note, 144A, 6.50%, 2/15/29 | United States | 1300000 | 1026514 |
|  |  |  | 2521074 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
|  | **Technology Hardware & Equipment 0.3%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Condor Merger Sub Inc., 144A, 7.375%, 2/15/30 | &nbsp;&nbsp;<sup>a</sup> Condor Merger Sub Inc., 144A, 7.375%, 2/15/30 | United States | 700000 | 564071 |
|  | **Telecommunication Services 1.9%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Altice France Holding SA, senior note, 144A, 10.50%, 5/15/27 | &nbsp;&nbsp;<sup>a</sup> Altice France Holding SA, senior note, 144A, 10.50%, 5/15/27 | Luxembourg | 600000 | 458790 |
| &nbsp;&nbsp;<sup>a</sup> Altice France SA, senior note, first lien, 144A, 8.125%, 2/01/27 | &nbsp;&nbsp;<sup>a</sup> Altice France SA, senior note, first lien, 144A, 8.125%, 2/01/27 | France | 1000000 | 912940 |
| &nbsp;&nbsp;<sup>a</sup> CommScope Technologies LLC, 144A, 5.00%, 3/15/27 | &nbsp;&nbsp;<sup>a</sup> CommScope Technologies LLC, 144A, 5.00%, 3/15/27 | United States | 1400000 | 953094 |
| &nbsp;&nbsp;<sup>a</sup> Iliad Holding SASU, 144A, 6.50%, 10/15/26 | &nbsp;&nbsp;<sup>a</sup> Iliad Holding SASU, 144A, 6.50%, 10/15/26 | France | 1600000 | 1486694 |
|  |  |  |  | 3811518 |
|  | **Transportation 0.8%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> First Student Bidco Inc. / First Transit Parent Inc., 144A, 4.00%, 7/31/29 | &nbsp;&nbsp;<sup>a</sup> First Student Bidco Inc. / First Transit Parent Inc., 144A, 4.00%, 7/31/29 | United States | 1800000 | 1491430 |
|  | **Utilities 5.5%** |  |  |  |
|  | Calpine Corp., |  |  |  |
| &nbsp;&nbsp;a | &nbsp;&nbsp;&nbsp;senior note, 144A, 5.125%, 3/15/28 | United States | 700000 | 626029 |
| &nbsp;&nbsp;a | &nbsp;&nbsp;&nbsp;first lien, 144A, 4.50%, 2/15/28 | United States | 1200000 | 1073020 |
| &nbsp;&nbsp;<sup>a</sup> InterGen NV, 144A, 7.00%, 6/30/23 | &nbsp;&nbsp;<sup>a</sup> InterGen NV, 144A, 7.00%, 6/30/23 | Netherlands | 2300000 | 2235965 |
| &nbsp;&nbsp;<sup>a</sup> Leeward Renewable Energy Operations LLC, 144A, 4.25%, 7/01/29 | &nbsp;&nbsp;<sup>a</sup> Leeward Renewable Energy Operations LLC, 144A, 4.25%, 7/01/29 | United States | 1800000 | 1540202 |
|  | Talen Energy Supply LLC, |  |  |  |
| a,b | &nbsp;&nbsp;&nbsp;senior note, 144A, 6.50%, 6/01/25 | United States | 1000000 | 470000 |
| a,b | &nbsp;&nbsp;&nbsp;senior note, 144A, 7.625%, 6/01/28 | United States | 1000000 | 1044395 |
| &nbsp;&nbsp;<sup>a</sup> TTM Technologies Inc., senior note, 144A, 4.00%, 3/01/29 | &nbsp;&nbsp;<sup>a</sup> TTM Technologies Inc., senior note, 144A, 4.00%, 3/01/29 | United States | 1800000 | 1546182 |
| &nbsp;&nbsp;<sup>a</sup> Vistra Operations Co. LLC, senior note, 144A, 5.50%, 9/01/26 | &nbsp;&nbsp;<sup>a</sup> Vistra Operations Co. LLC, senior note, 144A, 5.50%, 9/01/26 | United States | 2400000 | 2316114 |
|  |  |  |  | 10851907 |
|  | **Total Corporate Bonds & Notes (Cost $203,450,467)** |  |  | 178969933 |
|  | **Senior Floating Rate Interests 4.0%** |  |  |  |
|  | **Materials 1.0%** |  |  |  |
|  | Hexion Holdings Corporation, |  |  |  |
|  | &nbsp;&nbsp;&nbsp;2022 USD Term Loan, 8.935%, 3/15/29 | United States | 1094500 | 945101 |
|  | &nbsp;&nbsp;&nbsp;2022 USD 2nd Lien Term Loan, 11.859%, 3/15/30 | United States | 1186047 | 942907 |
|  |  |  |  | 1888008 |
|  | **Software & Services 1.4%** |  |  |  |
|  | Athenahealth Inc., |  |  |  |
|  | &nbsp;&nbsp;&nbsp;2022 Term Loan B, 7.821%, 2/15/29 | United States | 1446355 | 1309472 |
| &nbsp;&nbsp;d | &nbsp;&nbsp;&nbsp;2022 Delayed Draw Term Loan, TBD, 2/15/29 | United States | 246377 | 223060 |
|  | McAfee LLC, 2022 USD Term Loan B, 7.974%, 3/01/29 | United States | 1393000 | 1300463 |
|  |  |  |  | 2832995 |
|  | **Chemicals 0.7%** |  |  |  |
|  | PMHC II Inc., 2022 Term Loan B, 8.494%, 4/23/29 | United States | 1695750 | 1441828 |
|  | **Media & Entertainment 0.9%** |  |  |  |
|  | Diamond Sports Group LLC, 2022 First Priority Term Loan, 12.317%, 5/25/26 | United States | 198816 | 188917 |
|  | Fertitta Entertainment LLC, 2022 Term Loan B, 8.323%, 1/27/29 | United States | 1687250 | 1607536 |
|  |  |  |  | 1796453 |
|  | **Total Floating Rate Loans (Cost $8,856,669)** |  |  | 7959284 |
|  | **Total Investments before Short-Term** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**Investments (Cost $212,307,136)** |  |  | 186929217 |
|  | **Short-Term Investments 3.1%** |  |  |  |
|  | **U.S. Government & Agency Securities 3.1%** |  |  |  |
| &nbsp;&nbsp;<sup>e</sup> Federal Home Loan Bank Discount Notes, 01/03/23 | &nbsp;&nbsp;<sup>e</sup> Federal Home Loan Bank Discount Notes, 01/03/23 | United States | 6105000 | 6105000 |
|  | **Total Short-Term Investments** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $6,103,677)** |  |  | 6105000 |
|  | **Total Investments** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $218,410,813) 98.0%** |  |  | 193034217 |
|  | **Other Assets, less Liabilities 2.0%** |  |  | 3898587 |
|  | **Net Assets 100.0%** |  |  | $196932804 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $147,439,310, representing 74.9% of net assets.<br> <sup>b</sup>Defaulted securities.<br> <sup>c</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements.<br> <sup>d</sup>A portion or all of the security represents an unsettled loan commitment. The coupon rate is to-be determined (TBD) at the time of settlement and will be based upon a<br> reference index/floor plus a spread.<br> <sup>e</sup>The security was issued on a discount basis with no stated coupon rate.<br>**Abbreviations**<br>**Selected Portfolio**<br>**REIT** – Real Estate Investment Trust<br> **USD** – Unified/Union School District

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Franklin Intelligent Machines ETF** | **Country** | **Shares** |  |
| **Common Stocks 99.3%** |  |  |  |
| **Aerospace & Defense 2.8%** |  |  |  |
| <sup>a</sup> Axon Enterprise Inc. | United States | 1240 | $205753 |
| **Automobiles 3.3%** |  |  |  |
| <sup>a</sup> Tesla Inc. | United States | 1954 | 240694 |
| **Computers & Peripherals 4.4%** |  |  |  |
| Apple Inc. | United States | 2452 | 318588 |
| **Construction & Engineering 3.4%** |  |  |  |
| Quanta Services Inc. | United States | 1081 | 154042 |
| Valmont Industries Inc. | United States | 271 | 89612 |
|  |  |  | 243654 |
| **Electrical Equipment 0.9%** |  |  |  |
| Eaton Corp. PLC | United States | 266 | 41748 |
| <sup>a</sup> Sunrun Inc. | United States | 987 | 23708 |
|  |  |  | 65456 |
| **Electronic Equipment, Instruments & Components 9.4%** |  |  |  |
| Amphenol Corp., A | United States | 1017 | 77434 |
| Keyence Corp. | Japan | 625 | 243568 |
| <sup>a</sup> Keysight Technologies Inc. | United States | 671 | 114788 |
| <sup>a</sup> Samsung SDI Co. Ltd. | South Korea | 336 | 157039 |
| TE Connectivity Ltd. | Switzerland | 300 | 34440 |
| <sup>a</sup> Trimble Inc. | United States | 375 | 18960 |
| <sup>a</sup> Zebra Technologies Corp., A | United States | 126 | 32308 |
|  |  |  | 678537 |
| **Health Care Equipment & Supplies 12.8%** |  |  |  |
| <sup>a</sup> Dexcom Inc. | United States | 1644 | 186167 |
| <sup>a</sup> IDEXX Laboratories Inc. | United States | 312 | 127284 |
| <sup>a</sup> Insulet Corp. | United States | 578 | 170157 |
| <sup>a</sup> Intuitive Surgical Inc. | United States | 1428 | 378920 |
| ResMed Inc. | United States | 186 | 38712 |
| <sup>a</sup> Shockwave Medical Inc. | United States | 130 | 26729 |
|  |  |  | 927969 |
| **Health Care Technology 2.0%** |  |  |  |
| <sup>a</sup> Inspire Medical Systems Inc. | United States | 575 | 144831 |
| **Household Durables 0.5%** |  |  |  |
| Panasonic Holdings Corp. | Japan | 4640 | 39052 |
| **Industrial Conglomerates 2.5%** |  |  |  |
| Honeywell International Inc. | United States | 221 | 47360 |
| Roper Technologies Inc. | United States | 200 | 86418 |
| Siemens AG | Germany | 366 | 50639 |
|  |  |  | 184417 |
| **Semiconductors & Semiconductor Equipment 34.3%** |  |  |  |
| Analog Devices Inc. | United States | 996 | 163374 |
| Applied Materials Inc. | United States | 1669 | 162527 |
| ASM International NV | Netherlands | 556 | 139833 |
| ASML Holding NV | Netherlands | 631 | 344778 |
| <sup>a</sup> Enphase Energy Inc. | United States | 937 | 248268 |
| Entegris Inc. | United States | 1578 | 103501 |
| <sup>a</sup> First Solar Inc. | United States | 270 | 40443 |
| Infineon Technologies AG | Germany | 3026 | 91815 |
| KLA Corp. | United States | 221 | 83324 |
| Lam Research Corp. | United States | 173 | 72712 |
| Marvell Technology Inc. | United States | 787 | 29150 |
| Microchip Technology Inc. | United States | 611 | 42923 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | United States | 2267 | 331299 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | China | 228 | 36031 |
| &nbsp;&nbsp; <sup>a</sup> SiTime Corp. | United States | 425 | 43189 |
| &nbsp;&nbsp; <sup>a</sup> SolarEdge Technologies Inc. | United States | 236 | 66852 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | Taiwan | 2837 | 211328 |
| &nbsp;&nbsp;&nbsp; Teradyne Inc. | United States | 1804 | 157579 |
| &nbsp;&nbsp;&nbsp; Texas Instruments Inc. | United States | 447 | 73853 |
| &nbsp;&nbsp; <sup>a</sup> Wolfspeed Inc. | United States | 623 | 43012 |
|  |  |  | 2485791 |
| &nbsp;&nbsp;&nbsp; **Software 23.0%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Altair Engineering Inc. | United States | 1559 | 70888 |
| &nbsp;&nbsp; <sup>a</sup> ANSYS Inc. | United States | 615 | 148578 |
| &nbsp;&nbsp; <sup>a</sup> Asana Inc. | United States | 1514 | 20848 |
| &nbsp;&nbsp; <sup>a</sup> Atlassian Corp., A | United States | 308 | 39633 |
| &nbsp;&nbsp; <sup>a</sup> Autodesk Inc. | United States | 757 | 141461 |
| &nbsp;&nbsp;&nbsp; Bentley Systems Inc., B | United States | 1074 | 39695 |
| &nbsp;&nbsp; <sup>a</sup> Cadence Design Systems Inc. | United States | 1803 | 289634 |
| &nbsp;&nbsp;&nbsp; Constellation Software Inc. | Canada | 100 | 156017 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE | France | 2037 | 72818 |
| &nbsp;&nbsp; <sup>a</sup> Descartes Systems Group Inc. | Canada | 3307 | 230376 |
| &nbsp;&nbsp; <sup>a</sup> PTC Inc. | United States | 1291 | 154972 |
| &nbsp;&nbsp; <sup>a</sup> Synopsys Inc. | United States | 943 | 301090 |
|  |  |  | 1666010 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $7,633,657)** |  |  | 7200752 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $7,633,657) 99.3%** |  |  | 7200752 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.7%** |  |  | 47630 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $7248382 |

---

![](ftusdpoi-123122nqx174x1.jpg) <br>

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)**<br> **Franklin International Aggregate Bond ETF** | **Principal Amount\*** | **Principal Amount\*** | <br>**Value** |
| &nbsp;&nbsp;&nbsp; **Foreign Government and Agency Securities 90.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Australia 2.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Government of Australia, senior bond, 149, Reg S, 2.25%, 5/21/28 | 2500000 | AUD | $1580583 |
| &nbsp;&nbsp; <sup>a</sup> New South Wales Treasury Corp., senior bond, Series 27, Reg S, 3.00%, 5/20/27 | 1200000 | AUD | 781528 |
| <sup>a,b</sup> Queensland Treasury Corp., senior bond, 144A, Reg S, 3.25%, 8/21/29 | 1800000 | AUD | 1148238 |
| &nbsp;&nbsp; <sup>a</sup> Western Australian Treasury Corp., senior note, 26, Reg S, 3.00%, 10/21/26 | 2500000 | AUD | 1642450 |
|  |  |  | 5152799 |
| &nbsp;&nbsp;&nbsp; **Austria 3.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of Austria, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> 144A, Reg S, 1.20%, 10/20/25 | 4500000 | EUR | 4634593 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> senior bond, 144A, Reg S, 1.50%, 2/20/47 | 2500000 | EUR | 1978113 |
|  |  |  | 6612706 |
| &nbsp;&nbsp;&nbsp; **Belgium 2.6%** |  |  |  |
| <sup>a,b</sup> Government of Belgium, unsecured bond, Series 75, 144A, Reg S, 1.00%, 6/22/31 | 5500000 | EUR | 5014148 |
| &nbsp;&nbsp;&nbsp; **Canada 4.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of Canada, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 3/01/25 | 5000000 | CAD | 3490694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 6/01/30 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 6/01/37 | 2500000 | CAD | 2189199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 2.00%, 9/01/23 | 2700000 | CAD | 1961369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 2.00%, 12/01/51 | 1000000 | CAD | 561499 |
|  |  |  | 8202761 |
| &nbsp;&nbsp;&nbsp; **China 9.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Agricultural Development Bank of China, Series 2008, Series 2008, Unsecured 3.45%, 9/23/25 | 13000000 | CNY | 1921725 |
| &nbsp;&nbsp;&nbsp; China Development Bank, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior note, 2003, 3.23%, 1/10/25 | 24000000 | CNY | 3519172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior note, 2004, 3.43%, 1/14/27 | 25000000 | CNY | 3691977 |
| &nbsp;&nbsp;&nbsp; China Government Bond, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 3/11/26 | 25000000 | CNY | 3668531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 6/04/27 | 25000000 | CNY | 3639490 |
| &nbsp;&nbsp;&nbsp; Export-Import Bank of China, Series 2003, Series 2003, Unsecured 2.17%, 4/07/23 | 11000000 | CNY | 1590119 |
|  |  |  | 18031014 |
| &nbsp;&nbsp;&nbsp; **Cyprus 1.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Government of Cyprus, Reg S, 1.50%, 4/16/27 | 2100000 | EUR | 2053755 |
| &nbsp;&nbsp;&nbsp; **France 7.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; French Republic Government Bond OAT, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Reg S, 1.00%, 11/25/25 | 3500000 | EUR | 3569008 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,c</sup> Reg S, 11/25/29 | 4000000 | EUR | 3532689 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Reg S, 2.00%, 11/25/32 | 6600000 | EUR | 6447524 |
|  |  |  | 13549221 |
| &nbsp;&nbsp;&nbsp; **Germany 11.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of Germany, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,c</sup> senior bond, Reg S, 8/15/26 | 16000000 | EUR | 15685716 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Series 2007, Reg S, 4.25%, 7/04/39 | 2200000 | EUR | 2880189 |
| &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau, Senior note, 2.05%, 2/16/26 | 300000000 | JPY | 2405841 |
|  |  |  | 20971746 |
| &nbsp;&nbsp;&nbsp; **Italy 4.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Italy Treasury Bond, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> senior bond, Reg S, 1.25%, 12/01/26 | 2000000 | EUR | 1955280 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> senior unsecured bond, Reg S, 0.05%, 1/15/23 | 4400000 | EUR | 4707373 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> Series CAC, 144A, Reg S, 2.45%, 9/01/50 | 1500000 | EUR | 1070951 |
|  |  |  | 7733604 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; **Japan 19.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Development Bank of Japan Inc., senior bond, 2.30%, 3/19/26 | 1000000000 | JPY | 8074086 |
| &nbsp;&nbsp;&nbsp; Government of Japan, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 1.50%, 3/20/33 | 600000000 | JPY | 4993292 |
| senior bond, Series 155, 1.00%, 12/20/35 | 1300000000 | JPY | 10070909 |
| &nbsp;&nbsp;&nbsp; Japan Government Five Year Bond, senior bond, 142, 0.10%, 12/20/24 | 1300000000 | JPY | 9917382 |
| &nbsp;&nbsp;&nbsp; Japan Government Thirty Year Bond, senior bond, Series 65, 0.40%, 12/20/49 | 550000000 | JPY | 3188169 |
|  |  |  | 36243838 |
| &nbsp;&nbsp;&nbsp; **Mexico 0.5%** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Mexican Bonos, senior bond, 8.00%, 11/07/47 | 19000000 | MXN | 870257 |
| &nbsp;&nbsp;&nbsp; **Netherlands 1.6%** |  |  |  |
| <sup>a,b</sup> Government of the Netherlands, 144A, Reg S, 0.50%, 7/15/26 | 3000000 | EUR | 2983179 |
| &nbsp;&nbsp;&nbsp; **Poland 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Republic of Poland Government Bond, Series 1029, 2.75%, 10/25/29 | 19000000 | PLN | 3409081 |
| &nbsp;&nbsp;&nbsp; **Romania 0.8%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Government of Romania, senior bond, Reg S, 2.00%, 1/28/32 | 2100000 | EUR | 1508053 |
| &nbsp;&nbsp;&nbsp; **Spain 7.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of Spain, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> 144A, Reg S, 1.00%, 7/30/42 | 4500000 | EUR | 2952661 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>c</sup> senior note, 1/31/25 | 5500000 | EUR | 5548943 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> senior unsecured bond, 144A, Reg S, 1.25%, 10/31/30 | 5500000 | EUR | 5057180 |
|  |  |  | 13558784 |
| &nbsp;&nbsp; <sup>e</sup> **Supranational 4.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Asian Development Bank, senior bond, 339-00-1, 2.35%, 6/21/27 | 240000000 | JPY | 1982643 |
| &nbsp;&nbsp; <sup>a</sup> European Investment Bank, senior bond, Reg S, 1.90%, 1/26/26 | 330000000 | JPY | 2640863 |
| <sup>a,c</sup> European Union, Series SURE, Sr. Unsecured, MTN, Reg S, 7/04/35 | 5500000 | EUR | 3970806 |
|  |  |  | 8594312 |
| &nbsp;&nbsp;&nbsp; **Sweden 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of Sweden, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>b</sup> senior bond, Series 1060, 144A, 0.75%, 5/12/28 | 27000000 | SEK | 2365221 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a,b</sup> Series 1057, 144A, Reg S, 1.50%, 11/13/23 | 22000000 | SEK | 2083938 |
|  |  |  | 4449159 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 6.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; United Kingdom Gilt, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Reg S, 1.75%, 9/07/37 | 5500000 | GBP | 5005072 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Reg S, 3.50%, 7/22/68 | 1100000 | GBP | 1275188 |
| &nbsp;&nbsp; <sup>a</sup> United Kingdom Treasury Bond, Reg S, 4.75%, 12/07/30 | 5000000 | GBP | 6519731 |
|  |  |  | 12799991 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government and Agency Securities (Cost $200,520,676)** |  |  | 171738408 |
| &nbsp;&nbsp;&nbsp; **Corporate Bonds & Notes 4.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Denmark 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Nykredit Realkredit A/S, secured bond, Reg S, 1.00%10/01/50 | 1039905 | DKK | 110388 |
| &nbsp;&nbsp;&nbsp; **France 0.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Air Liquide Finance SA, senior note, Reg S, 1.375%4/02/30 | 500000 | EUR | 468414 |
| &nbsp;&nbsp; <sup>a</sup> Orange SA, senior note, Reg S, 1.375%3/20/28 | 1000000 | EUR | 961589 |
|  |  |  | 1430003 |
| &nbsp;&nbsp;&nbsp; **Germany 0.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Deutsche Telekom AG, senior note, Reg S, 0.875%3/25/26 | 500000 | EUR | 499200 |
| <sup>a,c</sup> Siemens Financieringsmaatschappij NV, senior note, Reg S, 2/20/26 | 500000 | EUR | 483578 |
|  |  |  | 982778 |
| &nbsp;&nbsp;&nbsp; **Romania 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Globalworth Real Estate Investments Ltd., senior note, Reg S, 3.00%3/29/25 | 300000 | EUR | 281831 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 0.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> RELX Finance BV, senior note, Reg S, 0.50%3/10/28 | 1000000 | EUR | 907165 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **United States 2.9%** |  |  |  |
| AbbVie Inc., senior note, 1.375%5/17/24 | 500000 | EUR | 521384 |
| Air Products and Chemicals Inc., senior note, 0.50%5/05/28 | 1000000 | EUR | 919339 |
| Apple Inc., senior bond, 1.625%11/10/26 | 500000 | EUR | 508975 |
| AT&T Inc., senior note, 0.25%3/04/26 | 1000000 | EUR | 960453 |
| Procter & Gamble Co., senior note, 0.50%10/25/24 | 500000 | EUR | 511298 |
| <sup>a</sup> Schlumberger Finance France SAS, senior note, Reg S, 1.00%2/18/26 | 500000 | EUR | 497112 |
| Stryker Corp., senior note, 0.25%12/03/24 | 1000000 | EUR | 1007260 |
| Verizon Communications Inc., senior note, 0.875%4/02/25 | 500000 | EUR | 504674 |
|  |  |  | 5430495 |
| **Total Corporate Bonds & Notes (Cost $10,673,844)** |  |  | 9142660 |
| **Total Investments (Cost $211,194,520) 95.1%** |  |  | 180881068 |
| **Other Assets, less Liabilities 4.9%** |  |  | 9376156 |
| **Net Assets 100.0%** |  |  | $190257224 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br> Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br> from registration. At December 31, 2022, the value of was $96,888,086, representing 50.9% of net assets.<br> <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $29,288,222, representing 15.4% of net assets.<br> <sup>c</sup>The security was issued on a discount basis with no stated coupon rate.<br> <sup>d</sup>Principal amount is stated in 100 Mexican Peso Units.<br> <sup>e</sup>A supranational organization is an entity formed by two or more central governments through international treaties.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. |  |  |
| **Forward Exchange Contracts** |  |  |  |  |  |  |  |
|  |  |  |  | **Contract** | **Settlement** | **Unrealized** | **Unrealized** |
| **Currency** | **Counterparty<sup>a</sup>** | **Type** | **Quantity** | **Amount** | **Date** | **Appreciation** | **Depreciation** |
| **OTC Forward Exchange Contracts** |  |  |  |  |  |  |  |
| Australian Dollar | CITI | Buy | 750000 | $484554 | 2/01/23 | $26407 | $— |
| Australian Dollar | CITI | Sell | 7465000 | 4798502 | 2/01/23 |  | (287266) |
| Australian Dollar | CITI | Sell | 575000 | 389681 | 2/01/23 |  | (2056) |
| Canadian Dollar | CITI | Sell | 13120000 | 9624576 | 2/01/23 |  | (71254) |
| Canadian Dollar | CITI | Sell | 1300000 | 957486 | 2/01/23 |  | (3228) |
| Chinese Yuan | CITI | Buy | 25000000 | 3541292 | 2/01/23 | 80642 |  |
| Chinese Yuan | CITI | Sell | 144200000 | 19826756 | 2/01/23 |  | (1064562) |
| Danish Krone | CITI | Sell | 1141000 | 152702 | 2/01/23 |  | (11819) |
| Euro | CITI | Buy | 4500000 | 4766613 | 2/01/23 | 57115 |  |
| Euro | CITI | Buy | 2900000 | 3038542 | 2/01/23 | 70083 |  |
| Euro | CITI | Sell | 77270000 | 77049780 | 2/01/23 |  | (5778988) |
| Euro | CITI | Sell | 6000000 | 6227712 | 2/01/23 |  | (203925) |
| Euro | CITI | Sell | 2000000 | 1986164 | 2/01/23 |  | (157716) |
| Euro | CITI | Sell | 1700000 | 1701835 | 2/01/23 |  | (120462) |
| Euro | CITI | Sell | 7100000 | 7501402 | 2/01/23 |  | (109369) |
| Great British Pound | CITI | Buy | 1250000 | 1521723 | 2/01/23 |  | (10985) |
| Great British Pound | CITI | Buy | 900000 | 1018041 | 2/01/23 | 69690 |  |
| Great British Pound | CITI | Sell | 11845968 | 13662192 | 2/01/23 |  | (654731) |
| Great British Pound | CITI | Sell | 1200000 | 1468810 | 2/01/23 | 18501 |  |
| Japanese Yen | CITI | Buy | 150000000 | 1030685 | 2/01/23 | 111354 |  |
| Japanese Yen | CITI | Sell | 5949000000 | 40959509 | 2/01/23 |  | (4333729) |
| Mexican Peso | CITI | Sell | 7600000 | 379850 | 2/01/23 |  | (7928) |
| Mexican Peso | CITI | Sell | 11000000 | 554166 | 2/01/23 |  | (7092) |
| Polish Zloty | CITI | Sell | 14050000 | 2905895 | 2/01/23 |  | (300394) |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Exchange Contracts** (continued) |  |  |  |  |  |  |  |
| **OTC Forward Exchange Contracts** (continued) |  |  |  |  |  |  |  |
| Swedish Krona | CITI | Sell | 44500000 | $4063118 | 2/01/23 | $— | $(215762) |
| &nbsp;&nbsp;&nbsp; Total Forward Exchange Contracts |  |  |  |  |  | $433792 | $(13341266) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) |  |  |  |  |  |  | $(12907474) |
| <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. |  |  |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**CAC** – Cotation Assistée en Continu<br> **CITI** – CITIBANK<br> **OAT** – Obligation Assumable by the Treasurer

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** | **FRANKLIN TEMPLETON ETF TRUST** |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp; **Franklin International Core Dividend Tilt Index ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Common Stocks 99.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Australia 10.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ampol Ltd. | Oil, Gas & Consumable Fuels | 4242 | $81353 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANZ Group Holdings Ltd. | Banks | 32214 | 516875 |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Group | Gas Utilities | 27132 | 197979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. | Hotels, Restaurants & Leisure | 1344 | 27817 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASX Ltd. | Capital Markets | 2604 | 120117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Arteria Ltd. | Transportation Infrastructure | 28098 | 125951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurizon Holdings Ltd. | Road & Rail | 43680 | 110489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bendigo & Adelaide Bank Ltd. | Banks | 13272 | 88294 |
| &nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd. | Metals & Mining | 55314 | 1711636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Challenger Ltd. | Diversified Financial Services | 7182 | 37113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cochlear Ltd. | Health Care Equipment & Supplies | 294 | 40697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coles Group Ltd. | Food & Staples Retailing | 14994 | 170012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | Banks | 12306 | 856229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Computershare Ltd. | IT Services | 3570 | 63430 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSL Ltd. | Biotechnology | 3276 | 639293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dexus | Equity Real Estate Investment Trusts (REITs) | 24402 | 128249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza Enterprises Ltd. | Hotels, Restaurants & Leisure | 1512 | 67930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Endeavour Group Ltd. | Food & Staples Retailing | 27846 | 121234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortescue Metals Group Ltd. | Metals & Mining | 35490 | 493625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glencore PLC | Metals & Mining | 41118 | 273222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodman Group | Equity Real Estate Investment Trusts (REITs) | 4578 | 53895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harvey Norman Holdings Ltd. | Multiline Retail | 14826 | 41524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Incitec Pivot Ltd. | Chemicals | 15288 | 38982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macquarie Group Ltd. | Capital Markets | 3108 | 351900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medibank Pvt Ltd. | Insurance | 60270 | 120573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mirvac Group | Equity Real Estate Investment Trusts (REITs) | 29862 | 43134 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Australia Bank Ltd. | Banks | 26082 | 531686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | Metals & Mining | 5670 | 41950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Origin Energy Ltd. | Oil, Gas & Consumable Fuels | 14994 | 78498 |
| &nbsp;&nbsp;&nbsp;&nbsp; REA Group Ltd. | Media | 462 | 34714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | Metals & Mining | 7980 | 629969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto PLC | Metals & Mining | 14574 | 1016451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Scentre Group | Real Estate Investment Trusts (REITs) | 120204 | 234767 |
| &nbsp;&nbsp;&nbsp;&nbsp; SEEK Ltd. | Professional Services | 3990 | 56687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seven Group Holdings Ltd. | Trading Companies & Distributors | 1764 | 25086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonic Healthcare Ltd. | Health Care Providers & Services | 4872 | 99019 |
| &nbsp;&nbsp;&nbsp;&nbsp; South32 Ltd. | Metals & Mining | 101850 | 276278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stockland | Real Estate Investment Trusts (REITs) | 53298 | 131203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suncorp Group Ltd. | Insurance | 2856 | 23319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telstra Group Ltd. | Diversified Telecommunication Services | 24696 | 66823 |
| &nbsp;&nbsp;&nbsp;&nbsp; The GPT Group | Equity Real Estate Investment Trusts (REITs) | 43848 | 124889 |
| &nbsp;&nbsp;&nbsp;&nbsp; TPG Telecom Ltd. | Diversified Telecommunication Services | 8736 | 28970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transurban Group | Transportation Infrastructure | 25242 | 222190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Treasury Wine Estates Ltd. | Beverages | 3444 | 31787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vicinity Ltd. | Real Estate Investment Trusts (REITs) | 86604 | 117461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wesfarmers Ltd. | Multiline Retail | 11256 | 350443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westpac Banking Corp. | Banks | 36582 | 579269 |
| &nbsp;&nbsp;&nbsp;&nbsp; WiseTech Global Ltd. | Software | 3906 | 134429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd. | Oil, Gas & Consumable Fuels | 26040 | 625836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Woolworths Group Ltd. | Food & Staples Retailing | 4788 | 108969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Worley Ltd. | Energy Equipment & Services | 2646 | 26916 |
|  |  |  | 12119162 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Austria 0.2%** |  |  |  |
| <sup>a</sup> BAWAG Group AG, 144A | Banks | 2016 | 107148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erste Group Bank AG | Banks | 2142 | 68353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Strabag SE | Construction & Engineering | 294 | 12269 |
|  |  |  | 187770 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Belgium 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ageas SA/NV | Insurance | 3696 | 163383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etablissements Franz Colruyt NV | Food & Staples Retailing | 1134 | 25779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | Diversified Financial Services | 1512 | 120348 |
| &nbsp;&nbsp;&nbsp;&nbsp; KBC Group NV | Banks | 6972 | 447047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Proximus SADP | Diversified Telecommunication Services | 3612 | 34679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solvay SA | Chemicals | 966 | 97385 |
|  |  |  | 888621 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Chile 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Antofagasta PLC | Metals & Mining | 7266 | 135081 |
| &nbsp;&nbsp;&nbsp;&nbsp; **China 0.2%** |  |  |  |
| <sup>a,b</sup> Wuxi Biologics Cayman Inc., 144A | Life Sciences Tools & Services | 23708 | 181798 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Denmark 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, A | Marine | 71 | 156615 |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S, B | Marine | 129 | 289182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coloplast A/S, B | Health Care Equipment & Supplies | 1050 | 122362 |
| &nbsp;&nbsp;&nbsp;&nbsp; DSV A/S | Air Freight & Logistics | 462 | 72703 |
| &nbsp;&nbsp; <sup>b</sup> Genmab A/S | Biotechnology | 99 | 41786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S, B | Pharmaceuticals | 12600 | 1696190 |
| &nbsp;&nbsp; <sup>a</sup> Orsted A/S, 144A | Electric Utilities | 378 | 34248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pandora A/S | Textiles, Apparel & Luxury Goods | 462 | 32363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | Electrical Equipment | 5796 | 168111 |
|  |  |  | 2613560 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Finland 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Elisa OYJ | Diversified Telecommunication Services | 3234 | 170711 |
| &nbsp;&nbsp; <sup>c</sup> Fortum OYJ, Reg S | Electric Utilities | 9618 | 159515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huhtamaki OYJ | Containers & Packaging | 756 | 25819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kesko OYJ | Food & Staples Retailing | 2436 | 53608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kesko OYJ, A | Food & Staples Retailing | 798 | 17331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kone OYJ, B | Machinery | 4536 | 233822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metso Outotec OYJ | Machinery | 2520 | 25851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neste OYJ | Oil, Gas & Consumable Fuels | 1806 | 82919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp | Banks | 73584 | 788700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orion OYJ | Pharmaceuticals | 798 | 43639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orion OYJ, A | Pharmaceuticals | 294 | 16034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sampo OYJ, A | Insurance | 4788 | 249470 |
| &nbsp;&nbsp;&nbsp;&nbsp; UPM-Kymmene OYJ | Paper & Forest Products | 1092 | 40709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | Machinery | 6216 | 52197 |
|  |  |  | 1960325 |
| &nbsp;&nbsp;&nbsp;&nbsp; **France 9.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Liquide SA | Chemicals | 672 | 94956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbus SE | Aerospace & Defense | 840 | 99528 |
| &nbsp;&nbsp; <sup>a</sup> Amundi SA, 144A | Capital Markets | 1344 | 76022 |
| &nbsp;&nbsp;&nbsp;&nbsp; AXA SA | Insurance | 17808 | 495190 |
| &nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA | Banks | 18858 | 1071720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bouygues SA | Construction & Engineering | 4746 | 142027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capgemini SE | IT Services | 588 | 97865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | Auto Components | 1638 | 45426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compagnie de Saint-Gobain | Building Products | 3150 | 153468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA | Banks | 31038 | 325655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danone SA | Food Products | 5292 | 278045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Systemes SE | Software | 4032 | 144134 |
| &nbsp;&nbsp;&nbsp;&nbsp; EDF SA | Electric Utilities | 4611 | 59053 |
| &nbsp;&nbsp;&nbsp;&nbsp; Engie SA | Multi-Utilities | 30702 | 438681 |
| &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA | Textiles, Apparel & Luxury Goods | 1428 | 257866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gecina SA | Equity Real Estate Investment Trusts (REITs) | 1134 | 115156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hermes International | Textiles, Apparel & Luxury Goods | 106 | 163471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kering SA | Textiles, Apparel & Luxury Goods | 462 | 234455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legrand SA | Electrical Equipment | 672 | 53660 |
| &nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | Personal Products | 630 | 224302 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | Textiles, Apparel & Luxury Goods | 2058 | 1493332 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Orange SA | Diversified Telecommunication Services | 44436 | 440145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pernod Ricard SA | Beverages | 756 | 148257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Safran SA | Aerospace & Defense | 126 | 15723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sanofi | Pharmaceuticals | 11592 | 1111461 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sartorius Stedim Biotech | Life Sciences Tools & Services | 252 | 81356 |
| &nbsp;&nbsp;&nbsp;&nbsp;Schneider Electric SE | Electrical Equipment | 4356 | 607709 |
| &nbsp;&nbsp;&nbsp;&nbsp;Societe Generale SA | Banks | 7560 | 189446 |
| &nbsp;&nbsp;&nbsp;&nbsp;Teleperformance | Professional Services | 420 | 99824 |
| &nbsp;&nbsp;&nbsp;&nbsp;TotalEnergies SE | Oil, Gas & Consumable Fuels | 19446 | 1217207 |
| &nbsp;&nbsp;&nbsp;&nbsp;Veolia Environnement SA | Multi-Utilities | 3402 | 87139 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vinci SA | Construction & Engineering | 3528 | 351261 |
| <sup>a,b,c</sup> Worldline SA, 144A, Reg S | IT Services | 588 | 22924 |
|  |  |  | 10436464 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Germany 7.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;adidas AG | Textiles, Apparel & Luxury Goods | 1302 | 177113 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allianz SE | Insurance | 5628 | 1206702 |
| &nbsp;&nbsp;&nbsp;&nbsp;BASF SE | Chemicals | 15288 | 756904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bayer AG | Pharmaceuticals | 8064 | 415899 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | Automobiles | 5376 | 478396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Continental AG | Auto Components | 210 | 12546 |
| <sup>a</sup> Covestro AG, 144A | Chemicals | 4536 | 176940 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daimler AG | Automobiles | 13356 | 875207 |
| <sup>a,b</sup> Delivery Hero SE, 144A | Internet & Direct Marketing Retail | 1766 | 84400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deutsche Boerse AG | Capital Markets | 1050 | 180867 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deutsche Post AG | Air Freight & Logistics | 11088 | 416308 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deutsche Telekom AG | Diversified Telecommunication Services | 25788 | 512959 |
| &nbsp;&nbsp;&nbsp;&nbsp;E.ON SE | Multi-Utilities | 43932 | 437638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Evonik Industries AG | Chemicals | 4788 | 91648 |
| &nbsp;&nbsp;&nbsp;&nbsp;GEA Group AG | Machinery | 1092 | 44520 |
| &nbsp;&nbsp;&nbsp;&nbsp;HeidelbergCement AG | Construction Materials | 336 | 19106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Infineon Technologies AG | Semiconductors & Semiconductor Equipment | 13608 | 412893 |
| &nbsp;&nbsp;&nbsp;&nbsp;Merck KGaA | Pharmaceuticals | 168 | 32435 |
| &nbsp;&nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft | &nbsp;&nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft |  |  |
| Aktiengesellschaft in Muenchen | Insurance | 1008 | 327039 |
| &nbsp;&nbsp;&nbsp;&nbsp;RWE AG | Multi-Utilities | 1974 | 87620 |
| &nbsp;&nbsp;&nbsp;&nbsp;SAP SE | Software | 7644 | 786355 |
| &nbsp;&nbsp;&nbsp;&nbsp;Siemens AG | Industrial Conglomerates | 6174 | 854224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Telefonica Deutschland Holding AG | Diversified Telecommunication Services | 21966 | 53990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vonovia SE | Real Estate Management & Development | 13776 | 323747 |
| <sup>a,b</sup> Zalando SE, 144A | Internet & Direct Marketing Retail | 672 | 23746 |
|  |  |  | 8789202 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Hong Kong 3.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AIA Group Ltd. | Insurance | 59000 | 656148 |
| &nbsp;&nbsp;&nbsp;&nbsp;CK Asset Holdings Ltd. | Real Estate Management & Development | 10700 | 65873 |
| &nbsp;&nbsp;&nbsp;&nbsp;CK Infrastructure Holdings Ltd., A | Electric Utilities | 12600 | 65947 |
| &nbsp;&nbsp;&nbsp;&nbsp;CLP Holdings Ltd. | Electric Utilities | 30500 | 222548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hang Lung Properties Ltd. | Real Estate Management & Development | 42000 | 82117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hang Seng Bank Ltd. | Banks | 8400 | 139696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Henderson Land Development Co. Ltd. | Real Estate Management & Development | 30500 | 106487 |
| &nbsp;&nbsp;&nbsp;&nbsp;HK Electric Investments & HK Electric |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments Ltd. | Electric Utilities | 63000 | 41731 |
| &nbsp;&nbsp;&nbsp;&nbsp;HKT Trust & HKT Ltd. | Diversified Telecommunication Services | 78461 | 96205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong & China Gas Co. Ltd. | Gas Utilities | 220000 | 209149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing Ltd. | Capital Markets | 6100 | 263541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jardine Matheson Holdings Ltd. | Industrial Conglomerates | 1900 | 96710 |
| &nbsp;&nbsp;&nbsp;&nbsp;Link REIT | Equity Real Estate Investment Trusts (REITs) | 46200 | 339177 |
| &nbsp;&nbsp;&nbsp;&nbsp;MTR Corp. Ltd. | Road & Rail | 14500 | 76820 |
| &nbsp;&nbsp;&nbsp;&nbsp;New World Development Co. Ltd. | Real Estate Management & Development | 29000 | 81743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power Assets Holdings Ltd. | Electric Utilities | 30500 | 167057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sino Land Co. Ltd. | Real Estate Management & Development | 72300 | 90410 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sun Hung Kai Properties Ltd. | Real Estate Management & Development | 22134 | 302873 |
| &nbsp;&nbsp;&nbsp;&nbsp;Swire Pacific Ltd., A | Real Estate Management & Development | 2000 | 17604 |
| &nbsp;&nbsp;&nbsp;&nbsp;Swire Properties Ltd. | Real Estate Management & Development | 19400 | 49314 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Techtronic Industries Co. Ltd. | Household Durables | 15870 | 177103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wharf Real Estate Investment Co. Ltd. | Real Estate Management & Development | 15644 | 91199 |
|  |  |  | 3439452 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ireland 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Experian PLC | Professional Services | 1260 | 42635 |
| &nbsp;&nbsp;&nbsp;&nbsp;James Hardie Industries PLC | Construction Materials | 1890 | 33837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Smurfit Kappa Group PLC | Containers & Packaging | 4746 | 175052 |
|  |  |  | 251524 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Isle Of Man 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Entain PLC | Hotels, Restaurants & Leisure | 1596 | 25371 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Israel 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel BM | Banks | 31416 | 260961 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bezeq The Israeli Telecommunication Corp. Ltd. | Diversified Telecommunication Services | 49812 | 85620 |
| &nbsp;&nbsp;&nbsp;&nbsp;ICL Group Ltd. | Chemicals | 15918 | 114812 |
| <sup>b</sup> Nice Ltd. | Software | 504 | 97129 |
|  |  |  | 558522 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Italy 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A2A SpA | Multi-Utilities | 34104 | 45315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assicurazioni Generali SpA | Insurance | 26418 | 468453 |
| &nbsp;&nbsp;&nbsp;&nbsp;Banca Mediolanum SpA | Diversified Financial Services | 4620 | 38450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Banco BPM SpA | Banks | 33306 | 118510 |
| &nbsp;&nbsp;&nbsp;&nbsp;DiaSorin SpA | Health Care Equipment & Supplies | 42 | 5845 |
| &nbsp;&nbsp;&nbsp;&nbsp;Enel SpA | Electric Utilities | 159348 | 855422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Eni SpA | Oil, Gas & Consumable Fuels | 39186 | 555637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ferrari NV | Automobiles | 336 | 71791 |
| &nbsp;&nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco SpA | Banks | 8526 | 141222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hera SpA | Multi-Utilities | 15750 | 42342 |
| <sup>a,c</sup> Infrastrutture Wireless Italiane SpA, 144A, Reg |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S | Diversified Telecommunication Services | 7770 | 78066 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | Banks | 279090 | 618950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mediobanca Banca di Credito Finanziario SpA | Banks | 14448 | 138530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Moncler SpA | Textiles, Apparel & Luxury Goods | 1848 | 97628 |
| <sup>a,c</sup> Poste Italiane SpA, 144A, Reg S | Insurance | 10038 | 97767 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prysmian SpA | Electrical Equipment | 798 | 29519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | Pharmaceuticals | 2142 | 88584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Snam SpA | Gas Utilities | 46494 | 224633 |
| &nbsp;&nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | Electric Utilities | 31458 | 231658 |
| &nbsp;&nbsp;&nbsp;&nbsp;UniCredit SpA | Banks | 11214 | 158841 |
| &nbsp;&nbsp;&nbsp;&nbsp;UnipolSai Assicurazioni SpA | Insurance | 9912 | 24352 |
|  |  |  | 4131515 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Japan 22.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ABC-Mart Inc. | Specialty Retail | 588 | 33289 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advance Residence Investment | Equity Real Estate Investment Trusts (REITs) | 13 | 33400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advantest Corp. | Semiconductors & Semiconductor Equipment | 4304 | 276615 |
| &nbsp;&nbsp;&nbsp;&nbsp;AEON Co. Ltd. | Food & Staples Retailing | 1800 | 37966 |
| &nbsp;&nbsp;&nbsp;&nbsp;AGC Inc. | Building Products | 2000 | 66619 |
| &nbsp;&nbsp;&nbsp;&nbsp;Aisin Corp. | Auto Components | 4200 | 112365 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asahi Group Holdings Ltd. | Beverages | 1700 | 53070 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | Chemicals | 8400 | 59932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Astellas Pharma Inc. | Pharmaceuticals | 16810 | 255631 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bridgestone Corp. | Auto Components | 7840 | 278733 |
| &nbsp;&nbsp;&nbsp;&nbsp;CANON Inc. | Technology Hardware, Storage & Peripherals | 14600 | 315967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capcom Co. Ltd. | Entertainment | 1902 | 60688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co. Ltd. | Pharmaceuticals | 4830 | 123290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Concordia Financial Group Ltd. | Banks | 5100 | 21259 |
| &nbsp;&nbsp;&nbsp;&nbsp;CyberAgent Inc. | Media | 8400 | 74358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daifuku Co. Ltd. | Machinery | 1160 | 54332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daiichi Sankyo Co. Ltd. | Pharmaceuticals | 12600 | 405851 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daikin Industries Ltd. | Building Products | 1224 | 187387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daito Trust Construction Co. Ltd. | Real Estate Management & Development | 1518 | 155775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Daiwa House Industry Co. Ltd. | Real Estate Management & Development | 5180 | 119307 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Daiwa House REIT Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 42 | 93393 |
| Daiwa Securities Group Inc. | Capital Markets | 33600 | 148462 |
| Denso Corp. | Auto Components | 5300 | 262540 |
| Dentsu Group Inc. | Media | 400 | 12566 |
| Disco Corp. | Semiconductors & Semiconductor Equipment | 658 | 188256 |
| East Japan Railway Co. | Road & Rail | 1210 | 68962 |
| Eisai Co. Ltd. | Pharmaceuticals | 2970 | 195922 |
| FANUC Corp. | Machinery | 840 | 126275 |
| Fast Retailing Co. Ltd. | Specialty Retail | 225 | 137324 |
| Fuji Electric Co. Ltd. | Electrical Equipment | 600 | 22873 |
| FUJIFILM Holdings Corp. | Technology Hardware, Storage & Peripherals | 380 | 19080 |
| Fujitsu Ltd. | IT Services | 1780 | 237635 |
| GLP J-Reit | Equity Real Estate Investment Trusts (REITs) | 45 | 51601 |
| GMO Payment Gateway Inc. | IT Services | 900 | 74486 |
| Hamamatsu Photonics K.K. | Electronic Equipment, Instruments & Components | 1200 | 57478 |
| Haseko Corp. | Household Durables | 4600 | 51353 |
| Hirose Electric Co. Ltd. | Electronic Equipment, Instruments & Components | 500 | 62905 |
| Hitachi Construction Machinery Co. Ltd. | Machinery | 2100 | 47095 |
| Hitachi Ltd. | Industrial Conglomerates | 4100 | 207913 |
| Honda Motor Co. Ltd. | Automobiles | 18500 | 425117 |
| Hoya Corp. | Health Care Equipment & Supplies | 2010 | 193543 |
| Hulic Co. Ltd. | Real Estate Management & Development | 12672 | 99882 |
| Ibiden Co. Ltd. | Electronic Equipment, Instruments & Components | 3000 | 108795 |
| Iida Group Holdings Co. Ltd. | Household Durables | 4473 | 67835 |
| Inpex Corp. | Oil, Gas & Consumable Fuels | 1000 | 10580 |
| Isuzu Motors Ltd. | Automobiles | 12600 | 147730 |
| ITOCHU Corp. | Trading Companies & Distributors | 6170 | 193875 |
| Itochu Techno-Solutions Corp. | IT Services | 2300 | 53515 |
| Japan Exchange Group Inc. | Capital Markets | 5700 | 81972 |
| Japan Metropolitan Fund Invest | Equity Real Estate Investment Trusts (REITs) | 168 | 133310 |
| Japan Post Holdings Co. Ltd. | Insurance | 5800 | 48771 |
| Japan Prime Realty Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 14 | 39312 |
| Japan Real Estate Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 14 | 61222 |
| Japan Tobacco Inc. | Tobacco | 24380 | 491683 |
| JFE Holdings Inc. | Metals & Mining | 12600 | 146679 |
| JSR Corp. | Chemicals | 1000 | 19614 |
| Kajima Corp. | Construction & Engineering | 4730 | 55063 |
| Kakaku.com Inc. | Interactive Media & Services | 2120 | 33934 |
| Kao Corp. | Personal Products | 2828 | 112631 |
| KDDI Corp. | Wireless Telecommunication Services | 11430 | 344949 |
| Keyence Corp. | Electronic Equipment, Instruments & Components | 1387 | 540525 |
| Kirin Holdings Co. Ltd. | Beverages | 8400 | 128026 |
| Koei Tecmo Holdings Co. Ltd. | Entertainment | 2396 | 43437 |
| Komatsu Ltd. | Machinery | 6500 | 141680 |
| Kubota Corp. | Machinery | 1600 | 22033 |
| Kyocera Corp. | Electronic Equipment, Instruments & Components | 1800 | 89383 |
| Kyowa Kirin Co. Ltd. | Pharmaceuticals | 1300 | 29755 |
| Kyushu Railway Co. | Road & Rail | 2800 | 62008 |
| Lasertec Corp. | Semiconductors & Semiconductor Equipment | 1554 | 256105 |
| Lawson Inc. | Food & Staples Retailing | 1325 | 50512 |
| Lixil Corp. | Building Products | 6400 | 97059 |
| M3 Inc. | Health Care Technology | 4200 | 113893 |
| Marubeni Corp. | Trading Companies & Distributors | 16800 | 192899 |
| Marui Group Co. Ltd. | Multiline Retail | 1100 | 18183 |
| Mazda Motor Corp. | Automobiles | 8400 | 63981 |
| Minebea Mitsumi Inc. | Machinery | 2000 | 29876 |
| Mitsubishi Chemical Group Corp. | Chemicals | 4200 | 21795 |
| Mitsubishi Corp. | Trading Companies & Distributors | 8900 | 288898 |
| Mitsubishi Electric Corp. | Electrical Equipment | 12600 | 125432 |
| Mitsubishi HC Capital Inc. | Diversified Financial Services | 12600 | 61976 |
| Mitsubishi Heavy Industries Ltd. | Machinery | 1000 | 39668 |
| Mitsubishi UFJ Lease & finance Co. Ltd. | Banks | 115200 | 776178 |
| Mitsui & Co. Ltd. | Trading Companies & Distributors | 2900 | 84685 |
| Mitsui OSK Lines Ltd. | Marine | 8700 | 216931 |
| Mizuho Financial Group Inc. | Banks | 28200 | 396674 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MonotaRO Co. Ltd. | Trading Companies & Distributors | 3140 | 44192 |
| &nbsp;&nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings Inc. | Insurance | 8420 | 269552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Murata Manufacturing Co. Ltd. | Electronic Equipment, Instruments & Components | 6190 | 309066 |
| &nbsp;&nbsp;&nbsp;&nbsp; NEC Corp. | IT Services | 1976 | 69413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexon Co. Ltd. | Entertainment | 980 | 22000 |
| &nbsp;&nbsp;&nbsp;&nbsp; NGK Spark Plug Co. Ltd. | Auto Components | 4200 | 77637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nidec Corp. | Electrical Equipment | 4200 | 217695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nihon M&A Center Holdings Inc. | Professional Services | 6090 | 75187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nintendo Co. Ltd. | Entertainment | 22191 | 930392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Building Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 9 | 40108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co. Ltd. | Chemicals | 8400 | 66146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Prologis REIT Inc. | Equity Real Estate Investment Trusts (REITs) | 20 | 46762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. | Metals & Mining | 17100 | 297042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Telegraph & Telephone Corp. | Diversified Telecommunication Services | 4790 | 136572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nippon Yusen KK | Marine | 11600 | 273417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nitto Denko Corp. | Chemicals | 3241 | 187909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomura Holdings Inc. | Capital Markets | 33600 | 124423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomura Real Estate Master Fund Inc. | Equity Real Estate Investment Trusts (REITs) | 48 | 59297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomura Research Institute Ltd. | IT Services | 3890 | 91836 |
| &nbsp;&nbsp;&nbsp;&nbsp; NSK Ltd. | Machinery | 4200 | 22314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Obayashi Corp. | Construction & Engineering | 4200 | 31768 |
| &nbsp;&nbsp;&nbsp;&nbsp; OBIC Co. Ltd. | IT Services | 180 | 26479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Olympus Corp. | Health Care Equipment & Supplies | 7400 | 131909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omron Corp. | Electronic Equipment, Instruments & Components | 992 | 48155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co. Ltd. | Pharmaceuticals | 5040 | 117764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Open House Group Co. Ltd. | Household Durables | 100 | 3653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. Japan | Software | 185 | 11946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oriental Land Co. Ltd. | Hotels, Restaurants & Leisure | 104 | 15102 |
| &nbsp;&nbsp;&nbsp;&nbsp; ORIX Corp. | Diversified Financial Services | 12600 | 202305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orix JREIT Inc. | Equity Real Estate Investment Trusts (REITs) | 42 | 59366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otsuka Corp. | IT Services | 2020 | 63611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | Household Durables | 8400 | 70698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Recruit Holdings Co. Ltd. | Professional Services | 12600 | 398880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rohm Co. Ltd. | Semiconductors & Semiconductor Equipment | 2050 | 148065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Santen Pharmaceutical Co. Ltd. | Pharmaceuticals | 8800 | 71630 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBI Holdings Inc. | Capital Markets | 6200 | 118272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sega Sammy Holdings Inc. | Leisure Products | 900 | 13622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sekisui House Ltd. | Household Durables | 7250 | 128219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seven & i Holdings Co. Ltd. | Food & Staples Retailing | 5576 | 239192 |
| &nbsp;&nbsp;&nbsp;&nbsp; SG Holdings Co. Ltd. | Air Freight & Logistics | 2370 | 32871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sharp Corp. | Household Durables | 4200 | 30081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shimadzu Corp. | Electronic Equipment, Instruments & Components | 300 | 8515 |
| &nbsp;&nbsp;&nbsp;&nbsp; SHIMANO Inc. | Leisure Products | 547 | 86727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co. Ltd. | Chemicals | 2550 | 313568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shionogi & Co. Ltd. | Pharmaceuticals | 1097 | 54756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shiseido Co. Ltd. | Personal Products | 3100 | 152034 |
| &nbsp;&nbsp;&nbsp;&nbsp; SoftBank Corp. | Wireless Telecommunication Services | 63000 | 710478 |
| &nbsp;&nbsp;&nbsp;&nbsp; SoftBank Group Corp. | Wireless Telecommunication Services | 5400 | 230987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sojitz Corp. | Trading Companies & Distributors | 4200 | 79992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sompo Holdings Inc. | Insurance | 190 | 8438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sony Corp. | Household Durables | 8100 | 616041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Square Enix Holdings Co. Ltd. | Entertainment | 1200 | 55750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Subaru Corp. | Automobiles | 8400 | 129077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumco Corp. | Semiconductors & Semiconductor Equipment | 7600 | 101203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Chemical Co. Ltd. | Chemicals | 33600 | 120705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Corp. | Trading Companies & Distributors | 26300 | 437719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | Auto Components | 4200 | 47890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Metal Mining Co. Ltd. | Metals & Mining | 4800 | 169925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group Inc. | Banks | 24384 | 978723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | Automobiles | 500 | 16185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysmex Corp. | Health Care Equipment & Supplies | 1126 | 68254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | Pharmaceuticals | 30600 | 953402 |
| &nbsp;&nbsp;&nbsp;&nbsp; TDK Corp. | Electronic Equipment, Instruments & Components | 5160 | 169530 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Kansai Electric Power Co. Inc. | Electric Utilities | 6700 | 64946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokio Marine Holdings Inc. | Insurance | 10611 | 227387 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp;Tokyo Century Corp. | Diversified Financial Services | 1040 | 35312 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron Ltd. | Semiconductors & Semiconductor Equipment | 2268 | 668308 |
| &nbsp;&nbsp;&nbsp;Toray Industries Inc. | Chemicals | 8400 | 46894 |
| &nbsp;&nbsp;&nbsp;Toshiba Corp. | Industrial Conglomerates | 2000 | 69771 |
| &nbsp;&nbsp;&nbsp;Tosoh Corp. | Chemicals | 7174 | 85363 |
| &nbsp;&nbsp;&nbsp;Toyota Industries Corp. | Auto Components | 2300 | 126204 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | Automobiles | 89640 | 1231365 |
| &nbsp;&nbsp;<sup>b</sup> Trend Micro Inc. | Software | 1490 | 69336 |
| &nbsp;&nbsp;&nbsp;United Urban Investment Corp. | Equity Real Estate Investment Trusts (REITs) | 61 | 69624 |
| &nbsp;&nbsp;&nbsp;USS Co. Ltd. | Specialty Retail | 4500 | 71450 |
| &nbsp;&nbsp;&nbsp;Yamaha Motor Co. Ltd. | Automobiles | 1700 | 38781 |
| &nbsp;&nbsp;&nbsp;YASKAWA Electric Corp. | Machinery | 4304 | 137818 |
| &nbsp;&nbsp;&nbsp;Z Holdings Corp. | Interactive Media & Services | 33600 | 84544 |
| &nbsp;&nbsp;&nbsp;Zozo Inc. | Internet & Direct Marketing Retail | 2370 | 58556 |
|  |  |  | 25473663 |
| &nbsp;&nbsp;&nbsp;**Luxembourg 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;Eurofins Scientific SE | Life Sciences Tools & Services | 672 | 48095 |
| &nbsp;&nbsp;&nbsp;**Netherlands 4.6%** |  |  |  |
| <sup>a,b</sup> Adyen NV, 144A | IT Services | 340 | 467515 |
| &nbsp;&nbsp;<sup>b</sup> Argenx SE | Biotechnology | 111 | 41261 |
| &nbsp;&nbsp;<sup>b</sup> Argenx SE | Biotechnology | 182 | 67654 |
| &nbsp;&nbsp;<sup>b</sup> Argenx SE | Biotechnology | 22 | 8178 |
| &nbsp;&nbsp;&nbsp;ASM International NV | Semiconductors & Semiconductor Equipment | 714 | 179569 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | Semiconductors & Semiconductor Equipment | 3192 | 1716275 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | Banks | 29610 | 359875 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | Food & Staples Retailing | 2184 | 62561 |
| &nbsp;&nbsp;&nbsp;Koninklijke DSM NV | Chemicals | 210 | 25617 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | Diversified Telecommunication Services | 71652 | 221000 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | Health Care Equipment & Supplies | 15456 | 231002 |
| &nbsp;&nbsp;&nbsp;NN Group NV | Insurance | 5082 | 206971 |
| &nbsp;&nbsp;&nbsp;Prosus NV | Internet & Direct Marketing Retail | 6510 | 447785 |
| &nbsp;&nbsp;&nbsp;Shell PLC | Oil, Gas & Consumable Fuels | 38010 | 1063499 |
| &nbsp;&nbsp;&nbsp;Universal Music Group NV | Entertainment | 3528 | 84756 |
|  |  |  | 5183518 |
| &nbsp;&nbsp;&nbsp;**New Zealand 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Contact Energy Ltd. | Electric Utilities | 16548 | 80691 |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare Corp. Ltd. | Health Care Equipment & Supplies | 5670 | 81043 |
| &nbsp;&nbsp;&nbsp;Mercury NZ Ltd. | Electric Utilities | 13482 | 47408 |
| &nbsp;&nbsp;&nbsp;Meridian Energy Ltd. | Independent Power Producers & Energy Traders | 24066 | 79756 |
| &nbsp;&nbsp;&nbsp;Spark New Zealand Ltd. | Diversified Telecommunication Services | 41160 | 140571 |
|  |  |  | 429469 |
| &nbsp;&nbsp;&nbsp;**Norway 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Aker ASA | Diversified Financial Services | 504 | 36811 |
| &nbsp;&nbsp;&nbsp;Aker BP ASA | Oil, Gas & Consumable Fuels | 3990 | 123171 |
| <sup>a,b</sup> AutoStore Holdings Ltd., 144A | Machinery | 18564 | 33779 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | Banks | 21630 | 426957 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | Oil, Gas & Consumable Fuels | 588 | 20999 |
| &nbsp;&nbsp;&nbsp;Gjensidige Forsikring ASA | Insurance | 3822 | 74570 |
| &nbsp;&nbsp;&nbsp;Mowi ASA | Food Products | 840 | 14257 |
| &nbsp;&nbsp;&nbsp;Norsk Hydro ASA | Metals & Mining | 11172 | 83152 |
| &nbsp;&nbsp;&nbsp;Orkla ASA | Food Products | 13398 | 96483 |
| &nbsp;&nbsp;&nbsp;Salmar ASA | Food Products | 1428 | 55781 |
| &nbsp;&nbsp;&nbsp;Storebrand ASA | Insurance | 10080 | 87385 |
| &nbsp;&nbsp;&nbsp;Telenor ASA | Diversified Telecommunication Services | 14784 | 137470 |
| &nbsp;&nbsp;&nbsp;TOMRA Systems ASA | Commercial Services & Supplies | 3066 | 51541 |
| &nbsp;&nbsp;&nbsp;Yara International ASA | Chemicals | 3906 | 170736 |
|  |  |  | 1413092 |
| &nbsp;&nbsp;&nbsp;**Poland 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank Pekao SA | Banks | 3402 | 67090 |
| &nbsp;&nbsp;&nbsp;LPP SA | Textiles, Apparel & Luxury Goods | 23 | 55845 |
| &nbsp;&nbsp;&nbsp;Polski Koncern Naftowy ORLEN SA | Oil, Gas & Consumable Fuels | 7434 | 108876 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Powszechna Kasa Oszczednosci Bank Polski |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SA | Banks | 19446 | 134288 |
| &nbsp;&nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen SA | Insurance | 12180 | 98356 |
|  |  |  | 464455 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portugal 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;EDP - Energias de Portugal SA | Electric Utilities | 42420 | 210790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Galp Energia SGPS SA, B | Oil, Gas & Consumable Fuels | 10206 | 137352 |
|  |  |  | 348142 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Singapore 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CapitaLand Ascendas REIT, A | Equity Real Estate Investment Trusts (REITs) | 75600 | 154447 |
| &nbsp;&nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd., A | Banks | 8400 | 212443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Olam Group Ltd. | Food & Staples Retailing | 25200 | 27432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oversea-Chinese Banking Corp. Ltd. | Banks | 22500 | 204332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore Exchange Ltd. | Capital Markets | 13400 | 89420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore Technologies Engineering Ltd. | Aerospace & Defense | 37800 | 94415 |
| &nbsp;&nbsp;&nbsp;&nbsp;United Overseas Bank Ltd. | Banks | 6400 | 146496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Venture Corp. Ltd. | Electronic Equipment, Instruments & Components | 5802 | 73801 |
|  |  |  | 1002786 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Spain 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SA | Construction & Engineering | 5124 | 146394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | Banks | 32928 | 197992 |
| &nbsp;&nbsp;&nbsp;&nbsp;CaixaBank SA | Banks | 6174 | 24196 |
| <sup>a</sup> Cellnex Telecom SA, 144A | Diversified Telecommunication Services | 1092 | 36035 |
| &nbsp;&nbsp;&nbsp;&nbsp;Endesa SA | Electric Utilities | 7056 | 132801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Iberdrola SA | Electric Utilities | 49980 | 583019 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industria de Diseno Textil SA | Specialty Retail | 6762 | 179336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mapfre SA | Insurance | 22134 | 42757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Naturgy Energy Group SA | Gas Utilities | 4158 | 107879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Red Electrica Corp. SA | Electric Utilities | 9408 | 163261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repsol SA | Oil, Gas & Consumable Fuels | 8778 | 139119 |
| &nbsp;&nbsp;&nbsp;&nbsp;Telefonica SA | Diversified Telecommunication Services | 129360 | 467331 |
|  |  |  | 2220120 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sweden 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assa Abloy AB, B | Building Products | 2226 | 47791 |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlas Copco AB, A | Machinery | 13734 | 162259 |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlas Copco AB, B | Machinery | 8442 | 90015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Axfood AB | Food & Staples Retailing | 2058 | 56469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Castellum AB | Real Estate Management & Development | 1218 | 14758 |
| &nbsp;&nbsp;&nbsp;&nbsp;Electrolux AB, B | Household Durables | 4998 | 67529 |
| <sup>b</sup> Embracer Group AB | Entertainment | 10626 | 48227 |
| &nbsp;&nbsp;&nbsp;&nbsp;EQT AB | Capital Markets | 5460 | 115598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Essity AB, B | Household Products | 1806 | 47371 |
| <sup>a,c</sup> Evolution Gaming Group AB, 144A, Reg S | Hotels, Restaurants & Leisure | 2394 | 233300 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hennes & Mauritz AB, B | Specialty Retail | 15792 | 170113 |
| &nbsp;&nbsp;&nbsp;&nbsp;Husqvarna AB, B | Household Durables | 9282 | 65137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor AB, A | Diversified Financial Services | 504 | 9377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor AB, B | Diversified Financial Services | 1050 | 19002 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lifco AB, B | Industrial Conglomerates | 4536 | 75814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nibe Industrier AB, B | Building Products | 6426 | 59884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nordnet AB publ | Capital Markets | 3612 | 52328 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securitas AB, B | Commercial Services & Supplies | 8862 | 73961 |
| &nbsp;&nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, A | Banks | 6636 | 76394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Skanska AB, B | Construction & Engineering | 6846 | 108411 |
| &nbsp;&nbsp;&nbsp;&nbsp;SKF AB, B | Machinery | 1386 | 21170 |
| &nbsp;&nbsp;&nbsp;&nbsp;SSAB AB, A | Metals & Mining | 4872 | 26624 |
| &nbsp;&nbsp;&nbsp;&nbsp;SSAB AB, B | Metals & Mining | 13356 | 69475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, A | Banks | 17892 | 180474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Swedbank AB, A | Banks | 13146 | 223695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tele2 AB, B | Wireless Telecommunication Services | 12054 | 98450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, B | Communications Equipment | 13986 | 81746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Telia Co. AB | Diversified Telecommunication Services | 54852 | 140348 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Volvo AB, A | Machinery | 672 | 12776 |
| Volvo AB, B | Machinery | 4284 | 77494 |
|  |  |  | 2525990 |
| **Switzerland 9.6%** |  |  |  |
| ABB Ltd. | Electrical Equipment | 7938 | 240748 |
| Alcon Inc. | Health Care Equipment & Supplies | 252 | 17209 |
| Baloise Holding AG | Insurance | 504 | 77735 |
| Cie Financiere Richemont SA | Textiles, Apparel & Luxury Goods | 4746 | 615051 |
| Credit Suisse Group AG | Capital Markets | 4452 | 13300 |
| Geberit AG | Building Products | 210 | 98849 |
| Givaudan SA | Chemicals | 56 | 171474 |
| Julius Baer Group Ltd. | Capital Markets | 3276 | 190711 |
| Kuehne + Nagel International AG | Marine | 1050 | 244228 |
| Lonza Group AG | Life Sciences Tools & Services | 672 | 329100 |
| Nestle SA | Food Products | 21168 | 2451297 |
| Novartis AG | Pharmaceuticals | 23310 | 2106013 |
| Partners Group Holding AG | Capital Markets | 327 | 288688 |
| Roche Holding AG, Bearer | Pharmaceuticals | 168 | 65079 |
| Roche Holding AG, Non-Voting | Pharmaceuticals | 4536 | 1424241 |
| Schindler Holding AG, PC | Machinery | 42 | 7894 |
| SGS SA | Professional Services | 106 | 246325 |
| Sika AG | Chemicals | 546 | 130835 |
| STMicroelectronics NV | Semiconductors & Semiconductor Equipment | 4494 | 158251 |
| Straumann Holding AG | Health Care Equipment & Supplies | 126 | 14381 |
| Swiss Life Holding AG | Insurance | 294 | 151512 |
| Swiss Re AG | Insurance | 5754 | 537836 |
| Swisscom AG | Diversified Telecommunication Services | 588 | 321964 |
| The Swatch Group AG | Textiles, Apparel & Luxury Goods | 84 | 23878 |
| Zurich Insurance Group AG | Insurance | 1680 | 803139 |
|  |  |  | 10729738 |
| **United Kingdom 12.6%** |  |  |  |
| 3i Group PLC | Capital Markets | 8652 | 139617 |
| abrdn PLC | Capital Markets | 49644 | 113014 |
| Admiral Group PLC | Insurance | 5922 | 152231 |
| Anglo American PLC | Metals & Mining | 10248 | 398974 |
| Ashtead Group PLC | Trading Companies & Distributors | 1092 | 62000 |
| AstraZeneca PLC | Pharmaceuticals | 11676 | 1575575 |
| AVEVA Group PLC | Software | 1942 | 75057 |
| Aviva PLC | Insurance | 60732 | 323486 |
| B&M European Value Retail SA | Multiline Retail | 18942 | 93716 |
| BAE Systems PLC | Aerospace & Defense | 23562 | 242614 |
| Barratt Developments PLC | Household Durables | 22176 | 105848 |
| BP PLC | Oil, Gas & Consumable Fuels | 82446 | 470979 |
| British American Tobacco PLC | Tobacco | 29484 | 1163827 |
| BT Group PLC | Diversified Telecommunication Services | 52038 | 70139 |
| Burberry Group PLC | Textiles, Apparel & Luxury Goods | 2688 | 65638 |
| CK Hutchison Holdings Ltd., A | Real Estate Management & Development | 23000 | 138060 |
| Coca-Cola Europacific Partners PLC | Beverages | 294 | 16264 |
| <sup>a</sup> ConvaTec Group PLC, 144A | Health Care Equipment & Supplies | 9744 | 27263 |
| Diageo PLC | Beverages | 11634 | 510801 |
| Direct Line Insurance Group PLC | Insurance | 29736 | 79158 |
| DS Smith PLC | Containers & Packaging | 5712 | 22090 |
| Ferguson PLC | Trading Companies & Distributors | 1218 | 152960 |
| GSK PLC | Pharmaceuticals | 52122 | 901340 |
| Hargreaves Lansdown PLC | Capital Markets | 7686 | 79160 |
| HSBC Holdings PLC | Banks | 127302 | 789700 |
| Imperial Brands PLC | Tobacco | 21084 | 525246 |
| InterContinental Hotels Group PLC | Hotels, Restaurants & Leisure | 504 | 28761 |
| Intermediate Capital Group PLC | Capital Markets | 6720 | 92798 |
| ITV PLC | Media | 80304 | 72603 |
| J Sainsbury PLC | Food & Staples Retailing | 37674 | 98657 |
| Kingfisher PLC | Specialty Retail | 17724 | 50337 |
| Land Securities Group PLC | Equity Real Estate Investment Trusts (REITs) | 16842 | 125891 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Legal & General Group PLC | Insurance | 132174 | 396685 |
| &nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | Capital Markets | 2016 | 173051 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&G PLC | Diversified Financial Services | 60900 | 137613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondi PLC | Paper & Forest Products | 9660 | 163784 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC | Multi-Utilities | 48594 | 583018 |
| &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC | Banks | 8316 | 26529 |
| &nbsp;&nbsp; <sup>b</sup> Ocado Group PLC | Food & Staples Retailing | 3402 | 25241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Persimmon PLC | Household Durables | 7098 | 103910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phoenix Group Holdings PLC | Insurance | 18228 | 133445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | Household Products | 5040 | 348843 |
| &nbsp;&nbsp;&nbsp;&nbsp; RELX PLC | Professional Services | 10164 | 279737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rentokil Initial PLC | Commercial Services & Supplies | 4578 | 27975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schroders PLC | Capital Markets | 3990 | 20926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Severn Trent PLC | Water Utilities | 5334 | 170095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smith & Nephew PLC | Health Care Equipment & Supplies | 1470 | 19619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spirax-Sarco Engineering PLC | Machinery | 378 | 48266 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSE PLC | Electric Utilities | 17388 | 358083 |
| &nbsp;&nbsp;&nbsp;&nbsp; St. James's Place Capital PLC | Capital Markets | 12264 | 161538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taylor Wimpey PLC | Household Durables | 83034 | 101530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesco PLC | Food & Staples Retailing | 30912 | 83367 |
| &nbsp;&nbsp;&nbsp;&nbsp; The British Land Co. PLC | Equity Real Estate Investment Trusts (REITs) | 11298 | 53696 |
| &nbsp;&nbsp;&nbsp;&nbsp; The Sage Group PLC | Software | 4116 | 36916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC | Personal Products | 21252 | 1069088 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Utilities Group PLC | Water Utilities | 14280 | 170297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC | Wireless Telecommunication Services | 634704 | 643160 |
| &nbsp;&nbsp; <sup>b</sup> Wise PLC, A | IT Services | 3864 | 26159 |
|  |  |  | 14126375 |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Holcim AG, B | Construction Materials | 10290 | 532518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellantis NV | Automobiles | 50778 | 718813 |
|  |  |  | 1251331 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $107,129,938)** |  |  | 110935141 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Preferred Stocks 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Germany 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>d</sup> Bayerische Motoren Werke AG, 7.316%, pfd. | Automobiles | 1008 | 85579 |
| &nbsp;&nbsp; <sup>d</sup> Porsche Automobil Holding SE, 4.996%, pfd. | Automobiles | 1428 | 78091 |
| &nbsp;&nbsp; <sup>d</sup> Sartorius AG, 0.341%, pfd. | Health Care Equipment & Supplies | 294 | 115907 |
| &nbsp;&nbsp; <sup>d</sup> Volkswagen AG, 22.86%, pfd. | Automobiles | 966 | 120025 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $408,139)** |  |  | 399602 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $107,538,077) 99.7%** |  |  | 111334743 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.3%** |  |  | 352931 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $111687674 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $1,680,951, representing 1.5% of net assets.<br> <sup>b</sup>Non-income producing.<br> <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States.<br> Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption<br> from registration. At December 31, 2022, the value of was $591,572, representing 0.5% of net assets.<br> <sup>d</sup>Variable rate security. The rate shown represents the yield at period end.

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| MSCI EAFE | Long | 3 | $292410 | 3/17/23 | $(1536) |
| \*As of period end. |  |  |  |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**ADR** – American Depositary Receipt<br> **REIT** – Real Estate Investment Trust<br> **SPA** – Standby Purchase Agreement

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp;**Franklin Investment Grade Corporate ETF** | **Country** | **Principal Amount\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;**Corporate Bonds & Notes 96.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Aerospace & Defense 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior note, 4.07%, 12/15/42 | United States | 3300000 | $2870256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 6/15/53 | United States | 3400000 | 2903026 |
| &nbsp;&nbsp;&nbsp;The Boeing Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 5/01/30 | United States | 2000000 | 1956183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior unsecured note, 3.65%, 3/01/47 | United States | 4500000 | 3039219 |
|  |  |  | 10768684 |
| &nbsp;&nbsp;&nbsp;**Agriculture 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cargill Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<sup>a</sup> 144A, 1.70%, 2/02/31 | United States | 5000000 | 3900960 |
| <sup>a</sup> Sr. Unsecured, 144A, 2.125%, 11/10/31 | United States | 3800000 | 3009608 |
| &nbsp;&nbsp;<sup>a</sup> JT International Financial Services BV, 144A, 6.875%, 10/24/32 | Japan | 6375000 | 6781075 |
|  |  |  | 13691643 |
| &nbsp;&nbsp;&nbsp;**Air Freight & Logistics 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;FedEx Corp., senior bond, 4.75%, 11/15/45 | United States | 5950000 | 5051141 |
| &nbsp;&nbsp;&nbsp;**Airlines 2.0%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Delta Air Lines Inc./SkyMiles IP Ltd., first lien, 144A, 4.50%, 10/20/25 | United States | 8300000 | 8101838 |
| &nbsp;&nbsp;&nbsp;United Airlines 2016-1 Class A Pass Through Trust, senior bond, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 1/07/30 | United States | 2618309 | 2209218 |
| &nbsp;&nbsp;&nbsp;United Airlines 2020-1 Class B Pass Through Trust, 2020-1 Class B, 4.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | United States | 2490034 | 2371793 |
|  |  |  | 12682849 |
| &nbsp;&nbsp;&nbsp;**Banks 22.8%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Banco de Chile, Sr. Unsecured , 144A, 2.99%, 12/09/31 | Chile | 1800000 | 1533638 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA, sub. note, 2.749%, 12/03/30 | Spain | 5700000 | 4378063 |
| &nbsp;&nbsp;&nbsp;Bancolombia SA, senior note, 3.00%, 1/29/25 | Colombia | 5000000 | 4744709 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsecured note, 2.592% to 4/29/30, FRN thereafter, 4/29/31 | United States | 3800000 | 3103203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sub. Bond, Series L, 4.183%, 11/25/27 | United States | 9100000 | 8647028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.571% to 4/27/32, FRN thereafter, 4/27/33 | United States | 5250000 | 4817029 |
| &nbsp;&nbsp;<sup>a</sup> BNP Paribas SA, senior note, 144A, 4.705% to 1/10/24, FRN thereafter, 1/10/25 | France | 6600000 | 6536696 |
| &nbsp;&nbsp;<sup>a</sup> BPCE SA, senior note, 144A, 5.70%, 10/22/23 | France | 7600000 | 7545151 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior bond, 3.668% to 7/24/27, FRN thereafter, 7/24/28 | United States | 5200000 | 4783813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.057% to 1/25/32, FRN thereafter, 1/25/33 | United States | 5200000 | 4209831 |
| &nbsp;&nbsp;<sup>a</sup> Credit Agricole SA, subordinated, 144A, 4.375%, 3/17/25 | France | 3800000 | 3673925 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior note, 2.129% to 11/24/25, FRN thereafter, 11/24/26 | Germany | 3300000 | 2914599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior unsecured, 0.898%, 5/28/24 | Germany | 3500000 | 3274503 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp, Sr. Unsecured, 4.772% to 7/28/29, FRN thereafter, 7/28/30 | United States | 4135000 | 3952782 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC, senior note, 1.645% to 4/18/25, FRN thereafter, 4/18/26 | United Kingdom | 4700000 | 4246153 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior bond, 2.522% to 4/22/30, FRN thereafter, 4/22/31 | United States | 5500000 | 4512726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sub. bond, 4.25%, 10/01/27 | United States | 5200000 | 5019079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.963% to 1/25/32, FRN thereafter, 1/25/33 | United States | 4550000 | 3715110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsecured, 4.851% to 7/25/27, FRN thereafter, 7/25/28 | United States | 4200000 | 4100986 |
| &nbsp;&nbsp;&nbsp;KeyBank NA, 4.15%, 8/08/25 | United States | 2000000 | 1955945 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.791% to 1/22/24, FRN thereafter, 1/22/25 | United States | 3300000 | 3123292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.731% to 4/05/23, FRN thereafter, 4/05/24 | United States | 4000000 | 3943044 |
| &nbsp;&nbsp;<sup>a</sup> National Australia Bank Ltd., sub. note, 144A, 2.332%, 8/21/30 | Australia | 9500000 | 7252455 |
| &nbsp;&nbsp;<sup>a</sup> Standard Chartered PLC, senior note, 144A, 1.456% to 1/14/26, FRN thereafter, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1/14/27 | United Kingdom | 4700000 | 4081010 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;senior note, 3.125%, 6/05/30 | United States | 5000000 | 4150022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series D, 4.25% to 11/15/26, FRN thereafter, 12/31/99 | United States | 1700000 | 1118470 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| The Goldman Sachs Group Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series V, 4.125% to 11/10/26, FRN thereafter, 12/31/99 | United States | 2100000 | 1750672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 2.64% to 2/24/27, FRN thereafter, 2/24/28 | United States | 9000000 | 8026291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 4.387% to 6/15/26, FRN thereafter, 6/15/27 | United States | 1400000 | 1350557 |
| Truist Bank, sub. note, 3.30%, 5/15/26 | United States | 3300000 | 3090789 |
| Truist Financial Corp., sub. bond, 3.875%, 3/19/29 | United States | 5400000 | 4991226 |
| <sup>a</sup> UniCredit SpA, 144A, 1.982% to 6/03/26, FRN thereafter, 6/03/27 | Italy | 4200000 | 3585364 |
| Wells Fargo & Co., 4.808% to 7/25/27, FRN thereafter, 7/25/28 | United States | 8300000 | 8120252 |
|  |  |  | 142248413 |
| **Beverages 2.1%** |  |  |  |
| Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc., 4.90%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2/01/46 | United States | 3500000 | 3199405 |
| Anheuser-Busch InBev Worldwide Inc., senior bond, 5.80%, 1/23/59 | Belgium | 3500000 | 3602847 |
| PepsiCo Inc., 1.625%, 5/01/30 | United States | 8000000 | 6525300 |
|  |  |  | 13327552 |
| **Biotechnology 2.9%** |  |  |  |
| AbbVie Inc., Senior unsecured, 4.25%, 11/21/49 | United States | 1500000 | 1252538 |
| Amgen Inc., 4.20%, 3/01/33 | United States | 1650000 | 1531623 |
| Bio-Rad Laboratories Inc., 3.30%, 3/15/27 | United States | 5250000 | 4859882 |
| <sup>a</sup> CSL Finance PLC, 144A, 4.25%, 4/27/32 | Australia | 5400000 | 5100798 |
| Illumina Inc., 5.80%, 12/12/25 | United States | 5300000 | 5341818 |
|  |  |  | 18086659 |
| **Capital Markets 1.4%** |  |  |  |
| Brixmor Operating Partnership LP, senior bond, 4.125%, 5/15/29 | United States | 2400000 | 2150632 |
| <sup>a</sup> Credit Suisse Group AG, senior bond, 144A, 3.869% to 1/12/28, FRN thereafter, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1/12/29 | Switzerland | 2600000 | 2087824 |
| Morgan Stanley, 1.794% to 2/13/31, FRN thereafter, 2/13/32 | United States | 5900000 | 4447693 |
|  |  |  | 8686149 |
| **Chemicals 1.6%** |  |  |  |
| Celanese US Holdings LLC, 5.90%, 7/05/24 | United States | 4700000 | 4701274 |
| DuPont de Nemours Inc., 5.419%, 11/15/48 | United States | 5400000 | 5168845 |
|  |  |  | 9870119 |
| **Diversified Financial Services 3.9%** |  |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.00%, 10/29/28 | Ireland | 5000000 | 4197927 |
| Air Lease Corp., 0.80%, 8/18/24 | United States | 4600000 | 4238542 |
| American Express Co., 2.25%, 3/04/25 | United States | 5700000 | 5384732 |
| Aon Global Ltd., 4.60%, 6/14/44 | Ireland | 8000000 | 6868296 |
| Capital One Financial Corp., Sr. Unsecured, 4.985% to 7/24/25, FRN thereafter, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7/24/26 | United States | 3800000 | 3725426 |
|  |  |  | 24414923 |
| **Diversified Telecommunication Services 1.7%** |  |  |  |
| Verizon Communications Inc., senior bond, 3.40%, 3/22/41 | United States | 14000000 | 10582014 |
| **Electric 4.0%** |  |  |  |
| Baltimore Gas and Electric Co., 4.55%, 6/01/52 | United States | 2400000 | 2133172 |
| Dominion Energy Inc., Series A, 4.35%, 8/15/32 | United States | 1900000 | 1771856 |
| DTE Electric Co., Series B, 3.65%, 3/01/52 | United States | 7500000 | 5838046 |
| PacifiCorp, 5.35%, 12/01/53 | United States | 6800000 | 6772179 |
| Public Service Enterprise Group Inc., Sr. Unsecured, 2.45%, 11/15/31 | United States | 7100000 | 5692368 |
| Virginia Electric and Power Co., Series D, 4.65%, 8/15/43 | United States | 3050000 | 2691847 |
|  |  |  | 24899468 |
| **Electric Utilities 7.0%** |  |  |  |
| <sup>a</sup> Comision Federal de Electricidad, 144A, 3.348%, 2/09/31 | Mexico | 1100000 | 863611 |
| Commonwealth Edison Co., first mortgage, Secured, 4.00%, 3/01/48 | United States | 2800000 | 2314690 |
| Duke Energy Progress LLC, senior bond, 2.50%, 8/15/50 | United States | 6200000 | 3747685 |
| <sup>a</sup> EDP Finance BV, senior note, 144A, 1.71%, 1/24/28 | Netherlands | 4200000 | 3473153 |
| <sup>a</sup> Enel Finance International NV, senior note, 144A, 3.625%, 5/25/27 | Italy | 5300000 | 4906157 |
| Exelon Corp., senior bond, 4.05%, 4/15/30 | United States | 6200000 | 5770934 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Georgia Power Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, Series 2010-C, 4.75%, 9/01/40 | United States | 6000000 | 5442535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.30%, 3/15/42 | United States | 2445000 | 2110252 |
| &nbsp;&nbsp;&nbsp; Public Service Electric and Gas Co., First Mortgage, 3.15%, 1/01/50 | United States | 3000000 | 2113623 |
| &nbsp;&nbsp;&nbsp; Virginia Electric and Power Co., senior bond, Series A, 3.50%, 3/15/27 | United States | 5200000 | 4922065 |
| &nbsp;&nbsp; <sup>a</sup> Vistra Operations Co. LLC, senior secured note, first lien, 144A, 3.55%, 7/15/24 | United States | 8100000 | 7773422 |
|  |  |  | 43438127 |
| &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments & Components 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Flex Ltd., senior note, 3.75%, 2/01/26 | Singapore | 3800000 | 3592656 |
| &nbsp;&nbsp;&nbsp; Teledyne FLIR LLC, Sr. Unsecured note, 2.50%, 8/01/30 | United States | 4000000 | 3237463 |
|  |  |  | 6830119 |
| &nbsp;&nbsp;&nbsp; **Energy Equipment & Services 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Baker Hughes Holdings LLC/Baker Hughes Co.-Obligor Inc., senior bond, 4.08%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/47 | United States | 1000000 | 784601 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc., 2.00%, 2/15/31 | United States | 4400000 | 3416428 |
| &nbsp;&nbsp; <sup>a</sup> Schlumberger Holdings Corp., senior bond, 144A, 4.30%, 5/01/29 | United States | 4700000 | 4423324 |
|  |  |  | 8624353 |
| &nbsp;&nbsp;&nbsp; **Entertainment 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Warnermedia Holdings Inc., 144A, 5.05%, 3/15/42 | United States | 1400000 | 1076075 |
| &nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Essex Portfolio LP, senior bond, 2.65%, 3/15/32 | United States | 9000000 | 7115731 |
| &nbsp;&nbsp; <sup>a</sup> Global Net Lease Inc./Global Net Lease Operating Partnership LP, senior note, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144A, 3.75%, 12/15/27 | United States | 2400000 | 1988200 |
| &nbsp;&nbsp;&nbsp; Simon Property Group LP, senior note, 3.375%, 12/01/27 | United States | 5000000 | 4632547 |
|  |  |  | 13736478 |
| &nbsp;&nbsp;&nbsp; **Food 3.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; General Mills Inc., 5.241%, 11/18/25 | United States | 3700000 | 3710521 |
| &nbsp;&nbsp;&nbsp; JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> 144A, 3.625%, 1/15/32 | United States | 1800000 | 1460601 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> 144A, 2.50%, 1/15/27 | United States | 3500000 | 3066385 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co., 5.00%, 6/04/42 | United States | 5200000 | 4727015 |
| &nbsp;&nbsp;&nbsp; Nestle Holdings Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> 144A, 4.70%, 1/15/53 | United States | 4000000 | 3786510 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> 144A, 4.30%, 10/01/32 | United States | 5500000 | 5404875 |
| &nbsp;&nbsp;&nbsp; Sysco Corp., 3.30%, 7/15/26 | United States | 2000000 | 1889140 |
|  |  |  | 24045047 |
| &nbsp;&nbsp;&nbsp; **Gas 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Piedmont Natural Gas Co. Inc., Sr. Unsecured, 5.05%, 5/15/52 | United States | 3000000 | 2723231 |
| &nbsp;&nbsp;&nbsp; **Health Care Providers & Services 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CVS Health Corp., senior bond, 5.30%, 12/05/43 | United States | 3000000 | 2816702 |
| &nbsp;&nbsp;&nbsp; Elevance Health Inc., 4.10%, 5/15/32 | United States | 8000000 | 7465028 |
| &nbsp;&nbsp;&nbsp; HCA Inc., senior secured bond, first lien, 4.50%, 2/15/27 | United States | 5400000 | 5212430 |
| &nbsp;&nbsp;&nbsp; STERIS Irish FinCo UnLtd Co., 3.75%, 3/15/51 | Ireland | 3300000 | 2360996 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., 3.05%, 5/15/41 | United States | 7600000 | 5742156 |
|  |  |  | 23597312 |
| &nbsp;&nbsp;&nbsp; **Healthcare-Products 0.8%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> GE HealthCare Technologies Inc., 5.55%, 11/15/24 | United States | 5000000 | 5021671 |
| &nbsp;&nbsp;&nbsp; **Home Builders 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; MDC Holdings Inc., 2.50%, 1/15/31 | United States | 2800000 | 2025149 |
| &nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior unsecured, 3.90%, 8/08/29 | United States | 2300000 | 1942206 |
| &nbsp;&nbsp;&nbsp; Marriott International Inc., senior bond, Series R, 3.125%, 6/15/26 | United States | 1000000 | 937388 |
|  |  |  | 2879594 |
| &nbsp;&nbsp;&nbsp; **Household Products 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; GSK Consumer Healthcare Capital US LLC, 3.375%, 3/24/27 | United States | 5800000 | 5408253 |
| &nbsp;&nbsp; <sup>a</sup> Kimberly-Clark de Mexico SAB de CV, senior bond, 144A, 2.431%, 7/01/31 | Mexico | 5900000 | 4726992 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Procter & Gamble Co., senior bond, 3.00%, 3/25/30 | United States | 8000000 | 7328450 |
|  |  |  | 17463695 |
| **Insurance 3.5%** |  |  |  |
| Aflac Inc., senior bond, 4.75%, 1/15/49 | United States | 5300000 | 4729072 |
| Berkshire Hathaway Finance Corp., 3.85%, 3/15/52 | United States | 1500000 | 1203551 |
| Brown & Brown Inc., 2.375%, 3/15/31 | United States | 4000000 | 3052432 |
| <sup>a</sup> MassMutual Global Funding II, 144A, 5.05%, 12/07/27 | United States | 6000000 | 6040008 |
| MetLife Inc., junior sub. bond, 6.40%, 12/15/66 | United States | 3000000 | 2905095 |
| The Allstate Corp., senior bond, 4.20%, 12/15/46 | United States | 4800000 | 3995787 |
|  |  |  | 21925945 |
| **Interactive Media & Services 0.3%** |  |  |  |
| <sup>a</sup> Tencent Holdings Ltd., senior note, 144A, 3.595%, 1/19/28 | China | 2000000 | 1836537 |
| **Internet 1.4%** |  |  |  |
| Amazon.com Inc., 3.95%, 4/13/52 | United States | 6000000 | 4999376 |
| Meta Platforms Inc., 4.45%, 8/15/52 | United States | 5000000 | 3999209 |
|  |  |  | 8998585 |
| **IT Services 0.8%** |  |  |  |
| Apple Inc., 2.80%, 2/08/61 | United States | 7500000 | 4783189 |
| **Lodging 0.7%** |  |  |  |
| Las Vegas Sands Corp., 3.20%, 8/08/24 | United States | 4700000 | 4445208 |
| **Media 2.3%** |  |  |  |
| Charter Communications Operating LLC/Charter Communications Operating |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;senior bond, 2.80%, 4/01/31 | United States | 5600000 | 4372510 |
| &nbsp;&nbsp;&nbsp;&nbsp;senior secured note, 3.50%, 3/01/42 | United States | 2600000 | 1674489 |
| Comcast Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;senior bond, 4.95%, 10/15/58 | United States | 5000000 | 4554841 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 11/07/25 | United States | 3000000 | 3042634 |
| Fox Corp., senior bond, 5.476%, 1/25/39 | United States | 900000 | 822457 |
|  |  |  | 14466931 |
| **Metals & Mining 0.2%** |  |  |  |
| <sup>a</sup> Antofagasta PLC, senior note, 144A, 2.375%, 10/14/30 | United Kingdom | 1900000 | 1527926 |
| **Miscellaneous Manufacturing 0.2%** |  |  |  |
| Parker-Hannifin Corp., 4.25%, 9/15/27 | United States | 1400000 | 1360656 |
| **Multi-Utilities 0.2%** |  |  |  |
| Berkshire Hathaway Energy Co., Sr. Unsecured, 5.15%, 11/15/43 | United States | 1000000 | 956468 |
| **Oil & Gas 1.4%** |  |  |  |
| Exxon Mobil Corp., 3.452%, 4/15/51 | United States | 5000000 | 3789717 |
| <sup>a</sup> Var Energi ASA, 7.50%, 1/15/28 | Norway | 5000000 | 5102821 |
|  |  |  | 8892538 |
| **Oil, Gas & Consumable Fuels 3.0%** |  |  |  |
| Aker BP ASA, |  |  |  |
| <sup>a</sup> senior note, 144A, 3.75%, 1/15/30 | Norway | 2300000 | 2028375 |
| <sup>a</sup> senior bond, 144A, 4.00%, 1/15/31 | Norway | 2200000 | 1933443 |
| Canadian Natural Resources Ltd., senior bond, 3.85%, 6/01/27 | Canada | 4000000 | 3773237 |
| Chevron Corp., senior bond, 3.078%, 5/11/50 | United States | 1000000 | 722625 |
| Exxon Mobil Corp., senior bond, 3.567%, 3/06/45 | United States | 4200000 | 3323407 |
| Sabine Pass Liquefaction LLC, first lien, senior secured bond, 4.20%, 3/15/28 | United States | 5700000 | 5368095 |
| TransCanada PipeLines Ltd., senior note, 6.10%, 6/01/40 | Canada | 1200000 | 1211903 |
|  |  |  | 18361085 |
| **Pharmaceuticals 1.6%** |  |  |  |
| Bristol-Myers Squibb Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;senior bond, 4.125%, 6/15/39 | United States | 3500000 | 3129184 |
| &nbsp;&nbsp;&nbsp;&nbsp;senior bond, 5.00%, 8/15/45 | United States | 2400000 | 2337849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsecured, 3.70%, 3/15/52 | United States | 2300000 | 1801133 |
| Takeda Pharmaceutical Co. Ltd., Senior unsecured, 3.175%, 7/09/50 | Japan | 4400000 | 2987335 |
|  |  |  | 10255501 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Pipelines 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc., 3.90%, 11/15/49 | United States | 2600000 | 1848401 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 3/15/45 | United States | 1700000 | 1414230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 3/15/35 | United States | 1200000 | 1072899 |
|  |  |  | 4335530 |
| &nbsp;&nbsp;&nbsp;**Real Estate Management & Development 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc., 2.95%, 3/15/34 | United States | 4000000 | 3254454 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP, senior bond, 4.50%, 7/01/44 | United States | 2500000 | 2122713 |
|  |  |  | 5377167 |
| &nbsp;&nbsp;&nbsp;**Retail 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Nordstrom Inc., 4.375%, 4/01/30 | United States | 2500000 | 1883950 |
| &nbsp;&nbsp;&nbsp;Target Corp., 2.95%, 1/15/52 | United States | 5000000 | 3453608 |
| &nbsp;&nbsp;&nbsp;The Home Depot Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 4/15/52 | United States | 4100000 | 3186407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsecured, 4.95%, 9/15/52 | United States | 625000 | 603720 |
|  |  |  | 9127685 |
| &nbsp;&nbsp;&nbsp;**Road & Rail 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC, Sr. Unsecured, 5.75%, 5/01/40 | United States | 5800000 | 6096041 |
| &nbsp;&nbsp;&nbsp;**Shipbuilding 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc., 0.67%, 8/16/23 | United States | 4300000 | 4176216 |
| &nbsp;&nbsp;&nbsp;**Software 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Microsoft Corp., senior bond, 2.675%, 6/01/60 | United States | 7600000 | 4861259 |
| &nbsp;&nbsp;&nbsp;Salesforce Inc., Sr. Unsecured, 1.95%, 7/15/31 | United States | 2300000 | 1839553 |
| &nbsp;&nbsp;&nbsp;ServiceNow Inc., senior bond, 1.40%, 9/01/30 | United States | 5200000 | 3989796 |
|  |  |  | 10690608 |
| &nbsp;&nbsp;&nbsp;**Telecommunications 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;AT&T Inc., 3.50%, 6/01/41 | United States | 1500000 | 1124453 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc., 2.875%, 2/15/31 | United States | 9600000 | 7945710 |
|  |  |  | 9070163 |
| &nbsp;&nbsp;&nbsp;**Trucking & Leasing 0.3%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> SMBC Aviation Capital Finance DAC, 144A, 1.90%, 10/15/26 | Ireland | 2000000 | 1704943 |
| &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services 0.6%** |  |  |  |
| &nbsp;&nbsp;<sup>a</sup> Sprint Spectrum Co. LLC, senior secured bond, first lien, 144A, 5.152%, 9/20/29 | United States | 3900000 | 3847673 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds & Notes (Cost $693,594,097)** |  |  | 598007060 |
| &nbsp;&nbsp;&nbsp;**Discount Note 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Note, 0.125%, 10/15/23 | United States | 2000000 | 1929527 |
| &nbsp;&nbsp;&nbsp;**Total Discount Note (Cost $1,993,555)** |  |  | 1929527 |
| &nbsp;&nbsp;&nbsp;**Total Investments before Short-Term Investments (Cost $695,587,652)** |  |  | 599936587 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 2.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**U.S. Government & Agency Securities 2.5%** |  |  |  |
| <sup>b</sup> Federal Home Loan Bank Discount Notes, 01/3/23 | United States | 15245000 | 15245000 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (Cost $15,241,697)** |  |  | 15245000 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $710,829,349) 98.8%** |  |  | 615181587 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 1.2%** |  |  | 7739379 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $622920966 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br><sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br>buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $135,183,041, representing 21.7% of net assets.<br><sup>b</sup>The security was issued on a discount basis with no stated coupon rate.

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury 10 Yr. Note (CBT) | Short | 79 | $8871453 | 3/22/23 | $87533 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Note 5 Yr. (CBT) | Short | 51 | 5504414 | 3/31/23 | 18078 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Ultra 10 Yr. | Short | 44 | 5204375 | 3/22/23 | 66627 |
| &nbsp;&nbsp;&nbsp; Total Futures Contracts |  |  |  |  | $172238 |
| \*As of period end. |  |  |  |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**FRN** – Floating Rate Note<br> **REIT** – Real Estate Investment Trust<br> **SPA** – Standby Purchase Agreement

------

---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)**<br> **Franklin Municipal Green Bond ETF** | <br>**Principal Amount\*** | <br>**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Municipal Bonds 99.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Alabama 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; County of Mobile, Gomesa Projects, 4.00%, 11/01/45 | 400000 | $296809 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Arizona 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arizona State University, Series B, 5.00%, 7/01/42 | 235000 | 243804 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Phoenix Civic Improvement Corp., 5.00%, 7/01/44 | 360000 | 390932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Glendale Industrial Development Authority, 4.00%, 5/15/31 | 400000 | 363442 |
|  |  | 998178 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Arkansas 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Arkansas Water, 4.00%, 10/01/33 | 375000 | 388593 |
| &nbsp;&nbsp;&nbsp;&nbsp; **California 27.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; California Community Choice Financing Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bond, Series 2021B-1, VRDN, 4.00%, 2/01/52 | 4000000 | 3938754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bond, VRDN, 4.00%, 10/01/52 | 3000000 | 3012632 |
| &nbsp;&nbsp;&nbsp;&nbsp; California Housing Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Air Resources Board, Series 2022D, 4.00%, 5/01/44 | 1000000 | 972521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakeside Drive Senior Housing LP, Series 2019, 2.35%, 12/01/35 | 95163 | 83467 |
| &nbsp;&nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 8/01/49 | 180000 | 191094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Science Center Foundation, 4.00%, 5/01/46 | 1790000 | 1667774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FRN thereafter, 4.01%, 8/01/47 | 3100000 | 3057449 |
| &nbsp;&nbsp;&nbsp;&nbsp; California Municipal Finance Authority, 4.00%, 5/15/39 | 3445000 | 3306273 |
| &nbsp;&nbsp;&nbsp;&nbsp; California State Public Works Board, 4.00%, 5/01/47 | 1500000 | 1436280 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Foster City, 4.00%, 8/01/32 | 115000 | 120728 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Los Angeles, Department of Airports Customer Facility Charge Revenue, 4.058%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/15/37 | 1000000 | 859346 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of San Francisco CA Public Utilities Commission Water Revenue, Series A, 4.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/01/50 | 100000 | 94486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clovis Unified School District, Refunding, zero cpn., 8/01/35 | 200000 | 122564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Konocti Unified School District, Series 2004C, zero cpn., 8/01/28 | 150000 | 122066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Los Angeles County Metropolitan Transportation Authority, 4.00%, 6/01/35 | 1800000 | 1902262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, 5.00%, 7/01/44 | 150000 | 160786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peninsula Corridor Joint Powers Board/CA, Series 2022A, 5.00%, 6/01/38 | 1000000 | 1128683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perris Joint Powers Authority, Refunding, Series 2017B, 5.00%, 9/01/37 | 100000 | 103427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Port of Los Angeles, 5.00%, 8/01/25 | 95000 | 99407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sacramento Municipal Utility District, Electric System Revenue, 5.00%, 8/15/30 | 115000 | 135102 |
| &nbsp;&nbsp;&nbsp;&nbsp; San Diego Association of Governments, Green Bond, 5.00%, 11/15/24 | 2000000 | 2040273 |
| &nbsp;&nbsp;&nbsp;&nbsp; San Diego County Regional Airport Authority, Subordinate Bond, AMT, Series 2021B, 4.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/01/46 | 2000000 | 1770943 |
| &nbsp;&nbsp;&nbsp;&nbsp; San Francisco Bay Area Rapid Transit District, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/01/36 | 170000 | 153519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 8/01/52 | 1000000 | 1007151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Santa Cruz County Capital Financing Authority, 4.00%, 6/01/42 | 1500000 | 1475364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern California Public Power Authority, 4.00%, 7/01/38 | 150000 | 151164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Three Rivers Levee Improvement Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/01/32 | 100000 | 98856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2006-1, Refunding, 4.00%, 9/01/27 | 250000 | 251783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 4.00%, 9/01/29 | 250000 | 251864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 4.00%, 9/01/31 | 200000 | 198608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transbay Joint Powers Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/34 | 150000 | 160817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redevelopment Project Green Bond Subordinate Tax, 2.40%, 10/01/49 | 95000 | 89722 |
|  |  | 30165165 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Colorado 1.6%** |  |  |
| Board of Water Commissioners City & County of Denver, Series A, 5.00%, 9/15/47 | 150000.0 | 158922 |
| University of Colorado, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 6/01/27 | 150000.0 | 164777 |
| &nbsp;&nbsp;&nbsp; Refunding, VRDN, 2.00%, 6/01/51 | 1500000.0 | 1456131 |
|  |  | 1779830 |
| **Connecticut 0.8%** |  |  |
| Connecticut State Health & Educational Facilities Authority, 4.00%, 7/01/31 | 145000.0 | 158121 |
| Hartford County Metropolitan District, Clean Water Project Revenue, Refunding, Series 2021A, |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 2/01/39 | 745000.0 | 738042 |
|  |  | 896163 |
| **District of Columbia 3.7%** |  |  |
| District of Columbia, |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 8/31/33 | 155000.0 | 170722 |
| &nbsp;&nbsp;&nbsp; 5.50%, 2/28/37 | 845000.0 | 890824 |
| District of Columbia Water & Sewer Authority, |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 10/01/44 | 340000.0 | 363266 |
| &nbsp;&nbsp;&nbsp; Sub Series 2019A, 4.00%, 10/01/49 | 760000.0 | 715098 |
| &nbsp;&nbsp;&nbsp; Sub Series 2022B, 5.00%, 10/01/34 | 715000.0 | 825361 |
| Washington Metropolitan Area Transit Authority Dedicated Revenue, Green Bond, Series |  |  |
| &nbsp;&nbsp;&nbsp; 2021A, 4.00%, 7/15/34 | 1000000.0 | 1027216 |
|  |  | 3992487 |
| **Florida 1.2%** |  |  |
| Babcock Ranch Community Independent Special District, 4.00%, 5/01/40 | 840000.0 | 709803 |
| City of Tampa, 5.00%, 5/01/36 | 135000.0 | 147129 |
| County of Palm Beach FL Water & Sewer Revenue, 4.00%, 10/01/31 | 100000.0 | 106569 |
| Somerset Community Development District, 4.00%, 5/01/32 | 415000.0 | 384801 |
|  |  | 1348302 |
| **Georgia 1.2%** |  |  |
| Cobb County Kennestone Hospital Authority, WellStar Health System Obligated Group, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp; 4/01/37 | 910000.0 | 777431 |
| Main Street Natural Gas, Inc., Series 2018B, Monthly, VRDN, 3.51%, 4/01/48 | 425000.0 | 423140 |
| Private Colleges & Universities Authority, 5.00%, 9/01/48 | 100000.0 | 106256 |
|  |  | 1306827 |
| **Illinois 4.2%** |  |  |
| Illinois Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 7/01/37 | 425000.0 | 432531 |
| &nbsp;&nbsp;&nbsp; State of Illinois Water Revolving Fund - Clean Water Program, 4.00%, 7/01/38 | 1435000.0 | 1456693 |
| Metropolitan Water Reclamation District of Greater Chicago, Green Bond, Series 2021B, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/01/33 | 1685000.0 | 1927410 |
| State of Illinois, |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 5/01/30 | 100000.0 | 106303 |
| &nbsp;&nbsp;&nbsp; 5.50%, 5/01/39 | 250000.0 | 258176 |
| &nbsp;&nbsp;&nbsp; Series 2019B, 4.00%, 11/01/38 | 200000.0 | 177392 |
| Upper Illinois River Valley Development Authority, Refunding, 3.50%, 12/01/32 | 150000.0 | 129541 |
|  |  | 4488046 |
| **Indiana 2.1%** |  |  |
| Indianapolis Local Public Improvement Bond Bank, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 1/15/27 | 610000.0 | 664056 |
| &nbsp;&nbsp;&nbsp; 5.00%, 7/15/27 | 450000.0 | 494266 |
| &nbsp;&nbsp;&nbsp; Refunding, 5.00%, 1/01/52 | 1000000.0 | 1070667 |
|  |  | 2228989 |
| **Kentucky 2.0%** |  |  |
| Louisville and Jefferson County Metropolitan Sewer District, Green Bond, Refunding , Series |  |  |
| &nbsp;&nbsp;&nbsp; 2022A, 4.00%, 5/15/34 | 2000000.0 | 2110208 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Louisiana 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental Facilities & Community Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/01/44 | 480000 | 359154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/01/47 | 1000000 | 779637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parish of St Bernard LA, 4.00%, 11/01/45 | 1000000 | 742022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terrebonne Levee & Conservation District, Series 2020B, 4.00%, 6/01/39 | 1000000 | 984569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terrebonne Levee & Conservation District Sales Tax Revenue, Series B, 4.00%, 6/01/40 | 100000 | 97659 |
|  |  | 2963041 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Maine 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Portland ME General Airport Revenue, 4.00%, 1/01/35 | 245000 | 241832 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Maryland 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Maryland Community Development Administration, Series 2021C, 0.375%, 7/01/23 | 500000 | 492893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maryland Economic Development Corp., 5.25%, 6/30/47 | 2000000 | 2003816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare Obligated |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group, Refunding, 4.00%, 1/01/30 | 365000 | 365134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington Suburban Sanitary Commission, 3.00%, 6/01/35 | 100000 | 93357 |
|  |  | 2955200 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 7/01/47 | 135000 | 112669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Springfield College, Green Bond, 5.00%, 6/01/26 | 420000 | 436465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Springfield College, Green Bond, 5.00%, 6/01/27 | 440000 | 461071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Massachusetts Housing Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C-1, 2.65%, 12/01/34 | 100000 | 87237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainability Bond, Series 2021B-1, 2.60%, 12/01/41 | 2000000 | 1483444 |
|  |  | 2580886 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Minnesota 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Minneapolis, 3.00%, 12/01/40 | 100000 | 87211 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Minneapolis/St. Paul Housing & Redevelopment Authority, 3.53%, 11/15/35 | 125000 | 125000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Minnesota Higher Education Facilities Authority, Series A, 5.00%, 10/01/52 | 1500000 | 1556987 |
|  |  | 1769198 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Mississippi 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mississippi Development Bank, County of Jackson Project, 3.625%, 11/01/36 | 500000 | 399579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mississippi Home Corp., Patriot Services Group Obligated Group, 5.20%, 6/01/36 | 280000 | 219148 |
|  |  | 618727 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Missouri 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Hill School District of Platte County, 3.00%, 3/01/33 | 100000 | 97628 |
| &nbsp;&nbsp;&nbsp;&nbsp; **New Jersey 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Newark Mass Transit Access Tax Revenue, 6.00%, 11/15/62 | 1000000 | 1110430 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Jersey Educational Facilities Authority, Series A, 5.00%, 7/01/32 | 645000 | 692095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newark Board of Education, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 7/15/30 | 620000 | 694291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 7/15/25 | 250000 | 262884 |
|  |  | 2759700 |
| &nbsp;&nbsp;&nbsp;&nbsp; **New Mexico 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Santa, Wastewater Utility System Revenue, 4.00%, 6/01/35 | 100000 | 103369 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Santa Fe NM Wastewater Utility System Revenue, 5.00%, 6/01/29 | 100000 | 111717 |
|  |  | 215086 |
| &nbsp;&nbsp;&nbsp;&nbsp; **New York 10.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Battery Park City Authority, 5.00%, 11/01/49 | 100000 | 107543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Climate Bond Certified, 5.00%, 11/15/32 | 605000 | 631050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bond, Series 2021A-1, 4.00%, 11/15/45 | 2000000 | 1693906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, Series 2017B, 5.00%, 11/15/28 | 430000 | 449352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-1-GROUP 1, 4.00%, 11/15/41 | 600000 | 562227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, 5.00%, 11/15/24 | 150000 | 153999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B-2, 4.00%, 11/15/32 | 215000 | 220235 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| New York Liberty Development Corp, 7 World Trade Center II LLC, Refunding , Sereis 2022A1, |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 9/15/43 | 1000000 | 783911 |
| New York Liberty Development Corp., Green Bonds- 4 World Trade, Refunding, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp; 11/15/36 | 2000000 | 1553477 |
| New York Power Authority, 5.00%, 11/15/29 | 1250000 | 1438891 |
| New York State Dormitory Authority, |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 7/01/35 | 100000 | 120441 |
| &nbsp;&nbsp;&nbsp; Refunding, 3.00%, 10/01/33 | 100000 | 95025 |
| New York State Housing Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp; Series N, 2.60%, 11/01/34 | 100000 | 85641 |
| &nbsp;&nbsp;&nbsp; Series P, 2.00%, 5/01/28 | 100000 | 92521 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, Series 2022A, VRDN, 2.50%, 11/01/60 | 1500000 | 1431625 |
| New York Transportation Development Corp., AMT, Refunding, 5.00%, 12/01/30 | 100000 | 106517 |
| Trust for Cultural Resources of The City of New York, 5.00%, 7/01/31 | 520000 | 612414 |
| Western Nassau County Water Authority, Green Bonds, Series 2021A, 4.00%, 4/01/40 | 900000 | 876571 |
|  |  | 11015346 |
| **Ohio 4.3%** |  |  |
| American Municipal Power, Inc., |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 2/15/41 | 1380000 | 1276621 |
| &nbsp;&nbsp;&nbsp; 5.00%, 2/15/29 | 100000 | 111348 |
| Ohio State University, 5.00%, 12/01/23 | 3000000 | 3055958 |
| State of Ohio, |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 3/01/30 | 100000 | 108308 |
| &nbsp;&nbsp;&nbsp; Series B, 4.00%, 3/01/24 | 50000 | 50711 |
|  |  | 4602946 |
| **Oregon 2.3%** |  |  |
| Hospital Facilities Authority of Multnomah County Oregon, Terwilliger Plaza Inc Obligated |  |  |
| &nbsp;&nbsp;&nbsp; Group, Refunding, 4.00%, 12/01/51 | 500000 | 373959 |
| Port of Portland OR Airport Revenue, |  |  |
| &nbsp;&nbsp;&nbsp; AMT, Series 2021-27A, 4.00%, 7/01/50 | 2225000 | 1927053 |
| &nbsp;&nbsp;&nbsp; Series 2020-27A, 5.00%, 7/01/36 | 150000 | 157985 |
|  |  | 2458997 |
| **Pennsylvania 1.7%** |  |  |
| School District of Philadelphia, |  |  |
| &nbsp;&nbsp;&nbsp; Green Bond, Series 2019B, 5.00%, 9/01/29 | 1600000 | 1769269 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 9/01/31 | 100000 | 113065 |
|  |  | 1882334 |
| **Puerto Rico 0.7%** |  |  |
| HTA HRRB Custodial Trust, 5.50%, 7/01/28 | 550000 | 564900 |
| HTA TRRB Custodial Trust, 5.25%, 7/01/36 | 200000 | 199310 |
|  |  | 764210 |
| **Rhode Island 0.2%** |  |  |
| Rhode Island Housing and Mortgage Finance Corp., 2.75%, 10/01/34 | 150000 | 131419 |
| Rhode Island Infrastructure Bank, Series A, 4.00%, 10/01/27 | 50000 | 52520 |
|  |  | 183939 |
| **South Dakota 0.7%** |  |  |
| County of Lincoln, Augustana College Association, 4.00%, 8/01/41 | 900000 | 764503 |
| **Tennessee 1.2%** |  |  |
| City of Kingsport, Series 2017B, 3.00%, 3/01/35 | 130000 | 118996 |
| Metropolitan Government Nashville & Davidson County Industrial Development Board, Waste |  |  |
| &nbsp;&nbsp;&nbsp; Management, Inc. of Tennessee Project, VRDN, 0.58%, 8/01/31 | 1200000 | 1125776 |
|  |  | 1244772 |
| **Texas 1.0%** |  |  |
| City of Round Rock, Utility System Revenue, Refunding, 2.75%, 8/01/29 | 100000 | 97100 |
| Harris County Flood Control District, Series 2022A, 4.25%, 10/01/47 | 1000000 | 1001992 |
|  |  | 1099092 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Utah 6.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Valley Water Reclamation Facility, Series C, 4.00%, 3/01/47 | 2500000 | 2399333 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Spanish Fork, 5.00%, 9/01/26 | 175000 | 188330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intermountain Power Agency, Series A, 5.00%, 7/01/43 | 3000000 | 3277861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Utah Infrastructure Agency, 4.00%, 10/15/30 | 500000 | 482180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Utah State Building Ownership Authority, Master Lease Program, 2.50%, 5/15/27 | 100000 | 99186 |
|  |  | 6446890 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Vermont 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Burlington, Electric System Revenue, Series 2022A, 5.00%, 7/01/31 | 500000 | 572493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vermont Educational & Health Buildings Financing Agency, 5.00%, 12/01/38 | 195000 | 201720 |
|  |  | 774213 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Virginia 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles City County Economic Development Authority, Waste Management, Inc., AMT, 1.45%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/01/27 | 1100000 | 958134 |
| &nbsp;&nbsp;&nbsp;&nbsp; City of Hampton, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 9/01/31 | 100000 | 108824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 9/01/27 | 50000 | 55323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fairfax County Economic Development Authority, County of Fairfax, 4.00%, 10/01/37 | 1630000 | 1679521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Virginia Transportation Commission, 5.00%, 6/01/28 | 190000 | 212824 |
|  |  | 3014626 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Washington 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Puget Sound Regional Transit Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/01/46 | 2000000 | 1899617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series S-1, 5.00%, 11/01/32 | 100000 | 106515 |
| &nbsp;&nbsp;&nbsp;&nbsp; FYI Properties, 5.00%, 6/01/24 | 135000 | 138768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington State Housing Finance Commission, Series 2021A-1, 3.50%, 12/20/35 | 977177 | 861568 |
|  |  | 3006468 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin 5.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Milwaukee Metropolitan Sewerage District, Series A, 3.00%, 10/01/35 | 150000 | 138608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RED River Valley Alliance LLC, AMT, 4.00%, 3/31/56 | 3000000 | 2266856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VRDN, 3.50%, 12/01/50 | 200000 | 160658 |
| &nbsp;&nbsp;&nbsp;&nbsp; University of Wisconsin Hospitals & Clinics, Obligated Group, Green Bond, 4.00%, 4/01/46 | 3000000 | 2860008 |
|  |  | 5426130 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (Cost $117,214,074) 99.0%** |  | 106885361 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 1.0%** |  | 1037053 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  | $107922414 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br>**Abbreviations**<br>**Selected Portfolio**<br>**FRN** – Floating Rate Note

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Franklin Senior Loan ETF** | **Country** | **Principal Amount\*** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Corporate Bonds & Notes 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Airlines 0.7%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Air Canada, 144A, 3.875%, 8/15/26 | Canada | 400000 | $354973 |
| &nbsp;&nbsp; <sup>a</sup> American Airlines Inc/AAdvantage Loyalty IP Ltd., senior secured note, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 4/20/26 | United States | 800000 | 770721 |
| &nbsp;&nbsp; <sup>a</sup> Delta Air Lines Inc./SkyMiles IP Ltd., first lien, 144A, 4.50%, 10/20/25 | United States | 250000 | 244031 |
| &nbsp;&nbsp; <sup>a</sup> United Airlines Inc., 144A, 4.375%, 4/15/26 | United States | 140000 | 130008 |
|  |  |  | 1499733 |
| &nbsp;&nbsp;&nbsp; **Chemicals 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> ASP Unifrax Holdings Inc., 144A, 5.25%, 9/30/28 | United States | 419400 | 338033 |
| &nbsp;&nbsp; <sup>a</sup> SCIH Salt Holdings Inc. senior secured note,, 144A, 4.875%, 5/01/28 | United States | 500000 | 429972 |
|  |  |  | 768005 |
| &nbsp;&nbsp;&nbsp; **Commercial Services & Supplies 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> MPH Acquisition Holdings LLC, senior secured, 144A, 5.50%, 9/01/28 | United States | 213000 | 166596 |
| &nbsp;&nbsp;&nbsp; **Communications Equipment 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> CommScope Inc., senior secured, 144A, 4.75%, 9/01/29 | United States | 288500 | 233130 |
| &nbsp;&nbsp;&nbsp; **Construction Materials 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Cemex SAB de CV, senior secured note, 144A, 5.20%, 9/17/30 | Mexico | 375000 | 350498 |
| &nbsp;&nbsp;&nbsp; **Containers & Packaging 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC, senior |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; secured note, 144A, 4.00%, 10/15/27 | United States | 400000 | 355460 |
| &nbsp;&nbsp;&nbsp; **Diversified Financial Services 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Altice France SA, senior secured, 144A, 5.125%, 7/15/29 | France | 500000 | 375764 |
| &nbsp;&nbsp; <sup>a</sup> Jane Street Group / JSG Finance Inc., 144A, 4.50%, 11/15/29 | United States | 300000 | 258433 |
| &nbsp;&nbsp; <sup>a</sup> Vmed O2 UK Financing I PLC, senior secured bond, 144A, 4.25%, 1/31/31 | United Kingdom | 210000 | 170472 |
|  |  |  | 804669 |
| &nbsp;&nbsp;&nbsp; **Electric 0.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Calpine Corp., first lien, 144A, 4.50%, 2/15/28 | United States | 800000 | 715347 |
| &nbsp;&nbsp;&nbsp; **Entertainment 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> International Game Technology PLC, senior secured note, first lien, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 1/15/29 | United Kingdom | 300000 | 280062 |
| &nbsp;&nbsp;&nbsp; **Environmental Control 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> GFL Environmental Inc., 144A, 3.50%, 9/01/28 | Canada | 200000 | 176091 |
| &nbsp;&nbsp;&nbsp; **Media 0.4%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Diamond Sports Group LLC / Diamond Sports Finance Co., first lien, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 8/15/26 | United States | 1210000 | 143688 |
| &nbsp;&nbsp; <sup>a</sup> Directv Financing LLC / Directv Financing Co-Obligor Inc., 144A, 5.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/27 | United States | 750000 | 672420 |
| &nbsp;&nbsp; <sup>a</sup> Univision Communications Inc., senior secured note, first lien, 144A, 5.125%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/25 | United States | 44444 | 42418 |
|  |  |  | 858526 |
| &nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Inc., senior secured, 4.625%, 10/15/28 | United States | 150000 | 135869 |
| &nbsp;&nbsp; <sup>a</sup> Weatherford International Ltd., 144A, 6.50%, 9/15/28 | United States | 44600 | 43785 |
|  |  |  | 179654 |
| &nbsp;&nbsp;&nbsp; **Packaging & Containers 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc., 144A, 4.125%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/26 | United States | 500000 | 434132 |
| &nbsp;&nbsp;&nbsp; **Pharmaceuticals 0.3%** |  |  |  |
| <sup>a,b</sup> Endo Luxembourg Finance Co. I Sarl / Endo US Inc., 144A, 6.125%, 4/01/29 | United States | 925000 | 703438 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Specialty Retail 0.1%** |  |  |  |
| <sup>a</sup> Staples Inc., 144A, 7.50%, 4/15/26 | United States | 161000 | 138901 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds & Notes (Cost $9,260,800)** |  |  | 7664242 |
| <sup>c</sup> **Senior Floating Rate Interests 89.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Aerospace & Defense 2.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Dynasty Acquisition Co. Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020 Term Loan B1, 7.923%, 4/06/26 | United States | 169041 | 161566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020 CAD Term Loan B2, 7.923%, 4/06/26 | United States | 90883 | 86864 |
| &nbsp;&nbsp;&nbsp;Madison IAQ LLC, Term Loan, 7.988%, 6/21/28 | United States | 2020318 | 1884714 |
| &nbsp;&nbsp;&nbsp;Peraton Corp., Term Loan B, 8.134%, 2/01/28 | United States | 2931641 | 2868127 |
|  |  |  | 5001271 |
| &nbsp;&nbsp;&nbsp;**Air Freight & Logistics 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;First Student Bidco Inc., |  |  |  |
| <sup>d</sup> Term Loan C, TBD, 7.726%, 7/21/28 | United States | 378538 | 343287 |
| <sup>d</sup> Term Loan B, TBD, 7.726%, 7/21/28 | United States | 1017802 | 923019 |
| &nbsp;&nbsp;&nbsp;Kenan Advantage Group Inc., 2021 Term Loan B1, 8.134%, 3/24/26 | United States | 1753891 | 1714113 |
|  |  |  | 2980419 |
| &nbsp;&nbsp;&nbsp;**Airlines 4.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Air Canada, 2021 Term Loan B, 8.13%, 8/11/28 | Canada | 1950382 | 1933619 |
| &nbsp;&nbsp;&nbsp;American Airlines Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 Term Loan B, 6.139%, 6/27/25 | United States | 2408046 | 2321139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 Term Loan, 8.993%, 4/20/28 | United States | 1024129 | 1021410 |
| &nbsp;&nbsp;&nbsp;Kestrel Bidco Inc., Term Loan B, 7.354%, 12/11/26 | Canada | 2047806 | 1878545 |
| &nbsp;&nbsp;&nbsp;United Airlines Inc., 2021 Term Loan B, 8.108%, 4/21/28 | United States | 2470529 | 2446343 |
|  |  |  | 9601056 |
| &nbsp;&nbsp;&nbsp;**Auto Components 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Clarios Global LP, 2021 USD Term Loan B, 7.634%, 4/30/26 | United States | 1755327 | 1726075 |
| &nbsp;&nbsp;&nbsp;**Auto Parts & Equipment 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;DexKo Global Inc., 2021 USD Term Loan B, 8.48%, 10/04/28 | United States | 992500 | 893111 |
| &nbsp;&nbsp;&nbsp;First Brands Group LLC, 2021 Term Loan, 8.369%, 3/30/27 | United States | 2317352 | 2204961 |
| &nbsp;&nbsp;&nbsp;Truck Hero Inc., 2021 Term Loan B, 8.134%, 1/31/28 | United States | 2071647 | 1785500 |
|  |  |  | 4883572 |
| &nbsp;&nbsp;&nbsp;**Automobile Manufacturers 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Trailer World Corp., Term Loan B, 8.173%, 3/03/28 | United States | 1295532 | 1126037 |
| &nbsp;&nbsp;&nbsp;**Building Products 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, 8.173%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/12/28 | United States | 1753696 | 1669527 |
| &nbsp;&nbsp;&nbsp;Solis IV BV, USD Term Loan B1, 7.859%, 2/26/29 | Netherlands | 796498 | 704830 |
| &nbsp;&nbsp;&nbsp;White Cap Buyer LLC, Term Loan B, 8.073%, 10/19/27 | United States | 974351 | 943902 |
|  |  |  | 3318259 |
| &nbsp;&nbsp;&nbsp;**Capital Markets 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LP, 2021 Term Loan B, 6.938%, 2/02/28 | United States | 1424625 | 1401119 |
| &nbsp;&nbsp;&nbsp;Edelman Financial Center LLC, 2021 Term Loan B, 7.884%, 4/07/28 | United States | 1278579 | 1196430 |
| &nbsp;&nbsp;&nbsp;Jane Street Group LLC, 2021 Term Loan, 7.134%, 1/26/28 | United States | 1416929 | 1377630 |
|  |  |  | 3975179 |
| &nbsp;&nbsp;&nbsp;**Casinos & Gaming 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bally's Corp., 2021 Term Loan B, 7.542%, 10/02/28 | United States | 1780015 | 1651854 |
| &nbsp;&nbsp;&nbsp;Scientific Games Holdings LP, 2022 USD Term Loan B, 7.097%, 4/04/29 | United States | 1479717 | 1414750 |
| &nbsp;&nbsp;&nbsp;Scientific Games International Inc., 2022 USD Term Loan, 7.417%, 4/14/29 | United States | 1309698 | 1295199 |
| &nbsp;&nbsp;&nbsp;Stars Group Holdings BV, 2022 USD Term Loan B, 8.092%, 7/22/28 | Ireland | 169068 | 168576 |
|  |  |  | 4530379 |
| &nbsp;&nbsp;&nbsp;**Chemicals 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Hexion Holdings Corporation, 2022 USD Term Loan, 8.935%, 3/15/29 | United States | 1592000 | 1374692 |
| &nbsp;&nbsp;&nbsp;INEOS Styrolution US Holding LLC, 2021 USD Term Loan B, 7.134%, 1/29/26 | United States | 1703289 | 1677740 |
| &nbsp;&nbsp;&nbsp;LSF11 A5 Holdco LLC, Term Loan, 8.052%, 10/15/28 | United States | 1557740 | 1508671 |
| &nbsp;&nbsp;&nbsp;PMHC II Inc., 2022 Term Loan B, 8.494%, 4/23/29 | United States | 1795500 | 1526642 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| SCIH Salt Holdings Inc., 2021 Incremental Term Loan B, 8.415%, 3/16/27 | United States | 1588211 | 1547934 |
|  |  |  | 7635679 |
| **Commercial Services & Supplies 4.0%** |  |  |  |
| Amentum Government Services Holdings LLC, 2022 Term Loan, 8.528%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2/15/29 | United States | 2622221 | 2561582 |
| APX Group Inc., 2021 Term Loan B, 6.73%, 7/10/28 | United States | 1283694 | 1272262 |
| KUEHG Corp., 2018 Incremental Term Loan, 8.48%, 2/21/25 | United States | 1075833 | 1035941 |
| MPH Acquisition Holdings LLC, 2021 Term Loan B, 8.985%, 9/01/28 | United States | 695726 | 597455 |
| <sup>d</sup> PECF USS Intermediate Holding III Corporation, Term Loan B, TBD, 8.634%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12/15/28 | United States | 1325777 | 1110431 |
| Spin Holdco Inc., 2021 Term Loan, 8.765%, 3/04/28 | United States | 2163962 | 1836122 |
|  |  |  | 8413793 |
| **Communications Equipment 0.4%** |  |  |  |
| CommScope Inc., 2019 Term Loan B, 7.634%, 4/06/26 | United States | 967496 | 914526 |
| **Computer & Electronics Retail 1.4%** |  |  |  |
| McAfee LLC, 2022 USD Term Loan B, 7.974%, 3/01/29 | United States | 1746065 | 1630074 |
| Vision Solutions Inc., 2021 Incremental Term Loan, 8.358%, 4/24/28 | United States | 1486145 | 1234615 |
|  |  |  | 2864689 |
| **Construction Materials 1.0%** |  |  |  |
| Cornerstone Building Brands Inc., 2021 Term Loan B, 7.568%, 4/12/28 | United States | 1374689 | 1239921 |
| Quikrete Holdings, Inc., 2021 Term Loan B1, 7.384%, 3/18/29 | United States | 794000 | 788851 |
|  |  |  | 2028772 |
| **Containers & Packaging 3.0%** |  |  |  |
| BWAY Holding Company, 2017 Term Loan B, 7.37%, 4/03/24 | United States | 1498332 | 1465870 |
| Charter NEX US Inc., 2021 Term Loan, 8.134%, 12/01/27 | United States | 1661104 | 1616595 |
| Klockner-Pentaplast of America Inc., 2021 Term Loan B, 8.259%, 2/12/26 | Luxembourg | 1976627 | 1764140 |
| Reynolds Group Holdings Inc., 2021 Term Loan B, 7.634%, 9/24/28 | United States | 1485709 | 1468482 |
|  |  |  | 6315087 |
| **Diversified Banks 0.6%** |  |  |  |
| AqGen Island Holdings, Inc, Term Loan, 8.25%, 8/02/28 | United States | 1291298 | 1236960 |
| **Diversified Financial Services 1.2%** |  |  |  |
| Asurion LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan B8, 7.634%, 12/23/26 | United States | 585077 | 523035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan B4, 9.634%, 1/20/29 | United States | 1997666 | 1564602 |
| Citadel Securities LP, 2022 Incremental Term Loan B, 7.438%, 2/02/28 | United States | 199500 | 197941 |
| Go Daddy Operating Co. LLC, 2022 Term Loan B5, 7.573%, 10/21/29 | United States | 174603 | 174542 |
|  |  |  | 2460120 |
| **Diversified Telecommunication Services 0.8%** |  |  |  |
| Altice France SA, 2018 Term Loan B13, 8.65%, 8/14/26 | France | 1173515 | 1094796 |
| Zayo Group Holdings Inc., USD Term Loan, 7.384%, 3/09/27 | United States | 708194 | 576838 |
|  |  |  | 1671634 |
| **Electronic Equipment & Instruments 0.6%** |  |  |  |
| Magenta Buyer LLC, 2021 USD 1st Lien Term Loan, 9.17%, 7/27/28 | United States | 1395128 | 1201121 |
| **Food Products 0.4%** |  |  |  |
| Triton Water Holdings Inc, Term Loan, 8.23%, 3/31/28 | United States | 814638 | 760362 |
| **Health Care Providers & Services 8.0%** |  |  |  |
| ADMI Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, 7.759%, 12/23/27 | United States | 1153688 | 1049568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Incremental Term Loan B3, 8.136%, 12/23/27 | United States | 657435 | 600528 |
| Charlotte Buyer Inc., 1st Lien Term Loan, 9.533%, 2/11/28 | United States | 376344 | 357685 |
| CHG Healthcare Services Inc., 2021 Term Loan, 7.634%, 9/29/28 | United States | 1399454 | 1372151 |
| Gainwell Acquisition Corp., Term Loan B, 8.73%, 10/01/27 | United States | 2885357 | 2715843 |
| ICON Luxembourg SARL, LUX Term Loan, 7.00%, 7/03/28 | Luxembourg | 1208674 | 1206565 |
| Medical Solutions Holdings Inc., 2021 1st Lien Term Loan, 7.884%, 11/01/28 | United States | 1874462 | 1761019 |
| Medline Borrower LP, USD Term Loan B, 7.634%, 10/23/28 | United States | 1643803 | 1565073 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; National Mentor Holdings Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.14%, 3/02/28 | United States | 798818 | 562723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, 8.48%, 3/02/28 | United States | 29688 | 20913 |
| &nbsp;&nbsp;&nbsp; Phoenix Guarantor Inc., 2021 Term Loan B3, 7.884%, 3/05/26 | United States | 1181860 | 1114972 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences Inc., US Term Loan, 7.00%, 7/03/28 | United States | 301142 | 300616 |
| &nbsp;&nbsp;&nbsp; Radiology Partners Inc., 2018 1st Lien Term Loan B, 8.639%, 7/09/25 | United States | 1124138 | 948845 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings Inc., 1st Lien Term Loan, 7.134%, 2/06/24 | United States | 506787 | 435837 |
| &nbsp;&nbsp;&nbsp; U.S. Anesthesia Partners Inc., 2021 Term Loan, 8.37%, 10/01/28 | United States | 1334335 | 1273837 |
| &nbsp;&nbsp;&nbsp; U.S. Radiology Specialists Inc., 2020 Term Loan, 9.634%, 12/15/27 | United States | 1278416 | 1158366 |
| &nbsp;&nbsp;&nbsp; U.S. Renal Care Inc., 2019 Term Loan B, 9.438%, 6/26/26 | United States | 651398 | 367633 |
|  |  |  | 16812174 |
| &nbsp;&nbsp;&nbsp; **Health Care Services 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; MedAssets Software Intermediate Holdings Inc., 2021 Term Loan, 8.384%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/28 | United States | 2301085 | 1957844 |
| &nbsp;&nbsp;&nbsp; **Home Furnishings 0.4%** |  |  |  |
| <sup>d</sup> AI Aqua Merger Sub Inc., 2021 1st Lien Term Loan B, TBD, 7.967%, 7/31/28 | United States | 920375 | 869179 |
| &nbsp;&nbsp;&nbsp; **Hotels Restaurants & Leisure 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Caesars Resort Collection LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017 1st Lien Term Loan B, 7.134%, 12/23/24 | United States | 696463 | 695794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan B1, 7.884%, 7/21/25 | United States | 633445 | 632687 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC, 2022 Term Loan B, 8.323%, 1/27/29 | United States | 1053641 | 1003862 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower LLC, 2021 Term Loan B, 7.384%, 8/02/28 | United States | 1357639 | 1350342 |
|  |  |  | 3682685 |
| &nbsp;&nbsp;&nbsp; **Household Products 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc., 6.625%, 12/22/27 | United States | 231419 | 227658 |
| &nbsp;&nbsp;&nbsp; **Insurance 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Acrisure LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan B, 7.884%, 2/15/27 | United States | 1117604 | 1051448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 First Lien Term Loan B, 8.634%, 2/15/27 | United States | 242308 | 235139 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, 2021 Term Loan B4, 7.854%, 11/06/27 | United States | 1049870 | 1027560 |
| &nbsp;&nbsp;&nbsp; AssuredPartners Inc., 2020 Term Loan B, 7.884%, 2/12/27 | United States | 1456031 | 1417512 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 2022 Term Loan B10, 8.68%, 8/19/28 | United States | 299250 | 267754 |
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2019 Term Loan B, 8.134%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/03/26 | United States | 396915 | 390324 |
|  |  |  | 4389737 |
| &nbsp;&nbsp;&nbsp; **Insurance Brokers 0.5%** |  |  |  |
| <sup>d</sup> AssuredPartners, Inc., 2022 Term Loan B4, TBD, 8.573%, 2/12/27 | United States | 420000 | 417902 |
| &nbsp;&nbsp;&nbsp; Hub International Ltd., 2022 Term Loan B, 8.22%, 11/10/29 | United States | 584483 | 579126 |
|  |  |  | 997028 |
| &nbsp;&nbsp;&nbsp; **Interactive Media & Services 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Arches Buyer Inc., 2021 Term Loan B, 7.634%, 12/06/27 | United States | 1582843 | 1469575 |
| &nbsp;&nbsp;&nbsp; Hunter Holdco 3 Limited, USD Term Loan B, 8.98%, 8/19/28 | United States | 1195153 | 1175732 |
|  |  |  | 2645307 |
| &nbsp;&nbsp;&nbsp; **Internet Services & Infrastructure 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017 1st Lien Term Loan, 8.134%, 9/13/24 | United States | 488848 | 475948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 Incremental Term Loan, 8.134%, 9/13/24 | United States | 1323974 | 1289458 |
|  |  |  | 1765406 |
| &nbsp;&nbsp;&nbsp; **IT Services 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 8.073%, 4/09/27 | United States | 2357161 | 2207269 |
| &nbsp;&nbsp;&nbsp; Dun and Bradstreet Corp., Term Loan, 7.639%, 2/06/26 | United States | 952881 | 945820 |
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2018 Term Loan B, 7.634%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/31/25 | United States | 1161129 | 1131376 |
| &nbsp;&nbsp;&nbsp; Verscend Holding Corp., 2021 Term Loan B, 8.384%, 8/27/25 | United States | 3673730 | 3657657 |
|  |  |  | 7942122 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Leisure Equipment & Products 0.9%** |  |  |  |
| Playtika Holding Corp., 2021 Term Loan, 7.134%, 3/13/28 | United States | 1094444 | 1047246 |
| Varsity Brands Inc., 2017 Term Loan B, 7.884%, 12/15/24 | United States | 792450 | 766002 |
|  |  |  | 1813248 |
| **Machinery 0.8%** |  |  |  |
| Vertical US Newco Inc., Term Loan B, 6.871%, 7/30/27 | Germany | 1700395 | 1640490 |
| **Media 6.2%** |  |  |  |
| AMC Entertainment Holdings Inc., 2019 Term Loan B, 7.274%, 4/22/26 | United States | 244898 | 133903 |
| Cengage Learning Inc., 2021 Term Loan B, 7.814%, 7/14/26 | United States | 1912799 | 1724809 |
| <sup>d</sup> Clear Channel Outdoor Holdings Inc., Term Loan B, TBD, 7.915%, 8/21/26 | United States | 1823085 | 1664704 |
| Diamond Sports Group LLC, 2022 2nd Lien Term Loan, 7.567%, 8/24/26 | United States | 511069 | 65588 |
| Gray Television Inc., 2021 Term Loan D, 7.12%, 12/01/28 | United States | 1089744 | 1060572 |
| McGraw-Hill Global Education Holdings LLC, 2021 Term Loan, 8.316%, 7/28/28 | United States | 1286886 | 1214898 |
| Nexstar Broadcasting Inc., 2019 Term Loan B4, 6.884%, 9/18/26 | United States | 891791 | 886106 |
| Radiate Holdco LLC, 2021 Term Loan B, 7.634%, 9/25/26 | United States | 2058837 | 1681925 |
| Univision Communications Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 First Lien Term Loan B, 7.634%, 3/15/26 | United States | 1653105 | 1630375 |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 Term Loan B, 7.634%, 1/31/29 | United States | 637573 | 620639 |
| Virgin Media Bristol LLC, 2020 USD Term Loan Q, 7.568%, 1/31/29 | United States | 1670000 | 1657893 |
| William Morris Endeavor Entertainment LLC and IMG LLC, 2018 1st Lien Term |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan, 7.14%, 5/18/25 | United States | 586853 | 575703 |
|  |  |  | 12917115 |
| **Office Services & Supplies 1.2%** |  |  |  |
| Prime Security Services Borrower LLC, 2021 Term Loan, 6.505%, 9/23/26 | United States | 2431708 | 2413470 |
| **Personal Products 1.6%** |  |  |  |
| Conair Holdings LLC, Term Loan B, 8.48%, 5/17/28 | United States | 1651332 | 1397439 |
| Sunshine Luxembourg VII SARL, 2021 Term Loan B3, 8.48%, 10/01/26 | Luxembourg | 2020653 | 1940110 |
|  |  |  | 3337549 |
| **Pharmaceuticals 4.2%** |  |  |  |
| Bausch Health Companies Inc., 2022 Term Loan B, 9.667%, 2/01/27 | Canada | 1005326 | 768240 |
| eResearchTechnology Inc., 2020 1st Lien Term Loan, 8.884%, 2/04/27 | United States | 2459669 | 2177569 |
| Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, 6.384%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11/15/27 | United States | 1100000 | 1066087 |
| Jazz Financing Lux S.a.r.l., USD Term Loan, 7.884%, 5/05/28 | United States | 1971915 | 1957589 |
| Organon & Co., USD Term Loan, 7.75%, 6/02/28 | United States | 1408272 | 1398090 |
| Parexel International Corporation, 2021 1st Lien Term Loan, 7.634%, 11/15/28 | United States | 1581597 | 1526684 |
|  |  |  | 8894259 |
| **Real Estate Management & Development 0.6%** |  |  |  |
| Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, 7.134%, 8/21/25 | United States | 1390455 | 1361159 |
| **Retail REITs 1.3%** |  |  |  |
| Great Outdoors Group LLC, 2021 Term Loan B1, 8.134%, 3/06/28 | United States | 1964563 | 1892119 |
| Petco Health and Wellness Company Inc., 2021 Term Loan B, 7.976%, 3/03/28 | United States | 793939 | 771860 |
|  |  |  | 2663979 |
| **Semiconductor Equipment 0.4%** |  |  |  |
| MKS Instruments, Inc., 2022 USD Term Loan B, 7.171%, 8/17/29 | United States | 897750 | 889253 |
| **Soft Drinks 0.4%** |  |  |  |
| Naked Juice LLC, Term Loan, 7.93%, 1/24/29 | United States | 956797 | 860453 |
| **Software 13.2%** |  |  |  |
| Athenahealth Inc., |  |  |  |
| <sup>d</sup> 2022 Delayed Draw Term Loan, TBD, 2/15/29 | United States | 449275 | 406756 |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 Term Loan B, 7.821%, 2/15/29 | United States | 2637471 | 2387861 |
| CDK Global Inc., 2022 USD Term Loan B, 9.08%, 7/06/29 | United Kingdom | 257143 | 255258 |
| Cloudera Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Term Loan, 8.134%, 10/08/28 | United States | 1421340 | 1344722 |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 Second Lien Term Loan, 10.384%, 10/08/29 | United States | 303306 | 254398 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Cornerstone OnDemand Inc., 2021 Term Loan, 8.134%, 10/16/28 | United States | 798483 | 716638 |
| &nbsp;&nbsp;&nbsp; DCert Buyer Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B, 8.696%, 10/16/26 | United States | 2666065 | 2581324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, 11.696%, 2/19/29 | United States | 1000000 | 917000 |
| &nbsp;&nbsp;&nbsp; Epicor Software Corporation, 2020 Term Loan, 7.634%, 7/30/27 | United States | 1699100 | 1635282 |
| &nbsp;&nbsp;&nbsp; Finastra USA Inc., USD 1st Lien Term Loan, 6.871%, 6/13/24 | United States | 1234352 | 1094969 |
| &nbsp;&nbsp;&nbsp; GoTo Group Inc., Term Loan B, 9.139%, 8/31/27 | United States | 1867883 | 1210388 |
| &nbsp;&nbsp;&nbsp; Hyland Software Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2018 1st Lien Term Loan, 7.884%, 7/01/24 | United States | 2784269 | 2752598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, 10.634%, 7/07/25 | United States | 30303 | 28818 |
| &nbsp;&nbsp;&nbsp; Idera Inc., 2021 Term Loan, 7.50%, 3/02/28 | United States | 1234150 | 1167043 |
| &nbsp;&nbsp;&nbsp; Ivanti Software Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Add On Term Loan B, 8.733%, 12/01/27 | United States | 138943 | 110026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 9.011%, 12/01/27 | United States | 1284791 | 1023150 |
| &nbsp;&nbsp;&nbsp; Mitchell International Inc., 2021 Term Loan B, 8.415%, 10/15/28 | United States | 1182057 | 1092795 |
| &nbsp;&nbsp;&nbsp; Navicure Inc., 2019 Term Loan B, 8.384%, 10/22/26 | United States | 3174845 | 3127222 |
| &nbsp;&nbsp;&nbsp; Polaris Newco LLC, USD Term Loan B, 8.73%, 6/02/28 | United States | 2182278 | 1996785 |
| &nbsp;&nbsp;&nbsp; Quest Software US Holdings Inc., 2022 Term Loan, 8.494%, 2/01/29 | United States | 598500 | 464400 |
| &nbsp;&nbsp;&nbsp; Sovos Compliance LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Delayed Draw Term Loan, 8.571%, 8/11/28 | United States | 257088 | 237485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 8.884%, 8/11/28 | United States | 1477546 | 1364883 |
| &nbsp;&nbsp;&nbsp; The Ultimate Software Group Inc., 2021 2nd Lien Term Loan, 10.032%, 5/03/27 | United States | 570096 | 526057 |
| &nbsp;&nbsp;&nbsp; Ultimate Software Group Inc. (The), |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, 6.998%, 5/04/26 | United States | 658130 | 627691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 8.134%, 5/04/26 | United States | 296931 | 286856 |
|  |  |  | 27610405 |
| &nbsp;&nbsp;&nbsp; **Specialty Chemicals 0.2%** |  |  |  |
| <sup>d</sup> INEOS US Finance LLC, 2022 USD Term Loan B, TBD, 11/08/27 | United States | 480000 | 473400 |
| &nbsp;&nbsp;&nbsp; **Specialty Retail 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Michaels Companies Inc., 2021 Term Loan B, 8.98%, 4/15/28 | United States | 1686072 | 1461732 |
| &nbsp;&nbsp;&nbsp; PetSmart Inc., 2021 Term Loan B, 8.13%, 2/11/28 | United States | 1323024 | 1298627 |
| &nbsp;&nbsp;&nbsp; SRS Distribution Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, 7.884%, 6/02/28 | United States | 371883 | 356444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan, 7.923%, 6/02/28 | United States | 78949 | 75643 |
| &nbsp;&nbsp;&nbsp; Staples Inc., 7 Year Term Loan, 9.44%, 4/16/26 | United States | 1233029 | 1143462 |
|  |  |  | 4335908 |
| &nbsp;&nbsp;&nbsp; **Technology Hardware, Storage & Peripherals 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, 8.384%, 12/01/27 | United States | 3345647 | 3219500 |
| &nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CCI Buyer Inc., Term Loan, 8.58%, 12/17/27 | United States | 1483887 | 1421564 |
| &nbsp;&nbsp;&nbsp; **Total Floating Rate Loans (Cost $199,762,184)** |  |  | 187785882 |
| &nbsp;&nbsp;&nbsp; **Asset-Backed Securities 0.9%** |  |  |  |
| <sup>a,e</sup> BlueMountain CLO Ltd., Series 2018-3A, C, 144A, 6.558%, 10/25/30 | United States | 1000000 | 929079 |
| <sup>a,e</sup> LCM XVIII LP, Series 2018-A, CR, 144A, 6.093%, 4/20/31 | United States | 1000000 | 908526 |
| &nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities (Cost $1,996,875)** |  |  | 1837605 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term Investments (Cost $211,019,859)** |  |  | 197287729 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-Term Investments 2.8%** |  |  |  |
| **U.S. Government & Agency Securities 2.8%** |  |  |  |
| <sup>f</sup> Federal Home Loan Bank Discount Notes, 01/3/23 | United States | 5795000.0 | 5795000 |
| **Total Short-Term Investments (Cost $5,793,744)** |  |  | 5795000 |
| **Total Investments (Cost $216,813,603) 97.1%** |  |  | 203082729 |
| **Other Assets, less Liabilities 2.9%** |  |  | 6131496 |
| **Net Assets 100.0%** |  |  | $209214225 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $9,365,979, representing 4.5% of net assets.<br> <sup>b</sup>Defaulted securities.<br> <sup>c</sup>The coupon rate shown represents the rate at period end.<br> <sup>d</sup>A portion or all of the security represents an unsettled loan commitment. The coupon rate is to-be determined (TBD) at the time of settlement and will be based upon a<br> reference index/floor plus a spread.<br> <sup>e</sup>The coupon rate shown represents the rate inclusive of any caps or floors, if applicable, in effect at period end.<br> <sup>f</sup>The security was issued on a discount basis with no stated coupon rate.<br>**Abbreviations**<br>**Selected Portfolio**

 **CLO** – Collateralized Loan Obligation<br> **REIT** – Real Estate Investment Trust<br> **TBD** – To be determined<br> **USD** – Unified/Union School District

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin Systematic Style Premia ETF** | **Country** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 53.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Aerospace & Defense 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC | United Kingdom | 18544 | $190944 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | United States | 1426 | 353805 |
| &nbsp;&nbsp;&nbsp; Thales SA | France | 454 | 57805 |
|  |  |  | 602554 |
| &nbsp;&nbsp;&nbsp; **Air Freight & Logistics 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington Inc. | United States | 1091 | 113377 |
| &nbsp;&nbsp;&nbsp; **Airlines 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Singapore Airlines Ltd. | Singapore | 9000 | 37109 |
| &nbsp;&nbsp;&nbsp; **Automobiles 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Stellantis NV | United States | 14559 | 206097 |
| &nbsp;&nbsp;&nbsp; **Banks 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | Spain | 43470 | 261380 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | Spain | 86401 | 258422 |
| &nbsp;&nbsp;&nbsp; Barclays PLC | United Kingdom | 60036 | 114479 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | Spain | 29440 | 115374 |
| &nbsp;&nbsp; <sup>a</sup> Commerzbank AG | Germany | 7089 | 66851 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC | United Kingdom | 44949 | 278835 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | United Kingdom | 32298 | 103033 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp. Ltd. | Singapore | 21000 | 190710 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | France | 4793 | 120108 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | United Kingdom | 16402 | 122799 |
|  |  |  | 1631991 |
| &nbsp;&nbsp;&nbsp; **Beverages 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>b</sup> Budweiser Brewing Co. APAC Ltd., H, 144A | China | 12600 | 39633 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co. Ltd. | Japan | 4200 | 64013 |
|  |  |  | 103646 |
| &nbsp;&nbsp;&nbsp; **Biotechnology 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; AbbVie Inc. | United States | 4534 | 732740 |
| &nbsp;&nbsp;&nbsp; Amgen Inc. | United States | 1954 | 513199 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences Inc. | United States | 8399 | 721054 |
| &nbsp;&nbsp; <sup>a</sup> Moderna Inc. | United States | 2562 | 460186 |
| &nbsp;&nbsp; <sup>a</sup> Regeneron Pharmaceuticals Inc. | United States | 737 | 531738 |
| &nbsp;&nbsp; <sup>a</sup> Vertex Pharmaceuticals Inc. | United States | 1828 | 527890 |
|  |  |  | 3486807 |
| &nbsp;&nbsp;&nbsp; **Building Products 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Carlisle Companies Inc. | United States | 343 | 80828 |
| &nbsp;&nbsp;&nbsp; Compagnie de Saint-Gobain | France | 2968 | 144601 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | United States | 3900 | 249600 |
| &nbsp;&nbsp;&nbsp; Owens Corning | United States | 675 | 57577 |
|  |  |  | 532606 |
| &nbsp;&nbsp;&nbsp; **Capital Markets 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | United Kingdom | 6950 | 112152 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial Inc. | United States | 763 | 237575 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG | Germany | 11111 | 125555 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings Inc. | United States | 565 | 122136 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial Inc. | United States | 1331 | 142217 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | United States | 725 | 42268 |
| &nbsp;&nbsp;&nbsp; The Carlyle Group Inc. | United States | 1235 | 36852 |
| &nbsp;&nbsp;&nbsp; UBS Group AG | Switzerland | 23534 | 437638 |
|  |  |  | 1256393 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Chemicals 1.4%** |  |  |  |
| Albemarle Corp. | United States | 820 | 177825 |
| CF Industries Holdings Inc. | United States | 1429 | 121751 |
| Corteva Inc. | United States | 5213 | 306420 |
| FMC Corp. | United States | 870 | 108576 |
| LyondellBasell Industries NV, A | United States | 1519 | 126123 |
| Nitto Denko Corp. | Japan | 900 | 52181 |
| Nutrien Ltd. | Canada | 3700 | 269932 |
| The Mosaic Co. | United States | 2453 | 107613 |
|  |  |  | 1270421 |
| **Commercial Services & Supplies 0.3%** |  |  |  |
| Cintas Corp. | United States | 558 | 252004 |
| **Communications Equipment 0.2%** |  |  |  |
| <sup>a</sup> Arista Networks Inc. | United States | 1705 | 206902 |
| **Construction Materials 0.2%** |  |  |  |
| <sup>a</sup> Holcim AG, B | United States | 3193 | 165241 |
| **Containers & Packaging 0.0%<sup>†</sup>** |  |  |  |
| CCL Industries Inc., B | Canada | 1000 | 42688 |
| **Distributors 0.2%** |  |  |  |
| Genuine Parts Co. | United States | 957 | 166049 |
| LKQ Corp. | United States | 890 | 47535 |
|  |  |  | 213584 |
| **Diversified Financial Services 0.1%** |  |  |  |
| Equitable Holdings Inc. | United States | 2612 | 74964 |
| **Diversified Telecommunication Services 1.5%** |  |  |  |
| AT&T Inc. | United States | 39953 | 735535 |
| Deutsche Telekom AG | Germany | 19921 | 396257 |
| <sup>a</sup> Liberty Global PLC, C | United Kingdom | 2016 | 39171 |
| Nippon Telegraph & Telephone Corp. | Japan | 7700 | 219541 |
|  |  |  | 1390504 |
| **Electric Utilities 0.3%** |  |  |  |
| Endesa SA | Spain | 2131 | 40107 |
| NRG Energy Inc. | United States | 1667 | 53044 |
| <sup>a</sup> PG&E Corp. | United States | 10380 | 168779 |
|  |  |  | 261930 |
| **Electrical Equipment 0.6%** |  |  |  |
| AMETEK Inc. | United States | 1392 | 194490 |
| Emerson Electric Co. | United States | 1338 | 128528 |
| Fuji Electric Co. Ltd. | Japan | 900 | 34310 |
| Mitsubishi Electric Corp. | Japan | 12200 | 121450 |
| Prysmian SpA | Italy | 1768 | 65400 |
|  |  |  | 544178 |
| **Electronic Equipment, Instruments & Components 0.3%** |  |  |  |
| <sup>a</sup> Arrow Electronics Inc. | United States | 363 | 37959 |
| <sup>a</sup> Keysight Technologies Inc. | United States | 1107 | 189375 |
| TDK Corp. | Japan | 2700 | 88707 |
|  |  |  | 316041 |
| **Entertainment 0.1%** |  |  |  |
| <sup>a</sup> Liberty Media Corp-Liberty Formula One, C | United States | 1269 | 75861 |
| <sup>a</sup> Live Nation Entertainment Inc. | United States | 713 | 49724 |
|  |  |  | 125585 |
| **Equity Real Estate Investment Trusts (REITs) 0.9%** |  |  |  |
| Gaming and Leisure Properties Inc. | United States | 1783 | 92876 |
| Goodman Group | Australia | 9944 | 117068 |
| Host Hotels & Resorts Inc. | United States | 4374 | 70203 |
| Iron Mountain Inc. | United States | 1815 | 90478 |
| Link REIT | Hong Kong | 15200 | 111591 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Public Storage | United States | 1081 | 302885 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | United States | 1134 | 35154 |
|  |  |  | 820255 |
| &nbsp;&nbsp;&nbsp; **Food & Staples Retailing 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Alimentation Couche-Tard Inc. | Canada | 7500 | 329348 |
| &nbsp;&nbsp;&nbsp; George Weston Ltd. | Canada | 400 | 49593 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | Portugal | 1872 | 40317 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | Netherlands | 2262 | 64795 |
| &nbsp;&nbsp;&nbsp; Loblaw Cos. Ltd | Canada | 1100 | 97193 |
| &nbsp;&nbsp;&nbsp; The Kroger Co. | United States | 4748 | 211666 |
| &nbsp;&nbsp;&nbsp; Walmart Inc. | United States | 2605 | 369363 |
|  |  |  | 1162275 |
| &nbsp;&nbsp;&nbsp; **Food Products 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | United States | 3959 | 367593 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings Inc. | United States | 1027 | 91773 |
| &nbsp;&nbsp;&nbsp; The Hershey Co. | United States | 903 | 209108 |
| &nbsp;&nbsp;&nbsp; Yakult Honsha Co. Ltd. | Japan | 800 | 51900 |
|  |  |  | 720374 |
| &nbsp;&nbsp;&nbsp; **Gas Utilities 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | Japan | 2700 | 52897 |
| &nbsp;&nbsp;&nbsp; **Health Care Equipment & Supplies 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Hologic Inc. | United States | 1516 | 113412 |
| &nbsp;&nbsp;&nbsp; **Health Care Providers & Services 1.5%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Centene Corp. | United States | 3963 | 325006 |
| &nbsp;&nbsp;&nbsp; Cigna Corp. | United States | 2143 | 710062 |
| &nbsp;&nbsp;&nbsp; Humana Inc. | United States | 69 | 35341 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | United States | 962 | 360865 |
|  |  |  | 1431274 |
| &nbsp;&nbsp;&nbsp; **Health Care Technology 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Veeva Systems Inc., A | United States | 823 | 132816 |
| &nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Aramark | United States | 1392 | 57545 |
| &nbsp;&nbsp; <sup>a</sup> Booking Holdings Inc. | United States | 207 | 417163 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | United Kingdom | 10748 | 247909 |
| &nbsp;&nbsp;&nbsp; Galaxy Entertainment Group Ltd. | Macau | 16000 | 105779 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | United States | 2746 | 723654 |
| &nbsp;&nbsp; <sup>a</sup> Sands China Ltd. | Macau | 18000 | 59731 |
|  |  |  | 1611781 |
| &nbsp;&nbsp;&nbsp; **Household Durables 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Sekisui Chemical Co. Ltd. | Japan | 2600 | 36356 |
| &nbsp;&nbsp;&nbsp; Sekisui House Ltd. | Japan | 4000 | 70741 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co. Ltd. | Hong Kong | 10000 | 111596 |
|  |  |  | 218693 |
| &nbsp;&nbsp;&nbsp; **Independent Power Producers & Energy Traders 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Northland Power Inc. | Canada | 1300 | 35624 |
| &nbsp;&nbsp;&nbsp; The AES Corp. | United States | 4541 | 130599 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | United States | 2648 | 61434 |
|  |  |  | 227657 |
| &nbsp;&nbsp;&nbsp; **Industrial Conglomerates 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Hitachi Ltd. | Japan | 1000 | 50710 |
| &nbsp;&nbsp;&nbsp; Jardine Matheson Holdings Ltd. | Hong Kong | 1100 | 55990 |
| &nbsp;&nbsp;&nbsp; Keppel Corp. Ltd. | Singapore | 9000 | 48718 |
|  |  |  | 155418 |
| &nbsp;&nbsp;&nbsp; **Insurance 3.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Aflac Inc. | United States | 3870 | 278408 |
| &nbsp;&nbsp;&nbsp; AIA Group Ltd. | Hong Kong | 70600 | 785153 |
| &nbsp;&nbsp;&nbsp; American Financial Group Inc. | United States | 451 | 61913 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| American International Group Inc. | United States | 5369 | 339535 |
| <sup>a</sup> Arch Capital Group Ltd. | United States | 2336 | 146654 |
| AXA SA | France | 11521 | 320367 |
| Chubb Ltd. | United States | 2648 | 584149 |
| Erie Indemnity Co., A | United States | 169 | 42034 |
| Fairfax Financial Holdings Ltd. | Canada | 200 | 118391 |
| Fidelity National Financial Inc. | United States | 1723 | 64819 |
| Hartford Financial Services Group Inc. | United States | 2062 | 156361 |
| MetLife Inc. | United States | 4269 | 308947 |
| Principal Financial Group Inc. | United States | 1705 | 143084 |
| Sompo Holdings Inc. | Japan | 2000 | 88825 |
| W R Berkley Corp. | United States | 1459 | 105880 |
|  |  |  | 3544520 |
| **Interactive Media & Services 2.2%** |  |  |  |
| <sup>a</sup> Alphabet Inc., A | United States | 2612 | 230457 |
| <sup>a</sup> Alphabet Inc., C | United States | 8654 | 767869 |
| <sup>b</sup> Auto Trader Group PLC, 144A | United Kingdom | 5790 | 35911 |
| <sup>a</sup> Meta Platforms Inc., A | United States | 7394 | 889794 |
| <sup>a</sup> Pinterest Inc., A | United States | 3812 | 92555 |
|  |  |  | 2016586 |
| **Internet & Direct Marketing Retail 0.7%** |  |  |  |
| <sup>a</sup> Amazon.com Inc. | United States | 2180 | 183120 |
| eBay Inc. | United States | 3499 | 145104 |
| <sup>a</sup> MercadoLibre Inc. | Brazil | 331 | 280105 |
|  |  |  | 608329 |
| **IT Services 1.6%** |  |  |  |
| Accenture PLC, A | United States | 1778 | 474442 |
| Capgemini SE | France | 840 | 139808 |
| <sup>a</sup> CGI Inc., A | Canada | 1400 | 120590 |
| <sup>a</sup> EPAM Systems Inc. | United States | 409 | 134046 |
| <sup>a</sup> Gartner Inc. | United States | 544 | 182860 |
| Mastercard Inc., A | United States | 596 | 207247 |
| Paychex Inc. | United States | 1940 | 224186 |
| TIS Inc. | Japan | 1600 | 42199 |
|  |  |  | 1525378 |
| **Life Sciences Tools & Services 0.9%** |  |  |  |
| Agilent Technologies Inc. | United States | 2091 | 312918 |
| <sup>a</sup> IQVIA Holdings Inc. | United States | 709 | 145267 |
| <sup>a</sup> Mettler-Toledo International Inc. | United States | 154 | 222599 |
| Sartorius Stedim Biotech | France | 194 | 62632 |
| <sup>a</sup> Waters Corp. | United States | 331 | 113394 |
|  |  |  | 856810 |
| **Machinery 1.3%** |  |  |  |
| CNH Industrial NV | United Kingdom | 6425 | 102616 |
| Cummins Inc. | United States | 870 | 210792 |
| Fortive Corp. | United States | 2096 | 134668 |
| IDEX Corp. | United States | 459 | 104803 |
| Komatsu Ltd. | Japan | 5900 | 128602 |
| Mitsubishi Heavy Industries Ltd. | Japan | 2300 | 91237 |
| Nordson Corp. | United States | 310 | 73693 |
| PACCAR Inc. | United States | 2340 | 231590 |
| Snap-on Inc. | United States | 363 | 82942 |
|  |  |  | 1160943 |
| **Marine 0.0%<sup>†</sup>** |  |  |  |
| AP Moller - Maersk A/S, A | Denmark | 22 | 48529 |
| **Media 0.1%** |  |  |  |
| Publicis Groupe SA | France | 1326 | 84090 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;**Metals & Mining 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | Luxembourg | 3223 | 84532 |
| &nbsp;&nbsp;&nbsp;BHP Group Ltd. | Australia | 23952 | 741170 |
| &nbsp;&nbsp;&nbsp;BlueScope Steel Ltd. | Australia | 3144 | 35905 |
| <sup>a</sup> Cleveland-Cliffs Inc. | United States | 2795 | 45027 |
| &nbsp;&nbsp;&nbsp;Glencore PLC | Australia | 66085 | 439123 |
| &nbsp;&nbsp;&nbsp;Mineral Resources Ltd. | Australia | 797 | 41725 |
| &nbsp;&nbsp;&nbsp;Nippon Steel Corp. | Japan | 5800 | 100751 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | United States | 1865 | 245826 |
| <sup>a</sup> Pilbara Minerals Ltd. | Australia | 17737 | 45106 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | United States | 1294 | 126424 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd., B | Canada | 3400 | 128402 |
|  |  |  | 2033991 |
| &nbsp;&nbsp;&nbsp;**Multiline Retail 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Dollarama Inc. | Canada | 1900 | 111045 |
| &nbsp;&nbsp;&nbsp;**Multi-Utilities 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. | United States | 782 | 74532 |
| &nbsp;&nbsp;&nbsp;Engie SA | France | 12973 | 185363 |
| &nbsp;&nbsp;&nbsp;RWE AG | Germany | 4438 | 196989 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | United States | 1832 | 283117 |
|  |  |  | 740001 |
| &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels 3.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;APA Corp. | United States | 2020 | 94294 |
| &nbsp;&nbsp;&nbsp;ARC Resources Ltd. | Canada | 4700 | 63305 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | United States | 3219 | 198001 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | United States | 2206 | 74629 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | United States | 7533 | 830890 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | United States | 1118 | 58013 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | United States | 3436 | 399916 |
| &nbsp;&nbsp;&nbsp;OMV AG | Austria | 903 | 46355 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | United States | 3022 | 314530 |
| &nbsp;&nbsp;&nbsp;Shell PLC | Netherlands | 12419 | 347477 |
| &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | Canada | 6700 | 212381 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | United States | 41 | 96113 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | France | 1195 | 74800 |
| &nbsp;&nbsp;&nbsp;Tourmaline Oil Corp. | Canada | 2100 | 105887 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | United States | 2685 | 340619 |
|  |  |  | 3257210 |
| &nbsp;&nbsp;&nbsp;**Personal Products 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Beiersdorf AG | Germany | 587 | 67158 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | France | 366 | 130309 |
|  |  |  | 197467 |
| &nbsp;&nbsp;&nbsp;**Pharmaceuticals 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bayer AG | Germany | 1899 | 97941 |
| &nbsp;&nbsp;&nbsp;Pfizer Inc. | United States | 8898 | 455933 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG, Bearer | Switzerland | 151 | 58494 |
|  |  |  | 612368 |
| &nbsp;&nbsp;&nbsp;**Professional Services 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. | United States | 886 | 92605 |
| <sup>a</sup> CoStar Group Inc. | United States | 2797 | 216152 |
| &nbsp;&nbsp;&nbsp;Randstad NV | Netherlands | 819 | 49788 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co. Ltd. | Japan | 1100 | 34823 |
| &nbsp;&nbsp;&nbsp;Robert Half International Inc. | United States | 692 | 51090 |
|  |  |  | 444458 |
| &nbsp;&nbsp;&nbsp;**Real Estate Investment Trusts (REITs) 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Simon Property Group Inc. | United States | 2257 | 265152 |
| &nbsp;&nbsp;&nbsp;**Real Estate Management & Development 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings Ltd. | Hong Kong | 14500 | 89267 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings Ltd., A | United Kingdom | 19500 | 117051 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Daito Trust Construction Co. Ltd. | Japan | 400.0 | 41047 |
| Sun Hung Kai Properties Ltd. | Hong Kong | 10500.0 | 143678 |
| Wharf Real Estate Investment Co. Ltd. | Hong Kong | 12000.0 | 69956 |
|  |  |  | 460999 |
| **Road & Rail 0.9%** |  |  |  |
| Canadian National Railway Co. | Canada | 3500.0 | 415469 |
| Hankyu Hanshin Holdings Inc. | Japan | 1500.0 | 44564 |
| JB Hunt Transport Services Inc. | United States | 494.0 | 86134 |
| Kintetsu Group Holdings Co. Ltd. | Japan | 1100.0 | 36307 |
| Knight-Swift Transportation Holdings Inc. | United States | 910.0 | 47693 |
| Old Dominion Freight Line Inc. | United States | 636.0 | 180484 |
| TFI International Inc. | Canada | 600.0 | 60051 |
|  |  |  | 870702 |
| **Semiconductors & Semiconductor Equipment 4.0%** |  |  |  |
| Broadcom Inc. | United States | 1385.0 | 774395 |
| <sup>a</sup> Enphase Energy Inc. | United States | 899.0 | 238199 |
| Infineon Technologies AG | Germany | 6997.0 | 212302 |
| KLA Corp. | United States | 922.0 | 347622 |
| Microchip Technology Inc. | United States | 3760.0 | 264140 |
| <sup>a</sup> ON Semiconductor Corp. | United States | 3088.0 | 192599 |
| QUALCOMM Inc. | United States | 5795.0 | 637102 |
| <sup>a</sup> Renesas Electronics Corp. | Japan | 8400.0 | 75345 |
| Rohm Co. Ltd. | Japan | 600.0 | 43336 |
| STMicroelectronics NV | Switzerland | 4511.0 | 158850 |
| Texas Instruments Inc. | United States | 4364.0 | 721020 |
|  |  |  | 3664910 |
| **Software 3.3%** |  |  |  |
| <sup>a</sup> Autodesk Inc. | United States | 1478.0 | 276194 |
| Bentley Systems Inc., B | United States | 1384.0 | 51153 |
| <sup>a</sup> Cadence Design Systems Inc. | United States | 1843.0 | 296059 |
| <sup>a</sup> Dropbox Inc., A | United States | 1927.0 | 43126 |
| <sup>a</sup> Fair Isaac Corp. | United States | 181.0 | 108343 |
| <sup>a</sup> Fortinet Inc. | United States | 4574.0 | 223623 |
| Intuit Inc. | United States | 527.0 | 205119 |
| Microsoft Corp. | United States | 5191.0 | 1244906 |
| <sup>a</sup> Paycom Software Inc. | United States | 266.0 | 82542 |
| <sup>a</sup> Synopsys Inc. | United States | 1069.0 | 341321 |
| Trend Micro Inc. | Japan | 800.0 | 37228 |
| <sup>a</sup> VMware Inc., A | United States | 1423.0 | 174687 |
|  |  |  | 3084301 |
| **Specialty Retail 2.0%** |  |  |  |
| <sup>a</sup> AutoZone Inc. | United States | 66.0 | 162768 |
| Lowe's Companies Inc. | United States | 3553.0 | 707900 |
| <sup>a</sup> O'Reilly Automotive Inc. | United States | 44.0 | 37137 |
| The Home Depot Inc. | United States | 2351.0 | 742587 |
| <sup>a</sup> Ulta Beauty Inc. | United States | 360.0 | 168865 |
|  |  |  | 1819257 |
| **Technology Hardware, Storage & Peripherals 0.3%** |  |  |  |
| Dell Technologies Inc., C | United States | 1696.0 | 68213 |
| HP Inc. | United States | 6424.0 | 172613 |
|  |  |  | 240826 |
| **Textiles, Apparel & Luxury Goods 0.6%** |  |  |  |
| Burberry Group PLC | United Kingdom | 2653.0 | 64783 |
| Cie Financiere Richemont SA | Switzerland | 2543.0 | 329557 |
| Gildan Activewear Inc. | Canada | 1300.0 | 35576 |
| LVMH Moet Hennessy Louis Vuitton SE | France | 168.0 | 121905 |
|  |  |  | 551821 |
| **Tobacco 0.2%** |  |  |  |
| Imperial Brands PLC | United Kingdom | 5946.0 | 148127 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | Japan | 7300 | 229382 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | Japan | 11200 | 128599 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | Japan | 8300 | 269422 |
| &nbsp;&nbsp;&nbsp;Mitsui & Co. Ltd. | Japan | 9700 | 283255 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | Japan | 8100 | 134811 |
| &nbsp;&nbsp;&nbsp;Toyota Tsusho Corp. | Japan | 1500 | 55534 |
| <sup>a</sup> United Rentals Inc. | United States | 416 | 147855 |
| &nbsp;&nbsp;&nbsp;W.W. Grainger Inc. | United States | 279 | 155194 |
|  |  |  | 1404052 |
| &nbsp;&nbsp;&nbsp;**Water Utilities 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | United States | 1517 | 72406 |
| &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | Japan | 10000 | 301792 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $45,256,329)** |  |  | 49607544 |
| &nbsp;&nbsp;&nbsp;**Total Investments before Short-Term Investments** |  |  |  |
| **(Cost $45,256,329)** |  |  | 49607544 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 29.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Discount Note 29.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 3/02/23 | United States | 27000000 | 26815827 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (Cost $26,809,050)** |  |  | 26815827 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $72,065,379) 82.5%** |  |  | 76423371 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 17.5%** |  |  | 16231946 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $92655317 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional | <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional |
| buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $75,544, representing 0.1% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $75,544, representing 0.1% of net assets. | buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $75,544, representing 0.1% of net assets. |  |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. | At December 31, 2022, the Fund had the following total return equity swap contracts outstanding. |  |  |  |
| **Swaps** |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | **Notional** |  | **Unrealized** |
|  |  |  | **Payment** |  |  | **Maturity** | **Amount** |  | **Appreciation** |
| **Description** | **Financing Rate Frequency** | **Financing Rate Frequency** | **Financing Rate Frequency** | **Counterparty** |  | **Date** | **(000** | **)s** | **(Depreciation)** |
| **OTC Swap Contracts Short** |  |  |  |  |  |  |  |  |  |
| MSFTLSSP | 1-month USD LIBOR At Maturity | 1-month USD LIBOR At Maturity | 1-month USD LIBOR At Maturity | MSCS |  | 1/19/23 | 37099 |  | 748091 |
| At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. | At December 31, 2022 the Fund had the following forward exchange contracts outstanding. |  |  |  |
| **Forward Exchange Contracts** |  |  |  |  |  |  |  |  |  |
|  |  |  |  | **Contract Settlement** | **Contract Settlement** | **Contract Settlement** | **Unrealized** |  | **Unrealized** |
| **Currency** | **Counterparty<sup>a</sup>** | **Type** | **Quantity** | **Amount** |  | **Date Appreciation** | **Date Appreciation** |  | **Depreciation** |
| **OTC Forward Exchange Contracts** |  |  |  |  |  |  |  |  |  |
| Australian Dollar | MSCO | Buy | 4132242 | 4132242 | $2808048 | 3/15/23 | $2281 |  | $— |
| Brazilian Real | MSCO | Buy | 4232904 | 785471 |  | 3/15/23 | 5922 |  |  |
| Canadian Dollar | MSCO | Buy | 1575322 | 1161553 |  | 3/15/23 | 1760 |  |  |
| Czech Koruna | MSCO | Sell | 25078408 | 1092553 |  | 3/15/23 |  |  | (11326) |
| Euro | MSCO | Buy | 1346660 | 1439685 |  | 3/15/23 | 4423 |  |  |
| Great British Pound | MSCO | Buy | 1508753 | 1866189 |  | 3/15/23 |  |  | (48111) |
| Israeli Shekel | MSCO | Sell | 10972194 | 3211875 |  | 3/15/23 | 90266 |  |  |
| Japanese Yen | MSCO | Sell | 9912945 | 73427 |  | 3/15/23 |  |  | (2408) |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| **Forward Exchange Contracts** (continued) |  |  |  |  |  |  |  |
| **OTC Forward Exchange Contracts** (continued) | **OTC Forward Exchange Contracts** (continued) |  |  |  |  |  |  |
| Mexican Peso | MSCO | Buy | 61847107 | $3086890 | 3/15/23 | $46739 | $— |
| New Zealand Dollar | MSCO | Sell | 3999924 | 2553839 | 3/15/23 | 22030 |  |
| Norwegian Krone | MSCO | Buy | 11038177 | 1130042 | 3/15/23 |  | (6159) |
| Polish Zloty | MSCO | Sell | 7628054 | 1715082 | 3/15/23 |  | (13677) |
| South African Rand | MSCO | Buy | 33318064 | 1912822 | 3/15/23 | 33693 |  |
| South Korean Won | MSCO | Sell | 3724406791 | 2845307 | 3/15/23 |  | (105718) |
| Swedish Krona | MSCO | Sell | 9222020 | 903152 | 3/15/23 | 14523 |  |
| Swicc Franc | MSCO | Sell | 15392 | 16737 | 3/15/23 |  | (26) |
| Hungarian Forint | MSCO | Sell | 417358170 | 1066559 | 3/16/23 |  | (23525) |
| &nbsp;&nbsp;&nbsp; Total Forward Exchange Contracts |  |  |  |  |  | $221637 | $(210950) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation (depreciation) |  |  |  |  |  |  | $10687 |
| <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. | <sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date. |  |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** | **Value/Unrealized** |
|  |  |  | **Number of** | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Commodity Contracts** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brent Crude, December |  |  | Long | 8 | $687280 | 1/31/23 | $27507 |
| &nbsp;&nbsp;&nbsp; Brent Crude, February |  |  | Long | 2 | 170540 | 3/31/23 | 7105 |
| &nbsp;&nbsp;&nbsp; Cocoa, July |  |  | Long | 12 | 312000 | 7/14/23 | 15724 |
| &nbsp;&nbsp;&nbsp; Coffee 'C', July |  |  | Long | 3 | 187425 | 7/19/23 | 5672 |
| &nbsp;&nbsp;&nbsp; Copper, July |  |  | Long | 2 | 190800 | 7/27/23 | 2583 |
| &nbsp;&nbsp;&nbsp; Corn, July |  |  | Long | 9 | 302288 | 7/14/23 | 7661 |
| &nbsp;&nbsp;&nbsp; Corn, March |  |  | Long | 4 | 135700 | 3/14/23 | 2138 |
| &nbsp;&nbsp;&nbsp; Cotton No. 2, July |  |  | Long | 3 | 125070 | 7/07/23 | (149) |
| &nbsp;&nbsp;&nbsp; Gasoline Rbob, January |  |  | Long | 7 | 728620 | 1/31/23 | 72795 |
| &nbsp;&nbsp;&nbsp; Gasoline Rbob, March |  |  | Long | 1 | 110498 | 3/31/23 | 9154 |
| &nbsp;&nbsp;&nbsp; Gold 100 Ounce, June |  |  | Long | 2 | 371540 | 6/28/23 | 8255 |
| &nbsp;&nbsp;&nbsp; Lean Hog, February |  |  | Long | 6 | 210480 | 2/14/23 | (7234) |
| &nbsp;&nbsp;&nbsp; Lean Hog, June |  |  | Long | 7 | 305690 | 6/14/23 | 7820 |
| &nbsp;&nbsp;&nbsp; Live Cattle, June |  |  | Long | 14 | 883820 | 6/30/23 | 20179 |
| &nbsp;&nbsp;&nbsp; Low Sulphur Gasoil, April |  |  | Long | 1 | 85500 | 4/12/23 | (302) |
| &nbsp;&nbsp;&nbsp; Low Sulphur Gasoil, February |  |  | Long | 9 | 815400 | 2/10/23 | (4965) |
| &nbsp;&nbsp;&nbsp; Natural Gas, January |  |  | Long | 7 | 313250 | 1/27/23 | (132867) |
| &nbsp;&nbsp;&nbsp; Natural Gas, March |  |  | Long | 1 | 39170 | 3/29/23 | (13122) |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD, January |  |  | Long | 6 | 830340 | 1/31/23 | 20490 |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD, March |  |  | Long | 1 | 128524 | 3/31/23 | 2833 |
| &nbsp;&nbsp;&nbsp; Platinum |  |  | Long | 17 | 920465 | 4/26/23 | 43294 |
| &nbsp;&nbsp;&nbsp; Silver, July |  |  | Long | 1 | 121925 | 7/27/23 | 14963 |
| &nbsp;&nbsp;&nbsp; Silver, March |  |  | Long | 2 | 240400 | 3/29/23 | 6133 |
| &nbsp;&nbsp;&nbsp; Soybean Meal, July |  |  | Long | 4 | 181720 | 7/14/23 | 3588 |
| &nbsp;&nbsp;&nbsp; Soybean Meal, March |  |  | Long | 29 | 1365900 | 3/14/23 | 31865 |
| &nbsp;&nbsp;&nbsp; Soybean Oil, July |  |  | Long | 4 | 152544 | 7/14/23 | 3894 |
| &nbsp;&nbsp;&nbsp; Soybean Oil, March |  |  | Long | 23 | 884166 | 3/14/23 | 20453 |
| &nbsp;&nbsp;&nbsp; Soybean, July |  |  | Long | 3 | 229988 | 7/14/23 | 6279 |
| &nbsp;&nbsp;&nbsp; Soybean, March |  |  | Long | 10 | 762000 | 3/14/23 | 19258 |
| &nbsp;&nbsp;&nbsp; Sugar No. 11, February |  |  | Long | 7 | 157114 | 2/28/23 | 926 |
| &nbsp;&nbsp;&nbsp; Sugar No. 11, June |  |  | Long | 18 | 362477 | 6/30/23 | 10659 |
| &nbsp;&nbsp;&nbsp; Wheat, July |  |  | Long | 4 | 160600 | 7/14/23 | (5537) |
| &nbsp;&nbsp;&nbsp; WTI Crude, January |  |  | Long | 8 | 642080 | 1/20/23 | 26491 |
| &nbsp;&nbsp;&nbsp; WTI Crude, March |  |  | Long | 2 | 161060 | 3/21/23 | 7175 |
| &nbsp;&nbsp;&nbsp; Cocoa, March |  |  | Short | 16 | 416000 | 3/16/23 | (23843) |
| &nbsp;&nbsp;&nbsp; Coffee 'C', March |  |  | Short | 37 | 2321288 | 3/21/23 | (146266) |
| &nbsp;&nbsp;&nbsp; Copper, March |  |  | Short | 10 | 952625 | 3/29/23 | (26717) |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| **Futures Contracts** (continued) |  |  |  |  |  |
| **Commodity Contracts** (continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cotton No. 2, March | Short | 32 | $1333920 | 3/09/23 | $(14310) |
| &nbsp;&nbsp;&nbsp; Gold 100 Ounce, February | Short | 9 | 1643580 | 2/24/23 | (39082) |
| &nbsp;&nbsp;&nbsp; Live Cattle, February | Short | 30 | 1894800 | 2/28/23 | (41887) |
| &nbsp;&nbsp;&nbsp; Wheat, March | Short | 55 | 2178000 | 3/14/23 | 82427 |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Australian 10 Yr. Bond | Long | 35 | 2745728 | 3/15/23 | (149770) |
| &nbsp;&nbsp;&nbsp; CAC 40 10 Euro | Long | 46 | 3176594 | 1/20/23 | (113812) |
| &nbsp;&nbsp;&nbsp; Canada 10 Yr. Bond | Long | 45 | 4070076 | 3/22/23 | (125214) |
| &nbsp;&nbsp;&nbsp; EURO STOXX 50 Index | Long | 33 | 1333048 | 3/17/23 | (61927) |
| &nbsp;&nbsp;&nbsp; Euro-OAT | Long | 7 | 951026 | 3/08/23 | (57039) |
| &nbsp;&nbsp;&nbsp; FTSE 100 Index | Long | 34 | 3053491 | 3/17/23 | (2700) |
| &nbsp;&nbsp;&nbsp; FTSE/MIB Index | Long | 22 | 2783259 | 3/17/23 | (92611) |
| &nbsp;&nbsp;&nbsp; IBEX 35 Index | Long | 66 | 5771939 | 1/20/23 | (63053) |
| &nbsp;&nbsp;&nbsp; Mex Bolsa Index | Long | 113 | 2831951 | 3/17/23 | (103142) |
| &nbsp;&nbsp;&nbsp; Nikkei 225 Mini | Long | 8 | 1581265 | 3/09/23 | (104322) |
| &nbsp;&nbsp;&nbsp; S&P/TSX 60 Index | Long | 21 | 3626392 | 3/16/23 | (127873) |
| &nbsp;&nbsp;&nbsp; U.S. Treasury 10 Yr. Note | Long | 40 | 4491875 | 3/22/23 | (100352) |
| &nbsp;&nbsp;&nbsp; DAX Index | Short | 13 | 4851823 | 3/17/23 | 163744 |
| &nbsp;&nbsp;&nbsp; Euro-BTP | Short | 4 | 464979 | 3/08/23 | 36368 |
| &nbsp;&nbsp;&nbsp; Euro-Bund | Short | 29 | 4114215 | 3/08/23 | 258713 |
| &nbsp;&nbsp;&nbsp; FTSE/JSE Africa Top40 Index | Short | 66 | 2626812 | 3/16/23 | 39586 |
| &nbsp;&nbsp;&nbsp; Long Gilt | Short | 28 | 3364753 | 3/29/23 | 196633 |
| &nbsp;&nbsp;&nbsp; OMXS30 Index | Short | 309 | 6055742 | 1/20/23 | 244178 |
| &nbsp;&nbsp;&nbsp; S+P500 E-Mini, March | Short | 13 | 2509650 | 3/17/23 | 93213 |
| &nbsp;&nbsp;&nbsp; SGX Nifty 50 | Short | 81 | 2952126 | 1/25/23 | (37534) |
| &nbsp;&nbsp;&nbsp; Total Futures Contracts |  |  |  |  | $(75874) |
| \*As of period end. |  |  |  |  |  |

---

 **The following table represents the individual short positions and related values of the equity securities underlying the**<br> **total return swap with Morgan Stanley Capital Services LLC as of December 31, 2022, expiration date 1/19/23:**

---

| | | | |
|:---|:---|:---|:---|
|  | **Country** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| **Reference Entity – Short 100.00%** |  |  |  |
| **Automobiles & Components 4.77%** |  |  |  |
| Aptiv PLC | United States | (1998) | $(186074) |
| Cie Generale des Etablissements Michelin SCA | France | (5289) | (146677) |
| Continental AG | Germany | (825) | (49289) |
| Ford Motor Co. | United States | (30306) | (352459) |
| Lear Corp. | United States | (450) | (55809) |
| Porsche Automobil Holding SE | Germany | (1206) | (65951) |
| Tesla Inc. | United States | (3101) | (381981) |
| Toyota Motor Corp. | Japan | (36100) | (495898) |
|  |  |  | (1734138) |
| **Banks 2.05%** |  |  |  |
| DNB Bank ASA | Norway | (7178) | (141687) |
| First Republic Bank | United States | (1397) | (170280) |
| Hang Seng Bank Ltd. | Hong Kong | (5800) | (96457) |
| SVB Financial Group | United States | (457) | (105174) |
| Svenska Handelsbanken AB, A | Sweden | (11288) | (113861) |
| Swedbank AB | Sweden | (6984) | (118841) |
|  |  |  | (746300) |
| **Capital Goods 9.84%** |  |  |  |
| Airbus SE | France | (4350) | (515415) |
| Alstom SA | France | (2516) | (61276) |
| Assa Abloy AB, B | Sweden | (7775) | (166924) |
| CAE Inc. | Canada | (2300) | (44457) |
| Epiroc AB, A | Sweden | (5121) | (93308) |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Epiroc AB, B | Sweden | (3043) | (48962) |
| Ferrovial SA | Spain | (3806) | (99396) |
| Generac Holdings Inc. | United States | (483) | (48619) |
| General Electric Co. | United States | (6060) | (507768) |
| HEICO Corp., A | United States | (551) | (66037) |
| IMCD NV | Netherlands | (444) | (63094) |
| Kingspan Group PLC | Ireland | (1194) | (64454) |
| Kone Oyj | Finland | (2673) | (137788) |
| L3Harris Technologies Inc. | United States | (1486) | (309400) |
| Makita Corp. | Japan | (1700) | (39683) |
| Melrose Industries PLC | United Kingdom | (31580) | (51093) |
| MTU Aero Engines AG | Germany | (401) | (86535) |
| Nibe Industrier AB | Sweden | (11751) | (109508) |
| Plug Power Inc. | United States | (3915) | (48429) |
| Rolls-Royce Holdings PLC | United Kingdom | (64535) | (72350) |
| Sandvik AB | Sweden | (8259) | (149335) |
| Schindler Holding AG | Switzerland | (307) | (57704) |
| Siemens Energy AG | Germany | (3381) | (63417) |
| Skanska AB, B | Sweden | (2669) | (42266) |
| SKF AB, B | Sweden | (2995) | (45746) |
| Stanley Black & Decker Inc. | United States | (1144) | (85937) |
| Vestas Wind Systems A/S | Denmark | (7872) | (228325) |
| Vinci SA | France | (2765) | (275294) |
|  |  |  | (3582520) |
| **Commercial & Professional Services 0.80%** | **Commercial & Professional Services 0.80%** |  |  |
| Equifax Inc. | United States | (902) | (175313) |
| Rentokil Initial PLC | United Kingdom | (19069) | (116525) |
|  |  |  | (291838) |
| **Consumer Durables & Apparel 1.29%** |  |  |  |
| Adidas AG | Germany | (1360) | (185003) |
| Hasbro Inc | United States | (1019) | (62169) |
| Newell Brands Inc. | United States | (3039) | (39750) |
| Puma SE | Germany | (826) | (49984) |
| VF Corp. | United States | (2593) | (71593) |
| Whirlpool Corp | United States | (417) | (58989) |
|  |  |  | (467488) |
| **Consumer Services 1.51%** |  |  |  |
| Caesars Entertainment Inc. | United States | (1561) | (64938) |
| Carnival Corp. | United States | (7512) | (60547) |
| Evolution AB | Sweden | (1421) | (138479) |
| MGM Resorts International | United States | (2428) | (81411) |
| Royal Caribbean Cruises Ltd. | United States | (1774) | (87689) |
| Whitbread PLC | United Kingdom | (1521) | (47021) |
| Wynn Resorts Ltd. | United States | (833) | (68697) |
|  |  |  | (548782) |
| **Diversified Financials 5.73%** |  |  |  |
| Ally Financial Inc. | United States | (2351) | (57482) |
| Annaly Capital Management Inc. | United States | (3281) | (69163) |
| ASX Ltd. | Australia | (1504) | (69376) |
| Credit Suisse Group AG | Switzerland | (28590) | (85412) |
| EQT AB | Sweden | (2361) | (49987) |
| Euronext NV | Netherlands | (676) | (49896) |
| Groupe Bruxelles Lambert SA | Belgium | (779) | (62005) |
| Hong Kong Exchanges & Clearing Ltd | Hong Kong | (9100) | (393150) |
| Investor AB | Sweden | (3867) | (71944) |
| Investor AB, B | Sweden | (14102) | (255202) |
| Japan Exchange Group Inc. | Japan | (4100) | (58962) |
| M&G PLC | United States | (19069) | (43089) |
| MarketAxess Holdings Inc. | United States | (289) | (80599) |
| S&P Global Inc. | United States | (1499) | (502075) |
| Singapore Exchange Ltd. | Singapore | (6900) | (46045) |
| St James's Place PLC | United Kingdom | (4072) | (53635) |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; T Rowe Price Group Inc. | United States | (783) | (85394) |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets Inc. | United States | (817) | (53048) |
|  |  |  | (2086464) |
| &nbsp;&nbsp;&nbsp; **Energy 6.58%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | Norway | (2425) | (74860) |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | United States | (7636) | (225491) |
| &nbsp;&nbsp;&nbsp; Cameco Corp. | Canada | (2900) | (65686) |
| &nbsp;&nbsp;&nbsp; Enbridge Inc. | Canada | (13200) | (515550) |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings Inc. | Japan | (24000) | (81488) |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA | Portugal | (3886) | (52298) |
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc. | United States | (15633) | (282645) |
| &nbsp;&nbsp;&nbsp; ONEOK Inc. | United States | (3333) | (218978) |
| &nbsp;&nbsp;&nbsp; Pembina Pipeline Corp. | Canada | (4100) | (139072) |
| &nbsp;&nbsp;&nbsp; Santos Ltd. | Australia | (24609) | (119156) |
| &nbsp;&nbsp;&nbsp; TC Energy Corp. | Canada | (7800) | (310745) |
| &nbsp;&nbsp;&nbsp; Williams Cos Inc. | United States | (9377) | (308503) |
|  |  |  | (2394472) |
| &nbsp;&nbsp;&nbsp; **Food & Staples Retailing 0.13%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Kesko OYJ | Finland | (2187) | (48129) |
| &nbsp;&nbsp;&nbsp; **Food, Beverage & Tobacco 1.98%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Associated British Foods PLC | United Kingdom | (2716) | (51489) |
| &nbsp;&nbsp;&nbsp; Barry Callebaut AG | Switzerland | (27) | (53375) |
| &nbsp;&nbsp;&nbsp; Danone SA | France | (4817) | (253089) |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | United States | (2330) | (106131) |
| &nbsp;&nbsp;&nbsp; McCormick & Co Inc. | United States | (1947) | (161387) |
| &nbsp;&nbsp;&nbsp; Mowi ASA | Norway | (3114) | (52854) |
| &nbsp;&nbsp;&nbsp; Orkla ASA | Norway | (5812) | (41854) |
|  |  |  | (720179) |
| &nbsp;&nbsp;&nbsp; **Health Care Equipment & Services 4.72%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Baxter International Inc. | United States | (3928) | (200210) |
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA Inc. | United States | (1675) | (53332) |
| &nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp. Ltd. | New Zealand | (4508) | (64435) |
| &nbsp;&nbsp;&nbsp; Fresenius Medical Care AG & Co. KGaA | Germany | (1632) | (53245) |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. | Germany | (3296) | (92339) |
| &nbsp;&nbsp;&nbsp; Getinge AB | Sweden | (1780) | (36951) |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical Inc. | United States | (883) | (234304) |
| &nbsp;&nbsp;&nbsp; Koninklijke Philips NV | Netherlands | (7009) | (104755) |
| &nbsp;&nbsp;&nbsp; Laboratory Corp of America Holdings | United States | (727) | (171194) |
| &nbsp;&nbsp;&nbsp; Masimo Corp. | United States | (378) | (55925) |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | United States | (5700) | (443004) |
| &nbsp;&nbsp;&nbsp; Ramsay Health Care Ltd. | Australia | (1430) | (62743) |
| &nbsp;&nbsp;&nbsp; Sysmex Corp. | Japan | (1200) | (72739) |
| &nbsp;&nbsp;&nbsp; Universal Health Services Inc. | United States | (501) | (70586) |
|  |  |  | (1715762) |
| &nbsp;&nbsp;&nbsp; **Household & Personal Products 1.46%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Essity AB, B | Sweden | (4735) | (124197) |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | United States | (1883) | (255617) |
| &nbsp;&nbsp;&nbsp; Shiseido Co. Ltd. | Japan | (3100) | (152034) |
|  |  |  | (531848) |
| &nbsp;&nbsp;&nbsp; **Insurance 2.98%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Ageas SA/NV | Belgium | (1292) | (57114) |
| &nbsp;&nbsp;&nbsp; Assurant Inc. | United States | (411) | (51400) |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | United States | (1169) | (119694) |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | United States | (1244) | (38216) |
| &nbsp;&nbsp;&nbsp; Markel Corp. | United States | (107) | (140971) |
| &nbsp;&nbsp;&nbsp; Medibank Pvt Ltd. | Australia | (21846) | (43704) |
| &nbsp;&nbsp;&nbsp; Prudential PLC | Hong Kong | (21147) | (286810) |
| &nbsp;&nbsp;&nbsp; T&D Holdings Inc. | Japan | (4200) | (60543) |
| &nbsp;&nbsp;&nbsp; The Allstate Corp. | United States | (2114) | (286658) |
|  |  |  | (1085110) |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Materials 9.34%** |  |  |  |
| Agnico Eagle Mines Ltd. | Canada | (3400) | (176556) |
| Akzo Nobel NV | Netherlands | (1433) | (95677) |
| Antofagasta PLC | United Kingdom | (3044) | (56590) |
| Ball Corp. | United States | (2461) | (125856) |
| Boliden AB | United States | (2161) | (81145) |
| Chr. Hansen Holding A/S | Denmark | (697) | (49985) |
| Covestro AG | Germany | (1509) | (58863) |
| Croda International PLC | United Kingdom | (1021) | (81108) |
| DuPont de Nemours Inc. | United States | (3848) | (264088) |
| Ecolab Inc. | United States | (1971) | (286899) |
| Givaudan SA | Switzerland | (73) | (223529) |
| International Flavors & Fragrances Inc. | United States | (2020) | (211777) |
| Koninklijke DSM NV | Netherlands | (1373) | (167488) |
| Mitsubishi Chemical Holdings Corp. | Japan | (10100) | (52412) |
| Newcrest Mining Ltd. | Australia | (7190) | (100639) |
| Newmont Corp. | United States | (6220) | (293584) |
| Norsk Hydro ASA | Norway | (10470) | (77927) |
| Northern Star Resources Ltd. | Australia | (9110) | (67401) |
| PPG Industries Inc. | United States | (1801) | (226458) |
| Svenska Cellulosa AB SCA | Sweden | (4817) | (61001) |
| The Sherwin-Williams Co. | United States | (1879) | (445943) |
| Wheaton Precious Metals Corp. | Canada | (3500) | (136647) |
| Yara International ASA | Norway | (1287) | (56256) |
|  |  |  | (3397829) |
| **Media & Entertainment 5.40%** |  |  |  |
| Charter Communications Inc Com Usd.001 Cl A | United States | (872) | (295695) |
| Informa PLC | United Kingdom | (10496) | (78228) |
| Liberty Broadband Corp. | United States | (965) | (73601) |
| Match Group Inc. | United States | (2170) | (90033) |
| News Corp., A | United States | (2895) | (52689) |
| Paramount Global, B | United States | (4552) | (76838) |
| ROBLOX Corp. | United States | (2640) | (75134) |
| Roku Inc. | United States | (950) | (38665) |
| Sea Ltd. ADR | Singapore | (2700) | (140481) |
| Shaw Communications Inc. | Canada | (2100) | (60461) |
| Snap Inc. | United States | (8352) | (74750) |
| Take-Two Interactive Software Inc. | United States | (1299) | (135265) |
| The Walt Disney Co. | United States | (5497) | (477579) |
| Trade Desk Inc. | United States | (1672) | (74956) |
| Vivendi SA | France | (5657) | (53818) |
| Warner Bros Discovery Inc. | United States | (17785) | (168602) |
|  |  |  | (1966795) |
| **Pharmaceuticals, Biotechnology & Life Sciences 7.35%** |  |  |  |
| AstraZeneca PLC | United Kingdom | (3710) | (500632) |
| Catalent Inc. | United States | (1316) | (59233) |
| Chugai Pharmaceutical Co. Ltd. | Japan | (5200) | (132734) |
| Elanco Animal Health Inc. | United States | (3353) | (40974) |
| Exact Sciences Corp. | United States | (1362) | (67433) |
| Illumina Inc. | United States | (1215) | (245673) |
| Johnson & Johnson | United States | (2926) | (516878) |
| Novo Nordisk AS, B | Denmark | (3990) | (537127) |
| UCB SA | Belgium | (976) | (76623) |
| Zoetis Inc. | United States | (3404) | (498856) |
|  |  |  | (2676163) |
| **Real Estate 6.47%** |  |  |  |
| Alexandria Real Estate Equities Inc. | United States | (1209) | (176115) |
| Boston Properties Inc. REIT | United States | (1145) | (77379) |
| Camden Property Trust | United States | (791) | (88497) |
| Dexus | Australia | (8448) | (44400) |
| Digital Realty Trust Inc. | United States | (2177) | (218288) |
| Equinix Inc. | United States | (701) | (459176) |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Essex Property Trust Inc. | United States | (501) | (106172) |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Trust Inc. | United States | (3008) | (57964) |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties Inc | United States | (4227) | (105971) |
| &nbsp;&nbsp;&nbsp; Nippon Prologis REIT Inc. | Japan | (17) | (39748) |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. REIT | United States | (823) | (230695) |
| &nbsp;&nbsp;&nbsp; Sun Communities Inc. | United States | (958) | (136994) |
| &nbsp;&nbsp;&nbsp; UDR Inc. | United States | (2521) | (97638) |
| &nbsp;&nbsp;&nbsp; Ventas Inc. REIT | United States | (3102) | (139745) |
| &nbsp;&nbsp;&nbsp; Vonovia SE | Germany | (5690) | (133720) |
| &nbsp;&nbsp;&nbsp; Welltower Inc | United States | (3684) | (241486) |
|  |  |  | (2353988) |
| &nbsp;&nbsp;&nbsp; **Retailing 2.46%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts Inc. | United States | (471) | (69251) |
| &nbsp;&nbsp;&nbsp; Burlington Stores Inc | United States | (512) | (103813) |
| &nbsp;&nbsp;&nbsp; CarMax Inc | United States | (1244) | (75747) |
| &nbsp;&nbsp;&nbsp; Doordash Inc. | United States | (1372) | (66981) |
| &nbsp;&nbsp;&nbsp; H & M AB, B | Sweden | (5759) | (62037) |
| &nbsp;&nbsp;&nbsp; Target Corp. | United States | (3113) | (463961) |
| &nbsp;&nbsp;&nbsp; Zalando SE | Germany | (1496) | (52864) |
|  |  |  | (894654) |
| &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor Equipment 6.44%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices Inc. | United States | (7014) | (454297) |
| &nbsp;&nbsp;&nbsp; ASM International NV | Netherlands | (361) | (90791) |
| &nbsp;&nbsp;&nbsp; Entegris Inc. | United States | (1121) | (73526) |
| &nbsp;&nbsp;&nbsp; Intel Corp. | United States | (17233) | (455468) |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | United States | (1040) | (437112) |
| &nbsp;&nbsp;&nbsp; Marvell Technology Inc. | United States | (6354) | (235352) |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | United States | (2968) | (433744) |
| &nbsp;&nbsp;&nbsp; Qorvo Inc. | United States | (441) | (39972) |
| &nbsp;&nbsp;&nbsp; SolarEdge Technologies Inc. | United States | (436) | (123506) |
|  |  |  | (2343768) |
| &nbsp;&nbsp;&nbsp; **Software & Services 7.66%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Adyen NV | Netherlands | (159) | (218632) |
| &nbsp;&nbsp;&nbsp; Amadeus IT Group SA | Spain | (3414) | (176896) |
| &nbsp;&nbsp;&nbsp; Bill.com Holdings Inc. | United States | (670) | (73003) |
| &nbsp;&nbsp;&nbsp; Cloudflare Inc., A | United States | (1711) | (77354) |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services Inc. | United States | (4701) | (318963) |
| &nbsp;&nbsp;&nbsp; Fiserv Inc. | United States | (2314) | (233876) |
| &nbsp;&nbsp;&nbsp; MongoDB Inc. | United States | (504) | (99207) |
| &nbsp;&nbsp;&nbsp; Okta Inc., A | United States | (1112) | (75983) |
| &nbsp;&nbsp;&nbsp; Palantir Technologies Inc. | United States | (12417) | (79717) |
| &nbsp;&nbsp;&nbsp; Shopify Inc., A | Canada | (8600) | (298377) |
| &nbsp;&nbsp;&nbsp; Snowflake Inc. | United States | (1530) | (219616) |
| &nbsp;&nbsp;&nbsp; Splunk Inc. | United States | (1144) | (98487) |
| &nbsp;&nbsp;&nbsp; Square Inc., A | United States | (3716) | (233514) |
| &nbsp;&nbsp;&nbsp; Twilio Inc., A | United States | (1283) | (62816) |
| &nbsp;&nbsp;&nbsp; Unity Software Inc. | United States | (1411) | (40341) |
| &nbsp;&nbsp;&nbsp; Workday Inc., A | United States | (1464) | (244971) |
| &nbsp;&nbsp;&nbsp; Xero Ltd. | New Zealand | (1040) | (49560) |
| &nbsp;&nbsp;&nbsp; Zoom Video Communications Inc., A | United States | (1711) | (115903) |
| &nbsp;&nbsp;&nbsp; Zscaler Inc. | United States | (618) | (69154) |
|  |  |  | (2786370) |
| &nbsp;&nbsp;&nbsp; **Technology Hardware & Equipment 4.23%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Cognex Corp. | United States | (1249) | (58840) |
| &nbsp;&nbsp;&nbsp; Halma PLC | United Kingdom | (2791) | (66273) |
| &nbsp;&nbsp;&nbsp; Hexagon AB | Sweden | (15295) | (160003) |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | Japan | (1200) | (467649) |
| &nbsp;&nbsp;&nbsp; Logitech International SA | Switzerland | (1333) | (82210) |
| &nbsp;&nbsp;&nbsp; NetApp Inc. | United States | (1696) | (101862) |
| &nbsp;&nbsp;&nbsp; Omron Corp. | Japan | (1500) | (72815) |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | United States | (1500) | (78915) |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies Inc. | United States | (354) | (141568) |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Telefonaktiebolaget LM Ericsson | Sweden | (22486) | (131427) |
| Western Digital Corp. | United States | (2432) | (76730) |
| Zebra Technologies Corp. | United States | (395) | (101282) |
|  |  |  | (1539574) |
| **Telecommunication Services 1.93%** |  |  |  |
| Cellnex Telecom SA | Spain | (4180) | (137937) |
| Elisa OYJ | Finland | (1111) | (58646) |
| Koninklijke KPN NV | Netherlands | (25764) | (79465) |
| Singapore Telecommunications Ltd. | Singapore | (64800) | (124169) |
| Spark New Zealand Ltd. | New Zealand | (14520) | (49589) |
| Tele2 AB | Sweden | (4407) | (35994) |
| Telenor ASA | Norway | (5487) | (51021) |
| Telia Co. AB | Sweden | (20694) | (52949) |
| Verizon Communications Inc. | United States | (2847) | (112172) |
|  |  |  | (701942) |
| **Transportation 2.01%** |  |  |  |
| Aena SME SA | Spain | (592) | (74111) |
| Kuehne + Nagel International AG | Switzerland | (419) | (97459) |
| MTR Corp. Ltd. | Hong Kong | (12500) | (66224) |
| Transurban Group | Australia | (24042) | (211627) |
| Uber Technologies Inc. | United States | (11431) | (282689) |
|  |  |  | (732110) |
| **Utilities 2.87%** |  |  |  |
| Chubu Electric Power Co. Inc. | Japan | (5100) | (52645) |
| CLP Holdings Ltd. | Hong Kong | (13000) | (94856) |
| Dominion Energy Inc. | United States | (6339) | (388708) |
| Fortum OYJ | Finland | (3429) | (56870) |
| Hong Kong & China Gas Co. Ltd. | Hong Kong | (88000) | (83660) |
| Orsted AS | Denmark | (1461) | (132369) |
| Public Service Enterprise Group Inc. | United States | (3855) | (236196) |
|  |  |  | (1045304) |
| **Total Value of Reference Entity — Morgan Stanley Capital Services LLC** |  |  | $(36391527) |

---

 **Abbreviations**<br>**Selected Portfolio**

---

| | |
|:---|:---|
| **ADR** | American Depositary Receipt |
| **CAC** | Cotation Assistée en Continu |
| **LIBOR** | London InterBank Offered Rate |
| **MSCO** | MorganStanley |
| **MSCS** | Morgan Stanley Capital Services Inc. |
| **OAT** | Obligation Assumable by the Treasurer |
| **REIT** | Real Estate Investment Trust |
| **SBA** | Small Business Administration |
| **SPA** | Standby Purchase Agreement |
| **TSX** | Toronto Stock Exchange |
| **ULSD** | Ultra-Low Sulfur Diesel |
| **USD** | Unified/Union School District |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Core Bond ETF** | **Country** | **Principal Amount\*** |  |
| &nbsp;&nbsp;&nbsp; **Corporate Bonds & Notes 23.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Aerospace & Defense 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; The Boeing Co., Sr. Unsecured note, 3.50%, 3/01/39 | United States | 5000000 | $3623240 |
| &nbsp;&nbsp;&nbsp; **Agriculture 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Altria Group Inc., 3.40%, 5/06/30 | United States | 5000000 | 4285012 |
| &nbsp;&nbsp; <sup>a</sup> Imperial Brands Finance PLC, 144A, 3.50%, 7/26/26 | United Kingdom | 6000000 | 5510375 |
|  |  |  | 9795387 |
| &nbsp;&nbsp;&nbsp; **Airlines 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; American Airlines 2016-3 Class A Pass Through Trust, 3.25%, 4/15/30 | United States | 4256309 | 3313834 |
| &nbsp;&nbsp; <sup>a</sup> Delta Air Lines Inc./SkyMiles IP Ltd., first lien, 144A, 4.50%, 10/20/25 | United States | 7700000 | 7516162 |
| &nbsp;&nbsp;&nbsp; United Airlines 2019-2 Class A Pass Through Trust, Series A, 2.90%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/01/29 | United States | 878884 | 707218 |
| &nbsp;&nbsp;&nbsp; United Airlines 2020-1 Class A Pass Through Trust, Series 20-1, 5.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/29 | United States | 79038 | 78037 |
| &nbsp;&nbsp;&nbsp; United Airlines 2020-1 Class B Pass Through Trust, 2020-1 Class B, 4.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/27 | United States | 1828800 | 1741958 |
|  |  |  | 13357209 |
| &nbsp;&nbsp;&nbsp; **Banks 6.9%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Banco de Chile, Sr. Unsecured , 144A, 2.99%, 12/09/31 | Chile | 1200000 | 1022425 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 1.922%, 10/24/31 | United States | 1500000 | 1149181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured note, 2.592% to 4/29/31, FRN thereafter, 4/29/31 | United States | 3000000 | 2449897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured note, 3.864% to 7/23/24, FRN thereafter, 7/23/24 | United States | 5100000 | 5054935 |
| &nbsp;&nbsp; <sup>a</sup> BNP Paribas SA, Sr. Unsecured, 144A, 2.819%, 11/19/25 | France | 2200000 | 2085568 |
| &nbsp;&nbsp; <sup>a</sup> BPCE SA, Sr. Unsecured, 144A, 2.045% to 10/19/27, FRN thereafter, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/27 | France | 3700000 | 3193923 |
| &nbsp;&nbsp;&nbsp; Citigroup Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.057% to 1/25/33, FRN thereafter, 1/25/33 | United States | 1800000 | 1457249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 4.044% to 6/01/24, FRN thereafter, 6/01/24 | United States | 5100000 | 5066868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; sub. bond, 4.45%, 9/29/27 | United States | 1500000 | 1432620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; subordinate, 4.125%, 7/25/28 | United States | 2300000 | 2145070 |
| &nbsp;&nbsp;&nbsp; Credit Suisse Group AG, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 4/17/26 | Switzerland | 1600000 | 1412896 |
| <sup>a</sup> 144A, 2.193%, 6/05/26 | Switzerland | 400000 | 341960 |
| <sup>a</sup> Sr. Unsecured, 144A, 6.373% to 7/15/26, FRN thereafter, 7/15/26 | Switzerland | 1100000 | 1033712 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG, Sr. Unsecured, 5.371%, 9/09/27 | Germany | 3700000 | 3714595 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp, 2.375%, 1/28/25 | United States | 4400000 | 4175467 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.691%, 6/05/28 | United States | 2500000 | 2326705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 1.948%, 10/21/27 | United States | 5200000 | 4553586 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior note, 2.013% to 9/22/28, FRN thereafter, 9/22/28 | United Kingdom | 4100000 | 3433060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior note, 2.357% to 8/18/31, FRN thereafter, 8/18/31 | United Kingdom | 1300000 | 996102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior note, 0.976% to 5/24/25, FRN thereafter, 5/24/25 | United Kingdom | 4800000 | 4446718 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; subordinated, 2.956% to 5/13/31, FRN thereafter, 5/13/31 | United States | 5000000 | 4130786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 2.522% to 4/22/31, FRN thereafter, 4/22/31 | United States | 2000000 | 1640991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured, 1.953% to 2/04/32, FRN thereafter, 2/04/32 | United States | 2000000 | 1534463 |
| &nbsp;&nbsp;&nbsp; KeyBank NA, 4.15%, 8/08/25 | United States | 2500000 | 2444931 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group Inc., Sr. Unsecured, 5.063%, 9/12/25 | Japan | 4500000 | 4470899 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.622% to 4/01/31, FRN thereafter, 4/01/31 | United States | 4300000 | 3763626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 4/23/27 | United States | 3600000 | 3405334 |
| &nbsp;&nbsp; <sup>a</sup> Nordea Bank Abp, Sr. Unsecured, 144A, 4.75%, 9/22/25 | Finland | 2200000 | 2188405 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings PLC, 1.673% to 6/14/27, FRN thereafter, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/14/27 | United Kingdom | 3200000 | 2724627 |
| &nbsp;&nbsp; <sup>a</sup> Societe Generale SA, Sr. Unsecured, 144A, 1.792%, 6/09/27 | France | 4300000 | 3704763 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Sr. Unsecured, MTN, 4.693%, 9/15/27 | Canada | 4700000 | 4654380 |
| &nbsp;&nbsp;&nbsp; Truist Bank, sub. Bond, 2.25%, 3/11/30 | United States | 4300000 | 3496069 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Truist Financial Corp., 5.90%, 10/28/26 | United States | 3850000 | 3940094 |
| Wells Fargo & Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; senior bond, 2.879% to 10/30/30, FRN thereafter, 10/30/30 | United States | 7700000 | 6556869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 8/15/26 | United States | 1600000 | 1569527 |
|  |  |  | 101718301 |
| **Banks 0.1%** |  |  |  |
| US Bancorp, 5.727%, 10/21/26 | United States | 1700000 | 1733319 |
| **Beverages 0.6%** |  |  |  |
| Anheuser-Busch InBev Worldwide Inc., senior bond, 3.50%, 6/01/30 | United States | 3900000 | 3559749 |
| PepsiCo Inc., Sr. Unsecured, 3.90%, 7/18/32 | United States | 6000000 | 5675850 |
|  |  |  | 9235599 |
| **Biotechnology 0.5%** |  |  |  |
| Bio-Rad Laboratories Inc., 3.30%, 3/15/27 | United States | 500000 | 462846 |
| Illumina Inc., 5.80%, 12/12/25 | United States | 3000000 | 3023671 |
| Royalty Pharma PLC, 2.20%, 9/02/30 | United Kingdom | 5000000 | 3918933 |
|  |  |  | 7405450 |
| **Building Products 0.3%** |  |  |  |
| NVR Inc., Sr. Unsecured, 3.00%, 5/15/30 | United States | 4500000 | 3787828 |
| **Commercial Services & Supplies 0.6%** |  |  |  |
| Boardwalk Pipelines LP, senior note, 4.80%, 5/03/29 | United States | 3950000 | 3726269 |
| Rockefeller University, Series 2020, Unsecured, 3.75%, 7/01/51 | United States | 7000000 | 5506199 |
|  |  |  | 9232468 |
| **Diversified Financial Services 0.4%** |  |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.40%, 10/29/33 | Ireland | 3500000 | 2663177 |
| Capital One Financial Corp., Sr. Unsecured, 4.985% to 7/24/26, FRN |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; thereafter, 7/24/26 | United States | 4000000 | 3921501 |
|  |  |  | 6584678 |
| **Diversified Telecommunication Services 1.0%** |  |  |  |
| America Movil SAB de CV, Sr. Unsecured note, 2.875%, 5/07/30 | Mexico | 3800000 | 3229984 |
| Orange SA, senior bond, 9.00%, 3/01/31 | France | 4300000 | 5273480 |
| Verizon Communications Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured note, 1.75%, 1/20/31 | United States | 5000000 | 3890974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsecured note, 2.85%, 9/03/41 | United States | 3900000 | 2698848 |
|  |  |  | 15093286 |
| **Electric Utilities 1.9%** |  |  |  |
| Baltimore Gas and Electric Co., senior bond, 3.50%, 8/15/46 | United States | 1400000 | 1045303 |
| <sup>a</sup> Comision Federal de Electricidad, 144A, 3.348%, 2/09/31 | Mexico | 3800000 | 2983382 |
| Duke Energy Corp., senior bond, 3.75%, 9/01/46 | United States | 5000000 | 3731735 |
| <sup>a</sup> EDP Finance BV, senior note, 144A, 1.71%, 1/24/28 | Netherlands | 4500000 | 3721236 |
| Enel Finance International NV, |  |  |  |
| <sup>a</sup> senior bond, 144A, 3.50%, 4/06/28 | Netherlands | 2700000 | 2366877 |
| &nbsp;&nbsp;&nbsp; <sup>a</sup> 144A, 2.25%, 7/12/31 | Netherlands | 3500000 | 2554512 |
| Exelon Corp., senior bond, 4.05%, 4/15/30 | United States | 3000000 | 2792387 |
| Georgia Power Co., senior bond, Series 2010-C, 4.75%, 9/01/40 | United States | 1400000 | 1269925 |
| MidAmerican Energy Co., secured bond, 3.65%, 8/01/48 | United States | 1100000 | 868610 |
| <sup>a</sup> Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, senior bond, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 144A, 4.875%, 7/17/49 | Indonesia | 750000 | 593549 |
| The Southern Co., senior bond, Series A, 3.70%, 4/30/30 | United States | 3000000 | 2714658 |
| Virginia Electric and Power Co., senior bond, 3.80%, 9/15/47 | United States | 5100000 | 3923653 |
|  |  |  | 28565827 |
| **Electronic Equipment, Instruments & Components 0.4%** |  |  |  |
| Flex Ltd., senior note, 4.875%, 5/12/30 | Singapore | 4300000 | 4049239 |
| Teledyne FLIR LLC, Sr. Unsecured note, 2.50%, 8/01/30 | United States | 3000000 | 2428097 |
|  |  |  | 6477336 |
| **Energy Equipment & Services 0.5%** |  |  |  |
| Kinder Morgan Inc., 2.00%, 2/15/31 | United States | 4100000 | 3183490 |
| MPLX LP, Sr. Unsecured, 2.65%, 8/15/30 | United States | 2500000 | 2031636 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> Schlumberger Holdings Corp., senior bond, 144A, 3.90%, 5/17/28 | United States | 1950000 | 1820398 |
|  |  |  | 7035524 |
| &nbsp;&nbsp;&nbsp; **Entertainment 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Warnermedia Holdings Inc., 144A, 4.054%, 3/15/29 | United States | 900000 | 780336 |
| &nbsp;&nbsp;&nbsp; **Food 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; General Mills Inc., 5.241%, 11/18/25 | United States | 800000 | 802275 |
| &nbsp;&nbsp;&nbsp; **Food Products 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 3.00%, 6/01/26 | United States | 4100000 | 3841961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 3.75%, 4/01/30 | United States | 2000000 | 1826017 |
|  |  |  | 5667978 |
| &nbsp;&nbsp;&nbsp; **Health Care Providers & Services 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; CVS Health Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.875%, 7/20/35 | United States | 1400000 | 1334653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.30%, 3/25/28 | United States | 1117000 | 1082492 |
| &nbsp;&nbsp;&nbsp; Elevance Health Inc., 5.10%, 1/15/44 | United States | 2000000 | 1895575 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics Inc., senior bond, 2.80%, 6/30/31 | United States | 6800000 | 5713120 |
| &nbsp;&nbsp;&nbsp; STERIS Irish FinCo UnLtd Co., 2.70%, 3/15/31 | Ireland | 5000000 | 4064492 |
|  |  |  | 14090332 |
| &nbsp;&nbsp;&nbsp; **Healthcare-Products 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> GE HealthCare Technologies Inc., 144A, 5.60%, 11/15/25 | United States | 2300000 | 2316632 |
| &nbsp;&nbsp;&nbsp; **Independent Power Producers & Energy Traders 0.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Colbun SA, senior note, 144A, 3.95%, 10/11/27 | Chile | 5550000 | 5179857 |
| &nbsp;&nbsp;&nbsp; **Insurance 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Finance Corp., 3.85%, 3/15/52 | United States | 1200000 | 962841 |
| &nbsp;&nbsp; <sup>a</sup> Five Corners Funding Trust II, senior note, 144A, 2.85%, 5/15/30 | United States | 4000000 | 3362075 |
| &nbsp;&nbsp; <sup>a</sup> MassMutual Global Funding II, 144A, 5.05%, 12/07/27 | United States | 5100000 | 5134006 |
| &nbsp;&nbsp;&nbsp; MetLife Inc., senior bond, 5.875%, 2/06/41 | United States | 1100000 | 1135615 |
| &nbsp;&nbsp; <sup>a</sup> Metropolitan Life Global Funding I, 144A, 4.30%, 8/25/29 | United States | 1400000 | 1333335 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc., Sr. Unsecured, 3.90%, 5/15/29 | United States | 2250000 | 2063384 |
|  |  |  | 13991256 |
| &nbsp;&nbsp;&nbsp; **Internet Software & Services 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Tencent Holdings Ltd., Sr. Unsecured, 144A, 3.925%, 1/19/38 | Cayman Islands | 2000000 | 1597155 |
| &nbsp;&nbsp;&nbsp; **IT Services 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Apple Inc., 2.65%, 5/11/50 | United States | 2000000 | 1332718 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services Inc., Sr. Unsecured note, 2.25%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/01/31 | United States | 4500000 | 3536839 |
| &nbsp;&nbsp;&nbsp; Fiserv Inc., senior bond, 2.65%, 6/01/30 | United States | 4700000 | 3961803 |
|  |  |  | 8831360 |
| &nbsp;&nbsp;&nbsp; **Media 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior bond, 2.80%, 4/01/31 | United States | 5000000 | 3904027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; senior secured note, 3.50%, 3/01/42 | United States | 1500000 | 966051 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., senior bond, 4.25%, 1/15/33 | United States | 4000000 | 3782858 |
| &nbsp;&nbsp;&nbsp; NBCUniversal Media LLC, senior bond, 4.45%, 1/15/43 | United States | 1100000 | 972201 |
| &nbsp;&nbsp;&nbsp; The Walt Disney Co., 2.75%, 9/01/49 | United States | 3000000 | 1998006 |
|  |  |  | 11623143 |
| &nbsp;&nbsp;&nbsp; **Metals & Mining 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Corp. Nacional del Cobre de Chile, Sr. Unsecured , 144A, 4.50%, 8/01/47 | Chile | 1160000 | 988471 |
| &nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Aker BP ASA, 144A, 3.10%, 7/15/31 | Norway | 4700000 | 3866230 |
| &nbsp;&nbsp;&nbsp; Canadian Natural Resources Ltd., senior bond, 3.85%, 6/01/27 | Canada | 3000000 | 2829928 |
| &nbsp;&nbsp;&nbsp; Cheniere Corpus Christi Holdings LLC, senior secured note, first lien, 5.875%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/25 | United States | 2200000 | 2214876 |
| &nbsp;&nbsp;&nbsp; Equinor ASA, senior note, 2.375%, 5/22/30 | Norway | 3000000 | 2558411 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp., senior bond, 2.61%, 10/15/30 | United States | 3000000 | 2628005 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> Pertamina Persero PT, senior bond, 144A, 4.70%, 7/30/49 | Indonesia | 1000000 | 818788 |
| Sabine Pass Liquefaction LLC, first lien, senior secured bond, 4.20%, 3/15/28 | United States | 4000000 | 3767084 |
|  |  |  | 18683322 |
| **Packaging & Containers 0.2%** |  |  |  |
| Amcor Flexibles North America Inc., senior note, 2.63%, 6/19/30 | United States | 3500000 | 2856701 |
| **Paper & Forest Products 0.1%** |  |  |  |
| Suzano Austria GmbH, 3.125%, 1/15/32 | Austria | 1300000 | 1015364 |
| **Pharmaceuticals 0.6%** |  |  |  |
| AbbVie Inc., 4.75%, 3/15/45 | United States | 1000000 | 902975 |
| Bristol-Myers Squibb Co., senior bond, 4.125%, 6/15/39 | United States | 3200000 | 2860968 |
| Takeda Pharmaceutical Co. Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; senior note, 2.05%, 3/31/30 | Japan | 2600000 | 2128048 |
| &nbsp;&nbsp;&nbsp;&nbsp; senior note, 5.00%, 11/26/28 | Japan | 2500000 | 2483901 |
|  |  |  | 8375892 |
| **Pipelines 0.2%** |  |  |  |
| Energy Transfer LP, senior note, 3.90%, 5/15/24 | United States | 2650000 | 2582445 |
| **Real Estate Management & Development 0.1%** |  |  |  |
| Simon Property Group LP, Sr. Unsecured, 2.20%, 2/01/31 | United States | 2000000 | 1580206 |
| **Road & Rail 0.3%** |  |  |  |
| Burlington Northern Santa Fe LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.90%, 4/01/44 | United States | 1100000 | 1043907 |
| &nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.15%, 4/01/45 | United States | 2300000 | 1975250 |
| CSX Corp., senior bond, 4.25%, 11/01/66 | United States | 1000000 | 789772 |
|  |  |  | 3808929 |
| **Software 0.3%** |  |  |  |
| ServiceNow Inc., senior bond, 1.40%, 9/01/30 | United States | 6000000 | 4603611 |
| **Wireless Telecommunication Services 0.6%** |  |  |  |
| T-Mobile USA Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; senior note, 3.75%, 4/15/27 | United States | 5000000 | 4717104 |
| &nbsp;&nbsp;&nbsp;&nbsp; senior secured bond, 3.875%, 4/15/30 | United States | 1000000 | 908161 |
| Vodafone Group PLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; senior bond, 4.875%, 6/19/49 | United Kingdom | 1000000 | 840363 |
| &nbsp;&nbsp;&nbsp;&nbsp; senior bond, 6.15%, 2/27/37 | United Kingdom | 2300000 | 2339325 |
|  |  |  | 8804953 |
| **Total Corporate Bonds & Notes (Cost $398,515,695)** |  |  | 341825670 |
| **U.S. Government & Agency Securities 44.3%** |  |  |  |
| Federal Home Loan Mortgage Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 7/01/37 | United States | 4946673 | 4417666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 4/01/52 | United States | 5207158 | 4245846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 4/01/37 | United States | 5025728 | 4607017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 4/01/52 | United States | 13697645 | 11618986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 4/01/37 | United States | 530076 | 497015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 7/01/37 | United States | 734733 | 688953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 8/01/37 | United States | 565943 | 530653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 9/01/37 | United States | 740947 | 694740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 4/01/52 | United States | 3237614 | 2947185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/01/37 | United States | 6044448 | 5904838 |
| Federal National Mortgage Association, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 4/01/37 | United States | 483795 | 431934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/01/37 | United States | 701764 | 658044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/01/37 | United States | 4883713 | 4579154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/01/51 | United States | 5378749 | 4728250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 3/01/52 | United States | 883934 | 776996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 6/01/49 | United States | 640267 | 593895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/52 | United States | 4781136 | 4349535 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bond, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/15/40 | United States | 4100000 | 2548406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 5/15/50 | United States | 21500000 | 11578506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 8/15/50 | United States | 45100000 | 25077186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/15/41 | United States | 39800000 | 28437566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 2/15/50 | United States | 11100000 | 7337924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/15/46 | United States | 25354000 | 17966676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 8/15/49 | United States | 2050000 | 1442207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 8/15/42 | United States | 17450000 | 14046909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/42 | United States | 8650000 | 6941625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/44 | United States | 12595000 | 10406619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 2/15/49 | United States | 7293000 | 6009888 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Note, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 11/30/25 | United States | 84600000 | 75683954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 1/31/26 | United States | 62772000 | 55859724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 6/30/26 | United States | 24500000 | 21913144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 12/31/26 | United States | 79900000 | 71563558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 8/15/31 | United States | 13200000 | 10707469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/29/24 | United States | 92000000 | 89344219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 3/31/24 | United States | 28000000 | 27132109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 8/15/32 | United States | 32650000 | 29737008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | United States | 1700000 | 1567188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 6/30/27 | United States | 91500000 | 88504804 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Securities (Cost $729,777,889)** |  |  | 656077396 |
| &nbsp;&nbsp;&nbsp; **Municipal Bonds 3.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Alabama 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Series 2018B, Monthly, VRDN, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.61%, 6/01/49 | United States | 5000000 | 4919926 |
| &nbsp;&nbsp;&nbsp; **California 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; California Health Facilities Financing Authority, State of California Personal |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income Tax Revenue, 2.934%, 6/01/32 | United States | 530000 | 444478 |
| &nbsp;&nbsp;&nbsp; Clovis Unified School District, Refunding, Series 2021B, 3.067%, 8/01/39 | United States | 12580000 | 9449725 |
| &nbsp;&nbsp;&nbsp; Contra Costa Community College District, Refunding, 2.926%, 8/01/38 | United States | 4000000 | 3046312 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Subordinate Bond, Refunding, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021, 3.85%, 6/01/50 | United States | 7200000 | 6379780 |
| &nbsp;&nbsp;&nbsp; San Bernardino Community College District, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 2.686%,8/01/41 | United States | 6140000 | 4340616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunding, 2.856%,8/01/49 | United States | 3575000 | 2288582 |
| &nbsp;&nbsp;&nbsp; State of California, 4.00%, 3/01/46 | United States | 2500000 | 2437477 |
| &nbsp;&nbsp;&nbsp; Whittier City School District, Refunding, 3.306%, 8/01/43 | United States | 7500000 | 5645569 |
|  |  |  | 34032539 |
| &nbsp;&nbsp;&nbsp; **Ohio 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Greenville City School District, Refunding, 3.541%, 1/01/51 | United States | 1295000 | 942394 |
| &nbsp;&nbsp;&nbsp; **Texas 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Austin, Electric Utility Revenue, Refunding, 6.262%, 11/15/32 | United States | 880000 | 940267 |
| &nbsp;&nbsp;&nbsp; Texas Water Development Board, Series 2019A, 4.00%, 10/15/44 | United States | 3750000 | 3650054 |
|  |  |  | 4590321 |
| &nbsp;&nbsp;&nbsp; **Total Municipals (Cost $47,297,932)** |  |  | 44485180 |
| &nbsp;&nbsp;&nbsp; **Mortgage-Backed Securities 21.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Fannie Mae 6.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/1/47 | United States | 1505555 | 1407277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/48 | United States | 1828586 | 1695885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/1/45 | United States | 2577367 | 2473442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 2/1/47 | United States | 2827128 | 2627839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 3/1/48 | United States | 3703368 | 3423927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 6/1/37 | United States | 4435369 | 4158736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 4/1/37 | United States | 4988533 | 4574574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 5/1/50 | United States | 5887136 | 5622563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 6/1/48 | United States | 5385131 | 5152278 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; 3.00%, 3/1/50 | United States | 15219774 | 13616870 |
| &nbsp;&nbsp;&nbsp; 3.00%, 3/1/50 | United States | 5845411 | 5219184 |
| &nbsp;&nbsp;&nbsp; 2.00%, 1/1/52 | United States | 13004769 | 10614111 |
| &nbsp;&nbsp;&nbsp; 2.00%, 2/1/52 | United States | 579532 | 472542 |
| &nbsp;&nbsp;&nbsp; 2.50%, 5/1/37 | United States | 9707113 | 8897207 |
| &nbsp;&nbsp;&nbsp; 4.50%, 8/1/52 | United States | 724955 | 698527 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/1/52 | United States | 3699151 | 3473408 |
| &nbsp;&nbsp;&nbsp; 3.00%, 7/1/52 | United States | 8956613 | 7869672 |
| &nbsp;&nbsp;&nbsp; 2.50%, 3/1/52 | United States | 7100597 | 6020251 |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/1/52 | United States | 6272350 | 6043363 |
| &nbsp;&nbsp;&nbsp; 3.50%, 8/1/52 | United States | 2084971 | 1896748 |
| &nbsp;&nbsp;&nbsp; 2.00%, 4/1/37 | United States | 5180153 | 4613356 |
|  |  |  | 100571760 |
| **Freddie Mac 12.2%** |  |  |  |
| Federal National Mortgage Association, |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 7/1/51 | United States | 22346509 | 18257459 |
| &nbsp;&nbsp;&nbsp; 2.50%, 7/1/51 | United States | 7398299 | 6291039 |
| &nbsp;&nbsp;&nbsp; 2.50%, 12/1/51 | United States | 16359341 | 13887305 |
| &nbsp;&nbsp;&nbsp; 2.50%, 2/1/52 | United States | 1658841 | 1408124 |
| &nbsp;&nbsp;&nbsp; 2.50%, 8/1/51 | United States | 4618721 | 3926977 |
| &nbsp;&nbsp;&nbsp; 4.50%, 7/1/47 | United States | 5635753 | 5539844 |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/1/48 | United States | 4020872 | 3974084 |
| &nbsp;&nbsp;&nbsp; 4.50%, 5/1/48 | United States | 2801534 | 2765993 |
| &nbsp;&nbsp;&nbsp; 3.50%, 8/1/49 | United States | 10523312 | 9772567 |
| &nbsp;&nbsp;&nbsp; 4.50%, 2/1/50 | United States | 1657005 | 1620217 |
| &nbsp;&nbsp;&nbsp; 3.00%, 9/1/50 | United States | 4997106 | 4449202 |
| &nbsp;&nbsp;&nbsp; 4.00%, 2/1/49 | United States | 425898 | 407989 |
| &nbsp;&nbsp;&nbsp; 3.00%, 4/1/50 | United States | 6258648 | 5577549 |
| &nbsp;&nbsp;&nbsp; 2.00%, 7/1/36 | United States | 9625331 | 8596402 |
| &nbsp;&nbsp;&nbsp; 2.00%, 8/1/51 | United States | 14685648 | 12001949 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/1/51 | United States | 5674127 | 4996612 |
| &nbsp;&nbsp;&nbsp; 2.00%, 5/1/36 | United States | 11166724 | 9973253 |
| &nbsp;&nbsp;&nbsp; 2.00%, 3/1/52 | United States | 15907706 | 12979772 |
| &nbsp;&nbsp;&nbsp; 2.00%, 4/1/37 | United States | 5032505 | 4481898 |
| &nbsp;&nbsp;&nbsp; 3.00%, 5/1/52 | United States | 5395428 | 4740790 |
| &nbsp;&nbsp;&nbsp; 2.00%, 1/1/52 | United States | 5594771 | 4565419 |
| &nbsp;&nbsp;&nbsp; 2.00%, 2/1/52 | United States | 5640978 | 4600846 |
| &nbsp;&nbsp;&nbsp; 2.00%, 2/1/52 | United States | 5638544 | 4597584 |
| &nbsp;&nbsp;&nbsp; 2.00%, 6/1/37 | United States | 1540680 | 1372100 |
| &nbsp;&nbsp;&nbsp; 3.00%, 7/1/52 | United States | 1903047 | 1672279 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/1/52 | United States | 3687169 | 3639635 |
| &nbsp;&nbsp;&nbsp; 3.00%, 4/1/52 | United States | 5405231 | 4749245 |
| &nbsp;&nbsp;&nbsp; 3.50%, 8/1/52 | United States | 5206801 | 4737614 |
| &nbsp;&nbsp;&nbsp; 3.50%, 6/1/52 | United States | 5197331 | 4728158 |
| &nbsp;&nbsp;&nbsp; 2.50%, 3/1/52 | United States | 11887063 | 10087405 |
| &nbsp;&nbsp;&nbsp; 3.00%, 9/1/37 | United States | 567015 | 531662 |
|  |  |  | 180930972 |
| **Ginnie Mae 2.4%** |  |  |  |
| Government National Mortgage Association, |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 4/20/52 | United States | 9696736 | 8411152 |
| &nbsp;&nbsp;&nbsp; 2.00%, 4/20/52 | United States | 5463791 | 4584953 |
| &nbsp;&nbsp;&nbsp; 2.00%, 5/20/52 | United States | 17970838 | 15082037 |
| &nbsp;&nbsp;&nbsp; 2.00%, 6/20/52 | United States | 5471665 | 4591370 |
| &nbsp;&nbsp;&nbsp; 2.50%, 6/20/52 | United States | 3757834 | 3262669 |
|  |  |  | 35932181 |
| **Total Mortgage-Backed Securities (Cost $347,371,042)** |  |  | 317434913 |
| **Foreign Government and Agency Securities 1.2%** |  |  |  |
| **Chile 0.1%** |  |  |  |
| Chile Government International Bond, Sr. Unsecured note, 3.500%, 1/25/50 | Chile | 1100000 | 797361 |
| **Panama 0.0%<sup>†</sup>** |  |  |  |
| Panama Notas del Tesoro, senior note, 3.750%, 4/17/26 | Panama | 450000 | 424354 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; **Peru 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, senior bond, 2.783%, 1/23/31 | Peru | 5850000 | 4853919 |
| &nbsp;&nbsp;&nbsp; **Romania 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Romanian Government International Bond, senior bond, 144A, 5.125%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/15/48 | Romania | 2270000 | 1813049 |
| &nbsp;&nbsp;&nbsp; **South Korea 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Korea Electric Power Corp., Sr. Unsecured, 144A, 5.375%, 4/06/26 | South Korea | 1600000 | 1613707 |
| &nbsp;&nbsp;&nbsp; **Supranational 0.6%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> African Export-Import Bank, senior bond, 144A, 3.994%, 9/21/29 | Supranational | 6100000 | 5319810 |
| &nbsp;&nbsp; <sup>a</sup> Banque Ouest Africaine de Developpement, Sr. Unsecured note, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/27/27 | Supranational | 3800000 | 3588226 |
|  |  |  | 8908036 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government and Agency Securities (Cost $22,547,158)** |  |  | 18410426 |
| &nbsp;&nbsp;&nbsp; **Asset-Backed Securities 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; BANK 2021-BNK33, Series 2021-BN33, Class A5, 2.556%, 5/15/64 | United States | 2780000 | 2303559 |
| &nbsp;&nbsp;&nbsp; BANK 2022-BNK40, Series 2022-BN40, Class A4, 3.394%, 3/15/64 | United States | 2800000 | 2466228 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B31, Class A5, 2.669%,12/15/54 | United States | 2780000 | 2304344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B32, Class A5, 3.002%,1/15/55 | United States | 5560000 | 4711169 |
| &nbsp;&nbsp; <sup>a</sup> BX 2021-LBA3 Mortgage Trust, Series 2021-PAC, Class A, 144A, 5.007%, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/36 | United States | 3090000 | 2970703 |
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, |  |  |  |
| <sup>a</sup> Series 2019-XL, Class A, 144A, 5.37%,10/15/36 | United States | 3778350 | 3734336 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Series 2021-VOLT, Class B, 144A, 5.268%,9/15/36 | United States | 3190000 | 3013883 |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>a</sup> Series 2022-LP2, CLass A, 144A, 5.349%,2/15/39 | United States | 2970848 | 2867763 |
| &nbsp;&nbsp; <sup>a</sup> BX Trust, Series 2022-IND, Class A, 144A, 5.817%, 4/15/37 | United States | 4770628 | 4677965 |
| &nbsp;&nbsp; <sup>a</sup> DBCG Mortgage Trust, Series 2017-BBG, Class A, 144A, 5.018%, 6/15/34 | United States | 7190000 | 7068615 |
| &nbsp;&nbsp; <sup>a</sup> New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 144A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.91%, 10/20/61 | United States | 6660000 | 5639673 |
| &nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities (Cost $45,166,326)** |  |  | 41758238 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term Investments (Cost $1,590,676,042)** |  |  | 1419991823 |
| &nbsp;&nbsp;&nbsp; **Short-Term Investments 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Money Market Funds 1.2%** |  |  |  |
| <sup>b,c</sup> Institutional Fiduciary Trust Portfolio, 3.84% | United States | 17557747 | 17557747 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $17,557,747)** |  |  | 17557747 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $1,608,233,789) 97.0%** |  |  | 1437549570 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 3.0%** |  |  | 43842322 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $1481391892 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br> buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $108,321,865, representing 7.3% of net assets.<br> <sup>b</sup>See Note 3 regarding investments in affiliated management investment companies.<br> <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end.

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following credit default swap contracts outstanding. | At December 31, 2022, the Fund had the following credit default swap contracts outstanding. | At December 31, 2022, the Fund had the following credit default swap contracts outstanding. | At December 31, 2022, the Fund had the following credit default swap contracts outstanding. | At December 31, 2022, the Fund had the following credit default swap contracts outstanding. |  |  |
| **Credit Default Swap Contracts** |  |  |  |  |  |  |
|  | **Periodic** |  |  |  |  |  |
|  | **Payment** |  |  |  | **Unamortized** |  |
|  | **Rate** |  |  |  | **Upfront** | **Unrealized** |
|  | **Received Payment** | **Maturity** | **Notional** |  | **Payments** | **Appreciation** |
| **Description** | **(Paid) Frequency** | **Date** | **Amount** | **Value** | **(Receipts)** | **(Depreciation)** |
| **Over the counter Swap Contracts** |  |  |  |  |  |  |
| **Contracts to Sell Protection<sup>a,b</sup>** |  |  |  |  |  |  |
| Long: 25995201 CDS USD R F 1.00000 Mexico |  |  |  |  |  |  |
| Government International Bond | 1% Quarterly | 6/20/26 | $5200000 | $6470 | $14678 | $(8208) |
|  |  |  |  |  |  | $(8208) |
| <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying | <sup>a</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying |
| securities for traded swaps. |  |  |  |  |  |  |
| <sup>b</sup>The Fund enters contracts to sell protection to create a long credit position. | <sup>b</sup>The Fund enters contracts to sell protection to create a long credit position. |  |  |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  | **Value/Unrealized** |
|  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury 5 Yr. Note | Long | 132 | $14246719 | 3/31/23 | $(28808) |
| \*As of period end. |  |  |  |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**FRN** – Floating Rate Note<br> **USD** – Unified/Union School District

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Core Dividend Tilt Index ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Brazil 0.2%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> MercadoLibre Inc. | Internet & Direct Marketing Retail | 72 | $60929 |
| &nbsp;&nbsp;&nbsp; **China 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | Semiconductors & Semiconductor Equipment | 486 | 76803 |
| &nbsp;&nbsp;&nbsp; **Ireland 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | Technology Hardware, Storage & Peripherals | 450 | 23675 |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a,b</sup> Polymetal International PLC | Metals & Mining | 4860 |  |
| &nbsp;&nbsp; <sup>b</sup> Tatneft PJSC | Oil, Gas & Consumable Fuels | 15990 |  |
| &nbsp;&nbsp;&nbsp; **Switzerland 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; TE Connectivity Ltd. | Electronic Equipment, Instruments & Components | 90 | 10332 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Linde PLC | Chemicals | 180 | 58712 |
| &nbsp;&nbsp;&nbsp; **United States 98.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; 3M Co. | Industrial Conglomerates | 1296 | 155416 |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | Health Care Equipment & Supplies | 1890 | 207503 |
| &nbsp;&nbsp;&nbsp; AbbVie Inc. | Biotechnology | 2178 | 351987 |
| &nbsp;&nbsp;&nbsp; Accenture PLC, A | IT Services | 450 | 120078 |
| &nbsp;&nbsp; <sup>a</sup> Adobe Inc. | Software | 288 | 96921 |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts Inc. | Specialty Retail | 144 | 21172 |
| &nbsp;&nbsp; <sup>a</sup> Advanced Micro Devices Inc. | Semiconductors & Semiconductor Equipment | 1494 | 96766 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies Inc. | Life Sciences Tools & Services | 54 | 8081 |
| &nbsp;&nbsp; <sup>a</sup> agilon health Inc. | Health Care Providers & Services | 108 | 1743 |
| &nbsp;&nbsp;&nbsp; Air Products and Chemicals Inc. | Chemicals | 288 | 88779 |
| &nbsp;&nbsp; <sup>a</sup> Airbnb Inc., A | Hotels, Restaurants & Leisure | 360 | 30780 |
| &nbsp;&nbsp;&nbsp; Albemarle Corp. | Chemicals | 18 | 3903 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities Inc. | Equity Real Estate Investment Trusts (REITs) | 360 | 52441 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | Electric Utilities | 270 | 14907 |
| &nbsp;&nbsp;&nbsp; Ally Financial Inc. | Consumer Finance | 792 | 19364 |
| &nbsp;&nbsp; <sup>a</sup> Alnylam Pharmaceuticals Inc. | Biotechnology | 36 | 8555 |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., A | Interactive Media & Services | 4266 | 376389 |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., C | Interactive Media & Services | 3816 | 338594 |
| &nbsp;&nbsp;&nbsp; Altria Group Inc. | Tobacco | 4194 | 191708 |
| &nbsp;&nbsp; <sup>a</sup> Amazon.com Inc. | Internet & Direct Marketing Retail | 7218 | 606312 |
| &nbsp;&nbsp;&nbsp; Amcor PLC | Containers & Packaging | 3510 | 41804 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co. Inc. | Electric Utilities | 612 | 58109 |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | Equity Real Estate Investment Trusts (REITs) | 378 | 80083 |
| &nbsp;&nbsp;&nbsp; AmerisourceBergen Corp. | Health Care Providers & Services | 108 | 17897 |
| &nbsp;&nbsp;&nbsp; Amgen Inc. | Biotechnology | 702 | 184373 |
| &nbsp;&nbsp;&nbsp; Analog Devices Inc. | Semiconductors & Semiconductor Equipment | 1134 | 186010 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management Inc. | Mortgage Real Estate Investment Trusts (REITs) | 974 | 20532 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management Inc. | Diversified Financial Services | 1008 | 64300 |
| &nbsp;&nbsp;&nbsp; Apple Inc. | Technology Hardware, Storage & Peripherals | 12312 | 1599698 |
| &nbsp;&nbsp;&nbsp; Applied Materials Inc. | Semiconductors & Semiconductor Equipment | 846 | 82384 |
| &nbsp;&nbsp; <sup>a</sup> Arista Networks Inc. | Communications Equipment | 36 | 4369 |
| &nbsp;&nbsp;&nbsp; AT&T Inc. | Diversified Telecommunication Services | 12906 | 237599 |
| &nbsp;&nbsp; <sup>a</sup> Autodesk Inc. | Software | 198 | 37000 |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing Inc. | IT Services | 54 | 12898 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities Inc. | Equity Real Estate Investment Trusts (REITs) | 342 | 55240 |
| &nbsp;&nbsp;&nbsp; Avangrid Inc. | Electric Utilities | 144 | 6189 |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | Energy Equipment & Services | 360 | 10631 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | Banks | 4176 | 138309 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works Inc. | Specialty Retail | 270 | 11378 |
| &nbsp;&nbsp;&nbsp; Baxter International Inc. | Health Care Equipment & Supplies | 450 | 22937 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson and Co. | Health Care Equipment & Supplies | 72 | 18310 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Best Buy Co. Inc. | Specialty Retail | 486 | 38982 |
| <sup>a</sup> Bill.com Holdings Inc. | Software | 126 | 13729 |
| BlackRock Inc. | Capital Markets | 270 | 191330 |
| Blackstone Inc. | Capital Markets | 1890 | 140219 |
| <sup>a</sup> Block Inc. | IT Services | 540 | 33934 |
| <sup>a</sup> Booking Holdings Inc. | Hotels, Restaurants & Leisure | 4 | 8061 |
| Boston Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 360 | 24329 |
| Bristol-Myers Squibb Co. | Pharmaceuticals | 2880 | 207216 |
| Broadcom Inc. | Semiconductors & Semiconductor Equipment | 594 | 332123 |
| Broadridge Financial Solutions Inc. | IT Services | 288 | 38629 |
| Camden Property Trust | Equity Real Estate Investment Trusts (REITs) | 252 | 28194 |
| Campbell Soup Co. | Food Products | 450 | 25538 |
| Cardinal Health Inc. | Health Care Providers & Services | 630 | 48428 |
| Caterpillar Inc. | Machinery | 342 | 81930 |
| Chevron Corp. | Oil, Gas & Consumable Fuels | 1908 | 342467 |
| Cincinnati Financial Corp. | Insurance | 252 | 25802 |
| Cisco Systems Inc. | Communications Equipment | 5724 | 272691 |
| Citigroup Inc. | Banks | 4302 | 194579 |
| Citizens Financial Group Inc. | Banks | 1242 | 48898 |
| <sup>a</sup> Cloudflare Inc., A | Software | 342 | 15462 |
| CMS Energy Corp. | Multi-Utilities | 108 | 6840 |
| Cognex Corp. | Electronic Equipment, Instruments & Components | 234 | 11024 |
| <sup>a</sup> Coinbase Global Inc., A | Capital Markets | 36 | 1274 |
| Colgate-Palmolive Co. | Household Products | 414 | 32619 |
| Comcast Corp., A | Media | 4464 | 156106 |
| Comerica Inc. | Banks | 342 | 22863 |
| Conagra Brands Inc. | Food Products | 1116 | 43189 |
| ConocoPhillips | Oil, Gas & Consumable Fuels | 90 | 10620 |
| Consolidated Edison Inc. | Multi-Utilities | 774 | 73770 |
| Corning Inc. | Electronic Equipment, Instruments & Components | 1818 | 58067 |
| Costco Wholesale Corp. | Food & Staples Retailing | 126 | 57519 |
| Coterra Energy Inc., A | Oil, Gas & Consumable Fuels | 2088 | 51302 |
| <sup>a</sup> Coupang Inc. | Internet & Catalog Retail | 324 | 4766 |
| <sup>a</sup> Crowdstrike Holdings Inc., A | Software | 252 | 26533 |
| Crown Castle Inc. | Equity Real Estate Investment Trusts (REITs) | 1026 | 139167 |
| Cummins Inc. | Machinery | 270 | 65418 |
| CVS Health Corp. | Health Care Providers & Services | 1476 | 137548 |
| Danaher Corp. | Life Sciences Tools & Services | 270 | 71663 |
| Darden Restaurants Inc. | Hotels, Restaurants & Leisure | 288 | 39839 |
| <sup>a</sup> Datadog Inc., A | Software | 306 | 22491 |
| Deere & Co. | Machinery | 126 | 54024 |
| Devon Energy Corp. | Oil, Gas & Consumable Fuels | 1656 | 101861 |
| <sup>a</sup> Dexcom Inc. | Health Care Equipment & Supplies | 234 | 26498 |
| Diamondback Energy Inc. | Oil, Gas & Consumable Fuels | 468 | 64013 |
| Digital Realty Trust Inc. | Equity Real Estate Investment Trusts (REITs) | 702 | 70390 |
| Discover Financial Services | Consumer Finance | 216 | 21131 |
| <sup>a</sup> DocuSign Inc. | Software | 270 | 14963 |
| Dominion Energy Inc. | Multi-Utilities | 2034 | 124725 |
| <sup>a</sup> DoorDash Inc., A | Internet & Direct Marketing Retail | 306 | 14939 |
| Dow Inc. | Chemicals | 1710 | 86167 |
| Duke Energy Corp. | Electric Utilities | 1800 | 185382 |
| <sup>a</sup> Dynatrace Inc. | Software | 306 | 11720 |
| Eastman Chemical Co. | Chemicals | 288 | 23455 |
| Eaton Corp. PLC | Electrical Equipment | 576 | 90403 |
| eBay Inc. | Internet & Direct Marketing Retail | 1026 | 42548 |
| Edison International | Electric Utilities | 918 | 58403 |
| <sup>a</sup> Edwards Lifesciences Corp. | Health Care Equipment & Supplies | 90 | 6715 |
| Elevance Health Inc. | Health Care Providers & Services | 36 | 18467 |
| Eli Lilly & Co. | Pharmaceuticals | 720 | 263405 |
| Emerson Electric Co. | Electrical Equipment | 558 | 53602 |
| <sup>a</sup> Enphase Energy Inc. | Semiconductors & Semiconductor Equipment | 144 | 38154 |
| Entegris Inc. | Semiconductors & Semiconductor Equipment | 180 | 11806 |
| Entergy Corp. | Electric Utilities | 468 | 52650 |
| <sup>a</sup> EPAM Systems Inc. | IT Services | 36 | 11799 |
| Equinix Inc. | Equity Real Estate Investment Trusts (REITs) | 90 | 58953 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Equity Residential | Equity Real Estate Investment Trusts (REITs) | 828 | 48852 |
| &nbsp;&nbsp;&nbsp; Essex Property Trust Inc. | Equity Real Estate Investment Trusts (REITs) | 162 | 34331 |
| &nbsp;&nbsp; <sup>a</sup> Etsy Inc. | Internet & Direct Marketing Retail | 126 | 15092 |
| &nbsp;&nbsp;&nbsp; Evergy Inc. | Electric Utilities | 504 | 31717 |
| &nbsp;&nbsp;&nbsp; Eversource Energy | Electric Utilities | 360 | 30182 |
| &nbsp;&nbsp; <sup>a</sup> Exact Sciences Corp. | Biotechnology | 144 | 7129 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | Electric Utilities | 414 | 17897 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage Inc. | Equity Real Estate Investment Trusts (REITs) | 324 | 47686 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | Oil, Gas & Consumable Fuels | 4806 | 530102 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | Trading Companies & Distributors | 1386 | 65586 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | Equity Real Estate Investment Trusts (REITs) | 180 | 18187 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | Air Freight & Logistics | 108 | 18706 |
| &nbsp;&nbsp;&nbsp; Fidelity National Financial Inc. | Insurance | 702 | 26409 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services Inc. | IT Services | 450 | 30533 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | Banks | 1782 | 58467 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | Electric Utilities | 1260 | 52844 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | Automobiles | 9792 | 113881 |
| &nbsp;&nbsp; <sup>a</sup> Fortinet Inc. | Software | 396 | 19360 |
| &nbsp;&nbsp;&nbsp; Franklin Resources Inc. | Capital Markets | 630 | 16619 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc. | Metals & Mining | 252 | 9576 |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | Household Durables | 342 | 31563 |
| &nbsp;&nbsp;&nbsp; Gen Digital Inc. | Software | 630 | 13501 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | Aerospace & Defense | 72 | 17864 |
| &nbsp;&nbsp;&nbsp; General Mills Inc. | Food Products | 252 | 21130 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | Distributors | 234 | 40601 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences Inc. | Biotechnology | 2196 | 188527 |
| &nbsp;&nbsp;&nbsp; Hasbro Inc. | Leisure Products | 324 | 19767 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 1332 | 33393 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | Technology Hardware, Storage & Peripherals | 3042 | 48550 |
| &nbsp;&nbsp;&nbsp; Honeywell International Inc. | Industrial Conglomerates | 234 | 50146 |
| &nbsp;&nbsp;&nbsp; HP Inc. | Technology Hardware, Storage & Peripherals | 2088 | 56105 |
| &nbsp;&nbsp;&nbsp; Hubbell Inc., B | Electrical Equipment | 108 | 25345 |
| &nbsp;&nbsp; <sup>a</sup> HubSpot Inc. | Software | 72 | 20817 |
| &nbsp;&nbsp;&nbsp; Humana Inc. | Health Care Providers & Services | 8 | 4098 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares Inc. | Banks | 3564 | 50252 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works Inc. | Machinery | 504 | 111031 |
| &nbsp;&nbsp; <sup>a</sup> Illumina Inc. | Life Sciences Tools & Services | 54 | 10919 |
| &nbsp;&nbsp; <sup>a</sup> Insulet Corp. | Health Care Equipment & Supplies | 36 | 10598 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | Semiconductors & Semiconductor Equipment | 8298 | 219316 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | IT Services | 1656 | 233314 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances Inc. | Chemicals | 594 | 62275 |
| &nbsp;&nbsp;&nbsp; International Paper Co. | Containers & Packaging | 882 | 30544 |
| &nbsp;&nbsp;&nbsp; Intuit Inc. | Software | 252 | 98083 |
| &nbsp;&nbsp; <sup>a</sup> Intuitive Surgical Inc. | Health Care Equipment & Supplies | 126 | 33434 |
| &nbsp;&nbsp;&nbsp; Invesco Ltd. | Capital Markets | 1098 | 19753 |
| &nbsp;&nbsp;&nbsp; Invitation Homes Inc. | Equity Real Estate Investment Trusts (REITs) | 432 | 12804 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Inc. | Equity Real Estate Investment Trusts (REITs) | 666 | 33200 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group Inc. | Capital Markets | 450 | 15426 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | Pharmaceuticals | 2826 | 499213 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | Building Products | 252 | 16128 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | Banks | 2664 | 357242 |
| &nbsp;&nbsp;&nbsp; Juniper Networks Inc. | Communications Equipment | 756 | 24162 |
| &nbsp;&nbsp;&nbsp; Kellogg Co. | Food Products | 594 | 42317 |
| &nbsp;&nbsp;&nbsp; KeyCorp | Banks | 2394 | 41704 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | Household Products | 774 | 105071 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | Equity Real Estate Investment Trusts (REITs) | 1548 | 32787 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc. | Oil, Gas & Consumable Fuels | 4986 | 90147 |
| &nbsp;&nbsp;&nbsp; KKR & Co. Inc. | Capital Markets | 360 | 16711 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | Semiconductors & Semiconductor Equipment | 252 | 95012 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | Semiconductors & Semiconductor Equipment | 198 | 83219 |
| &nbsp;&nbsp;&nbsp; Lear Corp. | Auto Components | 162 | 20091 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | Insurance | 450 | 13824 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | Aerospace & Defense | 180 | 87568 |
| &nbsp;&nbsp;&nbsp; Lowe's Companies Inc. | Specialty Retail | 342 | 68140 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies Inc. | Diversified Telecommunication Services | 2376 | 12403 |

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------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| LyondellBasell Industries NV, A | Chemicals | 630 | 52309 |
| M&T Bank Corp. | Banks | 342 | 49611 |
| MarketAxess Holdings Inc. | Capital Markets | 54 | 15060 |
| Marvell Technology Inc. | Semiconductors & Semiconductor Equipment | 990 | 36670 |
| Masco Corp. | Building Products | 144 | 6720 |
| Mastercard Inc., A | IT Services | 486 | 168997 |
| <sup>a</sup> Match Group Inc. | Interactive Media & Services | 162 | 6721 |
| McDonald's Corp. | Hotels, Restaurants & Leisure | 306 | 80640 |
| Medtronic PLC | Health Care Equipment & Supplies | 2124 | 165077 |
| Merck & Co. Inc. | Pharmaceuticals | 3078 | 341504 |
| <sup>a</sup> Meta Platforms Inc., A | Interactive Media & Services | 1494 | 179788 |
| MetLife Inc. | Insurance | 648 | 46896 |
| Microchip Technology Inc. | Semiconductors & Semiconductor Equipment | 1332 | 93573 |
| Micron Technology Inc. | Semiconductors & Semiconductor Equipment | 612 | 30588 |
| Microsoft Corp. | Software | 6210 | 1489282 |
| Mid-America Apartment Communities Inc. | Equity Real Estate Investment Trusts (REITs) | 252 | 39561 |
| <sup>a</sup> Moderna Inc. | Biotechnology | 108 | 19399 |
| Mondelez International Inc., A | Food Products | 18 | 1200 |
| <sup>a</sup> MongoDB Inc. | IT Services | 90 | 17716 |
| Monolithic Power Systems Inc. | Semiconductors & Semiconductor Equipment | 108 | 38190 |
| Morgan Stanley | Capital Markets | 1962 | 166809 |
| MSCI Inc. | Capital Markets | 152 | 70706 |
| NetApp Inc. | Technology Hardware, Storage & Peripherals | 540 | 32432 |
| <sup>a</sup> Netflix Inc. | Entertainment | 324 | 95541 |
| Newmont Corp. | Metals & Mining | 1674 | 79013 |
| NextEra Energy Inc. | Electric Utilities | 594 | 49658 |
| NIKE Inc., B | Textiles, Apparel & Luxury Goods | 756 | 88460 |
| NiSource Inc. | Multi-Utilities | 864 | 23691 |
| Northern Trust Corp. | Capital Markets | 522 | 46192 |
| NRG Energy Inc. | Electric Utilities | 720 | 22910 |
| NVIDIA Corp. | Semiconductors & Semiconductor Equipment | 2016 | 294618 |
| <sup>a</sup> Okta Inc. | IT Services | 162 | 11069 |
| Omnicom Group Inc. | Media | 504 | 41111 |
| <sup>a</sup> ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 360 | 22453 |
| ONEOK Inc. | Oil, Gas & Consumable Fuels | 1098 | 72139 |
| Oracle Corp. | Software | 1404 | 114763 |
| Packaging Corp. of America | Containers & Packaging | 216 | 27629 |
| <sup>a</sup> Palantir Technologies Inc., A | Software | 2808 | 18027 |
| <sup>a</sup> Palo Alto Networks Inc. | Software | 144 | 20094 |
| Paramount Global, B | Media | 1332 | 22484 |
| Paychex Inc. | IT Services | 720 | 83203 |
| <sup>a</sup> Paycom Software Inc. | Software | 18 | 5586 |
| <sup>a</sup> PayPal Holdings Inc. | IT Services | 738 | 52560 |
| PepsiCo Inc. | Beverages | 1458 | 263402 |
| Pfizer Inc. | Pharmaceuticals | 6156 | 315433 |
| Philip Morris International Inc. | Tobacco | 2538 | 256871 |
| Phillips 66 | Oil, Gas & Consumable Fuels | 1044 | 108660 |
| Pinnacle West Capital Corp. | Electric Utilities | 270 | 20531 |
| <sup>a</sup> Pinterest Inc., A | Interactive Media & Services | 1044 | 25348 |
| Pioneer Natural Resources Co. | Oil, Gas & Consumable Fuels | 594 | 135664 |
| <sup>a</sup> Plug Power Inc. | Electrical Equipment | 810 | 10020 |
| PNC Financial Services Group Inc. | Banks | 1044 | 164889 |
| PPG Industries Inc. | Chemicals | 126 | 15843 |
| PPL Corp. | Electric Utilities | 1746 | 51018 |
| Principal Financial Group Inc. | Insurance | 540 | 45317 |
| Prologis Inc. | Equity Real Estate Investment Trusts (REITs) | 576 | 64933 |
| Prudential Financial Inc. | Insurance | 918 | 91304 |
| Public Service Enterprise Group Inc. | Multi-Utilities | 1116 | 68377 |
| Public Storage | Equity Real Estate Investment Trusts (REITs) | 252 | 70608 |
| QUALCOMM Inc. | Semiconductors & Semiconductor Equipment | 1656 | 182061 |
| Raytheon Technologies Corp. | Aerospace & Defense | 1008 | 101727 |
| Realty Income Corp. | Equity Real Estate Investment Trusts (REITs) | 1422 | 90197 |
| Regency Centers Corp. | Equity Real Estate Investment Trusts (REITs) | 360 | 22500 |
| Regions Financial Corp. | Banks | 2286 | 49286 |
| ResMed Inc. | Health Care Equipment & Supplies | 54 | 11239 |

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------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> ROBLOX Corp., A | Entertainment | 288 | 8196 |
| &nbsp;&nbsp;&nbsp; Rockwell Automation Inc. | Electrical Equipment | 198 | 50999 |
| &nbsp;&nbsp; <sup>a</sup> Roku Inc. | Entertainment | 198 | 8059 |
| &nbsp;&nbsp;&nbsp; Ross Stores Inc. | Specialty Retail | 126 | 14625 |
| &nbsp;&nbsp;&nbsp; S&P Global Inc. | Capital Markets | 90 | 30145 |
| &nbsp;&nbsp; <sup>a</sup> Salesforce Inc. | Software | 702 | 93078 |
| &nbsp;&nbsp; <sup>a</sup> ServiceNow Inc. | Software | 180 | 69889 |
| &nbsp;&nbsp;&nbsp; Simon Property Group Inc. | Real Estate Investment Trusts (REITs) | 774 | 90930 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions Inc. | Semiconductors & Semiconductor Equipment | 378 | 34447 |
| &nbsp;&nbsp; <sup>a</sup> Snap Inc., A | Interactive Media & Services | 1062 | 9505 |
| &nbsp;&nbsp;&nbsp; Snap-on Inc. | Machinery | 126 | 28790 |
| &nbsp;&nbsp; <sup>a</sup> Snowflake Inc., A | IT Services | 288 | 41340 |
| &nbsp;&nbsp; <sup>a</sup> SolarEdge Technologies Inc. | Semiconductors & Semiconductor Equipment | 36 | 10198 |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp. | Metals & Mining | 198 | 11957 |
| &nbsp;&nbsp; <sup>a</sup> Splunk Inc. | Software | 36 | 3099 |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker Inc. | Machinery | 360 | 27043 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | Hotels, Restaurants & Leisure | 1440 | 142848 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | Capital Markets | 846 | 65624 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | Consumer Finance | 864 | 28391 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | Food & Staples Retailing | 252 | 19265 |
| &nbsp;&nbsp;&nbsp; T Rowe Price Group Inc. | Capital Markets | 540 | 58892 |
| &nbsp;&nbsp;&nbsp; Tapestry Inc. | Textiles, Apparel & Luxury Goods | 594 | 22620 |
| &nbsp;&nbsp;&nbsp; Target Corp. | Multiline Retail | 432 | 64385 |
| &nbsp;&nbsp;&nbsp; Teradyne Inc. | Semiconductors & Semiconductor Equipment | 108 | 9434 |
| &nbsp;&nbsp; <sup>a</sup> Tesla Inc. | Automobiles | 2358 | 290458 |
| &nbsp;&nbsp;&nbsp; Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | 1512 | 249813 |
| &nbsp;&nbsp;&nbsp; The AES Corp. | Independent Power Producers & Energy Traders | 1512 | 43485 |
| &nbsp;&nbsp;&nbsp; The Bank of New York Mellon Corp. | Capital Markets | 1224 | 55717 |
| &nbsp;&nbsp;&nbsp; The Carlyle Group Inc. | Capital Markets | 540 | 16114 |
| &nbsp;&nbsp;&nbsp; The Charles Schwab Corp. | Capital Markets | 306 | 25478 |
| &nbsp;&nbsp;&nbsp; The Clorox Co. | Household Products | 288 | 40415 |
| &nbsp;&nbsp;&nbsp; The Coca-Cola Co. | Beverages | 5220 | 332044 |
| &nbsp;&nbsp;&nbsp; The Estee Lauder Companies Inc., A | Personal Products | 108 | 26796 |
| &nbsp;&nbsp;&nbsp; The Goldman Sachs Group Inc. | Capital Markets | 108 | 37085 |
| &nbsp;&nbsp;&nbsp; The Home Depot Inc. | Specialty Retail | 936 | 295645 |
| &nbsp;&nbsp;&nbsp; The Interpublic Group of Companies Inc. | Media | 972 | 32377 |
| &nbsp;&nbsp;&nbsp; The J M Smucker Co. | Food Products | 108 | 17114 |
| &nbsp;&nbsp;&nbsp; The Kraft Heinz Co. | Food Products | 1836 | 74744 |
| &nbsp;&nbsp;&nbsp; The Procter & Gamble Co. | Household Products | 1998 | 302817 |
| &nbsp;&nbsp;&nbsp; The Sherwin-Williams Co. | Chemicals | 36 | 8544 |
| &nbsp;&nbsp;&nbsp; The Southern Co. | Electric Utilities | 2448 | 174812 |
| &nbsp;&nbsp;&nbsp; The TJX Companies Inc. | Specialty Retail | 270 | 21492 |
| &nbsp;&nbsp; <sup>a</sup> The Trade Desk Inc., A | Software | 576 | 25822 |
| &nbsp;&nbsp; <sup>a</sup> The Walt Disney Co. | Media | 450 | 39096 |
| &nbsp;&nbsp;&nbsp; The Williams Companies Inc. | Oil, Gas & Consumable Fuels | 3006 | 98897 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc. | Life Sciences Tools & Services | 180 | 99124 |
| &nbsp;&nbsp; <sup>a</sup> T-Mobile US Inc. | Wireless Telecommunication Services | 36 | 5040 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | Specialty Retail | 162 | 36445 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | Banks | 3456 | 148712 |
| &nbsp;&nbsp; <sup>a</sup> Twilio Inc., A | IT Services | 198 | 9694 |
| &nbsp;&nbsp; <sup>a</sup> Uber Technologies Inc. | Road & Rail | 1188 | 29379 |
| &nbsp;&nbsp;&nbsp; UDR Inc. | Equity Real Estate Investment Trusts (REITs) | 756 | 29280 |
| &nbsp;&nbsp;&nbsp; UGI Corp. | Gas Utilities | 486 | 18016 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | Road & Rail | 468 | 96909 |
| &nbsp;&nbsp;&nbsp; United Parcel Service Inc., B | Air Freight & Logistics | 1314 | 228426 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc. | Health Care Providers & Services | 630 | 334013 |
| &nbsp;&nbsp; <sup>a</sup> Unity Software Inc. | Software | 468 | 13380 |
| &nbsp;&nbsp;&nbsp; US Bancorp | Banks | 3294 | 143651 |
| &nbsp;&nbsp;&nbsp; Vail Resorts Inc. | Hotels, Restaurants & Leisure | 90 | 21452 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | Oil, Gas & Consumable Fuels | 324 | 41103 |
| &nbsp;&nbsp; <sup>a</sup> Veeva Systems Inc., A | Health Care Technology | 36 | 5810 |
| &nbsp;&nbsp;&nbsp; Ventas Inc. | Equity Real Estate Investment Trusts (REITs) | 972 | 43789 |
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc. | Diversified Telecommunication Services | 7200 | 283680 |
| &nbsp;&nbsp;&nbsp; VF Corp. | Textiles, Apparel & Luxury Goods | 882 | 24352 |
| &nbsp;&nbsp;&nbsp; Viatris Inc. | Pharmaceuticals | 2934 | 32655 |

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------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;VICI Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 2286 | 74066 |
| &nbsp;&nbsp;&nbsp;Visa Inc., A | IT Services | 918 | 190724 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | Independent Power Producers & Energy Traders | 864 | 20045 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | Food & Staples Retailing | 1692 | 63213 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | Food & Staples Retailing | 576 | 81671 |
| &nbsp;&nbsp;&nbsp;Watsco Inc. | Trading Companies & Distributors | 72 | 17957 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | Multi-Utilities | 288 | 27003 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | Banks | 2466 | 101821 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | Equity Real Estate Investment Trusts (REITs) | 1116 | 73154 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | Equity Real Estate Investment Trusts (REITs) | 1818 | 56358 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | Household Durables | 126 | 17824 |
| &nbsp;&nbsp;<sup>a</sup> Workday Inc., A | Software | 108 | 18072 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | Equity Real Estate Investment Trusts (REITs) | 486 | 37981 |
| &nbsp;&nbsp;<sup>a</sup> Zillow Group Inc., C | Real Estate Management & Development | 162 | 5218 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | Banks | 270 | 13273 |
| &nbsp;&nbsp;<sup>a</sup> Zoom Video Communications Inc., A | Software | 198 | 13413 |
| &nbsp;&nbsp;<sup>a</sup> ZoomInfo Technologies Inc., A | Interactive Media & Services | 252 | 7588 |
| &nbsp;&nbsp;<sup>a</sup> Zscaler Inc. | Software | 126 | 14099 |
|  |  |  | 26780824 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $29,434,470) 99.6%** |  |  | 27011275 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.4%** |  |  | 104282 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $27115557 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |  |
| <sup>a</sup>Non-income producing. |  |  |  |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. | <sup>b</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements. |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** | **Description** | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Equity Contracts** | **Equity Contracts** |  |  |  |  |  |
| S&P 500 E-Mini | S&P 500 E-Mini | Long | 4 | $77220 | 3/17/23 | $(2167) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **REIT** | – Real Estate Investment Trust |  |  |  |  |  |

---

------

 **FRANKLIN TEMPLETON ETF TRUST**

 **Schedule of Investments, December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Equity Index ETF** | **Industry** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Brazil 0.1%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> MercadoLibre Inc. | Internet & Direct Marketing Retail | 827 | $699840 |
| &nbsp;&nbsp;&nbsp; **China 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | Semiconductors & Semiconductor Equipment | 4706 | 743689 |
| <sup>a,b</sup> Sunac China Holdings Ltd. | Real Estate Management & Development | 1000 | 206 |
|  |  |  | 743895 |
| &nbsp;&nbsp;&nbsp; **Ireland 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | Technology Hardware, Storage & Peripherals | 3437 | 180820 |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a,b</sup> Alrosa PJSC | Metals & Mining | 3584 |  |
| &nbsp;&nbsp; <sup>b</sup> Gazprom PJSC | Oil, Gas & Consumable Fuels | 15428 |  |
| &nbsp;&nbsp; <sup>b</sup> Inter RAO UES PJSC | Electric Utilities | 53546 |  |
| &nbsp;&nbsp; <sup>b</sup> LUKOIL PJSC | Oil, Gas & Consumable Fuels | 516 |  |
| &nbsp;&nbsp; <sup>b</sup> MMC Norilsk Nickel PJSC | Metals & Mining | 100 |  |
| &nbsp;&nbsp; <sup>b</sup> Novolipetsk Steel PJSC | Metals & Mining | 2272 |  |
| &nbsp;&nbsp; <sup>b</sup> PhosAgro PJSC | Chemicals | 73 |  |
| &nbsp;&nbsp; <sup>b</sup> PhosAgro PJSC | Chemicals | 2 |  |
| <sup>a,b</sup> Polymetal International PLC | Metals & Mining | 470 |  |
| <sup>a,b</sup> Polyus PJSC | Metals & Mining | 50 |  |
| &nbsp;&nbsp; <sup>b</sup> Rosneft Oil Co. PJSC | Oil, Gas & Consumable Fuels | 1154 |  |
| &nbsp;&nbsp; <sup>b</sup> Severstal PAO | Metals & Mining | 392 |  |
| &nbsp;&nbsp; <sup>b</sup> Surgutneftegas PJSC | Oil, Gas & Consumable Fuels | 8286 |  |
| &nbsp;&nbsp; <sup>b</sup> Tatneft PJSC | Oil, Gas & Consumable Fuels | 1974 |  |
| <sup>a,b</sup> TCS Group Holding PLC, GDR | Banks | 118 |  |
| &nbsp;&nbsp; <sup>b</sup> United Co. RUSAL International PJSC | Metals & Mining | 1714 |  |
| &nbsp;&nbsp;&nbsp; **Switzerland 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; TE Connectivity Ltd. | Electronic Equipment, Instruments & Components | 5792 | 664922 |
| &nbsp;&nbsp;&nbsp; **United Kingdom 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Linde PLC | Chemicals | 8867 | 2892238 |
| &nbsp;&nbsp;&nbsp; **United States 98.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp; 3M Co. | Industrial Conglomerates | 9774 | 1172098 |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | Health Care Equipment & Supplies | 31311 | 3437635 |
| &nbsp;&nbsp;&nbsp; AbbVie Inc. | Biotechnology | 31494 | 5089745 |
| &nbsp;&nbsp;&nbsp; Accenture PLC, A | IT Services | 11222 | 2994478 |
| &nbsp;&nbsp;&nbsp; Activision Blizzard Inc. | Entertainment | 12670 | 969888 |
| &nbsp;&nbsp; <sup>a</sup> Adobe Inc. | Software | 8326 | 2801949 |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts Inc. | Specialty Retail | 1086 | 159675 |
| &nbsp;&nbsp; <sup>a</sup> Advanced Micro Devices Inc. | Semiconductors & Semiconductor Equipment | 28960 | 1875739 |
| &nbsp;&nbsp;&nbsp; Aflac Inc. | Insurance | 10136 | 729184 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies Inc. | Life Sciences Tools & Services | 5430 | 812599 |
| &nbsp;&nbsp; <sup>a</sup> agilon health Inc. | Health Care Providers & Services | 3437 | 55473 |
| &nbsp;&nbsp;&nbsp; Air Products and Chemicals Inc. | Chemicals | 3982 | 1227491 |
| &nbsp;&nbsp; <sup>a</sup> Airbnb Inc., A | Hotels, Restaurants & Leisure | 7057 | 603373 |
| &nbsp;&nbsp; <sup>a</sup> Akamai Technologies Inc. | IT Services | 2896 | 244133 |
| &nbsp;&nbsp;&nbsp; Albemarle Corp. | Chemicals | 2172 | 471020 |
| &nbsp;&nbsp;&nbsp; Albertsons Companies Inc. | Food & Staples Retailing | 2896 | 60063 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities Inc. | Equity Real Estate Investment Trusts (REITs) | 2713 | 395203 |
| &nbsp;&nbsp; <sup>a</sup> Align Technology Inc. | Health Care Equipment & Supplies | 1267 | 267210 |
| &nbsp;&nbsp;&nbsp; Allegion PLC | Building Products | 1627 | 171258 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | Electric Utilities | 4706 | 259818 |
| &nbsp;&nbsp;&nbsp; Ally Financial Inc. | Consumer Finance | 5609 | 137140 |
| &nbsp;&nbsp; <sup>a</sup> Alnylam Pharmaceuticals Inc. | Biotechnology | 2172 | 516176 |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., A | Interactive Media & Services | 107152 | 9454021 |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., C | Interactive Media & Services | 94844 | 8415508 |
| &nbsp;&nbsp;&nbsp; Altria Group Inc. | Tobacco | 32218 | 1472685 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| <sup>a</sup> Amazon.com Inc. | Internet & Direct Marketing Retail | 158918 | 13349112 |
| Amcor PLC | Containers & Packaging | 27150 | 323357 |
| Ameren Corp. | Multi-Utilities | 4706 | 418458 |
| American Electric Power Co. Inc. | Electric Utilities | 9050 | 859297 |
| American Express Co. | Consumer Finance | 10860 | 1604565 |
| American Financial Group Inc. | Insurance | 1265 | 173659 |
| American International Group Inc. | Insurance | 13394 | 847037 |
| American Tower Corp. | Equity Real Estate Investment Trusts (REITs) | 8326 | 1763946 |
| American Water Works Co. Inc. | Water Utilities | 3258 | 496584 |
| Ameriprise Financial Inc. | Capital Markets | 1810 | 563580 |
| AmerisourceBergen Corp. | Health Care Providers & Services | 2896 | 479896 |
| AMETEK Inc. | Electrical Equipment | 3982 | 556365 |
| Amgen Inc. | Biotechnology | 9591 | 2518980 |
| Amphenol Corp., A | Electronic Equipment, Instruments & Components | 10498 | 799318 |
| Analog Devices Inc. | Semiconductors & Semiconductor Equipment | 9229 | 1513833 |
| Annaly Capital Management Inc. | Mortgage Real Estate Investment Trusts (REITs) | 8326 | 175512 |
| <sup>a</sup> ANSYS Inc. | Software | 1448 | 349822 |
| Aon PLC, A | Insurance | 3620 | 1086507 |
| APA Corp. | Oil, Gas & Consumable Fuels | 5792 | 270371 |
| Apollo Global Management Inc. | Diversified Financial Services | 7781 | 496350 |
| Apple Inc. | Technology Hardware, Storage & Peripherals | 267518 | 34758614 |
| Applied Materials Inc. | Semiconductors & Semiconductor Equipment | 15204 | 1480566 |
| <sup>a</sup> Aptiv PLC | Auto Components | 4706 | 438270 |
| Aramark | Hotels, Restaurants & Leisure | 4523 | 186981 |
| <sup>a</sup> Arch Capital Group Ltd. | Insurance | 6516 | 409074 |
| Archer-Daniels-Midland Co. | Food Products | 9774 | 907516 |
| <sup>a</sup> Arista Networks Inc. | Communications Equipment | 4344 | 527144 |
| Arthur J Gallagher & Co. | Insurance | 3799 | 716263 |
| <sup>a</sup> Aspen Technology Inc. | Software | 362 | 74355 |
| AT&T Inc. | Diversified Telecommunication Services | 127062 | 2339211 |
| <sup>a</sup> Atlassian Corp., A | Software | 2534 | 326075 |
| Atmos Energy Corp. | Gas Utilities | 2534 | 283985 |
| <sup>a</sup> Autodesk Inc. | Software | 3982 | 744116 |
| Automatic Data Processing Inc. | IT Services | 7419 | 1772102 |
| <sup>a</sup> AutoZone Inc. | Specialty Retail | 338 | 833569 |
| AvalonBay Communities Inc. | Equity Real Estate Investment Trusts (REITs) | 2534 | 409292 |
| Avangrid Inc. | Electric Utilities | 1086 | 46676 |
| <sup>a</sup> Avantor Inc. | Life Sciences Tools & Services | 11946 | 251941 |
| Avery Dennison Corp. | Containers & Packaging | 1448 | 262088 |
| Baker Hughes Co. | Energy Equipment & Services | 17738 | 523803 |
| Ball Corp. | Containers & Packaging | 5609 | 286844 |
| Bank of America Corp. | Banks | 125252 | 4148346 |
| Bath & Body Works Inc. | Specialty Retail | 3982 | 167801 |
| Baxter International Inc. | Health Care Equipment & Supplies | 9050 | 461279 |
| Becton Dickinson and Co. | Health Care Equipment & Supplies | 5068 | 1288792 |
| Bentley Systems Inc., B | Software | 3437 | 127032 |
| <sup>a</sup> Berkshire Hathaway Inc., B | Diversified Financial Services | 32218 | 9952140 |
| Best Buy Co. Inc. | Specialty Retail | 3620 | 290360 |
| <sup>a</sup> Bill.com Holdings Inc. | Software | 1627 | 177278 |
| <sup>a</sup> Biogen Inc. | Biotechnology | 2534 | 701715 |
| <sup>a</sup> BioMarin Pharmaceutical Inc. | Biotechnology | 3258 | 337170 |
| <sup>a</sup> Bio-Rad Laboratories Inc., A | Life Sciences Tools & Services | 362 | 152217 |
| Bio-Techne Corp. | Life Sciences Tools & Services | 2896 | 240020 |
| BlackRock Inc. | Capital Markets | 2691 | 1906923 |
| Blackstone Inc. | Capital Markets | 12308 | 913131 |
| <sup>a</sup> Block Inc. | IT Services | 9774 | 614198 |
| <sup>a</sup> Booking Holdings Inc. | Hotels, Restaurants & Leisure | 693 | 1396589 |
| Booz Allen Hamilton Holding Corp. | Professional Services | 2534 | 264854 |
| BorgWarner Inc. | Auto Components | 4344 | 174846 |
| Boston Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 2534 | 171248 |
| <sup>a</sup> Boston Scientific Corp. | Health Care Equipment & Supplies | 25702 | 1189232 |
| Bristol-Myers Squibb Co. | Pharmaceuticals | 38010 | 2734819 |
| Broadcom Inc. | Semiconductors & Semiconductor Equipment | 7240 | 4048101 |
| Broadridge Financial Solutions Inc. | IT Services | 2172 | 291330 |
| Brown & Brown Inc. | Insurance | 4344 | 247478 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Brown-Forman Corp., A | Beverages | 903 | 59381 |
| &nbsp;&nbsp;&nbsp; Brown-Forman Corp., B | Beverages | 3258 | 213985 |
| &nbsp;&nbsp;&nbsp; Bunge Ltd. | Food Products | 2713 | 270676 |
| &nbsp;&nbsp; <sup>a</sup> Burlington Stores Inc. | Specialty Retail | 1086 | 220197 |
| &nbsp;&nbsp; <sup>a</sup> Cadence Design Systems Inc. | Software | 4885 | 784726 |
| &nbsp;&nbsp; <sup>a</sup> Caesars Entertainment Inc. | Hotels, Restaurants & Leisure | 3799 | 158038 |
| &nbsp;&nbsp;&nbsp; Camden Property Trust | Equity Real Estate Investment Trusts (REITs) | 1810 | 202503 |
| &nbsp;&nbsp;&nbsp; Campbell Soup Co. | Food Products | 3620 | 205435 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | Consumer Finance | 6878 | 639379 |
| &nbsp;&nbsp;&nbsp; Cardinal Health Inc. | Health Care Providers & Services | 4706 | 361750 |
| &nbsp;&nbsp; <sup>a</sup> CarMax Inc. | Specialty Retail | 2896 | 176337 |
| &nbsp;&nbsp; <sup>a</sup> Carnival Corp. | Hotels, Restaurants & Leisure | 18100 | 145886 |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | Building Products | 15021 | 619616 |
| &nbsp;&nbsp; <sup>a</sup> Catalent Inc. | Pharmaceuticals | 3075 | 138406 |
| &nbsp;&nbsp;&nbsp; Caterpillar Inc. | Machinery | 9412 | 2254739 |
| &nbsp;&nbsp; <sup>a</sup> CBRE Group Inc., A | Real Estate Management & Development | 5430 | 417893 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | Electronic Equipment, Instruments & Components | 2534 | 452522 |
| &nbsp;&nbsp;&nbsp; Celanese Corp. | Chemicals | 1810 | 185054 |
| &nbsp;&nbsp; <sup>a</sup> Centene Corp. | Health Care Providers & Services | 10315 | 845933 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Inc. | Multi-Utilities | 11039 | 331060 |
| &nbsp;&nbsp; <sup>a</sup> Ceridian HCM Holding Inc. | Software | 2896 | 185778 |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings Inc. | Chemicals | 3620 | 308424 |
| &nbsp;&nbsp;&nbsp; CH Robinson Worldwide Inc. | Air Freight & Logistics | 2172 | 198868 |
| &nbsp;&nbsp; <sup>a</sup> Charles River Laboratories International Inc. | Life Sciences Tools & Services | 903 | 196764 |
| &nbsp;&nbsp; <sup>a</sup> Charter Communications Inc., A | Media | 1990 | 674809 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Inc. | Oil, Gas & Consumable Fuels | 4344 | 651426 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | Oil, Gas & Consumable Fuels | 31856 | 5717833 |
| &nbsp;&nbsp; <sup>a</sup> Chipotle Mexican Grill Inc. | Hotels, Restaurants & Leisure | 496 | 688195 |
| &nbsp;&nbsp;&nbsp; Chubb Ltd. | Insurance | 7419 | 1636631 |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co. Inc. | Household Products | 4344 | 350170 |
| &nbsp;&nbsp;&nbsp; Cigna Corp. | Health Care Providers & Services | 5430 | 1799176 |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | Insurance | 2896 | 296521 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | Commercial Services & Supplies | 1448 | 653946 |
| &nbsp;&nbsp;&nbsp; Cisco Systems Inc. | Communications Equipment | 73486 | 3500873 |
| &nbsp;&nbsp;&nbsp; Citigroup Inc. | Banks | 34752 | 1571833 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group Inc. | Banks | 8867 | 349094 |
| &nbsp;&nbsp; <sup>a</sup> Clarivate PLC | Professional Services | 7419 | 61874 |
| &nbsp;&nbsp; <sup>a</sup> Cloudflare Inc., A | Software | 4885 | 220851 |
| &nbsp;&nbsp;&nbsp; CME Group Inc. | Capital Markets | 6516 | 1095731 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. | Multi-Utilities | 5430 | 343882 |
| &nbsp;&nbsp;&nbsp; Cognex Corp. | Electronic Equipment, Instruments & Components | 3258 | 153484 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., A | IT Services | 9412 | 538272 |
| <sup>a,c</sup> Coinbase Global Inc., A | Capital Markets | 2713 | 96013 |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | Household Products | 14842 | 1169401 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., A | Media | 77106 | 2696397 |
| &nbsp;&nbsp;&nbsp; Comerica Inc. | Banks | 2172 | 145198 |
| &nbsp;&nbsp;&nbsp; Conagra Brands Inc. | Food Products | 8688 | 336226 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | Oil, Gas & Consumable Fuels | 22444 | 2648392 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison Inc. | Multi-Utilities | 6333 | 603598 |
| &nbsp;&nbsp;&nbsp; Constellation Brands Inc., A | Beverages | 2896 | 671148 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Corp. | Electric Utilities | 5792 | 499328 |
| &nbsp;&nbsp; <sup>a</sup> Copart Inc. | Commercial Services & Supplies | 7602 | 462886 |
| &nbsp;&nbsp;&nbsp; Corebridge Financial Inc. | Diversified Financial Services | 1448 | 29047 |
| &nbsp;&nbsp;&nbsp; Corning Inc. | Electronic Equipment, Instruments & Components | 13573 | 433522 |
| &nbsp;&nbsp;&nbsp; Corteva Inc. | Chemicals | 12849 | 755264 |
| &nbsp;&nbsp; <sup>a</sup> CoStar Group Inc. | Professional Services | 7240 | 559507 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | Food & Staples Retailing | 7964 | 3635566 |
| &nbsp;&nbsp;&nbsp; Coterra Energy Inc., A | Oil, Gas & Consumable Fuels | 13756 | 337985 |
| &nbsp;&nbsp; <sup>a</sup> Coupang Inc. | Internet & Catalog Retail | 18462 | 271576 |
| &nbsp;&nbsp; <sup>a</sup> Crowdstrike Holdings Inc., A | Software | 3982 | 419265 |
| &nbsp;&nbsp;&nbsp; Crown Castle Inc. | Equity Real Estate Investment Trusts (REITs) | 7781 | 1055415 |
| &nbsp;&nbsp;&nbsp; Crown Holdings Inc. | Containers & Packaging | 2172 | 178560 |
| &nbsp;&nbsp;&nbsp; CSX Corp. | Road & Rail | 37648 | 1166335 |
| &nbsp;&nbsp;&nbsp; Cummins Inc. | Machinery | 2534 | 613963 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | Health Care Providers & Services | 23530 | 2192761 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Danaher Corp. | Life Sciences Tools & Services | 11763 | 3122135 |
| Darden Restaurants Inc. | Hotels, Restaurants & Leisure | 2172 | 300453 |
| <sup>a</sup> Datadog Inc., A | Software | 4523 | 332441 |
| <sup>a</sup> DaVita Inc. | Health Care Providers & Services | 1086 | 81092 |
| Deere & Co. | Machinery | 5068 | 2172956 |
| Dell Technologies Inc., C | Technology Hardware, Storage & Peripherals | 4706 | 189275 |
| <sup>a</sup> Delta Air Lines Inc. | Airlines | 11584 | 380650 |
| DENTSPLY SIRONA Inc. | Health Care Equipment & Supplies | 3620 | 115261 |
| Devon Energy Corp. | Oil, Gas & Consumable Fuels | 11584 | 712532 |
| <sup>a</sup> Dexcom Inc. | Health Care Equipment & Supplies | 7057 | 799135 |
| Diamondback Energy Inc. | Oil, Gas & Consumable Fuels | 3258 | 445629 |
| Digital Realty Trust Inc. | Equity Real Estate Investment Trusts (REITs) | 5068 | 508168 |
| Discover Financial Services | Consumer Finance | 4885 | 477900 |
| <sup>a</sup> DocuSign Inc. | Software | 3437 | 190479 |
| Dollar General Corp. | Multiline Retail | 3982 | 980567 |
| <sup>a</sup> Dollar Tree Inc. | Multiline Retail | 3799 | 537331 |
| Dominion Energy Inc. | Multi-Utilities | 14842 | 910111 |
| Domino's Pizza Inc. | Hotels, Restaurants & Leisure | 724 | 250794 |
| <sup>a</sup> DoorDash Inc., A | Internet & Direct Marketing Retail | 4706 | 229747 |
| Dover Corp. | Machinery | 2534 | 343129 |
| Dow Inc. | Chemicals | 12849 | 647461 |
| DR Horton Inc. | Household Durables | 5430 | 484030 |
| DTE Energy Co. | Multi-Utilities | 3437 | 403951 |
| Duke Energy Corp. | Electric Utilities | 13756 | 1416730 |
| DuPont de Nemours Inc. | Chemicals | 8688 | 596257 |
| <sup>a</sup> DXC Technology Co. | IT Services | 4523 | 119860 |
| <sup>a</sup> Dynatrace Inc. | Software | 3620 | 138646 |
| East West Bancorp Inc. | Banks | 2534 | 166991 |
| Eastman Chemical Co. | Chemicals | 2172 | 176888 |
| Eaton Corp. PLC | Electrical Equipment | 7240 | 1136318 |
| eBay Inc. | Internet & Direct Marketing Retail | 9774 | 405328 |
| Ecolab Inc. | Chemicals | 4344 | 632313 |
| Edison International | Electric Utilities | 6878 | 437578 |
| <sup>a</sup> Edwards Lifesciences Corp. | Health Care Equipment & Supplies | 11222 | 837273 |
| <sup>a</sup> Elanco Animal Health Inc. | Pharmaceuticals | 8326 | 101744 |
| Electronic Arts Inc. | Entertainment | 4706 | 574979 |
| Elevance Health Inc. | Health Care Providers & Services | 4344 | 2228342 |
| Eli Lilly & Co. | Pharmaceuticals | 14118 | 5164929 |
| Emerson Electric Co. | Electrical Equipment | 10498 | 1008438 |
| <sup>a</sup> Enphase Energy Inc. | Semiconductors & Semiconductor Equipment | 2534 | 671409 |
| Entegris Inc. | Semiconductors & Semiconductor Equipment | 2713 | 177946 |
| Entergy Corp. | Electric Utilities | 3620 | 407250 |
| EOG Resources Inc. | Oil, Gas & Consumable Fuels | 10498 | 1359701 |
| <sup>a</sup> EPAM Systems Inc. | IT Services | 1086 | 355926 |
| EQT Corp. | Oil, Gas & Consumable Fuels | 6516 | 220436 |
| Equifax Inc. | Professional Services | 2172 | 422150 |
| Equinix Inc. | Equity Real Estate Investment Trusts (REITs) | 1662 | 1088660 |
| Equitable Holdings Inc. | Diversified Financial Services | 6333 | 181757 |
| Equity LifeStyle Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 3075 | 198645 |
| Equity Residential | Equity Real Estate Investment Trusts (REITs) | 6154 | 363086 |
| Essex Property Trust Inc. | Equity Real Estate Investment Trusts (REITs) | 1086 | 230145 |
| <sup>a</sup> Etsy Inc. | Internet & Direct Marketing Retail | 2172 | 260162 |
| Everest Re Group Ltd. | Insurance | 724 | 239839 |
| Evergy Inc. | Electric Utilities | 3982 | 250587 |
| Eversource Energy | Electric Utilities | 6154 | 515951 |
| <sup>a</sup> Exact Sciences Corp. | Biotechnology | 3258 | 161304 |
| Exelon Corp. | Electric Utilities | 17917 | 774552 |
| <sup>a</sup> Expedia Group Inc. | Internet & Direct Marketing Retail | 2713 | 237659 |
| Expeditors International of Washington Inc. | Air Freight & Logistics | 2896 | 300952 |
| Extra Space Storage Inc. | Equity Real Estate Investment Trusts (REITs) | 2351 | 346020 |
| Exxon Mobil Corp. | Oil, Gas & Consumable Fuels | 73848 | 8145434 |
| <sup>a</sup> F5 Inc. | Communications Equipment | 1086 | 155852 |
| FactSet Research Systems Inc. | Capital Markets | 724 | 290476 |
| Fastenal Co. | Trading Companies & Distributors | 10315 | 488106 |
| Federal Realty Investment Trust | Equity Real Estate Investment Trusts (REITs) | 1265 | 127816 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | Air Freight & Logistics | 4344 | 752381 |
| &nbsp;&nbsp;&nbsp; Fidelity National Financial Inc. | Insurance | 4885 | 183774 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services Inc. | IT Services | 10498 | 712289 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | Banks | 12308 | 403825 |
| &nbsp;&nbsp;&nbsp; First Republic Bank | Banks | 3258 | 397118 |
| &nbsp;&nbsp; <sup>a</sup> First Solar Inc. | Semiconductors & Semiconductor Equipment | 1810 | 271120 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | Electric Utilities | 9774 | 409922 |
| &nbsp;&nbsp; <sup>a</sup> Fiserv Inc. | IT Services | 11401 | 1152299 |
| &nbsp;&nbsp; <sup>a</sup> FleetCor Technologies Inc. | IT Services | 1448 | 265969 |
| &nbsp;&nbsp; <sup>a</sup> Flex Ltd. | Electronic Equipment, Instruments & Components | 7964 | 170907 |
| &nbsp;&nbsp;&nbsp; FMC Corp. | Chemicals | 2172 | 271066 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | Automobiles | 70952 | 825172 |
| &nbsp;&nbsp; <sup>a</sup> Fortinet Inc. | Software | 11763 | 575093 |
| &nbsp;&nbsp;&nbsp; Fortive Corp. | Machinery | 6333 | 406895 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations Inc. | Building Products | 2351 | 134266 |
| &nbsp;&nbsp;&nbsp; Fox Corp., A | Media | 5430 | 164909 |
| &nbsp;&nbsp;&nbsp; Fox Corp., B | Media | 2713 | 77185 |
| &nbsp;&nbsp;&nbsp; Franklin Resources Inc. | Capital Markets | 4885 | 128866 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc. | Metals & Mining | 25702 | 976676 |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | Household Durables | 2713 | 250383 |
| &nbsp;&nbsp; <sup>a</sup> Gartner Inc. | IT Services | 1448 | 486731 |
| &nbsp;&nbsp;&nbsp; Gen Digital Inc. | Software | 10136 | 217214 |
| &nbsp;&nbsp; <sup>a</sup> Generac Holdings Inc. | Electrical Equipment | 1086 | 109317 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | Aerospace & Defense | 3982 | 987974 |
| &nbsp;&nbsp;&nbsp; General Electric Co. | Industrial Conglomerates | 19548 | 1637927 |
| &nbsp;&nbsp;&nbsp; General Mills Inc. | Food Products | 10677 | 895266 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | Automobiles | 25340 | 852438 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | Distributors | 2534 | 439674 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences Inc. | Biotechnology | 22444 | 1926817 |
| &nbsp;&nbsp;&nbsp; Global Payments Inc. | IT Services | 4885 | 485178 |
| &nbsp;&nbsp;&nbsp; Globe Life Inc. | Insurance | 1627 | 196135 |
| &nbsp;&nbsp; <sup>a</sup> GoDaddy Inc., A | IT Services | 2713 | 202987 |
| &nbsp;&nbsp;&nbsp; Halliburton Co. | Energy Equipment & Services | 16290 | 641011 |
| &nbsp;&nbsp;&nbsp; Hartford Financial Services Group Inc. | Insurance | 5792 | 439207 |
| &nbsp;&nbsp;&nbsp; Hasbro Inc. | Leisure Products | 2351 | 143435 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare Inc. | Health Care Providers & Services | 3799 | 911608 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 9412 | 235959 |
| &nbsp;&nbsp;&nbsp; HEICO Corp. | Aerospace & Defense | 724 | 111235 |
| &nbsp;&nbsp;&nbsp; HEICO Corp., A | Aerospace & Defense | 1265 | 151610 |
| &nbsp;&nbsp; <sup>a</sup> Henry Schein Inc. | Health Care Providers & Services | 2351 | 187774 |
| &nbsp;&nbsp;&nbsp; Hess Corp. | Oil, Gas & Consumable Fuels | 5068 | 718744 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | Technology Hardware, Storage & Peripherals | 22985 | 366841 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings Inc. | Hotels, Restaurants & Leisure | 4885 | 617269 |
| &nbsp;&nbsp; <sup>a</sup> Hologic Inc. | Health Care Equipment & Supplies | 4344 | 324975 |
| &nbsp;&nbsp;&nbsp; Honeywell International Inc. | Industrial Conglomerates | 11946 | 2560028 |
| &nbsp;&nbsp; <sup>a</sup> Horizon Therapeutics PLC | Biotechnology | 3982 | 453152 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | Food Products | 5430 | 247337 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts Inc. | Equity Real Estate Investment Trusts (REITs) | 12670 | 203354 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace Inc. | Aerospace & Defense | 6516 | 256796 |
| &nbsp;&nbsp;&nbsp; HP Inc. | Technology Hardware, Storage & Peripherals | 16290 | 437712 |
| &nbsp;&nbsp;&nbsp; Hubbell Inc., B | Electrical Equipment | 903 | 211916 |
| &nbsp;&nbsp; <sup>a</sup> HubSpot Inc. | Software | 903 | 261084 |
| &nbsp;&nbsp;&nbsp; Humana Inc. | Health Care Providers & Services | 2172 | 1112477 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares Inc. | Banks | 25519 | 359818 |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries Inc. | Aerospace & Defense | 724 | 167012 |
| &nbsp;&nbsp;&nbsp; IDEX Corp. | Machinery | 1448 | 330622 |
| &nbsp;&nbsp; <sup>a</sup> IDEXX Laboratories Inc. | Health Care Equipment & Supplies | 1448 | 590726 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works Inc. | Machinery | 5068 | 1116480 |
| &nbsp;&nbsp; <sup>a</sup> Illumina Inc. | Life Sciences Tools & Services | 2896 | 585571 |
| &nbsp;&nbsp; <sup>a</sup> Incyte Corp. | Biotechnology | 3258 | 261683 |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand Inc. | Machinery | 7240 | 378290 |
| &nbsp;&nbsp; <sup>a</sup> Insulet Corp. | Health Care Equipment & Supplies | 1265 | 372403 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | Semiconductors & Semiconductor Equipment | 73848 | 1951803 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange Inc. | Capital Markets | 9774 | 1002715 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | IT Services | 16107 | 2269315 |

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| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances Inc. | Chemicals | 4523 | 474191 |
| &nbsp;&nbsp;&nbsp; International Paper Co. | Containers & Packaging | 6516 | 225649 |
| &nbsp;&nbsp;&nbsp; Intuit Inc. | Software | 5068 | 1972567 |
| <sup>a</sup> Intuitive Surgical Inc. | Health Care Equipment & Supplies | 6154 | 1632964 |
| &nbsp;&nbsp;&nbsp; Invesco Ltd. | Capital Markets | 8143 | 146493 |
| &nbsp;&nbsp;&nbsp; Invitation Homes Inc. | Equity Real Estate Investment Trusts (REITs) | 10498 | 311161 |
| <sup>a</sup> IQVIA Holdings Inc. | Life Sciences Tools & Services | 3258 | 667532 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Inc. | Equity Real Estate Investment Trusts (REITs) | 5068 | 252640 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates Inc. | IT Services | 1265 | 222083 |
| &nbsp;&nbsp;&nbsp; Jacobs Solutions Inc. | Professional Services | 2172 | 260792 |
| <sup>a</sup> Jazz Pharmaceuticals PLC | Pharmaceuticals | 1086 | 173011 |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services Inc. | Road & Rail | 1448 | 252473 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group Inc. | Capital Markets | 3258 | 111684 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | Pharmaceuticals | 46698 | 8249202 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | Building Products | 12308 | 787712 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | Banks | 52490 | 7038909 |
| &nbsp;&nbsp;&nbsp; Juniper Networks Inc. | Communications Equipment | 6154 | 196682 |
| &nbsp;&nbsp;&nbsp; Kellogg Co. | Food Products | 4523 | 322219 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper Inc. | Beverages | 15204 | 542175 |
| &nbsp;&nbsp;&nbsp; KeyCorp | Banks | 16469 | 286890 |
| <sup>a</sup> Keysight Technologies Inc. | Electronic Equipment, Instruments & Components | 3258 | 557346 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | Household Products | 6154 | 835405 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | Equity Real Estate Investment Trusts (REITs) | 11039 | 233806 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc. | Oil, Gas & Consumable Fuels | 35655 | 644642 |
| &nbsp;&nbsp;&nbsp; KKR & Co. Inc. | Capital Markets | 10498 | 487317 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | Semiconductors & Semiconductor Equipment | 2534 | 955394 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies Inc. | Aerospace & Defense | 3437 | 715618 |
| &nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings | Health Care Providers & Services | 1627 | 383126 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | Semiconductors & Semiconductor Equipment | 2534 | 1065040 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings Inc. | Food Products | 2534 | 226438 |
| <sup>a</sup> Las Vegas Sands Corp. | Hotels, Restaurants & Leisure | 5971 | 287026 |
| &nbsp;&nbsp;&nbsp; Lear Corp. | Auto Components | 1086 | 134686 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings Inc. | Professional Services | 2534 | 266551 |
| &nbsp;&nbsp;&nbsp; Lennar Corp., A | Household Durables | 4523 | 409332 |
| &nbsp;&nbsp;&nbsp; Lennar Corp., B | Household Durables | 179 | 13386 |
| &nbsp;&nbsp;&nbsp; Lennox International Inc. | Building Products | 541 | 129423 |
| <sup>a</sup> Liberty Broadband Corp. | Media | 2172 | 165658 |
| <sup>a</sup> Liberty Broadband Corp., A | Media | 362 | 27458 |
| <sup>a</sup> Liberty Media Corp.-Liberty SiriusXM, C | Media | 1265 | 49727 |
| <sup>a</sup> Liberty Media Corp.-Liberty SiriusXM, C | Media | 2713 | 106160 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | Insurance | 2713 | 83343 |
| <sup>a</sup> Live Nation Entertainment Inc. | Entertainment | 2534 | 176721 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | Distributors | 4523 | 241573 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | Aerospace & Defense | 4161 | 2024285 |
| &nbsp;&nbsp;&nbsp; Loews Corp. | Insurance | 3799 | 221596 |
| &nbsp;&nbsp;&nbsp; Lowe's Companies Inc. | Specialty Retail | 11222 | 2235871 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings Inc. | Capital Markets | 1448 | 313014 |
| <sup>a,c</sup> Lucid Group Inc. | Automobiles | 9953 | 67979 |
| <sup>a</sup> Lululemon Athletica Inc. | Textiles, Apparel & Luxury Goods | 2172 | 695865 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies Inc. | Diversified Telecommunication Services | 16469 | 85968 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, A | Chemicals | 4523 | 375545 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. | Banks | 3075 | 446060 |
| &nbsp;&nbsp;&nbsp; Marathon Oil Corp. | Oil, Gas & Consumable Fuels | 11222 | 303780 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | Oil, Gas & Consumable Fuels | 8326 | 969063 |
| <sup>a</sup> Markel Corp. | Insurance | 243 | 320150 |
| &nbsp;&nbsp;&nbsp; MarketAxess Holdings Inc. | Capital Markets | 724 | 201916 |
| &nbsp;&nbsp;&nbsp; Marriott International Inc., A | Hotels, Restaurants & Leisure | 4706 | 700676 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Companies Inc. | Insurance | 8867 | 1467311 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials Inc. | Construction Materials | 1086 | 367035 |
| &nbsp;&nbsp;&nbsp; Marvell Technology Inc. | Semiconductors & Semiconductor Equipment | 15021 | 556378 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | Building Products | 3982 | 185840 |
| &nbsp;&nbsp;&nbsp; Mastercard Inc., A | IT Services | 15204 | 5286887 |
| <sup>a</sup> Match Group Inc. | Interactive Media & Services | 5068 | 210271 |
| &nbsp;&nbsp;&nbsp; McCormick & Co. Inc. | Food Products | 4523 | 374911 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | Hotels, Restaurants & Leisure | 13032 | 3434323 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | Health Care Providers & Services | 2534 | 950554 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | Health Care Equipment & Supplies | 23709 | 1842663 |
| &nbsp;&nbsp;&nbsp; Merck & Co. Inc. | Pharmaceuticals | 45250 | 5020487 |
| &nbsp;&nbsp; <sup>a</sup> Meta Platforms Inc., A | Interactive Media & Services | 40182 | 4835502 |
| &nbsp;&nbsp;&nbsp; MetLife Inc. | Insurance | 11946 | 864532 |
| &nbsp;&nbsp; <sup>a</sup> Mettler-Toledo International Inc. | Life Sciences Tools & Services | 411 | 594080 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International | Hotels, Restaurants & Leisure | 5792 | 194206 |
| &nbsp;&nbsp;&nbsp; Microchip Technology Inc. | Semiconductors & Semiconductor Equipment | 9774 | 686623 |
| &nbsp;&nbsp;&nbsp; Micron Technology Inc. | Semiconductors & Semiconductor Equipment | 19727 | 985955 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | Software | 133216 | 31947861 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities Inc. | Equity Real Estate Investment Trusts (REITs) | 2172 | 340982 |
| &nbsp;&nbsp; <sup>a</sup> Moderna Inc. | Biotechnology | 5792 | 1040359 |
| &nbsp;&nbsp; <sup>a</sup> Molina Healthcare Inc. | Health Care Providers & Services | 1086 | 358619 |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co., B | Beverages | 3258 | 167852 |
| &nbsp;&nbsp;&nbsp; Mondelez International Inc., A | Food Products | 24254 | 1616529 |
| &nbsp;&nbsp; <sup>a</sup> MongoDB Inc. | IT Services | 1265 | 249003 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems Inc. | Semiconductors & Semiconductor Equipment | 724 | 256014 |
| &nbsp;&nbsp; <sup>a</sup> Monster Beverage Corp. | Beverages | 6878 | 698323 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | Capital Markets | 2896 | 806884 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | Capital Markets | 23530 | 2000521 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions Inc. | Communications Equipment | 2896 | 746328 |
| &nbsp;&nbsp;&nbsp; MSCI Inc. | Capital Markets | 1448 | 673566 |
| &nbsp;&nbsp;&nbsp; Nasdaq Inc. | Capital Markets | 5971 | 366321 |
| &nbsp;&nbsp;&nbsp; NetApp Inc. | Technology Hardware, Storage & Peripherals | 3799 | 228168 |
| &nbsp;&nbsp; <sup>a</sup> Netflix Inc. | Entertainment | 7964 | 2348424 |
| &nbsp;&nbsp; <sup>a</sup> Neurocrine Biosciences Inc. | Biotechnology | 1810 | 216186 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | Metals & Mining | 13935 | 657732 |
| &nbsp;&nbsp;&nbsp; News Corp., A | Media | 6695 | 121849 |
| &nbsp;&nbsp;&nbsp; News Corp., B | Media | 1989 | 36677 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Inc. | Electric Utilities | 35476 | 2965794 |
| &nbsp;&nbsp;&nbsp; NIKE Inc., B | Textiles, Apparel & Luxury Goods | 22444 | 2626172 |
| &nbsp;&nbsp;&nbsp; NiSource Inc. | Multi-Utilities | 7240 | 198521 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | Road & Rail | 4161 | 1025354 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | Capital Markets | 3620 | 320334 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | Aerospace & Defense | 2534 | 1382576 |
| &nbsp;&nbsp; <sup>a</sup> Novocure Ltd. | Health Care Equipment & Supplies | 1810 | 132764 |
| &nbsp;&nbsp;&nbsp; NRG Energy Inc. | Electric Utilities | 4344 | 138226 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | Metals & Mining | 4706 | 620298 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | Semiconductors & Semiconductor Equipment | 44526 | 6507030 |
| &nbsp;&nbsp; <sup>a</sup> NVR Inc. | Household Durables | 55 | 253692 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | Oil, Gas & Consumable Fuels | 13032 | 820886 |
| &nbsp;&nbsp; <sup>a</sup> Okta Inc. | IT Services | 2713 | 185379 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line Inc. | Road & Rail | 1627 | 461710 |
| &nbsp;&nbsp;&nbsp; Omnicom Group Inc. | Media | 3620 | 295283 |
| &nbsp;&nbsp; <sup>a</sup> ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | 7602 | 474137 |
| &nbsp;&nbsp;&nbsp; ONEOK Inc. | Oil, Gas & Consumable Fuels | 7964 | 523235 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | Software | 27512 | 2248831 |
| &nbsp;&nbsp; <sup>a</sup> O'Reilly Automotive Inc. | Specialty Retail | 1121 | 946158 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | Machinery | 7419 | 580982 |
| &nbsp;&nbsp;&nbsp; Owens Corning | Building Products | 1448 | 123514 |
| &nbsp;&nbsp;&nbsp; PACCAR Inc. | Machinery | 6154 | 609061 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | Containers & Packaging | 1627 | 208110 |
| &nbsp;&nbsp; <sup>a</sup> Palantir Technologies Inc., A | Software | 32035 | 205665 |
| &nbsp;&nbsp; <sup>a</sup> Palo Alto Networks Inc. | Software | 5430 | 757702 |
| &nbsp;&nbsp;&nbsp; Paramount Global, B | Media | 9050 | 152764 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | Machinery | 2351 | 684141 |
| &nbsp;&nbsp;&nbsp; Paychex Inc. | IT Services | 5792 | 669324 |
| &nbsp;&nbsp; <sup>a</sup> Paycom Software Inc. | Software | 903 | 280210 |
| &nbsp;&nbsp; <sup>a</sup> Paylocity Holding Corp. | Software | 724 | 140644 |
| &nbsp;&nbsp; <sup>a</sup> PayPal Holdings Inc. | IT Services | 20272 | 1443772 |
| &nbsp;&nbsp;&nbsp; Pentair PLC | Machinery | 3075 | 138314 |
| &nbsp;&nbsp;&nbsp; PepsiCo Inc. | Beverages | 24616 | 4447127 |
| &nbsp;&nbsp;&nbsp; PerkinElmer Inc. | Life Sciences Tools & Services | 2172 | 304558 |
| &nbsp;&nbsp;&nbsp; Pfizer Inc. | Pharmaceuticals | 100274 | 5138040 |
| &nbsp;&nbsp; <sup>a</sup> PG&E Corp. | Electric Utilities | 28777 | 467914 |

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| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc. | Tobacco | 27874 | 2821128 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | Oil, Gas & Consumable Fuels | 8326 | 866570 |
| &nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | Electric Utilities | 1989 | 151244 |
| <sup>a</sup> Pinterest Inc., A | Interactive Media & Services | 10136 | 246102 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. | Oil, Gas & Consumable Fuels | 4344 | 992126 |
| <sup>a,c</sup> Plug Power Inc. | Electrical Equipment | 9229 | 114163 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group Inc. | Banks | 7240 | 1143486 |
| &nbsp;&nbsp;&nbsp; Pool Corp. | Distributors | 724 | 218887 |
| &nbsp;&nbsp;&nbsp; PPG Industries Inc. | Chemicals | 4161 | 523204 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | Electric Utilities | 13032 | 380795 |
| &nbsp;&nbsp;&nbsp; Principal Financial Group Inc. | Insurance | 4161 | 349191 |
| &nbsp;&nbsp;&nbsp; Prologis Inc. | Equity Real Estate Investment Trusts (REITs) | 16649 | 1876842 |
| &nbsp;&nbsp;&nbsp; Prudential Financial Inc. | Insurance | 6516 | 648081 |
| <sup>a</sup> PTC Inc. | Software | 1810 | 217272 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group Inc. | Multi-Utilities | 9050 | 554494 |
| &nbsp;&nbsp;&nbsp; Public Storage | Equity Real Estate Investment Trusts (REITs) | 2896 | 811430 |
| &nbsp;&nbsp;&nbsp; PulteGroup Inc. | Household Durables | 3982 | 181300 |
| <sup>a</sup> Qorvo Inc. | Semiconductors & Semiconductor Equipment | 1810 | 164058 |
| &nbsp;&nbsp;&nbsp; QUALCOMM Inc. | Semiconductors & Semiconductor Equipment | 19910 | 2188905 |
| &nbsp;&nbsp;&nbsp; Quanta Services Inc. | Construction & Engineering | 2534 | 361095 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics Inc. | Health Care Providers & Services | 1989 | 311159 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial Inc. | Capital Markets | 3437 | 367243 |
| &nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | Aerospace & Defense | 26426 | 2666912 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | Equity Real Estate Investment Trusts (REITs) | 11222 | 711811 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | Equity Real Estate Investment Trusts (REITs) | 2713 | 169563 |
| <sup>a</sup> Regeneron Pharmaceuticals Inc. | Biotechnology | 1928 | 1391033 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | Banks | 16469 | 355072 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc. | Insurance | 1086 | 154310 |
| &nbsp;&nbsp;&nbsp; Republic Services Inc. | Commercial Services & Supplies | 3620 | 466944 |
| &nbsp;&nbsp;&nbsp; ResMed Inc. | Health Care Equipment & Supplies | 2534 | 527401 |
| <sup>a</sup> Rivian Automotive Inc., A | Automobiles | 9774 | 180135 |
| <sup>a</sup> ROBLOX Corp., A | Entertainment | 6154 | 175143 |
| &nbsp;&nbsp;&nbsp; Rockwell Automation Inc. | Electrical Equipment | 2172 | 559442 |
| <sup>a</sup> Roku Inc. | Entertainment | 2172 | 88400 |
| &nbsp;&nbsp;&nbsp; Rollins Inc. | Commercial Services & Supplies | 3982 | 145502 |
| &nbsp;&nbsp;&nbsp; Roper Technologies Inc. | Industrial Conglomerates | 1810 | 782083 |
| &nbsp;&nbsp;&nbsp; Ross Stores Inc. | Specialty Retail | 6154 | 714295 |
| <sup>a</sup> Royal Caribbean Cruises Ltd. | Hotels, Restaurants & Leisure | 3799 | 187785 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC | Pharmaceuticals | 6878 | 271819 |
| &nbsp;&nbsp;&nbsp; S&P Global Inc. | Capital Markets | 5792 | 1939972 |
| <sup>a</sup> Salesforce Inc. | Software | 17738 | 2351881 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. | Equity Real Estate Investment Trusts (REITs) | 1989 | 557537 |
| &nbsp;&nbsp;&nbsp; Schlumberger Ltd. | Energy Equipment & Services | 25157 | 1344893 |
| <sup>a</sup> Seagen Inc. | Biotechnology | 2534 | 325644 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp. | Containers & Packaging | 2713 | 135324 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | Capital Markets | 1810 | 105523 |
| &nbsp;&nbsp;&nbsp; Sempra Energy | Multi-Utilities | 5609 | 866815 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | Electrical Equipment | 2896 | 116940 |
| <sup>a</sup> ServiceNow Inc. | Software | 3620 | 1405537 |
| &nbsp;&nbsp;&nbsp; Signature Bank | Banks | 1086 | 125129 |
| &nbsp;&nbsp;&nbsp; Simon Property Group Inc. | Real Estate Investment Trusts (REITs) | 5792 | 680444 |
| &nbsp;&nbsp; <sup>c</sup> Sirius XM Holdings Inc. | Media | 14118 | 82449 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions Inc. | Semiconductors & Semiconductor Equipment | 2896 | 263912 |
| <sup>a</sup> Snap Inc., A | Interactive Media & Services | 18100 | 161995 |
| &nbsp;&nbsp;&nbsp; Snap-on Inc. | Machinery | 903 | 206326 |
| <sup>a</sup> Snowflake Inc., A | IT Services | 5068 | 727461 |
| <sup>a</sup> SolarEdge Technologies Inc. | Semiconductors & Semiconductor Equipment | 1086 | 307631 |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp. | Metals & Mining | 1448 | 87445 |
| <sup>a</sup> Southwest Airlines Co. | Airlines | 10315 | 347306 |
| <sup>a</sup> Splunk Inc. | Software | 2534 | 218152 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings Inc. | IT Services | 3799 | 197776 |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker Inc. | Machinery | 2713 | 203801 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | Hotels, Restaurants & Leisure | 20634 | 2046893 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | Capital Markets | 6516 | 505446 |
| &nbsp;&nbsp;&nbsp; Steel Dynamics Inc. | Metals & Mining | 2896 | 282939 |

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| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; STERIS PLC | Health Care Equipment & Supplies | 1810 | 334289 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | Health Care Equipment & Supplies | 6154 | 1504591 |
| &nbsp;&nbsp;&nbsp; Sun Communities Inc. | Equity Real Estate Investment Trusts (REITs) | 2172 | 310596 |
| &nbsp;&nbsp; <sup>a</sup> SVB Financial Group | Banks | 1086 | 249932 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | Consumer Finance | 7964 | 261697 |
| &nbsp;&nbsp; <sup>a</sup> Synopsys Inc. | Software | 2713 | 866234 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | Food & Staples Retailing | 9050 | 691872 |
| &nbsp;&nbsp;&nbsp; T Rowe Price Group Inc. | Capital Markets | 3982 | 434277 |
| &nbsp;&nbsp; <sup>a</sup> Take-Two Interactive Software Inc. | Entertainment | 2896 | 301560 |
| &nbsp;&nbsp;&nbsp; Tapestry Inc. | Textiles, Apparel & Luxury Goods | 3982 | 151635 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | Oil, Gas & Consumable Fuels | 3982 | 292677 |
| &nbsp;&nbsp;&nbsp; Target Corp. | Multiline Retail | 8326 | 1240907 |
| &nbsp;&nbsp; <sup>a</sup> Teledyne Technologies Inc. | Electronic Equipment, Instruments & Components | 903 | 361119 |
| &nbsp;&nbsp;&nbsp; Teleflex Inc. | Health Care Equipment & Supplies | 903 | 225416 |
| &nbsp;&nbsp;&nbsp; Teradyne Inc. | Semiconductors & Semiconductor Equipment | 2713 | 236981 |
| &nbsp;&nbsp; <sup>a</sup> Tesla Inc. | Automobiles | 48068 | 5921016 |
| &nbsp;&nbsp;&nbsp; Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | 16290 | 2691434 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | Oil, Gas & Consumable Fuels | 109 | 255521 |
| &nbsp;&nbsp;&nbsp; Textron Inc. | Aerospace & Defense | 3799 | 268969 |
| &nbsp;&nbsp;&nbsp; The AES Corp. | Independent Power Producers & Energy Traders | 11763 | 338304 |
| &nbsp;&nbsp;&nbsp; The Allstate Corp. | Insurance | 4706 | 638134 |
| &nbsp;&nbsp;&nbsp; The Bank of New York Mellon Corp. | Capital Markets | 13032 | 593217 |
| &nbsp;&nbsp; <sup>a</sup> The Boeing Co. | Aerospace & Defense | 10136 | 1930807 |
| &nbsp;&nbsp;&nbsp; The Carlyle Group Inc. | Capital Markets | 3799 | 113362 |
| &nbsp;&nbsp;&nbsp; The Charles Schwab Corp. | Capital Markets | 27150 | 2260509 |
| &nbsp;&nbsp;&nbsp; The Clorox Co. | Household Products | 2172 | 304797 |
| &nbsp;&nbsp;&nbsp; The Coca-Cola Co. | Beverages | 69504 | 4421149 |
| &nbsp;&nbsp;&nbsp; The Cooper Companies Inc. | Health Care Equipment & Supplies | 903 | 298595 |
| &nbsp;&nbsp;&nbsp; The Estee Lauder Companies Inc., A | Personal Products | 4161 | 1032386 |
| &nbsp;&nbsp;&nbsp; The Goldman Sachs Group Inc. | Capital Markets | 6154 | 2113161 |
| &nbsp;&nbsp;&nbsp; The Hershey Co. | Food Products | 2534 | 586798 |
| &nbsp;&nbsp;&nbsp; The Home Depot Inc. | Specialty Retail | 18462 | 5831407 |
| &nbsp;&nbsp;&nbsp; The Interpublic Group of Companies Inc. | Media | 6878 | 229106 |
| &nbsp;&nbsp;&nbsp; The J M Smucker Co. | Food Products | 1810 | 286813 |
| &nbsp;&nbsp;&nbsp; The Kraft Heinz Co. | Food Products | 14118 | 574744 |
| &nbsp;&nbsp;&nbsp; The Kroger Co. | Food & Staples Retailing | 11763 | 524395 |
| &nbsp;&nbsp;&nbsp; The Mosaic Co. | Chemicals | 6333 | 277829 |
| &nbsp;&nbsp;&nbsp; The Procter & Gamble Co. | Household Products | 42354 | 6419172 |
| &nbsp;&nbsp;&nbsp; The Progressive Corp. | Insurance | 10498 | 1361696 |
| &nbsp;&nbsp;&nbsp; The Sherwin-Williams Co. | Chemicals | 4344 | 1030962 |
| &nbsp;&nbsp;&nbsp; The Southern Co. | Electric Utilities | 19548 | 1395923 |
| &nbsp;&nbsp;&nbsp; The TJX Companies Inc. | Specialty Retail | 20813 | 1656715 |
| &nbsp;&nbsp; <sup>a</sup> The Trade Desk Inc., A | Software | 7781 | 348822 |
| &nbsp;&nbsp;&nbsp; The Travelers Companies Inc. | Insurance | 4161 | 780146 |
| &nbsp;&nbsp; <sup>a</sup> The Walt Disney Co. | Media | 32580 | 2830550 |
| &nbsp;&nbsp;&nbsp; The Williams Companies Inc. | Oil, Gas & Consumable Fuels | 21720 | 714588 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc. | Life Sciences Tools & Services | 7049 | 3881814 |
| &nbsp;&nbsp; <sup>a</sup> T-Mobile US Inc. | Wireless Telecommunication Services | 10498 | 1469720 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | Specialty Retail | 1989 | 447465 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | Building Products | 4161 | 699422 |
| &nbsp;&nbsp;&nbsp; TransDigm Group Inc. | Aerospace & Defense | 927 | 583686 |
| &nbsp;&nbsp;&nbsp; TransUnion | Professional Services | 3437 | 195050 |
| &nbsp;&nbsp; <sup>a</sup> Trimble Inc. | Electronic Equipment, Instruments & Components | 4344 | 219633 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | Banks | 23892 | 1028073 |
| &nbsp;&nbsp; <sup>a</sup> Twilio Inc., A | IT Services | 3258 | 159512 |
| &nbsp;&nbsp; <sup>a</sup> Tyler Technologies Inc. | Software | 724 | 233425 |
| &nbsp;&nbsp;&nbsp; Tyson Foods Inc., A | Food Products | 5068 | 315483 |
| &nbsp;&nbsp; <sup>a</sup> Uber Technologies Inc. | Road & Rail | 35838 | 886274 |
| &nbsp;&nbsp;&nbsp; UDR Inc. | Equity Real Estate Investment Trusts (REITs) | 5430 | 210304 |
| &nbsp;&nbsp;&nbsp; UGI Corp. | Gas Utilities | 3620 | 134193 |
| &nbsp;&nbsp; <sup>a</sup> Ulta Beauty Inc. | Specialty Retail | 903 | 423570 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | Road & Rail | 10860 | 2248780 |
| &nbsp;&nbsp; <sup>a</sup> United Airlines Holdings Inc. | Airlines | 5609 | 211459 |
| &nbsp;&nbsp;&nbsp; United Parcel Service Inc., B | Air Freight & Logistics | 13032 | 2265483 |
| &nbsp;&nbsp; <sup>a</sup> United Rentals Inc. | Trading Companies & Distributors | 1265 | 449606 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | Health Care Providers & Services | 16652 | 8828557 |
| <sup>a,c</sup> Unity Software Inc. | Software | 4344 | 124195 |
| &nbsp;&nbsp;&nbsp;Universal Health Services Inc., B | Health Care Providers & Services | 1086 | 153007 |
| &nbsp;&nbsp;&nbsp;US Bancorp | Banks | 24254 | 1057717 |
| &nbsp;&nbsp;&nbsp;Vail Resorts Inc. | Hotels, Restaurants & Leisure | 724 | 172565 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | Oil, Gas & Consumable Fuels | 6878 | 872543 |
| <sup>a</sup> Veeva Systems Inc., A | Health Care Technology | 2534 | 408937 |
| &nbsp;&nbsp;&nbsp;Ventas Inc. | Equity Real Estate Investment Trusts (REITs) | 7240 | 326162 |
| <sup>a</sup> VeriSign Inc. | IT Services | 1627 | 334251 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | Professional Services | 2896 | 510912 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | Diversified Telecommunication Services | 75296 | 2966662 |
| <sup>a</sup> Vertex Pharmaceuticals Inc. | Biotechnology | 4706 | 1358999 |
| &nbsp;&nbsp;&nbsp;VF Corp. | Textiles, Apparel & Luxury Goods | 5609 | 154864 |
| &nbsp;&nbsp;&nbsp;Viatris Inc. | Pharmaceuticals | 21720 | 241744 |
| &nbsp;&nbsp;&nbsp;VICI Properties Inc. | Equity Real Estate Investment Trusts (REITs) | 17193 | 557053 |
| &nbsp;&nbsp;&nbsp;Visa Inc., A | IT Services | 29322 | 6091939 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | Independent Power Producers & Energy Traders | 6878 | 159570 |
| <sup>a</sup> VMware Inc., A | Software | 3620 | 444391 |
| &nbsp;&nbsp;&nbsp;Voya Financial Inc. | Diversified Financial Services | 1810 | 111297 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | Construction Materials | 2351 | 411684 |
| &nbsp;&nbsp;&nbsp;W R Berkley Corp. | Insurance | 3620 | 262703 |
| &nbsp;&nbsp;&nbsp;W.W. Grainger Inc. | Trading Companies & Distributors | 724 | 402725 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | Food & Staples Retailing | 13032 | 486876 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | Food & Staples Retailing | 25340 | 3592959 |
| &nbsp;&nbsp;&nbsp;Waste Management Inc. | Commercial Services & Supplies | 6695 | 1050312 |
| <sup>a</sup> Waters Corp. | Life Sciences Tools & Services | 1086 | 372042 |
| &nbsp;&nbsp;&nbsp;Watsco Inc. | Trading Companies & Distributors | 541 | 134925 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | Multi-Utilities | 5792 | 543058 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | Banks | 68056 | 2810032 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | Equity Real Estate Investment Trusts (REITs) | 8326 | 545769 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services Inc. | Life Sciences Tools & Services | 1265 | 297718 |
| <sup>a</sup> Western Digital Corp. | Technology Hardware, Storage & Peripherals | 5792 | 182738 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | Machinery | 3258 | 325181 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | Chemicals | 541 | 55474 |
| &nbsp;&nbsp;&nbsp;Westrock Co. | Containers & Packaging | 4344 | 152735 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | Equity Real Estate Investment Trusts (REITs) | 13032 | 403992 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | Household Durables | 1086 | 153626 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | Insurance | 1989 | 486470 |
| <sup>a</sup> Workday Inc., A | Software | 3620 | 605735 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | Equity Real Estate Investment Trusts (REITs) | 3799 | 296892 |
| <sup>a</sup> Wynn Resorts Ltd. | Hotels, Restaurants & Leisure | 1810 | 149271 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | Electric Utilities | 9774 | 685255 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | Machinery | 3258 | 360237 |
| &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | Hotels, Restaurants & Leisure | 5068 | 649109 |
| <sup>a</sup> Zebra Technologies Corp., A | Electronic Equipment, Instruments & Components | 903 | 231538 |
| <sup>a</sup> Zillow Group Inc., A | Real Estate Management & Development | 1265 | 39481 |
| <sup>a</sup> Zillow Group Inc., C | Real Estate Management & Development | 2713 | 87386 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | Health Care Equipment & Supplies | 3799 | 484373 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | Banks | 2713 | 133371 |
| &nbsp;&nbsp;&nbsp;Zoetis Inc. | Pharmaceuticals | 8326 | 1220175 |
| <sup>a</sup> Zoom Video Communications Inc., A | Software | 3982 | 269741 |
| <sup>a</sup> ZoomInfo Technologies Inc., A | Interactive Media & Services | 4885 | 147087 |
| <sup>a</sup> Zscaler Inc. | Software | 1448 | 162031 |
|  |  |  | 595303571 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $620,633,240)** |  |  | 600485286 |
| &nbsp;&nbsp;&nbsp;**Preferred Stocks 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Brazil 0.0%<sup>†</sup>** |  |  |  |
| <sup>d</sup> Cia Energetica de Minas Gerais, 12.217%, pfd. | Electric Utilities | 1 | 2 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; **Russia 0.0%<sup>†</sup>** |  |  |  |
| <sup>b,d</sup> Surgutneftegas PJSC, pfd. | Oil, Gas & Consumable Fuels | 10688 |  |
| &nbsp;&nbsp;&nbsp; **Total Preferred Stocks (Cost $6,130)** |  |  | 2 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term** |  |  |  |
| **Investments (Cost $620,639,370)** |  |  | 600485288 |
| &nbsp;&nbsp;&nbsp; **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Investments from Cash Collateral** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Received for Loaned Securities 0.0%<sup>†</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp; **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>e,f</sup> Institutional Fiduciary Trust Portfolio, 3.84% | Money Market Funds | 363999 | 363999 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(Cost $363,999)** |  |  | 363999 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $621,003,369) 99.8%** |  |  | 600849287 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.2%** |  |  | 906354 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $601755641 |

---

<sup>†</sup>Rounds to less than 0.1% of net assets.<br> <sup>a</sup>Non-income producing.<br> <sup>b</sup>Fair valued using significant unobservable inputs. See Note 4 regarding fair value measurements.<br> <sup>c</sup>A portion or all of the security is on loan at December 31, 2022.<br> <sup>d</sup>Variable rate security. The rate shown represents the yield at period end.<br> <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies.<br> <sup>f</sup>The rate shown is the annualized seven-day effective yield at period end.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | **Notional** | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | **Amount\*** | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| S&P 500 E-Mini | S&P 500 E-Mini | Long | 4 | $772200 | 3/17/23 | $(21637) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Abbreviations** | **Abbreviations** |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **GDR** | Global Depositary Receipt |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **SBA** | Small Business Administration |  |  |  |  |  |

---

------

---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Large Cap Multifactor Index ETF** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.9%** |  |  |
| &nbsp;&nbsp;&nbsp; **Communication Services 4.8%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., A | 153052 | $13503778 |
| &nbsp;&nbsp;&nbsp; AT&T Inc. | 605293 | 11143444 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies Inc. | 175641 | 916846 |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group Inc. | 5071 | 887577 |
| &nbsp;&nbsp;&nbsp; Omnicom Group Inc. | 18440 | 1504151 |
| &nbsp;&nbsp;&nbsp; The Interpublic Group of Companies Inc. | 27660 | 921354 |
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc. | 344367 | 13568060 |
| &nbsp;&nbsp;&nbsp; World Wrestling Entertainment Inc., A | 11986 | 821281 |
|  |  | 43266491 |
| &nbsp;&nbsp;&nbsp; **Consumer Discretionary 10.6%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> Amazon.com Inc. | 144754 | 12159336 |
| &nbsp;&nbsp; <sup>a</sup> AutoNation Inc. | 7837 | 840910 |
| &nbsp;&nbsp; <sup>a</sup> AutoZone Inc. | 2127 | 5245565 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods Inc. | 7837 | 942713 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 16135 | 3973244 |
| &nbsp;&nbsp;&nbsp; DR Horton Inc. | 26738 | 2383425 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 14291 | 2479631 |
| &nbsp;&nbsp; <sup>a</sup> Grand Canyon Education Inc. | 8298 | 876767 |
| &nbsp;&nbsp;&nbsp; H&R Block Inc. | 22128 | 807893 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 29504 | 744976 |
| &nbsp;&nbsp;&nbsp; Lennar Corp., A | 21667 | 1960864 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | 18440 | 984880 |
| &nbsp;&nbsp;&nbsp; Lowe's Companies Inc. | 55320 | 11021957 |
| &nbsp;&nbsp;&nbsp; Macy's Inc. | 41029 | 847249 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 52554 | 13849556 |
| &nbsp;&nbsp; <sup>a</sup> NVR Inc. | 250 | 1153145 |
| &nbsp;&nbsp; <sup>a</sup> O'Reilly Automotive Inc. | 6915 | 5836467 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group Inc. | 7376 | 847724 |
| &nbsp;&nbsp;&nbsp; PulteGroup Inc. | 21206 | 965509 |
| &nbsp;&nbsp;&nbsp; Ross Stores Inc. | 14291 | 1658756 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 47944 | 4756045 |
| &nbsp;&nbsp;&nbsp; Tapestry Inc. | 25355 | 965518 |
| &nbsp;&nbsp;&nbsp; Tempur Sealy International Inc. | 30426 | 1044525 |
| &nbsp;&nbsp; <sup>a</sup> Tesla Inc. | 60909 | 7502771 |
| &nbsp;&nbsp;&nbsp; The TJX Companies Inc. | 49327 | 3926429 |
| &nbsp;&nbsp;&nbsp; Toll Brothers Inc. | 19823 | 989564 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | 4610 | 1037112 |
| &nbsp;&nbsp; <sup>a</sup> Ulta Beauty Inc. | 4232 | 1985104 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma Inc. | 8298 | 953606 |
| &nbsp;&nbsp;&nbsp; Yum! Brands Inc. | 25816 | 3306513 |
|  |  | 96047754 |
| &nbsp;&nbsp;&nbsp; **Consumer Staples 6.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Companies Inc. | 46100 | 956114 |
| &nbsp;&nbsp;&nbsp; Altria Group Inc. | 177946 | 8133912 |
| &nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | 55781 | 5179266 |
| &nbsp;&nbsp; <sup>a</sup> BJ's Wholesale Club Holdings Inc. | 12908 | 853993 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 28247 | 12894755 |
| &nbsp;&nbsp;&nbsp; General Mills Inc. | 56703 | 4754547 |
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc. | 133690 | 13530765 |
| &nbsp;&nbsp;&nbsp; The Hershey Co. | 13369 | 3095859 |
| &nbsp;&nbsp;&nbsp; Walgreens Boots Alliance Inc. | 59008 | 2204539 |
| &nbsp;&nbsp;&nbsp; Walmart Inc. | 59469 | 8432109 |
|  |  | 60035859 |
| &nbsp;&nbsp;&nbsp; **Energy 8.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. | 9220 | 870091 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 98654 | 17707406 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | 108335 | 12783530 |
| &nbsp;&nbsp;&nbsp; Coterra Energy Inc., A | 70072 | 1721669 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | 60852 | 3743007 |
| &nbsp;&nbsp;&nbsp; EOG Resources Inc. | 50249 | 6508250 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 131385 | 14491766 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. | 15674 | 813324 |
| &nbsp;&nbsp;&nbsp; Marathon Oil Corp. | 42873 | 1160572 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 31809 | 3702250 |
| &nbsp;&nbsp;&nbsp; Ovintiv Inc. | 19362 | 981847 |
| &nbsp;&nbsp;&nbsp; PDC Energy Inc. | 12908 | 819400 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. | 20745 | 4737951 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 371 | 869709 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 31348 | 3976807 |
|  |  | 74887579 |
| &nbsp;&nbsp;&nbsp; **Financials 5.0%** |  |  |
| &nbsp;&nbsp;&nbsp; American International Group Inc. | 59008 | 3731666 |
| &nbsp;&nbsp; <sup>a</sup> Arch Capital Group Ltd. | 16135 | 1012955 |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | 13369 | 2520591 |
| &nbsp;&nbsp;&nbsp; Assured Guaranty Ltd. | 14291 | 889758 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings Ltd. | 16596 | 899005 |
| &nbsp;&nbsp; <sup>a</sup> Berkshire Hathaway Inc., B | 35036 | 10822620 |
| &nbsp;&nbsp; <sup>a</sup> Brighthouse Financial Inc. | 17518 | 898148 |
| &nbsp;&nbsp;&nbsp; Erie Indemnity Co., A | 3227 | 802619 |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems Inc. | 2570 | 1031110 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | 45639 | 1118156 |
| &nbsp;&nbsp;&nbsp; FNB Corp. | 70072 | 914440 |
| &nbsp;&nbsp;&nbsp; Globe Life Inc. | 7837 | 944750 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 33192 | 4451047 |
| &nbsp;&nbsp;&nbsp; Lazard Ltd., A | 26277 | 911024 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings Inc. | 5071 | 1096198 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 71916 | 934908 |
| &nbsp;&nbsp;&nbsp; Principal Financial Group Inc. | 16596 | 1392736 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc. | 6454 | 917049 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc. | 46100 | 845013 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 43795 | 1439104 |
| &nbsp;&nbsp;&nbsp; The Progressive Corp. | 44717 | 5800242 |
| &nbsp;&nbsp;&nbsp; Unum Group | 25355 | 1040316 |
| &nbsp;&nbsp;&nbsp; W R Berkley Corp. | 17518 | 1271281 |
|  |  | 45684736 |
| &nbsp;&nbsp;&nbsp; **Health Care 20.3%** |  |  |
| &nbsp;&nbsp;&nbsp; AbbVie Inc. | 101420 | 16390486 |
| &nbsp;&nbsp;&nbsp; Amgen Inc. | 45639 | 11986627 |
| &nbsp;&nbsp; <sup>a</sup> Biogen Inc. | 5993 | 1659581 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 168726 | 12139836 |
| &nbsp;&nbsp;&nbsp; Cardinal Health Inc. | 25355 | 1949039 |
| &nbsp;&nbsp; <sup>a</sup> Centene Corp. | 49788 | 4083114 |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 1841 | 939702 |
| &nbsp;&nbsp;&nbsp; Cigna Corp. | 31348 | 10386846 |
| &nbsp;&nbsp;&nbsp; Elevance Health Inc. | 22977 | 11786512 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 46100 | 16865224 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 16596 | 992607 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare Inc. | 18440 | 4424862 |
| &nbsp;&nbsp;&nbsp; Humana Inc. | 8298 | 4250153 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 83441 | 14739853 |
| &nbsp;&nbsp;&nbsp; Merck & Co. Inc. | 147059 | 16316196 |
| &nbsp;&nbsp; <sup>a</sup> Molina Healthcare Inc. | 5071 | 1674546 |
| &nbsp;&nbsp; <sup>a</sup> Neurocrine Biosciences Inc. | 7376 | 880989 |
| &nbsp;&nbsp;&nbsp; Organon & Co. | 36419 | 1017183 |
| &nbsp;&nbsp;&nbsp; Pfizer Inc. | 325927 | 16700499 |
| &nbsp;&nbsp;&nbsp; Premier Inc., A | 29504 | 1032050 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics Inc. | 10142 | 1586614 |
| &nbsp;&nbsp; <sup>a</sup> Regeneron Pharmaceuticals Inc. | 9912 | 7151409 |
| &nbsp;&nbsp; <sup>a</sup> United Therapeutics Corp. | 4610 | 1281995 |

---

------

---

| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| UnitedHealth Group Inc. | 30426 | 16131257 |
| <sup>a</sup> Vertex Pharmaceuticals Inc. | 24894 | 7188889 |
|  |  | 183556069 |
| **Industrials 7.5%** |  |  |
| Allison Transmission Holdings Inc. | 21667 | 901347 |
| <sup>a</sup> Builders FirstSource Inc. | 15674 | 1016929 |
| BWX Technologies Inc. | 16135 | 937121 |
| <sup>a</sup> Copa Holdings SA, A | 11064 | 920193 |
| Crane Holdings Co. | 9220 | 926149 |
| Cummins Inc. | 9681 | 2345609 |
| Curtiss-Wright Corp. | 5532 | 923789 |
| General Dynamics Corp. | 23511 | 5833314 |
| Hubbell Inc., B | 4610 | 1081875 |
| Huntington Ingalls Industries Inc. | 4149 | 957091 |
| Knight-Swift Transportation Holdings Inc. | 17518 | 918118 |
| Leidos Holdings Inc. | 12908 | 1357793 |
| Lockheed Martin Corp. | 25765 | 12534415 |
| MSC Industrial Direct Co. Inc., A | 11525 | 941593 |
| Northrop Grumman Corp. | 15256 | 8323826 |
| Owens Corning | 11064 | 943759 |
| PACCAR Inc. | 32731 | 3239387 |
| Rollins Inc. | 24433 | 892782 |
| Ryder System Inc. | 10603 | 886093 |
| Schneider National Inc., B | 38263 | 895354 |
| Snap-on Inc. | 4610 | 1053339 |
| Toro Co. | 8759 | 991519 |
| U-Haul Holding Co. | 15213 | 915670 |
| United Parcel Service Inc., B | 64079 | 11139493 |
| W.W. Grainger Inc. | 4526 | 2517588 |
| Waste Management Inc. | 28121 | 4411622 |
|  |  | 67805768 |
| **Information Technology 31.9%** |  |  |
| <sup>a</sup> Alphabet Inc., C | 135995 | 12066836 |
| Amdocs Ltd. | 13830 | 1257147 |
| Amphenol Corp., A | 52093 | 3966361 |
| Apple Inc. | 448092 | 58220594 |
| Applied Materials Inc. | 75143 | 7317425 |
| <sup>a</sup> Arista Networks Inc. | 24894 | 3020887 |
| <sup>a</sup> Arrow Electronics Inc. | 8759 | 915929 |
| Automatic Data Processing Inc. | 27199 | 6496753 |
| Avnet Inc. | 21206 | 881745 |
| Booz Allen Hamilton Holding Corp. | 10603 | 1108226 |
| Broadcom Inc. | 26695 | 14925975 |
| <sup>a</sup> CACI International Inc., A | 3227 | 970004 |
| <sup>a</sup> Cadence Design Systems Inc. | 23050 | 3702752 |
| <sup>a</sup> Cirrus Logic Inc. | 12908 | 961388 |
| Cisco Systems Inc. | 289047 | 13770199 |
| Corning Inc. | 69150 | 2208651 |
| Dell Technologies Inc., C | 25816 | 1038319 |
| <sup>a</sup> Dropbox Inc., A | 40568 | 907912 |
| <sup>a</sup> Fair Isaac Corp. | 1383 | 827836 |
| <sup>a</sup> Fortinet Inc. | 58086 | 2839825 |
| <sup>a</sup> Gartner Inc. | 5532 | 1859526 |
| Hewlett Packard Enterprise Co. | 136456 | 2177838 |
| HP Inc. | 106491 | 2861413 |
| International Business Machines Corp. | 84824 | 11950853 |
| Jabil Inc. | 14752 | 1006086 |
| Jack Henry & Associates Inc. | 5993 | 1052131 |
| KLA Corp. | 14291 | 5388136 |
| Lam Research Corp. | 12034 | 5057890 |
| <sup>a</sup> Lattice Semiconductor Corp. | 13369 | 867381 |
| <sup>a</sup> Manhattan Associates Inc. | 7837 | 951412 |
| Mastercard Inc., A | 47022 | 16350960 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | 23050 | 1619262 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 208833 | 50082330 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 11525 | 2970108 |
| &nbsp;&nbsp;&nbsp;National Instruments Corp. | 23050 | 850545 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 20745 | 1245945 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 28582 | 4176973 |
| <sup>a</sup> ON Semiconductor Corp. | 43334 | 2702742 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 62696 | 5124771 |
| &nbsp;&nbsp;&nbsp;Paychex Inc. | 28121 | 3249663 |
| <sup>a</sup> Pure Storage Inc., A | 31809 | 851209 |
| &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 97732 | 10744656 |
| &nbsp;&nbsp;&nbsp;Science Applications International Corp. | 8759 | 971636 |
| <sup>a</sup> Synopsys Inc. | 11986 | 3827010 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 74221 | 12262794 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 67306 | 926804 |
|  |  | 288534838 |
| &nbsp;&nbsp;&nbsp;**Materials 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. | 21667 | 1846028 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, A | 23050 | 1913842 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 26277 | 3463571 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 7837 | 1002431 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | 5532 | 1119898 |
| &nbsp;&nbsp;&nbsp;Silgan Holdings Inc. | 17979 | 932031 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 15674 | 951569 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 15674 | 946553 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 18901 | 1846628 |
| &nbsp;&nbsp;&nbsp;The Mosaic Co. | 34114 | 1496581 |
| &nbsp;&nbsp;&nbsp;United States Steel Corp. | 37341 | 935392 |
|  |  | 16454524 |
| &nbsp;&nbsp;&nbsp;**Real Estate 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;EPR Properties | 23050 | 869446 |
| &nbsp;&nbsp;&nbsp;Gaming and Leisure Properties Inc. | 25355 | 1320742 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 54398 | 1152150 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 21206 | 970387 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 31348 | 876177 |
| &nbsp;&nbsp;&nbsp;Public Storage | 14752 | 4133363 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 50710 | 3216535 |
| &nbsp;&nbsp;&nbsp;SL Green Realty Corp. | 23511 | 792791 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | 30426 | 975457 |
| &nbsp;&nbsp;&nbsp;VICI Properties Inc. | 96810 | 3136644 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 19362 | 1513140 |
|  |  | 18956832 |
| &nbsp;&nbsp;&nbsp;**Utilities 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 7837 | 878292 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. | 31809 | 3031716 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 14752 | 933802 |
| &nbsp;&nbsp;&nbsp;NRG Energy Inc. | 26738 | 850803 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | 23511 | 929860 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 13369 | 2066045 |
|  |  | 8690518 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $912,469,942)** |  | 903920968 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $912,469,942) 99.9%** |  | 903920968 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.1%** |  | 1333400 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  | $905254368 |

---

<sup>a</sup>Non-income producing.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  |  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** | **Futures Contracts** |  |  |  |  |  |
|  |  |  |  |  |  | **Value/Unrealized** |
|  |  |  | **Number of** | Notional | **Expiration** | **Appreciation** |
| **Description** |  | **Type** | **Contracts** | Amount\* | **Date** | **(Depreciation)** |
| **Index Contracts** | **Index Contracts** |  |  |  |  |  |
| S&P 500 E-Mini | S&P 500 E-Mini | Long | 3 | $579150 | 3/17/23 | $(16228) |
| \*As of period end. | \*As of period end. |  |  |  |  |  |
| **Selected Portfolio** | **Selected Portfolio** |  |  |  |  |  |
| **REIT** | Real Estate Investment Trust |  |  |  |  |  |
| **SBA** | Small Business Administration |  |  |  |  |  |

---

------

---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Low Volatility ETF** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.1%** |  |  |
| &nbsp;&nbsp;&nbsp; **Communication Services 7.0%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> Alphabet Inc., A | 18020 | $1589905 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., A | 46990 | 1643240 |
| &nbsp;&nbsp; <sup>a</sup> Liberty Broadband Corp. | 22881 | 1745134 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. | 81611 | 1575908 |
| &nbsp;&nbsp; <sup>a</sup> The Walt Disney Co. | 18558 | 1612319 |
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc. | 43064 | 1696722 |
|  |  | 9863228 |
| &nbsp;&nbsp;&nbsp; **Consumer Discretionary 10.2%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> Amazon.com Inc. | 16628 | 1396752 |
| &nbsp;&nbsp; <sup>a</sup> AutoZone Inc. | 586 | 1445182 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 5854 | 1441548 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 5344 | 1408304 |
| &nbsp;&nbsp; <sup>a</sup> NVR Inc. | 304 | 1402224 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 14459 | 1434333 |
| &nbsp;&nbsp;&nbsp; Target Corp. | 9795 | 1459847 |
| &nbsp;&nbsp;&nbsp; The Home Depot Inc. | 4484 | 1416316 |
| &nbsp;&nbsp;&nbsp; The TJX Companies Inc. | 18244 | 1452222 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | 6725 | 1512923 |
|  |  | 14369651 |
| &nbsp;&nbsp;&nbsp; **Consumer Staples 6.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 24240 | 1909870 |
| &nbsp;&nbsp;&nbsp; Mondelez International Inc., A | 29003 | 1933050 |
| &nbsp;&nbsp;&nbsp; PepsiCo Inc. | 10431 | 1884464 |
| &nbsp;&nbsp;&nbsp; The Coca-Cola Co. | 30090 | 1914025 |
| &nbsp;&nbsp;&nbsp; The Procter & Gamble Co. | 12691 | 1923448 |
|  |  | 9564857 |
| &nbsp;&nbsp;&nbsp; **Energy 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 10286 | 1846234 |
| &nbsp;&nbsp; <sup>a</sup> DTE Midstream LLC | 32004 | 1768541 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 16630 | 1834289 |
| &nbsp;&nbsp;&nbsp; The Williams Companies Inc. | 53331 | 1754590 |
|  |  | 7203654 |
| &nbsp;&nbsp;&nbsp; **Financials 11.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | 8790 | 1657267 |
| &nbsp;&nbsp;&nbsp; BlackRock Inc. | 2351 | 1665989 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange Inc. | 16177 | 1659599 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 12524 | 1679468 |
| &nbsp;&nbsp;&nbsp; MetLife Inc. | 22882 | 1655970 |
| &nbsp;&nbsp;&nbsp; Nasdaq Inc. | 26899 | 1650254 |
| &nbsp;&nbsp;&nbsp; S&P Global Inc. | 4843 | 1622114 |
| &nbsp;&nbsp;&nbsp; The Progressive Corp. | 12798 | 1660029 |
| &nbsp;&nbsp;&nbsp; The Travelers Companies Inc. | 8878 | 1664536 |
| &nbsp;&nbsp;&nbsp; US Bancorp | 38715 | 1688361 |
|  |  | 16603587 |
| &nbsp;&nbsp;&nbsp; **Health Care 14.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | 18246 | 2003228 |
| &nbsp;&nbsp;&nbsp; AbbVie Inc. | 12063 | 1949502 |
| &nbsp;&nbsp;&nbsp; Amgen Inc. | 7333 | 1925939 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson and Co. | 7823 | 1989389 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 26592 | 1913295 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 20153 | 1878058 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | 7506 | 1992243 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 11088 | 1958695 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 19528 | 1517716 |
| &nbsp;&nbsp;&nbsp; Merck & Co. Inc. | 17834 | 1978682 |

---

------

---

| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| UnitedHealth Group Inc. | 3712 | 1968028 |
|  |  | 21074775 |
| **Industrials 10.7%** |  |  |
| AMETEK Inc. | 10548 | 1473767 |
| General Dynamics Corp. | 5908 | 1465834 |
| Honeywell International Inc. | 6903 | 1479313 |
| IDEX Corp. | 6381 | 1456974 |
| Illinois Tool Works Inc. | 6645 | 1463893 |
| Lockheed Martin Corp. | 2999 | 1458983 |
| Republic Services Inc. | 11107 | 1432692 |
| Roper Technologies Inc. | 4345 | 1877431 |
| Union Pacific Corp. | 6983 | 1445970 |
| Verisk Analytics Inc. | 8319 | 1467638 |
|  |  | 15022495 |
| **Information Technology 23.6%** |  |  |
| Accenture PLC, A | 7181 | 1916178 |
| Amphenol Corp., A | 24193 | 1842055 |
| Analog Devices Inc. | 11138 | 1826966 |
| <sup>a</sup> ANSYS Inc. | 7797 | 1883677 |
| Apple Inc. | 13840 | 1798231 |
| Automatic Data Processing Inc. | 7498 | 1790972 |
| <sup>a</sup> Black Knight Inc. | 31460 | 1942655 |
| Cisco Systems Inc. | 38803 | 1848575 |
| <sup>a</sup> Fiserv Inc. | 18304 | 1849985 |
| International Business Machines Corp. | 13242 | 1865665 |
| Intuit Inc. | 4780 | 1860472 |
| <sup>a</sup> Keysight Technologies Inc. | 10720 | 1833871 |
| Mastercard Inc., A | 5388 | 1873569 |
| Microsoft Corp. | 7634 | 1830786 |
| Oracle Corp. | 22874 | 1869721 |
| <sup>a</sup> Synopsys Inc. | 5680 | 1813567 |
| Texas Instruments Inc. | 10957 | 1810316 |
| Visa Inc., A | 8974 | 1864438 |
|  |  | 33321699 |
| **Materials 2.9%** |  |  |
| Air Products and Chemicals Inc. | 4354 | 1342164 |
| Ecolab Inc. | 9621 | 1400433 |
| Linde PLC | 4170 | 1360170 |
|  |  | 4102767 |
| **Real Estate 3.1%** |  |  |
| Crown Castle Inc. | 10828 | 1468710 |
| First Industrial Realty Trust Inc. | 29541 | 1425649 |
| Public Storage | 5079 | 1423085 |
|  |  | 4317444 |
| **Utilities 3.0%** |  |  |
| American Electric Power Co. Inc. | 11239 | 1067143 |
| Duke Energy Corp. | 10543 | 1085823 |
| NextEra Energy Inc. | 12656 | 1058042 |
| The Southern Co. | 15090 | 1077577 |
|  |  | 4288585 |
| **Total Common Stocks (Cost $128,081,969)** |  | 139732742 |
| **Total Investments before Short-Term Investments** | **Total Investments before Short-Term Investments** |  |
| **(Cost $128,081,969)** |  | 139732742 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Franklin U.S. Low Volatility ETF** | **Country** | **Principal Amount\*** | **Value** |
| **Short-Term Investments 0.7%** |  |  |  |
| **U.S. Government & Agency Securities 0.7%** |  |  |  |
| <sup>b</sup> Federal Home Loan Bank Discount Notes, 1/03/23 | United States | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060000 | $1060000 |
| **Total Short-Term Investments (Cost $1,059,770)** |  |  | 1060000 |
| **Total Investments (Cost $129,141,739) 99.8%** |  |  | 140792742 |
| **Other Assets, less Liabilities 0.2%** |  |  | 214878 |
| **Net Assets 100.0%** |  |  | $141007620 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>Non-income producing.<br> <sup>b</sup>The security was issued on a discount basis with no stated coupon rate.<br>**Selected Portfolio**

---

| | |
|:---|:---|
| **REIT** | Real Estate Investment Trust |

---

------

---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Mid Cap Multifactor Index ETF** | **Shares** |  |
| &nbsp;&nbsp;&nbsp; **Common Stocks 99.7%** |  |  |
| &nbsp;&nbsp;&nbsp; **Communication Services 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Electronic Arts Inc. | 10248 | $1252100 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies Inc. | 57645 | 300907 |
| &nbsp;&nbsp;&nbsp; Omnicom Group Inc. | 13054 | 1064815 |
| &nbsp;&nbsp; <sup>a</sup> Playtika Holding Corp. | 5490 | 46720 |
| &nbsp;&nbsp;&nbsp; World Wrestling Entertainment Inc., A | 2623 | 179728 |
|  |  | 2844270 |
| &nbsp;&nbsp;&nbsp; **Consumer Discretionary 17.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts Inc. | 3843 | 565036 |
| &nbsp;&nbsp; <sup>a</sup> AutoNation Inc. | 2196 | 235631 |
| &nbsp;&nbsp; <sup>a</sup> AutoZone Inc. | 520 | 1282414 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works Inc. | 12627 | 532102 |
| &nbsp;&nbsp;&nbsp; Best Buy Co. Inc. | 14274 | 1144917 |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. | 3782 | 272607 |
| &nbsp;&nbsp;&nbsp; Carter's Inc. | 2501 | 186600 |
| &nbsp;&nbsp;&nbsp; Choice Hotels International Inc. | 1281 | 144292 |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | 2013 | 176299 |
| &nbsp;&nbsp; <sup>a</sup> Deckers Outdoor Corp. | 671 | 267836 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods Inc. | 3782 | 454937 |
| &nbsp;&nbsp; <sup>a</sup> Dollar Tree Inc. | 8906 | 1259665 |
| &nbsp;&nbsp;&nbsp; DR Horton Inc. | 12322 | 1098383 |
| &nbsp;&nbsp;&nbsp; Gap Inc. | 7259 | 81881 |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | 8906 | 821935 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 7320 | 1270093 |
| &nbsp;&nbsp;&nbsp; H&R Block Inc. | 11407 | 416470 |
| &nbsp;&nbsp;&nbsp; Hanesbrands Inc. | 22753 | 144709 |
| &nbsp;&nbsp;&nbsp; Hasbro Inc. | 7381 | 450315 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 5368 | 135542 |
| &nbsp;&nbsp; <sup>a</sup> Leslie's Inc. | 7381 | 90122 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | 13420 | 716762 |
| &nbsp;&nbsp;&nbsp; Macy's Inc. | 13359 | 275863 |
| &nbsp;&nbsp; <sup>a</sup> Mattel Inc. | 17568 | 313413 |
| &nbsp;&nbsp;&nbsp; Newell Brands Inc. | 18910 | 247343 |
| &nbsp;&nbsp;&nbsp; Nordstrom Inc. | 5124 | 82701 |
| &nbsp;&nbsp; <sup>a</sup> Ollie's Bargain Outlet Holdings Inc. | 3355 | 157148 |
| &nbsp;&nbsp; <sup>a</sup> O'Reilly Automotive Inc. | 1552 | 1309935 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group Inc. | 1708 | 196300 |
| &nbsp;&nbsp;&nbsp; Polaris Inc. | 3477 | 351177 |
| &nbsp;&nbsp;&nbsp; Pool Corp. | 2440 | 737685 |
| &nbsp;&nbsp;&nbsp; PulteGroup Inc. | 9150 | 416599 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 1891 | 199822 |
| &nbsp;&nbsp; <sup>a</sup> Skechers USA Inc., A | 5368 | 225188 |
| &nbsp;&nbsp;&nbsp; Tapestry Inc. | 16165 | 615563 |
| &nbsp;&nbsp;&nbsp; Tempur Sealy International Inc. | 12505 | 429297 |
| &nbsp;&nbsp;&nbsp; Thor Industries Inc. | 2196 | 165776 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | 5917 | 1331147 |
| &nbsp;&nbsp; <sup>a</sup> Ulta Beauty Inc. | 2196 | 1030078 |
| &nbsp;&nbsp;&nbsp; VF Corp. | 13603 | 375579 |
| &nbsp;&nbsp; <sup>a</sup> Victoria's Secret & Co. | 5185 | 185519 |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. | 3172 | 448711 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma Inc. | 5124 | 588850 |
| &nbsp;&nbsp; <sup>a</sup> YETI Holdings Inc. | 4148 | 171354 |
|  |  | 21603596 |
| &nbsp;&nbsp;&nbsp; **Consumer Staples 6.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Companies Inc. | 11346 | 235316 |
| &nbsp;&nbsp; <sup>a</sup> BJ's Wholesale Club Holdings Inc. | 6161 | 407612 |
| &nbsp;&nbsp;&nbsp; Campbell Soup Co. | 11468 | 650809 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores Inc. | 1769 | 396875 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co. Inc. | 13969 | 1126041 |
| &nbsp;&nbsp;&nbsp; Flowers Foods Inc. | 13298 | 382185 |
| &nbsp;&nbsp;&nbsp; Kellogg Co. | 14823 | 1055990 |
| &nbsp;&nbsp;&nbsp; The Clorox Co. | 8113 | 1138497 |
| &nbsp;&nbsp;&nbsp; The Hershey Co. | 5734 | 1327822 |
| &nbsp;&nbsp;&nbsp; The Kroger Co. | 27267 | 1215563 |
| &nbsp;&nbsp;&nbsp; Tyson Foods Inc., A | 10248 | 637938 |
|  |  | 8574648 |
| &nbsp;&nbsp;&nbsp; **Energy 5.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Antero Midstream Corp. | 20069 | 216545 |
| &nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. | 5917 | 558387 |
| &nbsp;&nbsp;&nbsp; Coterra Energy Inc., A | 22753 | 559041 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | 18666 | 1148146 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy Inc. | 4514 | 617425 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. | 3660 | 189918 |
| &nbsp;&nbsp;&nbsp; Ovintiv Inc. | 11590 | 587729 |
| &nbsp;&nbsp;&nbsp; PDC Energy Inc. | 3904 | 247826 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | 12078 | 1257078 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. | 10553 | 264036 |
| &nbsp;&nbsp; <sup>a</sup> Southwestern Energy Co. | 46238 | 270492 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 293 | 686859 |
|  |  | 6603482 |
| &nbsp;&nbsp;&nbsp; **Financials 9.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group Inc. | 2562 | 405898 |
| &nbsp;&nbsp;&nbsp; Ally Financial Inc. | 20496 | 501127 |
| &nbsp;&nbsp;&nbsp; Assured Guaranty Ltd. | 2684 | 167106 |
| &nbsp;&nbsp;&nbsp; Brown & Brown Inc. | 14091 | 802764 |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | 9699 | 993081 |
| &nbsp;&nbsp;&nbsp; CNA Financial Corp. | 1586 | 67056 |
| &nbsp;&nbsp; <sup>a</sup> Credit Acceptance Corp. | 427 | 202569 |
| &nbsp;&nbsp;&nbsp; Discover Financial Services | 12383 | 1211429 |
| &nbsp;&nbsp;&nbsp; Erie Indemnity Co., A | 1464 | 364126 |
| &nbsp;&nbsp;&nbsp; Evercore Inc., A | 2257 | 246194 |
| &nbsp;&nbsp;&nbsp; Everest Re Group Ltd. | 1525 | 505187 |
| &nbsp;&nbsp;&nbsp; First American Financial Corp. | 6466 | 338430 |
| &nbsp;&nbsp;&nbsp; Globe Life Inc. | 5673 | 683880 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group Inc. | 2135 | 288502 |
| &nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 7686 | 180775 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 14457 | 187941 |
| &nbsp;&nbsp;&nbsp; OneMain Holdings Inc. | 3477 | 115819 |
| &nbsp;&nbsp;&nbsp; Prosperity Bancshares Inc. | 5002 | 363545 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | 37454 | 807508 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc. | 2745 | 390037 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | 7503 | 437425 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 28609 | 940092 |
| &nbsp;&nbsp;&nbsp; The Allstate Corp. | 10004 | 1356542 |
| &nbsp;&nbsp;&nbsp; Unum Group | 8296 | 340385 |
|  |  | 11897418 |
| &nbsp;&nbsp;&nbsp; **Health Care 8.9%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> Acadia Healthcare Co. Inc. | 3965 | 326399 |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 793 | 404771 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 7259 | 434161 |
| &nbsp;&nbsp; <sup>a</sup> IDEXX Laboratories Inc. | 3172 | 1294049 |
| &nbsp;&nbsp; <sup>a</sup> Incyte Corp. | 9760 | 783923 |
| &nbsp;&nbsp; <sup>a</sup> Maravai LifeSciences Holdings Inc., A | 4392 | 62849 |
| &nbsp;&nbsp; <sup>a</sup> Mettler-Toledo International Inc. | 915 | 1322587 |
| &nbsp;&nbsp; <sup>a</sup> Neurocrine Biosciences Inc. | 5795 | 692155 |
| &nbsp;&nbsp;&nbsp; Organon & Co. | 13359 | 373117 |
| &nbsp;&nbsp; <sup>a</sup> QuidelOrtho Corp. | 2684 | 229938 |
| &nbsp;&nbsp;&nbsp; ResMed Inc. | 5856 | 1218809 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC | 19032 | 752145 |
| &nbsp;&nbsp; <sup>a</sup> Tenet Healthcare Corp. | 4148 | 202381 |

---

------

---

| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| <sup>a</sup> United Therapeutics Corp. | 2440 | 678539 |
| Universal Health Services Inc., B | 4148 | 584412 |
| Viatris Inc. | 50691 | 564191 |
| <sup>a</sup> Waters Corp. | 3843 | 1316535 |
|  |  | 11240961 |
| **Industrials 17.5%** |  |  |
| A O Smith Corp. | 6222 | 356147 |
| Allegion PLC | 5429 | 571457 |
| Allison Transmission Holdings Inc. | 6222 | 258835 |
| <sup>a</sup> Builders FirstSource Inc. | 8418 | 546160 |
| Carrier Global Corp. | 30317 | 1250576 |
| CH Robinson Worldwide Inc. | 7747 | 709315 |
| Cintas Corp. | 2928 | 1322343 |
| Curtiss-Wright Corp. | 2013 | 336151 |
| Donaldson Co. Inc. | 7442 | 438111 |
| Dover Corp. | 8906 | 1205962 |
| Esab Corp. | 2013 | 94450 |
| Expeditors International of Washington Inc. | 10248 | 1064972 |
| Fastenal Co. | 26047 | 1232544 |
| Fortune Brands Innovations Inc. | 7015 | 400627 |
| Graco Inc. | 10187 | 685178 |
| Landstar System Inc. | 2318 | 377602 |
| Lennox International Inc. | 2013 | 481570 |
| Lincoln Electric Holdings Inc. | 3721 | 537647 |
| ManpowerGroup Inc. | 3172 | 263942 |
| Masco Corp. | 8845 | 412796 |
| Masterbrand Inc. | 7503 | 56648 |
| MSC Industrial Direct Co. Inc., A | 3050 | 249185 |
| Nordson Corp. | 3111 | 739547 |
| Old Dominion Freight Line Inc. | 4453 | 1263672 |
| Otis Worldwide Corp. | 17202 | 1347089 |
| Robert Half International Inc. | 6527 | 481889 |
| Rollins Inc. | 16104 | 588440 |
| <sup>a</sup> RXO Inc. | 2684 | 46165 |
| Ryder System Inc. | 2501 | 209009 |
| Schneider National Inc., B | 3721 | 87071 |
| Snap-on Inc. | 3721 | 850211 |
| Toro Co. | 5917 | 669804 |
| Trane Technologies PLC | 7503 | 1261179 |
| W.W. Grainger Inc. | 2225 | 1237656 |
| Watsco Inc. | 2135 | 532469 |
|  |  | 22166419 |
| **Information Technology 17.3%** |  |  |
| <sup>a</sup> Akamai Technologies Inc. | 7930 | 668499 |
| Amdocs Ltd. | 7503 | 682023 |
| <sup>a</sup> Arista Networks Inc. | 9638 | 1169571 |
| Booz Allen Hamilton Holding Corp. | 10309 | 1077497 |
| <sup>a</sup> Cadence Design Systems Inc. | 7808 | 1254277 |
| CDW Corp. | 7137 | 1274526 |
| Dolby Laboratories Inc., A | 3416 | 240965 |
| <sup>a</sup> F5 Inc. | 3416 | 490230 |
| <sup>a</sup> Fair Isaac Corp. | 1504 | 900264 |
| <sup>a</sup> Fortinet Inc. | 25254 | 1234668 |
| Gen Digital Inc. | 28731 | 615705 |
| Hewlett Packard Enterprise Co. | 63867 | 1019317 |
| HP Inc. | 42334 | 1137515 |
| Juniper Networks Inc. | 18239 | 582918 |
| <sup>a</sup> Manhattan Associates Inc. | 3416 | 414702 |
| Monolithic Power Systems Inc. | 2440 | 862808 |
| Motorola Solutions Inc. | 4941 | 1273345 |
| National Instruments Corp. | 7503 | 276861 |
| NetApp Inc. | 15799 | 948888 |
| Paychex Inc. | 10797 | 1247701 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |  |
| <sup>a</sup> Paycom Software Inc. |  |  | 2562 | 795014 |
| <sup>a</sup> Synopsys Inc. |  |  | 3965 | 1265985 |
| &nbsp;&nbsp;&nbsp;Teradyne Inc. |  |  | 8357 | 729984 |
| <sup>a</sup> VeriSign Inc. |  |  | 5917 | 1215589 |
| &nbsp;&nbsp;&nbsp;Vontier Corp. |  |  | 10126 | 195736 |
| &nbsp;&nbsp;&nbsp;Western Union Co. |  |  | 28975 | 398986 |
|  |  |  |  | 21973574 |
| &nbsp;&nbsp;&nbsp;**Materials 7.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging SA |  |  | 3782 | 18192 |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. |  |  | 5124 | 927444 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. |  |  | 9150 | 779580 |
| &nbsp;&nbsp;&nbsp;Chemours Co. |  |  | 5917 | 181179 |
| &nbsp;&nbsp;&nbsp;Huntsman Corp. |  |  | 6954 | 191096 |
| &nbsp;&nbsp;&nbsp;International Paper Co. |  |  | 17995 | 623167 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. |  |  | 4636 | 274451 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, A |  |  | 12932 | 1073744 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. |  |  | 8967 | 1181940 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America |  |  | 3477 | 444743 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. |  |  | 3721 | 753279 |
| &nbsp;&nbsp;&nbsp;RPM International Inc. |  |  | 7015 | 683612 |
| &nbsp;&nbsp;&nbsp;Sealed Air Corp. |  |  | 7930 | 395548 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. |  |  | 5490 | 333298 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. |  |  | 9699 | 947592 |
|  |  |  |  | 8808865 |
| &nbsp;&nbsp;&nbsp;**Real Estate 3.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. |  |  | 6710 | 1083799 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust |  |  | 5307 | 593747 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage Inc. |  |  | 7015 | 1032468 |
| &nbsp;&nbsp;&nbsp;First Industrial Realty Trust Inc. |  |  | 6954 | 335600 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust Inc. |  |  | 15250 | 293868 |
| &nbsp;&nbsp;&nbsp;Highwoods Properties Inc. |  |  | 6588 | 184332 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. |  |  | 10492 | 480114 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. |  |  | 14152 | 453713 |
|  |  |  |  | 4457641 |
| &nbsp;&nbsp;&nbsp;**Utilities 4.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  | 13542 | 1204155 |
| &nbsp;&nbsp;&nbsp;American Water Works Co. Inc. |  |  | 8845 | 1348155 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. |  |  | 13664 | 1302316 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. |  |  | 29646 | 1243353 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. |  |  | 4514 | 285736 |
| &nbsp;&nbsp;&nbsp;NRG Energy Inc. |  |  | 12871 | 409555 |
| &nbsp;&nbsp;&nbsp;UGI Corp. |  |  | 7625 | 282659 |
|  |  |  |  | 6075929 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks (Cost $123,142,566)** |  |  |  | 126246803 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $123,142,566) 99.7%** |  |  |  | 126246803 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.3%** |  |  |  | 378983 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  |  | $126625786 |
| <sup>a</sup>Non-income producing. |  |  |  |  |
| At December 31, 2022, the Fund had the following futures contracts outstanding. | At December 31, 2022, the Fund had the following futures contracts outstanding. |  |  |  |
| **Futures Contracts** |  |  |  |  |
|  |  |  |  | **Value/Unrealized** |
|  | **Number of** | **Notional Expiration** | **Notional Expiration** | **Appreciation** |
| **Description** | **Type Contracts Amount\*** | **Type Contracts Amount\*** | &nbsp;&nbsp;**Date** | **(Depreciation)** |

---

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| **Futures Contracts** (continued) |  |  |  |  |  |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; S&P MidCap 400 E-Mini | &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;&nbsp;&nbsp;&nbsp; Long | 1 | $244260 | 3/17/23 | $(8842) |
| \*As of period end. |  |  |  |  |  |
| **Selected Portfolio** |  |  |  |  |  |

---

---

| | |
|:---|:---|
| **REIT** | Real Estate Investment Trust |

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---

| | | |
|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST**<br> **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Small Cap Multifactor Index ETF** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp; **Value** |
| &nbsp;&nbsp;&nbsp; **Common Stocks 100.0%** |  |  |
| &nbsp;&nbsp;&nbsp; **Communication Services 2.6%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> AMC Networks Inc., A | 684 | $10718 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Holdings Inc. | 945 | 53941 |
| &nbsp;&nbsp; <sup>a</sup> IDT Corp., B | 333 | 9381 |
| &nbsp;&nbsp;&nbsp; John Wiley & Sons Inc., A | 945 | 37857 |
| &nbsp;&nbsp; <sup>a</sup> Liberty Latin America Ltd., A | 783 | 5896 |
| &nbsp;&nbsp; <sup>a</sup> Liberty Latin America Ltd., C | 3051 | 23188 |
| &nbsp;&nbsp; <sup>a</sup> Ooma Inc. | 423 | 5761 |
| &nbsp;&nbsp; <sup>a</sup> Playstudios Inc. | 819 | 3178 |
| &nbsp;&nbsp;&nbsp; Scholastic Corp. | 603 | 23794 |
| &nbsp;&nbsp;&nbsp; Sinclair Broadcast Group Inc., A | 612 | 9492 |
| &nbsp;&nbsp;&nbsp; TEGNA Inc. | 4770 | 101076 |
| &nbsp;&nbsp;&nbsp; Telephone and Data Systems Inc. | 2313 | 24263 |
| &nbsp;&nbsp; <sup>a</sup> Thryv Holdings Inc. | 414 | 7866 |
| &nbsp;&nbsp; <sup>a</sup> United States Cellular Corp. | 297 | 6192 |
| &nbsp;&nbsp; <sup>a</sup> Yelp Inc. | 1728 | 47244 |
| &nbsp;&nbsp; <sup>a</sup> ZipRecruiter Inc., A | 783 | 12857 |
|  |  | 382704 |
| &nbsp;&nbsp;&nbsp; **Consumer Discretionary 17.9%** |  |  |
| &nbsp;&nbsp; <sup>a</sup> 1-800- Flowers.com Inc., A | 621 | 5937 |
| &nbsp;&nbsp; <sup>a</sup> Abercrombie & Fitch Co., A | 1332 | 30516 |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors Inc. | 1602 | 84169 |
| &nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. | 900 | 38214 |
| &nbsp;&nbsp; <sup>a</sup> Adtalem Global Education Inc. | 459 | 16295 |
| &nbsp;&nbsp;&nbsp; American Eagle Outfitters Inc. | 3456 | 48246 |
| &nbsp;&nbsp; <sup>a</sup> American Public Education Inc. | 351 | 4314 |
| &nbsp;&nbsp; <sup>a</sup> America's Car-Mart Inc. | 135 | 9755 |
| &nbsp;&nbsp; <sup>a</sup> Asbury Automotive Group Inc. | 468 | 83889 |
| &nbsp;&nbsp;&nbsp; Big 5 Sporting Goods Corp. | 450 | 3974 |
| &nbsp;&nbsp;&nbsp; Big Lots Inc. | 855 | 12569 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands Inc. | 2412 | 48529 |
| &nbsp;&nbsp;&nbsp; Bluegreen Vacations Holding Corp. | 117 | 2920 |
| &nbsp;&nbsp; <sup>a</sup> Build-A-Bear Workshop Inc. | 261 | 6222 |
| &nbsp;&nbsp;&nbsp; Caleres Inc. | 657 | 14638 |
| &nbsp;&nbsp;&nbsp; Camping World Holdings Inc., A | 819 | 18280 |
| &nbsp;&nbsp; <sup>a</sup> CarParts.com Inc. | 909 | 5690 |
| &nbsp;&nbsp; <sup>a</sup> Century Casinos Inc. | 513 | 3606 |
| &nbsp;&nbsp; <sup>a</sup> Chico's FAS Inc. | 1242 | 6111 |
| &nbsp;&nbsp; <sup>a</sup> Chuy's Holdings Inc. | 342 | 9679 |
| &nbsp;&nbsp; <sup>a</sup> Citi Trends Inc. | 207 | 5481 |
| &nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store Inc. | 666 | 63097 |
| &nbsp;&nbsp; <sup>a</sup> Destination XL Group Inc. | 1071 | 7229 |
| &nbsp;&nbsp;&nbsp; Dillard's Inc., A | 126 | 40723 |
| &nbsp;&nbsp; <sup>a</sup> Duluth Holdings Inc., B | 333 | 2058 |
| &nbsp;&nbsp;&nbsp; Ethan Allen Interiors Inc. | 648 | 17120 |
| &nbsp;&nbsp;&nbsp; Foot Locker Inc. | 1377 | 52037 |
| &nbsp;&nbsp; <sup>a</sup> Fossil Group Inc. | 747 | 3220 |
| &nbsp;&nbsp;&nbsp; Franchise Group Inc. | 531 | 12648 |
| &nbsp;&nbsp; <sup>a</sup> Frontdoor Inc. | 1341 | 27893 |
| &nbsp;&nbsp; <sup>a</sup> Funko Inc., A | 567 | 6186 |
| &nbsp;&nbsp; <sup>a</sup> Genesco Inc. | 306 | 14082 |
| &nbsp;&nbsp; <sup>a</sup> G-III Apparel Group Ltd. | 720 | 9871 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive Inc. | 342 | 61687 |
| &nbsp;&nbsp;&nbsp; Guess? Inc. | 540 | 11173 |
| &nbsp;&nbsp;&nbsp; Haverty Furniture Companies Inc. | 459 | 13724 |
| &nbsp;&nbsp; <sup>a</sup> Helen of Troy Ltd. | 495 | 54900 |
| &nbsp;&nbsp;&nbsp; Hibbett Inc. | 342 | 23331 |
| &nbsp;&nbsp;&nbsp; Installed Building Products Inc. | 495 | 42372 |
| &nbsp;&nbsp;&nbsp; Jack in the Box Inc. | 306 | 20878 |

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| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| JOANN Inc. | 243 | 693 |
| Johnson Outdoors Inc., A | 126 | 8331 |
| Kontoor Brands Inc. | 1422 | 56866 |
| La-Z-Boy Inc. | 1026 | 23413 |
| LCI Industries | 549 | 50755 |
| <sup>a</sup> LGI Homes Inc. | 423 | 39170 |
| Lifetime Brands Inc. | 297 | 2254 |
| <sup>a</sup> Liquidity Services Inc. | 585 | 8225 |
| <sup>a</sup> LL Flooring Holdings Inc. | 612 | 3439 |
| <sup>a</sup> Malibu Boats Inc., A | 414 | 22066 |
| Marine Products Corp. | 208 | 2448 |
| <sup>a</sup> MarineMax Inc. | 459 | 14330 |
| <sup>a</sup> MasterCraft Boat Holdings Inc. | 360 | 9313 |
| MDC Holdings Inc. | 918 | 29009 |
| <sup>a</sup> Modine Manufacturing Co. | 513 | 10188 |
| <sup>a</sup> Monarch Casino & Resort Inc. | 234 | 17992 |
| Monro Inc. | 657 | 29696 |
| Movado Group Inc. | 414 | 13352 |
| Murphy USA Inc. | 531 | 148436 |
| <sup>a</sup> National Vision Holdings Inc. | 1647 | 63838 |
| <sup>a</sup> OneWater Marine Inc., A | 252 | 7207 |
| Oxford Industries Inc. | 405 | 37738 |
| Papa John's International Inc. | 684 | 56300 |
| Patrick Industries Inc. | 351 | 21271 |
| <sup>a</sup> Perdoceo Education Corp. | 1710 | 23769 |
| PetMed Express Inc. | 477 | 8443 |
| <sup>a</sup> Portillo's Inc., A | 504 | 8225 |
| Rent-A-Center Inc. | 1395 | 31457 |
| <sup>a</sup> Revolve Group Inc. | 837 | 18632 |
| Rocky Brands Inc. | 135 | 3189 |
| <sup>a</sup> Sally Beauty Holdings Inc. | 2844 | 35607 |
| Shoe Carnival Inc. | 414 | 9899 |
| Shutterstock Inc. | 549 | 28943 |
| Signet Jewelers Ltd. | 1071 | 72828 |
| <sup>a</sup> Sleep Number Corp. | 468 | 12159 |
| Smith & Wesson Brands Inc. | 1170 | 10156 |
| Sonic Automotive Inc., A | 495 | 24389 |
| <sup>a</sup> Sonos Inc. | 2520 | 42588 |
| <sup>a</sup> Sportsman's Warehouse Holdings Inc. | 1152 | 10840 |
| Standard Motor Products Inc. | 531 | 18479 |
| Steven Madden Ltd. | 1854 | 59254 |
| Strategic Education Inc. | 522 | 40883 |
| <sup>a</sup> Stride Inc. | 900 | 28152 |
| Sturm Ruger & Co. Inc. | 468 | 23690 |
| Superior Group of Companies Inc. | 288 | 2897 |
| Texas Roadhouse Inc. | 1575 | 143246 |
| The Buckle Inc. | 864 | 39182 |
| The Cato Corp., A | 306 | 2855 |
| The Cheesecake Factory Inc. | 1323 | 41952 |
| <sup>a</sup> The Children's Place Inc. | 216 | 7867 |
| <sup>a</sup> The Container Store Group Inc. | 801 | 3452 |
| <sup>a</sup> The Lovesac Co. | 279 | 6141 |
| <sup>a</sup> The ODP Corp. | 936 | 42625 |
| <sup>a</sup> The ONE Group Hospitality Inc. | 513 | 3232 |
| <sup>a</sup> Tile Shop Holdings Inc. | 666 | 2917 |
| <sup>a</sup> Tilly's Inc., A | 486 | 4398 |
| <sup>a</sup> Torrid Holdings Inc. | 180 | 533 |
| <sup>a</sup> Tupperware Brands Corp. | 1143 | 4732 |
| <sup>a</sup> Universal Technical Institute Inc. | 576 | 3871 |
| <sup>a</sup> Vista Outdoor Inc. | 1143 | 27855 |
| Weber Inc., A | 486 | 3912 |
| Weyco Group Inc. | 117 | 2476 |
| Wingstop Inc. | 675 | 92893 |
| Winmark Corp. | 72 | 16980 |
| Wolverine World Wide Inc. | 1692 | 18494 |

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| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> XPEL Inc. | 423 | 25405 |
| &nbsp;&nbsp; <sup>a</sup> Zumiez Inc. | 351 | 7631 |
|  |  | 2636721 |
| &nbsp;&nbsp;&nbsp; **Consumer Staples 6.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Alico Inc. | 108 | 2578 |
| &nbsp;&nbsp; <sup>a</sup> BellRing Brands Inc. | 2079 | 53306 |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods Inc. | 396 | 21562 |
| &nbsp;&nbsp; <sup>a</sup> Central Garden & Pet Co. | 216 | 8089 |
| &nbsp;&nbsp; <sup>a</sup> Central Garden & Pet Co., A | 882 | 31576 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated Inc. | 117 | 59946 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. | 936 | 36073 |
| &nbsp;&nbsp; <sup>a</sup> elf Beauty Inc. | 810 | 44793 |
| &nbsp;&nbsp;&nbsp; Ingles Markets Inc., A | 387 | 37330 |
| &nbsp;&nbsp;&nbsp; Inter Parfums Inc. | 441 | 42565 |
| &nbsp;&nbsp;&nbsp; J & J Snack Foods Corp. | 153 | 22906 |
| &nbsp;&nbsp;&nbsp; John B Sanfilippo & Son Inc. | 207 | 16833 |
| &nbsp;&nbsp;&nbsp; Lancaster Colony Corp. | 423 | 83458 |
| &nbsp;&nbsp;&nbsp; Medifast Inc. | 315 | 36335 |
| &nbsp;&nbsp; <sup>a</sup> National Beverage Corp. | 621 | 28895 |
| &nbsp;&nbsp;&nbsp; Natural Grocers by Vitamin Cottage Inc. | 248 | 2267 |
| &nbsp;&nbsp;&nbsp; Nu Skin Enterprises Inc., A | 1314 | 55398 |
| &nbsp;&nbsp;&nbsp; PriceSmart Inc. | 531 | 32274 |
| &nbsp;&nbsp;&nbsp; SpartanNash Co. | 945 | 28577 |
| &nbsp;&nbsp; <sup>a</sup> Sprouts Farmers Market Inc. | 2538 | 82155 |
| &nbsp;&nbsp;&nbsp; Tootsie Roll Industries Inc. | 351 | 14942 |
| &nbsp;&nbsp; <sup>a</sup> United Natural Foods Inc. | 1143 | 44246 |
| &nbsp;&nbsp;&nbsp; Universal Corp. | 594 | 31369 |
| &nbsp;&nbsp; <sup>a</sup> USANA Health Sciences Inc. | 270 | 14364 |
| &nbsp;&nbsp;&nbsp; Vector Group Ltd. | 3447 | 40881 |
| &nbsp;&nbsp;&nbsp; Village Super Market Inc., A | 243 | 5659 |
| &nbsp;&nbsp;&nbsp; WD-40 Co. | 360 | 58036 |
| &nbsp;&nbsp;&nbsp; Weis Markets Inc. | 450 | 37031 |
|  |  | 973444 |
| &nbsp;&nbsp;&nbsp; **Energy 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Arch Resources Inc. | 252 | 35983 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. | 1332 | 57955 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 702 | 96040 |
| &nbsp;&nbsp;&nbsp; Comstock Resources Inc. | 1008 | 13820 |
| &nbsp;&nbsp;&nbsp; CONSOL Energy Inc. | 801 | 52065 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Co., A | 432 | 5180 |
| &nbsp;&nbsp;&nbsp; CVR Energy Inc. | 306 | 9590 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., A | 2880 | 67536 |
| &nbsp;&nbsp; <sup>a</sup> Peabody Energy Corp. | 1854 | 48983 |
| &nbsp;&nbsp;&nbsp; Ranger Oil Corp., A | 198 | 8005 |
| &nbsp;&nbsp;&nbsp; SFL Corp. Ltd. | 2304 | 21243 |
| &nbsp;&nbsp; <sup>a</sup> SilverBow Resources Inc. | 207 | 5854 |
| &nbsp;&nbsp;&nbsp; Sitio Royalties Corp., A | 1155 | 33331 |
| &nbsp;&nbsp;&nbsp; VAALCO Energy Inc. | 1557 | 7100 |
|  |  | 462685 |
| &nbsp;&nbsp;&nbsp; **Financials 11.1%** |  |  |
| &nbsp;&nbsp;&nbsp; 1st Source Corp. | 369 | 19590 |
| &nbsp;&nbsp;&nbsp; Arrow Financial Corp. | 297 | 10068 |
| &nbsp;&nbsp;&nbsp; Associated Banc-Corp | 3303 | 76266 |
| &nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio Exterior SA, E | 684 | 11081 |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust Inc., A | 3699 | 78308 |
| &nbsp;&nbsp;&nbsp; Brookline Bancorp Inc. | 1422 | 20121 |
| &nbsp;&nbsp;&nbsp; City Holding Co. | 297 | 27648 |
| &nbsp;&nbsp;&nbsp; Community Trust Bancorp Inc. | 306 | 14055 |
| &nbsp;&nbsp;&nbsp; Compass Diversified Holdings | 954 | 17391 |
| &nbsp;&nbsp; <sup>a</sup> Consumer Portfolio Services Inc. | 153 | 1354 |
| &nbsp;&nbsp;&nbsp; CVB Financial Corp. | 2250 | 57937 |
| &nbsp;&nbsp;&nbsp; Donegal Group Inc., A | 333 | 4729 |

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| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| <sup>a</sup> Donnelley Financial Solutions Inc. | 558 | 21567 |
| Dynex Capital Inc. | 666 | 8472 |
| Enact Holdings Inc. | 549 | 13242 |
| Enterprise Bancorp Inc. | 180 | 6354 |
| Essent Group Ltd. | 2250 | 87480 |
| <sup>a</sup> EZCORP Inc., A | 972 | 7922 |
| Farmers National Banc Corp. | 603 | 8514 |
| Financial Institutions Inc. | 288 | 7016 |
| First Business Financial Services Inc. | 135 | 4934 |
| First Community Bankshares Inc. | 297 | 10068 |
| First Merchants Corp. | 1062 | 43659 |
| GCM Grosvenor Inc., A | 711 | 5411 |
| <sup>a</sup> Genworth Financial Inc., A | 10476 | 55418 |
| German American Bancorp Inc. | 585 | 21820 |
| Guaranty Bancshares Inc. | 162 | 5612 |
| Hope Bancorp Inc. | 2205 | 28246 |
| Houlihan Lokey Inc. | 1170 | 101977 |
| Invesco Mortgage Capital Inc. | 639 | 8134 |
| Investors Title Co. | 27 | 3984 |
| Jackson Financial Inc., A | 1278 | 44462 |
| Kinsale Capital Group Inc. | 450 | 117684 |
| Lakeland Bancorp Inc. | 1296 | 22823 |
| Macatawa Bank Corp. | 441 | 4864 |
| Mercury General Corp. | 432 | 14774 |
| <sup>a</sup> Mr Cooper Group Inc. | 1071 | 42979 |
| National Western Life Group Inc., A | 63 | 17703 |
| Navient Corp. | 1890 | 31090 |
| NBT Bancorp Inc. | 981 | 42595 |
| <sup>a</sup> NerdWallet Inc., A | 495 | 4752 |
| Nexpoint Real Estate Finance Inc. | 126 | 2002 |
| Northfield Bancorp Inc. | 1080 | 16988 |
| Northwest Bancshares Inc. | 2628 | 36739 |
| OceanFirst Financial Corp. | 1035 | 21994 |
| Parke Bancorp Inc. | 180 | 3733 |
| Peoples Bancorp Inc. | 603 | 17035 |
| Peoples Financial Services Corp. | 126 | 6532 |
| Provident Bancorp Inc. | 153 | 1114 |
| RLI Corp. | 855 | 112236 |
| Safety Insurance Group Inc. | 306 | 25784 |
| Silvercrest Asset Management Group Inc., A | 153 | 2872 |
| Southern Missouri Bancorp Inc. | 171 | 7837 |
| Stewart Information Services Corp. | 531 | 22690 |
| Stock Yards Bancorp Inc. | 288 | 18714 |
| The First of Long Island Corp. | 477 | 8586 |
| Tompkins Financial Corp. | 324 | 25136 |
| TPG RE Finance Trust Inc. | 1620 | 11000 |
| <sup>a</sup> Trean Insurance Group Inc. | 270 | 1620 |
| TriCo Bancshares | 495 | 25240 |
| TrustCo Bank Corp. | 405 | 15224 |
| UMB Financial Corp. | 810 | 67651 |
| Victory Capital Holdings Inc., A | 297 | 7969 |
| West BanCorp Inc. | 351 | 8968 |
| Westamerica BanCorp | 522 | 30803 |
| <sup>a</sup> World Acceptance Corp. | 90 | 5935 |
|  |  | 1636506 |
| **Health Care 8.6%** |  |  |
| <sup>a</sup> Alkermes PLC | 2646 | 69140 |
| <sup>a</sup> AMN Healthcare Services Inc. | 1125 | 115673 |
| <sup>a</sup> AtriCure Inc. | 927 | 41140 |
| Atrion Corp. | 27 | 15105 |
| <sup>a</sup> Bioventus Inc., A | 513 | 1339 |
| <sup>a</sup> Cano Health Inc. | 2970 | 4069 |
| <sup>a</sup> Catalyst Pharmaceuticals Inc. | 2142 | 39841 |
| <sup>a</sup> Community Health Systems Inc. | 3096 | 13375 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp; <sup>a</sup> Computer Programs and Systems Inc. | 270 | 7349 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. | 594 | 52652 |
| &nbsp;&nbsp; <sup>a</sup> Corcept Therapeutics Inc. | 2169 | 44052 |
| &nbsp;&nbsp; <sup>a</sup> CorVel Corp. | 180 | 26159 |
| &nbsp;&nbsp; <sup>a</sup> Cross Country Healthcare Inc. | 873 | 23196 |
| &nbsp;&nbsp; <sup>a</sup> Eagle Pharmaceuticals Inc. | 234 | 6840 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. | 1188 | 30045 |
| &nbsp;&nbsp; <sup>a</sup> Enanta Pharmaceuticals Inc. | 396 | 18422 |
| &nbsp;&nbsp; <sup>a</sup> Figs Inc., A | 2214 | 14900 |
| &nbsp;&nbsp; <sup>a</sup> Inari Medical Inc. | 819 | 52056 |
| &nbsp;&nbsp; <sup>a</sup> Innoviva Inc. | 1539 | 20392 |
| &nbsp;&nbsp; <sup>a</sup> Intercept Pharmaceuticals Inc. | 423 | 5233 |
| &nbsp;&nbsp;&nbsp; iRadimed Corp. | 162 | 4583 |
| &nbsp;&nbsp; <sup>a</sup> Ironwood Pharmaceuticals Inc. | 3204 | 39698 |
| &nbsp;&nbsp;&nbsp; LeMaitre Vascular Inc. | 405 | 18638 |
| &nbsp;&nbsp; <sup>a</sup> LHC Group Inc. | 603 | 97499 |
| &nbsp;&nbsp; <sup>a</sup> Meridian Bioscience Inc. | 990 | 32878 |
| &nbsp;&nbsp; <sup>a</sup> Merit Medical Systems Inc. | 1098 | 77541 |
| &nbsp;&nbsp; <sup>a</sup> MiMedx Group Inc. | 2007 | 5579 |
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. | 306 | 18207 |
| &nbsp;&nbsp;&nbsp; National Research Corp. | 333 | 12421 |
| &nbsp;&nbsp; <sup>a</sup> Neogen Corp. | 3582 | 54554 |
| &nbsp;&nbsp; <sup>a</sup> Nevro Corp. | 369 | 14612 |
| &nbsp;&nbsp; <sup>a</sup> NextGen Healthcare Inc. | 936 | 17578 |
| &nbsp;&nbsp; <sup>a</sup> Organogenesis Holdings Inc. | 1143 | 3075 |
| &nbsp;&nbsp; <sup>a</sup> Orthofix Medical Inc. | 387 | 7945 |
| &nbsp;&nbsp;&nbsp; Patterson Companies Inc. | 2106 | 59031 |
| &nbsp;&nbsp; <sup>a</sup> Pediatrix Medical Group Inc. | 2061 | 30626 |
| &nbsp;&nbsp;&nbsp; Phibro Animal Health Corp., A | 522 | 7000 |
| &nbsp;&nbsp; <sup>a</sup> Prestige Consumer Healthcare Inc. | 1116 | 69862 |
| &nbsp;&nbsp;&nbsp; SIGA Technologies Inc. | 1089 | 8015 |
| &nbsp;&nbsp; <sup>a</sup> Tactile Systems Technology Inc. | 405 | 4649 |
| &nbsp;&nbsp; <sup>a</sup> The Joint Corp. | 333 | 4655 |
| &nbsp;&nbsp; <sup>a</sup> Treace Medical Concepts Inc. | 567 | 13035 |
| &nbsp;&nbsp; <sup>a</sup> UFP Technologies Inc. | 72 | 8488 |
| &nbsp;&nbsp; <sup>a</sup> Vanda Pharmaceuticals Inc. | 1089 | 8048 |
| &nbsp;&nbsp; <sup>a</sup> Vir Biotechnology Inc. | 1197 | 30296 |
| &nbsp;&nbsp;&nbsp; Zynex Inc. | 549 | 7637 |
|  |  | 1257128 |
| &nbsp;&nbsp;&nbsp; **Industrials 21.8%** |  |  |
| &nbsp;&nbsp;&nbsp; ABM Industries Inc. | 1296 | 57568 |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 2043 | 11420 |
| &nbsp;&nbsp; <sup>a</sup> Air Transport Services Group Inc. | 1134 | 29461 |
| &nbsp;&nbsp;&nbsp; Alamo Group Inc. | 198 | 28037 |
| &nbsp;&nbsp;&nbsp; Allied Motion Technologies Inc. | 306 | 10652 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies Inc. | 963 | 121367 |
| &nbsp;&nbsp; <sup>a</sup> Atkore Inc. | 846 | 95953 |
| &nbsp;&nbsp; <sup>a</sup> Atlas Air Worldwide Holdings Inc. | 585 | 58968 |
| &nbsp;&nbsp;&nbsp; Barnes Group Inc. | 495 | 20221 |
| &nbsp;&nbsp;&nbsp; Barrett Business Services Inc. | 108 | 10074 |
| &nbsp;&nbsp; <sup>a</sup> BlueLinx Holdings Inc. | 180 | 12800 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 918 | 63039 |
| &nbsp;&nbsp;&nbsp; Brady Corp., A | 1251 | 58922 |
| &nbsp;&nbsp; <sup>a</sup> Casella Waste Systems Inc., A | 972 | 77089 |
| &nbsp;&nbsp; <sup>a</sup> Cimpress PLC | 387 | 10685 |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA Inc. | 702 | 80786 |
| &nbsp;&nbsp;&nbsp; CompX International Inc. | 40 | 739 |
| &nbsp;&nbsp; <sup>a</sup> Concrete Pumping Holdings Inc. | 288 | 1685 |
| &nbsp;&nbsp;&nbsp; Costamare Inc. | 1125 | 10440 |
| &nbsp;&nbsp;&nbsp; Covenant Logistics Group Inc. | 288 | 9956 |
| &nbsp;&nbsp;&nbsp; CRA International Inc. | 144 | 17630 |
| &nbsp;&nbsp;&nbsp; CSW Industrials Inc. | 288 | 33388 |
| &nbsp;&nbsp; <sup>a</sup> Daseke Inc. | 801 | 4558 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp. | 1044 | 17727 |

---

------

---

| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| <sup>a</sup> Distribution Solutions Group Inc. | 117 | 4313 |
| <sup>a</sup> DXP Enterprises Inc. | 315 | 8678 |
| Eagle Bulk Shipping Inc. | 225 | 11237 |
| EMCOR Group Inc. | 513 | 75980 |
| Encore Wire Corp. | 315 | 43331 |
| Ennis Inc. | 630 | 13961 |
| ESCO Technologies Inc. | 288 | 25212 |
| Exponent Inc. | 1206 | 119503 |
| Forward Air Corp. | 639 | 67025 |
| <sup>a</sup> Franklin Covey Co. | 288 | 13470 |
| Franklin Electric Co. Inc. | 1035 | 82541 |
| Global Industrial Co. | 333 | 7835 |
| <sup>a</sup> GMS Inc. | 954 | 47509 |
| H&E Equipment Services Inc. | 657 | 29828 |
| Healthcare Services Group Inc. | 1611 | 19332 |
| Heartland Express Inc. | 1053 | 16153 |
| Heidrick & Struggles International Inc. | 558 | 15607 |
| <sup>a</sup> Heritage-Crystal Clean Inc. | 432 | 14031 |
| Hillenbrand Inc. | 1449 | 61829 |
| HNI Corp. | 1071 | 30449 |
| <sup>a</sup> Hudson Technologies Inc. | 711 | 7195 |
| <sup>a</sup> IBEX Holdings Ltd. | 171 | 4249 |
| ICF International Inc. | 423 | 41898 |
| Insperity Inc. | 810 | 92016 |
| Interface Inc. | 1125 | 11104 |
| Kadant Inc. | 252 | 44763 |
| Karat Packaging Inc. | 99 | 1423 |
| Kelly Services Inc., A | 792 | 13385 |
| Kforce Inc. | 576 | 31582 |
| Kimball International Inc., B | 828 | 5382 |
| Korn Ferry | 1485 | 75171 |
| <sup>a</sup> Legalzoom.com Inc. | 1845 | 14280 |
| Luxfer Holdings PLC | 612 | 8397 |
| Marten Transport Ltd. | 1332 | 26347 |
| Matson Inc. | 837 | 52321 |
| Matthews International Corp., A | 522 | 15890 |
| McGrath RentCorp | 531 | 52431 |
| Miller Industries Inc. | 216 | 5759 |
| MillerKnoll Inc. | 1656 | 34793 |
| Mueller Industries Inc. | 1125 | 66375 |
| Mueller Water Products Inc., A | 2970 | 31957 |
| National Presto Industries Inc. | 99 | 6778 |
| NL Industries Inc. | 207 | 1410 |
| <sup>a</sup> NV5 Global Inc. | 270 | 35726 |
| Omega Flex Inc. | 90 | 8399 |
| <sup>a</sup> PAM Transportation Services Inc. | 153 | 3963 |
| Pitney Bowes Inc. | 2574 | 9781 |
| Preformed Line Products Co. | 72 | 5997 |
| <sup>a</sup> Radiant Logistics Inc. | 909 | 4627 |
| Resources Connection Inc. | 909 | 16707 |
| Rush Enterprises Inc., B | 144 | 8103 |
| Rush Enterprises Inc., A | 837 | 43758 |
| Safe Bulkers Inc. | 1179 | 3431 |
| <sup>a</sup> Saia Inc. | 648 | 135873 |
| Simpson Manufacturing Co. Inc. | 981 | 86975 |
| Standex International Corp. | 252 | 25807 |
| Steelcase Inc., A | 1926 | 13617 |
| Tennant Co. | 459 | 28261 |
| The Brink's Co. | 846 | 45439 |
| The Gorman-Rupp Co. | 378 | 9684 |
| <sup>a</sup> Titan Machinery Inc. | 414 | 16448 |
| <sup>a</sup> Transcat Inc. | 135 | 9567 |
| Triton International Ltd. | 1314 | 90377 |
| <sup>a</sup> TrueBlue Inc. | 648 | 12688 |
| UFP Industries Inc. | 1314 | 104134 |

---

------

---

| | | |
|:---|:---|:---|
| FRANKLIN TEMPLETON ETF TRUST |  |  |
| SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |  |  |
| &nbsp;&nbsp;&nbsp; UniFirst Corp. | 306 | 59055 |
| &nbsp;&nbsp;&nbsp; Universal Logistics Holdings Inc. | 198 | 6621 |
| &nbsp;&nbsp; <sup>a</sup> V2X Inc. | 234 | 9662 |
| &nbsp;&nbsp;&nbsp; Veritiv Corp. | 288 | 35052 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies Inc., A | 702 | 102653 |
| &nbsp;&nbsp;&nbsp; Werner Enterprises Inc. | 1854 | 74642 |
|  |  | 3202942 |
| &nbsp;&nbsp;&nbsp; **Information Technology 11.6%** |  |  |
| &nbsp;&nbsp;&nbsp; A10 Networks Inc. | 1773 | 29485 |
| &nbsp;&nbsp;&nbsp; ADTRAN Holdings Inc. | 1143 | 21477 |
| &nbsp;&nbsp;&nbsp; American Software Inc., A | 648 | 9513 |
| &nbsp;&nbsp; <sup>a</sup> Appfolio Inc., A | 396 | 41730 |
| &nbsp;&nbsp; <sup>a</sup> Aviat Networks Inc. | 216 | 6737 |
| &nbsp;&nbsp; <sup>a</sup> Avid Technology Inc. | 774 | 20581 |
| &nbsp;&nbsp;&nbsp; Badger Meter Inc. | 666 | 72614 |
| &nbsp;&nbsp;&nbsp; Belden Inc. | 432 | 31061 |
| &nbsp;&nbsp; <sup>a</sup> Blackbaud Inc. | 864 | 50855 |
| &nbsp;&nbsp; <sup>a</sup> Brightcove Inc. | 846 | 4425 |
| &nbsp;&nbsp; <sup>a</sup> Calix Inc. | 1143 | 78215 |
| &nbsp;&nbsp; <sup>a</sup> Cambium Networks Corp. | 243 | 5266 |
| &nbsp;&nbsp;&nbsp; Cass Information Systems Inc. | 144 | 6598 |
| &nbsp;&nbsp; <sup>a</sup> Clearfield Inc. | 243 | 22876 |
| &nbsp;&nbsp; <sup>a</sup> CommVault Systems Inc. | 1098 | 68998 |
| &nbsp;&nbsp; <sup>a</sup> Consensus Cloud Solutions Inc. | 387 | 20805 |
| &nbsp;&nbsp;&nbsp; CSG Systems International Inc. | 765 | 43758 |
| &nbsp;&nbsp; <sup>a</sup> eGain Corp. | 414 | 3738 |
| &nbsp;&nbsp; <sup>a</sup> Enfusion Inc., A | 477 | 4613 |
| &nbsp;&nbsp; <sup>a</sup> ePlus Inc. | 558 | 24708 |
| &nbsp;&nbsp;&nbsp; EVERTEC Inc. | 1206 | 39050 |
| &nbsp;&nbsp; <sup>a</sup> ExlService Holdings Inc. | 576 | 97592 |
| &nbsp;&nbsp; <sup>a</sup> Extreme Networks Inc. | 2583 | 47295 |
| &nbsp;&nbsp; <sup>a</sup> FARO Technologies Inc. | 315 | 9264 |
| &nbsp;&nbsp; <sup>a</sup> Harmonic Inc. | 954 | 12497 |
| &nbsp;&nbsp;&nbsp; Information Services Group Inc. | 603 | 2774 |
| &nbsp;&nbsp; <sup>a</sup> Insight Enterprises Inc. | 675 | 67682 |
| &nbsp;&nbsp; <sup>a</sup> International Money Express Inc. | 747 | 18204 |
| &nbsp;&nbsp; <sup>a</sup> KnowBe4 Inc., A | 756 | 18734 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries Inc. | 1323 | 58556 |
| &nbsp;&nbsp;&nbsp; Methode Electronics Inc. | 720 | 31946 |
| &nbsp;&nbsp; <sup>a</sup> Napco Security Technologies Inc. | 657 | 18054 |
| &nbsp;&nbsp; <sup>a</sup> NETGEAR Inc. | 504 | 9127 |
| &nbsp;&nbsp; <sup>a</sup> NetScout Systems Inc. | 1350 | 43889 |
| &nbsp;&nbsp; <sup>a</sup> Novanta Inc. | 846 | 114946 |
| &nbsp;&nbsp; <sup>a</sup> OneSpan Inc. | 729 | 8158 |
| &nbsp;&nbsp; <sup>a</sup> OSI Systems Inc. | 369 | 29343 |
| &nbsp;&nbsp;&nbsp; PC Connection Inc. | 234 | 10975 |
| &nbsp;&nbsp;&nbsp; Power Integrations Inc. | 1323 | 94886 |
| &nbsp;&nbsp;&nbsp; Progress Software Corp. | 1035 | 52216 |
| &nbsp;&nbsp; <sup>a</sup> Qualys Inc. | 963 | 108077 |
| &nbsp;&nbsp; <sup>a</sup> Rambus Inc. | 1071 | 38363 |
| &nbsp;&nbsp; <sup>a</sup> Rimini Street Inc. | 1170 | 4458 |
| &nbsp;&nbsp; <sup>a</sup> SPS Commerce Inc. | 864 | 110964 |
| &nbsp;&nbsp; <sup>a</sup> Squarespace Inc., A | 576 | 12770 |
| &nbsp;&nbsp;&nbsp; The Hackett Group Inc. | 603 | 12283 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology Inc. | 2772 | 59792 |
| &nbsp;&nbsp; <sup>a</sup> Vishay Precision Group Inc. | 216 | 8348 |
|  |  | 1708296 |
| &nbsp;&nbsp;&nbsp; **Materials 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | 621 | 75830 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | 2439 | 117804 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International Inc. | 630 | 25830 |
| &nbsp;&nbsp;&nbsp; Greif Inc., B | 135 | 10561 |
| &nbsp;&nbsp;&nbsp; Greif Inc., A | 621 | 41644 |

---

------

---

| | | |
|:---|:---|:---|
|  | FRANKLIN TEMPLETON ETF TRUST | FRANKLIN TEMPLETON ETF TRUST |
|  | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) | SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued) |
| Innospec Inc. | 405 | 41658 |
| Kronos Worldwide Inc. | 477 | 4484 |
| Mativ Holdings Inc. | 891 | 18622 |
| Myers Industries Inc. | 846 | 18807 |
| Olympic Steel Inc. | 180 | 6044 |
| Ramaco Resources Inc. | 360 | 3164 |
| <sup>a</sup> Resolute Forest Products Inc. | 495 | 10687 |
| Ryerson Holding Corp. | 378 | 11438 |
| Sensient Technologies Corp. | 873 | 63659 |
| Stepan Co. | 414 | 44075 |
| SunCoke Energy Inc. | 1584 | 13670 |
| Sylvamo Corp. | 396 | 19242 |
| Tredegar Corp. | 558 | 5703 |
| Warrior Met Coal Inc. | 837 | 28994 |
| Worthington Industries Inc. | 603 | 29975 |
|  |  | 591891 |
| **Real Estate 4.7%** |  |  |
| Agree Realty Corp. | 882 | 62560 |
| American Assets Trust Inc. | 999 | 26473 |
| Brandywine Realty Trust | 3582 | 22029 |
| Broadstone Net Lease Inc. | 3519 | 57043 |
| CareTrust REIT Inc. | 2178 | 40467 |
| City Office REIT Inc. | 684 | 5732 |
| Community Healthcare Trust Inc. | 477 | 17077 |
| Corporate Office Properties Trust | 2466 | 63968 |
| Douglas Elliman Inc. | 1620 | 6593 |
| Elme Communities | 1701 | 30278 |
| Four Corners Property Trust Inc. | 1359 | 35239 |
| Franklin Street Properties Corp. | 2205 | 6020 |
| Industrial Logistics Properties Trust | 792 | 2590 |
| LTC Properties Inc. | 702 | 24942 |
| LXP Industrial Trust | 6156 | 61683 |
| Marcus & Millichap Inc. | 549 | 18913 |
| PotlatchDeltic Corp. | 1494 | 65721 |
| RE/MAX Holdings Inc., A | 477 | 8891 |
| Retail Opportunity Investments Corp. | 1224 | 18397 |
| Tanger Factory Outlet Centers Inc. | 2277 | 40849 |
| <sup>a</sup> The GEO Group Inc. | 2385 | 26116 |
| The Necessity Retail REIT Inc. | 2682 | 15904 |
| The RMR Group Inc., A | 351 | 9916 |
| Urstadt Biddle Properties Inc., A | 540 | 10233 |
| Whitestone REIT | 1062 | 10238 |
|  |  | 687872 |
| **Utilities 7.9%** |  |  |
| American States Water Co. | 927 | 85794 |
| Artesian Resources Corp., A | 180 | 10544 |
| Avista Corp. | 1764 | 78216 |
| Black Hills Corp. | 1422 | 100023 |
| Brookfield Infrastructure Corp., A | 1494 | 58117 |
| California Water Service Group | 1332 | 80772 |
| Clearway Energy Inc., A | 702 | 21004 |
| Clearway Energy Inc., C | 1611 | 51343 |
| Global Water Resources Inc. | 278 | 3692 |
| MGE Energy Inc. | 837 | 58925 |
| Northwest Natural Holding Co. | 747 | 35550 |
| NorthWestern Corp. | 1215 | 72098 |
| ONE Gas Inc. | 864 | 65422 |
| Otter Tail Corp. | 792 | 46498 |
| PNM Resources Inc. | 2034 | 99239 |
| SJW Group | 594 | 48227 |
| South Jersey Industries Inc. | 1881 | 66832 |
| Southwest Gas Holdings Inc. | 1575 | 97461 |
| Spire Inc. | 819 | 56396 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; The York Water Co. | 297.0 | 13359 |
| &nbsp;&nbsp;&nbsp; Unitil Corp. | 351.0 | 18027 |
|  |  | 1167539 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $14,400,899)** |  | 14707728 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $14,400,899) 100.0%** |  | 14707728 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  | 6390 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  | $14714118 |
| <sup>†</sup>Rounds to less than 0.1% of net assets. |  |  |
| <sup>a</sup>Non-income producing. |  |  |

---

 **Abbreviations**<br>**Selected Portfolio**<br>**REIT** – Real Estate Investment Trust

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** | | |
| &nbsp;&nbsp;&nbsp; **Franklin U.S. Treasury Bond ETF** | **Country** | **Principal Amount\*** |  |
| &nbsp;&nbsp;&nbsp; **U.S. Government & Agency Securities 98.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bond, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | United States | 8128000 | $5150803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 2/15/52 | United States | 29800000 | 20734281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/49 | United States | 4980000 | 4009873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 5/15/42 | United States | 18978000 | 15974509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/41 | United States | 17000000 | 14701680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 8/15/39 | United States | 21000000 | 22285020 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Note, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 7/31/25 | United States | 16900000 | 15252910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 1/31/26 | United States | 15900000 | 14149137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/30/27 | United States | 16151000 | 13617943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 6/30/27 | United States | 14175000 | 12126823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 12/31/27 | United States | 8100000 | 6862851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | United States | 5450000 | 4291236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 8/31/26 | United States | 1795000 | 1589697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 1/31/28 | United States | 10000000 | 8505469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/29/28 | United States | 5367000 | 4648116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | United States | 8210000 | 6693395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 8/31/24 | United States | 2670000 | 2528052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 4/30/28 | United States | 15400000 | 13364312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 8/15/31 | United States | 5900000 | 4785914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | United States | 2330000 | 1897084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 9/30/24 | United States | 15010000 | 14255396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 11/30/24 | United States | 14631000 | 13847441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | United States | 2600000 | 2256820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 7/31/24 | United States | 7080000 | 6773292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 7/31/26 | United States | 6500000 | 6012500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | United States | 10119000 | 8587315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 9/30/24 | United States | 9390000 | 9012566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 11/30/24 | United States | 17413000 | 16670907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 10/31/24 | United States | 10600000 | 10182625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/29/24 | United States | 43189000 | 42073847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | United States | 11000000 | 10257930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 7/31/29 | United States | 23000000 | 21183809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | United States | 1764000 | 1661536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.435%, 7/31/24 | United States | 25000000 | 24972644 |
| &nbsp;&nbsp;&nbsp; United States Treasury Inflation-Indexed Notes, 0.50%, 1/15/28 | United States | 9114360 | 8574756 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Securities (Cost $411,966,262)** |  |  | 389492489 |
| &nbsp;&nbsp;&nbsp; **Total Investments before Short-Term Investments (Cost $411,966,262)** |  |  | 389492489 |
| &nbsp;&nbsp;&nbsp; **Short-Term Investments 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Money Market Funds 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **United States 1.3%** |  |  |  |
| <sup>a,b</sup> Institutional Fiduciary Trust Portfolio, 3.84% | United States | 5358708 | 5358708 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $5,358,708)** |  |  | 5358708 |
| &nbsp;&nbsp;&nbsp; **Total Investments (Cost $417,324,970) 99.4%** |  |  | 394851197 |
| &nbsp;&nbsp;&nbsp; **Other Assets, less Liabilities 0.6%** |  |  | 2354730 |
| &nbsp;&nbsp;&nbsp; **Net Assets 100.0%** |  |  | $397205927 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br> <sup>a</sup>See Note 3 regarding investments in affiliated management investment companies.<br> <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end.

------

---

| | | | |
|:---|:---|:---|:---|
| **FRANKLIN TEMPLETON ETF TRUST** |  |  |  |
| **Schedule of Investments, December 31, 2022 (unaudited)** | **Schedule of Investments, December 31, 2022 (unaudited)** |  |  |
|  |  | **Principal** |  |
| &nbsp;&nbsp;&nbsp; **Franklin Ultra Short Bond ETF** | **Country** | **Amount\*** |  |
| &nbsp;&nbsp;&nbsp; **Corporate Bonds & Notes 75.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Aerospace & Defense 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Boeing Co., 1.167%, 2/04/23 | United States | 100000 | $99619 |
| &nbsp;&nbsp;&nbsp; **Auto Manufacturers 5.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co. Inc., 1.70%, 8/18/23 | United States | 100000 | 97731 |
| &nbsp;&nbsp; <sup>a</sup> Hyundai Capital America, 144A, 2.375%, 2/10/23 | United States | 100000 | 99779 |
|  |  |  | 197510 |
| &nbsp;&nbsp;&nbsp; **Banks 27.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Bank of Montreal, 4.964%, 3/10/23 | Canada | 100000 | 100042 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce, 5.122%, 3/17/23 | Canada | 100000 | 100118 |
| &nbsp;&nbsp;&nbsp; Citigroup Inc., 5.75%, 5/17/24 | United States | 100000 | 100163 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., 5.442% to 11/23/22, FRN thereafter, 2/23/23 | United States | 100000 | 100054 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Sr. Unsecured, 5.215% to 1/23/23, FRN thereafter, 7/23/24 | United States | 150000 | 150247 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley, 0.731% to 4/05/23, FRN thereafter, 4/05/24 | United States | 150000 | 147864 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group Inc., senior note, 4.819% to 10/18/22, FRN thereafter, |  |  |  |
| 1/17/23 | Japan | 50000 | 50000 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Sr. Unsecured, MTN, 4.285%, 9/13/24 | Canada | 100000 | 98894 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp., 5.506% to 2/27/23, FRN thereafter, 2/26/24 | Australia | 150000 | 150246 |
|  |  |  | 997628 |
| &nbsp;&nbsp;&nbsp; **Banks 5.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., 4.64%, 4/22/25 | United States | 100000 | 98765 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp., 4.679%, 6/09/25 | United States | 100000 | 97945 |
|  |  |  | 196710 |
| &nbsp;&nbsp;&nbsp; **Biotechnology 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC, 0.75%, 9/02/23 | United States | 50000 | 48452 |
| &nbsp;&nbsp;&nbsp; **Chemicals 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp; LYB International Finance B.V., 4.00%, 7/15/23 | Netherlands | 28000 | 27793 |
| &nbsp;&nbsp;&nbsp; **Diversified Financial Services 5.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp; American Express Co., 5.21%, 8/03/23 | United States | 150000 | 150075 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp., 2.60%, 5/11/23 | United States | 50000 | 49601 |
|  |  |  | 199676 |
| &nbsp;&nbsp;&nbsp; **Electric Utilities 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Vistra Operations Co. LLC, senior secured note, first lien, 144A, 3.55%, 7/15/24 | United States | 50000 | 47984 |
| &nbsp;&nbsp;&nbsp; **Entertainment 1.3%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Warnermedia Holdings Inc., 144A, 3.428%, 3/15/24 | United States | 50000 | 48562 |
| &nbsp;&nbsp;&nbsp; **Healthcare-Products 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc., 0.797%, 10/18/23 | United States | 100000 | 96811 |
| &nbsp;&nbsp;&nbsp; **Insurance 2.6%** |  |  |  |
| &nbsp;&nbsp; <sup>a</sup> Brighthouse Financial Global Funding, secured note, Secured, 144A, 1.20%, 12/15/23 | United States | 100000 | 95859 |
| &nbsp;&nbsp;&nbsp; **Internet 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; eBay Inc., senior note, 5.285%, 1/30/23 | United States | 100000 | 100017 |
| &nbsp;&nbsp;&nbsp; **Miscellaneous Manufacturing 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp; General Electric Co., 5.769% to 9/16/18, FRN thereafter, 3/15/23 | United States | 50000 | 50005 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp., Sr. Unsecured, 3.65%, 6/15/24 | United States | 100000 | 97902 |
|  |  |  | 147907 |
| &nbsp;&nbsp;&nbsp; **Pipelines 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, 3.60%, 2/01/23 | United States | 50000 | 49906 |
| &nbsp;&nbsp; <sup>a</sup> Kinder Morgan Inc., 144A, 5.625%, 11/15/23 | United States | 50000 | 50041 |
|  |  |  | 99947 |
| &nbsp;&nbsp;&nbsp; **Retail 1.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Walgreens Boots Alliance Inc., Sr. Unsecured, 0.95%, 11/17/23 | United States | 50000 | 48136 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br>SCHEDULE OF INVESTMENTS, December 31, 2022 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Telecommunications 5.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;AT&T Inc., 5.915%, 6/12/24 | United States | 100000 | 100737 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc., 5.706% to 2/15/23, FRN, 5/15/25 | United States | 100000 | 100846 |
|  |  |  | 201583 |
| &nbsp;&nbsp;&nbsp;**Transportation 2.7%** |  |  |  |
| <sup>a</sup> Penske Truck Leasing Co. LP / PTL Finance Corp., senior note, 144A, 2.70%, 3/14/23 | United States | 100000 | 99475 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds & Notes (Cost $2,780,791)** |  |  | 2753669 |
| &nbsp;&nbsp;&nbsp;**Asset-Backed Securities 5.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust, Series 2017-A5, A5, 4.981%, 4/22/26 | United States | 100000 | 100069 |
| &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust, Series 2017-A5, A5, 4.918%, 12/15/26 | United States | 100000 | 100049 |
| &nbsp;&nbsp;&nbsp;**Total Asset-Backed Securities (Cost $200,922)** |  |  | 200118 |
| &nbsp;&nbsp;&nbsp;**Total Investments before Short-Term Investments (Cost $2,981,713)** |  |  | 2953787 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments 18.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money Market Funds 18.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**United States 18.9%** |  |  |  |
| <sup>b,c</sup> Institutional Fiduciary Trust Portfolio, 3.84% | United States | 693811 | 693811 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (Cost $693,811)** |  |  | 693811 |
| &nbsp;&nbsp;&nbsp;**Total Investments (Cost $3,675,524) 99.4%** |  |  | 3647598 |
| &nbsp;&nbsp;&nbsp;**Other Assets, less Liabilities 0.6%** |  |  | 21350 |
| &nbsp;&nbsp;&nbsp;**Net Assets 100.0%** |  |  | $3668948 |

---

\*The principal amount is stated in U.S. dollars unless otherwise indicated.<br><sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional<br>buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2022, the value of was $441,700, representing 12.0% of net assets.<br><sup>b</sup>See Note 3 regarding investments in affiliated management investment companies.<br><sup>c</sup>The rate shown is the annualized seven-day effective yield at period end.<br>**Abbreviations**<br>**Selected Portfolio**<br>**FRN** – Floating Rate Note

------

Franklin Templeton ETF Trust

Notes to Schedules of Investments (unaudited)

 **1. ORGANIZATION**

Franklin Templeton ETF Trust (Trust) is registered under the Investment Company Act of 1940 (1940 Act) as an open-end management investment company, consisting of forty-seven separate funds (Funds) and applies the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP). Franklin Systematic Style Premia ETF's Schedule of Investments have been consolidated and include the accounts of the Fund, Franklin Systematic Style Premia ETF, and the FLSP Holdings Corporation (Cayman Blocker). All intercompany transactions and Franklin Systematic Style Premia ETF's investments in their FLSP Holdings Corporation (Cayman Blocker) are limited to 25% of consolidated assets. Each of the Funds are an exchange traded fund (ETF). The Funds seek to provide the investment results that closely correspond, before fees and expenses, to the performance of each Fund's corresponding underlying index, with the exception of Franklin High Yield Corporate ETF, Franklin Dynamic Municipal Bond ETF, Franklin International Aggregate Bond ETF, Franklin Investment Grade Corporate ETF, Franklin Municipal Green Bond ETF, Franklin Senior Loan ETF, Franklin Systematic Style Premia ETF, Franklin U.S. Core Bond ETF, Franklin U.S. Low Volatility ETF, Franklin U.S. Treasury Bond ETF, Franklin Disruptive Commerce ETF, Franklin Genomic Advancements ETF, Franklin Intelligent Machines ETF and Franklin Ultra Short Bond ETF, which are actively managed, thus they are not designed to track an index. The reorganization of mutual fund BrandywineGLOBAL-Dynamic US Large Cap Value Fund into BrandywineGLOBAL-Dynamic US Large Cap Value ETF was effective after the market close on October 28, 2022. Effective December 14, 2022, the Trust began offering shares of ClearBridge Sustainable Infrastructure ETF. Each of the Funds are an exchange traded fund (ETF) and are actively managed, thus they are not designed to track an index.

 **2. FINANCIAL INSTRUMENT VALUATION**

The Funds' investments in financial instruments are carried at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Funds calculate the net asset value (NAV) per share as of 4 p.m. Eastern time each day the New York Stock Exchange (NYSE) is open for trading. Under compliance policies and procedures approved by the Trust's Board of Trustees (the Board), the Funds' administrator has responsibility for oversight of valuation, including leading the cross-functional Valuation Committee (VC).

The Funds may utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.

Equity securities, exchange traded funds and derivative financial instruments listed on an exchange or on the NASDAQ National Market System are valued at the last quoted sale price or the official closing price of the day, respectively. Foreign equity securities are valued as of the close of trading on the foreign stock exchange on which the security is primarily traded or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. London time on the day that the value of the security is determined. Over-the-counter (OTC) securities are valued within the range of the most recent quoted bid and ask prices. Securities that trade in multiple markets or on multiple exchanges are valued according to the broadest and most representative market. Certain equity securities are valued based upon fundamental characteristics or relationships to similar securities.

Debt securities generally trade in the OTC market rather than on a securities exchange. The Funds' pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services also utilize proprietary valuation models which may consider market characteristics such as benchmark yield curves, credit spreads, estimated default rates, anticipated market interest rate volatility, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair value. Securities denominated in a foreign currency are converted into their U.S. dollar

------

equivalent at the foreign exchange rate in effect at 4 p.m. London time on the date that the values of the foreign debt securities are determined, for all funds except the Franklin High Yield Corporate ETF, Franklin International Aggregate Bond ETF, Franklin Investment Grade Corporate ETF , Franklin Senior Loan ETF and Franklin U.S. Treasury Bond ETF which uses the foreign exchange rate in effect at 4 p.m. Eastern time.

Investments in open-end mutual funds are valued at the closing NAV.

Certain derivative financial instruments are centrally cleared or trade in the OTC market. The Funds' pricing services use various techniques including industry standard option pricing models and proprietary discounted cash flow models to determine the fair value of those instruments. The Funds' net benefit or obligation under the derivative contract, as measured by the fair value of the contract, is included in net assets.

The Funds have procedures to determine the fair value of financial instruments for which market prices are not reliable or readily available. Under these procedures, the Funds primarily employ a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. An income-based valuation approach may also be used in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed.

Trading in securities on foreign securities stock exchanges and OTC markets may be completed before 4 p.m. Eastern time. In addition, trading in certain foreign markets may not take place on every Funds' business day. Occasionally, events occur between the time at which trading in a foreign security is completed and 4 p.m. Eastern time that might call into question the reliability of the value of a portfolio security held by the Fund. As a result, differences may arise between the value of the Funds' portfolio securities as determined at the foreign market close and the latest indications of value at 4 p.m. Eastern time. The VC monitors price movements for significant events following the close of trading in foreign stock markets through a series of country specific market proxies (such as baskets of American Depositary Receipts, futures contracts and exchange traded funds). These price movements are measured against established trigger thresholds for each specific market proxy to assist in determining if an event has occurred that may call into question the reliability of the values of the foreign securities held by the Funds. If such an event occurs, the securities may be valued using fair value procedures, which may include the use of independent pricing services.

When the last day of the reporting period is a non-business day, certain foreign markets may be open on those days that the Funds' NAV is not calculated, which could result in differences between the value of the Funds' portfolio securities on the last business day and the last calendar day of the reporting period. Any significant security valuation changes due to an open foreign market are adjusted and reflected by the Funds for financial reporting purposes.

 **3. INVESTMENTS IN AFFILIATED MANAGEMENT INVESTMENT COMPANIES**

Certain or all Funds invest in one or more affiliated management investment companies. As defined in the 1940 Act, an investment is deemed to be a "Controlled Affiliate" of a fund when a fund owns, either directly or indirectly, 25% or more of the affiliated fund's outstanding shares or has the power to exercise control over management or policies of such fund. The Funds do not invest for purposes of exercising a controlling influence over the management or policies. During the period ended December 31, 2022, investments in affiliated management investment companies were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **Number** |  |
|  | | | | | | **of Shares** |  |
|  | | | | | | **Held at** |  |
|  | | | | | | **End of Investment** | **End of Investment** |
| | <br>**Value at**<br> **Beginning**<br> **of Period** | <br>**Purchases** | <br>**Sales** | <br> **Net Change in**<br> **Unrealized**<br> **Realized Appreciation**<br> **Gain (Loss) (Depreciation)** | <br>**Value at**<br> **End of**<br> **Period** | **Period** | **Income** |
| **Franklin Exponential** |  |  |  |  |  |  |  |
| **Data ETF** |  |  |  |  |  |  |  |
| **Non-Controlled** |  |  |  |  |  |  | **Dividend** |
| **Affiliates** |  |  |  |  |  |  | **Income** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | |  |  | | **Number** |  |
|  | | | |  | **Net Change in** | | **of Shares** |  |
|  | | | |  | **Unrealized** | | **Held at** |  |
|  | | | | **Realized** | **Appreciation** | | **End of Investment** | **End of Investment** |
| | <br>**Value at**<br>**Beginning**<br>**of Period** | <br>**Purchases** | <br>**Sales** | **Gain (Loss) (Depreciation)** | **Gain (Loss) (Depreciation)** | <br>**Value at**<br>**End of**<br>**Period** | **Period** | **Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $591 | $216744 | $(191999) | $— | $— | $25336 | 25336 | $— |
| **Franklin FTSE** |  |  |  |  |  |  |  |  |
| **Japan ETF** |  |  |  |  |  |  |  |  |
| **Non-Controlled** |  |  |  |  |  |  |  | **Dividend** |
| **Affiliates** |  |  |  |  |  |  |  | **Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $251746 | $16607402 | $(16652107) | $— | $— | $207041 | 207041 | $— |
| **Franklin FTSE Japan** |  |  |  |  |  |  |  |  |
| **Hedged ETF** |  |  |  |  |  |  |  |  |
| **Non-Controlled** |  |  |  |  |  |  |  | **Dividend** |
| **Affiliates** |  |  |  |  |  |  |  | **Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $695758 | $9287041 | $(9982799) | $— | $— | $— |  | $— |
| **Franklin FTSE United** |  |  |  |  |  |  |  | **Income** |
| **Kingdom ETF** |  |  |  |  |  |  |  | **from** |
| **Non-Controlled** |  |  |  |  |  |  |  | **Securities** |
| **Affiliates** |  |  |  |  |  |  |  | **loaned** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $620830 | $9083611 | $(9407116) | $— | $— | $297325 | 297325 | $3554 |
| **Franklin U.S. Core** |  |  |  |  |  |  |  |  |
| **Bond ETF** |  |  |  |  |  |  |  |  |
| **Non-Controlled** |  |  |  |  |  |  |  | **Dividend** |
| **Affiliates** |  |  |  |  |  |  |  | **Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $48548641 | $481226828 | $(512217721) | $— | $— | $17557747 | 17557747 | $— |
| **Franklin U.S. Equity** |  |  |  |  |  |  |  | **Income** |
| **Index ETF** |  |  |  |  |  |  |  | **from** |
| **Non-Controlled** |  |  |  |  |  |  |  | **Securities** |
| **Affiliates** |  |  |  |  |  |  |  | **loaned** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $— | $695343 | $(331344) | $— | $— | $363999 | 363999 | $— |
| **Franklin U.S. Mid Cap** |  |  |  |  |  |  |  | **Income** |
| **Multifactor Index ETF** |  |  |  |  |  |  |  | **from** |
| **Non-Controlled** |  |  |  |  |  |  |  | **Securities** |
| **Affiliates** |  |  |  |  |  |  |  | **loaned** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $10850 | $1354473 | $(1365323) | $— | $— | $— |  | $11 |
| **Franklin U.S. Small Cap** |  |  |  |  |  |  |  | **Income** |
| **Multifactor Index ETF** |  |  |  |  |  |  |  | **from** |
| **Non-Controlled** |  |  |  |  |  |  |  | **Securities** |
| **Affiliates** |  |  |  |  |  |  |  | **loaned** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $113498 | $427785 | $(541283) | $— | $— | $— |  | $— |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | |  |  | | **Number** |  |
|  | | | |  | **Net Change in** | | **of Shares** |  |
|  | | | |  | **Unrealized** | | **Held at** |  |
|  | | | | **Realized** | **Appreciation** | | **End of Investment** | **End of Investment** |
| | <br>**Value at**<br>**Beginning**<br>**of Period** | <br>**Purchases** | <br>**Sales** | **Gain (Loss) (Depreciation)** | **Gain (Loss) (Depreciation)** | <br>**Value at**<br>**End of**<br>**Period** | **Period** | **Income** |
| **Franklin U.S. Treasury** |  |  |  |  |  |  |  | |
| **Bond ETF** |  |  |  |  |  |  |  | |
| **Non-Controlled** |  |  |  |  |  |  |  | |
| **Affiliates** |  |  |  |  |  |  |  | <br>**Dividend**<br>**Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $4633381 | $154197049 | $(153471722) | $— | $— | $5358708 | 5358708 | $— |
| **Franklin Ultra Short** |  |  |  |  |  |  |  |  |
| **Bond ETF** |  |  |  |  |  |  |  |  |
| **Non-Controlled** |  |  |  |  |  |  |  | **Dividend** |
| **Affiliates** |  |  |  |  |  |  |  | **Income** |
| Institutional Fiduciary |  |  |  |  |  |  |  |  |
| Trust Money Market |  |  |  |  |  |  |  |  |
| Portfolio 3.84% | $81009 | $5867229 | $(5254427) | $— | $— | $693811 | 693811 | $— |

---

**4. FAIR VALUE MEASUREMENTS**<br>The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent<br>sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs<br>are used in determining the value of the Funds' financial instruments and are summarized in the following<br>fair value hierarchy:<br>• Level 1 – quoted prices in active markets for identical financial instruments<br>• Level 2 – other significant observable inputs (including quoted prices for similar financial instruments,<br>interest rates, prepayment speed, credit risk, etc.)<br>• Level 3 – significant unobservable inputs (including the Funds' own assumptions in determining the fair<br>value of financial instruments)<br>The input levels are not necessarily an indication of the risk or liquidity associated with financial instruments<br>at that level.<br>A summary of inputs used as of December 31, 2022, in valuing the Funds' assets and liabilities carried at<br>fair value, is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **BrandywineGLOBAL-Dynamic US Large Cap Value ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | $154912516 | $— | $— | $154912516 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 2583153 |  |  | 2583153 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities | $157495669 | $— | $— | $157495669 |
| **ClearBridge Sustainable Infrastructure ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | $2269766 | $— | $— | $2269766 |
| **Franklin Disruptive Commerce ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | $8140607 | $— | $— | $8140607 |
| **Franklin Dynamic Municipal Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds | $— | $90914832 | $— | $90914832 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin Emerging Market Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $11322161 | $2666 | $6050 | $11330877 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $562 | $— | $— | $562 |
| **Franklin Exponential Data ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $2217375 | $— | $— | $2217375 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 25336 |  |  | 25336 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $2242711 | $— | $— | $2242711 |
| **Franklin FTSE Asia ex Japan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $28820556 | $4273 | $11331 | $28836160 |
| **Franklin FTSE Australia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $29926190 | $— | $— | $29926190 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $5021 | $— | $— | $5021 |
| **Franklin FTSE Brazil ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $307721550 | $— | $— | $307721550 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $23356 | $— | $— | $23356 |
| **Franklin FTSE Canada ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $238112528 | $— | $— | $238112528 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $23805 | $— | $— | $23805 |
| **Franklin FTSE China ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $105215991 | $18782 | $99347 | $105334120 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $435 | $— | $— | $435 |
| **Franklin FTSE Europe ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $42654317 | $— | $—<sup>c</sup> | $42654317 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $11671 | $— | $— | $11671 |
| **Franklin FTSE Europe Hedged ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $12872251 | $— | $—<sup>c</sup> | $12872251 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $13676 | $— | $13676 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin FTSE Europe Hedged ETF** |  |  |  |  |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $419221 | $— | $419221 |
| &nbsp;&nbsp;&nbsp; Futures Contracts | 664 |  |  | 664 |
| &nbsp;&nbsp;&nbsp; Total Other Financial Instruments | $664 | $419221 | $— | $419885 |
| **Franklin FTSE France ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $5297116 | $— | $— | $5297116 |
| **Franklin FTSE Germany ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $15403462 | $— | $— | $15403462 |
| **Franklin FTSE Hong Kong ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $15119098 | $— | $— | $15119098 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $615 | $— | $— | $615 |
| **Franklin FTSE India ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $64749292 | $28976 | $— | $64778268 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $966 | $— | $— | $966 |
| **Franklin FTSE Italy ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $3298358 | $— | $— | $3298358 |
| **Franklin FTSE Japan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $868422565 | $— | $— | $868422565 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 207041 |  |  | 207041 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $868629606 | $— | $— | $868629606 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $85359 | $— | $— | $85359 |
| **Franklin FTSE Japan Hedged ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $24600435 | $— | $— | $24600435 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 217505 |  |  | 217505 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $24817940 | $— | $— | $24817940 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $205644 | $— | $205644 |
| &nbsp;&nbsp;&nbsp; Futures Contracts | 57 |  |  | 57 |
| &nbsp;&nbsp;&nbsp; Total Other Financial Instruments | $57 | $205644 | $— | $205701 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $1708762 | $— | $1708762 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin FTSE Latin America ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $60179149 | $— | $— | $60179149 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $3395 | $— | $— | $3395 |
| **Franklin FTSE Mexico ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $10998590 | $— | $— | $10998590 |
| **Franklin FTSE Russia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $— | $— | $—<sup>c</sup> | $— |
| **Franklin FTSE Saudi Arabia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $5011878 | $— | $— | $5011878 |
| **Franklin FTSE South Africa ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $3412621 | $— | $— | $3412621 |
| **Franklin FTSE South Korea ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $122558381 | $— | $— | $122558381 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $52402 | $— | $— | $52402 |
| **Franklin FTSE Switzerland ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $51638476 | $— | $— | $51638476 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $18945 | $— | $— | $18945 |
| **Franklin FTSE Taiwan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $49152431 | $— | $— | $49152431 |
| **Franklin FTSE United Kingdom ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $493571631 | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<sup>c</sup> | $493571631 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 645155 |  |  | 645155 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $494216786 | $— | $— | $494216786 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $3456 | $— | $— | $3456 |
| **Franklin Genomic Advancements ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $10423891 | $— | $— | $10423891 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin High Yield Corporate ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $— | $178969933 | $— | $178969933 |
| &nbsp;&nbsp;&nbsp; Senior Floating Rate Interests |  | 7959284 |  | 7959284 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities |  | 6105000 |  | 6105000 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $— | $193034217 | $— | $193034217 |
| **Franklin Intelligent Machines ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $7200752 | $— | $— | $7200752 |
| **Franklin International Aggregate Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Foreign Government and Agency Securities | $— | $171738408 | $— | $171738408 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | 9142660 |  | 9142660 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $— | $180881068 | $— | $180881068 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $433792 | $— | $433792 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $13341266 | $— | $13341266 |
| **Franklin International Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $111334743 | $— | $— | $111334743 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $1536 | $— | $— | $1536 |
| **Franklin Investment Grade Corporate ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $— | $598007060 | $— | $598007060 |
| &nbsp;&nbsp;&nbsp; Discount Note |  | 1929527 |  | 1929527 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities |  | 15245000 |  | 15245000 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $— | $615181587 | $— | $615181587 |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $172238 | $— | $— | $172238 |
| **Franklin Municipal Green Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | $— | $106885361 | $— | $106885361 |
| **Franklin Senior Loan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $— | $7664242 | $— | $7664242 |
| &nbsp;&nbsp;&nbsp; Senior Floating Rate Interests |  | 187785882 |  | 187785882 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities |  | 1837605 |  | 1837605 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities |  | 5795000 |  | 5795000 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $— | $203082729 | $— | $203082729 |
| **Franklin Systematic Style Premia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Discount Note | $— | $26815827 | $— | $26815827 |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | 49607544 |  |  | 49607544 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $49607544 | $26815827 | $— | $76423371 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin Systematic Style Premia ETF** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $221637 | $— | $221637 |
| &nbsp;&nbsp;&nbsp; Futures Contracts | 1519756 |  |  | 1519756 |
| &nbsp;&nbsp;&nbsp; Total Return Swap Contracts |  | 748091 |  | 748091 |
| &nbsp;&nbsp;&nbsp; Total Other Financial Instruments | $1519756 | $969728 | $— | $2489484 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Exchange Contracts | $— | $210950 | $— | $210950 |
| &nbsp;&nbsp;&nbsp; Futures Contracts | 1595630 |  |  | 1595630 |
| &nbsp;&nbsp;&nbsp; Total Other Financial Instruments | $1595630 | $210950 | $— | $1806580 |
| **Franklin U.S. Core Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $— | $341825670 | $— | $341825670 |
| &nbsp;&nbsp;&nbsp; Municipal Bonds |  | 44485180 |  | 44485180 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | 317434913 |  | 317434913 |
| &nbsp;&nbsp;&nbsp; Foreign Government and Agency Securities |  | 18410426 |  | 18410426 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities |  | 41758238 |  | 41758238 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities |  | 656077396 |  | 656077396 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 17557747 |  |  | 17557747 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $17557747 | $1419991823 | $— | $1437549570 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $28808 | $— | $— | $28808 |
| &nbsp;&nbsp;&nbsp; Credit Default Swap Contracts |  | 8208 |  | 8208 |
| &nbsp;&nbsp;&nbsp; Total Other Financial Instruments | $28808 | $8208 | $— | $37016 |
| **Franklin U.S. Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $27011275 | $— | $—<sup>c</sup> | $27011275 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $2167 | $— | $— | $2167 |
| **Franklin U.S. Equity Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $600485082 | $— | $206 | $600485288 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 363999 |  |  | 363999 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $600849081 | $— | $206 | $600849287 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $21637 | $— | $— | $21637 |
| **Franklin U.S. Large Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $903920968 | $— | $— | $903920968 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $16228 | $— | $— | $16228 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Franklin U.S. Low Volatility ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $139732742 | $— | $— | $139732742 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities |  | 1060000 |  | 1060000 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $139732742 | $1060000 | $— | $140792742 |
| **Franklin U.S. Mid Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $126246803 | $— | $— | $126246803 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | $8842 | $— | $— | $8842 |
| **Franklin U.S. Small Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Equity Investments<sup>b</sup> | $14707728 | $— | $— | $14707728 |
| **Franklin U.S. Treasury Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Securities | $— | $389492489 | $— | $389492489 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 5358708 |  |  | 5358708 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $5358708 | $389492489 | $— | $394851197 |
| **Franklin Ultra Short Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $— | $2753669 | $— | $2753669 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities |  | 200118 |  | 200118 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 693811 |  |  | 693811 |
| &nbsp;&nbsp;&nbsp; Total Investments in Securities | $693811 | $2953787 | $— | $3647598 |

---

<sup>a</sup>For detailed categories, see the accompanying Schedules of Investments.<br> <sup>b</sup>Includes common and convertible preferred stocks, warrants, as well as other equity investments.<br> <sup>c</sup>Includes securities determined to have no value at December 31, 2022.<br>**5. SECURITIES LENDING**<br>Certain or all Funds participate in an agency based securities lending program to earn additional income.<br> The Fund receives cash collateral against the loaned securities in an amount equal to at least 102% of the<br> fair value of the loaned securities. Collateral is maintained over the life of the loan in an amount not less<br> than 100% of the fair value of loaned securities, as determined at the close of Fund business each day; any<br> additional collateral required due to changes in security values is delivered to the Fund on the next business<br> day. The collateral is deposited into a joint cash account with other funds and is used to invest in a money<br> market fund managed by Franklin Advisers, Inc., an affiliate of the Funds. The Fund may receive income<br> from the investment of cash collateral, in addition to lending fees and rebates paid by the borrower.<br>**6. TOTAL RETURN SWAPS**<br>Franklin Systematic Style Premia ETF entered into OTC MSFTLSSP total return swap contracts primarily to<br> gain exposure to the credit and other market risk of an underlying instrument such as a stock, bond, index or<br> basket of securities or indices. A total return swap is an agreement between the Fund and a counterparty to<br> exchange a return linked to an underlying instrument for a floating or fixed rate payment, both based upon a<br> notional amount. Over the term of the contract, contractually required payments to be paid or received are<br> accrued daily and recorded as unrealized appreciation or depreciation until the payments are made, at<br> which time they are recognized as realized gain or loss.<br>**7. INVESTMENTS IN FLSP HOLDINGS CORPORATION**<br>Franklin Systematic Style Premia ETF, (the "Fund"), invests in certain financial instruments and<br> commodities/or commodity-linked derivative investments. The FLSP Holdings Corporation is a Cayman

------

Islands exempted company with limited liability, is a wholly-owned subsidiary of the Fund, and is able to<br> invest in certain financial instruments and/or commodity-linked derivative investments consistent with the<br> investment objective of the Fund. At December 31, 2022, the Franklin Systematic Style Premia ETF<br> investment(s) FLSP Holdings Corporation is reflected in the Fund's Consolidated Statement of Investments.<br> At December 31, 2022, the net assets of the FLSP Holdings Corporation were $2,504,197 representing<br> 2.70% of the Fund's consolidated net assets. The Fund's investment(s) in the FLSP Holdings Corporation is<br> limited to 25% of consolidated assets.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Templeton ETF Trust

- **b. Investment Company Act file number:** 811-23124

- **c. CIK number of Registrant:** 0001655589

- **d. LEI of Registrant:** 549300UHXVPT5S43XV04

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

  - **Street Address 1:** ONE FRANKLIN PARKWAY

  - **City:** SAN MATEO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin U.S. Treasury Bond ETF

- **b. EDGAR series identifier (if any):** S000068596

- **c. LEI of Series:** 5493008ZZCRVIGT1H265

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

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

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $397233342.68

**Total Liabilities:** $31210.16

**Net Assets:** $397202132.52

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -24968.01000000 | **5-Year:** -59242.30000000 | **10-Year:** -64016.87000000 | **30-Year:** -81897.57000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219501 | -1.34%               | 2.52%                | -0.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-18241858.98            | $12429037.54                               |
| Month 2  | $0.00                    | $8741560.55                                |
| Month 3  | $145204.99               | $-4525970.70                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8128000 | PA      | $5150802.52   | 1.30%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828ZV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14175000 | PA      | $12126823.21  | 3.05%             | 2027-06-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 9128286G0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  43189000 | PA      | $42073846.63  | 10.59%            | 2024-02-29      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CCS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5900000 | PA      | $4785914.09   | 1.20%             | 2031-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828YE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2670000 | PA      | $2528051.96   | 0.64%             | 2024-08-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio | Institutional Fiduciary Trust - Money Market Portfolio | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |   5358708 | NS      | $5358708.14   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828YV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14631000 | PA      | $13847441.33  | 3.49%             | 2024-11-30      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810SH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4980000 | PA      | $4009872.64   | 1.01%             | 2049-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $8505468.80   | 2.14%             | 2028-01-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 9128284V9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1764000 | PA      | $1661536.40   | 0.42%             | 2028-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5450000 | PA      | $4291236.31   | 1.08%             | 2030-08-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810QT8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17000000 | PA      | $14701679.73  | 3.70%             | 2041-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 9128283J7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17413000 | PA      | $16670906.87  | 4.20%             | 2024-11-30      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2330000 | PA      | $1897084.18   | 0.48%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8210000 | PA      | $6693394.94   | 1.69%             | 2031-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CCW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1795000 | PA      | $1589696.88   | 0.40%             | 2026-08-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CAL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16151000 | PA      | $13617942.73  | 3.43%             | 2027-09-30      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828Y95<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6500000 | PA      | $6012500.00   | 1.51%             | 2026-07-31      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828YH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15010000 | PA      | $14255395.67  | 3.59%             | 2024-09-30      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Floating Rate Note              | CUSIP: 91282CFD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25000000 | PA      | $24972644.50  | 6.29%             | 2024-07-31      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 9128283D0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10600000 | PA      | $10182625.00  | 2.56%             | 2024-10-31      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8100000 | PA      | $6862851.52   | 1.73%             | 2027-12-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CAB7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16900000 | PA      | $15252910.11  | 3.84%             | 2025-07-31      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5367000 | PA      | $4648115.52   | 1.17%             | 2028-02-29      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810QW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18978000 | PA      | $15974509.08  | 4.02%             | 2042-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15900000 | PA      | $14149136.68  | 3.56%             | 2026-01-31      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CFC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  23000000 | PA      | $21183808.68  | 5.33%             | 2029-07-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2600000 | PA      | $2256820.31   | 0.57%             | 2029-08-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29800000 | PA      | $20734281.25  | 5.22%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Inflation Indexed Bonds         | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9114360 | PA      | $8574755.98   | 2.16%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CBZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15400000 | PA      | $13364312.50  | 3.36%             | 2028-04-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828Y87<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7080000 | PA      | $6773292.21   | 1.71%             | 2024-07-31      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10257929.66  | 2.58%             | 2027-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10119000 | PA      | $8587315.40   | 2.16%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21000000 | PA      | $22285019.61  | 5.61%             | 2039-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | United States Treasury Note/Bond                       | CUSIP: 9128282Y5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9390000 | PA      | $9012566.04   | 2.27%             | 2024-09-30      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

**Name of Applicant:** Franklin Templeton ETF Trust

**Signature:** Vivek Pai

**Name of Signer:** Vivek Pai

**Title:** Chief Financial Officer, Chief  Accounting Officer and Treasurer