# EDGAR Filing Document

**Accession Number:** 0001888997
**File Stem:** 0001398344-26-010415
**Filing Date:** 2026-6
**Character Count:** 319876
**Document Hash:** 3e58a95a2f143ce5060fe6f2e6e88ac8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-010415.hdr.sgml**: 20260605

**ACCESSION NUMBER**: 0001398344-26-010415

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**EFFECTIVENESS DATE**: 20260605

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEI Exchange Traded Funds
- **CENTRAL INDEX KEY:** 0001888997

**ORGANIZATION NAME:**
- **EIN:** 876679400
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23754
- **FILM NUMBER:** 261068570

**BUSINESS ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 610-676-1000

**MAIL ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### SEI Enhanced Low Volatility U.S. Large Cap ETF (Series ID: S000075036)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000233738 | SEI Enhanced Low Volatility U.S. Large Cap ETF | SELV            |

### SEI Enhanced U.S. Large Cap Momentum Factor ETF (Series ID: S000075037)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000233739 | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEIM            |

### SEI Enhanced U.S. Large Cap Quality Factor ETF (Series ID: S000075038)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000233740 | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEIQ            |

### SEI Enhanced U.S. Large Cap Value Factor ETF (Series ID: S000075039)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000233741 | SEI Enhanced U.S. Large Cap Value Factor ETF | SEIV            |

### SEI Select Emerging Markets Equity ETF (Series ID: S000085974)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000251374 | SEI Select Emerging Markets Equity ETF | SEEM            |

### SEI Select International Equity ETF (Series ID: S000085975)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000251375 | SEI Select International Equity ETF | SEIE            |

### SEI Select Small Cap ETF (Series ID: S000085976)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000251376 | SEI Select Small Cap ETF | SEIS            |

### SEI DBi Multi-Strategy Alternative ETF (Series ID: S000093461)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000261746 | SEI DBi Multi-Strategy Alternative ETF | QALT            |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT** 

**INVESTMENT COMPANIES**

**Investment Company Act File Number 811-23754**

**SEI EXCHANGE TRADED FUNDS**

(Exact name of registrant as specified in charter)

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Address of principal executive offices)

Timothy D. Barto, Esq.

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

**Registrant's telephone number, including area code: 610-676-1000**

**Date of fiscal year end: March 31, 2026**

**Date of reporting period: March 31, 2026**

**Item 1. Reports to Stockholders.**

(a) A copy of the report transmitted
 to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") (17 CFR § 270.30e-1),
 is attached hereto.

**# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI DBi Multi-Strategy Alternative ETF

## SEI Exchange Traded Funds - QALT

## Principal Listing Exchange: NASDAQ

## Fund Overview
This annual shareholder report contains important information about the SEI DBi Multi-Strategy Alternative ETF (the "Fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.This annual shareholder report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as an annualized percentage of a $10,000 investment |
| SEI DBi Multi-Strategy Alternative ETF | $41 | 0.80% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](i455ae9143ddabe995f2efa60.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | SEI DBi Multi-Strategy Alternative ETF<sup>Footnote Reference\*</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | ICE BofA U.S. 3-Month Treasury Bill Index (USD) |
| Jun/23 | $10000 | $10000 | $10000 |
| Sep/23 | $10159 | $9677 | $10131 |
| Sep/24 | $10912 | $10796 | $10684 |
| Sep/25 | $11260 | $11108 | $11152 |
| Mar/26 | $11829 | $11225 | $11357 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;The Fund commenced operations on August 25, 2025 when the SEI Institutional Managed Trust Liquid Alternative Fund ("Acquired Fund") reorganized into the Fund. For periods prior to August 25, 2025, the Fund's performance information is based on the performance of the Acquired Fund's Class F Shares. In anticipation of the reorganization, Acquired Fund Class F shares implemented a contractual fee wavier on August 3, 2025 that limited Class F's total fund operating expenses to an amount equal to the Fund's expected total annual fund operation expenses. The Fund's returns would have only differed from the returns of the Acquired Fund's Class F Shares to the extent that, prior to the implementation of the contractual fee waiver, the total fund operating expenses of the Class F Shares were higher than the Fund's current total annual fund operation expenses. |
| Footnote† | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last six months?
Dynamic Beta Investments (DBi), the Fund's sole sub-adviser, manages the Fund's active exposure through a portfolio of exchange-traded futures under a model-driven framework. Futures contracts traded under the strategy span three asset classes: equity indexes, fixed income, and currencies.

The Fund outperformed its primary benchmark, the ICE BofA U.S. 3-Month Treasury Bill Index, from April 1, 2025, to the end of the fiscal year on March 31, 2026. The majority of the gains over the reporting period stemmed from equity index trading. The contribution from currency trading was not significant, while the fixed income sleeve detracted slightly from performance.

The Fund's equity index trading captured the generally positive momentum across markets prior to the outbreak of the war with Iran heading into March 2026. The Fund's long exposure to international and emerging-market equities was a notable contributor to performance, with emerging markets in particular benefiting from a weaker U.S. dollar as well as the exposure to the broader artificial intelligence (AI) theme through countries including Taiwan and South Korea. Fund performance also benefited from short exposure to the broad-market S&P 500 Index, which faced a sharp correction in March 2026.

The Fund's losses within fixed income asset class resulted primarily from short exposure to 30-year U.S. Treasury bonds that the Fund had maintained throughout much of the previous 12-month period. Positioning fluctuated over the reporting period and the Fund ended with short positions in 10- and 30-year Treasurys, and the Secured Overnight Financing Rate (SOFR).

The Fund's foreign exchange (FX) bucket posted modestly positive performance over the reporting period with meaningful gains from short Japanese yen positioning more than offsetting losses in other currency trades. A sizable long position in the U.S. Dollar Index weighed on performance in April 2025, as the U.S. dollar experienced a notable decline during the first half of the month in response to President Donald Trump's "Liberation Day" tariff assessments and broader uncertainty pertaining to shifting trade and Federal Reserve (Fed) monetary policy. The Fund's euro and Canadian dollar trades experienced losses, particularly in March 2026, as the escalating war in the Middle East and subsequent energy crisis sparked a flight to safety, with the U.S. dollar appreciating against numerous major currencies. The Fund had held a long position in the euro since June 2025, but had rotated short by the end of the current reporting period.

Consistent with the Fund's strategy, all active exposures are implemented through derivatives, specifically exchange-traded futures. Consequently, given prevailing interest-rate levels, Fund performance for the period was enhanced by the yield earned on cash holdings within the futures account.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 6 months | Annualized Since Inception |
| SEI DBi Multi-Strategy Alternative ETF<sup>Footnote Reference\*</sup> | 5.05% | 6.29% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 1.05% | 4.28% |
| ICE BofA U.S. 3-Month Treasury Bill Index (USD) | 1.83% | 4.73% |

---

Since its inception on June 30, 2023. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $184858 | 19 | $740 | 0% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](if6174f928b804beeef9a0e58.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | -0.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| S&P 500 Index E-Mini | 0.6% |
| Euro FX | 0.1% |
| U.S. 10-Year Treasury Notes | 0.0% |
| U.S. Dollar Index | 0.0% |
| U.S. Long Treasury Bonds | 0.0% |
| Japanese Yen | 0.0% |
| 3 Month SOFR | 0.0% |
| U.S. Long Treasury Bonds | 0.0% |
| MSCI EAFE Index | 0.0% |
| 3 Month SOFR | 0.0% |

---

## Material Fund Changes
The SEI DBi Multi-Strategy Alternative ETF reorganized from SEI Institutional Managed Trust Liquid Alternative Fund ("Predecessor Fund") effective as of the close of business August 22, 2025. The reorganization, approved by the Board of Trustees in 2025, was deemed in the best interest of shareholders. The Fund and the Predecessor Fund have the same investment objectives and principal investment strategies. Returns prior to the reorganization are those of the Predecessor Fund.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI DBi Multi-Strategy Alternative ETF

## SEI Exchange Traded Funds - QALT

## Principal Listing Exchange: NASDAQ

## Annual Shareholder Report: March 31, 2026

## QALT-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Enhanced Low Volatility U.S. Large Cap ETF

## SEI Exchange Traded Funds - SELV

## Principal Listing Exchange: Cboe BZX Exchange

## Fund Overview
This annual shareholder report contains important information about the SEI Enhanced Low Volatility U.S. Large Cap ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | $16 | 0.15% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](if06d35937a45c775633d1189.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | SEI Enhanced Low Volatility U.S. Large Cap ETF | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| May/22 | $10000 | $10000 | $10000 |
| Mar/23 | $10302 | $10632 | $10617 |
| Mar/24 | $11586 | $13809 | $13787 |
| Mar/25 | $13038 | $14949 | $14866 |
| Mar/26 | $14000 | $17610 | $17504 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last year?
The Fund underperformed its primary benchmark, the Russell 1000 Index, for the 12-month period ending March 31, 2026.

Low-volatility factors underperformed within the U.S. large-cap equity universe over the reporting period. Headwinds were particularly pronounced early in the period following the April 2025 announcement of a 90-day pause in the Trump administration's tariff policy. This prompted a sharp risk rally in large-cap technology and growth stocks, while defensive stocks lagged. The Fund's lack of exposure to artificial intelligence (AI)-themed mega-cap tech names such as Nvidia Corp. and Broadcom Inc. were key detractors from performance. Later in the reporting period, investors' concerns around AI and record capital expenditures by big tech companies prompted a broad rotation with renewed interest in value and defensive stocks, improving Fund performance. Fund performance benefited from strong stock selection within the healthcare sector, including Cardinal Health Inc., Merck & Co. Inc., and Johnson & Johnson. Recent events related to the U.S./Iran conflict have further reinforced low-volatility factor performance. Nevertheless, the Fund's strategic underweight to higher-beta, mega-cap technology stocks remained the primary detractor from overall performance during the reporting period.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | 7.38% | 9.08% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.80% | 15.74% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.74% | 15.56% |

---

Since its inception on May 18, 2022. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $227341 | 77 | $269 | 23% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i596c98f53e96be56405fee09.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Materials | 0.3% |
| Energy | 2.4% |
| Consumer Discretionary | 3.7% |
| Utilities | 6.1% |
| Industrials | 7.6% |
| Financials | 10.0% |
| Consumer Staples | 12.1% |
| Communication Services | 12.1% |
| Health Care | 18.6% |
| Information Technology | 26.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| Johnson & Johnson | 3.1% |
| Walmart | 3.0% |
| AT&T | 2.9% |
| Cardinal Health | 2.9% |
| Cisco Systems | 2.8% |
| Gilead Sciences | 2.8% |
| McKesson | 2.7% |
| Apple | 2.7% |
| Merck | 2.5% |
| Verizon Communications | 2.5% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Enhanced Low Volatility U.S. Large Cap ETF

## SEI Exchange Traded Funds - SELV

## Principal Listing Exchange: Cboe BZX Exchange

## Annual Shareholder Report: March 31, 2026

## SELV-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Enhanced U.S. Large Cap Momentum Factor ETF

## SEI Exchange Traded Funds - SEIM

## Principal Listing Exchange: Cboe BZX Exchange

## Fund Overview
This annual shareholder report contains important information about the SEI Enhanced U.S. Large Cap Momentum Factor ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | $17 | 0.15% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](id17de3ccb857fcf484dafa85.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | SEI Enhanced U.S. Large Cap Momentum Factor ETF | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| May/22 | $10000 | $10000 | $10000 |
| Mar/23 | $10274 | $10632 | $10617 |
| Mar/24 | $13056 | $13809 | $13787 |
| Mar/25 | $14750 | $14949 | $14866 |
| Mar/26 | $18728 | $17610 | $17504 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last year?
The Fund outperformed its primary benchmark, the Russell 1000 Index, for the 12-month period ending March 31, 2026.

Momentum factors outperformed within the U.S. large-cap equity universe over the reporting period, driven primarily by sustained leadership from technology infrastructure stocks, as well as continued earnings resilience among companies exhibiting strong price trends and upward earnings revisions. Active multi-factor implementation mitigated excess concentration and valuation risks, providing a cushion to performance during market downturns.

While the overall contribution from factors during the reporting period was not significant, Fund performance benefited primarily from an overweight allocation to high-conviction artificial intelligence (AI) infrastructure companies such as Ciena, Corning Inc., Sandisk Corp., and Amphenol Corp., whose shares rallied on insatiable demand from data centers, driving strong revenue growth with substantial backlog. In addition to capturing trends in the defense and materials sectors through overweight positions in Howmet Aerospace, Curtiss-Wright, and Newmont Corporation, the Fund's initiation of a holding in luxury fashion retailer Tapestry Inc., which we believe has promising revenue growth and improving operating margins, also benefited performance for the period.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 26.97% | 17.59% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.80% | 15.74% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.74% | 15.56% |

---

Since its inception on May 18, 2022. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $1169122 | 70 | $1306 | 81% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](ib63fc8bfb177ea727a6606ee.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Materials | 2.4% |
| Utilities | 2.7% |
| Consumer Staples | 4.5% |
| Communication Services | 8.6% |
| Financials | 8.7% |
| Health Care | 11.2% |
| Industrials | 11.4% |
| Consumer Discretionary | 14.9% |
| Information Technology | 34.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| Alphabet, Cl A | 6.9% |
| NVIDIA | 6.7% |
| Microsoft | 3.3% |
| Apple | 3.1% |
| Johnson & Johnson | 2.9% |
| Entergy | 2.7% |
| Ciena | 2.7% |
| Tapestry | 2.5% |
| Bank of New York Mellon | 2.5% |
| Newmont | 2.5% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Enhanced U.S. Large Cap Momentum Factor ETF

## SEI Exchange Traded Funds - SEIM

## Principal Listing Exchange: Cboe BZX Exchange

## Annual Shareholder Report: March 31, 2026

## SEIM-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Enhanced U.S. Large Cap Quality Factor ETF

## SEI Exchange Traded Funds - SEIQ

## Principal Listing Exchange: Cboe BZX Exchange

## Fund Overview
This annual shareholder report contains important information about the SEI Enhanced U.S. Large Cap Quality Factor ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | $15 | 0.15% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](ib7873c78db8eb200b84a4002.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | SEI Enhanced U.S. Large Cap Quality Factor ETF | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| May/22 | $10000 | $10000 | $10000 |
| Mar/23 | $11008 | $10632 | $10617 |
| Mar/24 | $13166 | $13809 | $13787 |
| Mar/25 | $14436 | $14949 | $14866 |
| Mar/26 | $15217 | $17610 | $17504 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last year?
The Fund underperformed its primary benchmark, the Russell 1000 Index, for the 12-month period ending March 31, 2026.

Quality factors underperformed within the U.S. large-cap equity universe over the reporting period, as market returns were driven by a narrow group of companies and a one-way trade in artificial intelligence (AI)-linked equities (a market trend where investors favor companies powering AI infrastructure). In this environment, diversified quality exposure and a bias toward lower-volatility characteristics lagged, particularly as market leadership remained concentrated and cyclical sectors, most notably energy, benefited from higher oil prices and renewed inflation concerns.

While the Fund's structural underweight to expensive, AI-driven mega-cap technology stocks remained a headwind, performance improved modestly as the market transitioned into a more selective "show me the ROI (return on equity)" phase. (Return on equity measures how effectively a company uses shareholders' equity to generate net income.) However, this shift was insufficient to fully support quality positioning, as leadership remained narrow and cyclicality continued to be rewarded over stable, defensive earnings profiles.

Detractors from Fund performance for the reporting period were concentrated in the information technology sector, where overweight allocations to Gartner Inc., Adobe Inc., and Qualcomm Inc. lagged, while an underweight to NVIDIA Corp. and the lack of exposure to Broadcom Inc. weighed on performance. Positioning in the industrials sector also detracted from performance, reflecting an overweight to Verisk Analytics Inc., and the lack of exposure to Caterpillar Inc. Within the consumer discretionary sector, the Fund's positions in Booking Holdings Inc. and Domino's Pizza Inc. underperformed.

These negative effects were only partially offset by the positive contribution of positioning in communication services, including an underweight to Alphabet Inc., and strong stock selection within the healthcare sector.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | 5.41% | 11.45% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.80% | 15.74% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.74% | 15.56% |

---

Since its inception on May 18, 2022. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $555562 | 67 | $639 | 34% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i581bfc20b54e066f12275a8c.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Communication Services | 7.9% |
| Financials | 8.2% |
| Consumer Staples | 10.2% |
| Health Care | 10.4% |
| Industrials | 12.7% |
| Consumer Discretionary | 16.8% |
| Information Technology | 33.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| Apple | 7.2% |
| Microsoft | 5.1% |
| NVIDIA | 4.6% |
| Meta Platforms, Cl A | 4.1% |
| Johnson & Johnson | 4.1% |
| Alphabet, Cl C | 3.1% |
| Cisco Systems | 3.0% |
| Visa, Cl A | 2.8% |
| TJX | 2.8% |
| Mastercard, Cl A | 2.7% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Enhanced U.S. Large Cap Quality Factor ETF

## SEI Exchange Traded Funds - SEIQ

## Principal Listing Exchange: Cboe BZX Exchange

## Annual Shareholder Report: March 31, 2026

## SEIQ-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Enhanced U.S. Large Cap Value Factor ETF

## SEI Exchange Traded Funds - SEIV

## Principal Listing Exchange: Cboe BZX Exchange

## Fund Overview
This annual shareholder report contains important information about the SEI Enhanced U.S. Large Cap Value Factor ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Enhanced U.S. Large Cap Value Factor ETF | $17 | 0.15% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](i9c81b4abb4a5d30686b71a78.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | SEI Enhanced U.S. Large Cap Value Factor ETF | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| May/22 | $10000 | $10000 | $10000 |
| Mar/23 | $9848 | $10632 | $10617 |
| Mar/24 | $12912 | $13809 | $13787 |
| Mar/25 | $13770 | $14949 | $14866 |
| Mar/26 | $17885 | $17610 | $17504 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last year?
The Fund outperformed its primary benchmark, the Russell 1000 Index, for the 12-month period ending March 31, 2026.

Value factors saw flat performance within the U.S. large-cap equity universe over the reporting period as the benefits of positioning in cyclical sectors following the Trump administration's tariff "Liberation Day" in April 2025 were offset by concentrated market leadership dominated by mega-cap technology stocks and other artificial intelligence (AI)-related names. In this environment, momentum factor outperformed, while quality factors faced material headwinds. Despite these challenges, the Fund outperformed the benchmark, attributable to secondary momentum factor positioning, risk controls, and stock positions benefiting from AI. Despite underweights to the largest, most expensive AI names, the Fund's positions in relatively less expensive AI beneficiaries which contributed to the relative gains.

Sector allocation effects had little impact on the Fund's relative performance for the reporting period. At the stock level, key contributors included a position in memory chip-maker Micron Technology Inc., driven by unprecedented demand for its high-bandwidth memory and DRAM chips essential for AI data centers. Additionally, a position in NRG Energy Inc. was a key contributor to Fund performance as the energy supplier had benefited from significant energy demand for AI data centers. In contrast, an underweight allocation to AI chip-maker NVIDIA Corp. hampered Fund performance.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 29.88% | 16.20% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.80% | 15.74% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.74% | 15.56% |

---

Since its inception on May 18, 2022. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $1172541 | 118 | $1280 | 44% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i60d865300fa8713ef7822c9e.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Materials | 2.8% |
| Energy | 4.2% |
| Industrials | 4.2% |
| Consumer Staples | 4.9% |
| Utilities | 5.9% |
| Consumer Discretionary | 9.3% |
| Communication Services | 11.3% |
| Health Care | 12.1% |
| Financials | 14.7% |
| Information Technology | 29.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| NVIDIA | 3.2% |
| Apple | 2.9% |
| Verizon Communications | 2.9% |
| Alphabet, Cl C | 2.6% |
| Cardinal Health | 2.6% |
| General Motors | 2.5% |
| AT&T | 2.4% |
| Dell Technologies, Cl C | 2.3% |
| Hewlett Packard Enterprise | 2.2% |
| Devon Energy | 2.2% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Enhanced U.S. Large Cap Value Factor ETF

## SEI Exchange Traded Funds - SEIV

## Principal Listing Exchange: Cboe BZX Exchange

## Annual Shareholder Report: March 31, 2026

## SEIV-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Select Emerging Markets Equity ETF

## SEI Exchange Traded Funds - SEEM

## Principal Listing Exchange: NASDAQ

## Fund Overview
This annual shareholder report contains important information about the SEI Select Emerging Markets Equity ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Select Emerging Markets Equity ETF | $70 | 0.60% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](iedda62e21ffe9182ed5a88b9.jpg)

---

| | | |
|:---|:---|:---|
| | SEI Select Emerging Markets Equity ETF | MSCI Emerging Markets Index (USD) (Gross) |
| Oct/24 | $10000 | $10000 |
| Mar/25 | $9786 | $9612 |
| Mar/26 | $13129 | $12525 |

---

## How did the Fund perform in the last year?
The Fund outperformed its primary benchmark, the MSCI Emerging Markets Index (Net) (USD), for the 12-month period ending March 31, 2026.

The reporting period opened with a notable setback from the Trump administration's "Liberation Day" tariff shock in early April 2025, which triggered a sharp selloff in emerging-market stocks as reciprocal duties on key Asian exporters raised fears of a global economic growth slowdown. Investor sentiment recovered swiftly, however, as the tariff pause eased, a weakening U.S. dollar provided a meaningful tailwind, and corporate earnings proved resilient. Late in the period, military escalation in the Middle East triggered an oil-price shock, reviving inflation concerns and pushing yields sharply higher. Value factors led the market due to exposures to energy, materials, and financials, and momentum factors benefited by navigating AI disruption headwinds. Quality factors lagged on higher interest rates, exposure to information technology (IT), and underweight exposure to energy.

Rewarded value and momentum factor positioning contributed to Fund performance. (Rewarded factors are those that historically have delivered persistently higher returns over passive market benchmarks.) A marginal underweight to IT and an overweight to the consumer discretionary sector detracted from performance. A modest underweight to India and overweight to Korea bolstered Fund performance. At the manager level, SEI Quantitative Investment Management's (QiM) factor blend portfolio benefited from rewarded factors, while Robeco Institutional Asset Management's U.S. value portfolio gained on cyclical tailwinds and company-specific issues for Korean memory chip manufacturers. JOHCM (USA)'s momentum portfolio was also enhanced by positions in precious metals miners. Aikya Investment Management's quality portfolio was hampered by its defensive positioning, limited energy exposure, and lack of exposure to AI semiconductor manufacturers. At the security level, the Fund's overweight to Samsung Electronics was a notable contributor as the memory chip manufacturer continued to benefit from surging demand for memory chips in AI data centers. The Fund's position in United Arab Emirates based property developer Emaar Properties weighed on performance following the escalation the Middle East war.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Select Emerging Markets Equity ETF | 34.16% | 20.24% |
| MSCI Emerging Markets Index (USD) (Gross) | 30.30% | 16.47% |

---

Since its inception on October 8, 2024. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $457120 | 235 | $1885 | 90% |

---

## What did the Fund invest in?

### Country Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i7a19c85d6dbc0a39f0e61ad2.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Other Countries | 7.6% |
| Saudi Arabia | 1.6% |
| Hungary | 1.6% |
| Mexico | 1.9% |
| Poland | 1.9% |
| United States | 2.1% |
| United Arab Emirates | 2.4% |
| South Africa | 4.1% |
| Brazil | 6.1% |
| India | 10.0% |
| South Korea | 15.9% |
| Taiwan | 19.6% |
| China | 24.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| Taiwan Semiconductor Manufacturing | 12.2% |
| Samsung Electronics | 4.7% |
| Tencent Holdings | 3.7% |
| SK Hynix | 2.9% |
| Alibaba Group Holding | 2.3% |
| iShares Core MSCI Emerging Markets ETF | 1.9% |
| Samsung Electronics, Preference | 1.7% |
| Delta Electronics | 1.4% |
| Petroleo Brasileiro - Petrobras, Preference | 1.3% |
| NetEase | 1.2% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Select Emerging Markets Equity ETF

## SEI Exchange Traded Funds - SEEM

## Principal Listing Exchange: NASDAQ

## Annual Shareholder Report: March 31, 2026

## SEEM-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Select International Equity ETF

## SEI Exchange Traded Funds - SEIE

## Principal Listing Exchange: NASDAQ

## Fund Overview
This annual shareholder report contains important information about the SEI Select International Equity ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Select International Equity ETF | $57 | 0.50% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](i3d6f74ac7dd9bdc8998ea5a0.jpg)

---

| | | |
|:---|:---|:---|
| | SEI Select International Equity ETF | MSCI EAFE Index (USD) (Gross)<sup>Footnote Reference\*</sup> |
| Oct/24 | $10000 | $10000 |
| Mar/25 | $10425 | $10096 |
| Mar/26 | $13150 | $12305 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;EAFE – Europe, Australasia, and the Far East |

---

## How did the Fund perform in the last year?
The Fund outperformed its primary benchmark, the MSCI EAFE Index (Net) (USD), for the 12-month period ending March 31, 2026.

The reporting period began with the Trump administration's "Liberation Day" tariff shock in early April 2025, before investor sentiment recovered as pressures eased and earnings proved resilient. Late in the period, escalating Middle East tensions triggered an oil-price shock, reviving inflation concerns and pushing yields higher, benefiting energy and materials stocks in a broader "risk-off" move. Value factors led the market, helped by cyclical exposures, notably within energy, materials, and financials, and momentum factors benefited by navigating AI disruption headwinds. Quality factors lagged on higher rates, information technology (IT) exposure, and insufficient energy exposure.

The Fund's rewarded value and momentum factor positioning contributed positively to performance for the period. (Rewarded factors are those that historically have delivered persistently higher returns over passive market benchmarks.) Sector positioning had a neutral impact, while marginal overweights to Austria, Denmark and Norway benefited performance. At the manager level, SEI Quantitative Investment Management's (QiM) factor blend portfolio benefited from rewarded factors and positions in Japanese electronic hardware makers and European energy names. Pzena Investment Management's value portfolio gained ground on cyclical tailwinds across banks, oil producers, and drugmakers. Brown Advisory's quality portfolio detracted from performance due to its defensive positioning and limited energy exposure. At the security level, the Fund's underweight to weight-loss and diabetes drugmaker Novo Nordisk A/S contributed positively to performance as the company faced competitive headwinds to its GLP-1 weight-loss drug franchise. Additionally, the position in Japanese telecommunications systems manufacturer Fujikura Ltd. was bolstered by rising demand for its specialized high-density optical fiber cables as a key component of AI data centers. Conversely, an underweight to semiconductor equipment manufacturer ASML Holding N.V. weighed on performance as the company benefited from strong demand for AI chip fabrication.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Select International Equity ETF | 26.14% | 20.38% |
| MSCI EAFE Index (USD) (Gross)<sup>Footnote Reference\*</sup> | 21.88% | 15.08% |

---

Since its inception on October 8, 2024. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $930981 | 333 | $3693 | 70% |

---

## What did the Fund invest in?

### Country Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i24569b89ef5c16a21de046fc.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Other Countries | 13.5% |
| Norway | 1.7% |
| Ireland | 1.7% |
| Finland | 2.1% |
| Australia | 2.1% |
| Spain | 3.9% |
| Netherlands | 4.3% |
| Italy | 4.5% |
| Switzerland | 7.0% |
| Germany | 7.6% |
| France | 9.0% |
| United Kingdom | 18.9% |
| Japan | 22.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| HSBC Holdings | 1.9% |
| GSK | 1.4% |
| Novartis | 1.3% |
| ASML Holding | 1.2% |
| Equinor | 1.1% |
| Murata Manufacturing | 1.1% |
| AstraZeneca | 1.1% |
| ING Groep | 1.1% |
| Roche Holding | 0.9% |
| Barclays | 0.9% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Select International Equity ETF

## SEI Exchange Traded Funds - SEIE

## Principal Listing Exchange: NASDAQ

## Annual Shareholder Report: March 31, 2026

## SEIE-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

# Annual Shareholder Report: March 31, 2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)

## SEI Select Small Cap ETF

## SEI Exchange Traded Funds - SEIS

## Principal Listing Exchange: NASDAQ

## Fund Overview
This annual shareholder report contains important information about the SEI Select Small Cap ETF (the "Fund") for the period from April 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports. You can also request this information by contacting us at 610-676-1000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| SEI Select Small Cap ETF | $60 | 0.55% |

---

## How did the Fund perform since inception?

### Total Return Based on $10,000 Investment
![Growth Chart](i6abf4bda3dcdd31b5353ffe4.jpg)

---

| | | |
|:---|:---|:---|
| | SEI Select Small Cap ETF | Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Oct/24 | $10000 | $10000 |
| Mar/25 | $9404 | $9226 |
| Mar/26 | $11012 | $11599 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## How did the Fund perform in the last year?
The Fund underperformed its primary benchmark, the Russell 2000 Index, for the 12-month period ending March 31, 2026.

High-volatility stocks led the U.S. small-cap market by a wide margin over the reporting period, which began with a sharp setback from the Trump administration's "Liberation Day" tariff shock in early April 2025. Market sentiment improved meaningfully thereafter as tariff pressures eased, the U.S. economy remained resilient, corporate earnings held up, and leadership broadened into precious metals, aerospace and defense, and artificial intelligence (AI)-adjacent beneficiaries such as infrastructure-related businesses. Late in the period, escalating Iran tensions triggered an oil-price shock, reviving inflation concerns and pushing yields higher, benefiting energy and materials stocks in a broader risk-off move. Value factors edged ahead, driven by energy but offset by weakness in the industrials sector. Quality lagged on higher interest rates, information technology exposure, and insufficient energy exposure. Momentum marginally outperformed, aided by navigating AI disruption headwinds in industrials and healthcare.

Against this backdrop, the Fund's rewarded factor positioning, favoring value, momentum and quality factors, detracted from performance as speculative, unprofitable stocks outperformed. (Rewarded factors historically have delivered persistently higher returns over passive market benchmarks.) The Fund's underweight to energy and overweights to consumer discretionary and consumer staples weighed on performance. At the manager level, SEI Quantitative Investment Management's (QiM) factor blend portfolio lagged on quality headwinds and underweight to relatively riskier stocks which additionally had a negative impact on QiM's momentum portfolio along with risk controls. Geneva Capital Management's quality portfolio detracted from Fund performance on defensive positioning, limited energy exposure, and software holdings vulnerable to AI disruption. Easterly Investment Partners' value portfolio outperformed via riskier positions in oil refiners and metals producers.

## Average Annual Total Returns as of March 31, 2026

---

| | | |
|:---|:---|:---|
| Fund/Index Name | 1 Year | Annualized Since Inception |
| SEI Select Small Cap ETF | 17.10% | 6.75% |
| Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 25.72% | 10.57% |

---

Since its inception on October 8, 2024. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.

## Key Fund Statistics as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| Total Net Assets (000's) | Number of Holdings | Total Advisory Fees Paid (000's) | Portfolio Turnover Rate |
| $435085 | 345 | $1809 | 98% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i30fab697952e7b6406945653.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Utilities | 0.2% |
| Communication Services | 1.3% |
| Real Estate | 2.2% |
| Consumer Staples | 2.2% |
| Materials | 4.6% |
| Energy | 5.2% |
| Consumer Discretionary | 13.0% |
| Health Care | 14.7% |
| Information Technology | 16.0% |
| Financials | 19.7% |
| Industrials | 20.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| Holding Name | Percentage of Total Net Assets |
| CNO Financial Group | 1.4% |
| Bridgebio Pharma | 1.2% |
| TTM Technologies | 1.1% |
| Commercial Metals | 1.1% |
| Clear Secure, Cl A | 1.1% |
| Watts Water Technologies, Cl A | 1.0% |
| Molina Healthcare | 1.0% |
| Nextpower, Cl A | 1.0% |
| Enova International | 1.0% |
| Old National Bancorp | 1.0% |

---

## Material Fund Changes
There were no material changes to the Fund during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 610-676-1000 

* https://www.seic.com/mutual-fund-documentation/prospectuses-and-reports 

* https://www.seic.com/mutual-fund-documentation/proxy-voting 

## SEI Select Small Cap ETF

## SEI Exchange Traded Funds - SEIS

## Principal Listing Exchange: NASDAQ

## Annual Shareholder Report: March 31, 2026

## SEIS-AR-2026
![Image](i0c5c1ce7b12b04bffa9fca5f.jpg)**

(b) Not applicable.

**Item 2. Code of Ethics.**

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

**Item 3. Audit Committee Financial Expert.**

(a) (1) The Registrant's Board of Trustees has determined that the Registrant has two audit committee financial experts serving on the audit committee.

(a) (2) The audit committee financial experts are Susan C. Cote and Christine Reynolds. Mses. Cote and Reynolds are independent as defined in Form N-CSR Item 3 (a) (2).

**Item 4. Principal Accountant Fees and Services.**

Fees billed by KPMG LLP ("KPMG") related to the Registrant.

KPMG billed the Registrant aggregate fees for services rendered to the Registrant for the fiscal years 2026 and 2025 as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Fiscal Year 2026** | **Fiscal Year 2026** | **Fiscal Year 2026** | **Fiscal Year 2025** | **Fiscal Year 2025** | **Fiscal Year 2025** |
| | | All fees and services to the Registrant that were pre-approved | All fees and services to service affiliates that were pre-approved | All other fees and services to service affiliates that did not require pre-approval | All fees and services to the Registrant that were pre-approved | All fees and services to service affiliates that were pre-approved | All other fees and services to service affiliates that did not require pre-approval |
| (a) | Audit Fees(1) | $107700 | N/A | $0 | $90000 | N/A | $0 |
| (b) | Audit-Related Fees | $0 | $0 | $0 | $0 | $0 | $0 |
| (c) | Tax Fees (2) | $0 | $0 | $0 | $0 | $0 | $0 |
| (d) | All Other Fees(3) | $0 | $322203 | $0 | $0 | $245112 | $0 |

---

Notes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Audit fees include amounts related
 to the audit of the Registrant's annual financial statements and services normally provided by the accountant in connection with
 statutory and regulatory filings.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Tax fees include amounts related
 to tax compliance and consulting services.

&nbsp;&nbsp;&nbsp;&nbsp;(3) See Item 4(g) for a description
 of the services comprising the fees disclosed under this category.

(e)(1) The Registrant's Audit Committee has adopted and the Board of Trustees has ratified an Audit and Non-Audit Services Pre-Approval Policy (the "Policy"), which sets forth the procedures and the conditions pursuant to which services proposed to be performed by the independent auditor of the Registrant may be pre-approved. In any instance where services require pre-approval, the Audit Committee will consider whether such services are consistent with SEC's rules on auditor independence and whether the provision of such services would compromise the auditor's independence.

The Policy provides that all requests or applications for proposed services to be provided by the independent auditor must be submitted to the Registrant's Chief Financial Officer ("CFO") and must include a detailed description of the services proposed to be rendered. The CFO will determine whether such services: (1) require specific pre-approval; (2) are included within the list of services that have received the general pre-approval of the Audit Committee pursuant to the Policy; or (3) have been previously pre-approved in connection with the independent auditor's annual engagement letter for the applicable year or otherwise.

Requests or applications to provide services that require specific pre-approval by the Audit Committee will be submitted to the Audit Committee by the CFO. The Audit Committee has delegated specific pre-approval authority to either the Audit Committee Chair or financial experts, provided that the estimated fee for any such proposed pre-approved service does not exceed $100,000 and any pre-approval decisions are reported to the Audit Committee at its next regularly scheduled meeting.

Services that have received the general pre-approval of the Audit Committee are identified and described in the Policy. In addition, the Policy sets forth a maximum fee per engagement with respect to each identified service that has received general pre-approval. The Audit Committee will annually review and pre-approve the services that may be provided by the independent auditor during the following twelve months without obtaining specific pre-approval from the Audit Committee.

The Audit Committee will be informed by the CFO on a quarterly basis of all services rendered by the independent auditor.

All services to be provided by the independent auditor shall be provided pursuant to a signed written engagement letter with the Registrant, the investment advisor or applicable control affiliate (except that matters as to which an engagement letter would be impractical because of timing issues or because the matter is small may not be the subject of an engagement letter) that sets forth both the services to be provided by the independent auditor and the total fees (or the manner of their determination) to be paid to the independent auditor for those services.

In addition, the Audit Committee has determined to take additional measures on an annual basis to meet its responsibility to oversee the work of the independent auditor and to assure the auditor's independence from the Registrant, such as reviewing a formal written statement from the independent auditor delineating all relationships between the independent auditor and the Registrant, and discussing with the independent auditor its methods and procedures for ensuring independence.

(e)(2) Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows:

---

| | | |
|:---|:---|:---|
| | **Fiscal 2026** | **Fiscal 2025** |
| Audit-Related Fees  | 0% | 0% |
| Tax Fees | 0% | 0% |
| All Other Fees  | 0% | 0% |

---

(f) Not Applicable.

(g)(1) The aggregate non-audit fees and services billed by KPMG for the fiscal years 2026 and 2025 were $322,203 and $245,112, respectively. Non-audit fees consist of a SSAE No. 16 review of fund accounting and administration operations.

(h) During the past fiscal year, the Registrant's principal accountant provided certain non-audit services to the Registrant's investment adviser or to entities controlling, controlled by, or under common control with the Registrant's investment adviser that provide ongoing services to the Registrant that were not subject to pre-approval pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X. The Audit Committee of the Registrant's Board of Trustees reviewed and considered these non-audit services provided by the Registrant's principal accountant to the Registrant's affiliates, including whether the provision of these non-audit services is compatible with maintaining the principal accountant's independence.

(i) Not Applicable.

(j) Not Applicable.

**Item 5. Audit Committee of Listed Registrants.**

Not applicable.

**Item 6. Schedule of Investments.**

(a) The Schedules of Investments are included as part of the Financial Statements and Other Information filed under Item 7 of this form.

(b) Not applicable.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

Financial Statements and Financial Highlights filed herein.

![](fp0099233_01.jpg)

March 31, 2026

**ANNUAL FINANCIALS AND OTHER INFORMATION**

SEI Exchange Traded Funds

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI DBi Multi-Strategy Alternative ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Enhanced Low Volatility U.S. Large Cap ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Enhanced U.S. Large Cap Momentum Factor ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Enhanced U.S. Large Cap Quality Factor ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Enhanced U.S. Large Cap Value Factor ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Select Emerging Markets Equity ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Select International Equity ETF |

---

---

| | |
|:---|:---|
| ![](fp0099233_02.jpg) | SEI Select Small Cap ETF |

---

**seic.com**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| Financial Statements (Form N-CSR Item 7) |  |
| &nbsp;&nbsp;&nbsp;Schedules of Investments | 1 |
| &nbsp;&nbsp;&nbsp;Statements of Assets and Liabilities | 27 |
| &nbsp;&nbsp;&nbsp;Statements of Operations | 29 |
| &nbsp;&nbsp;&nbsp;Statements of Changes in Net Assets | 32 |
| &nbsp;&nbsp;&nbsp;Financial Highlights | 40 |
| &nbsp;&nbsp;&nbsp;Notes to Financial Statements | 41 |
| Report of Independent Registered Public Accounting Firm | 55 |
| Notice to Shareholders (Unaudited) | 57 |
| Other Information (Form N-CSR Items 8-11) (Unaudited) | 58 |

---

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI DBi Multi-Strategy Alternative ETF**

A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Contract** | **Number of Contracts** | **Expiration <br> Date** | **Notional Amount (Thousands)** | **Value (Thousands)** | **Unrealized Appreciation (Depreciation)(Thousands)** |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;3 Month SOFR | 74 | Dec-2027 | $17880 | $17859 | $(21) |
| &nbsp;&nbsp;&nbsp;AUD Currency | 182 | Jun-2026 | 13007 | 12526 | (481) |
| &nbsp;&nbsp;&nbsp;CAD Currency | 125 | Jun-2026 | 9231 | 9000 | (231) |
| &nbsp;&nbsp;&nbsp;Euro FX | 290 | Jun-2026 | 42146 | 41997 | (149) |
| &nbsp;&nbsp;&nbsp;MSCI EAFE Index | 161 | Jun-2026 | 23488 | 23354 | (134) |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | 150 | Jun-2026 | 10999 | 10909 | (90) |
| &nbsp;&nbsp;&nbsp;NASDAQ 100 Index E-Mini | 12 | Jun-2026 | 6032 | 5740 | (292) |
| &nbsp;&nbsp;&nbsp;Russell 2000 Index E-Mini | 30 | Jun-2026 | 3842 | 3768 | (74) |
| &nbsp;&nbsp;&nbsp;S&P Mid Cap 400 Index E-Mini | 10 | Jun-2026 | 3442 | 3397 | (45) |
| &nbsp;&nbsp;&nbsp;U.S. Dollar Index | 61 | Jun-2026 | 6012 | 6085 | 73 |
| &nbsp;&nbsp;&nbsp;U.S. Long Treasury Bonds | 11 | Jun-2026 | 1249 | 1253 | 4 |
|  |  |  | 137328 | 135888 | (1440) |
| Short Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;3 Month SOFR | (108) | Dec-2027 | $(26076) | $(26064) | $12 |
| &nbsp;&nbsp;&nbsp;Euro FX | (392) | Jun-2026 | (56893) | (56769) | 124 |
| &nbsp;&nbsp;&nbsp;Japanese Yen | (822) | Jun-2026 | (65100) | (65081) | 19 |
| &nbsp;&nbsp;&nbsp;MSCI EAFE Index | (51) | Jun-2026 | (7390) | (7398) | (8) |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | (13) | Jun-2026 | (910) | (946) | (36) |
| &nbsp;&nbsp;&nbsp;S&P 500 Index E-Mini | (83) | Jun-2026 | (28315) | (27268) | 1047 |
| &nbsp;&nbsp;&nbsp;U.S. 10-Year Treasury Notes | (324) | Jun-2026 | (36058) | (35980) | 78 |
| &nbsp;&nbsp;&nbsp;U.S. Long Treasury Bonds | (141) | Jun-2026 | (16104) | (16057) | 47 |
|  |  |  | (236846) | (235563) | 1283 |
|  |  |  | $(99518) | $(99675) | $(157) |

---

Percentages are based on Net Assets of $184,858 ($ Thousands).

The following is a summary of the level of inputs used as of March 31, 2026, in valuing the Fund's other financial instruments carried at value ($ Thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Other Financial Instruments** | **Level 1 <br> ($)** | **Level 2 <br> ($)** | **Level 3 <br> ($)** | **Total <br> ($)** |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized Appreciation | 1404 |  |  | 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized Depreciation | (1561) |  |  | (1561) |
| Total Other Financial Instruments | (157) |  |  | (157) |

---

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 1

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Enhanced Low Volatility U.S. Large Cap ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> — 99.4%** |  |  |
| **Communication Services — 12.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3093 | $889 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 17970 | 5155 |
| &nbsp;&nbsp;&nbsp;AT&T | 225374 | 6534 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 147277 | 4228 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 42098 | 2459 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 24949 | 1325 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 5867 | 1232 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 112358 | 5640 |
|  |  | 27462 |
| **Consumer Discretionary — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 766 | 3225 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 5834 | 2093 |
| &nbsp;&nbsp;&nbsp;McDonald's | 8701 | 2704 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 2944 | 458 |
|  |  | 8480 |
| **Consumer Staples — 12.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 77789 | 5133 |
| &nbsp;&nbsp;&nbsp;Clorox | 11589 | 1201 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 56354 | 4803 |
| &nbsp;&nbsp;&nbsp;General Mills | 36780 | 1369 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 9060 | 522 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*</sup> | 10782 | 781 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 13248 | 2191 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 31391 | 4534 |
| &nbsp;&nbsp;&nbsp;Walmart | 55640 | 6915 |
|  |  | 27449 |
| **Energy — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Chevron | 26184 | 5418 |
| **Financials — 10.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Allstate | 6937 | 1438 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B <sup>\*</sup> | 832 | 398 |
| &nbsp;&nbsp;&nbsp;Chubb | 11232 | 3661 |
| &nbsp;&nbsp;&nbsp;Loews | 5675 | 606 |
| &nbsp;&nbsp;&nbsp;Markel Group <sup>\*</sup> | 1490 | 2852 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 2116 | 367 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 9386 | 4690 |
| &nbsp;&nbsp;&nbsp;Travelers | 7381 | 2153 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 15209 | 4597 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 28685 | 1901 |
|  |  | 22663 |
| **Health Care — 18.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb | 58378 | 3541 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 30686 | 6484 |
| &nbsp;&nbsp;&nbsp;Cencora | 9316 | 2927 |
| &nbsp;&nbsp;&nbsp;Chemed | 852 | 322 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 45900 | 6397 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 28457 | 6956 |
| &nbsp;&nbsp;&nbsp;McKesson | 7126 | 6167 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Merck | 47691 | $5737 |
| &nbsp;&nbsp;&nbsp;Pfizer | 39724 | 1115 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 12371 | 2424 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma, Cl A | 5130 | 246 |
|  |  | 42316 |
| **Industrials — 7.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington | 27550 | 3946 |
| &nbsp;&nbsp;&nbsp;Genpact | 10190 | 380 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 1176 | 711 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 24052 | 5268 |
| &nbsp;&nbsp;&nbsp;Snap-on | 1840 | 668 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 16108 | 3056 |
| &nbsp;&nbsp;&nbsp;Waste Management | 14705 | 3379 |
|  |  | 17408 |
| **Information Technology — 26.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Accenture, Cl A | 18299 | 3629 |
| &nbsp;&nbsp;&nbsp;Amdocs | 27034 | 1764 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 2258 | 718 |
| &nbsp;&nbsp;&nbsp;Apple | 24297 | 6166 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics <sup>\*</sup> | 13857 | 1987 |
| &nbsp;&nbsp;&nbsp;Avnet | 18714 | 1153 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 83000 | 6440 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 76358 | 4685 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Cl A | 13435 | 807 |
| &nbsp;&nbsp;&nbsp;Dropbox, Cl A <sup>\*</sup> | 45146 | 1026 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*</sup> | 11144 | 3224 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 99945 | 1882 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 14682 | 3559 |
| &nbsp;&nbsp;&nbsp;Microsoft | 12966 | 4800 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 12142 | 5269 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 13880 | 4912 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*</sup> | 6942 | 4200 |
| &nbsp;&nbsp;&nbsp;VeriSign | 15854 | 3937 |
|  |  | 60158 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;NewMarket | 1258 | 806 |
| **Utilities — 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 9228 | 1705 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 1967 | 153 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 39634 | 4486 |
| &nbsp;&nbsp;&nbsp;DTE Energy | 5371 | 785 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 33536 | 4391 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 5801 | 294 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas | 18444 | 1733 |

---

2 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;NiSource | 5517 | $257 |
|  |  | 13804 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $207,076) ($ Thousands) |  | 225964 |
| Total Investments in Securities — 99.4% | Total Investments in Securities — 99.4% | Total Investments in Securities — 99.4% |
| &nbsp;&nbsp;&nbsp;(Cost $207,076) ($ Thousands) |  | $225964 |

---

Percentages are based on Net Assets of $227,341 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>††</sup> Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 3

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Enhanced U.S. Large Cap Momentum Factor ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> — 99.2%** |  |  |
| **Communication Services — 8.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 282533 | $81245 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 111472 | 6510 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 122214 | 6490 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 64546 | 4861 |
| &nbsp;&nbsp;&nbsp;Reddit, Cl A <sup>\*</sup> | 9851 | 1326 |
| &nbsp;&nbsp;&nbsp;ROBLOX, Cl A <sup>\*</sup> | 27 | 2 |
|  |  | 100434 |
| **Consumer Discretionary — 14.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*</sup> | 24448 | 5092 |
| &nbsp;&nbsp;&nbsp;Amer Sports <sup>\*</sup> | 98968 | 3258 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 4399 | 18521 |
| &nbsp;&nbsp;&nbsp;Dillard's, Cl A | 9 | 5 |
| &nbsp;&nbsp;&nbsp;eBay | 261142 | 23769 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 85799 | 19810 |
| &nbsp;&nbsp;&nbsp;Five Below <sup>\*</sup> | 51927 | 11864 |
| &nbsp;&nbsp;&nbsp;Garmin | 8320 | 1931 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 36970 | 12717 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 120340 | 26069 |
| &nbsp;&nbsp;&nbsp;Tapestry | 209579 | 29574 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*</sup> | 40753 | 21302 |
|  |  | 173912 |
| **Consumer Staples — 4.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Hershey | 109122 | 22686 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 709030 | 18669 |
| &nbsp;&nbsp;&nbsp;Walmart | 87780 | 10909 |
|  |  | 52264 |
| **Financials — 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 246204 | 29207 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 17974 | 5308 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 29508 | 24963 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A | 93171 | 6249 |
| &nbsp;&nbsp;&nbsp;Invesco | 341004 | 8283 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 45893 | 3896 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 171202 | 23895 |
| &nbsp;&nbsp;&nbsp;SoFi Technologies <sup>\*</sup> | 42 | 1 |
|  |  | 101802 |
| **Health Care — 11.2%** |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie | 19597 | 4262 |
| &nbsp;&nbsp;&nbsp;Boston Scientific <sup>\*</sup> | 171 | 11 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 120455 | 25453 |
| &nbsp;&nbsp;&nbsp;Cencora | 82760 | 25998 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*</sup> | 2582 | 1451 |
| &nbsp;&nbsp;&nbsp;Insulet <sup>\*</sup> | 62790 | 13176 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 140815 | 34421 |
| &nbsp;&nbsp;&nbsp;Stryker | 34272 | 11261 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Cl A <sup>\*</sup> | 83917 | 14741 |
|  |  | 130774 |
| **Industrials — 11.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Caterpillar | 31282 | 22162 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Cummins | 8764 | $4715 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright | 17914 | 12201 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 59002 | 13598 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | 37493 | 14244 |
| &nbsp;&nbsp;&nbsp;nVent Electric | 150380 | 17787 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 28462 | 25480 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings, Cl A | 8778 | 2200 |
| &nbsp;&nbsp;&nbsp;Woodward | 57701 | 20652 |
|  |  | 133039 |
| **Information Technology — 34.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 148850 | 18807 |
| &nbsp;&nbsp;&nbsp;Apple | 144413 | 36651 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 66760 | 22818 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*</sup> | 25729 | 10240 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*</sup> | 39802 | 4887 |
| &nbsp;&nbsp;&nbsp;Astera Labs <sup>\*</sup> | 19173 | 2101 |
| &nbsp;&nbsp;&nbsp;Broadcom | 21098 | 6530 |
| &nbsp;&nbsp;&nbsp;Ciena <sup>\*</sup> | 80439 | 31229 |
| &nbsp;&nbsp;&nbsp;Corning | 197042 | 26792 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 94379 | 22877 |
| &nbsp;&nbsp;&nbsp;Jabil | 98801 | 26244 |
| &nbsp;&nbsp;&nbsp;Lam Research | 128383 | 27430 |
| &nbsp;&nbsp;&nbsp;Lumentum Holdings <sup>\*</sup> | 2982 | 2096 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings <sup>\*</sup> | 6003 | 1333 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 37209 | 12571 |
| &nbsp;&nbsp;&nbsp;Microsoft | 102802 | 38054 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 449970 | 78475 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*</sup> | 88600 | 12960 |
| &nbsp;&nbsp;&nbsp;Samsara, Cl A <sup>\*</sup> | 65545 | 2077 |
| &nbsp;&nbsp;&nbsp;Sandisk <sup>\*</sup> | 29254 | 18586 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A <sup>\*</sup> | 28939 | 4365 |
|  |  | 407123 |
| **Materials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Newmont | 264878 | 28673 |
| **Utilities — 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Entergy | 285456 | 32074 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,049,088) ($ Thousands) |  | 1160095 |
| Total Investments in Securities — 99.2% | Total Investments in Securities — 99.2% | Total Investments in Securities — 99.2% |
| &nbsp;&nbsp;&nbsp;(Cost $1,049,088) ($ Thousands) |  | $1160095 |

---

Percentages are based on Net Assets of $1,169,122 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>††</sup> Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

4 SEI Exchange Traded Funds

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 5

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Enhanced U.S. Large Cap Quality Factor ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> — 99.6%** |  |  |
| **Communication Services — 7.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 60382 | $17321 |
| &nbsp;&nbsp;&nbsp;Match Group | 114576 | 3518 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 40001 | 22886 |
|  |  | 43725 |
| **Consumer Discretionary — 16.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*</sup> | 46918 | 5925 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*</sup> | 14565 | 3033 |
| &nbsp;&nbsp;&nbsp;AutoZone <sup>\*</sup> | 383 | 1294 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 3260 | 13726 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 17685 | 6345 |
| &nbsp;&nbsp;&nbsp;eBay | 80167 | 7297 |
| &nbsp;&nbsp;&nbsp;Etsy <sup>\*</sup> | 10917 | 546 |
| &nbsp;&nbsp;&nbsp;H&R Block | 75644 | 2401 |
| &nbsp;&nbsp;&nbsp;Home Depot | 2602 | 856 |
| &nbsp;&nbsp;&nbsp;McDonald's | 20093 | 6245 |
| &nbsp;&nbsp;&nbsp;NVR <sup>\*</sup> | 618 | 4072 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*</sup> | 33975 | 3136 |
| &nbsp;&nbsp;&nbsp;TJX | 97429 | 15559 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*</sup> | 18240 | 9534 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 86212 | 13404 |
|  |  | 93373 |
| **Consumer Staples — 10.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 221894 | 14643 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 157265 | 13404 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 30882 | 2979 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*</sup> | 68505 | 4964 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 47282 | 7818 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 87770 | 12677 |
|  |  | 56485 |
| **Financials — 8.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 30564 | 15272 |
| &nbsp;&nbsp;&nbsp;Moody's | 27466 | 11982 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 5186 | 2795 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 52139 | 15758 |
|  |  | 45807 |
| **Health Care — 10.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences <sup>\*</sup> | 60716 | 4862 |
| &nbsp;&nbsp;&nbsp;Exelixis <sup>\*</sup> | 87584 | 3757 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*</sup> | 2751 | 1546 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 92540 | 22620 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International <sup>\*</sup> | 2225 | 2806 |
| &nbsp;&nbsp;&nbsp;ResMed | 48006 | 10776 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*</sup> | 16479 | 7359 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 32947 | 3895 |
|  |  | 57621 |
| **Industrials — 12.7%** |  |  |
| &nbsp;&nbsp;&nbsp;A O Smith | 53094 | 3501 |
| &nbsp;&nbsp;&nbsp;Cintas | 7122 | 1204 |
| &nbsp;&nbsp;&nbsp;Donaldson | 53919 | 4576 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Fastenal | 48490 | $2250 |
| &nbsp;&nbsp;&nbsp;Graco | 83780 | 7092 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works | 49664 | 12927 |
| &nbsp;&nbsp;&nbsp;Lennox International | 4358 | 2023 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 115836 | 8929 |
| &nbsp;&nbsp;&nbsp;Paychex | 7336 | 676 |
| &nbsp;&nbsp;&nbsp;Rollins | 13493 | 721 |
| &nbsp;&nbsp;&nbsp;Snap-on | 10142 | 3684 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 48750 | 9250 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 12875 | 14044 |
|  |  | 70877 |
| **Information Technology — 33.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*</sup> | 46319 | 11259 |
| &nbsp;&nbsp;&nbsp;Apple | 157486 | 39968 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*</sup> | 46729 | 11187 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*</sup> | 5266 | 1463 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 211393 | 16402 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Cl A | 28382 | 1705 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*</sup> | 28701 | 8304 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*</sup> | 959 | 1024 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*</sup> | 17063 | 1394 |
| &nbsp;&nbsp;&nbsp;Intuit | 5470 | 2365 |
| &nbsp;&nbsp;&nbsp;KLA | 2451 | 3609 |
| &nbsp;&nbsp;&nbsp;Lam Research | 13482 | 2881 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates <sup>\*</sup> | 28027 | 3731 |
| &nbsp;&nbsp;&nbsp;Microsoft | 76104 | 28172 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 5962 | 2587 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 146582 | 25564 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 96569 | 12436 |
| &nbsp;&nbsp;&nbsp;VeriSign | 45820 | 11380 |
|  |  | 185431 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $549,707) ($ Thousands) |  | 553319 |
| Total Investments in Securities — 99.6% | Total Investments in Securities — 99.6% | Total Investments in Securities — 99.6% |
| &nbsp;&nbsp;&nbsp;(Cost $549,707) ($ Thousands) |  | $553319 |

---

Percentages are based on Net Assets of $555,562 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>††</sup> Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

6 SEI Exchange Traded Funds

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Enhanced U.S. Large Cap Value Factor ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> — 99.3%** |  |  |
| **Communication Services — 11.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 105932 | $30388 |
| &nbsp;&nbsp;&nbsp;AT&T | 983429 | 28510 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 180849 | 5192 |
| &nbsp;&nbsp;&nbsp;Fox | 174278 | 10178 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 115576 | 6137 |
| &nbsp;&nbsp;&nbsp;Liberty Global, Cl A <sup>\*</sup> | 106353 | 1286 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 3744 | 2142 |
| &nbsp;&nbsp;&nbsp;Millicom International Cellular | 88745 | 6651 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Cl A | 12494 | 2259 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 54594 | 4111 |
| &nbsp;&nbsp;&nbsp;Sirius XM Holdings | 94538 | 2182 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 667872 | 33527 |
|  |  | 132563 |
| **Consumer Discretionary — 9.3%** |  |  |
| &nbsp;&nbsp;&nbsp;ADT | 451687 | 2968 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*</sup> | 21936 | 4569 |
| &nbsp;&nbsp;&nbsp;BorgWarner | 189590 | 10287 |
| &nbsp;&nbsp;&nbsp;Carnival | 454736 | 11768 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 47942 | 11069 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 1799005 | 20760 |
| &nbsp;&nbsp;&nbsp;General Motors | 401271 | 29895 |
| &nbsp;&nbsp;&nbsp;H&R Block | 129677 | 4116 |
| &nbsp;&nbsp;&nbsp;Lear | 45723 | 5536 |
| &nbsp;&nbsp;&nbsp;Macy's | 237747 | 4301 |
| &nbsp;&nbsp;&nbsp;Travel + Leisure | 56846 | 3933 |
|  |  | 109202 |
| **Consumer Staples — 4.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Albertsons, Cl A | 356900 | 6082 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | 105312 | 7655 |
| &nbsp;&nbsp;&nbsp;Ingredion | 56475 | 6362 |
| &nbsp;&nbsp;&nbsp;Kroger | 343595 | 24863 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride | 36205 | 1367 |
| &nbsp;&nbsp;&nbsp;Post Holdings <sup>\*</sup> | 44211 | 4371 |
| &nbsp;&nbsp;&nbsp;Seaboard | 115 | 650 |
| &nbsp;&nbsp;&nbsp;US Foods Holding <sup>\*</sup> | 66945 | 6173 |
|  |  | 57523 |
| **Energy — 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;APA | 313962 | 13325 |
| &nbsp;&nbsp;&nbsp;Chord Energy | 53189 | 7562 |
| &nbsp;&nbsp;&nbsp;Devon Energy | 519581 | 26145 |
| &nbsp;&nbsp;&nbsp;HF Sinclair | 24984 | 1559 |
|  |  | 48591 |
| **Financials — 14.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group | 26110 | 7225 |
| &nbsp;&nbsp;&nbsp;Ally Financial | 228244 | 8954 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings | 64941 | 6586 |
| &nbsp;&nbsp;&nbsp;Bank OZK | 89163 | 4092 |
| &nbsp;&nbsp;&nbsp;Citigroup | 168030 | 19056 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial | 248107 | 5920 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Lincoln National | 147966 | $5253 |
| &nbsp;&nbsp;&nbsp;Old Republic International | 99481 | 3969 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings, Cl A | 98538 | 5271 |
| &nbsp;&nbsp;&nbsp;Popular | 60102 | 8064 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 165242 | 16142 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 649239 | 16958 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America | 55283 | 11287 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings | 41075 | 12209 |
| &nbsp;&nbsp;&nbsp;Rithm Capital <sup>‡</sup> | 417563 | 3958 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 325983 | 22173 |
| &nbsp;&nbsp;&nbsp;Unum Group | 164307 | 11999 |
| &nbsp;&nbsp;&nbsp;Western Union | 291871 | 2548 |
|  |  | 171664 |
| **Health Care — 12.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb | 99735 | 6049 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 143591 | 30342 |
| &nbsp;&nbsp;&nbsp;Cencora | 20232 | 6356 |
| &nbsp;&nbsp;&nbsp;CVS Health | 59706 | 4288 |
| &nbsp;&nbsp;&nbsp;DaVita <sup>\*</sup> | 2905 | 446 |
| &nbsp;&nbsp;&nbsp;Exelixis <sup>\*</sup> | 7271 | 312 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 15732 | 1120 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 118524 | 16519 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare | 30295 | 14337 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals <sup>\*</sup> | 51649 | 9764 |
| &nbsp;&nbsp;&nbsp;McKesson | 17134 | 14827 |
| &nbsp;&nbsp;&nbsp;Medtronic | 11661 | 1010 |
| &nbsp;&nbsp;&nbsp;Pfizer | 375438 | 10542 |
| &nbsp;&nbsp;&nbsp;Solventum <sup>\*</sup> | 20576 | 1344 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare <sup>\*</sup> | 71563 | 13505 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B | 10427 | 1866 |
| &nbsp;&nbsp;&nbsp;Viatris, Cl W | 659545 | 8910 |
|  |  | 141537 |
| **Industrials — 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;American Airlines Group <sup>\*</sup> | 555561 | 5967 |
| &nbsp;&nbsp;&nbsp;Concentrix | 42907 | 1174 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 125648 | 8353 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings | 86497 | 13452 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 11842 | 7157 |
| &nbsp;&nbsp;&nbsp;Ryder System | 18078 | 3701 |
| &nbsp;&nbsp;&nbsp;Textron | 13220 | 1157 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings <sup>\*</sup> | 94992 | 8746 |
|  |  | 49707 |
| **Information Technology — 29.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*</sup> | 101904 | 24771 |
| &nbsp;&nbsp;&nbsp;Amdocs | 103192 | 6734 |
| &nbsp;&nbsp;&nbsp;Amkor Technology | 95436 | 4297 |
| &nbsp;&nbsp;&nbsp;Apple | 135343 | 34349 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics <sup>\*</sup> | 59908 | 8591 |
| &nbsp;&nbsp;&nbsp;Avnet | 79293 | 4886 |
| &nbsp;&nbsp;&nbsp;Cirrus Logic <sup>\*</sup> | 15714 | 2273 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 23255 | 1804 |

---

SEI Exchange Traded Funds 7

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Enhanced U.S. Large Cap Value Factor ETF** (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 226666 | $13906 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 167413 | 27477 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Cl A | 56056 | 3367 |
| &nbsp;&nbsp;&nbsp;Dropbox, Cl A <sup>\*</sup> | 170803 | 3881 |
| &nbsp;&nbsp;&nbsp;DXC Technology <sup>\*</sup> | 156939 | 1973 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*</sup> | 25892 | 7491 |
| &nbsp;&nbsp;&nbsp;Flex <sup>\*</sup> | 352899 | 23101 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 526086 | 9906 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 1105315 | 26318 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 50870 | 17186 |
| &nbsp;&nbsp;&nbsp;Microsoft | 70555 | 26117 |
| &nbsp;&nbsp;&nbsp;NetApp | 174644 | 17882 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 217531 | 37937 |
| &nbsp;&nbsp;&nbsp;Pegasystems | 82886 | 3528 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 120796 | 15556 |
| &nbsp;&nbsp;&nbsp;RingCentral, Cl A | 38427 | 1429 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 44650 | 2391 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX | 47963 | 8092 |
| &nbsp;&nbsp;&nbsp;Teradata <sup>\*</sup> | 86297 | 2212 |
| &nbsp;&nbsp;&nbsp;Vontier | 126859 | 4500 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Cl A <sup>\*</sup> | 106803 | 8586 |
|  |  | 350541 |
| **Materials — 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Alcoa | 212975 | 14127 |
| &nbsp;&nbsp;&nbsp;Crown Holdings | 101657 | 10191 |
| &nbsp;&nbsp;&nbsp;Mosaic | 120287 | 3067 |
| &nbsp;&nbsp;&nbsp;Newmont | 52850 | 5721 |
|  |  | 33106 |
| **Utilities — 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 14107 | 1597 |
| &nbsp;&nbsp;&nbsp;Edison International | 264891 | 19385 |
| &nbsp;&nbsp;&nbsp;Exelon | 513449 | 25169 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 67874 | 3438 |
| &nbsp;&nbsp;&nbsp;MDU Resources Group | 177626 | 3680 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 62734 | 9168 |
| &nbsp;&nbsp;&nbsp;UGI | 189748 | 6911 |
|  |  | 69348 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,013,797) ($ Thousands) |  | 1163782 |
| Total Investments in Securities — 99.3% | Total Investments in Securities — 99.3% | Total Investments in Securities — 99.3% |
| &nbsp;&nbsp;&nbsp;(Cost $1,013,797) ($ Thousands) |  | $1163782 |

---

Percentages are based on Net Assets of $1,172,541 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>††</sup> Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

<sup>‡</sup> Real Estate Investment Trust.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

8 SEI Exchange Traded Funds

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Select Emerging Markets Equity ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> — 92.8%** |  |  |
| **Brazil — 3.7%** |  |  |
| **Communication Services — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Telefonica Brasil | 268930 | $2118 |
| &nbsp;&nbsp;&nbsp;TIM | 371870 | 1954 |
|  |  | 4072 |
| **Consumer Discretionary — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Cyrela Brazil Realty Empreendimentos e Participacoes | 215160 | 1129 |
| &nbsp;&nbsp;&nbsp;Ultrapar Participacoes | 332782 | 1826 |
| &nbsp;&nbsp;&nbsp;Vibra Energia | 427118 | 2578 |
|  |  | 5533 |
| **Consumer Staples — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Natura Cosmeticos <sup>\*</sup> | 255601 | 509 |
| &nbsp;&nbsp;&nbsp;Raia Drogasil | 207029 | 929 |
|  |  | 1438 |
| **Financials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco BTG Pactual | 85780 | 929 |
| &nbsp;&nbsp;&nbsp;Brasil Bolsa Balcao | 271300 | 956 |
|  |  | 1885 |
| **Information Technology — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;TOTVS | 142078 | 953 |
| **Utilities — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Axia Energia | 200060 | 2242 |
| &nbsp;&nbsp;&nbsp;CPFL Energia | 106067 | 989 |
|  |  | 3231 |
| Total Brazil |  | 17112 |
| **Chile — 0.8%** |  |  |
| **Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Falabella | 125820 | 764 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco de Chile | 5998082 | 1080 |
| **Industrials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Latam Airlines Group | 36625803 | 895 |
| **Real Estate — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Plaza | 219065 | 925 |
| Total Chile |  | 3664 |
| **China — 24.2%** |  |  |
| **Communication Services — 5.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Baidu, Cl A <sup>\*</sup> | 86973 | 1173 |
| &nbsp;&nbsp;&nbsp;Hello Group ADR | 95895 | 552 |
| &nbsp;&nbsp;&nbsp;JOYY ADR | 15073 | 880 |
| &nbsp;&nbsp;&nbsp;NetEase | 256472 | 5578 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings | 277231 | 17114 |
|  |  | 25297 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **Consumer Discretionary — 7.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding | 698727 | $10605 |
| &nbsp;&nbsp;&nbsp;China Tourism Group Duty Free, Cl H | 76300 | 632 |
| &nbsp;&nbsp;&nbsp;Geely Automobile Holdings | 1430920 | 3818 |
| &nbsp;&nbsp;&nbsp;Haier Smart Home, Cl H | 1062819 | 2809 |
| &nbsp;&nbsp;&nbsp;Hangzhou Robam Appliances, Cl A | 308200 | 942 |
| &nbsp;&nbsp;&nbsp;JD.com, Cl A | 109055 | 1575 |
| &nbsp;&nbsp;&nbsp;Meituan, Cl B <sup>\*</sup> | 64285 | 680 |
| &nbsp;&nbsp;&nbsp;Midea Group, Cl A | 93300 | 1031 |
| &nbsp;&nbsp;&nbsp;New Oriental Education & Technology Group | 369000 | 2052 |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR <sup>\*</sup> | 24785 | 2533 |
| &nbsp;&nbsp;&nbsp;Pop Mart International Group | 36680 | 672 |
| &nbsp;&nbsp;&nbsp;TCL Electronics Holdings | 631900 | 1028 |
| &nbsp;&nbsp;&nbsp;Trip.com Group | 27030 | 1313 |
| &nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | 155764 | 2449 |
|  |  | 32139 |
| **Consumer Staples — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Foshan Haitian Flavouring & Food, Cl A | 185700 | 1102 |
| &nbsp;&nbsp;&nbsp;Hengan International Group | 264300 | 927 |
| &nbsp;&nbsp;&nbsp;JD Health International <sup>\*</sup> | 229800 | 1380 |
| &nbsp;&nbsp;&nbsp;Want Want China Holdings | 1797600 | 1057 |
|  |  | 4466 |
| **Energy — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;PetroChina, Cl H | 1006600 | 1380 |
| **Financials — 4.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China, Cl H | 1666300 | 1184 |
| &nbsp;&nbsp;&nbsp;China CITIC Bank, Cl H | 2481000 | 2500 |
| &nbsp;&nbsp;&nbsp;China Construction Bank, Cl A | 895500 | 1251 |
| &nbsp;&nbsp;&nbsp;China Life Insurance, Cl H | 852005 | 2673 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group, Cl A | 142200 | 764 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group, Cl H | 198565 | 807 |
| &nbsp;&nbsp;&nbsp;CITIC Securities, Cl H | 257800 | 782 |
| &nbsp;&nbsp;&nbsp;FinVolution Group ADR | 71039 | 340 |
| &nbsp;&nbsp;&nbsp;Hithink RoyalFlush Information Network, Cl A | 19900 | 860 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China, Cl H | 2251617 | 1970 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance, Cl A | 86000 | 766 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance, Cl H | 185100 | 1093 |
| &nbsp;&nbsp;&nbsp;People's Insurance Group of China, Cl H | 3217931 | 2216 |
| &nbsp;&nbsp;&nbsp;PICC Property & Casualty, Cl H | 753348 | 1370 |
| &nbsp;&nbsp;&nbsp;Ping An Insurance Group of China, Cl H | 315571 | 2393 |
|  |  | 20969 |
| **Health Care — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Hansoh Pharmaceutical Group | 340400 | 1541 |
| &nbsp;&nbsp;&nbsp;Innovent Biologics <sup>\*</sup> | 193500 | 2095 |
| &nbsp;&nbsp;&nbsp;Sino Biopharmaceutical | 1039220 | 781 |
| &nbsp;&nbsp;&nbsp;WuXi AppTec, Cl A | 69300 | 984 |
|  |  | 5401 |
| **Industrials — 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Airtac International Group | 29050 | 902 |

---

SEI Exchange Traded Funds 9

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select Emerging Markets Equity ETF** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Centre Testing International Group, Cl A | 730078 | $1475 |
| &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology, Cl A | 43800 | 2547 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings, Cl A | 546400 | 1187 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings, Cl H | 882200 | 1677 |
| &nbsp;&nbsp;&nbsp;Dongfang Electric, Cl H | 174400 | 756 |
| &nbsp;&nbsp;&nbsp;Sany Heavy Industry, Cl A | 282400 | 786 |
| &nbsp;&nbsp;&nbsp;Sinopec Engineering Group, Cl H | 840940 | 631 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings | 436606 | 1279 |
| &nbsp;&nbsp;&nbsp;Zoomlion Heavy Industry Science and Technology, Cl H | 908100 | 1002 |
|  |  | 12242 |
| **Information Technology — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Shengyi Technology, Cl A | 96300 | 755 |
| &nbsp;&nbsp;&nbsp;Shenzhen Sunlord Electronics, Cl A | 167500 | 822 |
| &nbsp;&nbsp;&nbsp;Zhongji Innolight, Cl A | 10400 | 857 |
|  |  | 2434 |
| **Materials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group | 198595 | 880 |
| &nbsp;&nbsp;&nbsp;CMOC Group, Cl A | 300300 | 745 |
| &nbsp;&nbsp;&nbsp;Fufeng Group | 848500 | 749 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group, Cl A | 242700 | 1150 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group, Cl H | 250300 | 1097 |
|  |  | 4621 |
| **Real Estate — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;China Resources Land | 244030 | 891 |
| **Utilities — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Beijing Enterprises Holdings | 185900 | 709 |
| Total China |  | 110549 |
| **Colombia — 0.3%** |  |  |
| **Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Grupo Cibest ADR | 18747 | 1365 |
| **Egypt — 0.6%** |  |  |
| **Financials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Commercial International Bank | 1315702 | 2917 |
| **Greece — 0.8%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Hellenic Telecommunications Organization | 47649 | 896 |
| **Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Allwyn | 58639 | 885 |
| &nbsp;&nbsp;&nbsp;JUMBO | 30174 | 764 |
|  |  | 1649 |
| **Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Eurobank | 335188 | 1316 |
| Total Greece |  | 3861 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **Hong Kong — 0.5%** |  |  |
| **Consumer Staples — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;WH Group | 1722440 | $2254 |
| **Hungary — 1.6%** |  |  |
| **Energy — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas | 214986 | 2537 |
| **Financials — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;OTP Bank Nyrt | 37774 | 3992 |
| **Health Care — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Richter Gedeon Nyrt | 26860 | 949 |
| Total Hungary |  | 7478 |
| **India — 10.0%** |  |  |
| **Communication Services — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Bharti Airtel | 37295 | 701 |
| &nbsp;&nbsp;&nbsp;Indus Towers <sup>\*</sup> | 188237 | 830 |
|  |  | 1531 |
| **Consumer Discretionary — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Eicher Motors | 24027 | 1668 |
| &nbsp;&nbsp;&nbsp;Hero MotoCorp | 49659 | 2651 |
| &nbsp;&nbsp;&nbsp;Mahindra & Mahindra | 23198 | 723 |
| &nbsp;&nbsp;&nbsp;Maruti Suzuki India | 8447 | 1096 |
| &nbsp;&nbsp;&nbsp;MRF | 495 | 670 |
|  |  | 6808 |
| **Consumer Staples — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Britannia Industries | 25312 | 1447 |
| &nbsp;&nbsp;&nbsp;Marico | 255562 | 1983 |
| &nbsp;&nbsp;&nbsp;Nestle India | 68780 | 852 |
|  |  | 4282 |
| **Energy — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Bharat Petroleum | 706361 | 2093 |
| &nbsp;&nbsp;&nbsp;Great Eastern Shipping | 65470 | 976 |
| &nbsp;&nbsp;&nbsp;Indian Oil | 432411 | 617 |
| &nbsp;&nbsp;&nbsp;Oil & Natural Gas | 1327744 | 3985 |
| &nbsp;&nbsp;&nbsp;Reliance Industries | 48860 | 692 |
|  |  | 8363 |
| **Financials — 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of Baroda | 558093 | 1457 |
| &nbsp;&nbsp;&nbsp;Canara Bank | 1230903 | 1602 |
| &nbsp;&nbsp;&nbsp;General Insurance | 128412 | 491 |
| &nbsp;&nbsp;&nbsp;HDFC Bank | 221935 | 1712 |
| &nbsp;&nbsp;&nbsp;ICICI Bank ADR | 40447 | 1048 |
| &nbsp;&nbsp;&nbsp;Karur Vysya Bank | 290830 | 887 |
| &nbsp;&nbsp;&nbsp;L&T Finance | 247591 | 627 |
| &nbsp;&nbsp;&nbsp;LIC Housing Finance | 170819 | 892 |
| &nbsp;&nbsp;&nbsp;Muthoot Finance | 64627 | 2153 |
| &nbsp;&nbsp;&nbsp;Shriram Finance | 117421 | 1080 |
|  |  | 11949 |

---

10 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **Health Care — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Aurobindo Pharma | 76531 | $1053 |
| &nbsp;&nbsp;&nbsp;Dr Reddy's Laboratories | 135085 | 1787 |
| &nbsp;&nbsp;&nbsp;Sun Pharmaceutical Industries | 73090 | 1354 |
|  |  | 4194 |
| **Industrials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Ashok Leyland | 659220 | 1071 |
| **Information Technology — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Infosys ADR | 154271 | 2084 |
| **Materials — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Chambal Fertilisers and Chemicals | 103132 | 464 |
| &nbsp;&nbsp;&nbsp;Hindalco Industries | 75424 | 703 |
| &nbsp;&nbsp;&nbsp;National Aluminium | 432010 | 1759 |
| &nbsp;&nbsp;&nbsp;NMDC | 842459 | 677 |
| &nbsp;&nbsp;&nbsp;Vedanta | 244430 | 1688 |
|  |  | 5291 |
| Total India |  | 45573 |
| **Indonesia — 1.4%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Telkom Indonesia Persero | 4918125 | 886 |
| **Energy — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;United Tractors | 494430 | 903 |
| **Financials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank Central Asia | 2656923 | 1008 |
| &nbsp;&nbsp;&nbsp;Bank Mandiri Persero | 3361335 | 934 |
| &nbsp;&nbsp;&nbsp;Bank Rakyat Indonesia Persero | 3940807 | 772 |
|  |  | 2714 |
| **Industrials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Astra International | 3159203 | 1162 |
| **Utilities — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Perusahaan Gas Negara | 5938874 | 645 |
| Total Indonesia |  | 6310 |
| **Kuwait — 0.4%** |  |  |
| **Communication Services — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Mobile Telecommunications KSCP | 914615 | 1684 |
| **Malaysia — 0.3%** |  |  |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Public Bank | 701850 | 811 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Zetrix Ai | 3352403 | 613 |
| Total Malaysia |  | 1424 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **Mexico — 1.9%** |  |  |
| **Consumer Staples — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano | 262578 | $2891 |
| **Financials — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco del Bajio | 425170 | 1305 |
| &nbsp;&nbsp;&nbsp;Gentera | 332428 | 937 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Banorte, Cl O | 304946 | 3355 |
|  |  | 5597 |
| Total Mexico |  | 8488 |
| **Philippines — 0.5%** |  |  |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank & Trust | 837184 | 875 |
| **Industrials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;International Container Terminal Services | 130467 | 1478 |
| Total Philippines |  | 2353 |
| **Poland — 1.9%** |  |  |
| **Energy — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;ORLEN | 48144 | 1735 |
| **Financials — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Alior Bank | 27520 | 817 |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki | 71769 | 4187 |
|  |  | 5004 |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;KGHM Polska Miedz <sup>\*</sup> | 11801 | 848 |
| **Utilities — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Enea | 145579 | 960 |
| Total Poland |  | 8547 |
| **Qatar — 0.5%** |  |  |
| **Communication Services — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Ooredoo QPSC | 516646 | 1762 |
| **Real Estate — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Barwa Real Estate | 809504 | 516 |
| Total Qatar |  | 2278 |
| **Saudi Arabia — 1.6%** |  |  |
| **Communication Services — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Etihad Etisalat | 89236 | 1553 |
| **Energy — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Saudi Arabian Oil | 343600 | 2509 |
| **Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Riyad Bank | 183675 | 1443 |

---

SEI Exchange Traded Funds 11

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Select Emerging Markets Equity ETF** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;SABIC Agri-Nutrients | 27391 | $1058 |
| **Real Estate — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Arabian Centres | 135745 | 618 |
| Total Saudi Arabia |  | 7181 |
| **South Africa — 4.1%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Vodacom Group | 102005 | 860 |
| **Consumer Discretionary — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Naspers, Cl N | 59740 | 3008 |
| **Consumer Staples — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;AVI | 238417 | 1446 |
| &nbsp;&nbsp;&nbsp;Bid | 40265 | 959 |
| &nbsp;&nbsp;&nbsp;Clicks Group | 35523 | 601 |
| &nbsp;&nbsp;&nbsp;Tiger Brands | 66680 | 1165 |
|  |  | 4171 |
| **Energy — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Exxaro Resources | 80090 | 1051 |
| **Financials — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Absa Group | 105459 | 1486 |
| &nbsp;&nbsp;&nbsp;Capitec Bank Holdings | 4069 | 980 |
| &nbsp;&nbsp;&nbsp;Nedbank Group | 55817 | 870 |
|  |  | 3336 |
| **Materials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Anglo American | 20953 | 881 |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti | 17640 | 1693 |
| &nbsp;&nbsp;&nbsp;Harmony Gold Mining | 64201 | 960 |
| &nbsp;&nbsp;&nbsp;Kumba Iron Ore | 44146 | 823 |
|  |  | 4357 |
| **Real Estate — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Growthpoint Properties <sup>‡</sup> | 909999 | 860 |
| &nbsp;&nbsp;&nbsp;Resilient REIT <sup>‡</sup> | 190994 | 883 |
|  |  | 1743 |
| Total South Africa |  | 18526 |
| **South Korea — 14.0%** |  |  |
| **Communication Services — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;KT ADR <sup>\*</sup> | 44486 | 954 |
| &nbsp;&nbsp;&nbsp;LG Uplus | 132694 | 1346 |
|  |  | 2300 |
| **Consumer Discretionary — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Hankook Tire & Technology | 38447 | 1358 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis | 5748 | 1419 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor | 3090 | 899 |
| &nbsp;&nbsp;&nbsp;Kia | 24257 | 2299 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;LG Electronics | 14404 | $993 |
|  |  | 6968 |
| **Consumer Staples — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;APR | 5800 | 1276 |
| &nbsp;&nbsp;&nbsp;KT&G | 8774 | 912 |
|  |  | 2188 |
| **Financials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Hana Financial Group | 51803 | 3605 |
| &nbsp;&nbsp;&nbsp;KB Financial Group | 13596 | 1260 |
| &nbsp;&nbsp;&nbsp;Korea Investment Holdings | 6849 | 905 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group | 48415 | 2772 |
| &nbsp;&nbsp;&nbsp;Woori Financial Group | 119308 | 2497 |
|  |  | 11039 |
| **Industrials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;GS Holdings | 23746 | 989 |
| &nbsp;&nbsp;&nbsp;Hyundai Rotem | 5434 | 601 |
| &nbsp;&nbsp;&nbsp;Samsung E&A | 40400 | 942 |
| &nbsp;&nbsp;&nbsp;SK | 4391 | 863 |
| &nbsp;&nbsp;&nbsp;SK Square <sup>\*</sup> | 8094 | 2465 |
|  |  | 5860 |
| **Information Technology — 7.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Samsung Electro-Mechanics | 3589 | 955 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics | 195507 | 21342 |
| &nbsp;&nbsp;&nbsp;SK Hynix | 25324 | 13343 |
|  |  | 35640 |
| Total South Korea |  | 63995 |
| **Taiwan — 19.6%** |  |  |
| **Communication Services — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Chunghwa Telecom | 324101 | 1348 |
| **Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Uni-President Enterprises | 440413 | 978 |
| **Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Cathay Financial Holding | 426700 | 938 |
| &nbsp;&nbsp;&nbsp;CTBC Financial Holding | 826972 | 1327 |
|  |  | 2265 |
| **Industrials — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Bizlink Holding | 19600 | 1067 |
| &nbsp;&nbsp;&nbsp;Eva Airways | 1138335 | 1209 |
| &nbsp;&nbsp;&nbsp;United Integrated Services | 35800 | 919 |
|  |  | 3195 |
| **Information Technology — 17.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Advantech | 143748 | 1432 |
| &nbsp;&nbsp;&nbsp;ASE Technology Holding | 98100 | 1008 |
| &nbsp;&nbsp;&nbsp;ASPEED Technology | 3603 | 1206 |
| &nbsp;&nbsp;&nbsp;Asustek Computer | 52768 | 906 |
| &nbsp;&nbsp;&nbsp;Chroma ATE | 30762 | 1410 |
| &nbsp;&nbsp;&nbsp;Delta Electronics | 147410 | 6363 |

---

12 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Genius Electronic Optical | 60832 | $832 |
| &nbsp;&nbsp;&nbsp;Hon Hai Precision Industry | 261803 | 1535 |
| &nbsp;&nbsp;&nbsp;King Slide Works | 8998 | 894 |
| &nbsp;&nbsp;&nbsp;Largan Precision | 13544 | 913 |
| &nbsp;&nbsp;&nbsp;MediaTek | 73148 | 3409 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing | 1013046 | 55770 |
| &nbsp;&nbsp;&nbsp;Tripod Technology | 112542 | 1192 |
| &nbsp;&nbsp;&nbsp;United Microelectronics | 574900 | 1016 |
| &nbsp;&nbsp;&nbsp;Wiwynn | 10900 | 1125 |
| &nbsp;&nbsp;&nbsp;Yageo | 272592 | 2076 |
|  |  | 81087 |
| **Real Estate — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Highwealth Construction | 825400 | 899 |
| Total Taiwan |  | 89772 |
| **Thailand — 1.1%** |  |  |
| **Energy — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;PTT Exploration & Production NVDR | 648996 | 3178 |
| &nbsp;&nbsp;&nbsp;Star Petroleum Refining NVDR | 4284330 | 922 |
|  |  | 4100 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Kasikornbank NVDR | 157918 | 915 |
| Total Thailand |  | 5015 |
| **Turkey — 0.4%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri | 365480 | 870 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Yapi ve Kredi Bankasi <sup>\*</sup> | 1047828 | 778 |
| Total Turkey |  | 1648 |
| **United Arab Emirates — 2.4%** |  |  |
| **Financials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC | 459899 | 916 |
| &nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | 229438 | 1671 |
| &nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC | 265395 | 1228 |
|  |  | 3815 |
| **Industrials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Air Arabia PJSC | 823659 | 913 |
| &nbsp;&nbsp;&nbsp;Dubai Investments PJSC | 852580 | 877 |
|  |  | 1790 |
| **Real Estate — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Emaar Development PJSC | 533280 | 1960 |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 1139340 | 3629 |
|  |  | 5589 |
| Total United Arab Emirates |  | 11194 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK<sup>††</sup> (continued)** |  |  |
| **United States — 0.2%** |  |  |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Titan | 16670 | $864 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $374,505) ($ Thousands) |  | 424052 |
| **PREFERRED STOCK — 4.3%** |  |  |
| **Brazil — 2.4%** |  |  |
| **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Cyrela Brazil Realty Empreendimentos e Participacoes<sup>\*</sup>(A) | 57791 | 281 |
| **Energy — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro - Petrobras(A) | 628577 | 5848 |
| **Financials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Bradesco (A) | 269029 | 988 |
| &nbsp;&nbsp;&nbsp;Itau Unibanco Holding (A) | 268860 | 2239 |
| &nbsp;&nbsp;&nbsp;Itausa(A) | 592863 | 1580 |
|  |  | 4807 |
| Total Brazil |  | 10936 |
| **South Korea — 1.9%** |  |  |
| **Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Hyundai Motor(A) | 6511 | 974 |
| **Information Technology — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Samsung Electronics(A) | 102367 | 7619 |
| Total South Korea |  | 8593 |
| Total Preferred Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $14,336) ($ Thousands) |  | 19529 |
| **EXCHANGE-TRADED FUND — 1.9%** | **EXCHANGE-TRADED FUND — 1.9%** | **EXCHANGE-TRADED FUND — 1.9%** |
| **United States — 1.9%** |  |  |
| **International Equity — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;iShares Core MSCI Emerging Markets ETF | 127400 | 8886 |
| Total Exchange-Traded Fund |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $8,685) ($ Thousands) |  | 8886 |
| Total Investments in Securities — 99.0% | Total Investments in Securities — 99.0% | Total Investments in Securities — 99.0% |
| &nbsp;&nbsp;&nbsp;(Cost $397,526) ($ Thousands) |  | $452467 |

---

Percentages are based on Net Assets of $457,120 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>††</sup> Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.

<sup>‡</sup> Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) No interest rate available.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

SEI Exchange Traded Funds 13

**SCHEDULE OF INVESTMENTS** 

March 31, 2026

**SEI Select Emerging Markets Equity ETF** (Concluded)

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

14 SEI Exchange Traded Funds

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select International Equity ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK — 98.5%** |  |  |
| **Australia — 2.1%** |  |  |
| **Consumer Discretionary — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure | 29905 | $929 |
| &nbsp;&nbsp;&nbsp;Eagers Automotive | 76827 | 1184 |
| &nbsp;&nbsp;&nbsp;Lottery | 334456 | 1232 |
|  |  | 3345 |
| **Energy — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group | 71816 | 1724 |
| &nbsp;&nbsp;&nbsp;Yancoal Australia | 269584 | 1531 |
|  |  | 3255 |
| **Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Medibank Pvt | 587515 | 1754 |
| &nbsp;&nbsp;&nbsp;National Australia Bank | 43072 | 1223 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group | 97785 | 1422 |
|  |  | 4399 |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Cochlear | 6518 | 755 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Brambles | 90616 | 1402 |
| **Materials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Fortescue | 100388 | 1396 |
| &nbsp;&nbsp;&nbsp;Perseus Mining | 448224 | 1581 |
| &nbsp;&nbsp;&nbsp;Ramelius Resources | 486956 | 1224 |
|  |  | 4201 |
| **Real Estate — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Charter Hall Group <sup>‡</sup> | 106780 | 1363 |
| &nbsp;&nbsp;&nbsp;Dexus <sup>‡</sup> | 242296 | 982 |
|  |  | 2345 |
| Total Australia |  | 19702 |
| **Austria — 1.2%** |  |  |
| **Energy — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;OMV | 23688 | 1725 |
| **Financials — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Erste Group Bank | 49154 | 5239 |
| &nbsp;&nbsp;&nbsp;Raiffeisen Bank International | 33878 | 1419 |
|  |  | 6658 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;ANDRITZ | 16559 | 1135 |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;voestalpine | 47521 | 2071 |
| Total Austria |  | 11589 |
| **Belgium — 1.2%** |  |  |
| **Financials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Ageas | 22513 | 1636 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;KBC Group | 46870 | $5643 |
|  |  | 7279 |
| **Health Care — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;UCB | 8559 | 2549 |
| **Materials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Umicore | 71270 | 1329 |
| Total Belgium |  | 11157 |
| **Brazil — 0.3%** |  |  |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Yara International | 48876 | 2830 |
| **China — 0.8%** |  |  |
| **Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Prosus | 31528 | 1416 |
| **Consumer Staples — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Wilmar International | 460803 | 1375 |
| **Industrials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;SITC International Holdings | 403733 | 1755 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings | 1134807 | 3325 |
|  |  | 5080 |
| Total China |  | 7871 |
| **Denmark — 1.6%** |  |  |
| **Financials — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Danske Bank | 135364 | 6518 |
| &nbsp;&nbsp;&nbsp;Jyske Bank | 10364 | 1406 |
| &nbsp;&nbsp;&nbsp;Ringkjoebing Landbobank | 8551 | 2029 |
|  |  | 9953 |
| **Industrials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;AP Moller - Maersk, Cl A | 792 | 1921 |
| &nbsp;&nbsp;&nbsp;ISS | 45999 | 1664 |
| &nbsp;&nbsp;&nbsp;Per Aarsleff Holding | 10664 | 1222 |
|  |  | 4807 |
| Total Denmark |  | 14760 |
| **Finland — 2.1%** |  |  |
| **Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp | 151365 | 2559 |
| **Health Care — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Orion, Cl B | 18340 | 1473 |
| **Industrials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Kone, Cl B | 65618 | 4142 |
| &nbsp;&nbsp;&nbsp;Konecranes | 64620 | 2080 |
| &nbsp;&nbsp;&nbsp;Metso | 208249 | 3537 |
|  |  | 9759 |

---

SEI Exchange Traded Funds 15

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select International Equity ETF** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Information Technology — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Nokia | 693731 | $5432 |
| Total Finland |  | 19223 |
| **France — 9.0%** |  |  |
| **Communication Services — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Canal+ | 416095 | 1096 |
| &nbsp;&nbsp;&nbsp;Orange | 71686 | 1460 |
| &nbsp;&nbsp;&nbsp;Publicis Groupe | 57018 | 4654 |
|  |  | 7210 |
| **Consumer Discretionary — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Accor | 48576 | 2274 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | 170433 | 5732 |
| &nbsp;&nbsp;&nbsp;Hermes International SCA | 465 | 862 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton | 12412 | 6623 |
|  |  | 15491 |
| **Consumer Staples — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Carrefour | 94100 | 1724 |
| &nbsp;&nbsp;&nbsp;L'Oreal | 3137 | 1263 |
|  |  | 2987 |
| **Energy — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;TotalEnergies | 78843 | 7350 |
| **Financials — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Amundi | 25573 | 2161 |
| &nbsp;&nbsp;&nbsp;AXA | 31776 | 1437 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 19536 | 1823 |
| &nbsp;&nbsp;&nbsp;SCOR | 39493 | 1391 |
| &nbsp;&nbsp;&nbsp;Societe Generale | 56470 | 4018 |
|  |  | 10830 |
| **Health Care — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Ipsen | 9634 | 1781 |
| &nbsp;&nbsp;&nbsp;Sanofi | 61414 | 5853 |
|  |  | 7634 |
| **Industrials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Airbus | 15310 | 2837 |
| &nbsp;&nbsp;&nbsp;Bouygues | 28295 | 1611 |
| &nbsp;&nbsp;&nbsp;Eiffage | 16888 | 2552 |
| &nbsp;&nbsp;&nbsp;Legrand | 10067 | 1528 |
| &nbsp;&nbsp;&nbsp;Rexel | 170117 | 6523 |
| &nbsp;&nbsp;&nbsp;Safran | 14971 | 4819 |
| &nbsp;&nbsp;&nbsp;Teleperformance | 42076 | 2438 |
|  |  | 22308 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Arkema | 37343 | 2508 |
| **Real Estate — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Covivio <sup>‡</sup> | 21827 | 1289 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Klepierre ‡ | 60905 | $2275 |
|  |  | 3564 |
| **Utilities — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Engie | 117034 | 3737 |
| Total France |  | 83619 |
| **Germany — 7.2%** |  |  |
| **Communication Services — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;CTS Eventim & KGaA | 20579 | 1177 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom | 137011 | 5044 |
|  |  | 6221 |
| **Consumer Discretionary — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Continental | 30778 | 2113 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group | 79133 | 4777 |
|  |  | 6890 |
| **Financials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Commerzbank | 96914 | 3438 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank | 40140 | 1161 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse | 17969 | 5199 |
| &nbsp;&nbsp;&nbsp;flatexDEGIRO | 33788 | 1145 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gesellschaft in Muenchen | 2011 | 1250 |
|  |  | 12193 |
| **Health Care — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Bayer | 124543 | 5652 |
| &nbsp;&nbsp;&nbsp;Fresenius Medical Care | 93606 | 4160 |
|  |  | 9812 |
| **Industrials — 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding | 134002 | 6403 |
| &nbsp;&nbsp;&nbsp;Deutsche Lufthansa | 146129 | 1212 |
| &nbsp;&nbsp;&nbsp;GEA Group | 19629 | 1384 |
| &nbsp;&nbsp;&nbsp;MTU Aero Engines | 4519 | 1614 |
| &nbsp;&nbsp;&nbsp;Siemens Energy | 47353 | 7761 |
|  |  | 18374 |
| **Information Technology — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;SAP | 16115 | 2728 |
| **Materials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;BASF | 76035 | 4591 |
| &nbsp;&nbsp;&nbsp;Evonik Industries | 143234 | 2764 |
|  |  | 7355 |
| **Utilities — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;E.ON | 78142 | 1707 |
| &nbsp;&nbsp;&nbsp;RWE | 31501 | 2093 |
|  |  | 3800 |
| Total Germany |  | 67373 |

---

16 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Hong Kong — 1.7%** |  |  |
| **Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;WH Group | 1341610 | $1756 |
| **Financials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;AIA Group | 524481 | 5676 |
| &nbsp;&nbsp;&nbsp;Futu Holdings ADR <sup>\*</sup> | 19022 | 2601 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing | 23416 | 1161 |
|  |  | 9438 |
| **Industrials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Techtronic Industries | 100866 | 1314 |
| **Real Estate — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings | 314107 | 1781 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties | 82594 | 1361 |
|  |  | 3142 |
| Total Hong Kong |  | 15650 |
| **Indonesia — 0.2%** |  |  |
| **Industrials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Jardine Matheson Holdings | 25105 | 1786 |
| **Ireland — 1.7%** |  |  |
| **Financials — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;AIB Group | 732836 | 7612 |
| &nbsp;&nbsp;&nbsp;Bank of Ireland Group | 479655 | 8531 |
|  |  | 16143 |
| Total Ireland |  | 16143 |
| **Israel — 1.4%** |  |  |
| **Energy — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Delek Group | 3854 | 1293 |
| **Financials — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim | 57610 | 1338 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel | 314674 | 6955 |
| &nbsp;&nbsp;&nbsp;Israel Discount Bank, Cl A | 116189 | 1158 |
| &nbsp;&nbsp;&nbsp;Telephone Aviv Stock Exchange | 26355 | 1157 |
|  |  | 10608 |
| **Information Technology — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies <sup>\*</sup> | 6575 | 939 |
| Total Israel |  | 12840 |
| **Italy — 4.5%** |  |  |
| **Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Lottomatica Group Spa | 50245 | 1433 |
| &nbsp;&nbsp;&nbsp;Technogym | 78024 | 1559 |
|  |  | 2992 |
| **Consumer Staples — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola HBC | 66031 | 3697 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Energy — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Eni | 148582 | $4255 |
| &nbsp;&nbsp;&nbsp;Tenaris | 53882 | 1583 |
|  |  | 5838 |
| **Financials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco | 57648 | 1258 |
| &nbsp;&nbsp;&nbsp;Generali | 78706 | 3129 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo | 989932 | 5887 |
| &nbsp;&nbsp;&nbsp;Poste Italiane | 75580 | 1754 |
| &nbsp;&nbsp;&nbsp;UniCredit | 107000 | 7503 |
| &nbsp;&nbsp;&nbsp;Unipol Assicurazioni | 100860 | 2306 |
|  |  | 21837 |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica | 17486 | 988 |
| **Utilities — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;A2A | 504557 | 1411 |
| &nbsp;&nbsp;&nbsp;Enel | 301514 | 3257 |
| &nbsp;&nbsp;&nbsp;Italgas | 181691 | 2100 |
|  |  | 6768 |
| Total Italy |  | 42120 |
| **Japan — 22.6%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;SKY Perfect JSAT | 86651 | 1576 |
| **Consumer Discretionary — 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Aisin | 78431 | 1069 |
| &nbsp;&nbsp;&nbsp;Asics | 100556 | 2627 |
| &nbsp;&nbsp;&nbsp;Bridgestone | 159479 | 3275 |
| &nbsp;&nbsp;&nbsp;Fast Retailing | 12735 | 4933 |
| &nbsp;&nbsp;&nbsp;Food & Life | 34988 | 2039 |
| &nbsp;&nbsp;&nbsp;Haseko | 118597 | 2151 |
| &nbsp;&nbsp;&nbsp;Honda Motor | 236148 | 1867 |
| &nbsp;&nbsp;&nbsp;Iida Group Holdings | 125149 | 1882 |
| &nbsp;&nbsp;&nbsp;Mazda Motor | 149165 | 974 |
| &nbsp;&nbsp;&nbsp;Niterra | 61155 | 2778 |
| &nbsp;&nbsp;&nbsp;Rinnai | 53393 | 1228 |
| &nbsp;&nbsp;&nbsp;Ryohin Keikaku | 126879 | 2659 |
| &nbsp;&nbsp;&nbsp;Sankyo | 79697 | 972 |
| &nbsp;&nbsp;&nbsp;Shimamura | 56214 | 1166 |
| &nbsp;&nbsp;&nbsp;Subaru | 87800 | 1371 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries | 105705 | 5568 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor | 275560 | 3248 |
| &nbsp;&nbsp;&nbsp;Toyoda Gosei | 50847 | 1281 |
| &nbsp;&nbsp;&nbsp;USS | 184989 | 1925 |
| &nbsp;&nbsp;&nbsp;Yokohama Rubber | 36003 | 1317 |
|  |  | 44330 |
| **Consumer Staples — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Aeon | 318288 | 3770 |
| &nbsp;&nbsp;&nbsp;Suntory Beverage & Food | 117873 | 3325 |
|  |  | 7095 |

---

SEI Exchange Traded Funds 17

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select International Equity ETF** (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Energy — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings | 159162 | $1411 |
| &nbsp;&nbsp;&nbsp;Inpex | 67424 | 1983 |
|  |  | 3394 |
| **Financials — 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Fukuoka Financial Group | 64384 | 2385 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings | 204516 | 2300 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance | 146373 | 1449 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group | 240315 | 3928 |
| &nbsp;&nbsp;&nbsp;Resona Holdings | 229906 | 2489 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | 73829 | 2323 |
|  |  | 14874 |
| **Health Care — 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical | 38320 | 2074 |
| &nbsp;&nbsp;&nbsp;Hoya | 9089 | 1517 |
| &nbsp;&nbsp;&nbsp;Olympus | 247445 | 2315 |
| &nbsp;&nbsp;&nbsp;Ono Pharmaceutical | 94996 | 1499 |
| &nbsp;&nbsp;&nbsp;Otsuka Holdings | 41000 | 2838 |
| &nbsp;&nbsp;&nbsp;Santen Pharmaceutical | 136983 | 1537 |
| &nbsp;&nbsp;&nbsp;Shionogi | 256691 | 5597 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical | 48452 | 1725 |
|  |  | 19102 |
| **Industrials — 6.3%** |  |  |
| &nbsp;&nbsp;&nbsp;AGC | 37828 | 1307 |
| &nbsp;&nbsp;&nbsp;Amada | 110218 | 1497 |
| &nbsp;&nbsp;&nbsp;Central Japan Railway | 78122 | 2005 |
| &nbsp;&nbsp;&nbsp;COMSYS Holdings | 43133 | 1350 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing | 87946 | 1563 |
| &nbsp;&nbsp;&nbsp;Daikin Industries | 43176 | 5071 |
| &nbsp;&nbsp;&nbsp;EXEO Group | 87026 | 1460 |
| &nbsp;&nbsp;&nbsp;Fujikura | 55338 | 1423 |
| &nbsp;&nbsp;&nbsp;Furukawa Electric | 9124 | 1651 |
| &nbsp;&nbsp;&nbsp;INFRONEER Holdings | 95957 | 1301 |
| &nbsp;&nbsp;&nbsp;Kajima | 106242 | 3945 |
| &nbsp;&nbsp;&nbsp;Kamigumi | 43540 | 1492 |
| &nbsp;&nbsp;&nbsp;Kinden | 38293 | 1678 |
| &nbsp;&nbsp;&nbsp;Komatsu | 55896 | 2113 |
| &nbsp;&nbsp;&nbsp;Kubota | 276674 | 4273 |
| &nbsp;&nbsp;&nbsp;MINEBEA MITSUMI | 178044 | 2837 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric | 100994 | 3166 |
| &nbsp;&nbsp;&nbsp;NGK Insulators | 54873 | 1372 |
| &nbsp;&nbsp;&nbsp;Obayashi | 159329 | 3762 |
| &nbsp;&nbsp;&nbsp;Penta-Ocean Construction | 135250 | 1383 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings | 24356 | 999 |
| &nbsp;&nbsp;&nbsp;Shimizu | 142686 | 2487 |
| &nbsp;&nbsp;&nbsp;Taisei | 37800 | 3815 |
| &nbsp;&nbsp;&nbsp;Toyota Tsusho | 176591 | 6605 |
|  |  | 58555 |
| **Information Technology — 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Advantest | 9632 | 1231 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Anritsu | 81829 | $1408 |
| &nbsp;&nbsp;&nbsp;BIPROGY | 31815 | 924 |
| &nbsp;&nbsp;&nbsp;Brother Industries | 58416 | 1055 |
| &nbsp;&nbsp;&nbsp;Canon | 111117 | 3043 |
| &nbsp;&nbsp;&nbsp;Keyence | 10305 | 3554 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing | 486412 | 10423 |
| &nbsp;&nbsp;&nbsp;NEC | 72038 | 1742 |
| &nbsp;&nbsp;&nbsp;Obic | 39746 | 962 |
| &nbsp;&nbsp;&nbsp;Ricoh | 166432 | 1374 |
| &nbsp;&nbsp;&nbsp;Seiko Epson | 85198 | 1027 |
| &nbsp;&nbsp;&nbsp;TDK | 355769 | 4396 |
| &nbsp;&nbsp;&nbsp;Yokogawa Electric | 41080 | 1225 |
|  |  | 32364 |
| **Materials — 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;JFE Holdings | 97487 | 1112 |
| &nbsp;&nbsp;&nbsp;Kobe Steel | 97256 | 1155 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Chemical Group | 254360 | 1437 |
| &nbsp;&nbsp;&nbsp;Mitsui Chemicals | 108367 | 1266 |
| &nbsp;&nbsp;&nbsp;Mitsui Kinzoku | 7074 | 1247 |
| &nbsp;&nbsp;&nbsp;Nippon Mining <sup>\*</sup> | 168462 | 3507 |
| &nbsp;&nbsp;&nbsp;Nippon Steel | 502761 | 1820 |
| &nbsp;&nbsp;&nbsp;Nitto Denko | 56682 | 1092 |
| &nbsp;&nbsp;&nbsp;Tokyo Ohka Kogyo | 32102 | 1488 |
| &nbsp;&nbsp;&nbsp;Tosoh | 78748 | 1145 |
|  |  | 15269 |
| **Real Estate — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Daiwa House Industry | 41531 | 1284 |
| &nbsp;&nbsp;&nbsp;Hulic | 130010 | 1495 |
| &nbsp;&nbsp;&nbsp;Sumitomo Realty & Development | 181307 | 5005 |
|  |  | 7784 |
| **Utilities — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power | 106263 | 1725 |
| &nbsp;&nbsp;&nbsp;Kansai Electric Power | 107276 | 1743 |
| &nbsp;&nbsp;&nbsp;Kyushu Electric Power | 115578 | 1313 |
| &nbsp;&nbsp;&nbsp;Tokyo Electric Power Holdings <sup>\*</sup> | 248890 | 999 |
|  |  | 5780 |
| Total Japan |  | 210123 |
| **Luxembourg — 1.1%** |  |  |
| **Health Care — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Eurofins Scientific | 36106 | 2607 |
| **Materials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;ArcelorMittal | 152592 | 7708 |
| Total Luxembourg |  | 10315 |
| **Macao — 0.3%** |  |  |
| **Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group | 583820 | 2606 |

---

18 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Netherlands — 4.3%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Universal Music Group | 91214 | $1748 |
| **Consumer Staples — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize | 61267 | 2844 |
| **Financials — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Aegon | 200204 | 1437 |
| &nbsp;&nbsp;&nbsp;Euronext | 18852 | 3008 |
| &nbsp;&nbsp;&nbsp;ING Groep | 390446 | 9945 |
| &nbsp;&nbsp;&nbsp;NN Group | 26614 | 2056 |
|  |  | 16446 |
| **Health Care — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips | 122585 | 3297 |
| **Industrials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Koninklijke BAM Groep | 147154 | 1461 |
| &nbsp;&nbsp;&nbsp;Randstad | 47858 | 1230 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer | 25058 | 1866 |
|  |  | 4557 |
| **Information Technology — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding | 8351 | 10769 |
| Total Netherlands |  | 39661 |
| **New Zealand — 0.2%** |  |  |
| **Health Care — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare | 72378 | 1544 |
| **Nigeria — 0.1%** |  |  |
| **Communication Services — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Airtel Africa | 308572 | 1402 |
| **Norway — 1.7%** |  |  |
| **Consumer Staples — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Orkla | 193263 | 2415 |
| **Energy — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Equinor | 247294 | 10673 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;DNB Bank | 51319 | 1587 |
| **Information Technology — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Kitron | 129427 | 1242 |
| Total Norway |  | 15917 |
| **Portugal — 0.4%** |  |  |
| **Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Jeronimo Martins SGPS | 87362 | 2069 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Comercial Portugues, Cl R | 1478898 | $1418 |
| Total Portugal |  | 3487 |
| **Singapore — 1.2%** |  |  |
| **Financials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings | 34743 | 1532 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking | 95814 | 1632 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank | 79482 | 2258 |
|  |  | 5422 |
| **Industrials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;ComfortDelGro | 1257190 | 1403 |
| &nbsp;&nbsp;&nbsp;Singapore Airlines | 248634 | 1272 |
| &nbsp;&nbsp;&nbsp;Singapore Technologies Engineering | 239813 | 2009 |
|  |  | 4684 |
| **Real Estate — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;UOL Group | 199757 | 1505 |
| Total Singapore |  | 11611 |
| **South Africa — 0.1%** |  |  |
| **Materials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Pan African Resources | 628926 | 1156 |
| **Spain — 3.9%** |  |  |
| **Consumer Discretionary — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group | 49868 | 2797 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil | 23336 | 1324 |
|  |  | 4121 |
| **Energy — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Repsol | 273697 | 7774 |
| **Financials — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria | 305875 | 6432 |
| &nbsp;&nbsp;&nbsp;Banco Santander | 608158 | 6650 |
| &nbsp;&nbsp;&nbsp;CaixaBank | 323403 | 3787 |
|  |  | 16869 |
| **Industrials — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios | 42863 | 5176 |
| &nbsp;&nbsp;&nbsp;Aena SME | 52170 | 1534 |
|  |  | 6710 |
| **Information Technology — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Indra Sistemas | 23914 | 1302 |
| Total Spain |  | 36776 |
| **Sweden — 1.7%** |  |  |
| **Financials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Avanza Bank Holding | 34947 | 1323 |
| &nbsp;&nbsp;&nbsp;Swedbank | 134984 | 4519 |
|  |  | 5842 |
| **Industrials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Assa Abloy, Cl B | 36358 | 1284 |

---

SEI Exchange Traded Funds 19

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select International Equity ETF** (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl B | 217372 | $3305 |
| &nbsp;&nbsp;&nbsp;Peab, Cl B | 129198 | 1305 |
| &nbsp;&nbsp;&nbsp;Saab, Cl B | 18494 | 1198 |
|  |  | 7092 |
| **Information Technology — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Cl B | 122608 | 1368 |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;SSAB, Cl B | 180194 | 1390 |
| Total Sweden |  | 15692 |
| **Switzerland — 7.0%** |  |  |
| **Consumer Discretionary — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont, Cl A | 43695 | 7534 |
| **Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Nestle | 20356 | 1986 |
| **Financials — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Julius Baer Group | 72018 | 5213 |
| &nbsp;&nbsp;&nbsp;Swiss Re | 10936 | 1799 |
| &nbsp;&nbsp;&nbsp;UBS Group | 108390 | 4145 |
|  |  | 11157 |
| **Health Care — 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Galenica | 13388 | 1514 |
| &nbsp;&nbsp;&nbsp;Novartis | 81803 | 12304 |
| &nbsp;&nbsp;&nbsp;Roche Holding | 22295 | 8732 |
| &nbsp;&nbsp;&nbsp;Sandoz Group | 30731 | 2361 |
| &nbsp;&nbsp;&nbsp;Sonova Holding | 4720 | 1051 |
|  |  | 25962 |
| **Industrials — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Accelleron Industries | 14216 | 1260 |
| &nbsp;&nbsp;&nbsp;Adecco Group | 56146 | 1327 |
| &nbsp;&nbsp;&nbsp;Geberit | 2011 | 1333 |
| &nbsp;&nbsp;&nbsp;Huber + Suhner | 6562 | 1434 |
| &nbsp;&nbsp;&nbsp;Schindler Holding | 4143 | 1343 |
| &nbsp;&nbsp;&nbsp;SGS | 12042 | 1260 |
|  |  | 7957 |
| **Information Technology — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Logitech International | 48149 | 4336 |
| &nbsp;&nbsp;&nbsp;Temenos | 16352 | 1401 |
|  |  | 5737 |
| **Materials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Holcim | 39268 | 3173 |
| &nbsp;&nbsp;&nbsp;Sika | 7580 | 1225 |
|  |  | 4398 |
| Total Switzerland |  | 64731 |
| **United Kingdom — 18.9%** |  |  |
| **Communication Services — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Autotrader Group | 106831 | 662 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Vodafone Group | 1762989 | $2634 |
|  |  | 3296 |
| **Consumer Discretionary — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Berkeley Group Holdings | 23191 | 1051 |
| &nbsp;&nbsp;&nbsp;Compass Group | 209324 | 5755 |
| &nbsp;&nbsp;&nbsp;Games Workshop Group | 15446 | 3605 |
| &nbsp;&nbsp;&nbsp;Inchcape | 111361 | 1102 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group | 10611 | 1384 |
| &nbsp;&nbsp;&nbsp;Kingfisher | 348232 | 1303 |
| &nbsp;&nbsp;&nbsp;Next | 30705 | 5132 |
|  |  | 19332 |
| **Consumer Staples — 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;British American Tobacco | 24859 | 1433 |
| &nbsp;&nbsp;&nbsp;Cranswick | 18555 | 1280 |
| &nbsp;&nbsp;&nbsp;Diageo | 82712 | 1523 |
| &nbsp;&nbsp;&nbsp;Imperial Brands | 31961 | 1288 |
| &nbsp;&nbsp;&nbsp;J Sainsbury | 1407808 | 6293 |
| &nbsp;&nbsp;&nbsp;Marks & Spencer Group | 667114 | 2984 |
| &nbsp;&nbsp;&nbsp;Premier Foods | 421623 | 1028 |
| &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group | 73467 | 4929 |
| &nbsp;&nbsp;&nbsp;Tesco | 1208836 | 7542 |
| &nbsp;&nbsp;&nbsp;Unilever | 20758 | 1149 |
|  |  | 29449 |
| **Energy — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Shell | 156901 | 7413 |
| **Financials — 5.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Barclays | 1677731 | 8616 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings | 1092838 | 17605 |
| &nbsp;&nbsp;&nbsp;Investec | 155231 | 1175 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group | 31414 | 3672 |
| &nbsp;&nbsp;&nbsp;NatWest Group | 1031066 | 7522 |
| &nbsp;&nbsp;&nbsp;Standard Chartered | 410887 | 8425 |
|  |  | 47015 |
| **Health Care — 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca | 52075 | 10088 |
| &nbsp;&nbsp;&nbsp;Convatec Group | 1263906 | 3590 |
| &nbsp;&nbsp;&nbsp;GSK | 478804 | 13032 |
|  |  | 26710 |
| **Industrials — 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Babcock International Group | 74252 | 1134 |
| &nbsp;&nbsp;&nbsp;Balfour Beatty | 232569 | 2319 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings | 284852 | 2165 |
| &nbsp;&nbsp;&nbsp;Experian | 114003 | 3906 |
| &nbsp;&nbsp;&nbsp;Grafton Group | 118336 | 1403 |
| &nbsp;&nbsp;&nbsp;Howden Joinery Group | 400629 | 4179 |
| &nbsp;&nbsp;&nbsp;IMI | 41259 | 1376 |
| &nbsp;&nbsp;&nbsp;International Consolidated Airlines Group | 588375 | 2725 |
| &nbsp;&nbsp;&nbsp;JET2 | 55967 | 821 |
| &nbsp;&nbsp;&nbsp;RELX | 27760 | 906 |

---

20 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Rentokil Initial | 627712 | $3866 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings | 202277 | 3020 |
| &nbsp;&nbsp;&nbsp;Serco Group | 355219 | 1335 |
|  |  | 29155 |
| **Information Technology — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Computacenter | 34469 | 1359 |
| &nbsp;&nbsp;&nbsp;Halma | 66375 | 3328 |
| &nbsp;&nbsp;&nbsp;Sage Group | 92667 | 1024 |
|  |  | 5711 |
| **Materials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Hill & Smith | 44429 | 1233 |
| **Real Estate — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Land Securities Group ‡ | 156479 | 1141 |
| **Utilities — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Centrica | 787697 | 2207 |
| &nbsp;&nbsp;&nbsp;Drax Group | 135543 | 1583 |
| &nbsp;&nbsp;&nbsp;United Utilities Group | 80432 | 1395 |
|  |  | 5185 |
| Total United Kingdom |  | 175640 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $815,839) ($ Thousands) |  | 917324 |
| **PREFERRED STOCK — 0.4%** |  |  |
| **Germany — 0.4%** |  |  |
| **Consumer Discretionary — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke (A) | 14060 | 1261 |
| &nbsp;&nbsp;&nbsp;Volkswagen(A) | 20385 | 2029 |
|  |  | 3290 |
| Total Preferred Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $3,469) ($ Thousands) |  | 3290 |
| Total Investments in Securities — 98.9% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $819,308) ($ Thousands) |  | $920614 |

---

Percentages are based on Net Assets of $930,981 ($ Thousands).

<sup>\*</sup> Non-income producing security.

<sup>‡</sup> Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) No interest rate available.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 21

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select Small Cap ETF**

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK — 99.8%** |  |  |
| **Communication Services — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Bandwidth, Cl A <sup>\*</sup> | 21881 | $390 |
| &nbsp;&nbsp;&nbsp;Cable One | 4038 | 368 |
| &nbsp;&nbsp;&nbsp;Cargurus, Cl A <sup>\*</sup> | 56839 | 1936 |
| &nbsp;&nbsp;&nbsp;EverQuote, Cl A <sup>\*</sup> | 21876 | 338 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies <sup>\*</sup> | 68797 | 478 |
| &nbsp;&nbsp;&nbsp;QuinStreet <sup>\*</sup> | 64879 | 779 |
| &nbsp;&nbsp;&nbsp;Scholastic | 20485 | 800 |
| &nbsp;&nbsp;&nbsp;Yelp, Cl A <sup>\*</sup> | 26725 | 661 |
|  |  | 5750 |
| **Consumer Discretionary — 13.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch, Cl A <sup>\*</sup> | 38190 | 3489 |
| &nbsp;&nbsp;&nbsp;Adient <sup>\*</sup> | 36568 | 739 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters | 163596 | 2732 |
| &nbsp;&nbsp;&nbsp;American Public Education <sup>\*</sup> | 17193 | 978 |
| &nbsp;&nbsp;&nbsp;Bloomin' Brands | 106460 | 575 |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings <sup>\*</sup> | 3598 | 527 |
| &nbsp;&nbsp;&nbsp;Brinker International <sup>\*</sup> | 26629 | 3802 |
| &nbsp;&nbsp;&nbsp;Burlington Stores <sup>\*</sup> | 5994 | 1950 |
| &nbsp;&nbsp;&nbsp;Cavco Industries <sup>\*</sup> | 1344 | 651 |
| &nbsp;&nbsp;&nbsp;Champion Homes <sup>\*</sup> | 8080 | 601 |
| &nbsp;&nbsp;&nbsp;Cooper-Standard Holdings <sup>\*</sup> | 23770 | 662 |
| &nbsp;&nbsp;&nbsp;Covista <sup>\*</sup> | 31774 | 3662 |
| &nbsp;&nbsp;&nbsp;Dana | 31000 | 1043 |
| &nbsp;&nbsp;&nbsp;Dauch <sup>\*</sup> | 168647 | 1000 |
| &nbsp;&nbsp;&nbsp;Figs, Cl A <sup>\*</sup> | 64516 | 953 |
| &nbsp;&nbsp;&nbsp;Frontdoor <sup>\*</sup> | 17428 | 921 |
| &nbsp;&nbsp;&nbsp;Garrett Motion | 72910 | 1325 |
| &nbsp;&nbsp;&nbsp;Genius Sports <sup>\*</sup> | 156855 | 695 |
| &nbsp;&nbsp;&nbsp;GigaCloud Technology, Cl A <sup>\*</sup> | 27847 | 1264 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group | 27801 | 770 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber <sup>\*</sup> | 52913 | 351 |
| &nbsp;&nbsp;&nbsp;Kohl's | 72190 | 931 |
| &nbsp;&nbsp;&nbsp;Laureate Education, Cl A <sup>\*</sup> | 60090 | 2093 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Cl Z | 33103 | 1064 |
| &nbsp;&nbsp;&nbsp;LCI Industries | 10782 | 1326 |
| &nbsp;&nbsp;&nbsp;Meritage Homes | 12784 | 790 |
| &nbsp;&nbsp;&nbsp;National Vision Holdings <sup>\*</sup> | 45545 | 1180 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings <sup>\*</sup> | 14432 | 1328 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education | 22111 | 823 |
| &nbsp;&nbsp;&nbsp;Polaris | 38498 | 2098 |
| &nbsp;&nbsp;&nbsp;Pool | 2072 | 419 |
| &nbsp;&nbsp;&nbsp;Sally Beauty Holdings <sup>\*</sup> | 90675 | 1256 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers | 7557 | 640 |
| &nbsp;&nbsp;&nbsp;Solid Power <sup>\*</sup> | 131938 | 396 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products | 17666 | 614 |
| &nbsp;&nbsp;&nbsp;Stride <sup>\*</sup> | 31211 | 2752 |
| &nbsp;&nbsp;&nbsp;Super Group SGHC | 60967 | 658 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home, Cl A <sup>\*</sup> | 34205 | 1992 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters <sup>\*</sup> | 59545 | 3772 |
| &nbsp;&nbsp;&nbsp;Victoria's Secret <sup>\*</sup> | 18827 | 873 |
| &nbsp;&nbsp;&nbsp;Visteon | 23135 | 2108 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Whirlpool | 14775 | $797 |
|  |  | 56600 |
| **Consumer Staples — 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods | 12945 | 1025 |
| &nbsp;&nbsp;&nbsp;Church & Dwight | 10279 | 959 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings | 61674 | 1013 |
| &nbsp;&nbsp;&nbsp;Herbalife <sup>\*</sup> | 105642 | 1555 |
| &nbsp;&nbsp;&nbsp;Mama's Creations <sup>\*</sup> | 45428 | 697 |
| &nbsp;&nbsp;&nbsp;Mission Produce <sup>\*</sup> | 54886 | 755 |
| &nbsp;&nbsp;&nbsp;Nu Skin Enterprises, Cl A | 58621 | 427 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride | 12474 | 471 |
| &nbsp;&nbsp;&nbsp;Seneca Foods, Cl A <sup>\*</sup> | 5363 | 810 |
| &nbsp;&nbsp;&nbsp;Turning Point Brands | 9357 | 812 |
| &nbsp;&nbsp;&nbsp;United Natural Foods <sup>\*</sup> | 22960 | 1035 |
|  |  | 9559 |
| **Energy — 5.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Ardmore Shipping | 54615 | 833 |
| &nbsp;&nbsp;&nbsp;California Resources | 10631 | 736 |
| &nbsp;&nbsp;&nbsp;CNX Resources <sup>\*</sup> | 44115 | 1701 |
| &nbsp;&nbsp;&nbsp;Crescent Energy, Cl A | 55355 | 747 |
| &nbsp;&nbsp;&nbsp;CVR Energy <sup>\*</sup> | 17695 | 595 |
| &nbsp;&nbsp;&nbsp;Delek US Holdings | 71292 | 3213 |
| &nbsp;&nbsp;&nbsp;Forum Energy Technologies <sup>\*</sup> | 14200 | 833 |
| &nbsp;&nbsp;&nbsp;Innovex International <sup>\*</sup> | 46288 | 1129 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas, Cl A | 25832 | 815 |
| &nbsp;&nbsp;&nbsp;Murphy Oil | 34808 | 1436 |
| &nbsp;&nbsp;&nbsp;National Energy Services Reunited <sup>\*</sup> | 72542 | 1557 |
| &nbsp;&nbsp;&nbsp;Northern Oil & Gas | 43265 | 1265 |
| &nbsp;&nbsp;&nbsp;Par Pacific Holdings <sup>\*</sup> | 42362 | 2654 |
| &nbsp;&nbsp;&nbsp;SandRidge Energy | 35676 | 582 |
| &nbsp;&nbsp;&nbsp;Scorpio Tankers | 16144 | 1205 |
| &nbsp;&nbsp;&nbsp;Solaris Energy Infrastructure, Cl A | 11923 | 674 |
| &nbsp;&nbsp;&nbsp;Talos Energy <sup>\*</sup> | 113240 | 1785 |
| &nbsp;&nbsp;&nbsp;Teekay | 77000 | 940 |
|  |  | 22700 |
| **Financials — 19.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management | 36347 | 1978 |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp | 24657 | 638 |
| &nbsp;&nbsp;&nbsp;Axos Financial <sup>\*</sup> | 9061 | 771 |
| &nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior, Cl E | 16564 | 846 |
| &nbsp;&nbsp;&nbsp;Bancorp <sup>\*</sup> | 10059 | 540 |
| &nbsp;&nbsp;&nbsp;Bank of NT Butterfield & Son | 38904 | 2042 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings | 26187 | 1961 |
| &nbsp;&nbsp;&nbsp;Bridgewater Bancshares <sup>\*</sup> | 27003 | 478 |
| &nbsp;&nbsp;&nbsp;Camden National | 23703 | 1125 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial | 27262 | 871 |
| &nbsp;&nbsp;&nbsp;Chimera Investment ‡ | 23636 | 297 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group | 145300 | 5966 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System | 107946 | 2961 |
| &nbsp;&nbsp;&nbsp;Community Trust Bancorp | 11900 | 723 |

---

22 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;ConnectOne Bancorp | 35631 | $954 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp <sup>\*</sup> | 13368 | 928 |
| &nbsp;&nbsp;&nbsp;Dave <sup>\*</sup> | 8495 | 1479 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group <sup>\*</sup> | 15149 | 1062 |
| &nbsp;&nbsp;&nbsp;Enova International <sup>\*</sup> | 31538 | 4284 |
| &nbsp;&nbsp;&nbsp;EVERTEC | 61231 | 1728 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial | 63774 | 1121 |
| &nbsp;&nbsp;&nbsp;First Financial | 9381 | 593 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | 45350 | 1264 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings | 11708 | 2201 |
| &nbsp;&nbsp;&nbsp;Flagstar Bank | 69796 | 919 |
| &nbsp;&nbsp;&nbsp;FNB | 100528 | 1681 |
| &nbsp;&nbsp;&nbsp;Great Southern Bancorp | 9884 | 624 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney | 19775 | 1257 |
| &nbsp;&nbsp;&nbsp;Heritage Insurance Holdings <sup>\*</sup> | 21723 | 570 |
| &nbsp;&nbsp;&nbsp;Independent Bank | 19656 | 654 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Cl A | 37895 | 4006 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group | 2324 | 794 |
| &nbsp;&nbsp;&nbsp;Lemonade <sup>\*</sup> | 21380 | 1340 |
| &nbsp;&nbsp;&nbsp;LendingTree <sup>\*</sup> | 6812 | 292 |
| &nbsp;&nbsp;&nbsp;Lincoln National | 42800 | 1519 |
| &nbsp;&nbsp;&nbsp;Marqeta, Cl A <sup>\*</sup> | 440596 | 1798 |
| &nbsp;&nbsp;&nbsp;Mercantile Bank | 6830 | 345 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank Holding | 7848 | 654 |
| &nbsp;&nbsp;&nbsp;Miami International Holdings <sup>\*</sup> | 23985 | 933 |
| &nbsp;&nbsp;&nbsp;Navient | 42132 | 345 |
| &nbsp;&nbsp;&nbsp;NBT Bancorp | 33513 | 1427 |
| &nbsp;&nbsp;&nbsp;NerdWallet, Cl A <sup>\*</sup> | 44382 | 461 |
| &nbsp;&nbsp;&nbsp;Nicolet Bankshares | 14822 | 2203 |
| &nbsp;&nbsp;&nbsp;Northeast Bank | 6123 | 688 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | 23226 | 940 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | 188342 | 4162 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings <sup>\*</sup> | 6802 | 813 |
| &nbsp;&nbsp;&nbsp;Pathward Financial | 11719 | 1046 |
| &nbsp;&nbsp;&nbsp;Piper Sandler | 8416 | 644 |
| &nbsp;&nbsp;&nbsp;PJT Partners | 4358 | 609 |
| &nbsp;&nbsp;&nbsp;Preferred Bank | 6806 | 617 |
| &nbsp;&nbsp;&nbsp;PROG Holdings | 45135 | 1295 |
| &nbsp;&nbsp;&nbsp;Ryan Specialty Holdings, Cl A | 9815 | 331 |
| &nbsp;&nbsp;&nbsp;Sierra Bancorp | 14425 | 489 |
| &nbsp;&nbsp;&nbsp;Southern Missouri Bancorp | 12174 | 778 |
| &nbsp;&nbsp;&nbsp;StoneCo, Cl A <sup>\*</sup> | 50401 | 712 |
| &nbsp;&nbsp;&nbsp;StoneX Group <sup>\*</sup> | 10788 | 870 |
| &nbsp;&nbsp;&nbsp;Tompkins Financial | 12900 | 1017 |
| &nbsp;&nbsp;&nbsp;Towne Bank | 17217 | 580 |
| &nbsp;&nbsp;&nbsp;UMB Financial | 28023 | 3161 |
| &nbsp;&nbsp;&nbsp;Unity Bancorp | 10437 | 541 |
| &nbsp;&nbsp;&nbsp;Universal Insurance Holdings | 26080 | 891 |
| &nbsp;&nbsp;&nbsp;Univest Financial | 32523 | 1114 |
| &nbsp;&nbsp;&nbsp;WisdomTree | 152875 | 2226 |
| &nbsp;&nbsp;&nbsp;WSFS Financial | 10313 | 675 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp | 46993 | 2708 |
|  |  | 85540 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Health Care — 14.7%** |  |  |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals <sup>\*</sup> | 48411 | $1078 |
| &nbsp;&nbsp;&nbsp;Adaptive Biotechnologies <sup>\*</sup> | 38519 | 535 |
| &nbsp;&nbsp;&nbsp;Addus HomeCare <sup>\*</sup> | 6491 | 608 |
| &nbsp;&nbsp;&nbsp;ADMA Biologics <sup>\*</sup> | 55918 | 504 |
| &nbsp;&nbsp;&nbsp;Alignment Healthcare <sup>\*</sup> | 129871 | 2288 |
| &nbsp;&nbsp;&nbsp;Alkermes <sup>\*</sup> | 29345 | 1038 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals <sup>\*</sup> | 110542 | 1374 |
| &nbsp;&nbsp;&nbsp;ANI Pharmaceuticals <sup>\*</sup> | 25139 | 1933 |
| &nbsp;&nbsp;&nbsp;Arcturus Therapeutics Holdings <sup>\*</sup> | 32335 | 250 |
| &nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics <sup>\*</sup> | 36583 | 862 |
| &nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals <sup>\*</sup> | 53674 | 795 |
| &nbsp;&nbsp;&nbsp;Axogen <sup>\*</sup> | 20516 | 680 |
| &nbsp;&nbsp;&nbsp;Bio-Techne | 14666 | 766 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma <sup>\*</sup> | 71818 | 5333 |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services <sup>\*</sup> | 25666 | 1094 |
| &nbsp;&nbsp;&nbsp;CareDx <sup>\*</sup> | 34936 | 606 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals <sup>\*</sup> | 53835 | 1333 |
| &nbsp;&nbsp;&nbsp;Celcuity <sup>\*</sup> | 6716 | 767 |
| &nbsp;&nbsp;&nbsp;Certara <sup>\*</sup> | 72304 | 412 |
| &nbsp;&nbsp;&nbsp;CG oncology <sup>\*</sup> | 10242 | 693 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical <sup>\*</sup> | 43300 | 1432 |
| &nbsp;&nbsp;&nbsp;Emergent BioSolutions <sup>\*</sup> | 57461 | 477 |
| &nbsp;&nbsp;&nbsp;GeneDx Holdings, Cl A <sup>\*</sup> | 4226 | 271 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Cl A <sup>\*</sup> | 18691 | 1610 |
| &nbsp;&nbsp;&nbsp;Guardant Health <sup>\*</sup> | 17354 | 1603 |
| &nbsp;&nbsp;&nbsp;Haemonetics <sup>\*</sup> | 17078 | 962 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics <sup>\*</sup> | 9974 | 645 |
| &nbsp;&nbsp;&nbsp;HealthEquity <sup>\*</sup> | 8682 | 726 |
| &nbsp;&nbsp;&nbsp;Ideaya Biosciences <sup>\*</sup> | 30851 | 1028 |
| &nbsp;&nbsp;&nbsp;Indivior Pharmaceuticals <sup>\*</sup> | 19412 | 592 |
| &nbsp;&nbsp;&nbsp;Inmode <sup>\*</sup> | 68344 | 935 |
| &nbsp;&nbsp;&nbsp;Innoviva <sup>\*</sup> | 71207 | 1659 |
| &nbsp;&nbsp;&nbsp;Intellia Therapeutics <sup>\*</sup> | 83263 | 1067 |
| &nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals, Cl A <sup>\*</sup> | 155808 | 547 |
| &nbsp;&nbsp;&nbsp;Keros Therapeutics <sup>\*</sup> | 35631 | 393 |
| &nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals International, Cl A <sup>\*</sup> | 15968 | 769 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech <sup>\*</sup> | 4050 | 1046 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings <sup>\*</sup> | 10385 | 788 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals <sup>\*</sup> | 3173 | 633 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals <sup>\*</sup> | 1497 | 784 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems <sup>\*</sup> | 7366 | 508 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare <sup>\*</sup> | 32219 | 4295 |
| &nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics <sup>\*</sup> | 31125 | 512 |
| &nbsp;&nbsp;&nbsp;Novavax <sup>\*</sup> | 68480 | 557 |
| &nbsp;&nbsp;&nbsp;Novocure <sup>\*</sup> | 32239 | 351 |
| &nbsp;&nbsp;&nbsp;Nuvation Bio <sup>\*</sup> | 138866 | 596 |
| &nbsp;&nbsp;&nbsp;Omnicell <sup>\*</sup> | 8423 | 281 |
| &nbsp;&nbsp;&nbsp;Pennant Group <sup>\*</sup> | 22237 | 678 |
| &nbsp;&nbsp;&nbsp;Phibro Animal Health, Cl A | 25772 | 1425 |
| &nbsp;&nbsp;&nbsp;Praxis Precision Medicines <sup>\*</sup> | 2205 | 710 |
| &nbsp;&nbsp;&nbsp;Progyny <sup>\*</sup> | 110644 | 1879 |

---

SEI Exchange Traded Funds 23

**SCHEDULE OF INVESTMENTS**

March 31, 2026

**SEI Select Small Cap ETF** (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics <sup>\*</sup> | 31308 | $2133 |
| &nbsp;&nbsp;&nbsp;Relay Therapeutics <sup>\*</sup> | 61274 | 610 |
| &nbsp;&nbsp;&nbsp;Repligen <sup>\*</sup> | 10515 | 1239 |
| &nbsp;&nbsp;&nbsp;Rigel Pharmaceuticals <sup>\*</sup> | 14156 | 383 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics <sup>\*</sup> | 23969 | 802 |
| &nbsp;&nbsp;&nbsp;Stoke Therapeutics <sup>\*</sup> | 26801 | 873 |
| &nbsp;&nbsp;&nbsp;Syndax Pharmaceuticals <sup>\*</sup> | 45923 | 1073 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology <sup>\*</sup> | 29565 | 772 |
| &nbsp;&nbsp;&nbsp;Tarsus Pharmaceuticals <sup>\*</sup> | 11122 | 780 |
| &nbsp;&nbsp;&nbsp;TG Therapeutics <sup>\*</sup> | 15740 | 523 |
| &nbsp;&nbsp;&nbsp;Veracyte <sup>\*</sup> | 29617 | 954 |
| &nbsp;&nbsp;&nbsp;Viridian Therapeutics <sup>\*</sup> | 60263 | 1179 |
|  |  | 64029 |
| **Industrials — 20.7%** |  |  |
| &nbsp;&nbsp;&nbsp;AAON | 16992 | 1406 |
| &nbsp;&nbsp;&nbsp;Advanced Drainage Systems | 13144 | 1802 |
| &nbsp;&nbsp;&nbsp;American Superconductor <sup>\*</sup> | 22871 | 774 |
| &nbsp;&nbsp;&nbsp;Amprius Technologies <sup>\*</sup> | 35608 | 600 |
| &nbsp;&nbsp;&nbsp;Argan | 5508 | 3000 |
| &nbsp;&nbsp;&nbsp;Astec Industries | 34751 | 1871 |
| &nbsp;&nbsp;&nbsp;Atmus Filtration Technologies | 47100 | 2674 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*</sup> | 3357 | 1426 |
| &nbsp;&nbsp;&nbsp;Bloom Energy, Cl A <sup>\*</sup> | 27345 | 3705 |
| &nbsp;&nbsp;&nbsp;Brink's | 9821 | 1018 |
| &nbsp;&nbsp;&nbsp;Cimpress <sup>\*</sup> | 19752 | 1442 |
| &nbsp;&nbsp;&nbsp;Construction Partners, Cl A <sup>\*</sup> | 7055 | 784 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*</sup> | 15379 | 511 |
| &nbsp;&nbsp;&nbsp;Costamare | 42649 | 721 |
| &nbsp;&nbsp;&nbsp;Deluxe | 34898 | 961 |
| &nbsp;&nbsp;&nbsp;Dycom Industries <sup>\*</sup> | 4236 | 1435 |
| &nbsp;&nbsp;&nbsp;EnerSys | 4751 | 825 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings <sup>\*</sup> | 129189 | 3934 |
| &nbsp;&nbsp;&nbsp;Exponent | 21885 | 1428 |
| &nbsp;&nbsp;&nbsp;Federal Signal | 34658 | 3748 |
| &nbsp;&nbsp;&nbsp;Graham <sup>\*</sup> | 13895 | 1097 |
| &nbsp;&nbsp;&nbsp;Greenbrier | 20695 | 1090 |
| &nbsp;&nbsp;&nbsp;Healthcare Services Group <sup>\*</sup> | 51013 | 946 |
| &nbsp;&nbsp;&nbsp;HNI | 25035 | 836 |
| &nbsp;&nbsp;&nbsp;Insteel Industries | 16782 | 564 |
| &nbsp;&nbsp;&nbsp;Interface, Cl A | 42091 | 1049 |
| &nbsp;&nbsp;&nbsp;Kennametal | 64161 | 2318 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | 13191 | 830 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions <sup>\*</sup> | 19638 | 1385 |
| &nbsp;&nbsp;&nbsp;Lyft, Cl A <sup>\*</sup> | 113443 | 1509 |
| &nbsp;&nbsp;&nbsp;Matson | 4992 | 818 |
| &nbsp;&nbsp;&nbsp;Maximus | 10724 | 687 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing <sup>\*</sup> | 11431 | 2477 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Cl A | 23547 | 647 |
| &nbsp;&nbsp;&nbsp;Nextpower, Cl A <sup>\*</sup> | 35550 | 4286 |
| &nbsp;&nbsp;&nbsp;NWPX Infrastructure <sup>\*</sup> | 8864 | 690 |
| &nbsp;&nbsp;&nbsp;OPENLANE <sup>\*</sup> | 44425 | 1295 |
| &nbsp;&nbsp;&nbsp;Powell Industries | 4358 | 2358 |
| &nbsp;&nbsp;&nbsp;Power Solutions International <sup>\*</sup> | 8276 | 504 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Primoris Services | 26096 | $3733 |
| &nbsp;&nbsp;&nbsp;Proto Labs <sup>\*</sup> | 17890 | 1020 |
| &nbsp;&nbsp;&nbsp;RBC Bearings <sup>\*</sup> | 6413 | 3483 |
| &nbsp;&nbsp;&nbsp;Rollins | 33990 | 1815 |
| &nbsp;&nbsp;&nbsp;SkyWest <sup>\*</sup> | 8547 | 785 |
| &nbsp;&nbsp;&nbsp;SPX Technologies <sup>\*</sup> | 4937 | 987 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure <sup>\*</sup> | 9136 | 3721 |
| &nbsp;&nbsp;&nbsp;Terex | 62559 | 3697 |
| &nbsp;&nbsp;&nbsp;Titan International <sup>\*</sup> | 55471 | 383 |
| &nbsp;&nbsp;&nbsp;Tutor Perini | 12698 | 980 |
| &nbsp;&nbsp;&nbsp;Upwork <sup>\*</sup> | 84948 | 931 |
| &nbsp;&nbsp;&nbsp;V2X <sup>\*</sup> | 15612 | 1069 |
| &nbsp;&nbsp;&nbsp;Vicor <sup>\*</sup> | 3656 | 589 |
| &nbsp;&nbsp;&nbsp;Watsco | 1211 | 441 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Cl A | 14911 | 4329 |
| &nbsp;&nbsp;&nbsp;WESCO International | 4077 | 1116 |
| &nbsp;&nbsp;&nbsp;Willdan Group <sup>\*</sup> | 10908 | 835 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises | 13488 | 703 |
|  |  | 90068 |
| **Information Technology — 16.0%** |  |  |
| &nbsp;&nbsp;&nbsp;ACI Worldwide <sup>\*</sup> | 27241 | 1117 |
| &nbsp;&nbsp;&nbsp;ACM Research, Cl A <sup>\*</sup> | 15651 | 616 |
| &nbsp;&nbsp;&nbsp;Adeia | 28475 | 684 |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries | 3920 | 1265 |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings <sup>\*</sup> | 19406 | 838 |
| &nbsp;&nbsp;&nbsp;Amkor Technology | 12689 | 571 |
| &nbsp;&nbsp;&nbsp;Applied Optoelectronics <sup>\*</sup> | 5334 | 451 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies <sup>\*</sup> | 7585 | 706 |
| &nbsp;&nbsp;&nbsp;BlackLine <sup>\*</sup> | 12993 | 481 |
| &nbsp;&nbsp;&nbsp;Calix <sup>\*</sup> | 13472 | 660 |
| &nbsp;&nbsp;&nbsp;Clear Secure, Cl A | 97307 | 4711 |
| &nbsp;&nbsp;&nbsp;Commvault Systems <sup>\*</sup> | 5406 | 421 |
| &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions <sup>\*</sup> | 22136 | 525 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding <sup>\*</sup> | 29826 | 2800 |
| &nbsp;&nbsp;&nbsp;Descartes Systems Group <sup>\*</sup> | 10668 | 763 |
| &nbsp;&nbsp;&nbsp;Diebold Nixdorf <sup>\*</sup> | 20946 | 1580 |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings <sup>\*</sup> | 9653 | 828 |
| &nbsp;&nbsp;&nbsp;Diodes <sup>\*</sup> | 25532 | 1743 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*</sup> | 4317 | 584 |
| &nbsp;&nbsp;&nbsp;ePlus | 30894 | 2325 |
| &nbsp;&nbsp;&nbsp;Fabrinet <sup>\*</sup> | 7211 | 3761 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*</sup> | 816 | 871 |
| &nbsp;&nbsp;&nbsp;Five9 <sup>\*</sup> | 56192 | 852 |
| &nbsp;&nbsp;&nbsp;Freshworks, Cl A <sup>\*</sup> | 42038 | 338 |
| &nbsp;&nbsp;&nbsp;HubSpot <sup>\*</sup> | 2724 | 665 |
| &nbsp;&nbsp;&nbsp;Intapp <sup>\*</sup> | 15257 | 392 |
| &nbsp;&nbsp;&nbsp;InterDigital | 4777 | 1443 |
| &nbsp;&nbsp;&nbsp;IonQ <sup>\*</sup> | 25028 | 722 |
| &nbsp;&nbsp;&nbsp;Itron <sup>\*</sup> | 3565 | 320 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*</sup> | 10740 | 3033 |
| &nbsp;&nbsp;&nbsp;Kimball Electronics <sup>\*</sup> | 22016 | 522 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings <sup>\*</sup> | 27660 | 734 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 2027 | 2216 |

---

24 SEI Exchange Traded Funds

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;NetScout Systems <sup>\*</sup> | 51777 | $1646 |
| &nbsp;&nbsp;&nbsp;Novanta <sup>\*</sup> | 5871 | 693 |
| &nbsp;&nbsp;&nbsp;Onto Innovation <sup>\*</sup> | 4845 | 994 |
| &nbsp;&nbsp;&nbsp;Open Text | 128338 | 2854 |
| &nbsp;&nbsp;&nbsp;PC Connection | 5253 | 307 |
| &nbsp;&nbsp;&nbsp;Photronics <sup>\*</sup> | 95202 | 3847 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings <sup>\*</sup> | 18788 | 889 |
| &nbsp;&nbsp;&nbsp;Qualys <sup>\*</sup> | 5180 | 455 |
| &nbsp;&nbsp;&nbsp;Quantum Computing <sup>\*</sup> | 73380 | 503 |
| &nbsp;&nbsp;&nbsp;Rambus <sup>\*</sup> | 9559 | 822 |
| &nbsp;&nbsp;&nbsp;Rigetti Computing <sup>\*</sup> | 23213 | 326 |
| &nbsp;&nbsp;&nbsp;Sanmina <sup>\*</sup> | 11996 | 1555 |
| &nbsp;&nbsp;&nbsp;ScanSource <sup>\*</sup> | 15634 | 567 |
| &nbsp;&nbsp;&nbsp;Silicon Motion Technology ADR | 15079 | 1693 |
| &nbsp;&nbsp;&nbsp;SiTime <sup>\*</sup> | 6460 | 2231 |
| &nbsp;&nbsp;&nbsp;TTM Technologies <sup>\*</sup> | 49231 | 4796 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*</sup> | 3372 | 1154 |
| &nbsp;&nbsp;&nbsp;Vertex, Cl A <sup>\*</sup> | 21496 | 256 |
| &nbsp;&nbsp;&nbsp;Viasat <sup>\*</sup> | 29525 | 1352 |
| &nbsp;&nbsp;&nbsp;Viavi Solutions <sup>\*</sup> | 93755 | 3120 |
| &nbsp;&nbsp;&nbsp;Xerox Holdings <sup>\*</sup> | 167071 | 153 |
|  |  | 69751 |
| **Materials — 4.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Balchem | 8003 | 1356 |
| &nbsp;&nbsp;&nbsp;Caledonia Mining | 21465 | 485 |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs <sup>\*</sup> | 336785 | 2846 |
| &nbsp;&nbsp;&nbsp;Coeur Mining <sup>\*</sup> | 81832 | 1536 |
| &nbsp;&nbsp;&nbsp;Commercial Metals | 77574 | 4765 |
| &nbsp;&nbsp;&nbsp;Hecla Mining | 29235 | 545 |
| &nbsp;&nbsp;&nbsp;Hudbay Minerals | 120754 | 2524 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Cl I <sup>\*</sup> | 110595 | 1162 |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions <sup>\*</sup> | 43869 | 1071 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies | 11242 | 972 |
| &nbsp;&nbsp;&nbsp;SSR Mining <sup>\*</sup> | 89942 | 2644 |
|  |  | 19906 |
| **Real Estate — 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Brixmor Property Group <sup>‡</sup> | 24352 | 701 |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*</sup> | 18166 | 733 |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield <sup>\*</sup> | 96770 | 1186 |
| &nbsp;&nbsp;&nbsp;DiamondRock Hospitality <sup>‡</sup> | 89512 | 839 |
| &nbsp;&nbsp;&nbsp;Diversified Healthcare Trust <sup>‡</sup> | 117746 | 782 |
| &nbsp;&nbsp;&nbsp;eXp World Holdings | 58442 | 350 |
| &nbsp;&nbsp;&nbsp;Highwoods Properties <sup>‡</sup> | 66544 | 1425 |
| &nbsp;&nbsp;&nbsp;Newmark Group, Cl A | 70321 | 1054 |
| &nbsp;&nbsp;&nbsp;Piedmont Realty Trust, Cl A <sup>‡</sup> | 108997 | 716 |
| &nbsp;&nbsp;&nbsp;Real Brokerage <sup>\*</sup> | 66430 | 166 |
| &nbsp;&nbsp;&nbsp;Safehold <sup>‡</sup> | 12554 | 170 |
| &nbsp;&nbsp;&nbsp;SL Green Realty <sup>‡</sup> | 13036 | 481 |
| &nbsp;&nbsp;&nbsp;Terreno Realty <sup>‡</sup> | 11410 | 701 |
|  |  | 9304 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Market Value<br> ($ Thousands) |
| **COMMON STOCK (continued)** |  |  |
| **Utilities — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries <sup>\*</sup> | 60222 | $894 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $399,071) ($ Thousands) |  | 434101 |
| Total Investments in Securities — 99.8% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $399,071) ($ Thousands) |  | $434101 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $435,085 ($ Thousands). |
| \* | Non-income producing security. |

---

<sup>‡</sup> Real Estate Investment Trust.

As of March 31, 2026, all of the Fund's investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 25

**Glossary (abbreviations which may be used in the preceding Schedules of Investments):**

**Portfolio Abbreviations**

ADR — American Depositary Receipt

AUD — Australian Dollar

CAD — Canadian Dollar

Cl — Class

EAFE — Europe, Australasia and Far East

ETF — Exchange-Traded Fund

NVDR — Non-voting Depository Receipt

NASDAQ — National Association of Securities Dealers and Automated Quotations

PJSC — Public Joint Stock Company

REIT — Real Estate Investment Trust

SGPS — Sociedade Gestroa de Participacoes Sociais

SOFR — Secured Overnight Financing Rate

S&P — Standard & Poor's

The accompanying notes are an integral part of the financial statements.

26 SEI Exchange Traded Funds

**STATEMENTS OF ASSETS AND LIABILITIES ($ Thousands)**

March 31, 2026

---

| | | |
|:---|:---|:---|
| | **SEI DBi Multi-Strategy<br> Alternative ETF** | **SEI Enhanced Low Volatility<br> U.S. Large Cap ETF** |
| **Assets:** | | |
| &nbsp;&nbsp;&nbsp;Investments, at value<sup>†</sup> | $— | $225964 |
| &nbsp;&nbsp;&nbsp;Cash | 166294 | 1196 |
| &nbsp;&nbsp;&nbsp;Foreign currency, at value <sup>††</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Cash pledged as collateral for futures contracts | 18409 |  |
| &nbsp;&nbsp;&nbsp;Receivable for variation margin on futures contracts | 1958 |  |
| &nbsp;&nbsp;&nbsp;Dividends receivable | 445 | 230 |
| &nbsp;&nbsp;&nbsp;Receivable for fund shares sold |  |  |
| &nbsp;&nbsp;&nbsp;Foreign tax reclaim receivable |  | 2 |
| &nbsp;&nbsp;&nbsp;Total Assets | 187106 | 227392 |
| **Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Payable for variation margin | 1913 |  |
| &nbsp;&nbsp;&nbsp;Investment advisory fees payable | 335 | 51 |
| &nbsp;&nbsp;&nbsp;Payable for investment securities purchased |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized loss on foreign spot currency contracts |  |  |
| &nbsp;&nbsp;&nbsp;Accrued foreign capital gains tax on appreciated securities |  |  |
| &nbsp;&nbsp;&nbsp;Total Liabilities | 2248 | 51 |
| &nbsp;&nbsp;&nbsp;Net Assets | $184858 | $227341 |
| &nbsp;&nbsp;&nbsp;<sup>†</sup> Cost of investments | $— | $207076 |
| &nbsp;&nbsp;&nbsp;<sup>††</sup> Cost of foreign currency |  |  |
| **Net Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Paid-in capital — (unlimited authorization — no par value) | $181107 | $212722 |
| &nbsp;&nbsp;&nbsp;Total distributable earnings (accumulated losses) | 3751 | 14619 |
| &nbsp;&nbsp;&nbsp;Net Assets | $184858 | $227341 |
| **Net Asset Value, Offering and Redemption Price Per Share** | $25.34 | $32.36 |
|  | ($184,857,843 ÷ <br> 7,294,631 shares) | ($227,340,805 ÷ <br> 7,025,000 shares) |

---

Amounts designated as "—" are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

27 SEI Exchange Traded Funds

**STATEMENTS OF ASSETS AND LIABILITIES ($ Thousands)**

March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SEI Enhanced U.S. Large<br> Cap Momentum Factor<br> ETF** | **SEI Enhanced U.S. Large<br> Cap Quality Factor ETF** | **SEI Enhanced U.S. Large<br> Cap Value Factor ETF** | **SEI Select Emerging<br> Markets Equity ETF** | **SEI Select International<br> Equity ETF** | **SEI Select Small Cap ETF** |
| $1160095 | $553319 | $1163782 | $452467 | $920614 | $434101 |
| 8615 | 1908 | 8278 | 3756 | 4456 | 1128 |
|  |  |  | 169 | 1076 |  |
| 597 | 464 | 744 | 1249 | 3704 | 115 |
| 3415 |  | 2074 |  |  |  |
|  |  | 2 | 44 | 1677 | 16 |
| 1172722 | 555691 | 1174880 | 457685 | 931527 | 435360 |
| 267 | 129 | 259 | 348 | 544 | 275 |
| 3333 |  | 2080 |  |  |  |
|  |  |  |  | 2 |  |
|  |  |  | 217 |  |  |
| 3600 | 129 | 2339 | 565 | 546 | 275 |
| $1169122 | $555562 | $1172541 | $457120 | $930981 | $435085 |
| $1049088 | $549707 | $1013797 | $397526 | $819308 | $399071 |
|  |  |  | 119 |  |  |
| $1129090 | $564613 | $1055614 | $403124 | $837400 | $426498 |
| 40032 | (9051) | 116927 | 53996 | 93581 | 8587 |
| $1169122 | $555562 | $1172541 | $457120 | $930981 | $435085 |
| $45.54 | $36.43 | $41.47 | $31.58 | $31.99 | $27.62 |
| ($1,169,122,431 ÷ 25,675,000 shares) | ($555,562,498 ÷ 15,250,000 shares) | ($1,172,541,194 ÷ 28,275,000 shares) | ($457,120,443 ÷ 14,475,000 shares) | ($930,980,973 ÷ 29,100,000 shares) | ($435,084,787 ÷ 15,750,000 shares) |

---

SEI Exchange Traded Funds 28

**STATEMENTS OF OPERATIONS ($ Thousands)**

For the six-month period ended March 31, 2026, and year ended September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **SEI DBi Multi-Strategy Alternative ETF** | **SEI DBi Multi-Strategy Alternative ETF** |
|  | **10/1/2025 to 3/31/2026** **<sup>(1)</sup>** | **10/1/2024 to 9/30/2025** **<sup>(2)</sup>** |
| **Investment income:** |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | 3131 | 7499 |
| &nbsp;&nbsp;&nbsp;Total investment income | 3131 | 7499 |
| **Expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory fees | 740 | 1023 |
| &nbsp;&nbsp;&nbsp;Trustee fees | 1 | 5 |
| &nbsp;&nbsp;&nbsp;Administration fees |  | 523 |
| &nbsp;&nbsp;&nbsp;Shareholder servicing fees |  | 398 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer fees |  | 2 |
| &nbsp;&nbsp;&nbsp;Printing fees |  | 44 |
| &nbsp;&nbsp;&nbsp;Registration fees |  | 12 |
| &nbsp;&nbsp;&nbsp;Custodian/wire agent fees |  | 13 |
| &nbsp;&nbsp;&nbsp;Legal Fees |  | 213 |
| &nbsp;&nbsp;&nbsp;Audit Fees |  | 27 |
| &nbsp;&nbsp;&nbsp;Proxy fees |  | 25 |
| &nbsp;&nbsp;&nbsp;Other expenses |  | 8 |
| &nbsp;&nbsp;&nbsp;Total expenses | 741 | 2293 |
| &nbsp;&nbsp;&nbsp;Waiver of investment advisory fees |  | (64) |
| &nbsp;&nbsp;&nbsp;Waiver of administration fees |  | (6) |
| &nbsp;&nbsp;&nbsp;Waiver of shareholder servicing fees |  | (28) |
| &nbsp;&nbsp;&nbsp;Net expenses | 741 | 2195 |
| **Net investment income** | 2390 | 5304 |
| **Net realized gain (loss) on:** |  |  |
| &nbsp;&nbsp;&nbsp;Futures contracts | 7977 | 2269 |
| &nbsp;&nbsp;&nbsp;**Net realized gain** | 7977 | 2269 |
| **Net change in unrealized appreciation (depreciation) on:** |  |  |
| &nbsp;&nbsp;&nbsp;Futures contracts | (1307) | (1793) |
| **Net change in unrealized appreciation (depreciation)** | (1307) | (1793) |
| **Net realized and unrealized gain** | 6670 | 476 |
| **Net increase in net assets resulting from operations** | $9060 | $5780 |

---

<sup>(1)</sup> For the period October 1, 2025 to March 31, 2026. On September 16, 2025, the SEI DBi Multi-Strategy Alternative ETF changed its fiscal year end to March 31 (see Note 1 and Note 8 in the Notes to Financial Statements)

<sup>(2)</sup> Effective as of close of business on August 22, 2025, the SEI Institutional Managed Trust Liquid Alternative Fund was reorganized into the SEI DBi Multi-Strategy Alternative ETF. Information presented prior to the close of business on August 22, 2025, is that of the SEI Institutional Managed Trust Liquid Alternative Fund. See Note 1 and Note 8 in the Notes to Financial Statements.

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 29

**STATEMENTS OF OPERATIONS ($ Thousands)**

For the year ended March 31, 2026

---

| | | |
|:---|:---|:---|
| | **SEI Enhanced Low Volatility<br> U.S. Large Cap ETF** | **SEI Enhanced U.S. Large Cap<br> Momentum Factor ETF** |
| | **4/1/2025 to 3/31/2026** | **4/1/2025 to 3/31/2026** |
| **Investment income:** | | |
| &nbsp;&nbsp;&nbsp;Dividends | $3626 | $7187 |
| &nbsp;&nbsp;&nbsp;Interest income | 21 | 122 |
| &nbsp;&nbsp;&nbsp;Less: foreign taxes withheld | (1) |  |
| &nbsp;&nbsp;&nbsp;Total investment income | 3646 | 7309 |
| **Expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory fees | 269 | 1306 |
| &nbsp;&nbsp;&nbsp;Trustee fees | 6 | 29 |
| &nbsp;&nbsp;&nbsp;Proxy fees | 1 | 4 |
| &nbsp;&nbsp;&nbsp;Total expenses | 276 | 1339 |
| **Net investment income** | 3370 | 5970 |
| **Net realized gain (loss) on:** |  |  |
| &nbsp;&nbsp;&nbsp;Investments<sup>(1)</sup> | 7957 | 78898 |
| &nbsp;&nbsp;&nbsp;Foreign capital gains tax |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency transactions |  |  |
| &nbsp;&nbsp;&nbsp;**Net realized gain (loss)** | 7957 | 78898 |
| **Net change in unrealized appreciation (depreciation) on:** |  |  |
| &nbsp;&nbsp;&nbsp;Investments | 747 | 73427 |
| &nbsp;&nbsp;&nbsp;Foreign capital gains tax on appreciated securities |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency and translation of other assets and liabilities denominated in foreign currency |  |  |
| **Net change in unrealized appreciation (depreciation)** | 747 | 73427 |
| **Net realized and unrealized gain** | 8704 | 152325 |
| **Net increase in net assets resulting from operations** | $12074 | $158295 |

---

<sup>(1)</sup> Includes realized gains (losses) as a result of in-kind redemptions (see Note 4 in Notes to Financial Statements).

The accompanying notes are an integral part of the financial statements.

30 SEI Exchange Traded Funds

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SEI Enhanced U.S. Large Cap<br> Quality Factor ETF** | **SEI Enhanced U.S. Large Cap<br> Value Factor ETF** | **SEI Select Emerging Markets<br> Equity ETF** | **SEI Select International Equity<br> ETF** | **SEI Select Small Cap ETF** |
| **4/1/2025 to 3/31/2026** | **4/1/2025 to 3/31/2026** | **4/1/2025 to 3/31/2026** | **4/1/2025 to 3/31/2026** | **4/1/2025 to 3/31/2026** |
| $5127 | $16737 | $9548 | $24698 | $3253 |
| 64 | 100 | 63 | 102 | 32 |
|  | (52) | (1070) | (2669) | (22) |
| 5191 | 16785 | 8541 | 22131 | 3263 |
| 639 | 1280 | 1885 | 3693 | 1809 |
| 15 | 28 | 11 | 26 | 11 |
| 3 | 4 | 1 | 1 | 1 |
| 657 | 1312 | 1897 | 3720 | 1821 |
| 4534 | 15473 | 6644 | 18411 | 1442 |
| 19283 | 60067 | 12288 | 51296 | (9237) |
|  |  | (6) |  |  |
|  |  | (251) | (294) |  |
| 19283 | 60067 | 12031 | 51002 | (9237) |
| (15988) | 121574 | 54550 | 77823 | 48922 |
|  |  | (217) |  |  |
|  |  | 29 | 10 |  |
| (15988) | 121574 | 54362 | 77833 | 48922 |
| 3295 | 181641 | 66393 | 128835 | 39685 |
| $7829 | $197114 | $73037 | $147246 | $41127 |

---

SEI Exchange Traded Funds 31

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the six-month period ended March 31, 2026, and years ended September 30,

---

| | | | |
|:---|:---|:---|:---|
|  | **SEI DBi Multi-Strategy Alternative ETF<sup>(1)</sup>** | **SEI DBi Multi-Strategy Alternative ETF<sup>(1)</sup>** | **SEI DBi Multi-Strategy Alternative ETF<sup>(1)</sup>** |
|  | **10/1/2025 to**<br> **3/31/2026** | **10/1/2024 to**<br> **9/30/2025** | **10/1/2023 to**<br> **9/30/2024** |
| **Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $2390 | $5304 | $4901 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 7977 | 2269 | 1819 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (1307) | (1793) | 2811 |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 9060 | 5780 | 9531 |
| **Distributions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (9277) | N/A | N/A |
| &nbsp;&nbsp;&nbsp;Class F | N/A | (10059) | (111) |
| &nbsp;&nbsp;&nbsp;Class Y | N/A | (1081) | (280) |
| &nbsp;&nbsp;&nbsp;Total Distributions | (9277) | (11140) | (391) |
| **Capital share transactions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from shares issued | 2624 |  | N/A |
| &nbsp;&nbsp;&nbsp;Reinvestment of dividends & distributions |  |  | N/A |
| &nbsp;&nbsp;&nbsp;Cost of shares redeemed | (6453) | (635) | N/A |
| &nbsp;&nbsp;&nbsp;Reorganization transactions# | N/A | 186746 | N/A |
| &nbsp;&nbsp;&nbsp;Net increase/(decrease) in net assets derived from capital share transactions | (3829) | 186111 | N/A |
| &nbsp;&nbsp;&nbsp;**Class F<sup>^</sup>:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | N/A | 39897 | 203720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of dividends & distributions | N/A | 9661 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | N/A | (39689) | (29030) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reorganization transactions# | N/A | (186746) |  |
| &nbsp;&nbsp;&nbsp;Net increase/(decrease) in net assets derived from Class F<sup>^</sup> capital share transactions | N/A | (176877) | 174768 |
| &nbsp;&nbsp;&nbsp;**Class Y<sup>^</sup>:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | N/A | 1532 | 11292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of dividends & distributions | N/A | 1069 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | N/A | (21304) | (3105) |
| &nbsp;&nbsp;&nbsp;Net increase/(decrease) in net assets derived from Class Y<sup>^</sup> capital share transactions | N/A | (18703) | 8467 |
| &nbsp;&nbsp;&nbsp;Net increase/(decrease) in net assets derived from capital share transactions | (3829) | (9469) | 183235 |
| &nbsp;&nbsp;&nbsp;**Net increase/(decrease) in net assets** | (4046) | (14829) | 192375 |
| **Net assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of period | 188904 | 203733 | 11358 |
| &nbsp;&nbsp;&nbsp;End of period | $184858 | $188904 | $203733 |
| **Share Transactions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 100 |  | N/A |
| &nbsp;&nbsp;&nbsp;Shares issued in lieu of dividends and distributions |  |  | N/A |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (250) | (25) | N/A |
| &nbsp;&nbsp;&nbsp;Reorganization transactions# | N/A | 7470 | N/A |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | (150) | 7445 | N/A |
| &nbsp;&nbsp;&nbsp;Class F<sup>^</sup>: |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | N/A | 3935 | 20010 |
| &nbsp;&nbsp;&nbsp;Shares issued in lieu of dividends and distributions | N/A | 937 | 8 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | N/A | (3919) | (2752) |
| &nbsp;&nbsp;&nbsp;Reorganization transactions# | N/A | (18271) |  |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from Class F share transactions | N/A | (17318) | 17266 |
| &nbsp;&nbsp;&nbsp;Class Y<sup>^</sup>: |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | N/A | 148 | 1072 |
| &nbsp;&nbsp;&nbsp;Shares issued in lieu of dividends and distributions | N/A | 104 | 28 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | N/A | (2119) | (298) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from Class Y share transactions | N/A | (1867) | 802 |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in capital shares | (150) | (11740) | 18068 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) On August 3, 2025, the Class Y shares were converted to Class F shares. The performance and financial history
 shown of the class is solely that of the Fund's Class F shares.

# See note 8 in Notes to Financial Statements. <br> ^ Activity shown for Class F and Class Y pertains to the SIMT Liquid Alternative Fund.

N/A - Not applicable

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

32 SEI Exchange Traded Funds

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Enhanced Low Volatility U.S. Large Cap**<br> **ETF** | **SEI Enhanced Low Volatility U.S. Large Cap**<br> **ETF** |
|  | **4/1/2025 to 3/31/2026** | **4/1/2024 to 3/31/2025** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $3370 | $2595 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 7957 | 1673 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 747 | 11479 |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 12074 | 15747 |
| **Distributions:** | (3014) | (2359) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 118244 | 18998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (45678) | (15079) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 72566 | 3919 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 81626 | 17307 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 145715 | 128408 |
| &nbsp;&nbsp;&nbsp;End of year | $227341 | $145715 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 3700 | 625 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (1425) | (500) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 2275 | 125 |

---

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 33

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Enhanced U.S. Large Cap Momentum**<br> **Factor ETF** | **SEI Enhanced U.S. Large Cap Momentum**<br> **Factor ETF** |
|  | **4/1/2025 to 3/31/2026** | **4/1/2024 to 3/31/2025** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $5970 | $3123 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 78898 | 55416 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 73427 | 1987 |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 158295 | 60526 |
| **Distributions:** | (4694) | (2603) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 914237 | 285882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (414757) | (290149) |
| &nbsp;&nbsp;&nbsp;Net increase/(decrease) in net assets derived from capital share transactions | 499480 | (4267) |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 653081 | 53656 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 516041 | 462385 |
| &nbsp;&nbsp;&nbsp;End of year | $1169122 | $516041 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 20550 | 7575 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (9175) | (7675) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 11375 | (100) |

---

The accompanying notes are an integral part of the financial statements.

34 SEI Exchange Traded Funds

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Enhanced U.S. Large Cap Quality Factor**<br> **ETF** | **SEI Enhanced U.S. Large Cap Quality Factor**<br> **ETF** |
|  | **4/1/2025 to 3/31/2026** | **4/1/2024 to 3/31/2025** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $4534 | $2760 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 19283 | 7747 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (15988) | 11090 |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 7829 | 21597 |
| **Distributions:** | (3843) | (2474) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 358053 | 107848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (85643) | (73624) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 272410 | 34224 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 276396 | 53347 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 279166 | 225819 |
| &nbsp;&nbsp;&nbsp;End of year | $555562 | $279166 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 9525 | 3100 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (2275) | (2125) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 7250 | 975 |

---

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 35

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Enhanced U.S. Large Cap Value Factor ETF** | **SEI Enhanced U.S. Large Cap Value Factor ETF** |
|  | **4/1/2025 to 3/31/2026** | **4/1/2024 to 3/31/2025** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $15473 | $9373 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 60067 | 32730 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 121574 | (12949) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 197114 | 29154 |
| **Distributions:** | (13011) | (8298) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 738636 | 257274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (276325) | (219014) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 462311 | 38260 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 646414 | 59116 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 526127 | 467011 |
| &nbsp;&nbsp;&nbsp;End of year | $1172541 | $526127 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 19075 | 7900 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (7000) | (6775) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 12075 | 1125 |

---

The accompanying notes are an integral part of the financial statements.

36 SEI Exchange Traded Funds

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Select Emerging Markets Equity ETF** | **SEI Select Emerging Markets Equity ETF** |
|  | **4/1/2025 to 3/31/2026** | **10/8/2024 to 3/31/2025** **<sup>(1)</sup>** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $6644 | $1770 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | 12031 | (2614) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 54362 | 387 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 73037 | (457) |
| **Distributions:** | (10816) | (612) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 239601 | 207134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (50767) |  |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 188834 | 207134 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 251055 | 206065 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 206065 |  |
| &nbsp;&nbsp;&nbsp;End of year | $457120 | $206065 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 7650 | 8450 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (1625) |  |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 6025 | 8450 |

---

<sup>(1)</sup> The Fund commenced operations on October 8, 2024.

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 37

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Select International Equity ETF** | **SEI Select International Equity ETF** |
|  | **4/1/2025 to 3/31/2026** | **10/8/2024 to 3/31/2025** **<sup>(1)</sup>** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $18411 | $3910 |
| &nbsp;&nbsp;&nbsp;Net realized gain | 51002 | 952 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 77833 | 23495 |
| &nbsp;&nbsp;&nbsp;Net increase in net assets resulting from operations | 147246 | 28357 |
| **Distributions:** | (16705) | (844) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 488537 | 579417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (231210) | (63817) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 257327 | 515600 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 387868 | 543113 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 543113 |  |
| &nbsp;&nbsp;&nbsp;End of year | $930981 | $543113 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 15725 | 23325 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (7500) | (2450) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 8225 | 20875 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Fund commenced operations on October 8, 2024.

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

38 SEI Exchange Traded Funds

**STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)**

For the year ended March 31,

---

| | | |
|:---|:---|:---|
|  | **SEI Select Small Cap ETF** | **SEI Select Small Cap ETF** |
|  | **4/1/2025 to 3/31/2026** | **10/8/2024 to 3/31/2025** **<sup>(1)</sup>** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | $1442 | $1050 |
| &nbsp;&nbsp;&nbsp;Net realized loss | (9237) | (5622) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 48922 | (13892) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 41127 | (18464) |
| **Distributions:** | (1814) | (516) |
| **Capital share transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from shares issued | 211040 | 266529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of shares redeemed | (33126) | (29691) |
| &nbsp;&nbsp;&nbsp;Net increase in net assets derived from capital share transactions | 177914 | 236838 |
| &nbsp;&nbsp;&nbsp;**Net increase in net assets** | 217227 | 217858 |
| **Net assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 217858 |  |
| &nbsp;&nbsp;&nbsp;End of year | $435085 | $217858 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Shares issued | 7800 | 10325 |
| &nbsp;&nbsp;&nbsp;Shares redeemed | (1225) | (1150) |
| &nbsp;&nbsp;&nbsp;Increase (decrease) in net assets derived from share transactions | 6575 | 9175 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Fund commenced operations on October 8, 2024.

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Exchange Traded Funds 39

**FINANCIAL HIGHLIGHTS**

For the year or period ended March 31, 2026

For a Share Outstanding Throughout Each Year/Period

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Net asset<br> value,<br> beginning of<br> year or period | Net<br> investment<br> income<sup>(1)</sup> | Net realized and<br> unrealized gains<br> (losses) | Total from<br> operations | Distributions from<br> net investment<br> income | Distributions<br> from realized<br> gains | Total dividends<br> and<br> distributions | Net asset value,<br> end of year or<br> period | Total<br> Return† | Net assets,<br> end of year<br> ($ Thousands) | Ratio of<br> net expenses<br> to average<br> net assets | Ratio of<br> expenses<br> to average<br> net assets<br> (excluding<br> waivers) | Ratio of net<br> investment<br> income to<br> average net<br> assets | Portfolio<br> turnover† |
| SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> | SEI DBi Multi-Strategy Alternative ETF<sup>(2)</sup> |  |  |  |  |  |  |
| 2026 | $25.37 | $0.33 | $0.92 | $1.25 | $(0.66) | $(0.62) | $(1.28) | $25.34 | 5.05% | $184858 | 0.80% | N/A | 2.56% | –% |
| 2025 | 25.98 | 0.67 | 0.13 | 0.80 | (0.82) | (0.59) | (1.41) | 25.37 | 3.19 | 188904 | 1.16<sup>(3)</sup> | 1.22 | 2.71 |  |
| 2024^ | 24.85 | 0.96 | 0.83 | 1.79 | (0.44) | (0.22) | (0.66) | 25.98 | 7.39 | 183858 | 1.04 | 1.10 | 3.72 |  |
| 2023^<sup>(4)</sup> | 24.46 | 0.37 | 0.02 | 0.39 |  |  |  | 24.85 | 1.60 | 531 | 1.04 | 4.16 | 5.70 |  |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF | SEI Enhanced Low Volatility U.S. Large Cap ETF |  |  |  |  |  |  |  |  |
| 2026 | $30.68 | $0.60 | $1.64 | $2.24 | $(0.56) | $– | $(0.56) | $32.36 | 7.38% | $227341 | 0.15% | N/A | 1.88% | 23% |
| 2025 | 27.76 | 0.56 | 2.87 | 3.43 | (0.51) |  | (0.51) | 30.68 | 12.53 | 145715 | 0.15 | N/A | 1.95 | 16 |
| 2024 | 25.21 | 0.54 | 2.54 | 3.08 | (0.53) |  | (0.53) | 27.76 | 12.47 | 128408 | 0.15 | N/A | 2.04 | 13 |
| 2023<sup>(5)</sup> | 24.79 | 0.48 | 0.25 | 0.73 | (0.31) |  | (0.31) | 25.21 | 3.02 | 11977 | 0.15 | N/A | 2.24 | 24 |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF | SEI Enhanced U.S. Large Cap Momentum Factor ETF |  |  |  |  |  |  |  |  |
| 2026 | $36.09 | $0.30 | $9.41 | $9.71 | $(0.26) | $– | $(0.26) | $45.54 | 26.97% | $1169122 | 0.15% | N/A | 0.69% | 81% |
| 2025 | 32.11 | 0.22 | 3.94 | 4.16 | (0.18) |  | (0.18) | 36.09 | 12.97 | 516041 | 0.15 | N/A | 0.62 | 78 |
| 2024 | 25.51 | 0.21 | 6.64 | 6.85 | (0.25) |  | (0.25) | 32.11 | 27.08 | 462385 | 0.15 | N/A | 0.70 | 40 |
| 2023<sup>(5)</sup> | 26.35 | 0.33 | (0.92) | (0.59) | (0.25) |  | (0.25) | 25.51 | 2.74 | 21047 | 0.15 | N/A | 1.52 | 63 |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF | SEI Enhanced U.S. Large Cap Quality Factor ETF |  |  |  |  |  |  |  |  |
| 2026 | $34.90 | $0.40 | $1.49 | $1.89 | $(0.36) | $– | $(0.36) | $36.43 | 5.41% | $555562 | 0.15% | N/A | 1.06% | 34% |
| 2025 | 32.15 | 0.37 | 2.72 | 3.09 | (0.34) |  | (0.34) | 34.90 | 9.65 | 279166 | 0.15 | N/A | 1.10 | 40 |
| 2024 | 27.19 | 0.44 | 4.85 | 5.29 | (0.33) |  | (0.33) | 32.15 | 19.60 | 225819 | 0.15 | N/A | 1.44 | 23 |
| 2023<sup>(5)</sup> | 24.91 | 0.30 | 2.19 | 2.49 | (0.21) |  | (0.21) | 27.19 | 10.08 | 13593 | 0.15 | N/A | 1.35 | 40 |
| SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF | SEI Enhanced U.S. Large Cap Value Factor ETF |  |  |  |  |  |  |  |  |
| 2026 | $32.48 | $0.70 | $8.92 | $9.62 | $(0.63) | $– | $(0.63) | $41.47 | 29.88% | $1172541 | 0.15% | N/A | 1.81% | 44% |
| 2025 | 30.98 | 0.61 | 1.44 | 2.05 | (0.55) |  | (0.55) | 32.48 | 6.65 | 526127 | 0.15 | N/A | 1.90 | 60 |
| 2024 | 24.17 | 0.69 | 6.70 | 7.39 | (0.58) |  | (0.58) | 30.98 | 31.11 | 467011 | 0.15 | N/A | 2.44 | 32 |
| 2023<sup>(5)</sup> | 24.95 | 0.58 | (0.97) | (0.39) | (0.39) |  | (0.39) | 24.17 | (1.52) | 20544 | 0.15 | N/A | 2.74 | 43 |
| SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF | SEI Select Emerging Markets Equity ETF |  |  |  |  |  |  |  |  |
| 2026 | $24.39 | $0.63 | $7.59 | $8.22 | $(1.03) | $– | $(1.03) | $31.58 | 34.16% | $457120 | 0.60% | N/A | 2.11% | 90% |
| 2025<sup>(6)</sup> | 25.00 | 0.24 | (0.78) | (0.54) | (0.07) |  | (0.07) | 24.39 | (2.14) | 206065 | 0.60 | N/A | 2.07 | 34 |
| SEI Select International Equity ETF | SEI Select International Equity ETF | SEI Select International Equity ETF | SEI Select International Equity ETF | SEI Select International Equity ETF | SEI Select International Equity ETF | SEI Select International Equity ETF |  |  |  |  |  |  |  |  |
| 2026 | $26.02 | $0.77 | $5.95 | $6.72 | $(0.75) | $– | $(0.75) | $31.99 | 26.14% | $930981 | 0.50% | N/A | 2.49% | 70% |
| 2025<sup>(6)</sup> | 25.00 | 0.21 | 0.85 | 1.06 | (0.04) |  | (0.04) | 26.02 | 4.25 | 543113 | 0.50 | N/A | 1.77 | 31 |
| SEI Select Small Cap ETF | SEI Select Small Cap ETF | SEI Select Small Cap ETF | SEI Select Small Cap ETF | SEI Select Small Cap ETF | SEI Select Small Cap ETF | SEI Select Small Cap ETF |  |  |  |  |  |  |  |  |
| 2026 | $23.74 | $0.12 | $3.92 | $4.04 | $(0.16) | $– | $(0.16) | $27.62 | 17.10% | $435085 | 0.55% | N/A | 0.44% | 98% |
| 2025<sup>(6)</sup> | 25.30 | 0.13 | (1.63) | (1.50) | (0.06) |  | (0.06) | 23.74 | (5.96) | 217858 | 0.55 | N/A | 1.07 | 24 |

---

---

| | |
|:---|:---|
| <sup>^</sup> | Per share amounts have been adjusted for the reorganization of the SIMT Liquid Alternative Fund into the SEI DBI Multi-Strategy ETF (the "Fund") via issuance of 0.4088 shares of the Fund in exchange for every Class F share of the SIMT Liquid Alternative Fund. Prior to the Reorganization, the share classes of the SIMT Liquid Alternative Fund were consolidated into a single class of shares (see Note 8 in the Notes to Financial Statements) |

---

<sup>†</sup> Returns and portfolio turnover rate are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.

<sup>(1)</sup> Per share calculated using average shares.

<sup>(2)</sup> Effective as of close of business on August 22, 2025, the SIMT Liquid Alternative Fund was reorganized into the Fund. Information presented prior to close of business August 22, 2025 is that of the SIMT Liquid Alternative Fund. See Note 1 and Note 8 in the Notes to Financial Statements. Information for 2025 is for the year ended September 30, 2025. Information for 2026 is for the six month period ended March 31, 2026. All ratios for the period have been annualized.

<sup>(3)</sup> The expense ratio includes a proxy fee expense and reorganization expenses. Had these expenses been excluded the ratio would have been 1.01%

<sup>(4)</sup> Commenced operations on June 30, 2023. All ratios for the period have been annualized.

<sup>(5)</sup> Commenced operations on May 18, 2022. All ratios for the period have been annualized.

<sup>(6)</sup> Commenced operations on October 8, 2024. All ratios for the period have been annualized.

N/A Not Applicable

Amounts designated as "—" are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

40 SEI Exchange Traded Funds

**NOTES TO FINANCIAL STATEMENTS**

March 31, 2026

1. ORGANIZATION

SEI Exchange Traded Funds (the "Trust") was organized as a Delaware statutory trust under a Declaration of Trust dated October 7, 2021.

The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end investment company with eight funds: SEI DBi Multi-Strategy Alternative ETF, SEI Enhanced Low Volatility U.S. Large Cap ETF, SEI Enhanced U.S. Large Cap Momentum Factor ETF, SEI Enhanced U.S. Large Cap Quality Factor ETF, SEI Enhanced U.S. Large Cap Value Factor ETF, SEI Select Emerging Markets Equity ETF, SEI Select International Equity ETF, and SEI Select Small Cap ETF (each a "Fund" and together the "Funds") each of which are diversified Funds. Each Fund's prospectus provides a description of its investment goal, principal investment strategies and risks. The SEI Enhanced U.S. Large Cap Quality Factor ETF, SEI Enhanced U.S. Large Cap Momentum Factor ETF, SEI Enhanced U.S. Large Cap Value Factor ETF, SEI Enhanced Low Volatility U.S. Large Cap ETF commenced operations on May 18, 2022. The SEI Select Emerging Markets Equity ETF, SEI Select International Equity ETF and SEI Select Small Cap ETF commenced operations on October 8, 2024. The Board of Trustees of SEI Institutional Managed Trust (SIMT) (the "Target Entity") approved, on behalf of the SIMT Liquid Alternative Fund (the "Acquired Fund"), an Agreement and Plan of Reorganization (the "Reorganization") dated August 21, 2025, with SEI Exchange Traded Funds (the "Acquiring Entity"), specifically its newly created series, the SEI DBi Multi-Strategy Alternative ETF (the "Acquiring Fund"). The Reorganization involved the transfer of all assets and liabilities of the Acquired Fund to the Acquiring Fund in exchange for shares of the Acquiring Fund. These shares were then distributed to shareholders of the Acquired Fund, resulting in the complete liquidation and dissolution of the Acquired Fund. The Acquiring Fund is a shell series created solely for this purpose and had no prior assets or liabilities other than seed capital. Prior to the closing date of August 22, 2025, the Acquired Fund consolidated its share classes into a single class and redeemed all fractional shares (see Note 8, Reorganization). This ensured that each shareholder held a single class of shares with an aggregate value equal to their previous holdings. Upon the closing, shareholders of the Acquired Fund received Acquiring Fund Shares on a pro rata basis, with ownership recorded electronically by the Acquiring Fund's transfer agent. No physical share certificates were issued, and fractional shares were not distributed. The Acquiring Fund assumed the performance history, financial records, and tax attributes of the Acquired Fund, including earnings and profits and capital loss carryovers. Additionally, the Acquired Fund

provided all necessary shareholder documentation, tax records, and compliance certifications to the Acquiring Fund to ensure continuity and regulatory compliance. The assets of each Fund are segregated, and an Authorized Participant's interest is limited to the Fund in which shares are held.

On September 16, 2025, the Board approved a change to SEI DBi Multi-Strategy Alternative ETF's fiscal year end, from September 30 to March 31. The change was implemented to align the fiscal year of SEI DBi Multi-Strategy Alternative ETF with the fiscal year end of the other affiliated funds of the Trust advised by the Adviser.

As a result of this change, the accompanying financial statements reflect the six-month period from October 1, 2025 through March 31, 2026, which represents a transition period associated with the change in fiscal year-end.

2. SIGNIFICANT ACCOUNTING POLICIES

The following are significant accounting policies, which are consistently followed in the preparation of its financial statements by the Funds. The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB").

**Use of Estimates** — The Funds are investment companies in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Therefore, the Funds follow the accounting and reporting guidelines for investment companies. The preparation of financial statements, in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Security Valuation** — Pursuant to the requirements of the 1940 Act and Rule 2a-5, the administrator, as delegated by the Board of Trustees (the "Board"), has the responsibility for the valuation of Fund investments with readily available market quotations in accordance with the Funds' Valuation and Pricing Policy. The Trust's Board of Trustees has designated SEI Investments Management Corporation ("SIMC") as the Valuation Designee for the Funds pursuant to Rule 2a-5 (the "Rule") under the 1940 Act. The Valuation Designee has the responsibility for the fair value determination with respect to all Fund investments that do not have readily available market quotations or quotations that are no longer reliable. SIMC has appointed a Valuation Committee (the "Committee") and has established a Valuation and Pricing Policy to implement the Rule and the Funds' Valuation and Pricing Policy (together the "Policy"). Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (other than securities traded on National Association of Securities Dealers Automated Quotations (NASDAQ) or as otherwise noted below) at the last quoted sale price on an exchange or market (foreign or domestic) on which the securities are traded or, if there is no such reported sale, at the most recent quoted bid price. A Fund values securities traded on NASDAQ at the NASDAQ Official Closing Price. Redeemable securities issued by open-end investment companies are valued at the investment company's applicable Net Asset Value ("NAV") per share, with the exception of ETFs, which are priced as equity securities. These open-end investment companies' shares are offered in separate prospectuses, each of which describes the process by which the applicable investment company's NAV is determined. The prices of foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. If a security's price cannot be obtained, as noted above, a Fund will value the securities using a bid price from at least one independent broker.

SEI Exchange Traded Funds 41

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

Prices for most securities held by a Fund are provided daily by third-party independent pricing agents. SIMC reasonably believes that prices provided by independent pricing agents are reliable. However, there can be no assurance that such pricing service's prices will be reliable. SIMC will continuously monitor the reliability of prices obtained from any pricing service and shall promptly notify the Funds' administrator if it believes that a particular pricing service is no longer a reliable source of prices. The Funds' administrator, in turn, will notify SIMC, as Valuation Designee, if the Funds' administrator reasonably believes that a particular pricing service is no longer a reliable source for prices.

The Policy provides that any change in a primary pricing agent or a pricing methodology requires prior approval by the Board. However, when the change would not materially affect the valuation of a Fund's net assets or involve a material departure in pricing methodology from that of a Fund's existing pricing agent or pricing methodology, ratification may be obtained at the next regularly scheduled meeting of the Board.

Securities for which market prices are not "readily available" are valued in accordance with Rule 2a-5 and the Policy.

The Committee must monitor for circumstances that may necessitate that a security be valued using Fair Value Procedures which can include: (i) the security's trading

has been halted or suspended, (ii) the security has been de-listed from a national exchange, (iii) the security's primary trading market is temporarily closed at a time when under normal conditions it would be open, (iv) the security has not been traded for an extended period of time, (v) the security's primary pricing source is not able or willing to provide a price, (vi) trading of the security is subject to local government-imposed restrictions; or (vii) a significant event (as defined below). When a security is valued in accordance with the Procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee. Examples of factors the Committee may consider include: (i) the type of security or asset, (ii) the last trade price, (iii) evaluation of the forces that influence the market in which the security is purchased and sold, (iv) the liquidity of the security, (v) the size of the holding in a Fund or (vi) any other appropriate information.

The Committee is responsible for selecting and applying, in a consistent manner, the appropriate methodologies for determining and calculating the fair value of holdings of the Funds, including specifying the key inputs and assumptions specific to each asset class or holding.

The determination of a security's fair value price often involves the consideration of a number of subjective factors, and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security's value would be if a reliable market quotation for the security was readily available. As of March 31, 2026, there were no fair valued securities held by the Funds.

In accordance with U.S. GAAP, fair value is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three tier hierarchy has been established to maximize the use of observable and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad Levels listed below:

42 SEI Exchange Traded Funds

Level 1 — quoted prices in active markets for identical investments

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risks, etc.)

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

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

The valuation techniques used by the Funds to measure fair value during the year or period ended March 31, 2026 maximized the use of observable inputs and minimized the use of unobservable inputs.

For the year or period ended March 31, 2026, there have been no significant changes to the inputs or the Trust's fair valuation methodologies.

**Security Transactions and Investment Income** — Security transactions are recorded on the trade date. Cost used in determining net realized capital gains and losses on the sale of securities is determined on the basis of specific identification. Dividend income and expense is recognized on the ex-dividend date, and interest income or expense is recognized using the accrual basis of accounting.

Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/ or as a realized gain. The Trust estimates the components of distributions received that may be considered nontaxable distributions or capital gain distributions.

Amortization and accretion is calculated using the scientific interest method, which is not materially different from the effective interest method. Amortization of premiums and discounts is included in interest income.

**Cash and Cash Equivalents** — Idle cash and currency balances may be swept into various overnight sweep accounts and are classified as cash and cash equivalents on the Statement of Assets and Liabilities. These amounts, at times, may exceed United States federally insured limits. Amounts swept are available on the next business day.

**Expenses** — Expenses that are directly related to one of the Funds are charged directly to that Fund. Other

operating expenses of the Trust are prorated to the Funds on the basis of relative daily net assets.

**Foreign Currency Translation** — The books and records of the Funds investing in international securities are maintained in U.S. dollars on the following basis:

(i) market value of investment securities, assets and liabilities at the current rate of exchange; and

(ii) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of gains and losses on investments in investment securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of investment securities.

The Funds report certain foreign-currency-related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for Federal income tax purposes.

**Futures Contracts** — To the extent consistent with its Investment Objective and Strategies, the SEI DBi Multi-Strategy Alternative ETF may use futures contracts for tactical hedging purposes as well as to enhance the Fund's returns. Initial margin deposits of cash or securities are made upon entering into futures contracts. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, the futures contract involves the risk that the Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to each Fund's Schedule of Investments for details regarding open futures contracts as of March 31, 2026, if applicable.

**Dividends and Distributions to Shareholders** — The Funds will distribute substantially all of their net investment income quarterly and all net realized capital gains, if any, at least annually. All dividends and distributions are recorded on ex-dividend date.

SEI Exchange Traded Funds 43

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

**Investments in Real Estate Investment Trusts ("REITs")** — Dividend income is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications including management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

**Creation Units** — The Funds issue and redeem their shares ("Shares") on a continuous basis at NAV and only in large blocks of Shares referred to as "Creation Units". Purchasers of Creation Units ("Authorized Participants") at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day.

3. INVESTMENT ADVISORY, ADMINISTRATION AND DISTRIBUTION AGREEMENTS, AND OTHER TRANSACTIONS WITH AFFILIATES

**Investment Advisory, Administration and Distribution Agreements** — SIMC serves as investment adviser (the

"Adviser") to each Fund. In connection with serving as Adviser, SIMC is entitled to a fee, which is calculated daily and paid monthly, based on the average daily net assets of each fund. Pursuant to the Investment Advisory Agreement entered into with the Trust, SIMC has agreed to pay all Fund expenses, except for the fees paid to SIMC for advisory services, interest expenses, dividend and other expenses on securities sold short, taxes, expenses incurred with respect to the acquisition and disposition of portfolio securities and the execution of portfolio transactions (including brokerage commissions), acquired fund fees and expenses, distribution fees or expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act (if any), fees and expenses of the Board of Trustees, litigation expenses and any extraordinary expenses.

SEI Investments Global Funds Services (the "Administrator") is the administrator for the Funds.

SEI Investments Distribution Co. (the "Distributor") is the distributor of creation units. The Funds have adopted a Distribution and Servicing Plan (the Plan). The Plan permits each Fund to pay the Distributor, or its designee, a fee for the sale and distribution and/or shareholder servicing of the shares at an annual rate of up to 0.25% of average daily net assets of the shares of the Fund ("12b-1 fee"). However, payment of a 12b-1 fee has not been authorized at this time.

The following table reflects each Fund's contractual Advisory Fee (expressed as an annual rate). The rates shown are fixed rates based on each Fund's daily net assets.

---

| | |
|:---|:---|
| | Advisory Fee |
| **SEI DBi Multi-Strategy Alternative ETF** | 0.800% |
| **SEI Enhanced Low Volatility U.S. Large Cap ETF** | 0.150% |
| **SEI Enhanced U.S. Large Cap Momentum Factor ETF** | 0.150% |
| **SEI Enhanced U.S. Large Cap Quality Factor ETF** | 0.150% |
| **SEI Enhanced U.S. Large Cap Value Factor ETF** | 0.150% |
| **SEI Select Emerging Markets Equity ETF** | 0.600% |
| **SEI Select International Equity ETF** | 0.500% |
| **SEI Select Small Cap ETF** | 0.550% |

---

For the period October 1, 2024, through August 22, 2025, during which the SEI DBi Multi-Strategy Alternative ETF operated as a mutual fund, SIMC was entitled to a fee of 0.50% which was calculated daily and paid monthly based on the average daily net assets of the Fund. SEI Investments Global Funds Services provided administrative and transfer agency services for an annual fee based on average daily net assets. SEI Investments Distribution Co. served as the distributor of the Fund's shares. The Fund had adopted a Shareholder Services Plan applicable to Class F Shares, allowing for service fees based on average daily net assets of 0.25%. These fees were paid to the Distributor, which

could use them to compensate financial intermediaries for shareholder services. The Adviser, Administrator, and/or Distributor voluntarily agreed to waive a portion of their fees to maintain total direct operating expenses (excluding certain items such as interest from borrowings, taxes, brokerage commissions, Trustee fees, proxy fees, prime brokerage fees, interest and dividend expenses related to short sales and extraordinary expenses, not to include reorganization expenses) at a specified level. These waivers were voluntary and could be discontinued at any time.

44 SEI Exchange Traded Funds

The following is a summary of annual fees payable to the Administrator:

---

| | | | | |
|:---|:---|:---|:---|:---|
| First<br> $1.5 Billion | Next<br> $500 Million | Next <br> $500 Million | Next<br> $500 Million | Over<br> $3 Billion |
| 0.300% | 0.2550% | 0.2100% | 0.1650% | 0.120% |

---

Following the Acquired Fund's reorganization to an exchange-traded fund ("ETF"), the Adviser is entitled to a contractual Advisory Fee (expressed as an annual rate) of 0.80% which is calculated daily and paid monthly based on average daily net assets. Under the ETF structure, SIMC has agreed to pay all Fund expenses, except for the fees paid to SIMC for advisory services, interest expenses, dividend and other expenses on securities sold short, taxes, expenses incurred with respect to the acquisition and disposition of portfolio securities and the execution of portfolio transactions (including brokerage commissions), acquired fund fees and expenses, distribution fees or expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act (if any), fees and expenses of the Board of Trustees, litigation expenses and any extraordinary expenses.

As of March 31, 2026, SIMC has entered into investment sub-advisory agreements with the following unaffiliated parties:

Investment Sub-Adviser

**SEI DBi Multi-Strategy Alternative ETF**

Dynamic Beta Investments, LLC

**SEI Select Emerging Markets Equity ETF**

Aikya Investment Management Ltd.

Robeco Institutional Asset Management US Inc.

**SEI Select International Equity ETF**

Brown Advisory LLC

Pzena Investment Management LLC

**SEI Select Small Cap ETF**

Easterly Investment Partners LLC

Geneva Capital Management LLC

**Brokerage Commissions Paid to Affiliates** — The Distributor may receive compensation on fund

transactions effected for the Trust in accordance with the rules of the Securities and Exchange Commission ("SEC"). Accordingly, it is expected that fund transactions may result in brokerage commissions being paid to the Distributor. The SEC rules require that such commissions not exceed usual and customary commissions.

There were no such commissions for the year or period ended March 31, 2026.

**Payment to Affiliates** — Certain Officers and Trustees of the Trust are also Officers and/or Directors of the Administrator, Adviser and/or the Distributor.

The Trust pays each unaffiliated Trustee an annual fee for attendance at quarterly, interim, and committee meetings. The Administrator or the Distributor pays compensation of Officers and affiliated Trustees.

A portion of the services provided by the Chief Compliance Officer ("CCO") and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust's Adviser, sub-advisers and service providers.

**Interfund Lending** — The SEC has granted an exemption that permits the Trust to participate in an interfund lending program ("the Program") with existing or future investment companies registered under the 1940 Act that are advised by SIMC (the "SEI Funds"). The Program allows the SEI Funds to lend money to and borrow money from each other for temporary or emergency purposes. Participation in the Program is voluntary for both borrowing and lending funds. Interfund loans may be made only when the rate of interest to be charged is more favorable to the lending fund than an investment in overnight repurchase agreements ("Repo Rate"), and more favorable to the borrowing fund than the rate of interest that would be charged by a bank for short-term borrowings ("Bank Loan Rate"). The Bank Loan Rate will be determined using a formula reviewed annually by the SEI Funds' Board of Trustees. The interest rate imposed on interfund loans is the average of the Repo Rate and the Bank Loan Rate.

As of, and during the year or period ended March 31, 2026, the Trust had not participated in the Program.

4. INVESTMENT TRANSACTIONS

The cost of security purchases and the proceeds from the sale of securities, excluding in-kind transactions and short-term securities during the year ended March 31, 2026, were as follows:

SEI Exchange Traded Funds 45

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **SEI Enhanced U.S. Large Cap Quality**<br> **Factor ETF**<br> ($ Thousands) | **SEI Enhanced**<br> **U.S. Large Cap Momentum Factor**<br> **ETF**<br> ($ Thousands) | **SEI Enhanced U.S. Large Cap Value**<br> **Factor ETF**<br> ($ Thousands) | **SEI Enhanced Low Volatility U.S. Large Cap ETF**<br> ($ Thousands) |
| **Purchases** | **Purchases** | **Purchases** | **Purchases** | **Purchases** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 170594 | 697302 | 376873 | 42439 |
| **Sales** | **Sales** | **Sales** | **Sales** | **Sales** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 143127 | 694239 | 375474 | 43355 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **SEI Select Emerging Markets**<br> **Equity ETF**<br> ($ Thousands) | **SEI Select International Equity ETF**<br> ($ Thousands) | **SEI Select Small**<br> **Cap ETF**<br> ($ Thousands) |
| **Purchases** | **Purchases** | **Purchases** | **Purchases** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 487675 | 521005 | 321935 |
| **Sales** | **Sales** | **Sales** | **Sales** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 284074 | 515898 | 322495 |

---

For the year or period ended March 31, 2026, in-kind transactions associated with creations and redemptions were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases<br> ($ Thousands)** | **Sales<br> ($ Thousands)** | **Realized Gain<br> ($ Thousands)** |
| **SEI Enhanced Low Volatility U.S. Large Cap ETF** | $117958 | $44480 | $11153 |
| **SEI Enhanced U.S. Large Cap Momentum Factor ETF** | 905805 | 412911 | 130212 |
| **SEI Enhanced U.S. Large Cap Quality Factor ETF** | 330415 | 85164 | 28083 |
| **SEI Enhanced U.S. Large Cap Value Factor ETF** | 730880 | 272718 | 81009 |
| **SEI Select Emerging Markets Equity ETF** | 14258 | 36477 | 7677 |
| **SEI Select International Equity ETF ETF** | 476934 | 224256 | 56243 |
| **SEI Select Small Cap ETF** | 210380 | 32222 | 7939 |

---

For the six month period ended March 31, 2026, the SEI DBi Multi-Strategy Alternative ETF did not purchase or sell any investment securities or engage in any in-kind transactions with creations and redemptions.

5. DERIVATIVE TRANSACTIONS:

The following tables show the derivatives categorized by underlying risk exposure.

The fair value of derivative instruments as of March 31, 2026, was as follows ($ Thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Asset Derivatives | | Liability Derivatives | |
| | Statement of Assets and Liabilities | Fair Value | Statement of Assets and Liabilities | Fair Value |
| Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: |
| **SEI DBi Multi-Strategy Alternative ETF** | **SEI DBi Multi-Strategy Alternative ETF** | **SEI DBi Multi-Strategy Alternative ETF** | **SEI DBi Multi-Strategy Alternative ETF** | **SEI DBi Multi-Strategy Alternative ETF** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | Unrealized appreciation on futures contracts | $214 \* | Unrealized depreciation on futures contracts | $21 \* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity contracts | Unrealized appreciation on futures contracts | 1047 \* | Unrealized depreciation on futures contracts | 679 \* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange contracts | Unrealized appreciation on futures contracts | 143 \* | Unrealized depreciation on futures contracts | 861 \* |
| Total Derivatives not accounted for as hedging instruments |  | $1404 |  | $1561 |

---

\* Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

The effect of derivative instruments on the Statement of Operations for the year or period ended March 31, 2026.

46 SEI Exchange Traded Funds

Amount of realized gain (loss) on derivatives recognized in income ($ Thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Derivatives Not Accounted for as Hedging Instruments | Purchased <br>Options and Swaptions | Written Options and Swaptions | Futures | Forward <br>Currency Contracts | Swaps | Total |
| **SEI DBi Multi-Strategy Alternative ETF**  |  |  |  |  |  |  |
| Interest rate contracts | $— | $— | $(2400) | $— | $— | $(2400) |
| Foreign exchange contracts |  |  | 3564 |  |  | 3564 |
| Equity contracts |  |  | 6813 |  |  | 6813 |
| Total | $— | $— | $7977 | $— | $— | $7977 |

---

Change in unrealized appreciation (depreciation) on derivatives reorganized in income ($ Thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Derivatives Not Accounted for as Hedging Instruments | Purchased Options and <br>Swaptions | Written Options and Swaptions | Futures | Forward Currency <br>Contracts | Swaps | Total |
| **SEI DBi Multi-Strategy Alternative ETF** |  |  |  |  |  |  |
| Interest rate contracts | $— | $— | $791 | $— | $— | $791 |
| Foreign exchange contracts |  |  | (983) |  |  | (983) |
| Equity contracts |  |  | (1115) |  |  | (1115) |
| Total | $— | $— | $(1307) | $— | $– | $(1307) |

---

The effect of derivative instruments on the Statement of Operations for the year ended September 30, 2025.

Amount of realized gain (loss) on derivatives recognized in income ($ Thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Derivatives Not Accounted for as Hedging Instruments | Purchased <br>Options and Swaptions | Written Options and Swaptions | Futures | Forward <br>Currency Contracts | Swaps | Total |
| **SEI DBi Multi-Strategy Alternative ETF** |  |  |  |  |  |  |
| Interest rate contracts |  |  | (5025) |  |  | (5025) |
| Foreign exchange contracts |  |  | (1460) |  |  | (1460) |
| Equity contracts |  |  | 8754 |  |  | 8754 |
| Total | $— | $— | $2269 | $— | $— | $2269 |

---

Change in unrealized appreciation (depreciation) on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; derivatives reorganized in income ($ Thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Derivatives Not Accounted for as Hedging Instruments | Purchased <br>Options and Swaptions | Written Options and Swaptions | Futures | Forward <br>Currency Contracts | Swaps | Total |
| **SEI DBi Multi-Strategy Alternative ETF** |  |  |  |  |  |  |
| Interest rate contracts | $— | $— | $(207) | $— | $— | $(207) |
| Foreign exchange contracts |  |  | 333 |  |  | 333 |
| Equity contracts |  |  | (1919) |  |  | (1919) |
| Total | $— | $— | $(1793) | $— | $– | $(1793) |

---

The following table discloses the average quarterly balances of derivative activity during the year or period ended March 31, 2026 ($ Thousands):

---

| | |
|:---|:---|
|  | **SEI DBi Multi-Strategy**<br> **Alternative ETF** |
| **Futures Contracts:** | |
| &nbsp;&nbsp;&nbsp;Average Notional Balance Long | $252102 |
| &nbsp;&nbsp;&nbsp;Average Notional Balance Short | 119512 |

---

6. FEDERAL TAX INFORMATION:

It is each Fund's intention to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute all of its taxable income

(including net capital gains). Accordingly, no provision for Federal income taxes is required.

Management has analyzed the Funds' tax positions taken on federal income tax returns for all open tax years (current and prior three tax years) and has concluded that as of March 31, 2026, no provision for income tax is required in the Funds' financial statements. The Funds' federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

SEI Exchange Traded Funds 47

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

The Funds may be subject to taxes imposed by countries in which they invest with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Funds accrue such taxes when the related income is earned.

Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations, which may differ from those amounts determined

under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital and distributable earnings/(accumulated losses), as appropriate, in the period that the differences arise. The permanent differences are primarily attributable to nontaxable in-kind redemptions, certain foreign currency related transactions, basis adjustments for gains and losses on passive foreign investment companies, and reclassification of long-term capital gain distributions on REIT securities.

---

| | | |
|:---|:---|:---|
| | Paid-in- <br>Capital ($ Thousands) | Accumulated <br>Realized Gain/(Loss) <br>($ Thousands) |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | 11150 | (11150) |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 130193 | (130193) |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | 28013 | (28013) |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 80918 | (80918) |
| SEI Select Emerging Markets Equity ETF | 7156 | (7156) |
| SEI Select International Equity ETF | 56027 | (56027) |
| SEI Select Small Cap ETF | 7889 | (7889) |

---

The tax character of dividends and distributions paid during the fiscal years ended March 31, 2026 and March 31, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Ordinary Income <br>($ Thousands) | Long-Term Capital Gain <br>($ Thousands) | Total ($ Thousands) |
| SEI DBi Multi-Strategy Alternative ETF |  |  |  |
| 2026 | $6584 | $2693 | $9277 |
| 2025 | 8392 | 2748 | 11140 |
| 2024<sup>†</sup> | 311 | 80 | 391 |
| SEI Enhanced Low Volatility U.S. Large Cap ETF |  |  |  |
| 2026 | 3014 |  | 3014 |
| 2025 | 2359 |  | 2359 |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF |  |  |  |
| 2026 | 4694 |  | 4694 |
| 2025 | 2603 |  | 2603 |
| SEI Enhanced U.S. Large Cap Quality Factor ETF |  |  |  |
| 2026 | 3843 |  | 3843 |
| 2025 | 2474 |  | 2474 |
| SEI Enhanced U.S. Large Cap Value Factor ETF |  |  |  |
| 2026 | 13011 |  | 13011 |
| 2025 | 8298 |  | 8298 |
| SEI Select Emerging Markets Equity ETF |  |  |  |
| 2026 | 10816 |  | 10816 |
| 2025 | 612 |  | 612 |
| SEI Select International Equity ETF |  |  |  |
| 2026 | 16705 |  | 16705 |
| 2025 | 844 |  | 844 |
| SEI Select Small Cap ETF |  |  |  |
| 2026 | 1814 |  | 1814 |
| 2025 | 516 |  | 516 |

---

<sup>†</sup> Presented due to Fund reorganization. See Note 1 in Notes to Financial Statements.

48 SEI Exchange Traded Funds

As of March 31, 2026, the components of Distributable Earnings/(Accumulated Losses) were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Undistributed<br> Ordinary Income<br> ($ Thousands)  | Undistributed Long-Term Capital Gain<br> ($ Thousands) | Capital Loss Carryforwards<br> ($ Thousands) | Post October Losses<br> ($ Thousands) | Late Year Ordinary Losses<br> ($ Thousands)  | Unrealized Appreciation (Depreciation)<br> ($ Thousands) | Other Temporary Differences<br> ($ Thousands) | Total Distributable<br>Earnings (Accumulated<br>Losses)<br>($ Thousands) |
| SEI DBi Multi-Strategy Alternative ETF | $2157 | $1593 | $— | $– $|  | $— | $1 | $3751 |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | 1009 |  | (5160) | – |  | 18770 |  | 14619 |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 2179 |  | (72905) | – |  | 110758 |  | 40032 |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | 1440 |  | (12478) | – |  | 1988 | (1) | (9051) |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 5032 |  | (37463) | – |  | 149358 |  | 116927 |
| SEI Select Emerging Markets Equity ETF | 3384 | 2523 |  | – |  | 48089 |  | 53996 |
| SEI Select International Equity ETF | 4802 |  | (11770) | – |  | 100546 | 3 | 93581 |
| SEI Select Small Cap ETF | 177 |  | (24591) | – |  | 33001 |  | 8587 |

---

For Federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains. Losses carried forward are as follows:

---

| | | | |
|:---|:---|:---|:---|
| | Short-Term | Long-Term | Total<br> Capital Loss Carryforwards<br> ($ Thousands) |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | $2873 | $2287 | $5160 |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 72905 |  | 72905 |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | 11781 | 697 | 12478 |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 29361 | 8102 | 37463 |
| SEI Select International Equity ETF | 11770 |  | 11770 |
| SEI Select Small Cap ETF | 24591 |  | 24591 |

---

During the year ended March 31, 2026, the SEI Select Emerging Markets Equity ETF utilized $2,323 ($Thousands) in short-term capital loss carryforwards to offset capital gain.

For Federal income tax purposes, the cost of securities owned at March 31, 2026, and the net realized gains or losses on securities sold for the period were different from amounts reported for financial reporting purposes. These differences are primarily due to wash sales which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years. The aggregate gross unrealized appreciation and depreciation on total investments held by the Funds at March 31, 2026, was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Federal Tax Cost <br>($ Thousands) | Appreciated Securities <br>($ Thousands) | Depreciated Securities <br>($ Thousands) | Net Unrealized Appreciation/ (Depreciation) <br> ($ Thousands) |
| SEI DBi Multi-Strategy Alternative ETF | $— | $— | $— | $— |
| SEI Enhanced Low Volatility U.S. Large Cap ETF | 207193 | 31512 | (12742) | 18770 |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 1049337 | 153735 | (42977) | 110758 |
| SEI Enhanced U.S. Large Cap Quality Factor ETF | 551331 | 40349 | (38361) | 1988 |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 1014424 | 186853 | (37495) | 149358 |
| SEI Select Emerging Markets Equity ETF | 404185 | 70964 | (22875) | 48089 |
| SEI Select International Equity ETF | 820090 | 135588 | (35042) | 100546 |
| SEI Select Small Cap ETF | 401100 | 67664 | (34663) | 33001 |

---

SEI Exchange Traded Funds 49

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

The Funds did not pay any federal or state and local income taxes. Certain Funds paid income taxes in foreign jurisdictions for the year ended March 31, 2026. Cash paid for income taxes, net of refunds received, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | SEI DBi Multi-Strategy <br>Alternative ETF | SEI Enhanced Low Volatility <br>U.S. Large Cap ETF | SEI Enhanced U.S. Large Cap <br> Momentum Factor ETF |
| Income Taxes by Foreign Jurisdiction: |  |  |  |
| Ireland | $– | $– | $5332 |
| Puerto Rico |  |  |  |
| Switzerland |  | 567 |  |
| Other\* | – | – | – |
| Total Income Taxes Paid, Net of Refunds | $– | $567 | $5332 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SEI Enhanced U.S. Large Cap <br>Quality Factor ETF | SEI Enhanced U.S. Large Cap <br>Value Factor ETF | SEI Select Emerging Markets <br>Equity ETF |
| Income Taxes by Foreign Jurisdiction: |  |  |  |
| Brazil | $– | $– | $87423 |
| Hong Kong |  |  | 76467 |
| India |  |  | 196191 |
| Luxembourg |  | 31266 |  |
| Puerto Rico |  | 21134 |  |
| South Africa |  |  | 93273 |
| South Korea |  |  | 245567 |
| Taiwan |  |  | 242534 |
| Other\* | – | – | 216850 |
| Total Income Taxes Paid, Net of Refunds | $– | $52400 | $1158305 |

---

---

| | | |
|:---|:---|:---|
|  | SEI Select International <br>Equity ETF | SEI Select Small Cap ETF |
| Income Taxes by Foreign Jurisdiction: |  |  |
| Canada | $– | $18377 |
| France | 354807 |  |
| Germany | 280014 |  |
| Italy | 184563 |  |
| Japan | 670550 |  |
| Netherlands | 174790 |  |
| Puerto Rico |  | 3660 |
| Spain | 189381 |  |
| Switzerland | 186479 |  |
| Other\* | 646431 | – |
| Total Income Taxes Paid, Net of Refunds | $2687015 | $22037 |

---

\* Represents foreign jurisdictions where taxes paid, net of refunds received, were less than 5% of the total income taxes paid by the Funds.

7. CONCENTRATION/RISKS

In the normal course of business, the Trust enters into contracts that provide general indemnifications by the Trust to the counterparty to the contract. The Trust's maximum exposure under these arrangements is dependent on future claims that may be made against the Trust and, therefore, cannot be estimated; however, management believes that, based on experience, the risk of loss from such claims is considered remote.

To the extent consistent with its Investment Strategy, a Fund may have one of more of the following principal risks:

**Equity Securities Risk** — Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes.

**Quality Securities Risk** — There is no guarantee that the past performance of stocks that SIMC determines are quality will continue. Companies that issue these stocks may experience lower than expected returns or may experience negative growth, as well as increased leverage, resulting in lower than expected or negative returns to Fund shareholders. Many factors can affect a stock's quality and performance, and the impact of these factors on a stock or its price can be difficult to predict.

50 SEI Exchange Traded Funds

**Momentum Securities Risk** — Stocks that previously exhibited high momentum characteristics may not experience positive momentum or may experience more volatility than the market as a whole.

**Value Securities Risk** — Securities issued by companies that may be perceived as undervalued may fail to appreciate for long periods of time and may never realize their full potential value. SIMC may be unsuccessful in identifying undervalued securities. Value securities have generally performed better than non-value securities during periods of economic recovery (although there is no assurance that they will continue to do so). Value securities may go in and out of favor over time.

**Volatility Risk** — Although SIMC seeks to construct a portfolio with lower volatility than the broad U.S. large cap equity market, there is no guarantee that SIMC will be successful. As a result, the Fund may not be any less volatile than the market as a whole, and could be more volatile.

**Quantitative Investing Risk** — Due to the significant role technology plays in quantitative strategies, they carry the risk of unintended or unrecognized issues or flaws in the design, coding, implementation or maintenance of the computer programs or technology used in the development and implementation of the quantitative strategy. Utility interruptions or other key systems outages also can impair the performance of quantitative investment strategies.

**Large-Capitalization Companies Risk** — Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions, may be more mature and may be subject to more limited growth potential compared with smaller capitalization companies.

**Market Risk** — The market value of a security may move up and down, sometimes rapidly and unpredictably. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole. The Funds' market price may deviate from the value of the Funds' underlying portfolio holdings, particularly in times of market stress, with the result that investors may pay significantly more or receive significantly less than the underlying value of the Fund shares bought or sold. This can be reflected as a spread between the bid and ask prices for a Fund quoted during the day or a premium or discount in the closing price from the Funds' NAV.

**Risk of Investing in the U.S.** — Certain changes in the U.S. economy, such as when the U.S. economy weakens or when its financial markets decline, may have an

adverse effect on the securities to which the Funds have exposure.

**Issuer Risk** — The performance of the Funds depends on the performance of individual securities to which the Funds have exposure. Changes in the financial condition or credit rating of an issuer of those securities may cause the value of the Funds to decline.

**Market Trading Risk** — The Funds face numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, periods of high volatility and disruptions in the creation/redemption process. Active trading markets for the Funds' shares may not be developed or maintained by market makers or Authorized Participants (as defined below). Authorized Participants are not obligated to make a market in the Funds' shares or to submit purchase or redemption orders for Creation Units (as defined below). In times of market stress, market makers or Authorized Participants may step away from their respective roles, which could lead to variances between the market price of the Funds' shares and its underlying NAV. Trading in shares on an exchange may be halted in certain circumstances. If a trading halt occurs, a shareholder may temporarily be unable to purchase or sell shares of the Funds. Any of these factors could lead the Funds' shares to trade at a premium or discount to NAV. Thus, you may pay more (or less) than NAV when you buy shares of the Funds in the secondary market, and you may receive less (or more) than NAV when you sell those shares in the secondary market, particularly during times of market stress. SIMC cannot predict whether shares will trade above (premium), below (discount) or at NAV or whether the spread between bid and ask prices will widen. In addition, there can be no assurance that the requirements of the listing exchange necessary to maintain the listing of the Funds will continue to be met.

**Convertible and Preferred Securities Risk** — Convertible and preferred securities have many of the same characteristics as stocks, including many of the same risks. In addition, convertible bonds may be more sensitive to changes in interest rates than stocks. Convertible bonds may also have credit ratings below investment grade, meaning that they carry a higher risk of failure by the issuer to pay principal and/or interest when due.

**Depositary Receipts Risk** — Depositary receipts, such as American Depositary Receipts, are certificates evidencing ownership of shares of a foreign issuer that are issued by depositary banks and generally trade on an established market. Depositary receipts are subject to many of the risks associated with investing directly in foreign securities, including, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory, tax, accounting and audit environment.

SEI Exchange Traded Funds 51

**NOTES TO FINANCIAL STATEMENTS (Continued)**

March 31, 2026

**Warrants and Rights Risk** — Warrants and rights may lack a liquid secondary market for resale. The prices of warrants and rights may fluctuate as a result of speculation or other factors. Warrants and rights can provide a greater potential for profit or loss than an equivalent investment in the underlying security. Prices of warrants and rights do not necessarily move in tandem with the prices of their underlying securities and are highly volatile and speculative investments. If a warrant or right expires without being exercised, the Funds will lose any amount paid for the warrant or right.

**Liquidity Risk** — In stressed market conditions, the market for a Funds' shares may become less liquid in response to deteriorating liquidity in the markets for the Funds' underlying portfolio holdings. This adverse effect on liquidity for the Funds' shares in turn could lead to differences between the market price of the Funds' shares and its underlying NAV and/or widening the spread between bid and ask prices.

**Management Risk** — SIMC may not successfully implement the Funds' investment strategies and, as a result, the Funds may not meet their investment objective and/or underperform other investment vehicles with similar investment objectives and strategies.

**Operational Risk** — The Funds are exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the Funds' service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures.

**Authorized Participant Concentration Risk** — Only broker-dealers (referred to as "Authorized Participants" or "APs") that have executed authorized participation agreements with respect to the Trust may engage in creation or redemption transactions directly with the Funds, and no AP is obligated to engage in creation and/or redemption transactions. To the extent that APs exit the business or are unable to proceed with orders, Fund shares may be more likely to trade at a premium or discount to NAV, have wider spreads between bid and ask prices or face trading halts or delisting.

**Cybersecurity Risk** — Failures or breaches of the electronic systems of the Funds, SIMC, the Fund's distributor, and other service providers, market makers, APs or the issuers of securities in which the Funds invest have the ability to cause disruptions, negatively impact

the Funds' business operations and/or potentially result in financial losses to the Funds and their shareholders.

**Foreign Investment/Emerging Markets Risk** — The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory, tax, accounting and audit environments. These additional risks may be heightened with respect to emerging market countries because political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investments in emerging markets are subject to the added risk that information in emerging market investments may be unreliable or outdated due to differences in regulatory, accounting or auditing and financial record keeping standards, or because less information about emerging market investments is publicly available. In addition, the rights and remedies associated with emerging market investments may be different than investments in developed markets. A lack of reliable information, rights and remedies increase the risks of investing in emerging markets in comparison to more developed markets. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Fund to sell such investments at inopportune times, which could result in losses to the Fund.

**Country Concentration Risk** — The Fund's concentration of its assets in issuers located in a single country or a limited number of countries will increase the impact of, and potential losses associated with, the risks set forth in the Foreign Investment/Emerging Markets Risk.

**Risk of Investing in China** — China is an emerging market, and as a result, investments in securities of companies organized and listed in China may be subject to liquidity constraints and significantly higher volatility, from time to time, than investments in securities of more developed markets. China may be subject to considerable government intervention and varying degrees of economic, political and social instability. Internal social unrest or confrontations with other neighboring countries could have a significant impact on the economy of China. Reduction in spending on Chinese products and services, institution of tariffs or other trade barriers, or a downturn in any of the economies of China's key trading partners may have an adverse impact on the Chinese economy. There also is no guarantee that the Chinese government will not revert from its current open-market economy to an economic policy of central planning. These factors may result in, among other things, a greater risk of stock market, interest rate, and currency fluctuations, as well as inflation. Accounting, auditing and financial reporting standards in China are different from U.S. standards and, therefore, disclosure of certain material information may not be made, may be less available, or may be less reliable. It may also be difficult or impossible for the Fund, U.S. authorities and regulators to obtain or enforce a judgment in a Chinese court. In addition, periodic U.S. Government restrictions on investments in Chinese companies may result in a Fund having to sell such prohibited securities at inopportune times. Such prohibited securities may have less liquidity as a result of such U.S. Government designation and the market price of such prohibited securities may decline, which may cause the Fund to incur losses. The Fund may also be subject to additional risks related to investments in VIEs. Instead of directly owning the equity securities of a Chinese company, a VIE enters into service and other contracts with the Chinese company. Although the VIE has no equity ownership of the Chinese company, the contractual arrangements permit the VIE to consolidate the Chinese company into its financial statements. Intervention by the Chinese government with respect to VIEs could significantly affect the Chinese company's performance and the enforceability of the VIE's contractual arrangements with the Chinese company. The Fund may, directly or indirectly, purchase China A-Shares through Stock Connect or that may be available in the future through additional stock connect programs, a mutual market access program designed to, among other things, enable foreign investment in the People's Republic of China (PRC) via brokers in Hong Kong. There are significant risks inherent in investing in China A-Shares through Stock Connect. The underdeveloped state of PRC's investment and banking systems subjects the settlement, clearing, and registration of China A-Shares transactions to heightened risks. Stock Connect can only operate when both PRC and Hong Kong markets are open for trading and when banking services are available in both markets on the corresponding settlement days. As such, if either or both markets are closed on a U.S. trading day, the Fund may not be able to dispose of its China A-Shares in a timely manner, which could adversely affect the Fund's performance.

52 SEI Exchange Traded Funds

**Small and Medium Capitalization Risk** — The risk that small and medium capitalization companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, small and medium capitalization companies may have limited product lines, markets and financial resources and may depend upon a relatively small management group. Therefore, small capitalization and medium capitalization stocks may be more volatile than those of larger companies. Small capitalization and medium capitalization stocks may be

traded over-the-counter (OTC). OTC stocks may trade less frequently and in smaller volume than exchange listed stocks and may have more price volatility than that of exchange-listed stocks.

**Derivatives Risk** — The Fund's use of futures contracts, forward contracts, options and swaps is subject to market risk, leverage risk, correlation risk and liquidity risk. Market risk is the risk that the market value of an investment may move up and down, sometimes rapidly and unpredictably. Leverage risk and liquidity risk are described below. Many over-the-counter (OTC) derivative instruments will not have liquidity beyond the counterparty to the instrument. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. The Fund's use of forward contracts and swap agreements is also subject to credit risk and valuation risk. Credit risk is described below. Valuation risk is the risk that the derivative may be difficult to value and/or valued incorrectly. Each of these risks could cause the Fund to lose more than the principal amount invested in a derivative instrument. Some derivatives have the potential for unlimited loss, regardless of the size of the Fund's initial investment. The other parties to certain derivative contracts present the same types of credit risk as issuers of fixed income securities. The Fund's use of derivatives may also increase the amount of taxes payable by shareholders. Both U.S. and non-U.S. regulators have adopted and implemented regulations governing derivatives markets, the ultimate impact of which remains unclear.

**Long/Short Risk** — A Fund may seek long exposure to certain financial instruments and short exposure to certain other financial instruments. There is no guarantee that the returns on a Fund's long or short positions will produce positive returns and the Fund could lose money if either or both the Fund's long and short positions produce negative returns.

**Asset Allocation Risk** — A Fund's investments in derivatives may be indirectly subject to asset allocation risk, which is the risk that the allocation of the Fund's assets among various asset classes will cause the Fund to underperform other funds with a similar investment objective and/or underperform the markets in which the Fund invests.

8. REORGANIZATION

Effective as of the close of business on August 22, 2025, the SEI DBi Multi-Strategy Alternative ETF (the "Acquiring Fund") acquired all of the assets and assumed all of the liabilities of the SIMT Liquid Alternative Fund (the "Acquired Fund"), pursuant to a Plan of Reorganization approved by the Board of Trustees. The Board believed the Reorganization was in the best interests of the Acquired Fund shareholders as they would benefit from lower expenses and intraday trading. The Acquiring Fund is the legal surviving entity in the Reorganization, while the Acquired Fund is the accounting survivor or continuing portfolio for purposes of financial and performance history. The Reorganization was accomplished by a tax-free exchange as follows:

SEI Exchange Traded Funds 53

**NOTES TO FINANCIAL STATEMENTS (Concluded)**

March 31, 2026

For every 1 share of the SIMT Liquid Alternative Fund, shareholders received 0.4088 shares of the SEI DBi Multi-Strategy Alternative ETF. Immediately following the Reorganization, SEI DBi Multi-Strategy Alternative ETF held 7,469,631 shares outstanding and net assets of $186,745,983.

Prior to the Reorganization, on August 3, 2025, the Class Y shares of the SIMT Liquid Alternative Fund were converted to Class F shares. Additionally, prior to the Reorganization shareholders received a cash payment for each fractional share they held. The performance and financial history shown of the class is solely that of the Fund's Class F shares.

The investment objectives and accounting policies of both funds are substantially the same. No securities were bought or sold by the Acquiring Fund to realign its portfolio following the reorganization. Refer to the Fund's Statement of Assets and Liabilities for details regarding the cost of the Reorganization.

9. SEGMENT REPORTING

The Funds adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280) – "Improvements to Reportable Segment Disclosures" ("ASU 2023-07"). Adoption of this standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Fund's Chief Financial Officer serves as the CODM. The CODM reviews Fund level financial information, including total returns, expense ratios, changes in net assets, schedules of investments, and other performance and profitability reports, to assess the Fund's operating results. Each Fund is structured as an investment company and represents a single operating segment. Segment assets are reflected on the accompanying Statements of Assets and Liabilities

as "Total Assets" and significant segment expenses are listed on the accompanying Statements of Operations.

10. RECENT ACCOUNTING PRONOUNCEMENT

In this reporting period, the Funds adopted FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. Adoption of the new standard impacted financial statement disclosures only and did not affect any Funds' financial position or the results of its operations.

11. SUBSEQUENT EVENTS

Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosure and/or adjustments were required to the financial statements.

54 SEI Exchange Traded Funds

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Shareholders of the Funds and Board of Trustees

SEI Exchange Traded Funds:

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities for each of the funds listed in the Appendix, each a fund within SEI Exchange Traded Funds (collectively, the Funds), including the schedules of investments, as of March 31, 2026, the related statements of operations for the year or period listed in the Appendix, the statements of changes in net assets for each of the years or periods listed in the Appendix, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods listed in the Appendix. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of March 31, 2026, the results of their operations for the year or period listed in the Appendix, the changes in their net assets for each of the years or periods listed in the Appendix, and the financial highlights for each of the years or periods listed in the Appendix, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due tov error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, transfer agent, and brokers. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more SEI Funds investment companies since 2005.

Philadelphia, Pennsylvania

May 29, 2026

SEI Exchange Traded Funds 55

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (Concluded)**

**Appendix**

**Funds with commencement of operations during the year ended March 31, 2023:**

SEI Enhanced Low Volatility U.S. Large Cap ETF

SEI Enhanced U.S. Large Cap Momentum Factor ETF

SEI Enhanced U.S. Large Cap Quality Factor ETF

SEI Enhanced U.S. Large Cap Value Factor ETF

Statements of operations for the year ended March 31, 2026

Statements of changes in net assets for each of the years in the two-year period ended March 31, 2026 Financial highlights for each of the years in the three-year period ended March 31, 2026 and the period from May 18, 2022 (commencement of operations) through March 31, 2023

**Funds with commencement of operations during the year ended September 30, 2023:**

SEI DBi Multi-Strategy Alternative ETF

Statements of operations for the six-month period ended March 31, 2026 and for the year ended September 30, 2025

Statements of changes in net assets for the six-month period ended March 31, 2026 and for each of the years in the two-year period ended September 30, 2025

Financial highlights for the six-month period ended March 31, 2026, for each of the years in the two-year period ended September 30, 2025 and the period from June 30, 2023 (commencement of operations) through September 30, 2023

**Funds with commencement of operations during the year ended March 31, 2025:**

SEI Select Emerging Markets Equity ETF

SEI Select International Equity ETF

SEI Select Small Cap ETF

Statements of operations for the year ended March 31, 2026

Statements of changes in net assets for the year ended March 31, 2026 and for the period from October 8, 2024 (commencement of operations) through March 31, 2025

Financial highlights for the year ended March 31, 2026 and for the period from October 8, 2024 (commencement of operations) through March 31, 2025

56 SEI Exchange Traded Funds

**NOTICE TO SHAREHOLDERS (Unaudited)**

For shareholders who do not have a March 31, 2026, taxable year end, this notice is for informational purposes only. For shareholders with a March 31, 2026, taxable year end, please consult your tax adviser as to the pertinence of this notice.

For the fiscal year ended March 31, 2026, the Funds are designating long term and qualifying dividend income with regard to distributions paid during the year as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | (A)<br> Return of<br> Capital | (B)<br> Long Term<br> Capital Gains<br> Distributions<br> (Tax Basis) | (C)<br> Ordinary<br> Income<br> Distributions<br> (Tax Basis) | (D)<br> Total<br> Distributions<br> (Tax Basis) | (E)<br> Dividends<br> Qualifying<br> for Corporate<br> Dividends<br> Rec.<br> Deduction<sup>(1)</sup> | (F)<br> Qualifying<br> Dividend<br> Income<br> (15% Tax<br> Rate<br> for QDI)<sup>(2)</sup> | (G)<br> U.S.<br> Government<br> Interest<sup>(3)</sup> | (H)<br> Interest<br> Related<br> Dividends<sup>(4)</sup> | (I)<br> Short-Term<br> Capital<br> Gain<br> Dividends<sup>(5)</sup> | (J)<br> Qualifying<br> Business<br> Income<sup>(6)</sup> | FTC |
| SEI DBi Multi-Strategy Alternative ETF | 0.00% | 29.03% | 70.97% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| SEI Low Volatility U.S. Large Cap ETF | 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SEI Enhanced U.S. Large Cap Momentum Factor ETF | 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SEI Enhanced U.S. Large Quality Factor ETF | 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SEI Enhanced U.S. Large Cap Value Factor ETF | 0.00% | 0.00% | 100.00% | 100.00% | 97.25% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SEI Select Emerging Markets Equity ETF | 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 36.30% | 0.00% | 0.00% | 0.00% | 0.00% | 9.03% |
| SEI Select International Equity ETF | 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 11.19% |
| SEI Select Small Cap ETF | 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) "Dividends
 Received Deduction" represent dividends which qualify for the corporate dividends received deduction.

 Act of 2003. It is the intention of the Fund to designate the max amount permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;(3) "U.S.
 Government Interest" represent the amount of interest that was derived from direct U.S. Government obligations and distributed during
 the fiscal year. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for shareholders
 who are residents of California, Connecticut or New York, the statutory threshold requirements were not satisfied to permit exemption
 of these amounts from state income.

&nbsp;&nbsp;&nbsp;&nbsp;(4) The
 percentage in this column represents the amount of "Interest Related Dividend" is reflected as a percentage of ordinary income
 distribution. Interest related dividends is exempted from U.S. withholding tax when paid to foreign investors.

&nbsp;&nbsp;&nbsp;&nbsp;(5) The
 percentage of this column represents the amount of "Short Term Capital Gain Dividend" is reflected as a percentage of short
 term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

&nbsp;&nbsp;&nbsp;&nbsp;(6) The
 percentage of this column represents the amount of ordinary dividend income that qualifies for 20% Business Income Deduction.

Items (A), (B), (C) and (D) are based on the percentage of each fund's total distribution.

Items (E), (F) and (J) are based on the percentage of "Ordinary Income Distributions."

Item (G) is based on the percentage of gross income of each Fund.

Item (H) is based on the percentage of net investment income distributions.

Item (I) is based on the percentage of short-term capital gains distributions.

Please consult your tax adviser for proper treatment of this information. This notification should be kept with your permanent tax records.

SEI Exchange Traded Funds 57

**OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (Unuadited)**

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Item 10 The remuneration paid by the company during the period covered by the report to the Trustees on the company's Board of Trustees is disclosed within the Statement of Operations of the financial statements (Item 7).

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

SEI Exchange Traded Funds (the "Trust") and SEI Investments Management Corporation ("SIMC") have entered into an investment advisory agreement (the "Advisory Agreement"), pursuant to which SIMC provides investment advisory services to the series of the Trust (the "Funds"). Pursuant to separate sub-advisory agreements with SIMC (the "Sub-Advisory Agreements" and, together with the Advisory Agreement, the "Investment Advisory Agreements"), and under the supervision of SIMC and the Trust's Board of Trustees (each member, a "Trustee" and, collectively, the "Trustees" or the "Board"), the sub-advisers (each, a "Sub-Adviser" and collectively, the "Sub-Advisers") provide security selection and certain other advisory services with respect to all or a discrete portion of the assets of the Funds. The Sub-Advisers are also responsible for managing their employees who provide services to the Funds. The Sub-Advisers are selected based primarily upon the research and recommendations of SIMC, which evaluates quantitatively and qualitatively the Sub-Advisers' skills and investment results in managing assets for specific asset classes, investment styles and strategies.

The Investment Company Act of 1940, as amended (the "1940 Act"), requires that the initial approval of a Fund's Investment Advisory Agreements be specifically approved by the vote of a majority of the outstanding shareholders of the Funds and the vote of a majority of the Trustees who are not parties to the Investment Advisory Agreements or "interested persons" of any party (the "Independent Trustees") cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the 1940 Act requires that the continuation or renewal of any Investment Advisory Agreement be approved at least annually (after an initial period of up to two years), which also requires the vote of a majority of the Board, including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required, pursuant to an exemptive order that has been granted to the Trust by the Securities and Exchange Commission. In connection with their consideration of such initial approvals and renewals, the Funds' Trustees must request and evaluate, and SIMC and the Sub-Advisers are required to furnish, such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreements. In addition, the Securities and Exchange Commission takes the position that, as part of their fiduciary duties with respect to a mutual fund's fees, mutual fund boards are required to evaluate the material factors applicable to a decision to approve or renew an Investment Advisory Agreement.

Consistent with these responsibilities, the Board calls and holds meetings each year to consider whether to approve new and/or renew existing Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to proposed new and existing Funds of the Trust. In preparation for these meetings, the Board requests and reviews a wide variety of materials provided by SIMC and the Sub-Advisers, including information about SIMC's and the Sub-Advisers' affiliates, personnel and operations and the services provided pursuant to the Investment Advisory Agreements. The Board also receives data from third parties. This information is provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. The Trustees also receive a memorandum from counsel regarding the responsibilities of Trustees in connection with their consideration of whether to approve or renew the Trust's Investment Advisory Agreements. Finally, the Independent Trustees receive advice from independent counsel to the Independent Trustees, meet in executive sessions outside the presence of Fund management and participate in question and answer sessions with representatives of SIMC and the Sub-Advisers.

At the April 1-3, 2025 meeting of the Board, the Trustees, including a majority of the Independent Trustees, approved an amended fee schedule to the Advisory Agreement and a new Sub-Advisory Agreement for a new series of the Trust, the SEI DBi Multi-Strategy Alternative Fund. At the December 8-10, 2025 meeting of the Board, the Trustees, including a majority of the Independent Trustees, approved a brief extension of the Advisory Agreement to accommodate a revised Spring meeting schedule. Typically, the Trustees renew the Advisory Agreement at the first quarterly in-person meeting of the calendar year in March. Agreements regularly renewed at the March meeting expire on April 1 of the following year. Because the first quarterly in-person meeting of the Board in calendar year 2026 was held on March 31-April 2, 2026, the Advisory Agreement would have expired prior to the meeting, without the extension. Accordingly, the Board voted in-person at the December 8-10, 2025 meeting to extend the Advisory Agreement until the March 31-April 2, 2026 meeting. In evaluating whether to approve the extension of the Advisory Agreement, the Board considered the information made available to it throughout the course of the year by representatives of the SEI investment and compliance teams. At the March 31-April 2, 2026 meeting, the Board evaluated the Advisory Agreement in accordance with the renewal process that it typically applies during the annual contract renewal each Spring. Although outside the scope of the period covered by this report, the Board's renewal of the Advisory Agreement at the March 31-April 2, 2026 meeting of the Board is discussed herein, consistent with prior shareholder reports of the Funds. The Board's approval was based on its consideration and evaluation of the factors described above, as discussed at the meeting and at prior meetings, such as the December 8-10, 2025 meeting. At the March 31-April 2, 2026 meeting of the Board, the Trustees, including a majority of the Independent Trustees, also approved an amended fee schedule to the Advisory Agreement and a new Sub-Advisory Agreement for two new series of the Trust, the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF. Also, each Sub-Advisory Agreement was renewed at meetings of the Board held during the course of the Trust's fiscal year on April 1-3, 2025, June 23-25, 2025, September 15-17, 2025 and December 8-10, 2025. In each case, the Board's renewal, or initial approval, was based on its consideration and evaluation of the factors described above, as discussed at the meetings and at prior meetings, as applicable.

58 SEI Exchange Traded Funds

Specifically, during the course of the Trust's fiscal year, the Board requested and received written materials from SIMC and the Sub-Advisers regarding: (i) the quality of SIMC's and the Sub-Advisers' investment management and other services; (ii) SIMC's and the Sub-Advisers' investment management personnel; (iii) SIMC's and the Sub-Advisers' operations and financial condition; (iv) SIMC's and the Sub-Advisers' brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the advisory fees that SIMC charges or proposes to charge the Funds and the level of the sub-advisory fees that SIMC pays or proposes to pay the Sub-Advisers compared with fees each charge to comparable accounts; (vi) the advisory fees charged or proposed to be charged by SIMC and the Funds' overall or estimated fees and operating expenses compared with peer groups of mutual funds prepared by Broadridge, an independent provider of investment company data that was engaged to prepare an assessment of the Funds in connection with the renewal or approval of the Investment Advisory Agreements (the "Broadridge Report"); (vii) the level or estimated level of SIMC's and the Sub-Advisers' profitability from their Fund-related operations; (viii) SIMC's and the Sub-Advisers' compliance program, including a description of material compliance matters and material compliance violations; (ix) SIMC's potential economies of scale; (x) SIMC's and the Sub-Advisers' policies on and compliance procedures for personal securities transactions; (xi) SIMC's and the Sub-Advisers' expertise and resources in domestic and/or international financial markets; and (xii) the Funds' (with the exception of the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF) performance over various periods of time compared with peer groups of mutual funds prepared by Broadridge and the Funds' benchmark indexes. The following discusses some, but not all, of the factors that were considered by the Board in connection with its assessment of the Investment Advisory Agreements.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided or proposed to be provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated or proposed to be dedicated to the Funds. In this regard, the Trustees evaluated, among other things, SIMC's and each Sub-Adviser's personnel, experience, track record and compliance program. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by or proposed to be provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated or proposed to be dedicated to the Funds were sufficient to support the initial approval or renewal of the Investment Advisory Agreements.

**Performance.** In determining whether to renew SIMC's Advisory Agreement, the Trustees considered the Funds' (with the exception of the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF) performance relative to their peer groups and appropriate indexes/benchmarks. The Trustees reviewed performance information for each Fund, noting that they receive performance reports that permit them to monitor each Fund's performance at board meetings throughout the year. As part of this review, the Trustees considered the composition of each peer group and selection criteria. In assessing Fund performance, the Trustees considered the Broadridge Report. The Broadridge Report included metrics on risk analysis, volatility versus total return (only with respect to the Enhanced ETFs), net total return and performance consistency for the Funds and a universe of comparable funds. Based on the materials considered and discussed at the meetings, the Trustees found Fund performance satisfactory, or, where performance was materially below the benchmark and/or peer group, the Trustees were satisfied with the reasons provided to explain such performance. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support the renewal and approval of SIMC's Advisory Agreement, and the information provided for the Sub-Advisers was sufficient to support the approval of each Sub-Advisory Agreement.

SEI Exchange Traded Funds 59

**OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (Unuadited) (Concluded)**

With respect to the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF, because they were new and had not commenced operations, there was no investment performance record to evaluate when approving the Advisory Agreement and Sub-Advisory Agreements, though the Board noted that the High Yield Bond & Alternative Credit ETF was a shell ETF for purposes of reorganizing the SEI Institutional Managed Trust High Yield Bond Fund into an ETF. The High Yield Bond Fund and High Yield Bond & Alternative Credit ETF have the same adviser and sub-advisers.

**Fees.** With respect to the Funds' expenses or estimated expenses under the Investment Advisory Agreement, the Trustees considered the rate of compensation called for by the Investment Advisory Agreements, noting that SIMC, in addition to providing advisory services to the Funds, pays all of the operating expenses of the Funds, except the management fees, interest expenses, dividend and other expenses on securities sold short, taxes, expenses incurred with respect to the acquisition and disposition of portfolio securities and the execution of portfolio transactions (including brokerage commissions), acquired fund fees and expenses, distribution fees or expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act (if any), fees and expenses of the Board, litigation expenses and any extraordinary expenses. Based on discussion at the meeting, the Trustees determined that the fees and expenses were below the average for the respective comparison peer group. With respect to the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF, the Trustees also considered a Broadridge Report, which included various metrics related to the estimated fund expenses, including, but not limited to the proposed contractual management fee as compared to a universe of comparable funds. When considering fees estimated to be paid to Sub-Advisers, as applicable, the Board took into account the fact that the Sub-Advisers would be compensated by SIMC and not by the Funds directly, and that such compensation with respect to any unaffiliated Sub-Adviser would reflect an arms-length negotiation between the Sub-Adviser and SIMC. Following evaluation, the Board concluded that, within the context of its full deliberations, the expenses or estimated expenses of the Funds are reasonable and supported the approval or renewal of the Investment Advisory Agreements.

**Profitability.** With regard to profitability, the Trustees considered the compensation flowing or estimated to flow to SIMC and its affiliates, directly or indirectly. The Trustees considered whether the levels or estimated levels of compensation and profitability were reasonable. As with the fee levels, when considering the profitability of the Sub-Advisers, the Board took into account the fact that compensation with respect to any unaffiliated Sub-Adviser would reflect an arms-length negotiation between the Sub-Adviser and SIMC. In connection with the approval of each Sub-Advisory Agreement, the Board also took into consideration the impact that the fees proposed to be paid to the Sub-Adviser would have on SIMC's advisory fee margin and profitability. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the profitability or estimated profitability of SIMC is reasonable and supported the approval or renewal of the Investment Advisory Agreements.

**Economies of Scale.** With respect to the Advisory Agreement, the Trustees considered whether any economies of scale were being realized (or in the case of the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF, could be realized) by SIMC and its affiliates and, if so, whether the benefits of such economies of scale were passed along (or in the case of the SEI Ang Research Enhanced U.S. Large Cap ETF and High Yield Bond & Alternative Credit ETF, could be passed along) to the Funds' shareholders through a graduated investment advisory fee schedule or other means. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board determined that the fees were reasonable in light of the information that was provided by SIMC with respect to economies of scale.

60 SEI Exchange Traded Funds

Based on the Trustees' deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees' counsel, unanimously approved the approval or renewal, as applicable, of the Investment Advisory Agreements and concluded that the compensation under the Investment Advisory Agreements is fair and reasonable in light of such services and expenses and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment. In the course of its deliberations, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

SEI Exchange Traded Funds 61

**SEI Exchange Traded Funds / Annual Financials and Other Information / March 31, 2026**

**Trustees**

Robert A. Nesher, *Chairman*

Dennis J. McGonigle

Nina Lesavoy

James M. Williams

Susan C. Cote

James B. Taylor

Christine Reynolds

Thomas Melendez

Eli Powell Niepoky

Kimberly Walker

**Officers**

Robert A. Nesher

*President and Chief Executive Officer*

Glenn R. Kurdziel

*Controller and Chief Financial Officer*

Stephen Panner

*Chief Compliance Officer*

Timothy D. Barto

*Vice President, Secretary*

David F. McCann

*Vice President, Assistant Secretary*

Katherine Mason

*Vice President, Assistant Secretary*

Stephen G. MacRae

*Vice President*

Marci Morgan

*Anti-Money Laundering Compliance Officer*

*Privacy Officer*

**Investment Adviser**

SEI Investments Management Corporation

**Administrator**

SEI Investments Global Funds Services

**Distributor**

SEI Investments Distribution Co.

**Legal Counsel**

Morgan, Lewis & Bockius LLP

**Independent Registered Public Accounting Firm**

KPMG LLP

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Trust and must be preceded or accompanied by a current prospectus. Shares of the Funds are not deposits or obligations of, or guaranteed or endorsed by, any bank. The shares are not federally insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other government agency. Investment in the shares involves risk, including the possible loss of principal.

**For more information call**

**1 800 DIAL SEI**

**(1 800 342 5734)**

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| | |
|:---|:---|
| ![](fp0099233_03.jpg) | 1 Freedom Valley Drive <br> P.O. Box 1100<br> Oaks, Pennsylvania 19456<br>|

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SEI-ETF (3/26)

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Included under Item 7.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Included under Item 7.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees (the "Board"). The Registrant has a standing Governance Committee (the "Committee") currently consisting of the Independent Trustees. The Committee is responsible for evaluating and recommending nominees for election to the Board. Pursuant to the Committee's Charter, adopted on June 18, 2004, as amended, the Committee will review all shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Registrant's office.

**Item 16. Controls and Procedures.**

(a) The Registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "1940 Act")) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18. Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Item 19. Exhibits.**

[(a)(1) Code of Ethics attached hereto.](fp0099233-1_ex99code.htm)

(a)(2) Not applicable.

[(a)(3) A separate certification for the principal executive officer and the principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, are filed herewith.](fp0099233-1_ex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Officer certifications as required by Rule 30a-2(b) under the Investment Company Act of 1940, as amended also accompany this filing as exhibits.](fp0099233-1_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | SEI Exchange Traded Funds |
| By | /s/ Robert A. Nesher |
|  | Robert A. Nesher |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

Date: June 5, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By | /s/ Robert A. Nesher |
|  | Robert A. Nesher |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

Date: June 5, 2026

---

| | |
|:---|:---|
| By | /s/ Glenn Kurdziel |
|  | Glenn Kurdziel |
|  | Controller and Chief Financial Officer |
|  | (Principal Financial Officer) |

---

Date: June 5, 2026

## Ex-99.Code

**SEI TAX EXEMPT TRUST**

**SEI DAILY INCOME TRUST**

**SEI INSTITUTIONAL MANAGED TRUST**

**SEI INSTITUTIONAL INTERNATIONAL TRUST**

**SEI ASSET ALLOCATION TRUST**

**SEI INSTITUTIONAL INVESTMENTS TRUST**

**ADVISER MANAGED TRUST**

**NEW COVENANT FUNDS**

**SEI CATHOLIC VALUES TRUST**

**SEI EXCHANGE TRADED FUNDS**

**SEI CAYMAN FOREIGN CORPORATIONS**

***Financial Officer Code of Ethics***

1. <u>Introduction</u> 

The reputation and integrity of SEI Tax Exempt Trust, SEI Daily Income Trust, SEI Institutional Managed Trust, SEI Institutional International Trust, SEI Asset Allocation Trust, SEI Institutional Investments Trust, Adviser Managed Trust, New Covenant Funds, SEI Catholic Values Trust, SEI Exchange Traded Funds and SEI Cayman Foreign Corporations (each a "Trust" and, collectively, the "Trusts") are valuable assets that are vital to the each Trust's success. The Trusts' senior financial officers ("SFOs") are responsible for conducting the Trusts' business in a manner that demonstrates a commitment to the highest standards of integrity. The Trusts' SFOs include the principal executive officer, the principal financial officer, comptroller or principal accounting officer, and any person who performs a similar function.

The Sarbanes-Oxley Act of 2002 (the "Act") effected sweeping corporate disclosure and financial reporting reform on public companies, including mutual funds, to address corporate malfeasance and assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under the Act, all public companies (including the Trusts) must either have a code of ethics for their SFOs, or disclose why they do not. The Act was intended to foster corporate environments which encourage employees to question and report unethical and potentially illegal business practices. Each Trust has chosen to adopt this Financial Officer Code of Ethics (the "Code") to encourage its SFOs to act in a manner consistent with the highest principles of ethical conduct.

2. <u>Purposes of the Code</u> 

The purposes of this Code are:

To promote honest and ethical conduct by each Trust's SFOs, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

To assist each Trust's SFOs in recognizing and avoiding conflicts of interest, including disclosing to an appropriate person any material transaction or relationship that reasonably could be expected to give rise to such a conflict;

To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trusts file with, or submit to, the SEC and in other public communications made by the Trusts;

To promote compliance with applicable laws, rules and regulations;

To encourage the prompt internal reporting to an appropriate person of violations of this Code; and

To establish accountability for adherence to this Code.

3. <u>Questions about this Code</u> 

Each Trust's compliance officer designated to oversee compliance with the Trust's Code of Ethics adopted pursuant to Rule 17j-1 shall serve as Compliance Officer for the implementation and administration of this Code. You should direct your questions about this Code to the Compliance Officer.

4. <u>Conduct Guidelines</u> 

Each Trust has adopted the following guidelines under which the Trust's SFOs must perform their official duties and conduct the business affairs of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) **Ethical and honest conduct is of paramount importance.** Each Trust's SFOs must act with
 honesty and integrity and avoid violations of this Code, including the avoidance of actual
 or apparent conflicts of interest with the Trust in personal and professional relationships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) **SFOs must disclose material transactions or relationships.** Each Trust's SFOs must
 disclose to the Compliance Officer any actual or apparent conflicts of interest the SFO
 may have with the Trust that reasonably could be expected to give rise to any violations
 of this Code. Such conflicts of interest may arise as a result of material transactions
 or business or personal relationships to which the SFO may be a party. If it is not possible
 to disclose the matter to the Compliance Officer, it should be disclosed to the Trust's
 Chief Financial Officer, Chief Executive Officer or another appropriate person. In addition
 to disclosing any actual or apparent conflicts of interest in which an SFO is personally
 involved, the Trusts' SFOs have an obligation to report any other actual or apparent
 conflicts which they discover or of which they otherwise become aware. If you are unsure
 whether a particular fact pattern gives rise to a conflict of interest, or whether a
 particular transaction or relationship is "material," you should bring the
 matter to the attention of the Compliance Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) **Standards for quality of information shared with service providers of the Trusts.** Each Trust's
 SFOs must at all times seek to provide information to the Trust's service providers
 (adviser, administrator, outside auditor, outside counsel, custodian, *etc.*) that
 is accurate, complete, objective, relevant, timely, and understandable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) **Standards for quality of information included in periodic reports.** Each Trust's SFOs
 must at all times endeavor to ensure full, fair, timely, accurate, and understandable
 disclosure in the Trust's periodic reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) **Compliance with laws.** Each Trust's SFOs must comply with the federal securities laws and
 other laws and rules applicable to the Trusts, such as the Internal Revenue Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) **Standard of care.** Each Trust's SFOs must at all times act in good faith and with due
 care, competence and diligence, without misrepresenting material facts or allowing your
 independent judgment to be subordinated. Each Trust's SFOs must conduct the affairs
 of the Trust in a responsible manner, consistent with this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) **Confidentiality of information.** Each Trust's SFOs must respect and protect the confidentiality
 of information acquired in the course of their professional duties, except when authorized
 by the Trust to disclose it or where disclosure is otherwise legally mandated. You may
 not use confidential information acquired in the course of your work for personal advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) **Sharing of information and educational standards.** Each Trust's SFOs should share information
 with relevant parties to keep them informed of the business affairs of the Trust, as
 appropriate, and maintain skills important and relevant to the Trust's needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) **Promote ethical conduct.** Each Trust's SFOs should at all times proactively promote
 ethical behavior among peers in your work environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) **Standards for recordkeeping.** Each Trust's SFOs must at all times endeavor to ensure that
 the Trust's financial books and records are thoroughly and accurately maintained
 to the best of their knowledge in a manner consistent with applicable laws and this Code.

5. <u>Waivers of this Code</u> 

You may request a waiver of a provision of this Code by submitting your request in writing to the Compliance Officer for appropriate review. For example, if a family member works for a service provider that prepares a Trust's financial statements, you may have a potential conflict of interest in reviewing those statements and should seek a waiver of this Code to review the work. An executive officer of each Trust, or another appropriate person (such as a designated Board or Audit Committee member), will decide whether to grant a waiver. All waivers of this code must be disclosed to the applicable Trust's shareholders to the extent required by SEC rules.

6. <u>Affirmation of the Code</u> 

Upon adoption of the Code, each Trust's SFOs must affirm in writing that they have received, read and understand the Code, and annually thereafter must affirm that they have complied with the requirements of the Code. To the extent necessary, each Trust's Compliance Officer will provide guidance on the conduct required by this Code and the manner in which violations or suspected violations must be reported and waivers must be requested.

7. <u>Reporting Violations</u> 

In the event that an SFO discovers or, in good faith, suspects a violation of this Code, the SFO must immediately report the violation or suspected violation to the Compliance Officer. The Compliance Officer may, in his discretion, consult with another member of the Trust's senior management or the Board in determining how to address the suspected violation. For example, a Code violation may occur when a periodic report or financial statement of a Trust omits a material fact, or is technically accurate but, in the view of the SFO, is written in a way that obscures its meaning.

SFOs who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated as confidential to the extent possible.

8. <u>Violations of the Code</u> 

Dishonest or unethical conduct or conduct that is illegal will constitute a violation of this Code, regardless of whether this Code specifically refers to such particular conduct. A violation of this Code may result in disciplinary action, up to and including removal as an SFO of the Trust. A variety of laws apply to the Trusts and their operations, including the Securities Act of 1933, the Investment Company Act of 1940, state laws relating to duties owed by Trust officers, and criminal laws. The Trusts will report any suspected criminal violations to the appropriate authorities, and will investigate, address and report, as appropriate, non-criminal violations.

Dated: October 2022

## Ex-99.Cert

CERTIFICATION

Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002

I, Robert A. Nesher, certify that:

1. I have reviewed this report on Form N-CSR of SEI Exchange Traded Funds (Registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: June 5, 2026 |
| /s/ Robert A. Nesher |
| Robert A. Nesher |
| President and Chief Executive Officer |
| (Principal Executive Officer) |

---

CERTIFICATION

Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002

I, Glenn Kurdziel, certify that:

1. I have reviewed this report on Form N-CSR of SEI Exchange Traded Funds (Registrant);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: June 5, 2026 |
| /s/ Glenn Kurdziel |
| Glenn Kurdziel |
| Controller and Chief Financial Officer |
| (Principal Financial Officer) |

---

## Exhibit 99.906

CERTIFICATION

Pursuant to 18 U.S.C. Section 1350,

As Adopted Pursuant to Section 906

of the Sarbanes-Oxley Act of 2002

The undersigned, the President and Chief Executive Officer of the SEI Exchange Traded Funds (the "Trust"), with respect to the Trust's Report on Form N-CSR for the period ended March 31, 2026 as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.

---

| | |
|:---|:---|
| Dated: June 5, 2026 |  |
|  | /s/ Robert A. Nesher |
|  | Robert A. Nesher |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

CERTIFICATION

Pursuant to 18 U.S.C. Section 1350,

As Adopted Pursuant to Section 906

of the Sarbanes-Oxley Act of 2002

The undersigned, the Controller and Chief Financial Officer of the SEI Exchange Traded Funds (the "Trust"), with respect to the Trust's Report on Form N-CSR for the period ended March 31, 2026 as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.

---

| | |
|:---|:---|
| Dated: June 5, 2026 |  |
|  | /s/ Glenn Kurdziel |
|  | Glenn Kurdziel |
|  | Controller and Chief Financial Officer |
|  | (Principal Financial Officer) |

---